Great British Railways in action – passengers benefit from track and train being united on South Eastern Railway
Collaboration has seen consistently low levels of cancellations, with operational costs expected to reduce by £50 million every year.
Credit: South Eastern Railway
Southeastern and Network Rail unite to operate under a single, more efficient leadership team known as South Eastern Railway
under public ownership, Southeastern are delivering some of the lowest cancellation rates nationally and has forecast a £50 million reduction in taxpayer subsidy
South Eastern Railway marks a significant milestone towards Great British Railways and creating clear accountability for performance, delivering better public transport
Southeastern and Network Rail Kent route have united under a single leadership team to drive investment and efficiency and deliver for passengers and freight in an important step towards Great British Railways (GBR). Further regional arrangements will come into place as other services transfer into public ownership.
Operating as the South Eastern Railway team and overseen by Managing Director Steve White, the streamlined structure will allow for a more responsive railway with a common purpose and clear accountability for railway performance across the network.
Already under public ownership, Southeastern has been able to work increasingly closely with Network Rail, which manages railway infrastructure, for over a year. This collaborative approach has resulted in greater efficiency with better, faster decisions for customers and taxpayers, leading to an improved railway. For example:
consistently low levels of cancellations
customer satisfaction at 86%
subsidy required to operate Southeastern expected to reduce by £50 million year on year
Joint planning has led to more efficient and innovative solutions for reducing delays. This includes enabling engineers to access the track during the day to carry out repairs more efficiently, while maintaining a service for customers. Collaboration has also seen the railway trial drones up and down the network to identify and reduce incidents of trespass. More joined-up working also means matching trains to when passengers want to take them, delivering at least £3 million a year in additional revenue for the rail industry.
This is a significant milestone in the government’s plans to overhaul the railways through the creation of Great British Railways, uniting train and track with the sole focus of delivering for passengers.
This new integrated, collaborative approach across the south-east sets the path for how GBR will operate, including the high standards expected before the branding is given to operators. The standards, which will be tailored for each operator, will revolve around delivering high-performing, better-coordinated, more efficient and more responsive services.
Rail Minister, Lord Peter Hendy, said:
Track and train are 2 sides of the same coin, but for too long they have operated independently of each other – leaving customers and taxpayers to bear the consequences of this illogical approach.
Uniting track and train leadership in the south-east is the first step in our journey to create a railway we can all be proud of; delivering the government’s Plan for Change with better connectivity, leading to more growth, jobs and homes and ultimately to the creation of Great British Railways.
Under the new ways of working, South Eastern Railway have further plans to deliver for passengers and taxpayers over the next year/few years. This includes:
investing over £40 million in station improvements, including the country’s largest Access for All Scheme at Hither Green
modernising the rolling stock on the Metro service to deliver more accessible and passenger-focused journeys
fitting passenger trains with thermal imaging cameras and AI CCTV to monitor tracks and give early indications of issues that should be addressed before they affect customers – improving performance and reducing delays
recruiting the next generation of talent for a more inclusive and diverse workforce and delivering real social value and social mobility
South Eastern Railway Managing Director, Steve White, said:
We know that for our customers, what matters most is a railway they can depend on, is reliable and responsive when things go wrong. By joining together track and train under a single leadership team, with accountability for the whole railway instead of different parts, we can remove friction and make better, faster decisions to deliver a better service.
This new way of working puts customer needs front and centre, and will deliver a more joined up, responsive and sustainable railway.
This follows on from a watershed moment last month when South Western Railway (SWR) services became the first to transfer back into public control since the passing of the Public Ownership Bill, ending almost 30 years of fragmentation and waste under privatisation.
Over the last four weeks, WFP has been able to dispatch just 9,000 metric tons of food aid inside Gaza – a tiny fraction of what a population of 2.1 million hungry people needs.
What is even worse is that far too many people have died while trying to access the trickle of food aid coming in.
Only a massive scale-up in food distributions can stabilize the situation,calm anxieties and rebuild the trust within communities that more food is coming.
Safer and more reliable convoy routes, faster permission approvals, dependable communication services, and the opening of additional border crossings are urgently needed now.
The fear of starvation and desperate need for food is causing large crowds to gather along well-known transport routes, hoping to intercept and access humanitarian supplies while in transit.
Any violence resulting in starving people being killed or injured while seeking life-saving assistance is completely unacceptable.
WFP continues to call for the protection of all civilians and all aid workers delivering life-saving assistance.
During the ceasefire, WFP facilitated as many as 600 trucks per day into Gaza, which helped push back the tide of hunger.
WFP stands ready.We have food in the corridors, experienced teams on the ground, and proven systems in place to respond at scale.
What is urgently needed now is another ceasefire, so we can reach families with critical food supplies in a consistent, orderly and safe manner — wherever they are across the Gaza Strip.
The time to act is now. Delays cost lives. We must be allowed to safely do our jobs.
MOFA extends condolences following plane accident in India
Date：2025-06-12 Data Source：Department of East Asian and Pacific Affairs
June 12, 2025No. 205On June 12, Air India flight 171 crashed shortly after taking off from the airport in Ahmedabad in western India. On behalf of the people and government of Taiwan, the Ministry of Foreign Affairs (MOFA) promptly conveyed condolences to the India-Taipei Association and instructed the Taipei Economic and Cultural Center (TECC) in India to also express sympathies to India’s Ministry of External Affairs. In addition, TECC in India and TECC in Mumbai, after contacting relevant Indian agencies, have so far determined that no Taiwanese nationals were on the accident flight. MOFA and its missions in India will continue to closely follow developments, maintain contact with Indian agencies, and provide necessary assistance in a timely manner.Taiwanese nationals visiting India who require emergency assistance may call the hotlines of TECC in India (+91-9810642658), TECC in Mumbai (+91-8850842243), or TECC in Chennai (+91-9600099511). They may also ask friends or family in Taiwan to call the MOFA emergency hotline (0800-085-095). (E)
MOFA response to joint statement by leaders of Japan and Finland emphasizing importance of Taiwan Strait peace and stability
Date：2025-06-12 Data Source：Department of East Asian and Pacific Affairs
June 12, 2025Japanese Prime Minister Shigeru Ishiba and Finnish President Alexander Stubb met in Tokyo on June 11. In a joint statement, they said that Japan and Finland strongly opposed any unilateral attempts to change the status quo in the South and East China Seas by force or coercion, emphasized the importance of peace and stability across the Taiwan Strait as an indispensable element in the security and prosperity of the international community, and encouraged the peaceful resolution of cross-strait issues.This is the first time that the leaders of Japan and Finland have expressed their high concern for Taiwan Strait peace in a joint statement. Minister of Foreign Affairs Lin Chia-lung welcomes this concrete action by Japan and Finland to support peace and stability across the Taiwan Strait and appreciates Japan and other like-minded nations continuing to call the international community’s attention to the Taiwan Strait situation during international gatherings, including the US-Japan leaders’ summit in February, the meeting between Prime Minister Ishiba and NATO Secretary General Mark Rutte in April, and Japan’s summit meetings with Latvia and Guatemala in May. This shows the high degree of consensus and common interest that the international community has for maintaining peace and stability across the Taiwan Strait.The Ministry of Foreign Affairs hopes that democracies around the world will continue to take preventative action and countermeasures to stop the expansion of authoritarianism from posing a threat to regional peace and stability and challenging the rules-based global democratic order. Taiwan will uphold the ideals of integrated diplomacy as it continues to deepen cooperation with friends and allies, jointly advancing peace, stability, and prosperity throughout the Indo-Pacific region and around the globe.
MOFA announces one-year extension of trial visa-free entry for nationals of New Southbound Policy partner countries Thailand, Brunei, and the Philippines from August 1, 2025 to July 31, 2026
Date：2025-06-14 Data Source：Bureau of Consular Affairs
June 14, 2025In line with efforts to promote the New Southbound Policy (NSP), the Ministry of Foreign Affairs (MOFA) convened a meeting on April 16 with relevant government agencies on further improving visa measures for nationals of NSP partner countries traveling to Taiwan. The meeting conducted a comprehensive review of existing visa and entry measures, focusing on the trial visa-free entry program for nationals of Thailand, Brunei, and the Philippines; the Project for Simplifying Visa Regulations for High-end Group Tourists from Southeast Asian Countries; and conditional visa-free entry through the Online Application for R.O.C. (Taiwan) Travel Authorization Certificate (TAC) scheme for nationals of Southeast Asian countries.After evaluating the effectiveness of the above measures over the past years, participating agencies decided to extend the trial visa-free entry program for one year for nationals of Thailand, Brunei, and the Philippines from August 1, 2025, to July 31, 2026. In addition, the Project for Simplifying Visa Regulations for High-end Group Tourists from Southeast Asian Countries will be extended for a further year through December 31, 2026, and the conditional visa-free entry through the TAC scheme will remain in place.MOFA will continue to review and fine-tune visa policies, with a view to strengthening bilateral relations and attracting more visitors while ensuring border and public security. MOFA will also continue to communicate with the governments of related countries to enhance visa treatment for Taiwan nationals and make their overseas travel more convenient.
Foreign Minister Lin presents Friendship Medal of Diplomacy to former French Senator Gattolin
Date：2025-06-16 Data Source：Department of European Affairs
June 16, 2025 No. 211
Minister of Foreign Affairs Lin Chia-lung presented the Friendship Medal of Diplomacy to former French Senator André Gattolin at the Ministry of Foreign Affairs (MOFA) on the morning of June 16 in recognition of his long-standing efforts to promote Taiwan-France relations and his staunch support of Taiwan’s participation in international organizations.
In his speech, Minister Lin stated that Mr. Gattolin had long been a good friend of Taiwan in the French Senate, sparing no effort to speak up for Taiwan over the years. He pointed out that during the COVID-19 outbreak of 2020, Mr. Gattolin had taken the lead in bringing together a total of 110 members from both chambers of the French Parliament to sign an open letter calling for Taiwan’s participation in the World Health Organization, helping Taiwan gain widespread recognition in France and paving the way for the first passage of resolutions supportive of Taiwan in 2021 by both chambers.
