Category: Entertainment

  • MIL-OSI United Kingdom: Free activities and food for Portsmouth children this February half term

    Source: City of Portsmouth

    This February half term Portsmouth children can play football, skate, scoot, enjoy musical theatre and more completely free of charge, thanks to Portsmouth City Council’s Holiday Sessions.

    The free sessions are running from Monday 17 February to Friday 21 February, but hurry as places are limited.

    They’re open to all children aged from 6-18 living in PO1-PO6, with some sessions for ages 6-18. They are especially aimed at low-income families who are struggling with increased cost of living who may otherwise not be able to afford such activities.

    Nutritious meals/snacks are provided on all days, with free transport included in many of the events.

    The council is putting on the activities through its Household Support Fund, funded by the UK Government.

    Council Leader Cllr Steve Pitt said:

    “Our holiday activity schemes have been a big success, they’re a great way for kids to meet and have fun getting active.

    “They’re open to all Portsmouth children, though we especially want to appeal to families who would otherwise struggle to pay for their children to enjoy half term club activities.”

    Booking is required and spaces are limited. Book your half-term activities here.

    Anyone with questions can phone 07901 100537 or email eptengagement@portsmouthcc.gov.uk

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Thousands expected for opening night of Spectra 2025

    Source: Scotland – City of Aberdeen

    Spectra, Scotland’s Festival of Light, will get underway this evening as thousands of eventgoers from across Scotland, Aberdeen and further afield, are expected to descend on the Granite City to enjoy the magic and wonder that the popular four-day event offers.

    Featuring 15 artworks including giant projections and huge interactive light installations, as well as entertainment from street performers, to dancers, and musicians, the free-to-attend festival, owned and commissioned by Aberdeen City Council, and produced by Live Event Management, is now in its 11th year and saw over 100,000 people attend last year.

    Councillor Martin Greig, cultural spokesperson for Aberdeen City Council, said: “Spectra is finally here and we cannot wait for visitors from the city and beyond to revel in the magic that this year’s festival offers. The planning for this year’s festival has been underway for months. A great deal of people have been working with the Council to make this event a success. There has been excellent collaboration with artists and local groups. All the preparation and hard work is going to create wonderful experiences for everyone to enjoy. The opening night is a very happy celebration of all the collective artistic activity.”

    Running from 6th – 9th February and helping to light up the city are a range of leading artists and installations from across the UK and Australia, including a giant inflatable castle called Sky Castle by Australian artists ENESS, a huge neon colouring wall by Scottish illustrator, Johanna Basford OBE, and two installations by Newcastle-based Studio Vertigo which include a huge illuminated slinky and a giant moon apparently removed from its orbit and lassoed to a boat.

    A 50m long multi-sensory walkway by Kent-based Lucid Creates, is designed to distort reality, creating shifts in time and space, exploring the contrast between light and dark using strobes of light.

    The heartbeats of over 65 Aberdonians, a sprawling illuminated fungal network and a virtual exhibition by artist Craig Barrowman and local artists that transforms public space into an immersive experience using a smartphone and the Northern Lights AR app can also be enjoyed.

    A specially commissioned art piece by Aberdeen Art Gallery and Scottish artist, Council Baby, will take pride of place in the Gallery’s magnificent Sculpture Court area which will see a large-scale video installation projection comprising of four striking stained-glass designs which have been inspired by works in the city’s collection and visits to the area, with each animated panel capturing different aspects of Aberdeen’s rich history.

    The iconic ABERDEEN letters by Aberdeen Inspired will feature a special design for the occasion at their new temporary residence outside of Marischal College for the duration of the festival.

    More information on the festival can be found at www.spectrafestival.com

    Photo (Left to Right): Artists from IDONTLOVEYOUANYMORE; Councillor Martin Greig; and artists from RGU Northern Lights; in front of Council Baby’s Fit D’You Know About The Bon Accord video installation, which was commissioned by Aberdeen Art Gallery for Spectra 2025. 

    MIL OSI United Kingdom

  • MIL-OSI China: VAT invoice data reflects robust Spring Festival holiday consumption

    Source: China State Council Information Office 3

    China’s State Taxation Administration released value-added tax (VAT) invoice data on Wednesday, revealing strong consumer spending during the Spring Festival holiday.

    The eight-day holiday, which ended on Tuesday, saw the average daily sales revenues of consumer-related industries increase 10.8 percent from last year’s Spring Festival.

    Goods consumption grew 9.9 percent year on year, and services consumption saw a 12.3 percent rise, according to the data.

    Strong participation in China’s policy-backed consumer goods trade-in program boosted holiday market consumer sentiment.

    Household appliance and audiovisual equipment sales revenues surged 166.4 percent from last year’s holiday figure, and sales of communication devices jumped 181.9 percent.

    Since last year, “trade-in” has been a buzzword in China’s consumer market, driving retail sales growth steadily.

    The holiday saw a tourism market boom, with sales revenues from tourism-related services increasing 37.5 percent.

    Homestay businesses flourished during the period, attracting tourists with personalized lodging experiences marked by local cultural characteristics. Their sales revenues increased 12.6 percent compared to the Spring Festival holiday last year.

    Demand for sports entertainment and fitness services remained strong, with sports venues reporting a 135 percent increase in sales revenues and fitness services seeing a 224.1 percent revenue rise.

    Department store retail sales increased 5.2 percent, and convenience store sales grew 16.1 percent, according to the data.

    The vibrant holiday market has boosted confidence in the Chinese economy, setting a positive tone for the rest of the year, said Chen Lifen, a researcher at the Development Research Center of the State Council.

    MIL OSI China News

  • MIL-OSI: International Petroleum Corporation to release 2024 Year-End Financial and Operational Results and to hold Capital Markets Day on February 11, 2025

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 06, 2025 (GLOBE NEWSWIRE) — International Petroleum Corporation (IPC) (TSX, Nasdaq Stockholm: IPCO) will publish its financial and operating results and related management’s discussion and analysis for the three months and year ended December 31, 2024, on Tuesday, February 11, 2025 at 07:30 CET, followed by an audiocast at 10:00 CET (09:00 GMT). IPC’s annual Capital Markets Day will also be held on Tuesday, February 11, 2025 as a webcast at 15:00 CET (14:00 GMT).

    Follow the 2024 year-end financial and operating results presentation starting at 10:00 CET (09:00 GMT) live on www.international-petroleum.com or using the link below:

    Presentation Link: https://ipc.videosync.fi/2025-02-11-q4

    Follow the Capital Markets Day presentation at 15:00 CET (14:00 GMT) live on www.international-petroleum.com or using the link below:

    Presentation Link: https://ipc.videosync.fi/2025-02-11-cmd

    International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm under the symbol “IPCO”.

    For further information, please contact:

    Rebecca Gordon
    SVP Corporate Planning and Investor Relations
    rebecca.gordon@international-petroleum.com
    Tel: +41 22 595 10 50
    Or Robert Eriksson
    Media Manager
    reriksson@rive6.ch
    Tel: +46 701 11 26 15
         

    Forward-Looking Statements
    This press release contains statements and information which constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including the Corporation’s future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

    All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “forecast”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budget” and similar expressions) are not statements of historical fact and may be “forward-looking statements”.

    The MIL Network

  • MIL-OSI: c/side Media Alert: What E-Commerce Businesses Must Know About Recent PCI DSS Updates

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, Feb. 06, 2025 (GLOBE NEWSWIRE) — c/side, a cybersecurity company with tools for monitoring, optimizing, and securing vulnerable browser-side third-party scripts, today highlighted new self-attestation requirements introduced in recent PCI updates ahead of the March 31, 2025, compliance deadline.

    The Payment Card Industry Security Standards Council (PCI SSC) introduced significant changes to Self-Assessment Questionnaire A (SAQ A) on January 30, 2025. While SAQ A has traditionally offered a simplified compliance path for low-risk merchants not storing cardholder data, the update adds a crucial requirement: merchants must now confirm their e-commerce systems are protected against client-side script attacks to maintain their SAQ A qualification status.

    “E-commerce businesses must now self-attest that their site is secure against client-side web script attacks,” said Simon Wijckmans, CEO and founder, c/side. “This change presents compliance challenges, especially for merchants relying on third-party payment providers, as many lack the expertise to assess client-side risks. Without the right protections, they may no longer qualify for SAQ A. The best way to ensure PCI DSS 4.0.1 compliance is to continuously monitor the client-side environment in real-time and stay ahead of evolving threats.”

    What e-commerce merchants must know:

    • Critical March 31 deadline: Merchants must verify (and attest to) their protection against client-side attacks to maintain SAQ A qualification under PCI DSS v4.0.1.
    • Expanded merchant responsibility: While requirements 6.4.3 and 11.6.1 are no longer mandatory, merchants must now actively demonstrate client-side security measures.
    • Hidden vulnerabilities in modern e-commerce: Third-party payment providers do not automatically protect against script manipulation, leaving payment data exposed to sophisticated attacks.
    • Escalating risk environment: Client-side attacks have been rising fast and affecting merchants both large and small.

    Additional resources:

    About c/side

    c/side is a forward-thinking cybersecurity startup focused on browser-side detection and protection. Led by industry expert Simon Wijckmans, c/side is pioneering technologies to shield against sophisticated cyber threats, ensuring unparalleled security standards for users across the web.

    Contact
    Kyle Peterson
    kyle@clementpeterson.com

    The MIL Network

  • MIL-OSI United Kingdom: Royal Liverpool Philharmonic Society announces new Chief Executive

    Source: City of Liverpool

    Royal Liverpool Philharmonic Society has announced that it has appointed Vanessa Reed as its new Chief Executive. She will take up the position on 2 June 2025.

    Vanessa will lead one of the most important music organisations in the UK, comprising the Royal Liverpool Philharmonic Orchestra and Choir, Liverpool Philharmonic Hall, Liverpool Philharmonic Youth Company, and an extensive learning and community programme. She succeeds Michael Eakin as Chief Executive who retires at the end of March 2025 after 16 years in the role.

    Vanessa Reed is an award-winning music executive with more than 16 years’ experience as CEO of national music organisations in the UK and the US. Since 2019, she has been President and CEO of New Music USA, a New York based national resource which supports music creation and performance across the US. In this role, Vanessa has launched an array of new initiatives including Amplifying Voices which unites over 45 US orchestras in the co-commissioning of new work and major jazz and film scoring programs which address inequities in the music industry in collaboration with leading US artists. In the US, Vanessa has also been advisor to the Recording Academy’s New York Chapter.

    Before the move to New York, Vanessa was CEO at PRS Foundation in London where she repositioned the Foundation as a pioneering international force, leading new initiatives which demonstrate her advocacy for music across a range of genres. This includes the New Music Biennial which won the Royal Philharmonic Society’s best festival award in 2012, and the global Keychange gender equity movement which has been supported by over 650 festivals and music organisations around the world, and recognised through multiple awards, including Classical Next’s Innovation Award.

    Vanessa served as Board member of Royal Liverpool Philharmonic between 2016 and 2019, was an Ambassador for the University of Liverpool and collaborated with Liverpool City Council to support emerging musicians. Her love for Liverpool stems from her father who studied law at Liverpool University in the 60’s, loved the Philharmonic Hall, and inspired her and her family to support one of the city’s football teams. She is married to a Liverpudlian – FACT founder, Eddie Berg.

    Vanessa ReedChief Executive-designate, saysI am thrilled and honoured to be the first woman appointed to the role of Chief Executive at the Royal Liverpool Philharmonic. This unique organisation is very close to my heart and Liverpool is my favourite UK city. Every time I’ve seen the Orchestra perform at Liverpool Philharmonic Hall I’ve been blown away by the quality of the players and the warmth of local audiences.  I’m inspired by Liverpool Philharmonic’s mission to transform lives through music and I’m a longstanding fan of its three-way commitment to the orchestra, venues and learning programmes which reach over 100,000 young people every year.

    My goal is to ensure that we, as one of the world’s oldest music societies, continue to evolve and thrive as we embark on our next imaginative chapter. This includes serving more of the city region’s musicians and young people through the planned “Abbey Road of the North” studios and tapping into Liverpool’s international brand for the benefit of our orchestra, led by our dynamic Chief Conductor, Domingo Hindoyan. I can’t wait to join Domingo and the Liverpool Philharmonic’s outstanding musicians, staff, board, and supporters to make all of this happen and to enjoy lots of live music in Liverpool with the audiences we welcome to our performances.

    Louise Shepherd CBE, Chair of the Board of Trustees, says: “We are thrilled to welcome Vanessa Reed as our new Chief Executive. She brings outstanding international experience in the music sector, and in encouraging, supporting and growing new musical voices, artists and audiences. She knows Liverpool Philharmonic and the city well, having served on our board between 2016-2019 and has a real passion for the work we do and the role we play within our local community, and as a nationally and internationally important orchestra and music organisation. She is a strategic and creative leader who, with our brilliant team, will take Liverpool Philharmonic forward and continue to grow the quality, ambition and reach of our work.”

    Leader of Liverpool City Council, Councillor Liam Robinson, said: “The Royal Liverpool Philharmonic is one of the UK’s most important cultural institutions, not only for its incredible annual programme of events, but also the vital role it plays in music education and community engagement – inspiring young musicians and making music as accessible as possible. This year marks the tenth anniversary of our UNESCO City of Music status, and Vanessa’s appointment seems incredibly fitting. Michael Eakin will be a hard act to follow, but Vanessa’s credentials can only enhance the vibrancy of this much-loved organisation and boost its global reputation for musical excellence.”

    Claire McColgan CBE, Director of Culture & Major Events, Liverpool City Council, says: “Vanessa’s appointment will be transformative for the Royal Liverpool Philharmonic. She is a visionary leader who has had an indelible impact on the music industry in America.

    Vanessa not only brings with her a whole wealth of knowledge and passion, but she understands this sector and is committed to elevating it where she can, promoting gender equity and diversity at every level. We’re really keen to explore links with New York, and in doing so take the Philharmonic – and the city – to exciting new frontiers. Michael has been a wonderful ambassador for Liverpool and has been a leading civic figure – a role which Vanessa is sure to embrace, and in doing so, will make the city culturally richer.”

    MIL OSI United Kingdom

  • MIL-OSI: Net Asset Value

    Source: GlobeNewswire (MIL-OSI)

    6 FEBRUARY 2025

    NORTHERN 2 VCT PLC

    UNAUDITED NET ASSET VALUE AS AT 31 DECEMBER 2024

    Northern 2 VCT PLC (“the Company”) is a Venture Capital Trust (“VCT”) launched in 1999 and managed by Mercia Fund Management Limited. The Company’s objective is to provide long-term tax-free returns to investors through a combination of dividend yield and capital growth, by investing in a portfolio of investments mainly comprising unquoted venture capital holdings. In order to maintain approval by HM Revenue & Customs as a VCT, the Company is required to comply on a continuing basis with the provisions of Section 274 of the Income Tax Act 2007.

    The unaudited net asset value per ordinary share as at 31 December 2024 was 58.6 pence (30 September 2024 (unaudited) 57.2 pence).

    The net asset value is stated before deducting the interim dividend of 1.7 pence per share in respect of the year ending 31 March 2025, which was paid to eligible shareholders on 22 January 2025.

    For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 31 December 2024 and unquoted investments are carried at fair value as at 31 December 2024 as determined by the directors.

    New Investments:
    During the three months ended 31 December 2024 three new venture capital investments were completed.

    Name of company Business activity Amount
    invested
    £000
    Semble Technology

    Enterprise AI for automated surgical tray validation

    2,072
    Scalpel AI

    Practice management software for healthcare clinicians/clinics

    1,036
    Napo

    Pet insurance provider with a focus on preventative care and customer experience

    2,052

    In addition to the new investments above, £2,456,000 was invested in five existing portfolio companies during the quarter.

    Realisations:
    During the three months ended 31 December 2024 two venture capital investments were realised.

    Name of company Sale proceeds
    £000
    Original cost
    £000
    Carrying value at 30 September 2024
    £000
    Grip-UK (t/a The Climbing Hangar) 2,525 3,536 2,568
    musicMagpie plc 376 222 228

    The number of ordinary shares in issue at 31 December 2024 was 221,196,352. During the three months ended 31 December 2024, 1,979,367 shares were purchased for cancellation at a price of 54.34 pence per share

    Enquiries:

    James Sly / Sarah Williams, Mercia Asset Management PLC – 0330 223 1430
    Website:        www.mercia.co.uk/vcts

    The contents of the Mercia Asset Management PLC website and the contents of any website accessible from hyperlinks on the Mercia Asset Management PLC website (or any other website), are not incorporated into, nor forms part of, this announcement.

    The MIL Network

  • MIL-OSI Global: Where support for Germany’s far-right AFD is growing and why – podcast

    Source: The Conversation – UK – By Laura Hood, Host, Know Your Place podcast, The Conversation

    Germany is holding an election on February 23 and the contest is attracting an unusual amount of attention. That’s because the far-right Alternative for Germany (AFD) is polling in second place on 20% of the national vote.

    Should the party end up with a vote share on this scale, it would be its best ever result in a national election. It would change the face of the German parliament and force mainstream parties into difficult questions about their longstanding refusal to work with extreme parties.

    The AFD’s roots are in nationalistic and racist movements. It continues to take an ultra anti-immigration stance and, in this election, is calling for “demigration” – effectively the deportation of migrants.

    In this episode of The Conversation Weekly podcast, Rolf Frankenberger, an expert on right-wing extremism at the University of Tübingen in Germany, explains where the AFD draws its support from and what type of Germany it wants to return to.

    Frankenburger has found two clear trends in the geographical distribution of AfD voting. The first is common among far-right parties around the world:

    “ There are always exceptions, of course, but the main pattern is that around the big cities like Berlin, like Hamburg, Bremen, Hanover, Münster, Stuttgart, Munich, Frankfurt in these cities and their direct environment and suburbs, the AFD is less important. Whereas in the specific rural areas, like in Saxonia, in the Erzgebirge, in Baden-Württemberg, in the Black Forest, in Rhineland Palatinate, in the more rural areas, they have their strongholds.”

    The second, however, is unique to Germany. Support for the AFD is far more concentrated in the east of Germany. This region was the part of the country that made up the communist German Democratic Republic between 1949 and 1990, before German reunification.

    “Reunification in Germany produced winners and losers. And in the view of many East German people – and much of it is true – there are inequalities that were produced by reunification.”

    These divisions are being exploited to push what Frankenburger terms a form of white supremacist, traditionalist “Völkisch nationalism” – not a term that is well understood outside of Germany but which resonates heavily in domestic politics.

    “And so the AFD comes in and says ‘hey, there’s something wrong with the state, there’s something wrong with democracy, and there’s something wrong with our heritage. So we have a strong German heritage. We have an identity, we have an idea and all the others are trying to destroy it’. So it’s a kind of protest.”

    To find out more about narratives pushed by the AFD, listen to the interview with Rolf Frankenberger on The Conversation Weekly podcast.


    This episode of The Conversation Weekly was written and produced by Mend Mariwany and Gemma Ware. Sound design was by Michelle Macklem, and theme music by Neeta Sarl.

    Clips in this episode from AFP News, AfD in English, DW News and Al Jazeera English.

    Listen to The Conversation Weekly via any of the apps listed above, download it directly via our RSS feed or find out how else to listen here.

    Rolf Frankenberger does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Where support for Germany’s far-right AFD is growing and why – podcast – https://theconversation.com/where-support-for-germanys-far-right-afd-is-growing-and-why-podcast-249045

    MIL OSI – Global Reports

  • MIL-OSI China: ‘Ne Zha 2’ becomes China’s all-time top-grossing film

    Source: China State Council Information Office 3

    People walk out of a movie screening room at a cinema in Kunming, southwest China’s Yunnan Province, Feb. 3, 2025. (Photo by Peng Yikai/Xinhua)

    Animated feature “Ne Zha 2” has surpassed 2021 war epic “The Battle at Lake Changjin” to become the highest-grossing film of all time in China.

    As of 1:25 p.m. Thursday, this animated blockbuster’s box office revenue had exceeded 5.77 billion yuan (about 804.84 million U.S. dollars), achieving the milestone in just eight days and five hours, according to ticketing platforms Maoyan and Beacon.

    With projections now pointing toward a final total of 9.4 to 9.5 billion yuan, “Ne Zha 2” is firmly cemented as the top-grossing film in China’s cinematic history. 

    MIL OSI China News

  • MIL-OSI Australia: (WIP) New industry standards for online safety: what service providers need to know

    Source: Allens Insights

    Deadline to carry out risk assessments is fast approaching 8 min read

    Certain online service providers must complete a risk assessment and implement required compliance measures by 21 June 2025. This relates to the following types of material:

    • child sexual exploitation
    • pro-terrorism
    • extreme crime and violence (Class 1A material)
    • crime and violence
    • drug-related material (Class 1B material).

    This is required by two industry standards referred to as the Phase 1 Standards:

    • Online Safety (Relevant Electronic Services)—Class 1A and Class 1B Material) Industry Standard 2024 (the RES Standard); and
    • Online Safety (Designated Internet Services—Class 1A and Class 1B Material) Industry Standard 2024 (the DIS Standard).

    In this Insight, we cover who needs to carry out a risk assessment and the obligations that two new industry standards impose.

    Key takeaways

    How did we get here?

    The Act provides for industry bodies to develop new codes to regulate Class 1 and Class 2 materials. The industry bodies (including the Communications Alliance, Australian Mobile Telecommunications Association, Digital Industry Group, and Interactive Games and Entertainment Association) adopted a two-phase approach to develop these codes.

    During phase 1, industry bodies drafted eight codes to regulate Class 1A and Class 1B material. Six of these industry codes were registered in 2023, and they apply to the following sections of the online industry: social media services, app distribution services, hosting services, internet carriage services, equipment providers and search engine services. The other two codes were not registered because the Commissioner was not satisfied that they provided appropriate community safeguards. As a result, the Commissioner developed and registered the RES Standard and DIS Standard.

    Development of the phase 2 industry codes have been underway since July 2024, with public consultation concluding on 22 November 2024. These codes are intended to deal with class 1C and class 2 materials, which includes online pornography and other high-impact material.

    Phase 1 Standards

    The Phase 1 Standards apply to two sections of the online industry—providers of RESs and DISs

    RES DIS

    A service that enables end-users in Australia to communicate with other end-users by:

    • email
    • instant messaging
    • SMS
    • MMS
    • chat services

    as well as:

    • services that enable end-users to play online games with each other; and
    • online dating services.

    Note: A service that meets the definition of a RES will be required to comply with the RES Standard, regardless of whether it also meets the definition of another industry section.5

    A service that:

    • allows end-users in Australia to access material using internet carriage services; or
    • delivers material to persons who have the appropriate equipment for receiving that material via an internet carriage service.

    Note: This is a very broad category that includes many apps and websites, as well as file and photo storage services, and some services that deploy or distribute generative artificial intelligence models.6 A DIS is expressly not:

    • a social media service;
    • a RES;
    • an on-demand program service; or
    • other specified and exempt services.7

    A service that meets the definition of a DIS will be required to comply with the DIS Standard, unless the service’s predominant purpose is more closely aligned with another industry code or industry standard.8

    The RES Standard and DIS Standard classifies certain service providers as ‘pre-assessed’ or ‘defined’ categories. A service provider that falls within either the pre-assessed or defined categories is not required to conduct its own risk assessment. Instead, it is deemed to either fall within a particular risk tier, or it has a unique risk profile such that no specific risk tier is attributed to it.

    Service providers that are not captured in the table below must conduct their own risk assessment or default to assigning the service a Tier 1 risk profile.9

    RES Standard DIS Standard

    Pre-assessed category:

    • Communication relevant electronic service
    • Gaming service with communication functionality
    • Dating service

    Pre-assessed category:

    • High impact DIS
    • Classified DIS
    • General purpose DIS
    • Enterprise DIS

    Defined category:

    • Telephony RES
    • Enterprise RES
    • Gaming service with limited communication functionality

    Defined category:

    • End-user managed hosting service
    • High impact generative AI DIS
    • Model distribution platform

    The risk assessment must be undertaken by a person with the relevant skills, experience and expertise to carry it out.10  

    The Phase 1 Standards require certain matters to be taken into account, so far as they are relevant to the service, to determine the overall risk tier for it.11 These are summarised below. Depending on the nature of a service and the context it operates in, service providers are likely to have additional risk factors to consider beyond the ones below.

    Applicability to RES or DIS Matters to be taken into account for risk assessment
    Both RES and DIS
    • Predominant purpose of the service
    • Functionality of the service12
    • Extent to which material posted on, generated by or distributed using the service will be available to end-users of the service in Australia
    • Terms of use for the service
    • Terms of arrangements under which the provider acquires content to be made available on the service
    • Ages of end-users and likely end-users of the service
    • Outcomes of the forward-looking analysis conducted under section 8(4) of the RES Standard and DIS Standard
    • Safety by design guidance and tools published or made available by a government agency or a foreign or international body
    • Risk to the online safety of end-users in Australia in relation to material generated by artificial intelligence.
    DIS only
    • Manner in which material is created or contributed to in connection with the service
    • Whether the service includes chat, messaging or other communications functionality
    • Risk that any generative AI features of the service will be used to generate high-impact materials
    • Design features and controls deployed to mitigate the risks related to material generated by AI and high-impact materials generated by generative AI features of the service

    Obligations that flow from risk assessment

    The Phase 1 Standards impose a range of obligations depending on the service provider’s risk tier arising from the risk assessment (ie Tier 1, Tier 2 or Tier 3), or the type of service it is pre-assessed or defined to be if it has a unique risk profile (eg Telephony RES, High impact generative AI DIS or dating service).

    A high-level summary of the obligations that may be applicable to certain RESs and DISs include:

    • Implement, enforce and publish relevant terms of use.
    • Ensure that there are systems in place to address circumstances where there is a breach of terms in respect of class 1A and class 1B material, including processes to report such material to an enforcement authority if it represents a serious and immediate threat to a person in Australia.
    • Implement a system for disrupting access and distribution of class 1A materials through the RES or DIS.
    • Implement a system to detect and remove class 1A materials that is accessible through the RES or DIS.
    • Implement reporting arrangements to ensure compliance with the Phase 1 Standards.
    • Ensure that features and settings that would minimise the risk of class 1A or class 1B material are incorporated before material changes are made to the service.
    • Ensure end-users can effectively control associated communication functions.
    • Implement policies, procedures and mechanisms to report or make complaints, and to respond to complaints.
    • Notify the Commissioner of proposed changes to the features and functions of the service, unless the change will not significantly increase the relevant risk.
    • Cooperate with and report to the Commissioner as required.

    What’s next?

    The Commissioner has stated that no enforcement action will be taken in the first six months of the Phase 1 Standards coming into effect, apart from in exceptional circumstances—eg in response to serious or deliberate non-compliance. The initial focus will be on working with industry bodies and service providers to raise awareness of their obligations under the Phase 1 Standards.13

    The Commissioner has a range of enforcement options under the Act to address non-compliance with the Phase 1 Standards. These include:

    • a formal warning
    • an enforceable undertaking
    • an injunction
    • an infringement notice
    • civil penalty proceedings or a court order requiring a service provider to cease its service.

    Notably, failure to comply with the Phase 1 Standards may, currently, result in a penalty of up to $49.5 million.14 Service providers should promptly take proactive measures to ensure they are complying with their obligations under the Phase 1 Standards (including conducting a risk assessment if necessary) to avoid enforcement action by the Commissioner, which may commence from 22 June 2025.

    Service providers should also be aware that new regulation of the access and exposure to class 1C and class 2 material is forthcoming. The Commissioner will undertake an assessment of whether the draft phase 2 industry codes meet the statutory requirements when they are submitted for registration, which must be no later than 28 February 2025.

    Review of Online Safety Act

    On 4 February 2025, the Government tabled the statutory review of the Online Safety Act (the Report). This independent review was initially delivered to the Government in October 2024 and makes 67 recommendations aimed at strengthening Australia’s online safety framework.

    Key recommendations in the Report include:

    • Legislating a statutory digital duty of care that is intended to place the onus on digital platforms to prevent online harms.
    • Raising the civil penalties for breaches of the Act (ie the maximum penalty to be increased to the greater of 5% of global annual turnover or $50 million).
    • Empowering the Commissioner with stronger investigative, information-gathering and enforcement powers, such as the power to require certain providers of online service to undertake compliance audits at their own expense.
    • Requiring providers of services with the greatest reach or risk to provide an annual transparency report and publish a summarised version on its website.

    There is currently no proposed legislation (or timetable for legislation) to implement the recommendations, but the Government has said it will continue to carefully consider all recommendations put forward in the Report and respond in due course. With the federal election looming, the Government’s (and Opposition’s) response to online safety reform is a key area to watch.

    MIL OSI News

  • MIL-OSI United Nations: UNFPA Appoints Shudu Musida as Global Champion for Women and Girls

    Source: United Nations Population Fund

    New York – UNFPA, the United Nations sexual and reproductive health agency, is proud to announce Shudufhadzo (known as Shudu) Musida as our Global Champion for Women and Girls. 

    Her first act in this role is to help observe the International Day of Zero Tolerance for Female Genital Mutilation by launching a UNFPA campaign entitled Patterns of Hope – inside the movement to end female genital mutilation, which focuses on ending the harmful practice endured by more than 200 million women and girls worldwide. 

    Ms. Musida previously served as UNFPA’s first-ever Regional Champion for East and Southern Africa, where she advocated for women and girls’ sexual and reproductive health. Crowned as Miss South Africa in 2020, she has since leveraged her platform to mobilize awareness and action on gender equity and mental health, notably via her Mindful Mondays programme, which reached over 1 million weekly viewers. Her unwavering commitment and impact have been invaluable for UNFPA.

    “I am incredibly honoured to continue advancing UNFPA’s mandate, especially as it faces concerted opposition around the world,” said Ms. Musida. “I’m committed to raising awareness and advocating for the rights of women and girls everywhere.”

    Hailing from a village in Limpopo Province, South Africa, Ms. Musida’s upbringing instilled a deep understanding of the injustices faced by women and girls worldwide. She is currently bringing these experiences to the Ivy League through her enrolment in Columbia University’s School of International and Public Affairs, where she is pursuing a master’s degree. And as UNFPA’s Global Champion, she will continue advocating for an intersectional approach to well-being, addressing mental health, improving sexual and reproductive health, and ending gender-based violence. 

    “We are thrilled to welcome Shudu to the UNFPA global team,” said Ian McFarlane, Director of UNFPA’s Division for External Relations. “Her energy, passion and commitment are inspiring. Working through partnerships we can achieve so much more than we would by working alone.”

    Her two-year appointment will contribute to UNFPA’s mission to achieve sexual and reproductive health and rights for all by 2030. 

    • To visit UNFPA’s “Patterns of Hope – inside the movement to end female genital mutilation” campaign, click here 
    • For more information or interview requests, please contact: Eddie Wright: ewright@unfpa.org; Tel:  +1 917 831 2074

    MIL OSI United Nations News

  • MIL-OSI USA: Tuberville Thanks President Trump for Signing Executive Order Protecting Women’s Sports, Urges Senate to Bring Protection of Women and Girls in Sports Act to the Floor for a Vote

    US Senate News:

    Source: United States Senator for Alabama Tommy Tuberville

    WASHINGTON – Today, U.S. Senator Tommy Tuberville (R-AL) celebrated National Girls and Women in Sports Day by participating in several events and interviews to promote his bill, the Protection of Women and Girls in Sports Act. Sen. Tuberville reintroduced his hallmark Title IX legislation—which is cosponsored by 37 of his colleagues—in the Senate last month. Companion legislation passed the House on a bipartisan basis in January. 

    Sen. Tuberville also praised President Trump for his leadership in signing an Executive Order today to protect women’s sports and restore Title IX protections for women and girls everywhere. While Senator Tuberville is grateful for President Trump’s commonsense leadership, he insists Congress has to pass his bill to ensure Title IX protections are made permanent. Sen. Tuberville discussed this earlier this week on “The Megyn Kelly Show” when he said, “A lot of people don’t realize that an Executive Order […] only lasts as long as that president’s there. So, we got some work to do. […] As you said—we’ve got to get it to the floor. John Thune told me he’s going to get it to the floor. […] If it’s not going to pass, we’ll do it again, but we’ve got to get people on the record because this is something that’s very dear to the heart of all parents across the country—and it’s dead wrong.”

    When White House Press Secretary Karoline Leavitt was asked about this earlier today, she said, “It’s incredibly important that Congress immediately act on this priority. I think the President is really setting the tone—making this an immediate priority for this administration, just as he promised to do on the campaign trail.”

    Sen. Tuberville also commemorated National Girls and Women in Sports Day by reintroducing the Protection of Women in Olympic and Amateur Sports Act to prohibit any governing body recognized by the U.S. Olympic Committee (USOC) from allowing men to participate in any women’s Olympic athletic events.

    Tuberville Joins “The Faulkner Focus”

    Sen. Tuberville joined Harris Faulkner on “The Faulkner Focus” to discuss the latest with the Protection of Women and Girls in Sports Act, as well as his efforts to protect women’s Olympic sports.

    Read an excerpt from the interview below or watch here.

    FAULKNER: “This Executive Order that Trump is getting ready to put in play comes as today we recognize National Girls and Women in Sports Day. Also on this day, Senator, you are reintroducing that bill called the Protection of Women in Olympic and Amateur Sports Act. This is an effort to ensure that Trump’s protections are permanent. Tell us about it, Senator.”

    TUBERVILLE: “Exactly, and you know I started coaching 40 years ago—right when Title IX started. And, Harris, let me tell you something. This is the best thing that this place has ever done. It gave young girls and women a different opportunity to build on leadership and have a future. And, so, this past four years—gender has been under attack. Parents have been under attack. Education has been under attack, and it all goes back to trying to not define what a woman is, and they can’t even define that. They’re telling us right now that men can have babies. So, at the end of the day, I’m giving a speech on the floor today. Leader Thune has promised he’s gonna put this bill on the floor sooner or later. This is my third time that I’ve had this up for a vote. The Democrats don’t want anything to do with it, but I gotta feeling a lot of them are gonna change their mind. And then at three o’clock, President Trump’s going to sign the Executive Order. But as you said, if when he goes out of office, if we don’t get a Republican back in there, this will change back into the gender nonsense that these Democrats have been pushing for the last four years. We have to protect women and girls in sports. And we also have to protect women and girls in Olympic sports because we have the Olympics coming here soon. And if we don’t do that, we’re gonna see men boxing against women like we did this past summer.”

    Tuberville Speaks on Senate Floor

    Senator Tuberville also delivered a floor speech where he called out Democrats’ out-of-touch, woke ideology that says men can get pregnant and boys should compete in women’s sports.

    Read excerpts from the speech below or watch the full speech here.

    “I’m here to call for a vote on my legislation, S.9, the Protection of Women and Girls in Sports Act, that would save Title IX and save women’s sports. Today is National Girls and Women in Sports Day—that’s today. To celebrate, President Trump will sign an Executive Order this afternoon in the White House ending Democrats’ intentional destruction of Title IX and saving women’s sports.

    I’m very thankful for his leadership on this. President Trump’s Executive Order will make sure women’s sports are protected for at least the next four years. But unfortunately, Executive Orders can be reversed. Congress needs to act on this to make sure the next Democrat administration, whenever it is, can’t take the same steps to destroy Title IX that the Biden administration took. For the past four years, the Biden administration waged an all-out assault on gender. Since the beginning of time, people have agreed that sex is assigned at birth and determined by God. But under the Biden administration, you had people claiming that men can get pregnant. Here on this floor, I heard that. Pure insanity.

    But it didn’t stop there. They weren’t content to just erase gender norms that have been accepted for thousands and thousands of years. No. They wanted to allow transgender men to participate against women and girls in sports. This has been happening at schools all across the country. Young women have been forced to compete against men and even share locker rooms and showers. And on top of that, your taxpayer dollars are paying for this nonsense. Over the past several years under the Joe Biden administration, 900 women’s medals have gone to men. 900. That is absolutely wrong.

    This one is personal for me. My first coaching job was in women’s basketball—years ago. Title IX was just starting to be implemented when I took that first job. I saw firsthand the immediate difference it made. Before Title IX, at a lot of schools, college women’s athletics didn’t really exist. Back then, there were more than 10x as many male athletes in college as female athletes. After Title IX, that quickly changed. For the first time, the young women I coached had equal access to facilities, resources, and competition. I saw these hardworking young women go on to earn college scholarships, start careers, and become leaders of our country. I still keep in touch with many of these young women today, and I’m deeply proud of them.

    Looking back on it now, I wonder if they would have had the same opportunities without Title IX. Would they have had the same successes if they had had to compete against males 40 years ago? This really shouldn’t be controversial. It’s just common sense. A recent poll from the New York Times of all publications showed 79% of all Americans believe men should not compete in women’s sports. 79%.

    President Trump campaigned largely on this issue. If you remember, his campaign spent nearly $20 million dollars on TV ads about the importance of keeping men out of women’s sports. So, on November 5, 2024 the American people didn’t just elect President Trump. They also decisively rejected this ridiculous notion that men can get pregnant and boys should compete against women in sports. Ridiculous. And they definitely didn’t want their tax dollars funding schools that allow boys to share locker rooms with girls.

    My bill would prevent a school from receiving any federal funding if they let boys compete in women’s sports. It also defines gender [as] male and female for this purpose. I was glad to see President Trump sign an Executive Order defining gender during his first few days in office. The President also made it clear in the Executive Order that he wants Congress to take action on this as well because he understands it can go away with the sign [of] an ink pen. 

    That’s why today I’m also reintroducing a bill to prohibit men from competing in women’s Olympic sports because men competing against women at any level is dangerous. We are all deeply disturbed—all of us were deeply disturbed this past summer to see videos of boys and men boxing against women. You know, when I was growing up, we were taught never to hit a girl, but I guess that’s over now because of the Democrats. One study found out that males can punch up to 162% harder than females. Somebody is going to get killed or seriously injured if we don’t stop this absolute nonsense. It’s unsafe, it’s unfair, and it’s just plain wrong.

    The Protection of Women in Olympic and Amateur Sports Act will make sure men aren’t allowed to compete against women in any sport, but especially not in a violent sport like boxing. This bill will restore fairness for the American women who train their whole lives to represent our country on the world stage. Their entire lives, they train. I know we’re all looking forward to the United States hosting the Summer Olympics in 2028 in Los Angeles. I hope our bill [has] been passed and signed in law long before that so we can all enjoy some healthy, safe women-against-women or men-against-men competition during those Olympics.

    But this huge issue goes way beyond politics. I’ve heard from parents, student, teachers, and coaches all over the country about this. These are people who have personally seen the benefits of Title IX and are very concerned about Democrats’ attempts to take these opportunities away from women and girls.

    There are countless stories of girls who have benefited from Title IX in my state of Alabama.

    This includes athletes like Rachel Argent of Thorsby High School in Chilton County, Alabama. Rachel’s athletic ability and good grades drew the attention of college coaches across Alabama. […] Because of her talent and work ethic, Rachel received basketball scholarships to Faulkner State Community College in Bay Minette, Alabama. After [getting] her degree, she got a softball scholarship at Samford University. That scholarship […] put her on the right direction. […] She didn’t have to worry about landing a full-time job while she went to school and participated in sports. […]

    After college, Rachel returned to Thorsby High School as a teacher and a coach. She wanted to give back to the school what she had gotten from Title IX. She taught Health and Physical Education for grades kindergarten to twelve. She coached girls’ softball, basketball, track, and volleyball. She made an impact on hundreds of girls across our state of Alabama. It was all made possible again by Title IX.

    Rachel’s daughter, Addie, played softball, tennis, golf, and basketball at Chilton County High School. She got a gold scholarship to the University of Mobile where she graduated with a degree in Nursing. Her athletics scholarship was part of her getting a degree and becoming a nurse. There are countless other young women like Addie and Rachel across Alabama and every other state across the country. More than 50,000 young women in Alabama alone competed in high school sports this past year, 50,000. Every single one of them deserves the full benefit of fair competition. 

    And I’m grateful that every member of the Senate Republican leadership is a cosponsor of my Protection of Women and Girls in Sports Act. They’ve been very supportive. Leader Thune is a proud cosponsor of my bill, and I’m glad to have his support. Leader Thune is committed to scheduling a vote on this bill and putting every Democrat on the record on whether or not they support men competing in women’s sports. We brought this bill to the floor for a vote during the last Congress. Really, we brought it twice, and every single Democrat always voted against it. What does that tell you?

    Leader Thune has not rescheduled it for a vote yet this congress. Right now, we’ve obviously got a lot of things to do with [confirming] President Trump’s cabinet. Then we get started on the reconciliation process and getting the American economy jumpstarted again. We have a lot to accomplish in the first 100 days of the Trump administration, and I hope this bill is part of that 100 days.

