NewzIntel.com

Category: Finance

  • MIL-OSI USA: Federal Jury Convicts Florida Resident for Operating Mass Mailing Fraud Scheme Targeting Elderly and Vulnerable Victims

    Source: US State Government of Utah

    A federal jury in Central Islip, New York, convicted Hallandale Beach, Florida resident Phillip Priolo, 61, of conspiracy to commit mail fraud and four counts of mail fraud.

    In November 2021, Priolo was charged with operating a mass mailing fraud scheme that tricked thousands of victims, many of whom were elderly, into providing the defendants with money by falsely promising prizes. Evidence presented at trial showed that, from March 2015 to December 2016, Priolo and his co-conspirators mailed millions of prize notices that falsely represented that the victims had been specifically chosen to receive a large cash prize and would receive the prize if they paid a fee. Victims who paid the requested fee, however, did not receive the promised cash prize. Although the notices appeared to be personalized correspondence, they were merely mass-produced, boilerplate documents that were bulk mailed to recipients whose names and addresses were on mailing lists.

    “The Department of Justice’s Consumer Protection Branch is committed to pursuing criminals who prey upon our elder citizens through fraudulent schemes like fake prize scams,” said Acting Assistant Attorney General Yaakov Roth of the Justice Department’s Civil Division. “I thank the Postal Inspection Service for their partnership in this matter and for conducting a thorough and successful investigation.”

    “Here, the defendant targeted and defrauded older individuals, the most vulnerable of populations, through a mass-mailing scheme,” said Inspector in Charge Eric Shen of the U.S. Postal Inspection Service’s Criminal Investigations Group. “The U.S. Postal Inspection Service is deeply committed to protecting older Americans from fraudulent schemes. This conviction underscores the Postal Inspection Service’s and the Department of Justice’s dedication and determination to keep susceptible communities safe from financial exploitation and bring criminals to justice.”

    Priolo will be scheduled for sentencing later this year, in Central Islip before U.S. District Judge Nusrat Jahan Choudhury of the Eastern District of New York. The defendant faces a maximum penalty of 20 years in prison for each count of conviction. The court will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    The trial resulted from a multi-year investigation conducted by the U.S. Postal Inspection Service. The case is being prosecuted by trial attorneys Charles Dunn, Ann Entwistle, and Jason Feldman of the Civil Division’s Consumer Protection Branch.

    The department’s extensive and broad-based efforts to combat elder fraud seeks to halt the widespread losses seniors suffer from fraud schemes. The best method for prevention, however, is by sharing information about the various types of elder fraud schemes with relatives, friends, neighbors and other seniors who can use that information to protect themselves.

    If you or someone you know is age 60 or older and has been a victim of financial fraud, help is standing by at the National Elder Fraud Hotline: 1-833-FRAUD-11 (1-833-372-8311). This U.S. Department of Justice hotline, managed by the Office for Victims of Crime, is staffed by experienced professionals who provide personalized support to callers by assessing the needs of the victim and identifying relevant next steps. Case managers will identify appropriate reporting agencies, provide information to callers to assist them in reporting, connect callers directly with appropriate agencies, and provide resources and referrals, on a case-by-case basis. Reporting is the first step. Reporting can help authorities identify those who commit fraud and reporting certain financial losses due to fraud as soon as possible can increase the likelihood of recovering losses. The hotline is open Monday through Friday from 10:00 a.m. to 6:00 p.m. ET. English, Spanish and other languages are available.

    More information about the Department’s efforts to help American seniors is available at its Elder Justice Initiative webpage. For more information about the Consumer Protection Branch and its enforcement efforts, visit its website at www.justice.gov/civil/consumer-protection-branch. Elder fraud complaints may be filed with the FTC at https://reportfraud.ftc.gov. The Department of Justice provides a variety of resources relating to elder fraud victimization through its Office for Victims of Crime, which can be reached at www.ovc.gov.

    MIL OSI USA News –

  • MIL-OSI Security: Michigan Man Pleads Guilty to Drug Distribution and Loan Fraud

    Source: Office of United States Attorneys

    BOSTON – A Michigan man pleaded guilty in federal court in Boston to a conspiracy to import and sell illegal pharmaceuticals, including opioids, and to fund the operation of the scheme by fraudulently obtaining a COVID-19 pandemic relief loan.

    Donald Nchamukong, 37, pleaded guilty to conspiracy to smuggle goods into the United States, to commit loan fraud and to distribute controlled substances. U.S. District Court Judge Nathaniel M. Gorton scheduled sentencing for June 25, 2025.

    Starting in 2019 and continuing to 2022, Nchamukong and a co-conspirator, Doyal Kalita, conspired to distribute drugs to persons in the United States over the internet and using call centers in India. Nchamukong used shell companies, including a purported dietary supplements company and an auto parts supplier, and associated bank and merchant accounts to process sales of illegal foreign drugs, including the Schedule IV opioid, tramadol. Nchamukong and Kalita also received shipments of tramadol from India and reshipped the drug to customers across the United States, including in Massachusetts. When the COVID-19 pandemic hit, Nchamukong and Kalita fraudulently obtained a $200,000 Economic Injury Disaster Loan to fund their illegal drug scheme.  

    Kalita was convicted in 2024 and sentenced to 10 years in prison for orchestrating the online drug distribution scheme and a technical support fraud scheme and related money laundering.

    The charge of conspiracy provides for a sentence of up to five years in prison, three years of supervised release and a fine of up to $250,000, or twice the monetary gain or loss, whichever is greater. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

    United States Attorney Leah B. Foley; Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division; Thomas Demeo, Acting Special Agent in Charge of the Internal Revenue Service Criminal Investigation, Boston Field Office; and Fernando P. McMillan, Special Agent in Charge of the New York Field Office of the U.S. Food and Drug Administration, Office of Criminal Investigations made the announcement today. Valuable assistance was provided by Homeland Security Investigations in New York, Small Business Administration and the United States Attorney’s Office for the Eastern District of New York. Assistant U.S. Attorney Kriss Basil, Deputy Chief of the Securities, Financial, and Cyber Fraud Unit, is prosecuting the case.

    On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the department’s response to the pandemic, please visit https://www.justice.gov/coronavirus and https://www.justice.gov/coronavirus/combatingfraud.

    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline via the NCDF Web Complaint Form.

    MIL Security OSI –

  • MIL-OSI Security: U.S. Marshals Arrest Cedar Rapids Homicide Suspect

    Source: US Marshals Service

    Cedar Rapids, IA – U.S. Marshals today arrested a man in Nevada who is wanted on several charges in Iowa. 

    Donnie Danell White, 51, is wanted in connection to a deceased individual found in southwest Cedar Rapids. White is wanted in Linn County on charges of murder in the first-degree and nonconsensual termination of pregnancy.     

    On March 14 investigators with the Cedar Rapids Police Department contacted the Northern Iowa Fugitive Task Force requesting assistance in the location and apprehension of White. Task Force officers began to follow up on leads throughout Cedar Rapids and developed information indicating White had fled the state following the murder.  Officials began coordinating with the U.S. Marshals Nevada Violent Offender Task Force. 

    Officers with the Nevada Violent Offender Task Force today narrowed their search to an area in the 2900 block of West Washington Avenue in Las Vegas.  U.S. Marshals approached the suspect shortly after 3 p.m. and White eventually surrendered to the Nevada Violent Offender Task Force.  White was arrested without incident and transported for processing.  He will remain in custody until extradition to Iowa.

    The U.S. Marshals Service is the federal government’s primary agency for fugitive investigations. Nationwide, 60 local task forces are dedicated to violent crime reduction by locating and apprehending wanted criminals. These task forces also serve as the central point for agencies to share information on fugitive matters. The Northern Iowa Fugitive Task Force is comprised of officers from the U.S. Marshals Service, U.S. Immigration and Customs Enforcement, Cedar Rapids Police Department, Waterloo Police Department, Marion Police Department, the Iowa Division of Criminal Investigation, and the Iowa Department of Corrections.

    MIL Security OSI –

  • MIL-OSI Security: Federal Jury Convicts Florida Resident for Operating Mass Mailing Fraud Scheme Targeting Elderly and Vulnerable Victims

    Source: United States Attorneys General 6

    A federal jury in Central Islip, New York, convicted Hallandale Beach, Florida resident Phillip Priolo, 61, of conspiracy to commit mail fraud and four counts of mail fraud.

    In November 2021, Priolo was charged with operating a mass mailing fraud scheme that tricked thousands of victims, many of whom were elderly, into providing the defendants with money by falsely promising prizes. Evidence presented at trial showed that, from March 2015 to December 2016, Priolo and his co-conspirators mailed millions of prize notices that falsely represented that the victims had been specifically chosen to receive a large cash prize and would receive the prize if they paid a fee. Victims who paid the requested fee, however, did not receive the promised cash prize. Although the notices appeared to be personalized correspondence, they were merely mass-produced, boilerplate documents that were bulk mailed to recipients whose names and addresses were on mailing lists.

    “The Department of Justice’s Consumer Protection Branch is committed to pursuing criminals who prey upon our elder citizens through fraudulent schemes like fake prize scams,” said Acting Assistant Attorney General Yaakov Roth of the Justice Department’s Civil Division. “I thank the Postal Inspection Service for their partnership in this matter and for conducting a thorough and successful investigation.”

    “Here, the defendant targeted and defrauded older individuals, the most vulnerable of populations, through a mass-mailing scheme,” said Inspector in Charge Eric Shen of the U.S. Postal Inspection Service’s Criminal Investigations Group. “The U.S. Postal Inspection Service is deeply committed to protecting older Americans from fraudulent schemes. This conviction underscores the Postal Inspection Service’s and the Department of Justice’s dedication and determination to keep susceptible communities safe from financial exploitation and bring criminals to justice.”

    Priolo will be scheduled for sentencing later this year, in Central Islip before U.S. District Judge Nusrat Jahan Choudhury of the Eastern District of New York. The defendant faces a maximum penalty of 20 years in prison for each count of conviction. The court will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    The trial resulted from a multi-year investigation conducted by the U.S. Postal Inspection Service. The case is being prosecuted by trial attorneys Charles Dunn, Ann Entwistle, and Jason Feldman of the Civil Division’s Consumer Protection Branch.

    The department’s extensive and broad-based efforts to combat elder fraud seeks to halt the widespread losses seniors suffer from fraud schemes. The best method for prevention, however, is by sharing information about the various types of elder fraud schemes with relatives, friends, neighbors and other seniors who can use that information to protect themselves.

    If you or someone you know is age 60 or older and has been a victim of financial fraud, help is standing by at the National Elder Fraud Hotline: 1-833-FRAUD-11 (1-833-372-8311). This U.S. Department of Justice hotline, managed by the Office for Victims of Crime, is staffed by experienced professionals who provide personalized support to callers by assessing the needs of the victim and identifying relevant next steps. Case managers will identify appropriate reporting agencies, provide information to callers to assist them in reporting, connect callers directly with appropriate agencies, and provide resources and referrals, on a case-by-case basis. Reporting is the first step. Reporting can help authorities identify those who commit fraud and reporting certain financial losses due to fraud as soon as possible can increase the likelihood of recovering losses. The hotline is open Monday through Friday from 10:00 a.m. to 6:00 p.m. ET. English, Spanish and other languages are available.

    More information about the Department’s efforts to help American seniors is available at its Elder Justice Initiative webpage. For more information about the Consumer Protection Branch and its enforcement efforts, visit its website at www.justice.gov/civil/consumer-protection-branch. Elder fraud complaints may be filed with the FTC at https://reportfraud.ftc.gov. The Department of Justice provides a variety of resources relating to elder fraud victimization through its Office for Victims of Crime, which can be reached at www.ovc.gov.

    MIL Security OSI –

  • MIL-OSI Security: Court Sentences Hino Motors Ltd., a Toyota Subsidiary, and Imposes Over $1.6B in Penalties for Emissions Fraud Scheme

    Source: United States Attorneys General 7

    Note: View plea agreement here. View criminal information here.

    Today, U.S. District Court Judge Mark A. Goldsmith for the Eastern District of Michigan accepted Hino Motors, Ltd.’s guilty plea to a one-count criminal information charging it with having engaged in a multi-year criminal conspiracy to defraud both the U.S. government and American consumers and illicitly smuggle goods into the country. Judge Goldsmith also sentenced Hino, a Toyota subsidiary, to pay a criminal fine of $521.76 million, serve a five-year term of probation — during which it is prohibited from importing any diesel engines it has manufactured into the United States — and implement a comprehensive compliance and ethics program and reporting structure. The court also entered a $1.087 billion forfeiture money judgment against the company.

    According to court records, between 2010 and 2019, Hino Motors, Ltd. engineers submitted and caused to be submitted false applications for engine certification approvals in violation of the federal Clean Air Act. Hino Motors, Ltd. engineers regularly altered emission test data, conducted tests improperly and fabricated data without conducting any underlying tests. The engineers also submitted fraudulent carbon dioxide emissions test data, which resulted in false fuel consumption values being calculated for its engines, and failed to disclose software functions that could adversely affect engines’ emission control systems. As a result of the fraud, Hino Motors, Ltd. imported and sold over 105,000 non-conforming engines between 2010 and 2022. These engines were primarily installed in heavy-duty trucks manufactured and sold by Hino nationwide.

    “Hino unlawfully imported over 105,000 engines that did not comply with U.S. emissions standards and lied about what it was doing. Hino’s criminal conduct gave it an unfair business advantage over other law-abiding companies, including American companies, and generated over $1 billion in gross proceeds,” said Acting Assistant Attorney General Adam Gustafson of the Justice Department’s Environment and Natural Resources Division (ENRD). “We are committed to upholding the rule of law by prosecuting fraud and enforcing our Clean Air Act emissions standards.”

    “Our office is steadfast in its commitment to holding corporate actors accountable when they lie to government regulators, illicitly smuggle goods into our county, and then fraudulently sell those goods to American consumers,” said Acting U.S. Attorney Julie Beck for the Eastern District of Michigan.

    “Hino falsely certified compliance with the Clean Air Act so that it could profit off Americans by sending illegal, polluting engines into the United States,” said Acting Assistant Administrator Jeffrey Hall for EPA’s Office of Enforcement and Compliance Assurance. “Today’s plea and sentencing demonstrates that companies who intentionally evade our nation’s environmental laws, including by fabricating data to feign compliance with those laws, deserve punishment and will be held criminally accountable.”

    “By pleading guilty, Hino Motors, Ltd. has admitted to orchestrating a deliberate and years-long fraud scheme that put profit over principle,” said Acting Assistant Director James C. Barnacle Jr. of the FBI’s Criminal Investigative Division “It doesn’t matter how complex the scheme is, the FBI is committed to holding individuals and organizations responsible for their actions.”

    Special agents of EPA’s Criminal Investigation Division and FBI’s Detroit Field Office investigated the criminal case.

    Senior Trial Attorney Banumathi Rangarajan of ENRD’s Environmental Crimes Section and Assistant U.S. Attorney Andrew J. Yahkind for the Eastern District of Michigan handled the criminal prosecution. Assistant U.S. Attorney Gjon Juncaj handled the criminal forfeiture matters. 

    MIL Security OSI –

  • MIL-OSI Security: Littleton Man Sentenced To Federal Prison For False Tax Return Preparation

    Source: Office of United States Attorneys

    DENVER — The U.S. Attorney’s Office for the District of Colorado announces Thuan Bui, 60, of Littleton, Colorado, was sentenced to the statutory maximum of 36 months in federal prison, one year of supervised release, and a $50,000 fine, after pleading guilty to one count of aiding or assisting in preparation of false documents.

    According to the plea agreement, from about 2016 to 2021, Bui operated a tax preparation business that operated under several names. Bui falsely told his clients he was a certified public accountant. During that time, and on hundreds of tax returns, Bui understated his clients’ tax liability by overstating or falsely creating expenses on the Schedule C form which is used to report income or loss on a business.

    “This defendant willfully and repeatedly abused his clients’ trust when his job was to  help them accurately file their annual tax returns,” said Acting United States Attorney J. Bishop Grewell. “I encourage all taxpayers to be vigilant during the ongoing tax season to make sure their information is captured and reported accurately.”

