Category: Economy

  • MIL-OSI Russia: The II National (All-Russian) Round Table “Science in a Foreign Language – a Step into the Future of a Professional” was held at SPbGASU

    Translartion. Region: Russians Fedetion –

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – Participants and listeners of the section “Architecture today and tomorrow: design, innovations and trends”

    On April 3, the Department of Intercultural Communication of SPbGASU held the II National (All-Russian) Round Table “Science in a Foreign Language – a Step into the Future of a Professional”.

    This year, the round table brought together students, postgraduates and graduate students from St. Petersburg, Moscow, Nizhny Novgorod, Penza, Omsk, as well as students of the preparatory department of SPbGASU and students studying in master’s and postgraduate programs from China, Morocco, Algeria, Serbia, who presented the results of their scientific research in English and Russian as a foreign language.

    The chairperson of the organizing committee, head of the department of intercultural communication Elena Selezneva addressed the participants with a welcoming speech, expressing confidence: in the modern world, knowledge of a foreign language is no longer just an advantage, but a necessity for success in any scientific field. The ability to convey your scientific ideas, regardless of language barriers, is of decisive importance.

    The Deputy Chair of the Organizing Committee, Professor of the Department of Intercultural Communication Elena Chirkova also gave a welcoming speech. Elena Ivanovna spoke about the word cloud created last year – a visual representation of key concepts and ideas that arose during the discussions.

    The round table was organized in four areas: architecture, construction, economics and intercultural communication.

    Section “Architecture today and tomorrow: design, innovation and trends”

    The section meeting discussed a wide range of issues in the modern development of architecture and the preservation of cultural heritage, including the role of lighting, innovative approaches to design, the development of the urban environment and leisure infrastructure, and technologies for the restoration of historical buildings in Russia and abroad.

    Anastasia Nasedkina (SPbGASU) presented a report on “Landscape architecture techniques for designing public spaces in northern cities.”

    “My report was dedicated to landscape architecture techniques in designing public spaces in northern cities based on the concept of a “winter city”. I chose this topic because projects often do not take into account how the object will look or be used in winter, and this can be a very long time,” shared Anastasia.

    Tatyana Lazareva (SPbGASU) presented a report entitled “15-minute city as a solution to the urban crisis.”

    “I reviewed the model of urban development aimed at creating comfortable, accessible and environmentally friendly urban spaces. I listed the key principles of this approach, successful examples of its implementation in different countries, as well as the challenges that modern megacities face,” the student said.

    Section “Construction today and tomorrow: design, innovation and trends”

    The participants of this section raised such important issues as geological surveys to ensure safety in construction, innovative technologies and building materials and their properties for the stability of structures.

    Liu Zichi (SPbGASU) spoke about approaches to the restoration of historical buildings in China and Russia. The audience also learned about the differences in the choice of building materials between the two countries, which are influenced by the natural environment, climate conditions, cultural traditions and conditions of technological development.

    Yassin Sekuri (SPbGASU) covered the topic “Application of innovative construction technologies in cramped urban environments.”

    “The use of innovative technologies in construction in urban development conditions is a necessary step for sustainable urban development. Digitalization and modular technologies improve the quality of construction, reduce timeframes and minimize the impact on the environment. Safety at construction sites is maintained through new monitoring and automation systems,” Yassin is confident.

    Section “Economy in the era of change: challenges and prospects”

    The section’s reports were devoted to the problems of logistics and digitalization, ecology and tourism, motivation and communication in the economic sphere. It is also worth noting the participants’ interest in using artificial intelligence to solve practical problems.

    Vladislav Tikkoev (SPbGASU) introduced the audience to the prospects and difficulties of the transition to electronic executive documentation in construction.

    “In my report, I drew attention to new methods of maintaining documentation during the construction of capital construction projects. Modern EDI tools now also apply to such an important aspect of the activities of construction companies as the certification of completed works. I cited the main provisions that regulate the forms and procedure for maintaining documentation, distribute areas of responsibility between construction participants, and also provided examples from domestic and foreign practice. I spoke about the problems and prospects of using digital forms of acts in the conclusion. In further research, I will assess the impact of a systematic approach to the preparation of executive documentation on the financial stability of organizations and the feasibility of capital construction projects,” said Vladislav.

    Pavel Timofeev (SPbGASU) presented a report entitled “Problems of logistics in the implementation of the Arctic development program.”

    “My report is dedicated to the main tasks set by the Strategy for the Development of the Arctic Zone of the Russian Federation and Ensuring National Security for the Period up to 2035, as well as logistical problems that may hinder the implementation of these tasks. The report reveals why the projects specified in the strategy, which are of strategic interest to our country, may be under threat, and what decisions are being made to prevent these threats or minimize their consequences,” Pavel said.

    Jamil-Nezhar Benshaban (Saint Petersburg State Forest Engineering University named after S. M. Kirov) presented a report on “The Impact of Artificial Intelligence and Gamification on the Motivation of Company Employees”.

    “What if work felt less like work and more like a game? Imagine you’re at your desk, working on a project, and suddenly bam – you’ve earned points, unlocked a new level, and your name moves up the leaderboard. Your colleague at the next desk says ‘high five’, and your boss sends you a reward. It’s not science fiction. Companies in Algeria, Russia, and elsewhere are already using AI-powered gamification to turn routine work into exciting competitions,” Jamil-Nezhar said.

    The speaker looked at the reasons why people love games; gave examples of how this method is used in some companies; called for starting small – creating a leaderboard for a weekly team competition, conducting employee surveys using AI tools, introducing a rewards system. In his opinion, we need to think globally: “The future is not about making people stay at work: we need to make them want to stay.”

    Section “Intercultural communication, language interaction and translation practice”

    Postgraduate student Li Ruimin, participant of the section “Intercultural communication, language interaction and translation practice”

    During the work of this section, reports were heard on current issues of translation of scientific and technical texts; special attention was paid to the prospects of using artificial intelligence for translation purposes. In addition, the participants conducted a comparative analysis of the organization of the educational process in Russian and Chinese universities. Everyone agreed on the importance and necessity of studying a foreign language for future professional activity.

    Martina Kojović (SPbGASU) presented a report “Serbian and Russian. Language proximity – help or obstacle in mastering the Russian language?” According to the student, the linguistic proximity of Serbian and Russian can be both an assistant and an obstacle in learning. It is important to be aware of the similarities and differences in order to effectively master the language, avoiding traps and “false friends” (words that are similar but have different meanings), grammatical errors.

    The sections were moderated by students Anna Aleshina, Daria Nikulina, Sofia Myagkaya and Fyodor Romanchuk, who successfully completed the professional training program “Translator in the Sphere of Professional Activity” last year.

    “This was my first experience moderating a round table. From it I learned the importance of flexibility and the ability to adapt to unexpected situations, which will certainly come in handy in the future. I enjoyed interacting with an active audience and, of course, I would like to develop in this direction,” Fedor shared.

    “It was interesting to try myself in a new role and learn more about modern architectural research. I gained valuable experience – I learned how to build interaction between the speaker and the audience, and also met interesting people,” said Anna Aleshina.

    A round table in a foreign language is not only a platform for discussing the results of scientific research, but also an opportunity to improve language skills, which are a significant component of professional growth.

    This year the round table program was very rich. Participants of all sections raised topical issues that are of serious scientific interest.

    The Department of Intercultural Communication of SPbGASU expresses gratitude to all participants and invites them to discuss new scientific achievements next year.

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

    MIL OSI Russia News

  • MIL-OSI Security: Met officers recover £50k of stolen tools in east London

    Source: United Kingdom London Metropolitan Police

    Around £50,000 worth of stolen tools were recovered during a Metropolitan Police operation at a car boot sale in Rainham, east London.

    In response to concerns from tradespeople about a rise in tool thefts, the Met worked with Essex Police and trading standards officers to carry out a large search of the Willow Farm Car Boot Sale on Sunday, 6 April.

    By using intelligence, and with the help of a dog that can sniff out items marked with forensic water, officers identified and seized around 1,000 suspected stolen tools.

    Four men, aged between 40 and 60, from Hackney and Southend-on-Sea were arrested on suspicion of handling stolen goods.

    A number of suspected stolen bikes, as well as cash, illegal vapes and other counterfeit goods were also seized.

    Inspector Mark Connolly, from the Met’s neighbourhood policing team in east London, said:

    “We’ve heard from hard-working Londoners about the financial and personal impact of tool theft and we’re working hard across the Met to tackle it.

    “As well as working with partners to target prolific offenders in proactive and intelligence-led operations such as this, we’re also carrying out tool marking events to make it harder for criminals to sell on stolen goods.”

    Inspector Daniel Selby, from Essex Police’s Grays Neighbourhood Policing Team, said:

    “Trading stolen or counterfeit goods is illegal and inexcusable, so we are working with our partners to disrupt supply lines and arrest those who are profiting from crime.

    “Hard-working tradespeople rely on their tools to make a living and we appreciate how devastating the implications of a theft can be for victims and their families at a time when many people are struggling financially.

    “Purchasing illegitimate goods only serves to line the pockets of the criminals, creates a market that inevitably leads to more offending, and can land the buyer in serious trouble.”

    Officers will work over the coming weeks to identify the tools and trace their original owners.

    Any tradespeople or those in possession of power tools are advised to mark their property, take photographs, and record serial numbers so that, in the event of theft, officers have more chance of returning property.

    Marking tools with SelectaDNA forensic water also helps officers identify stolen goods. Met officers will be hosting a free tool marking event at the Toolstation in Ramac Way in Charlton between 07:30hrs and 14:00hrs on Tuesday, 8 April.

    We also advise reporting any thefts in a timely manner, providing as much detail as possible. Removing tools from your vehicles overnight will also help deter thieves.

    We urge the public not to buy goods you know or suspect to be stolen or counterfeit, as this feeds organised crime. If the price seems too good to be true, it could be the item is either stolen or fake. Buying goods you know or suspect to be stolen is a criminal offence.

    If you suspect anyone of selling stolen or counterfeit goods, you can report this to us online or anonymously via Crimestoppers on 0800 555 111.

    MIL Security OSI

  • MIL-OSI: ONCAP Announces Final Close for ONCAP V

    Source: GlobeNewswire (MIL-OSI)

    All amounts in U.S. dollars unless otherwise stated

    TORONTO, April 07, 2025 (GLOBE NEWSWIRE) — Onex Corporation (TSX: ONEX) and its mid-market private equity platform ONCAP are pleased to announce the final close for ONCAP V, with $1.3 billion in total commitments, including $250 million from Onex. ONCAP V achieved several key objectives relative to its prior fund, including growing total commitments, increasing third-party capital by more than 50%, and welcoming many new investors to the ONCAP platform.

    The ONCAP team has already completed four investments in ONCAP V, and the Fund is 40% deployed. In 2024, ONCAP returned $530 million of capital to its Limited Partners, or over 20% of ONCAP’s total net asset value, and launched its first continuation vehicle for Wyse Meter Solutions.

    “I am immensely proud of the team for achieving such a positive outcome with ONCAP V and grateful to our investors for placing their confidence in us,” said Michael Lay, Managing Partner of ONCAP. “Across our 25-year history spanning 235 platform and follow-on investments, we have developed a unique market proposition and investing framework. I am excited by ONCAP’s potential to grow in the years ahead and to continue to deliver strong risk-adjusted returns to our investors.”

    “ONCAP’s successful fundraise is a testament to the team’s formidable track record and strong prospects,” said Bobby Le Blanc, Chief Executive Officer of Onex. “Across all our platforms, our teams are delivering against our objectives, driving fundraising momentum, generating significant return of capital for our investors, and continuing to source high-quality, differentiated investment opportunities.”

    Onex has also been successful in raising capital across its other investment platforms. Within Onex Partners, the Onex Partners Opportunities Fund achieved its final close in January, raising aggregate commitments of approximately $1.2 billion for a two-year investing period, including affiliated vehicles, exceeding its initial target. Onex Credit continues to build on its momentum and has priced or closed eight CLO transactions year-to-date, including three new issues. In total, the team has raised approximately $2.4 billion of fee-generating assets under management year-to-date across its tactical allocation and structured credit strategies.

    About ONCAP

    Founded in 2000, ONCAP is the dedicated lower mid-market private equity platform of Onex Corporation, committed to investing in and partnering with North American headquartered businesses and their management teams in our core sectors of emphasis. Today, ONCAP operates with a team of 39 employees managing $3.5 billion in assets across offices in Toronto and New York. For more information on ONCAP and Onex, visit www.oncap.com and www.onex.com.

    About Onex

    Onex invests and manages capital on behalf of its shareholders and clients across the globe. Formed in 1984, we have a long track record of creating value for our clients and shareholders. Our investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, banks, insurance companies, family offices and high-net-worth individuals. In total, Onex has approximately $51.1 billion in assets under management, of which $8.3 billion is Onex’ own investing capital. With offices in Toronto, New York, New Jersey and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.

    Onex is listed on the Toronto Stock Exchange under the symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedarplus.ca.

    Forward-Looking Statements

    This press release may contain, without limitation, statements concerning possible or assumed future operations, performance or results preceded by, followed by or that include words such as “believes”, “expects”, “potential”, “anticipates”, “estimates”, “intends”, “plans” and words of similar connotation, which would constitute forward-looking statements. Forward-looking statements are not guarantees. The reader should not place undue reliance on forward-looking statements and information because they involve significant and diverse risks and uncertainties that may cause actual operations, performance or results to be materially different from those indicated in these forward-looking statements. Except as may be required by Canadian securities law, Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or other factors. These cautionary statements expressly qualify all forward-looking statements in this press release.

    Non-GAAP Financial Measures

    This press release contains non-GAAP financial measures which have been calculated using methodologies that are not in accordance with IFRS Accounting Standards. The presentation of financial measures in this manner does not have a standardized meaning prescribed under IFRS Accounting Standards and is therefore unlikely to be comparable to similar financial measures presented by other companies. Onex management believes these financial measures provide useful information to investors. Reconciliations of the non-GAAP financial measures to information contained in the consolidated financial statements have been presented where practical.

    For Further Information:

    Jill Homenuk
    Managing Director – Shareholder
    Relations and Communications
    Tel: +1 416.362.7711
    Zev Korman
    Vice President, Shareholder
    Relations and Communications
    Tel: +1 416.362.7711

    The MIL Network

  • MIL-OSI: Oxbridge / SurancePlus to Attend Apex Invest 2025 in Grand Cayman

    Source: GlobeNewswire (MIL-OSI)

    GRAND CAYMAN, Cayman Islands, April 07, 2025 (GLOBE NEWSWIRE) — Oxbridge Re Holdings Limited (Nasdaq: OXBR) (“Oxbridge Re”), together with its subsidiary SurancePlus, is engaged in the tokenization of Real-World Assets (“RWAs”), initially with tokenized reinsurance securities and in providing reinsurance solutions to property and casualty insurers in the Gulf Coast region of the United States. The company today announced its participation in Apex Invest 2025 – Grand Cayman, taking place April 9-11, 2025, at the Hotel Indigo in Grand Cayman.

    Apex Invest 2025 – Grand Cayman

    As a notable investment event in the Caribbean, Apex Invest 2025 brings together over 200 allocators, 100 fund managers and decision-makers from more than 25 countries, including family offices and institutional investors. The summit offers tailored one-on-one meetings, curated matchmaking, networking sessions and content across keynotes, panels and fireside chats.

    Oxbridge and SurancePlus will discuss how they provide access to high-yield investment opportunities backed by real-world assets through the tokenization of reinsurance contracts on the blockchain. These institutional-grade securities open access to a market that has historically been open to only a select few.

    Investors can participate in the SurancePlus offering today, with capital set to deploy into reinsurance contracts starting June 1, 2025. Two tokenized reinsurance investment options are available, each offering a distinct risk-return profile:

    Learn more at SurancePlus.com/invest

    Jay Madhu, CEO of Oxbridge, commented, “We look forward to participating in Apex Invest 2025 right here in our home market of Grand Cayman. This summit fosters the right environment for real conversations and valuable connections with global allocators, family offices and institutional investors. With our SEC-compliant, blockchain-based securities, we are unlocking access to a high-yield asset class that was once limited to a select few.”

