NewzIntel.com

Category: Economy

  • MIL-OSI Economics: Phillips 66 completes acquisition of EPIC NGL

    Source: Phillips

    HOUSTON–(BUSINESS WIRE)– Phillips 66 (NYSE:PSX) announced today the completion of its previously announced acquisition of EPIC Y-Grade GP, LLC and EPIC Y-Grade, LP, which own various subsidiaries and long-haul natural gas liquids pipelines, fractionation facilities and distribution systems (“EPIC NGL”) for total cash consideration of approximately $2.2 billion.
    “This transaction strengthens our position as a leading integrated downstream energy provider,” said Don Baldridge, Phillips 66 executive vice president of Midstream & Chemicals. “We are evolving our portfolio and enhancing our ability to provide seamless and efficient delivery of energy products. Phillips 66 will offer producers unparalleled flow assurance, while advancing a strategy that is expected to deliver attractive returns and create long-term value for our shareholders.”
    The EPIC NGL business consists of two fractionators (170 MBD) near Corpus Christi, Texas, approximately 350 miles of purity distribution pipelines and an approximately 885-mile NGL pipeline (175 MBD) linking production supplies in the Delaware, Midland and Eagle Ford basins to fractionation complexes and the Phillips 66 Sweeny Hub.
    The expansion project from 175 MBD to 225 MBD for the NGL pipeline is expected to be completed in the second quarter. A second expansion to increase capacity to 350 MBD has already been sanctioned with completion expected in the fourth quarter of 2026.
    The acquired assets connect Permian production to Gulf Coast refiners, petrochemical companies and export markets, and are highly integrated with the Phillips 66 asset base.
    About Phillips 66
    Phillips 66 (NYSE: PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company’s portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn.

    Cautionary Statement for the Purposes of the “Safe Harbor” Provisions of the Private Securities Litigation Reform Act of 1995 — This news release contains forward-looking statements within the meaning of the federal securities laws. Words such as “anticipated,” “committed,” “estimated,” “expected,” “planned,” “scheduled,” “targeted,” “believe,” “continue,” “intend,” “will,” “would,” “could,” “objective,” “goal,” “project,” “efforts,” “strategies” and similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements included in this news release are based on management’s expectations, estimates and projections as of the date they are made. These statements are not guarantees of future events or performance, and you should not unduly rely on them as they involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include: the possibility that Phillips 66 may not fully realize the expected benefits of the completed transaction; the risk of any unexpected costs or expenses resulting from the completed transaction; changes in governmental policies or laws that relate to our operations, including regulations that seek to limit or restrict refining, marketing and midstream operations or regulate profits, pricing, or taxation of our products or feedstocks, or other regulations that restrict feedstock imports or product exports; our ability to timely obtain or maintain permits necessary for projects; fluctuations in NGL, crude oil, refined petroleum, renewable fuels and natural gas prices, and refining, marketing and petrochemical margins; the effects of any widespread public health crisis and its negative impact on commercial activity and demand for refined petroleum or renewable fuels products; changes to worldwide government policies relating to renewable fuels and greenhouse gas emissions that adversely affect programs including the renewable fuel standards program, low carbon fuel standards and tax credits for renewable fuels; potential liability from pending or future litigation; liability for remedial actions, including removal and reclamation obligations under existing or future environmental regulations; unexpected changes in costs for constructing, modifying or operating our facilities; our ability to successfully complete, or any material delay in the completion of, any asset disposition, acquisition, shutdown or conversion that we have announced or may pursue, including receipt of any necessary regulatory approvals or permits related thereto; unexpected difficulties in manufacturing, refining or transporting our products; the level and success of drilling and production volumes around our midstream assets; risks and uncertainties with respect to the actions of actual or potential competitive suppliers and transporters of refined petroleum products, renewable fuels or specialty products; lack of, or disruptions in, adequate and reliable transportation for our products; failure to complete construction of capital projects on time or within budget; our ability to comply with governmental regulations or make capital expenditures to maintain compliance with laws; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets, which may also impact our ability to repurchase shares and declare and pay dividends; potential disruption of our operations due to accidents, weather events, including as a result of climate change, acts of terrorism or cyberattacks; general domestic and international economic and political developments, including armed hostilities (such as the Russia-Ukraine war), expropriation of assets, and other diplomatic developments; international monetary conditions and exchange controls; changes in estimates or projections used to assess fair value of intangible assets, goodwill and property and equipment and/or strategic decisions with respect to our asset portfolio that cause impairment charges; investments required, or reduced demand for products, as a result of environmental rules and regulations; changes in tax, environmental and other laws and regulations (including alternative energy mandates); political and societal concerns about climate change that could result in changes to our business or increase expenditures, including litigation-related expenses; the operation, financing and distribution decisions of equity affiliates we do not control; and other economic, business, competitive and/or regulatory factors affecting our businesses generally as set forth in Phillips 66’s filings with the Securities and Exchange Commission. Phillips 66 is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

    Source: Phillips 66

    MIL OSI Economics –

  • MIL-OSI Russia: Dmitry Patrushev and the head of the Donetsk People’s Republic Denis Pushilin discussed issues of ecology and agriculture in the region

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Dmitry Patrushev held a working meeting with the head of the Donetsk People’s Republic Denis Pushilin

    April 1, 2025

    Dmitry Patrushev held a working meeting with the head of the Donetsk People’s Republic Denis Pushilin

    April 1, 2025

    Dmitry Patrushev held a working meeting with the head of the Donetsk People’s Republic Denis Pushilin

    April 1, 2025

    Previous news Next news

    Dmitry Patrushev held a working meeting with the head of the Donetsk People’s Republic Denis Pushilin

    Deputy Prime Minister Dmitry Patrushev held a working meeting with the head of the Donetsk People’s Republic Denis Pushilin. The parties summed up the results of the implementation of the national project “Ecology” in the region and discussed readiness to implement the new national project “Ecological Well-being”.

    Within the framework of the national project “Ecology”, the Donetsk People’s Republic participated in three federal projects: “Integrated system of handling municipal solid waste”, “Preservation of unique water bodies”, “Preservation of forests”. Under the new national project “Ecological well-being” for 2025, more than 150 million rubles are planned to be allocated for the region. In the DPR, activities of four federal projects will be implemented: “General cleaning”, “Closed-loop economy”, “Water of Russia”, “Preservation of forests”.

    The meeting also discussed preparations for the sowing campaign this year. Denis Pushilin noted that livestock production indicators are growing in the region’s agricultural sector. In 2024, milk production increased compared to the previous year and reached more than 48 thousand tons.

    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 Russia: Dmitry Patrushev: It is necessary to increase the efficiency of monitoring the use of subsoil licenses

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Dmitry Patrushev held a meeting dedicated to the subsoil fund management system

    April 1, 2025

    Dmitry Patrushev held a meeting dedicated to the subsoil fund management system

    April 1, 2025

    Previous news Next news

    Dmitry Patrushev held a meeting dedicated to the subsoil fund management system

    Deputy Prime Minister Dmitry Patrushev held a meeting dedicated to the subsoil fund management system. The Deputy Prime Minister discussed with the heads of relevant departments the factors influencing the high-quality and full implementation of mineral extraction licenses by subsoil users.

    “Mining is one of the leading sectors of our country’s economy. At the same time, uninterrupted mining requires continuous exploration and prospecting. This is the only way to guarantee sufficient reserves in the future. Despite the fact that the conditions for obtaining licenses are clearly regulated by law, practice shows that a number of companies do not fully fulfill their obligations. To improve existing mechanisms, it is necessary not only to use direct regulation, but also to set up economic incentive instruments so that companies have an interest,” said Dmitry Patrushev.

    The meeting discussed the effectiveness of the application procedure for issuing licenses for geological exploration of subsoil. Since the launch of such a mechanism in 2014, companies have invested about 100 billion rubles, about 700 deposits have been discovered, and reserves of key types of resources have increased. However, a negative consequence has been cases of companies obtaining licenses without the necessary capital and competencies. The Ministry of Natural Resources and Rosnedra will have to assess the current mechanism for each type of mineral resource.

    Dmitry Patrushev emphasized the need to improve the efficiency and coverage of monitoring the use of licenses, as well as the digitalization and automation of industry processes in this area.

    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 Russia: Dmitry Chernyshenko: 2.5 thousand students will receive 1 million rubles each for the implementation of technological startups

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Dmitry Chernyshenko: 2.5 thousand students will receive 1 million rubles each for the implementation of technological startups. On the right is the Minister of Science and Higher Education Valery Falkov

    The Ministry of Education and Science has announced a competition for grants called “Student Startup.” Applications can be submitted until May 20 atofficial website of the project.

    Deputy Prime Minister Dmitry Chernyshenko noted that the number of grant recipients increases annually.

    “President Vladimir Putin emphasizes that the share of youth technology entrepreneurship in the country’s economy should increase significantly in the coming years. The Government is currently implementing a number of measures aimed at this, including expanding the grant program for student startups. In 2025, 2.5 thousand students will receive grants of 1 million rubles to implement their ideas – 500 more than the year before. Absolutely all university students can participate in the competition. I am confident that such opportunities will allow young talents to reveal their potential and contribute to the technological future of Russia,” said the Deputy Prime Minister.

    Dmitry Chernyshenko also emphasized that over the entire period of the Student Startup grant competition, since 2022, 4.5 thousand startups have been supported. This competition is one of the seven tools of the University Technological Entrepreneurship Platform, which this year was included in the new federal project Technologies of the national project Effective and Competitive Economy.

    “Over three years, the competition has attracted more than 18,000 students from all over the country. If at the start of the project we received over 4,000 applications, then in 2024 their number doubled. This year, postgraduate students and residents of scientific organizations will be able to join the competition for the first time. Their involvement in the creation of technological startups will allow us to establish even closer ties between research institutes and businesses, shorten the path from an idea to its transformation into a real technology or product,” said Minister of Science and Higher Education Valery Falkov.

    The selection of projects for the Student Startup competition is carried out in seven thematic tracks, most of which correspond to priority areas of scientific and technological development in Russia: digital technologies, medicine and health-preserving technologies, chemical technologies and new materials, new devices and intelligent production technologies, biotechnology, resource-saving energy, creative industries. In 2024, the largest number of applications were submitted for digital technologies.

    If they win the competition, participants will have to register a legal entity, develop a business plan and launch a website for their startup.

    The operator of the Student Startup competition is the Innovation Assistance Fund. Detailed information is available on the competition page https: //fashi.ru/studstartend/ and in the competition regulations.

    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 USA: Governor Josh Stein Announces More NC Counties to Receive High-Speed Internet

    Source: US State of North Carolina

    Headline: Governor Josh Stein Announces More NC Counties to Receive High-Speed Internet

    Governor Josh Stein Announces More NC Counties to Receive High-Speed Internet
    lsaito

    Raleigh, NC

    Today, Governor Josh Stein announced more than $31 million in Completing Access to Broadband (CAB) program projects, which will connect 10,810 households and businesses in 14 counties to high-speed internet. 

    “No matter where you live in the state, you should have access to high-speed internet,” said Governor Josh Stein. “Broadband is critical to providing more economic opportunity to every corner of the state, and I am proud to create a stronger and more connected North Carolina for every person and small business owner.”

    “Thanks to these projects, North Carolinians across the state will be getting high-speed internet access so they can work, access online learning opportunities, participate in telehealth, and build a stronger state economy,” said NCDIT Secretary and State Chief Information Officer Teena Piccione. “We will continue to announce CAB project awards every two weeks throughout April in order to help connect more homes and businesses.”  

    These projects will be funded by more than $22.1 million from the federal American Rescue Plan, which is awarded by NCDIT, and by nearly $9.6 million from selected broadband providers:

    • Avery: SkyBest Communications, Inc. This award will provide high-speed internet access to 805 homes or businesses (99.38% of the county’s 810 eligible locations).
    • Beaufort: Connect Holding II, LLC (Brightspeed). This award will provide high-speed internet access to 414 homes or businesses (92.83% of the county’s 446 eligible locations).
    • Buncombe: Frontier Communications of the Carolinas, LLC. This award will provide high-speed internet access to 132 homes or businesses (6.35% of the county’s 2,079 eligible locations).
    • Cumberland: Connect Holding II, LLC (Brightspeed). This award will provide high-speed internet access to 496 homes or businesses (60.71% of the county’s 817 eligible locations).
    • Dare: Connect Holding II, LLC (Brightspeed). This award will provide high-speed internet access to 20 homes or businesses (19.61% of the county’s 102 eligible locations).
    • Hyde: Connect Holding II, LLC (Brightspeed). This award will provide high-speed internet access to 1,282 homes or businesses (95.25% of the county’s 1,346 eligible locations).
    • Jones: Connect Holding II, LLC (Brightspeed). This award will provide high-speed internet access to 79 homes or businesses (49.38% of the county’s 160 eligible locations).
    • Nash: Connect Holding II, LLC (Brightspeed). This award will provide high-speed internet access to 5,693 unserved and underserved homes or businesses (86.04% of the county’s 6,646 eligible locations).
    • Pamlico: Connect Holding II, LLC (Brightspeed). This award will provide high-speed internet access to 100 homes or businesses (61.35% of the county’s 163 eligible locations).
    • Pasquotank: Connect Holding II, LLC (Brightspeed). This award will provide high-speed internet access to 87 homes or businesses (84.47% of the county’s 103 eligible locations).
    • Swain: Zito West Holding, LLC (Zito Media). This award will provide high-speed internet access to 509 homes or businesses (42.74% of the county’s 1,191 eligible locations).
    • Transylvania: Citizens Telephone Company (Comporium Communications). This award will provide high-speed internet access to 473 homes or businesses (31.94% of the county’s 1,481 eligible locations).
    • Wake: Connect Holding II, LLC (Brightspeed). This award will provide high-speed internet access to 144 homes or businesses (11.51% of the county’s 1,251 eligible locations).
    • Yancey: French Broad Electric Membership Corporation. This award will provide high-speed internet access to 576 homes or businesses (80.67% of the county’s 714 eligible locations)

    The CAB program’s procurement process creates a partnership between counties and NCDIT to identify areas that need access and solicits proposals from prequalified internet service providers. Awardees must agree to provide high-speed service that reliably meets or exceeds speeds of 100 Mbps download and 100 Mbps upload.

    As part of Governor Josh Stein’s initiative to close the digital divide, these CAB program awards will be added in April to NCDIT’s dashboards, which show details and progress on programs funded by the federal American Rescue Plan Act. The awards add to the existing $516 million in Growing Rural Economies with Access to Technology (GREAT) grants, as well as previous CAB projects that will connect close to 190,000 North Carolina households and businesses to high-speed internet.

    For more information about the NCDIT Division of Broadband and Digital Opportunity, visit ncbroadband.gov.    

    Apr 1, 2025

    MIL OSI USA News –

  • MIL-OSI United Nations: Press Conference by Security Council President on Programme of Work for April

    Source: United Nations MIL OSI b

    The Security Council in April will convene two of its annual meetings on peacekeeping operations and on displaced persons and refugees at a “particular time for multilateralism” as “we are confronting a number of crises, including armed conflicts and funding”, its President for the month told reporters at a Headquarters conference today.

    “All of this is compelling multilateralism to think long and hard about its methods and about its capacities to tackle the challenges which it was established to address,” said Jérôme Bonnafont (France), who took up the French ambassadorship on 17 March and whose delegation holds the 15-member organ’s rotating presidency for this month.

    The above-mentioned meetings will convene on 7 April and 28 April focusing on peacekeeping operations and refugees and displaced persons, respectively.  On 2 April, the Council is also set to hold a briefing on the protection of civilians in armed conflict.

