Category: Machine Learning

  • MIL-OSI: WSO2’s Choreo AI-Native IDP, Now Offered as SaaS and Open-Source Software, Brings New Productivity Gains to Platform and Software Engineering Teams

    Source: GlobeNewswire (MIL-OSI)

    Austin, TX and Barcelona, Spain, March 18, 2025 (GLOBE NEWSWIRE) — WSO2, the leader in enterprise digital infrastructure technology, today announced an update to Choreo, its AI-native internal developer platform (IDP) as a service. Designed to accelerate enterprise innovation, this release introduces two transformative features: a platform engineering perspective that empowers teams to define and manage infrastructure at scale and artificial intelligence (AI) capabilities that amplify productivity across platform and software engineering teams. Initially available as a cloud service, the Choreo IDP is now also offered as downloadable open-source software for the first time—maximizing enterprises’ deployment flexibility.

    In a landscape where enterprises race to harness AI for competitive advantage, Choreo eliminates the bottlenecks of complex development ecosystems. The platform streamlines software delivery, operations, and enterprise engineering, enabling teams to focus on creating business value. WSO2 is demonstrating the latest Choreo release at WSO2Con 2025, which runs March 18-20, 2025 in Barcelona, Spain.

    “AI holds an opportunity for enterprises seeking to compete with new intelligent digital experiences, but the complexity of today’s infrastructure is hindering their efforts,” said Kanchana Wickremasinghe, WSO2 vice president and general manager – Choreo. “The latest release of our Choreo AI-native IDP, available in the cloud and as open-source software, is clearing the way for enterprises to innovate by extending AI capabilities that help software engineers deliver new apps faster while enabling platform engineers to quickly respond to developers’ ever-changing requirements and expectations.”

    A Platform for Platform Engineers
    Choreo provides a unified platform for platform, DevOps, and site reliability engineering (SRE) teams to configure and manage infrastructure, continuous integration/continuous delivery (CI/CD) pipelines, and environments, and operate securely at scale. New capabilities include:

    • Advanced Pipeline Handling: Customizable CI pipelines and parallel deployment options support multi-cloud architectures and rapid hotfixes.
    • Self-Service Data Planes (Beta): Customers can transform Kubernetes clusters into fully-managed, production-ready Choreo data planes via an intuitive UI.
    • FinOps with AI: Machine-learning-driven insights identify cost patterns, detect anomalies, and recommend optimizations, empowering proactive cloud cost management.
    • Application Alerts: Teams can monitor applications based on metrics and logs and receive automatic alerts.
    • Support for Local Pipelines and Observability: Organizations now have the option to run pipelines and observability metrics entirely within customer-managed infrastructure to provide greater control, visibility and flexibility.

    Together, the capabilities enable platform engineers to adopt a cloud native internal developer platform that allows them to respond dynamically to evolving developer needs and maintain compliance and control while empowering developers to self-service and focus on building digital experiences.

    Enhanced Productivity for Software Engineers
    Choreo supports software engineers with a Copilot for AI-assisted documentation and testing; an enterprise marketplace; API management; managed databases, caches, and Kafka; and support for a cell-based architecture. New capabilities include:

    • API-Key Support: Choreo simplifies API security by supporting the use of encryption keys for APIs used by machines.
    • Hotfix Pipelines: Choreo’s new hotfix deployment pipelines let teams deploy fixes in an emergency to production environments faster.
    • Streamlined configuration management: Choreo helps to reduce redundancy, simplify deployment, and minimize errors through support for environment-aware configuration groups and unified configuration declaration across projects and component types.

    New Choreo Open-Source IDP Software Version
    WSO2 is also introducing an open-source software version of the Choreo internal developer platform that is ready to use out of the box. Now enterprises that want an IDP they can manage on-premises or in a private cloud can gain all the benefits provided by the Choreo IDP as a service, including greater productivity across platform and software engineering teams, significant cost efficiencies, and faster time to market. 

    For platform engineers, Choreo provides extensive control over infrastructure management, deployment workflows, security governance, etc. For developers, the platform offers self-service capabilities across software delivery and engineering where developers can build, deploy, and run applications using automated CI/CD pipelines, while leveraging built-in API management, service mesh, and observability features. And for team members across the organization, AI-driven tools foster even greater visibility, governance and productivity.

    Availability and Support
    The new features in Choreo are generally available with the exception of self-service data planes now in beta. Developers and platform engineers can subscribe to Choreo directly from WSO2 or via the Microsoft Azure, Amazon Web Services (AWS), and Google Cloud Platform (GCP) marketplaces. More details are covered in today’s Choreo release blog post and Choreo open-source release blog post. Additionally, developers and other technology professionals can visit WSO2’s website to try the Choreo IDP as a service for free or download the new open-source IDP software

    About WSO2
    Founded in 2005, WSO2 is the largest independent software vendor providing open-source API management, integration, and identity and access management (IAM) to thousands of enterprises in over 90 countries. WSO2’s products and platforms—including our next-gen internal developer platform, Choreo—empower organizations to leverage the full potential of artificial intelligence and APIs for securely delivering the next generation of AI-enabled digital services and applications. Our open-source, AI-driven, API-first approach frees developers and architects from vendor lock-in and enables rapid digital product creation. Recognized as leaders by industry analysts, WSO2 has over 800 employees worldwide with offices in Australia, Brazil, Germany, India, Sri Lanka, the UAE, the UK, and the US, with nearly USD100M in annual recurring revenue. Visit https://wso2.com to learn more. Follow WSO2 on LinkedIn and X (Twitter).

    The MIL Network

  • MIL-OSI: From Experiment to Execution: WSO2 Brings AI into the Heart of Modern Software Development

    Source: GlobeNewswire (MIL-OSI)

    Austin, TX and Barcelona, Spain, March 18, 2025 (GLOBE NEWSWIRE) — Emerging artificial intelligence (AI) technologies are disrupting business models and opening opportunities to drive cost-efficiencies and new revenue streams. However, few AI proof-of-concept projects actually make it to production because current software platforms lack the abstractions and building blocks to include AI components in production-grade applications in a way that is easy and scalable. Today, WSO2 is closing this gap with the next generation of its industry-leading, open-source platform, which has been reinvented for the AI era. 

    AI is now a first-class concept across the entire spectrum of products that comprise the WSO2 software stack—enabling enterprises to easily create (code), integrate, manage and secure intelligent digital products and services. The newest WSO2 product offerings are generally available, and their AI-native capabilities are being demonstrated at WSO2Con 2025, which runs March 18-20, 2025 in Barcelona, Spain.

    Taking a Comprehensive Long-View to AI
    WSO2’s AI-native platform is the result of the long-term strategy that WSO2 product and research teams have built around generative AI (GenAI) and the agentic economy. It builds on WSO2’s breadth of functionality and experience to cover an AI application’s entire lifecycle, from coding through delivery, monitoring and observability. 

    The platform brings together low-code and pro-code programming for building AI agents, applications that leverage Gen AI and AI agent capabilities, and a novel programming approach that combines natural language and code. Additionally, the open WSO2 platform integrates out-of-the-box with AI ecosystem libraries, agent frameworks, knowledge bases, and GenAI APIs. Together, the capabilities allow enterprises to build resilient, scalable, secured and observable AI APIs, applications and agents while leveraging WSO2’s GenAI productivity support to reduce both costs and time to market.

    Enterprises can also onboard AI agents built on their framework of choice and apply WSO2’s quality of service capabilities—including security, governance or monitoring. Moreover, the open, highly extensible WSO2 platform is designed to evolve with AI technology developments, providing enterprises with a future-proof platform for their intelligent digital experiences. 

    “AI is fundamentally changing the applications that enterprises are building, as well as how they are building them,” said Dr. Sanjiva Weerawarana, WSO2 founder and CEO. “WSO2 is on a transformational journey across the company to help our customers use AI to boost their own productivity and deliver great digital experiences. As part of this journey, we are building on our commitment to open-source software, a key enabler of AI adoption. We’re also investing in our team, and we are excited to have AI expert Rania Khalaf join WSO2 as Chief AI Officer to spearhead our company-wide strategy and roadmap for delivering on the promise of the AI era.”

    Supporting AI Across the Software Development Lifecycle
    “The modern application is AI native. The current software development lifecycle (SDLC) and software application stack are not,” said Rania Khalaf WSO2 chief AI officer. “What is happening is a fundamental co-evolution of both—at every level and stage—as generative AI boosts developer productivity and pushes multi-modal understanding and synthesis deep into the development stack. WSO2 is positioned at the center of this shift with an open-source platform that, for the first time, brings AI-native capabilities to functions across the SDLC.”

    Today, product offerings across the WSO2 platform bring together the AI-native capabilities enterprises need to easily code, integrate, manage and secure intelligent digital products and services.

    Code: WSO2 supports a new AI-native “natural programming” approach via its Ballerina specialized integration language. WSO2 also provides the ability to create AI agents and AI APIs, as well as build retrieval-augmented generation (RAG) and other AI-driven applications using capabilities from the Choreo internal developer platform as a service (IDPaaS), WSO2 Integration Manager and Devant integration platform as a service (iPaaS), and WSO2 API Manager and Bijira API management software as a service (SaaS). Additionally, these products feature a range of AI-powered tools to support developer productivity.

    Integrate: WSO2 enables developers to use AI to create intelligent integrations, supported by extensive connectivity to large language models (LLMs), vector databases, AI agents, APIs and systems using WSO2 Integration Manager and the Devant IpaaS. Meanwhile the AI Gateway employed by WSO2 API Manager and Bijira API management SaaS provides visibility and control over third-party APIs for AI services and LLMs along with multi-model backend support for seamless, dynamic routing of AI API requests between OpenAI, Microsoft Azure OpenAI, and Mistral models.

    Manage: WSO2 empowers development teams to manage AI APIs, AI agents, and AI integrations using Choreo, WSO2 API Manager, WSO2 Integration Manager, Bijira and Devant. WSO2’s API management products also add AI-driven governance to automatically ensure API compliance with organizational policies and industry standards. Additionally, the Choreo IDPaaS delivers new AI-driven capabilities to help teams identify spending patterns, detect anomalies, and recommend cost-saving actions, enabling organizations to proactively manage cloud costs and improve financial efficiency. 

    Secure: AI agents are first-class citizens in WSO2 identity and access management (IAM) products—securing access to agents and controlling what agents can access, as well as enabling the delegation of access from human users to the agents that are helping them get work done. The products include WSO2 Identity Manager, WSO2 Private Identity Cloud, and the Asgardeo identity as a service (IDaaS). At the same time, all WSO2 cloud offerings, including Choreo, Asgardeo, Devant and Bijira provide robust zero-trust security.

    For More Information
    To learn more about WSO2’s AI-native capabilities, visit the WSO2 AI page and reference the press announcements synchronized with WSO2Con 2025 for WSO2’s Choreo, API Management, Integration, and IAM business units. 

    About WSO2
    Founded in 2005, WSO2 is the largest independent software vendor providing open-source API management, integration, and identity and access management (IAM) to thousands of enterprises in over 90 countries. WSO2’s products and platforms—including our next-gen internal developer platform, Choreo—empower organizations to leverage the full potential of artificial intelligence and APIs for securely delivering the next generation of AI-enabled digital services and applications. Our open-source, AI-driven, API-first approach frees developers and architects from vendor lock-in and enables rapid digital product creation. Recognized as leaders by industry analysts, WSO2 has over 800 employees worldwide with offices in Australia, Brazil, Germany, India, Sri Lanka, the UAE, the UK, and the US, with nearly USD100M in annual recurring revenue. Visit https://wso2.com to learn more. Follow WSO2 on LinkedIn and X (Twitter).

    The MIL Network

  • MIL-OSI: UP Fintech Holding Limited Reports Unaudited Fourth Quarter And Full Year 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, March 18, 2025 (GLOBE NEWSWIRE) — UP Fintech Holding Limited (NASDAQ: TIGR) (“UP Fintech” or the “Company”), a leading online brokerage firm focusing on global investors, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2024.

    Mr. Wu Tianhua, Chairman and CEO of UP Fintech stated: “Both of our financial and operating performance have achieved significant growth in the fourth quarter and the full year of 2024. Total revenue in the fourth quarter reached US$124.1 million, representing a sequential increase of 22.8% and a year-over-year growth of 77.3%. The full year total revenue amounted to US$391.5 million, a 43.7% increase from 2023. Bottom line also largely increased on a GAAP and non-GAAP basis. Net income attributable to ordinary shareholders of UP Fintech in the fourth quarter reached US$28.1 million, representing a quarter-over-quarter growth of 58.0% and compared to a net loss of US$1.8 million in the same quarter of last year. Non-GAAP net income attributable to ordinary shareholders of UP Fintech in the fourth quarter amounted to US$30.5 million, a quarter-over-quarter increase of 51.7% and a year-over-year increase of 2772.5%. The full year net income and non-GAAP net income attributable to ordinary shareholders of UP Fintech in 2024 were US$60.7 million and US$70.5 million, increased 86.5% and 65.0% respectively compared to prior year. We are pleased to see that both our annual and quarterly topline and bottom line have reached an all-time high as we keep executing internationalization strategy and building a resilient business model with healthier operating leverage.

    In the fourth quarter, we added 59,200 customers with deposits, an increase of 17.2% quarter over quarter and 51.4% year over year, bringing our yearly total to 187,400, exceeding our yearly guidance of 150,000. The total number of customers with deposits at the end of 2024 reached 1,092,000, a 20.7% increase compared to 2023 year-end. Additionally, asset inflows remained robust, with a net inflow of US$1.1 billion in the fourth quarter, primarily from retail investors. This was slightly offset by a mark-to-market loss. As a result, the total account balance rose by 2.4% quarter over quarter and 36.4% year over year, reaching a record US$41.7 billion. Over the past three years, the number of customers with deposits and total account balance have achieved compound annual growth rates (“CAGRs”) of 17.5% and 34.7%, respectively.

    We have continued to roll out a range of localized products and features designed to enhance the user experience. In late January, our cryptocurrency platform, YAX (Hong Kong) Limited, received official approval from the Hong Kong Securities and Futures Commission (HKSFC), becoming a licensed virtual asset trading platform (VATP) in Hong Kong. Recently, we officially upgraded our AI investment assistant, TigerGPT to TigerAI and integrated with leading AI models, making it the first brokerage platform globally to incorporate such technology.

    Our corporate business continued to perform well in the fourth quarter of 2024. During this period, we underwrote a total of 14 U.S. and Hong Kong IPOs, including “Mao Geping Company”, “Pony AI Inc.” and “WeRide Inc.”, bringing the total number of U.S. and Hong Kong IPOs underwritten for the year to 44. In our ESOP business, we added 16 new clients in the fourth quarter, bringing the total number of ESOP clients served to 613 as of December 31, 2024.”

    Financial Highlights for Fourth Quarter 2024

    • Total revenues increased 77.3% year-over-year to US$124.1 million.
    • Total net revenues increased 98.9% year-over-year to US$107.4 million.
    • Net income attributable to ordinary shareholders of UP Fintech was US$28.1 million compared to a net loss of US$1.8 million in the same quarter of last year.
    • Non-GAAP net income attributable to ordinary shareholders of UP Fintech was US$30.5 million, compared to a non-GAAP net income of US$1.1 million in the same quarter of last year, an increase of 2772.5%. A reconciliation of non-GAAP financial metrics to the most comparable GAAP metrics is set forth below.

    Financial Highlights for Fiscal Year 2024

    • Total revenues increased 43.7% year-over-year to US$391.5 million.
    • Total net revenues increased 46.6% year-over-year to US$330.7 million.
    • Net income attributable to ordinary shareholders of UP Fintech was US$60.7 million compared to a net income of US$32.6 million in 2023, an increase of 86.5%.
    • Non-GAAP net income attributable to ordinary shareholders of UP Fintech was US$70.5 million, compared to a non-GAAP net income of US$42.7 million in 2023, an increase of 65.0%. A reconciliation of non-GAAP financial metrics to the most comparable GAAP metrics is set forth below.

    Operating Highlights as of Year End 2024

    • Total account balance increased 36.4% year-over-year to US$41.7 billion.
    • Total margin financing and securities lending balance increased 88.2% year-over-year to US$4.5 billion.
    • Total number of customers with deposit increased 20.7% year-over-year to 1,092,000.

    Selected Operating Data for Fourth Quarter 2024

      As of and for the three months ended
      December 31,   September 30,   December 31,
      2023   2024   2024
    In 000’s          
    Number of customer accounts 2,195.7   2,368.0   2,449.3
    Number of customers with deposits 904.6   1,032.8   1,092.0
    Number of options and futures contracts traded 8,044.5   15,261.2   18,926.3
    In USD millions          
    Trading volume 81,765.2   162,990.0   198,016.9
    Trading volume of stocks 19,711.6   41,406.3   55,502.6
    Total account balance 30,597.5   40,763.6   41,725.2
               

    Fourth Quarter 2024 Financial Results

    REVENUES

    Total revenues were US$124.1 million, an increase of 77.3% from US$70.0 million in the same quarter of last year.

    Commissions were US$56.0 million, an increase of 154.9% from US$22.0 million in the same quarter of last year, due to an increase in trading volume.

    Financing service fees were US$2.8 million, a decrease of 12.7% from US$3.2 million in the same quarter of last year, primarily due to a decrease in securities lending activities of our fully disclosed account customers.

    Interest income was US$55.8 million, an increase of 39.6% from US$40.0 million in the same quarter of last year, primarily due to the increase in margin financing and securities lending activities of our consolidated account customers.

    Other revenues were US$9.6 million, an increase of 96.2% from US$4.9 million in the same quarter of last year, primarily due to the increase in IPO subscription incomes and currency exchange incomes.

    Interest expense was US$16.7 million, an increase of 4.6% from US$16.0 million in the same quarter of last year, primarily due to the increase in margin financing activities.

    OPERATING COSTS AND EXPENSES

    Total operating costs and expenses were US$73.1 million, an increase of 39.3% from US$52.5 million in the same quarter of last year.

    Execution and clearing expenses were US$6.1 million, an increase of 171.5% from US$2.2 million in the same quarter of last year due to an increase in our trading volume.

    Employee compensation and benefits expenses were US$37.2 million, an increase of 40.5% from US$26.5 million in the same quarter of last year, primarily due to an increase of global headcount to support our global expansion.

    Occupancy, depreciation and amortization expenses were US$2.1 million, a slight decrease of 2.4% from US$2.2 million in the same quarter of last year.

    Communication and market data expenses were US$11.8 million, an increase of 38.2% from US$8.5 million in the same quarter of last year due to increased IT-related fees.

    Marketing and branding expenses were US$9.5 million, an increase of 64.2% from US$5.8 million in the same quarter of last year, primarily due to higher marketing spending this quarter.

    General and administrative expenses were US$6.4 million, a decrease of 11.8% from US$7.3 million in the same quarter of last year due to a decrease in professional service fees.

    NET LOSS/INCOME ATTRIBUTABLE TO ORDINARY SHAREHOLDERS OF UP FINTECH

    Net income attributable to ordinary shareholders of UP Fintech was US$28.1 million, as compared to a net loss of US$1.8 million in the same quarter of last year. Net income per ADS – diluted was US$0.158, as compared to a net loss per ADS – diluted of US$0.012 in the same quarter of last year.

    Non-GAAP net income attributable to ordinary shareholders of UP Fintech, which excludes share-based compensation, was US$30.5 million, as compared to a US$1.1 million non-GAAP net income attributable to ordinary shareholders of UP Fintech in the same quarter of last year. Non-GAAP net income per ADS – diluted was US$0.172 as compared to a non-GAAP net income per ADS – diluted of US$0.007 in the same quarter of last year.

    For the fourth quarter of 2024, the Company’s weighted average number of ADSs used in calculating non-GAAP net income per ADS – diluted was 179,173,811. As of December 31, 2024, the Company had a total of 2,640,326,072 Class A and B ordinary shares outstanding, or the equivalent of 176,021,738 ADSs.

    Full Year 2024 Financial Results

    REVENUES

    Total revenues were US$391.5 million, an increase of 43.7% from US$272.5 million in 2023.

    Commissions were US$159.0 million, an increase of 71.8% from US$92.6 million in 2023, due to an increase in trading volume.

    Financing service fees were US$11.3 million, a decrease of 7.1% from US$12.2 million in 2023, primarily due to a decrease in securities lending activities of our fully disclosed account customers.

    Interest income was US$191.8 million, an increase of 28.4% from US$149.3 million in 2023, primarily due to the increase in margin financing and securities lending activities of our consolidated account customers.

    Other revenues were US$29.4 million, an increase of 59.6% from US$18.4 million in 2023, primarily due to the increase in IPO subscription incomes and currency exchange incomes.

    Interest expense was US$60.8 million, an increase of 29.5% from US$47.0 million in 2023, primarily due to the increase in margin financing and securities lending activities.

    OPERATING COSTS AND EXPENSES

    Total operating costs and expenses were US$252.3 million, an increase of 30.9% from US$192.7 million in 2023.

    Execution and clearing expenses were US$14.7 million, an increase of 61.3% from US$9.1 million in 2023 due to an increase in our trading volume.

    Employee compensation and benefits expenses were US$122.4 million, an increase of 21.5% from US$100.8 million in 2023, primarily due to an increase of global headcount to support our global expansion.

    Occupancy, depreciation and amortization expenses were US$8.6 million, a decrease of 8.9% from US$9.4 million in 2023.

    Communication and market data expenses were US$38.9 million, an increase of 26.1% from US$30.8 million in 2023 due to increased IT-related fees.

    Marketing and branding expenses were US$28.5 million, an increase of 36.8% from US$20.9 million in 2023, primarily due to higher marketing spending this year.

    General and administrative expenses were US$39.3 million, an increase of 80.2% from US$21.8 million in 2023 due to an increase in bad debt expense.

    NET INCOME ATTRIBUTABLE TO ORDINARY SHAREHOLDERS OF UP FINTECH

    Net income attributable to ordinary shareholders of UP Fintech was US$60.7 million, as compared to a net income of US$32.6 million in 2023. Net income per ADS – diluted was US$0.366, as compared to a net income per ADS – diluted of US$0.207 in 2023.

    Non-GAAP net income attributable to ordinary shareholders of UP Fintech, which excludes share-based compensation, was US$70.5 million, as compared to a US$42.7 million non-GAAP net income attributable to ordinary shareholders of UP Fintech in 2023. Non-GAAP net income per ADS – diluted was US$0.424 as compared to a non-GAAP net income per ADS – diluted of US$0.270 in 2023.