    Meet Oxbridge / SurancePlus at Apex Invest 2025 – Grand Cayman

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

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

    About Oxbridge Re Holdings Limited 

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

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

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

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

    Forward-Looking Statements

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

    The MIL Network

  • MIL-OSI: CareCloud to Present at the LD Micro Invitational XV

    Source: GlobeNewswire (MIL-OSI)

    SOMERSET, N.J., April 07, 2025 (GLOBE NEWSWIRE) — CareCloud, Inc. (the “Company”) (Nasdaq: CCLD, CCLDO), a leading provider of practice management, healthcare technology and AI-driven solutions to medical practices across the country, is pleased to announce its participation in the 15th Annual LD Micro Invitational at the Westin Grand Central Hotel in New York on April 9-10, 2025. The Company is scheduled to present on April 10, 2025 at 3:30 p.m. ET.

    CareCloud’s management team will deliver a corporate presentation highlighting the Company’s recent developments, innovative solutions, and strategic growth initiatives. Additionally, the team will participate in one-on-one meetings with institutional and individual investors to explore opportunities and discuss CareCloud’s roadmap for continued growth and value creation.

    “We are excited to highlight CareCloud’s recent milestones, including two recent acquisitions, the conversion of our Series A preferred stock, and our significant profitability growth throughout 2024,” said Stephen Snyder, Co-CEO of CareCloud.

    About LD Micro 

    LD Micro, a wholly owned subsidiary of Freedom US Markets, was founded in 2006 with the sole purpose of being an independent resource in the micro-cap space. Through the LD Micro Index and annual investor conferences, LD has served as an invaluable asset to all those interested in discovering the next generation of great companies. For more information on LD Micro, visit www.ldmicro.com.

    About CareCloud 

    CareCloud brings disciplined innovation and generative AI to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care while reducing administrative burdens and operating costs. Learn more about our products and services including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health at www.carecloud.com. 

    Follow CareCloud on LinkedIn, X and Facebook.

    Disclaimer 

    This press release is for information purposes only, and does not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction. 

    Forward-Looking Statements 

    This press release contains various forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “shall,” “should,” “could”, “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “seeks,” “estimates,” “predicts,” “possible,” “potential,” “target,” or “continue” or the negative of these terms or other comparable terminology. 

    Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct.

    Forward-looking statements in this press release include, without limitation, statements reflecting management’s expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, the impact of pandemics on our financial performance and business activities, and the expected results from the integration of our acquisitions. 

    These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective global operations, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards, compete with other companies’ products and services competitive with ours, and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission. 

    The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. 

    SOURCE CareCloud 

    Company Contact: 
    Norman Roth 
    Interim Chief Financial Officer and Corporate Controller 
    CareCloud, Inc.
    nroth@carecloud.com 

    Investor Contact:
    Stephen Snyder 
    Co-Chief Executive Officer 
    CareCloud, Inc. 
    ir@carecloud.com

    The MIL Network

  • MIL-OSI: Diamond Equity Research Initiates Coverage on Almonty Industries, Inc. (TSX: AII) (ASX: AII) (FWB: ALI) (OTCQX: ALMTF)

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, April 07, 2025 (GLOBE NEWSWIRE) — Diamond Equity Research, a leading equity research firm with a focus on small capitalization public companies has initiated coverage of Almonty Industries, Inc. (TSX: AII) (ASX: AII) (FWB: ALI) (OTCQX: ALMTF). The in-depth 49-page initiation report includes detailed information on the Almonty Industries’ business model, services, industry overview, financials, valuation, management profile, and risks. 

    The full research report is available below.

    Almonty Industries Inc. Initiation of Coverage

    Highlights from the report include:

    • Sangdong Mine Potentially Set to Become the World’s Largest Non-Chinese Tungsten Source: Almonty’s flagship Sangdong Mine in South Korea is poised to transform the global tungsten landscape, with projected output exceeding 40% of non-China supply and 5% of global supply by 2027. In our view, Sangdong is not just Almonty’s crown jewel, but also a cornerstone asset for rebuilding Western tungsten supply chains, given its expected 90+ year mine life and strong by-product upside potential from molybdenum.
    • High-Grade Molybdenum Asset Adds Material Upside from Late 2026: Located just below Sangdong’s skarn horizons, the AKM Molybdenum Project adds meaningful diversification. The project has a maiden inferred resource of 21.5 Mt @ 0.26% MoS₂ and is fully permitted within the existing Sangdong mining lease. A $19/lb floor-price offtake agreement with SeAH M&S de-risks the development and ensures predictable cash flows. Production is targeted for late 2026/early 2027, with an anticipated 60-year mine life based on historical government data.
    • Strong and Visible Cash Flow Backed by Long-Term Contracts: Almonty has secured a 15-year offtake agreement with a floor price of US$235 per MTU, equating to approximately US$580 million in guaranteed revenue over the contract life. This agreement, with no price cap, provides exceptional cash flow visibility and allows Almonty to benefit fully from market upside. The contract emphasizes the credibility of Sangdong as a reliable source of high-grade tungsten and reflects deep buyer confidence in Almonty’s long-term delivery capabilities and quality of asset.
    • Resilient Tungsten and Molybdenum Outlook Driven by Structural Supply Shortages and Rising Strategic Demand: Tungsten and molybdenum markets are experiencing sustained upward pricing pressure due to structural supply constraints, geopolitical export restrictions, and robust industrial demand. Tungsten prices have rebounded strongly, with APT reaching near-decade highs. Similarly, molybdenum prices surged to historical peaks ($40/lb in early 2023) due to critically low global inventories and supply disruptions. Given limited substitution possibilities, rising applications in defense, aerospace, infrastructure, and clean energy technologies, we believe these market dynamics could support elevated tungsten and molybdenum prices, benefiting producers like Almonty.
    • Critical Material Status, Export Bans, and NATO Mandates Drive Demand Shift: Tungsten has been designated a critical raw material by the U.S., EU, Australia, Canada, and South Korea due to its high economic importance and supply risk. The U.S. Department of Defense will ban Chinese, Russian, North Korean, and Iranian tungsten for military procurement starting in 2027, while the EU has extended anti-dumping tariffs on Chinese tungsten carbide. Almonty’s Portuguese material is already commanding premiums of over 15% as Western buyers prioritize ESG-aligned sources. China’s own export controls on tungsten and molybdenum, effective February 2025, further restrict global access. In our view, these developments create a powerful structural tailwind for Western-aligned producers like Almonty.
    • Proven Operational Track Record and Industry Trust Anchor the Business Model: Almonty has a 128-year history in tungsten mining and previously sold operations for 21x earnings during the 2007 supply squeeze. Its Panasqueira Mine in Portugal has been producing for over a century, while the Los Santos Mine is scheduled to restart in 2026. Management has consistently met all development milestones, raised AUD 18.45 million in 2024, and continues to co-invest alongside shareholders. We view this track record as a major differentiator, supporting the company’s ability to win contracts, secure financing, and execute on scale.
    • Valuation: Almonty Inc. presents a unique investment opportunity, offering exposure to a portfolio of high-grade tungsten and molybdenum assets with clear near-term production visibility. Key upcoming milestones, including the commencement of production at the Sangdong tungsten and molybdenum projects, downstream processing initiatives, and the Panasqueira expansion opportunity, are expected to potentially drive meaningful growth in revenues and profitability. Furthermore, the company operates in a low-risk, transparent jurisdiction and has secured long-term offtake agreements with global partners, providing additional stability and cash flow visibility. We have applied a Net Present Value (NPV) valuation using a Discounted Cash Flow (DCF) approach, incorporating expected production volumes, life-of-mine estimates, throughput capacities, ore grades, recovery rates, and commodity price forecasts. Using an 8% discount rate, we arrive at a valuation of C$4.00 per share, contingent on successful execution by the company.

    About Almonty Industries, Inc.  

    Almonty Industries Inc. is a global leader in tungsten mining, with strategically positioned assets in geopolitically stable regions including South Korea, Portugal, and Spain. The company is set to become the largest tungsten producer outside China upon the commissioning of its flagship Sangdong Mine. 

    About Diamond Equity Research

    Diamond Equity Research is a leading equity research and corporate access firm focused on small capitalization companies. Diamond Equity Research is an approved sell-side provider on major institutional investor platforms.

    For more information, visit https://www.diamondequityresearch.com.

    Disclosures:

    Diamond Equity Research LLC is being compensated by Almonty Industries, Inc. for producing research materials regarding Almonty Industries, Inc. and its securities, which is meant to subsidize the high cost of creating the report and monitoring the security, however the views in the report reflect that of Diamond Equity Research. All payments are received upfront and are billed for research engagement. As of 04/07/25 the issuer had paid us $50,000 for our company sponsored research services, which commenced 03/07/2025 and is billed annually. Diamond Equity Research LLC may be compensated for non-research related services, including presenting at Diamond Equity Research investment conferences, press releases and other additional services. The non-research related service cost is dependent on the company, but usually do not exceed $5,000. The issuer has not paid us for non-research related services as of 04/07/2025. Issuers are not required to engage us for these additional services. Additional fees may have accrued since then. Although Diamond Equity Research company sponsored reports are based on publicly available information and although no investment recommendations are made within our company sponsored research reports, given the small capitalization nature of the companies we cover we have adopted an internal trading procedure around the public companies by whom we are engaged, with investors able to find such policy on our website public disclosures page. This report and press release do not consider individual circumstances and does not take into consideration individual investor preferences. Statements within this report may constitute forward-looking statements, these statements involve many risk factors and general uncertainties around the business, industry, and macroeconomic environment. Investors need to be aware of the high degree of risk in small capitalization equities, including the complete loss of their investment. This report does not explicitly or implicitly affirm that the information contained within this document is accurate and/or comprehensive, and as such should not be relied on in such a capacity. All information contained within this report is subject to change without any formal or other notice provided. Investors can find various risk factors in the initiation report and in the respective financial filings for Almonty Industries, Inc. Please review initiation report attached for full disclosure page.  

    Contact:
    Diamond Equity Research
    research@diamondequityresearch.com

    Attachment

    The MIL Network

  • MIL-OSI United Kingdom: Value for money in pre-arranged financing for disasters

    Source: United Kingdom – Executive Government & Departments

    News story

    Value for money in pre-arranged financing for disasters

    A GAD actuary has co-authored a guidance note to help countries and organisations assess value for money when using pre-arranged financing for disasters.

    Credit: Shutterstock

    Countries and organisations seek to set up financing ahead of disasters. This involves understanding which solution or product presents the best value for money (VfM).

    The report Assessing value for money in pre-arranged financing for disasters: a practical framework has been published by the Centre for Disaster Protection and co-written by a GAD actuary.

    Preparing for disasters

    This guidance note has been developed to help countries and organisations considering or using pre-arranged financing instruments through the process of assessing if a particular instrument or combination of instruments offers the best value for money.

    Pre-arranged financing (PAF) is set up before a disaster and involves committing funding and preparing response plans before disasters occur. As financing is in place before a disaster, it ensures funding is available to reach affected people once an event occurs.  

    Assessing value for money

    The report is drawn from the work of the Centre for Disaster Protection over the past 5 years, and is aimed at organisations or countries which are looking to:

    • set up new PAF instruments
    • improve the design of existing PAF instruments
    • understand the optimal combination of financial instruments needed to manage the risks they face

    The report provides an overview of VfM analysis. It shows how it is a useful tool to inform decision making and demonstrate the potential effectiveness of new financial approaches compared to existing methods of financing disaster response. The report also presents a flexible 7-step framework for approaching VfM analysis in this context, supplemented by case studies and examples.

    Credit: iStock Photo

    Who’s it for?

    The research sets out which organisations may benefit from undertaking VfM assessments in relation to PAF. They include:

    • national governments
    • donor agencies
    • humanitarian agencies and NGOs
    • risk finance providers
    • multilateral development banks / multi-donor funds

    Process and content

    GAD’s Head of Climate and Disaster Risk Georgi Bedenham co-authored the report. She said: “We developed a 7-step framework to encourage governments and organisations to consider a range of aspects of VfM. It is intended as a guide to support anyone designing, commissioning and conducting VfM assessments.

    “We have also provided a useful set of guiding questions at each stage to help the reader work their way through the process.”

    Updates to this page

    Published 7 April 2025

    MIL OSI United Kingdom

  • MIL-OSI: P10 Completes Acquisition of Qualitas Funds, a Leading European Lower-Middle Market Alternative Investment Solutions Provider

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, April 07, 2025 (GLOBE NEWSWIRE) — P10, Inc. (NYSE: PX) (“P10” or the “Company”), a leading private markets solutions provider, today announced it has completed its previously announced acquisition of Qualitas Equity Funds SGEIC, S.A. (“Qualitas Funds”) for an initial purchase price of $63 million, with the potential for additional earnout consideration.

    Qualitas Funds is a Madrid-based private equity investing platform that provides fund-of-funds, direct co-investing and NAV financing opportunities in the European lower-middle market to more than 1,300 limited partners across the ultra-high-net-worth (UHNW), family office, and institutional channels. The firm has approximately $1 billion in fee-paying assets under management (FPAUM) and a strong expected growth trajectory. The firm was founded in 2015 by co-founders and co-managing partners, Eric Halverson and Sergio Garcia.

    “Today, P10 significantly expands our global presence through closing the acquisition of Qualitas Funds,” said Luke Sarsfield, P10 Chairman and Chief Executive Officer. “Eric, Sergio, and the entire Qualitas Funds team have established a strong track record of performance that is complementary to P10’s platform, and we are excited to build upon this foundation as we expand into Europe. I look forward to integrating our client-centric cultures, as we work together to unlock access-constrained investment opportunities in the middle and lower-middle markets for our global client base.”

    “After working alongside P10’s strategy leaders for over a decade, we are pleased to officially become a part of this best-in-class firm,” said Halverson and García. “We look forward to collaborating with the P10 team and positively contributing to the platform’s international expansion. P10’s deep private markets expertise will accelerate our progress as we seek to launch additional strategies and vehicles that can provide our clients attractive exposure to the global middle and lower-middle markets.”

    About P10
    P10 is a leading multi-asset class private markets solutions provider in the alternative asset management industry. P10’s mission is to provide its investors differentiated access to a broad set of investment solutions that address their diverse investment needs within private markets. As of December 31, 2024, P10’s products have a global investor base of more than 3,800 investors across 50 states, 60 countries, and six continents, which includes some of the world’s largest pension funds, endowments, foundations, corporate pensions, and financial institutions. Visit www.p10alts.com.

    About Qualitas Funds
    Qualitas Funds is a Madrid-based private markets investing platform that provides fund-of-funds and direct co-investing opportunities in the lower-middle market to more than 1,300 limited partners across the UHNW, family office, and institutional channels. As of December 31, 2024, the firm has approximately $1 billion in fee-paying assets under management. Visit www.qualitasfunds.com.

    P10 Investor Contact:
    info@p10alts.com

    P10 Media Contact:
    Josh Clarkson
    Taylor Donahue
    jclarkson@prosek.com

    Forward-Looking Statements
    Some of the statements in this release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Words such as “will,” “expect,” “believe,” “estimate,” “continue,” “anticipate,” “intend,” “plan” and similar expressions are intended to identify these forward-looking statements. Forward-looking statements discuss management’s current expectations and projections relating to our financial position, results of operations, plans, objectives, future performance, and business. The inclusion of any forward-looking information in this release should not be regarded as a representation that the future plans, estimates, or expectations contemplated will be achieved. Forward-looking statements reflect management’s current plans, estimates, and expectations, and are inherently uncertain. All forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors that may cause actual results to be materially different; global and domestic market and business conditions; successful execution of business and growth strategies and regulatory factors relevant to our business; changes in our tax status; our ability to maintain our fee structure; our ability to attract and retain key employees; our ability to manage our obligations under our debt agreements; our ability to make acquisitions and successfully integrate the businesses we acquire; assumptions relating to our operations, financial results, financial condition, business prospects and growth strategy; and our ability to manage the effects of events outside of our control. The foregoing list of factors is not exhaustive. For more information regarding these risks and uncertainties as well as additional risks that we face, you should refer to the “Risk Factors” included in our annual report on Form 10-K for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (“SEC”) on February 28, 2025, and in our subsequent reports filed from time to time with the SEC. The forward-looking statements included in this release are made only as of the date hereof. We undertake no obligation to update or revise any forward-looking statement as a result of new information or future events, except as otherwise required by law.