    Mr. Bonnafont told reporters that the UN’s principles are not just fundamental, “they are the bedrock of the multilateral system and international law”.  And in the Security Council, they must be harnessed for global peace and security.

    On the Ukrainian front, he said the question now is whether discussions will produce a ceasefire that leads to a just and lasting peace, underpinned by the principles enshrined in the United Nations Charter.  This must ensure respect for Ukraine’s territorial integrity.  “The Council must guide proceedings towards that outcome,” he stressed.

    In the Middle East, “we cannot rule out a regional escalation”, he warned, adding that the Council, on 29 April, will hold a meeting on the matter to be chaired by French Foreign Minister Jean-Noël Barrot.  The Council will also meet on Lebanon, Syria and Libya in April.

    The 15-member organ will focus on Africa, as well, holding several meetings throughout the month on the Democratic Republic of the Congo, Sudan and South Sudan, where entire populations have been compelled to flee, the French Permanent Representative said.  In the Americas region, the Council will hold a briefing on 21 April on Haiti, where there is “pressing need” for a UN mission, he added.

    Asked about the ceasefire in Ukraine, he said that the UN must support a peace that is based on the UN Charter, also noting relevant Council resolutions adopted last month.  “What is going on right now between the United States, Ukraine and the Russian Federation” must be “pushed in the right direction by the UN”, he went on to add.

    When asked about what “tools” the UN and European Union have in their toolbox to push talks in the right direction, he said that support to Ukraine from Europe is multifaceted.  “We are on the side of Ukraine which was aggressed by Russia,” he reiterated, also adding that Europe is financially and militarily supporting Kyiv, as well.

    Answering about Council “relevancy” in a time of protracted wars in Ukraine and Gaza, he said that the Council is actively working to develop processes, but that “there is no magical wand” to put an end to wars.  The Council has a mandate to support processes and deploy operations.  “It is no easy task,” he went on to emphasize, underscoring the importance of “political dynamics” to support peace on the ground.

    On Gaza’s humanitarian crisis and whether there could be a ceasefire achieved in April, he said work is being done to convince Hamas to liberate hostages with dignity.  Clearly, the bombing needs to stop, he said, urging Israeli forces to return to a ceasefire and calling on all parties to return to logic.  In the medium term, the international community must start preparing for Gaza’s reconstruction efforts.

    Asked about the security situation in Haiti, he said that the UN must deploy a mission there, but doing so is contingent on sufficient financing and logistical arrangements.  The security situation in that country, he stressed, is very complex and challenging.

    As to whether the Council will consider sanctioning Rwandan parties for their involvement in the Democratic Republic of the Congo, he said that mediation efforts are currently being supported including by Angola and Qatar.  The Council did express its view on the urgency of a ceasefire a few days ago, he noted.

    Responding to a question about protecting Syria’s minorities, he said the Council demanded that Syrian authorities act “as is expected of them, namely that they respect the civilian population and minorities”.  There is a transitional government in Syria “made up of people from different groups”.  For Syria to see a definitive return to peace, it must respect its own diversity and must be inclusive, he said.

    On the bombing of Lebanon, he said it is a very critical moment for Beirut, “which has a chance to engage in efforts for a lasting peace” and become a peaceful country that can coexist with its neighbours.

    For the full programme of work, please see:  www.un.org/securitycouncil/events/calendar.

    MIL OSI United Nations News –

  • MIL-OSI USA: Auditor General DeFoor, Rep. Hill-Evans Celebrate Start of Financial Literacy Month with Local Partners

    Source: US State of Pennsylvania

    April 01, 2025 – Harrisburg, PA

    Auditor General DeFoor, Rep. Hill-Evans Celebrate Start of Financial Literacy Month with Local Partners

    Auditor General Timothy L. DeFoor today joined Representative Carol Hill-Evans (D-York), Ryan Unger from the Harrisburg Chamber & CREDC, and Alex Halper from the PA Chamber of Business and Industry to recognize April as Financial Literacy Month in Pennsylvania. Representative Hill-Evans’ resolution, H.R. 120, is being considered by the House Finance Committee.

    “Financial literacy is an important life skill that every person needs to learn to set themselves up for future success,” Auditor General DeFoor said. “I’d like to thank Representative Hill-Evans for being an advocate and recognizing the importance of financial literacy through her resolution declaring that April is Financial Literacy Month in the commonwealth. By continuing to work together, we are one step closer to making Pennsylvania more financially secure.”

    MIL OSI USA News –

  • MIL-OSI USA: Governor Shapiro Stands With Pennsylvania Hardwoods Companies in Mifflin County to Highlight Commonwealth’s Investments in Agriculture Industry

    Source: US State of Pennsylvania

    April 01, 2025 – Reedsville, PA

    Governor Shapiro Stands With Pennsylvania Hardwoods Companies in Mifflin County to Highlight Commonwealth’s Investments in Agriculture Industry

    Governor Josh Shapiro and Pennsylvania Department of Agriculture Secretary Russell Redding visited Metzler Forest Products in Mifflin County to highlight how strategic Commonwealth investments – like the Shapiro Administration’s first-in-the-nation Agricultural Innovation Grant Program – are strengthening Pennsylvania’s agriculture industry, creating jobs, and driving economic growth. These investments provide grants, loans, and technical support to farmers and businesses adopting cutting-edge technologies, spurring growth, improving efficiency, and ensuring Pennsylvania remains at the forefront of the industry. During the visit, the Governor and Secretary Redding toured the facility to see how Metzler will use its $550,000 in grant funding – announced in January – to enhance biochar production, improve energy efficiency, and expand its manufacturing capabilities.

    Governor Shapiro’s visit comes amid growing economic uncertainty over new federal tariffs, particularly impacting Pennsylvania’s nation-leading hardwoods industry, which plays a critical role in the Commonwealth’s agriculture and manufacturing sectors. Since taking office, the Governor has placed significant emphasis on supporting and growing Pennsylvania’s agriculture industry – bringing Democrats and Republicans together to invest in new technologies, strengthen supply chains, and drive economic growth for farmers and producers. He remains committed to ensuring Pennsylvania’s farmers have the freedom to chart their own course and the opportunity to succeed. The Commonwealth is home to 50,000 farms, contributing $132 billion to the economy and supporting nearly 600,000 jobs.

    “From day one, my Administration has stood up for Pennsylvania’s farmers and our ag sector – investing in innovation, expanding opportunity, and cutting costs. While the federal government imposes policies that hurt our economy, Pennsylvania is leading the way in driving economic growth – investing in agricultural innovation, supporting our manufacturers, and delivering real results for farmers and their families,” said Governor Shapiro. “Tariffs are taxes, plain and simple. They make it harder for our farmers to do business, weaken their competitiveness in key markets, and trigger retaliatory tariffs on Pennsylvania goods. The last thing Pennsylvanians need is Washington, D.C., raising taxes and driving up costs I will keep working to cut costs, lower taxes, and create more economic opportunity for all Pennsylvanians.”

    Speaker list:
    Nate Metzler, General Manager, Metzler Forest Products
    Governor Josh Shapiro
    Stephanie Phillips-Taggart, Executive Director, Keystone Wood Products Association
    Nick Gilson, Founder & CEO, Gilson Snow
    Agriculture Secretary Russell Redding
    Mifflin County Commissioner Kevin Kodish

    MIL OSI USA News –

  • MIL-OSI: Element to Announce Q1 2025 Results and Host Conference Call on May 1, 2025

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, April 01, 2025 (GLOBE NEWSWIRE) — Element Fleet Management Corp. (TSX: EFN) (“Element” or the “Company”), the largest publicly traded, pure-play automotive fleet manager in the world, will hold its Q1 2025 results conference call and webcast for investors and analysts on Thursday, May 1, 2025 at 8:00 a.m. Eastern Time. Element’s financial results for the period will be issued after market close on Wednesday, April 30, 2025 and will be available on the Company’s website at elementfleet.com/investor-relations/public-disclosures.

    The conference call and webcast can be accessed as follows:

    Call Date: Thursday, May 1, 2025
    Call Time: 8:00 a.m. (Eastern Time)

    A taped recording of the conference call may be accessed through June 1, 2025 by dialing 1-855-669-9658 (Canada/U.S. Toll Free) or 1-412-317-0088 (International Toll) and entering the access code 2285919.

    About Element Fleet Management Corp.

    Element Fleet Management (TSX: EFN) is the largest publicly traded pure-play automotive fleet manager in the world. As a Purpose-driven company, we provide a full range of sustainable and intelligent mobility solutions to optimize and enhance fleet performance for our clients across North America, Australia, and New Zealand. Our services address every aspect of our clients’ fleet requirements, from vehicle acquisition, maintenance, route optimization, risk management, and remarketing, to advising on decarbonization efforts, integration of electric vehicles and managing the complexity of gradual fleet electrification. Clients benefit from Element’s expertise as one of the largest fleet solutions providers in its markets, offering economies of scale and insight used to reduce operating costs and enhance efficiency and performance. At Element, we maximize our clients’ fleet so they can focus on growing their business. For more information, please visit: https://www.elementfleet.com

    The MIL Network –

  • MIL-OSI USA: Presidential Message on National Financial Literacy Month, 2025

    US Senate News:

    Source: The White House
    The foundation of American economic prosperity is a society empowered with the knowledge and tools to make informed financial decisions to achieve the American Dream.  During National Financial Literacy Month, we commit to providing critical resources for every American, young and old, helping them invest in a brighter, more secure future.
    Financial independence allows each of us the opportunity to diligently save and freely invest in our robust, and rapidly evolving economy.  As part of my recent effort to strengthen American leadership in digital financial technology, my Administration is supporting the responsible growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy.  The United States is the best, most innovative  in the world, and we want everyone to invest in, and reap the benefits of, expanding our nation’s prosperity.
    Research shows financial literacy leads to greater investments, higher retirement savings, and ultimately more household wealth.  It is essential for fostering a healthy and efficient marketplace.  The Financial Literacy and Education Commission is a body chaired by the Secretary of the Treasury and comprised of the heads of 23 federal agencies and the White House Domestic Policy Council.  The Commission plays a pivotal role in financial literacy by assessing the effectiveness of financial education programs and promoting practices that empower American families.
    Upon taking office, I took immediate action to end the cost-of-living crisis, ordering all federal agencies to untangle the economy from crippling regulatory overreach—delivering long overdue relief to hardworking American families.  Under my leadership, we will continue to strengthen and support American families by eliminating taxes on tips, overtime, and Social Security while extending the historic tax cuts from my first term.  We are also deregulating and collaborating with employers and local partners to help Americans build more secure and prosperous futures for themselves and their families.
    We will never stop fighting to put more money back in the pockets of our overburdened taxpayers and to end the waste, fraud, and abuse in Government. With enhanced financial literacy, Americans are forging their own economic destinies free from unnecessary government interference.  As President, I will revive the American Dream, turning it from a relic of the past to a promise for the future in our new Golden Age.
    During this National Financial Literacy Month, I urge families, communities, schools, and institutions to commit to bolstering their financial knowledge.  There are amazing resources available to you and your family through the Department of the Treasury’s website that will assist you in making sound financial decisions.  Together, we can all protect each American’s right to economic freedom, securing the promise of prosperity for generations to come.

    MIL OSI USA News –

  • MIL-OSI Europe: Meeting of the Weimar+ – ministers back just and lasting peace in Ukraine

    Source: France-Diplomatie – Ministry of Foreign Affairs and International Development

    Published on April 1, 2025

    Joint statement by the foreign ministers of France, Germany, Italy, Poland, Spain and the United Kingdom and the High Representative of the Union for Foreign Affairs and Security Policy (March 31, 2025)

    Three days after the anniversary of the Bucha massacre, we reiterate our unwavering support for Ukraine’s independence, sovereignty and territorial integrity, and for a comprehensive, just and lasting peace based on the principles of the United Nations Charter and international law, building on our Warsaw Declaration of 19 November, our Berlin Declaration of 12 December and our Paris Declaration of 12 February.

    Ukraine has shown its strong commitment to peace, also by agreeing to a full ceasefire without preconditions. However, Russia’s aggression against Ukraine has not ceased. Instead of imposing new conditions and launching continued attacks on Ukrainian cities and infrastructure that cause more and more victims, Russia must now show it is serious about ending its war. We call on Russia to stop its delaying tactics and reciprocate by agreeing without delay, as Ukraine has done, to an immediate, unconditional ceasefire on equal terms and implementing it fully. We need to see progress within a clear timeframe.

    Building on the recent meetings in Paris and London, we took forward the discussion on how best to support a comprehensive, just and lasting peace in Ukraine, which is vital for Ukraine, for Europe and for the whole international community.

    We remain committed to further political, financial, economic, humanitarian, military and diplomatic support for Ukraine, together with our international partners. To this end, we will strengthen Ukraine through significant short- and long-term military support, also in the framework of Capability Coalitions and the Ukraine Defence Contact Group, which will hold its next meeting on 11 April. Many European partners, including the members of this group, have made substantive additional pledges to support Ukraine militarily and are planning similar commitments in the future.

    We also stand ready to apply further pressure on Russia using all tools available, including by adopting new sanctions, to hinder its ability to wage its war of aggression and to ensure Ukraine is placed in the best position possible to secure a just and lasting peace. We reiterate that Russia’s assets should remain immobilized until Russia ceases its war of aggression against Ukraine and compensates it for the damage caused.

    We are also strongly committed to ensuring full accountability for war crimes and the other most serious crimes committed in connection with Russia’s war of aggression against Ukraine. The progress made on establishing a Special Tribunal for the Crime of Aggression against Ukraine, within the framework of the Council of Europe, is an important step.

    A credible pathway to peace must include humanitarian relief efforts, notably the exchange of prisoners of war, the release of civilians and the return of all Ukrainian children and other civilians unlawfully deported and transferred to Russia and Belarus.

    We support efforts for a ceasefire that can lead to the establishment of a just and lasting peace. We welcome recent progress to define the essential elements for a viable and sustainable ceasefire, including a clear framework of monitoring and verification.

    Peace must be sustainable, backed by effective guarantees to prevent further acts of aggression. Real, robust and credible security guarantees for Ukraine are an indispensable element of a just and lasting peace, based on Ukraine’s sovereign right to determine its security relationships with its partners, and on the duty of the international community to prevent future Russian aggression. We stand ready to play a leading role in this regard.

    Peace must be just, and Russia’s war of aggression cannot end with a reward to the aggressor. There can be no agreement that compromises on Euro-Atlantic security and the independence, sovereignty territorial integrity of Ukraine. We will not accept any agreement that restricts Ukraine’s military and defence industry or the military presence of partner countries in Ukraine.

    We stand ready to do our share in order to achieve this peace. Europe now provides almost two-thirds of all support to Ukraine, and 60% of military aid. We reiterate our ironclad commitment to NATO as the bedrock of Euro-Atlantic security and commit to take on greater responsibility for the future of the security and defence of the European continent, aiming at a significant result at the summit in The Hague.

    We reiterate the inherent right of Ukraine to choose its own destiny and to defend its democracy. Ukraine’s future is in Europe and in the European Union, and Ukraine’s future is crucial for the security of Europe. Europe must be fully involved in the negotiations and will make its own decisions.

    We remain committed to supporting Ukraine’s repair, recovery and reconstruction, in coordination with international partners.

    We reaffirm our commitment to our democratic values, and to further engage with our global partners in order to promote together a just and lasting peace in Ukraine, based on the universal principles of the United Nations Charter.