He also mentioned that Mr. Gattolin had worked with French parliamentarians friendly to Taiwan to facilitate the adoption of the seven-year Military Programming Law in 2023, reiterating France’s continued defense of freedom of navigation in the Taiwan Strait. He added that during Mr. Gattolin’s tenure as French cochair of the Inter-Parliamentary Alliance on China (IPAC) in 2020, he had enthusiastically encouraged French parliamentarians to participate in various IPAC initiatives. On behalf of MOFA, Minister Lin extended sincere appreciation to Mr. Gattolin for having actively deepened Taiwan-France relations and expressed hope that he would continue to leverage his influence to further this bilateral friendship.
Mr. Gattolin said in his remarks that the honor of receiving the medal was not only a recognition of him personally but also a commendation of the French Senate’s Taiwan Friendship Group. He observed that the French Parliament’s support for Taiwan had continued to expand, noting that the Senate’s Taiwan Friendship Group had grown to over 60 members and that they continued to exhort the French government to attach greater importance to Taiwan. He stated that he was profoundly pleased to have been able to facilitate the training of Taiwan’s Olympic and Paralympic teams in his electoral district of Levallois-Perret last year. And as current vice chair of the IPAC Alumni Council, Mr. Gattolin affirmed that he continued to pay close attention to the situation across the Taiwan Strait and the Indo-Pacific region.
Deputy Director of the French Office in Taipei Cléa Le Cardeur, former Minister of Taiwan’s Council for Cultural Affairs Tchen Yu-chiou, and Chair of the Egret Cultural and Educational Foundation Lu Chia-hui attended the award ceremony and offered their congratulations. The atmosphere was heartfelt and earnest. (E)
Alaska’s rich and dynamic ecosystems draw scientists from around the world. But for the people who live here—many of whom have deep cultural, historical, and personal connections to the land and sea—it’s especially important that scientific research feels local, accessible, and relevant.
As part of the deep-sea research and exploration cruise in the Aleutian Arc, the expedition team, including scientists from the U.S. Geological Survey (USGS), the Bureau of Ocean Energy Management (BOEM), the National Oceanic and Atmospheric Administration (NOAA), and the Smithsonian Institute (SI) partnered with local organizations to host a series of community engagement events in Unalaska. These events provided a chance to connect with residents, share deep-sea research, and celebrate the incredible biodiversity and geology of this region. Here’s a look at some of the highlights:
Ship Tours of the R/VAtlantis
Community members—including representatives from the Qawalangin Tribe of Unalaska, the Museum of the Aleutians, Unalaska City Council, local students, and other organizations—toured the 274-foot research vessel Atlantis. One of the biggest highlights? Seeing the deep-diving submersible HOV Alvin in person!
Dive into Tidepools – Museum of the Aleutians
Christina Bonsell, marine ecologist with BOEM, had the pleasure of leading this hands-on event at the Museum of the Aleutians, where visitors of all ages got an up-close look at the incredible marine life found right in their own backyard. From sea stars to anemones, attendees explored tidepool creatures and learned about local biodiversity through interactive touch tanks and engaging conversations about life in the nearshore ocean.
“Exploring the Deep Sea: Hidden Habitats, Volcanoes, and More!” – Public Talk at the Unalaska Library
Scientists from the expedition team—including Bonsell, Cathleen Yung (NOAA), Ashton Flinders (USGS), Katlin Bowman Adamczyk (USGS), and Stephanie Bush (SI)—gave a public presentation at the library, sharing the goals and the exciting science behind the 2025 Aleutian Arc Expedition.
Ocean Discovery Day – Hands-on Science with Local Students
In partnership with the Qawalangin Tribe of Unalaska and the Museum of the Aleutians, the science team hosted a day of hands-on activities that brought deep sea science to life for local students:
Deep Sea Biodiversity: Students learned how scientists use Alvin to explore life in the deep sea, led by Rhian Waller (Gothenburg University) and Lauren Rice (Florida State University).
Traditional Boatbuilding: Keegan Salners, Matt Tutiakoff, and Anfesia Tutiakoff of the Qawalangin Tribe introduced students to iqyax (Aleutian kayak) design—and the students even built their own boats!
Volcanoes and Earthquakes: Ashton Flinders (USGS) got students moving and learning as they became “earthquake-makers” and explored seismic waveforms.
Archaeological Discoveries: Thomas McLenigan from the Museum of the Aleutians guided students through sorting fish, bird, and mammal bones from ancient midden material to reveal clues about past ecosystems.
Deep Sea Pressure: Shannon Cofield (BOEM) explained the effects of deep-sea pressure, and students decorated foam cups that will travel to the ocean depths and shrink to amusingly-small size.
Community Science and Ecosystem Knowledge: Shanoy Anderson from the Qawalangin Tribe led a discussion on local ecosystem observations and how to share them using the Local Environmental Observer (LEO) Network.
Students sort animal bones from ancient midden material in a hands-on archaeological activity during the Ocean Discovery Day. Image courtesy of The Aleutian Arc: Integrated Exploration of Biodiversity at Priority Benthic Habitats. Photographer: Art Howard.
It was an honor to collaborate with dedicated local partners and organizations to make this action-packed week of activities a success. These events offered an incredible opportunity to share our science, inspire curiosity, and build lasting connections with the community.
We can’t wait to share the discoveries we make as this deep-sea expedition unfolds.
Members of the local community including representatives from the Qawalangin Tribe of Unalaska, the Museum of the Aleutians, Unalaska City Council, local students, and other organizations had the chance to tour the research vessel Atlantis (Woods Hole Oceanographic Institution) in Dutch Harbor, Unalaska. Image courtesy of The Aleutian Arc: Integrated Exploration of Biodiversity at Priority Benthic Habitats. Photographer: Art Howard.
The Department of Justice filed a civil forfeiture complaint today in the U.S. District Court for the District of Columbia against more than $225.3 million in cryptocurrency. According to the complaint, law enforcement used blockchain analysis and other investigative techniques to determine that the cryptocurrency is connected to the theft and laundering of funds from victims of cryptocurrency investment fraud schemes, commonly referred to as “cryptocurrency confidence scams.”
The complaint alleges that the cryptocurrency addresses that held the over $225.3 million in cryptocurrency were part of a sophisticated blockchain-based money laundering network that executed hundreds of thousands of transactions and was used to disperse proceeds of cryptocurrency investment fraud across many cryptocurrency addresses and accounts on the blockchain to conceal the source of the illegally obtained funds.
“Today’s civil forfeiture complaint is the latest action taken by the Department to protect the American public from fraudsters specializing in cryptocurrency-based scams, and it will not be the last,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “These schemes harm American victims, costing them billions of dollars every year, and undermine faith in the cryptocurrency ecosystem. Our investigators and prosecutors are relentlessly pursuing these scammers and their ill-gotten gains, and we will relentlessly pursue recovery of victim funds.”
“Under my leadership, with the support of President Trump and Attorney General Bondi, the U.S. Attorney’s Office for the District of Columbia is taking a leading role in the fight against crypto-confidence scams, partnering with law enforcement throughout the country to seize and forfeit stolen funds and rip them from the hands of foreign criminals, all with the eye toward making victims whole,” said U.S. Attorney Jeanine Pirro for the District of Columbia.
“The forfeiture of these illicit funds is a powerful tool in the FBI’s toolbox to stop the fraudsters who are operating online from stealing from the American people,” said Assistant Director Jose A. Perez of the FBI Criminal Division. “The FBI will not standby while these criminals target unsuspecting victims who believe they are making legitimate investments. The hard work of the FBI and our partners continues as we work with victims and potential victims across the country to put an end to these scams and warn others about their devastating effects.”
“This seizure of $225.3 million in funds linked to cryptocurrency investment scams marks the largest cryptocurrency seizure in U.S. Secret Service (USSS) history,” said Special Agent in Charge Shawn Bradstreet of the USSS San Francisco Field Office. “These scams prey on trust, often resulting in extreme financial hardship for the victims. The USSS, FBI, and our private partners worked diligently to trace these illicit transactions, identify victims and seize these funds so that they can eventually be returned to their rightful owners.”
As part of the investigation of the laundering network, over 400 suspected victims are believed to have lost funds after being duped into believing that they were making legitimate cryptocurrency investments. The complaint recounts millions of dollars in victim losses. According to the FBI Internet Crime Complaint Center’s 2024 Internet Crime Report, cryptocurrency investment fraud caused more than $5.8 billion in reported losses in 2024 alone. The USSS San Francisco Field Office and FBI San Francisco Field Offices investigated the case. The Department of Justice thanks Tether for its proactive assistance in this investigation.
Trial Attorneys Stefanie Schwartz and Ethan Cantor of the Justice Department’s Computer Crime & Intellectual Property Section (CCIPS) and Assistant U.S. Attorneys Kevin Rosenberg and Rick Blaylock Jr. for the District of Columbia are handling the matter.
Members of the public who believe they are victims of cryptocurrency investment fraud and other cyber-enabled crime should contact the FBI Internet Crime Complaint Center at www.ic3.gov. If you believe you may be a victim of one of the scams alleged in the government’s complaint, add the code “BT06182025” in the narrative of your complaint, and if you have previously filed a related complaint, make note of the prior complaint in the narrative.
The Department of Justice filed a civil forfeiture complaint today in the U.S. District Court for the District of Columbia against more than $225.3 million in cryptocurrency. According to the complaint, law enforcement used blockchain analysis and other investigative techniques to determine that the cryptocurrency is connected to the theft and laundering of funds from victims of cryptocurrency investment fraud schemes, commonly referred to as “cryptocurrency confidence scams.”
The complaint alleges that the cryptocurrency addresses that held the over $225.3 million in cryptocurrency were part of a sophisticated blockchain-based money laundering network that executed hundreds of thousands of transactions and was used to disperse proceeds of cryptocurrency investment fraud across many cryptocurrency addresses and accounts on the blockchain to conceal the source of the illegally obtained funds.