    “Tax preparers are entrusted to file accurate and truthful tax returns on behalf of their clients to ensure they are meeting their tax obligations,” said Amanda Prestegard, Special Agent in Charge, IRS-Criminal Investigations Denver Field Office. “Bui violated that trust and federal tax laws in the process. Identifying these fraudulent preparers remains a top priority for IRS-CI and we will continue holding them accountable.”

    United States District Court Judge Regina M. Rodriguez presided over the sentencing.

    The case was investigated by IRS-Criminal Investigation.  Assistant United States Attorney Rebecca Weber handled the prosecution.

    MIL Security OSI –

  • MIL-OSI Security: Leader of Multi-Year “Operation Fox Hunt” Repatriation Campaign Directed by the People’s Republic of China Sentenced to 20 Months in Prison

    Source: Office of United States Attorneys

    Defendant Repeatedly Harassed U.S. Resident and His Family to Coerce Repatriation to the PRC

    BROOKLYN, NY – Earlier today, in federal court in Brooklyn, defendant Quanzhong An was sentenced by United States District Judge Kiyo A. Matsumoto to 20 months in prison for acting as an illegal agent of the government of the People’s Republic of China (the “PRC”), for his participation in a scheme to cause the coerced repatriation of a U.S. resident (the “U.S. Resident”) to the PRC as part of its international extralegal repatriation effort known as “Operation Fox Hunt.”  In addition to the term of imprisonment, Judge Matsumoto ordered An to pay a financial penalty of approximately $5 million, including approximately $1.3 million in restitution to the U.S. Resident and his family, as well as a $50,000 fine.  An pleaded guilty in May 2024 and was charged in October 2022.

    John J. Durham, United States Attorney for the Eastern District of New York, Sue Bai, Supervisory Official and head of the Justice Department’s National Security Division and Leslie R. Backschies, Acting Assistant Director in Charge, Federal Bureau of Investigation, New York Field Office (“FBI”) announced the sentences.

    “Quanzhong An acted at the direction of the PRC government to harass and intimidate individuals living on U.S. soil as part of a pernicious scheme to force their repatriation to the PRC,” stated United States Attorney Durham.  “Thanks to our collective efforts, the scheme failed, and the defendant has been brought to justice.  Our Office remains steadfast in its efforts to protect both U.S. national security interests and individuals living in our District from transnational repression schemes perpetrated by hostile foreign powers.”

    Mr. Durham expressed his appreciation to the Internal Revenue Service, Criminal Investigations for its work on the case.

    “For years, Quanzhong An threatened, harassed, and attempted to intimidate a U.S. resident and his family at the behest of the People’s Republic of China, with the ultimate goal of strong-arming the individual into leaving the United States and returning to China to face an unknown fate.  Today’s sentencing represents justice for this victim and his family, and demonstrates to others that the FBI is committed to protecting all victims of transnational repression,” stated FBI Acting Assistant Director in Charge Backschies.  “Threats, harassment, and intimidation – whether perpetrated by individuals or nation states – will not be tolerated in this country, and the FBI will continue to lead the charge to protect all individuals who are threatened and harassed on U.S. soil.”

    As set forth in the government’s sentencing memoranda and other court filings, An was a leading member of an international campaign to threaten, harass, and intimidate the U.S. Resident and his family members, with the goal of coercing the U.S. Resident to repatriate to the PRC.  An participated in the multi-year scheme to elevate his status within the PRC government as a means of furthering his own economic interests.

    An’s involvement in the repatriation scheme began in 2017, when he attempted to locate the U.S. Resident by visiting the home of the U.S. Resident’s adult son, without notice or invitation.  The following year, An sent his daughter, as well as two PRC government officials, to the home of the U.S. Resident’s son.  An subsequently met with the U.S. Resident’s son on numerous occasions, during which time An served as a mouthpiece for the PRC by conveying threatening messages on behalf of the PRC government.  For example, An said he did not want to pronounce “ruthless words” from the PRC government but stated that PRC officials would “keep pestering [the U.S. Resident’s son], [and] make [his] daily life uncomfortable” if the son was unable to convince his father to repatriate to the PRC.  An’s harassment continued unabated from 2017 until his arrest in 2022.  An’s conduct intimidated individuals living in the United States and their loved ones in the PRC – just as it was intended to do – for the benefit of the PRC government.

    At sentencing, Judge Matsumoto considered that An participated in additional criminal conduct.  Specifically, he perpetrated a bank fraud and money laundering scheme to defraud U.S. financial institutions so that he could enjoy continued access to U.S.-based bank accounts.  As part of this scheme, he moved millions of dollars from the PRC into the United States, deliberately deceiving U.S. financial institutions regarding the source and purpose of the funds.

    The FBI has created a website for victims to report efforts by foreign governments to stalk, intimidate, or assault people in the United States.  If you believe that you are or have been a victim of transnational repression, please visit https://www.fbi.gov/investigate/counterintelligence/transnational-repression.

    The government’s case is being handled by the Office’s National Security and Cybercrime Section. Assistant United States  Attorneys Alexander Solomon, Meredith A. Arfa, and Antoinette N. Rangel are in charge of the prosecution, with assistance from Trial Attorney Scott A. Claffee of the National Security Division’s Counterintelligence and Export Control Section.  Assistant United States Attorney Claire S. Kedeshian of the Office’s Asset Recovery Section is handling forfeiture matters and Assistant United States Attorneys Madeline O’Connor and Daniel Saavedra of the Office’s Financial Litigation Program are assisting with restitution matters.

    The Defendant:

    QUANZHONG AN
    Age: 58
    Roslyn Heights, New York

    E.D.N.Y. Docket No. 22-CR-460 (KAM)

    MIL Security OSI –

  • MIL-OSI Russia: IMF Executive Board Concludes 2023 Article IV Consultation with El Salvador

    Source: IMF – News in Russian

    March 19, 2025

    Washington, DC: On March 20, 2023, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with El Salvador.

    Despite a series of adverse external shocks, the Salvadoran economy has fared relatively well to date, and is estimated to have grown by 2.8 percent in 2022. Annual inflation jumped to 7¼ percent, mainly due to high global food prices while fuel price inflation was moderated by large subsidies. Vulnerabilities mounted, with international reserves falling below 2 months of imports. In the context of limited financing options, the fiscal deficit narrowed to 2½ percent of GDP, but fiscal policy is expected to turn expansionary in 2023. Under current policies, public debt is on an unsustainable path. 

    The economy is expected to grow by 2.4 percent in 2023, but the outlook is fragile, given the macroeconomic imbalances and a less favorable international environment. A comprehensive and credible policy package is urgently needed to put public debt on a firmly declining path and strengthen macroeconomic and financial stability.

    Over a year after the adoption of Bitcoin as legal tender, its use has been minimal but risks for financial and market integrity, financial stability, and consumer protection remain and need to be addressed. 

    Executive Board Assessment[2]

    Executive Directors noted the strong post‑pandemic recovery supported by the authorities’ timely responses to shocks and the improved security situation. Pointing to the fragile outlook amid rising risks and vulnerabilities, Directors urged the authorities to adopt a comprehensive plan to address macroeconomic imbalances, including unsustainable public debt and limited reserve coverage, along with structural reforms to support stronger, inclusive growth.

    Directors welcomed recent fiscal efforts but underscored the urgent need for an ambitious fiscal consolidation plan, based on greater revenue mobilization and efficiency of spending, including better targeting energy subsidies and social safety nets and rightsizing the wage bill. This is critical to put public debt on a firm downward trajectory and allow a gradual return to international capital markets. Restoring and upgrading the Fiscal Responsibility Law would also improve the transparency and credibility of fiscal policy. Directors stressed the importance of ensuring the sustainability of the pension system to limit contingent liabilities.

    Directors noted that the banking system remains healthy but cautioned against rising exposures to the sovereign and the erosion of liquidity buffers. They called for raising banks’ reserve requirements, enacting promptly the Financial Stability Bill, closing regulatory gaps, and continuing to implement the 2020 Safeguards Assessment recommendations.

    Directors underscored the importance of narrowing the scope of the Bitcoin law and removing Bitcoin’s legal tender status. They noted that while Bitcoin has had a minimal impact on financial inclusion, high risks to financial integrity and stability, fiscal sustainability, and consumer protection persist. Directors urged that Bitcoin transactions be transparently disclosed, together with the financial statements of public companies operating in the Bitcoin ecosystem. They also called on the authorities to carefully weigh the implications of the new crypto assets legislation and avoid expanding government exposure to Bitcoin.

    Directors stressed the importance of structural reforms to strengthen governance, the investment climate and productivity. They called for continued efforts to strengthen fiscal transparency, public procurement, AML/CFT legislation, and the independence of the judicial system. Directors also stressed the importance of enhancing human capital, infrastructure, and climate resilience, as well as continuing to upgrade the statistical framework.

    El Salvador: Selected Economic Indicators

    I. Social Indicators

    		  

    Per capita income (U.S. dollars, 2021)

    4,408

    		  

    Population (million, 2021)

    6.5

    		  

    Percent of pop. below poverty line (2021)

    24.6

    		  

    Gini index (2019)

    		  

    39

    		  
                     

    II. Economic Indicators (percent of GDP, unless otherwise indicated)

    		  
     
               

    Proj.

    		  

    2018

    2019

    2020

    2021

    2022

    2023

    2024

    		  
                     

    Income and Prices

    		                

    Real GDP growth (percent)

    2.4

    2.4

    -8.2

    10.3

    2.8

    2.4

    1.9

    		  

    Consumer price inflation (average, percent)

    1.1

    0.1

    -0.4

    3.5

    7.2

    4.1

    2.1

    		  

    Terms of trade (percent change)

    -3.9

    1.7

    4.8

    -7.6

    -1.6

    5.0

    0.7

    		  

    Sovereign bond spread (basis points)

    424

    453

    760

    837

    1,485

    …

    …

    		  
                     

    Money and Credit

    		                

    Credit to the private sector

    57.3

    59.1

    66.3

    61.8

    63.1

    61.2

    60.0

    		  

    Broad money

    54.8

    59.1

    70.4

    61.5

    58.5

    58.5

    60.5

    		  

    Interest rate (time deposits, percent)

    4.2

    4.3

    4.1

    3.9

    …

    …

    …

    		  
                     

    External Sector

    		                

    Current account balance 

    -3.3

    -0.4

    0.8

    -5.1

    -8.3

    -5.4

    -5.3

    		  

    Trade balance

    -21.7

    -21.2

    -21.0

    -28.6

    -31.4

    -27.5

    -27.4

    		  

    Transfers (net)

    20.6

    21.0

    24.4

    25.9

    24.0

    22.9

    22.4

    		  

    Foreign direct investment

    -3.2

    -2.4

    -1.1

    -1.1

    -0.2

    -1.6

    -2.2

    		  

    Gross international reserves (mill. of US$)

    3,569

    4,446

    3,083

    3,426

    2,440

    2,798

    3,382

    		  
                     

    Nonfinancial Public Sector

    		                

    Overall balance

    -2.7

    -3.1

    -8.2

    -5.6

    -2.5

    -3.4

    -3.4

    		  

    Primary balance

    0.9

    0.6

    -3.8

    -1.1

    2.2

    0.3

    0.4

    		  

    Of which: tax revenue

    18.0

    17.7

    18.5

    20.1

    20.3

    19.0

    19.0

    		  

    Public sector debt 1/

    70.4

    71.3

    89.4

    82.4

    77.2

    76.1

    78.3

    		  
                     

    National Savings and Investment

    		                

    Gross domestic investment

    18.4

    18.3

    18.9

    22.2

    20.7

    19.8

    19.4

    		  

    Private sector 2/

    15.7

    15.9

    16.9

    19.6

    18.8

    17.4

    17.1

    		  

    National savings

    15.1

    17.9

    19.8

    17.1

    12.4

    14.5

    14.2

    		  

    Private sector

    14.7

    18.0

    25.4

    19.5

    12.8

    14.9

    14.9

    		  
                     

    Net Foreign Assets of the Financial System

    		                

    Millions of U.S. dollars

    2,655

    3,372

    3,618

    3,022

    1,114

    1,227

    1,400

    		  
                     

    Memorandum Items

    		                

    Nominal GDP (billions of US$)

    26.0

    26.9

    24.6

    28.7

    31.6

    33.7

    35.1

    		  
                     

    Sources: Central Reserve Bank of El Salvador, Ministry of Finance, and IMF staff estimates.

    		  

    1/ Gross debt of the nonfinancial public sector.

    		  

    2/ Includes inventories.

    		  

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

    [2] At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summing up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Meera Louis

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/03/19/pr25069-el-salvador-imf-executive-board-concludes-2023-article-iv-consultation-with-el-salvador

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI: Westport to Issue Q4 and Full Year 2024 Financial Results on March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, March 19, 2025 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (TSX: WPRT / Nasdaq: WPRT) (“Westport” or “The Company”) announces that the Company will release 2024 financial results on Monday, March 31, 2025, before market open. A conference call and webcast to discuss the financial results and other corporate developments will be held on the same day: Monday, March 31, 2025.

    Time: 1:30 p.m. ET (10:30 a.m. PT)
    Call Link: https://register-conf.media-server.com/register/BId6a8762a91a74ab1b129f33836d3db21
    Webcast: https://investors.wfsinc.com

    Participants may register up to 60 minutes before the event by clicking on the call link and completing the online registration form. Upon registration, the user will receive dial-in info and a unique PIN, along with an email confirming the details.

    The webcast will be archived on Westport’s website and a replay will be available at https://investors.wfsinc.com.

    About Westport Fuel Systems
    At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global transportation industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in approximately 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.wfsinc.com.

    Investor Inquiries:
    Investor Relations
    T: +1 604-718-2046
    E: invest@wfsinc.com

    The MIL Network –

  • MIL-OSI: Stack Capital Group Inc. Announces Supplemental Listing of Warrants

    Source: GlobeNewswire (MIL-OSI)

    THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

    TORONTO, March 19, 2025 (GLOBE NEWSWIRE) — Stack Capital Group Inc. (“Stack Capital” or the “Company”) (TSX: STCK) is pleased to announce that the Toronto Stock Exchange (the “TSX”) has accepted for listing 757,948 common share purchase warrants of the Company (the “Warrants”). The Warrants were previously issued on a private placement basis, in two tranches, as part of the issuance of a total of 1,515,908 units of Stack Capital, each unit consisting of one common share and one-half of one Warrant, which closed on October 30, 2024, and November 22, 2024.

    The TSX has advised that the Warrants (CUSIP 85236X153; ISIN CA85236X1539) will be listed for trading on the TSX under the symbol “STCK.WT.A” effective at market open on Monday, March 24, 2025. Each Warrant is exercisable to acquire one common share of Stack Capital (a “Warrant Share”) at any time prior to 4:00 p.m. (Toronto, Ontario time) on October 30, 2027, at an exercise price of $11.00 per Warrant Share, subject to adjustment in certain events. The Warrants were issued pursuant to a warrant indenture dated October 30, 2024, between Stack Capital and Computershare Trust Company of Canada, as warrant agent (the “Warrant Indenture”). A copy of the Warrant Indenture can be found on Stack Capital’s profile on www.sedarplus.ca.

    No securities regulatory authority has either approved or disapproved of the contents of this news release. This news release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of Stack Capital in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered, sold or delivered, directly or indirectly, within the United States, its possessions and other areas subject to its jurisdiction or for the account or for the benefit of U.S. Persons (as defined under applicable securities laws) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

    About Stack Capital

    Stack Capital is an investment holding company and its business objective is to invest in equity, debt and/or other securities of growth-to-late-stage private businesses. Through Stack Capital, shareholders have the opportunity to gain exposure to the diversified private investment portfolio; participate in the private market; and have liquidity due to the listing of the Common Shares on the TSX. At the same time, the public structure also allows Stack Capital to focus its efforts on maximizing long-term performance through a portfolio of high growth businesses, which are not widely available to most Canadian investors. SC Partners Ltd. has taken the initiative in creating Stack Capital and acts as Stack Capital’s administrator and is responsible to source and advise with respect to all investments for Stack Capital.

