NewzIntel.com

Category: India

  • MIL-OSI Security: Nespelem Man Sentenced to Four Years in Prison for Assaulting His Intimate Partner with a Firearm and Attempted Witness Tampering

    Source: US FBI

    Spokane, Washington – Acting United States Attorney Richard R. Barker announced that Jered Shay Picard, age 35, of Nespelem, Washington, was sentenced after pleading guilty to Assault with a Dangerous Weapon in Indian Country and Attempted Witness Tampering. United States District Judge Thomas O. Rice sentenced Picard to 48 months in prison to be followed by three years of supervised release.

    According to court documents and information presented at the sentencing hearing, on December 13, 2024, Picard got into a fight with the victim, his intimate partner. The victim locked herself inside a pickup truck to get away from Picard. Picard then pointed a rifle at the victim’s face before firing a shot into the sky. When the victim tried to start the truck and escape, Picard shot out the front driver side tire so she could not leave. The victim recorded the incident on video. 

    The next morning, the Colville Tribal Police Department located and arrested Picard and booked him into jail.

    During several jail telephone calls with the victim, Picard told her to tell investigators she did not want to press charges, avoid meeting with the FBI, delete the video of the incident, and tell investigators she and Picard were drunk at the time of the incident. Picard also implied the victim should not show up to court if the case was federally prosecuted.

    “Mr. Picard’s actions were both life-threatening and deeply disturbing,” said Acting U.S. Attorney Richard R. Barker. “He used a firearm to terrorize his intimate partner and then attempted to manipulate her into obstructing justice. This sentence reflects the grave danger posed by armed domestic abusers—not only to their current victims, but to future partners and to the integrity of the justice system itself.”

    “Mr. Picard’s violent and intimidating actions were inexcusable, continuing in an aggressive and dangerous pursuit even when his victim tried to flee in a vehicle. He then compounded his crimes by continuing to intimidate the victim in a brazen attempt to avoid accountability for his actions,” said W. Mike Herrington, Special Agent in Charge of the FBI Seattle field office. “I hope this sentence provides the first steps to closure and reinforces our commitment to combatting violent crime in all its forms. Along with our partners, the FBI is dedicated to making our state’s tribal lands a safer place.”

    Data shows that offenders with domestic violence in their past pose a high risk of homicide. In fact, domestic violence abusers with a gun in the home are five times more likely to kill their partners, and in addition to their lethality, firearms are used by abusers to inflict fear, intimidation, and coercive control. Additionally, when a violent intimate partner has access to a firearm, nonfatal abuse may increase in severity, even when firearms are not directly used in a violent incident.

    This case was investigated by the FBI and the Colville Tribal Police Department. It was prosecuted by Special Assistant United States Attorney Michael L. Vander Giessen.

    2:25-cr-00013-TOR

    MIL Security OSI –

  • MIL-OSI Banking: ICC champions multilateralism at BRICS Business Forum 

    Source: International Chamber of Commerce

    Headline: ICC champions multilateralism at BRICS Business Forum 

    Speaking on behalf of more than 45 million companies worldwide, Mr Denton took part in a high-level panel looking at sustainable financial strategies for the BRICS Development Agenda, underscoring the urgent need for cooperative solutions to global challenges. 

    During his visit to Brazil, on 4 July, Mr Denton contributed to the closing sessions of the BRICS Business Council’s Working Groups, including an intervention in the Trade and Investment Working Group. He also took part in the 10th Annual Meeting of the New Development Bank (NDB)’s Board of Governors.    

    ICC’s first time participation in the BRICS Forum comes at a pivotal moment for the Group. A new ICC report conducted in partnership with Oxford Economics presents a sobering assessment of the risks posed by the erosion of the multilateral trading system – particularly for BRICS economies.  

    Projected impacts include: 

    • Sharp export losses: Non-fuel goods exports could fall by 45% in Brazil, 41% in India, 36% in China, 34% in South Africa, 26% in Indonesia, and 21% in Egypt. 
    • Economic contraction: GDP losses ranging from 3.5% to 6% across these economies. 
    • Decline in foreign investment: FDI reductions of up to 6% in the most exposed markets. 

    This underscores the imperative for BRICS and other economies to take action and revitalise the multilateral trading system, something Mr Denton underscored throughout his engagements in Brazil.  

    Mr Denton said:

    “ICC’s engagement with the BRICS business community reinforces its role as the voice of the real economy, ensuring business drives solutions for peace, prosperity and opportunity across emerging markets.” 

    4 ways ICC has engaged in the BRICS process in 2025 

    1. Participation in BRICS Business Council Working Groups 

    Several ICC leaders contributed to BRICS Business Council Working Groups, shaping policy recommendations in areas including trade and investment, manufacturing, energy and climate, financial services and infrastructure, transport, and logistics. 

    1. BRICS Business Council Secretariat policy support   

    ICC provided business insights for the 2025 BRICS Business Council Annual Report, which aligns with ICC’s international policy priorities, particularly regarding the revitalisation of the multilateral trading system.  

    1. Joint BRICS-ICC Initiative on SME Trade Integration   

    ICC and BRICS Business Council Trade and Investment Working Gorup collaboration resulted in the launch of a joint initiative aimed at enhancing the integration of BRICS SMEs in international trade, leveraging the ICC Centre of Entrepreneurship and ICC One Click gateway for trade tools, solutions and  guides for SMEs to export and grow globally. 

    1. Supporting the BRICS Solutions Awards 

    ICC promoted the BRICS Solutions Awards through its global network of national committees and chambers of commerce. These Awards recognise innovative projects advancing climate change mitigation, environmental sustainability, and the responsible use of natural resources across BRICS countries. 

    MIL OSI Global Banks –

  • PM Modi meets Bolivian President Luis Arce Catacora on sidelines of BRICS Summit in Rio

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Monday met with the President of the Plurinational State of Bolivia, Luis Arce Catacora, on the sidelines of the BRICS Summit in Rio de Janeiro, Brazil.

    The two leaders reviewed the status of bilateral cooperation and expressed satisfaction with the progress achieved across various sectors. They discussed collaboration in critical minerals, trade and commerce, Digital Public Infrastructure and the Unified Payments Interface (UPI), health and pharmaceuticals, traditional medicine, small and medium industries, training, and capacity building.

    Both leaders recognised the scope for expanding cooperation in the critical minerals sector and underlined the need to build sustainable and mutually beneficial partnerships in this area. They also expressed satisfaction with the ongoing development cooperation between the two countries, including the implementation of Quick Impact Projects and capacity-building initiatives under India’s ITEC scholarship programme.

    The Prime Minister conveyed his solidarity with the people of Bolivia in the wake of the severe flooding that affected La Paz and several other regions in March-April this year.

    PM Modi also welcomed Bolivia’s decision to join the International Solar Alliance and extended his warm greetings to the people and Government of Bolivia on the country’s upcoming bicentennial, marking 200 years of independence on 6 August 2025.

  • PM Modi meets Bolivian President Luis Arce Catacora on sidelines of BRICS Summit in Rio

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Monday met with the President of the Plurinational State of Bolivia, Luis Arce Catacora, on the sidelines of the BRICS Summit in Rio de Janeiro, Brazil.

    The two leaders reviewed the status of bilateral cooperation and expressed satisfaction with the progress achieved across various sectors. They discussed collaboration in critical minerals, trade and commerce, Digital Public Infrastructure and the Unified Payments Interface (UPI), health and pharmaceuticals, traditional medicine, small and medium industries, training, and capacity building.

    Both leaders recognised the scope for expanding cooperation in the critical minerals sector and underlined the need to build sustainable and mutually beneficial partnerships in this area. They also expressed satisfaction with the ongoing development cooperation between the two countries, including the implementation of Quick Impact Projects and capacity-building initiatives under India’s ITEC scholarship programme.

    The Prime Minister conveyed his solidarity with the people of Bolivia in the wake of the severe flooding that affected La Paz and several other regions in March-April this year.

    PM Modi also welcomed Bolivia’s decision to join the International Solar Alliance and extended his warm greetings to the people and Government of Bolivia on the country’s upcoming bicentennial, marking 200 years of independence on 6 August 2025.

  • MIL-OSI: EMGS – Vessel activity and multi-client sales update for the second quarter 2025

    Source: GlobeNewswire (MIL-OSI)

    Electromagnetic Geoservices ASA (the “Company” or “EMGS”) releases information on vessel activity and multi-client sales during the quarter approximately 4-5 working days after the close of each quarter. The Company defines vessel utilisation as the percentage of the vessel charter period spent on proprietary or multi-client data acquisition. Downtime (technical or maritime), mobilisation, steaming, and some standby activities are not included in the utilisation rate.  

    At the end of the second quarter 2025 the Company had one vessel on charter, the Atlantic Guardian. The Atlantic Guardian completed the second of two proprietary surveys in India in the quarter and started transit back to Norway for three fully prefunded multi-client surveys in the North Sea with a total contract value of USD 2.7 million.

    The utilization for the second quarter was 44% compared with 51% for the second quarter 2024. 

    EMGS had one vessel in operation and recorded 3.0 vessel months in the quarter. In the second quarter 2024, the Company recorded 3.0 vessel months.

    Multi-client revenues in the second quarter
    The Company expects to record approximately USD 200,000 in multi-client late sales in the second quarter of 2025.

    EMGS will publish its second quarter 2025 financial results on Wednesday 13 August 2025 prior to 07:30 local time (Norway). A recorded presentation will also be made available over the Internet. To access the presentation, please go to the Company’s homepage (www.emgs.com) and follow the link.

    Contact
    Anders Eimstad, Chief Financial Officer, +47 948 25 836

    This information is published in accordance with the Norwegian Securities Trading Act § 5-12.

    About EMGS
    EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The Company’s services enable the integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface. This improves exploration efficiency and reduces risks and the finding costs per barrel. CSEM technology can also be used to detect the presence of marine mineral deposits (primarily Seabed Massive Sulphides) and in other offshore construction and exploration activity.

    The MIL Network –

  • PM Modi meets Uruguayan President Orsi on sidelines of BRICS Summit in Rio

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi met with the President of the Oriental Republic of Uruguay, Yamandu Orsi, on the sidelines of the BRICS Summit in Rio de Janeiro, Brazil.

    During their meeting, the two leaders held wide-ranging discussions covering the full spectrum of bilateral relations. They reviewed cooperation in areas such as digital collaboration, information and communication technology (ICT), Digital Public Infrastructure and Unified Payments Interface (UPI), defence, railways, health and pharmaceuticals, agriculture, energy, culture, and people-to-people exchanges.

    A major focus of their talks was on strengthening bilateral trade and investment. Both sides expressed keen interest in expanding the India-MERCOSUR Preferential Trade Agreement, aiming to unlock greater economic potential and harness trade complementarities between India and Uruguay.

    The Prime Minister also conveyed his gratitude to President Orsi for Uruguay’s strong condemnation of the recent terrorist attack in Pahalgam and appreciated the country’s solidarity with India in the fight against terrorism in all its forms.

    The meeting reaffirmed the commitment of both countries to build a forward-looking and robust bilateral partnership.

  • We will define BRICS in new form under India’s chairmanship: PM Modi in Brazil

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Monday said India would redefine the BRICS grouping under its upcoming chairmanship.

    Addressing the BRICS Summit in Brazil, PM Modi said, “Under India’s BRICS Chairmanship, we will define BRICS in a new form. BRICS would mean ‘Building Resilience and Innovation for Cooperation and Sustainability.’”

    PM Modi affirmed that India would carry forward the spirit of people-centric progress during its leadership of the bloc comprising Brazil, Russia, India, China, and South Africa.

    “In the coming year, under India’s BRICS Chairmanship, we will continue close cooperation on all subjects,” the PM said.

    The Prime Minister underlined how India’s presidency of the G20 elevated the concerns of the developing world and promised a similar approach for BRICS.

    “Just as during our G-20 Presidency, we ensured inclusivity and prioritised issues of the Global South in the agenda,” he said. “In the same way, during our BRICS Chairmanship, we will take this forum forward with a people-centric approach and the spirit of ‘Humanity First.’”

    This message of unity and collaboration was reflected earlier in the day, as Prime Minister Modi, along with other BRICS leaders, partners, and outreach invitees, gathered for the traditional family photo at the 17th BRICS Summit in Rio de Janeiro on Monday morning (local time).

    The summit brought together leaders and representatives from BRICS nations and partner countries to discuss cooperation and strategic partnerships, marking a moment of unity and collaboration among the countries the grouping represents.

    Hosted by Brazil from July 7 to July 9, the summit saw leaders from Brazil, Russia, India, China, South Africa, and new members Egypt, Ethiopia, Iran, the UAE, and Indonesia come together for the event. Prime Minister Modi participated in the 17th BRICS Summit held in Rio de Janeiro, Brazil, on July 6-7, 2025, the Prime Minister’s Office (PMO) said in a statement.

