Category: European Union

  • MIL-OSI Europe: EUROPE/POLOND – European Meeting of National Directors of the Pontifical Mission Societies on the new mission emergencies

    Source: Agenzia Fides – MIL OSI

    Warsaw (Agenzia Fides) – Reflection, prayer, sharing and dialogue on the challenges of evangelization were the focus of the Meeting of European National Directors of the Pontifical Mission Societies, held in Warsaw from 24 to 28 February. The meeting, which takes place every year in a different country (last year in Hungary, see Fides, 7/2/2024), was dedicated to sharing experiences at the local level and aims to join forces to face global missionary urgency together.The President of the Pontifical Mission Societies, Archbishop Emilio Nappa, presided over the Eucharistic celebration on Monday and opened the work the following day. On Tuesday and Wednesday, the program included speeches by the President of the Polish Bishops’ Conference, Archbishop Tadeus Wojda, and the President of the Episcopal Mission Commission, Bishop Jan Piotrowski. Thursday was dedicated to the meeting with the General Secretaries of the Pontifical Society for the Propagation of the Faith, Father Tadeusz Nowak (OMI), the Pontifical Missionary Union of Clergy, Father Anh Nhue Nguyen (OFMConv), and the Pontifical Society for Missionary Childhood, Sister Inês Paulo Albino (ASC).In addition to group meetings and moments of prayer, the participants from 24 European countries also had the opportunity to visit spiritually significant places, including the Shrine of the Immaculate Virgin Mary in Niepokalanów, founded by Saint Maximilian Kolbe.”The Church in Poland tirelessly proclaims the Gospel, engages in social work, carries out charitable initiatives, supports people in need and accompanies those who seek spiritual and material help.However, given the changing times, we are aware that great challenges await us. We must rediscover our zeal for evangelization and use new forms of communication that will allow us to better reach the younger generations. We must support the clergy, involve the laity and women more in order to work together according to their respective vocations and tasks and enable them to share responsibility for the Church,” said Archbishop Tadeus Wojda in his address on the state of the Church in Poland, in which he called for joint commitment, prayer and dialogue. The Chairman of the Episcopal Commission for Missions, Bishop Jan Piotrowski, not only outlined some of the milestones of the Catholic Church in Poland, but also gave an overview of the current reality of Polish missionaries “ad gentes”, most of whom work in Latin America and the Caribbean, including 26 bishops. (EG) (Agenzia Fides, 1/3/2025)

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    MIL OSI Europe News

  • MIL-OSI United Kingdom: New measures to boost small businesses benefitting from UK’s defence investment

    Source: United Kingdom – Executive Government & Departments

    News story

    New measures to boost small businesses benefitting from UK’s defence investment

    Government announces major support for small and medium enterprises (SMEs) following historic commitment to increase spending on defence.

    • New SME spending targets for defence will boost access to UK defence investment.
    • A new support hub will provide guidance to small businesses on accessing the defence supply chain, unlocking new jobs and putting more money in people’s pockets.
    • Move will ensure more money is spent directly with British small businesses and boost the economy of small towns and suburbs in every region of the UK as part of the Government’s new Defence Industrial Strategy.

    Thousands of small businesses in the UK will receive new government support to ensure they benefit from the historic decision to increase defence spending to 2.5% of GDP. This investment will protect UK citizens from threats at home, but also create a secure and stable environment in which businesses can thrive, supporting the Government’s number one mission to deliver economic growth.

    The government has today announced its plans to launch a new hub to provide small and medium enterprises (SMEs) with better access to the defence supply chain and committed to set direct SME spending targets for the Ministry of Defence by June this year. This is a chance for small, often family-owned, firms to bring their innovations, their agility and their expert workforce to the task of strengthening Britain’s defences. It will help create new jobs, boosting the economy of small towns and suburbs in the UK.

    It follows the Government’s historic uplift in defence spending to 2.5% of GDP by April 2027, with a commitment to hit 3% in the next Parliament. This investment in defence will deliver the stability that underpins economic growth, and will unlock prosperity through new jobs, improving the lives of people in every corner of the UK.

    The new hub and investment targets announced today will ensure this increased spending directly benefits SMEs as much as possible – supporting jobs, growth and innovation. This is a vote of confidence in the prospects of up to 12,000 SMEs, supporting them to raise finance and train workers with confidence. It marks further progress to deliver the government’s Plan for Change, putting more money in people’s pockets and rebuilding Britain.

    The move is designed to boost the resilience of the UK’s defence industrial base and to seize the full power of rapid technological change as part of the Government’s forthcoming Defence Industrial Strategy.

    Nearly 70% of defence spending goes to businesses outside London and the South East, bolstering local economies from Scotland to the North West. However, only 4% of this spending went to SMEs in 2023-2024, which is why the Government is stepping up to provide more support to SMEs and help them get their foot in the door in the defence supply chain. 

    Prime Minister Keir Starmer said:

    The UK’s defence industry is a source of national pride. It supports hundreds of thousands of good jobs up and down the country and represents British manufacturing at its best.

    Increasing our investment in defence is not only bolstering our national security, it is an opportunity to put more money into working people’s pockets and boost economic growth.

    By helping smaller businesses to access this money, we’re making communities across the UK better off and opening up more opportunities to train for good, skilled, productive jobs.

    Defence Secretary John Healey MP said:

    This Government’s historic increase in defence spending to 2.5% of GDP by April 2027 will boost national security and make defence an engine for economic growth throughout the UK.

    For too long small businesses felt locked out of defence, but we’ve listened and we’re acting. Today’s announcement will ensure that smaller firms benefit from increased defence spending, attracting new suppliers and fast-tracking the technologies of the future into the hands of our Armed Forces. 

    This a new era for defence and we will ensure it plays the fullest part in our national economic growth.

    The new Hub will work with suppliers across the nations and regions of the UK to ensure that it fully meets their needs. This will strengthen defence procurement through increased choice and faster access to innovation. It will keep the UK at the forefront of defence technology, improving the capabilities available to our Armed Forces, the competitiveness of UK industry and growing potential exports benefits.

    Defence is an engine for jobs and growth in every nation and region of the UK. In 2023-24, defence spending by the Government supported over 430,000 jobs across the UK, the equivalent to one in every 60. In the same year, the Ministry of Defence spent a total of £28.8 billion with UK industry, with spending in the East Midlands increasing by 30%, equivalent to £328 million, on the previous year. Northern Ireland also saw a rise of 20%, with other increases in Yorkshire and the Humber and the North West, up 19% and 18% respectively. With increased support for SMEs and the upcoming Defence Industrial Strategy, the Government plans to increase this further.

    Updates to this page

    Published 3 March 2025

    MIL OSI United Kingdom

  • MIL-OSI: Himax to Unveil Innovative WiseEye™ AIoT Solutions and Revolutionary Liqxtal® LC Optical Applications at embedded world 2025

    Source: GlobeNewswire (MIL-OSI)

    TAINAN, Taiwan, March 03, 2025 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (“Himax” or “Company”) (Nasdaq: HIMX), an industry leader in fabless display driver ICs and semiconductors, today announced participation in embedded world 2025, a world-leading trade show for embedded electronics and industrial computing, taking place in Nürnberg, Germany, from March 10-12, 2025. At the event, Himax will showcase its innovative WiseEye™ AI technology, featuring a range of AIoT solutions focused on ultralow power AI sensing, biometric authentication, and thermal imaging sensing applications. Additionally, in collaboration with its subsidiary Liqxtal Technology Inc. (“Liqxtal”), Himax will present revolutionary liquid crystal (“LC”) optical applications, advancing industrial embedded displays, vision-assisted systems, and smart wearables.

    Ultralow Power WiseEye AI Driving Next Era of AIoT, Smart Sensing, and Thermal Imaging Sensing
    Himax WiseEye Ultralow Power AI Smart Sensing is a cutting-edge, integrated endpoint AI solution, comprising Himax’s proprietary ultralow power WiseEye AI processors, always-on CMOS image sensors, and CNN-based AI algorithms, ideal for AIoT applications. It has gained widespread acclaim and adoption across biometric authentication, occupancy detection, people flow management, smart home, smart office, and more. Notably, the latest WiseEye2 AI processor is PSA (Platform Security Architecture) certified, featuring a security-by-design approach to provide a secure and reliable foundation for AIoT applications.

    Among the featured showcases, the WiseEye PalmVein Module integrates palm vein and facial recognition, leveraging bimodal authentication technology to meet market demands for flexible access control, ensuring reliable operation across diverse use environments. Traditional fingerprint and facial recognition methods are susceptible to age, fingerprint quality, height, and lighting conditions, leading to identification errors. In contrast, the WiseEye PalmVein solution overcomes these challenges with advanced liveness detection to deliver high-precision authentication. It achieves an exceptionally low False Acceptance Rate (FAR) of one in a million and a False Rejection Rate (FRR) below 1%, significantly reducing the risks of fake attack and unauthorized access.

    At embedded world 2025, Himax, in collaboration with ecosystem partner Calumino, will showcase industry-leading thermal imaging sensing solutions. The solution combines Himax’s ultralow power WiseEye AI processor, WiseEye2, and low-power HM0360 CMOS image sensor with Calumino’s proprietary CMOS and MOMS (Micro-Opto-Mechanical System) technologies and AI algorithms. The integration enables advanced use cases, including people flow detection, people counting, assisted living, predictive maintenance, health monitoring, and security enhancement, all with ultralow power consumption. This advancement brings unprecedented innovation to thermal imaging sensing, unlocking expanded possibilities.

    Innovative Liqxtal LC-based Optical Technology Enhancing Smart Displays and Wearables
    Liqxtal specializes in LC-based optical technology, expanding its expertise to display and optical components. At the event, Himax and Liqxtal will jointly unveil a series of cutting-edge, patented products, namely Liqxtal® Graph, Liqxtal® Dim, and Liqxtal® Pro-Eye.

    Liqxtal® Pro-Eye is an innovative eye-protective display technology that made its debut at CES 2025, receiving widespread acknowledgment among industry leaders and accelerating industry adoption. The next-generation Liqxtal® Pro-Eye display, which will be showcased at embedded world 2025, delivers a 125-inch virtual screen experience at close range or within confined spaces. In vision care, Liqxtal® Pro-Eye helps alleviate digital eye fatigue by reducing ciliary muscle strain, benefiting professionals exposed to prolonged screen use, as well as individuals with presbyopia and myopia. In industrial display solutions, it is redefining personal HMI in embedded applications, making it ideal for manufacturing, aerospace, and defense sectors that require long hours of focused monitoring and operation.