    President Trump will sign an Executive Order again today banning men from competing in women’s sports. Let’s lock that commitment in. Let’s lock it in for young girls and women all across this country. Let’s bring this bill to the floor for a vote very soon so the Senate can send it to the President’s desk and make this permanent.

    To my Senate colleagues who are on the fence about this, I would ask—do you have daughters? Do you have granddaughters? Do you have nieces? Would you want them competing against men in sports? Would you feel comfortable with them sharing a locker room with a biological male?

    I’m excited to welcome my first granddaughter in a couple weeks, Rosie Grace. I would raise hell if she was forced to compete, dress, or use the same showers as men. And American taxpayers should not be forced to foot the bill for any schools that are allowing this to happen. The days of woke, swamp politicians running our government are over. Common sense has been restored to the White House, and Congress needs to get back to work and let President Trump work on this bill. 

    This isn’t about politics. This is about right and wrong. The American people have delivered a verdict. They want men out of women’s sports and women’s locker rooms.

    President Trump is 100% with us on this. The time to act is now. It’s time to restore Title IX protections and save women’s sports.”

    Tuberville Attends White House Executive Order Signing

    Sen. Tuberville went to the White House for President Trump’s signing of an Executive Order restoring Title IX protections for women and girls everywhere. During his speech, President Trump shouted out Sen. Tuberville for all of the work he has done to champion women’s sports in Congress and throughout his coaching career.

    The President also shouted out 3x Superbowl Champion Patrick Mahomes, whom Coach Tuberville recruited when he was at Texas Tech University.

    “And Tommy Tuberville [is here], a great coach,” said President Trump. “You know, his quarterback was named ‘Mahomes.’ He was a great college coach and I said ‘How good was he?’ and he said, ‘You don’t wanna know how good—he made me into a great coach.’”

    Tuberville Joins Kudlow from White House

    Following the Executive Order signing, Sen. Tuberville joined “Kudlow” on Fox Business live from Pebble Beach at the White House.

    Read excerpts from the interview below or watch here.

    KUDLOW: “No more biological men in women’s sports. Wow. Big signing today by President Trump. Joining us now to talk about it is Alabama Senator, Tommy Tuberville. Senator Tuberville, good to see you, sir. Tell us about the signing. Tell us what was in the signing, if you would.”

    TUBERVILLE: “Well, it’s been too long happening, Larry. It’s just unfortunate—for the last four years we’ve had to put up with this nonsense of biological boys and men participating in women’s sports. Not just in sports here, but also in the Olympics. It was a great day. Had a lot of people there [for the] Executive Order putting a stop to it, but we’ve gotta permanently do it. I’ve got a bill that’s the Protection of Women and Girls in Sports Act that we’ve got. Hopefully, we get it on the floor soon where we can make it permanent. There’s no reason in the world why men and boys should be able to participate in women’s [sports]. It’s just wrong, it’s dangerous. And, you know, it’s just a great day that we finally got this done.”

    KUDLOW: “Senator Tuberville, you mentioned the Olympics. So, good question—how will the Olympic Committee look at this resolution? Will they abide by it? Will they fight it? What do you anticipate, sir?”

    TUBERVILLE: “Well, you got to remember, Larry. This is gonna be in L.A. the next time they have it. President Trump mentioned that. The Olympic Committee, two years ago, decided to let each sport decide what they wanted to do and how they wanted to handle it. Unfortunately, boxing let men participate against the women and it was terrible—it really was. Somebody’s gonna get hurt. And so, hopefully, they come to their senses. President Trump will probably get involved in this—with the Olympic Committee, knowing him. And hopefully, we can get all men and boys banned from any kind of [women’s] sports in the Olympics. It’s just not fair.”

    KUDLOW: “You know, it’s so ironic to me, Senator, politically. For all these years, going back to, I’m gonna say, Gloria Steinem in the 1970s—over 50 years. The Democratic Party said it was the party to defend women. Okay? But in recent years, as you well know, with the trans movement and so forth and biological men now being allowed to play in women’s sports, etcetera, etcetera. All of a sudden, the Democrats are in favor of that and are wrecking women’s sports and treating women athletes, female athletes incredibly unjustly? I mean, how do you figure that? Do they see the stupidity of this whole story or not?”

    TUBERVILLE: “Yeah. They see it. They just won’t admit it. The problem they have, Larry, is they’ve lost the middle class. They have no support anymore. […] They’ve lost their base. They’re not going back. They’ve really gotten so far out there, Larry. You know, even the Democrats [think men shouldn’t compete in women’s sports]. A lot of Democrats voted for President Trump because of this one issue that the Democrats kept pushing.”

    Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP, and Aging Committees.

    MIL OSI USA News

  • MIL-OSI China: VAT invoice data reflects robust consumption

    Source: China State Council Information Office

    China’s State Taxation Administration released value-added tax (VAT) invoice data on Wednesday, revealing strong consumer spending during the Spring Festival holiday.

    The eight-day holiday, which ended on Tuesday, saw the average daily sales revenues of consumer-related industries increase 10.8 percent from last year’s Spring Festival.

    Goods consumption grew 9.9 percent year on year, and services consumption saw a 12.3 percent rise, according to the data.

    Strong participation in China’s policy-backed consumer goods trade-in program boosted holiday market consumer sentiment.

    Household appliance and audiovisual equipment sales revenues surged 166.4 percent from last year’s holiday figure, and sales of communication devices jumped 181.9 percent.

    Since last year, “trade-in” has been a buzzword in China’s consumer market, driving retail sales growth steadily.

    The holiday saw a tourism market boom, with sales revenues from tourism-related services increasing 37.5 percent.

    Homestay businesses flourished during the period, attracting tourists with personalized lodging experiences marked by local cultural characteristics. Their sales revenues increased 12.6 percent compared to the Spring Festival holiday last year.

    Demand for sports entertainment and fitness services remained strong, with sports venues reporting a 135 percent increase in sales revenues and fitness services seeing a 224.1 percent revenue rise.

    Department store retail sales increased 5.2 percent, and convenience store sales grew 16.1 percent, according to the data.

    The vibrant holiday market has boosted confidence in the Chinese economy, setting a positive tone for the rest of the year, said Chen Lifen, a researcher at the Development Research Center of the State Council.

    MIL OSI China News

  • MIL-OSI USA: Durbin Joins Senate Democrats To Speak Out Against Russell Vought’s Nomination To Lead OMB

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin

    February 05, 2025

    Durbin: Placing Mr. Vought in charge of OMB would be irresponsible

    WASHINGTON  U.S. Senate Democratic Whip Dick Durbin (D-IL) today joined Senate Democrats in speaking out against President Trump’s nominee to lead the Office of Management and Budget (OMB), Russell Vought. In a speech on the Senate floor, Durbin outlined why Mr. Vought is unfit for the job, including his actions as Director of OMB during the first Trump administration and his part in crafting Project 2025— a policy proposal written by a conservative think tank outlining a sweeping, extreme vision forAmerica.

    “Mr. Vought has been nominated by President Trump to run this agency… its job is to oversee federal agencies and administer the federal budget. Most of the time, when we are called on to evaluate nominations, we do our best to take a look and review the nominee’s qualifications and experience,” Durbin said. “But for Mr. Vought, there is no need for imagination. He already has served as Director of OMB during the last half of President Trump’s first term in office, and I believe he proved who he was in that period of time.”

    Durbin continued, “When he served as Director of OMB during President Trump’s first term, Mr. Vought illegally refused to release hundreds of millions of dollars in security assistance to Ukraine and delayed $20 billion in disaster aid for Puerto Rico… And when he left that role, Mr. Vought went on to become a key architect of ‘Project 2025’—a policy proposal written by a conservative a think tank outlining a sweeping, extreme vision for America’s future. Project 2025 included policies to consolidate power in the executive branch and undermine critical services that the federal government provides to the American families.”

    During his speech, Durbin also slammed the Trump Administration for their decision to issue an OMB memo last week to “temporarily pause all activities related to obligation or disbursement” of trillions of dollars of Federal financial assistance, which caused mass confusion about the funding and operations of hundreds of government-funded programs ranging from Medicaid, to Head Start, to Violence Against Women Act grants.

    Shortly before the federal funding freeze was set to begin, U.S. District Court Judge Loren L. Alikhan, who was confirmed under Durbin’s tenure as Chair of the Senate Judiciary Committee, temporarily blocked the move by the Trump Administration. Another judge issued a temporary restraining order blocking President Trump’s measure. The Trump Administration rescinded the memo but claimed that the federal funding freeze would still take place. 

    “This latest attempt to put a sweeping freeze on federal funds is far from the first time Mr. Vought has broken the law and undermined Congress’s power of the purse that is set forth in the Constitution. It is clear from Mr. Vought’s comments and actions that he has contempt for Congress as a co-equal branch of government,” Durbin said. “It is appalling that so many of my Republican Senate friends voted to advance his nomination as he actively attempts to strip Congress of our Congressional authorities.”

    Durbin continued, “We [Democrats] are not opposing Mr. Vought solely because he poses a threat to our ability to do our jobs in Congress. Mr. Vought has made it clear that he is targeting working families across the country. Both in his previous tenure as OMB Director and in policy proposals, Mr. Vought has proposed budget cuts that slash the social safety net for resources for tax cuts for the wealthy.”

    Durbin concluded, “To my Republican colleagues—for the sake of the institution in which we work, the constituents we were elected to serve, and the constitutional foundations of our nation, please don’t vote for Mr. Vought. Maya Angelou once said: ‘When someone shows you who they are…believe them the first time.’ Well, from his tenure running OMB to his authorship of Project 2025, Mr. Vought has shown us exactly who he is and what he believes. He is a man with little respect for the Constitution and limited understanding of the plight of real working Americans. Giving Mr. Vought the reins of OMB is an invitation to a policy battle at the expense of our Constitution.”

    Video of Durbin’s remarks on the Senate floor is available here.

    Audio of Durbin’s remarks on the Senate floor is available here.

    Footage of Durbin’s remarks on the Senate floor is available here for TV Stations.

    -30-

    MIL OSI USA News

  • MIL-OSI China: Highly anticipated series highlights themes of sisterhood

    Source: China State Council Information Office 3

    Six Sisters, a highly anticipated TV series, topped the country’s daily ratings on Wednesday, according to industry tracker Beacon.

    The drama, adapted from writer Yi Bei’s 2018 novel of the same name, follows the story of the He family, focusing on He Changsheng and his wife Liu Meixin as they navigate the challenges of raising six daughters.

    After the father dies in a car crash, He Jiali, the oldest daughter, shoulders the burden of raising the large family with her mother and grandmother by taking care of her five younger sisters, helping them to establish their own families and secure jobs.

    Starring actress Mei Ting as the oldest daughter and actor Lu Yi as her husband, the drama debuted on China Central Television’s CCTV-1 and simultaneously streamed on Tencent Video on Feb 3.

    The series, which also stars actresses Vivian Wu and Xi Meijuan as the mother and grandmother, was filmed in Huainan in East China’s Anhui province, capturing some time-honored locations, including Huaishang Dock, Beitou Food Market Street and Huainan Normal University.

    Set in the city, the drama incorporates many local elements ranging from customs to food. For example, satang, a type of rice porridge made with broth, appears in multiple scenes as the mother’s favorite dish.

    Yang Xiaopei, the chief producer and art director of the drama, said that each character has their own story and these tales intertwine to become an indispensable source of strength in each other’s lives. She hopes the project conveys a sense of warmth and strength to audiences.

    Yi, who also serves as the scriptwriter, shared that he employed a comedic narrative style, hoping that the story reflects the societal changes over four decades through the perspectives of ordinary people living in a small city.

    “The stories of the six sisters revolve around universal themes such as birth, aging, illness, death, love, and marriage. However, when placed against a specific backdrop, they take on a unique theme,” Yi added.

    MIL OSI China News

  • MIL-Evening Report: ‘Do I have to get it in writing?’ Even with compulsory lessons, some teens are confused about how consent works

    Source: The Conversation (Au and NZ) – By Giselle Woodley, Researcher and PhD Candidate, School of Arts and Humanities, Edith Cowan University

    Tirachard Kumtanom/Pexels, CC BY

    Consent education has been mandatory in Australian schools since 2023.

    Amid growing public understanding we need to reduce sexual violence and teach young people about healthy relationships, consent is now part of the national curriculum until Year 10.

    But is this education working?

    Our research with teens suggest some young people are not coming away with an adequate understanding of consent or how to use it in their relationships.

    What is consent education supposed to involve?

    Before 2023, consent was taught at the discretion of each school as part of relationships and sexuality education classes. The Morrison government announced age-appropriate consent lessons in 2022, to start in the first year of school.

    The aim is to teach students about the importance of consent, ensuring they understand it is an ongoing agreement between individuals. This means consent needs to be actively sought and freely given.

    It is still largely up to individual schools to work out how they teach the material.

    Consent education is now a compulsory part of Australia’s National Curriculum.
    Wendy Wei/Pexels, CC BY



    Read more:
    Wondering how to teach your kids about consent? Here’s an age-based guide to get you started


    Our research

    This research is part of a broader study of young people’s perceptions of online sexual content and experiences of relationships and sexuality education.

    For our research, we have spoken to 46 Australian teens (aged 11-17) through a mix of interviews and focus groups. The interviews were done between 2021-2023 and the focus groups were held in December 2023.

    As part of this, we asked interviewees what they learned about consent at school. The comments in this article were made after consent education became compulsory.

    ‘Nothing’ about how to speak to peers

    While some young people told us their schools had over-emphasised consent – “like they’ve gone through everything” – other interviewees found the lessons difficult to apply in their lives. As one focus group participant (in a group of mixed genders, aged 14-16) explained:

    [Young people are] taught in a basic stereotypical movie way like ‘no’, ‘stop that’, but they don’t actually teach, like, real-life situations.

    Lauren* (14) added young people were only taught “if you didn’t want to have sex, then just say no”. As she explained, teens need more practical advice on how to respond to potential partners. This includes:

    more focus on examples of other people asking for sex and what [to] do if you were asked to have sex with someone [or] on how to say ‘no’.

    Another participant (from a focus group of mixed-genders, aged 14-16) noted how saying “no” was more complex than what school lessons suggested and teens could be taught how to advocate for themselves:

    Especially for non-confrontational people ‘cause my friend, [a] creepy guy was being really weird to her, and she wouldn’t say anything about it ‘cause she’s so nice and other people had to step up for her because she wouldn’t tell him that she didn’t want it.

    Interviewees said they wanted more advice on how to handle real-life situations around consent.
    ArtHouse Studio/Pexels, CC BY

    ‘We don’t want to get in trouble’

    Interviewees told us how consent is often discussed within the context of unwanted sex and sexual assault, or as Tiffany (15) explained “all the negative things”. This may contribute to fears about sexual activity.

    Young people also saw consent as a means to avoid “getting into trouble”, rather than checking the comfort and willingness of their sexual partners.
    As Warren (17) told us:

    My friend group that I hang out with, we’re very big on consent. That’s because we’ve heard of cases where people might not have got consent, then they’ve got in trouble because of it […] we don’t want to get in trouble for doing the wrong thing […]

    In response to discussions about affirmative consent laws, and the need to demonstrate consent has been sought and given, Warren continued:

    I don’t know how I’d go about getting it every time, like, if I just invited a girl over [do] I have to get it in writing or something?

    He added he and his friends were thinking about having partners sign a form during their end-of-school celebrations:

    if we bring girls back, we want them to sign a consent form or something like that. That’s an idea we had.

    There are several issues with teens thinking they need a written form for sex. Not only is it transactional and impractical, it could create an idea someone is not “allowed” to withdraw consent at any time. It also presents consent as a simple box-ticking exercise for “yes” or “no”, when it should be based on mutual respect and care, as part of an evolving discussion.

    Going beyond consent

    We only interviewed a modest sample of students from Perth. But our study feeds into other research suggesting “consent” in itself may not stop or prevent sexual violence. That is, even if one partner says “yes” it does not mean the sex is free from coercion or is pleasurable.

    Other Australian studies have found young people can demonstrate high levels of knowledge about consent but may not know how to apply it.

    This suggests young people need more skills and knowledge than simply being told to “seek consent” – a low bar for ethical sex. Consent education also needs to explore communication skills, self-confidence, pleasure, love and relationship dynamics: all topics teens tell us they want to learn about.

    This should not be taken as a criticism of passionate, hardworking teachers and schools. But it suggests they need more support and training to provide consent education in ways young people can actually use.

    *names have been changed.

    Imogen Senior from Body Safety Australia, Gracie Cayley from the Kids Research Institute, Associate Professor Debra Dudek and Dr Harrison W. See from Edith Cowan University contributed to the research on which this article is based.

    This study was funded by the Australian Research Council (ARC) Discovery Project Adolescents’ perceptions of harm from accessing online sexual content (DP 190102435). Primary funding was received from the ARC. The focus groups, were part-funded by Edith Cowan University’s School of Arts and Humanities: School research investment fund as part of the Love Studies’ Teenagers, Consent, and Sex Education project. Giselle Woodley is a member of Bloom-Ed, a relationships and sexuality education advocacy group, whose views are not expressed here. Giselle is also an expert advisor for ‘On your terms’ a consent study run by the Australian Human Rights Commission and funded by the Commonwealth Department of Education.

    Lelia Green is part of the Australian Research Council’s Discovery Project funding scheme (project DP190102435). The views expressed here are those of the authors and not necessarily of the Australian government or the ARC.

    ref. ‘Do I have to get it in writing?’ Even with compulsory lessons, some teens are confused about how consent works – https://theconversation.com/do-i-have-to-get-it-in-writing-even-with-compulsory-lessons-some-teens-are-confused-about-how-consent-works-248771

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI China: China sees surging culture, tourism market during 2025 Spring Festival holiday

    Source: China State Council Information Office 3

    Posters for six Spring Festival blockbusters. [Images provided to China.org.cn]

    China witnessed a remarkable surge in its culture and tourism market during the eight-day Spring Festival holiday, which ended on Tuesday, with several market segments climbing to all-time highs.

    The Spring Festival, traditionally a peak and lucrative period for cinemas, saw record box office revenue and audience turnout highs this year, according to the China Film Administration on Wednesday.

    Based on the statistics up to 2 p.m. on Wednesday, box office revenues totaled a staggering 10 billion yuan (approximately 1.39 billion U.S. dollars) between Jan. 28 and Feb. 4, according to ticketing app Beacon.

    The holiday also saw a significant rise in numbers of moviegoers, with 187 million people packing out theaters in China, the film administration announced.

    Animated feature “Ne Zha 2” has emerged as the undisputed holiday leader, raking in over 5.05 billion yuan as of Wednesday, according to data from Beacon, making it the top-grossing domestic animated feature of all time.

    As ticket sales continue to climb, the sequel could reach a total box office revenue of 6 billion yuan, which would be a record for Chinese film, Beacon projects.

    As China’s most important festival, the Spring Festival features a rich array of traditions and celebrations that mark the end of an old year and the joyful arrival of a new one. In recent years, it has also become a key driver for the tourism sector — both domestically and internationally.

    Fueled by the Spring Festival’s inclusion on the UNESCO list of intangible cultural heritage in December 2024, this year’s holiday saw a booming tourism market.

    According to the Ministry of Culture and Tourism on Wednesday, China saw a record 501 million domestic tourist trips during the 2025 Spring Festival holiday, up 5.9 percent year on year. Tourist spending reached a record high of over 677 billion yuan during the period, a 7 percent year-on-year increase.

    More than 2.3 billion passenger trips were made across all regions in China during the holiday, including 96.26 million railway trips, 2.18 billion road trips, 9.41 million waterway trips and 18.24 million air trips, official data showed on Wednesday.

    China recorded 14.37 million cross-border trips during the Spring Festival holiday, a 6.3 percent increase from the previous year and including 958,000 trips made by foreigners, according to statistics released by the National Immigration Administration on Wednesday. 

    MIL OSI China News

  • MIL-OSI Banking: Samsung Electronics Unveils 6G White Paper and Outlines Direction for AI-Native and Sustainable Communication

    Source: Samsung

    Samsung Electronics has published a 6G white paper titled “AI-Native & Sustainable Communication,” detailing the latest trends in next-generation mobile communication technologies.
     
    Following the first 6G white paper “The Next Hyper-Connected Experience for All.” in July 2020, this white paper covers the latest trends driving 6G standardization and next-generation mobile communications — including evolving market and technology needs, emerging services, key attributes of 6G and enabling technologies.
     
    Samsung aims to integrate the latest AI technology throughout the telecommunication system and improve network quality for a future-oriented and sustainable user experience.
     
    “We are intensifying our 6G research efforts, focusing on AI-enabled communication technologies and sustainable networks,” said Charlie Zhang, Senior Vice President of Advanced Communications Research Center (ACRC), Samsung Research. “As the telecommunication industry accelerates 6G standardization this year, Samsung will develop technologies to align with market demands.”
     

     
     
    Market and Technology Trends Toward 6G
    Mobile data traffic has surged, driven by the proliferation of AI technologies and the rise of streaming services. Now more than ever, there is a pressing need for technological advancements to manage increased data traffic and enhance user experiences in next-generation mobile communications.
     
    Since the introduction of 5G, the telecommunications industry has been particularly focused on optimizing system operations, sustainability and user experiences. Beyond communication performance improvements such as data rates and latency, there is an urgency to reduce operating costs, enhance energy efficiency, expand service coverage and introduce innovative technologies such as AI.
     
     
    Emerging Services
    5G-Advanced will provide further enhanced 5G performance and incorporate AI to support new services and use cases — ultimately becoming the foundation for 6G technology.
     
    In this white paper, some key emerging services such as immersive extended reality (XR), digital twin, massive communication, ubiquitous connectivity and fixed wireless access (FWA) are highlighted.
     

     

    Immersive Extended Reality (XR): Offers truly immersive user experiences by integrating and interacting with the virtual and real worlds, attracting attention across industries such as entertainment, healthcare and science.
     
    Digital Twin: Creates virtual replicas of physical entities — including objects, people, devices and places — using 6G technology to allow remote monitoring, problem detection and control.
     
    Massive Communication: Simultaneously connects numerous sensors, machines, terminals and other devices to networks and supports automation and management of smart cities, homes and factories.
     
    Ubiquitous Connectivity: Expands service areas by extending terrestrial network coverage and interworking between terrestrial and non-terrestrial network components — including satellites and high-altitude platform stations (HAPS).
     
    Fixed Wireless Access (FWA): Allows wireless delivery of broadband services that traditionally required wired connections to become recognized as a key driver of expanding telecommunications businesses.

     
     
    6G Key Attributes
    In the white paper, Samsung highlighted four key attributes crucial to adapting to evolving market demands — AI-native, sustainable network, ubiquitous coverage and secure and resilient network.
     

     

    AI-Native: Incorporates the latest AI technologies into communication functionalities from system design to the development, management and operation of systems for performance improvements.
     
    Sustainable Network: Reduces operational costs and increases user satisfaction by improving the energy efficiency of both networks and terminals.
     
    Ubiquitous Coverage: Decreases capital expenditures (CAPEX) of networks and enhances service quality by expanding communication service areas and strengthening connectivity via interconnecting terrestrial and non-terrestrial networks.
     
    Secure and Resilient Network: Ensures network security, user privacy and resilience for significant advancements in computing capabilities and AI technology for the 2030s.

     
     
    6G Timeline
    With the release of this white paper, Samsung solidifies its leadership in shaping the direction of 6G research and key technologies.
     
    The telecommunications industry and standardization organizations have been researching 6G since 2020. In 2030, the 6G technology standards are expected to be finalized — following candidate technology development, evaluation and consensus-building processes. With the recent timelines from the International Telecommunication Union Radiocommunication Sector (ITU-R)1 and 3rd Generation Partnership Project (3GPP),2 momentum for 6G research and development is expected to intensify.
     
    Samsung will continue to lead global standardization efforts and prepare for the 6G era while incorporating lessons learned from 5G commercialization and adapting to new market requirements.
     
    Last November, Samsung held the Silicon Valley Future Wireless Summit and hosted an in-depth discussion with industry experts on the convergence of telecommunications and AI technologies. The company demonstrated AI-RAN technologies and Proof of Concept (PoC) results, showcasing the possibilities of AI-native technologies and garnering significant interest from major telecommunications operators.
     
     
    1 ITU is the United Nations specialized agency for information and communication technologies with memberships of 193 Member States and more than 1,000 companies, universities, research institutes and international and regional organizations. The ITU’s Radiocommunication Sector (ITU-R) is responsible for regulating and standardizing global radio communication.2 3GPP is dedicated to developing the global unified technical specifications for mobile communications.

    MIL OSI Global Banks

  • MIL-OSI: BerAIs.land: A Million Transactions on Berachain is Facilitated by AI Agents

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Feb. 05, 2025 (GLOBE NEWSWIRE) — BerAIs.land is set to launch in February 2025, backed by Holdstation, a leading name in AI and DeFi, with a proven track record of launching 1,000+ AI Agents on ZKsync.

    The numbers speak for themselves:

    • AIWS went 1000x to $20M, proving the demand for AI Agent adoption.
    • ClipAI scaled to $3.6M, growing 360x, highlighting the appetite for AI-driven content creation.
    • Holdstation’s $2M AI Innovation Program has funded developers, DAOs, and creators, accelerating AI and blockchain adoption—momentum that’s now being brought to BerAIs.land.

    BerAIs.land is pioneering DEFAI (Decentralized Finance AI), a new wave of AI-powered DeFi automation on BeraChain. The platform enables users to create, trade, co-own, and collaborate with Multi-AI Agents—autonomous blockchain-driven entities designed to optimize liquidity, automate trading, and revolutionize financial interactions.

    At BerAIs.land, creating an AI Agent is straightforward. Users can set their preferences, pay a small fee in HOLD, and deploy their AI Agent —no coding required. These agents operate autonomously and interact seamlessly within the ecosystem. Participants also gain access to exclusive rewards and whitelist opportunities, enhancing their engagement within the platform.

    Company of AI – The Autonomous DeFi Revolution

    BerAIs.land introduces the Company of AI, a network of autonomous AI-driven entities designed to function as independent businesses on-chain. These AI-powered companies execute DeFi strategies in real-time, adapting to market conditions and operating without direct human control.

    Unlike traditional protocols, AI Companies collaborate, strategize, and evolve, forming a decentralized system where AI Agents continuously optimize and manage financial structures within the ecosystem.

    “BerAIs.land is not simply putting AI into DeFi, it’s creating an economy where AI agents work together like co-workers, building the future of decentralized finance with intelligence, efficiency, and autonomy,” said a spokesperson for BerAIs.land.

    The All-in-One AI Solution on BeraChain

    BerAIs.land is the biggest unified platform for harnessing AI on Berachain. By combining AI with decentralized infrastructure, it introduces an ecosystem where AI Agents can:

    • Interact Seamlessly: Multi-AI Agents collaborate with each other, improving operational efficiency and creating a highly interconnected AI ecosystem on BeraChain.
    • Deliver Adaptability: AI Agents adapt to specific DeFi challenges like liquidity management with Proof of Liquidity, real-time trading optimizations, and risk mitigation.
    • Scale Dynamically: As more projects and users adopt BerAIs.land, the platform’s modular design allows for rapid scaling and integration, further enhancing its capabilities.

    These elements come together to provide a one-stop solution for AI-driven decentralized finance, giving users a comprehensive toolkit for navigating and optimizing DeFi opportunities.

    Leveraging BeraChain’s Innovation

    BerAIs.land is powered by BeraChain, the rapidly emerging blockchain ecosystem that has captured the market’s attention with over $3 Billion TVL in Boyco pre-market. With BeraChain’s unique Proof of Liquidity (POL) mechanism, BerAIs.land seamlessly integrates AI Agents into a blockchain environment optimized for scalability, efficiency, and user-friendly interactions.

    “BeraChain’s commitment to fostering groundbreaking technologies aligns perfectly with our vision for BerAIs.land. Together, we are redefining what’s possible at the intersection of blockchain and artificial intelligence,” the spokesperson added.

    Unlocking the DEFAI Advantage

    BerAIs.land is designed to empower users by offering:

    • Creation: Design your own AI Agents tailored to specific DeFi tasks.
    • Tokenization: Turn AI Agents into blockchain assets for easy trading.
    • Co-ownership: Share the benefits of AI-powered strategies with others.
    • Automation: Let AI Agents optimize your DeFi activities 24/7.

    With these capabilities, BerAIs.land is set to lower entry barriers and enhance the efficiency of DeFi ecosystems, making advanced financial strategies accessible to users of all experience levels.

    Exclusive Feature for Partners

    BerAIs.land is launching a Liquidity Token Lock for Whitelist Access, a feature designed to empower partners and reward engaged users. By locking liquidity tokens (LP tokens), users can earn exclusive whitelist spots for bonding curve token, fostering deeper collaboration within the ecosystem and driving liquidity for partner projects.

    Example: As part of its integration with BerAIs.land, Holdstation allows users to lock top liquidity tokens paired with BERA, granting them exclusive whitelist access to upcoming Holdstation-affiliated projects.

    This initiative fuels a mutually beneficial cycle—partners gain deeper liquidity, users unlock exclusive rewards, and BerAIs.land strengthens its ecosystem. With 60+ Bera partners already integrated within Holdstation Ecosystem, this partnership paves the way for unprecedented growth and adoption for BerAIs.land on BeraChain.

    Looking Ahead

    While BerAIs.land is currently operational on testnet, the platform is preparing for its full launch on the BeraChain mainnet, anticipated to redefine the DEFAI landscape. Early adopters can already interact with AI Agents, test the platform’s functionality, and position themselves at the forefront of this technological shift.

    About BerAIs.land

    BerAIs.land is an AI-driven platform redefining decentralized finance. By integrating Multi-AI Agents into blockchain ecosystems, BerAIs.land empowers users to seamlessly create, trade, and optimize their DeFi strategies. Built on the innovative infrastructure of BeraChain, BerAIs.land represents the next frontier of Web3 innovation.

    Useful links

    Website | X | Discord | Telegram

    Contact:
    Nam Le
    legal@holdstation.com

    Disclaimer: This content is provided by BerAIs.land. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6ffdabdc-edba-4700-aa31-89be1d4aaf9c

    The MIL Network

  • MIL-OSI USA: Commerce Committee Advances Schatz-Cruz Bipartisan Legislation To Keep Kids Safe, Healthy, Off Social Media

    US Senate News:

    Source: United States Senator for Hawaii Brian Schatz

    Bill Now Moves To Full Senate For Consideration

    WASHINGTON – Today, the U.S. Senate Commerce, Science, and Transportation Committee approved the Kids Off Social Media Act. Authored by U.S. Senators Brian Schatz (D-Hawai‘i), a senior member of the Senate Commerce Committee, Ted Cruz (R-Texas), Chair of the Senate Commerce Committee, Chris Murphy (D-Conn.), and Katie Britt (R-Ala.), the bipartisan legislation will keep kids off social media and help protect them from its harmful impacts. To do that, the bill would set a minimum age of 13 to use social media platforms and prevent social media companies from feeding algorithmically-targeted content to users under the age of 17. In addition to Schatz, Cruz, Murphy, and Britt, the Kids Off Social Media Act is cosponsored by U.S. Senators Peter Welch (D-Vt.), Ted Budd (R-N.C.), John Fetterman (D-Pa.), Angus King (I-Maine), Mark Warner (D-Va.), and John Curtis (R-Utah).

    “There is no good reason for a nine-year-old to be on Instagram or Snapchat. The growing evidence is clear: social media is making kids more depressed, more anxious, and more suicidal. Yet tech companies refuse to anything about it because it would hurt their bottom line. This is an urgent health crisis, and Congress must act with the boldness and urgency it demands,” said Senator Schatz. “Protecting kids online is not a partisan issue, and our bipartisan coalition – which includes several parents of kids and teenagers – represents the millions of parents across the country who’ve long been asking for help.”

    Upon the introduction of the Kids Off Social Media Act, Senator Cruz said, “Every parent I know is concerned about the online threats to kids—from predators to videos promoting self-harm, risky behavior, or low self-esteem. Many families have suffered due to Big Tech’s failure to take responsibility for its products. The Kids Off Social Media Act addresses these issues by supporting families in crisis and empowering teachers to better manage their classrooms. I am proud to work with Senator Schatz on this bipartisan legislation to combat the harms social media poses to children, especially in schools. As Chairman of the Commerce Committee, I am confident we can swiftly move this legislation and similar measures through committee and urge Congress to heed the calls of parents everywhere by delivering this bill to President Trump’s desk to help protect America’s youth.”

    Specifically, the Kids Off Social Media Act would:

    • Prohibit social media platforms from allowing children under the age of 13 to create or maintain social media accounts;
    • Prohibit social media companies from pushing targeted content using algorithms to users under the age of 17;
    • Provide the FTC and state attorneys general authority to enforce the provisions of the bill; and
    • Follow existing CIPA framework, with changes, to require schools to work in good faith to limit social media on their federally-funded networks, which many schools already do.

    Parents overwhelmingly support the mission of the Kids Off Social Media Act. A survey conducted by Count on Mothers shows that over 90 percent of mothers agree that there should be a minimum age of 13 for social media. Additionally, 87 percent of mothers agree that social media companies should not be allowed to use personalized recommendation systems to deliver content to children. Pew finds similar levels of concern from parents, reporting that 70 percent or more of parents worry that their teens are being exposed to explicit content or wasting too much time on social media, with two-thirds of parents saying that parenting is harder today compared to 20 years ago—and many of them cited social media as a contributing factor.

    The Kids Off Social Media Act is supported by Public Citizen, National Organization for Women, National Association of Social Workers, National League for Nursing, National Association of School Nurses, KidsToo, Count on Mothers, American Federation of Teachers, American Counseling Association, National Federation of Families, National Association of Pediatric Nurse Practitioners, National Council for Mental Wellbeing, Parents Television and Media Council, Tyler Clementi Foundation, Parents Who Fight, Conservative Ladies of America, David’s Legacy Foundation, Digital Progress, HAS Coalition, Parents Defending Education Action, Concerned Women for America Legislative Action Committee, and the American Academy of Child and Adolescent Psychiatry.

    A copy of the legislation is available here. For more information on the Kids Off Social Media Act, click here.

    MIL OSI USA News

  • MIL-OSI: StoneX Group Inc. Reports Fiscal 2025 First Quarter Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Record Quarterly Net Operating Revenues of $492.1 million, up 17%  

    Record Quarterly Net Income of $85.1 million, ROE of 19.5%

    Record Quarterly Diluted EPS of $2.54 per share, up 19%

    Announces a Three-for-Two Stock Split

    NEW YORK, Feb. 05, 2025 (GLOBE NEWSWIRE) — StoneX Group Inc. (the “Company”; NASDAQ: SNEX), a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high touch service and deep expertise, today announced its financial results for the fiscal year 2025 first quarter ended December 31, 2024. In addition and as discussed further below, on February 5, 2024, the Company’s Board of Directors approved a three-for-two split of the Company’s common stock.

    Sean O’Connor, the Company’s Executive Vice-Chairman of the Board, stated, “We achieved another record quarterly result, building on momentum realized through fiscal 2024, reporting net income of $85.1 million, a 23% increase over the prior year quarter, diluted EPS of $2.54, and a 19.5% return on equity for the first fiscal quarter of 2025. We experienced continued strong client engagement with increased volumes across all operating segments and products despite relatively low volatility.”

    StoneX Group Inc. Summary Financials

    Consolidated financial statements for the Company will be included in our Quarterly Report on Form 10-Q to be filed with the Securities and Exchange Commission (the “SEC”). Upon filing, the Quarterly Report on Form 10-Q will also be made available on the Company’s website at www.stonex.com.

      Three Months Ended December 31,
    (Unaudited) (in millions, except share and per share amounts)   2024       2023     %
    Change
    Revenues:          
    Sales of physical commodities $ 27,051.1     $ 18,820.9     44%
    Principal gains, net   308.9       293.8     5%
    Commission and clearing fees   149.3       129.7     15%
    Consulting, management, and account fees   47.8       38.5     24%
    Interest income   378.2       290.1     30%
    Total revenues   27,935.3       19,573.0     43%
    Cost of sales of physical commodities   26,991.0       18,788.8     44%
    Operating revenues   944.3       784.2     20%
    Transaction-based clearing expenses   86.5       74.3     16%
    Introducing broker commissions   44.3       39.1     13%
    Interest expense   306.2       236.0     30%
    Interest expense on corporate funding   15.2       13.2     15%
    Net operating revenues   492.1       421.6     17%
    Compensation and other expenses:          
    Variable compensation and benefits   133.3       121.9     9%
    Fixed compensation and benefits   119.2       96.2     24%
    Trading systems and market information   20.0       18.7     7%
    Professional fees   19.0       15.7     21%
    Non-trading technology and support   19.7       16.9     17%
    Occupancy and equipment rental   13.0       7.7     69%
    Selling and marketing   12.0       11.7     3%
    Travel and business development   8.4       7.1     18%
    Communications   2.1       2.2     (5)%
    Depreciation and amortization   15.7       11.2     40%
    Bad debts (recoveries), net   1.8       (0.3 )   n/m
    Other   16.7       16.9     (1)%
    Total compensation and other expenses   380.9       325.9     17%
    Other gains   5.7           n/m
    Income before tax   116.9       95.7     22%
    Income tax expense   31.8       26.6     20%
    Net income $ 85.1     $ 69.1     23%
    Earnings per share:(1)          
    Basic $ 2.66     $ 2.20     21%
    Diluted $ 2.54     $ 2.13     19%
    Weighted-average number of common shares outstanding:(1)          
    Basic   30,976,042       30,233,107     2%
    Diluted   32,444,772       31,274,307     4%
               
    Return on equity (“ROE”)(1)   19.5 %     19.3 %    
    ROE on tangible book value(1)   20.5 %     20.5 %    
    n/m = not meaningful to present as a percentage
    (1 ) The Company calculates ROE on stated book value based on net income divided by average stockholders’ equity. For the calculation of ROE on tangible book value, the amount of goodwill and intangibles, net is excluded from stockholders’ equity.
         

    The following table presents our consolidated operating revenues by segment for the periods indicated.

      Three Months Ended December 31,
    (in millions)   2024       2023     % Change
    Segment operating revenues represented by:          
    Commercial $ 232.3     $ 198.4     17%
    Institutional   539.6       435.7     24%
    Self-Directed/Retail   124.1       92.5     34%
    Payments   58.1       60.6     (4)%
    Corporate   11.1       9.2     21%
    Eliminations   (20.9 )     (12.2 )   71%
    Operating revenues $ 944.3     $ 784.2     20%
                       

    The following table presents our consolidated income by segment for the periods indicated.

      Three Months Ended December 31,
    (in millions)   2024       2023     % Change
    Segment income represented by:          
    Commercial $ 102.2     $ 87.2     17%
    Institutional   78.1       65.2     20%
    Self-Directed/Retail   56.9       28.7     98%
    Payments   34.1       35.0     (3)%
    Total segment income $ 271.3     $ 216.1     26%
    Reconciliation of segment income to income before tax:          
    Segment income $ 271.3     $ 216.1     26%
    Net operating loss within Corporate(1)   (21.1 )     (15.6 )   35%
    Overhead costs and expenses   (133.3 )     (104.8 )   27%
    Income before tax $ 116.9     $ 95.7     22%
    (1 ) Includes interest expense on corporate funding.
         

    Key Operating Metrics

    The tables below present operating revenues disaggregated across the key products we provide to our clients and select operating data and metrics used by management in evaluating our performance, for the periods indicated.

      Three Months Ended December 31,
        2024       2023     % Change
    Operating Revenues (in millions):          
    Listed derivatives $ 111.8     $ 109.2     2%
    Over-the-counter (“OTC”) derivatives   36.6       44.5     (18)%
    Securities   401.8       316.2     27%
    FX/Contracts for difference (“CFD”) contracts   98.6       74.6     32%
    Payments   56.8       59.4     (4)%
    Physical contracts   92.6       51.4     80%
    Interest/fees earned on client balances   107.6       98.4     9%
    Other   48.3       33.5     44%
    Corporate   11.1       9.2     21%
    Eliminations   (20.9 )     (12.2 )   71%
      $ 944.3     $ 784.2     20%
    Volumes and Other Select Data:          
    Listed derivatives (contracts, 000’s)   53,180       50,759     5%
    Listed derivatives, average rate per contract (“RPC”)(1) $ 2.03     $ 2.03     —%
    Average client equity – listed derivatives (millions) $ 6,620     $ 6,170     7%
    OTC derivatives (contracts, 000’s)   859       814     6%
    OTC derivatives, average RPC $ 42.84     $ 54.92     (22)%
    Securities average daily volume (“ADV”) (millions) $ 8,733     $ 6,224     40%
    Securities rate per million (“RPM”)(2) $ 237     $ 295     (20)%
    Average money market/FDIC sweep client balances (millions) $ 1,197     $ 1,060     13%
    FX/CFD contracts ADV (millions) $ 11,685     $ 10,917     7%
    FX/CFD contracts RPM $ 133     $ 109     22%
    Payments ADV (millions) $ 84     $ 75     12%
    Payments RPM $ 10,414     $ 12,557     (17)%
    (1 ) Give-up fee revenues, related to contract execution for clients of other FCMs, as well as cash and voice brokerage revenues are excluded from the calculation of listed derivatives, average rate per contract.
    (2 ) Interest expense associated with our fixed income activities is deducted from operating revenues in the calculation of Securities RPM while interest income related to securities lending is excluded.
         

