Category: Machine Learning

  • MIL-OSI: BYDFi Lists KERNEL/USDT Trading Pair — Trade to Win a Share of the $5,000 Prize Pool

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, April 15, 2025 (GLOBE NEWSWIRE) — Global crypto exchange BYDFi has officially listed $KERNEL, the governance token of KernelDAO, with spot trading now live for the KERNEL/USDT pair. To mark the launch, BYDFi is offering a $5,000 prize pool—all users who trade KERNEL are eligible to win a share.

    Backed by Binance Labs, $KERNEL Leads the Restaking Movement

    $KERNEL powers KernelDAO, one of the fastest-growing restaking ecosystems in the DeFi space. Built across major networks including BNB Chain, Ethereum, and Bitcoin, KernelDAO has quickly become a key player in modular security and restaking infrastructure.

    • KernelDAO’s three core products—Kelp rsETH, Kernel, and Kelp Gain—now boast a total TVL exceeding $2 billion
    • Over $600 million in TVL secured on BNB Chain alone, making it the chain’s largest security layer
    • Integrated with 25+ decentralized validation networks (DVNs)
    • Backed by a $40 million ecosystem fund, supporting 45+ projects with embedded restaking use cases

    In 2024, KernelDAO raised $10 million in funding led by Binance Labs, Laser Digital, SCB Limited, and Hypersphere Ventures—further validating its long-term potential.

    Market Momentum

    $KERNEL is currently trading at $0.271, with 24-hour trading volume reaching $330 million—a 120% surge since launch day, signaling strong market interest and traction.

    Triple Rewards, Only on BYDFi

    Starting today, users who trade the KERNEL/USDT pair on BYDFi have the chance to:

    For more details, visit the BYDFi official website or download the BYDFi app.

    About BYDFi

    Founded in 2020, BYDFi has been recognized by Forbes as one of the world’s top 10 cryptocurrency exchanges, and is listed by both CoinMarketCap and CoinGecko. The platform now serves over 1,000,000 users across more than 190 countries and regions worldwide.

    The platform offers 24/7 multilingual customer support to ensure users receive expert assistance anytime. BYDFi is committed to delivering a world-class crypto trading experience for every user. BUIDL Your Dream Finance.

    Twitter( X )| LinkedIn| Facebook | Telegram| YouTube

    The MIL Network

  • MIL-OSI New Zealand: New Zealand-Australia investigation into Latitude breach begins

    Source: Privacy Commissioner

    The New Zealand Office of the Privacy Commissioner (OPC) and the Office of the Australian Information Commissioner (OAIC) have commenced a joint privacy investigation into the 12 March Latitude Financial data breach.

    This decision follows preliminary inquiries into the matter by both offices.

    This is the first joint privacy investigation by Australia and New Zealand and reflects the impact of the data breach on individuals in both nations.

    The breach, New Zealand’s largest, has seen millions of New Zealanders’ and Australians’ records exposed, including drivers’ licenses, passports and sensitive financial data including personal income and expense information.

    The joint investigation will allow the use of both agencies’ resources. The structure of the investigation does not preclude the OAIC and OPC reaching separate regulatory outcomes or decisions regarding the most appropriate regulatory response to a breach.

    The OAIC and OPC’s investigation will focus on whether Latitude took reasonable steps to protect the personal information they held from misuse, interference, loss, unauthorised access, modification or disclosure.

    The investigation will also consider whether Latitude took appropriate steps to destroy or de-identify personal information that was no longer required.

    Deputy Privacy Commissioner Liz MacPherson says the investigation will focus on

    • how the hackers gained entry to Latitude Financial’s systems
    • how long they were inside before they were noticed
    • what Latitude’s staff did when they discovered the attack
    • the retention of information held by Latitude, and
    • the security and storage of that information within its IT systems.

    “This is a significant attack with an appalling result. I want to thank the affected customers who have been in contact with us so far. Thank you for your patience and for sharing your experiences with us, says Liz MacPherson.

    “There is a human cost to a breach. We have former customers of Latitude who took a loan to buy a fridge about 15 years ago and now part of their identity is being held for ransom.  We will be asking the same questions these customers are.  Could Latitude have done anything to prevent the hackers getting in and stealing information? What reasons does Latitude have for holding onto the personal information of past customers for such long periods?”

    “I also expect this breach has caused emotional stress for staff and the Board at Latitude Financial and I thank them for their constructive engagement with us to date,” says Liz.

    A compliance investigation enables the Office of the Privacy Commissioner to use its full information gathering powers including obliging people to provide information and summoning witnesses.

    “This information will help us to establish whether Latitude’s actions or inaction enabled the cyber-criminals and contributed to the scope and impact of the breach.  Establishing these facts will be critical to our ability to make decisions about the individual complaints that are made to us by impacted Latitude customers,” says Liz.

    “We are still encouraging affected customers to contact Latitude Financial and ID Care for support first. They have made commitments to assist impacted customers.  If you complain to Latitude and you haven’t heard back from them within 30 working days, then we encourage affected customers to make a complaint to us.

    Liz says, “we won’t start assessing individual complaints until we have completed our compliance investigation, but we want to get a sense of the number of people affected and the issues people are facing.

    “We are expecting this investigation to be wide-ranging and we need to be able to assign investigators accordingly and plan how to meet the needs of affected customers. We also want to know the types of impact and harm people have suffered because of this breach (e.g. examples of harm like identity theft, credit difficulties, undue stress etc).

    “We have set up an email for affected customers to contact our team easily. Can you please contact us at latitude.breach@privacy.org.nz ”

    The Office of the Privacy Commissioner has been working with the Office of the Australian Information Commissioner (OAIC) throughout the early stages and will continue to do so during the compliance investigation.

    “As this investigation is now active no further comments will be made on it until it is concluded. When the OPC finishes its investigation, we will give an update, so please keep in contact with us.”

    Anyone coming across the Latitude Financial data should take care.

    “Do not access it. Do not spread it. Do not share it. Report it to the New Zealand Police. Report it to us or you can report it to CERT. No one should contribute to its dissemination and increase the anxiety and distress of the affected individuals.”

    Individuals should be on the lookout for anything out of the ordinary.

    “Be hyper vigilant. Watch out for suspicious texts, emails or unusual things happening with your accounts or records. Be particularly cautious of contact from an unknown source.”

    If people would like to know more about some steps, they could take to protect themselves from privacy breaches they could follow this link: https://privacy.org.nz/resources-2/protecting-yourself-from-a-privacy-breach/

    Timeline:

    • Latitude Financial informs the OPC it was breached on March 16.
    • The Office of the Privacy Commissioner starts its preliminary enquiries into the breach including working with the OAIC.
    • The NZ Office of the Privacy Commissioner and the Australian Office of the Information Commissioner commence a joint compliance investigation into Latitude on 9 May.

    Facts:

    • Latitude Financial Services Limited NZ provides a wide range of financial and (limited) insurance services to customers across New Zealand via Gem Finance and Gem Visa and several subsidiary groups.
    • Latitude Financial Services Limited NZ is a subsidiary of Latitude Holdings based in Australia. As such we will continue to work closely with the OAIC as our investigation progresses.
    • Latitude Financial have estimated that 14 million NZ and Australian customer records have been exposed because of the 12 March attack of which around 1.08 million are NZ customer records.
    • The 1.08 million NZ customer records includes around 1.037 million driver license records, around 40,000 passport records and sensitive income and expense information. The income and expenditure information was submitted as part of a personal loan application process.
    • The Privacy Act 2020 places responsibility on Latitude for keeping personal information data secure.
    • The OPC regulatory role is to understand whether reasonable steps to keep personal data secure have been followed, including appropriate data retention practices and to monitor the Latitude response to the cyber-attack breach.

    The difference between preliminary inquiries, a compliance investigation and a complaint investigation

    • Preliminary inquiries allow us to ask questions and assess the situation. Agencies provide information voluntarily.
    • A compliance investigation is undertaken under Part 6 of the Privacy Act 2020. It is designed to allow the Privacy Commissioner to hear or obtain information from any person he considers may have relevant information to enable him to decide whether to issue a compliance notice to an agency for breaching the Privacy Act.  A compliance notice requires an organisation to do something or to stop doing something, in order to comply with the Privacy Act. A compliance investigation can be used to inform the investigation of individual complaints where there are multiple complaints of the same nature.
    • A complaint investigation is undertaken under Part 5 of the Privacy Act 2020. These investigations are focussed on the harm caused to the individual by a privacy breach and seek to resolve the complaint including through compensation or redress. 

     For media please call: 021 959 050

    MIL OSI New Zealand News

  • MIL-OSI USA News: Fact Sheet: President Donald J. Trump Restores Common Sense to Federal Procurement

    Source: The White House

    MODERNIZING THE PROCUREMENT SYSTEM: Today, President Donald J. Trump signed an Executive Order restoring common sense to Federal procurement by dramatically simplifying the process.

    • The Order directs his administration to simplify and streamline the Federal Acquisition Regulation (FAR), which governs Federal procurement, to ensure it contains only provisions required by statute or essential to efficient, secure, and cost-effective procurement.
    • Agencies exercising procurement authority must ensure agency-specific regulations align with the streamlined FAR.
    • The Order mandates the issuance of interim guidance, as needed, to support reform until the final rules reforming the FAR are published.
    • A regulatory sunset provision will be considered that would result in non-statutory FAR provisions expiring after four years unless renewed.

    ELIMINATING BARRIERS TO DOING BUSINESS WITH THE FEDERAL GOVERNMENT: President Trump wants to create the most agile, effective, and efficient procurement system possible.

    • The Federal Government is the largest buyer of goods and services in the world, spending nearly $1 trillion annually, yet conducting business with the Federal Government is often prohibitively inefficient and costly given the regulatory complexity.
    • Since its inception over 40 years ago, the FAR has ballooned to more than 2,000 pages of regulations, creating an onerous bureaucracy that undermines timely delivery of high-value products and services.
    • Studies have consistently found that the FAR is a barrier to, rather than a prudent vehicle for, doing business with the Federal Government.
    • By reforming the FAR, President Trump is reducing bureaucratic hurdles, empowering all businesses to compete for government contracts, and ensuring taxpayer dollars deliver maximum value.

    RECLAIMING EFFICIENCY FOR THE AMERICAN TAXPAYER: President Trump is working to simplify the Federal Government and free the American people from excessive regulations and bureaucracy.

    • President Trump launched a 10-to-1 deregulation initiative, ensuring every new Federal rule is justified by clear benefits and accompanied by much larger deregulatory measures.
    • At every step, President Trump is promoting the use of commercial options, letting the market drive innovation and deliver high-quality, cost-effective solutions to meet government needs.
    • President Trump established the “Department of Government Efficiency” to examine how to streamline the operations of the Federal Government, eliminate unnecessary programs and wasteful spending, and reduce bureaucratic inefficiency.
    • President Trump has already reduced unnecessarily large governmental entities and terminated numerous harmful Biden expansions of governmental authority.

    MIL OSI USA News

  • MIL-OSI USA News: Fact Sheet: President Trump Brings Permitting Technology Into the 21st Century for Government Efficiency

    Source: The White House

    MODERNIZING PERMITTING TECHNOLOGY: Today, President Donald J. Trump issued a memorandum to ensure the Federal government is leveraging modern technology to effectively and efficiently conduct environmental reviews and evaluate permits.

    • The Presidential Memorandum directs Federal agencies to make maximum use of technology in the environmental review and permitting processes for infrastructure projects of all kinds.
    • The Council on Environmental Quality (CEQ), in consultation with the National Energy Dominance Council (NEDC) and relevant permitting agencies, will issue a Permitting Technology Action Plan to guide agencies as they use technology to digitize permit applications, expedite reviews, enhance interagency coordination on projects, and give sponsors more transparency and predictability on project permitting schedules.
    • CEQ will also establish and lead a Permitting Innovation Center to assist Federal agencies as they adopt new software and automate application and review processes, including to coordinate agencies in this effort.
    • This will also help agencies share information with state and tribal officials to make those permitting processes easier for project sponsors.

    ELIMINATING UNCERTAINTY: President Trump recognizes the environmental review and permitting process has been burdened by a lack of transparency and outdated technology.

    • The current environmental review and permitting process in the United States is inefficient, unpredictable, and counterproductive to the growth of the American economy and other infrastructure projects that benefit the American people.
    • Projects often involve multiple Federal agencies with overlapping statutory requirements, and expanding the use of modern technology in the environmental review and permitting process will improve coordination and reduce duplicative efforts by both Federal agencies and project applicants.
    • The actual time to complete many infrastructure projects, when measured from project inception to in-service date, can be a decade or more.

    RESTORING AMERICAN PROSPERITY:  Environmental review and permitting reform is a top priority for the Trump Administration and this action will accelerate the process, improve the transparency and predictability of project timelines, and eliminate unnecessary delays holding back the growth of the American economy. 

    • As part of his America First agenda, President Trump promised to Make America Affordable and Energy Dominant Again by streamlining environmental reviews and permitting decisions.
    • This memorandum builds on President Trump’s Day One Executive Order Unleashing American Energy, which includes provisions to expedite and simplify the environmental review and permitting process, and return our Nation to energy dominance.
      • In response to the President’s Executive Order, the CEQ published an interim final rule to rescind its National Environmental Policy Act (NEPA) regulations. Rescinding this regulation removes a burdensome layer of bureaucracy, creating a clear path for agencies to expeditiously reform their own NEPA procedures and allow America to build again.
      • This action to return CEQ to a consulting body, combined with the implementation of modern permitting technology, will enable better interagency coordination, resulting in the greatest and fastest permitting reform ever to take place in the decades-long history of NEPA.

    MIL OSI USA News

  • MIL-OSI USA News: Fact Sheet: President Donald J. Trump Announces Actions to Lower Prescription Drug Prices

    Source: The White House

    LOWERING PRESCRIPTION DRUG PRICES: Today, President Donald J. Trump signed an Executive Order to expand on the historic efforts of his first term to lower prescription drug prices.

    • The Order directs the Department of Health and Human Services to take steps to significantly reduce drug prices for American patients.
    • It delivers lower drug prices for Medicare and the seniors who rely on it by:
      • Improving the Medicare Drug Pricing Negotiation Program in order to eclipse the 22% in savings achieved in the program’s first year.
      • Aligning Medicare payment for certain prescription drugs with the cost by which hospitals actually acquire them, which can be 35% lower than what the government currently pays.
      • Standardizing Medicare payments for prescription drugs, such as cancer treatments, regardless of where the patient receives care, which can lower prices by as much as 60%.
    • It provides massive discounts to low-income patients for life-saving medications.
      • Insulin prices for low-income patients and the uninsured will be lowered to as low as $0.03, plus a small administrative fee.
      • Injectable epinephrine for low-income patients and the uninsured will be as low as $15, plus a small administrative fee.
    • The Order helps states reduce drug prices by:
      • Facilitating importation programs that could save states millions in prescription drug costs.
      • Building off programs to help states get much better deals on expensive sickle-cell medications in Medicaid than the statutorily required 23.1% discount.

    BRINGING RADICAL TRANSPARENCY AND COMPETITION TO PRESCRIPTION DRUG MARKETS: President Trump is dedicated to creating a transparent, competitive, and fair prescription drug market for American consumers.

    • President Trump has already taken numerous actions to end the practice of large corporations profiting by keeping health care prices and business practices hidden from Americans.
    • The Order increases the availability of generics and biosimilars, which can be as much as 80% cheaper than brand alternatives.
    • The Order builds off that critical work and reevaluates the role of middlemen by:
      • Improving disclosure of fees that pharmaceutical benefit managers (PBMs) pay to brokers for steering employers to utilize their services.
      • Directing the administration to develop reforms to promote a more competitive, transparent, efficient, and resilient prescription drug value chain.
    • By addressing the influence of middlemen and promoting open competition, President Trump’s actions aim to create a fairer prescription drug market that lowers costs and ensures accountability across the health care system.

    PUTTING AMERICAN PATIENTS FIRST ONCE AGAIN: President Trump is delivering on his promise to once again put American patients first by building off of the historic efforts of his first term to lower prescription drug prices.

    • In his first term, President Trump took numerous actions that delivered real results for patients:
      • The Food and Drug Administration sped up development of lower-cost generic medicines and biosimilars as well as created a pathway for states to import lower cost drugs from Canada.
      • Government-mandated discounts were passed through to patients instead of being retained by middlemen.
      • Price transparency rules were developed to allow patients, doctors, and employers to see the actual cost of prescription drugs.
      • Insulin copays were capped for Medicare beneficiaries.
    • Unsurprisingly, the Biden-Harris Administration let many of these priorities languish while failing to even achieve the savings projected from the new Medicare Prescription Drug Negotiation Program.
    • President Trump will not stand for inaction, and his Administration is working rapidly to lower the cost of prescription drugs for Americans.

    MIL OSI USA News

  • MIL-OSI: River Valley Community Bancorp Announces 1st Quarter Results (Unaudited)

    Source: GlobeNewswire (MIL-OSI)

    YUBA CITY, Calif., April 15, 2025 (GLOBE NEWSWIRE) — River Valley Community Bancorp (OTC markets: RVCB) with its wholly owned subsidiary, River Valley Community Bank (collectively referred to as the “Bank”), today announced financial results for the quarter ended March 31, 2025. The full earnings release can be found on the Bank’s Investor Relations website at Investor Relations – River Valley Community Bank.

    The Bank remains highly rated with BauerFinancial, and Depositaccounts.com and serves its customer base through its offices located at:

    • 1629 Colusa Avenue, Yuba City, CA
    • 580 Brunswick Rd, Grass Valley, CA
    • 905 Lincoln Way, Auburn, CA
    • 904 B Street, Marysville, CA
    • 401 Ryland Street, Reno, NV (Loan Production Office)
    • 1508 Eureka Rd., Ste. 100, Roseville, CA (Loan Production Office)

    The Bank offers a full suite of competitive products, services, and banking technology. For more information please visit our website at www.myrvcb.com or contact John M. Jelavich at (530) 821-2469.

    The MIL Network

  • MIL-OSI USA: WISH to Ignite: WISHfest25 Sparks Curiosity, Community, and Courage in Waterbury

    Source: US State of Connecticut

    More than 1,200 students, educators, and community members filled downtown Waterbury on March 28 for WISHfest25, the University of Connecticut’s third annual Waterbury Innovation, Sustainability, and Health Festival (WISHfest).

    Co-hosted by UConn Waterbury, the City of Waterbury, and Waterbury Public Schools, the festival embraced this year’s theme: “WISH to Ignite: Passion, Resilience, and Boundless Possibilities.”

    From electrifying keynotes and hands-on science exhibits to deep conversations around neurodiversity, leadership, and identity, WISHfest25 once again demonstrated that innovation isn’t limited to the lab—it thrives in community.