    Liqxtal will also showcase its one-of-a-kind professional smart eyewear collection, featuring the award-winning Liqxtal® Graph and innovative Liqxtal® Dim. The latest Liqxtal® Graph, built on Liqxtal’s patented reflective TFT liquid crystal architecture, supports Bluetooth connectivity and mobile app integration, enabling dynamic digital content display on the outer lens surface of smart glasses without obstructing the user’s vision, while maintaining the same comfort as traditional eyewear. It is ideal for IoT remote monitoring, smart assisted display, and identification management, further enhancing the value of smart wearables. Liqxtal® Dim integrates Liqxtal’s proprietary pixelated light valve control technology powered by WiseEye AI. This advanced system detects the position of incident light sources in real time to achieve adaptive light dimming functionality for smart sunglasses with a response time of under 8 milliseconds. Additionally, it supports programmable light attenuation modes, making it suitable for vision training assistive devices and seamless integration into smart safety eyewear and industrial-grade programmable light regulation systems, enhancing visual safety and assistance.

    Himax and Liqxtal invite all interested parties to visit our embedded world 2025 exhibition booth at Hall 4, Stand 4-503, located at NürnbergMesse, Messezentrum 1, 90471 Nürnberg, Germany. Experience our groundbreaking WiseEye AI technology and Liqxtal optical solutions firsthand. To schedule a meeting or booth tour, please contact Himax at HX_WISEEYE@himax.com.tw or Liqxtal at info@liqxtal.com.tw.

    About Liqxtal Technology Inc.

    Liqxtal Technology Inc. is a Taiwan based company that has been focused on exploring opportunities with liquid crystal (“LC”) beyond just displays since the company’s inception. With a distinguished track record in liquid crystal optics, Liqxtal has developed liquid crystal based optical components such as LC lens for ophthalmic application, LC diffuser for 3D sensing and LC retarder for light sensing. Additionally, Liqxtal designed and released LQ001, a high voltage & tunable frequency LC driver with a 1mm x 2mm footprint, which is particularly ideal for portable products. As a subsidiary of Himax Technologies, Liqxtal also integrates novel display solutions such as tunable backlight with local dimming capability powered by FPGA for niche applications. Lastly, Liqxtal is dedicated to novel vision eyewear technology and strives to innovate and advance useful optical solutions to the world.

    About Himax Technologies, Inc.

    Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEyeTM Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,649 patents granted and 402 patents pending approval worldwide as of December 31, 2024.

    http://www.himax.com.tw

    Forward Looking Statements

    Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2023 filed with the SEC, as may be amended.

    Liqxtal Contacts:

    Henry Hung, Deputy Director of Market & Sales Division
    Liqxtal Technology Inc.
    Tel: +886-6-505-0880
    Fax: +886-2-2314-0877
    Email: info@liqxtal.com

    Himax Contacts:

    Eric Li, Chief IR/PR Officer
    Himax Technologies, Inc.
    Tel: +886-6-505-0880
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw

    Karen Tiao, Investor Relations
    Himax Technologies, Inc.
    Tel: +886-2-2370-3999
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw

    Mark Schwalenberg, Director
    Investor Relations – US Representative
    MZ North America
    Tel: +1-312-261-6430
    Email: HIMX@mzgroup.us

    The MIL Network

  • MIL-OSI Africa: Wärtsilä Energy Joins Invest in African Energy (IAE) 2025 as Africa Pursues New Power Capacity

    Source: Africa Press Organisation – English (2) – Report:

    PARIS, France, March 3, 2025/APO Group/ —

    Christoffer Ek, Director for Decarbonization Services at Wärtsilä Energy, will join the Invest in African Energy (IAE) Forum 2025 in Paris this May, bringing his expertise in sustainable energy solutions and decarbonization technologies to the forefront of Africa’s energy transition.

    Wärtsilä Energy, a global leader in smart technologies and services for the energy industry, has been at the cutting edge of decarbonizing energy systems through its innovative solutions. The company is dedicated to helping nations and organizations transition towards cleaner, more sustainable energy solutions by focusing on flexible power systems and renewable energy integration. Wärtsilä’s decarbonization strategy emphasizes the role of advanced technologies such as energy storage, hybrid power plants and renewable energy sources to reduce carbon emissions and accelerate the energy transition.

    IAE 2025 (www.Invest-Africa-Energy.com) is an exclusive forum designed to facilitate investment between African energy markets and global investors.Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

    Wärtsilä has been playing a key role in fueling Africa’s industrial and mining growth through power generation. In Senegal, the company was awarded a contract in September 2024 to supply engines and auxiliary equipment for a 17 MW power plant at the Boto gold mine. The company also renewed and expanded Operations & Maintenance contracts for power plants in Zambia and Madagascar last year, and signed a new maintenance agreement for two power plants in Morocco. In Nigeria, Wärtsilä secured a 10-year deal in May 2024 to operate and maintain a 50 MW captive power plant, ensuring reliable power for a cement production facility in Kogi State.

    At IAE 2025, discussions will focus on how Wärtsilä is supporting Africa’s energy transformation by providing cost-effective and scalable solutions to reduce the carbon footprint of the continent’s power generation systems. Ek’s participation will emphasize Wärtsilä’s commitment to sustainable energy innovation, addressing energy access challenges and driving economic growth in Africa while ensuring environmental responsibility.

    MIL OSI Africa

  • MIL-OSI Asia-Pac: SITI to visit Spain and Portugal

    Source: Hong Kong Government special administrative region

    SITI to visit Spain and Portugal
    SITI to visit Spain and Portugal
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         The Secretary for Innovation, Technology and Industry, Professor Sun Dong, will lead a delegation of representatives from the innovation and technology (I&T) sector to depart for Spain and Portugal this evening (March 2). The visit aims to strengthen ties and co-operation between Hong Kong and the two countries in the field of I&T, promoting Hong Kong’s I&T advantages, and exploring overseas business opportunities for Hong Kong’s I&T sector.     Members of the delegation include heads from the Hong Kong Science and Technology Parks Corporation (HKSTPC), Cyberport, the Hong Kong Applied Science and Technology Research Institute, and the Hong Kong Microelectronics Research and Development Institute, as well as representatives of 24 local I&T enterprises or institutions. The HKSTPC and the Hong Kong Trade Development Council will co-ordinate the participation of the I&T representatives of the enterprises and institutions in the Hong Kong Tech Pavilion at the Mobile World Congress (MWC) 2025.     Professor Sun will visit Barcelona, Spain, from March 3 to 5. During his stay, he will attend the MWC 2025 and deliver a keynote speech at the Global System for Mobile Communications Association (GSMA) Ministerial Programme. The delegation will visit Lisbon, Portugal, on March 6. The programme of the visit will include meetings and exchanges with leaders of local political, business and I&T sectors, as well as visits to local I&T infrastructure, I&T parks, research institutes and technology enterprises.     Professor Sun will conclude his visit on March 7 (local time) and return to Hong Kong in the afternoon on March 8. During his absence, the Under Secretary for Innovation, Technology and Industry, Ms Lillian Cheong, will be the Acting Secretary for Innovation, Technology and Industry.

     
    Ends/Sunday, March 2, 2025Issued at HKT 11:00

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Raksha Mantri meets Princess Astrid of Belgium & Defence Minister in New Delhi

    Source: Government of India (2)

    Raksha Mantri meets Princess Astrid of Belgium & Defence Minister in New Delhi

    Discusses the possibility of defence engagements in Indo-Pacific

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

    Raksha Mantri Shri Rajnath Singh held a meeting with Princess Astrid of Belgium and the Defence Minister Mr Theo Francken in New Delhi on March 03, 2025. Both sides discussed the possibility of defence engagements in the Indo-Pacific, particularly in maritime domain. They also discussed ways and means to enhance defence industrial cooperation between the two countries. 

    Raksha Mantri welcomed Belgian investments in the defence sector. He suggested that the Belgian companies could play an important role by expanding their footprint in India and integrating the Indian vendors in their supply chains. Further, both countries agreed to explore an institutionalised defence cooperation mechanism.

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    VK/SR/Savvy

    (Release ID: 2107706) Visitor Counter : 61

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Applications open for 2025 Hong Kong Youth Music Camp

    Source: Hong Kong Government special administrative region

    Applications open for 2025 Hong Kong Youth Music Camp
    Applications open for 2025 Hong Kong Youth Music Camp
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         The 2025 Hong Kong Youth Music Camp, organised by the Music Office of the Leisure and Cultural Services Department, will be held between July and August to offer training for young musicians and choir members by highly acclaimed musicians. Participants can also join the in-camp music masterclasses and workshops. The music camps are categorised into residential and non-residential groups. Applications are open today (March 3), and qualified youths aged between 8 and 25 are welcome to join.      Camp A provides in-camp residential training at the Sai Kung Outdoor Recreation Centre for music groups of Chinese Orchestra, Symphony Orchestra and Children’s Choir from July 28 to August 2. Camp fees for local campers and non-local campers are $2,100 and $3,100 respectively. Camp conductors are the Concertmaster and Resident Conductor of Chinese Orchestra of Xi’an Conservatory of Music, Gao Wei; the Music Director of the Northwest Symphony Orchestra, Dr Anthony Spain; and Professor in Choral Conducting and Head of the Conducting Department at Bulgarian National Academy of Music, Professor Theodora Pavlovitch.       Camp B provides non-residential training at designated music centres of the Music Office for groups of Junior Chinese Orchestra, Junior String Orchestra and Junior Symphonic Band from August 4 to 9. The camp fee for both local and non-local campers is $1,100. Assistant Conductor of the Wuxi Chinese Orchestra Guo Pan, internationally acclaimed cello virtuoso and music educator Chu Yi-bing, and former Head of Open Conservatorium at the Queensland Conservatorium of Griffith University Dr Ralph Hultgren will be the camp conductors.      Participants in the music camps will perform at the concert halls of the Hong Kong Cultural Centre on August 3, and Hong Kong City Hall on August 10 respectively to showcase the achievements of their training. Tickets of the concerts will be available at URBTIX (www.urbtix.hk) from May 16.      For information on applicants’ eligibility and application details, please visit the Music Office’s website (www.lcsd.gov.hk/musicoffice). The application deadline is March 28. For enquiries, please call 3842 7773, 2598 0801 or 3842 7775.

