Category: Business

  • MIL-OSI: Monolithic Power Systems Earnings Commentary for the Quarter Ended March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    KIRKLAND, Wash., May 01, 2025 (GLOBE NEWSWIRE) — MPS will report its results after the market closes on May 1, 2025 and host a question-and-answer webinar at 2:00 p.m. PT / 5:00 p.m. ET. The live event will be held via a Zoom webcast, which can be accessed at https://mpsic.zoom.us/j/92570889542.

    Q1 2025 Financial Summary  (Unaudited)
      GAAP
      Q1’25
      Q4’24
      Q1’24
        QoQ Change YoY Change
    Revenue ($k) $ 637,554   $ 621,665   457,885     Up 2.6% Up 39.2%
    Gross Margin 55.4%   55.4%   55.1%     Flat Up 0.3 pts
    Opex ($k) $ 184,471   $ 181,101   156,954     Up 1.9% Up 17.5%
    Operating Margin 26.5%   26.3%   20.9%     Up 0.2 pts Up 5.6 pts
    Net income ($k) $ 133,791   $ 1,449,363   92,541     Down 90.8% Up 44.6%
    Diluted EPS $ 2.79   $ 29.88   1.89     Down 90.7% Up 47.6%
      Non-GAAP
      Q1’25
      Q4’24
      Q1’24
        QoQ Change YoY Change
    Revenue ($k) $ 637,554   $ 621,665   $ 457,885     Up 2.6% Up 39.2%
    Gross Margin 55.7%   55.8%   55.7%     Down 0.1 pts Flat
    Opex ($k) $ 133,526   $ 126,117   $ 103,426     Up 5.9% Up 29.1%
    Operating Margin 34.7%   35.5%   33.1%     Down 0.8 pts Up 1.6 pts
    Net income ($k) $ 193,813   $ 198,401   $ 137,492     Down 2.3% Up 41.0%
    Diluted EPS $ 4.04   $ 4.09   $ 2.81     Down 1.2% Up 43.8%
    Tax Rate 15.0%   12.5%   12.5%     Up 2.5 pts Up 2.5 pts
    Revenue by End Market
     
        Revenue   YoY Change   % of Revenue
    End Market ($M)   Q1’25
    Q1’24   $   %     Q1’25   Q1’24  
    Storage & Computing   $ 188.5 $ 106.1   $ 82.4   77.7%     29.6 23.2
    Automotive   144.9 87.1   57.8   66.4%     22.7   19.0  
    Enterprise Data   132.9 149.7   (16.8 (11.2%   20.8   32.7  
    Communications   71.8 46.7   25.1   53.7%     11.3   10.2  
    Consumer   56.9 38.1   18.8   49.3%     8.9   8.3  
    Industrial   42.6 30.2   12.4   41.1%     6.7   6.6  
    Total   $ 637.6 $ 457.9   $ 179.7   39.2%     100 100
                               

    Ongoing Business Conditions

    In Q1 2025, MPS achieved record quarterly revenue of $637.6 million, slightly higher than revenue in the fourth quarter of 2024 and 39.2% higher than revenue in the first quarter of 2024.

    Our performance during the quarter reflected the continued strength of our diversified market strategy and a continued trend of the ordering patterns we saw at the end of 2024.

    Q1 2025 highlights include:

    • At our March 20th investor day, we showcased MPS innovation across a range of areas including new opportunities in Robotics, Automotive, Data Center, Building Automation, Medical, and Audio.
    • In Q1, Storage and Computing segment revenue increased 38% quarter-over-quarter on strong demand for both memory and notebook solutions.
    • We continue to win designs across all major Enterprise Data customers with revenue ramps expected in the second half of this year.
    • Finally, Q1 ’25 Automotive revenue increased 13% from Q4’24, the third consecutive quarter of sequential double-digit growth.

    MPS continues to focus on innovation, solving our customers’ most challenging problems, and maintaining the highest level of quality. We continue to invest in new technology, expand into new markets, and to diversify our end-market applications and global supply chain. This will allow us to capture future growth opportunities, maintain supply stability, and swiftly adapt to market changes as they occur.

    “Our proven, long-term growth strategy remains intact as we continue our transformation from being a chip-only, semiconductor supplier to a full service, silicon-based solutions provider,” said Michael Hsing, CEO and founder of MPS.

    Q1’25 Revenue Results

    MPS reported first quarter revenue of $637.6 million, slightly higher than the fourth quarter of 2024 and 39.2% higher than the first quarter of 2024. Compared with the fourth quarter of 2024, sales in Storage & Computing, Automotive, Communication and Industrial improved sequentially.

    First quarter 2025 Storage and Computing revenue of $188.5 million increased 38.1% from the fourth quarter of 2024. The sequential increase was primarily driven by higher sales of power solutions for storage and notebooks. First quarter 2025 Storage and Computing revenue was up 77.7% year over year. Storage and Computing revenue represented 29.6% of MPS’s first quarter 2025 revenue compared with 22.0% in the fourth quarter of 2024.

    First quarter Automotive revenue of $144.9 million increased 12.9% from the fourth quarter of 2024 primarily from higher sales in ADAS, body electronics, and infotainment power solutions. First quarter 2025 Automotive revenue was up 66.4% year over year. Automotive revenue represented 22.7% of MPS’s first quarter 2025 revenue compared with 20.6% in the fourth quarter of 2024.

    First quarter 2025 Communications revenue of $71.8 million was up 12.3% from the fourth quarter of 2025 primarily on higher sales into networking and optical solutions. First quarter 2025 Communications revenue was up 53.7% year over year. Communications sales represented 11.3% of our total first quarter 2025 revenue compared with 10.3% in the fourth quarter of 2024.

    First quarter 2025 Industrial revenue of $42.6 million increased 4.3% from the fourth quarter of 2024 primarily due to higher sales for industrial meters. First quarter 2025 Industrial revenue was up 41.1% year over year. Industrial revenue represented 6.7% of our total first quarter 2025 revenue compared with 6.6% in the fourth quarter of 2024.

    First quarter Consumer revenue of $56.9 million decreased 0.6% from the fourth quarter of 2024 primarily from lower sales in gaming partially offset by higher sales for TV solutions. First quarter 2025 Consumer revenue was up 49.3% year over year. Consumer revenue represented 8.9% of MPS’s first quarter 2025 revenue compared with 9.2% in the fourth quarter of 2024.

    In our Enterprise Data market, first quarter 2025 revenue of $132.9 million decreased 31.8% from the fourth quarter of 2024. First quarter 2025 Enterprise Data revenue was down 11.2% year over year. Enterprise Data revenue represented 20.8% of MPS’s first quarter 2025 revenue compared with 31.3% in the fourth quarter of 2024.

    Q1’25 Gross Margin & Operating Income

    GAAP gross margin was 55.4%, flat to the fourth quarter of 2024. Our GAAP operating income was $168.8 million compared to $163.3 million reported in the fourth quarter of 2024.

    Non-GAAP gross margin for the first quarter of 2025 was 55.7%, down 0.1 percentage points compared to the fourth quarter of 2024. Our non-GAAP operating income was $221.5 million compared to $220.7 million reported in the fourth quarter of 2024.

    Q1’25 Operating Expenses

    Our GAAP operating expenses were $184.5 million in the first quarter of 2025 compared with $181.1 million in the fourth quarter of 2024.

    Our Non-GAAP operating expenses were $133.5 million, up from $126.1 million in the fourth quarter of 2024.

    The differences between non-GAAP operating expenses and GAAP operating expenses for the quarters discussed here are primarily stock-based compensation and related expenses and deferred compensation plan income.

    Total stock-based compensation and related expenses, including approximately $1.7 million charged to cost of goods sold, was $53.8 million compared with $56.3 million recorded in the fourth quarter of 2024.

    The Bottom Line

    First quarter 2025 GAAP net income was $133.8 million or $2.79 per fully diluted share, compared with $1.4 billion or $29.88 per share in the fourth quarter of 2024. Fourth quarter 2024 GAAP net income and EPS included the recognition of a tax benefit granted to a foreign subsidiary.

    First quarter 2025 non-GAAP net income was $193.8 million or $4.04 per fully diluted share, compared with $198.4 million or $4.09 per fully diluted share in the fourth quarter of 2024.

    The first quarter 2025 non-GAAP tax rate increased to 15% from 12.5% in the fourth quarter of 2024.

    There were 48.0 million fully diluted shares outstanding at the end of the first quarter of 2025.

    Balance Sheet and Cash Flow

    Cash, cash equivalents and short-term investments were $1,026.7 million at the end of the first quarter of 2025 compared to $862.9 million at the end of the fourth quarter of 2024. For the first quarter of 2025, MPS generated operating cash flow of $256.4 million compared with the fourth quarter of 2024 operating cash flow of $167.7 million.

    Accounts receivable at the end of the first quarter of 2025 were $214.9 million, representing 31 days of sales outstanding, which was 6 days higher than the 25 days reported at the end of the fourth quarter of 2024.

    Our internal inventories at the end of the first quarter of 2025 were $454.8 million, up from $419.6 million at the end of the fourth quarter of 2024. Days of inventory of 146 days at the end of the first quarter of 2025 was 8 days higher than at the end of the fourth quarter of 2024.

    We have carefully managed our internal inventories throughout the year, balancing the uncertainty in the market with being prepared to capture market upturns when they occur. Comparing current inventory levels using next quarter’s projected revenue, days of inventory at the end of the first quarter of 143 days was 9 days higher than at the end of the fourth quarter of 2024.

    Selected Balance Sheet and Inventory Data (Unaudited)
           
      Q1’25 Q4’24 Q1’24
    Cash, Cash Equivalents, and Short-Term Investments $ 1,026.7 M $ 862.9 M $ 1,286.4 M
    Operating Cash Flow $ 256.4 M $ 167.7 M $ 248.0 M
    Accounts Receivable $ 214.9 M $ 172.5 M $ 194.4 M
    Days of Sales Outstanding 31 Days 25 Days 39 Days
    Internal Inventories $ 454.8 M $ 419.6 M $ 396.0 M
    Days of Inventory (current quarter revenue) 146 Days 138 Days 175 Days
    Days of Inventory (next quarter revenue) 143 Days 134 Days 159 Days
           

    Q2’25 Business Outlook

    For the second quarter of 2025 ending June 30, we are forecasting:

    • Revenue in the range of $640 million to $660 million.
    • GAAP gross margin in the range of 54.9% to 55.5%.
    • Non-GAAP gross margin in the range of 55.2% to 55.8%, which excludes the impact from stock-based compensation and related expenses as well as the impact from amortization of acquisition-related intangible assets.
    • Total stock-based compensation and related expenses in the range of $58.3 million to $60.3 million including approximately $1.9 million that would be charged to cost of goods sold.
    • GAAP operating expenses between $189 million and $195 million.
    • Non-GAAP operating expenses in the range of $132.6 million to $136.6 million. This estimate excludes stock-based compensation and related expenses in the range of $56.4 million to $58.4 million.
    • Interest and other income in the range from $6.2 million to $6.6 million before foreign exchange gains or losses.
    • Non-GAAP tax rate of 15% for 2025.
    • Fully diluted shares outstanding in the range of 47.9 to 48.3 million shares.

    For further information, contact:

    Bernie Blegen
    Executive Vice President and Chief Financial Officer
    Monolithic Power Systems, Inc.
    408-826-0777
    MPSInvestor.Relations@monolithicpower.com 

    Safe Harbor Statement

    This earnings commentary contains, and statements that will be made during the accompanying webinar will contain, forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including under the “Q2’25 Business Outlook” section herein, our statement regarding our business focus, our statement regarding the expansion and diversification of our global supply chain and the quote from our CEO and founder, including, among other things, (i) projected revenue, GAAP and non-GAAP gross margin, GAAP and non-GAAP operating expenses, stock-based compensation and related expenses, amortization of acquisition-related intangible assets, other income before foreign exchange gains or losses, and fully diluted shares outstanding, (ii) our outlook for the second quarter of fiscal year 2025 and the near-term, medium-term and long-term prospects of MPS, including our ability to adapt to changing market conditions, performance against our business plan, our ability to grow despite the various challenges facing our business, our industry and the global economic environment, revenue growth in certain of our market segments, potential new business segments, our continued investment in research and development (“R&D”), expected revenue growth, customers’ acceptance of our new product offerings, the prospects of our new product development, our expectations regarding market and industry segment trends and prospects, and our projected expansion of capacity and the impact it may have on our business, (iii) our ability to penetrate new markets and expand our market share, (iv) the seasonality of our business, (v) our ability to reduce our expenses, and (vi) statements regarding the assumptions underlying or relating to any statement described in (i), (ii), (iii), (iv), or (v). These forward-looking statements are not historical facts or guarantees of future performance or events, are based on current expectations, estimates, beliefs, assumptions, goals, and objectives, and involve significant known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from the results expressed by these statements. Readers of this earnings commentary and listeners to the accompanying conference call are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ include, but are not limited to, continued uncertainties in the global economy, including due to the Russia-Ukraine and Middle East conflicts, global tariffs and retaliatory measures, inflation, consumer sentiment and other factors; adverse events arising from orders or regulations of governmental entities, including such orders or regulations that impact our customers or suppliers, and adoption of new or amended accounting standards; adverse changes in laws and government regulations such as tariffs on imports of foreign goods, export regulations and export classifications, and tax laws or the interpretation of same, including in foreign countries where MPS has offices or operations; the effect of export controls, trade and economic sanctions regulations and other regulatory or contractual limitations on our ability to sell or develop our products in certain foreign markets, particularly in China; our ability to obtain governmental licenses and approvals for international trading activities or technology transfers, including export licenses; acceptance of, or demand for, our products, in particular the new products launched recently, being different than expected; our ability to increase market share in our targeted markets; difficulty in predicting or budgeting for future customer demand and channel inventories, expenses and financial contingencies (including as a result of any continuing impact from the Russia-Ukraine and Middle East conflicts); our ability to efficiently and effectively develop new products and receive a return on our R&D expense investment; our ability to attract new customers and retain existing customers; our ability to meet customer demand for our products due to constraints on our third-party suppliers’ ability to manufacture sufficient quantities of our products or otherwise; our ability to expand manufacturing capacity to support future growth; adverse changes in production and testing efficiency of our products; any political, cultural, military, regulatory, economic, foreign exchange and operational changes in China, where a significant portion of our manufacturing capacity comes from; any market disruptions or interruptions in our schedule of new product development releases; our ability to manage our inventory levels; adequate supply of our products from our third-party manufacturing partners; adverse changes or developments in the semiconductor industry generally, which is cyclical in nature, and our ability to adjust our operations to address such changes or developments; the ongoing consolidation of companies in the semiconductor industry; competition generally and the increasingly competitive nature of our industry; our ability to realize the anticipated benefits of companies and products that MPS acquires, and our ability to effectively and efficiently integrate these acquired companies and products into our operations; the risks, uncertainties and costs of litigation in which MPS is involved; the outcome of any upcoming trials, hearings, motions and appeals; the adverse impact on our financial performance if its tax and litigation provisions are inadequate; our ability to effectively manage our growth and attract and retain qualified personnel; the effect of epidemics and pandemics on the global economy and on our business; the risks associated with the financial market, economy, global tariffs and retaliatory measures, and geopolitical uncertainties, including the Russia-Ukraine and Middle East conflicts; and other important risk factors identified under the caption “Risk Factors” and elsewhere in our Securities and Exchange Commission (“SEC”) filings, including, but not limited to, our Annual Report on Form 10-K filed with the SEC on March 3, 2025. MPS assumes no obligation to update the information in this earnings commentary or in the accompanying webinar.

    Non-GAAP Financial Measures

    This CFO Commentary contains references to certain non-GAAP financial measures. Non-GAAP net income, non-GAAP net income per share, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP other income, net, non-GAAP operating income and non-GAAP income before income taxes differ from net income, net income per share, gross margin, operating expenses, other income, net, operating income and income before income taxes determined in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). Non-GAAP net income and non-GAAP net income per share exclude the effect of stock-based compensation and related expenses, which include stock-based compensation expense and employer payroll taxes in relation to the stock-based compensation, net deferred compensation plan expense (income), amortization of acquisition-related intangible assets and related tax effects. Non-GAAP gross margin excludes the effect of stock-based compensation and related expenses, amortization of acquisition-related intangible assets and deferred compensation plan expense (income). Non-GAAP operating expenses exclude the effect of stock-based compensation and related expenses, amortization of acquisition-related intangible assets and deferred compensation plan income (expense). Non-GAAP operating income excludes the effect of stock-based compensation and related expenses, amortization of acquisition-related intangible assets and deferred compensation plan expense (income). Non-GAAP other income, net excludes the effect of deferred compensation plan expense (income). Non-GAAP income before income taxes excludes the effect of stock-based compensation and related expenses, amortization of acquisition-related intangible assets and net deferred compensation plan expense (income). Projected non-GAAP gross margin excludes the effect of stock-based compensation and related expenses, and amortization of acquisition-related intangible assets. Projected non-GAAP operating expenses exclude the effect of stock-based compensation and related expenses. These non-GAAP financial measures are not prepared in accordance with GAAP and should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. A schedule reconciling non-GAAP financial measures is included at the end of this press release. MPS utilizes both GAAP and non-GAAP financial measures to assess what it believes to be its core operating performance and to evaluate and manage its internal business and assist in making financial operating decisions. MPS believes that the inclusion of non-GAAP financial measures, together with GAAP measures, provides investors with an alternative presentation useful to investors’ understanding of MPS’s core operating results and trends. Additionally, MPS believes that the inclusion of non-GAAP measures, together with GAAP measures, provides investors with an additional dimension of comparability to similar companies. However, investors should be aware that non-GAAP financial measures utilized by other companies are not likely to be comparable in most cases to the non-GAAP financial measures used by MPS. See the GAAP to Non-GAAP reconciliations in the tables set forth below.

    RECONCILIATION OF NET INCOME TO NON-GAAP NET INCOME
    (Unaudited, in thousands, except per share amounts)
     
        Three Months Ended March 31,
        2025   2024
    Net income   $ 133,791     $ 92,541  
                     
    Adjustments to reconcile net income to non-GAAP net income:                
    Stock-based compensation and related expenses     53,811       51,769  
    Amortization of acquisition-related intangible assets     320       291  
    Deferred compensation plan expense (income), net     (6 )     47  
    Tax effect     5,897       (7,156 )
    Non-GAAP net income   $ 193,813     $ 137,492  
                     
    Non-GAAP net income per share:                
    Basic   $ 4.05     $ 2.83  
    Diluted   $ 4.04     $ 2.81  
                     
    Shares used in the calculation of non-GAAP net income per share:                
    Basic     47,851       48,635  
    Diluted     48,006       48,928  
    RECONCILIATION OF GROSS MARGIN TO NON-GAAP GROSS MARGIN
    (Unaudited, in thousands)
        Three Months Ended March 31,
        2025   2024
    Gross profit   $ 353,230     $ 252,441  
    Gross margin     55.4 %     55.1 %
                     
    Adjustments to reconcile gross profit to non-GAAP gross profit:                
    Stock-based compensation and related expenses     1,706       1,900  
    Amortization of acquisition-related intangible assets     287       258  
    Deferred compensation plan expense (income)     (163 )     440  
    Non-GAAP gross profit   $ 355,060     $ 255,039  
    Non-GAAP gross margin     55.7 %     55.7 %
    RECONCILIATION OF OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
    (Unaudited, in thousands)
     
        Three Months Ended March 31,
        2025   2024
    Total operating expenses   $ 184,471     $ 156,954  
                     
    Adjustments to reconcile total operating expenses to non-GAAP total operating expenses:                
    Stock-based compensation and related expenses     (52,105 )     (49,869 )
    Amortization of acquisition-related intangible assets     (33 )     (33 )
    Deferred compensation plan income (expense)     1,193       (3,626 )
    Non-GAAP operating expenses   $ 133,526     $ 103,426  
                     
    RECONCILIATION OF OPERATING INCOME TO NON-GAAP OPERATING INCOME
    (Unaudited, in thousands)
     
        Three Months Ended March 31,
        2025   2024
    Total operating income   $ 168,759     $ 95,487  
                     
    Adjustments to reconcile total operating income to non-GAAP total operating income:                
    Stock-based compensation and related expenses     53,811       51,769  
    Amortization of acquisition-related intangible assets     320       291  
    Deferred compensation plan expense (income)     (1,356 )     4,066  
    Non-GAAP operating income   $ 221,534     $ 151,613  
                     
    RECONCILIATION OF OTHER INCOME, NET, TO NON-GAAP OTHER INCOME, NET
    (Unaudited, in thousands)
     
        Three Months Ended March 31,
        2025   2024  
    Total other income, net   $ 5,131     $ 9,540  
                   
    Adjustments to reconcile other income, net to non-GAAP other income, net:              
    Deferred compensation plan expense (income)     1,350       (4,019 )
    Non-GAAP other income, net   $ 6,481     $ 5,521  
                     
    RECONCILIATION OF INCOME BEFORE INCOME TAXES TO NON-GAAP INCOME BEFORE INCOME TAXES
    (Unaudited, in thousands)
     
        Three Months Ended March 31,
        2025   2024
    Total income before income taxes   $ 173,890     $ 105,027
                   
    Adjustments to reconcile income before income taxes to non-GAAP income before income taxes:              
    Stock-based compensation and related expenses     53,811       51,769
    Amortization of acquisition-related intangible assets     320       291
    Deferred compensation plan expense (income), net     (6 )     47
    Non-GAAP income before income taxes   $ 228,015     $ 157,134
                   
    2025 SECOND QUARTER OUTLOOK
    RECONCILIATION OF GROSS MARGIN TO NON-GAAP GROSS MARGIN
    (Unaudited)
        Three Months Ending
    March 31, 2025
                     
        Low   High
    Gross margin     54.9 %     55.5 %
    Adjustment to reconcile gross margin to non-GAAP gross margin:                
    Stock-based compensation and other expenses     0.3 %     0.3 %
    Non-GAAP gross margin     55.2 %     55.8 %
                     
    RECONCILIATION OF OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
    (Unaudited, in thousands)
        Three Months Ending
    March 31, 2025
                     
        Low   High
    Operating expenses   $ 189,000     $ 195,000  
    Adjustments to reconcile operating expenses to non-GAAP operating expenses:                
    Stock-based compensation and other expenses     (56,400 )     (58,400 )
    Non-GAAP operating expenses   $ 132,600     $ 136,600  
                     

    The MIL Network

  • MIL-OSI: Viper Energy, Inc. Announces Closing of Drop Down Transaction

    Source: GlobeNewswire (MIL-OSI)

    MIDLAND, Texas, May 01, 2025 (GLOBE NEWSWIRE) — Viper Energy, Inc. (NASDAQ: VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”), today announced that it and its operating subsidiary, Viper Energy Partners LLC (the “Operating Company”), have closed their previously announced acquisition of all of the equity interests in certain mineral and royalty interest-owning subsidiaries of Diamondback (the “Drop Down”). The total consideration for the Drop Down consisted of (i) $1.0 billion in cash and (ii) the issuance (the “Equity Issuance”) of 69,626,640 units representing limited liability company interests in the Operating Company and an equivalent number of shares of Viper’s Class B Common Stock, in each case, subject to transaction costs and certain customary post-closing adjustments.

