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Category: Finance

  • MIL-OSI: Guggenheim Investments Announces April 2025 Closed-End Fund Distributions

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 01, 2025 (GLOBE NEWSWIRE) — Guggenheim Investments today announced that certain closed-end funds have declared their distributions. The table below summarizes the distribution schedule for each closed-end fund (collectively, the “Funds” and each, a “Fund”).

    The following dates apply to the distributions:
    Record Date  April 15, 2025
    Ex-Dividend Date April 15, 2025
    Payable Date  April 30, 2025
    Distribution Schedule
    NYSE Ticker Closed-End Fund Name Distribution
    Per Share    		 Change from Previous
    Distribution    		 Frequency
    AVK Advent Convertible and Income
    Fund    		 $0.1172†   Monthly
    GBAB Guggenheim Taxable
    Municipal Bond & Investment Grade Debt
    Trust    		 $0.12573†   Monthly
    GOF Guggenheim Strategic
    Opportunities Fund    		 $0.1821†   Monthly
    GUG Guggenheim Active Allocation
    Fund    		 $0.11875†   Monthly

    † A portion of this distribution is estimated to be a return of capital rather than income. Final determination of the character of distributions will be made at year-end. The Section 19(a) notice referenced below provides more information and can be found at www.guggenheiminvestments.com.

    You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Distribution Policy.

    Past performance is not indicative of future performance. As of this announcement, the sources of each fund distribution are estimates. Distributions may be paid from sources of income other than ordinary income, such as short-term capital gains, long-term capital gains or return of capital. Unless otherwise noted, the distributions above are not anticipated to include a return of capital. If a distribution consists of something other than ordinary income, a Section 19(a) notice detailing the anticipated source(s) of the distribution will be made available. The Section 19(a) notice will be posted to a Fund’s website and to the Depository Trust & Clearing Corporation so that brokers can distribute such notices to Shareholders of the Fund. Section 19(a) notices are provided for informational purposes only and not for tax reporting purposes. The final determination of the source and tax characteristics of all distributions will be made after the end of the year. This information is not legal or tax advice. Consult a professional regarding your specific legal or tax matters.

    About Guggenheim Investments

    Guggenheim Investments is the global asset management and investment advisory division of Guggenheim Partners, LLC (“Guggenheim”), with more than $243 billion* in assets under management across fixed income, equity, and alternative strategies. We focus on the return and risk needs of insurance companies, corporate and public pension funds, sovereign wealth funds, endowments and foundations, consultants, wealth managers, and high-net-worth investors. Our 235+ investment professionals perform rigorous research to understand market trends and identify undervalued opportunities in areas that are often complex and underfollowed. This approach to investment management has enabled us to deliver innovative strategies providing diversification opportunities and attractive long-term results.

    Guggenheim Investments includes Guggenheim Funds Investment Advisors, LLC (“GFIA”), Guggenheim Partners Investment Management, LLC (“GPIM”) and Guggenheim Funds Distributors, LLC (“GFD”). GFIA serves as Investment Adviser for GBAB, GOF and GUG. GPIM serves as Investment Sub-Adviser for GBAB, GOF and GUG. GFD serves as servicing agent for AVK. The Investment Adviser for AVK is Advent Capital Management, LLC and is not affiliated with Guggenheim.

    *Assets under management are as of 12.31.2024 and include leverage of $14.8bn. Guggenheim Investments represents the following affiliated investment management businesses of Guggenheim Partners, LLC: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Wealth Solutions, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Japan Limited, GS GAMMA Advisors, LLC, and Guggenheim Private Investments, LLC.

    This information does not represent an offer to sell securities of the Funds and it is not soliciting an offer to buy securities of the Funds. There can be no assurance that the Funds will achieve their investment objectives. Investments in the Funds involve operating expenses and fees. The net asset value of the Funds will fluctuate with the value of the underlying securities. It is important to note that closed-end funds trade on their market value, not net asset value, and closed-end funds often trade at a discount to their net asset value. Past performance is not indicative of future performance. An investment in closed-end funds is subject to investment risk, including the possible loss of the entire amount that you invest. Some general risks and considerations associated with investing in a closed-end fund may include: Investment and Market Risk; Lower Grade Securities Risk; Equity Securities Risk; Foreign Securities Risk; Interest Rate Risk; Illiquidity Risk; Derivative Risk; Management Risk; Anti-Takeover Provisions; Market Disruption Risk and Leverage Risk. See www.guggenheiminvestments.com/cef for a detailed discussion of Fund-specific risks.

    Investors should consider the investment objectives and policies, risk considerations, charges and expenses of any investment before they invest. For this and more information, visit www.guggenheiminvestments.com or contact a securities representative or Guggenheim Funds Distributors, LLC 227 West Monroe Street, Chicago, IL 60606, 800-345-7999.

    Analyst Inquiries

    William T. Korver
    cefs@guggenheiminvestments.com

    Not FDIC-Insured | Not Bank-Guaranteed | May Lose Value
    Member FINRA/SIPC (04/25) 64378

    The MIL Network –

  • MIL-OSI USA: Former Military Contractor Pleads Guilty for Deleting Text Messages in Antitrust Division Investigation

    Source: US State of North Dakota

    Today, a Federal Judge accepted a guilty plea to destruction of records in a federal investigation from a former employee of a contractor that provided operation and maintenance services to the U.S. Army Corps of Engineers for U.S. military installations in South Korea.

    According to the information filed in the Western District of Texas, in or about July 2021, David Cruz, 37, deleted text messages with Hyuk Jin Kwon and Hyun Ki Shin. Kwon and Shin were separately charged ‌for fraud and conspiring to rig bids and fix prices on millions of dollars in maintenance and repair subcontracting work provided to the U.S. Army Corps of Engineers in South Korea and remain fugitives. At Kwon’s suggestion, Cruz deleted text messages after receiving a litigation hold notice from his employer requiring him not to destroy or delete communications. Cruz then covered up the deletion of those text messages after being specifically advised by his employer that there was an ongoing federal investigation.

    In the deleted text messages, Cruz discussed with Kwon and Shin the need to get additional bids from their competitor to satisfy the U.S. Army Corps of Engineer’s competitive bidding requirements for subcontract work. Kwon had previously told Cruz that Cruz should contact him instead of requesting bids directly from Kwon’s competitors.

    “The Procurement Collusion Strike Force’s commitment to safeguard taxpayer dollars from collusion and fraud is unwavering,” said Director Daniel Glad of the Justice Department’s Procurement Collusion Strike Force (PCSF). “The Antitrust Division will not hesitate to prosecute individuals who unlawfully impede our investigations by destroying or covering up evidence.”

    “Bid rigging and other acts of fraud against the U.S. Army not only undermine the integrity of critical procurement efforts but also put our Soldiers at risk by providing them capabilities and services which do not meet the high standards necessary to maintain peak lethality,” said Special Agent in Charge Michael DeFamio of the Department of the Army Criminal Investigation Division (Army CID), Far East Field Office. “Army CID is grateful for the collaborative efforts of our federal partners at the FBI and the Department of Justice, and we will continue to identify, investigate, and hold accountable those who attempts to defraud the U.S. Government, regardless of where they are in the world.”

    “The Department of Defense Office of Inspector General’s Defense Criminal Investigative Service (DCIS) is steadfast in its mission to protect taxpayer funds from fraud and collusion,” said Special Agent in Charge Stanley Newell of DCIS’ Transnational Field Office. “We are equally committed to relentlessly pursuing those who attempt to obstruct our investigations through the destruction or concealment of evidence.”

    “Mr. Cruz knowingly destroyed records that were part of an ongoing criminal investigation and has now acknowledged his crime” said Assistant Director in Charge Akil Davis of the FBI Los Angeles Field Office. “The FBI is committed to holding accountable military contractors who flout the bidding process and intentionally destroy evidence of their guilt.”

    Destruction of records in a federal investigation carries a maximum penalty of 20 years in prison and a $250,000 fine. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other relevant factors.

    The Antitrust Division’s Washington Criminal Section, Army CID, DCIS, and the FBI investigated the case.

    Assistant Chief Daniel E. Lipton and Trial Attorney Daniel P. Chung of the Antitrust Division prosecuted the case with assistance from Assistant U.S. Attorney Matthew B. Devlin for the Western District of Texas.

    In November 2019, the Justice Department created the PCSF, a joint law enforcement effort to combat antitrust crimes and related fraudulent schemes that impact government procurement, grant and program funding at all levels of government — federal, state and local. To learn more about the PCSF, or to report information on bid rigging, price fixing, market allocation and other anticompetitive conduct related to government spending, go to www.justice.gov/procurement-collusion-strike-force. Anyone with information in connection with this investigation can contact the PCSF at the link listed above.

    MIL OSI USA News –

  • MIL-OSI Security: Mexican National Pleads Guilty to Possessing Methamphetamine and Firearms

    Source: Office of United States Attorneys

    KANSAS CITY, Mo. – A Mexican National, residing in Kansas City, Mo., pleaded guilty in federal court today to illegally possessing more than a kilogram of methamphetamine and firearms.

    Roberto Rosales Gonzales, 24, pleaded guilty before U.S. District Judge Greg Kays, to one count of possession with the intent to distribute 500 grams or more of methamphetamine, and one count of possession of firearms in furtherance of a drug trafficking crime.

    On Thursday, March 21, 2024, law enforcement officers executed a search warrant at Gonzales’s residence. During the search of the residence, officers found 59 firearms of various calibers, including two suspected machine guns, assorted ammunition, a firearm silencer, and an inert hand grenade. Officers also found approximately 114.1 grams of suspected fentanyl pills, approximately 1.3 kilograms of methamphetamine, approximately 31.4 grams of suspected heroin, and more than $22,000 in cash.

    Under federal statutes, Gonzales is subject to a mandatory minimum sentence of 15 years in federal prison without parole, up to a sentence of life in federal prison without parole. The maximum statutory sentence is prescribed by Congress and is provided here for informational purposes, as the sentencing of the defendant will be determined by the court based on the advisory sentencing guidelines and other statutory factors. A sentencing hearing will be scheduled after the completion of a presentence investigation by the United States Probation Office.

    This case is being prosecuted by Assistant U.S. Attorney Brad K. Kavanaugh. It was investigated by Homeland Security Investigations, the Jackson County Drug Task Force, the Federal Bureau of Investigation, the Kansas City, Missouri Police Department, and the Bureau of Alcohol, Tobacco, Firearms and Explosives.

    Project Safe Neighborhoods

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

    MIL Security OSI –

  • MIL-OSI Security: Investigators roll up mafia-style organisation in Italy and Germany

    Source: Eurojust

    An extensive five-year investigation into an ‘Ndrangheta mafia-style organisation active in Germany and Italy has led to the arrest of 29 suspects during a joint operation by Italian and German authorities, supported by Eurojust. The mafia-style group was responsible for a number of crimes in the Stuttgart area, and Calabria and Emilia-Romagna, including fraudulent trade in food products, attempted manslaughter, drug trafficking, tax evasion and money laundering.

    The joint operation was coordinated from the Eurojust premises in The Hague. Authorities worked together to carry out around 40 searches in Germany and Italy. Ten of the suspects were arrested in Germany and 19 in Italy. Among those arrested in Germany is a police officer, who is suspected of supporting the criminal organisation.

    During the joint actions in both countries, carried out today, over 350 law enforcement officers were deployed. German officers were involved in the operations on the ground in Italy and vice versa.

    To carry out the investigation, a joint investigation team (JIT) was set up via Eurojust, which assisted the rapid and efficient collaboration between the authorities involved. The authorities worked together to investigate a number of crimes linked to the ‘Ndrangheta-related organisation, agreeing on a coordinated prosecution strategy.

    The organised crime group (OCG) is suspected to have carried out several crimes throughout Italy and Germany, but mostly around the Stuttgart area. The crimes they are being investigated for include the formation and support of a foreign criminal organisation, arson, disclosure of confidential information, drug trafficking, money laundering and attempted manslaughter.

    Specific investigations especially brought to light an elaborate fraud with high-value food products, such as expensive cheeses and olive oil, as well as kitchen equipment for pizza production. These products were ordered via a fake company, which didn’t pay any invoices, and the goods were later sold on via another enterprise to Italian restaurants in and around Stuttgart, who were put under pressure by the OCG to buy the products from them.

