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Category: Economy

  • MIL-OSI United Kingdom: Sir Martyn Oliver’s speech at the Guildhall

    Source: United Kingdom – Executive Government Non-Ministerial Departments 2

    Speech

    Sir Martyn Oliver’s speech at the Guildhall

    Martyn Oliver, Ofsted’s Chief Inspector, spoke to educational leaders from the City of London and further afield. He talked about the importance of education and how Ofsted’s inspection improvement proposals will drive ever higher standards for children.

    Thank you. It’s really wonderful to be here in the City, and to be talking about education.

    The square mile in which we stand has contributed so much to our nation’s history, values, and of course our economy.

    The power of education

    But, even that mighty influence, pales in comparison to the power of education. I’m sure you’re not surprised to hear that from a former teacher, headteacher, and the Ofsted Chief Inspector.

    In a world of difficult choices, or trade-offs and compromises, education is one of those rare things that can solve so many problems whilst causing no new ones.

    The journey towards any target, milestone, or mission that a government, any government, can set, will be made quicker and easier through education. There are no silver bullets however, but education is probably the closest thing we have.

    It can contribute to rising growth, and falling unemployment. To reducing crime, and to increasing opportunities. To more innovation and to cutting emissions. To greater happiness and to less deprivation. To a stronger health service and less inequality. To a fairer society and a more secure nation.

    I could go on for the whole speech! But you hopefully get the idea!

    In short, education can help us achieve almost every goal we have for our young people, our society, and our country.

    Difficult choices

    But as I’ve said, we do live in a time of difficult choices. When every single penny has to be carefully considered and justified, even if there were silver bullets, there just simply isn’t enough silver.

    But it’s also important to say that just throwing more money at education is not the answer. Any money needs to be carefully targeted and justified. It needs to go where it will make the biggest difference. Where it will help the most children and particularly the most vulnerable and disadvantaged. Where it will make sure that the most able, whatever their background, can soar. And where those who need it the most will get that help.

    So, it’s not just about more money, and it can’t be.

    Ofsted’s new proposals

    That’s the context in which Ofsted is proposing a whole new approach to inspection.

    So, we have built a system to drive ever higher and rising standards for children. To deliver better information for parents to help inform choices and engage them in their children’s education. To help governors and boards, authorities and trusts, to support and guide improvement. To deliver better information to government so they can make choices about where they assign resources and support. And to reduce pressure on all those working in education so they can get on with their vital work.

    So that’s the ambition and the context in which we have designed our proposals. We want a better system, that improves the education of all children, with all the myriad benefits that that brings.

    I believe our proposals will do this in a number of ways.

    Focus on what matters

    Firstly, we are focusing on the things that really matters to a good education. We have proposed a number of evaluation areas, of different things that we will look at on inspection. And these are informed by what we know, what my experience informs me, will make a difference to a child’s education, and by what we heard from parents and children in our biggest ever survey last year, the Big Listen.

    This includes maintaining our strong focus on curriculum, on the substance of learning. It includes the achievements and the personal development of children. It includes the leadership of the school or educational provider, and how they develop their teachers and staff.

    It includes making sure children are prepared for their next step, not least for working life. Obviously, there are many purposes of education, and being ready for work is not the only one, but it is a very important part and we will not shy away from that.

    So, our inspections will specifically look at careers programmes in secondary schools. We want to see impartial advice from well-trained staff, engagement with employers, colleges and universities, and opportunities for work-experience.

    On that note, we recently had, in Ofsted, a year 12 student on work experience for a week in our London office. She experienced a wide range of activities in our communications team. She actually helped me write this speech, and I encouraged her to do so. She told us how exciting it was to work within a professional office, meet people and see the variety of jobs which keep Ofsted running. Opportunities like this show students the outcomes of hard work, what working life is like, while also giving them ideas for future careers. They are invaluable and it was fantastic to support it from the employer side as well as in schools.

    Returning to our inspections, they will also include the vital topics of behaviour and of attendance. We’re proposing, for the first time, to look at these areas separately to really get into the detail. Obviously, a school with better behaviour is more likely to have better attendance, but there is a lot more to it than that, and we want to identify what’s working and what’s not. And we want to empower schools to tackle the problems that they have in a way that works for them. Autonomy and innovation will be recognised and supported.

    We want to avoid the problem where one issue, bullying for example, causes a sort of ‘double jeopardy’ situation where it has a knock-on impact on grades in other areas. Let me give you an example, an issue about bullying could impact leadership and management, safeguarding, the quality of education, specifically the curriculum, personal development and behaviour and attitudes. But it is entirely possible that it was a behavioural management issue alone and it should be treated as such. So, as much as possible, we want to isolate our areas and shine a laser like focus on just them.

    Our proposals also include a new evaluation area for inclusion. This is something I’m particularly proud of. I’ve always said that if you get it right for the most disadvantaged and vulnerable children, you get it right for everyone. And we now have the data at Ofsted to back that up.

    Schools that get it right for children with SEND, children who are young carers, children in poverty, children facing an educational or personal setback, they’re not doing it at the expense of the other children. That’s just not how it works. So, Ofsted will recognise schools doing great work for all children through our inclusion evaluation area and by threading inclusion through all our other areas too.

    And by reporting on each individual area, not on overall effectiveness or aggregated sub judgements, we hope to paint a far clearer picture of a school. To recognise what they do well and what they could do better. Because no school is perfect, and no school is without merit. Great schools can still have weaknesses, and poor schools can still do things really well. We will recognise this complexity, and respect the intelligence of those reading our reports to understand this.

    By maintaining this focus on what matters, and by reporting on it in detail, we hope to drive ever higher standards in education. And we hope to make sure that, as standards rise, no child is left behind. No child’s potential is wasted. They only get one childhood, and they deserve every chance and opportunity.

    Built around existing standards

    As well as making sure we focus on what really matters, to children, to parents, and to the best possible education, we want to make sure that we’re not asking schools to do anything beyond what is already expected and asked of them. We don’t want leaders or teachers to be doing anything just for us, anything ‘for Ofsted’. If you’re doing the right things for your children, then you’re already doing the right things ‘for Ofsted’. Now, Ofsted has been saying this for years, but I know some of you may still be sceptical. But with this new approach, we have done all that we can to make it as clear and unambiguous as possible.

    We have built the entire toolkit, all the documents setting out clearly what we look for, on the existing professional standards teachers and leaders should be working to. On the qualified teacher standards, on the statutory and non-statutory guidance, which already set out what schools should be doing. I hope, if you take a look, you will see nothing in there that a good school, a great school leader isn’t already doing, or at least aspires to be doing.

    Let me give you an example, the Qualified Teacher Professional standards currently asks teachers to:

    “Demonstrate good subject and curriculum knowledge [and] have a secure knowledge of the relevant subject(s) and curriculum areas, foster and maintain pupils’ interest in the subject, and address misunderstandings.”

    That’s the qualified teacher standards that teachers in England should work to. So, Ofsted is going to ask:

    “Teachers explain new content clearly, connecting new information with what pupils already know and/or introducing new content and concepts in a meaningful context. Teachers revisit important content and concepts regularly so that pupils learn them securely and remember them. Teachers check pupils’ understanding systematically, identifying and remedying any gaps or misconceptions. They give effective feedback that supports pupils to improve.”

    And this is also true for any other type of educational provision. I’ve mainly talked about schools today, because I know that’s the background of many of you in the audience. But almost everything I’ve mentioned also applies to nurseries, to childminders and to further education providers and colleges. To all the education provision we inspect. About 92,000 institutions.

    We have proposed toolkits for each type of provision, tailored to what they do, to the age of their children, and to the relevant existing professional standards that they work to.

    Again, I hope this will drive higher standards in education. It will make it clearer than we ever have, that schools shouldn’t be doing anything just for the days that our inspectors come in. They shouldn’t be spending a single minute or penny on anything that isn’t in the best interests of their, your, children. That’s what we want to see. That’s all.

    And if we get this right, it will relieve pressure on teachers and leaders. By basing our standards around everything you should already be doing, and by spelling this out clearly, I hope we can eliminate some of these myths, some of the guesswork, and some of the confusion about what you should be doing. Children aren’t best served by stressed teachers, and educational standards aren’t improved when schools can’t recruit or retain the high-quality staff they need. So Ofsted wants to do its bit to help, and to again drive higher standards.

    Recognise those going above and beyond

    So, we are proposing to recognise when schools are meeting the standards expected of them through our new ‘secure’ grade. And I know there are some who want us to stop there and to say, this school has met the required standard, and that’s good enough.

    But I don’t want to just say ‘that’s good enough.’ I don’t think parents want to hear that. And I don’t think leaders and governors, like many of you, really want to say that either. I don’t think that sort of model benefits children, helps parents, or drives higher standards.

    So, we are proposing to have two additional grades above ‘secure.’ We are proposing a ‘strong’ grade, for those not just meeting the core standards but going beyond them. Schools will achieve this in areas where they’re really excelling for their children.

    And then we are proposing a new top grade of ‘exemplary.’ This will be for truly exceptional practice. For a school or other provider doing something that we believe is worthy of national recognition, that others can learn from or be inspired by.

    I believe, through these grades, we will encourage schools to always seek to improve. We will give parents a far more detailed picture of a school’s strengths and the areas to work on. And we will highlight practice that schools could look to, to inform their own improvement journeys.

    Once again, I believe this will drive higher standards in education, and all of the benefits that brings.

    Recognise uniqueness

    Of course, every school is unique. Every set of circumstances is unique. And every set of challenges is also unique. And we will recognise this too. Our proposals will do much more to recognise the context in which a school is operating.

    Because it is important to recognise what a school is achieving both in spite of and because of the picture around them, the community that they are a part of, the resources and relationships that they can draw on.

    Because a school does not operate in a bubble. The quality of the feeder nurseries or primary schools has an impact. The quality of the secondary school and the colleges has an impact. The support they get from the local authority or trust, the corporation or the liveries, their governors and their PTA, has an impact. The level of education, the relative incomes, and the languages spoken by their community has an impact. The engagement of the parents and carers has an impact. The amount of support available locally for pupils with SEND has an impact. The availability of high-quality teachers and staff in the area has an impact too.

    We will consider all of this and more. To recognise what a school has been able to achieve in that context, to place accountability for successes and weaknesses in the right place, and to highlight examples of great practice against the toughest backdrops.

    Again, through proper and proportional accountability, we hope to drive higher standards for all children, in all areas.

    Help to guide government

    We also want to help to guide government, to better target their support, their resources, and their interventions.

    To make sure that the right people and institutions are recognised for their success. And make sure improvements are targeting the root of the problem, not the just the symptoms.

    For example, think about a secondary school with poor attendance. Obviously, that might be something government wants to offer support to the school to improve. But if all of the local primaries also have poor attendance, if the school is actually doing a bit better than other local secondaries, well then the picture changes.

    If a primary school has lower than desired outcomes for their children, that obviously needs rectifying. But if many of their children are arriving unprepared for school, with little or no experience reading, perhaps not even potty trained, again the picture changes.

    If a school is struggling with behaviour, then government support, behaviour experts and other interventions could be the answer. But if the local area has problems with gangs, or very few activities and resources for children, or limited support from the local authority, again the picture changes.

    Of course, we cannot and will not lower standards. We must and we will expect the best for all children. But I believe our proposals will allow us to follow the threads, get to the root of the problem, and help government target limited resources where they will have the biggest impact. We again hope to drive higher standards for all.

    Conclusion

    I hope that I have given you a flavour of the content but also the ambition of our proposals. To focus on what matters. To make sure schools are able to dedicate everything to their children. To recognise those going beyond. To recognise every unique school in their context. And to make sure, no minute, pound, or resource is spent in the wrong place or on the wrong problem.

    But I hope you will also help us make these proposals that I’ve just outlined even better. There are some fantastic educators in this room, and many more who recognise the transformative power of education. So please take part in our consultation. It’s open until 28th April and it’s available on our website.

    But I hope you have also seen the ambition that we have and that I have for education in this country.

    In many ways, it is already remarkable. It is already something we can be proud of as a nation. Something we should thank everyone, and I thank you, for working in education.

    We are outperforming many other countries, in many ways. But we can always do better. We should never stop striving to do better. Especially for the most disadvantaged and vulnerable. That’s an area where we can and must do better.

    Our children deserve that. Thank you.

    Updates to this page

    Published 1 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Strengthening Connecticut Farms with Risk Management Training and Tools

    Source: US State of Connecticut

    In 2024, extreme rain events left farmers devastated as they surveyed their flooded fields, witnessing the destruction of their crops, time, and financial investments. The sheer volume of rainfall made damage prevention nearly impossible, wiping out expected revenue and threatening livelihoods.

    UConn Extension professionals, working alongside farmers and partner agencies, provided critical support before and after the floods, helping to strengthen resilience. Their ongoing efforts focus on developing resources and tools to ensure Connecticut’s agricultural industry and food supply remain vibrant and sustainable.

    “Operating a financially viable farm can be incredibly challenging, and so our goal is to take advantage of current technologies, such as smart phones, and use those as tools to help farmers reduce their risk,” says Amy Harder, associate dean for Extension.

    Farm businesses face a wide range of risks, from unpredictable weather to volatile markets. To help farmers navigate these challenges, UConn Extension, located within UConn’s College of Agriculture, Health and Natural Resources (CAHNR), has developed new resources, including two innovative apps, that provide real-time support. A new online farm risk management course also offers comprehensive strategies to help farmers safeguard their operations and build resilience in an ever-changing industry.

    An App for That

    Crop insurance provides financial security if an extreme weather event or insect infestation ruins the crop before it can be harvested and sold. Mary Concklin and Joseph Bonelli are emeriti UConn Extension professionals working on the farm risk management program through a USDA grant.

    “We developed the crop insurance notification app to help farmers report on time and maintain their coverage,” Concklin says. “This tool ensures farmers receive timely notifications—via text message or email—at least 30 days before a policy deadline, with an additional reminder one to two weeks before. It helps busy farmers stay on top of important dates and avoid lapses in coverage.”

    Missing a deadline could mean losing coverage, which can have severe financial consequences. This app serves as an essential reminder for farmers managing multiple responsibilities.

    Another innovative tool is the market pricing app, designed to collect real-time data from farmers’ markets and provide valuable insights for agricultural agencies.

    The market pricing app collects data from farmers’ markets to provide accurate pricing information to USDA’s Risk Management Agency (RMA), the Farm Service Agency (FSA), and the Connecticut Department of Agriculture (DoAg). Unlike self-reported data, this app ensures consistency and accuracy by requiring university or government agencies to collect the information. “The summarized pricing data can help farmers understand market trends, price their products competitively, and make informed decisions about future crop production,” Bonelli says. “It’s useful for both short-term sales strategies and long-term business planning.”

    Student employees are visiting farmers’ markets throughout the state to enter the pricing data. Then, Bonelli and Concklin can analyze the data and distribute it to the partner agencies. Farmers can access the summarized data, providing insights into pricing trends and helping farmers make better business decisions.

    A Holistic Approach to Farm Risk Management

    To complement these tools, UConn Extension also launched an online course focused on farm risk management. This course provides farmers with strategies to identify, assess, and mitigate risks associated with agriculture. The course is appropriate for farmers at all experience levels. “The course consists of 12 modules covering topics like crop insurance, farm financial management, climate adaptation strategies, and general farm insurance. The goal is to provide farmers with a range of tools to reduce risk and improve long-term sustainability,” Concklin says.

    Participants learn at their own pace in the asynchronous course, taking the modules they need or are interested in. It includes assessments and offers a certificate of completion, which may be useful for professional development or demonstrating additional education in farm management. More importantly, it provides effective strategies for farm risk management that farmers can immediately apply to their operations.

    The course and apps were developed in response to listening sessions with farmers.

    Beyond technology, Bonelli and Concklin encourage farmers to engage with additional resources to enhance their knowledge. Farmers should attend field days, talk to their neighbors, and stay connected with industry experts.

    “No single tool has all the answers; we encourage deeper engagement with UConn Extension specialists and other experts,” says Bonelli. “Whether it’s an online course, an app, or direct conversations, farmers benefit from a multi-faceted approach to managing risk.”

    This work is funded in partnership by USDA, Risk Management Agency, under award numbers RMA23CPT0013448 and RMA24CPT0013928.

    This work relates to CAHNR’s Strategic Vision area focused on Ensuring a Vibrant and Sustainable Agricultural Industry and Food Supply.

    Follow UConn CAHNR on social media

    MIL OSI USA News –

  • MIL-OSI USA: Mansfield Is Updating Its 10-Year Plan, and These Sophomores Want the UConn Community to Help

    Source: US State of Connecticut

    We encounter surveys all the time.

    On the bottom of a purchase receipt. While scrolling through social media feeds. On flyers with QR codes, and inside official-looking letters that show up in mailboxes.

    But how often do you actually take one of those surveys?

    What incentives would encourage you to take a survey?

    And would it be enough just knowing that your feedback on a survey could help shape the direction of a community or even an entire town – like the one that you live in, or work in, each and every day?

    A group of sophomores from the Innovation House Learning Community at UConn are hoping that a mix of incentives, outreach, enthusiasm, and good old-fashioned civic mindedness will encourage members of the UConn community to take a survey that will do just that: help shape the direction of the Connecticut town that UConn Storrs calls home.

    ‘Our Strategic Plan’

    “Anyone who thinks people will respond to a survey vastly, vastly overestimates,” says Michael Stankov ’17 (CLAS) ’18 MS, an environmental planner and inland wetlands agent for the town of Mansfield. “People don’t like surveys. They don’t do them.”

    But if you can effectively encourage people to take them, surveys still represent a good way to get valuable information and feedback from a large number of people.