    The mineral and royalty interests acquired by the Operating Company in the Drop Down represent approximately 22,847 net royalty acres in the Permian Basin, approximately 69% of which are currently operated by Diamondback. Viper funded the cash consideration for the Drop Down with (i) proceeds from its previously announced underwritten public offering of shares of its Class A Common Stock, completed on February 3, 2025, and (ii) borrowings under the Operating Company’s revolving credit facility. Immediately following the completion of the Drop Down, Diamondback beneficially owned approximately 53.7% of Viper’s outstanding voting common stock.

    The Drop Down was approved by Viper’s audit committee comprised of all independent directors and the full board of directors, in each case, on January 30, 2025, and by the majority of the Company’s stockholders, other than Diamondback and its subsidiaries, at the special meeting of the Company’s stockholders held on May 1, 2025 (the “Special Meeting”). At the Special Meeting, Viper’s stockholders also approved the Equity Issuance, as required under the rules of The Nasdaq Stock Market LLC.

    About Viper Energy, Inc.

    Viper is a corporation formed by Diamondback to own, acquire and exploit oil and natural gas properties in North America, with a focus on owning and acquiring mineral and royalty interests in oil-weighted basins, primarily the Permian Basin. For more information, please visit www.viperenergy.com.

    About Diamondback Energy, Inc.

    Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.

    Forward-Looking Statements

    This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Viper’s: future performance; business strategy; future operations; estimates and projections of operating income, losses, costs and expenses, returns, cash flow, and financial position; production levels on properties in which Viper has mineral and royalty interests, developmental activity by other operators; reserve estimates and Viper’s ability to replace or increase reserves; anticipated benefits or other effects of strategic transactions (including the Drop Down and other acquisitions or divestitures); and plans and objectives (including Diamondback’s plans for developing Viper’s acreage and Viper’s cash dividend policy and common stock repurchase program) are forward-looking statements. When used in this news release, the words “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “model,” “outlook,” “plan,” “positioned,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions (including the negative of such terms) as they relate to Viper are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Although Viper believes that the expectations and assumptions reflected in its forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond its control. Accordingly, forward-looking statements are not guarantees of Viper’s future performance and the actual outcomes could differ materially from what Viper expressed in its forward-looking statements.

    Factors that could cause the outcomes to differ materially include (but are not limited to) the following: changes in supply and demand levels for oil, natural gas, and natural gas liquids, and the resulting impact on the price for those commodities; the impact of public health crises, including epidemic or pandemic diseases, and any related company or government policies or actions; changes in U.S. energy, environmental, monetary and trade policies, including with respect to tariffs or other trade barriers, and any resulting trade tensions; actions taken by the members of OPEC and Russia affecting the production and pricing of oil, as well as other domestic and global political, economic, or diplomatic developments, including any impact of the ongoing war in Ukraine and the Israel-Hamas war on the global energy markets and geopolitical stability; instability in the financial sector; higher interest rates and their impact on the cost of capital; regional supply and demand factors, including delays, curtailment delays or interruptions of production on Viper’s mineral and royalty acreage, or governmental orders, rules or regulations that impose production limits on such acreage; federal and state legislative and regulatory initiatives relating to hydraulic fracturing, including the effect of existing and future laws and governmental regulations; physical and transition risks relating to climate change and the risks and other factors disclosed in Viper’s filings with the Securities and Exchange Commission, including its Forms 10-K, 10-Q and 8-K, which can be obtained free of charge on the Securities and Exchange Commission’s web site at http://www.sec.gov.

    In light of these factors, the events anticipated by Viper’s forward-looking statements may not occur at the time anticipated or at all. Moreover, new risks emerge from time to time. Viper cannot predict all risks, nor can it assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those anticipated by any forward-looking statements it may make. Accordingly, you should not place undue reliance on any forward-looking statements made in this news release. All forward-looking statements speak only as of the date of this news release or, if earlier, as of the date they were made. Viper does not intend to, and disclaims any obligation to, update or revise any forward-looking statements unless required by applicable law.

    Investor Contact:
    Chip Seale
    +1 432.247.6218
    cseale@viperenergy.com

    The MIL Network

  • MIL-OSI: Monolithic Power Systems Announces Results for the First Quarter Ended March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    KIRKLAND, Wash., May 01, 2025 (GLOBE NEWSWIRE) — Monolithic Power Systems, Inc. (“MPS”) (Nasdaq: MPWR), a fabless global company that provides high-performance, semiconductor-based power electronics solutions, today announced financial results for the quarter ended March 31, 2025.

    The financial results for the quarter ended March 31, 2025 were as follows:

    • Revenue was $637.6 million for the quarter ended March 31, 2025, a 2.6% increase from $621.7 million for the quarter ended December 31, 2024 and a 39.2% increase from $457.9 million for the quarter ended March 31, 2024.
    • GAAP gross margin was 55.4% for the quarter ended March 31, 2025, compared with 55.1% for the quarter ended March 31, 2024.
    • Non-GAAP gross margin (1) was 55.7% for the quarter ended March 31, 2025, excluding the impact of $1.7 million for stock-based compensation and related expenses, $0.3 million for amortization of acquisition-related intangible assets and $0.2 million for deferred compensation plan income, compared with 55.7% for the quarter ended March 31, 2024, excluding the impact of $1.9 million for stock-based compensation and related expenses, $0.4 million for deferred compensation plan expense and $0.3 million for amortization of acquisition-related intangible assets.
    • GAAP operating expenses were $184.5 million for the quarter ended March 31, 2025, compared with $157.0 million for the quarter ended March 31, 2024.
    • Non-GAAP operating expenses (1) were $133.5 million for the quarter ended March 31, 2025, excluding $52.1 million for stock-based compensation and related expenses and $1.2 million for deferred compensation plan income, compared with $103.4 million for the quarter ended March 31, 2024, excluding $49.9 million for stock-based compensation and related expenses and $3.6 million for deferred compensation plan expense.
    • GAAP operating income was $168.8 million for the quarter ended March 31, 2025, compared with $95.5 million for the quarter ended March 31, 2024.
    • Non-GAAP operating income (1) was $221.5 million for the quarter ended March 31, 2025, excluding $53.8 million for stock-based compensation and related expenses, $1.4 million for deferred compensation plan income and $0.3 million for amortization of acquisition-related intangible assets, compared with $151.6 million for the quarter ended March 31, 2024, excluding $51.8 million for stock-based compensation and related expenses, $4.1 million for deferred compensation plan expense and $0.3 million for amortization of acquisition-related intangible assets.
    • GAAP other income, net was $5.1 million for the quarter ended March 31, 2025, compared with $9.5 million for the quarter ended March 31, 2024.
    • Non-GAAP other income, net (1) was $6.5 million for the quarter ended March 31, 2025, excluding $1.4 million for deferred compensation plan expense, compared with $5.5 million for the quarter ended March 31, 2024, excluding $4.0 million for deferred compensation plan income.
    • GAAP income before income taxes was $173.9 million for the quarter ended March 31, 2025, compared with $105.0 million for the quarter ended March 31, 2024.
    • Non-GAAP income before income taxes (1) was $228.0 million for the quarter ended March 31, 2025, excluding $53.8 million for stock-based compensation and related expenses and $0.3 million for amortization of acquisition-related intangible assets, compared with $157.1 million for the quarter ended March 31, 2024, excluding $51.8 million for stock-based compensation and related expenses and $0.3 million for amortization of acquisition-related intangible assets.
    • GAAP net income was $133.8 million and $2.79 per diluted share for the quarter ended March 31, 2025. Comparatively, GAAP net income was $92.5 million and $1.89 per diluted share for the quarter ended March 31, 2024.
    • Non-GAAP net income (1) was $193.8 million and $4.04 per diluted share for the quarter ended March 31, 2025, excluding $53.8 million for stock-based compensation and related expenses, $0.3 million for amortization of acquisition-related intangible assets and $5.9 million for related tax effects, compared with $137.5 million and $2.81 per diluted share for the quarter ended March 31, 2024, excluding $51.8 million for stock-based compensation and related expenses, $0.3 million for amortization of acquisition-related intangible assets and $7.2 million for related tax effects.

    The following is a summary of revenue by end market (in thousands):

        Three Months Ended March 31,
    End Market   2025   2024
    Storage and Computing   $ 188,511   $ 106,121
    Automotive     144,904     87,092
    Enterprise Data     132,924     149,727
    Communications     71,671     46,645
    Consumer     56,947     38,074
    Industrial     42,597     30,226
    Total   $ 637,554   $ 457,885

    “Our proven, long-term growth strategy remains intact as we continue our transformation from being a chip-only, semiconductor supplier to a full service, silicon-based solutions provider,” said Michael Hsing, CEO and founder of MPS. 

    Business Outlook

    The following are MPS’s financial targets for the second quarter ending June 30, 2025:

    • Revenue in the range of $640.0 million to $660.0 million.
    • GAAP gross margin between 54.9% and 55.5%. Non-GAAP gross margin (1) between 55.2% and 55.8%, which excludes the impact from stock-based compensation and related expenses as well as the impact from amortization of acquisition-related intangible assets.
    • GAAP operating expenses between $189.0 million and $195.0 million. Non-GAAP operating expenses (1) between $132.6 million and $136.6 million, which excludes estimated stock-based compensation and related expenses in the range of $56.4 million to $58.4 million.
    • Total stock-based compensation and related expenses of $58.3 million to $60.3 million including approximately $1.9 million that would be charged to cost of goods sold.
    • Interest and other income in the range of $6.2 million to $6.6 million before foreign exchange gains or losses.
    • Non-GAAP tax rate of 15% for 2025.
    • Fully diluted shares outstanding between 47.9 million and 48.3 million.

    (1) Non-GAAP net income, non-GAAP net income per share, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP other income, net and non-GAAP income before income taxes differ from net income, net income per share, gross margin, operating expenses, operating income, other income, net and income before income taxes determined in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). Non-GAAP net income and non-GAAP net income per share exclude the effect of stock-based compensation and related expenses, which include stock-based compensation expense and employer payroll taxes in relation to the stock-based compensation, net deferred compensation plan expense (income), amortization of acquisition-related intangible assets and related tax effects. Non-GAAP gross margin excludes the effect of stock-based compensation and related expenses, amortization of acquisition-related intangible assets and deferred compensation plan expense (income). Non-GAAP operating expenses exclude the effect of stock-based compensation and related expenses, amortization of acquisition-related intangible assets and deferred compensation plan income (expense). Non-GAAP operating income excludes the effect of stock-based compensation and related expenses, amortization of acquisition-related intangible assets and deferred compensation plan expense (income). Non-GAAP other income, net excludes the effect of deferred compensation plan expense (income). Non-GAAP income before income taxes excludes the effect of stock-based compensation and related expenses, amortization of acquisition-related intangible assets and net deferred compensation plan expense (income). Projected non-GAAP gross margin excludes the effect of stock-based compensation and related expenses, and amortization of acquisition-related intangible assets. Projected non-GAAP operating expenses exclude the effect of stock-based compensation and related expenses. These non-GAAP financial measures are not prepared in accordance with GAAP and should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. A schedule reconciling non-GAAP financial measures is included at the end of this press release. MPS utilizes both GAAP and non-GAAP financial measures to assess what it believes to be its core operating performance and to evaluate and manage its internal business and assist in making financial operating decisions. MPS believes that the inclusion of non-GAAP financial measures, together with GAAP measures, provides investors with an alternative presentation useful to investors’ understanding of MPS’s core operating results and trends. Additionally, MPS believes that the inclusion of non-GAAP measures, together with GAAP measures, provides investors with an additional dimension of comparability to similar companies. However, investors should be aware that non-GAAP financial measures utilized by other companies are not likely to be comparable in most cases to the non-GAAP financial measures used by MPS. See the GAAP to non-GAAP reconciliations in the tables set forth below.

    Earnings Commentary
    Earnings commentary on the results of operations for the quarter ended March 31, 2025 is available under the Investor Relations page on the MPS website.

    Earnings Webinar
    MPS plans to host a question-and-answer webinar covering its financial results at 2:00 p.m. PT / 5:00 p.m. ET, May 1, 2025. The live event will be held via a Zoom webcast, which can be accessed at: https://mpsic.zoom.us/j/92570889542. The Zoom webcast can also be accessed live over the phone by dialing (669) 444-9171; the webcast ID is 92570889542. A replay of the event will be archived and available for replay for one year under the Investor Relations page on the MPS website.

    Safe Harbor Statement
    This press release contains, and statements that will be made during the accompanying earnings webinar will contain, forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including under the “Business Outlook” section and the quote from our CEO herein, including, among other things, (i) projected revenue, GAAP and non-GAAP gross margin, GAAP and non-GAAP operating expenses, stock-based compensation and related expenses, amortization of acquisition-related intangible assets, other income before foreign exchange gains or losses, and fully diluted shares outstanding, (ii) our outlook for the second quarter of fiscal year 2025 and the near-term, medium-term and long-term prospects of MPS, including our ability to adapt to changing market conditions, performance against our business plan, our ability to grow despite the various challenges facing our business, our industry and the global economic environment, revenue growth in certain of our market segments, potential new business segments, our continued investment in research and development (“R&D”), expected revenue growth, customers’ acceptance of our new product offerings, the prospects of our new product development, our expectations regarding market and industry segment trends and prospects, and our projected expansion of capacity and the impact it may have on our business, (iii) our ability to penetrate new markets and expand our market share, (iv) the seasonality of our business, (v) our ability to reduce our expenses, and (vi) statements regarding the assumptions underlying or relating to any statement described in (i), (ii), (iii), (iv), or (v). These forward-looking statements are not historical facts or guarantees of future performance or events, are based on current expectations, estimates, beliefs, assumptions, goals, and objectives, and involve significant known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from the results expressed by these statements. Readers of this press release and listeners to the accompanying earnings webinar are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ include, but are not limited to, continued uncertainties in the global economy, including due to the Russia-Ukraine and Middle East conflicts, global tariffs and retaliatory measures, inflation, consumer sentiment and other factors; adverse events arising from orders or regulations of governmental entities, including such orders or regulations that impact our customers or suppliers, and adoption of new or amended accounting standards; adverse changes in laws and government regulations such as tariffs on imports of foreign goods, export regulations and export classifications, and tax laws or the interpretation of same, including in foreign countries where MPS has offices or operations; the effect of export controls, trade and economic sanctions regulations and other regulatory or contractual limitations on our ability to sell or develop our products in certain foreign markets, particularly in China; our ability to obtain governmental licenses and approvals for international trading activities or technology transfers, including export licenses; acceptance of, or demand for, our products, in particular the new products launched recently, being different than expected; our ability to increase market share in our targeted markets; difficulty in predicting or budgeting for future customer demand and channel inventories, expenses and financial contingencies (including as a result of any continuing impact from the Russia-Ukraine and Middle East conflicts); our ability to efficiently and effectively develop new products and receive a return on our R&D expense investment; our ability to attract new customers and retain existing customers; our ability to meet customer demand for our products due to constraints on our third-party suppliers’ ability to manufacture sufficient quantities of our products or otherwise; our ability to expand manufacturing capacity to support future growth; adverse changes in production and testing efficiency of our products; any political, cultural, military, regulatory, economic, foreign exchange and operational changes in China, where a significant portion of our manufacturing capacity comes from; any market disruptions or interruptions in our schedule of new product development releases; our ability to manage our inventory levels; adequate supply of our products from our third-party manufacturing partners; adverse changes or developments in the semiconductor industry generally, which is cyclical in nature, and our ability to adjust our operations to address such changes or developments; the ongoing consolidation of companies in the semiconductor industry; competition generally and the increasingly competitive nature of our industry; our ability to realize the anticipated benefits of companies and products that MPS acquires, and our ability to effectively and efficiently integrate these acquired companies and products into our operations; the risks, uncertainties and costs of litigation in which MPS is involved; the outcome of any upcoming trials, hearings, motions and appeals; the adverse impact on our financial performance if its tax and litigation provisions are inadequate; our ability to effectively manage our growth and attract and retain qualified personnel; the effect of epidemics and pandemics on the global economy and on our business; the risks associated with the financial market, economy, global tariffs and retaliatory measures, and geopolitical uncertainties, including the Russia-Ukraine and Middle East conflicts; and other important risk factors identified under the caption “Risk Factors” and elsewhere in our Securities and Exchange Commission (“SEC”) filings, including, but not limited to, our Annual Report on Form 10-K filed with the SEC on March 3, 2025. MPS assumes no obligation to update the information in this press release or in the accompanying earnings webinar.

    About Monolithic Power Systems
    Monolithic Power Systems, Inc. (“MPS”) is a fabless global company that provides high-performance, semiconductor-based power electronics solutions. MPS’s mission is to reduce energy and material consumption to improve all aspects of quality of life. Founded in 1997 by our CEO Michael Hsing, MPS has three core strengths: deep system-level knowledge, strong semiconductor expertise, and innovative proprietary technologies in the areas of semiconductor processes, system integration, and packaging. These combined advantages enable MPS to deliver reliable, compact, and monolithic solutions that are highly energy-efficient, cost-effective, and environmentally responsible while providing a consistent return on investment to our stockholders. MPS can be contacted through its website at www.monolithicpower.com or its support offices around the world.

    Monolithic Power Systems, MPS, and the MPS logo are registered trademarks of Monolithic Power Systems, Inc. in the U.S. and trademarked in certain other countries. 