    CERTAIN OTHER FINANCIAL ITEMS

    As of December 31, 2024, the Company’s cash and cash equivalents, term deposits and long-term deposits were US$396.0 million, compared to US$327.7 million as of December 31, 2023.

    As of December 31, 2024, the allowance balance of receivables from customers was US$15.3 million compared to US$1.0 million as of December 31, 2023, which was due to a bad debt provision concerning the recoverability of a specific Hong Kong stock pledge business faced with extreme market situation and significant price drop, leading to a provision for the loan balance.

    Conference Call Information:

    UP Fintech’s management will hold an earnings conference call at 8:00 AM on March 18, 2025, U.S. Eastern Time (8:00 PM on March 18, 2025, Singapore/Hong Kong Time).

    All participants wishing to attend the call must preregister online before they may receive the dial-in numbers. Preregistration may require a few minutes to complete.

    Preregistration Information:

    Please note that all participants will need to pre-register for the conference call, using the link:

    https://register-conf.media-server.com/register/BId5c2bd4696d14e7ba2bc391b87ede751

    It will automatically lead to the registration page of “UP Fintech Holding Limited Fourth Quarter And Full Year 2024 Earnings Conference Call”, where details for RSVP are needed.

    Upon registering, all participants will be provided in confirmation emails with participant dial-in numbers and personal PINs to access the conference call. Please dial in 10 minutes prior to the call start time using the conference access information.

    Additionally, a live and archived webcast of the conference call will be available at https://ir.itigerup.com

    Use of Non-GAAP Financial Measures

    In evaluating our business, we consider and use non-GAAP net loss or income attributable to ordinary shareholders of UP Fintech and non-GAAP net loss or income per ADS – diluted as supplemental measures to review and assess our operating performance. The presentation of the non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with the United States Generally Accepted Accounting Principles (“U.S. GAAP”). We define non-GAAP net loss or income attributable to ordinary shareholders of UP Fintech as net loss or income attributable to ordinary shareholders of UP Fintech excluding share-based compensation. Non-GAAP net loss or income per ADS – diluted is non-GAAP net loss or income attributable to ordinary shareholders of UP Fintech divided by the weighted average number of diluted ADSs.

    We present these non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. Non-GAAP net loss or income attributable to ordinary shareholders of UP Fintech enables our management to assess our operating results without considering the impact of share-based compensation. We also believe that the use of these non-GAAP financial measures facilitates investors’ assessment of our operating performance.

    These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as an analytical tool. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expenses that affect our operations. Share-based compensation has been and may continue to be incurred in our business and are not reflected in the presentation of non-GAAP net loss or income attributable to ordinary shareholders of UP Fintech. Further, these non-GAAP financial measures may differ from the non-GAAP financial information used by other companies, including peer companies, and therefore their comparability may be limited.

    These non-GAAP financial measures should not be considered in isolation or construed as alternatives to total operating costs and expenses, net loss or income attributable to ordinary shareholders of UP Fintech or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to review these historical non-GAAP financial measures in light of the most directly comparable GAAP measures. These non-GAAP financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting the usefulness of such measures when analyzing our data comparatively. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.

    About UP Fintech Holding Limited

    UP Fintech Holding Limited is a leading online brokerage firm focusing on global investors. The Company’s proprietary mobile and online trading platform enables investors to trade in equities and other financial instruments on multiple exchanges around the world. The Company offers innovative products and services as well as a superior user experience to customers through its “mobile first” strategy, which enables it to better serve and retain current customers as well as attract new ones. The Company offers customers comprehensive brokerage and value-added services, including trade order placement and execution, margin financing, IPO subscription, ESOP management, investor education, community discussion and customer support. The Company’s proprietary infrastructure and advanced technology are able to support trades across multiple currencies, multiple markets, multiple products, multiple execution venues and multiple clearinghouses.

    For more information on the Company, please visit: https://ir.itigerup.com.

    Safe Harbor Statement

    This announcement contains forward−looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward−looking statements can be identified by terminology such as “may,” “might,” “aim,” “likely to,” “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements or expressions. Among other statements, the business outlook and quotations from management in this announcement, the Company’s strategic and operational plans and expectations regarding growth and expansion of its business lines, and the Company’s plans for future financing of its business contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties, including the earnings conference call. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward−looking statements. Forward−looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s ability to effectively implement its growth strategies; trends and competition in global financial markets; changes in the Company’s revenues and certain cost or expense accounting policies; and governmental policies and regulations affecting the Company’s industry and general economic conditions in China, Singapore and other countries. Further information regarding these and other risks is included in the Company’s filings with the SEC, including the Company’s annual report on Form 20-F filed with the SEC on April 22, 2024. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. Further information regarding these and other risks is included in the Company’s filings with the SEC.

    For investor and media inquiries please contact:

    Investor Relations Contact

    UP Fintech Holding Limited

    Email: ir@itiger.com

    UP FINTECH HOLDING LIMITED
    UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
    (All amounts in U.S. dollars (“US$”))

        As of
    December 31,
        As of
    December 31,
     
        2023     2024  
        US$     US$  
    Assets:            
    Cash and cash equivalents   322,599,616     393,576,874  
    Cash-segregated for regulatory purpose   1,617,154,185     2,464,683,625  
    Term deposits   896,683     1,075,260  
    Receivables from customers (net of allowance of US$991,286 and
       US$15,284,002 as of December 31, 2023 and December 31, 2024)
      753,361,199     1,052,972,649  
    Receivables from brokers, dealers, and clearing organizations   541,876,929     2,305,740,507  
    Financial instruments held, at fair value   428,159,554     75,547,082  
    Prepaid expenses and other current assets   17,936,180     17,629,819  
    Amounts due from related parties   7,987,756     16,720,671  
    Total current assets   3,689,972,102     6,327,946,487  
    Non-current assets:            
    Long-term deposits   4,225,412     1,369,994  
    Right-of-use assets   9,067,885     10,880,673  
    Property, equipment and intangible assets, net   16,429,543     15,358,528  
    Goodwill   2,492,668     2,492,668  
    Long-term investments   7,586,483     7,658,809  
    Equity method investment       10,203,622  
    Other non-current assets   5,282,012     6,828,553  
    Deferred tax assets   10,990,998     8,573,135  
    Total non-current assets   56,075,001     63,365,982  
    Total assets   3,746,047,103     6,391,312,469  
    Current liabilities:            
    Payables to customers   2,913,306,558     3,574,651,125  
    Payables to brokers, dealers and clearing organizations   114,771,931     1,914,769,701  
    Accrued expenses and other current liabilities   42,381,946     67,263,254  
    Deferred income-current   819,809      
    Lease liabilities-current   4,133,883     4,153,928  
    Amounts due to related parties   10,148,142     874,331  
    Total current liabilities   3,085,562,269     5,561,712,339  
    Convertible bonds   156,887,691     159,505,397  
    Lease liabilities-non-current   4,777,134     5,902,323  
    Deferred tax liabilities   3,397,831     2,068,661  
    Total liabilities   3,250,624,925     5,729,188,720  
    Mezzanine equity            
    Redeemable non-controlling interest   6,706,660     7,177,668  
    Total Mezzanine equity   6,706,660     7,177,668  
    Shareholders’ equity:            
    Class A ordinary shares   22,528     25,427  
    Class B ordinary shares   976     976  
    Additional paid-in capital   505,448,080     619,030,730  
    Statutory reserve   8,511,039     12,425,463  
    (Accumulated deficit) Retained earnings   (19,600,434 )   37,843,547  
    Treasury Stock   (2,172,819 )   (2,172,819 )
    Accumulated other comprehensive loss   (3,232,993 )   (11,919,310 )
    Total UP Fintech shareholders’ equity   488,976,377     655,234,014  
    Non-controlling interests   (260,859 )   (287,933 )
    Total equity   488,715,518     654,946,081  
    Total liabilities, mezzanine equity and equity   3,746,047,103     6,391,312,469  
    UP FINTECH HOLDING LIMITED
    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)
    (All amounts in U.S. dollars (“US$”), except for number of shares (or ADSs) and per share (or ADS) data)
     
        For the three months ended     For the years ended  
        December 31,     September 30,     December 31,     December 31,     December 31,  
        2023     2024     2024     2023     2024  
        US$     US$     US$     US$     US$  
    Revenues:                              
    Commissions   21,954,587     41,207,882     55,964,174     92,593,458     159,045,052  
    Interest related income                              
    Financing service fees   3,174,949     2,803,878     2,770,419     12,178,838     11,311,560  
    Interest income   39,956,315     47,957,486     55,762,091     149,291,006     191,754,746  
    Other revenues   4,895,109     9,084,834     9,605,165     18,444,293     29,430,071  
    Total revenues   69,980,960     101,054,080     124,101,849     272,507,595     391,541,429  
    Interest expense   (15,995,738 )   (15,700,359 )   (16,731,341 )   (46,957,657 )   (60,803,516 )
    Total Net Revenues   53,985,222     85,353,721     107,370,508     225,549,938     330,737,913  
    Operating costs and expenses:                              
    Execution and clearing   (2,244,785 )   (3,518,611 )   (6,095,132 )   (9,084,089 )   (14,651,612 )
    Employee compensation and benefits   (26,458,931 )   (28,769,980 )   (37,163,110 )   (100,750,644 )   (122,365,537 )
    Occupancy, depreciation and amortization   (2,190,610 )   (2,162,704 )   (2,137,586 )   (9,387,056 )   (8,554,315 )
    Communication and market data   (8,532,128 )   (9,730,680 )   (11,787,814 )   (30,831,488 )   (38,893,381 )
    Marketing and branding   (5,790,739 )   (8,223,404 )   (9,507,918 )   (20,859,834 )   (28,530,053 )
    General and administrative   (7,293,530 )   (6,932,672 )   (6,432,737 )   (21,791,263 )   (39,278,674 )
    Total operating costs and expenses   (52,510,723 )   (59,338,051 )   (73,124,297 )   (192,704,374 )   (252,273,572 )
    Other (loss) income:                              
    Others, net   (1,664,053 )   (5,189,945 )   3,469,021     13,148,173     3,299,308  
     (Loss) income before income tax   (189,554 )   20,825,725     37,715,232     45,993,737     81,763,649  
    Income tax expenses   (1,498,639 )   (2,907,080 )   (9,488,084 )   (12,986,310 )   (20,409,721 )
    Net (loss) income   (1,688,193 )   17,918,645     28,227,148     33,007,427     61,353,928  
    Less: net (loss) income attributable to non-controlling interests   (1,293 )   3,353     12,563     (98,285 )   (4,477 )
    Accretion of redeemable non-controlling interests to redemption value   (148,624 )   (160,998 )   (164,328 )   (542,187 )   (630,485 )
    Net (loss) income attributable to ordinary shareholders of UP Fintech   (1,835,524 )   17,754,294     28,050,257     32,563,525     60,727,920  
    Other comprehensive income (loss), net of tax:                              
    Unrealized loss on available-for-sale investments   (450,325 )       343,892     (450,325 )   343,892  
    Changes in cumulative foreign currency translation adjustment   7,261,631     16,119,046     (17,440,809 )   (545,498 )   (9,022,611 )
    Total Comprehensive income (loss)   5,123,113     34,037,691     11,130,231     32,011,604     52,675,209  
    Less: comprehensive (loss) income attributable to non-controlling interests   (8,222 )   (7,023 )   24,226     (92,526 )   3,121  
    Accretion of redeemable non-controlling interests to redemption value   (148,624 )   (160,998 )   (164,328 )   (542,187 )   (630,485 )
    Total Comprehensive income attributable to ordinary shareholders of UP Fintech   4,982,711     33,883,716     10,941,677     31,561,943     52,041,603  
    Net (loss) income per ordinary share:                              
    Basic   (0.001 )   0.008     0.011     0.014     0.025  
    Diluted   (0.001 )   0.007     0.011     0.014     0.024  
    Net (loss) income per ADS (1 ADS represents 15 Class A ordinary shares):                              
    Basic   (0.012 )   0.113     0.164     0.210     0.379  
    Diluted   (0.012 )   0.110     0.158     0.207     0.366  
    Weighted average number of ordinary shares used in calculating net (loss) income per ordinary share:                              
    Basic   2,336,018,747     2,362,528,627     2,557,911,677     2,325,338,439     2,404,640,854  
    Diluted   2,336,018,747     2,467,241,917     2,687,607,158     2,427,268,831     2,534,097,315  
    Reconciliations of Unaudited Non-GAAP Results of Operations Measures to the Nearest Comparable GAAP Measures
    (All amounts in U.S. dollars (“US$”), except for number of ADSs and per ADS data)


        For the three months ended December 31,
    2023
      For the three months ended September 30,
    2024
      For the three months ended December 31,
    2024
              non-GAAP           non-GAAP           non-GAAP    
        GAAP     Adjustment   non-GAAP   GAAP   Adjustment   non-GAAP   GAAP   Adjustment   non-GAAP
        US$     US$   US$   US$   US$   US$   US$   US$   US$
        Unaudited     Unaudited   Unaudited   Unaudited   Unaudited   Unaudited   Unaudited   Unaudited   Unaudited
              2,896,312 (1)         2,331,274 (1)         2,421,342 (1)  
    Net (loss) income attributable   to ordinary shareholders of UP Fintech   (1,835,524 )   2,896,312   1,060,788   17,754,294   2,331,274   20,085,568   28,050,257   2,421,342   30,471,599
                                           
    Net (loss) income per ADS –  diluted   (0.012 )       0.007   0.110       0.124   0.158       0.172
    Weighted average number of ADSs used in calculating diluted net (loss) income per ADS   155,734,583         157,931,785   164,482,794       164,482,794   179,173,811       179,173,811

    (1) Share-based compensation.

    Reconciliations of Unaudited Non-GAAP Results of Operations Measures to the Nearest Comparable GAAP Measures
    (All amounts in U.S. dollars (“US$”), except for number of ADSs and per ADS data)


        For the year ended December 31,
    2023
      For the year ended December 31,
    2024
            non-GAAP           non-GAAP    
        GAAP   Adjustment   non-GAAP   GAAP   Adjustment   non-GAAP
        US$   US$   US$   US$   US$   US$
        Unaudited   Unaudited   Unaudited   Unaudited   Unaudited   Unaudited
            10,147,362 (1)         9,736,901 (1)  
    Net income attributable to ordinary shareholders of UP Fintech   32,563,525   10,147,362   42,710,887   60,727,920   9,736,901   70,464,821
                             
    Net income per ADS – diluted   0.207       0.270   0.366       0.424
    Weighted average number of ADSs used in calculating diluted net income per ADS   161,817,922       162,607,678   168,939,821       168,939,821

    (1) Share-based compensation.

    The MIL Network

  • MIL-OSI: Rhombus Launches Relay: The New Plug-and-Play Cloud Connector Instantly Modernizes Organizations’ Existing Security Cameras

    Source: GlobeNewswire (MIL-OSI)

    SACRAMENTO, Calif., March 18, 2025 (GLOBE NEWSWIRE) — Rhombus, a leader in cloud-managed physical security solutions, today announced the launch of Rhombus Relay, a new suite of solutions that enable organizations to transform existing camera infrastructure into intelligent, cloud-connected devices that deliver immediate value. Rhombus Relay establishes a bridge between legacy systems and modern cloud-based physical security, allowing businesses to innovate at their own terms while protecting their existing investments.

    The physical security landscape has long been challenged by siloed systems, failing hardware, and complex migrations that often lock organizations into proprietary ecosystems. Rhombus Relay addresses these pain points with two flexible new options: Relay Core and Relay Lite.

    “Adopting new technology for security should be effortless, without compromising safety,” said Garrett Larsson, CEO and co-founder of Rhombus. “That has been Rhombus’ guiding principle since we launched nearly a decade ago, and it is core to why we developed Relay. Our new solution instantly removes the barriers that force organizations to choose between their existing camera investments and modern cloud capabilities. Today’s launch represents a significant milestone in our mission to make the advantages of cloud-managed physical security accessible to all organizations, regardless of where they are in their security technology journey.”

    A Flexible Onramp to a Cloud-Managed Platform

    Rhombus Relay offers two innovative and practical paths for migrating existing cameras to Rhombus’ unified platform:

    1. Relay Core N100 is a plug-and-play, on-premise device supporting up to ten third-party cameras with no added licensing cost for video streaming. The solution transforms existing cameras into smart cameras with AI analytics, empowering organizations with the advantages of cloud-managed security without ripping and replacing their entire camera system. For larger deployments, Rhombus has also announced that Relay Core N500, supporting up to 50 cameras, will also be available soon.
    2. Complementing the Core offering, Relay Lite is a zero-cost alternative that allows organizations to connect—and begin cloud managing—one legacy third-party camera for every Rhombus camera they already operate. This first-of-its-kind approach to integrating existing cameras is ideal for organizations with mixed hardware environments who want to unify specialized third-party cameras with their Rhombus deployment. Unlike other solutions that require wholesale security infrastructure replacement, Relay Lite offers a frictionless entry point to begin the cloud migration journey.

    A Platform Built to Protect and Designed to Adapt

    Relay is part of Rhombus’ broader cloud-managed platform, which is developed for protecting organizations’ people, assets, and data while also offering full interoperability and flexibility. Key features of Rhombus’ platform include:

    Truly open platform

    • Full interoperability with existing hardware and technology stacks
    • Unified visibility through a single pane of glass for all physical security
    • An extensible platform with 50+ integrations and open API capabilities

    Seamless deployment

    • Easy scalability to grow alongside organizational needs
    • Flexible deployment options to match specific business requirements

    Secure by default

    • Enterprise-grade security with end-to-end encryption and SOC 2 compliance
    • Zero-trust architecture that ensures legacy devices will not compromise security posture

    “Technology should just work,” said Brandon Salzberg, Vice President of Engineering at Rhombus. “With Relay, we’re simplifying legacy technology in a way that it never has before, while at the same time providing a flexible pathway for organizations to modernize their physical security technology stack at their own pace.”

    Availability and Pricing

    Rhombus Relay Core N100 and Relay Lite will be available in Early Access for select customers on April 8, 2025. Relay Core has an MSRP of $1,999 with no additional licensing costs for video streaming. Optional cloud licenses are available based on the level of AI analytics, including license plate recognition, facial recognition, color search, and visitor counting. Relay Lite is available at no additional cost to existing Rhombus customers. The company also announced that Relay Core N500—an expanded version supporting up to 50 cameras—will also be available soon.

    Learn more about Relay Core and Relay Lite.

    About Rhombus

    Rhombus is an open, cloud-managed physical security platform that brings security cameras, access control, sensors, alarm monitoring, and integrations together under a single pane of glass. Thousands of organizations trust Rhombus to drive operational excellence, improve safety, and streamline workflows through a comprehensive suite of smart security solutions and 50+ integrations with leading business systems. Rhombus is backed by NightDragon, Bluestone Equity Partners, Cota Capital, Caden Capital, Tru Arrow Partners, and Uncorrelated Ventures, and is on a mission to make the world safer with simple, smart, and powerful physical security solutions.

    To learn more about how Rhombus Relay can accelerate your organization’s path to cloud-managed physical security, visit www.rhombus.com or book a demo.

    Contact:
    Kyle Peterson
    kyle@clementpeterson.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9405ccaa-089f-4b72-9477-1998ac8bedcb

    The MIL Network

  • MIL-OSI Asia-Pac: President Lai meets Japan-ROC Diet Members’ Consultative Council Chairman Furuya Keiji

    Source: Republic of China Taiwan

    Details
    2025-03-17
    President Lai addresses opening of 2025 Yushan Forum
    On the morning of March 17, President Lai Ching-te attended the opening of the 2025 Yushan Forum, the theme of which was “New Southbound Policy+: Taiwan, the Indo-Pacific, and a New World.” In remarks, President Lai stated that the New Southbound Policy has led to great success in economic and trade cooperation, professional exchanges, resource sharing, and building regional links. He said that in the past, Taiwanese industries went from moving westward across the Taiwan Strait, to shifting southbound, to working closer with the north, but that now, Taiwan is confidently stepping across the Pacific, reaching eastward, to the Americas and other regions. While staying firmly rooted in Taiwan, he said, Taiwan’s enterprises are expanding their global presence and marketing worldwide. The president stated that Taiwan will strive alongside its partners in democracy to bolster non-red supply chains and digital solidarity, and together respond to the threats and challenges posed by expanding authoritarianism. He indicated that the Yushan Forum is a place to share experiences, and more importantly, lay down firm foundations for exchanges and cooperation among participants’ countries to create greater stability for the region and greater prosperity for the world. A transcript of President Lai’s remarks follows: On behalf of all the people of Taiwan, I want to welcome our good friends joining us from around the world. Your presence shows support for a peaceful and stable Taiwan and a free and open Indo-Pacific region. The Yushan Forum has become more than just an important platform for the New Southbound Policy. Over these eight years, more than 3,600 participants from Taiwan and 28 other countries have helped deepen Taiwan’s connections with nations around the world. The New Southbound Policy has led to great success in economic and trade cooperation, professional exchanges, resource sharing, and building regional links. Looking ahead, the Yushan Forum will be taking on the important mission of carrying its legacy forward and transforming it into action. Not only must we turn consensus into action plans for close cooperation among countries in the region; we must also work with partners around the world to forge ahead with cooperative plans for mutual prosperity. We hope to envision a new world from Taiwan – and see Taiwan in this new world. We are also embracing an era of smart technology. The government sessions of this Yushan Forum are therefore centered around topics including smart healthcare, smart transportation, and resilient supply chains for semiconductors. Taiwan is intent on working side by side with other countries to face the challenges of this new era. Today’s Taiwan celebrates not only the democratic achievements that are recognized by the international community, but also our strengths in the semiconductor and other tech industries, which enable us to play a key role in restructuring global democratic supply chains and the economic order. We are building on Taiwan as a “silicon island” for semiconductors while accelerating innovation and AI applications for industry. These efforts will help Taiwan become an “AI island” as well. We are also developing forward-looking fields such as quantum technology and precision medicine, which will create an industry ecosystem that is highly competitive and innovative. The government will also develop economic models powered by innovation. This will help SMEs (small- and medium-sized enterprises) upgrade and transform through the power of digital transformation and net-zero transition. In the past, Taiwanese industries went from moving westward across the Taiwan Strait, to shifting southbound, to working closer with the north. But now, we are confidently stepping across the Pacific, reaching eastward, to the Americas and other regions. While staying firmly rooted in Taiwan, our enterprises are expanding their global presence and marketing worldwide. Taiwan will continue to engage with the world, and we welcome the world to come closer to Taiwan. As we gather here today, I am confident that we share the same goal: Through international cooperation, we hope to build an even more inclusive, resilient, prosperous Indo-Pacific, while jointly defending the democracy, freedom, and peace we so firmly believe in. I want to thank you all once again for supporting Taiwan. We will strive alongside our partners in democracy to bolster non-red supply chains and digital solidarity, and together respond to the threats and challenges posed by expanding authoritarianism. Yushan is also known as Jade Mountain. It is Taiwan’s highest peak and stands as firm as our unwavering spirit. During this critical time of global change and transformation, the Yushan Forum is a place where we can share our experiences, and more importantly, lay down firm foundations for exchanges and cooperation among our countries. This way, we can create greater stability for the region and greater prosperity for the world. I wish everyone a successful forum. Thank you. Also in attendance at the event were former Prime Minister of Denmark and Alliance of Democracies Foundation Chairman Anders Fogh Rasmussen, former Prime Minister of the Republic of Slovenia Janez Janša, Japan-ROC Diet Members’ Consultative Council Chairman Furuya Keiji, and American Institute in Taiwan Taipei Office Director Raymond Greene.

