NewzIntel.com

Category: Trade

  • MIL-OSI Global: Madagascar’s lemurs live with the threat of cyclones – has this shaped their behaviour?

    Source: The Conversation – Africa – By Alison Behie, Professor of Biological Anthropology, Australian National University

    Madagascar is an island that’s no stranger to natural disasters, in particular cyclones. This is because it’s located in the south-west Indian Ocean cyclone basin, a region of the Indian Ocean where tropical cyclones typically form and develop.

    Madagascar has experienced 69 cyclones between 1912 and 2022, although cyclones have been a pressure on the island for much longer – estimates range from hundreds to more than thousands of years. This regular exposure has resulted in a uniquely harsh and unpredictable environment.

    Madagascar is also the only place in the entire world where lemurs, a group of primates, are naturally found. It’s home to over 100 species of lemurs.

    Due to ongoing threats of disaster impacts, hunting and deforestation, lemurs are the most endangered group of mammals in the world. According to the International Union for Conservation of Nature (IUCN), 98% of lemur species are threatened with extinction, 31% of which are critically endangered.

    It is therefore important to understand future threats to lemurs so as to protect them.

    Lemurs are unusual among primates. They show a higher degree of traits associated with resilience to living in a disaster-prone environment. For example, very few species rely on a diet of fruit, which is one of the first food items to disappear after a cyclone. Over half of lemur species rely on leaves as their main food item.

    They also exhibit a high degree of energy conserving behaviours, including hibernation and torpor – a shorter period of inactivity characterised by a lower body temperature and metabolic rate.

    It has long been believed that these behaviours are a result of Madagascar’s frequent cyclones. Living in an unpredictable environment over multiple generations could lead to different features being beneficial for survival. Some evolutionary adaptations may happen within a few decades, others could form over thousands of years.

    However, there is variation among species in these traits and, to date, no one has tested whether the unique behavioural features of lemurs actually occur more frequently in species that have experienced more cyclones, or if there may be a different explanation. Our research wanted to clear this up.

    In our study, my colleagues and I found no association between cyclone impact and how resilient lemurs are. We did however find a positive association between cyclone impact and body size. This suggests that the more a lemur species is affected by cyclones, the smaller they are.

    Given the increase globally in disasters, this type of work allows us to better understand the most and least resilient species to prepare for conservation efforts into the future.

    How resilient are lemurs?

    My research focuses on how animals, particularly primates, respond to the threat of climate change and disaster exposure. Previous work my colleagues and I did with howler monkeys showed that historical hurricane exposure was significantly linked to the evolution of behavioural adaptations, like small group size and energy conserving behaviours.

    We set out to design a specific study for lemurs. We wanted to determine whether the variation in behavioural traits in lemurs could be accounted for by the variation in cyclone exposure across the island.

    To carry out this research, we first made a map showing how cyclones affect different parts of Madagascar. We used weather patterns, past cyclone paths, how strong the cyclones were, and how much rain they brought. Data used for this came from the past 58 years, which is the data that was available, although Madagascar has been hit by cyclones over a much longer time period.

    We then placed a map of where lemurs live on top of our cyclone map to see how much cyclones affect each lemur species’ home. Our study covered the 26 species for which enough data was published to be able to determine their overall behavioural traits.

    For each of these species, we created a “resilience score”. To create this score, each species got one point for each behavioural trait they exhibited that is associated with living in a cyclone-prone area. For example, a species that shows hibernation got one point and a species that does not got 0 points. The resilience traits we used included: energy conserving behaviours; habitat use; group size; fruit in the diet; home range size; geographic range; and body size.

    We then added up the score across all resilience traits and compared the resilience score of each species with their habitat range cyclone score. This helped us see if species in high-impact areas had higher resilience. If so, it would strongly suggest that resilience traits evolved as an adaptation to frequent cyclones.

    Our results found no relationship between cyclone impact and overall resilience score. This may be because the historical cyclone data we had access to covered only the past 58 years. This may not be an accurate proxy for longer term cyclone activity associated with evolutionary adaptations.

    It could also be that the traits linked to cyclone resilience may have already existed in the last common ancestor of lemurs due to rapid environmental change on the African continent. Recent research suggests this ancestor rafted to Madagascar from Africa on floating vegetation. These traits could have helped it survive the journey. They’re also seen in other wildlife believed to have rafted to their island habitats and that may have been crucial for island colonisation.

    While overall resilience scores were not associated with cyclone impact, we did find that lemur species with smaller bodies experienced greater cyclone impacts. The north-east of the island was found to experience higher cyclone activity compared to the south-west. This aligns with previous research suggesting that larger primates, which require more food and space and reproduce more slowly, are less resilient and more likely to die after habitat disturbance.

    Importance for conservation

    Ours was the first study to try to find a quantitative link between cyclone exposure and the evolution of behavioural adaptations in lemurs and only the second to do so in primates.

    While results did not show a link to overall resilience, they did provide a template for future studies to explore the concept on other primates at a global scale. The study also provides a cyclone impact grid that could be used to assess impacts on other wildlife in Madagascar.

    In addition, our work has highlighted the importance of body size as a factor associated with less resilience to disaster.



    Read more:
    Mozambique’s cyclone flooding was devastating to animals – we studied how body size affected survival

    This research helps us to understand more about how species responded to cyclones in the past, which improves our understanding of the sorts of behavioural flexibility needed to survive severe environmental change. This then improves our ability to predict the effects of future events and mitigate impacts through more effective and targeted conservation. This is particularly true in island ecosystems, such as Madagascar, where endemic species are confined.



    Read more:
    Madagascar supports more unique plant life than any other island in the world – new study

    Alison Behie receives funding from The Australian Research Council.

    – ref. Madagascar’s lemurs live with the threat of cyclones – has this shaped their behaviour? – https://theconversation.com/madagascars-lemurs-live-with-the-threat-of-cyclones-has-this-shaped-their-behaviour-249172

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: British Hallmarking Council appoints three new members

    Source: United Kingdom – Executive Government & Departments

    News story

    British Hallmarking Council appoints three new members

    The new members will be part of the British Hallmarking Council from January 2025 for a period of three years.

    The Secretary of State for Business and Trade has appointed three new members to the British Hallmarking Council from January 2025 for a period of three years.

    They will work with the Chair Noel Hunter, OBE and existing members of Council to ensure the organisation achieves its strategic objectives. 

    New members appointed are:

    • Kerry Gregory
    • Sally Leonard
    • Frederick Toye

    British Hallmarking Council Chair Noel Hunter said:

    I am delighted to welcome our three new members to Council. Their expertise in the precious metal, gemmology and jewellery trades will be invaluable as the Council continues its work to protect consumers, ensure the integrity and adequacy of hallmarking, and support growth in the sector.

    I would also like to express my thanks to our outgoing Secretary of State appointed Council members Joanna Hardy, Patrick Fuller, and Rachel Holloway for their invaluable contributions over the years.

    Kerry Gregory

    Kerry Gregory has been in the UK jewellery and pawnbroking industry for over 25 years. She started her business ‘Gemmology Rocks’ after a varied career of retail jewellery, valuing, pawnbroking and gemmology.

    Kerry holds qualifications in diamonds and gemstones from Gem-A, GIA, AIGS, and FEEG. As well as a certificate in Valuation Practice from NAJ. Kerry also holds a level 6 diploma in Education and Training specialising in teaching adults.

    Kerry is very active in both the UK and US industry, and has delivered presentations, and written articles, to critical acclaim, to many organisations and associations. A past long term tutor and head of ATC for Gem-A, she served on the board of Gem-A, and ran one of the UK Branches. Kerry is currently on the Board of Trustees for the Silversmiths and Jewellers Charity (UK), and a key contributor to the National Association of Jewellers Professional Trade Standards Committee.

    Sally Leonard

    Sally Leonard is a jeweller and consultant with over two decades of experience supporting the jewellery industry. Through her consultancy, she has guided hundreds of businesses, offering practical advice on strategy, market positioning, and sustainability.

    As the founder of Leonard of London, Sally combines her passion for design with a steadfast commitment to ethical sourcing and craftsmanship. Her work is rooted in inclusion and collaboration, helping to ensure that the jewellery sector remains both innovative and vibrant.

    She is honoured to be a Freeman of the Goldsmiths’ Company and the City of London.

    Frederick Toye

    Frederick Toye is chairman and a director of the celebrated British manufacturing firm Toye, Kenning & Spencer. Through the company, Frederick has collaborated with a wide variety of contemporary and well-known designers and brands creating precious metal jewellery, accessories and other items.

    The company uses several techniques at its diverse range of in-house workshops in the UK, including but not limited to stamping, polishing, plating, gold and silversmithing, engraving, toolmaking, enameling, woodwork, weaving, machine and hand-embroidery, gold and silver wire drawing and millinery.

    In addition, Frederick is one of the leading figures in the creation of state insignia, medals and regalia in the UK and holds a Royal Warrant from HM King Charles III for ‘the supply of gold and silver laces, insignia and embroidery’.

    Frederick is also a Liveryman of the Worshipful Company of Goldsmiths.

    Updates to this page

    Published 5 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Changes to sick pay will help people stay in work and grow economy

    Source: United Kingdom – Government Statements

    Press release

    Changes to sick pay will help people stay in work and grow economy

    More than one million working people across the UK will see a rise in living standards thanks to improvements to Statutory Sick Pay, ministers have announced today.

    • Landmark changes are all part of the government’s number one priority in the Plan for Change to grow the economy and put more money into working people’s pockets 
    • Announcement comes as the World Bank notes that ‘without improvements in productivity, there is no economic growth’ 
    • The government has pledged to deliver on its promise to Make Work Pay with lower income workers no longer having to choose between their health or their jobs

    This comes as the government delivers on the plan to boost workers’ rights and create a healthier, more productive workforce, which will be at the forefront of efforts to grow the economy – the priority of our Plan for Change. 

    The changes will mean up to 1.3 million people on low wages who find themselves ill will either receive 80% of their average weekly earnings or the rate of Statutory Sick Pay which will be £118.75 per week from April – whichever is lowest.  

    The move means some of the lowest earners will be up to £100 better off per week, compared to the current system. This safety net will enable people to have the time off they need to recover, so they can get better and remain in work rather than risk quitting altogether.

    Under the government’s Plan for Change, this new fairer rate strikes the right balance between providing financial security for employees who fall ill, and the cost to businesses – all while retaining the incentives for people to return to work. 

    The UK has seen a slow-down in productivity in recent years that has been more severe than other nations, which is not acceptable. The World Bank has been clear that “without improvements in productivity, there is no economic growth”.

    Today’s changes will boost productivity in the workforce to help drive growth and usher in a decade of national renewal. 

    The Deputy Prime Minister, Angela Rayner MP said: 

    What we put into our workforce, we get back and more.

    That’s why we’re making Statutory Sick Pay a right for every worker for the first time so people can stay in work rather than risk dropping out.

    This is a pro-worker, pro-business government in action – boosting productivity, while ensuring people don’t have to choose between health and wealth, helping deliver our Plan for Change.

    Secretary of State for Work and Pensions, Liz Kendall MP said: 

    For too long, sick workers have had to decide between staying at home and losing a day’s pay or soldiering on at their own risk just to make ends meet. 

    No one should ever have to choose between their health and earning a living, which is why we are making this landmark change. 

    The new rate is good for workers and fair on businesses as part our plan to boost rights and Make Work Pay, while delivering our Plan for Change.

    The government’s response to its Statutory Sick Pay consultation has also been published today alongside other responses and amendments to the Employment Rights Bill, including on tackling fire and rehire and zero-hour contracts to tackle insecure work.  

    This latest move follows the commitment to ensure the right to sick pay from the first day of illness, and to make more people eligible by removing the need to earn Lower Earnings Limit. 

    Over 1,700 responses to a six-week consultation helped inform the decision on the new rate, taking in to account the views of businesses, charities, trade unions and workers.  

    TUC General Secretary, Paul Nowak, added:

    Nobody should be plunged into hardship when they become ill. 

    These reforms will stop millions from facing a financial cliff edge if they get sick.

    Making statutory sick pay available to all workers – and from day one – shows why the government’s Employment Rights Bill is so important.

    With sick pay rights from the first day of sickness, you will know that your family is protected. And you can take the time you need to recover.

    We hope this is the start of a programme of sick pay reform and will continue to make the case for higher future sick pay rates.

    Further information:

    • The Lower Earnings Limit (currently £123 per week) is the amount of earnings that allow an employee to qualify for Statutory Sick Pay.
    • The DWP published a consultation in October 2024 seeking views on what the new percentage rate that will be paid up to the flat rate of Statutory Sick Pay should be. The consultation ran until December 2024 and received 1,797 responses: Making Work Pay: Strengthening Statutory Sick Pay – GOV.UK  
    • The Government’s response to this consultation and the new percentage rate of Statutory Sick Pay was published this week: Government response: Making Work Pay: Strengthening Statutory Sick Pay – GOV.UK
    • While Statutory Sick Pay is devolved to Northern Ireland, a Legislative Consent Motion will be sought from the Northern Ireland Assembly to mirror these changes.  
    • The Government has also published consultation responses covering collective redundancy (fire and rehire), the creation of a modern framework for industrial relations, the application of zero-hour contracts and tackling non-compliance in the umbrella company market: Government Response to the consultation on strengthening remedies against abuse of rules on collective redundancy and fire and rehire
    • The Employment Rights Bill was introduced in the House of Commons in October 2024. It is currently awaiting Report Stage.   
    • The World Bank notes that ‘without improvements in productivity, there is no economic growth.’ 
    • The UK has seen a productivity slowdown that is more pronounced than other advanced economies over the past few years: an increasingly insecure and fragmented labour market can undermine conditions for growth and investment.

    Updates to this page

    Published 5 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Wearable Devices Unlocks New Market Opportunities Following an Announcement of the Development of AI-Powered Gesture Personalization Technology

    Source: GlobeNewswire (MIL-OSI)

    – Advancing AI-driven interactions for extended reality (“XR”) and wearable technology markets –

    Yokneam Illit, Israel, March 05, 2025 (GLOBE NEWSWIRE) — Wearable Devices Ltd. (the “Company” or “Wearable Devices”) (Nasdaq: WLDS, WLDSW), an award-winning pioneer in artificial intelligence (“AI”)-based wearable gesture control technology, is proud to announce its next-generation gesture personalization technology that is expected to reshape human-device interactions. This breakthrough technology aims to open new commercial and licensing opportunities in the fast-growing XR, smartwatch, and AI-driven device markets.

    The Future of Personalized AI-Driven Gestures

    As AI continues to shape our digital landscape, the way we interact with technology is evolving. Traditional input methods – keyboards, touchscreens, and voice commands – are expected to give way to more natural, seamless interactions. Wearable Devices is developing an AI-powered neural wristband technology for detection of user specific micro-gestures, enabling a future of personalized controls tailored to individual users.

    While gestures such as Pinch, Pinch and Drag, and Drag are now in common use with multiple XR devices using gesture detection cameras, the use of a neural interface requires overcoming the various patterns a user may exhibit. Certain users may display neural patterns which are over the normal distribution patterns. Further, the development of new unique gestures which are personalized to a specific user may be hindered by the above obstacles.

    Through leveraging Large Motor Unit Action Potential (MUAP) Models, Wearable Devices is enhancing its ability to create a higher gesture classification experience to all users. Micro gestures, in-which the fingers only perform a minute movement, and user-defined gestures can be added to a control scheme on a device, thus enhancing the comfort of control and the ease of use on multiple devices.

    A New Era for AI-Powered Devices and XR Platforms

    Wearable Devices’ neural-based gesture personalization is being developed to revolutionize XR, smartwatches, and other AI-driven interfaces. The technology aims to enable:

    • Micro-Gesture Precision: AI refining recognition of tiny movements, such as small and fine finger swipes or pinches, ensuring reliable, real-time responsiveness.
    • Cross-Device Integration: Personalized gestures seamlessly operating across augmented reality (“AR”)/virtual reality headsets, AR glasses, smartwatches, and other AI-powered devices, creating a unified interaction experience.
    • Context-Aware Interactions: As the  large language  model gets tailored to the specific user behavior and gesture samples, the system becomes more adaptive to users’ habits of performing a gesture.

    Positioning for Growth in High-Value Markets

    Wearable Devices is targeting rapidly growing markets, including AR, virtual reality (“VR”), smartwatches, and AI-driven wearables, where personalized input solutions are increasingly in demand. By developing user-specific, AI-adaptive control interfaces, the Company aims to:

    • Enhance usability and accessibility for consumers and enterprise applications.
    • Drive adoption of neural-based interfaces in the expanding AI and XR sectors.
    • Establish licensing and commercialization opportunities for its proprietary technology.

    Collaboration and Market Expansion

    With over a decade of R&D and a growing patent portfolio, Wearable Devices is inviting AI and XR industry leaders to explore collaboration and integration opportunities.

    For more information about Wearable Devices’ AI-powered gesture control solutions under development, visit www.wearabledevices.co.il

    About Wearable Devices Ltd.

    Wearable Devices Ltd. is a pioneering growth company revolutionizing human-computer interaction through its AI-powered neural input technology for both consumer and business markets. Leveraging proprietary sensors, software, and advanced AI algorithms, the Company’s innovative products, including the Mudra Band for iOS and Mudra Link for Android, enable seamless, touch-free interaction by transforming subtle finger and wrist movements into intuitive controls. These groundbreaking solutions enhance gaming, and the rapidly expanding AR/VR/XR landscapes. The Company offers a dual-channel business model: direct-to-consumer sales and enterprise licensing. Its flagship Mudra Band integrates functional and stylish design with cutting-edge AI to empower consumers, while its enterprise solutions provide businesses with the tools to deliver immersive and interactive experiences. By setting the input standard for the XR market, Wearable Devices is redefining user experiences and driving innovation in one of the fastest-growing tech sectors. Wearable Devices’ ordinary shares and warrants trade on the Nasdaq under the symbols “WLDS” and “WLDSW,” respectively.

    Forward-Looking Statement Disclaimer

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when we discuss our next-generation gesture personalization technology and the development of our AI-powered neural wristband technology for detection of user specific micro-gestures, expected to enable a future of personalized controls tailored to individual users; our expectations that such technology will reshape human-device interactions, open new commercial and licensing opportunities in the fast-growing XR, smartwatch, and AI-driven device markets; the benefits and advantages of our technology compared to other solutions and technologies currently available; and our goal to enhance accessibility, usability, and engagement in AI-driven environments, drive adoption of neural-based interfaces in the expanding AI and XR sectors and establish licensing and commercialization opportunities for its proprietary technology. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the trading of our ordinary shares or warrants and the development of a liquid trading market; our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2023, filed on March 15, 2024 and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Investor Relations Contact

    Michal Efraty

    IR@wearabledevices.co.il

    The MIL Network –

  • MIL-OSI: NVIDIA CEO Jensen Huang and Industry Visionaries to Unveil What’s Next in AI at GTC 2025

    Source: GlobeNewswire (MIL-OSI)

    SANTA CLARA, Calif., March 05, 2025 (GLOBE NEWSWIRE) — NVIDIA today announced GTC 2025, the world’s premier AI conference, will return March 17-21 to San Jose, Calif. — bringing together the brightest minds in AI to showcase breakthroughs happening now in physical AI, agentic AI and scientific discovery. GTC will bring together 25,000 attendees in person — and 300,000 attendees virtually — for an in-depth look at the technologies shaping the future.

    NVIDIA founder and CEO Jensen Huang will deliver the keynote from SAP Center on Tuesday, March 18, at 10 a.m. PT focused on AI and accelerated computing technologies changing the world. It will be livestreamed and available on demand at nvidia.com. Registration is not required to view the keynote online.

    Onsite attendees can arrive at SAP Center early to enjoy a live pregame show hosted by the “Acquired” podcast and other surprise festivities. Virtual attendees can catch the pregame show live online.

    “AI is pushing the limits of what’s possible — turning yesterday’s dreams into today’s reality,” Huang said. “GTC brings together the brightest scientists, engineers, developers and creators to imagine and build a better future. Come and be first to see the new advances in NVIDIA computing and breakthroughs in AI, robotics, science and the arts that will transform industries and society.”

    AI is here, and it’s mainstream — powering the everyday brands that shape people’s lives. At GTC, some of the world’s largest companies, groundbreaking startups and leading academic minds will convene to explore the transformative impact of AI across industries.

    With over 1,000 sessions, 2,000 speakers and nearly 400 exhibitors, GTC will showcase how NVIDIA’s AI and accelerated computing platforms tackle the world’s biggest and toughest challenges — spanning climate research to healthcare, cybersecurity, humanoid robotics, autonomous vehicles and more. From large language models and physical AI to cloud computing and scientific discovery, NVIDIA’s full-stack platform is driving the next industrial revolution.

    At the conference, attendees can also look forward to curated experiences, including dozens of demos spanning every industry, hands-on training, autonomous vehicle exhibits and rides, and a new GTC Night Market featuring street food and wares from 20 local vendors and artisans.

    Notable speakers include:

    • Pieter Abbeel, director of the UC Berkeley Robot Learning Lab and co-director of the UC Berkeley Artificial Intelligence Lab
    • Drago Anguelov, vice president and head of research, Waymo
    • Frances Arnold, Nobel Laureate in chemistry and Linus Pauling Professor of chemical engineering, bioengineering and biochemistry, California Institute of Technology
    • Gülen Bengi, chief marketing officer, Mars Snacking
    • Esi Eggleston Bracey, chief growth and marketing officer, Unilever
    • Noam Brown, research scientist, OpenAI
    • Nadia Carlsten, CEO, Danish Centre for AI Innovation, Novo Nordisk Foundation
    • Max Jaderberg, chief AI officer, and Sergei Yakneen, chief technology officer, Isomorphic Labs
    • Athina Kanioura, executive vice president and chief strategy and transformation officer, PepsiCo
    • Jeffrey Katzenberg, founding partner, WndrCo
    • The Rt Hon Peter Kyle MP, secretary of state for science, innovation and technology, United Kingdom
    • Yann LeCun, vice president and chief AI scientist, Meta; professor, New York University
    • Arthur Mensch, CEO, Mistral AI
    • Joe Park, chief digital and technology officer, Yum! Brands; president, Byte by Yum!
    • Rajendra “RP” Prasad, chief information and asset engineering officer, Accenture
    • Raji Rajagopalan, vice president, Azure AI Foundry, Microsoft
    • Aaron Saunders, chief technology officer, Boston Dynamics
    • RJ Scaringe, founder and CEO, Rivian
    • Clara Shih, head of business AI, Meta
    • Alicia Tillman, chief marketing officer, Delta Air Lines
    • Pras Velagapudi, chief technology officer, Agility Robotics

    More than 900 organizations will participate, including Accenture, Adobe, Arm, Airbnb, Amazon Web Services (AWS), BMW Group, The Coca-Cola Company, CoreWeave, Dell Technologies, Disney Research, Field AI, Ford, Foxconn, Google Cloud, Kroger, Lowe’s, Mercedes-Benz, Meta, Microsoft, MLB, NFL, OpenAI, Oracle Cloud Infrastructure, Pfizer, Rockwell Automation, Salesforce, Samsung, ServiceNow, SoftBank, TSMC, Uber, Volvo, Volkswagen, Wayve and Zoox.