    During the summit, the leaders held productive discussions on various issues on the BRICS agenda, including the reform of global governance, enhancing the voice of the Global South, peace and security, strengthening multilateralism, development issues, and Artificial Intelligence.

    PM Modi thanked the President of Brazil for his warm hospitality and the successful organisation of the summit.

    (ANI)

  • We will define BRICS in new form under India’s chairmanship: PM Modi in Brazil

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Monday said India would redefine the BRICS grouping under its upcoming chairmanship.

    Addressing the BRICS Summit in Brazil, PM Modi said, “Under India’s BRICS Chairmanship, we will define BRICS in a new form. BRICS would mean ‘Building Resilience and Innovation for Cooperation and Sustainability.’”

    PM Modi affirmed that India would carry forward the spirit of people-centric progress during its leadership of the bloc comprising Brazil, Russia, India, China, and South Africa.

    “In the coming year, under India’s BRICS Chairmanship, we will continue close cooperation on all subjects,” the PM said.

    The Prime Minister underlined how India’s presidency of the G20 elevated the concerns of the developing world and promised a similar approach for BRICS.

    “Just as during our G-20 Presidency, we ensured inclusivity and prioritised issues of the Global South in the agenda,” he said. “In the same way, during our BRICS Chairmanship, we will take this forum forward with a people-centric approach and the spirit of ‘Humanity First.’”

    This message of unity and collaboration was reflected earlier in the day, as Prime Minister Modi, along with other BRICS leaders, partners, and outreach invitees, gathered for the traditional family photo at the 17th BRICS Summit in Rio de Janeiro on Monday morning (local time).

    The summit brought together leaders and representatives from BRICS nations and partner countries to discuss cooperation and strategic partnerships, marking a moment of unity and collaboration among the countries the grouping represents.

    Hosted by Brazil from July 7 to July 9, the summit saw leaders from Brazil, Russia, India, China, South Africa, and new members Egypt, Ethiopia, Iran, the UAE, and Indonesia come together for the event. Prime Minister Modi participated in the 17th BRICS Summit held in Rio de Janeiro, Brazil, on July 6-7, 2025, the Prime Minister’s Office (PMO) said in a statement.

    During the summit, the leaders held productive discussions on various issues on the BRICS agenda, including the reform of global governance, enhancing the voice of the Global South, peace and security, strengthening multilateralism, development issues, and Artificial Intelligence.

    PM Modi thanked the President of Brazil for his warm hospitality and the successful organisation of the summit.

    (ANI)

  • MIL-OSI Russia: China-Pakistan relations are not directed against third parties – Chinese Foreign Ministry

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    BEIJING, July 7 (Xinhua) — China and Pakistan are close neighbors with traditionally friendly relations, and defense and security cooperation is part of normal interaction between the two countries and is not directed against third parties, Chinese Foreign Ministry spokesperson Mao Ning said on Monday.

    The diplomat made this statement at a regular briefing for journalists, answering a relevant question.

    She stressed that India and Pakistan are and will always remain neighbors to each other. Both countries are also important neighbors of China. According to Mao Ning, in recent weeks and months, the Chinese side has closely followed the developments between India and Pakistan, actively promoted peace talks, and made efforts to maintain peace and stability in the region.

    China welcomes and supports India and Pakistan in properly handling their differences and seeking fundamental solutions through dialogue and consultation, Mao Ning said, adding that China is willing to continue to play a constructive role to achieve this goal.

    Speaking about relations between China and India, Mao Ning noted that they are “at a key stage of improvement and development.” “China is ready to work with India to advance bilateral relations along the path of healthy and sustainable development,” the official representative of the Chinese Foreign Ministry assured. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: China makes representation to India over its actions in Xi Jinping

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    BEIJING, July 7 (Xinhua) — China has made representations to India over its actions regarding Xizang and urged the Indian side to exercise caution in words and deeds and stop using Xizang issues to interfere in China’s internal affairs, Foreign Ministry spokesperson Mao Ning said on Monday.

    According to media reports, Indian Prime Minister Narendra Modi sent greetings to the 14th Dalai Lama on the occasion of his 90th birthday, which was celebrated on July 6. The Indian government was represented at the celebrations by officials, including the Minister for Parliamentary Affairs.

    Commenting on the relevant information at a daily press briefing, Mao Ning said the Chinese government’s position on issues related to Xizang is consistent and clear.

    “As is known, the 14th Dalai Lama is a political exile who has been engaged in anti-Chinese separatist activities for a long time and strives to separate Xi Jinping from China under a religious flag,” the diplomat noted.

    India needs to fully understand the sensitivity of the Xizang-related issues, clearly see through the anti-China and separatist nature of the 14th Dalai Lama’s activities, firmly abide by India’s commitments to China on the Xizang-related issues, exercise caution in words and deeds, and stop using the Xizang issue to interfere in China’s internal affairs, Mao Ning stressed. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Security: The New England Strike Force Joins Nationwide Crackdown on Health Care Fraud

    Source: US FBI

    CONCORD- Acting U.S. Attorney Jay McCormack, together with Acting U.S. Attorneys Michael P. Drescher of the District of Vermont and Craig M. Wolff of the District of Maine, announces a sweeping enforcement action aimed at combatting health care fraud across New England. The enforcement action is a result of the collaboration and partnership between the Districts of New Hampshire, Vermont, and Maine, and the New England Strike Force.

    The New England Strike Force charged six defendants in connection with unrelated allegations including conspiracies to defraud the State of New Hampshire’s Medicaid program (NH Medicaid), Medicare, and other federal benefit programs, totaling over $14 million. The charges filed in federal court throughout New England are part of the Department of Justice’s 2025 National Health Care Fraud Takedown. The charges stem from various schemes, including a previously convicted social worker who submitted claims to NH Medicaid following his disbarment from billing federal health care programs, a conspiracy to submit false and fraudulent claims to Medicare for wrist, knee, and back braces and other equipment that were medically unnecessary, and a conspiracy to fulfill illegitimate prescriptions for drugs including Ozempic.

    The schemes charged in the District of New Hampshire include:

    Previously Convicted Felon Charged in New Scheme Fraudulently Billing Medicaid and Exploiting a Vulnerable Patient

    • United States v. Erik Alonso: Erik Alonso, age 54, of Miami, Florida, was charged by indictment with eight counts of health care fraud in connection with an alleged scheme to submit claims to NH Medicaid, despite being barred from billing federally funded health care programs following a previous heath care fraud related conviction in 2015. Alonso failed to disclose his exclusion to his employer, a Laconia, New Hampshire-based telehealth psychotherapy provider, and purportedly provided psychotherapy treatments to NH Medicaid beneficiaries between March 2022 and July 2024 via telehealth. In addition, Alonso allegedly exploited a psychotherapy patient by using purported psychotherapy sessions to seek and obtain assistance from that client with personal tasks, including preparing an application for a presidential pardon of his prior conviction and assisting him with applying for licensure in other New England states.  The case is being prosecuted by DOJ Trial Attorneys Danielle Sakowski, Thomas Campbell, and John Howard, and Assistant United States Attorney Matthew Vicinanzo of the U.S. Attorney’s Office for the District of New Hampshire.

    Straw Owner of Health Care Company Used to Commit Fraud and Launder Illicit Proceeds

    • United States v. Leo Anzivino Jr.: Leo Anzivino, Jr., age 34, of Teaticket, MA, was charged by indictment with conspiracy to commit health care fraud, conspiracy to commit money laundering, and four counts of money laundering in connection with an alleged scheme to fraudulently obtain over $6 million in Medicare funds. According to the indictment, Anzivino, Jr. acted as the straw owner of a durable medical equipment (“DME”) company, Advanced Medical Supply (Advanced), and conspired with others to cause the submission of false and fraudulent claims to Medicare for DME.  The indictment further alleges that Anzivino falsified bank account documents, including beneficial ownership information, and conspired to launder fraudulent funds from the DME scheme to conceal and disguise the nature, source, origin, and control of the proceeds of the DME fraud.  Anzivino, Jr., made four transfers from one Advanced account at a New Hampshire bank to another Advanced account at a Massachusetts bank, totaling over $3 million dollars, to conceal a co-conspirator’s control over the funds. The government seized approximately $353,768.29 in assets tied to the alleged scheme.  This case is being prosecuted by DOJ Trial Attorneys Danielle Sakowski, Thomas Campbell, and Tiffany Wynn, and Assistant United States Attorney Matthew Vicinanzo of the U.S. Attorney’s Office for the District of New Hampshire.

    The schemes charged in the District of Vermont include:

    Global Pharma and Money Laundering Scheme

    • United States v. Manthan Rohit Shah: Manthan Rohit Shah, 37, of Mumbai, India, was charged by indictment with misbranding prescription medication, conspiring to import controlled substances, and conspiring to commit international concealment money laundering.  As alleged in the indictment, Shah owned and operated Company-1, a pharma company based in Mumbai, India. Company-1 allegedly shipped controlled substances and misbranded pharmaceutical drugs, including drugs that contained potentially potent, dangerous, and/or addictive substances, into New England and across the United States.  Shah and Company-1 used fake prescriptions to provide a veneer of legitimacy for customer orders, despite the customers never obtaining such prescriptions.  Shah undertook various acts in furtherance of the drug conspiracy. For example, on or about May 6, 2025, Shah sent a text message to an undercover law enforcement agent regarding Company-1’s fulfillment of illegitimate prescriptions for 50 pens of the drug Ozempic, costing approximately $6,200, to be shipped from a location outside the United States to an address in Vermont.  Shah also conspired with others to direct the shipment of pharmaceutical drugs without valid prescriptions to a network of online pharmacies and call centers that fulfilled orders placed by customers in New England and across the United States. Shah then conspired with others to launder the funds from financial accounts in the United States, through shell companies, and to Shah’s company in India.  The case is being prosecuted by DOJ Trial Attorneys Patrick Brown, John Howard, and Thomas Campbell.

    Health Care Scheme Involving Purchase of Tulum Penthouse, High-Volume Cash Withdrawals

    • United States v. Evelyn Herrera: Evelyn Herrera, 61, of Loxahatchee, Florida, was charged by complaint with conspiracy to commit health care fraud in connection with an alleged scheme to fraudulently obtain approximately $6.5 million in Medicare funds.  According to the charging documents, Herrera, the owner of Merida Medical Supplies Inc., a purported DME company, submitted false and fraudulent claims to Medicare from individuals residing across New England for wrist, knee, and back braces and other equipment, which were medically unnecessary and ineligible for reimbursement by Medicare.  After the funds from these fraudulent services were deposited into a bank account controlled by Herrera, she allegedly conducted financial transactions and attempted to conceal the source, origin, and control of the health care fraud proceeds generated by Merida. For example, Herrera allegedly sent an international wire from her bank account, indicating it was to be used to purchase property in Mexico, and sent other funds to a cryptocurrency wallet that she controlled.  During the scheme, the Centers for Medicare and Medicaid Services (“CMS”) issued a payment suspension to Herrera for suspected fraud, after which Herrerra allegedly attempted to withdraw large amounts of cash from a bank and siphon funds off to other individuals.  The case is being prosecuted by Trial Attorneys Sarah Rocha, Thomas Campbell, and Tiffany Wynn.  The complaint was filed in the District of Vermont.

    Health Care CEO Indicted in Cross-Border Health Care Fraud Scheme

    • United States v. Donald Jani: Donald Jani, 39, of Maharashtra, India, was charged by indictment with health care fraud and conspiracy to commit health care fraud in connection with an alleged scheme to fraudulently obtain approximately $1.9 million in Medicare funds.  According to the indictment, Jani, the CEO of CSS Pain Relief, Inc., a purported DME company, submitted false and fraudulent claims to Medicare for DME.  Jani and his co-conspirators allegedly used the personal identifying information of elderly and disabled New England residents to fraudulently bill Medicare.  As part of the conspiracy, Jani unlawfully used the personal identifying information of medical providers in the District of Vermont and elsewhere to create the false appearance that the DME claims were premised on legitimate medical orders. The case is being prosecuted by Trial Attorneys Sarah Rocha, John Howard and Thomas Campbell.  The indictment was brought in the District of Vermont.

    The scheme charged in the District of Maine includes:

    Individual Charged in Health Care and Identity Theft Scheme

    • United States v. Joseph Dobie: Joseph Dobie, 36, of Lewiston, Maine, was charged by complaint with aggravated identity theft, false statements relating to health care matters, and unlawful use of Supplemental Nutritional Assistance Program (“SNAP”) benefits in connection with an identity-theft scheme. As alleged in the complaint, Dobie used a stolen identity to fraudulently obtain Medicaid and SNAP benefits in Maine, while simultaneously receiving SNAP benefits in New York.  The case is being prosecuted by Assistant United States Attorney Nicholas Scott. The complaint was filed in the District of Maine.