    Details
    2025-03-13
    President Lai attends Ministry of Foreign Affairs 2025 Spring Banquet  
    On the evening of March 13, President Lai Ching-te attended the Ministry of Foreign Affairs 2025 Spring Banquet for foreign ambassadors and representatives stationed in Taiwan. In remarks, President Lai thanked our diplomatic allies and like-minded countries for continuing to demonstrate their high regard and support for Taiwan at international venues. The president stated that a stronger Taiwan will be able to contribute even more to the world, explaining that is why he established the National Climate Change Committee, the Whole-of-Society Defense Resilience Committee, and the Healthy Taiwan Promotion Committee. He added that he hopes to pool our strengths so as to formulate national development strategies and enhance Taiwan’s international collaboration. The president also expressed hope of developing opportunities for cooperation with other countries across many domains to jointly advance democracy, peace, and prosperity throughout the region and around the world. A translation of President Lai’s remarks follows: Today is my first time attending the Ministry of Foreign Affairs Spring Banquet since becoming president. It is a pleasure to be able to meet and socialize with esteemed guests from other countries and good friends from all sectors of Taiwan. The global landscape has changed rapidly over the past year. Geopolitical volatility, the restructuring of supply chains, technological advancements, and other factors have had a profound impact on nations’ strategic plans. I want to take this opportunity to thank our diplomatic allies and like-minded countries for continuing to demonstrate their high regard and support for Taiwan at international venues. Last month, the leaders of the United States and Japan, the US secretary of state and the foreign ministers of Japan and the Republic of Korea, and the G7 foreign ministers all issued joint statements emphasizing the importance of peace and stability across the Taiwan Strait, underscoring Taiwan’s vital role in global progress and prosperity.  I would especially like to thank members of the diplomatic corps for working with us to build even closer partnerships between our countries. I have always believed that a stronger Taiwan will be able to contribute even more to the world. That is why, after taking office, I established the National Climate Change Committee, the Whole-of-Society Defense Resilience Committee, and the Healthy Taiwan Promotion Committee under the Office of the President. These committees continue to address global concerns and seek to solve important issues that impact our own people. I hope to pool our strengths so as to formulate national development strategies and enhance Taiwan’s international collaboration.  Last year, I visited our Pacific allies – the Republic of the Marshall Islands, Tuvalu, and the Republic of Palau. I deeply appreciated our friends’ warm hospitality and came to feel very deeply that we are like a family. Through local visits and mutual exchanges, we deepened our diplomatic alliances and cooperation, creating win-win outcomes. We also showed Taiwan’s determination to work with allies to tackle the many challenges related to climate change, net-zero transition, and digital transformation. At the start of this month, Taiwan hosted the first-ever workshop on whole-of-society defense resilience under the Global Cooperation and Training Framework. Experts and scholars from 30 countries participated in the discussions. I once again thank the diplomatic corps for their support and assistance. In the future, we look forward to developing opportunities for cooperation with other countries across many domains to jointly advance democracy, peace, and prosperity throughout the region and around the world. In the face of authoritarian expansion, Taiwan will continue to bolster its national defense capabilities. We will stand shoulder to shoulder with fellow democracies to demonstrate the strength of deterrence. We will also join hands to build non-red supply chains, strengthen our economic resilience, and promote an initiative on semiconductor supply chain partnerships for global democracies. All of this will ensure steady technological and economic development.  In my New Year’s Day address, I said that in this new year, we have many more brilliant stories of Taiwan to share with the world. Everyone gathered here tonight is a dear friend of Taiwan. And each of you plays an important role in the stories this land has to tell.  I am deeply grateful to you all for the incredible efforts you make in support of Taiwan. In so many ways, you connect Taiwan to the rest of the world and allow the world to see the many different sides of this amazing nation. I believe that through even deeper and more extensive cooperation, we will create many more wonderful stories of Taiwan and build an even brighter future together. I wish you all a pleasant evening. Also in attendance at the event were Dean of the Diplomatic Corps and Saint Vincent and the Grenadines Ambassador Andrea Clare Bowman and other members of the foreign diplomatic corps in Taiwan.

    Details
    2025-03-04
    President Lai meets US Heritage Foundation founder Dr. Edwin Feulner
    On the afternoon of March 4, President Lai Ching-te met with a delegation led by founder of the US-based Heritage Foundation Dr. Edwin Feulner. In remarks President Lai thanked the foundation for publishing the 2025 Index of Economic Freedom, in which Taiwan ranked fourth globally and which recognized Taiwan’s sound legal foundation and ideal investment environment. The president said that Taiwan and the United States are important economic and trade partners and engage closely in industrial exchange. The president also expressed hope to expand investment in and procurement from the US in such areas as high-tech, energy, and agricultural products, and to work with the US and other democratic partners to create more resilient and diverse semiconductor supply chains to address new circumstances. A translation of President Lai’s remarks follows: It is a pleasure to welcome Dr. Feulner back to Taiwan today. I recall meeting with Dr. Feulner and Heritage Foundation President Kevin Roberts here at the Presidential Office at the end of last February. We had a fruitful discussion on Taiwan-US relations and regional affairs. When President Donald Trump was elected for his first term, Dr. Feulner played a crucial role in the administration’s transition team. Today, I look forward to hearing his thoughts on possible ways to further deepen relations between Taiwan and the US. I would like to thank the Heritage Foundation for publishing the 2025 Index of Economic Freedom, in which Taiwan ranked fourth globally. The report also recognized Taiwan’s sound legal foundation and ideal investment environment. Taiwan and the US are important economic and trade partners and engage closely in industrial exchange. The Taiwan Semiconductor Manufacturing Company’s (TSMC) historic US$65 billion investment in Arizona–negotiated and finalized during President Trump’s first term–is a case in point. And today, TSMC Chairman C.C. Wei (魏哲家) and President Trump jointly announced that the company would be expanding its investment in the US with new facilities. Looking ahead, we hope to expand investment in and procurement from the US in such areas as high-tech, energy, and agricultural products. We also look forward to working with the US and other democratic partners to create more resilient and diverse semiconductor supply chains to address new circumstances. At present, we continue to face authoritarian expansionism. As a country that deeply loves and staunchly defends freedom, Taiwan will collaborate with the US and other like-minded countries to maintain regional peace and stability. I would like to thank President Trump for his recent joint statement with Japanese Prime Minister Ishiba Shigeru, which emphasized the importance of maintaining peace and stability across the Taiwan Strait. And last month, the US was also part of a G7 foreign ministers’ statement in which “they strongly opposed any attempts to change unilaterally the status quo using force.” We firmly believe that only peace attained through one’s own strength can truly be called peace. Currently, Taiwan’s defense budget stands at approximately 2.5 percent of GDP. Going forward, the government will prioritize special budget allocations to ensure that Taiwan’s defense budget exceeds 3 percent of GDP. Also, we will continue to reform national defense in the conviction that help comes most to those who help themselves. This will allow us to contribute even more to regional peace and stability. In closing, I once again thank Dr. Feulner for visiting and for demonstrating support of Taiwan. I wish you all a smooth and successful trip. Dr. Feulner then delivered remarks, first stating that on behalf of his successor, President Roberts, and all of his colleagues at the Heritage Foundation, it is his pleasure to present President Lai with the first copy of the 2025 Index of Economic Freedom. Pointing out that in the Index the Republic of China (Taiwan) is number four of 176 countries around the world in terms of its economic freedom, Dr. Feulner extended his congratulations to President Lai.  Dr. Feulner said he looks forward to a discussion about the present situation and how we can improve relations between the US and Taiwan. Dr. Feulner expressed his gratitude on hearing the wonderful announcement from TSMC, which was released right before his visit, that it will be expanding its investment in the US. In past trips, he said, he has had the opportunity to visit the TSMC headquarters in Taiwan, and fairly recently he has had the opportunity to view the site in Arizona where the construction continues and where the initial operations are beginning. He stated that they are proud to have TSMC now as an integral part of our responsible bilateral relationship. Dr. Feulner noted that while TSMC is of course very big, he also wants to express appreciation for all of the hundreds and hundreds of Taiwan-based companies that are strong, close partners throughout the US with American companies and with American people in terms of making a close and unified alliance of two freedom-loving countries.

    Details
    2025-03-04
    President Lai attends opening ceremony of GCTF Workshop on Whole-of-Society Resilience Building, Preparation, and Response
    On the morning of March 4, President Lai Ching-te attended the opening ceremony of the Global Cooperation and Training Framework (GCTF) Workshop on Whole-of-Society Resilience Building, Preparation, and Response. In remarks, President Lai stated that global challenges such as extreme weather, pandemics, and energy crises continue to emerge, and growing authoritarianism presents a grave threat to freedom-loving countries. These challenges have no borders, he said, and absolutely no single country can face them alone. The president said that as a responsible member of the international community, Taiwan is both willing and able to contribute even more to the democracy, peace, and prosperity of the world, and that the GCTF is an important platform where Taiwan can make those contributions by sharing its experiences with the rest of the world. President Lai indicated that Taiwan will join the forces of the central and local governments to enhance social resilience across the board, enhance disaster response capabilities in the community, and leverage its strengths to make contributions to the international community. He said that we are demonstrating to the world our determination to create an even more resilient Taiwan, and expressed hope to advance mutual assistance and exchanges with all the countries involved, so that we can together promote stability and prosperity around the world. A transcript of President Lai’s remarks follows: To begin, I would like to welcome more than 60 distinguished guests from 30 countries, as well as experts from Taiwan. You are all here for this GCTF workshop to discuss whole-of-society resilience building, preparation, and response. As a responsible member of the international community, Taiwan is both willing and able to contribute even more to the democracy, peace, and prosperity of the world. The GCTF is an important platform where Taiwan can make those contributions by sharing its experiences with the rest of the world. I want to thank our full GCTF partners, the United States, Japan, Australia, and Canada. Over the past several years, we have worked with even more countries through this framework and have expanded our exchanges into even more fields. Together, we have met all kinds of new challenges. I am confident that as our cooperation grows stronger, so will our ability to promote global progress. Each of today’s guests is contributing a vital force in that regard. I extend my sincere thanks to you all. Global challenges such as extreme weather, pandemics, and energy crises continue to emerge. And growing authoritarianism presents a grave threat to freedom-loving countries. These challenges have no borders, and absolutely no single country can face them alone. Taiwan holds a key position on the first island chain, and stands at the very frontline of the defense of democracy. With this joint workshop, we are demonstrating to the world our determination to create an even more resilient Taiwan. We are also aiming to advance our mutual assistance and exchanges with all the countries involved, so that we can make our societies more resilient and together promote stability and prosperity around the world. Moving forward, we will continue advancing the following three initiatives: First, we will join the forces of the central and local governments to enhance social resilience across the board. Just last year, I established the Whole-of-Society Defense Resilience Committee at the Presidential Office. Civilian force training, strategic material preparation, and critical infrastructure operation and maintenance are all key discussion areas for our committee. These aim to enhance Taiwan’s resilience in national defense, economic livelihoods, disaster prevention, and democracy. They are also items on the agenda for this GCTF workshop. To cover all the bases, Taiwan must unite and cooperate as a team. Last year, our committee held the very first cross-sector tabletop exercise at the Presidential Office which included central and local government officials as well as civilian observers. We aim to test the government’s emergency response capabilities in high-intensity gray-zone operations and near-conflict situations. We will continue to hold exercises to help the central and local governments work together more efficiently, and strengthen Taiwan’s overall disaster response capabilities. Second is to enhance disaster response capabilities in the community. We fully understand that to build whole-of-society resilience, we must help people increase risk awareness, know how to respond to disasters, and develop abilities to help themselves, help one another, and work together. We are grateful to the American Institute in Taiwan (AIT) for collaborating with the Taiwan Development Association for Disaster Medical Teams to host “Take Action” workshops around the country since 2021. A 2.0 version is already in practice, and continues to train the public in first aid skills. Director of the AIT Taipei Office Raymond Greene and I took part in a Take Action event in New Taipei City last year and personally saw the positive outcomes of the training. In addition to the Take Action workshops, the government is also providing Disaster Relief Volunteer training for ages 11 to 89, and is continuing to expand its target audience. We have also set up Taiwan Community Emergency Response Teams at key facilities nationwide, enhancing the ability of these important facilities to respond independently to disasters. Civilian training will continue to be refined and expanded so that members of the public can serve as important partners in government-led disaster prevention and relief. Third, we will leverage Taiwan’s strengths to make contributions to the international community. The inspiration for our Disaster Relief Volunteer training comes from a similar program run by The Nippon Care-Fit Education Institute in Japan. I am confident that through exchanges like this workshop, Taiwan and other countries can also inspire one another in many areas, and enhance whole-of-society resilience in multiple ways. Taiwan also excels in information and communications and advanced technology. We will set up even more robust cybersecurity systems, expand usage of emerging technologies, and improve the ways we maintain domestic security. We hope that by leveraging our capabilities and sharing our experiences, Taiwan can contribute even more to the international community. I want to welcome all our partners once again, and thank AIT for co-hosting this event. Let’s continue down the path of advancing global security and developing resilience together. Because together, we can travel farther, and we can travel longer. Also in attendance at the event were Japan-Taiwan Exchange Association Deputy Representative Takaba Yo, Australian Office in Taipei Representative Robert Fergusson, and Canadian Trade Office in Taipei Executive Director Jim Nickel.

    Details
    2025-02-24
    President Lai meets Japanese House of Representatives Member Tamaki Yuichiro
    On the afternoon of February 24, President Lai Ching-te met with Japanese House of Representatives Member Tamaki Yuichiro. In remarks, President Lai noted that Taiwan and Japan are important trading partners. The president expressed hope that, in addition to semiconductors, Taiwan and Japan can also bolster cooperation in the fields of hydrogen energy and drones and build non-red supply chains, thus creating economic win-win situations and maintaining peace and stability in the Indo-Pacific region and globally. A translation of President Lai’s remarks follows: I would like to start by warmly welcoming Representative Tamaki on his first trip to Taiwan. Now is a key moment for the cooperative ties between Taiwan and Japan, and the fact that Representative Tamaki has chosen to take time out of his busy schedule to make this trip demonstrates his especially meaningful support for Taiwan. For this I want to express my deepest gratitude. At the beginning of this month, Japan and the United States held a summit meeting. In the post-summit joint leaders’ statement the government of Japan reiterated the importance of maintaining peace and stability across the Taiwan Strait, opposed any attempts to unilaterally change the status quo by force or coercion, and expressed support for Taiwan’s meaningful participation in international organizations. I would like to thank the government of Japan for these statements. Taiwan and Japan are both responsible members of the international community. I welcome an even firmer friendship between Japan and the US and hope to see cooperation among Taiwan, Japan, and the US become a solid force in consolidating peace and stability in the Indo-Pacific region. In addition to complex international conditions, we now also face the threat of China’s red supply chain. More and more countries are becoming increasingly concerned about such issues as economic security and supply chain resilience. As authoritarianism consolidates, democratic nations must also come closer in solidarity. Taiwan and Japan are important trading partners. I hope that, in addition to semiconductors, Taiwan and Japan can also bolster cooperation in the fields of hydrogen energy and drones, and that we can build non-red supply chains, thus creating economic win-win situations and maintaining peace and stability in the Indo-Pacific region and globally. Lastly, I would like once again to welcome Representative Tamaki to Taiwan and wish him a successful visit. I hope he departs Taiwan with a deep impression and that he will visit again. Representative Tamaki then delivered remarks, noting that this was his first visit to Taiwan and thanking President Lai and officials of the Taiwan government for their warm welcome. Pointing out that Taiwan-Japan ties are closer than ever thanks to the major efforts made on this front by President Lai since taking office, Representative Tamaki expressed his admiration and gratitude. Representative Tamaki pointed out that in a changing global landscape, Taiwan, Japan, and the Indo-Pacific region all face major changes, but he firmly believes that Taiwan-Japan relations will develop even further. Recalling President Lai’s previous remarks, the representative said that Japan and the US recently held a summit meeting that yielded important results. In the joint leaders’ statement, he noted, the two sides made a clear commitment regarding peace and stability across the Taiwan Strait and firmly opposed any attempts to unilaterally change the status quo by force or coercion. Representative Tamaki said that the ruling Liberal Democratic Party and the Komeito did not win a majority in last year’s House of Representatives general elections, while the number of seats held by his own Democratic Party for the People quadrupled. This result, he said, has filled him with a feeling of great responsibility. Moving forward, he intends to continue promoting Taiwan-Japan cooperation and strengthening relations. Also in attendance at the meeting was Japan-Taiwan Exchange Association Taipei Office Chief Representative Katayama Kazuyuki.