    Mansfield Tomorrow is the town of Mansfield’s 10-year strategic plan.

    Which is why Stankov and his supervisor, Jennifer Kaufman – Mansfield’s director of planning and development – have spent a good portion of the past six months developing, promoting, and encouraging participation in a town-wide survey to help support the 2025 update to Mansfield’s plan of conservation and development.

    “Every town in Connecticut needs to update their plan of conservation and development, and that has to be done every 10 years,” explains Kaufman. “In Mansfield, our plan of conservation and development also serves as our strategic plan. Not only does it include items such as land use, where we want to grow, and what we want to preserve, it also includes other things, like budgetary considerations for our town council.”

    Mansfield’s last strategic plan, developed in 2015, is a wide-ranging 458-page document known as Mansfield Tomorrow, and it lays out priorities for the town that range from the amenities that influence people choosing to live in Mansfield to the economic and physical development of the community.

    The 2025 plan isn’t meant to be a complete rewrite, but rather an update that reflects changes in priorities and strategies that will naturally occur over the course of a decade, Kaufman says. An ad hoc committee as well as three working groups have been active since last fall, garnering feedback from the Mansfield community to help contribute to the update.

    “We have the town-wide survey that we’ve sent out,” Kaufman says. “We’ve done a mailing to everyone that has a mailbox in town. We’re having a public workshop. We’re going to the Senior Center for pop-up events. I’m going to the library’s story time, the library’s game night. We’re going to be doing door-to-door door hangers.

    “So, we feel like we’ve got the town’s community engagement, the town’s people.”

    But the engagement they haven’t really been able to get?

    It’s from UConn.

    ‘Very Intentional’

    In the fall of 2025, UConn Storrs will house an estimated 13,800 students, Kaufman explains, and under census guidelines, those students residing on campus at UConn are considered Mansfield residents.

    “In addition, besides people who are living in on-campus housing, we have about 4,000 students who live in the community in apartments, in single-family homes, and in condos,” she says. “So, the UConn population, while they only live in our town for four years, they’re a key part of the population. And they’re not necessarily plugged in to come to a town meeting, or they may not be using our library, or coming to our Mansfield Community Center, or going to the Senior Center.”

    And even beyond the students who live on and around the Storrs campus, there are thousands of additional members of the UConn community – including faculty and staff – who commute to Mansfield; who visit the downtown area; who enjoy Mansfield restaurants or frequent Mansfield businesses; or who make use of Mansfield’s parks, trails, and recreation services.

    The town wants to hear from those people, too.

    “It’s all too easy to fragment our lives into – ‘I live in a town and that’s the only town that I should have input in,’” says Stankov. “But we live in communities that are complex and that cross lots of towns, so we need to hear what people who don’t just live and pay taxes here want, because that helps us understand how to provide more services for more people.”

    But while UConn represents more than half Mansfield’s population, engagement from UConn in the 2015 strategic planning process wasn’t what Kaufman and Stankov would hope, and they want to change that this time around.

    “We’re trying to be very intentional about our outreach to the UConn population,” Kaufman says. “We need to kind of crack that nut of how we can reach out to the UConn community.”

    “Because of our weak penetration of the UConn bubble in 2015, we’ve really doubled down on trying to make sure that we understand what folks at UConn are thinking of,” says Stankov.

    But how do you get busy students – not to mention faculty and staff, who might not even live in town – to pay attention to and take a municipal survey?

    That’s where 18 undergraduates from Innovation House are playing an important part.

    ‘What Students Think’

    Innovation House is a multidisciplinary community that brings together entrepreneurial-minded students and offers mentorship opportunities and exposure to programs that help support entrepreneurship.

    That multidisciplinary nature is what drew Alishia Thompson ’27 (SFA), a digital media and design student from Putnam, to the community.

    “I wanted a mix of a bunch of different people from different majors and schools in the University and from all sorts of different backgrounds,” Thompson says.

    Michael Bossi ’27 (BUS), a business management major from Bristol, was drawn to the community through an interest in innovation and entrepreneurship.

    “I love thinking strategically about business and really just any kind of problem that you have to think critically to solve,” Bossi says. “That’s just always what’s been fun to me. That’s why I went into business management in the first place as well, and that led me to the Innovation House this past year.”

    For Carter Gay ’27 (CLAS), a double major in mathematics and physics from Canton, Innovation House seemed to align with his interests.

    Mansfield’s strategic plan sets out the town’s vision for not just conservation and development but for all of the municipality’s priorities.

    “You get to be part of a community of people, and they all live on the same floor,” Gay says. “I thought that was kind of cool. In the building where the housing is, there’s a maker’s space in the bottom, that’s pretty cool.”

    Despite their difference in majors, the three students – and many of their fellow sophomores in Innovation House – have something in common beyond their interest in innovation.

    None of them had ever really thought much about municipal planning.

    Last year, the Werth Institute for Entrepreneurship and Innovation took over responsibility for the Innovation House Learning Community. Kathy Rocha, the institute’s associate director, and Katie Britt, it’s director of leadership development, co-teach a required course with the community’s sophomore class that’s focused on the design thinking process – ideation, creativity, innovation, and entrepreneurship.

    “The plan for this semester was to come up with a project based in our area, in the Mansfield area, that the students could work on creatively to solve a problem,” says Rocha. “We didn’t know what the problem was, but it was a general idea.

    “I was talking with David Ouimette, and I told him about this, and he asked me if I had ever met Jennifer Kaufman. And I hadn’t. He said you should reach out to her.”

    So, she did.

    “Kathy made contact with me at the beginning of the semester,” says Kaufman, “and she said, ‘Hey, I want to work on a project for the town.’ And we said, ‘This is great.’”

    As the semester has progressed, Stankov has visited the class a few times, taking feedback from the students about how they thought the Mansfield Tomorrow survey might be improved, and learning about and helping them refine their plans for how to engage with other member of the UConn community encourage participation in the survey.

    “The goal is to figure out what students think about the surrounding area, whether that be that there’s not enough stores, not enough shops, or there’s not enough housing, there’s not enough public walkways, that sort of thing,” says Gay. “How we can develop the area better, not only to suit the needs of everybody, but really to help UConn students?”

    ‘Our Whole Story’

    The students, who divided themselves into teams focused on each different UConn demographic – students, faculty, and staff – have developed creative plans utilizing their diverse experiences and skills in order to engage the UConn community on Mansfield’s behalf.

    With the ideation phase of their project complete, they’ll soon be shifting into action, putting flyers around campus and asking their own professors and the University staff they work with to complete the survey, which is online and only takes five-to-10 minutes, before working on broader outreach to faculty and staff.

    In addition to the gift-card giveaways that the town has for anyone who completes the survey, some student-only incentives will be on offer as well, including a UConn jersey, a basketball signed by Coach Auriemma, and gift cards to Barnes & Noble.

    And, they’ll be out on campus on April 1 and 2 offering free cookies to any student who takes the survey.

    Conn sophomores in the Innovation House will be sharing flyers around campus at events detailing incentives for students to complete the Mansfield Tomorrow survey.

    “We all agreed that, if there’s one thing we know that can get college students to participate in things, it’s free food,” Thompson says.

    Every response, says Bossi, adds to crucial data that the town needs to help guide its decision-making.

    “Our goal is to help the town of Mansfield, really, and more measurable in our class is to get as many responses as possible,” Bossi says. “My goal is to shoot for the stars with the amount of responses we can get – I want thousands of responses on that survey, from every demographic.”

    Thousands of responses might be a lofty goal, says Stankov – hundreds might be more realistic. For Kaufman, their overarching aim is to strike a balance between understanding the needs of the UConn community and building a plan that addresses the whole of Mansfield’s population.

    “We value the UConn community – we, personally, have great relationships with people at UConn, like Nathan Fuerst, John Armstrong, and Phil Hunt – and I think the town and the University, over the past few years, have really done a great job in working together,” Kaufman says. “We know that UConn students make up over half of our residents, and so we are, again, being intentional so that we’ll be able to tell that as just a part of our whole story.”

    ‘Such An Impact’

    Though it’s unlikely that most of the Innovation House students – including Bossi, Gay, and Thompson – will go on to pursue a career in municipal planning, the learning opportunities from this project go far beyond any future plans, explains Rocha.

    “It’s about creative thinking,” she says. “They’re working on collaboration with each other, as well as with the town of Mansfield. Adaptability – they’ve had to be very flexible in what they’re doing. And then finally, it’s the execution, the project management, and that’s the one that students really don’t often get a chance to do.

    “They get into all of this stuff, and then putting together the plan and seeing the plan through –that’s a big one.”

    That aspect of the project hasn’t been lost on Thompson, the digital media and design major.

    “While I’m not necessarily going to be a municipal planner in my future, there’s still a lot of skills and aspects of this that are really critical for a job in the DMD department, especially in the animation field,” Thompson says. “Animation is all about collaboration, communication, and teamwork and, in some cases, leadership as well. This project and this program, that we’re trying to – it is literally asking for all of those skills.”

    For Gay, the math and physics major, and for Bossi, the business management major, participating in the project has given them a new empathy for the work that town officials are doing and a new appreciation for the role that they get to play in the process.

    “I think it’s really meaningful, because it’s something real,” Gay says. “In a lot of classes, you’ll do something like this, and it’ll be a ‘mock’ something, not real. But this is legitimate, real-world. And the town really just wants information on how they can improve and help make things better.”

    “I can even see myself skipping out on a survey like this,” says Bossi. “But I really, truly do mean – from the bottom of my heart – that this whole project is done with very good intentions. We aren’t seeking a financial gain; we’re just seeking to help the place that houses all of our students. Mansfield houses UConn, and taking just five minutes or less to fill out a survey can make such an impact.”

    All members of the UConn Storrs community – students, faculty, and staff, regardless of town of residence – are encouraged to contribute to Mansfield’s strategic planning by completing the Mansfield Tomorrow survey at MansfieldTomorrow.org.

    UConn students are invited to join the Innovation House class on Fairfield Way on April 1, 2025, from 11:00 a.m. to 2:00 p.m., and in the Student Union on April 2, 2025, from 11:00 a.m. to 2:00 p.m., to take the Mansfield Tomorrow survey, get a free cookie, and be entered for a chance to win a raffle prize.

    MIL OSI USA News –

  • MIL-OSI: Provident Financial Services, Inc. Schedules First Quarter Earnings Conference Call

    Source: GlobeNewswire (MIL-OSI)

    ISELIN, N.J., April 01, 2025 (GLOBE NEWSWIRE) — Provident Financial Services, Inc. (NYSE: PFS) announced that it expects to release financial results for the quarter ended March 31, 2025 on Thursday, April 24, 2025 after market close. A copy of the earnings release will be immediately available on the Company’s website, www.Provident.Bank, by going to Investor Relations and clicking on Press Releases.

    Representatives of the Company will hold a conference call for investors on April 25, 2025 at 10:00 a.m. (ET) to discuss the Company’s first quarter financial results. Information about the conference call is as follows:

      Participant Toll-Free Dial-In Number:   1-888-412-4131
      Participant Toll Dial-In Number:   1-646-960-0134
      Conference ID:   3610756
           

    Internet access to the call will be available (listen only) at www.Provident.Bank by going to Investor Relations and clicking on Webcast.

    A replay of the call will be available beginning at 12:00 noon (ET) on April 25, 2025 until 11:59 p.m. (ET) on May 9, 2025.

      Toll Free Dial in Number:   1-800-770-2030
      Toll Dial in Number:   1-609-800-9909
      Conference ID:   3610756 followed by # key
           

    The call will also be archived on the Company’s website for a period of one year.

    Provident Financial Services, Inc. is the holding company for Provident Bank. As of December 31, 2024, the Company reported assets of $24.05 billion. The Bank currently operates a network of full-service branches throughout New Jersey, eastern Pennsylvania, and Orange, Queens, and Nassau Counties, New York. The Bank also provides fiduciary and wealth management services through its wholly owned subsidiary, Beacon Trust Company, and insurance services through its wholly owned subsidiary, Provident Protection Plus, Inc.
    SOURCE: Provident Financial Services, Inc.

    CONTACT: Investor Relations, 1-732-590-9300

    Web Site: http://www.Provident.Bank

    The MIL Network –

  • MIL-OSI: NANO Nuclear Energy Bolsters its Regulatory Licensing Team with the Addition of Veteran Nuclear Professional Brent Hamilton as Director of Quality Assurance

    Source: GlobeNewswire (MIL-OSI)

    New York, N.Y., April 01, 2025 (GLOBE NEWSWIRE) — NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear energy and technology company focused on developing clean energy solutions, today announced the appointment Brent Hamilton as its Director of Quality Assurance.

    This appointment continues a series of important additions to NANO Nuclear’s engineering, scientific and regulatory licensing personnel as the Company seeks to progress its proprietary, advanced nuclear micro reactor designs through construction, demonstration, regulatory licensing and ultimately commercialization.

    Mr. Hamilton has over 26 years of quality control, quality engineering, and quality assurance experience, primarily in nuclear construction for commercial nuclear, Department of Energy projects, and nuclear fuel manufacturing. In these roles, he gained extensive experience in the development of Quality Management Systems and their implementation. Each were focused on meeting key regulatory licensing regulatory requirements, including those included as part 10 CFR Part 50, Appendix B; 10 CFR Part 70; 10 CFR Part 830; DOE O 414.1D; and/or CSA N286. His experience and knowledge are expected to be of great benefit in the identification of critical project attributes and the development of processes to validate them.

    “It is an honor to assume this role and contribute my expertise in implementing robust quality assurance programs for NANO Nuclear’s reactors in development,” said Brent Hamilton, Director of Quality Assurance of NANO Nuclear. “My background spans multiple nuclear initiatives, and I firmly believe that the U.S. nuclear industry’s future depends on innovative, dedicated teams like the one at NANO Nuclear. I look forward to helping ensure that all of NANO Nuclear’s technologies are built to the highest quality standards as we advance our plans.”

    Figure 1 – NANO Nuclear Energy Inc. Appoints Brent Hamilton as its Director of Quality Assurance.

    Mr. Hamilton is expected to bring invaluable insight and guidance as NANO Nuclear’s reactor development projects move forward. Mr. Hamilton has held quality leadership positions in projects such as: early site work for the Plutonium Processing Facility at the Savannah River National Laboratory (SRNL); development of manufacturing scale processes for TRISO fuel and establishment of a pilot facility in Oak Ridge, Tennessee; and construction of the Spent Fuel Handing Project (SFHP) for the Naval Reactors Facility in Idaho. Mr. Hamilton has spent many years involved with the construction of the AP1000 reactor projects in Georgia and South Carolina and the Depleted Uranium Hexafluoride Conversion Facility in Kentucky.

    “NANO Nuclear is rapidly expanding its roster with veteran nuclear energy professionals who have in-depth experience working closely with the U.S. Department of Energy, and Brent’s arrival reflects that trend and our commitment to retaining the best talent we can,” said Jay Yu, Founder and Chairman of NANO Nuclear. “His expertise aligns perfectly with our vision to advance our reactor designs to the next stage of development and I’m confident he will be a key contributor to NANO Nuclear’s growth.”

    “Brent is a highly experienced professional who brings a comprehensive understanding of nuclear reactor development, particularly our newly acquired KRONOS MMR™ Energy System and portable LOKI MMR™ from his tenure at Ultra Safe Nuclear Corporation,” said James Walker, Chief Executive Officer of NANO Nuclear. “His continuity in this area will be essential as we work to quickly move our reactors through the next stages of development. I am pleased to welcome a professional of his caliber to our expanding team.”

    About NANO Nuclear Energy, Inc.

    NANO Nuclear Energy Inc. (NASDAQ: NNE) is an advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across five business lines: (i) cutting edge portable and other microreactor technologies, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.

    Led by a world-class nuclear engineering team, NANO Nuclear’s reactor products in development include patented KRONOS MMR™ Energy System, a stationary high-temperature gas-cooled reactor that is in construction permit pre-application engagement U.S. Nuclear Regulatory Commission (NRC) in collaboration with University of Illinois Urbana-Champaign (U. of I.), “ZEUS”, a solid core battery reactor, and “ODIN”, a low-pressure coolant reactor, and the space focused, portable LOKI MMR™, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors.

    Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, is led by former executives from the largest transportation company in the world aiming to build a North American transportation company that will provide commercial quantities of HALEU fuel to small modular reactors, microreactor companies, national laboratories, military, and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. Assuming development and commercialization, AFT is expected to form part of the only vertically integrated nuclear fuel business of its kind in North America.

    HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.

    NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear’s developing micronuclear reactor technology in space. NNS is focusing on applications such as the LOKI MMR™ system and other power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon’s surface.

    For more corporate information please visit: https://NanoNuclearEnergy.com/

    For further NANO Nuclear information, please contact:

    Email: IR@NANONuclearEnergy.com
    Business Tel: (212) 634-9206

    PLEASE FOLLOW OUR SOCIAL MEDIA PAGES HERE:

    NANO Nuclear Energy LINKEDIN

    NANO Nuclear Energy YOUTUBE

    NANO Nuclear Energy X PLATFORM

    Cautionary Note Regarding Forward Looking Statements

    This news release and statements of NANO Nuclear’s management in connection with this news release contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. In this press release, forward-looking statements include those related to the anticipated benefits to NANO Nuclear of the appointment of Mar. Hamilton, as well as the Company’s regulatory plans in general, as described herein. These and other forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”) or related state or non-U.S. nuclear fuel licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complimentary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues and the development of competitive technology, (iii) our ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology in the timelines we anticipate, if ever, (v) risks related to the impact of U.S. and non-U.S. government regulation, policies and licensing requirements, including by the DOE and the U.S. Nuclear Regulatory Commission, including those associated with the recently enacted ADVANCE Act, and (vi) similar risks and uncertainties associated with the operating an early stage business a highly regulated and rapidly evolving industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

    Attachment

    The MIL Network –

  • MIL-OSI: Occidental Announces Results of Offer to Exercise Warrants at a Temporarily Reduced Price

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, April 01, 2025 (GLOBE NEWSWIRE) — Occidental (NYSE: OXY) today announced the results of its offer to exercise Occidental’s outstanding publicly traded warrants (the “Warrants”) at a temporarily reduced price of $21.30 per Warrant (the “Offer”). The Offer expired at 5:00 p.m. Eastern Time on March 31, 2025.