    For more information, please visit our website at www.stackcapitalgroup.com or contact:
    Brian Viveiros
    VP, Corporate Development, and Investor Relations
    647.280.3307
    brian@stackcapitalgroup.com

    The MIL Network –

  • MIL-OSI: Wearable Devices Announces Full Year 2024 Financial Results and Provides Corporate Update

    Source: GlobeNewswire (MIL-OSI)

    YOKNE’AM ILLIT, Israel, March 19, 2025 (GLOBE NEWSWIRE) — Wearable Devices Ltd. (Nasdaq: WLDS, WLDSW) (“Wearable Devices” or the “Company”), a technology growth company specializing in artificial intelligence (“AI”)-powered touchless sensing wearables, today announced its financial results for the year ended December 31, 2024.

    Asher Dahan, Chief Executive Officer and Chairman of the Board of Directors of Wearable Devices, commented, “2024 was characterized by strategic capital allocation and the execution of our growth strategy as we delivered our Mudra Band for Apple Watch, and entered into several collaborations with companies and contractors at the forefront of their respective industries. With a strong focus on technological breakthroughs and innovation, we introduced the Mudra Link, a universal gesture control wearable wristband in September 2024. This launch marked a significant milestone in our neural interface technology, enabling seamless, touch-free interaction with a wide range of digital devices. The Mudra Link is open for orders, and we have started to ship the Mudra Link to customers in the first quarter of 2025. We invested significant resources in pursuit of these milestones, mainly due to strategic investments primarily in sales and marketing and research and development as we continue to innovate and showcase our technology, as well as an enhanced focus on business development on the business-to-business (“B2B”) side of our business.”

    “Collaborations represent a key part of our business, and we expect our B2B offerings to be a significant driver of revenue for us as we grow. At the beginning of 2024, we launched the B2B Mudra Developer Kit (“MDK”), providing our B2B customers with enhanced capabilities and additional features that improve our B2B offering. The MDK allows original equipment manufacturers (“OEMs”) to design new, customized gestures to create a user interface specifically tailored to their needs. At the beginning of 2024, we announced a collaboration agreement with Qualcomm Incorporated (“Qualcomm”), for the development of products using the Qualcomm Snapdragon Spaces XR Developer Platform. In October 2024, we announced an innovative collaboration with TCL-RayNeo™ (“RayNeo”), a leader in augmented reality (“AR”) technology, aiming at bringing mass-market neural interface wristband for AR glasses to life. We anticipate interest in our B2B product to grow as the market for wearable devices and AI-based technology expands, with more and more customers recognizing the value that our products can add to their operations.

    “Our business-to-customer (“B2C”) product, the Mudra Band, is an award-winning aftermarket band for the Apple Watch that enables touchless control of multiple Apple devices. In addition, we’re seeing considerable interest in the Mudra Link, and during the first quarter of 2025 we commenced shipment of our first manufacturing batch to Mudra Link customers. 2024 was characterized by strategic capital allocation and the execution of our growth strategy, with a focus on three key areas: technological breakthroughs and innovation, adoption trends and market outlook, and strategic positioning for future growth.

    First, we continued to lead in innovation with groundbreaking technologies that enable natural, touch-free interaction. Second, we are witnessing an increasing adoption trend in neural interface solutions, with growing interest from both consumers and business partners. Finally, we are well-positioned for future growth, supported by our marketing efforts, strong presence at leading trade shows such as CES and MWC, and the growing recognition of Mudra Link as a market-defining product. We continue to receive orders for the product and see significant growth potential as our technology and capabilities evolve.”

    Mr. Dahan concluded, “We have a comprehensive strategy with innovative B2B and B2C offerings to maximize our presence in what we believe to be a market that is poised for tremendous growth. We are very encouraged by the progress that we made in 2024 and believe that Wearable Devices is positioned for transformation in coming years, as we continue to invest in our operations, bring innovative products to market, and showcase the breadth and depth of our technology.”

    2024 and Recent Business Highlights:

    Strategic Collaborations & Expansion

    • Signed a collaboration agreement with Qualcomm to elevate extended reality (“XR”) experiences using Mudra neural technology.
    • Collaborated with RayNeo to lead the neural control revolution for AR glasses, positioning Mudra ahead of competitors like Meta.
    • Signed a reseller agreement to scale licensing efforts in South Korea and China.

    Product & Technology Innovations

    • Launched Mudra Link, the first AI Neural Interface Wristband for Android and beyond, expanding accessibility of neural gesture control.
    • Released the Mudra Developer Kit (MDK) for B2B customers, enabling OEMs to create tailored user interfaces.
    • Unveiled AI-powered Large MUAP Models to revolutionize gesture control with personalized neural interactions.
    • Showcased future AI-powered gesture personalization technology, advancing next-gen human-computer interaction.

    Market Recognition & Sales Expansion

    • Awarded the CES 2025 Innovation Award in XR Technologies and Accessories for Mudra Link.
    • Chosen as Best Wearable of CES 2024 by SlashGear.com.
    • Featured in Mashable, VentureBeat, and leading tech magazines.

    Strategic Deployments

    • Successfully completed the first-stage deployment testing for a leading XR glasses OEM, meeting key evaluation criteria.
    • Demonstrated Mudra technology integration with Qualcomm Snapdragon Spaces at CES 2025 and AWE 2024.
    • Showed positive results on Lenovo’s XR headset, validating Mudra’s neural technology for next-gen spatial computing.

    Intellectual Property & Regulatory Progress

    • Filed a patent application for touchless pinch-to-zoom technology for AR/VR (virtual reality) applications.
    • Secured a Chinese patent for its AI Gesture-Controlled Interface.
    • Expanded international IP portfolio with a neural wrist technology patent filing in South Korea.

    Full Year 2024 Financial Highlights:

    • Revenues: Revenues increased from $82 thousand in 2023 to $522 thousand in 2024, marking a significant step forward in the Company’s transition toward a commercially driven business. This growth was primarily driven by increased sales of the Mudra Band, demonstrating early market adoption and growing demand for neural interface technology. While revenues are still at an early stage, the upward trend reflects positive momentum and a foundation for future expansion.
    • Research and Development Expenses: Research and development expenses decreased by 11% to $3.0 million in the full year of 2024 compared to $3.3 million in the full year of 2023, reflecting the successful completion of key development phases, particularly Mudra Link, and a transition toward production and sales. The Company continued to focus on creating disruptive, industry leading technology that leverages AI and proprietary algorithms, software and hardware.
    • Sales and Marketing Expenses: Sales and marketing expenses increased by 4% to $2.1 million in the full year of 2024 compared to $2.0 million in the full year of 2023, related to the Company driving awareness of its technology and products across various channels including participation at multiple leading industry conferences.
    • General and administrative expenses: General and administrative expenses decreased by 1.3% to $2.8 million in the full year of 2024 compared to $2.9 million in the full year of 2023.
    • Net Loss: Net loss increased to $(7.9 million), or $(24.2) per diluted share, for the year ended December 31, 2024, as compared to a net loss of $(7.8 million), or $(38.4) per diluted share, for the year ended December 31, 2023.

      The per share information reflects the Company’s 1-for-20 reverse share split, which became effective on October 10, 2024, and an additional 1-for-4 reverse share split, which became effective on March 17, 2025.

    • Cash Position: Cash and deposits as of December 31, 2024 were $4.0 million.
    • Inventory: Inventory increased to $1.2 million at the end of 2024, as part of the completion of the transition phase from research and development to production and to serve our planned B2C and B2B initiatives in 2025.

    About Wearable Devices Ltd.

    Wearable Devices Ltd. is a growth company developing AI-based neural input interface technology for the B2C and B2B markets. The Company’s flagship product, the Mudra Band for Apple Watch, integrates innovative AI-based technology and algorithms into a functional, stylish wristband that utilizes proprietary sensors to identify subtle finger and wrist movements allowing the user to “touchlessly” interact with connected devices. The Company also markets a B2B product, which utilizes the same technology and functions as the Mudra Band and is available to businesses on a licensing basis. Wearable Devices Is committed to creating disruptive, industry leading technology that leverages AI and proprietary algorithms, software, and hardware to set the input standard for the Extended Reality, one of the most rapidly expanding landscapes in the tech industry. The Company’s ordinary shares and warrants trade on the Nasdaq market under the symbol “WLDS” and “WLDSW,” respectively.

    Forward-Looking Statement Disclaimer

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when we discuss the benefits, capabilities, advantages and expected demand, an increasing adoption trend in neural interface solutions, with growing interest from both consumers and business partners, momentum and growth of our products and technology, our expectation for the growth of the B2B market and that our B2B offerings will be a significant driver of revenue for us as we grow, our anticipation that interest in our B2B product will grow as the market for wearable devices and AI-based technology expands and our belief that Wearable Devices is positioned for transformation in coming years. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our use of proceeds from the offering; the trading of our ordinary shares or warrants and the development of a liquid trading market; our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2023, filed on March 15, 2024 and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Investor Contact:

    Michal Efraty
    IR@wearabledevices.co.il

    WEARABLE DEVICES LTD. AND ITS SUBSIDIARY
    CONSOLIDATED BALANCE SHEETS
     
        December 31  
        2024       2023  
        U.S. dollars
    in thousands    		  
    Assets      
    CURRENT ASSETS:            
    Cash and cash equivalents     3,089         810  
    Short-term bank deposits     862         4,045  
    Governmental grant receivable     17         108  
    Other receivables and prepaid expenses     322         757  
    Inventories     1,226         1,032  
    TOTAL CURRENT ASSETS     5,516         6,752  
                     
    NON-CURRENT ASSETS:                
    Long-term bank deposits     –         54  
    Right-of-use assets     330         592  
    Property and equipment, net     130         194  
    TOTAL NON-CURRENT ASSETS     460         840  
    TOTAL ASSETS     5,976         7,592  
                     
    Liabilities and Shareholders’ Equity                
    CURRENT LIABILITIES:                
    Accounts payable     157         410  
    Advance payments     83         312  
    Convertible promissory note     770         –  
    Accrued payroll and other employment related accruals     402         579  
    Accrued expenses     392         190  
    Lease liabilities     291         297  
    TOTAL CURRENT LIABILITIES     2,095         1,788  
    Lease liabilities     21         278  
    TOTAL LIABILITIES     2,116         2,066  
                     
    SHAREHOLDERS’ EQUITY:                
    Ordinary shares no par value : Authorized 50,000,000 as of December 31, 2024 and December 31, 2023; Issued and outstanding 707,463 shares as of December 31, 2024 and 254,843 shares as of December 31, 2023.     67         57  
    Additional paid-in capital     32,895         26,692  
    Accumulated losses     (29,102 )       (21,223)  
    TOTAL SHAREHOLDERS’ EQUITY     3,860         5,526  
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY     5,976         7,592  
    WEARABLE DEVICES LTD. AND ITS SUBSIDIARY
    CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
     
        Year ended December 31  
        2024       2023       2022    
        U.S. dollars in thousands (except per share amounts)  
                       
    Revenues     522         82         45    
    Cost of revenues     437         (62 )       (10 )  
    GROSS PROFIT     85         20         35    
    Research and development, net     (2,964 )       (3,316 )       (2,271 )  
    Sales and marketing expenses, net     (2,096 )       (2,008 )       (1,370 )  
    General and administrative
    expenses    		     (2,845 )       (2,882 )       (1,948 )  
    Initial public offering expenses     –         –         (904 )  
    OPERATING LOSS     (7,820 )       (8,186 )       (6,458 )  
    Financing income (expenses), net     (52 )       372         (38 )  
    LOSS BEFORE TAX EXPENSES     (7,872 )       (7,814 )       (6,496 )  
    Tax expenses     (7 )       –         –    
    NET LOSS AND TOTAL                           
    COMPREHENSIVE LOSS     (7,879 )       (7,814 )       (6,496 )  
                             
    Net loss per ordinary shares,                        
     basic and diluted *     (24.2 )       (38.4 )       (42.4 )  
    Weighted average number of                               
    ordinary shares and pre-
    funded warrants outstanding
    basic and diluted *    		     325,690         202,515         153,465    
      * The share and per share information in these financial statements reflects the 1-for-20 reverse share split became effective on October 10, 2024 and an additional 1-for-4 reverse share split of our issued and outstanding Ordinary Shares became effective on March 17, 2025.
    WEARABLE DEVICES LTD. AND ITS SUBSIDIARY
    CONSOLIDATED STATEMENTS OF CASH FLOWS
     
        Year ended December 31  
        2024       2023     2022    
        U.S. dollars in thousands  
    CASH FLOWS FROM OPERATING ACTIVITIES:                    
    Net loss     (7,879 )       (7,814)       (6,496)    
    Adjustments required to reconcile net loss to net cash used in                           
    operating activities                          
    Depreciation     107         68       23    
    Interest expenses on convertible promissory note     4         –       –    
    Accrued interest on deposits     (3 )       (45)       –    
    Share based compensation expenses     182         241       790    
    Unrealized gain from foreign currency derivative activities     68         (68)       –    
    Marketing expenses paid in ordinary shares     100         –       –    
    Provision for inventory write-off     75         –       –    
                               
    Changes in operating assets and liabilities items:                          
    Decrease in accounts receivable     –         –       8    
    Decrease (increase) in inventories     (269 )       (1,026)       5    
    Decrease (increase) in governmental grants receivables     91         (54)       8    
    Decrease (Increase) in other receivables and prepaid expenses     357         (136)       (496)    
    Increase (decrease) in advance payments     (228 )       (41)       79    
    Increase (decrease) in deferred revenues     –         (12)       (12)    
    Increase (decrease) in accounts payable     (253 )       254       84    
    Increase (decrease) in accrued payroll and other employment
    related accruals    		     (177 )       163       194    
    Increase in accrued expenses     212         36       99    
    Net cash used in operating activities     (7,613 )       (8,434)       (5,714)    
    CASH FLOWS FROM INVESTING ACTIVITIES:                          
    Purchase of property and equipment     (43 )       (194)       (48)    
    Decrease (Increase) in deposits, net     3,240         (4,054)       –    
    Prepayments of leasing     –         –       (18)    
    Net cash provided by (used in) investing activities     3,197         (4,248)       (66)    
    CASH FLOWS FROM FINANCING ACTIVITIES:                          
    Proceeds from issuance of shares issued in the public offering, net
    of issuance cost    		     1,578         1,670       –    
    Proceeds from issuance of units of ordinary shares and warrants in
    connection with the initial public offering, net of issuance
    expenses    		             –       14,319    
    Proceeds from issuance of SAFEs     –         –       500    
    Refund to SAFE investors     –         –       (100)    
    Proceeds from credit line     –         –       800    
    Repayment of credit line     –         –       (800)    
    Proceeds from issuance of ordinary shares as a result of exercise of
    warrants    		     –         1,449       160    
    Proceeds from issuance of ordinary shares associated with the
    SEPA    		     4,353         –       –    
    Proceeds from issuance of convertible promissory note     1,920         –       –    
    Repayment of convertible promissory note     (1,156 )                    
    Net cash provided by financing activities     6,695         3,119       14,879    
                               
    Net increase (decrease) in cash and cash equivalents     2,279         (9,563)       9,099    
    Cash and Cash Equivalents at the beginning of year     810         10,373       1,274    
    Cash and cash equivalents at the end of year     3,089         810       10,373    
    Supplemental Disclosure:                          
    Interest paid     49         –       40    
    Interest received     (144 )       (305)       –    
    Conversion of SAFEs to equity     –         –       400    
    Right-of-use asset recognized against lease liability     –         644       229    

    The MIL Network –

  • MIL-OSI: ArrowMark Financial Corp. Releases Month End Estimated Net Asset Value as of February 2025

    Source: GlobeNewswire (MIL-OSI)

    DENVER, March 19, 2025 (GLOBE NEWSWIRE) — ArrowMark Financial Corp., (NASDAQ: BANX) (“ArrowMark Financial”), today announced that BANX’s estimated and unaudited Net Asset Value (“NAV”) as of February 28, 2025, was $22.04.