     
    Ends/Monday, March 3, 2025Issued at HKT 15:00

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: HKETO, Brussels promotes Hong Kong cinema in Ireland

    Source: Hong Kong Government special administrative region

    HKETO, Brussels promotes Hong Kong cinema in Ireland
    HKETO, Brussels promotes Hong Kong cinema in Ireland
    ****************************************************

         The Hong Kong Economic and Trade Office in Brussels (HKETO, Brussels) is supporting the screening of Hong Kong films at the Dublin International Film Festival (DIFF) in Dublin, Ireland, from February 20 to March 2 (Dublin time).      A networking reception was hosted on March 1 connecting professionals from Hong Kong and the international film industry. Speaking at the event, Deputy Representative of HKETO, Brussels Miss Grace Li highlighted Hong Kong’s dynamic film industry as a testament to the city’s exceptional creativity and cultural identity. She reaffirmed the Government’s commitment to supporting the film sector and enhancing its global presence.      Miss Li also emphasised that, beyond its thriving film industry, Hong Kong is a vibrant arts and cultural hub. She invited friends from all around the world to visit Hong Kong, the centre for international cultural exchange, and to immerse themselves in a diverse range of art exhibitions, auctions, galleries, and performing arts events.      This year, two Hong Kong productions are screened as part of the DIFF programme. The compelling films – “The Way We Talk” directed by Adam Wong and “Obedience” directed by Siu-pong Wong – offer audiences a glimpse into Hong Kong’s rich cinematic landscape.      DIFF is regarded as one of the most important annual events in Irish cinema, bringing together filmmakers, actors, producers and other industrial professionals from Ireland and around the world. This year, DIFF presents over 80 films, including 10 world premieres from Irish filmmakers. The festival is expected to attract over 20 000 film enthusiasts through a mix of industry-focused and public events.

     
    Ends/Monday, March 3, 2025Issued at HKT 10:45

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    MIL OSI Asia Pacific News

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

    Source: Government of India

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    being added.

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

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

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

    emanating from this country, 6.5 billion monthly.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

     Jai Hind.

    ***

    JK/RC/SM

    (Release ID: 2107567) Visitor Counter : 82

    MIL OSI Asia Pacific News

  • MIL-OSI United Kingdom: UK concludes presidency of the International Holocaust Remembrance Alliance

    Source: United Kingdom – Executive Government & Departments

    News story

    UK concludes presidency of the International Holocaust Remembrance Alliance

    After a successful year as Chair of the International Holocaust Remembrance Alliance, the UK hands over the presidency to Israel on 3 March 2025.

    The UK has concluded its presidency of the International Holocaust Remembrance Alliance (IHRA), which ran from March 2024 to February 2025.  The presidency’s theme, “In Plain Sight”, drew attention to the fact that the Holocaust did not happen in a dark corner.  This highlighted the nature of society that allowed the murder of 6 million Jewish men, women and children, and shone a spotlight on all those who had a part to play.

    Our presidency focused on safeguarding remembrance of the Holocaust and securing the narrative for the future. This included tackling Holocaust distortion, and exploring the role of artificial intelligence as a force for both good and bad in Holocaust education and distortion.

    During our presidency, we delivered our ‘My Hometown’ project, supporting young people across the IHRA membership in learning about their local Holocaust history.  Fifty six schools from across 15 countries took part.  A gallery of all the projects can be found on our implementing partner’s website.

    We also published the 80 Objects-80 Lives digital exhibition, delivered in partnership with the Association of Jewish Refugees. In the exhibition, Holocaust survivors shared personal stories connected to their possessions in a series of eighty short videos. 

    We were also pleased to work with the Association of Jewish Refugees to launch their new UK testimony portal. This brings together UK testimony on one platform for the first time.

    The UK hosted 2 plenary meetings, bringing together around 300 IHRA delegates in Glasgow in June and London in December, to discuss efforts to strengthen Holocaust remembrance, education and research. 

    We made progress in a range of areas, including the launch of the Archival Access Forum, to facilitate the sharing of best practice in accessing and preserving Holocaust-related archive materials. 

    We launched guidance on the implementation of the IHRA definition of antisemitism for sporting institutions. We also hosted a successful Roma conference attended by representatives of the Roma community from across Europe, and launched IHRA’s recommendations for Teaching and Learning about the Roma.

    Our presidency also explored the role of emerging technologies in Holocaust education and distortion. We co-hosted an event with the OSCE in Romania. This considered how artificial intelligence could be used as a force for good in Holocaust education and in identifying and tackling instances of antisemitism and Holocaust distortion online. It also explored its more negative uses in facilitating Holocaust distortion. We continued these discussions in the margins of the London plenary, during a follow up conference on the role of artificial intelligence

    Domestically, we published the outcome of a review establishing the facts around the number of prisoners who died on Alderney during the Nazi occupation. This review played an important role in bringing to an end conspiracies and misinformation surrounding this crucial period of history.

    Finally, we marked the 80th anniversary of the liberation of Auschwitz-Birkenau and the 25th anniversary of the Stockholm Declaration on Holocaust Remembrance. In February, we brought together IHRA delegates alongside key figures who have played a role in strengthening international action on Holocaust commemoration over the past 25 years. Together we reflected on our achievements and look ahead to the future of remembrance.

    The Holocaust will sadly soon move from our living memory into the history books, and we will no longer be able to hear survivors tell their stories first-hand. It is therefore essential that we continue to do all we can to safeguard Holocaust sites, encourage greater transparency of Holocaust-related archives, and promote testimony and the stories of Holocaust-related objects.

    Updates to this page

    Published 3 March 2025

    MIL OSI United Kingdom

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

    Source: GlobeNewswire (MIL-OSI)

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

    Introducing New ETPs for Emerging Digital Assets

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

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

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

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

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

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

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

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

    Bringing Innovation to European Investors

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

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

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

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

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

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

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

    For further information, please contact:

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

    The MIL Network

  • MIL-OSI Europe: ASIA/INDONESIA – Contemplation and apostolate in Kalimantan: the Jubilee of the Augustinian Sisters of Divine Mercy

    Source: Agenzia Fides – MIL OSI

    OSA Sisters Indonesia

    Ketapang (Agenzia Fides) – Their monastery is a place of prayer and spirituality, immersed in the green lungs of the rainforest. The Augustinian Sisters in the province of West Kalimantan have always considered prayer as the “breath of the soul”, as oxygen for personal and community life. For 75 years the sisters have been present in the heart of a remote province in Indonesian Borneo and for them this is the concrete expression of what oxygen does for an organism: it generates life. The Augustinian Sisters of Divine Mercy (OSA) began their mission in Borneo in 1949 with the arrival of a small delegation of five sisters from the Netherlands. Since then they have led a life of contemplation and active commitment here: they have combined prayer with the care of health and educational facilities and founded a boarding school for girls from the local population, the indigenous Dayak. Over the years, new vocations have emerged, and today there are many local nuns who continue the mission of the congregation, while the first Dutch sisters, now older, have returned to Europe. Their presence was and is valuable for the entire diocesan community of Ketapang, as Bishop Pius Riana Prapdi emphasized during a Eucharistic celebration to commemorate 75 years of missionary presence and to celebrate “the special anniversary year.” “The Augustinian sisters began their mission in an unknown and remote area, which is still characterized by impassable terrain, where you travel on rivers full of rapids and muddy roads,” said the bishop. But the sisters’ dedication and determination to do good in the name of the Gospel prevailed: they founded health facilities and schools in many rural and mountainous areas and “left a unique mark on the pastoral mission of the diocese of Ketapang.” Among the 21 Dutch nuns whose order has been active in the mission in Kalimantan for 75 years, Sister Dionne Appelman, now 84 years old, returned to Kalimantan to participate in the Jubilee Eucharist. For her, it was “an immersion in a past marked by the providence and grace of God”: “I am very happy that the seeds of religious vocations and apostolic works have sprouted and produced good fruit,” Sister Dionne Appelman told Fides. “We have been active in Indonesia for 75 years, especially in the diocese of Ketapang. It is a long history marked by joys and sorrows, great sacrifices and incessant struggles. But it has always been a history of salvation that continues to this day thanks to our Indonesian sisters.” “The work of God carried out by the Dutch missionary sisters has borne rich fruit,” says Sister Ignatia, Indonesian religious and Superior General of the Congregation of the Augustinian Sisters of Mercy in Indonesia, to Fides. Today the sisters are active in Indonesia in the regions of West Kalimantan (dioceses of Ketapang, Pontianak, Sintang and Sanggau), on the island of Java (in the dioceses of Jakarta, Malang and Surabaya) and in the region of Papua (diocese of Manokwari-Sorong). In total, there are 136 Augustinian sisters in Indonesia: 96 sisters with perpetual vows, 25 with temporary vows, 12 novices and 3 postulants. About 70 of them live in the West Kalimantan region. (PA) (Agenzia Fides, 1/3/2025)
    OSA Sisters Indonesia

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    MIL OSI Europe News

  • MIL-OSI Global: In siding with Russia over Ukraine, Trump is not putting America first. He is hastening its decline

    Source: The Conversation – Global Perspectives – By Matthew Sussex, Associate Professor (Adj), Griffith Asia Institute; and Fellow, Strategic and Defence Studies Centre, Australian National University

    Has any nation squandered its diplomatic capital, plundered its own political system, attacked its partners and supplicated itself before its far weaker enemies as rapidly and brazenly as Donald Trump’s America?

    The fiery Oval Office meeting between Trump and Ukrainian President Volodymyr Zelensky on Friday saw the American leader try to publicly humiliate the democratically elected leader of a nation that had been invaded by a rapacious and imperialistic aggressor.

    And this was all because Zelensky refused to sign an act of capitulation, criticised Putin (who has tried to have Zelensky killed on numerous occasions), and failed to bend the knee to Trump, the country’s self-described king.

    The Oval Office meeting became heated in a way that has rarely been seen between world leaders.

    What’s worse is Trump has now been around so long that his oafish behaviour has become normalised. Together with his attack dog, Vice President JD Vance, Trump has thrown the Overton window – the spectrum of subjects politically acceptable to the public – wide open.

    Previously sensible Republicans are now either cowed or co-opted. Elon Musk’s so-called Department of Government Efficiency (DOGE) is gutting America’s public service and installing toadies in place of professionals, while his social media company, X, is platforming ads from actual neo-Nazis.

    The FBI is run by Kash Patel, who hawked bogus COVID vaccine reversal therapies and wrote children’s books featuring Trump as a monarch. The agency is already busily investigating Trump’s enemies.

    The Department of Health and Human Services is helmed by Robert F. Kennedy Jr., a vaccine denier, just as Americans have begun dying from measles for the first time in a decade. And America’s health and medical research has been channelled into ideologically “approved” topics.

    At the Pentagon, in a breathtaking act of self-sabotage, Defence Secretary Pete Hegseth has ordered US Cyber Command to halt all operations targeting Russia.

    And cuts to USAID funding are destroying US soft power, creating a vacuum that will gleefully be filled by China. Other Western aid donors are likely to follow suit so they can spend more on their militaries in response to US unilateralism.

    What is Trump’s strategy?

    Trump’s wrecking ball is already having seismic global effects, mere weeks after he took office.

    The US vote against a UN General Assembly resolution condemning Russia for starting the war against Ukraine placed it in previously unthinkable company – on the side of Russia, Belarus and North Korea. Even China abstained from the vote.