    The following authorities carried out the operations:

    • Italy: Public Prosecutor’s Office of Catanzaro – District Anti-Mafia Directorate: Investigative Section of the Central Operational Service (SISCO) of Catanzaro and Mobile Squad of Police Headquarters of Catanzaro, with the coordination of the Central Operational Service of the Central Anti-Crime Directorate of the State Police, supported in the executive phase by Mobile Squads of Cosenza, Modena, Parma, Ferrara and Grosseto and SISCO of Bologna and Florence, from the Crime Prevention Departments ‘Northern – Southern and Central Calabria’, including anti-drug dog units
    • Germany: Public Prosecutor’s Office Stuttgart; Aalen Police Headquarters; Waiblingen Criminal Investigation Department

    MIL Security OSI –

  • MIL-OSI Security: Former Military Contractor Pleads Guilty for Deleting Text Messages in Antitrust Division Investigation

    Source: United States Attorneys General 11

    Today, a Federal Judge accepted a guilty plea to destruction of records in a federal investigation from a former employee of a contractor that provided operation and maintenance services to the U.S. Army Corps of Engineers for U.S. military installations in South Korea.

    According to the information filed in the Western District of Texas, in or about July 2021, David Cruz, 37, deleted text messages with Hyuk Jin Kwon and Hyun Ki Shin. Kwon and Shin were separately charged ‌for fraud and conspiring to rig bids and fix prices on millions of dollars in maintenance and repair subcontracting work provided to the U.S. Army Corps of Engineers in South Korea and remain fugitives. At Kwon’s suggestion, Cruz deleted text messages after receiving a litigation hold notice from his employer requiring him not to destroy or delete communications. Cruz then covered up the deletion of those text messages after being specifically advised by his employer that there was an ongoing federal investigation.

    In the deleted text messages, Cruz discussed with Kwon and Shin the need to get additional bids from their competitor to satisfy the U.S. Army Corps of Engineer’s competitive bidding requirements for subcontract work. Kwon had previously told Cruz that Cruz should contact him instead of requesting bids directly from Kwon’s competitors.

    “The Procurement Collusion Strike Force’s commitment to safeguard taxpayer dollars from collusion and fraud is unwavering,” said Director Daniel Glad of the Justice Department’s Procurement Collusion Strike Force (PCSF). “The Antitrust Division will not hesitate to prosecute individuals who unlawfully impede our investigations by destroying or covering up evidence.”

    “Bid rigging and other acts of fraud against the U.S. Army not only undermine the integrity of critical procurement efforts but also put our Soldiers at risk by providing them capabilities and services which do not meet the high standards necessary to maintain peak lethality,” said Special Agent in Charge Michael DeFamio of the Department of the Army Criminal Investigation Division (Army CID), Far East Field Office. “Army CID is grateful for the collaborative efforts of our federal partners at the FBI and the Department of Justice, and we will continue to identify, investigate, and hold accountable those who attempts to defraud the U.S. Government, regardless of where they are in the world.”

    “The Department of Defense Office of Inspector General’s Defense Criminal Investigative Service (DCIS) is steadfast in its mission to protect taxpayer funds from fraud and collusion,” said Special Agent in Charge Stanley Newell of DCIS’ Transnational Field Office. “We are equally committed to relentlessly pursuing those who attempt to obstruct our investigations through the destruction or concealment of evidence.”

    “Mr. Cruz knowingly destroyed records that were part of an ongoing criminal investigation and has now acknowledged his crime” said Assistant Director in Charge Akil Davis of the FBI Los Angeles Field Office. “The FBI is committed to holding accountable military contractors who flout the bidding process and intentionally destroy evidence of their guilt.”

    Destruction of records in a federal investigation carries a maximum penalty of 20 years in prison and a $250,000 fine. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other relevant factors.

    The Antitrust Division’s Washington Criminal Section, Army CID, DCIS, and the FBI investigated the case.

    Assistant Chief Daniel E. Lipton and Trial Attorney Daniel P. Chung of the Antitrust Division prosecuted the case with assistance from Assistant U.S. Attorney Matthew B. Devlin for the Western District of Texas.

    In November 2019, the Justice Department created the PCSF, a joint law enforcement effort to combat antitrust crimes and related fraudulent schemes that impact government procurement, grant and program funding at all levels of government — federal, state and local. To learn more about the PCSF, or to report information on bid rigging, price fixing, market allocation and other anticompetitive conduct related to government spending, go to www.justice.gov/procurement-collusion-strike-force. Anyone with information in connection with this investigation can contact the PCSF at the link listed above.

    MIL Security OSI –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

    The following dates apply to the declaration:  

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

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

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

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

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

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

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

    About XA Investments

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

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

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

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

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

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

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

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

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

    NOT FDIC INSURED     NO BANK GUARANTEE MAY LOSE VALUE
         

    Media Contact:

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

    The MIL Network –

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

    Source: Government of India

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Second Pillar: Inclusive Growth

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

    Third Pillar: Strong Focus on Manufacturing and Innovation

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

    Fourth Pillar: Simplification of legal and compliance structures

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

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

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

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

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

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

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

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

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

     

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

     

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    About the event

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

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

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

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

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

    ****

     

    Dharmendra Tewari/ Navin Sreejith

    (Release ID: 2117361) Visitor Counter : 126

    MIL OSI Asia Pacific News –

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

    Source: Government of India

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

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

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

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

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

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

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

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

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

    *****

    NB/AD

    (Release ID: 2117408) Visitor Counter : 68

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: CBIC to introduce electronic processing of import/ export through personal carriage by air passengers from 1st May 2025 at specified airports

    Source: Government of India

    CBIC to introduce electronic processing of import/ export through personal carriage by air passengers from 1st May 2025 at specified airports

    Nine airports at Delhi, Mumbai, Kolkata, Chennai, Kochi, Coimbatore, Bangalore, Hyderabad and Jaipur to allow personal carriage export of gems and jewellery

    Seven airports at Delhi, Mumbai, Kolkata, Chennai, Bangalore, Hyderabad and Jaipur to allow personal carriage import of gems and jewellery

    Four airports at Bengaluru, Chennai, Delhi and Mumbai to allow personal carriage samples/prototypes of machinery

    Posted On: 01 APR 2025 6:06PM by PIB Delhi

    The Central Board of Indirect Taxes and Customs, Department of Revenue, Ministry of Finance, has introduced electronic processing of Bill of Entry/ Shipping Bill pertaining to gems and jewellery/samples/prototypes through personal carriage by air passengers from 01.05.2025 onwards at specified airports.

    The export/import through personal carriage shall be subject to the provisions of Foreign Trade Policy (FTP) 2023 and Handbook of Procedures (HBP), 2023.

    The facility of personal carriage will be available, for export of gems and jewellery in the nine airports (Delhi, Mumbai, Kolkata, Chennai, Kochi, Coimbatore, Bangalore, Hyderabad and Jaipur) specified in para 4.87 of HBP and for import of gems and jewellery in the seven airports (Delhi, Mumbai, Kolkata, Chennai, Bangalore, Hyderabad and Jaipur) specified in para 4.88 of HBP. In case of samples/prototypes of machinery, the facility is initially being made available in Bengaluru, Chennai, Delhi and Mumbai airports.

    The harmonised procedure and electronic processing will promote ease of doing business for such mode of transaction especially for gems and jewellery and high-end manufacturing.

    ****

    NB/KMN

    (Release ID: 2117386) Visitor Counter : 303

    MIL OSI Asia Pacific News –

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

    Source: Government of India

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

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

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

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

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

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

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

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

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

    Detailed order of the Commission will follow.

    *****

     NB/AD

    (Release ID: 2117414) Visitor Counter : 54

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: EXPANSION OF EV CHARGING STATIONS

    Source: Government of India

    Posted On: 01 APR 2025 4:20PM by PIB Delhi

    Under the FAME-II scheme, an allocation of Rs.839 crore was made for setting up of Electric Vehicle Public Charging Stations (EVPCS).  An allocation of Rs.2,000 crore has been made under the PM E-DRIVE scheme for setting up EVPCS all across the country including urban and rural areas.

    Ministry of Power has issued “Guidelines for Installation and Operation of Electric Vehicle Charging Infrastructure-2024”, on 17.09.2024. These guidelines emphasize the role of public-private partnerships in expanding the EV charging infrastructure. Setting up EV charging station has been designated as de-licensed activity, simplifying the process for businesses.

    The Government is promoting Research and Development (R&D) related to EVs in the following manner: –

    1. The expenditure incurred on Engineering R&D and product design & development is allowed to be considered as part of Eligible Investment under PLI ACC scheme.
    2. Under the Capital Goods scheme of MHI, up to 80% of the cost of R&D projects including those related to EVs is supported. These projects are housed in leading academic institutes like IITs, IISc. etc. The balance 20% is borne by the industry partners.

    This information was given by the Minister of State for Steel and Heavy Industries, Shri Bhupathiraju Srinivasa Varma in a written reply in the Lok Sabha today.

    *****

    TPJ/NJ

    (Release ID: 2117288) Visitor Counter : 141

    Read this release in: Urdu

    MIL OSI Asia Pacific News –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

    About Oaktree Specialty Lending Corporation

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

    Contact

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

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

    About Jamf

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

    About Identity Automation

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

    Forward-Looking Statements

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

    Media Contact:

    Liarna La Porta | media@jamf.com

    Investor Contact:

    Jennifer Gaumond | ir@jamf.com

    The MIL Network –

  • MIL-OSI: Financial Institutions, Inc. Schedules First Quarter 2025 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    WARSAW, N.Y., April 01, 2025 (GLOBE NEWSWIRE) — Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), the parent company of Five Star Bank and Courier Capital, LLC, will release results for the first quarter ending March 31, 2025 after the market closes on April 28, 2025.

    Management will host an earnings conference call and audio webcast on April 29, 2025 at 8:30 a.m. Eastern Time. The call will be hosted by Martin K. Birmingham, President and Chief Executive Officer, and W. Jack Plants II, Chief Financial Officer and Treasurer. Within the United States, participants may access the call by dialing 1-833-470-1428 and providing the access code 737945. A live webcast will also be available in listen-only mode on the Company’s website, www.FISI-Investors.com, and a replay of the webcast will be available there for at least 30 days.

    About Financial Institutions, Inc.
    Financial Institutions, Inc. (NASDAQ: FISI) is a financial holding company with approximately $6.1 billion in assets as of December 31, 2024, offering banking and wealth management products and services. Its Five Star Bank subsidiary provides consumer and commercial banking and lending services to individuals, municipalities and businesses through banking locations spanning Western and Central New York and a commercial loan production office serving the Mid-Atlantic region. Courier Capital, LLC offers customized investment management, financial planning and consulting services to individuals and families, businesses, institutions, non-profits and retirement plans. Learn more at Five-StarBank.com and FISI-Investors.com.

    For additional information contact:
    Kate Croft
    Director of Investor and External Relations
    (716) 817-5159
    klcroft@five-starbank.com

    The MIL Network –

  • MIL-OSI: GAMCO Expects to Report Diluted EPS for the First Quarter 2025 of $0.75 to $0.81 Per Share

    Source: GlobeNewswire (MIL-OSI)

    GREENWICH, Conn., April 01, 2025 (GLOBE NEWSWIRE) — GAMCO Investors, Inc. (“Gabelli”) (OTCQX: GAMI) announced today that assets under management (“AUM”) were $31.1 billion at March 31, 2025 as compared to $31.7 billion at March 31, 2024.

    Gabelli expects to report first quarter 2025 diluted earnings in the range of $0.75 to $0.81 per share versus $0.64 per share for the first quarter of 2024.

    Gabelli will be issuing further details on its financial results in early May.

    About GAMCO Investors, Inc.

    Gabelli (OTCQX: GAMI), established in 1977 and incorporated under the laws of Delaware, is a widely-recognized provider of investment advisory services to 24 open-end funds, 13 United States closed-end funds and one United Kingdom limited investment company, 5 actively managed exchange traded funds, one société d’investissement à capital variable, and approximately 1,400 institutional and private wealth management investors principally in the U.S. The Company’s revenues are based primarily on the levels of assets under management and fees associated with the various investment products.