    Additionally, the New England Strike Force provided valuable support in a nationwide investigation:

    Operation Gold Rush: Transnational Criminal Organization-Led Health Care Fraud and Money Laundering Scheme

    Outside of New Hampshire, Vermont, and Maine, the New England Strike Force also supported a nationwide investigation, Operation Gold Rush, which resulted in charges in the Eastern District of New York, the Northern District of Illinois, the Central District of California, the Middle District of Florida, and the District of New Jersey against 19 defendants in connection with the largest loss amount ever charged in a health care fraud case brought by the Department at $10.6 billion. Twelve of these defendants have been arrested, including four defendants who were apprehended in Estonia as a result of international cooperation with Estonian law enforcement and seven defendants who were arrested at U.S. airports and the U.S. border with Mexico, cutting off their intended escape routes as they attempted to avoid capture. The criminal case is being prosecuted by DOJ Fraud Section Assistant Chiefs Kevin Lowell and Shankar Ramamurthy, and Trial Attorneys Sara Porter, Andres Almendarez, Leonid Sandlar, Monica Cooper, Thomas Campbell, Danielle Sakowski, and Matthew Belz.  Trial Attorney Sara Porter initiated the investigation, which has been supported by members of multiple Strike Forces. The civil forfeiture proceeding is being prosecuted by Assistant U.S. Attorney David C. Nelson of the District of Connecticut and Money Laundering and Asset Recovery Section Trial Attorneys Emily Cohen and Chelsea Rooney. Office of Public Affairs | National Health Care Fraud Takedown Results in 324 Defendants Charged in Connection with Over $14.6 Billion in Alleged Fraud | United States Department of Justice

    These charges are part of a strategically coordinated, nationwide law enforcement action that resulted in criminal charges against 324 defendants for their alleged participation in health care fraud and illegal drug diversion schemes that involved the submission of over $14.6 billion in intended loss and over 15 million pills of illegally diverted controlled substances. The defendants allegedly defrauded programs entrusted for the care of the elderly and disabled to line their own pockets. The United States has seized over $245 million in cash, luxury vehicles and other assets in connection with the takedown. Descriptions of each case involved in the national enforcement action are available at Criminal Division | 2025 National Health Care Fraud Takedown.

    The New England Strike Force’s cases are the result of investigations conducted by the Federal Bureau of Investigation; the United States Department of Health and Human Services, Office of Inspector General; the Food and Drug Administration, Office of Criminal Investigations; Internal Revenue Service Criminal Investigation; and the United States Department of Defense Office of Inspector General, Defense Criminal Investigative Service.

    Leveraging advanced data analytics, forensic accounting, interagency collaboration, and subject-matter expertise, the New England Strike Force investigates and prosecutes complex health care fraud and money laundering schemes across the region, focusing on both individuals and corporations engaged in criminal conduct. DOJ Fraud Section Assistant Chief Kevin Lowell leads the Strike Force.

    The details contained in the charging document are allegations. The defendant is presumed to be innocent unless and until proven guilty beyond a reasonable doubt in the court of law.

    ###

    MIL Security OSI –

  • Norwegian carbon storage model may shape India’s net-zero path: Hardeep Puri

    Source: Government of India

    Source: Government of India (4)

    Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, said on Monday that the government is exploring various projects in Norway to leverage its expertise to upgrade and expand India’s energy capabilities.

    “In our continued quest to provide momentum to India’s efforts to achieve energy security under the leadership of Prime Minister Narendra Modi, I visited the Northern Lights CO₂ Terminal in Bergen, Norway. It is the largest project for carbon storage funded by the Norwegian government and partnered by Equinor, Shell & Total Energies,” Puri said in a post on X.

    “We are reviewing this and similar projects to upgrade and expand India’s energy capabilities. Norway’s expertise in deepwater exploration, seismic oil surveys, offshore wind, and carbon capture and storage (CCS) technologies aligns well with India’s ambitious energy transition agenda,” Puri added.

    He pointed out that Norway’s unique terminal in Bergen can store up to 100 million tonnes of carbon dioxide. It has an open and flexible infrastructure to transport CO₂ from capture sites by ship to a receiving terminal in western Norway for intermediate storage, before being transported by pipeline for safe and permanent storage in a reservoir 110 km offshore and 2,600 metres under the seabed.

    Carbon capture and storage (CCS) technology involves capturing carbon dioxide (CO₂) emissions from industrial sources like power plants and factories, transporting it, and then storing it underground to prevent its release into the atmosphere. This process is a key strategy for reducing greenhouse gas emissions and mitigating climate change.

    The process involves separating CO₂ from other gases at the source of emission, such as power plants or industrial facilities. Different capture methods exist, including post-combustion capture (separating CO₂ from flue gas), pre-combustion capture (separating CO₂ before fuel combustion), and oxy-fuel combustion (burning fuel with pure oxygen).

    The captured CO₂ is typically compressed into a supercritical state (liquid-like) to be transported via pipelines, ships, or other means. The CO₂ is then injected deep underground into geological formations like depleted oil and gas reservoirs, saline aquifers, or other suitable rock formations.

    These formations are chosen to ensure the CO₂ remains trapped and isolated from the atmosphere for long periods.

    CCS is a crucial technology for mitigating climate change by preventing CO₂ from entering the atmosphere. It can help decarbonise industries that produce significant CO₂ emissions, such as cement and steel production.

    IANS

  • MIL-OSI Submissions: Nations are increasingly ‘playing the field’ when it comes to US and China – a new book explains explains why ‘active nonalignment’ is on the march

    Source: The Conversation – Global Perspectives – By Jorge Heine, Outgoing Interim Director of the Frederick S. Pardee Center for the Study of the Longer-Range Future, Boston University

    Brazil President Luiz Inacio Lula da Silva, center, flanked by India Prime Minister Narendra Modi, left, and South Africa President Cyril Ramaphosa, speaks at the summit of Group of 20 leading economies in Rio de Janeiro on Nov. 19, 2024. Mauro Pimentel/AFP via Getty Images

    In 2020, as Latin American countries were contending with the triple challenges of the COVID-19 pandemic, a global economic shock and U.S. policy under the first Trump administration, Jorge Heine, research professor at Boston University and a former Chilean ambassador, in association with two colleagues, Carlos Fortin and Carlos Ominami, put forward the notion of “active nonalignment.”


    Polity Books

    Five years on, the foreign policy approach is more relevant than ever, with trends including the rise of the Global South and the fragmentation of the global order, encouraging countries around the world to reassess their relationships with both the United States and China.

    It led Heine, along with Fortin and Ominami, to follow up on their original arguments in a new book, “The Non-Aligned World,” published in June 2025.

    The Conversation spoke with Heine on what is behind the push toward active nonalignment, and where it may lead.

    For those not familiar, what is active nonalignment?

    Active nonalignment is a foreign policy approach in which countries put their own interests front and center and refuse to take sides in the great power rivalry between the U.S. and China.

    It takes its cue from the Non-Aligned Movement of the 1950s and 1960s but updates it to the realities of the 21st century. Today’s rising Global South is very different from the “Third World” that made up the Non-Aligned Movement. Countries like India, Turkey, Brazil and Indonesia have greater economic heft and wherewithal. They thus have more options than in the past.

    They can pick and choose policies in accordance with what is in their national interests. And because there is competition between Washington and Beijing to win over such countries’ hearts and minds, those looking to promote a nonaligned agenda have greater leverage.

    Traditional international relations literature suggests that in relations between nations, you can either “balance,” meaning take a strong position against another power, or “bandwagon” – that is, go along with the wishes of that power. The notion was that weaker states couldn’t balance against the Great Powers because they don’t have the military power to do so, so they had to bandwagon.

    What we are saying is that there is an intermediate approach: hedging. Countries can hedge their bets or equivocate by playing one power off the other. So, on some issues you side with the U.S., and others you side with China.

    Thus, the grand strategy of active nonalignment is “playing the field,” or in other words, searching for opportunities among what is available in the international environment. This means being constantly on the lookout for potential advantages and available resources – in short, being active, rather than passive or reactive.

    So active nonalignment is not so much a movement as it is a doctrine.

    Tunisian President Habib Bourguiba, right, and Egyptian President Gamal Abdel Nasser attend the first Conference of Non-Aligned Countries in Belgrade, Yugoslavia, in September 1961.
    Keystone/Hulton Archive/Getty Images

    It’s been five years since you first came up with the idea of active nonalignment. Why did you think it was time to revisit it now?

    The notion of active nonalignment came up during the first Trump administration and in the context of a Latin America hit by the triple-whammy of U.S. pressure, a pandemic and the ensuing recession – which in Latin America translated into the biggest economic downturn in 120 years, a 6.6% drop of regional gross domestic product in 2020.

    ANA was intended as a guide for Latin American countries to navigate those difficult moments, and it led us to the publication of a symposium volume with contributions by six former Latin American foreign ministers in November 2021, in which we elaborated on the concept.

    Three months later, with the Russian invasion of Ukraine and the reaction to it by many countries in Asia and Africa, nonalignment was back with a vengeance.

    Countries like India, Pakistan, South Africa and Indonesia, among others, took positions that were at odds with the West on Ukraine. Many of them, though not all, condemned Russian aggression but also wanted no part in the West’s sanctions on Moscow. These sanctions were seen as unwarranted and as an expression of Western double standards – no sanctions were applied on the U.S. for invading Iraq, of course.

    And then there were the Hamas attacks on Israel on Oct. 7, 2023, and the resulting war in the Gaza Strip. Countries across the Global South strongly condemned the Hamas attacks, but the West’s response to the subsequent deaths of tens of thousands of Palestinians brought home the notion of double standards when it came to international human rights.

    Why weren’t Palestinians deserving of the same compassion as Ukrainians? For many in the Global South, that question hit very hard – the idea that “human rights are limited to Europeans and people who looked like them did not go down well.”

    Thus, South Africa brought a case against Israel in the International Court of Justice alleging genocide, and Brazil spearheaded ceasefire efforts at the United Nations.

    A third development is the expansion of the BRICS bloc of economies from its original five members – Brazil, Russia, India, China and South Africa – to 10 members. Although China and Russia are not members of the Global South, those other founding members are, and the BRICS group has promoted key issues on the Global South’s agenda. The addition of countries such as Egypt and Ethiopia has meant that BRICS has increasingly taken on the guise of the Global South forum. Brazil President Luiz Inácio Lula da Silva, a leading proponent of BRICS, is keen on advancing this Global South agenda.

    All three of these developments have made active nonalignment more relevant than ever before.

    How are China and the US responding to active nonalignment – or are they?

    I’ll give you two examples: Angola and Argentina.

    In Angola, the African country that has received most Chinese cooperation to the tune of US$45 billion, you now have the U.S. financing what is known as the Lobito Corridor – a railway line that stretches from the eastern border of the Democratic Republic of the Congo to Angola’s Atlantic coast.

    Ten years ago, the notion that the U.S. would be financing railway projects in southern Africa would have been considered unfathomable. Yet it has happened. Why? Because China has built significant railway lines in countries such as Kenya and Ethiopia, and the U.S. realized that it was being left behind.

    For the longest time, the U.S. would condemn such Chinese-financed infrastructure projects via the “Belt and Road Initiative” as nothing but “debt-trap diplomacy” designed to saddle developing nations with “white elephants” nobody needed. But a couple of years ago, that tune changed: The U.S. and Europe realized that there is a big infrastructure deficit in Asia, Africa and Latin America that China was stepping in to reduce – and the West was nowhere to be seen in this critical area.

    In short, the West changed it approach – and countries like Angola are now able to play the U.S. off against China for its own national interests.

    Then take Argentina. In 2023, Javier Milei was elected president on a strong anti-China platform. He said his government would have nothing to do with Beijing. But just two years later, Milei announced in an Economist interview that he is a great admirer of Beijing.

    Why? Because Argentina has a very significant foreign debt, and Milei knew that a continued anti-China stance would mean a credit line from Beijing would likely not be renewed. The Argentinian president was under pressure from the International Monetary Fund and Washington to let the credit line with China lapse, but Milei refused to do so and managed to hold his own, playing both sides against the middle.

    Milei is a populist conservative; Brazil’s Lula a leftist. So is active nonalignment immune to ideological differences?

    Absolutely. When people ask me what the difference is between traditional nonalignment and active nonalignment, one of the most obvious things is that the latter is nonideological – it can be used by people of the right, left and center. It is a guide to action, a compass to navigate the waters of a highly troubled world, and can be used by governments of very different ideological hues.

    Brazil President Luiz Inacio Lula da Silva and Argentina President Javier Milei at the 66th Summit of leaders of the Mercosur trading bloc in Buenos Aires on July 3, 2025.
    Luis Robayo/AFP via Getty Images

    The book talks a lot about the fragmentation of the rules-based order. Where do you see this heading?

    There is little doubt that the liberal international order that framed world politics from 1945 to 2016 has come to an end. Some of its bedrock principles, like multilateralism, free trade and respect for international law and existing international treaties, have been severely undermined.

    We are now in a transitional stage. The notion of the West as a geopolitical entity, as we knew it, has ceased to exist. We now have the extraordinary situation where illiberal forces in Hungary, Germany and Poland, among other places, are being supported by those in power in both Washington and Moscow.