    Quantum Day Arrives
    NVIDIA will host its first Quantum Day at GTC on March 20. The event will bring together the global quantum computing community and key industry figures.

    Leaders from the quantum computing industry will join a panel with Huang from 10 a.m. to 12 p.m. PT, shedding light on the current state and future of quantum computing. The panel will be livestreamed and available on demand, and feature pioneers in quantum computing, including:

    • Alan Baratz, CEO, D-Wave
    • Ben Bloom, CEO, Atom Computing
    • Peter Chapman, executive chair, IonQ
    • Rajeeb Hazra, CEO, Quantinuum
    • Loïc Henriet, co-CEO, Pasqal
    • Matthew Kinsella, CEO, Infleqtion
    • Subodh Kulkarni, CEO, Rigetti
    • John Levy, CEO, SEEQC
    • Andrew Ory, CEO, QuEra Computing
    • Théau Peronnin, CEO, Alice & Bob
    • Rob Schoelkopf, chief scientist, Quantum Circuits
    • Simone Severini, general manager, quantum technologies, AWS
    • Pete Shadbolt, chief scientific officer, PsiQuantum
    • Krysta Svore, technical fellow, Microsoft

    Quantum Day will also feature technical sessions with partners, NVIDIA researchers and more.

    AI Training and Certification for Developers
    NVIDIA is training the workforce of the future to equip them with critical skills for navigating and leading in an AI-driven future.

    GTC attendees can participate in more than 80 hands-on instructor-led workshops and training labs provided by NVIDIA Training.

    For the first time, onsite attendees can take certification exams for free — gaining a tremendous opportunity to validate their AI and accelerated computing skills and advance their careers.

    In addition, new professional certifications will be available in accelerated data science and AI networking, as well as workshops in generative AI, agentic AI and accelerated computing with CUDA® C++.

    Learn more about training offerings at GTC on the event webpage.

    Startup and Venture Capital Ecosystem
    For startups and VCs, GTC will feature an AI Day with expert panels, live demos from top startups, session tracks designed for investors, a VC reverse pitch session and exclusive networking opportunities with investors.

    The NVIDIA Inception Pavilion will spotlight cutting-edge innovation from the NVIDIA Inception program, home to more than 22,000 startups. Nearly 250 Inception members will showcase their breakthroughs with demos, exhibitions and sessions spanning areas such as healthcare, climate science and robotics.

    NVIDIA Financial Analyst Q&A
    NVIDIA will hold a Q&A session for investors on March 19 at 8:30 a.m. PT. The webcast will be available at investor.nvidia.com.

    About NVIDIA
    NVIDIA (NASDAQ: NVDA) is the world leader in accelerated computing.

    For further information, contact:
    Clarissa Eyu
    Corporate Communications
    NVIDIA Corporation
    ceyu@nvidia.com

    Certain statements in this press release including, but not limited to, statements as to: the timing, size, themes, sessions, speakers, participants, availability and impact of GTC, including the GTC keynote and the Quantum Day; AI pushing the limits of what’s possible — turning yesterday’s dreams into today’s reality; from large language models and conversational AI to cloud computing and scientific breakthroughs, NVIDIA’s full-stack platform driving the next industrial revolution; AI powering the everyday brands that shape people’s lives; NVIDIA training the workforce of the future; the availability of professional certifications for onsite attendees; and the timing and availability of the financial analyst Q&A are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic conditions; our reliance on third parties to manufacture, assemble, package and test our products; the impact of technological development and competition; development of new products and technologies or enhancements to our existing product and technologies; market acceptance of our products or our partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of our products or technologies when integrated into systems; as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

    © 2025 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo and CUDA are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and other countries. Other company and product names may be trademarks of the respective companies with which they are associated. Features, pricing, availability and specifications are subject to change without notice.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/922e27de-6626-4818-9a6d-d3108f818e25.

    The MIL Network –

  • MIL-OSI Economics: Apple introduces the new MacBook Air with the M4 chip and a sky blue color

    Source: Apple

    Headline: Apple introduces the new MacBook Air with the M4 chip and a sky blue color

    March 5, 2025

    PRESS RELEASE

    Apple introduces the new MacBook Air with the soaring performance of the M4 chip, a gorgeous new sky blue color, and a lower starting price of $999

    The world’s most popular laptop delivers more value than ever with greater performance, up to 18 hours of battery life, a 12MP Center Stage camera, and enhanced external display support — all in its strikingly thin and light design

    CUPERTINO, CALIFORNIA Apple today announced the new MacBook Air, featuring the blazing-fast performance of the M4 chip, up to 18 hours of battery life,1 a new 12MP Center Stage camera, and a lower starting price. It also offers support for up to two external displays in addition to the built-in display, 16GB of starting unified memory, and the incredible capabilities of macOS Sequoia with Apple Intelligence — all packed into its strikingly thin and light design that’s built to last. The new MacBook Air now comes in an all-new color — sky blue, a metallic light blue that joins midnight, starlight, and silver — giving MacBook Air its most beautiful array of colors ever. It also now starts at just $999 — $100 less than before — and $899 for education, making it an incredible value for students, business professionals, or anyone looking for a phenomenal combination of world-class performance, portability, design, and durability. With two sizes to choose from, the new 13- and 15-inch MacBook Air are available to pre-order today, with availability beginning Wednesday, March 12.

    “MacBook Air is by far the world’s most popular laptop, and today we’re giving everyone even more reasons to love it, including a big boost in performance with the M4 chip, a new Center Stage camera, and a beautiful new sky blue color,” said Greg Joswiak, Apple’s senior vice president of Worldwide Marketing. “Combined with its thin and light, fanless design, all-day battery life, and the incredible capabilities of macOS Sequoia with Apple Intelligence, MacBook Air is unlike any other laptop. And with a new lower starting price of $999, MacBook Air delivers more value to consumers than ever before, making this the perfect moment to upgrade or experience the Mac for the first time.”

    A Fresh New Hue: Hello, Sky Blue  

    Adding a new choice to the lineup of MacBook Air colors is the all-new sky blue. A beautiful, metallic light blue that creates a dynamic gradient when light reflects off of its surface, sky blue joins midnight, starlight, and silver to complete the brilliant array of color choices for MacBook Air. All color options, including sky blue, come with a color-matched MagSafe charge cable.

    M4: Performance to the Next Level 

    With M4 in MacBook Air, everything from daily activities like multitasking between apps to more demanding tasks like photo and video editing is faster and more fluid. The M4 chip features a powerful 10-core CPU, an up to 10-core GPU, and support for up to 32GB of unified memory, making the new MacBook Air up to 2x faster than the M1 model.1 When compared to the fastest Intel-based MacBook Air, the M4 model delivers up to 23x faster performance.1 With battery life on the new MacBook Air up to 18 hours, Intel-based upgraders will get up to six additional hours, so they can get more done on a single charge.1 The powerful Neural Engine in the M4 chip, which accelerates AI-based tasks, is also up to 3x faster than on MacBook Air with M1, significantly increasing speed in tasks like automatically enhancing photos and removing background noise from a video.

    MacBook Air with M4 delivers a new level of performance:

    • Spreadsheet calculation performance in Microsoft Excel is up to 4.7x faster than the fastest Intel-based MacBook Air, and up to 1.6x faster than the 13-inch MacBook Air with M1.1
    • Video editing in iMovie is up to 8x faster than the fastest Intel-based MacBook Air, and up to 2x faster than the 13-inch MacBook Air with M1.2
    • Photo editing in Adobe Photoshop is up to 3.6x faster than the fastest Intel-based MacBook Air, and up to 2x faster than the 13-inch MacBook Air with M1.1
    • Web browsing is up to 60 percent faster when compared to a PC laptop with an Intel Core Ultra 7 processor, and more demanding tasks get up to 2x faster performance.1

    Built for Apple Intelligence

    MacBook Air is built for Apple Intelligence, unlocking exciting new capabilities that make Mac even more helpful and powerful. Users can explore creative new ways to express themselves visually with Image Playground, create the perfect emoji with Genmoji, and make their writing even more dynamic with Writing Tools. With new Siri improvements, users can move fluidly between spoken and typed requests to accelerate tasks throughout their day, and Siri can answer thousands of questions about Mac features and settings, with step-by-step instructions for how to do something on Mac. With access to ChatGPT seamlessly integrated into Writing Tools and Siri, users can choose to access ChatGPT’s expertise so they can get things done faster and easier than ever before. Users can access ChatGPT for free without creating an account, and privacy protections are built in — their IP addresses are obscured and OpenAI won’t store requests. Users can choose whether to enable ChatGPT integration, and are in full control of when they use it and what information is shared with ChatGPT.

    Designed to protect users’ privacy at every step, Apple Intelligence uses on-device processing, meaning that many of the models that power it run entirely on device. For requests that require access to larger models, Private Cloud Compute extends the privacy and security of Mac into the cloud to unlock even more intelligence. When using Private Cloud Compute, users’ data is never stored or shared with Apple; it is used only to fulfill their request.

    Always Camera-Ready

    A new 12MP Center Stage camera with improved video quality keeps MacBook Air users looking their best, whether at home, school, or work. Center Stage automatically keeps users centered in the frame as they move around — great for connecting with friends and family over FaceTime or joining an important meeting. It also supports Desk View, which simultaneously displays the user and a top-down view of their desk, making video calls even more engaging for those who want to show off their latest DIY project or present a prototype at work.

    Enhanced Display Support 

    MacBook Air can easily power a multi-display setup to make viewing and interacting with content a breeze, for anyone from business professionals at the office multitasking across multiple windows, to students in a dorm room tackling a big project across several apps. For users who like to spread their work out, MacBook Air now supports up to two 6K external displays, in addition to its built-in Liquid Retina display.

    Everything Users Already Love

    More people choose MacBook Air over any other laptop. In addition to what’s new, MacBook Air with M4 includes all of the useful features and capabilities that have made it so popular, including:

    • Reliability and durability: The 13- and 15-inch MacBook Air feature a durable aluminum unibody enclosure that’s built to last, and are both less than half an inch thin, so users can work, play, or create from anywhere. The 13-inch model provides the ultimate in portability for users on the go, while the 15-inch model offers even more room to multitask.
    • Touch ID and Magic Keyboard: With the advanced security of Touch ID, users can easily and securely unlock their MacBook Air, make online purchases with Apple Pay, and download apps. The comfortable and quiet Magic Keyboard is backlit and comes with a full-height function row.
    • Gorgeous display: MacBook Air features a brilliant 13.6- or 15.3-inch Liquid Retina display with up to 500 nits of brightness, support for 1 billion colors, and up to 2x the resolution of comparable PC laptops. Content looks vivid with sharp detail, and text appears super crisp.
    • Versatile connectivity: MacBook Air with M4 features fast Wi-Fi 6E and Bluetooth 5.3. It also includes MagSafe charging and two Thunderbolt ports for connecting accessories like external storage and security keys, along with a 3.5mm headphone jack.
    • Mics and speakers: Users will sound their best with a three-mic array and enhanced voice clarity on audio and video calls. And with an immersive sound system that has support for Spatial Audio along with Dolby Atmos, users will enjoy a three-dimensional soundstage for music and movies.

    An Unrivaled Experience: macOS Sequoia

    macOS Sequoia completes the new MacBook Air experience with a host of exciting features, including iPhone Mirroring, allowing users to wirelessly interact with their iPhone, its apps, and notifications directly from their Mac.3 Safari, the world’s fastest browser,4 now surfaces relevant information on sites in Highlights; summarizes articles in the redesigned Reader; keeps videos front and center in a new Video Viewer; and lets users hide distracting items with Distraction Control. Gaming gets even more immersive with features like Personalized Spatial Audio and improvements to Game Mode, along with a breadth of exciting titles, including Civilization VII, Wuthering Waves, and more. Easier window tiling means users can stay organized with a window layout that works best for them. The all-new Passwords app gives convenient access to passwords, passkeys, and other credentials — all stored in one place. And users can apply new, beautiful built-in backgrounds for video calls, which include a variety of color gradients, or use their own photos.

    Next month, macOS Sequoia 15.4 will make it easier than ever to set up the new MacBook Air with iPhone. By simply bringing iPhone close to Mac, users can quickly and conveniently sign in to their Apple Account to get their files, photos, messages, passwords, and more on their new MacBook Air.5

    Better for the Environment

    MacBook Air is designed with the environment in mind. As part of Apple 2030, the company’s ambitious goal to be carbon neutral across its entire carbon footprint by the end of this decade, Apple is transitioning to renewable electricity for manufacturing, and investing in wind and solar projects around the world to address the electricity used to charge all Apple products, including MacBook Air. Today, all Apple facilities run on 100 percent renewable electricity — including the data centers that power Apple Intelligence.

    To achieve Apple 2030, the company is designing products with more recycled and renewable materials, which further drives down the carbon footprint. MacBook Air features over 55 percent recycled content overall, the most in any Apple product. This includes 100 percent recycled aluminum in the enclosure and 100 percent recycled rare earth elements in all magnets. The battery contains 100 percent recycled cobalt and — in a first for any Mac — over 95 percent recycled lithium. MacBook Air meets Apple’s high standards for energy efficiency, and is free of mercury, brominated flame retardants, and PVC. The packaging is entirely fiber-based, bringing Apple closer to its goal to remove plastic from all packaging by the end of 2025.6

    Pricing and Availability

    • Customers can pre-order the new MacBook Air with M4 starting today on apple.com/store and in the Apple Store app in 28 countries and regions, including the U.S. It will begin arriving to customers, and will be in Apple Store locations and Apple Authorized Resellers, starting Wednesday, March 12.
    • The 13-inch MacBook Air with M4 starts at $999 (U.S.) and $899 (U.S.) for education, and the 15‑inch MacBook Air with M4 starts at $1,199 (U.S.) and $1,099 (U.S.) for education. Both are available in sky blue, midnight, starlight, and silver.
    • Additional technical specifications, configure-to-order options, and accessories are available at apple.com/mac.
    • Apple Intelligence is available on all Mac models with M1 and later, in localized English for Australia, Canada, Ireland, New Zealand, South Africa, the UK, and the U.S. Additional languages — including French, German, Italian, Portuguese (Brazil), Spanish, Japanese, Korean, Chinese (simplified), English (Singapore), and English (India) — will be available in April, with more languages coming over the course of the year, including Vietnamese. Some features, applications, and services may not be available in all regions or all languages.
    • With Apple Trade In, customers can trade in their current computer and get credit toward a new Mac. Customers can visit apple.com/shop/trade-in to see what their device is worth.
    • AppleCare+ for Mac provides unparalleled service and support. This includes unlimited incidents of accidental damage, battery service coverage, and 24/7 support from the people who know Mac best.
    • Every customer who buys directly from Apple Retail gets access to Personal Setup. In these guided online sessions, a Specialist can walk them through setup, or focus on features that help them make the most of their new device. Customers can also learn more about getting started with their new device with a Today at Apple session at their nearest Apple Store.
    • Customers in the U.S. who shop at Apple using Apple Card can pay monthly at 0 percent APR when they choose to check out with Apple Card Monthly Installments, and they’ll get 3 percent Daily Cash back — all up front. More information — including details on eligibility, exclusions, and Apple Card terms — is available at apple.com/apple-card/monthly-installments.

    About Apple Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.

    1. Testing was conducted by Apple in January 2025. See apple.com/macbook-air for more information. Battery life varies by use and configuration. See apple.com/batteries for more information.
    2. Results are compared to previous-generation MacBook Air systems with Apple M1, 8-core CPU, 8-core GPU, 16GB of RAM, and 2TB SSD; and 1.2GHz quad-core Intel Core i7-based MacBook Air systems with Intel Iris Plus Graphics, 16GB of RAM, and 2TB SSD.
    3. Available on Mac computers with Apple silicon and Intel-based Mac computers with a T2 Security Chip. See requirements on apple.com/macos/macos-sequoia. Some iPhone features (for example, camera and microphone) are not compatible with iPhone Mirroring.
    4. Testing was conducted by Apple in August 2024. See apple.com/safari for more information.
    5. Available next month on macOS Sequoia 15.4 with iPhone and iPad running iOS 18.4, iPadOS 18.4, or a later version.
    6. Based on retail packaging as shipped by Apple. Breakdown of U.S. retail packaging by weight. Adhesives, inks, and coatings are excluded from our calculations of plastic content and packaging weight.

    Press Contacts

    Starlayne Meza

    Apple

    starlayne_meza@apple.com

    Lizette Viviana Du Pond

    Apple

    ldupond@apple.com

    Apple Media Helpline

    media.help@apple.com

    MIL OSI Economics –

  • MIL-OSI Economics: Apple unveils new Mac Studio, the most powerful Mac ever

    Source: Apple

    Headline: Apple unveils new Mac Studio, the most powerful Mac ever

    March 5, 2025

    PRESS RELEASE

    Apple unveils new Mac Studio, the most powerful Mac ever, featuring M4 Max and new M3 Ultra

    With Thunderbolt 5, up to 512GB of unified memory, and an up to 16TB SSD, all in a compact design, the ultimate pro desktop delivers even more performance

    CUPERTINO, CALIFORNIA Apple today announced the new Mac Studio, the most powerful Mac ever made, featuring M4 Max and the new M3 Ultra chip. The ultimate pro desktop delivers groundbreaking pro performance, extensive connectivity now with Thunderbolt 5, and new capabilities in its compact and quiet design that can live right on a desk. Mac Studio can tackle the most intense workloads with its powerful CPU, Apple’s advanced graphics architecture, higher unified memory capacity, ultrafast SSD storage, and a faster and more efficient Neural Engine. It provides a big boost in performance compared to the previous generation, and a massive leap for users coming from older Macs.

    Mac Studio is a powerhouse for AI, capable of running large language models (LLMs) with over 600 billion parameters entirely in memory, thanks to its advanced GPU and up to 512GB of unified memory with M3 Ultra — the most ever in a personal computer. It’s also built for Apple Intelligence, the personal intelligence system that transforms how users work, communicate, and express themselves, while protecting their privacy. The new Mac Studio is available to pre-order today, with availability beginning March 12.

    “The new Mac Studio is the most powerful Mac we’ve ever made,” said John Ternus, Apple’s senior vice president of Hardware Engineering. “A complete game-changer for pros around the world — powering both home and pro studios — Mac Studio sits in a class of its own, offering a staggering amount of performance in a compact, quiet design that fits beautifully on your desk. With this new Mac Studio, we’re delivering even more extreme performance with M4 Max and M3 Ultra, support for half a terabyte of unified memory, up to 16TB of superfast storage, and Thunderbolt 5 connectivity. Mac Studio truly is the ultimate pro desktop.”

    Mac Studio with M4 Max: A Performance Juggernaut

    The new Mac Studio with M4 Max is the perfect choice for video editors, colorists, developers, engineers, photographers, creative pros, and other users who need to blaze through intensive workflows. It delivers phenomenal single-threaded CPU performance with the world’s fastest CPU core, along with outstanding multithreaded CPU performance for complex workloads. Featuring an up to 16-core CPU, an up to 40-core GPU, over half a terabyte per second of unified memory bandwidth, and a Neural Engine that is over 3x faster than M1 Max, Mac Studio with M4 Max can run on-device AI models incredibly fast. Mac Studio with M4 Max is up to 3.5x faster than Mac Studio with M1 Max, and is up to 6.1x faster than the most powerful Intel-based 27-inch iMac.1

    The GPU in M4 Max also brings Apple’s advanced graphics architecture to Mac Studio for the first time, including dynamic caching, hardware-accelerated mesh shading, and a second-generation ray-tracing engine for more seamless content creation and gaming. Mac Studio with M4 Max starts at 36GB of unified memory, with support for up to 128GB, so users can do everything from sorting through thousands of images with speed and precision, to producing complex compositions with hundreds of tracks, plug-ins, and virtual instruments, all played in real time. And with the powerful Media Engine in M4 Max, which features two ProRes accelerators, Mac Studio performance is outstanding for videographers who can effortlessly work with multiple streams of 4K ProRes.

    Mac Studio with M4 Max enables:1

    • Up to 1.6x faster image processing in Adobe Photoshop when compared to Mac Studio with M1 Max, and up to 2.9x faster when compared to the 27-inch iMac with Core i9. 
    • Up to 2.1x faster build performance when compiling code in Xcode when compared to Mac Studio with M1 Max, and up to 3.1x faster when compared to the 27-inch iMac with Core i9. 
    • Up to 1.2x faster ProRes transcode performance in Compressor when compared to Mac Studio with M1 Max, and up to 2.8x faster when compared to the 27-inch iMac with Core i9. 
    • Up to 1.6x faster video processing performance in Topaz Video AI when compared to Mac Studio with M1 Max, and up to 5x faster when compared to the 27-inch iMac with Core i9.

    Mac Studio with M3 Ultra: The Pinnacle of Pro Performance

    Mac Studio with M3 Ultra pushes demanding workflows to a whole new level. It delivers nearly 2x faster performance than M4 Max in workloads that take advantage of high CPU and GPU core counts, and massive amounts of unified memory.2 Mac Studio with M3 Ultra is up to 2.6x faster than Mac Studio with M1 Ultra, and up to 6.4x faster than the 16-core Intel Xeon W-based Mac Pro.1 With the new M3 Ultra, Mac Studio features an up to 32-core CPU with 24 performance cores, 50 percent more than any previous Ultra chip and the most CPU cores ever in a Mac. It also offers an up to 80-core GPU, more than any Apple silicon chip; a powerful 32-core Neural Engine for on-device AI and machine learning (ML); and a high-bandwidth memory architecture that delivers over 800GB/s of unified memory bandwidth.

    Mac Studio with M3 Ultra starts with 96GB of unified memory, which can be configured up to 512GB — the most unified memory ever in a personal computer — and up to 16TB of ultrafast SSD storage, so content and data can be kept locally. That’s enough storage for over 12 hours of 8K ProRes video. The advanced graphics architecture brings Dynamic Caching, along with hardware-accelerated mesh shading and ray tracing, so graphics workflows like GPU-based renderers are up to 2.6x faster than Mac Studio with M1 Ultra.

    Mac Studio with M3 Ultra enables:1

    • Up to 16.9x faster token generation using an LLM with hundreds of billions of parameters in LM Studio when compared to Mac Studio with M1 Ultra, thanks to its massive amounts of unified memory.
    • Up to 2.6x faster scene rendering performance in Maxon Redshift when compared to Mac Studio with M1 Ultra, and up to 6.4x faster when compared to the 16-core Intel-based Mac Pro with Radeon Pro W5700X.
    • Up to 1.1x faster basecalling for DNA sequencing in Oxford Nanopore MinKNOW when compared to Mac Studio with M1 Ultra, and up to 21.1x faster when compared to the 16-core Intel-based Mac Pro with Radeon Pro W5700X. 
    • Up to 1.4x faster 8K video rendering performance in Final Cut Pro when compared to Mac Studio with M1 Ultra, and up to 4x faster when compared to the 16-core Intel-based Mac Pro with Radeon Pro W5700X.