    In 1977, Gabelli launched its well-known All Cap Value equity strategy, Gabelli Value, in a separate account format and in 1986 entered the mutual fund business. Today, Gabelli offers a diverse set of client solutions across asset classes (e.g. Equities, Debt Instruments, Convertibles, non-market correlated Merger Arbitrage), regions, market capitalizations, sectors (e.g. Gold, Utilities) and investment styles (e.g. Value, Growth). Gabelli serves a broad client base, including institutions, intermediaries, offshore investors, private wealth, and direct retail investors.

    CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

    The financial results set forth in this press release are preliminary. Our disclosure and analysis in this press release, which do not present historical information, contain “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995.  Forward-looking statements convey our current expectations or forecasts of future events. You can identify these statements because they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning. They also appear in any discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance of our products, expenses, the outcome of any legal proceedings, and financial results. Although we believe that we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know about our business and operations, the economy, and other conditions, there can be no assurance that our actual results will not differ materially from what we expect or believe. Therefore, you should proceed with caution in relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance.

    Forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors, some of which are listed below, that are difficult to predict and could cause actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements. Some of the factors that may cause our actual results to differ from our expectations include risks associated with a decline in the securities markets that adversely affect our assets under management, negative performance of our products, the failure to perform as required under our investment management agreements, and a general downturn in the economy that negatively impacts our operations. We also direct your attention to the more specific discussions of these and other risks, uncertainties and other important factors contained in our Annual Report and other public filings. Other factors that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake to update publicly any forward-looking statements if we subsequently learn that we are unlikely to achieve our expectations whether as a result of new information, future developments or otherwise, except as may be required by law.

    Contact:     Kieran Caterina
    SVP, Chief Accounting Officer
    (914) 921-5149

    For further information please visit
    www.gabelli.com
         

    The MIL Network –

  • MIL-OSI: American Coastal Insurance Corporation Announces the Sale of its Personal Lines Subsidiary, Interboro Insurance Company

    Source: GlobeNewswire (MIL-OSI)

    ST. PETERSBURG, Fla., April 01, 2025 (GLOBE NEWSWIRE) — American Coastal Insurance Corporation (Nasdaq Ticker: ACIC) (“the Company”, “American Coastal” or “ACIC”), the insurance holding company of American Coastal Insurance Company (“AmCoastal”), announced today that it has completed the previously announced sale of Interboro Insurance Company (“Interboro” or “IIC”) to Forza Insurance Holdings, LLC (“Forza”).

    The Company received approximately $26.4 million in cash from Forza based on the generally accepted accounting principles (“GAAP”) estimated equity of IIC as of the closing date. The Company and Forza will reconcile the purchase price within approximately 30 days, based on the finalized GAAP equity of IIC as of April 1, 2025.

    “The sale of Interboro formally completes our strategic transformation into a specialty insurer focused on underwriting commercial residential property insurance. All of our capital and human resources are now fully focused on our core business, and we expect our market leadership will continue to drive exceptional value for our shareholders.” said Brad Martz, President & Chief Executive Officer.

    Raymond James & Associates acted as exclusive financial advisor to American Coastal and Debevoise & Plimpton LLP served as legal counsel to American Coastal in connection with this transaction.

    About American Coastal Insurance Corporation:
    American Coastal Insurance Corporation (amcoastal.com) is the holding company of the insurance carrier, American Coastal Insurance Company, which was founded in 2007 for the purpose of insuring Condominium and Homeowner Association properties, and apartments in the state of Florida. American Coastal Insurance Company has an exclusive partnership for distribution of Condominium Association properties in the state of Florida with AmRisc Group (amriscgroup.com), one of the largest Managing General Agents in the country specializing in hurricane-exposed properties. American Coastal Insurance Company has earned a Financial Stability Rating of “A”, Exceptional’ from Demotech, and maintains an “A-” insurance financial strength rating with a Stable outlook by Kroll. ACIC maintains a ‘BB+’ issuer rating with a Stable outlook by Kroll.

    Contact Information:
    Alexander Baty
    Vice President, Finance & Investor Relations, American Coastal Insurance Corporation
    investorrelations@amcoastal.com
    (727) 425-8076

    Karin Daly
    Investor Relations, Vice President, The Equity Group
    kdaly@equityny.com
    (212) 836-9623

    The MIL Network –

  • MIL-OSI: Pieridae to Hold Conference Call and Webcast for Its Annual and Special Meeting of Shareholders and to Discuss First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES

    CALGARY, Alberta, April 01, 2025 (GLOBE NEWSWIRE) — Pieridae Energy Limited (“Pieridae” or the “Company”) (TSX: PEA) will release its financial and operating results for the first quarter 2025, on Wednesday, May 7, 2025, after markets close.

    President & Chief Executive Officer Darcy Reding and Chief Financial Officer Adam Gray will discuss first quarter financial results and recent company developments on an investor conference call and webcast following the formal portion of the Company’s annual and special meeting of shareholders on Thursday, May 8, 2025, at 1:30 p.m. MDT / 3:30 p.m. EDT.

    To register to participate via webcast please follow this link:    

    https://edge.media-server.com/mmc/p/xk53vcfn

    Alternatively, to register to participate by telephone please follow this link:

    https://register-conf.media-server.com/register/BIf4a11631ac334142b7d1671fbf810fbb

    A replay of the webcast will be available two hours after the conclusion of the event and may be accessed using the webcast link above.

    ABOUT PIERIDAE

    Pieridae is a Canadian energy company headquartered in Calgary, Alberta. The Company is a significant upstream producer and midstream custom processor of natural gas, natural gas liquids, condensate, and sulphur from the Canadian Foothills and adjacent areas in Alberta and in northeast British Columbia. Pieridae’s vision is to provide responsible, affordable natural gas and derived products to meet society’s energy security needs. Pieridae’s Common Shares trade on the TSX under the symbol “PEA”.

    For further information, visit www.pieridaeenergy.com, or please contact:

    Darcy Reding, President and Chief Executive Officer Adam Gray, Chief Financial Officer
    Telephone: (403) 261-5900 Telephone: (403) 261-5900
       
    Investor Relations  
    investors@pieridaeenergy.com  

                  
                                           

    The MIL Network –

  • MIL-OSI Economics: Christine Lagarde: The transformative power of AI

    Source: European Central Bank

    Welcome address by Christine Lagarde, President of the ECB, at the ECB conference on “The transformative power of AI: economic implications and challenges” in Frankfurt, Germany.

    Frankfurt, 1 April 2025

    It is a pleasure to welcome you to our conference on the transformative power of AI.

    In the early stages of a new technological breakthrough, it is often hard to discern fact from fiction. We struggle to imagine the ways in which the new technology will be used. And even if we predict the direction of technological change correctly, we rarely get the timeline or the size of the impacts right.

    Today, we sometimes hear claims that AI is improving so fast that we are only a few years away from the nature of work being radically reformed. But we also hear arguments that the same barriers that slowed down the adoption of all past technologies will also delay AI adoption.

    I cannot claim to know which vision will prove to be correct. But the early evidence is promising and, in my view, we must act on the basis that we are facing an economic revolution. This attitude will be particularly important here in Europe.

    On this side of the Atlantic, we are still paying the price for having been too slow to capitalise on the last major digital revolution, the internet. The tech sector explains around two-thirds of the productivity gap between the EU and the United States since the turn of the century.

    And now we are faced with a technology that can improve its own performance through self-learning mechanisms and feedback loops, enabling even more rapid advances and innovations. The risks of underestimating the potential of AI, and falling behind again, are simply too great to be ignored.

    What’s more, we are facing a new geopolitical environment in which we can no longer be sure that we will have frictionless access to new technologies developed overseas. This new reality strengthens the case for Europe to establish itself at the technological frontier.

    There are two main areas where we should expect, and prepare for, major changes in the economy.

    The first is productivity.

    We can already see the productivity effects of AI in sectors like the US tech sector, where output is expanding while employment is falling.[1] But we are still in the early phase of the “productivity J-curve”, where new technologies diffuse to the wider economy and are reflected in GDP.

    As such, estimates about the productivity gains of AI vary widely – but even at the lower end they would be a game changer for Europe.

    One widely accepted methodology estimates that the euro area could see a boost to total factor productivity (TFP) of around 0.3 percentage points per year over the next ten years.[2] Compare that with the past decade, when annual TFP growth averaged just 0.5%.

    Other estimates point to much larger gains, with productivity expected to grow 1.5 percentage points faster annually if AI is widely adopted over the next decade.[3]

    Whether Europe can achieve such productivity gains will depend on whether we can improve the environment for AI innovation and diffusion.

    This comes down to funding, regulation and energy.

    As I have been arguing for some time, Europe’s relatively small venture capital ecosystem is a major hindrance to building foundational models in the EU.[4] Between 2018 and 2023, around €33 billion was invested in AI companies in the EU, compared with more than €120 billion in their US peers.[5]

    Building and developing this technology also requires considerable investment in data centres, and the EU currently has around 4 times fewer dedicated sites than the US.[6]

    At the same time, ECB research finds that regulation and a lack of institutional quality are particularly detrimental to the expansion of high-tech sectors relative to more mature technologies. Investing in radical technologies is highly risky and needs a different set of framework conditions.[7]

    The adoption of AI, for example, depends on access to data pools to train models, which requires smart regulation to avoid data fragmentation while ensuring data protection. It also requires good institutions as, for instance, effective legal systems are needed to defend a non-patentable asset like a set of AI prompts.

    Our research shows that if the EU’s average institutional delivery were raised to the level of best practice, AI-intensive sectors would see their share in investment rise by more than 10 percentage points.[8]

    Finally, unless we see major breakthroughs in efficiency, Europe’s energy supply constraints could pose a challenge to the diffusion of AI through the economy in the future.

    The power consumption of data centres is expected to triple in Europe by the end of the decade.[9] AI training and inference is extremely energy-intensive.[10] And this surge in demand comes at a time when the green transition is also increasing the demand for electricity, for example for charging battery electric vehicles.

    There is now a clear policy agenda in Europe to address these barriers. It is widely recognised that we need to build a savings and investment union to jump-start European venture capital, that we must simplify complex digital regulations and improve permitting speeds, and that we have to massively increase investment in data centres, fibre-optic networks and electricity grids.

    But for Europe to make the most of the AI revolution, how the productivity gains from AI are harnessed also matters. Labour productivity can be increased either by reducing labour inputs relative to outputs, or by raising outputs relative to inputs. The employment implications of each route are vastly different.

    This brings me to the second area of major change: the effect of AI on labour markets.

    According to ECB research, between 23% and 29% of workers in Europe are highly exposed to AI.[11] This does not necessarily herald a “job apocalypse”. It is reasonable to expect that AI will follow historical patterns by displacing some jobs while creating new one.[12]

    But there are two new questions that this technology poses.

    First, will the pace of technological change be faster than in previous transitions? This question is critical for Europe, as our social model and traditionally high levels of job protection make it hard to see how a transition that leads to massive job reallocations could avoid a major backlash.

    The key factor will be whether AI leans more towards job displacement via its “automation potential”, or towards changes in the nature of work via its “augmentation potential”. In the augmentation scenario, workers will still need to adapt to changing roles and tasks, but the transition will likely be easier.

    Recent research by the ILO finds that only a small share of jobs – around 5% in advanced economies – meet the criteria for high automation. But a much larger share – over 13% – meet the criteria for high augmentation.[13]

    The second question is about the distribution of gains.

    Early studies suggested that AI could increase the productivity of lower-skilled workers the most.[14] But newer studies looking at more complex tasks – like scientific research[15], running a business[16]and investing[17]– tell a different story. High performers benefit disproportionately and, in some cases, less productive workers see no improvements at all.

    So even if AI augments more than it automates, we are likely to see an increase in labour market inequality. Demand for higher-skilled workers who can use AI most effectively will rise, while those less able to learn new skills could suffer.

    All told, I do see a path for Europe to adopt AI without fracturing its social model. But it will require massive complementary investments in skills to prevent a rise in inequality.