    This estimated NAV is not a comprehensive statement of our financial condition or results for the month February 28, 2025.

    About ArrowMark Financial Corp.
    ArrowMark Financial Corp. is an SEC registered non-diversified, closed-end fund listed on the NASDAQ Global Select Market under the symbol “BANX.” Its investment objective is to provide shareholders with current income. BANX pursues its objective by investing primarily in regulatory capital securities of financial institutions. BANX is managed by ArrowMark Asset Management, LLC. To learn more, visit ir.arrowmarkfinancialcorp.com, or contact Destra at 877.855.3434 or by email at BANX@destracapital.com.

    Disclaimer and Risk Factors:
    There is no assurance that ArrowMark Financial will achieve its investment objective. ArrowMark Financial is subject to numerous risks, including investment and market risks, management risk, income and interest rate risks, banking industry risks, preferred stock risk, convertible securities risk, debt securities risk, liquidity risk, valuation risk, leverage risk, non-diversification risk, credit and counterparty risks, market at a discount from net asset value risk and market disruption risk. Shares of closed-end investment companies may trade above (a premium) or below (a discount) their net asset value. Shares of ArrowMark Financial may not be appropriate for all investors. Investors should review and consider carefully ArrowMark Financial’s investment objective, risks, charges and expenses. Past performance does not guarantee future results.

    The Annual Report, Semi-Annual Report and other regulatory filings of the Company with the SEC are accessible on the SEC’s website at www.sec.gov and on the BANX’s website at ir.arrowmarkfinancialcorp.com.

    Contact:
    BANX@destracapital.com

    The MIL Network –

  • MIL-OSI Security: Illicit Massage Parlor Operators Sentenced

    Source: Office of United States Attorneys

    Shaoping Wen and her son, Xu Wang, were sentenced on March 18, 2025, for their roles in operating massage parlors that operated as fronts for commercial sex operations, announced Acting U.S. Attorney for the Northern District of Texas Chad E. Meacham.

    In September 2024, Wen, 65, and Wang, 42, were indicted by a federal grand jury in Lubbock, Texas, for conspiracy to commit interstate travel and use of interstate facilities in aid of racketeering enterprises and other offenses related to the operation of illicit massage parlors in Texas and New Mexico and money laundering.   According to court documents, Wen owned and operated at least seven massage parlors where Asian women engaged in illegal commercial sex. Wang operated the parlors on Wen’s behalf when Wen was out of state.

    Shaoping Wen pled guilty to conspiracy to commit interstate travel and use of interstate facilities in aid of racketeering enterprises in November 2024.  She was sentenced to 12 months and 1 day in federal prison by U.S. District Judge Matthew J. Kacsmaryk, to be followed by a one-year term of supervised release.  Wen was also ordered to forfeit $291,990.88 in U.S. currency and pay a money judgment of $1,771,360 to the United States.  

    Xu Wang pled guilty to misprision of a felony in November 2024 and was sentenced by Judge Kacsmaryk to time served (362 days), to be followed by a one-year term of supervised release.

    Court documents revealed that, on at least 10 occasions between June 2023 and February 2024, undercover officers purchased massages for varying dollar amounts at Wen’s parlors in Texas and New Mexico.  The officers were generally greeted by lingerie-clad women who agreed to have sex with them for an additional fee of between $140 and $200.  Several of the women used translation apps to negotiate for sexual services. When the women were arrested for prostitution, they identified themselves as Chinese citizens and listed their occupation as simply, “laborer.”  On several occasions, Wen or Wang facilitated payment of the arrested women’s cash bond.

    Officers also observed Wen’s vehicle transporting Asian females directly from the airport to her massage parlors. Neighbors said the women never left the building. Searches of the premises revealed beds placed on the floors, suggesting the women lived at the massage parlors.

    On at least one occasion, a passerby heard a woman screaming and entered the parlor to check-in.  He reported seeing three women between the ages of 30 and 50 dressed in provocative clothing.

    Officers found the massage parlors advertised on sites often used to advertise for commercial sex. The ads included photos of partially naked women and promoted “100% sexy” girls who “like to spend time with nice upscale gentlemen.”  They advertised the “girlfriend experience,” “porn star experience,” and “fantasy outfits on request.”  Prostitution is illegal in Texas and New Mexico.

    In March 2024, Wen’s seven illicit massage parlors were searched.  During the search, law enforcement located further evidence that the women were residing in the parlors, as well as condoms and other items indicative of sexual activity, and approximately $291,990.88 in U.S. currency. Casino records revealed that Wen frequently traveled to California to launder the proceeds of her illicit massage parlor businesses.  From between January 2018 and August 2023, Wen cashed out approximately $1,771,360 in chips from the casino.

    The Federal Bureau of Investigation’s Dallas Field Office – Lubbock Resident Agency, Homeland Security Investigation’s Dallas Field Office, the Texas Department of Public Safety, and the Lubbock Police Department conducted the investigation with the assistance of the FBI’s Albuquerque Field Office, HSI’s Albuquerque Field Office, the Lubbock County Sheriff’s Office, Immigration & Customs Enforcement (ICE), the Wolfforth Police Department, the Eddy County Sheriff’s Office, the Carlsbad Police Department, the Roswell Police Department, the Clovis Police Department, the Roswell Fire Department, the Carlsbad Fire Department, the Lubbock County District Attorney’s Office, and the U.S. Attorney’s Office for the District of New Mexico. Assistant U.S. Attorney Callie Woolam prosecuted the case. 
     

    MIL Security OSI –

  • MIL-OSI Security: Federal Jury Finds Feeding Our Future Mastermind and Co-Defendant Guilty in $250 Million Pandemic Fraud Scheme

    Source: Office of United States Attorneys

    MINNEAPOLIS – Two individuals have been convicted by a federal jury for their roles in a $250 million fraud scheme that exploited a federally-funded child nutrition program, announced Acting U.S. Attorney Lisa D. Kirkpatrick.

    “Aimee Bock and Salim Said took advantage of the Covid-19 pandemic to carry out a massive fraud scheme that stole money meant to feed children,” said Acting U.S. Attorney Lisa D. Kirkpatrick.  “The defendants falsely claimed to have served 91 million meals, for which they fraudulently received nearly $250 million in federal funds.  That money did not go to feed kids.  Instead, it was used to fund their lavish lifestyles. Today’s verdict sends a message to the community that fraud against the government will not be tolerated.”

    “Stealing from the federal government is stealing from the American people – plain and simple. The egregious fraud uncovered in the Feeding our Future case represents the blatant betrayal of public trust. These criminals stole hundreds of millions in federal funding meant to feed hungry children during a crisis and instead funneled it into luxury homes, cars and lavish lifestyles while families struggled,” said Special Agent in Charge Alvin M. Winston Sr. of FBI Minneapolis. “The FBI will not allow criminals to rob federal programs and walk away unscathed. We will expose their schemes, dismantle their networks, and ensure they face the full weight of justice.”

    “Aimee Bock, Salim Said, and others took advantage of a global pandemic to rob food programs, aimed at serving those in need, of hundreds of millions of taxpayer dollars during a time when so many people were struggling,” said Ramsey Covington, Special Agent in Charge, IRS Criminal Investigation, Chicago Field Office. “Instead of overseeing the distribution of meals to low-income children, Bock’s organization enabled meal site operators to commit fraud. This verdict is the product of dedicated investigators and prosecutors to bring accountability to those who brazenly stole from the American public. IRS Criminal Investigation is deeply committed to working with our partner agencies to combat these types of fraud schemes and ensure our American tax dollars serve their intended purpose.”

    “Today’s verdict reaffirms how critical a role the U.S. Postal Inspection Service plays in protecting the American consumer from these types of fraudulent schemes and in ensuring that the nation’s U.S. mail stream is not used by criminals to prey upon our citizens and programs intended to aid those in need during difficult times.  The bold egregious nature in which these fraudsters victimized our children and programs intended to feed them during a world-wide pandemic illustrates their callous disregard for human decency and overall greed,” Bryan Musgrove, Inspector in Charge of the Denver Division stated. “This investigation is a tremendous example of how the U.S. Postal Inspection Service and our FBI law enforcement partners can work side by side in an effort to bring these fraudsters to justice.”

    Historically, the Federal Child Nutrition provided meals to children in school-based programs or activities. During the COVID-19 pandemic, the U.S. Department of Agriculture (USDA) waived some of the standard requirements for participation in the Federal Child Nutrition Program. Among other things, the USDA allowed for-profit restaurants to participate in the program, as well as allowed for off-site food distribution to children outside of educational programs. 
    As proven at trial, Aimee Bock, 44, was the founder and executive director of Feeding Our Future, a nonprofit organization that was a sponsor participating in the Federal Child Nutrition Program. Salim Said, 36, former co-owner of Safari Restaurant, was jointly tried with Bock. Together, they oversaw a massive fraud scheme carried out by sites under Feeding Our Future’s sponsorship. 

    As proven at trial, Feeding Our Future employees recruited individuals and entities to open Federal Child Nutrition Program sites throughout the state of Minnesota. These sites, created and operated by Bock, Said, and others, fraudulently claimed to be serving meals to thousands of children a day within just days or weeks of being formed. Bock and Said created and submitted false documentation, including fraudulent meal counts consisting of fake attendance rosters purporting to list the names and ages of the children receiving meals at the sites each day. Feeding Our Future submitted these fraudulent claims to the Minnesota Department of Education (MDE) and then disbursed the fraudulently obtained Federal Child Nutrition Program funds to their co-conspirators involved in the scheme.

    To accomplish their scheme, Bock and Said created dozens of shell companies to enroll in the program as food program sites, and to receive and launder the proceeds of their fraudulent scheme. In exchange for sponsoring these sites’ fraudulent participation in the program, Feeding Our Future received more than $18 million in administrative fees to which it was not entitled. In addition to the administrative fees, Feeding Our Future employees solicited and received bribes and kickbacks from individuals and companies sponsored by Feeding Our Future. Many of these kickbacks were paid in cash or disguised as “consulting fees” paid to shell companies created by Feeding Our Future employees to make them appear legitimate.

    As proven at trial, Said’s Safari Restaurant reported approximately $600,000 in annual revenue in each of the three years prior to the onset of the COVID-19 pandemic. In April 2020, Safari Restaurant enrolled in the Federal Child Nutrition Program under the sponsorship of Feeding Our Future. By July 2020, Said claimed to be serving meals to 5,000 children per day, seven days a week. In total, Said claimed to have served over 3.9 million meals to children from the Safari Restaurant food site between April 2020 and November 2021. Said also claimed that Safari Restaurant provided more than 2.2 million meals to other food sites involved in Feeding Our Future’s fraud scheme.

    In total, Feeding Our Future opened more than 250 Federal Child Nutrition Program sites throughout the state of Minnesota, and in doing so, went from receiving and disbursing approximately $3.4 million in federal funds in 2019 to nearly $200 million in 2021. Throughout the course of their scheme, Feeding Our Future fraudulently obtained and disbursed more than $240 million in Federal Child Nutrition Program funds. The defendants used the proceeds of their fraudulent scheme to purchase luxury vehicles, residential and commercial real estate in Minnesota as well as property in Ohio and Kentucky, real estate in Kenya and Turkey, and to fund international travel.

    After a six-week trial, Bock was convicted on four counts of wire fraud, one count of conspiracy to commit wire fraud, one count of bribery, and one count of conspiracy to commit federal programs bribery. Said was convicted on one count of conspiracy to commit wire fraud, four counts of wire fraud, one count of conspiracy to commit federal programs bribery, eight counts of bribery, one count conspiracy to commit money laundering and five counts of money laundering. 

    The case is the result of an investigation by the FBI, IRS – Criminal Investigations, and the U.S. Postal Inspection Service.

    Assistant U.S. Attorneys Joseph H. Thompson, Matthew S. Ebert, Harry M. Jacobs, and Daniel W. Bobier are prosecuting the case. Assistant U.S. Attorney Craig Baune is handling the seizure and forfeiture of assets.

    MIL Security OSI –

  • MIL-OSI Security: Warren Man Sentenced to Prison for Hate Crime of Defacing Predominantly Black Church

    Source: Office of United States Attorneys

    DETROIT – A Warren, Michigan man was sentenced today to 12 months in prison for spray-painting swastikas, the word “die,” and other graffiti on a predominantly Black church in Roseville, Michigan, Acting United States Attorney Julie Beck announced.

    Beck was joined in the announcement by Acting Assistant Attorney General Mac Warner of the Justice Department’s Civil Rights Division, and Chevoryea Gibson, Special Agent in Charge of the Detroit Field Division of the Federal Bureau of Investigation.

    According to court documents, David Bluer, 34, pleaded guilty on December 3, 2024, to one count of damaging religious property. As part of his guilty plea, Bluer admitted that in October 2021, he spray-painted several swastikas, the word “die,” and other graffiti on the Roseville church, because of the race and color of individuals associated with the church.  Specifically, the defendant admitted that he intentionally defaced the church because the church serves a predominantly Black congregation and has a Black pastor. In addition, Bluer spray-painted swastikas, a racist slur and symbols, and other graffiti on the public bathroom of Trombly Park, in Warren, Michigan. The racist graffiti included the statement “DaviD KiLLS Ni**ERS.”

    “The defendant’s attack, motivated by race and color, instilled fear in not only the mostly Black congregants of the church, but damaged the entire community’s sense of safety. Our office will always vigorously prosecute those who commit unlawful bias-motivated acts and seek justice for the victims,” Acting U.S. Attorney Beck said.

    “The sentence of David Bluer sends a stern warning to anyone who seeks to invoke fear and hatred towards a specific group of individuals. The FBI is committed to upholding the U.S. Constitution, investigating civil rights violations and the protection of the American People,” said Cheyvoryea Gibson, Special Agent in Charge of the FBI in Michigan. The hate-driven criminal acts committed by Mr. Bluer were halted through the relentless investigative efforts of members from the FBI Detroit’s Joint Terrorism Task Force, Roseville P.D., Warren P.D., as well as the U.S. Attorney’s Office for the Eastern District of Michigan, whose collaboration was crucial in securing this successful prosecution.”

    The FBI Detroit Field Office investigated the case.

    Assistant U.S. Attorney Frances Carlson for the Eastern District of Michigan and Trial Attorney Erin Monju of the Justice Department’s Civil Rights Division prosecuted the case.

    MIL Security OSI –

  • MIL-OSI Security: New York Man Charged with Child Exploitation Offenses, Including Traveling to Connecticut to Engage in Sexual Activity with a Minor

    Source: Office of United States Attorneys

    Marc H. Silverman, Acting United States Attorney for the District of Connecticut, and Michael J. Krol, Special Agent in Charge of Homeland Security Investigations (HSI), New England, announced that JAMES PAGLIARO, 26, of Middletown, New York, was arrested today on a federal criminal complaint charging him with multiple child exploitation offenses, including traveling to Connecticut to engage in sexual activity with a minor.

    Pagliaro appeared before U.S. Magistrate Judge S. Dave Vatti in Bridgeport and was ordered detained.

    As alleged in court documents and statements made in court, in approximately October 2024, Pagliaro began messaging a 15-year-girl (“minor victim”) on TikTok.  In December 2024, the minor victim told Pagliaro that she was 15 years old, and they began text messaging.  In January 2025, Pagliaro traveled to Connecticut multiple times to engage in sexual conduct with the minor victim.

    It is further alleged that in February 2025, a forensic examination of the minor victim’s iPhone revealed hundreds of sexually explicit images and videos of the minor victim, and more than 11,000 text messages and more than 300 iOS and FaceTime calls between Pagliaro and the minor victim.  In the messages, Pagliaro instructed the minor victim to perform specific sex acts, including sadistic and masochistic conduct.  Pagliaro also frequently referenced the minor victim’s age, acknowledging that what he was doing was “illegal”; referred to the minor victim as his “slave” and had her send him a “slavery contract”; berated and punished the minor victim when she failed to accurately and precisely follow his instructions; and asked the minor victim to recruit other minors to engage in sexual conduct with him.