    Based on the final count by Equiniti Trust Company, LLC, the depositary agent for the Offer, 41,941,075 Warrants were tendered and not validly withdrawn (including 69,166 Warrants tendered pursuant to the guaranteed delivery procedures available pursuant to the Offer). Occidental will issue 41,871,909 shares of Occidental’s common stock, $0.20 par value per share (“Common Stock”), and receive $891.9 million of aggregate proceeds in respect of the Warrants exercised, excluding the Warrants tendered pursuant to the guaranteed delivery procedures. If all of the guaranteed deliveries are consummated in accordance with the terms of the Offer, Occidental will issue an additional 69,166 shares of Common Stock and receive an additional $1.5 million of aggregate proceeds in respect of the Warrants tendered pursuant to guaranteed delivery. The Warrants that were not tendered and exercised in connection with the Offer remain in effect at an exercise price of $22.00 per Warrant.

    The Offer was subject to the terms and conditions set forth in the Offer to Exercise Warrants to Purchase Common Stock of Occidental Petroleum Corporation, dated March 3, 2025, filed as an exhibit to Occidental’s Schedule TO filed with the U.S. Securities and Exchange Commission (“SEC”) on March 3, 2025.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Common Stock.

    About Occidental
    Occidental is an international energy company with assets primarily in the United States, the Middle East and North Africa. We are one of the largest oil and gas producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of America. Our midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas, and includes our Oxy Low Carbon Ventures subsidiary, which is advancing leading-edge technologies and business solutions that economically grow our business while reducing emissions. Our chemical subsidiary OxyChem manufactures the building blocks for life-enhancing products. We are dedicated to using our global leadership in carbon management to advance a lower-carbon world.

    Cautionary Statement Regarding Forward-Looking Statements

    This press release contains forward-looking statements, including, but not limited to, statements about Occidental’s expectations, beliefs, plans or forecasts. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including, but not limited to: any projections of earnings, revenue or other financial items or future financial position or sources of financing; any statements of the plans, strategies and objectives of management for future operations or business strategy; any statements regarding future economic conditions or performance; any statements of belief; and any statements of assumptions underlying any of the foregoing. Words such as “estimate,” “project,” “predict,” “will,” “would,” “should,” “could,” “may,” “might,” “anticipate,” “plan,” “intend,” “believe,” “expect,” “aim,” “goal,” “target,” “objective,” “commit,” “advance,” “likely” or similar expressions that convey the prospective nature of events or outcomes are generally indicative of forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release unless an earlier date is specified. Unless legally required, Occidental does not undertake any obligation to update, modify or withdraw any forward-looking statements as a result of new information, future events or otherwise.

    Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties. Actual outcomes or results may differ from anticipated results, sometimes materially. Factors that could cause results to differ from those projected or assumed in any forward-looking statement include, but are not limited to: general economic conditions, including slowdowns and recessions, domestically or internationally; Occidental’s indebtedness and other payment obligations, including the need to generate sufficient cash flows to fund operations; Occidental’s ability to successfully monetize select assets and repay or refinance debt and the impact of changes in Occidental’s credit ratings or future increases in interest rates; assumptions about energy markets; global and local commodity and commodity-futures pricing fluctuations and volatility; supply and demand considerations for, and the prices of, Occidental’s products and services; actions by the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil producing countries; results from operations and competitive conditions; future impairments of Occidental’s proved and unproved oil and gas properties or equity investments, or write-downs of productive assets, causing charges to earnings; unexpected changes in costs; inflation, its impact on markets and economic activity and related monetary policy actions by governments in response to inflation; availability of capital resources, levels of capital expenditures and contractual obligations; the regulatory approval environment, including Occidental’s ability to timely obtain or maintain permits or other government approvals, including those necessary for drilling and/or development projects; Occidental’s ability to successfully complete, or any material delay of, field developments, expansion projects, capital expenditures, efficiency projects, acquisitions or divestitures; risks associated with acquisitions, mergers and joint ventures, such as difficulties integrating businesses, uncertainty associated with financial projections or projected synergies, restructuring, increased costs and adverse tax consequences; uncertainties and liabilities associated with acquired and divested properties and businesses; uncertainties about the estimated quantities of oil, natural gas liquids and natural gas reserves; lower-than-expected production from development projects or acquisitions; Occidental’s ability to realize the anticipated benefits from prior or future streamlining actions to reduce fixed costs, simplify or improve processes and improve Occidental’s competitiveness; exploration, drilling and other operational risks; disruptions to, capacity constraints in, or other limitations on the pipeline systems that deliver Occidental’s oil and natural gas and other processing and transportation considerations; volatility in the securities, capital or credit markets, including capital market disruptions and instability of financial institutions; government actions (including geopolitical, trade, tariff and regulatory uncertainties), war (including the Russia-Ukraine war and conflicts in the Middle East) and political conditions and events; health, safety and environmental (HSE) risks, costs and liability under existing or future federal, regional, state, provincial, tribal, local and international HSE laws, regulations and litigation (including related to climate change or remedial actions or assessments); legislative or regulatory changes, including changes relating to hydraulic fracturing or other oil and natural gas operations, retroactive royalty or production tax regimes, and deep-water and onshore drilling and permitting regulations; Occidental’s ability to recognize intended benefits from its business strategies and initiatives, such as Occidental’s low-carbon ventures businesses or announced greenhouse gas emissions reduction targets or net-zero goals; potential liability resulting from pending or future litigation, government investigations and other proceedings; disruption or interruption of production or manufacturing or facility damage due to accidents, chemical releases, labor unrest, weather, power outages, natural disasters, cyber-attacks, terrorist acts or insurgent activity; the scope and duration of global or regional health pandemics or epidemics, and actions taken by government authorities and other third parties in connection therewith; the creditworthiness and performance of Occidental’s counterparties, including financial institutions, operating partners and other parties; failure of risk management; Occidental’s ability to retain and hire key personnel; supply, transportation and labor constraints; reorganization or restructuring of Occidental’s operations; changes in state, federal or international tax rates; and actions by third parties that are beyond Occidental’s control.

    Additional information concerning these and other factors that may cause Occidental’s results of operations and financial position to differ from expectations can be found in Occidental’s filings with the SEC, including Occidental’s Annual Report on Form 10-K for the year ended December 31, 2024, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

    Contacts

    The MIL Network –

  • MIL-OSI Global: Canada a 51st state? Here’s how American annexation could actually favour Canada

    Source: The Conversation – Canada – By Felix Arndt, Professor and John F. Wood Chair in Entrepreneurship, University of Guelph

    When United States President Donald Trump first floated the idea of annexing Canada, many observers rolled their eyes. The common assumption was that this proposal, like much of Trump’s bombast, amounted to little more than a fleeting soundbite.

    Yet, amid continuing public remarks about Canada becoming the 51st state and suggestions of genuine intent, the idea has become part of a broader conversation about North America’s future.

    The idea of the U.S. merging with Canada outright has not been received well in Canada, especially because Trump’s threats have been accompanied by economic warfare aimed at forcing Canada into submission. After all, the U.S. already has 50 states. Canada, with its population of about 40 million and its immense geographic size, would be an outsized “51st” by any comparison.

    But any serious analysis of this proposition quickly reveals that annexation would be far more complicated — and far less one-sided — than the label “51st state.”

    Our analysis is premised on an assumption that the U.S. remains a democratic system that has not turned into a pseudo-monarchy, in keeping with a Trump social media post in early February proclaiming “long live the King.”

    The most important takeaway from our analysis is that a unified country would need to inaugurate a new president and Parliament. The path towards the integration of the countries would have to start with closer economic integration, not the alienation currently in place.

    A multi-state reality

    As we argue in our newest self-published book Make America Greater? A Scenario of a Friendly Canada-U.S. Merger, Canada would not simply become part of the U.S. as a single state under the provisions of the American Constitution.

    Based on population and the distribution of power in U.S. Congress, Canada’s 10 provinces and three northern territories would almost certainly be carved into multiple states, perhaps nine or more.

    This is no small detail.

    America’s unique electoral arithmetic grants each state two senators, while seats in the House of Representatives depend on population size. With around 40 million new citizens, a unified North America would reshape the balance of power in both the Senate and the House.



    Read more:
    Canada as a 51st state? Republicans would never win another general election

    Critically, the new country formed via unification might end up looking far more like Canada than many Americans imagine.

    Why? Canadian voters lean more centrist — or even centre-left — than the average American does. Over time, that could tilt congressional priorities in favour of policies reflecting Canada’s taste for universal health care, stricter gun control and robust social welfare.

    The longstanding political tug-of-war in the U.S. could see its centre of gravity shift, likely to the chagrin of some more conservative segments of the existing union.

    Tariffs, politics and tensions

    Officials on both sides of the border are already locked in a dance of retaliatory tariffs.

    Each new measure escalates anxieties, threatening to derail one of the world’s largest bilateral trading relationships.

    Some might argue that if tariffs are putting negative pressures on the economy and roiling the markets, perhaps deeper integration — or even full-blown unification — could serve as a release valve. But the path towards a friendly merger is best taken step-by-step and starts with stronger economic integration, not alienation.



    Read more:
    Canada’s response to Trump’s tariffs was strategic, but there is room for improvement

    Forging a genuine union goes well beyond removing trade barriers. Canada and the U.S. differ on far more than just economics: from bilingualism laws to gun regulations, from health care to environmental policy, the two countries embody contrasting visions of how society should function.

    Canadians would expect to preserve elements of their social contract that many regard as superior to American norms — particularly their single-payer health-care system and comparatively strict firearms restrictions.

    A process genuinely aimed at integrating the two countries would take this into account. It would extend the United States-Mexico-Canada trade deal further to strengthen economic integration, elevate the rights of French and Spanish speakers in the U.S. in order to signal compatible cultural values and extend Medicare to show an appreciation of the common denominators of the two societies.

    Trump’s current rhetoric, however, does not seem to indicate a genuine desire for a unification.

    Why a merger could favour Canada

    As surprising as it seems, our analysis suggests that a unified North America could lean Canada’s way over time.

    Even if the American Electoral College were reimagined — or scrapped — Canadian provinces transformed into states would wield significant power, influencing everything from budget allocations to Supreme Court appointments.



    Read more:
    As Joe Biden becomes president, here’s an easy proposal for Electoral College reform

    What’s more, cultural convergence has an asymmetrical pull. Younger Americans show a growing appetite for social safety nets, while Canadians remain broadly wedded to their publicly funded health-care model.

    Over a few election cycles, these forces could converge into a more expansive welfare regime, something that would astonish traditional conservatives across the current 50 states.

    A combined North America would boast one of the largest economies on Earth, including abundant natural resources and technological innovation.

    The promise of frictionless trade, a single currency and vast internal markets might delight big business and certain multinational interests. Yet the path would be fraught.

    Constitutional arrangements, Indigenous rights, linguistic protections and environmental regulations — all areas in which Canadian norms diverge significantly from American precedents — would have to be reconciled.

    Canadians, proud of their universal healthcare, progressive climate policies and lower rates of gun violence, would worry about being subsumed by a more rambunctious, militarized neighbour. Americans, meanwhile, would fear they would be forced to adopt new taxes and policies at odds with their historic emphasis on individual freedoms.

    A country more closely resembling Canada

    Regardless of whether Trump’s annexation talk proves more than just bluster, the notion of a friendly U.S.–Canada merger invites reflection. It reminds us that North America’s two largest nations remain economically interlocked and geographically co-located, though culturally distinct.

    With tariffs in place and cross-border tensions mounting, creative solutions are worth examining, even if a merger can — at best — be seen as a long-term vision.

    A genuine offer of a merger would require that Canadians to be assured that if such a union did transpire, their voices might echo far more loudly than expected in the halls of Washington, D.C.

    And Americans — facing shifting demographics and changing societal values — may discover that the annexation Trump initiated could bring surprises that tilt the new country much closer to its northern neighbour’s ideals than to the status quo below the 49th parallel.

    Felix Arndt is an author of a book referred to in this article.

    Barak Aharonson is an author of a book with a similar topic.

    – ref. Canada a 51st state? Here’s how American annexation could actually favour Canada – https://theconversation.com/canada-a-51st-state-heres-how-american-annexation-could-actually-favour-canada-251547

    MIL OSI – Global Reports –

  • MIL-OSI Banking: BaFin warns of the Brahams & Goldbach Group

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The German Federal Financial Supervisory Authority (BaFin) is warning of offers made by the Brahams & Goldbach Group. According to its findings, the company offers, in particular, the alleged brokerage of fixed-term and overnight deposits with European banks.

    The website brahams-goldbach-group.com also presents further capital investment opportunities. The operator also appears there under the name ‘MA BV Brahams & Goldbach Group’. Addresses in Amsterdam, the Netherlands, and Brussels, Belgium, are given on the website as business addresses. In forms used by the Brahams & Goldbach Group, a further address in Pijnacker, the Netherlands, is also given.

    Anyone offering banking transactions or financial and investment services in Germany requires a licence from BaFin. However, some companies offer such services without having the required licence. You can find information on whether a particular company is authorised by BaFin in the company database.

    The information provided by BaFin is based on Section 37 (4) of the German Banking Act (Kreditwesengesetz).

    You should know this!

    BaFin issues warnings about dubious fixed-term deposit offers.

    In the ‘Recognising financial fraud’ section, you will find current warnings from BaFin about unauthorised companies and learn how you can protect yourself from further fraud on the financial market.

    MIL OSI Global Banks –

  • MIL-OSI United Kingdom: £302m for further education colleges to fix dilapidated buildings

    Source: United Kingdom – Executive Government & Departments

    Press release

    £302m for further education colleges to fix dilapidated buildings

    FE college groups across England will receive a share of £302m to fix, maintain and improve their buildings under government’s Plan for Change

    Leaky roofs, broken windows and dilapidated buildings at further education colleges across England will be repaired thanks to a £302m government cash injection announced today (1 April), ensuring they can continue to break down barriers to opportunity as part of the government’s Plan for Change.

    The funding, which was announced by the Chancellor in the Budget in October, is the first condition allocation for FE colleges in two years, demonstrating the government’s commitment to investing in the next generation by fixing, maintaining and improving college buildings.

    This will also ensure FE Colleges are able to attract and retain learners, helping to boost the economy.

    The government has listened to feedback from the sector, and for the first time is giving FE colleges the discretion and flexibility to decide how the funding should be spent – recognising providers are best placed to determine their own priorities to improve the condition and prevent the deterioration of their estate. 

    Skills Minister Jacqui Smith said:

    Further education colleges are at the heart of our mission to grow the economy and train the next generation of skilled workers under our Plan for Change.

    But the college estate we inherited is simply not fit for purpose. Today’s funding addresses these issues, allowing colleges to focus on what they do best: breaking down barriers to opportunity and inspiring the workforce of the future.

    Colleges in Greater Manchester and Leeds will also benefit from a £20m boost to capacity funding for 16-19 year olds to address a shortage of places.

    The funding will create much needed places across the two areas, ensuring more learners will be able to access crucial skills training

    Among those to benefit will be Calderdale College in West Yorkshire, which will use the capital funding to expand its much-needed capacity in construction and professional trades workshops. The funding will also support the creation of an additional classroom within Mill Studios, the College’s state-of-the-art digital and creative centre.

    Andrew Harrison, Vice Principal for Corporate Services at Calderdale College, said:

    We welcome this investment from the Government’s Autumn budget, which will enable us to further enhance the experience for our students. This follows the success of our recent £7.5 million transformation project, completed in August 2024, which focused on refurbishing our ageing estate.

    As well as modernising our facilities, the project significantly improved our energy efficiency, cutting costs by 40% and making a major step forward in our carbon reduction edits.

    This follows the Chancellor’s announcement of £100 million of new investment to further build capacity in the construction sector, establishing ten new Technical Excellence Colleges. This is part of a £625m investment that will help to train up to 60,000 more engineers, electricians and builders by 2029.

    The government continues to improve post-16 education, with changes to English and maths requirements that will see up to 10,000 more apprentices qualify each year in key sectors, and new shorter apprenticeships announced during National Apprenticeship Week. Changes to end point assessments will also mean it is even easier for businesses and providers to support getting people into the workforce. 

    Last year the Education Secretary announced new Construction Skills Hubs, funded by industry, which will also speed up the training of construction workers crucial to supporting the government’s homebuilding drive. 

    DfE media enquiries

    Central newsdesk – for journalists 020 7783 8300

    Updates to this page

    Published 1 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI Europe: Press release – MEPs approve new financial aid package for Egypt and Jordan

    Source: European Parliament 3

    On Tuesday, MEPs approved two proposals granting Jordan and Egypt loans worth €500 million and €4 billion respectively.

    The macro-financial assistance (MFA) for Egypt was adopted by Parliament by 452 votes in favour, 182 against and 40 abstentions. The MFA for Jordan was passed by 571 votes in favour, 59 against and 46 abstentions.