    Thunderbolt 5 for High-Bandwidth Accessories and Expansion

    The new Mac Studio features Thunderbolt 5 ports that deliver transfer speeds up to 120 Gb/s, up to 3x faster than the prior generation, enabling faster external storage, expansion chassis, and powerful hub solutions. For those who rely on PCIe expansion cards for their workflows, Thunderbolt 5 allows users to connect an external expansion chassis with higher bandwidth and lower latency. And with M3 Ultra, Mac Studio now drives up to eight Pro Display XDRs at the full 6K resolution. Mac Studio also offers a wide array of connectivity within easy reach for pros, including a 10Gb Ethernet port, an HDMI port, an SDXC card slot on the front to conveniently import photos and video, along with built-in Wi-Fi and Bluetooth.

    Built for Apple Intelligence

    Mac Studio helps pros push the boundaries of what they can do, and Apple Intelligence elevates those experiences even further. Writing is even more dynamic with Writing Tools, which can help users rewrite, proofread, or summarize — whether they are responding to emails or using summarization to draft an abstract in seconds in apps like Scrivener. Pros can minimize unnecessary distractions with Priority Notifications and use live transcription in Notes to record and easily recap important meetings. With new Siri improvements, users can move fluidly between spoken and typed requests to accelerate tasks throughout their day, and Siri can answer thousands of questions about Mac features and settings, with step-by-step instructions like how to combine PDF files in Preview. With access to ChatGPT seamlessly integrated into Writing Tools and Siri, users can tap into ChatGPT’s expertise, so they can get things done even faster and easier. Users can choose to enable ChatGPT integration, and are in full control of when to use it and what information is shared with ChatGPT. Users can also explore creative new ways to express themselves visually with Image Playground, and drop their original image right into their paper, mood board, or Keynote presentation. Whether users are researching their next project, editing a video, creating new designs, or preparing for their next lecture, these new tools will help pros be even more productive.

    Designed to protect users’ privacy at every step, Apple Intelligence uses on-device processing, meaning that many of the models that power it run entirely on device. For requests that require access to larger models, Private Cloud Compute extends the privacy and security of Mac into the cloud to unlock even more intelligence. When using Private Cloud Compute, users’ data is never stored or shared with Apple; it is used only to fulfill their request.

    macOS Sequoia: An Unrivaled Experience

    macOS Sequoia completes the new Mac Studio experience with a host of exciting features, including iPhone Mirroring, which allows users to wirelessly interact with their iPhone, its apps, and notifications directly from their Mac.3 Pros can now move files, photos, and videos between iPhone and Mac as easily as they can drag and drop between apps on Mac. Easier window tiling means users can stay organized with a window layout that works best for them. The all-new Passwords app gives convenient access to passwords, passkeys, and other credentials, all stored in one place. And users can apply beautiful built-in backgrounds for video calls, which include a variety of color gradients and system wallpapers, or upload their own photos. Safari, the world’s fastest browser,4 now surfaces relevant information on sites in Highlights; summarizes articles in the redesigned Reader; keeps videos front and center in a new Video Viewer; and lets users hide distracting items with Distraction Control. Gaming gets even more immersive with features like Personalized Spatial Audio and improvements to Game Mode, along with a breadth of exciting titles, including Cyberpunk 2077: Ultimate Edition by CD PROJEKT RED, Assassin’s Creed Shadows, and more.

    Next month, macOS Sequoia 15.4 will make it easier than ever to set up the new Mac Studio with iPhone.5 By simply bringing iPhone close to Mac, users can quickly and conveniently sign in to their Apple Account to get their files, photos, messages, passwords, and more on their new Mac Studio.

    The Ultimate Studio Setup

    Mac Studio, together with Studio Display, empowers creative users to build the studio of their dreams. Studio Display perfectly pairs with Mac Studio with its expansive 27-inch 5K Retina display, 12MP Center Stage camera, studio-quality three-mic array, and six-speaker sound system with Spatial Audio. For users working on HDR workflows, Pro Display XDR offers a 32-inch Retina 6K display with up to 1600 nits of peak HDR brightness. Customers can also add matching Magic accessories — including Magic Keyboard with Touch ID, Magic Trackpad, and Magic Mouse — that beautifully complement the elegant design of Mac Studio and Studio Display.

    Better for the Environment

    The new Mac Studio is designed with the environment in mind. As part of Apple 2030, the company’s ambitious goal to be carbon neutral across its entire carbon footprint by the end of this decade, Apple is transitioning to renewable electricity for its manufacturing, and investing in wind and solar projects around the world to address the electricity used to power all Apple products, including Mac Studio. Today, all Apple facilities run on 100 percent renewable electricity — including the data centers that power Apple Intelligence.

    To achieve Apple 2030, the company is designing products with more recycled and renewable materials, which further drives down the carbon footprint. Mac Studio features over 30 percent recycled content overall, including 100 percent recycled aluminum in the enclosure and 100 percent recycled rare earth elements in all magnets. Mac Studio uses far less energy and materials than desktops in its class, and is free of mercury, brominated flame retardants, and PVC. The packaging is entirely fiber-based, bringing Apple closer to its goal to remove plastic from all packaging by the end of 2025.6

    Pricing and Availability

    • Customers can pre-order the new Mac Studio starting today on apple.com/store and in the Apple Store app in 28 countries and regions, including the U.S. It will begin arriving to customers, and will be in Apple Store locations and Apple Authorized Resellers, starting Wednesday, March 12.
    • Mac Studio starts at $1,999 (U.S.) and $1,799 (U.S.) for education. Additional configure-to-order options are available at apple.com/store. 
    • More information on Studio Display, Pro Display XDR, and Magic accessories is available at apple.com/shop/buy-mac.
    • Apple Intelligence is available on all Mac models with M1 and later, in localized English for Australia, Canada, Ireland, New Zealand, South Africa, the UK, and the U.S. Additional languages — including French, German, Italian, Portuguese (Brazil), Spanish, Japanese, Korean, Chinese (simplified), English (Singapore), and English (India) — will be available in April, with more languages coming over the course of the year, including Vietnamese. Some features, applications, and services may not be available in all regions or all languages. 
    • With Apple Trade In, customers can trade in their current computer and get credit toward a new Mac. Customers can visit apple.com/shop/trade-in to see what their device is worth. 
    • AppleCare+ for Mac provides unparalleled service and support. This includes unlimited incidents of accidental damage, battery service coverage, and 24/7 support from the people who know Mac best. 
    • Every customer who buys directly from Apple Retail gets access to Personal Setup. In these guided online sessions, a Specialist can walk them through setup, or focus on features that help them make the most of their new device. Customers can also learn more about getting started with their new device with a Today at Apple session at their nearest Apple Store.
    • Customers in the U.S. who shop at Apple using Apple Card can pay monthly at 0 percent APR when they choose to check out with Apple Card Monthly Installments, and they’ll get 3 percent Daily Cash back — all up front. More information — including details on eligibility, exclusions, and Apple Card terms — is available at apple.com/apple-card/monthly-installments.

    About Apple Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.

    1. Testing was conducted by Apple in January and February 2025. See apple.com/mac-studio for more information.
    2. Results are compared to Mac Studio systems with Apple M4 Max, 16-core CPU, 40-core GPU, 128GB of RAM, and 8TB SSD.
    3. Available on Mac computers with Apple silicon and Intel-based Mac computers with a T2 Security Chip. See requirements on apple.com/macos/macos-sequoia. Some iPhone features (for example, camera and microphone) are not compatible with iPhone Mirroring.
    4. Testing was conducted by Apple in August 2024. See apple.com/safari for more information.
    5. Available next month on macOS Sequoia 15.4 with iPhone and iPad running iOS 18.4, iPadOS 18.4, or a later version.
    6. Based on retail packaging as shipped by Apple. Breakdown of U.S. retail packaging by weight. Adhesives, inks, and coatings are excluded from calculations of plastic content and packaging weight.

    Press Contacts

    Michelle Del Rio

    Apple

    mr_delrio@apple.com

    Starlayne Meza

    Apple

    starlayne_meza@apple.com

    Apple Media Helpline

    media.help@apple.com

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Sniffer dogs help to seize illegal vapes and cigarettes

    Source: City of Coventry

    Sniffer dogs, have been helping Coventry Police and Council Trading Standards Officers to hunt down thousands of illegal vapes and cigarettes, during city raids.

    The Council and Police’s local neighbourhood teams have joined forces with four-legged working cocker spaniels Sky and Louis – both are trained to sniff out hidden compartments of tobacco, vapes and money.

    The tobacco detection dogs have been offering a helping paw as part of a crackdown at shops across Coventry.

    The dogs helped sniff out illicit goods at five city centre premises and even indicated that there was tobacco behind false walls, inside furniture and inside vehicles, which officers eventually accessed to find the goods inside.

    At one location a substantial amount of N2O, better known as Nox or Noz, was also seized and will now be investigated by the Police.

    Each incident where illicit goods were recovered will be now investigated.  

    Councillor Abdul Salam Khan, Cabinet member for Police and Deputy Leader at Coventry City Council, said:

    “Our Trading Standards team go above and beyond in their pursuit of illegal vapes and cigarettes, as is shown with this very successful operation.

    “Hiring Sky and Louis, who did an excellent job, was a fantastic way of protecting the health of our residents and keeping local children safe from underage sales.

    “With the ongoing help of partners, West Midlands Police we are very effective in dealing with this problem.

    “Anyone who knows of retailers selling illegal goods, or selling age restricted goods to children, can tell our Trading Standards team about it via our online reporting form found by searching ‘Coventry Trading Standards’.”

    Wednesday, 5th March 2025

    MIL OSI United Kingdom –

  • MIL-OSI: MEXC Lists RedStone (RED) with 300,000 USDT Prize Pool

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, March 05, 2025 (GLOBE NEWSWIRE) — MEXC, the world’s leading cryptocurrency trading platform, has announced it will list RedStone (RED) on March 6, 2025. To celebrate, MEXC will be launching exclusive events for all users, with a total prize pool of 300,000 USDT.

    RedStone (RED) is a rapidly growing Oracle solution designed to enhance DeFi applications by providing gas-efficient data feeds across 50+ blockchains. Trusted by top protocols like Morpho, Venus, and ether.fi, RedStone is advancing data availability for decentralized finance.

    RedStone (RED) Listing Events – 300,000 USDT Prize Pool

    To celebrate the listing of RedStone (RED), MEXC will be launching multiple events with a total 300,000 USDT prize pool, running from February 26, 2025, 04:00 UTC, to March 19, 2025, 10:00 UTC.
    Event 1: Deposit and Share 200,000 USDT
    Event 2: Futures Challenge — Trade to Share 50,000 USDT in Futures Bonuses
    Event 3: Invite New Users & Share 50,000 USDT
    Event 4: Spread the Word and Win 1,000 USDT Bonus Rewards

    With the listing of RedStone, MEXC further strengthens its position as a leading exchange for emerging and high-potential crypto assets. The platform has grown its user base to 32 million by offering a diverse selection of tokens, high-frequency airdrops, and seamless participation processes. In 2024, MEXC introduced 2,376 new tokens, including 1,716 initial listings and 605 memecoins, with total airdrop rewards exceeding $136 million.

    For more information and to participate, please visit the event page.

    About MEXC
    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 32 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent 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

    Contact:
    Lucia Hu
    PR Manager
    lucia.hu@mexc.com

    Disclaimer: This content 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.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/67ab62dc-cccd-4f21-8b6f-59ebd1aaac9c

    The MIL Network –

  • MIL-OSI United Kingdom: Maritime Illegal Wildlife Trade Conference showcases tech and ASEAN efforts to combat trafficking

    Source: United Kingdom – Executive Government & Departments

    World news story

    Maritime Illegal Wildlife Trade Conference showcases tech and ASEAN efforts to combat trafficking

    The conference focused on innovative technologies and strategies to combat illegal wildlife trade, promoting marine biodiversity and sustainable trade in ASEAN.

    The Centre for Environment, Fisheries and Aquaculture Science (CEFAS) hosted the Maritime Illegal Wildlife Trade (IWT) Conference in Singapore from 25th to 27th February 2025, to address the pressing issue of the IWT in marine species.

    Supported by the UK Government, this event united key Southeast Asian and global stakeholders from government, NGOs, academia, and the private sector to explore cutting-edge technologies and strategies to tackle marine IWT, advancing global efforts to protect marine biodiversity in the ASEAN region and promoting sustainable trade practices.  

    With around 90% of global trade and illegal wildlife trafficking occurring via maritime transport, regional coordination and innovative solutions are more crucial than ever.

    UK Ambassador to the Association of Southeast Asian Nations (ASEAN), Sarah Tiffin said:  

    Through the ASEAN-UK Plan of Action, the UK is committed to working with ASEAN to enhance regional cooperation and help build Member States’ capacities to prevent and repress the illicit trafficking of wildlife. We are delighted to welcome government representatives from across the ASEAN region to this conference to contribute to the depth and breadth of their expertise through talks, case studies and workshop sessions. IWT is a big concern; it not only affects national fishing industries, but livelihoods and increasing knock-on transnational crime that spills from the maritime space to land.

    The Chair of ASEAN Working Group on CITES (Convention on International Trade in Endangered Species of Wild Fauna and Flora) and Wildlife Enforcement, Mr Athapol Charoenshunsa said:  

    The illegal wildlife trade threatens key marine species such as sharks, rays, turtles, and corals in Southeast Asia, drawing increasing attention as efforts to combat its impact intensify. The potential for tools and technology to address these concerns is promising, and the ASEAN Working Group on CITES and Wildlife Enforcement has supported this conference since its inception to strengthen ASEAN-UK collaboration.

    The Maritime IWT Conference is organised in partnership with the cooperation of National Parks Board (NParks) Singapore.  

    NParks’ CEO, Ms Hwang Yu-Ning said:  

    Singapore is privileged to host the Maritime Illegal Wildlife Trade Conference, providing a platform for representatives from ASEAN member states, the UK, and other partners to convene and share knowledge. In line with the theme of the conference, we recognise the importance of utilising new and emerging tools in this global fight and will continue to strengthen our partnerships and enhance our collective efforts in tackling illegal wildlife trade and protecting biodiversity more effectively.

    The UK is committed to tackling IWT in marine species particularly through its support of the ASEAN Outlook on the Indo-Pacific and the ASEAN Maritime Outlook. By bringing together a diverse array of stakeholders, the conference aimed to foster partnerships and enhance regional cooperation. Given the tangible negative effects that the illegal trade of marine species has on the ASEAN region, including impacts on livelihoods, the facilitation of corruption and the spread of wildlife disease, this conference and its outcomes are of paramount importance to the UK Mission to ASEAN. 

    This initiative aligns with the ASEAN-UK Plan of Action (2022-26), which includes commitments to combat the illegal trade in wildlife and timber pursuant to the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) and other relevant conventions and agreements.

    Updates to this page

    Published 5 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Speech by SITI at Brussels ETO Chinese New Year reception in Barcelona (English only) (with photo)

    Source: Hong Kong Government special administrative region

    Speech by SITI at Brussels ETO Chinese New Year reception in Barcelona (English only) (with photo)
    ******************************************************************************************

    Following is the speech by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at the Chinese New Year reception hosted by the Hong Kong Economic and Trade Office in Brussels (Brussels ETO) in Barcelona, Spain on March 4 (Barcelona time): Ladies and gentlemen,      Good evening, buenas noches, Kung Hei Fat Choi! It is with great pleasure that I join you all here this evening at the Chinese New Year Reception in Barcelona to extend my warmest greetings from Hong Kong.      As we gather here to celebrate the Year of the Snake, it is a timely opportunity to reflect on the Snake as a symbol of transformation, agility, and wisdom – qualities that resonate deeply with our endeavors in pushing ahead the innovation and technology (I&T) development.      Building on Hong Kong’s success as a world-renowned international financial, aviation and trading centre, Hong Kong is well-positioned to be developed into an international I&T centre under the big wave of technology. With the unwavering support from the motherland and our substantial investment on the I&T front in recent years, Hong Kong’s I&T ecosystem is becoming increasingly vibrant. Our I&T development is now at the dawn of an unprecedented golden era.      Over the past two years, the Hong Kong Special Administrative Region Government has launched a series of proactive initiatives to boost Hong Kong’s I&T development, including developing I&T infrastructure, supporting research and development, and attracting talent and investments. I am happy to say that they are bearing fruit. Start-ups in Hong Kong continued to flourish with a record high number of almost 4 700. We had also achieved impressive progress in attracting I&T enterprises and talent from the Mainland and overseas. In two years’ time, we have attracted more than 130 I&T enterprises with high potential and representativeness to set up or expand their businesses in the city. All of them are the best proof of Hong Kong’s attractiveness.      But we are not resting on our laurels. Leveraging the unique advantages we enjoyed under “one country, two systems”, we continue to strengthen our impact as a “super connector” and a “super value-adder” in the international arena through promoting global I&T and industry collaboration.      Ladies and gentlemen, as the Chinese proverb says, “The plan for the year lies in the Spring”. With me tonight are representatives from Hong Kong’s major I&T quangos, including the Hong Kong Science Park, Cyberport, the Hong Kong Applied Science and Technology Research Institute, and the Hong Kong Microelectronics Research and Development Institute, as well as their tech ventures. We are here not only to showcase Hong Kong’s latest I&T offerings in the Mobile World Congress 2025, but also to explore new opportunities and sow the seeds for more win-win I&T co-operation between Hong Kong and Spain, as well as the entire Iberian Peninsula. I am confident that our tech mission to Spain this time will be a fruitful one, just like the future of Hong Kong’s I&T development.      In closing, thank you for my colleagues at the Brussels ETO as well as the Hong Kong Trade Development Council for co-organising this great event. May the Year of the Snake inspire us to shed our old ways of thinking and embrace the agility, wisdom and spirit of innovation that will drive us forward.      Thank you and wish you all an enjoyable evening!

    Ends/Wednesday, March 5, 2025Issued at HKT 9:01

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Strategic Public Policy Research Funding Scheme 2025-26 opens for applications

    Source: Hong Kong Government special administrative region

    Strategic Public Policy Research Funding Scheme 2025-26 opens for applications
    ******************************************************************************

    The Chief Executive’s Policy Unit (CEPU) today (March 5) announced that the Strategic Public Policy Research Funding Scheme (SPPRFS) 2025-26 is open for applications between now and April 23, 2025.      The SPPRFS is aimed at encouraging local think tank experts and scholars (including universities and civil society think tanks) to apply their expertise to conduct evidence-based research on key public policy issues, and to facilitate the knowledge transfer of research findings to policy considerations, serving as a channel for the Government to tap the public policy research expertise of society. In light of the policy priorities of the Government, six strategic themes have been identified for the SPPRFS 2025-26. They are: (a) Development Opportunities from the Guangdong-Hong Kong-Macao Greater Bay Area; (b) New Quality Productive Forces; (c) Integrated Development of Education, Technology and Talents; (d) International Financial, Shipping and Trade Centre; (e) Integrated Development of Culture, Sports and Tourism; and (f) Elderly and Healthcare Services.      Applications for the SPPRFS must be made under one of the above specified strategic themes and be in line with the specified research areas. Those falling outside the specified strategic themes and specified research areas will not be considered generally. Each SPPRFS project may be granted a maximum of HK$5 million and last from one to five years.      Separately, the major themes and indicative research areas of the Public Policy Research Funding Scheme (PPRFS), which is also administered by the CEPU, have been updated having regard to Hong Kong’s current and long-term development as well as the need for research on various social issues. While applications for the SPPRFS are accepted at specific times each year, the PPRFS focuses on research studies of shorter duration and smaller scale with applications accepted throughout the year. Applications for the PPRFS will be vetted, and notifications of the results will be issued by batch.      Assessments for the SPPRFS and PPRFS will be conducted by an Assessment Panel, which comprises experienced academics and professional experts. The Assessment Panel will also take into account comments from external reviewers who are experienced academics and professional experts during the assessment process. To ensure the policy relevance of the research proposals, views of relevant government bureaux/departments will also be sought for reference by the Panel. A declaration of interests system is in place to ensure that the assessments are fair and impartial.      Research quality and relevance to public policy needs are the primary considerations in evaluating research proposals under both Schemes, including the reasonableness of the research proposal, the research team’s capability, the cost-effectiveness of the proposed budget, and whether the research findings can be effectively translated into practicable policy recommendations.      For details of the SPPRFS and PPRFS, including eligibility criteria, research areas, assessment mechanism, application method and other related information, please visit the CEPU’s website (www. cepu.gov.hk/en/PRFS).

    Ends/Wednesday, March 5, 2025Issued at HKT 12:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: DH suspends licence of day procedure centre in Causeway Bay

    Source: Hong Kong Government special administrative region

    DH suspends licence of day procedure centre in Causeway Bay
    ***********************************************************

    In response to media enquiries about the suspension of the licence of a day procedure centre (DPC) in Causeway Bay, a spokesman for the Department of Health (DH) today (March 5) responded as follows:     “Upon receipt of a complaint about a suspected mishandling of medical equipment by a DPC, Dr MD Clinic and Ambulatory Centre located at the World Trade Centre in Causeway Bay, the DH immediately investigated and conducted unannounced inspections. During the inspections, the DPC was found to have contravened the Code of Practice for Day Procedure Centres under the Private Healthcare Facilities Ordinance, namely improper handling and management of an anaesthetic drug, failure to properly sterilise medical equipment, and inadequate staff training and supervision. In addition, the DPC was suspected to have filled in false information in the checking and monitoring of records, including those concerning medical equipment.      The DH has not received any reports of adverse events related to this DPC on the matter so far.           Given the potential risks to patients of the multiple serious breaches of the Code of Practice, and in order to protect the public interest, the DH announced the suspension of the DPC’s licence with immediate effect. The DPC in question will not be allowed to provide any specialised services listed on its licence, including surgical and anaesthetic procedures.           At the same time, the DH has initiated the process for cancellation of the licence for the DPC concerned. Under sections 30 and 31 of the Private Healthcare Facilities Ordinance, the licensee will be given a 14 days’ notice and an opportunity to make representations within 10 days from the date of the notice given to the licensee before the licence is cancelled.           If there is sufficient evidence, the DH will also refer the case to the relevant enforcement or professional regulatory bodies for necessary follow-up action on the suspected use of a false instrument and professional misconduct by the person involved.           The DH reminds those who have undergone anaesthetic procedures, including tumescent anesthesia at the above-mentioned DPC, to seek immediate medical attention if they feel unwell.      The DH will continue to closely monitor licensed private healthcare facilities to protect patient safety.”

    Ends/Wednesday, March 5, 2025Issued at HKT 12:30

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: YieldMax™ ETFs Announces Distributions on FIAT (101.61%), ULTY (82.09%), CONY (79.47%), YMAX (85.55%), YMAG (48.55%) and Others

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, MILWAUKEE and NEW YORK, March 05, 2025 (GLOBE NEWSWIRE) — YieldMax™ today announced distributions for the YieldMax™ Weekly Payers and Group C ETFs listed in the table below.