    Contact:
    Bernie Blegen
    Executive Vice President and Chief Financial Officer
    Monolithic Power Systems, Inc.
    408-826-0777
    MPSInvestor.Relations@monolithicpower.com

    Monolithic Power Systems, Inc.
    Condensed Consolidated Balance Sheets
    (Unaudited, in thousands, except par value)
        March 31,   December 31,
        2025   2024
    ASSETS                
    Current assets:                
    Cash and cash equivalents   $ 637,354     $ 691,816  
    Short-term investments     389,310       171,130  
    Accounts receivable, net     214,866       172,518  
    Inventories     454,793       419,611  
    Other current assets     92,063       109,978  
    Total current assets     1,788,386       1,565,053  
    Property and equipment, net     527,348       494,945  
    Acquisition-related intangible assets, net     9,651       9,938  
    Goodwill     25,944       25,944  
    Deferred tax assets, net     1,318,457       1,326,840  
    Other long-term assets     135,974       194,377  
    Total assets   $ 3,805,760     $ 3,617,097  
                     
    LIABILITIES AND STOCKHOLDERS’ EQUITY                
    Current liabilities:                
    Accounts payable   $ 127,310     $ 102,526  
    Accrued compensation and related benefits     74,785       63,918  
    Other accrued liabilities     161,306       128,123  
    Total current liabilities     363,401       294,567  
    Income tax liabilities     69,535       65,193  
    Other long-term liabilities     105,814       111,570  
    Total liabilities     538,750       471,330  
    Commitments and contingencies                
    Stockholders’ equity:                
    Common stock and additional paid-in capital: $0.001 par value; shares authorized: 150,000; shares issued and outstanding: 47,877 and 47,823, respectively     764,959       706,817  
    Retained earnings     2,545,375       2,487,461  
    Accumulated other comprehensive loss     (43,324 )     (48,511 )
    Total stockholders’ equity     3,267,010       3,145,767  
    Total liabilities and stockholders’ equity   $ 3,805,760     $ 3,617,097  
    Monolithic Power Systems, Inc.
    Condensed Consolidated Statements of Operations

    (Unaudited, in thousands, except per share amounts)
        Three Months Ended March 31,
        2025   2024
    Revenue   $ 637,554     $ 457,885  
    Cost of revenue     284,324       205,444  
    Gross profit     353,230       252,441  
    Operating expenses:                
    Research and development     92,227       75,990  
    Selling, general and administrative     92,244       80,964  
    Total operating expenses     184,471       156,954  
    Operating income     168,759       95,487  
    Other income, net     5,131       9,540  
    Income before income taxes     173,890       105,027  
    Income tax expense     40,099       12,486  
    Net income   $ 133,791     $ 92,541  
                     
    Net income per share:                
    Basic   $ 2.80     $ 1.90  
    Diluted   $ 2.79     $ 1.89  
    Weighted-average shares outstanding:                
    Basic     47,851       48,635  
    Diluted     48,006       48,928  
    RECONCILIATION OF NET INCOME TO NON-GAAP NET INCOME
    (Unaudited, in thousands, except per share amounts)
        Three Months Ended March 31,
        2025   2024
    Net income   $ 133,791     $ 92,541  
                     
    Adjustments to reconcile net income to non-GAAP net income:                
    Stock-based compensation and related expenses     53,811       51,769  
    Amortization of acquisition-related intangible assets     320       291  
    Deferred compensation plan expense (income), net     (6 )     47  
    Tax effect     5,897       (7,156 )
    Non-GAAP net income   $ 193,813     $ 137,492  
                     
    Non-GAAP net income per share:                
    Basic   $ 4.05     $ 2.83  
    Diluted   $ 4.04     $ 2.81  
                     
    Shares used in the calculation of non-GAAP net income per share:                
    Basic     47,851       48,635  
    Diluted     48,006       48,928  
    RECONCILIATION OF GROSS MARGIN TO NON-GAAP GROSS MARGIN
    (Unaudited, in thousands)
        Three Months Ended March 31,
        2025   2024
    Gross profit   $ 353,230     $ 252,441  
    Gross margin     55.4 %     55.1 %
                     
    Adjustments to reconcile gross profit to non-GAAP gross profit:                
    Stock-based compensation and related expenses     1,706       1,900  
    Amortization of acquisition-related intangible assets     287       258  
    Deferred compensation plan expense (income)     (163 )     440  
    Non-GAAP gross profit   $ 355,060     $ 255,039  
    Non-GAAP gross margin     55.7 %     55.7 %
    RECONCILIATION OF OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
    (Unaudited, in thousands)
        Three Months Ended March 31,
        2025   2024
    Total operating expenses   $ 184,471     $ 156,954  
                     
    Adjustments to reconcile total operating expenses to non-GAAP total operating expenses:                
    Stock-based compensation and related expenses     (52,105 )     (49,869 )
    Amortization of acquisition-related intangible assets     (33 )     (33 )
    Deferred compensation plan income (expense)     1,193       (3,626 )
    Non-GAAP operating expenses   $ 133,526     $ 103,426  
    RECONCILIATION OF OPERATING INCOME TO NON-GAAP OPERATING INCOME
    (Unaudited, in thousands)
        Three Months Ended March 31,
        2025   2024
    Total operating income   $ 168,759     $ 95,487  
                     
    Adjustments to reconcile total operating income to non-GAAP total operating income:                
    Stock-based compensation and related expenses     53,811       51,769  
    Amortization of acquisition-related intangible assets     320       291  
    Deferred compensation plan expense (income)     (1,356 )     4,066  
    Non-GAAP operating income   $ 221,534     $ 151,613  
    RECONCILIATION OF OTHER INCOME, NET, TO NON-GAAP OTHER INCOME, NET
    (Unaudited, in thousands)
        Three Months Ended March 31,
        2025   2024
    Total other income, net   $ 5,131     $ 9,540  
                     
    Adjustments to reconcile other income, net to non-GAAP other income, net:                
    Deferred compensation plan expense (income)     1,350       (4,019 )
    Non-GAAP other income, net   $ 6,481     $ 5,521  
    RECONCILIATION OF INCOME BEFORE INCOME TAXES TO NON-GAAP INCOME BEFORE INCOME TAXES
    (Unaudited, in thousands)
        Three Months Ended March 31,
        2025   2024
    Total income before income taxes   $ 173,890     $ 105,027  
                     
    Adjustments to reconcile income before income taxes to non-GAAP income before income taxes:                
    Stock-based compensation and related expenses     53,811       51,769  
    Amortization of acquisition-related intangible assets     320       291  
    Deferred compensation plan expense (income), net     (6 )     47  
    Non-GAAP income before income taxes   $ 228,015     $ 157,134  
    2025 SECOND QUARTER OUTLOOK
    RECONCILIATION OF GROSS MARGIN TO NON-GAAP GROSS MARGIN
    (Unaudited)
        Three Months Ending
        June 30, 2025
        Low   High
    Gross margin     54.9 %     55.5 %
    Adjustment to reconcile gross margin to non-GAAP gross margin:                
    Stock-based compensation and other expenses     0.3 %     0.3 %
    Non-GAAP gross margin     55.2 %     55.8 %
    RECONCILIATION OF OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
    (Unaudited, in thousands)
        Three Months Ending
        June 30, 2025
        Low   High
    Operating expenses   $ 189,000     $ 195,000  
    Adjustments to reconcile operating expenses to non-GAAP operating expenses:                
    Stock-based compensation and other expenses     (56,400 )     (58,400 )
    Non-GAAP operating expenses   $ 132,600     $ 136,600  

    The MIL Network

  • MIL-Evening Report: Logging devastated Victoria’s native forests – and new research shows 20% has failed to grow back

    Source: The Conversation (Au and NZ) – By Maldwyn John Evans, Senior Research Fellow, Fenner School of Environment and Society, Australian National University

    Old growth mountain ash forest in the Maroondah water supply catchment, Victoria. Chris Taylor

    Following the end of native logging in Victoria on January 1 2024, the state’s majestic forests might be expected to regenerate and recover naturally. But our new research shows that’s not always the case.

    We quantified the extent of regeneration following logging in the eucalypt forests of southeastern Australia between 1980 and 2019. This included nearly 42,000 hectares of logged mountain ash forest in Victoria’s Central Highlands.

    We analysed satellite data, logging records, on-ground surveys and drone photography, and discovered that nearly 20% of logged areas failed to regenerate. This represents more than 8,000 hectares of forest lost. All that remains in these areas are grassy clearings, dense shrublands or bare soils.

    We also found the rate of regeneration failure has increased over the past decade. While failure was rare in the 1980s, it became much more common over time – affecting more than 80% of logged sites by 2019.

    These regeneration failures weren’t random. They were found mostly in close proximity to each other, on areas with steep slopes, relatively low elevation, and where the area of clear-felled forest was long and narrow.

    Our research shows more needs to be done to restore Victoria’s forest after logging.

    Failed regeneration in the Upper Thomson water supply catchment.
    Chris Taylor/Lachie McBurnie

    Restoring majestic forests and their vital services

    Victoria is home to some of the most spectacular forests on the planet. They include extensive stands of mountain ash, the tallest flowering plant on Earth, which can grow to almost 100 metres in height. Alpine ash, another giant, can grow up to 60m tall.

    These forests have great cultural significance to Indigenous people and support many recreational and tourism activities.

    Healthy forest ecosystems also deliver clean water and carbon storage services. In fact, mountain ash forests contain more carbon per hectare than most other forests around the world.

    But Victoria’s forests have long been logged for timber and pulp. The main method of logging – clearfelling – scars the landscape, leaving large areas devoid of trees if natural tree regeneration fails.

    Mountain ash is especially vulnerable

    Our research revealed 19.2% of areas logged between 1980 and 2019 in our study area (8,030ha out of 41,819ha cut) failed to regenerate naturally.

    We also found strong evidence of a significant increase in the extent of failed regeneration over 40 years, increasing from less than two hectares per cutblock in 1980 (about 7.5%) to more than nine hectares per cutblock in 2019 (about 85%), on average.

    We found regeneration failure was more likely in mountain ash forests compared with other forest types.

    This adds to the case for listing the mountain ash forests of the Central Highlands of Victoria as a threatened ecological community.

    The presence of non-eucalypt categories of vegetation indicates large areas of regeneration failure in forest near Mt Matlock, in the Central Highlands of Victoria.
    Chris Taylor

    A responsibility to restore

    Under Victoria’s Code of Forest Practice for Timber Production, logged native forests must be properly regenerated within two to three years of harvest.

    That’s because it is nearly impossible for the native forest to regenerate after three years without human intervention. The young trees face too much competition from grass and shrubs.

    These degraded areas no longer hold the value they once did and they cannot provide the same level of ecosystem services such as carbon storage, water purification, or habitat for wildlife.

    With no current government restoration plan, these landscapes will remain degraded indefinitely. The Victorian government retains legal responsibility to restore these degraded forests, but currently lacks any large-scale restoration strategy, making action urgently required.

    Photographs of vegetation categories on logged sites: Eucalyptus regeneration near Toolangi (A), grass-dominated area near Mt Matlock (B), shrubby vegetation at Ballantynes Saddle (C), Daviesia vegetation near Mt Matlock (D), Acacia near Mt Baw Baw (E), and bare earth near Mt Matlock (F).
    Chris Taylor

    A way forward: using green bonds to fund regeneration

    Our research shows the regeneration of forests after logging is not guaranteed. Nature often needs a helping hand. But we need to find ways to fund these projects.

    Globally, governments have used “green bonds” to lower the cost of borrowing tied explicitly to measurable environmental results.

    Victoria already has green bonds “to finance new and existing projects that offer climate change and environmental benefits”. But funds are typically used to finance investments in transport, renewable energy, water and low carbon buildings.

    As part of a coalition of researchers, environmental organisations, and finance sector partners we proposed a A$224 million green bond for forest regeneration. This proposal was put to the Victorian government via the Treasury Corporation of Victoria.

    Green bond funding would help leverage co-investment from the Commonwealth government and philanthropic partners to improve monitoring and biodiversity outcomes in native forests.

    As part of the proposed green bond, areas of logged forest where natural regeneration has failed would be restored.

    Other investments under the green bond could include creating tourism ventures (and associated jobs), controlling feral animals such as deer, and biodiversity recovery – creating habitat for endangered species such as the southern greater glider and Leadbeater’s possum, for example.

    The $224 million required for the ten years of the green bond — or around $22.4 million per year — is less than the substantial losses Victoria incurred on its investment in VicForests over the past decade.

    Our research suggests leaving nature to its own devices would mean losing a fifth of the forests logged over the past 40 years. Bringing the trees back has multiple benefits and would be well worth the investment.

    Maldwyn John Evans receives funding from the Australian Government.

    David Lindenmayer receives funding from The Australian Government, the Australian Research Council and the Victorian Government. He is a Councillor with the Biodiversity Council and a Member of Birdlife Australia.

    Chris Taylor 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. Logging devastated Victoria’s native forests – and new research shows 20% has failed to grow back – https://theconversation.com/logging-devastated-victorias-native-forests-and-new-research-shows-20-has-failed-to-grow-back-254465

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: How the US ‘war on woke’ and women risks weakening its own military capability

    Source: The Conversation (Au and NZ) – By Bethan Greener, Associate Professor of Politics, Te Kunenga ki Pūrehuroa – Massey University

    US Defense Secretary Pete Hegseth during a visit with Michigan Air National Guard troops, April 29. Getty Images

    With US Secretary of Defense Pete Hegseth’s “proud” cancellation this week of the military’s Women, Peace and Security (WPS) program, the “war on woke” has found its latest frontier – war itself.

    Stemming from a United Nations Security Council resolution in 2000, the WPS initiative aimed to increase the participation of women in public institutions, including in the security sector and in peace-making roles.

    The WPS agenda aims to better understand how women, men, boys and girls experience war, peace and security differently. It increases operational effectiveness and supports the underlying goal of gender equality, described by the UN as the “number one predictor of peace”.

    In the military context, it emphasises the need to increase the participation of women and to better protect non-combatant women in war, particularly from the prevalence of conflict-related sexual violence.

    The decision to end the program as part of a wider war on diversity, equity and inclusion seems to assume national security and military power are incompatible with the promotion of racial and gender equality.

    In other words, it assumes certain types of people aren’t really cut out to be “warfighters”. And it asserts that anything other than basic skill (such as weapons handling) undermines readiness and ability in warfare.

    History and the available evidence suggest both ideas are wrong.

    The archetypal warrior envisaged by Hegseth and others is one who relies on very traditional concepts of what constitutes a warrior and who that might be: not female, definitely not transgender, ideally also not gay.

    Recent bans on transgender personnel in the US military, the removal of mandatory mental resilience training, and the
    disappearance” from US museums and memorials of the records of the military contribution of women and minorities, reinforce these ideas.

    The ideal soldier, according to the new doctrine, is straight, white, physically fit, stoic and male. Yet people of all stripes have served their countries ably and with honour.

    Hard-won progress in retreat

    Military service is allocated a privileged kind of status in society, despite (or perhaps because of) the ultimate sacrifice it can entail. That status has long been the preserve of men, often of a particular class or ethnicity.

    But women and minorities around the world have fought for the right to enter the military, often as part of broader campaigns for greater equality within society in general.

    But there remains resistance to these “interlopers”. No matter their individual capabilities, women are painted as too physically weak, as a threat to combat unit cohesion, or a liability because of their particular health needs.

    Women, in particular, are often perceived as being too emotional or lacking authority for military command. Minorities are seen as requiring distracting rules about cultural sensitivity, presenting language challenges, or are stereotyped as not cut out for leadership.

    But problem solving – a key military requirement – is best tackled with a range of views and approaches. Research from the business world shows diverse teams are more successful, including delivering higher financial returns.

    At a more granular level, we also know that minority groups have often outperformed other military units, as exemplified by the extraordinary feats of the New Zealand Māori Pioneer Battalion in World War I and the 28th Māori Battalion in World War II.

    Women, too, have proved themselves many times over, most recently in the wars in Iraq and Afghanistan. As well as matching the skills of their male counterparts, they also had different, useful approaches to roles such as intelligence gathering in conflict zones.

    US Marines on a military exercise – but history shows us there’s more than one type of successful soldier.
    Getty Images

    The ‘woke warrior’

    The competence of military personnel is not determined by sex, gender, sexuality or ethnicity. Rather, competence is determined by a combination of learned skills, training, education, physical ability, mental agility, resilience, experience, interpersonal skills and leadership qualities.

    Any suggestion that military units are best served by being made up of only heterosexual men with “alpha” tendencies is undermined by the evidence. In fact, a monocultural, hypermasculine military may increase the potential for harrassment, bullying or worse.

    Modern military roles also involve a much wider range of skills than the traditional and stereotypically male infantry tasks of digging, walking with a pack, firing guns and killing an enemy.

    In modern warfare, personnel may also need to engage in “hearts and minds” counterinsurgency, or in “grey zone” tactics, where specialisations in intelligence, cyber or drone piloting are more highly prized. Militaries are also much more likely to be deployed to non-warfighting roles, such as humanitarian aid and disaster relief.

    This isn’t to say “controlled aggression” and other traditionally alpha-male attributes don’t have their place. But national military strategies increasingly stress the need to train ethical and compassionate soldiers to successfully carry out government objectives.

    The evolution of war requires the evolution of the military forces that fight them. The cancellation of the Women, Peace and Security program in the US threatens to put a stop to this process, at least in that country.

    Despite Pete Hegseth’s claim to be increasing “warfighting” capability, then, there is a real chance the move will decrease operational effectiveness, situational awareness and problem solving in conflict situations.

    Far from being peripheral, the Women, Peace and Security program is central to the future of all military activity, and to developing conceptions of war, peace and security. Hegseth’s “proud moment” looks less like winning a “war on woke” and more like a retreat from an understanding of the value a diverse military has created.

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

    ref. How the US ‘war on woke’ and women risks weakening its own military capability – https://theconversation.com/how-the-us-war-on-woke-and-women-risks-weakening-its-own-military-capability-255710

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI United Nations: Experts of the Committee on the Elimination of Racial Discrimination Commend Gabon on Special Contingent Composed of Indigenous Persons, Ask Questions on Treatment of Hausa Gabonese Population and Human Trafficking

    Source: United Nations – Geneva

    The Committee on the Elimination of Racial Discrimination today concluded its consideration of the tenth periodic report of Gabon, with Committee Experts commending the State on the establishment of a special contingent in the National Guard made up of indigenous persons, while asking questions on the treatment of the Hausa Gabonese population and steps taken to combat human trafficking.

    Régine Esseneme, Committee Expert and Country Rapporteur, said the Committee was informed that the President of the Transition, the current Head of State, had set up a special contingent in the National Guard composed of members of the indigenous peoples’ communities, with a view to protecting the environment, which was a commendable action.

    Ms. Esseneme asked about the situation of the Hausa Gabonese since their naturalisation as Gabonese citizens in 2015, in terms of facilitating their national integration? What measures were being taken to ensure effective access to birth registration for members of ethnic minorities and indigenous peoples and to ensure the issuance of official identity documents and passports, especially in remote areas?

    Bakri Sidiki Diaby, Committee Expert and Country Co-Rapporteur, asked what was the proportion of Gabonese nationals who were victims of trafficking? What were the main forms of trafficking found in Gabon? What was the profile of the perpetrators of human trafficking, their gender and their nationality? What were the measures for reparation and rehabilitation of victims of trafficking? What was being done by the State to prevent and combat trafficking in persons, including for the purpose of labour exploitation, sexual exploitation and domestic servitude, including of non-citizens, especially children?

    The delegation said the Hausa Gabonese benefitted the same as any other citizen who held Gabonese nationality. A naturalisation decree had been implemented which granted Gabonese nationality to all Hausa people living in the country at the time; this was around 1,000 people. Some people had tried to fall through the cracks and benefit from this decree without actually meeting the requirements, which had a negative impact on the administrative situation. The Ministry of Justice was currently verifying the validity of these documents.

    The delegation said in 2023, Gabon completed the procedure required for the State to be in a position to proactively identify cases of human trafficking by identifying irregular movements. The country was also collecting data in this regard, to identify trends and receive up to date information on this phenomenon in Gabon. Underground networks operated the trafficking of women and children, and irregular migration was the driving force behind this phenomenon. Gabon was working with Benin to find a solution to this issue. The State was fully committed to rolling out the project to have practical solutions to these issues, including police investigations into these cases.

    Introducing the report, Paul-Marie Gondjout, Minister of Justice, Keeper of the Seals of Gabon and head of the delegation, apologised for the late submission of the report, which should have been submitted more than 20 years ago. Since the “ coup of liberation” of 30 August 2023, the country had been engaged in a democratic transition process under the aegis of the President of the Transition. Structured around profound institutional reforms, this inclusive process had laid the foundations for more transparent and democratic governance. A new Constitution was adopted in December 2024, which brought substantial innovations in governance; and the Electoral Code adopted in January 2025 introduced greater involvement of electoral observers, two seats of deputies for the Gabonese diaspora, and the guarantee of the right to vote for incarcerated citizens.

    In concluding remarks, Ms. Esseneme congratulated Gabon for the multi-sectoral approach taken to the dialogue, which had been productive and fruitful. Gabon was urged to do its utmost to implement the recommendations contained in the concluding observations, to ensure ongoing collaboration with the Committee.

    Mr. Gondjout, in his concluding remarks, thanked the Committee for the constructive and respectful exchange which had taken place. Gabon would continue engaging with the Committee and looked forward to the concluding observations and follow-up. It would respond within the timeframes indicated.

    The delegation of Gabon consisted of representatives of the Transitional National Assembly; Ministry of the Interior; Ministry of Health; Ministry of Energy and Water Resources; Ministry of Women and Child Protection; Ministry of National Education; Directorate of Human Rights Protection; Directorate of Criminal Affairs; Directorate of Equal Opportunities; Labour Inspectorate; Central Directorate of Financial Affairs; Directorate of Documentation and Immigration; Immigration Task Force; and the Permanent Mission of Gabon to the United Nations Office at Geneva.

    The Committee will issue its concluding observations on the report of Gabon after the conclusion of its one hundred and fifteenth session on 9 May. The programme of work and other documents related to the session can be found here . Summaries of the public meetings of the Committee can be found here , while webcasts of the public meetings can be found here .

    The Committee will next meet in public on Thursday, 1 May at 3 p.m. to consider the combined eleventh and twelfth periodic reports of Kyrgyzstan (CERD/C/KGZ/11-12).

    Report

    The Committee has before it the tenth periodic report of Gabon (CERD/C/GAB/10).

    Presentation of Report

    PAUL-MARIE GONDJOUT, Minister of Justice, Keeper of the Seals of Gabon and head of the delegation , apologised for the late submission of the report, which should have been submitted more than 20 years ago. It covered the period from 1999 to 2021 and was drafted in an inclusive, participatory process. Since gaining sovereignty, Gabon had promoted equal dignity among all citizens by prohibiting any distinction of race, origin or religion. The country had made the fight against all forms of discrimination one of the priorities in its resolute commitment to building a State governed by the rule of law that respected and protected human rights and guaranteed access to rights for all.

    Since the “ coup of liberation” of 30 August 2023, the country had been engaged in a democratic transition process under the aegis of the President of the Transition. Structured around profound institutional reforms, this inclusive process had laid the foundations for more transparent and democratic governance. A new Constitution was adopted in December 2024, which brought substantial innovations in governance; and the Electoral Code adopted in January 2025 introduced greater involvement of electoral observers, two seats of deputies for the Gabonese diaspora, and the guarantee of the right to vote for incarcerated citizens. The presidential election was held on 12 April, which would be followed on 3 May by the inauguration of the President of the Republic, thus putting an end to the transition. Transitional authorities had taken determined action to periodically update the legislative arsenal to bring it into line with ratified international treaties.

    Statistical data was a major challenge for Gabon. To address this, the Directorate General of Statistics had set up a technical body to carry out the seventh national census, which would provide data on age, gender, ethnicity, nationality and language spoken for the total population, indigenous peoples, ethnic minorities and migrants, as well as information on employment, income level and social protection. The project for the harmonisation and improvement of statistics in West and Central Africa was providing financing of statistical activities between 2025 and 2029, ensuring the production of reliable and regularly updated statistics.