    From Jurassic Science to Real-Life Resilience

    The day began at the historic Palace Theater, where students heard from Jack Horner, the world-renowned paleontologist who advised six “Jurassic Park” and “Jurassic World” films—and who also happens to be severely dyslexic.

    “Being different doesn’t mean being broken,” Horner told a packed theater. “It means you see the world in a different way—and that’s where new ideas come from.”

    A panel discussion at the Palace Theater features, from left to right, Clarke, UConn NSF TRANSCEND fellow & Ph.D. student Vaishnavi Sivaprasad, Horner, and Reis, moderated by Hoeft.” (Steven Bustamante / UConn Photo)

    Horner, a MacArthur “Genius” Fellow who has received multiple honorary doctorates, shared his journey of scientific discovery and defying expectations—even showing the audience a high school report card filled with Ds and Fs. For many students, this was their first time meeting a scientist in person.

    “I still remember his talk from 10 years ago, word for word,” said Dean Fumiko Hoeft, founder and co-director of WISHfest. “It’s the kind of spark we want every student to walk away with.”

    After the event, Horner added, “You found a wonderful group of young students and lots of interesting people. I had a blast!”

    Also featured on stage was Shavana Clarke, Miss Connecticut USA 2024, a proud Jamaican American, LGBTQ+ advocate, and UConn alumna. With honesty and grace, Clarke shared her journey navigating mental health and identity, reminding students that resilience often begins with telling your story.

    Members of the Waterbury Police Department’s Mounted Unit interact with attendees at WISHfest, at the UConn Waterbury campus.” (Steve Bustamante / University of Connecticut)

    “You’re not a burden. You’re not alone. And your difference is your strength,” Clarke told the crowd, as students rose to applaud.

    Sally Reis, UConn Board of Trustees Distinguished Professor and 2025 Reed Fellow, urged educators to adopt a strength-based approach and emphasized how supporting neurodiverse and twice-exceptional learners can unlock untapped potential.

    “We spend too much time fixing what’s ‘wrong,’” Reis said. “WISHfest reminds us to discover and develop the talents of all students.”

    From the Stage to the Lab: Hands-On Learning at UConn Waterbury

    Following the morning program, energy shifted across the street to the UConn Waterbury campus, where students dove into VR simulations, brain dissections, research showcases, and interactive career stations hosted by UConn faculty, staff, and industry professionals.

    “I loved how WISHFest had such fun events at the Palace and UConn like when Jack Horner came and talked about his life,” said Julian Malusa, age 10, from Judson School in Watertown, who attended with his grandmother, reflecting on the excitement and inspiration the event provided for young attendees.

    Two UConn Waterbury students pose with Jonathan XV at WISHfest 2025 (Steve Bustamante / University of Connecticut)

    This portion of the festival was coordinated by the UConn Center for Career Readiness and Life Skills and the Northwest Regional Workforce Investment Board (NRWIB), highlighting pathways in health care, business, government, tech, and education.

    The event also earned praise from school leadership. “The Waterbury Public Schools’ students were once again wowed by WISHfest and encouraged by their visit to UConn Waterbury,” said Interim Superintendent Darren Schwartz. “I am grateful for the ongoing leadership of Dr. Fumiko Hoeft and her collaboration with the Waterbury Public Schools.”

    From 1:30 to 4:00 p.m., UConn Waterbury students participated in closed small-group sessions with keynote speakers, NSF TRANSCEND Ph.D. Fellows, researchers, and community partners—deepening discussions on AI, neurodiversity, innovation, and inclusive leadership.

    Leadership, Laughter, and Legacy: The Pre-Event Dinner

    The evening before WISHfest, over 20 civic and academic leaders gathered for a private dinner hosted by Cathy and Jim Smith at their Middlebury residence. Guests included UConn President Radenka Maric, Senator Joan Hartley, Mayor Paul Pernerewski, Interim Superintendent Schwartz, and leaders in the arts, education, and nonprofit sectors.

    A student uses a VR headset at UConn Waterbury’s WISHFest 2025 (Steve Bustamante / University of Connecticut)

    Cathy Smith, President of the Leavenworth Foundation, has long supported revitalization efforts throughout Waterbury with her husband Jim Smith—from restoring the Green and City Hall to supporting the Palace Theater, and now, WISHfest.

    Closing the Day with Art and Appreciation

    The festival concluded with a VIP reception at the Mattatuck Museum, where speakers, students, and community members came together in an evening of reflection, art, and connection.

    “This is what it means to be One UConn,” said President Radenka Maric, who returned for her second WISHfest. “We don’t just teach science or policy—we create spaces where young people can imagine new futures.”

    Powered by Partnership

    WISHfest25 is a free event, made possible through the generosity of the David and Joan Reed Endowment to UConn Waterbury, with additional support from UConn NSF TRANSCEND Ph.D. Training Program, UConn School of Business Digital Frontiers Initiative, UThe OLLI Program at UConn Waterbury, Mattatuck Museum, Palace Theater, Cathy & Jim Smith, Dunkin’, and Coca-Cola.

    A group photo of WISHfest staff, comprising UConn Waterbury staff and students, in front of the Palace Theater.(Steve Bustamante / University of Connecticut)

    “The collaboration between UConn, local schools, and community partners is what truly makes WISHfest successful,” said Monica Lattimer, co-director of WISHfest and Associate Director of Operations at UConn Waterbury. “It’s amazing to see how this event grows each year and continues to inspire our students to explore new career paths and ideas.”

    What’s Next?

    Planning is already underway for WISHfest26, which will be held on Friday, April 17, 2026, and feature Temple Grandin—renowned scientist, animal behaviorist, and autism advocate—as keynote speaker. The 2026 theme will explore agriculture, nutrition, sustainability, and neurodiversity, co-sponsored by UConn CAHNR and the USDA NextGen Fellows.

    “If this year was about igniting possibility,” said Hoeft, “next year, we’ll cultivate it.”

    To learn more, visit wishfest.waterbury.uconn.edu. To inquire about sponsorship or participation in next year’s event, email wishfest@uconn.edu.

    MIL OSI USA News

  • MIL-OSI USA: DOE Statement on EIA Annual Energy Outlook

    Source: US Department of Energy

    WASHINGTON— The Department of Energy (DOE) today released the following statement from DOE Spokesperson Andrea Woods on the U.S. Energy Information Administration (EIA) Annual Energy Outlook 2025: 

    “Today’s report from EIA reflects the disastrous path for American energy production under the Biden administration – a path that was soundly rejected by the American people last November. Under President Trump’s leadership, the Department of Energy is charting a new way forward for America’s energy future that promotes greater consumer choice, ensures the U.S. has the power to lead the world in AI development and expands economic growth fueled by American energy dominance. By unleashing energy that is affordable, reliable, and secure, this administration is ensuring America’s future is marked by energy growth and abundance – not scarcity.”

    Background:

    EIA’s Annual Energy Outlook utilizes a reference case that assumes laws and regulations that were in effect as of December 2024 remain in effect through 2050. The report reflects the consequences of the Biden administration’s short-sighted energy policies – many of which have already been reversed by President Trump. The report does not reflect policies enacted by President Trump to expand consumer choice and facilitate greater investment in American energy production. 

     Work is already underway at DOE to advance production of affordable, reliable and secure energy sources, including coal, natural gas and nuclear energy. To date, the Department of Energy has issued six actions removing regulatory barriers to liquefied natural gas (LNG) production, including approving four LNG export permits or project extensions for non-FTA countries. DOE has announced several policies aimed at jumpstarting America’s nuclear energy renaissance, including issuing a loan disbursement for the Palisades Nuclear Plant and announcing the first conditional commitments to distribute HALEU fuel to five U.S. nuclear developers. Just last week, DOE announced a series of new actions that will modernize U.S. coal technologies and promote coal-fired power generation.

    Under President Trump’s leadership, the Department of Energy is continuing to work with its counterparts on the National Energy Dominance Council to remove regulatory hurdles standing in the way of building critical infrastructure and limiting America’s energy potential.

                                                                                             ###

    MIL OSI USA News

  • MIL-OSI: Synaptics to Report Third Quarter Fiscal 2025 Results on May 8, 2025

    Source: GlobeNewswire (MIL-OSI)

    SAN JOSE, Calif., April 15, 2025 (GLOBE NEWSWIRE) — Synaptics® Incorporated (Nasdaq: SYNA) today announced that it will report financial results for the third quarter of fiscal 2025 on Thursday, May 8, 2025, after the market closes. The Company will host a corresponding conference call for analysts and investors at 2:00 p.m. PT (5:00 p.m. ET), to discuss the results.

    To participate on the live call, analysts and investors should pre-register at Synaptics Q3 FY2025 Earnings Call Registration.
    https://register-conf.media-server.com/register/BI116ee59c921049ac96b9faa761d08c9c

    Registrants will receive dial-in information and a unique passcode to access the call. We encourage participants to dial-in into the call ten minutes ahead of scheduled time.

    A live and archived webcast of the conference call will be accessible from the “Investor Relations” section of the Company’s website at https://investor.synaptics.com.

    About Synaptics Incorporated:
    Synaptics (Nasdaq: SYNA) is leading the charge in AI at the Edge, bringing AI closer to end users and transforming how we engage with intelligent connected devices, whether at home, at work, or on the move. As a go-to partner for the world’s most forward-thinking product innovators, Synaptics powers the future with its cutting-edge Synaptics Astra™ AI-Native embedded compute, VerosTM wireless connectivity, and multimodal sensing solutions. We’re making the digital experience smarter, faster, more intuitive, secure, and seamless. From touch, display, and biometrics to AI-driven wireless connectivity, video, vision, audio, speech, and security processing, Synaptics is the force behind the next generation of technology enhancing how we live, work, and play. 

    Follow Synaptics on LinkedIn, X, and Facebook, or visit www.synaptics.com.

    For further information, please contact:
    Munjal Shah
    Synaptics
    +1-408-518-7639
    munjal.shah@synaptics.com

    The MIL Network

  • MIL-OSI: Intermap Presenting at the Planet MicroCap Showcase on April 23, 2025

    Source: GlobeNewswire (MIL-OSI)

    DENVER, April 15, 2025 (GLOBE NEWSWIRE) —  Intermap Technologies (TSX: IMP; OTCQB: ITMSF) (“Intermap” or the “Company”), a global leader in 3D geospatial products and intelligence solutions, today announced that its Chairman and CEO, Patrick A. Blott, will present at the Planet MicroCap Showcase: VEGAS 2025, in partnership with MicroCapClub on Wednesday, April 23, 2025, at 12:30 pm PT / 3:30 pm ET.

    To access Intermap’s Planet MicroCap presentation
    Date Wednesday, April 23, 2025
    Time 12:30 pm PT / 3:30 pm ET
    Webcast Watch here

    In addition to his presentation, Mr. Blott will host one-on-one investor meetings on Thursday, April 24, 2025, providing an opportunity to discuss the Company’s strategic initiatives and ongoing performance. Interested parties can watch a pre-conference interview with Mr. Blott.

    Intermap is executing on its global strategy following its upsized C$12 million bought deal in February. The Company’s multidimensional partnership with Indonesia continues to expand as demand grows from governments and insurers for its proprietary elevation data. In addition, expanding military collaborations are fueling the development of next-generation technologies, for which Intermap will hold exclusive commercial rights. These strategic initiatives underpin the Company’s 2025 revenue guidance of $30 to $35 million—with 70% growth at the low end—and are expected to boost the adjusted EBITDA margin to approximately 28% compared with 23% in 2024.

    “We’ve never been in a stronger position to accelerate growth and create long-term value for our shareholders,” Patrick A. Blott, Intermap Chairman and CEO. “I look forward to updating investors at the Planet MicroCap Showcase on the full potential of Intermap.”

    If you are unable to attend the live presentation, all Company webcasts will be available on the conference event platform under the Agenda tab.

    To book a meeting with Intermap’s Chairman and CEO Patrick Blott
    If you would like to book a one-on-one investor meeting with Intermap and to attend the Planet MicroCap Showcase: VEGAS 2025, in partnership with MicroCapClub, please make sure to register.

    One-on-one meetings will be scheduled and conducted in person at the conference venue: Paris Hotel & Casino in Las Vegas, NV.

    Intermap Reader Advisory 
    Certain information provided in this news release, including reference to revenue growth, constitutes forward-looking statements. The words “anticipate”, “expect”, “project”, “estimate”, “forecast”, “will be”, “will consider”, “intends” and similar expressions are intended to identify such forward-looking statements. Although Intermap believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of known and unknown risks and uncertainties. Intermap’s forward-looking statements are subject to risks and uncertainties pertaining to, among other things, cash available to fund operations, availability of capital, revenue fluctuations, nature of government contracts, economic conditions, loss of key customers, retention and availability of executive talent, competing technologies, common share price volatility, loss of proprietary information, software functionality, internet and system infrastructure functionality, information technology security, breakdown of strategic alliances, and international and political considerations, as well as those risks and uncertainties discussed Intermap’s Annual Information Form and other securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Intermap or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements made herein, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.

    About Planet MicroCap
    Planet MicroCap is a global multimedia financial news, publishing and events company for the MicroCap investing community. We have cultivated an active and engaged audience of folks who are interested in learning about and staying ahead of the curve in the MicroCap space. The Planet MicroCap Showcase: VEGAS 2025 in partnership with MicroCapClub website is available here.

    About Intermap Technologies 
    Founded in 1997 and headquartered in Denver, Colorado, Intermap (TSX: IMP; OTCQB: ITMSF) is a global leader in geospatial intelligence solutions, focusing on the creation and analysis of 3D terrain data to produce high-resolution thematic models. Through scientific analysis of geospatial information and patented sensors and processing technology, the Company provisions diverse, complementary, multi-source datasets to enable customers to seamlessly integrate geospatial intelligence into their workflows. Intermap’s 3D elevation data and software analytic capabilities enable global geospatial analysis through artificial intelligence and machine learning, providing customers with critical information to understand their terrain environment. By leveraging its proprietary archive of the world’s largest collection of multi-sensor global elevation data, the Company’s collection and processing capabilities provide multi-source 3D datasets and analytics at mission speed, enabling governments and companies to build and integrate geospatial foundation data with actionable insights. Applications for Intermap’s products and solutions include defense, aviation and UAV flight planning, flood and wildfire insurance, disaster mitigation, base mapping, environmental and renewable energy planning, telecommunications, engineering, critical infrastructure monitoring, hydrology, land management, oil and gas and transportation. 

    For more information, please visit www.intermap.com or contact:
    Jennifer Bakken
    Executive Vice President and CFO
    CFO@intermap.com
    +1 (303) 708-0955

    Sean Peasgood
    Investor Relations
    Sean@SophicCapital.com
    +1 (647) 260-9266

    The MIL Network

  • MIL-OSI Security: Justice Department Continues Efforts to Stop Unlawful Tax Return Preparers

    Source: United States Department of Justice

    Today, the federal tax filing deadline, the Justice Department’s Tax Division acknowledges the majority of taxpayers and tax return preparers who voluntarily meet their yearly filing obligations. The Tax Division also cautions taxpayers to choose their return preparers carefully and to look out for unscrupulous preparers who make promises of tax reductions not based on legitimate positions and who include errors or false information on tax returns that could leave a taxpayer subject to liability for unpaid taxes, penalties, and interest.

    Over the last year, the Tax Division has worked with U.S. Attorneys’ Offices around the country to bring civil and criminal actions against dishonest tax preparers. These actions include criminal indictments and prison sentences when appropriate as well as civil injunctions to stop ongoing fraud, civil penalties, and disgorgement of ill-gotten proceeds when appropriate. The Justice Department’s message has been clear: those who prepare fraudulent returns will face serious and lasting consequences.

    Examples of civil injunctions obtained by the Tax Division over the last and current filing seasons include:

    • On Oct. 28, 2024, a federal district court in the Southern District of Indiana permanently enjoined Juan Santiago and his tax preparation business, Madison Solutions LLC, from preparing tax returns for others or employing any person acting as a federal tax return preparer. The government’s complaint alleged that Santiago and his business engaged in fraudulent filing schemes by improperly claiming Head of Household filing status, the Child Tax Credit, and business deductions to which their clients were not entitled. The government estimated that these false returns cost the government over $1 million each filing season.
    • On Oct. 3, 2024, a federal district court in the Southern District of Florida entered a permanent injunction against George and Luis Brito and their business, Brito and Brito Accounting USA Inc. The injunction prohibits them from preparing tax returns for others. The government’s complaint alleged that since 2019, the Britos had prepared thousands of tax returns annually, and that they prepared returns that understated their clients’ income by claiming false or inflated business expenses and fabricating residential energy credits.
    • On March 29, 2024, following a 12-day trial, a federal district court in the Eastern District of Michigan permanently enjoined Annetta Powell and seven of her businesses from preparing tax returns for others. The court found that Powell and her businesses prepared returns that reported fake Schedule C businesses and business expenses, claimed household help income they knew the customers did not qualify for, and claimed head of household filing status without doing the required due diligence. The court also ordered Powell to disgorge $697,797 in ill-gotten profits.

    The Tax Division has also sought to strip fraudulent preparers of ill-gotten gains and to hold in contempt those who attempt to flout court-ordered restraints on further fraudulent activity. Over the last year, the division has brought these cases to court, including:

    • On Oct. 24, 2024, a federal district court in the Northern District of Texas held that Jennifer Murley violated a previous injunction against returning tax returns for others. The IRS had suspended Murley’s Electronic Filing Identification Number (EFIN), but she and her tax preparation firm misappropriated EFINs assigned to others. The court ordered Murley to disgorge over $700,000 in ill-gotten gains she received for preparing returns in violation of the previous court order.
    • On Oct. 23, 2024, a federal district court in the Southern District of Florida found Gerald Vito and James Eleby in contempt for violating a previous injunction from 2021 that enjoined them from preparing tax returns for others. Vito and Eleby worked with Kwame Thomas to continue to file returns after being barred from doing so, and the court ordered them to disgorge a total of $988,789.56 in ill-gotten and to notify their clients of the injunction or face possible incarceration.