    Crucially, this will not require everyone to become coders, which would probably set the bar too high. According to the OECD, most workers who will be exposed to AI will not need specialised AI skills to get ahead in their careers.

    In fact, the most sought-after skills in highly exposed jobs will be linked to management and business – skills that many people have the capacity to learn.[18]

    The CEO of Anthropic, Dario Amodei, has described the potential capabilities of AI as being like “a country of geniuses in a data centre”.[19] If this proves to be correct, it is both an awesome prospect for humanity and a daunting one for individual workers.

    I believe we must act today, and especially in Europe, with the mindset that this future will likely come to pass. We must remove all the barriers that will prevent us from being at the forefront of this revolution.

    But we must also prepare for the human and climate impacts of this transition, and we need to start now.

    I trust that this conference will generate the ideas we need to move forwards.

    MIL OSI Economics –

  • MIL-OSI NGOs: Israel/OPT: Killings of paramedics and rescue workers in Gaza must be investigated

    Source: Amnesty International –

    Israel’s genocide in Gaza has resulted in an unprecedented number of aid workers being killed

    Human rights investigators are still unable to access Gaza to monitor alleged war crimes

    ‘Every day of inaction is costing lives in Gaza and further emboldens perpetrators’ – Erika Guevara Rosas

    There must be an independent and impartial investigation into the circumstances in which at least 15 Palestinian medics and rescue workers, who went to southern Gaza for a rescue operation, were shot dead after Israeli forces opened fire on their vehicles, said Amnesty International today, reiterating calls for independent monitors to be granted immediate access to the occupied Gaza Strip.

    Those killed included eight Palestinian Red Crescent Society (PRCS) health workers, one UNRWA staff member, and six members of the Palestinian Civil Defense. One further PRCS paramedic remains missing.

    Erika Guevara Rosas, Amnesty International’s Senior Director for Research, Policy, Advocacy and Campaigns, said:

    “These men were paramedics and rescue workers who put their lives on the line day after day, braving bombs and bullets, and working in harrowing conditions to save lives. The fact that they were killed while trying to rescue people is deeply distressing and an absolute tragedy.

    “Medical personnel carrying out their humanitarian duties must be respected and protected in all circumstances. Deliberate attacks on medics and humanitarian workers are prohibited by international law and constitute war crimes.

    “When medics and humanitarian workers are stopped from doing their lifesaving work, all victims of conflict suffer. These killings must be independently and impartially investigated, and the perpetrators must be held to account.”

    Israel must allow access to human rights investigators

    Amnesty will continue to investigate the details of this incident. Efforts to investigate violations and crimes under international law in Gaza continue to be severely hampered by Israel’s total siege of the Gaza Strip, including its refusal to allow access to human rights investigators, including forensic experts.

    Continuing, Erika Guevara Rosas said:

    “Israeli authorities must not be allowed to continue to obstruct investigations into atrocity crimes, in defiance of legally binding orders of the International Court of Justice. They must immediately allow for impartial and independent investigations to be carried out and vital evidence to be collected and stored by professional investigators, including those mandated by the UN and the International Criminal Court, as well as those working for Palestinian and international human rights organisations. Without such investigations Israel is denying victims any prospect for justice and reparation.

    “In light of Israel’s brazen defiance of international law, including the fundamental principles of international humanitarian law, states cannot continue to remain silent and inactive. They have clear obligations to ensure Israel respects international humanitarian law and to bring an end to Israel’s genocide and other gross violations of international law against Palestinians. Every day of inaction is costing lives in Gaza and further emboldens perpetrators.”

    Investigation needed

    According to a member of the Palestinian Civil Defense interviewed by Amnesty, the victims had travelled to the Hashashin area in Rafah, the southern Gaza Strip on 21 March on a joint rescue mission by PRCS and the Palestinian Civil defense. They had gone to the area to provide assistance to a number of wounded people, including a PRCS medic, Mustafa Khafaja, who himself had been injured after going to the area to provide first aid to people injured as a result of Israeli shelling. The PRCS crew had been missing for days before their bodies were found on 30 March in a mass grave after an agonising nine-day search. One of the paramedics was detained by Israeli forces and then released on 23 March.

    The Israeli military said an initial inquiry found that its troops opened fire on vehicles it deemed “suspicious”, acknowledging that they had shot at Palestinian ambulances and fire trucks. Israeli forces had been in full control of the area at the time.

    Amnesty will continue to investigate the details of this incident. Efforts to investigate violations and crimes under international law in Gaza continue to be severely hampered by Israel’s total siege of the Gaza Strip, including its refusal to allow access to human rights investigators, including forensic experts.

    Israel’s genocide in Gaza has already resulted in an unprecedented number of aid workers being killed, the vast majority of whom are Palestinians. In total, since 7 October 2023, at least 408 aid workers have been killed in Gaza, including at least 280 UNRWA staff and 34 PRCS staff.

    MIL OSI NGO –

  • MIL-OSI United Nations: Oslo Forum elevates financing for disaster risk reduction to a global priority

    Source: UNISDR Disaster Risk Reduction

    The urgent need to close the global financing gap for disaster risk reduction took center stage at a high-level forum held in Oslo from 25 to 26 March, hosted by the Government of Norway with the support of the UN Office for Disaster Risk Reduction (UNDRR). 

    In recent years, the cost of disasters has increased as a function of more extreme weather events and uninformed development decisions, which unintentionally place people and assets in harm’s way. 

    Despite this growth, there has been no equivalent increase in the amount of funding to reduce disaster risks. Indeed, the lack of funding was identified in the Midterm Review of the Sendai Framework for Disaster Risk Reduction, as one of the biggest obstacles to transforming plans and strategies into action on the ground.

    By some measures, the amount of funding for disaster prevention has even decreased. According to a review by UNDRR, within the humanitarian sector, the amount of funding for disaster prevention and preparedness has gone down over the years – from an already low level of 3.6% between 2015 and 2018, to 3.3% between 2019 and 2023. 

    Compounding the problem, public development projects and private sector investments are often not informed by an understanding of disaster risks, which could increase the likelihood of these investments triggering disasters or being destroyed by them. 

    The High-Level Forum on Accelerated Disaster Risk Reduction Financing to Build Resilience, which met over two days from 25 to 26 March in Oslo, took up the challenge of addressing these aspects of finance by convening high-level representatives from 20 countries in addition to experts from international organizations, multilateral development banks, the private sector, and research institutes. 

    “We gathered in Oslo to advance the disaster risk reduction financing agenda.  With the constructive contributions over the past two days, I believe we have created the momentum we need to take this forward,” said Mr. Åsmund Aukrust, Norway’s Minister of International Development, who opened the forum. 

    Technical support for the Forum was provided by UNDRR, which participated through a delegation led by Mr. Kamal Kishore, the Special Representative of the United Nations Secretary-General for Disaster Risk Reduction and the Head of UNDRR. 

    Mr. Kishore expressed his gratitude to Norway for hosting these discussions and noted the centrality of disaster risk reduction to addressing many global challenges:

    “Financing is the single challenge that unites the disaster, climate, development, and humanitarian domains. The unique advantage of disaster risk reduction is that it can simultaneously strengthen all the other domains, because of its emphasis on reducing vulnerabilities and building resilience.”

    The forum’s outcomes will inform policy discussion on financing in international fora, including the Global Platform on Disaster Risk Reduction 2025, the G20 Disaster Risk Reduction Working Group, and at the events leading up to the 4th International Conference on Financing for Development. In addition, UNDRR, in coordination with Norway, will follow up with partners to transform some of the proposals into concrete actions over the coming months.

    MIL OSI United Nations News –

  • MIL-OSI Asia-Pac: CSIR Submits Annual Accounts for FY 2024–25 to CAG on Day One of the Financial Year

    Source: Government of India

    Posted On: 01 APR 2025 10:25PM by PIB Delhi

    The Council of Scientific and Industrial Research (CSIR) has reached a significant milestone in financial management and institutional efficiency by submitting its Annual Accounts for the Financial Year 2024–25 to the Comptroller and Auditor General (CAG) of India on April 1, 2025. This submission has been accomplished three months ahead of the statutory deadline of June 30, 2025.

    This early submission reflects CSIR’s continued commitment to sound financial governance, administrative transparency, and process efficiency. It is the result of coordinated efforts across CSIR Headquarters and its 38 constituent laboratories and institutions located across the country.

    The Integrated Finance Division Team presenting the Balance Sheet and Annual Accounts to DG, CSIR

    Shri Chetan Prakash Jain, JS&FA, CSIR lead IFD team submitting the Annual Accounts for the Financial Year 2024–25 to the CAG

    A key enabler of this achievement has been the successful implementation of the Accounts Management System (AMS) software, developed entirely in-house. The system was conceptualized and developed by a team of CSIR officers comprising Shri S.P. Singh, Senior Deputy Financial Adviser; Shri Arvind Khanna, Financial and Accounts Officer; and Ms. Akansha Trehan, Technical Officer. The software has enabled streamlined, real-time financial consolidation and has brought greater accuracy and timeliness in the preparation of accounts across the CSIR system.

    The initiative was undertaken under the guidance of Dr. N. Kalaiselvi, Director General, CSIR and Secretary, DSIR, and was steered under the financial leadership of Shri Chetan Prakash Jain, Joint Secretary and Financial Adviser, CSIR/DSIR.

    By completing the process of annual financial closure and submission on the very first day of the new financial year, CSIR demonstrates the viability of achieving high standards in public financial reporting. This development serves as a benchmark for other scientific and public sector organizations striving to enhance financial discipline and administrative performance.

    CSIR remains committed to further strengthening its systems and practices in alignment with the principles of good governance.

    ***

    NKR/PSM

    (Release ID: 2117571) Visitor Counter : 152

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Threads of Progress

    Source: Government of India

    Threads of Progress

    How Make in India is Shaping the Future of Textiles and Apparel Industry

    Posted On: 01 APR 2025 7:46PM by PIB Delhi

    Introduction

    The Make in India initiative, launched in 2014, has played a crucial role in positioning India as a global textile manufacturing and export hub. The textile and apparel industry is one of the largest contributors to India’s economy, providing employment to millions and generating substantial foreign exchange earnings. With strong policy support, infrastructure development, and a skilled workforce, India has emerged as a preferred investment destination in the global textile sector.

     

    Overview of India’s Textile Industry

    The textile and apparel industry contributes 2.3% to our GDP, 13% to industrial production, and 12% to exports. India exported textile items worth US$ 34.4 billion in 2023-24, with apparel constituting 42% of the export basket, followed by raw materials/semi-finished materials at 34% and finished non-apparel goods at 30%. It is also the second largest employment generators, after agriculture, with over 45 million people employed directly, including many women and the rural population. As further evidence of the inclusive nature of this industry, nearly 80% of its capacity is spread across Micro, Small and Medium Enterprises (MSME) clusters in the country.

    The sector also has perfect alignment with the Government’s overall objectives of Make in India, Skill India, Women’s Empowerment, Rural Youth Employment and inclusive growth. The industry produces about 22,000 million pieces of garments per year, with the market size projected to reach US$ 350 billion by 2030, from the current $174 billion.

    Recently, the Ministry of Textiles reported a 7% increase in textile and apparel exports, including handicrafts, from April to December 2024, compared to the same period the previous year. In line with the growth roadmap, the Indian textile market currently ranks fifth globally, and the government is actively working to accelerate this growth to a rate of 15-20% over the next five years.

     

    Impact of ‘Make in India’ on the Textile Industry

    The Make in India initiative has catalyzed textile manufacturing and exports through key policy interventions, enhanced infrastructure, and incentives. In the Union Budget 2024-25, to promote domestic textile production, two more types of shuttle-less looms are added to fully exempted textile machinery by the government. The government has introduced multiple schemes to enhance textile production, boost investments, and promote exports, including:

    1. Production Linked Incentive (PLI) Scheme for Textiles
    • Objective: To increase manufacturing in man-made fibre (MMF) and technical textiles.
    • Budget: ₹10,683 crore.
    • Incentives: Financial incentives for large-scale textile manufacturers.