    And this decline of the West has not come about because of any economic issue – the U.S. still represents around 25% of global GDP, much as it did in 1970 – but because of the breakdown of the trans-Atlantic alliance.

    So we are moving toward a very different type of world order – and one in which the Global South has the opportunity to have much more of a role, especially if it deploys active nonalignment.

    How have events since Trump’s inauguration played into your argument?

    The notion of active nonalignment was triggered by the first Trump administration’s pressure on Latin American countries. I would argue that the measures undertaken in Trump’s second administration – the tariffs imposed on 90 countries around the world; the U.S. leaving the Paris climate agreement, the World Health Organization and the U.N. Human Rights Council; and other “America First” policies – have only underscored the validity of active nonalignment as a foreign policy approach.

    The pressures on countries across the Global South are very strong, and there is a temptation to give in to Trump and align with U.S. Yet, all indications are that simply giving in to Trump’s demands isn’t a recipe for success. Those countries that have gone down the route of giving in to Trump’s demands only see more demands after that. Countries need a different approach – and that can be found in active nonalignment.

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

    – ref. Nations are increasingly ‘playing the field’ when it comes to US and China – a new book explains explains why ‘active nonalignment’ is on the march – https://theconversation.com/nations-are-increasingly-playing-the-field-when-it-comes-to-us-and-china-a-new-book-explains-explains-why-active-nonalignment-is-on-the-march-260234

    MIL OSI –

  • MIL-OSI USA News: Gas Prices Plunge Under President Trump’s Energy Policies 📉

    Source: US Whitehouse

    Following the cheapest Independence Day gas prices in four years, drivers across America continue to enjoy plummeting prices — boosting family budgets and fueling economic growth from coast to coast.

    The price decline is being reported nationwide:

    MIL OSI USA News –

  • Modi govt has planned ₹5,000-crore investment to develop northeast waterways: Sarbananda Sonowal

    Source: Government of India

    Source: Government of India (4)

    In a major push to boost inland waterways and maritime infrastructure in India’s Northeast, Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal on Monday announced a slew of initiatives with an investment outlay of ₹5,000 crore. The projects aim to transform the region’s connectivity, trade, tourism, and employment landscape over the next few years.

    Speaking at a press conference in New Delhi, Sonowal said the Modi government has drawn up comprehensive plans to develop year-round navigable waterways, modern terminals, community jetties, urban water metros, and maritime skill hubs across the region.

    Empowering Northeast Youth

    A key highlight of the plan is the training of 50,000 youth from the Northeast in maritime skills over the next decade. The Maritime Skill Development Centre (MSDC) in Guwahati and a new Centre of Excellence (CoE) in Dibrugarh will spearhead this effort, with an investment of ₹200 crore earmarked for the CoE alone. Together, these centres are expected to generate at least 500 jobs annually.

    “Prime Minister Modi has always envisioned how Yuva Shakti can bring real transformation to the country. Our vision is to train, enable and empower 50,000 youth from the Northeast with world-class maritime skills, ensuring meaningful employment and growth,” Sonowal said.

    Strengthening Connectivity and Trade

    The Ministry of Ports, Shipping and Waterways has undertaken projects worth ₹1,000 crore in the region’s inland waterways sector in the past two years. Of this, ₹300 crore worth of works have been completed, with the remaining ₹700 crore scheduled for completion by 2025.

    Major initiatives include setting up permanent cargo terminals at Pandu, Jogighopa, Dhubri, Bogibeel, Karimganj, and Badarpur; new approach roads to Pandu Port; heritage restoration works in Dibrugarh; and the development of tourist jetties worth ₹299 crore.

    Additionally, 85 community jetties will be built across the Northeast to boost local trade and connectivity. To ensure uninterrupted navigation on major river routes, the government will deploy 10 amphibian and cutter section dredgers at an investment of ₹610 crore.

    A fleet of 100 modern barges operated by German logistics major Rhenus is also expected to become operational on National Waterways 2 and 16 by 2025, significantly enhancing cargo movement across Assam and neighbouring states.

    Kaladan Project to be Operational by 2027

    Providing an update on the Kaladan Multi-Modal Transit Transport Project (KMTTP) — a crucial link connecting India’s Northeast with Myanmar — Sonowal said the project would be fully operational by 2027.

    “This strategic initiative, born out of the India-Myanmar Friendship Treaty, will provide the Northeast with direct and shorter access to international sea routes. It will unlock new trade opportunities for Northeast India, Bangladesh, Bhutan, Nepal, and Myanmar, strengthening regional ties with Southeast Asia,” he said.

    The Kaladan corridor connects Sittwe Port in Myanmar to Paletwa via an inland waterway, and from Paletwa to Zorinpui in Mizoram by road. Goods can also move from Kolkata to Sittwe Port and onward to Teknaf Port in Bangladesh, then by road to Sabroom in Tripura, reducing transit times and logistics costs substantially.

    Focus on Tourism and Urban Transport

    In a bid to boost regional tourism, the government plans to develop tourism and cargo jetties at Silghat, Neamati, Biswanath Ghat, and Guijan with an investment of ₹300 crore. Water Metro projects for modern urban transport have also been proposed for Guwahati, Tezpur, and Dibrugarh, with feasibility studies already completed.

    Lighthouses will be installed at Pandu, Tezpur, Biswanath, and Bogibeel, equipped with IMD units to provide local weather forecasts. These will be supported by the Ministry of Environment, Forest and Climate Change.

    Sonowal said, “These projects reflect our commitment to transform the Northeast into a vibrant hub for waterways-based trade, tourism, and employment. This is in line with Prime Minister Narendra Modi’s vision of Sabka Saath, Sabka Vikas — ensuring inclusive growth and development for all.”

  • MIL-OSI: BOS Better Online Solutions Secures $425,000 in Orders from New Indian Customers

    Source: GlobeNewswire (MIL-OSI)

    RISHON LE ZION, Israel, July 07, 2025 (GLOBE NEWSWIRE) — BOS Better Online Solutions Ltd. (“BOS” or the “Company”) (NASDAQ: BOSC), a global integrator of supply chain technologies, today announced that it has secured orders totaling $425,000 from new customers in India.

    The orders are for wiring and cabling products that BOS began offering at the end of 2024. These products complement the electromechanical connectors that BOS currently supplies, enabling the Company to increase its revenues, particularly within the defense sector.

    Avidan Zelicovski, President of BOS, commented: “The Indian market is a major global hub for subassembly of harnesses for the defense and aerospace sectors. This order from a significant subcontractor in India is a strong indication that we have the right offering in place for the Indian market. We view India as a substantial driver of our future growth, and we intend to further increase our presence in the region.”

    About BOS Better Online Solutions Ltd.

    BOS integrates cutting-edge technologies to streamline and enhance supply chain operations for global customers in the aerospace, defense, industrial and retail sectors. The Company operates three specialized divisions:

    • Intelligent Robotics Division: Automates industrial and logistics inventory processes through advanced robotics technologies, improving efficiency and precision.
    • RFID Division: Optimizes inventory management with state-of-the-art solutions for marking and tracking, ensuring real-time visibility and control.
    • Supply Chain Division: Integrates franchised components directly into customer products, meeting their evolving needs for developing innovative solutions.

    For more information on BOS Better Online Solutions Ltd., visit www.boscom.com.

    Contact Information

    For additional information, contact:

    Matt Kreps, Managing Director
    Darrow Associates
    +1-214-597-8200
    mkreps@darrowir.com

    Eyal Cohen, CEO
    +972-542525925
    eyalc@boscom.com

    Safe Harbor Regarding Forward-Looking Statements

    The forward-looking statements contained herein reflect management’s current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of BOS. These risk factors and uncertainties include, amongst others, the dependency of sales being generated from one or few major customers, the uncertainty of BOS being able to maintain current gross profit margins, inability to keep up or ahead of technology and to succeed in a highly competitive industry, inability to maintain marketing and distribution arrangements and to expand our overseas markets, uncertainty with respect to the prospects of legal claims against BOS, the effect of exchange rate fluctuations, general worldwide economic conditions, the effect of the war against the Islamic Republic of Iran, Hamas and other parties in the region, the continued availability of financing for working capital purposes and to refinance outstanding indebtedness; and additional risks and uncertainties detailed in BOS’ periodic reports and registration statements filed with the US Securities and Exchange Commission. BOS undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

    The MIL Network –

  • Wiaan Mulder hits fifth highest test score but turns down chance to go for Brian Lara’s record

    Source: Government of India

    Source: Government of India (4)

    South Africa’s stand-in captain Wiaan Mulder scored the fifth highest test score of 367 not out against Zimbabwe on Monday but then declared his side’s innings despite being only 34 runs away from the record for the most runs in a test innings.

    Mulder, leading the side for the first time as a depleted team take on their neighbours in a two-test series at Bulawayo’s Queens Sports Club, hit 53 boundaries (49 fours and four sixes) in his knock to see South Africa to 626-5 at lunch on the second day of the second test.

    With plenty of time still left in the test, it was expected he would bat into the second session to chase down Brian Lara’s 21-year-old record of 400 not out for the West Indies against England in Antigua but Mulder turned down the chance and declared at lunch, to put Zimbabwe into bat.

    The 27-year-old all-rounder had come in at No. 3 with South Africa on 24-2 after being put into bat on the opening day on Sunday and was 264 not out at the close as he rallied his side to finish the day on 465-4.

    He had a fortunate break when on 247 he was bowled, only for a no ball to be called as Tanaka Chivanga had overstepped.

    But the rest of Mulder’s impressive innings was chanceless as he brought up his 300 in Monday’s morning session, off 297 balls for the second fastest triple century in test cricket.

    He then passed Hashim Amla’s record test score for a South African of 311 not out against England at the Oval in 2012 and got to 350 in 324 balls before going to lunch 367 not out.

    It put him fifth in the all-time list, ahead of the likes of fellow triple centurions Gary Sobers and Donald Bradman, and behind Lara (400 not out and 375), Australian Matthew Hayden (380) and Sri Lanka’s Mahela Jayawardene, who hit 374 against South Africa in Colombo in 2006.

    -Reuters

  • MIL-OSI: Enovix Announces Preliminary Second Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    FREMONT, Calif., July 07, 2025 (GLOBE NEWSWIRE) — Enovix Corporation (Nasdaq: ENVX) (“Company” or “Enovix”), a global high-performance battery company, today announced preliminary selected unaudited financial results for the second quarter ended June 29, 2025:

    • Revenue was $7.5 million in the second quarter of 2025, exceeding our guidance range of $4.5 million to $6.5 million and nearly doubled from the second quarter of 2024, driven by customer demand across multiple end markets.
    • GAAP Gross Profit was $0.8 million and non-GAAP Gross Profit was $1.2 million, marking our third consecutive quarter of positive gross profit on both a GAAP and non-GAAP basis. This compares favorably to a gross loss of $0.7 million on a GAAP basis and gross loss of $0.6 million on a non-GAAP basis in the second quarter of 2024.
    • GAAP Operating Loss was $43.8 million and non-GAAP Operating Loss was $27.8 million, beating our guidance range of $31 to $37 million and compared to $88.8 million on a GAAP basis and $31.5 million on a non-GAAP basis in the second quarter of 2024.
    • GAAP Net Loss Attributable to Enovix was $43.3 million, improved from the $115.9 million in the second quarter of 2024. Non-GAAP Net Loss Attributable to Enovix was $28.4 million, as compared to the $24.9 million in the second quarter of 2024.
    • Adjusted EBITDA Loss narrowed to $21.4 million, ahead of our guidance range of $23 million to $29 million, and improved from the $26.4 million in the same period a year ago.
    • GAAP net loss per share attributable to Enovix was $0.22 and non-GAAP net loss per share attributable to Enovix was $0.15, at the favorable end of our guidance range of $0.15 to $0.21 per share and compared to $0.67 on a GAAP basis and $0.14 on a non-GAAP basis in the second quarter of 2024.
    • Cash, cash equivalents, and short-term investments were approximately $203 million as of the quarter ended June 29, 2025, after completing the SolarEdge asset acquisition in South Korea and making other capital expenditure payments principally related to Fab2.

    “This marks our fifth straight quarter exceeding the midpoint of guidance for both revenue and adjusted EBITDA,” said Dr. Raj Talluri, Chief Executive Officer. “We’re executing to plan, building momentum, and positioned to scale significantly as our new products and customers come online.”

    Preliminary and unaudited financial results are provided above and below. Final results remain subject to completion of the company’s standard quarter-end close procedures and potential adjustments. Enovix will host its Q2 2025 earnings call and webcast in late July or early August and details will be announced separately.

    About Enovix

    Enovix is on a mission to deliver high-performance batteries that unlock the full potential of technology products. Everything from IoT, mobile, and computing devices, to the vehicle you drive, needs a better battery. Enovix partners with OEMs worldwide to usher in a new era of user experiences. Our innovative, materials-agnostic approach to building a higher performing battery without compromising safety keeps us flexible and on the cutting-edge of battery technology innovation.