“Today’s civil forfeiture complaint is the latest action taken by the Department to protect the American public from fraudsters specializing in cryptocurrency-based scams, and it will not be the last,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “These schemes harm American victims, costing them billions of dollars every year, and undermine faith in the cryptocurrency ecosystem. Our investigators and prosecutors are relentlessly pursuing these scammers and their ill-gotten gains, and we will relentlessly pursue recovery of victim funds.”
“Under my leadership, with the support of President Trump and Attorney General Bondi, the U.S. Attorney’s Office for the District of Columbia is taking a leading role in the fight against crypto-confidence scams, partnering with law enforcement throughout the country to seize and forfeit stolen funds and rip them from the hands of foreign criminals, all with the eye toward making victims whole,” said U.S. Attorney Jeanine Pirro for the District of Columbia.
“The forfeiture of these illicit funds is a powerful tool in the FBI’s toolbox to stop the fraudsters who are operating online from stealing from the American people,” said Assistant Director Jose A. Perez of the FBI Criminal Division. “The FBI will not standby while these criminals target unsuspecting victims who believe they are making legitimate investments. The hard work of the FBI and our partners continues as we work with victims and potential victims across the country to put an end to these scams and warn others about their devastating effects.”
“This seizure of $225.3 million in funds linked to cryptocurrency investment scams marks the largest cryptocurrency seizure in U.S. Secret Service (USSS) history,” said Special Agent in Charge Shawn Bradstreet of the USSS San Francisco Field Office. “These scams prey on trust, often resulting in extreme financial hardship for the victims. The USSS, FBI, and our private partners worked diligently to trace these illicit transactions, identify victims and seize these funds so that they can eventually be returned to their rightful owners.”
As part of the investigation of the laundering network, over 400 suspected victims are believed to have lost funds after being duped into believing that they were making legitimate cryptocurrency investments. The complaint recounts millions of dollars in victim losses. According to the FBI Internet Crime Complaint Center’s 2024 Internet Crime Report, cryptocurrency investment fraud caused more than $5.8 billion in reported losses in 2024 alone. The USSS San Francisco Field Office and FBI San Francisco Field Offices investigated the case. The Department of Justice thanks Tether for its proactive assistance in this investigation.
Trial Attorneys Stefanie Schwartz and Ethan Cantor of the Justice Department’s Computer Crime & Intellectual Property Section (CCIPS) and Assistant U.S. Attorneys Kevin Rosenberg and Rick Blaylock Jr. for the District of Columbia are handling the matter.
Members of the public who believe they are victims of cryptocurrency investment fraud and other cyber-enabled crime should contact the FBI Internet Crime Complaint Center at www.ic3.gov. If you believe you may be a victim of one of the scams alleged in the government’s complaint, add the code “BT06182025” in the narrative of your complaint, and if you have previously filed a related complaint, make note of the prior complaint in the narrative.
Updated key information relating to the share consolidation:
Date on which the terms and conditions of the share consolidation was made public: 11 April 2025;
Share consolidation ratio: 100 old shares give 1 new share;
Last day including right: 3 July 2025;
Ex-date: 4 July 2025;
Record date: 7 July 2025; and
Date of approval: 11 April 2025
In connection with the share consolidation, the Company’s shares will be transferred to a new ISIN. Please find below the updated key information for the change of ISIN:
Issuer: IDEX Biometrics ASA
Old ISIN: NO0013107490
New ISIN: NO0013536078
Date of ISIN change: 4 July 2025.
Rounding rules: If the share consolidation (reverse split) does not result in whole shares (fractional shares), the Board has in place an authorization from the 11 April 2025 Extraordinary General Meeting in the Company to carry out a share capital increase to the extent necessary to make the total number of shares in the Company dividable by the share consolidation ratio (i.e. dividable by 100).
Date of approval: 11 April 2025
About IDEX Biometrics:
IDEX Biometrics ASA (IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market. For more information, visit www.idexbiometrics.com
About this notice:
This notice was issued by Kristian Flaten, CFO, on 18 June 2025 at 17:22 CET on behalf of IDEX Biometrics ASA. The information shall be disclosed according to section 5-8 of the Norwegian Securities Trading Act (STA) and released in accordance with section 5-12 of the STA.
On the Auction Date, between 10:30 am and 11:00 am, the Government Debt Management will auction Treasury bonds in the Series, with the ISIN numbers and with the Maturity Dates according to the table above. Payments for the Treasury bonds must be received by the Central Bank before 14:00 on the Settlement Date, and the Bonds will be delivered in electronic form on the same day. Article 6 of the General Terms of Auction for Treasury bonds applies for the right to purchase an additional 10%.
RIBER reaffirms its strategic roadmap at the Annual General Meeting held on June 18, 2025
Bezons, June 18, 2025 – 5:45 PM – RIBER, a global market leader for molecular beam epitaxy (MBE) equipment for the semiconductor industry, held its Annual General Meeting today, chaired by Mrs. Annie Geoffroy, Chairwoman of the Company’s Board of Directors.
All of the resolutions submitted to the vote were approved, including:
The approval of the statutory and consolidated financial statements for the 2024 financial year.
The appropriation of 2024 earnings and the distribution of a cash payout based on reimbursing part of the issue premium for €0.08 per share. The ex-dividend date will be June 23, 2025, followed by payment on June 25, 2025.
The approval of the Statutory Auditors’ special report on related-party agreements.
The authorizations granted to the Board of Directors to carry out transactions on the Company’s shares and to reduce the share capital by canceling treasury shares.
A clear, forward-looking strategy
During the Annual General Meeting, Annie Geoffroy reviewed RIBER’s performance and reaffirmed the relevance of its strategic roadmap. Built on a culture of excellence, continuous innovation, strong customer focus, and an agile organization, this strategy positions RIBER at the forefront of major transformations in the semiconductor industry, including the emergence of silicon-based integrated photonics (PICs).
Several examples of the Company’s innovation momentum were shared, particularly the exclusive preview of ROSIE (Riber Oxide Silicon Epitaxy), an advanced platform designed for oxide growth on 300 mm wafers and fully compatible with SEMI standards.
Representing a genuine technological breakthrough, ROSIE paves the way for automated production of epiwafers tailored to the new integration needs of advanced materials in microelectronics. The platform targets several fast-growing markets:
ultra-fast optical communications, particularly the Datacom / Telecom segments,
optical computing,
photonic quantum technologies.
This structuring project is now entering its industrialization phase, following the signature of a strategic partnership with the Novo Nordisk Foundation Quantum Computing Programme (NQCP). The agreement includes the qualification of the ROSIE process for depositing functional oxides on silicon, as well as the sale of the platform’s first unit, scheduled for delivery in the second half of 2025.
This strategic milestone highlights RIBER’s ambition to become an integral part of silicon fab production lines and reflects the industry’s recognition of the Company’s technological expertise, particularly from a global quantum research leader.
A confirmed roadmap and strengthened outlook
In conclusion, Annie Geoffroy emphasized the strength of RIBER’s strategic positioning: “Our strategy is guiding us with clarity and relevance. In a high-potential semiconductor sector, we are continuing to grow, driven by solid commercial momentum for our MBE equipment. At the same time, we are enhancing our growth and diversification potential with the industrial rollout of ROSIE and the emergence of new commercial opportunities in silicon-based integrated photonics.“
The Company would like to thank all the shareholders who took part in the General Meeting. Quorum conditions and full voting results will be published shortly on the Company’s website:www.riber.com
About RIBER
Founded in 1964, RIBER is the global market leader for MBE – molecular beam epitaxy – equipment. It designs and produces equipment for the semiconductor industry and provides scientific and technical support for its clients (hardware and software), maintaining their equipment and optimizing their performance and output levels. Accelerating the performance of electronics, RIBER’s equipment performs an essential role in the development of advanced semiconductors that are used in numerous applications, from information technologies to photonics (lasers, sensors, etc.), 5G telecommunications networks and research, including quantum computing. RIBER is a BPI France-approved innovative company and is listed on the Euronext Growth Paris market (ISIN: FR0000075954). www.riber.com
Headline: Strengthen business resilience with Windows 365 and Azure Virtual Desktop
Build a future-ready IT strategy with secure, scalable cloud solutions
In the face of today’s complex and interconnected work ecosystems, resilience isn’t just a safeguard; it’s a strategic imperative for IT leaders driving sustainable transformation. True resilience means building an environment that proactively minimizes disruptions through robust systems, secured architectures and operational foresight. Resilience means an organization can anticipate, respond and recover swiftly, maintaining continuity without compromise. Security plays a foundational role in this approach.
That’s why cloud-powered solutions such as Windows 365 and Azure Virtual Desktop are essential; they empower organizations to build resilience from the ground up. By enabling secure and scalable Windows experiences, these services help minimize disruptions, support flexible work and protect business continuity. Whether it’s seamless access to apps and data or built-in security and compliance, customers rely on these solutions to stay productive and protected, no matter where or how they work.
Building on that foundation, we’re introducing new experiences across Windows 365 and Azure Virtual Desktop, each designed to strengthen organizational resilience through simplified, secured and flexible Windows solutions.
And to make it easier for organizations to take the first step, new customers can take advantage of a limited-time 20% discount on all Windows 365 plans. Visit Windows 365 todayto take advantage of the 20% promotional offer.
Introducing Windows 365 Reserve: uninterrupted access, secured and ready when users need it
Unexpected disruptions such as a lost, stolen, delayed or malfunctioning device can bring productivity to a halt and lead to considerable financial and operational losses. A recent study, which surveyed 1,000 ITDMs across a range of industries, highlighted the impact on business operations caused by device thefts and resulting data breaches. Seventy-six percent of those surveyed reported having been impacted by incidents of device theft in the last two years, with 33% reporting they were subjected to legal or regulatory consequences due to compromised data and 32% citing disruption to employee productivity. 1
With Windows 365 Reserve, a new offering from Microsoft, employees can have instant access to a temporary, pre-configured Cloud PC when their primary device is unavailable. Windows 365 Reserve provides a secure, cloud-hosted Windows desktop that looks and feels like a physical PC, and is accessible from any device, anywhere, so employees can continue being productive.
Device disruptions are more than an inconvenience — they’re a business risk that can lead to lost revenue, delayed service and reduced employee productivity.
