HOUSTON, April 14, 2025 (GLOBE NEWSWIRE) — Amplify Energy Corp. (NYSE: AMPY) (“Amplify” or the “Company”) today announced that it intends to open and immediately adjourn its Special Meeting of Stockholders (the “Special Meeting”) relating to the Company’s proposed merger with Juniper Capital’s upstream Rocky Mountain portfolio companies. There will be no voting or other matters conducted at the meeting on April 14, 2025, and the Company intends to reconvene the Special Meeting on April 23, 2025 at 9:00 a.m. Central Time (and the adjourned meeting will be held virtually via the internet at www.cesonlineservices.com/ampysm_vm). The record date for the Special Meeting, March 3, 2025, is unchanged and applies to the reconvened Special Meeting.
The Special Meeting will be adjourned to allow for further time to solicit proxies from the Company’s stockholders and provide stockholders with additional time to vote in order to facilitate broader participation. Stockholders who have already cast their votes do not need to take any action, unless they wish to change or revoke their prior proxy or voting instructions, and their votes will be counted at the reconvened Special Meeting. For stockholders who have not yet cast their votes, we urge them to vote their shares now, so they can be tabulated prior to the reconvened Special Meeting. For more information on how to vote, please call the Company’s proxy solicitor, Sodali & Co, on their toll-free number (800) 662-5200 or email AMPY@investor.sodali.com.
The Company’s Board of Directors unanimously recommends that you vote FOR the proposals identified in the Company’s definitive proxy statement for the Special Meeting.
About Amplify Energy Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, exploitation and production of oil and natural gas properties. Amplify’s operations are focused in Oklahoma, the Rockies (Bairoil), federal waters offshore Southern California (Beta), East Texas / North Louisiana, and the Eagle Ford (Non-op). For more information, visit www.amplifyenergy.com.
Forward-Looking Statements This press release includes “forward-looking statements.” All statements, other than statements of historical fact, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve risks and uncertainties and other factors that could cause the Company’s actual results or financial condition to differ materially from those expressed or implied by forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expected timing of the adjourned Special Meeting. Please read the Company’s filings with the Securities and Exchange Commission (the “SEC”), including “Risk Factors” in the Company’s Annual Report on Form 10-K, and if applicable, the Company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which are available on the Company’s Investor Relations website at https://www.amplifyenergy.com/investor-relations/default.aspx or on the SEC’s website at http://www.sec.gov, for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements in this press release are qualified in their entirety by these cautionary statements. Except as required by law, the Company undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.
Important Additional Information Regarding the Mergers Will Be Filed With the SEC. In connection with the proposed mergers, the Company has filed a definitive proxy statement. The definitive proxy statement has been sent to the stockholders of record of the Company. The Company may also file other documents with the SEC regarding the mergers. INVESTORS AND SECURITY HOLDERS OF AMPLIFY ARE ADVISED TO CAREFULLY READ THE DEFINITIVE PROXY STATEMENT AND ANY OTHER RELEVANT MATERIALS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGERS, THE PARTIES TO THE MERGERS AND THE RISKS ASSOCIATED WITH THE MERGERS. Investors and security holders may obtain a free copy of the definitive proxy statement and other relevant documents filed by Amplify with the SEC from the SEC’s website at www.sec.gov. Security holders and other interested parties will also be able to obtain, without charge, a copy of the definitive proxy statement and other relevant documents (when available) by (1) directing your written request to: 500 Dallas Street, Suite 1700, Houston, Texas or (2) contacting our Investor Relations department by telephone at (832) 219-9044 or (832) 219-9051. Copies of the documents filed by the Company with the SEC will be available free of charge on the Company’s website at http://www.amplifyenergy.com.
Participants in the Solicitation. Amplify and certain of its respective directors, executive officers and employees may be considered participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the stockholders of Amplify in connection with the transaction, including a description of their respective direct or indirect interests, by security holdings or otherwise, is included in the definitive proxy statement filed with the SEC. Additional information regarding the Company’s directors and executive officers is also included in Amplify’s Notice of Annual Meeting of Stockholders and 2024 Proxy Statement, which was filed with the SEC on April 5, 2024. These documents are available free of charge as described above.
Madame Prime Minister, other Ministers, Chair of the Supervisory Board, honoured guests:
An hour before noon on Friday 15 April 1904, all stores in Reykjavík were closed, and children were given the day off school. At noon, city merchants gathered at the square in Lækjartorg and “marched” to the tune of band music to the cemetery on Suðurgata. The weather was delightful, and the Icelandic flag, which was then blue and white, and the Danish flag were held aloft as the parade moved along. When it reached the cemetery, a garland was placed on the grave of Jón Sigurdsson, speeches were given, those gathered sang “Ó Guð vors lands [O God of our Land]”, and the group returned to midtown.
That parade marked the fifty-year anniversary of free trade and the end of the Danish trade monopoly, the last vestiges of which had been lifted on 15 April 1854. The celebrations continued through the evening with gatherings all over town. Freedom was eulogised with a nineteen verse “ode to trade freedom” written by editor and Alaska explorer Jón Ólafsson. The last verse translates loosely as follows:
Let freedom to trade be the beacon that guides us
and helps us change boulders to bread.
Let freedom to trade be the bedrock beneath us,
the bulwark of freedoms ahead.
Independence leader Jón Sigurdsson had certainly prioritised free trade. In 1843, he wrote an article for the magazine Ný félagsrit [New Association Writings] entitled “On Trade in Iceland”, in which he explored Icelandic history through the lens of classical economics in the spirit of Adam Smith and David Ricardo. He attributed Iceland’s poverty to the Danish trade monopoly, thereby staking out a new political policy: Free trade would be a cornerstone of Iceland’s sovereignty. The 1904 event was therefore a victory celebration, as much had been gained over the preceding half-century. Iceland had home rule and a new bank registered in Copenhagen. Motorised boats and urbanisation were just over the horizon. Perhaps more importantly, the Icelandic nation had gained the confidence to stand on its own feet.
Honoured guests:
The period from 1860 until 1914 is often referred to as the First Globalisation – when trade in goods and capital was unrestricted and countries were interlinked by railroads, steamships, and the telegraph. The British were in the vanguard of global trade at that time, harnessing their industrial power, their might as a colonial empire, and the strength of the gold-pegged pound sterling.
This openness came to an end with the outbreak of World War I in 1914. The US took the helm from Britain as the twentieth century’s leading industrialised country but did not take the lead in world trade. This became obvious after the stock market crash of October 1929. In June 1930, the US responded by levying protective tariffs of 20% on the rest of the world. Other countries immediately responded in kind and world trade shrank by 60-70% over the ensuing two years, undeniably deepening the Great Depression.
Iceland’s fight for independence was grounded not least in its having unrestricted access to foreign markets. It was in the shelter of this certainty that the nation chose to separate from Denmark and become a sovereign state on 19 October 1918. A mere 23 days later, on 11 November 1918, World War I ended with the signing of an armistice agreement on the Western Front, and soon afterwards, Europe stopped buying Icelandic herring. Iceland was close to insolvent by October 1920, and consumer goods had to be rationed in Reykjavík over the ensuing winter. The situation was only remedied after the króna had been devalued by 30% and a loan from Britain obtained – on onerous terms.
Only two years after having gained sovereignty, Iceland had been battered by the fragility of international trade. Numerous shocks have shaken the country since then, and we have usually been poorly prepared for the headwinds. Perhaps it is not in Icelanders’ nature to make hay while the sun shines, as we are advised in to do in the Book of Proverbs. I believe the COVID pandemic in 2020 was the first and only severe shock we have weathered without staring down the barrel of a balance of payments crisis, a currency implosion, the imposition of capital controls, or goods rationing. But our relative strength in 2020 did not materialise out of nowhere.
Honoured guests:
Ever since the financial crisis struck in October 2008, we as a nation have given top priority to shoring up the economy’s resilience to external shocks. Of course, this is not the work of any single individual but a joint effort involving many, many people. With the passage of the new Central Bank Act in 2019 and the merger between the Bank and the Financial Supervisory Authority in 2020, Iceland endeavoured to integrate monetary policy, macroprudential policy, and financial supervision into a comprehensive strategy. Five years after the merger, the boundaries between the two institutions have vanished, but the improvement is plain to see.
Anyone who doubts the efficacy of macroprudential tools should read the Bank’s most recent Financial Stability report, issued this March. According to the analysis in that report, households’ and businesses’ balance sheets have seldom been healthier than they are right now, owing to moderate debt levels and ample equity. There are few signs of increased arrears as yet. Iceland’s balance of payments is broadly satisfactory, and the króna has been relatively stable. In short, we are very well prepared to face headwinds.
The application of macroprudential tools has also supported monetary policy effectively by restricting both debt levels in the real estate market and derivatives contracts in the foreign exchange market. It has enabled us both to prevent bubble formation amidst rising house prices and to limit opportunities for speculation and carry trade in the wake of a significant tightening of the monetary stance. It is also clear that capital requirements on credit institutions strengthen the transmission of the monetary stance along the credit channel by limiting the multiplier effects on deposits and lending, or the money creation associated with increased leverage.
The Central Bank has now lowered its key interest rates four times since last autumn, and inflation has been on a more or less constant downward path for well over a year. Although inflation is still too high, it is moving steadily towards the 2½% inflation target. Monetary policy works. As long as private sector balance sheets remain strong and resilience is sufficient, it is quite likely that the economy will achieve a soft landing after a period of very buoyant GDP growth. This is the scriptural lesson that truly matters.
Honoured guests:
The voices insisting that we as a nation cannot afford the macroprudential buffers we have accumulated in recent years have grown ever louder. Icelandic banks, they say, are fenced in and their competitive position weakened by excessive capital requirements. Resolving this would involve either bank mergers or a relaxation of capital requirements. In this context, I want to ask everyone to pause for a minute and look back over the past five years, and to recognise that it is indeed possible to strengthen operations without increasing leverage and indebtedness in the system.
In 2019, the three systemically important banks’ net interest income totalled 100 b.kr. or so. By 2024, it had grown to 150 b.kr. This is an increase of 16% in real terms. Over the same period, the banks’ operating expenses rose by 7 b.kr., which is equivalent to a decrease of 19% in real terms. Their expense ratios in terms of regular income fell from 57% in 2019 to 43% as of 2024. Their interest rate spreads have held broadly unchanged. Simply put, this is a revolution in Icelandic banking operations! And no wonder that the three banks’ returns were twice as strong over the past four years as over the four-year period immediately preceding. In 2017-2020, the banks’ average returns were 5.7%, but in 2021-2024 they were 11.7%. Strong returns and strong macroprudential policy therefore go hand-in-hand!
I cannot resist quoting the closing line in Voltaire’s Candide: “We must cultivate our garden.” It seems crystal-clear to me that the three large banks have made astonishing progress in cultivating their gardens over the past five years – and that a host of opportunities still await them.
I want to emphasise here that the best foundation for sound long-term returns in the financial system is economic policy that ensures stability. This should be obvious – and it is a lesson we ought to have learned many times over. The heart of the matter is this: Strong macroprudential policy and robust financial supervision create more stable revenues for the financial system and reduce the likelihood of loan losses and collapse. Macroprudential tools lay the groundwork for preventing competition in the lending market from devolving into a game of leapfrog where participants vie with each other to see who can make the most lenient requirements, as was the case during the years preceding the collapse of 2008. Being a systemically important bank in a small system brings with it both responsibilities and benefits, which must inevitably be reflected in higher capital requirements. But I want to mention that just this winter the Central Bank lowered capital buffers on Icelandic financial institutions not designated as systemically important. This is a reflection of the Bank’s assessment that systemic risk has subsided with the application of macroprudential tools.
I also want to emphasise the importance of financial supervision for the credibility of the financial system, where transparency is a key to trust. It is vital to monitor risks within individual institutions because temptation within one entity can so easily become another’s problem. In this context, it is important that we be able to investigate such cases and conclude them appropriately without giving rise to doubts about the financial system or the market as a whole. It is also important that we increase the efficacy of supervision to the extent possible, given the international commitments we have undertaken under the EEA Agreement. I would like to point out that the capital requirements imposed on Icelandic credit institutions due to specific credit risk have declined in recent years, partly because the banks’ loan books are far better diversified and carry less concentration risk now that the share of real estate-backed loans has increased. The outlook is also for capital requirements due to mortgages with relatively low loan-to-value ratios to decline even further with the implementation of the third Capital Requirements Regulation (CRR III) in coming months.
Not only have real estate-backed loans generated secure interest income for the banks and reduced capital requirements, they have also created new, favourable possibilities for foreign funding. I am convinced that, once the dust settles after the period of rapid price rises and supply shortages in the housing market, we will see continued growth in the banks’ mortgage lending, similar to that seen in neighbouring countries, and Icelandic households will then be able to borrow on the best possible terms. It is very important for the Government to support this loan form – one that is funded with deposits, on the one hand, and covered bonds, on the other – instead of launching a new system and/or sponsoring large-scale State-guaranteed lending. In this context, we should be chastened by the past, for the Housing Financing Fund’s remaining assets are hopefully being settled virtually as I speak, and at a large loss to the Treasury.
Honoured guests:
From the beginning of Iceland’s sovereignty in 1918 until November 2008, the country’s international reserves were too small to enable us to weather large external shocks. We changed course with loans taken in cooperation with the IMF in the wake of the financial crisis. But it was not until the Central Bank embarked on large-scale foreign currency purchases in the domestic interbank market in 2014-2017 that we acquired sizeable reserves financed in Icelandic krónur. These purchases created a glut of liquidity in the monetary system. Subsequently, the Central Bank’s key interest rate became its deposit rate rather than the rate on collateralised loans. Instead of receiving interest income from its collateralised loans to the banks, as it had previously, the Central Bank paid interest on banks’ deposits. If foreign interest income on the reserves were enough to cover these payments of deposit interest, the Central Bank’s finances would be broadly in balance. As things stand, however, interest rates on deposits with the Central Bank have far exceeded returns on the reserves, owing to Iceland’s interest rate differential with abroad. Furthermore, because of their prudential role, the reserves are invested in high-quality liquid assets, which generally yield lower returns than higher-risk assets would. This, in turn, entails a negative interest rate differential for the Central Bank and has eroded its capital in recent years. In 2024, the Bank took measures to curb this trend, as I explained in my speech at the Bank’s annual meeting a year ago.
The shift was of direct benefit to the commercial banks. The foreign currency purchases of previous years expanded the stock of deposits and liquid assets in the system. Thus the banks’ gross interest income is higher than it would be otherwise, which should reduce their average expenses. Furthermore, financial institutions enjoy risk-free returns on their accounts with the Central Bank. The benefits of this stem from the difference between the deposit interest the banks pay to their customers and the deposit interest they receive from the Central Bank. Here it is worth noting that liquid assets such as the banks’ deposits with the Central Bank are not subject to reserve requirements. In view of all this, it should be beyond doubt that the commercial banks derive a net benefit from the past few years’ glut of liquidity in the Icelandic monetary system – not to mention the international reserves themselves.