    The complaint charges Pagliaro with production of child pornography, which carries a mandatory minimum term of imprisonment of 15 years and a maximum term of 30 years of imprisonment; receipt of child pornography, which carries a mandatory minimum term of imprisonment of five years and a maximum term of imprisonment of 20 years; enticement of a minor to engage in sexual activity, which carries a mandatory minimum term of imprisonment of 10 years and a maximum term of imprisonment of life; traveling to engage in sexual activity with a minor, which carries a maximum term of imprisonment of 30 years; and transfer of obscene material to a minor, which carries a maximum term of imprisonment of 10 years.

    Acting U.S. Attorney Silverman stressed that a complaint is only a charge and is not evidence of guilt.  Charges are only allegations, and a defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt.

    This investigation is being conducted by HSI New England, HSI New York, the Orange County (N.Y.) Sheriff’s Office, and the Danbury, Ridgefield, and Watertown Police Departments.  The case is being prosecuted by Assistant U.S. Attorney Daniel P. Gordon

    This prosecution is part of the U.S. Department of Justice’s Project Safe Childhood Initiative, which is aimed at protecting children from sexual abuse and exploitation.  For more information about Project Safe Childhood, please visit www.justice.gov/psc.

    To report cases of child exploitation, please visit www.cybertipline.com.

    MIL Security OSI –

  • MIL-OSI Security: High-Ranking MS-13 Leader Arraigned in Long Island Federal Court on Terrorism and Racketeering Charges After His Arrest in Mexico

    Source: Office of United States Attorneys

    Defendant, Who Was Added to the FBI’s Ten Most Wanted Fugitives List in February, Was a Founding Member of the Transnational Criminal Organization’s Ranfla en las Calles Leadership Structure

    CENTRAL ISLIP, NY – Earlier today, in federal court in Central Islip, Francisco Javier Roman-Bardales, also known as “Veterano de Tribus,” a high-ranking leader of La Mara Salvatrucha, also known as “MS-13,” was arraigned on a four-count indictment charging him, along with a dozen other high-ranking MS-13 leaders, with directing the transnational criminal organization’s unlawful activities in the United States, El Salvador, Mexico, and elsewhere over the past two decades.  Roman-Bardales, who had been a fugitive for nearly three years and was added to the Federal Bureau of Investigation (FBI) Ten Most Wanted Fugitives List last month, was arrested by the FBI on March 18, 2025 at the San Ysidro Port of Entry in San Diego, California.  Roman-Bardales had been located and arrested by Mexican authorities in Veracruz on March 17, 2025, and after it was determined that he was an El Salvadoran citizen with no valid status in Mexico, he was expelled from Mexico.  Roman-Bardales is charged with racketeering conspiracy, conspiracy to provide and conceal material support and resources to terrorists, narco-terrorism conspiracy, and alien smuggling conspiracy.  Today’s proceeding was held before United States District Judge Joan M. Azrack.  Roman-Bardales was ordered detained pending trial in the Eastern District of New York.

    Pamela Bondi, United States Attorney General, John J. Durham, United States Attorney for the Eastern District of New York and Leslie Backschies, Acting Assistant Director in Charge, FBI, New York Field Office, announced the arraignment.

    “MS-13 is a terrorist organization and this case reflects the Department of Justice’s ironclad commitment to putting terrorists behind bars,” stated Attorney General Bondi.  “Members of MS-13 and similar groups should live in fear knowing that we will hunt them down, prosecute them, and deliver swift American justice for their heinous crimes.”

    “The prosecution in the Eastern District of New York of this international fugitive, who is one of the most senior leaders of the MS-13 in the world, is another momentous step in the dismantling of this evil criminal enterprise, whose bloodshed and reign of terror traverses all boundaries,” stated United States Attorney Durham.  “Thanks to the relentless and brave work of United States law enforcement, he will soon face reckoning in a courtroom on Long Island where his transnational criminal organization has impacted so many communities.”

    Mr. Durham expressed his appreciation to the Suffolk County Police Department, Homeland Security Investigations, San Diego (HSI), the FBI’s San Diego Field Office and the Government of Mexico for their assistance.

    “FBI Ten Most Wanted Fugitive Roman-Bardales has been extradited to the United States to be held accountable for the extreme and depraved violence and terror his leadership of MS-13 allegedly brought to the streets of the United States and across North America,” stated FBI Acting Assistant Director in Charge Backschies.  “The FBI, along with our law enforcement partners are committed to eradicating MS-13 and all violent transnational criminal organizations wherever they operate as we protect our nation.”

    As set forth in court filings, Roman-Bardales and his co-defendants are part of MS-13’s command and control structure, consisting of the Ranfla Nacional, Ranfla en Las Calles, and Ranfla en Los Penales.  They exercise significant leadership roles in the organization’s operations in El Salvador, Mexico, the United States, and throughout the world.  Roman-Bardales was himself a founding member of the Ranfla en las Calles and oversaw the “Western Zone” of MS-13 in El Salvador.  In the related case of United States v. Henriquez, et al., a grand jury in the Eastern District of New York previously indicted 14 members of the Ranfla Nacional, who functioned as MS-13’s “Board of Directors.” Formal extradition requests have been submitted by the United States and remain pending for 11 of those defendants who either are or were in custody in El Salvador.

    As further alleged, the defendants have engaged in a litany of violent terrorist activities aimed at influencing the policies of the government of El Salvador (GOES) and at obtaining benefits and concessions from GOES; targeting GOES law enforcement and military officials; employing terrorist tactics such as the use of Improvised Explosive Devices (IEDs) and grenades; operating military-style training camps for firearms and explosives; using public displays of violence to intimidate civilian populations; using violence to obtain and control territory; and manipulating the electoral process in El Salvador.

    Further, these defendants authorized and directed violence in the United States, Mexico, and elsewhere as part of a concerted effort to expand MS-13’s influence and territorial control.  As the leaders of the MS-13 transnational criminal organization, these defendants were an integral part of the leadership chain responsible for supervising MS-13 cliques in the United States that engaged in extreme violence, including countless murders, attempted murders, assaults, and related offenses.  For example, the U.S. Attorney’s Office for the Eastern District of New York has prosecuted hundreds of MS-13 leaders, members, and associates for carrying out more than 80 murders in the Eastern District of New York between 2009 and the present.

    Several of these defendants, including Roman-Bardales, coordinated MS-13’s expansion into Mexico (the Mexico Program), at the direction of the Ranfla Nacional, which was a coordinated effort to maintain MS-13’s continuity of operations in response to law enforcement pressure previously exerted by the United States and GOES.  Additionally, Roman-Bardales and the Mexico Program forged alliances with Mexican cartels, and engaged in narcotics trafficking, immigrant smuggling, extortion, kidnappings, and weapons trafficking.  As alleged in the indictment, the MS-13’s Mexico Program murdered some migrants bound for the United States, including suspected members of the rival 18th Street gang and MS-13 members attempting to flee MS-13 in El Salvador without permission.  Drug trafficking was an important part of MS-13’s moneymaking operation, especially in Mexico, and the defendants used MS-13’s large membership in the United States to generate financial support for MS-13’s terrorist activities in El Salvador.

    This case was brought by Joint Task Force Vulcan (JTFV), which was created to combat MS-13 and comprised of U.S. Attorney’s Offices across the country, including the Eastern District of New York; the Eastern District of Texas; the Southern District of New York; the District of Massachusetts; the District of New Jersey; the Northern District of Ohio; the District of Utah; the Southern District of Florida; the Eastern District of Virginia; the Southern District of California; the District of Nevada; the District of Alaska; and the District of Columbia, as well as the Department of Justice’s National Security Division and the Criminal Division.  Additionally, the FBI; HSI; the U.S. Drug Enforcement Administration; the Bureau of Alcohol, Tobacco, Firearms and Explosives; the United States Marshals Service; the U.S. Bureau of Prisons; and the United States Agency for International Development, Office of Inspector General have been essential law enforcement partners and spearheaded JTFV’s investigations.

    This case is part of Operation Take Back America and an Organized Crime Drug Enforcement Task Force (OCDETF) operation.  Operation Take Back America is a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations, and protect our communities from the perpetrators of violent crime.  Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF.

    The charges in the indictment are allegations and the defendant is presumed innocent unless and until proven guilty.  If convicted of the charges, Roman-Bardales faces up to life in prison or the possibility of the death penalty.

    The government’s case is being handled by the Criminal Section of the Office’s Long Island Division and as part of the work of the Office’s Transnational Criminal Organizations Strike Force.  Assistant United States  Attorneys Justina L. Geraci, Paul G. Scotti, and Megan E. Farrell are in charge of the prosecution, with assistance from Paralegal Specialist Kerryanne Ucci and Automated Litigation Specialist Michael Compitello. 

    The Defendant:

    FRANCISCO JAVIER ROMAN-BARDALES (also known as “Veterano de Tribus”)
    Age: 47
    Ahuachapán, El Salvador and Veracruz, Mexico

    E.D.N.Y. Docket No. 22-CR-429 (JMA)

    MIL Security OSI –

  • MIL-OSI Canada: Budget Delivers Record Revenue Sharing and Lowers Property Tax Rates

    Source: Government of Canada regional news

    Released on March 19, 2025

    All Saskatchewan communities and their residents share in the economic success of Saskatchewan through Municipal Revenue Sharing (MRS), which will be a record $361.8 million this year. This is an increase of $21.6 million, or 6.3 per cent, from the 2024-25 Budget.

    “Municipal Revenue Sharing remains a reliable and predictable tool for Saskatchewan municipalities to make investments they need to build strong and vibrant communities,” Government Relations Minister Eric Schmalz said. “Municipal Revenue Sharing can be used by those local governments to invest in services and programs that everyone in Saskatchewan relies on while keeping property taxes as low as possible.”

    MRS provides predictable, unconditional funding to Saskatchewan cities, towns, villages and rural municipalities based on three-quarters of one point of provincial sales tax revenue from two years prior. 

    At $361.8 million, the 2025-26 MRS program is 184 per cent higher than the revenue shared in the inaugural 2007-08 Budget at $127.3 million. More than $4.6 billion in provincial funding has been allocated to support municipalities through this program since 2007-08.

    The Government of Saskatchewan is also reducing the Education Property Tax (EPT) mill rates for all property classes to offset the impact of property revaluation. Total revenue to government will remain unchanged from the 2024-25 Budget, aside from base growth due to new construction in Saskatchewan.

    Property Class

    2024 Mill Rates

    2025 Mill Rates

    Agricultural

    1.42

    1.07

    Residential

    4.54

    4.27

    Commercial/Industrial

    6.86

    6.37

    Resource

    9.88

    7.49

    The reduction in all EPT mill rates is estimated to save Saskatchewan property owners more than $100.0 million annually. 

    For more information on the EPT mill rates, visit: https://www.saskatchewan.ca/residents/taxes-and-investments/property-taxes/education-property-tax-system.

    In addition to a record setting MRS investment, the 2025-26 Budget includes $172.0 million in municipal investments including:

    • $76.5 million for the provincial portion of the Investing in Canada Infrastructure Program (Government Relations);
    • $29.0 million in policing grants (Corrections, Policing and Public Safety);
    • $18.4 million for the Rural Integrated Roads for Growth (Highways);
    • $11.6 million grant to provincial Libraries (Education); and
    • $8.6 million for the Urban Connector Program (Highways).

    Residents can see MRS investment by community on the Saskatchewan dashboard under People and Community. Use the left-right toggle in the dashboard to see the historical investment for the province or by community. 

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    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI Canada: 2025-26 Budget: Delivering For You

    Source: Government of Canada regional news

    Released on March 19, 2025

    Saskatchewan’s 2025-26 Provincial Budget is delivering for the people of Saskatchewan.

    Deputy Premier and Finance Minister Jim Reiter tabled a budget today that delivers on the priorities of Saskatchewan people – affordability, health care, education, safer communities and responsible financial management – while addressing the challenges of a growing province.

    “We understand this budget is being delivered at a very volatile time, due to the constantly changing tariff threats from the United States,” Reiter said. “Right now, we do not know what tariffs the U.S. may impose or how long they may last. As a result, it was not possible to build the exact impact of tariffs into the budget.

    “However, we are not letting the tariff threat prevent us from following through on our commitments to the people of Saskatchewan. Our strong financial position means we are well-positioned to weather the impact of any tariffs that may be imposed on Canada and Saskatchewan.”

    As a signal of strong financial management, the Government of Saskatchewan is delivering a balanced budget in 2025-26, with a surplus of $12 million.

    Affordability

    In the 2025-26 Budget, the Government of Saskatchewan continues to take action to ensure the province remains the most affordable place in Canada to live, work, raise a family and start a business.

    The budget reduces income taxes for every resident, family and small business in the province. It also helps make life more affordable for seniors, families with children, persons with disabilities, caregivers, new graduates, first-time homebuyers and people renovating their homes.

    The taxation changes introduced in the 2025-26 Budget, including the initiatives in The Saskatchewan Affordability Act, provide over $250 million in tax savings this year. This is in addition to the more than $2 billion in affordability measures in each and every budget.

    The affordability measures in the 2025-26 Budget include those that help make life more affordable and those that support our growing province. Among the measures are:

    • Raising the basic personal exemption, spousal and equivalent-to-spousal exemption, dependent child exemption and the seniors supplement by $500 a year, for the next four years – over and above the impact of indexation – for the largest personal income tax reduction in the province since 2008;
    • Increasing monthly income assistance benefits by two per cent for Saskatchewan Income Support (SIS) and Saskatchewan Assured income for Disability (SAID) clients;
    • Increasing the Disability Tax Credit and Caregiver Tax Credit by 25 per cent;
    • Doubling the Active Families Benefit refundable tax credit from $150 to $300 per child and doubling the income threshold to qualify to $120,000 to make children’s sports, arts, cultural and recreational activities more affordable for more Saskatchewan families;
    • Reinstating the Home Renovation Tax Credit, which will allow homeowners to save up to $420 annually in home renovation expenses, while seniors undertaking home renovations can save up to $525; 
    • Increasing the Graduate Retention Program benefit by 20 per cent to a maximum of $24,000; and
    • Permanently maintaining the small business tax rate at one per cent, benefiting more than 35,000 small businesses in Saskatchewan and saving them over $50 million in corporate income taxes annually.

    Property owners will also receive relief in this year’s budget. All education property tax mill rates will be reduced to absorb the increase in property assessment values and ensure this assessment year is revenue neutral for the province in each property class. This change will save property owners in the province more than $100 million annually.

    This is in addition to the Government of Saskatchewan extending the carbon tax exemption on home heating, which is expected to save the average Saskatchewan family approximately $480 in 2025.

    Health Care

    The 2025-26 Budget delivers better patient access and safer, more responsive care for Saskatchewan residents.

    Over the last two years, the Government of Saskatchewan has invested $15.7 billion in health care in the province. In the 2025-26 Budget:

    • The Ministry of Health receives a record $8.1 billion, an increase of $485 million, or 6.4 per cent;
    • The Saskatchewan Health Authority receives an increase of $261 million, or 5.6 per cent, for a record $4.9 billion budget; and
    • The Saskatchewan Cancer Agency receives $279 million, an increase of $30 million, or 12.2 per cent.

    This funding will provide better access to acute care programs and services to improve patient outcomes, such as:

    • Reducing surgical wait times as part of an ambitious plan to perform 450,000 procedures over four years; and
    • Realigning services at Saskatoon City Hospital to address inpatient capacity pressures by opening more than 100 beds.

    Mental health and addictions programs and services receive $624 million – 7.7 per cent of the overall Health budget – to deliver critical support and investments in Saskatchewan, including an increase of $20 million for targeted initiatives. This includes continued progress on the multi-year Mental Health and Addictions Action Plan, and expanded access to mental health and addictions services and care by delivering on the commitment to add 500 addictions treatment spaces across the province, doubling the public health system’s capacity.

    To ensure the professionals are in place to provide health care services, this year’s budget accelerates the hiring of health care professionals through the Health Human Resources Action Plan.

    The 25-26 Budget also invests in steady and significant progress on multiple infrastructure projects.

    Due to the positive response to the Regina Urgent Care Centre, planning is underway for additional urgent care centres in Moose Jaw, Prince Albert and North Battleford, as well as second urgent care centres in Regina and Saskatoon. 