Windows 365 Reserve helps mitigate these risks by enabling:
Business continuity during device loss, theft, delivery delays or outages
Temporary access for onboarding, remote work delays or testing new OS/app configurations
Faster recovery from disruptions, reducing downtime and IT burden
Windows 365 Reserve isn’t your traditional virtual desktop infrastructure (VDI) solution — it’s a modern, secured and scalable offering designed for any type of worker across the entire organization to stay uninterrupted and productive, without the hassle or cost of managing cumbersome loaner PCs, temporary backup PC solutions or legacy VDI access. Each Reserve Cloud PC is preloaded with Microsoft 365 apps,2 corporate settings and security policies — ensuring data protection and compliance. IT teams can manage both physical and Cloud PCs — including these new Reserve Cloud PCs — through Microsoft Intune, streamlining endpoint oversight and reducing complexity. And because users can connect to their Reserve Cloud PC within minutes from any device using the Windows App or a browser to access the Windows 11 experience, there is minimal disruption to their workflow and business continuity.
Windows 365 Reserve will soon be available for preview. Complete this form or contact your Microsoft account team to express interest in participating in the preview.
Windows 365 Cloud Apps: app streaming without the full desktop
Now in private preview, Windows 365 Cloud Apps let organizations deliver secure access to individual apps hosted on Cloud PCs, without requiring a dedicated Cloud PC for every user. Windows 365 Cloud Apps are a great fit for enterprise customers whether they’re experienced with VDI or just starting their cloud journey. They also give IT teams more flexibility to support a range of user needs and scenarios, while maintaining centralized control. Organizations can use Windows 365 Cloud Apps to:
Streamline app delivery for frontline, seasonal or remote workers
Provide information workers with the line of business apps they require
Simplify management with Windows 365 and Microsoft Intune integration
Accelerate migration from on-premises VDI to the cloud
Windows 365 Cloud Apps will soon be available for preview. Complete this form or contact your Microsoft account team to express interest in participating in the preview.
Windows 365 Link: purpose-built Cloud PC device gets even better
Windows 365 Link — the first Cloud PC device purpose-built by Microsoft for Windows 365 — became generally available in select markets in April 2025 and is expanding to more markets later this year. To make the experience of using Windows 365 Link even better, we are excited to introduce the following updates:
Connection Center: access multiple Cloud PCs with ease
The Connection Center makes accessing multiple Cloud PCs from a Windows 365 Link simple and intuitive. For users with more than one Cloud PC and no default set, the Connection Center prompts them to choose the Cloud PC they want to use right at sign-in. This means less confusion and more control.
The Connection Center also empowers users with self-service tools to reboot, restore and manage their Cloud PCs without needing IT support. If something goes wrong, people can quickly access troubleshooting options — minimizing downtime and boosting productivity.
This experience is now generally available, and starting mid-July, the Connection Center can also be launched from the Ctrl+Alt+Delete screen, making it even more accessible.
Connection Center showing multiple Cloud PCs after sign-in
Enhanced multi-monitor support for a more flexible Windows 365 Link experience
For users who rely on multiple monitors to stay productive, Windows 365 Link now offers expanded display settings — available in preview. Users can easily configure duplicate or extend monitors, giving them the flexibility to mirror their screen or expand their workspace across displays.
We have also added intuitive controls to adjust resolution, scale and orientation — all fully integrated into the Cloud PC settings. That means they can personalize their display setup directly from the familiar Display Settings menu, just like on a local PC.
With these latest updates, Windows 365 Link makes it even easier to work more efficiently, multitask seamlessly and tailor your Cloud PC experience to meet your unique workflows.
Accessing display settings for Windows 365 Link
Making sign-in even easier with NFC reader support
We have heard from customers that using near-field communication (NFC) readers helps streamline the Windows sign-in experience — especially in environments where speed and security are critical. That is why, based on your feedback, we introduced preview support for NFC readers for FIDO2 security keys with the launch of Windows 365 Link in April 2025. Today, we’re excited to announce that NFC reader support is now generally available. Users can simply tap their FIDO2 security key on a USB NFC reader and enter their PIN to sign in. This enhancement helps organizations improve both security posture and user productivity, especially in shared device or frontline scenarios. To learn more, check out the documentation.
To purchase Windows 365 Link for desk-based and frontline users in your organization, contact your Microsoft account team or select resellers in Australia, Canada, Germany, Japan, New Zealand, the United Kingdom and the United States. We continue to expand availability to new markets, including Denmark, France, India, Netherlands and Sweden, with Switzerland anticipated later this year.
Cross-region Disaster Recovery is available for Windows 365 Frontline
Disaster recovery is a critical consideration for any IT desktop strategy. When it comes to virtualization, most organizations consider disaster recovery a primary objective. Since its introduction, Windows 365 has provided robust business continuity and disaster recovery options. Whether for compliance requirements, natural disasters, technical failure or human error, putting greater distance between your primary and backup environments can add an extra sense of security and peace of mind to any IT desktop strategy.
On July 1, 2024, we introduced Cross-region Disaster Recovery, an add-on feature for Windows 365 Enterprise that creates “snapshots” of Cloud PCs. These snapshots are placed in customer-defined, geographically distant locations, and they can be recovered to Cloud PCs running in the selected location during a disaster recovery event.
Today, we are excited to announce Cross-region Disaster Recovery is available in public preview as an add-on for Windows 365 Frontline. Now, in addition to Windows 365 Enterprise users, any user assigned to a dedicated Windows 365 Frontline Cloud PC will also be shielded against regional outages. If you’re interested in signing up for the public preview, please use this form. To learn more, read Cross-region Disaster Recovery in Windows 365 | Microsoft Learn.
Secure by default: New security settings for Windows 365 Cloud PCs
New default security settings are available for new and newly reprovisioned Cloud PCs. These updates mean Cloud PCs are more secure by default and include:
Disabling select redirections, such as USB and clipboard, making it easier for organizations to protect their data
Enabling additional security controls, including virtualization-based security, to better protect against credential theft and kernel-level exploits
These updates are part of Microsoft’s commitment to making our products more secure by default, one of the core principles of our Secure Future Initiative.
Powering high-performance scenarios: GPU support now available in HP Anyware for Windows 365
We’re expanding our collaboration with HP Anyware to support GPU-enabled Windows 365 Enterprise Cloud PCs, now in preview. This integration brings the power of PC-over-IP (PCoIP) — a protocol known for delivering high-definition, low-latency performance — to Windows 365, making it ideal for graphics-intensive workloads such as 3D modeling, video editing and data visualization.
With HP Anyware for Windows 365, users can securely access their Cloud PCs through a familiar digital workspace, while IT admins benefit from simplified deployment and management with Intune — no additional gateways or network reconfiguration required.
To learn more or join the public preview of HP Anyware for Windows 365 GPU-enabled Enterprise Cloud PCs, contact your Microsoft account team or sign up to be notified.
Bridge legacy and modern app delivery: App-V support now available for App attach in Azure Virtual Desktop
Microsoft Application Virtualization (App-V) for Windows is now supported by App attach in Azure Virtual Desktop and is generally available, marking a major step forward in application delivery for virtual environments.
Organizations can incorporate existing App-V packages into the App attach framework without repackaging. This capability streamlines the transition to Azure Virtual Desktop by preserving investments in legacy applications while enabling more modern and scalable delivery.
The time for this update is critical, as App-V enters a phase of extended support. By bridging the gap between legacy application virtualization and modern desktop infrastructure, App attach combines continuity with innovation to help teams maintain stability while evolving their cloud strategy. To learn more about App-V support in App attach and to find information about partner solution integration with App attach visit our Azure Virtual Desktop documentation pages.
Windows App updates: better Microsoft Teams, printing and remote access
The Windows App is your gateway to securely connect to Windows on any device across Windows 365, Azure Virtual Desktop, Remote PC, Remote Desktop Services, Microsoft Dev Box and more. Available on Windows, macOS, iOS, iPadOS,3 web browsers and now Android,4 it brings a unified, modern experience across platforms, making it easier than ever to access your Cloud PCs, virtual machines (VMs) and remote resources anywhere on any device. With the latest updates, we are excited to announce several new capabilities that will enhance your experience and productivity.
Better Microsoft Teams performance on mobile: in public preview for Windows App on Android and iOS/iPadOS
Building on last year’s Teams optimizations for Windows App on Windows, new exclusive optimizations for the Windows App on Android and iOS/iPadOS will soon be available in the newest versions of Windows App. These enhancements improve audio and sound quality in Teams, reducing issues and enhancing the overall user experience. Learn more.
New Remote App launcher in Windows App on web
People connecting to Windows App via the web can access the Remote App launcher directly from the toolbar inside the web client. The Remote App launcher can be used to launch additional apps from the same workspace without switching between tabs, making app discovery and launching apps more seamless.
New printing capabilities in Windows App on web
Windows App on web now supports new printing capabilities for locally attached printers on Windows 365 and Azure Virtual Desktop. Users can easily print documents directly to their locally attached printers, streamlining the printing process and eliminating extra steps between viewing and printing documents.
Native access to remote sessions in Windows App on web
You can now utilize the Windows App on web to access Windows 365 and Azure Virtual Desktop remote sessions natively. By simply selecting the “Connect in desktop app” option from the dropdown menu, you can open the desktop version of the Windows App.
Users can also access their desktops and apps using direct launch URLs in Windows App on web. Learn more.
Resilience starts with the right tools so organizations can stay agile, secured and ready
Organizational resilience isn’t just convenient; it’s an essential approach to remain functional, flexible, prepared and competitive. With the latest enhancements to Windows 365 and Azure Virtual Desktop, Microsoft is enabling organizations to safeguard business continuity, navigate disruptions with confidence and maintain control. Now is the time to explore how these innovations can help strengthen your resilience strategy.
Get 20% off Windows 365 today
Microsoft is currently offering a 20% discount on all Windows 365 plans for the first 12 months for new customers, making it an even more compelling option for those looking to transition smoothly. Visit Windows 365 today to take advantage of the 20% promotional offer.*
* Notice: Microsoft reserves the right to discontinue this promotion, and to modify these policies and the promotion’s terms and conditions at any time.