The advantages of large reserves should also be patently obvious. The reserves confer benefits such as improved credit ratings, easier access to foreign credit markets, and better interest rate terms, and moreover, they are available to ensure liquidity in the foreign exchange market when needed. The commercial banks benefit in particular, as they are the only domestic entities apart from the Treasury and State-owned companies that have issued bonds in foreign credit markets. The direct advantage to the three banks can be seen, among other things, in last year’s credit rating upgrades and in more favourable interest terms abroad, which ultimately deliver benefits to the banks’ customers.
The international reserves currently total 865 b.kr., or 19% of GDP. They are held jointly by the Central Bank and the Treasury, although of course, the Icelandic nation is ultimately the owner. The 300 b.kr. worth of reserves owned by the Treasury are actually borrowed, as they are financed with foreign bond issues. The Central Bank’s share in the reserves, which are financed primarily in krónur, comes to 565 b.kr. At present, the Bank and the Treasury bear the cost of the reserves jointly, together with deposit institutions via the 3% reserve requirement.
The Bank bases its assessment of the optimum size of the international reserves on the IMF’s reserve adequacy metric, or RAM. The Bank’s current assessment is that the reserves should not be below 120% of that metric. The reserves have shrunk in recent years, and their funding has changed markedly, owing in particular to the Bank’s programme of foreign currency sales during the pandemic and the Treasury’s foreign currency need. In 2024, the reserves were equivalent to 118% of the RAM. The outlook is for the reserves to shrink marginally in the coming term, all else being equal, owing to foreign payments made by the Bank on the Treasury’s behalf. The Central Bank is therefore of the opinion that the reserves need to be strengthened. As a result, and as a step in that direction, the Bank will initiate a new programme of regular foreign currency purchases in the domestic interbank market on 15 April 2025, the 171st anniversary of free trade in Iceland. The Bank plans to buy a total of 6 million euros, the equivalent of 870 b.kr., each week. The programme will be explained in more detail in a press release posted on the Bank’s website.
Honoured guests:
The foundations for the post-war renaissance of free global trade were laid at a conference of 44 nations in the small US town of Bretton Woods, New Hampshire, in July 1944. Iceland was among them. At the Bretton Woods conference, the groundwork was laid for the establishment of the International Monetary Fund, the World Bank, and the so-called Bretton Woods fixed exchange rate system. Three years later, groundrules were created for the cancellation of tariffs and quotas in world trade with the signing in 1947 of the General Agreement on Tariffs and Trade, or GATT Treaty. In a total of eight rounds of negotiations, the world was opened up again, and GATT led to the establishment of the World Trade Organization in 1995, a year after the North American Free Trade Agreement (NAFTA) came into being.
The political capital for the endeavour came from the US, as did the political conviction that trade liberalisation was the only way to guarantee world peace and that big countries should not strong-arm smaller ones by levying tariffs on them. This perspective on the link between peace and free trade has been a leitmotif in US foreign policy for over 80 years – until 2025, that is.
It is unclear what short- and long-term impact the tariffs introduced by the current US administration this April will have on the global economy or on the future of liberalised world trade. It is obvious, though, that the side-effects will be felt not least by the American people, who have benefited enormously from free international trade.
I firmly believe in common sense: World trade will adjust to a new reality and will continue to grow. That does not change the fact that we Icelanders must always be prepared to respond to shocks and changed circumstances – to ensure the resilience of our economy. There is no question that strong macroprudential policy enabled us to weather the COVID storm without significant problems. And we have recouped our previous output capacity with 20% accumulated GDP growth since 2020. With this in mind, I want to encourage stakeholders and elected officials alike to avoid short-sightedness. Solid macroprudential policy is a good investment for the Icelandic nation.
It would be highly appropriate for us to gather at Lækjartorg next Tuesday, the 15th of April, walk together to Jón Sigurdsson’s grave in the cemetery, and celebrate the abolition of the Danish trade monopoly. Jón’s political policy – that free trade is a cornerstone of sovereignty and prosperity – is still valid.
“Wherever Palestinians have control is barbaric.” These were the words from New Zealand’s Chief Human Rights Commissioner Stephen Rainbow.
During a meeting with Philippa Yasbek from Jewish Voices for Peace, Dr Rainbow allegedly told her that information from the NZ Security Intelligence Services (NZSIS) threat assessment asserted that Muslims were the biggest threat to the Jewish community. More so than white supremacists.
But the NZSIS has not identified Muslims as the greatest threat to national security.
In the 2023 threat environment report, NZSIS stated that it: “Does not single out any community as a threat to our country, and to do so would be a misinterpretation of the analysis.
“White Identity-Motivated Violent Extremism (W-IMVE) continues to be the dominant IMVE ideology in New Zealand. Young people becoming involved in W-IMVE is a growing trend.”
Religiously motivated violent extremism (RMVE) did not come from the Muslim community, as Dr Rainbow has also misrepresented.
The more recent 2024 NZSIS report stated: “White identity-motivated violent extremism (W-IMVE) remains the dominant IMVE ideology in New Zealand. Terrorist attack-related material and propaganda, including the Christchurch terrorist’s manifesto and livestream footage, continue to be shared among IMVE adherents in New Zealand and abroad.”
To implicate Muslims as being the greatest threat may highlight Dr Rainbow’s own biases, racist beliefs, and political agenda. These false narratives, that have recently been strongly pushed by the US and Israel, undermine social cohesion and lead to a rise in Islamophobia and anti-Palestinian racism.
It is also deeply troubling that he has framed Muslim and Arab communities as potential sources of violent extremism while failing to acknowledge the very real and documented threats they have faced in Aotearoa.
The Christchurch Mosque attacks — the most horrific act of mass violence in New Zealand’s modern history — were perpetrated not by Muslims, but against them, by an individual radicalised by white supremacist ideology.
Chief Human Rights Commissioner Dr Stephen Rainbow . . . “It is also deeply troubling that he has framed Muslim and Arab communities as potential sources of violent extremism while failing to acknowledge the very real and documented threats they have faced in Aotearoa.” Image: HRC
Since that tragedy, there have been multiple threats made against mosques, Arab New Zealanders, and Palestinian communities, many of which have received insufficient public attention or institutional response.
For a Human Rights Commissioner to overlook this context and effectively invert the victim-aggressor dynamic is not only factually inaccurate, but it also risks reinforcing harmful stereotypes and undermining the safety and dignity of communities who are already vulnerable.
Such narratives are inconsistent with the Human Rights Commission’s mandate to protect all people in New Zealand from discrimination and hate.
The dehumanisation of Muslims and Palestinians As part of Israel’s propaganda, anti-Muslim and Palestinian tropes are used to justify violence against Palestinians by framing us as barbaric, aggressive, and as a threat. We are dehumanised in order to normalise the harm they inflict on our communities which includes genocide, land theft, ethnic cleansing, apartheid policies, dispossession, and occupation.
In October 2023, Dan Gillerman, a former Israeli Ambassador to the UN, described Palestinians as “horrible, inhuman animals” and was perplexed with the growing global concern for us.
That same month Yoav Gallant, then Israeli Defence Minister, referred to Palestinians as “human animals” when he announced Israel’s illegal and horrific siege on Gaza that included blocking water, food, medicine, and shelter to an entire population, the majority of which are children.
In making his own remarks about the Muslim community being a “threat” in New Zealand as a collective group, and labelling Palestinians being “barbaric”, Dr Stephen Rainbow has shattered the credibility of the Human Rights Commission. He has made it very clear that he is not impartial nor is he representing and protecting all communities.
Instead, Dr Rainbow is exacerbating divisions within society. This is a worrying trend that we are witnessing around the world; the de-humanising of groups to serve political agendas, retain power, or seek public support for war crimes and crimes against humanity.
Dr Rainbow’s appointment also points a spotlight onto this government’s commitment to neutrality and inclusiveness in its human rights policies. Allowing a high-ranking official to make discriminatory remarks undermines New Zealand’s commitment to the International Convention on the Elimination of All Forms of Racial Discrimination (ICERD) and the Universal Declaration of Human Rights.
A high-ranking official should not be allowed to engage in Islamic and Palestinian racist rhetoric without consequence. The public should be questioning the morals, principles, and inclusivity of those currently in power. Our trust is being eroded.
Dr Stephen Rainbow’s comments can also be seen as a breach of human rights principles, as he is supposed to uphold equality and non-discrimination. Yet his beliefs seem to be peppered with racism, often falsely based on religion, ethnicity, and race.
Foreign influence in New Zealand This incident also shines accountability and concerns for foreign influence and propaganda seeping into New Zealand. The Israel Institute of New Zealand (IINZ) has published articles that some perceive as dehumanising toward Palestinians.
“The Left has found a new underdog to replace the Jews — the Palestinians — in spite of the fact that the treatment of gay people, women, and political opponents wherever Palestinians have control is barbaric.”
By publicising these comments, The Israel Institute of New Zealand signalled its support of these offensive and racist serotypes. Such statements risk reinforcing a narrative that portrays Palestinians as inherently violent, uncivilised, and unworthy of basic rights and dignity.
This kind of rhetoric contributes to what many describe as anti-Arab and anti-Palestinian racism, and it warrants public scrutiny, especially when shared by organisations involved in shaping public discourse.
Importantly, the NZSIS 2024 threat report stated that “Inflammatory and violent language online can target anyone, although most appears directed towards those from already marginalised minority communities, or those affected by globally significant conflicts or events, such as the Israel-Gaza conflict.”
Other statements and reposts published online by the IINZ on their X account include:
“Muslims are getting killed, is Israel involved? No. How many casualties? Under 100,00, who cares? Why is this even on the news? Over 100,000. Oh, that’s too bad, what’s for dinner?” (12 February 2024)
“Fact. Gaza isn’t ‘ancestral Palestinian land’. We’ve been here long before them, and we’ll still be here long after the latest propaganda campaign.” (12 February 2024)
Palestinian society was also described as being “a violent, terror-supporting, Jew-hating society with genocidal aspirations.” (16 February 2025)
The “estimate of Hamas casualties, the civilian-to-combat death ratio could be as low as 1:1. This could be historically low for urban warfare.” (21 February 2025)
“There has never been a country called Palestine.” (25 February 2025)
Even showing a picture of Gaza before Israel’s bombing campaign with a caption saying, “Open air prison”. Next to it a picture of a completely destroyed Gaza with a caption that says “Victory.” (23 February 2025)
“Palestinian society in Gaza is in my eyes little more than a death loving cult of murderers and criminals of the lowest kind.” (28 February 2025)
Anti-Palestinian bias and racism Portraying Muslims and Palestinians as a threat and extremist reflects both Islamophobia and anti-Palestinian bias and potential racism. These statements risk dehumanising Palestinians and are typical of the settler colonial narrative used to erase indigenous populations by denying our history, identity and legal claim.
The IINZ has published content that many see as mocking the deaths of Palestinian Muslims and Christians, which is not only ethically questionable but can be seen as a complete lack of empathy.
And posting the horrific images of a completely destroyed Gaza, appears to revel in the suffering of others and contradicts basic ethical norms, such as decency and compassion.
There also appears to be a common theme among pro-Israeli organisations, not just the IINZ, that cast negative connotations on our national symbols including our Palestinian flag and keffiyeh.
In an article on the IINZ webpage, titled “A justified war”, they write “chorus of protesters wearing keffiyehs, waving their Palestinian and terrorist flags, and shouting about Israel’s alleged war crimes.”
It seemingly places the Palestinian flag — an internationally recognised national symbol– alongside so-called “terrorist flags,” suggesting an equivalence between Palestinian identity and terrorism. Many view this language as dehumanising and inflammatory, erasing the legitimate national and cultural characteristics of Palestinians and feeding into harmful stereotypes.
The Palestinian flag represents a people, their identity, and national aspirations.
There is nothing wrong with our keffiyeh, it is part of our national dress. The negative connotations of Palestinian cultural symbols have to stop, including vilifying other MPs or supporters who wear it in solidarity.
This is happening all too often in New Zealand and must be called out and addressed. Our keffiyeh is not just a scarf — it is a symbol of our Palestinian identity, our resistance, and our rich, historic and deeply rooted cultural heritage.
Pro-Israeli groups attack it because they aim to delegitimise Palestinian identity and resistance by associating it with violence, terrorism, or extremism.
In 2024, ISESCO and UNESCO both recognised the keffiyeh as an essential part of their Intangible Cultural Heritage lists as a way of safeguarding Palestinian cultural heritage and reinforcing its historical and symbolic importance.
As a safeguarded cultural artifact, much like indigenous dress and other traditional attire, attempts to ban or demonize it are acts of cultural erasure and need to be called out as such and dealt with accordingly.
In the same IINZ article titled “A Justified War”, the authors present arguments that appear to defend Israel’s military actions in Gaza, including the targeting of civilians.
Many within the community (most of us have been affected), including survivors and those with direct ties to the region, have found the article deeply distressing and feel that it lacks compassion for the victims of the ongoing violence, and the framing and tone of the piece have raised serious ethical concerns, especially as some statements are factually incorrect.
The New Zealand Palestinian communities affected by this unimaginable genocide are suffering. Our family members are being killed and are at threat daily from Israel’s aggression and illegal war.
Unfortunately, much rhetoric from this organisation aligns with Israeli state narratives and includes statements that some view as racist or immoral, warranting further scrutiny from the government.
There is growing public concern over the association of Human Rights Commissioner Dr Stephen Rainbow with the IINZ, which promotes itself as a research and advocacy body.
A Human Rights Commissioner requires neutrality and a commitment to protecting all communities from discrimination; aligning with Israel and publishing harmful rhetoric may lead to bias in policy decisions and discrimination.
It is also important to remember that we are not a monolithic group. Christian Palestinians exist (I am one) as well as Muslim and historically Jewish Palestinians. Christian communities have lived in Palestine for two thousand years.
This is also not a religious conflict, as many pro-Israeli groups wish the world to believe, and it is not complex. It is one of colonialism, dispossession, and human rights. A history that New Zealand is all too familiar with.
“A Human Rights Commissioner requires neutrality and a commitment to protecting all communities from discrimination; aligning with Israel and publishing harmful rhetoric may lead to bias in policy decisions and discrimination.” Image: HRC screenshot APR
The need for accountability Justice Minister Paul Goldsmith’s inaction and disrespectful response, claiming that a staunchly pro-Israeli supporter can be impartial and will be “very careful” from now on, hints that he may also support some forms of racism, in this case against Muslims and Palestinians.