    In the United Kingdom, a YouGov poll of more than 5,000 respondents found that 48% of Britons thought it was more important to support Ukraine than maintain good relations with the US. Only 20% favoured supporting America over Ukraine.

    And Trump’s bizarre suggestion that China, Russia and the US halve their respective defence budgets is certain to be interpreted as a sign of weakness rather than strength.

    The oft-used explanation for his behaviour is that it echoes the isolationism of one of his ideological idols, former US President Andrew Jackson. Trump’s aim seems to be ring-fencing American businesses with high tariffs, while attempting to split Russia away from its relationship with China.

    These arguments are both economically illiterate and geopolitically witless. Even a cursory understanding of tariffs reveals that they drive inflation because they are paid by importers who then pass the costs on to consumers. Over time, they are little more than sugar pills that turn economies diabetic, increasingly reliant on state protections from unending trade wars.

    And the “reverse Kissinger” strategy – a reference to the US role in exacerbating the Sino-Soviet split during the Cold War – is wishful thinking to the extreme.

    Putin would have to be utterly incompetent to countenance a move away from Beijing. He has invested significant time and effort to improve this relationship, believing China will be the dominant power of the 21st century.

    Putin would be even more foolish to embrace the US as a full-blown partner. That would turn Russia’s depopulated southern border with China, stretching over 4,300 kilometres, into the potential front line of a new Cold War.

    What does this mean for America’s allies?

    While Trump’s moves have undoubtedly strengthened the US’ traditional adversaries, they have also weakened and alarmed its friends.

    Put simply, no American ally – either in Europe or Asia – can now have confidence Washington will honour its security commitments. This was brought starkly home to NATO members at the Munich Security Conference in February, where US representatives informed a stunned audience that America may no longer view itself as the main guarantor of European security.

    Vice President JD Vance delivers a strong message to European leaders.

    The swiftness of US disengagement means European countries must not only muster the will and means to arm themselves quickly, but also take the lead in collectively providing for Ukraine’s security.

    Whether they can do so remains unclear. Europe’s history of inaction does not bode well.

    US allies also face choices in Asia. Japan and South Korea will now be seriously considering all options – potentially even nuclear weapons – to deter an emboldened China.

    There are worries in Australia, as well. Can it pretend nothing has changed and hope the situation will then normalise after the next US presidential election?

    The future of AUKUS, the deal to purchase (and then co-design) US nuclear powered submarines, is particularly uncertain.

    Does it make strategic sense to pursue full integration with the US military when the White House could just treat Taipei, Tokyo, Seoul and Canberra with the same indifference it has displayed towards its friends in Europe?

    Ultimately, the chaos Trump 2.0 has unleashed in such a short amount of time is both unprecedented and bewildering. In seeking to put “America First”, Trump is perversely hastening its decline. He is leaving America isolated and untrusted by its closest friends.

    And, in doing so, the world’s most powerful nation has also made the world a more dangerous, uncertain and ultimately an uglier place to be.

    Matthew Sussex has received funding from the Australian Research Council, the Atlantic Council, the Fulbright Foundation, the Carnegie Foundation, the Lowy Institute and various Australian government departments and agencies.

    ref. In siding with Russia over Ukraine, Trump is not putting America first. He is hastening its decline – https://theconversation.com/in-siding-with-russia-over-ukraine-trump-is-not-putting-america-first-he-is-hastening-its-decline-251140

    MIL OSI – Global Reports

  • MIL-OSI Global: From the fashion to the speeches to the music, this was an Oscars of few surprises. 5 experts break it down

    Source: The Conversation – Global Perspectives – By Harriette Richards, Senior Lecturer, School of Fashion and Textiles, RMIT University

    In a year with few surprises in the awards categories, there was also a dearth of surprises on the red carpet. The sartorial themes included sparkling metallics, coloured menswear and bows, bows and more bows.

    Metallic gowns that resemble the Oscar statue are a familiar sight at the Academy Awards and this year was no different. Some of the standouts included best actress nominee Demi Moore in a magnificently glittering silver Armani Privé gown, Selena Gomez in custom Ralph Lauren encrusted with 16,000 individual blush-toned jewel teardrops, and Emma Stone in a minimalist Louis Vuitton sheath covered in iridescent fish scales.

    In the menswear category, tuxedos reign supreme. This year was notable only for the diversity of colours in which these suits came.

    Best actor nominee Timothée Chalamet lived up to his reputation for monochrome, richly hued ensembles in a custom butter yellow leather suit by Givenchy, paired with a matching silk shirt and delicate neck brooch in place of a tie. His best actor nominated compatriot, Colman Domingo (one of the best dressed men in Hollywood) was pristine in a double-breasted red silk jacket with black lapels, black trousers and matching red shirt by Valentino, similarly eschewing a tie in favour of a fine gold brooch. Andrew Garfield wore louche chocolate brown Gucci and Jeremy Strong wore a suit by Loro Piana in an unusual tone of olive green.

    Bows of varying size and stature were perhaps the strongest theme of the night.

    Best actress winner Mikey Madison in black and pink Dior, best supporting actress nominee Felicity Jones in shimmering liquid silver Armani, Elle Fanning in white and black Givenchy and Lupita Nyong’o in white Chanel were all adorned with bows at their waists.

    The most remarkable bow of the night though was best actress nominee Cynthia Erivo in a structured deep emerald-green velvet Louis Vuitton gown, the broad, wing-like sleeves of which were crafted as a bow.

    Notable mentions must also go to those attendees who do not fit neatly into any thematic category. Best supporting actress nominee Ariana Grande wore a meticulously crafted pale pink Schiaparelli confection and Lisa (of Blackpink and now White Lotus fame) perfected a feminine take on masculine suiting in a tuxedo dress by Markgong.

    The only real surprise was the lack of political statements on display. Unlike recent years, when pins and ribbons in support of Ukraine and Palestine were widely worn, this year only Guy Pearce was spotted wearing a Free Palestine pin, Conclave writer Peter Straughan wore a Ukrainian flag pin and Kayo Shekoni had “free Congo” emblazoned on the sole of her high heels.

    Harriette Richards

    The best picture: Anora

    And the best picture Oscar goes to … Anora – the film that was favoured to win, so no surprises here.

    Though he had been working for more than a decade at the time, writer-director-editor Sean Baker came onto the independent movie scene with a bang with 2015’s Tangerine, a gimmicky film that was mainly celebrated for being shot on an iPhone. Why this would be celebrated is anyone’s guess. I suspect it’s because of the “I could do it too” factor – something the average person certainly couldn’t say if we’re talking 35mm celluloid.

    Since then, Baker’s films have relished in embracing the digital, neon world, but always in a kind of sentimental and shallow, rather than critical, register. None of his films are awful – and maybe that’s saying something in this day and age. Anora also is not awful, but it’s not particularly memorable either.

    Anora follows a run of the mill American dream-type story about a hard-working stripper who seems to strike fairytale gold when a young, fun Russian oligarch falls in love with her. Only the dream turns out to be more of a nightmare (kind of) when things don’t quite work out and the film ends with the titular character once again independent and free.

    The idea of undercutting the fairytale setup of the typical rom-com is not at all original, and the film strikes me as even more schmaltzy in its rejection of the fairytale dream than if it had embraced it and played like a tween-focused Nickelodeon film (it’s about as poignant as this).

    The film’s cardinal sin, however – and it’s certainly not alone in this – is its critical overlength. Each of the film’s sections could have had some 20 minutes cut and we would have had an enjoyably tight romp at 80 minutes. Instead, Anora drags on, swept up in its imagining of its own profundity – at times pretentious, but mainly tedious.

    Ari Mattes

    Not the year to stick a neck out

    The speeches this year were conspicuously meek. No announcer majorly insulted anyone else. No winner assaulted anyone else. Even the James Bond retrospective lacked energy. What’s going on in Hollywood?

    There are clues that help explain this curious flatness. Host Conan O’Brien mentioned the pressure of “divisive politics” while reflecting on California’s wildfires. Several winners spoke about the importance of shared experience, of what unites us, of film as a medium that brings people together, a force for “good and progress in the world” and “a reminder not to let hate go unchecked”.

    The directors of No Other Land, receiving their Oscar for best documentary, shared the one clear critical voice. Palestinian Basel Adra wished his newborn daughter a life without the fear that governs daily life in his homeland. Israeli co-director Yuval Abraham agreed: “There is another way. It’s not too late for life and for the living. There is no other way.”

    However, that was the only moment people at the Oscars seemed willing to confront the political elephant in the room.

    Anora director Sean Baker used his last (of four!) acceptance speeches to compel more people to help keep cinema doors open. He made his point passionately: this was the best way to sustain an industry that could continue to make brilliant movies. That said, the most emotive speeches of past Oscars events went much further than just commenting on the bread and butter concerns of the film industry.

    This year, there were more clues in what people did not say. There were feints at Russian dictators – but nobody mentioned the war in Ukraine. There was no discussion of a certain election result, nor of filmmakers’ fears that Washington is now in the control of a governing faction that loathes them. Most revealing of all: nobody raised a peep about the President or his friends.

    Hollywood’s collective discipline was on show tonight – and 2025 is not the year to stick a neck out.

    Tom Clark

    A banner year for independent film

    Independent films were the big winners for this year’s Oscars. While many of the technical awards went to the big budget films, such as Wicked (the US$145 million film won costume design and production design) and Dune: Part 2 (made at a budget of US$190 million, and winning sound and visual effects), the night’s major awards went to small productions.

    While the definitions of “independence” and “studio” films don’t exist in a neat binary when it comes to production and global distribution, we can distinguish between film juggernauts and smaller films.

    Three independent films won significant awards that are of note. Latvian film Flow was the first independent film to win best animated feature, up against major films Inside Out 2 (Pixar Films) and The Wild Robot (DreamWorks).

    The film follows a cat, a dog, a capybara, a secretary bird and a ring-tailed lemur navigating a post-apocalyptic world with rising sea levels. The film also only used free and open-source software Blender and mostly used sounds from real world counterparts of the various characters. It was made for a budget of just €3.5 million (A$5.9 million).

    The best documentary film nominees were dominated by independent films. Notably, the winner No Other Land has sadly been unable to find a distributor to release the film in the United States. (It is available for streaming in Australia on DocPlay, and in select cinemas.) The film was only eligible because the Film Lincoln Centre in New York facilitated a one-week, qualifying theatrical run.

    The night’s top glories went to Anora, made on a budget of just US$6 million (A$9.7 million) and taking home the awards for best film, director, actress, screenplay and editing.

    In his acceptance speech for best director, Sean Baker spoke of the importance of films getting a theatrical release. Films, he said, are about humanity – and that is best experienced in watching a film with other people.

    During awards season, Baker has often spoken about the importance of small budget films in the expression of core human experiences.