    Criminal indictments and convictions against fraudulent preparers obtained by the Tax Division since the 2024 filing season include the following :

    • Thierry Musese, who ran a return preparation business from his barbershop located in Auburn, Maine, was charged with preparing false returns and generating fraudulent refunds for clients by including bogus business losses, fuel and residential energy credits. Musese also allegedly defrauded his clients by diverting a portion of their tax refund to himself without their permission. If convicted Musese faces a maximum penalty of three years in prison for each count of preparing a false tax return and a maximum penalty of 20 years in prison for wire fraud.
    • John Borgela, a Florida return preparer, was sentenced to 30 months in prison for conspiring to file hundreds of false tax returns for clients from his business, Empire Tax services. Borgela typically inflated tax withholdings and reported fictitious itemized deductions to reduce his clients’ tax liability or to generate refunds. He concealed his involvement in the fraud by not including his name as the person who prepared the return on his clients’ tax returns.
    • Vervia Watts, a return preparer in Illinois, was sentenced to one year and a day in prison for preparing and filing false returns for clients. Watts prepared over 900 fraudulent income tax returns for her clients, reporting false education expenses and business income to obtain larger refunds from the IRS. She caused a tax loss to the United States of approximately $1.3 million.
    • On April 17, 2024, Jonathan Barefoot, a Mississippi return preparer, was sentenced to 30 months in prison for preparing false tax returns for clients. Barefoot conspired with others to claim inflated tax refunds for clients by reporting false education credits, itemized deductions, and business losses. He and his co-conspirators caused a loss to the United States of approximately $3.5 million.

    The Tax Division reminds taxpayers that the IRS has information, tips, and reminders on its site for choosing a tax preparer carefully (Choosing a Tax Professional and How to Choose a Tax Return Preparer) and has launched a free directory of credentialed federal tax preparers. The IRS also offers taxpayers tips to protect their identities and wallets when filing their taxes.

    In addition, IRS Free File, a public-private partnership, offers free online tax preparation and filing options on IRS partner websites for individuals whose adjusted gross income is under $79,000. For individuals whose income is over that threshold, IRS Free File offers electronic federal tax forms that can be filled out and filed online for free. The IRS has tips on how seniors and individuals with low to moderate income can get other help or guidance on tax return preparation, too.

    In the past decade, the Tax Division has obtained civil injunctions and criminal convictions against hundreds of unscrupulous tax preparers. Information about these cases is available on the Justice Department’s website. An alphabetical listing of persons enjoined from preparing returns and promoting tax schemes can be found on this page. If you believe that one of the enjoined persons or businesses may be violating an injunction, please contact the Tax Division with details. 

    MIL Security OSI

  • MIL-OSI: Banzai Reports Fourth Quarter and Full Year 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Revenue of $16.7 Million on a Consolidated, Pro-forma Basis for the Twelve Months Ending December 31, 2024, Representing 267% Annual Growth; Exceeded Guidance of $10 Million by 67%

    Q4 2024 Adjusted Net Loss Improved by $7.8 Million from ($9.2) Million in Q4 2023 to ($1.4) Million, Bringing the Company Closer to Profitability

    Management to Host Fourth Quarter and Full Year 2024 Results Conference Call Today, Tuesday, April 15, 2025 at 5:30 p.m. Eastern Time

    SEATTLE, April 15, 2025 (GLOBE NEWSWIRE) — Banzai International, Inc. (NASDAQ: BNZI) (“Banzai” or the “Company”), a leading marketing technology company that provides essential marketing and sales solutions, today reported financial results for the fourth quarter and full year ended December 31, 2024.

    Fourth Quarter 2024 and Subsequent Key Financial & Operational Highlights

    • Completed two acquisitions: ClearDoc, Inc. (“OpenReel”) on December 19, 2024, and Vidello, Ltd. (“Vidello”) on January 31, 2025.
    • Signed a definitive agreement to acquire Act-On Software Inc. (“Act-On”), an enterprise marketing automation platform (MAP) provider, which is projected to increase revenue by $27 million for the twelve-month period ending December 31, 2025, on a pro-forma basis, when completed; acquisition subject to closing conditions.
    • Completed ahead-of-schedule repayment of $20.3 million of outstanding liabilities as of March 31, 2025, pursuant to the $24.8 million debt payoff and restructuring agreements announced on September 24, 2024.

    Pro-Forma, As Consolidated Highlights of Banzai International, Inc; ClearDoc, Inc. (d/b/a OpenReel); and Vidello, Ltd.

    • Revenue of $16.7 million on a consolidated, pro-forma basis, for the year ended December 31, 2024, representing 267% annual growth compared to Banzai’s stand-alone revenue in FY 2023.
    • Expanded customer base to over 90,000 total customers.

    Highlights of Banzai International, Inc.

    • Revenue of $4.5 million for FY 2024, a decrease of $0.03 million over FY 2023 of $4.6 million on a GAAP basis.
    • Revenue of $1.3 million for Q4 2024 compared to $1.1 million for Q3 2024, a 20% sequential increase.
    • Annual Recurring Revenue (ARR) of $6.8 million for Q4 2024. This represents a 54% annualized ARR growth rate compared to Q3 2024.
    • Q4 2024 Adjusted Net Loss was ($1.44) million, a $(0.03) million sequential improvement from Q3 2024 Adjusted Net Loss of ($1.47) million. This represents an annualized improvement of $0.12 million.
    • FY 2024 Adjusted EBITDA improved by $5.4 million to ($6.5) million in FY 2024 from ($11.9) million in FY 2023.
    • Launched a comprehensive initiative designed to improve net income by up to $13.5 million annually while maintaining growth outlook.
    • Demio’s AI-powered webinar platform recognized with multiple accolades from the Gartner Digital Markets brands – Capterra, Software Advice, and GetApp.

    Highlights of ClearDoc Inc. (d/b/a OpenReel)

    • OpenReel demonstrated profitable financial results in FY 2024.
    • FY 2024 Revenue of $6.3 million
    • FY 2024 Net Income of $0.1 million

    Highlights of Vidello, Ltd.

    • Vidello demonstrated profitable financial performance in CY 2024.
    • CY 2024 Revenue of $6.1 million
    • CY 2024 Net Income of $1.5 million
    • Launched CreateStudio 4.0, the latest version of its award-winning video creation product.
    • Vidello, Ltd. FY 2024 ends March 31, 2024. CY 2024 results included audited financials for the period January 1, 2024, through March 31, 2024, and include reviewed, unaudited financials for the period April 1, 2024, through December 31, 2024.

    “The fourth quarter was underscored by significant consolidated, pro-forma revenue growth enabled by the recently closed acquisitions of Vidello and OpenReel, and continued strong performance for our products,” said Joe Davy, Founder and CEO of Banzai. “Pro-forma revenue was $16.7 million for the full year 2024 including the recently closed acquisitions, representing a 267% increase from the prior year’s standalone results. Vidello’s next-generation video creation, editing, and marketing suite, and OpenReel’s digital video creation platform combined to add approximately $12.4 million in revenues that enabled us to exceed our previously announced 2024 guidance. In addition, we are making continued progress toward closing the acquisition of Act-On Software, which is projected to increase revenue by $27 million for the full year 2025 on a pro-forma basis when completed, which remains subject to the satisfaction or waiver of closing conditions and therefore there is no guarantee it will be completed or provide such revenue.

    “For the fourth quarter, we achieved a 54% annualized Annual Recurring Revenue growth rate. Growth was driven by our focus on mid-market and enterprise customers, and on the Reach product through re-engineering and expanded sales efforts. In total, we now serve over 90,000 customers.

    “To better serve our customers, we have continued to invest in our products and growth initiatives. We recently launched CreateStudio 4.0, with major A.I. enhancements for video creation including new A.I. builders, hook generators and assistant, and improved audio visualizer, call-to-action, and UI improvements. We added significant enhancements to our Demio platform through deeper integration with Salesforce, and key enhancements designed to maximize efficiency and scalability. Demio’s success was further validated with accolades including the Capterra Shortlist, the Software Advice Frontrunners, the GetApp Category Leaders, and Forbes.

    “In 2024 we developed a completely re-engineered Reach offering, that we feel positions us for future growth in that category, as well as Curate, an AI-powered newsletter product which has already gained meaningful early customer traction.

    “We made significant improvements to our balance sheet and cost structure, which we believe will position us for sustainable profitability in the future. With the investment in our Vidello acquisition, we further improved our financial position and flexibility with a $34.3 million year over year improvement in stockholders’ equity, expected to be positive $3.4 million as of March 31, 2025. We also implemented a strategic initiative that we expect will enable us to significantly improve net income, substantially extend our cash runway, and invest in growth. We are making significant progress toward these goals and overall improvement in net income is expected to be approximately $13.5 million annually when fully implemented, while maintaining our growth outlook.

    “Looking ahead, combined with our new acquisitions we are fueling marketing results with an integrated platform of AI-powered MarTech solutions that will continue to drive growth. We are launching exciting new products and capabilities that will provide innovative solutions for our clients and further our market reach. We continually strive to manage costs efficiently while investing in our software platform, sales and marketing, and product development. We look forward to additional updates on our anticipated milestones in the weeks and months to come,” concluded Davy.

    Fourth Quarter 2024 Financial Results

    Banzai believes its non-GAAP financial measure ARR is more meaningful in evaluating its performance. The Company’s management team evaluates its financial and operating results utilizing this non-GAAP measure. For the three months ended December 31, 2024, ARR increased to $6.8 million, representing a 54% annualized ARR growth rate.

    Total GAAP revenue for the three months ended December 31, 2024, was $1.3 million, a sequential increase of 20.3% from the three months ended September 30, 2024, and an increase of 20.1% compared to the prior year quarter.

    Total cost of revenue for the three months ended December 31, 2024 was $0.4 million, compared to $0.3 million in the prior year quarter, an increase of 19.9%. The increase was proportional to the revenue for the corresponding period.

    Gross profit for the three months ended December 31, 2024, was $0.9 million, compared to $0.8 million in the prior year quarter. Gross margin was 71.2% in the fourth quarter of 2024, compared to 71.3% in the fourth quarter of 2023.

    Total operating expenses for the three months ended December 31, 2024, were $4.8 million, compared to $4.0 million in the prior year quarter.

    Net loss for the three months ended December 31, 2024, was $7.9 million, compared to $6.4 million in the prior year quarter. The greater net loss is primarily due to higher Pubco expense & overall operating expenses.

    Adjusted Net Loss for the three months ended December 31, 2024, was ($1.4) million, compared to ($9.2) million in the prior year quarter. This was driven by improvements to the Company’s efficiency and by write-off agreements entered into for certain liabilities, substantially reducing the Company’s current and future cash liabilities.

    Adjusted EBITDA for the three months ended December 31, 2024, was ($4.1) million, compared to Adjusted EBITDA of ($23.7) million for the prior year quarter, representing an improvement of $19.6 million.

    Full Year 2024 Financial Results

    Total revenue for the year ended December 31, 2024, and 2023, was $4.5 million and $4.6 million, respectively, a decrease of 0.7%. This decrease is primarily attributable to lower Reach revenue which declined by approximately $19 thousand due to a shift in Banzai’s focus to its Demio product and decision to phase out the legacy Reach offering, which decision was reversed in the later part of Q1 2024, with the launch of Reach 2.0. In 2024 Banzai revitalized its focus on the Reach offering through re-engineering and expanded sales efforts. Demio revenue was lower by approximately $223 thousand for the year ended December 31, 2024 as compared to the year ended December 31, 2023 due to churn and lower new sales period-over-period, and due to the company’s strategic shift to focus on mid-market customers, which the Company expects will ultimately result in higher Average Customer Value and Net Retention Rate for the Demio product.

    Cost of revenue for the years ended December 31, 2024, and 2023 was $1.42 million and $1.44 million, respectively. This represents an improvement of approximately $22 thousand, or approximately 1.5%, for the year ended December 31, 2024 as compared to the year ended December 31, 2023. This improvement is due primarily to a higher average customer value that led to an approximately 5% lower average cost per customer, driven by lower contracted services and infrastructure costs of approximately $84 thousand and $90 thousand, respectively.

    Gross profit for the year ended December 31, 2024, and 2023 was $3.11 million and $3.12 million, respectively. This represents a decrease of approximately $11 thousand, or approximately 0.4%, which was due to the decreases in revenue of approximately $33 thousand and decreases in the cost of revenue of approximately $22 thousand described above. Gross margin for the year ended December 31, 2024 and 2023 was 68.6% and 68.3%, respectively.

    Total operating expenses for the year ended December 31, 2024 and 2023, were $16.6 million and $12.9 million, respectively, an increase of 28.4%. This increase was due primarily to an overall increase in salaries and related expenses of approximately $0.5 million, marketing expenses of approximately $0.6 million, costs associated with audit, technical accounting, and legal and other professional services of approximately $2.6 million. On September 16, 2024, the Company implemented a reduction in force (the “Reduction”) intended to decrease expenses and maintain a streamlined organization to support key programs and customers, that is expected to conserve cash. As part of the Reduction, the Company reduced its headcount by 24 employees, which represented approximately 34% of the Company’s full-time employees as of September 16, 2024. The cost-saving measures from the Reduction are expected to reduce annual operating expenses by approximately an additional $1.3 million beginning in the fourth quarter of 2024. The Company estimates that it will incur total restructuring charges of approximately $0.1 million, including severance payments in connection with the Reduction. The Company completed the reduction in October, 2024.

    Net loss for the year ended December 31, 2024 and 2023, was $31.5 million and $14.4 million, respectively. The greater net loss is primarily due to an increase in total other expenses of approximately $13.4 million during the year ended December 31, 2024 compared to the year ended December 31, 2023, in addition to an increase in operating expenses of approximately $3.7 million.

    Adjusted Net Loss for the year ended December 31, 2024 and 2023, was ($6.5) million and ($11.9) million, respectively, representing an improvement of $5.4 million.

    Net cash used in operating activities for the year ended December 31, 2024, was $9.6 million, compared to $1.6 million for the year ended December 31, 2023.

    Cash totaled $1.1 million as of December 31, 2024, compared to $2.1 million as of December 31, 2023.

    Annual Recurring Revenue (“ARR”) refers to annual run-rate revenue of subscription agreements from all customers in the last month of the measured period. These statements are forward-looking and actual ARR may differ materially. Refer to the “Forward-Looking Statements” section below for information on the factors that could cause Banzai’s actual ARR to differ materially from these forward-looking statements.

    Fourth Quarter and Full Year 2024 Results Conference Call

    Banzai Founder & CEO Joe Davy and Interim CFO Alvin Yip will host the conference call, followed by a question-and-answer session. The conference call will be accompanied by a presentation, which can be viewed during the webcast or accessed via the investor relations section of the Company’s website here.

    To access the call, please use the following information:

    A replay of the webcast and the presentation utilized during the call will be available in the Company’s investor relations section here.

    Note About Non-GAAP Financial Measures

    Adjusted EBITDA

    In addition to our results determined in accordance with U.S. GAAP, we believe that Adjusted EBITDA, a non-GAAP measure as defined below, is useful in evaluating our operational performance distinct and apart from certain irregular, non-cash, and non-operational expenses. We use this information for ongoing evaluation of operations and for internal planning purposes. We believe that non- GAAP financial information, when taken collectively with results under GAAP, may be helpful to investors in assessing our operating performance and comparing our performance with competitors and other comparable companies.

    Non-GAAP measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We endeavor to compensate for the limitation of Adjusted EBITDA, by also providing the most directly comparable GAAP measure, which is net loss, and a description of the reconciling items and adjustments to derive the non-GAAP measure.

    Adjusted EBITDA should only be considered alongside results prepared in accordance with GAAP, including various cash-flow metrics, net income (loss) and our other GAAP results and financial performance measures.

    Net Income/(Loss) to Adjusted EBITDA Reconciliation

        Year Ended
    December 31,
        Year Ended
    December 31,
        Year-over-     Year-over-  
    ($ in Thousands)   2024     2023     Year $     Year %  
    Net loss   $ (31,513 )   $ (14,406 )   $ (17,107 )     118.7 %
    Other expense (income), net     88       (63 )     151       -239.7 %
    Depreciation expense     24       7       17       242.9 %
    Stock based compensation     1,166       1,246       (80 )     -6.4 %
    Interest expense           1,068       (1,068 )     -100.0 %
    Interest expense – related party     3,047       4,486       (1,439 )     -32.1 %
    Income tax expense                     nm  
    GEM settlement fee expense     200             200     nm  
    Gain on extinguishment of liabilities     (681 )           (681 )   nm  
    Loss on debt issuance     653             653     nm  
    Loss on issuance of term notes     1,072             1,072     nm  
    Loss on conversion and settlement of Alco promissory notes – related party     4,809             4,809     nm  
    Loss on conversion and settlement of CP BF notes – related party     6,529             6,529     nm  
    Change in fair value of warrant liability     (626 )     (1,807 )     1,181       -65.4 %
    Change in fair value of warrant liability – related party     (573 )     115       (688 )     -598.3 %
    Change in fair value of simple agreement for future equity           (208 )     208       -100.0 %
    Change in fair value of simple agreement for future equity – related party           (2,752 )     2,752       -100.0 %
    Change in fair value of bifurcated embedded derivative liabilities           (1,405 )     1,405       -100.0 %
    Change in fair value of bifurcated embedded derivative liabilities – related party     (51 )     (3,063 )     3,012       -98.3 %
    Change in fair value of convertible notes     693       (34 )     727       -2138.2 %
    Change in fair value of term notes     89             89     nm  
    Change in fair value of convertible bridge notes     (10 )           (10 )   nm  
    Yorkville prepayment premium expense     81             81     nm  
    Goodwill impairment     2,725             2,725     nm  
    Transaction related expenses     5,772       4,746       1,026       21.6 %
    Adjusted EBITDA (Loss)   $ (6,506 )   $ (11,944 )   $ 5,438       -45.5 %


    About Banzai

    Banzai is a marketing technology company that provides AI-enabled marketing and sales solutions for businesses of all sizes. On a mission to help their customers grow, Banzai enables companies of all sizes to target, engage, and measure both new and existing customers more effectively. Customers who use Banzai’s product suite include Autodesk, Dell Technologies, New York Life, Thermo Fisher Scientific, Thinkific, and ActiveCampaign, among thousands of others. Learn more at www.banzai.io. For investors, please visit https://ir.banzai.io.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often use words such as “believe,” “may,” “will,” “estimate,” “target,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “propose,” “plan,” “project,” “forecast,” “predict,” “potential,” “seek,” “future,” “outlook,” and similar variations and expressions. Forward-looking statements are those that do not relate strictly to historical or current facts. Examples of forward-looking statements may include, among others, statements regarding Banzai International, Inc.’s (the “Company’s”): future financial, business and operating performance and goals; annualized recurring revenue and customer retention; ongoing, future or ability to maintain or improve its financial position, cash flows, and liquidity and its expected financial needs; potential financing and ability to obtain financing; acquisition strategy and proposed acquisitions and, if completed, their potential success and financial contributions; strategy and strategic goals, including being able to capitalize on opportunities; expectations relating to the Company’s industry, outlook and market trends; total addressable market and serviceable addressable market and related projections; plans, strategies and expectations for retaining existing or acquiring new customers, increasing revenue and executing growth initiatives; and product areas of focus and additional products that may be sold in the future. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements. Therefore, investors should not rely on any of these forward-looking statements. Factors that may cause actual results to differ materially include changes in the markets in which the Company operates, customer demand, the financial markets, economic, business and regulatory and other factors, such as the Company’s ability to execute on its strategy. More detailed information about risk factors can be found in the Company’s Annual Report on Form 10-K and the Company’s Quarterly Reports on Form 10-Q under the heading “Risk Factors,” and in other reports filed by the Company, including reports on Form 8-K. The Company does not undertake any duty to update forward-looking statements after the date of this press release.