    Given Egypt’s critical economic and financial situation and its role as an important stabilising presence amid geopolitical tensions in an increasingly volatile region, the Commission proposed to support the country on 15 March 2024 with macro-financial assistance in the form of loans worth up to €5 billion. These break down into a short-term loan of up to €1 billion – already disbursed at the end of 2024 – and another, regular, loan of up to €4 billion to be disbursed in three instalments. Parliament approved the proposal.

    For Jordan this is the fourth MFA effort by the EU since 2013. It should help cover the country’s residual financing needs, support its structural reforms, and shore up its fiscal consolidation efforts. In January 2025, the Commission announced an additional financial package to help Jordan deal with existing financial and other challenges.

    A pre-condition for the EU granting financial assistance shall be that Jordan respects effective democratic mechanisms – including a multi-party parliamentary system – and the rule of law, and guarantees for respect of human rights.

    Quote

    Rapporteur Celine Imart (EPP, France), said:

    « This vote underlines Parliament’s support for our partners. The money for Jordan can be delivered quickly, and Parliament will enter into negotiations with member states on the proposal for Egypt with a strong mandate to make a swift agreement. Helping our partners means promoting European interests in an unstable region.”

    Next steps

    The MFA package for Jordan now needs to be formally approved by the Council before it can take effect. On financial aid for Egypt, negotiations between Council and Parliament are expected to start soon.

    Background

    These loans are part of financial support packages concluded with EU partner countries struggling with financial, economic, societal challenges, to help with structural political and economic reforms.

    MIL OSI Europe News –

  • MIL-OSI: LeddarTech Enters Into Further Amendments to Credit Facility and Bridge Financing Offer and Announces Receipt of Nasdaq Deficiency Notice

    Source: GlobeNewswire (MIL-OSI)

    QUEBEC CITY, Canada, April 01, 2025 (GLOBE NEWSWIRE) — LeddarTech® Holdings Inc. (“LeddarTech”) (Nasdaq: LDTC), an automotive software company that provides patented disruptive AI-powered low-level sensor fusion and perception software technology, LeddarVision™, today announced that it has entered into:

    • a seventeenth amending agreement (the “Seventeenth Amending Agreement”) with Fédération des caisses Desjardins du Québec (“Desjardins”) with respect to the amended and restated financing offer dated as of April 5, 2023 (the “Desjardins Credit Facility”), pursuant to which Desjardins has agreed to, among other things, (i) temporarily postpone payment of interest for the months of July through December 2024 until the earlier of (x) the date of the final disbursement of one or several equity investments in the borrower for minimum gross proceeds amount of US$35,000,000 in the aggregate (the “Short-Term Outside Date”), and (y) May 23, 2025; and (ii) decrease the minimum cash covenant under the Desjardins Credit Facility to C$1,800,000;
    • a fifth amending agreement (the “Fifth Amending Agreement”) with the initial bridge lenders and certain members of management and the board of directors (collectively, the “Bridge Lenders”) with respect to the bridge financing offer dated as of August 16, 2024 (the “Bridge Financing Offer”) pursuant to which the Bridge Lenders have agreed to, among other things, extend the maturity of the bridge loan to the earlier of (x) May 23, 2025 and (y) the business day following the Short-Term Outside Date.

    The Seventeenth Amending Agreement to the Desjardins Credit Facility and the Fifth Amending Agreement to the Bridge Financing Offer also provide that LeddarTech must initiate and produce a plan at the satisfaction of Desjardins and the other initial Bridge Lenders regarding a refinancing, recapitalization or any suitable transaction (the “Plan”). LeddarTech continues to fully consider all potential sources of financing and/or other alternatives. There is no certainty that LeddarTech will be able to raise additional funds and there can be no assurance that LeddarTech will be successful in pursuing and implementing any such alternatives (including the Plan), nor any assurance as to the outcome or timing of any such alternatives.

    In addition, the Seventeenth Amending Agreement to the Desjardins Credit Facility provides for a monthly payment by LeddarTech to Desjardins of C$125,000, which monthly fee is earned and payable on the first day of each month, until the Short-Term Outside Date, which must occur on or prior to May 23, 2025. The payment of the monthly fees applicable for the month of August 2024 and for the months up until (and including) January 2025 is postponed to the earlier of (x) the Short-Term Outside Date and (y) May 23, 2025.

    The foregoing descriptions of the Seventeenth Amending Agreement to the Desjardins Credit Facility and the Fifth Amending Agreement to the Bridge Financing Offer do not purport to be complete and are qualified in their entirety by reference to such amendments, copies of which will be filed under LeddarTech’s SEDAR+ and EDGAR profiles at www.sedarplus.ca and www.sec.gov, respectively.

    Receipt of Nasdaq Deficiency Notice

    LeddarTech also announces that it has received a letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC indicating that, based upon the closing bid price of LeddarTech’s common shares for the 30 consecutive business day period from February 14, 2025 to March 28, 2025, LeddarTech did not comply with the minimum market value of listed securities (“MVLS”) of US$35,000,000 (the “Listing Requirement”). The letter also indicated that LeddarTech will be afforded a period of 180 calendar days to regain compliance.

    LeddarTech intends to actively monitor the MVLS of its common shares and will evaluate available options to regain compliance with the Listing Requirement. However, there can be no assurance that LeddarTech will be able to regain compliance with such Listing Requirement or maintain compliance with any of the other Nasdaq Capital Market continued listing requirements. Readers should also refer to the press release issued by LeddarTech on March 21, 2025 with respect to the non-compliance with the minimum bid price of US$1.00 per share required for continued listing on the Nasdaq Capital Market.

    The letter has no immediate effect on the listing of LeddarTech’s common shares, which will continue to be listed and traded on the Nasdaq Capital Market under the symbol “LDTC,” subject to LeddarTech’s compliance with the other continued listing requirements of the Nasdaq Capital Market.

    The foregoing also should be read in conjunction with the disclosures set forth in LeddarTech’s Report of Foreign Private Issuer on Form 6-K as filed with the Securities and Exchange Commission and under LeddarTech’s SEDAR+ profile on the date hereof, and LeddarTech’s Annual Report on Form 20-F for the year ended September 30, 2024 as filed with the Securities and Exchange Commission and under LeddarTech’s SEDAR+ profile on December 26, 2024, including the disclosures set forth under “Item 3.D – Key Information – Risk Factors” contained therein.

    About LeddarTech

    A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.

    LeddarTech is responsible for several remote-sensing innovations, with over 170 patent applications (87 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.

    Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter (X), Facebook and YouTube.

    Forward-Looking Statements

    Certain statements contained in this Press Release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which forward-looking statements also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements relating to LeddarTech’s anticipated strategy, future operations, prospects, objectives and financial projections and other financial metrics. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (i) our ability to continue to maintain compliance with Nasdaq continued listing standards following our transfer to the Nasdaq Capital Market; (ii) our ability to timely access sufficient capital and financing on favorable terms or at all; (iii) our ability to maintain compliance with our debt covenants, including our ability to enter into any forbearance agreements, waivers or amendments with, or obtain other relief from, our lenders as needed; (iv) discussions regarding potential alternatives relating to refinancing, recapitalization or any suitable transaction (including the Plan); (v) our ability to execute on our business model, achieve design wins and generate meaningful revenue; (vi) our ability to successfully commercialize our product offering at scale, whether through the collaboration agreement with Texas Instruments, a collaboration with a Tier 2 supplier or otherwise; (vii) changes in our strategy, future operations, financial position, estimated revenues and losses, projected costs and plans; (viii) changes in general economic and/or industry-specific conditions; (ix) our ability to retain, attract and hire key personnel; (x) potential adverse changes to relationships with our customers, employees, suppliers or other parties; (xi) legislative, regulatory and economic developments; (xii) the outcome of any known and unknown litigation and regulatory proceedings; (xiii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak of war or hostilities and any epidemic, pandemic or disease outbreak, as well as management’s response to any of the aforementioned factors; and (xiv) other risk factors as detailed from time to time in LeddarTech’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risk factors contained in LeddarTech’s Form 20-F filed with the SEC. The foregoing list of important factors is not exhaustive. Except as required by applicable law, LeddarTech does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:
    Chris Stewart, Chief Financial Officer, LeddarTech Holdings Inc.

    Tel.: + 1-514-427-0858, chris.stewart@leddartech.com

    Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

    LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”

    The MIL Network –

  • MIL-OSI: ISS Recommends Shareholders Vote “FOR” Amplify’s Proposed Acquisition of Assets from Juniper Capital

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, April 01, 2025 (GLOBE NEWSWIRE) — Amplify Energy Corp. (NYSE: AMPY) (“Amplify” or the “Company”) announced that Institutional Shareholder Services (“ISS”), a leading independent proxy advisory firm, has recommended that shareholders vote “FOR” the Company’s proposed merger with Juniper Capital’s upstream Rocky Mountain portfolio companies. The Company issued the following statement in response to ISS’ recommendation:

    The Amplify Board of Directors (the “Board”) and management team are pleased that ISS agrees our pending merger will promote continued growth and long-term shareholder value. ISS took the time to discuss the merger with us, evaluated its benefits and assessed any potential concerns through its independent review process. We appreciate that, after conducting its diligence, ISS recommended FOR our proposed merger.

    In its report, ISS concluded1 that: “[Amplify] appears to have run a reasonable process and the proposed transaction, which was the best option available following discussions with multiple parties, appears to be better than a standalone scenario given increased scale, projected free cash flow accretion, synergy opportunities, and the increased optionality for portfolio optimization.”

    We believe this transaction represents a compelling opportunity to enhance long-term shareholder value by significantly strengthening Amplify’s financial position, diversifying its asset base, and creating operational efficiencies. We anticipate the proposed merger will:

    • Drive free cash flow and value accretion:
      • 2025 free cash flow per share projected to increase from $0.50 per share to greater than $0.70 per share2
      • Total proved reserve value projected to increase ~89%, from $688 million to $1.3 billion3
    • Increase portfolio flexibility:
      • New Rockies asset base allows Amplify the opportunity to accelerate value creation through portfolio optimization
      • Lower operating cost to improve resiliency of asset base in low or high commodity price environment
    • Enhance organic growth potential:
      • Juniper assets include multi-year inventory of identified, high quality undeveloped drilling locations
      • Proved undeveloped drilling locations adjacent to premier public company operators
    • Unlock meaningful operating synergies:
      • Pro-forma Adjusted EBITDA per BOE expected to increase 40% due to higher oil weighting and lower cost structure4
      • Pro-forma G&A per BOE expected to decrease >20% due to economies of scale5
    • Preserve shareholder value:
      • Increased free cash flow and scale, along with expected refinancing, projected to increase liquidity and flexibility
      • Free cash flow provides optionality to reduce leverage and return capital to shareholders

    The Board continues to recommend that shareholders vote “FOR” the two proposals regarding the merger. The Special Meeting of Shareholders to approve the proposals is scheduled to take place virtually on April 14, 2025, at 9:00 a.m. Central Time. The methods for voting and submitting proxies are described in the distributed proxy materials for the Special Meeting.

    About Amplify Energy
    Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, exploitation and production of oil and natural gas properties. Amplify’s operations are focused in Oklahoma, the Rockies (Bairoil), federal waters offshore Southern California (Beta), East Texas / North Louisiana, and the Eagle Ford (Non-op). For more information, visit www.amplifyenergy.com.

    Forward-Looking Statements
    This press release includes “forward-looking statements.” All statements, other than statements of historical fact, included in this press release that addresses activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the Company’s expectations of plans, goals, strategies (including measures to implement strategies), objectives and anticipated results with respect thereto. These statements address activities, events or developments that we expect or anticipate will or may occur in the future, including things such as projections of results of operations, plans for growth, goals, future capital expenditures, competitive strengths, references to future intentions and other such references. These forward-looking statements involve risks and uncertainties and other factors that could cause the Company’s actual results or financial condition to differ materially from those expressed or implied by forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expectations of plans, strategies, objectives and growth and anticipated financial and operational performance of the Company and its affiliates. Please read the Company’s filings with the Securities and Exchange Commission (the “SEC”), including “Risk Factors” in the Company’s Annual Report on Form 10-K, and if applicable, the Company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which are available on the Company’s Investor Relations website at https://www.amplifyenergy.com/investor-relations/default.aspx or on the SEC’s website at http://www.sec.gov, for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements in this press release are qualified in their entirety by these cautionary statements. Except as required by law, the Company undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

    Cautionary Note on Reserves and Resource Estimates
    The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves. Any reserve estimates provided in this press release that are not specifically designated as being estimates of proved reserves may include estimated reserves or locations not necessarily calculated in accordance with, or contemplated by, the SEC’s latest reserve reporting guidelines. You are urged to consider closely the oil and gas disclosures in the Company’s Annual Report on Form 10-K and our other reports and filings with the SEC.

    Important Additional Information Regarding the Mergers Will Be Filed With the SEC.
    In connection with the proposed mergers, the Company has filed a definitive proxy statement. The definitive proxy statement has been sent to the stockholders of record of the Company. The Company may also file other documents with the SEC regarding the mergers. INVESTORS AND SECURITY HOLDERS OF AMPLIFY ARE ADVISED TO CAREFULLY READ THE DEFINITIVE PROXY STATEMENT AND ANY OTHER RELEVANT MATERIALS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGERS, THE PARTIES TO THE MERGERS AND THE RISKS ASSOCIATED WITH THE MERGERS. Investors and security holders may obtain a free copy of the definitive proxy statement and other relevant documents filed by Amplify with the SEC from the SEC’s website at www.sec.gov. Security holders and other interested parties will also be able to obtain, without charge, a copy of the definitive proxy statement and other relevant documents (when available) by (1) directing your written request to: 500 Dallas Street, Suite 1700, Houston, Texas or (2) contacting our Investor Relations department by telephone at (832) 219-9044 or (832) 219-9051. Copies of the documents filed by the Company with the SEC will be available free of charge on the Company’s website at http://www.amplifyenergy.com.

    Participants in the Solicitation.
    Amplify and certain of its respective directors, executive officers and employees may be considered participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the stockholders of Amplify in connection with the transaction, including a description of their respective direct or indirect interests, by security holdings or otherwise, is included in the definitive proxy statement filed with the SEC. Additional information regarding the Company’s directors and executive officers is also included in Amplify’s Notice of Annual Meeting of Stockholders and 2024 Proxy Statement, which was filed with the SEC on April 5, 2024. These documents are available free of charge as described above.

    Footnotes

    1) Permission to use quotation neither sought nor obtained
    2) Based on Amplify March 5, 2025, guidance and full year 2025 Juniper forecast at flat pricing; (NYMEX WTI, HH) – $71.00, $3.75. Free cash flow is a non-GAAP measure. Amplify believes that a quantitative reconciliation of such forward-looking information to the most comparable financial measure calculated and presented in accordance with GAAP cannot be made available without unreasonable efforts. A reconciliation of this non-GAAP financial measure would require Amplify to predict the timing and likelihood of future transactions and other items that are difficult to accurately predict. This forward-looking measure, or its probable significance, can be quantified with a reasonable degree of accuracy. Accordingly, a reconciliation of the most directly comparable forward-looking GAAP measures is not provided.
    3) 2024 Year End reserves are evaluated at flat pricing: (NYMEX WTI, HH) – $70.00, $3.50
    4) Based on Amplify 3Q24 reported results, 3Q24 Juniper unaudited results adjusted for G&A synergies (pro-forma G&A excluding synergies equal to $3.38/Boe)
    5) Based on Amplify G&A per BOE in 3Q24, assuming $1 MM of incremental G&A post-merger and Juniper production in 3Q24
       

    Contacts

    Amplify Energy

    Jim Frew — Senior Vice President and Chief Financial Officer
    (832) 219-9044
    jim.frew@amplifyenergy.com

    Michael Jordan — Director, Finance and Treasurer
    (832) 219-9051
    michael.jordan@amplifyenergy.com  

    FTI Consulting

    Tanner Kaufman / Brandon Elliott / Rose Zu
    amplifyenergy@fticonsulting.com

    The MIL Network –

  • MIL-OSI Asia-Pac: Fisheries Practices in the Bay of Bengal

    Source: Government of India

    Posted On: 01 APR 2025 3:31PM by PIB Delhi

    The Department of Fisheries (DoF), Government of India (GoI) has taken several initiatives to ensure sustainable fisheries practices in India’s EEZ including in the Bay of Bengal region.  This includes the implementation of a uniform fishing ban for a period of 61 days, from 15th April to 14th June on the East Coast and from 1st June to 31st July on the West Coast in the Indian Exclusive Economic Zone (EEZ) to protect the breeding stock. Similar fishing bans are implemented within the territorial waters by Coastal States/Union Territories including in the Bay of Bengal region. During the fishing ban period, financial assistance is provided by the Government towards livelihood and nutritional support for socio-economically backward, active traditional fishers.  

    The DoF, GoI has notified the ‘National Policy on Marine Fisheries (NPMF), 2017’ towards responsible and sustainable fishing across the country including the Bay of Bengal region.   The DoF, GoI has also issued orders to prohibit destructive fishing practices like bull or pair trawling and the use of artificial lights/LED lights for fishing in the Exclusive Economic Zone (EEZ), and similar prohibitions are also imposed within territorial waters by the coastal States/UTs. Further, necessary provisions are made by the State Government in their respective Marine Fishing Regulation Acts Rules (Amendments) for the installation of Turtle Excluder Devices (TED) for the protection of sea turtles.  Besides, the flagship scheme Pradhan Mantri Matsya Sampada Yojana (PMMSY) implemented by the Department inter alia envisages support towards the installation of artificial reefs along the coast, sea ranching, and mariculture including seaweed cultivation, all of which add to the sustainability. In addition, India as a member of the Bay of Bengal Programme (BOBP)-IGO has been actively taking various initiatives in cooperation with other member countries for sustainable fisheries practices like the adoption of the National Plan of Action for Sharks, Ecosystem Approach to Fisheries Management (EAFM) and Bay of Bengal Large Marine Ecosystem (BOBLME) Project.

