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  • MIL-OSI Asia-Pac: Text of Vice-President’s address at the Fourth P. Parameswaran Memorial Lecture in Thiruvananthapuram (Excerpts)

    Source: Government of India

    Posted On: 02 MAR 2025 5:34PM by PIB Delhi

    It is an absolute privilege and an honour to deliver the 4th P. Parameswaran lecture organised by Bharatheeya Vicharakendram in Thiruvananthapuram.The memorial lecture in the honour, in the memory of one of the greatest sons of Bharat. He happens to be in the front league of idealogues and thinkers of Hindu thought process in this century. We are celebrating by way of this lecture one of the finest intellectuals committed to social work and such a son of the soil being honoured in the land of Kerala, North zone territory.

    It is a testament that our civilisational values thrive, A civilisation is known only by one fundamental consideration, does it really honour its great sons and that has been the theme in last few years. Our forgotten heroes, unsung heroes, we have remembered them.

     Kerala has been the cradle of intellectual discourse, cultural enlightenment, and spiritual pursuits. This is a land that birth legends for Adi Shankharacharya who expounded the philosophy of Advaita Vedanta to Narayana Guru who led the modern message by his social reform and by his team of social reformers. We are celebrating the memory of one of them.

     This land is also home to some of the most revered temples, including Sabrimala, Padmanabhaswamy temple, and Guruvayur drawing millions of devotees, they get inspired and motivated. The faith and devotion that permeates these sacred spaces reminds us of the eternal values that hold our nation together.

     Our values are sublime, full of religiosity and spirituality, righteousness and self service. This fertile sacred geography also birthed Shri P. Parameswaran ji who received his values with birth. His unwavering commitment to Bharatiya values, his deep understanding of Indian ethos and his relentless pursuit of national unity continues to inspire generations.

     His vision for a self-reliant Bharat, culturally rooted and spiritually awakened, resonates profoundly across the nation. When we talk about the confluence of East and West, we remember Shri Vivekananda, Swami Vivekananda and his historic address at Chicago that was rendered at the World Council of Religions in 1893. But who rekindled it? Who ignited the flame in us? Who inspired us in modern times? By the essence of that address that stirred global minds, it was none other than Shri P. Parameswaran.

     In 1993, hundred years after that event, it was Parameswaran ji who invited the world to reflect on Swamiji. His life, his legacy and his message. The Government of India has rightly recognised this great son of the soil, a great ideologue of Hindu thought process.

     A messenger of Bharatiya Sanskriti, an epicentre in a sense who disseminated sublimity of our values with Padma Shri in early 2000 and in 2018 with the second highest civilian award of Padma Vibhushan, but these decorations do not completely define the man in whose memory we are having this lecture.

     The tribute which we can pay to such towering figures who amplify our values, epitomise our cultural essence, the best of human values, is to follow what he exemplified. We must emulate the value system that he professed.

     Ladies and gentlemen, I greatly commend the subject or theme of this lecture, “Demography, Development and Democracy, Shaping the Future of Bharat”– Nothing could be more contemporaneously relevant than this theme, and this theme, when the theme is a tribute to Rashtriya Rishi who dedicated his journey to welfare of humanity through Rashtriya Swayam Sevak Sangh, an organisation spinally rooted in our cultural ethos and now in the centennial year, I appeal to everyone in two years we will be celebrating the birth centenary of this great son of the soil.

     I am sure steps will be taken by the organisers in concert with similar outfits so that his message goes around to the entire country and the world. If I have to put in summation the thought process of P. Parameswaran ji, we all are Bharatiya. भारतीयता हमारी पहचान है। राष्ट्रहित हमारा धर्म है, राष्ट्र कल्याण सर्वोपरि है। कोई भी हित व्यक्तिगत हो या राजनीतिक या सामाजिक, राष्ट्रहित से ऊपर नहीं है।

     And therefore, I commend the organisers for having so thought about it. The theme calls upon me to first reflect on the state of the nation. There was a time, and I had the occasion to see it, as a member of parliament in 1989, as a union minister in 1990-91, an atmosphere that did not

    inspire us. That was alarmingly worrisome, full of concern, and now our Bharat is brimming with positivity and possibility.

     It is full of hope and aspirations. All around, all pervasive, an ecosystem of hope and possibility we can see, and in global firmament, it is the brightest spot of investment and opportunity. The country has seen in the last decade exponential economic upsurge. Our rise from 11th position a decade ago, on the scale of economic size, we have traversed a long distance, facing headwinds, difficult terrain, overcoming hurdles created earlier, cleansing the system, making it transparent and accountable.

     We are the 5th largest global economy at the moment, on way to becoming 4 trillion economy in US dollars very shortly, and with average growth over this period of about 8%. Bharat happens to be the fastest growing global economy in last decade, acclaimed, accoladed and applauded by global institutions, the IMF and the World Bank.

     World Bank has appreciated our deep digitisation, technological penetration, and everyone sees it now as a ground reality. Next comes infrastructure. Phenomenal infrastructure growth has dotted our landscape. Be it on sea, deep sea, ground, sky or in space, all our accomplishments make us greatly proud, and I am happy to share with you, every year the country has added four new airports and one metro system, and on a daily basis, 14 kilometres of highways and 6 kilometres of railways are

    being added.

     If I reflect on scale of deep technological penetration, 85 million are benefiting with houses, 330 million with health coverage, and 29 million small businesses with loans annually. The government is hand-holding them by affirmative policies and innovative schemes. We now boast of beyond what we achieved in space. Lunar and Mars missions in medical science, vaccine production, and the nation is bound to be hub of semiconductors, engineering and manufacturing.

     India’s engagement with world in green energy, urbanisation, emerging disruptive technologies, we are in the front rank. It is for the first time that the country is in big league of nations on Artificial Intelligence, on Quantum computing, on Green Hydrogen mission, and all pervasive digitisation has generated transparency, Accountability, easy service affordability.

     Corruption has been neutralised from power corridors on account of technological inroads. Technological inroads have been no less than invasion on corruption and malpractices, and that is reflected in the scenario that almost half of digital transactions in the world are

    emanating from this country, 6.5 billion monthly.

     Let me recall what P. Parameswaran ji said on this occasion, on such an occasion, we need to reflect, remember, I quote, “The youth of Bharat are not merely inheritors of our civilisation, but the architects who will shape our nation’s future glory through their aspirations, innovations, and resilience.”

     Our demographic dividend, the youth component of it, is envy of the world. India’s greatest strength is its population. We are home to one-sixth of humanity, but look at our qualitative cutting edge demographic dividend.

    Sixty-five percent of the population is in working age. Our nation is an average age of 28.4 years. We are uniquely positioned as the world’s youngest major economy.

    Compare this to Japan, 48.7 years. Compare it to Germany, 44.3 years, and China, 38.4 years. People-centric policies and transparent accountable governance has given buoyancy to ecosystem. Imagine the scale of it, a nation of 1.4 billion. Look at the transformative change that has impacted the rural environment.

     Every house has a toilet, electric connection, water connection is on way, a gas connection.And look at the connectivity, internet, and road, rail, and handholding policies in health and education centre. These define our growth trajectory. India is no longer a nation with a promise. India is no longer labelled as a nation of snake charmers. India is charming the entire world with the potential it has for everyone on the globe.

     This economic renaissance, which was beyond imagination, beyond contemplation, beyond dreams, a few years ago, has generated

    what is essence of our Sanatana inclusivity. Non-discriminatory, uniform, even-handed, equitable development, results, and fruits for one

    and all. Effort has been made, irrespective of any qualification, race, religion, caste, colour, that the benefit must reach those who are in the last line, and this is being done with great success.

    Bharat is the only democracy in the world that has structured democracy at the village level. Constitutionally sanctified democracy at the Village level, Municipal level, State level, and the Central level. I want, on this great occasion, to everyone reflect on what is democracy.

     Democracy is defined by freedom of expression and dialogue. If we enjoy freedom of expression and do not lend our ears to the other point of view, do not enter into dialogue, do not appreciate the other point of view, expression becomes authoritarianism.

     प्रजातन्त्र में किसी भी व्यक्ति या संस्था के लिए अहं और अहंकार का कोई स्थान नहीं है। प्रजातन्त्र का मूल तत्व है समानता, समान अधिकार, समान अवसर।

     And I therefore appeal that those who do not believe in harmony, social harmony, national harmony, must get into the thought process of Shri P. Parameswaran ji.

    How can we countenance in this land that has 5,000 years of civilisational ethos? Someone says, मैं अकेला सही हूँ, मेरी बात का कोई विकल्प नहीं है, ऐसा नहीं है। These thoughts are antithetical to our civilisational ethos. They militate against the very concept of democracy, and therefore, we must focus, alongside expression, on dialogue, dialogue enables everyone to self-assess oneself, to self-audit oneself, to be open to the other idea.

     And that was what P. Parameswaranji was doing all throughout. Ideologic discourse, ideologic debate, ideologic brainstorming should be dominating our discourse, not violence. What does our culture say, हमारी संस्कृति क्या कहती है? अभिव्यक्ति, वाद-विवाद और अनंतवाद, अनंतवाद का स्रोत हमारी सांस्कृतिक विरासत में है। अनंतवाद का ही नतीजा है कि भारत ज्ञान का भंडार था, जानकारी का भंडार था।

     If India is today a cultural centre of the world, we owe to people like P. Parameswaranji for coming to this level. If in the past, about 1200 years ago, India was the world’s repository of knowledge and wisdom, it was on account of our institutions.

     आज के दिन, कुछ हालात भयावह हैं, चिंतन और मंथन के लिए विवश करते हैं।

    We are faced with an alarmingly worrisome scenario on certain aspects. Politics has become polarised. We are faced with an alarmingly worrisome scenario on certain aspects. Vertically divisive, temperatures are ever high. The core national values and civilisational values are not the central theme. In this country where diversity is reflected in unity, this country that prides in Sanatana values of inclusivity, we cannot afford ourselves to be distanced from these core values and engage in polarised, divisive activities.

    Time for us to fall in the groove of Sanatana Dharma as enlightened by Shri P. Parameswaranji, and let me reflect on that concern. As meaningful dialogue fades, so do the pillars of cooperation, collaboration and consensus.

     I must share with you my anguish, my pain. The largest democracy’s parliament must be role model for people. It is a platform to transform aspirations of the people into reality. It has to be impregnable citadel of dialogue, debate, discussion and deliberation. And these facets were exemplified by the Constituent Assembly that worked for about three years in eighteen sessions. And what we see today? Dialogue, deliberation and others have yielded to disturbance and disruption.

     Can there be sacrilege of more intense enormity when temples of democracy are ravaged by disruption and disturbance? Our democracy has to survive. And the first test is parliamentary functioning. We face situations where national interest is relegated. Anti-national narratives take wings.

     We are living in very dangerous times. Political intolerance and reckless stance promoting partisan and personal interests at the cost of nationalism needs to be moderated. There is need for social counselling. Young minds and senior citizens must converge to generate an ecosystem. By becoming influencers of our mindset, we have a Constitution that remarkably depicts Gurukul.

     That makes reference to Ramayana. What is the message? अधर्म पर धर्म की विजय, when in fundamental rights, Part- III of the Constitution, you have a picture of Ram, Sita and Lakshman coming to Ayodhya. अंधकार से प्रकाश, धर्म की जीत अधर्म की हार। मर्यादित आचरण का संदेश और यदि अगर कहें सबका साथ सबका विश्वास इसका अंश आपको रामायण में मिलेगा ।

     भारत के संविधान में, if we go to the next part, Directive Principles of State Policy. महाभारत का वह scene है, कुरुक्षेत्र का वह दृश्य है। श्रीकृष्ण अर्जुन को उपदेश दे रहे हैं। What does it teach us? It says, लक्ष्य को ध्यान में रखो, छत को मत देखो, मछली को मत देखो, मछली की आँख को मत देखो क्योंकि आपका लक्ष्य नहीं है। आपको भेदन है। इसी तरीके से शासन का काम करते हुए, कर्तव्य निर्वहन करते हुए हमारी दृष्टि भाई-भतीजेवाद पर नहीं होनी चाहिए। The message is loud and clear. Patronism, nepotism, favouritism, are evils that cut into merit of the society. Fortunately, power corridors have been sanitised. It is obligation of every person, every Bharatiya, not only to believe in these values, but to disseminate them.

     Let me now come to demography. Demography does matter. Demography should not be confused with majoritarianism. We cannot have a society divided in these two camps. But ladies and gentlemen, the nation is faced with grim challenges when it comes to demography.

     The demography evolution must be organic. It must be natural. It must be soothing only then it reflects unity and diversity, but if demographic variations are brought about in the nature of virtual and earthquake, there is cause for concern.

     If inorganic demographic variations take place with intent to increase demographic component with the objective to secure progress, then we have to be alarmed. This is being done. This is noticeably being done. We are at a stage crossroads, where we can neither overlook nor countenance this highly destabilising development.

     We have to be extremely alert. All of you converge to preserve the pristine demographic sanctity of Bharat. The challenge is coming in varied ways. One is through allurements, temptations. Reaching out to the needy and vulnerable. Providing succour. And then, in a subtle way, suggesting change of religion which is labelled as conversions. The country allows everyone to have a religion of his or her choice. This is our fundamental right.

    This is handed to us from our civilisational wealth, but if this is tampered with, it is tweaked. ऐसा बर्दाश्त नहीं हो सकता. लालच, लोभ आधार नहीं हो सकता। कोई पीड़ा में है, दिक्कत में है,  जरूरतमंद है उसको hand-holding करते समय, धर्म परिवर्तन की तरफ मत खींचो. यह बर्दाश्त के लायक नहीं है, मैं कितनी ही कोशिश करूँ, I will not be able to express the gravity of the concern, enormity of the challenge that we are faced on account of these statized, orchestrated, financially fuelled misadventures to effect conversions.

     The third motive, which is ill-motivation towards our nation. How can a nation suffer millions of illegal migrants? Look at the number. Look at the danger they bring to this country. Everyone in this country is fired with the dream of nationalism. These people come, they demand on our employment, on our health, on our education sectors, and then become a factor in electoral politics. It is very urgent. This has to be addressed. We are cliffhanging. We must generate awareness. The mindset of the people must be activated.

     Every Bharatiya must be steered to face this challenge. And that flow is threatening our culture also. I would urge we must courageously thwart these demographic dislocations. I have indicated three. As of now in the country we have from electoral point of view areas where elections do not make much sense. We have fortresses in the country that have emerged in the last few years where the outcome of the election is always foreclosed by democratic demographic dislocations.

     Addressing these challenges which are very daunting, policy interventions alone are not sufficient. We have to appreciate and recognise these challenges as existential to our nationalism and also to our democracy. True devotion to Bharat Mata means not merely celebrating its spiritual heritage but actively protecting its erosion caused by demographic transformation. I am happy to share with you that Viksit Bharat is not a dream now. It is our object. The nation is regaining past glory. We are on way to it. Our youth will play a critical role. We must gear up to do that. Everything that is happening in the country is making us proud globally.

     I reflected on global institutions. Now look at what happened only a few days ago. More than twice the population of the US had footprint at Mahakumbh. The holy Mahakumbh. More than twice the population of the US. Imagine the size and scale of it. And look at the exemplary management, quick response, facilities everything for us to take pride. The world has not seen such organised handling of a situation at this mega scale. Nowhere on the planet this has been seen. Nowhere there has been congregation of humanity in that number on a daily basis. That defines Bharat. That surprises the world. Look at how the mobility was there.

     How health was taken care of. How public order was maintained. How hygiene was controlled. I was there. My entire family was there. That should make us proud. This is a glorifying facet of Indian civilisation. We must ever remember. From all considerations all I can say is भारत जैसा कोई दूसरा देश नहीं है। हम अत्यंत भाग्यशाली हैं परमपिता परमेश्वर के कि हमारा जन्म यहाँ हुआ। अब हमें कर्तव्य निर्वहन करना चाहिए और कर्तव्य निर्वहन का मार्ग परमेश्वरन जी ने जीवन पर्यंत सिखाया है। आदर्श प्रचारक के रूप में, देश और दुनिया की सबसे बड़ी ideological संस्था से जुड़कर– राष्ट्रीय स्वयंसेवक संघ और एक रास्ता दिखाकर अहिंसा विकल्प नहीं है।

     I am extremely grateful to the organisers for having made this great opportunity to me available. I feel blessed, I feel honoured, and I look forward to the centennial celebrations of his birthday be organised at the national level. I must recognise in the audience’s presence of another great son of Bharat, Padma Bhushan Dr. O. Rajagopal.

     My greetings to all of you. I am grateful for your patience.

     Jai Hind.

    ***

    JK/RC/SM

    (Release ID: 2107567) Visitor Counter : 82

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Post Budget Webinar on “Agriculture and Rural Prosperity” focused on the Framework for Harnessing Fisheries Resources in Exclusive Economic Zone & High Seas

    Source: Government of India (2)

    Post Budget Webinar on “Agriculture and Rural Prosperity”  focused on the Framework for Harnessing Fisheries Resources in Exclusive Economic Zone  & High Seas

    Deliberations on Market Linkages, Ease of Doing Business, Sustainability Aim to Boost Farmers Income

    Posted On: 02 MAR 2025 3:18PM by PIB Delhi

    Union Minister, Ministry of Fisheries, Animal Husbandry & Dairying (MoFAH&D) and Ministry of Panchayati Raj, Shri Rajeev Ranjan Singh alias Lalan Singh, participated virtually in a  daylong Post-Budget Webinar on “Agriculture and Rural Prosperity” on 1st March 2025. The webinar was organised  by the Ministry of Agriculture & Farmers’ Welfare and also saw participation  of Prof. S.P. Singh Baghel, Union Minister of State, MoFAH&D and Ministry of Panchayati Raj, and Shri George Kurian, Union Minister of State, MoFAH&D and Ministry of Minority Affairs.

      

    Prime Minister Shri Narendra Modi in the webinar, delivered the keynote address in the event. The webinar engaged stakeholders in focused discussions, strategizing the effective implementation of 2025 Budget announcements. The webinar addressed key areas of agricultural growth and rural prosperity, ensuring a collaborative approach towards realizing the budget’s vision. Furthermore, the event aligned key stakeholders, including private sector experts, industry representatives, and subject matter specialists and key stakeholders, including representatives from fishermen associations, fisheries cooperatives, industry & private sector experts from mainland, Andaman Nicobar and Lakshadweep islands through structured, sub-theme-focused discussions. The webinar also aimed at facilitating dialogue, gathering insights, and ensuring timely and coordinated actions towards achieving the set goals.

    The post budget webinar on “Agriculture  and Rural Prosperity” featured parallel discussions on various sub-themes, each anchored by designated Secretaries. Key topics included Prime Minister Dhan-Dhaanya Krishi Yojana, Enhancing Credit through KCC, Building Rural Prosperity and Resilience, Atmanirbharata in Pulses, Comprehensive Programme for Vegetables & Fruits, National Mission on High Yielding Seeds, Mission for Cotton Productivity, India Post as a Catalyst for the Rural Economy, Framework for Harnessing Fisheries Resources in the Exclusive Economic Zone (EEZ) & High Seas, and Support to National Cooperative Development Corporation.

    Prime Minister Shri Narendra Modi, in his address at the post-budget webinar on agriculture and rural prosperity, highlighted the transformative impact of the Pradhan Mantri Matsya Sampada Yojana (PMMSY) since 2019, which has strengthened fisheries infrastructure, doubled production, and boosted exports in the sector. He emphasized the government’s commitment to sustainable fisheries in the Exclusive Economic Zone (EEZ) and the High Seas through a strategic action plan. Urging swift implementation, he called on stakeholders to explore new ideas for Ease of Doing Business and enhance sectoral growth.

    Prof. S.P. Singh Baghel, highlighted India’s vast marine resources within its 2.2 million sq. km Exclusive Economic Zone (EEZ). The initiatives undertaken by ICAR in fisheries research were also briefly highlighted, emphasizing their role in advancing sustainable development and strengthening the sector. Emphasizing the need for regional development, the significance of promoting fisheries clusters as a key strategy for boosting the sector was underscored. He affirmed the government’s commitment to transforming Lakshadweep and the Andaman & Nicobar Islands into major fisheries hubs by leveraging their untapped marine potential. He stated that initiatives undertaken by the government aims to enhance local value chains, improve infrastructure, and create sustainable economic opportunities for coastal communities while ensuring environmental conservation and long-term growth in the fisheries sector.

    Shri George Kurian, in his address, thanked Prime Minister Narendra Modi for establishing the Fisheries Department in 2019. He said that fisheries sector aims to double the income of fish farmers for which the government has provided additional financial support in the budget to boost exports. He said that the government is also promoting cluster zones for fisheries development in Andaman & Nicobar and Lakshadweep. To develop these regions, it will be necessary to provide training to the local people and seek assistance from the governments of these island groups.

    Breakout Session on “Framework for Sustainable Harnessing of Fisheries Resources in the Exclusive Economic Zone (EEZ) of India and the High Seas with a special focus on Andaman & Nicobar Islands and Lakshadweep”, was chaired by Dr. Abhilaksh Likhi, Secretary, Department of Fisheries.  The session discussed policy interventions, international commitments, and strategies for responsible fisheries management to drive seafood exports, enhance food security, and create employment opportunities while ensuring long-term sustainability. It also deliberated upon the implementation of the Budget Announcement, focusing on  sustainable harnessing of fisheries from India’s Exclusive Economic Zone (EEZ) and the High Seas, along with the development of deep-sea fisheries in the Andaman & Nicobar Islands and Lakshadweep to unlock their vast marine potential.

    This session witnessed participation of key industry experts, policymakers, and stakeholders who deliberated on crucial aspects of deep-sea fishing, market linkages, value addition, and sustainability. Various topics like Deep Sea Fishing: Vessel Designing, Procurement & Smart Harbor Development, Credit Facility for Fisheries Cooperatives to Procure and Operate Deep Sea Fishing Vessels, Concept of Mother and Child Vessels Strategy for Deep Sea Fishing, Sustainable Offshore Technologies for Harnessing of Marine Resources, Value Chain Enhancement: Processing, Packaging & Export etc. were deliberated upon during the session.

    The discussions  during the webinar have laid a strong foundation for the structured and sustainable harnessing of India’s marine fisheries resources with a clear focus on balancing economic growth with environmental responsibility. The proposed framework will enable deep-sea fisheries development, strengthen regulatory mechanisms, and enhance infrastructure and market access. Also the strategic emphasis on Andaman & Nicobar and Lakshadweep will unlock their vast marine potential while ensuring long-term sustainability. The discussions also focused on seamless collaboration among stakeholders, adherence to international commitments, and effective policy implementation to help transform  India’s marine fisheries sector into a global leader in sustainable and responsible fishing.

    ****

    Aditi Agrawal

    (Release ID: 2107533) Visitor Counter : 16

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: India is no longer labelled as a nation of snake charmers but charming the entire world with the potential it has for everyone on the globe-VP

    Source: Government of India (2)

    India is no longer labelled as a nation of snake charmers but charming the entire world with the potential it has for everyone on the globe-VP

    VP raises concern over orchestrated, financially backed misadventures aimed at affecting conversions

    We have fortresses in the country where outcome of the election is always foreclosed by demographic dislocations-VP

    Parliament has to be impregnable citadel of dialogue, debate, discussion and deliberation-VP

    VP delivers Fourth P. Parameswaran Memorial Lecture at Thiruvananthapuram

    Posted On: 02 MAR 2025 2:56PM by PIB Delhi

    The Vice-President, Shri Jagdeep Dhankhar today said that, “ India is no longer a nation with a promise. India is no longer labelled as a nation of snake charmers. India is charming the entire world with the potential it has for everyone on the globe”.

    Reflecting on the growth trajectory of Bharat in the recent decade, Shri Dhankhar underlined, “People-centric policies and transparent accountable governance has given buoyancy to ecosystem…..A nation of one 1.4 billion, look at the transformative change that has impacted the rural firmament. Every house has a toilet, electric connection, water connection is on the way, a gas connection….connectivity, internet and road, rail and handholding policies in health and education sector. These define our growth trajectory”.

     “This economic renaissance, which was beyond imagination, beyond contemplation, beyond dreams few years ago has generated what is the essence of our Sanatana, inclusivity, non-discriminatory, uniform, even-handed equitable development results and fruits for one and all. Effort has been made irrespective of any qualification, race, religion, caste, colour, that the benefit must reach those who are in the last line and this is being done with great success”, he emphasised.