    Details
    2025-03-13
    President Lai holds press conference following high-level national security meeting
    On the afternoon of March 13, President Lai Ching-te convened a high-level national security meeting, following which he held a press conference. In remarks, President Lai introduced 17 major strategies to respond to five major national security and united front threats Taiwan now faces: China’s threat to national sovereignty, its threats from infiltration and espionage activities targeting Taiwan’s military, its threats aimed at obscuring the national identity of the people of Taiwan, its threats from united front infiltration into Taiwanese society through cross-strait exchanges, and its threats from using “integrated development” to attract Taiwanese businesspeople and youth. President Lai emphasized that in the face of increasingly severe threats, the government will not stop doing its utmost to ensure that our national sovereignty is not infringed upon, and expressed hope that all citizens unite in solidarity to resist being divided. The president also expressed hope that citizens work together to increase media literacy, organize and participate in civic education activities, promptly expose concerted united front efforts, and refuse to participate in any activities that sacrifice national interests. As long as every citizen plays their part toward our nation’s goals for prosperity and security, he said, and as long as we work together, nothing can defeat us. A translation of President Lai’s remarks follows: At many venues recently, a number of citizens have expressed similar concerns to me. They have noticed cases in which members of the military, both active-duty and retired, have been bought out by China, sold intelligence, or even organized armed forces with plans to harm their own nation and its citizens. They have noticed cases in which entertainers willingly followed instructions from Beijing to claim that their country is not a country, all for the sake of personal career interests. They have noticed how messaging used by Chinese state media to stir up internal opposition in Taiwan is always quickly spread by specific channels. There have even been individuals making careers out of helping Chinese state media record united front content, spreading a message that democracy is useless and promoting skepticism toward the United States and the military to sow division and opposition. Many people worry that our country, as well as our hard-won freedom and democracy and the prosperity and progress we achieved together, are being washed away bit by bit due to these united front tactics. In an analysis of China’s united front, renowned strategic scholar Kerry K. Gershaneck expressed that China plans to divide and conquer us through subversion, infiltration, and acquisition of media, and by launching media warfare, psychological warfare, and legal warfare. What they are trying to do is to sow seeds of discord in our society, keep us occupied with internal conflicts, and cause us to ignore the real threat from outside. China’s ambition over the past several decades to annex Taiwan and stamp out the Republic of China has not changed for even a day. It continues to pursue political and military intimidation, and its united front infiltration of Taiwan’s society grows ever more serious. In 2005, China promulgated its so-called “Anti-Secession Law,” which makes using military force to annex Taiwan a national undertaking. Last June, China issued a 22-point set of “guidelines for punishing Taiwan independence separatists,” which regards all those who do not accept that “Taiwan is part of the People’s Republic of China” as targets for punishment, creating excuses to harm the people of Taiwan. China has also recently been distorting United Nations General Assembly Resolution 2758, showing in all aspects China’s increasingly urgent threat against Taiwan’s sovereignty. Lately, China has been taking advantage of democratic Taiwan’s freedom, diversity, and openness to recruit gangs, the media, commentators, political parties, and even active-duty and retired members of the armed forces and police to carry out actions to divide, destroy, and subvert us from within. A report from the National Security Bureau indicates that 64 persons were charged last year with suspicion of spying for China, which was three times the number of persons charged for the same offense in 2021. Among them, the Unionist Party, Rehabilitation Alliance Party, and Republic of China Taiwan Military Government formed treasonous organizations to deploy armed forces for China. In a democratic and free society, such cases are appalling. But this is something that actually exists within Taiwan’s society today. China also actively plots ways to infiltrate and spy on our military. Last year, 28 active-duty and 15 retired members of the armed forces were charged with suspicion of involvement in spying for China, respectively comprising 43 percent and 23 percent of all of such cases – 66 percent in total. We are also alert to the fact that China has recently used widespread issuance of Chinese passports to entice Taiwanese citizens to apply for the Residence Permit for Taiwan Residents, permanent residency, or the Resident Identity Card, in an attempt to muddle Taiwanese people’s sense of national identity. China also views cross-strait exchanges as a channel for its united front against Taiwan, marking enemies in Taiwan internally, creating internal divisions, and weakening our sense of who the enemy really is. It intends to weaken public authority and create the illusion that China is “governing” Taiwan, thereby expanding its influence within Taiwan. We are also aware that China has continued to expand its strategy of integrated development with Taiwan. It employs various methods to demand and coerce Taiwanese businesses to increase their investments in China, entice Taiwanese youth to develop their careers in China, and unscrupulously seeks to poach Taiwan’s talent and steal key technologies. Such methods impact our economic security and greatly increase the risk of our young people heading to China. By its actions, China already satisfies the definition of a “foreign hostile force” as provided in the Anti-Infiltration Act. We have no choice but to take even more proactive measures, which is my purpose in convening this high-level national security meeting today. It is time we adopt proper preventive measures, enhance our democratic resilience and national security, and protect our cherished free and democratic way of life. Next, I will be giving a detailed account of the five major national security and united front threats Taiwan now faces and the 17 major strategies we have prepared in response. I. Responding to China’s threats to our national sovereignty We have a nation insofar as we have sovereignty, and we have the Republic of China insofar as we have Taiwan. Just as I said during my inaugural address last May, and in my National Day address last October: The moment when Taiwan’s first democratically elected president took the oath of office in 1996 sent a message to the international community, that Taiwan is a sovereign, independent, democratic nation. Among people here and in the international community, some call this land the Republic of China, some call it Taiwan, and some, the Republic of China Taiwan. The Republic of China and the People’s Republic of China are not subordinate to each other, and Taiwan resists any annexation or encroachment upon our sovereignty. The future of the Republic of China Taiwan must be decided by its 23 million people. This is the status quo that we must maintain. The broadest consensus in Taiwanese society is that we must defend our sovereignty, uphold our free and democratic way of life, and resolutely oppose annexation of Taiwan by China. (1) I request that the National Security Council (NSC), the Ministry of National Defense (MND), and the administrative team do their utmost to promote the Four Pillars of Peace action plan to demonstrate the people’s broad consensus and firm resolve, consistent across the entirety of our nation, to oppose annexation of Taiwan by China. (2) I request that the NSC and the Ministry of Foreign Affairs draft an action plan that will, through collaboration with our friends and allies, convey to the world our national will and broad social consensus in opposing annexation of Taiwan by China and in countering China’s efforts to erase Taiwan from the international community and downgrade Taiwan’s sovereignty. II. Responding to China’s threats from infiltration and espionage activities targeting our military (1) Comprehensively review and amend our Law of Military Trial to restore the military trial system, allowing military judges to return to the frontline and collaborate with prosecutorial, investigative, and judicial authorities in the handling of criminal cases in which active-duty military personnel are suspected of involvement in such military crimes as sedition, aiding the enemy, leaking confidential information, dereliction of duty, or disobedience. In the future, criminal cases involving active-duty military personnel who are suspected of violating the Criminal Code of the Armed Forces will be tried by a military court. (2) Implement supporting reforms, including the establishment of a personnel management act for military judges and separate organization acts for military courts and military prosecutors’ offices. Once planning and discussion are completed, the MND will fully explain to and communicate with the public to ensure that the restoration of the military trial system gains the trust and full support of society. (3) To deter the various types of controversial rhetoric and behavior exhibited by active-duty as well as retired military personnel that severely damage the morale of our national military, the MND must discuss and propose an addition to the Criminal Code of the Armed Forces on penalties for expressions of loyalty to the enemy as well as revise the regulations for military personnel and their families receiving retirement benefits, so as to uphold military discipline. III. Responding to China’s threats aimed at obscuring the national identity of the people of Taiwan (1) I request that the Ministry of the Interior (MOI), Mainland Affairs Council (MAC), and other relevant agencies, wherever necessary, carry out inspections and management of the documents involving identification that Taiwanese citizens apply for in China, including: passports, ID cards, permanent residence certificates, and residence certificates, especially when the applicants are military personnel, civil servants, or public school educators, who have an obligation of loyalty to Taiwan. This will be done to strictly prevent and deter united front operations, which are performed by China under the guise of “integrated development,” that attempt to distort our people’s national identity. (2) With respect to naturalization and integration of individuals from China, Hong Kong, and Macau into Taiwanese society, more national security considerations must be taken into account while also attending to Taiwan’s social development and individual rights: Chinese nationals applying for permanent residency in Taiwan must, in accordance with the law of Taiwan, relinquish their existing household registration and passport and may not hold dual identity status. As for the systems in place to process individuals from Hong Kong or Macau applying for residency or permanent residency in Taiwan, there will be additional provisions for long-term residency to meet practical needs. IV. Responding to China’s threats from united front infiltration into Taiwanese society through cross-strait exchanges  (1) There are increasing risks involved with travel to China. (From January 1, 2024 to today, the MAC has received reports of 71 Taiwanese nationals who went missing, were detained, interrogated, or imprisoned in China; the number of unreported people who have been subjected to such treatment may be several times that. Of those, three elderly I-Kuan Tao members were detained in China in December of last year and have not yet been released.) In light of this, relevant agencies must raise public awareness of those risks, continue enhancing public communication, and implement various registration systems to reduce the potential for accidents and the risks associated with traveling to China. (2) Implement a disclosure system for exchanges with China involving public officials at all levels of the central and local government. This includes everyone from administrative officials to elected representatives, from legislators to village and neighborhood chiefs, all of whom should make the information related to such exchanges both public and transparent so that they can be accountable to the people. The MOI should also establish a disclosure system for exchanges with China involving public welfare organizations, such as religious groups, in order to prevent China’s interference and united front activities at their outset. (3) Manage the risks associated with individuals from China engaging in exchanges with Taiwan: Review and approval of Chinese individuals coming to Taiwan should be limited to normal cross-strait exchanges and official interactions under the principles of parity and dignity, and relevant factors such as changes in the cross-strait situation should be taken into consideration. Strict restrictions should be placed on Chinese individuals who have histories with the united front coming to Taiwan, and Chinese individuals should be prohibited from coming to Taiwan to conduct activities related in any way to the united front. (4) Political interference from China and the resulting risks to national security should be avoided in cross-strait exchanges. This includes the review and management of religious, cultural, academic, and education exchanges, which should in principle be depoliticized and de-risked so as to simplify people-to-people exchanges and promote healthy and orderly exchanges. (5) To deter the united front tactics of a cultural nature employed by Chinese nationals to undermine Taiwan’s sovereignty, the Executive Yuan must formulate a solution to make our local cultural industries more competitive, including enhanced support and incentives for our film, television, and cultural and creative industries to boost their strengths in democratic cultural creation, raise international competitiveness, and encourage research in Taiwan’s own history and culture. (6) Strengthen guidance and management for entertainers developing their careers in China. The competent authorities should provide entertainers with guidelines on conduct while working in China, and make clear the scope of investigation and response to conduct that endangers national dignity. This will help prevent China from pressuring Taiwanese entertainers to make statements or act in ways that endanger national dignity. (7) The relevant authorities must adopt proactive, effective measures to prevent China from engaging in cognitive warfare against Taiwan or endangering cybersecurity through the internet, applications, AI, and other such tools. (8) To implement these measures, each competent authority must run a comprehensive review of the relevant administrative ordinances, measures, and interpretations, and complete the relevant regulations for legal enforcement. Should there be any shortcomings, the legal framework for national security should be strengthened and amendments to the National Security Act, Anti-Infiltration Act, Act Governing Relations between the People of the Taiwan Area and the Mainland Area, Laws and Regulations Regarding Hong Kong & Macao Affairs, or Cyber Security Management Act should be proposed. Communication with the public should also be increased so that implementation can happen as soon as possible. V. Responding to threats from China using “integrated development” to attract Taiwanese businesspeople and youth (1) I request that the NSC and administrative agencies work together to carry out strategic structural adjustments to the economic and trade relations between Taiwan and China based on the strategies of putting Taiwan first and expanding our global presence while staying rooted in Taiwan. In addition, they should carry out necessary, orderly adjustments to the flow of talent, goods, money, and skills involved in cross-strait economic and trade relations based on the principle of strengthening Taiwan’s foundations to better manage risk. This will help boost economic security and give us more power to respond to China’s economic and trade united front and economic coercion against Taiwan. (2) I request that the Ministry of Education, MAC, Ministry of Economic Affairs, and other relevant agencies work together to comprehensively strengthen young students’ literacy education on China and deepen their understanding of cross-strait exchanges. I also request these agencies to widely publicize mechanisms for employment and entrepreneurship for Taiwan’s youth and provide ample information and assistance so that young students have more confidence in the nation’s future and more actively invest in building up and developing Taiwan. My fellow citizens, this year marks the 80th anniversary of the end of the Second World War. History tells us that any authoritarian act of aggression or annexation will ultimately end in failure. The only way we can safeguard freedom and prevail against authoritarian aggression is through solidarity. As we face increasingly severe threats, the government will not stop doing its utmost to ensure that our national sovereignty is not infringed upon, and to ensure that the freedom, democracy, and way of life of Taiwan’s 23 million people continues on as normal. But relying solely on the power of the government is not enough. What we need even more is for all citizens to stay vigilant and take action. Every citizen stands on the frontline of the defense of democracy and freedom. Here is what we can do together: First, we can increase our media literacy, and refrain from spreading and passing on united front messaging from the Chinese state. Second, we can organize and participate in civic education activities to increase our knowledge about united front operations and build up whole-of-society defense resilience. Third, we can promptly expose concerted united front efforts so that all malicious attempts are difficult to carry out. Fourth, we must refuse to participate in any activities that sacrifice national interests. The vigilance and action of every citizen forms the strongest line of defense against united front infiltration. Only through solidarity can we resist being divided. As long as every citizen plays their part toward our nation’s goals for prosperity and security, and as long as we work together, nothing can defeat us.

    MIL OSI Asia Pacific News

  • MIL-OSI: NBPE Announces February Monthly NAV Estimate

    Source: GlobeNewswire (MIL-OSI)

    THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS

    St Peter Port, Guernsey   18 March 2025

    NB Private Equity Partners (NBPE), the $1.2bn1, FTSE 250, listed private equity investment company managed by Neuberger Berman, today announces its 28 February 2025 monthly NAV estimate.

    NAV Highlights (28 February 2025)

    • NAV per share was $27.16 (£21.57), a total return of 0.2% in the month
    • Approximately 87% of fair value based on private company valuation information as of Q4 2024 or based on 28 February 2025 quoted prices
    • Based on information received so far, private company valuations increased by 3.1% during Q4 2024 on a constant currency basis
    • NBPE expects to receive additional updated Q4 2024 financial information which will be incorporated in the monthly NAV updates in the coming weeks
    • $279 million of available liquidity at 28 February 2025
    • ~220k shares repurchased during February 2025 at a weighted average discount of 27% which were accretive to NAV by ~$0.04 per share. Year to date, NBPE has repurchased ~359k at a weighted average discount of 28% which were accretive to NAV by ~$0.06 per share
    As of 28 February 2025 Year to Date One Year 3 years 5 years 10 years
    NAV TR (USD)*
    Annualised
    2.7% 1.6% (0.2%)
    (0.1%)
    72.3%
    11.5%
    165.3%
    10.3%
    MSCI World TR (USD)*
    Annualised
    2.8% 16.1% 35.8%
    10.7%
    96.4%
    14.5%
    168.9%
    10.4%
               
    Share price TR (GBP)*
    Annualised
    1.6% (0.1%) 11.3%
    3.6%
    77.8%
    12.2%
    205.5%
    11.8%
    FTSE All-Share TR (GBP)*
    Annualised
    6.9% 18.4% 27.7%
    8.5%
    53.4%
    8.9%
    82.7%
    6.2%

    * All NBPE performance figures assume re-investment of dividends on the ex-dividend date and reflect cumulative returns over the relevant time periods shown. Three-year, five-year and ten-year annualised returns are presented for USD NAV, MSCI World (USD), GBP Share Price and FTSE All-Share (GBP) Total Returns.

    Portfolio Update to 28 February 2025

    NAV performance during the month driven by:

    • 0.3% NAV increase ($3 million) from the value of quoted holdings (which now constitute 6% of portfolio fair value)
    • 0.1% NAV decrease ($2 million) attributable to expense accruals
    • Immaterial NAV change from new private company valuation information and changes in FX

    $29 million of realisations in 2025 year to date

    • $26 million of realisations received during the month of February, consisting primarily of exit proceeds from NBPE’s investment in USI and a partial realisation in Tendam

    $279 million of total liquidity at 28 February 2025

    • $69 million of cash and liquid investments with $210 million of undrawn credit line available

    2025 Share Buybacks

    • ~220k shares repurchased in February 2025 at a weighted average discount of 27%; buybacks were accretive to NAV by ~$0.04 per share
    • On 19 February 2025, NBPE’s board announced that it had reserved $120 million for buybacks over the next three years
    • Year to date, NBPE has repurchased ~359k at a weighted average discount of 28% which were accretive to NAV by ~$0.06 per share

    Portfolio Valuation

    The fair value of NBPE’s portfolio as of 28 February 2025 was based on the following information:

    • 6% of the portfolio was valued as of 28 February 2025
      • 6% in public securities
    • 81% of the portfolio was valued as of 31 December 2024
      • 81% in private direct investments
    • 13% of the portfolio was valued as of 30 September 2024
      • 13% in private direct investments

    For further information, please contact:

    NBPE Investor Relations        +44 (0) 20 3214 9002
    Luke Mason        NBPrivateMarketsIR@nb.com  

    Kaso Legg Communications        +44 (0)20 3882 6644

    Charles Gorman        nbpe@kl-communications.com
    Luke Dampier
    Charlotte Francis

    Supplementary Information (as at 28 February 2025)

    Company Name Vintage Lead Sponsor Sector Fair Value ($m) % of FV
    Action 2020 3i Consumer 74.8 5.9%
    Osaic 2019 Reverence Capital Financial Services 68.9 5.4%
    Solenis 2021 Platinum Equity Industrials 60.0 4.7%
    BeyondTrust 2018 Francisco Partners Technology / IT 50.0 3.9%
    Monroe Engineering 2021 AEA Investors Industrials 42.6 3.3%
    Business Services Company* 2017 Not Disclosed Business Services 40.1 3.1%
    Branded Cities Network 2017 Shamrock Capital Communications / Media 39.2 3.1%
    GFL (NYSE: GFL) 2018 BC Partners Business Services 35.5 2.8%
    Mariner 2024 Leonard Green & Partners Financial Services 34.8 2.7%
    FDH Aero 2024 Audax Group Industrials 33.0 2.6%
    True Potential 2022 Cinven Financial Services 32.2 2.5%
    Staples 2017 Sycamore Partners Business Services 31.6 2.5%
    Marquee Brands 2014 Neuberger Berman Consumer 31.2 2.4%
    Fortna 2017 THL Industrials 28.7 2.3%
    Auctane 2021 Thoma Bravo Technology / IT 28.7 2.3%
    Viant 2018 JLL Partners Healthcare 27.1 2.1%
    Stubhub 2020 Neuberger Berman Consumer 26.5 2.1%
    Benecon 2024 TA Associates Healthcare 26.0 2.0%
    Agiliti 2019 THL Healthcare 25.3 2.0%
    Solace Systems 2016 Bridge Growth Partners Technology / IT 24.4 1.9%
    Engineering 2020 NB Renaissance / Bain Capital Technology / IT 24.1 1.9%
    Addison Group 2021 Trilantic Capital Partners Business Services 23.8 1.9%
    Kroll 2020 Further Global / Stone Point Financial Services 23.6 1.8%
    Qpark 2017 KKR Transportation 22.0 1.7%
    Excelitas 2022 AEA Investors Industrials 21.9 1.7%
    CH Guenther 2021 Pritzker Private Capital Consumer 21.4 1.7%
    Exact 2019 KKR Technology / IT 21.4 1.7%
    AutoStore (OB.AUTO) 2019 THL Industrials 19.5 1.5%
    Bylight 2017 Sagewind Partners Technology / IT 19.5 1.5%
    Real Page 2021 Thoma Bravo Technology / IT 18.5 1.5%
    Total Top 30 Investments                             $976.2 76.5%

    *Undisclosed company due to confidentiality provisions.

    Geography % of Portfolio
    North America 78%
    Europe 21%
    Asia / Rest of World 1%
    Total Portfolio 100%
       
    Industry % of Portfolio
    Tech, Media & Telecom 23%
    Consumer / E-commerce 21%
    Industrials / Industrial Technology 17%
    Financial Services 14%
    Business Services 12%
    Healthcare 8%
    Other 4%
    Energy 1%
    Total Portfolio 100%
       
    Vintage Year % of Portfolio
    2016 & Earlier 10%
    2017 16%
    2018 15%
    2019 14%
    2020 12%
    2021 18%
    2022 5%
    2023 2%
    2024 8%
    Total Portfolio 100%

    About NB Private Equity Partners Limited
    NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.

    LEI number: 213800UJH93NH8IOFQ77

    About Neuberger Berman
    Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $508 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman’s investment philosophy is founded on active management, fundamental research and engaged ownership. The firm’s leadership in stewardship and sustainable investing is recognized by the PRI based on its consecutive above median reporting assessment results. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last eleven years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of 31 December 2024, unless otherwise noted.


    1Based on net asset value.

    This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.

    NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE’s investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains “forward-looking statements.” Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements.

    Attachment

    The MIL Network

  • MIL-OSI: Information to be delivered by Šiaulių Bankas at the Investor Conference Webinar on Rebranding

    Source: GlobeNewswire (MIL-OSI)

    The webinar will be hosted by Vytautas Sinius, CEO and Raimonda Gudaitė, CMO, who will introduce the Rebranding of the Bank.

     

    Please find enclosed the information to be delivered during the presentation.

     

    Additional information:
    Tomas Varenbergas
    Head of Investment Management Division
    tomas.varenbergas@sb.lt

    Attachment

    The MIL Network

  • MIL-OSI: NSFW AI Role Play Chatbot Debuts at JuicyChat.AI

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, March 18, 2025 (GLOBE NEWSWIRE) — JuicyChat.AI announced today the launch of its innovative NSFW AI Role Play Chatbot, designed to enhance interactive digital conversations. The new feature offers users a dynamic NSFW AI role play experience powered by advanced artificial intelligence.

    Cutting-Edge Technology

    The NSFW AI Role Play Chatbot employs state-of-the-art machine learning algorithms and natural language processing to generate context-aware responses. Its intuitive design allows users to engage in creative, scenario-based interactions that adapt to individual conversation flows. Regular updates and refinements ensure the chatbot remains at the forefront of interactive technology.

    Enhanced User Engagement

    JuicyChat.AI’s new offering is built to deliver an immersive experience without explicit content. Key benefits include:

    Dynamic Role Play: Users can enjoy personalized role play scenarios with responsive and evolving dialogue.

    User-Friendly Interface: The platform’s streamlined design makes it simple for users to initiate and navigate conversations.

    Consistent Performance: Advanced technology ensures reliable and engaging interactions during each chat session.

    Availability and Future Developments

    The NSFW AI Role Play Chatbot is now available on JuicyChat.AI. The platform remains committed to pushing the boundaries of interactive AI technology, with plans for continuous enhancements based on user feedback and emerging trends.

    For more information or to experience this innovative NSFW AI chatbot, visit JuicyChat.AI.

    JuicyChat.AI’s latest feature marks a significant step forward in digital communication, offering a fresh approach to interactive role play through advanced NSFW AI chat capabilities.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/709833f9-90dd-4371-a952-71ee8a16ad38

    The MIL Network

  • MIL-Evening Report: After a century of Monday to Friday, could the 4-day week finally be coming to Australia?

    Source: The Conversation (Au and NZ) – By John L. Hopkins, Associate Professor of Management, Swinburne University of Technology

    The reality of shorter working hours could be one step closer for many Australians, pending the outcome of the federal election.

    The Greens, who could control crucial cross bench votes in a hung parliament, have announced plans for a four-day working week, with no loss of pay. They say the policy would alleviate stress and burn out, and increase women’s participation in the workforce.

    Earning the same money for fewer hours would appeal to most workers. But is it too good to be true? Could it really be rolled out cost free to all workplaces, especially to “client facing” companies and service providers?

    Or does research suggest the Greens could be onto something?

    The Greens’ plan

    The Greens’ policy would involve a new National Institute for the Four Day Work Week and a test case through the Fair Work Commission.

    A series of national trials would be set up in a number of different industries, whereby workers would work 80% of their normal hours, while maintaining 100% of their pay.

    According to Greens Senator Barbara Pocock, it’s a win-win for everyone:

    It can increase productivity, reduce absenteeism, improve recruitment and retention and give employees more time to manage their home life. This change will allow workers to create a working week that works for them.

    The 100:80:100 model

    The four-day work week being proposed in this instance is commonly regarded as the 100:80:100 model.

    It delivers 100% of the pay, for 80% of the hours, in return for maintaining 100% of productivity.

    This is unlike other forms of shorter working weeks, which compress five days’ worth of work into four longer days. This obviously disadvantages some employees.

    Recent research conducted by Swinburne University of Technology involved interviews with ten Australian firms that have already adopted the 100:80:100 model.

    They were a mixture of small and medium sized private sector businesses, including management consulting firms, a shipping and logistics company, and recruitment and marketing agencies.

    The research underlined the potential for a range of positive outcomes for both employers and employees.

    Workers reported having better work-life balance, more time to complete “life administration” tasks, and more time to invest in hobbies, exercise, wellness and self-care. Bosses cited productivity gains, reduced sick days, and significant improvements in recruitment and retention rates.

    However, the 100:80:100 model is viewed with scepticism in some quarters. There is still doubt that productivity and output would be maintained, or in some cases improved, when workers are working one day fewer per week.

    Also, there could be costs associated with the implementation of this work model for front-line roles, such as retail, schools, hospitals and nursing homes. Additional workers may need to be hired, at extra expense, to cover the hours dropped by the existing workforce.

    100 years of working 5 days a week

    The year 2026 will mark the 100th anniversary of the five-day work week.

    It was car maker Henry Ford who reduced the working week in the United States from six days to five. Other sectors and countries followed suit. This was at a time when the average life expectancy of Australian workers was just 55 and households typically only had one bread-winner.

    Despite the time saved by the many technological breakthroughs in the past 100 years – from the photocopier, desktop computer and fax machine, to the internet, mobile phones and AI – the average Australian is now working longer hours in paid and unpaid labour than ever before.

    The Greens point out Australian society is changing. More women and carers are either in the workforce or would be encouraged into the workforce by more flexible arrangements:

    yet we are constrained by archaic labour laws that see the fruits of our efforts swallowed up in profits for bosses and shareholders.

    The role of generative AI technologies in the workplace may also deliver benefits to workers. Separate Swinburne research has revealed an increasing expectation among workers that they will receive a share in the time saved by future technologies in the form of improved work-life balance and wellbeing gains.

    Time to enter the 21st century

    Earlier this year, 200 UK companies signed up to the 100:80:100 model, as part of a campaign to “reinvent Britain’s working week”. Large scale trials are also underway in Canada and several European countries.