    The Convention was directly applicable in Gabon and took precedence over national laws. To raise awareness of the Convention, several initiatives were implemented during the reporting period, from capacity-building workshops to the dissemination of multilingual communications. In various training schools, the Convention was presented in the module on human rights.

    No Gabonese text defined racial discrimination in the same terms as those in article one of the Convention. However, the Constitutions of 1991 and 2024 had adopted and enshrined the main principles of article one, targeting discrimination based on race, colour, national or ethnic origin and covering several sectors of the population. The Constitution also enshrined the equality of citizens before the law and the courts and the presumption of innocence for accused persons. The Government envisaged developing a national plan of action to combat racial discrimination and related intolerance in the coming year. Training sessions on the issue had been organised and a committee had been set up to develop a draft.

    A law on the reorganisation of the National Human Rights Commission was promulgated in November 2024. The process of re-establishing the institution would be completed in the coming weeks after the selection of the commissioners by the Bureau of the National Assembly. Premises for the Commission were made available in 2014, and it had recruited staff since 2012. Its budget has increased from 12,000,000 CFA francs in 2016 to 592,000,000 in 2025.

    During the period under review, measures were taken to ensure that the Criminal Code and other legislation complied with the Convention. State laws prohibited and penalised acts of racial, religious and ethnic discrimination and regionalist propaganda; secular or religious associations that provoked hatred between ethnic groups; and the dissemination, including online, of racist hate speech, which constituted an aggravating circumstance.

    The High Authority for Communication had imposed sanctions on media outlets on several occasions, but no decision condemning hate speech had been handed down by courts to date. A digital campaign entitled “Gabon against hate” was launched in December 2023 to educate citizens on the dangers of hate speech and disinformation, and in December 2024, the Government organised a workshop on the Central African strategy and action plan for the prevention and response to hate speech and incitement to violence, which led to the drafting of a national action plan.

    The new Constitution recognised civil society organizations as a part of pluralist and participatory democracy. A bill was also submitted in September 2024 on the protection of human rights defenders. Civil society organizations, including the network of human rights defenders, were strongly involved in the transition process, both in the Government and in Parliament.

    To align legislation on migrants with international standards, Gabon prepared a draft law establishing rules governing the admission and residence of foreigners in the Republic. The Government planned to integrate the issue of migrants into the curricula of training schools, particularly at the National School of the Judiciary and the National Police Academy, which also had a module on trafficking in persons.

    Gabon had made commitments at international, regional and national levels to combat trafficking in persons through local initiatives and partnerships with international actors. In 2023, the State party created a commission that was mandated to strengthen the capacities of actors addressing trafficking and establish coordinated mechanisms for the identification, care and protection of victims in each province. In addition, a proposed strategy and action plan on trafficking for the period 2025-2029 would implement actions to prevent the phenomenon, protect victims and prosecute perpetrators.

    Questions by Committee Experts

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur , extended warm congratulations to the elected President of the Republic, Brice Oligui Nguema. She said the Committee had considered Gabon’s last report in 1998 in the absence of a delegation. The State submitted its next report 26 years late in 2024. The report did not provide sufficient information on the implementation of the Committee’s previous concluding observations. However, Ms. Esseneme congratulated the State party on significant developments that had been made in the legal and institutional framework, particularly the prohibition of hate speech.

    Gabon’s new Constitution of 2024 did not contain all the grounds of discrimination provided for in article one of the Convention, including skin colour, national origin and ancestry. Was this Constitution currently in effect? By what mechanism could the Convention be invoked before national courts? Could the delegation give examples of court cases in which Convention provisions had been applied? Were there plans to adopt comprehensive anti-discrimination legislation in line with the Convention? Gabon’s Common Core Document dated from 1998 and did not contain precise information on equality and non-discrimination. Were there plans to update it?

    Was there any legislation in the State party explicitly prohibiting racial profiling by police? Gabonese police reportedly carried out racial profiling checks and extorted foreigners staying in Gabon, demanding sums of money from them that varied depending on whether they held a residence permit. What measures were envisaged to prevent, prohibit and expressly punish racial profiling?

    Was the Government drafting a new Criminal Code that incorporated all the provisions of article four of the Convention? Since the events of 30 August 2023, there had reportedly been a rise in racist hate speech against Gabonese of foreign origin, including the Hausa Gabonese group, and foreigners. What measures had the State party taken to counter this hate speech? Had the Prosecutor’s Office received cases of discriminatory acts against Hausa Gabonese?

    The situation seemed to have deteriorated since the presidential election. Some 500 vehicles belonging to non-nationals employed in a private scheme for disadvantaged people had been seized and impounded. Could the State party provide an update on this case, which appeared to amount to racially motivated violence?

    Did Gabon’s law hold persons from a dominant group to account when they destroyed the property of or committed violence against a member of a minority group? What measures were in place to improve the reporting and monitoring of racist hate crimes and hate speech? What progress had been made through the “Gabon against hate” campaign?

    BAKRI SIDIKI DIABY, Committee Expert and Country Co-Rapporteur, called for data on the demographic composition of the population based on self-identification, disaggregated by ethnic origin; data on migrants, refugees, asylum seekers and stateless people; and disaggregated economic and social indicators on the different groups living in the territory, in particular minority groups? The Committee was concerned about the State’s general lack of disaggregated data, including on ethnicity, needed to monitor progress on human rights and inform policymaking. How was the State addressing this? Did it plan to establish a comprehensive data collection and reporting system that would provide insight into racial discrimination, socio-economic inequalities and implementation of the Convention?

    Responses by the Delegation

    The delegation apologised for Gabon’s lateness in submitting the report. The State party was fully committed to working with the Committee. The transitional authorities sought to fulfil the country’s international obligations.

    The Constitution reflected the principles of the Convention, even though it did not reproduce its provisions word for word. There had been no complaints submitted to courts on racial discrimination. The President would take office in three days’ time, when the new Constitution would enter into force.

    The Convention had supremacy over all domestic laws, and when there were Convention provisions that were contrary to the Constitution, the Constitutional Court could recommend amendments to the Constitution. The Criminal Code was last revised in 2020 and Gabon was engaging in work to further revise the Code to formalise within it all elements of article one of the Convention.

    Police officers apprehended persons based on the acts that they conducted. They did not consider persons’ racial or ethnic identity; State law prohibited racial profiling. The Government worked to promote unity between different ethnic groups and ensure that hate speech did not gain ground.

    Data on ethnic origin was not collected in the previous census of 2013, though data on nationality was. The next census would collect data on age, gender, ethnic origin and languages spoken. The Government had undertaken a project to reform the national statistics system, which aimed to provide more resources to the national statistics institute and to establish officers on statistics in each ministerial department, who would collect data on the implementation of the Convention.

    Last year, a leader of a political party made a statement against an ethnic group; investigations into this incident were ongoing. The State party embraced the Hausa Gabonese and other populations of foreign origin, promoting their integration into society. It sought to resolve institutional friction to ensure such integration. It was not aware of reports of seizing of non-nationals’ vehicles.

    Follow-Up Questions by Committee Experts

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur, asked whether the President would need to approve legislation to bring the new Constitution into force. What happened when constitutional or domestic legal provisions ran counter to international norms? Did victims need to lodge complaints related to hate speech for criminal investigations to start? Did the law on the protection of personal data include measures to prevent racial profiling?

    A Committee Expert said the Committee was very pleased to see the delegation of Gabon after nearly a quarter-century and looked forward to continued dialogue with the State. In 2011, a law was implemented that addressed ritualistic crimes against children. What measures had the State party taken to protect children from these crimes? How many children were affected by such crimes?

    Responses by the Delegation

    The delegation said the new Constitution was in force, but its content on ceasing the transitional process was not applicable immediately. The Constitutional Court assessed new laws to ensure that they were aligned with the Convention and the Constitution. It informed the Government when laws contained provisions that did not align with the Convention and called for their revision.

    The Higher Authority on Communication could suggest administrative sanctions against media agencies that disseminated hate speech.

    There were no legal provisions that specifically referred to “ritualistic crimes”, but there were provisions punishing related acts, such as murder and removal of vital organs, as aggravated crimes.

    Questions by Committee Experts

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur, said Gabon had not adopted a plan of action to combat racial discrimination. What measures had the State party taken to develop such a plan and implement the Durban Programme of Action, and what results had it obtained?

    The National Human Rights Commission was reorganised in November 2024. Had the State party applied for accreditation from the Global Alliance of National Human Rights Institutions? The Commission received and examined complaints from individuals and victims. What was the procedure for this, and how many complaints had it examined, including related to racial discrimination? How was the Commission raising awareness about human rights protections? The Commission’s financial resources had been significantly increased; the Committee hoped that this would strengthen the Commission’s ability to combat racial discrimination.

    The registration procedure for non-governmental organizations was reportedly very expensive and inconsistent, which discouraged organizations from carrying out their activities. The Committee had not received any alternative report from civil society. How was the State party encouraging this? What progress had been made in establishing a consultation framework between the State and civil society, and in developing a law on human rights defenders? Human and environmental rights defenders in the country were highly vulnerable to abuses and reprisals, including women, farmers and indigenous peoples fighting against deforestation. What measures were being taken to ensure the protection of human rights defenders who fought against racial discrimination and defended indigenous peoples and migrants?

    The Committee welcomed that the State automatically appointed a lawyer to accused persons who could not afford one, and that such persons benefitted from the presumption of innocence. How many persons had benefitted from legal aid in the last two years, including persons from ethnic minorities?

    What continuous training or awareness raising activities were being carried out for the judiciary, law enforcement officials and the public on human rights, international human rights treaties, non-discrimination and minority rights? Did training on human rights for security and defence forces address the Convention? What measures had been implemented to support the filing of complaints and claims for redress in cases of racial discrimination, particularly for ethnic minorities, indigenous peoples and non-citizens? Victims often struggled to prove that they had been discriminated against when perpetrators held positions of authority. Did the State party intend to introduce a reversal of the burden of proof in favour of victims of discrimination? How would the State bring the administration of justice closer to rural areas inhabited by indigenous peoples, and remove obstacles related to linguistic diversity?

    What progress had been made on introducing human rights education into school curricula and higher education? Did curricula address the Convention, combatting racial discrimination, and the history, culture and traditions of the different ethnic groups and indigenous peoples? What difficulties did the State party encounter in promoting education on national languages? Were there any community radio stations in the State party where information was disseminated in local languages and indigenous languages such as Baka? What programmes were in place to promote ethnic cultures and traditions and social cohesion?

    BAKRI SIDIKI DIABY, Committee Expert and Country Co-Rapporteur, said the new Constitution stipulated that citizens’ gatherings, demonstrations or parades in public spaces needed to be authorised under the conditions provided for by law. This seemed to restrict freedom of assembly and contradict 2017 legislation calling only for a declaration of planned gatherings. Why had this regressive change been made? How would the State party bring its rules on freedom of assembly in line with international standards? Were remedies available for persons whose demonstrations had been banned?

    In February 2021, tear gas and grenades were used in Libreville and Port Gentil to disperse a crowd demonstrating in opposition to the restrictions imposed during the COVID-19 pandemic. What justified this use of public force? Had investigations been carried out to establish responsibility? Could legislation on assembly be used to restrict private meetings? What measures had the State party adopted to ensure that indigenous peoples, ethnic minorities and non-citizens could exercise their right to freedom of assembly without discrimination, including at demonstrations in opposition to infrastructure projects or calling for protection of the environment and natural resources?

    FAITH DIKELEDI PANSY TLAKULA, Committee Expert and Follow-Up Rapporteur , said she was encouraged by the State’s desire to strengthen its institutions. How were the members of the National Human Rights Commission appointed and to whom were they accountable? The State party had not ratified the African Charter on Democracy, Elections and Governance. Did it plan to do so?

    Responses by the Delegation

    The delegation said that the National Human Rights Commission would apply for accreditation with the Global Alliance of National Human Rights Institutions. Funding for the Commission had increased exponentially. Legislation on the re-establishment of the Commission was in line with the Paris Principles; it had been developed with the Office of the High Commissioner for Human Rights. There had not been any complaints of racial discrimination submitted to the Commission yet. The State party would work to raise awareness of the Commission’s complaints mechanism.

    The Commission and civil society were involved in drafting the State party’s reports to treaty bodies. Civil society had submitted alternative reports to the Human Rights Committee, and training had been provided to civil society on preparing such reports. Reports that the procedure for creating non-governmental organizations was onerous were false. There were no costs associated with creating such organizations in Gabon.

    Gabon sought to rebuild its institutions based on justice. It had set up a legal aid office, which provided legal aid to vulnerable persons, and sought to strengthen this system and make it accessible throughout the country. There was no discrimination in the provision of legal aid. All plaintiffs appearing before a criminal court needed to be represented by a lawyer. The State party would consider revising the Criminal Code to reverse the burden of proof for cases involving racial discrimination.

    The new Constitution enshrined the principles of freedom of expression and assembly for all citizens. Legislation set up a system of declaration for public demonstrations; there was no authorisation system. Individuals who had been banned from holding demonstrations could file administrative appeals and appeals with the courts. There were no barriers to the freedom of expression in Gabon.

    Human rights education was part of the Gabonese civic education programme from primary level onwards. There had been an initiative to bolster this programme and to provide human rights education in vocational training institutions. Teaching on national languages was provided in religious establishments, and there were plans to include national language education in the general primary and secondary curricula.

    The new members of the National Human Rights Commission would be appointed by an ad-hoc committee within the National Assembly through a transparent process that ensured appropriate geographic balance. These members would be standing, independent members. Members’ reports would be sent to relevant institutions for follow-up.

    Initial training for members of the magistracy included a module on human rights, and ongoing training was provided on certain issues, for example concerning migrants and trafficking.

    Questions by a Committee Expert

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur, asked which groups in Gabon self-determined as national minorities, even though the State declared it did not grant them legal status? What was the situation of the Hausa Gabonese since their naturalisation as Gabonese citizens in 2015, in terms of facilitating their national integration? According to information received by the Committee, the State was struggling to issue birth certificates and national identity cards to ethnic and indigenous minorities. What measures were being taken to ensure effective access to birth registration for members of ethnic minorities and indigenous peoples and to ensure the issuance of official identity documents and passports, especially in remote areas?

    It was reported that in 2022, people returning from holidays, whose surnames sounded foreign, had had their passports taken away by border police officers, and they had to go and collect them and justify their Gabonese nationality. What was at the origin of this search for the original “Gabonness” that seemed to be coming back in force since the events of August 2023? What was the State party doing to ensure social cohesion in these circumstances?

    How many members of the indigenous peoples’ communities held positions of responsibility in the central and local State administration? What measures were being taken to strengthen the political and administrative capacities of the members of these communities for better representation? What was the proportion of women, and particularly women from indigenous peoples and the Hausa Gabonese minority, in elective and decision-making positions in the civil service? Did it mean the State would prefer to appoint a less qualified man to a senior job in the State rather than a highly qualified woman, if the 30 per cent quota for women was reached? What measures had the State party taken to prevent and combat racial discrimination in the workplace, as well as abusive practices and labour exploitation, in particular against indigenous peoples and other minorities?

    From the report, it appeared the State party was made up of the Baka, Babongo, Bakoya, Baghame, Barimba, Akoula and Akwoa ethnic groups that were settled in different regions of Gabonese territory. What were the legal and institutional frameworks, as well as policies and programmes established for the promotion and protection of the specific rights of these indigenous peoples? What measures had been taken to enable indigenous peoples to enjoy genuine equality of opportunity and treatment with other members of the population? How many indigenous peoples were there in Gabon?

    What mechanism had been implemented to conduct prior consultations to obtain the free and informed consent of the indigenous peoples concerned by projects, including the deployment of fibre optics, and to involve them in their implementation? Was there a permanent framework for cooperation with community leaders or associations that represented these populations? Who were the ethnic groups of the indigenous inhabitants of the 26 villages concerned by the development project, being conducted with the United Nations Children’s Fund?

    The Committee was informed that the President of the Transition, the current Head of State, had set up a special contingent in the National Guard composed of members of the indigenous peoples’ communities, with a view to protecting the environment, which was a commendable action. It was hoped this would not be an isolated act.

    According to available information, entire villages populated by indigenous communities had been displaced without prior consent for mining projects in Bakoumba, and had been relocated to undesirable and polluted areas, with no action taken by the authorities to follow up on the complaints of those affected by the pollution. Could information on this situation be provided? What measures were being taken to ensure the right of indigenous peoples to own, develop, control and use the lands, resources and community territories that they traditionally occupied or used? What tools did the Government use to promote equal opportunities in education and training? How were the specific needs of indigenous peoples taken into account? Did pre-primary and primary education include the teaching of mother tongue languages?

    The Gabonese Government had adopted a commendable housing policy with the home savings plan put in place since March 2019. However, a World Bank report from 2020 revealed that more than one in two households did not have access to decent housing. What was the real situation in terms of housing? Could information be provided on the poverty rate among indigenous peoples and other minorities and their access to basic services?

    The education system had specialised facilities for children with hearing impairments, including those belonging to indigenous peoples and other minorities. What was the situation of the education of other children with special needs, such as autistic children, considered in some societies to be evil or sorcerous children? Given that some 50 national languages were spoken in Gabon, what languages were used within the media and what methodology was used to choose these languages? Were there programmes in the Baka and Koya languages that were spoken by indigenous peoples? What measures had been taken to promote the dissemination of and respect for the traditions and culture of the different ethnic groups in Gabon, and to protect indigenous languages, such as Baka and Koya?

    Responses by the Delegation

    Regarding the Hausa whose passports were removed if their names sounded foreign, the delegation said there were people who had not been careful to keep up with the administrative situation in the country in which they lived. They may not see the importance of having birth and identity documents. This meant today, when the State was focused on restoring its institutions, these matters came to the surface. There had been some confusing situations which arose because many people had held fake documents for a long time before. The Government was looking into this issue as a matter of national security.

    Members of the Hausa population benefitted the same as any other citizen who held Gabonese nationality. A naturalisation decree had been implemented which granted Gabonese nationality to all Hausa people living in the country at the time; this was around 1,000 people. Some people had tried to fall through the cracks and benefit from this decree without actually meeting the requirements, which had a negative impact on the administrative situation. The Ministry of Justice was currently verifying the validity of these documents.

    It was true that there were more women than men in Gabon. However, when it came to elections, not many women wanted to participate in political life, and the State wanted to change this. This was why legislation had been developed which established quotas; this aimed to be positive discrimination for women. The quotas intended to encourage more women to become involved in political life at the local and national level. The 30 per cent minimum quota was in place for all political parties, with the requirement that 30 per cent of all candidates should be women. The State also aimed to encourage more young people and persons with disabilities to become involved in political life.

    Indigenous peoples were included in Gabon’s social protection coverage. They were covered by the social protection system and received unemployment and health benefits. The 26 villages covered by the support programme were villages with people from Baka, Bango and other groups. Work was done with pregnant women to ensure neonatal services were provided, especially in remote parts of the country where many indigenous groups lived. The State had set up a centre for autistic children and aimed to roll this out to other parts of the country.

    In 2016, a programme was launched to combat all forms of discrimination in employment, healthcare and education, and other areas of public life. The State sought to support all levels of society in Gabon through this programme, which covered indigenous peoples, women and other vulnerable groups. All programmes were intended to promote equality of opportunity for all. Indigenous peoples, regardless of where they were located in the country, could benefit from State programmes.

    In Gabon, there was an observatory which focused on the issue of equality and undertook various studies, including a recent one on the equality of opportunity for indigenous peoples in Gabon. On the basis of this study, an action plan had been developed, with policies to be rolled out to address the situation of indigenous peoples in the country. The most recent census had enabled the State to identify 15,000 persons with disabilities who needed additional support, and actions relating to education and health were carried out in this regard. Gabon was on the right track in terms of indigenous peoples, as the State was pursuing inclusive policies, taking into account all persons on the territory of the country.

    Questions by Committee Experts

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur, said several questions had not been answered, namely on the languages used in the media; the use of land by indigenous peoples; and the medicinal practices of indigenous peoples. There had been a case where indigenous peoples were forcibly removed from their village and transported to polluted areas; could this be addressed? Was it correct that the 30 per cent quota was a minimum? If there was a list of candidates which did not reach the minimum threshold, was it then rejected? Was the State considering an individualised approach to the Hausa Gabonese?

    A Committee Expert asked if the State looked at issues which might be particularly harmful to indigenous peoples, and then adopted policies and programmes to address these issues?

    Another Committee Expert asked what members of the delegation meant when they said they did not recognise minorities as a legal concept? Did this mean these minorities did not qualify for legal protection?

    An Expert asked if the State had investigated what held women back from applying for election posts?

    A Committee Expert said Gabon had last reviewed the Constitution in 2011. How had Gabon addressed the issues of discrimination in education?

    Responses by the Delegation

    The delegation clarified that Gabon had a brand-new Constitution. The law on data protection stated that it was prohibited to collect or process any data which revealed the racial or ethnic background of an individual, their political or religious views, and data related to their sex life or health, among other points. The profiling of children was strictly prohibited, except when strictly necessary. Personal data could be accessed on the grounds of State security defence. When the police were carrying out controls or checks, they treated all passengers in stopped vehicles the same; everyone was asked to show their identity documents.