    Key Financial & Operating Metrics
    Fee-paying assets under management reflects the assets from which we earn management and advisory fees. Our vehicles typically earn management and advisory fees based on committed capital, and in certain cases, net invested capital, depending on the fee terms. Management and advisory fees based on committed capital are not affected by market appreciation or depreciation.

    The MIL Network

  • MIL-OSI Europe: VATICAN – A study day on subsidies for new particular Churches at the Pontifical Urbaniana University

    Source: Agenzia Fides – MIL OSI

    Vatican City (Agenzia Fides) – Subsidies and financial autonomy of the Churches subject to the Dicastery for Evangelization will be the focus of a study day of shared reflections and insights to be held on Tuesday, April 8, at the Pontifical Urbaniana University, on the occasion of the IV Day of the “Velasio De Paolis” Chair, named after the Scalabrinian Cardinal Velasio De Paolis, authoritative canonist, who died in 2017.Based on Article 65 of the Apostolic Constitution Praedicate Evangelium and in light of the economic difficulties facing missionary activities, the focus of the morning will be to illustrate the financial support and subsidies provided to the Churches subject to the Dicastery for Evangelization.Archbishop Fortunatus Nwachukwu, Secretary of the Dicastery for Evangelization (Section for the First Evangelization and the New Particular Churches) and Vice-Grand Chancellor of the Pontifical Urbaniana University, will moderate and preside over the event, which begins at 9:00 a.m.Professor Vincenzo Buonomo, Grand Rector of the Pontifical Urbaniana University, will open the study day, while Professor Andrea D’Auria, Dean of the Faculty of Canon Law, will deliver the introduction. Father Tadeusz J. Nowak (OMI), Secretary General of the Pontifical Society for the Propagation of the Faith, will delve deeper into the morning’s theme by highlighting what it means to accompany local Churches on their path to financial autonomy, while Sister Roberta Tremarelli (AMSS), who works in the administration of the Pontifical Mission Societies, will address the importance of control bodies to monitor the use of resources and the quality of investments. The concluding lecture by Prof. Yawovi Jean Attila will outline the critical issues surrounding the financial autonomy of some Churches. The study day is aimed particularly at representatives of the administration of dioceses and religious institutes, administrators of church property and assets, ordinary bishops and superiors of religious communities, priests, religious, and students of canon law. The study day, which can also be attended online, is organized by the Faculty of Canon Law of the Pontifical University. (EG) (Agenzia Fides, 7/4/2025)

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    MIL OSI Europe News

  • MIL-OSI: Top 10 New Tokens on MEXC Average 4,770% Growth in March

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, April 07, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency exchange, has released the latest information on the performance of trading operations on the platform, highlighting new milestones and delivering invaluable insights into overall market trends. The dynamics of the BSC ecosystem and specific actions taken by MEXC have allowed average prices on top tokens to excel by thousands of percent, and user numbers to swell, underscoring the importance of new instruments and sectors on general market traction.

    Key Takeaways:

    • MEXC listed 129 new tokens in March, 42 of them hosted by the BSC ecosystem;
    • Average price of the top 5 trending tokens on BSC overstepped by 3,760%;
    • Top 10 new tokens achieved an average pricing of 4,770% in March, up fourfold from January and February;
    • MEXC introduced the 0% trading fees for SOL, HYPE, AAVE, and AIXBT, boosting user numbers by 17.8% month-over-month, and trading volume by 170%.
    • Among the top 10 new tokens in March, meme tokens made up half of March’s top 10 spots defying the recent downturn in the sector.

    MEXC started March with news of listing 129 new tokens, 42 of which were hosted on the BSC ecosystem. The given number accounts for 32.6% of overall trading, highlighting the importance of the BSC for MEXC and the degree of the exchange’s penetration and integration with the ecosystem. Total spot trading for new tokens accounted for 50.8%, rising by 30.1% month-over-month. Overall trading volume spiked by 56.6%, up by 63.5% compared to February. These dynamics indicate that users are resorting to MEXC as a preferred venue for trading BSC-hosted tokens.

    The BSC ecosystem took a leading role in the surge, with top 5 trending tokens reaching an average price increase of 3,760%. The uptrend was driven by MUBARAK, BUBB, and TUT, with 10,900%, 4,168%, and 2,000%, respectively. At the same time, the top 10 new tokens showcased an average price increase of 4,770%, up from 1,174% for the same token category in January and February. MEME tokens took up half of the leaders’ pedestal, with assets from the Infra, AI, and DePIN sectors taking up the remaining spots.

    MEXC confirmed its position as a leader across multiple sectors of crypto asset trading, further solidifying its commitment to trading excellence by introducing the 0% Trading Fees Campaign. The action encompassed such pairs as SOL/USDT, HYPE/USDT, AAVE/USDT, and AIXBT/USDT. The campaign has already proven its effectiveness, with the number of traders of zero-fee pairs growing by 17.8% month-over-month, contributing to an overall 170.2% increase in trading volume. SOL/USDT trading pair led with an 186% increase in daily average trading volume and a 209% rise in market share (from 9.8% to 30.3%). RAY/USDT followed with a 27.8% share, while HBAR/USDT and HYPE/USDT rose by 115% and 165%, reaching 18.8% and 13.3% market share, respectively.

    The general downturn in the crypto market throughout March of 2025 did not hinder MEXC from continuing to solidify its position as a leader in terms of trading volume growth. The exchange is taking a significant role in the ongoing expansion of the BSC ecosystem, which contributes new tokens to traders. MEXC is committed to remaining a market leader and delivering world-class service to traders at low trading costs with a broad array of innovations and lucrative trading opportunities.

    About MEXC

    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 34 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

    MEXC Official Website| X | TelegramHow to Sign Up on MEXC

    For media inquiries, please contact MEXC PR Manager Lucia Hu: lucia.hu@mexc.com

    Source

    Disclaimer: This press release is provided by MEXC. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Speculate only with funds that you can afford to lose.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. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/6ed0e8d8-7261-4bb6-b5cf-240c564d5ba5

    The MIL Network

  • MIL-OSI Economics: UK consumers to shell out GBP2.3 billion on Easter, reveals GlobalData

    Source: GlobalData

    UK consumers to shell out GBP2.3 billion on Easter, reveals GlobalData

    Posted in Retail

    Over 40% of UK Easter shoppers have reported that they intend to spend more this year, leading to a projected total expenditure of GBP2.3 billion. This surge in spending will be driven primarily by food & drink and luxury Easter eggs purchases. With Easter falling on 20 April 2025, three weeks later than last year, retailers should prepare by promoting alcoholic beverages and outdoor furniture amid the potential for a warmer Easter bank holiday weekend. This focus will further encourage consumers to engage in outdoor activities and social gatherings, according to, says GlobalData, a leading data analytics company.

    GlobalData’s latest UK Easter Intentions report reveals that Easter remains an important event for consumers, with shoppers planning to spend an average of GBP124.75–GBP12.35 more than last year. Food & drink and gifting are expected to dominate spending, accounting for over 70% of shoppers’ Easter budgets. Purchases of luxury Easter eggs will boost gifting sales, with 46% of Easter gifting shoppers planning to buy these items this year.

    Aliyah Siddika, Associate Retail Analyst at GlobalData comments: “The UK consumers’ growing preference for luxury Easter eggs is strengthening year-on-year. The appeal of quality over quantity is driving this trend as luxury Easter eggs are more appealing to shoppers as they feature unique flavors and designs. Marks & Spencer is successfully capitalizing on this preference ahead of the event, with its ‘Scrummy Bunny Munch Loaded Egg’, priced at GBP12.00, which is filled with treats such as pretzels and popcorn. This unique offering caters to those shoppers seeking an alternative to the traditional milk chocolate Easter egg.”

    37% of consumers with children agree that they “plan to do more Easter-related activities this year”, an 8ppt increase on 2024. This enthusiasm by parents to seek out activity-based products to mark the occasion is expected to boost spending ahead of the event.

    Siddika continues: “While parents are eager to celebrate Easter with their families, they are also feeling the financial pinch and will be more selective about their spending. This creates an opportunity for retailers to offer products that not only enhance the Easter experience but also provide value for money.”

    Retailers must focus on Easter products that emphasise family time, such as DIY Easter craft kits, baking kits and at-home Easter egg hunts to encourage spending from parents of young children.

    Siddika concludes: “The later date of Easter this year presents an extended opportunity for retailers to build momentum for the occasion. To keep shoppers engaged, retailers should reserve limited-time discounts and bundle deals for the week of Easter. Hosting Easter-themed events, such as instore egg hunts, crafting workshops, or cooking demonstrations closer to the occasion will also help to attract families and encourage impulse purchases.”

    MIL OSI Economics

  • MIL-OSI Economics: Australia card payments market to grow at 6.3% in 2025, forecasts GlobalData

    Source: GlobalData

    Australia card payments market to grow at 6.3% in 2025, forecasts GlobalData

    Posted in Banking

    The Australian card payments market is projected to reach AUD1.1 trillion ($726.4 billion) in 2025e, growing at 6.3% compared to the previous year. This growth is driven by the rising consumer spending and increasing consumer preference for cashless transactions, reveals GlobalData, a leading data and analytics company.

    GlobalData’s report, “Australia Cards and Payments: Opportunities and Risks to 2028,” reveals that card payment value in Australia registered a growth of 7.2% in 2024, supported by nearly 100% banked population and strong payment acceptance infrastructure. The value grew further to register an estimated growth of 6.3% in 2025 to reach AUD1.1 trillion ($726.4 billion).

    Poornima Chinta, Senior Banking and Payments Analyst at GlobalData, comments: “Australia’s payment card market is well developed with each individual holding over two cards along with the highest frequency of card payments in the Asia-Pacific region, which stands at 238 in 2024. Widespread adoption of contactless payments, growing preference for electronic payments, and the burgeoning ecommerce market are all contributing to this growth.

    A well-developed payment infrastructure, with strong POS terminal uptake, is also a major driver for the rise in card payments. The number of POS terminals per one million inhabitants in Australia rose from 36,012 in 2020 to 40,046 in 2025. In addition to the traditional POS terminals, companies are offering POS solutions designed to target SMEs. For instance, Fiserv launched its Clover POS solution in March 2025, specially targeting SMEs operating in the hospitality, service, and retail sectors.

    Debit card payments held a significant share of the total card payments market, accounting for 58.9% in the total payment value in 2024. The growing popularity of debit cards can be attributed to their convenience and the increasing consumer inclination towards budgeting and managing expense.

    Credit and charge cards, on the other hand, accounted for the remaining 41.1% share in value in 2024. Consumer reluctance towards taking credit-card debt and the growing uptake of BNPL solutions such as Afterpay and Klarna are posing a threat to the credit and charge card market.

    Contactless cards are also widely used in Australia with strong penetration and awareness. Australian consumers and financial institutions alike have embraced the technology, with extensive acceptance infrastructure in the country being the major reason why these cards are so popular.

    According to GlobalData’s 2024 Financial Services Consumer Survey*, 77% of the respondents in Australia indicated having access to a contactless card and used it for payments.

    Chinta concludes: “The Australian card payments market is expected to continue its upward growth trajectory driven by the convenience of electronic payments, widespread payment infrastructure, and the increased accessibility of contactless technology. The card payments market is anticipated to increase at a compound annual growth rate of 5.2% between 2025 and 2029 to reach AUD1.4 trillion ($924.4 billion) in 2029.”

    *GlobalData’s 2024 Financial Services Consumer Survey was carried out in Q2 2024. Approximately 67,292 respondents aged 18+ were surveyed across 41 countries.

    MIL OSI Economics

  • MIL-OSI Africa: Budget 2025 vital for economic growth and poverty alleviation

    Source: South Africa News Agency

    In his weekly newsletter, President Cyril Ramaphosa has emphasised the crucial role of the 2025 Fiscal Framework and Revenue Proposals, which were recently passed by Parliament, in driving economic growth and relieving the effects of poverty.

    The budget – tabled by Finance Minister Enoch Godongwana in Parliament last month – was passed by Parliament last week.

    “The 2025 Budget is directed at growing the economy and supporting the livelihoods of our people.

    “It is a critical instrument to drive development, eradicate poverty and narrow inequality. At a time of constrained economic growth and narrow fiscal space, the budget must direct sufficient resources to activities that encourage inclusive growth and lay the groundwork for sustained economic recovery.

    “It reflects the strategic priorities of the Government of National Unity: inclusive growth and job creation, reducing poverty and tackling the high cost of living and building a capable, ethical and developmental state,” he said.

    Uplifting the nation

    The budget has a strong focus on the social wage with 61% of resources directed at, amongst others, healthcare, education, housing and social grants.

    “Over the past 24 years we have implemented an indigent policy under which free water, electricity and sanitation services are provided to qualifying households.

    “Social grants, like the childcare, old age and disability grants, are another tool for alleviating poverty. This year, the value of these grants will increase at above inflation. The Social Relief of Distress grant, which has played an important role in poverty alleviation, will also be extended for another year,” President Ramaphosa said.

    As part of improving access to healthcare, the President said there will be a higher allocation of funding to clinics and community health centres. 

    He said government is investing in the recruitment and retention of health personnel, particularly doctors and nurses, and to employ newly qualified doctors after their community service ends. 

    The budget also allocates substantial funding to “other frontline services such as teachers, police, emergency personnel and the Border Management Authority”.

    “Improving educational outcomes is key to community upliftment, development and producing the skills needed by our economy. Budgetary allocations have been made to support teacher training, for expanded mother-tongue bilingual education and for early reading programmes. 

    “This year sees a substantial investment in early childhood development, reflecting our commitment to establishing a solid foundation for the development of every child,” the President added.

    Funding for public employment programmes and to support small businesses has also been allocated.

    Driving growth

    President Ramaphosa noted sustaining expenditure on the social wage requires “higher levels of economic growth”.

    “The budget allocates considerable resources to encourage infrastructure development, which drives growth and job creation.

    “Taken together, up to R1 trillion will be spent on infrastructure over the medium term. This includes the allocation in this budget of an additional R62 billion over the next three years for road maintenance, electricity transmission lines, water and sanitation projects, school infrastructure and to support the ongoing recovery of our rail networks.

    “Support is also provided to other growth enhancing measures in the medium term, including incentive programmes in automotive, business process outsourcing, special economic zones, electric vehicle production, clothing and textiles, and other sectors,” he said.

    South Africa’s municipalities will also receive adjusted budget allocations to help them address infrastructure needs and improve service delivery.

    “In a challenging economic environment – both locally and globally – this year’s budget supports measures to drive growth and relieve the effects of poverty. At the same time, it aims to stabilise public finances and continue to reduce our national debt.

    “The budget reflects the priorities of Government’s Medium Term Development Plan, a five-year programme of action that prioritises rapid, inclusive growth, creating a more just society and building state capacity.

    “At a time when our singular focus must be the South African people, we need to use the limited resources we have to work together for the common good,” President Ramaphosa concluded. – SAnews.gov.za

    MIL OSI Africa

  • MIL-OSI Africa: KZN government calls for deeper collaboration with Black business

    Source: South Africa News Agency

    KwaZulu-Natal Premier Thamsanqa Ntuli has called for deeper collaboration between government and Black business.

    Ntuli made the call at the Diamond Jubilee Celebration of the National Federated Chamber of Commerce and Industry (NAFCOC) held at Inkosi Albert Luthuli International Convention Centre on Friday.

    The event reflected on six decades of dedicated work toward the economic empowerment of African businesses and ongoing economic transformation.

    In his address, the Premier hailed the organisation’s historic and ongoing role in empowering Black entrepreneurs and advancing inclusive economic transformation across South Africa.

    “For over six decades, NAFCOC has been the enduring voice of Black business, even during the darkest days of apartheid. Today, we recognise the many men and women who, with NAFCOC’s support, have broken through barriers, and now play influential roles across both public and private sectors,” Ntuli said.

    The high profile event was attended by President Cyril Ramaphosa, His Majesty King Misuzulu kaZwelithini, national and provincial government leaders, business stakeholders, and NAFCOC executives.