    Investor Relations
    Chris Tyson
    Executive Vice President
    MZ Group – MZ North America
    949-491-8235
    BNZI@mzgroup.us
    www.mzgroup.us

    Media
    Rachel Meyrowitz
    Director, Demand Generation, Banzai
    media@banzai.io

     
    BANZAI INTERNATIONAL, INC.
    Consolidated Balance Sheets
     
        December 31, 2024     December 31, 2023  
    ASSETS            
    Current assets:            
    Cash   $ 1,087,497     $ 2,093,718  
    Accounts receivable, net of allowance for credit losses of $24,210 and $5,748, respectively     936,321       105,049  
    Prepaid expenses and other current assets     643,674       741,155  
    Total current assets     2,667,492       2,939,922  
                 
    Property and equipment, net     3,539       4,644  
    Intangible assets, net     3,883,853        
    Goodwill     18,972,475       2,171,526  
    Operating lease right-of-use assets     72,565       134,013  
    Bifurcated embedded derivative asset – related party     63,000        
    Other assets     11,154       38,381  
    Total assets     25,674,078       5,288,486  
                 
    LIABILITIES AND STOCKHOLDERS’ DEFICIT            
    Current liabilities:            
    Accounts payable     7,782,746       6,439,863  
    Accrued expenses and other current liabilities     3,891,018       5,194,240  
    Convertible notes (Yorkville)           1,766,000  
    Convertible notes – related party     8,639,701       5,233,932  
    Convertible notes     215,057        
    Notes payable – related party, net of discount           9,164,924  
    Notes payable, carried at fair value     3,575,000        
    Deferred underwriting fees           4,000,000  
    Deferred fee           500,000  
    Warrant liability     15,000       641,000  
    Warrant liability – related party     2,300       575,000  
    Earnout liability     14,850       59,399  
    Due to related party     167,118       67,118  
    GEM commitment fee liability           2,000,000  
    Deferred revenue     3,934,627       1,214,096  
    Operating lease liabilities, current     22,731       234,043  
    Total current liabilities     28,260,148       37,089,615  
                 
    Deferred revenue – long-term     117,643        
    Deferred tax liability     10,115        
    Operating lease liabilities, non-current     49,974        
    Other long-term liabilities           75,000  
    Total liabilities     28,437,880       37,164,615  
                 
    Commitments and contingencies (Note 17)            
                 
    Stockholders’ equity (deficit):            
    Common stock, $0.0001 par value, 275,000,000 (250,000,000 Class A and 25,000,000 Class B) shares authorized and 8,195,163 (5,884,029 Class A and 2,311,134 Class B) and 2,585,297 (274,163 Class A and 2,311,134 Class B) issued and outstanding at December 31, 2024 and December 31, 2023, respectively     800       259  
    Preferred stock, $0.0001 par value, 75,000,000 shares authorized, 1 and 0 shares issued and outstanding at December 31, 2024 and December 31, 2023            
    Additional paid-in capital     75,515,111       14,889,936  
    Accumulated deficit     (78,279,713 )     (46,766,324 )
    Stockholders’ equity (deficit)     (2,763,802 )     (31,876,129 )
    Total liabilities and stockholders’ equity (deficit)   $ 25,674,078     $ 5,288,486  
     
    BANZAI INTERNATIONAL, INC.
    Consolidated Statements of Operations
     
        For the Years Ended December 31,  
        2024     2023  
    Operating income:            
    Revenue   $ 4,527,879     $ 4,561,300  
    Cost of revenue     1,422,542       1,444,618  
    Gross profit     3,105,337       3,116,682  
                 
    Operating expenses:            
    General and administrative expenses     16,548,902       12,905,073  
    Depreciation and amortization expense     24,179       7,160  
    Total operating expenses     16,573,081       12,912,233  
                 
    Operating loss     (13,467,744 )     (9,795,551 )
                 
    Other expenses (income):            
    SEPA commitment fee and deferred fee expense           3,826,176  
    GEM warrant expense           2,448,000  
    GEM commitment fee expense           2,000,000  
    GEM settlement fee expense     200,000        
    Other expense (income), net     88,329       (62,985 )
    Interest income     (10 )     (813 )
    Interest expense           1,068,447  
    Interest expense – related party     3,047,101       4,486,027  
    Gain on extinguishment of liabilities     (680,762 )      
    Loss on debt issuance     653,208        
    Loss on extinguishment of term notes     1,071,563        
    Loss on conversion and settlement of Alco promissory notes – related party     4,808,882        
    Loss on conversion and settlement of CP BF notes – related party     6,529,402        
    Change in fair value of warrant liability     (626,000 )     (1,807,000 )
    Change in fair value of warrant liability – related party     (572,700 )     115,000  
    Change in fair value of simple agreement for future equity           (207,570 )
    Change in fair value of simple agreement for future equity – related party           (2,752,430 )
    Change in fair value of bifurcated embedded derivative liabilities           (1,404,863 )
    Change in fair value of bifurcated embedded derivative liabilities – related party     (51,000 )     (3,063,278 )
    Change in fair value of convertible notes     693,000       (34,000 )
    Change in fair value of term notes     88,588        
    Change in fair value of convertible bridge notes     (10,176 )      
    Yorkville prepayment premium expense     80,760        
    Goodwill impairment     2,725,460        
    Total other expenses, net     18,045,645       4,610,711  
    Loss before income taxes     (31,513,389 )     (14,406,262 )
    Income tax expense            
    Net loss     (31,513,389 )     (14,406,262 )
                 
    Deemed dividend – Series A and Series B warrant modification (net of tax)     (418,360 )      
                 
    Net loss attributable to common shareholders   $ (31,095,029 )   $ (14,406,262 )
                 
    Net loss per share attributable to common shareholders            
    Basic and diluted   $ (6.97 )   $ (6.00 )
                 
    Weighted average common shares outstanding            
    Basic and diluted     4,458,169       2,401,988  
     
    BANZAI INTERNATIONAL, INC.
    Consolidated Statements of Cash Flows
     
        For the Years Ended December 31,  
        2024     2023  
    Cash flows from operating activities:            
    Net loss   $ (31,513,389 )   $ (14,406,262 )
    Adjustments to reconcile net loss to net cash used in operating activities:            
    Depreciation and amortization expense     24,179       7,160  
    Provision for credit losses on accounts receivable     18,462       (102,112 )
    Non-cash shares issued to Yorkville for aggregate commitment fee           3,288,000  
    Non-cash issuance of warrants accounted for as liabilities           2,448,000  
    Non-cash share issuance for marketing expenses     245,252        
    Non-cash settlement of GEM commitment fee     200,000       2,000,000  
    Non-cash share issuance for Yorkville redemption premium     80,760        
    Discount at issuance on notes carried at fair value     747,962       686,016  
    Non-cash interest expense – related party     1,532,475       513,977  
    Amortization of debt discount and issuance costs           958,822  
    Amortization of debt discount and issuance costs – related party     1,393,785       2,410,735  
    Amortization of operating lease right-of-use assets     137,717       173,245  
    Stock based compensation expense     1,165,680       1,245,796  
    Gain on extinguishment of liability     (680,762 )      
    Loss on conversion and settlement of Alco promissory notes – related party     4,808,882        
    Loss on conversion and settlement of CP BF notes – related party     6,529,402        
    Loss on debt issuance     653,208        
    Loss on extinguishment of term notes     1,071,563        
    Impairment loss     2,725,460        
    Excise tax           305,719  
    Change in fair value of warrant liability     (626,000 )     (1,807,000 )
    Change in fair value of warrant liability – related party     (572,700 )     115,000  
    Change in fair value of simple agreement for future equity           (207,570 )
    Change in fair value of simple agreement for future equity – related party           (2,752,430 )
    Change in fair value of bifurcated embedded derivative liabilities           (1,404,863 )
    Change in fair value of bifurcated embedded derivative liabilities – related party     (51,000 )     (3,063,278 )
    Change in fair value of convertible promissory notes     693,000       (34,000 )
    Change in fair value of term notes     88,588        
    Change in fair value of convertible bridge notes     (10,176 )      
    Changes in operating assets and liabilities:            
    Accounts receivable     15,828       65,479  
    Prepaid expenses and other current assets     551,645       (407,648 )
    Other assets     27,227        
    Deferred offering costs           (1,708,163 )
    Accounts payable     1,012,281       5,339,614  
    Due to related party           67,118  
    Deferred revenue     (6,315 )     283,660  
    Accrued expenses     498,051       4,448,867  
    Operating lease liabilities     (237,607 )     (284,963 )
    Earnout liability     (44,549 )     (229,700 )
    Deferred fees           500,000  
    Deferred revenue – long-term     10,573        
    Deferred tax liability     10,115        
    Other long-term liabilities     (75,000 )      
    Net cash used in operating activities     (9,575,403 )     (1,550,781 )
    Cash flows from investing activities:            
    Cash acquired in acquisition of OpenReel     82,219        
    Net cash provided by investing activities     82,219        
    Cash flows from financing activities:            
    Effect of Merger, net of transaction costs (Note 4)           (7,615,462 )
    Payment of GEM commitment fee     (1,200,000 )      
    Repayment of convertible notes (Yorkville)     (750,000 )      
    Proceeds from term notes, net of issuance costs     2,782,438        
    Repayment of term notes     (1,939,583 )      
    Partial repayment of convertible notes – related party     (283,315 )      
    Proceeds from Yorkville redemption premium     35,040        
    Proceeds from advance from related party     100,000        
    Proceeds from issuance of GEM promissory note            
    Proceeds from issuance of notes payable, net of issuance costs – related party           4,387,701  
    Proceeds from issuance of convertible notes, net of issuance costs     2,602,000       3,235,000  
    Proceeds from issuance of convertible notes, net of issuance costs – related party           2,583,000  
    Proceeds received for exercise of Pre-Funded warrants     2,072        
    Proceeds from issuance of shares to Yorkville under the SEPA agreement     880,943        
    Proceeds from issuance of common stock     6,257,368       30,761  
    Net cash provided by financing activities     8,486,963       2,621,000  
    Net decrease in cash     (1,006,221 )     1,070,219  
    Cash at beginning of period     2,093,718       1,023,499  
    Cash at end of period   $ 1,087,497     $ 2,093,718  

    The MIL Network

  • MIL-OSI USA: Grassley to Zuckerberg: Stop the Secrecy, End the War on Whistleblowers

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley

    BUTLER COUNTY, IOWA – Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) is demanding answers from Meta Chairman and CEO Mark Zuckerberg on the company’s reported efforts to silence whistleblower and former employee Sarah Wynn-Williams, who alleges Meta developed concerning and potentially unlawful ties with the Chinese Communist Party and targeted teenagers for financial gain. Meta was formerly known as Facebook.

    Grassley is scrutinizing Meta’s severance agreement with Wynn-Williams, which may violate the Security and Exchange Commission’s (SEC) regulations by restricting her ability to claim monetary rewards for reporting illegal conduct.

    “For over a decade, I’ve sounded the alarm about restrictive severance agreements and nondisclosure agreements (NDA) that hinder congressional oversight and improperly silence whistleblowers from making disclosures to Congress and regulatory bodies … It appears that attempts to silence whistleblowers are not just prevalent in the AI sector, but in the tech industry more broadly,” Grassley wrote.

    “The SEC whistleblower program was established by Congress to incentivize whistleblowers to report federal securities laws violations. The program is an important tool to expose fraud, waste, and abuse in our government and publicly traded companies,” Grassley continued.

    Grassley emphasized Meta must ensure its employees can make protected disclosures to federal authorities or Congress without illegal restrictions and bullying. According to Wynn-Williams, Meta has sought to silence her by seeking to collect $50,000 for every disparaging statement made against the company.

    “The tactics used by Meta are clearly aimed at silencing Ms. Wynn-Williams, a brave whistleblower who courageously testified in the face of Meta’s threats at the Senate Judiciary Committee’s Subcommittee on Crime and Counterterrorism,” Grassley concluded.

    Text of Grassley’s letter to Zuckerberg follows:

    April 14, 2025

    VIA ELECTRONIC TRANSMISSION

    Mr. Mark Zuckerberg 

    Chairman and Chief Executive Officer

    Meta Platforms, Inc. 

    Dear Mr. Zuckerberg:

    For over a decade, I’ve sounded the alarm about restrictive severance agreements and nondisclosure agreements (NDA) that hinder congressional oversight and improperly silence whistleblowers from making disclosures to Congress and regulatory bodies.   On August 1, 2024, given my deep concern on this issue, I wrote to OpenAI regarding its use of restrictive employment, severance, non-disparagement, and nondisclosure agreements.   It appears that attempts to silence whistleblowers are not just prevalent in the AI sector, but in the tech industry more broadly.  

    Recently, Ms. Sarah Wynn-Williams approached my office with whistleblower allegations against Meta.  Her allegations raised concerns about Meta’s severance agreement, as well as the company’s ties with China, violations of the Foreign Corrupt Practices Act, practices targeting vulnerable teenagers, sexual harassment, and misrepresentations made to Congress and the company’s shareholders.   Ms. Wynn-Williams has specifically alleged that her severance agreement violated SEC regulation 17 C.F.R. § 240 21F-17 by restricting her from claiming any monetary reward for reporting illegal conduct to the SEC.   The SEC whistleblower program was established by Congress to incentivize whistleblowers to report federal securities laws violations.   The program is an important tool to expose fraud, waste, and abuse in our government and publicly traded companies.  

    According to Ms. Wynn-Williams’ disclosures, Meta has sought to silence her by seeking to collect $50,000 per disparaging statement against the company.   The tactics used by Meta are clearly aimed at silencing Ms. Wynn-Williams, a brave whistleblower who courageously testified in the face of Meta’s threats at the Senate Judiciary Committee’s Subcommittee on Crime and Counterterrorism on April 9, 2025.  

    It’s crucial that Meta ensures its employees can provide protected disclosures without illegal restrictions and bullying.  So that Congress may conduct objective and independent oversight of Meta’s efforts to silence whistleblowers, as well as the allegations raised by Ms. Wynn-Williams, please provide answers to the following no later than April 28, 2025: 

    1. Regarding Meta’s severance, non-disparagement, and other employment agreements, has Meta made changes to the language of the agreements to remove restrictive provisions?  If so, provide a copy of the updated version(s) along with the dates the changes were made.
    1. From 2015 to the date of this letter, how many requests did Meta or its subsidiaries receive from employees to disclose information to federal authorities or Congress?  For each request, provide all records, including the relevant federal authorities, the nature of the information to be disclosed, and whether Meta or its subsidiaries permitted the disclosure. 
    1. From 2015 to the date of this letter, how many SEC investigations has Meta or its subsidiaries been subject to?  For each SEC investigation, provide the basis and outcome.   

    Thank you for your prompt review and response.  If you have any questions, please contact Tucker Akin with my Committee staff at (202) 224-5225.

    Sincerely, 

    Charles E. Grassley 

    Chairman 

    Committee on the Judiciary

    -30-

    MIL OSI USA News

  • MIL-OSI: Diginex Limited and AIKYA Announce Strategic Alliance to Launch diginexESG in Malaysia, Advancing ESG Reporting and Sustainable Finance

    Source: GlobeNewswire (MIL-OSI)

    LONDON, April 15, 2025 (GLOBE NEWSWIRE) — Diginex Limited (“Diginex”) (NASDAQ: DGNX), a leading impact technology company specializing in environmental, social, and governance (“ESG”) solutions, today announced a strategic alliance with AIKYA, a leading AI & big data technology company with around 2.5 million users, to launch its award-winning ESG reporting platform, diginexESG, in Malaysia that was signed on March 18, 2025 with upfront license fee tranche due to Diginex completed today. This collaboration aims to empower Malaysian businesses to enhance ESG transparency, streamline compliance, and drive sustainable finance initiatives in alignment with Malaysia’s sustainability goals.

    The alliance combines Diginex’s cutting-edge technology, including blockchain and AI-driven data analytics, with AIKYA’s deep expertise in technology deployment. Together, they will deliver diginexESG to Malaysian companies of all sizes, enabling them to meet global ESG standards, such as the Global Reporting Initiative or “GRI”, the Sustainability Accounting Standards Board or “SASB”, and the Taskforce on Climate-related Financial Disclosure or “TCFD,” while addressing local frameworks like Bursa Malaysia’s Sustainability Reporting Guidelines. The platform offers intuitive tools for data collection, materiality assessments, and report generation, helping businesses unlock the commercial benefits of sustainability.

    “This strategic relationship with AIKYA marks a significant milestone in expanding our presence in Southeast Asia,” said Mark Blick, CEO of Diginex. “Malaysia is a dynamic market with a strong commitment to sustainable development. By combining diginexESG with AIKYA’s product expertise, we aim to empower businesses to lead in ESG reporting and access sustainable finance opportunities, contributing to Malaysia’s Vision 2030 and net-zero ambitions.”

    AIKYA, known for its expertise in large financial inclusion projects with major government organisations, sees the alliance as a transformative step for Malaysian enterprises. “Our collaboration with Diginex brings world-class ESG technology to Malaysia, enabling companies to navigate complex reporting requirements and attract ESG-focused investments,” said Ramesh CR, Director of AIKYA. “We will support businesses from our Malayia operations in integrating sustainability into their core strategies, fostering resilience and long-term growth.”

    The launch of diginexESG in Malaysia comes at a pivotal time, as sustainable finance grows rapidly, with Malaysia’s green bond and sukuk market gaining traction. The platform’s ESG Ratings Support Service will help companies secure scores from agencies like CDP and Sustainalytics, enhancing their appeal to global investors. This initiative aligns with Malaysia’s leadership in ASEAN’s sustainable finance ecosystem, where green bonds issuance reached USD 4.8 billion in 2023, see ASEAN Sustainable Finance Report.

    About Diginex Limited

    Diginex Limited (Nasdaq: DGNX; ISIN KYG286871044), headquartered in London, is a sustainable RegTech business that empowers businesses and governments to streamline ESG, climate, and supply chain data collection and reporting. The Company utilizes blockchain, AI, machine learning and data analysis technology to lead change and increase transparency in corporate regulatory reporting and sustainable finance. Diginex’s products and services solutions enable companies to collect, evaluate and share sustainability data through easy-to-use software. 