     Delivering Fourth P. Parameswaran Memorial Lecture on the theme ‘Democracy, Demography, Development and the future of Bharat’ at Thiruvananthapuram today, Shri Dhankhar said, “ [Shri P. Parameswaran] his unwavering commitment to Bharatiya values, his deep understanding of Indian ethos and his relentless pursuit of national unity continues to inspire generations. His vision for a self-reliant Bharat, culturally rooted and spiritually awakened resonates profoundly across the nation”.

    “The memorial lecture in the honour, in the memory of one of the greatest sons of Bharat. He happens to be in the front league of idealogues and thinkers of Hindu thought process in this century. We are celebrating by way of this lecture one of the finest intellectuals committed to social work….A civilization is known only by one fundamental consideration. Does it really honor its great sons? And that has been the theme in last few years. Our forgotten heroes, unsung heroes, not well so unseen heroes, we have remembered them”, he added.

     Expressing his concern over inorganic demographic transitions, Shri Dhankhar stated, “ Demography does matter. Demography should not be confused with majoritarianism. We cannot have a society divided in these two camps. But ladies and gentlemen, the nation is faced with grim challenges when it comes to demography. The demographic evolution must be organic. It must be natural. It must be soothing. Only then it reflects unity in diversity. But if demographic variations are brought about in the nature of virtual earthquake, there is cause for concern. If inorganic demographic variations take place with intent to increase demographic component with the object to secure prowess then we have to be alarmed. This is being done. This is noticeably being done. We are at a stage, crossroads where we can neither overlook nor countenance this highly destabilising development. We have to be extremely alert. All have to converge to preserve the pristine demographic sanctity of Bharat”.

     “As of now in the country we have, from electoral point of view areas where elections do not make much sense. We have fortresses in the country that have emerged in the last few years, where outcome of the election is always foreclosed by demographic dislocations. Addressing these challenges, which are very daunting, policy interventions alone are not sufficient. We have to appreciate and recognize these challenges as existential to our Nationalism and also to our Democracy……..How can a nation suffer millions of illegal migrants? Look at their number. Look at the danger they bring to this country. Everyone in this country is fired with a zeal of nationalism. These people come, make demand on our employment, on our health, on our education sectors and then become a factor in electoral politics. It is very urgent. This has to be addressed. We are Cliff hanging. We must generate awareness. Mindset of the people must be activated. Every Bharatiya must be skilled to face this challenge. Unchecked flow is threatening our culture also. I would urge we must courageously thwart these demographic dislocations”, he added.

    Drawing attention towards religious conversions he said, “ The challenge is coming in various forms: one is through allurements, temptations, reaching out to the needy and vulnerable, providing support, and then in a subtle way suggesting a change of religion, which is labeled as conversions. The country allows everyone to have a religion of his or her choice, this is our fundamental right, this is handed to us from our civilizational wealth but if this is tampered with, it is tweaked, it cannot be tolerated….Greed and temptation cannot be the basis for this. When someone is in pain, in difficulty, in need, while helping them, do not pull them towards conversion, this is intolerable. No matter how much I try, I will not be able to express the gravity of the concern, the enormity of the challenge we are facing due to these strategised, orchestrated, financially backed misadventures aimed at affecting conversions”.

     Reflecting on the politically divisive environment in the nation, VP said, “ We are fetched with alarmingly worrisome scenarios on certain aspects. Politics has become polarised, vertically divisive, temperatures are ever high. The core national values and civilisational values are not the central theme. In this country where diversity is reflected in unity, this country that prides its Sanatan values of inclusivity, we cannot afford ourselves to be distanced from these core values and engage in polarised, divisive activities…..As meaningful dialogue fades, so do the pillars of cooperation, collaboration and consensus”.

    Underscoring the significance of dialogue and deliberation, he said, “ I must share with you my anguish, my pain. Parliament must be role model for people. It is a platform to transform aspirations of the people into reality. It has to be impregnable citadel of dialogue, debate, discussion and deliberation and these facets were exemplified by the Constituent Assembly that worked for about three years in 18 sessions. And what we see today? Dialogue, deliberation, and others have yielded to disturbance and disruption.

    “Can there be sacrilege of more intense enormity when temples of democracy are ravaged by disruption and disturbance? Our democracy has to survive and the first test is parliamentary functioning.

     “We face situations where National interest is relegated. Anti-national narratives take wings. We are living in very dangerous times. Political intolerance and reckless stance promoting partisan and personal interest at the cost of Nationalism need to be moderated. There is need for social counseling. Young minds and senior citizens must converge to generate an ecosystem by becoming influencers of our mindset”.

    Dr. (Smt.) Sudesh Dhankhar, Spouse of the Hon’ble Vice-President of India,  Shri R.V. Arlekar, Hon’ble Governor of Kerala, Shri V Muraleedharan, former Union Minister and other dignitaries were also present on the occasion. 

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    JK/RC/SM

    (Release ID: 2107522) Visitor Counter : 57

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Fostering Growth and Inclusivity

    Source: Government of India (2)

    Fostering Growth and Inclusivity

    The Strategic Impact of GeM on India’s Economy

    Posted On: 02 MAR 2025 1:53PM by PIB Delhi

    Introduction

    Public procurement plays a crucial role in a nation’s economic growth, directly impacting the lives of its citizens. When governments purchase goods and services efficiently and transparently, it not only ensures the effective use of public funds but also stimulates economic opportunities for businesses of all sizes. This, in turn, drives employment, promotes innovation, and contributes to overall societal development. In India, the Government e-Marketplace (GeM) has emerged as a game-changer in public procurement, creating an open and inclusive platform that benefits not just government buyers but also local entrepreneurs, startups, and small businesses.

     

    In alignment with the societal development of the nation, GeM has enabled startups to fulfil orders worth ₹ 35,950 Crore. Women entrepreneurs comprise 8% of the total seller base on GeM, with cumulative 1,77,786 Udyam-verified women micro, and small enterprises (MSE) registered on the GeM portal, having fulfilled a cumulative order value of ₹46,615 Crore.

    What is GeM?

    Government e-Marketplace (GeM) is an online platform for public procurement in India which was envisaged by Prime Minister Narendra Modi. The initiative was launched on August 09, 2016 by the Ministry of Commerce and Industry with the objective to create an open and transparent procurement platform for government buyers.

     

    Core Principles of GeM

     

    GeM is characterized by three core elements:

    Openness: GeM shall be an open marketplace wherein it promotes access to information and transparency. Relevant information on sellers, goods, and services shall be easy to find and readily available for users. GeM shall provide databased insights to help users in decision-making and ascertaining price reasonability.

    Fairness: One of the platform’s key objectives is to allow sellers, big and small, to gain direct access to Government buyers. In doing so, all sellers shall be treated fairly and GeM shall not offer promotional treatment to one seller over the other. GeM shall support the intentions behind the preferential market access policies and ensure that all sellers are provided with a level playing field. This will ensure the health and competitiveness of the marketplace.

     

     

    Inclusiveness: GeM shall promote inclusiveness, which means that all Government buyers and sellers shall be accepted on the platform. GeM shall aspire to create a robust seller base and all sellers interested in conducting business with the Government shall be welcomed on the platform. For buyers and sellers that do not have the know-how of using GeM, additional assistance in the form of focused training, onboarding sessions and continued feedback and support shall be provided.

     

    Key Features of GeM

     

    SWAYATT: Promoting Ease of Doing Business

     

    SWAYATT is portal’s commitment to enhance ease of doing business and establish direct market linkages to annual public procurement for startups, women entrepreneurs, Micro & Small Enterprises (MSEs), Self Help Groups (SHGs) and youth, especially those from backward sections of the society. Since inception, the initiative is focused at facilitating the training and onboarding of last-mile sellers, developing women entrepreneurship and encouraging participation and small-scale businesses in government procurement.

     

     

    Startup Runway 2.0 is an opportunity for Startups to showcase their innovative products and services to Government buyers and engage in public procurement. GeM has created a dedicated marketplace category for all Startups to list their products and services, irrespective of their DPIIT-certification. The platform offers Startups all the marketplace functionalities that are available to regular sellers and the objective is to spur “Make In India” procurement from India Startups.

     

     

    “Womaniya” initiative seeks to showcase products made by women entrepreneurs and women self-help groups [WSHGs], and spur Women entrepreneurship by aligning them with opportunities to sell their products to various Government ministries, departments and institutions. GeM has specially categorized products such as handicrafts and handloom, accessories, jute and coir products, bamboo products, organic foods, spices, home décor and office furnishings for ease-in-procurement. Womaniya aligns with Government’s initiative of reserving 3 percent in public procurement from women MSME entrepreneurs and this offers immense potential for procurement.

     

     

    GeM is collaborating with various stakeholders from the Micro, Small and Medium Enterprises [MSME] ecosystem with special focus on entrepreneurs from the Scheduled Caste/ Schedule Tribes [SC/ ST]. The partnership is based on the objective of achieving the mandatory procurement goal of 25 percent from MSMEs and a sub target procurement of 4 percent goods and services from MSME entrepreneurs within SC/ ST communities, by all government departments and public sector enterprises [PSE]. This initiative seeks to encourage active participation of MSE sector in public procurement.

    The Saras Collection: Celebrating Handcrafted Excellence

    The SARAS Collection is a pristine handcrafted collection of handicrafts, handloom textiles, office décor, furnishings, accessories, event souvenirs, personal hygiene and care products from top of the line SHGs in India.

    GeM Statistics: A Snapshot of Growth and Impact

     

    The latest statistics reveal significant activity in the marketplace, showcasing a robust ecosystem with 162,985 primary buyers, 228,754 secondary buyers, and a diverse range of 11,006 product categories and 332 service categories. In the last financial year, the order volume reached 62,86,543, with an order value of ₹4,03,305 Crore. Continuing its momentum, the current financial year has already recorded 61,23,691 orders worth ₹4,52,594 Crore. Notably, 37.87% of the total order value is attributed to Micro and Small Enterprises (MSEs), underscoring GeM’s role in empowering local businesses and fostering inclusive economic growth.

    Data as on 28 February 2025

    Conclusion

    Government e-Marketplace (GeM) has transformed public procurement in India by promoting transparency, efficiency, and inclusiveness. By empowering startups, women entrepreneurs, and MSMEs, GeM fosters economic growth and social equity. The platform’s strategic initiatives, such as SWAYATT, Startup Runway 2.0, and Womaniya, have significantly contributed to the ease of doing business and enhanced participation in government procurement. As GeM continues to evolve, it remains committed to its vision of creating a sustainable, open, and competitive marketplace, driving India’s progress towards inclusive and transparent public procurement practices.

     

    References

    https://gem.gov.in/

    https://pib.gov.in/PressReleseDetailm.aspx?PRID=2106076&reg=3&lang=1

    https://assets-bg.gem.gov.in/resources/pdf/GeM_handbook.pdf

    Click here to download PDF

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    Santosh Kumar/Sarla Meena/ Madiha Iqbal

    (Release ID: 2107510) Visitor Counter : 66

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Indian Institute of Corporate Affairs (IICA) Hosts National Association of Impact Leaders (NAIL) Meet in Goa to Strengthen ESG Leadership in India

    Source: Government of India

    Indian Institute of Corporate Affairs (IICA) Hosts National Association of Impact Leaders (NAIL) Meet in Goa to Strengthen ESG Leadership in India

    Discussions underscored the need to align organizational strategies with evolving global frameworks, green technology adoption and the transformative power of technology

    IICA announces the 3rd edition of the flagship ESG annual conference of IICA, the National Conference on Responsible Business Conduct (NCRBC), scheduled to be held on the 2nd and 3rd of July 2025

    Posted On: 02 MAR 2025 12:38PM by PIB Delhi

    The Indian Institute of Corporate Affairs (IICA), under the aegis of the Ministry of Corporate Affairs, Government of India, proudly hosted the inaugural National Association of Impact Leaders (NAIL) Meet 2025 in the picturesque setting of Goa. This landmark event, attended by over 100 participants, served as a confluence of eminent ESG professionals, policymakers, and thought leaders, all brought together to exchange insights, deliberate on emerging sustainability trends, and chart the course for a resilient and responsible corporate future. The event was held under the esteemed guidance of Shri Ajay Bhushan Prasad Pandey, DG & CEO, IICA and Chairman, National Financial Reporting Authority (NFRA).

    Setting the stage for an intellectually stimulating discourse, the event commenced with a Welcome-and-Context-Setting session led by Prof. Garima Dadhich, Associate Professor and Head, School of Business Environment, IICA. She eloquently articulated the growing significance of ESG leadership in fostering corporate sustainability and underscored the need to align organizational strategies with evolving global frameworks.

    Further enriching the dialogue, Ms. Aruna C. Newton, Vice President, Infosys Limited, presented an illuminating perspective on how robust governance frameworks can accelerate green technology adoption, ultimately fostering a culture of corporate sustainability. Her insights paved the way for Public Relations Associate, Private Sector Engagement, UNICEF, who provided an in-depth analysis of the social dimensions of Business Responsibility and Sustainability Reporting (BRSR) Core, reinforcing the imperative of inclusive and ethical business conduct.

    Bringing a dynamic exchange of ideas to the fore, a panel discussion, expertly moderated by Prof. Garima Dadhich, engaged distinguished NAIL members, namely,  Mr. J P Dash from Batch I, Mr. Ashok Sethi and Mr. Sridhar L from Batch II, Ms. Shalini Verma and Mr. Paritosh Chauhan from Batch III, in an invigorating deliberation. This stimulating discourse delved into the far-reaching implications of regulatory transformations, including SEBI’s new norms, the Corporate Sustainability Reporting Directive (CSRD), and the dissolution of Sustainability Accounting Standards Board (SASB) and Task Force on Climate-related Financial Disclosures (TCFD), highlighting both challenges and opportunities for the corporate sector. Elevating this dialogue further, senior official from Department of Debt and Hybrid Securities (DDHS) – PoD, SEBI, offered a deep dive into the evolving ESG rating landscape, illuminating investor expectations and the strategic adjustments corporates must make to remain compliant and competitive. Complementing these insights, the official representative from the corporate finance department at SEBI, provided an authoritative overview of industrial benchmarks set for BRSR Core and their tangible impact on businesses striving to enhance ESG compliance.

    Highlighting the transformative power of technology, Senior Expert-ESG Practice from KPMG India, delivered a presentation on the role of artificial intelligence in revolutionizing ESG data analytics, reporting, and decision-making. This seamlessly transitioned into an engaging session led by Senior Expert WRI India, and Senior Expert CEEW-CEF, who provided a meticulous analysis of greenhouse gas accounting methodologies and underscored the critical role of carbon markets in facilitating a transition towards a net-zero future, respectively.

    The event culminated with a heartfelt vote of thanks by Prof. Garima Dadhich, expressing gratitude to all esteemed speakers, participants, and stakeholders for their invaluable contributions, which was followed by an enriching networking session, where attendees engaged in stimulating conversations on sustainable finance, ESG audits, decarbonization strategies, and business-biodiversity integration.

    During the event, IICA also announced the 3rd edition of the flagship ESG annual conference of IICA, organised with support from the Ministry of Corporate Affairs, the National Conference on Responsible Business Conduct (NCRBC), scheduled to be held on the 2nd and 3rd of July 2025. Registrations for the event will open in March 2025.

    National Association of Impact Leaders (NAIL) is poised to emerge as a premier platform for IICA Certified ESG Professionals and Impact Leaders, continuously driving knowledge-sharing, impactful leadership, and meaningful change in the realm of corporate sustainability. For more information on NAIL and the flagship programme for ESG in India, the IICA Certified ESG Professional Impact Leader Programme, please log in to https://iica.nic.in/esgcsr/.

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    NB/AD

    (Release ID: 2107494) Visitor Counter : 52

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: NITI AAYOG LAUNCHES REPORT ON “FROM BORROWERS TO BUILDERS: WOMEN’S ROLE IN INDIA’S FINANCIAL GROWTH STORY”

    Source: Government of India

    NITI AAYOG LAUNCHES REPORT ON “FROM BORROWERS TO BUILDERS: WOMEN’S ROLE IN INDIA’S FINANCIAL GROWTH STORY”

    Report published in collaboration with Ransunion Cibil and Microsave

    Shows 42% Year-Over-Year Growth in Women Borrowers

    Posted On: 03 MAR 2025 2:05PM by PIB Delhi

    NITI Aayog today launched the report titled “From Borrowers to Builders: Women’s Role in India’s Financial Growth Story”. The report launched by CEO NITI Aayog, Shri B.V.R. Subrahmanyam reveals that more women in India are seeking credit and actively monitoring their credit scores. As of December 2024, 27 million women were monitoring their credit, marking a 42% increase from the previous year, signaling growing financial awareness. The report has been published by TransUnion CIBIL, Women Entrepreneurship Platform’s (WEP) of NITI Aayog and MicroSave Consulting (MSC).

    During the launch, Shri B.V.R. Subrahmanyam, CEO of NITI Aayog, highlighted the critical role of access to finance in empowering women entrepreneurs. He stated, “the government recognizes that access to finance is a fundamental enabler for women’s entrepreneurship. The Women Entrepreneurship Platform (WEP) continues to work towards building an inclusive ecosystem that fosters financial literacy, access to credit, mentorship, and market linkages. However, ensuring equitable financial access requires a collective effort. The role of financial institutions in designing inclusive products tailored to women’s needs, along with policy initiatives that address structural barriers, will be instrumental in accelerating this momentum. To achieve this goal under the aegis of WEP, Financing Women Collaborative (FWC) has been constituted. We seek more financial sector stakeholders to join FWC and contribute to this mission.”

    Anna Roy, Principal Economic Advisor, NITI Aayog and Mission Director WEP, said: “Encouraging women entrepreneurship is one way of ensuring employment opportunities for women entering the workforce in India. It also serves as a viable strategy for accelerating equitable economic growth. Promoting women’s entrepreneurship could create employment opportunities for 150 to 170 million people while driving greater participation from women in the labour force.

    The report highlights that women’s share of the total self-monitoring base increased to 19.43% in December 2024, up from 17.89% in 2023. More women from non-metro regions are actively self-monitoring their credit compared to those in metro areas, with growth of 48% in non-metro regions and 30% in metro areas. In 2024, Maharashtra, Tamil Nadu, Karnataka, Uttar Pradesh and Telangana accounted for 49% of all self-monitoring women, with the southern region leading at 10.2 million. Northern and central states, including Rajasthan, Uttar Pradesh, and Madhya Pradesh, saw the highest compounded annual growth rates (CAGR) in active women borrowers over the past five years.

    Since 2019, women’s share in business loan origination has increased by 14% and their share in gold loans has grown by 6%, with women accounting for 35% of business borrowers by December 2024. However, challenges such as credit aversion, poor banking experiences, barriers to credit readiness and issues with collateral and guarantors persist. With rising credit awareness and improved scores, financial institutions have the opportunity to offer gender-smart financial products tailored to women’s unique needs.

     

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    MJPS/SR

    (Release ID: 2107708) Visitor Counter : 185

    MIL OSI Asia Pacific News –

  • MIL-OSI: 9/2025・Trifork Group AG – Share-based Incentive Program 2025

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 9 / 2025
    Schindellegi, Switzerland – 3 March 2025


    Share-based incentive program 2025

    Trifork Group AG (“Trifork”) has granted restricted share units (“RSUs”) under the existing employee long-term share-based incentive program (“ELTIP”) approved by the Board of Directors in 2021.

    The second ELTIP 2025 (“ELTIP 2025b”) is covering the grant in March 2025 to the Executive Managmeent of the Trifork Group.

    The ELTIP 2025b is based on RSUs and Executive Management variable remuneration for its performance in financial year 2024. RSUs granted will be subject to graded vesting over a three-year period.

    Further details about the ELTIP 2025b are stated below:

    Participants Executive Management of the Trifork Group eligible for variable remuneration for financial year 2024.
    Total 1 employee.
    Number of RSUs A total of 14,653 RSUs is allocated under the ELTIP 2025b.
    The number of RSUs is calculated by taking the respective variable remuneration amount and applying the weighted average share price for Trifork’s shares of the last three trading days of 2024.
    Granting RSUs comprised by the ELTIP 2025b are granted in March 2025.
    Vesting RSUs will vest over a three-year period with 1/3 of the RSUs vesting each year. Vesting is not conditional upon the achievement of any financial or non-financial targets but is conditional upon the participating employee remaining employed with the Trifork Group throughout the vesting period or becoming a good leaver during the vesting period as well as the participating employee having complied in all respects with the terms and conditions of the ELTIP 2025b.
    Objective Attraction and retention of employees in selected jurisdictions.
    Conversion Once vested and not lapsed in accordance with the terms and conditions of the ELTIP 2025b, each RSU will entitle the holder to receive one Trifork share.
    Conditions RSUs are granted based on the conversion of the respective variable remuneration for each participating employee. 
    The ELTIP 2025b is subject to customary conditions.
    Allocation & theoretical value The allocation is based on the weighted average share price of the last 3 trading days of 2024 (DKK 75.08). Dividing the converting salary by this amount results in the number of RSUs to be granted. The converting total amounts to DKK 1,100,154 (EUR 147,477) and 14,653 RSUs.
      The theoretical value for the RSUs is the market price of the Trifork share at grant date minus the expected dividends for the portions vesting after one, two and three years.


    Information and questions
    Frederik Svanholm, Group Investment Director, frsv@trifork.com, +41 79 357 73 17


    About Trifork
    Trifork is a pioneering global technology partner, empowering enterprise and public sector customers with innovative solutions. With 1,229 professionals across 73 business units in 16 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Labs, the Group’s R&D hub, drives innovation by investing in and developing synergistic and high-potential technology companies. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

    Attachment

    The MIL Network –

  • MIL-OSI: Valour Expands Digital Asset Offerings with the Launch of Valour Dogecoin, Valour Aptos, Valour Sui, and Valour Render ETPs on Börse Frankfurt in Germany

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 03, 2025 (GLOBE NEWSWIRE) — DeFi Technologies Inc. (the “Company” or “DeFi Technologies”) (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF), a financial technology company that pioneers the convergence of traditional capital markets with the world of decentralised finance (“DeFi”), is pleased to announce that its subsidiary Valour Inc. (“Valour“), a leading issuer of exchange traded products (“ETPs“) that provide simplified access to digital assets, has launched of four new digital asset ETPs on the Börse Frankfurt exchange: Valour Dogecoin (DOGE) EUR ETP, Valour Aptos (APT) EUR ETP, Valour Sui (SUI) EUR ETP, and Valour Render (RENDER) EUR ETP. These new products expand Valour’s commitment to offering investors seamless, secure, and cost-effective exposure to the most innovative digital assets in the market.

    Introducing New ETPs for Emerging Digital Assets

    Valour Dogecoin (DOGE) EUR ETP (ISIN: CH1108679791)

    Dogecoin (DOGE) is one of the most recognized and actively used cryptocurrencies, originally introduced in 2013 as a parody but now serving as a widely adopted digital currency. With a market capitalization of approximately $30.64 billion, DOGE ranks as the 8th largest digital asset globally. It is known for its strong community, fast transaction speeds, and usability for microtransactions, tipping, and merchant payments. The Valour Dogecoin ETP allows investors to gain exposure to DOGE’s performance without the complexities of direct cryptocurrency ownership, featuring a competitive management fee of 1.9%.

    Valour Aptos (APT) EUR ETP (ISIN: CH1108679783)

    Aptos (APT) is a next-generation Layer 1 blockchain designed for scalability, reliability, and security. Powered by its innovative Move programming language, Aptos enables fast transactions and a developer-friendly ecosystem. It is focused on advancing Web3 usability and adoption, providing infrastructure for NFTs, DeFi, and beyond. With a market capitalization of $6.19 billion, Aptos ranks 31st globally among digital assets. The Valour Aptos ETP grants investors seamless exposure to the Aptos blockchain ecosystem.

    Valour Sui (SUI) EUR ETP (ISIN: CH1108679080)

    Sui (SUI) is an innovative blockchain designed for high throughput and instant finality, making it ideal for applications such as gaming and finance. Sui utilizes an object-centric approach that allows for the independent validation of transactions, leveraging a Byzantine fault-tolerant proof-of-stake (PoS) consensus mechanism. With a market capitalization of $28.01 billion, Sui ranks 15th among digital assets worldwide. The Valour Sui ETP provides investors with access to this advanced blockchain, featuring a 1.9% management fee.