     

    1. PM MITRA (Mega Integrated Textile Region and Apparel) Parks
    • Objective: To develop world-class industrial infrastructure for textile manufacturing.
    • Focus: On developing integrated large scale and modern industrial infrastructure facility for total value-chain of the textile industry like spinning, weaving, processing, garmenting, textile manufacturing, processing & textile machinery industry.
    • Budget: ₹4,445 crore for a period 2021-22 to 2027-28.
    • Key Benefits: Reduced logistics costs, increased FDI, and better competitiveness in global markets.
    • Current Status: A total of 7 Parks established in states of Gujarat, Maharashtra, Madhya Pradesh, Tamil Nadu, Karnataka, Uttar Pradesh, and Telangana.

     

    1. Amended Technology Upgradation Fund Scheme (ATUFS)
    • Objective: To incentivise credit flow for benchmark credit linked technology upgradation in this MSME driven Textile Industry for supporting capital investment.
    • Budget: ₹17,822 crore.
    • Incentives: Capital subsidies for technology upgradation.

     

    1. Samarth (Scheme for Capacity Building in Textile Sector)
    • Objective: To provide skill training to workers in the textile industry, in partnership with the Ministry of Skill Development & Entrepreneurship.
    • Budget Allocation: An amount of ₹115 crores was sanctioned during the FY 2023-24, out of which ₹114.99 crores (99.9%) were disbursed.
    • Current Status: As of March 27, 2025, more than 4.78 lakh users have been registered on the Samarth portal. As on March 19, 2025, a total of 3.82 lakh beneficiaries have been trained (passed) and 2.97 lakh beneficiaries (77.74%) have been placed.

     

    1. Textile Cluster Development Scheme (TCDS)
    • Objective: To create an integrated workspace and linkages-based ecosystem for existing as well as potential textile units/clusters to make them operationally and financially viable.
    • Benefits: Cluster development model of TCDS will bring benefits of critical mass for customization of interventions, economies of scale in operation, competitiveness in manufacturing, cost efficient, better access to technology and information, etc.
    • Budget: ₹853 crore.
    • Current Status: As of March 18, 2025, about 1.22 lakh employment opportunities have been generated under the scheme. During 2024-25, ₹34.48 crore have been released.

     

    1. National Technical Textiles Mission (NTTM)
    • Objective: To boost Technical Textiles in the country.
    • Target Years: 2020-21 to 2025-26
    • Budget: ₹1480 crore
    • Focus: The Mission focuses on (i) research, innovation and development, (ii) promotion and market development (iii) education and skilling and (iv) export promotion in technical textiles to position country as global leader in technical textiles.
    • Current Status: As on January 1, 2025, 168 projects of value ₹509 crores (approx.) have been approved in the category of Specialty fibres and Technical Textiles.

     

    Union Budget Allocations for Ministry of Textiles

    The Union Budget announced an outlay of ₹5272 crores for the Ministry of Textiles for 2025-26. This is an increase of 19% over budget estimates of 2024-25 (Rs. 4417.03 crore).

     

    Key Highlights

    • Cotton Mission: A five-year plan to improve cotton productivity, especially extra-long staple varieties, with science and technology support.
    • Tax Exemptions on Looms: Duty removed on select shuttle-less looms to reduce costs and modernize weaving.
    • Customs Duty on Knitted Fabrics: Increased from “10% or 20%” to “20% or ₹115 per kg, whichever is higher” to curb cheap imports.
    • Handicraft Exports: Time for export extended from six months to one year, with more items eligible for duty-free input imports.
    • MSME Boost: Focus on exports, credit enhancement, and policies like the National Manufacturing Mission, Export Promotion Mission, Bharat Trade Net, and Fund of Funds to promote employment and entrepreneurship.

     

    These measures aim to boost domestic manufacturing, support MSMEs, modernize the textile sector, and enhance India’s global competitiveness.

     

    Export Growth and Market Expansion

    India is the 6th largest exporter of Textiles & Apparel in the world. The share of textile and apparel (T&A) including handicrafts in India’s total exports stands at a significant 8.21% in 2023-24. India has a share of 3.91% of the global trade in textiles and apparel. Major textile and apparel export destinations for India are USA and EU and with around 47% share in total textile and apparel exports.  The textile and apparel sector has witnessed significant export growth due to government incentives and trade agreements.

    The government has taken several steps to enhance exports in textiles and apparels, including:

    • Rebate of State and Central Taxes and Levies (RoSCTL): On 7th March 2019, Government approved Rebate of State and Central Taxes and Levies (RoSCTL) Scheme to rebate all embedded State and Central taxes/levies on export of Apparel/Garments and Made-ups to provide support and enhance competitiveness of these sectors.
    • Production Linked Incentive (PLI) Scheme for Textiles: Under this scheme, as per the Quarterly Review Reports (QRRs) released on 31.03.2024, the turnover achieved was Rs. 1,355 crore including export of Rs.166 crore.
    • Free Trade Agreements: India has so far signed 14 Free Trade Agreements (FTAs) including recently concluded agreement with United Arab Emirates (UAE), Australia and TEPA (Trade and Economic Partnership Agreement) with EFTA (European Free Trade Association) countries comprising Switzerland, Iceland, Norway & Liechtenstein. India has 6 Preferential Trade Agreements (PTAs) with various trading partners. India is presently engaged in FTA negotiations with some of its trading partners notable among these FTAs are India-UK Free Trade Agreement, India- EU Free Trade Agreement, and India-Oman FTA.
    • Quality Control Orders: The Ministry has actively taken up notification of standards for textile products in co-ordination with Bureau of Indian Standards and Quality Control Orders (QCOs) are issued to regulate quality and curb sub-standard imports.
    • Textile Advisory Group on Man-Made Fibre (MMF): The Ministry has constituted a “Textile Advisory Group on Man-made Fibre (MMF)” comprising stakeholders of the country’s entire Man-Made Fibre (MMF) including viscose to deliberate and make recommendations on the issues and concerns of the sector.
    • Exports Promotion Councils (EPCs): There are eleven Exports Promotion Councils (EPCs) representing various segments of the textiles & apparel value chain from Fibre to finished goods as well as traditional sectors like handloom, handicrafts and carpets.  These Councils work in close cooperation with the Ministry of Textiles and other Ministries to promote the growth and export of their respective sectors in global markets. 

     

    FDI in Textile and Apparel Industry

     

     

    Foreign Direct Investment (FDI) plays a role in the Indian textile and apparel sector. From January 2000 to March 2024, the textile sector received US$ 4,472.79 million (₹28,304.10 crore) in FDI equity. FDI in textile sector over the years can be traced in the graph below:

    BHARAT TEX 2024

    Bharat Tex 2024, a global textile expo was successfully organized during February 26 to February 29, 2024 by the consortium of 11 Textiles Export Promotion Councils with the support of Ministry of Textiles. Built on the twin pillars of trade and investment and with an overarching focus on sustainability, the 4-day event attracted besides policymakers and global CEOs, 3,500 Exhibitors, 3,000 Buyers from 111 Countries and over one lakh trade visitors. An exhibition spread across nearly 2 million sq ft of area and encompassing the entire textile value chain, including an artistically curated story of textiles- Vastra Katha were the highlights of the event. The event was hosted simultaneously at two state of the art venues in Delhi – Bharat Mandapam and Yashobhoomi with both venues fully subscribed.

    This global scale conference with 70 sessions and 112 international speakers saw engaging discussions on key textile issues of the day including Textile Mega Trends, Sustainability, resilient global supply chains and Manufacturing 4.0.

     

    BHARAT TEX 2025

    Bharat Tex 2025, India’s largest global textile event, was successfully organized from February 14 to 17, 2025, at Bharat Mandapam, New Delhi. The event spanned 2.2 million square feet and featured over 5,000 exhibitors, providing a comprehensive showcase of India’s textile ecosystem. More than 1,20,000 trade visitors, from 120+ countries including global CEOs, policymakers, and industry leaders, attended the event.

    Bharat Tex 2025 served as a platform to accelerate the government’s “Farm to Fibre, Fabric, Fashion, and Foreign Markets” vision. India’s textile exports have already reached ₹3 lakh crore, and the goal is to triple this to ₹9 lakh crore by 2030 by strengthening domestic manufacturing and expanding global reach. The event demonstrated India’s leadership in the textile sector and its commitment to innovation, sustainability, and global collaboration.

     

    Innovation in Textile Sector

    As far as innovation in textiles sector is concerned, Ministry of Textiles has conducted an Innovation Challenges in collaboration with Startup India & DPIIT. In this challenge, 9 winners were recognised and awarded, while incubation opportunities were presented to 6 awardees under the Atal Innovation Mission (AIM). Apart from this, 3 separate innovations challenges were conducted by nature fibre boards on their respective problem statements i.e. 

    • NJB Technological Innovation Grand Challenge in which 3 winners were recognised and awarded out of 125 applicants.
    • CSB Start-up Grand Challenge in which 4 winners were recognised and awarded out of             58 applicants.
    • CWDB Wool Innovation Challenge in which 3 winners were recognised and awarded out of     24 applicants.
    • 17 of the total above-mentioned winners are directly engaging in activities such as textile waste recycling, biobased fibres or sustainable garment production. 

     

    Cotton Industry in India

    Cotton is a vital commercial crop in India, contributing about 24% to global cotton production and sustaining the livelihoods of millions of farmers and workers. It plays a crucial role in India’s foreign exchange earnings through exports of raw cotton, intermediate products, and finished goods. India holds the largest cotton acreage in the world.

    • Acreage and Yield: India has the largest cotton acreage globally; ranks 36th in productivity.
    • Production and Consumption: India is the 2nd largest producer and consumer of cotton in the world.
    • Cotton Species: India grows all four species of cotton: G. Arboreum, G. Herbaceum (Asian cotton), G. Barbadense (Egyptian cotton) and G. Hirsutum (American Upland cotton).
    • Major Growing Zones: Cotton is primarily grown in the Northern, Central, and Southern zones of India.

     

    Production and Consumption of Cotton (in lakh bales)

    Cotton Year

    Production

    Consumption

    2021-22

    311.17

    322.41

    2022-23

    336.60

    313.63

    2023-24 (P)

    325.22

    323.00

     

    Import and Export of Cotton (in lakh bales)

    Cotton Season

    Import (in lakh bales)

    Export (in lakh bales)

    2021-22

    21.13

    42.25

    2022-23

    14.60

    15.89

    2023-24*

    6.73

    26.24

    * Position up to 30.06.2024

     

    Government Schemes and Initiatives:

    • Minimum Support Price (MSP) Operations to ensure remunerative prices to cotton farmers.
    • “Cott-Ally” mobile app for cotton farmers.
    • Aadhar-based farmer registration for MSP benefits.
    • E-auction for transparent sale of cotton stock.
    • QR code using Block Chain Technology for traceability of cotton.
    • Kasturi Cotton Bharat programme for branding Indian Cotton.

     

    Silk Industry in India

    Silk is an insect fibre known for its lustre, drape, and strength. It is called the “Queen of Textiles” worldwide. India has a long history with silk and is the second largest producer and the largest consumer of silk in the world. India is unique in producing all four commercial varieties of silk: Mulberry, Tropical & Oak Tasar, Muga, and Eri. The Indian sericulture industry is important because it provides a lot of employment, requires low capital, and gives good income to silk growers. India produced 38,913 MT of silk, making it the second largest producer globally, after China.

     

    Years

    Mulberry

    Tasar

    Eri

    Muga

    Total

    2004-05

    14,620

    322

    1,448

    110

    16,500

    2014-15

    21,390

    2,434

    4,726

    158

    28,708

    2020-21

    23,896

    2,689

    6,946

    239

    33,770

    2021-22

    25,818

    1,466

    7,364

    255

    34,903

    2022-23

    27,654

    1,318

    7,349

    261

    36,582

    2023-24

    29,892

    1,586

    7,183

    252

    38,913

    2024-25 (April-September)

    14,233

    106

    3,924

    92

    18,355

    Source: Central Silk Board, Bengaluru

     

    The Indian government supports the silk industry through various initiatives and schemes:

    • The Central Silk Board (CSB) is a statutory body under the Ministry of Textiles that was established in 1948 to develop the silk industry.
    • The Ministry of Textiles is implementing the Scheduled Caste Sub Plan (SCSP) and Tribal Sub Plan (TSP) under the Silk Samagra Scheme.
    • In 2023-24, the Ministry of Textiles, Government of India, allocated ₹25 crore for the implementation of the SCSP for sericulture. The entire funds allocated under SCSP were fully utilized/released for implementation of beneficiary-oriented components.
    • The government is also working on research and development in the silk sector to improve productivity and quality. This includes promoting soil testing, organic farming, and the use of silkworm by-products. They are also upgrading reeling technology and promoting indigenous automatic reeling machines to boost the Make in India program.
    • The industry also focuses on product design development and diversification to promote Indian silks and help manufacturers and exporters create innovative designs and fabrics.