    We reaffirm that Europe must assume more responsibility for its own security and become better equipped and deal with immediate and future challenges. (…)./.

    MIL OSI Europe News –

  • MIL-OSI USA: Rosen Helps Introduce Constitutional Amendment to Overturn Citizens United Ruling, Get Dark Money out of Politics

    US Senate News:

    Source: United States Senator Jacky Rosen (D-NV)

    WASHINGTON, DC – U.S. Senator Jacky Rosen (D-NV) helped introduce an amendment to the U.S. Constitution to overturn the Supreme Court’s disastrous Citizens United v. FEC decision, which overturned key federal campaign finance restrictions and enabled political entities to spend unlimited money to influence elections. The “Democracy for All” Amendment would also overturn other far-reaching judicial decisions around campaign finance that wrongfully equated money with free speech and unfairly determined that mega corporations have the same First Amendment rights as people.
    “Since the U.S. Supreme Court’s disastrous Citizens United decision, billionaires like Elon Musk have been pouring unlimited amounts of dark money in an effort to influence elections – increasing Washington gridlock,” said Senator Rosen. “Nevadans are sick and tired of mega-corporations and dark money special interest groups spending huge sums to influence our elections. Our Constitutional amendment will help root out dark money and limit excessive corporate campaign spending. I’ll keep pushing to pass this commonsense legislation that strengthens our democracy.”
    Senator Rosen has been a leading voice in the fight to clean up Washington and make it work for Nevadans. Last year, her bipartisan No CORRUPTION Act became law, barring Members of Congress from collecting taxpayer-funded pensions if they are convicted of felonies related to their official duties.
    Last Congress, Senator Rosen announced her support for legislation to reduce lobbyist influence in Washington and increase transparency and accountability in Congress.

    MIL OSI USA News –

  • MIL-OSI USA: Ways Community College Students Can Get Involved With NASA

    Source: NASA

    For many students, the path to a NASA career begins at a community college. These local, two-year institutions offer valuable flexibility and options to those aspiring to be part of the nation’s next generation STEM workforce. NASA offers several opportunities for community college students to expand their horizons, make connections with agency experts, add valuable NASA experiences to their resumes, and home in on the types of STEM roles that best fit their skills and interests. Below are some of the exciting NASA activities and experiences available to community college students.

    Get an introduction to NASA, its missions, and its workplace culture through NASA Community College Aerospace Scholars (NCAS). This three-part series enables students to advance their knowledge of the agency, grow their STEM capabilities, interact with NASA experts, and learn about the different pathways to a NASA career.
    Mission 1: Discover is a five-week, online orientation course that serves as an introduction to NASA.
    Mission 2: Explore is a gamified mission to the Moon or Mars in which students develop a design solution while learning about the agency as a workplace.
    Mission 3: Innovate is a three-week hybrid capstone project consisting of two weeks of online preparation and one week participating in a hands-on engineering design challenge at a NASA center.
    NCAS begins with Mission 1 and students must complete each mission to be eligible for the next.

    NASA’s student challenges and competitions invite students across a range of ages and education levels to innovate and build solutions to many of the agency’s spaceflight and aviation needs – and community college students across the U.S. are eligible for many of these opportunities. In NASA’s Student Launch challenge, each team designs, builds, and tests a high-powered rocket carrying a scientific or engineering payload. In the MUREP Innovation Tech Transfer Idea Competition (MITTIC)Teams from U.S.-designated Minority-Serving Institutions, including community colleges, have the opportunity to brainstorm and pitch new commercial products based on NASA technology.
    NASA’s student challenges and competitions are active at varying times throughout the year – new challenges are sometimes added, and existing opportunities evolve – so we recommend students visit the NASA STEM Opportunities and Activities page and research specific challenges to enable planning and preparation for future participation.

    Build an experiment and launch it aboard a sounding rocket! Through the hands-on RockOn! and RockSat programs, students gain experience designing and building an experiment to fly as a payload aboard a sounding rocket launched from NASA’s Wallops Flight Facility in Wallops Island, Virginia. In RockOn!, small teams get an introduction to creating a sounding rocket experiment, while RockSat-C and RockSat-X are more advanced experiment flight opportunities.

    Be a part of the NASA team! With a NASA internship, students work side-by-side with agency experts, gaining authentic workforce experience while contributing to projects that align with NASA’s goals. Internships are available in a wide variety of disciplines in STEM and beyond, including communications, finance, and more. Each student has a NASA mentor to help guide and coach them through their internship.

    The National Space Grant College and Fellowship Project, better known as Space Grant, is a national network of colleges and universities working to expand opportunities for students and the public to participate in NASA’s aeronautics and space projects. Each state has its own Space Grant Consortium that may provide STEM education and training programs; funding for scholarships and/or internships; and opportunities to take part in research projects, public outreach, state-level student challenges, and more. Programs, opportunities, and offerings vary by state; students should visit their state’s Space Grant Consortium website to find out about opportunities available near them.

    MIL OSI USA News –

  • MIL-OSI USA: Disaster Recovery Center in Wayne County, W.Va. Opening Wednesday, April 2, 2025

    Source: US Federal Emergency Management Agency

    Headline: Disaster Recovery Center in Wayne County, W

    Va

    Opening Wednesday, April 2, 2025

    Disaster Recovery Center in Wayne County, W

    Va

    Opening Wednesday, April 2, 2025

    CHARLESTON, W

    Va

    – A Disaster Recovery Center (DRC) will open in Wayne County at Tolsia High School at 8 a

    m

    , April 2, 2025

     FEMA encourages residents of the impacted counties to register for assistance, including homeowners and renters

     The center is located at: Wayne County Disaster Recovery CenterTolsia High School1 Rebel DriveFort Gay, WV 25514 Hours of operation:Monday through Friday: 8 a

    m

    to 6 p

    m

     Closed on Saturdays and Sundays Residents, both homeowners and renters, in Logan, McDowell, Mercer, Mingo, Wayne, and Wyoming counties who sustained losses can apply for assistance in several ways:Visiting DisasterAssistance

    gov

    Downloading the FEMA App

    Calling the FEMA Helpline at 800-621-3362

    Phone lines are open every day and help is available in most languages

    If you use a relay service such as video relay service (VRS) or captioned telephone service, please provide FEMA your number for that service

    Speaking with someone in person

    Disaster Survivor Assistance (DSA) teams will be on the ground in impacted communities, walking door-to-door to share information and help residents apply for FEMA assistance

    In coordination with the West Virginia Emergency Management Division (WVEMD) and officials in impacted counties, FEMA has opened Disaster Recovery Centers (DRCs) in Logan, Mercer, McDowell, Mingo, and Wyoming counties

    At a center, you can get help applying for federal assistance, update your application, and learn about other resources available

    The DRCs located in the table below remain open

    DRCs are open to all, including residents with mobility issues, impaired vision, and those who are who are Deaf or Hard of Hearing

     Logan County Disaster Recovery CenterMercer County Disaster Recovery CenterSouthern WV Community & Technical College100 College DriveLogan, WV 25601 Hours of operation:Monday to Friday: 9 a

    m

    to 6 p

    m

     Saturdays: 9 a

    m

    to 3 p

    m

    Closed Sundays  Lifeline Princeton Church of God250 Oakvale Road Princeton, WV 24740 Hours of operation:Monday to Friday: 9 a

    m

    to 5 p

    m

    Saturdays: 10 a

    m

    to 2 p

    m

    Closed Sundays Closed April 26McDowell County (Welch) Disaster Recovery Center McDowell County Disaster (Bradshaw) Recovery Center  Board of Education Office900 Mount View High School RoadWelch, WV 24801 Hours of operation:Monday through Friday: 8 a

    m

    to 6 p

    m

     Closed on Saturdays and SundaysBradshaw Town Hall10002 Marshall HwyBradshaw, WV 24817 Hours of operation:Monday to Saturday: 8 a

    m

    to 6 p

    m

    Closed SundaysMingo County Disaster Recovery CenterWyoming County Disaster Recovery CenterWilliamson Campus1601 Armory DriveWilliamson, WV 25661 Hours of operation:Monday through Friday: 8 a

    m

    to 6 p

    m

     Saturdays: 9 a

    m

    to 3 p

    m

    Closed on SundaysWyoming Court House24 Main AvePineville, WV 24874 Hours of operation:Monday through Friday: 8 a

    m

    to 6 p

    m

     Saturdays: 9 a

    m

    to 3 p

    m

    Closed on Sundays As a reminder, accepting FEMA funds will not affect eligibility for Social Security – including Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) – Medicare, Medicaid, Supplemental Nutrition Assistance Program (SNAP) benefits, or other federal benefit programs

     FEMA assistance does not need to be repaid, but residents should file insurance claims as soon as possible

    By law, FEMA cannot cover expenses that have already been covered by other sources like insurance, crowdfunding, local or state programs, donations, or financial assistance from voluntary agencies

    For more information on West Virginia’s disaster recovery, visit emd

    wv

    gov, West Virginia Emergency Management Division Facebook page, www

    fema

    gov/disaster/4861, and www

    facebook

    com/FEMA

     ### FEMA’s mission is helping people before, during and after disasters

    Follow FEMA online, on X @FEMA or @FEMAEspanol, on FEMA’s Facebook page or Espanol page and at FEMA’s YouTube account

    Also, follow on X FEMA_Cam

     For preparedness information, follow the Ready Campaign on X at @Ready

    gov, on Instagram @Ready

    gov or on the Ready Facebook page

       
    lianza

    yap
    Tue, 04/01/2025 – 12:59

    MIL OSI USA News –

  • MIL-OSI: XAI Madison Equity Premium Income Fund Declares Monthly Distributions of $0.06 per Share Payable on May 1, June 2, and July 1, 2025

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, April 01, 2025 (GLOBE NEWSWIRE) — XAI Madison Equity Premium Income Fund (the “Fund”), has declared its regular monthly distribution of $0.06 per share on the Fund’s common shares (NYSE: MCN) payable on May 1, 2025, June 2, 2025, and July 1, 2025. The total amount equals $0.18 and represents no change from the previous quarter’s distribution amount.

    As previously announced in its distribution declaration dated March 3, 2025, the Fund has changed its distribution frequency from quarterly to monthly, effective with the April 1, 2025 declaration. XA Investments believes this change will enable investors to better manage their cash flow needs.

    The following dates apply to the declaration:  

    Ex-Dividend Date Record Date Payable Date Amount Per Share
    April 15, 2025 April 15, 2025 May 1, 2025 $0.06
    May 15, 2025 May 15, 2025 June 2, 2025 $0.06
    June 16, 2025 June 16, 2025 July 1, 2025 $0.06
    Total Amount of Monthly Distributions $0.18
         
    Change from Previous Quarter            No Change
     

    Common share distributions may be paid from net investment income (regular interest and dividends), capital gains and/or a return of capital. The specific tax characteristics of the distributions will be reported to the Fund’s common shareholders on Form 1099 after the end of the 2025 calendar year. Shareholders should not assume that the source of a distribution from the Fund is net income or profit. For further information regarding the Fund’s distributions, please visit www.xainvestments.com.

    The Fund’s net investment income and capital gain can vary significantly over time; however, the Fund seeks to maintain more stable common share quarterly distributions over time. The Fund’s final taxable income for the current fiscal year will not be known until the Fund’s tax returns are filed.

    As a registered investment company, the Fund is subject to a 4% excise tax that is imposed if the Fund does not distribute to common shareholders by the end of any calendar year at least the sum of (i) 98% of its ordinary income (not taking into account any capital gain or loss) for the calendar year and (ii) 98.2% of its capital gain in excess of its capital loss (adjusted for certain ordinary losses) for a one-year period generally ending on December 31 of the calendar year (unless an election is made to use the Fund’s fiscal year). In certain circumstances, the Fund may elect to retain income or capital gain to the extent that the Board of Trustees, in consultation with Fund management, determines it to be in the interest of shareholders to do so.

    The common share distributions paid by the Fund for any particular period may be more than the amount of net investment income from that period. As a result, all or a portion of a distribution may be a return of capital, which is in effect a partial return of the amount a common shareholder invested in the Fund, up to the amount of the common shareholder’s tax basis in their common shares, which would reduce such tax basis. Although a return of capital may not be taxable, it will generally increase the common shareholder’s potential gain, or reduce the common shareholder’s potential loss, on any subsequent sale or other disposition of common shares.

    Future common share distributions will be made if and when declared by the Fund’s Board of Trustees, based on a consideration of number of factors, including the Fund’s net investment income, financial performance and available cash. There can be no assurance that the amount or timing of common share distributions in the future will be equal or similar to that described herein or that the Board of Trustees will not decide to suspend or discontinue the payment of common share distributions in the future.

    The Fund’s objective is to achieve a high level of current income and current capital gains, with long-term capital appreciation as a secondary objective. The Fund intends to pursue its objective by investing in a portfolio of common stocks and utilizing an option strategy, primarily by writing (selling) covered call options on a substantial portion of the common stocks in the portfolio in order to generate current income and gains from option writing premiums and, to a lesser extent, from dividends. Market action can impact dividend issuance as the Fund’s total assets affect the Fund’s future dividend prospects. The Fund provides additional information on its website at www.xainvestments.com.

    About XA Investments

    XA Investments LLC (“XAI”) serves as the Trust’s investment adviser. XAI is a Chicago-based firm founded by XMS Capital Partners in 2016. XAI serves as the investment adviser for two listed closed-end funds and an interval closed-end fund. The listed closed-end funds, the XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) and XAI Madison Equity Premium Income Fund (NYSE: MCN) both trade on the New York Stock Exchange. The interval closed-end fund, Octagon XAI CLO Income Fund (OCTIX), is newly launched and has been made widely available to investors.

    In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including development and market research, sales, marketing, and fund management.

    XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. XAI provides individual investors with access to institutional-caliber alternative managers. For more information, please visit www.xainvestments.com.

    About XMS Capital Partners
    XMS Capital Partners, LLC, established in 2006, is a global, independent, financial services firm providing M&A, corporate advisory and asset management services to clients. It has offices in Chicago, Boston and London. For more information, please visit www.xmscapital.com.

    About Madison Investments
    Madison Investments is an independent investment management firm based in Madison, WI. The firm was founded in 1974, has approximately $28 billion in assets under management as of December 31, 2024, and is recognized as one of the nation’s top investment firms. Madison offers domestic fixed income, U.S. and international equity, covered call, multi-asset, insurance and credit union investment management strategies. For more information, please visit www.madisoninvestments.com.

    Madison and/or Madison Investments is the unifying tradename of Madison Investment Holdings, Inc., Madison Asset Management, LLC, and Madison Investment Advisors, LLC. Madison Funds are distributed by MFD Distributor, LLC. Madison is registered as an investment adviser with the U.S. Securities and Exchange Commission. MFD Distributor, LLC is registered with the U.S. Securities and Exchange Commission as a broker-dealer and is a member firm of the Financial Industry Regulatory Authority www.finra.org.

    XAI does not provide tax advice; please consult a professional tax advisor regarding your specific tax situation. Income may be subject to state and local taxes, as well as the federal alternative minimum tax.

    Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the Fund carefully before investing. For more information on the Fund, please visit the Fund’s webpage at www.xainvestments.com.