    Valour Render (RENDER) EUR ETP (ISIN: CH1108679783)

    Render (RENDER) is the native cryptocurrency of the Render Network, a decentralized GPU-based rendering platform that optimizes computational power for visual effects, gaming, and digital design. The Render Network enables cost-effective and scalable rendering solutions, fostering innovation across the creative industries. With a market capitalization of $2.26 billion, Render ranks 49th globally among digital assets. The Valour Render ETP offers investors exposure to the expanding world of decentralized computing and digital content creation.

    Bringing Innovation to European Investors

    With the introduction of these four new ETPs, Valour continues to expand its portfolio of digital asset investment products, offering European investors diversified and institutional-grade access to the cryptocurrency market. Valour’s ETPs provide a seamless entry point for investors looking to gain exposure to emerging blockchain technologies without the need for direct ownership or complex custody solutions.

    “We are excited to bring Valour Dogecoin, Valour Aptos, Valour Sui, and Valour Render ETPs to the Börse Frankfurt exchange,” said Olivier Roussy Newton, CEO of Valour. “These new listings underscore our commitment to delivering innovative and accessible digital asset investment solutions to the European market. By offering secure and transparent exposure to some of the most promising protocols, we continue to drive the adoption of digital assets among institutional and retail investors alike.”

    “After successfully launching 20 products in the Nordics in December, we are now enhancing our product range in Germany with the most sought-after underlying digital assets. Investor demand for diversified crypto exposure continues to rise, and Aptos, Sui, Render, and Dogecoin stand out as some of the most compelling assets in the market. This launch reinforces our commitment to providing institutional-grade access to the digital asset space, aligned with market trends and investor needs.” said Johanna Belitz, Head of Nordics

    About DeFi Technologies
    DeFi Technologies Inc. (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF) is a financial technology company that pioneers the convergence of traditional capital markets with the world of decentralized finance (DeFi). With a dedicated focus on industry-leading Web3 technologies, DeFi Technologies aims to provide widespread investor access to the future of finance. Backed by an esteemed team of experts with extensive experience in financial markets and digital assets, we are committed to revolutionising the way individuals and institutions interact with the evolving financial ecosystem. Follow DeFi Technologies on Linkedin and Twitter, and for more details, visit https://defi.tech/  

    About Valour
    Valour Inc. and Valour Digital Securities Limited (together, “Valour”) issues exchange traded products (“ETPs”) that enable retail and institutional investors to access digital assets in a simple and secure way via their traditional bank account. Valour is part of the asset management business line of DeFi Technologies Inc. (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF). For more information about Valour, to subscribe, or to receive updates, visit valour.com.

    Cautionary note regarding forward-looking information:
    This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the listing of ETPs; the development and prospects of the underlying digital assets; investor confidence in Valour’s ETPs; investor interest and confidence in digital assets; the regulatory environment with respect to the growth and adoption of decentralized finance and digital assets; the pursuit by the Company and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited the growth and development of decentralised finance and digital asset sector; rules and regulations with respect to decentralised finance and digital assets; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

    THE CBOE CANADA EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

    For further information, please contact:

    Olivier Roussy Newton
    Chief Executive Officer
    ir@defi.tech
    (323) 537-7681

    The MIL Network –

  • MIL-OSI: Magma Finance: The Next Generation DEX on Sui

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, March 03, 2025 (GLOBE NEWSWIRE) — The decentralized finance (DeFi) landscape is constantly evolving, with new innovations pushing the boundaries of what’s possible. At the heart of this evolution are decentralized exchanges (DEXs), which have become the backbone of DeFi by enabling trustless, permissionless trading. However, as the space matures, the need for sustainable liquidity, aligned incentives, and scalable infrastructure has never been greater.

    Here we introduce Magma Finance, a next-generation ve(3,3) DEX built on the Sui network. Inspired by the success of protocols like Uniswap, Curve, Shadow, and Aerodrome, Magma Finance is designed to bring the power of ve(3,3) to Sui, creating a vibrant and sustainable liquidity ecosystem.

    Why Build on Sui?

    The Sui network is a next-generation Layer 1 blockchain designed for scalability, speed, and security. For a protocol like Magma Finance, Sui offers several key advantages:

    • Unparalleled Speed: Sui’s unique architecture enables near-instant transaction finality, ensuring a seamless trading experience for users.
    • Low Fees: Sui’s efficient consensus mechanism keeps transaction costs low, making it accessible to traders and liquidity providers of all sizes.
    • High Throughput: Sui can handle thousands of transactions per second, making it ideal for high-volume DeFi applications.
    • Developer-Friendly: Sui’s Move programming language and robust tooling make it easy to build and deploy innovative DeFi protocols.
    • Growing Ecosystem: As a rapidly expanding blockchain, Sui offers Magma Finance the opportunity to be a first-mover in a thriving ecosystem.

    By building on Sui, Magma Finance is positioned to leverage these cutting-edge features to deliver a superior trading experience, attract deep liquidity, and foster a strong community.

    The Evolution of DEXs: From Fragmentation to Collaboration

    Decentralized exchanges have come a long way since the early days of DeFi. Platforms like Uniswap and SushiSwap introduced automated market-making (AMM) mechanisms, enabling users to trade assets without intermediaries. However, as the DeFi ecosystem grew, so did its challenges:

    • Liquidity Fragmentation: Liquidity is often spread thin across multiple platforms, leading to inefficiencies and higher slippage.
    • Misaligned Incentives: Traditional AMMs struggle to balance the needs of liquidity providers (LPs), traders, and token holders.
    • Unsustainable Tokenomics: Many protocols rely on inflationary token emissions to attract users, which can erode long-term value.

    To address these challenges, a new wave of DEXs leveraging the ve(3,3) model has emerged. Protocols like Velodrome, Aerodrome, and Thena have demonstrated the power of this model, fostering deep liquidity, aligned incentives, and strong communities.

    What is ve(3,3)?

    The ve(3,3) model is a new approach to decentralized exchange design, combining vote-escrowed governance with game theory principles to create a self-reinforcing ecosystem.

    How it works:

    • ve (Vote-Escrowed): Users lock their tokens to receive veTokens, granting them governance power and enhanced rewards.
    • (3,3): A reference to game theory, where cooperation between stakeholders (traders, LPs, and token holders) leads to optimal outcomes for all participants.

    Key Benefits of ve(3,3):

    • Deep Liquidity: Long-term token locking attracts concentrated liquidity, reducing slippage and improving trading efficiency.
    • Aligned Incentives: The model ensures that LPs, traders, and token holders all benefit from the protocol’s success.
    • Sustainable Tokenomics: Fee sharing and controlled emissions create a sustainable revenue stream for participants.
    • Community Governance: veToken holders can direct emissions to their preferred pools, ensuring liquidity is allocated where it’s needed most.

    Magma Finance: The ve(3,3) DEX on Sui

    Building on the success of ve(3,3) pioneers like Velodrome, Aerodrome, and Thena, Magma Finance is bringing this innovative model to the Sui network.

    What Sets Magma Apart?

    • Native ve(3,3) Implementation: Magma Finance leverages the proven ve(3,3) model to create a sustainable and efficient liquidity ecosystem on Sui.
    • User-Centric Design: Magma is designed with a focus on simplicity and accessibility, offering an intuitive interface for traders and LPs.
    • Community-Driven Governance: Magma empowers its community through vote-escrowed governance, ensuring the protocol evolves in line with user needs.
    • Cross-Chain Potential: While Magma is native to Sui, its architecture is designed to support cross-chain liquidity and interoperability in the future.

    Magma Finance’s Growth and TVL Expansion

    Since its launch, Magma Finance has demonstrated strong adoption and liquidity growth. The protocol has attracted increasing participation from liquidity providers, with Total Value Locked (TVL) showing significant expansion over the past weeks.

    • As of February 16, 2025, Magma Finance reached $2,000,000 in TVL.
    • By February 21, 2025, the protocol’s TVL surged to $3,700,000.

    This rapid increase in liquidity highlights the confidence of users and investors in Magma Finance’s model and its role in the growing Sui DeFi ecosystem. The accelerating TVL growth suggests an increasing number of market participants are committing to the platform, positioning it as a leading liquidity hub on Sui.

    The Magma Vision: A Collaborative Future

    Magma Finance is more than just a DEX—it’s a community-driven liquidity hub designed to fuel the growth of the Sui ecosystem. By combining the proven ve(3,3) model with Sui’s cutting-edge technology, Magma is poised to become a cornerstone of DeFi on Sui.

    Our Commitment:

    • Sustainability: Magma is built to last, with tokenomics designed to minimize inflation and maximize long-term value.
    • Innovation: We’re constantly exploring new ways to enhance the protocol and deliver value to our users.
    • Community: Magma is powered by its community, and we’re committed to fostering a vibrant and inclusive ecosystem.

    As of the current release, the protocol has attracted more than $2,000,000 of Total Value Locked.

    Press Contact:
    Louise
    ops@magmafinance.io

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bad03c54-528d-4ee4-8655-ce50602c4df2

    The MIL Network –

  • MIL-OSI: Exabits Partners with GAIB to Simplify AI Access with New Cloud Infrastructure Through Tokenized Compute Resources

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, March 03, 2025 (GLOBE NEWSWIRE) — Exabits, the compute baselayer transforming GPU (graphic processing unit) clusters for enterprises and a supplier to decentralized cloud compute companies, and GAIB, the first economic layer for AI and compute financialization, creating a new type of yield bearing assets backed by real AI demands, today announced a strategic partnership to revolutionize how GPU infrastructure is acquired, scaled, and monetized. By combining Exabits’ high-performance AI compute technology with GAIB’s tokenized GPU investment platform, this partnership will unlock new capital flows, expand GPU accessibility, and provide investors with a direct stake in the growing AI compute economy.

    The collaboration addresses a critical challenge in AI and cloud computing—the high cost and limited access to high-performance GPUs. With demand for AI compute skyrocketing, Exabits and GAIB are introducing a scalable investment model that allows institutions, enterprises, and investors to participate in the growth of AI compute infrastructure through tokenized GPU assets.

    Transforming GPU Compute into a High-Value Investment Asset

    GPUs are the core infrastructure powering AI, machine learning, and high-performance computing, yet access remains concentrated among a few large cloud providers. The Exabits-GAIB partnership introduces a new financial model that enables:

    • Ownership of Tokenized GPUs and Their Yields: Investors gain fractional ownership and earn returns tied to real-world GPU utilization.
    • Cloud Compute Expansion: Exabits will scale its AI-ready GPU infrastructure, supplying more compute power to enterprises, DeSci, gaming, and AI-driven industries.
    • New Liquidity Channels: GAIB’s tokenization model and DeFi-based financial instruments enable Exabits to scale more efficiently without relying solely on traditional capital-raising methods.

    “The AI industry is experiencing an unprecedented demand for compute power, but access remains costly and centralized,” said Dr Hoansoo Lee, Co-Founder of Exabits. “By tokenizing GPU assets with GAIB, we’re introducing a new investment model that allows institutional and retail investors to participate in AI’s explosive growth while expanding our infrastructure to meet market needs.”

    “GAIB is building the AiFi economy, which signifies a paradigm shift in how we perceive and utilize computational resources, particularly in the context of artificial intelligence and machine learning., and this partnership with Exabits provides additional support for our vision,” said Kony, CEO of GAIB. “We’re making GPU investments more accessible, liquid, and scalable—bridging the gap between capital markets and the AI revolution.”

    How the Partnership Works

    GPU and Their Yield Tokenization: Transforming Compute Assets into Tradable Financial Products

    Exabits will acquire GPUs through GAIB’s tokenization platform, enabling investors to own a stake in real-world AI compute infrastructure.

    • Exabits’ Role: Identify GPUs for tokenization, ensure transparent asset registration, and deploy them into enterprise-ready cloud compute networks.
    • GAIB’s Role: Develop tokenization protocols, create GPU-based investment products, and manage regulatory compliance.

    Unlocking New Investment Opportunities in AI Compute

    The partnership will provide global investors direct access to GPU-powered cloud infrastructure through structured financial products.

    • Exabits: Establishes hardware procurement needs, enables fractional GPU ownership, and integrates with GAIB’s capital injection models.
    • GAIB: Provides a transparent investment ledger, implements a yield-bearing mechanism that allows investors to earn passive income simply by holding the asset and ensures regulatory compliance.

    Liquidity & Scaling: Expanding AI Infrastructure Without Traditional Funding Barriers

    By leveraging GAIB’s financial instruments, Exabits can scale its GPU infrastructure faster, reducing dependence on traditional VC or debt financing.

    • Exabits: Provides real-time GPU utilization and ROI insights, ensuring investors benefit from tokenized GPU revenues.
    • GAIB: Facilitates buying, selling, and staking of GPU-backed tokens, creating a liquid investment market for AI compute assets.

    Enterprise-Grade Cloud Infrastructure for AI Innovation

    Exabits’ cloud platform will power GAIB’s compute offerings, allowing enterprises to access AI-ready infrastructure at scale.

    Why This Matters: The Future of AI Compute is an Investable Asset

    This partnership is a breakthrough for AI, institutional investors, and the compute economy:
    ✔ For Investors: A new way to earn yield from real, high-demand AI compute assets.
    ✔ For Enterprises: Scalable, high-performance AI infrastructure without pure reliance on traditional cloud providers.
    ✔ For the AI Industry: A more efficient, market-driven model for GPU access and scaling.

    Join the AI Compute Revolution

    The Exabits-GAIB partnership sets a new precedent for how AI infrastructure is funded, scaled, and monetized. As demand for AI compute accelerates, this collaboration will ensure that GPU access is no longer a bottleneck but an investment opportunity for enterprises, investors, and the broader AI ecosystem.

    For more information on how to participate, visit: www.exabits.xyz or https://www.gaib.ai/

    About Exabits

    Exabits is the baselayer for AI compute, providing high-performance cloud infrastructure to enterprises, researchers, and developers. Through proprietary technology and GPU tokenization, Exabits is redefining the future of AI, DeSci, and machine learning compute.

    About GAIB

    GAIB is the first economic layer for AI compute, creating a new type of yield bearing assets backed by real AI demands. It tokenizes enterprise-grade GPUs and their yields, creating a decentralized liquid market for GPU financing, addressing the growing demand for high-performance computing while giving investors direct exposure to GPU assets. The platform enables a variety of DeFi use cases to be on top, including GPU backed stablecoins, lending and borrowing, options and futures, and various structured products.

    Contact:

    Exabits
    contact@exabits.ai

    GAIB
    contact@gaib.ai

    Press Contact: Ari
    ari@reblonde.com

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d9df3469-8ff4-46dc-a833-a2ed57a84953

    The MIL Network –

  • MIL-OSI: 8/2025・Trifork Group AG – Reporting of transactions made by persons discharging managerial responsibilities

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 8 / 2025
    Schindellegi, Switzerland – 3 March 2025


    Reporting of transactions made by persons discharging managerial responsibilities

    Pursuant to the Market Abuse Regulation Article 19, Trifork Group AG (Swiss company registration number CHE-474.101.854) (“Trifork”) hereby notifies receipt of information of the following transactions made by persons discharging managerial responsibilities in Trifork in connection with automatic vesting of Restricted Stock Units (“RSUs”) granted under the terms of a long-term incentive program (the “LTIP“) in accordance with Trifork’s Remuneration Policy.

    1. Details of the person discharging managerial responsibilities/person closely associated
    a) Name Jørn Larsen
    2. Reason for the notification
    a) Position/status CEO
    b) Initial notification/
    Amendment    		 Initial notification
    3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
    a) Name Trifork Group AG
    b) LEI 8945004BYZKXPESTBL36
    4.1 Details of the transaction(s)
    a) Description of the financial instrument, type of instrument

    Identification code

    		 Shares

    ISIN CH1111227810
    b) Nature of the transaction Automatic vesting of 19,990 RSUs granted under the terms of the LTIP. The 19,990 shares were previously held by Trifork as treasury shares.
    c) Price(s) and volume(s) Price(s) Volume(s)
    DKK 0 19,990
    d) Aggregated information
    —
    Aggregated volume —
    Price    		 N/A
    e) Date of the transaction 3 March 2025
    f) Place of the transaction Outside a trading venue
    1. Details of the person discharging managerial responsibilities/person closely associated
    a) Name Kristian Wulf-Andersen
    2. Reason for the notification
    a) Position/status CFO
    b) Initial notification/
    Amendment    		 Initial notification
    3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
    a) Name Trifork Group AG
    b) LEI 8945004BYZKXPESTBL36
    4.1 Details of the transaction(s)
    a) Description of the financial instrument, type of instrument

    Identification code

    		 Shares

    ISIN CH1111227810
    b) Nature of the transaction Automatic vesting of 13,321 RSUs granted under the terms of the LTIP. The 13,321 shares were previously held by Trifork as treasury shares.
    c) Price(s) and volume(s) Price(s) Volume(s)
    DKK 0 13,321
    d) Aggregated information
    —
    Aggregated volume —
    Price    		 N/A
    e) Date of the transaction 3 March 2025
    f) Place of the transaction Outside a trading venue


    Information and questions
    Frederik Svanholm, Group Investment Director, frsv@trifork.com, +41 79 357 73 17


    About Trifork
    Trifork is a pioneering global technology partner, empowering enterprise and public sector customers with innovative solutions. With 1,229 professionals across 73 business units in 16 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Labs, the Group’s R&D hub, drives innovation by investing in and developing synergistic and high-potential technology companies. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

    Attachment

    The MIL Network –

  • MIL-OSI: Seven in ten businesses want simplified customer experience from telecom providers

    Source: GlobeNewswire (MIL-OSI)

    Press contact:
    Florence Lievre
    Tel: + 33 1 47 54 50 71
    Email: florence.lievre@capgemini.com

    Seven in ten businesses want simplified customer experience from telecom providers

    Businesses expect customized, seamless, flexible, and secure experience when purchasing telecom services

    Paris, March 3, 2025 – The first edition of the Capgemini Research Institute’s new annual study ‘The B2B pulse: Top six expectations of telecoms’ business customers’, published today, reveals a significant shift in business customer expectations. Most organizations across sectors expect telecom companies to go beyond connectivity services. The convergence of AI, Cloud, and 5G marks a pivotal moment, requiring operators to transition from product-focused connectivity providers to being comprehensive and client-centric.
      
    The top expectations: industry-tailored solutions, simplification and ecosystem orchestration
    Two in three business customers (67%) expect their telecom partners to demonstrate a deep understanding of specific industry challenges and provide flexible and tailored solutions that fit their needs, rather than generic services.

    Business customers now seek solutions that operate across hybrid networks, edge computing, and cloud environments: around three in five organizations rely on their telecom providers to orchestrate a comprehensive ecosystem that seamlessly integrates IT, support systems, and industry-specific expertise, while seven out of ten expect simpler processes, along with more flexible purchasing and servicing experiences. However, only one in three organizations are currently satisfied with Service Level Agreement (SLA) compliance and network performance/reliability.

    Most organizations (61%) are keen for their telecom provider to act as a source of innovation. Early access to cutting-edge technologies and joint efforts on pilots and prototypes is a top expectation (62%) while organizations are exploring advanced communications services to support a variety of use cases such as autonomous vehicles, smart city applications, cloud connectivity, and real-time industrial automation.

    “In today’s hyperconnected world, telcos are the backbone of the digital economy. Businesses expect telecom providers to move beyond connectivity services, and offer tailored, end-to-end and flexible solutions that power digitalization, operational efficiency, and sustainable growth,” said Praveen Shankar, Global Telecom Leader at Capgemini. “By forging strong partnerships with customers and industry peers, orchestrating an innovation ecosystem and prioritizing seamless customer experience, telecom organizations can enhance trust, simplify offerings, and differentiate themselves in a fast-moving landscape.”

    Customer experience, an untapped opportunity for telco provider growth
    While telcos’ customers are keen to access services beyond the core offerings, only 28% of organizations currently say that they purchase these services, from their provider. In their urgency to set up these value-added services only 27% of organizations say their telco providers currently deliver exceptional CX, while half are ready to pay a premium to improve it, highlighting that customer experience is still an untapped opportunity to accelerate growth and boost loyalty and innovation for telco providers.

    Businesses rely on telecom providers for robust and reliable security safeguards
    Among the various facets of telecom services, cybersecurity is a priority area for more than 70% of the organizations surveyed. With technological advancements, such as AI and Gen AI, cloudification, and wireless/5G networks, the threat landscape for organizations is evolving rapidly and businesses are increasingly concerned about protecting their data and systems. The report highlights that enterprises are looking for comprehensive security solutions from their telecom providers, with more than half of organizations (53%) willing to invest in telecom tech services, such as implementation of advanced cybersecurity solutions, in the next 1–2 years.

    For more information or to download the report, visit: Link

    Methodology

    The Capgemini Research Institute surveyed 1,000 executives, at director level or above from telecoms’ business customers across 11 sectors and 13 countries in Asia–Pacific, Europe, and North America. To complement the survey findings, twenty in-depth discussions were conducted with executives from the telecom industry and customer industries. The global survey was carried out in December 2024 and January 2025.

    About Capgemini
    Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion.
    Get The Future You Want | www.capgemini.com

    About the Capgemini Research Institute
    The Capgemini Research Institute is Capgemini’s in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom and the United States. It was ranked #1 in the world for the quality of its research by independent analysts for six consecutive times – an industry first. Visit us at https://www.capgemini.com/researchinstitute/

    Attachments

    The MIL Network –

  • MIL-Evening Report: Dutton says as PM he would ‘lobby’ Donald Trump to reconsider Ukraine stand

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Peter Dutton says if he became prime minister he would lobby US President Donald Trump “to reconsider his position” on Ukraine.

    The opposition leader, who previously rejected Trump’s description of Ukraine’s President Volodymyr Zelensky as a “dictator”, has gone further in distancing himself from Trump after the shouting match in the Oval Office, when Trump and Vice President JD Vance berated Zelensky.

    “I was disappointed by the scenes out of the White House,” Dutton told a Monday news conference. “I believe that President Zelensky requires the support of European countries, of the United States, and countries like Australia as well.”

    He said the United States has been “an incredibly important ally” for Australia and he regarded it as a reliable one.

    But making decisions in Australia’s best interests sometimes meant “standing up to your friends and to those traditional allies because our views have diverged.

    “In relation to Ukraine, the Australian view at the moment is different to the United States, and my job as prime minister will be to lobby the president of the United States to reconsider his position in relation to Ukraine. Because I think it’s in all of our collective best interests if we’re able to provide support to Ukraine, and that’s something I’m dedicated to.”

    Dutton’s criticism of Trump is at odds with some in his base and some right wing commentators, who are wedded to Trump, right or wrong.

    Unlike policy on the Middle East, where bipartisanship has broken, both sides of Australian politics have remained firmly behind Ukraine from the start of the war. There is no sign of the bipartisanship being under pressure.

    Australia has supplied Ukraine with about $1.5 billion worth of assistance, of which $1.3 billion is military aid.

    Prime Minister Anthony Albanese, speaking at the start of Monday’s cabinet’s meeting, reiterated Australia’s strong backing for the embattled country in its war with Russia.

    “We regard this as an issue of doing what’s right, but also what is in Australia’s national interest.

    “The brave people of Ukraine, led so extraordinarily by President Zelensky, are fighting not just for their national sovereignty and for their democracy. They are fighting for the international rule of law.

    “And it is an easy choice that Australia has made.”

    On Sunday Treasurer Jim Chalmers said “I think President Zelensky is a hero”.

    Dutton on Monday used similar language. “President Zelensky is a modern-day hero. He’s a war hero and he deserves support.”

    On another front – Australia’s bid to avoid the US tariffs on aluminium and steel – while there is bipartisanship, the opposition is from time to time critical of the government’s handling of the issue.

    Shadow finance minister Jane Hume said on Monday: “The Coalition wholeheartedly supports the government’s efforts to make sure that these tariffs are not imposed by the US.

    “We would hope that the government will pull out all stops here in order to make sure that Australia’s national interests, our economic interests, are protected. I do note that Anthony Albanese is the only member of the Quad, which is one of our most important diplomatic relationships with the US, that hasn’t met directly with Donald Trump yet.”

    The new tariffs are due to come into effect on March 12.

    Australia has been further alarmed by an article published late last week by Trump’s trade advisor, Peter Navarro.

    Navarro wrote: “Consider Australia. Its heavily subsidised smelters operate below cost, giving them an unfair dumping advantage, while Australia’s close ties to China further distort global aluminium trade”.

    “Australia and Canada represent frontal assaults on our aluminium markets.”