    ETF Ticker1 ETF Name Distribution Frequency Distribution per Share Distribution Rate2,4 30-Day
    SEC Yield3    		 ROC5 Ex-Date & Record Date Payment Date
    QDTY YieldMax™ Nasdaq 100 0DTE Covered Call ETF Weekly $0.1580 – – 33.90% 3/6/25 3/7/25
    SDTY YieldMax™ S&P 500 0DTE Covered Call ETF Weekly $0.1709 – – 100.00% 3/6/25 3/7/25
    GPTY YieldMax™ AI & Tech Portfolio Option Income ETF Weekly $0.3094 37.80% 0.00% 0.00% 3/6/25 3/7/25
    LFGY YieldMax™ Crypto Industry
    & Tech Portfolio Option Income ETF    		 Weekly $0.4637 61.48% 0.00% 0.00% 3/6/25 3/7/25
    YMAX YieldMax™ Universe
    Fund of Option Income ETFs    		 Weekly $0.2405 85.55% 85.03% 48.89% 3/6/25 3/7/25
    YMAG YieldMax™ Magnificent 7
    Fund of Option Income ETFs    		 Weekly $0.1514 48.55% 61.87% 55.46% 3/6/25 3/7/25
    CONY YieldMax™ COIN Option Income Strategy ETF Every 4 Weeks $0.5989 79.47% 4.56% 94.78% 3/6/25 3/7/25
    FIAT YieldMax™ Short COIN Option Income Strategy ETF Every 4 Weeks $0.6834 101.61% 3.52% 96.91% 3/6/25 3/7/25
    MSFO YieldMax™ MSFT Option Income Strategy ETF Every 4 Weeks $0.2845 22.70% 3.53% 83.81% 3/6/25 3/7/25
    AMDY YieldMax™ AMD Option Income Strategy ETF Every 4 Weeks $0.2533 40.54% 4.02% 92.00% 3/6/25 3/7/25
    NFLY YieldMax™ NFLX Option Income Strategy ETF Every 4 Weeks $0.4008 29.38% 3.23% 0.00% 3/6/25 3/7/25
    ABNY YieldMax™ ABNB Option Income Strategy ETF Every 4 Weeks $0.4805 42.34% 2.98% 92.39% 3/6/25 3/7/25
    PYPY YieldMax™ PYPL Option Income Strategy ETF Every 4 Weeks $0.3773 35.98% 4.20% 90.73% 3/6/25 3/7/25
    ULTY* YieldMax™ Ultra Option Income Strategy ETF Every 4 Weeks $0.4653 82.09% 0.00% 78.20% 3/6/25 3/7/25
    CVNY YieldMax™ CVNA Option Income Strategy ETF Every 4 Weeks $3.9149 – – 96.80% 3/6/25 3/7/25
    Weekly Payers & Group D ETFs scheduled for next week: ULTY QDTY SDTY GPTY LFGY YMAX YMAG MSTY YQQQ AMZY APLY AIYY DISO SQY SMCY
     

    Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling (833) 378-0717.

    Note: DIPS, FIAT, CRSH and YQQQ are hereinafter referred to as the “Short ETFs.”

    Distributions are not guaranteed.   The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

    Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).

    *Starting March 12, 2025, ULTY intends to distribute weekly income to shareholders. The dates for ULTY ’s future distributions will be those set forth in the YieldMax Distribution Schedule.

    1All YieldMax™ ETFs shown in the table above (except YMAX, YMAG, FEAT, FIVY and ULTY) have a gross expense ratio of 0.99%. YMAX, YMAG and FEAT have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. FIVY has a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.59% for a gross expense ratio of 0.88%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax™ ETFs. ULTY has a gross expense ratio after the fee waiver of 1.30%. The Advisor has agreed to a fee waiver of 0.10% through at least February 28, 2026.   
    2The Distribution Rate shown is as of close on March 4, 2025. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.
    3 The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended February 28, 2025, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.
    4 Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.
    5 ROC refers to Return of Capital. The ROC percentage is the portion of the distribution that represents an investor’s original investment.

    Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.

    Standardized Performance

    For YMAX, click here. For YMAG, click here. For TSLY, click here. For OARK, click here. For APLY, click here. For NVDY, click here. For AMZY, click here. For FBY, click here. For GOOY, click here. For NFLY, click here. For CONY, click here. For MSFO, click here. For DISO, click here. For XOMO, click here. For JPMO, click here. For AMDY, click here. For PYPY, click here. For SQY, click here. For MRNY, click here. For AIYY, click here. For MSTY, click here. For ULTY, click here. For YBIT, click here. For CRSH, click here. For GDXY, click here. For SNOY, click here. For ABNY, click here. For FIAT, click here. For DIPS, click here. For BABO, click here. For YQQQ, click here. For TSMY, click here. For SMCY, click here. For PLTY, click here. For BIGY, click here. For SOXY, click here. For MARO, click here. For FEAT, click here. For FIVY, click here. For LFGY, click here. For GPTY, click here. For CVNY, click here. For SDTY, click here. For QDTY, click here.

    Important Information

    This material must be preceded or accompanied by the prospectus. For all prospectuses, click here.

    Tidal Financial Group is the adviser for all YieldMax™ ETFs.

    THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

    Risk Disclosures (applicable to all YieldMax ETFs referenced above, except the Short ETFs)

    YMAX, YMAG, FEAT and FIVY generally invest in other YieldMax™ ETFs. As such, these two Funds are subject to the risks listed in this section, which apply to all the YieldMax™ ETFs they may hold from time to time.

    Investing involves risk. Principal loss is possible.

    Referenced Index Risk. The Fund invests in options contracts that are based on the value of the Index (or the Index ETFs). This subjects the Fund to certain of the same risks as if it owned shares of companies that comprised the Index or an ETF that tracks the Index, even though it does not.

    Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way. Investors in the Fund will not have the right to receive dividends or other distributions or any other rights with respect to the companies that comprise the Index but will be subject to declines in the performance of the Index.

    Russell 2000 Index Risks. The Index, which consists of small-cap U.S. companies, is particularly susceptible to economic changes, as these firms often have less financial resilience than larger companies. Market volatility can disproportionately affect these smaller businesses, leading to significant price swings. Additionally, these companies are often more exposed to specific industry risks and have less diverse revenue streams. They can also be more vulnerable to changes in domestic regulatory or policy environments.

    Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer periods.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security (ARKK, TSLA, AAPL, NVDA, AMZN, META, GOOGL, NFLX, COIN, MSFT, DIS, XOM, JPM, AMD, PYPL, SQ, MRNA, AI, MSTR, Bitcoin ETP, GDX®, SNOW, ABNB, BABA, TSM, SMCI, PLTR, MARA, CVNA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way.

    Risk Disclosures (applicable only to GPTY)

    Artificial Intelligence Risk. Issuers engaged in artificial intelligence typically have high research and capital expenditures and, as a result, their profitability can vary widely, if they are profitable at all. The space in which they are engaged is highly competitive and issuers’ products and services may become obsolete very quickly. These companies are heavily dependent on intellectual property rights and may be adversely affected by loss or impairment of those rights. The issuers are also subject to legal, regulatory and political changes that may have a large impact on their profitability. A failure in an issuer’s product or even questions about the safety of the product could be devastating to the issuer, especially if it is the marquee product of the issuer. It can be difficult to accurately capture what qualifies as an artificial intelligence company.

    Technology Sector Risk. The Fund will invest substantially in companies in the information technology sector, and therefore the performance of the Fund could be negatively impacted by events affecting this sector. Market or economic factors impacting technology companies and companies that rely heavily on technological advances could have a significant effect on the value of the Fund’s investments. The value of stocks of information technology companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition, both domestically and internationally, including competition from foreign competitors with lower production costs. Stocks of information technology companies and companies that rely heavily on technology, especially those of smaller, less-seasoned companies, tend to be more volatile than the overall market. Information technology companies are heavily dependent on patent and intellectual property rights, the loss or impairment of which may adversely affect profitability.

    Risk Disclosure (applicable only to MARO)

    Digital Assets Risk: The Fund does not invest directly in Bitcoin or any other digital assets. The Fund does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. The Fund does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than the Fund. Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility.

    Risk Disclosures (applicable only to BABO and TSMY)

    Currency Risk: Indirect exposure to foreign currencies subjects the Fund to the risk that currencies will decline in value relative to the U.S. dollar. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

    Depositary Receipts Risk: The securities underlying BABO and TSMY are American Depositary Receipts (“ADRs”). Investment in ADRs may be less liquid than the underlying shares in their primary trading market.

    Foreign Market and Trading Risk: The trading markets for many foreign securities are not as active as U.S. markets and may have less governmental regulation and oversight.

    Foreign Securities Risk: Investments in securities of non-U.S. issuers involve certain risks that may not be present with investments in securities of U.S. issuers, such as risk of loss due to foreign currency fluctuations or to political or economic instability, as well as varying regulatory requirements applicable to investments in non-U.S. issuers. There may be less information publicly available about a non-U.S. issuer than a U.S. issuer. Non-U.S. issuers may also be subject to different regulatory, accounting, auditing, financial reporting and investor protection standards than U.S. issuers.

    Risk Disclosures (applicable only to GDXY)

    Risk of Investing in Foreign Securities. The Fund is exposed indirectly to the securities of foreign issuers selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities.

    Risk of Investing in Gold and Silver Mining Companies. The Fund is exposed indirectly to gold and silver mining companies selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies.

    The Fund invests in options contracts based on the value of the VanEck Gold Miners ETF (GDX®), which subjects the Fund to some of the same risks as if it owned GDX®, as well as the risks associated with Canadian, Australian and Emerging Market Issuers, and Small-and Medium-Capitalization companies.

    Risk Disclosures (applicable only to YBIT)

    YBIT does not invest directly in Bitcoin or any other digital assets. YBIT does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. YBIT does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than YBIT.

    Bitcoin Investment Risk: The Fund’s indirect investment in Bitcoin, through holdings in one or more Underlying ETPs, exposes it to the unique risks of this emerging innovation. Bitcoin’s price is highly volatile, and its market is influenced by the changing Bitcoin network, fluctuating acceptance levels, and unpredictable usage trends.

    Digital Assets Risk: Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility. Potentially No 1940 Act Protections. As of the date of this Prospectus, there is only a single eligible Underlying ETP, and it is an investment company subject to the 1940 Act.

    Bitcoin ETP Risk: The Fund invests in options contracts that are based on the value of the Bitcoin ETP. This subjects the Fund to certain of the same risks as if it owned shares of the Bitcoin ETP, even though it does not. Bitcoin ETPs are subject, but not limited, to significant risk and heightened volatility. An investor in a Bitcoin ETP may lose their entire investment. Bitcoin ETPs are not suitable for all investors. In addition, not all Bitcoin ETPs are registered under the Investment Company Act of 1940. Those Bitcoin ETPs that are not registered under such statute are therefore not subject to the same regulations as exchange traded products that are so registered.

    Risk Disclosures (applicable only to the Short ETFs)

    Investing involves risk. Principal loss is possible.

    Price Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the value of the underlying reference asset. This strategy subjects the Fund to certain of the same risks as if it shorted the underlying reference asset, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the value of the underlying reference asset, the Fund is subject to the risk that the value of the underlying reference asset increases. If the value of the underlying reference asset increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses.

    Put Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s put writing (selling) strategy will impact the extent that the Fund participates in decreases in the value of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold put options and over longer periods.

    Purchased OTM Call Options Risk. The Fund’s strategy is subject to potential losses if the underlying reference asset increases in value, which may not be offset by the purchase of out-of-the-money (OTM) call options. The Fund purchases OTM calls to seek to manage (cap) the Fund’s potential losses from the Fund’s short exposure to the underlying reference asset if it appreciates significantly in value. However, the OTM call options will cap the Fund’s losses only to the extent that the value of the underlying reference asset increases to a level that is at or above the strike level of the purchased OTM call options. Any increase in the value of the underlying reference asset to a level that is below the strike level of the purchased OTM call options will result in a corresponding loss for the Fund. For example, if the OTM call options have a strike level that is approximately 100% above the then-current value of the underlying reference asset at the time of the call option purchase, and the value of the underlying reference asset increases by at least 100% during the term of the purchased OTM call options, the Fund will lose all its value. Since the Fund bears the costs of purchasing the OTM calls, such costs will decrease the Fund’s value and/or any income otherwise generated by the Fund’s investment strategy.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying reference asset, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will participate in decreases in value experienced by the underlying reference asset over the Put Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, for any Fund that focuses on an individual security (e.g., TSLA, COIN, NVDA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Risk Disclosures (applicable only to YQQQ)

    Index Overview. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization.

    Index Level Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the Index level. This strategy subjects the Fund to certain of the same risks as if it shorted the Index, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the Index level, the Fund is subject to the risk that the Index level increases. If the Index level increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: innovation and technological advancement; strong market presence of Index constituent companies; adaptability to global market trends; and resilience and recovery potential.

    Index Level Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will benefit from decreases in the Index level experienced over the Put Period. This means that if the Index level experiences a decrease in value below the strike level of the sold put options during a Put Period, the Fund will likely not experience that increase to the same extent and any Fund gains may significantly differ from the level of the Index losses over the Put Period. Additionally, because the Fund is limited in the degree to which it will participate in decreases in value experienced by the Index level over each Put Period, but has significant negative exposure to any increases in value experienced by the Index level over the Put Period, the NAV of the Fund may decrease over any given period. The Fund’s NAV is dependent on the value of each options portfolio, which is based principally upon the inverse of the performance of the Index level. The Fund’s ability to benefit from the Index level decreases will depend on prevailing market conditions, especially market volatility, at the time the Fund enters into the sold put option contracts and will vary from Put Period to Put Period. The value of the options contracts is affected by changes in the value and dividend rates of component companies that comprise the Index, changes in interest rates, changes in the actual or perceived volatility of the Index and the remaining time to the options’ expiration, as well as trading conditions in the options market. As the Index level changes and time moves towards the expiration of each Put Period, the value of the options contracts, and therefore the Fund’s NAV, will change. However, it is not expected for the Fund’s NAV to directly inversely correlate on a day-to-day basis with the returns of the Index level. The amount of time remaining until the options contract’s expiration date affects the impact that the value of the options contracts has on the Fund’s NAV, which may not be in full effect until the expiration date of the Fund’s options contracts. Therefore, while changes in the Index level will result in changes to the Fund’s NAV, the Fund generally anticipates that the rate of change in the Fund’s NAV will be different than the inverse of the changes experienced by the Index level.

    YieldMax™ ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, or YieldMax™ ETFs.

    © 2025 YieldMax™ ETFs

    The MIL Network –

  • MIL-OSI: NuVista Energy Ltd. Announces Record Year End 2024 Reserves, Financial and Operating Results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, March 05, 2025 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company“) (TSX: NVA) is pleased to announce record-setting reserves and strong financial and operating results for the three months and year ended December 31, 2024. The repeatable, predictable and profitable nature of our assets have once again underpinned significant growth in our reserves. Continued success in the Lower Montney and sanctioning of our Gold Creek area expansion have set the stage for continued growth toward 125,000 Boe/d. We are entering 2025 in a strong financial position with operational momentum and a commitment to shareholder returns. We are pleased to reaffirm our annual capital and production guidance for the year.

    Operational and Financial Highlights

    During the fourth quarter and year ended December 31, 2024, NuVista:

    • Produced an average of 85,635 Boe/d in the fourth quarter, exceeding our guidance range of 83,000 – 84,000 Boe/d. We achieved our highest-ever annual average production of 83,084 Boe/d, an 8% increase from 2023. Annual production composition aligned with guidance, with a volume weighting of 30% condensate, 9% NGLs and 61% natural gas;
    • Successfully executed a capital expenditure(2) program, investing $498.9 million in well and facility activities, including the drilling of 43 wells and the completion of 38 wells throughout the year. Fourth quarter, capital expenditures totaled $71.1 million, with 9 wells drilled;
    • Delivered annual adjusted funds flow(1) of $552.2 million ($2.68/share, basic(3)), with adjusted funds flow from the fourth quarter contributing $137.1 million ($0.67/share, basic);
    • Generated free adjusted funds flow(2) of $39.6 million for the year ($0.19/share, basic(3));
    • Repurchased and cancelled 5.9 million common shares in 2024 at an average price of $12.52 per common share, for a total cost of $74.4 million. Since the inception of the Company’s normal course issuer bid (“NCIB”) in 2022, we have repurchased and cancelled 36.5 million common shares for an aggregate cost of $438.3 million or $12.01 per share;
    • Exited the year with $5.4 million drawn on our $450 million credit facility and net debt(1) of $232.5 million, maintaining a favorable net debt to annualized fourth quarter adjusted funds flow(1) ratio of 0.4x;
    • Achieved annual net earnings of $305.7 million ($1.48/share, basic), including $99.2 million ($0.48/share, basic) in the fourth quarter;
    • Added LNG sales to our natural gas diversification portfolio by gaining exposure to the Japan/Korea marker (“JKM”) through a netback agreement with Trafigura based on 21,000 MMbtu/d of LNG for a period of up to thirteen years commencing January 1, 2027; and
    • Recognized as part of the TSX30 for the third consecutive year. The TSX30 recognizes the thirty top-performing companies on the Toronto Stock Exchange (“TSX”) over the prior three-year period (see www.tsx.com/tsx30). We ranked a notable sixth place overall.

    Notes:

    (1) Each of “adjusted funds flow”, “net debt” and “net debt to annualized fourth quarter adjusted funds flow” are capital management measures. Reference should be made to the section entitled “Non-GAAP and Other Financial Measures” in this press release.
    (2) Each of “free adjusted funds flow” and “capital expenditures” are non-GAAP financial measures that do not have any standardized meanings under IFRS Accounting Standards and therefore may not be comparable to similar measures presented by other companies where similar terminology is used. Reference should be made to the section entitled “Non-GAAP and Other Financial Measures” in this press release.
    (3) Each of “adjusted funds flow per share” and “free adjusted funds flow per share” are supplementary financial measures. Reference should be made to the section entitled “Non-GAAP and Other Financial Measures” in this press release.
       

    Significant Profitable and Repeatable Reserves Growth

    NuVista is pleased to announce the results of our year end 2024 independent reserves evaluation conducted by GLJ Ltd. (“GLJ”) effective as at December 31, 2024 (the “GLJ Report”). NuVista’s proven track record of continuous improvement, along with the substantial depth and quality of our undeveloped resources, reinforces our ability to deliver sustained shareholder returns in our journey to 125,000 Boe/d.

    Our GLJ Report includes the following key accomplishments:

    • Reported Proved Developed Producing (“PDP”) reserves of 177.3 MMBoe, a year-over-year increase of 9%, or a 12% increase on a per share basis, driven by a successful 2024 development program and 2% positive technical revisions due to new well outperformance;
    • Recorded Total Proved plus Probable (“TP+PA”) reserves of 779.7 MMBoe, a year-over-year increase of 21%, or a 24% increase on a per share basis, attributed to the continued success in NuVista’s multi-layer Montney development in Pipestone and successful Lower and Upper Montney delineation in Wapiti;
    • Replaced 150% and 550% of 2024 production on a PDP and TP+PA basis(1), respectively, reflecting the success of our 2024 capital program and continued expansion of our undeveloped location inventory;
    • Delivered PDP Finding, Development and Acquisition Cost (“FD&A”)(1) of $11.13/Boe that exceeded our expectations due to well outperformance and cost reductions;
    • Achieved a PDP recycle ratio(1) of 1.8x based on our 2024 operating netback(1);
    • TP+PA FD&A was $6.97/Boe, driven by the planned expansion of our infrastructure to 125,000 Boe/d and a 26% increase in undeveloped TP+PA drilling locations;
    • Total developed wells increased by 42 to 395, while the total undeveloped drilling locations increased by 9 to 1,189, which reflects over 25 years of development at the current pace(3); and
    • PDP, TP, and TP+PA before-tax net present value, discounted at 10% (NPV10)(2), are $10.01, $20.56, and $30.11 per share, respectively, at December 31, 2024, reflecting the underlying value of our assets.

    Notes:

    (1) Each of “reserve replacement”, “FD&A costs”, “recycle ratio” and “operating netback” are non-GAAP financial ratios. See “Oil and Gas Advisories” and “Non-GAAP and Other Financial Measures” in this press release for information relating to these specified financial measures.
    (2) Reference to “net present value per share” is a supplementary financial measure. Reference should be made to the section entitled “Non-GAAP and Other Financial Measures” in this press release.
    (3) Total undeveloped locations include 422 undeveloped proved plus probable drilling locations and 767 undeveloped contingent resource drilling locations. See “Oil and Gas Advisories”.
       

    The detailed summary of our year end 2024 reserves disclosure and other oil and gas information is included below, and further information will be included in our Annual Information Form which will be filed on or before March 28, 2025 on SEDAR+ at www.sedarplus.ca.

    Return of Capital to Shareholders and Balance Sheet Strength

    NuVista’s approach to capital allocation is focused on the compounding effect of absolute growth and a reduction in our outstanding common shares to produce industry leading total returns. We intend to allocate a minimum of $100 million in 2025, to the repurchase of the Company’s common shares pursuant to our NCIB and will allocate at least 75% of any incremental free adjusted funds flow towards additional share repurchases.

    We ended the year in a position of low debt and significant financial flexibility. As at December 31, 2024, our net debt was $232.5 million, well below our soft ceiling of approximately $350 million. We were minimally drawn on our $450 million covenant-based credit facility, at $5.4 million, with a net debt to annualized fourth quarter adjusted funds flow ratio of 0.4x. The net debt soft ceiling ensures that based on current production levels, our net debt to adjusted funds flow ratio remains at or below 1.0x in a stress test price environment of US$45/Bbl WTI and US$2.00/MMBtu NYMEX.

    We remain focused on our disciplined and value-adding growth strategy, and providing significant shareholder returns. We continue to view share repurchases as the most effective initial method of returning capital to shareholders and will reassess this approach as our growth plan progresses.

    Operations and 2025 Guidance

    Operations through the end of the year and into the first quarter of 2025 have progressed well. Consistent utilization of our two drilling rigs continues to pay dividends with new spud to rig release records being set. Completion operations kicked off again in January and despite extremely frigid temperatures, pumping efficiency has come in better than planned. With strong execution thus far in 2025 capital costs are trending below budget and we are forecasting a well cost reduction of 3% year-over-year.

    In Wapiti, we brought on a 5-well pad in Bilbo in January, which targeted three benches, including a Lower Montney, initial results from the pad are encouraging and in-line with expectations. We have finished drilling a 5-well pad in Elmworth, which is slated to come on-stream during the second quarter. In Gold Creek we are drilling a 4-well pad, including two Lower Montney wells, which is expected to come on-stream later in the second quarter. Notably, the 6-well pad between Gold Creek and Elmworth, which was co-developed across the entire stack of 4 zones, has reached its IP90 milestone producing on average 1,500 Boe/d per well, including 33% condensate. Importantly, the Lower Montney has performed in-line with the other benches. In Pipestone, we are completing a 14-well pad that is expected to come on-stream in the second quarter. Additionally, we are drilling an 8-well pad that is expected to come on-stream in the third quarter.