    The budget also provides new capital funding for the expansion of Complex Needs Emergency Shelters in new communities, building on the pilot projects in Regina and Saskatoon. 

    Overall, health capital funding will increase by $140 million, for a total of $657 million – the highest ever capital budget to deliver major health infrastructure projects.

    Education

    Kindergarten to Grade 12

    The 2025-26 Budget delivers increased opportunities and supports for kindergarten to Grade 12 students, parents and teachers across Saskatchewan. 

    Over the last two years, more than $5 billion has been invested in kindergarten to Grade 12 education. In this year’s budget, the Ministry of Education receives $3.5 billion, an increase of $184 million, or 5.5 per cent, over the previous year. That includes an increase of $186 million, or 8.4 per cent, in school operating funding for a total of $2.4 billion.

    The 2025-26 Budget also includes an increase of $130 million to fund the new teacher collective agreement and address growing student enrollment and the challenges facing today’s classrooms. 

    Building on the success of last year’s pilot project in eight Saskatchewan schools, the budget provides funding for 50 additional specialized support classrooms throughout the province. The specialized classrooms help reduce interruptions by providing additional supports to students who need them. 

    Student literacy is another area of emphasis in the 2025-26 Budget. Learning to read is one of the most valuable skills developed during childhood and sets the foundation for lifelong academic success. For this reason, this year’s budget provides additional funding to improve kindergarten to Grade 3 reading levels in Saskatchewan.

    The budget delivers on the challenges of student enrolment growth by investing in new schools with a $191 million school capital budget. This includes ongoing funding for the 21 new or consolidated schools and three major renovations underway across Saskatchewan, as well as funding to begin planning for one new replacement school and preplanning for four new schools in the Saskatoon area.

    Post-Secondary

    The 2025-26 Budget also supports students as they advance into post-secondary education. It provides opportunities that will allow students to pursue post-secondary education close to home while focusing on programs that meet the needs of Saskatchewan’s labour force and provincial economy.

    The Ministry of Advanced Education receives $788 million in this year’s budget, with $1.6 billion invested in post-secondary education over the past two years. As part of their budget, universities, technical schools, Indigenous institutions and regional colleges will receive $718 million in operating and capital funding.

    Health care training is a key priority as part of the province’s Health Human Resources Action Plan. New and expanded programs will help build a stronger health care workforce to meet the needs of Saskatchewan residents, including training seats in areas of critical need. This includes supporting:

    • 60 new training seats this year – more than 900 training seats overall – for nurse practitioners, registered psychiatric nurses and medical radiologic technologists; and
    • Four new training programs that will be ready to accept students in fall 2025 (physician assistant) and fall 2026 (speech-language pathology, occupational therapy, respiratory therapy).

    The 2025-26 Budget also delivers work on strategies to address veterinary services in rural and urban communities. This includes working toward an expansion of the Western College of Veterinary Medicine in the future.

    To help ensure predictable and stable funding for the province’s post-secondary institutions, the 2025-26 Budget extends the current multi-year funding agreement for an additional year. The extension will allow government and post-secondary institutions time to work through the potential impacts of the federal government’s reduction of foreign student visas, before engaging in another multi-year funding agreement.

    Community Safety

    The 2025-26 Budget delivers safer communities across the province by enhancing the presence of law enforcement in Saskatchewan. 

    Over the last two years, $2 billion has been invested into community safety. For the upcoming fiscal year, the Ministry of Corrections, Policing and Public Safety will receive $798 million, including $119 million for the Saskatchewan Public Safety Agency, while the Ministry of Justice and Attorney General will receive $271 million.

    Increases to the Municipal Police Grant Program will help frontline officers respond to more calls for service, while increased funding for the RCMP will support operations in the province and the RCMP First Nations Policing Program. The budget also includes funding for previous commitments for approximately 100 new municipal police officers, 14 new Safer Communities and Neighbourhoods personnel and funding for the Saskatchewan Police College to train more officers in the province.

    This enhanced law enforcement presence extends to the border with the United States. The Saskatchewan Border Security Plan was introduced in January 2025 to mobilize Provincial Protective Services officers to work in partnership with provincial policing services and federal agencies to boost law enforcement near the border.

    To complement the increased presence of law enforcement personnel, the 2025-26 Budget includes funding to improve safety for correctional staff, offenders and the public, as well as address capacity concerns at correctional facilities. 

    Additional investments will be made in interpersonal violence programs and services, including second-stage housing. The budget also delivers funding to create a more accessible court system for municipal bylaw offences and ensuring cases are complete and ready to move to trial more quickly. 

    Delivering More For You

    The 2025-26 Budget delivers on the priorities of affordability, health care, education, community safety and fiscal responsibility. However, it delivers more than that. Some of the other important initiatives in this year’s budget include:

    • A record $362 million in municipal revenue sharing, an increase of $22 million, or 6.3 per cent, from 2024-25.
    • New funding to start multi-year repair and renovation projects for 285 Saskatchewan Housing Corporation-owned units in Saskatoon, Regina and Prince Albert.
    • Funding for expanded homelessness services developed through the Provincial Approach to Homelessness. This includes investments in the Rental Development Program to partner with third-party organizations to develop new supportive housing units for people who need additional support to live independently.
    • Over the past two years, funding from the Ministry of Social Services has created 120 new emergency shelter spaces, 155 new supportive housing spaces, new street outreach services and an expanded income assistance mobile workforce serving clients on-site at more than 30 community-based organization locations.
    • A grant to the Food Banks of Saskatchewan to fulfill the Government of Saskatchewan’s two-year commitment to help families and food banks with high food costs.
    • A $20 million increase across government in funding for community-based organizations.
    • The creation of a new Saskatchewan Young Entrepreneur Bursary, which is an annual grant of $285,000 for a maximum of 57 bursaries distributed to support youth entrepreneurship in the province.
    • The creation of a new Small and Medium Enterprise Investment Tax Credit, a 45 per cent non-refundable tax credit for individuals or corporations that invest in the equity of an eligible Saskatchewan small and medium size enterprise.
    • Introduction of the Low Productivity and Reactivation Oil Well Program to encourage industry to make new capital investments in low-producing and inactive horizontal oil wells.
    • Investment in capital projects that will improve our provincial transportation system, including:
      • Passing lanes for Highway 10 between Fort Qu’Appelle and Melville, and Highway 17 north of Lloydminster;
      • Highway 39 twinning at Weyburn; 
      • Ongoing corridor improvements on Highway 5 east of Saskatoon; and 
      • Improvements of more than 1,000 kilometres of provincial highways.

    Fiscal Responsibility

    The surplus forecast for the 2025-26 Budget leaves Saskatchewan in one of the strongest financial positions among provinces.

    The surplus is driven by forecast revenues of $21.1 billion, an increase of $1.2 billion, or 6 per cent, compared to last year. Total expense is projected to be $21.0 billion, which is an increase of $909 million, or 4.5 per cent, from the 2024-25 Budget.

    Non-Renewable Resources revenue accounts for 12.8 per cent of total expense in this year’s budget. 

    Another sign of Saskatchewan’s strong financial position is the province’s net debt position, which remains the second lowest net debt-to-GDP ratio among Canadian provinces at 14.6 per cent. 

    The Government of Saskatchewan’s prudent financial management is also reflected in the province’s credit ratings. Saskatchewan currently maintains the second-best credit rating among the provinces when the ratings from the three major agencies – Moody’s Investors Service, Morningstar DBRS and S&P Global – are considered.

    Saskatchewan’s strong financial position in this year’s budget is buoyed by the provincial economy’s solid performance in 2024. Building upon this momentum, the Saskatchewan economy is expected to continue to grow in 2025 with real GDP projected to grow by 1.8 per cent according to the average private-sector forecast. 

    For more information on the 2025-26 Provincial Budget, please review the budget materials and ministry news releases on saskatchewan.ca/budget. 

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI Submissions: Africa Finance Corporation (AFC) Joins Ecobank and Soto Gallery for 2nd edition of the +234Art Fair to elevate African art and empower artists

    SOURCE: Africa Finance Corporation (AFC)

    Visitors will experience a wide range of artistic expressions, including painting, sculpture, visual and digital art, installations, and more

    LAGOS, Nigeria, March 19, 2025/ — Africa Finance Corporation (AFC) (www.AfricaFC.org), the leading infrastructure solutions provider in Africa, has announced its support for the +234Art Fair, coming on as partners for the second year in a row. This aligns with the Corporation’s commitment to empowering and elevating the continent’s youth, with more than 260 young artists expressing interest in exhibiting their works at the second edition of the international art fair, organized by Soto Gallery in collaboration with Ecobank Nigeria Limited, AFC and Craneburg Construction Company.

    This meticulously curated five-day event, titled “Championing Patronage in Nigerian Art,” will feature the works of emerging and un-galleried artists. The fair will run from March 27th to March 31st at the Ecobank Pan African Centre, located at 270B1, Ozumba Mbadiwe Avenue, Victoria Island, starting daily at 10:00 AM.

    Samaila Zubairu, President & CEO of the Africa Finance Corporation, stated, “The +234Art Fair aligns with AFC’s advocacy strategy of empowering and elevating Africa’s youthful population, thereby fostering job creation, skills development, value retention and rapid economic growth. We are proud to continue our collaboration with Ecobank to help drive Africa’s creative industry forward by creating a catalyst for promoting African art and artists locally and on the global stage.”

    Bolaji Lawal, Managing Director and Regional Executive, Ecobank Nigeria, shared, “As a Pan-African bank, this fair is an important initiative in our commitment to economic growth and investing in Africa’s next generation of talent. It offers emerging artists a unique opportunity to showcase their works to key decision-makers, influencers, and a global audience.”

    Mrs. Tola Akerele, Founder of +234 Art Fair and Soto Gallery Foundation, emphasized, “Patronage in the art world goes beyond financial support; it’s about building relationships that allow artists to grow and sustain their creative practices. The 2025 edition of the +234 Art Fair aims to show how meaningful support can impact an artist’s journey and the broader art ecosystem, fostering essential connections along the way.”

    The +234 Art Fair celebrates the dynamic talents of Nigeria’s emerging artists, offering them a vital platform to share their work with a broader audience. Visitors will experience a wide range of artistic expressions, including painting, sculpture, visual and digital art, installations, and more. The fair will also feature interactive workshops, panel discussions, and networking opportunities for artists, art enthusiasts, and key stakeholders in the creative sector.

    The event is expected to draw a diverse group of attendees, including Nigerians, Africans, international residents, government officials, policymakers, diplomats, and global art lovers.

    About AFC:
    AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.

    Seventeen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception.

    www.AfricaFC.org

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Energy – La Société Nationale des Pétroles du Congo (SNPC) Powers Congo’s Energy Growth, Set to Take Center Stage at Congo Energy & Investment Forum (CEIF) 2025

    SOURCE: Energy Capital & Power

    Société Nationale des Pétroles du Congo is driving Congo’s energy sector expansion, with Director General Maixent Raoul Ominga set to highlight the company’s role at the inaugural Congo Energy & Investment Forum

    BRAZZAVILLE, Congo (Republic of the), March 18, 2025/ — Maixent Raoul Ominga, Director General of Société Nationale des Pétroles du Congo, will deliver a keynote address at the inaugural Congo Energy & Investment Forum (CEIF) in Brazzaville this March. Leading the expansion of the Republic of Congo’s upstream sector, the national oil company is advancing key onshore assets across the country – including the Nanga I, Kouakouala II, Zingali II and Le Mayombe II fields – aligning with Congo’s goal of increasing oil production to 500,000 barrels per day by 2027.

    Under Ominga’s leadership, SNPC is a key supporter of CEIF 2025, with his participation underscoring the NOC’s growing influence in Africa’s energy sector and strengthening its role in on- and offshore exploration and production. As the company drives strategic investments and partnerships, SNPC continues to play a crucial role in positioning Congo as a competitive player in the regional energy landscape.

    The inaugural Congo Energy & Investment Forum, set for March 24-26, in Brazzaville, under the patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo, will bring together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities. The event will explore the latest gas-to-power projects and provide updates on ongoing expansions across the country.

    Last month, SNPC launched a $158 million bond issuance – the first in its securities issuance program – to bolster drilling activities and expand national oil production. In parallel, SNPC has partnered with the State Oil Company of the Republic of Azerbaijan to modernize the CORAF refinery. This initiative aims to boost refining capacity and product quality while aligning operations with environmental regulations, enhancing Congo’s energy security.

    At CEIF 2025, SNPC is set to unveil its Gas Master Plan, driving gas monetization through new infrastructure, including pipelines, processing facilities and gas-to-power plants. The Republic of Congo will also launch its licensing round for open oil and gas blocks, reinforcing efforts to increase hydrocarbon production and revenue diversification. Ominga’s participation at CEIF 2025 is pivotal in attracting investment to Congo’s energy sector, with the event serving as a platform for industry leaders, policymakers and investors to explore collaboration and new opportunities in the country’s growing oil and gas industry.

    “As Director General of SNPC, Ominga’s leadership is instrumental in shaping the future of Congo’s energy sector. His presence at CEIF 2025 offers a unique opportunity to engage with industry leaders and investors, fostering collaboration and driving sectoral growth,” says Sandra Jeque, Events and Project Director at Energy Capital & Power.

    MIL OSI – Submitted News –

  • MIL-OSI Asia-Pac: Government of India Taking Measures Against Online Pornography

    Source: Government of India

    Government of India Taking Measures Against Online Pornography

    New IT Rules Mandate Faster Removal of Harmful Online Content

    Posted On: 19 MAR 2025 9:44PM by PIB Delhi

    The policies of the Central Government are aimed at ensuring an open, safe, trusted and accountable Internet for its users.

    The Information Technology Act, 2000 (“IT Act”) provides punishment for publishing or transmitting obscene material and material containing sexually explicit act in electronic form. The IT Act also has stringent punishment for publishing or transmitting of material depicting children in sexually explicit act in electronic form.

    Also, the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (“IT Rules, 2021”) casts obligations on the intermediaries, including social media intermediaries, to observe due diligence and if they fail to observe such due diligence, they lose the exemption from their liability under law for third-party information or data or communication link hosted by them. Such due diligence includes that in case a significant social media intermediary is providing services primarily in the nature of messaging shall enable the identification of the first originator of the information on its computer resource for the purposes of prevention, detection, investigation, prosecution or punishment of an offence related to rape, sexually explicit material or child sexual abuse material.

    Such due diligence also includes that intermediaries shall remove within 24 hours any content which prima facie exposes the private area of any individual, shows such individual in full or partial nudity or shows or depicts such individual in any sexual act or conduct. Further, the rules provide for the establishment of one or more Grievance Appellate Committee(s) to allow users to appeal against decisions taken by Grievance Officers of social media intermediary on such complaints. 

    To ensure a good and healthy entertainment in accordance with the provisions of the Cinematograph Act 1952 and the Cinematograph (Certification) Rules 1983, Central Board of Film Certification (CBFC), regulates the public exhibition of films including adult films. According to the guidelines issued by them, films which are considered unsuitable for exhibition to non-adults shall be certified for exhibition to adult audiences only.

    Further for online publishers of curated content, the IT Rules, 2021 prescribes the code of ethics publishers of online curated content, commonly known as OTT Platforms. This code requires the OTT Platforms to classify content in specified age-appropriate categories, restrict access of age-inappropriate content by children, and implement an age verification mechanism for content classified as “Adult”.

    To further strengthen the mechanism to deal with such cybercrimes in a coordinated manner, the Government has also taken several other measures, including the following:

    (i) The Ministry of Home Affairs operates a National Cyber Crime Reporting Portal (www.cybercrime.gov.in) to enable citizens to report complaints pertaining to all types of cybercrimes, with special focus on cybercrimes against children. The Ministry has also set up the Indian Cyber Crime Coordination Centre (I4C) to deal with all types of cybercrime, including cybercrime against children, in a coordinated and comprehensive manner.

    (ii)  The Ministry of Home Affairs has provided financial assistance to States and Union territories under the Cyber Crime Prevention against Women and Children Scheme for capacity building, including for the setting up of cyber forensic-cum-training laboratories and training of personnel of law enforcement agencies, public prosecutors and judicial officers.