    Interest expense

      Three Months Ended December 31,
    (in millions)   2024     2023   % Change
    Interest expense attributable to:          
    Trading activities:          
    Institutional dealer in fixed income securities $ 223.6   $ 172.1   30%
    Securities borrowing   22.0     14.6   51%
    Client balances on deposit   33.8     36.3   (7)%
    Short-term financing facilities of subsidiaries and other direct interest of operating segments   26.8     13.0   106%
        306.2     236.0   30%
    Corporate funding   15.2     13.2   15%
    Total interest expense $ 321.4   $ 249.2   29%
                   

    Increased interest expense attributable to trading activities principally resulted from an increase in our fixed income, securities borrowing, and physical business activities. The increase in interest expense for the three months ended December 31, 2024 attributable to corporate funding was principally due to an increase in the aggregate amount of senior secured notes outstanding, related to the March 1, 2024 issuance of our 7.875% Senior Secured Notes due 2031 (the “Notes due 2031”), effectively replacing our 8.625% Senior Secured Notes due 2025 (“the Notes due 2025”). This increase was partially offset by lower average borrowings on our revolving credit facility.

    Variable vs. Fixed Expenses
    The table below sets forth our variable expenses and non-variable expenses as a percentage of total non-interest expenses for the periods indicated.

      Three Months Ended December 31,
    (in millions)   2024   % of
    Total
        2023     % of
    Total
    Variable compensation and benefits $ 133.3   26%   $ 121.9     28%
    Transaction-based clearing expenses   86.5   17%     74.3     17%
    Introducing broker commissions   44.3   9%     39.1     9%
    Total variable expenses   264.1   52%     235.3     54%
    Fixed compensation and benefits   119.2   23%     96.2     22%
    Other fixed expenses   126.6   25%     108.1     24%
    Bad debts (recoveries), net   1.8   —%     (0.3 )   —%
    Total non-variable expenses   247.6   48%     204.0     46%
    Total non-interest expenses $ 511.7   100%   $ 439.3     100%
                         

    Other Gains, net

    The results of the three months ended December 31, 2024 included nonrecurring gains of $5.7 million resulting from proceeds received from class action settlements.

    Segment Results

    Our business activities are managed through four operating segments, including Commercial, Institutional, Self-Directed/Retail and Payments.

    The tables below present the financial performance, a disaggregation of operating revenues, and select operating data and metrics used by management in evaluating the performance of our segments, for the periods indicated. Additional information on the performance of our segments will be included in our Quarterly Report on Form 10-Q to be filed with the SEC.

    Commercial

      Three Months Ended December 31,
    (in millions)   2024     2023     % Change
    Revenues:          
    Sales of physical commodities $ 27,033.7   $ 18,809.5     44%
    Principal gains, net   67.2     77.1     (13)%
    Commission and clearing fees   48.7     44.3     10%
    Consulting, management and account fees   6.5     5.8     12%
    Interest income   52.9     41.3     28%
    Total revenues   27,209.0     18,978.0     43%
    Cost of sales of physical commodities   26,976.7     18,779.6     44%
    Operating revenues   232.3     198.4     17%
    Transaction-based clearing expenses   17.6     15.8     11%
    Introducing broker commissions   11.3     10.4     9%
    Interest expense   14.2     8.8     61%
    Net operating revenues   189.2     163.4     16%
    Variable compensation and benefits   43.5     37.0     18%
    Net contribution   145.7     126.4     15%
    Fixed compensation and benefits   17.0     15.5     10%
    Other fixed expenses   25.3     23.8     6%
    Bad debts (recoveries), net   1.2     (0.1 )   n/m
    Non-variable direct expenses   43.5     39.2     11%
    Segment income   102.2     87.2     17%
    Allocation of overhead costs   9.7     8.8     10%
    Segment income, less allocation of overhead costs $ 92.5   $ 78.4     18%
      Three Months Ended December 31,
        2024     2023   % Change
    Operating Revenues (in millions):          
    Listed derivatives $ 62.2   $ 59.4   5%
    OTC derivatives   36.6     44.5   (18)%
    Physical contracts   90.1     50.6   78%
    Interest/fees earned on client balances   36.6     37.2   (2)%
    Other   6.8     6.7   1%
      $ 232.3   $ 198.4   17%
               
    Volumes and Other Select Data:    
    Listed derivatives (contracts, 000’s)   10,608     9,523   11%
    Listed derivatives, average RPC (1) $ 5.67   $ 5.95   (5)%
    Average client equity – listed derivatives (millions) $ 1,727   $ 1,700   2%
    OTC derivatives (contracts, 000’s)   859     814   5%
    OTC derivatives, average RPC $ 42.84   $ 54.92   (22)%
    (1 ) Give-up fee revenues, related to contract execution for clients of other FCMs, as well as cash and voice brokerage revenues are excluded from the calculation of listed derivatives, average RPC.
         

    Institutional

      Three Months Ended December 31,
    (in millions)   2024     2023     % Change
    Revenues:          
    Sales of physical commodities $   $     —%
    Principal gains, net   108.6     103.2     5%
    Commission and clearing fees   85.7     73.3     17%
    Consulting, management and account fees   20.3     17.3     17%
    Interest income   325.0     241.9     34%
    Total revenues   539.6     435.7     24%
    Cost of sales of physical commodities           —%
    Operating revenues   539.6     435.7     24%
    Transaction-based clearing expenses   63.0     52.9     19%
    Introducing broker commissions   8.1     7.7     5%
    Interest expense   294.5     226.5     30%
    Net operating revenues   174.0     148.6     17%
    Variable compensation and benefits   56.2     48.4     16%
    Net contribution   117.8     100.2     18%
    Fixed compensation and benefits   18.6     16.4     13%
    Other fixed expenses   22.4     19.0     18%
    Bad debts (recoveries), net       (0.4 )   (100)%
    Non-variable direct expenses   41.0     35.0     17%
    Other gain   1.3         n/m
    Segment income $ 78.1   $ 65.2     20%
    Allocation of overhead costs   14.8     12.8     16%
    Segment income, less allocation of overhead costs $ 63.3   $ 52.4     21%
      Three Months Ended December 31,
        2024     2023   % Change
    Operating Revenues (in millions):          
    Listed derivatives $ 49.6   $ 49.8   —%
    Securities   373.5     293.6   27%
    FX contracts   9.6     8.0   20%
    Interest/fees earned on client balances   70.3     60.5   16%
    Other   36.6     23.8   54%
      $ 539.6   $ 435.7   24%
               
    Volumes and Other Select Data:          
    Listed derivatives (contracts, 000’s)   42,572     41,236   3%
    Listed derivatives, average RPC (1) $ 1.12   $ 1.12   —%
    Average client equity – listed derivatives (millions) $ 4,893   $ 4,470   9%
    Securities ADV (millions) $ 8,733   $ 6,224   40%
    Securities RPM (2) $ 237   $ 295   (20)%
    Average money market/FDIC sweep client balances (millions) $ 1,197   $ 1,060   13%
    FX contracts ADV (millions) $ 4,082   $ 3,970   3%
    FX contracts RPM $ 36   $ 34   6%
    (1 ) Give-up fee revenues, related to contract execution for clients of other FCMs, revenues are excluded from the calculation of listed derivatives, average RPC.
    (2 ) Interest expense associated with our fixed income activities is deducted from operating revenues in the calculation of Securities RPM, while interest income related to securities lending is excluded.
         

    Self-Directed/Retail

      Three Months Ended December 31,
    (in millions)   2024     2023   % Change
    Revenues:          
    Sales of physical commodities $ 17.4   $ 11.4   53%
    Principal gains, net   79.5     55.6   43%
    Commission and clearing fees   13.5     11.2   21%
    Consulting, management and account fees   19.3     14.1   37%
    Interest income   8.7     9.4   (7)%
    Total revenues   138.4     101.7   36%
    Cost of sales of physical commodities   14.3     9.2   55%
    Operating revenues   124.1     92.5   34%
    Transaction-based clearing expenses   3.4     3.5   (3)%
    Introducing broker commissions   24.0     20.4   18%
    Interest expense   2.1     1.6   31%
    Net operating revenues   94.6     67.0   41%
    Variable compensation and benefits   3.0     4.4   (32)%
    Net contribution   91.6     62.6   46%
    Fixed compensation and benefits   9.4     10.3   (9)%
    Other fixed expenses   29.2     23.5   24%
    Bad debts, net of recoveries   0.5     0.1   400%
    Non-variable direct expenses   39.1     33.9   15%
    Other gain   4.4       n/m
    Segment income   56.9     28.7   98%
    Allocation of overhead costs   12.6     11.5   10%
    Segment income, less allocation of overhead costs $ 44.3   $ 17.2   158%
      Three Months Ended December 31,
        2024     2023   % Change
    Operating Revenues (in millions):          
    Securities $ 28.3   $ 22.6   25%
    FX/CFD contracts   89.0     66.6   34%
    Physical contracts   2.5     0.8   213%
    Interest/fees earned on client balances   0.7     0.7   —%
    Other   3.6     1.8   100%
      $ 124.1   $ 92.5   34%
               
    Volumes and Other Select Data:    
    FX/CFD contracts ADV (millions) $ 7,603   $ 6,948   9%
    FX/CFD contracts RPM $ 185   $ 151   23%

    Payments

      Three Months Ended December 31,
    (in millions)   2024     2023   % Change
    Revenues:          
    Sales of physical commodities $   $   —%
    Principal gains, net   54.4     57.5   (5)%
    Commission and clearing fees   1.8     1.5   20%
    Consulting, management, account fees   1.3     0.9   44%
    Interest income   0.6     0.7   (14)%
    Total revenues   58.1     60.6   (4)%
    Cost of sales of physical commodities         —%
    Operating revenues   58.1     60.6   (4)%
    Transaction-based clearing expenses   1.8     1.8   —%
    Introducing broker commissions   0.9     0.6   50%
    Interest expense         —%
    Net operating revenues   55.4     58.2   (5)%
    Variable compensation and benefits   9.1     10.6   (14)%
    Net contribution   46.3     47.6   (3)%
    Fixed compensation and benefits   6.6     7.3   (10)%
    Other fixed expenses   5.5     5.2   6%
    Bad debts, net of recoveries   0.1     0.1   —%
    Total non-variable direct expenses   12.2     12.6   (3)%
    Segment income   34.1     35.0   (3)%
    Allocation of overhead costs   5.6     5.1   10%
    Segment income, less allocation of overhead costs $ 28.5   $ 29.9   (5)%
      Three Months Ended December 31,
        2024     2023   % Change
    Operating Revenues (in millions):          
    Payments $ 56.8   $ 59.4   (4)%
    Other   1.3     1.2   8%
      $ 58.1   $ 60.6   (4)%
               
    Volumes and Other Select Data:    
    Payments ADV (millions) $ 84   $ 75   12%
    Payments RPM $ 10,414   $ 12,557   (17)%
                   

    Overhead Costs and Expenses

    We incur overhead costs and expenses, including certain shared services such as information technology, accounting and treasury, credit and risk, legal and compliance, and human resources and other activities. The following table provides information regarding overhead costs and expenses. The allocation of overhead costs to operating segments includes costs associated with compliance, technology, and credit and risk costs. The share of allocated costs is based on resources consumed by the relevant businesses. In addition, the allocation of human resources and occupancy costs is principally based on employee costs within the relevant businesses.

      Three Months Ended December 31,
    (in millions)   2024       2023     % Change
    Compensation and benefits:          
    Variable compensation and benefits $ 20.2     $ 19.4     4%
    Fixed compensation and benefits   61.0       40.6     50%
        81.2       60.0     35%
    Other expenses:          
    Occupancy and equipment rental   12.1       7.3     66%
    Non-trading technology and support   15.3       13.0     18%
    Professional fees   8.7       7.5     16%
    Depreciation and amortization   6.4       5.5     16%
    Communications   1.5       1.6     (6)%
    Selling and marketing   0.9       1.3     (31)%
    Trading systems and market information   1.6       1.7     (6)%
    Travel and business development   2.6       1.7     53%
    Other   3.0       5.2     (42)%
        52.1       44.8     16%
    Overhead costs and expenses   133.3       104.8     27%
    Allocation of overhead costs   (42.7 )     (38.2 )   12%
    Overhead costs and expense, net of allocation to operating segments $ 90.6     $ 66.6     36%
                       

    Balance Sheet Summary

    The following table below provides a summary of asset, liability and stockholders’ equity information for the periods indicated.

    (Unaudited) (in millions, except for share and per share amounts) December 31, 2024   September 30, 2024
    Summary asset information:      
    Cash and cash equivalents $ 1,398.2   $ 1,269.0
    Cash, securities and other assets segregated under federal and other regulations $ 3,156.6   $ 2,841.2
    Securities purchased under agreements to resell $ 5,479.2   $ 5,201.5
    Securities borrowed $ 2,120.7   $ 1,662.3
    Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net $ 7,783.9   $ 7,283.2
    Receivables from clients, net and notes receivable, net $ 1,096.3   $ 1,013.1
    Financial instruments owned, at fair value $ 6,918.1   $ 6,767.1
    Physical commodities inventory, net $ 861.4   $ 681.1
    Property and equipment, net $ 145.1   $ 143.1
    Operating right of use assets $ 159.7   $ 157.0
    Goodwill and intangible assets, net $ 87.0   $ 80.6
    Other $ 379.1   $ 367.1
           
    Summary liability and stockholders’ equity information:      
    Accounts payable and other accrued liabilities $ 491.3   $ 548.8
    Operating lease liabilities $ 198.6   $ 195.9
    Payables to clients $ 11,338.2   $ 10,345.9
    Payables to broker-dealers, clearing organizations and counterparties $ 445.5   $ 734.2
    Payables to lenders under loans $ 550.0   $ 338.8
    Senior secured borrowings, net $ 543.3   $ 543.1
    Securities sold under agreements to repurchase $ 8,872.9   $ 8,581.3
    Securities loaned $ 1,826.5   $ 1,615.9
    Financial instruments sold, not yet purchased, at fair value $ 3,541.6   $ 2,853.3
    Stockholders’ equity $ 1,777.4   $ 1,709.1
           
    Common stock outstanding – shares   32,034,629     31,874,447
    Net asset value per share $ 55.48   $ 53.62
               

    Three-for-Two Stock Split

    On February 5, 2025, the Company’s Board of Directors approved a three-for-two split of its common stock to make stock ownership more accessible to employees and investors. The stock split will be effected as a stock dividend entitling each stockholder of record to receive one additional share of common stock for every two shares owned. Additional shares issued as a result of the stock dividend will be distributed after close of trading on March 21, 2025, to stockholders of record at the close of business on March 11, 2025. Cash will be distributed in lieu of fractional shares based on the opening price of a share of common stock on March 12, 2025. Trading is expected to begin on a stock split-adjusted basis at market open on March 24, 2025. All share and per share amounts contained herein have not been retroactively adjusted for this subsequent stock split.

    Conference Call & Web Cast

    A conference call to discuss the Company’s financial results will be held tomorrow, Thursday, February 6, 2025 at 9:00 a.m. Eastern time. The call may also include discussion of Company developments, and forward-looking and other material information about business and financial matters. A live webcast of the conference call as well as additional information to review during the call will be made available in PDF form on-line on the Company’s corporate web site at https://register.vevent.com/register/BIe20141cf7fd043c89fde461964a3582e approximately ten minutes prior to the start time. Participants may preregister for the conference call here.

    For those who cannot access the live broadcast, a replay of the call will be available at https://www.stonex.com

    About StoneX Group Inc.

    StoneX Group Inc., through its subsidiaries, operates a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high touch service and deep expertise. The Company strives to be the one trusted partner to its clients, providing its network, product and services to allow them to pursue trading opportunities, manage their market risks, make investments and improve their business performance. A Fortune-500 company headquartered in New York City and listed on the Nasdaq Global Select Market (NASDAQ:SNEX), StoneX Group Inc. and its more than 4,600 employees serve more than 54,000 commercial, institutional, and payments clients, and more than 400,000 retail accounts, from more than 80 offices spread across six continents. Further information on the Company is available at www.stonex.com

    Forward Looking Statements

    This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, such as those pertaining to the Company’s financial condition, results of operations, business strategy, financial needs of the Company and the stock split. All statements other than statements of current or historical fact contained in this press release are forward-looking statements. The words “believe,” “expect,” “anticipate,” “should,” “plan,” “will,” “may,” “could,” “intend,” “estimate,” “predict,” “potential,” “continue” or the negative of these terms and similar expressions, as they relate to StoneX Group Inc., are intended to identify forward-looking statements.

    These forward-looking statements are largely based on current expectations and projections about future events and financial trends that may affect the financial condition, results of operations, business strategy and financial needs of the Company. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the control of the Company, including adverse changes in economic, political and market conditions, including losses from our market-making and trading activities arising from counterparty failures, the loss of key personnel, the impact of increasing competition, the impact of changes in government regulation, the possibility of liabilities arising from violations of foreign, United States (“U.S.”) federal and U.S. state securities laws, the impact of changes in technology in the securities and commodities trading industries, and other risks discussed in our filings with the SEC, including Part I, Item 1A of our Annual Report on Form 10-K for the year ended September 30, 2024. Although we believe that our forward-looking statements are based upon reasonable assumptions regarding our business and future market conditions, there can be no assurances that our actual results will not differ materially from any results expressed or implied by our forward-looking statements.

    These forward-looking statements speak only as of the date of this press release. StoneX Group Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

    StoneX Group Inc.

    Investor inquiries:

    Kevin Murphy
    (212) 403 – 7296
    kevin.murphy@stonex.com

    SNEX-G

    The MIL Network

  • MIL-OSI: Great Elm Group Reports Fiscal 2025 Second Quarter Financial Results

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH GARDENS, Fla., Feb. 05, 2025 (GLOBE NEWSWIRE) — Great Elm Group, Inc. (“we,” “our,” “GEG,” “Great Elm,” or “the Company”), (NASDAQ: GEG), an alternative asset manager, today announced financial results for its fiscal second quarter ended December 31, 2024. 

    Fiscal Second Quarter 2025 and Recent Highlights

    • Great Elm Capital Corp. (NASDAQ: GECC) raised an additional $13.2 million of equity at NAV in December 2024, through the issuance of approximately 1.1 million shares of GECC common stock to Summit Grove Partners (“SGP”). 
    • On February 4, 2025, the Company acquired the assets of Greenfield CRE, a leading construction management company and longstanding partner of Monomoy.
      • In connection with the acquisition, Great Elm formed Monomoy Construction Services, LLC (“MCS”) and combined Greenfield with Monomoy BTS Construction Management to launch an integrated, full-service construction business.
      • MCS will be dedicated to serving Great Elm’s various real estate verticals, as well as expanding its existing third-party consulting business.
    • GEG’s fee-paying assets under management (“FPAUM”) and assets under management (“AUM”) totaled approximately $538 million and $751 million, respectively.
      • FPAUM and AUM growth of 17% and 14%, respectively, compared to the prior-year period.
    • Total revenue for the second quarter grew 24% to $3.5 million, compared to $2.8 million for the prior-year period.
      • Growth in revenue was primarily driven by increased revenue from Monomoy BTS, Corporation and increased GECC management fees, due to growth in FPAUM.
      • Great Elm collected incentive fees from GECC totaling $0.5 million for the three months ended December 31, 2024.
    • Net income from continuing operations for the second quarter was $1.4 million, compared to a net loss from continuing operations of ($0.2) million in the prior-year period.
    • Adjusted EBITDA for the second quarter was $1.0 million, compared to $0.6 million in the prior-year period.
    • Through February 4, 2025, Great Elm has repurchased approximately 4.1 million shares for $7.4 million, at an average price of $1.83 per share, through its share repurchase program.
      • Book value per share was $2.30 as of December 31, 2024, excluding Consolidated Funds.
    • As of December 31, 2024, GEG had approximately $44 million of cash on its balance sheet to support growth initiatives across its alternative asset management platform.

    Management Commentary

    Jason Reese, Chief Executive Officer of the Company, stated, “We delivered a solid fiscal second quarter 2025, continuing our positive momentum by expanding our assets under management, growing revenue across our credit and real estate businesses and generating strong returns on our investments. Our BDC closed another successful capital raise at NAV, increased its first quarter dividend to 37 cents per share and announced a special dividend in December of 5 cents per share. Additionally, the Great Elm Credit Income Fund (“GECIF”) continued to perform very well, closing December with net inception-to-date returns of approximately 13.9%.¹ GECIF’s established track record leaves us well-positioned to attract further capital to scale our investment management platform.”  

    “In Real Estate, we were thrilled to announce the acquisition of Greenfield CRE into our newly formed Monomoy Construction Services business. We expect this transaction to enhance our construction management expertise, expand our scope of services, and fortify our overall real estate value proposition to our investors and tenants. Our long-standing relationship with Greenfield will allow us to quickly benefit from the launch of our fully integrated, full-service real estate platform. Importantly, we maintained our commitment to the GEG share repurchase program, continuing to buy back shares at an attractive discount to book value. Looking ahead, we remain focused on executing on our strategic priorities: growing our core credit and real estate businesses, pursuing compelling investment opportunities across our platform and leveraging our strong balance sheet to maximize shareholder value.”

    GEG Managed Vehicle Highlights

    • GECC demonstrated continued strong performance, raised meaningful capital and increased its quarterly base distribution.
      • GECC raised $13.2 million of equity at Net Asset Value (“NAV”) through the issuance of approximately 1.1 million shares of GECC common stock to SGP.
      • GEG demonstrated its commitment to growing its credit platform through a $3.3 million investment in SGP.  
      • GECC announced a 5.7% increase on its quarterly base distribution to $0.37 per share for the first quarter of 2025 (compared to the prior $0.35 per share) and paid a special cash distribution of $0.05 per share in January 2025.
    • Monomoy BTS and Monomoy REIT continued to execute on their strategic priorities.
      • Monomoy BTS completed construction of its second build-to-suit property in Mississippi and made meaningful progress on its third project in Florida.
      • Monomoy REIT closed on three property purchases for approximately $3.8 million and maintains a strong pipeline of transaction opportunities and open requirements from our tenants.
    • GECIF delivered a strong return on invested capital of approximately 13.9%, net of fees, for the period from its inception through December 31, 2024.¹

    Discussion of Financial Results for the Fiscal Second Quarter Ended December 31, 2024

    GEG reported total revenue of $3.5 million, up 24% from $2.8 million in the prior-year period.

    GEG recorded net income from continuing operations of $1.4 million, compared to a net loss from continuing operations of ($0.2) million in the prior-year period.

    GEG recorded Adjusted EBITDA of $1.0 million, compared to $0.6 million in the prior-year period.

    Monomoy CRE, LLC Acquisition

    On February 4, 2025, Great Elm acquired the assets of Greenfield, a leading construction management company and longstanding partner of MCRE, our real estate investment manager. In connection with the acquisition, Great Elm formed Monomoy Construction Services, LLC and combined the assets of Greenfield with the assets of Monomoy BTS Construction Management to launch an integrated, full-service construction business. With MCS, Monomoy will offer a full-service, in-house suite of project management, procurement, construction management, asset management, market analysis and feasibility services for its industrial real estate tenants.

    Stock Repurchase Program

    In the fiscal first quarter 2025, GEG’s Board of Directors approved an incremental stock repurchase program under which GEG is authorized to repurchase up to $20 million in the aggregate of its outstanding common stock in the open market. As of February 4, 2025, the Company has repurchased approximately 4.1 million shares for $7.4 million under this program.

    Fiscal 2025 Second Quarter Conference Call & Webcast Information
         
    When:   Thursday, February 6, 2025, 8:30 a.m. Eastern Time (ET)
         
    Call:   All interested parties are invited to participate in the conference call by dialing +1 (877) 407-0752; international callers should dial +1 (201) 389-0912. Participants should enter the Conference ID 13746970 if asked.
         
    Webcast:   The conference call will be webcast simultaneously and can be accessed here. A copy of the slide presentation accompanying the conference call, can be found here.
         

    About Great Elm Group, Inc.

    Great Elm Group, Inc. (NASDAQ: GEG) is a publicly-traded, alternative asset manager focused on growing a scalable and diversified portfolio of long-duration and permanent capital vehicles across credit, real estate, specialty finance, and other alternative strategies. Great Elm Group, Inc. and its subsidiaries currently manage Great Elm Capital Corp., a publicly-traded business development company, and Monomoy Properties REIT, LLC, an industrial-focused real estate investment trust, in addition to other investments. Great Elm Group, Inc.’s website can be found at www.greatelmgroup.com.

    Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

    Statements in this press release that are “forward-looking” statements, including statements regarding expected growth, profitability, acquisition opportunities and outlook involve risks and uncertainties that may individually or collectively impact the matters described herein. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made and represent Great Elm’s assumptions and expectations in light of currently available information.  These statements involve risks, variables and uncertainties, and Great Elm’s actual performance results may differ from those projected, and any such differences may be material. For information on certain factors that could cause actual events or results to differ materially from Great Elm’s expectations, please see Great Elm’s filings with the Securities and Exchange Commission (“SEC”), including its most recent annual report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Additional information relating to Great Elm’s financial position and results of operations is also contained in Great Elm’s annual and quarterly reports filed with the SEC and available for download at its website www.greatelmgroup.com or at the SEC website www.sec.gov.

    Non-GAAP Financial Measures

    The SEC has adopted rules to regulate the use in filings with the SEC, and in public disclosures, of financial measures that are not in accordance with US GAAP, such as adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”). Adjusted EBITDA is derived from methodologies other than in accordance with US GAAP. Great Elm believes that Adjusted EBITDA is an important measure for investors to use in evaluating Great Elm’s businesses. In addition, Great Elm’s management reviews Adjusted EBITDA as they evaluate acquisition opportunities.

    Adjusted EBITDA has limitations as an analytical tool, and you should not consider it either in isolation from, or as a substitute for, analyzing Great Elm’s results as reported under US GAAP. Non-GAAP financial measures reported by Great Elm may not be comparable to similarly titled amounts reported by other companies.

    Included in the financial tables below is a reconciliation of Adjusted EBITDA to the most directly comparable US GAAP financial measure, net income from continuing operations.

    Endnotes
    ¹Assumes invested at inception on November 1, 2023, and remained invested throughout the succeeding fourteen months ended December 31, 2024, with distributions reinvested, net of founder’s class fees and expenses. Performance results should not be regarded as final until audited financial statements are issued covering the period shown. Past performance is no guarantee of future results. This press release does not constitute an offer to sell or a solicitation of an offer to buy interests in any investment vehicle managed by Great Elm or its affiliates. Any such offer or solicitation will only be made pursuant to the applicable offering documents for such investment vehicle.

    Media & Investor Contact:
    Investor Relations
    geginvestorrelations@greatelmcap.com

    Great Elm Group, Inc.
    Condensed Consolidated Balance Sheets (unaudited)
    Dollar amounts in thousands (except per share data)

    ASSETS   December 31, 2024     June 30, 2024  
    Current assets            
    Cash and cash equivalents   $ 44,288     $ 48,147  
    Restricted cash           1,571  
    Receivables from managed funds     3,725       2,259  
    Investments in marketable securities           9,929  
    Investments, at fair value     49,918       44,585  
    Prepaid and other current assets     5,275       1,215  
    Real estate assets, net     6,524       5,769  
    Assets of Consolidated Funds:            
    Cash and cash equivalents     2,568       2,371  
    Investments, at fair value     11,902       11,471  
    Other assets     223       253  
    Total current assets     124,423       127,570  
    Identifiable intangible assets, net     10,510       11,037  
    Right-of-use assets     1,784       225  
    Other assets     1,770       1,614  
    Total assets   $ 138,487     $ 140,446  
    LIABILITIES AND STOCKHOLDERS’ EQUITY            
    Current liabilities            
    Accounts payable   $ 185     $ 317  
    Payable for securities purchased     19        
    Accrued expenses and other current liabilities     2,817       7,009  
    Current portion of related party payables     254       634  
    Current portion of lease liabilities     335       137  
    Liabilities of Consolidated Funds:            
    Payable for securities purchased     340       100  
    Accrued expenses and other liabilities     151       162  
    Total current liabilities     4,101       8,359  
    Lease liabilities, net of current portion     1,442       57  
    Long-term debt (face value $26,945)     26,231       26,090  
    Related party payables, net of current portion            
    Convertible notes (face value $36,380 and $35,494, including $16,578 and $16,174 held by related parties, respectively)     35,838       34,900  
    Other liabilities     817       845  
    Total liabilities     68,429       70,251  
    Commitments and contingencies            
    Stockholders’ equity            
    Preferred stock, $0.001 par value; 5,000,000 authorized and zero outstanding            
    Common stock, $0.001 par value; 350,000,000 shares authorized and 29,519,825 shares issued and 27,150,036 outstanding at December 31, 2024; and 31,875,285 shares issued and 30,494,448 outstanding at June 30, 2024     26       30  
    Additional paid-in-capital     3,311,447       3,315,638  
    Accumulated deficit     (3,249,139 )     (3,252,954 )
    Total Great Elm Group, Inc. stockholders’ equity     62,334       62,714  
    Non-controlling interests     7,724       7,481  
    Total stockholders’ equity     70,058       70,195  
    Total liabilities and stockholders’ equity   $ 138,487     $ 140,446  
     


    Great Elm Group, Inc.

    Condensed Consolidated Statements of Operations (unaudited)
    Amounts in thousands (except per share data)

        For the three months ended
    December 31,
        For the six months ended
    December 31,
     
        2024     2023     2024     2023  
    Revenues   $ 3,507     $ 2,819     $ 7,499     $ 6,129  
    Cost of revenues     458             1,093        
    Operating costs and expenses:                        
    Investment management expenses     3,431       2,839       6,489       5,601  
    Depreciation and amortization     284       283       557       566  
    Selling, general and administrative     1,306       2,393       3,312       4,108  
    Expenses of Consolidated Funds     5             21        
    Total operating costs and expenses     5,026       5,515       10,379       10,275  
    Operating loss     (1,977 )     (2,696 )     (3,973 )     (4,146 )
    Dividends and interest income     1,567       2,072       3,125       4,058  
    Net realized and unrealized gain     2,428       1,204       6,206       4,488  
    Net realized and unrealized gain (loss) on investments of Consolidated Funds     (29 )     114       249       114  
    Interest and other income of Consolidated Funds     395       128       779       128  
    Interest expense     (1,030 )     (1,061 )     (2,058 )     (2,123 )
    (Loss) income before income taxes from continuing operations     1,354       (239 )     4,328       2,519  
    Income tax benefit (expense)                        
    Net (loss) income from continuing operations     1,354       (239 )     4,328       2,519  
    Discontinued operations:                        
    Net income from discontinued operations                       16  
    Net (loss) income   $ 1,354     $ (239 )   $ 4,328     $ 2,535  
    Less: net income attributable to non-controlling interest, continuing operations     178       111       513       111  
    Net (loss) income attributable to Great Elm Group, Inc.   $ 1,176     $ (350 )   $ 3,815     $ 2,424  
    Net (loss) income attributable to shareholders per share                        
    Basic   $ 0.04     $ (0.01 )   $ 0.13     $ 0.08  
    Diluted   $ 0.04     $ (0.01 )     0.12       0.08  
    Weighted average shares outstanding                        
    Basic     27,983       29,889       28,531       29,734  
    Diluted     28,767       29,889       39,793       30,916  
                                     


    Great Elm Group, Inc.

    Reconciliation from Net Income (loss) from Continuing Operations to Adjusted EBITDA
    Dollar amounts in thousands

        Three months ended
    December 31,
      Six months ended
    December 31,
    (in thousands)   2024     2023     2024     2023  
    Net income (loss) from continuing operations – GAAP   $ 1,354     $ (239 )   $ 4,328     $ 2,519  
    Interest expense     1,030       1,061       2,058       2,123  
    Income tax expense (benefit)                        
    Depreciation and amortization     284       283       557       566  
    Non-cash compensation     755       839       1,872       1,726  
    (Gain) loss on investments     (2,399 )     (1,318 )     (6,455 )     (4,602 )
    Change in contingent consideration           18       (6 )     36  
    Adjusted EBITDA   $ 1,024     $ 644     $ 2,354     $ 2,368  

    The MIL Network

  • MIL-OSI: Weatherford Announces Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    • Fourth quarter revenue of $1,341 million decreased 5% sequentially and 2% year-over-year; full year revenue of $5,513 million increased 7% from prior year, driven by international revenue growth of 10%
    • Fourth quarter operating income of $198 million decreased 19% sequentially and 8% year-over-year; full year operating income of $938 million increased 14% from prior year
    • Fourth quarter net income of $112 million, an 8.4% margin, decreased 29% sequentially and 20% year-over-year; full year net income of $506 million, a 9.2% margin, increased by 21% from prior year
    • Fourth quarter adjusted EBITDA* of $326 million, a 24.3% margin, decreased 8%, or 88 basis points, sequentially and increased 2%, or 74 basis points, year-over-year; full year adjusted EBITDA* of $1,382 million, a 25.1% margin, increased 17%, or 197 basis points, from prior year
    • Fourth quarter cash provided by operating activities of $249 million and adjusted free cash flow* of $162 million; full year cash provided by operating activities of $792 million and adjusted free cash flow* of $524 million
    • Shareholder return of $67 million for the quarter, which included dividend payments of $18 million and share repurchases of $49 million
    • Board approved quarterly cash dividend of $0.25 per share, payable on March 19, 2025, to shareholders of record as of February 21, 2025

    *Non-GAAP – refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled

    HOUSTON, Feb. 05, 2025 (GLOBE NEWSWIRE) — Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced today its results for the fourth quarter of 2024 and full year 2024.

    Revenues for the fourth quarter of 2024 were $1,341 million, a decrease of 5% sequentially and 2% year-over-year. Operating income was $198 million in the fourth quarter of 2024, compared to $243 million in the third quarter of 2024 and $216 million in the fourth quarter of 2023. Net income in the fourth quarter of 2024 was $112 million, with an 8.4% margin, a decrease of 29%, or 279 basis points, sequentially, and a decrease of 20%, or 193 basis points, year-over-year. Adjusted EBITDA* was $326 million, a 24.3% margin, a decrease of 8%, or 88 basis points, sequentially, and an increase of 2%, or 74 basis points, year-over-year. Basic income per share in the fourth quarter of 2024 was $1.54 compared to $2.14 in the third quarter of 2024 and $1.94 in the fourth quarter of 2023. Diluted income per share in the fourth quarter of 2024 was $1.50 compared to $2.06 in the third quarter of 2024 and $1.90 in the fourth quarter of 2023.

    Fourth quarter 2024 cash flows provided by operating activities were $249 million, compared to $262 million in the third quarter of 2024, and $375 million in the fourth quarter of 2023. Adjusted free cash flow* was $162 million, a decrease of $22 million sequentially, and $153 million year-over-year. Capital expenditures were $100 million in the fourth quarter of 2024, compared to $78 million in the third quarter of 2024, and $67 million in the fourth quarter of 2023.

    Revenue for the full year 2024 was $5,513 million, compared to revenues of $5,135 million in 2023. Operating income for the full year was $938 million, compared to $820 million in 2023. The Company’s full year 2024 net income was $506 million, compared to $417 million in 2023. Full year cash flows provided by operations were $792 million, compared to $832 million in 2023. Adjusted free cash flow* for the full year was $524 million compared to $651 million in 2023. Capital expenditures for the full year 2024 were $299 million, compared to $209 million in 2023.

    Girish Saligram, President and Chief Executive Officer, commented, “The fourth quarter witnessed a significant drop in activity levels in Latin America and a more cautious tone in a few key geographies. Despite a challenging environment in the fourth quarter, the overall full year 2024 was another one of setting new operational highs, and I would like to express my gratitude to the One Weatherford team for that. We ended the year with the best safety record we have ever had, strong margin expansion and solid cash generation.

    While the activity outlook continues to evolve, margins and cash flow performance continue to be the cornerstone of our financial and strategic objectives. We are well-positioned to deliver another year of strong cash flow generation in 2025. While there is some temporary activity reduction, we continue to believe in the industry’s mid to long-term resilience and remain committed to our goal of achieving EBITDA margins in the high 20’s over the next few years.”

    *Non-GAAP – refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled

    Operational & Commercial Highlights

    • ADNOC awarded Weatherford a three-year contract for the provision of rigless services as part of the reactivation of ADNOC’s onshore strings.
    • Kuwait Oil Company (KOC) awarded Weatherford a Managed Pressure Drilling (MPD) services contract focused on improving operational efficiency, enhancing safety, accelerating well-delivery timelines, and reducing costs by deploying Weatherford’s innovative VictusTM Intelligent MPD system.
    • KOC awarded Weatherford a one-year contract to provide and operate two onshore Real Time Decision Centers.
    • A National Oil Company (NOC) in Qatar awarded Weatherford a five-year contract to provide fishing and drilling tools, with a five-year extension option.
    • An NOC in Asia awarded Weatherford a three-year contract for the provision of Wireline conveyance and tooling services and a three-year contract for Tubular Running Services (TRS) in onshore India.
    • OMV Petrom awarded Weatherford a two-year contract for openhole and cased-hole logging services in Romania.
    • A major operator in Asia awarded Weatherford a three-year contract for providing ModusTM MPD services for two zones in North and South Sumatra, and awarded a five-year contract to provide openhole and cased-hole Wireline in onshore Indonesia.
    • Khalda awarded Weatherford a three-year contract to deploy up to 300 wells in Egypt using CygNet® SCADA and ForeSite® platform.
    • Azule Energy awarded Weatherford a three-year contract to provide TRS for the NGC Project in offshore Angola. This is in addition to the recently awarded TRS contract in block 15/06 in the deepwater block.
    • PTTEP awarded Weatherford a 24-month contract to provide openhole Wireline Services in onshore Thailand.
    • A major operator in Asia awarded Weatherford with a four-year contract to provide Rotating Control Devices to enable MPD in offshore Indonesia.
    • Shell Petroleum Development Company awarded Weatherford a three-year contract to provide Well Completions and other related specialized services in onshore Nigeria.

    Technology Highlights
    On January 14, 2025, at the annual IKTVA forum held at Dahan Dharan Expo, Weatherford signed an agreement with SPARK, a fully integrated industrial ecosystem aimed at making Saudi Arabia a global energy hub. This strategic partnership, aligned with Saudi Arabia’s Vision 2030, enhances Weatherford’s local presence, boosts production capabilities, and supports the region’s energy goals. By advancing local content, fostering talent, and driving innovation, Weatherford demonstrates its commitment to economic growth and to supporting Saudi Arabia’s leadership in energy innovation.

    • Drilling & Evaluation (“DRE”)
      • In the North Sea, Weatherford successfully deployed the world’s first Dual Advanced Kickover Tool for Equinor. The unique solution enables gas lift valve replacements in just a single run, which significantly increases efficiency and reduces cost of conventional systems.
      • In Saudi Arabia, Weatherford deployed its compact wireline logging tools with shuttle technology to achieve a record total depth for Aramco. This extended reach well features the longest horizontal section, measuring 23,000 feet.
    • Well Construction and Completions (“WCC”)
      • In deepwater Brazil, Weatherford successfully installed the first OptiRoss® RFID Multi-Cycle Sliding Sleeve Valve for a major operator. The system enhances acid stimulation efficiency, improving production and boosting the reservoir’s oil recovery factor.
      • In the Middle East, Weatherford successfully deployed its market-leading Optimax Tubing Retrievable Safety Valve for an NOC. This deployment enabled gas lift valve replacements in a single run, significantly increasing efficiency and reducing costs compared to conventional systems.
    • Production and Intervention (“PRI”)
      • In the Middle East, Weatherford’s Alpha1Go remote re-entry system was deployed for an NOC, optimizing rig site operations by significantly reducing whipstock preparation time and minimizing red-zone exposure. This deployment improved both efficiency and safety, demonstrating the system’s effectiveness in facilitating well re-entry operations and real-time team collaboration in various rig environments.
      • In US land operations, Weatherford successfully deployed its first Reclaim Dual Barrier Plug and Abandon (P&A) system for a major operator. This innovative dual barrier P&A system safely and reliably abandons wells without the need to pull tubing. By eliminating the requirement for conventional drilling rigs, it significantly reduces costs and minimizes the carbon footprint.