Justice Minister Paul Goldsmith . . . “There needs to be accountability for Goldsmith. Why has he not removed Dr Rainbow from office and acted appropriately?” Image: NZ Parliament
You cannot address only some groups who are discriminated against but then ignore others, or accept excuses for racist, intolerable actions or statements. This is not justice.
This is the application of selective principles, enforced and underpinned by political agendas, foreign influence, and racism. Does Goldsmith understand that justice is as much about human rights, fairness and accountability as it is about laws?
Without accountability, there is no justice at all, or perhaps he too is confused or uncertain about his role, as much as Dr Rainbow seems oblivious to his?
There needs to be accountability for Goldsmith. Why has he not removed Dr Rainbow from office and acted appropriately? If Dr Rainbow had said that Jews were the biggest threat to Muslims or that Israelis were the biggest threat to Palestinians, would this government and Goldsmith have sat back and said, “he didn’t mean it, it was a mistake, and he has apologised”?
Questions New Zealanders should be asking are, what kind of Human Rights Commissioner speaks of entire peoples this way? What kind of minister, like Paul Goldsmith, looks at that and does very little?
What kind of Government claims to champion justice, while turning a blind eye to genocide? This is betraying the very idea of human rights itself.
Although we are a small country here in New Zealand, we have remained strong by upholding and standing by our principles. We said no to apartheid in South Africa. We said no to nuclear weapons in the Pacific. We said no to the invasion of Iraq in 2003.
And we must now say no to dehumanisation — anywhere. Are we a nation that upholds justice or do we sit on the sidelines while the darkest times in modern history envelopes us all?
The attacks against Palestinians, Arabs and Muslims must stop. We have already faced horrific acts of violence against us here in New Zealand and currently in Palestine. We need support and humanity, not dehumanisation, demonisation and cruelty. This is not what New Zealand is about, we must do better together.
There needs to be a formal enquiry and policy review to see if structural biases exist in New Zealand’s Human Rights institutions. This should also be done across some government bodies, including the Ministry of Education and Immigration NZ, to determine if there has been discrimination or inequality in the handling of humanitarian visas and how the Education Ministry has handled the complaints of anti-Palestinian discrimination at schools.
Communities have particular concern at how the curriculum in many schools deals with the creation of the state of Israel but is silent on Palestinian history.
Public figures should be held to a higher standard, with consequences for spreading racially charged rhetoric.
The Human Rights Commission needs to rebuild trust in our multicultural New Zealand society. The only way this can be done is through fair and just measures that include enforcement of anti-discrimination laws, true inclusivity and action when there is an absence of these.
We are living in a moment where silence is complicity. Where apathy is betrayal.
This is a test of whether New Zealand, Minister Goldsmith and this government truly uphold human rights for all, or only for some.
Source: United Kingdom – Executive Government & Departments
Press release
UK Government statement on denial of UK MP to enter Hong Kong
The UK Government has issued a response after a UK MP was refused entry to Hong Kong.
A Government spokesperson said:
During his visit to mainland China and Hong Kong Minister for Trade Policy and Economic Security the Rt Hon Douglas Alexander relayed our immediate and deep concern regarding MP Wera Hobhouse denial of entry into Hong Kong. Minister Alexander raised our concerns and demanded an explanation with senior Chinese and Hong Kong interlocutors including Hong Kong’s Chief Secretary for Administration, to understand why the Hong Kong authorities refused access to a British MP.
It is deeply concerning that a UK MP was refused permission to enter Hong Kong last week. Unjustified restrictions on the freedom of movement for UK citizens into Hong Kong only serves to further undermine Hong Kong’s international reputation and the important people-people connections between the UK and Hong Kong.
As the Foreign Secretary has made clear, and Minister Alexander relayed in person, it would be unacceptable for any MP to be denied entry for simply expressing their views.
Source: United Kingdom – Executive Government & Departments
Press release
Government steps in to back British business in changing world
The Chancellor announces a multi-billion-pound increase in government-backed financing.
British businesses across the country have today been given further stability and certainty with access to new support through a multi-billion-pound increase in government-backed financing as the world enters a new era of global trade.
The new package will give UK Export Finance (UKEF) the power to expand financing support for British businesses by £20 billion, with small businesses also able to access loans of up to £2 million through the British Business Bank’s Growth Guarantee Scheme.
Thousands of companies are expected to benefit from the move, including those directly affected by tariffs – with iconic British brands like Rolls Royce through to local businesses like Alicat Workboats previously benefitting from similar programmes.
Today’s boost reaffirms government’s commitment to free and open trade, and means an £80 billion boost for businesses, meaning they can access government-backed finance and support to grow their presence both domestically and overseas, create new jobs and drive economic growth as part of the Plan for Change.
New measures come as prime minister goes further and faster to boost growth, working in partnership with business to deliver it.
This week alone has seen swift and decisive action from the government to protect UK businesses and workers by:
Taking action to keep British Steel operating, saving thousands of jobs
Increasing flexibility on the zero-emission vehicle (ZEV) mandate to help British carmakers
Cutting the red tape that slows down clinical trials in the life sciences sector
Investing up to £600 million in a new Health Data Research Service
Backing a £30 million package to support the reopening of Doncaster Sheffield Airport which is expected to support 5,000 jobs and boost the economy by £5 billion
Chancellor of the Exchequer, Rachel Reeves said:
The world is changing, which is why it is more important than ever to back our world-leading businesses and support them to navigate the challenges ahead.
Today’s announcement will do that just, with thousands of businesses right across the country set to benefit.
We are going further and faster to boost growth, but we cannot do it alone. Only by working with businesses will we achieve our Plan for Change and put more money into people’s pockets.
Business and Trade Secretary, Jonathan Reynolds said:
Our message to British business is clear – we’ve got your back. This package, backed by the British Business Bank and UKEF, will be a crucial shot in the arm to exporters and small firms looking to trade around the world.
Within a changing world, we need to adapt, and as part of our Plan for Change, this Government is responding. These changes will help to boost growth support jobs and supercharge thousands of businesses across all four corners of the country.
UKEF will also offer businesses partial loan guarantees through more flexible uses of its Export Development Guarantee, helping to mitigate the impact of new tariffs and associated economic uncertainty. Of the £80 billion, up to £10 billion will be allocated to ensure that businesses significantly impacted in the short term by the current situation have access to the finance they need to grow.
The British Business Bank will also expand its Growth Guarantee Scheme by £500 million, which will provide vital finance for smaller businesses as they look to invest and grow. This scheme provides the lender with a 70% government-backed guarantee against loans or other types of finance, enabling lenders to support smaller businesses that would struggle to obtain financing through traditional means – and has so far enabled more than £2.1 billion of lending.
This comes on top of £1 billion of funding for British Business Bank programmes for this financial year, confirmed at Autumn Budget 2024. This includes additional support for smaller housebuilders through the ENABLE Build programme, funding for Start Up Loans and additional funding for three equity programmes supporting innovative high growth businesses
This week, the Chancellor and Business and Trade Secretary also took part in the 13th UK-India Economic and Financial Dialogue (EFD) in order to strengthen ties between the two countries. In addition to India, the UK is negotiating trade deals with partners including the Gulf Cooperation Council, South Korea and Switzerland, which will give businesses more opportunities than ever before to expand into new markets.
Mayor launches Workers Rights and Social Justice Programme
14 April 2025
The programme for this year’s Workers Rights and Social Justice Week in Derry and Strabane has gone live this week with a range of events focusing on workers’ unity and activism.
The programme will reflect on the campaign by the workers’ rights movement down through the decades and provides an opportunity to highlight issues that are facing workforces today.
It will feature events hosted by Derry City and Strabane District Council (DCSDC) and by Derry Trades Union Council (DTUC) and will run from April 26th to the 5th of May, 2025.
Looking ahead to Workers Rights and Social Justice Week, Mayor of Derry City and Strabane District, Councillor Lilian Seenoi Barr, said: “I would really encourage people to support the events taking place throughout WR&SJ Week, which have been planned to educate, inspire and empower local workers.
“It’s an opportunity to share learnings and raise awareness of the issues that are impacting us in our workplaces every day. As a Council we support the campaign to ensure all employees are fairly paid and feel valued in their work. So much has already been achieved but more needs to be done, and it’s important that we to continue to work together in solidarity to progress the campaign for change.”
The programme opens at 12noon on Saturday April 26th, with a day of workshops, discussions and entertainment in the Guildhall, exploring workers’ unity across the decades, communities and culture. Everyone is welcome to attend this free event, and booking is not required.
On May 1st, the Alley Theatre will play host to a special talk by Alana Moore on the work of prominent local campaigner and activist Ann Browne, titled ‘Our Local Girl Loved Worldwide’. Ann Browne campaigned extensively for workers in, and refugees from, Latin America, particularly those involved in the mining and similar industries. Ann first developed a love for Latin America at Queen’s University where she studied Spanish and at London’s Institute of Latin American Studies. During her time at university she was also an avid supporter of the civil rights movement, and she took that passion with her when she worked in London and Brussels when she joined the Miners’ International Federation (MIF).
The talk sets the scene for the opening of a special exhibition in Ann Browne’s honour titled ‘Ann’s Journey: Honouring the Life and Legacy of Strabane’s Trade Union Pioneer’. The exhibition will run throughout May.
The annual Noelene O’Kane Annual Walk around the City Walls will also take place on Thursday May 1st, leaving Magazine Gate at 6pm with the opportunity to hear more about significant events in the working class history of the city.
Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.
Denis Manturov took part in the plenary session of the Russian-Indonesian business forum “Russia-Indonesia: Partnership Strategy”.
First Deputy Prime Minister of Russia, Chairman of the Russian-Indonesian Joint Commission on Trade, Economic and Technical Cooperation Denis Manturov arrived at the head of the Russian delegation to Indonesia (Jakarta). The working visit is taking place in the year of the 75th anniversary of the establishment of diplomatic relations between Russia and Indonesia and will last two days.
On the first day of the visit, Denis Manturov took part in the plenary session of the Russian-Indonesian business forum “Russia – Indonesia: Partnership Strategy”. The forum participants discussed key issues of bilateral cooperation in trade and investment, industry, agriculture, energy, transport, tourism and creative industries. The forum was organized by the Roscongress Foundation jointly with the Indonesian Chamber of Commerce and Industry.
Despite the difficult geopolitical situation, cooperation between Russia and Indonesia has continued to strengthen in recent years. “Work between our countries in all areas has not stopped. During this time, our trade turnover has increased significantly, to $4.3 billion last year,” Denis Manturov noted.
The First Deputy Prime Minister noted that today Russia is implementing the tasks of ensuring technological sovereignty. First of all, in high-tech industries: transport engineering, shipbuilding, pharmaceuticals, space and other areas. At the same time, Russia is open to cooperation with reliable foreign partners, in particular with Indonesia. This concerns cooperation both in the trade and economic sphere, including energy, and in humanitarian areas.
“I believe that today we have a favorable moment amidst global uncertainty – this moment has arrived, and it is especially felt in today’s business forum and discussions. The next step is to strengthen our trade. Yes, the volume of trade between our countries has increased by 30%, but this is not enough, we need more. And as President Prabowo instructed me, it is necessary to finalize the free trade agreement with the EAEU so that through it, it will facilitate the trade that both Indonesia and Russia need,” said Airlangga Hartarto, Coordinating Minister for Economic Affairs of the Republic of Indonesia.
“Negotiations on a free trade agreement are underway, and I hope that the agreement will be signed by the end of the year. You know about the initiative of the United States of America to significantly increase foreign trade tariffs, this could give additional impetus to speed up the signing of the agreement,” Denis Manturov said, answering a question from Indonesian media after the session.
“The Russia-Indonesia Business Forum, which brought together more than 500 entrepreneurs and government officials, became a platform for open and trusting dialogue between the government, business, and society of the two countries,” noted Alexander Stuglev, Chairman of the Board and Director of the Roscongress Foundation.
At the end of the plenary session of the forum, the First Deputy Prime Minister invited his Indonesian colleagues to take part in the St. Petersburg International Economic Forum, the Eastern Economic Forum and the Innoprom International Industrial Exhibition.
In the afternoon, Denis Manturov visited the Indonesian Badminton Association. Badminton is a national sport in Indonesia, and special attention is paid to its development here. Representatives of the Russian and Indonesian badminton associations told Denis Manturov about their plans for cooperation. Also during the visit, the best athletes of the Indonesian team demonstrated their skills during exhibition performances and held several friendly matches with members of the Russian delegation.
Denis Manturov also attended a gala concert dedicated to the 75th anniversary of the establishment of diplomatic relations between Russia and Indonesia. Russian and Indonesian artists and creative groups took part in it.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Source: People’s Republic of China – State Council News
HAIKOU, April 14 — The fifth China International Consumer Products Expo (CICPE), held on the tropical island province of Hainan, has reaffirmed the country’s position as a vital marketplace for global enterprises.
This year’s expo has drawn record participation from over 4,100 brands across 71 countries and regions, reflecting the expanding international appetite for engagement with China’s vast consumer market and its evolving landscape.
The UK, this year’s guest country of honor, brought 27 companies spanning fashion, beauty, and other fields. Flagship brands like Burberry and Bentley showcased their latest offerings, with a strong emphasis on green technology and sustainable development.
“I have seen the tremendous innovation and growth taking place within China’s economy in recent years, not least in digital technologies, life sciences and green energy,” said Douglas Alexander, minister of state of the UK’s Department for Business and Trade.
These areas present significant opportunities for both economies, he said, emphasizing the UK’s commitment to deepening economic ties with China.
Burberry Greater China President Josie Zhang noted the value of the expo in facilitating foreign firms to engage with local partners. “By deepening cooperation with various stakeholders, we aim to explore new market opportunities and achieve mutual growth,” she said in a written interview with Xinhua.
Slovakia also made a notable debut with its first-ever national pavilion. Andrea Jancekova, CEO of Slovak brand Truscada, praised the expo’s global reach. “You can have a good connection also with people from all over the world.”
Slovak Deputy Prime Minister Denisa Saková highlighted the expanding trade ties between the two countries. “China is one of our most important trading partners outside the European Union,” she said. “The growing volume of trade is a testament to the strength and dynamism of our economic relationship.”
Among the newcomers was Japan’s Eda Livestock Co., Ltd., known for its premium Wagyu beef. “We plan to establish a foreign trade company in Hainan as our strategic entry point into the Chinese market,” said Rei Tanaka, the firm’s chief operating officer, who participated in the CICPE for the first time.
This year’s expo also gathered an array of top-tier global luxury brands. Richemont’s TimeVallée debuted as an independent exhibitor, while LVMH and Kering Group brands made notable appearances, reflecting confidence in China’s premium consumption growth.
“Luxury consumers in China are significantly younger than those in many overseas markets, and that presents a major opportunity for us,” said Nancy Liu, president of luxury travel retailer DFS China. The company has introduced tailored services to cater to the expectations of these emerging consumer groups.