    The global interest in a shorter working week is not surprising, and has likely been fuelled by the COVID pandemic, which has caused workers and employers to re-imagine their working lives.

    If the Greens are in a position to leverage any balance of power after the coming election, it could be Australia’s turn to recognise the conventional five-day working week is no longer fit for purpose.

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

    ref. After a century of Monday to Friday, could the 4-day week finally be coming to Australia? – https://theconversation.com/after-a-century-of-monday-to-friday-could-the-4-day-week-finally-be-coming-to-australia-252379

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI China: China’s commercial rocket sends 8 satellites

    Source: China State Council Information Office 2

    A CERES-1 carrier rocket carrying eight satellites blasts off from the Jiuquan Satellite Launch Center in northwest China on March 17, 2025. [Photo/Xinhua]
    China’s CERES-1 commercial rocket put eight satellites into the 535-kilometer sun-synchronous orbit on Monday.
    The carrier rocket, CERES-1 Y10, blasted off from the Jiuquan Satellite Launch Center in northwest China at 4:07 p.m. on March 17 on a mission dubbed “Auld Lang Syne.” It delivered five satellites, including the Yunyao-1 55-60 and the AIRSAT-06 and -07 satellites. 
    Equipped with Global Navigation Satellite System (GNSS) occultation detection payloads, the Yunyao-1 satellites are part of the commercial meteorological satellite constellation the Tianjin-based company Yunyao Aerospace is building, with plans for 90 in total. The payload enables satellites to collect atmospheric temperature, humidity, pressure and ionospheric electron density data. 
    The constellation aims to establish a real-time global atmospheric and ionospheric detection system for global weather forecasting and application in various industries. Specifically, it will provide meteorological forecast information with a real-time performance better than 20 minutes for countries along the Belt and Road partner countries, according to the company.
    Beijing-based rocket company Galactic Energy has completed 17 successful launches, with its most recent mission marking the first commercial launch of the year in China.

    MIL OSI China News

  • MIL-OSI China: Chinese economy off to robust start in 2025 as growth gains momentum

    Source: China State Council Information Office

    The Chinese economy has maintained good growth momentum, starting the year on a steady note with sound industrial performances and impactful macro policies, official data revealed on Monday.

    During January and February 2025, most key indicators saw solid increases, employment remained generally stable, and new quality productive forces continued to grow, according to the National Bureau of Statistics (NBS).

    Given the economy’s sound performance in the first two months, China has more favorable conditions to achieve its full-year growth target of around 5 percent for 2025, NBS spokesperson Fu Linghui said at a press conference.

    A good start 

    In the first two months of 2025, China’s value-added industrial output, an important economic indicator, increased 5.9 percent year on year. In February, industrial output grew 0.51 percent from January.

    The country’s fixed-asset investment totaled 5.2619 trillion yuan (about 734 billion U.S. dollars) during the January-February period. It increased 4.1 percent year on year and was 0.9 percentage points higher than the full-year growth rate of 2024.

    Investment in infrastructure construction rose 5.6 percent from a year ago during the two months, and manufacturing investment increased 9 percent.

    An aerial drone photo shows a view of Yangpu International Container Port in the Yangpu Economic Development Zone in Danzhou, south China’s Hainan Province, Jan. 11, 2025. [Photo/Xinhua]

    The services sector also registered accelerated growth in the period, with its official production index growing 5.6 percent year on year at a rate 0.4 percentage points faster than the 2024 whole-year growth rate.

    Retail sales of consumer goods, a major indicator of a country’s consumption strength, climbed 4 percent year on year in the first two months of 2025 to over 8.37 trillion yuan, according to the NBS data.

    The country’s overall employment landscape has remained stable, with the average surveyed urban unemployment rate standing at 5.3 percent, level with the January-February period of last year.

    Fu attributed the upbeat momentum to the synergistic effects of existing and incremental policies, highlighting the implementation of a more proactive fiscal policy and a moderately loose monetary policy this year.

    Job seekers attend a job fair held in Huaibei, east China’s Anhui Province, Jan. 22, 2025. [Photo/Xinhua]

    Favorable growth conditions 

    The country’s sound economic performance in the first two months has laid a good foundation for success in meeting its annual growth target, given that the synergistic effects of macro policies have gained momentum, that reform and opening up have been deepened comprehensively, and that confidence has strengthened, Fu said.

    Looking ahead, China possesses multiple favorable conditions to maintain stable, healthy economic development, the spokesperson added.

    Highlighting its solid industrial foundations and strengthened new growth drivers, Fu said that China is the only country in the world with all industrial categories listed in the United Nations Industrial Classification, and its manufacturing scale has led globally for 15 consecutive years, with “Made in China” products meeting both domestic and global demand.

    China’s integration of advanced manufacturing and production services is progressing rapidly, and policies focusing on the improvement of livelihoods have created favorable conditions for consumer services, Fu noted.

    Breakthroughs in the field of artificial intelligence have amplified opportunities for industrial upgrading, the spokesperson said.

    This photo taken on March 6, 2025 shows an automated production site at the final assembly workshop of Chang’an Auto Digital Intelligence Factory, in Yubei District of southwest China’s Chongqing. [Photo/Xinhua]

    In terms of the market and consumption, Fu said that China’s market offers immense growth potential, with a population of over 1.4 billion and a per capita GDP exceeding 13,000 U.S. dollars. The expansion of new types of consumption such as spending in the green and digital sectors, as well as services consumption in areas such as elderly care and childcare will become a significant driving force for consumption growth.

    Reform and opening up remain the lifeblood of China’s progress, according to the spokesperson. Over 300 reform initiatives put forward at the third plenary session of the 20th Central Committee of the Communist Party of China in July last year will stimulate productivity further and inject vitality into the economy.

    The incremental policy packages that China unveiled last year have revitalized market confidence and spurred market vitality, Fu said, adding that 2025 marks the final year of China’s 14th Five-Year Plan (2021-2025), and that work to achieve the national growth target of around 5 percent requires arduous efforts.

    Fu stressed the importance of seizing the current opportunities in economic recovery, enhancing the implementation of various macroeconomic policies, and deepening comprehensive reform further, among other efforts, to achieve the country’s economic and social development goals. 

    MIL OSI China News

  • MIL-OSI China: BMW partners with Huawei to develop in-car digital ecosystem

    Source: China State Council Information Office

    German carmaker BMW on Monday said it will work with Chinese tech giant Huawei to develop an in-car digital ecosystem specifically tailored for the Chinese market.

    According to the German auto behemoth, this cooperation means a deep integration with Huawei’s HarmonyOS NEXT, the Chinese company’s self-developed operating system that was built independent of the Android architecture.

    Built upon the operating system, BMW’s digital key functionality is set to debut later this year, allowing users to unlock, lock and start their vehicles using Huawei smartphones. Additionally, the integration with a Huawei smart interconnection solution will debut in 2026 on BMW’s locally produced next-generation electric models, the “Neue Klasse.”

    “In China, nearly a quarter of our mobile application users rely on Huawei devices. By deeply integrating with the HarmonyOS ecosystem, BMW will enhance in-car applications and digital connectivity services for HarmonyOS users, elevating intelligent experiences in high-frequency use scenarios,” said Sean Green, president and CEO of BMW Group Region China.

    The German company has approximately 460 local supplier partners in China and is accelerating collaboration with Chinese technology partners, particularly in cutting-edge technologies such as large language models, generative artificial intelligence and intelligent voice interaction.

    With research and development (R&D) centers in Beijing, Shanghai, Shenyang and Nanjing, BMW has established its largest R&D network outside of Germany in China.

    “China has emerged as a global engine of innovation,” said the senior executive. “Through collaboration with leading local technology partners in joint R&D and co-creation, BMW is leveraging its system integration expertise to advance local partnerships.”

    Believing in the potential of the Chinese car market, the German company announced a reinvestment to upgrade and modernize its Shenyang production base in 2024, following two decades of rapid expansion in the northeastern Chinese city.

    Since 2010, BMW’s total investment in its Shenyang production base has reached 116 billion yuan (about 16.18 billion U.S. dollars), making the city home to BMW’s largest production facility worldwide.

    MIL OSI China News

  • MIL-OSI: ACT Group Hires Former South Pole CEO John Davis as Managing Director for the Asia-Pacific Region

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, March 18, 2025 (GLOBE NEWSWIRE) — ACT Group welcomes seasoned sustainability professional John Davis as Managing Director for the Asia-Pacific (APAC) region to accelerate their growth and deliver measurable climate impact across this rapidly expanding market.

    With a career in sustainability solutions spanning 20 years, Davis recently led South Pole as their Interim CEO through a critical restructuring and funding round. Throughout his 10-year tenure there he held various leadership roles, including Global Commercial and Director for APAC, where he successfully expanded the company’s regional operations and drove strategic growth initiatives.

    “We are delighted to welcome John to ACT in this crucial role to accelerate the growth of our business in APAC,” said Colin Crooks, CEO of ACT. “His extensive experience, including leadership positions at South Pole, has equipped him with a profound understanding of the sustainability landscape. John has years of experience in carbon finance and emissions trading and is a superb leader. His vision aligns perfectly with ACT’s mission to provide innovative environmental solutions and empower our clients to achieve their sustainability goals efficiently and transparently.”

    Prior to South Pole, Davis held senior trading and origination roles at CF Partners and Spectron Group, executing high-value carbon and energy market transactions.

    Expressing his enthusiasm about joining ACT, Davis shared, “I am incredibly excited to be joining ACT, and moving with my family from Sydney to Singapore, a city we love. The Asia-Pacific region is central to global energy sector decarbonization and the world’s transition to Net Zero, and Singapore is a key player in this movement, continually pushing the boundaries of innovation. I am eager to collaborate with the exceptional team at ACT across the region to make a meaningful impact in the various jurisdictions that are striving to decarbonize their economies over the next five years and beyond.”

    Reflecting on his decision to leave South Pole, Davis said, “It was tough, but it was the natural end of an entrepreneurial cycle that I was incredibly proud to be part of. After some time out of the market to reflect, it was clear that the journey ACT is embarking on, in its next global growth chapter under Colin’s leadership, is an incredible opportunity.”

    Davis succeeds Federico Di Credico, who established ACT’s Singapore office in 2022 as Managing Director. Di Credico now serves as ACT’s Global Chief Sustainability and Innovation Officer.

    Davis’s hiring comes as ACT continues to enhance its ability to serve clients as the global one-stop-shop for decarbonization and environmental solutions. In 2024, ACT opened a seventh global office in Tokyo, joining locations in Amsterdam, New York, Paris, London, Shanghai, and Singapore, as it continues to enhance its capabilities through strategic acquisitions and bolster its position as a global leader in environmental solutions.

    For media inquiries, please contact: Jeroen Coenen | Head of Marketing | jcoenen@actcommodities.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/45e0a7c7-e044-404d-9c34-e2f9fdd9c83c

    The MIL Network

  • MIL-Evening Report: NZ has no dedicated database to track losses from weather disasters – without it, we’re planning in the dark

    Source: The Conversation (Au and NZ) – By Ilan Noy, Chair in the Economics of Disasters and Climate Change, Te Herenga Waka — Victoria University of Wellington

    STR/AFP via Getty Images

    Following the Trump administration’s abrupt cuts to USAID funding last month, the online international disaster database EM-DAT (normally funded by USAID) went dark for a week.

    EM-DAT collates data on the occurrence and impacts of thousands of mass disasters worldwide and records both human and economic losses in a publicly available dataset. It relies on various sources, including United Nations agencies and non-governmental organisations, but also news reports.

    The vulnerability of this database to the Trump administration’s cuts highlights the need for New Zealand to take charge of its own data on the damage caused by extreme events.

    Currently, New Zealand has no dedicated disaster loss database. This means we don’t know how much extreme weather events and other types of disasters are costing us.

    But as such events are becoming more frequent and more intense with worsening climate change, this lack of data is increasingly detrimental to our long-term prosperity.

    Two events in 2023 – Cyclone Gabrielle and the Auckland floods – illustrate this problem. They were by far the costliest weather disasters in New Zealand’s modern history and we know they were exceptionally damaging.

    But we don’t know the aggregate financial losses they caused, and the different sources shown in the table below provide conflicting numbers, none of them comprehensive.



    Without understanding the magnitude of the problem, our ability to prevent damage or recover from extreme weather is diminished. It is indeed difficult to manage what we don’t measure.

    In the face of these unknowns, most other countries, including Australia, are investing in the collection, collation and analysis of their own data to make informed decisions about disaster risk management. It is high time New Zealand did the same.

    The limits of New Zealand’s data on loss and damage

    Currently, data on extreme weather costs have come primarily from the Insurance Council of New Zealand (ICNZ) or from EM-DAT, whose data sometimes come from less reliable sources. New Zealand’s reliance on a private source and an international organisation leaves us with data that could charitably be described as fragmented, incomplete and unreliable.

    ICNZ figures showing insurance payouts for disasters are commonly used by the government and media as a proxy for total cost. But private insurance accounts for only a small share of the losses resulting from some extreme weather. Roads, bridges and many other parts of public infrastructure are not insured; many private assets are not insured either.

    Furthermore, wealthier communities tend to be better insured and hence receive higher payouts. The ICNZ data imply they experience more damages than poorer, less insured communities, even when that is not the case.

    As climate change brings more extreme weather, more homes will likely be under-insured.
    Phil Walter/Getty Images

    Globally, insurance tends to retreat when the risks become too high to be covered affordably. We expect that in the future a higher number of homes and businesses will be under-insured. Relying solely on data on insured damages will hence provide us with an increasingly partial picture of damages caused by extreme weather.

    The second main source of disaster loss data is EM-DAT. In principle, it aims to include all damage costs (not just insured ones), but the approach does not necessarily result in more accurate numbers.

    As the graph below shows, ICNZ can be counted on to provide reliable data for all large events, but there are frequent gaps in EM-DAT’s data for New Zealand. It is also clear that the difference between ICNZ private insurance payouts and total cost estimates from EM-DAT is too small to accurately reflect uninsured losses.



    In previous research (co-authored with Rebecca Newman) we identified other gaps in the EM-DAT international estimates of extreme-weather costs, most notably for wildfires, droughts and heatwaves.

    Damages from these events are largely uninsured and so are not included in the ICNZ data either. Yet their likelihood is increasing because of dramatic changes in our climate.

    We only have a partial picture, and a potentially very misleading one at that – both in terms of the size of the problem and how the problem is changing.
    Nevertheless, the data from the ICNZ and EM-DAT are still the best we have for understanding what is happening.

    When EM-DAT temporarily went offline last month following the termination of its funding from USAID, we received a crude reminder of how critical this resource is in the global context. How can we talk about disaster risk management and risk reduction when we have no idea what is going on?

    Effective policy relies on accurate data

    There are myriad ways in which a disaster-loss database for New Zealand could be used effectively by central and local government, insurance and banking companies, weather-exposed industries such as agriculture, community organisations and by individuals.

    Policies about flood protection, planned relocation (managed retreat), climate adaptation, insurance pricing, banking regulation, home loans and infrastructure maintenance should all be informed by knowledge of the risks from extreme-weather events and other hazards.

    A concrete example of how useful this data would be is for planned relocations. We need a clear perspective of the history of flood events in different communities and comprehensive assessments of past damages in order to quantify the future costs of relocations. Without these data, how can we decide which financial arrangements for relocation are fiscally sound?

    A comprehensive New Zealand disaster-loss database is possible. As a nation we have the datasets we need, but these are held within different government agencies and other organisations, with no centralised collection or reporting.

    Hidden there is everything we need to understand the current situation and plan better for the future. We just have to make the decision to invest in collecting and curating this data.

    Stats NZ would be the data’s logical host, given the agency’s extensive experience in collecting and posting data to help us organise our society. Cyclone Gabrielle and the Auckland floods should have convinced us we need this. Maybe EM-DAT going dark, and thus obscuring a worldwide risk, should convince us even more.


    I am grateful for the contribution of Jo-Anne Hazel (writing) and Tom Uher (data collection).


    Ilan Noy is a member of the scientific committee of EM-DAT (pro bono).

    ref. NZ has no dedicated database to track losses from weather disasters – without it, we’re planning in the dark – https://theconversation.com/nz-has-no-dedicated-database-to-track-losses-from-weather-disasters-without-it-were-planning-in-the-dark-251224

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Submissions: Appointments – GridBeyond Appoints Chris O’Brien as Managing Director of Australia

    Source: GridBeyond

    Sydney, Australia – 18 March 2025 – GridBeyond, a global leader in energy optimization and AI-driven solutions for demand response and energy storage, is pleased to announce the appointment of Chris O’Brien as the new Managing Director of Australia. Chris brings over 16 years of experience in the energy sector, having previously held leadership roles at Edge Zero as Executive General Manager and SunPower as Vice President of APAC & LATAM, where he played a key role in the establishment of SunPower’s business in Australia and Asia.

    As Managing Director of GridBeyond Australia, Chris will be responsible for overseeing the company’s operations, driving its expansion, and ensuring the successful delivery of its AI-powered energy solutions to Australian businesses. His leadership will focus on helping commercial, institutional, and industrial organisations maximise the value of their energy assets, reduce costs, and achieve their sustainability goals through advanced demand response and energy storage technologies.

    “I’m thrilled to join GridBeyond at this pivotal moment for the Australian energy market,” said Chris O’Brien. “GridBeyond’s technology is already making a significant impact in driving energy efficiency and grid stability, and I’m excited to help accelerate our growth in Australia. Our solutions not only help businesses optimise their energy usage but also enable them to actively contribute to a more sustainable and resilient energy system.”

    GridBeyond’s platform uses cutting-edge AI, machine learning, and data analytics to enable organizations to reduce energy costs, generate new revenue streams, and support grid reliability through demand response and flexible energy storage. Under Chris’s leadership, GridBeyond Australia will continue to support the country’s energy transition by empowering businesses to take a proactive role in managing their energy consumption while helping utilities improve grid stability.

     

    About GridBeyond

    GridBeyond’s vision is to deliver a global zero carbon future. By leveraging AI, we innovate and collaborate with our customers to create optimal value from energy generation, demand and storage to deliver a zero-carbon future. By bridging the gap between distributed energy resources and electricity markets, GridBeyond’s technology means every connected asset – whether utility-scale renewables generation, battery storage, or industrial load – can be utilized to help maximize opportunities and enhance the grid. By intelligently dispatching flexibility into the right market, at the right time, asset owners and energy consumers unlock new revenues and savings, resilience, and management of price volatility, while supporting the transition to a Net Zero future.

    For more information, visit www.gridbeyond.com

    MIL OSI – Submitted News

  • MIL-OSI China: China’s digital industry reports revenue, profit growth in 2024

    Source: China State Council Information Office

    China’s digital industry operated steadily in 2024, with increases in both revenue and profits, data from the Ministry of Industry and Information Technology (MIIT) showed on Monday.

    The industry’s business revenue reached 35 trillion yuan (about 4.9 trillion U.S. dollars) last year, a 5.5 percent year-on-year increase. Total profits grew 3.5 percent year on year to 2.7 trillion yuan, according to the MIIT.

    Notably, the added value of major manufacturers of computers, communication devices and other electronic devices grew 11.8 percent, up 8.4 percentage points from the previous year.

    Boosted by artificial intelligence (AI), cloud platforms and other emerging business activities, the country’s software sector recorded 10 percent growth in business revenue, which reached 13.7 trillion yuan.

    China has been committed to developing digital technology to transform and upgrade its traditional industries.

    According to this year’s government work report, the country will “accelerate the digitalization of manufacturing, foster a number of service providers with both industry expertise and digital know-how, and bolster support for the digital transformation of small and medium-sized enterprises.”

    The country is also advancing an “AI Plus” initiative, which calls for collective efforts to effectively combine digital technologies with China’s manufacturing and market strengths.

    MIL OSI China News

  • MIL-OSI Canada: Prime Minister Carney meets with Prime Minister of the United Kingdom Sir Keir Starmer

    Source: Government of Canada – Prime Minister

    Today, the Prime Minister, Mark Carney, met with the Prime Minister of the United Kingdom (UK), Sir Keir Starmer, as part of his visit to strengthen ties with steadfast and reliable partners for our economy and security.

    Prime Minister Carney and Prime Minister Starmer emphasized the importance of building a stronger Canada-UK relationship. The leaders highlighted transatlantic security and the trade and investment relationship between Canada and the UK. To that end, they discussed opportunities to expand the Canada-UK trade corridor and responsibly leverage technologies such as artificial intelligence and quantum to benefit workers and economies in both countries.

    The prime ministers reiterated their steadfast support for Ukraine as it continues to defend itself against Russia’s unjustifiable war of aggression. Prime Minister Carney expressed Canada’s support for an immediate ceasefire in Ukraine, highlighted support for Ukraine as a key part of Canada’s G7 Presidency, and commended the UK’s leadership efforts toward a lasting and sustainable peace.

    Anchored in long-standing alliances, shared histories, and enduring ties, the leaders agreed that the partnership between Canada and the UK will only get stronger.