    Michelle Grattan 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. Dutton says as PM he would ‘lobby’ Donald Trump to reconsider Ukraine stand – https://theconversation.com/dutton-says-as-pm-he-would-lobby-donald-trump-to-reconsider-ukraine-stand-251256

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: Suggestions, proposals at NPC & CPPCC sessions deliver tangible benefits

    Source: China State Council Information Office 2

    The Chinese government has turned thousands of suggestions and proposals from national lawmakers and political advisors at the country’s top political meetings last year into concrete actions, benefiting people’s livelihoods and economic development, said a spokesperson of the State Council Information Office (SCIO) on Friday.

    On Feb. 28, 2025, the State Council Information Office holds a policy briefing in Beijing on handling suggestions from deputies to the National People’s Congress and proposals of the National Committee of the Chinese People’s Political Consultative Conference in 2024. [Photo by Liu Jian/China SCIO]
    In 2024, government departments reviewed and acted on 8,783 suggestions from deputies of the National People’s Congress (NPC) and 4,813 proposals from members of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), addressing key public concerns, said Xing Huina, a spokesperson of the SCIO.
    More than 5,000 recommendations were adopted by various government departments, leading to over 2,000 policy measures that tackled major economic and social issues, she said.

    Senior residents order a meal at Qingshuiwan community canteen in Yinchuan, Ningxia Hui autonomous region, Aug. 1, 2024. [Photo/Xinhua]
    One standout area is eldercare, a growing priority as China’s population ages. Tang Chengpei, vice minister of civil affairs, highlighted how 87 suggestions and proposals from the “two sessions” shaped nationwide efforts to improve eldercare services. “Developing ‘near-home’ eldercare allows seniors to live comfortably in familiar surroundings, which aligns with both national conditions and public expectations,” Tang said.
    To this end, the government has expanded the national three-tiered eldercare network, establishing 446 demonstration centers at the county level and developing 367,000 community-based eldercare facilities.
    The ministry is committed to improving home-based services, having supported the establishment of 75,000 senior dining centers and the renovation of over 2 million homes to enhance accessibility in recent years, according to Tang. These initiatives aim to ensure seniors receive care at the doorsteps of their own homes.
    Efforts to renovate urban villages were also significantly accelerated following suggestions from NPC deputies. Jiang Wanrong, vice minister of housing and urban-rural development, said the input from the deputies “played a crucial role in advancing urban village renovations.”
    “We worked closely with the deputies who submitted suggestions, conducting on-site inspections and holding multiple discussions to ensure effective implementation,” Jiang said. 
    At the news briefing, he highlighted key measures taken, including prioritizing projects in areas with urgent public demand and serious safety risks, as well as expanding policy coverage. “We have now extended urban village renovation efforts beyond 35 major cities to all prefecture-level cities,” he said. 
    In 2024 alone, 1,863 urban village renovation projects were launched, benefiting about 1.37 million households. 
    In addition, financial support policies were enhanced last year to address concerns raised by lawmakers, political advisors, and the public in key areas such as employment, healthcare, and education, according to Vice Finance Minister Guo Tingting.

    Job seekers attend a job fair held for the 2025 graduates of the Heilongjiang University in Harbin, Heilongjiang province, Dec. 23, 2024. [Photo/Xinhua]
    To stabilize employment, the finance ministry extended reduced unemployment and work injury insurance rates and enhanced job retention and skill improvement subsidies in 2024. 
    Healthcare support has also expanded. In 2024, the per capita government subsidy for urban and rural residents’ medical insurance increased by 30 yuan (US$4.12) to 670 yuan annually.
    From the spring semester of 2024, China raised the national baseline for living subsidies for students from economically difficult families, benefiting around 20 million students who received compulsory education, Guo said. Higher education support has also been strengthened with expanded national scholarships and student loans, benefiting 23 million students, she added.
    To support vulnerable groups, the Ministry of Finance has enhanced the dynamic adjustment mechanism for subsistence allowances, ensuring the safety net for those in need, Guo said. By the end of 2024, the average minimum subsistence allowance reached 798 yuan per month in urban areas and 594 yuan in rural areas.
    In celebration of the 75th anniversary of the People’s Republic of China last year, a one-time subsidy of 1,000 yuan per person was also distributed to almost 11.54 million people living with difficulties, the vice finance minister said.

    MIL OSI China News –

  • MIL-OSI: NBPE Announces January Monthly NAV Estimate

    Source: GlobeNewswire (MIL-OSI)

    3 March 2025

    NB Private Equity Partners (NBPE), the $1.3bn1, FTSE 250, listed private equity investment company managed by Neuberger Berman, today announces its 31 January 2025 monthly NAV estimate.

    NAV Highlights (31 January 2025)

    • NAV per share was $27.10 (£21.81), a total return of 2.5% in the month, after accruing the 1H 2025 dividend
    • Approximately 78% of fair value based on private company valuation information as of Q4 2024 or based on 31 January 2025 quoted prices
    • Based on information received so far, private company valuations increased by 2.8% (measured against the NAV of all private investments) during Q4 2024 on a constant currency basis
    • NBPE expects to receive additional updated Q4 2024 financial information which will be incorporated in the monthly NAV updates in the coming weeks
    • $281 million of available liquidity at 31 January 2025
    • ~21k shares repurchased during January 2025 at a weighted average discount of 29% which were accretive to NAV by <$0.01 per share
    As of 31 January 2025 Year to Date One Year 3 years 5 years 10 years
    NAV TR (USD)*
    Annualised    		 2.5% 2.1% 3.2%
    1.1%    		 70.1%
    11.2%    		 166.4%
    10.3%
    MSCI World TR (USD)*
    Annualised    		 3.6% 21.9% 33.4%
    10.1%    		 81.1%
    12.6%    		 186.7%
    11.1%
               
    Share price TR (GBP)*
    Annualised    		 0.2% (0.2%) 1.5%
    0.5%    		 59.3%
    9.8%    		 201.1%
    11.7%
    FTSE All-Share TR (GBP)*
    Annualised    		 5.5% 17.1% 25.5%
    7.9%    		 37.9%
    6.6%    		 87.1%
    6.5%

    * All NBPE performance figures assume re-investment of dividends on the ex-dividend date and reflect cumulative returns over the relevant time periods shown. Three-year, five-year and ten-year annualised returns are presented for USD NAV, MSCI World (USD), GBP Share Price and FTSE All-Share (GBP) Total Returns.

    Portfolio Update to 31 January 2025

    NAV performance during the month driven by:

    • 3.0% NAV increase ($37 million) from the receipt of private company valuation information
    • 1.7% NAV decrease ($22 million) attributable to the 1H 2025 dividend accrual
    • 0.4% NAV decrease ($5 million) from the value of quoted holdings (which now constitute 6% of portfolio fair value)
    • 0.2% NAV decrease ($3 million) attributable to expense accruals
    • Immaterial impact on NAV from changes in FX

    $3 million of realisations in 2025 to date

    • $3 million of realisations received during the month of January, consisting of partial realisation proceeds

    $281 million of total liquidity at 31 January 2025

    • $71 million of cash and liquid investments with $210 million of undrawn credit line available

    2025 Share Buybacks

    • ~21k shares repurchased in January 2025 at a weighted average discount of 29%
    • Buybacks were accretive to NAV by <$0.01 per share
    • On 19th February, NBPE’s board announced that it had reserved $120 million for buybacks over the next three years

    Portfolio Valuation

    The fair value of NBPE’s portfolio as of 31 January 2025 was based on the following information:

    • 6% of the portfolio was valued as of 31 January 2025
      • 6% in public securities
    • 72% of the portfolio was valued as of 31 December 2024
      • 72% in private direct investments
    • 22% of the portfolio was valued as of 30 September 2024
      • 22% in private direct investments

    For further information, please contact:

    NBPE Investor Relations        +44 (0) 20 3214 9002
    Luke Mason        NBPrivateMarketsIR@nb.com  

    Kaso Legg Communications        +44 (0)20 3882 6644

    Charles Gorman        nbpe@kl-communications.com
    Luke Dampier
    Charlotte Francis

    Supplementary Information (as at 31 January 2025)

    Company Name Vintage Lead Sponsor Sector Fair Value ($m) % of FV
    Action 2020 3i Consumer 74.7 5.8%
    Osaic 2019 Reverence Capital Financial Services 70.6 5.4%
    Solenis 2021 Platinum Equity Industrials 60.0 4.6%
    BeyondTrust 2018 Francisco Partners Technology / IT 50.0 3.9%
    Business Services Company* 2017 Not Disclosed Business Services 40.1 3.1%
    Branded Cities Network 2017 Shamrock Capital Communications / Media 39.2 3.0%
    Monroe Engineering 2021 AEA Investors Industrials 38.2 2.9%
    Mariner 2024 Leonard Green & Partners Financial Services 34.8 2.7%
    GFL (NYSE: GFL) 2018 BC Partners Business Services 34.1 2.6%
    FDH Aero 2024 Audax Group Industrials 33.0 2.5%
    True Potential 2022 Cinven Financial Services 32.3 2.5%
    Staples 2017 Sycamore Partners Business Services 31.6 2.4%
    Marquee Brands 2014 Neuberger Berman Consumer 31.2 2.4%
    Auctane 2021 Thoma Bravo Technology / IT 28.8 2.2%
    Fortna 2017 THL Industrials 28.7 2.2%
    Viant 2018 JLL Partners Healthcare 27.1 2.1%
    Stubhub 2020 Neuberger Berman Consumer 26.5 2.0%
    Benecon 2024 TA Associates Healthcare 26.0 2.0%
    Agiliti 2019 THL Healthcare 25.3 1.9%
    Solace Systems 2016 Bridge Growth Partners Technology / IT 24.4 1.9%
    Engineering 2020 NB Renaissance / Bain Capital Technology / IT 24.1 1.9%
    Addison Group 2021 Trilantic Capital Partners Business Services 23.8 1.8%
    Kroll 2020 Further Global / Stone Point Financial Services 23.6 1.8%
    USI 2017 KKR Financial Services 22.2 1.7%
    Qpark 2017 KKR Transportation 22.0 1.7%
    Excelitas 2022 AEA Investors Industrials 21.9 1.7%
    CH Guenther 2021 Pritzker Private Capital Consumer 21.4 1.7%
    Exact 2019 KKR Technology / IT                            21.4 1.6%
    Bylight 2017 Sagewind Partners Technology / IT 19.5 1.5%
    AutoStore (OB.AUTO) 2019 THL Industrials 18.8 1.4%
    Total Top 30 Investments                             $975.2 75.1%

    *Undisclosed company due to confidentiality provisions.

    Geography % of Portfolio
    North America 79%
    Europe 20%
    Asia / Rest of World 1%
    Total Portfolio 100%
       
    Industry % of Portfolio
    Tech, Media & Telecom 22%
    Consumer / E-commerce 21%
    Industrials / Industrial Technology 17%
    Financial Services 16%
    Business Services 11%
    Healthcare 8%
    Other 4%
    Energy 1%
    Total Portfolio 100%
       
    Vintage Year % of Portfolio
    2016 & Earlier 10%
    2017 18%
    2018 15%
    2019 13%
    2020 12%
    2021 17%
    2022 5%
    2023 2%
    2024 8%
    Total Portfolio 100%

    About NB Private Equity Partners Limited
    NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.

    LEI number: 213800UJH93NH8IOFQ77

    About Neuberger Berman
    Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $508 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman’s investment philosophy is founded on active management, fundamental research and engaged ownership. The firm’s leadership in stewardship and sustainable investing is recognized by the PRI based on its consecutive above median reporting assessment results. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last eleven years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of 31 December 2024, unless otherwise noted.

    1Based on net asset value.

    Attachment

    The MIL Network –

  • MIL-OSI: ING to repurchase shares for employee compensation

    Source: GlobeNewswire (MIL-OSI)

    ING to repurchase shares for employee compensation

    ING announced today the start of a share repurchase programme under which it plans to repurchase ordinary shares of ING Groep N.V., for a maximum total amount of €70 million. The purpose of the share repurchase programme is to meet obligations under ING’s share-based compensation plans.

    The share repurchase will commence on 3 March 2025 and is expected to end no later than 7 March 2025.

    The ECB has approved the repurchase, which will be executed in compliance with the Market Abuse Regulation and within the limitations of the existing authority to acquire a maximum of 20% of the issued shares as granted by the general meeting of shareholders on 22 April 2024.

    More information on our share buyback programmes can be found on the Investor Relations section of the ING website: https://www.ing.com/Investor-relations/Share-information/Share-buyback-programme.htm.

    Note for editors

    For further information on ING, please visit www.ing.com. Frequent news updates can be found in the Newsroom or via the @ING_news X feed. Photos of ING operations, buildings and its executives are available for download at Flickr.

    Press enquiries   Investor enquiries
    Christoph Linke   ING Group Investor Relations
    +31 20 576 5000   +31 20 576 6396
    Christoph.Linke@ing.com   Investor.Relations@ing.com

    ING PROFILE

    ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank’s more than 60,000 employees offer retail and wholesale banking services to customers in over 100 countries.

    ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).

    ING aims to put sustainability at the heart of what we do. Our policies and actions are assessed by independent research and ratings providers, which give updates on them annually. ING’s ESG rating by MSCI was reconfirmed by MSCI as ‘AA’ in August 2024 for the fifth year. As of December 2023, in Sustainalytics’ view, ING’s management of ESG material risk is ‘Strong’. Our current ESG Risk Rating, is 17.2 (Low Risk). ING Group shares are also included in major sustainability and ESG index products of leading providers. Here are some examples: Euronext, STOXX, Morningstar and FTSE Russell. Society is transitioning to a low-carbon economy. So are our clients, and so is ING. We finance a lot of sustainable activities, but we still finance more that’s not. Follow our progress on ing.com/climate.

    IMPORTANT LEGAL INFORMATION

    Elements of this press release contain or may contain information about ING Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/2014 (‘Market Abuse Regulation’).

    ING Group’s annual accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (‘IFRS- EU’). In preparing the financial information in this document, except as described otherwise, the same accounting principles are applied as in the 2023 ING Group consolidated annual accounts. The Financial statements for 2024 are in progress and may be subject to adjustments from subsequent events. All figures in this document are unaudited. Small differences are possible in the tables due to rounding.

    Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to a number of factors, including, without limitation: (1) changes in general economic conditions and customer behaviour, in particular economic conditions in ING’s core markets, including changes affecting currency exchange rates and the regional and global economic impact of the invasion of Russia into Ukraine and related international response measures (2) changes affecting interest rate levels (3) any default of a major market participant and related market disruption (4) changes in performance of financial markets, including in Europe and developing markets

    (5) fiscal uncertainty in Europe and the United States (6) discontinuation of or changes in ‘benchmark’ indices (7) inflation and deflation in our principal markets (8) changes in conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness (9) failures of banks falling under the scope of state compensation schemes (10) non- compliance with or changes in laws and regulations, including those concerning financial services, financial economic crimes and tax laws, and the interpretation and application thereof (11) geopolitical risks, political instabilities and policies and actions of governmental and regulatory authorities, including in connection with the invasion of Russia into Ukraine and the related international response measures (12) legal and regulatory risks in certain countries with less developed legal and regulatory frameworks (13) prudential supervision and regulations, including in relation to stress tests and regulatory restrictions on dividends and distributions (also among members of the group) (14) ING’s ability to meet minimum capital and other prudential regulatory requirements (15) changes in regulation of US commodities and derivatives businesses of ING and its customers (16) application of bank recovery and resolution regimes, including write down and conversion powers in relation to our securities (17) outcome of current and future litigation, enforcement proceedings, investigations or other regulatory actions, including claims by customers or stakeholders who feel misled or treated unfairly, and other conduct issues (18) changes in tax laws and regulations and risks of non-compliance or investigation in connection with tax laws, including FATCA (19) operational and IT risks, such as system disruptions or failures, breaches of security, cyber-attacks, human error, changes in operational practices or inadequate controls including in respect of third parties with which we do business and including any risks as a result of incomplete, inaccurate, or otherwise flawed outputs from the algorithms and data sets utilized in artificial intelligence (20) risks and challenges related to cybercrime including the effects of cyberattacks and changes in legislation and regulation related to cybersecurity and data privacy, including such risks and challenges as a consequence of the use of emerging technologies, such as advanced forms of artificial intelligence and quantum computing (21) changes in general competitive factors, including ability to increase or maintain market share (22) inability to protect our intellectual property and infringement claims by third parties (23) inability of counterparties to meet financial obligations or ability to enforce rights against such counterparties (24) changes in credit ratings (25) business, operational, regulatory, reputation, transition and other risks and challenges in connection with climate change and ESG-related matters, including data gathering and reporting (26) inability to attract and retain key personnel (27) future liabilities under defined benefit retirement plans (28) failure to manage business risks, including in connection with use of models, use of derivatives, or maintaining appropriate policies and guidelines (29) changes in capital and credit markets, including interbank funding, as well as customer deposits, which provide the liquidity and capital required to fund our operations, and (30) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING’s more recent disclosures, including press releases, which are available on www.ING.com.

    This document may contain ESG-related material that has been prepared by ING on the basis of publicly available information, internally developed data and other third-party sources believed to be reliable. ING has not sought to independently verify information obtained from public and third-party sources and makes no representations or warranties as to accuracy, completeness, reasonableness or reliability of such information.

    Materiality, as used in the context of ESG, is distinct from, and should not be confused with, such term as defined in the Market Abuse Regulation or as defined for Securities and Exchange Commission (‘SEC’) reporting purposes. Any issues identified as material for purposes of ESG in this document are therefore not necessarily material as defined in the Market Abuse Regulation or for SEC reporting purposes. In addition, there is currently no single, globally recognized set of accepted definitions in assessing whether activities are “green” or “sustainable.” Without limiting any of the statements contained herein, we make no representation or warranty as to whether any of our securities constitutes a green or sustainable security or conforms to present or future investor expectations or objectives for green or sustainable investing. For information on characteristics of a security, use of proceeds, a description of applicable project(s) and/or any other relevant information, please reference the offering documents for such security.

    This document may contain inactive textual addresses to internet websites operated by us and third parties. Reference to such websites is made for information purposes only, and information found at such websites is not incorporated by reference into this document. ING does not make any representation or warranty with respect to the accuracy or completeness of, or take any responsibility for, any information found at any websites operated by third parties. ING specifically disclaims any liability with respect to any information found at websites operated by third parties. ING cannot guarantee that websites operated by third parties remain available following the publication of this document, or that any information found at such websites will not change following the filing of this document. Many of those factors are beyond ING’s control.

    Any forward-looking statements made by or on behalf of ING speak only as of the date they are made, and ING assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.

    This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States or any other jurisdiction.

    Attachment

    The MIL Network –

  • MIL-OSI: Brookfield Wealth Solutions Launches in the United Kingdom

    Source: GlobeNewswire (MIL-OSI)

    BROOKFIELD, NEWS, March 03, 2025 (GLOBE NEWSWIRE) — Brookfield Wealth Solutions (NYSE, TSX: BNT) is entering the UK insurance market to focus on delivering bulk annuity solutions for UK pension schemes. This follows a comprehensive approval process carried out by the Prudential Regulation Authority (“PRA”) and the Financial Conduct Authority (“FCA”).

    Brookfield Wealth Solutions will bring its capital and strong track record of servicing policyholders from its substantial North American operations as one of the first new entrants in the UK market. With over £500 billion of demand for pension buyouts expected over the next decade, the UK represents a significant opportunity to grow, create employment and invest domestically in the UK market.

    The entry for Brookfield Wealth Solutions, which was spun out of Brookfield Corporation in June 2021, will further extend Brookfield’s presence in the UK, where it is already a leading investor with over £63 billion of assets under management across infrastructure, real estate, and renewable power. Brookfield and its UK portfolio companies employ approximately 23,000 people across the UK.

    Sachin Shah, CEO, Brookfield Wealth Solutions said: “We are thrilled to launch Brookfield Wealth Solutions in the UK. With more than $140 billion in total assets, we look forward to serving the retirement needs of UK pensioners for the long term. Our group-wide commitment is to provide long-term financial security for our policyholders and clients, serviced by strong, well capitalized companies with high quality investment portfolios. The PRA and the FCA have been efficient, professional and highly constructive during our approval process, and we look forward to working further with them in the future.”

    Brookfield Wealth Solutions is expected to begin operations later in the first quarter subject to final regulatory approvals and will operate under the Blumont Annuity UK brand.

    About Brookfield Wealth Solutions

    Brookfield Wealth Solutions Ltd. (NYSE, TSX: BNT) is focused on securing the financial futures of individuals and institutions through a range of retirement services, wealth protection products and tailored capital solutions. Each class A exchangeable limited voting share of Brookfield Wealth Solutions is exchangeable on a one-for-one basis with a class A limited voting share of Brookfield Corporation (NYSE, TSX: BN). For more information, visit bnt.brookfield.com.

    About Blumont Annuity UK

    Blumont Annuity Company UK Ltd., based in London, will be a provider of bulk annuity solutions in the United Kingdom.

    For more information, please contact:
     
    Media:   Investor Relations:
    Kerrie McHugh   Rachel Schneider
    Tel: (212) 618-3469   Tel: (416) 369-3358
    Email: kerrie.mchugh@brookfield.com   Email: Rachel.schneider@brookfield.com
         

    Notice to Readers

    This news release and any related oral statements made by our representatives may contain “forward-looking information” within the meaning of Canadian provincial securities laws, “forward-looking statements” within the meaning of Canadian provincial securities laws, “forward-looking statements” within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, and “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations (collectively, “forward-looking statements”). Forward-looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management’s current estimates, assumptions and expectations regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies, capital management and outlook of Brookfield Wealth Solutions and its subsidiaries, including Blumont Annuity UK, as well as the outlook for international economies for the current fiscal year and subsequent periods.

    In some cases, forward-looking statements can be identified by the use of the words such as “believes,” “thinks,” “expects,” “potential,” “anticipates,” “plans,” “believes,” “estimates,” “seeks,” “intends,” “targets,” “projects,” “foresees,” “forecasts,” or negative versions thereof and other similar expressions, or future or conditional verbs such as “may,” “will,” “should,” “would” and “could.” In particular, the forward-looking statements contained in this news release include statements regarding the growth of our business, the status of regulatory approvals including the anticipated timing thereof, the size of the UK pension market and opportunities relating thereto.

    Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable estimates, assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of Brookfield Wealth Solutions or Blumont Annuity UK to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

    Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: (i) investment returns that are lower than target; (ii) the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business; (iii) the behavior of financial markets, including fluctuations in interest and foreign exchange rates; (iv) global equity and capital markets and the availability of equity and debt financing and refinancing within these markets (v) litigation; (vi) changes in tax laws; (vii) ability to collect amounts owed; (viii) catastrophic events, such as earthquakes, hurricanes and epidemics/pandemics; (ix) the possible impact of international conflicts and other developments including terrorist acts and cyberterrorism; (x) the introduction, withdrawal, success and timing of business initiatives and strategies; (xi) the failure of effective disclosure controls and procedures and internal controls over financial reporting and other risks; (xii) health, safety and environmental risks; (xiii) the maintenance of adequate insurance coverage; (xiv) the existence of information barriers between certain businesses within Brookfield’s asset management operations; (xv) risks specific to our business segments; (xvi) factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States; and (xvii) the failure to obtain and/or maintain required regulatory approvals.

    We caution that the foregoing list of important factors that may affect future results is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the foregoing risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such forward-looking information. Except as required by law, Brookfield Wealth Solutions undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, whether as a result of new information, future events or otherwise.

    Past performance is not indicative nor a guarantee of future results. There can be no assurance that comparable results will be achieved in the future, that future investments will be similar to the historic investments discussed herein, that targeted returns, growth objectives, diversification or asset allocations will be met or that an investment strategy or investment objectives will be achieved (because of economic conditions, the availability of investment opportunities or otherwise).

    Readers are urged to consider the foregoing risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such forward-looking information.

    The MIL Network –

  • MIL-OSI: Manora Drilling Update

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, March 03, 2025 (GLOBE NEWSWIRE) — Valeura Energy Inc. (TSX:VLE, OTCQX:VLERF) (“Valeura” or the “Company”) is pleased to announce the successful completion of an infill drilling campaign at the Manora field in Licence G1/48 (70% operated working interest), offshore Gulf of Thailand.

    Dr. Sean Guest, President and CEO commented:

    “Our most recent drilling at Manora has both increased oil production rates and successfully appraised additional targets which will form the basis of future infill development drilling.  While the Manora field accounts for only about 10% of our year-to-date production, it is an excellent example of the potential for Gulf of Thailand fields to add many years of economic field life through targeted ongoing activity.  In 2025 we intend to pursue a full year of drilling operations across our portfolio, aimed at continuing our proven track record of adding reserves year on year to support continued cash flow generation.” 