    Shareholder Return

    During the fourth quarter of 2024, Weatherford repurchased shares for approximately $49 million and paid dividends of $18 million, resulting in total shareholder return of $67 million. Since the inception of the shareholder return program introduced earlier in 2024, the Company repurchased shares for approximately $99 million and paid dividends of $36 million, resulting in total shareholder return of $135 million.

    On January 29, 2025, our Board declared a cash dividend of $0.25 per share of the Company’s ordinary shares, payable on March 19, 2025, to shareholders of record as of February 21, 2025.

    Results by Reportable Segment

    Drilling and Evaluation (“DRE”)

        Three Months Ended   Variance     Twelve Months Ended   Variance
    ($ in Millions)   Dec 31,
    2024
      Sep 30,
    2024
      Dec 31,
    2023
      Seq.     YoY   Dec 31,
    2024
      Dec 31,
    2023
      YoY
    Revenue   $ 398     $ 435     $ 382     (9 )%   4 %   $ 1,682     $ 1,536     10 %
    Segment Adjusted EBITDA   $ 96     $ 111     $ 97     (14 )%   (1 )%   $ 467     $ 422     11 %
    Segment Adj EBITDA Margin     24.1 %     25.5 %     25.4 %   (140) bps   (127) bps     27.8 %     27.5 %   29 bps

    Fourth quarter 2024 DRE revenue of $398 million decreased by $37 million, or 9% sequentially, primarily from lower activity in Latin America, partly offset by higher international Wireline activity. Year-over-year DRE revenues increased by $16 million, or 4%, primarily from higher activity in North America and higher international Wireline activity, partly offset by lower activity in Latin America.

    Fourth quarter 2024 DRE segment adjusted EBITDA of $96 million decreased by $15 million, or 14% sequentially, primarily driven by lower activity in Latin America, partly offset by higher international Wireline activity. Year-over-year DRE segment adjusted EBITDA decreased by $1 million, or 1%, primarily due to lower activity in Latin America, partly offset by improved performance in Middle East/North Africa/Asia.

    Full year 2024 DRE revenues of $1,682 million increased by $146 million, or 10% compared to 2023, as higher Wireline and Drilling-related services activity were partly offset by lower Drilling Services in Latin America.

    Full year 2024 DRE segment adjusted EBITDA of $467 million increased by $45 million, or 11% compared to 2023, as higher MPD and Wireline activity were partly offset by lower activity in Latin America.

    Well Construction and Completions (“WCC”)

        Three Months Ended   Variance     Twelve Months Ended   Variance
    ($ in Millions)   Dec 31,
    2024
      Sep 30,
    2024
      Dec 31,
    2023
      Seq.     YoY   Dec 31,
    2024
      Dec 31,
    2023
      YoY
    Revenue   $ 505     $ 509     $ 480     (1 )%   5 %   $ 1,976     $ 1,800     10 %
    Segment Adjusted EBITDA   $ 148     $ 151     $ 131     (2 )%   13 %   $ 564     $ 455     24 %
    Segment Adj EBITDA Margin     29.3 %     29.7 %     27.3 %   (36) bps   202 bps     28.5 %     25.3 %   326 bps

    Fourth quarter 2024 WCC revenue of $505 million decreased by $4 million, or 1% sequentially, primarily due to lower activity in Europe/Sub-Sahara Africa/Russia, partly offset by higher Completions and TRS activity in Middle East/North Africa/Asia. Year-over-year WCC revenues increased by $25 million, or 5%, primarily due to higher activity in Middle East/North Africa/Asia and higher Liner Hangers and Well Services activity in Latin America, partly offset by lower activity in North America.

    Fourth quarter 2024 WCC segment adjusted EBITDA of $148 million decreased by $3 million, or 2% sequentially, primarily due to lower activity in Europe/Sub-Sahara Africa/Russia, partly offset by higher Completions and TRS activity in Middle East/North Africa/Asia. Year-over-year WCC segment adjusted EBITDA increased by $17 million, or 13%, primarily due to higher activity in Middle East/North Africa/Asia, partly offset by lower activity in Europe/Sub-Sahara Africa/Russia.

    Full year 2024 WCC revenues of $1,976 million increased by $176 million, or 10% compared to 2023, primarily from higher activity in Middle East/North Africa/Asia and Latin America, partly offset by lower activity in North America.

    Full year 2024 WCC segment adjusted EBITDA of $564 million increased by $109 million, or 24% compared to 2023, primarily due to improved fall through in major product lines across all geographies.

    Production and Intervention (“PRI”)

        Three Months Ended   Variance       Twelve Months Ended   Variance  
    ($ in Millions)   Dec 31,
    2024
      Sep 30,
    2024
      Dec 31,
    2023
      Seq.     YoY     Dec 31,
    2024
      Dec 31,
    2023
      YoY  
    Revenue   $ 364     $ 371     $ 386     (2 )%   (6 )%   $ 1,452     $ 1,472     (1 )%
    Segment Adjusted EBITDA   $ 78     $ 83     $ 88     (6 )%   (11 )%   $ 319     $ 323     (1 )%
    Segment Adj EBITDA Margin     21.4 %     22.4 %     22.8 %   (94) bps   (137) bps     22.0 %     21.9 %   3 bps

    Fourth quarter 2024 PRI revenue of $364 million decreased by $7 million, or 2% sequentially, primarily due to lower activity in Latin America and lower Intervention Services and Drilling Tools (ISDT) activity in Europe/Sub-Sahara Africa/Russia and North America. Year-over-year PRI revenue decreased by $22 million, or 6%, as lower activity in Middle East/North Africa/Asia and Latin America was partly offset by higher Artificial Lift activity in North America.

    Fourth quarter 2024 PRI segment adjusted EBITDA of $78 million, decreased by $5 million, or 6% sequentially, primarily from lower activity in Latin America and lower ISDT activity in Europe/Sub-Sahara Africa/Russia and North America, partly offset by higher Artificial Lift activity in Middle East/North Africa/Asia. Year-over-year PRI segment adjusted EBITDA decreased by $10 million, or 11% year-over-year, primarily due to lower activity in Latin America and Europe/Sub-Sahara Africa/Russia, partly offset by better ISDT and Artificial Lift fall through in North America.

    Full year 2024 PRI revenues of $1,452 million decreased by $20 million, or 1% compared to 2023, primarily due to lower international Pressure Pumping and Digital Solutions activity, partly offset by higher ISDT activity in Europe/Sub-Sahara Africa/Russia and Middle East/North Africa/Asia.

    Full year 2024 PRI segment adjusted EBITDA of $319 million decreased by $4 million, or 1% compared to 2023, as lower activity in international Pressure Pumping and Digital Solutions was partly offset by improved performance in Artificial Lift.

    Revenue by Geography

        Three Months Ended   Variance   Twelve Months Ended   Variance
    ($ in Millions)   Dec 31,
    2024
      Sep 30,
    2024
      Dec 31,
    2023
      Seq.   YoY   Dec 31,
    2024
      Dec 31,
    2023
      YoY
    North America   $ 261   $ 266   $ 248   (2 )%   5 %   $ 1,046   $ 1,068   (2 )%
                                     
    International   $ 1,080   $ 1,143   $ 1,114   (6 )%   (3 )%   $ 4,467   $ 4,067   10 %
    Latin America     312     358     342   (13 )%   (9 )%     1,393     1,387   %
    Middle East/North Africa/Asia     542     542     547   %   (1 )%     2,123     1,815   17 %
    Europe/Sub-Sahara Africa/Russia     226     243     225   (7 )%   %     951     865   10 %
    Total Revenue   $ 1,341   $ 1,409   $ 1,362   (5 )%   (2 )%   $ 5,513   $ 5,135   7 %


    North America

    Fourth quarter 2024 North America revenue of $261 million decreased by $5 million, or 2% sequentially, primarily due to activity decreases in the North and South regions, partly offset by activity increase offshore in the Gulf of Mexico. Year-over-year, North America increased by $13 million, or 5%, primarily from higher Artificial Lift and Wireline activity, partly offset by a decrease in activity across the WCC segment.

    Full year 2024 North America revenue of $1,046 million decreased by $22 million, or 2%, compared to 2023, primarily due to lower activity in the WCC and PRI segments, partly offset by higher Wireline activity.

    International

    Fourth quarter 2024 international revenue of $1,080 million decreased 6% sequentially and decreased 3% year-over-year, and full year 2024 international revenue of $4,467 million increased 10%, compared to 2023.

    Fourth quarter 2024 Latin America revenue of $312 million decreased by $46 million, or 13% sequentially, primarily due to lower Drilling-related Services, partly offset by higher Liner Hangers activity. Year-over-year, Latin America revenue decreased by $30 million, primarily due to lower activity in the DRE and PRI segments, partly offset by higher activity in Liner Hangers and Well Services.

    Full year 2024 Latin America revenue of $1,393 million was largely flat, compared to 2023.

    Fourth quarter 2024 revenue of $542 million in Middle East/North Africa/Asia was flat sequentially, as higher activity from Completions and Artificial Lift were largely offset by lower MPD and Integrated Services & Projects. Year-over-year, the Middle East/North Africa/Asia revenue decreased by $5 million, or 1%, primarily due to lower activity in the PRI segment, partly offset by higher Drilling-related services and Completions activity.

    Full year 2024 revenue of $2,123 million in Middle East/North Africa/Asia increased by $308 million, or 17%, compared to 2023, mainly due to increased activity in the DRE and WCC segments, partly offset by lower activity in Digital Solutions, Artificial Lift and Pressure Pumping.

    Fourth quarter 2024 Europe/Sub-Sahara Africa/Russia revenue of $226 million decreased by $17 million, or 7%, sequentially, mainly driven by lower Completions and ISDT activity, partly offset by higher Wireline activity. Year-over-year Europe/Sub-Sahara Africa/Russia revenue was largely flat due to increased activity in the DRE segment, largely offset by lower activity in the WCC and PRI segments.

    Full year 2024 Europe/Sub-Sahara Africa/Russia revenue of $951 million increased by $86 million, or 10% compared to 2023, due to increased activity in the DRE and WCC segments, partly offset by lower Pressure Pumping and Artificial Lift activity.

    About Weatherford
    Weatherford delivers innovative energy services that integrate proven technologies with advanced digitalization to create sustainable offerings for maximized value and return on investment. Our world-class experts partner with customers to optimize their resources and realize the full potential of their assets. Operators choose us for strategic solutions that add efficiency, flexibility, and responsibility to any energy operation. The Company conducts business in approximately 75 countries and has approximately 19,000 team members representing more than 110 nationalities and 330 operating locations. Visit weatherford.com for more information and connect with us on social media.

    Conference Call Details

    Weatherford will host a conference call on Thursday, February 6, 2025, to discuss the Company’s results for the fourth quarter ended December 31, 2024. The conference call will begin at 8:30 a.m. Eastern Time (7:30 a.m. Central Time).

    Listeners are encouraged to download the accompanying presentation slides which will be available in the investor relations section of the Company’s website.

    Listeners can participate in the conference call via a live webcast at https://www.weatherford.com/investor-relations/investor-news-and-events/events/ or by dialing +1 877-328-5344 (within the U.S.) or +1 412-902-6762 (outside of the U.S.) and asking for the Weatherford conference call. Participants should log in or dial in approximately 10 minutes prior to the start of the call.

    A telephonic replay of the conference call will be available until February 20, 2025, at 5:00 p.m. Eastern Time. To access the replay, please dial +1 877-344-7529 (within the U.S.) or +1 412-317-0088 (outside of the U.S.) and reference conference number 9530137. A replay and transcript of the earnings call will also be available in the investor relations section of the Company’s website.

    Contacts
    For Investors:
    Luke Lemoine
    Senior Vice President, Corporate Development & Investor Relations
    +1 713-836-7777
    investor.relations@weatherford.com

    For Media:
    Kelley Hughes
    Senior Director, Communications & Employee Engagement
    media@weatherford.com

    Forward-Looking Statements

    This news release contains projections and forward-looking statements concerning, among other things, the Company’s quarterly and full-year revenues, adjusted EBITDA*, adjusted EBITDA margin*, adjusted free cash flow*, net leverage*, shareholder return program, forecasts or expectations regarding business outlook, prospects for its operations, capital expenditures, expectations regarding future financial results, and are also generally identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “outlook,” “budget,” “intend,” “strategy,” “plan,” “guidance,” “may,” “should,” “could,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions, although not all forward-looking statements contain these identifying words. Such statements are based upon the current beliefs of Weatherford’s management and are subject to significant risks, assumptions, and uncertainties. Should one or more of these risks or uncertainties materialize, or underlying assumptions prove incorrect, actual results may vary materially from those indicated in our forward-looking statements. Readers are cautioned that forward-looking statements are only predictions and may differ materially from actual future events or results, based on factors including but not limited to: global political disturbances, war, terrorist attacks, changes in global trade policies and tariffs, weak local economic conditions and international currency fluctuations; general global economic repercussions related to U.S. and global inflationary pressures and potential recessionary concerns; various effects from conflicts in the Middle East and the Russia Ukraine conflict, including, but not limited to, nationalization of assets, extended business interruptions, sanctions, treaties and regulations imposed by various countries, associated operational and logistical challenges, and impacts to the overall global energy supply; cybersecurity issues; our ability to comply with, and respond to, climate change, environmental, social and governance and other sustainability initiatives and future legislative and regulatory measures both globally and in specific geographic regions; the potential for a resurgence of a pandemic in a given geographic area and related disruptions to our business, employees, customers, suppliers and other partners; the price and price volatility of, and demand for, oil and natural gas; the macroeconomic outlook for the oil and gas industry; our ability to generate cash flow from operations to fund our operations; our ability to effectively and timely adapt our technology portfolio, products and services to remain competitive, and to address and participate in changes to the market demands, including for the transition to alternate sources of energy such as geothermal, carbon capture and responsible abandonment, including our digitalization efforts; our ability to effectively execute our capital allocation framework; our ability to return capital to shareholders, including those related to the timing and amounts (including any plans or commitments in respect thereof) of any dividends and share repurchases; and the realization of additional cost savings and operational efficiencies.

    These risks and uncertainties are more fully described in Weatherford’s reports and registration statements filed with the Securities and Exchange Commission, including the risk factors described in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Accordingly, you should not place undue reliance on any of the Company’s forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law, and we caution you not to rely on them unduly.

    *Non-GAAP – refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled

    Weatherford International plc
    Selected Statements of Operations (Unaudited)
                         
        Three Months Ended   Year Ended
    ($ in Millions, Except Per Share Amounts)   December
    31, 2024
      September
    30, 2024
      December
    31, 2023
      December
    31, 2024
      December
    31, 2023
    Revenues:                    
    DRE Revenues   $ 398     $ 435     $ 382     $ 1,682     $ 1,536  
    WCC Revenues     505       509       480       1,976       1,800  
    PRI Revenues     364       371       386       1,452       1,472  
    All Other     74       94       114       403       327  
    Total Revenues     1,341       1,409       1,362       5,513       5,135  
                         
    Operating Income:                    
    DRE Segment Adjusted EBITDA[1]   $ 96     $ 111     $ 97     $ 467     $ 422  
    WCC Segment Adjusted EBITDA[1]     148       151       131       564       455  
    PRI Segment Adjusted EBITDA[1]     78       83       88       319       323  
    All Other[2]     11       23       13       84       38  
    Corporate[2]     (7 )     (13 )     (8 )     (52 )     (52 )
    Depreciation and Amortization     (83 )     (89 )     (83 )     (343 )     (327 )
    Share-based Compensation     (10 )     (10 )     (9 )     (45 )     (35 )
    Other Charges     (35 )     (13 )     (13 )     (56 )     (4 )
    Operating Income     198       243       216       938       820  
                         
    Other Expense:                    
    Interest Expense, Net of Interest Income of $12, $13, $12, $56 and $59     (25 )     (24 )     (31 )     (102 )     (123 )
    Loss on Blue Chip Swap Securities                       (10 )     (57 )
    Other Expense, Net     (4 )     (41 )     (36 )     (87 )   (134 )
    Income Before Income Taxes     169       178       149       739       506  
    Income Tax Provision     (45 )     (12 )     (2 )     (189 )     (57 )
    Net Income     124       166       147       550       449  
    Net Income Attributable to Noncontrolling Interests     12       9       7       44       32  
    Net Income Attributable to Weatherford   $ 112     $ 157     $ 140     $ 506     $ 417  
                         
    Basic Income Per Share   $ 1.54     $ 2.14     $ 1.94     $ 6.93     $ 5.79  
    Basic Weighted Average Shares Outstanding     72.6       73.2       72.1       73.0       71.9  
                         
    Diluted Income Per Share[3]   $ 1.50     $ 2.06     $ 1.90     $ 6.75     $ 5.66  
    Diluted Weighted Average Shares Outstanding     74.5       75.2       73.9       74.9       73.7  
                                             
    [1]   Segment adjusted EBITDA is our primary measure of segment profitability under U.S. GAAP ASC 280 “Segment Reporting” and represents segment earnings before interest, taxes, depreciation, amortization, share-based compensation and other adjustments. Research and development expenses are included in segment adjusted EBITDA.
    [2]   All Other includes results from non-core business activities (including integrated services and projects), and Corporate includes overhead support and centrally managed or shared facilities costs. All Other and Corporate do not individually meet the criteria for segment reporting.
    [3]   Included the maximum potentially dilutive shares contingently issuable for an acquisition consideration during the three months ended September 30, 2024, the value of which was adjusted out of Net Income Attributable to Weatherford in calculating diluted income per share.
    Weatherford International plc
    Selected Balance Sheet Data (Unaudited)
           
    ($ in Millions) December 31, 2024   December 31, 2023
    Assets:      
    Cash and Cash Equivalents $ 916   $ 958
    Restricted Cash   59     105
    Accounts Receivable, Net   1,261     1,216
    Inventories, Net   880     788
    Property, Plant and Equipment, Net   1,061     957
    Intangibles, Net   325     370
           
    Liabilities:      
    Accounts Payable   792     679
    Accrued Salaries and Benefits   302     387
    Current Portion of Long-term Debt   17     168
    Long-term Debt   1,617     1,715
           
    Shareholders’ Equity:      
    Total Shareholders’ Equity   1,283     922
               
    Weatherford International plc
    Selected Cash Flows Information (Unaudited)
                         
        Three Months Ended   Year Ended
    ($ in Millions)   December
    31, 2024
      September
    30, 2024
      December
    31, 2023
      December
    31, 2024
      December
    31, 2023
    Cash Flows From Operating Activities:                    
    Net Income   $ 124     $ 166     $ 147     $ 550     $ 449  
    Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities:                    
    Depreciation and Amortization     83       89       83       343       327  
    Foreign Exchange Losses (Gain)     (2 )     35       43       56       116  
    Loss on Blue Chip Swap Securities                       10       57  
    Gain on Disposition of Assets     (2 )     (1 )           (35 )     (11 )
    Deferred Income Tax Provision (Benefit)           (19 )     (19 )     8       (86 )
    Share-Based Compensation     10       10       9       45       35  
    Changes in Accounts Receivable, Inventory, Accounts Payable and Accrued Salaries and Benefits     24       30       151       (120 )     (84 )
    Other Changes, Net     12       (48 )     (39 )     (65 )     29  
    Net Cash Provided By Operating Activities     249       262       375       792       832  
                         
    Cash Flows From Investing Activities:                    
    Capital Expenditures for Property, Plant and Equipment     (100 )     (78 )     (67 )     (299 )     (209 )
    Proceeds from Disposition of Assets     13             7       31       28  
    Purchases of Blue Chip Swap Securities                       (50 )     (110 )
    Proceeds from Sales of Blue Chip Swap Securities                       40       53  
    Business Acquisitions, Net of Cash Acquired           (15 )           (51 )     (4 )
    Other Investing Activities     1       1       (71 )     36       (47 )
    Net Cash Used In Investing Activities     (86 )     (92 )     (131 )     (293 )     (289 )
                         
    Cash Flows From Financing Activities:                    
    Repayments of Long-term Debt     (23 )     (5 )     (80 )     (287 )     (386 )
    Distributions to Noncontrolling Interests     (20 )     (10 )     (31 )     (39 )     (52 )
    Tax Remittance on Equity Awards     (22 )           (2 )     (31 )     (56 )
    Share Repurchases     (49 )     (50 )           (99 )      
    Dividends Paid     (18 )     (18 )           (36 )      
    Other Financing Activities     (1 )     (6 )     (13 )     (19 )     (20 )
    Net Cash Used In Financing Activities   $ (133 )   $ (89 )   $ (126 )   $ (511 )   $ (514 )

                      

    Weatherford International plc
    Non-GAAP Financial Measures Defined (Unaudited)

    We report our financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, Weatherford’s management believes that certain non-GAAP financial measures (as defined under the SEC’s Regulation G and Item 10(e) of Regulation S-K) may provide users of this financial information additional meaningful comparisons between current results and results of prior periods and comparisons with peer companies. The non-GAAP amounts shown in the following tables should not be considered as substitutes for results reported in accordance with GAAP but should be viewed in addition to the Company’s reported results prepared in accordance with GAAP.

    Adjusted EBITDA* – Adjusted EBITDA* is a non-GAAP measure and represents consolidated income before interest expense, net, income taxes, depreciation and amortization expense, and excludes, among other items, restructuring charges, share-based compensation expense, as well as other charges and credits. Management believes adjusted EBITDA* is useful to assess and understand normalized operating performance and trends. Adjusted EBITDA* should be considered in addition to, but not as a substitute for consolidated net income and should be viewed in addition to the Company’s reported results prepared in accordance with GAAP.

    Adjusted EBITDA Margin* – Adjusted EBITDA margin* is a non-GAAP measure which is calculated by dividing consolidated adjusted EBITDA* by consolidated revenues. Management believes adjusted EBITDA margin* is useful to assess and understand normalized operating performance and trends. Adjusted EBITDA margin* should be considered in addition to, but not as a substitute for consolidated net income margin and should be viewed in addition to the Company’s reported results prepared in accordance with GAAP.

    Adjusted Free Cash Flow* – Adjusted Free Cash Flow* is a non-GAAP measure and represents cash flows provided by (used in) operating activities, less capital expenditures plus proceeds from the disposition of assets. Management believes adjusted free cash flow* is useful to understand our performance at generating cash and demonstrates our discipline around the use of cash. Adjusted free cash flow* should be considered in addition to, but not as a substitute for cash flows provided by operating activities and should be viewed in addition to the Company’s reported results prepared in accordance with GAAP.

    Net Debt* – Net Debt* is a non-GAAP measure that is calculated taking short and long-term debt less cash and cash equivalents and restricted cash. Management believes the net debt* is useful to assess the level of debt in excess of cash and cash and equivalents as we monitor our ability to repay and service our debt. Net debt* should be considered in addition to, but not as a substitute for overall debt and total cash and should be viewed in addition to the Company’s results prepared in accordance with GAAP.​

    Net Leverage* – Net Leverage* is a non-GAAP measure which is calculated by dividing by taking net debt* divided by adjusted EBITDA* for the trailing 12 months. Management believes the net leverage* is useful to understand our ability to repay and service our debt. Net leverage* should be considered in addition to, but not as a substitute for the individual components of above defined net debt* divided by consolidated net income attributable to Weatherford and should be viewed in addition to the Company’s reported results prepared in accordance with GAAP.

    *Non-GAAP – as defined above and reconciled to the GAAP measures in the section titled GAAP to Non-GAAP Financial Measures Reconciled

    Weatherford International plc
    GAAP to Non-GAAP Financial Measures Reconciled (Unaudited)
     
                         
        Three Months Ended   Year Ended
    ($ in Millions, Except Margin in Percentages)   December
    31, 2024
      September
    30, 2024
      December
    31, 2023
      December
    31, 2024
      December
    31, 2023
    Revenues   $ 1,341     $ 1,409     $ 1,362     $ 5,513     $ 5,135  
    Net Income Attributable to Weatherford   $ 112     $ 157     $ 140     $ 506     $ 417  
    Net Income Margin     8.4 %     11.1 %     10.3 %     9.2 %     8.1 %
    Adjusted EBITDA*   $ 326     $ 355     $ 321     $ 1,382     $ 1,186  
    Adjusted EBITDA Margin*     24.3 %     25.2 %     23.6 %     25.1 %     23.1 %
                         
    Net Income Attributable to Weatherford   $ 112     $ 157     $ 140     $ 506     $ 417  
    Net Income Attributable to Noncontrolling Interests     12       9       7       44       32  
    Income Tax Provision     45       12       2       189       57  
    Interest Expense, Net of Interest Income of $12, $13, $12, $56 and $59     25       24       31       102       123  
    Loss on Blue Chip Swap Securities                       10       57  
    Other Expense, Net     4       41       36       87       134  
    Operating Income     198       243       216       938       820  
    Depreciation and Amortization     83       89       83       343       327  
    Other Charges[1]     35       13       13       56       4  
    Share-Based Compensation     10       10       9       45       35  
    Adjusted EBITDA*   $ 326     $ 355     $ 321     $ 1,382     $ 1,186  
                         
    Net Cash Provided By Operating Activities   $ 249     $ 262     $ 375     $ 792     $ 832  
    Capital Expenditures for Property, Plant and Equipment     (100 )     (78 )     (67 )     (299 )     (209 )
    Proceeds from Disposition of Assets     13             7       31       28  
    Adjusted Free Cash Flow*   $ 162     $ 184     $ 315     $ 524     $ 651  
    [1]   Other charges in the three and twelve months ended December 31, 2024, primarily included severance and restructuring costs and fees to third-party financial institutions related to collections of certain receivables from our largest customer in Mexico.
         

    *Non-GAAP – as reconciled to the GAAP measures above and defined in the section titled Non-GAAP Financial Measures Defined

    Weatherford International plc
    GAAP to Non-GAAP Financial Measures Reconciled Continued (Unaudited)
     
                   
         
    ($ in Millions)   December
    31, 2024
      September
    30, 2024
      December
    31, 2023
     
    Current Portion of Long-term Debt   $ 17   $ 21   $ 168  
    Long-term Debt     1,617     1,627     1,715  
    Total Debt   $ 1,634   $ 1,648   $ 1,883  
                   
    Cash and Cash Equivalents   $ 916   $ 920   $ 958  
    Restricted Cash     59     58     105  
    Total Cash   $ 975   $ 978   $ 1,063  
                   
    Components of Net Debt              
    Current Portion of Long-term Debt   $ 17   $ 21   $ 168  
    Long-term Debt     1,617     1,627     1,715  
    Less: Cash and Cash Equivalents     916     920     958  
    Less: Restricted Cash     59     58     105  
    Net Debt*   $ 659   $ 670   $ 820  
                   
    Net Income for trailing 12 months   $ 506   $ 534   $ 417  
    Adjusted EBITDA* for trailing 12 months   $ 1,382   $ 1,377   $ 1,186  
                   
    Net Leverage* (Net Debt*/Adjusted EBITDA*)     0.48 x   0.49 x   0.69 x
                         

    *Non-GAAP – as reconciled to the GAAP measures above and defined in the section titled Non-GAAP Financial Measures Defined

    The MIL Network

  • MIL-OSI: LiveRamp Announces Results for Third Quarter FY25

    Source: GlobeNewswire (MIL-OSI)

    Revenue up 12% Year-Over-Year

    Fourth Consecutive Quarter of Double-Digit Revenue Growth

    Fiscal YTD Operating Cash Flow up 17% Year-Over-Year

    SAN FRANCISCO, Feb. 05, 2025 (GLOBE NEWSWIRE) — LiveRamp® (NYSE: RAMP), the leading data collaboration platform, today announced its financial results for the fiscal 2025 third quarter ended December 31, 2024.

    Q3 Financial Highlights1

    • Total revenue was $195 million, up 12%.
    • Subscription revenue was $146 million, up 10%.
    • Marketplace & Other revenue was $50 million, up 20%.
    • GAAP gross profit was $140 million, up 9%. GAAP gross margin compressed by two percentage points to 72%. Non-GAAP gross profit was $146 million, up 11%. Non-GAAP gross margin compressed by one percentage point to 74%.
    • GAAP operating income was $15 million, in-line with the prior year. GAAP operating margin compressed by one percentage point to 8%. Non-GAAP operating income was $45 million, up 24%. Non-GAAP operating margin expanded by two percentage points to 23%.
    • GAAP and Non-GAAP diluted earnings per share were $0.17 and $0.55, respectively.
    • Net cash provided by operating activities was $45 million, up from $17 million.
    • Third quarter share repurchases totaled approximately 368,000 shares for $10 million. Fiscal year to date through December 31, 2024 share repurchases totaled approximately 2.8 million shares for $76 million.

    A reconciliation between GAAP and non-GAAP results is provided in the schedules in this press release.

    Commenting on the results, CEO Scott Howe said, “We posted a strong quarter, with revenue and operating income exceeding our expectations, and revenue growing at a double-digit rate for the fourth consecutive quarter. Our sales momentum improved appreciably in the third quarter as our Data Collaboration Platform and clean room solution are resonating with customers. This confirms the substantial market demand for our platform that helps customers efficiently use their first-party data to deliver, measure and optimize their digital advertising.”

    GAAP and Non-GAAP Results
    The following table summarizes the Company’s financial results for the fiscal 2025 third quarter ended December 31, 2024 ($ in millions, except per share amounts):

    _________________________

    1 Unless otherwise indicated, all comparisons are to the prior year period.

           
      GAAP   Non-GAAP
      Q3 FY25 Q3 FY24   Q3 FY25 Q3 FY24
    Subscription revenue $146 $132  
    YoY change % 10% 5%  
    Marketplace & Other revenue $50 $42  
    YoY change % 20% 29%  
    Total revenue $195 $174  
    YoY change % 12% 10%  
               
    Gross profit $140 $129   $146 $131
    % Gross margin 72% 74%   74% 75%
    YoY change, pts (2 pts) 1 pt   (1 pt) (1 pt)
               
    Operating income $15 $15   $45 $36
    % Operating margin 8% 9%   23% 21%
    YoY change, pts (1 pt) 24 pts   2 pts 5 pts
               
    Net earnings $11 $14   $37 $32
    Diluted earnings per share $0.17 $0.21   $0.55 $0.47
               
    Shares to calculate diluted EPS 66.7 67.9   66.7 67.9
    YoY change % (2%) 5%   (2%) 4%
               
    Operating cash flow $45 $17  
    Free cash flow   $45 $14
               
    Totals and year-over-year changes may not reconcile due to rounding.
     

    A detailed discussion of our non-GAAP financial measures and a reconciliation between GAAP and non-GAAP results is provided in the schedules in this press release.

    Additional Business Highlights & Metrics

    • On February 25, 2025 we will host an investor day presentation in San Francisco (additional information). The event coincides with RampUp 2025, our annual customer and partner conference on February 25-27, 2025 (additional information).
    • In November 2024 we announced an expansion of the Quick Start Insights available on our Data Collaboration Platform to now offer media intelligence across a network of premium publishers. These standardized insights enable our customers to more quickly access and deploy media performance metrics — such as audience overlaps, optimal frequency, and last-touch attribution — from premium publisher and CTV data. As a result, LiveRamp customers now have a simplified way to enhance media buying and planning strategies and increase the time-to-value from clean room partnerships.
    • In January 2025 we announced in partnership with Mohegan, a leader in casino and entertainment destinations, the industry’s first casino media network. For the first time, brands can access Mohegan’s rich first-party insights to reach guests and players in addition to the ability to measure campaigns across the casino’s digital channels and on-premise experiences – such as in-app, loyalty programs, slot machines, and kiosks (additional information).
    • LiveRamp ended the quarter with 125 customers whose annualized subscription revenue exceeds $1 million, compared to 105 in the prior year period.
    • LiveRamp ended the quarter with 865 direct subscription customers, compared to 895 in the prior year period.
    • Subscription net retention was 108% and platform net retention was 111% for the quarter.
    • Annual recurring revenue (ARR), which is the last month of the quarter fixed subscription revenue annualized, was $491 million, up 10% compared to the prior year period.
    • Current remaining performance obligations (CRPO), which is contracted and committed revenue expected to be recognized over the next 12 months, was $434 million, up 13% compared to the prior year period.

    Financial Outlook

    LiveRamp’s non-GAAP operating income guidance excludes the impact of non-cash stock compensation, purchased intangible asset amortization, and restructuring and related charges.

    For the fourth quarter of fiscal 2025, LiveRamp expects to report:

    • Revenue of between $184 million and $186 million, an increase of between 7% and 8%
    • GAAP operating loss of $8 million
    • Non-GAAP operating income of $22 million

    For fiscal 2025, LiveRamp increases its guidance and expects to report:

    • Revenue of between $741 million and $743 million, an increase of between 12% and 13%
    • GAAP operating income of $10 million
    • Non-GAAP operating income of $135 million

    Conference Call

    LiveRamp will hold a conference call today at 1:30 p.m. PT (4:30 p.m. ET) to further discuss this information. Interested parties are invited to listen to a webcast of the conference, which can be accessed on LiveRamp’s investor site. A slide presentation will be referenced during the call and is available here.

    About LiveRamp

    LiveRamp is a global technology company that helps companies build enduring brand and business value by collaborating responsibly with data. A groundbreaking leader in foundational identity, LiveRamp offers a connected customer view with clarity and context while protecting brand and consumer trust. We offer flexibility to collaborate wherever data lives to support a wide range of data collaboration use cases—within organizations, between brands, and across our global network of premier partners. Global innovators, from iconic consumer brands and tech platforms to retailers, financial services, and healthcare leaders, turn to LiveRamp to deepen customer engagement and loyalty, activate new partnerships, and maximize the value of their first-party data while staying on the forefront of rapidly evolving compliance and privacy requirements. LiveRamp is based in San Francisco, California with offices worldwide. Learn more at LiveRamp.com.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended (the “PSLRA”). These statements, which are not statements of historical fact, may contain estimates, assumptions, projections and/or expectations regarding the Company’s financial position, results of operations for fiscal 2025 and beyond, market position, product development, growth opportunities, economic conditions, and other similar forecasts and statements of expectation. Forward-looking statements are often identified by words or phrases such as “anticipate,” “estimate,” “plan,” “expect,” “believe,” “intend,” “foresee,” or the negative of these terms or other similar variations thereof.

    These forward-looking statements are not guarantees of future performance and are subject to a number of factors and uncertainties that could cause the Company’s actual results and experiences to differ materially from the anticipated results and expectations expressed in the forward-looking statements.

    Among the factors that may cause actual results and expectations to differ from anticipated results and expectations expressed in forward-looking statements are uncertainties related to high interest rates, cost increases, the possibility of a recession, general inflationary pressure, geo-political circumstances that could result in increased economic uncertainties and the associated impacts of these potential events on our suppliers, customers and partners; the Company’s dependence upon customer renewals, new customer additions and upsell within our subscription business; our reliance upon partners, including data suppliers; competition; rapidly changing technology’s impact on our products and services; the risk that we fail to realize the potential benefits of or have difficulty integrating acquired businesses (including Habu); and attracting, motivating and retaining talent. Additional risks include maintaining our culture and our ability to innovate and evolve while operating in a hybrid work environment, with some employees working remotely at least some of the time within a rapidly changing industry, while also avoiding disruption from reductions in our current workforce as well as disruptions resulting from acquisition, divestiture and other activities affecting our workforce. Our global workforce strategy could possibly encounter difficulty and not be as beneficial as planned. Our international operations are also subject to risks, including the performance of third parties as well as impacts from war and civil unrest, that may harm the Company’s business. The risk of a significant breach of the confidentiality of the information or the security of our or our customers’, suppliers’, or other partners’ data and/or computer systems, or the risk that our current insurance coverage may not be adequate for such a breach, that an insurer might deny coverage for a claim or that such insurance will continue to be available to us on commercially reasonable terms, or at all, could be detrimental to our business, reputation and results of operations. Other business risks include unfavorable publicity and negative public perception about our industry; interruptions or delays in service from data center or cloud hosting vendors we rely upon; and our dependence on the continued availability of third-party data hosting and transmission services. Our clients’ ability to use data on our platform could be restricted if the industry’s use of third-party cookies and tracking technology declines due to technology platform changes, regulation or increased user controls. Continued changes in the judicial, legislative, regulatory, accounting, cultural and consumer environments affecting our business, including but not limited to litigation, investigations, legislation, regulations and customs at the state, federal and international levels relating to information collection and use represents a risk, as well as changes in tax laws and regulations that are applied to our customers which could cause enterprise software budget tightening. In addition, third parties may claim that we are infringing their intellectual property or may infringe our intellectual property which could result in competitive injury and / or the incurrence of significant costs and draining of our resources.

    For a discussion of these and other risks and uncertainties that could affect LiveRamp’s business, reputation, results of operation, financial condition and stock price, please refer to LiveRamp’s filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of LiveRamp’s most recently filed Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and subsequent filings.

    The financial information set forth in this press release reflects estimates based on information available at this time.

    LiveRamp assumes no obligation and does not currently intend to update these forward-looking statements.

    To automatically receive LiveRamp financial news by email, please visit www.LiveRamp.com and subscribe to email alerts.

    For more information, contact:

    LiveRamp Investor Relations
    Investor.Relations@LiveRamp.com

    LiveRamp® and RampID™ and all other LiveRamp marks contained herein are trademarks or service marks of LiveRamp, Inc. All other marks are the property of their respective owners.

    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (Unaudited)
    (Dollars in thousands, except per share amounts)
                 
      For the three months ended December 31,
              $ %
      2024   2023   Variance Variance
                 
    Revenues 195,412   173,869   21,543   12.4 %
    Cost of revenue 54,998   44,934   10,064   22.4 %
    Gross profit 140,414   128,935   11,479   8.9 %
    % Gross margin 71.9%   74.2%      
                 
    Operating expenses            
    Research and development 42,735   37,788   4,947   13.1 %
    Sales and marketing 50,863   46,203   4,660   10.1 %
    General and administrative 31,994   27,241   4,753   17.4 %
    Gains, losses and other items, net 149   2,502   (2,353 ) (94.0 )%
    Total operating expenses 125,741   113,734   12,007   10.6 %
                 
    Income from operations 14,673   15,201   (528 ) (3.5 )%
    % Margin 7.5%   8.7%      
                 
    Total other income, net 4,033   6,607   (2,574 ) (39.0 )%
                 
    Income from continuing operations before income taxes 18,706   21,808   (3,102 ) (14.2 )%
    Income tax expense 9,184   8,429   755   9.0 %
    Net earnings from continuing operations 9,522   13,379   (3,857 ) (28.8 )%
                 
    Earnings from discontinued operations, net of tax 1,688   598   1,090   182.3 %
                 
    Net earnings 11,210   13,977   (2,767 ) (19.8 )%
                 
    Basic earnings per share:            
    Continuing operations 0.15   0.20   (0.06 ) (28.5 )%
    Discontinued operations 0.03   0.01   0.02   183.6 %
    Basic earnings per share 0.17   0.21   (0.04 ) (19.4 )%
                 
    Diluted earnings per share:            
    Continuing operations 0.14   0.20   (0.05 ) (27.5 )%
    Discontinued operations 0.03   0.01   0.02   187.4 %
    Diluted earnings per share 0.17   0.21   (0.04 ) (18.4 )%
                 
    Basic weighted average shares 65,631   65,961      
    Diluted weighted average shares 66,743   67,943      
                 
                 
    Some totals may not sum due to rounding.            
                 