    The final message of the night went to Baker when he thanked the Academy for recognising a truly independent film: “Long live independent film!”

    Indeed, independent films ruled this year’s Oscars.

    Stuart Richards

    Best actor and actress

    Mikey Madison, who won the best actress award for Anora, is quite good in the role. That said, it’s difficult to evaluate her performance in such a meandering film.

    She tries hard playing a stripper who falls for Prince Charming – a Russian oligarch (Hollywood’s anti-Russian sentiment has certainly grown in recent years) who turns out to be a bit of a weakling with meanie parents. But Madison never really convincingly embodies the character, and we’re ever aware as we watch the film that she’s an actress working her way through relevant emotions and intensities.

    That said, Madison is good at yelling and stripping, and this is the main way she shows her chops here. She screamed well in Once Upon a Time… in Hollywood (2019), too. The bar this year was admittedly pretty low, and truth be told Madison’s performance in Anora (aside from Fernanda Torres for I’m Still Here) is probably the best out of the nominees.

    In contrast, Adrien Brody, who won the best actor award, is absolutely unforgettable in the flawed but magnificent The Brutalist – the best he’s been since The Pianist, and the deserved winner by a mile out of a similarly mediocre field. Brody is simply a pleasure to watch, and drives, in a wholly embodied way, this grandiose and exceedingly long film (the fact it doesn’t feel long is largely due to his magnetism).

    The screenplay, in which the character comes across as a combination of arrogant, sweet and at times comedic, allows Brody to display the full range of his talent, and he plays the whole thing with an endearing vulnerability. But, again, it’s unfair to compare Brody and Madison – The Brutalist is a spectacularly accomplished cinematic epic, while Anora feels as stylish and profound as a social media video (I know that’s the point, but that doesn’t make it any more compelling).

    Ari Mattes

    A lacklustre year for music

    This was a strong year for music-based films, with three of the most nominated ones being musicals of various types: the big-budget Broadway adaptation Wicked, the original film musical Emilia Pérez, and the musician biopic A Complete Unknown.

    The music of the ceremony itself was nicely assembled, with a live orchestra (conducted by Michael Bearden) accompanying proceedings from above the stage.

    But the show was marred by an absence: the best song nominations were not performed live. The new songs this year were so bland, however – especially when compared to the Wicked score and Bob Dylan – that I can hardly blame the producers. The nominations included a dull Elton John song, some soft guitar rock from Sing Sing, Diane Warren’s 16th (!) nominated song (more soft rock), and two forgettable songs from Emilia Pérez (one of which, El Mal, was the winner).

    So little faith did the Academy have in the songs that only a few seconds were played from each, mostly covered by a montage of interviews with the songwriters.

    This year’s nominated best scores were not much more memorable, but Daniel Blumberg deserved his win for The Brutalist. It demonstrates a high level of composition and orchestration craft. It uses edgy instrumental textures to increase the feelings of uncertainty and imbalance that the film imparts.

    The show included a lot of Wizard of Oz. Ariana Grande sang Over the Rainbow from the 1939 film and Cynthia Erivo sang Home from The Wiz, the 1974 soul musical based on the book. Then they performed Defying Gravity from Wicked together.

    Another subtle Wizard of Oz nod was the music played during the commercial breaks: a loop based on Brand New Day from The Wiz, whose 1979 film version had its music produced by the late Quincy Jones. Queen Latifah and backup dancers brought some much needed energy to the last hour of the ceremony with Ease on Down the Road, also from The Wiz, as part of a Jones tribute.

    One surprise was an unnecessary but enjoyable James Bond sequence featuring Margaret Qualley dancing to John Barry’s famous theme, a performance of Live and Let Die by K-pop star Lisa, Doja Cat singing Diamonds Are Forever, and Raye’s rendition of Skyfall.

    This plus the various numbers from the Oz Musical Universe only highlighted how lacklustre this year’s nominated music was.

    Gregory Camp

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    ref. From the fashion to the speeches to the music, this was an Oscars of few surprises. 5 experts break it down – https://theconversation.com/from-the-fashion-to-the-speeches-to-the-music-this-was-an-oscars-of-few-surprises-5-experts-break-it-down-251264

    MIL OSI – Global Reports

  • MIL-OSI Russia: NSU student wins silver award at prestigious International Youth Mathematical Competition

    Translartion. Region: Russians Fedetion –

    Source: Novosibirsk State University – Novosibirsk State University –

    The International Youth Math Challenge (IYMC) is a prestigious competition that provides students with the opportunity to test their knowledge of mathematics and become part of a global community of young mathematicians. The competition is coordinated by Edu.Harbour from Heidelberg, Germany and is held annually. Since its inception in 2018, IYMC has attracted more than 30,000 participants from around the world.

    Alam Md Mustaqim Bin, master’s student Physics Department of NSU from Bangladesh, was among the top 8% of the best performers and won the silver award. A total of 5,280 students from all over the world competed for the victory this year. Alam Md Mustaqim Bin also won the national award of second degree.

    The main objective of IYMC is to create an innovative platform for students to learn mathematics in depth and develop problem solving skills. The final round of the competition is highly competitive, with participants required to demonstrate their knowledge and skills in a timed online exam.

    — I am interested in astrophysics and astronomy, I am interested in mathematics, so I participated in IYMC for the second time. I also wanted to test my skills. The competition was held online all over the world and consisted of three stages: selection, pre-final and final. All stages were monitored using proctoring (a special monitoring system for conducting an online exam or testing), — said Alam Md Mustaqim Bin.

    The competition required solving various typical mathematical problems and analyzing scientific papers.

    — In 2020, I represented Bangladesh and won a bronze award. This year, I won silver and the second national award (second result in the country). It is a great honor for me to represent NSU, and I am proud to be a student of this university, — the student shared his impressions.

    Mathematics is not just numbers and formulas, it is a way of thinking. It helps to understand not only the laws of physics, but also many phenomena in life.

    On behalf of the university, we congratulate the winner!

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

    MIL OSI Russia News

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

    Source: GlobeNewswire (MIL-OSI)

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

    Seven in ten businesses want simplified customer experience from telecom providers

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

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

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

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

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

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

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

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

    Methodology

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

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

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

    Attachments

    The MIL Network

  • MIL-OSI Europe: EU+ asylum applications decrease by 11% in 2024, and some changing trends established

    Source: European Asylum Support Office

    The number of asylum applications received in the EU+ decreased by over one tenth (11 %) in 2024, with applications from Syrians, Afghans and Turks all decreasing significantly. While Germany continued to receive the most applications in the EU+, these were down by one third last year. Cyprus continued to receive the most applications per capita. In 2024, almost half of all received applications (48 %) were from citizenships for which the recognition rate is low (≤ 20 %).

    The European Union Agency for Asylum (EUAA) has just published its annual analysis of asylum trends in 2024. Some 1 014 000 asylum applications were received in the EU+, an 11 % decrease year-over-year. Several of the main citizenships of asylum applicants in the EU+ each recorded a significant decrease in 2024. Applications from Syrians (151 000), Afghans (87 000), and Turks (56 000), each decreased by 17 %, 24 % and 45 %, respectively, compared to 2023.

    Latin American citizenships also recorded notable changes in protection requests in 2024. Venezuelans (74 000) lodged a record number of applications, up by around a tenth (9 %) compared to 2023; while applications from Colombians (52 000) decreased by almost a fifth (- 18 %) in 2024. Taken together, not only did these two nationalities account for a majority of all visa-free applicants in the EU+, they also represented over three fifths of applicants in Spain. After a surge of boat arrivals in the Canary Islands, Malians (17 000) and Senegalese (14 000) both lodged more than twice as many applications in the EU+, compared to 2023.

    Changing trends in key receiving EU+ countries

    In 2024, Germany (237 000) again received the most asylum applications in the EU+, though the number was a third lower (- 29 %), year-over-year. While Spain (166 000), Italy (159 000) and France (159 000) received rather similar numbers of asylum applications in 2024, at around 16 % of the EU+ total, each; these Member States were faced with new dynamics. For example, Peruvians (27 000), who continued to lodge significant numbers of applications in the EU+, shifted to applying mostly in Italy in 2024, where they became the 2nd most populous citizenship.

    However, the number of asylum applications received does not convey the full measure of protection needs in the EU+. In December 2024, around 4.4 million persons displaced from the Russian invasion of Ukraine were receiving temporary protection. Ukrainians (27 000) lodged significantly more asylum applications in 2024 in the EU+, up by 90 % compared to 2023; half did so in France and one quarter in Poland. The number of Ukrainian applications received in 2024 was reminiscent of initial figures in 2022, after the full-scale Russian invasion of Ukraine began.

    Evaluating which EU+ countries receive the most applications for asylum is important, but a simple like-for-like comparison is not always appropriate because their asylum and reception capacities can vary. Cyprus (6 800) has long been the recipient of the most applications per capita. By the end of 2024, Greece (74 000) received the 2nd most applications per capita. In 2024, both countries received around 1 application for every 140 residents.

    State of decision-taking on international protection

    In 2024, the EU+ recognition rate remained stable at 42 %, though this aggregate figure masks significant variations across nationalities and a tendency to grant subsidiary protection, rather than refugee status.

    The Syrian recognition rate has been above 90% for most of the last two years. However, while recognition rates for Syrians remained relatively aligned among decision-making countries including Greece (90 %), Germany (92 %), and Austria (95 %), there was significant variation in the type of protection granted.

    On the other hand, the Afghan recognition rate stood at 63 % at EU+ level, and there was significant variation across EU+ countries including Belgium (39 %), Germany (41 %), France (67 %), Austria (76%), Switzerland (90 %), and Greece (98 %). However, EU+ countries tended to grant refugee status more often than subsidiary protection.

    The EUAA notes that in 2024 almost half of all applications received (48 %) were from citizenships for which the recognition rate is low (≤ 20 %). Citizenships in this group included Bangladeshi, Moroccan and Tunisian nationals. The future Asylum Procedure Regulation provides that applications from applicants from countries with a low recognition rate should be subjected to an accelerated examination procedure, and to an asylum border procedure when the relevant conditions are met.

    For more information and a series of interactive data visualisations, please visit the EUAA Latest Asylum Trends

    MIL OSI Europe News

  • MIL-OSI: Nokia partners with Carrix to introduce private wireless solutions in key U.S. container terminals #MWC25

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia partners with Carrix to introduce private wireless solutions in key U.S. container terminals #MWC25

    • Nokia DAC helps Carrix enhance operations at several leading marine terminals in the United States.

    3 March 2025
    Espoo, Finland – Carrix, one of the world’s leading independent marine terminal and rail yard operators, is partnering with Nokia to introduce Nokia DAC, a private wireless solution to help enhance the company’s operations at several leading marine terminals in the United States, including in Jacksonville, Florida; Long Beach, California; Oakland, California; and Seattle, Washington.