Beyond luxury, sectors like automotive and technology are repositioning China from being a mere sales destination to a research and innovation hub.
Amid China’s technological innovation momentum, this year’s expo for the first time introduced dedicated zones for artificial intelligence and the low-altitude economy, showcasing cutting-edge technologies and products from leading tech companies around the world.
“Since 2020, Volkswagen has invested over 10 billion euros in China. In particular, we have established a research and development center in China in 2023, the largest outside Germany,” said Su Bahong, vice president of Volkswagen Group China. “This shows the trend where China is becoming the global technological innovation hub.”
GEORGE TOWN, Cayman Island, April 14, 2025 (GLOBE NEWSWIRE) — Toobit, a rising star in the world of cryptocurrency trading, continues to push boundaries through user-first innovations and state-of-the-art tools. In their latest stride toward delivering an enhanced trading journey for traders of all levels, Toobit has officially integrated its Futures trading platform with TradingView — one of the industry’s most trusted and feature-rich charting platforms. This powerful integration merges Toobit’s advanced futures trading infrastructure with TradingView’s intuitive interface and deep analytical capabilities, offering users a smoother, smarter, and more data-driven trading experience.
What Is TradingView?
TradingView is a widely respected charting and social network platform used by millions of traders worldwide. Known for its sleek interface and comprehensive set of technical analysis tools, TradingView allows users to monitor financial markets, draw insights, and share trading ideas in real-time.
When it comes to futures trading, TradingView becomes even more powerful. It provides dynamic charts, a wide array of indicators, and the ability to test strategies—making it an essential tool for both novice and professional traders. The integration with Toobit means users can now access all these tools directly while trading, making decision-making faster and more data-driven.
Key Benefits of Integration
The TradingView and Toobit integration brings several standout advantages:
Real-Time Market Data Visualization: Toobit traders can now view live futures data on TradingView’s interface, enhancing situational awareness and reaction speed during fast-moving markets.
Advanced Charting Tools: Traders gain access to a suite of indicators, drawing tools, and customizable layouts that allow for deep technical analysis of futures pairs.
Integrated Watchlists and Layouts：Customize your TradingView workspace with Toobit pairs, enabling a more efficient and centralized monitoring experience.
What This Means for the Toobit Community
This integration marks an important milestone for the Toobit ecosystem by enhancing the way users analyze and track futures markets. Key benefits include:
Stronger Technical Analysis Capabilities With access to TradingView’s professional-grade charts and analytical tools, Toobit users can now explore market trends, price movements, and potential trade setups with greater depth and clarity.
Smoother User Experience Viewing Toobit futures data on TradingView allows for a centralized, intuitive interface where users can conduct analysis more efficiently without switching between platforms.
Improved Market Monitoring Real-time visualization of Toobit futures markets empowers users to make timely, data-informed decisions—an essential edge in fast-moving crypto environments.
What’s Next for Toobit?
Toobit is committed to continuous platform enhancement. Future phases of the TradingView integration will explore interactive features such as trade execution, order management, and strategy sharing. Additionally, Toobit will continue expanding asset offerings, improving user interface design, and providing more educational and multi-language support.
Conclusion
The integration of Toobit’s Futures platform with TradingView marks a significant milestone. Traders can now access real-time market data and leverage TradingView’s advanced charting tools to deepen their understanding of price movements and market trends. This streamlined access to professional technical analysis within a familiar interface sets a new benchmark for futures market insight. Whether you’re an experienced trader or just starting out, this integration offers a smarter, more informed way to navigate the crypto futures landscape.
Contact: Erin G Email: erin.gao@toobit.com Website: www.toobit.com
Disclaimer:This press release is provided by Toobit. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Speculate only with funds that you can afford to lose.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.
Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.
BW Energy makes Final Investment Decision for the Golfinho Boost project in Brazil
BW Energy is pleased to announce final investment decision (FID) for the Golfinho Boost project, aiming to increase uptime, reduce operating expenses and add approximately 3,000 barrels per day of incremental oil production from 2027 at the Golfinho field offshore Brazil.
The project includes multiple measures aimed at boosting production efficiency and increasing recoverable reserves by approximately 12 million barrels. The measures include upgrades to the subsea boosting system by replacing gas lift with Electrical Submersible Pumps (ESPs) at the seabed, reopening of shut-in wells, umbilicals replacement, improved field logistics and FPSO capacity enhancements. The total investment budget is USD 107 million.
“BW Energy continues to strengthen its position in Brazil through targeted measures on the Golfinho field to increase production, uptime and operational independence. The planned low-risk enhancements to field assets and operations offer very attractive returns and are expected to help unlock material long-term value creation for the company and its stakeholders,” said Carl K. Arnet, the CEO of BW Energy.
The Golfinho field is in the Espírito Santo Basin with water depths between 800 and 1,700 metres. BW Energy is the operator with 100% working interest in the Golfinho licence following the August 2023 acquisition of the Golfinho and Camarupim Clusters. Hydrocarbons are produced to the FPSO Cidade de Vitória, which BW Energy acquired and has operated since November 2023. The field has been producing since 2007.
More information on the Golfinho Boost project will be shared in connection with the first quarter 2025 earnings release and presentation to be held at Hotel Continental in Oslo, Norway, on 5 May.
BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company’s assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 (“PEL 73”) in Namibia. Total net 2P+2C reserves and resources were 599 million barrels of oil equivalent at the start of 2025.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
VICTORIA, Seychelles, April 14, 2025 (GLOBE NEWSWIRE) — MEXC, a global leader in cryptocurrency exchange services, will proudly participate as one of the seven exclusive Title Sponsors at TOKEN2049 Dubai, taking place from April 29 to May 1, 2025, at the prestigious Madinat Jumeirah. This premier industry event coincides with MEXC’s milestone 7th Anniversary, providing an ideal platform to showcase the exchange’s continued commitment to innovation and user-centric solutions.
Leading the Way in Crypto Accessibility
As TOKEN2049 Dubai prepares to welcome 15,000 attendees from over 4,000 companies worldwide, MEXC will demonstrate why it has become the preferred platform for 36 million users across 170+ countries. Under the brand promise “Your Easiest Way to Crypto,” MEXC has consistently delivered a trading experience that is fast, economical, and user-friendly.
Visitors to MEXC’s booth will discover why the platform has earned its reputation for accessibility and innovation. The exchange offers a broad selection of trending tokens, regular airdrop opportunities, and competitive trading fees within a secure and efficient environment designed to meet the needs of both newcomers and experienced traders.
Celebrating 7 Years of Growth with Global Campaign and Exclusive Announcements
TOKEN2049 Dubai provides the perfect backdrop for MEXC to commemorate its 7th anniversary — a journey marked by consistent growth, technological advancement, and an unwavering focus on user satisfaction. From its founding in 2018, MEXC has evolved into one of the industry’s most trusted exchanges, known for its liquidity strength and comprehensive service offerings.
Tracy Jin, Chief Operating Officer of MEXC, who will be joining a panel at the mainstage, expressed enthusiasm about the upcoming event: “Our 7th anniversary represents a significant milestone in MEXC’s evolution from a startup to a global leader serving over 36 million users. We’re particularly excited to use TOKEN2049 Dubai as a platform to unveil several major announcements that will shape the future of our exchange and bring even more value to our users. The crypto community can expect groundbreaking new features and partnerships that reflect our commitment to continuous innovation.”
As part of the celebration, MEXC has launched a global anniversary campaign featuring a massive 10,000,000 USDTprize pool. The campaign, running from April 13 to May 7, 2025, invites users to participate in three exciting arenas: Team PNL Rate Competition, Collect, Assemble & Win, and Solo Leaderboard Battle. These competitive events offer opportunities for both individuals and teams to showcase their trading skills while earning substantial rewards, reinforcing MEXC’s commitment to community engagement and user empowerment.
As part of the anniversary celebrations, MEXC will also host special events including the “Celebra7eMEXC Party” on April 30th and an exclusive yacht experience for select partners on May 1st. These gatherings will provide valuable networking opportunities while highlighting MEXC’s appreciation for its global community of users and partners.
Revolutionary DEX+ Platform: Bridging Centralized and Decentralized Trading
The spotlight on MEXC’s TOKEN2049 presence will be on its DEX+ platform, launched in March 2025. This innovative hybrid solution seamlessly integrates centralized and decentralized trading capabilities, allowing users to access over 15,000 tokens across the Solana and BNB Chain ecosystems without leaving the familiar MEXC interface.
DEX+ represents a significant advancement in trading technology, enhancing user experience while expanding MEXC’s appeal to on-chain trading enthusiasts. By eliminating the traditional barriers between centralized and decentralized exchanges, MEXC continues to drive innovation that serves the evolving needs of the global crypto community.
Connect with MEXC at TOKEN2049 Dubai
TOKEN2049 Dubai attendees are encouraged to visit MEXC’s booth to explore the platform’s features, learn about the revolutionary DEX+ technology, and discover special promotions available exclusively during the event. As a special highlight of the 7th-anniversary celebration, MEXC will showcase a collection of seven limited-edition commemorative merchandise items, attractively displayed and available for visitors at the booth. MEXC representatives will be available throughout the conference to provide demonstrations, answer questions, discuss potential partnerships, and help attendees acquire these exclusive anniversary items.
TOKEN2049 Dubai presents an extraordinary opportunity for industry professionals and crypto enthusiasts to experience firsthand the innovations that have established MEXC as a leading exchange. Whether exploring cryptocurrency for the first time or seeking advanced trading solutions, visitors to MEXC’s booth will find knowledgeable representatives ready to demonstrate the platform’s capabilities and explain why MEXC continues to be “Your Easiest Way to Crypto” for millions of users worldwide.
About MEXC Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 36 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding. MEXC Official Website | X | Telegram | How to Sign Up on MEXC
Risk Disclaimer: The information provided in this article regarding cryptocurrencies does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, the fundamentals of projects, and potential financial risks before making any trading decisions.
Disclaimer:This press release is provided by MEXC. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Speculate only with funds that you can afford to lose.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.
Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.
Singapore’s Ministry of Trade and Industry (MTI) on Monday revised down its full-year GDP growth forecast for 2025 for the country to a range of 0.0 to 2.0 percent, citing the far-reaching impact of sweeping U.S. tariffs on global trade and economic activity.
The previous forecast projected growth of between 1.0 and 3.0 percent.
In a statement, the ministry said the regional economic outlook will be weakened by falling external demand, in part due to the broader repercussions of the tariffs on global trade flows and growth. “Business and consumer sentiments will also be dampened, thereby crimping domestic consumption and investments in many economies,” it noted.
For Singapore, the MTI assessed that the external demand outlook has “weakened significantly” for the rest of the year, negatively affecting the outlook for outward-oriented sectors. The manufacturing sector is expected to be particularly impacted by slowing global demand. This, along with weakening global trade, will likely weigh on the performance of the wholesale trade sector.
Similarly, the transportation and storage sector is projected to face headwinds, as reduced global trade volumes drag down demand for shipping and air cargo services.
The finance and insurance sector could also see softer performance. Weaker trading activity amid heightened risk-off sentiment may depress net fees and commission income across banking, fund management, foreign exchange, and securities trading.
In addition, the uncertain economic environment is likely to dampen firms’ capital investment plans and constrain credit intermediation activity.
Payments firms may also experience slower growth, in tandem with subdued business activity and weaker consumer spending, the MTI added.
GEORGE TOWN, Cayman Island, April 14, 2025 (GLOBE NEWSWIRE) — Toobit, a rising star in the cryptocurrency trading world, has always prioritized user experience, innovation, and access to powerful trading tools. As part of its ongoing mission to empower traders of all levels, Toobit has just unveiled its latest upgrade: the integration of its Futures trading functionality with TradingView. This exciting development bridges one of the most popular charting platforms with Toobit’s advanced futures trading, promising a more intuitive, data-rich trading experience.
What Is TradingView?
TradingView is a widely respected charting and social network platform used by millions of traders worldwide. Known for its sleek interface and comprehensive set of technical analysis tools, TradingView allows users to monitor financial markets, draw insights, and share trading ideas in real-time.
When it comes to futures trading, TradingView becomes even more powerful. It provides dynamic charts, a wide array of indicators, and the ability to test strategies—making it an essential tool for both novice and professional traders. The integration with Toobit means users can now access all these tools directly while trading, making decision-making faster and more data-driven.
Key Benefits of Integration
The TradingView and Toobit integration brings several standout advantages:
Real-Time Market Data Visualization: Toobit traders can now view live futures data on TradingView’s interface, enhancing situational awareness and reaction speed during fast-moving markets.
Advanced Charting Tools: Traders gain access to a suite of indicators, drawing tools, and customizable layouts that allow for deep technical analysis of futures pairs.
Seamless Trading Experience: By linking Toobit accounts to TradingView, users can execute trades, set orders, and monitor positions—all within a single, unified interface.
What This Means for the Toobit Community
This integration is a significant leap forward for the Toobit ecosystem! Here are some reasons why:
Enhanced Technical Analysis Capabilities: Traders now have the tools to identify opportunities and trends with greater accuracy using TradingView’s professional-grade charts.
Improved User Interface and Experience: Navigating between analysis and execution is smoother than ever, reducing friction and improving efficiency.
Competitive Edge: This feature gives Toobit users an advantage by merging high-quality analysis with fast, direct execution—something that can be a game-changer in the volatile crypto futures market.
What’s Next for Toobit?
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Contact: Erin G Email: erin.gao@toobit.com Website: www.toobit.com
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Source: People’s Republic of China – State Council News
BEIJING, April 14 — A signed article by General Secretary of the Communist Party of China Central Committee and Chinese President Xi Jinping titled “Building on past achievements and making new advances in pursuit of shared goals” was published Monday in the Nhan Dan Newspaper of Vietnam as he is traveling to Vietnam for a state visit to the country.
The following is the full text of the article:
Building on past achievements and making new advances in pursuit of shared goals
Xi Jinping
General Secretary of the Communist Party of China Central Committee and President of the People’s Republic of China
Late spring is full of vitality. As China and Vietnam celebrate the 75th anniversary of diplomatic relations, I will soon pay a state visit to Vietnam at the invitation of Comrade To Lam, General Secretary of the Central Committee of the Communist Party of Vietnam, and Vietnamese President Comrade Luong Cuong. This will be my fourth visit to this beautiful country since I became General Secretary of the Central Committee of the Communist Party of China and President of the People’s Republic of China. I look forward to renewing friendship with Vietnamese leaders, discussing ways of boosting cooperation, and drawing up a new blueprint for the China-Vietnam community with a shared future in the new era.