    Ntuli described the NAFCOC Diamond Jubilee as “a celebration of resilience, vision and the power of unity”.

    He congratulated the organisation and called for continued joint action in building an inclusive and prosperous KwaZulu-Natal.

    The Premier used the occasion to reflect on NAFCOC’s legacy, while looking forward to a new era of economic partnership and shared growth.

    Ntuli outlined a bold five-year plan for the province, focused on rebuilding the economy; strengthening governance; advancing sustainable development; improving healthcare, education, and infrastructure; promoting community safety; mitigating climate change, and building a capable and ethical State.

    Ntuli invited NAFCOC to be a central partner in driving this agenda.

    “We cannot succeed without business playing its part. Our job as government is to clear bottlenecks and unlock opportunities, particularly in the township and rural economies, which are critical to achieving true economic freedom,” Ntuli said.

    Ntuli also announced a renewed push to attract investment and accelerate industrialisation through the Special Economic Zones in Richards Bay and at the Dube Trade Port.

    He said a revised Provincial Integrated Trade and Investment Strategy will guide this work, alongside stronger air connectivity and expanded tourism and export markets.

    The Premier also commended recent efforts by the South African Police Service, led by Provincial Commissioner Lieutenant General Nhlanhla Mkhwanazi, to clamp down on organised crime.

    “A safe province is essential for a thriving economy,” he said, pledging an improved coordination between law enforcement and business stakeholders.

    The celebration also included a keynote memorial lecture in honour of NAFCOC founding leader Dr Sam Motsuenyane, delivered by African National Congress Treasurer General, Dr Gwen Ramokgopa. – SAnews.gov.za

    MIL OSI Africa

  • MIL-OSI United Kingdom: Government launches call for evidence to break down barriers to opportunity at work

    Source: United Kingdom – Executive Government & Departments

    Press release

    Government launches call for evidence to break down barriers to opportunity at work

    A new call for evidence [launched today] will enable business, trade unions and civil society to shape action helping everyone, no matter their background, to thrive under the government’s Plan for Change.

    Responses will support consideration of a range of areas, including steps to make the right to equal pay effective for women, people from ethnic minority groups, and disabled people.

    This call for evidence is one of several exercises which will help shape the measures included in the draft Equality (Race and Disability) Bill which will be published this session. This follows the recently launched mandatory ethnicity and disability pay gap reporting consultation, which closes on 10 June.

    Minister for Equalities, responsible for race and ethnicity policy, Seema Malhotra MP said:

    I am pleased to announce the launch of a call for evidence on equality law, an important step in this government’s Plan for Change.

    Our goal is to understand how we can better remove barriers to opportunity and boost household incomes across the country so people can achieve according to their talents, irrespective of their backgrounds.

    The government wants to hear from anyone with relevant evidence – from expert bodies, employers, disabled people’s organisations and civil society to trade unions, public authorities and those with expertise by experience – on a number of areas of equality policy, including:

    1. the prevalence of pay discrimination on the basis of race and disability
    2. making the right to equal pay effective for ethnic minority and disabled people
    3. measures to ensure that outsourcing of services can no longer be used by employers to avoid paying equal pay
    4. improving the enforcement of equal pay rights by establishing an Equal Pay Regulatory and Enforcement Unit, with the involvement of trade unions
    5. improving pay transparency
    6. strengthening protections against combined discrimination
    7. ensuring the Public Sector Equality Duty (PSED) is met by all parties exercising public functions
    8. creating and maintaining workplaces and working conditions free from sexual harassment for all
    9. commencing the socio-economic duty

    This will make sure policies are shaped by a range of expertise and help open opportunities to all.

    Minister for Social Security and Disability, Stephen Timms MP said:

    I’m proud to support this call for evidence, which will help inform the Equality (Race and Disability) Bill in line with the government’s manifesto commitment to put disabled people’s views and voices at the heart of all we do.

    I encourage people to take part and help shape plans that boost individual opportunity for disabled people, increase household incomes and support businesses in employing the best person for the job.

    The call for evidence will run for 12 weeks and end on 30 June 2025. It will ensure we break down barriers to opportunity and drive up household income for everyone,  making work pay in an economy where everyone can succeed.

    British Sign Language (BSL) version of this press release

    ## Government launches call for evidence to break down barriers to opportunity at work (BSL)

    Notes to editors:

    Please see quotes from key stakeholders below:

    Founder of Small Business Britain and Adviser to government’s Board of Trade, Michelle Ovens CBE, said:

    We welcome the government’s approach to the road ahead for the UK – the focus on breaking down barriers that have historically held people back, especially during a long and economically difficult few years, is extremely important. We know that for example a third of disabled business owners choose entrepreneurship due to the fact that workplaces are not equitable. Choice and opportunity should be accessible to all, and we look forward to collaborating closely on opening up pathways into work.

    Chief People and Inclusion Officer at the Co-op, Claire Costello, said:

    For the Co-op promoting equality is fundamental to how we do business. We believe it’s the right thing to do and a way to promote economic growth. Our Social Mobility campaign has focused on the impact we believe socioeconomic background can have on individual life chances.

    15 years on from the introduction of the Equality Act in 2010, we welcome this call for evidence as an opportunity to consider what more as a society we must all do.  This is an important moment for everyone to contribute and ensure that whoever you are and wherever you’re from doesn’t determine what you can become.

    Chief Executive Officer of the Chartered Management Institute (CMI), Ann Francke OBE, said:

    This is a welcome step in improving conditions for people working across the UK economy, breaking down barriers and creating workplaces where everyone can thrive.

    CMI welcomes the government’s collaborative approach in working alongside employers to get this right. The key will be ensuring that leaders and managers have the skills they need to deliver inclusive workplaces that treat individuals fairly and deliver better outcomes.

    CMI’s report on the subject, Filling in the Gaps, found that those firms that do the work of tackling inequality in their ranks retain their talent and deliver for their shareholders.

    We look forward to working closely with the government to ensure managers and leaders are equipped with the skills they need to navigate these important pieces of legislation.

    Chief Executive at the Chartered Institute of Personnel and Development, Peter Cheese, said:

    Strong equality policies are key to a resilient economy, benefiting both employers and employees in a changing labour market. We welcome the UK government’s call for evidence on its equalities reform programme to shape equality law and help build fair, inclusive workplaces where everyone can thrive. By working together, we can develop evidence-based reforms that can drive performance and enhance equality of outcomes for all.

    Strategic Advisor at Jaguar Landrover, Barbara Bergmeier, said:

    JLR is focused on making JLR an even more rewarding and fulfilling place to work for everyone. We are taking positive steps in the right direction and are committed to open and transparent pay gap reporting but there is more to do. We welcome the government’s willingness to engage with business on this important topic so we can continue to make progress and break down barriers.

    Head of Purpose at KERB Food, Priya Narain, said:

    At KERB, we recognise the critical need to tackle harassment within the hospitality industry, where team members, particularly women and those from underrepresented backgrounds, often face unique vulnerabilities due to the nature of customer-facing roles. We welcome the Office for Equality and Opportunity’’s focus on strengthening protections against third-party harassment and exploring measures to ensure all employees, including interns and volunteers, are safeguarded.

    Through our initiatives, including enhanced training, clear reporting pathways, and our commitment to the Women’s Night Safety Charter, we have seen firsthand the importance of proactive employer-led action. However, to drive meaningful sector-wide change, it is essential that businesses are equipped with clear, practical guidance on their responsibilities and that employees have confidence in the protections available to them.

    We fully support this call for evidence as a necessary step in shaping policy that is both effective and workable for businesses and employees alike. We look forward to contributing our insights and continuing to engage with policymakers to ensure hospitality is a safer and more inclusive industry for all.

    Race Equality Director at Business in the Community, Sandra Kerr CBE, said:

    I am delighted that the Government has launched its consultation into ethnicity and disability pay gap reporting, with the intention to introduce mandatory reporting for all large businesses. Business in the Community has been campaigning for mandatory ethnicity pay gap reporting for many years because we believe that all employees should be entitled to fair and equal pay and opportunities for progression. Having seen the successes of gender pay gap reporting for businesses and employees across the UK, I hope that these successes can be used to shape the implementation of ethnicity and disability pay gap reporting. It is also encouraging to see that the Government is looking to address the barriers faced by those experiencing combined discrimination, based on a combination of protected characteristics. It is critical that government and business work together to make sure these laws work for everyone, so that we can break down these barriers to opportunity once and for all and ensure that no one is left behind.

    Updates to this page

    Published 7 April 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: City of Derry Jazz Festival announces EY sponsorship

    Source: Northern Ireland – City of Derry

    City of Derry Jazz Festival announces EY sponsorship

    7 April 2025

    St Columb’s Hall will play host to an international medley of talent next month, with the announcement today of the fabulous EY Jazz Lounge on Saturday 3rd and Sunday 4th May.

    The evenings are being supported by leading professional services company EY as part of an exciting sponsorship arrangement with Derry City and Strabane District Council, following the announcement of the company’s selection of Ebrington Plaza as the location for its new North West office.

    The late-night EY Jazz Lounge will bring together some of the most renowned musicians in the world of jazz, led by local jazz legend Paul McIntyre. The line-up features Curtis Efoua Ela (France) drums, Brian Questa (USA) drums and Phil Robson (UK) guitar as well as special guest vocalist Winne Ama.

    The intimate gigs are a highlight of a packed programme of events taking place throughout the City of Derry Jazz and Big Band Festival, which this year runs from Thursday May 01 – Monday May 05.

    Council’s Head of Culture, Aeidin McCarter said she was delighted to welcome EY on board for the festival. “The Jazz Festival is one of the city’s flagship events which is vitally important for the local business community and of course the local economy. So I’m delighted that EY are showing their support with this fantastic music showcase event – the perfect way to end an evening on the Jazz Trail.

    “As a Council we can take the lead in delivering festivals and events that will enhance the visitor experience here, but we rely very much on the support and good will of our local businesses to really deliver something exceptional. I look forward to working with EY as event partners and I think it’s fantastic that the company is showing its support for the city, and helping to build our profile as a vibrant and exciting visitor destination.”

    Aoife Warren, EY UKI Consulting Partner, said: “EY Northern Ireland is delighted to support the City of Derry Jazz and Big Band Festival. Following the announcement of our newest office location in Northern Ireland in Ebrington Plaza, we are delighted to have the opportunity to collaborate with Derry City and Strabane District Council to support the vibrant cultural opportunities that the fantastic City of Derry Jazz Festival brings to the region. At EY, we are proud to support the arts community and we look forward to a weekend of great live music and entertainment.”

    This year’s City of Derry Jazz Festival marks 24 years of Ireland’s biggest Jazz extravaganza, and final preparations are now well underway to deliver an unsurpassable programme brimming with the very best home grown and international talent. Over 400 performances will take place over five days, with live music on every stage and street corner.

    The City of Derry Jazz and Big Band Festival is organised and funded by Derry City and Strabane District Council with support from Diageo and EY. 

    Tickets for the EY Jazz Lounge, taking place on Saturday 3rd and Sunday 4th May at 11pm, are priced £10 and are available to buy online at www.cityofderryjazzfestival.com/tickets. For regular updates follow the City of Derry Jazz Festival on Facebook Instagram and X @derryjazzfest.

    MIL OSI United Kingdom

  • MIL-OSI Asia-Pac: Palna Scheme under Mission Shakti

    Source: Government of India

    Palna Scheme under Mission Shakti

    A Journey of Women Empowerment and Child Care

    Posted On: 07 APR 2025 4:13PM by PIB Delhi

    ­­­­Introduction

    Government’s sustained initiatives on education, skilling and employment of women have resulted in increased opportunities for their employment, and more and more women are now in gainful employment, working within or outside their homes. Past few decades have shown a rapid increase in nuclear families. Thus, the children of such working women, who were earlier getting support from joint families while they were at work, are now in need of day care services which have to provide quality care and protection for the children. Lack of proper day-care services is, often, a deterrent for women to go out and work. To address these difficulties faced by the working mothers in giving due child care and protection to their children, day-care crèche facilities are being provided through Palna Scheme. Crèche services formalise the child care responsibilities hitherto considered as part of domestic work. Formalization of care work supports the “decent work campaign” to achieve the Sustainable Development Goal 8 – Decent work and economic growth. This will also enable more mothers, who will be free from unpaid child-care responsibilities, to take up gainful employment.

    In 2022, erstwhile National Creche Scheme was reorganized and renamed as Palna Scheme under the sub scheme ‘Samarthya’ of ‘Mission Shakti’.  Palna is a Centrally Sponsored Scheme ensuring the participation of State/ UT government to ensure better day-to-day monitoring and proper implementation of scheme, and is implemented with a funding ratio of 60:40 between Centre and State Governments and UTs with legislature except North East & Special Category States where ratio is 90:10. For UTs without legislature, 100% funding is provided by the central government.

    Region

    Centre’s Share

    State/UT Share

    General States

    60%

    40%

    North-Eastern and Special Category States

    90%

    10%

    UTs with Legislature

    60%

    40%

    UTs without Legislature

    100%

    0%

     

    Objectives of the Palna Scheme

    The objective of the Palna scheme is to provide quality crèche facility in safe and secure environment for children (from ages 6 months – 6 years), nutritional support, health and cognitive development of children, growth monitoring & immunization. Crèche facilities under Palna are provided to all mothers, irrespective of their employment status.

    Apart from the aforementioned primary objective, another objective of the component would involve monitoring compliance of the stipulations laid down in Section 11A of the Maternity Benefit Act regarding setting up of crèche facilities by the establishments. For this purpose, the States/UTs would explore the possibility of hosting an application/portal in convergence with the Labour & Employment Departments of their respective States/UTs for facilitating establishments to register on the portal and furnish details in respect of the crèches set up in accordance with the Act.

    Integrated Package of Services under Palna

    The Palna component under the Mission Shakti scheme aims to deliver a comprehensive set of services to children aged 6 months to 6 years. These services are designed to support early childhood care, development, and nutrition in convergence with Mission Poshan 2.0.

    Key services include:

    • Day care facilities, including sleeping arrangements
    • Early stimulation activities for children below 3 years
    • Pre-school education for children aged 3 to 6 years
    • Supplementary nutrition, sourced locally
    • Growth monitoring, health check-ups, and immunization support

     

    As part of enhancing access to childcare facilities, the Ministry of Labour & Employment has amended the Maternity Benefit Act to mandate all establishments with 50 or more employees to provide a crèche facility.

    Anganwadi cum Crèche (AWCC)

    There are two types of Crèches under Palna: Standalone Crèches and Anganwadi-cum-Crèches (AWCCs). As per Mission Shakti guidelines, for Standalone Creches, there is a provision of one Creche Worker and one Creche Helper. Similarly, for AWCCs, in addition to the already existing Anganwadi Worker and Anganwadi Helper, a provision for a Creche Helper and a Creche Worker has been made in Mission Shakti Guidelines. Anganwadi centres are the world’s largest childcare institutions dedicated to providing essential care and support to children ensuring delivery of care facilities till the last mile. Anganwadi cum Crèche initiative aims to increase ‘women work force participation’ in the economy. The Ministry of Women and Child Development is targeting to establish 17,000 new Anganwadi cum creches under the Palna Scheme in 2024-25. As of March 2025, 11,395 AWCCs across 34 States/UTs have been approved, as per proposals received from various States and UTs.

    Crèche Workers under supervision of Anganwadi worker do proper care and safety of children attending the Creche:

    • Provide proper arrangements for sleep and rest of children.
    • Ensure personal hygiene and Creche helper keep personal hygiene of every child and keep washrooms clean, help for toilet training.
    • Inculcate proper toilet habits and toilet training.
    • Facilitate regular health check-ups and referrals in liaison with Asha/AWWs/Primary Health Centre (PHC)/AWC.
    • Ensure that the food is hygienically and age appropriately cooked, stored/preserved and fed to the children at appropriate intervals.
    • Follow all laid out safety procedures for taking/handing over the child and w.r.t. quality of toys and other materials given to the children.

    The Anganwadi Cum creche scheme shall be implemented with the intra-ministerial convergence specially with Integrated Child Development Services and Poshan. It complies with legislations under Labour Laws as well as Maternity Benefits Act. As of February 2025, 1,761 AWCCs are operational with 28,783 current beneficiaries.  Besides this, 1,284 Standalone Creches are also operational across the country with 23,368 current beneficiaries.