    Associated Links

    MIL OSI Canada News

  • MIL-OSI USA: Murphy, Colleagues Call On Secretary Rubio For Immediate Answers On Foreign Assistance

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    March 17, 2025

    WASHINGTON— U.S. Senator Chris Murphy (D-Conn.) joined his Democratic colleagues on the U.S. Senate Foreign Relations Committee in sending a letter to U.S. Secretary of State Marco Rubio questioning the status of the Administration’s foreign assistance “review.” The senators called on Rubio to testify before the Committee and to consult with Congress on his proposed changes, as required by law.
    “We are seeking immediate clarification on the status of the Administration’s foreign assistance review,” the senators wrote. “Your announcement of the conclusion of the review of USAID awards stands in contrast to statements made by your Director of Foreign Assistance and Deputy Administrator of USAID, Pete Marocco, in a meeting with us on March 6th.” 
    “We have expressed support for a legitimate process and are willing to engage in good faith,” they continued. “We are aware of awards, including for humanitarian U.S. commodity programs, that were terminated, then un-terminated and again re-terminated within a matter of days. This lack of clarity is harmful to American interests, diplomatic relationships, our foreign assistance partners, and people globally who are suffering from food insecurity and malnutrition.” 
    They concluded: “We also note that the letter you submitted to Congress on February 3 communicated your ‘intent to initiate consultations’ consistent with appropriations law, but no such consultations or required notifications have occurred. We expect that you will consult with Congress before the conclusion of the review and reiterate our request that you appear for hearings before the Committee on these actions and their implications for U.S. national security.” 
    U.S. Senators Jeanne Shaheen (D-N.H.), Chris Coons (D-Del.), Tim Kaine (D-Va.), Jeff Merkley (D-Ore.), Cory Booker (D-N.J.), Brian Schatz (D-Hawaii), Chris Van Hollen (D-Md.), Tammy Duckworth (D-Ill.), and Jacky Rosen (D-Nev.) also signed the letter.
    Full text of the letter is available HERE and below.   
    Dear Secretary Rubio: 
    We are seeking immediate clarification on the status of the Administration’s foreign assistance review. On March 10, you tweeted that the Administration’s review of USAID programs was complete, resulting in the cancellation of 83% of the Agency’s programs, or 5,200 contracts.
    Your announcement of the conclusion of the review of USAID awards stands in contrast to statements made by your Director of Foreign Assistance and Deputy Administrator of USAID, Pete Marocco, in a meeting with us on March 6th. Mr. Marocco briefed senators on the Foreign Relations Committee that the President’s 90-day review of U.S. foreign assistance would conclude in mid-April, following consideration of the outcome of the Office of Management and Budget’s data call. Mr. Marocco also stated that the Administration would consult with Congress on programs during the remaining review period.
    The March 10 tweet is also in contrast with a court filing on February 26th in which Pete Marocco attested that the foreign assistance “review” was completed, resulting in the termination of approximately 5,800 awards for USAID—a 93% reduction in USAID programs—and 4,100 State Department awards—a roughly 60% reduction. State and USAID orally briefed these terminations to House and Senate committees of jurisdiction.
    We have expressed support for a legitimate process and are willing to engage in good faith. We ask that you urgently, and personally, provide clarity to this Committee regarding the nature and status of the review and that you provide the Committee with a current list of terminated and retained awards to date. Specifically, we are seeking information on whether this review is ongoing for both USAID and State Department awards; whether there will be additional rescissions of terminations; and the metrics used in decision-making. We are aware of awards, including for humanitarian U.S. commodity programs, that were terminated, then un-terminated and again re-terminated within a matter of days. This lack of clarity, for example, is harmful to American interests, diplomatic relationships, our foreign assistance partners, and people globally who are suffering from food insecurity and malnutrition. 
    We also note that the letter you submitted to Congress on February 3 communicated your “intent to initiate consultations” consistent with appropriations law, but no such consultations or required notifications have occurred. We expect that you will consult with Congress before the conclusion of the review and reiterate our request that you appear for hearings before the Committee on these actions and their implications for U.S. national security.
    We look forward to your prompt response.

    MIL OSI USA News

  • MIL-OSI USA: Office of the Governor — News Release — Gov. Green Secures Federal Support for University and Restoration of 442nd Regimental Combat Team Webpage

    Source: US State of Hawaii

    Office of the Governor — News Release — Gov. Green Secures Federal Support for University and Restoration of 442nd Regimental Combat Team Webpage

    Posted on Mar 17, 2025 in Latest Department News, Newsroom, Office of the Governor Press Releases

    STATE OF HAWAIʻI 
    KA MOKU ʻĀINA O HAWAIʻI 

     
    JOSH GREEN, M.D. 
    GOVERNOR
    KE KIAʻĀINA 

    GOVERNOR GREEN SECURES FEDERAL SUPPORT FOR UNIVERSITY OF HAWAI‘I AND RESTORATION OF 442ND REGIMENTAL COMBAT TEAM WEBPAGE

    FOR IMMEDIATE RELEASE
    March 17, 2025

    HONOLULU Governor Josh Green, M.D., has successfully secured key federal actions through direct engagement with the White House, advocating for Hawai‘i on critical issues affecting our communities. In two significant resolutions, Governor Green ensured continued federal funding for the University of Hawai‘i amid a Title VI investigation and championed the restoration of the U.S. Army’s webpage honoring the legendary 442nd Regimental Combat Team.

    Protecting the Future of Higher Education in Hawai‘i

    The University of Hawai‘i was among 60 institutions under investigation by the U.S. Department of Education Office for Civil Rights (OCR) for potential antisemitic harassment and discrimination. While UH has fully cooperated with the investigation and remains committed to fostering an inclusive learning environment, there were growing concerns that the federal administration would use these investigations as a pretext to pull critical federal funding.

    Governor Green took decisive action, engaging directly with senior White House officials to protect UH students and ensure the institution would not face unwarranted financial penalties. Speaking on his efforts, Governor Green stated:

    “I was on the phone to the White House dealing with UH funding at about 4:30 a.m. on March 11. I spoke with high-level administration officials including the Deputy Chief of Staff for the White House and a Director of Intergovernmental Affairs. I explained that while there was a little on-campus conflict during the recent war in Gaza, it paled in comparison to what’s gone on at other universities. We are not an institution that is antisemitic. We’re giving them a letter to fortify our position, but they assured me the University of Hawai‘i is not on the chopping block for antisemitism.”

    Through these efforts, the federal administration reaffirmed its commitment to upholding civil rights while maintaining funding streams that support research, education, and student services at UH.

    “I couldn’t stand by and allow a misunderstanding from the government to use civil rights investigations as a tool to undermine our students’ future,” said Governor Green. “The University of Hawai‘i is a pillar of opportunity for our local students, and I will always fight to protect access to higher education.”

    Restoring the Legacy of the 442nd Regimental Combat Team

    In response to the recent removal of the U.S. Army’s webpage honoring the 442nd Regimental Combat Team—a unit renowned as the most decorated for its size and length of service in U.S. military history—Governor Josh Green, M.D. has actively engaged with senior White House officials to address the issue. The webpage has since been restored, reaffirming the commitment to preserving the legacy of these courageous soldiers.

    During the 73rd Cherry Blossom Festival, Governor Green shared with local Japanese leaders, including Consul General of Japan, Yoshinori Kodama, that he was reaching out to the administration to ensure the 442nd’s legacy remained intact.

    “The story of the 442nd is a testament to the resilience and patriotism of Japanese-American soldiers who fought bravely for a country that once questioned their loyalty,” said Governor Green. “We must never allow their sacrifices to be erased from history.”

    This outcome highlights Hawaiʻi’s shared commitment to preserving and honoring the rich heritage of its communities, reflecting the state’s dedication to safeguarding the narratives that define our collective identity.

    # # #

    Media Contacts:   
    Erika Engle
    Press Secretary
    Office of the Governor, State of Hawai‘i
    Office: 808-586-0120
    Email: [email protected] 

    Makana McClellan
    Director of Communications
    Office of the Governor, State of Hawaiʻi
    Cell: 808-265-0083
    Email: [email protected]

    MIL OSI USA News

  • MIL-OSI: $HAREHOLDER ALERT: The M&A Class Action Firm Continues To Investigate The Merger – NHHS, KVAC, AMPS, AVTE

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, March 17, 2025 (GLOBE NEWSWIRE) —

    Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm by ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating:

    • NorthStar Healthcare Income, Inc. (OTC: NHHS), relating to the proposed merger with Welltower Inc. Under the terms of the agreement, NorthStar Healthcare’s stockholders will receive $3.03 per share in cash.

    Click here for more https://monteverdelaw.com/case/northstar-healthcare-income-inc-nhhs/. It is free and there is no cost or obligation to you.

    • Keen Vision Acquisition Corp. (NASDAQ: KVAC), relating to its proposed merger with Madera Inc. Under the terms of the agreement, Keen Vision common stock will be canceled and converted into the right to receive a number of Madera common stock.

    Click here for more information: https://monteverdelaw.com/case/keen-vision-acquisition-corp/.   It is free and there is no cost or obligation to you.

    • Altus Power, Inc. (NYSE: AMPS), relating to the proposed merger with TPG. Under the terms of the agreement, Altus Power will be acquired by TPG for $5.00 per share of its Class A common stock in an all-cash transaction.

    ACT NOW. The Shareholder Vote is scheduled for April 9, 2025.

    Click here for more https://monteverdelaw.com/case/altus-power-inc-amps/. It is free and there is no cost or obligation to you.

    • Aerovate Therapeutics, Inc. (NASDAQ: AVTE), relating to a proposed merger with Jade Biosciences. Under the terms of the agreement, pre-merger Aerovate stockholders are expected to own approximately 1.6% of the combined company, while pre-merger Jade stockholders are expected to own approximately 98.4% of the combined entity.

    ACT NOW. The Shareholder Vote is scheduled for April 16, 2025.

    Click here for more information https://monteverdelaw.com/case/aerovate-therapeutics-inc-avte/. It is free and there is no cost or obligation to you.

    NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask:

    1. Do you file class actions and go to Court?
    2. When was the last time you recovered money for shareholders?
    3. What cases did you recover money in and how much?

    About Monteverde & Associates PC

    Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. 

    No company, director or officer is above the law. If you own common stock in any of the above listed companies and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

    Contact:
    Juan Monteverde, Esq.
    MONTEVERDE & ASSOCIATES PC
    The Empire State Building
    350 Fifth Ave. Suite 4740
    New York, NY 10118
    United States of America
    jmonteverde@monteverdelaw.com
    Tel: (212) 971-1341

    Attorney Advertising. (C) 2025 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com).  Prior results do not guarantee a similar outcome with respect to any future matter.

    The MIL Network

  • MIL-OSI New Zealand: RAISINA DIALOGUE 2025: KĀLACHAKRA – PEOPLE, PEACE AND PLANET

    Source: New Zealand Government

    Namaskar, Sat Sri Akal, kia ora and good afternoon everyone.
    What an honour it is to stand on this stage – to inaugurate this august Dialogue – with none other than the Honourable Narendra Modi.
    My good friend, thank you for so generously welcoming me to India and for our warm discussions this morning.
    I am a great admirer of your extraordinary achievements as Prime Minister.
    In the almost 11 years that you’ve occupied the Prime Minister’s office, you have weathered the COVID crisis and still managed to expand India’s economy by 50%.
    You have lifted 250 million of your countrymen out of poverty and eliminated extreme poverty.
    Today, India is at the leading edge of technology with massive innovative potential.
    You were the first country to land on the moon’s South Pole.  In the process drawing the world’s attention to India’s extraordinary technological prowess.
    And Prime Minister, during your tenure, the Men in Blue have been the most dominant side in cricket’s white ball competitions, most recently winning the Champions Trophy last week against my Men in Black and breaking many New Zealanders hearts – including mine – in the process!
    Congratulations!
    Among this catalogue of achievements is the reason we gather today: the Raisina Dialogue.  A forum that provides a moment every year for thought-leaders from across the world to focus their collective minds on the contemporary strategic challenges being navigated right here in the Indian Ocean.
    I applaud Dr Jaishankar and Samir Saran for the intellectual leadership they have shown driving this Dialogue over the past 10 years. 
    It has grown into a hugely influential forum.  Look no further than the luminaries you attract: 6 former Heads of Government and Ministers from over thirty countries.
    I hope my remarks today, add to the debate in some small way.
    Ladies and gentlemen, it’s more than 200 years since Indians and New Zealanders first began living side-by-side.
    At the beginning of the 19th century – well before we became a nation – Indian sailors jumped ship in New Zealand, with some meeting locals and marrying into our indigenous Māori tribes.  A few years later, Māori traders began travelling to Kolkata to sell tree trunks used in sailing ships.
    An exchange that echoes down the ages.
    Just as they were 200 years ago, Kiwi-Indians today are fully integrated into our multicultural society.  New Zealanders of Indian heritage comprise 11% of the people living in Auckland, our biggest city.
    I’ve brought with me to New Delhi a selection of Kiwi-Indian community leaders. Members of Parliament, captains of industry, professional cricketers and even an online influencer who has revolutionised investment for women the world over.  In short, a selection of Kiwi-Indians who get up every single morning to make New Zealand a better place to live.
    And our trade has diversified considerably from wood thanks to the increased sophistication of your economy.  India today is a critical source of pharmaceuticals and machinery for us. While we are a great tourism and education destination for you.
    India has become an ever more significant feature of our society.
    And yet, while there has been much that has developed and changed, there has been something missing at the core of our relationship.
    With a country as consequential as India, we need rich political interaction, engaged militaries, strong economic architecture, and connections that support a diaspora that bridges between our two great nations.
    Prime Minister Modi and I sat down today and charted out the future of our two countries’ relationship.
    A future that builds from where we have been.  One that is wholly more ambitious about what we will do together in the future. 

    We agreed to our Defence Forces building greater strategic trust with one another, while deploying together and training together more.
    We want our scientists collaborating on global challenges like climate change and on commercial opportunities like space.
    We are supporting our businesses to improve air links and build primary sector cooperation.
    We will facilitate students, young professionals and tourists to move between our countries.
    And we’ve instructed our trade negotiators to get on and negotiate a free trade agreement between our two great nations.

    A comprehensive agenda to underpin a comprehensive relationship. As we look to the future, the opportunity for both our governments is to sustain that momentum.
    Not only to follow through on the commitments we have made to one another. But to proactively build on that platform, by exploring new opportunities and creating new architecture.
    To ensure that we are creating strategic trust and commercial connection between two countries at the bookends of our wide Indo-Pacific region.
    Ladies and gentlemen, it is to the Indo-Pacific that I now turn.  There are many reasons to be excited about our region.  I want to single out the two biggest opportunities.
    First, India and New Zealand are fortunate enough to live in the world’s most economically dynamic region.
    The Indo-Pacific will represent two-thirds of global economic growth over the coming years.  By 2030, it will be home to two-thirds of the world’s middle-class consumers.
    And India itself lies at the heart of this exciting economic future.  It’s easy to focus on the troubles the world faces, but its worth reflecting for a moment on what economic development at this scale means at a human level.
    Here in India, you’ve gone from only the very few in rural areas having a water or power connection to almost everyone. It means people with better health and education outcomes.  And that creates hope and optimism about the future for individuals and their families.
    Replicated across literally hundreds of millions of people, that process of development generates dynamic economies.  Growth that offers massive opportunities for every country in the Indo-Pacific, and families and individuals within them.
    The second big opportunity is technological change.  We are on the cusp of a transformation of our economies and societies in a way that we can barely now imagine.
    I’m talking about artificial intelligence, which is within reach of achieving the cognitive powers of a human being.  But I’m also thinking of a range of other technologies – quantum, biotech, advanced manufacturing – that are going to have profound impacts on our economies.
    It has felt like this technological transformation has been long-heralded, but never quite arrived. Well, it seems to me that a series of innovations – the always online world, big data, powerful computing, machine learning – are cumulating in ways that are going to tip over into a dislocation that is new and altogether different. 
    The game is about to change.  We are on the cusp of an explosion in the application of AI, a technology that will have an impact across the whole economy, not just in one or two sectors. A technology that will transform the way we work, study and entertain ourselves.  A technology that will force governments to think in entirely different ways about how they deliver public services and secure their nations.
    Certainly, this presents risks that will need to be managed.  For example, militaries are already using AI, which means the international community is going to need to develop new norms about how this is done in a way that ensures compliance with the rules of war and ensures human responsibility in conflict.
    But my message is that, while we need manage change, we cannot allow ourselves to be paralysed by the risks.  For those who believe they can outcompete through this period of technological dislocation, the opportunities are there.  The citizens, the companies, and the countries that embrace the coming change will be the ones that reap the dividends. 
    Yet, there’s also no doubt that there are fundamental trend lines in the Indo-Pacific that present geo-strategic risks to growth and prosperity.
    These have long-term drivers that are not going away, and have been amplified by recent events.
    Past assumptions – that underpinned the previous generation’s geopolitical calculations – are being upended.
    A fortnight ago, the Singaporean Foreign Minister, Vivian Balakrishnan, put this change eloquently when he said: “the world is now shifting from unipolarity to multipolarity, from free trade to protectionism, from multilateralism to unilateralism, from globalisation to hyper-nationalism, from openness to xenophobia, from optimism to anxiety”.
    This is a global change, not isolated to one region. Certainly, though, we live today in an Indo-Pacific navigating contest and rivalry, with a period of strategic uncertainty.  I would highlight three big shifts that make for challenging times ahead.
    Fist, we are seeing rules giving way to power. 
    Previously, we could count on countries respecting the UN Charter, the Law of the Sea and world trade rules.  That sadly cannot be assumed in an age of sharper competition.
    Instead, we risk dangerous miscalculation at flashpoints. These range from the militarisation of disputed reefs to dangerous air movements.  From land border incursions to breakout nuclear capabilities.
    Of course, it is not just flashpoints, but a slow shift in Indo-Pacific realities that change calculations.  Recent demonstrations of naval force near New Zealand’s maritime surrounds, for example, sent a signal that alarmed many of my fellow citizens.
    Second, we are witnessing a shift from economics to security. 
    After the Cold War, the dominant paradigm in relations between Indo-Pacific countries was a sustained effort to raise material living standards by tending to our economies.
    Make no mistake, “bread and butter” issues still loom very large, and are a priority for governments all around the region.  Indeed, economic growth is my Government’s highest priority.
    But across the Indo-Pacific, we also see Governments dedicating increased attention and resource to military modernisation. Military build-ups reflect a need to prepare against uncertainty and insecurity.  Some military build-ups, however, are underway without the reassurance that transparency brings.
    National security demands are expanding.  Governments need to protect their people and assets against foreign interference, cyberattacks, and terrorism.
    In the last few months, a new threat has emerged, with damage to critical infrastructure, like sub-sea cables. You can’t have prosperity without security, not least when the tools of commerce themselves require protection.
    The third geo-economic shift is from efficiency to resilience. 
    Where previously, Indo-Pacific economies saw ever deeper interdependence as a dynamo for growth, that can no longer be assumed in an age of decoupling.
    Onshoring, protectionism and trade wars are displacing best price, open markets, and integrated supply chains.
    And so we find ourselves in a world that is growing more difficult and more complex, especially for smaller states.
    However, we must engage with the world as it is, not as we wish it to be. So, like most countries across the region, New Zealand’s strategic policy is being shaped by our assessment of these trends.
    We have agency to shape the Indo-Pacific that we want, but we must do so with energy and with urgency.
    Ladies and gentlemen, as New Zealand looks to protect and advance our interests in the Indo-Pacific, we can only do so alongside partners.  Partners like India that have a significant role to play in the Indo-Pacific.
    In an increasingly multipolar world, India’s size and geo-strategic heft gives you autonomy.  At the same time, your democratic partners in the Indo-Pacific offer you a force multiplier for our convergent interests. 
    For at a time when democracy is in decline with less than half the world’s adults electing their leaders, it is an inspiration that 650 million Indians turned out to vote last year in the largest election in history.
    Your national election is a triumph of logistics and a triumph of legitimacy.  An election that means your leaders serve their people, rather than your people serving their leaders.
    Now, I don’t advocate arbitrary divisions between democracies and autocracies. And just because we are democracies, we won’t always see eye-to-eye. 
    Nonetheless, there’s truth in the fact that our democratic governance means we share a belief in the freedom to choose, giving everyone a voice and respect for the rules.  Our interests increasingly converge around seeing these three ideas as an aligned set of organising principles for our Indo-Pacific region.
    First, we want to live in an Indo-Pacific where countries are free to choose their own path free from interference.
    A region where no one country comes to dominate.
    It is a sign of the times that I stand here defending respect for sovereignty. Yet, New Zealand’s approach is increasingly shaped around that objective.
    Just on Saturday, I joined a call led by Prime Minister Starmer focused on what more those contributing to Ukraine’s defence can do to support a just and lasting peace.  To help a country whose sovereignty and territorial integrity has been so flagrantly attacked.
    In my home region, our fellow Pacific neighbours are navigating geo-strategic dynamics that are their sharpest in nearly 80 years.
    In a deeply contested world, Pacific partners are being asked to make choices that may undermine their national sovereignty.  They risk falling into over-indebtedness, they must make choices about dual-use infrastructure, and they face pressure to enter new security arrangements.
    New Zealand invests in working alongside Pacific countries to boost their capacity to make independent choices free from interference. 
    Yet, size alone cannot inoculate a country from these dynamics.  Building strong and diversified relationships is the key to mitigating the risks of dependence on a few.
    That is why my Government is investing in our key relationships, from traditional partners to thickening and deepening our relationships across Southeast Asia, and in a serious way with India, too. 
    And we have a responsibility to invest in our own security as a downpayment on our future ability to choose our own path.  That is why New Zealand will be scaling up and doing more to support our own defence.
    We plan to better resource and equip our Defence Force to ensure we can continue to defend our interests.  Whether in our near region, in our alliance with Australia, or in support of collective security efforts with partners like India.
    Alongside this investment in capability, we are making tangible contributions across the Indo-Pacific.  When I was in Japan last year, I saw firsthand the work our aviators do to detect and deter North Korea’s sanctions-busting activities.
    The New Zealand Navy is leading Combined Task Force 150 responsible for multinational activities to protect trade routes and counter smuggling, piracy and terrorism in the Indian Ocean and Gulf of Aden. We are fortunate indeed that India has agreed to take up the Deputy Command.  Underlining these naval connections, one of our frigates, HMNZS Te Kaha, is in Mumbai later this week.
    As we seek an Indo-Pacific in which countries are free to choose their own path, I’m determined New Zealand plays its role.  Whether through our work with Pacific Islands partners, our relationships in the Indo-Pacific, or through our defence efforts.
    A second principle both India and New Zealand subscribe to is the criticality of Indo-Pacific regional institutions, even as these evolve.
    Regional architecture scaffolds our region’s security and its prosperity.
    ASEAN continues to promote regional peace and economic development. Through its convening power and its centrality, it also provides a place for the region’s players to come together to discuss strategic issues.
    ASEAN sits at the centre of the East Asia Summit, which for twenty years now has enabled political dialogue across the region, a forum that builds understanding, reduces the risk of miscalculation and contributes to strategic trust.
    Yet, the Indo-Pacific architecture is not static as it adapts to new realities.  Mini-lateral groupings are important new pieces of the puzzle.
    The Quad has emerged as an important vehicle promoting an open, stable and prosperous Indo-Pacific region.  India’s contribution to that evolution has of course been vital.  While New Zealand has no pretensions to Quad membership, we stand ready to work with you to advance Quad initiatives.
    We ourselves are strengthening our work with Japan and the Republic of Korea, as well as Australia.  Last year, I convened the Indo-Pacific Four to discuss Ukraine and North Korea. 
    And with serious headwinds buffeting the global trade system, New Zealand is seriously invested in Indo-Pacific trade and economic integration groupings.
    From CPTPP, the gold standard of FTAs internationally, to RCEP, perhaps the world’s most inclusive.
    And we welcome India’s engagement in the regional economic architecture, with our work together in the Indo-Pacific Economic Framework (IPEF), important in an era in which we seek to build one another’s resilience.
    The third Indo-Pacific principle we align around is a region in which respect for the rules is foundational.
    Globally, rules are being undermined: whether those around territorial integrity, freedom of navigation, or laws of war.  Yet, these are the very rules that preserve an Indo-Pacific order that is not “might is right” alone. 
    And, as I have said before, there is no prosperity without security. The rules that underpin our security also allow our businesses to operate with certainty. Those rules deliver daily in meaningful ways for our people.
    For example, one in four jobs in New Zealand rely on exports and our exporting businesses being able to depend on the predictability that those rules deliver. And in a miracle, that’s only possible thanks to globally-accepted aviation standards, 120,000 flights carry 12 million passengers and operate safely between their destinations every day.
    These rules shape the character of our region.  We remain committed to this rules-based system, even while acknowledging its shortcomings.  It is a truism that the world of 2025 is vastly different from 1945, and yet global institutions sadly have been slow to adapt.
    We are not talking about “starting over” by remaking the global order. Instead, I tend to agree with Dr Jaishankar when he says we want an order in which change is evolutionary – at a pace that is comfortable and steady.
    That’s why New Zealand supports reforming global governance frameworks to better reflect today’s realities.  Rather than casting them aside, they should give greater voice to the developing world and under-represented regions.
    Countries like India – that play such a central role in the global community – should have a seat at the table. We’ve therefore long supported India having a permanent seat on a reformed UN Security Council.
    Distinguished guests, ladies, and gentlemen.
    It has been a privilege to speak to you today, at this important forum for global dialogue.
    The geostrategic picture I’ve painted is stark.  Rules are giving way to power; economics to security; and efficiency to resilience.
    The tectonic shifts unfolding highlight that we – working alongside partners and friends – must navigate disruption, uncertainty, and sharpening pressure on our national interests.
    Yet, we will not be overwhelmed by complexity and challenge. We must go forward with confidence.
    We live at the heart of the world’s most exciting and dynamic region – the Indo-Pacific.
    We live in an era of technological transformation that offers outsized opportunities.
    We are countries with solid underlying democratic institutions, which will underpin our societies’ future success.
    India and New Zealand have extraordinarily talented people. 
    Both our countries have a clear plan that reflects and reinforces the connections between our security and prosperity. 
    We cannot afford to be thrown by the rapid pace of change – we must grapple with shifting realities and capitalise on these for all our peoples’ benefit.
    We will create and seize opportunities. Invest in our capabilities.
    This is our region. Its future will be shaped by the choices we make—together.
    Thank you, ngā mihi nui, and dhanyavaad .
     