    Production in January and February has been trending favorably, we forecast first quarter production to average 87,000 – 88,000 Boe/d. As exhibited above we have material production additions slated to come on-line in the coming months. As previously communicated, the majority of our 2025 growth will come from the Pipestone area with the start-up of a third-party gas plant (“Pipestone Plant”), which is expected to be online during the second quarter. The Pipestone Plant will unlock approximately 8,000 – 10,000 Boe/d of additional productive capacity for NuVista. Given the performance of our base assets and current outlook, we anticipate our annual production to average approximately 92,000 Boe/d, assuming a second quarter start-up of the Pipestone Plant. If this start-up is delayed into the fourth quarter of the year, our expected annual average production will be approximately 88,000 Boe/d. Consequently, this range allows us to reiterate our annual production guidance of approximately 90,000 Boe/d.

    Further we reaffirm our annual capital expenditure guidance target of approximately $450 million, which will allow us to continue to prioritize at least a triple-digit return of capital to shareholders through the repurchase of our outstanding common shares.

    We are fortunate that our business has the flexibility, superior asset quality and underlying balance sheet strength to afford this. We intend to continue our track record of carefully directing free adjusted funds flow towards a prudent balance of capital return to shareholders and debt reduction, while investing in high return growth projects. NuVista’s top quality asset base, deep inventory, and management’s relentless focus on value maximization supports our medium-term plans for value-adding growth to the plateau level of 125,000 Boe/d. We will continue to closely monitor and adjust to the environment to maximize the value of our asset base and ensure the long-term sustainability of our business. We would like to thank our staff, contractors, and suppliers for their continued dedication and delivery, and we thank our Board of Directors and our shareholders for their continued guidance and support.

    The 2025 guidance does not include any potential impact of tariffs or trade-related regulations that have been announced by the U.S. and Canada, including the tariffs imposed by the U.S. on Canada effective March 4, 2025. See “Advisory regarding forward-looking information and statements”. Please note that our corporate presentation will be available at www.nuvistaenergy.com on March 5, 2025. NuVista’s audited financial statements, notes to the financial statements and management’s discussion and analysis for the year ended December 31, 2024, will be filed on SEDAR+ (www.sedarplus.ca) on March 5, 2025 and can also be obtained at www.nuvistaenergy.com.

                             
    FINANCIAL AND OPERATING HIGHLIGHTS
      Three months ended December 31 Year ended December 31
    ($ thousands, except otherwise stated) 2024 2023 % Change 2024 2023 % Change
    FINANCIAL            
    Petroleum and natural gas revenues 281,454   365,497   (23 ) 1,215,234   1,398,097   (13 )
    Cash provided by operating activities 135,831   211,761   (36 ) 600,253   721,342   (17 )
    Adjusted funds flow (3)(7) 137,059   201,987   (32 ) 552,196   756,943   (27 )
    Per share, basic (6) 0.67   0.95   (29 ) 2.68   3.50   (23 )
    Per share, diluted (6) 0.66   0.93   (29 ) 2.64   3.40   (22 )
    Net earnings 99,152   89,513   11   305,718   367,678   (17 )
    Per share, basic 0.48   0.42   14   1.48   1.70   (13 )
    Per share, diluted 0.48   0.41   17   1.46   1.65   (12 )
    Total assets       3,450,419   3,058,053   13  
    Net capital expenditures (1) 71,090   113,258   (37 ) 498,876   518,294   (4 )
    Net debt (3)       232,503   183,551   27  
    OPERATING            
    Daily Production            
    Natural gas (MMcf/d) 327.1   310.5   5   304.3   276.0   10  
    Condensate (Bbls/d) 22,657   26,889   (16 ) 24,709   24,633   —  
    NGLs (Bbls/d) 8,455   7,287   16   7,661   6,545   17  
    Total (Boe/d) 85,635   85,924   —   83,084   77,185   8  
    Condensate & NGLs weighting 36 % 40 %   39 % 40 %  
    Condensate weighting (8) 26 % 31 %   30 % 32 %  
    Average realized selling prices (5)            
    Natural gas ($/Mcf) 2.78   3.45   (19 ) 2.51   4.19   (40 )
    Condensate ($/Bbl) 83.58   99.20   (16 ) 94.83   100.02   (5 )
    NGLs ($/Bbl) (4) 30.38   32.46   (6 ) 27.86   31.80   (12 )
    Netbacks ($/Boe)            
    Petroleum and natural gas revenues (7) 35.72   46.24   (23 ) 39.96   49.62   (19 )
    Realized gain on financial derivatives 1.75   0.46   280   0.86   0.41   110  
    Other income 0.01   —   —   0.11   —   —  
    Royalties (7) (3.13 ) (4.50 ) (30 ) (4.30 ) (4.80 ) (10 )
    Transportation expense (4.57 ) (4.54 ) 1   (4.78 ) (4.77 ) —  
    Net operating expense (2) (11.07 ) (10.65 ) 4   (11.37 ) (11.40 ) —  
    Operating netback (2) 18.71   27.01   (31 ) 20.48   29.06   (30 )
    Corporate netback (2) 17.40   25.55   (32 ) 18.15   26.86   (32 )
    SHARE TRADING STATISTICS            
    High ($/share) 14.18   13.72   3   14.86   13.72   8  
    Low ($/share) 10.34   10.40   (1 ) 9.59   9.93   (3 )
    Close ($/share) 13.82   11.04   25   13.82   11.04   25  
    Common shares outstanding (thousands of shares)       203,701   207,584   (2 )
                       

    NOTES:

    (1) Non-GAAP financial measure that does not have any standardized meaning under IFRS Accounting Standards and therefore may not be comparable to similar measures presented by other companies where similar terminology is used. Reference should be made to the section entitled “Specified Financial Measures”.
    (2) Non-GAAP ratio that does not have any standardized meaning under IFRS Accounting Standards and therefore may not be comparable to similar measures presented by other companies where similar terminology is used. Reference should be made to the section entitled “Specified Financial Measures”.
    (3) Capital management measure. Reference should be made to the section entitled “Specified Financial Measures”.
    (4) Natural gas liquids (“NGLs”) includes butane, propane and ethane revenue and sales volumes, and sulphur revenue.
    (5) Product prices exclude realized gains/losses on financial derivatives.
    (6) Supplementary financial measure. Reference should be made to the section entitled “Specified Financial Measures”.
    (7) Includes the impact of a facility allocation adjustment, which impacted condensate revenues, royalties and transportation expense, reducing adjusted funds flow by $23.1 million for the three months and year ended December 31, 2024.
    (8) Includes the impact of a facility allocation adjustment. Excluding this adjustment, NuVista’s condensate weighting for the three months ended December 31, 2024 was 28%.
       

    DETAILED SUMMARY OF CORPORATE RESERVES DATA

    The following table provides summary reserve information based upon the GLJ Report using the published 3 Consultants’ Average January 1, 2025 price forecast:

      Natural Gas(2)   Natural Gas
    Liquids(4)    		   Oil(3)   Total  
    Reserves category(1)(5) Company
    Gross    		   Company
    Gross    		   Company
    Gross    		   Company
    Gross    		  
      (MMcf)   (MBbls)   (MBbls)   (MBoe)  
    Proved                
    Developed producing 680,168   63,913   –   177,275  
    Developed non‑producing 93,825   10,140   –   25,777  
    Undeveloped 938,058   86,693   –   243,036  
    Total proved 1,712,051   160,747   –   446,088  
    Total probable 1,313,477   114,729   –   333,642  
    Total proved plus probable 3,025,528   275,475   –   779,730  
                     

    NOTES:

    (1) Numbers may not add due to rounding.
    (2) Includes conventional natural gas and shale gas.
    (3) Includes light and medium crude oil.
    (4) NGLs includes ethane, propane, butane, condensate and pentane plus.
    (5) Reserves have been presented on gross basis which are the Company’s total working interest share before the deduction of any royalties and without including any royalty interests of the Company.
       

    The following table is a summary reconciliation of the year end working interest reserves for 2024, with the year end working interest reserves for 2023:

    Company Gross Natural Gas(1)(3)
    (MMcf)    		 Natural Gas
    Liquids(1)(5)
    (MBbls)    		 Oil(1)(4)
    (MBbls)    		 Total Oil Equivalent(1)
    (MBoe)
    Total proved        
    Balance, December 31, 2023 1,546,471   144,132   –   401,877  
    Exploration and development(2) 234,672   24,335   –   63,447  
    Technical revisions 30,118   2,912   11   7,942  
    Acquisitions 18,123   1,720   –   4,741  
    Dispositions (156 ) (18 ) –   (44 )
    Economic Factors (5,809 ) (498 ) –   (1,466 )
    Production (111,368 ) (11,837 ) (11 ) (30,409 )
    Balance, December 31, 2024 1,712,051   160,747   –   446,088  
    Total proved plus probable        
    Balance, December 31, 2023 2,505,894   225,374   –   643,023  
    Exploration and development(2) 597,808   57,452   –   157,087  
    Technical revisions 12,434   2,496   11   4,579  
    Acquisitions 22,817   2,161   –   5,964  
    Dispositions (201 ) (22 ) –   (56 )
    Economic Factors (1,857 ) (148 ) –   (458 )
    Production (111,368 ) (11,837 ) (11 ) (30,409 )
    Balance, December 31, 2024 3,025,528   275,475   –   779,730  

    NOTES:

    (1) Numbers may not add due to rounding.
    (2) Reserve additions for drilling extensions, infill drilling and improved recovery.
    (3) Includes conventional natural gas and shale gas.
    (4) Includes light and medium crude oil.
    (5) NGLs includes ethane, propane, butane, condensate and pentane plus.
       

    The following table summarizes the future development capital required to bring undeveloped reserves and proved plus probable undeveloped reserves on production:

    ($ thousands, undiscounted) Proved
    Producing(1)    		 Proved(1) Proved plus
    Probable(1)    		  
    2025 10,000   270,190   283,615  
    2026 –   441,337   441,337  
    2027 –   378,915   378,915  
    2028 –   582,820   623,529  
    2029 –   210,425   385,690  
    Remaining –   –   1,205,057  
    Total (undiscounted) 10,000   1,883,686   3,318,141  
                 

    NOTE:

    (1) Numbers may not add due to rounding.
       

    The following table outlines NuVista’s corporate finding, development and acquisition (“FD&A”) costs in more detail:

      3 Year-Average (1)   2024 (1)   2023 (1)  
        Proved plus       Proved plus       Proved plus  
      Proved   probable   Proved   probable   Proved   probable  
    Finding and development costs ($/Boe) $ 10.06   $ 8.69   $ 9.28   $ 7.18   $ 10.92   $ 12.59  
    Finding, development and acquisition costs ($/Boe) $ 9.95   $ 8.60   $ 8.79   $ 6.97   $ 11.12   $ 12.86  
                                         

    NOTE:

    (1) F&D costs and FD&A are used as a measure of capital efficiency. The calculation for F&D costs includes all exploration and development capital for that period as outlined in the Company’s year-end financial statements plus the change in future development capital for that period. This total capital including the change in the future development capital is then divided by the change in reserves for that period including revisions for that same period. The aggregate of the exploration and development costs incurred in the most recent financial year and the change during the year in estimated future development costs generally will not reflect total finding and development costs related to reserve additions for the year. FD&A costs are calculated in the same manner except in addition to exploration and development capital and the change in future development capital, acquisition capital (net of any disposition proceeds) is also included in the calculation.
       

    Summary of Corporate Net Present Value Data of Future Net Revenue

    The estimated net present values of future net revenue before income taxes associated with NuVista’s reserves effective December 31, 2024 and based on the published 3 Consultants’ Average price forecast as at January 1, 2025 as set forth below, are summarized in the following table:

      Before Income Taxes
      Discount Factor (%/year)
    Reserves category (1)(2) ($ thousands) 0%   5%   10%   15%   20%  
    Proved          
    Developed producing 3,311,450   2,531,022   2,038,337   1,715,462   1,491,640  
    Developed non‑producing 589,610   437,020   350,631   295,990   258,256  
    Undeveloped 4,450,580   2,705,801   1,798,236   1,270,234   934,810  
    Total proved 8,351,651   5,673,843   4,187,204   3,281,686   2,684,706  
    Probable 7,457,152   3,482,560   1,946,864   1,232,453   849,096  
    Total proved plus probable 15,808,803   9,156,404   6,134,068   4,514,138   3,533,801  
                         

    NOTES:

    (1) Numbers may not add due to rounding.
    (2) All future net revenues are stated prior to the provision for interest income and other general and administrative expenses and after deduction of royalties, operating costs, estimated well and facility abandonment and reclamation costs and estimated future capital expenditures.
    (3) The estimated future net revenue contained in this press release does not necessarily represent the fair market value of the reserves.
       

    The following table is a summary of pricing and inflation rate assumptions based on published 3 Consultants’ Average forecast prices and costs as at January 1, 2025:

    Year   AECO Gas
    ($Cdn/
    MMBtu)    		   NYMEX
    Gas
    ($US/
    MMBtu)    		   Midwest
    Gas at
    Chicago
    ($US/
    MMBtu)    		   Edmonton
    C5+
    ($Cdn/Bbl)    		   Edmonton
    Propane
    ($Cdn/Bbl)    		   Edmonton
    Butane
    ($Cdn/Bbl)    		   WTI
    Cushing
    Oklahoma
    ($US/Bbl)    		   Edmonton
    Par Price
    40 API
    ($Cdn/Bbl)    		   Exchange
    Rate(2)
    ($US/$Cdn)    		  
    Forecast                                      
    2025   2.36   3.31   3.05   100.14   33.56   51.15   71.58   94.79   0.712  
    2026   3.33   3.73   3.53   100.72   32.78   49.98   74.48   97.04   0.728  
    2027   3.48   3.85   3.66   100.24   32.81   50.16   75.81   97.37   0.743  
    2028   3.69   3.93   3.73   102.73   33.63   51.41   77.66   99.80   0.743  
    2029   3.76   4.01   3.82   104.79   34.30   52.44   79.22   101.79   0.743  
    2030   3.83   4.09   3.89   106.86   34.99   53.49   80.80   103.83   0.743  
    2031   3.91   4.17   3.97   109.00   35.69   54.56   82.42   105.91   0.743  
    2032   3.99   4.26   4.05   111.19   36.40   55.65   84.06   108.02   0.743  
    2033   4.07   4.34   4.13   113.41   37.13   56.76   85.75   110.19   0.743  
    2034   4.15   4.43   4.21   115.69   37.87   57.90   87.46   112.39   0.743  
    2035   4.24   4.52   4.30   118.01   38.63   59.05   89.21   114.64   0.743  
    2036   4.32   4.61   4.39   120.37   39.40   60.24   90.99   116.93   0.743  
    2037   4.41   4.70   4.48   122.77   40.19   61.44   92.82   119.27   0.743  
    2038   4.49   4.79   4.56   125.23   41.00   62.67   94.67   121.65   0.743  
    2039   4.58   4.89   4.65   127.73   41.82   63.92   96.57   124.09   0.743  
    2040+   +2.0%/yr   +2.0%/yr   +2.0%/yr   +2.0%/yr   +2.0%/yr   +2.0%/yr   +2.0%/yr   +2.0%/yr   0.743  
                                           

    NOTES:

    (1) Costs were not inflated in 2025 and inflated at 2% per annum thereafter.
    (2) Exchange rate used to generate the benchmark reference prices in this table.
    (3) NuVista’s future realized gas prices are forecasted based on a combination of various benchmark prices in addition to the AECO benchmark in order to reflect the favorable price diversification to other markets which NuVista has undertaken. Pricing at these markets has been accounted for in the GLJ Report. Additional information on NuVista’s gas marketing diversification will be available in our corporate presentation.
       

    Advisories Regarding Oil and Gas Information

    The reserve data provided in this press release presents only a portion of the disclosure required under National Instrument 51-101. All required information will be contained in the Company’s Annual Information Form for the year ended December 31, 2024, on SEDAR+ (www.sedarplus.ca).

    There are numerous uncertainties inherent in estimating quantities of crude oil, natural gas and NGL reserves and the future cash flows attributed to such reserves. The reserve and associated cash flow information set forth above are estimates only. In general, estimates of economically recoverable crude oil, natural gas and NGL reserves and the future net cash flows therefrom are based upon a number of variable factors and assumptions, such as historical production from the properties, production rates, ultimate reserve recovery, timing and amount of capital expenditures, marketability of oil and natural gas, royalty rates, the assumed effects of regulation by governmental agencies and future operating costs, all of which may vary materially. For these reasons, estimates of the economically recoverable crude oil, NGL and natural gas reserves attributable to any particular group of properties, classification of such reserves based on risk of recovery and estimates of future net revenues associated with reserves prepared by different engineers, or by the same engineers at different times, may vary. The Company’s actual production, revenues, taxes and development and operating expenditures with respect to its reserves will vary from estimates thereof and such variations could be material.

    BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

    This press release contains a number of oil and gas metrics prepared by management, including F&D costs, FD&A costs, PDP per share, TP+PA per share, recycle ratio, operating netback, corporate netback and reserves replacement costs, which do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies. Such metrics have been included herein to provide readers with additional measures to evaluate NuVista’s performance on a comparable basis with prior periods; however, such measures are not reliable indicators of the future performance of NuVista, and future performance may not compare to the performance in previous periods. Details of how F&D costs, FD&A costs, operating netback, corporate netback and recycle ratios are calculated are set forth under the heading “Non-GAAP and Other Financial Measures – Non-GAAP Ratios”. Reserves replacement is calculated as the reserves category divided by estimated production.

    Any references in this press release to initial production rates are useful in confirming the presence of hydrocarbons, however, such rates are not determinative of the rates at which such wells will continue production and decline thereafter. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production for NuVista.

    Any reference to capital efficiency has been prepared by management and is used to measure performance. NuVista calculates capital efficiency as the sum of the capital expenditures divided by average first year production rate for the applicable well(s). This term does not have a standardized meaning or standard calculation and is not comparable to similar measures used by other entities.

    This press release discloses NuVista’s potential drilling locations in two categories: (i) undeveloped proved plus probable (TP+PA) drilling locations; and (ii) undeveloped contingent resources (2C) drilling locations. Undeveloped TP+PA drilling locations are derived the GLJ Report, and account for undeveloped drilling locations that have associated proved and/or probable reserves, as applicable. Undeveloped 2C drilling locations are derived from a report prepared by GLJ evaluating NuVista’s contingent resources as of December 31, 2024 (“GLJ Contingent Resource Report”), and account for undeveloped drilling locations that have associated contingent resources based on a best estimate of such contingent resources. There is no certainty that we will drill all drilling locations and if drilled, there is no certainty that such locations will result in additional oil and gas production. The drilling locations on which we actually drill wells will ultimately depend upon the availability of capital, regulatory approvals, seasonal restrictions, oil and natural gas prices, costs, actual drilling results, additional reservoir information that is obtained and other factors. Contingent resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. Economic contingent resources are those contingent resources that are currently economically recoverable. The sub-classes included under economic contingent resources are Development Pending CR, Development on Hold CR, and Development Unclarified CR. Development Pending are resources where resolution of the final conditions for development is being actively pursued (high chance of development). Development on Hold are resources where there is a reasonable chance of development but there are major non-technical contingencies to be resolved that are usually beyond the control of the operator. Development Unclarified are resources where the evaluation is incomplete and there is ongoing activity to resolve any risks or uncertainties. Development Not Viable are resources that are not viable in the conditions prevailing at the effective date of the evaluation, and where no further data acquisition or evaluation is currently planned and hence there is a low chance of development. In the case of the contingent resources estimated in the GLJ Contingent Resource Report, contingencies include: (i) further delineation of interest lands; (ii) corporate commitment, and; (iii) final development plan. To further delineate interest lands additional wells must be drilled and tested to demonstrate commercial rates on the resource lands. Reserves are only assigned in close proximity to demonstrated productivity. As continued delineation drilling occurs, a portion of the contingent resources are expected to be reclassified as reserves. Confirmation of corporate intent to proceed with remaining capital expenditures within a reasonable timeframe is a requirement for the assessment of reserves. Finalization of a development plan includes timing, infrastructure spending and the commitment of capital.

    Definitions of Oil and Gas Reserves

    Reserves are estimated remaining quantities of crude oil and natural gas and related substances anticipated to be recoverable from known accumulations, as of a given date, based on the analysis of drilling, geological, geophysical, and engineering data; the use of established technology; and specified economic conditions, which are generally accepted as being reasonable. Reserves are classified according to the degree of certainty associated with the estimates as follows:

    Proved Reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves.

    Probable Reserves are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remaining quantities recovered will be greater or less than the sum of the estimated proved plus probable reserves.

    PDP or Proved Developed Producing Reserves are those reserves that are expected to be recovered from completion intervals open at the time of the estimate. These reserves may be currently producing or, if shut-in, they must have previously been on production, and the date of resumption of production must be known with reasonable certainty.

    Basis of presentation

    Unless otherwise noted, the financial data presented in this press release has been prepared in accordance with Canadian generally accepted accounting principles (“GAAP”) also known as International Financial Reporting Standards (“IFRS”).

    Natural gas liquids are defined by National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities” to include ethane, butane, propane, pentanes plus and condensate. Unless explicitly stated in this press release, references to “NGL” refers only to ethane, butane and propane and references to “condensate” refers to only to condensate and pentanes plus. NuVista has disclosed condensate and pentanes plus values separately from ethane, butane and propane values as NuVista believes it provides a more accurate description of NuVista’s operations and results therefrom.

    Production split for Boe/d amounts referenced in the press release are as follows:

    Reference Total Boe/d
    		 Natural Gas
    %    		 Condensate
    %    		 NGLs
    %
               
    Q4 2024 production – actual 85,635   64 % 26 % 10 %
    Q4 2024 production – guidance 83,000 – 84,000   61 % 30 % 9 %
    2024 annual production – actual 83,084   61 % 30 % 9 %
    2024 annual production – guidance 83,500 – 86,000   61 % 30 % 9 %
    Q1 2025 production – guidance 87,000 – 88,000   63 % 28 % 9 %
    2025 annual production – guidance ~90,000   61 % 30 % 9 %
                     

    Reserves advisories

    The GLJ Report was prepared in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities and the Canadian Oil and Gas Evaluation Handbook (“COGE Handbook”) and is dated effective as of December 31, 2024. The GLJ Report was based on 3 Consultants’ Average January 1, 2025 forecast pricing and foreign exchange rates at January 1, 2025. All reserves information has been presented on a gross basis, which is the Company’s working interest share before deduction of royalties and without including any royalty interests of the Company. The reserves have been categorized accordance with the reserves definitions as set out in the COGE Handbook. The recovery and reserve estimates contained herein are estimates only and there is no guarantee that the estimated reserves will be recovered. Also, estimates of reserves and future net revenue for individual properties may not reflect the same confidence level as estimates and future net revenue for all properties due to the effect of aggregation. All required reserve information for the Company will be contained in its Annual Information Form for the year ended December 31, 2024, which will be accessible at www.sedarplus.ca.