     

    Creche Operation under Palna Scheme

    The Mission Shakti Guidelines state that the crèche timings need to be flexible depending on the local requirements. Crèches shall be open for 26 days in a month and for seven and half (7.5) hours per day as per the work schedule of majority of the mothers in the area. The Standard Operating Procedures for AWCCs also state that the Creche timings may be decided by State/ UT governments as per local need, however, it has to be ensured that timing should facilitate working mothers.

    The Creche Workers and Creche Helpers under Palna are honorary workers. There is no provision of salary or wages to the Creche Workers or Creche Helpers. However, the scheme guidelines have provision for grant of honorarium to Creche Workers and Creche Helpers. The amount of honorarium is governed through the type of Creche, and is detailed as below:

     

    Type of Creche

    Creche Worker

    Creche Helper

    Standalone Creche

    Rs. 6,500

    Rs. 3,250

    AWCC

    Rs. 5,500

    Rs. 3,000

     

    Palna as a Centrally Sponsored Scheme is implemented through the respective State/ UT Government. The respective States/ UTs may provide additional amount of honorarium to Creche Worker/ Helpers, as a Top-Up from their own funds. There is no bar or restriction from the Central Government about this.

     

    The funds allocated and released under Palna scheme since its introduction, are detailed as under:

                            (Amount in Crores)

    Financial Year

    2022-23

    2023-24

    2024-25

    Amount Allocated

    35

    85

    150.11

    Amount Released

    4.68

    64.15

    43.66*

                                                                                                                                         *Data as on December 19, 2024

     

    To maintain quality care and individualized attention, each crèche is ideally limited to a maximum of 25 children. To ensure ease of access and continued breastfeeding for infants, crèches must be situated close to either the:

    • Residential areas of the children
    • Workplaces of the mothers (preferably within 0.5–1 km walking distance)

    This proximity supports parental engagement and provides convenience in emergencies or regular pick-up and drop-off.

    Conclusion

     

    By providing a safe, nurturing, and developmentally appropriate environment for children aged 6 months to 6 years, the Palna scheme ensures that children receive holistic care, nutrition, education, and health services. With convergence across key ministries and flexibility to adapt to local needs, Palna strengthens the foundation for a healthier, more inclusive, and gender-sensitive society.

    References

    https://wcdhry.gov.in/gallery/haryana-creche/

    https://pib.gov.in/PressReleasePage.aspx?PRID=2100650

    https://missionshakti.wcd.gov.in/statisticsPalna

    https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1989473

    https://wcd.delhi.gov.in/sites/default/files/WCD/universal-tab/palna_scheme_under_mission_shakti.pdf

    https://pib.gov.in/PressReleseDetailm.aspx?PRID=2115235

    https://sansad.in/getFile/loksabhaquestions/annex/183/AU4233_BcWNDn.pdf?source=pqals

    https://sansad.in/getFile/loksabhaquestions/annex/184/AU3455_1Tt0mw.pdf?source=pqals

    https://static.pib.gov.in/WriteReadData/specificdocs/documents/2024/mar/doc202435319501.pdf

    https://missionshakti.wcd.gov.in/public/documents/whatsnew/Approved_AWCC_Sop.pdf

    https://wcd.delhi.gov.in/sites/default/files/WCD/universal-tab/palna_scheme_under_mission_shakti.pdf

    ****

    Santosh Kumar | Sarla Meena | Rishita Aggarwal

    (Release ID: 2119769) Visitor Counter : 62

    MIL OSI Asia Pacific News

  • MIL-OSI: Rivalry Announces Evaluation of Strategic Alternatives for Long-Term Growth

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, April 07, 2025 (GLOBE NEWSWIRE) — Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for digital-first players, today announced that its Board of Directors (the “Board”) has initiated a review of strategic alternatives to maximize long-term stakeholder value.

    To support this initiative, the Company has engaged XST Capital Group LLC (the “Advisor”), a leading boutique investment bank focused on the digital gaming sector.

    As part of this process, the Board, alongside the Advisor, will evaluate a range of options to ensure the Company is best positioned for continued growth and innovation. The review reflects the Board’s commitment to prudent corporate governance and its ongoing efforts to optimize the Company’s market position.

    “We have built a strong foundation in the online gaming sector, delivering an exceptional experience for our players while driving operational excellence,” said Steven Salz, Co-Founder and CEO of Rivalry. “This review is a natural step in assessing how we can best create long-term value for our stakeholders while continuing to enhance our world-class gaming platform.”

    The Company also announces that it has secured a US$650,000 principal amount senior unsecured loan from its existing senior lender, maturing on September 30, 2025, with an interest rate of 10% per annum (the “Loan”). The Loan reinforces the Company’s senior lender’s support for the process and provides the Company with additional flexibility to pursue strategic initiatives.

    About Rivalry

    Rivalry Corp. wholly owns and operates Rivalry Limited, a leading sport betting and media company offering fully regulated online wagering on esports, traditional sports, and casino for the digital generation. Based in Toronto, Rivalry operates a global team in more than 20 countries and growing. Rivalry Limited has held an Isle of Man license since 2018, considered one of the premier online gambling jurisdictions, as well as an internet gaming registration in Ontario, and is currently in the process of obtaining additional country licenses. With world class creative execution and brand positioning in online culture, a native crypto token, and demonstrated market leadership among digital-first users Rivalry is shaping the future of online gambling for a generation born on the internet.

    No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

    Company Contact:
    Steven Salz, Co-founder & CEO
    ss@rivalry.com

    Investor Contact:
    investors@rivalry.com

    Media Contact:
    Cody Luongo, Head of Communications
    cody@rivalry.com
    203-947-1936

    Cautionary Note Regarding Forward-Looking Information and Statements

    This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “project” and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Company’s strategic review process and any potential transactions that may arise in connection therewith.

    Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown, variables, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors, among other things, include regulatory or political change such as changes in applicable laws and regulations; the ability to obtain and maintain required licenses; the esports and sports betting industry being a heavily regulated industry; the complex and evolving regulatory environment for the online gaming and online gambling industry; the success of esports and other betting products are not guaranteed; changes in public perception of the esports and online gambling industry; failure to retain or add customers; the Company having a limited operating history; negative cash flow from operations and the Company’s ability to operate as a going concern; operational risks; cybersecurity risks; reliance on management; reliance on third parties and third-party networks; exchange rate risks; risks related to cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and general economic, market and business conditions. For additional risks, please see the Company’s management’s discussion and analysis for the three and nine months ended September 30, 2024 under the heading “Risk Factors”, and other disclosure documents available on the Company’s SEDAR+ profile at www.sedarplus.ca.

    No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

    Source: Rivalry Corp.

    The MIL Network

  • MIL-OSI: Wesdome Gold Mines to Acquire Angus Gold; Quadruples the Eagle River Land Package

    Source: GlobeNewswire (MIL-OSI)

    All amounts are expressed in Canadian dollars unless otherwise indicated

    TORONTO, April 07, 2025 (GLOBE NEWSWIRE) — Wesdome Gold Mines Ltd. (TSX: WDO, OTCQX: WDOFF) (“Wesdome” or the “Company”) and Angus Gold Inc. (TSX-V: GUS, OTC: ANGVF) (“Angus”) are pleased to jointly announce that they have entered into a definitive arrangement agreement (the “Agreement”) whereby Wesdome will acquire all of the issued and outstanding common shares of Angus pursuant to a plan of arrangement (the “Arrangement”).

    Under the terms of the Agreement, each of the issued and outstanding common shares of Angus that Wesdome does not currently own will be exchanged for $0.62 cash plus 0.0096 of a Wesdome share (the “Offer”), representing an aggregate value of $0.77 per Angus common share, based on the closing price of Wesdome’s common shares on the Toronto Stock Exchange on April 4, 2025, the last trading day prior to announcement of the Offer. The Offer represents a premium of 59% to Angus’ 20-day volume-weighted average price ending April 4, 2025. Wesdome currently owns 6.3 million common shares of Angus and 3.15 million common share purchase warrants, or approximately 10.4% of Angus’ basic common shares outstanding and 14.9% on a partially diluted basis. The enterprise value to Wesdome, net of Angus’s cash, is approximately $40 million.

    Strategic Rationale for Wesdome

    • Transforms Eagle River into a district-scale opportunity (Figure 1)
      Quadruples Wesdome’s land position at Eagle River, consolidating two adjacent properties into one ~400 km2 contiguous strategic land package situated on a highly prospective greenstone belt. The expanded footprint hosts multiple targets and mineralization styles.
    • Bolsters Eagle River’s greenfield exploration pipeline
      Consolidates district-scale exploration potential across at least three mineralized trends, including the Eagle River Splay and Cameron Lake banded iron formation (“BIF”). Recent intercepts — 48.7 g/t Au over 1.5m at the Splay and 47.4m at 1.1 g/t Au (incl. 11.7m at 2.2 g/t) at BIF — underscore the potential for discovering new mineralized zones and resource delineation.
    • Underscores long-term commitment to Eagle River
      Opportunity to leverage Wesdome’s existing balance sheet, infrastructure and relationships with stakeholder and Indigenous groups to accelerate exploration and development, while continuing to focus on the Company’s asset base located in Ontario and Québec – two of the world’s premier mining jurisdictions.

    Strategic Rationale for Angus Shareholders

    • Attractive premium
      The Offer represents a significant premium and is a validation of the efforts of the Angus team over the past 5 years. In addition, the cash component represents 80% of the Offer price and reflects a strong immediate return for Angus shareholders.
    • Exposure to a growing value-driven Canadian gold producer
      Wesdome’s portfolio of high-quality producing gold assets in Ontario and Québec further reinforces the strategic rationale of this transaction. Shareholders will receive a portion of the consideration in common shares of Wesdome, a proven Canadian gold producer with a track record of value creation.

    Anthea Bath, President and CEO of Wesdome, commented, “This is a highly logical and strategic tuck-in transaction that brings together a contiguous land package between the Eagle River mine and mill, enhancing our ability to unlock value through the drill bit. It reinforces our belief in the geological potential of the Mishibishu Lake greenstone belt, aligns with our focus on regional consolidation, and positions us to deliver sustainable, long-term growth supported by our strong balance sheet and existing infrastructure.

    “Since 2020, Angus has invested over $20 million into exploration across the Golden Sky project, generating a pipeline of targets and confirming the geological continuity with Eagle River. Wesdome intends to continue this momentum, focusing on high-priority zones such as the Cameron Lake BIF and Eagle River Splay in 2025. Wesdome remains deeply confident in the prospectivity of the Eagle River camp and the broader potential of our ongoing fill-the-mill strategy. This transaction represents a strategic investment in that vision and underscores our long-term commitment to unlocking value at Eagle River.

    “Breanne and her team have done excellent work over the last several years, which has resulted in multiple discoveries and laid the groundwork for further exploration. We believe that now is the right time for Wesdome to assume ownership and build upon the work done by the Angus team. With Wesdome’s balance sheet and free cash flow profile, we can add significant value to the property and eventually bring economic deposits into production quickly given the proximity to our existing infrastructure.”

    Breanne Beh, President and CEO of Angus, commented, “On behalf of the Board of Directors of Angus Gold, we are excited to have reached an agreement with Wesdome. This transaction is a testament to the dedication and diligent work of the Angus team, particularly our exploration team, and we sincerely thank everyone for their excellent work. Since 2020, through a series of property acquisitions, we consolidated a district-scale land package, completed over 40,000 metres of drilling, and made significant gold discoveries. These accomplishments would not have been possible without the support of our committed stakeholders. We believe this transaction delivers immediate value to our shareholders and provides the opportunity to benefit from a well-established and well-financed gold producer.”

    Summary of the Arrangement

    The Arrangement will be implemented by way of a court-approved plan of arrangement pursuant to the Business Corporations Act (Ontario) and will require the approval of the Ontario Superior Court of Justice (Commercial List) and the approval of at least two-thirds of the votes cast by Angus shareholders as well as the approval of a simple majority of disinterested shareholders at a special meeting of Angus shareholders, which is expected to be held in June 2025.

    In addition to the aforementioned approvals, completion of the Arrangement is subject to other customary conditions and stock exchange approvals. The Arrangement is expected to close in the second quarter of 2025.

    The directors, senior officers and advisors of Angus, holding in aggregate 28% of the issued and outstanding common shares of Angus, have entered into voting support agreements with Wesdome, pursuant to which they have agreed to vote their shares in favour of the transaction, where permitted by applicable regulations.

    New Gold Inc. has agreed to a lock-up agreement with Wesdome to tender its 4.85 million shares, or 8% of the outstanding common shares on a basic basis. Together with common shares already owned or held by Wesdome, the Company has now entered into lock-up agreements with Angus shareholders owning an aggregate 47% of the outstanding common shares of Angus on a basic basis, including each of the directors and officers of Angus.

    The Agreement provides for customary deal protection provisions, including non-solicitation covenants on the part of Angus and a right in favour of Wesdome to match any unsolicited superior proposal. In the event that the Agreement is terminated in certain circumstances, Angus has agreed to pay Wesdome a termination fee of $2.3 million.

    Board Approval and Recommendation

    The special committee of independent directors of Angus (the “Angus Special Committee”) has received an opinion from Evans & Evans, Inc. that, based upon and subject to the limitations, assumptions and qualifications of and other matters considered in connection with the preparation of such opinion, the Offer is fair, from a financial point of view, to the Angus shareholders (other than Wesdome) (the “Fairness Opinion”).

    Following its review and in consideration of, amongst other things, the Fairness Opinion, the Special Committee has unanimously recommended that the board of directors of Angus approve the Arrangement. The Angus board, following the receipt and review of recommendations from the Special Committee, and after receiving legal and financial advice, has unanimously approved the Agreement and the Arrangement and has determined that the Arrangement is fair to shareholders of Angus (other than Wesdome) and is in the best interests of Angus, and unanimously recommends to shareholders that they vote in favour of the Arrangement.

    The Agreement has also been unanimously approved by the board of directors of Wesdome.

    Warrants and Options

    Pursuant to the Arrangement, each Angus stock option (each, a “Stock Option”) outstanding immediately prior to the effective time of the Arrangement (the “Effective Time”) shall automatically vest and be immediately cancelled in exchange for a cash payment equal to the excess, if any, of: (i) the product of the number of Angus common shares underlying such Angus Options and $0.77; over (ii) the applicable aggregate exercise price of such Angus Options. All outstanding restricted share units outstanding immediately prior to the Effective Time shall automatically vest and be immediately cancelled in exchange for a cash payment equal to $0.77. All Angus warrants outstanding immediately prior to the Effective Time will be immediately cancelled in exchange for a cash payment equal to the in-the-money value of such warrant.

    Advisors and Counsel

    Wesdome has engaged Stikeman Elliott LLP as its legal advisor in connection with the transaction.

    Peterson McVicar LLP is acting as legal advisor to Angus and Mason Law LLP is acting as legal advisor to the Special Committee in connection with the transaction. Evans & Evans, Inc. has been retained to deliver a fairness opinion to the Angus Special Committee.

    About Wesdome Gold Mines

    Wesdome is a Canadian-focused gold producer with two high-grade underground assets, Eagle River in Northern Ontario and Kiena in Val-d’or, Québec. The Company’s primary goal is to responsibly leverage its operating platform and high-quality brownfield and greenfield exploration pipeline to build a growing value-driven gold producer.

    About Angus Gold

    Angus is a Canadian mineral exploration company focused on the acquisition, exploration, and development of highly prospective gold properties. The Company’s flagship project, which is the Golden Sky Project near Wawa, Ontario, is situated immediately adjacent to Wesdome’s Eagle River mine.