    The NPMF, 2017 inter alia emphasizes that Information Technology (IT) and Space Technology (ST) will be put to optimum use for harnessing the benefits in support of the fisher community and also recommends the use of space technologies for real-time Potential Fishing Zone (PFZ) advisories; and weather forecasts for the benefit of fishers. The Indian National Centre for Ocean Information Services (INCOIS), Ministry of Earth Sciences (MoES), Hyderabad has reported that Oceansat Satellite data from Indian Space Research Organization (ISRO) are used to prepare the Potential Fishing Zone (PFZ) advisories indicating the potential fishing areas and provided to the fishermen in all States/UTs.  Besides, the PMMSY inter alia envisages support towards the installation of transponders in fishing vessels, providing safety kits to traditional fishermen and motorized fishing vessels, support for Potential Fishing Zone (PFZ) devices & network including the cost of installation, construction of deep sea fishing vessels aiming at exploring untapped resources and upgradation of fishing vessels for export competency. Under the PMMSY emphasis is also given to technology-driven more crop-per-drop initiatives in aquaculture like fish culture through Re-Circulatory Aquaculture Systems (RAS), biofloc aquaculture systems, cage culture in reservoirs, open sea cage culture, seaweed cultivation, bivalve cultivation including pearl farming and ornamental fisheries.

    Currently there are no such projects proposed to be implemented to improve livestock health and breeding practices in member countries. However, as per the Department of Animal Husbandry and Dairying, Government of India, germplasm from indigenous breeds, Murrah buffalo and Sahiwal cattle has been shared with member countries mainly Bangladesh and Sri Lanka in the form of semen doses, embryos, and live animals.       

    This information was given by Union Minister of State, Ministry of Fisheries, Animal Husbandry and Dairying, Shri George Kurian, in a written reply in Lok Sabha on 1st April, 2025.

    *****

    AA

    (Release ID: 2117252) Visitor Counter : 96

    Read this release in: Hindi

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: STEPS TO CHECK DRUG TRAFFICKING

    Source: Government of India

    Posted On: 01 APR 2025 3:48PM by PIB Delhi

    The cases registered, arrests made and quantity of drug seized under Narcotic Drugs & Psychotropic Substances (NDPS) Act, 1985 by various Drug Law Enforcement Agencies (DLEAs) as reported to Narcotics Control Bureau (NCB) during 2020 to 2024 is at Annexure-I. The specific details of incidents regarding number of killings, anti-social atrocities on women and children under the influence of various types of narcotics and chemical drugs in the country are not maintained.       

    As part of its drive against drug smuggling to make India a drug free nation, Government is taking various measures, some of which are mentioned below: –

    (i)      The Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985, as amended from time to time contains stringent provision to deal with illicit trafficking of narcotic drugs, psychotropic substances and controlled substances as defined under Section 2 (viiib). Further, Chapter IV of the NDPS Act, 1985 provides detailed provisions for offences committed in contravention of the relevant provisions of the Act and penalties thereto.

    (ii)     Considering the international obligations or having regard to the available information and evidence with respect to the nature and effects of and the abuse or scope for abuse, Department of Revenue has scheduled 134 narcotic drugs under section 2(xi)(b), 173 psychotropic substances under section 3 and 45 controlled substances under section 9A in order to  exercise  due  regulation,  control  or  prohibition  in  public interest while ensuring availability of narcotic drugs and psychotropic substances for medical and scientific use subject to the relevant provisions to the NDPS Act and rules/ regulations made thereunder.

    (iii)    A 4-tier Narco-Coordination Centre (NCORD) mechanism for ensuring better coordination between Central & State Drug Law Enforcement Agencies and other stakeholders in the field of controlling drug trafficking and drug abuse in India has been established. An all in one NCORD portal has been developed for information related to drug law enforcement.

    (iv)    A dedicated Anti-Narcotics Task Force (ANTF) headed by Additional Director General/ Inspector General level Police Officer has been established in each State/ Union Territory to function as the NCORD Secretariat for the State/ Union Territory and follow-up on compliance of decisions taken in NCORD meetings at different levels.

    (v)     To monitor the investigation of important and significant seizures, a Joint Coordination Committee (JCC) under the Chairmanship of Director General, Narcotics Control Bureau (NCB) has been set up by Government of India.

    (vi)    Border Guarding Forces (Border Security Force, Assam Rifles and Sashastra Seema Bal) have been empowered under the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985 to carry out search, seizure and arrest for illicit trafficking of narcotic drugs at international border. Further, Railway Protection Force (RPF) has also been empowered under NDPS Act to check drug trafficking along the railway routes.

    (vii)   Narcotics  Control Bureau (NCB)  coordinates   with   other  agencies  like, Navy, Coast Guard, Border Security Force, State ANTF, etc., to conduct joint operations to control the drug trafficking.

    (viii)  Electronics scanning of consignments for drug detection at all Ports are being ensured.

    (ix)    Towards the capacity building of Drug Law Enforcement Agencies of the country, NCB is continuously imparting training to the officers of other Drug Law Enforcement Agencies.

    (x)     To strengthen NCB and to increase its pan India presence, 536 posts in  different  level  has  been  created  in  NCB.  During  this  restructuring, special focus has been laid on cyber, legal, and enforcement aspects for more effective drug law enforcement.

    (xi)    A task force on Darknet and Crypto-Currency has been set up under the Multi Agency Centre (MAC) mechanism with a focus on monitoring all platforms facilitating Narco-trafficking, sharing of inputs on drug trafficking amongst Agencies/MAC members, interception of drug networks, continuous capturing of trends, modus operandi & nodes with regular database updates and review of related rules & laws.

    (xii)   To assist all DLEAs/other investigation agencies for investigation and proactive policing, National Integrated Database on Arrested Narco-Offenders (NIDAAN) portal is developed. It provides data of narcotics offenders involved in narcotics offences under Narcotic Drugs & Psychotropic Substances (NDPS) Act, 1985.

    (xiii)  A National Narcotics Helpline No. 1933 “Madak-Padarth Nished Asoochna Kendra” (MANAS) has been created as 24×7 toll-free National Narcotics Call Centre helpline. Accordingly, MANAS has been envisioned as  an  integrated  system  providing  a  single  platform for citizens to log, register, track and resolve drug related issues/problems through various modes of communication like call, SMS, Chat-bot, e-mail & web-link.

    (xiv)  A high-level dedicated group has been created in National Security Council Secretariat (NSCS) in November 2022 to analyze the drug trafficking through maritime routes, challenges and solutions (Maritime Security Group – NSCS).

    (xv)   Director General level talks by NCB are organized with neighboring and other countries such as Myanmar, Iran, Bangladesh, Indonesia, Singapore, Afghanistan, Sri Lanka, etc. to resolve various issues on drugs trafficking having international implications and issue of maritime trafficking.

    (xvi)  Launched Nasha Mukt Bharat Abhiyaan (NMBA) in all districts of the country through more than 10000 master volunteers. It has reached out to more than 14.79 crore people including 4.96 crore youth and 2.97 crore women.

    (xvii) Government is providing financial assistance to 350 Integrated     Rehabilitation  Centers for Addicts   (IRCAs),  46  Community  based  Peer Led Intervention (CPLI) Centers, 74 Outreach and Drop In Centers (ODICs), 142 Addiction Treatment Facilities (ATFs), 124 District De-addiction Centres (DDACs) across the country.

    (xviii)    A Toll-free Helpline No.14446 for de-addiction is operated for providing primary counseling and immediate assistance to persons seeking help.

    (xix)  Government through its autonomous body National Institute of Social Defense (NISD) and other collaborating agencies like State Counsel of Educational Research and Training (SCERT), Kendriya Vidyalaya Sangathan (KVS), etc. provides for regular   awareness generation and sensitization sessions for all stakeholders including students, teachers, parents.

    (xx)   Navchetna Modules, Teachers Training Modules have been developed by Ministry of Social Justice & Empowerment (MoSJE) for sensitizing students (6th – 11th standard), teachers and parents on drug dependence, related coping strategies and life skills.

    *****

    Annexure-I

     

    Year

    Case

    Arrest

    Quantity (in Kg)

    2020

    55,622

    73,841

    10,82,511

    2021

    68,144

    93,538

    16,09,612

    2022

    1,02,769

    1,26,516

    12,53,662

    2023

    1,09,546

    1,32,954

    13,89,725

    2024

    89,913

    1,16,098

    13,30,600

    Cases registered, arrests made and quantity of drug seized under Narcotic Drugs & Psychotropic Substances (NDPS) Act, 1985 by various Drug Law Enforcement Agencies (DLEAs) as reported to Narcotics Control Bureau (NCB) during 2020 to 2024

    Source: Narcotics Control Bureau

    This was stated by the Minister of State in the Ministry of Home Affairs Shri Nityanand Rai in a written reply to a question in the Lok Sabha.

    ***

    RK/VV/ASH/RR/PR/PS

    (Release ID: 2117266) Visitor Counter : 62

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: INFRASTRUCTURE DEVELOPMENT IN SHIPBUILDING CLUSTERS

    Source: Government of India

    Posted On: 01 APR 2025 3:28PM by PIB Delhi

    The various steps taken to upgrade and modernise the shipbuilding sectors across India and the shipbuilding are as under:

    (i). Ministry has amended the Shipbuilding Financial Assistance Policy(SBFAP) guidelines on 29.01.2025 to encourage more participation in the shipbuilding activities.

    (ii). The Government, in November, 2021, has released Standard Tug Designs of five variants for use by Major Ports for procurement of tugs to be built in Indian Shipyards.

    (iii). To promote indigenous shipbuilding, the Ministry of Ports, Shipping and Waterways on 20.09.2023 has revised the hierarchy of Right of First Refusal (RoFR) to be followed in any kind of charter of a vessel which is undertaken through a tender process. The revised hierarchy of RoFR is:

    (1) Indian built, Indian flagged and Indian owned

    (2) Indian built, Indian flagged and Indian IFSCA owned

    (3) Foreign built, Indian flagged and Indian owned

    (4) Foreign built, Indian flagged and Indian IFSCA owned

    (5) Indian built, foreign flagged and foreign owned

     

    (iv) Ministry of Ports, Shipping & Waterways has launched the Green Tug Transition Programme (GTTP) which aims to reduce carbon emissions and minimize environmental impact by encouraging adoption of environmentally sustainable tugboat operations.

    (v) Government has launched the Harit Nauka guidelines for inland vessels which aim to promote the adoption of greener technologies in inland waterway vessels.

    (vi). Government of India vide Gazette Notification No. 112 dated April 13, 2016 has included ‘Shipyards’ in the updated Harmonized Master List of Infrastructure Sub-sectors.

    (vii). In order to promote indigenous shipbuilding, Government has issued guidelines on 19.05.2016 for evaluating and awarding tenders for new shipbuilding orders floated by government departments or agencies including public sector undertakings for acquisition of any type of vessel(s) used by them for Governmental purposes or for their own use. Whenever acquisition of a vessel(s) is undertaken through tendering route, the qualified Indian Shipyards will have a “Right of First Refusal” to enable them to match the evaluated lowest price offered by the foreign shipyard which is aimed at increasing ship building activities in Indian shipyards.

    Further, the Government entities dealing with ship building and ship-owning are advised to ensure local content as per the Government of India Public Procurement (Preference to Make in India) Order, 2017. As per this Order, procurement of ships of less than ₹200 crores is required to be from Indian shipyards.

    (viii) Government of India, in the budget speech, 2025, has made following announcements:

    • The Shipbuilding Financial Assistance Policy will be revamped to address cost disadvantages. This will also include Credit Notes for shipbreaking in Indian yards to promote the circular economy.

    · Large ships above a specified size will be included in the infrastructure harmonized master list (HML).

    · Shipbuilding Clusters will be facilitated to increase the range, categories and capacity of ships. This will include additional infrastructure facilities, skilling and technology to develop the entire ecosystem.

    · For long-term financing for the maritime industry, a Maritime Development Fund with a corpus of Rs. 25,000 crores will be set up. This will be for distributed support and promoting competition. This will have up to 49 per cent contribution by the Government, and the balance will be mobilized from ports and private sector.

    · To continue the exemption of Basic Customs Duty (BCD) on raw materials, components, consumables or parts for the manufacture of ships for another ten years.

    Cochin Shipyard Limited, a PSU under the administrative control of MoPSW, has signed important active Memorandums of Understanding (MoUs) with international parties and the details of which are as given below:

    Fincantieri, Italy: On October 27, 2020, CSL signed an MoU with Fincantieri, Italy, to collaborate on design, shipbuilding, ship repair, and marine equipment manufacturing, as well as training and skill development.

    IHC Holland BV: On November 26, 2020, CSL signed an MoU with Dredging Corporation of India (DCI) and IHC Holland BV to facilitate the construction of IHC-designed Trailing

    Suction Hopper Dredgers (TSHDs) for DCI in India.

    Robert Allan Limited, Canada: CSL entered into an MoU with Robert Allan Limited, Canada, on February 26, 2021, for design and consultancy services related to tugs, inland vessels, harbor crafts, and specialized vessels.

    Seatrium LeTourneau: CSL signed an MoU with Seatrium LeTourneau, a division of Seatrium Offshore Technology (SOT), on November 20, 2024 for the development and execution of Jack-Up Rig projects in India under the ‘Make in India’.

    Shipbuilding financial assistance policy with a financial outlay of 4000 crore was amended in August 2023, to include flat 30% Financial Assistance for vessels where main propulsion is achieved by means of green fuels such as Methanol/ Ammonia / Hydrogen fuel cells etc. This amendment also included ‘flat 20% Financial Assistance for vessels fitted with fully electric or hybrid propulsion. Under this scheme, 78.23 crore has been disbursed towards construction and delivery of hybrid vessels, till date.

    This information was given by the Union Minister of Ports, Shipping and Waterways, Shri Sarbananda Sonowal in a written reply to the Rajya Sabha.

    *****

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: GLACIAL LAKE OUTBURST FLOOD MITIGATION

    Source: Government of India

    Posted On: 01 APR 2025 3:51PM by PIB Delhi

    Strengthening of Early Warning Systems is prerequisite for preparedness measures and is the most important element of entire cycle of disaster management. 

    The Prime Minister has enunciated ten-point agenda on Disaster Risk Reduction (DRR) during the Asian Ministerial Conference on Disaster Risk Reduction (AMCDRR) held in New Delhi in November 2016. The all-inclusive agenda includes the following: –

    “Leverage technology to enhance the efficiency of disaster risk management efforts.” and “Build on local capacity and initiative to enhance disaster risk reduction”.

    The Government effectively deploys technologies for improved early warning and forecasting of disaster in the vulnerable areas. Central Government has designated nodal agencies for early warning of different natural disasters.

    To promote the use of modern technologies and to strengthen the early warning  system  for  natural  disasters,  Ministry  of  Earth  Sciences  has

    launched a Multi-faceted transformative approach namely “Mission Mausam” for the period 2024-2026 with the goal of making India a “weather-ready and climate smart” nation.

    Under the National Cyclone Risk Mitigation Project (NCRMP) Early Warning Systems have been installed in the Coastal States, which have proved to be of great help in alert dissemination to the coastal community during recent cyclones.

    ‘Common Alerting Protocol (CAP) based Integrated Alert System’ has been initiated with an outlay of Rs. 354.83 Crore, for dissemination of geo targeted early warnings/alerts related to disasters to the citizens of India for all 36 States/UTs using various disseminating medium like SMS, TV, Radio, Indian Railways, Costal Sirens, Cell broadcast, Internet (RSS feed & Browser Notification), Satellite Receiver of GAGAN & NavIC etc., through integration of all alerting agencies, [India Meteorological Department (IMD), Central Water Commission (CWC), Indian National Centre for Ocean Information Services (INCOIS), Defence Geo-informatics Research Establishment (DGRE), Geological Survey of India (GSI) and Forest Survey of India (FSI)]. 

    In CAP system, the alerts related to various disasters are generated by Alert Generating Agencies like IMD, CWC, INCOIS, DGRE & FSI and moderated by SDMAs of concern States/UTs.  The alerts are sent to geo targeted areas in regional languages. There is a web-based dashboard to disaster managers for approving/editing alerts and choosing media for dissemination. The system has been used successfully in recent disasters.  More than 4500 crore SMS alerts have been disseminated so far using CAP.

    National Disaster Management Authority (NDMA) has also initiated a project for Pan India, end-to-end secure and foolproof Disaster Grade Cell Broadcasting System (CBS) to improve faster dissemination of alert / early warning messages to the citizen.

    Defence Geoinformatics Research Establishment (DGRE), Chandigarh under Defence Research and Development Organisation (DRDO) is also the nodal agency for studying and developing avalanche mitigation technologies.  DGRE has installed 72 Snow Meteorological Observatories and 45 Automated Weather Stations (AWS).  

    India Metrological Department (IMD) issues regular and precise weather forecasts & warning bulletins including for cyclones to all the affected/ likely affected States/ UTs.

    IMD uses a suite of quality observations from Satellites, Radars and Conventional & Automatic Weather Stations for monitoring of cyclones developing over the Bay of Bengal and Arabian Sea. It includes INSAT 3D, 3DR and SCATSAT satellites, Doppler Weather Radars (DWRs) along the coast and coastal Automated Weather Stations (AWS), High wind speed recorders, Automatic Rain Gauges (ARGs), Meteorological buoys and ships.

    NDMA also conducts capacity building programmes, organizes awareness workshops and fosters community-based risk reduction strategies and also trainings for monitoring and alert mechanism to ensure last mile connectivity. 