     

    Jute Industry in India

    The jute industry is a major player in India’s economy, particularly in the eastern regions like West Bengal. It’s a vital source of employment, providing livelihoods for workers in organized mills and diversified units, and supporting numerous farm families. The Indian government actively supports the jute sector through various initiatives aimed at improving productivity, ensuring fair prices for farmers, and promoting the use of jute products.

    • The jute industry provides direct employment to 4 lakh workers in organized mills and diversified units, including the tertiary sector and allied activities.
    • It supports the livelihood of 40 lakh farm families.
    • As per the Office of Jute Commissioner, there are 116 composite jute mills.
    • West Bengal has the highest number of jute mills (86).
    • Government of India provides support to the jute growers through MSP operations by the Jute Corporation of India and also through direct purchase of jute sacking.
    • Average land area under raw jute & mesta cultivation is 799 thousand hectares (average of last four years).
    • Average production of raw jute & mesta is 10,990 thousand bales (average of last four years).
    • Average export of jute goods is 133 thousand MT per annum with a value of Rs. 21,150 million per annum (average of last four years).
    • Jute – ICARE has been launched for improving fibre quality and productivity, reducing the cost of jute production, and increasing the income of jute farmers.
    • The schemes for the promotion of the jute sector are primarily implemented by the National Jute Board.

     

    Conclusion

    The Make in India initiative has significantly enhanced India’s position in global textile manufacturing and exports through targeted policies, infrastructure development, and investment promotion. With sustained efforts, India is poised to become a global textile leader, driving economic growth and employment generation.

     

    References

    https://www.texmin.nic.in/textile-data

    https://jutecomm.gov.in/FAQ.html

    https://www.investindia.gov.in/sector/textiles-apparel

    https://pib.gov.in/PressReleasePage.aspx?PRID=2089306

    https://pib.gov.in/PressReleasePage.aspx?PRID=2098352

    https://pib.gov.in/PressReleasePage.aspx?PRID=2099411

    https://pib.gov.in/PressReleasePage.aspx?PRID=2114277

    https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2104423

    https://www.indiabudget.gov.in/economicsurvey/doc/echapter.pdf

    https://www.texmin.nic.in/sites/default/files/Indian%20Jute%20At%20a%20Glance.pdf

    https://www.texmin.nic.in/sites/default/files/Note%20on%20Cotton%20Sector_0.pdf

    https://sansad.in/getFile/loksabhaquestions/annex/184/AU4118_0othg1.pdf?source=pqals

    https://sansad.in/getFile/loksabhaquestions/annex/184/AS245_n0CCI6.pdf?source=pqals

    https://sansad.in/getFile/loksabhaquestions/annex/184/AU2877_YZdL4e.pdf?source=pqals

    https://sansad.in/getFile/loksabhaquestions/annex/184/AU2873_sOQ5IE.pdf?source=pqals

    https://sansad.in/getFile/loksabhaquestions/annex/184/AS110_T8V4VD.pdf?source=pqals

    https://www.texmin.nic.in/sites/default/files/FDI%20inflow%20at%20a%20glance.pdf

    https://www.texmin.nic.in/sites/default/files/Table-2%20Raw%20Silk%20Production%20Statistics.pdf

    https://texmin.nic.in/sites/default/files/MOT%20Annual%20Report%20English%20%2807.11.2024%29.pdf

    https://www.texmin.nic.in/sites/default/files/FDI%20inflow%20%28Finacial%20year%20wise%29.pdf

    https://ddnews.gov.in/en/india-sets-new-record-with-7-rise-in-textile-exports-government-implements-multiple-schemes-to-boost-sector/

    Threads of Progress

    ***

    Make in India (T&A) | Explainer | 05

    Santosh Kumar | Sheetal Angral | Rishita Aggarwal

    (Release ID: 2117470) Visitor Counter : 183

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: FM launches “NITI NCAER States Economic Forum” Portal

    Source: Government of India

    FM launches “NITI NCAER States Economic Forum” Portal

    Portal developed by NITI in collaboration with NCAER

    Posted On: 01 APR 2025 9:14PM by PIB Delhi

    Finance Minister Ms. Nirmala Sitharaman launched the “NITI NCAER States Economic Forum” portal today in New Delhi. The portal has been developed by NITI Aayog, in collaboration with the National Council of Applied Economic Research (NCAER), which is a comprehensive repository of data on social, economic and fiscal parameters, research reports, papers, and expert commentary on State Finances for a period of about 30 years (i.e 1990-91 to 2022-23). 

    In her keynote address, Ms. Nirmala Sitharaman stated that NITI NCAER States Economic Forum will be beneficial in the availability of authentic data. She observed that the portal will help States to make more meaningful interventions, raising revenues, managing debts and learning from peer experiences. She emphasised the importance of balance in public finances between revenue generation without burdening the people. She said that this forum is a much-needed step in present times which will help in greater engagement with States. 

    Director General of National Council of Applied Economic Research (NCAER), Dr. Poonam Gupta while making a presentation on the portal highlighted the diverse nature of fiscal path of the States. She underlined the need for a portal which has comprehensive data of all States, thereby, providing an opportunity to appreciate the position of other States while making informed policy decisions. 

    CEO, NITI Aayog, Shri BVR Subrahamanyam, in his remarks, emphasised that this forum will not only provide information for public knowledge but will also create awareness and fiscal learning across States. He further opined that this forum will play a pivotal role in human service and a permanent asset for the nation as a whole.

    NITI Aayog, Vice Chairman, Suman K Bery, observed that the NITI NCAER State Economic Forum is a key step in data-driven research, especially on public finances.

     

    ***

    MJPS/SR

    (Release ID: 2117547) Visitor Counter : 164

    MIL OSI Asia Pacific News –

  • MIL-OSI: Bank OZK Announces Increase to Quarterly Common Stock Dividend and Announces Preferred Stock Dividend

    Source: GlobeNewswire (MIL-OSI)

    LITTLE ROCK, Ark., April 01, 2025 (GLOBE NEWSWIRE) — Bank OZK (the “Bank”) (Nasdaq: OZK) announced its Board of Directors declared a quarterly cash dividend on the Bank’s common stock of $0.43 per share, up $0.01, or 2.38% from the prior quarter. The common stock dividend is payable on April 21, 2025 to shareholders of record as of April 14, 2025. Bank OZK has increased its quarterly cash dividend on its common stock in each of the last fifty-nine quarters.

    The Board of Directors also declared a quarterly cash dividend of $0.28906 per share on the Bank’s 4.625% Series A Non-Cumulative Perpetual Preferred Stock (“Series A Preferred Stock”) (Nasdaq: OZKAP) for the period covering February 15, 2025 through, but excluding May 15, 2025. The Series A Preferred Stock dividend is payable on May 15, 2025, to the holders of record of the Series A Preferred Stock at the close of business on May 1, 2025.

    Bank OZK’s consistent track record of increasing its common stock dividend has led to it being included in the S&P High Yield Dividend Aristocrats® index (Ticker: SPHYDA) since January 2018. The index consists of members of the S&P Composite 1500® that have followed a managed-dividends policy of consistently increasing common stock dividends every year for at least 20 years, and that meet minimum float-adjusted market capitalization and liquidity requirements. For more information on the index, visit www.spglobal.com/spdji.

    GENERAL INFORMATION
    Bank OZK (Nasdaq: OZK) is a regional bank providing innovative financial solutions delivered by expert bankers with a relentless pursuit of excellence. Established in 1903, Bank OZK conducts banking operations in more than 240 offices in nine states including Arkansas, Georgia, Florida, North Carolina, Texas, Tennessee, New York, California and Mississippi and had $38.26 billion in total assets as of December 31, 2024.   For more information, visit www.ozk.com.

    The Bank files annual, quarterly and current reports, proxy materials, and other information required by the Securities Exchange Act of 1934 with the Federal Deposit Insurance Corporation (“FDIC”), copies of which are available electronically at the FDIC’s website at https://efr.fdic.gov/fcxweb/efr/index.html and are also available on the Bank’s investor relations website at ir.ozk.com. To receive automated email alerts for these materials please visit https://ir.ozk.com/other/email-alerts to sign up.

       
    Investor Relations Contact: Jay Staley (501) 906-7842
    Media Contact: Michelle Rossow (501) 906-3922
       

    The MIL Network –

  • MIL-OSI: Diamondback Energy, Inc. Announces Closing of Double Eagle Acquisition

    Source: GlobeNewswire (MIL-OSI)

    MIDLAND, Texas, April 01, 2025 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or “the Company”) today announced that it has completed its previously announced acquisition of certain subsidiaries of Double Eagle IV Midco, LLC (“Double Eagle”).

    About Diamondback

    Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.

    Forward-Looking Statements

    This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Diamondback’s: future performance; business strategy; future operations (including drilling plans and capital plans); estimates and projections of production, revenues, losses, costs, expenses, returns, cash flow, and financial position; reserve estimates and its ability to replace or increase reserves; anticipated benefits or other effects of strategic transactions (including the pending drop down transaction with Viper Energy, Inc., the Double Eagle Acquisition and other acquisitions or divestitures); and plans and objectives of management (including plans for future cash flow from operations) are forward-looking statements. When used in this news release, the words “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “model,” “outlook,” “plan,” “positioned,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions (including the negative of such terms) as they relate to Diamondback are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Although Diamondback believes that the expectations and assumptions reflected in its forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond Diamondback’s control. Accordingly, forward-looking statements are not guarantees of future performance and Diamondback’s actual outcomes could differ materially from what Diamondback has expressed in its forward-looking statements.

    Factors that could cause the outcomes to differ materially include (but are not limited to) the following: changes in supply and demand levels for oil, natural gas, and natural gas liquids, and the resulting impact on the price for those commodities; the impact of public health crises, including epidemic or pandemic diseases and any related company or government policies or actions; actions taken by the members of OPEC+ and Russia affecting the production and pricing of oil, as well as other domestic and global political, economic, or diplomatic developments, including any impact of the ongoing war in Ukraine and the Israel-Hamas war on the global energy markets and geopolitical stability; instability in the financial markets; trade wars; inflationary pressures; higher interest rates and their impact on the cost of capital; regional supply and demand factors, including delays, curtailment delays or interruptions of production, or governmental orders, rules or regulations that impose production limits; federal and state legislative and regulatory initiatives relating to hydraulic fracturing, including the effect of existing and future laws and governmental regulations; physical and transition risks relating to climate change; those risks described in Item 1A of Diamondback’s Annual Report on Form 10-K, filed with the SEC on February 26, 2025, and those risks disclosed in its subsequent filings on Forms 10-Q and 8-K, which can be obtained free of charge on the SEC’s website at http://www.sec.gov and Diamondback’s website at www.diamondbackenergy.com/investors.