    When the 30 per cent quotas were not achieved, steps were taken to encourage favourable treatment for women, by ensuring a male and female alternance for candidates in electoral lists, to achieve the 30 per cent representation. This was a “carrot rather than stick” approach. Women were being encouraged to overcome cultural blocks and stand for leadership roles. A workshop had been held last week which sought to address the grassroot social issues, including that women were typically viewed as homemakers and housewives. The quota law aimed to break these traditional mindsets.

    Gabon had enacted specific measures, including the law on persons with disabilities, which mandated that education was compulsory for all children with disabilities. Education was compulsory by law for all children between ages three and 16 in Gabon. A forum was organised in 2019 on the implementation of inclusive education. New schools being built were required to meet accessibility standards, to ensure free and easy access for children with motor disabilities.

    The relocation of individuals in certain areas had been required, but the fact that they were relocated to polluted areas was refuted. Some people had to accustom themselves to living in a new location, but it was the sovereign right of the State to ensure they could tap their resources for the overall benefit of the country. More information about the claims would be appreciated. There were community radio stations which broadcast programmes in local indigenous languages.

    Questions by Committee Experts

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur, said there had been no shadow report received from Gabonese civil society. The information regarding the relocation of indigenous peoples had been received by the Committee members which was why they asked the question. State sovereignty should not be used against the population, but rather for their wellbeing.

    What measures had been adopted, including special measures or affirmative action measures, with a view to combatting inequalities and multiple forms of discrimination, including racial discrimination, with regard to ethnic minorities and indigenous peoples, such as the Baka, Babongo, Bakoya, Baghame, Barimba, Akoula and Akwoa? To what extent did the 2018 national strategy to combat gender-based violence and the law on the elimination of violence against women take into account the specific needs of indigenous girls and women? What other measures had been adopted to address the multiple and intersecting forms of discrimination faced by women belonging to ethnic minorities, indigenous peoples, and other vulnerable groups?

    BAKRI SIDIKI DIABY, Committee Expert and Country Co-Rapporteur, said law no. 5/86, establishing the regime for the admission and residence of foreigners in the Gabonese Republic, provided for severe fines and imprisonment for foreigners in an irregular situation, which considerably reduced the scope of protection for persons who arrived in Gabon irregularly or those already in Gabon in need of international protection. What measures had been taken by the State party to harmonise its national legislation, including this law, with international obligations, in particular to decriminalise irregular migration? What measures had been adopted to prevent and combat racial discrimination and xenophobia against migrants, asylum seekers, refugees and stateless persons, and to facilitate the integration of non-citizens?

    What measures had been adopted by the State party to ensure that the practical application of the policy of “Gabonisation” of employment did not lead to cases of discrimination in hiring and dismissal on the basis of race, colour, descent or national or ethnic origin? According to a provision within the refugee act, the majority of refugees in Gabon lived with families. What was the profile of these families? How was the legal integration of refugees carried out? What were the socio-demographic, spatial and legal-administrative characteristics of the descendants of refugees in Libreville? Clear procedures were needed to ensure the prompt identification of persons seeking international protection at land borders and arrivals by sea; what measures were being taken in this regard? What had been done to strengthen the National Commission for Refugees?

    The Committee had been told that asylum seekers remained excluded from the national medical insurance scheme and did not have access to medical services pending a decision on their refugee status. What steps had been taken to extend primary health care to asylum seekers who were awaiting a final decision on their refugee status? What efforts had the Gabonese Government made to develop and implement a statelessness determination procedure? The Committee had been informed that many foreigners were forced by the administrative services to add so-called “Gabonese” surnames to their surnames, which discouraged some parents of children born in Gabon from finalising the procedures for obtaining Gabonese nationality or identity documents; what measures had been taken to address these situations?

    What was the proportion of Gabonese nationals who were victims of trafficking? What were the main forms of trafficking found in Gabon? Did forced labour include domestic servitude, commercial exploitation and sexual exploitation? What was the profile of the perpetrators of human trafficking, their gender, and their nationality? How many cases had been prosecuted and convicted? What were the measures for reparation and rehabilitation of victims of trafficking? What was being done by the State to prevent and combat trafficking in persons, including for the purpose of labour exploitation, sexual exploitation and domestic servitude, including of non-citizens, especially children? Had appropriate resources been allocated to the National Commission for the Prevention and Combatting of Trafficking in Persons to enable it to carry out its mandate?

    Responses by the Delegation

    The delegation said a guide had been produced to inform people on how to tackle different forms of violence, including sexual violence, and how to support victims. A specific programme had been developed for indigenous children with nomadic lifestyles. Gabon provided support to refugees and asylum seekers as required. The right to health was recognised as a universal human right. Those in an irregular situation received healthcare regardless of their status.

    There was a small number of cases of irregular migration in Gabon today. In recent years, it was ensured that migrants in an irregular situation had been provided with documents and put into a regular situation.

    In 2023, Gabon completed the procedure required for the State to be in a position to proactively identify cases of human trafficking by identifying irregular movements. The country was also collecting data in this regard, to identify trends and receive up to date information on this phenomenon in Gabon. Transnational networks existed, operating by both land and sea. Underground networks operated trafficking of women and children, and irregular migration was the driving force behind this phenomenon. Gabon was working with Benin to find a solution to this issue. The State was fully committed to rolling out the project to have practical solutions to these issues, including police investigations into these cases. Trafficking was a transnational problem, and it was important to go back to the country of origin.

    Everyone in Gabon enjoyed the right to freedom of assembly. Indigenous peoples were dealt with on an equal footing, the same way as other citizens in Gabon. They were appropriately supported if they wished to establish associations. If the laws on equal treatment were not respected, appropriate penalties would be handed down.

    Legislation established the National Commission for the Prevention of Human Trafficking in Gabon. The Commission spearheaded a national strategy to counter trafficking. Gabon was a party to the 1951 Geneva Convention on Refugees. An appeals mechanism existed for those who were not satisfied with their asylum decision. There were no refugee camps in Gabon; refugees and asylum seekers shared the same schools and hospitals as Gabonese citizens. A refugee held the same rights as a Gabonese citizen. A refugee card was issued and gave access to many of the same rights as an identity card.

    BAKRI SIDIKI DIABY, Committee Expert and Country Co-Rapporteur, congratulated Gabon on the mechanism adopted to tackle human trafficking. Could statistics on the number of stateless people be provided? 

    A Committee Expert asked what steps had been taken by the Gabonese Government to push back against hate speech and xenophobia? Would Gabon ratify the Convention on the Rights of Migrants and Members of their Families?

    Another Expert asked if history education was compulsory in the State party at all levels of the education system? Given the colonial legacy of the State party, to what extent did the educational curricula cover this issue? Was Gabon supportive of the concept of reparations for colonial wrongs?

    A Committee Expert asked if any measures had been taken to eradicate malaria, particularly among migrants and asylum seekers?

    Another Expert asked how refugees were cared for in Gabon, including accommodation needs, in light of the fact that there were no camps?

    An Expert said Gabon had made good progress in regard to the education of children with disabilities. Had Gabon ratified the Convention on the Protection of Persons with Disabilities, and instruments on displaced persons.

    One Expert paid tribute to the father of the Gabonese nation.

    Responses by the Delegation

    The delegation said in history classes in public schools, there was no political link with colonialism. The curriculum was based on the programme drafted by a national pedological institution.

    Closing Remarks

    FAITH DIKELEDI PANSY TLAKULA, Committee Expert and Follow-up Rapporteur , said it would be the first time that Gabon would receive recommendations with a follow-up. Several recommendations would be highlighted for follow-up within one year.

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur, congratulated Gabon for the multi-sectoral approach taken to the dialogue, which had been productive and fruitful. Ms. Esseneme thanked all those who had made the dialogue possible, especially in the hybrid format. Gabon was urged to do its utmost to implement the recommendations contained in the concluding observations, to ensure ongoing collaboration with the Committee.

    PAUL-MARIE GONDJOUT, Minister of Justice, Keeper of the Seals of Gabon and head of the delegation , thanked the Committee for the constructive and respectful exchange which had taken place. The Committee’s questions had provided an opportunity to share more information about the situation in Gabon. Gabon would continue engaging with the Committee and looked forward to the concluding observations and follow-up. Gabon would respond within the timeframes indicated. Gabon would take steps to ensure the optimal implementation of the provisions enshrined within the Convention, working with all stakeholders involved in human rights.

    _______________

    CERD25.007E

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

    MIL OSI United Nations News

  • MIL-OSI USA: US Department of Labor awards $4M in funding to continue disaster-relief jobs, training for North Carolinians affected by Hurricane Helene

    Source: US Department of Labor

    WASHINGTON – The U.S. Department of Labor today awarded incremental funding of $4 million to support disaster-relief jobs and continue employment training for North Carolina residents harmed in September 2024 when Hurricane Helene brought the worst flooding in a century to the area. 

    In October 2024, the department’s Employment and Training Administration responded by awarding a National Dislocated Worker Grant of up to $10 million, with an initial award of $2 million, to assist with cleanup and recovery activities in 25 North Carolina communities affected by the storm. 

    This Disaster Recovery National Dislocated Worker Grant allows the North Carolina Department of Commerce, Division of Workforce Solutions to provide people with temporary jobs focused on cleanup and recovery efforts, as well as providing employment and training services to storm survivors. 

    Supported by the Workforce Innovation and Opportunity Act of 2014, National Dislocated Worker Grants provide a state or local board with funding for direct services and assistance in areas experiencing a major economic dislocation event that leads to workforce needs exceeding available resources. 

    MIL OSI USA News

  • MIL-OSI USA: California’s population increases — again

    Source: US State of California 2

    May 1, 2025

    What you need to know: For the second year in a row, California’s Department of Finance released data showing the Golden State’s population grew. In 2024, the state added more than 100,000 residents.

    SACRAMENTO — Today, Governor Gavin Newsom announced that California’s population grew by 108,000 people in calendar year 2024, reaching 39,529,000 people as of January 1st, 2025 — according to new data from the California Department of Finance.

    “People from across the nation and the globe are coming to the Golden State to pursue the California Dream, where rights are protected and people are respected. As the fourth largest economy in the world — from the Inland Empire to the Bay Area — regions throughout California are growing, strengthening local communities and boosting our state’s future. We’ll continue to cut tape, invest in people, and seek real results from government to ensure we build on this momentum – all of which are at risk with the extreme and uncertain tariffs.”

    Governor Gavin Newsom

    This increase marks the second consecutive calendar year of population growth. Additionally, this report reflects an upward revision of California’s January 2024 population, which saw a growth of 192,219 people (year over year) — up from the previously estimated increase of 67,104 people. And an upward revision of California’s January 2023 population, which saw a growth of 48,764 people (year over year) — up from the previously estimated decrease of 53,727 people.

    Factors for growth

    • Higher 2024 K-8 enrollment by 13,890 compared to 2023.

    • An increase in the 65-and-older population of 25,298 people in 2024, up from 6,622,031 people reported last year.

    • Natural increase — the net result of births minus deaths — contributed 114,805 to overall population growth in 2024, largely in line with the growth of 105,550 in 2023.

    • More data sources to better estimate California’s share of recent increases in legal immigration to the U.S. from 2021 to 2024, showing 277,468 more immigrants to the state during this period than in the 2023 estimate. This data only includes legal immigration.

    A look at city and county data

    The report contains preliminary year-over-year January 2025 and revised January 2021 through January 2024 population data for California cities, counties, and the state. It’s important to note that these estimates are based on information as of January 1, 2025, and therefore do not include data for the Los Angeles County wildfires later that month.

    • California’s 58 counties range in size from Alpine County, with just over 1,170 residents, to Los Angeles County with 9.9 million residents. The population increased in 35 counties, with most growth in the Central Valley, the Inland Empire, and coastal counties. Population gains reflect natural increase exceeding losses in net total migration.

    • The state’s ten largest counties remain Los Angeles, San Diego, Orange, Riverside, San Bernardino, Santa Clara, Alameda, Sacramento, Contra Costa, and Fresno, with each having more than one million residents. These ten counties represent 72 percent of California’s population. 

    • Nine of the ten counties with one million or more people have positive population growth, leaving Contra Costa as the only county with a very small population loss of 24 people. Los Angeles led with an increase of 28,000 persons. 

    • Population growth rates ranged from a high of 2.88 percent in Lassen County to a low of -1.58 percent in Mono County. The next five largest in percentage growth were Glenn (1.35 percent), Fresno (0.87 percent), Sutter (0.83 percent), Imperial (0.81 percent), and Tulare (0.73 percent).

    Recent Census Bureau revisions

    In addition to the report released by the Department of Finance, the U.S. Census Bureau (which measures on a fiscal calendar year versus DOF’s calendar year) released updated information showing California’s population increasing as well  — with several key revisions upwards:

    • July 1, 2023 to June 30, 2024, California’s population increased by more than 225,000 people.

    • July 1, 2022 to June 30, 2023: California’s population increased by more than 50,000 people. NOTE: This was revised up from the originally reported 75,000+ decrease.

    • July 1, 2021 to June 30, 2022: California’s population decreased by just 151 people. NOTE: This was revised up from the originally reported 100,000+ decrease.

    Busting myths

    Despite the common myth of a continually declining population, California has only saw a short period of population loss in its 174 year history — during the peak of the COVID pandemic, when it decreased by 379,544 people (which represents about 1% decrease over those two years), according to the U.S. Census Bureau.

    During the same period, from July 1, 2021 to June 30, 2022, 10 states saw larger population decreases, with Louisiana — led by a Republican Governor and legislature — seeing the largest percent decrease. And 13 states also saw population decreases from July 1, 2020 to June 30, 2021.

    California leads the way

    Building on the second year of population growth, California leads the way in tourism spending, and was just announced as the fourth largest economy, moving up from fifth, in the world by the International Monetary Fund. California is also home to the most Fortune 500 companies and most Inc. 5000 companies. And, California leads the way nationally as the #1 state for new business starts, access to venture capital funding, manufacturing, high-tech, and agriculture.

    Recent news

    News What you need to know: House Republicans used an illegal tactic to attempt to overrule California’s clean cars and trucks program that has decreased smog and protected Californians’ health. SACRAMENTO — Governor Gavin Newsom issued the following statement today…

    News Sacramento, California – Governor Gavin Newsom today issued a proclamation declaring April 30, 2025, as “Apprenticeship Day.”The text of the proclamation and a copy can be found below. PROCLAMATIONNational Apprenticeship Day is a nationwide celebration…

    News What you need to know: The state of California is providing LA City and County a new AI-powered e-check software free of charge to speed the pace at which local governments are approving building permits. LOS ANGELES – Leveraging the power of private sector…

    MIL OSI USA News

  • MIL-OSI USA: Jordanian National Sentenced to Six Years for Threatening to Use Explosives and Attacking an Energy Facility

    Source: US State of California

    Hashem Younis Hashem Hnaihen, 44, a Jordanian national residing illegally in Orlando, was sentenced today to six years in federal prison for threatening to use explosives and destruction of an energy facility. A restitution hearing will be held at a future date to address the more than $450,000 in damages Hnaihen caused.

    “Threatening to commit mass violence against American citizens and targeting businesses or institutions for destruction will not be tolerated,” said U.S. Attorney Gregory W. Kehoe for the Middle District of Florida. “Today’s sentence demonstrates the collective fortitude of our law enforcement partners to vigorously investigate and prosecute those who engage in acts of intimidation or violence against our communities.”

    “This case highlights the strength of our partnerships and the tenacity of our investigators who are determined to protect the American people from those threatening the safety and security of our communities,” said Special Agent in Charge Matthew Fodor the FBI Tampa Field Office. 

    Restaurant damaged in attack with notes taped to the window.

    According to court documents, beginning around June 2024, Hnaihen targeted and attacked businesses in the Orlando area for their perceived support for Israel. Wearing a mask, under the cover of night, Hnaihen smashed the glass front doors of businesses and left behind “Warning Letters.” In his letters, which were addressed to the President of the United States and the United States government, Hnaihen laid out a series of political demands, culminating in a threat to “destroy or explode everything here in whole America. Especially the companies and factories that support the racist state of Israel.” 

    Solar panels with cracked glass.

    Hnaihen’s attacks escalated. At the end of June, as law enforcement worked to identify the masked attacker, Hnaihen broke into a solar power generation facility in Wedgefield, Florida, and spent hours systematically destroying solar panel arrays. He smashed panels, cut wires, and targeted critical electronic equipment. Hnaihen left behind two more copies of his threatening demand letter. Hnaihen’s attacks caused more than $450,000 in damage.

    Following a multiagency effort, law enforcement identified Hnaihen and arrested him on July 11, 2024, shortly after another “Warning Letter” threatening to “destroy or explode everything” was discovered at an industrial propane gas distribution depot in Orlando.

    The FBI and the Orange County Sheriff’s Office investigated the case, with valuable assistance from the Maitland Police Department, the Winter Park Police Department, the Orlando Police Department, the Florida Department of Law Enforcement, and U.S. Immigration and Customs Enforcement.

    Assistant U.S. Attorney Richard Varadan for the Middle District of Florida and Trial Attorneys Ryan White and George Kraehe of the National Security Division’s Counterterrorism Section prosecuted the case.

    MIL OSI USA News

  • MIL-OSI USA: Justice Department Files Complaints Against Hawaii, Michigan, New York and Vermont Over Unconstitutional State Climate Actions

    Source: US State of Vermont

    WASHINGTON — The Justice Department today filed complaints against the states of New York and Vermont over their “climate superfund laws.” In separate actions, the Justice Department yesterday filed lawsuits against the states of Hawaii and Michigan to prevent each state from suing fossil fuel companies in state court to seek damages for alleged climate change harms.

    President Trump recently directed Attorney General Pamela Bondi to take action to stop the enforcement of state laws that unreasonably burden domestic energy development so that energy will once again be reliable and affordable for all Americans. These lawsuits advance President Trump’s directive in Executive Order 14260, Protecting American Energy from State Overreach.

    “These burdensome and ideologically motivated laws and lawsuits threaten American energy independence and our country’s economic and national security,” said Attorney General Pamela Bondi. “The Department of Justice is working to ‘Unleash American Energy’ by stopping these illegitimate impediments to the production of affordable, reliable energy that Americans deserve.”

    “When states seek to regulate energy beyond their constitutional or statutory authority, they harm the country’s ability to produce energy and they aid our adversaries,” said Acting Assistant Attorney General Adam Gustafson of the Justice Department’s Environment and Natural Resources Division. “The Department’s filings seek to protect Americans from unlawful state overreach that would threaten energy independence critical to the wellbeing and security of all Americans.”

    According to the complaints filed yesterday in the U.S. District Courts for the District of Hawaii and the Western District of Michigan, Hawaii and Michigan intend to sue fossil fuel companies to seek damages for alleged climate change harms.  The government alleges that these anticipated actions are preempted by the Clean Air Act and violate the Constitution. Such lawsuits burden energy production, force the American people to pay more for energy, and make the United States less able to defend itself from hostile foreign actors.

    Complaints filed today in U.S. District Courts for the Southern District of New York and for the District of Vermont challenge expropriative laws passed by New York and Vermont. These “climate superfund” laws would impose strict liability on energy companies for their worldwide activities extracting or refining fossil fuels. The laws assess penalties for those businesses’ purported contributions to harms that those states allegedly are experiencing from climate change. The New York law seeks $75 billion from energy companies, while the Vermont law seeks an unspecified amount.

    Today’s complaints allege that the New York Climate Change Superfund Act and the Vermont Climate Superfund Act are preempted by the federal Clean Air Act and by the federal foreign affairs power, and that they violate the U.S. Constitution. The Justice Department seeks a declaration that these state laws are unconstitutional and an injunction against their enforcement.

    Complaints:

    MIL OSI USA News

  • MIL-OSI Security: Justice Department Files Complaints Against Hawaii, Michigan, New York and Vermont Over Unconstitutional State Climate Actions

    Source: United States Attorneys General 1

    WASHINGTON — The Justice Department today filed complaints against the states of New York and Vermont over their “climate superfund laws.” In separate actions, the Justice Department yesterday filed lawsuits against the states of Hawaii and Michigan to prevent each state from suing fossil fuel companies in state court to seek damages for alleged climate change harms.

    President Trump recently directed Attorney General Pamela Bondi to take action to stop the enforcement of state laws that unreasonably burden domestic energy development so that energy will once again be reliable and affordable for all Americans. These lawsuits advance President Trump’s directive in Executive Order 14260, Protecting American Energy from State Overreach.

    “These burdensome and ideologically motivated laws and lawsuits threaten American energy independence and our country’s economic and national security,” said Attorney General Pamela Bondi. “The Department of Justice is working to ‘Unleash American Energy’ by stopping these illegitimate impediments to the production of affordable, reliable energy that Americans deserve.”

    “When states seek to regulate energy beyond their constitutional or statutory authority, they harm the country’s ability to produce energy and they aid our adversaries,” said Acting Assistant Attorney General Adam Gustafson of the Justice Department’s Environment and Natural Resources Division. “The Department’s filings seek to protect Americans from unlawful state overreach that would threaten energy independence critical to the wellbeing and security of all Americans.”

    According to the complaints filed yesterday in the U.S. District Courts for the District of Hawaii and the Western District of Michigan, Hawaii and Michigan intend to sue fossil fuel companies to seek damages for alleged climate change harms.  The government alleges that these anticipated actions are preempted by the Clean Air Act and violate the Constitution. Such lawsuits burden energy production, force the American people to pay more for energy, and make the United States less able to defend itself from hostile foreign actors.

    Complaints filed today in U.S. District Courts for the Southern District of New York and for the District of Vermont challenge expropriative laws passed by New York and Vermont. These “climate superfund” laws would impose strict liability on energy companies for their worldwide activities extracting or refining fossil fuels. The laws assess penalties for those businesses’ purported contributions to harms that those states allegedly are experiencing from climate change. The New York law seeks $75 billion from energy companies, while the Vermont law seeks an unspecified amount.