China and Vietnam are friendly socialist neighbours sharing the same ideals and extensive strategic interests. The profound friendship between the two parties and two peoples, forged decades ago, has grown stronger as we explore a socialist path suited to our respective national conditions and advance our respective modernization drive. Building the China-Vietnam community with a shared future that carries strategic significance serves the common interests of our two countries and is conducive to peace, stability, development and prosperity in our region and beyond. It conforms with the trend of history. And it is the choice by our peoples.
The China-Vietnam community with a shared future is inherited from our distinctive revolutionary traditions. During modern times, pioneers of Chinese and Vietnamese revolutions together explored a path to national salvation and made important contribution to the Third World’s victory in the struggle against colonialism and imperialism. The historical site of the Vietnamese Revolutionary Youth League in Guangzhou and the site of the office of the League for Independence of Vietnam in Jingxi, Guangxi Zhuang Autonomous Region bear witness to the revolutionary friendship between China and Vietnam. President Ho Chi Minh joined and supported the Chinese People’s War of Resistance Against Japanese Aggression in Yan’an, Guilin, Chongqing and Kunming. China sent military and political advisers in support of the Vietnamese people’s War Against French Occupation. The Communist Party of China and the Chinese government and people gave full support for Vietnam’s just War Against U.S. Aggression to Save the Nation. The well-known line: “The friendship between Vietnam and China is so profound because we are both comrades and brothers,” is etched on our shared revolutionary memory.
The China-Vietnam community with a shared future is based on strong political mutual trust. In recent years, General Secretary Nguyen Phu Trong, General Secretary To Lam and other Vietnamese leaders and I have visited each other many times, steering the course for building a China-Vietnam community with a shared future. Our two parties and two countries have kept close high-level engagement. Mechanisms such as the steering committee for bilateral cooperation, the party-to-party theoretical symposium, the border defence friendship exchange, and the conference on crime control between the two public security ministries are functioning smoothly. High-level mechanisms including the joint committee between the National People’s Congress of China and the National Assembly of Vietnam have been established. The “3+3” strategic dialogue on diplomacy, defence and public security between our two countries has been held successfully. China and Vietnam hold similar positions on many regional and international issues and have engaged in close coordination on them.
The China-Vietnam community with a shared future is rooted in our fruitful cooperation. China and Vietnam have pursued closer cooperation on industrial and supply chains amid a sluggish global economic recovery. China has been Vietnam’s biggest trading partner for over 20 years in a row, with total bilateral trade exceeding 260 billion USD in 2024. More and more quality Vietnamese agricultural products such as durian and coconut are available to Chinese consumers. Railway connectivity and the smart port development project are being steadily advanced. Solar panels, waste-to-energy plants and other bilateral clean energy projects have boosted electricity supply in Vietnam. The Cat Linh-Ha Dong metro line built by a Chinese company makes public transport in Hanoi more convenient. Contributing to each other’s success and pursuing common development, China and Vietnam have set an example of solidarity and cooperation in the Global South.
The China-Vietnam community with a shared future is advanced by close people-to-people exchanges. Over the years, we have seen ever more people-to-people exchanges that foster increasingly closer ties between Chinese and Vietnamese peoples. Chinese tourists made more than 3.7 million visits to Vietnam in 2024. With the official launch of the Detian-Ban Gioc Waterfall Cross-Border Tourism Cooperation Zone and the opening of several cross-border road trip routes, visiting two countries in a single day has become possible. Chinese film and television productions and video games are popular among young Vietnamese, and more people in Vietnam are learning Chinese. Many Vietnamese songs are now on hot search lists on social media in China, and many Chinese diners relish pho and other Vietnamese delicacies.
Today, global, epoch-making and historical changes are unfolding like never before, and the world has entered a new period of turbulent transformation. Despite the headwinds of mounting unilateralism and protectionism, the Chinese economy expanded by five percent in 2024, contributing around 30 percent to the global economy. It remains a key engine of the world economy. China’s new energy sector, artificial intelligence and animated films have come into global spotlight. China will continue to provide more opportunities to the world with its high-standard opening up, and will contribute to the development of all countries with its high-quality development.
Asia represents a new elevation in global cooperation and development. At a new starting point toward revitalisation of the whole region, Asia faces both unprecedented opportunities and challenges. China will ensure continuity and stability of its neighbourhood diplomacy. We will stay committed to the principle of amity, sincerity, mutual benefit and inclusiveness. We will continue to pursue the policy of forging friendship and partnership with our neighbours. And we will steadily deepen friendly cooperation with them to advance Asia’s modernization.
China is going all out to build a great modern socialist country and achieve the rejuvenation of the Chinese nation by pursuing Chinese modernization. Vietnam will usher in a new epoch of national development toward the two goals set for the centenary of the party and the country respectively. China always gives Vietnam high priority in its neighbourhood diplomacy. Our two countries should strengthen our efforts on all fronts to build the China-Vietnam community with a shared future, and contribute more to peace, stability, development and prosperity in Asia and the world at large.
— We should deepen strategic mutual trust and advance the socialist cause. The two sides should act on the guidance of the leaders. The China-Vietnam steering committee for bilateral cooperation should coordinate our interactions more effectively to boost party, government, military, law enforcement and security cooperation; jointly tackle external risks and challenges; and uphold political security. China is ready to enhance exchanges of governance practices with Vietnam, explore and enrich together socialist theory and practices, and promote the steady development of the two countries’ socialist cause.
— We should continue win-win cooperation and deliver more benefit to our two peoples. We should create greater synergy between our development strategies, implement well the cooperation plan between the two governments on synergizing the Belt and Road Initiative and the Two Corridors and One Economic Circle strategy, and build more platforms for economic and technological cooperation. China stands ready to advance cooperation with Vietnam on the three standard-gauge railways in northern Vietnam and the smart port. China welcomes more quality Vietnamese products in the Chinese market and encourages more Chinese enterprises to invest and do business in Vietnam. Our two countries should step up cooperation on industrial and supply chains, and expand cooperation in emerging areas such as 5G, artificial intelligence and green development to create more benefits for the two peoples.
— We should strengthen people-to-people exchanges and forge a closer bond between our peoples. This year is the China-Vietnam Year of People-to-People Exchanges, and we should use this opportunity to promote people-to-people exchanges in diverse forms. China welcomes Vietnamese visitors to travel across China and encourages Chinese tourists to visit scenic sites in Vietnam. Our two countries should carry out more activities that will bring our two peoples together such as the friendly meeting between youth and festive events in border areas. We should further tap into our revolutionary resources and tell stories of friendship that resonate with our two peoples, so as to pass on the baton of China-Vietnam friendship from generation to generation.
— We should enhance multilateral collaboration and promote Asia’s prosperity and revitalization. This year marks the 80th anniversary of the victory in the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War as well as the 80th anniversary of the founding of the United Nations. Our two countries should firmly uphold the UN-centered international system and the international order underpinned by international law. It is important that we pursue the Global Development Initiative, the Global Security Initiative and the Global Civilisation Initiative. It is also important that we promote an equal and orderly multipolar world and a universally beneficial and inclusive economic globalization. We should work together with the Global South to uphold the common interests of developing countries. Trade war and tariff war will produce no winner, and protectionism will lead nowhere. Our two countries should resolutely safeguard the multilateral trading system, stable global industrial and supply chains, and open and cooperative international environment. We should strengthen coordination in mechanisms such as East Asia cooperation and Lancang-Mekong cooperation so as to ensure more stability for a changing and turbulent world and inject more positive energy in it.
— We should properly manage differences and safeguard peace and stability in our region. The successful delimitation of our boundaries on land and in the Beibu Gulf demonstrates that with vision, we are fully capable of properly settling maritime issues through consultation and negotiation. The two sides should implement the common understanding reached between the leaders of the two parties and the two countries. We should make good use of the maritime negotiation mechanism so as to properly manage maritime differences, expand maritime cooperation, and build up conditions for the final resolution of the disputes. We should fully and effectively implement the Declaration on the Conduct of Parties in the South China Sea and actively advance the consultation on a Code of Conduct in the South China Sea. We should be impervious to all interference; bridge differences and expand common ground; and make the South China Sea a sea of peace, friendship and cooperation.
Standing at this new starting point of history, China is ready to work with Vietnam to build on past achievements, write a new chapter in building the China-Vietnam community with a shared future, and contribute even more to building a community with a shared future for mankind.
At a recent investment promotion event in north China’s Tianjin Municipality, Turkish businessman Mehmet Sahin was seen exchanging business cards with entrepreneurs from Shanghai Cooperation Organization (SCO) member countries.
This undated file photo shows a view of the China-Egypt TEDA Suez Economic and Trade Cooperation Zone in Ain Sokhna district of Suez province, Egypt. (TEDA Investment Holding Co., Ltd./Handout via Xinhua)
“I really appreciate attending this event,” said Sahin, vice president of global purchasing and logistics at Hattat Holding A.S., a Turkish company engaged in energy, automotive, agricultural and real estate development. He noted his assurance that the event would help him meet with potential Chinese and Russian investors and cooperation partners.
The China-SCO Sustainable Development Industrial Investment Promotion Event, which concluded on Friday, saw Sahin’s company engage in negotiations with the China Coal Technology & Engineering Group to explore investment opportunities in potential coal-cleaning projects.
Broader cooperation with Chinese enterprises is also underway in sectors such as engine assembly, production and sales, as well as wind power generation, according to Sahin.
“This event has been a good start, and the upcoming SCO summit will further promote mutual understanding and future planning among all participating countries,” he said.
China will host an SCO summit in Tianjin this autumn. Among the summit’s advance events, the promotional event Sahin attended has brought fresh momentum to economic and trade cooperation between China and SCO member states, observer states and dialogue partners.
Türkiye, Sri Lanka, Egypt, the United Arab Emirates (UAE) and Saudi Arabia were among the participating SCO dialogue partners.
During the event, the China-Egypt TEDA Suez Economic and Trade Cooperation Zone disclosed significant progress.
The Tianjin TEDA Electric Power Company announced a partnership with SCZone Utilities S.A.E., and revealed that the China-Africa TEDA Investment Co., Ltd., which developed the cooperation zone, will build a 200-megawatt substation.
This critical infrastructure project aims to resolve power supply constraints for major projects in the cooperation zone, lower business costs for enterprises while drawing in premium investors, and accelerate industrial clustering in the zone, according to Wang Weihua, general manager of the Tianjin TEDA Electric Power Company.
Established in 2008, the zone has become Egypt’s most competitive industrial hub, serving as a benchmark of China-Egypt cooperation.
“Tianjin TEDA is one of our best partners,” said Ahmed Salaheldin Abdelfattah Elhomosani, general manager of SCZone Utilities S.A.E., noting that the cooperation zone has attracted a significant amount of investment.
Trade between China and SCO member states, observer states and dialogue partners came in at a record high of 890 billion U.S. dollars in 2024, accounting for approximately 14.4 percent of China’s total foreign trade that year, according to official statistics.
China is committed to safeguarding an open, inclusive, transparent and non-discriminatory multilateral trading system, said Commerce Minister Wang Wentao on Friday during a video call with Director-General of the World Trade Organization (WTO) Ngozi Okonjo-Iweala.
During the video call, the two sides exchanged views on issues such as responding to the so-called “reciprocal tariffs” imposed by the United States, maintaining the multilateral trading system, and giving play to the role of the WTO, according to a statement released by China’s commerce ministry on Saturday.
Wang said the fabrication of “reciprocal tariffs” out of thin air by the United States is a typical practice of unilateral bullying. These tariffs will inflict serious harm on developing countries, especially the least developed nations, and could even trigger humanitarian crises.
Wang called on WTO members to unite and counter unilateralism, protectionism, and bullying practices through openness, cooperation, and multilateralism.
Okonjo-Iweala said that escalating trade tensions have posed serious challenges to global trade and economic growth prospects. WTO members should work together to defend an open, rules-based multilateral trading system and resolve differences through dialogue and cooperation under the WTO framework.
The third edition of InnoEX, a four-day innovation and technology expo, kicked off in Hong Kong on Sunday, spotlighting cutting-edge advancements in AI, robotics, low-altitude economy, cybersecurity, and smart mobility.
Co-organized by the Innovation, Technology and Industry Bureau of the Hong Kong Special Administrative Region government and the Hong Kong Trade Development Council (HKTDC), the event aims to foster global collaboration in tech innovation, focusing on the theme of “Innovate, Automate and Elevate”.
Sun Dong, secretary for Innovation, Technology and Industry, said the expo brings together entrepreneurs, investors, and tech leaders worldwide through exhibitions, networking sessions, and seminars, creating opportunities for international partnerships.
HKTDC Executive Director Margaret Fong said this year’s InnoEX features over 500 exhibitors from 17 countries and regions, including first-time participants such as Australia, Luxembourg, Malaysia, Sweden, and the United Arab Emirates, alongside expanded showcases from Japan, Thailand, and the UK.
Running concurrently, the 21st Hong Kong Electronics Fair (Spring Edition) focuses on smart home solutions, health tech, and wearable devices.
As core events of Hong Kong’s International I&T Business Week 2025, the twin expos have drawn more than 2,800 exhibitors from 29 countries and regions.
Ida Liu, marketing director of Seagull (Suzhou) Flying Car Limited, said in an interview that the company is leveraging Hong Kong’s global connectivity to expand its international presence and explore partnerships.
Derek Chim, head of Startup Ecosystem and Development at Hong Kong Science and Technology Parks Corporation (HKSTP), said the InnoEX has become a flagship innovation and technology exhibition in Asia, attracting industry experts, investors and buyers from around the world.
“We will seize this opportunity to accelerate the expansion of tech enterprises in the Asia-Pacific region and global markets,” he added.
The expo also features four themed days, each hosting forums on trending tech topics, further enriching the exchange of ideas.
Import-related biosecurity treatment stakeholders, including all importers, brokerages, onshore approved arrangement holders, overseas government and industry treatment providers, relevant domestic state and territory government agencies, and other shipping, freight, and logistics peak industry bodies.
What has changed?
This is a reminder that the Department of Agriculture, Fisheries and Forestry (the department) will…
The National Consumer Commission (NCC) and the Public Service Sector Education and Training Authority (PSETA) have entered into a strategic partnership to collaborate on skills development and research on emerging issues.
This was done through a five-year Memorandum of Understanding (MoU).
“As part of the MoU, PSETA can place its graduates at the NCC, significantly contributing to the NCC’s work. In turn, through its internship programme, which these graduates will join, the NCC will help ensure that the programme aligns with the skills demanded by the workplace. This will ensure that the graduates are well-trained and ready for the industry by the end of their training,” a joint statement by the NCC and PSETA said on Saturday.
PSETA’s focus is primarily on transversal skills within the Public Service sector. These skills, dubbed the ‘business of government’, include administration, management, planning, legislation and policy development. They form the focus to drive the growth of skills and competencies in areas that will make the delivery of the business of government.