    In light of these factors, the events anticipated by Diamondback’s forward-looking statements may not occur at the time anticipated or at all. Moreover, Diamondback operates in a very competitive and rapidly changing environment and new risks emerge from time to time. Diamondback cannot predict all risks, nor can it assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those anticipated by any forward-looking statements it may make. Accordingly, you should not place undue reliance on any forward-looking statements. All forward-looking statements speak only as of the date of this news release or, if earlier, as of the date they were made. Diamondback does not intend to, and disclaims any obligation to, update or revise any forward-looking statements unless required by applicable law.                                        

    Investor Contact:
    Adam Lawlis
    +1 432.221.7467
    alawlis@diamondbackenergy.com 

    The MIL Network –

  • MIL-OSI USA: Cortez Masto, Cassidy Push for Long-Needed Update to Supplemental Security Income Program

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto
    Washington, D.C. – Today, U.S. Senators Catherine Cortez Masto (D-Nev.) and Bill Cassidy (R-La.), alongside Senate Finance Committee Ranking Member Ron Wyden (D-Ore.), introduced the SSI Savings Penalty Elimination Act to reform the Supplemental Security Income (SSI) program, which has not been updated in 40 years. Currently, the program unfairly punishes lower-income seniors and people with disabilities for saving responsibly for emergencies or their futures. A companion to this bill will be introduced in the House of Representatives by Congressmen Danny K. Davis (D-Ill.) and Brian Fitzpatrick (R-Penn.).
    Right now, individuals with a disability or those aged 65 and older are only eligible for Supplemental Security Income if they have under $2,000 in assets. SSI’s marriage penalty restricts married couples to a total of $3,000 in financial resources to remain eligible. The Senators’ bipartisan, bicameral legislation would update SSI’s asset limits for the first time since the 1980s to allow millions of Americans with disabilities to marry, work, earn, and save money without putting the benefits they rely on to live at risk.
    “A $2,000 rainy-day fund doesn’t go as far as it did in 1989, but that’s all the savings that people who rely on SSI benefits are allowed,” said Senator Cortez Masto. “We shouldn’t punish people who are working hard, saving their money, and planning for the future. Congress must raise the SSI asset limit to help our seniors and Americans with disabilities.”
    “Outdated rules are making disabled Americans pick between a better job and losing their safety net. That’s wrong,” said Dr. Cassidy. “Instead, let’s encourage work, help people save, and lift them out of poverty.”
    “Every year, SSI’s outdated rules prevent Americans from being able to work, save, or marry the one they love,” said Senator Wyden. “This bipartisan bill gives Americans who are trying to make ends meet the chance to live independently without fear of being forced to forfeit an economic lifeline. As the Ranking Member of the Finance Committee, I am committed to making sure SSI is no longer stuck in yesteryear so every American can live with dignity and respect.”
    “I am honored to join with my colleagues to champion the SSI Savings Penalty Elimination Act that would improve the lives of lower-income seniors and people with disabilities,” said Congressman Davis. “This bipartisan, bicameral bill would reform one of the most regressive, anti-savings measures in federal law by updating the outdated asset limits of the Supplemental Security Income program for the first time in almost 40 years. The necessity of this legislation is reflected in its support by over 200 businesses, faith-based groups, and organizations from across the political spectrum.”
    “Raising the SSI asset limits is a smart, long-overdue reform that updates a critical program to reflect today’s economic realities,” said Congressman Fitzpatrick. “For over forty years, outdated restrictions have discouraged work and penalized those who try to save for their future. The SSI Savings Penalty Elimination Act modernizes these limits, ties them to inflation, and ensures that seniors and individuals with disabilities are not forced to choose between earning a paycheck and keeping the benefits they depend on. This bipartisan legislation promotes financial independence and strengthens the integrity of our safety net.”
    A study by JPMorganChase suggests that current asset and income limits on federal benefits for people with disabilities make it harder for them to work a part-time job or save money for an emergency. The SSI Savings Penalty Elimination Act would raise the SSI asset limits to $10,000 for individuals and $20,000 for married couples, and index them to inflation moving forward. The last update to SSI asset limits was passed by Congress in 1984 and went into effect in 1989.
    Additional cosponsors include Senators Susan Collins (R-Maine), Maggie Hassan (D-N.H.), James Lankford (R-Okla.), Patty Murray (D-Wash.), Lisa Murkowski (R-Alaska), Sheldon Whitehouse (D-R.I.), and Rick Scott (R-Fla.).
    The SSI Savings Penalty Elimination Act has the support of more than 200 businesses, faith-based groups, and organizations dedicated to improving the lives of older adults and people with disabilities, including: the AARP, the Autism Society of America, the Aspen Institute Financial Security Program, the Jewish Federations of North America, Microsoft, the National Council on Aging, the National Council on Independent Living, the National Down Syndrome Congress, Justice in Aging, the Arc of the United States, Bipartisan Policy Center (BPC) Action, the National Association of Evangelicals, the United States Conference of Catholic Bishops, and the U.S. Chamber of Commerce.
    Read the full bill here.
    Senator Cortez Masto has continually worked to make sure that Social Security and other government benefits efficiently function for America’s seniors and individuals with disabilities. Last Congress, the Senator helped pass the Social Security Fairness Act, bipartisan legislation supported to restore full Social Security benefits to thousands of retired law enforcement officers, firefighters, teachers, and other public servants. Cortez Masto also supports the bipartisan Veterans’ Compensation Cost-of-Living Adjustment Act, which would increase the rates of compensation for veterans with service-connected disabilities and military survivors under the Department of Veterans Affairs to ensure benefits keep up with the rising cost of living.
    “SSI’s $2,000 asset limit has been frozen in time since 1989. In today’s economy, that means SSI beneficiaries can’t save for necessary expenses like a security deposit or car repairs without the risk of losing their benefits. There’s also an outdated and unjust marriage penalty baked into the SSI asset limit that cuts the amount of money beneficiaries are allowed to save by 25% if they marry the person they love. We strongly endorse the bipartisan SSI Savings Penalty Elimination Act because it will give Americans with disabilities more freedom to build the futures they want and deserve,” said Darcy Milburn, Director of Social Security and Healthcare Policy, The Arc of the United States.
    “Supplemental Security Income’s asset rules have been frozen since the 1980s and prevent disabled Americans from participating in everyday life, whether it be tying the knot to a long-term partner or putting a financial nest egg away. Raising the program’s resource limits will help eliminate work and marriage penalties and limit accidental overpayments. The Niskanen Center supports this pro-savings, pro-family legislative effort by Senators Cortez Masto, Cassidy, and their colleagues,” said Will Raderman, Employment Policy Analyst, Niskanen Center.
    “JPMorganChase, like many companies, wants to attract and retain the very best qualified people of all abilities. We applaud the bipartisan reintroduction of the SSI Savings Penalty Elimination Act, whichwould make common sense updates to the outdated rules for SSI benefits to reflect current economic conditions and keep pace with inflation,” said Bryan Gill, Global Head of the Office of Disability Affairs, JPMorganChase.
    “The U.S. Chamber of Commerce would like to thank Senators Cortez Masto and Cassidy and Representatives Davis and Fitzpatrick for their leadership in reintroducing the SSI Savings Penalty Elimination Act, which would help employers fill many open jobs with older, experienced American workers who wish to stay in the workforce by raising the current asset limits for Supplemental Security Income program eligibility,” said Chantel Sheaks, Vice President of Retirement Policy, U.S. Chamber of Commerce.
    “SSI’s outdated asset limits have prevented older Americans and those with disabilities from being able to save even a small amount for an emergency or to have a modicum of economic security as they age, without the risk of losing vital benefits. Americans should not be prevented from saving a few dollars for unforeseen circumstances, and SSI beneficiaries are no exception. It is long-past time for Congress to update SSI’s asset limits, which have become overly restrictive and prevent the accumulation of even a small amount of personal savings. AARP therefore urges Congress to pass your SSI Savings Penalty Elimination Act as soon as possible,” said Bill Sweeney, Senior Vice President, AARP Government Affairs.
    “Current policy imposes a difficult choice on Americans living with disabilities: spend their money now or lose access to essential support. This is nonsensical and denies some people the ability to save for future needs and opportunities. The SSI savings limit is long overdue for reform. A big thank you to the senators and representatives who are leading the way to a more humane policy,” said Galen Carey, Vice President of Government Relations, National Association of Evangelicals.
    “The SSI Savings Penalty Elimination Act will update asset limits for Supplemental Security Income and remove outdated barriers that restrict economic opportunity and hinder workforce participation. We thank Senators Cortez Masto and Cassidy and Representatives Davis and Fitzpatrick, for championing this bipartisan legislation that will help broaden America’s workforce, bolster supply chains, and support disabled workers,” said Rylin Rodgers, Disability Policy Director, Microsoft.
    “BPC Action commends this effort by Sens. Cortez Masto (D-NV) and Cassidy (R-LA) and Representatives Davis (D-IL) and Fitzpatrick (R-PA)  and urges Congress to act on long-overdue bipartisan measures to empower seniors and Americans with disabilities enrolled in Supplemental Security Income to increase their household savings,” said Michele Stockwell, President, Bipartisan Policy Center Action.
    “A core component of the nation’s Social Security system, SSI is nothing short of a lifeline for more than 7 million of the nation’s poorest seniors and disabled people, including more than one million disabled children. But because it’s been left to wither on the vine for decades, with key eligibility criteria never updated even for inflation, outdated savings limits now trap millions in poverty — even though SSI was established to offer a pathway out. Senators Cortez Masto, Cassidy, and Wyden and Reps. Davis and Fitzpatrick are to be commended for their bipartisan leadership on the SSI Savings Penalty Elimination Act — important legislation that would bring long overdue reform to one of the most regressive anti-savings policies on the books today. Even at a time of historic polarization, updating SSI’s asset limits is one issue Americans across the political spectrum can agree on — and the time is now to act,”said Rebecca Vallas, CEO, National Academy of Social Insurance. 

    MIL OSI USA News –

  • MIL-OSI Europe: MOTION FOR A RESOLUTION immediate risk of further repression by Lukashenka’s regime in Belarus – threats from the Investigative Committee – B10-0223/2025

    Source: European Parliament

    with request for inclusion in the agenda for a debate on cases of breaches of human rights, democracy and the rule of law

    Adam Bielan, Małgorzata Gosiewska, Mariusz Kamiński, Michał Dworczyk, Maciej Wąsik, Sebastian Tynkkynen, Ondřej Krutílek, Veronika Vrecionová, Alexandr Vondra, Assita Kanko, Aurelijus Veryga, Rihards Kols, Joachim Stanisław Brudziński, Ivaylo Valchev, Roberts Zīle
    on behalf of the ECR Group

    NB: This motion for a resolution is available in the original language only.

    B10‑0223/2025

    Motion for a European Parliament resolution on Immediate risk of further repression by Lukashenka’s regime in Belarus – threats from the Investigative Committee

    (2025/2629(RSP))

    The European Parliament,

    – having regard to its previous resolutions on the situation in Belarus,

     

    – having regard to Rule 150 of its Rules of Procedure,

     

    A. whereas the Lukashenka regime has intensified its campaign of repression against citizens who oppose the dictatorship;

     

    B. whereas three Belarusian women — Viktoryia Kulsha, Volha Mayorava and Alena Hnauk remain imprisoned under inhuman conditions, including incommunicado detention, denial of access to lawyers, family, medical care, and basic humanitarian aid, facing constant psychological pressure and fabricated disciplinary charges;

     

    C. whereas the health of all three women has significantly deteriorated, while Viktoryia Kulsha is on the verge of death after multiple suicide attempts, prolonged hunger strikes and torture;

     

    D. whereas on 25 March 2025 four years passed since the latest arrest of Polish-Belarusian journalist Andrzej Poczobut, who has faced repeated detentions since 2011 and is currently subjected to an additional punishment;

     

    E. whereas threats by Investigative Committee of Belarus indicate that the regime now seeks to export repression beyond Belarusian borders by targeting Belarusians in exile with criminal charges for their peaceful, pro-democratic actions;

     

    1. Condemns in the strongest terms the persecution of Belarusian citizens for their peaceful democratic activities abroad, which is an infringement upon the sovereignty of the countries in which these individuals now reside;

     

    2. Demands the immediate and unconditional release and full rehabilitation of all political prisoners in Belarus, including Viktoryia Kulsha, Volha Mayorava, and Alena Hnauk; calls on the EU and international partners to recognize their cases as emblematic of the regime’s crimes against humanity and act urgently to protect their lives;

     

    3. Calls for the immediate and unconditional release of Andrzej Poczobut and urges the European Union to intensify diplomatic and legal pressure on the Belarusian regime to ensure his safety and freedom.

     

    4. Calls on the EU authorities and Member States to impose targeted sanctions, including travel bans and asset freezes, against all officials of the Investigative Committee of Belarus and other institutions involved in the transnational repression of Belarusian citizens.

