Category: Business

MIL-OSI: Expand Energy Corporation Reports First Quarter 2025 Results

Source: GlobeNewswire (MIL-OSI)

OKLAHOMA CITY, April 29, 2025 (GLOBE NEWSWIRE) — Expand Energy Corporation (NASDAQ: EXE) (“Expand Energy” or the “Company”) today reported first quarter 2025 financial and operating results.

Net cash provided by operating activities of $1,096 million
Net loss of $249 million, or $1.06 per fully diluted share; adjusted net income⁽¹⁾of $487 million, or $2.02 per share
Adjusted EBITDAX⁽¹⁾of $1,395 million
Produced approximately 6.79 Bcfe/d net (92% natural gas)
Added to the S&P 500, effective March 24, 2025
Upgraded to Investment Grade credit rating by Moody’s (Baa3); achieved uniform Investment Grade rating from all rating agencies
Quarterly base dividend of $0.575 per common share to be paid in June 2025, 17th straight quarter of paying a dividend
On track to capture approximately $400 million in 2025 synergies, with the total target of $500 million in annual synergies expected to be achieved by year end 2026

(1) Definitions of non-GAAP financial measures and reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure are included at the end of this news release.

“Overcoming market volatility requires a resilient financial foundation, a deep market-connected portfolio, and low cost, efficient operations, all hallmarks of our strategy,” said Nick Dell’Osso, Expand Energy’s President and Chief Executive Officer. “We continue to execute our business, utilizing our productive capacity to navigate today’s dynamic macro environment and be prepared to efficiently respond as market conditions change.”

Operations Update

Expand Energy operated an average of 11 rigs during the first quarter, drilling 46 wells and turning 89 wells in line, resulting in net production of approximately 6.79 Bcfe per day (92% natural gas). A detailed breakdown of first quarter production, capital expenditures and activity can be found in supplemental slides which have been posted at https://investors.expandenergy.com/events-presentations.

2025 Annual Synergy, Capital and Operating Outlook

In 2025, Expand Energy expects to run approximately 12 rigs and invest approximately $2.7 billion yielding an estimated daily production of approximately 7.1 Bcfe/d. The Company intends to build incremental productive capacity for an additional $300 million by exiting 2025 with approximately 15 rigs. This incremental capital investment positions the Company to efficiently grow production from a year-end 2025 exit rate of approximately 7.2 Bcfe/d to average approximately 7.5 Bcfe/d in 2026 should market conditions warrant.

Expand Energy is on track to capture its 2025 expected annual synergy target of approximately $400 million. The Company expects to achieve the full $500 million in annual synergies by year end 2026.

A detailed breakdown of 2025 annual synergy, capital, and operating outlook can be found in supplemental slides which have been posted at https://investors.expandenergy.com/events-presentations.

Shareholder Returns Update

Expand Energy enhanced its capital return framework in 2024 to more efficiently return cash to shareholders and reduce Net Debt. The Company plans to pay its quarterly base dividend of $0.575 per share on June 4, 2025 to shareholders of record at the close of business on May 15, 2025. The Company expects to allocate $500 million to Net Debt reduction in 2025, and at current market conditions, to have additional free cash flow available to allocate to the combination of variable dividends, share repurchases, and the balance sheet.

Conference Call Information

A conference call to discuss Expand Energy’s first quarter 2025 financial and operating results and 2025 outlook has been scheduled for 9 a.m. EDT on April 30, 2025. Participants can access the live webcast at https://edge.media-server.com/mmc/p/kn8j2wew/. Participants who would like to ask a question, can register at https://register-conf.media-server.com/register/BIb82422792483441f93f8794cbf385f7c, and will receive the dial-in info and a unique PIN to join the call. Links to the conference call will be provided at https://investors.expandenergy.com/. A replay will be available on the website following the call.

Financial Statements, Non-GAAP Financial Measures and 2025 Guidance and Outlook Projections

This news release contains the non-GAAP financial measures described below in the section titled “Non-GAAP Financial Measures.” Reconciliations of each non-GAAP financial measure used in this news release to the most directly comparable GAAP financial measure are provided below. Additional detail on the Company’s 2025 first quarter financial and operational results, along with non-GAAP measures that adjust for items typically excluded by securities analysts, are available on the Company’s website. Non-GAAP measures should not be considered as an alternative to, or more meaningful than, GAAP measures. Management’s guidance for 2025 can be found on the Company’s website at https://www.expandenergy.com/.

Expand Energy Corporation (NASDAQ: EXE) is the largest natural gas producer in the United States, powered by dedicated and innovative employees focused on disrupting the industry’s traditional cost and market delivery model to responsibly develop assets in the nation’s most prolific natural gas basins. Expand Energy’s returns-driven strategy strives to create sustainable value for its stakeholders by leveraging its scale, financial strength and operational execution. Expand Energy is committed to expanding America’s energy reach to fuel a more affordable, reliable, lower carbon future.

Forward-Looking Statements

This release includes “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. Forward-looking statements include our current expectations or forecasts of future events, including matters relating to armed conflict and instability in Europe and the Middle East, along with the effects of the current global economic environment, and the impact of each on our business, financial condition, results of operations and cash flows, actions by, or disputes among or between, members of OPEC+ and other foreign oil-exporting countries, market factors, market prices, our ability to meet debt service requirements, our ability to continue to pay cash dividends, our ability to capture synergies, the amount and timing of any cash dividends and our environmental, social, and governance (“ESG”) initiatives. Forward-looking and other statements in this news release regarding our environmental, social and other sustainability plans and goals are not an indication that these statements are necessarily material to investors or required to be disclosed in our filings with the Securities and Exchange commission (“SEC”). In addition, historical, current, and forward-looking environmental, social and sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. Forward-looking statements often address our expected future business, financial performance and financial condition, and often contain words such as “aim”, “predict”, “should”, “expect,” “could,” “may,” “anticipate,” “intend,” “plan,” “ability,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “guidance,” “outlook,” “opportunity” or “strategy.” The absence of such words or expressions does not necessarily mean the statements are not forward-looking.

Although we believe the expectations and forecasts reflected in our forward-looking statements are reasonable, they are inherently subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. No assurance can be given that such forward-looking statements will be correct or achieved or that the assumptions are accurate or will not change over time. Particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include:

Reduced demand for natural gas, oil, and natural gas liquids (“NGLs”);
negative public perceptions of our industry;
competition in the natural gas and oil exploration and production industry;
the volatility of natural gas, oil and NGL prices, which are affected by general economic and business conditions, as well as increased demand for (and availability of) alternative fuels and electric vehicles;
risks from regional epidemics or pandemics and related economic turmoil, including supply chain constraints;
write-downs of our natural gas and oil asset carrying values due to low commodity prices;
significant capital expenditures are required to replace our reserves and conduct our business;
our ability to replace reserves and sustain production;
uncertainties inherent in estimating quantities of natural gas, oil and NGL reserves and projecting future rates of production and the amount and timing of development expenditures;
drilling and operating risks and resulting liabilities;
our ability to generate profits or achieve targeted results in drilling and well operations;
leasehold terms expiring before production can be established;
risks from our commodity price risk management activities;
uncertainties, risks and costs associated with natural gas and oil operations;
our need to secure adequate supplies of water for our drilling operations and to dispose of or recycle the water used;
pipeline and gathering system capacity constraints and transportation interruptions;
risks related to our plans to participate in the global LNG value chain;
terrorist activities and/or cyber-attacks adversely impacting our operations;
risks from failure to protect personal information and data and compliance with data privacy and security laws and regulations;
disruption of our business by natural or human causes beyond our control;
a deterioration in general economic, business or industry conditions;
the impact of inflation and commodity price volatility, including as a result of decisions made by OPEC+ and armed conflict and instability in Europe and the Middle East, along with the effects of the current global economic environment, on our business, financial condition, employees, contractors, vendors and the global demand for natural gas and oil and on U.S. and global financial markets;
our inability to access the capital markets on favorable terms;
the limitations on our financial flexibility due to our level of indebtedness and restrictive covenants from our indebtedness;
challenges with employee retention and increasingly competitive labor market
risks related to acquisitions or dispositions, or potential acquisitions or dispositions;
security threats, including cybersecurity threats and disruptions to our business and operations from breaches of our information technology systems, or from breaches of information technology systems of third parties with whom we transact business;
our ability to achieve and maintain ESG certifications, goals and commitments;
legislative, regulatory, and ESG initiatives, including those addressing the impact of climate change or further regulating hydraulic fracturing, methane emissions, flaring or water disposal;
federal and state tax proposals affecting our industry;
risks related to an annual limitation on the utilization of our tax attributes, which was triggered upon the completion of our merger with Southwestern Energy Company (the “Southwestern Merger”), as well as trading in our common stock, additional issuance of common stock, and certain other stock transactions, which could lead to an additional, potentially more restrictive, annual limitation; and
other factors that are described under Risk Factors in Item 1A of Part I of our Annual Report on Form 10-K filed with the SEC.

We caution you not to place undue reliance on the forward-looking statements contained in this news release, which speak only as of the filing date, and we undertake no obligation and have no intention to update any forward-looking statement, except as required by law. We urge you to carefully review and consider the disclosures in this news release and our filings with the SEC that attempt to advise interested parties of the risks and factors that may affect our business.

All forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement.

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)

($ in millions, except per share data)	March 31, 2025			December 31, 2024
Assets
Current assets:
Cash and cash equivalents	$	349		$	317
Restricted cash		78			78
Accounts receivable, net		1,361			1,226
Derivative assets		—			84
Other current assets		325			292
Total current assets		2,113			1,997
Property and equipment:
Natural gas and oil properties, successful efforts method
Proved natural gas and oil properties		23,874			23,093
Unproved properties		5,774			5,897
Other property and equipment		678			654
Total property and equipment		30,326			29,644
Less: accumulated depreciation, depletion and amortization		(6,066	)		(5,362	)
Total property and equipment, net		24,260			24,282
Long-term derivative assets		2			1
Deferred income tax assets		626			589
Other long-term assets		933			1,025
Total assets	$	27,934		$	27,894

Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	654		$	777
Current maturities of long-term debt, net		—			389
Accrued interest		68			100
Derivative liabilities		896			71
Other current liabilities		1,971			1,786
Total current liabilities		3,589			3,123
Long-term debt, net		5,243			5,291
Long-term derivative liabilities		129			68
Asset retirement obligations, net of current portion		506			499
Long-term contract liabilities		1,159			1,227
Other long-term liabilities		117			121
Total liabilities		10,743			10,329
Contingencies and commitments
Stockholders’ equity:
Common stock, $0.01 par value, 450,000,000 shares authorized: 237,476,127 and 231,769,886 shares issued		2			2
Additional paid-in capital		13,700			13,687
Retained earnings		3,489			3,876
Total stockholders’ equity		17,191			17,565
Total liabilities and stockholders’ equity	$	27,934		$	27,894

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

	Three Months Ended March 31,
		2025			2024
($ in millions, except per share data)
Revenues and other:
Natural gas, oil and NGL	$	2,300		$	589
Marketing		910			312
Natural gas, oil and NGL derivatives		(1,014	)		172
Gains on sales of assets		—			8
Total revenues and other		2,196			1,081
Operating expenses:
Production		147			59
Gathering, processing and transportation		563			173
Severance and ad valorem taxes		48			29
Exploration		7			2
Marketing		919			323
General and administrative		47			47
Depreciation, depletion and amortization		711			399
Other operating expense, net		22			17
Total operating expenses		2,464			1,049
Income (loss) from operations		(268	)		32
Other income (expense):
Interest expense		(59	)		(19	)
Other income, net		8			20
Total other income (expense)		(51	)		1
Income (loss) before income taxes		(319	)		33
Income tax expense (benefit)		(70	)		7
Net income (loss)	$	(249	)	$	26
Earnings (loss) per common share:
Basic	$	(1.06	)	$	0.20
Diluted	$	(1.06	)	$	0.18
Weighted average common shares outstanding (in thousands):
Basic		234,434			130,893
Diluted		234,434			141,752

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

	Three Months Ended March 31,
($ in millions)		2025			2024
Cash flows from operating activities:
Net income (loss)	$	(249	)	$	26
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization		711			399
Deferred income tax expense (benefit)		(37	)		7
Derivative (gains) losses, net		1,014			(172	)
Cash receipts (payments) on derivative settlements, net		(45	)		228
Share-based compensation		9			9
Gains on sales of assets		—			(8	)
Contract amortization		(52	)		—
Other		(4	)		(13	)
Changes in assets and liabilities		(251	)		76
Net cash provided by operating activities		1,096			552
Cash flows from investing activities:
Capital expenditures		(563	)		(421	)
Receipts of deferred consideration		60			60
Contributions to investments		(4	)		(19	)
Proceeds from divestitures of property and equipment		—			6
Net cash used in investing activities		(507	)		(374	)
Cash flows from financing activities:
Proceeds from Credit Facility		725			—
Payments on Credit Facility		(725	)		—
Proceeds from warrant exercise		21			—
Cash paid to purchase debt		(436	)		—
Cash paid for common stock dividends		(142	)		(77	)
Net cash used in financing activities		(557	)		(77	)
Net increase in cash, cash equivalents and restricted cash		32			101
Cash, cash equivalents and restricted cash, beginning of period		395			1,153
Cash, cash equivalents and restricted cash, end of period	$	427		$	1,254

Cash and cash equivalents	$	349		$	1,179
Restricted cash		78			75
Total cash, cash equivalents and restricted cash	$	427		$	1,254

NATURAL GAS, OIL AND NGL PRODUCTION AND AVERAGE SALES PRICES (unaudited)

	Three Months Ended March 31, 2025
	Natural Gas		Oil		NGL		Total
	MMcf per day	$/Mcf	MBbl per day	$/Bbl	MBbl per day	$/Bbl	MMcfe per day	$/Mcfe
Haynesville	2,617	3.48	—	—	—	—	2,617	3.48
Northeast Appalachia	2,668	3.75	—	—	—	—	2,668	3.75
Southwest Appalachia	969	3.38	14	63.40	75	30.54	1,503	4.28
Total	6,254	3.58	14	63.40	75	30.54	6,788	3.76

Average NYMEX Price		3.65		71.42
Average Realized Price (including realized derivatives)		3.51		63.76		29.35		3.69

	Three Months Ended March 31, 2024
	Natural Gas		Oil		NGL		Total
	MMcf per day	$/Mcf	MBbl per day	$/Bbl	MBbl per day	$/Bbl	MMcfe per day	$/Mcfe
Haynesville	1,478	2.03	—	—	—	—	1,478	2.03
Northeast Appalachia	1,720	2.03	—	—	—	—	1,720	2.03
Total	3,198	2.03	—	—	—	—	3,198	2.03

Average NYMEX Price		2.24		—
Average Realized Price (including realized derivatives)		2.85		—		—		2.85

CAPITAL EXPENDITURES ACCRUED (unaudited)

	Three Months Ended March 31,
		2025		2024
($ in millions)
Drilling and completion capital expenditures:
Haynesville	$	286	$	195
Northeast Appalachia		103		105
Southwest Appalachia		165		—
Total drilling and completion capital expenditures		554		300
Non-drilling and completion – field		56		35
Non-drilling and completion – corporate		52		19
Total capital expenditures	$	662	$	354

NON-GAAP FINANCIAL MEASURES

As a supplement to the financial results prepared in accordance with U.S. GAAP, Expand Energy’s quarterly earnings releases contain certain financial measures that are not prepared or presented in accordance with U.S. GAAP. These non-GAAP financial measures include Adjusted Net Income, Adjusted Diluted Earnings Per Common Share, Adjusted EBITDAX, Free Cash Flow, Adjusted Free Cash Flow and Net Debt. A reconciliation of each financial measure to its most directly comparable GAAP financial measure is included in the tables below. Management believes these adjusted financial measures are a meaningful adjunct to earnings and cash flows calculated in accordance with GAAP because (a) management uses these financial measures to evaluate the Company’s trends and performance, (b) these financial measures are comparable to estimates provided by securities analysts, and (c) items excluded generally are one-time items or items whose timing or amount cannot be reasonably estimated. Accordingly, any guidance provided by the Company generally excludes information regarding these types of items.

Expand Energy’s definitions of each non-GAAP measure presented herein are provided below. Because not all companies or securities analysts use identical calculations, Expand Energy’s non-GAAP measures may not be comparable to similarly titled measures of other companies or securities analysts.

Adjusted Net Income: Adjusted Net Income is defined as net income (loss) adjusted to exclude unrealized (gains) losses on natural gas and oil derivatives, (gains) losses on sales of assets, and certain items management believes affect the comparability of operating results, less a tax effect using applicable rates. Expand Energy believes that Adjusted Net Income facilitates comparisons of the Company’s period-over-period performance, by excluding the impact of items that, in the opinion of management, do not reflect Expand Energy’s core operating performance. Adjusted Net Income should not be considered an alternative to, or more meaningful than, net income (loss) as presented in accordance with GAAP.

Adjusted Diluted Earnings Per Common Share: Adjusted Diluted Earnings Per Common Share is defined as diluted earnings (loss) per common share adjusted to exclude the per diluted share amounts attributed to unrealized (gains) losses on natural gas and oil derivatives, (gains) losses on sales of assets, and certain items management believes affect the comparability of operating results, less a tax effect using applicable rates. Expand Energy believes that Adjusted Diluted Earnings Per Common Share facilitates comparisons of the Company’s period-over-period performance, by excluding the impact of items that, in the opinion of management, do not reflect Expand Energy’s core operating performance. Adjusted Diluted Earnings Per Common Share should not be considered an alternative to, or more meaningful than, earnings (loss) per common share as presented in accordance with GAAP.

Adjusted EBITDAX: Adjusted EBITDAX is defined as net income (loss) before interest expense, income tax expense (benefit), depreciation, depletion and amortization expense, exploration expense, unrealized (gains) losses on natural gas and oil derivatives, separation and other termination costs, (gains) losses on sales of assets, and certain items management believes affect the comparability of operating results. Adjusted EBITDAX is presented as it provides investors an indication of the Company’s ability to internally fund exploration and development activities and service or incur debt. Adjusted EBITDAX should not be considered an alternative to, or more meaningful than, net income (loss) as presented in accordance with GAAP.

Free Cash Flow: Free Cash Flow is defined as net cash provided by operating activities less cash capital expenditures. Free Cash Flow is a liquidity measure that provides investors additional information regarding the Company’s ability to service or incur debt and return cash to shareholders. Free Cash Flow should not be considered an alternative to, or more meaningful than, net cash provided by (used in) operating activities, or any other measure of liquidity presented in accordance with GAAP.

Adjusted Free Cash Flow: Adjusted Free Cash Flow is defined as net cash provided by operating activities less cash capital expenditures and cash contributions to investments, adjusted to exclude certain items management believes affect the comparability of operating results. Adjusted Free Cash Flow is a liquidity measure that provides investors additional information regarding the Company’s ability to service or incur debt and return cash to shareholders and is used to determine Expand Energy’s payout of enhanced returns framework. Adjusted Free Cash Flow should not be considered an alternative to, or more meaningful than, net cash provided by (used in) operating activities, or any other measure of liquidity presented in accordance with GAAP.

Net Debt: Net Debt is defined as GAAP total debt excluding premiums, discounts, and deferred issuance costs less cash and cash equivalents. Net Debt is useful to investors as a widely understood measure of liquidity and leverage, but this measure should not be considered as an alternative to, or more meaningful than, total debt presented in accordance with GAAP.

RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED NET INCOME (unaudited)

	Three Months Ended March 31,
($ in millions)		2025			2024
Net income (loss) (GAAP)	$	(249	)	$	26

Adjustments:
Unrealized losses on natural gas and oil derivatives		969			67
Gains on sales of assets		—			(8	)
Other operating expense, net		26			19
Contract amortization		(52	)		—
Other		(4	)		(8	)
Tax effect of adjustments^(a)		(203	)		(16	)
Adjusted net income (Non-GAAP)	$	487		$	80

(a)	The three month periods ended March 31, 2025 and March 31, 2024 include a tax effect attributed to reconciling adjustments using a statutory rate of 22% and 23%, respectively.

RECONCILIATION OF EARNINGS (LOSS) PER COMMON SHARE TO ADJUSTED DILUTED EARNINGS PER COMMON SHARE (unaudited)

	Three Months Ended March 31,
($/share)		2025			2024
Earnings (loss) per common share (GAAP)	$	(1.06	)	$	0.20
Effect of dilutive securities		—			(0.02	)
Diluted earnings (loss) per common share (GAAP)	$	(1.06	)	$	0.18

Adjustments:
Unrealized losses on natural gas and oil derivatives		4.14			0.47
Gains on sales of assets		—			(0.06	)
Other operating expense, net		0.11			0.14
Contract amortization		(0.22	)		—
Other		(0.02	)		(0.06	)
Tax effect of adjustments^(a)		(0.87	)		(0.11	)
Effect of dilutive securities		(0.06	)		—
Adjusted diluted earnings per common share (Non-GAAP)	$	2.02		$	0.56

(a)	The three month periods ended March 31, 2025 and March 31, 2024 include a tax effect attributed to reconciling adjustments using a statutory rate of 22% and 23%, respectively.

RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED EBITDAX (unaudited)

	Three Months Ended March 31,
		2025			2024
($ in millions)
Net income (loss) (GAAP)	$	(249	)	$	26

Adjustments:
Interest expense		59			19
Income tax expense (benefit)		(70	)		7
Depreciation, depletion and amortization		711			399
Exploration		7			2
Unrealized losses on natural gas and oil derivatives		969			67
Gains on sales of assets		—			(8	)
Other operating expense, net		26			19
Contract amortization		(52	)		—
Other		(6	)		(23	)
Adjusted EBITDAX (Non-GAAP)	$	1,395		$	508

RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO ADJUSTED FREE CASH FLOW (unaudited)

	Three Months Ended March 31,
		2025			2024
($ in millions)
Net cash provided by operating activities (GAAP)	$	1,096		$	552
Cash capital expenditures		(563	)		(421	)
Free cash flow (Non-GAAP)		533			131
Cash paid for merger expenses		48			—
Cash contributions to investments		(4	)		(19	)
Adjusted free cash flow (Non-GAAP)	$	577		$	112

RECONCILIATION OF TOTAL DEBT TO NET DEBT (unaudited)

($ in millions)	March 31, 2025
Total debt (GAAP)	$	5,243
Premiums, discounts and issuance costs on debt		7
Principal amount of debt		5,250
Cash and cash equivalents		(349	)
Net debt (Non-GAAP)	$	4,901

The MIL Network –

April 30, 2025

MIL-OSI: Micron Announces Participation in Investor Event

Source: GlobeNewswire (MIL-OSI)

BOISE, Idaho, April 29, 2025 (GLOBE NEWSWIRE) — Micron Technology, Inc. (Nasdaq: MU) announced today that company executives will participate at the 53rd Annual J.P. Morgan Global Technology, Media and Communications Conference in Boston, Massachusetts on Wednesday, May 14, at 6:40 a.m. Mountain Time.

Live webcasts and subsequent replays of presentations can be accessed from Micron’s Investor Relations website at investors.micron.com/.

About Micron Technology, Inc.
We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.

© 2025 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners.

The MIL Network –

April 30, 2025
MIL-OSI: Oxbridge / SurancePlus to Speak During TOKEN2049 Dubai at THE GREAT GATHER – Day 2
Source: GlobeNewswire (MIL-OSI)

GRAND CAYMAN, Cayman Islands, April 29, 2025 (GLOBE NEWSWIRE) — Oxbridge Re Holdings Limited (Nasdaq: OXBR) (“Oxbridge Re”), together with its subsidiary SurancePlus, is engaged in the tokenization of Real-World Assets (“RWAs”), initially with tokenized reinsurance securities and in providing reinsurance solutions to property and casualty insurers in the Gulf Coast region of the United States. The company today announced that its CEO and Chairman, Jay Madhu, will participate in a featured panel discussion at THE GREAT GATHER – DAY 2 hosted by DNA Fund & IBC Ventures during TOKEN2049 Dubai.

Panel: A Deep Dive into How Traditional Finance Players Are Navigating and Embracing Tokenization
Date: Thursday, May 1st, 2025
Time: 4:00PM – 4:30PM (GST)
Location: DNA House Dubai: Gigi Rigolatto Dubai, J1 Beach – Jumeirah 1 – Dubai, UAE

Panelists:
- Jay Madhu (Oxbridge / SurancePlus)
- Fahmi Syed (Input Output / Midnight)
- Jake O. (BitGo)
THE GREAT GATHER – DAY 2

THE GREAT GATHER is one of the most talked about events of TOKEN2049, bringing together top-tier projects, titans, influencers and investors shaping the future of finance, Web3, AI and tech. Hosted at DNA House with partners Mario Nawfal, Midnight, Zeebu and Multibank, this powerhouse gathering offers two days of premier programming, connections and deal-making opportunities.

Jay Madhu, CEO of Oxbridge, commented, “We look forward to joining this distinguished panel at THE GREAT GATHER – Day 2 during TOKEN2049 Dubai to showcase how Oxbridge / SurancePlus are democratizing reinsurance and expanding access to high-yield, uncorrelated investment opportunities through Web3 innovation.”

Investors can participate directly in SurancePlus offerings:

Learn more and invest at SurancePlus.com/invest

Meet Oxbridge / SurancePlus THE GREAT GATHER – Day 2

Investors and potential partners interested in Oxbridge and SurancePlus’ tokenized reinsurance offerings are encouraged to connect with the team during the event. Contact details are provided below.

Disclaimer: This press release does not constitute an offer to sell nor a solicitation of an offer to buy the EtaCat Re or ZetaCat Re tokenized reinsurance securities (the “Securities”). The Securities are not required to be, and have not been, registered under the United States Securities Act of 1933, as amended, in reliance on the exemptions provided by Regulation S and SEC Rule 506(c) thereunder. Offers and sales of the Securities are made only by, and pursuant to, the terms set forth in the Confidential Private Placement Memorandum relating to the Securities. The offering of the Securities is not being made to persons in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky, or other laws of such jurisdiction.

About Oxbridge Re Holdings Limited

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

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

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

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

About Midnight

The Midnight Network is a data protection blockchain pioneering the use of zero-knowledge technology to empower organizations that stand to benefit from the decentralized web. Midnight is one of the first blockchains to offer programmable data protection by leveraging zero-knowledge (ZK) proofs to provide selective disclosure for sensitive data. It is designed to help app developers meet regulatory requirements. Midnight is set to launch as the first partner chain of Cardano, benefiting from the network’s decentralization and security from day one.

About BitGo:

BitGo is the leading infrastructure provider of digital asset solutions, delivering custody, wallets, staking, trading, financing, and settlement services from regulated cold storage. Since our founding in 2013, we have focused on enabling our clients to securely navigate the digital asset space. With a large global presence through multiple regulated entities, BitGo serves thousands of institutions, including many of the industry’s top brands, exchanges, and platforms, as well as millions of retail investors worldwide. As the operational backbone of the digital economy, BitGo handles a significant portion of Bitcoin network transactions and is the largest independent digital asset custodian, and staking provider, in the world. For more information, visit www.bitgo.com.

Forward-Looking Statements

This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. A detailed discussion of risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in the section entitled “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission (“SEC”) on 26th March 2024. The occurrence of any of these risks and uncertainties could have a material adverse effect on the Company’s business, financial condition and results of operations. Any forward-looking statements made in this press release speak only as of the date of this press release and, except as required by law, the Company undertakes no obligation to update any forward-looking statement contained in this press release, even if the Company’s expectations or any related events, conditions or circumstances change.