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (Unaudited)
    (Dollars in thousands, except per share amounts)
                 
      For the nine months ended December 31,
              $ %
      2024    2023    Variance Variance
                 
    Revenues 556,856   487,809   69,047   14.2 %
    Cost of revenue 157,981   131,767   26,214   19.9 %
    Gross profit 398,875   356,042   42,833   12.0 %
    % Gross margin 71.6 %   73.0 %      
                 
    Operating expenses            
    Research and development 130,742   106,040   24,702   23.3 %
    Sales and marketing 156,145   135,217   20,928   15.5 %
    General and administrative 94,324   79,914   14,410   18.0 %
    Gains, losses and other items, net 752   9,192   (8,440 ) (91.8 )%
    Total operating expenses 381,963   330,363   51,600   15.6 %
                 
    Income from operations 16,912   25,679   (8,767 ) (34.1 )%
    % Margin 3.0 %   5.3 %      
                 
    Total other income, net 12,674   17,887   (5,213 ) (29.1 )%
                 
    Income from continuing operations before income taxes 29,586   43,566   (13,980 ) (32.1 )%
    Income tax expense 25,821   27,297   (1,476 ) (5.4 )%
    Net earnings from continuing operations 3,765   16,269   (12,504 ) (76.9 )%
                 
    Earnings from discontinued operations, net of tax 1,688   985   703   71.4 %
                 
    Net earnings 5,453   17,254   (11,801 ) (68.4 )%
                 
    Basic earnings per share:            
    Continuing operations 0.06   0.25   (0.19 ) (76.8 )%
    Discontinued operations 0.03   0.01   0.01   71.5 %
    Basic earnings per share 0.08   0.26   (0.18 ) (68.4 )%
                 
    Diluted earnings per share:            
    Continuing operations 0.06   0.24   (0.18 ) (76.8 )%
    Discontinued operations 0.03   0.01   0.01   71.9 %
    Diluted earnings per share 0.08   0.25   (0.17 ) (68.3 )%
                 
    Basic weighted average shares 66,182   66,247      
    Diluted weighted average shares 67,505   67,733      
                 
                 
    Some totals may not sum due to rounding.            
                 
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    RECONCILIATION OF GAAP TO NON-GAAP EPS (1)
    (Unaudited)
    (Dollars in thousands, except per share amounts)
                   
      For the three months ended
    December 31,
      For the nine months ended
    December 31,
      2024   2023   2024   2023
                   
    Income from continuing operations before income taxes 18,706   21,808   29,586   43,566
    Income tax expense 9,184   8,429   25,821   27,297
    Net earnings from continuing operations 9,522   13,379   3,765   16,269
    Earnings from discontinued operations, net of tax 1,688   598   1,688   985
    Net earnings 11,210   13,977   5,453   17,254
                   
    Basic earnings per share 0.17   0.21   0.08   0.26
    Diluted earnings per share 0.17   0.21   0.08   0.25
                   
    Excluded items:              
    Purchased intangible asset amortization (cost of revenue) 3,686   1,181   11,280   5,688
    Non-cash stock compensation (cost of revenue and operating expenses) 26,760   17,497   83,813   46,524
    Restructuring and merger charges (gains, losses, and other) 149   2,502   752   9,192
    Transformation costs (general and administrative)       1,875
    Total excluded items from continuing operations 30,595   21,180   95,845   63,279
                   
    Income from continuing operations before income taxes and excluding items 49,301   42,988   125,431   106,845
    Income tax expense (2) 12,421   10,732   30,537   25,935
    Non-GAAP net earnings from continuing operations 36,880   32,256   94,894   80,910
                   
    Non-GAAP earnings per share from continuing operations              
    Basic 0.56   0.49   1.43   1.22
    Diluted 0.55   0.47   1.41   1.19
                   
    Basic weighted average shares 65,631   65,961   66,182   66,247
    Diluted weighted average shares 66,743   67,943   67,505   67,733
                   
                   
    (1) This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures and the material limitations on the usefulness of these measures, please see Appendix A.
                   
    (2) Non-GAAP income taxes were calculated by applying the estimated annual effective tax rate to year-to-date pretax income or loss and adjusting for discrete tax items in the period. The differences between our GAAP and non-GAAP effective tax rates were primarily due to the net tax effects of the excluded items, coupled with the valuation allowance and smaller pre-tax income for GAAP purposes.
                   
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    RECONCILIATION OF GAAP TO NON-GAAP INCOME FROM OPERATIONS (1)
    (Unaudited)
    (Dollars in thousands)
                   
      For the three months ended
    December 31,
      For the nine months ended
    December 31,
      2024   2023   2024   2023
                   
    Income from operations 14,673   15,201   16,912   25,679
                   
    Excluded items:              
    Purchased intangible asset amortization (cost of revenue) 3,686   1,181   11,280   5,688
    Non-cash stock compensation (cost of revenue and operating expenses) 26,760   17,497   83,813   46,524
    Restructuring and merger charges (gains, losses, and other) 149   2,502   752   9,192
    Transformation costs (general and administrative)       1,875
    Total excluded items 30,595   21,180   95,845   63,279
                   
    Income from operations before excluded items 45,268   36,381   112,757   88,958
                   
                   
    (1) This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures and the material limitations on the usefulness of these measures, please see Appendix A.
                   
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    RECONCILIATION OF ADJUSTED EBITDA (1)
    (Unaudited)
    (Dollars in thousands)
                   
      For the three months ended
    December 31,
      For the nine months ended
    December 31,
      2024   2023   2024   2023
                   
    Net earnings from continuing operations 9,522   13,379   3,765   16,269
    Income tax expense 9,184   8,429   25,821   27,297
    Total other income, net (4,033)   (6,607)   (12,674)   (17,887)
                   
    Income from operations 14,673   15,201   16,912   25,679
    Depreciation and amortization 4,400   1,782   13,404   7,685
                   
    EBITDA 19,073   16,983   30,316   33,364
                   
    Other adjustments:              
    Non-cash stock compensation (cost of revenue and operating expenses) 26,760   17,497   83,813   46,524
    Restructuring and merger charges (gains, losses, and other) 149   2,502   752   9,192
    Transformation costs (general and administrative)       1,875
                   
    Other adjustments 26,909   19,999   84,565   57,591
                   
    Adjusted EBITDA 45,982   36,982   114,881   90,955
                   
                   
    (1) This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures, the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A.
                   
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (Dollars in thousands)
                 
      December 31   March 31   $ %
      2024   2024   Variance Variance
    Assets            
    Current assets:            
    Cash and cash equivalents 376,772   336,867   39,905 11.8 %
    Restricted cash 593   2,604   (2,011) (77.2 )%
    Short-term investments 7,500   32,045   (24,545) (76.6 )%
    Trade accounts receivable, net 210,565   190,313   20,252 10.6 %
    Refundable income taxes, net 6,630   8,521   (1,891) (22.2 )%
    Other current assets 41,747   31,682   10,065 31.8 %
    Total current assets 643,807   602,032   41,775 6.9 %
                 
    Property and equipment 24,099   25,394   (1,295) (5.1 )%
    Less – accumulated depreciation and amortization 17,440   17,213   227 1.3 %
    Property and equipment, net 6,659   8,181   (1,522) (18.6 )%
                 
    Intangible assets, net 23,302   34,583   (11,281) (32.6 )%
    Goodwill 501,559   501,756   (197) (0.0 )%
    Deferred commissions, net 44,497   48,143   (3,646) (7.6 )%
    Other assets, net 33,389   36,748   (3,359) (9.1 )%
      1,253,213   1,231,443   21,770 1.8 %
                 
    Liabilities and Stockholders’ Equity            
    Current liabilities:            
    Trade accounts payable 105,334   81,202   24,132 29.7 %
    Accrued payroll and related expenses 35,639   61,575   (25,936) (42.1 )%
    Other accrued expenses 45,856   42,857   2,999 7.0 %
    Deferred revenue 44,795   30,942   13,853 44.8 %
    Total current liabilities 231,624   216,576   15,048 6.9 %
                 
    Other liabilities 63,882   65,732   (1,850) (2.8 )%
                 
    Stockholders’ equity:            
    Preferred stock     n/a  
    Common stock 15,853   15,594   259 1.7 %
    Additional paid-in capital 2,022,227   1,933,776   88,451 4.6 %
    Retained earnings 1,319,625   1,314,172   5,453 0.4 %
    Accumulated other comprehensive income 3,493   3,964   (471) (11.9 )%
    Treasury stock, at cost (2,403,491)   (2,318,371)   (85,120) 3.7 %
    Total stockholders’ equity 957,707   949,135   8,572 0.9 %
      1,253,213   1,231,443   21,770 1.8 %
                 
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited)
    (Dollars in thousands)
      For the three months ended December 31,
      2024   2023
    Cash flows from operating activities:      
    Net earnings 11,210   13,977
    Earnings from discontinued operations, net of tax (1,688)   (598)
    Non-cash operating activities:      
    Depreciation and amortization 4,400   1,782
    Loss on disposal or impairment of assets 99   911
    Provision for doubtful accounts (97)   544
    Deferred income taxes 11   (47)
    Non-cash stock compensation expense 26,760   17,497
    Changes in operating assets and liabilities:      
    Accounts receivable, net (19,013)   (24,778)
    Deferred commissions (1,042)   (4,235)
    Other assets (6,596)   (4,831)
    Accounts payable and other liabilities 23,829   21,639
    Income taxes (1,617)   (14,139)
    Deferred revenue 8,861   8,834
    Net cash provided by operating activities 45,117   16,556
    Cash flows from investing activities:      
    Capital expenditures (282)   (2,211)
    Cash paid in acquisitions, net of cash received (1,951)  
    Proceeds from sales of investments 1,994  
    Purchases of strategic investments (1,000)  
    Net cash used in investing activities (1,239)   (2,211)
    Cash flows from financing activities:      
    Proceeds related to the issuance of common stock under stock and employee benefit plans 2,304   1,646
    Shares repurchased for tax withholdings upon vesting of stock-based awards (1,565)   (547)
    Acquisition of treasury stock (10,098)   (10,000)
    Net cash used in financing activities (9,359)   (8,901)
    Cash flows from discontinued operations:      
    From operating activities 2,486   598
    Effect of exchange rate changes on cash (1,217)   735
           
    Net change in cash, cash equivalents and restricted cash 35,788   6,777
    Cash, cash equivalents and restricted cash at beginning of period 341,577   492,169
    Cash, cash equivalents and restricted cash at end of period 377,365   498,946
           
    Supplemental cash flow information:      
    Cash paid for income taxes, net from continuing operations 10,990   22,699
    Cash received for income taxes, net from discontinued operations (2,486)   (912)
    Cash paid for operating lease liabilities 2,495   2,551
           
    Non-cash investing and financing activities:      
    Operating lease assets obtained in exchange for operating lease liabilities 1,284  
    Purchases of property, plant and equipment remaining unpaid at period end 85   1,218
    Excise tax payable on net stock repurchases 64  
           
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited)
    (Dollars in thousands)
      For the nine months ended
    December 31,
      2024   2023
    Cash flows from operating activities:      
    Net earnings 5,453   17,254
    Earnings from discontinued operations, net of tax (1,688)   (985)
    Non-cash operating activities:      
    Depreciation and amortization 13,404   7,685
    Loss on disposal or impairment of assets 119   1,213
    Lease-related impairment and restructuring charges (36)   2,315
    Provision for doubtful accounts 1,148   307
    Impairment of goodwill   2,875
    Deferred income taxes 49   40
    Non-cash stock compensation expense 83,813   46,524
    Changes in operating assets and liabilities:      
    Accounts receivable, net (21,640)   (41,036)
    Deferred commissions 3,645   (7,142)
    Other assets (2,598)   912
    Accounts payable and other liabilities (8,165)   8,754
    Income taxes 3,953   29,560
    Deferred revenue 13,928   9,737
    Net cash provided by operating activities 91,385   78,013
    Cash flows from investing activities:      
    Capital expenditures (749)   (2,464)
    Cash paid in acquisitions, net of cash received (1,951)  
    Purchases of investments (1,967)   (24,385)
    Proceeds from sales of investments 26,989   25,750
    Purchases of strategic investments (1,400)   (1,000)
    Net cash provided by (used in) investing activities 20,922   (2,099)
    Cash flows from financing activities:      
    Proceeds related to the issuance of common stock under stock and employee benefit plans 8,631   7,221
    Shares repurchased for tax withholdings upon vesting of stock-based awards (9,305)   (5,116)
    Acquisition of treasury stock (75,751)   (45,325)
    Net cash used in financing activities (76,425)   (43,220)
    Cash flows from discontinued operations:      
    From operating activities 2,486   985
    Effect of exchange rate changes on cash (474)   819
           
    Net change in cash, cash equivalents and restricted cash 37,894   34,498
    Cash, cash equivalents and restricted cash at beginning of period 339,471   464,448
    Cash, cash equivalents and restricted cash at end of period 377,365   498,946
           
    Supplemental cash flow information:      
    Cash paid (received) for income taxes, net from continuing operations 21,990   (2,440)
    Cash received for income taxes, net from discontinued operations (2,486)   (1,507)
    Cash received for tenant improvement allowances (1,758)  
    Cash paid for operating lease liabilities 7,372   7,699
           
    Non-cash investing and financing activities:      
    Operating lease assets obtained in exchange for operating lease liabilities 2,327   11,677
    Operating lease assets, and related lease liabilities, relinquished in lease terminations (555)   (4,486)
    Purchases of property, plant and equipment remaining unpaid at period end 85   1,218
    Excise tax payable on net stock repurchases 64  
           
    LIVERAMP HOLDINGS, INC AND SUBSIDIARIES
    CALCULATION OF FREE CASH FLOW (1)
    (Unaudited)
    (Dollars in thousands)
                           
                           
        6/30/2023 9/30/2023 12/31/2023 3/31/2024 FY2024   6/30/2024 9/30/2024 12/31/2024 FY2025
                           
    Net cash provided by (used in) operating activities $ 25,693   $ 35,764   $ 16,556   $ 27,643   $ 105,656     $ (9,328 ) $ 55,596   $ 45,117   $ 91,385  
                           
    Less:                    
      Capital expenditures   (53 )   (200 )   (2,211 )   (1,791 )   (4,255 )     (226 )   (241 )   (282 )   (749 )
                           
    Free Cash Flow $ 25,640   $ 35,564   $ 14,345   $ 25,852   $ 101,401     $ (9,554 ) $ 55,355   $ 44,835   $ 90,636  
                           
                           
    (1) This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures and the material limitations on the usefulness of these measures, please see Appendix A.
                           
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (Unaudited)
    (Dollars in thousands, except per share amounts)
                            Qtr-to-Qtr
      FY2024   FY2025   FY2025 to FY2024
      6/30/2023 9/30/2023 12/31/2023 3/31/2024 FY2024   6/30/2024 9/30/2024 12/31/2024 FY2025   % $
                               
    Revenues   154,069     159,871     173,869     171,852     659,661       175,961     185,483     195,412     556,856     12.4%   21,543  
    Cost of revenue   45,621     41,212     44,934     47,722     179,489       51,749     51,234     54,998     157,981     22.4%   10,064  
    Gross profit   108,448     118,659     128,935     124,130     480,172       124,212     134,249     140,414     398,875     8.9%   11,479  
    % Gross margin   70.4 %     74.2 %     74.2 %     72.2 %     72.8 %       70.6 %     72.4 %     71.9 %     71.6 %        
                               
    Operating expenses                          
    Research and development   34,519     33,733     37,788     45,161     151,201       44,118     43,889     42,735     130,742     13.1%   4,947  
    Sales and marketing   44,879     44,135     46,203     60,476     195,693       54,175     51,107     50,863     156,145     10.1%   4,660  
    General and administrative   26,664     26,009     27,241     30,252     110,166       30,961     31,369     31,994     94,324     17.4%   4,753  
    Gains, losses and other items, net   116     6,574     2,502     2,516     11,708       206     397     149     752     (94.0)%   (2,353)  
    Total operating expenses   106,178     110,451     113,734     138,405     468,768       129,460     126,762     125,741     381,963     10.6%   12,007  
                               
    Income (loss) from operations   2,270     8,208     15,201     (14,275)     11,404       (5,248)     7,487     14,673     16,912     (3.5)%   (528)  
    % Margin   5.0 %     24.3 %     40.2 %     (31.6)%     1.7 %       (3.0)%     4.0 %     7.5 %     3.0 %        
                               
    Total other income, net   4,849     6,431     6,607     5,070     22,957       4,444     4,197     4,033     12,674     (39.0)%   (2,574)  
                               
    Income (loss) from continuing operations before income taxes   7,119     14,639     21,808     (9,205)     34,361       (804)     11,684     18,706     29,586     (14.2)%   (3,102)  
    Income tax expense (benefit)   8,705     10,163     8,429     (3,027)     24,270       6,685     9,952     9,184     25,821     9.0%   755  
    Net earnings (loss) from continuing operations   (1,586)     4,476     13,379     (6,178)     10,091       (7,489)     1,732     9,522     3,765     (28.8)%   (3,857)  
                               
    Earnings from discontinued operations, net of tax       387     598     805     1,790               1,688     1,688     182.3%   1,090  
                               
    Net earnings (loss) $ (1,586)   $ 4,863   $ 13,977   $ (5,373)   $ 11,881     $ (7,489)   $ 1,732   $ 11,210   $ 5,453     (19.8)%   (2,767)  
                               
    Basic earnings (loss) per share:                          
    Continuing Operations   (0.02)     0.07     0.20     (0.09)     0.15       (0.11)     0.03     0.15     0.06     (28.5)%   (0.06)  
    Discontinued Operations   0.00     0.01     0.01     0.01     0.03       0.00     0.00     0.03     0.03     183.7%   0.02  
    Basic earnings (loss) per share   (0.02)     0.07     0.21     (0.08)     0.18       (0.11)     0.03     0.17     0.08     (19.4)%   (0.04)  
                               
    Diluted earnings (loss) per share:                          
    Continuing Operations   (0.02)     0.07     0.20     (0.09)     0.15       (0.11)     0.03     0.14     0.06     (27.5)%   (0.05)  
    Discontinued Operations   0.00     0.01     0.01     0.01     0.03       0.00     0.00     0.03     0.03     187.3%   0.02  
    Diluted earnings (loss) per share   (0.02)     0.07     0.21     (0.08)     0.17       (0.11)     0.03     0.17     0.08     (18.4)%   (0.04)  
                               
                               
    Basic weighted average shares   66,497     66,284     65,961     66,323     66,266       66,621     66,294     65,631     66,182        
    Diluted weighted average shares   66,497     67,868     67,943     66,323     67,918       66,621     67,309     66,743     67,505        
                               
    Some earnings (loss) per share amounts may not add due to rounding.                
                               
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    RECONCILIATION OF GAAP TO NON-GAAP EXPENSES (1)
    (Unaudited)
    (Dollars in thousands)
      FY2024   FY2025
      6/30/2023 9/30/2023 12/31/2023 3/31/2024 FY2024   6/30/2024 9/30/2024 12/31/2024 FY2025
    Expenses:                    
    Cost of revenue 45,621   41,212   44,934   47,722   179,489     51,749   51,234   54,998   157,981  
    Research and development 34,519   33,733   37,788   45,161   151,201     44,118   43,889   42,735   130,742  
    Sales and marketing 44,879   44,135   46,203   60,476   195,693     54,175   51,107   50,863   156,145  
    General and administrative 26,664   26,009   27,241   30,252   110,166     30,961   31,369   31,994   94,324  
    Gains, losses and other items, net 116   6,574   2,502   2,516   11,708     206   397   149   752  
                         
    Gross profit, continuing operations: 108,448   118,659   128,935   124,130   480,172     124,212   134,249   140,414   398,875  
    % Gross margin 70.4%   74.2%   74.2%   72.2%   72.8%     70.6%   72.4%   71.9%   71.6%  
                         
    Excluded items:                    
    Purchased intangible asset amortization (cost of revenue) 3,290   1,217   1,181   3,097   8,785     3,846   3,748   3,686   11,280  
    Non-cash stock compensation (cost of revenue) 629   629   817   1,478   3,553     1,596   1,499   1,455   4,550  
    Non-cash stock compensation (research and development) 5,077   5,293   6,960   9,859   27,189     10,205   10,920   10,085   31,210  
    Non-cash stock compensation (sales and marketing) 3,736   4,786   4,089   6,337   18,948     7,093   7,383   7,278   21,754  
    Non-cash stock compensation (general and administrative) 3,850   5,027   5,631   7,106   21,614     9,091   9,266   7,942   26,299  
    Restructuring charges (gains, losses, and other) 116   6,574   2,502   2,516   11,708     206   397   149   752  
    Transformation costs (general and administrative) 1,875         1,875            
    Total excluded items 18,573   23,526   21,180   30,393   93,672     32,037   33,213   30,595   95,845  
                         
    Expenses, excluding items:                    
    Cost of revenue 41,702   39,366   42,936   43,147   167,151     46,307   45,987   49,857   142,151  
    Research and development 29,442   28,440   30,828   35,302   124,012     33,913   32,969   32,650   99,532  
    Sales and marketing 41,143   39,349   42,114   54,139   176,745     47,082   43,724   43,585   134,391  
    General and administrative 20,939   20,982   21,610   23,146   86,677     21,870   22,103   24,052   68,025  
                         
    Gross profit, excluding items: 112,367   120,505   130,933   128,705   492,510     129,654   139,496   145,555   414,705  
    % Gross margin 72.9%   75.4%   75.3%   74.9%   74.7%     73.7%   75.2%   74.5%   74.5%  
                         
    (1) This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures, the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A.
                         
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    RECONCILIATION OF GAAP TO NON-GAAP EPS (1)
    (Unaudited)
    (Dollars in thousands, except per share amounts)
      FY2024   FY2025
      6/30/2023 9/30/2023 12/31/2023 3/31/2024 FY2024   6/30/2024 9/30/2024 12/31/2024 FY2025
                         
    Income (loss) from continuing operations before income taxes 7,119 14,639 21,808 (9,205) 34,361   (804) 11,684 18,706 29,586
    Income tax expense (benefit) 8,705 10,163 8,429 (3,027) 24,270   6,685 9,952 9,184 25,821
    Net earnings (loss) from continuing operations (1,586) 4,476 13,379 (6,178) 10,091   (7,489) 1,732 9,522 3,765
                         
    Earnings from discontinued operations, net of tax 387 598 805 1,790   1,688 1,688
                         
    Net earnings (loss) (1,586) 4,863 13,977 (5,373) 11,881   (7,489) 1,732 11,210 5,453
                         
    Earnings (loss) per share:                    
    Basic (0.02) 0.07 0.21 (0.08) 0.18   (0.11) 0.03 0.17 0.08
    Diluted (0.02) 0.07 0.21 (0.08) 0.17   (0.11) 0.03 0.17 0.08
                         
    Excluded items:                    
    Purchased intangible asset amortization (cost of revenue) 3,290 1,217 1,181 3,097 8,785   3,846 3,748 3,686 11,280
    Non-cash stock compensation (cost of revenue and operating expenses) 13,292 15,735 17,497 24,780 71,304   27,985 29,068 26,760 83,813
    Restructuring and merger charges (gains, losses, and other) 116 6,574 2,502 2,516 11,708   206 397 149 752
    Transformation costs (general and administrative) 1,875 1,875  
    Total excluded items from continuing operations 18,573 23,526 21,180 30,393 93,672   32,037 33,213 30,595 95,845
                         
    Income from continuing operations before income taxes and excluding items 25,692 38,165 42,988 21,188 128,033   31,233 44,897 49,301 125,431
    Income tax expense (2) 6,167 9,036 10,732 3,947 29,882   7,371 10,745 12,421 30,537
    Non-GAAP net earnings from continuing operations 19,525 29,129 32,256 17,241 98,151   23,862 34,152 36,880 94,894
                         
    Non-GAAP earnings per share from continuing operations                    
    Basic 0.29 0.44 0.49 0.26 1.48   0.36 0.52 0.56 1.43
    Diluted 0.29 0.43 0.47 0.25 1.45   0.35 0.51 0.55 1.41
                         
    Basic weighted average shares 66,497 66,284 65,961 66,323 66,266   66,621 66,294 65,631 66,182
    Diluted weighted average shares 67,388 67,868 67,943 68,471 67,918   68,463 67,309 66,743 67,505
                         
                         
    Some totals may not add due to rounding                    
                         
    (1) This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures and the material limitations on the usefulness of these measures, please see Appendix A.
                         
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    RECONCILIATION OF GAAP TO NON-GAAP OPERATING INCOME GUIDANCE (1)
    (Unaudited)
    (Dollars in thousands)
      For the   For the
      quarter ending   year ending
      March 31, 2025   March 31, 2025
           
           
           
    GAAP income (loss) from operations $ (8,000)   $ 10,000
           
    Excluded items:      
    Purchased intangible asset amortization   3,000     14,000
    Non-cash stock compensation   26,000     110,000
    Restructuring costs   1,000     1,000
    Total excluded items   30,000     125,000
           
    Non-GAAP income from operations $ 22,000   $ 135,000
           
           
    (1) This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures, the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A.
           
    APPENDIX A
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    Q3 FISCAL 2025 FINANCIAL RESULTS
    EXPLANATION OF NON-GAAP MEASURES AND OTHER KEY METRICS
     
    To supplement our financial results, we use non-GAAP measures which exclude certain acquisition related expenses, non-cash stock compensation and restructuring charges. We believe these measures are helpful in understanding our past performance and our future results. Our non-GAAP financial measures and schedules are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated GAAP financial statements. Our management regularly uses these non-GAAP financial measures internally to understand, manage and evaluate our business and to make operating decisions. These measures are among the primary factors management uses in planning for and forecasting future periods. Compensation of our executives is also based in part on the performance of our business based on these non-GAAP measures.
     
    Our non-GAAP financial measures, including non-GAAP earnings (loss) per share, non-GAAP income (loss) from operations and adjusted EBITDA reflect adjustments based on the following items, as well as the related income tax effects when applicable:
     
    Purchased intangible asset amortization: We incur amortization of purchased intangibles in connection with our acquisitions. Purchased intangibles include (i) developed technology, (ii) customer and publisher relationships, and (iii) trade names. We expect to amortize for accounting purposes the fair value of the purchased intangibles based on the pattern in which the economic benefits of the intangible assets will be consumed as revenue is generated. Although the intangible assets generate revenue for us, we exclude this item because this expense is non-cash in nature and because we believe the non-GAAP financial measures excluding this item provide meaningful supplemental information regarding our operational performance.
     
    Non-cash stock compensation: Non-cash stock compensation consists of charges for associate restricted stock units, performance shares and stock options in accordance with current GAAP related to stock-based compensation including expense associated with stock-based compensation related to unvested options assumed in connection with our acquisitions. As we apply stock-based compensation standards, we believe that it is useful to investors to understand the impact of the application of these standards to our operational performance. Although stock-based compensation expense is calculated in accordance with current GAAP and constitutes an ongoing and recurring expense, such expense is excluded from non-GAAP results because it is not an expense that typically requires or will require cash settlement by us and because such expense is not used by us to assess the core profitability of our business operations.
     
    Restructuring charges: During the past several years, we have initiated certain restructuring activities in order to align our costs in connection with both our operating plans and our business strategies based on then-current economic conditions. As a result, we recognized costs related to termination benefits for employees whose positions were eliminated, lease and other contract termination charges, and asset impairments. These items, as well as third party expenses associated with business acquisitions in the current year, reported as gains, losses, and other items, net, are excluded from non-GAAP results because such amounts are not used by us to assess the core profitability of our business operations.
     
    Transformation costs: In previous years, we incurred significant expenses to separate the financial statements of our operating segments, with particular focus on segment-level balance sheets, and to evaluate portfolio priorities. Our criteria for excluding transformation expenses from our non-GAAP measures is as follows: 1) projects are discrete in nature; 2) excluded expenses consist only of third-party consulting fees that we would not incur otherwise; and 3) we do not exclude employee related expenses or other costs associated with the ongoing operations of our business. We substantially completed those projects during the third quarter of fiscal year 2018. Beginning in the fourth quarter of fiscal 2018, and through most of fiscal 2019, we incurred transaction support expenses and system separation costs related to the Company’s announced evaluation of strategic options for its Marketing Solutions (AMS) business. In the first and second quarters of fiscal 2021 in response to the potential COVID-19 pandemic impact on our business and again during fiscal 2023 in response to macroeconomic conditions, we incurred significant costs associated with the assessment of strategic and operating plans, including our long-term location strategy, and assistance in implementing the restructuring activities as a result of this assessment.  Our criteria for excluding these costs are the same. We believe excluding these items from our non-GAAP financial measures is useful for investors and provides meaningful supplemental information.
     
    Our non-GAAP financial schedules are:
     
    Non-GAAP EPS, Non-GAAP Income from Operations, and Non-GAAP expenses: Our Non-GAAP earnings per share, Non-GAAP income from operations, and Non-GAAP expenses reflect adjustments as described above, as well as the related tax effects where applicable.
     
    Adjusted EBITDA: Adjusted EBITDA is defined as net income from continuing operations before income taxes, other expenses, depreciation and amortization, and including adjustments as described above. We use Adjusted EBITDA to measure our performance from period to period both at the consolidated level as well as within our operating segments and to compare our results to those of our competitors. We believe that the inclusion of Adjusted EBITDA provides useful supplementary information to and facilitates analysis by investors in evaluating the Company’s performance and trends. The presentation of Adjusted EBITDA is not meant to be considered in isolation or as an alternative to net earnings as an indicator of our performance.
     
    Free Cash Flow: To supplement our statement of cash flows, we use a non-GAAP measure of cash flow to analyze cash flows generated from operations. Free cash flow is defined as operating cash flow less capital expenditures. Management believes that this measure of cash flow is meaningful since it represents the amount of money available from continuing operations for the Company’s discretionary spending. The presentation of non-GAAP free cash flow is not meant to be considered in isolation or as an alternative to cash flows from operating activities as a measure of liquidity.
     

    PDF Available: http://ml.globenewswire.com/Resource/Download/cfac844b-6484-4164-92b1-a991aa0edb1a

    The MIL Network

  • MIL-OSI Economics: Field the Future event aims to empower young football players and patients

    Source: Microsoft

    Headline: Field the Future event aims to empower young football players and patients

    Recently, EA Sports joined forces with Xbox, the San Francisco 49ers, and Gamers Outreach — a non-profit organization that empowers hospitalized families through play — for this year’s Field the Future event. Field the Future aims to empower young football players and Madden gamers by providing resources and opportunities to advance their skills, passion, and knowledge of the sport, so they know that they have a future in football, and that there are several pathways to get you there.

    On January 27, fifteen custom video game kiosks – Gamers Outreach Karts (“GO Karts”) – donated through the Field the Future initiative, began their deployment at the UCSF Health System, including San Francisco Benioff Children’s Hospital. GO Karts are portable video game kiosks built for hospitals. Each of these units is equipped with an Xbox, controllers, and an assortment of video games. The devices are used within hospitals to provide entertainment and therapeutic activities to children as they receive medical care, and will bring the healing power of play through an estimated forty three thousand gaming experiences each year throughout the UCSF Health System.

    Then, on January 28, EA Sports hosted 150 flag football players and 50 Children’s Hospital patients at their Redwood Shores office. Young football players and Madden gamers were given the opportunity to advance their skills, passion, and knowledge of the sport. Attendees got office tours, two educational sessions on the future of gaming and technology with our own dev team, a panel with Kristin Juszczyk and our SVP Andrea Hopelain and a chance to hit the Madden field for flag football, drills and scrimmages led by San Francisco 49ers own Kyle Juszczyk and 49ers legend Larry Grant.

    All the participants walked away with a custom Madden Xbox controller and a month of Game Pass Ultimate to play EA Sports Madden NFL 25 starting February 6 (more on that in a minute), and four lucky winners received a brand-new Surface Pro!

    Play Madden NFL 25 with EA Play Starting on February 6

    With the Super Bowl this weekend, you can tee up the action early and dominate the field like a bonafide superstar in EA Sports Madden NFL 25, coming to the Play List this Thursday, February 6, for all EA Play and Xbox Game Pass Ultimate members.

    In Madden NFL 25, players can experience FieldSense and Boom Tech (available on Xbox Series X|S and PC versions), physics-based tackling systems featuring the reengineered Hit Stick and enhanced ball carrier control. Madden NFL 25 also includes updated visuals and presentation with two additional commentary teams, aiming to provide realistic NFL gameplay through various modes. Madden NFL 25 also introduces new control levels, signature styles, and mechanics for ball carriers, catching, and pre-play, focusing on football fundamentals such as blocking and playbooks.

    Xbox Game Pass Ultimate and Xbox Game Pass PC members receive EA Play with their Game Pass subscription. Members can experience the world of EA with unlimited access to a collection of top titles, trials of select new games, in-game member rewards, 10% on EA digital purchases and more. Members can unlock the thrill of their next favorite game with up to 10-hour trials of EA’s latest titles such as EA Sports FC 25, EA Sports NHL 25, EA Sports College Football 25, F1 24, and Dragon Age: The Veilguard in addition toaccess to an unrivaled collection of EA’s best-loved series and top titles, including Madden NFL 25, Madden NFL 24, EA Sports FC 24, EA Sports WRC, and Star Wars: Jedi Survivor.

    Visit the EA Play page for more details, and to stay up to date on the latest from EA Play, follow EA Play on, Instagram, or X. Please see EA.com/EA-Play/Terms for terms and conditions. Read here for more details..

    MIL OSI Economics

  • MIL-OSI Economics: How real-world businesses are transforming with AI – with 50 new stories

    Source: Microsoft

    Headline: How real-world businesses are transforming with AI – with 50 new stories

    Updated February 5, 2025: The post contains 50 new customer stories, which appear at the beginning of each section of customer lists. The post will be updated regularly with new stories.

    One of the highlights of my career has always been connecting with customers and partners across industries to learn how they are using technology to drive their businesses forward. In the past 30 years, we’ve seen four major platform shifts, from client server to internet and the web to mobile and cloud to now — the next major platform shift to AI.  

    As today’s platform shift to AI continues to gain momentum, Microsoft is working to understand just how organizations can drive lasting business value. We recently commissioned a study with IDC, The Business Opportunity of AI, to uncover new insights around business value and help guide organizations on their journey of AI transformation. The study found that for every $1 organizations invest in generative AI, they’re realizing an average of $3.70 in return — and uncovered insights about the future potential of AI to reshape business processes and drive change across industries.

    Check out the top 5 AI trends to watch from IDC and Microsoft

    Today, more than 85% of the Fortune 500 are using Microsoft AI solutions to shape their future. In working with organizations large and small, across every industry and geography, we’ve seen that most transformation initiatives are designed to achieve one of four business outcomes:  

    1. Enriching employee experiences: Using AI to streamline or automate repetitive, mundane tasks can allow your employees to dive into more complex, creative and ultimately more valuable work.
    2. Reinventing customer engagement: AI can create more personalized, tailored customer experiences, delighting your target audiences while lightening the load for employees.
    3. Reshaping business processes: Virtually any business process can be reimagined with AI, from marketing to supply chain operations to finance, and AI is even allowing organizations to go beyond process optimization and discover exciting new growth opportunities.
    4. Bending the curve on innovation: AI is revolutionizing innovation by speeding up creative processes and product development, reducing the time to market and allowing companies to differentiate in an often crowded field.

    In this blog, we’ve collected more than 300 of our favorite real-life examples of how organizations are embracing Microsoft’s proven AI capabilities to drive impact and shape today’s platform shift to AI. Today, we’ve added new stories of customers using our AI capabilities at the beginning of each section. We’ll regularly update this story with more. We hope you find an example or two that can inspire your own transformation journey.

    Enriching employee experiences

    Generative AI is truly transforming employee productivity and wellbeing. Our customers tell us that by automating repetitive, mundane tasks, employees are freed up to dive into more complex and creative work. This shift not only makes the work environment more stimulating but also boosts job satisfaction. It sparks innovation, provides actionable insights for better decision-making and supports personalized training and development opportunities, all contributing to a better work-life balance. Customers around the world have reported significant improvements in employee productivity with these AI solutions:

    New Stories:

    1. Acentra Health created MedScribe using Azure OpenAI Service. The solution has saved 11,000 nursing hours and nearly $800,000. It also helped each nurse process 20 to 30 letters daily, while achieving a 99% approval rate for MedScribe-generated letters.
    2. Brisbane Catholic Education provides Microsoft 365 Copilot to 12,500 educators, and uses Microsoft Copilot Studio to create a generative AI tool to help educators integrate Catholic traditions and values into the classroom.
    3. Crediclub saves 96% per month in auditing expenses and analyzes 150 meetings per hour with Azure AI, freeing up time for 800 sales advisors and 150 branch managers to interact directly with customers.
    4. eClinicalWorks developed a tool using Azure AI services and Azure AI Document Intelligence to help healthcare workers scan, sort and match thousands of faxes each year to match the faxed data with current patient files.
    5. Education Authority of Northern Ireland (EANI) introduced Microsoft 365 Copilot to reduce admin work, allowing teachers to focus on students. The Microsoft partnership ensures secure and ethical AI use, while teacher training focuses on prompt writing and effective tool adoption.
    6. Ma’aden uses Microsoft 365 Copilot to enhance productivity, saving up to 2,200 hours monthly. Tasks like drafting emails, creating documents and data analysis have become more efficient, helping Ma’aden achieve its growth goals.
    7. Marketing org mci group uses Microsoft 365 Copilot to enhance the use of AI and other technological advances to boost employee efficiency.
    8. Michelin deployed Microsoft 365 Copilot and a generative AI in-house chatbot based on Azure OpenAI Service called “Aurora” designed to help employees optimize work and team performance, boosting productivity tenfold.
    9. Raiffeisen Bank International built its own ChatGPT using Azure OpenAI Service to automate repetitive tasks like documenting intelligence and more rapidly summarize legal, regulation and banking documents.
    10. Sanabil Investments deployed Microsoft 365 Copilot to help employees reduce the time spent on manual everyday tasks that diverted focus from more strategic and valuable work. Within two months, approximately 70% of employees regularly used Copilot.
    11. Sensei rolled out Microsoft 365 to reduce the number of internal apps and better connect systems for easier collaboration, and is using Microsoft 365 Copilot to increase efficiency.
    12. Sikshana Foundation is working with Microsoft Research India to introduce an AI copilot for teachers that shortens preparation time for lessons from an hour or more to just minutes.
    13. The University of Hong Kong adopted Microsoft 365 Copilot to enhance productivity by automating administrative tasks and providing intelligent assistance, allowing faculty to focus more on teaching.