    Enovix is headquartered in Silicon Valley with facilities in India, South Korea and Malaysia. For more information visit https://enovix.com and follow us on LinkedIn.

    Non-GAAP Financial Measures

    Non-GAAP Gross Profit, non-GAAP Operating Loss, Adjusted EBITDA, non-GAAP net loss attributable to Enovix, non-GAAP net loss per share, and other non-GAAP measures are intended as supplemental financial measures of our performance that provide an additional tool for investors to use in evaluating ongoing operating results, trends, and in comparing our financial measures with those of comparable companies.

    However, you should be aware that other companies may calculate similar non-GAAP measures differently. Non-GAAP financial measures have limitations, including that they exclude certain expenses that are required under GAAP, which adjustments reflect the exercise of judgment by management. Reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure can be found in the tables at the end of this press release.

    Forward-Looking Statements

    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. Forward-looking statements generally relate to future events or our future financial or operating performance and can be identified by words such as anticipate, believe, continue, could, estimate, expect, intend, may, might, plan, possible, potential, predict, preliminary, project, setting the stage, should, would and similar expressions that convey uncertainty about future events or outcomes. Forward-looking statements in this press release include, without limitation, our expected performance and preliminary financial results for the second quarter of 2025, including, without limitation, with respect to our second quarter 2025 revenue, GAAP and non-GAAP Gross Profit, GAAP and non-GAAP net operating loss, EBITDA and adjusted EBITDA, GAAP and non-GAAP net loss per share attributable to Enovix, and GAAP and non-GAAP earnings per share attributable to Enovix, as well our expectations regarding building momentum, and positioning to scale significantly as our new products and customers come online.

    Actual results could differ materially from these forward-looking statements as a result of certain risks and uncertainties, including, without limitation, any adjustments, changes or revisions to our financial results arising from our financial closing procedures and the completion of our financial statements for the second quarter of 2025; our ability to improve energy density, cycle life, fast charging, capacity roll off and gassing metrics among our products; our reliance on new and complex manufacturing processes for our operations; our ability to establish sufficient manufacturing operations and improve and optimize manufacturing processes to meet demand, source materials and establish supply relationships, and secure adequate funds to execute on our operational and strategic goals; our reliance on a manufacturing agreement with a Malaysia-based company for many of the facilities, procurement, personnel and financing needs of our operations; our operation in international markets, including our exposure to operational, financial and regulatory risks, as well as risks relating to geopolitical tensions and conflicts, including changes in trade policies and regulations; that we may be required to pay costs for components and raw materials that are more expensive than anticipated, including as a result of trade barriers, trade sanctions, export restrictions, tariffs, embargoes or shortages and other general economic and political conditions, which could delay the introduction of our products and negatively impact our business; our ability to adequately control the costs associated with our operations and the components necessary to build our lithium-ion battery cells; our lengthy sales cycles; the safety hazards associated with our batteries and the manufacturing process; a concentration of customers in the military market and our dependence on these customer accounts; certain unfavorable terms in our commercial agreements that may limit our ability to market our products; our ability to develop, market and sell our batteries, expectations relating to the performance of our batteries, and market acceptance of our products; our ability to accurately estimate the future supply and demand of our batteries, which could result in a variety of inefficiencies in our business; changes in consumer preferences or demands; changes in industry standards; the impact of technological development and competition; and global economic conditions, including tariffs, inflationary and supply chain pressures, and political, social, and economic instability, including as a result of armed conflict, war or threat of war, or trade and other international disputes that could disrupt supply or delivery of, or demand for, our products. For additional information on these risks and uncertainties and other potential factors that could cause actual results to differ from the results predicted, please refer to our filings with the Securities and Exchange Commission (“SEC”), including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our annual report on Form 10-K and quarterly reports on Form 10-Q and other documents that we have filed, or will file, with the SEC.

    The financial results presented herein are preliminary and based on information known by management as of the date of this press release; final financial results will be included in the Company’s quarterly report on Form 10-Q for the fiscal quarter ended June 29, 2025. As a result, the financial results presented in this press release may change in connection with the finalization of our closing and reporting processes and may not represent the actual financial results for the second quarter ended June 29, 2025. Any forward-looking statements in this press release speak only as of the date on which they are made. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    Contacts:

    Investors
    Robert Lahey
    ir@enovix.com

    Chief Financial Officer
    Ryan Benton
    ryan.benton@enovix.com

    Reconciliation of Gross Profit to Non-GAAP Gross Profit

    Below is a reconciliation of GAAP gross profit to non-GAAP gross profit (preliminary and unaudited) (in thousands).

        Fiscal Quarters Ended
        June 29, 2025   June 30, 2024
    GAAP gross profit   $         795   $         (655 )
    Stock-based compensation expense             356             95  
    Non-GAAP gross profit   $         1,151   $         (560 )
                   

    Net Loss Attributable to Enovix to Adjusted EBITDA Reconciliation

    While we prepare our consolidated financial statements in accordance with GAAP, we also utilize and present certain financial measures that are not based on GAAP. We refer to these financial measures as “non-GAAP” financial measures. In addition to our financial results determined in accordance with GAAP, we believe that EBITDA and Adjusted EBITDA are useful measures in evaluating its financial and operational performance distinct and apart from financing costs, certain non-cash expenses and non-operational expenses.

    These non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP but should not be considered a substitute for or superior to GAAP. We endeavor to compensate for the limitation of the non-GAAP financial measures presented by also providing the most directly comparable GAAP measures.

    We use non-GAAP financial information to evaluate our ongoing operations and for internal planning, budgeting and forecasting purposes. We believe that non-GAAP financial information, when taken collectively, may be helpful to investors in assessing its operating performance and comparing its performance with competitors and other comparable companies. You should review the reconciliations below but not rely on any single financial measure to evaluate our business.

    “EBITDA” is defined as earnings (net loss) attributable to Enovix adjusted for interest expense, income tax benefit, depreciation and amortization expense. “Adjusted EBITDA” includes additional adjustments to EBITDA such as stock-based compensation expense, change in fair value of common stock warrants, inventory step-up, impairment of equipment and other special items as determined by management which it does not believe to be indicative of its underlying business trends.

    Below is a reconciliation of net loss attributable to Enovix on a GAAP basis to the non-GAAP EBITDA and Adjusted EBITDA financial measures for the periods presented below (preliminary and unaudited) (in thousands):

      Fiscal Quarters Ended  
      June 29, 2025   June 30, 2024  
    Net loss attributable to Enovix $         (43,347 )   $         (115,872 )  
    Interest income, net           (599 )             (1,635 )  
    Income tax benefit           —                (4,586 )  
    Depreciation and amortization           8,855               5,943    
    EBITDA           (35,091 )             (116,150 )  
    Stock-based compensation expense (1)           14,121               17,932    
    Change in fair value of common stock warrants           5,885               33,660    
    Acquisition cost           663               —     
    Gain on bargain purchase of assets           (6,944 )             —     
    Restructuring cost (1)           —                38,146    
    Adjusted EBITDA $         (21,366 )   $         (26,412 )  

    (1) $1.1 million of stock-based compensation expense is included in the restructuring cost line of the table above for the fiscal quarter ended June 30, 2024.

    Reconciliation of Operating Loss to Non-GAAP Operating Loss and Adjusted EBITDA

    Additionally, below is a reconciliation of GAAP operating loss to non-GAAP operating loss and adjusted EBITDA for the periods presented (preliminary and unaudited) (in thousands).

    These non-GAAP measures may differ from similarly titled measures used by other companies.

      Fiscal Quarters Ended  
      June 29, 2025   June 30, 2024  
             
    GAAP Operating Loss $         (43,750 )   $         (88,750 )  
    Stock-based compensation expense (1)           14,121               17,932    
    Amortization of intangible assets           1,189               1,189    
    Acquisition cost           663               —     
    Restructuring cost (1)           —                38,146    
    Non-GAAP Operating Loss           (27,777 )             (31,483 )  
    Depreciation and amortization (excluding amortization of intangible assets)           7,666               4,754    
    Other income (loss), net           (993 )             242    
    Net loss (income) attributable to non-controlling interest           (261 )             75    
    Adjusted EBITDA $         (21,365 )   $         (26,412 )  

    (1) $1.1 million of stock-based compensation expense is included in the restructuring cost line of the table above for the fiscal quarter ended June 30, 2024.

    Reconciliation of Non-GAAP Net Loss Attributable to Enovix and Non-GAAP Net Loss Per Share Attributable to Enovix

    Below is a reconciliation of GAAP net loss attributable to Enovix to non-GAAP net loss attributable to Enovix for the periods presented (preliminary and unaudited) (in thousands).

    These non-GAAP measures may differ from similarly titled measures used by other companies.

        Fiscal Quarters Ended  
        June 29, 2025   June 30, 2024  
    GAAP net loss attributable to Enovix   $         (43,347 )   $         (115,872 )  
    Stock-based compensation expense (1)             14,121               17,932    
    Change in fair value of common stock warrants             5,885               33,660    
    Amortization of intangible assets             1,189               1,189    
    Acquisition cost             663               —     
    Gain on bargain purchase of assets             (6,944 )             —     
    Restructuring cost (1)             —                38,146    
    Non-GAAP net loss attributable to Enovix shareholders   $         (28,433 )   $         (24,945 )  
               
    GAAP net loss per share attributable to Enovix, basic and diluted   $         (0.22 )   $         (0.67 )  
    GAAP weighted average number of common shares outstanding, basic and diluted             192,675,756               172,399,172    
               
    Non-GAAP net loss per share attributable to Enovix, basic and diluted   $         (0.15 )   $         (0.14 )  
    GAAP weighted average number of common shares outstanding, basic and diluted             192,675,756               172,399,172    

    (1) $1.1 million of stock-based compensation expense is included in the restructuring cost line of the table above for the fiscal quarter ended June 30, 2024.

    The MIL Network –

  • Tesla slides as Musk’s ‘America Party’ sparks investor worries

    Source: Government of India

    Source: Government of India (4)

    Tesla shares fell nearly 7% in premarket trading on Monday after CEO Elon Musk’s plans to launch a new U.S. political party raised investor doubts about his focus on the electric automaker’s future.

    The former head of the Department of Government Efficiency (DOGE) unveiled the ‘America Party’ on Saturday, voicing his displeasure over President Donald Trump’s ‘One Big, Beautiful Bill’.

    This further escalates Musk’s feud with Trump even as Tesla posted a second straight drop in quarterly deliveries. Their discord over the tax bill erupted into an all-out social media brawl in early June, with Trump threatening to cut Musk’s government contracts and subsidies.

    “Investors are worried about two things – one is more Trump ire affecting subsidies and the other, more importantly, is a distracted Musk,” said Neil Wilson, UK investor strategist at Saxo Markets.

    Investors had in May cheered Musk’s decision to scale back political spending and remain Tesla CEO for another five years. He had spent nearly $300 million around Trump’s re-election campaign last year.

    “But now (they) are worried he’s going to (get) sucked back in and take his eye off Tesla,” Wilson said.

    The first signs of investor unease surfaced soon after Musk’s announcement, with investment firm Azoria Partners delaying the listing of a Tesla exchange-traded fund.

    Trump on Sunday called Musk’s plans to form the “America Party” “ridiculous”, saying the Musk ally he once named to lead NASA would have presented a conflict of interest given Musk’s business interests in space.

    TESLA BOARD MOVES

    Wedbush analyst Dan Ives, a Tesla bull, said many investors are feeling a “sense of exhaustion” over Musk’s insistence on immersing himself in politics.

    Azoria Partners CEO James Fishback posted several critical comments on X about Musk’s new party, and called for the Tesla board to clarify Musk’s political ambitions and evaluate if his political involvement is compatible with his obligations to Tesla as CEO.

    The new party undermines the confidence shareholders had that Musk would be focusing more on the company, Fishback said.

    Musk’s latest political move raises questions around Tesla board’s course of action. Its Chair Robyn Denholm in May denied a Wall Street Journal report that said board members were looking to replace the CEO.

    Tesla’s board, which has been criticized for failing to provide oversight of its combative, headline-making CEO, faces a dilemma managing him as he oversees five other companies and his personal political ambitions.

    “This is exactly the kind of thing a board of directors would curtail – removing the CEO if he refused to curtail these kinds of activities,” said Ann Lipton, a professor at the University of Colorado Law School and an expert in business law.

    “The Tesla board has been fairly supine; they have not, at least not in any demonstrable way, taken any action to force Musk to limit his outside ventures, and it’s difficult to imagine they would begin now.”

    Tensions with Trump, struggling sales and an aging vehicle line-up have hurt Tesla’s stock, even as the company bets on growth from autonomous vehicles.

    The stock, which soared to over $488 in December after Trump’s November re-election, has lost 35% since then and closed last week at $315.35.

    Tesla is the worst performing stock among “the Magnificent Seven” group of high-growth U.S. companies this year.