The MIL Network –
April 30, 2025

MIL-OSI: Vicor Corporation Reports Results for the First Quarter Ended March 31, 2025

Source: GlobeNewswire (MIL-OSI)

ANDOVER, Mass., April 29, 2025 (GLOBE NEWSWIRE) — Vicor Corporation (NASDAQ: VICR) today reported financial results for the first quarter ended March 31, 2025. These results will be discussed later today at 5:00 p.m. Eastern Time, during management’s quarterly investor conference call. The details for the call are below.

Revenues for the first quarter ended March 31, 2025 totaled $94.0 million, a 12.0% increase from $83.9 million for the corresponding period a year ago, and a 2.3% sequential decrease from $96.2 million in the fourth quarter of 2024.

Gross margin decreased to $44.4 million for the first quarter of 2025, compared to $45.1 million for the corresponding period a year ago, and decreased sequentially from $50.4 million for the fourth quarter of 2024. Gross margin, as a percentage of revenue, decreased to 47.2% for the first quarter of 2025, compared to 53.8% for the corresponding period a year ago, and decreased from 52.4% for the fourth quarter of 2024. Operating expenses decreased to $44.5 million for the first quarter of 2025, compared to $61.2 million for the corresponding period a year ago, and increased sequentially from $41.2 million for the fourth quarter of 2024.

Net income for the first quarter was $2.5 million, or $0.06 per diluted share, compared to a net loss of ($14.5) million or ($0.33) per diluted share, for the corresponding period a year ago and net income of $10.2 million, or $0.23 per diluted share, for the fourth quarter of 2024.

Cash flow from operations totaled $20.1 million for the first quarter, compared to cash flow from operations of $2.6 million for the corresponding period a year ago, and cash flow from operations of $10.1 million in the fourth quarter of 2024. Capital expenditures for the first quarter totaled $4.6 million, compared to $7.3 million for the corresponding period a year ago and $1.7 million for the fourth quarter of 2024. Cash and cash equivalents as of March 31, 2025 increased 6.8% sequentially to approximately $296.1 million compared to approximately $277.3 million as of December 31, 2024.

Backlog for the first quarter ended March 31, 2025 totaled $171.7 million, a 14.2% increase from $150.3 million for the corresponding period a year ago, and 10.4% sequential increase from $155.5 million at the end of the fourth quarter of 2024.

Commenting on first quarter performance, Chief Executive Officer Dr. Patrizio Vinciarelli stated: “Revenues and gross margins declined sequentially, with reduced income from a licensee transitioning to a new generation of unlicensed products. Margin improvements await higher utilization of our ChiP fab and increased income from existing and future licensees. Licensing has been gaining traction with OEMs and hyper-scalers wishing to avoid infringing hardware being excluded from importation into the US.”

“Our 2^nd generation VPD for leading AI applications is coming to fruition with the arrival of an ASIC raising the density and bandwidth of our current multipliers. Second generation VPD will enable AI processors setting new standards for performance. We are still focused on completing initial delivery of a very high density VPD system to a lead customer before providing demo systems to processor chip companies and hyper-scalers.”

For more information on Vicor and its products, please visit the Company’s website at www.vicorpower.com.

Earnings Conference Call

Vicor will be holding its investor conference call today, Tuesday, April 29, 2025 at 5:00 p.m. Eastern Time. Vicor encourages investors and analysts who intend to ask questions via the conference call to register with Notified, the service provider hosting the conference call. Those registering on Notified’s website will receive dial-in info and a unique PIN to join the call as well as an email confirmation with the details. Registration may be completed at any time prior to 5:00 p.m. on April 29, 2025. For those parties interested in listen-only mode, the conference call will be webcast via a link that will be posted on the Investor Relations page of Vicor’s website prior to the conference call. Please access the website at least 15 minutes prior to the conference call to register and, if necessary, download and install any required software. For those who cannot participate in the live conference call, a webcast replay of the conference call will also be available on the Investor Relations page of Vicor’s website.

This press release contains certain 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. Any statement in this press release that is not a statement of historical fact is a forward-looking statement, and, the words “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” “assumes,” “may,” “will,” “would,” “should,” “continue,” “prospective,” “project,” and other similar expressions identify forward-looking statements. Forward-looking statements also include statements regarding bookings, shipments, revenue, profitability, targeted markets, increase in manufacturing capacity and utilization thereof, future products and capital resources. These statements are based upon management’s current expectations and estimates as to the prospective events and circumstances that may or may not be within the company’s control and as to which there can be no assurance. Actual results could differ materially from those projected in the forward-looking statements as a result of various factors, including those economic, business, operational and financial considerations set forth in Vicor’s Annual Report on Form 10-K for the year ended December 31, 2024, under Part I, Item I — “Business,” under Part I, Item 1A — “Risk Factors,” under Part I, Item 3 — “Legal Proceedings,” and under Part II, Item 7 — “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” The risk factors set forth in the Annual Report on Form 10-K may not be exhaustive. Therefore, the information contained in the Annual Report on Form 10-K should be read together with other reports and documents filed with the Securities and Exchange Commission from time to time, including Forms 10-Q, 8-K and 10-K, which may supplement, modify, supersede or update those risk factors. Vicor does not undertake any obligation to update any forward-looking statements as a result of future events or developments.

Vicor Corporation designs, develops, manufactures, and markets modular power components and complete power systems based upon a portfolio of patented technologies. Headquartered in Andover, Massachusetts, Vicor sells its products to the power systems market, including enterprise and high performance computing, industrial equipment and automation, telecommunications and network infrastructure, vehicles and transportation, and aerospace and defense electronics.

For further information contact:

James F. Schmidt, Chief Financial Officer
Office: (978) 470-2900
Email: invrel@vicorpower.com

VICOR CORPORATION

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(Thousands except for per share amounts)

	QUARTER ENDED
	(Unaudited)

	MAR 31,			MAR 31,
	2025			2024


Product revenue	$	83,206		$	75,692
Royalty revenue		10,762			8,180
Net revenues		93,968			83,872
Cost of product revenues		49,603			38,749
Gross margin		44,365			45,123

Operating expenses:
Selling, general and administrative		25,137			25,999
Research and development		19,377			18,039
Litigation-contingency expense		–			17,200
Total operating expenses		44,514			61,238

Loss from operations		(149	)		(16,115	)

Other income (expense), net		3,134			2,724

Income (loss) before income taxes		2,985			(13,391	)

Less: Provision for income taxes		424			1,071

Consolidated net income (loss)		2,561			(14,462	)

Less: Net income attributable to
noncontrolling interest		22			11

Net income (loss) attributable to
Vicor Corporation	$	2,539		($	14,473	)


Net income (loss) per share attributable
to Vicor Corporation:
Basic	$	0.06		($	0.33	)
Diluted	$	0.06		($	0.33	)

Shares outstanding:
Basic		45,217			44,516
Diluted		45,495			44,516

VICOR CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEET
(Thousands)


	MAR 31,			DEC 31,
	2025			2024
	(Unaudited)			(Unaudited)
Assets

Current assets:
Cash and cash equivalents	$	296,099		$	277,273
Accounts receivable, net		65,864			52,948
Inventories		98,515			106,032
Other current assets		26,486			26,781
Total current assets		486,964			463,034

Long-term deferred tax assets		273			261
Long-term investment, net		2,664			2,641
Property, plant and equipment, net		153,117			152,705
Other assets		22,020			22,477

Total assets	$	665,038		$	641,118

Liabilities and Equity

Current liabilities:
Accounts payable	$	16,866		$	8,737
Accrued compensation and benefits		12,548			10,852
Accrued expenses		8,558			6,589
Accrued litigation		27,219			26,888
Sales allowances		2,114			1,667
Short-term lease liabilities		1,675			1,716
Income taxes payable		57			59
Short-term deferred revenue and customer prepayments		6,624			5,312

Total current liabilities		75,661			61,820

Long-term income taxes payable		3,461			3,387
Long-term lease liabilities		5,353			5,620
Total liabilities		84,475			70,827

Equity:
Vicor Corporation stockholders’ equity:
Capital stock		415,702			408,187
Retained earnings		305,342			302,803
Accumulated other comprehensive loss		(1,312	)		(1,495	)
Treasury stock		(139,424	)		(139,424	)
Total Vicor Corporation stockholders’ equity		580,308			570,071
Noncontrolling interest		255			220
Total equity		580,563			570,291

Total liabilities and equity	$	665,038		$	641,118

The MIL Network –

April 30, 2025

MIL-OSI: SuRo Capital Corp. to Report First Quarter 2025 Financial Results on Tuesday, May 6, 2025

Source: GlobeNewswire (MIL-OSI)

NEW YORK, April 29, 2025 (GLOBE NEWSWIRE) — SuRo Capital Corp. (“SuRo Capital”) (Nasdaq: SSSS) today announced that it will report its financial results for the quarter ended March 31, 2025 after the close of the U.S. market on Tuesday, May 6, 2025.

Management will hold a conference call and webcast for investors at 2:00 p.m. PT (5:00 p.m. ET). The conference call access number for U.S. participants is 866-580-3963, and the conference call access number for participants outside the U.S. is +1 786-697-3501. The conference ID number for both access numbers is 6883588. Additionally, interested parties can listen to a live webcast of the call from the “Investor Relations” section of SuRo Capital’s website at www.surocap.com. An archived replay of the webcast will also be available for 12 months following the live presentation.

A replay of the conference call may be accessed until 5:00 p.m. PT (8:00 p.m. ET) on May 13, 2025 by dialing 866-583-1035 (U.S.) or +44 (0) 20 3451 9993 (International) and using conference ID number 6883588.

About SuRo Capital Corp.

SuRo Capital Corp. (Nasdaq: SSSS) is a publicly traded investment fund that seeks to invest in high-growth, venture-backed private companies. The fund seeks to create a portfolio of high-growth emerging private companies via a repeatable and disciplined investment approach, as well as to provide investors with access to such companies through its publicly traded common stock. Since inception, SuRo Capital has served as the public’s gateway to venture capital, offering unique access to some of the world’s most innovative and sought-after private companies before they become publicly traded. SuRo Capital’s diverse portfolio encompasses high-growth sectors including AI infrastructure, emerging consumer brands, and cutting-edge software solutions for both consumer and enterprise markets, among others. SuRo Capital is headquartered in New York, NY and has offices in San Francisco, CA. Connect with the company on X, LinkedIn, and at www.surocap.com.

Contact
SuRo Capital Corp.
(212) 931-6331
IR@surocap.com

Media Contact
Deborah Kostroun
Zito Partners
SuRoCapitalPR@zitopartners.com

The MIL Network –

April 30, 2025

MIL-OSI: Tenable Announces First Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

Revenue of $239.1 million, up 11% year-over-year.
Calculated current billings of $215.4 million, up 9% year-over-year.
GAAP operating margin of (7)%; Non-GAAP operating margin of 20%.
Net cash provided by operating activities of $87.4 million; Unlevered free cash flow of $86.8 million.

COLUMBIA, Md., April 29, 2025 (GLOBE NEWSWIRE) — Tenable Holdings, Inc. (“Tenable”) (Nasdaq: TENB), the exposure management company, today announced financial results for the quarter ended March 31, 2025.

“We had a strong start to the year with better-than-expected results on both the top and bottom line,” said Steve Vintz, Co-CEO of Tenable. “With our ongoing investments in areas like AI and integrations with third-party tools and data sources we are helping our customers reduce risk with greater efficiency.”

“We had some incredible six- and seven-figure deals this quarter driving upside to our expectations and representing significant ongoing opportunities,” said Mark Thurmond, Co-CEO of Tenable. “Our outperformance was driven by continued momentum with Tenable One as we build strategic partnerships resulting in larger deal sizes, broader platform adoption, and greater asset coverage.”

First Quarter 2025 Financial Highlights

Revenue was $239.1 million, an 11% increase year-over-year.
Calculated current billings was $215.4 million, a 9% increase year-over-year.
GAAP loss from operations was $17.7 million, compared to $8.9 million in the first quarter of 2024.
Non-GAAP income from operations was $48.7 million, compared to $37.0 million in the first quarter of 2024.
GAAP net loss was $22.9 million, compared to $14.4 million in the first quarter of 2024.
GAAP net loss per share was $0.19, compared to $0.12 in the first quarter of 2024.
Non-GAAP net income was $44.3 million, compared to $30.4 million in the first quarter of 2024.
Non-GAAP diluted earnings per share was $0.36, compared to $0.25 in the first quarter of 2024.
Cash and cash equivalents and short-term investments were $460.3 million at March 31, 2025, compared to $577.2 million at December 31, 2024.
Net cash provided by operating activities was $87.4 million, compared to $50.3 million in the first quarter of 2024.
Unlevered free cash flow was $86.8 million, compared to $54.7 million in the first quarter of 2024.
Repurchased 1.6 million shares of our common stock for $60.0 million

Recent Business Highlights

Added 361 new enterprise platform customers and 54 net new six-figure customers.
Completed the acquisition of Vulcan Cyber Ltd., which is expected to enhance our industry-leading exposure management platform, delivering comprehensive visibility, prioritization and remediation across the entire attack surface.
Released Identity 360 and Exposure Center, two capabilities designed to help organizations pinpoint identity risks and take swift, targeted action to prevent identity-based attacks.
Achieved FedRAMP moderate authorization of Tenable One and Tenable Cloud Security, underscoring our commitment to strengthening government infrastructure and reducing cybersecurity risk to support national security.
Published the 2025 Cloud AI Risk Report, examining the current state of security risks in cloud AI development tools and frameworks and in AI services offered by the three major cloud providers.

Financial Outlook

For the second quarter of 2025, we currently expect:

Revenue in the range of $241.0 million to $243.0 million.
Non-GAAP income from operations in the range of $43.0 million to $45.0 million.
Non-GAAP net income in the range of $36.0 million to $38.0 million, assuming interest expense of $7.1 million, interest income of $4.0 million and a provision for income taxes of $3.2 million.
Non-GAAP diluted earnings per share in the range of $0.29 to $0.31.
123.0 million diluted weighted average shares outstanding.

For the year ending December 31, 2025, we currently expect:

Calculated current billings in the range of $1.025 billion to $1.045 billion.
Revenue in the range of $970.0 million to $980.0 million.
Non-GAAP income from operations in the range of $205.0 million to $215.0 million.
Non-GAAP net income in the range of $178.0 million to $188.0 million, assuming interest expense of $28.4 million, interest income of $16.8 million and a provision for income taxes of $13.1 million.
Non-GAAP diluted earnings per share in the range of $1.44 to $1.52.
123.5 million diluted weighted average shares outstanding.
Unlevered free cash flow in the range of $265.0 million to $275.0 million.

Conference Call Information

Tenable will host a conference call on April 29, 2025 at 4:30 p.m. Eastern Time to discuss its financial results. The conference call can be accessed at 877-407-9716 (U.S.) and 201-493-6779 (international). A live webcast of the event will be available on the Tenable Investor Relations website at https://investors.tenable.com. An archived replay of the live broadcast will be available on the Investor Relations page of the website following the call.

About Tenable

Tenable^® is the exposure management company, exposing and closing the cybersecurity gaps that erode business value, reputation and trust. The company’s AI-powered exposure management platform radically unifies security visibility, insight and action across the attack surface, equipping modern organizations to protect against attacks from IT infrastructure to cloud environments to critical infrastructure and everywhere in between. By protecting enterprises from security exposure, Tenable reduces business risk for approximately 44,000 customers around the globe. Learn more at tenable.com.

Contact Information

Investor Relations
investors@tenable.com

Media Relations
tenablepr@tenable.com

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, including statements regarding our future results of operations and financial position, our platform’s ability to help protect enterprises from security exposure and streamline vulnerability analysis and response, business strategy and plans and objectives for future operations, are forward-looking statements and represent our views as of the date of this press release. The words “anticipate,” “believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “will” and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of assumptions and risks and uncertainties, many of which involve factors or circumstances that are beyond our control that could affect our financial results. These risks and uncertainties are detailed in the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2024 and other filings that we make from time to time with the SEC, which are available on the SEC’s website at sec.gov. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the future events and trends discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in any forward-looking statements. Except as required by law, we are under no obligation to update these forward-looking statements subsequent to the date of this press release, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

Non-GAAP Financial Measures

To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we use certain non-GAAP financial measures, as described below, to understand and evaluate our core operating performance. These non-GAAP financial measures, which may be different than similarly titled measures used by other companies, are presented to enhance the overall understanding of our financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.

We believe that these non-GAAP financial measures provide useful information about our financial performance, enhance the overall understanding of our past performance and future prospects and allow for greater transparency with respect to important metrics used by management for financial and operational decision-making. We include these non-GAAP financial measures to present our financial performance using a management view and because we believe that these measures provide an additional comparison of our core financial performance over multiple periods with other companies in our industry.

Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the financial tables accompanying this press release.

Calculated Current Billings: We define calculated current billings, a non-GAAP financial measure, as total revenue recognized in a period plus the change in current deferred revenue in the corresponding period. We believe that calculated current billings is a key metric to measure our periodic performance. Given that most of our customers pay in advance (including multi-year contracts), but we generally recognize the related revenue ratably over time, we use calculated current billings to measure and monitor our ability to provide our business with the working capital generated by upfront payments from our customers. We believe that calculated current billings, which excludes deferred revenue for periods beyond twelve months in a customer’s contractual term, more closely correlates with annual contract value and that the variability in total billings, depending on the timing of large multi-year contracts and the preference for annual billing versus multi-year upfront billing, may distort growth in one period over another.

Free Cash Flow and Unlevered Free Cash Flow: We define free cash flow, a non-GAAP financial measure, as net cash provided by operating activities less purchases of property and equipment and capitalized software development costs. We believe free cash flow is an important liquidity measure of the cash that is available (if any), after purchases of property and equipment and capitalized software development costs, for investment in our business and to make acquisitions. We believe that free cash flow is useful as a liquidity measure because it measures our ability to generate cash. We define unlevered free cash flow as free cash flow plus cash paid for interest and other financing costs. We believe unlevered free cash flow is useful as a liquidity measure as it measures the cash that is available to invest in our business and meet our current debt obligations and future financing needs. However, given our debt obligations, non-cancelable commitments and other contractual obligations, unlevered free cash flow does not represent residual cash flow available for discretionary expenses.

Non-GAAP Income from Operations and Non-GAAP Operating Margin: We define these non-GAAP financial measures as their respective GAAP measures, excluding the effect of stock-based compensation, acquisition-related expenses, restructuring expenses, costs related to the intra-entity asset transfers resulting from the internal restructuring of legal entities, and amortization of acquired intangible assets. Acquisition-related expenses include transaction and integration expenses, as well as costs related to the intercompany transfer of acquired intellectual property. Restructuring expenses include non-ordinary course severance, employee related benefits, and other charges to reorganize business operations. We believe that the exclusion of these expenses provides for a useful comparison of our operating results to prior periods and to our peer companies, which commonly exclude restructuring expenses.

Non-GAAP Net Income and Non-GAAP Earnings Per Share: We define non-GAAP net income as GAAP net loss, excluding the effect of stock-based compensation, acquisition-related expenses, restructuring expenses and amortization of acquired intangible assets, including the applicable tax impacts. In addition, we exclude the tax impact and related costs of intra-entity asset transfers resulting from the internal restructuring of legal entities as well as deferred income tax benefits recognized in connection with acquisitions. We use non-GAAP net income to calculate non-GAAP earnings per share.

Non-GAAP Gross Profit and Non-GAAP Gross Margin: We define non-GAAP gross profit as GAAP gross profit, excluding the effect of stock-based compensation and amortization of acquired intangible assets. Non-GAAP gross margin is defined as non-GAAP gross profit as a percentage of revenue.

Non-GAAP Sales and Marketing Expense, Non-GAAP Research and Development Expense and Non-GAAP General and Administrative Expense: We define these non-GAAP measures as their respective GAAP measures, excluding stock-based compensation, acquisition-related expenses and costs related to intra-entity asset transfers resulting from the internal restructuring of legal entities.

TENABLE HOLDINGS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
	Three Months Ended March 31,
(in thousands, except per share data)	2025			2024
Revenue	$	239,137		$	215,961
Cost of revenue⁽¹⁾		52,460			48,932
Gross profit		186,677			167,029
Operating expenses:
Sales and marketing⁽¹⁾		103,182			99,825
Research and development⁽¹⁾		53,223			43,727
General and administrative⁽¹⁾		47,983			31,018
Restructuring		—			1,389
Total operating expenses		204,388			175,959
Loss from operations		(17,711	)		(8,930	)
Interest income		4,927			5,624
Interest expense		(7,011	)		(8,112	)
Other income (expense), net		474			(1,310	)
Loss before income taxes		(19,321	)		(12,728	)
Provision for income taxes		3,614			1,658
Net loss	$	(22,935	)	$	(14,386	)

Net loss per share, basic and diluted	$	(0.19	)	$	(0.12	)
Weighted-average shares used to compute net loss per share, basic and diluted		120,083			117,542

_______________

⁽¹⁾ Includes stock-based compensation as follows:

	Three Months Ended March 31,
	2025		2024
Cost of revenue	$	3,315	$	2,982
Sales and marketing		16,630		15,300
Research and development		12,967		11,161
General and administrative⁽²⁾		22,991		10,276
Total stock-based compensation	$	55,903	$	39,719

_______________

⁽²⁾ Stock-based compensation in the three months ended March 31, 2025 includes $14.6 million of expense related to the accelerated vesting of equity awards for our late CEO.

TENABLE HOLDINGS, INC. CONSOLIDATED BALANCE SHEETS
	March 31, 2025			December 31, 2024
(in thousands, except per share data)	(unaudited)
Assets
Current assets:
Cash and cash equivalents	$	233,441		$	328,647
Short-term investments		226,836			248,547
Accounts receivable (net of allowance for doubtful accounts of $748 and $525 at March 31, 2025 and December 31, 2024, respectively)		167,793			258,734
Deferred commissions		51,247			51,791
Prepaid expenses and other current assets		67,106			53,026
Total current assets		746,423			940,745
Property and equipment, net		41,343			39,265
Deferred commissions (net of current portion)		65,582			67,914
Operating lease right-of-use assets		40,951			45,139
Acquired intangible assets, net		128,597			94,461
Goodwill		656,481			541,292
Other assets		14,200			13,303
Total assets	$	1,693,577		$	1,742,119

Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses	$	17,684		$	19,981
Accrued compensation		51,432			55,784
Deferred revenue		633,224			650,372
Operating lease liabilities		6,305			6,801
Other current liabilities		6,346			5,154
Total current liabilities		714,991			738,092
Deferred revenue (net of current portion)		175,151			182,815
Term loan, net of issuance costs (net of current portion)		356,068			356,705
Operating lease liabilities (net of current portion)		54,621			56,224
Other liabilities		9,585			8,329
Total liabilities		1,310,416			1,342,165

Stockholders’ equity:
Common stock (par value: $0.01; 500,000 shares authorized; 124,484 and 122,371 shares issued at March 31, 2025 and December 31, 2024, respectively)		1,245			1,224
Additional paid-in capital		1,440,770			1,374,659
Treasury stock (at cost: 4,282 and 2,673 shares at March 31, 2025 and December 31, 2024, respectively)		(174,911	)		(114,911	)
Accumulated other comprehensive income		328			318
Accumulated deficit		(884,271	)		(861,336	)
Total stockholders’ equity		383,161			399,954
Total liabilities and stockholders’ equity	$	1,693,577		$	1,742,119

TENABLE HOLDINGS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
	Three Months Ended March 31,
(in thousands)	2025			2024
Cash flows from operating activities:
Net loss	$	(22,935	)	$	(14,386	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		9,854			8,232
Stock-based compensation		55,903			39,719
Net accretion of discounts and amortization of premiums on short-term investments		(1,180	)		(2,284	)
Amortization of debt issuance costs		349			329
Other		979			1,611
Changes in operating assets and liabilities:
Accounts receivable		92,968			63,437
Prepaid expenses and other assets		(9,875	)		5,216
Accounts payable, accrued expenses and accrued compensation		(8,491	)		(22,017	)
Deferred revenue		(32,507	)		(27,789	)
Other current and noncurrent liabilities		2,342			(1,742	)
Net cash provided by operating activities		87,407			50,326

Cash flows from investing activities:
Purchases of property and equipment		(6,553	)		(665	)
Capitalized software development costs		(624	)		(2,532	)
Purchases of short-term investments		(38,445	)		(77,465	)
Sales and maturities of short-term investments		61,345			65,570
Proceeds from other investments		664			3,512
Business combinations, net of cash acquired		(148,510	)		—
Net cash used in investing activities		(132,123	)		(11,580	)

Cash flows from financing activities:
Payments on term loan		(938	)		(938	)
Proceeds from stock issued in connection with the employee stock purchase plan		9,701			9,884
Proceeds from the exercise of stock options		347			1,874
Purchase of treasury stock		(60,000	)		(24,991	)
Net cash used in financing activities		(50,890	)		(14,171	)
Effect of exchange rate changes on cash and cash equivalents and restricted cash		400			(1,730	)
Net (decrease) increase in cash and cash equivalents and restricted cash		(95,206	)		22,845
Cash and cash equivalents and restricted cash at beginning of period		328,647			237,132
Cash and cash equivalents and restricted cash at end of period	$	233,441		$	259,977

TENABLE HOLDINGS, INC. REVENUE COMPONENTS AND RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (unaudited)
Revenue	Three Months Ended March 31,
(in thousands)	2025		2024
Subscription revenue	$	220,443	$	197,635
Perpetual license and maintenance revenue		11,552		12,156
Professional services and other revenue		7,142		6,170
Revenue⁽¹⁾	$	239,137	$	215,961

_______________

⁽¹⁾ Recurring revenue, which includes revenue from subscription arrangements for software (both recognized ratably over the subscription term and upon delivery) and cloud-based solutions and maintenance associated with perpetual licenses, represented 96% of revenue in the three months ended March 31, 2025 and 2024.

Calculated Current Billings	Three Months Ended March 31,
(in thousands)	2025			2024
Revenue	$	239,137		$	215,961
Deferred revenue (current), end of period		633,224			562,575
Deferred revenue (current), beginning of period⁽¹⁾		(657,001	)		(580,779	)
Calculated current billings	$	215,360		$	197,757

^{________________}
⁽¹⁾ Deferred revenue (current), beginning of period for the three months ended March 31, 2025 includes $6.6 million related to acquired deferred revenue.