    Wadia Institute of Himalayan Geology (WIHG) monitors the glaciers and provides comprehensive analysis of factors that trigger hazards and its associated downstream risks to significantly enhance early warning capabilities and disaster preparedness.   WIHG has prepared glacial lake

    inventories for Uttarakhand (2015) and Himachal Pradesh (2018), identifying 1,266 lakes (7.6 km²) in Uttarakhand and 958 lakes (9.6 km²) in Himachal Pradesh.

    Central Water Commission (CWC) monitors 902 Glacial lakes and water bodies, to enable the detection of relative change in water spread areas of Glacial lakes and water bodies as well as identifying those ones which have expanded substantially during its monitoring months.

    Central Government has approved National Glacial Lake Outburst Flood (GLOF) Risk Mitigation Project (NGRMP) for its implementation in four states namely, Arunachal Pradesh, Himachal Pradesh, Sikkim and Uttarakhand at a financial outlay of Rs. 150.00 crore.

    NGRMP is aimed at reducing the risks associated with glacial lake outburst floods, particularly in regions that are highly susceptible to such natural disasters.  The objectives of NGRMP project are:

    (i)      Prevent loss of life and reduce economic loss and damage to critical infrastructure due to GLOF and similar events.

    (ii)     Strengthen the early warning and monitoring capacities based on last mile connectivity.

    (iii)    Strengthen scientific and technical capabilities in GLOF risk reduction and mitigation at local levels through strengthening of local level institutions and communities.

    (iv)    Use of indigenous knowledge and scientific cutting-edge mitigation measures to reduce and mitigate GLOF risk.

    NGRMP, approved by the Government, has one of its components as GLOF monitoring and Early Warning Systems (EWS) including remote sensing data, community involvement for monitoring, alerting / dissemination.

    Two Automatic Weather Stations (AWS) have been installed in Sikkim with further deployments of EWS planned in collaboration with C-DAC, ISRO and Space Applications Centre, Ahmedabad to provide early warning to local communities in case of any GLOF event.

    CWC has finalized the criteria for Risk Indexing of Glacial Lakes offering a structured approach for identifying and ranking such lakes based on their likelihood of failure and potential damage they could cause in the event of GLOF.  

    A Committee on Disaster Risk Reduction (CoDRR) under NDMA involving representatives from six Himalayan States / Union Territories and other Stakeholders, has identified a set of high risk glacial lakes for sending expeditions to directly assess these lakes and prepare comprehensive mitigation strategies in terms of setting up EWS / other structural and non-structural measures.

    Subsequent to Teesta-III Hydroelectric dam collapse in October, 2023, CWC has decided to review the design flood of all the existing and under construction dams vulnerable to GLOFs to ensure their adequate spillway capacity for a combination of Probable Maximum Flood / Standard Probable Flood and GLOF. Further, GLOF Studies has been made mandatory for all new dams planned having Glacial Lakes in their catchments.

    This was stated by the Minister of State in the Ministry of Home Affairs Shri Nityanand Rai in a written reply to a question in the Lok Sabha.

    ***

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    MIL OSI Asia Pacific News –

  • MIL-OSI USA: State Seeks Bids For Modernizing Financial System

    Source: US State of Hawaii

    State Seeks Bids For Modernizing Financial System

    Posted on Mar 31, 2025 in Main

    FAMIS software on computer screen

    The State of Hawaiʻi Department of Accounting and General Services (DAGS) published a request for proposals (RFP) to support the Enterprise Financial System (EFS) Project on March 31, 2025. The RFP outlines the requirements for potential bidders to be selected as the software provider and system integrator to support the new EFS—a $68 million overhaul of the aging financial data system that drives the state’s economy.

    “This is the single most transformative modernization effort in Hawaiʻi,” said Gov. Josh Green, M.D. “Everyone in our state is impacted by this software – from employees who receive a check, to SNAP benefits and tax refunds, to our state vendors and departments with federal grants.”

    DAGS’ Director and Comptroller Keith Regan gave a sense of how wide-reaching the state’s accounting functions are. “When you consider the volume of transactions processed by the State’s accounting system, it is equivalent to the state’s gross domestic product (GDP) of $76.5 billion in 2023. More than 900,000 transactions are run through the system every year which puts into perspective the incredibly important task of ensuring we have a system that meets the organization’s and the public’s needs,” he pointed out.

    The Hawaii Financial Accounting and Management Information System (FAMIS), the State’s current financial system, has relied on largely unchanged accounting processes codified by the Legislature since the 1920s. At 55 years old, FAMIS is considered antiquated, costly to maintain, and inefficient, putting State operations at high risk in the event of a major system failure. A modernized system will greatly enhance the efficiency of infrastructure critical to state operations, saving taxpayer dollars and enabling public servants to better serve constituents.

    Efforts to implement the EFS Project were previously initiated in 2020 and 2015, and are now moving forward with renewed focus and commitment. “We’ve learned many lessons from our previous efforts. Accounting and fiscal operations are now taking lead roles in the management of this project. We are reengineering the way we operate, which requires a significant investment of time and effort on the people-side of our organization. Change of this magnitude is not easy, but involving those who will ultimately have to live and breathe this new system will be critical to the success of this project. We are grateful for the support of Governor Green and the legislature as we move forward with this significant modernization effort,” said Regan.

    Once the solicitation process concludes and a system integrator is selected, the project team will work in tandem with the newly selected vendor on the next phases of implementing the new financial system.

    More on this project at https://ags.hawaii.gov/efs/.

    MIL OSI USA News –

  • MIL-OSI Russia: An exhibition about students who are ambassadors of Moscow colleges has opened in the center of Moscow

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    The photo exhibition “Professionals Around Us” has opened on Chistoprudny Boulevard and in Yekaterininsky Park. The exhibition features 19 inspiring stories of students from Moscow colleges who found their calling thanks to secondary vocational education. You can visit the exhibition until April 30.

    “The heroes of the project include a rescuer, a builder, a teacher, and a programmer. Each of them shared their success story and talked about the opportunities that open up for college graduates. We invite everyone to meet young professionals in Moscow,” the press service of the capital’s

    Department of Education and Science.

    Polina Durova, a final-year student at the Moscow Educational Complex “West”, is a pastry chef. She started working while still a student in a prestigious restaurant. In 2023, she won the “Young Professionals” championship in the “Pastry” category. Polina masterfully creates sculptures from caramel and chocolate, and regularly improves her skills in international pastry and cooking master classes. The girl said that she began her path in the pastry business in early childhood, when she watched cooking shows with her parents. Even then, she realized that creating desserts is a real art. Polina entered college because she decided to devote herself to her favorite hobby. According to her, she became a professional there – thanks to experienced mentors and constant practice. In college, Polina began to participate and win professional skills competitions, and the doors to the world of haute cuisine opened for her. The girl began to collaborate with the best restaurants in the city. She is currently studying in college and works as a pastry chef at a private production facility, where she creates desserts for true connoisseurs.

    Another hero of the exhibition, a final-year student of the Technical Fire and Rescue College named after Hero of the Russian Federation V.M. Maksimchuk, Philipp Smirnov, said that he decided on his future profession back in his school years, when he was in the cadet class. Once he helped a drowning man and realized that he would be a rescuer. Philipp is convinced that for this you need to be a professional, and the college promotes this. Now the young man already has the status of a rescuer, he works as a sailor-rescuer and industrial climber.

    Muscovites will also learn the story of Yegor Burinsky, a second-year student at the P.A. Ovchinnikov Polytechnic College. He learned about his profession at a college festival in 2023. It was there that Yegor first heard about the “Machine and Equipment Adjuster in Mechanical Processing” program. He was interested in how modern CNC machines work, and he decided to master this specialty. Having chosen targeted training, Yegor signed an agreement with the United Engine Corporation “Salut”. This provided a unique opportunity to begin professional practice in his first year. After just a month of studying at the college, Yegor began working in a real production facility.

    At the exhibition, you can learn about the successes of Milena Galyamova, who studies correctional pedagogy in primary school. The girl organizes events for the wards of children’s hospices of the CSKA and Vozmozhnost foundations. In addition, among the heroes is Alina Taekina, who is studying to be a graphic designer. Last year, she collaborated with one of the publishing houses and became a prize winner of the Moscow Masters and Young Professionals championships.

    Earlier, a large-scale college forum was held in the capital. It was attended by 60 thousand people. The event brought together 48 colleges that presented more than 140 in-demand specialties in 10 sectors of the Moscow economy. More than 120 master classes were organized for schoolchildren. Famous TV presenters, coaches, scientists and athletes shared their experience with the guests.

    You can learn more about the in-demand professions and specialties taught in the capital’s colleges in the section“Colleges” on the portal“School.Moscow”, in the telegram channel“Colleges of Moscow” and in the community on the social network VKontakte.

    Practical classes for students of Moscow colleges are held in modern workshops and laboratories. This contributes to the formation and development of professional skills in students and corresponds to the objectives of the national project “Youth and Children”.

    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.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/152030073/

    MIL OSI Russia News –

  • MIL-OSI Russia: Sports complex and medical center to appear as part of business center in South-West Administrative Okrug

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    A 23-storey business centre with an area of 44.7 thousand square metres will be built on the territory of the former Vorontsovo industrial zone. The facility will appear as part of the implementation of a large-scale investment project (MaIP). This was reported by the Deputy Mayor of Moscow for Urban Development Policy and Construction Vladimir Efimov.

    “A multifunctional complex with public and office spaces will appear on Akademika Semenikhina Street near the Kaluzhskaya and Vorontsovskaya metro stations. Public spaces with commercial infrastructure with a total area of 19 thousand square meters will occupy the first five floors, with office premises located above. Construction is planned to be completed in 2026. The implementation of this large-scale investment project will create about 1.5 thousand jobs for residents of nearby areas,” said Vladimir Efimov.

    MaIP is a special status that can be granted to objects that are significant for the city and aimed at increasing the number of jobs, developing the capital’s infrastructure, and increasing investment in the Moscow economy. Preference is given to multifunctional centers, modern production facilities, high technologies, social and sports infrastructure.

    “To implement this large-scale investment project, the city allocated the company a land plot in the Obruchevsky district with an area of about 0.6 hectares. In addition to offices and infrastructure facilities, the business center is planned to accommodate an underground parking lot for 178 cars, including charging devices for electric cars,” said the Minister of the Moscow Government, head of the capital’s Department of City Property

    Maxim Gaman.

    Mosgosstroynadzor has already issued a permit for the construction of the facility. Minister of the Moscow Government, Head of the Department of Urban Development Policy Vladislav Ovchinsky clarified that the 23-story building will house 123 office spaces. Their area will range from 42 to 1,400 square meters. They will be located from the sixth to the 23rd floor. The first five will house a shopping gallery, a cafe, a supermarket, a food hall, a co-working space, a medical center, and a sports complex. Both business center employees and residents of nearby houses will be able to visit them.

    The atrium of the shopping gallery on the first floor of the building will be decorated with art objects. An area of 0.75 hectares will be landscaped next to the business center. The developer will carry out comprehensive landscaping and lay pedestrian routes. There will be a birch alley and front gardens with cozy recreation areas and benches.

    The business center will be built as part of a program for the construction of commercial and residential real estate as part of transport hub projects near metro stations and the Moscow Central Diameters.

    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.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

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  • MIL-OSI United Nations: Global Assessment Report (GAR) 2025

    Source: UNISDR Disaster Risk Reduction

    Disasters, pandemics, and other shocks are becoming more frequent, more intense, and more unpredictable. At the same time, the costs of responding and rebuilding are rising faster than many countries can manage. To avoid falling deeper into debt and disruption, we need a new kind of financial system, one that is ready before the crisis starts, and flexible enough to support recovery after.

    This section explores how governments, businesses, and financial institutions can work together to build that system. It looks at how public and private money can be combined to fund resilience, how better data and regulation can reduce risk, and how financial tools, from insurance to social protection, can help people and economies bounce back stronger.

    Each part offers practical ways to shift from a system that reacts to disasters, to one that plans, protects, and invests in long-term resilience.

    5.1 Scaling Up Blended Finance

    Most countries do not have enough public money to meet their growing disaster and climate risks. But private investors are often hesitant to put money into high-risk areas. Blended finance helps solve this problem by using public or development funding to reduce risk and attract private capital.

    Platforms like GAIA (Global Action on Investment for Adaptation <<https://www.greenclimate.fund/project/fp223>>) aim to make this easier. [add link] GAIA works to bring governments, private investors, and communities together to support projects that reduce disaster risk, protect ecosystems, and build long-term resilience. These platforms make it easier to fund solutions in places that need them most, but that investors might otherwise avoid.

    Blended finance is not just about funding projects. It is about changing how and where money flows, so that resilience becomes part of every investment decision.

    5.2 Corporate Climate Risk Disclosures

    Businesses face growing risks from climate change and disasters, but many still do not fully understand or report them. This creates blind spots for investors, insurers, and regulators. One important step is to make climate risk disclosure part of standard business reporting.

    Mandatory reporting systems, like those being adopted in the European Union and other regions, help companies identify their exposure to climate risks. This includes physical risks, like floods or heatwaves, and financial risks, such as supply chain disruptions or energy price shocks.

    When risks are made visible, businesses are more likely to act early. Investors can make better decisions, and regulators can help reduce systemic financial risks across the economy.

    5.3 Expanding Regional Insurance Mechanisms

    For many small or vulnerable countries, the cost of disasters is too big to manage alone. Regional insurance pools allow countries to share the risk and access quick funding after a shock. These systems are especially useful for small island states and low-income countries with limited financial reserves.

    Two leading examples are: [links to those initiatives in the web]

    These mechanisms help countries access payouts quickly after hurricanes, earthquakes, or floods. This reduces pressure on public budgets and speeds up recovery. Countries pay into the pool, and when disaster strikes, they get fast, rules-based support. Check how regional insurance helped Dominica recover more quickly from one of the strongest storms ever recorded in the Caribbean.

    Case study: [CCRIF payout after Hurricane Maria in Dominica]

    5.4. Unlocking Green Resilience Bonds

    Green bonds are already used to fund projects that reduce emissions or support clean energy. But they can also support disaster resilience. When these bonds include components like flood protection, climate-smart agriculture, or heat-resilient infrastructure, they become powerful tools for long-term risk reduction.

    Some governments and financial institutions are now designing green resilience bonds that combine climate and disaster goals. These bonds allow investors to support both environmental and social outcomes.

    For example, Costa Rica issued green bonds with a focus on nature-based solutions and climate adaptation. These projects aim to both cut emissions and reduce the impacts of floods and droughts.

    Case study: [Costa Rica’s green bond program]

    5.5. Adaptive Social Protection for Disaster Recovery

    Social protection systems, like cash transfers, food assistance, or public works programs, can be powerful tools for resilience, especially when they are flexible. When designed to scale up during shocks, they can protect people from falling into poverty after a disaster.

    This is called adaptive social protection. It links disaster early warning systems with financial systems that can respond quickly to changing needs. For example, a drought warning might trigger extra cash support for farmers before their crops fail.

    Like in the Philippines, a national social protection program was adapted to respond to typhoon impacts. It helped deliver assistance more quickly and reach the most vulnerable communities during emergencies.

    Case study: [Philippines’ shock-responsive social protection system]

    5.6. How Central Banks Can Support Resilience Finance

    Central banks play a key role in keeping economies stable. As climate risks grow, they can also help make financial systems more resilient. This means looking at how disasters affect inflation, lending, and investment flows, and adjusting policies to support preparedness.

    Central banks can include disaster and climate risks in their stress tests and financial supervision. They can also support green finance guidelines, invest in resilience bonds, or offer incentives for banks that support risk reduction projects.

    Bangladesh’s central bank created a special refinancing scheme to support solar energy, flood-resilient housing, and climate-smart farming. This shows how monetary policy can support resilience at the local level.

    Case study: [Bangladesh Bank’s green refinancing program]

    MIL OSI United Nations News –

  • MIL-OSI Economics: Piero Cipollone: Enhancing cross-border payments in Europe and beyond

    Source: European Central Bank

    Speech by Piero Cipollone, Member of the Executive Board of the ECB, at the Regional Governors’ Meeting

    Osijek, 1 April 2025

    As we gather here today in Osijek, we stand at a crossroads in the world of payments.

    Digitalisation is driving economic progress and transforming the way we make retail payments, yet there is growing frustration that the dramatic decline in IT and telecommunications costs has not been reflected in lower fees for cross-border payments in many parts of the world.

    This has proven to be an obstacle to economic integration, including in this part of Europe. For instance, a small business owner here in Croatia trying to make a €5,000 transfer to a supplier in a Western Balkan economy that is not part of the Single Euro Payments Area (SEPA) faces costs up to 12 times higher than when sending the same amount to a counterpart within SEPA.[1]

    Such disparities are a barrier to growth. Addressing them is a priority, not only to reduce costs but also to drive economic development and bring us closer together. This is why the expansion of SEPA is so important and a key milestone on the European integration path.

    Montenegro, Albania and North Macedonia recently joined SEPA.[2] This paves the way for the payment service providers in these countries to be operationally ready to offer SEPA transfers as of October[3], facilitating transfers in euro at a considerably reduced cost. We also very much support the efforts being made in the other Western Balkan economies towards joining SEPA.

    The pressing need to enhance cross-border payments is not just a regional concern, it is a matter of urgency worldwide. As international transaction volumes have surged, outstripping GDP growth, the economic toll of inefficient cross-border payments has continued to mount. Despite technological advancements and recent improvements, progress is heterogeneous across countries and cross-border payment transactions remain expensive and slow in many places.