    MIL OSI New Zealand News

  • MIL-OSI USA: Attorney General Bonta Defends Rule to Stop the Flood of Robocalls

    Source: US State of California

    Continues fight against annoying and illegal robocalls and robotexts  

    OAKLAND — California Attorney General Bonta today joined 28 attorneys general in submitting an amicus brief in Insurance Marketing Coalition v. FCC, in support of a Federal Communications Commission (FCC) rule which would limit unwanted robocalls and robotexts. The rule in question would close a loophole that allows lead generators to trick a consumer into “consenting” to calls from potentially thousands of companies. Lead generators engage in generating consumer interest on public facing websites with the goal of turning that interest into a sale — in this case, sale of consumer consent to other robocallers or robotexters. The brief defends the regulation, which was recently vacated by the Eleventh Circuit, and argues that it is within FCC’s statutory authority under the Telephone Consumer Protection Act.  

    “Everyone hates robocalls. Robocalls continue to top the list of most frequent consumer complaints across the country, and their annihilation continues to be a nationwide, bipartisan effort,” said Attorney General Bonta. “By closing the lead-generator loophole and putting an end to consent abuse, the Federal Communications Commission’s rule would substantially reduce unwanted telemarketing robocalls that bombard individuals and prohibit telemarketers from selling consumer consent to other callers — this is an essential tool in the effort to protect consumers from unwanted and often illegal robocalls.”

    In 2023, the FTC proposed a rule, supported by Attorney General Bonta and 28 attorneys general, which required that telemarketers and lead generators get specific one-to-one consent from consumers before subjecting them to robocalls or selling their contact information. Specifically, this meant that a consumer could not consent to a telemarketing or advertising robocall unless the consumer consented to calls from one entity at a time; this consent would also only cover subject matter associated with the original call. This rule aimed to both ensure that consent was in response to clear disclosure and to prevent lead generators, texters, and callers from using a single consumer written consent to inundate consumers with unwanted telemarketing robocalls and robotexts from dozens of sellers.

    Robocalls are often a vehicle for scams. For Californians, the impact of illegal and unwanted robocalls can range from a momentary nuisance to serious fraud involving identity theft or life-changing financial losses. Phone calls and text messages are by far the most common contact method for fraud, and in 2023 alone, fraudulent phone calls and texts led to more than $1.2 billion in reported financial losses nationwide, according to the Federal Trade Commission (FTC). Robocalls are typically the number one consumer complaint to the FTC each year. 

    Attorney General Bonta is committed to working to put a stop to illegal robocalls. Attorney General Bonta is part of the Anti-Robocall Multistate Litigation Task Force, a task force of 51 bipartisan attorneys general who investigate and take legal action against those responsible for routing significant volumes of illegal robocall traffic into and across the United States. 

    In 2024, Attorney General Bonta: 

    • Sent warning letters to four telecom companies for transmitting suspected illegal robocall traffic on their networks — including robocalls that impersonated government officials or involved scams.
    • Submitted a comment letter to the FCC in support of its proposed rules to protect consumers by increasing the effectiveness of the FCC’s Robocall Mitigation Database.
    • Sent a warning letter to a telecom company responsible for transmitting suspected illegal robocall traffic, including robocalls that impersonated government officials. 
    • Sent a warning letter to a company that allegedly sent New Hampshire residents scam election robocalls during the New Hampshire primary election. 
    • Filed a comment letter to the FCC related to the potential impact of emerging artificial intelligence (AI) technology on efforts to protect consumers from illegal robocalls or robotexts. 

    In May 2023, Attorney General Bonta, as part of a bipartisan coalition of 49 attorneys general, announced a lawsuit against Avid Telecom for allegedly initiating and facilitating billions of unlawful robocalls that included Social Security Administration scams, Medicare scams, and employment scams. 

    In submitting today’s brief, Attorney General Bonta joins the attorneys general of the District of Columbia, Arizona, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New York, North Carolina, Ohio, Oregon, Rhode Island, South Carolina, South Dakota, Utah, Vermont, Virginia, Washington, West Virginia, and Wisconsin.

    A copy of the brief can be found here.

    MIL OSI USA News

  • MIL-OSI: iQor CXBPO™ Appoints First Filipina Country Leader in the Philippines

    Source: GlobeNewswire (MIL-OSI)

    FORT LAUDERDALE, Fla., March 18, 2025 (GLOBE NEWSWIRE) — iQor CXBPO™, an award-winning customer experience business process outsourcing (BPO) solutions provider, today announced the appointment of Fleurette (Flo) Navarro as Regional President – Philippines, marking a historic leadership milestone as the first Filipina executive to lead the company’s Philippines’ organization. This appointment is part of a broader leadership realignment aimed at enhancing local decision-making, agility, and strategic growth across global markets.

    Country leaders will now oversee administration, facilities, human resources, and recruiting functions within their respective regions, enabling localized execution, streamlined decision-making, and seamless integration of local policies and cultural priorities. Sonia Goyal will lead Global Human Resources Operations, driving strategic HR initiatives and overseeing a Center of Excellence dedicated to transforming people practices through technology and AI.

    “These strategic leadership realignments reinforce our commitment to excellence, innovation, and employee engagement,” said Chief Administrative Officer Art DiBari. “Flo is the first Filipina executive to lead our Philippines organization—a milestone that brings immense pride to our team. We are confident these changes will enhance our ability to deliver world-class CX solutions while fostering an agile, collaborative, and people-centric culture.”

    As Regional President – Philippines, Navarro will oversee human resources, recruiting, and administrative functions in the Philippines, while managing external relationships with industry bodies, government agencies, and academic institutions. With 17 contact centers spanning the Philippine archipelago and a workforce of 31,000 in-country solutionists, this new role will drive continued growth in the region. Navarro will report to DiBari.

    With more than 25 years of experience in the BPO industry, Navarro has held senior leadership positions at HSBC, CapitalOne, and Tata Consultancy, gaining deep expertise in operations, account management, training, quality assurance, and human resources. Since joining iQor in 2017, she has played a pivotal role in reshaping the company’s talent strategy, earning Great Place to Work® Certifications™ in the Philippines, India, and Colombia. Most recently, as Global Chief People Officer (2023–2025), she led human resources, recruiting, payroll, compensation, and benefits strategies, significantly impacting iQor CXBPO™’s workforce and business outcomes.

    “I am honored to take on this role and excited to continue elevating iQor CXBPO™’s Philippines organization,” said Navarro. “Our people are at the heart of everything we do, and I look forward to strengthening our presence, fostering innovation, and driving meaningful results for our employees, clients, and stakeholders.”

    Goyal will lead Global Human Resources Operations, overseeing human resources and recruiting functions outside Colombia, India, the Philippines, and Trinidad and Tobago.

    Since joining iQor in 2014, Goyal has implemented transformative human resources strategies that have enhanced performance, profitability, and employee engagement. She has also led major global hiring initiatives, including the launch of iQor CXBPO™’s Trinidad sites and the expansion of bilingual operations in Medellín, Colombia.

    “I’m excited to lead our global HR operations at such a pivotal time for iQor CXBPO™,” said Goyal. “This realignment strengthens our ability to attract and retain top talent while driving excellence in HR practices worldwide.”

    For more information about iQor CXBPO™ and its leadership, visit www.iqor.com.

    About iQor CXBPO
    iQor CXBPO™ is a trusted partner in intelligent customer experience solutions, delivering exceptional results for global brands. With 40,000 employees across 10 countries, we combine 30 years of industry expertise with cutting-edge AI-driven innovations to optimize customer interactions at every stage. Our agile, scalable solutions ensure seamless omnichannel engagement, driving loyalty and measurable business success. Recognized as a Great Place to Work® and a leader in CX excellence, we elevate performance through a people-first approach, operational expertise, and secure, technology-enabled solutions. Learn more at iQor.com.

    The MIL Network

  • MIL-OSI United Nations: Giving Women Jobs ‘Smartest, Fastest’ Way to Grow Economy, Commission Told

    Source: United Nations General Assembly and Security Council

    The Commission on the Status of Women entered its second week today with an interactive dialogue on inclusive development, shared prosperity and decent work.  Speakers emphasized the urgency of turning gender equality commitments into concrete, actionable policies to ensure women have equal opportunities to improve their employment prospects and livelihoods.

    The Commission’s two-week annual session focuses on accelerating the implementation of the Platform for Action adopted at the 1995 conference on women in Beijing, where world leaders pledged to achieve gender equality and uphold women’s rights.  Discussions also focus on contributing to the achievement of the Sustainable Development Goals (SDGs).

    Women Friendly Tax Administration

    Diane Elson, Emeritus Professor of Sociology at the University of Essex, England, said that systemic barriers to women’s enjoyment of decent work include discrimination in hiring, misogyny, sexual harassment, violence in the workplace and lack of investment to reduce and redistribute unpaid work.  “Unfortunately, some of these barriers are actually intensifying in some countries, where there are now attempts to wipe from the record the gains that women and ethnic minorities and other minorities have made,” she said.  However, there are many things that can be done.  While inclusive development policies tend to garner wide support, there are many forms of inclusion that are impoverishing and exploitative.  It is therefore important to focus on “rights at work as well as the right to work, and to understand that economic growth does not necessarily create more jobs,” she stressed.  To that end, it is critical to improve women friendly tax administration systems for filing taxes.  “We need the elimination of tax breaks that do not increase investment and productivity and serve only to reduce tax payments for well off people and businesses,” she said.

    Access to Technology Training Key to Empowering Women  

    Corina Rodriguez, researcher at the National Council of Research and the Interdisciplinary Centre for the Study of Public Policy in Buenos Aires, Argentina, said that artificial intelligence (AI) and digitalization presents many opportunities to reduce gender disparities but also creates challenges and presents risks.  Technology might lead to a displacement of the working population to get cheaper labour, particularly in certain sectors where women are overrepresented, and those perhaps where the qualifications are lower.  Technology creates new employment opportunity in design, in goods and services, technological services, logistics, customer care — opportunities that women can seize.  “But it depends, of course, on whether they’re able to first access training in these careers,” she said.  “Women are under much more time pressure, because in addition to work, they have to very often care for other members of the family,” she said.  It is essential to ensure that women do not “fall into the work trap” and take on additional hours without additional pay while also having to balance numerous other responsibilities. 

    Lekha S. Chakraborty, Professor at National Institute of Public Finance and Policy (NIPFP) in New Delhi, India, called on Governments to “move beyond the paradigm” of the gross domestic product (GDP).  “The fiscal policy space is shrinking,” she went on to underscore, noting that funds to women’s programmes have been substantially cut in the post-pandemic landscape.  However, it still remains true that the “smartest and fastest” way to increase GDP is to have women involved in economic growth through employment and empowerment.  “There are challenges with the care economy infrastructure,” she emphasized, spotlighting a sector of the economy where women are overrepresented.  In the post-pandemic paradigm “conscious public policy decisions are crucial”, she added.  Gender-responsive budgeting should not be confined solely to “what is specifically targeting women”.  She discussed the connection between gender bonds and fiscal policy, stating that in countries with high fiscal deficits, internal bond financing could be tied to gender equality outcomes.  However, she cautioned against linking bond financing to external funding, as it is subject to external factors, which carry inherent risks.  She emphasized that there are innovative approaches to addressing this issue.  “Public financial management reforms for climate change are currently under way without being tied to a job guarantee,” she added.

    Gender Mainstreaming

    Barbara Ky, director of gender at the West African Economic and Monetary Union, discussed how the Union is working to translate gender perspective and gender equality commitments into practical public policies that can be implemented by Governments and thereby enhance women’s employment prospects and livelihoods.  The Union has developed guidelines, digital tools and information technology procedures that are carried out by the sectoral ministry in each of the Union’s member country.  Public policy is based on goals that will integrate a gender perspective.  “This requires mainstreaming the gender perspective and integrating it into every stage of planning, programming, budgeting and implementation,” she said.  At the highest level all documents prepared by Government ministries should include a gender-related aspect “so that public policy is truly permeated by an awareness of these issues and gender has to be taken into account from the initiative of the process,” she said.  For example, to address the issue of women’s unpaid employment, the hours that women spend bringing water to the household, compared with men, has been assessed.  Planning programmes need to be aware of women’s contributions.

    Women Spend 4.5 Hours Daily on Unpaid Care Work

    Marija Babovic, a professor affiliated with the University of Belgrade, shared her perspective on the sustained negative impact that unpaid work has on women’s employment, income and economic security.  These negative impacts are increasing as more women work in unpaid care and in unprotected domestic work.  She noted that while in developed countries many women have entered the formal labour market since the 1970s, women and girls still provide more than three fourths of the unpaid care work around the world.  For example, women spend 4 hours and 25 minutes each day on these activities while men spend 1 hour and 23 minutes each day on the same type of activities.  More than 600 million women are working outside the paid labour force because of their care responsibilities, compared with 41 million men.  “Unpaid work lowers women access to the labour market and paid work and is a factor in their higher financial poverty and time poverty,” she said.  The paid care economy accounts for 11.5 per cent of the global economy, including jobs in such areas as childcare, disability care, aged care and paid domestic work.  However, “across the world, paid care work remains characterized by a lack of rights, benefits or protections, low wages or non-compensation,” she said, adding that some women are subject to physical, mental and even sexual harassment.

    The discussion was moderated by Anita Kemi DaSilva-Ibru, founder of the Women at Risk International Foundation (WARIF), a leading non-profit organization that addresses the prevalence of sexual violence in Nigeria and Africa.

    The Commission also held a second interactive dialogue this afternoon on poverty eradication, social protection, and social services.

    __________

    *     The 12th meeting was not covered.

    MIL OSI United Nations News

  • MIL-OSI USA: Sen. Donzella James to Hold Diaspora Day Press Conference

    Source: US State of Georgia

    ATLANTA (March 17, 2025) — Tomorrow, March 18, at 1:00 p.m., Sen. Donzella James (D–Atlanta) will hold a press conference on Diaspora Day.

    MEETING DETAILS:                      

    • Date: Tuesday, March 18, 2025
    • Time: 1:00 p.m.
    • Location: South Steps, State Capitol, 206 Washington St SW, Atlanta, GA, 30334
    • This event is open to the public.

    ABOUT THE PRESS CONFERENCE:         

    Sen. James will speak on the importance of International Diaspora Day. International Diaspora Day is observed annually and recognizes the economic, social and cultural impact of individuals who have migrated from their countries of origin while maintaining strong ties to their heritage. The day serves as a platform for discussions on policies that support diaspora engagement, international cooperation and the role of global communities in fostering development and unity.

    MEDIA OPPORTUNITIES:
    We kindly request that members of the media confirm their attendance in advance by contacting Jantz Womack at SenatePressInquiries@senate.ga.gov.


    # # # #


    Sen. Donzella James serves as the Chair of the Senate Committee on Urban Affairs. She represents the 35th Senate District, which includes portions of Douglas and Fulton counties. She may be reached by phone at 404.463.1379 or by email at
    donzella.james@senate.ga.gov

    MIL OSI USA News

  • MIL-OSI Australia: ACT is reducing over-representation of Aboriginal and Torres Strait children in out of home care

    Source: Government of Australia Capital Territory



    As part of ACT Government’s ‘One Government, One Voice’ program, we are transitioning this website across to our . You can access everything you need through this website while it’s happening.


    Released 03/03/2025

    Minister for Children, Youth and Families, Michael Pettersson MLA, said the 2024 Family Matters Report, released by SNAICC on 21 November 2024, highlights progress in addressing the over representation of Aboriginal and Torres Strait Islander children and young people in out of home care.

    “Notably, the ACT is one of only two jurisdictions that have reduced the rate of over-representation of Aboriginal and Torres Strait Islander children and young people in out of home care,” Minister Pettersson said.

    “The rate of Aboriginal and Torres Strait Islander children and young people in the ACT in out of home care has decreased from 14 children per 1000 in 2022 to 11.7 in 2023. Contributing to this positive result is the comprehensive reform program being undertaken across the Children, Youth and Families system and the ongoing implementation of the recommendations from the Our Booris Our Way Final Report.”

    “The Family Matters report underscores the importance of children growing up safe and cared for within their family, community, and culture. It also provides critical data on children’s interactions with child protection systems and projects future trends in over-representation if current conditions persist.”

    “Today also marks a significant moment between the Community Services Directorate and the Our Booris Our Way Implementation Oversight Committee. Both parties will recommit to continued collaboration to implement the recommendations from the Final Report.”

    ”Our Booris Our Way Implementation Oversight Committee, in partnership with the ACT Government, has worked hard over the last 6 years to drive real and enduring change. Changes that benefit our children and families but will also have a positive impact on the experiences of ALL children and families in the ACT,” said Natalie Brown, Chair of Our Booris Our Way Committee.

    Several milestones have been achieved through the partnership between the Our Booris Our Way Implementation Oversight Committee and the ACT Government, including:

    • Embedding the Child Placement Principle into the Children and Young People Act 2008;
    • Continued funding of the Care and Protection Legal Advocacy Service;
    • Commencement of the ACT Aboriginal and Torres Strait Islander Children and Young People Commissioner.

    “Together we must ensure that our children and young people in the Canberra community have greater opportunity to reach their full potential by growing up safe and supported”, Natalie Brown, Chair of Our Booris Our Way Committee said.

    – Statement ends –

    Michael Pettersson, MLA | Media Releases

    «ACT Government Media Releases | «Minister Media Releases

    MIL OSI News

  • MIL-OSI Security: Upgraded FOIA.gov Search Tool Delivers Improved Results

    Source: United States Attorneys General 7

    The FOIA.gov Search Tool was recently upgraded to leverage advancements in machine learning. This upgrade is expected to significantly improve the results and resources it delivers to the public.  Initially launched in October 2023, the Search Tool helps users locate already-public information or the correct agency to submit a Freedom of Information Act (FOIA) request.

    The Search Tool contains guided journeys for users seeking commonly-requested records, such as travel or military records, as well as a search box for custom queries.  Since launch, users have submitted almost 200,000 common topic or custom query searches.  In response to custom queries, the Search Tool recommends federal agencies likely to have responsive records and directs users to documents already posted by agencies on their agency websites that may satisfy the query.  Previously, the Search Tool generated these results based on agency mission statements, FOIA logs, and the titles of agencies’ posted frequently requested records.

    Since October 2023, advancements in machine learning technology have made significant improvement to the Search Tool possible.  After ingesting over 40,000 documents from over 3,500 publicly available FOIA Libraries using a new data ingestion tool and extensive testing and refining of the model, the improved Search Tool delivers document results based on the complete contents of published documents (not only the title, as was done previously), in addition to mission statements and FOIA logs.  This improves the accuracy of both the agencies it recommends and the documents it suggests.  Moving forward, the Search Tool will be updated quarterly with newly published material from agency FOIA Libraries to keep the results current.

    We encourage agencies and the public to engage with the improved Search Tool and provide feedback.  To learn more about the Search Tool and to provide suggestions, visit the How it Works page.  OIP is always interested in improving the usability of FOIA.gov and will continue to monitor and improve the performance of the Search Tool to make it easier for the public to locate government information. 

    MIL Security OSI

  • MIL-OSI: Varonis Acquires Cyral to Reinvent Database Activity Monitoring

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, March 17, 2025 (GLOBE NEWSWIRE) — Varonis Systems, Inc. (Nasdaq: VRNS), the data security leader, today announced the acquisition of the next-generation database activity monitoring (DAM) provider Cyral.

    Cyral’s innovative approach to DAM uses agentless and stateless interception technology that deploys quickly and overcomes the challenges legacy vendors face in preventing data breaches and ensuring compliance.