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

    NOT FDIC INSURED     NO BANK GUARANTEE MAY LOSE VALUE
         

    Media Contact:

    Kimberly Flynn, President
    XA Investments LLC
    Phone:  888-903-3358
    Email: KFlynn@XAInvestments.com
    www.xainvestments.com

    The MIL Network –

  • MIL-OSI Asia-Pac: Union Minister Shri Ashwini Vaishnaw Stresses Need for Techno-Legal Framework to Address Emerging New-Age Crimes and to Ensure Prompt Investigation and Bringing Criminals to Justice for Effective Prosecution

    Source: Government of India

    Union Minister Shri Ashwini Vaishnaw Stresses Need for Techno-Legal Framework to Address Emerging New-Age Crimes and to Ensure Prompt Investigation and Bringing Criminals to Justice for Effective Prosecution

    Technical knowhow of India’s academia, scientists and researchers should be harnessed to bring about technological solutions in investigations

    Union Minister Urges CBI to Establish State-of-the-Art Cyber Forensic Labs in Collaboration with Academia

    Amid Deepfake & AI challenges, Ashwini Vaishnaw says the Future of Effective Criminal Justice lies in combining legal frameworks with Technological Capability and Institutional innovation

    Shri Ashwini Vaishnaw delivers 21st D.P. Kohli Memorial Lecture on CBI’s 62nd Foundation Day, presents police medals to 26 officers

    Union Minister highlights CBI’s role in justice and outlines four key pillars of India’s growth strategy

    Posted On: 01 APR 2025 5:46PM by PIB Delhi

    Shri Ashwini Vaishnaw, Hon’ble Minister of Railways, Information & Broadcasting, and Electronics & IT, addressed the 21st D.P. Kohli Memorial Lecture on CBI’s 62nd Foundation Day held today at Bharat Mandapam, New Delhi. Speaking on the theme ‘VIKSIT BHARAT @ 2047 – A Roadmap for CBI’, the Minister outlined a strategic vision for the agency’s role in India’s progress over the next two decades. During the event, President’s Police Medals (PPM) for Distinguished Service and Police Medals (PM) for Meritorious Service to CBI officers were presented acknowledging their dedication and exceptional contributions.

    In his address, Sh. Ashwini Vaishnaw elaborated the important role played by CBI over the years in bringing out truth through in depth & professional investigation and in bringing criminals to justice through effective prosecution. He further said “Our academia, our scientists, our researchers today possess remarkable strength and capabilities. This strength must be harnessed by investigating agencies, law officers, and government departments to co-develop technological solutions. Law alone will not be sufficient, we need techno-legal approach to address the challenges posed by new-age crimes and investigation,” the Minister emphasized.

    Union Minister urged the Central Bureau of Investigation (CBI) to take the lead in building state-of-the-art cyber forensic laboratories by actively partnering with academic and research institutions. He further highlighted the need for institutional frameworks that facilitate such collaborations and suggested that Ministries and Departments such as MeitY, Department of Telecommunications (DoT), and Department of Science and Technology (DST) work closely with investigative agencies to co-create technologies required for modern-day law enforcement.

    The Minister’s remarks come in the backdrop of rapid technological evolution, including challenges posed by artificial intelligence, deepfakes, and cyber-enabled crimes. He stressed that the future of effective criminal justice lies in combining legal frameworks with technological capability and institutional innovation.

    Reflecting on India’s transformative journey over the past decade, the Minister noted the country’s rapid economic growth, strong governance, and technological leadership. He further highlighted four pillars of growth strategy in the last decade, first, public investment in physical, social and digital infrastructure, second a large number of inclusive growth programs, third a strong focus on manufacturing and innovation and fourth, simplification of legal and compliance structures.

    First Pillar: Public Investment In Physical, Social and Digital infrastructure

    The first pillar of India’s growth strategy focuses on significant investments in social, physical and digital infrastructure, including the construction of national highways, new airports, and the electrification of railways. The Minister said that under the leadership of Prime Minister Shri Narendra Modi, India has democratized technology with over 118 crore telecom subscribers, 70 crore smartphone users, and a robust AI ecosystem to support innovation. In social infrastructure, India has also expanded educational opportunities by opening 490 new universities and increasing the capacity of IITs, IIMs, and AIIMS.

    Second Pillar: Inclusive Growth

    The second pillar of India’s growth strategy focuses on inclusive growth, ensuring that economic progress translates into real improvements in people’s lives. Over the past decade, 54 crore new bank accounts have been opened, 4 crore houses built, and 12 crore tap water connections provided. In addition, 35 crore citizens are part of the Ayushman Bharat program, with more than 25 crore citizens coming out of poverty and improved access to essential services for millions.

    Third Pillar: Strong Focus on Manufacturing and Innovation

    The third pillar of India’s growth strategy emphasizes manufacturing and innovation, shifting the country from a services-based economy to a manufacturing hub. Initiatives like Make in India and Startup India have spurred growth, with electronics becoming the third-largest export and India becoming the second-largest mobile manufacturer globally. Key successes include developments in the semiconductor, defense, telecom sector, and the launch of high-speed Vande Bharat trains.

    Fourth Pillar: Simplification of legal and compliance structures

    The fourth pillar of India’s growth strategy focuses on simplification by eliminating outdated colonial-era laws. Over 1,500 archaic laws have been removed, and new frameworks like the Bharatiya Nyaya Sanhita (BNS) and Bharatiya Nagarik Suraksha Sanhita (BNSS) have replaced old legal structures such as the IPC and CrPC. This simplification process is paving the way for a more modern and efficient legal system.

    CBI Director, Shri Praveen Sood welcomed the guests on the occasion. Attorney General of India, Central Vigilance Commissioner, Director IB, Director ED, Heads of NIA & Central Paramilitary Forces graced the occasion. Police Liaison Officers (PLOs) of other countries, also attended the event.

    Following officers & officials of CBI were presented the medals by the Honb’le Minister for Distinguished and Meritorious Service: 

    (i)         President’s Police Medals (PPM) for Distinguished Service were presented to :

    1.         Shri K. Pradeep Kumar, SP, CBI, ACB, Jammu;

    2.         Shri Naresh Kumar Sharma, ASP, CBI, Special Unit, New Delhi;

    3.         Shri Mukesh Kumar, ASP, CBI, AC-II, New Delhi;

    4.         Shri Ramji Lal Jat, Head Constable, CBI, ACB, Jaipur (Now Retired) and

    5.         Shri Raj Kumar, Head Constable, CBI, Head Office, New Delhi

     

    (ii)        Police Medals (PM) for Meritorious Service were presented to:

     

    1.         Shri Raghavendra Vatsa, IPS (GJ:05), then DIG-HoB, CBI, ACB, New Delhi  (presently in the cadre as IGP, Gujarat Police);

    2.         Ms. Sharada Pandurang Raut, IPS (MH:05) then DIG- HoB, CBI, EOB, Mumbai (presently in the cadre as Jt. Commissioner, S.I.D., Maharashtra  Mumbai);

    3.         Shri Prem Kumar Gautam, IPS (UP:05), then DIG – HoB, CBI, SU, New Delhi (presently in the cadre as IGP, Prayagraj Range, Uttar Pradesh);

    4.         Shri Manoj Chaladan, DLA, CBI, ACB, Mumbai;

    5.         Shri Srinivas Pillari, Principal System Analyst, CBI, ACB, Kolkata (Now posted at Systems Division, Delhi Branch);

    6.         Shri K. Madhusudhanan, DSP, CBI, ACB, Visakhapatnam;

    7.         Shri Ajay Kumar, DSP (Now ASP) CBI, Policy Division, New Delhi;

    8.         Shri Balwinder Singh, Inspector, CBI, SCB, Chandigarh;

    9.         Shri Chitti Babu N., Inspector, CBI, ACB, Hyderabad;

    10.       Shri Manoj Kumar, Inspector, CBI, HO, New Delhi (presently in his parent force & posted at CISF, CGBS Unit Mahipalpur, New Delhi);

    11.       Shri Rahul Kumar, Inspector, CBI, EOB, Kolkata (presently in his force & posted at CISF Unit SMP, Kolkata);

    12.       Shri Rajeev Sharma, Inspector, CBI,HO, New Delhi;

    13.       Shri S. Nanda Kumar, Assistant Sub Inspector, CBI, SU, Chennai;

    14.       Shri Suresh Prasad Shukla, Head Constable, CBI, ACB, Jabalpur  (now posted at CBI, BSFB Mumbai);

    15.       Shri Rajesh Kumar, Head Constable, CBI, HO, New Delhi;

    16.       Shri Om Prakash Daloutra, Head Constable, CBI, ACB, Jammu;

    17.       Shri Randhir Singh, Head Constable, CBI, ACB, Jaipur;

    18.       Shri Pawan Kumar, Constable, CBI, SC-I, NewDelhi;

    19.       Shri Tejpal Singh, Constable, CBI, Policy Division, New Delhi;

    20.       Shri Atul Sareen, Crime Assistant, CBI, Policy Division, New Delhi and

    21.       Shri Subra Mohanty, Steno Gr.-II, CBI, ACB, Bhubaneswar

    About the event

    CBI pays its respect and homage to its founder Director late Shri Dharamnath Prasad Kohli and has been organizing the D.P. Kohli Memorial Lecture since the year 2000.

    Shri Dharamnath Prasad Kohli was born in 1907 in Uttar Pradesh (UP), India. After joining Police Service in 1931, he served in UP, erstwhile Madhya Bharat and the Government of India. He had distinguished career in the Indian Police. He headed Delhi Special Police Establishment (DSPE) from July 1955 to March 1963. On creation of Central Bureau of Investigation, on 1st April, 1963, Shri D.P. Kohli became its founder Director and continued as its Director from 1963 till his retirement on May 31, 1968.

    The lecture series has been honoured to feature highly distinguished speakers and luminaries from various fields who share their insights and experience on pertinent topics. The lecture series is intended to contribute to fostering dialogue, sharing knowledge, and advancing the understanding of challenges and solutions in the realm of law enforcement, criminal justice system and criminal investigation. The D.P. Kohli Memorial Lecture serves as an apt tribute to Shri D.P. Kohli’s vision and legacy in establishing the CBI as a premier investigating and prosecuting agency. It also underscores the agency’s commitment to upholding integrity, accountability, and excellence in its operations as enshrined in CBI’s motto Industry, Impartiality and Integrity.

    The Central Bureau of Investigation was established by a Government of India resolution dated 1st April, 1963 to investigate not only cases of bribery and corruption, but also violation of central fiscal laws, serious crimes besides collecting supporting intelligence. Over the last more than six decades, the Central Bureau of Investigation has emerged as a premier investigating and prosecuting agency of the country covering entire gamut of crimes including emerging new age crimes like cyber enabled financial crimes, online CSAM (Child Sexual Abuse Material), etc. CBI as the National Central Bureau for INTERPOL in India also coordinates international cooperation in law enforcement.

    The function was also webcast live Union Minister Ashwini Vaishnaw Delivers the 21st D.P. Kohli Memorial Lecture at Bharat Mandapam

    ****

     

    Dharmendra Tewari/ Navin Sreejith

    (Release ID: 2117361) Visitor Counter : 126

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Government has Strengthened IBC with Six Amendments and 122 Regulatory reforms since its inception

    Source: Government of India

    Government has Strengthened IBC with Six Amendments and 122 Regulatory reforms since its inception

    Over 8,000 CIRPs initiated, rescuing 3,485 debtors and realization of ₹3.58 lakh crore

    Posted On: 01 APR 2025 6:29PM by PIB Delhi

    The legislative intent of the Insolvency and Bankruptcy Code, 2016 (IBC) is to provide a consolidated framework for reorganization, insolvency resolution and liquidation of corporate persons, partnership firms and individuals for maximization of the value of assets. Further, IBC has had a significant impact on the health of the country’s banking sector and redefined the debtor creditor relationship. 

     According to the RBI Report on Trend and Progress of Banking in India (December 2024), the IBC emerged as the dominant recovery route, accounting for 48% of all recoveries made by banks, followed by the SARFAESI Act (32%), Debt Recovery Tribunals (17%), and Lok Adalats (3%) in the Financial Year 2023-24.   Additionally, a report by the Indian Institute of Management Ahmedabad (IIM-A) (August 2023; available at www.ibbi.gov.in), analysed the financial performance of firms that underwent resolution under the IBC and found significant improvements in the profitability, liquidity, and overall financial health of resolved firms in the post-resolution period. These findings underscore the positive impact of IBC on business continuity and value preservation.

     Till 31st December 2024, 8175 Corporate Insolvency Resolution Processes (CIRPs) have been initiated. Of these, 3485 Corporate Debtors (CDs) have been rescued which includes 1119 through resolution plans; 1236 through appeal or review or settlement and 1130 through withdrawal under section 12A. Further, 2707 CDs have been referred for liquidation.  In 1119 cases that have yielded resolution plans, the realisable value for the creditors have been ₹3.58 lakh crore. This amounts to 162.79% of liquidation value and 87.58% of fair value.

     To facilitate expeditious resolution process under Insolvency and Bankruptcy Code, 2016 (IBC) and to ensure proper implementation of the provisions of IBC, the Government has made six amendments to the IBC and 122 amendments in regulations since inception of IBC. Further, regular training and capacity-building programs for insolvency professionals, adjudicating authorities and other stakeholders are held to improve the overall efficiency and effectiveness of the IBC ecosystem.  Leveraging information technology such as digital platforms for automation and streamlining processes is another initiative to make the system more efficient, accurate, and faster, ultimately leading to better outcomes for all stakeholders.

    The Minister of State in the Ministry of Corporate Affairs and Minister of State in the Ministry of Road Transport and Highways, Shri Harsh Malhotra stated this in a written reply in Rajya Sabha  today.

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  • MIL-OSI Asia-Pac: Banking Regulation Amendment Act 2020 has enhanced RBI’s Supervision Over Co-operative Banks

    Source: Government of India

    Banking Regulation Amendment Act 2020 has enhanced RBI’s Supervision Over Co-operative Banks

    RBI’s 2024 Master Direction on Fraud Management aims to enhance accountability and strengthen governance in Co-operative banks among many other steps

    Amendments in Multi-State Co-operative Societies (MSCS) Act, 2002 Strengthen  Governance and Transparency of cooperative societies; provision of Ombudsman

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

    The Banking Regulation Act, 1949 has been amended to provide additional powers to RBI for more effective regulation of Co-operative banks vide Banking Regulation (Amendment) Act, 2020. The major amendments pertain to areas such as management, audit, capital, reconstruction/ amalgamation, etc. The provisions of the Act have been brought into force for Urban Co-operative Banks (UCBs) with effect from 26.06.2020. Post these amendments, interalia, the governance/management related provisions of the BR Act, (such as Section 10,10A,10B,35B,36AB, etc.), have become applicable to co-operative banks.

    Further, the following measures are in place to prevent corruption and irregularities in cooperative banks:

    •  RBI has issued Master Direction on Fraud Management for the Regulated Entities viz.  Cooperative Banks in 2024 which contain comprehensive guidelines related to reporting of fraud, following of principles of natural justice, governance mechanism, implementation of early warning mechanism, staff accountability, fixation of responsibility of third parties and role of external and internal auditors, among others. 
    • The Prompt Corrective Action (PCA) Framework requires the identified UCBs to initiate and implement remedial measures in a timely manner, to restore their financial health and protect the interests of the depositors.
    • RBI has implemented a financial safety net for the account holders of banks (including cooperative banks) in the form of Deposit Insurance through DICGC.
    • RBI through “RBI Kehta Hai” has issued awareness material / useful information on aspects such as different types of frauds and their modus-operandi.
    • Amendment has been brought in the Multi-State Co-operative Societies (MSCS) Act, 2002 to strengthen governance, enhance transparency, increase accountability, reform electoral process and incorporate provisions of 97th Constitutional Amendment in the Multi State Cooperative Societies.
    • Following the amendment in the Multi–State Cooperative Societies (MSCS) Act, 2002, Cooperative Ombudsman has been appointed under Section 85A of the said Act. The Ombudsman office deals with complaints or appeals, from members of the MSCS regarding their deposits, equitable benefits of the Multi–State Co-operative Society’s functioning or any other issue affecting the individual rights of the concerned member.
    • The Cooperative Election Authority has been set up to strengthen governance and accountability, with a mandate to conduct free and fair election in all Multi-State Cooperative Societies.
    • NABARD has framed guidelines for banks to report frauds to law enforcement agencies, viz State Police, State CID/Economic Offense Wing of the State, etc. for further investigation and appropriate action.