Remaining Performance Obligations	March 31,
(in thousands)	2025		2024
Remaining performance obligations, short-term	$	647,647	$	572,851
Remaining performance obligations, long-term		234,598		169,560
Remaining performance obligations	$	882,245	$	742,411

Free Cash Flow and Unlevered Free Cash Flow	Three Months Ended March 31,
(in thousands)	2025			2024
Net cash provided by operating activities	$	87,407		$	50,326
Purchases of property and equipment		(6,553	)		(665	)
Capitalized software development costs		(624	)		(2,532	)
Free cash flow		80,230			47,129
Cash paid for interest and other financing costs		6,574			7,611
Unlevered free cash flow	$	86,804		$	54,740

Free cash flow and unlevered free cash flow for the periods presented were impacted by:

	Three Months Ended March 31,
(in thousands)	2025			2024
Employee stock purchase plan activity	$	(5,413	)	$	(6,332	)
Acquisition-related expenses		(3,189	)		(466	)
Restructuring		—			(3,822	)

Non-GAAP Income from Operations and Non-GAAP Operating Margin	Three Months Ended March 31,
(dollars in thousands)	2025			2024
Loss from operations	$	(17,711	)	$	(8,930	)
Stock-based compensation		55,903			39,719
Acquisition-related expenses		4,621			161
Restructuring		—			1,389
Amortization of acquired intangible assets		5,864			4,669
Non-GAAP income from operations	$	48,677		$	37,008
Operating margin	(7		)%	(4		)%
Non-GAAP operating margin		20	%		17	%

Non-GAAP Net Income and Non-GAAP Earnings Per Share	Three Months Ended March 31,
(in thousands, except per share data)	2025			2024
Net loss	$	(22,935	)	$	(14,386	)
Stock-based compensation		55,903			39,719
Tax impact of stock-based compensation⁽¹⁾		855			(1,077	)
Acquisition-related expenses⁽²⁾		4,621			161
Restructuring⁽²⁾		—			1,389
Amortization of acquired intangible assets⁽²⁾		5,864			4,669
Tax impact of acquisitions		(58	)		(35	)
Non-GAAP net income	$	44,250		$	30,440

Net loss per share, diluted	$	(0.19	)	$	(0.12	)
Stock-based compensation		0.46			0.34
Tax impact of stock-based compensation⁽¹⁾		0.01			(0.01	)
Acquisition-related expenses⁽²⁾		0.04			—
Restructuring⁽²⁾		—			0.01
Amortization of acquired intangible assets⁽²⁾		0.05			0.04
Tax impact of acquisitions		—			—
Adjustment to diluted earnings per share⁽³⁾		(0.01	)		(0.01	)
Non-GAAP earnings per share, diluted	$	0.36		$	0.25

Weighted-average shares used to compute GAAP net loss per share, diluted		120,083			117,542

Weighted-average shares used to compute non-GAAP earnings per share, diluted		124,152			123,266

________________

(1) The tax impact of stock-based compensation is based on the tax treatment for the applicable tax jurisdictions.
(2) The tax impact of acquisition-related expenses, restructuring and the amortization of acquired intangible assets are not material.
(3) An adjustment to reconcile GAAP net loss per share, which excludes potentially dilutive shares, to non-GAAP earnings per share, which includes potentially dilutive shares.

Non-GAAP Gross Profit and Non-GAAP Gross Margin	Three Months Ended March 31,
(dollars in thousands)	2025			2024
Gross profit	$	186,677		$	167,029
Stock-based compensation		3,315			2,982
Amortization of acquired intangible assets		5,864			4,669
Non-GAAP gross profit	$	195,856		$	174,680
Gross margin		78	%		77	%
Non-GAAP gross margin		82	%		81	%

Non-GAAP Sales and Marketing Expense	Three Months Ended March 31,
(dollars in thousands)	2025			2024
Sales and marketing expense	$	103,182		$	99,825
Less: Stock-based compensation		16,630			15,300
Less: Acquisition-related expenses		1,054			—
Non-GAAP sales and marketing expense	$	85,498		$	84,525
Non-GAAP sales and marketing expense % of revenue		36	%		39	%

Non-GAAP Research and Development Expense	Three Months Ended March 31,
(dollars in thousands)	2025			2024
Research and development expense	$	53,223		$	43,727
Less: Stock-based compensation		12,967			11,161
Less: Acquisition-related expenses		1,239			(20	)
Non-GAAP research and development expense	$	39,017		$	32,586
Non-GAAP research and development expense % of revenue		16	%		15	%

Non-GAAP General and Administrative Expense	Three Months Ended March 31,
(dollars in thousands)	2025			2024
General and administrative expense	$	47,983		$	31,018
Less: Stock-based compensation		22,991			10,276
Less: Acquisition-related expenses		2,328			181
Non-GAAP general and administrative expense	$	22,664		$	20,561
Non-GAAP general and administrative expense % of revenue		9	%		10	%

The following adjustments to reconcile forecasted non-GAAP income from operations, non-GAAP net income, non-GAAP earnings per share, free cash flow and unlevered free cash flow are subject to a number of uncertainties and assumptions, each of which are inherently difficult to forecast. As a result, actual adjustments and GAAP results may differ materially.

Forecasted Non-GAAP Income from Operations	Three Months Ending June 30, 2025						Year Ending December 31, 2025
(in millions)	Low			High			Low			High
Forecasted loss from operations	$	(12.0	)	$	(10.0	)	$	(22.0	)	$	(12.0	)
Forecasted stock-based compensation		47.0			47.0			196.0			196.0
Forecasted acquisition-related expenses		1.5			1.5			6.0			6.0
Forecasted amortization of acquired intangible assets		6.5			6.5			25.0			25.0
Forecasted non-GAAP income from operations	$	43.0		$	45.0		$	205.0		$	215.0

Forecasted Non-GAAP Net Income and Non-GAAP Earnings Per Share	Three Months Ending June 30, 2025						Year Ending December 31, 2025
(in millions, except per share data)	Low			High			Low			High
Forecasted net loss⁽¹⁾	$	(20.0	)	$	(18.0	)	$	(53.0	)	$	(43.0	)
Forecasted stock-based compensation		47.0			47.0			196.0			196.0
Forecasted tax impact of stock-based compensation		1.0			1.0			4.0			4.0
Forecasted acquisition-related expenses		1.5			1.5			6.0			6.0
Forecasted amortization of acquired intangible assets		6.5			6.5			25.0			25.0
Forecasted non-GAAP net income	$	36.0		$	38.0		$	178.0		$	188.0

Forecasted net loss per share, diluted⁽¹⁾	$	(0.16	)	$	(0.15	)	$	(0.44	)	$	(0.36	)
Forecasted stock-based compensation		0.39			0.39			1.62			1.62
Forecasted tax impact of stock-based compensation		0.01			0.01			0.03			0.03
Forecasted acquisition-related expenses		0.01			0.01			0.05			0.05
Forecasted amortization of acquired intangible assets		0.05			0.05			0.21			0.21
Adjustment to diluted earnings per share⁽²⁾		(0.01	)		—			(0.03	)		(0.03	)
Forecasted non-GAAP earnings per share, diluted	$	0.29		$	0.31		$	1.44		$	1.52

Forecasted weighted-average shares used to compute GAAP net loss per share, diluted		121.5			121.5			121.0			121.0
Forecasted weighted-average shares used to compute non-GAAP earnings per share, diluted		123.0			123.0			123.5			123.5

________________
(1) The forecasted GAAP net loss assumes income tax expense of $4.1 million and $16.8 million in the three months ending June 30, 2025 and year ending December 31, 2025, respectively.
(2) Adjustment to reconcile GAAP net loss per share, which excludes potentially dilutive shares, to non-GAAP earnings per share, which includes potentially dilutive shares.

Forecasted Free Cash Flow and Unlevered Free Cash Flow	Year Ending December 31, 2025
(in millions)	Low			High
Forecasted net cash provided by operating activities	$	256.0		$	266.0
Forecasted purchases of property and equipment		(15.0	)		(15.0	)
Forecasted capitalized software development costs		(3.0	)		(3.0	)
Forecasted free cash flow		238.0			248.0
Forecasted cash paid for interest and other financing costs		27.0			27.0
Forecasted unlevered free cash flow	$	265.0		$	275.0

The MIL Network –

April 30, 2025

MIL-OSI United Nations: Secretary-General’s remarks to the General Assembly event in Commemoration of His Holiness Pope Francis [trilingual, as delivered; scroll down for All-English and All-French versions]

Source: United Nations secretary general

Excellencies, ladies and gentlemen,

His Holiness Pope Francis was a man of faith — and a bridge-builder among all faiths.

He was a champion of the most marginalized people on earth.

He was a voice of community in a world of division…

A voice of mercy in a world of cruelty…

A voice of peace in a world of war.

And he was a steadfast friend of the United Nations, addressing Member States from this very podium in 2015.

During that historic visit, he also spoke of our organization’s ideal of a “united human family living in harmony, working not only for peace, but in peace, working not only for justice, but in a spirit of justice.”

On behalf of our UN family, I extend by deepest condolences to the Catholic community and to so many others around the world grieving this tremendous loss.

Excellencies,

Pope Francis was at the helm of the Roman Catholic Church for a dozen years — but that was preceded by decades of service and good works.

As a young man, Pope Francis found his calling in the slums of Buenos Aires, where his dedication to serving the poor earned him the title “Bishop of the Slums.”

These early experiences sharpened his conviction that faith must be an engine of action and change.

Pope Francis put that engine into overdrive as an unstoppable voice for social justice and equality.

His 2020 encyclical, Fratelli Tutti, drew a straight line between greed and poverty, hunger, inequality and suffering.

While decrying the inequality that defines our globalized economy, he also warned against what he called “globalization of indifference.”

I will never forget the first official visit he undertook as Pope, at a time when I served as High Commissioner for Refugees.

Pope Francis chose to go to the Mediterranean island of Lampedusa in 2013 — to put a global spotlight on the desperate plight of asylum seekers and migrants.

He warned against “the culture of comfort, which makes us think only of ourselves, makes us insensitive to the cries of other people.”

And on last year’s World Refugee Day, he called on all countries “to welcome, promote, accompany and integrate those who knock on our doors.”

When I met with him at the Vatican as Secretary-General in 2019, I was struck by his humanity and his humility.

He always saw challenges through the eyes of those on the peripheries of life.

And he said we can never look away from injustice and inequality — or close our eyes to those suffering from conflict or acts of violence.

Always a pilgrim for peace, Pope Francis ventured to war-torn countries around the world — from Iraq to South Sudan to the Democratic Republic of Congo and beyond — decrying bloodshed and violence, and pushing for reconciliation.

He stood with conviction for innocents caught in war zones such as Ukraine and Gaza.

He did it with his global platform — but he also did it in much more personal and profound ways.

Every day without fail, precisely at 7:00 p.m., he would quietly call the Church of the Holy Family in Gaza City.

As someone at the Church said, “He would ask us how we were, what did we eat, did we have clean water, was anyone injured? It was never diplomatic or a matter of obligation. It was the questions a father asks to their son.”

And in his final message on Easter Sunday, Pope Francis underscored the vital importance of ending these conflicts.

Jusqu’au bout, le pape François aura incarné l’appel à la justice – pour les peuples et pour la planète.

Grâce à son encyclique Laudato Si publiée en 2015, il a contribué à l’adoption de l’Accord de Paris en appelant les dirigeants à protéger « notre maison commune ».

Il a également mis en évidence les liens manifestes entre la dégradation de l’environnement et la dégradation de la condition humaine.

Le pape François comprenait que ceux qui avaient le moins contribué à la crise climatique en subissaient les conséquences les plus graves – et que nous avons le devoir spirituel et moral d’agir.

Excelencias:

En el mundo actual de división y discordia, es particularmente significativo que el Papa Francisco haya proclamado 2025 como el año de la esperanza.

Él fue siempre un mensajero de esperanza.

Ahora nos corresponde a todos nosotros llevar adelante esta esperanza.

En su funeral del sábado, me conmovió profundamente ver a líderes de todas las religiones y tendencias políticas unirse en solidaridad para honrar la vida y los logros del Papa Francisco – un raro espíritu de unidad y reflexión solemne que necesitamos ahora más que nunca.

Nuestro mundo sería un lugar mucho mejor si siguiéramos su ejemplo de unidad, compasión y comprensión mutua a través de nuestras propias palabras y acciones.

Mientras lloramos la muerte del Papa Francisco, renovemos nuestro compromiso con la paz, la dignidad humana y la justicia social – las causas a las que dedicó cada momento de su extraordinaria vida.

Muchas gracias.

***
[All-English]

Excellencies, ladies and gentlemen,

His Holiness Pope Francis was a man of faith — and a bridge-builder among all faiths.

He was a champion of the most marginalized people on earth.

He was a voice of community in a world of division…

A voice of mercy in a world of cruelty…

A voice of peace in a world of war.

And he was a steadfast friend of the United Nations, addressing Member States from this very podium in 2015.

During that historic visit, he also spoke of our organization’s ideal of a “united human family living in harmony, working not only for peace, but in peace, working not only for justice, but in a spirit of justice.”

On behalf of our UN family, I extend by deepest condolences to the Catholic community and to so many others around the world grieving this tremendous loss.

Excellencies,

Pope Francis was at the helm of the Roman Catholic Church for a dozen years — but that was preceded by decades of service and good works.

As a young man, Pope Francis found his calling in the slums of Buenos Aires, where his dedication to serving the poor earned him the title “Bishop of the Slums.”

These early experiences sharpened his conviction that faith must be an engine of action and change.

Pope Francis put that engine into overdrive as an unstoppable voice for social justice and equality.

His 2020 encyclical, Fratelli Tutti, drew a straight line between greed and poverty, hunger, inequality and suffering.

While decrying the inequality that defines our globalized economy, he also warned against what he called “globalization of indifference.”

I will never forget the first official visit he undertook as Pope, at a time when I served as High Commissioner for Refugees.

Pope Francis chose to go to the Mediterranean island of Lampedusa in 2013 — to put a global spotlight on the desperate plight of asylum seekers and migrants.

He warned against “the culture of comfort, which makes us think only of ourselves, makes us insensitive to the cries of other people.”

And on last year’s World Refugee Day, he called on all countries “to welcome, promote, accompany and integrate those who knock on our doors.”

When I met with him at the Vatican as Secretary-General in 2019, I was struck by his humanity and his humility.

He always saw challenges through the eyes of those on the peripheries of life.

And he said we can never look away from injustice and inequality — or close our eyes to those suffering from conflict or acts of violence.

Always a pilgrim for peace, Pope Francis ventured to war-torn countries around the world — from Iraq to South Sudan to the Democratic Republic of Congo and beyond — decrying bloodshed and violence, and pushing for reconciliation.

He stood with conviction for innocents caught in war zones such as Ukraine and Gaza.

He did it with his global platform — but he also did it in much more personal and profound ways.

Every day without fail, precisely at 7:00 p.m., he would quietly call the Church of the Holy Family in Gaza City.

As someone at the Church said, “He would ask us how we were, what did we eat, did we have clean water, was anyone injured? It was never diplomatic or a matter of obligation. It was the questions a father asks to their son.”

And in his final message on Easter Sunday, Pope Francis underscored the vital importance of ending these conflicts.

Throughout, Pope Francis was a clear voice of justice for people and planet.

He helped secure the adoption of the Paris Agreement with his 2015 encyclical Laudato Si that called on leaders to protect “our common home.”

He also highlighted the clear ties between environmental degradation and the degradation of humanity.

Pope Francis understood that those who contributed the least to the climate crisis suffered the most — and that we have a spiritual and moral duty to act.

Excellencies,

In today’s world of division and discord, it is particularly meaningful that Pope Francis proclaimed 2025 to be the year of hope.

He was forever a messenger of hope.

Now it falls to all of us to carry this hope forward.

At his funeral on Saturday, I was deeply moved to see leaders from across all faiths and political stripes come together in solidarity to honour the life and achievements of Pope Francis — a rare spirit of unity and solemn reflection that we need now, more than ever.
Our world would be a much better place if we followed his lifelong example of unity, compassion and mutual understanding through our own words and actions.

As we mourn the passing of Pope Francis, let us renew our pledge to peace, human dignity and social justice — the causes for which he dedicated every moment of his most extraordinary life.

Thank you.

***
[All-French]

Excellences, Mesdames et Messieurs,

Sa Sainteté le pape François était un homme de foi – et un bâtisseur de ponts entre toutes les religions.

Il s’était fait le champion des personnes les plus marginalisées sur Terre.

Il était une voix de solidarité dans un monde de clivages…

Une voix de compassion dans un monde de cruauté…

Une voix de paix dans un monde de guerre.

C’était aussi un grand ami de l’Organisation des Nations Unies et il s’était exprimé en 2015 devant les États Membres depuis cette même tribune.

Lors de cette visite historique, il avait évoqué l’idéal de notre Organisation, à savoir « une famille humaine unie, vivant en harmonie, travaillant non seulement pour la paix, mais dans la paix ; travaillant non seulement pour la justice, mais dans un esprit de justice. »

Au nom de notre famille, celle des Nations Unies, j’adresse mes plus sincères condoléances à l’ensemble des catholiques et aux nombreuses autres personnes qui, partout dans le monde, souffrent de cette terrible perte.

Excellences,

Le pape François a été à la tête de l’Église catholique romaine pendant 12 ans, mais son pontificat a été précédé par des décennies de service et de bonnes œuvres.

Jeune homme, il a trouvé sa vocation dans les quartiers défavorisés de Buenos Aires, où son dévouement au service des pauvres lui a ensuite valu le titre « d’évêque des bidonvilles ».

Ces premières expériences ont renforcé sa conviction que la foi devait être un moteur d’action et de changement.

Restant fidèle à cette conviction, il a défendu sans relâche la cause de la justice sociale et de l’égalité.

Dans son encyclique de 2020, Fratelli Tutti, François a établi un lien direct entre la cupidité, d’une part, et la pauvreté, la faim, l’inégalité et la souffrance, d’autre part.

Tout en dénonçant les inégalités qui caractérisent notre économie mondialisée, il a également mis en garde contre ce qu’il appelait la « mondialisation de l’indifférence ».

Je n’oublierai jamais sa première visite officielle en tant que pape, à une époque où j’étais Haut‑Commissaire pour les réfugiés.

En 2013, François avait choisi de se rendre sur l’île méditerranéenne de Lampedusa pour appeler l’attention du monde entier sur la situation désespérée des demandeurs d’asile et des migrants.

Il avait alors mis en garde contre « la culture du bien-être, qui nous amène à penser à nous-même, nous rend insensibles aux cris des autres ».

L’année dernière, à l’occasion de la Journée mondiale des réfugiés, il a exhorté tous les pays à « accueillir, promouvoir, accompagner et intégrer ceux qui frappent à nos portes ».

Quand je l’ai rencontré au Vatican en 2019 en ma qualité de Secrétaire général, j’ai été frappé par son humanité et son humilité.

Il voyait toujours les problèmes à travers les yeux de celles et ceux qui sont relégués aux périphéries.

Il disait qu’il ne fallait jamais détourner le regard de l’injustice et de l’inégalité, ni fermer les yeux sur celles et ceux qui subissent les conséquences d’un conflit ou d’actes de violence.

Infatigable pèlerin de la paix, le pape François s’est rendu dans des pays déchirés par la guerre – de l’Iraq au Soudan du Sud, en passant par la République démocratique du Congo – pour dénoncer la violence et les affrontements sanglants et prôner la réconciliation.

Il défendait avec conviction les innocents qui se trouvent dans des zones de guerre, comme en Ukraine et dans la bande de Gaza.

Il le faisait depuis sa tribune, mais aussi à un niveau beaucoup plus personnel.

Tous les jours sans exception, à 19 heures précises, il se retirait pour appeler l’église de la Sainte-Famille, à Gaza.

L’un de ses interlocuteurs a raconté ces conversations : « François nous demandait : “comment allez-vous ? Qu’avez-vous mangé ? Avez-vous de l’eau ? Y-a-t-il des blessés parmi vous ?” Il ne le faisait pas pour des raisons diplomatiques ou par obligation. C’était le genre de questions qu’un père aurait posées ».

Et, dans son tout dernier message, le dimanche de Pâques, le pape François a souligné à quel point il était vital de mettre fin à tous ces conflits.

Jusqu’au bout, le pape François aura incarné l’appel à la justice – pour les peuples et pour la planète.

Grâce à son encyclique Laudato Si publiée en 2015, il a contribué à l’adoption de l’Accord de Paris en appelant les dirigeants à protéger « notre maison commune ».

Il a également mis en évidence les liens manifestes entre la dégradation de l’environnement et la dégradation de la condition humaine.

Le pape François comprenait que ceux qui avaient le moins contribué à la crise climatique en subissaient les conséquences les plus graves – et que nous avons le devoir spirituel et moral d’agir.

Excellences,

Dans ce monde de division et de discorde, le fait que le pape François ait proclamé 2025 année de l’espérance revêt une signification particulière.

Il aura été jusqu’au bout un messager de l’espérance.

Et c’est à nous qu’il revient maintenant de continuer de faire vivre cette espérance.

À ses funérailles, samedi, j’ai été profondément ému de voir des dirigeants de toutes confessions et toutes tendances politiques réunis dans la solidarité pour rendre hommage à la vie et à l’œuvre du pape François, dans un esprit d’unité et de réflexion solennelle rares dont nous avons plus que jamais besoin aujourd’hui.

Notre monde serait bien meilleur si nous suivions, dans nos propres paroles et actions, l’exemple d’unité, de compassion et de compréhension mutuelle qu’il a donné tout au long de sa vie.

Que ce deuil soit l’occasion de renouveler notre engagement en faveur de la paix, de la dignité humaine et de la justice sociale, causes pour lesquelles le pape François a consacré chaque instant d’une vie pour le moins extraordinaire.

Je vous remercie.

MIL OSI United Nations News –

April 30, 2025
MIL-OSI USA: Van Orden Statement on President Trump’s First 100 Days

Source: United States House of Representatives – Congressman Derrick Van Orden (Wisconsin 3rd)

WASHINGTON, D.C. – Today, Congressman Derrick Van Orden (WI-03) released the following statement on President Trump’s first 100 days in office:

“Over 77 million Americans and 1.7 million Wisconsinites put their trust in President Trump to get our nation back on the right track after four years of disastrous policy from the Biden administration. In just 100 days, President Trump has delivered on his promises to the American people.

“Our borders are secure and over 100,000 illegal aliens have been deported. The first bill President Trump signed into law was the Laken Riley Act to require illegal aliens who commit crimes in the U.S. be detained instead of released back into our communities and put Americans at risk.

“He has reopened domestic energy production, rescinding every one of the Biden administration’s job-killing, America-last “green” environmental policies.

“After decades of being taken advantage of by our foreign trade partners, the president is putting America’s workers first and leveling the playing field for our farmers, manufacturers, and producers. Investments are being made, and jobs are returning to the U.S. at record pace.

“He has saved taxpayers billions by cutting wasteful and fraudulent programs within the federal government and is working to ensure Americans can keep more of their hard earned dollars and provide for their families.

“I am proud of the work accomplished thus far and look forward to working in Congress to further advance President Trump’s America First Agenda.”

MIL OSI USA News –

April 30, 2025
MIL-Evening Report: Willis warns of a ‘tight’ budget to come, but NZ should be going for productivity, not austerity

Source: The Conversation (Au and NZ) – By Dennis Wesselbaum, Associate Professor, Department of Economics, University of Otago

Hagen Hopkins/Getty Images

Finance Minister Nicola Willis has warned her 2025 “Growth Budget” will be “one of the tightest budgets in a decade”, with plans to reduce spending by billions.

It’s clear New Zealand is following a global trend towards austerity by focusing on reducing government spending and lowering government debt.

Complicating the economic picture for the government are Donald Trump’s tariffs and his trade war with China. In early April, financial services company J.P. Morgan Research said there was a 60% probability of the United States experiencing a recession in 2025 — with a 40% chance of a global recession.

Despite this uncertain economic future, the idea that New Zealand’s debt-to-GDP ratio requires immediate and drastic austerity-like measures is not supported by the evidence.

The ratio measures the government’s debt compared to its gross domestic product (GDP). Currently, New Zealand’s ratio is about 47%. This is substantially higher than before the pandemic (32% in 2019) and higher than Australia (35%).

But it is at the lower end compared with other advanced economies. The 2023 debt-to-GDP ratio in the US was 112%, 101% in the United Kingdom, and about 50% in Canada, Ireland and South Korea.

Rather than tightening the belt to reduce debt and increase fiscal balance, New Zealand needs to focus on boosting productivity, investing in education, building strong and resilient infrastructure and supporting health and wellbeing.

Lowering debt and creating fiscal space are legitimate goals. But they should be viewed as a means to an end, not an end in itself.

A necessary medicine

Austerity is often presented as necessary medicine during an economic crisis. The logic is seemingly straightforward: reduce government spending and debt to not overstimulate the economy, create fiscal resilience for future shocks, support low and stable inflation, and signal fiscal responsibility to international markets.

Several countries adopted austerity measures in response to high deficits following the global financial crisis.

Greece implemented deep spending cuts, tax hikes and pension reforms under the terms of a bailout from the European Union and International Monetary Fund (IMF). This reduced its deficit but caused a severe economic contraction and social unrest.

Spain similarly cut public wages, raised taxes and reformed pensions, stabilising its finances but causing persistently high unemployment.

Italy’s austerity measures involved pension reforms and tax hikes, achieving modest fiscal improvement but sparking political instability.

The UK focused on reducing public spending and welfare support, significantly lowering its deficit while putting pressure on public services and increasing inequality. Research found UK’s austerity measures led to hundreds of thousands of avoidable deaths.

While in many cases austerity helped restore fiscal balance, it often came with heavy economic and social costs, particularly in terms of unemployment, growth and public welfare.

In March, people in the United Kingdom took to the streets to protest ongoing austerity measures.
Mike Kemp/Getty Images

Productivity is the key

Research indicates that debt-to-GDP ratios above about 80% tend to be associated with lower growth. But below this threshold, the ratio tends to be associated with increases in growth.

It is clear that deficits are neither always bad for economic growth, nor that they always lead to inflation, when combined with a credible fiscal strategy to return to surpluses in the future.

To raise the future wellbeing of all New Zealanders we need to avoid the heavy costs of austerity and rather focus on stimulating economic growth. And this comes with a price tag.

Using debt to finance investments into capital, which in turn increases our productivity, is key to fostering economic growth. This goes hand-in-hand with targeted industrial policies, reduction in regulation, increases in government efficiency and trade liberalisation

Importantly, public investment boosts economic growth mainly through two channels: efficiency (how much infrastructure is actually delivered for the money spent) and productivity (how well that infrastructure supports economic activity).

Research from the IMF suggests an increase in public investment of one percentage point of GDP is associated with an increase in output of about 0.2% in the same year and 1.2% four years later.

All-of-government focus

What New Zealand needs is a long-term growth strategy and an all-of-government focus on lifting productivity. This must be grounded in fiscal responsibility – one that boosts government efficiency. But not at the cost of delaying high-impact investments or leaving growth opportunities on the table.

Maintaining discipline while strategically investing in the drivers of long-term prosperity is essential for securing New Zealand’s economic future.

The path ahead requires careful navigation, not a rush towards austerity.

By thoughtfully balancing the need for fiscal prudence with the importance of investing in our productivity, human capital and infrastructure, we can ensure a more resilient and prosperous future for all New Zealanders.

Dennis Wesselbaum 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. Willis warns of a ‘tight’ budget to come, but NZ should be going for productivity, not austerity – https://theconversation.com/willis-warns-of-a-tight-budget-to-come-but-nz-should-be-going-for-productivity-not-austerity-254689

MIL OSI Analysis – EveningReport.nz –

April 30, 2025
MIL-OSI Asia-Pac: MNRE Minister Pralhad Joshi launches Green Hydrogen Certification scheme
Source: Government of India

MNRE Minister Pralhad Joshi launches Green Hydrogen Certification scheme

MNRE organizes Workshop on opportunities for MSMEs in Green Hydrogen Supply Chain

Posted On: 29 APR 2025 6:17PM by PIB Delhi

The Ministry of New and Renewable Energy (MNRE) organized on 29^th April 2025 one-day National Workshop on opportunities for “Micro, Small & Medium Enterprises (MSMEs) in the Green Hydrogen Supply Chain”, at New Delhi. The workshop was aimed to explore opportunities and discuss key role of MSMEs in development of green hydrogen ecosystem in India. Over 300 delegates drew participation from different stakeholder groups, including MSMEs, policymakers, technology providers, industry associations, and international partners.

Delivering the inaugural address, Shri Pralhad Venkatesh Joshi, Hon’ble Union Minister of New and Renewable Energy, highlighted the government’s commitment to fostering innovation-led growth and emphasized that MSMEs will serve as the backbone of India’s energy transition through their innovative capabilities and localized solutions. He highlighted the critical role MSMEs will play in realizing the Mission’s objectives of building a self-reliant green hydrogen ecosystem by 2030.