    “By combining Cyral’s cloud-native DAM with Varonis’ robust and growing database security capabilities, customers can begin to upgrade their costly legacy solutions, shattering the silos that have traditionally separated structured and unstructured data security,” said Varonis CEO, President, and Co-founder Yaki Faitelson. “With this acquisition, we are addressing the most difficult database security challenges, and equipping our customers with a modern, end-to-end platform.”

    A structured data explosion fueled by cloud and AI

    The database market is set to explode to $225 billion by 2028. Giants like Databricks and Snowflake have unlocked virtually unlimited capacity and frictionless access to databases, data lakes, and data pipelines. Meanwhile, vector databases, the foundation of AI model training and processing, are challenging security teams with unprecedented scale, volume, and complexity.

    Organizations struggle to secure thousands of managed, unmanaged, and on-prem databases storing their most critical PII, intellectual property, and AI training data. Lack of competition and complex barriers to entry have stifled innovation in the DAM market. The AI era demands a new and novel approach to database security.

    A unified Data Security Platform

    The days of fragmented data security products are ending. Varonis protects data wherever it lives, at rest or in motion, from a single unified platform—enabling organizations to continuously reduce their sensitive data exposure and respond to threats in the age of AI.

    Cyral was co-founded by Manav Mital, who identified the crucial need to manage databases at scale using cloud-native technology. “Varonis’ acquisition of Cyral brings together a shared vision for securing customers’ data end-to-end as AI ushers in a new era of growth and innovation,” said Cyral Co-Founder and CEO Manav Mital. “The lifeblood of AI is data, and Varonis is leading the charge by driving automated data security outcomes at scale.”

    The acquisition is not expected to have a material impact on revenue this year.

    Additional Resources

    Forward-Looking Statements

    This press release contains “forward-looking” statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance but are based on management’s expectations as of the date of this press release and assumptions that are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements. Important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements include the following: the impact of potential information technology, cybersecurity or data security breaches; risks associated with anticipated growth in Varonis’ addressable market; general economic and industry conditions, such as foreign currency exchange rate fluctuations and expenditure trends for data and cybersecurity solutions; Varonis’ ability to predict the timing and rate of subscription renewals and their impact on the Company’s future revenues and operating results; risks associated with international operations; the impact of global conflicts on the budgets of our clients and on economic conditions generally; competitive factors, including increased sales cycle time, changes in the competitive environment, pricing changes and increased competition; the risk that Varonis may not be able to attract or retain employees, including sales personnel and engineers; Varonis’ ability to build and expand its direct sales efforts and reseller distribution channels; risks associated with the closing of large transactions, including Varonis’ ability to close large transactions consistently on a quarterly basis; new product introductions and Varonis’ ability to develop and deliver innovative products; Varonis’ ability to provide high-quality service and support offerings; the expansion of cloud-delivered services; and risks associated with our convertible notes and capped-call transactions. These and other important risk factors are described more fully in Varonis’ reports and other documents filed with the Securities and Exchange Commission and could cause actual results to vary from expectations. All information provided in this press release is as of the date hereof, and Varonis undertakes no duty to update or revise this information, whether as a result of new information, new developments or otherwise, except as required by law.

    About Varonis

    Varonis (Nasdaq: VRNS) is the leader in data security, fighting a different battle than conventional cybersecurity companies. Our cloud-native Data Security Platform continuously discovers and classifies critical data, removes exposures, and detects advanced threats with AI-powered automation.

    Thousands of organizations worldwide trust Varonis to defend their data wherever it lives — across SaaS, IaaS, and hybrid cloud environments. Customers use Varonis to automate a wide range of security outcomes, including data security posture management (DSPM), data classification, data access governance (DAG), data detection and response (DDR), data loss prevention (DLP), AI security, and insider risk management.

    Varonis protects data first, not last. Learn more at www.varonis.com.

    Investor Relations Contact:
    Tim Perz
    Varonis Systems, Inc.
    646-640-2112
    investors@varonis.com

    News Media Contact:
    Rachel Hunt
    Varonis Systems, Inc.
    877-292-8767 (ext. 1598)
    pr@varonis.com

    The MIL Network

  • MIL-OSI United Nations: Committee on Enforced Disappearances Opens Twenty-Eighth Session

    Source: United Nations – Geneva

    The Committee on Enforced Disappearances this morning opened its twenty-eighth session, during which it will examine the reports of the Central African Republic, the Gambia and Malta on their implementation of the provisions of the International Convention on the Protection of All Persons from Enforced Disappearance.

    The Committee will also review follow-up and addition information provided by Panama, Serbia and Belgium, as well as by Peru and Argentina, for the latter two States in the context of a special request made in the light of recent developments in these two countries.

    Opening the session, Antti Korkeakivi, Chief of the Human Rights Treaties Branch at the Office of the High Commissioner for Human Rights and Representative of the Secretary-General, said the global landscape today was fraught with challenges that continued to highlight the urgency and necessity of eradicating the heinous crime of enforced disappearances. 

    Mr. Korkeakivi welcomed that, since the last session, Poland became party to Convention, which now had 77 States parties.  The holding of the World Congress on Enforced Disappearances, held in Geneva two months ago, was a pivotal step in joining forces to address enforced disappearances and to encourage ratification of the Convention.  Since the last session, the Committee had registered 120 new urgent actions, bringing the number of registered urgent actions to a total of 2,003 since 2012.  Out of these cases, 518 have been closed following the location of the disappeared person, including 410 alive.

    Olivier de Frouville, Committee Chairperson, in his opening statement, said the substantive work, the day-to-day work of the treaty bodies, was carried out by the members of the Office of the High Commissioner for Human Rights, and they should be recognised.  Investing in human rights was an investment in security and development.  However, the crisis in which multilateral organizations were experiencing, which also affected the human rights protection system, could not be ignored. 

    It was practically impossible for the Committee to carry out regular monitoring, with more than 2,000 cases now recorded.  Yet the victims were counting on the Committee.  The Committee looked forward to the evaluation process under Measure 46, from the Pact of the Future, on adequate, predictable, more substantial and sustainable funding to enable the treaty bodies to carry out their mandates efficiently and effectively.

    During the meeting, Obeida Dabbagh, recounted his family’s searched for justice after the arrest and subsequent enforced disappearance of his brother Mazen Dabbagh, and his son Patrick in November 2013 by the Syrian Air Force intelligence. 

    Committee Expert Fidelis Kanyongolo thanked Mr. Dabbagh for sharing his story and underlined the importance of extra-territorial jurisprudence in the Committee’s work. 

    Before closing the meeting, the Committee adopted its agenda for the session.

    All the documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage. Webcasts of the meetings of the session can be found here, and meetings summaries can be found here.

    The Committee will next meet in public at 10 a.m. on Tuesday, 18 March, to review additional information on the report of Serbia (CED/C/SRB/AI/1).

    Statements 

    ANTTI KORKEAKIVI, Chief, Human Rights Treaties Branch at the Office of the High Commissioner for Human Rights and Representative of the Secretary-General, thanked the five Members of the Committee whose first mandate would come to an end next June.  In accordance with the Convention, some may be re-elected by the States parties. States parties were called on to nominate well qualified candidates, as the deadline had been extended. 

    The global landscape today was fraught with challenges that continued to highlight the urgency and necessity of eradicating the heinous crime of enforced disappearances. Enforced disappearances remained a pervasive violation of human rights, contributing to a climate of fear, despair and injustice.  It was therefore important to work towards universal ratification of the Convention. Since the last session, Poland became the seventy-seventh State party to the Convention, which should be celebrated. 

    The holding of the World Congress on Enforced Disappearances, held in Geneva two months ago, was a pivotal step in joining forces to address enforced disappearances and to encourage ratification of the Convention.  It gathered more than 620 participants in Geneva and 1,392 persons online, coming from 118 countries and all regions of the world.  The event concluded with a call to action and unveiling of key follow-up activities.  These initiatives included the creation of a victim-led regional network in Africa; the organization of regular meetings of women searchers; the promotion of civil society contributions to the sessions of the Committee; and the creation of a global youth network against enforced disappearances.  States were called on to support them without delay. 

    Enforced disappearances had a disproportionate impact on women.  During the session, the Committee would consider a draft concept note for the elaboration of a general comment on women and girls and enforced disappearances.  Since the last session in September, the Committee undertook a two week-visit to Colombia, the report of which would be considered during the session.  During the session, the Committee would address the situation of enforced disappearances in 14 other States parties to the Convention, and the consideration of an individual complaint. 

    Through the Committee’s work on urgent actions, the Committee could request a State party to take immediate action to search for a disappeared person and to investigate his or her disappearance.  Since the last session, the Committee had registered 120 new urgent actions, bringing the number of registered urgent actions to a total of 2,003 since 2012. Out of these cases, 518 have been closed following the location of the disappeared person, including 410 alive. This meant that 1,481 urgent actions remained active, requiring follow-up by the Committee.

    The periodic reports on urgent actions adopted at each session traced the general trends in the cases and the Committee’s jurisprudence on urgent actions.

    The Secretary-General’s latest report on the treaty body system highlighted the fact that due to insufficient staff resources, the Committee was facing challenges in handling urgent action requests and ensuring follow-up in a timely manner.  In addition to the chronic resource constraints, the liquidity crisis had hampered the planning and implementation of the Committee’s work.  While the Office was doing its utmost to ensure that the Committee and other treaty bodies could implement their mandates, all indications pointed to a continuation of the difficult liquidity situation for the foreseeable future. 

    Despite the challenging circumstances, the treaty body strengthening process remained active. It reached a key moment, with the adoption last December of the biennial resolution on the treaty body system by the General Assembly.  On the occasion of Human Rights Day last year, the Geneva Human Rights Platform, in cooperation with the Office and the Directorate of International Law of the Swiss Federal Department of Foreign Affairs, organised an informal meeting of the Chairs and focal points on working methods.  The meeting explored the latest developments on the treaty body system and sought to identify possible ways to improve harmonisation of procedures and brainstorm on the way forward. 

    Mr. Korkeakivi concluded by saying that the eradication and prevention of enforced disappearances demanded unwavering commitment and concerted action.  The work of the Committee was at the core of these efforts, despite the challenging circumstances.  The Office looked forward to continuing to support the Committee in implementing its imperative mandate. 

    OLIVIER DE FROUVILLE, Chairperson of the Committee on Enforced Disappearances, said the substantive work, the day-to-day work of the treaty bodies, was carried out by the members of the Office of the High Commissioner for Human Rights, and they should be recognised. 

    Human rights currently faced particularly vicious rhetoric.  Ideologues were using the art of reversing arguments that totalitarian movements were already practicing in the 1930s.  All those who had worked alongside the families of the disappeared were familiar with this misleading rhetoric: the disappeared were often stigmatised as nuisances to society or even as criminals.  All over the world today, the return of this madness could be seen, and with it the return of enforced disappearance, torture and executions to bring society to heel and silence all dissent.  It was important to continue to bear witness to this, and for the Committee to continue to meet and organise.

    The First World Congress on Enforced Disappearances was an extraordinary demonstration of the strength and resilience of the global movement against enforced disappearances. The families of the disappeared came in large numbers from all continents to testify and exchange their experiences, their challenges, their struggles, the adversity they faced, and the means to overcome it.  The Congress underscored the commitment of the major international non-governmental organizations and regional human rights protection organs. 

    Sixteen States came publicly to the opening to announce their commitments and pledges; 86 per cent of attendees felt that the Congress would have a direct impact on their work, while 90 per cent expressed their wish to actively contribute to the implementation of the priority actions identified during the Congress.  This week the report of the Congress would be published; it would summarise all the activities that took place there, but also all the commitments made.  It was now important that all partners organised themselves to follow up on these commitments within the year, including a significant acceleration in the pace of ratifications of the Convention to achieve near-universality within a reasonable time.  To do this, resources were needed.

    Investing in human rights was an investment in security and development.  However, the crisis which multilateral organizations were experiencing, which also affected the human rights protection system, could not be ignored.  It was practically impossible for the Committee to carry out regular monitoring, with more than 2,000 cases now recorded.  Yet the victims were counting on the Committee.  The Committee looked forward to the evaluation process under Measure 46, from the Pact of the Future, on adequate, predictable, more substantial and sustainable funding to enable the treaty bodies to carry out their mandates efficiently and effectively.

    The General Assembly, in its last resolution on the Committee system, did not take into consideration the pragmatic and realistic proposals made by the treaty bodies, particularly with a view to reforming the reporting procedure.  However, all parties agreed on a necessary reform. But the States seemed undecided and were presenting difficult conditions.  The thirty-sixth official meeting of the Presidents was an opportunity for a constructive exchange with a view to reaching new proposals for action and improvements. 

    The Committee was ahead of the curve and did not have a periodic reporting system.  States must submit a report within two years of ratification.  This was the subject of constructive dialogue and concluding observations, as would be the case at this session for the Gambia, the Central African Republic and Malta. States were then called upon to come back to the Committee after a few years to take stock of the implementation of the recommendations made in the concluding observations.  Thus, at the session, the Committee would consider follow-up and additional information provided by Panama, Serbia and Belgium, as well as by Peru and Argentina, in the context of a special request, made in light of recent developments in these two countries.

    OBEIDA DABBAGH, said his brother Mazen Dabbagh, an educational advisor at the French Lycée Charles de Gaulle in Damascus, and his son Patrick, a psychology student at Damascus University, were arrested in November 2013 by Syrian Air Force intelligence. Their arrest, at first arbitrary, turned into an enforced disappearance, then into an ordeal marked by atrocious torture, as revealed by testimonies and court documents.  In 2018, the Syrian regime declared them dead, years after their disappearance, while putting forward false causes of death.  These arrests were not motivated by substantiated charges; neither Mazen nor Patrick were involved in protests against the regime, which underscored the indiscriminate and systemic brutality of a regime that preyed on entire families to establish its rule through terror.

    In November 2013, the family took steps with the Syrian, French and international authorities, including the President of the French Republic, the Minister of Foreign Affairs, as well as several parliamentarians and human rights organizations, including the Red Cross and European Union.  In 2016, in collaboration with the International Federation for Human Rights, a complaint was filed with the Paris Prosecutor’s office for crimes against humanity.  This was a turning point in the fight, allowing the French justice system to open an investigation and collect crucial testimonies, particularly from Syrian deserters.  This investigation led to an indictment order in March 2023, sending three senior Syrian regime officials to trial for complicity in crimes against humanity and war crimes.

    There were many obstacles.  In Syria, asking for news of Mazen and Patrick exposed loved ones to serious reprisals.  The Syrian regime, in addition to torture and executions, extorted the family, eventually expelling Mazen’s wife and daughter from the family home in Damascus.  But despite these hardships, Mr. Dabbagh remained committed.  Through this legal action, he wanted not only to obtain justice for Mazen and Patrick, but to participate in the global fight against the atrocities committed by the Syrian regime.  The trial held in France from 21 to 24 May 2024 against Syrian officials was a historic step forward, which would hopefully inspire other families of Syrian victims to continue their quest for justice, despite the obstacles. 

    After the fall of the Assad regime, there was hope that the new authorities would take ownership of the issue of enforced disappearances, which concerned hundreds of thousands of people, through transitional justice.  The truth must be established, justice must be done, reparation must follow, without which reconciliation between communities could not be achieved.  Mr. Dabbagh hoped that in the near future the family would be able to know the place where his brother and nephew were buried, to give them a dignified burial, and to be able to finally mourn.

    FIDELIS KANYONGOLO, Committee Expert, conveyed sincere gratitude to Mr. Dabbagh for taking the time to present his testimony and for being willing to revisit painful memories.  The testimony reinforced the heavy responsibility that lay upon the shoulders of the members of the Committee.  The concept of extra-territorial jurisdiction was particularly important in the Committee’s work.  In a world where many States continued to demonstrate reluctance to ratify the Convention, the ability of courts of willing countries to punish human rights violations was critical.  In this case, it was important to note that Syria had not ratified the Rome Statute, no resolution from the United Nations Security Council to refer the situation to the International Criminal Courts, and the domestic justice system was neither independent nor accountable.  Extra-territorial jurisdiction affirmed the idea that human rights were universal.

    Mr. Dabbagh’s testimony showed that although the legal pathways existed for invoking extra-territorial jurisdiction, many practical hurdles continued to limit its potential as a tool for its application in specific cases.  It was hoped the testimony would act as a constant reminder for the Committee that they were dealing with the lives of real people who suffered the consequences of enforced disappearances, and that opportunities existed in jurisprudence to maximise the human rights protection extended to ordinary citizens of countries.

     

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

     

     

     

     

    CED25.001E

     

    MIL OSI United Nations News

  • MIL-OSI Asia-Pac: Digitization of Cultural Heritage in India

    Source: Government of India

    Posted On: 17 MAR 2025 5:28PM by PIB Delhi

    “It shall be the Duty of Every Citizen of India to Value and Preserve the Rich Heritage of Our Composite Culture”

     Constitution of India

     

    Introduction

    India is one of the largest repositories of tangible heritage, with monuments, sites, and antiquities spanning from prehistoric times to the colonial era. While various organizations like the ASI, State Archaeology Departments, and INTACH have documented parts of this heritage, much remains scattered or undocumented. The absence of a unified database makes research, conservation, and management challenging. To address this, the National Mission on Monuments and Antiquities (NMMA) was launched to systematically document and digitize built heritage, sites, and antiquities. Through standardized documentation, training programs, and public awareness, NMMA aims to create a comprehensive national database, ensuring the preservation of India’s rich cultural legacy.

    National Mission on Monuments and Antiquities (NMMA)

    Established in 2007, the NMMA is responsible for the digitization and documentation of India’s built heritage and antiquities. It has made significant progress in compiling national registers for monuments and antiquities.

    Achievements of NMMA:

    • Digitization of Antiquities: 12,34,937 antiquities have been digitized, including 4,46,068 from ASI Museums/Circles/Branches and 7,88,869 from other institutions.
    • Built Heritage & Sites: 11,406 sites and monuments have been documented.
    • Budget Allocation: Rs. 20 lakh were allocated for NMMA in the FY 2024-25.

    Objectives of NMMA:

    • Documenting and creating a national database of built heritage, monuments, and antiquities for better management and research.
    • Ensuring uniform documentation of antiquities across central, state, private institutions, and universities.
    • Raising awareness about cultural heritage preservation.
    • Providing training and capacity building for state departments, local bodies, museums, NGOs, and universities.
    • Enhancing collaboration between the Archaeological Survey of India (ASI), state departments, and other stakeholders.
    • Publication and Research

    Ancient Monuments and Archaeological Sites and Remains Act 1958

    The Ancient Monuments and Archaeological Sites and Remains Act 1958 (AMASR Act 1958) was enacted by the Parliament with an aim “to provide for the preservation of ancient and historical monuments and archaeological sites and remains of national importance, for the regulation of archaeological excavations and for the protection of sculptures, carvings, and other like objects.

    As per the AMASR Act 1958, the following are the definitions of ancient monuments:

    “Ancient monument” means any structure, erection, or monument, or any tumulus or place of internment, or any cave, rock sculpture, inscription, or monolith, which is of historical, archaeological, or artistic interest and which has been in existence for not less than one hundred years, and includes:

    · The remains of an ancient monument

    · The site of an ancient monument

    · Such portion of land adjoining the site of an ancient monument as may be required for fencing, covering, or otherwise preserving such monument

    · The means of access to, and convenient inspection of, an ancient monument

     

    The scope of documentation of Built Heritage by the National Mission on Monuments and Antiquities (NMMA) has been enhanced by defining any structure that belongs to the pre-independence period, and the year 1950 has been considered as the cut-off date keeping in view of historical importance.

     

    Antiquity & Art treasure

    As per the Antiquities and Art Treasures Act, 1972, the following are the definitions of antiquity and art treasure:

    (a) “antiquity” includes
    i) Any coin, sculpture, painting, epigraph, or artistic/craftsmanship work.
    (ii) Any object detached from a building or cave.
    (iii) Any item reflecting science, art, literature, religion, customs, or politics of bygone eras.
    (iv) Any historically significant object.
    (v) Any item declared an antiquity by the Central Government, existing for at least 100 years.
    (b) any manuscript, record, or other document which is of scientific, historical, literary, or aesthetic value and which has been in existence for not less than seventy-five years;

    (c) “art treasure” means any human work of art, not being an antiquity, declared by the Central Government by notification in the Official Gazette, to be an art treasure for the purposes of this Act having regard to its artistic or aesthetic value.

    Digitization Guidelines

    To create a national digital database, NMMA has set standards for uniform documentation:

    • Photographs of built heritage/sites (from secondary sources) should be in uncompressed TIFF format (300 dpi resolution).
    • Antiquities should be photographed in uncompressed TIFF (300 dpi). If taken in NEF/RAW format, they must be converted to TIFF without alterations.
    • Miniature paintings can be either photographed or scanned in TIFF (300 dpi) with a suitable background.
    • All documentation should be stored in MS Excel format with separate sheets for each antiquity, heritage site, or built structure.
    • Photographs should be included in the documentation sheet and also stored separately as master images.

    Indian Heritage in Digital Space (IHDS) Research

    The IHDS initiative focuses on utilizing modern digital technologies to preserve and share India’s heritage beyond mere documentation. It aims to create immersive experiences and analytical tools for scholars and the general public.

    Objectives of IHDS:

    1. Promoting research in digital heritage technologies with an emphasis on Indian cultural assets.
    2. Developing a crowdsourcing framework to engage the public in building digital heritage collections.
    3. Establishing a storage, curation, and distribution mechanism for multimedia heritage resources to support interdisciplinary research.

     

    The Role of Digital Technologies in Heritage Preservation

    Digital tools such as 3D scanning, virtual reality, computer vision, and artificial intelligence have transformed heritage preservation. These technologies allow for:

    • The creation of high-resolution digital archives of manuscripts, monuments, and artifacts.
    • Virtual reconstructions of lost or damaged heritage structures.
    • Interactive experiences for education and tourism.
    • Enhanced research capabilities for historians, architects, and scientists.

    Conclusion

    The digitization and documentation of India’s cultural heritage are crucial for its preservation and accessibility. The National Mission on Monuments and Antiquities (NMMA) plays a vital role in this effort by standardizing records, training stakeholders, and promoting public awareness. By leveraging technology and collaboration, NMMA ensures that India’s vast heritage is systematically documented, protected, and made available for research and education. A unified and comprehensive database will not only aid in conservation but also strengthen cultural identity for future generations.

     

    References

    Digitization of Cultural Heritage in India

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    Santosh Kumar/ Sarla Meena/ Anchal Patiyal

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    MIL OSI Asia Pacific News