    Today’s complaints allege that the New York Climate Change Superfund Act and the Vermont Climate Superfund Act are preempted by the federal Clean Air Act and by the federal foreign affairs power, and that they violate the U.S. Constitution. The Justice Department seeks a declaration that these state laws are unconstitutional and an injunction against their enforcement.

    Complaints:

    MIL Security OSI

  • MIL-OSI Economics: Steering Committee of Partenariat pour le Coton addresses priorities for cotton sector

    Source: WTO

    Headline: Steering Committee of Partenariat pour le Coton addresses priorities for cotton sector

    Participants focused on translating identified needs into actionable investment opportunities and presented findings from national and regional consultations. They also validated the terms of reference of the Partenariat, including its membership framework, geographical scope and core functions.
    In his opening remarks, WTO Deputy Director-General Jean-Marie Paugam emphasized the importance of strengthening the cotton–textile–garment value chains in the C-4+ countries through increased value addition, expanded trade opportunities and sustainable development outcomes. He noted that the objective of the meeting was threefold: to present the national and regional reports emerging from the consultations; to highlight national priorities and investment needs; and to explore the technical assistance and financing options proposed by financial institutions in response to these findings. His full remarks (in French) are here.
    Ms Kanayo Awani, Afreximbank’s Executive Vice President for Intra-African and Export Development, underscored the need to address issues relating to low yields and processing capacity, climate change, climate variability, market fluctuations, global cotton prices, and limited infrastructure and technology, which hinder productivity and efficiency. To be able to upgrade and integrate into the global cotton value chain, the C-4+ countries need these issues to be tackled, she said.
    Over the two-day gathering, the Steering Committee engaged in thematic sessions on sustainable practices in cotton production and on financing mechanisms for value chain development aligned with the outcomes of the national consultations. A high-level panel explored strategies to unlock investment for cotton industrialization and local transformation in the C-4+ region.
    The meeting concluded with forward-looking discussions on supporting C-4+ priorities, including the establishment of a dedicated C-4+ Partenariat Support Fund to facilitate participation in capacity-building activities and key international meetings. Participants also discussed preparations for the upcoming World Cotton Day, to be hosted in October 2025 by Chad in collaboration with the International Trade Centre (ITC).
    Attendees included representatives from the WTO, United Nations Industrial Development Organization (UNIDO),the  International Labour Organization (ILO), Better Cotton (BC), the African Development Bank (AfDB), FIFA, the International Atomic Energy Agency (IAEA) and the International Cotton Advisory Committee (ICAC). Also present were representatives of the International Finance Corporation (IFC), the International Trade Centre (ITC), the United Nations Office on Drugs and Crime (UNODC), and development partners such as China and the European Union, as well as representatives of the C-4+ countries.
    The next opportunity to carry forward these discussions will be the Director-General’s Consultative Framework Mechanism on Cotton meeting scheduled for 14 May in Geneva.

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    MIL OSI Economics

  • MIL-OSI Economics: Copilot research insights: 4 lessons for leaders

    Source: Microsoft

    Headline: Copilot research insights: 4 lessons for leaders

    This story is featured in the WorkLab newsletter. Sign up for it here.

    Over the past year, Microsoft researchers have been studying the effects of AI at work through a series of real-world experiments at companies that are using Copilot. The setup was simple: one group used Copilot, the other didn’t.  
     
    Across the board, people using Copilot worked faster and produced better results. But our findings also surfaced new patterns in how people work, learn, and adapt. Here are four takeaways that leaders can apply to their own AI adoption as we move into an era of intelligence on tap and increasing collaboration between humans and agents. 

    1. AI is already embedded in how we work 
    In many of our studies, members of the control group, who were not supposed to use AI, used it anyway. This is consistent with our data showing that employees who are not provided with AI at work will seek it out themselves (BYOAI). There’s no such thing as a “non-user” anymore: AI is already embedded in how people think, work, and get things done. 

    This presents an opportunity for every leader and company. Imagine you could go back to the early days of the internet, when individuals were already using it widely but companies were still figuring out how to apply it to business. What would you do differently? Frontier Firms—structured around on-demand intelligence and powered by “hybrid” teams of humans + agents—hold key lessons for how to grab this once-in-a-generation opportunity and are poised to get unprecedented value from AI. To seize the moment, start by hiring your first digital employees, setting your unique human-agent ratio, and driving broad, purposeful adoption. 

    2. Scale what works 
    To evaluate how well employees performed on complex, job-specific tasks, our researchers needed a way to assess quality—even though they weren’t experts in, say, root cause analysis. So they turned to Copilot, building an AI grader to help understand the quality of the responses they got. First, a leader at the company where the study took place validated what a high-quality version of the finished product looked like. Against that measuring stick, Copilot was able to objectively evaluate all study participants’ work and assign each a qualitative score. 

    This is a powerful AI use case for business leaders. According to our latest Work Trend Index, 55% of employees at Frontier Firms say they’re able to take on more work—partly because they use Copilot to pressure-test deliverables, benchmark quality, and surface blind spots without waiting for manager review. This can be as simple as training an agent on how you and other leaders have critiqued your team’s previous work so employees can run a first-pass review. 

    The overall takeaway: real AI transformation happens when organizations capture what works and scale it across teams. By formalizing best practices—as in the agent example above—and codifying them with AI, companies can ensure consistent quality and faster decision-making. This ability to operationalize AI learnings is what sets Frontier Firms apart from those still experimenting. 

    3. Skilling can’t be an afterthought 
    One theme that showed up across the Copilot research: the biggest performance gains actually came when study subjects received guidance on how to apply AI to specific job tasks. 

    In one study, our researchers developed optimal prompts that subjects could use. Employees provided with these prompts and tips on how best to leverage AI saw the biggest positive impact on performance. The key is making the connection between what someone needs to do and how AI can help them do it better. 
     
    To see meaningful results, leaders need to go beyond access and focus on enablement: clear guidance, real-world use cases, and training that connects AI directly to the work employees are doing. When people understand how to use AI with purpose, they’ll see better results. 

    4. Get your processes in order 
    Just as targeted guidance helps individuals, structured processes help teams get the most from AI. Across our experiments, the biggest improvements came when participants had clear goals, well-defined tasks, and access to organized resources—like structured SharePoint libraries or shared templates. In those cases, Copilot acted as a powerful amplifier. But when processes were disorganized—unclear roles, messy documents, lack of shared understanding—performance improvements were limited.  

    AI can accelerate work, but it can’t untangle dysfunction. Before layering on AI, clarify goals, align teams, and clean up the systems people rely on every day.  

    When it comes to AI transformation, we’re all learning as we go. Becoming a Frontier Firm is about experimentation, capturing what you learn, and quickly applying those lessons to scale fast—empowering everyone for a new world of work.  

    MIL OSI Economics

  • MIL-OSI Economics: Déclaration d’ouverture du Président de la réunion du Comité directeur du Partenariat pour le coton

    Source: WTO

    Headline: Opening statement by the Chair of the meeting of the Steering Committee of the Partnership for Cotton

    S.E. Professeur Oramah, Président d’Afreximbank,S.E. Mme Alimatou Shadiya ASSOUMAN, Ministre du Commerce et de l’Industrie, BéninCher Eric Trachtenberg, Directeur exécutif du Comité consultatif international du coton,Cher Gunther Berger, Directeur général, ONUDIChère Mme Kanayo Awani, Vice-présidente exécutive, Commerce intra-africain et Développement des exportations, AfreximbankExcellences, distingués collègues, partenaires et parties prenantes,Mesdames et Messieurs
    Au nom de la Directrice générale de L’Organisation mondiale du commerce, Ngozi et en mon nom personnel, je vous souhaite la bienvenue à cette réunion du Comité de pilotage du Partenariat pour le Coton.
    Je vous présente toutes mes excuses de ne pouvoir être présent physiquement avec vous au Caire comme c’était initialement prévu.
    Je reste pleinement engagé dans le travail important que nous menons ensemble dans le cadre du Partenariat, et je me réjouis à l’avance des résultats de vos échanges.
    Permettez-moi de remercier chaleureusement les autorités égyptiennes et l’Afreximbank pour leur accueil et l’organisation de cette réunion importante.
    Mes remerciements s’adressent bien sur également à nos partenaires de l’ONUDI, pour leur rôle moteur dans notre partenariat, ainsi qu’à l’ensemble de ceux qui y participent — gouvernements, organisations internationales, institutions financières,  et acteurs du secteur privé — au premier rang desquels nous reconnaissons tous les pays du C4, qui en sont les inspirateurs et portent la cause de l’économie du coton depuis près d’un quart de siècle à l’OMC.  
    Pour nos discussions des deux prochains jours, notre objectif est clair : trouver les moyens de renforcer les chaînes de valeur du secteur coton–textile–habillement dans les pays du C4 «+»: le Bénin, le Burkina Faso, le Tchad, le Mali et la Côte d’Ivoire, en créant davantage de valeur ajoutée, en élargissant les opportunités commerciales, et en assurant des résultats de développement durables.
    Concrètement, il s’agira de :
    Présenter les rapports nationaux et celui régional issus des différentes consultations dans les pays du C4+ ;
    Identifier les priorités nationales ainsi que les besoins en matière d’assistance technique et de financement des investissements ;
    Échanger sur les mesures de soutien et les options de financement proposées par les institutions financières, sur la base des rapports issus des consultations nationales.
    Cette réunion du Comité de pilotage se tient à un moment charnière, au terme d’un travail collectif considérable de mise à jour de l’état des lieux de la filière coton et des enjeux de notre Partenariat. En juin 2024, le Comité de pilotage a validé les conclusions d’une étude de référence menée par l’ONUDI, avec l’appui du Centre du Commerce International. En septembre 2024, des consultations nationales se sont tenues sur cette base dans les cinq pays du C-4+. Ces consultations ont permis d’identifier les priorités du secteur coton-textile-habillement, sur lesquelles des présentations vous seront faites dans un instant.
    L’enthousiasme autour du Partenariat, la diversité des parties prenantes et institutions représentées ici aujourd’hui, les perspectives prometteuses que laissent espérer les études nationales ainsi, la mobilisation des institutions financières, montrent une dynamique tournée vers l’action.
    C’est cette dynamique que nous voulons nourrir, avec déjà, en ligne de mire, l’échéance de la prochaine conférence ministérielle de l’OMC, au printemps 2026, qui se tiendra en terre africaine, à Yaoundé, et pourrait représenter une nouvelle étape pour notre mobilisation. 
    C’est en nous plaçant dans cette perspective optimiste que j’ouvre la réunion de notre comité de pilotage. Je forme le vœu que nos échanges au cours de ces deux journées soient porteurs de résultats concrets pour l’industrialisation et la transformation locale du coton dans les pays partenaires.
    Nous pourrons rapporter ces résultats aux membres de l’OMC lors de notre prochaine discussion sur le coton, prévue le 14 mai à l’OMC, qui abordera toutes les problématiques auxquelles fait face l’industrie cotonnière dans les pays du C4 et les autres pays en développement.
    Je vous remercie de votre attention et cède à présent la parole à Son Excellence Madame Kanayo Awani, Vice-Présidente exécutive du Commerce intra-africain et du Développement des exportations à Afreximbank.
    A très bientôt à Genève.

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    MIL OSI Economics

  • MIL-OSI USA: ARMD Research Solicitations (Updated May 1)

    Source: NASA

    THIS PAGE WAS UPDATED ON MAY 1, 2025(Added Advanced Air Vehicles Program Fellowship Opportunities.)
    This Aeronautics Research Mission Directorate (ARMD) solicitations page compiles the opportunities to collaborate with NASA’s aeronautical innovators and/or contribute to their research to enable new and improved air transportation systems.
    Most opportunities to participate in research are officially announced through the Web-based NASA Solicitation and Proposal Integrated Review and Evaluation System, better known as NSPIRES. You are encouraged to visit the NSPIRES web site, create an account, and sign up for automated email announcements.
    Other types of collaborative opportunities, such as those involving Requests for Information or academic research contests, also are included on this page.
    This page has four major sections:

    Advanced Air Vehicles Program Fellowship OpportunitiesProposals are due by June 11, 2025.
    University Leadership InitiativeStep-A proposals due by June 26, 2025.
    University Student Research ChallengeProposals for Cycle 3 are due by June 26, 2025.

    ROA-2025 NRA Amendment 1 – OPEN
    Advanced Air Vehicles Program Fellowship Opportunities
    (View the full ROA-2025 NRA Amendment 1 text here.)
    This announcement solicits proposals from accredited U.S. institutions for research training grants to begin the academic year. This Notice of Funding Opportunity is designed to support independently conceived research projects by highly qualified graduate students in disciplines needed to help advance NASA’s mission, thus affording these students the opportunity to directly contribute to advancements in STEM-related areas of study. These opportunities are focused on innovation and the generation of measurable research results that contribute to NASA’s current and future science and technology goals.
    Research proposals are sought to address the key challenges summarized in the Elements section at the end of the Amendment 1 document, and which reference NASA’s Hypersonic Technology and Transformational Tools & Technologies projects.
    Notices of Intent are not required.
    A budget breakdown for each proposal is required, detailing the allocation of the award funds by year. The budget document may adhere to any format or template provided by the applicant’s institution. Two pre-proposal teleconferences for potential proposers will be held and meeting links will be posted on NSPIRES.
    Proposals are due by 5 p.m. EDT on June 11, 2025.

    ROA-2024 NRA Amendment 2 – OPEN
    University Leadership Initiative
    (View the full ROA-2024 NRA Amendment 2 text here.)
    NASA’s University Leadership Initiative (ULI) provides the opportunity for university teams to exercise technical and organizational leadership in proposing unique technical challenges in aeronautics, defining multi-disciplinary solutions, establishing peer review mechanisms, and applying innovative teaming strategies to strengthen the research impact.
    Research proposals are sought in six ULI topic areas in Appendix D.4.
    Topic 1: Safe, Efficient Growth in Global Operations
    Topic 2: Innovation in Commercial High-Speed Aircraft
    Topic 3: Ultra-Efficient Subsonic Transports
    Topic 4: Safe, Quiet, and Affordable Vertical Lift Air Vehicles
    Topic 5: In-Time System-Wide Safety Assurance
    Topic 6: Assured Autonomy for Aviation Transformation
    This NASA Research Announcement will utilize a two-step proposal submission and evaluation process. The initial step is a short mandatory Step-A proposal, which is due June 26, 2025. Those offerors submitting the most highly rated Step-A proposals will be invited to submit a Step-B proposal. All proposals must be submitted electronically through NSPIRES at https://nspires.nasaprs.com. An Applicant’s Workshop will be held on Thursday April 30, 2025; 1:00-3:00 p.m. ET (https://uli.arc.nasa.gov/applicants-workshops/workshop9) (Page will be live closer to the event.)
    An interested partners list for this ULI is at https://uli.arc.nasa.gov/partners. To be listed as an interested lead or partner, please send an email to hq-univpartnerships@mail.nasa.gov with “ULI Partnerships” in the subject line and include the information required for the table on that web page.

    ROA-2024 NRA Amendment 4 – OPEN
    University Student Research Challenge
    (View the full ROA-2024 NRA Amendment 4 text here)
    NASA’s University Student Research Challenge (USRC) seeks to challenge students to propose new ideas/concepts that are relevant to NASA Aeronautics.  The challenge will provide students from accredited U.S. colleges or universities with grants for their projects, as well as the challenge of raising cost share funds through a crowdfunding campaign. The process of creating and implementing a crowdfunding campaign acts as a teaching accelerator — requiring students to act like entrepreneurs and raise awareness about their research among the public.
    The solicitation goal can be accomplished through project ideas such as advancing the design, developing technology or capabilities in support of aviation, by demonstrating a novel concept, or enabling advancement of aeronautics-related technologies.
    Notices of Intent are not required for this solicitation.
    Proposals for Cycle 3 are due June 26, 2025.
    Proposals can also be submitted later and evaluated in the second and third cycles.
    The USRC Q&A/Info Session and Proposal Workshop will be held on the days/times below. Please join us on TEAMS using the Meeting Link, or call in via +1 256-715-9946,,317928116#.

    USRC Cycle
    Information Session/Q&A Date
    Proposal Due Date

    Cycle 1
    Sept. 20, 2024 at 2 pm ET
    Nov. 7, 2024

    Cycle 2
    Jan. 27, 2025 at 2 pm ET
    March 13, 2025

    Cycle 3
    May 12, 2025 at 2 pm ET
    June 26, 2025

    Aeronautics Innovation Challenges – OPEN
    NASA’s nationwide team of aeronautical innovators are committed to giving students of all ages opportunities to solve some of the biggest technical challenges facing the aviation community today. Through NASA-sponsored challenges and competitions, students representing multiple disciplines will put their skills to work by designing and building solutions to real-world problems.

    Advanced Capabilities for Emergency Response Operations RFI – CLOSED
    View the full ACERO RFI announcement here.
    NASA’s Advanced Capabilities for Emergency Response Operations (ACERO) project used this request for information to identify technologies that addressed current challenges facing the wildland firefighting community. NASA was seeking information on data collection, airborne connectivity and communications solutions, unmanned aircraft systems traffic management, aircraft operations and autonomy, and more. This would support development of a partnership strategy for future collaborative demonstrations.
    Interested parties were requested to respond to this notice with an information package submitted via https://nari.arc.nasa.gov/acero-rfi no later than 4 pm ET, October 15, 2023. Submissions were accepted only from U.S. companies.

    Advanced Air Mobility Mission RFI – CLOSED
    View the full AAM RFI announcement here.
    This request for information is being used to gather market research for NASA to make informed decisions regarding potential partnership strategies and future research to enable Advanced Air Mobility (AAM). NASA is seeking information from public, private, and academic organizations to determine technical needs and community interests that may lead to future solicitations regarding AAM research and development.
    This particular RFI is just one avenue of multiple planned opportunities for formal feedback on or participation in NASA’s AAM Mission-related efforts to develop these requirements and help enable AAM. 
    The respond by date for this RFI closed on Feb. 1, 2025, at 6 p.m. EST.

    ROA-2024 NRA Amendment 1 – CLOSED
    (View the full ROA-2024 NRA Amendment 1 text here.)
    The announcement solicited proposals from accredited U.S. institutions for research training grants to begin the academic year. This Notice of Funding Opportunity was designed to support independently conceived research projects by highly qualified graduate students, in disciplines needed to help advance NASA’s mission, thus affording these students the opportunity to directly contribute to advancements in STEM-related areas of study. Advanced Air Vehicle Program fellowship opportunities are focused on innovation and the generation of measurable research results that contribute to NASA’s current and future science and technology goals.
    Research proposals were sought to address key challenges provided in Elements of Appendix A.8.
    A budget breakdown for each proposal was required, detailing the allocation of the award funds by year. The budget document could adhere to any format or template provided by the applicant’s institution.
    Proposals were due by April 30, 2024, at 5 PM ET.

    ROA-2024 NRA Amendment 3 – CLOSED
    (View the full ROA-2024 NRA Amendment 3 text here)
    NASA’s Commercial Supersonic Technology project sought proposals for a fuel injector design concept and fabrication for testing at NASA’s Glenn Research Center in Cleveland.
    The proposal for the fuel injector design aimed to establish current state-of-the-art in low NOx supersonic cruise while meeting reasonable landing take-off NOx emissions. The technology application timeline is targeted for a supersonic aircraft with entry into service in the 2035+ timeframe.
    Proposals were due by May 31, 2024 at 5 pm EDT.

    Competition for NRA awards is open to both academia and industry.
    The current open solicitations for ARMD Research Opportunities are ROA-2024 and ROA-2025.
    Here is some general information to know about the NRA process.

    NRA solicitations are released by NASA Headquarters through the Web-based NASA Solicitation and Proposal Integrated Review and Evaluation System (NSPIRES).
    All NRA technical work is defined and managed by project teams within these four programs: Advanced Air Vehicles Program, Airspace Operations and Safety Program, Integrated Aviation Systems Program, and Transformative Aeronautics Concepts Program.
    NRA awards originate from NASA’s Langley Research Center in Virginia, Ames Research Center in California, Glenn Research Center in Cleveland, and Armstrong Flight Research Center in California.
    Competition for NRA awards is full and open.
    Participation is open to all categories of organizations, including educational institutions, industry, and nonprofits.
    Any updates or amendments to an NRA is posted on the appropriate NSPIRES web pages as noted in the Amendments detailed below.
    ARMD sends notifications of NRA updates through the NSPIRES email system. In order to receive these email notifications, you must be a Registered User of NSPIRES. However, note that NASA is not responsible for inadvertently failing to provide notification of a future NRA. Parties are responsible for regularly checking the NSPIRES website for updated NRAs.

    MIL OSI USA News

  • MIL-OSI Security: Jordanian National Sentenced to Six Years for Threatening to Use Explosives and Attacking an Energy Facility

    Source: United States Attorneys General 7

    Hashem Younis Hashem Hnaihen, 44, a Jordanian national residing illegally in Orlando, was sentenced today to six years in federal prison for threatening to use explosives and destruction of an energy facility. A restitution hearing will be held at a future date to address the more than $450,000 in damages Hnaihen caused.

    “Threatening to commit mass violence against American citizens and targeting businesses or institutions for destruction will not be tolerated,” said U.S. Attorney Gregory W. Kehoe for the Middle District of Florida. “Today’s sentence demonstrates the collective fortitude of our law enforcement partners to vigorously investigate and prosecute those who engage in acts of intimidation or violence against our communities.”