Hon’ble Union Minister also launched the Green Hydrogen Certification Scheme of India (GHCI). He mentioned that the scheme is a foundational step towards creating a robust framework for certifying green hydrogen production and ensuring transparency, traceability, and market credibility.

Shri Santosh Kumar Sarangi, Secretary, MNRE highlighted some key achievements in the implementation of National Green Hydrogen Mission. He stressed upon the importance of building capacities, facilitating finance, and strengthening technology linkages to empower MSMEs to meaningfully participate in this new industrial landscape. He reiterated the Ministry’s commitment to building institutional and infrastructural support for green hydrogen, with MSMEs playing a critical role.

The workshop included four focused technical sessions as follows:
1. Technology Collaboration for MSMEs
Panelists deliberated on R&D collaboration models, indigenization of components such as bipolar plates and electrolysers, and the role of knowledge institutions.
1. Business Opportunities in the Green Hydrogen Supply Chain
Discussions centered on the integration of MSMEs into large-scale projects. Experts from international agencies and corporate leaders outlined business models and market opportunities, advocating for systematic MSME engagement strategies.
1. Decentralized Hydrogen Production through Biomass
Expert speakers presented use cases on thermochemical and biochemical conversion of biomass to hydrogen, exploring their application in rural industries. The session highlighted the potential of decentralized models to meet local demand while promoting circular economy principles.
1. Catalyzing Investments in the Green Hydrogen Ecosystem
Financial institutions, including the World Bank, IREDA, KfW, and IIFCL, discussed de-risking strategies, blended finance mechanisms, and the need to design green credit lines accessible to MSMEs.

The workshop marked an important step towards mainstreaming MSMEs in India’s clean energy transition and showed MNRE’s commitment towards building an inclusive, technology-driven, and decentralized green hydrogen economy. The workshop saw active participation from MSMEs, who showed strong interest in entering the green hydrogen sector, particularly in areas such as component manufacturing, operations and maintenance services, and rural hydrogen generation. Participants emphasized the need for standardized protocols, shared platforms for joint innovation, and the formation of Green Hydrogen Clusters to help MSMEs combine capacities and benefit from economies of scale. The discussions also highlighted the importance of clear demand signals and long-term policy stability to encourage private investment. Experts noted India’s strong potential to emerge as a manufacturing hub for green hydrogen technologies, especially electrolysers and fuel cells.

The Government of India is implementing the National Green Hydrogen Mission, with an objective to make India a global hub of production, usage and export of Green Hydrogen and its derivatives.

The Mission will result in the following likely outcomes by 2030:
1. Development of Green Hydrogen production capacity of at least 5 MMT (Million Metric Tonne) per annum with an associated renewable energy capacity addition of about 125 GW in the country
2. Over Rs. Eight lakh crore in total investments
3. Creation of over Six lakh jobs
4. Cumulative reduction in fossil fuel imports over Rs. One lakh crore
5. Abatement of nearly 50 MMT of annual greenhouse gas emissions
******

TPJ/NJ

(Release ID: 2125231) Visitor Counter : 29

MIL OSI Asia Pacific News –
April 30, 2025
MIL-OSI Asia-Pac: India Post Partners with SBI Mutual Fund to Streamline KYC Verification Services for Investors across India

Source: Government of India

Posted On: 29 APR 2025 5:41PM by PIB Delhi

In a landmark initiative aimed at simplifying the customer on-boarding process for mutual fund investors, the Department of Posts (DoP) has entered into a strategic partnership with SBI Funds Management Limited (SBIFM), a prominent asset management company. The collaboration, formalized through a Memorandum of Understanding (MoU), will leverage India Post’s extensive network to provide doorstep KYC verification services for investors of SBI Mutual Fund. This initiative aims to streamline the KYC process, ensuring convenience, security, and regulatory compliance for investors across India.

The MoU was officially signed between the Ms. Manisha Bansal Badal, General Manager, Business Development Directorate, Department of Posts, and Sh. Munish Sabharwal, Senior Vice President, SBI Funds Management Limited, in a ceremony held at Dak Bhawan, New Delhi.

India Post, with its vast network of over 1.64 lakh post offices spread across even the remotest corners of the country, is uniquely positioned to support initiatives aimed at financial inclusion. With post offices in urban areas, rural towns, remote villages, and even areas with limited access to other financial services, the Department of Posts has the unparalleled reach to assist with customer service requirements, including KYC verification.

As part of the MoU, India Post will facilitate the completion of KYC formalities for SBI Mutual Fund investors by collecting the necessary forms and documents from investors across the country. The KYC documents will be collected by India Post’s trained personnel, ensuring a high level of security, accuracy, and privacy in the process.

By leveraging India Post’s nationwide network, this partnership will ensure that investors, regardless of their location, can easily complete the KYC process. This will be particularly beneficial for investors in rural, underserved, and far-flung areas who often face challenges in accessing traditional financial services. The door-to-door KYC service will offer immense convenience to investors, allowing them to complete the entire process from the comfort of their homes. This is particularly advantageous for senior citizens, individuals with mobility challenges, or those living in remote areas, where access to physical banking services is limited.

This collaboration directly supports the Government of India’s Jan Nivesh initiative, which aims to increase financial inclusion and encourage more people to participate in India’s capital markets. It also contributes to the ongoing efforts to digitize financial services under the Digital India program. With India Post’s trusted network, this partnership will help demystify the KYC process and provide a gateway for individuals, particularly in rural and semi-urban areas, to engage with investment products such as mutual funds. By offering KYC services at the doorstep, the initiative also plays a crucial role in educating the masses about the importance of compliance with financial regulations.

India Post’s role in facilitating KYC verifications has been demonstrated through its successful collaboration with other mutual fund companies, including UTI Mutual Fund and SUUTI (Securities and Exchange Board of India’s public fund). In these partnerships, India Post successfully handled over 5 lakh KYC verifications in a short period, showcasing its ability to manage high-volume operations with precision, security, and efficiency.

India Post is actively exploring new avenues for collaboration with both public and private sector organizations in the financial services sector. With its strong infrastructure, trained workforce, and credibility, India Post is well-positioned to play a larger role in promoting financial literacy, digital on-boarding, and investment participation among the Indian populace.

*****

Samrat/Allen:

(Release ID: 2125220) Visitor Counter : 66

MIL OSI Asia Pacific News –

April 30, 2025
MIL-OSI Asia-Pac: Digital Policy Office leads I&T industry delegation to visit Fuzhou (with photos)

Source: Hong Kong Government special administrative region

Digital Policy Office leads I&T industry delegation to visit Fuzhou
The exhibits in the Hong Kong Pavilion mainly come from award-winning projects in local and international I&T competitions, including the Hong Kong ICT Awards, Maker in China SME Innovation and Entrepreneurship Global Contest – Hong Kong Chapter, the Hong Kong/Shanghai Co-operation Open Data Challenge, and the Asia Pacific Information and Communications Technology Alliance Awards. They cover a wide range of cutting-edge technology fields, such as big data analysis, AI, blockchain, cloud computing and the Internet of Things. The applications of the exhibits are broad, spanning finance, healthcare, smart site management and digital entertainment, highlighting Hong Kong’s deep integration of the digital economy with the real economy, as well as high-quality development of new quality productive forces.

Addressing the opening ceremony of the Hong Kong Pavilion yesterday morning, Mr Wong said that this year marks the first time for the DPO to lead a delegation to showcase technology at the Summit’s Hong Kong Pavilion. The exhibition not only provides a valuable opportunity for Hong Kong’s I&T industry, allowing the Mainland I&T industry and investors to gain an in-depth understanding of Hong Kong’s excellent services and leading products, but also helps Hong Kong enterprises tap into the enormous Mainland market and its diverse business opportunities. In addition, the exhibition showcases the remarkable innovative capabilities of Hong Kong’s I&T industry, highlighting the city’s potential to integrate into the overall I&T development of the country.

Yesterday afternoon, Mr Wong visited the Fujian Artificial Intelligence Computing Center to gain an in-depth understanding of the Center’s facilities and technology applications, as well as the status of its support for the development of the AI industry. He then visited the Fujian Big Data Trading Center to learn about the Center’s experiences and practices in promoting the development of the data trading business. Finally, he visited China Unicom’s Fuzhou Smart Cloud Data Center to learn how the enterprise built a green and low-carbon data centre with high computing power and high security, as well as its latest technology deployment in promoting “Hong Kong data stored in Fujian, Hong Kong data computed in Fujian”.

Yesterday evening, Mr Wong attended the Digital China AI City Summit organised by Huawei Technologies Co, Ltd. He shared the latest developments in AI applications by the Hong Kong Special Administrative Region Government, as well as the Hong Kong Generative Artificial Intelligence Technical and Application Guideline released by the DPO on April 15, showcasing Hong Kong’s proactive measures in promoting the development of digital government and AI.

Mr Wong attended the opening ceremony of the Summit this morning (April 29). The Summit, under the theme “Digital Intelligence Leads High-quality Development”, was co-organised by the National Development and Reform Commission, the National Data Administration, the Cyberspace Administration of China (CAC), the Ministry of Industry and Information Technology and the Fujian Provincial People’s Government, and undertaken by the Fuzhou Municipal People’s Government and relevant units. In the afternoon, Mr Wong attended a sub-forum on e-government services, hosted by the CAC, where he delivered a keynote speech on strategies for enhancing public services through digital empowerment in Hong Kong.

Mr Wong concluded his visit today and returned to Hong Kong in the evening.
Issued at HKT 19:26

NNNN

CategoriesMIL-OSI

MIL OSI Asia Pacific News –

April 30, 2025
MIL-OSI Asia-Pac: Findings of the Forward-Looking Survey on Private Sector CAPEX Investment Intentions
Source: Government of India

Findings of the Forward-Looking Survey on Private Sector CAPEX Investment Intentions
(Survey period: November 2024 to January 2025)

Private Corporate Sector CAPEX: Three-Year Trends and Future Outlook:

Posted On: 29 APR 2025 4:16PM by PIB Delhi

Key findings:
- The average Gross Fixed Assets per enterprise in the private corporate sector increased from ₹3,151.9 crore in 2021–22 to ₹3,279.4 crore in 2022–23 (4% growth), and further to ₹4,183.3 crore in 2023–24, reflecting a significant 27.5% growth.
- The estimated CAPEX per enterprise for the years 2021–22, 2022–23, and 2023–24 was ₹109.2 crore, ₹148.8 crore and ₹107.6 crore respectively.
- The estimated provisional capital expenditure per enterprise for purchasing new assets in 2024–25 is ₹172.2 crore.
- Overall increase of 66.3% in aggregate CAPEX (unweighted) over the four-year period from 2021-22 to 2024-25.
- The strategy of 40.3% of enterprises is to undertake CAPEX on core assets during 2024–25, followed by 28.4% to invest in value addition to existing assets
Survey Background:

In 2022–23, the Parliamentary Standing Committee recommended that the Ministry of Statistics and Programme Implementation (MoSPI) develop a comprehensive methodology to capture capital expenditure (CAPEX) data from the private sector. Survey instruments designed to capture data on past investments, projected CAPEX for the next two years, and the breakdown of investments by asset type were developed in alignment with the specifications of the Department of Economic Affairs (DEA), Ministry of Finance.

Responding to this recommendation, the National Statistical Office (NSO) conducted the inaugural Forward-Looking Survey on Private Sector CAPEX Investment Intentions between November 2024 and January 2025. This marked the first initiative of MoSPI to engage the corporate sector through a self-administered, web-based survey platform, supported by chatbot assistance, to collect structured CAPEX data. MoSPI has released the findings of the survey in the form of a comprehensive booklet. A brief overview of key aspects, such as survey coverage, sampling methodology, and data collection process, is included in the Endnote.

The primary objective of the CAPEX survey is to estimate the CAPEX trends of private corporate sector enterprises from the past three financial years (2021-22, 2022-23 & 2023-24) along with anticipated capital expenditure for the current year (2024-25) and upcoming financial years (2025-26).

Key advantages of the Survey:

Capital expenditure (CAPEX) plays a crucial role in contributing to national investment and enhancing the stock of physical assets within the economy. It leads to the creation of long-term assets, which not only generate revenue for many years but also improve the overall operational efficiency of economic activities. CAPEX is fundamental to expanding production capacity, thereby serving as a catalyst for accelerated economic growth. This growth, in turn, supports job creation and enhances labour productivity.

Comprehensive data on CAPEX will be a valuable asset for a wide range of stakeholders, including government departments, private enterprises, trade associations, researchers, and other relevant entities. It will enable evidence-based policy formulation through the analysis of trends in future investments. Furthermore, a clear understanding of CAPEX patterns and scale can assist enterprises in making strategic, data-driven investment decisions, guided by the insights derived from survey findings.

Important Caveat:

In this inaugural edition of the survey, industry participation varied, with an overall response rate of 58.3% (58.6% in the census sector and 57.2% in the sample sector). Respondents appeared cautious in disclosing CAPEX plans, often pending management approvals. Certain entities, such as Special Purpose Vehicles (SPVs) involved in infrastructure projects, were excluded from the survey frame as they report no turnover despite high CAPEX. Meanwhile, some included SPVs had no future investment plans due to project completion. As this is the first round of the survey, the findings may be seen as indicative and subject to refinement in future iterations. It is also important to note that the results reflect responses from larger enterprises above specified turnover thresholds and may not represent the entire private corporate sector. Users are advised to interpret the results keeping these limitations in mind.

Insights and Way Forward for Future Survey Conduct

The Forward-Looking Survey on Private Sector Capex Investment Intentions, the first of its kind by the NSO, was conducted under the Collection of Statistics Act, 2008. Notices were issued to selected enterprises, explaining the survey’s objectives and assuring confidentiality. However, some enterprises questioned the legitimacy of notices containing portal credentials, leading to multiple cyber risk concerns. Explaining portal usage and submission procedures over the phone was challenging. Data analysis revealed issues such as incorrect unit entries (e.g., Rupees instead of Rupees thousands) and non-responses to follow-up queries. Enterprises also faced difficulties in selecting correct NIC codes and estimating future investments when official data was unavailable.

CAPEX tends to rise when enterprises pursue growth strategies rather than maintain current operations. Despite challenges like weak demand, geopolitical tensions, and high borrowing costs, about 30% of firms plan to invest in upgradation in 2024–25, supporting the sharp increase in CAPEX for that year. The slightly lower intended CAPEX for 2025–26, though still above 2023–24 levels, reflects cautious planning after a strong 2024–25. Overall, the trend indicates growing corporate confidence and a judicious approach to investment amid improving economic certainty.

While the response rate and results were generally promising, this initial round of the survey can be considered as an experimental phase, providing valuable insights to refine the questionnaire, methodology, estimation processes, and overall implementation. The lessons learned will guide improvements for future surveys, with necessary adjustments to various aspects of the survey process. Moving forward, responding enterprises will be engaged more proactively before the survey, with concerns about the authenticity of the online survey being addressed, assistance provided in understanding the questionnaire, confidentiality of individual responses ensured, and field personnel deployed to support enterprises in overcoming technical and conceptual challenges in completing future-oriented surveys. Additionally, the survey will incorporate qualitative inputs, such as reasons for year-on-year changes in investment, to gain deeper insights into enterprise-level CAPEX intentions and trends. The next round of the CAPEX survey is expected to be conducted during October to December 2025.

Key highlights from the CAPEX results:

Aggregated (Unweighted, i.e. without applying any multiplier) CAPEX during (2021-22 to 2025-26)

A total of 2,172 enterprises submitted complete information for all five years of the reference period, forming a fixed panel. The aggregated (unweighted) CAPEX data from this panel of enterprises serves as a reliable basis for analyzing capital expenditure trends over the five-year period, as presented below. The results show an overall increase of 66.3% in aggregate CAPEX (unweighted) over the four-year period from 2021-22 to 2024-25.:

(in ₹ Crore)

Actual CAPEX in 2021-22

Actual CAPEX 2022-23

Actual CAPEX 2023-24

Intended CAPEX in 2024-25

Intended CAPEX in 2025-26

394,681.5

572,199.7

422,183.3

656,492.7

488,865.5

Out of the 3,064 responding enterprises, 2,172 reported their Capex intentions for 2025–26. The data indicates a cautious approach by respondents in declaring their capital expenditure plans. Therefore, the Capex data for 2025–26 should be interpreted with caution, considering the conservative approach and apprehension shown by the responding enterprises in reporting these figures. However, the results show an overall increase of 23.9% in aggregate CAPEX (unweighted) during 2021-22 to 2025-26 for this fixed panel of 2,172 enterprises.

Estimated Key Indicators for past years (2021-22 to 2023-24) by Industry of Activity as per National Industry of Classification (Activity Categories)

The average Gross Fixed Asset (GFA) per enterprise in the private corporate sector was estimated at ₹3,151.9 crore in 2021–22. It increased by 4.0% to ₹3,279.4 crores in 2022–23, and further grew by 27.5% to reach ₹4,183.3 crore in 2023–24.

The highest GFA per enterprise, exceeding ₹14,000 crore, was observed in the industry category ‘Electricity, Gas, Steam, and Air Conditioning Supply’, followed by ‘Manufacturing” enterprises (₹7,000 crore to ₹10,000 crore). Enterprises principally engaged in manufacturing activities accounted for more than 65% of the total Gross fixed asset^{^[1]} in private corporate sector over the past three years from 2021-22 to 2023-24 followed by enterprises engaged in ‘Electricity, Gas, Steam, and Air Conditioning Supply’ (8%-10%).

In 2021–22, the estimated actual CAPEX per enterprise was ₹109.3 crore, compared to the proposed value of ₹102.7 crore, resulting in a realisation ratio of 106.41 %. A similar trend was observed in 2022–23, where the estimated value of actual CAPEX per enterprise reached ₹148.8 crore against a proposed value of ₹133.3 crore, also yielding a realisation ratio exceeding 100%. For 2023–24, the realisation ratio stands at 99.7%, with the estimated actual CAPEX per enterprise at ₹107.6 and the proposed CAPEX at ₹107.9.

The estimated provisional capital expenditure per enterprise for acquiring new assets in 2024–25 stands at ₹172.2 crore. Among the sectors, manufacturing enterprises account for the largest share at 43.8%, followed by those in ‘Information and Communication Activities’ (15.6%) and ‘Transportation and Storage Activities’ (14.0%).

Estimated Key Indicators for 2023-24 by Asset Groups

The estimated provisional capital expenditure per enterprise for acquiring new assets in 2024–25 stands at ₹172.2 crore. Out of the total capital expenditure provisionally incurred in the year 2024-25, nearly 53.1% were utilized for purchasing machinery & equipment. The amount allocated for ‘capital work in progress’ (22.0%) and purchasing ‘dwellings, other buildings and structures’ (9.7%) had the next highest share of allocation.

Strategy of CAPEX in 2024-25

According to survey estimates, nearly 40.3% of enterprises plan to undertake CAPEX on core assets during 2024–25. Additionally, 28.4% intend to invest in value addition to existing assets, while around 11.5% focus on opportunistic assets, and 2.7% on debt strategies. The strategy of investing in distressed assets and non-performing loans was adopted by less than one-half of a percent of enterprises. Meanwhile, about 16.9% allocated their CAPEX towards other diverse investment strategies.

Objectives of CAPEX in 2024-25

The survey estimates indicate that nearly 49.6% of private corporate sector enterprises undertook CAPEX in 2024–25 primarily for income generation. An additional 30.1% directed their investments toward upgradation, while around 2.8% focused on diversification. Remaining 17.5% of enterprises reported using their CAPEX for other reasons.

The results of CAPEX survey are provided in the booklet which is available in the website of the Ministry (https://www.mospi.gov.in). To protect the confidentiality of CAPEX investment plans of individual enterprises, the Steering Committee of NSS Surveys recommended that unit-level data of CAPEX survey would not be disseminated.

Endnote: A brief about the coverage, sampling scheme, sample size and data collection mechanism in the Forward-Looking Survey on Private Sector CAPEX Investment Intentions:

A. Coverage:

The survey covered large private corporate sector enterprises that play a significant role in their respective sectors. The sampling frame was madeusing data from active enterprises registered with the Ministry of Corporate Affairs (MCA), filtered based on annual turnover thresholds achieved in at least one of the last three financial years. The eligibility criteria were as follows:
- Manufacturing enterprises with an annual turnover of ₹400 crore or more
- Trade enterprises with an annual turnover of ₹300 crore or more
- Other enterprises with an annual turnover of ₹100 crore or more
Based on these criteria, the final survey frame consisted of 16,025 enterprises.

B. Sampling Scheme:

Eligible enterprises were initially categorized into seventeen (17) strata based on their Principal Business Activity as reported in the MGT-7 Form of the Ministry of Corporate Affairs (MCA). In strata with 100 or fewer enterprises, all units were included in the Census Sector for complete enumeration.

For strata with more than 100 enterprises, the selection process involved identifying Census Sector Enterprises and Sample Sector Enterprises. To determine the Census Sector, enterprises were ranked in descending order based on (i) the highest fixed asset value in the past three years and (ii) the fixed asset value of latest reported year. The top enterprises accounting for 90% of asset value (or 80% for Construction and Trade) from either list were classified as Census Sector Enterprises. The remaining units formed the Sample Sector, from which 10% were randomly selected using Simple Random Sampling without Replacement (SRSWOR), with allocation proportional to each stratum’s size and variation.

C. Sample Size:

The sample size for the survey was of 5,380 enterprises: 4,145 enterprises in the Census Sector and 1,235 enterprises in sample sector.

D. Data Collection Mechanism:

The survey was conducted under the provisions of the Collection of Statistics Act, 2008, with prior notices sent to all selected enterprises outlining the survey’s objective and intended use of the data. Confidentiality of individual responses was strictly maintained, and no unit-level data would be disseminated. A secure, dedicated web portal was developed to enable selected enterprises to complete and submit the survey questionnaire online. The portal included background information on the survey, reasons for a unit’s selection, and chatbot support to assist respondents in understanding key concepts and definitions.

*****

Samrat/Allen

(Release ID: 2125175) Visitor Counter : 143

MIL OSI Asia Pacific News –
April 30, 2025
MIL-OSI Asia-Pac: Indian and U.S. officials meet in Washington, Bilateral Trade Agreement Talks Make Positive Progress

Source: Government of India

Posted On: 29 APR 2025 3:11PM by PIB Delhi

As part of ongoing discussions on the India-US Bilateral Trade Agreement, representatives of India’s Department of Commerce and the Office of the U.S. Trade Representative met in Washington, D.C. from 23-25 April 2025. This follows earlier bilateral discussions held in March, 2025 in New Delhi.

During the meetings in Washington, D.C., the team had fruitful discussions on wide ranging subjects covering tariff and non-tariff matters. The team discussed the pathway for concluding the first tranche of the mutually beneficial, multi-sector Bilateral Trade Agreement by Fall of 2025, including through opportunities for early mutual wins. While productive Sectoral expert level engagements have taken place through the virtual format, in-person Sectoral engagements are planned from end May.

The productive discussions are part of bilateral efforts in line with Leaders’ Statement of February 2025 to enhance and expand India-U.S. economic ties and supply chain integration through the Bilateral Trade Agreement.

***

Abhishek Dayal/ Abhijith Narayanan

(Release ID: 2125141) Visitor Counter : 184

MIL OSI Asia Pacific News –

April 30, 2025
MIL-OSI USA: Small Business Administration Celebrates First 100 Days Accomplishments
Source: United States Small Business Administration

WASHINGTON — Today, the U.S. Small Business Administration (SBA) celebrated the tremendous success of the First 100 Days of the Trump Administration by highlighting the economic wins of President Trump – including an 80% increase in SBA loan approvals which are driving historic rates of growth, hiring, and investment for America’s small businesses. The agency also laid out its top accomplishments under the leadership of Administrator Kelly Loeffler – including major reforms to cut waste, enhance government efficiency, restore fiscal responsibility, and refocus the agency on its core mission of empowering small businesses and growing the economy.

“In just 100 days, President Trump has restored optimism and opportunity for our job creators with a pro-growth economic agenda that has already slashed inflation, driven job creation, and delivered record investment. At the SBA, we’re driving that agenda forward by serving the massive surge in demand for loans – which is a strong indicator that our small businesses finally have the confidence to hire, expand, and invest,” said SBA Administrator Kelly Loeffler. “Anchored by our broader efforts to eliminate waste, enhance efficiency, and restore fiscal responsibility, the SBA is now a powerful engine for American workers and job creators – and in just 100 days, the results speak for themselves.”

Compared to Joe Biden’s First 100 Days, demand for new capital has skyrocketed. President Trump’s SBA has delivered an 80% increase in 7(a) and 504 loan approvals with about 26,000 loans approved for $12.6 billion – indicating a strong surge in small business formation and growth. This includes a 95% increase in loans for businesses with five or fewer employees (nearly 15,500 loans), a 56% increase in loans for new startups (over 3,700 loans), and a 74% increase in 7(a) loans for manufacturers (over 1,500 loans).

In total, about 60% of all new SBA loans in the First 100 Days benefitted America’s smallest job creators, with five or fewer employees. Additionally, over the last three months, the percentage of federal contracts awarded to small businesses has increased from 18% to 23%.

In the First 100 Days, the SBA has also enacted the Day One Priorities announced by Administrator Loeffler when she was first sworn-in. Key agency accomplishments include:

Cutting Waste and Enhancing Efficiency
- Reduced total agency spending by about $190 million.
- Terminated or paused over 120 contracts for about $3 billion in future savings.
- Terminated, consolidated, or relocated 47% of SBA leases – including regional offices located in sanctuary cities.
- Announced an agency-wide reorganization that will reduce the SBA workforce by 43%, restoring it to pre-pandemic levels for a cost savings of $435 million annually by 2026.
Advancing President Trump’s Agenda
- Took the lead on the President’s initiative to restore American industrial dominance, jobs, and national security by launching the Made in America Manufacturing Initiative to cut $100 billion in red tape, improve access to capital, and promote workforce development.
- Enacted President Trump’s Executive Orders, including eliminating the Office of Diversity, Equity, Inclusion, and Accessibility, updating agency collateral to reflect the existence of only two genders, ending the Green Lender Initiative, and terminating the Biden-era MOU with the Michigan Secretary of State’s office.
Restoring Fiscal Responsibility
- Took immediate action to enhance fraud protections within SBA loan programs by mandating that all loan applications include a citizenship and birth date verification.
- Restored underwriting standards and lender fees to the 7(a) loan program in the effort to preserve the zero-subsidy status of the program, protect taxpayers from fiscal liability, and reverse the Biden-era mismanagement that led to historic defaults.
Delivering Disaster Relief
- Approved over 17,000 disaster loans totaling $3.4 billion, far exceeding the total volume of disaster loans approved in all of FY 24 under Biden – including $1.4 billion in Florida, $350 million in North Carolina, and $173 million in Georgia.
# # #

About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of entrepreneurship. As the leading voice for small businesses within the federal government, the SBA empowers job creators with the resources and support they need to start, grow, and expand their businesses or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

MIL OSI USA News –
April 30, 2025
MIL-OSI: EMGS – Annual report for 2024 – ESEF
Source: GlobeNewswire (MIL-OSI)

Reference is made to the stock exchange notice published by Electromagnetic Geoservices ASA (“EMGS” or the “Company”) on 24 April 2025, where EMGS published its audited financial statements and annual report for 2024.

As noted by the Company in that stock exchange notification, the European Single Electronic Format (ESEF) 2024 annual report would be published on or about 29 April 2025.

The ESEF file is attached to this stock exchange notification and will also be available on www.emgs.com.

Contact
Anders Eimstad, Chief Financial Officer, +47 948 25 836

This information is published in accordance with the Norwegian Securities Trading Act § 5-12.