    Moreover, the shifting geopolitical landscape has introduced a new dimension to this challenge. Rising geopolitical tensions have spurred initiatives to create alternatives to existing global infrastructure. This could lead to fragmentation of the global financial system into multiple, non-communicating blocs, which would further hamper the efficiency of cross-border payments and contribute to the refragmentation of trade and investment. In parallel, the emergence of stablecoins – which the United States intends to promote worldwide[4] – brings its own risks, including for currency substitution.

    The Eurosystem is responding proactively to these challenges in line with the G20 Roadmap for enhancing cross-border payments.[5] Our approach rests on two pillars: on the one hand, harnessing the potential of fast payment systems to enhance the efficiency of cross-border payments and deliver tangible improvements in speed and cost; on the other, continuing to respect the sovereignty and stability of our partners. This can be achieved by interlinking fast payment systems across countries. In other words, we are aiming to address inefficiencies and build lasting connections that are rooted in trade openness and balanced relationships with our partners – goals which have long been a hallmark of the European approach to economic integration.

    Today, I will focus on three points. First, I will examine the current state of cross-border payments. Second, I will discuss how geopolitical fragmentation is creating a further imperative to act. Lastly, I will present the Eurosystem’s strategic response to these challenges, which includes initiatives such as interlinking fast payment systems and exploring the possible use of a digital euro in third countries.

    The state of cross-border retail payments

    Over the past few decades, the world has witnessed a significant surge in cross-border payments, driven by the globalisation of trade, capital and migration flows. Cross-border payment flows are projected to double to €268 trillion by 2030.[6] But despite this significant expansion and the improvements that have resulted from international efforts, international payments too often remain prohibitively expensive and inefficient.[7]

    While domestic payments have undergone a digital revolution – becoming faster, cheaper and more accessible – cross-border transactions have yet to fully benefit from these technological advancements.[8] The average cost of international retail payments remains high: for nearly one-quarter of global payment corridors, costs exceed 3%. And in too many cases, cross-border payment is still slow: one-third of retail cross-border payments took more than one business day to be settled in 2024.[9]

    These inefficiencies raise three pressing issues that demand our attention.

    First, high costs and slow transaction times are undermining economic integration and growth. Small and medium-sized enterprises (SMEs), which form the backbone of many economies are disproportionately affected. For SMEs operating on tight margins, exorbitant fees are not just an inconvenience but a barrier that often discourages them from engaging in cross-border trade. According to research by the World Bank, in 2023 it cost SMEs about ten times more to transfer €5,000 between Western Balkan economies than between EU countries.[10]

    Second, the world’s most vulnerable groups – such as migrant workers sending remittances home – bear a disproportionate share of these costs. Remittances are a lifeline for millions of families worldwide, supporting one in nine people globally. Yet sending money home remains prohibitively expensive in many regions. The cost of remittances to the Western Balkan economies averaged 6.7% until recently[11], only slightly below the 7.7% paid in Sub-Saharan Africa[12]. The impact that reducing these fees will have on financial inclusion and well-being cannot be overstated. The World Bank has estimated that by meeting the global Sustainable Development Goal target of 3%, the Western Balkan economies would save approximately half a billion euros per year.[13]

    Third, the inefficiencies affecting cross-border payments have created a vacuum that alternative players, particularly in the crypto-asset space, are eager to fill. However, many of these solutions come with significant risks that cannot be overlooked. Unbacked crypto-assets, for instance, are highly volatile and speculative in nature, creating risks for unsuspecting households and businesses.

    Furthermore, the United States’ push to maintain the dollar’s global dominance through the promotion of stablecoins worldwide presents its own set of challenges. While stablecoins may be touted as the solution to a problem, they in fact create new problems that require a solution. Unless they are properly regulated according to the Financial Stability Board principles (as achieved in Europe through the Regulation on markets in crypto-assets[14]), they cannot guarantee convertibility at par value at all times and are susceptible to runs. They may thus destabilise the very system they are meant to improve. Also, because 99% of stablecoins are denominated in US dollar and their expansion could leverage the global customer base of big tech companies[15], they could considerably increase currency substitution risks, leading to “digital dollarisation”.[16] This would impair the effectiveness of domestic monetary policy and increase financial stability risks by amplifying capital outflows in response to negative shocks. This could have a destabilising effect on emerging markets and less developed economies, particularly small economies integrated in global value chains.[17]

    Geopolitical fragmentation

    That brings me to my second point: the fundamentally changed international order and its potential to fragment payment systems worldwide.

    Rising geopolitical tensions are reshaping the very foundations of cross-border payments and endangering the global rules-based system. This could challenge established correspondent banking networks and messaging systems such as Swift.

    At a time when we should be integrating payment systems to reduce their complexity and cost for users, separate platforms have sought to create alternatives to existing global infrastructures. This trend began as early as 2013 when Iran, in response to its exclusion from Swift, created its own messaging system. Russia followed suit in 2014 with the System for Transfer of Financial Messages after its annexation of Crimea. China’s Cross-Border Interbank Payment System, launched in 2015, has seen remarkable growth, with over 1,500 financial institutions using it in 2024, a number that has more than doubled since 2018.

    The pace of these initiatives has accelerated significantly since Russia’s invasion of Ukraine. In the past two years alone, we have seen nearly 20 new initiatives from countries in emerging markets aimed at bypassing Swift and western correspondent banks. At the BRICS Summit in October 2024, member countries agreed to explore the feasibility of establishing an independent cross-border settlement and depositary infrastructure, BRICS Clear.[18]

    These developments raise serious concerns about the potential fragmentation of the global financial system. We could face disrupted international capital flows and reduced efficiency as the system risks being splintered into multiple, non-communicating blocs.

    For the euro’s international role[19] to contribute to preserving a stable and integrated financial system, the euro needs to provide the benefits of a global public good.[20] We must ensure it can reliably connect various parts of the global payments system and deliver tangible benefits in terms of speed and cost, while respecting the integrity, sovereignty and stability of our partners.

    The Eurosystem’s strategy for efficient and open cross-border payments

    In this context, the European Central Bank (ECB), together with euro area national central banks, is promoting a strategy for the integration of global cross-border payments to address inefficiencies while maintaining openness. This strategy rests on two main initiatives.[21]

    Interlinking fast payment systems

    The first is the interlinking of fast payment systems. Over the past decade, central banks have made significant improvements to the backend infrastructure for facilitating payments, thereby fostering the digitalisation of domestic payment systems. As of today, over 100 jurisdictions worldwide have implemented their own fast payment systems.[22] There is already evidence that the global network of fast payment systems tends to be segmented along geopolitical lines[23], but interlinking these systems could help overcome this fragmentation and extend the benefits of digitalisation to cross-border payments.

    This approach offers several advantages. It would reduce costs, increase the speed and transparency of cross-border payments and shorten transaction chains. It would also enable payment service providers to conduct transactions without having to use multiple payment systems or a long chain of correspondent banks. Moreover, it would ensure that the platform to connect and convert currencies would be managed as a public good, thus avoiding closed loops and discriminatory pricing. Accordingly, the G20 Roadmap has identified interlinking as a key strategy for enhancing cross-border payments.[24]

    Europe serves as a compelling example of what this interconnected payments landscape might look like. Within the euro area, account holders can transfer funds instantly 24/7 through the TARGET Instant Payment Settlement (TIPS) service. A key feature of TIPS is that it is a multi-currency platform that settles instant payments within a payment scheme – the SEPA Instant Credit Transfer scheme – governed by uniform rules, standards and protocols, avoiding the risk of fragmentation.

    Taking advantage of this multi-currency feature, Sweden is already using TIPS for making fast payments in kronor.[25] Denmark will do the same as of this month[26] and Norway as of 2028[27].

    In October 2024 the ECB’s Governing Council decided to take concrete steps towards interlinking TIPS with other fast payment systems to improve cross-border payments globally.[28]

    First, a cross-currency settlement service will be implemented within TIPS. This will make it possible for instant payments originating in one TIPS currency to be settled in another. Initially, this service will enable cross-currency payments between the euro area, Sweden and Denmark.[29]

    Second, a cross-currency settlement service will be implemented for the exchange of cross-border payments between TIPS and other fast payment systems globally.[30] This will allow to explore interlinking TIPS with fast payment systems that have a compatible scheme, are interested in being involved and ensure full compliance with the standards set by the Financial Action Task Force to combat money laundering and terrorist financing.

    Third, the Eurosystem will explore connecting TIPS to a multilateral network of instant payment systems through Project Nexus, led by the Bank for International Settlements (BIS).[31] By connecting to Nexus, TIPS could evolve into a hub for processing instant cross-border payments to and from the euro area and other countries that are using TIPS.[32]

    Fourth, the Eurosystem is currently assessing the feasibility of creating a bilateral link with India’s Unified Payments Interface (UPI).[33] UPI has the highest instant payment transaction volumes in the world, with close to 500 million transactions per day[34], and India is among the top ten recipients of euro area remittances.

    We are going even further to address the situation in the Western Balkans, since most countries in the region do not yet have a fast payment system.[35] As a service provider for TIPS, Banca d’Italia is working with the central banks of Albania, Bosnia and Herzegovina, Kosovo and Montenegro to develop an instant multi-currency payment system based on TIPS software, with North Macedonia potentially joining at a later stage.[36] The new platform will make it possible to pay instantly within each country and across countries. It will also ease the path towards enabling instant payments between participating countries and the euro area.

    The international role of the digital euro

    Now let me turn to the second initiative we are exploring to enhance cross-border retail payments, namely the creation of a digital euro and its use in third countries.

    A digital euro would be a central bank digital currency, an electronic equivalent to cash. It would complement banknotes and coins, giving people an additional option that they could use free of charge for any digital payment across the euro area. It would work both online and offline in shops or when making person-to-person or e-commerce transactions. Moreover, it would provide a European infrastructure that could be used by private payment service providers to offer their own solutions across the continent, thereby fostering competition and innovation.

    While the digital euro would primarily be used in the euro area, it is worth considering its possible international use. The current draft legislation foresees an approach that respects the sovereignty of third countries, mitigates potential risks for them and offers them new opportunities.

    Non-euro area residents could have access to the digital euro when visiting the euro area temporarily by setting up an account with a European payment service provider. We also believe that we could enable merchants outside the euro area to accept digital euro payments from euro area residents.[37]

    Moreover, users outside the euro area could be granted permanent access to the digital euro subject to an agreement between the EU and third countries, complemented by an arrangement between the ECB and the respective central banks.[38]

    In any case, use of the digital euro in third countries would be implemented gradually and with the appropriate safeguards to ensure that it would be used primarily as a means of payment and would not stoke currency substitution. For instance, individual holding limits for users outside the euro area would not be allowed to exceed the limits set for euro area residents and citizens.

    Moreover, the digital euro’s design includes multi-currency enabling features similar to those of TIPS. In practice, this means that non-euro area countries could use the digital euro infrastructure to offer their own digital currencies, thus facilitating transactions across these currencies. The digital euro could therefore provide a solution for offering and transferring central bank digital currencies internationally and serve as a platform for innovation in cross-border payments. On this basis, the digital euro could facilitate cross-border payments and remittances, making them more efficient and cost-effective.

    Conclusion

    Let me conclude.

    We find ourselves at a pivotal moment in the evolution of cross-border payments. The current geopolitical landscape threatens to fragment our global payment systems, potentially leading to inefficiencies and reduced transparency. However, this challenge also presents an opportunity for positive change.

    The region where we are meeting today exemplifies the challenges we face, what we can achieve through collaboration and the potential for further progress.

    As we move forward, our goal is clear: we must develop safer, more accessible alternatives that make global payments cheaper, faster and more transparent, without compromising on integrity, stability and sovereignty.

    The time for action is now. Through innovation, interoperability and a commitment to open financial markets, we can build a global payment system that is resilient to geopolitical shifts and can support economic growth and financial inclusion worldwide.

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: Promote Fishing Practices

    Source: Government of India

    Posted On: 01 APR 2025 3:45PM by PIB Delhi

    ‘Fisheries’ is a state subject. While the governance of fisheries in the territorial waters of 12 nautical miles falls under the domain of the State Governments, fisheries in the Exclusive Economic Zone (EEZ) and beyond is the subject of the Union Government. The ‘National Policy on Marine Fisheries, 2017’ (NPMF, 2017) notified by the Department of Fisheries, Government of India provides guidance for sustainable harnessing of marine resources in the country. The conservation and management measures implemented for sustainable harnessing of marine resources inter alia include 61 days of annual fishing ban, Ban on destructive fishing practices viz. paired bottom trawling or bull trawling and use of artificial and LED lights in fishing, marine protected areas (MPAs) and protection of endangered, threatened and protected (ETP) species, Turtle Excluder Devices (TEDs) in trawl nets, fishing gear and mesh-size regulations, minimum legal size (MLS) of fishes, spatial-temporal restrictions, and zonation of fishing areas by the coastal States/UTs, etc.

    The Department of Fisheries, Government of India is implementing a flagship scheme “Pradhan Mantri Matsya Sampada Yojana (PMMSY)” with a vision of ecologically healthy, economically viable and socially inclusive fisheries sector that contributes towards economic prosperity and well-being of fishers in a sustainable and responsible manner. Under PMMSY, the activities such as sea ranching and installation of artificial reefs are supported for the first time by the Government across entire coastline of India for enhancing the fish stocks and supporting livelihood of fishers. Besides, the activities such as mariculture including seaweed cultivation, open sea cage culture, bivalve culture and ornamental fisheries are also promoted under PMMSY to reduce the fishing pressure in the nearshore waters and enhancing marine production. Advisories are also issued to coastal States/UTs from time to time for preventing juvenile fishing and promoting sustainable fishing practices.

    Government schemes including PMMSY are aimed at reducing the post-harvest losses by development and modernization, strengthening of fisheries post-harvest infrastructure, value chain and marketing infrastructure including construction/ modernization and upgradation of fishing harbours/fish landing centres, setting up of markets and marketing infrastructures, providing cold-chain of transportation and storage facilities. During the last 10 years, the Government of India has approved the projects for construction/modernization of 67 Fishing Harbours and 50 Fish Landing Centres at a total cost of Rs 9,735.89 crore for safe landing and berthing of about 48,000 fishing vessels, benefitting 9 lakhs fishers and associated stakeholders. Further, the GoI has also created a dedicated fund namely ‘Fisheries and Aquaculture Infrastructure Development Fund’ (FIDF) with a corpus of Rs 7522.48 crore in 2018-19 for providing the concessional finance. GoI has also supported for improvements in the transportation & logistics network including processing facilities. This includes 27,189 fish transportation facilities, 6,916 fish retail markets, wholesale markets and fish kiosks, 11 integrated aquaparks, 1,725 fish feed mill/plants & ice plant/cold storages and 128 value added enterprise units. Three Modern and Smart Fish Markets are being developed with facilities such as IoT, e-Trading, green technology, logistic supply chain integration, etc.

    DoF, GoI is taking various steps under the PMMSY towards providing financial assistance to fishers, which includes livelihood and nutritional support provided annually to ~5.94 lakh fisher families during the fishing ban and lean periods. Besides, the Group Accident Insurance Scheme cover was increased from ₹1 lakh to ₹5 lakh benefiting 32.16 lakh fishers. The empowerment of fisheries cooperatives and entrepreneurship has been prioritized through the establishment of 2,195 Fisheries Farmer Producer Organizations (FFPOs). Additionally, 63 FFPOs have been integrated into the Open Network for Digital Commerce (ONDC), improving access to markets and fair pricing. Under the PMMSY, financial assistance is also provided to traditional fishers for acquisition of deep-sea fishing vessels, upgradation of existing fishing vessels for export competence, procurement of boats and nets by traditional fishers for better catch, vessel communication and support system and safety kits to ensure safety of fishermen at sea.

    The Government has taken several steps to increase the fish stocks, such as implementation of uniform fishing ban during monsoon season, ban on destructive fishing methods, discouraging juvenile fishing, installation of artificial reefs, promoting sea ranching, alternate/additional livelihood to coastal communities to reduce fishing pressure etc. The potential of fishery resources are estimated in regular intervals by committee of experts to ascertain the status of fish stocks and revalidation of potential of fishery resources in the Exclusive economic Zone of India. The sustainable fisheries in the maritime zones of India is ensured by way of implementation of laws, regulations and policies at national and state levels. As per the report of Marine Fish Stock Status of India 2022, published by ICAR-Central Marine Fisheries Research Institute (CMFRI), the marine fish stocks of the Indian waters are in good health and 91.1% of the 135 fish stocks evaluated in different regions during 2022 were found sustainable.

    The NPMF, 2017 inter alia recommends the use of Information Technology (IT) and Space Technology (ST) to ensure optimum use for harnessing the benefits in support of the fisher community. The DoF, GoI through its schemes and programs, has promoted use of IT and ST for various applications for the benefits of fishers such as providing real-time Potential Fishing Zone (PFZ) advisories and weather forecasts to fishers, use of Vessel Monitoring System/Automatic Identification System, safety kits to fishers for their safety. The Vessel Communication and Support System (VCSS) is provided to ensure safety of fishermen at sea. The bycatch could undermine the integrity of the marine ecosystem, therefore, DoF, GoI is providing 100% financial assistance to fishers shared between Centre and State/UTs in the ratio of 60% Central share and 40% State share without any share of fisher/beneficiary, for installation of Turtle Excluder Device (TED).

    The availability of fish and fish products throughout India is ensured through promotion of sustainable and responsible fishing practices, conservation and optimum utilization of fishery resources, promotion of aquaculture and reduction in post-harvest losses. Moreover, the DoF, GoI has been implementing various schemes and programs which inter alia promotes various activities for enhancing production and productivity of fishery resources, ensuring availability of fish as an affordable source of nutrition for the growing population, especially in low-income regions.