This offer runs from May 1 to Oct. 31, 2025, and is for customers not currently subscribing to Windows 365. Transactions must be processed through Microsoft’s operations center before 11:00 p.m. Pacific Time on Oct. 31, 2025. This offer is non-transferable and cannot be combined with any other offer or discount on Windows 365. This offer is available only once per customer. The discount price will be in effect for the duration of the purchase commitment. Purchases made prior to the effective date of the offer are not eligible. Taxes, if any, are the sole responsibility of the recipient.
Source: Study Highlights Prevalence of Device Theft and the Impacts on Businesses in U.S. and Europe. April 22, 2025; Methodology: study conducted by market research firm, Vanson Bourne on behalf of Kensington Computer Products Group; Survey size: 1,000 IT decision-makers.
Microsoft 365 subscription is required.
macOS and iPadOS are trademarks of Apple Inc., registered in the U.S. and other countries and regions. IOS is a trademark or registered trademark of Cisco in the U.S. and other countries and is used under license.
The African Energy Week (AEW): Invest in African Energies conference – taking place September 29 to October 3 in Cape Town – will host an Energy Finance Track, dedicated to exploring the opportunities, challenges and emerging trends across Africa’s investment environment. The Energy Finance Track – hosted across the three-day main conference agenda – covers a variety of topics and aims to reduce risk perception, identify strategic investment avenues while exploring innovative finance models that drive projects forward in Africa.
The Energy Finance Track features a suite of companies, all of which will tackle strategic topics. These include African and global national oil companies, global energy and intelligence firms, energy and technology service providers, downstream regulators, upstream operators, African E&P firms, renewable energy developers, and many more. From access to finance to investment risks to Merger & Acquisition (M&A) activity, regional projects and development finance, the track will support decision-making and deal-signing in Africa’s energy sector.
AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visitwww.AECWeek.comfor more information about this exciting event.
Africa’s energy sector continues to witness a surge in investment, as both operators and financiers expand their portfolios across the continent. In 2025, capital expenditure across the continent is projected to hit $43 billion, rising to $54 billion by 2030. Onshore projects are expected to represent the lion’s share of expenditure at 56%, while natural gas is estimated to draw the majority of capital by 2030, accounting for over 60% of hydrocarbon investment during this period. Deepwater exploration is also on the rise, particularly in frontier markets such as Namibia and Ivory Coast. Financing exploration and production projects remains a key challenge, however, as the global capital pool continues to decline. The AEW: Invest in African Energies Energy Finance Track will address this challenge, with panels geared towards exploring innovative strategies to raise capital for oil and gas projects. Sessions include Reducing Barriers to Entry in African Energy Investments; Financing Upstream Projects for Domestic Energy Security; Sourcing International and African Capital for the Acquisition and Development of Marginal and Undeveloped Fields; and African Equity Risk Premium.
Africa’s M&A landscape has also proven to be dynamic in recent years, with future projections showing a positive growth trajectory as companies seeks new investment and partnership opportunities across the continent. Driven by rising capital expenditure, a surge in exploration and a focus on frontier basins across the continent, M&A activity continues to grow in Africa. Amid this growth, the Energy Finance Track will address strategies for supporting future M&A activity. Sessions on Strategic Financing for M&A and Navigating Risk and Insurance in African M&A, will examine identified risk and liabilities between buyers and sellers and how access to capital, regulatory hurdles and shifting investment trends are impacting Africa’s M&A landscape.
Beyond oil and gas, Africa’s renewable energy and power landscape is on track for significant growth, as countries diversify their energy systems and seek to support broader economic growth. With over 600 million people living without access to electricity across the continent, African countries are accelerating the pace and development of power infrastructure, from generation to transmission to storage. Yet, financing challenges remain. The International Energy Agency projects that to meet the continent’s energy access, climate and development goals, Africa requires annual energy investments to more than double to over $240 billion by 2030. Key sectors include energy access, power systems and emerging industries such as clean energy technologies.
The Energy Finance Track will unpack the role innovative financing mechanisms and regional collaboration plays in achieving the continent’s energy and development goals. Sessions on Intra-Africa Commodities Trading and Financing Cross-Border Pipelines and Shared Infrastructure Projects will explore how increased regional trade can serve as a catalyst for economic development in Africa. Additionally, sessions on Integrated Energy Projects: Is Financing Easier and Energy Finance Strategies: Lessons Across Africa will examine how blended finance, public-private partnership models and development finance can support energy development.
“The AEW: Invest in African Energies 2025 Energy Finance Track offers a unique opportunity for African financiers to gain insight into emerging opportunities across the continent. At the same time, the track offers project developers, governments and public institutions the chance to explore new methods of financing, while addressing critical challenges to energy development,” stated Oré Onagbesan, AEW: Invest in African Energies Program Director.
Distributed by APO Group on behalf of African Energy Chamber.
ATLANTA (June 18, 2025) — Recently, Lt. Governor Burt Jones appointed Sen. Emanuel Jones (D–Decatur) to the Senate Study Committee on Making Georgia the No. 1 State for Tourism.
“I’m grateful to Lt. Governor Burt Jones for appointing me to this important study committee,” said Sen. Jones. “We have an opportunity to bring inclusive growth and investments to communities across Georgia by showcasing the best attributes of our state. From neighborhood revitalization to job creation, a strong tourism strategy can uplift families and support small businesses. I look forward to working with my colleagues to help Georgia reach its full potential as a premier destination—one that truly reflects the richness and diversity of our state.”
The Senate Study Committee on Making Georgia the No. 1 State for Tourism is tasked with discovering opportunities to promote and develop tourism in all regions of the state. Sen. Drew Echols (R-Gainesville) will serve as Chairman of the committee. Additional Senate members appointed to the committee include Sen. Frank Ginn (R–Danielsville), Sen. Russ Goodman (R–Cogdell) and Sen. Sonya Halpern (D–Atlanta).
More information about Senate Study Committees can be found here.
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Sen. Emanuel Jones represents the 10th Senate District, which includes a portion of DeKalb County. He may be reached at 404.656.0502 or via email atemanuel.jones@senate.ga.gov.
For all media inquiries, please reach out toSenatePressInquiries@senate.ga.gov.
ATLANTA (June 18, 2025) — Yesterday, the Georgia Senate Republican Caucus announced that Sen. Larry Walker III (R–Perry) has been selected as its nominee for President Pro Tempore of the Georgia State Senate, following today’s internal caucus vote. Walker, who has served the 20th Senate District since 2015, will stand for formal election by the full Senate body at the start of the new legislative session in January 2026.
“I’m honored by the support and confidence of my Republican colleagues,” said Sen. Walker. “This nomination reflects our shared vision for a Senate that remains fair, efficient and stands in service to the people of Georgia. While January’s full Senate vote is still to come, I’m prepared to bring forward my experience and commitment to this important role.”
In the position of President Pro Tempore, Walker would preside over Senate sessions in the absence of the Lieutenant Governor and collaborate closely with Senate leadership to streamline legislative procedure and enhance transparency.
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Sen. Larry Walker III serves as Chairman of the Senate Committee on Insurance and Labor. He represents the 20th Senate District, which includes Bleckley, Dodge, Dooly, Laurens, Treutlen, Pulaski and Wilcox counties, as well as portions of Houston County. He may be reached by phone at (404) 656-0095 or by email atLarry.Walker@senate.ga.gov.
For all media inquiries, please reach out toSenatePressInquiries@senate.ga.gov.
A Texas man is facing federal charges after allegedly purchasing powerful explosives in New Mexico and expressing plans to use them to harm law enforcement officers and government officials during riots in California.
According to court documents, on June 12, 2025, Grzegorz Vandenberg, 48, visited a travel center in Lordsburg, New Mexico, to purchase fireworks. During the transaction, Vandenberg requested assistance in selecting fireworks that could be thrown directly at people to cause harm. He told store employees that he was prior special forces military and claimed he could make pipe bombs. Vandenberg further stated that he was traveling to Los Angeles, California, for the riots, with the intent to kill law enforcement officers or government officials.
“This man allegedly intended to use the chaotic riots in Los Angeles as an opportunity to commit deadly violence against law enforcement officers,” said Attorney General Pamela Bondi. “Threats like these strike at the heart of law and order — we will not hesitate to bring federal charges against anyone who seeks to harm law enforcement or endanger the safety of our communities.”
“Our message is clear: If you come after law enforcement officers, the FBI will spare no effort to find you and bring you to justice,” said FBI Director Kash Patel. “This defendant allegedly intended to use explosives to attack police officers currently conducting law enforcement operations in Los Angeles and – with the help of a store cashier who took down his license plate information – we were able to put a stop to that plan. Law enforcement officers put their lives on the line to serve the American people and the FBI will always do our part to protect them.”
“Targeting law enforcement with violence is not protest – it’s a crime,” said U.S. Attorney Ryan Ellison for the District of New Mexico. “Anyone who attempts to harm officers or undermine public safety will be held accountable. Protecting the safety of our communities and upholding the integrity of lawful demonstrations are priorities, and those who cross the line into violence will be prosecuted swiftly and to the fullest extent of the law.”
Store staff reported that Vandenberg asked for the largest explosives available and invited an employee to join him and his platoon in California. He also claimed to have mortar explosives in his possession and reiterated his plan to use them at the riots to kill officers. Vandenberg purchased six mortars, each containing 60 grams of gunpowder, and 36 large fireworks before leaving the store in a vehicle with Montana license plates, heading west on Interstate 10.
Vandenberg is charged with transporting explosives in interstate commerce with the knowledge and intent that they would be used to kill, injure, or intimidate individuals. He will remain in custody pending trial, which has not yet been scheduled. If convicted of the current charges, Vandenberg faces up to 10 years in federal prison.
The Las Cruces Resident Agency of the FBI’s Albuquerque Field Office investigated this case with assistance from the Tucson Resident Agency of the FBI’s Phoenix Field Office, Tucson Police Department, U.S. Air Force Office of Special Investigations, and Homeland Security Investigations (HSI) El Paso.