About EMGS
EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The Company’s services enable the integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface. This improves exploration efficiency and reduces risks and the finding costs per barrel. CSEM technology can also be used to detect the presence of marine mineral deposits (primarily Seabed Massive Sulphides) and EMGS believes that the technology can also be used to estimate the mineral content of such deposits. The Company is undertaking early-stage initiatives to position itself in this future market.

Attachment
- 5967007LIEEXZXI7OG55-2024-12-31-0-en
The MIL Network –
April 30, 2025
MIL-OSI USA: Arizona Man Sentenced to Prison for COVID-19 and Tax Fraud

Source: US State Government of Utah

Defendant Used Another’s Identity to File More Than $7 Million in False Refund Claims with the IRS.

An Arizona man was sentenced to 4 years in prison for filing false tax returns and loan applications to obtain COVID-19 disaster relief.

According to court documents and evidence presented in court, to create the appearance that he was operating several businesses, Roy Layne of St. David, Arizona filed paperwork with the IRS, applied for a business license from the City of Tuscon, opened business bank accounts, and filed false employment-related tax returns. In April 2020, he filed an application with the U.S. Small Business Administration, that claimed he operated a “wholesale” business with 17 employees that had revenue of more than half a million dollars a year. In 2021, he submitted a false application for a Paycheck Protection Act Loan, claiming that same “wholesale” business had 31 employees, and $1.2 million in revenue. Layne ultimately received $306,700 in COVID-19 related loans to which he was not entitled.

In addition, Layne used the personal identifying information and identity of another person to file false claims for refunds with the IRS. In total, Layne claimed over $7.4 million in false refunds, of which the IRS paid $590,000.

In addition to the term of imprisonment, U.S. District Judge John C. Hinderaker ordered Layne to serve three years of supervised release and to pay $856,692.91 in restitution to the United States.

Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division and Interim U.S. Attorney Timothy Courchaine of the District of Arizona made the announcement.

IRS Criminal Investigation and the Federal Bureau of Investigation are conducting the investigation.

Trial Attorney Matthew R. Hoffman of the Tax Division and Assistant U.S. Attorney Mary Sue Feldmeier of the District of Arizona are prosecuting the case.

MIL OSI USA News –

April 30, 2025
MIL-OSI Security: Arizona Man Sentenced to Prison for COVID-19 and Tax Fraud

Source: United States Attorneys General 13

Defendant Used Another’s Identity to File More Than $7 Million in False Refund Claims with the IRS.

An Arizona man was sentenced to 4 years in prison for filing false tax returns and loan applications to obtain COVID-19 disaster relief.

According to court documents and evidence presented in court, to create the appearance that he was operating several businesses, Roy Layne of St. David, Arizona filed paperwork with the IRS, applied for a business license from the City of Tuscon, opened business bank accounts, and filed false employment-related tax returns. In April 2020, he filed an application with the U.S. Small Business Administration, that claimed he operated a “wholesale” business with 17 employees that had revenue of more than half a million dollars a year. In 2021, he submitted a false application for a Paycheck Protection Act Loan, claiming that same “wholesale” business had 31 employees, and $1.2 million in revenue. Layne ultimately received $306,700 in COVID-19 related loans to which he was not entitled.

In addition, Layne used the personal identifying information and identity of another person to file false claims for refunds with the IRS. In total, Layne claimed over $7.4 million in false refunds, of which the IRS paid $590,000.

In addition to the term of imprisonment, U.S. District Judge John C. Hinderaker ordered Layne to serve three years of supervised release and to pay $856,692.91 in restitution to the United States.

Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division and Interim U.S. Attorney Timothy Courchaine of the District of Arizona made the announcement.

IRS Criminal Investigation and the Federal Bureau of Investigation are conducting the investigation.

Trial Attorney Matthew R. Hoffman of the Tax Division and Assistant U.S. Attorney Mary Sue Feldmeier of the District of Arizona are prosecuting the case.

MIL Security OSI –

April 30, 2025
MIL-OSI United Kingdom: The UK is committed to doing all we can to protect information integrity with a human rights-based approach: UK statement at the UN

Source: United Kingdom – Executive Government & Departments

Speech

The UK is committed to doing all we can to protect information integrity with a human rights-based approach: UK statement at the UN

Statement by UK Spokesperson to the UN Letisha Lunin at the UN Committee on Information General Debate.

Thank you Chair, let me begin by congratulating you and the members of the Bureau on your election.

I would also like to thank the Secretariat and Under-Secretary-General Fleming and the Department of Global Communications for its work, including on the UN’s Global Principles for Information Integrity, which we are proud to support.

The UN’s footage and testimony from war zones shines a light on humanitarian crises. Its news and campaign services raise awareness of the Sustainable Development Goals, and equip us with accurate information on the climate and nature crisis.

As we mark the UN’s 80th anniversary, the Department’s work has never been more important.

It is vital audiences understand the nature and magnitude of the current global challenges we face, and how the UN has made a difference, maintaining international peace and security, in accordance with the UN charter.

Chair, I will make three points:

First, the UK is extremely concerned at the rapidly growing threats to information integrity, fueled by artificial intelligence.

Mis and disinformation operations are being used to exacerbate tensions and conflicts, and compromise the integrity of elections, undermining trust in democratic institutions.

The recent World Economic Forum Global Risks Report for 2025 lists mis and disinformation as the most severe global risks over the next two years.

Mis and disinformation is being weaponised by state and non-state actors to deceive populations at scale.

Since Russia’s illegal invasion of Ukraine, Russia has been using disinformation to undermine global support for Ukraine. The UK has been proactive in identifying and acting against these malign information operations. This includes exposing and sanctioning the Russian state-funded Social Design Agency, whose sole purpose is to weaken international support for Ukraine by spreading false social media content.

Recently, the UK shared information that Proxies, directed by the Russian state, have plans to interfere with elections in the Central African Republic, including through suppressing political voices and conducting disinformation campaigns to interfere in political debate.

Russia has also been exploiting the Security Council as a platform for disinformation. Russia has invited dozens of individuals as briefers to spread conspiracy theories about what has happened in Ukraine.

Member States all have a responsibility to protect the integrity of the UN as a trusted source of information.

The UK condemns disinformation about UN Peacekeeping operations. The spread of false allegations not only erodes trust between the Blue Helmets and the communities they serve, it is also damaging their ability to implement their mandate, and it is putting peacekeepers’ lives at risk.

We are proud to support the UN’s Mis and Disinformation in Peacekeeping Settings Project.

Second, independent journalism reported freely, without fear, is essential in a democratic society.

But in many parts of the world, the freedom of the media is under threat.

The Committee to Protect Journalists (CPJ) reports that more journalists were killed in 2024 than in any other year since it began collecting data over three decades ago.

The conflict in Gaza has become the deadliest ever recorded for media and journalist workers.

In Sudan, reporters are also taking significant risks to document the horrors of war.

Journalists should be able to carry out their work safely and free from censorship and harassment.

The UK is proud to have co-founded the Media Freedom Coalition, with 51 countries as members, advocating for the safety of journalists.

And we also thank the Department of Global Communications for its work supporting journalists.

This brings me to my third point, Chair. The UK is committed to doing all we can to protect information integrity with a human rights-based approach.

That is why we are proud to support the Global Digital Compact.

The UK’s Online Safety Act ensures platforms tackle harmful content by requiring companies to take steps to remove illegal content, including illegal mis and disinformation.

Finally, the UK supports multilingualism.

And while a third of the world’s population remains offline, the UK supports collective efforts to close the digital divide and ensure those who come online have access to accurate and reliable information.

Thank you.

Updates to this page

Published 29 April 2025

MIL OSI United Kingdom –

April 30, 2025
MIL-OSI Global: Canada’s Conservatives, with an assist from Donald Trump, are down — but they’re far from out

Source: The Conversation – Canada – By Sam Routley, PhD Candidate, Political Science, Western University

Canada’s Liberals have, once again, risen from the dead. Their re-election with Mark Carney at the helm is a remarkable development in Canadian federal politics — the party not only managed to reverse the dire predictions of its demise but also, despite voters expressing a desire for change, retained its control of government for a rare fourth consecutive term.

This is a crushing disappointment for the Conservative Party of Canada. Although they have so far held the Liberals to a minority government — votes are still being counted in some ridings — their continuing role as the lead opposition, albeit a bigger one, pales in comparison to the large majority government they’d been projected to form.

Leader Pierre Poilievre even lost his own Ottawa-area seat.

But for all this dejection, Conservatives still had a solid and promising performance. Rather than constituting a total failure, their standing is better regarded as an inability to fully close the deal.

The Trump factor

Conservatives won the greatest share of the national vote by any federal centre-right party since 1988, and the popular vote remains close to a virtual tie.

The narrow margins of many Liberal gains also suggests that a Conservative minority was within the realm of possibility. For all his success, a politically inexperienced Carney so far appears to have failed to win a majority government, and may have inherited yet another fractious and unstable minority that will probably not last long.

While it’s still too early to get a full grasp of how voters made their decisions, it appears that the nearly 25-point swing in the polls was largely due to United States President Donald Trump’s tariffs and threats against Canada.

From the moment he came to office for a second term, Trump’s constant threats transformed the election from a fairly routine matter of anti-incumbent backlash to one focused on leadership, national unity and crisis management. Overnight, Canadian sovereignty became the top issue, and the NDP vote collapsed as most voters decided that their choice was really been two leaders.

Divided electorate

Carney was able to leverage his background as governor of both the Bank of Canada and the Bank of England, and his short initial tenure as prime minister, to not only depict a steady hand, but to generate a rally-around-the-flag effect.

Poilievre, in contrast, was unable to continue with the disruptive, anti-establishment tone of much of his previous rhetoric.

Read more:
From dog whistles to blaring horns, Poilievre makes his case

But even while Carney, from the moment campaign started, performed better on the Trump issue than Poilievre, it was far from the only issue that mattered to voters.

What ultimately drove voters back to the Liberals seems to be confined to largely one aspect of the population — older and more economically established Canadians.

Many voters still prioritized domestic issues — such as the cost of living crisis, housing affordability and economic stagnation — that had once characterized the campaign. Conservatives seemed to gain support throughout the campaign from young adults, newer Canadians, blue-collar workers and some NDP defectors.

Rather than providing Carney with a clear mandate, the results suggest Canada continues to grow increasingly divided along the lines of age, class and region. The Liberals have been able to hold onto power with the support of Canadians wanting to defend what they have, but Conservatives are gaining ground among voters who feel increasingly disenchanted with and locked out of the Canadian project they’re now being told to embrace.

Poilievre’s future

Poilievre has signalled his intention to stay on as Conservative leader. In the months ahead, he’ll not only need to find a way to return to Parliament via a byelection — he’ll also need to convince his party and caucus he should remain leader.

While the party doesn’t have an automatic leadership review following elections, there are several mechanisms to challenge Poilievre’s leadership.

There are certainly several areas where Poilievre and his team can be faulted by Conservative party members. A loss is a loss, and there have been well-publicized reports of internal discord and frustration about his campaign strategy.

Ultimately, however, a sustained movement to push out Poilievre seems unlikely. For all his drawbacks, Poilievre has not only brought the party its greatest electoral performance in decades, but he’s generated a unique degree of energy and enthusiasm among supporters that no obvious successor seems capable of maintaining.

The challenge now is about determining what the Conservative party, having received just above 41 per cent of the vote, needs to do in order to gain a few more percentage points.

Sam Routley 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. Canada’s Conservatives, with an assist from Donald Trump, are down — but they’re far from out – https://theconversation.com/canadas-conservatives-with-an-assist-from-donald-trump-are-down-but-theyre-far-from-out-255396

MIL OSI – Global Reports –

April 30, 2025
MIL-OSI USA: Chairman Aguilar: America is less safe and more expensive than it was 100 days ago

Source: US House of Representatives – Democratic Caucus

The following text contains opinion that is not, or not necessarily, that of MIL-OSI – April 29, 2025

WASHINGTON, D.C. — Today, House Democratic Caucus Chair Pete Aguilar and Vice Chair Ted Lieu were joined by Representatives John Mannion and April McClain Delaney for a press conference on the disastrous first 100 days of the Trump Administration that has made America less safe and more expensive.

CHAIRMAN AGUILAR: Good morning. So thankful to be joined by two members in addition to our Vice Chair. Appreciate John Mannion and April McClain Delaney joining us.

America is less safe and more expensive than it was 100 days ago. Trump’s reckless tariffs are going to make the high price of groceries, gas, housing, utilities, clothing, electronics and other essential goods even worse. Companies are laying off hard-working Americans, and we are staring down an impending supply chain crisis in a few weeks. Our national security is threatened by amateur individuals sharing classified war plans in group chats. Our communities are threatened because Trump released hundreds of criminals back onto the street. Our freedoms are threatened because the Trump Administration abandons the rule of law and due process by deporting an innocent man and even American children.

By every metric, Donald Trump has failed. But instead of trying to put out the fire that he’s caused, he’s pouring gasoline on by cutting $880 billion from Medicaid, that will make healthcare more expensive and less affordable. He wants to take food off of the tables of American families, children and veterans. And he’s doing this all for one simple purpose: to put into place massive tax breaks for his billionaire donor friends. The Speaker went to the White House yesterday to get his marching orders, but if House Republicans want to avoid tying themselves to this sinking ship, they need to vote against the Republican Budget Bill. You’ll see House Democrats fighting back every step of the way this week and next week as Republicans try to pass through a dangerous and extreme budget.

It’s my privilege to introduce Vice Chair of the Democratic Caucus, Ted Lieu.

VICE CHAIR LIEU: Thank you, Chairman Aguilar, and honored to be here with Representatives Mannion and Delaney. Donald Trump’s first 100 days and one of the worst first 100 days of any U.S. President in history. That’s because his policies are harming America, and the American people have noticed. Multiple polls show Trump’s approval ratings plummeting. An Associated Press poll showed him at only 39% approval, 59% disapproval. And a recent Washington Post poll also shows him at only 39% approval, the lowest of any U.S. President in 80 years. One reason is because of tariffs. His indiscriminate tariffs have increased prices. I urge all of you to look at a statement from the International Longshore and Warehouse Union. They put out a statement saying that the tariffs are crushing the working class with higher prices. And what’s even worse is we don’t even understand the rationale for these tariffs, because the White House has put out two completely different rationales. One of them is, we’re imposing these indiscriminate tariffs to try to strike deals, to go to a zero-tariff situation with other countries and have more free trade, reduce trade barriers. And then you have Donald Trump saying over the weekend, I’m doing these tariffs to create an external revenue service, to use this as a permanent revenue source to take the money that consumers are paying and inject that into the federal government. Those are completely opposite rationales and the White House can’t even figure out why it’s doing these tariffs.

And then let me just conclude now about Secretary of Defense Pete Hegseth. I note that he has recently spent taxpayer funds for a makeup studio. I hope it’s going well and makes him look better on TV. But in terms of his policies, they are completely awful. Especially his operational ability to handle sensitive information. You may have seen recent reporting showing that his phone number has now been all over the internet, and if hackers have your phone number, there are a number of ways to surveil your phone. I asked reporters to look into whether he used his personal phone overseas. There is a hack called the SS7 Attack, stands for Signaling System No. 7. I was part of an investigation a few years ago. It doesn’t matter how great your phone is, it’s because of the telecommunications providers you use, there’s a flaw in there that they can surveil your phone, and they can do that in the U.S., it’s even worse overseas. So, you all should check out whether Secretary Hegseth compromised his phone if you use it overseas. With that, it is my honor now to invite Representative Mannion to come speak to you. Before being in Congress, he was a public school teacher and a State Senator from the great state of New York.

REP. MANNION: Thank you, Vice Chair. Good morning, everybody. I’m John Manion from Syracuse, New York. I’m a member of the Agriculture and Education and Workforce committees, and I represent NY-22, central New York, in the Mohawk Valley. We’re at 100 days into this second Trump Administration, and what we’ve seen is chaos, confusion, confrontation and fear. We’re witnessing an extraordinary assault on our Constitution, on our norms and our values, on our democracy, unlike what we’ve ever seen before, as we’re watching in real time, the dismantling of governmental guardrails.

One place where the damage is particularly clear is as it relates to our trade policy. Tariffs should be used with precision and purpose, but not as blunt political instruments. I believe now is the time for Congress to reassert the constitutional authority it continues to cede to the executive branch, and tariff policy is a good place for that to start. NY-22 has a long history of manufacturing, of innovation. We have a vibrant agricultural sector and world-class research institutions. We’re home to the largest private investment in the history of this country, with Micron’s historic $100 billion project to onshore semiconductor chip manufacturing in my district in Clay, New York. It’s a transformative project that will create thousands of jobs and solidify our region’s role in the global economy and the global tech economy.

But just as importantly, it is about making sure that our national security and the resources that we use to preserve our national security is happening right here in our country. My district is a down-the-middle district. We have representatives at the state legislature and the counties that are both Republicans and Democrats. CHIPS and Science was a piece of legislation that required all levels of government, from both parties, and stakeholders and experts in the field, to negotiate it, get it right, so that we can make sure that we put our national security at a premium and the emerging threats as it relates to supply chains, we had to address that. We did address it. It was done in the last Congress, and as a result, that project is moving forward.

When it comes to tariffs, you know, I looked at maps with arrows that show the negative impact, and no arrow is bigger than the state of New York. I live less than 100 miles from the Canadian border. My mother grew up in a town called Chateaugay, New York, which is five miles from the Canadian border. But you don’t have to be five miles from the border to see the impact that already exists. Tariffs are necessary tools that can be used for national security, for protecting hardworking Americans and their jobs and to grow that, but the current Administration’s approach lacks strategy and nuance, fails to recognize beneficial relationships between our friends, our allies and our business partners, like Canada.

In Central New York and the Mohawk Valley, we rely heavily on trade with Canada for both imports and exports. Sometimes a product’s production crosses the border multiple times, sometimes within the same company, and still, tariffs would be imposed on those pre-manufactured products. Materials come from Canada, and our products go to Canada. We have multiple industries that are being impacted in agriculture, lumber, metal production, as I mentioned, our building materials for an important plant that is coming into my district. There are double and triple tariffs that are hurting the bottom line. They’re hurting jobs. Contracts are being canceled. Contracts are not moving forward in the negotiation process. Costs are being driven up. It makes absolutely zero sense. So, we have to get this right. The relationship between my district and Canada is so intricate, and it goes beyond just commerce. Canadians are our friends. They are often our family members. As I said, they’re our business partners. And what newly elected Canadian Prime Minister Carney made remarks last night, and he called this “the American betrayal”. To hear stories of Canadians taking American products and turning them over so as to easily identify that product as American-made is unbelievable. Something that I would not imagine in our lifetime, and it is an unnecessary act because of the unnecessary acts that have come out of this Administration. The Prime Minister pledged to find new relationships and new agreements with reliable trade partners outside of the United States of America. And I do agree that describing this situation as a tragedy is accurate.

My conversations with New York farmers, including dairy producers, owners of apple orchards, maple syrup producers and other industries like lumber, the interconnectedness between New York State’s economy and Canada is vital to our collective success. Items like fertilizer, potash, these come from Canada. 90% of our potassium, not just in Central New York, but all across this country, comes from Canada. So, we must use precision when it comes to our trade policy. Tariffs are basically a tax on American consumers and businesses, continues to drive up costs for essential items like groceries, fuel, agricultural supplies. Where I’m from, in Central New York, we want policies that reflect the realities of our interconnected economy with our friend and ally, Canada.

America, the people of NY-22, our farmers—we all need policies that make sense, not a whipsaw on again, off again, tariff game that this current Administration is playing. It’s reckless. The impact will be massive. There will be waves of negative impact on multiple sectors of our economy, and that means it’s going to hurt hardworking Americans. It’s going to hurt small businesses. We must restore our standing as a reliable trade partner, not just with Canada, but with our other allies and trade partners around the world.

Simply, we are hurting consumers. We’re hurting Americans. We’re hurting businesses because of a lack of a cohesive strategy. We need to be more thoughtful. We need to be more targeted. We need to strengthen our economy without placing undue burdens on hardworking Americans. So, I ask that we have sanity to our trade policy, and that we restore our country’s standing around the world, not just as a reliable trade partner, but as the beacon of democracy around the world. Thank you. I appreciate the opportunity to speak, and with that, I will pass along the microphone to my colleague, Representative April McClain Delaney.

REP. MCCLAIN DELANEY: Good morning. I represent the Sixth District of Maryland, and when elected, I made a commitment to my constituents to seek common-sense, common-ground solutions. Sadly, the past 100 days, I’ve desperately been trying to find either common sense or common ground, and in fact, the chaos that has ensued has hurt everyone within my district. My district is as economically diverse as any district in the country. It starts not far from here in Montgomery County, where NIH researchers are curing cancer and NIST employees are establishing parameters for AI innovation. And it goes all the way to beautiful Mountain and Western Maryland, where family farms are providing their bounty to our community, and it borders West Virginia and Pennsylvania.

In my district, no one has escaped the harmful impact of Trump tariffs and isolation policy or his indiscriminate cuts to federal workers. I represent over 35,000 federal workers at agencies such as NIH, the National Institute of Cancer, NIST, our Fire Academy and Fort Detrick. Farmers are very concerned about selling their crops because of tariff impacts, but also because of markets drying up, markets they normally sold into, like through USAID or through SNAP programs. And cancer and innovation researchers and the surrounding biotech and tech private markets have been dealt a devastating blow from government cuts to both agencies and research and innovation engines. Small businesses and consultants are cratering because of lack of business, and this, in turn, is hurting every day, smaller businesses, markets, salons, sole proprietorships, who depend on spending in their community. And this includes tourism and business linked to our seven national parks in this district. We are home to the C&O Canal, which gets as many visitors per year as Yellowstone.

With respect to specific examples, last week, I toured the Volvo factory in Hagerstown, Maryland, where they make Mack Trucks. I was privileged to even get to drive one. They produce the engines and the axles for these vehicles and are pioneering some EV technology. But in the short term, they told me they have 1,700 workers. But instead of reshoring and bringing innovation and investment into the United States, Volvo is projected to cut 50 to 100 workers due to tariffs and economic insecurity. They do not know how the market will react, and more cuts might come later. Moreover, I have met with each of my five County Farm Bureaus, Montgomery County, Frederick, Allegheny, Washington County, Garrett, and they’re all concerned about crop market prices, SNAP and reimbursement for investments they made into their farms which have not been reimbursed by government programs for which they were promised. It is a tsunami hitting them from every angle and toppled with that, are threatened cuts to Medicaid, Medicare and Social Security. And, of course, rural health clinics are really at risk in my district because of their dependence on Medicaid.

These self-inflicted, nonsensical, penny-foolish and pound-foolish policies are impacting our economic security, our U.S. competitiveness and our national security. Much more to say innovation and our trust internationally in the U.S. and the U.S. economy and our U.S. dollar. Having said the above, I stand ready to work on common-sense, common-ground solutions and across the aisle to make a reality the things we all care about, including focusing on inflation, innovation, affordability and fortifying our U.S. resilience, our U.S. competitiveness and our national security.

Video of the full press conference and Q&A can be viewed here.

###

MIL OSI USA News –

April 30, 2025
MIL-OSI Africa: Invest in African Energy 2026 Forum Confirmed for May 11–12 in Paris

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

PARIS, France, April 29, 2025/APO Group/ —

Energy Capital & Power (ECP) (www.EnergyCapitalPower.com) is pleased to announce that the fourth edition of the Invest in African Energy (IAE) Forum will return to Paris on May 11–12, 2026, with a sharpened focus on frontier exploration, early-stage project development and upstream investment opportunities. Building on three highly successful editions, IAE continues to serve as the premier platform for global explorers, investors and African energy leaders to connect, collaborate and catalyze the next wave of discoveries.

Held in Europe’s leading financial and diplomatic center, IAE 2026 will convene energy ministers, national oil companies, utilities, regulators and global investors for two days of strategic dialogue and high-level engagement. This edition will introduce an enhanced focus on the exploration community and its broader ecosystem – from geologists and service companies, to governments and capital providers. With over 150 oil and gas blocks available for bidding across more than 10 African markets in 2025, the continent is experiencing an exploration resurgence, presenting opportunities in both mature and frontier regions. IAE will serve as the premier platform for accessing these opportunities, exploring the latest data rooms, showcasing seismic and subsurface innovation and fostering early-stage collaboration among IOCs and NOCs.

Several high-impact licensing rounds are already lined up for 2026, signaling new momentum across Africa’s exploration landscape. Equatorial Guinea has relaunched its open-door licensing process, paving the way for a major licensing round by late 2025 or early 2026. Angola is planning to repeat its multi-year licensing round for oil and gas acreage starting in 2026, while Namibia is lining up new offshore licensing opportunities from 2025 that are expected to continue into the following year. Uganda also plans to issue new exploration licenses in the 2025/2026 fiscal year. In addition, several licensing rounds launched in 2025 will carry over into 2026, offering continued momentum and opportunity for exploration-focused stakeholders.

More than just a development-focused event, IAE 2026 is setting the stage for the next era of African oil and gas exploration. With operators and developers expected to invest $43 billion in Africa’s oil and gas sector in 2025 — and capital expenditure projected to reach a decade-high of $54 billion by 2030 — Africa’s role in the global energy landscape is only set to grow. IAE responds directly to this momentum, serving as a launchpad for cross-border investment, strategic partnerships and early-stage project financing. The forum is purpose-built to engage geologists, upstream strategists, service providers and capital partners looking to unlock the continent’s vast untapped hydrocarbon potential.

“IAE has become the definitive meeting point for Africa’s energy stakeholders and global capital markets. We’re especially focused on amplifying exploration in 2026 – shining a spotlight on frontier plays, licensing opportunities and early-stage assets ready for partnerships. With preparations underway, we are committed to sustaining this platform’s growth and delivering another high-impact edition in 2026,” said Sandra Jeque, Events & Project Director at ECP.

In previous editions, the forum has welcomed official delegations from over 20 African countries, hosted exclusive ministerial panels and investor roundtables, and featured hundreds of B2B meetings that have laid the foundation for tangible, cross-border cooperation. By spotlighting Africa’s exploration resurgence — from untapped basins and high-impact drilling campaigns to recent regulatory shifts — the forum will offer clear value to IOCs evaluating global priorities, while outlining what the exploration landscape looks like and what investors need to know to engage effectively.

More information on the 2026 program, speaker lineup and sponsorship opportunities will be announced in the coming months.

MIL OSI Africa –

April 30, 2025
MIL-OSI Africa: The U.S.-Africa Energy Forum (USAEF) to Spotlight African Energy Opportunities, U.S.-Africa Collaboration

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

HOUSTON, United States of America, April 29, 2025/APO Group/ —

The U.S.-Africa Energy Forum (USAEF) returns to Houston with a bold agenda focused on catalyzing American investment and innovation across Africa’s most dynamic energy markets. Designed as a high-impact platform for government and private sector dialogue, USAEF brings together African energy stakeholders and leading U.S. companies to accelerate project development, capital deployment and technology transfer across the continent.

The forum is set to open with a High-Level U.S.-Africa Energy Dialogue, bringing together senior policymakers, energy ministers and private sector leaders to set the tone for deeper cooperation and alignment on mutual priorities. This flagship session will be followed by a forward-looking panel discussion on Private Equity Driving a New Wave of African Business, exploring how U.S.-based investment firms are shaping Africa’s next chapter of energy growth. The agenda will also spotlight frontier opportunities; overlooked plays across the Middle East, North Africa and sub-Saharan Africa; and bold strategies to grow the U.S. footprint in Africa’s critical minerals and energy assets.