    With respect to disclosure contained herein regarding resources other than reserves, there is uncertainty that it will be commercially viable to produce any portion of the resources and there is significant uncertainty regarding the ultimate recoverability of such resources.

    Advisory regarding forward-looking information and statements

    This press release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities laws. The use of any of the words “will”, “expects”, “believe”, “plans”, “potential” and similar expressions are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward looking statements, including but not limited to:

    • our intention to allocate $100 million to repurchase our common shares in 2025, with at least 75% of any incremental free adjusted funds flow also allocated to the repurchase of our common share pursuant to our NCIB;
    • that our soft ceiling net debt will allow our current production levels to be sustainable and maintain an adjusted funds flow ratio below 1.0x in a stress test price environment of US$45/Bbl WTI and US$2.00/MMBtu NYMEX;
    • NuVista’s ability to continue directing free adjusted funds flow towards a prudent balance of return of capital to shareholders and debt reduction, while investing in high return growth projects;
    • the anticipated allocation of free adjusted funds flow;
    • our expectation that our capital efficiency will continue to be strong in 2025, allowing us to realize a well cost reduction of 3% year-over-year;
    • our expectation that a 5-well pad in Elmworth, a 4-well pad in Gold Creek, and a 14-well pad in Pipestone will be brought on-stream during the second quarter;
    • our expectation that an 8-welll pad in Pipestone will be brought on-stream in the third quarter;
    • our expectations regarding the consistency in deliverability of inventory in the Elmworth and Gold Creek areas;
    • guidance with respect to first quarter 2025 production and production mix;
    • our expectation that growth in 2025 will be largely supported by the Pipestone area;
    • the expected timing of start-up of a third-party gas plant in the Pipestone area and the anticipated benefits thereof;
    • our 2025 full year production, full year production mix and capital expenditures guidance ranges;
    • our plan to continue to maintain an efficient drilling program by employing 2-drill-rig execution;
    • our expectation that our value-adding growth plateau level will be approximately 125,000 Boe/d;
    • our future focus, strategy, plans, opportunities and operations; and
    • other such similar statements.

    Statements relating to “reserves” are also deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described exist in the quantities predicted or estimated and that the reserves can be profitably produced in the future.

    The future acquisition of our common shares pursuant to a share buyback (including through our normal course issuer bid), if any, and the level thereof is uncertain. Any decision to acquire common shares pursuant to a share buyback will be subject to the discretion of the Board of Directors and may depend on a variety of factors, including, without limitation, the Company’s business performance, financial condition, financial requirements, growth plans, expected capital requirements and other conditions existing at such future time including, without limitation, contractual restrictions and satisfaction of the solvency tests imposed on the Company under applicable corporate law. There can be no assurance of the number of common shares that the Company will acquire pursuant to a share buyback, if any, in the future.

    By their nature, forward-looking statements are based upon certain assumptions and are subject to numerous risks and uncertainties, some of which are beyond NuVista’s control, including the impact of general economic conditions, industry conditions, current and future commodity prices and inflation rates; that other than the tariffs that have been announced and implemented by the U.S. and Canadian governments on March 4, 2025, neither the U.S. nor Canada (i) increases the rate or scope of such tariffs, or imposes new tariffs, on the import of goods from one country to the other, and/or (ii) imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, the impact of ongoing global events, including Middle East and European tensions, with respect to commodity prices, currency and interest rates, anticipated production rates, borrowing, operating and other costs and adjusted funds flow; the timing, allocation and amount of capital expenditures and the results therefrom; anticipated reserves and the imprecision of reserve estimates; the performance of existing wells; the success obtained in drilling new wells; the sufficiency of budgeted capital expenditures in carrying out planned activities; access to infrastructure and markets; competition from other industry participants; availability of qualified personnel or services and drilling and related equipment; stock market volatility; effects of regulation by governmental agencies including changes in environmental regulations, tax laws and royalties; the ability to access sufficient capital from internal sources and bank and equity markets; that we will be able to execute our 2025 drilling plans as expected; our ability to carry out our 2025 production and capital guidance as expected; the risk that (i) the U.S. or Canadian governments increases the rate or scope of the currently implemented tariffs, or imposes new tariffs on the import of goods from on the import or export of products from one country to the other, and (ii) the tariffs imposed by the U.S. on other countries and responses thereto could have a material adverse effect on the Canadian, U.S. and global economies, and by extension the oil and gas industry; and including, without limitation, those risks considered under “Risk Factors” in our Annual Information Form.

    Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. NuVista’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements, or if any of them do so, what benefits NuVista will derive therefrom. NuVista has included the forward-looking statements in this press release in order to provide readers with a more complete perspective on NuVista’s future operations and such information may not be appropriate for other purposes. NuVista disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    This press release also contains financial outlook and future oriented financial information (together, “FOFI”) relating to NuVista including, without limitation, capital expenditures in 2025 and production which are based on, among other things, the various assumptions disclosed in this press release including under “Advisory regarding forward-looking information and statements” and including assumptions regarding benchmark pricing as it relates to the 2025 capital allocation framework. Notwithstanding the foregoing, the FOFI contained in this press release does not include the potential impact of tariff or trade-related regulation that have been announced by the U.S. and Canada, including the tariffs imposed by the U.S. on Canada effective March 4, 2025. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and the impact of the tariffs on NuVista’s business operations and financial condition, while currently unknown, may be material and adverse and, as such, undue reliance should not be placed on FOFI. NuVista’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these FOFI, or if any of them do so, what benefits NuVista will derive therefrom. NuVista has included the FOFI in order to provide readers with a more complete perspective on NuVista’s future operations and such information may not be appropriate for other purposes.

    These forward-looking statements and FOFI are made as of the date of this press release and NuVista disclaims any intent or obligation to update any forward-looking statements and FOFI, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities law.

    Non-GAAP and other financial measures

    This press release uses various specified financial measures (as such terms are defined in National Instrument 52-112 – Non-GAAP Disclosure and Other Financial Measures Disclosure (“NI 51-112”)) including “non-GAAP financial measures”, “non-GAAP ratios”, “capital management measures” and “supplementary financial measures” (as such terms are defined in NI 51-112), which are described in further detail below. Management believes that the presentation of these non-GAAP measures provides useful information to investors and shareholders as the measures provide increased transparency and the ability to better analyze performance against prior periods on a comparable basis.

    (1) Non-GAAP financial measures

    NI 52-112 defines a non-GAAP financial measure as a financial measure that: (i) depicts the historical or expected future financial performance, financial position or cash flow of an entity; (ii) with respect to its composition, excludes an amount that is included in, or includes an amount that is excluded from, the composition of the most directly comparable financial measure disclosed in the primary financial statements of the entity; (iii) is not disclosed in the financial statements of the entity; and (iv) is not a ratio, fraction, percentage or similar representation.

    These non-GAAP financial measures are not standardized financial measures under IFRS Accounting Standards and might not be comparable to similar measures presented by other companies where similar terminology is used. Investors are cautioned that these measures should not be construed as alternatives to or more meaningful than the most directly comparable GAAP measures as indicators of NuVista’s performance. Set forth below are descriptions of the non-GAAP financial measures used in this press release.

    • Free adjusted funds flow

    Free adjusted funds flow is adjusted funds flow less net capital expenditures, power generation expenditures, and asset retirement expenditures. Each of the components of free adjusted funds flow are non-GAAP financial measures. Please refer to disclosures under the headings “Capital management measures” and “Capital expenditures” for a description of each component of free adjusted funds flow. Management uses free adjusted funds flow as a measure of the efficiency and liquidity of its business, measuring its funds available for additional capital allocation to manage debt levels and return capital to shareholders through its NCIB program and/or dividend payments. By removing the impact of current period net capital and asset retirement expenditures, management believes this measure provides an indication of the funds NuVista has available for future capital allocation decisions.

    The following table sets out our free adjusted funds flow compared to the most directly comparable GAAP measure of cash provided by operating activities less cash used in investing activities for the applicable periods:

      Three months ended December 31 Year ended December 31
    ($ thousands) 2024 2023 2024 2023
    Cash provided by operating activities 135,831   211,761   600,253   721,342  
    Cash used in investing activities (71,090 ) (132,646 ) (499,579 ) (531,586 )
    Excess (deficit) cash provided by operating activities over cash used in investing activities 64,741   79,115   100,674   189,756  
             
    Adjusted funds flow 137,059   201,987   552,196   756,943  
    Net capital expenditures (71,090 ) (113,258 ) (498,876 ) (518,294 )
    Power generation expenditures —   (16,904 ) (1,680 ) (16,904 )
    Asset retirement expenditures (3,551 ) (1,208 ) (12,029 ) (11,195 )
    Free adjusted funds flow 62,418   70,617   39,611   210,550  
                     
    • Capital expenditures

    Capital expenditures are equal to cash used in investing activities, excluding changes in non-cash working capital, other asset expenditures, power generation expenditures, proceeds on property dispositions and costs of acquisitions. NuVista considers capital expenditures to represent its organic capital program and a useful measure of cash flow used for capital reinvestment.

    The following table provides a reconciliation between the non-GAAP measure of capital expenditures to the most directly comparable GAAP measure of cash used in investing activities for the applicable periods:

      Three months ended December 31 Year ended December 31
    ($ thousands) 2024 2023 2024 2023
    Cash used in investing activities (71,090 ) (132,646 ) (499,579 ) (531,586 )
    Changes in non-cash working capital —   2,484   (977 ) (13,112 )
    Other asset expenditures —   —   —   9,500  
    Power generation expenditures —   16,904   1,680   16,904  
    Property acquisition —   44,000   —   44,000  
    Proceeds on property disposition —   —   —   (26,000 )
    Capital expenditures (71,090 ) (69,258 ) (498,876 ) (500,294 )
                     
    • Net capital expenditures

    Net capital expenditures are equal to cash used in investing activities, excluding changes in non-cash working capital, other asset expenditures, and power generation expenditures. The Company includes funds used for property acquisitions or proceeds from property dispositions within net capital expenditures as these transactions are part of its development plans. NuVista considers net capital expenditures to represent its organic capital program inclusive of capital spending for acquisition and disposition proposes and a useful measure of cash flow used for capital reinvestment.

    The following table provides a reconciliation between the non-GAAP measure of net capital expenditures to the most directly comparable GAAP measure of cash used in investing activities for the applicable periods:

      Three months ended December 31 Year ended December 31
    ($ thousands) 2024  2023  2024  2023 
    Cash used in investing activities (71,090 ) (132,646 ) (499,579 ) (531,586 )
    Changes in non-cash working capital —   2,484   (977 ) (13,112 )
    Other asset expenditures —   —   —   9,500  
    Power generation expenditures —   16,904   1,680   16,904  
    Net capital expenditures (71,090 ) (113,258 ) (498,876 ) (518,294 )
                     

    The following table provides a breakdown of capital expenditures, net capital expenditures and power generation expenditures by category for the applicable periods:

      Three months ended December 31   Year ended December 31  
    ($ thousands, except % amounts) 2024   % of total   2023   % of total   2024   % of total   2023   % of total  
    Land and retention costs —   —   15   —   6,968   1   7,507   2  
    Geological and geophysical 38   —   249   —   1,164   —   691   —  
    Drilling and completion 43,915   62   51,413   74   353,583   72   392,663   78  
    Facilities and equipment 25,508   36   16,193   24   130,628   26   93,252   19  
    Corporate and other 1,629   2   1,388   2   6,533   1   6,181   1  
    Capital expenditures 71,090       69,258       498,876       500,294      
    Property acquisitions —       44,000       —       44,000      
    Proceeds on property disposition —       —       —       (26,000 )    
    Net capital expenditures 71,090       113,258       498,876       518,294      
    Power generation expenditures —       16,904       1,680       16,904      
                                     
    • Net operating expense

    NuVista considers that any incremental gross costs incurred to process third party volumes at its facilities are offset by the applicable fees charged to such third parties. However, under IFRS Accounting Standards, NuVista is required to reflect operating costs and processing fee income separately on its statements of earnings. Management believes that net operating expense, calculated as gross operating expense less processing income and other recoveries, is a meaningful measure for investors to understand the net impact of NuVista’s operating activities.

    The following table sets out net operating expense compared to the most directly comparable GAAP measure of operating expenses for the applicable periods:

      Three months ended December 31   Year ended December 31  
    ($ thousands) 2024   2023   2024   2023  
    Operating expense 88,891   85,207   354,253   324,196  
    Other income (1) (1,646 ) (1,038 ) (8,605 ) (3,058 )
    Net operating expense 87,245   84,169   345,648   321,138  

     

    (1) Processing income and other recoveries, included within Other Income as presented in the table below:
       
      Three months ended December 31   Year ended December 31  
    ($ thousands) 2024   2023   2024   2023  
    Other income 57   —   3,235   —  
    Processing income and other recoveries 1,646   1,038   8,605   3,058  
    Other Income 1,703   1,038   11,840   3,058  
                     

    (2) Non-GAAP ratios

    NI 52-112 defines a non-GAAP ratio as a financial measure that: (i) is in the form of a ratio, fraction, percentage or similar representation; (ii) has a non-GAAP financial measure as one or more of its components; and (iii) is not disclosed in the financial statements of the entity. Set forth below is a description of the non-GAAP ratios used in this MD&A.

    These non-GAAP ratios are not standardized financial measures under IFRS Accounting Standards and might not be comparable to similar measures presented by other companies where similar terminology is used. Investors are cautioned that these ratios should not be construed as alternatives to or more meaningful than the most directly comparable IFRS Accounting Standards measures as indicators of NuVista’s performance.

    Per Boe disclosures for petroleum and natural gas revenues, realized gains/losses on financial derivatives, royalties, transportation expense, G&A expense, financing costs, and DD&A expense are non-GAAP ratios that are calculated by dividing each of these respective GAAP measures by NuVista’s total production volumes for the period.

    Non-GAAP ratios presented on a “per Boe” basis may also be considered to be supplementary financial measures (as such term is defined in NI 51-112).

    • Operating netback and corporate netback (“netbacks”), per BoeNuVista calculated netbacks per Boe by dividing the netbacks by total production volumes sold in the period. Each of operating netback and corporate netback are non-GAAP financial measures. Operating netback is calculated as petroleum and natural gas revenues, realized financial derivative gains/losses and other income, less royalties, transportation expense and net operating expense. Corporate netback is operating netback less general and administrative expense, cash share-based compensation expense (recovery), financing costs excluding accretion expense, and current income tax expense (recovery).

      Management believes both operating and corporate netbacks are key industry benchmarks and measures of operating performance for NuVista that assists management and investors in assessing NuVista’s profitability, and are commonly used by other petroleum and natural gas producers. The measurement on a Boe basis assists management and investors with evaluating NuVista’s operating performance on a comparable basis.

    • Net operating expense, per BoeNuVista calculated net operating expense per Boe by dividing net operating expense by NuVista’s production volumes for the period.

      Management believes that net operating expense, calculated as gross operating expense less processing income and other recoveries, which are included in NuVista’s statements of earnings, is a meaningful measure for investors to understand the net impact of the Company’s operating activities. The measurement on a Boe basis assists management and investors with evaluating NuVista’s operating performance on a comparable basis.

    Reference has been also been made to certain terms that do not have standardized meanings or standard calculations and therefore such measures may not be comparable to similar measures used by other entities. These terms are used by NuVista’s management to measure the success of replacing reserves and to compare operating performance to previous periods on a comparable basis.

    • F&D costsNuVista calculated F&D costs as the sum of development costs plus the change in future development costs (“FDC”) for the period when appropriate, divided by the change in reserves within the applicable reserves category, excluding those reserves acquired or disposed.

      NuVista calculated TP+PA 3-year average F&D costs as the sum of development costs plus the sum of the change in FDC over the last three completed financial years, divided by the sum of the change in the total proved and probable reserves over the last three completed financial years.

    • FD&A costsNuVista calculated FD&A costs are calculated as the sum of development costs plus acquisition costs net of disposition proceeds plus the change in FDC for the period when appropriate, divided by the change in reserves within the applicable reserves category, inclusive of changes due to acquisitions and dispositions.
    • Recycle RatioNuVista calculates recycle ratio as the operating netback divided by F&D costs for the applicable period.

    (3) Capital management measures

    NI 52-112 defines a capital management measure as a financial measure that: (i) is intended to enable an individual to evaluate an entity’s objectives, policies and processes for managing the entity’s capital; (ii) is not a component of a line item disclosed in the primary financial statements of the entity; (iii) is disclosed in the notes to the financial statements of the entity; and (iv) is not disclosed in the primary financial statements of the entity.

    NuVista has defined net debt, adjusted funds flow, and net debt to annualized fourth quarter adjusted funds flow ratio as capital management measures used by the Company in this press release.

    • Adjusted funds flow

    NuVista considers adjusted funds flow to be a key measure that provides a more complete understanding of the NuVista considers adjusted funds flow to be a key measure that provides a more comprehensive view of the company’s ability to generate cash flow necessary for financing capital expenditures, meeting asset retirement obligations, and fulfilling its financial commitments. Adjusted funds flow is calculated by adjusting cash flow from operating activities to exclude changes in non-cash working capital and asset retirement expenditures. Management believes these elements are subject to timing variations in collection, payment, and occurrence. By excluding them, management is able to provide a more meaningful performance measure of NuVista’s ongoing operations. Specifically, expenditures on asset retirement obligations may fluctuate depending on the company’s capital programs and the maturity of its operating areas, while environmental remediation recovery is tied to an infrequent incident that management does not expect to recur regularly. The settlement of asset retirement obligations is managed through NuVista’s capital budgeting process, which incorporates the available adjusted funds flow.

    A reconciliation of adjusted funds flow is presented in the following table:

      2024 2023
    Cash provided by operating activities $ 600,253   $ 721,342  
    Asset retirement expenditures   12,029     11,195  
    Change in non-cash working capital   (60,086 )   24,406  
    Adjusted funds flow $ 552,196   $ 756,943  
                 

    Net debt is used by management to provide a more comprehensive understanding of NuVista’s capital structure and to assess the company’s liquidity. NuVista calculates net debt by considering accounts receivable, prepaid expenses, accounts payable and accrued liabilities, long-term debt (the Credit Facility), senior unsecured notes, and other liabilities. Management uses total market capitalization and the ratio of net debt to annualized adjusted funds flow for the current quarter to analyze balance sheet strength and liquidity.

    The following is a summary of total market capitalization, net debt, annualized current quarter adjusted funds flow, and net debt to annualized current quarter adjusted funds flow:

      2024 2023
    Basic common shares outstanding (thousands of shares)   203,701     207,584  
    Share price $ 13.82   $ 11.04  
    Total market capitalization $ 2,815,148   $ 2,291,727  
    Accounts receivable and other   (132,538 )   (139,451 )
    Prepaid expenses   (45,584 )   (45,241 )
    Accounts payable and accrued liabilities   206,862     157,711  
    Current portion of other liabilities   18,451     14,082  
    Long-term debt   5,353     16,897  
    Senior unsecured notes   163,258     162,195  
    Other liabilities   16,701     17,358  
    Net debt $ 232,503   $ 183,551  
    Annualized current quarter adjusted funds flow $ 548,236   $ 807,948  
    Net debt to annualized current quarter adjusted funds flow   0.4     0.2  
    Adjusted funds flow $ 552,196   $ 756,943  
    Net debt to adjusted funds flow   0.4     0.2  
                 

    (4) Supplementary financial measures

    This press release may contain certain supplementary financial measures. NI 52-112 defines a supplementary financial measure as a financial measure that: (i) is intended to be disclosed on a periodic basis to depict the historical or expected future financial performance, financial position or cash flow of an entity; (ii) is not disclosed in the financial statements of the entity; (iii) is not a non-GAAP financial measure; and (iv) is not a non-GAAP ratio.

    NuVista calculates: (i) “adjusted funds flow per share” by dividing adjusted funds flow for a period by the number of weighted average common shares of NuVista for the specified period; (ii) “operating netback per share” by dividing operating netback for a period by the number of weighted average common shares of NuVista for the specified period; (iii) “corporate netback per share” by dividing operating netback for a period by the number of weighted average common shares of NuVista for the specified period; (iv) “net debt to adjusted funds flow” by dividing the net debt at the end of a period by the adjusted funds flow for such period; and (v) “net present value per share” is the net present value (discounted at 10%) in the reserve category divided by the basic common shares outstanding at the end of the period.

    FOR FURTHER INFORMATION CONTACT:

    Mike J. Lawford Ivan J. Condic
    President and CEO VP, Finance and CFO
    (403) 538-1936 (403) 538-1945
       

    The MIL Network –

  • MIL-OSI Asia-Pac: Union Minister Shri Jyotiraditya M.Scindia Showcases India’s Telecom Transformation at MWC 2025

    Source: Government of India

    Union Minister Shri Jyotiraditya M.Scindia Showcases India’s Telecom Transformation at MWC 2025

    Innovation, Inclusivity, Sustainability & Trust forms the core of India’s guiding principles towards tech governance: Shri JM Scindia

    Ensuring spectrum management, market stability, telecom regulation & consumer protection key towards balancing innovation with regulation: Shri JM Scindia

    Participation in MWC 25 underscores the global standing of India’s telecom revolution and reflects India’s commitment to tech governance

    Posted On: 05 MAR 2025 10:53AM by PIB Delhi

    Minister for CommunicationsShri Jyotiraditya M Scindia visited the prestigious Mobile World Congress (MWC) in Barcelona, Spain, engaging in top level meetings with CEOs, addressed key sessions and witnessed major tech innovations in one of the world’s largest gatherings for the mobile and telecommunications industry.

    This visit showcased India’s telecom transformation at Mobile World Congress 2025, with Bharat’s rapid 5G rollout, world’s lowest data tariffs, indigenous 4G/5G stacks & robust cybersecurity measures highlighted in the prestigious event.Participation in MWC 25 underscores the global standing of India’s telecom revolution and reflects India’s commitment to tech governance.

    The Minister addressed key sessions on ‘Global Tech Governance: Rising to the Challenge’ and Balancing Innovation & Regulation: Global Perspectives on Telecom Policy’ at the event.

    He said that “Innovation, Inclusivity, Sustainability & Trust forms the core of India’s guiding principles towards tech governance”and highlighted the successof Aadhaar, BharatNet in serving every citizen of the country.

    The Minister also spoke about the four steps ofIndia’s efforts towards balancing innovation with regulation such as spectrum management; ensuring market stability; introducing telecom regulation to ease up various processes; and bringing cybersecurity measures for consumer protection.

    During the MWC 2025 visit, Shri Scindia unveiled the curtains of India Mobile Congress 2025 and inaugurated Bharat Pavilion organized by the Telecom Equipment & Services Export Promotion Council (TEPC) with the support of the Department of Telecommunications, Government of India, featured 38 Indian telecom equipment manufacturers showcasing their state-of-the-art products, both hardware and software.

    The Minister also inaugurated VVDN’s indigenously designed & manufacturedAI based Wi-Fi-7 during his visit to Bharat Pavillion. He also visited other booths such as Meta and Google Cloud, catching a glimpse of their various technological solutions.