    Valeura drilled a five well programme, comprised of three production-oriented infill development wells and two appraisal wells.  In aggregate, the Company’s Manora field working interest share oil production before royalties has increased from 2,144 bbls/d (December 2024 average) to 2,866 bbls/d for the last 14-day period.  Additionally, the appraisal objectives of the campaign have yielded between three and five potential future drilling targets, which will be further evaluated for inclusion in a future drilling programme.

    The A34 well was drilled for infill development targets within the deep 600-series sands in the field’s eastern fault block.  The well was successful and has been completed as a multi-zone comingled producer.

    The horizontal A38 well was also drilled into the eastern fault block, with the objective of developing the shallower 300-series sands.  It was completed as a producer, with the well design incorporating an innovative downhole autonomous inflow control device (“ICD”) to manage water vs oil production.  The Company is monitoring the impact of this, and other ICDs deployed elsewhere on its fields, to optimise the application of this technology across the portfolio.

    The A36 well targeted sands across several known producing intervals in the field’s main fault block and has been completed as a multi-zone infill development well.  As is normal in many multi-zone wells, only the deepest targets are currently producing and the shallower zones will be brought on production later.

    The A35 well successfully appraised several zones of interest within the shallower 300-series sands.  While this appraisal well will not be used a producer (and accordingly has been plugged and abandoned), the results encountered have indicated the potential for three further development wells within this reservoir section, which will now be further studied and modelled for inclusion in future development drilling.

    The horizontal A37 well was drilled as a combination appraisal and development well.  The well encountered an encouraging appraisal target in the 500-series sands, which is now being matured for inclusion in a future drilling campaign.  The well’s development target, within the deeper 600-series sands was completed as a producer.

    Following completion of the Manora drilling campaign, the Company’s contracted drilling rig has mobilised to Licence B5/27 (100% operated interest) where it is currently conducting a drilling programme on the Jasmine C wellhead platform.

    For further information, please contact:  
       
    Valeura Energy Inc. (General Corporate Enquiries)                       
    Sean Guest, President and CEO
    Yacine Ben-Meriem, CFO
    Contact@valeuraenergy.com     		 +65 6373 6940
       
    Valeura Energy Inc. (Investor and Media Enquiries)                       
    Robin James Martin, Vice President, Communications and Investor Relations
    IR@valeuraenergy.com    		 +1 403 975 6752 / +44 7392 940495
       

    Contact details for the Company’s advisors, covering research analysts and joint brokers, including Auctus Advisors LLP, Canaccord Genuity Ltd (UK), Cormark Securities Inc., Research Capital Corporation, and Stifel Nicolaus Europe Limited, are listed on the Company’s website at www.valeuraenergy.com/investor-information/analysts/.

    About the Company

    Valeura Energy Inc. is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Türkiye. The Company is pursuing a growth-oriented strategy and intends to re-invest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value accretive growth for stakeholders while adhering to high standards of environmental, social and governance responsibility.

    Additional information relating to Valeura is also available on SEDAR+ at www.sedarplus.ca.

    Advisory and Caution Regarding Forward-Looking Information

    Certain information included in this news release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is for the purpose of explaining management’s current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “project”, “target” or similar words suggesting future outcomes or statements regarding an outlook.

    Forward-looking information in this news release includes, but is not limited to, the potential for successfully appraised targets to form the basis of further infill development drilling, and the number of future drilling targets; the Company’s intention to pursue a full year of drilling operations across its portfolio in 2025; and the Company’s expectation to bring shallower zones on production later in the A36 well.  In addition, statements related to “reserves” and “resources” are deemed to be forward-looking information as they involve the implied assessment, based on certain estimates and assumptions, that the resources can be discovered and profitably produced in the future. 

    Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect.

    Forward-looking information is based on management’s current expectations and assumptions regarding, among other things: political stability of the areas in which the Company is operating; continued safety of operations and ability to proceed in a timely manner; continued operations of and approvals forthcoming from governments and regulators in a manner consistent with past conduct; ability to achieve extensions to licences in Thailand and Türkiye to support attractive development and resource recovery; future drilling activity on the required/expected timelines; the prospectivity of the Company’s lands; the continued favourable pricing and operating netbacks across its business; future production rates and associated operating netbacks and cash flow; decline rates; future sources of funding; future economic conditions; the impact of inflation of future costs; future currency exchange rates; interest rates; the ability to meet drilling deadlines and fulfil commitments under licences and leases; future commodity prices; the impact of the Russian invasion of Ukraine; the impact of conflicts in the Middle East; royalty rates and taxes; management’s estimate of cumulative tax losses being correct; future capital and other expenditures; the success obtained in drilling new wells and working over existing wellbores; the performance of wells and facilities; the availability of the required capital to funds its exploration, development and other operations, and the ability of the Company to meet its commitments and financial obligations; the ability of the Company to secure adequate processing, transportation, fractionation and storage capacity on acceptable terms; the capacity and reliability of facilities; the application of regulatory requirements respecting abandonment and reclamation; the recoverability of the Company’s reserves and contingent resources; future growth; the sufficiency of budgeted capital expenditures in carrying out planned activities; the impact of increasing competition; the availability and identification of mergers and acquisition opportunities; the ability to successfully negotiate and complete any mergers and acquisition opportunities; the ability to efficiently integrate assets and employees acquired through acquisitions; global energy policies going forward; international trade policies; future debt levels; and the Company’s continued ability to obtain and retain qualified staff and equipment in a timely and cost efficient manner. In addition, the Company’s work programmes and budgets are in part based upon expected agreement among joint venture partners and associated exploration, development and marketing plans and anticipated costs and sales prices, which are subject to change based on, among other things, the actual results of drilling and related activity, availability of drilling, offshore storage and offloading facilities and other specialised oilfield equipment and service providers, changes in partners’ plans and unexpected delays and changes in market conditions. Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect.

    Forward-looking information involves significant known and unknown risks and uncertainties. Exploration, appraisal, and development of oil and natural gas reserves and resources are speculative activities and involve a degree of risk. A number of factors could cause actual results to differ materially from those anticipated by the Company including, but not limited to: the ability of management to execute its business plan or realise anticipated benefits from acquisitions; the risk of disruptions from public health emergencies and/or pandemics; competition for specialised equipment and human resources; the Company’s ability to manage growth; the Company’s ability to manage the costs related to inflation; disruption in supply chains; the risk of currency fluctuations; changes in interest rates, oil and gas prices and netbacks; the risk that the Company’s tax advisors’ and/or auditors’ assessment of the Company’s cumulative tax losses varies significantly from management’s expectations of the same; potential changes in joint venture partner strategies and participation in work programmes; uncertainty regarding the contemplated timelines and costs for work programme execution; the risks of disruption to operations and access to worksites; potential changes in laws and regulations, including international treaties and trade policies; the uncertainty regarding government and other approvals; counterparty risk; the risk that financing may not be available; risks associated with weather delays and natural disasters; and the risk associated with international activity. See the most recent annual information form and management’s discussion and analysis of the Company for a detailed discussion of the risk factors.

    Certain forward-looking information in this news release may also constitute “financial outlook” within the meaning of applicable securities legislation. Financial outlook involves statements about Valeura’s prospective financial performance or position and is based on and subject to the assumptions and risk factors described above in respect of forward-looking information generally as well as any other specific assumptions and risk factors in relation to such financial outlook noted in this news release. Such assumptions are based on management’s assessment of the relevant information currently available, and any financial outlook included in this news release is made as of the date hereof and provided for the purpose of helping readers understand Valeura’s current expectations and plans for the future. Readers are cautioned that reliance on any financial outlook may not be appropriate for other purposes or in other circumstances and that the risk factors described above or other factors may cause actual results to differ materially from any financial outlook.

    The forward-looking information contained in this news release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.

    This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, including where such offer would be unlawful. This news release is not for distribution or release, directly or indirectly, in or into the United States, Ireland, the Republic of South Africa or Japan or any other jurisdiction in which its publication or distribution would be unlawful.

    Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release.

    This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

    The MIL Network –

  • MIL-OSI Global: Lack of justice in Indonesia’s climate plan may backfire, harming people and environment

    Source: The Conversation – Indonesia – By Wira A. Swadana, Climate Action Senior Lead, World Resources Institute

    Indonesia has developed several climate documents as pathways to curb climate change and adapt to its impacts. These impacts influence many elements of life, including displacement, the spread of infectious diseases, and even fatalities.

    Some of these documents include Enhanced Nationally Determined Contributions, Long-Term Strategy for Low Carbon and Climate Resilience 2050 (LTS-LCCR), and Low Carbon Development Indonesia (LCDI).

    As a scholar in social development and environmental policy, I conducted a descriptive analysis of more than five Indonesia’s climate documents to learn how the concept of a just transition is being integrated into Indonesia’s climate policies. My analisis reveals that the current narrative in those documents is limited to the outcomes of climate-related approaches.

    I found that these climate documents have failed to adequately address the social and environmental aspects that are fundamental to a ‘just transition’ — a global effort to combat climate change and shift towards a sustainable economy while improving the condition of people and the environment.

    Indonesia’s climate action is important because the country is home to vast tropical forests and extensive peatlands, which act as important carbon sinks. Yet, it remains one of the world’s largest emitters.

    Indonesia’s just transition is essential as it supports global efforts to mitigate climate change while ensuring that the shift is more sustainable and inclusive. Neglecting these factors in the transition can risk equity, justice, and inclusion for affected communities and ecosystems in Indonesia’s climate actions.

    The risks it posed

    So far, Indonesia’s just transition narrative concentrates mainly on the energy sector. For instance, the government’s white paper on just transition, released in September last year, centres solely on the energy aspect.

    Additionally, the use of the word just in the Just Energy Transition Partnership (JETP) — an international partnership aiming at speeding Indonesia’s renewable energy development and coal phase-out — has helped popularise the notion.

    A just transition should include broader efforts to limit and adapt to climate change, given these changes directly impact communities. Despite its increasing recognition in the energy sector, just transition remains a long way from being completely integrated into Indonesia’s climate initiatives.

    In the forestry sector, Indonesia’s strategy to apply Sustainable Forest Management (SFM) practices, which includes selective logging practices to minimise damage, may lead to the prohibition of traditional slash-and-burn farming in some areas. This threatens local communities that have long practised controlled burning as a sustainable land management method.

    Similarly, under FOLU Net Sink 2030 — Indonesia’s plan to reduce emissions from forestry and land-use — the government has introduced community forestry initiatives to improve livelihood. However, the strategy does not yet address the potential consequences for people who rely on forests for their livelihoods and cultural heritage, which could be jeopardised by by SFM practices.

    Moreover, Indonesia’s climate resilience strategies for coastal communities overlook the socio-cultural importance of fishing as a key source of income. For example, the government plans to provide business development training to assist fishing families in diversifying their income in response to extreme weather conditions. However, without acknowledging the deep cultural and economic ties these communities have to fishing, such initiatives risk being ineffective.

    The cost we bear

    The lack of justice in Indonesia’s transition agenda has backfired, with negative consequences for both people and the environment.

    For example, the energy shift demands Indonesia to exploit more of its abundant nickel resources for EV batteries, particularly in central and eastern Indonesia. To assist nickel mining and processing, the government has implemented several policies.

    While the nickel boom has helped resource-rich provinces like North Maluku and Central Sulawesi boost their economic growth, it has also had serious impacts. Indonesia’s greenhouse gas emissions climbed by 20% between 2022 and 2023, owing to the dependency on coal for nickel processing facilities.

    Beyond emissions, nickel mining has also led to deforestation and pollution, affecting local communities who rely on natural resources for their livelihoods and cultural preservation, while also harming biodiversity in mining areas.

    The expense of the nickel rush demonstrates how an unjust energy transition can exacerbate challenges faced by vulnerable communities and further degrade the environment.

    Next steps

    To integrate just transition principles effectively, Indonesia must first redefine the term ‘just transition’ within its own context. Currently, the term has not been properly incorporated into any of Indonesia’s climate-related documents.

    A clear and context-specific definition will allow Indonesia to pursue a transition that is both equitable and inclusive.

    To accomplish this, the government must engage a wide range of stakeholders in defining and planning the transition to all climate-related initiatives. This encompasses, but is not limited to, all sectors. The goal is to secure broad participation — not only from the public and private sectors, but also from local communities, vulnerable groups including women and Indigenous peoples, as well as other key actors.

    A more defined concept and well-structured plan will make it easier to implement, monitor, and evaluate the change. Simultaneously, this inclusive strategy should ensure a fair and equitable distribution of both benefits and burdens. All actors must be able to participate in decision-making and take action prior to and during the transition process.

    Indonesia must also have a robust monitoring and evaluation mechanism in place to support its climate actions. The country can learn from Scotland, which has developed a just transition framework with clear outcomes and measurable indicators while ensuring participation and continuous learning from all stakeholders.

    Drawing on insights from existing literature and reports will help Indonesia develop a framework that is well-suited to its unique context.

    Wira A. Swadana tidak bekerja, menjadi konsultan, memiliki saham, atau menerima dana dari perusahaan atau organisasi mana pun yang akan mengambil untung dari artikel ini, dan telah mengungkapkan bahwa ia tidak memiliki afiliasi selain yang telah disebut di atas.

    – ref. Lack of justice in Indonesia’s climate plan may backfire, harming people and environment – https://theconversation.com/lack-of-justice-in-indonesias-climate-plan-may-backfire-harming-people-and-environment-249246

    MIL OSI – Global Reports –

  • MIL-OSI: Exosens delivers very strong full-year 2024 results, overperforming on its IPO guidance; Sustained growth dynamic anticipated for 2025-2026

    Source: GlobeNewswire (MIL-OSI)

    EXOSENS DELIVERS VERY STRONG FULL-YEAR 2024 RESULTS, OVERPERFORMING ON ITS IPO GUIDANCE

    SUSTAINED GROWTH DYNAMIC ANTICIPATED FOR 2025-2026

    FY 2024 HIGHLIGHTS

    • Strong revenue growth of +35.0%, above IPO guidance, to €394.1m in 2024, reflecting dynamic like-for-like growth (+24.9%) and successful integration of bolt-on acquisitions
    • Significant increase in profitability, with adjusted EBITDA of €118.5m in 2024 (+37.8%), representing a best-in-class margin of 30.1% (vs. 29.5% in 2023), above IPO guidance and above top range of estimated landing given in January 2025
    • Net profit of €30.7m in 2024, recording a strong growth of +66.7% over 2023
    • Robust balance sheet with a net leverage of 1.2x at year-end 2024, enabling the execution of our growth strategy
    • Proposed payment of a €0.10 cash dividend per share for the 2024 fiscal year, for the first time since Exosens’ IPO

    OUTLOOK FOR 2025 AND THE 2024-2026 PERIOD: SUSTAINED GROWTH DYNAMIC DRIVEN BY DEFENSE TAILWINDS

    • Continued strong performance expected in 2025, with revenue growth in the high-teens and adjusted EBITDA growth in the low twenties
    • Global market demand is higher than initially expected, with NATO and Tier-1 allies continuing to ramp up their procurement of night vision systems further improving the perspectives, which implies a high-teens 2024-2026 adjusted EBITDA CAGR
    • In order to meet this demand Exosens decided to invest €20m to expand its production capacity not only in Europe but also in the US with, for the first time, a new production plant in the US, which will give us additional market opportunities

    Mérignac (France), 3 March 2025 – Exosens (EXENS; FR001400Q9V2), a high-tech company focused on providing mission and performance-critical amplification, detection and imaging technology, today publishes its results for the fiscal year ended 31 December 2024. At its 28 February 2025 meeting, Exosens’ Board of Directors approved the consolidated financial statements for 2024.

    “We are pleased to announce our first results as a publicly-listed company, with 2024 performance exceeding our IPO guidance. In a dynamic defense market, driven by rising geopolitical tensions and increasing defense budgets across NATO countries and Tier-1 allies, Exosens fully benefited from these structural trends and is well-positioned to continue doing so. 2024 was a pivotal year, we flawlessly executed our strategy, reinforcing our leadership in mission-critical technologies, surpassing expectations, and further enhancing our best-in-class margins, that set us apart from our peers.

    Amplification remains a key driver of our growth with higher-than-expected market demand, necessitating capacity expansion. As a result, we have decided to scale up capacity in Europe and enter the US market, anticipating sustained mid-term demand and emerging opportunities.

    We are also accelerating the growth of D&I segment, which achieved +7% like-for-like growth in 2024, driven by an improved product mix, market share gains, and successful acquisitions. These markets are benefiting from AI-driven advancements in industrial control, nuclear energy, and healthcare research.

    With a focus on sustainable growth, we remain committed to customer satisfaction, innovation, operational excellence, and disciplined acquisitions. Backed by a strong balance sheet and a dynamic market environment, we are well-positioned to accelerate expansion and create value for both customers and shareholders, including our first dividend payment.”, commented Jérôme Cerisier, CEO of Exosens.

    Key financial indicators

    In € millions FY 2023 FY 2024 Change (%) LFL1(%)
    Revenue 291.8 394.1 +35.0% +24.9%
             
    Adjusted gross margin 131.1 189.6 +44.7% –
    As a % of revenue 44.9% 48.1% +320bps –
             
    Adjusted EBITDA 86.0 118.5 +37.8% –
    As a % of revenue 29.5% 30.1% +60bps –
             
    Adjusted EBIT 66.1 95.3 +44.1% –
    As a % of revenue 22.7% 24.2% +150bps –
             
    Operating income 48.3 73.0 +51.2% –
    As a % of revenue 16.5% 18.5% +200bps –
             
    Net profit 18.4 30.7 +66.7% –
    Net profit ex. PPA amortization 27.8 41.5 +49.2% –
             
    Free cash flow 20.5 55.4 +170.0% –
    Cash conversion (%) 69.3% 74.1% +480bps –
             
    Net debt 302.3 144.1 (47.7)% –
    Leverage ratio (x) 3.3x 1.2x (2.1)x –
    1Like-for-like.

    Strong revenue performance in FY 2024 in a dynamic market environment, outperforming our IPO guidance

    In € millions FY 2023 FY 2024 Change (%) Like-for-like (%)
    Amplification 209.9 280.2 +33.5% +33.5%
    Detection & Imaging 82.5 117.5 +42.5% +6.8%
    Eliminations & Other (0.6) (3.7) n/a n/a
    Total revenue 291.8 394.1 +35.0% +24.9%

    Exosens posted a strong performance in FY 2024, outperforming its IPO guidance and continuing its strong growth trajectory, with consolidated revenue totaling €394.1 million, which represented a significant growth of +35.0% (or +€102.3 million) compared to FY 2023, of which+24.9% year-on-year on a like-for-like basis, mainly driven by a strong demand in Defense end-markets.

    Amplification revenue reached €280.2 million in FY 2024, reflecting a significant growth of +33.5% compared to FY 2023, driven by stronger sales volumes and increased share of higher-performance image intensifier tubes for Defense’s night vision applications.

    The global night vision market is benefiting from growing demand, driven by increasing defense budgets and the need for armies worldwide to enhance their night fighting capabilities, including the ongoing shift from monocular to binocular goggles. The return of high-density combat has underscored the critical importance of night operation abilities as a key tactical advantage. NATO and Tier-1 allies continued to ramp up their procurement of night vision systems in 2024, though they are still far from reaching the targeted equipment rate.

    Reflecting this increasing market demand, Exosens, worldwide leader, has benefited from its position as the strategic supplier of NATO and Tier-1 allies for night vision image intensifier tubes with a number of major business wins in markets such as Germany, the UK, Poland, Belgium, Finland, France or Australia, among others.

    On the M&A front, the Group announced agreement to acquire NVLS, a specialist in man-portable night vision and thermal devices, in October 2024, which will accelerate Exosens’ mid-term capability to develop next gen googles with innovative solutions combining night vision and thermal devices. Closing is expected to occur in the coming months, pending customary clearances and approvals.

    Detection & Imaging revenue totaled €117.5 million in FY 2024, representing an increase of +42.5% compared to FY 2023, mainly driven by a positive product mix and accelerated growth from 2023 bolt-on acquisitions (Telops, El-Mul, and Photonis Germany1).

    Like-for-like growth reached +6.8% in FY 2024, accelerating from the +6.0% recorded in 9M 2024. This strong performance was driven by market share gains following new product launches, as well as growing demand in our key high-growth end markets (Life Sciences, Nuclear and Defense). These factors more than offset the softness in Industrial Control markets (China, machine vision).

    Throughout the year, Exosens continued to execute on its disciplined bolt-on strategy with two synergistic acquisitions: Centronic (radiation detection solutions), in July, reinforcing our position as the key European leader in nuclear instrumentation, and LR Tech (FTIR spectrometry) in September, complementing Telops’ products to strengthen our position in high-end spectroscopy instruments. Additionally, in November, Exosens announced the acquisition of Noxant, a specialist in high-performance cooled infrared cameras, set to close in Q1 2025.

    Significant improvement in adjusted gross margin in FY 2024

      FY 2023 FY 2024 Change
      In €m % of sales In €m % of sales In %
    Amplification 93.3 44.4% 132.4 47.3% +42.0%
    Detection & Imaging 37.7 45.7% 57.1 48.6% +51.6%
    Eliminations & Other 0.1 n/a 0.1 n/a n/a
    Adjusted gross margin 131.1 44.9% 189.6 48.1% +44.7%

    Exosens posted a strong increase in adjusted gross margin at Group level and across both segments in FY 2024, mainly due to higher sales volumes, improved yields and a favorable product mix. The Group’s adjusted gross margin stood at €189.6 million in FY 2024, reflecting a growth of +44.7% compared to FY 2023. Adjusted gross margin rate reached 48.1% in FY 2024, marking a significant improvement of 320 basis points year-on-year.

    Adjusted gross margin of the Amplification segment totaled €132.4 million in FY 2024 (+42.0% vs. FY 2023), representing a margin of 47.3% (vs. 44.4% in FY 2023). This strong increase in margin rate mainly reflected higher sales volumes, improved yields and a favorable product mix.

    Adjusted gross margin of the Detection & Imaging segment amounted to €57.1 million in FY 2024 (+51.6% vs. FY 2023), representing a margin of 48.6% (vs. 45.7% in FY 2023). This improved margin rate was mainly driven by a positive product mix, improved yields and supply-chain cost synergies.

    Continued strong operational execution driving further profitability increase in FY 2024

    Exosens reported a further increase of its profitability at Group level in FY 2024, reinforcing best-in-class margin, driven by strong business momentum and continued operational excellence.

    Adjusted EBITDA amounted to €118.5 million in FY 2024, representing a sharp growth of +37.8% (or +€32.5 million) compared to €86.0 million in FY 2023. As a result, adjusted EBITDA margin improved by 60 basis points to reach 30.1% in FY 2024 (vs. 29.5% in FY 2023).

    Adjusted EBIT totaled €95.3 million in FY 2024, posting a strong growth of +44.1% (or +€29.2 million) compared to €66.1 million in FY 2023. As a result, adjusted EBIT margin increased by 150 basis points to reach 24.2% in FY 2024 (vs. 22.7% in FY 2023).

    The Group’s recorded an operating income of €73.0 million in FY 2024, representing a significant increase of +51.2% (or €24.7 million) compared to €48.3 million in FY 2023. As a percentage of sales, operating margin improved by 200 basis points to reach 18.5% (vs. 16.5% in FY 2023).

    Significant growth in net income, up +67% in FY 2024

    Exosens recorded a significant increase in net profit, reaching €30.7 million in FY 2024, up by +66.7% (or €12.3 million) compared to FY 2023. Adjusted for PPA amortization, net profit was €41.5 million in FY 2024, representing a growth of +49.2% (or €13.6 million) compared to FY 2023.

    Strong increase in free cash flow, up +€35 million in FY 2024

    Exosens recorded a significant increase in free cash flow to €55.4 million in FY 2024 (vs. €20.5 million in FY 2023). This strong increase was achieved despite one-off expenses related to IPO consulting fees. In addition, the Group achieved a higher cash conversion rate of 74.1% in FY 2024 compared to 69.3% in FY 2023, with increased investment towards the end of the year to support future growth.

    Sustained R&D efforts in FY 2024 to support long-term growth and market leadership

    R&D expenses grew by +35.0% to €30.4 million (7.7% of sales) in FY 2024 compared to €22.5 million (7.7% of sales) in FY 2023. Continued efforts in R&D like the development of 5G image intensifier tubes for Defense’s night vision applications, or next gen detectors for Life Sciences and Nuclear will sustain the group’s future growth and maintain its leading positions.