The PSETA is a statutory body entrusted with driving skills development across the public sector. As an agency of the Department of Trade, Industry and Competition, the primary role of the NCC is to protect the interests of consumers and ensure accessible, transparent and efficient redress for consumers.
“As mandated by the Skills Development Act and aligned with the National Skills Development Plan (NSDP) 2030, PSETA plays a critical role in shaping a professional, ethical, and capable public service workforce.
“As a trusted Authority, PSETA is committed to driving impactful, inclusive, and sustainable skills development that strengthens institutional capacity and supports service delivery excellence across the public sector,” the statement said.
The MoU, among other things, aims to achieve the following:
• Identify priority research areas, including research to support the Public Service, in line with both parties’ research agendas and the PSETA’s Sector Skills Plan (SSP) priorities; • Facilitate cooperation and support on the development of capacity and capabilities for members and officials of the Public Service and unemployed learners, aligned to the PSETA SSP priorities, the National Development Plan, the National Skills Development Plan priorities and the Public Service; • Human Resource Development Strategy; • Facilitation and regular sharing of information on matters mutually relevant to the Parties; • Encourage the maximised usage of shared resources; and • Setting out the parameters for cooperation and support under the objectives of the MoU.
President Cyril Ramaphosa has hosted the first engagement between government and the leadership of the church since the start of the Seventh Administration.
The President hosted the leadership of the South African Council of Churches (SACC) at the Union Buildings in Pretoria on Friday under the banner of the Government of National Unity.
The meeting presented an opportunity for the SACC to introduce its new and recently elected leadership.
“We welcome the opportunity to be introduced to the new leadership of the SACC and to discuss matters that concern the church and the people of South Africa,” the President said. The meeting discussed a wide range of issues of national interest ranging from the National Dialogue initiative, government’s ongoing fight against crime and corruption and the access of state services.
President Ramaphosa committed that the National Dialogue will bring together all sectors of society and encourage the participation of all South Africans.
“Importantly, the National Dialogue must be informed by extensive public consultation in localities facilitated by various sectors of society. It needs to give a voice to those in society who are not often heard, to people who are marginalised, to those who are most vulnerable to poverty, violence and exploitation,” the President said.
It is envisaged that the National Dialogue will build on the achievements of 30 years of democracy.
Among other things, it will need to address challenges of low growth and job creation, poverty and hunger, governance, corruption and fiscal constraints. It will also need to address gender-based violence and femicide, social fragmentation, racism and sexism, violence and the potential for instability.
Government also briefed the SACC on South Africa’s Group of Twenty (G20) Presidency along with regional and international issues of concern.
“The meeting heard about government’s ongoing work in implementing the recommendations of the State Capture Commission. This includes criminal investigations and prosecutions, the recovery of stolen funds, legislative amendments and strengthening institutions.
“Furthermore, government remains focused on strengthening and resourcing key institutions in the criminal justice system, like the NPA [National Prosecuting Authority], Hawks and SIU [Special Investigating Unit], this includes the establishment of the NPA’s Investigating Directorate Against Corruption as a permanent entity to prosecute state capture and other significant corruption cases,” the Presidency said.
The President also committed government’s support for greater cooperation between churches and government bodies that are on the frontline of providing services to people – most notably the Departments of Home Affairs and Social Development. He highlighted South Africa’s drive for an inclusive G20.
The President said dialogue with civil society and other non-government institutions will be conducted through various engagement groups.
“Following the approach of the Brazilian Presidency, a G20 Social Forum will be convened. This will bring together representatives of the existing engagement groups and other segments of civil society including various faith formations.
“The President assured the church leaders that South Africa will continue to pursue an independent foreign policy and will not align itself with any of the major powers or blocs in the world,” the Presidency said.
Ramaphosa asserted that South Africa remains engaged in efforts to bring about peace and stability in various parts of our region and continent, especially through the Southern African Development Community (SADC) and African Union initiatives. “South Africa continues to use its participation in fora like the G20, BRICS, Non-Aligned Movement, African Union and United Nations to advance a rules-based multilateralism that is fair and inclusive. We are committed to the reform of global institutions to ensure that they represent the needs and interests of all countries,” the President said. –SAnews.gov.za
Source: People’s Republic of China – State Council News
China’s Hainan FTP brings about broader opportunities through high-level opening up
HAIKOU, April 13 — At the Yiling Life Care Center in the Boao Lecheng International Medical Tourism Pilot Zone, patients are seen undergoing rehabilitation exercises under the guidance of therapists in a spacious, bright hall.
In an equipment room, Damien Meunier, from France, is intently calibrating a therapy device, adjusting parameters and components with focused precision.
Meunier first visited China in 2019 as a tourist and was soon drawn to the unique opportunities emerging in Hainan’s healthcare sector amid the rapidly developing Hainan Free Trade Port (FTP). In 2021, he joined Yiling Life Care Center as a medical equipment engineer, based in Boao Township in south China’s Hainan Province.
“The Hainan FTP is the ideal place for my career development,” said Meunier. “It combines opening-up policies, innovation, and exceptional life quality.”
As China’s only “medical special zone,” the Boao Lecheng International Medical Tourism Pilot Zone, established in 2013, was granted special policy support that allows eligible pharmaceuticals and medical devices, licensed abroad but not yet available domestically, to be used for patients through streamlined procedures.
The pilot zone is the epitome of Hainan’s role as a gateway for global openness.
In April 2018, China announced a decision to develop Hainan into a pilot free trade zone while gradually exploring and steadily promoting the establishment of an FTP with Chinese characteristics. In June 2020, a master plan was rolled out to build the island into a globally influential and high-level FTP by the middle of the century.
Seven years on, Hainan has built a policy framework centered on “free and convenient trade, investment, cross-border capital flows, personnel mobility and transportation, and the safe and orderly flow of data,” and an FTP system underpinned by features like zero tariffs, low tax rates, and simplified tax systems.
Amid global headwinds against globalization, the Hainan FTP stands as China’s testament to unwavering openness.
Official statistics show that by the end of 2024, the province was home to 9,979 foreign-funded enterprises, with 77.3 percent established after June 2020. The number of countries and regions investing in Hainan has jumped from 43 in 2018 to 174 today.
As an important part of the Hainan FTP construction, Hainan has adopted a variety of measures to optimize its business environment to facilitate free and convenient trade and investment.
“In alignment with the world’s highest standards of openness, Hainan has formulated and implemented a series of opening-up measures to create a ‘foreign investor-friendly’ business environment,” said Wang Xuehao, deputy head of the Hainan Provincial Department of Business Environment Development. “The measures include expanding the scale of innovative development in trade of goods, promoting two-way investment, and fostering cross-border industrial chain cooperation.”
In the Haikou Comprehensive Bonded Zone, Hainan GoldMax Dairy Co., Ltd. has established an industrial park spanning over 50,000 square meters, integrating offshore duty-free retail, e-commerce, general trade and cross-border supplied materials processing, reflecting the company’s strong confidence in the potential of the Hainan FTP.
“The Hainan Free Trade Port has provided us with vast development space and opportunities and helped us bring high-quality products to China and beyond,” said Wu Suguo, CEO of the dairy company.
By the end of this year, the free trade port will officially begin independent customs operations, which will be “a form of openness on a larger scale,” said Zhao Jinping, a member of the Expert Advisory Committee for the Construction of the Hainan Free Trade Port. “It means the connectivity between the Hainan Free Trade Port and the rest of the world will become even smoother.”
Currently, all 31 port infrastructure projects needed for independent customs operations have been completed, laying a solid foundation for efficient flow and supervision of goods and personnel.
Meanwhile, as the Hainan FTP begins independent customs operations by the year’s end, its preferential policies such as “zero tariffs, low tax rates, and simplified tax systems” will be implemented more comprehensively and meticulously. A series of core free trade port policies are also expected to be accelerated for full implementation.
According to Meunier, once the Hainan FTP begins independent customs operations, the advantages will become more evident in areas such as imported equipment, cutting-edge technologies, and international tourism. “I look forward to the future of the Hainan FTP.”
Source: People’s Republic of China – State Council News
The economic and trade ties between China and Vietnam are expected to rise to a new level, driven by the two countries’ highly complementary trade structures, Vietnam’s modernization drive and the growing influence of the Regional Comprehensive Economic Partnership, according to market watchers and exporters.
Amid rising protectionism and unilateral challenges, China and Vietnam are pressing ahead with industrial upgrading and digital transformation, positioning themselves to tap into new growth opportunities across key sectors such as advanced manufacturing, green energy, smart logistics, e-commerce and regional supply chain integration, they said.
United by common aspirations for sustainable growth and economic resilience, the two countries are on track to forge even deeper and more dynamic economic ties in the years to come, said Wan Zhe, a professor specializing in regional economic development at Beijing Normal University.
Bilateral business relations have witnessed remarkable progress, especially in recent years, with Vietnam introducing key national strategies such as the National Green Growth Strategy for 2021-2030, vision towards 2050; the National Strategy on R&D and Application of Artificial Intelligence; and the National Strategy for 4th Industrial Revolution.
Wan said that these forward-looking initiatives have significantly enhanced Vietnam’s appeal as a destination for investment and innovation, attracting a substantial influx of Chinese and foreign capital and technologies over the past several years.
“This growing synergy has laid a strong foundation for deeper economic and technological collaboration between the two countries,” she added.
Vietnam has become a key overseas investment destination for China. In 2024, from January to August, Chinese companies invested $1.97 billion in the Southeast Asian country, maintaining a rapid rate of growth, according to the latest data released by China’s Ministry of Commerce.
Benefiting from a booming intermediate goods trade, the rising freight volume on the China-Vietnam Railway and substantial gains resulting from the RCEP and the Belt and Road Initiative, China-Vietnam trade surged 14.6 percent year-on-year to 1.85 trillion yuan ($254.05 billion) in 2024, statistics from China’s General Administration of Customs showed.
This momentum continued in the first two months of this year, with the value of bilateral trade rising 8.2 percent on an annual basis to 270.96 billion yuan, customs data showed.
China’s exports to Vietnam include machinery, telecommunication equipment, electronic components, industrial raw materials, trains, ships, trucks, household appliances and construction materials.
In addition to agricultural and aquatic products such as seafood, fruits, coffee and rice, Vietnam’s exports to China include smartphones, computers, rubber, footwear, garments and furniture.
In the medium to long term, China and Vietnam are more likely to deepen industrial complementarity and division of labor rather than engage in direct competition, said Gao Lingyun, a researcher at the Institute of World Economics and Politics, which is affiliated with the Chinese Academy of Social Sciences in Beijing.
“This is because both countries are at different stages of development and have distinct strengths,” said Gao, adding China leads in high-end manufacturing and technological capabilities, while Vietnam offers advantages in assembly industries and young and high-quality workers.
On top of this, free trade deals with various economies, such as the EU (European Union)-Vietnam Free Trade Agreement and Comprehensive and Progressive Agreement for Trans-Pacific Partnership, have opened up opportunities, he added.
Echoing that sentiment, Lan Qingxin, a professor specializing in cross-border investment studies at the University of International Business and Economics in Beijing, said that compared with other Southeast Asian countries as well as India and Mexico, Vietnam holds a competitive edge and market potential due to its proximity to China and its friendly foreign investment policies.
This complementary dynamic fosters a win-win partnership, reinforcing the depth and resilience of China-Vietnam economic ties, said Lan.
Ningbo Dafa Chemical Fiber Co, a textile and chemical raw materials manufacturer in Ningbo, Zhejiang province, has been actively exploring new possibilities in the Vietnamese market.
“Vietnam has a well-developed furniture manufacturing industry, which drives strong demand for textile yarns and synthetic fiber materials. Our products are mainly used for furniture padding and bedding production,” said Wang Ling, the company’s sales director.
Ningbo Dafa’s exports to Vietnam grew by 10.3 percent year-on-year to 20.64 million yuan in the first two months of this year, according to Ningbo Customs.
Source: People’s Republic of China – State Council News
A visitor tours the China Pavilion at the Osaka Expo in Osaka, Japan, April 13, 2025. The China Pavilion officially opened on Sunday at the Osaka Expo, with an opening ceremony held in front of the pavilion’s main building, which is designed to resemble a traditional Chinese scroll. Inspired by traditional Chinese calligraphy scrolls, the pavilion’s architectural design embodies the theme of “Building a Community of Life for Man and Nature — Future Society of Green Development.” Osaka Expo 2025 will run from April 13 to October 13, 2025. The China Pavilion, one of the largest foreign self-built pavilions at the event, covers approximately 3,500 square meters. [Photo/Xinhua]
OSAKA, Japan, April 13 — The China Pavilion officially opened on Sunday at the Osaka Expo, with an opening ceremony held in front of the pavilion’s main building, which is designed to resemble a traditional Chinese scroll.
Around 300 guests attended the opening event.
In his speech, Ren Hongbin, chairman of the China Council for the Promotion of International Trade, emphasized China’s strong support for Japan in hosting the Expo.
He expressed the hope that the pavilion’s exhibitions would present an image of a confident and open China, leaving a memorable mark on the Expo and contributing to a more equal and inclusive global future.
Bureau International des Expositions Secretary General Dimitri Kerkentzes spoke highly of China’s participation in world expos, noting that visitors to the China pavilion will be able to experience the country’s cultural heritage, ancient wisdom, and modern innovations.
Japan Association for the 2025 World Expo Chairperson Masakazu Tokura stressed the importance of Japan-China relations, hoping that Expo 2025 would serve as a launchpad for future-oriented international cooperation.
The opening ceremony also featured a traditional lion dance and a performance of the dance drama “The Crested Ibis,” both warmly received by the audience.
Osaka Expo 2025 will run from April 13 to October 13, 2025. The China Pavilion, one of the largest foreign self-built pavilions at the event, covers approximately 3,500 square meters.
Inspired by traditional Chinese calligraphy scrolls, the pavilion’s architectural design embodies the theme of “Building a Community of Life for Man and Nature — Future Society of Green Development.”
The pavilion features three sections to showcase China’s traditional ecological wisdom, modern green development initiatives, and its vision of global cooperation in fostering a sustainable future.
Highlights include side-by-side displays of lunar soil samples collected by China’s Chang’e-5 and Chang’e-6 missions, the “Jiaolong” deep-sea submersible experience capsule and next-generation humanoid robots.