    1. Accenture and Avanade launched a Copilot business transformation practice, supported by Microsoft, and co-invested in new capabilities, solutions and training to help organizations securely and responsibly reinvent their business functions with generative and agentic AI and Copilot technologies.
    2. Access Holdings Plc adopted Microsoft 365 Copilot, integrating generative AI into daily tools and, as a result, writing code now takes two hours instead of eight, chatbots launch in 10 days instead of three months and presentations are prepared in 45 minutes instead of six hours.
    3. Adobe is connecting Adobe Experience Cloud workflows and insights with Microsoft 365 Copilot to deliver generative-AI powered capabilities that enable marketers to increase collaboration, efficiency and creativity.
    4. Amadeus empowers its teams to focus their time and skills on value-added tasks with Microsoft 365 Copilot, by summarizing email threads, chat or transcripts and summing up information from diverse sources.
    5. ANZ has invested in Microsoft 365 Copilot, GitHub Copilot and Copilot in Microsoft Edge to boost productivity and innovation across its workforce.
    6. Asahi Europe & International (AEI) has adopted Microsoft 365 Copilot, saving employees potentially 15% of time previously spent on administrative tasks.
    7. AXA developed AXA Secure GPT, a platform powered by Azure OpenAI Service that empowers employees to leverage the power of generative AI while targeting the highest level of data safety and responsible use of the tool.
    8. Axon Enterprise developed a new AI tool with Azure OpenAI Service called Draft One, resulting in an 82% decrease in time spent on reports, which freed up officers to engage more with their community.
    9. Aztec Group enhanced productivity and client experience by trialing Microsoft 365 Copilot with 300 staff, uncovering “unlimited” use cases and plans for a wider rollout.
    10. Bader Sultan & Bros. Co. W.L.L. implemented Microsoft 365 Copilot to enhance employee productivity and speed up customer response times.
    11. Bancolombia is using GitHub Copilot to empower its technical team, achieving a 30% increase in code generation, boosting automated application changes to an average of 18,000 per year, with a rate of 42 productive daily deployments.
    12. Bank of Queensland Group is using Microsoft 365 Copilot, with 70% of users saving two-and-a-half to five hours per week.
    13. BaptistCare Community Services is using Microsoft 365 Copilot to save employees time as they navigate workforce shortage challenges allowing them to focus more on the people they care for.
    14. Barnsley Council was recognized as “Double Council of the Year in 2023” for its implementation of Microsoft 365 Copilot, which modernized operations and reduced administrative tasks, leading to improved job satisfaction and increased creativity.
    15. BlackRock purchased more than 24,000 Microsoft 365 Copilot licenses spanning all employees, functions and locations, helping improve the Copilot experience, including codeveloping new features and functions.
    16. British Heart Foundation is testing Microsoft 365 Copilot and in its initial test, users estimate that Microsoft 365 Copilot could save them up to 30 minutes per day.
    17. Buckinghamshire Council deployed Microsoft 365 Copilot with staff reporting productivity improvements, quality enhancements and time savings which are enabling the different teams to do more with less.
    18. Campari Group adopted Microsoft 365 Copilot to help employees integrate it into their workflow, resulting in time savings of about two hours a week from the support of routine activities such as email management, meeting preparation, content creation and skill acquisition.
    19. Canadian Tire Corporation moved its data from on-premises systems to Microsoft Azure and built digital assistants using Azure OpenAI Service, and now more than 3,000 corporate employees save 30 to 60 minutes a day using its ChatCTC digital assistant.
    20. Capita is using GitHub Copilot for productivity improvements as well as improvements in developer satisfaction, recruitment and retention.
    21. Cathay leverages Microsoft 365 Copilot to streamline meetings and manage information more effectively, reducing time-consuming tasks and fostering creativity.
    22. CDW used Microsoft 365 Copilot to improve work quality for 88% of users, enabling 77% to complete tasks faster, and increasing productivity for 85% of users.
    23. Chi Mei Medical Center is lightening workloads for doctors, nurses and pharmacists with a generative AI assistant built on Azure OpenAI Service.
    24. Clifford Chance adopted Microsoft 365 Copilot to streamline tasks, automate processes and enhance collaboration. Lawyers use it to draft and manage emails and ensure compliance, allowing them to focus on complex legal work and improve productivity.
    25. DLA Piper chose Microsoft 365 Copilot to boost productivity for operational and administrative teams, saving up to 36 hours weekly on content generation and data analysis.
    26. Eaton adopted Microsoft 365 Copilot to automate the creation of 1,000 standard operating procedures to streamline customer service operations and improve data access across teams, cutting creation time from one hour to 10 minutes.
    27. E.ON is focused on Germany’s energy transition, leveraging Microsoft 365 Copilot to manage the complex grid in real-time, increasing productivity and efficiency for its workforce.
    28. Enerijisa Uretim has adopted Microsoft 365 Copilot to streamline meeting summaries, reformat documents and compile reports, enabling employees to concentrate on more strategic and fulfilling activities instead of spending six hours in meetings.
    29. EPAM is deploying Microsoft 365 Copilot to consolidate information and generate content and documents.
    30. Farm Credit Canada implemented Microsoft 365 Copilot which resulted in time savings on routine tasks for 78% of users, with 30% saving 30 to 60 minutes per week and 35% saving over an hour per week, allowing employees to focus on more value-added tasks.
    31. Finastra used Microsoft 365 Copilot to automate tasks, enhance content creation, improve analytics and personalize customer interactions, with employees citing a 20%-50% time savings.
    32. Four Agency Worldwide increased employee productivity using Microsoft 365 Copilot to generate ideas for creative work and support administrative-heavy processes, data analysis and report generation, allowing staff to focus on outreach and less time doing paperwork.
    33. Goodwill of Orange County developed an AI-powered app using Azure AI capabilities to help more people, including those with developmental, intellectual and physical disabilities, work in unfilled e-commerce positions.
    34. Harvey uses Azure OpenAI to simplify routine tasks across hundreds of law firms and legal teams, with one corporate lawyer saying he saved 10 hours of work per week.
    35. Honeywell employees are saving 92 minutes per week — that’s 74 hours a year! Disclaimer: Statistics are from an internal Honeywell survey of 5,000 employees where 611 employees responded.
    36. Insight employees using Copilot are seeing four hours of productivity gained per week from data summarization and content creation.
    37. Joos uses Microsoft 365 Copilot to grow its brand with worldwide collaboration by streamlining meetings, optimizing presentations and improving communications.
    38. Kantar is harnessing the power of Microsoft 365 Copilot by reducing costly, time-consuming IT processes and boosting productivity for employees.
    39. KMS Lighthouse enhanced its knowledge management platform with Microsoft Teams and Dynamics 365 integration, enabling users to leverage KMS Lighthouse without having to switch applications. And with Azure OpenAI Service, companies can create relevant content more quickly within the KMS Lighthouse application.
    40. KPMG Australia is using Microsoft Azure OpenAI Service, Azure AI Search and Microsoft Copilot 365 to perform advanced text analysis of dozens of client source documents to identify full or partial compliance, or noncompliance, in a fraction of the time required for manual assessments.
    41. LGT is launching Microsoft Copilot LGT to improve efficiency, showing users save an average of an hour a week even in the pilot phase.
    42. Localiza&Co, a leader in the mobility industry in Latin America, implemented Microsoft 365 Copilot to automate processes and improve efficiency, and reduced 8.3 working hours per employee per month.
    43. Lotte Hotels & Resorts has been creating a new work culture that allows employees to work more efficiently and focus on the nature of the work by adopting Microsoft Power Platform for automation.
    44. MAIRE is leveraging Microsoft 365 Copilot to automate routine tasks, saving over 800 working hours per month, freeing up engineers and professionals for strategic activities while supporting MAIRE’s green energy transition by reducing their carbon footprint.
    45. McDonald’s China chose Microsoft Azure AI, GitHub Copilot and Azure AI Search to transform its operations, resulting in a significant increase in AI adoption, consumption and retention from 2,000 to 30,000 employee transactions monthly.
    46. McKnight Foundation adopted Microsoft 365 Copilot for all staff, saving time, increasing productivity and freeing space to focus on strategic priorities.
    47. Medigold Health uses Azure OpenAI Service to significantly reduce the time that clinicians spend writing reports during their consultation and administrative time.
    48. Morula Health is using Microsoft 365 Copilot to enhance productivity, streamline medical writing tasks and ensure data security, ultimately improving efficiency and client satisfaction.
    49. Motor Oil Group is achieving remarkable efficiency gains by integrating Microsoft 365 Copilot into its workflows, with staff spending minutes on tasks that used to take weeks.
    50. Nagel-Group uses Azure OpenAI Service to help employees quickly access information which saves time, creates efficiency and transparency and leads to higher-quality answers overall.
    51. National Australia Bank is leveraging Microsoft 365 Copilot for daily productivity and data analysis and insights and Microsoft Copilot for Security to quickly analyze millions of security event logs and allow engineers to focus on more important areas.
    52. NFL Players Association integrated Azure AI Services and Azure App Service into their video review process, reducing review time by up to 73%, significantly increasing efficiency and enhancing player safety through consistent rule enforcement.
    53. O2 Czech Republic boosts productivity and streamlines meetings with Microsoft 365 Copilot, revolutionizing how information is shared and making automation a part of daily work.
    54. Onepoint developed a secure conversational agent based on Azure OpenAI which delivers productivity gains of between 10% and 15% across all business lines.
    55. Orange Group has over 40 use cases with Azure OpenAI Service and GitHub Copilot across business functions to support employees in their day-to-day tasks, enabling them to concentrate on higher value-added activities.
    56. Oxford University Hospitals NHS Foundation Trust implemented Microsoft 365 Copilot to improve staff report productivity by saving one to two hours a week, or simple formatting tasks down to a matter of seconds, enabling more resources to deliver frontline services.
    57. PA Consulting transformed its sales operations with Microsoft 365 Copilot, so its people can invest more time on the activities that have the biggest impact for clients and maximize the strategic value they provide.
    58. Petrobras used Azure OpenAI Service to create ChatPetrobras, which is streamlining workflows, reducing manual tasks and summarizing reports for its 110,000 employees.
    59. Petrochemical Industries Company automates work processes to save time with Microsoft 365 Copilot from weeks to days, hours to seconds.
    60. PIMCO built ChatGWM with Azure AI Studio, a comprehensive platform that provides the ability to ask questions, receive responses and verify answers all in one place, so teams can spend more time engaging clients and having deeper conversations.
    61. PKSHA Technology is optimizing their time on critical work by increasing efficiency in meeting preparations, data analytics and ideation with the help of Microsoft 365 Copilot.
    62. Providence has collaborated with Nuance and Microsoft to accelerate development and adoption of generative AI-powered applications, helping improve care quality and access, and reduce physician’s administrative workloads.
    63. RTI International adopted Microsoft 365 Copilot to gain productivity wherever possible, allowing staff to focus on their areas of expertise, delivering even better science-backed solutions for clients.
    64. SACE, an Italian finance and insurance firm, is using Microsoft 365 Copilot and Viva to boost productivity and unlock employee potential while enhancing overall well-being — and productivity improvement data from the first nine months of implementation shows a 23% increase.
    65. Sandvik Coromant is using Microsoft Copilot for Sales to drive efficiency and accuracy, shaving at least one minute off each transaction, allowing sellers and account managers to focus their expertise on responding to customers’ needs with analysis, creativity and adaptability.
    66. Sasfin Bank built a solution on Microsoft Azure that centralized 20,000 documents to analyze contract clauses and provide real-time snapshots, moving guesswork into data-driven decision-making.
    67. Scottish Water implemented Microsoft 365 Copilot reducing mundane tasks to a minimum, and thus freeing up time for employees to work on the more meaningful tasks.
    68. Shriners Children’s developed an AI platform allowing clinicians to easily and securely navigate patient data in a singular location, enhancing patient care, and improving the efficiency of their healthcare services.
    69. Siemens is leveraging Azure OpenAI Service to improve efficiency, cut downtime and address labor shortages.
    70. Softchoice employees are experiencing firsthand how Microsoft 365 Copilot can transform daily workflows, realizing productivity gains of 97% reduction in time spent summarizing technical meetings and up to 70% less time spent on content creation.
    71. Syensqo utilized Microsoft’s Azure OpenAI Service to develop a custom AI chatbot in three months, which improved their internal data management, decision-making and overall efficiency.
    72. Teladoc Health uses Microsoft 365 Copilot to revolutionize its telehealth operations, automating routine tasks, boosting efficiency and increasing productivity.
    73. Telstra developed two cutting-edge generative AI tools based on Microsoft Azure OpenAI Service: 90% of employees are using the One Sentence Summary tool which resulted in 20% less follow-up customer contact and 84% of customer service agents using the Ask Telstra solution.
    74. Topsoe achieved 85% AI adoption among office employees in seven months, significantly enhancing productivity and business processes.
    75. Torfaen County Borough Council utilized Microsoft 365 Copilot to streamline back-office processes, resulting in significant time savings and enhanced productivity for both business and children’s services teams, with further rollouts planned.
    76. Trace3 leveraged Microsoft 365 Copilot to streamline and enhance processes across the business and with clients, such as reducing the time it takes HR recruiting managers to respond to applicants within a couple of days instead of several weeks.
    77. Unilever is reinventing their marketing process with Copilot, saving time on briefing tasks, automatically pulling in relevant market data, content and insights to accelerate campaign launches.
    78. Uniper SE implemented Microsoft 365 Copilot to reduce time spent on manual and repetitive tasks, and help workers focus on more pressing work, such as developing enhanced solutions to speed up the energy transition.
    79. Unum Group built a custom AI application to search 1.3 terabytes of data with 95% accuracy using Azure OpenAI Service.
    80. Virgin Atlantic adopted Microsoft 365 Copilot and GitHub Copilot and is seeing real business benefits, including productivity improvements, enabling new ways of working.
    81. Visier built a generative AI assistant that leverages Azure AI and Azure OpenAI Services to deliver workforce analytics and actionable insights for more than 50,000 customers.
    82. Virtual Dental Care developed an AI application Smart Scan that leverages Microsoft Azure to reduce paperwork for mobile dental clinics in schools by 75% and frees dentists to devote more time to patient care.
    83. Zakladni Skola As Hlavkova adopted Microsoft 365 Copilot and saw a 60% improvement in handling administrative documents, decreased lesson preparation from hours to few minutes, increased inclusivity and enhanced communication with students and parents.

    Reinventing customer engagement

    We’ve seen great examples of how generative AI can automate content creation, ensuring there’s fresh and engaging materials ready to go. It personalizes customer experiences by crunching the numbers, boosting conversion rates. It makes operations smoother, helping teams launch campaigns faster. Plus, it drives innovation, crafting experiences that delight customers while lightening the load for staff. Embracing generative AI is key for organizations wanting to reinvent customer engagements, stay ahead of the game and drive both innovation and efficiency.

    New Stories:

    1. Aditya Birla Capital built the SimpliFi chatbot on Microsoft Azure to simplify financial services information and offers through intelligent search and proactive nudging with minimum latency and high scalability.
    2. AIA is using Copilot in Dynamics 365 Customer Service to allow customer service representatives to handle more cases in less time by automating time-consuming tasks like drafting customer emails and summarizing lengthy chats and case histories.
    3. Aydem Energy and Microsoft partner Softtech used Azure OpenAI Service to create an AI assistant for WhatsApp, providing customers with real-time updates and handling meter readings, bill checks and claims.
    4. The City of Buenos Aires developed Boti with ChatGPT using Azure OpenAI Service to manage multiple service channels and personalize key services for residents and tourists. The chatbot centralizes data, enables natural language interactions and scales to handle high demands, managing 2 million queries per month without human intervention, alleviating the operational burden by 50%, improving the citizen experience and increasing efficiency.
    5. de Alliantie built a generative AI chatbot using Azure OpenAI to digest information in their online knowledge base so staff can get accurate answers in seconds. Another Azure AI-based solution transcribes and summarizes calls, then categorizes them by theme.
    6. Haceb created a virtual technical support assistant with generative AI, helping on-the-ground technicians troubleshoot, diagnose and resolve product issues faster and more efficiently.
    7. Lloyds Banking Group developed the Branch Translation App using Microsoft Power Apps and Azure AI services with a goal to improve communication with non-English speaking customers and the innovation enhanced service delivery, receiving positive feedback from employees and customers alike.
    8. Staffbase provides its clients with Staffbase Companion, which helps it enhance internal communication with quick content generation, summarization, translation and future capabilities — and remain confident in data protection.
    9. Tekion built Automative Retail Cloud, a unified, cloud-native platform that uses generative AI to analyze communications, extract insights and provide customer-specific recommendations for sales agents.
    10. Welcome Account created a banking application with a conversational agent based on Azure OpenAI Service, in order to help people manage their finances and administrative procedures. This multilingual agent already assists no less than a thousand refugees on a daily basis.
    11. UBS is using Azure AI solutions, including Azure AI Search and Azure OpenAI Service, to power “Smart Assistants” that streamline content access and provide real-time information to Client Advisors, boosting efficiency and client engagement.
    12. Virbe enables businesses to interact with customers through AI-powered avatars, and with Azure AI services like Azure OpenAI Service and Azure AI Search, Virbe enhanced its AI avatars and simplified engagement with enterprise customers — and customers are seeing up to a 10x increase in leads.

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    1. Absa has adopted Microsoft Copilot to streamline various business processes, saving several hours on administrative tasks each day.
    2. Adobe leverages Microsoft Azure to streamline the customer experience, harnessing the power of the connected cloud services and creating a synergy that drives AI transformation across industries.
    3. Acentra Health developed Medscribe, a web application that uses Azure OpenAI Service to generate draft letters in a secure, HIPPA-compliant enclave that responds to customer appeals for healthcare services within 24 hours, reducing the time spent on each appeal letter by 50%.
    4. Air India leveraged Azure OpenAI Service to develop a virtual assistant that has handled nearly 4 million customer queries with full automation, significantly enhancing customer experience and avoiding millions of dollars in customer support costs.
    5. Alaska Airlines is using Microsoft Azure, Microsoft Defender, and GitHub to ensure its passengers have a seamless journey from ticket purchase to baggage pickup and started leveraging Azure OpenAI Service to unlock more business value for its customer care and contact centers.
    6. Ally Financial is using Azure OpenAI Service to reduce manual tasks for its customer service associates, freeing up time for them to engage with customers.
    7. BMW Group optimizes the customer experience connecting 13 million active users to their vehicles with the MyBMW app on Azure, which supports 450 million daily requests and 3.2TB data processing.
    8. Boyner has tripled its e-commerce performance using Microsoft Azure, seeing a rise in customer satisfaction, engagement, conversion rate and revenue.
    9. Bradesco Bank integrated Microsoft Azure to its virtual assistant, BIA, resulting in reduced response time from days to hours, improving operational efficiency and client satisfaction.
    10. Capgemini Mexico integrated GitHub Copilot to support scalable AI implementations which has led to improved customer experiences and increased efficiency.
    11. Capitec Bank uses Azure OpenAI Service and Microsoft 365 Copilot, enabling their AI-powered chatbot to assist customer service consultants in accessing product information more efficiently, saving significant time for employees each week.
    12. Cdiscount is leveraging GitHub Copilot and Azure OpenAI Service to enhance developer efficiency, optimize product sheet categorization and improve customer satisfaction.
    13. Cemex used Azure OpenAI Service to launch Technical Xpert, an AI tool used by sales agents to provide instant access to comprehensive product and customer solution information, significantly reducing search time by 80%.
    14. Chanel elevated their client experience and improved employee efficiency by leveraging Microsoft Fabric and Azure OpenAI Service for real-time translations and quality monitoring.
    15. City of Burlington created two AI-powered solutions: MyFiles system using Microsoft Power Platform for building permits, and CoBy, a 24/7 customer support assistant using Microsoft Copilot Studio.
    16. City of Madrid created an AI virtual assistant with Microsoft Azure OpenAI Service offering tourists accurate, real-time information and personalized responses in 95-plus languages.
    17. Cognizant is making performance management more effective and meaningful with Microsoft Azure Machine Learning to help clients across industries envision, build, and run innovative digital enterprises.
    18. Coles Group has leveraged Microsoft Azure to enhance its digital presence and improve customer engagement, rolling out new applications to its stores six times faster without disrupting workloads.
    19. Commercial Bank of Dubai used Microsoft Azure to upgrade its application infrastructure, improving transaction security and speed so individual customers can now open an account and start banking in about two minutes.
    20. Cradle Fund, dedicated to nurturing startups in Malaysia, introduced an AI-driven chatbot to boost user interaction and increase public engagement. User engagement quadrupled while resolution time was reduced from two days to a few clicks. Cradle also decreased customer service costs by 35%, increased international interactions by 40% and increased daily average visits 10-fold.
    21. Doctolib, a leading eHealth company in France, leverages Microsoft technology to develop an AI-powered medical assistant, integrating both Azure OpenAI Service and Mistral Large on Azure.
    22. Docusign used Azure AI to develop its Intelligent Agreement Management (IAM) platform, which supports millions of workflows, reducing contract processing times and enhancing customer satisfaction with advanced AI-powered analytics.
    23. Dubai Electricity and Water Authority has significantly improved productivity and customer satisfaction by integrating multiple Microsoft AI solutions, reducing task completion time from days to hours and achieving a 98% customer happiness rate.
    24. Elcome uses Microsoft 365 Copilot to improve the customer experience, reducing response times from 24 hours to eight hours.
    25. elunic developed shopfloor.GPT based on Azure OpenAI leading to increased productivity for customers saving 15 minutes per request.
    26. Estée Lauder Companies is leveraging Azure OpenAI Service to create closer consumer connections and increase speed to market with local relevancy.
    27. First National Bank (FNB) is using Microsoft Copilot for Sales to help bankers create professional, thoughtful emails in 13 native South African languages, to enhance customer interactions, streamline communications and reinforce its commitment to innovation and customer service.
    28. Flora Food Group migrated to Microsoft Fabric to offer more detailed and timely insights to its customers, enhancing service delivery and customer satisfaction.
    29. Groupama deployed a virtual assistant using Azure OpenAI Service that delivers reliable, verified and verifiable information, and boasts an 80% success rate.
    30. Holland America Line developed a virtual agent using Microsoft Copilot Studio that acts as a digital concierge on their website to support new and existing customers and travel advisors, which has achieved a strong resolution rate and is currently handling thousands of conversations per week.
    31. International University of Applied Sciences (IU) adopted Azure OpenAI Service to revolutionize learning with a personalized study assistant that can interact with each student just like a human would.
    32. Investec is using Microsoft 365 Copilot for Sales to enhance the bank’s client relationships, estimating saving approximately 200 hours annually ultimately boosting sales productivity and delivering personalized, seamless customer experience.
    33. Jato Dynamics used Azure OpenAI Service to automate content generation, helping dealerships save approximately 32 hours each month.
    34. Kenya Red Cross worked with Pathways Technologies to develop a mental health chatbot in Azure AI.
    35. LALIGA is delivering a seamless fan experience and AI insights with Azure Arc, using AI in Azure for optimizing match scheduling and other key operations.
    36. Legrand used Azure OpenAI Service to reduce the time to generate product data by 60% and improve customer support interactions with fast, accurate information.
    37. Linum is using Microsoft Azure to train their text-to-video models faster and more efficiently without losing performance or wasting resources.
    38. Lumen Technologies is redefining customer success and sales processes through the strategic use of Microsoft 365 Copilot, enhancing productivity, sales and customer service in the global communications sector.
    39. Mars Science & Diagnostics used the Azure AI catalog to build generative AI apps to enhance accuracy and extract data insights quickly, helping pets with critical, undiagnosed conditions receive the care they require faster.
    40. McKinsey & Company is creating an agent to reduce client onboarding process by reducing lead time by 90% and administrative work by 30%.
    41. Meesho leveraged Microsoft’s Azure OpenAI Service and GitHub Copilot to enhance customer service and software development, resulting in a 25% increase in customer satisfaction scores and 40% more traffic on customer service queries.
    42. Milpark Education integrated Microsoft Copilot and Copilot Studio and in just four months, improved efficiency and accuracy of student support, decreasing the average resolution time by 50% and escalation time by more than 30%.
    43. National Basketball Association is using Azure OpenAI Service to speed up the time to market, helping fans connect with the league with personalized, localized insights to enhance the fan experience.
    44. NC Fusion chose a comprehensive Microsoft solution to make marketing engagement activities easier and accurately target the best audience segments.
    45. Medgate, a telehealth subsidiary of Otto Group developed a medical Copilot powered by Azure OpenAI which summarizes consultations, supports triage and provides real-time translations.
    46. Orbital Witness embraced the use of large language models (LLMs) in Azure OpenAI to build its innovative AI Agent application, Orbital Copilot, which can save legal teams 70 percent of the time it takes to conduct property diligence work.
    47. Pacific Gas & Electric built a chatbot using Microsoft Copilot Studio that saves $1.1 million annually on helpdesk support.
    48. Parloa took a “voice-first” approach and created an enterprise-grade AI Agent Management platform to automate customer interactions across phone, chat and messaging apps.
    49. Pockyt is using GitHub Copilot and anticipates a 500% increase in productivity in the medium to long term as they continue adapting AI and fine-tuning their software development life cycle.
    50. South Australia Department for Education launched an AI-powered educational chatbot to help safeguard students from harmful content while introducing responsible AI to the classrooms.
    51. Sync Labs is using Microsoft Azure to create AI-driven solutions that have led to a remarkable 30x increase in revenue and a 100x expansion of their customer base.
    52. Syndigo is using Azure to accelerate digital commerce for its customers by more than 40% and expand its customer base.
    53. Telkomsel created a virtual assistant with Azure OpenAI Service, resulting in a leap in customer self-service interactions from 19% to 45%, and call volume dropped from 8,000 calls to 1,000 calls a day.
    54. Torrens University chose to use Azure OpenAI to uplift its online learning experience, saving 20,000 hours and $2.4 million in time and resources.
    55. Trusting Social integrated Microsoft Azure services to launch AI-driven agents that are changing how banks function and transforming their customer’s banking experience.
    56. University of California, Berkeley used Azure OpenAI Service to deploy a custom AI chatbot that supports student learning and helps students with complex coursework.
    57. University of Sydney created a self-serve AI platform powered by Azure OpenAI Service, to enable faculty to build custom chatbots for enhancing student onboarding, feedback, career simulation and more.
    58. Van Lanschot Kempen is using Microsoft 365 Copilot to reduce the time needed for daily tasks, freeing up time to invest in that crucial personal connection.
    59. Virgin Money built an award-winning virtual assistant using Copilot Studio to help build customers’ confidence in their digital products and services.
    60. VOCALLS automates over 50 million interactions per year, resulting in a 78% reduction in average handling time aside from a 120% increase in answered calls.
    61. Vodafone Group is leveraging Microsoft’s AI solutions, including Azure AI Studio, OpenAI Service, Copilot and AI Search, to achieve a 70% resolution rate for customer inquiries through digital channels and reduce call times by at least one minute.
    62. Walmart is using Azure OpenAI Service to deliver a helpful and intuitive browsing experience for customers designed to serve up a curated list of the personalized items a shopper is looking for.
    63. Weights & Biases created a platform which runs on Microsoft Azure that allows developers to keep records, log successes and failures and automate manual tasks.
    64. World2Meet is providing better customer service and operations with a new virtual assistant powered by Microsoft Azure.
    65. Xavier College is modernizing its student information systems on Microsoft Dynamics 365 and Microsoft Azure to unlock powerful insights, fostering innovation and data-driven decision making.
    66. Zavarovalnica Triglav implemented Microsoft Dynamics 365 and Azure OpenAI Service to streamline its operations with automated responses and smart rerouting of customer enquiries.
    67. Zurich Insurance Group used Azure OpenAI Service to develop advanced AI applications that led to more accurate and efficient risk assessment evaluations, accelerating the underwriting process, reducing turnaround times and increasing customer satisfaction.

    Reshaping business process

    Transforming operations is another way generative AI is encouraging innovation and improving efficiency across various business functions. In marketing, it can create personalized content to truly engage different audiences. For supply chain management, it can predict market trends so companies can optimize their inventory levels. Human resources departments can speed up the hiring process, while financial services can use it for fraud detection and risk assessments. With generative AI, companies are not just refining their current processes, they’re also discovering exciting new growth opportunities.

    New Stories:

    1. Bank of Queensland is modernizing its operations with Azure, Microsoft 365 and Microsoft 365 Copilot, using AI to optimize business processes such as creating marketing content, building reports and plans and drafting HR content.
    2. Document360 created an AI-powered knowledge base and service platform for companies to create, manage and publish online documentation, including product manuals, SOPs and wikis.
    3. Eduvos is simplifying the student enrollment experience with Microsoft Azure and Dynamics 365, reducing the time from 90 days to nearly instantaneous and associated costs by 90%.
    4. Emirates Global Aluminum (EGA) uses Azure Local to support its digital manufacturing platform, including support for safety-critical applications that use AI. Through its hybrid Azure environment, EGA has achieved 10 to 13 times faster AI response time and 86% cost savings for AI image and video use cases.
    5. Hellenic Cadastre built a system that reads and categorizes property contracts, applies legal rules and provides assessments for approval using Azure OpenAI Service. Today, property transaction assessments take less than 10 minutes instead of hours, reducing costs from 15 euros to 0.11 euros per assessment. The system also enhanced property owners’ legal security and boosted the Greek economy by enabling transactions to be completed sooner.
    6. Startup legal-i is using AI to analyze unstructured data and help expensive insurance specialists make better decisions faster — speeding up healthcare and insurance processes and improving the accuracy of outcomes.
    7. Publishing company SHUEISHA Inc. is using Microsoft Security Copilot to enable faster incident response, boosting the confidence and effectiveness of cybersecurity personnel.
    8. thyssencrupp is using the Siemens Industrial Copilot, built on Azure OpenAI Service, to address a skilled labor gap while revolutionizing how it programs and operates machinery.
    9. U.S. AutoForce implemented Dynamics 365 Supply Chain Management to centralize warehouse data, connect processes and improve operational efficiency while using Microsoft Copilot for Finance to automate monthly reconciliations.

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    1. ABB Group integrated Azure OpenAI Service into their Genix Copilot platform enabling customers to achieve up to 30% savings in operations and maintenance, 20% improvement in energy and emission optimization and an 80% reduction in service calls.
    2. Accelleron used Microsoft Power Platform to support numerous business applications and simplify processes for service agents and employees, resulting in the onboard of new agents in 30 minutes, compared to two days for other solutions.
    3. Accenture developed an AI-powered financial advisor that leverages RISE with SAP on Microsoft Azure to enhance their infrastructure and integrate financial data.
    4. Atomicwork leverages Azure OpenAI to bring together three power capabilities: a conversational assistant, a modern service management system and a workflow automation platform.
    5. Blink Ops fully embraced generative AI to build the world’s first Security Automation Copilot with more than 8,000 automated workflows to help any Security/IT task through prompts.
    6. Chalhoub Group is using Microsoft Fabric to modernize its data analytics and streamline its data sources into one platform, increasing agility, enhancing analytics and accelerating processes.
    7. Cineplex is developing innovative automation solutions for finance, guest services and other departments, saving the company over 30,000 hours a year in manual processing time.
    8. ClearBank moved its services to Microsoft Azure to gain scalability and efficiency, pushing out 183% more monthly system releases, gaining both scalability and efficiency.
    9. Danske Statsbaner increases productivity up to 30% with help from Microsoft AI solutions.
    10. Dentsu implemented Microsoft Azure AI Foundry and Azure OpenAI Service to build a predictive analytics copilot that supports media insights, cutting analysis time by 80% and overall time to insight by 90%, reducing analysis costs.
    11. Dow implemented Microsoft 365 Copilot to empower teams with AI-driven insights and streamline essential workflows by automating tasks across departments, saving millions of dollars on shipping operations in the first year.
    12. Eastman implemented Microsoft Copilot for Security realizing the benefits of accelerated upskilling, step-by-step guidance for response and faster threat remediation.
    13. Fast Shop migrated to Microsoft Azure creating a self-service culture of access to data, eliminating delays, reducing costs and increasing leadership satisfaction with data while providing more agility in reporting.
    14. Florida Crystals adopted a value-added solution across Microsoft products including Microsoft 365 Copilot to reduce telecom expenses and automate industrial process controls.
    15. GHD is reinventing the RFP process in construction and engineering with Microsoft 365 Copilot.
    16. GovDash is a SaaS platform that leverages artificial intelligence to streamline the entire business development life cycle for government contracting companies using Azure OpenAI.
    17. Grupo Bimbo is deploying Microsoft’s industrial AI technologies to modernize its manufacturing processes, optimizing production and reducing downtime, driving significant cost savings, and empowering global innovation.
    18. Insight Canada implemented Microsoft 365 Copilot to streamline business operations, with 93% of users realizing productivity gains in functions including sales, finance and human resources.
    19. Intesa Sanpaolo Group enhanced its cybersecurity with AI-enabled Microsoft Sentinel and Microsoft Copilot for Security, resulting in faster threat detection, increased productivity and reduced storage costs.
    20. Kaya deployed a custom implementation of Microsoft Dynamics 365 and Power BI to modernize its supply chain, leading to enhanced visibility, improved planning and streamlined inter-department operations.
    21. Lenovo leveraged Dynamics 365 Customer Service to rapidly manage customer inquiries by streamlining repetitive tasks, boosted agent productivity by 15%, reduced handling time by 20% and reached record-high customer satisfaction.
    22. Lionbridge Technologies, LLC is using Microsoft Azure and Azure OpenAI Service to accelerate its delivery times and improve quality, reducing project turnaround times by up to 30%.
    23. LTIMindtree integrated Microsoft Copilot for Security, offering automated incident response, integrated threat intelligence and advanced threat analysis.
    24. Mania de Churrasco used Microsoft Azure, Power Platform and Microsoft 365 to achieve high efficiency, security and scalability in its operations, in addition to improving its data intelligence, which indirectly participated in a 20% increase in sales year on year.
    25. National Bank of Greece built an Azure-powered Document AI solution to transform its document processing, improving the bank’s accuracy to 90%.
    26. Nest Bank has revolutionized its operations by integrating Microsoft 365 Copilot and Azure OpenAI Service, resulting in doubled sales and increased daily transactions from 60,000 to 80,000, showcasing the transformative impact of generative AI in the financial sector.
    27. Network Rail modernized their data analytics solution with Microsoft Azure, helping engineers understand data 50% faster than before and improve efficiency, passenger experiences and safety — all while saving costs.
    28. Nsure developed an AI-powered agent that uses Copilot Studio and Power Automate to reduce manual processing time by 60% while also reducing associated costs by 50%.
    29. Oncoclínicas implemented Microsoft Azure to transform its entire data ecosystem with a web portal and mobile application that performs all image processing and storage.
    30. Operation Smile used Azure OpenAI Service, Fabric and Power Apps to eliminate manual data entry, resulting in reduced translation errors by about 90% and the time required for completing reports from four to five hours to just 15 to 20 minutes.
    31. Pacifico Seguros has adopted Microsoft Copilot for Security to optimize its security operations and anticipate and neutralize threats more efficiently and effectively.
    32. Parexel adopted Azure Databricks and Microsoft Power BI, achieving an 85% reduction in data engineering tooling costs, a 30% increase in staff efficiency and a 70% reduction in time to market for data product delivery.
    33. Paysafe used Microsoft 365 Copilot to streamline meetings, information management and document creation, addressing language barriers, eliminating time-consuming tasks and boosting creativity along the way.
    34. Planted is integrating Azure OpenAI to manage everyday tasks more efficiently and facilitate the search for information for innovative process development.
    35. Presidio realized dramatic productivity gains saving 1,200 hours per month on average for the employees using Microsoft 365 Copilot and created 70 new business opportunities.
    36. Qatar Charity used Copilot Studio to increase its call center efficiency, reducing average handle time by 30%, increased customer satisfaction by 25%, and achieved a 40% reduction in IT maintenance costs.
    37. Saphyre uses Microsoft Azure and AI to provide an intelligent cloud-based solution that automates and streamlines financial trading workflows around client and counterparty life cycle management, reducing manual efforts by 75%.
    38. StarKist Foods used Azure to effectively unite production and demand processes with finance, reducing the planning cycle from 16 hours to less than one.
    39. Swiss International Air Lines migrated and modernized with Microsoft Azure, achieving up to 30% cost savings, a remarkable boost in platform stability along with enhanced security visibility.
    40. ZEISS Group uses Microsoft Fabric to create a secure and trusted data supply chain that can be shared effortlessly across a range of business units.
    41. ZF Group builds manufacturing efficiency with over 25,000 apps and 37,000 unique active users on Power Platform.

    Bending the curve on innovation

    Generative AI is revolutionizing innovation by speeding up creative processes and product development. It’s helping companies come up with new ideas, design prototypes, and iterate quickly, cutting down the time it takes to get to market. In the automotive industry, it’s designing more efficient vehicles, while in pharmaceuticals, it’s crafting new drug molecules, slashing years off R&D times. In education, it transforms how students learn and achieve their goals. Here are more examples of how companies are embracing generative AI to shape the future of innovation.

    New Stories:

    1. Agricultural Development Trust (ADT) of Baramati is analyzing water, weather, nutrient, pH data and more with AI to increase crop yields in India.
    2. DrumBeat.AI is using Microsoft AI services to predict, identify and treat ear diseases in communities that are both rural and remote, helping to prevent hearing loss among Indigenous communities in Australia.
    3. Dynamic Health Systems created its VitruCare365® platform on the Microsoft Cloud for healthcare technologies to enable motivational care planning. Built on Microsoft Azure, FHIR (Fast Healthcare Interoperability Resources) and Dynamics 365, it provides personalized apps powered by Azure OpenAI Service to each patient and is deployed as an extension to the Microsoft 365 tools clinicians use every day.
    4. Cities can use Esri’s ArcGIS geospatial platform to create environmental digital twins that simulate heavy rainfall and apply hot spot analysis to highlight flooding. Adding Azure AI to the geospatial digital twin will reveal insights in impossible amounts of data.
    5. Digital employment agency Gojob developed Aglae, a virtual assistant based on Azure OpenAI Service, to pre-qualify candidates within 15 minutes, enabling recruiters to achieve record employment placement rates.
    6. Institut Curie and Microsoft partner Witivio developed Copilot for Researcher, an agent that can help researchers with some of the administrative tasks in their jobs so they have more time to spend on actual new ideas in the fight against cancer.
    7. NASA created Earth Copilot to transform how people interact with Earth’s data.
    8. Parity is helping women athletes use data and AI to help improve their well-being, performance and careers.
    9. Petbarn created “PetAI” using Azure OpenAI Service, Azure AI Search and Azure App Service to provide Australian pet owners highly personalized advice and product recommendations.
    10. Project Guacamaya is using daily satellite images and various AI models tailored to the Amazon ecosystem to help prevent its deforestation, allowing for quicker action to be taken in at-risk areas.
    11. Properstar developed a solution to simplify the analysis of unstructured real estate data and create a dynamic, AI-powered filtering system that provides more nuanced search results.
    12. RadarFit is using generative AI and a unique gamification strategy to encourage healthy habits in Brazil, with a comprehensive health and wellness program aimed at helping companies reduce chronic disease rates.
    13. SEDUC is using Microsoft 365 Copilot for administrative tasks — such as generating legal documents and handling administrative inquiries — and has expanded to include AI usage with students and teachers, including personalized learning to cater to individual student needs and help them recover from learning losses during the pandemic.
    14. Indonesia’s Universitas Terbuka used Microsoft Azure OpenAI services and Azure AI Foundry to build an AI tutor that delivers accurate, curriculum-aligned responses and streamlines student assessment. The tutor currently supports 500 classes and some 100,000 students.
    15. World Traveler is using AI including Microsoft Reading Progress and Microsoft Immersive Reader to help teachers reach its globally and educationally diverse students with personalized learning experiences.
    16. South Korean startup Wrtn Technologies brings ATI close to people, with a “superapp” that compiles an array of AI use cases and services, but localized for Korean users to integrate AI into their everyday lives.