    (iii) Government has from time to time blocked websites containing child sexual abuse material (CSAM), based on lists from Interpol received through the Central Bureau of Investigation, India’s national nodal agency for Interpol.

    (iv) Government has issued an order to Internet Service Providers, directing them to implement Internet Watch Foundation, UK or Project Arachnid, Canada list of CSAM websites/webpages on a dynamic basis and block access to such web pages or websites.

    (v) The Dep artment of Telecommunications has requested Internet Service Providers (ISPs) to spread awareness among their subscribers about the use of parental control filters, and has also directed ISPs with International Long-Distance license to block certain websites found to be containing CSAM.

    (vi) To spread awareness on cybercrime, the Ministry of Home Affairs has taken several steps that include dissemination of messages on cybercrime through the Twitter handle @cyberDost, radio campaigns and publishing of a Handbook for Adolescents/Students.

    (vii) A MoU has been signed between the National Crimes Record Bureau (NCRB), Ministry of Home Affairs (MHA) and National Center for Missing and Exploited Children (NCMEC), USA regarding sharing of Tipline reports on online child explicit material and child sexual exploitation contents from NCMEC. The Tip lines, as received from NCMEC, are being shared with States/UTs online through the National Cybercrime Reporting Portal for taking further action.

    This information was given by the Union Minister of Railways, Information & Broadcasting and Electronics & Information Technology Shri Ashwini Vaishnaw in a written reply in Lok Sabha today.

    ***

    Dharmendra Tewari/Navin Sreejith

    (Release ID: 2113098) Visitor Counter : 36

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Government of India Expands AI-Driven Skilling

    Source: Government of India

    Government of India Expands AI-Driven Skilling
    India AI Mission Gains Momentum with 67 Proposals for Indigenous AI Models

    Digital India Bhashini Initiative Boosts AI-Powered Vernacular Language Accessibility

    Posted On: 19 MAR 2025 9:40PM by PIB Delhi

    The Government of India emphasizes the concept of ‘AI for All,’ aligning with the Hon’ble Prime Minister’s vision to democratise the use of technology. This initiative aims to ensure that AI benefits all sectors of society, driving innovation and growth.

    India is regarded as the skills capital in technology and Artificial Intelligence. The most reliable ranking in AI is placing India among the top countries with AI Skills, AI capabilities, and policies to use AI. Stanford University has ranked India among the top four countries along with the US, China, and the UK in the Global and National AI vibrancy ranking based on 42 indicators. GitHub, which is community of developers has ranked India at the top with the global share of 24% of all projects.

    Government is committed to harnessing the power of Artificial Intelligence (AI) for the good of our people in various sectors. At the same time, the Government is cognizant of the risks posed by AI and the need to create guardrails to ensure that AI is safe and trusted.

    The Government of Maharashtra has informed that Meta’s AI model is an informational chatbot which is currently in its preliminary stage.

    Union Cabinet led by Hon’ble Prime Minister has approved the IndiaAI Mission on 7th March 2024, a strategic initiative to establish a robust and inclusive AI ecosystem that aligns with the country’s development goals. This mission is driven by a vision to position India as a global leader in artificial intelligence by focusing on seven foundational pillars: IndiaAI Compute, IndiaAIFutureSkills, IndiaAI Startup Financing, IndiaAI Innovation Centre, IndiaAI Datasets Platform, IndiaAI Applications Development Initiative and Safe & Trusted AI.

    One of the key pillars of the IndiaAI Mission is IndiaAI Innovation Centre (IAIC), under which IndiaAI on 30th January, 2025, launched a Call for Proposals inviting proposals from startups, researchers, and entrepreneurs to collaborate on building state-of-the-art foundational AI models trained on Indian datasets. The initiative aims to establish indigenous AI models that align with global standards while addressing unique challenges and opportunities within the Indian context.

    In the first month, IndiaAI Mission has received a total of 67 proposals till 15th February 2025 aimed at building India’s foundation models, with contributions from both established startups and new teams of researchers & academia. 22 are focused on Large Language Models (LLMs) & Large Multimodal Models (LMMs), while the remaining 45 are centered on domain-specific models (SLMs). The majority of SLMs target key sectors such as healthcare, education, and financial services. Along with funding support, a wide range of GPUs have been requested by teams submitting these proposals.

    Further, Government of India through MeitY implemented the Digital India Bhashini initiative to provide Artificial Intelligence (AI) driven language technology solutions through the Bhashini platform (https://bhashini.gov.in) for all 22 Scheduled Indian Languages including Marathi, providing voice-based access, and to assist in the creation of content in Indian languages. Digital India Bhashini aims to build speech-to-speech machine translation systems for various Indian languages and dialects and to evolve a Unified Language Interface (ULI). This initiative enabled citizens to access digital services in their vernacular languages, further increasing digital inclusion and accessibility, as recommended in SDG 10 (Reduce inequality within and among countries). In collaboration with over 70 research institutes, Bhashini has been at the forefront of developing state-of-the-art language AI models for Indian languages. The platform currently hosts over 350 AI-based language models, encompassing Automatic Speech Recognition (ASR), Machine Translation (MT), Text-to-Speech (TTS), Optical Character Recognition (OCR), and other services like Transliteration and Textual Language Detection, covering over 17+ language services.

    Additionally, IndiaAI in collaboration with Meta has announced the establishment of the Center for Generative AI, Srijan (सृजन) at IIT Jodhpur, along with the launch of the “YuvAi Initiative for Skilling and Capacity Building” in collaboration with the All India Council for Technical Education (AICTE), for the advancement of open source artificial intelligence (AI) in India. The partnership will enable development of indigenous AI applications, advance skill development in AI, boost research capabilities with the aim of contributing to India’s AI mission of ensuring tech sovereignty and the vision of building AI solutions that are tailor-made for India. Through education, capacity building, and policy advisory, the Government of India will be empowering the next generation of researchers, students, and practitioners with the knowledge and tools necessary for the responsible development and deployment of GenAI technologies.

    The Government of India is focused to meet the growing demand for professionals in emerging fields like data science and Artificial Intelligence (AI), some of the initiatives by the Government of India to integrate Al and cybersecurity training into existing skill development programs are as under:

    • MeitY through CERT-In conducts joint cybersecurity training programs in collaboration with Industry partners to upskill the cybersecurity workforce in Government, public and private organizations with the latest skills. Technical training sessions in the area of AI-powered cybersecurity threats were conducted with experts from Industry to help the participants understand the latest threat landscape and best practices. Also, CERT-In provided expert support in the Gen AI Exchange Hackathon organized by industry partners for working professionals, student developers, freelancers and entrepreneurs in October 2024.
    • MeitY has initiated ‘FutureSkills PRIME’ a programme for Re-skilling/Up-skilling of IT Manpower for Employability in new/emerging technologies namely Artificial Intelligence, Robotic Process Automation, Augmented/Virtual Reality, Internet of Things, Big Data Analytics, Additive Manufacturing/ 3D Printing, Cloud Computing, Social & Mobile, Cyber Security, and Blockchain. Under the FutureSkills Prime program, there are 119 courses specifically focused on the cutting-edge fields of Artificial Intelligence (AI).
    • MeitY launched the Visvesvaraya PhD Scheme in 2014 with the objective of enhancing the number of PhDs in the country to compete globally in the knowledge-intensive sectors of Electronics System Design and Manufacturing (ESDM) and IT/IT Enabled Services (IT/ITES). Under the scheme, financial support is provided to Full-time & Part-time PhD candidates and Young Faculty who are undertaking research and technology development. The Scheme also provides infrastructure support to institutions.
    • MeitY through IndiaAIFutureSkills Pillar aims to increase the number of graduates, postgraduates, and PhD scholars in the AI domain while establishing Data and AI Labs in Tier 2 and Tier 3 cities to offer foundational courses in Data and AI. As part of this initiative, IndiaAI Fellowships are awarded to students pursuing relevant undergraduate and postgraduate programs at Private or Centrally Funded Technical Institutes (CFTIs) recognized by AICTE, NBA, NAAC, or UGC. So far, 150 undergraduate students, 48 postgraduate students, and 3 PhD scholars have been selected for the fellowship. Additionally, IndiaAI has set up Data Labs at NIELIT’s Delhi centre and ICIT, Nagaland, with plans to establish 27 more labs in collaboration with NIELIT across Tier 2 and Tier 3 cities, details of which are placed in Annexure I.

    This information was given by the Minister of State for Electronics & Information Technology Shri Jitin Prasada in a written reply in Lok Sabha today.

     

    ******

     

    Annexure I

    List of Data & AI labs planned by IndiaAI in collaboration with NIELIT in Tier 2 and Tier 3 cities across the country:

    S.No.

    NIELIT Centre

    State/UT

    1

    Gorakhpur

    Uttar Pradesh

    2

    Lucknow

    Uttar Pradesh

    3

    Shimla

    Himachal Pradesh

    4

    Aurangabad

    Maharashtra

    5

    Patna

    Bihar

    6

    Buxar

    Bihar

    7

    Muzaffarpur

    Bihar

    8

    Kurukshetra

    Haryana

    9

    Ropar

    Punjab

    10

    Haridwar

    Uttarakhand

    11

    Bikaner

    Rajasthan

    12

    Tezpur

    Assam

    13

    Bhubaneswar

    Odisha

    14

    Calicut

    Kerala

    15

    Guwahati

    Assam

    16

    Itanagar

    Arunachal Pradesh

    17

    Srinagar

    J&K

    18

    Jammu

    J&K

    19

    Ranchi

    Jharkhand

    20

    Imphal

    Manipur

    21

    Gangtok

    Sikkim

    22

    Agartala

    Tripura

    23

    Aizawl

    Mizoram

    24

    Shillong

    Meghalaya

    25

    Kohima

    Nagaland

    26

    Leh

    Ladakh

    27

    Silchar

    Assam

     

    Dharmendra Tewari/Navin Sreejith

    *******

    (Release ID: 2113095) Visitor Counter : 29

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: HKETO holds spring reception in Tokyo to celebrate arrival of spring and flower blossom season (with photos)

    Source: Hong Kong Government special administrative region

    HKETO holds spring reception in Tokyo to celebrate arrival of spring and flower blossom season  
    Speaking to guests from various sectors including Japanese political and business circles, academia, media and community groups, the Principal Hong Kong Economic and Trade Representative (Tokyo), Miss Winsome Au, said that Hong Kong and Japan have strengthened economic and trade relations, flourished through collaborations on different fronts, and made shared achievements together in the past year.
     
    She noted that Hong Kong was the fifth-largest inbound tourist source market for Japan, reaching more than 2.68 million tourists for 2024, and remained the second-largest export market for Japanese agricultural, forestry and fishery products in the year.
     
    “With direct connections to 15 airports in Japan, and soon 18, we are confident that our people-to-people exchanges will continue to grow,” Miss Au added.
     
    On the business front, she noted that over 1 430 Japanese companies operate in Hong Kong, making them the largest group from overseas. Notably, Invest Hong Kong has attracted over 500 enterprises outside Hong Kong to set up in the city in 2024, with more renowned Japanese brands expanding their presence.
     
    She also updated the guests of the latest developments of Hong Kong, and shared with them the Hong Kong Special Administrative Region Government’s measures to fast-track Hong Kong’s economy through reform and innovation in the 2025-26 Budget and the 2024 Policy Address.
     
    The spring reception was organised by the Hong Kong Economic and Trade Office (Tokyo), and supported by Invest Hong Kong, the Hong Kong Trade Development Council and the Hong Kong Tourism Board.
    Issued at HKT 23:09

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: “Govt Plans Sagarmala 2.0 with New Funding to Bridge Infrastructure Gaps”: Sarbananda Sonowal

    Source: Government of India (2)

    “Govt Plans Sagarmala 2.0 with New Funding to Bridge Infrastructure Gaps”: Sarbananda Sonowal

    “Govt Invests ₹5.79 Trillion under Sagarmala to Develop 839 Projects in India”: Sarbananda Sonowal 

    Sagarmala Start Up Innovation Initiative (S2I2) Launched at NSAC, to Foster Innovation & Entrepreneurship in Maritime Sector

    4th National Sagarmala Apex Committee Meet Decides to Boost Port Led Development 

     “Modi Government Committed to Maritime Sector Transformation Under Maritime Amrit Kaal Vision Roadmap (MAKV 2047)”: Sarbananda Sonowal 

     “Maritime sector will witness a new wave of RISE — Research, Innovation, Startups, and Entrepreneurship”: Sarbananda Sonowal

    Posted On: 19 MAR 2025 7:54PM by PIB Delhi

    The 4th National Sagarmala Apex Committee (NSAC) meet decided to boost port led development and enhance maritime infrastructure of the country. The meet reviewed the implementation status of key projects under the “Sagarmala” — the flagship programme of the Ministry of Ports, Shipping & Waterways (MoPSW). 

    The Ministry is executing 839 projects worth ₹5.79 lakh crore under the Sagarmala Programme, with 272 projects already completed at an investment of ₹1.41 lakh crore. Under Sagarmala, 234 port modernisation projects worth ₹2.91 lakh crore are underway, with 103 projects completed, adding 230 MTPA capacity. In connectivity, 279 projects worth ₹2.06 lakh crore are being implemented, with 92 projects completed, boosting 1,500 km of port links. Port-led industrialisation saw 14 projects worth ₹55,000 crore, with 9 completed. Over 310 projects worth ₹26,000 crore under Coastal Community Development and Inland Waterways have benefitted 30,000+ fishermen and coastal infrastructure. The Ministry has also provided ₹10,000 crore for 119 projects across coastal states and UTs under Sagarmala.

    Speaking on the occasion, the Union Minister of Ports, Shipping and Waterways, Shri Sarbananda Sonowal said, “Sagarmala has been a game-changer in unlocking the true potential of India’s maritime sector.  Under the visionary leadership of Prime Minister Shri Narendra Modi ji, the huge value of maritime sector, that remained neglected for decades, was realised with Sagarmala. As we move towards Sagarmala 2.0, our focus is on bridging critical infrastructure gaps with fresh investments, driving coastal economic growth, and positioning India as a global maritime leader in line with the Hon’ble Prime Minister Modiji’s vision for a Viksit and Atmanirbhar Bharat by 2047.”

    Sagarmala 2.0 is a visionary upgrade with a new focus on shipbuilding, repair, breaking, and recycling. Backed by ₹40,000 crore in budgetary support, it aims to catalyse investments worth ₹12 lakh crore over the next decade.

    Sagarmala has made India’s ports faster, boosted the coastal economy, revived inland waterways, and improved global logistics rankings. Coastal shipping grew 118% in a decade, Ro-Pax ferries moved over 40 lakh passengers, and inland waterway cargo rose 700%. Nine Indian ports rank in the world’s top 100, with Vizag in the top 20 container ports. Indian ports now outperform many advanced maritime nations on key metrics.

    The meet was held under the chairmanship of the Union Minister of MoPSW, Shri Sarbananda Sonowal who was joined by the Union Minister of Road Transport and Highways (MoRTH), Shri Nitin Gadkari; the Vice Chairman, Niti Aayog, Suman Bery. The Chief Minister of Goa, Dr Pramod Sawant as well as ministerial representation from Gujrat, Maharashtra, Karnataka, Andhra Pradesh, and Andaman & Nicobar islands. The meeting witnessed key discussions on the progress and future roadmap of the Sagarmala Programme, aiming to strengthen port-led development and enhance India’s maritime infrastructure.

    A major highlight of the meeting was the launch of the Sagarmala Startup Innovation Initiative (S2I2), a forward-looking program aimed at accelerating innovation and entrepreneurship in the maritime sector. S2I2 aims at empowering startups working in areas such as green shipping, smart ports, maritime logistics, shipbuilding technology, and sustainable coastal development. The initiative will offer funding, mentorship, and industry partnerships to nurture cutting-edge solutions. Through S2I2, the maritime sector will witness a new wave of RISE — Research, Innovation, Startups, and Entrepreneurship — driving economic growth and unlocking transformative technological advancements. Through initiatives like S2I2 and Sagarmala 2.0, India reaffirms its commitment to maritime excellence and sustainable coastal growth.