Libya, the Republic of Congo, Nigeria and the Democratic Republic of the Congo (DRC) will take center stage during a series of Country-Focused Sessions highlighting strategic priorities, reform agendas and concrete investment opportunities. African governments and national oil companies will present their latest projects and policy frameworks, while American firms such as Chevron, ExxonMobil, SLB and ConocoPhillips will explore avenues to deepen partnerships in established markets like Nigeria and Libya, and tap into emerging opportunities in the Republic of Congo and the DRC.

With major reforms and investment drives underway, these markets are fast becoming focal points for American engagement. Libya, North Africa’s powerhouse, has launched a 22-block licensing round as it works to revitalize its upstream sector and reach a production target of 1.6 million barrels per day (bpd), alongside multi-billion-dollar gas monetization and export projects.

The Republic of Congo is aiming to scale production to 500,000 bpd, while advancing gas monetization under a new Gas Master Plan that invites international collaboration. In the DRC, reforms to the hydrocarbons code and a potential minerals-for-security agreement with the U.S. signal new entry points for American firms. Nigeria continues to stand out as a top-tier investment destination, targeting $10 billion in deepwater gas projects through new tax incentives and a planned auction of undeveloped blocks to boost exploration and production.

With participation from key industry players and high-level delegations, USAEF affirms a shared commitment by African stakeholders to attract American capital and technology to bolster their respective energy markets. U.S. companies, in turn, are ready to expand their footprint, forge new alliances and unlock the full potential of Africa’s energy future.

For tickets, sponsorship opportunities and more information, please contact sales@energycapitalpower.com. Join us in Houston this August to connect with the leaders shaping Africa’s energy landscape and experience the momentum that drives ECP’s events worldwide.

MIL OSI Africa –

April 30, 2025
MIL-OSI Africa: Secretary-General’s remarks to the Security Council – on the Middle East [as delivered; scroll down for all-English and all-French]

Source: United Nations – English

onsieur le Président, Excellences,

Je remercie la présidence française d’organiser cette réunion au niveau ministériel sur le Moyen-Orient, y compris la question palestinienne.

La région traverse des bouleversements fondamentaux, marqués par la violence et la volatilité, mais également porteurs d’opportunités et de potentiel.

Au Liban, le cessez-le-feu et l’intégrité territoriale doivent être respectés et tous les engagements doivent être mis en œuvre.

En Syrie, nous devons poursuivre nos efforts pour accompagner le pays sur la voie d’une transition politique inclusive de toutes les composantes de la population syrienne – une transition qui garantisse la reddition de comptes, favorise la réconciliation nationale, et jette les bases du redressement à long terme de la Syrie ainsi que de son intégration future au sein de la communauté internationale.

Cela inclut la situation dans le Golan syrien occupé, qui demeure précaire en raison de violations majeures de l’Accord de désengagement des forces de 1974 – notamment la présence continue des Forces de défense israéliennes dans la zone de séparation, ainsi que leurs multiples frappes contre des sites au-delà de la ligne de cessez-le-feu.

À travers le Moyen-Orient, les populations réclament et méritent un avenir meilleur – et non des conflits et des souffrances sans fin.

Nous devons agir ensemble pour faire en sorte que cette période de turbulences et de transition réponde à ces aspirations – et qu’elle apporte justice, dignité, droits, sécurité, et une paix durable.

Cela commence par la reconnaissance de deux faits fondamentaux :

Premièrement, la région se trouve à un moment charnière de son histoire.

Et, deuxièmement, que toute paix vraiment durable au Moyen-Orient dépend d’une question centrale.

Un élément essentiel que ce Conseil de sécurité a affirmé et réaffirmé, année après année, décennie après décennie : une solution à deux États, Israël et la Palestine, vivant côte-à-côte dans la paix et la sécurité, avec Jérusalem comme capitale des deux États.

Mr. President,

Today, the promise of a two-State solution is at risk of dwindling to the point of disappearance.

The political commitment to this long-standing goal is farther than it has ever been.

As a result, the rights of both Israelis and Palestinians to live and peace and security have been undermined – and the legitimate national aspirations of the Palestinians have been denied – while they endure Israel’s continued presence that the International Court of Justice has found unlawful.

And since the horrific 7 October terror attacks by Hamas, it has gotten worse on every front.

First, the unrelenting conflict and devastation in Gaza – including the utterly inhumane conditions of life imposed on its people who are repeatedly coming under attack, confined to smaller and smaller spaces, and deprived of lifesaving relief.

In line with international law, the Security Council has rejected any attempt at demographic or territorial change in the Gaza Strip, including any actions that reduce its territory.

Gaza is — and must remain — an integral part of a future Palestinian state.

Second, in the occupied West Bank, including East Jerusalem, Israeli military operations and the use of heavy weaponry in residential areas, forcible displacement, demolitions, movement restrictions, and settlement expansion are dramatically altering demographic and geographic realities.

Palestinians are being contained and coerced. Contained in areas that are subject to increasing military operations and where the Palestinian Authority is under growing pressure – and coerced out of areas where settlements are expanding.

Third, settler violence continues at alarmingly high levels in a climate of impunity, with entire Palestinian communities facing repeated assaults and destruction, sometimes abetted by Israeli soldiers.

Palestinian attacks against Israelis in both Israel and the occupied West Bank also continue.

Mr. President,

The world cannot afford to watch the two-State solution disappear.

Political leaders face clear choices — the choice to be silent, the choice to acquiesce, or the choice to act.

Mr. President,

In Gaza, there is no end in sight to the killing and misery.

The ceasefire had brought a glimmer of hope – the long-sought release of hostages and delivery of lifesaving humanitarian relief.

But those embers of opportunity were cruelly extinguished with the shattering of the ceasefire on 18 March.

Since then, almost 2,000 Palestinians have been killed in Gaza by Israeli strikes and military operations – including women, children, journalists, and humanitarians.

Hamas also continues to fire rockets towards Israel indiscriminately – while the hostages continue to be held in appalling conditions.

The humanitarian situation throughout the Gaza Strip has gone from bad … to worse … to beyond imagination.

For nearly two full months, Israel has blocked food, fuel, medicine and commercial supplies, depriving more than two million people of lifesaving relief.

All while the world watches.

I am alarmed by statements by Israeli government officials about the use of humanitarian aid as a tool for military pressure.

Aid is non-negotiable.

Israel must protect civilians and must agree to relief schemes and facilitate them.

I salute the women and men of the United Nations and all other humanitarian workers – especially our Palestinian colleagues — who continue to work under fire and in incomprehensibly difficult conditions.

And I mourn all of the women and men of the United Nations who were killed – including some with their families.

The entry of assistance must be restored immediately — the safety of UN personnel and humanitarian partners must be guaranteed – and UN agencies must be allowed to work in full respect of humanitarian principles: humanity, impartiality, neutrality and independence.

There must be no hindrance in humanitarian aid – including through the vital work of UNRWA.

We need the immediate and unconditional release of all hostages.

And we need a permanent ceasefire.

It’s time to stop the repeated displacement of the Gaza population – along with any question of forced displacement outside of Gaza.

And the trampling of international law must end.

I call on Member States to use their leverage to ensure that international law is respected and impunity does not prevail.

This includes for the 19 March incident for which Israel has now acknowledged responsibility in firing on a UN guesthouse, killing one colleague and injuring six others … the 23 March killing of paramedics and other rescue workers in Rafah … as well as many other cases.

There must be accountability across the board.

Mr. President,

Advisory proceedings are ongoing at the International Court of Justice on the obligations of Israel, as an occupying Power and a Member of the United Nations, in relation to the presence and activities of the United Nations in and in relation to the Occupied Palestinian Territory.

In February, the United Nations Legal Counsel submitted a written statement to the Court – and yesterday, she made an oral statement before the Court – both of which on my behalf.

The statement to the Court includes points that I have made on a number of occasions.

Specifically, that all parties to conflict must comply with all their obligations under international law, including international human rights law and international humanitarian law.

That Israel, as an occupying Power, is under an obligation to ensure food and medical supplies of the population.

That Israel has an obligation to agree to and facilitate relief schemes in the Occupied Palestinian Territory.

That humanitarian, medical and United Nations personnel must be respected and protected.

And I emphasize the obligation under international law to respect the privileges and immunities of the United Nations and its personnel, including the absolute inviolability of United Nations premises, property and assets – and the immunity from legal process of the United Nations.

Such immunity applies to all UN entities in the Occupied Palestinian Territory – including UNRWA – a subsidiary organ of the General Assembly.
I call on Member States to fully support all of these efforts.

Mr. President,

In this period of turmoil and transition for the region, Member States must spell out how they will realize the commitment and promise of a two-State solution.

This is not a time for ritualistically expressing support, ticking a box, and moving on.

We are past the stage of ticking boxes – the clock is ticking.

The two-State solution is near a point of no return.

The international community has a responsibility to prevent perpetual occupation and violence.

My call to Member States is clear and urgent:

Take irreversible action towards implementing a two-State solution.

Do not let extremists on any side undermine what remains of the peace process.

The High-Level Conference in June, co-chaired by France and the Kingdom of Saudi Arabia, is an important opportunity to revitalize international support.

I encourage Member States to go beyond affirmations, and to think creatively about the concrete steps they will take to support a viable two-State solution before it is too late.

At the same time, the Palestinian Authority needs stepped-up and sustained support – politically and financially. This is crucial to ensure the continued viability of Palestinian institutions, consolidate ongoing reforms, and enable the PA to resume its full responsibilities in Gaza.

Mr. President,

At this hinge point of history for the people of the Middle East – and on this issue on which so much hinges – leaders must stand and deliver.

Show the political courage and exercise the political will to make good on this central question for peace for Palestinians, Israelis, the region and humanity.

Thank you.

***
[all-English]

Mr. President, Excellencies,

I thank the French presidency for convening this ministerial-level meeting on the Middle East, including the Palestinian question.

The region is undergoing fundamental shifts, marked by violence and volatility but also opportunity and potential.

In Lebanon, the ceasefire and territorial integrity must be respected and all commitments implemented.

In Syria, we must keep working to support the country’s path towards a political transition that is inclusive of all segments of the Syrian population – one that ensures accountability, fosters national healing, and lays the foundation for Syria’s long-term recovery and further integration into the international community.

This includes the situation in the occupied Syrian Golan — which remains precarious with significant violations of the 1974 Disengagement of Forces Agreement, with the continued presence of the Israel Defense Forces into the area of separation and their several strikes targeting locations across the ceasefire line.

Across the Middle East, people demand and deserve a better future, not endless conflict and suffering.

We must collectively work to ensure that this turbulent and transitional period meets those aspirations — and delivers justice, dignity, rights, security and lasting peace.

It starts by recognizing two fundamental facts:

First, that the region is at a hinge-point in history.

And, second, that truly sustainable Middle East peace hinges on one central question.

On a core issue that this Security Council has affirmed and re-affirmed decade after decade, year after year: a two-state solution, Israel and Palestine, living side-by-side in peace and security, with Jerusalem as the capital of both states.

Mr. President,

Today, the promise of a two-State solution is at risk of dwindling to the point of disappearance.

The political commitment to this long-standing goal is farther than it has ever been.

As a result, the rights of both Israelis and Palestinians to live and peace and security have been undermined – and the legitimate national aspirations of the Palestinians have been denied – while they endure Israel’s continued presence that the International Court of Justice has found unlawful.

And since the horrific 7 October terror attacks by Hamas, it has gotten worse on every front.

First, the unrelenting conflict and devastation in Gaza – including the utterly inhumane conditions of life imposed on its people who are repeatedly coming under attack, confined to smaller and smaller spaces, and deprived of lifesaving relief.

In line with international law, the Security Council has rejected any attempt at demographic or territorial change in the Gaza Strip, including any actions that reduce its territory.

Gaza is — and must remain — an integral part of a future Palestinian state.

Second, in the occupied West Bank, including East Jerusalem, Israeli military operations and the use of heavy weaponry in residential areas, forcible displacement, demolitions, movement restrictions, and settlement expansion are dramatically altering demographic and geographic realities.

Palestinians are being contained and coerced. Contained in areas that are subject to increasing military operations and where the Palestinian Authority is under growing pressure – and coerced out of areas where settlements are expanding.

Third, settler violence continues at alarmingly high levels in a climate of impunity, with entire Palestinian communities facing repeated assaults and destruction, sometimes abetted by Israeli soldiers.

Palestinian attacks against Israelis in both Israel and the occupied West Bank also continue.

Mr. President,

The world cannot afford to watch the two-State solution disappear.

Political leaders face clear choices — the choice to be silent, the choice to acquiesce, or the choice to act.

Mr. President,

In Gaza, there is no end in sight to the killing and misery.

The ceasefire had brought a glimmer of hope – the long-sought release of hostages and delivery of lifesaving humanitarian relief.

But those embers of opportunity were cruelly extinguished with the shattering of the ceasefire on 18 March.

Since then, almost 2,000 Palestinians have been killed in Gaza by Israeli strikes and military operations – including women, children, journalists, and humanitarians.

Hamas also continues to fire rockets towards Israel indiscriminately – while the hostages continue to be held in appalling conditions.

The humanitarian situation throughout the Gaza Strip has gone from bad … to worse … to beyond imagination.

For nearly two full months, Israel has blocked food, fuel, medicine and commercial supplies, depriving more than two million people of lifesaving relief.

All while the world watches.

I am alarmed by statements by Israeli government officials about the use of humanitarian aid as a tool for military pressure.

Aid is non-negotiable.

Israel must protect civilians and must agree to relief schemes and facilitate them.

I salute the women and men of the United Nations and all other humanitarian workers – especially our Palestinian colleagues — who continue to work under fire and in incomprehensibly difficult conditions.

And I mourn all of the women and men of the United Nations who were killed – including some with their families.

The entry of assistance must be restored immediately — the safety of UN personnel and humanitarian partners must be guaranteed – and UN agencies must be allowed to work in full respect of humanitarian principles: humanity, impartiality, neutrality and independence.

There must be no hindrance in humanitarian aid – including through the vital work of UNRWA.

We need the immediate and unconditional release of all hostages.

And we need a permanent ceasefire.

It’s time to stop the repeated displacement of the Gaza population – along with any question of forced displacement outside of Gaza.

And the trampling of international law must end.

I call on Member States to use their leverage to ensure that international law is respected and impunity does not prevail.

This includes for the 19 March incident for which Israel has now acknowledged responsibility in firing on a UN guesthouse, killing one colleague and injuring six others … the 23 March killing of paramedics and other rescue workers in Rafah … as well as many other cases.

There must be accountability across the board.

Mr. President,

Advisory proceedings are ongoing at the International Court of Justice on the obligations of Israel, as an occupying Power and a Member of the United Nations, in relation to the presence and activities of the United Nations in and in relation to the Occupied Palestinian Territory.

In February, the United Nations Legal Counsel submitted a written statement to the Court – and yesterday, she made an oral statement before the Court – both of which on my behalf.

The statement to the Court includes points that I have made on a number of occasions.

Specifically, that all parties to conflict must comply with all their obligations under international law, including international human rights law and international humanitarian law.

That Israel, as an occupying Power, is under an obligation to ensure food and medical supplies of the population.

That Israel has an obligation to agree to and facilitate relief schemes in the Occupied Palestinian Territory.

That humanitarian, medical and United Nations personnel must be respected and protected.

And I emphasize the obligation under international law to respect the privileges and immunities of the United Nations and its personnel, including the absolute inviolability of United Nations premises, property and assets – and the immunity from legal process of the United Nations.

Such immunity applies to all UN entities in the Occupied Palestinian Territory – including UNRWA – a subsidiary organ of the General Assembly.

I call on Member States to fully support all of these efforts.

Mr. President,

In this period of turmoil and transition for the region, Member States must spell out how they will realize the commitment and promise of a two-State solution.

This is not a time for ritualistically expressing support, ticking a box, and moving on.

We are past the stage of ticking boxes – the clock is ticking.

The two-State solution is near a point of no return.

The international community has a responsibility to prevent perpetual occupation and violence.

My call to Member States is clear and urgent:

Take irreversible action towards implementing a two-State solution.

Do not let extremists on any side undermine what remains of the peace process.

The High-Level Conference in June, co-chaired by France and the Kingdom of Saudi Arabia, is an important opportunity to revitalize international support.

I encourage Member States to go beyond affirmations, and to think creatively about the concrete steps they will take to support a viable two-State solution before it is too late.

At the same time, the Palestinian Authority needs stepped-up and sustained support – politically and financially. This is crucial to ensure the continued viability of Palestinian institutions, consolidate ongoing reforms, and enable the PA to resume its full responsibilities in Gaza.

Mr. President,

At this hinge point of history for the people of the Middle East – and on this issue on which so much hinges – leaders must stand and deliver.

Show the political courage and exercise the political will to make good on this central question for peace for Palestinians, Israelis, the region and humanity.

Thank you.

***
[all-French]

Monsieur le Président, Excellences,

Je remercie la présidence française d’organiser cette réunion au niveau ministériel sur le Moyen-Orient, y compris la question palestinienne.

La région traverse des bouleversements fondamentaux, marqués par la violence et la volatilité, mais également porteurs d’opportunités et de potentiel.

Au Liban, le cessez-le-feu et l’intégrité territoriale doivent être respectés et tous les engagements doivent être mis en œuvre.

En Syrie, nous devons poursuivre nos efforts pour accompagner le pays sur la voie d’une transition politique inclusive de toutes les composantes de la population syrienne – une transition qui garantisse la reddition de comptes, favorise la réconciliation nationale, et jette les bases du redressement à long terme de la Syrie ainsi que de son intégration future au sein de la communauté internationale.

Cela inclut la situation dans le Golan syrien occupé, qui demeure précaire en raison de violations majeures de l’Accord de désengagement des forces de 1974 – notamment la présence continue des Forces de défense israéliennes dans la zone de séparation, ainsi que leurs multiples frappes contre des sites au-delà de la ligne de cessez-le-feu.

À travers le Moyen-Orient, les populations réclament et méritent un avenir meilleur – et non des conflits et des souffrances sans fin.

Nous devons agir ensemble pour faire en sorte que cette période de turbulences et de transition réponde à ces aspirations – et qu’elle apporte justice, dignité, droits, sécurité, et une paix durable.

Cela commence par la reconnaissance de deux faits fondamentaux :

Premièrement, la région se trouve à un moment charnière de son histoire.
Et, deuxièmement, que toute paix vraiment durable au Moyen-Orient dépend d’une question centrale.

Un élément essentiel que ce Conseil de sécurité a affirmé et réaffirmé, année après année, décennie après décennie : une solution à deux États, Israël et la Palestine, vivant côte-à-côte dans la paix et la sécurité, avec Jérusalem comme capitale des deux États.

Monsieur le Président,

Aujourd’hui, la promesse de la solution des deux États court le risque de s’effilocher au point de disparaître.

L’engagement politique en faveur de cet objectif de longue date n’a jamais été aussi ténu.

De ce fait, les droits des Israéliens et des Palestiniens de vivre en paix et sécurité ont été mis à mal – et les aspirations nationales légitimes des Palestiniens ont été niées – alors qu’ils continuent de subir une présence israélienne que la Cour internationale de justice a jugée illicite.

Depuis les effroyables attaques terroristes perpétrées par le Hamas le 7 octobre, la situation s’est aggravée sur tous les fronts.

Premièrement, avec le conflit incessant et la dévastation que subit la bande de Gaza : les conditions de vie sont absolument inhumaines, les habitants sont la cible d’attaques à répétition et sont confinés dans des espaces de plus en plus réduits et privés d’une aide vitale.

S’appuyant sur le droit international, le Conseil de sécurité a rejeté toute tentative de changement démographique ou territorial dans la bande de Gaza, y compris tout acte visant à réduire le territoire.

Gaza fait partie intégrante d’un futur État palestinien et doit le rester.

Deuxièmement, en Cisjordanie occupée, y compris Jérusalem-Est, les opérations militaires israéliennes et l’emploi d’armes lourdes dans des zones résidentielles, les déplacements forcés, les démolitions, les restrictions de circulation et l’expansion des colonies transforment radicalement les réalités démographiques et géographiques.

Les Palestiniens sont cantonnés dans certains endroits et contraints d’en quitter d’autres. Ils sont cantonnés dans des zones où les opérations militaires se multiplient et où l’Autorité palestinienne est soumise à des pressions croissantes, et contraints de quitter les zones où les colons étendent leur emprise.

Troisièmement, la violence exercée par les colons se poursuit dans un climat d’impunité, parfois avec la complicité de soldats israéliens, et atteint des niveaux alarmants : des communautés palestiniennes tout entières sont agressées et victimes de destructions à répétition.

Les attaques menées par des Palestiniens contre des Israéliens en Israël et en Cisjordanie occupée se poursuivent également.

Monsieur le Président,

Le monde ne peut pas se permettre de voir la solution des deux États s’évanouir.

Les dirigeants politiques ont le choix : se taire, acquiescer ou agir.

Monsieur le Président,

À Gaza, rien ne laisse entrevoir la fin de la tuerie et des souffrances.

Le cessez-le-feu avait apporté une lueur d’espoir : la libération des otages, tant attendue, et l’acheminement d’une aide humanitaire vitale.
Hélas, cette lueur d’espoir s’est éteinte avec la rupture du cessez-le-feu le 18 mars.

Depuis, les frappes et les opérations militaires israéliennes ont fait près de 2000 morts parmi les Palestiniens dans la bande de Gaza, y compris des femmes, des enfants, des journalistes et du personnel humanitaire.

Le Hamas continue également de tirer des roquettes sur Israël sans discernement – tandis que les otages sont toujours détenus dans des conditions épouvantables.

Déjà mauvaise, la situation humanitaire dans la bande de Gaza n’a fait qu’empirer et dépasse aujourd’hui l’entendement.

Depuis près de deux mois, Israël bloque les livraisons de nourriture, de carburant, de médicaments et de marchandises, privant ainsi plus de deux millions de personnes d’une aide vitale.

Et ce, au vu et au su du monde entier.

Je suis alarmé par les déclarations de représentants d’Israël concernant l’utilisation de l’aide humanitaire comme moyen de pression militaire.

L’aide humanitaire n’est pas négociable.

Israël est tenu de protéger les civils ; il doit accepter les programmes d’aide et en faciliter l’exécution.

Je rends hommage au personnel des Nations Unies, femmes et hommes, ainsi qu’à tous les autres agents humanitaires, en particulier à nos collègues palestiniens, qui continuent à travailler malgré les frappes et dans des conditions inouïes.

Et je pleure toutes les femmes et tous les hommes des Nations Unies qui ont été tués – y compris certains avec leurs familles.

L’acheminement de l’aide doit être rétabli immédiatement, la sécurité du personnel des Nations Unies et des partenaires humanitaires doit être garantie et les entités des Nations Unies doivent pouvoir travailler dans le plein respect des principes humanitaires : humanité, impartialité, neutralité et indépendance.

Il ne doit y avoir aucune entrave à l’aide humanitaire, notamment au travail vital que fait l’UNRWA.

Il faut que tous les otages soient libérés immédiatement et sans conditions.

Et il faut un cessez-le-feu permanent.

Il est temps de mettre un terme aux déplacements répétés de la population de Gaza, ainsi qu’à la question des déplacements forcés en dehors de Gaza.

Et il faut cesser de bafouer le droit international.

J’engage tous les États Membres à user de leur influence pour que le droit international soit respecté et que l’impunité ne l’emporte pas.

Je veux parler notamment de la frappe du 19 mars contre une résidence des Nations Unies, qui a fait un mort et six blessés parmi nos collègues et pour laquelle Israël a désormais reconnu sa responsabilité … de l’attaque du 23 mars, dans laquelle du personnel paramédical et d’autres secouristes ont trouvé la mort à Rafah … et de bien d’autres encore.

Aucun acte ne saurait rester impuni.

Monsieur le Président,

Une procédure consultative a été engagée à la Cour internationale de Justice sur les obligations d’Israël, Puissance occupante et membre de l’ONU, en ce qui concerne la présence et les activités des entités des Nations Unies dans le Territoire palestinien occupé et en lien avec celui-ci.

En février, la Conseillère juridique de l’ONU a soumis en mon nom une déclaration écrite à la Cour, et hier, elle a fait une déclaration orale devant la Cour, également en mon nom.

Cette déclaration reprend des points que j’ai soulevés à plusieurs reprises.

En particulier, le fait que toutes les parties au conflit sont tenues de s’acquitter des obligations que leur impose le droit international, y compris le droit international humanitaire et le droit international des droits humains.

Qu’Israël, Puissance occupante, est tenu d’assurer l’approvisionnement de la population en produits alimentaires et fournitures médicales.

Qu’il est tenu d’accepter les programmes d’aide et d’en faciliter l’exécution dans le Territoire palestinien occupé.

Que le personnel humanitaire et médical, ainsi que le personnel des Nations Unies, doit être respecté et protégé.

Je tiens à insister sur l’obligation faite en droit international de respecter les privilèges et immunités des Nations Unies et de leur personnel, y compris l’inviolabilité absolue des locaux, des biens et des avoirs des Nations Unies, ainsi que l’immunité de juridiction des Nations Unies.

Cette immunité s’applique à toutes les entités des Nations Unies dans le Territoire palestinien occupé, y compris l’UNRWA, organe subsidiaire de l’Assemblée générale.

J’engage les États Membres à soutenir tous ces efforts.

Monsieur le Président,

En cette période de tourmente et de transition pour la région, les États Membres doivent énoncer clairement comment ils concrétiseront l’engagement qu’ils ont pris et la promesse qu’ils ont faite quant à la solution des deux États.

Ce n’est pas le moment d’exprimer rituellement son soutien, de cocher une case et de passer à autre chose.

Nous avons dépassé le stade des cases à cocher : le temps presse.

Pour la solution des deux États, le glas a presque sonné.

La communauté internationale a la responsabilité d’empêcher l’occupation et la violence perpétuelles.

L’appel que je leur lance est urgent et sans équivoque :

Prenez des mesures irréversibles pour concrétiser la solution des deux États.

Ne laissez pas les extrémistes de tout bord saper ce qu’il reste du processus de paix.

La Conférence de haut niveau qui se tiendra en juin, co-présidée par la France et le Royaume d’Arabie saoudite, est une véritable occasion de revitaliser le soutien international.

J’encourage les États membres à aller au-delà des affirmations et à réfléchir de manière créative aux mesures concrètes qu’ils prendront pour soutenir une solution viable à deux États avant qu’il ne soit trop tard.

J’encourage les États Membres à traduire les paroles en actes et à réfléchir de manière créative pour déterminer les mesures concrètes qu’ils prendront pour soutenir une solution viable de deux États – avant qu’il ne soit trop tard.

Parallèlement, l’Autorité palestinienne a besoin d’un soutien accru et durable, tant sur le plan politique que financièrement parlant. C’est une condition essentielle pour garantir la viabilité des institutions palestiniennes, asseoir les réformes engagées et permettre à l’Autorité palestinienne d’exercer de nouveau toutes ses responsabilités dans la bande de Gaza.

Monsieur le Président,

À ce moment charnière de l’histoire pour les peuples du Moyen-Orient – et vis-à-vis de cette question dont dépendent tant de choses – les dirigeants doivent concrétiser leur promesse.

Faites preuve de courage et de volonté politiques, tenez vos engagements vis-à-vis de cette question centrale pour la paix : pour les Palestiniens, les Israéliens, la région et l’humanité tout entière.

Je vous remercie.

MIL OSI Africa –

April 30, 2025
MIL-OSI Africa: Secretary-General’s remarks at the 2025 ECOSOC Forum on Financing for Development [Bilingual, as delivered; scroll down for All-English and All-French versions]

Source: United Nations – English

r. President of the General Assembly, Mr. President of ECOSOC,

Excellencies, ladies and gentlemen,

This year’s ECOSOC Forum comes at a pivotal time.