A robot greets guests outside the China Pavilion at the Osaka Expo in Osaka, Japan, April 13, 2025. [Photo/Xinhua]A visitor tours the China Pavilion at the Osaka Expo in Osaka, Japan, April 13, 2025. [Photo/Xinhua]People visit the “Jiaolong” deep-sea submersible experience capsule in the China Pavilion at the Osaka Expo in Osaka, Japan, April 13, 2025. [Photo/Xinhua]A visitor tours the China Pavilion at the Osaka Expo in Osaka, Japan, April 13, 2025. [Photo/Xinhua]A visitor tours the China Pavilion at the Osaka Expo in Osaka, Japan, April 13, 2025. [Photo/Xinhua]People visit a souvenir shop of the China Pavilion at the Osaka Expo in Osaka, Japan, April 13, 2025. [Photo/Xinhua]A visitor looks at lunar soil samples collected by China’s Chang’e-5 and Chang’e-6 missions in the China Pavilion at the Osaka Expo in Osaka, Japan, April 13, 2025. [Photo/Xinhua]A visitor tours the China Pavilion at the Osaka Expo in Osaka, Japan, April 13, 2025. [Photo/Xinhua]A visitor tours the China Pavilion using a mixed reality (MR) device at the Osaka Expo in Osaka, Japan, April 13, 2025. [Photo/Xinhua]Actors perform during the opening ceremony of the China Pavilion at the Osaka Expo in Osaka, Japan, April 13, 2025. [Photo/Xinhua]This photo taken on April 13, 2025 shows the lunar soil sample collected by China’s Chang’e-5 mission displayed in the China Pavilion at the Osaka Expo in Osaka, Japan. [Photo/Xinhua]People visit the China Pavilion at the Osaka Expo in Osaka, Japan, April 13, 2025. [Photo/Xinhua]Ren Hongbin, chairman of the China Council for the Promotion of International Trade, addresses the opening ceremony of the China Pavilion at the Osaka Expo in Osaka, Japan, April 13, 2025. [Photo/Xinhua]Chinese Ambassador to Japan Wu Jianghao addresses the opening ceremony of the China Pavilion at the Osaka Expo in Osaka, Japan, April 13, 2025. [Photo/Xinhua]Visitors line up to enter the China Pavilion at the Osaka Expo in Osaka, Japan, April 13, 2025. [Photo/Xinhua]
Agricultural and Processed Food Products Export Development Authority (APEDA) and Government of Arunachal Pradesh hosts International Conclave cum Buyer-Seller Meet at Tawang, Arunachal Pradesh 11 Buyers from 3 countries, 17 Indian exporters from 7 States and Union Territories (UTs) and over 200 farmers participate
Posted On: 12 APR 2025 11:44AM by PIB Delhi
The Agricultural and Processed Food Products Export Development Authority (APEDA) in collaboration with the Government of Arunachal Pradesh, hosted an International Conclave cum Buyer-Seller Meet (IBSM) at Kalawangpo Convention Hall in Tawang, Arunachal Pradesh to promote agricultural and processed food products exports from Arunachal Pradesh and the broader North-Eastern Region (NER) of India.
In his keynote address, the Chief Minister of Arunachal Pradesh, Shri Pema Khandu committed to developing the agricultural & allied sectors, enhancing farmer’s livelihoods, empowering Self-Help Groups and encouraged women led development. He envisions enhancing agri-exports of GI tagged Khaw Tai Rice (known as Khamti Rice), Mandarin Orange, Kiwi, Apple, Persimmon, Yak Cheese (Churpi), amongst others to South East Asian and ASEAN Countries. He encouraged domestic and international buyers to be a boon for the state and invest in the state’s untapped potential.
The Minister of Agriculture, Govt. of Arunachal Pradesh, Shri Gabriel Denwang Wangsu emphasized on the need to generate awareness and build capacity of the farmers of the state in order to ensure fair price for their agriculture products in domestic and international markets. He appreciated the farmers of the region for their unwavering commitment in producing the state’s finest Kiwi, Mandarin Oranges, Apples, walnuts and Value-Added Products like wines, amongst others.
The International Conclave cum Buyer Seller Meet (BSM) was also graced by Chief Secretary (CS), Govt. of Arunachal Pradesh, Shri Manish Gupta, Former Union Secretary, Government of India, Shri Siraj Hussain and Chairman of APEDA, Shri Abhishek Dev, amongst several officers of the Central and State Government of India.
The Chairman of APEDA, Shri Abhishek Dev, encouraged the identification of Farmer Producer Organisations (FPOs)/ Farmer Producer Companies (FPCs) from Arunachal Pradesh for participation in key national and international Trade Fairs for market access, promotion and outreach. He assured that APEDA and the Government of Arunachal Pradesh are committed to working together closely for the identification and development of focused agriculture products from Arunachal Pradesh for exports to international markets, infrastructure development, training and capacity building of farmers, Farmer Producer Organisation (FPO), Farmer Producer Companies (FPCs), Women’s Self Help Groups (SHGs), Start-ups and Exporters from the region as well as branding and international promotions of agriculture produce and Value Added Products from the state.
The International Conclave cum Buyer-Seller Meet enabled direct interactions between 11 international Buyers from 3 countries including UAE, Nepal and Bhutan with 17 Indian exporters from 7 states and Union Territories (UTs) including Assam, Maharashtra, Delhi, Hyderabad, Karnataka, Gujarat and West Bengal. The exporters from across the country also interacted with over 50 FPOs and 200 farmers from Arunachal Pradesh who participated in the event to understand the agri produce quality, availability and production quantities.
APEDA facilitated meaningful trade discussions amongst Policymakers, Buyers, Exporters, Exhibitors, industry leaders and experts from key sectors such as Organic produce, Millets, Honey, Fresh Fruits and Vegetables, Processed Food, Spices and Tea aimed at unlocking the potential of Arunachal Pradesh’s agri-business and processed food export sectors.
To realise the Hon’ble Prime Minister, Shri Narendra Modi’s vision of a “Viksit North East,” the Government of India through the Ministry of Commerce and Industry, Ministry of Agriculture and Farmer’s Welfare, Ministry of Development of the North Eastern Region, Government of Arunachal Pradesh and APEDA are working in close coordination.
Background:
The Agricultural and Processed Food Products Export Development Authority (APEDA) is a statutory body under the Ministry of Commerce & Industry, Government of India. APEDA works to develop, facilitate and promote the export of agricultural and processed food products products, providing invaluable support to Farmer Producer Organisations (FPOs), Farmer Producer Companies and Indian exporters in navigating international markets.
In a significant late-night operation on April 11, 2025, the Directorate of Revenue Intelligence (DRI) intercepted a 12-wheeler truck and seized 52.67 kg methamphetamine tablets, valued at Rs. 52.67 crore in the international drug market, on the outskirts of Aizawl, Mizoram.
The operation uncovered a novel method of concealing and transporting smuggled drugs — 53 meticulously packed, brick-sized packets were found hidden within the folds of the truck’s tarpaulin cover.
The packets bore inscriptions such as “3030 Export Only” and “999”, alongside diamond symbols, and contained orange-pink tablets. Tests conducted using the NDPS Field Test Kit confirmed the tablets contained methamphetamine.
The truck, registered in Nagaland, had originated from Zokhawthar—a sensitive border town near the Indo-Myanmar frontier—and was enroute to Tripura. DRI intercepted the vehicle before it left Mizoram. Notably, the truck carried no declared goods at the time. Earlier, it had transported cement from Meghalaya to Champhai before continuing to Zokhawthar, where the contraband was loaded.
The truck’s driver and his assistant were arrested under the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985. Preliminary investigations indicate that the drugs had been smuggled into Mizoram from Myanmar via the Zokhawthar sector.
The DRI has The DRI has seized 148.50 kg methamphetamine tablets in the North Eastern Region since January 2025 till today, demonstrating its unwavering commitment to combating drug smuggling.
Source: Hong Kong Government special administrative region
The Innovation, Technology and Industry Bureau (ITIB) and the Hong Kong Trade Development Council (HKTDC) co-organised the third edition of the InnoEX at the Hong Kong Convention and Exhibition Centre (HKCEC) for four consecutive days starting today (April 13). The Digital Policy Office (DPO) set up a large-scale Smart Hong Kong Pavilion to showcase over 100 technology solutions, including those developed by different government departments in relation to citizens’ daily lives. Through interactive experiences and on-site demonstrations, the Pavilion demonstrates the solid achievements in advancing the development of innovation and technology (I&T) and smart city in Hong Kong brought about by the concerted efforts of the Hong Kong Special Administrative Region Government and various sectors.
On the opening day of the Pavilion, a number of officials, including the Financial Secretary, Mr Paul Chan, and the Secretary for Innovation, Technology and Industry, Professor Sun Dong, visited the Pavilion. They were briefed by the Commissioner for Digital Policy, Mr Tony Wong, on how the DPO leads various government departments in leveraging I&T to enhance city management and operational efficiency, delivering enhanced public services to citizens. The DPO has all along worked in close collaboration with the local I&T industry to develop a variety of innovative solutions, with a view to continuously enhancing public services for the benefit of the public and businesses, jointly strengthening Hong Kong’s leading position as an international I&T hub.
This year’s Smart Hong Kong Pavilion focuses on AI and data-driven applications, and showcases I&T solutions contributed by 20 government departments and the winning entries of international and domestic I&T competitions, including the Hong Kong ICT Awards, Asia Pacific Information and Communications Technology Alliance Awards, Maker in China SME Innovation and Entrepreneurship Global Contest – Hong Kong Chapter and Open Data Hackathon, from local innovators and students. Through the exhibition, the DPO hopes to recognise outstanding local innovations, encourage and inspire industry players to develop more innovative solutions as well as promote Hong Kong’s I&T development to local industries, exhibitors and experts from home and abroad.
Following are highlights of the six areas of the Smart Hong Kong Pavilion:
Smart Living: “iAM Smart”, the one-stop personalised digital services platform that provides citizens with access to over 1 100 government, public and private online services and government e-Forms; the Hong Kong Observatory’s AI-powered weather prediction models that provide reference in preparing weather forecasts and tropical cyclone forecast tracks; and the industry’s award-winning solution, a smart packaging system from the Hong Kong Productivity Council that significantly increases packaging output of Chinese medicine and reduces manpower requirements.
Smart Mobility: Award of the Year in the Hong Kong ICT Awards 2024, a solution from the MTR Corporation Limited and the Hong Kong University of Science and Technology that adopts a digital twin calibrated with big data for railway planning and simulating service disruptions and congestion, thereby assisting the MTR to plan corresponding arrangements early to meet the travel needs of citizens.
Smart Environment: The Agriculture, Fisheries and Conservation Department’s Shark Species Rapid DNA Identification technology that uses AI to rapidly identify the species of shark fins and more efficiently determine whether the imported shark fins are regulated; and the Electrical and Mechanical Services Department’s AI-powered Aqua-bot that is used in early detection and rapid response to invasive alien species to protect ecosystems in wetlands.
Smart People: The Architectural Services Department’s Wall-Climbing Robot that can move flexibly on building facades and conduct building facade assessments efficiently and accurately; the Drainage Services Department’s Tumbler Inspection Ball Robot with Embodied Intelligence, honoured with a Gold Medal in the International Exhibition of Inventions Geneva 2024, that can monitor condition of pipelines through clear 360-degree panoramic videos and AI technology; as well as the Highways Department’s adoption of geospatial and AI technologies to automatically detect various road objects and create survey maps, enhancing efficiency of road construction projects.
Smart Government: The Hong Kong Fire Services Department’s Virtual Fire Scene Incident Command Training System that allows firefighters to practice command and decision-making skills in an immersive experience; the Hong Kong Police Force’s The New Generation Scenario-based Interactive Multiplayer Simulation System that adopts multimedia broadcasting and simulated communication systems to train officers to respond to various simulated incidents; and the Hong Kong Immigration Department’s Mutual Use of QR Code between HKSAR and Macao SAR Clearance Service that fosters ease in cross-boundary mobility.
Smart Economy: The Lands Department’s leverage of spatial data and Geographic Information System to enhance the safety, efficiency and planning of drone operations, supporting low-altitude economy development; and the award-winning solution, Hong Kong Housing Authority Project Information Management and Analytics Platform, that implements digital project management from planning to handover stages, thereby expediting decision-making process.
The annual I&T mega event of Hong Kong, InnoEX, brings together I&T elites, enterprises and buyers from the Mainland and overseas to jointly promote I&T advancements and applications and explore global collaboration opportunities. Themed “Innovation • Automate • Elevate”, this year’s InnoEX will showcase cutting-edge technology solutions across five key areas: low-altitude economy, AI, robotics, cybersecurity and smart mobility. Interested parties from the trade can register free of charge at the HKTDC’s website (www.hktdc.com/event/innoex/en).
Meanwhile, another major I&T highlight this April – the World Internet Conference Asia-Pacific Summit – a high-level conference in the global Internet field, will take place on April 14 and 15 at the HKCEC concurrently. Under the theme “Integration of AI and Digital Technologies Shaping the Future – Jointly Building a Community with a Shared Future in Cyberspace”, the Summit will focus on forward-looking discussions in large AI models, digital finance, and digital government and smart life, attracting around 1 000 participants from the Mainland and overseas, including representatives from governments and enterprises, international organisations, internet giants, experts and scholars to attend.
A Dose of Atmanirbhar Bharat How Make in India is transforming India’s Global Pharmaceutical Footprint
Posted On: 13 APR 2025 2:56PM by PIB Delhi
Introduction
The Department of Pharmaceuticals, under the Ministry of Chemicals and Fertilizers, is responsible for matters related to the pricing and availability of affordable medicines, research and developmentand international obligations. With a vision to make India the world’s largest provider of quality medicines at reasonable prices, the department’s efforts align with the Make in India initiative. The Indian pharmaceutical industry continues to play a crucial role in manufacturing high-quality, cost-effective medicines for both domestic and global markets, marked by its dominance in branded generic medicines, competitive pricing, and a robust network of indigenous brands.[1]
India has been UNICEF’s largest vaccine supplier for the past six to seven years, contributing 55% to 60% of total volume procured contributing 99%, 52% and 45% of the WHO demand for DPT, BCG and the measles vaccines, respectively.[2]
The medical devices sector in India is an essential and integral constituent of the Indian healthcare sector, particularly for prevention, diagnosis, treatment and management of all medical conditions and disabilities. The medical devices sector is a multi-disciplinary sector. Its constituent device categories are-
electro-medical equipment
implants
consumables and disposables
surgical instruments
in vitro diagnostic reagents
Several segments of the medical device industry are highly capital-intensive, with a long gestation period, and require continuous induction of new technologies and the ongoing training of healthcare professionals to adapt to new technologies in the sector.
The Department of Pharmaceuticals considers FDI proposals falling under the Government approval route in pharmaceutical and meditech activities for approval or rejection as per FDI Policy.
In the financial year of 2024-25, from April 2024 to December 2024, FDI inflows (in both pharmaceuticals and medical devices) has been ₹11,888 Crore.
Further, the Department of Pharmaceuticals has approved 13 FDI proposals worth ₹7,246.40 Crore for brownfield projects during FY 2024-25.