    The award-winning diginexESG platform supports 17 global frameworks, including GRI (the “Global Reporting Initiative”), SASB (the “Sustainability Accounting Standards Board”), and TCFD (the “Task Force on Climate-related Financial Disclosures”). Clients benefit from end-to-end support, ranging from materiality assessments and data management to stakeholder engagement, report generation and an ESG Ratings Support Service.

    For more information, please visit the Company’s website: https://www.diginex.com/.

    About AIKYA

    AIKYA Business Solution Private Limited (AIKYA) is a dynamic and innovative company headquartered in Bangalore, India, with operations in Malaysia. Specializing in providing comprehensive business solutions, AIKYA leverages cutting-edge technology and deep industry expertise to empower organizations across various sectors. With a focus on streamlining operations and enhancing productivity, AIKYA offers a wide range of services, including digital transformation, software development, and consulting.

    AIKYA’s mission is to foster growth and efficiency for its clients by delivering tailored solutions that meet their unique requirements. AIKYA is committed to building long-term partnerships with customers, ensuring they achieve their strategic objectives through effective and sustainable business practices. With a team of skilled professionals dedicated to excellence, AIKYA stands out as a trusted partner in navigating the complexities of the modern business landscape.

    For more information about their services and approach, you can visit their website at (https://aikya.net).

    Forward-Looking Statements

    Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results disclosed in the Company’s filings with the SEC.

    For investor and media inquiries, please contact:

    Diginex
    Investor Relations
    Email: ir@diginex.com  

    IR Contact – Europe
    Anna Höffken
    Phone: +49.40.609186.0
    Email: diginex@kirchhoff.de

    IR Contact – US
    Jackson Lin
    Lambert by LLYC
    Phone: +1 (646) 717-4593
    Email: jian.lin@llyc.global  

    IR Contact – Asia
    Shelly Cheng
    Strategic Public Relations Group Ltd.
    Phone: +852 2864 4857
    Email: sprg_diginex@sprg.com.hk

    AIKYA Contact
    Ramesh CR
    Email: Ramesh.cr@aikya.net

    The MIL Network

  • MIL-OSI: Kling AI Advances to the 2.0 Era, Empowering Everyone to Tell Great Stories with AI

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, April 15, 2025 (GLOBE NEWSWIRE) — Kuaishou Technology (“Kuaishou” or the “Company”; HKD Counter Stock Code: 01024 / RMB Counter Stock Code: 81024), a leading content community and social platform, announced that Kling AI hosted the “From Vision to Screen” launch event for its Kling AI 2.0 Model in Beijing. The event marked a new round of upgrades to Kling’s foundation models, highlighted by the official global debut of Kling AI 2.0 Video Generation Model and Kling AI 2.0 Image Generation Model.

    As the world’s first user-accessible DiT video generation model, in the 10 months since its initial launch in June of last year, its global user base has surpassed 22 million. On March 27, Artificial Analysis, a globally renowned AI benchmarking organization, released the latest global rankings for video generation large models. Kuaishou Kling 1.6 Pro (high-quality mode) topped the Image to Video category with an Arena ELO benchmark score of 1,000, while Google Veo 2 and Pika Art ranked second and third, respectively.

    Since its launch in June of last year, Kling AI has undergone over 20 iterations focused on enhancing the fundamental quality of its models, improving image clarity, and introducing more innovative features to meet diverse user needs. Mr. Gai Kun, Senior Vice President of Kuaishou Technology and Head of the Community Science Department, emphasized that Kling AI’s mission is to empower everyone to tell great stories with AI, enabling more precise and complex creative expression.

    Kling AI Advances to the 2.0 Era, Redefining Human-AI Interaction
    Kling AI 2.0 leads the global industry in areas such as motion quality, semantic responsiveness, and visual aesthetics. Meanwhile, the Kolors 2.0 Model has made significant advancements in prompt adherence, cinematic quality, and artistic style expression. Mr. Gai Kun highlighted that in the team’s internal multi-metric tests and evaluations with GSB (Good-Same-Bad) methodology, both models have consistently ranked No.1 in the industry. For instance, in the image-to-video category, Kling AI 2.0 has a win-loss ratio of 182% against Google Veo2 and 178% against Runway Gen-4, significantly outperforming its rivals in dimensions such as semantic responsiveness, visual quality, and dynamic quality.

    (Mr. Gai Kun, Senior Vice President of Kuaishou Technology and Head of the Community Science Department)

    Mr. Gai Kun believes that AI holds immense potential for assisting creative expression, but current industry conditions fall short of meeting user needs. There are still “numerous challenges” regarding the stability of AI-generated content and the precise expression of users’ complex creative ideas. Therefore, to truly realize the vision of “telling great stories with AI,” it is essential to comprehensively enhance foundation models’ capabilities and define a “new language” for human-AI interaction.

    In this 2.0 model iteration, Kling AI officially introduces multi-modal visual language (MVL), a new interactive concept for AI video generation. This feature allows users to integrate multimodal inputs, such as image references and video clips, enabling them to convey complex creative ideas effectively and directly to AI, covering aspects such as identity, appearance, style, scenarios, actions, expressions, camera movements, and other elements.

    “It’s clear that text alone is insufficient for conveying visual information. We need a new approach that allows people to accurately express their thoughts,” Mr. Gai Kun pointed out. He explained that MVL consists of TXT (Pure Text) and MMW (Multi-modal-document as a Word), which facilitate precise creative expression for AI-empowered creators through two key aspects: setting foundational direction for video generation and enabling fine-tuned control.

    Based on the MVL concept, Kling AI has officially introduced its multimodal editing feature. “Starting today, our multimodal editing capabilities are available on the Kling AI platform. Users can directly input their ideas through images and other formats, generating creative videos that align with their concepts,” explained Mr. Gai Kun. He further highlighted that MMW will extend beyond images and videos, incorporating other forms of information such as voice and motion trajectories, allowing users to express themselves in more diverse ways.

    (“From Vision to Screen” Kling AI 2.0 Launch Event)

    Kling AI 2.0 Master Edition Officially Launched, Unveiling the All-New Multimodal Video Editing Feature
    Leveraging the innovative MVL interaction approach,Mr. Zhang Di, Vice President of Kuaishou Technology and Head of Kling AI, officially unveiled the all-new Kling AI 2.0 Master Edition at the launch event. This new version significantly enhances content generation performance in areas such as semantic responsiveness, motion quality, and visual aesthetics. These upgrades include significant improvements in following instructions, enhanced movie aesthetic expression, and support for over 60 types of stylized effect transcription, achieving a significant leap in creativity and imagination for image generation.

    (Mr. Zhang Di, Vice President of Kuaishou Technology and Head of Kling AI)

    Notably, the Kling AI 2.0 Master Edition features a comprehensive upgrade in controllable video and image generation and editing capabilities. The newly-introduced multimodal video editing function efficiently captures user intent. With a video clip, users can add, remove, or replace content elements generated in the video by inputting images or text, empowering creators with greater flexibility in editing and processing.

    At the same time, Kolors 2.0 has also launched practical image controllable editing functions, including partial redrawing and expanding, and supporting image addition, modification and repair. For multimodal controllable image generation, Kolors 2.0 has also launched a brand-new stylized transcription function, which allows users to switch an image’s artistic style in one click by simply uploading the image with a style description, while precisely retaining the semantic content of the original image.

    (Kling AI 2.0 Master Edition Operation Interface)

    Mr. Zhang Di stated that currently, image-generated video accounts for about 85% of Kling AI video creation, with image quality playing a crucial role in video generation effects. In the realm of large image generation models, Kuaishou Kolors leads the industry with several core advantages, such as powerful complex semantic understanding, movie-level visual quality, and controllable stylized generation under multiple conditions. In a number of internal team win-loss reviews, it maintains a significant advantage over industry-leading image models such as Midjourney V7, FLUX 1.1 Pro, and Reve.

    “Kling AI 2.0 Master Edition is not just a technical upgrade, but a full-spectrum leap in user experience,” Mr. Zhang Di noted. The Kling AI 2.0 Master Edition achieves breakthroughs in technology, user experience, and aesthetics.

    The Rapid Development of AIGC Technology Has Injected New Vitality into Industry Development
    In addition to a subscription service for individual users, Kling AI also offers API interface solutions and other services to businesses. Currently, Kling AI has partnered with thousands of domestic and overseas enterprises, including Xiaomi, Amazon Web Service, Alibaba Cloud, Freepik, and BlueFocus.

    Mr. Gai Kun noted that over 15,000 developers and business clients worldwide have applied Kling API in various industry scenarios, cumulatively generating about 12 million images and over 40 million videos. Today, Kling AI is becoming the new infrastructure for video creation in the AI era, and the rapid development of AIGC technology is reshaping many industries, such as advertising and marketing, professional creation, film and television, and entertainment and creativity.

    Mr. Chen Xiangyu, one of the Kling AI super creators, general director of New World Is Loading, and founder of the media company named Outliers, shared that Kling AI can be fully integrated into the episode creation process. AIGC not only improves efficiency but also revolutionizes the trial-and-error space compared to live shooting and animation. From scriptwriting to content distribution, the Outliers team has completed a comprehensive image industrialization creation process, covering everything from aesthetic expression to lens structure to the intricate presentation of complex action scenes and details. “Through practice, we found that Kling AI is a generative collaborative large model that can be stably and massively embedded into the episode creation process,” Mr. Chen Xiangyu commented. With AI’s assistance, the director and scriptwriting team have brought more of their ideas to life with greater imagination. “AIGC may be the prototype of the next generation of content structure,” said Mr. Chen Xiangyu.

    (Mr. Chen Xiangyu Keling AI Super Creator, General Director of New World Is Loading, Founder of the media company named Outliers)

    To further inspire the creative passion of AI enthusiasts, Mr. Zhang Di, Vice President of Kuaishou Technology and Head of Kling AI, also officially launched the “Kling AI NextGen New Image Venture Capital Program” at the event. This program aims to increase support for AIGC creators through millions of RMB in capital investment, global publicity and distribution, and IP creation and protection, facilitating the global dissemination of compelling AI stories through various flexible collaborations such as wholly-owned production, co-production and technical support, among other means. Meanwhile, Kling AI has extended invitations to global creators to jointly create the world’s first user-co-created AIGC creative short film, showcasing creators’ inspiration and creativity on advertising screens in cities like Shanghai, Hong Kong, Tokyo, Paris, and Toronto.

    Looking to the future, Mr. Gai Kun stated that Kling AI will continue to vigorously promote technological innovation and help users realize the precise expression of complex creative ideas through a new language for human-AI interaction. “Our goal is to empower everyone to tell a good story through AI, and we’re striving to make that a reality sooner,” concluded Mr. Gai Kun.

    About Kuaishou

    Kuaishou is a leading content community and social platform in China and globally, committed to becoming the most customer-obsessed company in the world. Kuaishou uses its technological backbone, powered by cutting-edge AI technology, to continuously drive innovation and product enhancements that enrich its service offerings and application scenarios, creating exceptional customer value. Through short videos and live streams on Kuaishou’s platform, users can share their lives, discover goods and services they need and showcase their talent. By partnering closely with content creators and businesses, Kuaishou provides technologies, products, and services that cater to diverse user needs across a broad spectrum of entertainment, online marketing services, e-commerce, local services, gaming, and much more.

    Forward-Looking Statements

    Certain statements included in this press release, other than statements of historical fact, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may”, “might”, “can”, “could”, “will”, “would”, “anticipate”, “believe”, “continue”, “estimate”, “expect”, “forecast”, “intend”, “plan”, “seek”, or “timetable”. These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include our business outlook, estimates of financial performance, forecast business plans, growth strategies and projections of anticipated trends in our industry. These forward-looking statements are based on information currently available to the Group and are stated herein on the basis of the outlook at the time of this press release. They are based on certain expectations, assumptions and premises, many of which are subjective or beyond our control. These forward-looking statements may prove to be incorrect and may not be realized in the future. Underlying these forward-looking statements are a large number of risks and uncertainties. In light of the risks and uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as representations by the Board or the Company that the plans and objectives will be achieved, and investors should not place undue reliance on such statements. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstances occurring after the date of this press release or those that might reflect the occurrence of unanticipated events.

    For investor and media inquiries, please contact:
    Kuaishou Technology
    Investor Relations
    Email: ir@kuaishou.com

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/4d634aff-a767-494f-9ec7-b714132adacb

    https://www.globenewswire.com/NewsRoom/AttachmentNg/85d520af-328c-41c3-a396-3368cfbf8cfe

    https://www.globenewswire.com/NewsRoom/AttachmentNg/f7e55762-826d-4882-a5ea-8fc78cf6ccad

    https://www.globenewswire.com/NewsRoom/AttachmentNg/a6fc1f62-9681-4980-b378-10dd9df024d7

    https://www.globenewswire.com/NewsRoom/AttachmentNg/9660d1ac-8df4-480f-8cfc-d95880a7ab85

    The MIL Network

  • MIL-OSI: Jamf to Report First Quarter 2025 Financial Results on May 6, 2025

    Source: GlobeNewswire (MIL-OSI)

    MINNEAPOLIS, April 15, 2025 (GLOBE NEWSWIRE) — Jamf (NASDAQ: JAMF), the standard in managing and securing Apple at work, announced today it will report first quarter 2025 financial results for the period ended March 31, 2025, following the close of the market on Tuesday, May 6, 2025. On that day, management will host a conference call and webcast at 3:30 p.m. CT (4:30 p.m. ET) to discuss the company’s business and financial results.

    Jamf First Quarter 2025 Earnings Conference Call

    When: Tuesday, May 6, 2025

    Time: 3:30 p.m. CT (4:30 p.m. ET)

    Live Webcast: The conference call will be webcast live on Jamf’s Investor Relations website at https://ir.jamf.com.

    Those parties interested in participating via telephone may register on Jamf’s Investor Relations website or by clicking here.

    Replay: A replay of the call will be available on the Investor Relations website beginning on May 6, 2025, at approximately 6:00 p.m. CT (7:00 p.m. ET).

    About Jamf

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

    Investor Contact:
    Jennifer Gaumond
    ir@jamf.com

    Media Contact:
    media@jamf.com

    The MIL Network

  • MIL-OSI: Texas Capital President & Chief Executive Officer Rob C. Holmes Now Serves as Chairman of the Board

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, April 15, 2025 (GLOBE NEWSWIRE) — Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital, today announced that President & Chief Executive Officer Rob C. Holmes was confirmed as Chairman of the Board of Directors at the conclusion of TCBI’s 2025 Annual Meeting of Stockholders. Holmes, who has served as President & Chief Executive Officer and a Director of the Board since 2021, was unanimously elected to this position by the Board of Directors in January 2025.

    Bob Stallings, who served as Chairman since 2023, has officially transitioned into the role of Lead Independent Director.

    “I want to thank outgoing Chairman Bob Stallings for his dedication and significant contributions to Texas Capital over the past two years,” said Holmes. “I do not take the responsibilities of this position lightly; it is a distinct honor to serve in this capacity for Texas Capital, and I look forward to building on the firm’s many successes along with our employees. With our highly differentiated platform, industry-leading capital and liquidity, and a clear vision for the future, Texas Capital is well-positioned to serve our clients through all economic conditions and to deliver on our objectives for 2025 and beyond.”

    About Texas Capital Bancshares, Inc.
    Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the Russell 2000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank (“TCB”). Texas Capital is the collective brand name for TCB and its separate, non-bank affiliates and wholly owned subsidiaries. Texas Capital is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio and Fort Worth, and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital has established commercial banking, consumer banking, investment banking and wealth management capabilities. All services are subject to applicable laws, regulations, and service terms. Deposit and lending products and services are offered by TCB. For deposit products, member FDIC. For more information, please visit www.texascapital.com.

    Forward Looking Statements
    This communication contains “forward-looking statements” within the meaning of and pursuant to the Private Securities Litigation Reform Act of 1995 regarding, among other things, TCBI’s financial condition, results of operations, business plans and future performance. These statements are not historical in nature and may often be identified by the use of words such as “believes,” “projects,” “expects,” “may,” “estimates,” “should,” “plans,” “targets,” “intends” “could,” “would,” “anticipates,” “potential,” “confident,” “optimistic” or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy, objectives, estimates, trends, guidance, expectations and future plans.

    Because forward-looking statements relate to future results and occurrences, they are subject to inherent and various uncertainties, risks, and changes in circumstances that are difficult to predict, may change over time, are based on management’s expectations and assumptions at the time the statements are made and are not guarantees of future results. Numerous risks and other factors, many of which are beyond management’s control, could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. While there can be no assurance that any list of risks is complete, important risks and other factors that could cause actual results to differ materially from those contemplated by forward-looking statements include, but are not limited to: economic or business conditions in Texas, the United States or globally that impact TCBI or its customers; negative credit quality developments arising from the foregoing or other factors; increased or expanded competition from banks and other financial service providers in TCBI’s markets; TCBI’s ability to effectively manage its liquidity and maintain adequate regulatory capital to support its businesses; TCBI’s ability to pursue and execute upon growth plans, whether as a function of capital, liquidity or other limitations; TCBI’s ability to successfully execute its business strategy, including its strategic plan and developing and executing new lines of business and new products and services and potential strategic acquisitions; the extensive regulations to which TCBI is subject and its ability to comply with applicable governmental regulations, including legislative and regulatory changes; TCBI’s ability to effectively manage information technology systems, including third party vendors, cyber or data privacy incidents or other failures, disruptions or security breaches; TCBI’s ability to use technology to provide products and services to its customers; risks related to the development and use of artificial intelligence; changes in interest rates, including the impact of interest rates on TCBI’s securities portfolio and funding costs, as well as related balance sheet implications stemming from the fair value of our assets and liabilities; the effectiveness of TCBI’s risk management processes strategies and monitoring; fluctuations in commercial and residential real estate values, especially as they relate to the value of collateral supporting TCBI’s loans; the failure to identify, attract and retain key personnel and other employees; adverse developments in the banking industry and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments, including in the context of regulatory examinations and related findings and actions; negative press and social media attention with respect to the banking industry or TCBI, in particular; claims, litigation or regulatory investigations and actions that TCBI may become subject to; severe weather, natural disasters, climate change, acts of war, terrorism, global conflict (including those already reported by the media, as well as others that may arise), or other external events, as well as related legislative and regulatory initiatives; and the risks and factors more fully described in TCBI’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents and filings with the SEC. The information contained in this communication speaks only as of its date. Except to the extent required by applicable law or regulation, we disclaim any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments.

    The MIL Network

  • MIL-Evening Report: More bulk billing is fine. But what the health system really needs this election is genuine reform

    Source: The Conversation (Au and NZ) – By Stephen Duckett, Honorary Enterprise Professor, School of Population and Global Health, and Department of General Practice and Primary Care, The University of Melbourne

    Worrying signs are emerging about aspects of Australia’s health system, which will require the attention of whoever wins the May election.