    ————————————————————————————————————————–

    1. Air India has incorporated Microsoft 365 Copilot into multiple departments, unlocking a new realm of operational insights that not only provides critical data on flight punctuality and operational hurdles, but also empowers proactive, collaborative decision making.
    2. Agnostic Intelligencedeployed Azure OpenAI Service to eliminate time-consuming tasks, saving users up to 80% of their time, and enabling IT managers to focus on innovation and quality assurance.
    3. Albert Heijn is using Azure OpenAI for everything from customer personalization to demand forecast and food waste projects, making it easier for its customers to change their lifestyle.
    4. Amgen is using Microsoft 365 Copilot to boost productivity and has the potential to speed up drug development and support advancements in their business processes.
    5. APEC leverages Microsoft Azure and deep neural network algorithms to develop an app that enables healthcare providers to capture retinal images, increasing the accuracy to identify Retinopathy of Prematurity (RoP) to 90%.
    6. ASOS is using Azure AI Studio to help customers discover new looks with genuine shopping insights, personalized conversations, naturalism and even humor to enliven the shopping journey.
    7. Auburn University is incorporating Microsoft Copilot to promote AI literacy, accessibility and collaboration, with the aim to expand educational and economic opportunities for its entire academic community with AI-centric tools.
    8. B3 launched an AI assistant using Azure OpenAI Service that aids 10,000 users a day to answer Brazilians’ questions about how to start investing.
    9. Basecamp Research aims to build the world’s largest database of national biodiversity and apply AI and machine learning to advance bioscience.
    10. Bayer is using Microsoft Copilot to contribute to feeding a growing global population and helping people lead healthier, disease-free lives.
    11. BMW AG implemented Azure AI to develop a mobile data recorder copilot for faster data management helping engineers reduce the lead time for insights from days to hours or sometimes minutes.
    12. Brembo leveraged Azure OpenAI to develop ALCHEMIX, a solution to generate innovative compounds for its brake pads, drastically reducing the development time of new compounds from days to mere minutes.
    13. Canary Speech can now train new vocal models in as little as two months and handle millions of transactions per month with Microsoft Azure.
    14. CapitaLand simplified internal processes increasing efficiency to more than 10,000 man-days saved per year and deployed Azure OpenAI Service to build the first AI hospitality chatbot for its lodging business.
    15. Cassidy is using Azure OpenAI Service to enhance efficiency across various industries, supporting over 10,000 companies.
    16. Coca-Cola is implementing Azure OpenAI Service to develop innovative generative AI use cases across various business functions, including testing how Microsoft 365 Copilot could help improve workplace productivity.
    17. Denso is developing “human-like” robots using Azure OpenAI Service as the brain to help robots and humans work together through dialogue.
    18. eFishery is using Azure OpenAI for farmers to get the data and insights on fish and shrimp farming, including more precise feeding and water quality monitoring.
    19. EY developed an application that automatically matches and clears incoming payments in SAP, resulting in an increase from 30% to 80% in automatically cleared payments and 95% matched payments, with estimated annual time savings of 230,000 hours globally.
    20. EY worked with Microsoft to make Azure AI Foundry more inclusive for all, serving the 20% of the global workforce identifying as neurodivergent.
    21. FIDO is using Azure OpenAI Service to develop an AI tool that uses sound to pinpoint leaky pipes, saving precious drinking water.
    22. Georgia Tech is using Azure OpenAI Service to enhance the electric vehicle (EV) charging infrastructure, achieving rapid data classification and predictive modeling, highlighting the reliability of networked chargers over non-networked ones.
    23. GigXR developed a solution to create the intelligence for specific AI patients using Microsoft Azure OpenAI Service and other Azure services.
    24. GoTo Group is significantly enhancing productivity and code quality across its engineering teams by adopting GitHub Copilot, saving over seven hours per week and achieved a 30% code acceptance rate.
    25. GovTech used Microsoft Azure OpenAI Service to create LaunchPad, sparking more than 400 ideas and 20 prototypes, laying the foundation for the government to harness the power of generative AI.
    26. H&R Block is using Azure AI Studio and Azure OpenAI Service to build a new solution that provides real-time, reliable tax filing assistance.
    27. Haut.AI provides skin care companies and retailers with customizable, AI-based skin diagnostic tools developed with the help of Microsoft AI.
    28. Helfie is building a solution that caters to healthcare providers who can arm their patients with an application to more quickly and accurately access the care they need.
    29. Hitachi will implement Azure Open AI Service, Microsoft 365 Copilot and GitHub Copilot to create innovative solutions for the energy, mobility and other industries.
    30. Icertis is providing AI-based tools that will recognize contract language and then build algorithms to automatically choose the right approach based on the content of the contract.
    31. Iconem leveraged AI-generated imagery to process and analyze a vast amount of photogrammetry data used to create the 3D digital twin of St. Peter’s Basilica, allowing visitors to explore every intricate detail from anywhere in the world.
    32. ITOCHU is using Azure OpenAI Service and Azure AI Studio to evolve its data analytics dashboard into a service that provides immediate recommendations by automatically creating evidence-based product proposals.
    33. IU International University of Applied Sciences (IU) is using the power of Azure OpenAI Service to develop Syntea, an AI avatar integrated into Microsoft Teams and Microsoft 365 Copilot, making learning more personalized, autonomous and flexible.
    34. Khan Academy has partnered with Microsoft to bring time-saving and lesson-enhancing AI tools to millions of educators.
    35. Lufthansa Group developed an animated 3D avatar called Digital Hangar to help guide passengers from initial travel inspiration to flight booking through an exchange with an Avatar in natural language.
    36. Mia Labs implemented Azure OpenAI to produce and protect its conversational AI virtual assistant Mia that provides fast support from investors, along with the sophisticated security posture and threat protection capabilities for AI workloads.
    37. Mitsubishi Heavy Industries is using Azure OpenAI Service to help accelerate digital innovation in power plants.
    38. Molslinjen has created an AI analytics toolbox that has reduced fuel emissions, improved customer satisfaction and brought in millions of additional revenue.
    39. New Sun Road implemented AI into a local controller for energy systems to balance the supply, storage and use requirements. This optimized loads to accelerate the deployment of renewable energy for local clean power for communities.
    40. Novo Nordisk recently published initial results with predictive AI models for advanced risk detection in cardiovascular diseases, including an algorithm that can predict patients’ cardiovascular risk better than the best clinical standards.
    41. Ontada implemented Azure AI and Azure OpenAI Service to target nearly 100 critical oncology data elements across 39 cancer types and now accesses an estimated 70% of previously unanalyzed or unused information, accelerating its life science product development, speeding up time to market from months to just one week.
    42. Paige.AI is using AI and Microsoft Azure to accelerate cancer diagnoses with data from millions of images.
    43. Pets at Home created an agent to help its retail fraud detection team investigate suspicious transactions.
    44. Plan Heal is using Microsoft AI to create solutions that enable patients to monitor and report health metrics so care providers can better serve them.
    45. Pacific Northwest National Laboratory (PNNL) is testing a new battery material that was found in a matter of weeks, not years, as part of a collaboration with Microsoft.
    46. Rijksmuseum is harnessing the power of Copilot to make art accessible at scale by joining forces with Microsoft to improve and expand the art experience for blind and low-vision community members.
    47. Royal National Institute of Blind People is using Azure AI services to develop an AI-based solution that quickly and accurately converts letters to braille, audio, and large print formats.
    48. Schneider Electric provides productivity-enhancing and energy efficiency solutions and is using a whole suite of AI tools to hasten its own innovation and that of its customers.
    49. SPAR ICS created an award-winning, AI-enabled demand forecasting system achieving 90% inventory prediction accuracy.
    50. SustainCERT deployed GenAI and machine learning for automated data verification, extraction from documents and to accelerate auditing processes to enable verifying the impacts and credibility of carbon credits.
    51. Suzuki Motor Corporation is adopting Azure OpenAI Service for data security, driving company-wide use with five multipurpose apps.
    52. Tecnológico de Monterrey created a generative AI-powered ecosystem built on Azure OpenAI Service with the goal to personalize education based on the students’ needs, improve the learning process, boost teachers’ creativity and save time on tedious tasks.
    53. TomTom is using Azure OpenAI Service, Azure Cosmos DB and Azure Kubernetes Service to revolutionize the driver experience.
    54. Toyota is deploying AI agents to harness the collective wisdom of engineers and innovate faster in a system named “O-Beya,” or “big room” in Japanese. The “O-Beya” system currently has nine AI agents — from a Vibration Agent to a Fuel Consumption Agent.
    55. Unilever is partnering with Microsoft to identify new digital capabilities to drive product innovation forward, from unlocking the secrets of our skin’s microbiome to reducing the carbon footprint of a multibillion-dollar business.
    56. Unity used Microsoft Azure OpenAI Service to build Muse Chat, an AI assistant that can guide creators through common questions and help troubleshoot issues to make game development easier.
    57. University of South Florida is using Microsoft 365 Copilot to alleviate the burden of repetitive, time-consuming tasks so faculty and staff can spend this time creatively solving problems, conducting critical research, establishing stronger relationships with peers and students and using their expertise to forge new, innovative paths.
    58. Utilidata built the first distributive AI and accelerated computing platform for the electric grid allowing flexible transformation and dynamic infrastructure to increase electrification and decarbonization.
    59. Visma has developed new code with GitHub Copilot, Microsoft Azure DevOps and Microsoft Visual Studio as much as 50 percent faster, contributing to increased customer retention, faster time to market and increased revenue.
    60. Wallenius Wilhelmsen is implementing Microsoft 365 Copilot and using Microsoft Viva to drive sustainable adoption, streamlining processes, empowering better decision making and cultivating a culture of innovation and inclusion.
    61. Wipro is committed to delivering value to customers faster and improving the outcomes across the business by investing $1 billion in AI and training 200,000 employees on generative AI principles with Microsoft Copilot.

    Read more:

    IDC InfoBrief: sponsored by Microsoft, 2024 Business Opportunity of AI, IDC# US52699124, November 2024

    Tags: AI, AI Azure, Azure OpenAI Service, Copilot, Copilot Studio, Microsoft 365 Copilot

    MIL OSI Economics

  • MIL-OSI United Nations: Experts of the Committee on the Elimination of Discrimination against Women Commend Nepal on Increased Representation of Women in the Public Sector, Raise Questions on the “Chhaupadi” Practice and Women’s Right to Confer Citizenship

    Source: United Nations – Geneva

    The Committee on the Elimination of Discrimination against Women today concluded its consideration of the seventh periodic report of Nepal, with Committee Experts commending the State for increasing the representation of women in the public sector, while raising questions on the “Chhaupadi” practice affecting menstruating women and girls, and Nepalese women’s right to confer citizenship to their spouses and children.

    Hiroko Akizuki, Committee Expert and Country Rapporteur for Nepal, reading questions on behalf of another expert, commended Nepal for its recent increases in the representation of women in the public sector, increasing over the last decade from just 8 per cent to almost 30 per cent now, with targets to increase this to 35 per cent by 2030.

    Another Expert said the Chhaupadi practice forcibly exiled menstruating women and girls from their homes to menstruation huts. Although this practice had been criminalised, its practise continued, and this had resulted in the deaths of menstruating women and girls from animal attacks. What was being done in this area and in the area of period poverty? How could the engagement of men and boys be mobilised against Chhaupadi?

    A Committee Expert noted that despite recent amendments to the Constitution, many discriminatory provisions still caused immense hardship to women, girls and their families, particularly when it came to passing on citizenship. Did the State party plan to address this gross violation of women’s rights by repealing several articles in the Constitution, allowing Nepalese women to transfer their nationality to their spouses on equal terms? How would the State party enable stateless children to access social services? Were there plans to ensure universal birth registration in the State party, and to ratify the two United Nations conventions on statelessness?

    The delegation said the Government had conducted many programmes in the provinces where practices of Chhaupadi were practised. Ending traditional, harmful practices in society was not easy, and it took time to bring about change. The State had developed Chhaupadi guidelines in 2007 and was developing guidelines for the concept of dignified menstruation.

    The delegation said Nepal’s Constitution ensured that women had equal rights to confer citizenship to their children. In January 2025, the Government submitted the citizenship bill to address challenges for individuals and children whose mothers had passed away. If the father’s identity was unknown, citizenship could be granted based on the maternal line. This amendment aimed to confer citizenship to those born to a Nepalese mother outside Nepal’s borders. If the father of a child was not identified, the mother could register her family name at the birth of the child.

    Introducing the report, Nawal Kishor Sah Sudi, Minister for Women, Children and Senior Citizens of the Government of Nepal, said the State was proud to have four high-ranking women policymakers of the Government of Nepal in the delegation, as well as Ms. Bandana Rana, as a distinguished Committee Member of this Committee. Since the promulgation of the Constitution, the Federal Parliament had enacted 16 different laws related to fundamental rights, including the rights of women. The State had also made notable progress in women’s political representation and participation, with women holding 34 per cent of seats in the Federal Parliament. The Government also recently appointed its first woman Chief Secretary and the first woman Registrar in the Supreme Court of Nepal in history.

    In closing remarks, Ram Prasad Subedi, Permanent Representative of Nepal to the United Nations Office at Geneva, said the dialogue had been wonderful and constructive. The participation of all stakeholders was greatly appreciated. The Government was fully committed to upholding the Convention’s objectives.

    In her closing remarks, Nahla Haidar, Committee Chair, thanked the State party for its commitment and political will, and for the constructive dialogue.

    The delegation of Nepal was comprised of representatives of the Ministry of Women, Children and Senior Citizens; the Ministry of Law, Justice and Parliamentary Affairs; the Office of the Prime Minister and Council of Ministers; and the Permanent Mission of Nepal to the United Nations Office at Geneva.

    The Committee on the Elimination of Discrimination against Women’s ninetieth session is being held from 3 to 21 February. All documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage . Meeting summary releases can be found here . The webcast of the Committee’s public meetings can be accessed via the UN Web TV webpage.

    The Committee will next meet at 10 a.m. on Thursday, 6 February to consider the ninth periodic report of Belarus (CEDAW/C/BLR/9).

    Report

    The Committee has before it the seventh periodic report of Nepal (CEDAW/C/NPL/7).

    Presentation of Report

    NAHLA HAIDAR, Committee Chair, said the Committee was proud to have Ms. Bandana Rana as a member of the Committee from Nepal.

    NAWAL KISHOR SAH SUDI, Minister for Women, Children and Senior Citizens of the Government of Nepal, said the State was proud to have four high-ranking women policymakers of the Government of Nepal in the delegation, as well as Ms. Bandana Rana, as a distinguished Committee Member of this Committee. Nepal remained fully committed to the implementation of the Convention and had made substantial progress in developing a robust legal and policy framework that supported the empowerment of women and girls.

    Since the promulgation of the Constitution, the Federal Parliament had enacted 16 different laws related to fundamental rights, including the rights of women. These laws comprehensively addressed women’s rights and reflected the State’s commitment to strengthening legal protections. The Government of Nepal had commenced its sixteenth Periodic Plan (2024/25–2028/29) in 2024, which recognised the critical importance of gender-sensitive policies and prioritised gender equality and women’s empowerment as fundamental pillars of its development agenda.

    The citizenship (amendment) bill had been registered in Parliament, aiming to address citizenship challenges for individuals whose mothers had died early or were out of contact. Provisions ensured that if a father’s identity was unknown, citizenship could be granted based on maternal descent. Nepal had ratified the United Nations Palermo Protocol in 2020, and in 2024, an act to amend some of Nepal’s laws had been amended by widening the definition of trafficking to include foreigners and immigrants, and also criminalising human smuggling.

    Nepal was the second country in Asia to recognise same-sex marriage. Other legal processes, including marriage and identity cards for sexual and gender minorities, were underway. The Nepal Law Commission, an autonomous research body of the Government, was currently conducting a comprehensive study on discriminatory laws against the rights of gender and sexual minorities to initiate necessary legal reform in this regard. The State had also made notable progress in women’s political representation and participation, with women holding 34 per cent of seats in the Federal Parliament. The Government also recently appointed its first woman Chief Secretary and the first woman Registrar in the Supreme Court of Nepal in history.

    Nepal remained committed to combatting gender-based violence and had established women, children, and senior citizen service centres in 1996 as part of a dedicated unit within the Nepal Police to investigate gender-based violence cases effectively. Today, 232 fully functioning centres operated across the country, strengthening Nepal’s law enforcement response to violence against women.

    The Government provided free physical and mental healthcare services and protective measures. Currently, 94 government health institutions functioned as one-stop crisis management centres, alongside 21 service centres that served as transit homes, and 276 additional support centres. The Government of Nepal had established long-term rehabilitation centres, one at the national level and another at the provincial level. There were also 10 dedicated rehabilitation centres for victims of human trafficking and 53 community-based safe shelters, operating in collaboration with provincial governments, civil society organizations, and other stakeholders. Over 6,000 community-based networks were actively engaged in the fight against gender-based violence, reflecting Nepal’s strong commitment to protecting vulnerable groups and ensuring justice to the survivors.

    Nepal recognised the link between climate change, natural disasters, and gender equality, and had strengthened disaster preparedness to support and protect women, especially in vulnerable communities. The September 2024 floods in Kathmandu and nearby areas saw effective disaster management, ensuring shelter, healthcare, and essential services for affected communities. Nepal continued to integrate gender considerations into national climate policies to build long-term resilience.

    Nepal remained committed to ensuring justice for victims of past human rights violations, particularly in cases affecting women. The third amendment to the enforced disappearances enquiry, truth, and reconciliation commission act 2014, approved in August 2024, now explicitly included serious human rights violations in its amendment such as rape and grave sexual violence, intentional or arbitrary killings, enforced disappearances, inhumane or cruel treatment, and torture. A Special Court had been designated to adjudicate these cases and a dedicated investigative unit for sexual violence cases had been established.

    Nepal remained steadfast in its commitment to gender equality, women’s empowerment, and social justice. The State aimed to expand access to quality education for girls, particular in rural areas, enhance women’s economic independence, strengthen maternal health and gender-based violence support services, develop gender-sensitive infrastructure, and promote women’s leadership. While challenges remained, the State’s resolve was stronger than ever, and the Committee’s guidance was welcomed.

    Statement by the National Human Rights Institution

    LILY HAJUR BASNYAT THAPA, National Human Rights Commission of Nepal, said it was crucial to acknowledge progress made by the State. The affirmative actions taken by the Government of Nepal were highly appreciated. Despite constitutional guarantees, Nepal’s legal framework still contained critical gaps. Nepalese laws lacked comprehensive definitions of discrimination, particularly around direct, indirect, and intersectional forms of discrimination affecting women. While some protective measures existed, implementation remained inconsistent. A distinct legal provision with a comprehensive definition of discrimination was essential to ensure justice for women facing severe discrimination. More action needed to be taken to strengthen the institutional mechanism, the National Women’s Commission.

    The legal prohibition of entrenched harmful practices such as child marriage, Chhaupadi, discrimination against widows, and dowry, continued to persist. The Government of Nepal had expedited its efforts to amend almost a dozen laws to make them compatible with the Palermo Protocol, but it was too late to make amendments to the laws related to human trafficking. Furthermore, women often faced significant barriers in employment and migration. In sectors like tea plantations, where women constituted 80 per cent of the workforce, they lacked adequate maternity protections and faced potential wage cuts during pregnancy. Migrant women workers were particularly vulnerable, experiencing exploitation in destination countries with insufficient pre-departure training and reintegration support. Similarly, critical challenges persisted in sexual and reproductive healthcare. Rural and Madhesi women faced limited access to family planning and safe abortion services. Moreover, a deeply entrenched son preference continued to drive sex-selective practices, with statistics showing 112 boys born for every 100 girls in 2021.

    Several critical areas demanded immediate attention. Women faced substantial restrictions in conferring citizenship to children and spouses, unlike their male counterparts. Rural women had limited access to sexual and reproductive health services, and comprehensive sexuality education remained restricted. Indoor pollution where 80 per cent of rural cooking happened without ventilation, caused around 7,500 annual deaths, disproportionately affecting women. The Commission proposed several critical interventions including to enact comprehensive anti-discrimination legislation, establish robust mechanisms for women’s protection, strengthen political representation through practical measures, improve migrant worker protections, enhance sexual and reproductive healthcare access, and address systemic gender stereotypes. The Committee was urged to strongly recommend the full and immediate implementation of women’s constitutional and legal rights in line with the Convention and the Committee’s previous recommendations.

    Questions by a Committee Expert

    HIROKO AKIZUKI, Committee Expert and Country Rapporteur for Nepal, said the Committee commended Nepal for its commitment to fulfilling its obligation and participation in the exchange despite repeated earthquakes and natural disasters. What efforts had been taken to adopt comprehensive anti-discrimination legislation, including a definition of discrimination against women, in both the public and private spheres? How did the State party address cross-cutting discrimination against women, including women with disabilities, lesbian, gay, bisexual, transgender and intersex women, indigenous women, and elderly women, among others? What measures had been taken to ensure the effective implementation of laws? What was the status and content of the special opportunity bill? Were women’s rights organizations participating in the drafting of the bill? What measures had been implemented to enhance women’s awareness of their rights, and the legal remedies available under the Convention? Were human rights being recognised as including the collective rights of indigenous women?

    Responses by the Delegation

    The delegation said Nepal was doing its best to implement legal reforms with a legal perspective. The State had a plan for an integrated gender-based violence act, which was underway and moving in a positive direction. Nepal’s Constitution provided the framework for fighting all acts of discrimination. The State was aware that there should not be any multiple and intersecting forms of discrimination. Nepal had several special laws which provided remedy for discrimination, including the human trafficking act, the domestic violence act, the sexual harassment at work act, the witchcraft accusation act, the labour act, and the victim crime act, among others, along with the Criminal Code, which provided no room for discrimination on any ground.

    At present, there were special opportunity provisions scattered in various laws. It was expected that the special opportunity bill would soon be enacted by the Parliament. There were paid lawyer systems in the court, and more than 41,000 people received these services last year. It was required that for any lawmaking, there should be consultation with stakeholders with all three tiers of Government, to ensure a participatory approach. This would be occurring with the legal aid bill in a few weeks. In 2024, 200 young lawyers were mobilised, with 121 being women, to provide legal aid. The State had begun to have a roster of pro-bono lawyers within the Nepal Bar Association, already this year they had provided 79 victims with pro-bono support, 79 of whom were women. There was no special law concerning the rights of indigenous women, but scattered laws covered these rights.

    Questions by Committee Experts 

    A Committee Expert asked what plans were in place to provide necessary resources to implement the national gender equality policy? Were there plans to establish provincial offices of the National Women’s Commission? What measures had been taken to address recommendations of the National sub-Committee, so it could fully comply with the Paris Principles? There were allegedly issues with financing for the resources assigned to the Ministry of Women; could more light be shed on this issue? How was the budget distributed and how were the issues dealt with? How effective were the decisions taken by the National Women’s Commission? Were their decisions binding? 

    Another Expert said temporary special measures were essential for ensuring equal opportunities for women in economic and social life. Could more information be provided about the State’s gender quotas? When would a gender equality principle be implemented directly into the Election Code of Conduct? How could temporary special measures be used to mitigate specific discrimination faced by minorities?

    Responses by the Delegation

    The delegation said the Government was actively implementing the gender equality policy, but faced challenges in this regard, including a lack of resources. Financial resources were being prioritised by the plan. After the federal election in 2017, 16 parliamentary panels were formed to monitor the Government’s work. A division was responsible for monitoring and implementing recommendations from the treaty bodies.

    Recently, Nepal had been taking many steps in the area of temporary special measures. In line with the Committee’s previous recommendations, the Government had enacted temporary special measures to accelerate women’s participation at all levels, particularly in the decision-making processes. One of the most notable achievements had been the gender balance in leadership at the highest level of the Government. It was mandated that the House of Representatives needed to include at least one woman. At the recent elections of the local level, it was mandated that at least one nominee for the position of Mayor or Deputy Mayor should be a woman. In the 2022 elections, over 40 per cent of women were elected as representatives, a notable improvement from the 2017 elections. In the Office of the Prime Minister, there was a committee to facilitate the recommendations of the National Human Rights Commission.

    Nepal had seven provinces and budgets were allocated at federal, provincial and local levels. The budget at the federal level was a bit low. The proposed civil services bill had proposed initiatives for indigenous women and other minorities. The provincial services act already sought to provide for minorities.

    Questions by Committee Experts

    A Committee Expert said Nepal had a new opportunity to address historical conflicts in ways which would set an example to other countries in the sub-continent. Despite the reconciliation commission and the commission on enforced disappearances, impunity for conflict-related violations persisted. There should be no amnesty or sentence reductions for rapists. Nepal’s long awaited transitional justice law was adopted in 2024, and the Committee congratulated the State on its many positive elements. But Nepal was encouraged to go further along the women, peace and security agenda. Was Nepal providing reparations for victims of conflict-related sexual violence? Had the law been changed? Nepal was the first Asian country to safeguard the rights of sexual and gender minorities which should be applauded. Nepal’s climate-related gender-based violence was correlated to climate crisis and this should be recognised and included in climate change action plans. How could the laws in Nepal be brought in line with the United Nations treaty on cybercrimes?

    The Chhaupadi practice forcibly exiled menstruating women and girls from their homes to menstruation huts. Although this practice had been criminalised, its practise continued, and this had resulted in the deaths of menstruating women and girls from animal attacks. What was being done in this area and in the area of period poverty? How could the engagement of men and boys be mobilised against Chhaupadi? How could the Kumari practices be modernised in line with modern sciences?

    A Committee Expert took note that the State party had ratified the Palermo Protocol in 2020. When was full compliance with the Protocol expected? Would the State party consider removing a provision which allowed the judiciary to fine victims if they failed to appear in court? Was the State party planning to change the provision which conflated trafficking with sex work? What steps were being taken to ensure trafficking cases were being dealt with in an acceptable time frame? The Committee noted with concern that the Government continued to impose restrictive age bans for women under 24 seeking domestic work, making them at a higher risk of becoming victims of trafficking. Would the State consider lifting these bans. How were migrant women’s needs addressed in bilateral labour agreements? Was pre-departure training provided for women migrants on labour rights or gender specific challenges?

    No progress seemed to have been made to secure the rights of adult sex workers. How and when would the State party formulate a comprehensive policy and legislative framework to ensure the protection of women in prostitution? How would Nepal punish law enforcement officers who targeted sex workers? How would the State support sex workers in leaving the profession and seeking new forms of work.

    Responses by the Delegation

    The delegation said the Government had conducted many programmes in the provinces where practices of Chhaupadi were practised. Ending traditional, harmful practices in society was not easy, and it took time to bring about change. The State had developed Chhaupadi guidelines in 2007 and was developing guidelines for the concept of dignified menstruation.

    Nepal had ratified the Palermo Protocol in 2020, and an act amended in 2024 widened the definition of trafficking. A draft policy and action plan aimed to address several elements of trafficking, including providing for reparations for victims and training for police and judges in human trafficking cases.

    The amended law had provided specialised scope to examine the issue of sexual violence, and had provided for a special court for cases of sexual violence. The amendment included the victim-centric approach, and aimed to ensure victims were satisfied with outcomes, including reparations.

    Nepalese law did not recognise prostitution. The Nepalese police were taking legal measures to criminalise the clients of prostitutes. The State was aware of the rights of sex workers, which needed to be protected. The 35 day statute of limitations had been abolished and extended to three months. Sex workers were equally entitled to enjoy their rights under the Nepalese Constitution.

    The State was in the process of amending the domestic violence act and would consider the aspect of technology-related gender-based violence. Legal reform was not the only means to intervene in harmful practices. For example, the Government, in cooperation with civil society organizations, was dedicated to controlling the exploitation of sex workers. Public awareness campaigns were being launched in the adult entertainment sector, and multiple efforts had been made to reduce the demand for prostitution through the distribution of leaflets and other media. Collaborative efforts were being made in border areas to monitor human trafficking issues.

    The Government, in support with partners, was working to implement programmes in the provinces with regard to child marriage, including through declaring “child marriage free areas”.

    Questions by Committee Experts

    HIROKO AKIZUKI, Committee Expert and Country Rapporteur for Nepal, reading questions on behalf of another expert, said last session the Committee adopted its latest general recommendation on parity in politics. The State party was commended for its implementation of electoral quotas; however, the low numbers of representation were concerning. What measures was the State party taking to address the low representation of women, particularly from minority groups? In the 2022 election, male voters greatly outnumbered female voters. Did the State party take any measures to ensure political literacy, and engagement among women and girls, to encourage their participation in democratic processes?

    Nepal was commended for its recent increases in the representation of women in its public sector, increasing over the last decade from just 8 per cent to almost 30 per cent now, with targets to increase this to 35 per cent by 2030. Could current data on the gender breakdown of management and decision-making positions in the public sector be provided, as well as any plans in place to increase these figures? Did the State party have any data on women in board and management positions in Nepal and what was being done to increase these figures? What was being done to protect women human rights defenders in the digital sphere?

    Another Expert said despite recent amendments to the Constitution, many discriminatory provisions still caused immense hardship to women, girls and their families, particularly when it came to passing on citizenship. Did the State party plan to address this gross violation of women’s rights, by repealing several articles in the Constitution, allowing Nepalese women to transfer their nationality to their spouses on equal terms. How would the State party enable stateless children to access social services? Were there plans to ensure universal birth registration in the State party, and to ratify the two United Nations conventions on statelessness? Was there a special arrangement in the new proposed bill which addressed Nepalese women married to refugees?

    Responses by the Delegation

    The delegation said the Government had introduced many special measures to accelerate gender equality. Recently, the Government had introduced issues of intersectional disparity, with bills drafted in this regard. Currently, the level of Nepalese female diplomats was low. The Government had taken steps last year to foster inclusivity in international representation, to encourage more diverse representation in foreign engagement. Nepal’s Constitution ensured that women had equal rights to confer citizenship to their children. in January 2025, the Government submitted the citizenship bill to address challenges for individuals and children whose mothers had passed away. If the father’s identity was unknown, citizenship could be granted based on the maternal line. This amendment aimed to confer citizenship to those born to a Nepali mother outside Nepal’s borders. If the father of a child was not identified, the mother could register her family name at the birth of the child.

    Nepal’s representation of women in the public sector had significantly improved, and the Government was making efforts to improve women’s participation in the private sector.

    Questions by a Committee Expert

    A Committee Expert said the Committee had noted with satisfaction significant progress made in the field of education, particularly the act approving compulsory, free education in 2018. The Committee also noted with satisfaction the adoption of the 10-year school education plan to 2032, prioritising female education and gender equality. What measures had been taken to strengthen the institutional capacities of local Governments, including dissemination in local languages? What measures were being taken to ensure access to education for all children, regardless of their caste or citizenship status, including girls of all ethnic or religious groups? The high prevalence of child marriage in certain provinces had resulted in a high dropout rate from schools. What measures were being taken to ensure pregnant and married girls could continue their education?

    Responses by the Delegation

    The delegation said every citizen had the right to access education. Persons with disabilities had the right to free education and every Nepalese community had the right to receive education in their mother tongue. Nepal had adopted the policy of no discrimination in education, whatever the status of citizens. There were some difficulties with children who did not have citizenship, but it was hoped the citizenship bill, currently under review by parliament, would rectify this issue. The Government had to provide free textbooks and other logistic support under the act on education for all. The central Government was providing around 11 per cent of the total budget to education, with around seven per cent being allocated to local levels. This allocation had been steadily increasing over recent years.

    In 2016, the median marriage age of Nepalese women was 17.9; it had now risen to 18.3 years. There were some cases of early marriage, and the State acknowledged this. The legal age of marriage had now been raised to 20. Other measures to combat early marriage included night school, counselling programmes, and youth programmes, which contributed to raising awareness and mitigating this issue.

    Responses by the Delegation

    The delegation said the Education Act prioritised education for marginalised communities. The State strove to ensure that education was inclusive for children with disabilities. Many scholarships were provided at local levels and there were policies for providing special grants in 2025. A commitment had been adopted which aimed to eradicate discrimination in education.

    Questions by a Committee Expert

    A Committee Expert commended the State party for policies and legislation in the field of employment, including the labour act, the social security act and the five-year strategic national action plan to 2025 on moving workers in the informal sector to the formal sector. However, there were still discrepancies, including the much lower level of female employment rate, compared to males. What measures had been taken to address the low representation of women in the workforce? What was the timeline for ensuring full payment for women in all sectors? Were enhanced provisions for equal sharing of work for women being envisaged with the new national action plan?

    Women made up only around 10 per cent of migrant workers. What was the timeline to remove the ban and preconditions for women going abroad for domestic work? What protection measures were available for women from online harassment? When would the State party amend the law on sexual harassment and ensure justice for women victims and access to legal aid? How many cases of sexual harassment were prosecuted in the past two years and how many convictions were issued? What measures were envisaged to ensure equal opportunities for women and girls, including those with disabilities, in the digital economy?

    Responses by the Delegation

    The delegation said an employment service centre supported women’s participation in the workforce. Nepal had made substantial progress in reducing the wage gap and promoting equal opportunities, but challenges still persisted. Women were overrepresented in lower sectors and underrepresented in leadership positions. To address these challenges, Nepal was introducing gender responsive policies and conducting leadership training, among other measures. The Government conducted monitoring through regulatory oversight and audits, supported by trade unions and workers. Collaboration was also undertaken with partners, including the World Bank and the International Labour Organization.

    Nepal’s five-year national action plan sought to integrate vulnerable groups into the formal economy through skills training and offering opportunities for workers to formalise their employment. The social security scheme provided support to women in the informal sector and assisted them to transfer to formal employment.

    Nepal was committed to protecting all its citizens, including female migrant workers. Equal treatment policies were in place for both men and women, prioritising their security and health. Nepal was working closely with destination countries, such as the United Arab Emirates, to ensure the safety of its workers. Nepal was incorporating assistive technology to address the needs of persons with disabilities. Specific programmes were being developed to provide training and employment opportunities for persons with disabilities.

    Recently, Nepal had adopted an action plan on business and human rights, which provided a human rights friendly approach for all workers. The State was also implementing the fifth national human rights action plan, which covered employment as a major issue.

    The sexual harassment at workplace act allowed for cases of sexual harassment to be reported, and cases could also be reported to the police. However, it was hard for the Government to collect data on this topic. The safe motherhood and reproductive health act also provided paternity leave to fathers. This equally applied to the public and private sectors. The legal provisions were there but people were often not aware of their rights under these acts.

    Questions by a Committee Expert

    A Committee Expert said since the last review, Nepal had made significant progress in its health policy, particularly in sexual and reproductive health, with the adoption of the national strategy against discriminatory sex selection. However, the maternal mortality rate remained high and there were serious deficiencies in care and health centres. Some women refrained from using contraception unless they gave birth to a male child, putting them at risk of sexually transmitted diseases. The stigma around these diseases and HIV/AIDS prohibited women from seeking timely access to healthcare. What measures did the State intend to adopt to confront these challenges? What would be done to improve maternal mortality and prevent women from contracting venereal diseases and HIV/AIDS? How would it be ensured that women and girls had access to family planning and reproductive health services?

    Abortion services were not easy to obtain or affordable for many women. What would be done to ban selective abortions? What mental health and suicide prevention services were available for women in Nepal? Would the invasive treatment of intersex persons be criminalised? Would forced sterilisation be criminalised, including against women and children with disabilities? How would free, prior and informed consent for women be guaranteed, including with respect to abortion?

    Responses by the Delegation

    The delegation said Nepal had begun a vaccination programme against the human papilloma virus for all women and girls across the country. There were several programmes in place which focused on sexual and reproductive health, including the Safe Motherhood Programme and the Safe Abortion Programme. Any woman could undertake an abortion up to 12 weeks without issue. Safe abortions were available in all seven provinces of the country. The Government acknowledged the importance of mental health support for women. Healthcare providers were provided with training to offer support to women who were navigating fertility issues.

    There were inconsistencies between the sexual and reproductive health act and the Criminal Code. Because of this, the process of the amendment of the Criminal Code had been enacted, in line with the safe motherhood act. Dignified menstruation guidelines had been introduced, and work was being done to ensure the school curriculum covered sexual and reproductive health education.

    Nepal had no record of cases in regard to forced sterilisation of persons with disabilities. A social service unit programme provided access to free health services for specific groups, including women and girls with disabilities.

    Questions by a Committee Expert

    A Committee Expert said in December 2024, the National Planning Committee introduced a framework to increase access to social security programmes for those from marginalised groups. However, women in Nepal still faced significant financial challenges when it came to property ownership, obtaining bank loans, and accessing credit. Family benefits such as pensions and social security were often controlled by male family members, leaving women financially dependent. How did the Government monitor and evaluate the effectiveness of laws and policies aimed at eliminating discrimination in economic and social life? What steps were being taken to address the gaps between legal provisions and their implementation? How were women’s equal inheritance and property rights being enforced? How did the Government ensure women from marginalised communities had equal access to economic resources? What measures were in place to ensure single mothers received the social security benefits they were entitled to? How did the Government ensure pensions and other benefits reached the rightful female beneficiaries rather than be controlled by male relatives?

    Responses by the Delegation

    The delegation said Nepal had launched several programmes for economic empowerment in different areas, with different financial incentives. A programme had supported 90,000 entrepreneurs, with 70 per cent of them being women. The integrated subsidised loan scheme for women entrepreneur development aimed to enhance women’s economic empowerment.

    Questions by Committee Experts

    A Committee Expert said agriculture contributed to one third of Nepal’s gross domestic product. However, most elements within the sector remained male dominated. What measures had been implemented to ensure equal measures to credit and financial support for women? How was their financial literacy being enhanced? What was being done to introduce agricultural tools specifically for women? How was rural women’s access to information being improved? What steps were being taken to mitigate regional disparities? Indigenous women and girls, including those with disabilities, remained largely invisible. What measures had been taken to collect disaggregated data by sex, location and other factors to fully understand the challenges faced by indigenous women and girls? What was being done to recognise indigenous women as a distinct group in laws and policies, and to address their unique vulnerabilities and exclusion?

    Another Expert said Nepal was ranked among the countries most impacted by climate change. Significant rainfall had led to major challenges, including landslides and floods. Could more information be provided on the national action plan 2023? How did it address the negative impact of climate change on women? How did the plan ensure the full and effective participation of indigenous women and recognise their crucial role as caretakers and agents of change?

    Responses by the Delegation

    The delegation said different financial literacy programmes had been introduced for women in different provinces. In one programme, whenever a girl was born, a bank account was opened and the provincial government would contribute 500 Nepalese rupees a month for up to 20 years to support her education and wellbeing. A programme supported vegetable production and was making technology more accessible to women and girls. The Government of Nepal was committed to implementing the Convention. The national gender equality policy 2027 emphasised gender equality in all areas, including indigenous women. In the House of Representatives, the deputy speaker belonged to an indigenous group, and quotas were in place to ensure indigenous women’s representation in politics.

    Nepal was a victim of the climate crisis; the country protected the environment but felt the impact of climate change. Women and indigenous women were disproportionately affected.

    Questions by Committee Experts

    A Committee Expert asked who was eligible for legal aid and for what legal matters? Did legal aid include representation in court? How did women, particularly those from marginalised communities, learn about the right to legal aid? Was legal aid provided through a gender lens? What measures were in place to provide targeted support to marginalised women facing intersectional discrimination, such as sex workers, to access legal aid? Could non-citizens access legal aid in some circumstances?

    Only 52 cases of child marriage were handled by the Nepalese police in 2023. What explained the wide gap between the figures and enforcement? What was being done to protect child brides from being prosecuted? What was being done to eradicate the practice of dowry? Could the delegation clarify the status of gay marriages? How was the safety of inter-caste couples ensured? What legal measures were in place to protect the rights of women in unregistered marriages, such as polygamous marriages?

    Responses by the Delegation

    The delegation said the free legal aid act had been enacted in 1997. Under the act, low earners, victims of domestic violence, and senior citizens could receive free legal aid. The State was working to change the criteria to ensure more vulnerable groups of people could receive access to free legal aid. Legal aid services included the preparation of documents, pleading in front of the court, and different administrative services. There was no particular law to provide non-citizens with legal aid, but this was a fundamental right for everyone.

    Same sex marriage was valid but there was no legal instrument legalising these marriages yet. The State was assessing laws and how they could be reformed to better protect the rights of this community. All marriages had to be registered. There was no discrimination on the grounds of sex when it came to properties; men and women had equal rights. The dowry system had been criminalised by the National Criminal Code. Nepal was committed to having a collaborative approach with civil society and other partners to eliminate harmful practices and sensitise people at the grassroots level. This was a continuous effort.
    Closing Remarks

    RAM PRASAD SUBEDI, Permanent Representative of Nepal to the United Nations Office at Geneva, said the dialogue had been wonderful and constructive. The participation of all stakeholders was greatly appreciated. Nepal had made significant progress in certain areas, including on the Committee’s past recommendations. While there was a lack of data, there was not a lack of action. The Government was fully committed to upholding the Convention’s objectives.

    NAHLA HAIDAR, Committee Chair, thanked the State party for its commitment and political will, and for the constructive dialogue. The Committee would send specific recommendations through for immediate follow-up.

     

     

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

    CEDAW25.003E

    MIL OSI United Nations News

  • MIL-OSI Asia-Pac: English rendering of PM’s reply to the Motion of Thanks on the President’s Address in Lok Sabha

    Source: Government of India

    Posted On: 04 FEB 2025 8:57PM by PIB Delhi

    Respected Chairman,

    I am present here to express my gratitude to the address of the honourable President. Yesterday and today till late at night, all the honourable MPs enriched this motion of thanks with their views. Many honourable experienced MPs also expressed their views, and naturally, as is the tradition of democracy, where there was need, there was praise, where there was a problem, there were some negative things, but this is very natural! Mr. Speaker, it is a great fortune for me that the people of the country have given me the opportunity to sit at this place for the 14th time and express my gratitude to the address of the President, and therefore, today I want to express my gratitude to the people with great respect, and I also express my gratitude to all those who participated in the discussion in the House and enriched the discussion.

    Respected Chairman,

    We are in 2025, in a way 25% of the 21st century has already passed. Time will decide what happened in the 20th century after independence and in the first 25 years of the 21st century, and how it happened, but if we study this President’s address closely, it is clearly visible that the President has told the country about the next 25 years and a new confidence-building speech for a developed India. In a way, this speech of the respected President is going to strengthen the resolve for a developed India, create new confidence and inspire the general public.

    Respected Chairman,

    All the studies have repeatedly said that in the last 10 years, the people of the country have given us a chance to serve them. 25 crore countrymen have come out of poverty by defeating the poverty.

    Respected Chairman,

    For five decades you have heard slogans of eradicating poverty and now 25 crore poor people have come out after defeating poverty. It does not happen just like that. It happens when one spend one’s life for the poor in a planned manner with full sensitivity and dedication.

    Respected Chairman,

    When people connected to the land spend their lives on the land while knowing the truth about the land, then change on the land is certain.

    Respected Chairman,

    We have not given false slogans to the poor, we have given them true development. The pain of the poor, the suffering of the common man, the dreams of the middle class are not understood just like that. Respected Chairman, this requires passion and I have to say with sadness that some people do not have it.

    Respected Chairman,

    How difficult it is to live under a thatched roof with plastic sheets during the rainy season. There are moments when dreams are crushed every moment. Not everyone can understand this.

    Respected Chairman,

    Till now the poor have got 4 crore houses. Those who have lived that life do not understand what it means to get a house with a concrete roof.

    Respected Chairman,

    When a woman is forced to defecate in the open, she can either go out before sunrise or after sunset after facing a lot of difficulties to do this small daily ritual, such people cannot understand what trouble she has to go through, respected chairman.

    Respected Chairman,

    We have solved the problems of our sisters and daughters by building more than 12 crore toilets. Respected Chairman, these days there is a lot of discussion in the media. It is happening more on social media. Some leaders are focusing on Jacuzzi and stylish showers in homes, but our focus is on providing water to every home. After 75 years of independence, 70-75% of the country’s population, i.e. more than 16 crore households, did not have tap water connection. Our government has provided tap water to 12 crore families in 5 years and that work is progressing rapidly.

    Respected Chairman,

    We have done so much work for the poor and because of this, the honourable President has described it in detail in his speech. Those who keep themselves entertained by having photo sessions in the huts of the poor will find it boring to talk about the poor in the Parliament.