    Contacts for Wesdome  
       
    Raj Gill  Trish Moran
    SVP, Corporate Development & Investor Relations VP, Investor Relations
    Phone: +1.416.360.3743 Phone: +1.416.564.4290
    E-Mail: invest@wesdome.com E-mail: trish.moran@wesdome.com
       
    Contacts for Angus  
       
    Breanne Beh Lindsay Dunlop
    President and CEO VP, Investor Relations
    Phone: +1.807.356.6330 Phone: +1.647.259.1790
    Email: bbeh@angusgold.com Email: info@angusgold.com


    Forward-Looking Statements

    This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the future financial and operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

    Forward-looking statements or information contained in this press release include, but are not limited to, statements or information with respect to: (i) expectations regarding whether the proposed Arrangement will be consummated, including whether conditions to the consummation of the Arrangement will be satisfied, or the timing for completing the Transaction, (ii) expectations for the effects of the Arrangement or the ability of the combined company to successfully achieve business objectives, including integrating the companies or the effects of unexpected costs, liabilities or delays, (iii) the potential benefits and synergies of the Arrangement, and (iv) expectations for other economic, business, and/or competitive factors.

    Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors including those risk factors discussed in the sections titled “Cautionary Note Regarding Forward Looking Information” and “Risks and Uncertainties” in the Company’s most recent Annual Information Form. Readers are urged to carefully review the detailed risk discussion in our most recent Annual Information Form which is available on SEDAR+ and on the Company’s website.

    Figure 1 – Wesdome and Angus Property Map

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f6dab7f8-132c-4c17-b3c1-507968504e44

    The MIL Network

  • MIL-OSI United Nations: Committee against Torture Opens Eighty-Second Session in Geneva

    Source: United Nations – Geneva

    The Committee against Torture this morning opened its eighty-second session, which is being held in Geneva from 7 April to 2 May, during which it will review efforts by Armenia, France, Mauritius, Monaco, Turkmenistan and Ukraine to implement the provisions of the Convention against Torture and Other Cruel, Inhuman or Degrading Treatment or Punishment.

    Mahamane Cisse-Gouro, Director of the Human Rights Council and Treaty Mechanisms Division at the Office of the United Nations High Commissioner for Human Rights, and Representative of the Secretary-General, opening the session, said that the international system was undergoing a tectonic change, and the edifice of human rights that had been built so painstakingly over the decades had never been under such pressure.  At the root of this upheaval were the intensification of armed conflicts and crises; the growing influence of authoritarian regimes and the increasing control of autocrats over large swathes of the global economy; social tensions and resentments fuelled by growing inequalities and often directed against refugees, migrants and other vulnerable groups; the impact of climate change on the realisation of fundamental rights; and the misuse of digital technologies to repress, restrict and violate human rights.

    In these difficult times, Mr. Cisse-Gouro said, independent voices from treaty bodies were more essential than ever to ensure respect for and implementation of international human rights law.  The Committee against Torture played a fundamental role in monitoring and providing guidance to States parties through its concluding observations, general comments and jurisprudence.  Mr. Cisse-Gouro encouraged the Committee to continue its invaluable work to strengthen and clarify the applicability of the Convention in a broad range of situations and promote human dignity and justice in all circumstances.

    However, Mr. Cisse-Gouro said, in addition to ongoing chronic resource constraints, the current liquidity situation of the United Nations Secretariat had hampered, and continued to hamper, the planning and implementation of the Committee’s work. The Office of the High Commissioner was doing its utmost to ensure that the treaty bodies could carry out their mandates, including highlighting the direct impact of resource limitations on human rights protection on the ground.  Nevertheless, all indications suggested that the challenging liquidity situation would persist for the foreseeable future.

    The treaty body strengthening process had reached a crucial juncture, Mr. Cisse-Gouro noted.  In December last year, the General Assembly adopted the biennial resolution on the treaty body system, which invited the treaty bodies and the Office of the High Commissioner to continue to work to achieve a clear and regularised schedule for reporting by States parties, and to increase their efforts to further use digital technologies in their work.  However, the resolution did not endorse the proposal for an eight-year predictable schedule of country reviews.

    On Human Rights Day last year, Mr. Cisse-Gouro said, the Geneva Human Rights Platform organised an informal meeting of the Chairs and focal points on working methods, which explored the latest developments in the treaty body system and sought to improve the harmonisation of procedures.  The Chairs and focal points also had the opportunity to interact with the coordination committee of special procedures mandate holders, discussing independence and an “all mechanisms” approach to the many challenges the human rights mechanisms were facing.  The High Commissioner’s Office would continue to work alongside the treaty bodies to harmonise working methods, particularly in preparation for the annual meeting of the treaty body Chairs in June.

    Mr. Cisse-Gouro noted that, at the fifty-eighth session of the Human Rights Council, High Commissioner for Human Rights Volker Türk launched his Office’s report on good practices and lessons learned related to transitional justice processes in the context of sustaining peace and sustainable development, which illustrated powerful practices that were victim-centred, inclusive, gender-responsive and innovative. Additionally, the report presented by the Special Rapporteur on freedom of religion or belief explored the intersections between the right to freedom of religion or belief and the prohibition of torture and ill-treatment, with input from the Committee.  It showed that States, courts and even those working directly with victims had not consistently taken these rights into consideration in cases raising overlapping concerns, potentially exposing victims to further abuse.

    In closing, Mr. Cisse-Gouro expressed the Office of the High Commissioner’s strong support for the Committee’s critical mandate and wished it a successful session.

    Claude Heller, Committee Chairperson, said that the Committee agreed that the increasingly deteriorating international situation was fracturing the multilateral system and questioning the values on which United Nations was built.  This was a human rights crisis.  It was deeply concerning to see States fall short of their obligations under human rights treaties or even withdraw from international human rights bodies.  In this context, the Committee needed to continue to fight for these values and principles, the implementation of the Convention, and the prevention of torture.

    The United Nations’ liquidity crisis had been felt more deeply recently, Mr. Heller said.  States needed to shoulder their obligations to the treaty body system and do everything they could to maintain its operation.  The Committee was concerned by the impact of the crisis on its activities but would cooperate with the Office of the High Commissioner to ensure that the efforts to address the situation were aligned.

    During the session, Mr. Heller said, the Committee would conduct dialogues to review the reports of Armenia, France, Mauritius, Monaco, Turkmenistan and Ukraine, and would also prepare and adopt lists of issues for Pakistan and Tajikistan and lists of issues prior to reporting for Antigua and Barbuda, Botswana, Iceland, Iraq, Kenya, Montenegro, State of Palestine and Uruguay.  Further, the Committee would examine 27 communications, considering 15 communications on the merits and on admissibility and 12 for discontinuance.

    Mr. Heller reported that on Tuesday, 29 April, follow-up reports would be presented by the Committee’s Rapporteur for follow-up to concluding observations, the Rapporteur for follow-up on decisions adopted under article twenty-two, and the Rapporteur on reprisals. The Committee would hear a presentation from the Chair of the Subcommittee on Prevention of Torture and Other Cruel, Inhuman or Degrading Treatment on the Subcommittee’s sixteenth annual report in a public meeting on Monday, 14 April, and was also scheduled to adopt its own annual report in a public meeting on Friday, 2 May.

    Mr. Heller concluded by thanking States, national human rights organizations, civil society organizations, particularly the World Organization against Torture, and the Committee’s Secretariat for their support of the Committee’s work.

    During the meeting, the Committee adopted its provisional agenda for the session.

    Documents relating to the Committee’s work, including reports submitted by States parties, will be available on the session’s webpage.  Summaries of the public meetings of the Committee can be found here, and webcasts of the public meetings can be found here.

    The Committee will next meet in public on Tuesday, 8 April at 10 a.m. to consider the seventh periodic report of Monaco

    ___________

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

     

    CAT25.001E

    MIL OSI United Nations News

  • MIL-OSI United Nations: UNDRR partnership with Standard Chartered prompts resilient infrastructure deal to tackle $2 trillion climate impacts

    Source: UNISDR Disaster Risk Reduction

    • Standard Chartered announces completion of first adaptation finance deal for a corporate client following launch of the breakthrough Guide for Adaptation and Resilience Finance.
    • Deal facilitates the trade of solar modules resistant to tornadoes and tropical storms, extreme wind, storms and sandstorms.
    • In 2024, the International Chamber of Commerce (ICC) reported that over the last decade, climate-related extreme weather events resulted in cumulative losses to the global economy of around $2 trillion.
    • Deal demonstrates potential of adaptation as an investable asset class in response to growing demand for resilient infrastructure to mitigate economic losses caused by extreme weather events, such as those caused by the Los Angeles wildfires earlier this year.

    London, 13 March 2025 – Standard Chartered today announces the successful completion of an adaptation transaction for Jinko Solar Co., Ltd. (JinkoSolar), facilitating the delivery of storm and extreme weather-resilient solar modules to solar photovoltaic (PV) farms located in the US (Florida), UAE and Saudi Arabia. Standard Chartered provided Bank Guarantees (BGs) to facilitate the trade of these solar modules, known as Tiger Neo N-type products.

    The deal is Standard Chartered’s first labelled adaptation finance deal for a corporate client following the launch of the breakthrough Guide for Adaptation and Resilience Finance, which set out for the first-time, guidance on what constitutes adaptation and resilience investment, mapping over 100 investable activities in this field. This also represents the Bank’s first labelled adaptation finance transaction in China.

    The deal demonstrates the potential of adaptation and resilience as an investable asset class in response to growing demand for resilient infrastructure, particularly in the US (Florida), UAE and Saudi Arabia, where extreme wind, storms and sandstorms degrade and disrupt solar technology, leading to economic losses on investments made. The project specification (see Appendix) protects against:

    • Tornadoes and tropical storms in the US (Florida), like the more than 46 tornadoes that occurred throughout Florida in 2024 as a result of Hurricane Milton. Across the US, hurricanes including Hurricane Milton and Hurricane Helene (North Carolina) caused over $500 billion in economic losses.
    • Extreme wind, storms and sandstorms in the UAE and Saudi Arabia, including the severe storm that swamped Dubai in 2024 leading to damages thought to be worth hundreds of millions of dollars to homes and businesses.

    Ben Hung, President, International at Standard Chartered, said: “As a bank that sits at the centre of trade flows, and helps to facilitate them, we’re delighted to support JinkoSolar on this transaction. This deal demonstrates Standard Chartered’s ability to leverage the full breadth of our cross-border capabilities alongside our unique adaptation finance expertise, to connect demand for advanced solar technology with supply, building long-term resilience into critical energy infrastructure across our markets.”

    Haiyun Cao, Chief Financial Officer at JinkoSolar, said: “Adaptation and resilience financing are crucial in the journey to address climate change and as a leading enterprise in the photovoltaic industry, JinkoSolar feels a great sense of responsibility to support this. We are committed to promoting the development of clean energy and improving the efficiency and adaptability of photovoltaic products through technological innovation. This not only contributes to our own sustainable development, but also provides stable clean energy supply for societies and enhances our ability to cope with climate challenges. JinkoSolar looks forward to strengthening our work with Standard Chartered to contribute to building a more resilient energy system together.”

    Research from the International Chamber of Commerce (ICC) found that over the last decade, nearly 4,000 climate-related extreme weather events resulted in cumulative losses to the global economy of around $2 trillion, including the direct cost of physical asset destruction. In the last two full years alone, global economic damages reached $451 billion – representing a 19% increase compared to the previous eight years of the decade, underscoring the urgent need for resilient infrastructure.

    Tracy Wong Harris, Head, Sustainable Finance GCNA at Standard Chartered said: “Standard Chartered offers practical solutions to mitigate the worst impacts of extreme weather, helping our clients build resilience against the major productivity losses being felt here and now in the real economy as a result of increasingly frequent weather-related events. We’re proud to support JinkoSolar on this transaction, empowering them in delivering clean energy security alongside long-term business growth.”

    In 2024, Standard Chartered, KPMG and the United Nations Office for Disaster Risk Reduction launched the Guide for Adaptation and Resilience Finance, with support from more than twenty leading financial institutions and NGOs a guide for investment in adaptation and resilience. The guide set out a common reference for adaptation and resilience alongside a list of financeable adaptation and resilience themes and activities, forming a classification framework for the market.

    Marisa Drew, Chief Sustainability Officer, Standard Chartered, said: “When we launched the Guide for Adaptation and Resilience Finance, we set out to provide the clarity needed across the market to accelerate investment into adaptation and resilience. Today, we’re putting the Guide into action ourselves through our first labelled deal with a corporate client, demonstrating the commercial opportunity alongside the economic benefits of financing resilient infrastructure in markets that are acutely vulnerable to the negative effects of extreme weather.”

    This is Standard Chartered’s second labelled adaptation finance deal, having completed a deal with an insurance client in 2023, which provided financial protection against extreme weather such as changes in river levels and wind levels for businesses in the renewable energy sector.

    View the report

    MIL OSI United Nations News

  • MIL-OSI Asia-Pac: Speech by FS at Hong Kong Web3 Festival (English only) (with photos)

    Source: Hong Kong Government special administrative region

    Following is the speech by the Financial Secretary, Mr Paul Chan, at the Hong Kong Web3 Festival today (April 7):

    (Deputy to the National People’s Congress, Vice Chairman of the All-China Federation of Industry and Commerce, the Chairman and Chief Executive Officer of Wanxiang Group, Mr Lu Weiding), (the Chairman of Wanxiang Blockchain and the Chairman and Chief Executive Officer of HashKey Group, Dr Xiao Feng), Duncan (Member of the Legislative Council Mr Duncan Chiu), distinguished guests, innovators, and pioneers of the digital frontier,

    Good morning. It is an immense pleasure to join you all today at the Web3 Festival of Hong Kong, a gathering of brilliant leaders and innovators to share thoughts and experiences about the future of blockchain, cryptocurrencies, decentralised finance and beyond.

    For those who have come from afar, a warm welcome to Hong Kong. As a city where East meets West and tradition intertwines with innovation, we are proud to host you to collectively chart the course of Web3.

    As a technology, blockchain is displaying its vast potential, significantly increasing transaction efficiency, lowering costs and enhancing market transparency. Today, we are witnessing a marked increase in the institutional adoption of Web3, with traditional banks, asset managers and brokers increasingly integrating digital assets into their offerings.

    As more jurisdictions embrace cryptocurrencies, the market has been energised with optimism, marked by a bullish trend over the past year or so.

    But beyond finance and the enthusiasm on cryptocurrency, we all agree that blockchain can bring real benefits to the people. For example, ReFi (regenerative finance) is gaining traction. Tokenised carbon credits enable the transparent tracking of emissions reductions, reinforcing trust in voluntary carbon markets.

    Meanwhile, the convergence of Web3 and AI is unlocking new frontiers. In finance, decentralised AI algorithms enhance credit assessments, audit smart contracts with greater precision, and deliver hyper-personalised investment strategies. Beyond finance, this synergy streamlines supply chains, revolutionises healthcare data management, and creates new immersive gaming experiences. Web3 and AI are transforming businesses and public services, driving innovation and efficiency at every turn.

    Hong Kong: driving Web3 innovation

    Allow me to take a few minutes to talk about Web3 in Hong Kong, our attitude and approach towards Web3 and our role in this global transformation.

    Hong Kong is pro-Web3. Over two years ago, we published a high-level policy statement on the development of virtual assets, affirming our commitment to a dynamic Web3 ecosystem. Central to this is the principle of the “same activity, same risk, same regulation” approach. Through a balanced and pro-innovation regulatory approach, we seek to maintain a level playing field for market participants and encourage innovative activities in this space.

    We have been walking the talk, and have delivered a number of initiatives. We were among the first in the world to have established clear licensing frameworks for virtual asset trading platforms, or VATPs. Indeed, the Securities and Futures Commission has already issued 10 VATP licences. We have also authorised VA spot ETFs (exchange-traded funds) last year, and Hong Kong now hosts the largest VA ETF market in the Asia Pacific, bridging traditional finance with crypto innovation.

    Meanwhile, legislation for stablecoin regulation is set for imminent passage. My colleagues at the Financial Services and the Treasury Bureau and the Hong Kong Monetary Authority (HKMA) are working hard to get the relevant licensing regime to go live within this year.

    The Government will also conduct consultations on the licensing regimes of over-the-counter trading services and custodian services for VA (virtual assets). This will solidify Hong Kong’s comprehensive regulatory architecture.

    Let me make clear that Hong Kong’s approach to Web3 is not simply about regulation. We aim to strike a balance, ensuring market integrity without stifling innovation. After all, innovation entails risks. The lesson we have learnt is that we need to put it under a balanced regulatory framework so as to enable the sector to grow in a responsible and sustainable manner.