    The Ministry of Cooperation (MoC) is responsible for strengthening of cooperative movement in the country and deepening its reach upto the grassroots to realise the vision of “from cooperation to prosperity”. They also promote the cooperative-based economic development model, including the creation of appropriate policy, legal and institutional framework to help cooperatives realise their potential. MoC also organizes training of personnel of co-operative institutions, including education of members, office bearers and non-officials.

    This information was given by Minister of State in the Ministry of Finance Shri Pankaj Chaudhary in a written reply to a question in Rajya Sabha today.

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  • MIL-OSI Asia-Pac: UIDAI’s AI-Powered Aadhaar Face Authentication sees over 130.5 Crore transactions, revolutionizing biometric verification

    Source: Government of India

    UIDAI’s AI-Powered Aadhaar Face Authentication sees over 130.5 Crore transactions, revolutionizing biometric verification

    Face Authentication solution sees 21.6% monthly growth in March, serving millions nationwide and becoming trusted solution for fintech, government services and more

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

    The AI and machine learning (ML) based Aadhaar Face Authentication solutions developed in house by the Unique Identification Authority of India (UIDAI) has been witnessing a massive growth with over 78% of the total transactions coming alone in the FY 25 fiscal year, ended 31 March 2025.

    Transforming service delivery across India

    Since the face authentication solution was introduced in October 2022, UIDAI has recorded a cumulative transaction number of over 130.5 crore, of which close to 102 crores have been recorded in the 2024-25 financial year. It indicates the growing usage, adoption of this solution and how it is benefiting Aadhaar number holders seamlessly.

    In the past 3 months (January-March), nearly 39.5 crore face authentication transactions have been recorded. In March alone, the face auth solutions have recorded more than 15.25 crore transactions, a 21.6% jump over the previous month.

    This achievement underscores the trust and adoption of this new biometric authentication modality across diverse sectors including fintech, finance and telecommunications.

    Dozens of government services offered by both the centre and states are using it for smooth delivery of benefits to targeted beneficiaries. Several flagship schemes including PM Awas (Urban), PM E-Drive, PM-JAY, PM Ujjwala, PM Kisan, PM Internship, are using Aadhaar face authentication.

    Face authentication is also working as a robust alternative and helping senior citizens and all those who have issues with the quality of their fingerprints due to several reasons including manual work or health issues.

    As of now, 102 entities both in government and private sector are using Aadhaar face authentication. This AI based modality works both on Android and iOS platforms. It is safe against any video replay attacks and static photo authentication attempts by anti-social elements and a contactless, anytime- anywhere modality.

    This authentication modality enables users to verify their identity with just a face scan, ensuring convenience while upholding stringent security standards.

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  • MIL-OSI Asia-Pac: Transparency and Accountability under Pradhan Mantri Awaas Yojana Gramin (PMAY-G)

    Source: Government of India

    Posted On: 01 APR 2025 6:11PM by PIB Delhi

    The identification of beneficiaries under Pradhan Mantri Awaas Yojana Gramin (PMAY-G) is based on the housing deprivation parameters and exclusion criteria prescribed under Socio Economic Caste Census (SECC)-2011 and due verification by the respective Gram Sabhas and completion of an Appellate Process. These parameters/criteria were applied on SECC 2011 database & Awass+2018 to identify the eligibility of beneficiaries under PMAY-G.

    The Union Cabinet has approved the extension of PMAY-G for 5 more years (FY 2024-25 to 2028-29) to provide assistance for the construction of 2 crore additional rural houses. The Cabinet has also approved the updating of the Awaas+ List using modified exclusion criteria. A new survey is being conducted by the states/UTs using the technology-based (eKYC face based authentication) solutions to maximize transparency and ensure sanctity in the process right from the identification to completion of the houses as per the detailed below:

    1. Awaas+ 2024 app- a unique app specially designed under the Pradhan Mantri Awaas Yojana-Gramin (PMAY-G), having features of assisted survey through pre-registered surveyors, housing technology selection, face authentication, Aadhar based e-KYC, data capture of household, conditions of the existing house, time stamped, and geo tagged photo capture of existing house proposed site of construction. The app works in online as well as offline mode. “Self-Survey” facility is available for eligible household in Awaas+2024 app Survey for next phase of PMAYG (2024-29).
    2. Usage of AI/ML model to curb fraudulent activity and provide information about possible malpractices.
    3. Recommendation System – This module identifies various house attributes such as pucca wall, pucca roof, kutcha wall, kutcha roof, logo, window, door, and person in the uploaded photos of a completed house and recommends a final photograph for approval.
    4. e-KYC feature – The app is integrated with Aadhaar and uses AI-enabled face authentication technology to conduct verification of PMAY-G beneficiaries.
    5. Liveliness Detection: Eye Blink/ Motion detection feature in Awaas App for identification of the beneficiaries.
    6. 100% Aadhaar-Based Payments: Directly transferred to beneficiaries’ accounts.

    The unit assistance provided to beneficiaries under PMAY-G is as per the approval of the Union Cabinet and at present the unit assistance of Rs. 1.20 lakh in plain areas and Rs. 1.30 lakh in North Eastern States, Hilly States (including UTs of J&K and Ladakh) is provided. The funding pattern between the Centre and the State for the NER States and Himalayan States [Uttarakhand, Himachal Pradesh and Jammu and Kashmir (UT)] is 90:10 whereas for the rest of the States is 60:40 and for Union Territories without legislature, 100% funding are borne by the Centre.

    In addition to the unit assistance, the beneficiaries are facilitated with 90/95 man days of unskilled labour wages through mandatory convergence with Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS). Support of Rs. 12,000 for construction of a toilet is also provided through Swacch Bharat Mission – Gramin (SBM-G), MGNREGS or any other dedicated source of funding.

    Some of the States/UTs are also providing top-up financial support over and above unit assistance to the PMAY-G beneficiaries for the house construction. To further support affordability, the scheme incorporates State-specific housing designs and promotes the use of local materials, reducing costs and environmental impact.

    Under the scheme, to provide PMAY-G beneficiaries with the maximum number of benefits from different schemes, convergence with other schemes is encouraged. The guideline aids with the construction of toilets to be leveraged through convergence with SBM-G, MGNREGS, or any other dedicated source of funding. Convergence for piped drinking water, electricity connection, LPG gas connection, solar lanterns and cleaner cooking energy, solar roof-top, fulfilment of requirement of construction material through MGNREGS and linkage with SHGs platform for livelihood opportunities under Government programs is also being done.

    This information was given by Minister of State for Rural Development Dr. Chandra Sekhar Pemmasani in a written reply in Lok Sabha today.

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  • MIL-OSI Asia-Pac: India – Chile Joint Statement (April 01, 2025)

    Source: Government of India

    Posted On: 01 APR 2025 6:11PM by PIB Delhi

    At the invitation of Prime Minister of India, Shri Narendra Modi, the President of the Republic of Chile, H.E. Mr. Gabriel Boric Font is on a State visit to India from 1-5 April, 2025, commemorating the completion of 76 years of diplomatic relations between the two countries. President Boric is accompanied by Ministers of Foreign Affairs, Agriculture, Mining, Women and Gender Equality and Cultures, Arts and Heritage, Members of Parliament, Senior Officials and a large number of business leaders. Apart from New Delhi, President Boric will visit Agra, Mumbai and Bengaluru. This is the first visit of President Boric to India. Both President Boric and Prime Minister Modi had first met on the sidelines of the G20 Summit in Rio de Janeiro in November 2024.

    President Boric was accorded a warm and ceremonial welcome on arrival at Air Force Station Palam. Prime Minister Modi held bilateral talks with President Boric at Hyderabad House on 1 April 2025. He met President Droupadi Murmu who also hosted a Banquet in his honour and his accompanying delegation. Dr S Jaishankar, External Affairs Minister of India called on President Boric.

    President Boric and Prime Minister Modi recalled the historic diplomatic ties that were established in 1949, growing trade linkages, people-to-people linkages, cultural ties and also the warm and cordial bilateral relations between both countries. They expressed desire for further expanding and deepening of the multifaceted relationship between the two countries in all areas of mutual interests.

    During their meeting, the two leaders comprehensively reviewed the entire gamut of bilateral relations spanning a wide range of sectors, including trade and investment, health and pharmaceuticals, defence and security, infrastructure, mining and mineral resources, agriculture and food security, green energy, ICT, digitization, innovation, disaster management, cooperation in science and technology, education and people-to-people linkages. The two sides agreed to continue regular exchanges at various levels to give further momentum to the bilateral relationship.

    The two leaders noted that trade and commerce has been a strong pillar of the bilateral relations. While highlighting the positive effects generated by the expansion of the India-Chile Preferential Trade Agreement in May 2017, which has resulted in substantial increase in bilateral trade, the two leaders emphasized the need for further strengthening of bilateral trade mechanisms that could open new opportunities for expansion of bilateral trade. The two leaders expressed satisfaction at the recent increase in visits of business delegations from both sides, which is strengthening trade and economic relations between the two countries. Prime Minister Modi thanked President Boric for bringing in a large business delegation, which will help in intensifying business interaction between the two countries. Both agreed to continue the discussions for further enhancement of the trade relations.

    President Boric conveyed that India is a priority partner for Chile in the global economy and stressed the need to explore strategies for enhanced and diversified trade between the two countries. The President and the Prime Minister acknowledged signing of the mutually agreed Terms of Reference and welcomed the launch of a Comprehensive Economic Partnership Agreement (CEPA) negotiations for a balanced, ambitious, comprehensive, and mutually beneficial agreement to achieve a deeper economic integration. The CEPA will aim at unlocking the full potential of the trade and commercial relationship between India and Chile, boosting employment, bilateral trade, and economic growth.

    To further promote trade relations as well as people-to-people interactions, President Boric announced Chile’s decision to grant a Multiple Entry Permit for Indian businesspersons which will streamline the visa process. Prime Minister Modi welcomed and valued this measure, as it reflects the willingness of both parties to facilitate trade and investment and the shared commitment to deepening bilateral relations between Chile and India. Acknowledging the people-to-people linkages as an important pillar to promote bilateral ties and to facilitate business, tourism, student and academic exchanges, Indian side has already put in place a flexible visa regime, including by extending e-visa facility for Chilean travellers to India.

    Both leaders recognised the strategic importance of critical minerals for emerging technologies, advanced manufacturing, and clean energy transitions, both leaders agreed to accelerate collaboration in exploration, mining and processing along with research and development to promote investment across the entire critical mineral value chain for mutual benefit. They stressed on the need for building trusted and resilient supply chains including for critical minerals and advanced materials. The two sides agreed to work together on initiatives to strengthen supply chains and local value chains by fostering mutually beneficial partnerships and understandings in mining and minerals, including the possibility of long-term supply of minerals and materials from Chile to India.

    Both leaders agreed to explore the opening up of new avenues for cooperation in health and pharmaceuticals, space, ICT, agriculture, green energy, traditional medicine, Antarctica, Science & Technology, management of natural disasters, sports, Startups, cooperatives, and audiovisual co-production, through the exchange of experiences and good practices among the agencies responsible for these matters.

    President Boric acknowledged the role of the Indian pharmaceutical industry as one of the world leaders, and an important partner for Chile in the supply of affordable and high-quality products. Both sides agreed to facilitate private sectors of the two countries to increase trade in pharmaceuticals, vaccines, and medical devices. Both sides agreed to work on enhancing cooperation in healthcare and pharmaceuticals sectors and address market access issues for Indian pharmaceuticals, as well as advancing in the recognition of Indian Pharmacopoeia by Chile.

    The two leaders noted the importance of traditional medicines and Yoga in preserving health and wellbeing of people and directed their officials for an early conclusion of the Memorandum of Understanding on Traditional Medicines to promote a more sustainable lifestyle. Towards this, both countries agreed to collaborate and intensify the promotion and use of evidence-based, integrative, Traditional Medicine, Homeopathy, and Yoga by signing an MoU.

    Both sides agreed to work on promoting investments in infrastructure projects in each other’s countries. Chilean side welcomed Indian companies to participate in infrastructure projects including in railway sector.

    The two leaders encouraged the two sides to work together to explore substantial areas for bilateral defence cooperation, including capacity building and defence industrial collaboration. Both agreed to share knowledge in developing and enhancing each other’s capabilities under the existing formal defence cooperation agreement in place. Indian side highlighted that Chile has been kept on priority while offering opportunities in training at Defence Services Staff College, NDC, NDA and HDMC, apart from slots for specialised courses in mountain warfare and peacekeeping operations previously made available. Indian side expressed its desire to receive and train Chilean military in areas of mutual interests.

    Both leaders expressed their happiness on signing of the Letter of Intent to strengthen existing Antarctic cooperation, which will further facilitate partnership in Conservation of Antarctic Marine Living Resources agendas bilateral dialogues, joint initiatives and academic exchanges related to Antarctica and Antarctic policy. Both India and Chile are Consultative Parties to the Antarctic Treaty and reaffirmed their commitment to deepen scientific understanding of Antarctic for the benefit of both parties and the global community.

    The two sides welcomed the adoption and opening for signature of the Agreement on Marine Biodiversity of Areas beyond National Jurisdiction (BBNJ), as a key legal framework for the conservation and sustainable use of marine biodiversity in areas beyond national jurisdiction and reiterated the resolve of their respective countries to preserve, protect and promote biodiversity, from land to sea, and agreed to work together and support each other in international forums dealing with these issues. Both countries reaffirmed their intention to strengthen a vision from the Global South in multilateralism, through cooperation and joint efforts, based on the principle of Common but Differentiated Responsibilities and the right to development.

    Recalling the two countries’ decades-long partnership in space, the two leaders noted the ongoing engagements in the space sector between the two countries, including the launching of a satellite belonging to Chile (SUCHAI-1) by India in 2017 as a co-passenger under a commercial arrangement. Both leaders emphasized the importance of further cooperation to promote training and capacity building and research in space and astrophysics. In this regard, they welcomed the constitution of Space Executive Committee by Chile to work on cooperation including in the areas of exploration in space, R&D, training, satellite building, launch and operation and peaceful use of outer space with ISRO, IN-SPACe (Indian National Space Promotion and Authorization Centre) and Startups.

    Both leaders noted their respective dynamic information and digital technology sectors and stressed the need to explore synergies to enhance cooperation in this field. They expressed mutual interest in growth of investment, joint ventures, technological development and markets in the IT and digital space, including promoting collaboration in Digital Public Infrastructures (DPI), thereby democratizing access to digital services for people and businesses. Both leaders acknowledged the efforts by the two sides in exploring early implementation of cooperation in the digital payments sectors. They committed to work for developing closer cooperation between the vibrant Startup ecosystems of the two countries. Both leaders expressed their desire for advancing on signing of an understanding on cooperation in the areas of Digital Transformation to facilitate deeper engagement between tech communities of both countries.