    (Reuters)

     

  • Sanjog Gupta replaces Australia’s Geoff Allardice as ICC chief executive

    Source: Government of India

    Source: Government of India (4)

    Indian Sanjog Gupta has succeeded Australia’s Geoff Allardice as chief executive officer of the International Cricket Council (ICC), the governing body said on Monday.

    Gupta previously served as CEO of JioStar Sports, taking up the job after Reliance Industries and Walt Disney’s $8.5 billion merger of their Indian media assets in November last year.

    His ICC predecessor Allardice, who was appointed CEO in November 2021 after an interim period of eight months following the suspension of Manu Sawhney, stepped down earlier this year.

    “These are exciting times for the sport as marquee events grow in stature, commercial avenues widen and opportunities such as the women’s game scale in popularity,” Gupta, who took charge on Monday, said in a statement.

    “Cricket’s inclusion in the Los Angeles 2028 Olympic Games and the rapid acceleration of technology deployment/adoption could act as force-multipliers for the cricket movement around the world.”

    ICC chair Jay Shah said Gupta’s experience in sports broadcasting and digital strategy would be invaluable for the governing body.

    “His deep understanding of the global sports as well as M&E landscape combined with his continued curiosity about the cricket fan’s perspective and passion for technology will prove essential in our ambition to grow the game in the coming years,” he added.

    “Our goal is to move beyond traditional boundaries and establish cricket as a regular sport in the Olympics, growing its expanse across the world and deepening its roots in its core markets.”

    (Reuters)

  • Netanyahu to meet Trump at White House as Israel, Hamas discuss ceasefire

    Source: Government of India

    Source: Government of India (4)

    Israeli Prime Minister Benjamin Netanyahu is due to meet with U.S. President Donald Trump at the White House on Monday, while Israeli officials hold indirect talks with Hamas, aimed at a U.S.-brokered Gaza hostage-release and ceasefire deal.

    Trump said on Sunday there was a good chance such a deal could be reached this week. The right-wing Israeli leader said he believed his discussions with Trump would help advance talks underway in Qatar.

    It will be Netanyahu’s third White House visit since Trump returned to office in January, and follows Trump’s order last month for U.S. air strikes against Iran and a subsequent ceasefire halting the 12-day Israel-Iran war.

    Israel is hoping that its 12-day war with Iran will also pave the way for new diplomatic opportunities in the region.

    Avi Dichter, an Israeli minister and a member of Netanyahu’s security cabinet, said he expected Trump’s meeting with the Israeli leader would go beyond Gaza to include the possibility of normalising ties with Lebanon, Syria and Saudi Arabia.

    “I think it will first of all be focused on a term we have often used but now has real meaning; a new Middle East,” he told Israel’s public broadcaster Kan on Monday.

    Ahead of the visit, Netanyahu told reporters he would thank Trump for the U.S. air strikes on Iranian nuclear sites, and said Israeli negotiators were driving for a deal on Gaza in Doha, Qatar’s capital.

    Israel and Hamas were set to hold a second day of indirect talks in Qatar on Monday. An Israeli official described the atmosphere so far at the Gaza talks, mediated by Qatar and Egypt, as positive. Palestinian officials said that initial meetings on Sunday had ended inconclusively.

    A second Israeli official said the issue of humanitarian aid had been discussed in Qatar, without providing further details.

    The U.S.-backed proposal for a 60-day ceasefire envisages a phased release of hostages, Israeli troop withdrawals from parts of Gaza and discussions on ending the war entirely. Hamas has long demanded a final end to the war before it would free remaining hostages; Israel has insisted it would not agree to halt fighting until all hostages are free and Hamas dismantled.

    Trump told reporters on Friday it was good that Hamas said it had responded in “a positive spirit” to a U.S.-brokered 60-day Gaza ceasefire proposal, and noted that a deal could be reached this week.

    Some of Netanyahu’s hardline coalition partners oppose ending the fighting but, with Israelis having become increasingly weary of the 21-month-old war, his government is expected to back a ceasefire.

    A ceasefire at the start of this year ended in March, and talks to revive it have so far been fruitless. Meanwhile, Israel has intensified its military campaign in Gaza and sharply restricted food distribution.

    “God willing, a truce would take place,” Mohammed Al Sawalheh, a 30-year-old Palestinian displaced from Jabalia in northern Gaza, told Reuters on Sunday after an Israeli air strike overnight.

    “We cannot see a truce while people are dying. We want a truce that would stop this bloodshed.”

    The Gaza war erupted when Hamas attacked southern Israel in October 2023, killing around 1,200 people and taking 251 hostages. Some 50 hostages remain in Gaza, with 20 believed to be alive.

    Israel’s retaliatory war in Gaza has killed over 57,000 Palestinians, according to the enclave’s health ministry. Most of Gaza’s population has been displaced by the war and nearly half a million people are facing famine within months, according to United Nations estimates.

    TRUMP LASHED OUT AT ISRAELI PROSECUTORS

    Trump has been strongly supportive of Netanyahu, even wading into domestic Israeli politics last month by lashing out at prosecutors over a corruption trial against the Israeli leader on bribery, fraud and breach-of-trust charges Netanyahu denies.

    Trump, who has faced his own legal troubles, argued last week that the judicial process would interfere with Netanyahu’s ability to conduct talks with Hamas and Iran.

    Trump said he expected to discuss Iran and its nuclear ambitions with Netanyahu, lauding the U.S. strikes on Iranian nuclear sites as a tremendous success. On Friday, he told reporters that he believed Tehran’s nuclear program had been set back permanently, although Iran could restart efforts elsewhere.

    Trump insisted on Friday that he would not allow Tehran to resume its nuclear program, and said Tehran wanted to meet with him. Iran has always denied seeking a nuclear weapon.

    (Reuters)

  • AI, IoT to drive India as a global leader in food processing: Report

    Source: Government of India

    Source: Government of India (4)

    The food processing sector in India gearing up for a sustainable future driven by technology and digital innovation, positioning the country as a global leader, according to a report on Monday.

    The joint knowledge report by ASSOCHAM-PwC, launched at the Food Tech conference organised by ASSOCHAM, showed that the technologies associated with Industry 4.0 — including artificial intelligence (AI), the Internet of things (IoT), blockchain, robotics, and automation — are fundamentally transforming how food is processed, stored, and transported.

    These innovations are improving operational efficiency, food safety, quality control, and supply chain transparency.

    With the global food robotics market projected to reach $6.08 billion by 2032, the report noted that India has a significant opportunity to harness these technologies, especially as it addresses critical challenges like post-harvest losses, which cost the country an estimated Rs 1.53 trillion annually.

    “India’s journey towards becoming a developed and self-reliant economy — Viksit Bharat — is being closely shaped by the transformation of its food processing ecosystem,” said Manish Singhal (Secretary General, ASSOCHAM).

    “The vision of a proactive and sustained effort is regarded to be highly relevant to the evolving landscape of India’s food processing sector — an industry recognised both as a key economic driver and a vital link between agriculture and the nation’s nutritional needs,” he added.

    The report also outlined the hurdles faced by the industry. This includes supply chain traceability, limited processing coverage, environmental concerns, and lack of skilled manpower.

    Further, it draws attention to food wastage and foodborne illnesses, which cost $936 billion and $110 billion respectively each year.

    It called for enhanced compliance and safety protocols powered by digital tools to mitigate these losses and ensure better food security for all.

    Meanwhile, the report also highlighted the initiatives launched by the government such as the Pradhan Mantri Kisan Sampada Yojana (PMKSY) and Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) — which aim to strengthen the food processing ecosystem, reduce wastage and formalise the sector.

    “Dialogue on emerging food processing technologies is essential to foster stakeholder collaboration for stimulating its large-scale adoption. The food processing sector in India holds tremendous potential, especially with increasing global interest and exports,” said Shashi Kant Singh, Partner – Agriculture and Food Sector, PwC India.

    Changing consumer preferences are also shaping the future of the industry, showed the report highlighting a growing demand for sustainable packaging, plant-based proteins, and clean-label products — trends that reflect rising awareness about health and environmental impact.

    It called for a combined effort involving policymakers, industry leaders, academia, and startups — supported by modern infrastructure and an enabling policy environment — to unlock the sector’s full potential.

    (IANS)

  • Raksha Khadse inaugurates ABC Pro Basketball League Season 4 in Pune

    Source: Government of India

    Source: Government of India (4)

    Union Minister of State for Youth Affairs and Sports Raksha Khadse on Sunday inaugurated Season 4 of the ABC Pro Basketball League at the Rajaram Bhiku Pathare Stadium in Kharadi, Pune. The event celebrated the growing momentum of grassroots basketball in India and highlighted the government’s commitment to nurturing young sporting talent under the vision of a ‘Viksit Bharat’ and the goals of ‘Khelo Bharat Niti 2025’.

    Kicking off with an energetic match and a spirited inauguration ceremony, the event featured a trophy unveiling, national anthem, march pass by participating teams, and an exhibition game. Addressing players and spectators, Raksha Khadse hailed the league as a symbol of youth empowerment and sporting excellence. “Every point scored here contributes to building a healthier, more united, and competitive India,” she said, emphasizing the importance of grassroots sports in achieving national development goals.

    Organisers revealed that over 5,000 young players from across Maharashtra took part in the selection trials. Following a rigorous auction process, 310 players were chosen to represent 19 teams across boys’ and girls’ Under-14 and Under-17 categories. All matches will be held indoors at a state-of-the-art facility to ensure a high standard of play and development.

    The ceremony was attended by a host of dignitaries and team owners, including Mr. Surendra Pathare of the Surendra Pathare Foundation, along with representatives from teams like Kolhapur Jaguars, Mumbai Snipers, Hi 5 RS, Pune Chitale Warriors, Supernova Thane Tigers, Nashik Court Crusaders, Pune Fittr Warriors, and more.

    The ABC Pro Basketball League continues to emerge as a powerful platform for young athletes, aligning with national efforts to embed sports deeply into the lives of India’s youth and create future champions on and off the court.

  • MIL-OSI: Textile Recycling Market Projected to Reach $7.26 Billion by 2032, Growing at a 4.9% CAGR Amid Rising Sustainability Initiatives | AnalystView Market Insights

    Source: GlobeNewswire (MIL-OSI)

    San Francisco, USA, July 07, 2025 (GLOBE NEWSWIRE) — The global Textile Recycling Market is experiencing a steady transformation as environmental concerns, sustainability goals, and circular economy initiatives reshape industry priorities. Valued at USD 7,258.59 million by 2032 and growing at a CAGR of 4.90%, the market reflects rising global awareness of the environmental toll caused by textile waste. Traditional fashion consumption patterns, driven by fast fashion and short product life cycles, have resulted in millions of tons of discarded clothing entering landfills annually. This growing waste stream has created an urgent demand for efficient recycling solutions.

    Textile recycling is the process of reclaiming fibers from used clothing, manufacturing waste, and household fabrics to create new materials or products. This process plays a crucial role in reducing environmental burdens such as landfill overflow, water usage, and dependency on virgin fibers. Globally, over 92 million tons of textile waste are generated each year, as per the Ellen MacArthur Foundation, with most ending up in landfills or incinerators. Additionally, producing one cotton shirt consumes around 2,700 liters of water. As sustainability gains traction across industries and among consumers, textile recycling is emerging as a key strategy to combat environmental degradation.

     Request a sample copy of this report at: https://analystviewmarketinsights.com/request_sample/AV4093

    Key Market Players

    The competitive landscape of the global textile recycling market includes both established players and emerging innovators. Major companies include:

    •  Worn Again Technologies
    • Birla Cellulose
    • Lenzing Group
    • BLS Ecotech
    • iinouiio Ltd.
    • The Woolmark Company
    • Ecotex Group
    • Unifi, Inc.
    • The Boer Group
    • Textile Recycling International
    • Pistoni S.r.l.
    • Renewcell
    • REMONDIS SE & Co. KG
    • HYOSUNG TNC
    • Martex Fiber
    • Anandi Enterprises, American Textile Recycling Service
    • Patagonia
    • Infinited Fiber Company
    • Prokotex
    • Retex Textiles
    • Pure Waste Textiles
    • Others

    Textile Recycling Market Segments:

    Global Textile Recycling Market, By Process- Market Analysis, 2019 – 2032

    • Chemical
    • Mechanical

    Global Textile Recycling Market, By Material- Market Analysis, 2019 – 2032

    • Polyester & Polyester Fiber
    • Nylon & Nylon Fiber
    • Cotton
    • Wool
    • Others

    Global Textile Recycling Market, By Textile Waste- Market Analysis, 2019 – 2032

    • Pre-consumer
    • Post-consumer

    Global Textile Recycling Market, By Distribution Channel- Market Analysis, 2019 – 2032

    • Retail & Departmental Stores
    • Online

    Global Textile Recycling Market, By End-Use Industry- Market Analysis, 2019 – 2032

    • Home Furnishings
    • Apparel
    • Industrial & Institutional
    • Others

    Market Drivers and Opportunities

    Several key drivers are fueling the growth of the textile recycling market:

    1. Environmental Regulations: Governments worldwide are implementing stringent regulations to minimize waste and cut greenhouse gas emissions. A notable example is the European Union’s directive, which requires member states to ensure the separate collection of textile waste by January 1, 2025, as part of its Circular Economy Action Plan. This mandate aims to boost reuse and recycling, reduce environmental impact, and promote sustainable production models. Such policy-driven initiatives are expected to significantly improve textile recycling rates across the EU, while also influencing regulatory frameworks in other regions. The growing legislative pressure underscores the urgent global commitment to advancing sustainable waste management practices.
    2. Circular Economy Initiatives: The rise of circular fashion—where products are designed, produced, and recycled with sustainability in mind—is gaining momentum. Many brands are investing in closed-loop systems, where discarded garments are recycled back into new clothing.
    3. Consumer Awareness: Increased public awareness regarding the environmental impact of fashion is influencing purchasing decisions. Consumers are now more inclined to support brands that prioritize sustainability and offer recycled or upcycled products.
    4. Technological Advancements: Innovation in recycling technologies, including AI-powered sorting systems, automated collection solutions, and efficient fiber recovery techniques, are making recycling more viable and cost-effective.
    5. Brand Collaborations: Partnerships between recycling companies and major fashion brands are helping expand the scope of textile recycling. For example, brands like Patagonia and H&M are implementing take-back programs and collaborating with recycling firms to develop new eco-friendly collections.