Assistant U.S. Attorneys Joni Stahl and Grant Gardner for the District of New Mexico are prosecuting the case, with valuable assistance provided by Trial Attorney Patrick Cashman of the National Security Division’s Counterterrorism Section.
A criminal complaint is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
Gov. Kelly Armstrong today helped break ground on an expansion project that will double the number of inpatient beds at Altru Behavioral Health Center in Grand Forks, highlighting the state’s significant investments to address behavioral health needs across North Dakota.
Armstrong recently signed legislation providing a $12.96 million grant to expand the number of inpatient behavioral health beds at the Altru facility from 24 to 48 beds. The grant was included in the North Dakota Department of Health and Human Services (DHHS) budget, House Bill 1012, and requires Altru to provide matching funds of $3.24 million.
“This is a game-changer for behavioral health services in Grand Forks and the surrounding region, because when it comes to meeting the mental health needs of our citizens in their most vulnerable moments, every single bed counts,” Armstrong said.
He noted the Legislature also approved $16 million for 30 behavioral health beds in Bismarck with a focus on youth and $3.4 million for 10 behavioral health beds in Williston. In addition, lawmakers approved $300 million for construction of a new State Hospital in Jamestown, which will provide 140 treatment beds to serve those most in need of acute mental health services.
Armstrong thanked state Rep. Emily O’Brien of Grand Forks, Rep. Jon Nelson of Rugby and other lawmakers for their support for the Altru project and broader work on expanding behavioral health services, as well as Altru President Dr. Josh Deere and CEO Todd Forkel, Universal Health Services’ Behavioral Health Division President Matt Peterson, Grand Forks Mayor Brandon Bochenski and the DHHS Behavioral Health Division including Executive Director Pam Sagness for their commitment to North Dakotans’ mental health.
The Altru Behavioral Health Center expansion is expected to be completed by fall 2026.
ROCHESTER, N.Y., June 18, 2025 (GLOBE NEWSWIRE) — American Power Company (APC), a pioneer in AI-driven battery manufacturing optimization, has been awarded a $100,000 SuperBoost grant from the National Science Foundation Energy Storage Engine in Upstate New York. The funding will accelerate the development of APC’s AI-powered cell formation optimization model, designed to improve lithium-ion battery performance, reduce production time and lower manufacturing costs.
The formation cycling process — the precise charge-discharge sequence that activates a newly assembled battery — plays a crucial role in determining a battery’s efficiency, longevity and energy density. However, current methods remain slow and costly. APC’s project will integrate artificial intelligence and active learning techniques to refine this process, offering a pathway to faster, more cost-effective and higher-performing battery production.
The ability to optimize battery formation cycling has broad implications for the energy storage sector. By reducing the formation cycle time from multiple days to just hours, APC’s AI-driven solution could significantly cut production costs and enable faster scaling of lithium-ion gigafactories worldwide. With an initial focus on lithium iron phosphate (LFP) pouch cells, the project will use the RIT Battery Development Center to conduct experimental validation and process refinement.
“Battery cell formation is a well-known bottleneck in lithium-ion cell production,” said Lincoln Miara, CTO of American Power Company. “Our AI-driven approach has the potential to drastically reduce cycle times while enhancing battery quality. With the support of the NSF Energy Storage Engine in Upstate New York, we’re developing a scalable solution that will optimize global battery production.”
The SuperBoost program, a core initiative of the Energy Storage Engine, is designed to fast-track the commercialization of transformative battery technologies. By reducing the time-to-market from over five years to under two years, the program connects startups with funding, infrastructure and industry partnerships to support rapid technology deployment.
SuperBoost funding has already accelerated numerous groundbreaking projects, and AI-driven manufacturing is a particularly critical area of focus as the industry looks to scale battery production efficiently.
Fernando Gómez-Baquero, translation pillar director for the NSF Energy Storage Engine in Upstate New York, emphasized that APC’s innovation aligns directly with the Engine’s mission to enhance U.S. battery manufacturing capabilities. “The SuperBoost program is about advancing technologies that make energy storage manufacturing more efficient, scalable and cost-effective. American Power Company’s AI-powered approach to formation cycling will help streamline production while improving battery performance, a critical step in strengthening U.S. battery supply chains.”
Bridging the gap between laboratory research and commercial-scale production is a defining goal of the Engine’s strategy. Meera Sampath, CEO of the NSF Energy Storage Engine in Upstate New York, noted the broader industry impact of AI-driven innovation in battery production. “This is exactly the type of technology needed to advance the next generation of lithium-ion battery production,” she said. “By supporting innovations in AI-driven manufacturing, we are helping companies like APC optimize production workflows and accelerate the adoption of cutting-edge battery solutions.”
With this funding, American Power Company is set to refine its AI-driven formation model, pilot real-world applications, and bring a next-generation battery manufacturing optimization tool to market. The project aligns with the Engine’s broader mission to position upstate New York as a global leader in battery technology, manufacturing, and commercialization.
AboutAmericanPowerCompany
American Power Company is revolutionizing lithium-ion battery manufacturing with AI- powered optimization models that enhance energy efficiency, reduce production costs, and improve battery performance. By leveraging machine learning and experimental validation, APC develops advanced manufacturing solutions that drive innovation in the EV, energy storage and consumer electronics sectors. Learn more at www.americanpower.ai.
About the NSF Energy Storage Engine in Upstate New York
The NSF Energy Storage Engine in Upstate New York, led by Binghamton University, is a National Science Foundation-funded, place-based innovation program. The coalition of 40+ academic, industry, nonprofit, state, and community organizations includes Cornell University, Rochester Institute of Technology, Syracuse University, Griffiss Institute, Launch-NY and NY-BEST as core partners. The Engine advances next-gen battery technology development and manufacturing to drive economic growth and bolster national security. Its vision is to transform upstate New York into America’s Battery Capital.
ROCHESTER, N.Y., June 18, 2025 (GLOBE NEWSWIRE) — American Power Company (APC), a pioneer in AI-driven battery manufacturing optimization, has been awarded a $100,000 SuperBoost grant from the National Science Foundation Energy Storage Engine in Upstate New York. The funding will accelerate the development of APC’s AI-powered cell formation optimization model, designed to improve lithium-ion battery performance, reduce production time and lower manufacturing costs.
The formation cycling process — the precise charge-discharge sequence that activates a newly assembled battery — plays a crucial role in determining a battery’s efficiency, longevity and energy density. However, current methods remain slow and costly. APC’s project will integrate artificial intelligence and active learning techniques to refine this process, offering a pathway to faster, more cost-effective and higher-performing battery production.
The ability to optimize battery formation cycling has broad implications for the energy storage sector. By reducing the formation cycle time from multiple days to just hours, APC’s AI-driven solution could significantly cut production costs and enable faster scaling of lithium-ion gigafactories worldwide. With an initial focus on lithium iron phosphate (LFP) pouch cells, the project will use the RIT Battery Development Center to conduct experimental validation and process refinement.
“Battery cell formation is a well-known bottleneck in lithium-ion cell production,” said Lincoln Miara, CTO of American Power Company. “Our AI-driven approach has the potential to drastically reduce cycle times while enhancing battery quality. With the support of the NSF Energy Storage Engine in Upstate New York, we’re developing a scalable solution that will optimize global battery production.”
The SuperBoost program, a core initiative of the Energy Storage Engine, is designed to fast-track the commercialization of transformative battery technologies. By reducing the time-to-market from over five years to under two years, the program connects startups with funding, infrastructure and industry partnerships to support rapid technology deployment.
SuperBoost funding has already accelerated numerous groundbreaking projects, and AI-driven manufacturing is a particularly critical area of focus as the industry looks to scale battery production efficiently.
Fernando Gómez-Baquero, translation pillar director for the NSF Energy Storage Engine in Upstate New York, emphasized that APC’s innovation aligns directly with the Engine’s mission to enhance U.S. battery manufacturing capabilities. “The SuperBoost program is about advancing technologies that make energy storage manufacturing more efficient, scalable and cost-effective. American Power Company’s AI-powered approach to formation cycling will help streamline production while improving battery performance, a critical step in strengthening U.S. battery supply chains.”
Bridging the gap between laboratory research and commercial-scale production is a defining goal of the Engine’s strategy. Meera Sampath, CEO of the NSF Energy Storage Engine in Upstate New York, noted the broader industry impact of AI-driven innovation in battery production. “This is exactly the type of technology needed to advance the next generation of lithium-ion battery production,” she said. “By supporting innovations in AI-driven manufacturing, we are helping companies like APC optimize production workflows and accelerate the adoption of cutting-edge battery solutions.”
With this funding, American Power Company is set to refine its AI-driven formation model, pilot real-world applications, and bring a next-generation battery manufacturing optimization tool to market. The project aligns with the Engine’s broader mission to position upstate New York as a global leader in battery technology, manufacturing, and commercialization.
AboutAmericanPowerCompany
American Power Company is revolutionizing lithium-ion battery manufacturing with AI- powered optimization models that enhance energy efficiency, reduce production costs, and improve battery performance. By leveraging machine learning and experimental validation, APC develops advanced manufacturing solutions that drive innovation in the EV, energy storage and consumer electronics sectors. Learn more at www.americanpower.ai.
About the NSF Energy Storage Engine in Upstate New York
The NSF Energy Storage Engine in Upstate New York, led by Binghamton University, is a National Science Foundation-funded, place-based innovation program. The coalition of 40+ academic, industry, nonprofit, state, and community organizations includes Cornell University, Rochester Institute of Technology, Syracuse University, Griffiss Institute, Launch-NY and NY-BEST as core partners. The Engine advances next-gen battery technology development and manufacturing to drive economic growth and bolster national security. Its vision is to transform upstate New York into America’s Battery Capital.
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TORONTO, June 18, 2025 (GLOBE NEWSWIRE) — Xtract One Technologies Inc. (TSX: XTRA) (OTCQX: XTRAF) (FRA: 0PL) (“Xtract One” or the “Company”) announces that it has closed its previously announced “bought deal” public offering (the “Offering”) conducted by Ventum Capital Markets (the “Underwriter”).