    Despite big money pledged for Medicare and the Pharmaceutical Benefits Scheme (PBS), only limited attention has been paid by the major parties to key reform priorities.

    Any fresh reform agenda will be starting from a position of relative strength. Australia has a good health system that consistently ranks well compared with other wealthy nations, including on life expectancy, which is on the high side.

    Medicare remains the right infrastructure for funding primary care. But it is now more than 40 years old and needs to be updated and improved.

    Policy action is necessary on five fronts:

    • financial barriers to care
    • managing chronic conditions
    • mental health and dental care
    • public hospitals
    • workforce

    Priced out of care

    Despite Medicare’s promise of universality, around one in ten people defer seeing a doctor because of the cost.

    And despite the provision of subsidised drugs via the PBS, people also report missing out on filling prescriptions.

    Health Minister Mark Butler has said that Medicare is in its ‘worst shape’ in its 40 year history.
    Robyn Mackenzie/Shutterstock

    Labor has announced big-ticket measures to improve bulk-billing rates and cap PBS prices at A$25 a prescription. Given cost-of-living pressures are central to the election, it’s unsurprising the Coalition has pledged to match both policies.

    But, critically, neither party has announced anything to improve access to other medical specialists. The gap continues to grow between what specialists charge and what Medicare will cover. This means some patients are delaying or avoiding necessary care altogether.

    Complex chronic conditions

    The health system has not adapted to the rising prevalence of chronic disease in the Australian community. In 2023–24, 18% of the population saw three or more health professionals. But for 28% of those people, no single provider coordinated their care.

    Medicare was designed in a different age and needs to be refurbished to respond to this new reality of more patients who are suffering multiple health conditions.

    The Strengthening Medicare Task Force and the GP Incentives Review have proposed new systems to fund general practices to facilitate multidisciplinary care.

    Work needs to continue in this direction, regardless of who forms the next government.

    Forgotten care

    Dental and mental health are largely the forgotten sectors of health care. The number of people delaying access to oral health services because of affordability issues is more than twice the 10% who are missing out in other areas of the health system.

    Seeing a dentist is very much dependant on income. More than a quarter of Australians living in the most disadvantaged areas defer getting their teeth fixed because of the cost involved. Uncapped access to dental care, as proposed by the Greens, is not the answer. What is needed is a more sophisticated route towards universal access.

    By contrast, the pattern for mental health care is different, with people in both poor and rich areas facing access problems.

    The Coalition has promised to restore the maximum number of Medicare-subsidised fee-for-service mental health sessions to 20, despite it being regarded as an inequitable policy.

    More fee-for-service mental health care is not the right approach. By contrast, Labor is making a $1 billion commitment to expanding services which are free to the consumer. This includes Medicare Mental Health Services and headspace clinics, which generally employ salaried professionals.

    Both parties should support another initiative already underway: the universal program for people with low-to-moderate mental health needs, which doesn’t require either a referral or a co-payment. Labor announced the plan in the last budget, scheduled to start in January 2026.

    Inadequate hospital funding

    The Commonwealth share of public hospital funding has been trending down for the last few years, reversing the growth in its share over much of the last decade.

    A deal has been reached to lift the Commonwealth share of hospital funding to 45%.
    Rose Marinelli/Shutterstock

    Some states have fared worse than others, which means some hospitals have become squeezed and waiting times have blown out.

    In late 2023, National Cabinet reached a new funding deal which would lift the Commonwealth share to 45% by 2035–36.

    But subsequent negotiations have become bogged down in a quagmire of claims and counter-claims. The Albanese government has responded with an interim one-year funding down payment. But both major parties need to address this issue and commit to implementing the full 45% in the agreed time frame.

    No doctor in the house

    In 2014, the Abbott government abolished Health Workforce Australia, the national agency responsible for health workforce planning. Ten years later, it’s no surprise we are in the middle of a critical shortage of doctors and nurses.

    The Albanese government has implemented changes to speed up the recruitment of internationally trained health professionals. It is also offering incentives to encourage more clinicians to work in rural and remote Australia.

    But these are just more of the same, similar to the plethora of policies which have left us in the mess we are in. Ensuring we have the right workforce mix to address rural health needs requires a fresh approach. That includes revised funding models – as proposed in the GP incentives review – and allowing all health professionals to work to their full scope of practice.

    Reform hard slog

    Although health often ranks in the top three issues people say are important to them in elections, cost of living is the main focus of media and political commentary.

    The promise to increase bulk billing will help lower primary care costs.

    But genuine health care reform does not attract much media attention, which means it doesn’t get the profile necessary to prompt the right political promises.

    The hard slog of change takes years, and involves much more than a few carrots thrown to voters in an election. It takes careful negotiation with stakeholders and getting the infrastructure right.

    Given the initiatives listed above, Health Minister Mark Butler has done well on reform this term. Unfortunately, voters don’t see that, and appear not to value systematic and coherent reform strategies.

    It is hoped that whoever is health minister after the election will continue on the reform path to a more sustainable and affordable health system.


    This is the eighth article in our special series, Australia’s Policy Challenges. You can read the other articles here.

    Stephen Duckett was a member of the Strengthening Medicare Task Force, the Review of General Prcatice Incentives, the Mental Health Reform Advisory Group, and the Expert Panel on the National Early Intervention Service

    ref. More bulk billing is fine. But what the health system really needs this election is genuine reform – https://theconversation.com/more-bulk-billing-is-fine-but-what-the-health-system-really-needs-this-election-is-genuine-reform-250644

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Trump’s trade war puts America’s AI ambitions at risk

    Source: The Conversation (Au and NZ) – By Albert Zomaya, Professor, School of Computer Science, University of Sydney

    remotevfx.com/Shutterstock

    The global trade war triggered by US President Donald Trump earlier this month shows no signs of ending anytime soon. In recent days, China suspended exports of a wide range of critical minerals that are vital ingredients in everything from electric cars and drones to the semiconductor chips that power artificial intelligence (AI) servers.

    Around the same time, Trump also indicated he would soon impose new tariffs on semiconductor chips.

    All of this is happening at the same time the US is forging ahead with a US$500 billion (A$784 billion) project known as “Stargate” to accelerate the development of AI in the country.

    But the escalating trade war does not square with America’s ambitious AI plans. In fact, Trump’s tariffs (which, in the case of China, now total 145%) are set to undermine these plans by increasing the cost of AI development and disrupting supply chains for AI goods.

    In turn, this will hinder the pace of AI innovation and adoption in the US – and potentially elsewhere.

    Inflating the prices of essential components

    AI development requires significant computational power and specialised hardware such as high-end graphic processing units (GPUs), which are predominantly manufactured in Taiwan and South Korea and often assembled in China.

    US tariffs will directly inflate the prices of these essential components. One analysis estimates tariffs could increase the material costs of data centre building by around 20%, with IT hardware components potentially rising by 25%.

    This is a major concern for AI industry leaders such as OpenAI, which operates ChatGPT. For example, the company’s chief executive, Sam Altman, recently said his team is “working around-the-clock” to determine how the trade war would affect the cost of running their AI models.

    But the increased cost on AI development caused by the trade war will also mean tech startups in the US will have higher barriers to entry and fewer opportunities to test AI capabilities. In turn, this will harm AI innovation.

    In theory, tariffs might support the reshoring of chip production in the US through initiatives such as the CHIPS and Science Act, which promotes domestic US semiconductor production. But it would take years for such efforts to fully bear fruit. And Trump has also recently taken steps to walk away from the CHIPS and Science Act.

    Aggressive AI nationalism

    The trade war also creates risks for the international development of AI.

    For example, the cost increases that flow from tariffs could create a reluctance to invest in AI infrastructure – particularly data centres. Other tech companies might also cancel or delay plans to build data centres in the US partly because of higher equipment prices.

    In addition, tariffs could push countries into further fortifying their AI efforts, creating a kind of aggressive AI nationalism. They could also encourage domestic AI development to promote national interests. This could lead to isolationism and put another nail in the coffin of the open-source culture that once fuelled AI innovation.

    Tariffs are supposed to promote domestic industries. But high costs and a fracturing of the cooperation that is indispensable to the continuation of the AI landscape might well be the outcome.

    One analysis estimates US tariffs could increase the material costs of data centre building by around 20%.
    IM Imagery/Shutterstock

    Knock-on effects for Australia

    Australia is not the direct target of most US tariffs. But the tariffs on advanced technologies and critical components pose risks to its ability to develop AI.

    Although Australia aims to bolster its domestic AI capabilities, it currently relies heavily on imported hardware for AI development. Tariffs will likely make it more expensive for Australian companies and research institutions to acquire the necessary infrastructure, such as semiconductors, GPUs, and cloud computing equipment. In turn, this will potentially hinder their technological progress.

    As the US clamps down on trade and technologies, Australia may find itself locked out of international research projects, perhaps those involving US companies or technologies.

    Such limits on data sharing, international cross-border AI talent, and cloud infrastructure risk slowing the rate of innovation.

    To mitigate the above risks, Australia must invest more in developing domestic AI capacity and diversifying its technological partnerships.

    Albert Zomaya receives funding from a variety of government sources. He is also a member of the Australian Academy of Science.

    ref. Trump’s trade war puts America’s AI ambitions at risk – https://theconversation.com/trumps-trade-war-puts-americas-ai-ambitions-at-risk-254462

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI USA: Following Feenstra Letter, National Institute of Standards & Technology Confirms Full Funding for Center for Industrial Research and Service for Remainder of Fiscal Year 2025

    Source: United States House of Representatives – Representative Randy Feenstra (IA-04)

    WASHINGTON, D.C. – Today, mere hours after U.S. Rep. Randy Feenstra (R-Hull) sent a letter to U.S. Secretary of Commerce Howard Lutnick and Acting Director of the National Institute of Standards & Technology (NIST) Craig Burkhart requesting renewal of the Center for Industrial Research and Service’s (CIRAS) cooperative agreement with the Manufacturing Extension Partnership (MEP), NIST confirmed that CIRAS would receive continued federal funding for Fiscal Year 2025. 

    Feenstra led U.S. Senator Chuck Grassley (R-IA) and U.S. Reps. Mariannette Miller-Meeks (IA-01), Ashley Hinson (IA-02), and Zach Nunn (IA-03) in sending this letter.

    “I’m glad that the National Institute of Standards & Technology decided to renew full funding for the Center for Industrial Research and Service within hours of receiving our letter. This initiative supports manufacturing in Iowa, makes important contributions to our economy, and strengthens our strategic position against countries like China,” said Rep. Feenstra. “Growing our domestic manufacturing sector and bringing jobs back to the United States is a vital mission, and CIRAS helps achieve these critical goals. By restoring full funding for CIRAS, we can continue to invest in our manufacturing might, sustain good-paying jobs in Iowa, and remain at the cusp of innovation and ingenuity, including in AI and other emerging technologies.”

    In their letter, the lawmakers note, in part, that “As Iowa’s federal delegation [Iowan Senators and Members of Congress], we have seen the crucial role CIRAS has played in aiding and growing our state’s manufacturing sector and how critical the Center has been to our state’s economic success. As you will read in the letter from concerned organizations that have firsthand knowledge of the importance of CIRAS to the manufacturing industry, the Center has helped Iowa’s small-to-medium-sized manufacturers for over six decades. Though the total impact of CIRAS since the Kennedy Administration is truly incalculable and indispensable, in the last five years alone, they have served 1,500 Iowa manufacturers that have reported $1.4 billion in financial results.”

    The full letter can be read HERE or below.

    Secretary Lutnick and Acting Director Burkhart, 

    We write with concern over the recent National Institute of Standards & Technology (NIST) decision regarding the Center for Industrial Research and Service (CIRAS). We are enclosing a letter we received from Iowa manufacturing businesses, Chambers of Commerce, and Iowa State University concerning the non-renewal and federal funding stoppage of the Manufacturing Extension Program (MEP) cooperative agreement. 

    As Iowa’s federal delegation [Iowan Senators and Members of Congress], we have seen the crucial role CIRAS has played in aiding and growing our state’s manufacturing sector and how critical the Center has been to our state’s economic success. As you will read in the letter from concerned organizations that have firsthand knowledge of the importance of CIRAS to the manufacturing industry, the Center has helped Iowa’s small-to-medium-sized manufacturers for over six decades. Though the total impact of CIRAS since the Kennedy Administration is truly incalculable and indispensable, in the last five years alone, they have served 1,500 Iowa manufacturers that have reported $1.4 billion in financial results. 

    Additionally, in the non-renewal notice from NIST, it mentioned that the U.S. Department of Commerce is reprioritizing to ensure United States leadership in emerging technologies such as Artificial Intelligence (AI). The work of CIRAS in just the past 12 months has included 16 AI-focused events with almost 400 attendees and 38 AI-focused projects. These AI projects included 9 projects using sensors and data to collect data for AI use, 27 projects leveraging AI tools for business marketing, and 3 projects to develop and implement new AI tools for manufacturers. Additionally, CIRAS has worked with manufacturing enterprises in almost every industry over the last 62 years since its founding. The manufacturing jobs being supported by CIRAS programs in Iowa are supporting emerging technologies and future-ready industries.

    As we work together to support President Trump’s prodigious goal of growing domestic manufacturing and reducing reliance on foreign industry, we believe that CIRAS should continue to be a key pillar of the MEP. We ask that all due consideration is given to resume or begin anew the cooperative agreement between CIRAS and the MEP.

    ###

    MIL OSI USA News

  • MIL-OSI USA: Sens. Warren, Banks Open Bipartisan Investigation Into Harms of Private Equity in Fire Truck Manufacturing

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren

    April 15, 2025

    Private equity roll-ups of fire truck manufacturers create sky-high prices and manufacturing backlogs, putting firefighters and communities in danger 

    “While CEOs and shareholders pad their pockets, consolidation in the industry impedes fire fighters’ ability to do their jobs safely and effectively, squeezes fire departments’ budgets, and forces taxpayers to bear the consequences.”

    Text of Letter (PDF)

    Washington, D.C. – U.S. Senators Elizabeth Warren (D-Mass.) and Jim Banks (R-Ind.) opened a bipartisan investigation into the harms of private equity roll-ups of fire truck manufacturers. The lawmakers wrote to the International Association of Fire Fighters (IAFF), North America’s largest union of firefighters, seeking information about the adverse impact of private equity consolidation on firefighters and communities in Massachusetts, Indiana, and across the country. 

    “While CEOs and shareholders pad their pockets, consolidation in the industry impedes fire fighters’ ability to do their jobs safely and effectively, squeezes fire departments’ budgets, and forces taxpayers to

    bear the consequences,” wrote the lawmakers. “We have heard from dozens of fire departments in Massachusetts, Indiana, and elsewhere about difficulties they have faced related to serial roll-ups of fire truck manufacturers, including delivery delays, defective parts, and price increases.”

    In 2006, private equity group American Industrial Partners (AIP) began rolling up independent fire equipment manufacturers, eventually consolidating four smaller companies into REV Group. Today, as a result of additional acquisitions, REV Group owns about a third of the fire truck manufacturing market, the largest share of any company. Meanwhile, independent companies account for only about 20 percent of the market.

    Large fire truck manufacturers may be exploiting their market power to raise fire truck prices and restrict the supply of fire trucks. In 2013, a pumper truck cost $500,000, and a ladder truck cost $900,000. Today, these prices have skyrocketed to nearly $1 million and $2 million, respectively, far outpacing inflation for heavy-duty truck manufacturing over that time period. Some manufacturers also use “floating” prices, increasing the final price of a truck after it goes into production and even withholding the delivery of the vehicles if fire departments do not agree to the price increases. At the same time, companies like REV have permanently shut down their own manufacturers’ plants, reducing manufacturing capabilities and leading to a nationwide backlog in fire truck delivery. 

    “Rising costs and longer delivery times for fire apparatus and ambulances are hurting fire departments and communities across Massachusetts. I just ordered a fire engine that won’t be delivered for another four years. It took three years for our community to get two ambulances. These manufacturing roll-ups only make it harder for us to do our jobs and protect families,” said Mike Kelleher, President of the Fire Chiefs Association of Massachusetts and Chief of the Foxborough Fire Department.

    Firefighters report that they are forced to use outdated fire trucks because their department can’t afford new trucks. When Los Angeles faced deadly wildfires in January 2025, more than half of the Los Angeles Fire Department’s fire trucks were out of service, hindering the Department’s ability to effectively contain the fires. Skyrocketing costs and lengthy wait times for fire trucks and truck repairs, spurred by private equity’s entry into the fire truck manufacturing industry, leave communities across the country less safe. 

    “Private equity is padding shareholders’ wallets at the expense of public safety,” wrote the lawmakers.

    On a shareholders’ call, REV Group’s CFO noted that manufacturing backlogs benefit the company, saying “strong backlogs” provide the “visibility and opportunity to drive significant shareholder value.”

    The senators warned that private equity’s serial roll-ups may be allowing companies to increase their market share while evading antitrust scrutiny. The Federal Trade Commission and U.S. Department of Justice’s 2023 Merger Guidelines clarify that when a merger is part of a series of multiple acquisitions, the agencies may examine the whole series. 

    “These guidelines are important, as they make clear that antitrust enforcers have authority to investigate and unwind serial roll-ups that threaten competition in a single industry,” concluded the senators

    MIL OSI USA News

  • MIL-OSI NGOs: Sudan: ‘A day of shame’ – Two year anniversary of civil war as UK holds ministerial international conference on the conflict

    Source: Amnesty International –

    UK to host a ministerial-level international Sudan on 15 April aimed at strengthening the international community’s response to the conflict 

    ‘Bringing together international leaders could not come at a more vital time for the UK to champion the protection of women and girls from conflict in Sudan’ – Sacha Deshmukh

    ‘Shame on the world for turning away while Sudan burns. Shame on the countries that continue to add fuel to the fire’ – Erika Guevara Rosas

    April 15 marks the two-year anniversary of the outbreak of civil war in Sudan. Last week, Amnesty International released a new investigation finding the Rapid Support Forces committed widespread sexual violence, including rape, gang rape and sexual slavery, amounting to possible crimes against humanity. 

    Despite these atrocities, the world has largely chosen to remain passive. The UN Security Council has failed to implement a comprehensive arms embargo on Sudan to halt the constant flow of weapons fueling these heinous crimes. 

    Today the UK will host a ministerial-level international Sudan Conference in London aimed at strengthening the international community’s response to the conflict.

    Sacha Deshmukh, Amnesty International UK’s, Chief Executive, said: 

    “Bringing together international leaders could not come at a more vital time for the UK to champion the protection of women and girls from conflict in Sudan. However, the UK’s own drastic aid cut plans are deeply worrying and set a poor example – especially when the world is seemingly turning its back on those experiencing extreme violence.