    Respected Chairman,

    I can understand their anger. Respected Chairman, identifying the problem is one thing but if there is a responsibility then you cannot leave it after identifying the problem, you have to make dedicated efforts to solve it. We have seen, and you must have seen our work of the last 10 years and also in the President’s address, our effort is to solve the problem and we make dedicated efforts.

    Respected Chairman,

    There used to be a Prime Minister in our country, it had become a fashion to call him Mr. Clean. It had become fashionable to call the Prime Minister Mr. Clean. He had identified a problem and he had said that if 1 rupee comes out from Delhi, then only 15 paise reaches the village. Now at that time, from the Panchayat to the Parliament, there was rule of one party, from the Panchayat to the Parliament, there was rule of one party and at that time he had publicly said that 1 rupee comes out and 15 paise reaches. It was an amazing kind of sleight of hand. Even a common man of the country can easily understand to whom the 15 paise used to go.

    Respected Chairman,

    The country gave us an opportunity, we tried to find solutions. Our model is savings as well as development, public money for the public. We created the Gem Trinity of Jan Dhan, Aadhar and Mobile and started giving direct benefit, direct benefit transfer through DBT.

    Respected Chairman,

    During our tenure, we deposited Rs 40 lakh crore directly into the accounts of the people.

    Respected Chairman,

    Look at the misfortune of this country, how the governments were run and for whom they were run.

    Respected Chairman,

    When the fever rises, people say anything, but when along with it, frustration and despair spreads, even then they say a lot.

    Respected Chairman,

    10 crore such fake people who were not born, who had not appeared on this land of India, were taking benefit of various schemes from the government treasury.

    Respected Chairman,

    So that the right does not face injustice, without worrying about political gain or loss, we removed these 10 crore fake names and launched a campaign to find the real beneficiaries and provide help to them.

    Respected Chairman,

    When these 10 crore fake people are removed and the accounts of various schemes are calculated, then almost 3 lakh crore rupees were saved from going into wrong hands. I am not saying whose hands were involved, it was from the wrong hands.

    Respected Chairman,

    We have also made full use of technology in government procurement, brought transparency and today even state governments are using the Gem portal. The purchases made through the Gem portal cost less than what is usually made and the government has saved Rs 1,15,000 crore.

    Respected Chairman,

    Our Swachh Bharat Abhiyan was ridiculed a lot, as if we had committed a sin, a mistake. I don’t know what all was said, but today I can say with satisfaction that due to this cleanliness drive, the government has earned 2300 crore rupees in recent years from the junk sold from government offices alone. Mahatma Gandhi used to talk about the principle of trusteeship. He used to say that we are trustees, this property belongs to the people and therefore we try to save every penny on the basis of this principle of trusteeship and use it at the right place and only then 2300 crore rupees are coming into the government treasury by selling junk from the Swachh Bharat Abhiyan.

    Respected Chairman,

    We made an important decision of ethanol blending. We know that we are not energy independent and we have to import it from outside. When ethanol blending was done and our income from petrol and diesel decreased, that one decision made a difference of Rs 100000 crore and this money of almost Rs 100000 crore has gone into the pockets of farmers.

    Respected Chairman,

    I am talking about saving, but earlier the headlines of newspapers used to be, scams worth so many lakhs. Scams worth so many lakhs, scams worth so many lakhs, it has been 10 years since these scams were not committed. By not having scams, lakhs and crores of rupees of the country have been saved, which are being used in the service of the people.

    Respected Chairman,

    The various steps we have taken have saved lakhs of crores of rupees, but we have not used that money to build a palace for mirrors. We have used it to build the country. The infrastructure budget was Rs 180000 crore 10 years ago, before we came. Respected Chairman, today the infrastructure budget is Rs 11 lakh crore and that is why the President has described how the foundation of India is getting stronger. Be it roads, highways, railways or village roads, a strong foundation of development has been laid for all these works.

    Respected Chairman,

    Savings in the government treasury is one thing and that should be done as I said about trusteeship, but we have also kept in mind that the general public should also get the benefit of these savings. The schemes should be such that the public also saves and you must have seen the expenses incurred by the common man due to illness under the Ayushman Bharat Yojana. On the basis of the people who have taken its benefit till now, I would say that due to taking benefit of Ayushman Yojana, the expenses that the countrymen would have to bear from their own pockets, like this, Rs 120000 crore has been saved for the public. It is necessary that now like Jan Aushadhi Kendra, today in the middle class families, all the gentlemen are of 60-70 years of age, so it is natural that some disease or the other comes, there is also the cost of medicines, medicines are also expensive, since we have opened Jan Aushadhi Kendras, there is 80% discount and because of that, the families who have taken medicines from these Jan Aushadhi Kendras have saved nearly Rs 30000 crore on the cost of medicines.

    Respected Mr Chairman,

    UNICEF also estimates that they have done a big survey of the families whose homes have sanitation and toilets, that family has saved about Rs. 70,000 in a year. Be it the Swachhata Abhiyan, the work of building toilets, the work of providing pure water, our common families are getting  huge benefits.

    Respected Mr Chairman,

    I mentioned tap water in the beginning. There is a report from WHO, WHO says that because of getting pure tap water, the average family has saved Rs. 40000 on expenses incurred on other diseases. I am not counting much, but there are many such schemes which have saved the expenses of the common man.

    Respected Chairman,

    Free food grains are given to crores of countrymen, and the family saves thousands of rupees. PM Surya Ghar Free Electricity Scheme: Wherever this scheme has been implemented, those families are saving on an average 25 to 30 thousand rupees on electricity every year, there is saving in expenses and if there is more electricity, then they are earning money by selling it. That is, there is also saving for the common man. We had run a campaign for LED bulbs. You know that before we came, LED bulbs were sold for Rs. 400 each. We ran such a campaign that its price came down to ₹40 and because of LED bulbs there was saving of electricity and more light was also available and about 20,000 crore rupees of the countrymen were saved in this.

    Respected Chairman,

    Farmers who have used Soil Health Cards scientifically have benefited greatly and such farmers have saved Rs 30,000 per acre.

    Respected Mr Chairman,

    In the last 10 years, by reducing the income tax, we have also worked to increase the savings of the middle class.

    Respected Mr Chairman,

    Before 2014, such bombs were hurled, such bullets were fired that the lives of the countrymen were shattered. We gradually moved ahead by filling up those wounds. 200000 rupees, in 2013-14, ₹200000, only ₹200000, there was income tax exemption on that and today 12 lakh rupees are completely exempted from income tax and in the intervening period also in 2014, in 2017, in 2019, in 2023, we have been doing this continuously, healing the wounds and today the bandage that was left has also been done. If we add 75000 standard deduction to it, then after 1st April, the salaried class of the country will not have to pay any income tax up to 12.75 lakh rupees.

    Respected Chairman,

    When you were working in Yuva Morcha, you must have heard and read about a Prime Minister who used to say 21st century, 21st century almost every day. In a way, it had become a memorized phrase, it had become a catchphrase. He used to say 21st century, 21st century. When it was said so often, R K Laxman had made a great cartoon in Times of India. That cartoon was very interesting. In that cartoon, there is an airplane and a pilot. I don’t know why he liked the pilot. Some passengers were sitting and the airplane was placed on a cart and workers were pushing the cart and 21st century was written on it. That cartoon seemed like a joke at that time, but later on it proved to be true.

    Respected Mr Chairman,

    This was a sarcasm; it was a cartoon that demonstrated how disconnected from ground reality the then Prime Minister was that he was engaged in baseless talk.

    Respected Mr Chairman,

    Those who then talked about the 21st century were not even able to fulfill the needs of the 20th century.

    Respected Mr Chairman,

    Today when I see that I have got the opportunity to look closely at all the things that happened in the last 10 years, I feel very sad. We are 40-50 years late, the work which should have been done 40-50 years ago, and hence this year when the people of the country gave us the opportunity to serve from 2014, we focused more and more on the youth. We emphasized on the aspirations of the youth, we created more opportunities for the youth, we opened many sectors and due to which we are seeing that the youth of the country are waving the flag of their capabilities. We opened the space sector in the country, opened the defense sector, brought the semiconductor mission, we gave shape to many new schemes to promote innovation, completely developed the Startup India ecosystem and in this budget also, respected Chairman ji, a very important decision has been taken. Income tax exemption on income of Rs 12 lakh, this news became so big that many important things have still not been noticed by some people. That important decision has been taken; we have opened up the nuclear energy sector and the country is going to see its far-reaching positive impacts and results.

    Respected Mr Chairman,

    We are also among those who are making efforts to discuss AI, 3D printing, robotics, virtual reality and what is the significance of gaming. I have told the youth of the country that why should India not become the gaming capital of the world and the creativity capital of the world and I see that our people are working very fast. Some people use this word when it is in fashion, but for me there is no single AI, there is double AI, India has double strength, one AI is Artificial Intelligence and the other is AI Aspirational India. We started 10000 tinkering labs in schools and today the children coming out of those tinkering labs are surprising people by making robotics and in this budget, provision has been made for 50000 new tinkering labs. India is a country about whose India AI mission the whole world is very optimistic and India’s presence has gained an important place in the world’s AI platform.

    Respected Mr Chairman,

    In this year’s budget, we have talked about investment in the domain of deep tech and I believe that in order to move ahead at a fast pace in deep tech and the 21st century being a completely technology driven century, it is necessary for us that India moves ahead very fast in the field of deep tech.

    Respected Mr Chairman,

    We are constantly working keeping the youth’s future in mind, but there are some parties that are constantly cheating the youth. These parties will give this allowance or that allowance during elections, they make promises but do not fulfill them.

    Respected Mr Chairman,

    These parties have become a disaster for the future of the youth. 

    Respected Chairman,

    The country has just seen in Haryana how we work. We had promised jobs without any expenditure and without any slips. As soon as the government was formed, the youth got jobs. This is the result of what we say.

    Respected Mr Chairman,

    Grand victory for the third time in Haryana and victory for the third time in the history of Haryana, this is a historic event in itself.

    Respected Mr Chairman,

    Historical result in Maharashtra too, blessings of the people, for the first time in the history of Maharashtra the ruling party has so many seats, we have achieved this with the blessings of the people.

    Respected Mr Chairman,

    In his address, the Honourable President has also discussed in detail the completion of 75 years of our Constitution.

    Respected Mr Chairman,

    Apart from the clauses in the constitution, there is also a spirit of the constitution and to strengthen the constitution, the spirit of the constitution has to be lived and today I want to explain this with examples. We are the people who live the constitution.

    Respected Mr Chairman,

    It is true that in our country, when the President addresses the House, he gives details of the government’s tenure for that year. Similarly, in the state, when the Governor addresses the House, he gives details of the activities of that state. What is the spirit of the Constitution and democracy? When Gujarat completed 50 years, we were celebrating its Golden Jubilee Year and luckily I was serving as the Chief Minister at that time, we took an important decision. We decided that in this Golden Jubilee Year, all the speeches of the Governors in the House in the last 50 years, that is, the governments of that time are praised in it. We said that all the speeches of the Governors in those 50 years should be prepared in the form of a book, a treatise should be made and today that treatise is available in all the libraries. I was from BJP, in Gujarat, there were mostly Congress governments. There were speeches of the governors of those governments, but the job of making them famous was being done by the BJP, this Chief Minister from the BJP, why? We know how to live the Constitution. We are dedicated to the Constitution. We understand the spirit of the Constitution.

    Respected Mr Chairman,

    You know that when we came in 2014, there was no honourable opposition. There was no Recognised Opposition Party. No one had come with even that many marks. There were many laws in India that had complete freedom to work according to those laws, there were many committees in which it was written that the Leader of the Opposition would be in them. But there was no opposition, there was no Recognised Opposition. This was our nature of living the Constitution, this was the spirit of our Constitution, this was our intention to follow the limits of democracy, we decided that even though there would not be an honourable opposition, there would not be a Recognised Opposition, but the leader of the largest party would be called in the meetings. This is the spirit of democracy, it happens then. Committees of the Election Commission, respected Mr Chairman,earlier the Prime Minister used to file it and issue it, it is we who have included the Leader of Opposition in it and we have also made a law for it and today when the Election Commission will be formally formed, the Opposition Leader will also be a part of its decision making process, we do this work. And I have already done this, we do it because we live the Constitution.

    Respected Mr Chairman,

    You will find many places in Delhi where some families have built their own museums. The work is being done with the money of the people, what is the spirit of democracy, what is it called living the Constitution, we built the PM Museum and the life and work of all the Prime Ministers of the country from the first to my predecessors have been made in that PM Museum and I would like that the families of the great men who are in this PM Museum should take out time to see that museum and if they feel like adding something to it, then they should draw the attention of the government so that the museum is enriched and inspires the new children of the country, this is the spirit of the Constitution! Everyone does everything for themselves, the group of people who live for themselves is not very small, people who live for the Constitution are sitting here.

    Respected Mr Chairman,

    When power becomes service, nation building happens. When power is made a legacy, democracy ends.

    Respected Mr Chairman,

    We follow the spirit of the Constitution. We don’t do politics of poison. We give utmost importance to the unity of the country and that is why we build the world’s tallest statue of Sardar Vallabhbhai Patel and we remember the great man who worked to unite the country with the Statue of Unity and he was not from the BJP, he was not from the Jan Sangh. We live the Constitution, that is why we move forward with this thinking.

    Respected Mr Chairman,

    It is the misfortune of the country that these days some people are openly speaking the language of urban Naxals and the things that urban Naxals say, like taking on the Indian State, these people who speak the language of urban Naxals and declare war against the Indian State can neither understand the Constitution nor the unity of the country.

    Respected Mr Chairman,

    For seven decades, Jammu & Kashmir and Ladakh were deprived of the rights of the Constitution. This was injustice to the Constitution and also injustice to the people of Jammu & Kashmir and Ladakh. We broke the wall of Article 370, now the citizens of those states of Jammu & Kashmir and Ladakh are getting the rights that the countrymen have and we know the importance of the Constitution, we live by the spirit of the Constitution, that is why we take such strong decisions.

    Respected Mr Chairman,

    Our Constitution does not give us the right to discriminate. Those who live with the Constitution in their pockets do not know what kind of problems you forced Muslim women to live in. We have worked to give rights to Muslim daughters in accordance with the spirit of the Constitution by abolishing triple talaq, and have given them the right to equality. Whenever there has been an NDA government in the country, we have worked with a long vision. I don’t know what kind of language is being used to divide the country, I don’t know how far frustration and disappointment will take them, but what is our thinking, in which direction do the NDA partners think, for us, we pay more attention to what is behind, what is last and what Mahatma Gandhi had said and the result of that is that even if we create ministries, then which ministry do we create, we create a separate ministry for the North-East. We have been in the country for so many years, till Atal ji came, no one understood, he kept giving speeches, NDA created a separate ministry for the tribals.

    Respected Mr Chairman,

    Our southern states are connected to the sea coast. Many states in our east are connected to the sea coast. Fisheries work and fishermen are a very large part of the society there. They should also be taken care of and in the areas where there is a small amount of water inside the land, there are fishermen from the last section of the society too. It is our government which has created a separate ministry for fisheries.

    Respected Mr Chairman,

    The downtrodden and deprived people of the society have a potential within them, if emphasis is laid on skill development, new opportunities can be created for them. Their hopes and aspirations can create a new life and hence we created a separate Skill Ministry.

    Respected Mr Chairman,

    The first duty of democracy in the country is that we should give power to the common man and keeping this in mind, there is an opportunity to connect crores of people of the country to make the cooperative sector of India more prosperous and healthy. The cooperative movement can be increased in many areas and keeping this in mind, we have created a separate cooperative ministry. What is the vision is known here.

    Respected Mr Chairman,

    Talking about caste has become a fashion for some people. For the last 30 years, the MPs from the OBC community who have been coming to the House for the last 30 years, have been demanding for the last 30-35 years that the OBC Commission be given constitutional status by rising above party differences. Those who see profit in casteism today, did not remember the OBC community at that time, it is us who gave constitutional status to the OBC community. The Backward Classes Commission is included in the constitutional system today.

    Respected Mr Chairman,

    We have worked very strongly in the direction of providing maximum opportunities to SC, ST and OBC in every sector. Today, through this House, I want to put forth an important question before the countrymen and Mr. Speaker, the countrymen will surely ponder over this question of mine and will also discuss it at crossroads. Someone please tell me, has there ever been three SC MPs from the same family in the Parliament at the same time? Have there ever been three SC MPs from the same family? I want to ask another question, can someone please tell me whether there have ever been three ST MPs from the same family in the Parliament at the same time and in the same period?

    Respected Mr Chairman,

    I got the answer to one of my questions about the difference between the speech and behavior of some people. The difference is like the difference between the earth and the sky, the difference is like the difference between night and day.

    Respected Mr Chairman,

    How are we empowering SC ST society? Respected Chairman, I will give you an example of how the welfare of the deprived society is done while maintaining the spirit of unity without creating tension in the society. Before 2014, the number of medical colleges in our country was 387. Today there are 780 medical colleges. Now that the number of medical colleges has increased, the seats have also increased. This is a very important angle, Respected Chairman, and hence the colleges have increased and the seats have also increased. Before 2014, the MBBS seats for SC students in our country were 7700. Before we came, there was a possibility of 7700 youth from Dalit society becoming doctors. We worked for 10 years, today the number has increased and arrangements have been made for 17000 MBBS doctors of SC society. Where is 7700 and where is 17000, if there is any welfare of Dalit society and if there is no tension in the society while increasing the respect of each other.

    Respected Mr Chairman,

    Before 2014, there were 3800 MBBS seats for ST students. Today this number has increased to around 9000. Before 2014, there were less than 14000 MBBS seats for OBC students. Today their number has increased to around 32000. 32000 MBBS doctors will be made from OBC community.

    Respected Mr Chairman,

    In the last 10 years a new university has been established every week, a new ITI has been built every day, a new college has opened every 2 days, just imagine how much growth has taken place for our SC, ST, OBC young men and women.

    Respected Mr Chairman,

    We are behind every scheme- 100% saturation, implement it 100%, the beneficiaries should not be left out, we are working in that direction. First of all, we want that the one who is entitled to it should get it, if there is a scheme, then it should reach him, the game of 1 rupee 15 paise cannot work. But what some people did is that they made a model that gave to only a few people and torment others and did the politics of appeasement. To make the country a developed India, we will have to get rid of appeasement. We have chosen the path of satisfaction, not appeasement, and we are walking on that path. Every society, every class of people should get what is their right without any discrimination, this is satisfaction and according to me when I talk about 100% saturation, it means that it is actually social justice. This is actually secularism and in fact it is respect for the constitution.

    Respected Mr Chairman,

    The spirit of the Constitution is that everyone should get better health and today is also Cancer Day. Today, a lot of discussions are going on about health in the country and the world. But there are some people who are creating obstacles in providing health services to the poor and the elderly and that too due to their political interests. Today, 30,000 hospitals in the country and good specialized private hospitals are associated with Ayushman. Where Ayushman card holders get free treatment. But some political parties, due to their narrow mindset, due to bad policies, have kept the doors of these hospitals closed for the poor and cancer patients have suffered the loss. Recently, a study by the public health journal Lancet has come out, which says that cancer treatment is starting on time with the Ayushman scheme. The government is very serious about cancer detection. Because the sooner the detection is done, the sooner the treatment starts, we can save the cancer patient and Lancet has given credit to the Ayushman scheme and said that a lot of work has been done in this direction in India.

    Respected Mr Chairman,

    In this budget too, we have taken a very important step towards making cancer medicines cheaper. Not only this, an important decision has been taken in the coming days and since today is Cancer Day, I would definitely like to say that all the honourable MPs can take advantage of this for such patients in their area, and that is the patients, you know that due to lack of enough hospitals, patients coming from outside face a lot of problems, a decision has been taken in this budget to build 200 day care centers. These day care centers will provide great relief to the patient as well as his family.

    Respected Mr President,

    While discussing the speech of the President, foreign policy was also discussed and some people feel that unless they talk about foreign policy, they do not look mature, so they feel that foreign policy should be talked about even if it causes loss to the country. I want to tell such people, if they are really interested in foreign policy subject and want to understand foreign policy and want to do something in future, I am not saying this for Shashi ji, so I would tell such people to definitely read a book, maybe they will understand what to say where, the name of that book is JFK’s forgotten crisis. It is about JF Kennedy. It is a book named JFK’s forgotten crisis. This book has been written by a famous foreign policy scholar and important events are mentioned in it. This book also mentions the first Prime Minister of India and he also led the foreign policy. This book also describes in detail the discussions and decisions taken between Pandit Nehru and the then President of America, John F. Kane. When the country was facing a lot of challenges, what game was going on in the name of foreign policy then, is now coming to light through that book and so now I would say that please read this book.

    Respected Mr Chairman,

    After the President’s speech, it is your wish if a woman President, daughter of a poor family, could not be respected, but she is being insulted by all sorts of things being said. I can understand political frustration and disappointment, but what is the reason against a President, what is the reason.

    Respected Mr Chairman,

    Today India is moving ahead by leaving this kind of distorted mentality and thinking behind and following the mantra of women led development. If half of the population gets full opportunity, then India can progress at twice the speed and this is my belief, after working in this field for 25 years my belief has become stronger.

    Respected Mr Chairman,

    In the last 10 years, 10 crore new women have joined Self Help Groups (SHGs), and these women are from underprivileged families, from rural backgrounds. The strength of these women sitting at the bottom of the society has increased, their social status has also improved and the government has increased their assistance to Rs 20 lakh, so that they can take this work forward. We are making efforts in this direction to increase their work capacity, increase its scale and today it is having a very positive impact on the rural economy.

    Respected Mr Chairman,

    The President has discussed the Lakhpati Didi Abhiyan in his speech. According to the information registered so far after the formation of our new government for the third time, we have received information about more than 50 lakh Lakhpati Didis and since I have taken this scheme forward, till now about 1.25 crore women have become Lakhpati Didis and our target is to make three crore women Lakhpati Didis and for this, emphasis will be laid on economic programs.

    Respected Mr Chairman,

    Today, Drone Didi is being discussed in many villages of the country, a psychological change has come in the village, seeing a woman flying a drone in her hand, the villagers’ view of women is changing and today Namo Drone Didi has started earning lakhs of rupees by working in the fields. Mudra Yojana is also playing a very important role in the empowerment of women. Crores of women have stepped into the industry for the first time with the help of Mudra Yojana and have come into the role of industrialists.

    Respected Mr Chairman,

    Out of the houses given to 4 crore families, approximately 75 percent of the houses are owned by women.

    Respected Mr Chairman,

    This change is laying the foundation of a strong India of the 21st century. Respected Speaker, the goal of developed India is the rural economy, without strengthening it we cannot build a developed India and therefore we have tried to touch every sector of the rural economy and we know that agriculture is very important in the rural economy. Our farmers are a strong pillar among the four pillars of developed India. In the last decade, the budget for agriculture has been increased 10 times. Let me tell you about the period after 2014 and this is a very big jump.

    Respected Mr Chairman,

    Those who talk about farmers here today, before 2014, they used to be beaten up for asking for urea. They had to stand in queues all night and that was the time when fertilizers were issued in the name of farmers, but did not reach the fields, somewhere else in black millet and the game of sleight of hand of 1 rupee and 15 paise was going on. Today farmers are getting enough fertilizers. The great crisis of Covid came, the entire supply chain got disturbed, the prices in the world increased unreasonably and the result was that because we are dependent on urea, we have to import it from outside, today for the Indian government  a bag of urea costs ₹ 3000, the government has borne the burden and has given it to the farmer at a price less than 300, less than 300 rupees. We are continuously working to ensure that the farmer gets maximum benefit.

    Respected Mr Chairman,

    In the last 10 years, 12 lakh crore rupees have been spent to ensure that farmers get cheap fertilizers. Around 3.5 lakh crore rupees have been transferred directly to farmers’ accounts through PM Kisan Samman Nidhi. We have also increased the MSP on a record basis and have procured three times more in the last decade than before. Farmers should get loans, easy loans, cheap loans, and that too has increased three times. Earlier, farmers were left to fend for themselves during natural calamities. During our tenure, farmers have received 2 lakh crore rupees under PM Fasal Bima.

    Respected Mr Chairman,

    Unprecedented steps have been taken for irrigation in the last decade and it is unfortunate that those who talk about the Constitution do not have much knowledge. Very few people would know that in our country, Dr. Babasaheb Ambedkar’s vision regarding water schemes was so clear, so comprehensive and so inclusive that it inspires us even today. We launched a campaign to complete more than 100 irrigation projects that were pending for decades, so that water reaches the farmers’ fields. Babasaheb’s vision was to link rivers, Babasaheb Ambedkar advocated linking of rivers. But for years, decades passed, nothing happened. Today we have started work on the Ken-Betwa Link Project and the Parvati-Kalisindh-Chambal Link Project and I have also had a successful experience of working to revive extinct rivers by linking many rivers in Gujarat in this way.

    Respected Mr Chairman,

    This should be the dream of every citizen of the country. It should be the dream of all of us that there should be Made in India food packets on every dining table in the world. Today I feel happy when along with Indian tea, our coffee is also spreading its fragrance in the world. It is making a splash in the markets. Even our turmeric has seen the highest demand after Covid.

    Respected Mr Chairman,

    You will definitely see that in the coming times, our processed seafood and the Makhana of Bihar, which some people are worried about and don’t know when and why, is going to reach the world. Our coarse grain i.e. Shri Anna, will also increase the prestige of India in the world markets.

    Respected Mr Chairman,

    Future Ready cities are also very important for a developed India. Our country is rapidly moving towards urbanisation and this should not be considered a challenge or a crisis. It should be considered an opportunity and we should work in that direction. Expansion of infrastructure leads to expansion of opportunities. Where connectivity increases, possibilities also increase. The first Namo Rail connecting Delhi-UP was inaugurated and I also got the opportunity to travel in it. Such connectivity, such infrastructure should reach all the major cities of India, this is our need in the coming days and our direction.

    Respected Mr Chairman,

    Delhi’s network has doubled and today the metro network is reaching tier-2 and tier-3 cities as well. Today we can all be proud that India’s metro network has crossed 1000 km and not only this, work is currently underway on another 1000 km. That means we are progressing so fast.

    Respected Mr Chairman,

    The Government of India has taken many initiatives to reduce pollution. We have started running 12 thousand electric buses in the country and have also done a great service to Delhi. We have given this to Delhi as well.

    Respected Mr Chairman,

    A new economy has always been expanding from time to time in our country. Today, the Gig Economy is developing as an important area in big cities. Lakhs of youth are joining it. We have said in this budget that labour! Such Gig workers should register themselves on the e-Shram portal and after verification, how can we help them in this new age service economy and they should get an ID card after coming on the e-Shram portal and we have said that these Gig workers will also be given the benefit of Ayushman Yojana so that Gig workers will  move in the right direction and it is estimated that today there are about one crore Gig workers in the country and we are also working in that direction.

    Respected Mr Chairman,

    The MSME sector brings a huge number of job opportunities and this is a sector that has immense employment potential. These small industries are a symbol of self-reliant India. Our MSME sector is making a huge contribution to the country’s economy. Our policy is clear, simplicity, convenience and support to MSMEs is a sector that has employment potential and this time we have emphasized on Mission Manufacturing and in a Mission Mode, we are moving forward by giving emphasis to the entire ecosystem of manufacturing sector i.e. giving strength to MSMEs and giving employment to many youth through MSMEs and preparing youth for employment through skill development. We have started working on many aspects to improve the MSMEs sector. The criteria for MSMEs was made in 2006, it was not updated. In the last 10 years, we have tried to upgrade this criteria twice and this time we have taken a very big jump. For the first time in 2020, for the second time in this budget, we have tried to promote MSMEs. They are being given financial assistance everywhere.

    The challenge before MSMEs has been the lack of formal financial resources. During the Covid crisis, MSMEs were given a special emphasis. We have given special emphasis to the toy industry. We gave special emphasis to the textile industry, did not let them face cash-flow shortage and gave loans without any guarantee. Possibilities of lakhs of jobs were created in thousands of industries and jobs were also secured. 

    For small industries, we took steps in the direction of Customised Credit Card, Credit Guarantee Coverage, due to which their Ease of Doing Business also got a boost and by reducing unnecessary rules, their administrative burden, they had to pay one or two people for work, that too was stopped. You will be happy to know that we have made new policies to promote MSMEs, there was a time before 2014, we used to import things like toys, today I can proudly say that the small toy-making industries of my country are exporting toys to the world today and there has been a huge decline in imports. There has been an increase of about 239 percent in exports. There are many sectors run by MSMEs that are making their mark across the world. Made in India clothes, electronics, electrical scouts’ goods are today becoming a part of the lives of other countries.

    Respected Mr Chairman,

    The country is moving ahead to fulfill the dream of a developed India and is moving ahead with great confidence. The dream of a developed India is not a government dream. It is the dream of 140 crore countrymen and now everyone has to give as much energy as they can to this dream and there are examples in the world, in a period of 20-25 years many countries of the world have shown that they have become developed, so India has immense potential. We have demography, democracy, demand, why can’t we do it? We have to move ahead with this confidence and we are also moving ahead with the dream that by 2047, when the country will become independent, it will be 100 years of independence and by then we will become a developed India.

    And Honorable Chairman,

    I say with confidence that we have to achieve bigger goals and we will achieve them and Honorable Speaker, this is only our third term. As per the requirement of the country, we are going to remain dedicated for many years to come to build a modern India, a capable India and to realize the resolution of a developed India.

    Respected Mr Chairman,

    I appeal to all the parties, I appeal to all the leaders, I appeal to the countrymen, everyone has their own political ideologies, their own political programs, but nothing can be bigger than the country. The country is paramount for all of us and together we will fulfill the dream of a developed India, the dream of 140 crore countrymen is also our dream where every sitting MP is working to fulfill the dream of a developed India.

    Respected Mr Chairman,

    While expressing my gratitude for the President’s speech, I also express my gratitude to you and the House. Thank you!

     

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

    MIL OSI Asia Pacific News

  • MIL-OSI Video: Palestinians, Occupied Palestinian Territory, Gaza & other topics – Daily Press Briefing

    Source: United Nations (Video News)

    Noon Briefing by Stéphane Dujarric, Spokesperson for the Secretary-General.

    – Palestinians
    – Occupied Palestinian Territory
    – Gaza
    – Democratic Republic of the Congo
    – Sudan
    – South Sudan
    – Sweden
    – Aga Khan
    – Iraq
    – Senior Appointment
    – Financial Contribution
    – Guest

    PALESTINIANS
    This afternoon, the Secretary-General has a scheduled appearance at the Committee on the Exercise of the Inalienable Rights of the Palestinian People. In his remarks, he will tell the committee, following the agreement that has been in effect, that we must keep pushing for a permanent ceasefire and the release of all hostages without delay. We cannot go back to more death and destruction.
    In speaking to the broader situation, the Secretary-General will say that in the search for solutions we must not make the problems worse. It is vital to stay true to the bedrock of international law. It is essential to avoid any form of ethnic cleansing and, of course, he will reaffirm the two-state solution. And you can follow those remarks on UN WebTV starting at 3 p.m.

    OCCUPIED PALESTINIAN TERRITORY
    Our Under-Secretary-General for Humanitarian Affairs, Tom Fletcher, is continuing his visit to Israel and the Occupied Palestinian Territory. On the political level, Mr. Fletcher held discussions over the past two days with Israeli authorities, including President Isaac Herzog, as well as officials from the Coordinator of Government Activities in the Territories (COGAT) and the Ministry of Foreign Affairs.
    Mr. Fletcher described these engagements as practical, emphasizing the need to build on the progress since the ceasefire and sustain the large-scale delivery of UN aid into Gaza. On the ground, Mr. Fletcher visited today different areas of the West Bank.
    In East Jerusalem, he visited Silwan neighbourhood where he met with residents facing home demolitions and the threat of forcible eviction by Israeli authorities.
    Mr. Fletcher also toured what is known as Area C of the Ramallah governorate, where he heard and saw the humanitarian impact of access restrictions on the livelihoods of Palestinian and their daily lives. These restrictions include Israeli checkpoints and of course the 712-kilometre-long barrier.
    And just a short while ago in Ramallah, Mr. Fletcher held discussions with national Palestinian NGOs, who are at the heart of humanitarian response efforts across the Occupied Palestinian Territory.

    GAZA
    In Gaza, our humanitarian colleagues report that our aid operations – together with our partners – continue to scale up across the Gaza Strip. We are also carrying out assessments to determine the needs of impacted and displaced families, particularly the most vulnerable.
    Across Gaza, 22 bakeries supported by the World Food Programme are now operational. And our health partners continue to provide health services as well. We and our partners estimate that more than half a million displaced Palestinians have now returned to the governorates of both Gaza and North Gaza, where there is an urgent need for tents and shelter materials. Our partners say they’ve transported 22 truckloads of tents from southern to northern Gaza yesterday to address these needs but we need to get more tents in.
    For its part, UNICEF continues to distribute nutrition support for infants. Across Gaza, the World Food Programme has provided lipid-based nutrient supplements to more than 80,000 children and pregnant or breastfeeding women since the ceasefire took effect. Humanitarian partners have screened more than 30,000 children under the age of five for malnutrition since the ceasefire took effect. Of those children under five screened, over 1,000 cases of acute malnutrition have been identified, including 230 cases of severe acute malnutrition.
    And to sustain learning activities across the Gaza Strip, education partners established three new temporary learning spaces yesterday in Gaza, Rafah, and Khan Younis governorates, benefiting some 200 children.

    Full Highlights: https://www.un.org/sg/en/content/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=05%20February%202025

    https://www.youtube.com/watch?v=ocNAfzKmNWk

    MIL OSI Video

  • MIL-OSI Global: After he reached the Super Bowl, Colin Kaepernick’s racial justice protests helped expose US views toward sports activism

    Source: The Conversation – USA – By Betina Cutaia Wilkinson, Associate Professor & Associate Chair of Political Science, Wake Forest University

    San Francisco 49ers players Eric Reid, left, and Colin Kaepernick take a knee during the national anthem before a game against the Los Angeles Rams on Sept. 12, 2016. Daniel Gluskoter/AP Images for Panini

    Back in 2012, quarterback Colin Kaepernick was one of the NFL’s most popular stars. He led the San Francisco 49ers to the Super Bowl and was just a few plays away from winning the title and lifting the Lombardi Trophy.

    But America’s focus on Kaepernick’s athletic success waned in 2016. That’s when he began to kneel before games during the playing of “The Star-Spangled Banner” to protest the deaths of young Black men at the hands of white police officers.

    They included Alton Sterling and Philando Castile, two unarmed Black men killed by police in the summer of 2016.

    “To me, this is bigger than football, and it would be selfish on my part to look the other way,” Kaepernick said in The Guardian newspaper. “There are bodies in the street and people getting paid leave and getting away with murder.”

    Kaepernick’s activism, coinciding with the reemergence of the Black Lives Matter movement, received varied responses.

    Some NFL players, like Kaepernick’s then-teammate Eric Reid, imitated Kaepernick’s actions, generating a wave of anti-racist activism – not just in football but in other sports, too, like women’s basketball. Others, including several NFL executives, responded with vitriol and hate.

    A recent study I conducted with colleagues Lisa Kiang and Elizabeth Seagroves examines American attitudes toward sports activism, providing insight into the stark responses to Kaepernick’s advocacy and those of other athletes.

    Making sense of the varied responses

    We surveyed 207 college students and 33 residents in Winston-Salem, North Carolina, where I teach, to examine their views on racial justice activism among professional athletes.

    We found there were three general perspectives.

    One group supported the sports activism and tied it to changing the status quo. People in this group back athletes’ ability to serve as activists and role models, and they hope the protests generate meaningful sociopolitical change.

    “I thought it was very necessary and good,” said one participant in the study, referring to athletes’ activism. “I think that if they can use their platform for something good, they should.”

    When we asked about Kaepernick’s activism in 2016, these participants lauded him for his courage.

    They felt Kaepernick’s protests, along with the Black Lives Matter movement, helped raise awareness of racial injustices in the United States.

    Activists supporting players’ right to protest appear outside a hotel where NFL meetings were being held on Oct. 17, 2017, in New York.
    Spencer Platt/Getty Images

    Participants reject racial justice advocacy

    Other participants in our study expressed support for athletes’ right to protest, but they rejected their racial justice advocacy.

    They said athletes have the freedom to say what they think. And they tied the protests to the United States’ commitment to freedom of speech. But they disapproved of kneeling during the playing of the national anthem, labeling it as disrespectful.

    “I think most of it is good. If you have a platform, you should use it,” one participant told us. “However, when misinformation is spread, it becomes bad.”

    Several participants felt the conflation of the national anthem with protesting racial injustices was misleading and wrong, and this participant considered Kaepernick’s protest “misinformation.”

    Kaepernick’s activism elicited similarly mixed feelings at the time. A majority of the public viewed Kaepernick’s refusal to stand as unpatriotic. Most, however, also supported his right to free speech.

    In May 2018, NFL Commissioner Roger Goodell barred athletes from protesting on the sidelines during the national anthem, but he gave them the option to remain in the locker room during the playing of “The Star-Spangled Banner” if they preferred. The move came after players had protested racial inequality and police brutality for two seasons.

    “We want people to be respectful of the national anthem,” Goodell said, according to ESPN. “We want people to stand – that’s all personnel – and make sure they treat this moment in a respectful fashion. That’s something we think we owe. But we were also very sensitive to give players choices.”

    In June 2020, in the wake of George Floyd’s death and years into Kaepernick’s activism, Goodell apologized to players and reversed the policy, saying, “We were wrong for not listening to NFL players earlier.”

    Dontari Poe of the Dallas Cowboys kneels during the playing of the national anthem on Sept. 13, 2020, in Inglewood, Calif.
    AP Photo/Ashley Landis

    But team protests varied throughout the league.

    Some teams such as the Green Bay Packers and Jacksonville Jaguars, at least on one occasion, remained in their locker rooms during the playing of “The Star-Spangled Banner.”

    Some teams acted uniformly with the exception of one or two players. Dallas Cowboys player Dontari Poe was the only person on his team to kneel during the playing of the national anthem.

    The fact that not all players protested, and that teams had distinct approaches to protesting, is not surprising given the public’s varied responses to athlete activism.

    Complete disapproval

    A third group of participants in our study disapproved of sports activism entirely. And these participants often accompanied their criticism by saying that athletes strayed from their role as entertainers.

    “I don’t think it’s good because it’s giving people a reason not to like a professional athlete when their job is to play a sport. They are not politicians and haven’t been able to prove they can make a change,” said one participant.

    For example, when responding to WNBA player Skylar Diggins-Smith’s call for the imprisonment of the police officers in Louisville, Kentucky, involved in the 2020 shooting death of Breonna Taylor during a nighttime apartment raid, one participant said: “It’s not for the average citizen to call for police officers to be investigated. It’s just not OK for a professional athlete to push their agenda like that.”

    Our study, much like other studies, found that people who are white, older and politically conservative are more opposed to racial justice activism in sports than their counterparts.

    What does this mean?

    As seen in our study, U.S. views toward sports protests are tied to the role people believe athletes should play in society.

    For some, athletes can and should be role models; that includes by raising awareness of racial injustices. For others, athletes should only express their perspectives under certain conditions.

    And yet other Americans believe athletes are performers whose only role should be to entertain.

    Still, there’s no doubt Kaepernick’s activism changed the playing field, even if his NFL career suffered. After the 2016 season, he was never picked up by another team.

    Kaepernick’s activism inspired people to attend protests and donate to political causes.

    The NAACP has asked college athletes to avoid attending schools that are dismantling their diversity, equity and inclusion, or DEI, initiatives.

    Coach Steve Kerr and All- Star Steph Curry of the Golden State Warriors regularly voice their political views and draw attention to injustices.

    Several sports associations – the NFL, NBA, WNBA and NWSL – have implemented social justice initiatives and councils that strive to mobilize voters and educate the electorate on political issues.

    Colin Kaepernick’s activism may have ended his Super Bowl dreams, but his legacy extends far beyond the game of football.

    Betina Cutaia Wilkinson previously received funding from the Latino Center for Leadership Development.
    Lisa Kiang works with Betina Wilkinson at Wake Forest University. Elizabeth Seagroves was Betina Wilkinson’s student during her time at Wake Forest University

    ref. After he reached the Super Bowl, Colin Kaepernick’s racial justice protests helped expose US views toward sports activism – https://theconversation.com/after-he-reached-the-super-bowl-colin-kaepernicks-racial-justice-protests-helped-expose-us-views-toward-sports-activism-242672

    MIL OSI – Global Reports