    As part of the visit, the Minister interacted with top industry leaders from Qualcomm, Cisco, Mavenir, Ericsson, Nokia, AMD, AT&T, Airtel, BSNL, CDOT, TEPC, during dinner with CEOs, enabling strategic partnerships and innovation in Telecom.

    The event also featured bilateral meetings with FCC,along with booth visits to Companies exploring cutting-edge developments in 5G, artificial intelligence, and next-generation mobile technologies.

    The Minister’s participation in MWC 2024 highlights India’s commitment to leveraging cutting-edge technologies for enhancing digital infrastructure. This engagement also reflects India’s strategic focus on strengthening international partnerships, driving investments in the telecommunications sector, and shaping global policies to ensure inclusive and sustainable growth. Through active dialogue and collaboration, India aims to play a key role in shaping the future of global connectivity and technologicaladvancements.

    AboutMobileWorldCongress2025

    MWC 2025, themed “Converge. Connect. Create.”, is taking place from March 3–6 in Barcelona, bringing together 101,000+ attendees, 2,700+ exhibitors, and leaders from 200+ countries to showcase the latest in 5G, AI, IoT, and digital transformation. With 1,200+ speakers, including top executives and policymakers, key themes include 5G Inside, AI+, Connect X, Enterprise Re-invented, Game Changers and Digital DNA.. MWC 2025 is the world’s leading platform for mobile innovation, networking, and future connectivity.

     

    ****

    Samrat/Dheeraj/Allen

    (Release ID: 2108275) Visitor Counter : 213

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Union Minister Shri Jyotiraditya Scindia Showcases India’s Telecom Transformation at MWC 2025

    Source: Government of India (2)

    Union Minister Shri Jyotiraditya Scindia Showcases India’s Telecom Transformation at MWC 2025

    Innovation, Inclusivity, Sustainability & Trust forms the core of India’s guiding principles towards tech governance: Shri JM Scindia

    Ensuring spectrum management, market stability, telecom regulation & consumer protection key towards balancing innovation with regulation: Shri JM Scindia

    Participation in MWC 25 underscores the global standing of India’s telecom revolution and reflects India’s commitment to tech governance

    Posted On: 05 MAR 2025 10:53AM by PIB Delhi

    Minister for CommunicationsShri Jyotiraditya M Scindia visited the prestigious Mobile World Congress (MWC) in Barcelona, Spain, engaging in top level meetings with CEOs, addressed key sessions and witnessed major tech innovations in one of the world’s largest gatherings for the mobile and telecommunications industry.

    This visit showcased India’s telecom transformation at Mobile World Congress 2025, with Bharat’s rapid 5G rollout, world’s lowest data tariffs, indigenous 4G/5G stacks & robust cybersecurity measures highlighted in the prestigious event.Participation in MWC 25 underscores the global standing of India’s telecom revolution and reflects India’s commitment to tech governance.

    The Minister addressed key sessions on ‘Global Tech Governance: Rising to the Challenge’ and Balancing Innovation & Regulation: Global Perspectives on Telecom Policy’ at the event.

    He said that “Innovation, Inclusivity, Sustainability & Trust forms the core of India’s guiding principles towards tech governance”and highlighted the successof Aadhaar, BharatNet in serving every citizen of the country.

    The Minister also spoke about the four steps ofIndia’s efforts towards balancing innovation with regulation such as spectrum management; ensuring market stability; introducing telecom regulation to ease up various processes; and bringing cybersecurity measures for consumer protection.

    During the MWC 2025 visit, Shri Scindia unveiled the curtains of India Mobile Congress 2025 and inaugurated Bharat Pavilion organized by the Telecom Equipment & Services Export Promotion Council (TEPC) with the support of the Department of Telecommunications, Government of India, featured 38 Indian telecom equipment manufacturers showcasing their state-of-the-art products, both hardware and software.

    The Minister also inaugurated VVDN’s indigenously designed & manufacturedAI based Wi-Fi-7 during his visit to Bharat Pavillion. He also visited other booths such as Meta and Google Cloud, catching a glimpse of their various technological solutions.

    As part of the visit, the Minister interacted with top industry leaders from Qualcomm, Cisco, Mavenir, Ericsson, Nokia, AMD, AT&T, Airtel, BSNL, CDOT, TEPC, during dinner with CEOs, enabling strategic partnerships and innovation in Telecom.

    The event also featured bilateral meetings with GSMA, FCC, Poland and Sweden,along with booth visits to Companies exploring cutting-edge developments in 5G, artificial intelligence, and next-generation mobile technologies.

    The Minister’s participation in MWC 2024 highlights India’s commitment to leveraging cutting-edge technologies for enhancing digital infrastructure. This engagement also reflects India’s strategic focus on strengthening international partnerships, driving investments in the telecommunications sector, and shaping global policies to ensure inclusive and sustainable growth. Through active dialogue and collaboration, India aims to play a key role in shaping the future of global connectivity and technologicaladvancements.

    AboutMobileWorldCongress2025

    MWC 2025, themed “Converge. Connect. Create.”, is taking place from March 3–6 in Barcelona, bringing together 101,000+ attendees, 2,700+ exhibitors, and leaders from 200+ countries to showcase the latest in 5G, AI, IoT, and digital transformation. With 1,200+ speakers, including top executives and policymakers, key themes include 5G Inside, AI+, Connect X, Enterprise Re-invented, Game Changers and Digital DNA.. MWC 2025 is the world’s leading platform for mobile innovation, networking, and future connectivity.

     

    ****

    Samrat/Dheeraj/Allen

    (Release ID: 2108275) Visitor Counter : 94

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: SITI begins visit to Spain (with photos)

    Source: Hong Kong Government special administrative region

         The Secretary for Innovation, Technology and Industry, Professor Sun Dong, led a delegation of representatives from Hong Kong’s innovation and technology (I&T) sector to visit Barcelona, Spain, on March 4 (Barcelona time) and attend the Mobile World Congress (MWC) 2025.     Hong Kong Science and Technology Parks Corporation (HKSTPC) and the Hong Kong Trade Development Council (HKTDC) co-ordinated the participation of 24 local I&T enterprises or institutions in the MWC 2025 to set up the Hong Kong Tech Pavilion, showcasing the latest solutions in areas of advanced electronics and robotics, artificial intelligence and data technology, digital transformation and the start-up ecosystem.      Professor Sun attended the networking reception of the Hong Kong Tech Pavilion and witnessed the signing of Memorandum of Understanding between the HKTDC and the Barcelona City Council on promoting trade and business relations between enterprises in the two places, and collaboration between the HKSTPC and 22@Network Barcelona on enhancing the global connection of start-ups of the two places.     Professor Sun then met with the Secretary of State for Science, Innovation, and Universities of Spain, Mr Juan Cruz Cigudosa, to exchange views on issues of mutual interest, including strengthening co-operation and exchanges between the two places at different levels in technological innovation and research.     Professor Sun and the delegation visited the Barcelona Biomedical Research Park, which is one of the largest biomedical research clusters in Southern Europe, bringing together a number of research centres and researchers in different biomedical fields. The delegation focused on its cross-institutional collaboration model and clinical transformation outcome and applications, as well as various support services provided to the research centres in the Park.     Professor Sun and the delegation also toured the headquarters of ISDIN, a cosmeceutical brand, and learned about the company’s solutions for dermatology conditions and its related research achievements in products. Professor Sun encouraged the company to leverage on Hong Kong’s unique international business environment as well as Hong Kong’s unique advantage of connecting with both the Mainland and the world to expand its business in Hong Kong, the Mainland and the Asian market.      In the evening, Professor Sun attended the Chinese New Year reception hosted by the Hong Kong Economic and Trade Office in Brussels, where he shared with about 150 leaders and executives from the business and political sectors and I&T community in Barcelona the vision and efforts of Hong Kong to develop into an international I&T centre. He hoped to explore with Spain new opportunities for I&T cooperation between the two places. During the reception, Professor Sun had a brief exchange with the Consul General of the People’s Republic of China in Barcelona, Ms Meng Yuhong.     Upon his arrival in Barcelona on March 3, Professor Sun visited the Barcelona Activa, a public trading company integrated in the area of Economy and Economic Promotion of Barcelona City Council. He was briefed on the latest development in Barcelona’s economic circle and the company’s work of attracting enterprises, investments and talents to Barcelona as well as providing support for enterprises to expand their businesses.     Professor Sun then met with the Chief Executive Officer of Catalonia Trade and Investment Office Agency for Business Competitiveness, Mr Jaume Baró, and was briefed on the agency’s work in assisting enterprises to raise capital, promoting their development through training programmes and support services, enhancing attractiveness of Catalonia to foreign investments as well as connecting business organisations from local and overseas to assist enterprises there in opening up development channels and enhancing their competitiveness.     Professor Sun had dinner with representatives of the participating I&T enterprises and organisations in the evening of March 3. He thanked them for their support of this visit and bringing innovative solutions to the European market, showcasing Hong Kong’s extraordinary I&T strength. He hoped that they could expand business network.     Members of the delegation include heads from the HKSTPC, Cyberport, the Hong Kong Applied Science and Technology Research Institute and the Hong Kong Microelectronics Research and Development Institute, as well as representatives of 24 local I&T enterprises or institutions. The HKSTPC and the HKTDC co-ordinated the participation of the I&T representatives of the enterprises and institutions at the MWC 2025.     Professor Sun Dong will continue his visit in Barcelona on March 5 (Barcelona time) and deliver a keynote speech at the Global System for Mobile Communications Association Ministerial Programme session of the MWC 2025.

    MIL OSI Asia Pacific News –

  • MIL-OSI United Kingdom: Traders are ‘front and centre’ of Market consultation

    Source: City of Norwich

    Published on Wednesday, 5th March 2025

    Traders have been reassured they are at the front and centre of the council’s consultation on the future of Norwich Market.

    Councillor Claire Kidman, Cabinet Member for a prosperous Norwich, said: “Traders are front and centre of our consultation on the future of the market.

    “They are absolutely integral to shaping design options before we go out to wider public consultation later this year. I want to make it crystal clear that nothing has been or will be decided before the traders and the public have had their say.”

    And several improvements to the market were unveiled at a traders’ meeting last week including:

    • Upgrading roller shutters
    • Installation of CCTV to deter Anti-Social Behaviour and criminal damage
    • Upgrade of cross aisle awnings to protect public and traders in harsh weather
    • Reflective paint to reduce heat under canopies
    • Looking at ways of reducing pigeons in and around the market, with the use of non-harmful fire gel

    Cllr Kidman added: “We want to implement these measures to improve the customer experience of the market. These improvements and the consultation on new designs are part of our determination to retain the market’s iconic, historical identity and cultural strengths while making sure it meets the needs of local, national and international consumers and visitors.

    “We want people from all over the county, the UK, and beyond to come and sample the atmosphere of our magical medieval city and market.”

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Department Of Financial Services (DFS) Hosts a Post Budget Webinar On Theme “Regulatory, Investment, And Ease Of Doing Business (EODB) Reforms”

    Source: Government of India

    Department Of Financial Services (DFS) Hosts a Post Budget Webinar On Theme  “Regulatory, Investment, And Ease Of Doing Business (EODB) Reforms”

    Government remains committed to  ensuring of timely implementation of all budget announcements for the year 2025-26- Smt. Nirmala Sitharaman

    Jan Vishwas Bill 2.0 to decriminalize more than 100 provisions in various laws, simplifying processes for businesses- Finance Minister

    Several important suggestions given by experts  on different sub-themes during the Post Budget Webinar

    Posted On: 05 MAR 2025 1:43PM by PIB Delhi

    Addressing a post-budget webinar on the theme  “Regulatory, Investment, And Ease Of Doing Business (EODB) Reforms” organized by the Department of Financial Services, Union Minister of Finance and Corporate affairs,  Smt. Nirmala Sitharaman emphasized that the  government is committed to encouraging global economic partnerships, leveraging technology to strengthen traditional sectors and to significantly enhance the export potential of India.

    The Finance Minister  added that the government remains committed to  ensuring  timely implementation of all budget announcements for the year 2025-26.  This is consistent with the government’s track record of delivering on promises made in previous budgets, the Minister said.

    The Finance Minister explained how recent budget announcements are being implemented promptly. Under the MUDRA loans, the loan limit under the Tarun category has been increased from Rs10 lakh to Rs 20 lakh, with implementation completed via notification dated 24th October 2024, the Finance Minister added.

    The new MSME Credit assessment model announced in Budget 2024-25 has progressed well. 11 Public Sector Banks have extended it to existing customers and 7 Banks have extended it to new ones also, Smt. Nirmala Sitharaman said.

    Second, 21 new SIDBI branches have already been opened in MSME clusters during 2024-25 in line with the budget announcement made in 2024-25.

    The Ministry of Corporate Affairs has implemented the pilot project for the PM Internship scheme. The scheme was announced in the budget of 2024-25 creating over 1.25 lakh internship opportunities in top companies with over six lakh applicants. The government remains steadfast in reducing regulatory burdens and enhancing trust based governance to improve the ease of doing business.

    Through the budget announcements, the government is  taking various steps towards making India a seamless export friendly economy, one where businesses are free to focus on innovation and expansion and not on paperwork and penalties. Decriminalization of business related laws reduces the legal risks, allowing industries to operate with greater confidence.

    Giving details, the Finance Minister said that the robust manufacturing sector, free from unnecessary regulatory bottlenecks, will further attract both domestic and foreign investments, driving economic growth, positioning India as a trusted global player. The government has over 42,000 compliances removed, and over 3700 legal provisions have been decriminalized since 2014. In the Jan Vishwas act 2023, more than 180 legal provisions were decriminalized.

    The government will now bring up the general Vishwas Bill 2.0 to decriminalize more than 100 provisions in various laws. It will further simplify processes for businesses, the Minister added.

    Highlighting the focus laid on capex, Smt Nirmala Sitharaman said that the pathway for reforms are complemented by the government’s unwavering focus on capital expenditure as a driver of economic growth. For the year 2025-26, total effective capex is proposed at 15.48 lakh crores, which is 4.3% of the GDP, with 11.21 lakh crores allocated as core capital expenditure by the centre, which is 3.1% of the GDP. This unprecedented investment in infrastructure development is already creating jobs, strengthening industries and laying the foundation for private sector participation in India’s growth story.

    The Minister said that today’s webinar has brought together stakeholders from ministries like Finance Department, Industry policy, internal trade, corporate affairs regulators, state governments, public sector banks, insurance companies, SIDBI, NABARD and industry associations to ensure smooth policy implementation.

    The Finance Minister appreciated that various important inputs have been received during the course of discussion, and they will be looked into suitably. The inputs will help align our strategies, address possible implementation challenges and ensure that budgetary announcements efficiently translate into tangible actions, the Minister said.

    Speaking on the occasion, the Minister of State for Finance, Shri Pankaj Chaudhary in his concluding remarks said that increasing the FDI limit will not only attract foreign capital and advanced technology but will also improve insurance penetration, providing increased insurance coverage at affordable premiums to a larger section of the population. This move is also expected to improve technology advancements as well as better customer engagement processes.

    Further the Minister added that department of financial services is in advanced stages of finalisation and the Draft Insurance Laws Amendment Bill which will be presented, shortly.

    Minister of State for Rural Development and Communications, Dr. Chandra Sekhar Pemmasani in his concluding remarks during the webinar underlined that India Post Payments Bank (IPPB) is set to revolutionize last-mile financial access by integrating its services with Post Office Savings Accounts, creating a unified, technology-driven financial ecosystem.

    With 35 crore Post Office Savings Account holders and 11 crore IPPB customers, this integration will enhance accessibility, efficiency, and innovation in banking services. Key initiatives include expanding Aadhaar-enabled payment systems, increasing UPI transactions, introducing AI-driven microfinance, and launching vernacular digital platforms to empower rural communities. The Department of Posts and Communications is committed to enabling these changes, and collaboration with the Department of Financial services will further accelerate India’s journey toward a seamless and inclusive financial landscape, the minister added.

    In his Thematic session of the Post budget Webinar, Shri M. Nagaraju, Secretary DFS said that under the MUDRA Scheme, ₹33 lakh crore loan amount has been sanctioned. Under the Stand-Up India initiative, the department has sanctioned ₹59,000 crore to 2.62 lakh accounts. Additionally, under the PM SVANidhi scheme,  ₹14,000 crore has been sanctioned across 99 lakh accounts. Shri Nagaraju also mentioned that to ensure greater consistency, consumer protection, transparency, and grievance redressal, DFS is proposing setting up a unified forum where regulators and authorities in the pension sector can collaborate.

    The Department of Financial Services, Ministry of Finance organized a Post Budget Webinar on Theme 7 titled Regulatory, Investment and EODB reforms on Tuesday 4th March, 2025 to understand the unique perspectives from various stakeholders that can help implement the budget announcements for the year 2025-26, ensuring synergy among stakeholders. The webinar comprised of deliberations on 3 parallel breakout sessions on the following sub-themes as below:

    Sub-Theme 1: Making India investment friendly

    Sub-Theme 2: Ease of access to Financial Services/ Credit

    Sub-Theme 3: Rationalization of Legal & Regulatory Compliances

    Simultaneously,  2 more post budget webinars with themes of ‘MSME as an engine of growth’ and ‘Manufacturing, Exports and Nuclear Energy Missions’ were also organised. Prime Minister  addressed these 3 webinars , emphasizing the importance of manufacturing and export. Highlights of his address may be accessed at

    https://pib.gov.in/PressReleasePage.aspx?PRID=2108027

    For the webinar on Regulatory, Investment and EODB reforms, the sessions witnessed participation of Ministers of respective ministries, senior government officials, subject matter experts, industry leaders, bankers, FPOs and other related stakeholders. The deliberations  focussed on budget announcements related to FDI in Insurance Sector, Credit Enhancement Facility by NaBFID , Merger of Companies, Bilateral Investment Treaties, Investment Friendliness Index of States, Expanding Services of India Post Payment Bank, Grameen Credit Score, KYC Simplification, Pension Sector, Regulatory Reforms  & High-Level Committee for Regulatory Reforms, FSDC Mechanism, Jan Vishwas Bill 2.0 .

    The sub-theme “Making India investment friendly” covered budget paras on FDI in Insurance Sector, Credit Enhancement Facility by NaBFID, Merger of Companies, Bilateral Investment Treaties, and Investment Friendliness Index of States. Valuable suggestions were received from Panelists, Intervenors and Industry experts. The suggestions received during the panel discussion on this theme, inter alia, included, tax rationalization, Ease of Doing Business such as simplification of licensing process for new entrants, liberalizing investment norms, robust dispute resolution mechanism, use of e-governance in streamlining processes, minimize domestic regulatory bottlenecks, creating awareness within the government and build capacities, dedicated national law for foreign investment promotion in India, deepening of bond markets through participation of Insurance and pension funds,retail investors etc.

    During the breakout session on sub theme Ease of access to financial services / Credit, the discussions were held on 3 budget announcements regarding expanding services on India Post payment bank (IPPB), KYC simplification and Grameen credit score. Experts lauded the budget announcements and opined that expansion of IPPB will take banking services to remote areas, empower rural communities by providing access to essential financial tools and will deepen financial inclusion. Grameen credit score will provide an accurate credit profile of rural borrowers. It will not only give opportunities to rural population in availing affordable credit but will also provide opportunities to banks for increasing their business.  KYC simplification will enhance the ease of customers in availing banking and other financial services. The discussions held during the webinar enriched large number of attendees.

    In the Sub Theme: ” Rationalization of Legal & Regulatory Compliances”, Forum for Regulatory Coordination and Development of Pension Products, high-level committee for regulatory reforms, FSDC Mechanism and Jan Vishwas Bill 2.0 were discussed. It was emphasised by the speakers that ‘Viksit Bharat@2047’ will need a regulatory framework that is based on trust and is responsive to technological changes and global policy developments. Speakers highlighted that, Government needs to reduce compliance burden and Imprisonment and / or fine should be substituted with penalties, which are civil in nature, for all minor, procedural and technical non-compliances. Such a framework will facilitate the ease of doing business for all citizens.

    The recommendations on the respective sub-themes of the webinar were presented in the concluding session in presence of Minister of Finance & Corporate Affairs, Minister of State for Finance and Minister of State for Communication.

    ****

    NB/AD

    (Release ID: 2108360) Visitor Counter : 27

    MIL OSI Asia Pacific News –

  • MIL-OSI United Nations: Investing in biodiversity: unlocking greater returns

    Source: UNESCO World Heritage Centre

    The Liaison Group of the Biodiversity-related Conventions stresses the contribution of biodiversity to national economies, livelihoods, human health and food security.

    The Liaison Group of Biodiversity-related Conventions, a long-standing network uniting the executive heads of the eight biodiversity-related conventions, met at FAO Headquarters in Rome, in advance of the resumed CBD COP16. The group reaffirmed their collective support to conservation and sustainable use of biodiversity and the Kunming-Montreal Global Biodiversity Framework.

    At the meeting, held on 21 February 2025 and hosted by the secretariats of the International Treaty on Plant Genetic Resources for Food and Agriculture (ITPGRFA) and International Plant Protection Convention (IPPC), the group stressed the importance of investing in biodiversity to generate higher returns and mitigate the economic risks of biodiversity loss. The eight members highlighted how, by joining efforts under the respective mandates of the conventions, they can amplify the collective benefits to people and planet.

    The Liaison Group of Biodiversity-related Conventions, established in 2004, represents an important forum to foster synergies, policy coherence and cooperation among the eight conventions, namely the Convention on Biological Diversity (CBD), the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES), the Convention on the Conservation of Migratory Species of Wild Animals (CMS), the Convention on Wetlands, the UNESCO World Heritage Convention, IPPC, ITPGRFA and the International Whaling Commission (IWC).

    At the meeting, the members of the Liaison Group provided updates on their respective processes and concrete actions taken in their contributions to the Kunming-Montreal Global Biodiversity Framework. The Group also reflected on their shared priorities as mandated by their respective contracting Parties and identified potential areas for joint.

    The meeting included a session with the secretariat of the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) and the Office on Climate Change, Biodiversity and the Environment of the Food and Agriculture Organization of the United Nations which focused on the contribution of biodiversity to food production and the importance of aligning science with policy.

    The Group will continue to coordinate and cooperate on key shared priorities and objectives to ensure the work of its members contributes to the Kunming-Montreal Global Biodiversity Framework, and is well-aligned with the requests and expectations of their respective contracting Parties.

    These may include, among others, communication, capacity-building, resource mobilization, monitoring, scientific research and integrated national biodiversity strategies and action plans (NBSAPs). Such common priority areas support sharing best practices and working together to ensure efficiency, effectiveness, coherence and innovative approaches.

    MIL OSI United Nations News –

  • MIL-OSI Asia-Pac: Pre-event press release for Kolkata roadshow to be held on 7th March, 2025

    Source: Government of India

    Posted On: 05 MAR 2025 2:32PM by PIB Delhi

    The Ministry of Development of North Eastern Region (MDoNER) is organising the North East Trade and Investment roadshow in Kolkata on 7th March, 2025, starting from 10:30 a.m. onwards at Hotel JW Marriott Kolkata. The event will be graced by Dr. Sukanta Majumdar, Hon’ble Minister of State, Ministry of Development of North Eastern Region and Ministry of Education, Government of India. Shri Dharmvir Jha, Statistical Adviser, Ministry of Development of North Eastern Region along with senior representatives from North Eastern States will participate in the event.