    “This case highlights the strength of our partnerships and the tenacity of our investigators who are determined to protect the American people from those threatening the safety and security of our communities,” said Special Agent in Charge Matthew Fodor the FBI Tampa Field Office. 

    Restaurant damaged in attack with notes taped to the window.

    According to court documents, beginning around June 2024, Hnaihen targeted and attacked businesses in the Orlando area for their perceived support for Israel. Wearing a mask, under the cover of night, Hnaihen smashed the glass front doors of businesses and left behind “Warning Letters.” In his letters, which were addressed to the President of the United States and the United States government, Hnaihen laid out a series of political demands, culminating in a threat to “destroy or explode everything here in whole America. Especially the companies and factories that support the racist state of Israel.” 

    Solar panels with cracked glass.

    Hnaihen’s attacks escalated. At the end of June, as law enforcement worked to identify the masked attacker, Hnaihen broke into a solar power generation facility in Wedgefield, Florida, and spent hours systematically destroying solar panel arrays. He smashed panels, cut wires, and targeted critical electronic equipment. Hnaihen left behind two more copies of his threatening demand letter. Hnaihen’s attacks caused more than $450,000 in damage.

    Following a multiagency effort, law enforcement identified Hnaihen and arrested him on July 11, 2024, shortly after another “Warning Letter” threatening to “destroy or explode everything” was discovered at an industrial propane gas distribution depot in Orlando.

    The FBI and the Orange County Sheriff’s Office investigated the case, with valuable assistance from the Maitland Police Department, the Winter Park Police Department, the Orlando Police Department, the Florida Department of Law Enforcement, and U.S. Immigration and Customs Enforcement.

    Assistant U.S. Attorney Richard Varadan for the Middle District of Florida and Trial Attorneys Ryan White and George Kraehe of the National Security Division’s Counterterrorism Section prosecuted the case.

    MIL Security OSI

  • MIL-OSI Security: Ashburn financial advisor sentenced to three years in prison for defrauding investors and losing millions of dollars through risky trading

    Source: Office of United States Attorneys

    ALEXANDRIA, Va. – An Ashburn man was sentenced today to three years in prison for fraud relating to his risky trading that lost millions of dollars of his clients’ funds while he provided them with false information.

    According to court documents, Andrew Corbman, 53, was affiliated with a national estate planning company through which he obtained access to individuals interested in estate planning and setting up trust vehicles. Corbman offered financial advice to clients and potential clients, including assisting them with long-term financial planning such as trusts, annuities, and life insurance.

    Over a period of years, Corbman worked with two individuals and two couples who loaned him money believing he would invest those funds and earn outsized returns. These clients did not know that in 2016 Corbman was suspended and then permanently barred by the Financial Industry Regulatory Authority (FINRA) from acting as a financial advisor or that Corbman filed for bankruptcy in 2015. Corbman suggested the clients could improve their investment returns if they loaned him money or rolled over existing loans they had made to him. Through false claims of investing success, Corbman induced his Clients to loan him up to $4.2 million, promising to invest or continue investing the money in stock market options trading. Corbman promised to repay the loans at high rates of return, as much as a 30% annual interest rate, plus a share of his own trading profits.

    Corbman misrepresented his past trading performance to induce the clients to invest or to reinvest what he owed them when the loans came due in the form of a new loan. Corbman provided at least two of his potential clients a document he claimed showed his 2021 investment results. The document boasted “112 wins, 82% win history and a 90% average return.” In fact, Corbman’s trading history for each year from 2019 onward resulted in substantial losses. Altogether, Corbman lost over $4,000,000 of his clients’ money, and returned only $120,000 to one victim late in the scheme.

    Corbman, fully aware of the risks and the calamitous results he was producing, not only concealed the risks from his clients, but actively misled them in an attempt to stave off requests for funds and to attempt to obtain new funds. Corbman provided his victims with fabricated trading win histories.

    In late 2022 and early 2023, when Corbman’s creditors demanded repayment of their expired loans agreements, Corbman indicated to his clients that he was unable to repay the loans due to unanticipated trading losses. Corbman ultimately filed for bankruptcy, seeking to discharge over $4 million in losses he had inflicted on his clients.

    As a result of Corbman’s fraudulent scheme, at least one victim incurred substantial financial hardship, including having to mortgage a home, postpone retirement, and seek employment at an advanced age.

    In addition to his term of imprisonment, Corbman must pay $4.15 million in restitution.

    Erik S. Siebert, U.S. Attorney for the Eastern District of Virginia, and Sean Ryan, Special Agent in Charge of the FBI Washington Field Office’s Criminal and Cyber Division, made the announcement after sentencing by U.S. District Judge Michael S. Nachmanoff.

    Assistant U.S. Attorney Russell L. Carlberg prosecuted the case.

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No. 1:24-cr-255.

    MIL Security OSI

  • MIL-OSI: XRP News: XploradDEX $XP Token Explodes 1,500% in 24 Hours — Market Cap Quadruples as FOMO Grips XRP Traders

    Source: GlobeNewswire (MIL-OSI)

    ZURICH, Switzerland, May 01, 2025 (GLOBE NEWSWIRE) — XploraDEX’s native token, $XPL, has sent shockwaves across the XRP ecosystem after surging over 1,500% in just 24 hours. From a humble market cap of $70K at launch, $XPL has now ballooned to over $288K, sparking an aggressive wave of buying activity and cementing its place as one of the most explosive DeFi launches on the XRP Ledger to date.

    Buy $XPL on MagneticX Exchange

    Massive Momentum: 24-Hour Snapshot

    • 24H Price Change: +1,500%
    • 24H Low: 0.00000411 XRP
    • 24H High: 0.000172 XRP
    • Market Cap: $288,000 (from a $70K launch)
    • 24H Volume: 8,100 XRP
    • Listed on 132 exchanges

    XPL’s jaw-dropping performance has ignited widespread FOMO among XRP traders and DeFi enthusiasts. Since going live on MagneticXc, the token has seen relentless upward price pressure, with new buyers flooding in as it enters its first wave of price discovery.

    Purchase $XPL on MagneticX

    Why This Rally Is Different

    This isn’t a typical meme pump or hype play. $XPL is the gateway to XploraDEX, the first AI-powered decentralized exchange on XRPL. Unlike many tokens that launch with vague promises, XploraDEX is already delivering real utility, including:

    • AI-integrated trading dashboards
    • Smart order execution and automation tools
    • Staking and yield opportunities
    • Governance and protocol voting
    • Launchpad access for future XRPL projects

    The token’s early success is being driven by real utility, cutting-edge technology, and a strong community of early believers who understand the long-term upside of AI-enabled DeFi on one of the world’s fastest blockchains.

    Buy $XPL Token on MagneticX DEX

    The Community Is On Fire

    Telegram is buzzing. Trading pairs on MagneticXc are heating up. And wallets are connecting in record numbers. With 132 exchanges already listing $XPL and 24-hour volume exceeding 8K XRP, the market is clearly responding.

    Early adopters have already seen 15x gains. But with a modest $288K market cap, analysts believe $XPL may just be getting started. As XploraDEX rolls out its staking pools and governance portal in the coming days, more buying pressure could follow.

    Purchase $XPL on MagneticX

    The FOMO is real—and rising.

    If you missed the presale, this is your chance to enter before the next wave pushes the price even higher. The market cap is still under $300K, leaving massive upside potential as more users discover the utility behind $XPL.

    Buy $XPL on MagneticX: https://xmagnetic.org/swap/XPL+rGdwJSadiYfRZcq51A1CKzLmQ4yuBVcYgy_XRP+XRP?network=mainnet

    Stay connected and Join the XploraDEX AI Revolution

    Website | Buy $XPL on DEX | X | Telegram

    Contact:
    Oliver Muller
    oliver@xploradex.io
    contact@xploradex.io

    Disclaimer: This press release is provided by the XploraDEX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.

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    The MIL Network

  • MIL-OSI United Kingdom: Council and Sport Scotland meet Skye Community Reps

    Source: Scotland – Highland Council

    Back L to R – Rory Flyn, South Skye Community Campus; Forbes Dunlop, CEO Sport Scotland; Graham Lyndsay, Sport Scotland; Norma Morrison, South Skye Community Campus; Derek Brown, CEX of The Highland Council. Front L to R – Shirley Grant, South Skye Community Campus, Steve Walsh CEX of HLH; Cllr John Finlayson

    Councillor John Finlayson was delighted to welcome Forbes Dunlop, the CEO of Sport Scotland to Skye this week to meet with community groups in Broadford and Dunvegan who are looking to develop sports pitches close to the sites of the new schools that are planned within their communities. Graham Lyndsay from Sport Scotland, Steve Walsh CEX of HLH and Derek Brown the CEX of The Highland Council also accompanied Forbes on his trip.

    Cllr Finlayson said he was delighted to welcome all the visitors to meet with key stakeholders in both communities and he felt it was important for Forbes and others to hear about the aspirations they have and the good work that has already taken place. He also added that Forbes was keen to see where the recent award from Sport Scotland of £150k to the South Skye Community Campus group was going to be spent in Broadford and hear from Dunvegan Community Trust about their ambitions for a sports pitch close to the new school that the Highland Council is building as part of the Highland Investment Plan.

    He thanked school staff and community members for meeting with the visitors and for the partnership work they continue to develop with the council and other agencies to provide facilities in rural areas like Skye which support health and wellbeing for people of all ages.

    L to R – Highland Council CEX Derek Brown; Mali Maclennan Dunvegan Community Trust; Forbes Dunlop, CEO Sport Scotland; Calum Campbell; Graham Lyndsay, Sport Scotland; Cllr John Finlayson; John Laing, Dunvegan Community Council

    1 May 2025

    MIL OSI United Kingdom

  • MIL-OSI Asia-Pac: India Post Payments Bank Reiterates its Commitment to the Labour Force of India, this Labour Day

    Source: Government of India

    Posted On: 01 MAY 2025 8:22PM by PIB Delhi

    • IPPB introduced Antyodaya Shramik Suraksha Yojana in 2023, an affordable insurance scheme aimed at providing comprehensive coverage and protection to the unorganized sector workers.

    On the occasion of Labour Day, India Post Payments Bank reiterates its commitment to the welfare of Shramiks or labourers. IPPB launched the Antyodaya Shramik Suraksha Yojana (ASSY) for unorganised sector workers, a visionary and affordable insurance scheme aimed at providing comprehensive coverage and protection to the unorganized sector workers. The scheme was launched by the Hon’ble Chief Minister of Gujarat on 8th July 2023 at Kheda, Gujarat.

    Since the inception of ASSY, a total of 6,97,531 policies have been issued to labourers or Shramiks. A total of 355 claims have been settled and claim amount of Rs. 5,41,17,754 has been disbursed. The scheme is being offered through IPPB & issued by its six insurance partners including New India Assurance, Bajaj Allianz general Insurance, TATA AIG General Insurance, Niva Bupa Health Insurance, Aditya Birla Health Insurance and Start Health.

    Sharing his thoughts on Labour Day, Mr. R. Viswesvaran, MD & CEO, India Post Payments Bank said “We are committed to the welfare and upliftment of labourers. For this reason, we had implemented the Antyodaya Shramik Suranksha Yojana for the labourers which has helped lakhs of Shramiks improve their quality of life and well-being”.

    With such initiatives IPPB strives to bring life changing experience and access to digital banking at the doorstep of every household of India. IPPB has been set up with the vision to build the most accessible, affordable and trusted bank for the common man in India. The fundamental mandate of India Post Payments Bank is to remove barriers for the unbanked & underbanked and reach the last mile leveraging the Postal network comprising ~1,65,000 Post Offices (~140,000 in rural areas) and ~3,00,000 Postal employees.

    About India Post Payments Bank

    India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communication with 100% equity owned by Government of India. IPPB was launched on September 1, 2018. The bank has been set up with the vision to build the most accessible, affordable and trusted bank for the common man in India. The fundamental mandate of India Post Payments Bank is to remove barriers for the unbanked & underbanked and reach the last mile leveraging the Postal network comprising ~1,65,000 Post Offices (~140,000 in rural areas) and ~3,00,000 Postal employees.

    IPPB’s reach and its operating model is built on the key pillars of India Stack – enabling Paperless, Cashless and Presence-less banking in a simple and secure manner at the customers’ doorstep, through a CBS-integrated smartphone and biometric device. Leveraging frugal innovation and with a high focus on ease of banking for the masses, IPPB delivers simple and affordable banking solutions through intuitive interfaces available in 13 languages to 11 Crore customers across 5.57 lakh villages & towns in India.

    IPPB is committed to provide a fillip to a less cash economy and contribute to the vision of Digital India. India will prosper when every citizen will have equal opportunity to become financially secure and empowered. Our motto stands true – Every customer is important, every transaction is significant and every deposit is valuable.

     Reach us at:  www.ippbonline.com  marketing@ippbonline.in

    Social Media Handles:

    Twitter – https://twitter.com/IPPBOnline

    Instagram – https://www.instagram.com/ippbonline

    LinkedIn – https://www.linkedin.com/company/indiapostpaymentsbank

    Facebook – https://www.facebook.com/ippbonline

    YouTube- https://www.youtube.com/@IndiaPostPaymentsBank

    ***

    Samrat/Allen

    (Release ID: 2125918) Visitor Counter : 79

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Day-long Seminar on National Road Safety Policy 2025 organised in New Delhi

    Source: Government of India

    Posted On: 01 MAY 2025 8:12PM by PIB Delhi

    To enhance road safety, enable proactive measures and bring behavioural change among road users, a day-long ‘National Brainstorming Seminar on Road Safety Policy 2025’ was organised by the Ministry of Road Transport and Highways (MoRTH) and National Highways Authority of India (NHAI) in New Delhi.

    The day-long deliberations and insightful panel discussions were held with various stakeholders to suggest, highlight and reconcile measures pertaining to various aspects of road safety that can be implemented in the National Road Safety Policy to save precious lives.

    The seminar focused on eight thematic areas, which will provide action plan for road safety. Panel discussions with stakeholders and industry experts were held on various topics which included Accident Spot Rectification and Proactive Hazard Mitigation, Improving Effectiveness of District Road Safety Committees, School Zone Road Safety, Behavioural Change and Effective Communication, Evidence Driven Enforcement, Implementation of Driver Training, Licensing and Policies, Strengthening Vehicular Safety Standards, Post Crash Response, Highway Rescue and Cashless Treatment.  

    Shri Nitin Gadkari, Hon’ble Minister for Road Transport and Highways; Minister of State for Road Transport and Highways, Shri Ajay Tamta; Senior officials from Ministry, NHAI, Secretary PWD, Secretary Transport, ADG (Traffic) of States, Education Ministry from Government of India, World Bank, WHO, UNICEF, SaveLIFE Foundation, Road Safety Experts, DPR Consultants, Consultants, Contractors, Research institutions and NGOs were present on the occasion. 

    Participating in the discussions Union Minister Shri Nitin Gadkari shared his valuable insights to enable thought provoking and impactful deliberations on different topics. He emphasised the need to intervene at the DPR stage of road building itself, whether it is broad engineering issues or school zones. Imploring the audience to find solutions grounded in data and evidence, he highlighted how small and low-cost interventions can play a significant role in saving lives.

    Shri Ajay Tamta, Hon’ble Minister of State for Road Transport and Highways encouraged all stakeholders to actively participate and make roads safer for every commuter and road user.

    Setting the context of the seminar, Shri V Umashankar, Secretary, MoRTH said, “Road safety is a cause that touches every citizen. This brainstorming session is an important step toward shaping the National Road Safety Policy 2025. Our goal is to have concrete, evidence-based, and implementable recommendations across all aspects of road safety. We have a clear objective to drastically reduce fatalities by 2030. With the collective participation from all stakeholders, we can make India a global model for road safety. This daylong seminar is a platform for collaborative action, and I am sure this will lead to building a safer, smarter road ecosystem across the country.”

    Addressing the audience, Shri Vishal Chauhan, Member (Administration), NHAI emphasised that Road safety needs to be addressed on a larger scale in a very holistic manner. Today’s seminar brings together all key stakeholders on a single platform for a focused, action-driven dialogue.  

    In pursuance of the Government of India’s mission of reducing road accident casualties by 50% by the end of 2030, the day-long brainstorming seminar not only addressed the vital issues in ensuring road safety for all, but also helped in outlining key aspects that will help in shaping the policy for safety of road users across the country.

    ***

    GDH/HR

    (Release ID: 2125908) Visitor Counter : 56

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Rakesh Verma takes charge as Director General, IIIDEM; Ashish Goyal takes charge as Director General, Media

    Source: Government of India

    Posted On: 01 MAY 2025 7:47PM by PIB Delhi

    Shri. Rakesh Verma, assumes charge as Director General, India International Institute of Democracy and Election Management (IIIDEM), New Delhi here today.  Shri Verma is a 1993 batch IAS Officer from Punjab Cadre. He holds a degree in Computer Science and Engineering from IIT Delhi. 

    2. Prior to this, he was serving as Additional Secretary, Department of Water Resources, River Development and Ganga Rejuvenation, Ministry of Jal Shakti. Earlier he also served as Additional Secretary and Joint Secretary in the Ministry of Tourism.

    3. Shri. Ashish Goyal, assumed charge as Director General, Media in the Election Commission of India (ECI) today. Shri Goyal is a 1996 batch IIS officer. He holds a Masters in Business Administration from Panjab University and a Bachelor’s degree in Engineering from Punjab Engineering College, Chandigarh.

    4. Prior to this, he was serving as the Director General of National Museum, Ministry of Culture with additional charge of Director, Salar Jung Museum.

    ******

    PK/GDH/RP

    (Release ID: 2125891) Visitor Counter : 44

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: The Business of Influence: A Symphony of Stories, Passion, and Purpose at WAVES 2025

    Source: Government of India

    The Business of Influence: A Symphony of Stories, Passion, and Purpose at WAVES 2025

    WAVES 2025 celebrates creators shaping culture, community, and conversation through stories that matter

    Posted On: 01 MAY 2025 7:21PM by PIB Mumbai

    Mumbai, 1 May 2025

     

    In a world awash with content, where voices rise above algorithms and passion trumps performance, the breakout session “The Business of Influence: Creators Shaping Global Culture” at WAVES 2025 unfolded like a vibrant tapestry threaded with authenticity, curiosity, and community. Moderated by Gautam Anand, Vice President, YouTube APAC, the session brought together four extraordinary creators whose journeys, rooted in passion and purpose, have quietly transformed corners of the digital world.

    Gautam Anand began by echoing Prime Minister Narendra Modi’s vision from the inaugural ceremony of a billion voices rising from India. He called creators the very heart of YouTube, beating with diversity and depth, capable of shaping narratives that ripple across borders.

    The session opened with a moment that stunned the audience, Japanese creator Mayo Murasaki, of the popular channel Mayo Japan, began speaking fluently

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: WAVES 2025 witnesses exchange of ideas on the future of Indian Media & Entertainment Industry

    Source: Government of India

    WAVES 2025 witnesses exchange of ideas on the future of Indian Media & Entertainment Industry

    Indian M&E @100: Reimagining the Future of Media and Entertainment at WAVES 2025

    Posted On: 01 MAY 2025 7:15PM by PIB Mumbai

    Mumbai, 1 May 2025

     

    The inaugural day of WAVES 2025 at the Jio World Convention Centre, Mumbai, featured a compelling panel discussion titled “Indian M&E @100: Reimagining the Future of Media and Entertainment.” The session brought together leading voices from the industry to reflect on its growth and the road ahead as India moves towards 2047. The discussion was moderated by Vanita Kohli Khandekar, Contributing Editor, Business Standard.

    Opening the session, Vanita Kohli Khandekar recalled how the media and entertainment sector, valued at just ₹500 crore around the year 2000, has now grown into a ₹70,000 crore industry. She pointed to two policy decisions that played a critical role in fuelling this growth—the granting of industry status to filmmaking and the initial tax exemptions granted to multiplexes. She also posed an important question on the ability of AI not just to improve content quality, but also to aid in its monetisation. Emphasizing the country’s cultural and linguistic diversity, she underlined that scaling must be inclusive and sensitive to India’s varied audience.

    Vinit Karnik, Managing Director, GroupM, noted that 60% of the advertising revenue in the M&E sector today comes from digital platforms. He observed that the sector has undergone significant disruptions over the last few years, which have fundamentally reshaped how content is consumed and marketed. While acknowledging AI as a strong enabler, he emphasised that content must remain humanised—especially at a time when culture itself is being shaped by mobile technology. He highlighted the need to use technology constructively to enhance storytelling and informed the audience about Mumbai University’s new course on prompt engineering aimed at equipping future professionals.

    Rajan Navani, Founder and CEO of JetSynthesys, focused on the future of content delivery, which he believes will evolve into cross-platform interactive experiences. He stated that India holds just 2–3% of the global M&E market, and to further increase this share by 2047, it is imperative to invest in talent and enhance the country’s investment capacity. He noted that entertainment is becoming increasingly dynamic and will require different technologies for different formats. Addressing Vanita’s concerns on monetization, he pointed out the relatively low disposable income in India compared to developed markets, but expressed optimism that sustained economic growth will boost consumer spending. He cited the example of the Global e-Cricket Premier League, where audiences are already engaging in individualized consumption and payments.

    Vikram Tanna, CEO of Eros Now, called for India to aspire to become a global hub for AI innovation in media. He argued that AI would transform both the creation and delivery of content, enabling new ways for users to become creators. According to him, the digital age will present numerous inflection points, and strategic interventions are required to ensure that India remains competitive. He emphasized that simplifying new technologies—making them as accessible as the internet—will naturally expand the business. He concluded the session by noting that, in this evolving environment, it is crucial for the industry to understand how to engage with machines and harness the vast content landscape for advertising and audience engagement.