    Completion of the first phase of capacity expansion

    Capital expenditure reached €27.9 million in FY 2024 compared to €23.7 million in FY 2023, marking a reduction in capex to sales ratio to 7.1% (vs. 8.1% in FY 2023) following the completion of capacity expansion resulting from investments started in 2022-2023.

    Strengthened capital structure, fully supporting our growth strategy

    Following Exosens’ successful IPO in June 2024, which included a capital increase of €180 million and a full debt refinancing (securing two new credit facilities of a total amount of €350 million), the Group has significantly deleveraged, with its net debt more than halving to €144.1 million as at 31 December 2024 compared to €302.3 million as at 31 December 2023. Accordingly, the leverage ratio decreased significantly to 1.2x as at 31 December 2024, as compared to a ratio of 3.3x as at 31 December 2023, providing the Group with ample capacity to pursue its investments in growth.

    Dividend

    The Company’s Board of Directors decided, during its meeting on 28 February 2025, to propose the payment of a €0.10 cash dividend per share for the 2024 fiscal year. This amount will be subject to the approval of the Annual General Shareholders’ Meeting, which will take place on 23 May 2025.

    Outlook for 2025 and the 2024-2026 period: Sustained growth dynamic driven by defense tailwinds

    Exosens expects a continued strong performance in 2025, with revenue growth in the high-teens and adjusted EBITDA growth in the low twenties compared to 2024.

    The Group expects a high-teens 2024-2026 adjusted EBITDA CAGR and a cash conversion2ratio in the range of 70%-75% over the period, taking into account capacity investment in Europe and in the US.

    Furthermore, the Group intends to pursue its growth strategy, at a pace consistent with historical trend, while maintaining a leverage ratio3of around 2x.

    Webcast

    Jérôme Cerisier, CEO and Quynh-Boi Demey, CFO will hold a conference call and webcast to discuss Exosens’ full-year 2024 results on Monday, 3 March 2025 at 9:00am CET. This presentation will be followed by a Q&A session and can be accessed via the following link:
    https://channel.royalcast.com/landingpage/exosens-en/20250303_1/

    The press release and the presentation will be available in the Investor Relations section on Exosens’ website at https://www.exosens.com/investors.

    Audit procedures in respect of the consolidated financial statements are complete and the corresponding audit report of the auditors is in the process of being delivered.

    Financial Calendar

    • 28/04/2025: Q1 2025 revenue & adj. gross margin (publication before market opening);
    • 29/04/2025: Publication of 2024 Universal Registration Document;
    • 23/05/2025: Annual general meeting;
    • 31/07/2025: H1 2025 results (publication before market opening);
    • 27/10/2025: Q3 2025 revenue & adj. gross margin (publication before market opening).

    About Exosens

    Exosens is a high‐tech company, with more than 85 years of experience in the innovation, development, manufacturing and sale of high‐end electro‐optical technologies in the field of amplification, detection and imaging. Today, it offers its customers detection components and solutions such as travelling wave tubes, advanced cameras, neutron & gamma detectors, instrument detectors and light intensifier tubes. This allows Exosens to respond to complex issues in extremely demanding environments by offering tailor‐made solutions to its customers. Thanks to its sustained investments, Exosens is internationally recognized as a major innovator in optoelectronics, with production and R&D carried out on 12 sites, in Europe and North America and with over 1,700 employees. Exosens is listed on compartment A of the regulated market of Euronext Paris ﴾Ticker: EXENS – ISIN: FR001400Q9V2﴿. Exosens is a member of Euronext Tech Leaders segment and is also included in several indices, including CAC All-Tradable, CAC Mid & Small, FTSE Total Cap and MSCI France Small Cap. For more information: www.exosens.com.

    Investor Relations

    Laurent Sfaxi, l.sfaxi@exosens.com

    Media Relations

    Brunswick Group, exosens@brunswickgroup.com
    Laetitia Quignon, + 33 6 83 17 89 13
    Nicolas Buffenoir, + 33 6 31 89 36 78

    APPENDICES

    Reconciliation of adjusted EBITDA and adjusted EBIT

    In € millions FY 2023 FY 2024
    Operating profit 48.3 73.0
    Depreciation, amortization and impairment – net 29.2 34.1
    Other income and expenses 4.6 3.9
    EBITDA 82.0 111.0
    Share-based payments 1.6 2.9
    One-off costs 2.4 4.5
    Adjusted EBITDA 86.0 118.5
    Depreciation, amortization and impairment ex. PPA amortization (19.9) (23.3)
    Adjusted EBIT 66.1 95.3

    Reconciliation of free cash flow and cash conversion

    In € millions FY 2023 FY 2024
    Adjusted EBITDA 86.0 118.5
    Capitalized research and development costs (8.6) (11.0)
    Adjusted EBITDA after capitalized R&D costs 77.4 107.5
    Change in working capital4 (21.4) (10.7)
    Tax paid (6.9) (6.7)
    Maintenance capital expenditure4 (6.4) (12.5)
    Others (4.9) (7.0)
    Free cash flow before growth 37.8 70.7
    Growth capital expenditure4 (17.3) (15.3)
    Free cash flow after growth 20.5 55.4
         
    Adjusted EBITDA after capitalized R&D costs and capital expenditure (A) 53.7 79.6
    Adjusted EBITDA after capitalized R&D costs (B) 77.4 107.5
    Cash conversion (%) (A) / (B) 69.3% 74.1%

    Consolidated statement of income

    In € millions FY 2023 FY 2024
    Revenue 291.8 394.1
    Cost of sales (76.0) (103.0)
    Other purchases and external expenses (54.1) (65.5)
    Taxes and duties other than income tax (1.6) (1.6)
    Employee benefits expenses (81.3) (110.8)
    Other operating income / (expenses) 4.4 2.0
    Depreciation, amortization and additions to provisions (30.4) (38.2)
    o/w PPA amortization (9.5) (10.8)
    Current operating profit / (loss) 52.8 76.9
    Current operating profit / (loss) ex. PPA amortization 62.3 87.8
    Other income / (expenses) (4.5) (3.9)
    Operating profit / (loss) 48.3 73.0
    Operating profit / (loss) ex. PPA amortization 57.7 83.8
    Net financial result (28.0) (31.2)
    Profit / (loss) before tax 20.2 41.8
    Profit / (loss) before tax ex. PPA amortization 29.7 52.6
    Income tax (1.8) (11.1)
    Net profit / (loss) 18.4 30.7
    Net profit / (loss) ex. PPA amortization 27.8 41.5

    Consolidated statement of cash flows

    In € millions FY 2023 FY 2024
    Net profit / (loss) 18.4 30.7
    Net financial results 28.0 31.2
    Income tax 1.8 11.1
    Charges net of reversals to depreciation and amortization 30.9 36.9
    Other income / (expenses) (0.2) 2.5
    Income tax received / (paid) (6.9) (6.7)
    Change in net working capital (21.7) (9.5)
    Net cash flow from / (used in) operating activities 50.5 96.2
    Net investments in assets (31.4) (41.3)
    Net acquisition of equity investments (69.3) (31.4)
    Investment grant received and other flows 1.1 (0.0)
    Net cash flow from / (used in) investment activities (99.6) (72.7)
    Capital increases / (decreases) 0.0 180.0
    Acquisitions and disposals of treasury shares 0.0 (0.3)
    Change in financial liabilities and IFRS 16 leases 57.6 (65.1)
    Interest payments (including IFRS 16 leases) (24.4) (24.2)
    Other 2.3 (14.1)
    Net cash flow from / (used in) financing activities 35.5 76.3
    Effect of changes in exchange rates 0.2 0.4
    Increase / (decrease) in cash and cash equivalents (13.5) 100.2
    Cash and cash equivalents at the beginning of the period 29.0 15.5
    Cash and cash equivalents at the end of the period 15.5 115.6

    Consolidated balance sheet – Assets

    In € millions 31-Dec-2023 31-Dec-2024
    Goodwill 174.3 189.5
    Intangible assets 202.4 204.9
    Tangible assets 72.1 93.6
    Right-of-use of leases 10.8 10.6
    Investment in associates 3.4 3.4
    Financial assets and other long-term investments 0.7 0.9
    Deferred tax assets 0.0 (0.0)
    Non-current assets 463.7 502.8
    Inventory 78.5 93.0
    Accounts receivable 69.2 71.0
    Derivative financial instruments 0.2 0.0
    Financial assets and other short-term investments 29.4 33.0
    Cash and cash equivalents5 15.5 117.2
    Current assets 192.7 314.2
         
    Total assets 656.4 817.0

    Consolidated balance sheet – Equity and liabilities

    In € millions 31-Dec-2023 31-Dec-2024
    Share capital 1.9 21.6
    Additional paid-in capital 188.1 342.5
    Reserves 14.1 48.5
    Total equity 204.1 412.6
    Long-term financial debt 300.8 247.8
    Long-term lease liabilities 7.7 8.2
    Pension liabilities 7.6 7.5
    Provisions and other long-term liabilities 8.6 13.4
    Deferred tax liabilities 17.6 20.6
    Non-current liabilities 342.3 297.4
    Short-term financial debt 7.0 2.5
    Short-term lease liabilities 2.4 2.7
    Derivative financial instruments – 0.1
    Accounts payable 32.3 26.0
    Provisions and other short-term liabilities 68.4 75.6
    Current liabilities 110.1 107.0
         
    Total equity and liabilities 656.4 817.0

    Definitions

    Like-for-like growth is the revenue growth achieved by the Group excluding currency impact and scope effect, which corresponds to revenue recorded during period “n” by all the companies included in the Group’s scope of consolidation at the end of period “n-1” (excluding any contribution from the companies acquired after the end of period “n-1”), compared with revenue achieved during period “n-1” by the same companies. Like-for-like growth for the fiscal year ended 31 December 2024 therefore excludes the contribution of Telops, El-Mul and Photonis Germany (formerly ProxiVision), acquired by the Group in October 2023, July 2023 and June 2023, respectively, as well as Centronic and LR Tech, acquired by the Group in July 2024 and September 2024, respectively.

    Adjusted gross margin is equal to the difference between the selling price and the cost price of products and services (including notably employee benefits).

    Adjusted EBITDA is defined as operating profit, less (i) additions net of reversals to depreciation, amortization and impairment of non-current assets; (ii) non-recurring income and expenses as presented in the Group’s consolidated income statement within “Other income” and “Other expenses”, and (iii) the impact of items that do not reflect ordinary operating performance (in particular business reorganization and adaption costs, costs relating to acquisition and external growth transactions, as well as the IFRS 2 share-based payment expense).

    Adjusted EBIT is defined as operating profit, less (i) non-recurring income and expenses as presented in the Group’s consolidated income statement within “Other income” and “Other expenses”, and (ii) the impact of items that do not reflect ordinary operating performance (in particular business reorganization and adaption costs, costs relating to acquisition and external growth transactions, as well as the IFRS 2 share-based payment expense). Depreciation, amortization and reversal of impairment losses on non-current assets, included in adjusted EBIT, exclude the amortization of the part of non-current assets corresponding to purchase price allocation.

    Cash conversion is calculated as follows: (adjusted EBITDA – capitalized research and development costs – capital expenditure) / adjusted EBITDA – capitalized research and development costs).

    Leverage ratio is calculated as net debt / adjusted EBITDA as defined in the Group’s New Senior Credit Facilities Agreement entered into as part of the refinancing executed in the frame of the IPO.

    Forward-looking statements

    Certain information included in this press release are not historical facts but are forward-looking statements. These forward-looking statements are based on current beliefs, expectations and assumptions, including, without limitation, assumptions regarding present and future business strategies and the environment in which Exosens operates, and involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to be materially different from the forward-looking statements included in this press release. These risks and uncertainties include those set out and detailed in Chapter 3 “Risk Factors” of the registration document approved on 22 May 2024 by the French financial markets’ authority (“Autorité des marchés financiers”) under number I. 24-010. Forward-looking statements speak only as of the date of this press release and the Group expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements included in this press release to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based. Forward-looking information and statements are not guarantees of future performances and are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Group. Actual results could differ materially from those expressed in, or implied or projected by, forward-looking information and statements. This press release is provided for information purposes only. It does not constitute and should not be deemed to constitute an offer to the public of securities.

    1 Formerly ProxiVision.
    2 Cash conversion is defined as (adjusted EBITDA – capitalized R&D – capex) / (adjusted EBITDA – capitalized R&D).
    3 Leverage ratio is defined as net financial debt / adjusted EBITDA.
    4 Capital expenditures not paid at year-end 2024 were reclassified in working capital.
    5 As at 31 December 2024, cash and cash equivalents balance sheet position amounts to €117.2 million. Adjusted for bank overdrafts for €0.3 million and interests to be received for €1.2 million, cash and cash equivalents amount to €115.6 million as reported in the cash flow statement.

    Attachment

    The MIL Network –

  • MIL-OSI China: China’s populations of wild species grow steadily

    Source: China State Council Information Office 2

    China has seen a significant increase in the populations of its flagship species over the past few decades, the National Forestry and Grassland Administration said Monday.
    The number of wild giant pandas has risen from around 1,100 in the 1980s to nearly 1,900 today, while the snow leopard population has rebounded to over 1,200. The population of wild Asian elephants has grown from over 150 to more than 300.
    Additionally, the number of Tibetan antelopes has increased from around 60,000-70,000 in the late 1990s to over 300,000 today.
    In the realm of wild plants, more than 200 endangered species have been successfully reintroduced, and many species have experienced significant recovery and protection.
    The steady increase in wild populations is mainly due to China’s comprehensive conservation efforts in recent years. According to the administration, these efforts include continuously refining policies and legal frameworks and increasing financial investment.
    The administration said that moving forward, China will continue to strengthen the conservation of wildlife and plants and promote modernization that ensures the harmonious coexistence of humans and nature.
    Monday marks the United Nations World Wildlife Day in 2025.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: English rendering of PM’s address in NXT Conclave

    Source: Government of India

    Posted On: 01 MAR 2025 2:03PM by PIB Delhi

    Namaskar, 

    ITV Network founder and my colleague in Parliament, Kartikeya Sharma ji, the entire team of the network, all the guests from India and abroad, other dignitaries, ladies and gentlemen, NewsX World’s auspicious beginning and for this I congratulate all of you, my best wishes. Today, all the regional channels of your network including Hindi and English are going global. And today many fellowships and scholarships have also been started. I wish all of you the best for these programs.

    Friends, 

    I have been attending such media events earlier also, but today I feel that you have set a new trend and I congratulate you for this too. Such media events keep happening in our country, and it is a tradition that is continuing. There are some economic topics in it, it is a matter of benefit for everyone, but your network has given it a new dimension. You have worked on a new model by breaking away from the norm. I remember, if I talk about the earlier summits and your summit I have been listening to since yesterday, the earlier summits organised by different media houses have been leader-centric, I am happy that this one is policy-centric, policies are being discussed here. Most of the events that have taken place have been about living the present on the basis of the past. I see that your summit is dedicated to the future. I have seen that in all such programs that I have seen from afar or have attended myself, the importance of controversy was more there, here the importance of dialogue is more. And I firmly believe that all the events that I have attended are held in a small room and have their own people. Seeing such a huge event here and that too the event of a media house and people from all walks of life being here, is a big thing in itself. It is possible that other media people will not get any masala (scoop) from here, but the country will get a lot of inspiration, because the thoughts of every person who comes here will be thoughts that inspire the country. I hope that in the coming days other media houses will also adopt this trend, this template, in their own way and make it innovative and at least come out of that small room.

    Friends, 

    Today the whole world is looking at 21st century India, people from all over the world want to come to India, want to know India. Today India is the country in the world where positive news is being created continuously. There is no need to manufacture news, where new records are being made every day, something new is happening. Just on 26 February, the Maha Kumbh of unity was concluded in Prayagraj. The whole world is surprised that how in a temporary city, a temporary arrangement, crores of people came to the banks of the river, travelled hundreds of kilometers and got filled with emotions after taking a holy bath. Today the world is seeing India’s organising and innovating skills. We are manufacturing everything from semiconductors to aircraft carriers right here. The world wants to know about this success of India in detail. I think that this NewsX World is a very big opportunity in itself.

    Friends, 

    Just a few months ago, India conducted the world’s largest elections. After 60 years, it happened that a government in India has returned to power for the third consecutive time. The basis of this public trust are India’s many achievements in the last 11 years. I am confident that your new channel will take India’s real stories to the world. Without adding any colour, your global channel will show the picture of India as it is, we do not need makeup.

    Friends, 

    Many years ago, I had presented the vision of Vocal for Local and Local for Global to the country. Today we are seeing this vision turning into reality. Today our Ayush products and Yoga have gone from Local to Global. Go anywhere in the world, you will find someone who knows Yoga, my friend Tony is sitting here, he is a daily Yoga practitioner.  Today, India’s superfood, our Makhana, is going global from local. India’s millets – Shreeanna, are also going global from local. And I have come to know that my friend, Tony Abbott, has had first-hand experience of Indian millets at Delhi Haat, and he liked the millet dishes very much and I felt very happy to hear this.

    Friends, 

    Not only millets, India’s turmeric has also gone from local to global, India supplies more than 60 percent of the world’s turmeric. India’s coffee has also gone from local to global, India has become the world’s seventh largest coffee exporter. Today India’s mobiles, electronic products, medicines made in India are making their global identity. And along with all this, one more thing has happened. India is leading many global initiatives. Recently I got a chance to go to the AI ​​Action Summit in France. India was the co-host of this summit which is taking the world towards the AI ​​future. Now India has the responsibility of hosting it. India organised such a wonderful G-20 Summit during its presidency. During this summit, we gave the world a new economic route in the form of India-Middle East-Europe Corridor. India also gave a strong voice to the Global South, we have connected the island nations and their interests to our priority. India has given the vision of Mission Life to the world to deal with the climate crisis. Similarly, International Solar Alliance, Coalition for Disaster Resilient Infrastructure, there are many such initiatives which India is leading globally. And I am happy that today when many brands of India are going global, the media of India is also going global. It is understanding this global opportunity.

    Friends, 

    For decades, the world used to call India its back office. But today, India is becoming the new factory of the world. We are not just becoming a workforce, but a world-force! Today, the country is becoming an emerging export hub for the things that we once imported. The farmer who was once limited to the local market, today his crop is reaching the markets of the whole world. The demand for Pulwama’s Snow Peas, Maharashtra’s Purandar Figs and Kashmir’s Cricket Bats is now increasing in the world. Our Defence products are showing the world the power of Indian Engineering and technology. From the Electronics to Automobile Sector, the world has seen our scale and capability. We are not only providing our products to the world, India is also becoming a trusted and reliable partner in the global supply chain.

    Friends, 

    If we have become a leader in many sectors today, then it is because of years of well deliberated hard work. This has been possible only due to systematic policy decisions. Look at the journey of 10 years, where bridges were incomplete, roads were stuck, today dreams are moving ahead at a new pace. With good roads, excellent expressways, both travel time and cost have reduced. This has given the industry an opportunity to reduce the turnaround time of logistics. Our automobile sector got a huge benefit from this. This increased the demand for vehicles, we encouraged the production of vehicles and EVs. Today we have emerged as a major automobile producer and exporter in the world.

    Friends, 

    A similar change has been seen in electronics manufacturing. In the last decade, electricity reached more than 2.5 crore households for the first time. The demand for electricity increased in the country, production increased, which increased the demand for Electronic Equipment. When we made data cheaper, the demand for mobile phones increased. As more and more services were brought on mobile phones, the consumption of digital devices increased further. By turning this demand into an opportunity, we started programs like PLI Schemes. Today, India has become a major electronics exporter.

    Friends, 

    Today India is able to set very big targets and is achieving them, so there is a special mantra at the core of this. This mantra is – minimum government, maximum governance. This is the mantra of efficient and effective governance. That means no interference from the government, no pressure from the government. I will give you an interesting example. In the last decade, we have abolished about 1500 laws that have lost their importance. It is a big deal to abolish 1500 laws. Many of these laws were made during British rule. Now I will tell you something, you will be surprised to hear that there was a law called dramatic performance act, this law was made by the British 150 years ago, at that time the British wanted that drama and theatre should not be used against the then government. There was a provision in this law that if 10 people were found dancing in a public place, they could be arrested. And this law continued for 75 years after the country got independence. That is, if there is a wedding procession and 10 people are dancing, the police can arrest them including the groom. This law was in force for 70-75 years after independence. This law was removed by our government. Now, we have borne this law for 70 years, I have nothing to say to the government of that time, those leaders, they are sitting here too, but I am more surprised by this Lutyens’ group, this Khan Market gang. Why were these people silent on such a law for 75 years? Those who go to court every day, who roam around like contractors of PIL, why were these people silent? Did they not remember liberty then? If someone thinks today, what would have happened if Modi had made such a law? And these trollers on social media, if they too had spread such false news that Modi was going to make such a law, these people would have created a ruckus, would have pulled Modi’s hair.

    Friends, 

    It is our government that has abolished this law from the times of slavery. I will give another example of bamboo, bamboo is the lifeline of our tribal areas, especially the North East. But earlier, you were sent to jail even for cutting bamboo, why was the law made now? Now, if I ask you, is bamboo a tree? Some will believe that it is a tree, some will believe that it is a tree, you will be surprised that even after 70 years of independence, the government of my country believed that bamboo is a tree, and therefore, just as cutting trees was prohibited, cutting bamboo was also prohibited. There was a law in our country which considered bamboo to be a tree, and all the laws for trees were applicable to it, it was difficult to cut it. Our earlier rulers could not understand that bamboo is not a tree. The British may have had their own interests, but why did we not do it? Even the decades old law related to bamboo was changed by our own government.

    Friends, 

    You must remember how difficult it was for a common man to file ITR 10 years ago. Today you file ITR in a few moments and the refund is also deposited directly in the account within a few days. Now the process of making the law related to income tax even simpler is going on in the Parliament. We have made income up to Rs. 12 lakh tax free, yes now there is applause, you did not applaud the bamboo because it belongs to the tribals. And this is going to benefit especially the media personnel, the salaried class like you. The youth who are doing their first and second jobs, their aspirations are also different, their expenses are also different. They should fulfil their aspirations, their savings should increase, the budget has helped a lot in this. Our aim is to give the people of the country Ease of Living, Ease of Doing Business, give them open skies to fly. Today see how many start-ups are taking advantage of geospatial data. Earlier, if someone had to make a map, they had to take permission from the government. We changed this and today our start-ups and private companies are making excellent use of this data.

    Friends,

    India, which gave the world the concept of Zero, is today becoming the land of Infinite Innovations. Today India is not just innovating but also indovating. And when I say indovate, it means – Innovating The Indian Way. Through indovating, we are creating solutions that are affordable, accessible and adaptable. We are not gate-keeping these solutions but have offered them to the entire world. When the world wanted a secure and cost-effective digital payment system, we created the UPI system. I was listening to Professor Carlos Montes, he seemed very impressed with the people-friendly nature of technology like UPI. Today, countries like France, UAE, Singapore are integrating UPI in their financial ecosystem. Today, many countries of the world are making agreements to join our digital public infrastructure, India Stack. During the Covid pandemic, our vaccine showed the world the model of India’s Quality Healthcare Solutions. We also open-sourced the Arogya Setu app so that the world can benefit from it. India is a major space power; we are also helping other countries to achieve their space aspirations. India is also working on AI for Public Good and is also sharing its experience and expertise with the world.

    Friends,

    ITV Network has launched many fellowships today. India’s youth is the biggest beneficiary of developed India and also the biggest stakeholder. Therefore, India’s youth is a very big priority for us. National Education Policy has given children an opportunity to think beyond books. Children are getting ready for the field of AI and Data Science by learning coding from middle school itself. Atal Tinkering Labs are giving children hands-on experience of emerging technologies. Therefore, in this year’s budget, we have announced to create 50 thousand new Atal Tinkering Labs.

    Friends,

    In the world of news, you people take subscriptions from different agencies, this helps you in getting better news coverage. Similarly, in the field of research, students need more and more information sources. For this, earlier they had to take subscriptions of different journals at expensive rates, they had to spend money themselves. Our government has freed all researchers from this worry too. We have brought One Nation One Subscription. With this, every researcher of the country is sure to get free access to the world’s renowned journals. The government is going to spend more than 6 thousand crore rupees on this. We are ensuring that every student gets the best research facilities. Be it space exploration, biotech research or AI, our children are emerging as future leaders. Dr. Brian Green has met the students of IIT and astronaut Mike Massimino went to meet the students of Central School and as he said, his experience has been really wonderful. The day is not far when a big innovation of the future will come out of a small school in India.