    “Despite the Prime Minister stressing that the UK will still hold a key humanitarian role in Sudan, its aid cut plans may well discourage additional funding from other states. This conference must recognise the horrendous findings from Amnesty’s report and remain prioritising funds for those most at risk.” 

    On the two-year anniversary of the outbreak of Sudan’s civil war, Amnesty International’s Senior Director for Research, Advocacy, Policy and Campaigns, Erika Guevara Rosas, said: 

    “Today is a day of shame. Shame on the perpetrators on both sides of this terrible conflict who have inflicted unimaginable suffering on civilians. Shame on the world for turning away while Sudan burns. Shame on the countries that continue to add fuel to the fire. 

    “Over the last two years, the Sudan Armed Forces, Rapid Support Forces and their allies have committed atrocity crimes, including sexual violence against women and girls, tortured and starved civilians, rounded people up and killed them, and bombed markets, displaced persons camps and hospitals. These atrocities amount to war crimes.  

    “While the world has failed to support the victims of the war in Sudan – many of whom are facing famine or have been forced to flee their homes – it has contributed a paltry 6.6% of the funds needed to address the country’s humanitarian catastrophe. President Trump’s drastic cuts to USAID are the latest cruel twist of the knife against Sudanese civilians who, through no fault of their own, are experiencing their greatest time of need.

    “The people of Sudan urgently need support and solidarity. The UN Security Council must institute an arms embargo on all of Sudan, while countries around the world must steeply increase their humanitarian assistance. Sudan’s partners must also exert real pressure on the parties to the conflict to stop targeting civilians and to bring the perpetrators of international humanitarian and human rights law violations to justice.  

    “The world must stop ignoring Sudan.”

     

    MIL OSI NGO

  • MIL-OSI NGOs: Sudan: Two years of war and shameful international neglect

    Source: Amnesty International –

    On the two-year anniversary of the outbreak of Sudan’s civil war, Amnesty International’s Senior Director for Research, Advocacy, Policy and Campaigns, Erika Guevara Rosas, said: 

    “Today is a day of shame. Shame on the perpetrators on both sides of this terrible conflict who have inflicted unimaginable suffering on civilians. Shame on the world for turning away while Sudan burns. Shame on the countries that continue to add fuel to the fire. 

    “Over the last two years, the Sudan Armed Forces, Rapid Support Forces and their allies have committed atrocity crimes, including sexual violence against women and girlstortured and starved civilians, rounded people up and killed them, and bombed marketsdisplaced persons camps and hospitals. These atrocities amount to war crimes.  

    “Last week, Amnesty International released a new investigation finding the Rapid Support Forces committed widespread sexual violence, including rape, gang rape and sexual slavery, amounting to possible crimes against humanity. 

    “Despite these atrocities, the world has largely chosen to remain passive. Alarmingly, the UN Security Council has failed to implement a comprehensive arms embargo on Sudan to halt the constant flow of weapons fuelling these heinous crimes. 

    “While the world has failed to support the victims of the war in Sudan – many of whom are facing famine or have been forced to flee their homes – it has contributed a paltry 6.6% of the funds needed to address the country’s humanitarian catastrophe. President Trump’s drastic cuts to USAID are the latest cruel twist of the knife against Sudanese civilians who, through no fault of their own, are experiencing their greatest time of need. 

    “The people of Sudan urgently need support and solidarity. The UN Security Council must institute an arms embargo on all of Sudan, while countries around the world must steeply increase their humanitarian assistance. Sudan’s partners must also exert real pressure on the parties to the conflict to stop targeting civilians and to bring the perpetrators of international humanitarian and human rights law violations to justice.  

    “The world must stop ignoring Sudan.” 

    MIL OSI NGO

  • MIL-OSI NGOs: New Amnesty International Hong Kong office opens overseas

    Source: Amnesty International –

    Amnesty International has announced the launch of a new Hong Kong section based overseas, following the closure of its offices in the city in 2021 amid a crackdown on human rights.

    The new entity, Amnesty International Hong Kong Overseas (AIHKO), will be led by Hong Kong diaspora activists operating from key international hubs including Australia, Canada, Taiwan, the UK and the USA.

    “The opening of Amnesty International Hong Kong Overseas marks a new chapter in the organization’s strengthened commitment to human rights in Hong Kong and its support for the Hong Kong diaspora around the world,” said Chi-man Luk, the new AIHKO Executive Director.

    “The gutting of Hong Kong’s civil society has been a tragedy for the city with more than 100 non-profits and media outlets shut down or forced to flee. But since the closing of Amnesty International Hong Kong three years ago, our dedication has only grown. We are now ready to intensify our efforts by building new communities of support driven by the Hong Kong diaspora.”

    MIL OSI NGO

  • MIL-OSI Europe: Minister highlights key foreign policy milestones and sets future direction

    Source: France-Diplomatie – Ministry of Foreign Affairs and International Development

    Statements by M. Jean-Noël Barrot, Minister for Europe and Foreign Affairs, at his hearing before the National Assembly Foreign Affairs Committee (excerpts) (April 2, 2025)

    (…)

    Thank you for giving me the opportunity to outline the diplomatic track record of the first 100 days of François Bayrou’s government.

    UKRAINE

    The first point, unsurprisingly, relates to Europe’s strategic reawakening and Ukraine’s security. Just over a month ago we entered the fourth year of Russia’s war of aggression in Ukraine, which was a huge jolt for European nations. In recent weeks, as you’ve seen, we’ve made considerable progress towards what could be the resolution of this crisis and, more broadly, a European security architecture capable of deterring the threat for good.

    The Franco-British proposal for a one-month ceasefire in the air, at sea and on energy infrastructure was taken up by the Ukrainian President during his discussions with the United States, which, for its part, insisted on an immediate, complete and unconditional 30-day ceasefire. The Ukrainians, for whom this is a significant compromise, accepted it. (…)

    The Russians rejected the proposal, after suggesting they would abide by it. The situation is now clear: Russia is engaging in delaying tactics and wants to gain time. It hasn’t given up its territorial ambitions, it’s proceeding with further strikes on energy infrastructure, is continuing its war crimes and has even just launched the biggest conscription drive for 14 years – 160,000 young people expected to leave for the front. At this stage, it seems to me that Russia owes the United States, which is striving to lead the mediation, a clear response: yes or no.

    LEBANON

    The second point in our track record is support for Lebanon on the road to reconstruction. Although Lebanon was on the edge of the abyss, we managed to negotiate with our US partners a ceasefire that restored the country’s security and stability. It’s holding, despite the tensions, including the most recent ones. Israeli troops have withdrawn from 99% of the territories they had occupied.

    We’ve helped bring an end to a two-and-a-half-year vacancy for the head of State’s role. President Joseph Aoun was elected in January; he met President Macron in Paris on Friday 28 March. Prime Minister Nawaf Salam is working to give shape to the new hope for that country so close to France’s heart.

    We’ll continue to support its economic recovery and the restoration of a sovereign State by organizing an international conference dedicated to Lebanon’s reconstruction, in Paris this autumn. Between now and then, we’re advising Israel to enter into talks with Lebanon with a view to a definitive withdrawal from the five points it still occupies and the resolution of border disputes.

    SYRIA

    The third point in our record is our clear-sighted and conditional engagement with Syria following the fall of Bashar al-Assad’s criminal regime. We’ve chosen a demanding engagement with the new Syrian authorities, whose past we are aware of, with two goals: to foster a peaceful and inclusive political transition in keeping with Syria’s pluralism, guaranteeing respect for the rights of women and all communities; and to ensure that our security interests, particularly the fight against Islamist terrorism, the destruction of chemical weapons and an end to drug trafficking, are taken into account.

    This explains my visit to Damascus on 3 January and the organization of an international conference on Syria in Paris on 13 February. More recently, we encouraged the signing of an agreement on 10 March between the Damascus authorities and our Kurdish partners in the Syrian Democratic Forces (SDF), which have spearheaded the fight against Daesh in recent years, so that their rights and interests are taken into account in the Syrian transition and we can continue the fight against terrorism. We also ensured that the Organization for the Prohibition of Chemical Weapons (OPCW) can be deployed in Syria to destroy the regime’s stockpile of illegal chemical weapons.

    Our engagement is clear-sighted, demanding, conditional and reversible. We strongly condemned the massacres of Alawite civilians and let the Damascus authorities know that, in the absence of a fight against impunity, we shall not proceed with a lifting of sanctions.

    AFRICA

    The fourth point in the record is the renewal of our partnerships in Africa. At the end of November, the President of Nigeria was welcomed to Paris to strengthen our ties with the continent’s leading demographic power. It was the first state visit to France by an African head of State since 2017. In mid-January we hosted a state visit by the President of Angola, which took over the presidency of the African Union (AU) a month later.

    I personally have made several visits to sub-Saharan Africa: to the Sudanese border, to demonstrate our unfailing mobilization in the face of the world’s biggest humanitarian crisis; to Addis Ababa, headquarters of the AU, to revitalize, five years after the last session, our strategic dialogue with this new G20 member – because the AU has been admitted as a fully-fledged member; to Thiaroye in Senegal, to speak the truth about our shared history; to Johannesburg, to make France’s voice heard at the G20, whose presidency South Africa holds this year; and to Kinshasa and Kigali, to call on the Congolese and Rwandan heads of State to prioritize diplomacy rather than weapons.

    CHINA/TRADE

    Fifth point in the record: progress on trade negotiations in China. My visit last weekend was a first step towards resolving our dispute on Cognac and Armagnac. Before my visit to Beijing, the industry was under threat of an immediate imposition of definitive tariffs ranging from 34% to 39% on Cognac and Armagnac and the definitive closure of access to duty-free shops.

    The demanding dialogue we’ve been conducting has enabled us to maintain this access for goods that have already arrived in China and delay by three months any imposition of definitive tariffs. This significant reprieve allows us to continue this demanding dialogue with China in order to put this dispute behind us. Next step: high-level dialogue between the Economy and Finance Minister and his Chinese counterpart on 15 May.

    ARTIFICIAL INTELLIGENCE

    The sixth point in the record is the success of the Artificial Intelligence (AI) Action Summit, held in Paris in January with more than 100 countries. Co-chaired by France and India, whose prime minister paid an official visit to France on the occasion, it concluded with a statement tackling, for the first time, the challenges of AI in their entirety – environmental, social and democratic. We also managed to secure an announcement of private investment in France to the tune of €109 billion, to benefit our businesses and fellow citizens, which will be followed up with a €50-billion investment by the European Commission, testifying to France’s attractiveness when it comes to this promising technology.

    IRAN/FRENCH HOSTAGES

    The seventh point in the record is the release of several French hostages. On 17 March, after months of active efforts and four conversations with my counterpart, we secured the release of Olivier Grondeau. It was an especially moving moment, shared by the nation’s elected representatives during a tribute paid on 25 March to him and our two other compatriots, Jacques Paris and Cécile Kohler, who are still being held after more than 1,000 days.

    To free them, we’ll be stepping up the pressure on the Iranian regime. First of all, in the coming days, probably during the European Foreign Affairs Council on 14 April, we’ll be adopting additional European sanctions against those Iranians responsible for the state hostages policy. Secondly, given the unacceptable violations of our two compatriots’ right to consular protection, which are sadly just one aspect of their harsh conditions of detention, we’ll be lodging a complaint against Iran with the International Court of Justice, for violating the right to consular protection. (…)

    What makes our diplomacy strong is precisely that it has a more extensive arsenal than others, ranging from dialogue to sanctions, and that it uses it wisely, having learnt from decades and even centuries of French diplomatic successes.

    It’s this strength that I’ll be harnessing in the next 100 days to defend and promote French interests.

    GAZA

    The first area on which we’re focusing efforts is the search for a lasting political solution in Gaza. We’re working for a permanent ceasefire enabling the release of all the hostages and the massive delivery of humanitarian aid, blocked for several weeks, to the civilian population, who are in a tragic situation. We’re convinced that there’s no military solution to the Israeli-Palestinian conflict. In particular, annexation, the forced displacement of people, and settlement activity are a dead end and a threat to the security of Israel itself.

    We’ll continue to work to find the path to a lasting political solution. In Gaza, we support the Arab plan, which proposes a reconstruction framework and credible security guarantees. It aims to establish a new Palestinian governance, in which Hamas must in no way take part. Outside Gaza, we’ll continue working with our Saudi partners, co-chairing an international conference at the United Nations headquarters in New York in the summer, aimed at restoring the prospect of a two-State solution, which alone guarantees peace and security to the Israelis and Palestinians.

    SUDAN

    The second area we’re focusing on concerns the crisis in Sudan, the world’s biggest humanitarian crisis in terms of its scale – 26 million children, women and men in a situation of absolute humanitarian distress. 15 April will mark the second anniversary of the conflict.

    In 2024 we hosted a major international conference on support for Sudan and the neighbouring countries, which raised more than €2 billion in humanitarian commitments. On 15 April I’ll be visiting London for the second conference, co-organized with the United Kingdom, Germany, the European Union and the AU. We’ll review the commitments made last year and call on those involved to shoulder their responsibilities, to ensure that the conflict does not see a third anniversary.

    DRC/RWANDA

    The third area of work concerns diplomatic and humanitarian support in the Great Lakes region. We’re making active efforts to find a diplomatic solution to the crisis tearing apart the eastern DRC, where Rwandan troops are deployed supporting the rebel group M23, in breach of Congolese sovereignty.

    We’re pursuing this goal at several levels: bilaterally, President Macron is in close contact with his two counterparts and the region’s leaders; at the level of the European Union, which recently adopted new individual measures against military leaders from Rwanda and the M23 rebel group; and at the UN, where we played a key role and got the Security Council to adopt a historic resolution at the end of February, unanimously condemning the presence of Rwandan troops in the eastern DRC.

    We’re also in contact with African mediators, who are working on the front line to secure a political resolution to the crisis – i.e. in practical terms, a lasting and mutually-agreed ceasefire and a resumption of negotiations. It’s a matter of urgency. The whole region’s stability is at stake, and the conflict has already led to the displacement of nearly a million people since the beginning of the year, and several thousand deaths. It’s the world’s second most serious humanitarian crisis. So I’ve decided, regardless of the budgetary constraints, to increase our humanitarian support package by €5.5 million.

    IRAN/NUCLEAR PROGRAMME

    Our fourth area of work concerns the search for a binding agreement on Iran’s nuclear programme. Despite the setbacks it has suffered in recent months – the heavy defeat of Hezbollah in Lebanon, the fall of Bashar al-Assad’s regime, Israel’s aerial attack on its territory, a disastrous economic situation – Iran is continuing an agenda of destabilization, raising the stakes in its nuclear programme, which is reaching unprecedented levels, continuing its support for groups that destabilize the region such as the Houthis, supporting Russia’s war in Ukraine by delivering drones and missiles, and a policy of state hostages.

    Ten years after the conclusion of the Joint Plan of Action (JPoA), we remain convinced that Iran must never obtain a nuclear weapon. Our priority is to achieve an agreement that restricts its nuclear programme in a lasting and verifiable way. The window of opportunity is narrow: we have only a few months before the expiry of the JPoA, secured in particular thanks to French negotiators, to whom I pay tribute. In the event of failure, a military confrontation would become all but inevitable. Its cost would be very high, in that it would very badly destabilize the region. We’ve been doing everything to prevent that, for the past 10 years.

    ALGERIA

    Fifthly, we’re focusing our efforts on opening up diplomatic space with Algeria. The tensions between us, which we didn’t cause, serve neither its interests nor ours. We must reduce them rigorously and with honesty, without weakness. That was the approach behind the Prime Minister’s convening of an interministerial meeting on immigration control providing for a re-examination of the agreements reached between the two countries.

    The telephone conversation between President Macron and his Algerian counterpart reopened a diplomatic space allowing the crisis to be resolved. We intend to take advantage of it to achieve results, in the interests of French people, as regards cooperation on migration, justice, security, the economy and remembrance. The two heads of State decided on some principles. They must now find a way to implement them. On Sunday I’ll be visiting Algiers for this. Other ministerial, and no doubt parliamentary, visits will follow.

    WESTERN BALKANS

    Sixth area where we’re focusing our efforts: the Western Balkans. Exactly 30 years ago, the region was in the grip of a very high-intensity war, right at the heart of the European continent, less than 2,000 kilometres from France. In Serbia, the authorities are facing unprecedented public unrest. The negotiations conducted for several months between President Vucic and the demonstrators have made it possible to announce the formation of a new government in the next few weeks, which is a first step towards calming down the situation. Last Saturday, during a conversation, President Macron had the opportunity to encourage him to move further along that path.

    In Bosnia and Herzegovina, since an arrest warrant was issued against him, the President of Republika Srpska, Milorad Dodik, is stepping up his secessionist initiatives, which we have systematically condemned. We gave our consent to a strengthening of the European ALTHEA force, which is under French command, by some 600 additional personnel, so that it could be in a position to calm down the situation if it became toxic. (…)

    We’re focusing on the European Political Community summit being held in Tirana on 16 May, providing President Macron with the opportunity to hold meetings with the authorities in the countries of the region – both the ones gripped by the crisis and those which, on the contrary, are making good progress on their pathway to the European Union, particularly Albania and Montenegro.

    ARMENIA/AZERBAIJAN

    The seventh area on which we’re focusing efforts is the Caucasus, particularly with our support for Armenia. We welcomed the conclusion of negotiations on the peace treaty between Armenia and Azerbaijan. Nothing stands now in the way of it being signed, which I hope will take place as soon as possible. France will continue to unfailingly support Armenia’s resilience and sovereignty. The determination of Nikol Pashinyan’s government to stay on the path of independence, democracy and peace is remarkable, especially as Russia is not hiding its hostility.

    In this context, we are closely following the trial of the Armenians of Nagorno-Karabakh, which began on 17 January at the Baku Military Court. We are being very vigilant as regards the concerns expressed by human rights organizations about the fairness of trials and the treatment of defendants. We call for the release of all prisoners held arbitrarily in Azerbaijan and would like the normalization process between the two countries to allow the issue of prisoners and detainees to be resolved.

    UN OCEAN CONFERENCE

    Our eighth area of work concerns the organization of the third United Nations Ocean Conference (UNOC) in Nice in June. A highlight of our international calendar, 10 years after the conclusion of the Paris climate agreement, it’s set to be its equivalent for the oceans. We’re aiming at several outcomes – one of them is being debated in the Chamber at this very moment – including the entry into force of the international treaty for the protection of the high seas and marine biodiversity, which requires it to be ratified by 60 signatory States. We’ve got to about 20. We’re making active efforts at every level, including that of your committee through Éléonore Caroit, whom I thank. We’ll be opening a ratification office in Nice during UNOC, to encourage countries that are delaying to submit their ratification instruments.