Pursuant to the Offering, the Company issued an aggregate of 20,700,000 units (the “Units”) at a price of $0.39 per Unit for aggregate gross proceeds of $8,073,000, which includes the full exercise of the over-allotment option granted to the Underwriter. Each Unit consists of one common share of the Company (each, a “Common Share”) and one common share purchase warrant (each, a “Warrant”). Each Warrant is exercisable into one Common Share until June 18, 2028 at an exercise price of $0.49, subject to adjustment in certain events.
In connection with the Offering, the Underwriter received a cash fee of $565,110 and 1,449,000 common share purchase warrants (each, an “Underwriter’s Warrant”). Each Underwriter’s Warrant is exercisable into one Common Share at an exercise price of $0.39 until June 18, 2028.
Xtract One intends to use the proceeds of the Offering for working capital and general corporate purposes.
No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “1933 Act”) and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements of the 1933 Act, and applicable state securities laws.
About Xtract One
Xtract One Technologies is a leading technology-driven provider of threat detection and security solutions leveraging AI to deliver seamless and secure experiences. The Company makes unobtrusive weapons and threat detection systems that are designed to assist facility operators in prioritizing- and delivering improved “Walk-right-In” experiences while enhancing safety. Xtract One’s innovative portfolio of AI-powered Gateway solutions excels at allowing facilities to discreetly screen and identify weapons and other threats at points of entry and exit without disrupting the flow of traffic. With solutions built to serve the unique market needs for schools, hospitals, arenas, stadiums, manufacturing, distribution, and other customers, Xtract One is recognized as a market leader delivering the highest security in combination with the best individual experience. For more information, visit www.xtractone.com or connect on Facebook, X, and LinkedIn.
About Threat Detection Systems
Xtract One solutions, when properly configured, deployed, and utilized, are designed to help enhance safety and reduce threats. Given the wide range of potential threats in today’s world, no threat detection system is 100% effective. Xtract One solutions should be utilized as one element in a multilayered approach to physical security.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including, without limitation, statements regarding the intended use of proceeds from the Offering, future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements”. Forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. Such risks and uncertainties include, among others, the Company’s limited operating history and lack of historical profits; risks related to the Company’s business and financial position; fluctuations in the market price of the Company’s Common Shares; that the Company may not be able to accurately predict its rate of growth and profitability; the failure of the Company to use any of the proceeds received from the Offering in a manner consistent with current expectations; reliance on management; the Company’s requirements for additional financing, and the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and the need to secure and maintain corporate alliances and partnerships, including with research and development institutions, clients and suppliers. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no intention to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason, except as required by law.
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Xtract One Inquiries: info@xtractone.com, www.xtractone.com Media Contact: Kristen Aikey, JMG Public Relations, kristen@jmgpr.com, 347-394-8807 Investor Relations: Chris Witty, Darrow Associates, cwitty@darrowir.com, 646-438-9385
Humanitarian needs are rising around the world. At the same time, major donors such as the US and the UK are pulling back support, placing increasing strain on already overstretched aid systems.
Global humanitarian needs have quadrupled since 2015, driven by new conflicts in Sudan, Ukraine and Gaza. Added to these are protracted crises in Yemen, Somalia, South Sudan, and DR Congo, among others. Yet donor funding has failed to keep pace, covering less than half of the requested US$50 billion in 2024, leaving millions without assistance.
As funding shortfalls widen, humanitarian agencies increasingly face tough choices: reducing the scale of operations, pausing essential services, or cancelling programmes altogether. Disruptions to aid delivery have become a routine feature of humanitarian operations.
Yet few rigorous studies have provided hard evidence of the consequences for affected populations.
A recent study from one of the world’s largest refugee camps in Kenya fills this gap.
Our research team from the University of Oxford and the University of Antwerp was already studying Kakuma camp and then had an opportunity to see what happened when aid was cut. We observed the impact of a 20% aid cut that occurred in 2023.
The study reveals that cuts to humanitarian assistance had dramatic impacts on hunger and psychological distress, with cascading effects on local credit systems and prices of goods.
Kakuma refugee camp
Kakuma is home to more than 300,000 refugees, who mostly came from South Sudan (49%), Somalia (16%), and the Democratic Republic of Congo (DRC) (10%). They have been housed here since 1992. With widespread poverty, lack of income opportunities, and aid making up over 90% of household income, survival in the camp hinges on humanitarian support from UN organisations.
When the research began in late 2022, most refugees in Kakuma received a combination of in-kind and cash transfers from the World Food Programme. Transfers were worth US$17 per person per month, barely enough to cover the bare essentials: food, firewood and medicine.
Over the span of a year, the research team tracked 622 South Sudanese refugee households, interviewing them monthly to monitor how their living conditions evolved in response to the timing and level of aid they received. We also gathered weekly price data on 70 essential goods and conducted more than 250 in-depth interviews with refugees, shopkeepers, and humanitarian staff to understand the broader impacts.
Then came the cut. In July 2023, assistance was reduced by 20%, just as the research team was conducting its eighth round of data collection. This sudden reduction in humanitarian aid created a rare opportunity to assess the effects of an aid cut on both recipients and the markets they depend on.
Consequences of aid cut
The 20% cut in humanitarian aid had cascading effects, affecting not just hunger, but local credit systems, prices, and well-being.
1. Hunger got worse. As a Somali refugee interviewed by the researchers put it: “After the aid reduction, the lives of refugees become hard. That was the money sustaining them. […] Things are insufficient, and hunger is visible.”
Food insecurity was already widespread before the cut, with more than 90% of refugees classified as food insecure. Average caloric intake stood below 1,900 kcal per person per day – well under the World Food Programme’s 2,100 kcal target and about half the average daily calorie supply available to a US citizen.
Food insecurity further increased following the aid cut, with caloric intake falling by 145 kcal, a 7% decrease. The share of households eating one meal or less increased by 8 percentage points, from about 29% to 37%. At the same time, dietary diversity narrowed, indicating that households tried to mitigate the negative impacts of the aid cut by reducing the variety of foods they consumed.
2. Credit collapsed. As a refugee shopkeeper of Ethiopian origin reported: “When we give out credit we have a limit; since the aid is reduced, the credit is also reduced.”
Cash assistance in Kakuma is delivered through aid cards, which refugees routinely use as collateral to access food on credit. When transfers are delayed or unexpected expenses arise, refugees hand over their aid cards as a guarantee to trusted shopkeepers, allowing them to borrow food against next month’s aid.
But when assistance was cut, the value of this informal collateral plummeted. Retailers, fearing default, reduced lending or refused lending altogether. Informal credit from shopkeepers shrank by 9%. Many refugees reported being refused food on credit or having to repay past debt before receiving any new goods.
3. Households liquidated assets. With no access to credit, households began selling off possessions and drawing down food reserves. The average value of household assets fell by over 6% after the aid cut.
4. Psychological distress increased. The aid cut reduced self-reported sleep quality and happiness, indicating that reductions in aid go beyond physical impacts and also have psychological effects.
5. Prices fell. With reduced expenditure and purchasing power, the demand for food dropped, and food prices went down, partially offsetting the negative effects of the aid cut.
First, aid in contexts like Kakuma should not be treated as optional or discretionary, but as a structural necessity. It is the backbone of daily life. Mechanisms are needed to protect it from abrupt donor withdrawals.
Second, informal credit is not peripheral, it is central to economic life in refugee settings. In many camps, shopkeepers act as retailers and de facto financial institutions. When aid transfers serve as both income and collateral, cutting them risks collapsing this fragile credit system. Cash transfer programmes must therefore be designed with these dynamics in mind.
Olivier Sterck receives research funding from the IKEA Foundation, the World Bank, and The Research Foundation – Flanders (FWO).
Vittorio Bruni is affiliated with Oxford University
The Nigerian economy grew at a robust rate of 3.4% in 2024, the highest it has been since 2019 (except 2021 when the COVID rebound occurred).
This should have been cheering news, worthy of firecrackers and champagne-popping. Rather it came with a catch: the country’s poverty profile worsened.
In its annual review of the country, the World Bank applauded Nigeria for its economic reforms. These include the removal of fuel subsidies, liberalisation of the foreign exchange market and maintenance of a contractionary monetary policy. This is a policy of raising interest rates, reducing money supply and increasing borrowing costs to rein in inflation.
But the bank also drew attention to the fact that the country’s poverty profile has become grim. About 31% of Nigerians lived in poverty prior to the COVID-19 epidemic. Since then, an additional 42 million have become poor, increasing the poverty rate to about 46% in 2024.
Poverty is even worse in Nigeria’s rural communities: 75.5% live on US$2.15 or less per day (based on 2017 prices). The average poverty rate for sub-Saharan African countries was 36.5% in 2024 and 0.8% for East Asia and the Pacific.
Nigeria’s poverty rate would have been higher if the multidimensional poverty index had been used. In addition to income, the index considers access to education, health, decent housing, nutrition, sanitation, electricity and water. Access to these critical services has worsened for many Nigerians, despite improvements in macroeconomic stability.
A challenge for policy makers is how to translate impressive macroeconomic outcomes into high-paying jobs, lower poverty rates and access to health, good sanitation, education, electricity and affordable housing. The question is even more acute for people in rural areas.
As an economist who has studied the Nigerian economy for over four decades and lived in a rural community, I believe Nigeria needs a radical shift in its economic policy approach.
One major step should be a change in the country’s growth drivers. Oil, information and communications technology and finance are the major drivers of growth in Nigeria.
These sectors are not employment-intensive, and they require skills that most Nigerians don’t have. Because of the lack of employment opportunities in these sectors, most Nigerians gravitate towards the informal sector, which accounts for about 90% of employment in the country.
By continuing to urge Nigerians to be patient for economic reforms to have a positive impact on their living conditions, the Tinubu administration appears to assume that improvements in macroeconomic performance will eventually manifest in lower unemployment and poverty rates. This notion of “trickle-down economics” is misconceived and illusory.
The government needs to intentionally create transmission mechanisms through which economic growth and macroeconomic stability can raise living standards.
Fostering growth with development
Concerted efforts will be needed to target poverty in general, and rural poverty in particular.