    This information was given by Union Minister of State, Ministry of Fisheries, Animal Husbandry and Dairying, Shri George Kurian, in a written reply in Lok Sabha on 1st April, 2025.

    *****

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  • MIL-OSI Asia-Pac: Promotion of Aquaculture Insurance

    Source: Government of India

    Posted On: 01 APR 2025 3:42PM by PIB Delhi

    The Ministry of Fisheries Animal Husbandry and Dairying is implementing various schemes for development of Fisheries, Animal Husbandry and Dairying sectors which inter-alia include (i) Pradhan Mantri Matsya Sampada Yojana (PMMSY), (ii) Fisheries and Aquaculture Infrastructure Development Fund (FIDF), (iii) Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY), (iv) Livestock Health and Disease Control Programme, (v) Infrastructure Development Fund, (vi) Dairy Development, (vii) Rashtriya Gokul Mission, (viii) Livestock Census & ISS, (ix) National Livestock Mission and (x) Dairying through Cooperatives.  During the year 2024-25, an amount of Rs. 5113.00 crore has been allocated and an amount of Rs.3459.74 crore has been spent for various activities across the country under these above schemes by 23rd March, 2025.

    The Department of Fisheries, Ministry of Fisheries Animal Husbandry and Dairying is implementing a new Central Sector Sub-scheme namely the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) under the ongoing Pradhan Mantri Matsya Sampada Yojana (PMMSY) for a period of four years from FY 2023-24 to FY 2026-27 at an estimated outlay of ₹6000. The Component 1-B of PM-MKSSY provides onetime incentive to the aquaculture farmers against purchase of insurance with farm size upto 4 hectares of water spread area.

     The ‘onetime incentive’ is provided at the rate of 40% of the cost of premium subject to the ceiling of ₹25000 per hectare of water spread area of the aquaculture farm. The maximum incentive payable to single farmer is ₹100,000 upto farm size of 4 hectares of water spread area. For intensive form of aquaculture other than farms such as cage culture, Re-circulatory Aquaculture System (RAS), bio-floc, raceways, etc. the incentive payable is 40% of premium. The maximum incentive payable is ₹1 lakh and the maximum unit size eligible is 1800 m3. The aforesaid benefit of ‘onetime incentive’ is provided for aquaculture insurance purchased for one crop only i.e. one crop cycle.  Scheduled Caste (SC), Scheduled Tribe (ST) and Women beneficiaries would be provided an additional incentive @ 10% of the incentive payable for General Categories. 

    The Component 3 of PM-MKSSY provides financial incentive to fisheries micro and small enterprises in the form of Performance Grant for adoption of value chain efficiencies, safety and quality assurance systems in fish and fishery products against a set of measurable parameters. The quantum of Performance Grant is: (i) for microenterprise, 25% of the total investment or, ₹35 lakhs, whichever is lower, for General Category and 35% of total investment or, ₹45 lakhs, whichever is lower, for SC, ST and Women owned microenterprises. (ii) for Small enterprise, 25% of total investment or ₹75 lakhs, whichever is lower, for General Category and 35% of total investment or ₹100 lakhs, whichever is lower, for Scheduled Caste (SC), Scheduled Tribe (ST) and Women owned small enterprises. (iii) for Village Level Organizations and Federations of Self Help Groups (SHGs), Fish Farmer Producer Organisation (FFPOs) and Cooperatives, 35% of total investment or ₹200 lakhs, whichever is lower.

    This information was given by Union Minister of State, Ministry of Fisheries, Animal Husbandry and Dairying, Shri George Kurian, in a written reply in Lok Sabha on 1st April, 2025.

    *****

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  • MIL-OSI Asia-Pac: Ornamental Fish Export Industry

    Source: Government of India

    Posted On: 01 APR 2025 3:36PM by PIB Delhi

    The Department of Fisheries (DoF), Government of India (GoI) has taken various steps to promote ornamental fisheries in the country including North East and Southern State. Under Pradhan Mantri Matsya Sampada Yojana (PMMSY), 2465 unit of Ornamental fish rearing units, 207 Integrated Ornamental fish (breeding and rearing) units, 5 fresh water Ornamental Fish Brood Bank units and 144 units of Promotion of Recreational Fisheries have been approved at a total cost of Rs.230.45 crore during the last four financial years (2020-21 to 2023-24) and current financial year (2024-25).

    To promote entrepreneurship, infrastructure and market expansion in the area of ornamental fisheries, the DoF, GoI has notified Madurai District of Tamil Nadu as the Ornamental fisheries cluster under PMMSY during 2024-25. The proposal of Government of Assam has also been approved for construction of an aquarium at Amingaon, Kamrup for display of indigenous variety of ornamental fish from North India. Further, To prepare the strategy and roadmap for development of ornamental fisheries resources in the country, the project proposal of ICAR-Central Institute of Freshwater Aquaculture (ICAR-CIFA) approved for Strategic Planning and Database development of Ornamental Fisheries Value Chain Upgradation in India under PMMSY.

    Under PMMSY, the proposal of Government of Madhya Pradesh approved at cost of Rs.2.60 crore for establishment of 11 unit of ornamental fish breeding and rearing unit. Under Fisheries and Aquaculture Infrastructure Development Fund (FIDF), the project proposal of Government of Tamil Nadu has been approved with total outlay of Rs.5.00 crore for establishment of a public aquarium and ornamental fish retail unit at Tirunelveli in Tirunelveli District. National Fisheries Development Board (NFDB) has extended financial support to Tropical Aquaculture and farming systems, Udaipur, Rajasthan and Government of Rajasthan for organising training and skill development programme for 1000 trainees to promote ornamental fisheries in the state of Rajasthan.

    ICAR-Central Institute of Freshwater Aquaculture (CIFA), Bhubaneswar has reported that Indian ornamental fish industry is valued at approximately Rs.3,000 crore which includes breeding, rearing, trade of ornamental fishes, aquarium accessories, aquatic plants, and decorative items, contributing significantly to employment and entrepreneurship. As reported by ICAR-CIFA, at present, about 1,300 aquarium shops are in operation in Madhya Pradesh and 700 shops in Rajasthan. 

    This information was given by Union Minister of State, Ministry of Fisheries, Animal Husbandry and Dairying, Shri George Kurian, in a written reply in Lok Sabha on 1st April, 2025.

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  • MIL-OSI Asia-Pac: PARLIAMENT QUESTION: DEVELOPMENT OF SILK SECTOR

    Source: Government of India

    Posted On: 01 APR 2025 10:09AM by PIB Delhi

    The Government through Central Silk Board has been implementing Silk Samagra-2 scheme with an outlay of Rs. 4,679.85 crore for the overall development of sericulture industry in the country from the year 2021-22 to 2025-26.

    Under the scheme, financial assistance is provided to States towards implementation of various beneficiary oriented field level critical interventions, which includes raising of kissan nurseries, silkworm rearing packages (includes assistance for plantation, irrigation, rearing house, rearing equipments and prophylactic measures), establishment of chawki rearing centres in pre-cocoon sector, support and infrastructure oriented interventions for silkworm seed sector, silk reeling, spinning, weaving, processing components meant for post cocoon sector. 

    So far, the central assistance of Rs. 1,075.58 crore has been provided to States to cover around 78,000 beneficiaries under Silk Samagra-2 scheme towards implementation of beneficiary-oriented components covering both pre and post cocoon activities/machineries for the growth and sustainability of sericulture sector.

    Additionally, through Research & Development activities, the production and productivity of silk has been improved to achieve the goal of Aatmanirbhar Bharat in silk sector.

    Based on the proposals received from the States, central assistance of Rs 72.50 crore to Andhra Pradesh and Rs.40.66 crore to Telangana has been provided towards implementation of beneficiary-oriented components under Silk Samagra-2, during the last three years including the current year.

    The Government is implementing Raw Material Supply Scheme (RMSS) and National Handloom Development Programme to promote Handloom sector  throughout the country including Andhra Pradesh & Telangana States. Under the above schemes, financial assistance is provided to eligible Handloom agencies/workers for raw material, procurement of upgraded looms and accessories, solar lighting units, construction of workshed, products diversification & design innovation, technical and common infrastructure, marketing of Handlooms products in domestic & overseas markets, concessional loans under weavers’ MUDRA Scheme and Social Security, etc. In addition, to give wider exposure to all the textile stakeholders including Handloom industry, several marketing events in the form of fairs/melas, exhibitions and expos are organised through support of CSB, National Handloom Development Programme (NHDP), Export Promotion Councils (EPC) of textiles including Indian Silk Export Promotion Council, with the support of Ministry of Textiles.

    This information was provided by THE MINISTER OF STATE FOR TEXTILES SHRI PABITRA

    MARGHERITA in a written reply to a question in Rajya Sabha today.

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    DHANYA SANAL K

     (Rajya Sabha US Q3354)

    (Release ID: 2117113) Visitor Counter : 58

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: PARLIAMENT QUESTION: BUDGETARY ALLOCATIONS AND INITIATIVES FOR ENHANCING TEXTILE EXPORT

    Source: Government of India

    Posted On: 01 APR 2025 10:08AM by PIB Delhi

    The Government is implementing Production Linked Incentive (PLI) Scheme for Textiles on Pan India basis. PLI scheme is aimed at promoting the production of MMF Apparel, MMF fabrics and products of Technical Textiles to achieve size and scale and to become competitive. As per Ministry’s Budget Estimate 2025-26, approx. 22% of the budget is dedicated for PLI Scheme for Textiles. Out of the   74 applicants selected under the scheme, 24 are MSMEs. Turnover of Rs. 2,16,760 cr. including exports is projected for the scheme period.

    In addition, Government is implementing Rebate of State and Central Taxes and Levies (RoSCTL) scheme for Apparel/Garments and Made-ups in order to enhance competitiveness by adopting principle of zero rated exports. Further, textiles products not covered under the RoSCTL scheme are covered under Remissions of Duties and Taxes on Exported Products (RoDTEP) along with other products. In addition, Government provides financial support to various Export Promotion Councils and Trade Bodies under Market Access Initiative Scheme implemented by Department of Commerce for organizing and participating in trade fairs, exhibitions, buyer-seller meets etc. at national and international levels.

    This information was provided by THE MINISTER OF STATE FOR TEXTILES SHRI PABITRA

    MARGHERITA in a written reply to a question in Rajya Sabha today.

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    DHANYA SANAL K

     (Rajya Sabha US Q3358)

    (Release ID: 2117110) Visitor Counter : 54

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: HKMA and GCFFC co-host APAC Fighting Financial Crime Conference 2025 (with photos)

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Hong Kong Monetary Authority:
     
    The Hong Kong Monetary Authority (HKMA) and the Global Coalition to Fight Financial Crime (GCFFC) co-hosted the APAC Fighting Financial Crime Conference 2025 today (April 1), under the theme of “Fighting Financial Crime in a More Complex World”.

    The event gathered leading global and regional anti-money laundering (AML) and counter-financing of terrorism (CFT) experts together with participants from across Hong Kong’s AML/CFT ecosystem, including representation from banks, government agencies, financial regulators, and law enforcement agencies. Participants shared insights on how to improve the fight against fraud and financial crime with keynotes, panels and interactive discussions.
     
    Welcoming the participants, Mr Raymond Chan, Executive Director (Enforcement and AML) of the HKMA, said, “Criminality has evolved on the back of the digitalisation of financial services and we must respond quicker and with the same level of innovation, including how we collaborate to share information and leverage artificial intelligence to deliver step changes in the results achieved.”
     
    Mr Keith Yip, Director of Crime and Security of the Hong Kong Police Force, said, “Through relentless collaboration and cutting-edge strategies, we shall prevail in the fight against financial crimes — from cyber-enabled fraud to transnational money laundering. Harnessing data-driven intelligence and global partnerships, we reaffirm our pledge to protect vulnerable communities and disrupt criminal networks, securing a resilient future for all.”
     
    Mr John Cusack, Chair of the GCFFC, thanked the HKMA for bringing leading experts together and said, “We invited leading financial crime fighters from the public, private and third sectors to meet and discuss critical topical and emerging issues under the theme ‘Fighting Financial Crime in a More Complex World’ and we had a lively discussion which helped everyone better understand threats and the best practices and evolving initiatives.”
     
    In a series of panels and breakout sessions, participants shared experience and expertise in maximising opportunities to enhance industry efforts to combat money laundering and financial crime, strengthening protection for customers, and improving the outcomes achieved by the global AML system.
     
    Some of the highlights included:
     

    • a call to action to strengthen efforts to tackle high levels of frauds and scams based on international best practices and the latest developments in the use of technology;
    • the changes banking supervisors have made to AML supervision to improve the outcomes achieved by banks to combat fraud and financial crime;
    • how Hong Kong has been at the forefront of international AML standard setting, in a conversation with Mrs Clarie Lo, former President of the Financial Action Task Force; and
    • how public and private collaboration in the Asia Pacific region is driving a stronger response to fraud and financial crime, for example, the latest development being legislative changes introduced by the HKMA to support information sharing between banks.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: PARLIAMENT QUESTION MODERNIZATION AND UPGRADED TECHNOLOGY IN SERICULTURE SECTOR

    Source: Government of India

    Posted On: 01 APR 2025 10:08AM by PIB Delhi

    Karnataka is the largest silk producing state in the country, with production of 12,463 MT raw silk during 2023-24, which accounts to around 32% of country’s total raw silk production and around 42% of country’s mulberry raw silk production.

    The Government through Central Silk Board has been implementing Silk Samagra-2 scheme with an outlay of Rs. 4,679.85 crore for the overall development of sericulture industry in the country from the year 2021-22 to 2025-26.

    Under the scheme, financial assistance is provided to States towards implementation of various beneficiary oriented field level critical interventions. 

    So far, the central assistance of Rs. 1,075.58 crore has been provided to States to cover around 78,000 beneficiaries under Silk Samagra-2 scheme towards implementation of beneficiary-oriented components covering both pre & post cocoon activities/machineries for the growth and sustainability of sericulture sector.

    Based on the proposals received from the Karnataka State Sericulture Department, central assistance of Rs. 241.62 crore has been provided to cover around 16,000 beneficiaries during last three years and the current year under Silk Samagra-2 scheme. Around 7,000 persons have been trained by the CSB R&D institutes in Karnataka during the last three years & the current year. Based on the State’s proposal for the benefit of silk producers & artisans, support has been provided for establishment of 32 Multi-end Reeling Machines, 42 Automatic Reeling Machines, 40 motorised charka, 2 pupae processing units and for upgradation of 143 cottage basins

    The Silk Samagra-2 scheme focuses on integrated production approach by providing required backward & forward linkages in the silk production chain, through provision of R&D & technical support, ensuring availability of planting material & silkworm seed, strengthening of market infrastructure & up-scaling of reeling & processing sector.

    The Government, through Central Silk Board has enhanced the global competitiveness of Indian silk & silk products including Karnataka through establishment of 42 Automatic Reeling Machines (ARM)  under Silk Samagra-2, generic and brand promotion of silk products in  Karnataka and organization of ‘Silk Mark Expos’.

    This information was provided by THE MINISTER OF STATE FOR TEXTILES SHRI PABITRA MARGHERITA in a written reply to a question in Rajya Sabha today.

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    DHANYA SANAL K

    (Rajya Sabha US Q3355)

    (Release ID: 2117112) Visitor Counter : 54

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: PARLIAMENT QUESTION: BUDGETARY ALLOCATION TO MEGA HANDLOOM CLUSTERS

    Source: Government of India

    Posted On: 01 APR 2025 10:07AM by PIB Delhi

    Government of India through the Office of Development Commissioner (Handlooms), Ministry of Textiles is implementing Mega Cluster Development Programme, a component of National Handloom Development Programme (NHDP), all across the country (including Andhra Pradesh State). Under Mega Cluster Development Programme, need based financial assistance upto Rs.30.00 Crore (GOI share) per Mega Handloom Cluster is provided on receipt of complete proposals for various interventions like upgraded looms & accessories, solar lighting units, worksheds, design and product development, marketing support, setting up of common infrastructure such as Value Addition Centre (Garmenting/Apparel unit), Reeling, Processing, Printing units etc.

    There is no separate budget allocation for Mega Cluster Development programme however, during financial year 2022-23 to 2024-25, financial assistance of Rs.3,029.327 lakh has been provided for setting up of Mega Handloom Clusters.

    No financial assistance has been provided to Mega Handloom Cluster identified in Prakasam and Guntur districts of Andhra Pradesh State during financial year 2022-23 and 2023-24.

    This information was provided by THE MINISTER OF STATE FOR TEXTILES SHRI PABITRA

    MARGHERITA in a written reply to a question in Rajya Sabha today.

    ***

    DHANYA SANAL K

    (Rajya Sabha US Q3360)

    (Release ID: 2117108) Visitor Counter : 51

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Fraudulent website and internet banking login screen related to Chong Hing Bank Limited

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Hong Kong Monetary Authority:

    The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by Chong Hing Bank Limited relating to a fraudulent website and an internet banking login screen, which have been reported to the HKMA. A hyperlink to the press release is available on the HKMA website.
     
    The HKMA wishes to remind the public that banks will not send SMS or emails with embedded hyperlinks which direct them to the banks’ websites to carry out transactions. They will not ask customers for sensitive personal information, such as login passwords or one-time password, by phone, email or SMS (including via embedded hyperlinks).
     
    Anyone who has provided his or her personal information, or who has conducted any financial transactions, through or in response to the website or login screen concerned, should contact the bank using the contact information provided in the press release, and report the matter to the Police by contacting the Crime Wing Information Centre of the Hong Kong Police Force at 2860 5012.

    MIL OSI Asia Pacific News –