    Founded in 1949, Carrix operates more than 250 terminal facilities and rail yards in the United States, Canada, Mexico, Central America, South America, and Asia.

    Nokia DAC underpins Carrix’s operations providing highly reliable wireless connectivity built for the company’s industrial marine terminal environments, while enhancing security, providing greater scalability, and building a foundation for future digital innovations.

    Nokia is the leading global vendor of private wireless solutions to enterprises, with 850 customers in asset-intensive industries such as mining, manufacturing, and ports.

    Hugh Gallagher, Director of IT Services at Carrix, said: “Nokia DAC has greatly improved our network security, performance, and reliability while also simplifying the maintenance and support needed to sustain technical operations effectively. Simply put, the reliability provided by Nokia DAC has enhanced our efficiency and advanced our technology initiatives.”

    Harsha Bhat, Head of Enterprise Campus Edge Global Accounts at Nokia, said: “The marine terminals industry faces complex challenges to improving connectivity and security in asset-intensive industries. Nokia Edge Compute and AI platform for industrial sites provides private wireless connectivity as a digital foundation to quickly introduce new use cases and applications, driving innovation and collaboration in the port while ensuring data sovereignty and security.”

    Multimedia, technical information and related news
    Web Page: Port terminal operations | Nokia DAC
    Product Page: DAC private wireless | Nokia DAC

    About Nokia
    At Nokia, we create technology that helps the world act together. 

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    About Carrix
    Carrix and its subsidiary SSA Marine are among the world’s leading independent, privately held marine terminal operators, with activities at more than 250 terminal facilities and rail yards in the U.S., Canada, Mexico, Central America, South America, and Asia. Its subsidiary, Tideworks Technology, offers innovative technology solutions for the transportation industry. Founded in 1949, Carrix has continuously expanded its global footprint while always prioritizing customer interests, and now employs more than 20,000 people worldwide.

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Follow Nokia on social media
    LinkedIn X Instagram Facebook YouTube

    The MIL Network

  • MIL-OSI: Boost Mobile becomes first mobile operator in world to deploy Nokia cloud-native 5G Voice Core on Public Cloud to accelerate new 5G services #MWC25

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Boost Mobile becomes first mobile operator in world to deploy Nokia cloud-native 5G Voice Core on Public Cloud to accelerate new 5G services #MWC25

    • Boost Mobile utilizes Nokia’s fully cloud-native 5G Voice Core to enable faster deployment of new 5G services, enhanced network automation, and more efficient cloud utilization.

    3 March 2025
    Espoo, Finland – Boost Mobile, the newest U.S. nationwide carrier, has deployed Nokia’s fully cloud-native 5G Voice Core to enable even faster delivery of advanced services, enhanced network automation, and more efficient cloud utilization than its Open RAN cloud-native network could before.

    The deployment includes the consolidation of several IMS voice 3GPP functionalities into a single cloud-native network function (CNF), called Nokia Cloud Native Communication Suite (CNCS). This migration, from Boost Mobile’s previous distributed IMS voice core by Nokia, provides automated deployment and configuration, reduced infrastructure and carbon footprint, and lower operational costs through streamlined life cycle management.

    “We anticipate Nokia’s 5G Voice Core to help reduce our network infrastructure costs by about 70 percent in addition to delivering new 5G services faster, with significantly streamlined network operations,” said Dawood Shahdad, Vice President of Core Engineering at Boost Mobile. “Boost Mobile continues to push boundaries with our Open RAN 5G network and the successful nationwide deployment of Nokia’s cloud-native next-generation voice core marks a pivotal moment in our network evolution, as this new network element advances our vision of end-to-end orchestration and dynamic scaling on our path toward 6G.”

    CNCS improves energy efficiency by about 10 percent to 20 percent, relative to a standard IMS Voice Core, according to Nokia data.

    “As the sole 5G Voice Core provider for Boost Mobile in the US, Nokia is extremely pleased to support Boost in this modernization project and the close partnering that enabled it. This is another demonstration of Nokia’s technology leadership in helping our customers solve problems, address their customer needs, and generate new revenue streams,” said Marcelo Madruga, Head of Technology and Platforms, Products & Engineering, Cloud and Network Services at Nokia.

    Nokia had the most 5G Standalone Core operator customers, with 123 in total, at the end of 2024.

    About Nokia 
    At Nokia, we create technology that helps the world act together. 

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation. 

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future. 

    About Boost Mobile
    Boost Mobile offers the best value in wireless with simple, flexible and transparent plans starting at $25/mo. for unlimited 5G. Boost Mobile’s nationwide cloud-native O-RAN 5G network delivers lightning-fast speeds, reliability, and coverage on the latest 5G devices. Customers enjoy no annual service contracts and the freedom to upgrade their devices anytime without a trade-in. Experience Boost Mobile’s risk-free 30-day money-back guarantee and learn more about our services on Facebook, Instagram and YouTube. Boost Mobile is the nation’s newest nationwide mobile carrier in the U.S. and a brand under EchoStar Corporation (NASDAQ: SATS).

    Media inquiries 
    Nokia Press Office 
    Email: Press.Services@nokia.com  

    Follow us on social media 
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    The MIL Network

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

    About Brookfield Wealth Solutions

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

    About Blumont Annuity UK

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

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

    Notice to Readers

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

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

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

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

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

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

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

    The MIL Network

  • MIL-OSI: Manora Drilling Update

    Source: GlobeNewswire (MIL-OSI)

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

    Dr. Sean Guest, President and CEO commented:

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

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

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

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

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

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

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

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

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

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

    About the Company

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

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

    Advisory and Caution Regarding Forward-Looking Information

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

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

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

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

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

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

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

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

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

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

    The MIL Network

  • MIL-OSI NGOs: Global Ocean Treaty two years on: Australia’s chance for international cooperation

    Source: Greenpeace Statement –

    SYDNEY, Tuesday 04 March 2025 — Two years after the United Nations agreed to bring the historic Global Ocean Treaty into force, Greenpeace is urging the Australian government to make good on its pledge for ocean protection and finally ink the treaty into law.

    The UN treaty to protect the high seas was agreed two years ago today in 2023. It is a legally binding pact to conserve international waters, a crucial component in global efforts to protect 30% of the world’s oceans and lands by 2030. While 110 countries have signed the treaty, only 18 countries have ratified the treaty into law so far. 

    Greenpeace Australia Pacific Senior Campaigner Georgia Whitaker said:

    “The government has been sitting on the Global Ocean Treaty for two years while other countries rapidly move to ratify and bring the treaty into force. We are an ocean-loving nation, and the Australian government could act as a proud leader on the world stage by making good on its promise to protect the high seas now. Our oceans don’t have the luxury of time – we need to ratify now, then deliver protected ocean sanctuaries in our big blue backyard: the Tasman Sea.”

    Once the treaty is in force, governments can propose ocean sanctuaries for the high seas. A 2023 scientific report by Greenpeace identified the South Tasman Sea and Lord Howe Rise – the high seas between Australia and New Zealand – as being of critical importance for protection.

    Until the treaty enters into force, the management of our global oceans is very fragmented. There is no legal global instrument that allows for the creation of sanctuaries in international waters. To this day, less than 1% of the high seas – the largest habitat on Earth, comprising 64% of the world’s ocean – is fully or highly protected from human activities.

    The countdown is on, as the pivotal UN Ocean Conference (UNOC) will take place in Nice, France, in less than 100 days.

    “UNOC is a unique chance for Governments to show global leadership for ocean protection. Australia must use this opportunity and ratify the treaty before arriving in Nice,” added Whitaker.

    —ENDS—

    For more information or to arrange an interview, please contact Kimberley Bernard on +61 407 581 404 or [email protected]

    Notes to Editor

    High res images and footage of Australia’s oceans can be found here

    MIL OSI NGO

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

    Source: GlobeNewswire (MIL-OSI)

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

    SUSTAINED GROWTH DYNAMIC ANTICIPATED FOR 2025-2026

    FY 2024 HIGHLIGHTS

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

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

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

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

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

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

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

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

    Key financial indicators

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

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

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

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

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

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

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

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

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

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

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

    Significant improvement in adjusted gross margin in FY 2024

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

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

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

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

    Continued strong operational execution driving further profitability increase in FY 2024

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

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

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

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

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

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

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

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

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

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

    Completion of the first phase of capacity expansion

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

    Strengthened capital structure, fully supporting our growth strategy

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

    Dividend

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

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

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

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

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

    Webcast

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

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

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

    Financial Calendar

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

    About Exosens

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

    Investor Relations

    Laurent Sfaxi, l.sfaxi@exosens.com

    Media Relations

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

    APPENDICES

    Reconciliation of adjusted EBITDA and adjusted EBIT

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

    Reconciliation of free cash flow and cash conversion

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

    Consolidated statement of income

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

    Consolidated statement of cash flows

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

    Consolidated balance sheet – Assets

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

    Consolidated balance sheet – Equity and liabilities

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

    Definitions

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

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

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

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

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

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

    Forward-looking statements

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


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

    Attachment

    The MIL Network

  • MIL-OSI: Exosens makes first US investment in night vision production capacity to address growing demand and benefit from new opportunities

    Source: GlobeNewswire (MIL-OSI)

    EXOSENS MAKES FIRST US INVESTMENT IN NIGHT VISION PRODUCTION CAPACITY TO ADDRESS GROWING DEMAND AND BENEFIT FROM NEW OPPORTUNITIES

    PRESS RELEASE
    MÉRIGNAC, FRANCE – MARCH, 3rd 2025

    • In response to increasing demand, Exosens will invest €20M over the next two years to expand production capacity in both Europe and the U.S.
    • This investment will establish Exosens’ first U.S. manufacturing site for producing “Made in America” image intensifier tubes
    • It strengthens Exosens’ position to capture a larger share of the world’s largest market, which represents 45% of the global market and is set for strong growth in both commercial and defense sectors

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

    With decades of expertise, Photonis, brand of Exosens, offers image intensifier tubes, the engine of night vision devices, which improve soldiers’ tactical situational awareness, agility and mobility, as well as their targeting and driving capabilities, in the darkest of nights.

    In order to meet increasing night vision demand, Exosens invests €20m to expand its production capacity not only in Europe but also in the US with, for the first time, a new production plant in the US underscoring additional market opportunities with locally produced “Made in America” image intensifier tubes.

    This new installation will take place in Sturbridge (Massachusetts) where the group has already its Photonics Scientific Inc subsidiary. Exosens will take advantage of the support and synergies available within the group to optimize the time setup for the manufacturing of the image intensifier tubes, which is expected to begin in early 2027.