    The leaders reaffirmed their commitment to reformed multilateralism and for comprehensive reforms of the UN Security Council, including its expansion in both permanent and non-permanent categories of membership to make it more representative, accountable, transparent, inclusive and effective, reflecting the geopolitical realities of the 21st Century. The Chilean side reiterated its support for India’s candidature for a permanent membership in a reformed and expanded UN Security Council. The two sides agreed to work together for promotion of democratic principles and human rights to strengthen the world peace stressing the importance of resolving all disputes through peaceful dialogue.

    Both leaders reaffirmed their unequivocal condemnation of terrorism in all its forms and manifestations, including cross border terrorism and shared their resolve to stand together in common fight against global terrorism. They agreed that terrorism must be combated through concerted global actions.

    The two leaders called upon all UN member countries to implement the UNSC Resolution 1267 and work towards eliminating terrorist safe havens and infrastructure and disrupt terrorist networks and all terror financing channels. Both reiterated their commitment to work together in Financial Action Task Force (FATF), No Money For Terror (NMFT) and other multilateral platforms to combat terrorism. The two leaders also reiterated the importance of early finalization of Comprehensive Convention on International Terrorism.

    The two leaders committed themselves to the vision of a rules-based international order that respects sovereignty and territorial integrity of nations, ensures freedom of navigation and overflight as well as unimpeded lawful commerce, and that seeks peaceful resolution of disputes in accordance with universally recognized principles of international law, notably the UNCLOS.

    Prime Minister Modi appreciated the participation of Chile in all the three editions of the “Voice of Global South” Summits, reflecting the commitment in bringing together countries of the Global South to share their development perspectives and priorities. Prime Minister Modi thanked President Boric for sharing his valuable perspectives and ideas at the 3rd Voice of Global South Summit held in August 2024 and noted that both countries have strong convergence on several contemporary global issues, including on the need for effective global governance reforms and equitable access for Global South countries to clean and green technologies. President Boric welcomed India’s leadership in strengthening engagements between countries of Global South.

    President Boric appreciated India’s leadership in G20 which brought the development agenda to centre stage and acknowledged the transformative and inclusive role of technology, with a focus on unlocking the potential of digital public infrastructure (DPI). Both Leaders recognized that India’s G20 Presidency has championed Voice of the Global South by bringing to fore key initiatives and outcomes, such as inclusion of African Union in G20, promotion of Lifestyles for sustainable development (LiFE), advancements in Digital Public Infrastructure (DPI), reforms of Multilateral Development Banks (MDBs) and focus on women-led development. In this regard, and with the aim of promoting greater integration and representativeness within the G20, India will support the inclusion of Chile and Latin American countries in the discussions as G20′ guest countries.

    The two sides recognized the challenges for their economies presented by climate change and the transition to low emissions climate resilient economies. Accordingly, they expressed keen desire to promote clean energy and sustainable development through development of more efficient energy technologies. The two leaders called for increased joint investments in renewable energy, green hydrogen, utilization and storage technologies, energy efficiency, and other low-carbon solutions that will have the potential to accelerate sustainable economic growth and foster job creation.

    President Boric welcomed India’s leadership in the International Solar Alliance (ISA) and reiterated strong support as a member since November 2023. Prime Minister Modi appreciated Chile joining the Coalition for Disaster Resilient Infrastructure (CDRI) in January 2021 aiming to make systems and infrastructure resilient to achieve the objectives of Sustainable Development Goals (SDGs). Additionally, both leaders valued Chile’s offer of hosting the 7th Meeting of the ISA Regional Committee for Latin America and the Caribbean.

    Recognizing the growing significance of technology enabled learning solutions, skills development, and institutional capacity building, India and Chile reaffirmed their commitment to expanding bilateral cooperation in these areas. Both countries have agreed to facilitate partnerships between EdCIL (India) Limited and key Chilean institutions, including the Council of Rectors of Chilean Universities (CRUCH), the Chilean Ministry of Education, and technical training centres (CFTs), thereby focusing on digital learning, research exchanges, smart education infrastructure, and vocational training programs, leveraging the strengths of both nations to drive innovation and knowledge-sharing in education.

    Prime Minister Modi, highlighting the transformational changes taking place in education sector in India under National Education Policy (NEP) 2020, encouraged leading Chilean universities to strengthen academic and research partnerships with Indian institutions and build institutional linkages through joint/dual degree and twinning arrangements. Given mutual strengths of both countries in astronomy and astrophysics, both leaders agreed to strengthen institutional engagements in these domains. The two leaders welcomed the proposal for establishment of an ICCR Chair on Indian Studies in one of the universities in Chile and directed the officials to examine the feasibility for an early implementation.

    Both leaders welcomed the ongoing cooperation in training and capacity building in the field of diplomacy and noted the potential for further enhancement for cooperation in this area, in line with global diplomatic endeavours and new technology making diplomacy more efficient.

    The two leaders acknowledged the role of cultural ties in bringing the people of the two countries closer to each other. They lauded the rich and diverse cultural heritage of India and Chile and appreciated the long-standing cultural exchanges between the two nations. The leaders applauded the growing interest in the study of the cultures and languages in both countries with Spanish being among the popular foreign languages in India. They stressed the mutual interest in further strengthening India – Chile cultural cooperation and the reinforcement of cooperation among cultural institutions of the two countries. They welcomed the signing of new Cultural Exchange Program to promote bilateral exchanges in music, dance, theatre, literature, museums and festivals.

    The two leaders expressed satisfaction on the progress made to finalise the agreement on cooperation and mutual assistance in customs matters which will lead to strengthening linkages between the relevant agencies to counter illicit trafficking of narcotic drugs and psychotropic substances and, in general, to investigate, prevent and suppress contraventions of Customs laws, as well as sharing of best practices and capacity building. They also welcomed the efforts by two sides to sign an agreement on cooperation in the disability sector which would contribute to a more humane and just society where no one is left behind. The two leaders directed their officials to conclude these documents at an early date.

    Both leaders agreed on the importance of maintaining regular interaction on matters of mutual interest. They reiterated their willingness to build on opportunities to promote and expand the bonds of cooperation and understanding that characterizes the bilateral relationship.

    President Gabriel Boric thanked Prime Minister Narendra Modi for warmth and hospitality accorded to him and his delegation during the visit and invited him to pay an official visit to Chile at a mutually convenient time.

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  • MIL-OSI Asia-Pac: Competition Commission of India (CCI) approves acquisition of additional voting rights by certain shareholders of Billionbrains Garage Ventures Private Limited (Groww) and issuance of bonus compulsorily convertible preference shares to all existing equity shareholders of Groww

    Source: Government of India

    Posted On: 01 APR 2025 6:31PM by PIB Delhi

    The Competition Commission of India has approved the acquisition of additional voting rights by certain shareholders of Billionbrains Garage Ventures Private Limited (Groww) and issuance of bonus compulsorily convertible preference shares to all existing equity shareholders of Groww.

    The Proposed Combination comprises of: (i) collapse of the differential voting rights held by the Founders of Groww; and (ii) the bonus compulsorily convertible preference shares to be issued to all existing equity shareholders of Groww (namely Peak XV Partners Investments VI-1, Ribbit Capital V L.P., Ribbit Cayman GW Holdings V, Ltd., and GW-E Ribbit Opportunity V, LLC, YCCG21, L.P., and YC Holdings II, LLC, Internet Fund VI Pte. Ltd., ICONIQ Strategic Partners VI, L.P. and ICONIQ Strategic Partners VI-B, L.P. and Founders of Groww).

    Peak XV Partners Investments VI-1 is an investment fund of Peak XV Partners, a venture capital and growth investing firm primarily focused on investing in startups in India and South East Asia region.

    Ribbit Capital V L.P., Ribbit Cayman GW Holdings V, Ltd., and GW-E Ribbit Opportunity V, LLC (collectively, Ribbit) is a global investment organization that invests in early-stage companies.

    YCCG21, L.P., and YC Holdings II, LLC (collectively, YC) is a startup accelerator and early-stage venture investor.

    Internet Fund VI Pte. Ltd. (Tiger Global) is held by funds ultimately managed by Tiger Global Management, LLC and is primarily an investment holding company.

    ICONIQ Strategic Partners VI, L.P. and ICONIQ Strategic Partners VI-B, L.P. (collectively referred to as ICONIQ) are private equity funds managed by ICONIQ Strategic Management, LLC.

    Groww, through its affiliates, operates an online trading platform and mobile application called “Groww”, which inter alia allows investors to invest in stocks, mutual funds and other financial instruments. Groww, through its affiliates, also has its own asset management business (as a mutual fund house).

    Detailed order of the Commission will follow.

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  • MIL-OSI Asia-Pac: BREED IMPROVEMENT UNDER NLM

    Source: Government of India

    Posted On: 01 APR 2025 5:12PM by PIB Delhi

    The National Livestock Mission (NLM), launched in 2014-15, underwent revision and realignment in the 2021-22 financial year. The revamped scheme focuses on employment generation, entrepreneurship development, and enhancing per-animal productivity, thereby aiming to increase the production of meat, goat milk, eggs, and wool under the development programme umbrella. Further modifications were introduced on 21st February 2024, incorporating breed upgradation of camels, horses, and donkeys, along with initiatives for fodder production utilizing wastelands, rangelands, and degraded forest land. The Department has published revised Comprehensive NLM Guidelines in January 2025 and has also finalized the Model DPRs. Both the guidelines and Model DPRs are available on the NLM portal: https://nlm.udyamimitra.in/. It is still too early to assess the impact of components including camels, horses, donkeys, and mules under the scheme on their population.

    To promote activities under the realigned NLM, the Department has organized several key events during the current financial year, including the One-Day Event on Camelids in Rajasthan, the First National Goat Conclave: Bakri Maha Kumbh and National Symposium on Policy and Strategies for the Indian Goat Sector in Amrit Kaal in Uttar Pradesh, the Entrepreneurship Development Conclave 2025 in Maharashtra, and the Conclave on the Theme “Dialogue for Holistic Development of the Livestock Sector” in Meghalaya .Additionally, during Regional Review Meetings, states were advised to submit proposals and enhance awareness regarding these initiatives.

    Under the National Livestock Mission – Entrepreneurship Development Programme (NLM-EDP), 116 projects with a total project cost of ₹108.26 crore and a subsidy of ₹47.42 crore were approved for 106 individuals, one joint applicant, three FPOs, two cooperatives, one Joint Liability Group, and three Section 8 companies for feed and fodder processing activities, including silage, TMR, hay, and fodder blocks. These projects are at different stages of implementation. The total project cost approved for the Section 8 companies amounts to ₹3.09 crore, with a capital subsidy of ₹1.46 crore.

    Under the component “Assistance for Quality Fodder Seed Production” of the NLM scheme, 1.03 lakh tonnes of quality fodder seeds have been produced since 2021-22, with funds amounting to ₹636.83 crore. This is expected to cover approximately 20.63 lakh hectares, leading to an estimated production of 1134.65 lakh metric tonnes of high-quality, nutritious green fodder across the country.

    To promote livestock insurance, the beneficiary share of the premium for all categories and areas has been reduced to 15 percent, down from the earlier premium of 20 to 50 percent. The remaining premium is borne by the central and state governments in a 90:10 ratio for hilly and north-eastern states, 60:40 for other states, and 100 percent for union territories. The Department is actively conducting awareness programs, including seminars, camps, publicity campaigns, and video conferences, to promote livestock insurance. For this purpose, the Department of Animal Husbandry and Dairying is providing financial assistance to state governments. Under the National Livestock Mission scheme, full central assistance is provided to states for awareness and publicity efforts. Additionally, during Regional Review Meetings, states are advised to enhance insurance coverage. In the current financial year, Rs. 37.92 crore has been released under the livestock insurance activity of the National Livestock Mission, and 21lakh animals have been insured.

    This information was given by Union Minister of State, Ministry of Fisheries, Animal Husbandry and Dairying, Prof. S.P. Singh Baghel, in a written reply in Lok Sabha on 1st April, 2025.

    *****

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  • MIL-OSI Asia-Pac: Hon’ble President of India, Smt. Droupadi Murmu released a Special Postage Stamp

    Source: Government of India

    Hon’ble President of India, Smt. Droupadi Murmu released a Special Postage Stamp

    Celebrating 90th anniversary of the Reserve Bank of India (RBI)

    Posted On: 01 APR 2025 5:31PM by PIB Delhi

    The Hon’ble President of India, Smt. Droupadi Murmu, released a special Postage Stamp to commemorate the 90th Anniversary of the Reserve Bank of India (RBI) at the National Centre for the Performing Arts (NCPA), Mumbai. The event was graced by Union Minister for Communications and Development of North Eastern Region, Shri Jyotiraditya M. Scindia, Chief Minister of Maharashtra Shri Devendra Fadnavis, and other distinguished dignitaries.

    Release of Special Postage Stamp on RBI released by Hon’ble President Smt. Droupadi Murmu

    Speaking at the event, Hon’ble President Droupadi Murmu lauded the efforts of the RBI in strengthening and regulating the financial sector, ensuring stability, and fostering economic growth in the nation.

    Union Minister Shri Jyotiraditya M. Scindia congratulated the RBI for ensuring that the country’s economic fabric remains robust and for shaping the nation’s financial landscape. He also highlighted the role India Post has played towards financial inclusion with its vast network of 1,65,000 Post Offices across the country. The Post Office Savings Bank (POSB) has played a crucial role in offering savings schemes, while the traditional money order service has evolved into the iMoney Order, making money transfers quicker, more convenient, and more affordable.

    The Reserve Bank of India was established on April 1, 1935 at its iconic building in Kolkata. As it completes nine decades of dedicated service to the nation, the RBI continues to play a pivotal role in fostering stability, trust, and growth in the financial system. Beyond its core responsibilities of monetary policy, currency management, government debt management, and financial regulation, the RBI also focuses on financial inclusion, consumer awareness, and the promotion of financial literacy.

    Special Postage My Stamp on 90th Anniversary of Reserve Bank of India.

    This special stamp serves as a tribute to the institution’s significant contributions to India’s economic growth and its unwavering commitment to financial stewardship.

    The special postage stamp released on this occasion depicts RBI’s iconic heritage, symbolising its journey of nine decades. The stamp prominently showcases the Reserve Bank’s original headquarters in Kolkata, where it was first established, along with its present headquarters in Mumbai, representing its evolution over the years. It also prominently displays the RBI’s specially designed 90-year logo with the inscription “Stability. Trust. Growth”, reflecting its foundational principles and continued contribution to the economic framework of the nation.

    Social Media Links:

    1) https://x.com/JM_Scindia/status/1906952599003410532

    2) https://x.com/IndiaPostOffice/status/1906972522559705340

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  • MIL-OSI Asia-Pac: Defence exports surge to a record high of Rs 23,622 crore in Financial Year 2024-25, a growth of 12.04% over 2023-24

    Source: Government of India

    Defence exports surge to a record high of Rs 23,622 crore in Financial Year 2024-25, a growth of 12.04% over 2023-24

    With 42.85% increase, DPSUs contribute with Rs 8,389 crore of exports; Private sector records the figure of Rs 15,233 crore

    Under PM Modi’s leadership, India is marching towards achieving Rs 50,000 crore target by 2029: Raksha Mantri

    Posted On: 01 APR 2025 5:24PM by PIB Delhi

    Defence exports have surged to a record high of Rs 23,622 crore (approx. US$ 2.76 Billion) in the Financial Year (FY) 2024-25. A growth of Rs 2,539 crore or 12.04% has been registered in the just-concluded FY over the defence exports figures of FY 2023-24, which were Rs 21,083 crore.