     

    5. Appeals to the International Criminal Court to expedite proceedings on crimes against humanity committed by the Lukashenka regime and to issue arrest warrants for individuals whose involvement has been substantiated.

     

    6. Expresses unwavering support for the Belarusian democratic community in exile, which has shown institutional resilience and effectiveness in raising international awareness and defending democratic values;

     

    7. Underlines the need to remain vigilant against potential provocations and acts of repression orchestrated by the Belarusian regime within EU borders, particularly in cooperation with Russian security services;

     

    8. Urges the EU and its Member States to strengthen support for Belarusians in exile by simplifying procedures for legalization and residence within EU states, supporting independent Belarusian media and maintaining access to free information, preserving the cultural, national, and linguistic identity of the Belarusian diaspora;

     

    9.  Instructs its President to forward this resolution to the High Representative of the Union for Foreign Affairs and Security Policy, the Council, representatives of the Belarusian democratic forces and the Belarusian de facto authorities.

     

     

    MIL OSI Europe News –

  • MIL-OSI Europe: MOTION FOR A RESOLUTION Immediate risk of further repression by Lukashenka’s regime in Belarus – threats from the Investigative Committee – B10-0219/2025

    Source: European Parliament

    with request for inclusion in the agenda for a debate on cases of breaches of human rights, democracy and the rule of law
    pursuant to Rule 150 of the Rules of Procedure

    Mārtiņš Staķis, Maria Ohisalo, Mounir Satouri, Lena Schilling, Markéta Gregorová, Catarina Vieira, Nicolae Ştefănuță, Ville Niinistö, Sergey Lagodinsky
    on behalf of the Verts/ALE Group

    NB: This motion for a resolution is available in the original language only.

    Document selected :  

    B10-0219/2025

    Texts tabled :

    B10-0219/2025

    Texts adopted :

    B10‑0219/2025

    Motion for a European Parliament resolution on Immediate risk of further repression by Lukashenka’s regime in Belarus – threats from the Investigative Committee

    (2025/2629(RSP))

    The European Parliament,

    – having regard to its previous resolutions on Belarus,

    – having regard to Rule 144 of its Rules of Procedure,

    1. whereas the Belarusian authorities are scaling up practises of internal and transnational repression against its citizens; whereas the Investigative Committee is a preliminary inquiry body that reports directly to Lukashenka; whereas in 2024, legislative amendments granted the Investigative Committee access to the personal data of Belarusians without their consent;
    2. whereas the Investigative Committee has opened “special proceedings” against hundreds of Belarusians in exile, including 104 persons who had rallied in different European cities and 257 participants who had run in the elections to the Coordination Council in exile; whereas they were charged under various articles of the Criminal Code for discrediting Belarus, conspiring to seize State power, creating an extremist group, among others;
    3. whereas the UN Group of Independent Experts on the Situation of Human Rights in Belarus have stated in its 7 February 2025 report that the Belarusian authorities continue to rely on arbitrary arrests and detentions, accompanied by torture or ill-treatment, as its primary method of repressing society; whereas they also note that the thousands of Belarusians arrested and tried on politically motivated grounds are systematically subjected to a separate and harsher regime of detention designed to punish and humiliate them;
    4. whereas the Office of the UN High Commissioner for Human Rights (OHCHR) has reported evidence for crimes against humanity committed by the Lukashenka regime, specifically in the context of unlawful imprisonment and persecution;

     

    1. Continues to stand in unwavering solidarity with the people of Belarus and demands the immediate and unconditional release and effective rehabilitation of all political prisoners;
    2. Condemns the Belarusian authorities for its policy of transnational repression against its citizens abroad; deplores the “special proceedings” by the Investigative Committee targeting Belarusians in exile and considers them clear examples of transnational repression by the Belarusian authorities;
    3. Calls on the EU and Member States to swiftly step up efforts to support and protect Belarusians in exile in the EU and those looking to flee Belarus; reiterates its call on the Commission and Member States to simplify the procedures for obtaining visas, residence permits and provisional identification documents for those fleeing Belarus for political reasons; calls on the EU and Member States to prepare procedures to deal with cases of statelessness of Belarusians in the EU who cannot return to Belarus to renew identity documents;
    4. Welcomes the work of the UN Group of Independent Experts on the Human Rights situation in Belarus and supports the recommendations from its recent report; echoes the recommendation by OHCHR for UN Member States to consider working towards accountability through national proceedings, based on accepted principles of extraterritorial and universal jurisdiction, consistent with international due process;
    5. Instructs its President to forward this resolution to the VP/HR, the Council, the Commission, the governments and parliaments of the Member States, OHCHR, the representatives of the Belarusian democratic forces and the authorities of Belarus.

     

     

    Last updated: 1 April 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: MOTION FOR A RESOLUTION Immediate risk of further repression by Lukashenka’s regime in Belarus: threats from the Investigative Committee – B10-0218/2025

    Source: European Parliament

    with request for inclusion in the agenda for a debate on cases of breaches of human rights, democracy and the rule of law
    pursuant to Rule 150 of the Rules of Procedure

    Merja Kyllönen
    on behalf of The Left Group

    NB: This motion for a resolution is available in the original language only.

    Document selected :  

    B10-0218/2025

    Texts tabled :

    B10-0218/2025

    Texts adopted :

    B10‑0218/2025

    Motion for a European Parliament resolution on Immediate risk of further repression by Lukashenka’s regime in Belarus: threats from the Investigative Committee

    (2025/2629(RSP))

    The European Parliament,

    –  having regard to its previous resolutions on Belarus,

    –  having regard to Rules 150(5) of its Rules of Procedure,

     

    1. whereas political opposition figures, activists and independent journalists face systematic harassment, imprisonment and intimidation in Belarus;
    2. whereas ahead of the January elections, the Belarusian Investigative Committee intensified action against opposition figures, opening criminal cases against 45 activists, 22 accused of conspiring to seize power and 23 of forming extremist groups, with penalties of up to 12 years in prison;
    3. whereas Committee statements in January and March 2025 suggest expanded surveillance and threats against Belarusians abroad, particularly those involved in protests or Freedom Day on 25 March
    4. whereas the regime’s labeling of opposition as extremist or terrorist is widely condemned as misuse of law to stifle dissent; whereas UN experts note these practices purge civic space and suppress free expression in Belarus;

     

    1. whereas elections in Belarus have consistently failed to meet international standards of transparency, fairness and democratic legitimacy, as highlighted by independent observers and the OSCE;

     

    1. whereas Aliaksandr Lukashenka has been in power continuously for over 30 years, an almost unique case in contemporary Europe;
    2. whereas Belarusian state media continues to dominate the information landscape, with outlets like BELTA providing government-aligned news and perspectives.

     

     

    1. Condemns the continuing oppression of the Belarusian people by the Lukashenka regime, including widespread human rights violations and political repression;
    2. Calls for the immediate and unconditional release of all political prisoners, activists, journalists and trade unionists, including Volha Brytsikava and Aliaksandr Kapshul;
    3. Urges the EU Delegation and Member State embassies to monitor political trials and support prisoners’ relative;
    4. Calls on the EU and the Member State to extend EU support to Belarusians living in exile who risk facing politically motivated charges by the Belarusian Investigative Committee, including by providing political, financial and legal assistance;
    5. Condemns the regime’s violation of the right to freedom of association; calls on all opposition forces to undertake to respect the ILO Conventions, in particular Conventions Nos 87 and 98, and Article 33 of the ILO Constitution;
    6. Is deeply alarmed by the UN report detailing ill-treatment, including beatings, electric shocks and threats of rape in jail; reiterates its calls on the Belarusian authorities to respect detainees’ rights, provide medical care and grant access to lawyers, families, and international organisations;
    7. Reiterates its call for the EU and its Member States to to ease visa access and support rehabilitation for those fleeing Belarus;
    8. Reiterates its solidarity with the Belarusian people in their struggle for democracy, human rights and the rule of law;
    9. Is alarmed by the abuse of counter terrorist legislation as a means of intimidation and threats in many regimes throughout the globe;
    10. Instructs its President to forward this resolution to the Council, the Commission, the VP/HR, Member States and the and the Belarusian authorities.

     

     

     

    Last updated: 1 April 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: MOTION FOR A RESOLUTION the immediate risk of further repression by Lukashenka’s regime in Belarus: threats from the investigative Committee – B10-0229/2025

    Source: European Parliament

    with request for inclusion in the agenda for a debate on cases of breaches of human rights, democracy and the rule of law
    pursuant to Rule 150 of the Rules of Procedure

    Sebastião Bugalho, Miriam Lexmann, Michael Gahler, Isabel Wiseler‑Lima, Michał Wawrykiewicz, Tomas Tobé, Dariusz Joński, Luděk Niedermayer, Seán Kelly, Vangelis Meimarakis, Andrey Kovatchev, Wouter Beke, Danuše Nerudová, Loránt Vincze, Jessica Polfjärd, Sandra Kalniete, Łukasz Kohut, Antonio López‑Istúriz White, Tomáš Zdechovský, Inese Vaidere
    on behalf of the PPE Group

    NB: This motion for a resolution is available in the original language only.

    B10‑0229/2025

    Motion for a European Parliament resolution on the immediate risk of further repression by Lukashenka’s regime in Belarus: threats from the investigative Committee

    (2025/2629(RSP))

    The European Parliament,

    –  having regard to its previous resolutions on Belarus,

    –  having regard to Rule 150(5) of its Rules of Procedure,

    1. whereas, the EU does not recognize the fraudulent Belarusian presidential election of January 26, 2025, and deems the detention of political prisoners unacceptable; whereas Belarus’s complicity in the war in Ukraine further undermines its commitment to international peace and human rights;
    2. whereas the Lukashenka regime expands its repression beyond Belarus, targeting Belarusians abroad with surveillance, threats, and prosecutions; whereas official statements by the Investigative Committee of Belarus in January and March 2025 confirm escalating transnational repression, particularly against Freedom Day participants; whereas the regime monitors Belarusians abroad, identifying over 100 individuals linked to the Coordination Council as suspects; whereas since August 2020, the Investigative Committee labelled nearly 19,000 acts as “extremist-related crimes” while denying police violence in 2020, reflecting a systematic effort to silence dissent and dismantle opposition through intimidation and legal persecution;
    1. Strongly condemns the continued expansion of repression by the Lukashenka regime, which now targets Belarusians abroad with criminal prosecution, asset seizures, and other measures designed to silence dissent;
    2. Denounces the deployment of judicial instruments as tools of repression by the Belarusian Investigative Committee, which seeks to criminalize peaceful participation in pro-democracy demonstrations and intimidate both the participants and their families through pervasive surveillance and legal threats;
    3. Condemns the systematic violation of international human rights norms ­  including the rights to freedom of assembly, expression, and political participation ­  as guaranteed by the Universal Declaration of Human Rights and reinforced by the International Covenant on Civil and Political Rights;
    4. Demands an immediate cessation of repression against Belarusians within Belarus and abroad, including politically motivated charges, asset seizures, and surveillance of exiles and demonstrators, and calls for the release of all political prisoners;
    5. Stresses the need for the EU and its member states to maintain public scrutiny over Belarus’ imprisonment of individuals for politically motivated charges and the targeting of their relatives, by using all public channels at their disposal to increase the visibility and names of individuals imprisoned or detained for political reasons; calls to expand and enforce targeted sanctions against Belarusian officials responsible for transnational repression;
    6. Calls on the EU and its member states to strengthen legal protections and visa access for Belarusian exiles, pro-democracy activists, and those fleeing persecution;  urges to ensure a coordinated EU response to support Belarusian citizens with expired passports who face the risk of human rights violations upon return;
    7. Calls on the EU and its member states to maintain and expand their financial, technical, and political support for independent civil society activists, journalists, lawyers, and human rights defenders operating both within Belarus and in exile; urges to continue monitoring and documenting their trials;
    8. Instructs its President to forward this resolution to the VP/HR, the Council, the Commission, the governments and parliaments of the Member States, the representatives of the Belarusian democratic forces and the de facto Belarusian authorities.  

     

     

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