    The session offered a forward-looking view of India’s M&E sector, underscoring the interplay of policy, technology, talent, and cultural relevance in shaping its future. WAVES 2025 continues at Jio World Centre till May 4, with sessions highlighting global trends in audio-visual and entertainment industries.

     

    * * *

    PIB TEAM WAVES 2025 | Rajith/ Santosh V/Lekshmipriya/ Darshana | 129

    Follow us on social media: @PIBMumbai    /PIBMumbai     /pibmumbai   pibmumbai[at]gmail[dot]com  /PIBMumbai     /pibmumbai

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Union Minister of State for Finance Shri Pankaj Chaudhary presides over the 69th Foundation Day of Directorate of Enforcement (ED), in New Delhi, today

    Source: Government of India

    Union Minister of State for Finance Shri Pankaj Chaudhary presides over the 69th  Foundation Day of Directorate of Enforcement (ED), in New Delhi, today

    Contribution of Directorate of Enforcement will be extremely important in an economically secure India: MoS Finance Shri Pankaj Chaudhary

    Between 2014 to 2024, 5,113 new PMLA investigations initiated: ED Director Shri Rahul Navin

    ASG Shri S.V. Raju urges ED officers to stay abreast of changing ML scenarios and elaborated on using the various tools available under PMLA

    Shri Chaudhary also releases the ED Annual Report for FY 2024-25

    ED also confers 23 awards under various categories to its officers and Zonal Units

    Posted On: 01 MAY 2025 6:28PM by PIB Delhi

    Union Minister of State for Finance Shri Pankaj Chaudhary presided over the 69th Foundation Day of Directorate of Enforcement (ED) in New Delhi, today.

    Also present on the dais were Shri S.V. Raju, Additional Solicitor General; Shri Rahul Navin, Director, ED; Shri Subhash Aggarwal and Shri Prashant Kumar, Special Directors, ED; and Shri Naval Kishore Ram, Joint Secretary, Department of Revenue, Ministry of Finance.

    The 69th Foundation Day celebrations were also attended by ex-Directors of ED; heads of various investigative agencies; international delegates from various organisations; all India officers of JD and above level; senior officials of Government of India; and also from Department of Revenue, Ministry of Finance.

    In his address on the occasion, Shri Chaudhary said, “The vision of our Prime Minister Shri Narendra Modi is that no economic offender should be able to deprive the common and poor citizens of their rights, and prevention is essential for this as well as ensuring that the offender receives appropriate punishment. The role of the Enforcement Directorate is extremely important in both areas.”

    Shri Chaudhary also stated that as India is marching towards achieving the vision of Viksit Bharat 2047, the nature of the economy and economic activities will also change, and complexities will also increase, which might result in evolution of the nature of economic crimes. The Minister emphasised on the critical role the Enforcement Directorate will play in the future.

    “The vision of a developed India inherently includes the vision of a secure India. The contribution of the Enforcement Directorate will be extremely important in an economically secure India,” the Minister added.

    In his address on the occasion, Shri Navin emphasised on the significant step-up in enforcement activity from 2014 to 2024, with 5,113 new PMLA investigations were initiated averaging more than 500 cases per year. Building on this momentum, Shri Navin noted that in the Financial Year 2024-25, 775 new PMLA investigations were launched, 333 Prosecution Complaints were filed, leading to 34 individual convictions.

    During this period, Shri Navin said that ED has issued 461 provisional attachment orders valued at Rs. 30,036 crore – a 44% increase in the number of attachments and a striking 141% rise in their total value compared to the previous year. As on 31st March, 2025, the total value of assets under provisional attachment stood at Rs. 1,54,594 crore.

    Shri Navin also apprised the gathering that with the approval of the courts, restitution of Rs. 15,261 crore was done in 30 cases during F.Y. 2024-25 and this process is likely to accelerate in FY2025-26. 

    “The ED has filed 333 prosecution complaints last year, taking the total cases under various stage of trial to 1,739 as on 31st March, 2025; and of the 47 cases decided so far, there have been only 3 acquittals, yielding a commendable conviction rate of 93.6%,” Shri Navin added.

    In his address on the occasion, Shri S.V. Raju highlighted the growing use of cryptocurrency and hawala traders as tools for Money Laundering (ML) and urged the ED officers to stay abreast of the changing ML scenarios and elaborated on the tools under PMLA.

    On the occasion, Shri Chaudhary also released the Annual Report for FY 2024-25.

    CLICK HERE TO ACCESS ED ANNUAL REPORT FOR FY 2024-25

    During the celebrations, the officers of the ED were also conferred various awards under the following categories:

    1. President’s Medal for Meritorious Service: Shri Abhishek Goyal, former Special Director, ED, was handed over the President’s Medal for Meritorious Service on the occasion of Independence Day, 2024 for his exemplary investigation work.
    2. CATEGORY I: Rendering dutiful and exemplary service over a long period of time:

     

    1. Shri Sujit Sadhak, Joint Director, Chennai Zonal Office-II
    2. Shri Suram Chandra, Sepoy, Jammu Sub-Zonal Office

     

    1. CATEGORY II: Displaying exceptional intelligence gathering/investigation skills leading to successful search/seizure and post action:

     

    1. Shri Manoj Mittal, Deputy Director (INT-I), Headquarters Office
    2. Shri Sudhir Kumar, Deputy Director, Gurugram Zonal Office
    3. Shri Chetan Krishna H.G., Deputy Director, Gurugram Zonal Office
    4. Shri Deovrat Jha, Deputy Director, Kolkata Zonal Office-II
    5. Shri Gaurav Saini, Assistant Legal Advisor, Headquarters Office
    6. Shri Ravindra Dahiya, Assistant Director, Kolkata Zonal Office-I
    7. Shri Gaurav Dabas, Assistant Director, Co-ordination/ FATF
    8. Shri Anshul Roy, Assistant Director, Jaipur Zonal Office
    9. Shri Bhupesh, Assistant Director, Patna Zonal Office
    10. Ms. Suman, Assistant Director, Chandigarh Zonal Office-I
    11. Shri Bhola Ram Jaat, Enforcement Officer, Ahmedabad Zonal Office
    12. Ms. Deepika, Enforcement Officer, Western Regional Office
    13. Shri Ganpati K., Enforcement Officer, Southern Regional Office
    14. Shri Sagar Chauhan, Assistant Enforcement Officer, Chennai Zone-II
    15. Shri Vinod Kumar Pandey, Sr. Sepoy, Allahabad Sub-Zonal Office
    16. Shri Sunil Kumar S.K., Sr. Sepoy, STF, Headquarters Office
    17. Shri Abhishek Kumar Jha, Sepoy, Headquarters office

     

    1. CATEGORY III: Exhibiting extraordinary valour and courage without paying heed to their safety and security in the line of their duty:

     

    1. Jalandhar Zonal Office: Under the supervision of Shri Ravi Tiwari, Additional Director, the highest number of convictions have been secured by Jalandhar Zonal Office during the Financial year 2024-25.
    2. Hyderabad Zonal Office: Under the supervision of Shri Rohit Anand, Joint Director, the highest number of Prosecution Complaints were filed by Hyderabad Zonal Office during the Financial year 2024-25.
    3. Gurugram Zonal Office: Under the supervision of Shri Navaneet Agrawal, Joint Director, the highest value of properties were provisionally attached by Gurugram Zonal Office during the Financial year 2024-25.

    ****

    NB/KMN

    (Release ID: 2125863) Visitor Counter : 19

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: CCI approves the proposed combination involving (i) acquisition of 40% shareholding of HCCH by Jubilant Beverages Limited (JBL) and (ii) proposed subscription to CCPS in JBL by Jubilant BevCo Limited and the Investors

    Source: Government of India

    Posted On: 01 MAY 2025 6:27PM by PIB Delhi

    The Competition Commission of India has approved the proposed combination involving (i) acquisition of 40% shareholding of HCCH by Jubilant Beverages Limited (JBL) and (ii) proposed subscription to CCPS in JBL by Jubilant BevCo Limited and the Investors.

    Jubilant Beverages Limited (JBL) and Jubilant BevCo Limited (BevCo) are newly incorporated entities that have recently commenced the business of trading of ready to cook-eat food items on purchase order basis. JBL and BevCo belong to the Jubilant Bhartia Group. The Jubilant Bhartia Group is present in diverse sectors in India such as pharmaceuticals, contract research and development services, proprietary novel drugs, life science ingredients, agri products etc.

    WSSS Investments Aggregator 1 Pte. Ltd. (Investor 1) and WSSS Investments Aggregator 2 Pte. Ltd. (Investor 2) are collectively referred to as ‘Investors’. The Investors are companies incorporated in Singapore and are owned by funds managed by Goldman Sachs Asset Management, L.P. (GSAM), an investment manager. GSAM is indirectly wholly owned by Goldman Sachs Group, Inc (USA) (GS). GS, a Delaware corporation, is a global investment banking, securities and investment management firm that provides a range of banking, securities and investment services worldwide. GS together with its group entities comprise the GS Group (JBL, BevCo and the Investors are collectively referred to as the ‘Acquirers’).

    Hindustan Coca-Cola Holdings Private Limited (HCCH/ Target) is a holding company having no independent activities in India and belongs to The Coca-Cola Company (TCCC) group.  Hindustan Coca-Cola Beverages Private Limited (HCCB) is a subsidiary of the Target. HCCB is engaged in the preparing, packaging, supply and distribution of a variety of Coca-Cola beverages in India. It is also engaged in the preparation and distribution of beverages under the ‘Monster’ brand owned by Monster Inc.

    The proposed combination relates to inter alia: (i) JBL’s proposed acquisition of 40% of the shareholding of HCCH from Hindustan Coca-Cola Overseas Holdings Pte. Ltd., and Bharat Coca-Cola Overseas Holdings Pte. Ltd.; and (ii) BevCo’s and the Investors’ proposed subscription to compulsorily convertible preference shares (CCPS) in JBL. [step (i) and (ii) together comprise the Proposed Combination].

    Detailed order of the Commission will follow.

    ***** 

    NB/AD

    (Release ID: 2125860) Visitor Counter : 35

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: CCI approves proposed combination involving acquisition in HealthCare Global Enterprises Limited by KKR through Hector Asia Holdings and KIA EBT II Scheme

    Source: Government of India

    Posted On: 01 MAY 2025 6:25PM by PIB Delhi

    The Competition Commission of India has approved the proposed combination involving acquisition in HealthCare Global Enterprises Limited by KKR through Hector Asia Holdings and KIA EBT II Scheme.

    Hector Asia Holdings II Pte. Ltd. (Hector) is private company incorporated in Singapore. It is an indirectly wholly-owned by investment funds, vehicles and / or accounts advised and managed by various subsidiaries of KKR and Co. Inc (“KKR & Co.” and together with its subsidiaries, “KKR”).

    KIA EBT II Scheme 1, an employee benefit scheme of KIA EBT Trust II (EBT) is an employee benefit scheme of KIA EBT Trust II, a trust settled under the Indian Trusts Act, 1882. Its beneficiaries are employees of KKR.

    KKR is a global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds.

    HealthCare Global Enterprises Limited (Target) is a publicly listed company. It is active in the business of (a) operating multi-specialty hospitals at Bhavnagar, Ahmedabad, Rajkot and Hubli and comprehensive cancer care centres; (b) providing cancer care services, diagnosis and treatment; (c) operating day care clinics, fertility centres, radiology and PET-CT facilities; (d) providing reproductive medicine services; and (e) conducting life sciences, academic research and clinical testing, and diagnostics providing precision medicine solutions.

    Hector along with EBT propose to acquire up to 54% of the diluted voting share capital of the Target from Aceso Company Pte. Ltd. in two tranches. Pursuant to the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, a mandatory tender offer in India will be triggered, requiring Hector to make an open offer to the public shareholders of the Target for acquisition of up to 26% of the expanded voting share capital of the Target. Depending on tendering of shares in the open offer, the Acquirers are expected to hold an eventual stake of between 54% of the expanded voting share capital to 77% of the expanded voting share capital of the Target (Proposed Combination)

    Detailed order of the Commission will follow.

    *****

    NB/AD

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: DoSJE-UNDP Agreement signed to enable Improved Access to Finance and Relevant Technologies, along with Safe and Sustainable Work Environment

    Source: Government of India

    Posted On: 01 MAY 2025 5:13PM by PIB Delhi

    On the occasion of Labour Day 2025, the Ministry of Social Justice and Empowerment (MoSJE) has taken a landmark step by signing a Letter of Agreement (LoA) with UNDP, for recognizing and strengthening the wastepickers’ contribution in waste collection, recovery and recycling. The initiative would be providing them improved access to finance and relevant technologies along with safe and sustainable work environment.

    The LoA was exchanged between Dr. Angela Lusigi, Resident Representative for the United Nations Development Programme (UNDP) in India and Shri Amit Yadav, Secretary, Department of Social Justice and Empowerment (DoSJE). Smt. Yogita Swaroop, Sr. Economic Advisor, DoSJE, and Shri P.K. Singh, Managing Director, National Safai Karamcharis Finance and Development Corporation (NSKFDC), were also present at the LoA signing ceremony.

    The UNDP has stepped forward to provide crucial financial support for the establishment of State Project Management Units (PMUs) across various States under the NAMASTE Scheme. This strategic intervention by UNDP will significantly streamline coordination between Central authorities and State governments, ensuring more effective and timely implementation of the scheme’s objectives thereby improving  outcomes for all stakeholders involved in the scheme.

    Wastepickers have been added as a component under the National Action for Mechanised Sanitation Ecosystem (NAMASTE) Scheme from the financial year 2024. NAMASTE is being implemented by MoSJE for broadening the formal inclusion of waste pickers across India, with an aim to enumerate 2,50,000 waste pickers nationwide.

    The NAMASTE Scheme’s wastepicker component aims to enumerate and recognize them through a nationwide digital profiling and registration drive. The focus is to provide occupational photo ID cards to ensure formal identity and access to government benefits. It aims to offer health insurance coverage under Ayushman Bharat-PMJAY, skill upgradation training, provision of PPE kits, and capital subsidies for waste collection vehicles. It will also facilitate the formation and strengthening of wastepicker collectives, enabling them to manage Decentralized Waste Collection Centers (DWCCs) and improve their livelihoods.

    Since the scheme’s rollout, over 5,000 wastepickers have been profiled across multiple States, marking a significant milestone in the formal recognition and integration of this workforce. The profiling is being carried out using a dedicated NAMASTE mobile application, ensuring a robust and accessible database for extending scheme benefits.

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    VM

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Coal Production in the Country Grows 3.63% in April, 2025 Compared to Last Year

    Source: Government of India

    Posted On: 01 MAY 2025 4:59PM by PIB Delhi

    India’s coal production and dispatch witnessed steady growth in April 2025, compared to the same period last year. This reflects the continued efforts of the Ministry of Coal and its subsidiaries to ensure consistent supply and operational stability in the sector.

    The overall coal production in India during April 2025 reached 81.57 MT (Provisional), marking an increase over the 78.71 MT produced in the corresponding period of the previous year. Production from Captive/Other entities mines during April 2025 in FY 2025-26 stood at 14.51 MT (Provisional), registering a significant rise from 11.46 MT recorded during the same period last year. This surge highlights the growing contribution of captive mining to India’s overall coal output.

    India’s total coal dispatch during April 2025 reached 86.64 MT (Provisional), demonstrating a steady increase from 85.11 MT recorded during April 2024 in FY 2025-26.

    As on 30.04.2025, the coal stock held by coal companies witnessed a notable surge, reaching 125.76 MT in FY 2025-26, as compared to 102.41 MT during the corresponding period of the previous year. At Coal India Limited (CIL) alone, the total coal stock stood at 105 MT in FY 2025-26, marking a 22.10% growth over the 86.60 MT recorded during the same period last year. This surge reflects an impressive annual growth rate of 22.8% underscoring the robust performance and efficiency of the coal sector.

    The Ministry of Coal remains committed to achieving sustainable growth, improving coal availability, and reducing dependence on imports. With the positive momentum, the coal sector continues to play a pivotal role in powering India’s growth story.

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    Shuhaib T

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    MIL OSI Asia Pacific News

  • MIL-OSI: SkyCrest Capital Launches SkyAlpha X 2.0 AI System and Innovative SkyFund Protocol (SKF)

    Source: GlobeNewswire (MIL-OSI)

    Denver, CO, May 01, 2025 (GLOBE NEWSWIRE) — SkyCrest Capital, a global fintech innovator headquartered in Manhattan, today announced the official launch of its next-generation artificial intelligence system, SkyAlpha X 2.0, along with the unveiling of its decentralized finance infrastructure, the SkyFund Protocol (SKF). Together, these breakthroughs mark a new chapter in the evolution of asset management—uniting artificial intelligence, blockchain, and decentralized governance into one intelligent financial ecosystem.

    Founded in 2019 by Nathaniel Ross, a financial and tech visionary with experience at Goldman Sachs and Bridgewater Associates, SkyCrest Capital has quickly risen to prominence. SkyCrest Capital, established in 2019, is a global fintech leader, blending artificial intelligence with asset management, based in New York. The firm provides high-net-worth clients with strategies in equities, cryptocurrencies, and DeFi, managing $1.2 billion in assets while adhering to SEC and MSB compliance standards. This robust regulatory backing ensures global market credibility, offering clients a secure and reliable investment environment. Serving over 600 high-net-worth clients worldwide, SkyCrest operates offices in New York, Singapore, and Dubai, delivering smart equity trading, crypto quant contracts, family office planning, and multi-market arbitrage strategies.

    The driving force behind SkyCrest’s success is its SkyAlpha X AI system, fully upgraded to version 2.0 in 2025, which revolutionizes traditional finance by eliminating reliance on human intuition. SkyAlpha X 2.0 integrates on-chain data, social media sentiment, and macroeconomic signals, dramatically enhancing market prediction accuracy and precision.

    SkyCrest’s latest breakthrough, SkyFund Protocol (SKF), launched in 2025 on the Solana blockchain, positions itself as a bridge between TradFi and DeFi. With a total supply of 1 billion tokens, SKF enables global investors to stake USDT, ETH, or BTC, participate in SkyAlpha X 2.0-driven trading strategies, and share profits and governance rights. Users can bind strategy nodes to unlock premium signals and exclusive asset pools, reaping periodic dividends. SKF’s smart oracles and AI-driven rhythm validation optimize strategy triggers, minimizing market noise and ensuring execution efficiency, fully showcasing the high-precision capabilities of version 2.0.

    SkyCrest’s success hinges on its world-class team. Founder Nathaniel Ross, guided by his “cognition over profit” ethos, drives the SkyAlpha Financial Education Program, empowering young traders and clients. Chief AI Scientist Dr. Elena Chen leads SkyAlpha X algorithm development, Chief Investment Officer James Whitaker excels in multi-asset management, and Head of Client Relations and Assistant Audrey Sinclair ensures personalized service for 600 clients. All strategy data and profit distributions are openly shared, reflecting SkyCrest’s commitment to transparency.

    Looking ahead, SkyCrest aims to position SkyFund Protocol as the world’s leading decentralized asset management platform. By 2026, the firm plans to launch AI strategy NFTs, enabling strategy authorization trading, and integrate with ETFs and real-world assets (RWA) for on-chain mapping. SkyAlpha X’s next-generation upgrade (Alpha 3.0) will introduce even sharper sentiment modeling, collaborating with DePIN and AI Agents to power cross-platform strategy execution. SkyCrest’s vision extends beyond wealth creation—it seeks to build a smart, transparent, and inclusive financial ecosystem, ensuring every investor benefits from AI and blockchain’s transformative potential.

    SkyCrest Capital’s success is anchored by its world-class team. Founder Nathaniel Ross, guided by his “cognition over profit” philosophy, champions the SkyAlpha Financial Education Program, empowering young traders and clients. Chief AI Scientist Dr. Elena Chen spearheads SkyAlpha X algorithm development, Chief Investment Officer James Whitaker excels in multi-asset management, and Head of Client Relations and Assistant Audrey Sinclair ensures personalized service for 600 clients. All strategy data and profit distributions are shared openly, reflecting SkyCrest’s unwavering commitment to transparency.

    Looking ahead, SkyCrest Capital aims to position SkyFund Protocol as the world’s premier decentralized asset management platform. By 2026, the firm plans to launch AI strategy NFTs, enabling authorized strategy trading, and integrate with ETFs and real-world assets (RWA) for on-chain mapping. SkyAlpha X’s next-generation upgrade (Alpha 3.0) will introduce sharper sentiment modeling, collaborating with DePIN and AI Agents to empower cross-platform strategy execution. SkyCrest’s vision extends beyond wealth creation—it seeks to build a smart, transparent, and inclusive financial ecosystem, ensuring every investor reaps the benefits of AI and blockchain innovation.

    SkyCrest Capital invites global investors to join this financial revolution. For more information, contact our teams in Manhattan, Singapore, or Dubai, or visit our website to explore our innovative journey.

    About SkyCrest Capital SkyCrest Capital is a global fintech leader, blending artificial intelligence with asset management, headquartered in New York. The firm serves high-net-worth clients with equity, crypto, and DeFi strategies, managing $1.2 billion in assets with a global presence.

    Company Name: SkyCrest Capital
    Website: https://www.skyskinla.com/
    Contact: Audrey Sinclair
    Email: service(at)skyskinla.com

    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