    Over the past 10 years, the Sagarmala Programme has significantly advanced India’s maritime infrastructure. More than 100 port modernisation projects, valued at approximately ₹32,600 crore, have added 230 MTPA to port capacity. Additionally, over 80 port connectivity projects worth around ₹52,000 crore have enhanced 1,500 km of connectivity to ports. Under the Coastal Community Development pillar, fishing harbour projects have positively impacted over 30,000 fishermen. Furthermore, the Ministry has extended financial support to 119 projects worth approximately ₹10,000 crore across coastal States and Union Territories (UT) under the Sagarmala scheme.

    Speaking further, Shri Sarbananda Sonowal said, “In line with the Prime Minister Shri Narendra Modi ji’s vision, our ministry is working to transform India’s maritime sector by 2047 through initiatives such as the Maritime Amrit Kaal Vision (MAKV). It aspires to position India among the world’s top five shipbuilding nations by adding 4 million GRT of shipbuilding capacity. It also targets expanding port handling capacity to 10 billion metric tons annually, representing the most significant growth trajectory ever for India’s maritime industry.”

    NSAC was constituted in May 2015 for planning and implementation of Port Led Development under Sagarmala project. NSAC is the apex body for policy direction and oversight of the Sagarmala Programme. The 4th NSAC meeting saw review of the implementation status of key projects under the Sagarmala pillars of port modernisation, port industrialisation, port connectivity, coastal shipping and coastal community development. Senior officials from the MoPSW, NITI Aayog, Ministry of Road Transport & Highways, and other line Ministries along with senior representatives from the States and UTs participated in the deliberations. The Sagarmala Programme aims to reduce logistics costs for EXIM and domestic trade by enhancing port-led development, improving port efficiency, and promoting coastal economic zones. With the successful conclusion of the 4th NSAC meeting, the Government of India reaffirmed its commitment to maritime excellence, sustainable coastal development, and fostering innovation through targeted interventions such as S2I2 and Sagarmala 2.0.

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    GDH/HR

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  • MIL-OSI Asia-Pac: CCI invites comments from public in respect of proposed combination between Bharat Forge Limited and AAM India Manufacturing Corporation Private Limited

    Source: Government of India

    Posted On: 19 MAR 2025 6:42PM by PIB Delhi

    The Competition Commission of India has invited comments from public in respect of proposed combination between Bharat Forge Limited and AAM India Manufacturing Corporation Private Limited.

    On 23rd October, 2024, the Competition Commission of India (Commission) received a notice given by the Bharat forge Limited (BFL) under sub-section (2) of Section 6 of the Competition Act 2002 for the proposed acquisition of one hundred per cent (100%) shareholding of AAM India Manufacturing Corporation Private Limited (AAMCPL) and full and sole control over the Target [including e-axle assembly lines that the Target will acquire from AAM Auto Component (India) Private Limited (AAM Auto)] by BFL (Proposed Combination)  [Collectively, BFL and AAMCPL are referred to as ‘Parties’].

    BFL is a global provider of safety and critical forged components and solutions to various sectors including automotive, railways, defence, construction, mining, aerospace, marine, and oil & gas. Certain promoters of BFL, through BF Investments Ltd., have 48.99% and 35.52% equity shareholding in Meritor HVS (India) Limited (MHVSIL) and Automotive Axles Limited (AAL) (collectively referred to as ‘Affiliate JVs’), two joint ventures with Meritor Heavy Vehicle Systems, LLC (acquired by Cummins Inc. in 2022), in India. AAMCPL is a company incorporated in India and is primarily engaged in the business of manufacture and sale of axles for commercial vehicles (CVs) in India. Affiliate JVs are also engaged in the manufacture and sale of axles for CVs in India.

    The Commission is of the prima facie opinion that the proposed combination is likely to have an appreciable adverse effect on competition and, accordingly, has directed the Parties, in terms of Section 29(2) of the Competition Act, 2002, to publish details of the combination for bringing the combination to the knowledge or information of the public and persons affected or likely to be affected by such combination.

    The Parties have already published the details of the proposed combination in all India editions of four newspapers viz., Mint, The Financial Express, Hindustan Times and The Indian Express on 19th March 2025 and the same is also hosted on the website of the Parties. The said details are also available on the website of the Commission (www.cci.gov.in).

    As per the provisions of Section 29(3) of the Act, the Commission invites comments/objections/ suggestions in writing, from any person(s) adversely affected or likely to be affected by the proposed combination.  The same may be addressed to the Secretary, Competition Commission of India, Competition Commission of India, 9th Floor, Office Block – 1, Kidwai Nagar (East)
    New Delhi: 110023, India or through email: secy@cci.gov.in, within ten days from the date of publication of details of the proposed combination.

    The Commission is not likely to consider unsubstantiated objections.

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    NB/AD

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  • MIL-OSI Asia-Pac: Two Days National Seminar cum Exhibition on Organic Farming

    Source: Government of India

    Two Days National Seminar cum Exhibition on Organic Farming

    Safe Food for Healthy Life

    Posted On: 19 MAR 2025 4:29PM by PIB Delhi

    A “Two Days National Seminar cum Exhibition on Organic Farming” was organized by the National Centre for Organic & Natural Farming (NCONF), Ghaziabad, on 18-19 March 2025 at Ghaziabad. The program and exhibition were inaugurated by the Chief Guest, Sh. K.M.S. Khalsa, Director (Finance) – Ministry of Agriculture & Farmers Welfare, Government of India, along with Dr. Gagnesh Sharma, Director, NCONF, and Dr. A.K. Yadav, Advisor, Ministry of Agriculture & Farmers Welfare, in the presence of Dr. Bharat Bhushan Tyagi, Padmashree, Sh. Gopal Bhai Sutariya from Bansi Gir Gaushala, Ahmedabad and officers from NCONF and RCONFs.

    The Chief Guest, Sh. K.M.S. Khalsa, in his deliberation, emphasized the significance of organic farming and its growing importance in today’s world. He assured support for the promotion and implementation of proposals related to Organic and Natural Farming will be considered on priority. On this instance “Manual of Organic Farming” and “Souvenir” were released.

    Dr. Gagnesh Sharma, Director of NCONF, delivered the keynote address. He outlined the current status and achievements of NCONF in the domain of Organic and Natural Farming. Dr. Sharma also discussed the importance of certification, organic input quality management, and highlighted the potential opportunities for marketing organic and natural products to help in boosting the income of farmer.

    Dr. A.K. Yadav shared insights on the status of organic farming in India and motivated farmers and stakeholders to participate in the production and processing of organic produce for both domestic and international markets. He stated, it would be helpful to strengthen farmers as well as nation’s economy.

    Padmashree Dr. Bharat Bhushan Tyagi spoke about the promotion of organic farming at the village as a cluster based approach. He emphasized moving beyond a cluster-based approach to improve the adaptability of organic farming and bring more land under organic certification.

    Sh. Gopal Bhai Sutariya focused on the importance of cow-based natural farming and its potential. He introduced the “Gaukripa Krishi” model, explaining how farmers can adopt natural and organic farming practices. He assured that this model would be available to all stakeholders free of cost.

    The two-day conference featured four sessions altogether eighteen deliberations covering key objectives related to organic farming. These sessions brought together policymakers, researchers, academia, progressive farmers, innovators, entrepreneurs, industries, and other stakeholders. They shared knowledge and experiences on enhancing the role of Farmers’ Producer Organizations (FPOs) and processor groups in sustainable agri-food systems. Discussions also included the use of innovative farmer-friendly technologies, certification, processing, and marketing of organic produce. On this occasion champion farmers across the country were felicitated. On this occasion 23 exhibitors across the country showcased their achievements and activities towards the promotion and creating awareness Organic and Natural Farming.    

    Officers from Regional Centres of Organic & Natural Farming (RCONFs) in Ghaziabad, Nagpur, Bengaluru, Bhubaneswar, and Imphal also participated in the event. More than 200 participants, including champion farmers from across the country, attended the program.

    The session concluded with a vote of thanks, acknowledging the valuable contributions of all speakers and participants.

    The session concluded with a vote of thanks, acknowledging the valuable contributions of all speakers and participants.

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    MG/ KSR

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  • MIL-OSI Asia-Pac: Several steps taken to enhance implementation of NMDFC schemes across the nation

    Source: Government of India (2)

    Posted On: 19 MAR 2025 5:05PM by PIB Delhi

    The disbursement target of National Minorities Development and Finance Corporation (NMDFC) for the financial year 2024-25 is Rs. 850.00 crore and NMDFC has disbursed Rs. 752.23 crore to over 1,74,148 beneficiaries till 10th March 2025.

    NMDFC has delegated the authority to its State Channelizing Agencies (SCAs) to sanction, disburse & recover loan from beneficiaries. The beneficiaries are selected as per following eligibility criteria for release of concessional credit:

    1. Person should belong to notified National Minority viz., Buddhists, Christians, Jains, Muslims, Parsis and Sikhs as per National Commission for Minorities Act, 1992.
    2. Person having annual family income of upto Rs. 3.00 lakhs under Credit Line 1 and upto Rs. 8.00 lakhs under Credit Line 2.

    The applicants are required to submit the necessary documents for meeting the above eligibility criteria. To ensure that credit support reaches genuine and deserving minority beneficiaries, the SCAs have adopted a multi-level screening mechanism for document verification, background checks & site inspections before sanction of loan. Further, the sanctioned amount is released through Direct Benefit Transfer (DBT) into the KYC authenticated beneficiary account.

    In order to enhance the implementation of NMDFC schemes across the nation, following steps have been taken by NMDFC:

    1. Enhancing the annual family income limit under Credit Line 1 from Rs. 98,000/- in  rural areas & Rs. 1,20,000/- in urban areas to Rs. 3.00 lakh per annum in both rural & urban areas.
    2. Introduction of new Annual Family Income eligibility criterion of up to Rs.8.00 lakh per annum for greater coverage of persons from the targeted minority communities.
    3. Quantum of loan under Term Loan scheme increased from Rs.10.00 lakh to Rs.30.00 lakh while under Micro Finance scheme, it has been increased from Rs.50,000/- to Rs.1.50 lakh per Self Help Group member.  Under Education Loan scheme, the quantum of loan has been increased from Rs.5.00 lakh to Rs.20.00 lakh for domestic courses & from Rs.10.00 lakh to Rs.30.00 lakh for courses abroad.
    4. Introduction of Virasat Scheme to meet the credit requirement of Artisans belonging to target group.
    5. Self-Declaration/Self Certification/Self Attestation of documents is introduced in case of Religion Certificate, Family Income, Residence Proof, Mark Sheet, etc.
    6. Transfer of loan directly in Bank Account of Beneficiary through NEFT/RTGS.
    7. Insurance of beneficiary and their assets to safeguard against any untoward incident.
    8. Signing of MoU with Canara Bank, Union Bank of India, Indian Bank & Punjab Gramin Bank to increase the outreach of NMDFC schemes in the States/UTs where SCAs are non-functional.
    9. NMDFC has also developed MILAN Software to streamline and digitize the loan and accounting processes between applicants, State Channelizing Agencies (SCAs) and NMDFC.

    This information was given by the Union Minister of Minority Affairs & Parliamentary Affairs, Shri Kiren Rijiju in a written reply in the Lok Sabha today.

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    SS/ISA

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  • MIL-OSI Asia-Pac: Cabinet approves Revised National Program for Dairy Development (NPDD)

    Source: Government of India

    Posted On: 19 MAR 2025 4:24PM by PIB Delhi

    The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has today approved the Revised National Program for Dairy Development (NPDD).

    The Revised NPDD, a Central Sector Scheme, has been enhanced with an additional Rs.1000 crore, bringing the total budget to Rs.2790 crore for the period of the 15th Finance Commission cycle (2021-22 to 2025-26). This initiative focuses on modernizing and expanding dairy infrastructure, ensuring the sector’s sustained growth and productivity.

    The revised NPDD will give an impetus to the dairy sector by creating infrastructure for milk procurement, processing capacity, and ensuring better quality control. It is intended to help farmers gain better access to markets, to ensuring better pricing through value addition, and improve the efficiency of the supply chain, leading to higher incomes and greater rural development.

    The scheme consists of two key components:

    1.    Component A is dedicated to improving essential dairy infrastructure, such as milk chilling plants, advanced milk testing laboratories, and certification systems. It also supports the formation of new village dairy cooperative societies and strengthens milk procurement and processing in the North Eastern Region (NER), hilly regions, and Union Territories (UTs), especially in remote and backward areas, as well as the formation of 2 Milk Producer Companies (MPCs) with dedicated grant support

    2.    Component B, known as “Dairying through Cooperatives (DTC)”, will continue to foster dairy development through cooperation with the Government of Japan and Japan International Cooperation Agency (JICA) as per agreements signed. This component focuses on the sustainable development of dairy cooperatives, improving production, processing, and marketing infrastructure in the nine States (Andhra Pradesh, Bihar, Madhya Pradesh, Punjab, Rajasthan, Telangana, Uttarakhand, Uttar Pradesh, and West Bengal).

    The implementation of NPDD started has made huge socio-economic impact already benefiting over 18.74 lakh farmers and has created over 30,000 direct and indirect jobs and increase milk procurement capacity by an additional 100.95 lakh liters per day. The NPDD has also supported in promoting cutting-edge technology for better milk testing and quality control. Over 51,777 village-level milk testing laboratories have been strengthened, while 5,123 bulk milk coolers with a combined capacity of 123.33 lakh liters have been installed. In addition, 169 labs have been upgraded with Fourier Transform Infrared (FTIR) milk analysers, and 232 dairy plants now have advanced systems for detecting adulteration.

    The Revised NPDD is expected to establish 10,000 new Dairy Cooperative Societies, processing in the North Eastern Region (NER), as well as the formation of 2 Milk Producer Companies (MPCs) with dedicated grant support in addition to the ongoing projects of NPDD, to   generate an additional 3.2 lakh direct and indirect employment opportunities, particularly benefiting women, which constitute 70% of the dairy workforce.

    The Revised National Programme for Dairy Development will transform India’s modern infrastructure, in sync with White Revolution 2.0 and will further support the newly formed cooperatives by providing new technology, and quality testing labs. This program will help improve rural livelihoods, generate jobs, and build a stronger, more resilient dairy industry that benefits millions of farmers and stakeholders across the country.

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    MJPS/BM

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  • MIL-OSI Asia-Pac: GOVERNMENT STRIVING TO IMPROVE SOCIO-ECONIMIC STATUS OF ALL COMMUNITIES INCLUDING MINORITY COMMUNITIES

    Source: Government of India

    Posted On: 19 MAR 2025 4:15PM by PIB Delhi

    The Government of India has been striving to improve the socio-economic status of all communities, including minority communities, through various schemes and incentives through a saturation model, thereby ensuring that socio-economic status of all communities at par with the national mainstream. The Ministry of Minority Affairs specifically implements various schemes across the country for socio-economic and educational empowerment of the six (6) centrally notified minority communities. These schemes are meant for the weaker segments of minority. The schemes/programmes implemented by Minority Affairs for the welfare of minority communities are as under:

    1.  Educational Empowerment Schemes

    (i) Pre-Matric, (ii) Post-Matric and (iii) Merit-cum-Means based scholarships

    2.  Employment and Economic Empowerment Schemes

         (i) Pradhan Mantri Virasat Ka Samvardhan (PM VIKAS)

         (ii) Equity to National Minorities Development and Finance Corporation (NMDFC) for

               providing concessional loans to minorities.

    3. Infrastructural Development Scheme

      (i) Pradhan Mantri Jan Vikas Karyakaram (PMJVK)

    All the schemes together have contributed in the acquisition of high-level skills, greater opportunities in livelihood, high employability potential, improved access to better infrastructure, improved health and in the overall welfare of the Minority Communities.

    This information was given by the Union Minister of Minority Affairs & Parliamentary Affairs, Shri Kiren Rijiju in a written reply in the Lok Sabha today.

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    SS/ISA

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