    “We are pleased to announce a new investment in our capacity on the US ground, which represents a major step in our strategy. Expansion into the US market presents a significant opportunity to strengthen our position as a global leader in image intensifier tubes. This new capacity will also enable us to meet customers’ demand for large-volume, high-performance products manufactured in the US”, said Exosens CEO, Jérôme Cerisier

    Exosens publishes its full-year 2024 results on 3 March 2025, before market opening.

    About Exosens

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

    Media Relations

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

    Forward-looking statements

    Certain information included in this press release are not historical facts but are forward-looking statements. These forward-looking statements are based on current beliefs, expectations and assumptions, including, without limitation, assumptions regarding present and future business strategies and the environment in which Exosens operates, and involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to be materially different from the forward-looking statements included in this press release. These risks include those described in chapter 3 of Exosens’ registration document approved by the French Autorité des marchés financiers under number I.24-0010 on 22 May 2024.

    Attachment

    The MIL Network

  • MIL-Evening Report: From the fashion to the speeches to the music, this was an Oscars of few surprises. 5 experts break it down

    Source: The Conversation (Au and NZ) – By Harriette Richards, Senior Lecturer, School of Fashion and Textiles, RMIT University

    In a year with few surprises in the awards categories, there was also a dearth of surprises on the red carpet. The sartorial themes included sparkling metallics, coloured menswear and bows, bows and more bows.

    Metallic gowns that resemble the Oscar statue are a familiar sight at the Academy Awards and this year was no different. Some of the standouts included best actress nominee Demi Moore in a magnificently glittering silver Armani Privé gown, Selena Gomez in custom Ralph Lauren encrusted with 16,000 individual blush-toned jewel teardrops, and Emma Stone in a minimalist Louis Vuitton sheath covered in iridescent fish scales.

    In the menswear category, tuxedos reign supreme. This year was notable only for the diversity of colours in which these suits came.

    Best actor nominee Timothée Chalamet lived up to his reputation for monochrome, richly hued ensembles in a custom butter yellow leather suit by Givenchy, paired with a matching silk shirt and delicate neck brooch in place of a tie. His best actor nominated compatriot, Colman Domingo (one of the best dressed men in Hollywood) was pristine in a double-breasted red silk jacket with black lapels, black trousers and matching red shirt by Valentino, similarly eschewing a tie in favour of a fine gold brooch. Andrew Garfield wore louche chocolate brown Gucci and Jeremy Strong wore a suit by Loro Piana in an unusual tone of olive green.

    Bows of varying size and stature were perhaps the strongest theme of the night.

    Best actress winner Mikey Madison in black and pink Dior, best supporting actress nominee Felicity Jones in shimmering liquid silver Armani, Elle Fanning in white and black Givenchy and Lupita Nyong’o in white Chanel were all adorned with bows at their waists.

    The most remarkable bow of the night though was best actress nominee Cynthia Erivo in a structured deep emerald-green velvet Louis Vuitton gown, the broad, wing-like sleeves of which were crafted as a bow.

    Notable mentions must also go to those attendees who do not fit neatly into any thematic category. Best supporting actress nominee Ariana Grande wore a meticulously crafted pale pink Schiaparelli confection and Lisa (of Blackpink and now White Lotus fame) perfected a feminine take on masculine suiting in a tuxedo dress by Markgong.

    The only real surprise was the lack of political statements on display. Unlike recent years, when pins and ribbons in support of Ukraine and Palestine were widely worn, this year only Guy Pearce was spotted wearing a Free Palestine pin, Conclave writer Peter Straughan wore a Ukrainian flag pin and Kayo Shekoni had “free Congo” emblazoned on the sole of her high heels.

    Harriette Richards

    The best picture: Anora

    And the best picture Oscar goes to … Anora – the film that was favoured to win, so no surprises here.

    Though he had been working for more than a decade at the time, writer-director-editor Sean Baker came onto the independent movie scene with a bang with 2015’s Tangerine, a gimmicky film that was mainly celebrated for being shot on an iPhone. Why this would be celebrated is anyone’s guess. I suspect it’s because of the “I could do it too” factor – something the average person certainly couldn’t say if we’re talking 35mm celluloid.

    Since then, Baker’s films have relished in embracing the digital, neon world, but always in a kind of sentimental and shallow, rather than critical, register. None of his films are awful – and maybe that’s saying something in this day and age. Anora also is not awful, but it’s not particularly memorable either.

    Anora follows a run of the mill American dream-type story about a hard-working stripper who seems to strike fairytale gold when a young, fun Russian oligarch falls in love with her. Only the dream turns out to be more of a nightmare (kind of) when things don’t quite work out and the film ends with the titular character once again independent and free.

    The idea of undercutting the fairytale setup of the typical rom-com is not at all original, and the film strikes me as even more schmaltzy in its rejection of the fairytale dream than if it had embraced it and played like a tween-focused Nickelodeon film (it’s about as poignant as this).

    The film’s cardinal sin, however – and it’s certainly not alone in this – is its critical overlength. Each of the film’s sections could have had some 20 minutes cut and we would have had an enjoyably tight romp at 80 minutes. Instead, Anora drags on, swept up in its imagining of its own profundity – at times pretentious, but mainly tedious.

    Ari Mattes

    Not the year to stick a neck out

    The speeches this year were conspicuously meek. No announcer majorly insulted anyone else. No winner assaulted anyone else. Even the James Bond retrospective lacked energy. What’s going on in Hollywood?

    There are clues that help explain this curious flatness. Host Conan O’Brien mentioned the pressure of “divisive politics” while reflecting on California’s wildfires. Several winners spoke about the importance of shared experience, of what unites us, of film as a medium that brings people together, a force for “good and progress in the world” and “a reminder not to let hate go unchecked”.

    The directors of No Other Land, receiving their Oscar for best documentary, shared the one clear critical voice. Palestinian Basel Adra wished his newborn daughter a life without the fear that governs daily life in his homeland. Israeli co-director Yuval Abraham agreed: “There is another way. It’s not too late for life and for the living. There is no other way.”

    However, that was the only moment people at the Oscars seemed willing to confront the political elephant in the room.

    Anora director Sean Baker used his last (of four!) acceptance speeches to compel more people to help keep cinema doors open. He made his point passionately: this was the best way to sustain an industry that could continue to make brilliant movies. That said, the most emotive speeches of past Oscars events went much further than just commenting on the bread and butter concerns of the film industry.

    This year, there were more clues in what people did not say. There were feints at Russian dictators – but nobody mentioned the war in Ukraine. There was no discussion of a certain election result, nor of filmmakers’ fears that Washington is now in the control of a governing faction that loathes them. Most revealing of all: nobody raised a peep about the President or his friends.

    Hollywood’s collective discipline was on show tonight – and 2025 is not the year to stick a neck out.

    Tom Clark

    A banner year for independent film

    Independent films were the big winners for this year’s Oscars. While many of the technical awards went to the big budget films, such as Wicked (the US$145 million film won costume design and production design) and Dune: Part 2 (made at a budget of US$190 million, and winning sound and visual effects), the night’s major awards went to small productions.

    While the definitions of “independence” and “studio” films don’t exist in a neat binary when it comes to production and global distribution, we can distinguish between film juggernauts and smaller films.

    Three independent films won significant awards that are of note. Latvian film Flow was the first independent film to win best animated feature, up against major films Inside Out 2 (Pixar Films) and The Wild Robot (DreamWorks).

    The film follows a cat, a dog, a capybara, a secretary bird and a ring-tailed lemur navigating a post-apocalyptic world with rising sea levels. The film also only used free and open-source software Blender and mostly used sounds from real world counterparts of the various characters. It was made for a budget of just €3.5 million (A$5.9 million).

    The best documentary film nominees were dominated by independent films. Notably, the winner No Other Land has sadly been unable to find a distributor to release the film in the United States. (It is available for streaming in Australia on DocPlay, and in select cinemas.) The film was only eligible because the Film Lincoln Centre in New York facilitated a one-week, qualifying theatrical run.

    The night’s top glories went to Anora, made on a budget of just US$6 million (A$9.7 million), and taking home the awards for best film, director, actress, screenplay and editing.

    In his acceptance speech for best director, Sean Baker spoke of the importance of films getting a theatrical release. Films, he said, are about humanity – and that is best experienced in watching a film with other people.

    During awards season, Baker has often spoken about the importance of small budget films in the expression of core human experiences.

    The final message of the night went to Baker when he thanked the Academy for recognising a truly independent film: “Long live independent film!”

    Indeed, independent films ruled this year’s Oscars.

    Stuart Richards

    Best actor and actress

    Mikey Madison, who won the best actress award for Anora, is quite good in the role. That said, it’s difficult to evaluate her performance in such a meandering film.

    She tries hard playing a stripper who falls for Prince Charming – a Russian oligarch (Hollywood’s anti-Russian sentiment has certainly grown in recent years) who turns out to be a bit of a weakling with meanie parents. But Madison never really convincingly embodies the character, and we’re ever aware as we watch the film that she’s an actress working her way through relevant emotions and intensities.

    That said, Madison is good at yelling and stripping, and this is the main way she shows her chops here. She screamed well in Once Upon a Time… in Hollywood (2019), too. The bar this year was admittedly pretty low, and truth be told Madison’s performance in Anora (aside from Fernanda Torres for I’m Still Here) is probably the best out of the nominees.

    In contrast, Adrien Brody, who won the best actor award, is absolutely unforgettable in the flawed but magnificent The Brutalist – the best he’s been since The Pianist, and the deserved winner by a mile out of a similarly mediocre field. Brody is simply a pleasure to watch, and drives, in a wholly embodied way, this grandiose and exceedingly long film (the fact it doesn’t feel long is largely due to his magnetism).

    The screenplay, in which the character comes across as a combination of arrogant, sweet and at times comedic, allows Brody to display the full range of his talent, and he plays the whole thing with an endearing vulnerability. But, again, it’s unfair to compare Brody and Madison – The Brutalist is a spectacularly accomplished cinematic epic, while Anora feels as stylish and profound as a social media video (I know that’s the point, but that doesn’t make it any more compelling).

    Ari Mattes

    A lacklustre year for music

    This was a strong year for music-based films, with three of the most nominated ones being musicals of various types: the big-budget Broadway adaptation Wicked, the original film musical Emilia Pérez, and the musician biopic A Complete Unknown.

    The music of the ceremony itself was nicely assembled, with a live orchestra (conducted by Michael Bearden) accompanying proceedings from above the stage.

    But the show was marred by an absence: the best song nominations were not performed live. The new songs this year were so bland, however – especially when compared to the Wicked score and Bob Dylan – that I can hardly blame the producers. The nominations included a dull Elton John song, some soft guitar rock from Sing Sing, Diane Warren’s 16th (!) nominated song (more soft rock), and two forgettable songs from Emilia Pérez (one of which, El Mal, was the winner).