    Allow me to say a word about the two main projects to transform the Ministry.

    INFORMATION WAR

    The first concerns rearmament in the face of the information war. In 2024 France was the European Union country most targeted by foreign interference, with 152 of the 505 cases detected in Europe between November 2023 and November 2024. That year, 2024, saw a great deal of evidence that operations of influence, particularly Russian ones, were being conducted against our civilian population. France has assets to defeat this, but must invest more in informing French people. More broadly, it must not only beef itself up to defend itself but also reinvent itself to make its voice heard, at a time when the information space has become fragmented.

    FOREIGN MINISTRY AND THE PUBLIC

    The second transformation project consists in focusing the Ministry for Europe and Foreign Affairs more on French people and creating through this key State ministry – which is probably one of those least known by our compatriots – a link between diplomacy and nation such as that between the army and the nation. What happens beyond our borders has probably never had so much impact on our compatriots’ daily lives, and both you and I saw during scrutiny of the budget an insufficient understanding of the work we do in parliamentary and ministerial diplomacy to serve our compatriots.

    This transformation project is very far-reaching and affects every dimension of our action. It’s about better assessing and developing the response the Ministry provides to French people’s concerns, for example in terms of employment, the ecological transition, health and immigration. It’s about activating links with French people by supporting economic diplomacy and decentralized cooperation – local authorities are the Ministry’s chief partner. It’s about taking resolute action, with elected representatives of the regions, departments and cross-border communities, to finally remove the many irritants facing the millions of our compatriots who have daily experience of the border. It’s about increasing the number of visits by the Minister within France, which is not customary but seems important in the period we are going through, because our compatriots are worried about what is happening abroad and need to be given some control. Finally, it’s about opening the Quai d’Orsay right up and increasing the number of visits there so that people can properly understand the professions of the diplomatic service, how it can change our compatriots’ lives and why it’s so useful on a daily basis. (…)./.

    MIL OSI Europe News

  • MIL-OSI Asia-Pac: CCI approves the acquisition of certain shareholding in SNV Aviation Private Limited (Akasa Air) by PI Opportunities Fund-I Scheme-II (PIOF), certain executives of PIOF, Claypond Capital Partners Private Limited (Claypond), and 360 ONE Private Equity Fund (360 Fund), through its various schemes and affiliates.

    Source: Government of India

    Posted On: 15 APR 2025 8:07PM by PIB Delhi

    The Competition Commission of India has approved the acquisition of certain shareholding in SNV Aviation Private Limited (Akasa Air) by PI Opportunities Fund-I Scheme-II (PIOF), certain executives of PIOF, Claypond Capital Partners Private Limited (Claypond), and 360 ONE Private Equity Fund (360 Fund), through its various schemes and affiliates.

    The Proposed Combination involves the acquisition of certain shareholding in Akasa Air by  PIOF, PI Executives, Claypond, and 360 Fund, acting through its investment manager, 360 ONE Alternates Asset Management Limited.

    PIOF is a trust established under the laws of India and registered as an Alternative Investment Fund with the Securities and Exchange Board of India and is setup to provide investors with risk-adjusted returns by way of a portfolio of significant and long-term equity investments in various growing entities.

    Claypond is an affiliate of the Pai Family Group. Pai Family Group has made financial investments in various sectors.

    360 Fund is registered with the SEBI as a Category II AIF and is established for the purpose of investing in various sectors in India and worldwide.

    Akasa Air is engaged in the business of providing domestic scheduled air passenger transport services, international scheduled air passenger transport services, air cargo transport services, and allied services including in-flight sales.

    Detailed order of the Commission will follow.

    *****

    NB/AD

    (Release ID: 2121950) Visitor Counter : 55

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: CCI approves the proposed combination involving Waverly Pte. Ltd (“Waverly”), TPG Growth V SF Markets Pte. Ltd (“Growth V”), TPG Growth III SF Pte. Ltd (“Growth III”), Asia Healthcare Holdings Pte. Ltd (“AHH Singapore”), Rhea Healthcare Private Limited (“Rhea”), Asia Healthcare Advisory Holdings LLP (“AHH LLP”), and Asian institute of Nephrology and Urology Private Limited (“AINU”).

    Source: Government of India

    Posted On: 15 APR 2025 8:06PM by PIB Delhi

    The Competition Commission of India has approved the proposed combination involving Waverly Pte. Ltd (“Waverly”), TPG Growth V SF Markets Pte. Ltd (“Growth V”), TPG Growth III SF Pte. Ltd (“Growth III”), Asia Healthcare Holdings Pte. Ltd (“AHH Singapore”), Rhea Healthcare Private Limited (“Rhea”), Asia Healthcare Advisory Holdings LLP (“AHH LLP”), and Asian institute of Nephrology and Urology Private Limited (“AINU”).

    The proposed combination, inter alia, contemplates:

    1. Waverly’s proposed subscription of Ordinary Shares and Class F Redeemable Preference Shares in Asia Healthcare Holdings Pte. Ltd.;
    2. Certain rights accruing to Growth V in AHH Singapore and Rhea (including its downstream entities) and AHH LLP;
    3. Certain rights accruing to Growth III in AHH Singapore (solely in relation to matters pertaining to AINU and its downstream entities);
    4. Proposed acquisition of complete shareholding held by AHH Singapore in AINU, by Rhea (“AINU Transfer”);
    5.  Proposed issuance of equity shares by Rhea to AHH Singapore, as a consideration for the AINU Transfer.

    Growth III and Growth V are investment funds that are ultimately managed and controlled by TPG Inc. (“TPG”), which is a global, diversified investment firm. TPG, including its subsidiaries and affiliates, are together referred to as the “TPG Group”. TPG, the ultimate holding company of the TPG Group, is a company listed on NASDAQ. TPG primarily invests in complex asset classes such as private equity, real estate and public market strategies. The TPG Group operates in India through its various investments with a primary focus on sectors such as technology, healthcare, consumer and financial services.

    Waverly is a wholly-owned subsidiary of Lathe Investment Pte. Ltd., which is in turn, wholly-owned by GIC (Ventures) Pte Ltd. Waverly is a special purpose vehicle organized as a private limited company in Singapore that is part of a group of investment holding companies managed by GIC Special Investments Private Limited.

    AHH is a Singapore incorporated company and is primarily engaged in long term investment holding activities and through its direct/ indirect subsidiaries, is active in providing healthcare services in the field of maternal, child, urology, nephrology and other related health care services in India. AHH Singapore is jointly owned and controlled by the TPG Group and GIC Group.

    Rhea is a specialty hospital chain that provides comprehensive women and childcare and vitro fertilization (post consummation of merger with Nova Medical Centers Private Limited). Rhea currently operates in 19 states and 3 union territories, in India.

    AINU, a single-specialty center in South India, is focused on providing healthcare services through hospitals, specializing in (i) urology care, (ii) nephrology care and (iii) dialysis and kidney transplant. They also provide radiology and pathology services to their patients. It has seven hospitals located across Hyderabad, Vishakhapatnam, Siliguri, Chennai and Secunderabad.

    AHH LLP is engaged in the business of providing advisory services in the areas of strategy, finance and other operational matters (excluding investment management, investment advisory or financial advisory services). Currently, AHH LLP solely provides advisory services to AHH Singapore and/or its downstream entities through providing an inside view into operation and financial control of companies operating in the healthcare sector

    Detailed order of the Commission will follow.

    *****

    NB/AD

    (Release ID: 2121948) Visitor Counter : 51

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: CCI approves acquisition of shares of TKE Group by Alat Technologies and the formation of joint venture by Alat Technologies and the TKE Group

    Source: Government of India

    Posted On: 15 APR 2025 8:05PM by PIB Delhi

    The Competition Commission of India has approved the acquisition of shares of TKE Group by Alat Technologies and the formation of joint venture by Alat Technologies and the TKE Group.

    The proposed combination relates to the: (a) indirect acquisition by Alat Technologies Company (ATC) of shareholding in Vertical Topco S.à r.l. (Vertical Topco), as a result of which ATC will acquire approximately 15% in the TKE Group (Proposed Topco Investment); and (b) the formation of a joint venture by ATC and the TKE Group (KSA JV) (Proposed KSA JV Transaction).

    ATC is a wholly owned subsidiary of the Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia. ATC is active globally and specializes in manufacturing: (a) semiconductors; (b) smart devices; (c) smart buildings; (d) smart appliances; (e) smart health; (f) advanced industrials; (g) next generation infrastructure; (h) electrification; and (i) artificial intelligence infrastructure.

    Vertical Topco is a limited liability company incorporated under the laws of Luxembourg. Vertical Topco is the holding company of the TKE Group. The TKE Group is active globally (in more than sixty countries) in the installation, modernization and servicing of elevators, escalators, moving walks, passenger boarding bridges, and stairlifts, as well as related ancillary products and activities.

    The proposed KSA JV will be active in the manufacture, supply, installation, and maintenance of vertical and horizontal transportation units (elevators, escalators, etc.) primarily in Saudi Arabia, and potentially in other countries of the MENA region.

    Detailed order of the Commission will follow.

    *****

     NB/AD

    (Release ID: 2121947) Visitor Counter : 55

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: The Department of Administrative Reforms and Public Grievances (DARPG) released the 35th Monthly Report on Centralized Public Grievance Redress and Monitoring System (CPGRAMS) of Central Ministries/ Departments performance for the month of March, 2025

    Source: Government of India

    The Department of Administrative Reforms and Public Grievances (DARPG) released the 35th Monthly Report on Centralized Public Grievance Redress and Monitoring System (CPGRAMS) of Central Ministries/ Departments performance for the month of March, 2025

    A total of 1,21,065 Grievances were Redressed by Central Ministries/Departments as of 28th March, 2025

    For the 33rd month in a row, the monthly disposal crossed 1 lakh cases in the Central Secretariat

    Department of Telecommunications, Department of Posts, and Central Board of Indirect Taxes and Customs topped in Group A category in the rankings released for the month of March, 2025

    Ministry of Parliamentary Affairs, Ministry of Tribal Affairs and Department of Heavy Industry topped in Group B category in the rankings released for the month of March, 2025

    Posted On: 15 APR 2025 7:45PM by PIB Delhi

    The Department of Administrative Reforms and Public Grievances (DARPG) released the Centralized Public Grievance Redress and Monitoring System (CPGRAMS) monthly report for March 2025, which provides a detailed analysis of types and categories of public grievances and the nature of disposal. This is the 33rdreport on Central Ministries/Departments published by DARPG.

    A total of 1,21,065 grievances were Redressed by Central Ministries/Departments as of 28th March, 2025. The Average Grievance Disposal Time in the Central Ministries/Departments from 1st March to 28th March, 2025 is 16 days. These reports are part of the 10-step CPGRAMS reform process which was adopted by DARPG to improve the quality of disposal and reduce the timelines.

    The report provides the data for new users registered through the CPGRAMS Portal in the month of March, 2025. A total of 49,912 new users registered by 28th March, 2025, with maximum registrations from Uttar Pradesh (7,602) registrations.

    The said report also provides the state-wise analysis on the grievances registered through Common Service Centres as of 28th March, 2025. CPGRAMS has been integrated with the Common Service Centre (CSC) portal and is available at more than 5 lakh CSCs, associating with 2.5 lakh Village Level Entrepreneurs (VLEs). 7,150 grievances were registered through CSCs by 28th March, 2025. It also highlights the major issues/categories for which the maximum grievances were registered through CSCs.

    The following are the Key Highlights of the DARPG’s monthly CPGRAMS report for March 2025 for Central Ministries/ Departments:

    1. PG Cases:
    • As of 28th March 2025, 1,16,970 PG cases were received on the CPGRAMS portal, 1,21,065 PG cases were redressed and there exists a pendency of 57,456 PG cases.
    1. PG Appeals:
    • As of 28th March 2025, 24,478 appeals were received and 21,400 appeals were disposed
    • The Central Secretariat has a pendency of 25,488 PG Appeals for the period 1st March 2025 to 28th March, 2025.
    1. Grievance Redressal Assessment and Index (GRAI) – till 28th March, 2025
    • Department of Telecommunications, Department of Posts, and Central Board of Indirect Taxes and Customs are amongst the top performers in the Grievance Redressal Assessment & Index within the Group A (more than equal to 500 grievances) as of 28th March, 2025.
    • Ministry of Parliamentary Affairs, Ministry of Tribal Affairs and Department of Heavy Industry are amongst the top performers in Grievance Redressal Assessment & Index within the Group B (less than 500 grievances) as of 28th March, 2025.

    The report also features 4 success stories of effective grievance resolution from Central Ministries/Departments:

    1. Grievance of Shri Prakash Kumar Agarwal – Delay in PF Withdrawal Claim

    Shri Prakash Kumar Agarwal faced delays in the processing of his PF withdrawal claim (Form 19) despite fulfilling all requirements. Having worked for over 12 years, he submitted his application, ensuring TDS exemption as per regulations. After repeated documentation requests over six months, he filed a grievance on the CPGRAMS Portal. Following that, concerned authorities processed his claim promptly, and the final PF settlement of ₹35,31,303/- was issued, resolving the matter within the same day.

    1. Grievance of Shri Vishal Verma – Non-Receipt of LPG Subsidy

    Shri Vishal Verma, holding an HP Gas LPG connection registered in the name of Ms. Anita Verma, faced subsidy non-receipt issues for several months. Upon inquiry at the LPG office, he was informed that his Aadhaar was not linked with NPCI, and he was advised to contact his bank. However, the bank confirmed that the Aadhaar was correctly linked with NPCI. Seeking a resolution, he filed a grievance on the CPGRAMS Portal. After verification by concerned authority, the subsidy was transferred to Ms. Anita Verma’s account.

    1. Grievance of Shri Souptik Sarkar – NFSC Fellowship Disbursement Delay

    Shri Souptik Sarkar, a Ph.D. student at Bidhan Chandra Krishi Viswavidyalaya, faced difficulties in linking his account for the National Fellowship for Scheduled Castes (NFSC) under the UGC NET December session. Despite completing all formalities on the Canara Bank Scholarship Portal, his request was repeatedly rejected due to subject classification issues. Seeking resolution, he filed a grievance on the CPGRAMS Portal. In response, the authorities reviewed the case, and linking request under the NFSC scheme was approved based on an explanation from the Registrar of Bidhan Chandra Krishi Vishwavidyalaya.

    1. Grievance of Smt. Bhumika Naresh Gaikwad – National Overseas Scholarship Processing Delay

    Smt. Bhumika Naresh Gaikwad, selected under the National Overseas Scholarship (NOS) 2024 for a Master of Commerce (Extension) at the University of Sydney, faced delays in receiving her final award letter. Despite completing all formalities, including income and caste verification, she awaited confirmation for months, leading to uncertainty and the need to defer her university intake. With no clear response from the NOS office, she filed a grievance on the CPGRAMS Portal. Following this, the concerned authority issued her final award letter, ensuring she could proceed without further disruptions. The grievance was promptly resolved within just three days of filing.

    *****

    NKR/PSM

    (Release ID: 2121941) Visitor Counter : 15

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: *Cargo traffic on National Waterways hits record high of 145.5 million tonnes in FY 2024-25*

    Source: Government of India

    Posted On: 15 APR 2025 7:43PM by PIB Delhi

    The Inland Waterways Authority of India (IWAI) under the Ministry of Ports, Shipping and Waterways reached a significant milestone in cargo movement on National Waterways. For the fiscal year 2024-25, IWAI has successfully achieved record-breaking 145.5 million tonnes of cargo movement, marking an all-time high in the IWT sector. Along with this, the total number of operational waterways has gone up from 24 to 29 during the year.

    Exponential Growth in Cargo Traffic in last ten years

    Cargo traffic on National Waterways has increased from 18.10 MMT to 145.5 MMT between FY-14 and FY-25, recording a CAGR of 20.86%.

    In FY-25, traffic movement registered a growth of 9.34% year-on-year from FY-24. Five commodities i.e. coal, iron ore, iron ore fines, sand and fly ash constituted over 68% of total cargo moved on NWs during the year.

    The growth in cargo movement on national waterways is noteworthy. In the last few years, several pro-active policy measures and infrastructure initiatives have been taken to streamline cargo movement on NWs. 

    Jalvahak – Cargo Promotion Scheme

    Launched in December last year, the Jalvahak scheme promotes modal shift of cargo from other modes to IWT by incentivising cargo owners and movers to the extent of 35% of the total actual operating expenditure incurred on waterways journey. To give further push to the scheme, scheduled cargo services were made operational on NW-1, NW-2, and NW-16 via the Indo-Bangladesh Protocol. This scheme is expected to divert 800 million tonne-kilometers of cargo to the IWT mode, accounting for nearly 17% of the current 4,700 million tonne-kilometers of cargo on National Waterways.

    Digital Portal for getting NOCs to set up IWT structures on NWs

    The National Waterways (Construction of Jetties/Terminals) Regulations, 2025 encourage private sector investment in the development of inland terminals on National Waterways, optimizing the use of India’s extensive waterways network. Private, public, and joint venture entities can develop jetties/terminals across the country by obtaining a simplified no-objection certificate (NOC) from IWAI through a digital portal.

    Other Initiatives to boost cargo movement

    Fairway Development Works: Development of fairways to ensure least available depth and smooth navigation. End-to-end dredging contracts have been issued for various identified stretches on national waterways.

    Ro-Ro/Ro-Pax Services: Introduction of Roll-on/Roll-off (Ro-Ro) and Ro-Pax services on various National Waterways.

    Digital Solutions: Implementation of digital solutions like CAR-D portal and PANI portal for ease of doing business, Central database for registration of vessel and crew (Jalyaan and Navic) to promote digitisation, Naudarshika (National River Traffic and Navigational System) for safety and smooth operations of inland vessels.

    Besides, adequate waterways infrastructure including like IWT terminals, night navigation facility, navigational locks are being developed along NWs. These initiatives are expected to boost the growth of cargo movement through National Waterways, promoting a more efficient and sustainable mode of transportation.

    With the dynamic leadership of Prime Minister Shri Narendra Modi and the guidance of Minister of Ports, Shipping and Waterways Shri Sarbananda Sonowal, IWAI is committed towards developing waterways as a robust engine of growth. The Authority is expanding its footprint throughout the country, working extensively towards capacity augmentation of NW-1, NW-2, NW-3, and NW-16 among other waterways. The growth in cargo movement on national waterways is a clear indicator that the steps taken by IWAI are yielding positive results and will help in making IWT a preferred and reliable mode of transportation in the long run.  

    ***

    GDH/HR

    (Release ID: 2121940) Visitor Counter : 36

    MIL OSI Asia Pacific News