    Friends,

    Let the flag of India fly on every global platform, this is our aspiration, this is our direction.

    Friends,

    This is not the time to think small and take small steps. I am happy that as a media organisation, you too have understood this sentiment. You see, till 10 years ago you used to think about how to reach different states of the country, how to make your media house reach, today you too have gathered the courage to go global. This inspiration, this pledge, should be the one of every citizen, every entrepreneur today. My dream is that there should be some Indian brand in every market of the world, in every drawing room, on every dining table. Made in India – should become the mantra of the world. If someone is ill, he should first think about – Heal in India. If someone wants to get married, he should first think about – Wed in India. If someone wants to travel, he should put India on top of his list. If someone wants to hold a conference or an exhibition, he should come to India first. If someone wants to hold a concert, he should first choose India. We have to develop this strength, this positive attitude in ourselves. Your network and your channel will play a big role in this. The possibilities are infinite, now we have to turn them into reality with our courage and determination.

    Friends,

    India is moving ahead with the resolve to become a developed India in the next 25 years. You too should move ahead with the resolve to bring yourself on the world stage as a media house. I believe that you will definitely succeed in this. I once again convey my best wishes to the entire team of ITV Network and I also congratulate the participants who have come from the country and the world, their views have definitely strengthened a positive thinking, I am thankful for this too, because when the pride of India increases, every Indian feels happy and proud and for this I thank them all very much. Namaskaram.

     

    DISCLAIMER: This is the approximate translation of PM’s speech. Original speech was delivered

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Shri Jayant Chaudhary launches Swavalambini, a Women Entrepreneurship Programme

    Source: Government of India (2)

    Shri Jayant Chaudhary launches Swavalambini, a Women Entrepreneurship Programme

    Programme simultaneously launched at Chaudhary Charan Singh University, Meerut and other Higher Education Institutes across India

    MSDE and NITI Aayog join hands in this transformational initiative to promote and nurture entrepreneurial aspirations among women

    Posted On: 01 MAR 2025 6:09PM by PIB Delhi

    Ministry of Skill Development and Entrepreneurship (MSDE), in collaboration with NITI Aayog, launched Swavalambini— a Women Entrepreneurship Programme at Chaudhary Charan Singh University, Meerut, taking a significant step towards strengthening women entrepreneurship in India. This initiative empowers female students in Higher Education Institutions (HEIs) by providing them with the necessary entrepreneurial mindset, resources, and mentorship to successfully build and scale their ventures.

    Minister of State (I/C) for Skill Development and Entrepreneurship (MSDE) and MoS for Education Shri Jayant Chaudhary during his address, said “The Swavalambini Women Entrepreneurship Programme is an initiative aimed at empowering young women with the skills and confidence needed to establish their own businesses. We want to move beyond programmes that enlist women as beneficiaries of the schemes, we want to move to women-led development initiatives and this is our Prime Minister Shri Narendra Modi’s conceptualisation as well. Women’s participation is crucial for India’s progress. Imagine the limitless possibilities if we break barriers and provide women with the right resources, training, and financial support, we can unlock their true potential. Women’s empowerment is not just an economic necessity but a social transformation. When a woman is empowered, she uplifts her family, her community, and the entire nation.”

    Shri Jayant Chaudhary also added, “The Government of India has consistently focused on providing equal opportunities to youth of India through the National Education Policy which has given them the vision to learn and excel in their careers. We look forward to introducing a curriculum with AI related courses in schools and colleges, to create awareness and upskill the youth of our country”

    Under the aegis of MSDE and implemented by the National Institute for Entrepreneurship and Small Business Development (NIESBUD) and in joint partnership with NITI Ayog, Swavalambini aims to establish a structured and stage-wise entrepreneurial journey for young women. The programme will take participants through various stages, including awareness-building, skill development, mentorship, and funding support. By promoting and recognising promising women-led ventures, the initiative seeks to set a benchmark for the future of women entrepreneurship in India.

    Following its successful introduction across several HEIs in the Eastern region, including IIT Bhubaneswar and Utkal University in Odisha; North-Eastern Hill University (NEHU), Shillong; Kiang Nangbah Government College, Jowai and Ri Bhoi College in Meghalaya; Mizoram University; Government Champhai College, Champhai and Lunglei Government College in Mizoram; Handique Girls’ College, Guwahati; Dispur College and Gauhati University in Assam, among others, Swavalambini is now being expanded to other regions of the country.

    The event also marked the virtual launch of Swavalambini in Banaras Hindu University (BHU), University of Hyderabad, and Maulana Azad National Urdu University, thereby extending the reach of this initiative across different regions of the country.

    The programme introduces a structured, multi-stage training approach to help young women transition from ideation to successful enterprise creation. It begins with an Entrepreneurship Awareness Programme (EAP), a two-day workshop designed to introduce around 600 female students to fundamental entrepreneurial concepts, market opportunities, and essential business skills. This is followed by the Women Entrepreneurship Development Programme (EDP), a 40-hour training initiative for 300 selected students. The EDP covers critical aspects of business development, finance access, market linkages, compliance, and legal support. Additionally, a six-month mentorship and handholding support system has been incorporated to help participants transform their ideas into sustainable business ventures.

    To ensure long-term impact, the programme also includes a Faculty Development Programme (FDP), where faculty members from participating HEIs undergo a five-day training session. This initiative equips educators with the necessary skills to mentor and guide aspiring women entrepreneurs within their institutions. Furthermore, Swavalambini will recognise and reward successful women entrepreneurs emerging from the programme through the Award to Rewards Initiative, inspiring future participants. The programme will leverage workshops, seed funding, and structured mentoring to support the growth of women-led enterprises.

    By advocating an ecosystem that nurtures women entrepreneurs, Swavalambini is poised to create a significant impact in North India and beyond. The initiative aspires to see at least 10% of the EDP-trained participants establish successful enterprises, contributing to the larger vision of a self-reliant, women-led entrepreneurial landscape in India. With the launch in Meerut, Varanasi and Telangana and the successful implementation in the East, the programme continues to empower women as business leaders, innovators, and change makers. Through structured training, mentorship, and policy support, Swavalambini is set to redefine the future of women entrepreneurship in the country.

    TWO MOU SIGNING

    Marking the occasion, the National Institute for Entrepreneurship and Small Business Development (NIESBUD) has signed two MoUs with the Skills Development Network (SDN), an Indian Trust registered under the Foreign Contribution (Regulations) Act, 2010 and implementing partner of Wadhwani Foundation in India; and with Chaudhary Charan Singh University, Meerut, to enhance entrepreneurial skills, develop curricula, and promote self-employment through training, workshops, and incubation support, thereby strengthening entrepreneurship education and ecosystem development for economic growth.

    WEF2025 REPORT LAUNCH

    Shri Jayant Chaudhary, also launched a report on his participation at the World Economic Forum 2025—”LEADING WITH VISION FOR SKILLS AND INNOVATION.” The booklet highlights India’s transformative advancements in skill development and innovation, reinforcing the nation’s commitment to equipping its workforce with future-ready capabilities. The report outlines key insights shared across roundtables and panel discussions held at WEF2025 on emerging job trends, industry collaborations, and India’s role in shaping the global skilling agenda.

    Dr. Laxmikant Bajpai, MP, Rajya Sabha; Dr. Raj Kumar Sangwan, MP, Lok Sabha, Baghpat; Shri. Chandan Chauhan, MP, Lok Sabha, Bijnor; Shri. Dharmendra Bharadwaj, MLC, Uttar Pradesh; Shri. Haji Ghulam Muhammad, MLA Siwalkhas, Meerut; Shri. Atul Pradhan, MLA, Sardhana, Meerut; Shri. Gaurav Chaudhary, Jila Panchayat Adhyaksh, Meerut; Shri. Amit Agarwal, MLA, Meerut Contonment, Meerut and partner institutions, graced the occasion.

    Joint Secretary, Ministry of Skill Development and Entrepreneurshuip, Shri Shreeshail Malge, Smt Sangeeta Shukla,Vice Chancellor, Chaudhary Charan Singh University, Meerut and other officials of the MSDE were also present on the occasion.

    ******

    Pawan Singh Faujdar/Divyanshu Kumar

    (Release ID: 2107337) Visitor Counter : 46

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Text of the Vice-President’s address at the Colloquium on ‘International Arbitration: Indian Perspective’ organised by India International Arbitration Centre (Excerpts)

    Source: Government of India

    Posted On: 01 MAR 2025 2:41PM by PIB Delhi

    Good Morning all of you,

    When Chairman, International Arbitration Centre of India extended invitation to me, I had a very frank, forthright thought exchange with him.

     I indicated to Justice Gupta that he has a daunting task to impart much needed credibility to the Indian arbitral system. I was so happy and delighted when he reflected that some step has to be taken. I still recall what he told me. Realistic assessment of a malice and authentic diagnosis is fundamental and quintessence to find a resolution. My response was not encouraging.

     Justice Gupta was insistent. I reacted. Justice Gupta, when UNCITRAL Model came in 1994, UK and India were two countries that had historical connect and had legislation in the same year-1996, but look at the kind of jolts our Act has had ever since then. And compare it with what happened in the United Kingdom, and therefore, to impart credibility and to undertake this very daunting task, there will have to be convergence of stakeholders.

     Those stakeholders are in the legislature, in the executive, in the judiciary, and in the bar. I am so happy and delighted that he has taken the first step, and in the process, though I may be blowing out of proportion, but for a country that is home to one-sixth of humanity, this may be that step which Neil Armstrong took on 20th of July, 1969, when man landed on the moon for the first time. So my best wishes to you.

    I continue to have my concerns and reservations that every inch you will traverse will be difficult. And therefore, my caveat to what the Attorney General reflected, we are not in the global room of arbitration. We are far distant from it. We have to go much beyond our words. Our convergence will have to be on realistic fabric.

     Each one of us will have to contribute, and when we’ll self-assess, we will find we have been in neglect, and therefore, Justice Gupta, I have known him for a very long time. He means business. I therefore compliment him for getting sponsors, Baker, McKinsey, Miss Samantha Mobley, Miss Minnie Van De Pol. Your presence matters because it was in late 90s I had the occasion to attend a conference in your organisation about the state of arbitral position.

     Our Attorney General is as much in law as in academics, and my expectations from him are always more. But I can tell you and share with you, my expectations from the Attorney General are realistic. And I am sure he would carry a message from this place that he will use his office to catalyse the change, particularly with respect to legislation that is ailing our arbitral process with painful interventions that evade finality and expedition.

     I am happy to greet your Secretary General, Asian African Legal Consultative Organisation, Dr. Kamalinne Pinitpuvadol. I recall vividly what happened in G20. It was Prime Minister Modi’s vision and he succeeded in getting African Union as a permanent member of G20. European Union was already a member. When we examine this development in historical perspective, we will realise the qualitative import of it.

     Added to this, an attorney was keenly involved with that process also to put on global radar the concerns of Global South. You were there in some conferences involving members of Judiciary in the past, and therefore, indeed, a good convergence, soothing convergence Asian-African aspect. This forum has brought together accomplished minds, but I find absence of some as impactful as presence of those who are here.

     I had expected there will be greater participation of those who are reaping the harvest, those who are occupying the century stage, who happen to be your peers. In a country like ours, change takes place only when we slightly depart from formality and talk straight. But I have no doubt that this step that has generated confidence and optimism in me and I would be certainly a soldier of your agenda that the deliberations would go a long way and I would urge let the deliberations not end with this colloquium.

     Let there be extension of brainstorming sessions between individuals. We have some of the finest minds here. When I look around, when I look at my friend senior advocate, Gaurav Bannerjee look at his lineage, how many times we have discussed passionately in mission mode and then rested because handholding has to be by government stakeholders. Handholding has to be by law. Handholding has to emanate from people whose pen matters, and therefore, Justice Gupta has taken a big challenge and every challenge has inbuilt potential opportunity.

     I have no doubt we will so convert. I need not underscore the relevance of arbitral process, its need, but in our country and I can say with modest exposure to global arbitral process, I think being in the International Court of Arbitration for about three years and associated with the commission of that outfit for about nine years. Here, we are not to regain credibility. We have to establish credibility of arbitration. There is a moment subterranean where people in commerce fear arbitral process and that has to be overcome. Arbitrators play as much critical role as members of the board associated with arbitral process.

     Surprisingly, there is, I’m saying it with utmost restraint, absolute tight-fist control of a segment of a category that is involved with arbitral process determination and this tight-fist control emanates out of judicial fields and if we examine it on an objective platform, it is excruciatingly painful. This country has a rich human resource in every facet, Oceanography, Maritime, Aviation, Infrastructure and what not and the disputes are relatable to the experience which is sectoral.

     Unfortunately, we have taken in this country a very myopic view of arbitration as if it is adjudication. It is much beyond adjudication. It is not conventional adjudication as historically evaluated globally. I am enthused in making these observations because Justice Gupta’s mind is stirred by these thoughts. With all my intent not to come here, I have to yield under the pressure of his determination. Now if any country needs smoothest of judicial process, it is India, and India needs it more than any other country for several reasons.

     And why? We are a country that is on the rise. The rise is unstoppable. The rise is incremental. Ladies and gentlemen, let me reflect on the state of the nation at the moment, and I do it on some authority because I had the occasion to be in Parliament in 1989, in seat of governance as a Minister, 1991. I therefore know what the scene was then and what the scene is now.

     Exponential economic upsurge that we are witnessing. India has transformed from 11th economy a decade ago to the 5th largest global economy on way to becoming the 3rd largest ahead of Japan and Germany very shortly.

     We have 8% growth heading towards 4 trillion economy US dollars. Get little away from it. Phenomenal infrastructure growth. Those who have been to this country a decade ago and now and this very place you can see how swiftly it came or Yashobhoomi, or Indian Parliament building newer even in the phase of COVID our Highways, our Aviation sector, our Space sector, our Deep sea sector. So we have phenomenal infrastructure growth. We have 4 new airports and 1 metro system built every year. Which country in the world can do it?

     Daily 14 km of highways and world class Highways and 6 km of Eailways. A nation of 1.4 billion has deep technological penetration. 85 million have been benefited with affordable housing. 330 million with health coverage and 29 million small businesses with loans annually.

    I am giving out these figures because they have rational and rational to the extent arbitral process is concerned. Where the nation is heading? We boast of lunar and mars missions, vaccine productions, we are focussing on Semiconductors, Quantum Computing, green Hydrogen Mission. We are in single digit countries least that is focussing on artificial intelligence. We are one of the few countries in the world that is on way to exploitation of 6G commercially. And look at our spread of 4G all over the country. Every village has it. And therefore, we have all pervasive digitisation. 6.1 billion monthly digital transactions.

     Third largest global ecosystem and the largest Unicorn–Well spread out. People centric policies. Toilet in the house, gas connection in the house, electricity connection in the house, internet connection in the house, road connection, everything is there. And therefore, this development of a decade has converted India as the most aspirational nation in the world. People are now rest even in restlessness. They want more. They want more because they have tasted development. They have benefited from people centric policies. All this can come up only with the surge in economic activity. And every economic activity will have differences, disputes, requiring quick solutions.

     Sometimes, disputes and differences arise on account of perceptional variations, inadequate support, or helplessness. In this situation, it is very significant that we focus on adjudication. Now is the time when India is emerging in every field globally. Why not India should emerge as a global dispute resolution centre? If I reflect to myself and I enormously benefited by my stay as a member in the International Court of Arbitration.

     What do they have which we don’t? Their infrastructure is hardly comparable to what we have. There are cultural centres where arbitrators can really engage. Go to Kolkata, go to Jaipur, go to Bangalore, Hyderabad, Chennai, any part, get away from the metro then you’ll have. I have seen in 10 years growth of arbitral centres with credibility in Dubai and Singapore on self-assessment without fear of contradiction. For this reason, I can say we are nowhere.

     We are not in the mind of people who are having commercial relationship with us if it is international commercial arbitration. There was a time when this country had for the first time a power purchase agreement. My friend Gaurav Banerjee will bear me out. The agreement was settled by a law firm outside the country, but Justice Gupta, it provided for tariff on three terms. One tariff was A, if arbitration is in India as per Indian law, then the tariff will be cheaper by A minus 1. If the arbitration is in India but not according to Indian law. It will still be cheaper if the arbitration was outside India and under outside legal regime. That we have to change, and this finds reflection in power purchase agreement of UNRWA.

     We when are particularly suited naturally, culturally and otherwise the richest human resource on the globe with highest adaptability of Indian mind to highly skilled required techniques and that is why you will find formal economy taking place on account of digital transactions, therefore, time for us to get into a groove to be part of the marathon march that is taking place in the country for India to be a developed nation and India is no longer a country with potential and developed nation status is not our dream it is our destination, and all world organisations that in ‘90 when I was a part of the government were absolutely on us are accolading us global centre favourite centre of Investment and opportunity– International Monetary Fund says World Bank has applauded us that our digitisation accomplished in about six years is not otherwise attainable even in more than four decades we have done it.

     And therefore we will have to go to certain basics I can suggest some, A Former Chief Justice of this country, I am not concerned about the legacy left or the footprints, the nature of which he left but he did make an observation process has become old boys club he was referring to retired judges participation arbitral process.

     I should not be misunderstood even for a moment retired judges of this country are an asset to arbitral process they lend credibility to us. I know some of the former Chief Justices and Judges being absolutely appreciated globally for international commercial arbitration – Justice Lodha, Justice Thakur.

     Let me tell you amazing all of the judges justice everyone is doing I am not for a moment saying keep away from them, No!

     But there are areas where the arbitral tribal needs to be supplemented by experts in the field of Oceanography in Aviation in Infrastructure our judges are perhaps the best in the world. They apply mind, and therefore not for a moment, I should be misunderstood. I do not share the observation of the former Chief justice of old boys’ club. Justice Gupta is immediately suited going by his passion and commitment for bringing about a big change, but I am taking a critic’s view and critic’s view is that the Attorney General of the country can really reflect and make a big change this country in the world tell me has suo-moto cognisance by the highest court.

     I am sure I can’t look around, and Article 136 intervention was supposed to be a narrow slit. The wall has been demolished with anything and everything under the sun including what a Magistrate has to do, What a Sessions Judge as to do, what a District Judge has to do, what a High Court judge has to do, that wall demolition is also hurting Arbitral process.

     All I am suggesting in all humility and a concerned citizen of this country that the issue which you are debating is of critical importance to Micro-small industries they want facile easy arbitral process. For want of time I would not be able to say all I wish to say, and since I have shared my thoughts in private with Justice Gupta, I would concludingly sum up.

     Let us navigate because it is time for us to navigate step by step from alternative resolution to amicable resolution. Why should it be alternative it must be first option why should it be substitute to litigation so amicable resolution from dispute resolution to difference resolution why do we label it, dispute these are differences these are differences because a new person has taken to a particular enterprise in Make in India, he has engaged in a startup. there is some difference this difference he wants to iron out because he is not all in all.

     He can’t have various departments and therefore, let us convert it from dispute resolution to difference resolution and then why resolution? Why not make it from resolution to settlement and why look for judicially enforceable package of Awards. Let us get into consensual convergence.

     All these in my modest assessment will secure commercial partnerships. They will not break partnerships. They will nurture partnerships in commerce, business, trade and industry they will ensure their blossoming. This will augur well for the economic growth and this will also place us in the global arbitration room where presently we are far distanced.

     At the moment, ladies and gentlemen, I have no doubt, let me make my mind clear in a concluding sentence: the arbitral process in our country is just an additional burden to the normal hierarchical mechanism of adjudication. I am grateful to the opportunity accorded to me by Justice Gupta. I wish him good luck and I stand committed to be at your disposal in any manner you feel appropriate or expedient.

    Ladies and gentlemen, thank you so much for your time and patience.

    ******

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  • MIL-OSI Asia-Pac: Prime Minister Shri Narendra Modi addresses the post-budget webinar on agriculture and rural prosperity

    Source: Government of India (2)

    Prime Minister Shri Narendra Modi addresses the post-budget webinar on agriculture and rural prosperity

    Our resolve to move towards the goal of Viksit Bharat is very clear: PM

    Together we are working towards building an India where farmers are prosperous and empowered: PM

    We have considered agriculture as the first engine of development, giving farmers a place of pride: PM

    We are working towards two big goals simultaneously – development of agriculture sector and prosperity of our villages: PM

    We have announced ‘PM Dhan Dhanya Krishi Yojana’ in the budget, under this, focus will be on the development of 100 districts with the lowest agricultural productivity in the country: PM

    Today people have become very aware about nutrition; therefore, in view of the increasing demand for horticulture, dairy and fishery products, a lot of investment has been made in these sectors; Many programs are being run to increase the production of fruits and vegetables: PM

    We have announced the formation of Makhana Board in Bihar: PM

    Our government is committed to making the rural economy prosperous: PM

    Under the PM Awas Yojana-Gramin, crores of poor people are being given houses, the ownership scheme has given ‘Record of Rights’ to property owners: PM

    Posted On: 01 MAR 2025 1:59PM by PIB Delhi

    The Prime Minister Shri Narendra Modi addressed the post-budget webinar on agriculture and rural prosperity today via video-conferencing. Emphasizing the importance of participation in the post-budget webinar, the Prime Minister thanked everyone for joining the program and highlighted that this year’s budget is the first full budget of the Government’s third term, showcasing continuity in policies and a new expansion of the vision for Viksit Bharat. He acknowledged the valuable inputs and suggestions from all stakeholders before the budget, which were very helpful. He stressed that the role of stakeholders has become even more crucial in making this budget more effective.

    “Our resolve towards the goal of Viksit Bharat is very clear and together, we are building an India where farmers are prosperous and empowered”, exclaimed Shri Modi and highlighted that the effort is to ensure no farmer is left behind and to advance every farmer. He stated that agriculture is considered the first engine of development, giving farmers a place of pride. “India is simultaneously working towards two major goals: the development of the agriculture sector and the prosperity of villages”, he mentioned.

    Shri Modi highlighted that the PM Kisan Samman Nidhi Yojana, implemented six years ago, has provided nearly ₹3.75 lakh crore to farmers and the amount has been directly transferred to the accounts of 11 crore farmers. He emphasized that the annual financial assistance of ₹6,000 is strengthening the rural economy. He mentioned that a farmer-centric digital infrastructure has been created to ensure the benefits of this scheme reach farmers across the country, eliminating any scope for intermediaries or leakages. The Prime Minister remarked that the success of such schemes is possible with the support of experts and visionary individuals. He appreciated their contributions, stating that any scheme can be implemented with full strength and transparency with their help. He expressed his appreciation for their efforts and mentioned that the Government is now working swiftly to implement the announcements made in this year’s budget, seeking their continued cooperation.

    Underlining that India’s agricultural production has reached record levels, the Prime Minister said that 10-11 years ago, agricultural production was around 265 million tons, which has now increased to over 330 million tons. Similarly, horticultural production has exceeded 350 million tons. He attributed this success to the Government’s approach from seed to market, agricultural reforms, farmer empowerment, and a strong value chain. Shri Modi emphasized the need to fully utilize the country’s agricultural potential and achieve even bigger targets. In this direction, the budget has announced the PM Dhan Dhanya Krishi Yojana, focusing on the development of the 100 least productive agricultural districts, he added. The Prime Minister mentioned the positive results seen from the Aspirational Districts program on various development parameters, benefiting from collaboration, convergence, and healthy competition. He urged everyone to study the outcomes from these districts and apply the learnings to advance the PM Dhan Dhanya Krishi Yojana, which will help increase farmers’ income in these 100 districts.

    Prime Minister underscored that efforts in recent years have increased the country’s pulse production, however, 20 percent of domestic consumption still relies on imports, necessitating an increase in pulse production. Heremarked that while India has achieved self-sufficiency in chickpeas and mung, there is a need to accelerate the production of pigeon peas, black gram, and lentils. To boost pulse production, it is essential to maintain the supply of advanced seeds and promote hybrid varieties, he stated, stressing on the need to focus on addressing challenges such as climate change, market uncertainty, and price fluctuations.

    Pointing out that in the past decade, ICAR has utilized modern tools and cutting-edge technologies in its breeding program, and as a result, over 2,900 new varieties of crops, including grains, oilseeds, pulses, fodder, and sugarcane, have been developed between 2014 and 2024, the Prime Minister emphasized the need to ensure that these new varieties are available to farmers at affordable rates and that their produce is not affected by weather fluctuations. He mentioned the announcement of a national mission for high-yield seeds in this year’s budget. He urged private sector participants to focus on the dissemination of these seeds, ensuring they reach small farmers by becoming part of the seed chain.