    One essential element in our regulatory regime is sandboxes, such as the HKMA’s Project Ensemble. Project Ensemble allows innovators to test various use cases, such as tokenised real-world assets, with early regulatory feedback. This signifies our pro-innovation approach, as we put regulators and innovators in a co-creation process.

    Later this year, we will unveil a second policy statement on the development of virtual assets. It will cover how to make use of Web3 to fast-track the development of traditional financial services, empower the real economy and strengthen the application of digital asset technologies.

    A few thoughts on Web3

    Now, looking ahead, allow me to share a few thoughts we consider important for the future development and success of Web3.

    First, it is the very vision of Web3 to enable more equitable use of the Internet, and make transactions more efficient and less costly. Innovation is core to this goal, and regulators should adopt a technology-neutral approach. It would only be counterproductive if jurisdictions or regulatory authorities favour particular types of cryptocurrencies, or rule out technologies or applications at the outset. Markets, not mandates, should decide which innovations prevail.

    Second, we all know Web3’s true potential lies well beyond digital assets or cryptocurrencies. Combined with AI, it can be a valuable tool to optimise impact investments, promote inclusive finance, support decarbonisation initiatives, advance sustainable development goals, and more. The global Web3 community should and can strengthen collaboration to support these worthy causes.

    Finally, it is essential that new technologies be developed and applied responsibly. AI, for instance, is evolving at speeds that are unexpectedly faster. Decentralised networks bring enormous benefits, but when coupled with AI, challenges such as algorithmic bias, deepfakes and cybersecurity require attention and co-operation at the regional and global levels. Here in Hong Kong, we advocate for suitable guardrails – frameworks that protect investors, consumers and users while encouraging innovation activities. We support a multi-stakeholder approach where governments, regulators and market players across different territories and regions come together to drive forward the sustainable development of Web3.

    Concluding remarks

    Ladies and gentlemen, to secure a promising and successful future for Web3, we need not just technological innovation, but also a common will to harness creativity and innovation for the benefit of the people. Let me assure you that Hong Kong is committed to this goal. We are here to collaborate with innovators and entrepreneurs from around the world, pushing the boundaries of what is possible, and leveraging the transformative power of Web3 for the greater good. Thank you very much.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Department of Animal Husbandry and Dairying Showcases Livestock & Dairy Innovations at Startup Mahakumbh 2025

    Source: Government of India

    Posted On: 06 APR 2025 9:02AM by PIB Delhi

    The Department of Animal Husbandry and Dairying (DAHD) under the Ministry of Fisheries, Animal Husbandry and Dairying marked it’s noteworthy presence at the recently concluded Startup Mahakumbh 2025, held from April 3rd to 5th at Bharat Mandapam, New Delhi. Participating as a Silver Supporting Partner, DAHD set up an engaging pavilion, showcasing innovations and initiatives in the livestock and dairy sector.

    As part of its Pavilion, DAHD provided Startup Pods to 15 Startups functional in the Livestock and Dairy sector, who got an opportunity to display their product/services and network with key stakeholders while exploring avenues for scaling their impact in India’s agrarian economy. These Startups showcased innovative products and technologies for example, ensuring temperature compliance in dairy processing, AI monitoring for animal health management, sensor-based smart collar for estrus detection, milk adulteration detection kit to ensure food safety, end-to-end SaaS platform for dairy supply chain, artificial insemination gun, data integration in dairy supply chain via blockchain to improve product traceability etc. Ms. Varsha Joshi, Additional Secretary, DAHD, visited the Pavilion and interacted with several startups, appreciating their contribution and innovations in livestock management and dairy technology.

    DAHD’s Pavilion highlighted key government initiatives including the National Livestock Mission’s Entrepreneurship Development Programme, the Rashtriya Gokul Mission, and the Animal Husbandry Infrastructure Development Fund. The pavilion also showcased DAHD’s efforts in delivering services directly to farmers doorstep and attracted significant interest and footfall from a wide range of stakeholders from academia, industry, and general public.

     ***

    Aditi Agrawal

    (Release ID: 2119442) Visitor Counter : 62

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: InvestHK visits Middle East to attract business investment to Hong Kong (with photo)

    Source: Hong Kong Government special administrative region

    ​Associate Director-General of Investment Promotion at Invest Hong Kong (InvestHK) Mr Charles Ng will commence his duty visit to the Middle East from today (April 6) to April 10, with key engagements in Saudi Arabia and the United Arab Emirates (UAE). The visit underscores Hong Kong’s commitment to deepening economic ties with these dynamic markets and promoting the city as a premier gateway for Middle Eastern businesses seeking opportunities on the Mainland and in the broader Asia-Pacific region.
     
    Hong Kong has a strong, long-standing and ever-growing relationship with the Gulf region including Saudi Arabia and the UAE, marked by increasing co-operation in finance, trade, and investment. The city’s merchandise trade with the Cooperation Council for the Arab States of the Gulf reached US$21.6 billion in 2023. These partnerships are further strengthened through initiatives such as the Belt and Road Initiative, which fosters greater connectivity and economic opportunities.
     
         “Amid an increasingly complex global landscape and geopolitical uncertainties, countries in the Middle East are actively diversifying their investments. Hong Kong, as a global financial centre and a ‘super connector’ between the Mainland, Asia, and the rest of the world, is uniquely positioned to support this shift,” said Mr Ng. “Under the ‘one country, two systems’ principle, our city offers a robust legal system, free flow of capital and information, and internationally aligned regulations. Beyond finance, Hong Kong is also a hub for trade, logistics, innovation and professional services. It serves as a gateway for Middle Eastern partners to tap into the Mainland and the broader Asia-Pacific region.”
     
    As part of its commitment to financial diversification, the city has developed a supportive platform for Islamic finance, including sukuk issuance and tax law amendments to ensure a level playing field with conventional bonds and the successful launch of three government sukuk. It continues to welcome more Islamic financial institutions and products to leverage Hong Kong’s international financial platform and tap into opportunities across Asia and the Mainland.
     
    During his visit to Riyadh, Jeddah and Dubai, Mr Ng will participate in numerous high-level business roundtables co-organised with Asia House, bringing together representatives from prominent businesses, family offices, and investors. He will also meet with representatives from leading Middle Eastern companies and discuss how establishing a presence in Hong Kong can drive their global expansion strategies.
     
    These engagements aim to strengthen economic ties, foster collaboration, and attract more businesses from the Middle East to invest and expand through Hong Kong. By leveraging Hong Kong’s unique position as a global financial and multinational supply chain management hub, InvestHK seeks to facilitate mutually beneficial partnerships that drive innovation and growth across regions.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Union Minister of Commerce & Industry, Shri Piyush Goyal confers ‘Startup Maharathi’ Awards at Startup Mahakumbh 2025

    Source: Government of India

    Union Minister of Commerce & Industry, Shri Piyush Goyal confers ‘Startup Maharathi’ Awards at Startup Mahakumbh 2025

    Maharathis are the warriors of India’s innovation journey: Shri Piyush Goyal

    Second Fund of Funds for Startups worth ₹10,000 crore approved to boost deep-tech and early-stage innovation

    Startup India Desk to be set up to serve as a helpline for startups

    Posted On: 05 APR 2025 9:08PM by PIB Delhi

    Union Minister of Commerce & Industry, Shri Piyush Goyal conferred the ‘Startup Maharathi’ Awards on the concluding day of Startup Mahakumbh 2025 in New Delhi today. Addressing a packed audience of entrepreneurs, innovators and ecosystem enablers, the Minister lauded all participants, stating that each one of them is a “Maharathi”—a skilled warrior and vital contributor in India’s startup revolution.

    “Maharathi is every one of the 2,400 participants of this grand challenge. Every one of the 3,000 exhibitors at Startup Mahakumbh is on the path to success,” said Shri Goyal, as he acknowledged the immense talent and potential of India’s startup ecosystem.

    He encouraged young founders to set ambitious goals and rise beyond the limitations of the present. “The potential you hold will make you a great contributor to India’s journey in this Amrit Kaal. Let the Startup Mahakumbh ignite aspirations that go beyond the current realm of reality,” he added.

    Comparing the scale of the event with previous years, the Minister informed that while last year saw around 3,000 visitors, this year the Mahakumbh witnessed a record footfall of 2.3 lakh visitors, underlining India’s exponential growth trajectory in the innovation space.

    Shri Goyal also shared that 40% of the applicants for the Maharathi Grand Challenge were from Tier 2 and Tier 3 cities, and many were women-led startups. “Women are taking a lead in India’s development and contributing with great enthusiasm,” he remarked.

    The Minister emphasised that the Government is creating an enabling environment for startups through landmark reforms in Ease of Doing Business. “Over 40,000 compliances have been simplified or removed, and many laws have been decriminalized so that startups can work freely and fairly,” he said.

    Announcing a key initiative, Shri Goyal revealed that a dedicated Startup India Desk will be set up in the Ministry of Commerce & Industry to serve as a helpline for startups across India, accessible via a simple 4-digit toll-free number in regional languages.

    He also said that the Second Fund of Funds for Startups (FFS) with a corpus of ₹10,000 crore, has been approved by Hon’ble Prime Minister Shri Narendra Modi. This year, ₹2,000 crore will be disbursed to SIDBI as the first installment. A significant portion of the fund will be reserved for seed funding of small startups and to support deep-tech innovation.

    “Through this fund, we aim to foster the development of cutting-edge technologies like AI, robotics, quantum computing, machine learning, precision manufacturing and biotech,” he stated.

    The objective is to provide early-stage financial support to budding entrepreneurs who often face challenges in accessing traditional forms of capital. This allocation will empower startups working on disruptive technologies by enabling them to scale prototypes, undertake research and development, and accelerate go-to-market strategies.

    The fund will especially focus on startups operating in cutting-edge domains such as artificial intelligence, machine learning, quantum computing, robotics, precision manufacturing, biotech, and semiconductor design, where long gestation periods and high capital requirements often pose hurdles. By mobilising patient capital, the Government aims to build a strong pipeline of indigenous technology solutions that can address national priorities and position India as a global innovation leader.

    This initiative reflects the Government’s commitment to nurturing a self-reliant and forward-looking startup ecosystem, where young innovators from every corner of India have equal access to resources and opportunities.

    Shri Goyal further urged SIDBI to establish at least one support centre in every state to provide basic infrastructure and shared facilities for early-stage entrepreneurs. Recalling his interaction with a startup that had invested in its own 3D printer due to the lack of shared facilities, the Minister stressed the importance of accessible prototyping resources.

    “We must unlock India’s full potential through facilitation, not regulation. The Government is here to support your journey, not control it,” he concluded.

    Shri Goyal called upon India’s youth to lead the way in emerging sectors like AI, semiconductors and deep-tech, and shape the nation’s path to Atmanirbhar Bharat.

    ***

    Abhishek Dayal / Abhijith Narayanan/ Ishita Biswas

    (Release ID: 2119385) Visitor Counter : 78

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: India Marks 62nd National Maritime Day Honouring Seafarers as the Nation Advances towards a Sustainable Maritime Future

    Source: Government of India

    India Marks 62nd National Maritime Day Honouring Seafarers as the Nation Advances towards a Sustainable Maritime Future

    “Prosperous Seas – Developed India and Youth for Blue Economy and Green Growth” was the theme of the this year’s Maritime Week 

    “The ocean connects us not just to trade, but to opportunity, growth, and national progress:” Sarbananda Sonowal

    Posted On: 05 APR 2025 7:59PM by PIB Delhi

    The Ministry of Ports, Shipping and Waterways (MoPSW) celebrated the 62nd National Maritime Day across the country with great enthusiasm and reverence, honouring India’s rich maritime heritage and the exceptional contribution of seafarers to the nation’s growth and global connectivity.

    This year’s theme, “Prosperous Seas – Developed India and Youth for Blue Economy and Green Growth,” reflected the importance of sustainable growth in the maritime sector and the critical role of youth in driving innovation and environmental stewardship.

    The National Maritime Day Celebration Committee (NMDCC), Delhi chapter, under the aegis of the Directorate General of Shipping, MoPSW, organised the central celebration at the Vinay Marg Sports Ground in New Delhi today. The function was graced by the Union Cabinet Minister for Ports, Shipping and Waterways, Shri Sarbananda Sonowal, as the Chief Guest.

    Speaking on the occasion, Union Minister Shri Sarbananda Sonowal said, “On National Maritime Day, we honour the unwavering spirit of our seafarers and the maritime community who keep India’s economy sailing forward. Under the visionary leadership of Prime Minister Shri Narendra Modi ji, we continue to strengthen our ports, empower coastal shipping, and embrace innovation. We reaffirm our commitment to making India a global maritime leader. The ocean connects us not just to trade, but to opportunity, growth, and national progress.”

    Week-long celebrations were held across the maritime sector, including flag pinning ceremonies for the Hon’ble Prime Minister and Governors of maritime states, blood donation camps, wreath-laying ceremonies to honour fallen seafarers, and national-level seminars on maritime development and the future of the Blue Economy.

    Adding further, Shri Sarbananda Sonowal said, “Under the visionary leadership of Hon’ble Prime Minister Shri Narendra Modi ji, India’s maritime sector is undergoing a historic transformation. With our vast Blue Economy, cutting-edge port infrastructure, and future-ready shipping ecosystem, the sector is emerging as a powerful force multiplier in our journey towards a ‘Viksit Bharat’. National Maritime Week is a celebration of our seafarers, our coastal communities, and our unwavering commitment to building a sustainable, secure, and globally competitive maritime future for India.”

    During the event, Shri Sonowal interacted warmly with the cadets during the refreshment session, engaging in meaningful conversations about their aspirations and training. The Union Minister interacted with female cadets, encouraging them to lead from the front in shaping the future of India’s maritime landscape. Shri Sarbananda Sonowal said, “Interacting with the young cadets on the sidelines of National Maritime Week was truly inspiring — their passion and commitment reflect the bright future of India’s maritime journey. I wished them best of luck and commended them for their most important role as the nation builders via a strong, vibrant, modern and efficient maritime sector.”

    To foster community engagement and promote a healthy maritime spirit, sporting events such as football, cricket, volleyball, javelin throw, relay races, and sprints were organised with active participation from maritime professionals. These activities underscored the values of teamwork, resilience, and camaraderie that are hallmarks of life at sea.

    The Ministry also recognised the outstanding services of individuals and organisations in the maritime sector by conferring awards and commendations to honour their dedication and achievements. The event was also attended by the Secretary (Shipping), Joint Secretary (Ports), Directors, and Under Secretaries from the Ministry, reflecting the strong institutional presence and commitment to maritime advancement. Around 510 trainees and faculty members participated in the event.

    The 62nd National Maritime Day not only honoured the legacy of India’s maritime pioneers but also reaffirmed the nation’s commitment to a greener, more inclusive, and innovation-driven maritime future. National Maritime Day commemorates the historic voyage of ‘S.S. Loyalty’, the first Indian-owned steamship, which sailed from Mumbai to London on April 5, 1919. This momentous event marked India’s foray into international shipping and laid the foundation for the nation’s proud maritime journey.


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  • MIL-OSI Asia-Pac: Government firmly committed to holistic development of minority communities: Shri Kiren Rijiju

    Source: Government of India

    Government firmly committed to holistic development of minority communities: Shri Kiren Rijiju

    Lok Samvardhan Parv to be inaugurated by Minority Affairs  Minister  at Srinagar tomorrow

    Parv being  organized by the Ministry of Minority Affairs  will run up to April 13, 2025

    Posted On: 05 APR 2025 5:13PM by PIB Delhi

    The Government of India is firmly committed to the holistic development of minority communities, with a special focus on artisans who represent the rich cultural and traditional legacy of our nation, stated Union Minister of Minority Affairs, Shri Kiren Rijiju, ahead of the grand inauguration of Lok Samvardhan Parv in Srinagar, Jammu & Kashmir.

    Reflecting the vision of ‘Sabka Saath, Sabka Vikas’, the Lok Samvardhan Parv will be inaugurated by the Minister at 3:00 PM tomorrow, at the Convention Centre Ground, Kashmir University, Srinagar. The event is being organized by the Ministry of Minority Affairs and will run up to April 13, 2025.