    So little faith did the Academy have in the songs that only a few seconds were played from each, mostly covered by a montage of interviews with the songwriters.

    This year’s nominated best scores were not much more memorable, but Daniel Blumberg deserved his win for The Brutalist. It demonstrates a high level of composition and orchestration craft. It uses edgy instrumental textures to increase the feelings of uncertainty and imbalance that the film imparts.

    The show included a lot of Wizard of Oz. Ariana Grande sang Over the Rainbow from the 1939 film and Cynthia Erivo sang Home from The Wiz, the 1974 soul musical based on the book. Then they performed Defying Gravity from Wicked together.

    Another subtle Wizard of Oz nod was the music played during the commercial breaks: a loop based on Brand New Day from The Wiz, whose 1979 film version had its music produced by the late Quincy Jones. Queen Latifah and backup dancers brought some much needed energy to the last hour of the ceremony with Ease on Down the Road, also from The Wiz, as part of a Jones tribute.

    One surprise was an unnecessary but enjoyable James Bond sequence featuring Margaret Qualley dancing to John Barry’s famous theme, a performance of Live and Let Die by K-pop star Lisa, Doja Cat singing Diamonds Are Forever, and Raye’s rendition of Skyfall.

    This plus the various numbers from the Oz Musical Universe only highlighted how lacklustre this year’s nominated music was.

    Gregory Camp

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    ref. From the fashion to the speeches to the music, this was an Oscars of few surprises. 5 experts break it down – https://theconversation.com/from-the-fashion-to-the-speeches-to-the-music-this-was-an-oscars-of-few-surprises-5-experts-break-it-down-251264

    MIL OSI AnalysisEveningReport.nz

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

    Source: Government of India

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

    Namaskar, 

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

    Friends, 

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

    Friends, 

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

    Friends, 

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

    Friends, 

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

    Friends, 

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

    Friends, 

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

    Friends, 

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

    Friends, 

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

    Friends, 

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

    Friends, 

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

    Friends, 

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

    Friends,

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

    Friends,

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

    Friends,

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

    Friends,

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

    Friends,

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

    Friends,

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

     

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

    MIL OSI Asia Pacific News

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

    Source: Government of India

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

    Good Morning all of you,

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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    (Release ID: 2107228) Visitor Counter : 55

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Shri Jyotiraditya Scindia to Represent India’s Rise on the Global Stage at Mobile World Congress 2025

    Source: Government of India (2)

    Shri Jyotiraditya Scindia to Represent India’s Rise on the Global Stage at Mobile World Congress 2025

    Curtain Raiser of India Mobile Congress 2025 and Bharat Pavilion to be inaugurated

    Participation in MWC 2025 cements India’s role as Global Leader in Digital & Mobile Ecosystem

    India is rapidly evolving into a global technology hub and engagement at events like the MWC 2025 vital for accelerating innovation and strengthening digital infrastructure: Shri JM Scindia

    Shri JM Scindia to Address Key Sessions on Global Tech Governance and Balancing Innovation at MWC 2025

    Posted On: 01 MAR 2025 9:07AM by PIB Delhi

    Shri Jyotiraditya Scindia, Hon’ble Union Minister for Communications, will represent India at the prestigious Mobile World Congress (MWC) 2025, one of the world’s largest and most influential technology and telecommunications events, scheduled from March 3-6, 2025 in Barcelona, Spain.

    He will also unveil the curtain raiser of India Mobile Congress 2025 and inaugurate the ‘Bharat Pavilion’ at the Mobile World Congress (MWC).

    The India Mobile Congress is platform that highlight India’s innovation ecosystem, and leading telecom companies and innovators showcase their cutting-edge advancements and sustainable solutions. The Bharat Pavilion will feature 38 Indian telecom equipment manufacturers showcasing their state-of-the-art products, both hardware and software.

    Minister’s participation underscores India’s growing role as a global leader in the digital and mobile ecosystem. His presence will highlight India’s commitment to digital transformation, innovation, and fostering international collaborations in communications and technology.

    During his visit, the Minister of Communications will engage with global industry leaders, policymakers, and innovators to explore cutting-edge developments in 5G, AI(artificial intelligence),6G, Quantum and next-generation mobile technologies. The event will serve as a platform for discussing key trends shaping the mobile industry and will spotlight India’s digital ambitions.

    Speaking about his visit, Shri Scindia said, “India is rapidly evolving into a global technology hub, and our engagement with international partners at events like the Mobile World Congress is vital for accelerating innovation and strengthening digital infrastructure. I look forward to exchanging ideas with global experts and discussing opportunities for collaboration in the mobile and telecommunications sector.”

    The Minister is also expected to address several key sessions, including ‘Global Tech Governance: Rising to the Challenge’ and ‘Balancing Innovation and Regulation: Global Perspectives on Telecom Policy.’

    The participation in Mobile World Congress 2025 in Barcelona is expected to bring together top executives, visionaries, and innovators from across the globe, offering a a platform for strategic collaborations, knowledge exchange, and showcasing India’s technological leadership

     

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    Samrat/Dheeraj/Allen

    (Release ID: 2107175) Visitor Counter : 72

    MIL OSI Asia Pacific News

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

    Source: GlobeNewswire (MIL-OSI)

    ING acquires stake in Van Lanschot Kempen

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

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

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

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

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    The MIL Network

  • MIL-OSI China: Legacy carved in stone

    Source: China State Council Information Office 3

    The recent Chongqing premiere of For an Eternal Homeland — Dazu Rock Carvers’ Legacy has been hailed by the audiences and critics as a spectacle that brings the ancient figures of the Dazu Rock Carvings, a UNESCO World Heritage Site, to life.

    Through a blend of artistry and narrative, this dance drama has been recognized by many as a successful reimagining and revitalization that allows the historical treasure to shine anew.

    Zhang Yaqi, artistic director of the dance drama, says that the collaboration between the municipality of Chongqing and the China Oriental Performing Arts Group, a national performing arts institution, was developed over a two-year period and pays tribute to Dazu’s stone carvers.

    The performance is themed on celebrating the ancient philosophical vision of an ideal society: renjian xiaoman; tianxia dazu, (literally “small satisfaction in human life; grand prosperity and abundance in the world”).

    The Dazu Rock Carvings include the 144 grottoes, 50,000 statues and 100,000 inscriptions found in Chongqing’s Dazu district.

    Begun during the early Tang Dynasty (618-907) and reaching its peak during the Song Dynasty (960-1279), these extensive carvings amalgamate Confucian, Buddhist and Taoist sculptures.

    The UNESCO designation was awarded in 1999. Along with the Mogao Caves in Gansu province, the Longmen Grottoes in Henan province, and the Yungang Grottoes in Shanxi province — all similarly designated — the Dazu Rock Carvings are considered an essential part of the history of cave art in China.

    The 10-chapter, 100-minute dance drama is the tale of a young refugee named Xiao Fu. Fleeing to Dazu during the Southern Song Dynasty (1127-1279), he seeks sanctuary among local rock carvers, embracing their simple joys and aspirations for a brighter tomorrow. However, when a rockslide occurs, he pledges to immortalize the names of his departed family members by carving them on the cliffs, ensuring their memory lasts forever.

    “The stage presentation was challenging, with a deep sense of reverence. We drew inspiration from the details of the carvings, capturing their lifelike appearances,” Zhang says.

    She adds that every aspect, from characters and costumes to design, movements and props, was created to reflect the poetic essence of these portrayals of everyday rural life.

    For instance, figures such as the flute-playing woman, the chicken-raising woman, the cattle herder, and the woman wine seller, as well as Graceful Guanyin (Avalokitesvara, or the Goddess of Mercy), Water-moon Guanyin, and the Buddhist monk Zhigong (418-514) are brought to life in the drama.

    The 40 performers, 18 women and 22 men, radiate an ancient charm that encapsulates the aesthetics of the Song Dynasty, according to Zhang, who adds that the production included some core members of the team behind another hit, Poetic Dance: The Journey of a Legendary Landscape Painting.

    A large mirror onstage was used as a backdrop, according to Gao Guangjian, the drama’s visual director and set designer.

    A variety of multimedia techniques was used to create a distinct realm, enabling the exploration of the dynamic interplay between reality and faith.

    “The Dazu Rock Carvings are a priceless treasure, and belong to humanity,” says Li Fangyin, former director of Dazu Rock Carvings Research Institute.

    “Their deep content, such as philosophical ideas, humanistic principles, values and morals, helped us to further tap their worth through creative efforts,” Li adds.

    Since the 18th National Congress of the Communist Party of China in 2012, the country has increasingly focused on the conservation and use of cultural heritage and grotto temples.

    According to Li, more than 30 protection projects have been carried out at the Dazu Rock Carvings over the past two decades, resulting in marked progress on the protection, research, and use of the site.

    The Qianshou Guanyin (Thousand-hand Avalokitesvara) statue, carved during the Southern Song Dynasty, is a treasure of Baoding Mountain, one of the sites part of Dazu. In June 2015, after an 8-year national project to conserve its stone relics, aided by technology, salvage efforts were completed. That year, the Art Museum of Dazu Rock Carvings was opened.

    After 16 years of surveys and research by experts at the research institute, Dazu Shike Quanji (A Collection of Dazu Rock Carvings) was published by Chongqing Publishing Group in 2019, the first Chinese archaeological report about large grotto temple sites.

    In recent years, several international academic symposiums have been held in Chongqing and Ziyang, Sichuan province, to integrate cultural tourism and preservation.

    Last August, the first International Forum on Cave Temple Conservation kicked off in Dazu. Experts from countries, including Norway, the United Kingdom, Japan, Pakistan, Iran, Afghanistan and Nepal, convened to share insights and address common challenges in the global conservation of grotto temples.

    Chongqing’s Dazu and Ziyang city in Sichuan are known for their stone carvings — 150,000 in all — among which the Anyue Grottoes in Ziyang’s Anyue county have been included in the provisional list of UNESCO’s World Cultural Heritage Sites.

    The Sichuan-Chongqing Grotto Protection and Research Center has been established and has organized 20 international forums and academic exchange studies in Dazu. It is also responsible for publishing the academic journal Cave Temple Research and Conservation.

    “The fusion of traditional art and modern technology has led to many changes,” Li says, citing the example of Black Myth: Wukong.

    The game’s production team explored the Dazu Rock Carvings three years ago, and set many scenes in the hit game there.

    After its three-day premiere from Feb. 21 to 23 in Chongqing, the drama will travel to 10 more cities, including Chengdu, Hangzhou in Zhejiang province, Nanchang in Jiangxi province, Shenzhen in Guangdong province, Fuzhou and Xiamen in Fujian province, as well as Changsha in Hunan province. A total of 100 performances are planned for the year.

    MIL OSI China News