    The textile industry is one of the most resource-intensive and polluting industries globally. With fast fashion encouraging rapid consumption and disposal of clothing, millions of tons of textiles end up in landfills each year. According to the U.S. Environmental Protection Agency (EPA), more than 17 million tons of textile waste were generated in the U.S. alone in 2018, but less than 15% of it was recycled. This highlights the enormous potential for growth and the pressing need for efficient textile recycling systems.

    TABLE OF CONTENT

    1. Textile Recycling Market Overview
    1.1. Study Scope
    1.2. Market Estimation Years
    2. Executive Summary
    2.1. Market Snippet
    2.1.1. Textile Recycling Market Snippet by Process
    2.1.2. Textile Recycling Market Snippet by Material
    2.1.3. Textile Recycling Market Snippet by Textile Waste
    2.1.4. Textile Recycling Market Snippet by Distribution Channel
    2.1.5. Textile Recycling Market Snippet by End-use Industry
    2.1.6. Textile Recycling Market Snippet by Country
    2.1.7. Textile Recycling Market Snippet by Region
    2.2. Competitive Insights
    3. Textile Recycling Key Market Trends
    3.1. Textile Recycling Market Drivers
    3.1.1. Impact Analysis of Market Drivers
    3.2. Textile Recycling Market Restraints
    3.2.1. Impact Analysis of Market Restraints
    3.3. Textile Recycling Market Opportunities
    3.4. Textile Recycling Market Future Trends….

    Textile recycling not only reduces landfill waste but also conserves water, energy, and raw materials. Reprocessing fibers from used garments decreases the need for virgin materials like cotton or synthetic fibers, both of which have significant environmental footprints. As a result, governments, industries, and consumers are increasingly supporting textile recycling as a sustainable alternative.

    Regional Insights: Europe Leads, Asia-Pacific Follows

    Europe is expected to maintain its dominance in the textile recycling market throughout the forecast period. The region’s strong regulatory framework, early adoption of sustainable practices, and well-developed recycling infrastructure contribute to its leadership. Countries like Germany, Sweden, and the Netherlands have implemented effective waste segregation systems, making textile recycling more efficient.

    The Asia-Pacific region is anticipated to witness the fastest growth. Countries such as China, India, and Bangladesh are major textile producers and consumers. With rising environmental awareness and growing volumes of textile waste, these nations are investing heavily in recycling infrastructure. China, for instance, aims to recycle 25% of its textile waste and produce 2 million tonnes of recycled fiber annually by 2025, aligning with its broader environmental goals.

    North America is also an important market, with the United States gradually enhancing its textile recycling infrastructure. Public-private partnerships and educational campaigns are improving recycling rates, although the region still faces challenges related to mixed material processing and consumer participation.

    Browse In-depth Market Research Report (269 Pages) on Textile Recycling Market: https://analystviewmarketinsights.com/report-highlight-textile-recycling-market

    Technology Landscape: Mechanical vs. Chemical Recycling

    The textile recycling market is segmented into mechanical and chemical recycling processes.

    • Mechanical Recycling involves shredding and reprocessing textiles into fibers without altering their chemical structure. It is cost-effective, widely applicable, and especially suitable for natural fibers like cotton and synthetic fibers like polyester. Due to its simplicity and lower environmental impact, mechanical recycling is currently the dominant technology.
    • Chemical Recycling, on the other hand, breaks down fabrics at the molecular level, allowing the recovery of high-purity fibers. This method is effective for mixed-fiber textiles but is currently more expensive and less scalable. However, ongoing innovations are expected to make chemical recycling more accessible in the coming years.

    Challenges and Constraints

    Despite the growing momentum, the textile recycling market faces several hurdles:

    • Lack of Infrastructure: Many regions still lack the infrastructure for efficient textile collection, sorting, and processing.
    • Contamination Issues: Textiles often contain mixed fibers, dyes, and chemicals, making recycling complex and resource-intensive.
    • Consumer Participation: Public engagement in recycling programs remains relatively low in several markets.
    • Economic Viability: In many cases, producing virgin fibers is still cheaper than recycling, particularly in regions where labor and manufacturing costs are low.

    Access Other Relevant Reports from AnalystView Market Insights:

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    The MIL Network –

  • MIL-OSI: Textile Recycling Market Projected to Reach $7.26 Billion by 2032, Growing at a 4.9% CAGR Amid Rising Sustainability Initiatives | AnalystView Market Insights

    Source: GlobeNewswire (MIL-OSI)

    San Francisco, USA, July 07, 2025 (GLOBE NEWSWIRE) — The global Textile Recycling Market is experiencing a steady transformation as environmental concerns, sustainability goals, and circular economy initiatives reshape industry priorities. Valued at USD 7,258.59 million by 2032 and growing at a CAGR of 4.90%, the market reflects rising global awareness of the environmental toll caused by textile waste. Traditional fashion consumption patterns, driven by fast fashion and short product life cycles, have resulted in millions of tons of discarded clothing entering landfills annually. This growing waste stream has created an urgent demand for efficient recycling solutions.

    Textile recycling is the process of reclaiming fibers from used clothing, manufacturing waste, and household fabrics to create new materials or products. This process plays a crucial role in reducing environmental burdens such as landfill overflow, water usage, and dependency on virgin fibers. Globally, over 92 million tons of textile waste are generated each year, as per the Ellen MacArthur Foundation, with most ending up in landfills or incinerators. Additionally, producing one cotton shirt consumes around 2,700 liters of water. As sustainability gains traction across industries and among consumers, textile recycling is emerging as a key strategy to combat environmental degradation.

     Request a sample copy of this report at: https://analystviewmarketinsights.com/request_sample/AV4093

    Key Market Players

    The competitive landscape of the global textile recycling market includes both established players and emerging innovators. Major companies include:

    •  Worn Again Technologies
    • Birla Cellulose
    • Lenzing Group
    • BLS Ecotech
    • iinouiio Ltd.
    • The Woolmark Company
    • Ecotex Group
    • Unifi, Inc.
    • The Boer Group
    • Textile Recycling International
    • Pistoni S.r.l.
    • Renewcell
    • REMONDIS SE & Co. KG
    • HYOSUNG TNC
    • Martex Fiber
    • Anandi Enterprises, American Textile Recycling Service
    • Patagonia
    • Infinited Fiber Company
    • Prokotex
    • Retex Textiles
    • Pure Waste Textiles
    • Others

    Textile Recycling Market Segments:

    Global Textile Recycling Market, By Process- Market Analysis, 2019 – 2032

    • Chemical
    • Mechanical

    Global Textile Recycling Market, By Material- Market Analysis, 2019 – 2032

    • Polyester & Polyester Fiber
    • Nylon & Nylon Fiber
    • Cotton
    • Wool
    • Others

    Global Textile Recycling Market, By Textile Waste- Market Analysis, 2019 – 2032

    • Pre-consumer
    • Post-consumer

    Global Textile Recycling Market, By Distribution Channel- Market Analysis, 2019 – 2032

    • Retail & Departmental Stores
    • Online

    Global Textile Recycling Market, By End-Use Industry- Market Analysis, 2019 – 2032

    • Home Furnishings
    • Apparel
    • Industrial & Institutional
    • Others

    Market Drivers and Opportunities

    Several key drivers are fueling the growth of the textile recycling market:

    1. Environmental Regulations: Governments worldwide are implementing stringent regulations to minimize waste and cut greenhouse gas emissions. A notable example is the European Union’s directive, which requires member states to ensure the separate collection of textile waste by January 1, 2025, as part of its Circular Economy Action Plan. This mandate aims to boost reuse and recycling, reduce environmental impact, and promote sustainable production models. Such policy-driven initiatives are expected to significantly improve textile recycling rates across the EU, while also influencing regulatory frameworks in other regions. The growing legislative pressure underscores the urgent global commitment to advancing sustainable waste management practices.
    2. Circular Economy Initiatives: The rise of circular fashion—where products are designed, produced, and recycled with sustainability in mind—is gaining momentum. Many brands are investing in closed-loop systems, where discarded garments are recycled back into new clothing.
    3. Consumer Awareness: Increased public awareness regarding the environmental impact of fashion is influencing purchasing decisions. Consumers are now more inclined to support brands that prioritize sustainability and offer recycled or upcycled products.
    4. Technological Advancements: Innovation in recycling technologies, including AI-powered sorting systems, automated collection solutions, and efficient fiber recovery techniques, are making recycling more viable and cost-effective.
    5. Brand Collaborations: Partnerships between recycling companies and major fashion brands are helping expand the scope of textile recycling. For example, brands like Patagonia and H&M are implementing take-back programs and collaborating with recycling firms to develop new eco-friendly collections.

    The textile industry is one of the most resource-intensive and polluting industries globally. With fast fashion encouraging rapid consumption and disposal of clothing, millions of tons of textiles end up in landfills each year. According to the U.S. Environmental Protection Agency (EPA), more than 17 million tons of textile waste were generated in the U.S. alone in 2018, but less than 15% of it was recycled. This highlights the enormous potential for growth and the pressing need for efficient textile recycling systems.

    TABLE OF CONTENT

    1. Textile Recycling Market Overview
    1.1. Study Scope
    1.2. Market Estimation Years
    2. Executive Summary
    2.1. Market Snippet
    2.1.1. Textile Recycling Market Snippet by Process
    2.1.2. Textile Recycling Market Snippet by Material
    2.1.3. Textile Recycling Market Snippet by Textile Waste
    2.1.4. Textile Recycling Market Snippet by Distribution Channel
    2.1.5. Textile Recycling Market Snippet by End-use Industry
    2.1.6. Textile Recycling Market Snippet by Country
    2.1.7. Textile Recycling Market Snippet by Region
    2.2. Competitive Insights
    3. Textile Recycling Key Market Trends
    3.1. Textile Recycling Market Drivers
    3.1.1. Impact Analysis of Market Drivers
    3.2. Textile Recycling Market Restraints
    3.2.1. Impact Analysis of Market Restraints
    3.3. Textile Recycling Market Opportunities
    3.4. Textile Recycling Market Future Trends….

    Textile recycling not only reduces landfill waste but also conserves water, energy, and raw materials. Reprocessing fibers from used garments decreases the need for virgin materials like cotton or synthetic fibers, both of which have significant environmental footprints. As a result, governments, industries, and consumers are increasingly supporting textile recycling as a sustainable alternative.

    Regional Insights: Europe Leads, Asia-Pacific Follows

    Europe is expected to maintain its dominance in the textile recycling market throughout the forecast period. The region’s strong regulatory framework, early adoption of sustainable practices, and well-developed recycling infrastructure contribute to its leadership. Countries like Germany, Sweden, and the Netherlands have implemented effective waste segregation systems, making textile recycling more efficient.

    The Asia-Pacific region is anticipated to witness the fastest growth. Countries such as China, India, and Bangladesh are major textile producers and consumers. With rising environmental awareness and growing volumes of textile waste, these nations are investing heavily in recycling infrastructure. China, for instance, aims to recycle 25% of its textile waste and produce 2 million tonnes of recycled fiber annually by 2025, aligning with its broader environmental goals.

    North America is also an important market, with the United States gradually enhancing its textile recycling infrastructure. Public-private partnerships and educational campaigns are improving recycling rates, although the region still faces challenges related to mixed material processing and consumer participation.

    Browse In-depth Market Research Report (269 Pages) on Textile Recycling Market: https://analystviewmarketinsights.com/report-highlight-textile-recycling-market

    Technology Landscape: Mechanical vs. Chemical Recycling

    The textile recycling market is segmented into mechanical and chemical recycling processes.