We are in the final stretch of preparations for the Fourth International Conference on Financing for Development in Sevilla.

And we face some harsh truths.

The harsh truth of donors pulling the plug on aid commitments and delivery at historic speed and scale.

The harsh truth of trade barriers being erected at a dizzying pace.

The harsh truth that the Sustainable Development Goals are dramatically off track, exacerbated by an annual financing gap of an estimated $4 trillion.

And the harsh truth of prohibitively high borrowing costs that are draining away public investments in everything from education and health systems, to social protection, infrastructure and the energy transition.

But there’s another, much larger — and more dangerous — truth underlying all these challenges:
The harsh truth that global collaboration is being actively questioned.

Look no further than trade wars.

Trade — fair trade — is a prime example of the benefits of international cooperation.

And trade barriers are a clear and present danger to the global economy and sustainable development – as demonstrated in recent sharply lower forecasts by the International Monetary Fund, UNCTAD, the World Trade Organization and many others.

In a trade war, everybody loses — especially the most vulnerable countries and people, who are hit the hardest.

Excellencies,

Against this turbulent background, we cannot let our financing for development ambitions get swept away.

With just five years to reach the Sustainable Development Goals, we need to shift into overdrive.

That includes making good on the commitments countries made in the Pact for the Future in September:

From an SDG stimulus to help countries invest in their people…

To vital and long-awaited reforms to the global financial architecture…

To the Pact’s clear commitments to open, fair and rules-based trade…

To its call for an analysis of the impact of military expenditures on the achievement of the SDGs, with a final report out by September…

To the Pact’s urging for an ambitious outcome to July’s Conference on Financing for Development.

As you continue negotiations on the draft outcome document for Sevilla, I push for action in three key areas.

First — on debt.

When applied smartly and fairly, debt can be an ally of development.

Instead, it has become a villain.

In many developing countries, gains are getting crushed under the weight of debt service, siphoning away investments in education, health and infrastructure.

And the problem is getting worse.

Debt service for developing economies has soared past $1.4 trillion a year.

Debt service now exceeds 10 per cent of government revenue in more than 50 developing countries — and more than 20 per cent in 17 countries — a clear warning sign of default.

The Sevilla Conference should emerge with a commitment by Member States to lower the cost of borrowing, improve debt restructuring, and prevent crises from taking hold.

This includes establishing a dedicated facility to help developing countries manage their liabilities and enhance liquidity in times of crisis.

The G20 must also continue its work to speed up the Common Framework for Debt Treatments and expand support for countries that are currently ineligible — including middle-income countries in difficulties.

And credit ratings agencies need to rethink ratings methodologies that drive up borrowing costs for developing countries.

At the same time, the IMF and World Bank should push forward on reforming debt assessments to account for sustainable development investments and climate risks.

These proposals and the many others contained in the draft outcome document provide an ambitious roadmap to help developing countries use debt in a constructive and sustainable way.

Second — we need to unlock the full potential of our international financial institutions.

If finance is the fuel of development, Multilateral Development Banks are its engine.

And this engine needs revving up.

We will keep pushing to triple the lending capacity of Multilateral Development Banks, making them bigger and bolder, as called for in the draft outcome document.

This includes recapitalization, stretching their balance sheets and substantially increasing their capacity to mobilize private finance at reasonable costs for developing countries.

We must ensure that concessional finance is deployed where it is most needed.

And we need to see that developing countries are represented fairly — and have a voice — in the governance of these institutions they depend on.

Troisièmement, nous devons prendre des mesures concrètes pour augmenter tous les flux de financement.

Oui, les temps sont durs.

Mais c’est d’autant plus dans les périodes difficiles qu’un investissement responsable et durable s’impose.

Au niveau national, les gouvernements doivent mobiliser davantage de ressources internes et les diriger vers des systèmes essentiels tels que l’éducation, la santé et les infrastructures…

Ils doivent collaborer avec des partenaires privés pour multiplier les options de financement mixte…

Et intensifier la lutte contre la corruption et les flux financiers illicites.

Au niveau mondial, nous devons poursuivre nos efforts en vue d’établir un régime fiscal mondial inclusif et efficace, et veiller à ce que les règles fiscales internationales soient effectivement et équitablement appliquées.

Les donateurs doivent tenir leurs promesses en matière d’aide publique au développement et s’assurer que ces précieuses ressources parviennent aux pays en développement.

Pour notre part, nous donnerons aux équipes de pays des Nations Unies tous les moyens pour collaborer avec les gouvernements hôtes, afin qu’un maximum de ressources soit affecté au développement durable aux niveaux national et régional.

Et nous saisirons toutes les occasions, y compris la COP30 au Brésil, pour demander aux dirigeants de trouver des sources innovantes de financement de l’action climatique dans les pays en développement – afin de mobiliser 1 300 milliards de dollars par an d’ici à 2035.

Tout cela exige des efforts particuliers en terme de sources innovantes de financement.

Excellences,

À bien des égards, l’avenir du système multilatéral dépend du financement du développement.

Il en va de notre conviction que le règlement des problèmes mondiaux – tels que la pauvreté, la faim et la crise climatique – demande des solutions mondiales.

Tirons le meilleur parti de ce moment charnière, alors que nous nous préparons pour la conférence de Séville.

Maintenons nos ambitions à la hauteur des enjeux, et agissons pour les populations et pour la planète.

Et je vous remercie.

***
[All-English]

Mr. President of the General Assembly, Mr. President of ECOSOC,

Excellencies, ladies and gentlemen,

This year’s ECOSOC Forum comes at a pivotal time.

We are in the final stretch of preparations for the Fourth International Conference on Financing for Development in Sevilla.

And we face some harsh truths.

The harsh truth of donors pulling the plug on aid commitments and delivery at historic speed and scale.

The harsh truth of trade barriers being erected at a dizzying pace.

The harsh truth that the Sustainable Development Goals are dramatically off track, exacerbated by an annual financing gap of an estimated $4 trillion.

And the harsh truth of prohibitively high borrowing costs that are draining away public investments in everything from education and health systems, to social protection, infrastructure and the energy transition.

But there’s another, much larger — and more dangerous — truth underlying all these challenges:

The harsh truth that global collaboration is being actively questioned.

Look no further than trade wars.

Trade — fair trade — is a prime example of the benefits of international cooperation.

And trade barriers are a clear and present danger to the global economy and sustainable development – as demonstrated in recent sharply lower forecasts by the International Monetary Fund, UNCTAD, the World Trade Organization and many others.

In a trade war, everybody loses — especially the most vulnerable countries and people, who are hit the hardest.

Excellencies,

Against this turbulent background, we cannot let our financing for development ambitions get swept away.

With just five years to reach the Sustainable Development Goals, we need to shift into overdrive.

That includes making good on the commitments countries made in the Pact for the Future in September:

From an SDG stimulus to help countries invest in their people…

To vital and long-awaited reforms to the global financial architecture…

To the Pact’s clear commitments to open, fair and rules-based trade…

To its call for an analysis of the impact of military expenditures on the achievement of the SDGs, with a final report out by September…

To the Pact’s urging for an ambitious outcome to July’s Conference on Financing for Development.

As you continue negotiations on the draft outcome document for Sevilla, I push for action in three key areas.

First — on debt.

When applied smartly and fairly, debt can be an ally of development.

Instead, it has become a villain.

In many developing countries, gains are getting crushed under the weight of debt service, siphoning away investments in education, health and infrastructure.

And the problem is getting worse.

Debt service for developing economies has soared past $1.4 trillion a year.

Debt service now exceeds 10 per cent of government revenue in more than 50 developing countries — and more than 20 per cent in 17 countries — a clear warning sign of default.

The Sevilla Conference should emerge with a commitment by Member States to lower the cost of borrowing, improve debt restructuring, and prevent crises from taking hold.

This includes establishing a dedicated facility to help developing countries manage their liabilities and enhance liquidity in times of crisis.

The G20 must also continue its work to speed up the Common Framework for Debt Treatments and expand support for countries that are currently ineligible — including middle-income countries in difficulties.

And credit ratings agencies need to rethink ratings methodologies that drive up borrowing costs for developing countries.

At the same time, the IMF and World Bank should push forward on reforming debt assessments to account for sustainable development investments and climate risks.

These proposals and the many others contained in the draft outcome document provide an ambitious roadmap to help developing countries use debt in a constructive and sustainable way.

Second — we need to unlock the full potential of our international financial institutions.

If finance is the fuel of development, Multilateral Development Banks are its engine.

And this engine needs revving up.

We will keep pushing to triple the lending capacity of Multilateral Development Banks, making them bigger and bolder, as called for in the draft outcome document.

This includes recapitalization, stretching their balance sheets and substantially increasing their capacity to mobilize private finance at reasonable costs for developing countries.

We must ensure that concessional finance is deployed where it is most needed.

And we need to see that developing countries are represented fairly — and have a voice — in the governance of these institutions they depend on.

And third — we need concrete action to increase all streams of finance.

Yes, these are tough times.

But it is in difficult periods that the imperative for responsible, sustainable investment is even more critical.

At the country level, governments need to strengthen the mobilization of domestic resources and channel them towards critical systems like education, health and infrastructure…

To work with private sector partners to increase blended finance options…

And to scale-up the fight against corruption and illicit financial flows.

At the global level, we must keep working to shape an inclusive and effective global tax regime, and ensure that international taxation rules are applied fairly and effectively.

Donors must keep their promises on official development assistance, and ensure those precious resources reach developing countries.

For our part, we will fully deploy our UN Country Teams to work with host governments to channel the maximum amount of resources towards sustainable development at the national and regional levels.

And we will use every opportunity — including COP30 in Brazil — to call on leaders to identify innovative sources of climate finance for developing countries leading to the mobilization of $1.3 trillion annually by 2035.

All this requires a focus on innovative sources of finance.

Excellencies,

In many ways, financing for development is integral to the future of the multilateral system.

It’s about our conviction in the power of global solutions to global problems like poverty, hunger and the climate crisis.

Let’s make the most of this critical moment as we prepare for Sevilla.

Let’s keep our ambitions high and deliver for people and planet.

And I thank you.

***
[All-French]

Monsieur le Président de l’Assemblée générale, Monsieur le Président de l’ECOSOC,

Excellences, Mesdames et Messieurs,

Le Forum du Conseil économique et social de cette année tombe à un moment charnière.

Les préparatifs de la quatrième Conférence internationale sur le financement du développement, qui se tiendra à Séville, entrent dans leur dernière ligne droite.

Parallèlement, nous nous heurtons à de dures réalités :

Des donateurs qui reviennent sur leurs engagements et renoncent à verser l’aide promise à une vitesse et à une ampleur sans précédent ;

Des barrières commerciales qui sont érigées à un rythme effréné ;

Des objectifs de développement durable qui sont encore bien loin d’être atteints et qui pâtissent d’un déficit de financement annuel estimé à 4 000 milliards de dollars ;

Ou encore des coûts d’emprunt prohibitifs qui tarissent les investissements publics dans tous les domaines, de l’éducation et des systèmes de santé à la protection sociale, en passant par les infrastructures et la transition énergétique.

Mais il y a une autre réalité – bien plus importante et bien plus dangereuse – qui est à la base de tous ces problèmes.

Cette réalité, c’est la remise en question de la collaboration internationale.

Inutile de chercher un exemple bien loin : prenons les guerres commerciales.

Le commerce – un commerce équitable – illustre parfaitement les avantages de la coopération internationale.

Les barrières commerciales constituent un danger réel et immédiat pour l’économie mondiale et le développement durable – comme le montrent les récentes prévisions en forte baisse du Fonds monétaire international, de la CNUCED, de l’Organisation mondiale du commerce et de bien d’autres organismes.

L’Organisation mondiale du commerce prévoit déjà que le commerce international de marchandises se contractera de 0,2 % cette année – un revirement brutal par rapport à la hausse de 2,9 % enregistrée l’année dernière.

Dans une guerre commerciale, tout le monde est perdant, en particulier les pays et les populations les plus vulnérables, qui sont les plus durement touchés.

Excellences,

Dans ce contexte mouvementé, nous ne pouvons laisser s’envoler nos ambitions en matière de financement du développement.

Il ne reste que cinq ans pour atteindre les objectifs de développement durable ; il nous faut donc passer à la vitesse supérieure.

Il faut notamment honorer les engagements pris par les pays dans le cadre du Pacte pour l’avenir en septembre :

Du plan de relance des objectifs de développement durable, qui vise à aider les pays à investir dans leurs populations…

Aux réformes vitales et longuement attendues de l’architecture financière mondiale…

Aux engagements clairs pris dans le Pacte en faveur d’un commerce ouvert, équitable et régi par des règles…

À l’analyse qui y est préconisée de l’impact des dépenses militaires sur la réalisation des objectifs de développement durable, qui fera l’objet d’un rapport final publié d’ici à septembre…

Et au résultat ambitieux qui y est fixé pour la Conférence internationale sur le financement du développement de juillet.

Alors que les négociations sur le projet de document final de Séville se poursuivent, j’insiste pour que des mesures soient prises dans trois domaines clés.

Premièrement, la dette.

Lorsqu’elle est exploitée de manière intelligente et équitable, la dette peut être une alliée du développement.

Or, elle est devenue une ennemie.

Dans bon nombre de pays en développement, les acquis obtenus dans le domaine du développement croulent sous le poids du service de la dette, qui ponctionne les investissements dans l’éducation, la santé et les infrastructures.

Et le problème ne fait qu’empirer.

Le service de la dette des économies en développement s’est envolé à plus de 1 400 milliards de dollars par an.

Il dépasse aujourd’hui de 10 % les recettes publiques dans plus de 50 pays en développement – et plus de 20 % dans 17 pays – un signe évident de défaillance.

À l’issue de la conférence de Séville, les États Membres devraient s’engager à réduire le coût des emprunts, à mieux restructurer la dette et à empêcher les crises de perdurer.

Pour ce faire, il faudra notamment mettre en place un dispositif pour aider les pays en développement à gérer leurs dettes et à améliorer leur situation de trésorerie en temps de crise.

Le G20 doit également poursuivre ses travaux afin d’accélérer la mise en œuvre du Cadre commun pour le traitement de la dette et d’apporter un plus grand appui aux pays qui ne remplissent pas les conditions requises pour bénéficier de l’Initiative de suspension du service de la dette, notamment les pays à revenu intermédiaire.

En outre, les agences de notation doivent revoir leurs méthodes, qui font grimper les coûts d’emprunt pour les pays en développement.

Dans le même temps, le FMI et la Banque mondiale devraient faire avancer la réforme de l’évaluation de la dette de sorte que les investissements dans le développement durable et les risques climatiques soient pris en compte.

Ces propositions, comme les nombreuses autres propositions faites dans le projet de document final, constituent un plan d’action ambitieux devant aider les pays en développement à utiliser la dette de manière constructive et durable.

Deuxièmement, nos institutions financières internationales doivent pouvoir exploiter tout leur potentiel.

Si le financement est le carburant du développement, les banques multilatérales de développement en sont le moteur.

Et ce moteur doit être rendu plus performant.

Nous continuerons à faire pression pour tripler la capacité de prêt des banques multilatérales de développement, en les agrandissant et en les rendant plus audacieuses, comme le prévoit le projet de document final.

Il s’agit notamment d’augmenter leur capital, d’étendre leurs bilans et d’accroître considérablement leur capacité à mobiliser des financements privés à des coûts raisonnables pour les pays en développement.

Il faudra également veiller à ce que des financements à des conditions favorables soient accordés là où ils sont le plus nécessaires.

Et il faudra que les pays en développement soient représentés équitablement – et aient voix au chapitre – dans la gouvernance de ces institutions, dont ils dépendent.

Troisièmement, nous devons prendre des mesures concrètes pour augmenter tous les flux de financement.

Oui, les temps sont durs.

Mais c’est d’autant plus dans les périodes difficiles qu’un investissement responsable et durable s’impose.

Au niveau national, les gouvernements doivent mobiliser davantage de ressources internes et les diriger vers des systèmes essentiels tels que l’éducation, la santé et les infrastructures…

Ils doivent collaborer avec des partenaires privés pour multiplier les options de financement mixte…

Et intensifier la lutte contre la corruption et les flux financiers illicites.

Au niveau mondial, nous devons poursuivre nos efforts en vue d’établir un régime fiscal mondial inclusif et efficace, et veiller à ce que les règles fiscales internationales soient effectivement et équitablement appliquées.
Les donateurs doivent tenir leurs promesses en matière d’aide publique au développement et s’assurer que ces précieuses ressources parviennent aux pays en développement.

Pour notre part, nous donnerons aux équipes de pays des Nations Unies tous les moyens pour collaborer avec les gouvernements hôtes, afin qu’un maximum de ressources soit affecté au développement durable aux niveaux national et régional.

Et nous saisirons toutes les occasions, y compris la COP30 au Brésil, pour demander aux dirigeants de trouver des sources innovantes de financement de l’action climatique dans les pays en développement – afin de mobiliser 1 300 milliards de dollars par an d’ici à 2035.

Tout cela exige des efforts particuliers en terme de sources innovantes de financement.

Excellences,

À bien des égards, l’avenir du système multilatéral dépend du financement du développement.

Il en va de notre conviction que le règlement des problèmes mondiaux – tels que la pauvreté, la faim et la crise climatique – demande des solutions mondiales.

Tirons le meilleur parti de ce moment charnière, alors que nous nous préparons pour la conférence de Séville.

Maintenons nos ambitions à la hauteur des enjeux, et agissons pour les populations et pour la planète.

Et je vous remercie.

MIL OSI Africa –

April 30, 2025
MIL-OSI United Nations: Secretary-General’s remarks at the 2025 ECOSOC Forum on Financing for Development [Bilingual, as delivered; scroll down for All-English and All-French versions]

Source: United Nations

Mr. President of the General Assembly, Mr. President of ECOSOC,

Excellencies, ladies and gentlemen,

This year’s ECOSOC Forum comes at a pivotal time.

We are in the final stretch of preparations for the Fourth International Conference on Financing for Development in Sevilla.

And we face some harsh truths.

The harsh truth of donors pulling the plug on aid commitments and delivery at historic speed and scale.

The harsh truth of trade barriers being erected at a dizzying pace.

The harsh truth that the Sustainable Development Goals are dramatically off track, exacerbated by an annual financing gap of an estimated $4 trillion.

And the harsh truth of prohibitively high borrowing costs that are draining away public investments in everything from education and health systems, to social protection, infrastructure and the energy transition.

But there’s another, much larger — and more dangerous — truth underlying all these challenges:
The harsh truth that global collaboration is being actively questioned.

Look no further than trade wars.

Trade — fair trade — is a prime example of the benefits of international cooperation.

And trade barriers are a clear and present danger to the global economy and sustainable development – as demonstrated in recent sharply lower forecasts by the International Monetary Fund, UNCTAD, the World Trade Organization and many others.

In a trade war, everybody loses — especially the most vulnerable countries and people, who are hit the hardest.

Excellencies,

Against this turbulent background, we cannot let our financing for development ambitions get swept away.

With just five years to reach the Sustainable Development Goals, we need to shift into overdrive.

That includes making good on the commitments countries made in the Pact for the Future in September:

From an SDG stimulus to help countries invest in their people…

To vital and long-awaited reforms to the global financial architecture…

To the Pact’s clear commitments to open, fair and rules-based trade…

To its call for an analysis of the impact of military expenditures on the achievement of the SDGs, with a final report out by September…

To the Pact’s urging for an ambitious outcome to July’s Conference on Financing for Development.

As you continue negotiations on the draft outcome document for Sevilla, I push for action in three key areas.

First — on debt.

When applied smartly and fairly, debt can be an ally of development.

Instead, it has become a villain.

In many developing countries, gains are getting crushed under the weight of debt service, siphoning away investments in education, health and infrastructure.

And the problem is getting worse.

Debt service for developing economies has soared past $1.4 trillion a year.

Debt service now exceeds 10 per cent of government revenue in more than 50 developing countries — and more than 20 per cent in 17 countries — a clear warning sign of default.

The Sevilla Conference should emerge with a commitment by Member States to lower the cost of borrowing, improve debt restructuring, and prevent crises from taking hold.

This includes establishing a dedicated facility to help developing countries manage their liabilities and enhance liquidity in times of crisis.

The G20 must also continue its work to speed up the Common Framework for Debt Treatments and expand support for countries that are currently ineligible — including middle-income countries in difficulties.

And credit ratings agencies need to rethink ratings methodologies that drive up borrowing costs for developing countries.

At the same time, the IMF and World Bank should push forward on reforming debt assessments to account for sustainable development investments and climate risks.

These proposals and the many others contained in the draft outcome document provide an ambitious roadmap to help developing countries use debt in a constructive and sustainable way.

Second — we need to unlock the full potential of our international financial institutions.

If finance is the fuel of development, Multilateral Development Banks are its engine.

And this engine needs revving up.

We will keep pushing to triple the lending capacity of Multilateral Development Banks, making them bigger and bolder, as called for in the draft outcome document.

This includes recapitalization, stretching their balance sheets and substantially increasing their capacity to mobilize private finance at reasonable costs for developing countries.

We must ensure that concessional finance is deployed where it is most needed.

And we need to see that developing countries are represented fairly — and have a voice — in the governance of these institutions they depend on.

Troisièmement, nous devons prendre des mesures concrètes pour augmenter tous les flux de financement.

Oui, les temps sont durs.

Mais c’est d’autant plus dans les périodes difficiles qu’un investissement responsable et durable s’impose.

Au niveau national, les gouvernements doivent mobiliser davantage de ressources internes et les diriger vers des systèmes essentiels tels que l’éducation, la santé et les infrastructures…

Ils doivent collaborer avec des partenaires privés pour multiplier les options de financement mixte…

Et intensifier la lutte contre la corruption et les flux financiers illicites.

Au niveau mondial, nous devons poursuivre nos efforts en vue d’établir un régime fiscal mondial inclusif et efficace, et veiller à ce que les règles fiscales internationales soient effectivement et équitablement appliquées.

Les donateurs doivent tenir leurs promesses en matière d’aide publique au développement et s’assurer que ces précieuses ressources parviennent aux pays en développement.

Pour notre part, nous donnerons aux équipes de pays des Nations Unies tous les moyens pour collaborer avec les gouvernements hôtes, afin qu’un maximum de ressources soit affecté au développement durable aux niveaux national et régional.

Et nous saisirons toutes les occasions, y compris la COP30 au Brésil, pour demander aux dirigeants de trouver des sources innovantes de financement de l’action climatique dans les pays en développement – afin de mobiliser 1 300 milliards de dollars par an d’ici à 2035.

Tout cela exige des efforts particuliers en terme de sources innovantes de financement.

Excellences,

À bien des égards, l’avenir du système multilatéral dépend du financement du développement.

Il en va de notre conviction que le règlement des problèmes mondiaux – tels que la pauvreté, la faim et la crise climatique – demande des solutions mondiales.

Tirons le meilleur parti de ce moment charnière, alors que nous nous préparons pour la conférence de Séville.

Maintenons nos ambitions à la hauteur des enjeux, et agissons pour les populations et pour la planète.

Et je vous remercie.

***
[All-English]

Mr. President of the General Assembly, Mr. President of ECOSOC,

Excellencies, ladies and gentlemen,

This year’s ECOSOC Forum comes at a pivotal time.

We are in the final stretch of preparations for the Fourth International Conference on Financing for Development in Sevilla.

And we face some harsh truths.

The harsh truth of donors pulling the plug on aid commitments and delivery at historic speed and scale.

The harsh truth of trade barriers being erected at a dizzying pace.

The harsh truth that the Sustainable Development Goals are dramatically off track, exacerbated by an annual financing gap of an estimated $4 trillion.

And the harsh truth of prohibitively high borrowing costs that are draining away public investments in everything from education and health systems, to social protection, infrastructure and the energy transition.

But there’s another, much larger — and more dangerous — truth underlying all these challenges:

The harsh truth that global collaboration is being actively questioned.

Look no further than trade wars.

Trade — fair trade — is a prime example of the benefits of international cooperation.

And trade barriers are a clear and present danger to the global economy and sustainable development – as demonstrated in recent sharply lower forecasts by the International Monetary Fund, UNCTAD, the World Trade Organization and many others.

In a trade war, everybody loses — especially the most vulnerable countries and people, who are hit the hardest.

Excellencies,

Against this turbulent background, we cannot let our financing for development ambitions get swept away.

With just five years to reach the Sustainable Development Goals, we need to shift into overdrive.

That includes making good on the commitments countries made in the Pact for the Future in September:

From an SDG stimulus to help countries invest in their people…

To vital and long-awaited reforms to the global financial architecture…

To the Pact’s clear commitments to open, fair and rules-based trade…

To its call for an analysis of the impact of military expenditures on the achievement of the SDGs, with a final report out by September…

To the Pact’s urging for an ambitious outcome to July’s Conference on Financing for Development.

As you continue negotiations on the draft outcome document for Sevilla, I push for action in three key areas.

First — on debt.

When applied smartly and fairly, debt can be an ally of development.

Instead, it has become a villain.

In many developing countries, gains are getting crushed under the weight of debt service, siphoning away investments in education, health and infrastructure.

And the problem is getting worse.

Debt service for developing economies has soared past $1.4 trillion a year.

Debt service now exceeds 10 per cent of government revenue in more than 50 developing countries — and more than 20 per cent in 17 countries — a clear warning sign of default.

The Sevilla Conference should emerge with a commitment by Member States to lower the cost of borrowing, improve debt restructuring, and prevent crises from taking hold.

This includes establishing a dedicated facility to help developing countries manage their liabilities and enhance liquidity in times of crisis.

The G20 must also continue its work to speed up the Common Framework for Debt Treatments and expand support for countries that are currently ineligible — including middle-income countries in difficulties.

And credit ratings agencies need to rethink ratings methodologies that drive up borrowing costs for developing countries.

At the same time, the IMF and World Bank should push forward on reforming debt assessments to account for sustainable development investments and climate risks.

These proposals and the many others contained in the draft outcome document provide an ambitious roadmap to help developing countries use debt in a constructive and sustainable way.

Second — we need to unlock the full potential of our international financial institutions.

If finance is the fuel of development, Multilateral Development Banks are its engine.

And this engine needs revving up.

We will keep pushing to triple the lending capacity of Multilateral Development Banks, making them bigger and bolder, as called for in the draft outcome document.

This includes recapitalization, stretching their balance sheets and substantially increasing their capacity to mobilize private finance at reasonable costs for developing countries.

We must ensure that concessional finance is deployed where it is most needed.

And we need to see that developing countries are represented fairly — and have a voice — in the governance of these institutions they depend on.

And third — we need concrete action to increase all streams of finance.

Yes, these are tough times.

But it is in difficult periods that the imperative for responsible, sustainable investment is even more critical.

At the country level, governments need to strengthen the mobilization of domestic resources and channel them towards critical systems like education, health and infrastructure…

To work with private sector partners to increase blended finance options…

And to scale-up the fight against corruption and illicit financial flows.

At the global level, we must keep working to shape an inclusive and effective global tax regime, and ensure that international taxation rules are applied fairly and effectively.

Donors must keep their promises on official development assistance, and ensure those precious resources reach developing countries.

For our part, we will fully deploy our UN Country Teams to work with host governments to channel the maximum amount of resources towards sustainable development at the national and regional levels.

And we will use every opportunity — including COP30 in Brazil — to call on leaders to identify innovative sources of climate finance for developing countries leading to the mobilization of $1.3 trillion annually by 2035.

All this requires a focus on innovative sources of finance.

Excellencies,

In many ways, financing for development is integral to the future of the multilateral system.