The Production Linked Incentive (PLI) Scheme, launched in 2020 by the Government of India, is a transformative initiative aimed at boosting domestic manufacturing, attracting investments, reducing reliance on imports and increasing exports. Aligned with the vision of Atmanirbhar Bharat and the larger Make in India initiative, the scheme offers financial incentives based on production performance, encouraging companies to scale up operations, adopt advanced technologies, and improve global competitiveness.
For pharmaceuticals, the initiative aims to reduce import dependence on Key Starting Materials (KSMs), Drug Intermediates (DIs), and Active Pharmaceutical Ingredients (APIs), strengthening India’s manufacturing base. By promoting production and innovation, it boosts domestic capabilities and global competitiveness.
Overview of the PLI Schemes
The Department of Pharmaceuticals administers three PLI schemes as part of the Government of India’s larger initiative to enhance manufacturing capabilities. These include:
PLI Scheme for Pharmaceuticals
PLI Scheme for promotion of domestic manufacturing of critical KSMs/DIs/APIs
PLI Scheme for promoting domestic manufacturing of Medical Devices[7]
The PLI Scheme for Pharmaceuticals was approved by the Union Cabinet on 24 February 2021[9], with a financial outlay of ₹15,000 croreand the production tenure from FY 2022- 2023 to FY 2027-28, provides financial incentive to 55 selected applicants for manufacturing of identified products under three categories for a period of six years. Under this scheme, high value pharmaceutical products such as patented/off-patented drugs, biopharmaceuticals, complex generics, anti-cancer drugs, autoimmune drugs, among others, are manufactured.[10]
Key Features of the Scheme:
The scheme supports the manufacturing of pharmaceutical goods under three categories:
Category 1: Biopharmaceuticals, complex generic drugs, patented drugs or those nearing patent expiry, gene therapy drugs, orphan drugs, and complex excipients.
Category 2: Active Pharmaceutical Ingredients (APIs), Key Starting Materials (KSMs), and Drug Intermediates (DIs).
The PLI Scheme for KSMs, DIs, and APIs was launched on 20 March 2020, with a financial outlay of ₹6,940 crore for the period FY 2020-21 to FY 2029-30. The main objective of Production Linked Incentive (PLI) scheme for promotion of domestic manufacturing of critical Key Starting Materials (KSMs)/ Drug Intermediates and Active Pharmaceutical Ingredients (APIs) in India is to promote domestic manufacturing of 41 identified bulk drugs to address their high import dependence.
Achievements under the PLI Scheme for KSMs, DIs, and APIs
One of the significant achievements under the PLI scheme has been the surpassing of targeted investments. While the initial commitment was ₹3,938.57 crore, the actual realized investment has already reached ₹4,253.92 crore (as of December 2024).
Under the PLI scheme for Bulk Drugs, a total of 48 projects have been selected under the scheme, of which 34 projects have been commissioned for 25 bulk drugs as of December 2024.
Notable Projects Under the PLI Scheme for Bulk Drugs
Penicillin G Project (Kakinada, Andhra Pradesh): ₹1,910 crore investment; expected import substitution of ₹2,700 crore per annum.
Clavulanic Acid Project (Nalagarh, Himachal Pradesh): ₹450 crore investment; expected import substitution of ₹600 crore per annum.[13]
The PLI Scheme for Medical Devices was launched to support domestic manufacturing of high-end medical equipment and reduce reliance on imports. The scheme provides financial incentives to manufacturers in key segments such as radiology, imaging, cancer care, and implants.The period of the scheme is from financial year 2020-21 to financial year 2027-28 with total financial outlay of Rs. 3,420 crore. Under the scheme, financial incentive is given to selected companies, at the rate of 5% of incremental sales of medical devices manufactured in India and covered under the target segments of the scheme, for a period of five years.
Category of applicant
Incentive Period
Incentive rate
Category A
FY 2022-23 to FY 2026-27
5% limited to Rs.121 crore per applicant
Category B
FY 2022-23 to FY 2026-27
5% limited to Rs.40 crore per applicant
The details of incentive under the scheme are as follows:
Approved in March 2020, the Promotion of Bulk Drug Parks scheme (FY 2020–21 to FY 2025–26) aims to establish parks with world-class common infrastructure to reduce manufacturing costs and enhance self-reliance in bulk drugs. Proposals from Gujarat, Himachal Pradesh, and Andhra Pradesh were approved under the scheme. Financial assistance is capped at ₹1,000 crore per park or 70% of the project cost (90% for Northeastern and Hilly States), with a total outlay of ₹3,000 crore.[16]
Pradhan Mantri Bhartiya JanaushadhiPariyojana
With an objective of making quality generic medicines available at affordable prices to all, Pradhan Mantri Bhartiya JanaushadhiPariyojana (PMBJP) aims to ensure access to affordable, quality generic medicines across India.
Some of the activities under this initiative include:
Raising Awareness: Educating the public on the benefits of generic medicines, highlighting that affordability doesn’t compromise quality and countering the belief that higher prices mean better efficacy.
Encouraging Prescriptions of Generic Drugs: Promoting the use of generics by motivating healthcare professionals, especially in government hospitals, to prescribe cost-effective alternatives.
Enhancing Accessibility: Ensuring the availability of essential generic medicines across therapeutic categories, with a focus on reaching underserved communities.[17]
As of April 8, 2025, there are a total of 15,479 Jan AushadiKendras across the country.
Strengthening of Pharmaceuticals Industry Scheme (SPI Scheme)
The SPI scheme is a Central Sector Scheme (CSS) with an outlay of Rs.500 Cr with thescheme period from FY 2021-22 to FY 2025-26. [18]
Conclusion:
India’s pharmaceutical and medical devices sectors stand as a testament to the country’s growing capabilities in science, innovation, and manufacturing. Through visionary initiatives like the Production Linked Incentive (PLI) schemes and Pradhan Mantri Bhartiya JanaushadhiPariyojana (PMBJP), the Department of Pharmaceuticals has not only bolstered domestic production but also ensured equitable access to affordable healthcare solutions. With its continued commitment to self-reliance under the Make in India vision, India is poised to solidify its position as a global hub for high-quality, cost-effective medicines and medical technologies, empowering both its citizens and contributing significantly to global health outcomes.
Source: Hong Kong Government special administrative region
Following are the opening remarks by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at the Welcome Dinner of InnoEX 2025 today (April 12):
Margaret (the Executive Director of the Hong Kong Trade Development Council (HKTDC), Ms Margaret Fong), å¾�常委 (Member of the 14th National Committee of the Chinese People’s Political Consultative Conference (CPPCC), Ms Xu Xiaolan), 任秘書長 (the Secretary General of the World Internet Conference (WIC), Mr Ren Xianliang), distinguished guests, ladies and gentlemen,
Hello! ä½ å¥½! What a thrill to have you all here this evening! A very warm welcome to friends from around the world to the InnoEX 2025 in Hong Kong.
This welcome dinner is a prelude to the InnoEX 2025, Hong Kong’s signature exhibition on innovation & technology (I&T) to start tomorrow. Also an anchor event of our vibrant Business of Innovation and Technology Week (BIT Week), InnoEX 2025 can be “digitised” into the magic figure of “12345” –
1 vision to connect global I&T power;
2 much to anticipate;
3 years in a row;
4 incredible days of a full programme from April 13 to 16; and
5 frontier tech areas we are going to focus on.
InnoEX returns stronger and bigger this year, from countries and regions – from Hong Kong, Macao, and 16 Mainland provinces and cities, to France, Canada, India, the United Kingdom, Japan, Korea, and across ASEAN (the Association of Southeast Asian Nations). Joining us first-time also include those from Australia, the UAE (United Arab Emirates), Malaysia, Sweden, and Luxembourg.
To the familiar faces and all new friends, thank you so much for bringing your tech, your creativity and your interest to our city!
This year’s theme of InnoEX – “Innovate • Automate • Elevate” says it all: only with innovation powering the engine, automation steering the course, our journey towards a more prosperous economies and societies could be elevated to the next higher level.
The five tech areas we focus this year, namely artificial intelligence, robotics, cybersecurity, low-altitude economy, and smart mobility, are the components of this autonomous vehicle, leading us to a better and smarter future.
Indeed, these aren’t just tech and small parts of an engine. They fundamentally change the way we work, connect, interact and grow. They change how we see the future.
And right here at InnoEX, you’ll see how these agents are applied in different places around the globe, and how ideas translate into impact on industries and people.
As the brand InnoEX implies, Hong Kong is also witnessing the exponential power of innovation. We may be like a GPU (graphics processing unit) in terms of physical size, but Hong Kong is huge in terms of innovative power – top-notch R&D (research and development), five world-class universities, 16 State Key Laboratories, and a staunch supporter of free economy and international partnerships. This is how we fuel novel ideas, groom talents, attract investment, and build an increasing robust I&T ecosystem.
And we believe innovation thrives when people come together – across sectors and borders, and blending cultures and values. That’s what the BIT Week and InnoEX are all about: a global stage with no boundaries and limits. This spirit of connection is echoed at the World Internet Conference Asia-Pacific Summit happening soon at this convention centre.
So this evening, we are here to start conversations; to cultivate friendships; and to scale possibilities. Whether you are a policymaker, buyer, exhibitor or tech leader – there is always a space here in InnoEX for you to spark something big.
Before I close, my heartfelt thanks to our incredible partner, HKTDC, and my fellow colleagues at the Innovation, Technology and Industry Bureau and the Digital Policy Office for their hard work. You have made this possible.
To our guests: please enjoy the evening, get ready for four exciting days ahead, and make the best out of InnoEX! Thank you.
Source: Hong Kong Government special administrative region
Opening remarks by SITI at Tech-Driven Industry and Economy Conference of InnoEX (English only) Ladies and gentlemen,
Good morning. It is my honour to welcome you to the Tech-Driven Industry and Economy Conference, the very first international exchange session at the 2025 InnoEX which opens officially just now.
I would like to first thank our close partners, the Hong Kong Trade Development Council and the Office for Attracting Strategic Enterprises, for organising this event, with Mr Duncan Chiu, our legislative councillor representing the technology and innovation (I&T) sector of Hong Kong, as the moderator. My warm greetings also go to the esteemed speakers from different continents who join us today in Hong Kong and make this conference happen.
Today, we gather under the theme “Empowering Industry for a Connected Global Economy” a reminder of the transformative power of technology in shaping our future.
As we navigate an increasingly complex world, with the looming revival of unilateralism and protectionism, it is essential that we continue to harness innovation and embrace collaborative spirit to sustain the competitive edges of the tech-driven economies, while pushing the technological boundaries for the well-being of people.
The conference today serves as a timely platform for government officials, industry leaders and experts to engage in meaningful and constructive dialogue about the challenges and opportunities that lie ahead simultaneously.
Hong Kong, the host city of the conference is an international hub of I&T centre. With the unwavering support of our motherland and unique advantages under the “one country, two systems” principle, Hong Kong is leveraging our strategic location, world-class infrastructure, and diverse talent pool, driven by our five world’s top 100 universities, to drive progress. With internationally acclaimed research capabilities, a vibrant start-up ecosystem, and the dynamic flow of ideas, capital and entrepreneurship, Hong Kong is the ideal destination for innovators, investors and decision-makers like you.
In a short while, you will hear from distinguished speakers their unique insights and international perspectives. Together, we explore the emerging trends that drive I&T, shape economic landscape, and create more possibilities of the future.
The enlightening conference will certainly be amongst the many rewards awaiting you in InnoEX. So, please enjoy and I sincerely invite you to join us again next year. Thank you. Issued at HKT 11:56
Source: Hong Kong Government special administrative region
Following is the speech by the Financial Secretary, Mr Paul Chan, at the Opening Ceremony of BIT Week 2025 today (April 13):
(member of the Standing Committee of the 14th National Committee of the Chinese People’s Political Consultative Conference) (Vice Governor of Jiangsu Provincial People’s Government) (Director-General of the Department of Educational, Scientific and Technological Affairs of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region), Peter (Chairman of the Hong Kong Trade Development Council (HKTDC), Dr Peter Lam), Margaret (Executive Director of the HKTDC, Ms Margaret Fong), distinguished guests, ladies and gentlemen,
It is my pleasure to welcome you all to Hong Kong’s Business of Innovation and Technology (BIT) Week. As Margaret eloquently highlighted, this week features a dynamic series of exhibitions, dialogues, summits and festivals – each designed to spark collaboration, inspire innovation and seek to map the future of the digital economy.
To our international guests: a very warm welcome to Hong Kong, Asia’s World City.
Allow me to take a moment to highlight why Hong Kong is the ideal strategic destination for innovation and technology businesses.
In addition to our world-class infrastructure and business-friendly environment mentioned by Margaret, Hong Kong’s “one country, two systems” arrangement has set us apart from any other city in Asia. To name just a few of our unique strengths, we have –
first, convenient access to the vast Chinese Mainland and Asian markets;
second, a trusted common law system and strong intellectual property protection;
third, the convergence of Mainland and international data and capital; and
fourth, a thriving international talent pool that attracts and nurtures the top minds from around the world.
These strengths have made Hong Kong a premier launchpad for companies looking to scale up their business in Asia and beyond.
Today, we are home to over 4 700 startups, and 28 per cent of their founders come from outside the city. For a glimpse of this dynamism, I encourage you to visit InnoEX, which showcase the ingenuity of our startups and talent, with groundbreaking innovations ranging from AI and robotics to green tech, smart mobility, and much more.
Hong Kong’s appeal extends beyond these. We offer a comprehensive funding ecosystem, spanning angel investments, venture capital, private equity to one of the world’s deepest and most liquid stock markets. Besides, together with Greater Bay Area cities like Shenzhen and Guangzhou, we offer you a vibrant ecosystem that caters to the needs of innovative companies from different sectors and different stages of development. In fact, we have been ranked the world’s second most innovative cluster for five consecutive years.
Ladies and gentlemen, we gather at a pivotal moment. We are witnessing a shifting global landscape marked by a daunting trade war and technological fragmentation. Trade patterns, industrial chain, supply chain and partnerships are being reshaped. In this “new normal”, many businesses will have to find new collaborators, explore untapped markets and embrace more agile business models.
In these turbulent times, Hong Kong remains open and welcoming to businesses and talent from all over the world. We are eager to establish new connections and forge new partnerships. These are in our DNA. Rest assured that our free port status and free trade policy remain unshaken. We are firm in our commitment to the free flow of capital, goods, talent and information.
Let me conclude by extending my gratitude to my government colleagues, the HKTDC, and all the exhibitors and partners who have brought the BIT Week to life. To our visitors: beyond networking and conducting business, please take some time to explore this vibrant city, not just our scenic hills, stunning coastlines and beautiful outlying islands, but also the 200+ Michelin-recommended restaurants. We impose no duty on wine. Coldplay was performing in our world-class Kai Tak Stadium. The Palace Museum and M+ museum are just across the harbour.
I am sure you will enjoy the city, and wish you all the best of business and health for the time ahead. Thank you very much.