    The Defence Public Sector Undertakings (DPSUs) have shown a significant increase of 42.85% in their exports in the FY 2024-25 reflecting the growing acceptability of Indian products in the global market and the ability of the Indian defence industry to be a part of the global supply chain. The private sector and DPSUs have contributed Rs 15,233 crore and Rs 8,389 crore respectively in defence exports of 2024-25, whereas the corresponding figures for FY 2023-24 were Rs 15,209 crore and Rs 5,874 crore respectively.

    Through a post on X, Raksha Mantri Shri Rajnath Singh congratulated all the stakeholders on achieving the feat. He stated that under the leadership of Prime Minister Shri Narendra Modi, India is marching towards achieving the target of increasing defence exports to Rs 50,000 crore by 2029.

    India has evolved from a largely import-dependent military force to the one increasingly focused on self-reliance and indigenous production. In a major boost to defence exports, wide range of items from ammunition, arms, sub-systems/systems and parts & components have been exported to around 80 countries in the just-concluded FY.

    The Department of Defence Production has a dedicated portal for application and processing of export authorisation requests, and 1,762 Export Authorisation were issued in FY 2024-25 compared to 1,507 in the preceding year, registering a growth of 16.92%. The total number of exporters also grew by 17.4% in the same period.

    Many policy reforms have been brought-in by the Government in the past few years to boost the Indian defence industry such as simplification of industrial licensing procedure, removal of parts and components from license regime, extending the validity period of license etc. In addition, SOP for grant of Export Authorisation was further simplified, and more provisions were added in the last financial year to boost exports from the country.

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  • MIL-OSI Asia-Pac: EPFO Expands Banking Network, 15 Additional Banks Empanelled for Collection of EPFO Contributions Taking Total Number to 32 Banks

    Source: Government of India

    EPFO Expands Banking Network, 15 Additional Banks Empanelled for Collection of EPFO Contributions Taking Total Number to 32 Banks

    EPFO 3.0 will make EPFO as Accessible and Efficient as Banks: Dr. Mandaviya

    With nearly 8 crore active members and more than 78 lakh pensioners, EPFO provides benefits that ensure social security for millions – Union Minister

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

    EPFO entered into agreements with 15 additional Public/Private Sector Banks in the presence of Dr. Mansukh Mandaviya, Union Minister for Labour & Employment, Youth Affairs & Sports and Sushri Shobha Karandlaje, Union Minister of State for Labour & Employment, Micro, Small & Medium Enterprises, in New Delhi today. The newly empanelled 15 banks will enable direct payment of nearly Rs. 12,000 Crore in annual collections and enable direct access to employers who maintain their accounts with these banks. For enabling employers covered under the Act to pay their monthly contributions, EPFO has already empanelled 17 banks, taking the total to 32.

    Union Minister of Labour & Employment and Youth & Sports, Dr. Mansukh Mandaviya, in his address, stated that the country’s progress towards a “Naya Bharat” is being significantly supported by institutions like the EPFO, which plays a crucial role in shaping the nation’s future. With nearly 8 crore active members and more than 78 lakh pensioners, EPFO provides benefits that ensure social security for millions, he added.

    He emphasized how EPFO continues to evolve and adapt, with the recent implementation of EPFO 2.01, a robust IT system that has significantly improved claim settlements. He said in the Financial Year 2024-25, EPFO settled record over 6 crore claims, a 35% increase compared to the 4.45 crore claims settled in the previous year (2023-24).

    Dr. Mandaviya pointed out that customer satisfaction has risen significantly, and EPFO is actively working on evolving towards EPFO 3.0 to make it as accessible and efficient as banks. He said that a significant milestone was also marked with the introduction of the Centralized Pension Payment System. “This system will benefit over 78 lakh pensioners, enabling them to receive their pensions in any bank account across the country. Previously, pensioners were required to have an account in a specific zonal bank, this compulsion has now been removed,” Union Minister explained.

    Dr. Mandaviya also touched upon the significant reforms EPFO has introduced recently. “Auto claim settlement process is a major reform which has improved claim processing speed. With auto-processing, claims are now being settled in just three days. In FY 2024-25, we settled 2.34 crore claims under this system, a 160% increase from the 89.52 lakh claims in 2023-24″, Union Minister said.

    Union Minister expressed happiness that EPFO is offering 8.25 % interest rate to its beneficiaries. The participation of banks in service delivery would further enhance efficiency of EFFO and improve good governance.

    Looking ahead, Dr. Mandaviya reiterated EPFO’s commitment to continuous improvement. “We are focused on providing Ease of Living for members and Ease of Doing Business for employers. With the continued support of our banking partners, employers, and members, we are determined to take strong strides toward realizing the vision of a Viksit Bharat, while further strengthening our social security framework.”

    EPFO, one of the largest social security Organisations in the world has been taking a series of efforts to simplify processes for members and enhance employers’ experience in transacting with it. In FY 24-25, EPFO has collected over Rs. 3.41 Lakh Crore in contributions remitted by employers through 1.25 Crore electronic challan cum returns (ECRs) till 20th March 2025.

    Earlier, the Central Board of Trustees (CBT), EPFO in its 236th Meeting held on 30.11.2024 had approved the empanelment of all Agency Banks listed with RBI and Scheduled Commercial banks with collection share more than or equal to 0.20% of total EPFO collection as additional banks authorised to collect EPFO contributions. From 1st April 2025, the total number of empanelled banks has gone up to 32, providing employers with a wider array of choices for remittance to EPFO.

    The empanelment of new banks will bring seamless integration of EPFO collections/dues payments by employers, further reducing the need of aggregator payment mechanism for employers, which will help both EPFO & employers to reduce transactional delays and thereby strengthening operational efficiency. This will yield financial benefits for EPFO, as dues remitted through empanelled banks will be available for investment on T+1 day, compared to T+2 day through aggregator. This will also significantly reduce costs to EPFO payable for name validation of members’ accounts held in non-empanelled banks. EPF members will also be benefitted by this empanelment in a big way. Now when members will seed their bank accounts maintained in these banks, these will be verified in a speedier manner by these banks instead of routing these through any other channel.

    This initiative will enhance both the Ease of Doing Business and the Ease of Providing Service for employers and it will also translate these benefits for the members, reducing lags in payments of their contributions. Further, it will also help employers to interact with these banks directly for grievances related to payment of dues.

    Shri Ramesh Krishnamurthi, Central PF Commissioner, MD/CEO and senior officers of banks, Ministry of Labour & Employment and EPFO were also present on the occasion.

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  • MIL-OSI Asia-Pac: HKSAR Government strongly condemns and rejects US Hong Kong Policy Act Report

    Source: Hong Kong Government special administrative region

         The Government of the Hong Kong Special Administrative Region (HKSAR) today (April 1) strongly disapproved of and rejected the untruthful remarks, slanders and smears against various aspects of the HKSAR in the United States (US)’s so-called 2025 Hong Kong Policy Act Report. It was apparent that the so-called report was compiled to serve the political purpose of maintaining US hegemony. It, once again, clearly exposed the US’s barbarity under its hegemony. By piling up false stories and narratives, they were clearly crafted to serve the political interest of the US in order to suppress the development rights and security interests of others.

         A spokesman for the HKSAR Government said, “The HKSAR Government strongly condemns and rejects the wanton slander about and political attacks in the US’s so-called 2025 Hong Kong Policy Act Report on Hong Kong where the ‘one country, two systems’ principle is successfully implemented. The HKSAR is an inalienable part of the People’s Republic of China, and as a local administrative region that enjoys a high degree of autonomy under the principle of ‘one country, two systems’, comes directly under the jurisdiction of the Central People’s Government. The US once again told fallacies about Hong Kong by replacing the rule of law with political manipulation and confounding right and wrong, and blatantly interfering in Hong Kong affairs which are entirely China’s internal affairs. The US’s attempt to undermine the stability and prosperity of Hong Kong will only expose its slyness and will never succeed.”

         The spokesman said, “The so-called ‘sanctions’ arbitrarily imposed against the officials of the HKSAR and the Central Authorities who perform their duties in accordance with the law by the US at the same time when publishing the so-called report smacks of despicable political manipulation to intimidate the relevant officials safeguarding national security. These grossly interfere in China’s internal affairs and Hong Kong affairs, and seriously violate the international law and the basic norms governing international relations. It, once again, clearly exposed the US’s barbarity under its hegemony, which is exactly the same as its recent tactics in bullying and coercing various countries and regions. The HKSAR despises such so-called ‘sanctions’ by the US and is not intimidated by such despicable behavior. The HKSAR will resolutely continue to discharge the duty of safeguarding national security. The HKSAR Government will make every effort to protect the legitimate rights and interests of all personnel.”

         The spokesman reiterated, “The HKSAR Government steadfastly safeguards national sovereignty, security and development interests, and fully and faithfully lives up to the highest principle of ‘one country, two systems’. It will resolutely, fully and faithfully implement the Hong Kong National Security Law (NSL), the Safeguarding National Security Ordinance and other relevant laws safeguarding national security in the HKSAR, to, in accordance with the law, effectively prevent, suppress and impose punishment for acts and activities endangering national security, whilst upholding the rights and freedoms of Hong Kong people, so as to ensure the steadfast and successful implementation of the principle of ‘one country, two systems’. The HKSAR Government strongly demands the US to immediately stop acting in violation of international law and basic norms of international relations and interfering in China’s internal affairs and Hong Kong affairs.”

         Regarding the slandering remarks in the so-called report, the Government solemnly rejects them in the ensuing paragraphs.
     
    Laws safeguarding national security

         The HKSAR Government spokesman said, “As repeatedly stressed by the HKSAR Government, the laws safeguarding national security in the HKSAR are precisely for safeguarding national sovereignty, unity and territorial integrity; and ensuring the full and faithful implementation of the principle of ‘one country, two systems’ under which the people of Hong Kong administer Hong Kong with a high degree of autonomy. It will also better safeguard the fundamental rights and freedoms of the residents of the HKSAR and other people in the city. The rights and regular exchanges between Hong Kong residents and people doing business in Hong Kong with foreign countries will not be affected.

         “The US Government had vilified the HKSAR’s legislative work, as well as law enforcement agencies, prosecutorial and judicial authorities, in claiming that fulfilment of their duties constituted an ‘erosion of rights and freedoms’. However, the fact is that the US has been ignoring the non-interference principle under international law, interfering with other countries’ internal affairs, grooming agents, instigating ‘colour revolutions’, and even creating social unrest and multiple humanitarian disasters through economic and military coercion, causing suffering to people in many countries. In the HKSAR, the ‘black-clad violence’ and the Hong Kong version of ‘colour revolution’ back in 2019 have severely damaged the social stability of Hong Kong. With the promulgation and implementation of the Hong Kong National Security Law (HKNSL), its effect in stopping violence and curbing disorder as well as quickly restoring social stability in the Hong Kong community was immediate. With the concerted efforts of the HKSAR Government, the Legislative Council and all sectors of the community, the HKSAR fulfilled its constitutional duty by enacting the Safeguarding National Security Ordinance (SNSO) last year to improve the legal system and enforcement mechanisms for safeguarding national security, enabling Hong Kong’s transition from chaos to order and its advancement from stability to prosperity, allowing the livelihood and economic activities of the Hong Kong community at large to swiftly resume to normal and the business environment to be restored and improved continuously. In the Economic Freedom of the World 2024 Annual Report, Hong Kong ranks as the world’s freest economy among 165 economies. In the World Competitiveness Yearbook 2024, Hong Kong’s ranking improved by two places to fifth globally. The legal regime in safeguarding national security in the HKSAR has been strengthened, which prevented the tactics of the US from succeeding. Thereafter, the US continued to act recklessly and even imposed the so-called ‘sanctions’ unscrupulously in the guise of defending human rights and democracy. This constitutes a demonstration of shameless hypocrisy with double standards on the part of the US, showing that their bullying acts are utterly ugly and despicable.

         “The specific content of the SNSO fully demonstrates that it was formulated strictly in accordance with the rule of law principles: including clear definitions of the elements that constitute an offence, only making necessary and reasonable restrictions on basic human rights and freedoms in accordance with applicable international standards and with reference to relevant practices in other common law jurisdictions, and not affecting the legitimate rights and interests of innocent third parties etc. At the same time, the HKSAR law enforcement agencies have been taking law enforcement actions based on evidence and strictly in accordance with the law in respect of the acts of the persons or entities concerned, paying no regard to their political stance, background or occupation. In the past, the US and some Western countries had also carried out law enforcement actions against the dissemination of disinformation, incitement of hatred, and glorification of violence in their own countries. Their disparagement of the HKSAR only exposes their double standards.
     
         “As regards the sedition offence, the courts of the HKSAR have ruled in different cases that the provisions relating to sedition are consistent with the relevant provisions of the Basic Law and the Hong Kong Bill of Rights on the protection of human rights, and that a proportionate and reasonable balance has been struck between safeguarding national security and protection of the freedom of speech. It should be reiterated that the offence is not meant to silence expression of any opinion that is only a genuine criticism against the Government based on objective facts.
     
         “The HKNSL and SNSO have an extraterritorial effect. As the law enforcement department of the HKSAR safeguarding national security, the Police are duty bound to pursue the liability of those who have allegedly endangered national security overseas. Those absconders hiding in the US and other Western countries are wanted because they continue to blatantly engage in activities endangering national security, including inciting secession and requesting foreign countries to impose ‘sanctions’ or blockade and engage in other hostile activities against the People’s Republic of China and the HKSAR. More so, they continue to collude with external forces to be covered for their evil deeds. Their malicious acts to endanger national security have been seen through by all, and there is no doubt that they have clearly and seriously endangered national security. As the law enforcement department of the HKSAR safeguarding national security, the Police are duty bound to put the persons concerned on the wanted list in accordance with the law, and it is necessary to take all lawful measures, including the measures specified under section 89 of the Safeguarding National Security Ordinance, to strongly combat the acts of abscondment. The action is fully justified, necessary and legitimate. The extraterritorial effect for the laws safeguarding national security fully aligns with the principles of international law, international practice and common practice adopted in various countries and regions. Quite a number of countries would also impose similar measures on wanted criminals, including cancellation of passports.
     
         “As guaranteed by the Basic Law and the Hong Kong Bill of Rights, all defendants charged with a criminal offence shall have the right to a fair trial by the Judiciary exercising independent judicial power. The courts of the HKSAR shall exercise judicial power independently, free from any interference. It is such a disgrace for the US to make unwarranted comments on criminal trials which are ongoing in the HKSAR courts.

         “Every state will enact laws on safeguarding national security. This is an inherent right of every sovereign state, and is also an international practice. In terms of national security-related legislation, the US has at least 21 pieces. There have also been countless administrative orders issued in the name of so-called ‘national security’. The US does not only generalise the concept of ‘national security’ to intimidate individuals and corporations which engage in legitimate activities, but has also even at every turn suppressed dissidents with various means, and is in no position to point its finger at other countries and regions for making their own legislation for safeguarding national security legitimately. The US entirely disregarded the constitutional duty and practical needs of the HKSAR to legislate, and the positive effects brought by the enactment of the relevant national security legislation on economic development and protection of human rights, and must be strongly condemned.”
     
    Improved electoral system and reform of District Councils

         The HKSAR Government spokesman pointed out, “The improved electoral system of the HKSAR puts in place legal safeguards to ensure the full implementation of ‘patriots administering Hong Kong’. Keeping political power in the hands of patriots is a political rule commonly adopted around the world. No one in any country or region in the world will ever allow political power to fall into the hands of forces or individuals who do not love, or even sell out or betray, their own country. In Hong Kong, regardless of one’s background, whoever meets the requirements and criteria of patriots can participate in elections in accordance with the law and serve the Hong Kong public by entering into the governance structure of the HKSAR after getting successfully elected.
     