It’s about our conviction in the power of global solutions to global problems like poverty, hunger and the climate crisis.

Let’s make the most of this critical moment as we prepare for Sevilla.

Let’s keep our ambitions high and deliver for people and planet.

And I thank you.

***
[All-French]

Monsieur le Président de l’Assemblée générale, Monsieur le Président de l’ECOSOC,

Excellences, Mesdames et Messieurs,

Le Forum du Conseil économique et social de cette année tombe à un moment charnière.

Les préparatifs de la quatrième Conférence internationale sur le financement du développement, qui se tiendra à Séville, entrent dans leur dernière ligne droite.

Parallèlement, nous nous heurtons à de dures réalités :

Des donateurs qui reviennent sur leurs engagements et renoncent à verser l’aide promise à une vitesse et à une ampleur sans précédent ;

Des barrières commerciales qui sont érigées à un rythme effréné ;

Des objectifs de développement durable qui sont encore bien loin d’être atteints et qui pâtissent d’un déficit de financement annuel estimé à 4 000 milliards de dollars ;

Ou encore des coûts d’emprunt prohibitifs qui tarissent les investissements publics dans tous les domaines, de l’éducation et des systèmes de santé à la protection sociale, en passant par les infrastructures et la transition énergétique.

Mais il y a une autre réalité – bien plus importante et bien plus dangereuse – qui est à la base de tous ces problèmes.

Cette réalité, c’est la remise en question de la collaboration internationale.

Inutile de chercher un exemple bien loin : prenons les guerres commerciales.

Le commerce – un commerce équitable – illustre parfaitement les avantages de la coopération internationale.

Les barrières commerciales constituent un danger réel et immédiat pour l’économie mondiale et le développement durable – comme le montrent les récentes prévisions en forte baisse du Fonds monétaire international, de la CNUCED, de l’Organisation mondiale du commerce et de bien d’autres organismes.

L’Organisation mondiale du commerce prévoit déjà que le commerce international de marchandises se contractera de 0,2 % cette année – un revirement brutal par rapport à la hausse de 2,9 % enregistrée l’année dernière.

Dans une guerre commerciale, tout le monde est perdant, en particulier les pays et les populations les plus vulnérables, qui sont les plus durement touchés.

Excellences,

Dans ce contexte mouvementé, nous ne pouvons laisser s’envoler nos ambitions en matière de financement du développement.

Il ne reste que cinq ans pour atteindre les objectifs de développement durable ; il nous faut donc passer à la vitesse supérieure.

Il faut notamment honorer les engagements pris par les pays dans le cadre du Pacte pour l’avenir en septembre :

Du plan de relance des objectifs de développement durable, qui vise à aider les pays à investir dans leurs populations…

Aux réformes vitales et longuement attendues de l’architecture financière mondiale…

Aux engagements clairs pris dans le Pacte en faveur d’un commerce ouvert, équitable et régi par des règles…

À l’analyse qui y est préconisée de l’impact des dépenses militaires sur la réalisation des objectifs de développement durable, qui fera l’objet d’un rapport final publié d’ici à septembre…

Et au résultat ambitieux qui y est fixé pour la Conférence internationale sur le financement du développement de juillet.

Alors que les négociations sur le projet de document final de Séville se poursuivent, j’insiste pour que des mesures soient prises dans trois domaines clés.

Premièrement, la dette.

Lorsqu’elle est exploitée de manière intelligente et équitable, la dette peut être une alliée du développement.

Or, elle est devenue une ennemie.

Dans bon nombre de pays en développement, les acquis obtenus dans le domaine du développement croulent sous le poids du service de la dette, qui ponctionne les investissements dans l’éducation, la santé et les infrastructures.

Et le problème ne fait qu’empirer.

Le service de la dette des économies en développement s’est envolé à plus de 1 400 milliards de dollars par an.

Il dépasse aujourd’hui de 10 % les recettes publiques dans plus de 50 pays en développement – et plus de 20 % dans 17 pays – un signe évident de défaillance.

À l’issue de la conférence de Séville, les États Membres devraient s’engager à réduire le coût des emprunts, à mieux restructurer la dette et à empêcher les crises de perdurer.

Pour ce faire, il faudra notamment mettre en place un dispositif pour aider les pays en développement à gérer leurs dettes et à améliorer leur situation de trésorerie en temps de crise.

Le G20 doit également poursuivre ses travaux afin d’accélérer la mise en œuvre du Cadre commun pour le traitement de la dette et d’apporter un plus grand appui aux pays qui ne remplissent pas les conditions requises pour bénéficier de l’Initiative de suspension du service de la dette, notamment les pays à revenu intermédiaire.

En outre, les agences de notation doivent revoir leurs méthodes, qui font grimper les coûts d’emprunt pour les pays en développement.

Dans le même temps, le FMI et la Banque mondiale devraient faire avancer la réforme de l’évaluation de la dette de sorte que les investissements dans le développement durable et les risques climatiques soient pris en compte.

Ces propositions, comme les nombreuses autres propositions faites dans le projet de document final, constituent un plan d’action ambitieux devant aider les pays en développement à utiliser la dette de manière constructive et durable.

Deuxièmement, nos institutions financières internationales doivent pouvoir exploiter tout leur potentiel.

Si le financement est le carburant du développement, les banques multilatérales de développement en sont le moteur.

Et ce moteur doit être rendu plus performant.

Nous continuerons à faire pression pour tripler la capacité de prêt des banques multilatérales de développement, en les agrandissant et en les rendant plus audacieuses, comme le prévoit le projet de document final.

Il s’agit notamment d’augmenter leur capital, d’étendre leurs bilans et d’accroître considérablement leur capacité à mobiliser des financements privés à des coûts raisonnables pour les pays en développement.

Il faudra également veiller à ce que des financements à des conditions favorables soient accordés là où ils sont le plus nécessaires.

Et il faudra que les pays en développement soient représentés équitablement – et aient voix au chapitre – dans la gouvernance de ces institutions, dont ils dépendent.

Troisièmement, nous devons prendre des mesures concrètes pour augmenter tous les flux de financement.

Oui, les temps sont durs.

Mais c’est d’autant plus dans les périodes difficiles qu’un investissement responsable et durable s’impose.

Au niveau national, les gouvernements doivent mobiliser davantage de ressources internes et les diriger vers des systèmes essentiels tels que l’éducation, la santé et les infrastructures…

Ils doivent collaborer avec des partenaires privés pour multiplier les options de financement mixte…

Et intensifier la lutte contre la corruption et les flux financiers illicites.

Au niveau mondial, nous devons poursuivre nos efforts en vue d’établir un régime fiscal mondial inclusif et efficace, et veiller à ce que les règles fiscales internationales soient effectivement et équitablement appliquées.
Les donateurs doivent tenir leurs promesses en matière d’aide publique au développement et s’assurer que ces précieuses ressources parviennent aux pays en développement.

Pour notre part, nous donnerons aux équipes de pays des Nations Unies tous les moyens pour collaborer avec les gouvernements hôtes, afin qu’un maximum de ressources soit affecté au développement durable aux niveaux national et régional.

Et nous saisirons toutes les occasions, y compris la COP30 au Brésil, pour demander aux dirigeants de trouver des sources innovantes de financement de l’action climatique dans les pays en développement – afin de mobiliser 1 300 milliards de dollars par an d’ici à 2035.

Tout cela exige des efforts particuliers en terme de sources innovantes de financement.

Excellences,

À bien des égards, l’avenir du système multilatéral dépend du financement du développement.

Il en va de notre conviction que le règlement des problèmes mondiaux – tels que la pauvreté, la faim et la crise climatique – demande des solutions mondiales.

Tirons le meilleur parti de ce moment charnière, alors que nous nous préparons pour la conférence de Séville.

Maintenons nos ambitions à la hauteur des enjeux, et agissons pour les populations et pour la planète.

Et je vous remercie.

MIL OSI United Nations News –

April 30, 2025
MIL-OSI Security: Former Monmouth County Resident Sentenced to 16 Years in Prison for Role in Fraudulently Obtaining Over $3.7 Million in Cares Act Loans

Source: Office of United States Attorneys

NEWARK, N.J. – A former resident of Monmouth County was sentenced to prison for his role in a scheme to fraudulently obtain Payroll Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) funds, U.S. Attorney Alina Habba announced.

Kevin Aguilar, age 54, previously of Farmingdale, New Jersey, was sentenced by U.S. District Judge Michael A. Shipp in Trenton federal court following Aguilar’s guilty plea to one count of conspiracy to commit bank fraud; seven counts of bank fraud; one count of conspiracy to commit wire fraud; three counts of wire fraud; one count of conspiracy to commit money laundering; one count of money laundering; and one count of aggravated identity theft. Aguilar was sentenced to 192 months in prison.

According to documents filed in this case and statements made in court:

From April 2020 to April 2021, Aguilar conspired with others to submit seven fraudulent PPP loan applications and three fraudulent EIDL applications on behalf of four businesses. Based on the fraudulent applications, Aguilar received a total of approximately $3.3 million in PPP loan funds and approximately $450,000 in EIDL funds. After receiving the PPP and EIDL funds, Aguilar caused those funds to be transferred to other businesses that he created to give the false appearance that the PPP and EIDL funds were being used for legitimate purposes. Aguilar then used the PPP and EIDL funds to purchase residential properties in Sherman, Texas, a new truck for approximately $100,000, and to pay for other personal expenses.

In addition to the 192-month prison term, Judge Shipp sentenced Aguilar to 5 years of supervised release and ordered him to pay $3,772,567 in restitution, as well as a forfeiture money judgment of $3,772,567. Judge Shipp also ordered the forfeiture of approximately $1,511,221.62 that law enforcement seized from twelve bank accounts, as well as the three real properties in Sherman, Texas.

U.S. Attorney Habba credited special agents of the Federal Deposit Insurance Corporation – Office of Inspector General, under the direction of Special Agent in Charge Patricia Tarasca in New York; IRS – Criminal Investigation, under the direction of Special Agent in Charge Jenifer Piovesan; special agents of the Social Security Administration, Office of the Inspector General, under the direction of Acting Special Agent in Charge Amy Connelly; postal inspectors of the U.S. Postal Inspection Service, under the direction of Inspector in Charge Christopher A. Nielsen; special agents of the Federal Housing Finance Agency, Office of Inspector General, under the direction of Special Agent in Charge Robert Manchak; and special agents of the U.S. Attorney’s Office for the District of New Jersey, under the direction of Special Agent in Charge Thomas Mahoney.

The government is represented by Assistant U.S. Attorney David V. Simunovich of the U.S. Attorney’s Office’s Health Care Fraud Unit, Assistant U.S. Attorney Jennifer S. Kozar, of the U.S. Attorney’s Office’s Economic Crimes United in Newark, and Assistant U.S. Attorney Peter Laserna of the U.S. Attorney’s Office’s Bank Integrity, Money Laundering, and Recovery Unit.

The District of New Jersey COVID-19 Fraud Enforcement Strike Force is one of the five strike forces established throughout the United States by the U.S. Department of Justice to investigate and prosecute COVID-19 fraud. The strike forces focus on large-scale, multi-state pandemic relief fraud perpetrated by criminal organizations and transnational actors. The strike forces are interagency law enforcement efforts, using prosecutor-led and data analyst-driven teams designed to identify and bring to justice those who stole pandemic relief funds.

Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

###

Defense counsel: Alyssa Cimino, Esq., Fairfield, New Jersey; Robert Brady, Esq., Newton, New Jersey

MIL Security OSI –

April 30, 2025
MIL-OSI USA: Record Attendance at 30th Annual NREL Industry Growth Forum as Innovation Soars
Source: US National Renewable Energy Laboratory

[embedded content]

Text version

History was made this year at the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) Industry Growth Forum (IGF), and not only because it celebrated the 30^th anniversary of the event. The IGF also reached a record high number for attendance: more than 1,000 people

“Thank you all for being here for this milestone anniversary,” NREL Director Martin Keller said during his welcoming remarks. “For 30 years, this forum has brought together the energy ecosystem. You help NREL understand industry challenges, refine our research priorities to address real-world needs, and accelerate market adoption of new technologies. NREL benefits from your market insights and challenges, and you benefit from our technical expertise and research capabilities. This two-way exchange is why the IGF has thrived for 30 years.”

Held March 26–28, 2025, at the Sheraton Hotel in downtown Denver, Colorado, the event featured several new opportunities for investors, startups, and other industry professionals. The theme of the event was unlocking value, inspiring the creation of original programming aimed at leveraging the power of the IGF.

More than 1,000 people attended the 2025 NREL Industry Growth Forum. Photo by Kira Vos

Attendees focused on bringing innovative energy solutions to the market, including battery construction, novel ways to power buildings, and maximizing energy efficiency to lower costs. The event included new programs such as a reverse pitch session, a spotlight of companies that are part of NREL’s Innovation and Entrepreneurship Center (IEC) portfolio, Growth Stage dialogues, resource roundtables, and more.

“What a difference 30 years makes,” IEC Director Trish Cozart said during her opening remarks. “Since the first NREL Industry Growth Forum, we’ve increased the size of the event by tenfold, and while our computers are eight orders of magnitude more powerful than they were 30 years ago, one thing that has not changed is that the key to unlocking value in this business is people. No matter how much compute power we build, I believe 30 years from now, we will still be sitting across the table talking to each other.”

Networking has always been at the core of IGF, and this year was no different with nearly 3,000 meetings held. The marquee event for many attendees was the one-on-one meetings between startups and investors. During this 3.5-hour session, each startup and investor had 10 minutes to talk during each prescheduled meeting before moving on to the next.

The IGF also featured a competition where 52 different presenters pitched in front of panels of investor judges and then received questions and scores from the judges. The pitch competition awarded top ventures across several stages: Growth, Commercialization, Pre-Commercialization, and Early. Other categories awarded included Best International Venture (for the first time), People’s Choice, and Best Overall Venture.

First-Time Attending Startup Seeks Connections

One of those participating in the Early-Stage pitch competition was first-time IGF attendee Michael Solomentsev, co-founder and CEO of Palanquin Power. Solomentsev is also in NREL’s Lab-Embedded Entrepreneurship Program, West Gate. Palanquin helps make data centers more efficient using advanced power electronics, and Solomentsev often describes the technology by pointing to a laptop charger.

Michael Solomentsev, co-founder and CEO of Palanquin Power, delivers his pitch during his session at the IGF. Solomentsev is also in NREL’s Lab-Embedded Entrepreneurship Program, West Gate. Photo from Kira Vos

“With that type of device, you don’t really care if it’s 80% or 90% efficient,” Solomentsev said. “But a data center has the same need for power conversion, and each percentage point means much more power on that scale, so they have a huge premium for efficiency. Our approach enables efficiencies that no one else can achieve.”

West Gate provides participants technical support via a two-year program at NREL, working with experts to help further develop technology. Solomentsev has about 18 months left in the program, and leading up to the IGF, he was very excited about the one-on-one meetings.

“Meeting that many investors and who are in the particular niche I inhabit, it’s worth its weight in gold,” Solomentsev said.

Long-Time Investor Advises Multiple Entrepreneurs

Tim Woodward, managing director of Prelude Ventures, began coming to the IGF just after its creation in the 1990s. His firm typically funds companies before first revenue with a Seed or Series A check and continues the relationship through commercialization to scaling.

“There really isn’t another event that happens at this scale that brings this many investors and companies together,” he said. “There isn’t an equivalent.”

Over the years, Woodward has acted multiple times as a member of the selection committee that chooses the startups to present at the event).

“I’ve been coming to this for almost all 30 years,” Woodward said. “From a gathering of 50 to 100 investors and startups to more than 1,000 people today, it’s really become the place to be for industry investors and startups.”

Accelerator Looks for Technologies To Take Home

Suzanna Caldwell, tech deployment track manager for Launch Alaska, came to the IGF seeking to expand her program’s reach. Launch Alaska, based in Anchorage, is an eight-month accelerator program for companies to develop technologies in the Alaska environment.

“It’s always great when you find a technology and the innovators are interested in Alaska,” Caldwell said. “It’s amazing to make those connections in a place like this far from home. It’s inspiring. At the end of it, I walk away saying: ‘Wow, this is such a cool space.’”

Several companies in the Launch Alaska portfolio came to this year’s IGF, which Caldwell thinks is an invaluable experience for both her accelerator and the innovators.

“I don’t know of other conferences that are like this,” she said, “that bring together so much diversity in the marketplace. I’m really impressed by NREL’s ability to bring this together.”

Bob O’Connor, a partner in the Wilson Sonsini law firm, gave the keynote speech at the closing session. Photo from Kira Vos

Startup Service Provider Keeps Coming Back Each Year

Law firm Wilson Sonsini began sponsoring the IGF several years ago. Bob O’Connor, a partner in the law firm, said the relationship dates back to 2003, when one of the first innovative energy technology companies he represented also happened to be a spinoff that was commercializing NREL-created technology.

“People come to the IGF in order to ascertain what’s next,” O’Connor said. “It is a bit like coming home in many respects. It’s always a great opportunity to see all the key players in the industry catching up and sharing stories, vulnerabilities, and accomplishments. I’ve always thought of NREL as quite literally the most optimistic place on earth. If you aren’t sure we as a community, or as an industry, can meet the challenges ahead of us, come to IGF. The answers are probably here!”

O’Connor gave a keynote address on Friday, March 28, where he focused on what NREL means to the community.

“NREL brings us optimism, and optimism requires resilience. Optimism doesn’t come cheap,” O’Connor said. “Yet, resilience is an opportunity, and that is why the community is rallying around NREL. To me, NREL is resilience.”

Resource Roundtables were among the several new programs offered at the 2025 IGF. Photo from Kira Vos

New Programs Offer New Opportunities

Solomentsev took part in several of the new programs at this year’s IGF, including the IEC Spotlight session. This invite-only event brought together investors and industry professionals for special pitches from 10 startups that came from IEC programs such as the Wells Fargo Innovation Incubator (IN2), the Shell GameChanger Powered by NREL (GCxN), West Gate, and Chevron Studio.

The spotlight was just one of several new programs. The others included:
- Industry Reverse Pitches: In addition to the regular pitch competition, the IGF hosted a reverse pitch session during the event. Executives with Wells Fargo, Shell, Fortescue, National Grid, Halliburton Labs, and Chevron gave short presentations about what they are looking for from startups to advance their businesses and when considering what to invest in.
- Resource Roundtables: Hosted by service providers, these sessions included advice from lawyers, accountants, and technical analysis companies. Advisors chose topics and answered questions from startups based on their areas of expertise.
- Growth Stage Dialogues: Companies pitching in the Growth Stage met with investors and other stakeholders for 25-minute sessions outside of the pitch competition. The conversations delved into legal issues, insurance questions, and how to bring in partners.
- International Competition: Earlier in 2025, NREL held, a virtual competition for organizations headquartered outside of the United States, Canada, and Europe. The winner, Ampersand, based out of Kigali, Rwanda, was invited to pitch at the in-person IGF, where the company also earned the award for Best Growth Venture.
- Developer University: As a customized offering for the IGF, project development and project finance experts from CREO, Spring Lane Capital, and Wilson Sonsini delivered a snapshot of their Developer University curriculum. The morning session provided attendees with a crash course on the practical tools and strategies used for project development and the finance and legal structures that enable first-of-a-kind energy deployments.
- NREL Tech Talks: Startups and investors alike benefited from discussions with NREL researchers who shared the state of innovation in 30-minute talks spanning across advanced solar manufacturing, built environment, the grid, critical materials and batteries.
Attendees at the Industry Growth Forum participated in nearly 3,000 meetings over the course of the event. Photo by Kira Vos

Face-to-Face Meetings Encourage Innovation

Nearly 3,000 meetings were held at this year’s IGF, many of them during the must-attend one-on-one sessions. A longtime IGF attendee, Woodward treats the one-on-one sessions like office hours.

“In a perfect world, you come across a company that’s interesting and that you want to continue to do due diligence on, and that ultimately leads to an investment,” he said.

Two of the companies Woodward met with early on are from the West Gate portfolio. He asked pointed questions, tracking responses to challenges and opportunities. His advice for innovators remained consistent.

“Control what you can control, keep your head down, plug away, and build a good team,” he said.

Solomentsev met with 15 to 20 investors during the IGF, many of them during the one-on-one session.

Palanquin Power CEO Michael Solomentsev (left) met with 15 to 20 investors, many during the one-on-one meeting session. Photo by Kira Vos

“It was really high value,” he said. “I loved the one-on-ones; I loved meeting a lot of people. I like learning about what other people are doing, and some of my most pleasant conversations are the ones with zero stakes where you’re just talking to another startup and then maybe there’s an introduction or a lead that comes out of that.”

The meetings at the IGF saved him months of work, by bringing everyone together as only NREL can.

“The reputation of the event, of NREL and the IEC, and their ability to attract great people and get them to come to Denver for this is unparalleled,” Solomentsev said.

The Incubator/Accelerator Open House took place at the same time as the one-on-one meetings. The open house provided an opportunity for incubators and accelerators to set up tables in the expo hall and connect with startups, investors, and other IGF attendees to share information about their organizations and services.

“That was so great for me,” Caldwell said. “If I wasn’t able to schedule time with folks, I could at least connect with them then, make eye contact, and say hello because everyone is friendly and willing to support you. Even if you meet someone that’s outside of the sphere you’re working in, there’s probably connections to be made.”

Six startups won awards at the 2025 IGF. Photo from Kira Vos

Award Winners and Beyond

Before the closing remarks of the conference, Cozart announced the winners of the pitch competition awards. Solomentsev was among the winners, earning the Best Early Venture award for Palanquin Power.

“I’m very excited—I’m very happy to have won the award,” Solomentsev said. “It is very nice to get some sort of validation that people think the core business is a big enough opportunity.”

Learn more about the winners.

“I hope this forum has brought you promising new connections and opportunities,” Cozart said during the closing remarks. “Startups out there, you see things that other people can’t see. Investors, you are bold because you believe in a future that only innovators can see. I look around this room and I see the future. I can’t wait to see the value that’s unlocked from the last couple of days.”

To learn more about the IGF, visit www.nrelforum.com.

MIL OSI USA News –
April 30, 2025
MIL-OSI USA: Governor Stein Proclaims April as World Autism Month

Source: US State of North Carolina

Headline: Governor Stein Proclaims April as World Autism Month

Governor Stein Proclaims April as World Autism Month
lsaito
Tue, 04/29/2025 – 13:17

Raleigh, NC

Governor Josh Stein has proclaimed April as World Autism Month in North Carolina to raise awareness and recognize individuals with autism spectrum disorder (ASD), their families, and organizations working to support them.

“I am proud to recognize North Carolinians with autism, their families, and organizations across the state that educate us about the unique challenges people with autism face from early childhood,” said Governor Josh Stein. “To help people with autism thrive, schools, families, and organizations need resources to ensure that the students reach their full potential.”

Autism spectrum disorder is a neurological and developmental disorder that begins early in childhood and consists of a broad range of conditions characterized by challenges with social skills, repetitive behaviors, speech and nonverbal communication. The Center for Disease Control and Prevention (CDC) estimates that ASD affects approximately 1 in 36 children.

North Carolina is at the forefront of innovative workforce programs for individuals with autism. In 2018, the North Carolina Business Committee for Education (NCBCE), a work-based learning and education focused nonprofit housed in the Office of the Governor, helped to launch the LiNC-IT Collaborative. LiNC-IT was created to facilitate paid employment experiences for students and professionals with autism, as well as to provide employers with a pipeline of excellent talent often missed during conventional recruitment processes. You can hear from LiNC-IT employers and participants in this video. The successful LiNC-IT model will be expanded on through NC Career Launch.

March 2025 marked the sixth anniversary of Executive Order 92: Employment First for North Carolinians with Disabilities. The executive order charged state agencies with facilitating welcoming environments across state government where individuals with disabilities could successfully participate in competitive, integrated employment. State employees have credited the designation of North Carolina as an Employment First state with creating a more supportive environment for state employees with disabilities.

Governor Stein’s proposed budget recommends investments to help with autism thrive, including increased funding for vocational rehabilitation, recruiting and retaining direct support professionals, education for children with disabilities, and additional slots for the Medicaid Innovations Waiver.

To learn more about Autism Spectrum Disorder, visit the UNC TEACCH Autism Center, the Autism Society of North Carolina and the Duke Center for Autism and Brain Development. For more information on LiNC-IT or to get involved, visit the LiNC-IT website or email NCBCEadmin@nc.gov.

Read Governor Stein’s full proclamation.

Apr 29, 2025

MIL OSI USA News –

April 30, 2025
MIL-OSI USA: Energy and Commerce Committee Republicans Oppose McClellan Measures to Prevent Further Mass Firings at U.S. Health Agencies

Source: United States House of Representatives – Congresswoman Jennifer McClellan (Virginia 4th District)

Washington, D.C. – Today, Congresswoman Jennifer McClellan (VA-04) called on her Republican colleagues on the House Energy and Commerce Committee to support measures to prohibit further mass firings at U.S. health agencies after the Trump Administration and Elon Musk’s widespread health personnel layoffs last month.

During a Committee markup of bills, including H.R. 2483, the SUPPORT for Patients and Communities Reauthorization Act of 2025, McClellan offered two amendments to prohibit further reductions in force (RIFs) at the Centers for Disease Control and Prevention and Substance Abuse and Mental Health Services Administration.

Both were unanimously opposed by Committee Republicans.

“This Administration haphazardly purged thousands of personnel from U.S. health agencies responsible for supporting lifesaving cancer research, managing measles outbreaks, ensuring medication safety and efficacy, and combating opioid addiction,” said Congresswoman McClellan. “These cuts will delay critical treatments and place even greater pressure on already strained state and local health agencies, many of which are also facing federal funding reductions. The Trump Administration’s actions force these agencies into an untenable position where they will be unable to carry out their responsibilities and keep communities healthy and safe.”

Earlier this month, McClellan introduced a bill to prevent the Department of Health and Human Services (HHS) from implementing additional mass workforce cuts, following reports that the Virginia Department of Health had billions of dollars in federal funding cut by the Trump Administration that resulted in layoffs statewide for community health workers, nurses and epidemiologists.

###

MIL OSI USA News –

April 30, 2025

Actual CAPEX in 2021-22	Actual CAPEX 2022-23	Actual CAPEX 2023-24	Intended CAPEX in 2024-25	Intended CAPEX in 2025-26
394,681.5	572,199.7	422,183.3	656,492.7	488,865.5

Category: Business

A necessary medicine

Productivity is the key

All-of-government focus

MNRE Minister Pralhad Joshi launches Green Hydrogen Certification schemeMNRE organizes Workshop on opportunities for MSMEs in Green Hydrogen Supply Chain

Findings of the Forward-Looking Survey on Private Sector CAPEX Investment Intentions(Survey period: November 2024 to January 2025)

Cutting Waste and Enhancing Efficiency

Advancing President Trump’s Agenda

Restoring Fiscal Responsibility

Delivering Disaster Relief

The UK is committed to doing all we can to protect information integrity with a human rights-based approach: UK statement at the UN

Updates to this page

The Trump factor

Divided electorate

Poilievre’s future

First-Time Attending Startup Seeks Connections

Long-Time Investor Advises Multiple Entrepreneurs

Accelerator Looks for Technologies To Take Home

Startup Service Provider Keeps Coming Back Each Year

New Programs Offer New Opportunities

Face-to-Face Meetings Encourage Innovation

Award Winners and Beyond

MNRE Minister Pralhad Joshi launches Green Hydrogen Certification scheme

MNRE organizes Workshop on opportunities for MSMEs in Green Hydrogen Supply Chain

Findings of the Forward-Looking Survey on Private Sector CAPEX Investment Intentions
(Survey period: November 2024 to January 2025)