    • Mechanical Recycling involves shredding and reprocessing textiles into fibers without altering their chemical structure. It is cost-effective, widely applicable, and especially suitable for natural fibers like cotton and synthetic fibers like polyester. Due to its simplicity and lower environmental impact, mechanical recycling is currently the dominant technology.
    • Chemical Recycling, on the other hand, breaks down fabrics at the molecular level, allowing the recovery of high-purity fibers. This method is effective for mixed-fiber textiles but is currently more expensive and less scalable. However, ongoing innovations are expected to make chemical recycling more accessible in the coming years.

    Challenges and Constraints

    Despite the growing momentum, the textile recycling market faces several hurdles:

    • Lack of Infrastructure: Many regions still lack the infrastructure for efficient textile collection, sorting, and processing.
    • Contamination Issues: Textiles often contain mixed fibers, dyes, and chemicals, making recycling complex and resource-intensive.
    • Consumer Participation: Public engagement in recycling programs remains relatively low in several markets.
    • Economic Viability: In many cases, producing virgin fibers is still cheaper than recycling, particularly in regions where labor and manufacturing costs are low.

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    The MIL Network –

  • MIL-OSI China: PLA Support Base in Djibouti participates in 50th anniversary of Comoros’ independence 2025-07-07 17:47:54 At the invitation of the Comorian government, a detachment of the Chinese People’s Liberation Army (PLA) Support Base in Djibouti participated in the military parade marking the 50th anniversary of the independence of the Comoros on July 6, local time.

    Source: People’s Republic of China – Ministry of National Defense

      Honor guards of the Chinese PLA Support Base in Djibouti march in the military parade.

      MORONI, July 7 — At the invitation of the Comorian government, a detachment of the Chinese People’s Liberation Army (PLA) Support Base in Djibouti participated in the military parade marking the 50th anniversary of the independence of the Comoros on July 6, local time. This marks the first time the Chinese PLA has taken part in a military parade in the Comoros.

      The military parade was held in Moroni, the capital city of the Comoros. After the ceremony began, formations from the Comorian National Development Army, the Comorian Coast Guard, and other units of the country marched past the reviewing stand. They were followed by international contingents from China, Morocco, and Tanzania.

      According to Brigade General Youssouf Idjihadi, Chief of the Defence Staff of the Comorian National Development Army, they are deeply grateful to Chinese President Xi Jinping for sending Chinese troops to join them in celebrating such a significant occasion. They look forward to further developing their relations with China and strengthening the friendship between the two countries and militaries, thereby becoming exemplary partners across Africa and the Indian Ocean region. He also said that China is a great friend.

      China was the first country to establish diplomatic relations with the Comoros. Over the past 50 years since the establishment of diplomatic relations between the two countries, China has always adhered to the concept of peaceful development in developing bilateral relations. The friendship between the two countries is profound and everlasting. The two sides have always supported each other, worked hand in hand, and actively promoted the building of a community with a shared future for mankind. In September 2024, the two heads of state jointly announced the elevation of China-Comoros relations to a strategic partnership.

      The Comorian army formation marches in the military parade.

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    MIL OSI China News –

  • Stock market ends flat as investors await clarity on India-US trade deal

    Source: Government of India

    Source: Government of India (4)

    Indian indices ended flat on Monday as investors remained cautious amid uncertainty around the interim India-US trade deal.

    Sensex closed at 83,409.68, marginally up 9.61 points or 0.01 per cent. The 30-share index opened marginally lower at 83,398.08 against the last session’s closing of 83,432.89. The index did not see much volatility as it touched an intra-day high at 83,516.83, a jump of 84 points.

    Similarly, Nifty settled flat at 25,461.30, up 0.30 points.

    From the Sensex basket, Hindustan Unilever, Adani Ports, Kotak Bank, Asian Paints, ITC, Power Grid, NTPC, Bharati Airtel, and Sun Pharma settled in positive territory. While Mahindra and Mahindra, Tata Motors, Tata Steel, HDFC Bank, Bajaj Finance, L&T, TCS, SBI, and Infosys ended in the red.

    Meanwhile, 22 shares advanced and 28 declined from the Nifty50 index.

    Nifty largely traded in a narrow range throughout the session as investors remained cautious ahead of the anticipated US tariff announcements, said analysts.

    “Market participants appeared reluctant to take aggressive positions, keeping the broader index range-bound,” said Sundar Kewat from Ashika Institutional Equity.

    The broader index remained range-bound as market participants seemed hesitant to adopt aggressive positions.

    On the sectoral level, stocks in the consumer goods, oil and gas, consumption, and real estate sectors showed buying interest. On the other hand, there was some profit-booking and poor performance in the media, metals, IT, and automotive sectors, said analysts.

    The majority of broader indices closed in negative territory, with the Nifty Midcap 100 declining 0.27 per cent or 162 points and the Nifty Smallcap 100 down 0.44 per cent or 82.90 points. Nifty FMCG and Nifty 100 surged.

    Rupee traded weaker by 0.47 rupees or 0.56 per cent, closing at 85.87, as dollar strength returned amid renewed uncertainty over US trade deals.

    With the 90-day tariff extension period nearing its end and no formal agreements signed yet, market sentiment has turned cautious. All eyes are now on the upcoming Fed meeting minutes, which could guide dollar direction further, said analysts.

    (IANS)

  • Stock market ends flat as investors await clarity on India-US trade deal

    Source: Government of India

    Source: Government of India (4)

    Indian indices ended flat on Monday as investors remained cautious amid uncertainty around the interim India-US trade deal.

    Sensex closed at 83,409.68, marginally up 9.61 points or 0.01 per cent. The 30-share index opened marginally lower at 83,398.08 against the last session’s closing of 83,432.89. The index did not see much volatility as it touched an intra-day high at 83,516.83, a jump of 84 points.

    Similarly, Nifty settled flat at 25,461.30, up 0.30 points.

    From the Sensex basket, Hindustan Unilever, Adani Ports, Kotak Bank, Asian Paints, ITC, Power Grid, NTPC, Bharati Airtel, and Sun Pharma settled in positive territory. While Mahindra and Mahindra, Tata Motors, Tata Steel, HDFC Bank, Bajaj Finance, L&T, TCS, SBI, and Infosys ended in the red.

    Meanwhile, 22 shares advanced and 28 declined from the Nifty50 index.

    Nifty largely traded in a narrow range throughout the session as investors remained cautious ahead of the anticipated US tariff announcements, said analysts.

    “Market participants appeared reluctant to take aggressive positions, keeping the broader index range-bound,” said Sundar Kewat from Ashika Institutional Equity.

    The broader index remained range-bound as market participants seemed hesitant to adopt aggressive positions.

    On the sectoral level, stocks in the consumer goods, oil and gas, consumption, and real estate sectors showed buying interest. On the other hand, there was some profit-booking and poor performance in the media, metals, IT, and automotive sectors, said analysts.

    The majority of broader indices closed in negative territory, with the Nifty Midcap 100 declining 0.27 per cent or 162 points and the Nifty Smallcap 100 down 0.44 per cent or 82.90 points. Nifty FMCG and Nifty 100 surged.

    Rupee traded weaker by 0.47 rupees or 0.56 per cent, closing at 85.87, as dollar strength returned amid renewed uncertainty over US trade deals.

    With the 90-day tariff extension period nearing its end and no formal agreements signed yet, market sentiment has turned cautious. All eyes are now on the upcoming Fed meeting minutes, which could guide dollar direction further, said analysts.

    (IANS)

  • Stock market ends flat as investors await clarity on India-US trade deal

    Source: Government of India

    Source: Government of India (4)

    Indian indices ended flat on Monday as investors remained cautious amid uncertainty around the interim India-US trade deal.

    Sensex closed at 83,409.68, marginally up 9.61 points or 0.01 per cent. The 30-share index opened marginally lower at 83,398.08 against the last session’s closing of 83,432.89. The index did not see much volatility as it touched an intra-day high at 83,516.83, a jump of 84 points.

    Similarly, Nifty settled flat at 25,461.30, up 0.30 points.

    From the Sensex basket, Hindustan Unilever, Adani Ports, Kotak Bank, Asian Paints, ITC, Power Grid, NTPC, Bharati Airtel, and Sun Pharma settled in positive territory. While Mahindra and Mahindra, Tata Motors, Tata Steel, HDFC Bank, Bajaj Finance, L&T, TCS, SBI, and Infosys ended in the red.

    Meanwhile, 22 shares advanced and 28 declined from the Nifty50 index.

    Nifty largely traded in a narrow range throughout the session as investors remained cautious ahead of the anticipated US tariff announcements, said analysts.

    “Market participants appeared reluctant to take aggressive positions, keeping the broader index range-bound,” said Sundar Kewat from Ashika Institutional Equity.

    The broader index remained range-bound as market participants seemed hesitant to adopt aggressive positions.

    On the sectoral level, stocks in the consumer goods, oil and gas, consumption, and real estate sectors showed buying interest. On the other hand, there was some profit-booking and poor performance in the media, metals, IT, and automotive sectors, said analysts.

    The majority of broader indices closed in negative territory, with the Nifty Midcap 100 declining 0.27 per cent or 162 points and the Nifty Smallcap 100 down 0.44 per cent or 82.90 points. Nifty FMCG and Nifty 100 surged.

    Rupee traded weaker by 0.47 rupees or 0.56 per cent, closing at 85.87, as dollar strength returned amid renewed uncertainty over US trade deals.

    With the 90-day tariff extension period nearing its end and no formal agreements signed yet, market sentiment has turned cautious. All eyes are now on the upcoming Fed meeting minutes, which could guide dollar direction further, said analysts.

    (IANS)

  • Operation Sindoor boosted global demand for Indian defence products: Rajnath Singh

    Source: Government of India

    Source: Government of India (4)

    Defence Minister Rajnath Singh on Monday underscored the role of Defence Accounts Department (DAD) in enhancing the operational readiness and financial agility of the Armed Forces at the Controllers’ Conference 2025 in New Delhi.

    Citing the success of Operation Sindoor, he said India’s growing defence capabilities, particularly indigenous equipment, have boosted global demand and respect for the country’s defence sector.

    He urged the DAD to evolve from being mere financial controllers to facilitators, especially as private sector participation in defence expands. Stressing the importance of timely financial decisions, Singh warned that even minor delays or errors could impact operational preparedness.

    The Minister credited the defence sector’s ongoing transformation to Prime Minister Narendra Modi’s leadership, underlining significant progress towards self-reliance and domestic manufacturing. He said “Most of the equipment we once imported is now being made in India. Our reforms are succeeding because of the clarity of vision and commitment at the highest level.” He noted that rising global military expenditure – now at $2.7 trillion – presents major export opportunities for Indian defence industries.

    Singh emphasized the economic impact of defence investments, describing them as key drivers of growth. He called for the incorporation of Defence Economics into departmental planning, including assessments of R&D and dual-use technologies.

    “Our effort is to ensure that decisions are taken swiftly so that we can begin manufacturing larger engines right here in India and that this journey begins with the hands of Indians,” he added.

    Highlighting the Rs 1 lakh crore Research, Development and Innovation (RDI) Scheme, Singh encouraged DAD to actively support funding for start-ups, MSMEs, and private firms. He also praised recent reforms, including the Defence Acquisition Council’s approval of weapon purchases through the capital route.

    “Until recently, defence budgets were not seen as part of the national economy. Today, they are growth drivers,” he said.

    Commending DAD’s new motto – “Alert, Agile, Adaptive” – Singh urged officials to pursue internal reforms through self-assessment. He stressed the need for financial systems that can adapt quickly during periods of uncertainty, ensuring that both equipment production and budget allocations remain responsive.

    “Peace time is nothing but an illusion. Even during periods of relative calm, we must prepare for uncertainty. Sudden developments can force a complete shift in our financial and operational posture. Whether it’s stepping up equipment production or adapting financial processes, we must be ready with innovative techniques and responsive systems at all times,” he said.

    The Minister lauded digital platforms like GeM and SPARSH for promoting transparency and efficiency. Notably, over Rs 2 lakh crore worth of procurements have been made via GeM, while SPARSH has brought pension services to over 32 lakh defence pensioners.

    Singh also welcomed upcoming initiatives like the Comprehensive Pay System and Centralised Database Management System, and praised the department’s Vision Document and revised Defence Accounts Code released during the event.

    Congratulating the department for full capital budget utilisation in the previous fiscal year, he urged continued fiscal discipline with a focus on efficiency-led growth. “Let us all pledge to remain alert, agile, and adaptive so that our work remains relevant and impactful. Our responsibility is immense, and every decision we make contributes to the larger vision of national security and self-reliance,” he concluded.

    The conference was attended by top defence officials including Chief of Defence Staff General Anil Chauhan, service chiefs, Defence Secretary Rajesh Kumar Singh, Defence Research and Development Organisation (DRDO) Chairman and Defence Secretary R&D Dr. Samir V Kamat, Financial Adviser (Defence Services) S G Dastidar and Controller General of Defence Accounts Dr. Mayank Sharma.