         “Reforming District Councils (DCs) is an important part of improving district governance. The DCs have returned to their rightful positioning under Article 97 of the Basic Law as advisory and service bodies that are not organs of political power, and the principle of ‘patriots administering Hong Kong’ has been fully implemented, which is of great significance. Individuals who love the country, have an affection for Hong Kong and are dedicated to serving their districts can participate in the work of DCs through a variety of channels, thereby reflecting public opinion more comprehensively and accurately.”

    Safeguarding due administration of justice and rule of law
     
         The HKSAR Government spokesman pointed out, “The HKSAR Government safeguards independent judicial power and fully supports the Judiciary in exercising its judicial power independently, safeguarding the due administration of justice and the rule of law. Articles 2, 19 and 85 of the Basic Law specifically provide that the HKSAR enjoys independent judicial power, including that of final adjudication, and the courts of the HKSAR shall exercise judicial power independently, free from any interference. Article 92 of the Basic Law also clearly stipulates that judges and other members of the Judiciary of the HKSAR shall be chosen on the basis of their judicial and professional qualities. All judges and judicial officers are appointed by the Chief Executive on the recommendation of an independent commission composed of local judges, persons from the legal profession and eminent persons from other sectors. All judges and judicial officers so appointed will continue to abide by the Judicial Oath and administer justice in full accordance with the law, without fear or favour, self-interest or deceit. Establishing the mechanism for safeguarding national security in the HKSAR will not undermine the independent judicial power. Our judicial system continues to be protected by the Basic Law. When adjudicating cases concerning offence endangering national security, as in any other cases, judges remain independent and impartial in performing their judicial duties, free from any interference. Any reasonable, objective and fair-minded person who has read the publicly accessible judgments of the court on relevant cases would certainly reach the same conclusion.
     
         “The principle of judicial deference to the executive’s assessment on national security is well established in common law jurisdictions including the US. The Court of Appeal in an important judgment decided in May 2024 that there are at least three areas where the court would make judgment while giving the executive deference on assessment on national security: first, where a fundamental right of the person affected by the measure is engaged; second, where the requirement of a fair trial is in issue; and third, where the question of open justice is raised. The vilification of the US against the HKSAR that the executive influences how the court should interpret laws’ goes completely against the fact.
     
         “The Department of Justice takes charge of criminal prosecutions, free from any interference by virtue of Article 63 of the Basic Law. All prosecutorial decisions are based on an objective analysis of all admissible evidence and applicable laws.”
     
         The spokesman stressed, “The rule of law in Hong Kong is strong and robust, and withstands the test of time. Hong Kong’s common law system has been built and maintained over the years by the joint efforts of the Judiciary and legal professions, including judges at all levels of courts, and it will not be changed because of the departure of individual overseas non-permanent judges. In fact, when Lord Collins of Mapesbury resigned, he had stated that he continued to ‘have the fullest confidence in the Court and the total independence of its members’. The Right Honourable Madam Justice Beverley McLachlin also reiterated her ‘confidence in the members of the Court, their independence, and their determination to uphold the rule of law’.
     
         “The Judiciary exercises judicial power independently in accordance with the law, and everyone charged with a criminal offence has the right to a fair hearing. The courts decide cases strictly in accordance with the evidence and all applicable laws. Cases will never be handled any differently owing to the profession, political beliefs or background of the persons involved. The prosecution has the burden to prove beyond reasonable doubt the commission of an offence before a defendant may be convicted by the court.

         “All cases concerning offences endangering national security will be handled by the prosecution and judicial authorities of the HKSAR in a fair and timely manner in strict compliance with Article 42(1) of the Hong Kong National Security Law. The situation of so-called ‘indefinite detention’ does not exist at all. The US’s detention against an individual whom it sees as a ‘terrorist’ for up to 20 years without charge is the real ‘indefinite detention’.”
     
    Safeguarding rights and freedoms

         The HKSAR Government spokesman said, “The HKSAR Government steadfastly safeguards the rights and freedoms enjoyed by Hong Kong people as protected under the law. Since Hong Kong’s return to the motherland, human rights in the city have always been robustly guaranteed constitutionally by both the Constitution and the Basic Law. The NSL and the Safeguarding National Security Ordinance also clearly stipulate that human rights shall be respected and protected in safeguarding national security in the HKSAR, and that the rights and freedoms, including the freedoms of speech, of the press, of publication, of association, of assembly, of procession and of demonstration, that Hong Kong residents enjoy under the Basic Law and the provisions of the International Covenant on Civil and Political Rights (ICCPR) and the International Covenant on Economic, Social and Cultural Rights as applied to Hong Kong, shall be protected in accordance with the law. Nonetheless, just as the case with other places in the world, such rights and freedoms are not absolute. The ICCPR also expressly states that some of them may be subject to restrictions as prescribed by law that are necessary for protection of national security, public safety, public order or the rights and freedoms of others, etc.
     
         “In fact, since the implementation of the Hong Kong National Security Law and the Safeguarding National Security Ordinance, the media landscape in Hong Kong has remained vibrant. Like all other places in the world, freedom of the press and speech are not absolute. The media, like everyone else, has an obligation to abide by all the laws. The media continue to enjoy the freedom to comment on and criticise government policies without any restriction, as long as this is not in violation of the law. The most crucial point is that journalists must act in good faith and on accurate factual basis and provide reliable and precise information in accordance with the tenets of ‘responsible journalism’ in order to enjoy the protection of their rights to freedom of speech and press freedom.”
     
    Enhancing national education
     
         The HKSAR Government spokesman pointed out, “Schools are places for students to learn and grow. It is the obligation of schools to provide a safe and orderly school environment and atmosphere, and to maintain a campus free from political interference or illegal activities, for safeguarding students’ well-being. National education has been an important part of the curricula for primary and secondary schools as well as kindergartens with a view to deepening our students’ understanding of the country’s national affairs, history and culture, the Constitution and the Basic Law, as well as national security, thereby building up students’ cultural confidence to foster a sense of national identity, and cultivating them into a new generation that is able and virtuous with a sense of responsibility, visions and love for the country and the city. Teachers are also important role models for their students, playing a vital role in passing on knowledge and nurturing students’ character. The HKSAR Government has the responsibility to ensure the professional conduct of teachers. Implementation of national education, including national security education, is the legitimate duty of education authorities all over the world. Different places attach great importance to implementing national security education and developing their students’ sense of national identity, including knowledge of their respective constitution, their own history, culture, geography, etc.
     
         “Academic freedom is an important social value treasured in Hong Kong and the cornerstone of our higher education sector. Since the implementation of the National Security Law, academics or post-secondary education institutions in Hong Kong continue to conduct normal exchange activities with their foreign or external counterparts. Meanwhile, post-secondary institutions in Hong Kong have taken a series of measures to incorporate national security education into students’ learning in fulfilment of their statutory duty. These institutions enjoy autonomy on curriculum design, and the HKSAR Government encourages the institutions to provide students with diversified learning opportunities on national security education.”

    MIL OSI Asia Pacific News –

  • MIL-OSI: Oaktree Specialty Lending Corporation Schedules Second Fiscal Quarter Earnings Conference Call for May 1, 2025

    Source: GlobeNewswire (MIL-OSI)

    11:00 a.m. Eastern Time / 8:00 a.m. Pacific Time      

    LOS ANGELES, CA, April 01, 2025 (GLOBE NEWSWIRE) — Oaktree Specialty Lending Corporation (NASDAQ:OCSL) (“Oaktree Specialty Lending” or the “Company”) today announced that it will report its financial results for the second fiscal quarter ended March 31, 2025 before the opening of the Nasdaq Global Select Market on Thursday, May 1, 2025. Management will host a conference call to discuss the results on the same day at 11:00 a.m. Eastern Time / 8:00 a.m. Pacific Time. The conference call may be accessed by dialing (877) 507-3275 (U.S. callers) or +1 (412) 317-5238 (non-U.S. callers). All callers will need to reference “Oaktree Specialty Lending” once connected with the operator. Alternatively, a live webcast of the conference call can be accessed through the Investors section of Oaktree Specialty Lending’s website, www.oaktreespecialtylending.com.

    For those individuals unable to listen to the live broadcast of the conference call, a replay will be available on Oaktree Specialty Lending’s website, or by dialing (877) 344-7529 (U.S. callers) or +1 (412) 317-0088 (non-U.S. callers), access code 3296634, beginning approximately one hour after the broadcast.

    About Oaktree Specialty Lending Corporation

    Oaktree Specialty Lending Corporation (NASDAQ:OCSL) is a specialty finance company dedicated to providing customized one-stop credit solutions to companies with limited access to public or syndicated capital markets. The Company’s investment objective is to generate current income and capital appreciation by providing companies with flexible and innovative financing solutions including first and second lien loans, unsecured and mezzanine loans, and preferred equity. The Company is regulated as a business development company under the Investment Company Act of 1940, as amended, and is managed by Oaktree Fund Advisors, LLC, an affiliate of Oaktree Capital Management, L.P. For additional information, please visit Oaktree Specialty Lending’s website at www.oaktreespecialtylending.com.

    Contact

    Investor Relations:
    Oaktree Specialty Lending Corporation
    Clark Koury
    (213) 830-6222
    ocsl-ir@oaktreecapital.com

    The MIL Network –

  • MIL-OSI: Horizon Bancorp, Inc. Announces Conference Call to Review First Quarter Results on April 24

    Source: GlobeNewswire (MIL-OSI)

    MICHIGAN CITY, Ind., April 01, 2025 (GLOBE NEWSWIRE) — (NASDAQ GS: HBNC) – Horizon Bancorp, Inc. (“Horizon” or the “Company”) will host a conference call at 7:30 a.m. CT on Thursday, April 24, 2025 to review its first quarter 2025 financial results.

    The Company’s first quarter 2025 news release will be published after markets close on Wednesday, April 23, 2025. It will be available at investor.horizonbank.com.

    Participants may access the live conference call on April 24, 2025 at 7:30 a.m. CT (8:30 a.m. ET) by dialing 833-974-2379 from the United States, 866-450-4696 from Canada, or 412-317-5772 from international locations and requesting the “Horizon Bancorp Call.” Please dial in approximately 10 minutes prior to the call.

    A telephone replay of the call will be available approximately one hour after the end of the conference call through May 2, 2025. The telephone replay may be accessed by dialing 877-344-7529 from the United States, 855-669-9658 from Canada, or 412-317-0088 from other international locations and entering the access code 6313653.

    About Horizon Bancorp, Inc.

    Horizon Bancorp, Inc. (NASDAQ GS: HBNC) is the $7.8 billion-asset commercial bank holding company for Horizon Bank, which serves customers across diverse and economically attractive Midwestern markets through convenient digital and virtual tools, as well as its Indiana and Michigan branches. Horizon’s retail offerings include prime residential and other secured consumer lending to in-market customers, as well as a range of personal banking and wealth management solutions. Horizon also provides a comprehensive array of in-market business banking and treasury management services, as well as equipment financing solutions for customers regionally and nationally, with commercial lending representing over half of total loans. More information on Horizon, headquartered in Northwest Indiana’s Michigan City, is available at horizonbank.com and investor.horizonbank.com.

    Contact: Mark E. Secor
      Chief Administration Officer
    Phone: 219-873-2611

    The MIL Network –

  • MIL-OSI: Jamf completes acquisition of Identity Automation, expanding its platform to include dynamic identity management for specific industries

    Source: GlobeNewswire (MIL-OSI)

    MINNEAPOLIS, April 01, 2025 (GLOBE NEWSWIRE) — Jamf (NASDAQ: JAMF), the standard in managing and securing Apple at work, today announced it has completed the acquisition of Identity Automation, a dynamic identity and access management (IAM) platform for industries that are defined by frequent role adjustments, such as education and healthcare.

    By acquiring Identity Automation, Jamf gains almost 90 employees, as well as a key product differentiator: dynamic identity management. In K-12 education and other mobile device-centric industries, roles and access constantly shift. Identity Automation’s platform dynamically adjusts access, device, and security policies in real time based on schedules, locations, and role changes. Through integrations with ecosystem partners and Jamf, a best-in-class device login and user experience is achieved.

    Jamf is uniquely positioned as the only provider offering a comprehensive, Apple-best solution for device management and security in teaching and learning workflows. While Jamf is known for its Apple-best platform, it offers solutions across multiple endpoints.

    By unifying Jamf’s endpoint management and security expertise with Identity Automation’s adaptive identity technology, organizations can streamline and enhance the overall user experience—all within a single platform.

    “We’re excited to welcome Identity automation to the Jamf family,” said John Strosahl, CEO at Jamf. “Together, we will offer organizations a smarter, more efficient way to manage identity and access in dynamic environments so users can be productive as soon as they pick up a device. I’m so excited to see what our world-class teams can achieve together as we continue our mission to help organizations succeed with Apple.”

    About Jamf

    Jamf’s purpose is to simplify work by helping organizations manage and secure an Apple experience that end users love and organizations trust. Jamf is the only company in the world that provides a complete management and security solution for an Apple-first environment that is enterprise secure, consumer simple and protects personal privacy. To learn more, visit jamf.com.

    About Identity Automation

    Identity Automation provides IAM solutions for K-12 and higher education. Its flagship platform safeguards learning environments, maximizes instructional time, and minimizes the load on Information & Educational Technology teams. Technology leaders turn to Identity Automation for its best-in-class security capabilities, time-saving automation, and flexible approach to managing digital identities. Headquartered in Houston, Texas, Identity Automation is trusted by Chicago Public Schools, Public Schools of North Carolina, Houston Community College, and hundreds of other institutions. To learn more visit: identityautomation.com. 

    Forward-Looking Statements

    This release relates to the acquisition of Identity Automation Systems, LLC (“Identity Automation”) by Jamf Holding Corp. (“Jamf”, “we”, our” or “us”). This release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, regarding the anticipated benefits of the acquisition, and the anticipated impacts of the acquisition on our business, products, financial results, and other aspects of our and Identity Automation’s operations. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely,” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. These risks, uncertainties, assumptions, and other factors include, but are not limited to: our ability to retain key Identity Automation personnel or maintain relationships with its customers, vendors, developers, community members, and other business partners; risks that the acquisition disrupts current plans and operations; our ability to successfully integrate Identity Automation’s operations; our ability to execute on our business strategies relating to the acquisition and realize expected benefits and synergies; and our ability to compete effectively, including in response to actions our competitors may take following the acquisition. Further information on additional risks, uncertainties, and other factors that could cause actual outcomes and results to differ materially from those included in or contemplated by the forward-looking statements contained in this release are included under the caption “Forward-Looking Statements” and elsewhere in our Form 10-K for the year ended December 31, 2024, and the other filings and reports we make with the Securities and Exchange Commission from time to time. Moreover, both we and Identity Automation operate in a very competitive and rapidly changing environment, and new risks may emerge from time to time. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the acquisition, or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements we may make. Forward-looking statements speak only as of the date the statements are made and are based on information available to us at the time those statements are made and/or our management’s good faith belief as of that time with respect to future events. Except as required by law, we undertake no obligation, and do not intend, to update these forward-looking statements.

    Media Contact:

    Liarna La Porta | media@jamf.com

    Investor Contact:

    Jennifer Gaumond | ir@jamf.com

    The MIL Network –