    Shri Omar Abdullah, Chief Minister of Jammu & Kashmir, will grace the occasion as the Chief Guest, and Shri George Kurian, Union Minister of State for Minority Affairs and Fisheries, Animal Husbandry & Dairying, will attend as the Guest of Honour. Several other dignitaries, senior government officials, and stakeholders from across the country are also expected to attend.

    The Lok Samvardhan Parv aims to provide a vibrant national platform for artisans and culinary experts from minority communities to showcase their crafts and traditional cuisines. Coinciding with the Tulip Season—a major tourist attraction—the event is expected to draw significant footfall, enhancing market exposure and livelihood opportunities for the participants.

    The exhibition will feature over 100 artisans from 25 States and Union Territories, presenting a diverse array of handicrafts including:

    • Kashmiri arts such as Carpet weaving, Paper Mâché, Sozni embroidery, Crewel, and Ari work
    • Shawls from Punjab
    • Handloom products from Uttarakhand
    • Traditional jewellery from Nagaland
    • Crochet work from Goa
    • Cane and bamboo products from Assam
    • Leather goods from Maharashtra
    • Matka Silk and Baswara Sarees from Bihar

    Additionally, 16 culinary experts from 12 States will offer a rich gastronomic journey through regional delicacies, including:

    • Kashmiri Wazwan
    • Gujarati cuisine
    • Bihar ka Swad
    • UP ki Chaat
    • Flavour & Fire Paan

    To further enrich the experience, daily evening cultural performances will celebrate the music, dance, and storytelling traditions of India’s minority communities.

    As a flagship initiative of the Ministry of Minority Affairs, Lok Samvardhan Parv aligns with the ‘Vocal for Local’ mission, dedicated to preserving and promoting traditional arts, crafts, and cuisines. The event underscores the Ministry’s ongoing commitment to empowering artisans through market linkages, skill development, and financial inclusion, in collaboration with various partner organizations.

    The Ministry of Minority Affairs warmly invites citizens, tourists, art lovers, and cultural enthusiasts to visit the Lok Samvardhan Parv and be part of this extraordinary celebration of India’s rich and diverse cultural heritage.

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  • MIL-OSI Asia-Pac: Fourth Candidate Open House hosted by the Ministry of Corporate Affairs

    Source: Government of India

    Fourth Candidate Open House hosted by the Ministry of Corporate Affairs

     Interns of the Prime Minister Internship Scheme share their holistic development journey

    ONGC Internships helping youth learn core skills, soft skills and contributing towards overall personality development: Skill Development Chief, ONGC India

    Posted On: 05 APR 2025 4:11PM by PIB Delhi

    As part of the fourth online ‘Candidate Open House’ hosted by the Ministry of Corporate Affairs on April 3, 2025, interns enrolled under the Prime Minister Internship Scheme shared their myriad experiences during the first few months of their ongoing internship. These Candidate Open Houses serve as a vital touchpoint for aspirants interested in the scheme, candidates navigating the registration and application process, current interns and industry.

    In the previous edition of the Open House (March 27, 2024), interns from the Mahindra group shared their experiences while Mr. Don Lewis, Head of Skill Development & Education at Mahindra’s Farm Division shared his views on how an internship can provide a strong foundation for professional growth. In this Open House, Anil Bahuguna, Chief of Skill Development at ONGC India, elaborated upon how internships in ONGC are helping youth learn core skills, soft skills and contributing towards overall personality development.

    Willkilinton Deori and Aditi Kashyap – both ONGC interns from Jorhat –  spoke about their internship journey so far covering multiple aspects.  For Willkilinton, the internship has already made him a more disciplined person. Since he is expected to go to his internship location daily (weekdays), Deori feels more aware about following a daily schedule and allocating adequate time to different activities. Aditi is involved in data processing in a hydrocarbon exploration project. Before this internship, she had only read about hydrocarbons in theory. Now as part of her internship, she is involved in data processing of hydrocarbons using a specialized software called ‘Geodesk’.

    Jaya Aishwariya, an intern from Karaikal, Puducherry, mentioned that she commutes 30 km to her internship location. On hearing this, Anil Bahuguna, Chief of Skill Development at ONGC India readily offered to provide accommodation near the site to facilitate her internship journey. Jaya spoke candidly, both in English and Tamil, eager to continue her internship and progress in her career. 

    Avi Rana, another intern from Delhi, shared that several classroom trainings were conducted on diverse topics such a human resource and finance by senior managers from ONGC. These sessions covered both technical knowledge and soft skills trainings – functions of HR, understanding and interpreting financial statements, knowledge of relevant digital tools, presentation skills and communication skills. Avi feels that she is now a more confident person because of the personality development trainings she’s been part of in her internship training. Even her ONGC supervisors agreed that the trainings have significantly helped mitigate her stage fright.

    Aditya and Venkat, interns from Andhra Pradesh, said that they feel very comfortable in their internship environment to interact with their supervisors and seek help in case of difficulties. Aditya also shared that interns receive a food reimbursement of up to ₹5,000 per month. Additionally, they are provided with accommodation facilities and travel by bus, just like full-time employees.

    All the interns shared experiences that symbolises the impact of the Prime Minister Internship Scheme in providing exposure to youth across India to professional environments in top companies of India for upskilling and a well-rounded professional experience.

    An integral part of this scheme is the participation form top companies to contribute towards enhancing employability of Indian youth. Mr.  Anil Bahuguna, Chief of Skill Development at ONGC India provided an overview of ONGC’s operations and its active involvement in the scheme, especially focusing on additional benefits provided by the company including additional financial assistance, accidental insurance, food allowance, accommodation, personal protection equipment etc. Like ONGC, over 200 participating companies are offering additional benefits such as subsidized or free meals, travel and accommodation assistance, reimbursements, and other forms of financial support to their interns.

    Mr. Bahuguna also spoke about ONGC’s efforts to ensure a holistic development experience for interns. For instance, Mr. Rajdeep Singh, former Indian hockey player and currently manager at ONGC conducts sessions with the interns to share his sporting career experiences and how they’ve shaped him as an individual.

    Furthermore, Mr. Bahuguna also explained  ONGC’s intern selection process and potential pathways to full time employment in companies engaged in hydrocarbon exploration & development business. ONGC on its part  is planning to encourage its service providers  to utilise services  of suitable ONGC trained interns post their internship . For this, ONGC will soon modify contractual terms with its service providers.

    MCA officials reiterated that the selection process has commenced for some of the internship opportunities and so the candidates should be alert on the portal and regularly check the status of their applications.  The application phase for Round 2 of the pilot phase of the Prime Minister Internship Scheme is currently underway and April 15, 2025, is the last date for eligible youth to apply.

    For more information visit: https://pminternship.mca.gov.in/

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  • MIL-OSI Asia-Pac: Ministry of Statistics and Programme Implementation organises Conference of State Government Ministers on Strengthening of Statistical Systems

    Source: Government of India

    Posted On: 05 APR 2025 6:48PM by PIB Delhi

    Ministry of Statistics and Programme Implementation (MoSPI) organized a Conference of State Government Ministers on Strengthening of Statistical Systems on 5th April, 2025 at Vigyan Bhawan, New Delhi.

    Rao Inderjit Singh, the Hon’ble Minister of State (Independent Charge), MoSPI, Ministry of Planning, and Minister of State (MoS) for the Ministry of Culture, chaired the Conference. In his inaugural address, he appreciated the participation and committed involvement of States / Union Territories (UTs) in the conference and underscored the indispensable role of reliable data in shaping effective policies and called for unified efforts to embrace innovation, foster coordination, and uphold transparency in statistical processes, in a continued journey towards attaining the vision of “Vikshit Bharat 2047” and invited cooperation from all the States/UTs to strengthen the national statistical system.

    Dr. Saurabh Garg, Secretary, MoSPI, emphasized the importance of robust statistical system for evidence-based policymaking. He highlighted key initiatives of MoSPI, including the Support for Statistical Strengthening (SSS) Scheme and appealed for participation in the National Sample Surveys (NSS). He stressed upon the need for having sub-state level estimates for more granularity. Concluding with a call for strengthened collaboration, he emphasized greater use of administrative and alternate data sources, use of modern technology in data collection, refining statistical frameworks to promote transparency, credibility, accountability, sustainable development and capacity building of States/UTs officials through NSSTA training programmes.

    Ms. Nandita Gorlosa, Hon’ble Minister of Sports & Youth Welfare, Welfare of Minorities & Development and Public Works (Buildings & National Highways) Departments, Govt. of Assam ; Shri Bijendra Prasad Yadav, Hon’ble Minister of Planning and Development, Govt. of Bihar; Shri Gaurav Gautam, Hon’ble Minister of Youth Empowerment and Entrepreneurship and Sports, Govt. of Haryana; Shri Radha Krishna Kishore, Hon’ble Minister, Department of Planning & Development, Govt. of Jharkhand; Dr. Vanlalthlana, Hon’ble Minister, Department of School Education/Higher and Technical Education/Information and Public relations/Information and Communication Technology, Govt. of Mizoram; Shri K K Vishnoi, Hon’ble Minister of Sports & Youth Affairs, Skill & Employment & Entrepreneurship Department, Government of Rajasthan; Shri Bikash Debbarma, Hon’ble Minister, Planning (Statistics) Department, Government of Tripura; Shri Suresh Kumar Khanna, Hon’ble Minister, Finance and Parliamentary Affairs, Govt. of Uttar Pradesh; Shri Saurabh Bahuguna, Hon’ble Minister of Minister of Animal Husbandry, Fisheries, Skill development & Employment, Protocol and Sugarcane Development, Govt. of Uttarakhand and Ms Chandrima Bhattacharya, Hon’ble Minister of State, Department of Planning, Statistics and Programme Monitoring, Govt. of West Bengal participated in the conference.

    The State Government Ministers/UT Administrators appreciated the Conference of State Government Ministers and suggested that this should be made a regular feature for better coordination and holistic development of the National Statistical System. They also highlighted the importance of producing relevant, accurate, and timely statistics at both the national and sub-national levels and emphasised on the key areas where deeper collaboration and partnership between the Centre and the States is crucial for strengthening both national and state statistical systems.

    Additional Chief Secretary, Secretary (Planning), Special Secretary, Director (DES) and other senior level officers from States/ UTs also participated in the conference and made their valuable suggestions.

    The workshop featured presentations on key aspects of statistical development and reforms, focusing on strengthening the national statistical system. Discussions covered the Support for Statistical Strengthening (SSS) Scheme, State participation in the National Sample Surveys (NSS) for district-level and advancements in sub-state level estimates for GDP, IIP, and CPI. Key topics also included statistical standards like NMDS 2.0 and unique identifiers, capacity building, innovation, and sub-national SDG monitoring frameworks. The focus of the conference was also on environment accounts, data dissemination through e-Sankhyiki, review of MPLADS and monitoring of major infrastructure projects, alongside major statistical reforms and achievements.

    The Hon’ble Minister, MoSPI also released its annual publication namely “Women and Men in India 2024: Selected Indicators and Data” and also launched the website of National Statistical Systems Training Academy (NSSTA) and the Micro-data Portal of MoSPI. In addition, Semantic Search on National Industrial Classification Code, developed during the recently concluded Hackathon in IIT Gandhinagar during March, 2025 was also showcased in the Conference.

    Through this conference, MoSPI gained a understanding of the specific needs and requirements of the States/UTs to improve their statistical systems, as well as to ascertain their expectations. The States appreciated the much needed financial support made by MoSPI through the Support for Statistical Strengthening Scheme, popularly known as the SSS Scheme, in augmenting the Statistical system of the States/UTs. Most of the states requested for support from MoSPI, in terms of technical assistance, training to state officials, setting up of training institutes / Centre of Excellence at State/UT level etc. Also, some States/UTs highlighted good initiatives made in their States for improvement of statistical systems, which are worth replicating in other States/UTs.

    The conference concluded on a positive note, fostering continued collaboration with the State/UT Governments.

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  • MIL-OSI Asia-Pac: Raksha Mantri reviews maritime security situation & Indian Navy’s operational readiness during the Phase-1 of the first Naval Commanders’ Conference of 2025 in Karwar

    Source: Government of India

    Raksha Mantri reviews maritime security situation & Indian Navy’s operational readiness during the Phase-1 of the first Naval Commanders’ Conference of 2025 in Karwar

    21st century is Asia’s century; It is our responsibility to ensure peace & prosperity in the Indo-Pacific region, says Shri Rajnath Singh

    India stands for a free, open & rule-based order; Assess changing circumstances and ensure planning, resourcing & exercising accordingly: RM to Commanders

    Posted On: 05 APR 2025 5:54PM by PIB Delhi

    Raksha Mantri Shri Rajnath Singh reviewed the maritime security situation, operational readiness of the Indian Navy, and the future outlook during the inaugural phase of the first Naval Commanders’ Conference of 2025 in Karwar, Karnataka on April 05, 2025. Raksha Mantri interacted with the Naval Commanders, with deliberations focussing on addressing contemporary security paradigms, formulating the way ahead to further the combat capability of the Navy, and addressing strategic, operational & administrative aspects. He was accompanied by Chief of Defence Staff General Anil Chauhan, Chief of the Naval Staff Admiral Dinesh K Tripathi, Defence Secretary Shri Rajesh Kumar Singh and other senior officials.

    Addressing the Commanders, Shri Rajnath Singh commended the Navy’s contribution in strengthening India’s maritime security, surpassing the expectations of the people in every situation, and displaying continued commitment towards serving the nation with new energy & innovation.

    Raksha Mantri asserted that it is a necessity to reorient the future roles of the Armed Forces amidst the present unpredictable geopolitical landscape. He referred to the acceptance of global experts that 21stcentury is Asia’s century and India will have a crucial role to play, stating “It is our responsibility to ensure peace and prosperity in the Indo-Pacific as the region has become a focal point for the world”.

    Shri Rajnath Singh reiterated that India stands for a free, open and rule-based order in accordance with the UN Convention on the Law of the Sea (UNCLOS), urging the Commanders to assess the changing circumstances and ensure planning, resourcing & exercising accordingly, while remaining alert and prepared. “Security is an ongoing adaptation process, wherein there is a need to keep assessing, planning, and coming out with new ideas. We need to analyse how India can make its role more effective,” he said.

    Emphasising that national security is of paramount importance to the Government, led by Prime Minister Shri Narendra Modi, Raksha Mantri stated that it has always been ensured that the requirements of the Armed Forces are fulfilled. “The speed at which the work of naval modernisation is being carried out for the last 10-11 years is unprecedented. Induction of new platforms, state-of-the-art equipment has significantly enhanced our Naval prowess and the morale of our brave sailors. It is a testimony to the fact that we are always standing with you in your preparations,” he said.

    On 2025 being declared as the ‘Year of Reforms’ in the Ministry of Defence, Shri Rajnath Singh called for concerted efforts of all stakeholders to fulfil their commitment to reforms. “There are two types of reforms. One is policy reforms which are carried out at the level of the Ministries. Many officers look into policy-related issues, obtain feedback from everyone and formulate policies accordingly. The second type is ground-level reform. Whether it is related to training, R&D, financial or manpower reforms, your role is most important in all these. Till the time there is no convergence of top-down approach and bottom-top approach, we will not be able to achieve our reforms’ goal in the right manner,” he told the Commanders.

    The conference is the apex-level, biannual event facilitating deliberations on significant strategic, operational, and administrative issues among the top Naval Commanders. It plays a pivotal role in emphasising India’s role as a ‘Preferred Security Partner’ in the Indian Ocean Region, bolstering the Navy’s contribution to regional peace, security, and stability.

     The second phase of the conference will be held in New Delhi from April 07 to 10, 2025, witnessing a comprehensive review of major operational, materiel, logistics, HR development, training, and administrative aspects. Chief of Defence Staff, Chief of the Army Staff & Chief of the Air Staff will also engage with Naval Commanders during the Conference to foster synergy amongst the three Services and further drive the convergence efforts.

    The Commanders will also engage with Foreign Secretary Shri Vikram Misri and Shri Amitabh Kant on issues related to foreign policy and international engagement. The Indian Navy’s quest to strengthen modernisation, indigenisation, and self-reliance in line with Government’s vision of Aatmanirbharta is the key focus area of the event.

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