    Shri Modi remarked that there was a growing awareness about nutrition among people today and underscored that significant investments have been made in sectors such as horticulture, dairy, and fishery products to meet the increasing demand. He mentioned that various programs were being implemented to boost the production of fruits and vegetables, and the formation of the Makhana Board in Bihar has been announced. He urged all stakeholders to explore new ways to promote diverse nutritional foods, ensuring their reach to every corner of the country and the global market.

    Recalling the launch of the PM Matsya Sampada Yojana in 2019, aimed at strengthening the value chain, infrastructure, and modernization of the fisheries sector, the Prime Minister stated that this initiative had improved production, productivity, and post-harvest management in the fisheries sector, while the investments in this sector had increased through various schemes, resulting in a doubling of fish production and exports. He underlined the need to promote sustainable fishing in the Indian Exclusive Economic Zone and open seas, and a plan will be prepared for this purpose. Shri Modi urged stakeholders to brainstorm ideas to promote ease of doing business in this sector and start working on them as soon as possible. He also stressed the importance of protecting the interests of traditional fishermen.

    “Our Government is committed to enriching the rural economy”, said the Prime Minister and highlighted that under the PM Awas Yojana-Gramin, crores of poor people are being provided with homes, and the Swamitva Yojana has given property owners ‘Record of Rights.’ He mentioned that the economic strength of self-help groups has increased, and they have received additional support. He noted that the Pradhan Mantri Gram Sadak Yojana has benefited small farmers and businesses. Reiterating the goal to create 3 crore Lakhpati Didis, while efforts have already resulted in 1.25 crore women becoming Lakhpati Didis, Shri Modi emphasized that the announcements in this budget for rural prosperity and development programs have created numerous new employment opportunities. Investments in skilling and technology are generating new opportunities, he added. The Prime Minister urged everyone to discuss how to make the ongoing schemes more effective. He expressed confidence that positive results will be achieved with their suggestions and contributions. He concluded by stating that active participation from everyone will empower villages and enrich rural families. He expressed confidence that the webinar will help ensure swift implementation of the schemes of the budget. He urged all the stakeholders involved to work in unison to achieve the targets of the budget.

     

     

    ***

    MJPS/SR

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  • MIL-OSI Asia-Pac: Union Minister of Chemicals & Fertilizers and Health & Family Welfare, Shri Jagat Prakash Nadda inaugurates the week long celebrations of Jan Aushadhi Diwas, 2025 by flagging off vehicles carrying the information about Pradhan Mantri Bhartiya Janaushadhi Pariyojana in New Delhi today

    Source: Government of India

    Union Minister of Chemicals & Fertilizers and Health & Family Welfare, Shri Jagat Prakash Nadda inaugurates the week long celebrations of Jan Aushadhi Diwas, 2025 by flagging off vehicles carrying the information about Pradhan Mantri Bhartiya Janaushadhi Pariyojana in New Delhi today

    Let us create a Jan-Andolan for Janaushdahi: Shri Jagat Prakash Nadda

    PMBJP has led to total savings of approx. Rs.30,000 crores for the citizens during the past 10 years

    Posted On: 01 MAR 2025 1:26PM by PIB Delhi

    Union Minister of Chemicals & Fertilizers and Health & Family Welfare, Shri Jagat Prakash Nadda inaugurated the weeklong celebrations of Jan Aushadhi Diwas, 2025 by flagging off the Rath (Chariot) and 10 other vehicles carrying the information about Pradhan Mantri Bhartiya Janaushadhi Pariyojana from Nirman Bhawan today. Union Minister of State for Chemicals & Fertilizers, Ms. Anupriya Patel and Secretary, Department of Pharmaceuticals, Shri Amit Agrawal were also present on the occasion.

     

    Addressing the gathering during the flag off ceremony Shri Jagat Prakash Nadda urged the citizens of the country to participate in these programs for wider awareness about this noble project of the Government so that a Jan-Andolan is created for Jan-Aushadhi.

    Ms. Anupriya Patel also addressed the gathering and gave a brief about seven days week long programs to be held across the country for celebration of 7thJan Aushadhi Diwas.

    At the initiative of the Prime Minister Shri Narendra Modi, the 7thof March is celebrated every year as “Jan Aushadhi Diwas” with a view to enhance awareness about the scheme and promote generic medicines.  As in earlier years, week-long events have been planned at various locations across the country from the 1st to the 7th of March 2025. The vehicles that have been flagged off today will disseminate the information about PMBJP in the National Capital Region (NCR).

    With an objective of making quality generic medicines available at affordable prices to all, Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) was launched by the Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers, Government of India. Under this scheme, dedicated outlets known as Jan Aushadhi Kendras (JAKs) are opened to provide generic medicines.

    As on 28.02.2025, 15000 Jan Aushadhi Kendras (JAKs) have been opened across the country. Product basket of PMBJP comprises 2047 drugs and 300 surgical equipment which are sold at retail shops at 50% to 80% cheaper than branded medicines.

    Under PMBJP, the government has set a target to open 25000 JAKs by 31st March, 2027 across the country. The target of opening 15000 JAKs by March, 2025 has already been achieved by PMBI on 31.01.2025.

    In order to cover large category of medicines, 29 Major Therapeutic Groups like Antibiotics & Anti-infectives, Anti-Cancer, Anti-Diabetics, Cardiovascular Drugs, Analgesics and Antipyretic, Anti-Allergic, Gastro-Intestinal Agents, Vitamins & Minerals, Food supplements/Nutraceuticals, Topical Medicines etc have been covered in PMBJP basket. Further, 300 Surgical Equipment & Consumable like Masks, Orthopedic Rehabilitation Products, Surgical Dressings, Syringes & Needles, Sanitary Napkins, Sutures, Diapers, Rubber Gloves, Oximeter, Rapid Antigen Test Kit, etc have also been covered under PMBJP basket.

    In the financial year i.e., 2023-24, PMBJP has made sales of Rs. 1470 Crore (at MRP) which has led to savings of approximately Rs. 7350 Cr. to the citizens. In the current financial year i.e., 2024-25, PMBJP has made sales of Rs. 1760 Crore (at MRP) till 28.02.2025. In the last 10 years, the no. of Kendras have increased by 180 times and the sales have also increased more than 200 times. In all, during the past 10 years, total savings of approximately Rs. 30,000 crores for the citizens have been possible due to this noble scheme.

     *****

    MV/AKS

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  • MIL-OSI Africa: Secretary-General’s message on World Wildlife Day [scroll down for French version]

    Source: United Nations – English

    umanity’s relationship with nature is at a tipping point.

    Our addiction to fossil fuels and unsustainable use of resources is driving ecosystems to collapse and species to extinction, while investments in biodiversity protection are dwindling.

    This is a recipe for disaster not only for nature, but for communities around the world counting on healthy ecosystems for their well-being and very survival.

    It’s time to choose another, smarter path.  

    This year, World Wildlife Day highlights the need for conservation finance.

    Investing in healthy ecosystems is vital to providing clean air and water, regulating our climate, and supporting livelihoods.

    This requires mobilizing public and private resources to conserve wildlife and habitats; honouring financial commitments and supporting vulnerable countries where biodiversity is most at risk; reducing financial pressure from debt distress and climate shocks; developing innovative solutions like green and blue bonds; applying the United Nations’ Multidimensional Vulnerability Index to steer affordable financing; and ensuring that Indigenous Peoples and local communities — the first line of defense for our ecosystems — have equitable access to funds.

    The recently adopted Pact for the Future includes a revitalized commitment to halt and reverse global biodiversity loss by 2030.

    Getting there requires financing.  Together, let’s invest in a future where nature and people thrive together.

    *****
    La relation que l’humanité entretient avec la nature atteint un point de rupture.

    Notre dépendance aux énergies fossiles et l’utilisation non durable des ressources entraînent un effondrement des écosystèmes et l’extinction des espèces, alors même que les investissements en faveur de la protection de la biodiversité diminuent.

    Si les choses continuent ainsi, c’est la catastrophe assurée – non seulement pour la nature, mais aussi pour les communautés du monde entier qui ont besoin d’écosystèmes sains pour vivre et pour survivre.

    Il est temps d’opter pour une voie plus sensée.

    Cette année, la Journée mondiale de la vie sauvage met l’accent sur la nécessité de financer les activités de conservation.

    Il est indispensable d’investir dans des écosystèmes sains pour bénéficier d’un air et d’une eau propres, réguler notre climat et assurer des moyens de subsistance.

    Pour cela, il faut mobiliser des ressources publiques et privées en faveur de la préservation des espèces sauvages et de leurs habitats ; honorer les engagements financiers pris et épauler les pays vulnérables dans lesquels la biodiversité est la plus menacée ; atténuer la pression financière due au surendettement et aux chocs climatiques, imaginer des solutions innovantes telles que les obligations vertes et bleues ; appliquer l’indice de vulnérabilité multidimensionnelle établi par l’ONU pour orienter des financements abordables ; et veiller à ce que les peuples autochtones et les communautés locales – qui constituent la première ligne de défense de nos écosystèmes – jouissent d’un accès équitable aux sources de financement.

    Le Pacte pour l’avenir, récemment adopté, comprend un engagement renouvelé à faire cesser et reculer la perte de biodiversité mondiale d’ici à 2030.

    Pour y parvenir, il faut des financements. Ensemble, investissons dans un avenir qui permette à la nature et à l’humanité de prospérer ensemble.

    MIL OSI Africa –

  • MIL-OSI United Nations: Secretary-General’s message on World Wildlife Day [scroll down for French version]

    Source: United Nations secretary general

    Humanity’s relationship with nature is at a tipping point.

    Our addiction to fossil fuels and unsustainable use of resources is driving ecosystems to collapse and species to extinction, while investments in biodiversity protection are dwindling.

    This is a recipe for disaster not only for nature, but for communities around the world counting on healthy ecosystems for their well-being and very survival.

    It’s time to choose another, smarter path.  

    This year, World Wildlife Day highlights the need for conservation finance.

    Investing in healthy ecosystems is vital to providing clean air and water, regulating our climate, and supporting livelihoods.

    This requires mobilizing public and private resources to conserve wildlife and habitats; honouring financial commitments and supporting vulnerable countries where biodiversity is most at risk; reducing financial pressure from debt distress and climate shocks; developing innovative solutions like green and blue bonds; applying the United Nations’ Multidimensional Vulnerability Index to steer affordable financing; and ensuring that Indigenous Peoples and local communities — the first line of defense for our ecosystems — have equitable access to funds.

    The recently adopted Pact for the Future includes a revitalized commitment to halt and reverse global biodiversity loss by 2030.

    Getting there requires financing.  Together, let’s invest in a future where nature and people thrive together.

    *****
    La relation que l’humanité entretient avec la nature atteint un point de rupture.

    Notre dépendance aux énergies fossiles et l’utilisation non durable des ressources entraînent un effondrement des écosystèmes et l’extinction des espèces, alors même que les investissements en faveur de la protection de la biodiversité diminuent.

    Si les choses continuent ainsi, c’est la catastrophe assurée – non seulement pour la nature, mais aussi pour les communautés du monde entier qui ont besoin d’écosystèmes sains pour vivre et pour survivre.

    Il est temps d’opter pour une voie plus sensée.

    Cette année, la Journée mondiale de la vie sauvage met l’accent sur la nécessité de financer les activités de conservation.

    Il est indispensable d’investir dans des écosystèmes sains pour bénéficier d’un air et d’une eau propres, réguler notre climat et assurer des moyens de subsistance.

    Pour cela, il faut mobiliser des ressources publiques et privées en faveur de la préservation des espèces sauvages et de leurs habitats ; honorer les engagements financiers pris et épauler les pays vulnérables dans lesquels la biodiversité est la plus menacée ; atténuer la pression financière due au surendettement et aux chocs climatiques, imaginer des solutions innovantes telles que les obligations vertes et bleues ; appliquer l’indice de vulnérabilité multidimensionnelle établi par l’ONU pour orienter des financements abordables ; et veiller à ce que les peuples autochtones et les communautés locales – qui constituent la première ligne de défense de nos écosystèmes – jouissent d’un accès équitable aux sources de financement.

    Le Pacte pour l’avenir, récemment adopté, comprend un engagement renouvelé à faire cesser et reculer la perte de biodiversité mondiale d’ici à 2030.

    Pour y parvenir, il faut des financements. Ensemble, investissons dans un avenir qui permette à la nature et à l’humanité de prospérer ensemble.

    MIL OSI United Nations News –

  • MIL-OSI: ING acquires stake in Van Lanschot Kempen

    Source: GlobeNewswire (MIL-OSI)

    ING acquires stake in Van Lanschot Kempen

    ING announced today that it has reached an agreement with Reggeborgh Groep B.V. on the acquisition of a 17.6% stake in Van Lanschot Kempen N.V., a specialist wealth manager serving Private, Institutional and Investment banking clients, operating predominantly in the Netherlands and Belgium. Together with an existing 2.7% stake, ING will hold a 20.3% stake in Van Lanschot Kempen after completion of the transaction.

    “Van Lanschot Kempen is a respected, listed, well-capitalised, profitable wealth manager with a strong specialist position in amongst others the Netherlands and Belgium. Their history goes back almost three centuries. Acquiring this stake presents an attractive financial opportunity and with this transaction we are executing on our goal to enhance our position in private banking and wealth management,” said ING CEO Steven van Rijswijk. “We see this transaction as a long-term financial investment and we support Van Lanschot Kempen’s management, recognising the strong progress in the execution of their strategy.”

    Under the terms of the agreement, ING has directly acquired a stake of 7.2%, bringing its stake in Van Lanschot Kempen to 9.9%. The remainder of the transaction is subject to regulatory approval. The transaction is expected to have a minimal impact on ING’s CET1 ratio.

    Note for editors

    For more on ING, please visit www.ing.com. Frequent news updates can be found in the Newsroom. Photos of ING operations, buildings and its executives are available for download at Flickr.

    ING PROFILE

    ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank’s more than 60,000 employees offer retail and wholesale banking services to customers in over 100 countries.

    ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).

    ING aims to put sustainability at the heart of what we do. Our policies and actions are assessed by independent research and ratings providers, which give updates on them annually. ING’s ESG rating by MSCI was reconfirmed by MSCI as ‘AA’ in August 2024 for the fifth year. As of December 2023, in Sustainalytics’ view, ING’s management of ESG material risk is ‘Strong’. Our current ESG Risk Rating, is 17.2 (Low Risk). ING Group shares are also included in major sustainability and ESG index products of leading providers including Euronext, STOXX, Morningstar and FTSE Russell.

    IMPORTANT LEGAL INFORMATION

    Elements of this press release contain or may contain information about ING Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/2014 (‘Market Abuse Regulation’).

    ING Group’s annual accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (‘IFRS- EU’). In preparing the financial information in this document, except as described otherwise, the same accounting principles are applied as in the 2023 ING Group consolidated annual accounts. The Financial statements for 2024 are in progress and may be subject to adjustments from subsequent events. All figures in this document are unaudited. Small differences are possible in the tables due to rounding.

    Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to a number of factors, including, without limitation: (1) changes in general economic conditions and customer behaviour, in particular economic conditions in ING’s core markets, including changes affecting currency exchange rates and the regional and global economic impact of the invasion of Russia into Ukraine and related international response measures (2) changes affecting interest rate levels (3) any default of a major market participant and related market disruption (4) changes in performance of financial markets, including in Europe and developing markets (5) fiscal uncertainty in Europe and the United States (6) discontinuation of or changes in ‘benchmark’ indices (7) inflation and deflation in our principal markets (8) changes in conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness (9) failures of banks falling under the scope of state compensation schemes (10) non- compliance with or changes in laws and regulations, including those concerning financial services, financial economic crimes and tax laws, and the interpretation and application thereof (11) geopolitical risks, political instabilities and policies and actions of governmental and regulatory authorities, including in connection with the invasion of Russia into Ukraine and the related international response measures (12) legal and regulatory risks in certain countries with less developed legal and regulatory frameworks (13) prudential supervision and regulations, including in relation to stress tests and regulatory restrictions on dividends and distributions (also among members of the group) (14) ING’s ability to meet minimum capital and other prudential regulatory requirements (15) changes in regulation of US commodities and derivatives businesses of ING and its customers (16) application of bank recovery and resolution regimes, including write down and conversion powers in relation to our securities (17) outcome of current and future litigation, enforcement proceedings, investigations or other regulatory actions, including claims by customers or stakeholders who feel misled or treated unfairly, and other conduct issues (18) changes in tax laws and regulations and risks of non-compliance or investigation in connection with tax laws, including FATCA (19) operational and IT risks, such as system disruptions or failures, breaches of security, cyber-attacks, human error, changes in operational practices or inadequate controls including in respect of third parties with which we do business and including any risks as a result of incomplete, inaccurate, or otherwise flawed outputs from the algorithms and data sets utilized in artificial intelligence (20) risks and challenges related to cybercrime including the effects of cyberattacks and changes in legislation and regulation related to cybersecurity and data privacy, including such risks and challenges as a consequence of the use of emerging technologies, such as advanced forms of artificial intelligence and quantum computing (21) changes in general competitive factors, including ability to increase or maintain market share (22) inability to protect our intellectual property and infringement claims by third parties (23) inability of counterparties to meet financial obligations or ability to enforce rights against such counterparties (24) changes in credit ratings (25) business, operational, regulatory, reputation, transition and other risks and challenges in connection with climate change and ESG-related matters, including data gathering and reporting (26) inability to attract and retain key personnel (27) future liabilities under defined benefit retirement plans (28) failure to manage business risks, including in connection with use of models, use of derivatives, or maintaining appropriate policies and guidelines (29) changes in capital and credit markets, including interbank funding, as well as customer deposits, which provide the liquidity and capital required to fund our operations, and (30) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING’s more recent disclosures, including press releases, which are available on www.ING.com.

    This document may contain ESG-related material that has been prepared by ING on the basis of publicly available information, internally developed data and other third-party sources believed to be reliable. ING has not sought to independently verify information obtained from public and third-party sources and makes no representations or warranties as to accuracy, completeness, reasonableness or reliability of such information.

    Materiality, as used in the context of ESG, is distinct from, and should not be confused with, such term as defined in the Market Abuse Regulation or as defined for Securities and Exchange Commission (‘SEC’) reporting purposes. Any issues identified as material for purposes of ESG in this document are therefore not necessarily material as defined in the Market Abuse Regulation or for SEC reporting purposes. In addition, there is currently no single, globally recognized set of accepted definitions in assessing whether activities are “green” or “sustainable.” Without limiting any of the statements contained herein, we make no representation or warranty as to whether any of our securities constitutes a green or sustainable security or conforms to present or future investor expectations or objectives for green or sustainable investing. For information on characteristics of a security, use of proceeds, a description of applicable project(s) and/or any other relevant information, please reference the offering documents for such security.

    This document may contain inactive textual addresses to internet websites operated by us and third parties. Reference to such websites is made for information purposes only, and information found at such websites is not incorporated by reference into this document. ING does not make any representation or warranty with respect to the accuracy or completeness of, or take any responsibility for, any information found at any websites operated by third parties. ING specifically disclaims any liability with respect to any information found at websites operated by third parties. ING cannot guarantee that websites operated by third parties remain available following the publication of this document, or that any information found at such websites will not change following the filing of this document. Many of those factors are beyond ING’s control.

    Any forward-looking statements made by or on behalf of ING speak only as of the date they are made, and ING assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.

    This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States or any other jurisdiction.

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    The MIL Network –

  • MIL-OSI Australia: Federation TAFE Awards honour student excellence

    Source: Federation University

    Federation TAFE’s outstanding achievers were celebrated at the 2025 Federation TAFE Awards for Excellence with 42 award winners announced at a gala event at The Mining Exchange, Ballarat, on Thursday 27 February.

    Recipients across 30 categories were recognised for excellence in their chosen areas of study and presented with certificates by industry sponsors and community leaders including Mayor, City of Ballarat, Councillor Tracey Hargreaves.

    The Federation TAFE Apprentice of the Year Award, sponsored by The Rotary Club of Ballarat South, went to Certificate III in Electrotechnology Electrician student Lachlan McKenzie, while Diploma of Nursing student Cathrin Logan was awarded the City of Ballarat sponsored Federation TAFE Trainee of the Year award for her work with Grampians Health.

    Owen Pugh, a Diploma of Engineering – Technical student received the prestigious EJT Tippett Outstanding Achievement Award for outstanding achievement in and dedication to his studies.
    Owen originally began studying engineering within the higher education environment, however he soon changed to study the Diploma qualification at Federation TAFE for its practical and valuable hands-on experience. Owen is now enrolled to study a Bachelor of Engineering (Mechanical) at Federation University while working as an assistant draftsperson.

    Two new awards sponsored by the Highlands Local Learning and Employment Network (LLEN) recognising excellence in vocational education and training delivered to secondary school (VETDSS) students were presented for the first time this year.

    The Highlands LLEN VET Cluster VETDSS Award for Excellence was awarded to Piper Burzacott, Jordan Canavan, Noah McLelland, and Molly Skoblar while the Highlands LLEN Vocational Major award was presented to Federation College student, Giaan Watts.

    Certificate III in Engineering Composites Trade student, Eden Row was awarded The Rotary Club of Ballarat Endeavour Award while Chris Britten, Azlan Harris, and Alexander Radoll all received a Federation TAFE Growth Award awarded to Aboriginal and/or Torres Strait Islander First Nations People students who demonstrate significant commitment to their studies.

    Wimmera Federation TAFE Diploma of Nursing teacher, Gabrielle McCulloch was awarded VET Teacher/Trainer of the Year in recognition of her strong focus on bridging the gap between theory and practical application and ensuring students are well prepared for the nursing workforce.

    The Federation TAFE Awards for Excellence incorporated the Craftsperson Awards where 150 students who successfully completed their apprenticeship training in 2024 were welcomed with the honorary title of “Craftsperson of the City of Ballarat” by Federation University, the City of Ballarat and the Rotary Club of Ballarat. Dating back to 1956, the Craftsperson Awards also acknowledge the region’s businesses who participate in the apprenticeship scheme.

    Quotes attributable to Federation University Pro Vice-Chancellor VET & Pathways and Chief Executive TAFE, Mr Darren Gray

    “Congratulations to all the 2025 Federation TAFE Awards for Excellence winners and nominees. These awards celebrate the outstanding achievements, determination, and enterprise of our students, apprentices, trainees, and teachers, as well as the support of local employers and industry.”

    “The award winners have shown excellence in pursuit of their studies and chosen careers, and we look forward to seeing the positive impact they will make within their communities and industries.”

    Quotes attributable to City of Ballarat Mayor, Cr Tracey Hargreaves

    “The City of Ballarat’s association with Federation University Australia’s TAFE Awards for Excellence goes back almost 70 years and we are proud to continue supporting the prestigious event.”

    “It is critical that we teach people the importance of using their skills and knowledge to obtain gainful employment, self-esteem and make a positive contribution to our community and economy.”

    Quotes attributable to President of the Rotary Club of Ballarat, Jan Davidson

    “As President of the Rotary Club of Ballarat, I am both humbled and inspired by the number of students showcased within the Federation TAFE Awards for Excellence, incorporating the Craftsperson Awards which have been in existence since 1956.”

    “The Rotary Club of Ballarat Endeavour Award honours the student’s tenacity and devotion to their studies, and I am honoured to be a member of an organisation that continues to support such a brilliant award. I know these inspirational people will go on to greater success, and I look forward to seeing where their journeys lead them.”

    Quotes attributable to EJT Tippett Outstanding Achievement Award recipient, Owen Pugh

    “Receiving the EJT Tippett Outstanding Achievement Award was a welcome surprise. I’m honoured and flattered to be recognised.”

    “Studying with Federation TAFE has been a great experience for me. The Diploma of Engineering – Technical course content, my teacher, Justin Bisson, who had a real impact on me, and working with all the students from different employment and learning backgrounds really gave me a new perspective on things. The hands-on nature of the course required you to think in practical terms, such as application and outcome of engineering, practical design, and working as a part of a team, and was something I wouldn’t have been able to get anywhere else.”

    “My experience at Federation TAFE has given me the confidence to go into the workforce as a Draftsperson and begin studying a Bachelor of Engineering (Mechanical) with Federation University.”

    MIL OSI News –