Five key policies could get Nigeria closer to this goal:
Building productive capacities: People who live in rural areas in Nigeria are eager to work and full of creative ideas and entrepreneurial spirit. But they lack the resources and opportunity to fully unleash their potential.
Building their productive capacities would entail giving them access to basic education, technical and managerial skills, and other productive resources such as tools, equipment, finance and land. The government should identify the comparative advantage of different rural communities, and put in place policies that encourage those communities to use their comparative advantage and distinctive competencies.
Opportunity to diversify incomes: In developed countries, many people hold multiple jobs. Most rural dwellers in Nigeria, however, rely on agriculture as their only source of livelihood.
Because of limited access to inputs and modern technology, and outdated agricultural practices, their productivity is often very low. Their low income makes it difficult to save and invest in education, health and housing.
Non-agricultural activities, especially manufacturing, need to be located in rural communities, to give rural dwellers the opportunity to diversify their income sources.
Agriculture-led industrial strategy: This would involve the location of manufacturing plants close to the sources of agricultural raw materials.
Nigerian manufacturers locate their factories in urban areas. The result of urban-biased development strategy in Nigeria has been the lack of employment opportunities in rural communities, and a decline in the rural population, from about 85% in 1960 to 46% in 2023.
Moving manufacturing to rural areas would require massive investment in infrastructure such as electricity, water, roads and health services.
Ending patriarchy and male domination: Women disproportionately bear the burden of rural poverty in Nigeria. A study in rural south-east Nigeria found that the poverty rate among women was 98%, compared to 85% for men. Men are often given preference regarding access to land, education, skills acquisition and financial inclusion.
Women are also imbued with the responsibility of caring for children, the elderly and the sick, as well as household chores. This leaves them with little time for paid work or opportunities to acquire marketable skills.
Ability to absorb shocks and vulnerability: Rural poverty is often exacerbated by shocks and vulnerability such as extreme weather conditions, attacks by insurgents and other criminal groups, and illness. With no safety nets, and little or no saving, most rural dwellers are unable to withstand shocks.
The Tinubu administration plans to disburse N25,000 (about US$17) each to 60 million Nigerians. But these kinds of support are too small, non-pervasive, irregular and unpredictable.
Nigeria could do well to borrow from the Indian model of an institutionalised safety net.
India issues “ration cards” to eligible households. The cards enable poor people to purchase essential food items such as grains, milk, eggs, cooking oil and bread at subsidised prices from designated stores.
Nigeria could finance this kind of programme with a special tax on oil companies and financial institutions, which frequently post huge after-tax profits.
China has had an impressive record of poverty reduction. Using the US$1.90 poverty line, China’s poverty rate decreased from 88.1% in 1981 to 0.3% in 2018.
The fall in rural poverty is even more dramatic, from 96% in 1980 to 1% in 2019.
This reduction was accomplished in stages, starting with an increase in agricultural productivity. It then shifted focus to the development of non-agricultural sectors of the economy, including manufacturing. These sectors were able to draw surplus labour from the agricultural sector, giving them skills that led to higher wages and poverty alleviation.
The World Bank in its report noted that addressing pressing social and humanitarian challenges remains critical to ensuring inclusive and sustainable growth in Nigeria.
Cash transfers and social assistance programmes could provide temporary relief for the poor in rural communities. But a long-term solution is to build their productive capacities and transform rural communities in ways that provide opportunities for income diversification.
Stephen Onyeiwu does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Source: Republic of South Africa (video statements)
President Cyril Ramaphosa engages with members of the media during a doorstop interaction, following his participation at the G7 Outreach Leaders Summit in Kananaskis, Canada.
Source: Republic of South Africa (video statements)
President Cyril Ramaphosa arrives at the Pomeroy Kananaskis Mountain Lodge for the G7 Leaders Outreach Summit.
The President is welcomed by Prime Minister Mark Carney.
Source: Republic of South Africa (video statements)
President Cyril Ramaphosa arrives at the Pomeroy Kananaskis Mountain Lodge for the G7 Leaders Outreach Summit.
The President is welcomed by Prime Minister Mark Carney.
Source: The Conversation – Africa – By Stephen Onyeiwu, Professor of Economics & Business, Allegheny College
The Nigerian economy grew at a robust rate of 3.4% in 2024, the highest it has been since 2019 (except 2021 when the COVID rebound occurred).
This should have been cheering news, worthy of firecrackers and champagne-popping. Rather it came with a catch: the country’s poverty profile worsened.
In its annual review of the country, the World Bank applauded Nigeria for its economic reforms. These include the removal of fuel subsidies, liberalisation of the foreign exchange market and maintenance of a contractionary monetary policy. This is a policy of raising interest rates, reducing money supply and increasing borrowing costs to rein in inflation.
But the bank also drew attention to the fact that the country’s poverty profile has become grim. About 31% of Nigerians lived in poverty prior to the COVID-19 epidemic. Since then, an additional 42 million have become poor, increasing the poverty rate to about 46% in 2024.
Poverty is even worse in Nigeria’s rural communities: 75.5% live on US$2.15 or less per day (based on 2017 prices). The average poverty rate for sub-Saharan African countries was 36.5% in 2024 and 0.8% for East Asia and the Pacific.
Nigeria’s poverty rate would have been higher if the multidimensional poverty index had been used. In addition to income, the index considers access to education, health, decent housing, nutrition, sanitation, electricity and water. Access to these critical services has worsened for many Nigerians, despite improvements in macroeconomic stability.
A challenge for policy makers is how to translate impressive macroeconomic outcomes into high-paying jobs, lower poverty rates and access to health, good sanitation, education, electricity and affordable housing. The question is even more acute for people in rural areas.
As an economist who has studied the Nigerian economy for over four decades and lived in a rural community, I believe Nigeria needs a radical shift in its economic policy approach.
One major step should be a change in the country’s growth drivers. Oil, information and communications technology and finance are the major drivers of growth in Nigeria.
These sectors are not employment-intensive, and they require skills that most Nigerians don’t have. Because of the lack of employment opportunities in these sectors, most Nigerians gravitate towards the informal sector, which accounts for about 90% of employment in the country.
By continuing to urge Nigerians to be patient for economic reforms to have a positive impact on their living conditions, the Tinubu administration appears to assume that improvements in macroeconomic performance will eventually manifest in lower unemployment and poverty rates. This notion of “trickle-down economics” is misconceived and illusory.
The government needs to intentionally create transmission mechanisms through which economic growth and macroeconomic stability can raise living standards.
Fostering growth with development
Concerted efforts will be needed to target poverty in general, and rural poverty in particular.
Five key policies could get Nigeria closer to this goal:
Building productive capacities: People who live in rural areas in Nigeria are eager to work and full of creative ideas and entrepreneurial spirit. But they lack the resources and opportunity to fully unleash their potential.
Building their productive capacities would entail giving them access to basic education, technical and managerial skills, and other productive resources such as tools, equipment, finance and land. The government should identify the comparative advantage of different rural communities, and put in place policies that encourage those communities to use their comparative advantage and distinctive competencies.
Opportunity to diversify incomes: In developed countries, many people hold multiple jobs. Most rural dwellers in Nigeria, however, rely on agriculture as their only source of livelihood.
Because of limited access to inputs and modern technology, and outdated agricultural practices, their productivity is often very low. Their low income makes it difficult to save and invest in education, health and housing.
Non-agricultural activities, especially manufacturing, need to be located in rural communities, to give rural dwellers the opportunity to diversify their income sources.
Agriculture-led industrial strategy: This would involve the location of manufacturing plants close to the sources of agricultural raw materials.
Nigerian manufacturers locate their factories in urban areas. The result of urban-biased development strategy in Nigeria has been the lack of employment opportunities in rural communities, and a decline in the rural population, from about 85% in 1960 to 46% in 2023.
Moving manufacturing to rural areas would require massive investment in infrastructure such as electricity, water, roads and health services.
Ending patriarchy and male domination: Women disproportionately bear the burden of rural poverty in Nigeria. A study in rural south-east Nigeria found that the poverty rate among women was 98%, compared to 85% for men. Men are often given preference regarding access to land, education, skills acquisition and financial inclusion.
Women are also imbued with the responsibility of caring for children, the elderly and the sick, as well as household chores. This leaves them with little time for paid work or opportunities to acquire marketable skills.
Ability to absorb shocks and vulnerability: Rural poverty is often exacerbated by shocks and vulnerability such as extreme weather conditions, attacks by insurgents and other criminal groups, and illness. With no safety nets, and little or no saving, most rural dwellers are unable to withstand shocks.
The Tinubu administration plans to disburse N25,000 (about US$17) each to 60 million Nigerians. But these kinds of support are too small, non-pervasive, irregular and unpredictable.
Nigeria could do well to borrow from the Indian model of an institutionalised safety net.
India issues “ration cards” to eligible households. The cards enable poor people to purchase essential food items such as grains, milk, eggs, cooking oil and bread at subsidised prices from designated stores.
Nigeria could finance this kind of programme with a special tax on oil companies and financial institutions, which frequently post huge after-tax profits.
China has had an impressive record of poverty reduction. Using the US$1.90 poverty line, China’s poverty rate decreased from 88.1% in 1981 to 0.3% in 2018.
The fall in rural poverty is even more dramatic, from 96% in 1980 to 1% in 2019.
This reduction was accomplished in stages, starting with an increase in agricultural productivity. It then shifted focus to the development of non-agricultural sectors of the economy, including manufacturing. These sectors were able to draw surplus labour from the agricultural sector, giving them skills that led to higher wages and poverty alleviation.
The World Bank in its report noted that addressing pressing social and humanitarian challenges remains critical to ensuring inclusive and sustainable growth in Nigeria.
Cash transfers and social assistance programmes could provide temporary relief for the poor in rural communities. But a long-term solution is to build their productive capacities and transform rural communities in ways that provide opportunities for income diversification.
– Nigeria’s economy is growing but rural poverty is rising: 5 key policies to address the divide – https://theconversation.com/nigerias-economy-is-growing-but-rural-poverty-is-rising-5-key-policies-to-address-the-divide-257152