    The roadshow is being organised in collaboration with the State Governments of North Eastern Region, FICCI (Industry Partner), and Invest India (Investment Facilitation Partner).

    Kolkata roadshow is the ninth major roadshow as part of pre-summit activities of North East Investors Summit and will be featuring presentations from representatives of the eight North Eastern states viz. Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura. These states will highlight various investment opportunities across key sectors, inter alia, including Infrastructure and Logistics, Agri & Allied industries, IT & ITES, Energy, Textiles, Handloom & Handicrafts, Tourism & Hospitality, Education & Skill, Healthcare, Entertainment and Sports. The roadshow will also feature B2G (Business-to-Government) meetings, which will provide a unique platform to investors to engage directly with State representatives and explore sectoral opportunities in the North Eastern Region.

    The North East Investors Summit to be organised by MDoNER, aims to attract investments and stimulate economic development. Previous roadshows in Mumbai, Hyderabad, Kolkata, Bengaluru, Ahmedabad and Chennai received strong participation.

    The Kolkata roadshow is the second of its kind in the city and aims to build on the momentum of previous event, offering a platform for investors to engage directly with state officials. Kolkata’s strategic proximity to the North Eastern states makes it an ideal gateway for investment and the success of earlier roadshows has reinforced investor confidence in the region, contributing to the realization of the Prime Minister’s vision of a ‘Viksit Bharat Viksit North East’.

    The recently held roadshow held in Chennai on 5th February, 2025, was attended by Shri Jyotiraditya M. Scindia, Hon’ble Union Minister for the Ministry of Development of North Eastern Region (MDoNER), was a remarkable success. The keen participation from investors in the B2G meetings marked the growing appeal of the region as an investment destination.

    The roadshow in Kolkata is expected to attract many potential investors eager to be part of the growth journey in North East India.

    *****

    Samrat/Dheeraj/Allen

    (Release ID: 2108387) Visitor Counter : 60

    MIL OSI Asia Pacific News –

  • MIL-OSI: Barnwell Industries, Inc. Disqualifies Ned Sherwood’s Board Nominees Included in Defective and Insufficient Nomination Notice for 2025 Annual Meeting

    Source: GlobeNewswire (MIL-OSI)

    Sets March 14, 2025, as Record Date for Shareholders to Act by Written Consent in Connection with Sherwood’s Latest Self-Serving Campaign to Take Control of Barnwell

    Sherwood’s Consent Solicitation is Yet Another Attempt to Steal the Company from Shareholders Without Paying a Premium for Control

    HONOLULU, March 05, 2025 (GLOBE NEWSWIRE) — Barnwell Industries, Inc. (NYSE American: BRN) (“Barnwell” or the “Company”) today announced that the Executive Committee of the Barnwell Board of Directors has disqualified the controlling slate of director nominees submitted by one of its shareholders, Ned Sherwood, in connection with 2025 Annual Meeting of Shareholders.

    As previously disclosed on February 25, 2025, the Executive Committee informed Sherwood that it rejected his nomination notice because it was defective and insufficient as it failed to include material information required by both the Company’s bylaws and federal securities regulations.

    Barnwell Sets Record Date for Sherwood’s Consent Solicitation

    Sherwood Continues to Seek Control of Barnwell with NO PLAN Other than to
    Take Control of the Company

    Sherwood is now aggressively pursuing shareholder approval to replace the entire Barnwell Board of Directors. This is yet another attempt by Sherwood to seize control of Barnwell at the expense of its public shareholders, without offering any premium for control. Moreover, despite repeated requests from the Company over several months, Sherwood has failed to present any alternative strategy for the Company, and after many months, his so-called plan is still forthcoming.

    Furthermore, Sherwood is now attempting to oust his own nominee, Doug Woodrum, a current Barnwell Board member, who was part of Sherwood’s slate for the upcoming 2025 Annual Meeting. Notably absent from Sherwood’s Consent Solicitation is another previously chosen nominee, Sherwood’s Chief Investment Officer, Ben Pierson, who was secretly buying Barnwell shares throughout 2024 while Sherwood was party to a Cooperation Agreement with the Company.

    Sherwood’s latest attempt to replace the entire Barnwell Board with his slate of hand-picked nominees continues his long history of disrupting the Company’s governance processes and interfering with the Company’s operations, while creating significant expense to the Company. Indeed, the Executive Committee has sought several times to avoid the cost and distraction of Sherwood’s actions, including a recent settlement offer whereby five of seven directors would be individuals expressly approved by Sherwood who would then become Chairman of the Board. However, Sherwood’s sole interest appears to be to have 100% control of the Board.

    Barnwell shareholders of record as of the close of business on March 14, 2025, are eligible to execute, withhold and revoke written consents. Barnwell expects to file preliminary consent revocation materials with the Securities and Exchange Commission (the “SEC”) in response to the preliminary consent solicitation statement filed by Sherwood on March 4, 2025.

    The Barnwell Executive Committee Comprises Majority Independent and
    Highly Experienced Directors Acting on Behalf of All Shareholders

    As Barnwell has disclosed, the current Board was expressly approved by Sherwood under a 2023 settlement whereby the Company and Sherwood each designated two directors. At that time, a fifth director, Joshua Horowitz, was selected as a compromise board member and was vetted by Sherwood and expressly endorsed by both parties to the settlement agreement.

    The Company also separately announced today that it has entered into a non-binding letter of intent to sell its water well subsidiary, as part of its ongoing plan to refocus on its core oil and gas exploration business and reduce general and administrative expenses, all of which actions have been previously endorsed by Sherwood.

    The Barnwell Executive Committee will continue to take actions that it believes represent the best interest of ALL Barnwell shareholders.

    The Company also announced that it expects to hold its uncontested 2025 Annual Meeting of Shareholders in its fiscal third quarter (second calendar quarter) of 2025. The record date and meeting date for the 2025 Annual Meeting have not yet been set.

    Forward-Looking Statements

    The information contained in this press release contains “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. A forward-looking statement is one which is based on current expectations of future events or conditions and does not relate to historical or current facts. These statements include various estimates, forecasts, projections of Barnwell’s future performance, statements of Barnwell’s plans and objectives, and other similar statements. Forward-looking statements include phrases such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “predicts,” “estimates,” “assumes,” “projects,” “may,” “will,” “will be,” “should,” or similar expressions. Although Barnwell believes that its current expectations are based on reasonable assumptions, it cannot assure that the expectations contained in such forward-looking statements will be achieved. Forward-looking statements involve risks, uncertainties and assumptions which could cause actual results to differ materially from those contained in such statements. The risks, uncertainties and other factors that might cause actual results to differ materially from Barnwell’s expectations are set forth in the “Forward-Looking Statements,” “Risk Factors” and other sections of Barnwell’s annual report on Form 10-K for the last fiscal year and Barnwell’s other filings with the Securities and Exchange Commission. Investors should not place undue reliance on the forward-looking statements contained in this press release, as they speak only as of the date of this press release, and Barnwell expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein.

    Important Additional Information and Where to Find It

    Barnwell Industries, Inc. (the “Company”) plans to file proxy materials with the U.S. Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies for the Company’s 2025 annual meeting of stockholders (the “2025 Annual Meeting”) and plans to file a consent revocation statement in connection with the Sherwood Group’s consent statement which, among other things, seeks to remove and replace the current members of the Board of Directors of the Company. Prior to the 2025 Annual Meeting, the Company will file a definitive proxy statement (the “Proxy Statement”) together with a WHITE proxy card. The Company will also file a definitive revocation statement (the “Revocation Statement”) together with a WHITE revocation card. STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND THE REVOCATION STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE COMPANY WILL FILE WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders will be able to obtain, free of charge, copies of the Proxy Statement, the Revocation Statement and any amendments or supplements thereto and any other documents (including the WHITE proxy card and WHITE revocation card) when filed by the Company with the SEC at the SEC’s website (http://www.sec.gov) or at the Company’s website at https://ir.brninc.com/ or by contacting Alexander Kinzler, Secretary and General Counsel of the Company, by phone at (808) 531-8400, by email at akinzler@brninc.com or by mail at Barnwell Industries, Inc., 1100 Alakea Street, Suite 500, Honolulu, Hawaii 96813.

    Certain Information Regarding Participants

    The Company, its directors and certain of its executive officers and other employees may be deemed to be “participants” (as defined in Section 14(a) of the Securities Exchange Act of 1934, as amended) in the solicitation of proxies from stockholders in connection with the 2025 Annual Meeting. Additional information regarding the identity of these potential participants and their direct or indirect interests, by security holdings or otherwise, will be set forth in the Proxy Statement and other materials to be filed with the SEC in connection with the 2025 Annual Meeting. Information relating to the foregoing can also be found in the Company’s definitive proxy statement for its 2024 annual meeting of stockholders, filed with the SEC on April 2, 2024. To the extent holdings of such participants in the Company’s securities have changed since the amounts described in the Proxy Statement, such changes have been reflected on Statements of Change in Ownership on Form 3 and Form 4 filed with the SEC: Form 3, filed by Craig Hopkins, with the filings of the Company on May 16, 2024; Form 4, filed by Craig Hopkins, with the filings of the Company on May 20, 2024, August 29, 2024, January 13, 2025 and January 17, 2025; Form 4, filed by Joshua Horowitz, with the filings of the Company on August 23, 2024 and October 28, 2024; Form 4, filed by Kenneth Grossman, with the filings of the Company on October 28, 2024; and Form 4, filed by Douglas Woodrum, with the filings of the Company on October 28, 2024. These filings can be found at the SEC’s website at www.sec.gov. More detailed and updated information regarding the identity of potential participants, and their direct or indirect interests (by security holdings or otherwise), will be set forth in the proxy statement and other materials to be filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

    CONTACTS:                         

    Investors:
    Bruce Goldfarb / Chuck Garske
    (212) 297-0720
    info@okapipartners.com

    Kenneth S. Grossman
    Vice Chairman of the Board of Directors
    Email: kensgrossman@gmail.com                

    The MIL Network –

  • MIL-OSI: ThinkMarkets Becomes Platinum Partner on TradingView

    Source: GlobeNewswire (MIL-OSI)

    LONDON, March 05, 2025 (GLOBE NEWSWIRE) — ThinkMarkets, a global leader in online CFD trading, has announced its new status as a Platinum partner on TradingView. Following its launch on TradingView earlier this year, ThinkMarkets has seen significant interest from both existing and new clients eager to trade on the platform. 

    To continue this growth and provide even better service to its clients worldwide, ThinkMarkets has upgraded to TradingView’s Platinum partnership level. This move enhances ThinkMarkets’ presence on TradingView by expanding its reach to a broader range of targeted countries and brings valuable benefits to clients, including an ad-free trading experience and exclusive trade ideas from ThinkMarkets’ expert analysts.

    Commenting on the news, Nauman Anees, CEO of ThinkMarkets, said: “We’re delighted to now have a Platinum plan on TradingView. At ThinkMarkets, our clients are the cornerstone of our success. This move allows us to further expand our reach in the active trader community on TradingView and demonstrates our commitment to providing a unique product tailored for traders and empowering them with the best trading services.” 

    Clients trading on TradingView with ThinkMarkets can expect exceptional trading conditions, access to thousands of products, and ultra-fast execution speeds, all the while having access to TradingView’s advanced charting tools and features. 

    To learn more about trading with ThinkMarkets on TradingView, users can click here. 

    About ThinkMarkets   
    ThinkMarkets is a global, multi-regulated online brokerage established in 2010 offering clients quick and easy access to 4,000+ CFD instruments across FX, indices, commodities, equities, and more. ThinkMarkets has offices in London, Melbourne, and Tokyo and hubs in the Asia-Pacific, Europe, and South Africa. It also operates with several financial licences around the globe and delivers some of the industry’s most recognised trading platforms, including its award-winning platform, ThinkTrader.

    For more information, users can visit ThinkMarkets website here.    

    Contact

    Chantelle Lea
    ThinkMarkets
    pr@thinkmarkets.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8d2ad0da-9754-4c76-8da7-788ff1fdaa70

    The MIL Network –

  • MIL-OSI: MEXC Launches Roam (ROAM) with Spot and Futures Trading, Offering 76,000 ROAM & 66,000 USDT to Drive Decentralized Connectivity

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles , March 05, 2025 (GLOBE NEWSWIRE) — MEXC, the world’s leading cryptocurrency trading platform, announced the listing of the Roam (ROAM) on both spot and futures markets, scheduled for March 6, 2025, at 10:00 (UTC). The launch on MEXC will be accompanied by Airdrop+ rewards of 76,000 ROAM & 66,000 USDT.

    Unleashing Roam: MEXC Supports the Future of Decentralized Connectivity and Blockchain-Powered WiFi

    Roam is redefining internet connectivity by merging blockchain technology with decentralized networking. Designed as a global WiFi network, Roam enables seamless roaming across locations while prioritizing security, privacy, and user incentives. Every connection and check-in within the network earns users rewards, fostering an ecosystem of engaged participants. At its core, Roam leverages OpenRoaming protocols and enterprise-grade components to provide a secure, high-quality internet experience. With the introduction of Roam Miner, users can further benefit from crypto mining, while Roam Tokens facilitate staking and rewards, integrating financial incentives with real-world connectivity.

    By listing Roam, MEXC underscores the growing synergy between blockchain, decentralized infrastructure, and real-world applications. With deep liquidity, seamless market access, and dedicated trading support, MEXC provides the ideal platform for Roam to expand adoption and drive the future of decentralized internet access.

    Celebrate the ROAM Launch with a prize pool of 76,000 ROAM & 66,000 USDT

    MEXC continues its commitment to supporting innovative blockchain projects with the listing of Roam (ROAM). The ROAM/USDT spot trading market will go live in the Innovation Zone on March 6, 2025, at 10:00 (UTC), followed by the launch of ROAM USDT perpetual futures at 10:10 (UTC), offering up to 50x leverage in both cross and isolated margin modes.

    To celebrate the official listing of $ROAM on MEXC, a 76,000 ROAM & 66,000 USDT reward pool will be available through a series of exclusive activities starting March 5, 2025, at 10:00 (UTC). Participants, both new and experienced, will have the opportunity to engage with Roam, explore its potential, and win ROAM, USDT bonuses, and other exciting rewards while contributing to the future of blockchain-powered connectivity.

    These activities include:
    Event 1: Deposit to Share 64,000 ROAM & 16,000 USDT (New User Exclusive).
    Event 2: Futures Challenge — Trade to Share 50,000 USDT in Futures Bonuses.
    The top 2,000 users with trading volumes over 20,000 USDT will share the reward pool, with individual rewards of up to 5,000 USDT.
    Event 3: Invite New Users and Share 12,000 ROAM.
    Event 4: Spread the Word and Win 2,000 ROAM in Bonus.

    Your Easiest Way to Trending Tokens

    MEXC aims to become the go-to platform offering the widest range of valuable crypto assets. The platform has grown its user base to 32 million by offering a diverse selection of tokens, high-frequency airdrops, competitive fees, and comprehensive liquidity. In 2024, MEXC launched a total of 2,376 new tokens, including 1,716 initial listings and 605 memecoins, with total airdrop rewards exceeding $136 million.

    About MEXC

    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 32 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent 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

    Contact:
    Lucia Hu
    PR Manager
    lucia.hu@mexc.com

    Disclaimer: This content 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.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f7c5199a-8138-4512-92d3-f33f4979eced

    The MIL Network –

  • MIL-OSI Economics: Jorgovanka Tabaković: Serbia 2027 – striving towards a high-income economy

    Source: Bank for International Settlements

    Slides accompanying the speech

    Honourable members of the Government, esteemed representatives of the diplomatic corps, respected business leaders, dear fellow economists, ladies and gentlemen,

    I would like to begin by saying, after the introductory remarks, that we should remember that the word “artificial intelligence” contains an essential falsehood in its name: artificial intelligence does not exist because creativity is inherently human. Artificial intelligence operates based on algorithms and the data input into the tools you have, such as your mobile phone. The trend of applying so-called artificial intelligence in all fields will ultimately have two consequences that are unacceptable for human civilisation – losing the truth and not knowing what is true versus what is a deep fake, and losing the human being, who is the only creative entity capable of making decisions and creating what is called “intelligence”. While artificial intelligence can perform many technical processes faster, easier, and more efficiently, it cannot think.

    Some say that one should not live in the past but always move forward. However, we have an obligation to respect the past to better understand where we are today and to have guidance for the future.

    And the past teaches us that nothing should be taken for granted, as there are no final victories! Neither peace nor stability should be assumed, as they are not a given! That is why I will reiterate my conclusions from the previous two forums – what distinguishes theory from practice is our responsibility towards people, growth and development, and social stability. We depend on the conditions of the times we live in, but also on the decisions which we make and for whose consequences we bear responsibility.

    Ladies and gentlemen,

    (Slide 2) In October 2024, Serbia officially received an investment-grade credit rating! Congratulations to everyone!

    I always emphasise, and I will do so again today, that on the economic front, no one can achieve much alone. No matter how brilliant they may be. This historic success is the result of teamwork by the President, the Government of the Republic of Serbia, and the National Bank of Serbia, and it belongs to all our citizens.

    By joining the ranks of the one-third of the world’s countries characterised by high business certainty, i.e. low investment risk, we have received yet another confirmation of the economic progress made over the past decade.

    Most of those present today surely remember the period when Serbia had one major portfolio investor who invested in the Republic of Serbia’s bonds. Just one. And that investor only invested in our country’s securities because the interest rates were exceptionally high, which brought them excellent returns.

    For many years now, the Republic of Serbia’s bonds have been recognised as comparable to those of countries with investment-grade ratings, sought after by a large number of the world’s largest global investors – those who have recognised our economic reform programme and all the results achieved over the past decade.

    And I will reiterate today that the credit rating is the result of good political and economic decisions in the country, as one cannot be separated from the other. The continuity of political stability is a necessary precondition for the substantial and by no means easy structural reforms that develop the society we are part of.

    We must preserve stability if we want a high-income economy – and I am sure that is the desire of everyone present at this forum today!

    We must preserve stability in this competitive world full of challenges, where changes in the global order are happening faster than ever, and where the economic gap between key economies is widening!

    This stability, along with sound policies, has enabled Serbia, even in the most complex conditions, to achieve numerous records last year!

    • Last year, we returned inflation within the target tolerance band of 3±1.5%, with growth that was among the highest in Europe!
    • We secured the country’s record-high FX reserves of EUR 29.3 bn, which is 120% higher than in the pre-pandemic period. Gold reserves also reached a record-high level, currently standing at 48.7 tonnes.
    • Dinar savings increased by nearly 40% last year.
    • We also saw record-high FDI worth EUR 5.2 bn.
    • Formal employment in the private sector is at a record high, with over 160,000 more people employed than in the pre-pandemic period.
    • The unemployment rate is at its lowest level.

    (Slide 3) The list of achievements is quite long, but the list of global risks is growing longer… That is why today, as we summarise the results and analyse the challenges, I will divide my presentation into four parts:

    1. I will start with inflation factors.
    2. I will continue with the measures of monetary and macroprudential policy.
    3. I will specifically discuss the indicators of our economy’s resilience to external risks.
    4. I will conclude with the National Bank of Serbia’s February projections, with a special focus on risks, various forms of risks, and their different effects on society and the economy.

    I will proceed in order.

    (Slide 4) Excellent news – in June last year, inflation was twice as low compared to end-2023, based on all key components – energy and food prices, as well as prices within core inflation.

    Amid unfavourable global and domestic weather conditions, inflation stabilised at around 4.3% in the second half of last year.

    • (Slide 5) It was precisely the unfavourable weather conditions that caused the prices of certain food commodities, such as cocoa and coffee, to rise sharply on global exchanges, which affected global food prices.
    • Additionally, the rise in prices of personal services remained elevated in many countries, which can be linked to the high growth in real wages, which constitute a significant part of the service sector’s costs.

    (Slide 6) When it comes to inflation factors, in the next few minutes, I will share the findings of our two studies.

    The first analysis provides additional quantitative evidence in support of lower inflationary pressures by comparing the distribution of y-o-y price increases for goods and services in the consumer basket, as seen in the charts. The data confirm that in 2024, there was a significant reduction in the share of goods and services that recorded double-digit growth. Around 25% of goods and services did not become more expensive, and 100 products and services in the consumer basket became cheaper in 2024.

    In the second analysis, we examined the phenomenon of faster price increases for cheaper brands compared to more expensive brands of the same products, creating an impression of higher inflation than the actual rate. This phenomenon has been colloquially termed cheapflation.

    The analysis shows that in Serbia, during the period from 2022 to 2024, which was marked by increased global pressures, the cumulative price increase for cheaper brands within the food and beverages category was 5 pp higher than for more expensive brands of the same products.

    • One of the reasons for this phenomenon is the low elasticity of demand for food, which is the lowest for the cheapest brands.
    • Also, more pronounced price increases often lead to the substitution of more expensive products with cheaper alternatives, thereby increasing demand for the cheapest brands and generating additional price pressures.
    • However, there is also the issue of an imperfect market structure, which makes it easier for increased costs of producers and merchants to be passed on to retail prices more than fully, a problem I have pointed out on several occasions.

    To conclude the first topic.

    Inflation has been curbed both domestically and globally. The good news is that in Serbia, we achieved this result in terms of inflation alongside high GDP growth!

    However, there is no room for complacency. Uncertain and dynamic developments in international commodity and financial markets call for caution, as evidenced by the rise in inflation late last year in many countries.

    (Slide 7) The second topic builds on the first – namely, the measures of monetary and macroprudential policy in 2024.

    With inflation returning within the target band in May last year, and with projections indicating movement around the midpoint by the end of the monetary policy horizon, conditions were created for the start of monetary easing.

    • Namely, we cut the key policy rate three times, by a total of 75 bp, to 5.75%.
    • Our measures were transmitted to money and credit market interest rates, with lending activity increasing by 8.2% and the dinarisation of receivables also going up.
    • Dinar savings recorded a record nominal increase of over RSD 53 bn, reaching over RSD 191 bn. This means that dinar savings are almost eleven times higher than in 2012! Let me remind you that the results of our latest analysis of the profitability of dinar and FX savings confirm that over the past twelve years, dinar savings have been more profitable than FX savings, both in the short and long term.
    • To protect the interests of financial service consumers, we also decided to temporarily cap interest rates on loan agreements concluded with citizens, which will be specifically regulated by law.
    • We also adopted regulations under our jurisdiction that will enable the implementation of the government programme for housing loans for young people.
    • In addition, and thanks to all of this, the share of NPLs in total loans fell to its lowest level of 2.5% in December.

    I conclude this topic by stating that our cautious approach is justified and that this is confirmed by the fact that we have achieved all three goals – low inflation in the medium term, high economic growth, and preserved financial stability of the country!

    (Slide 8) The third topic I will discuss is the resilience of the Serbian economy, which was confirmed even during 2024, amid continuous external shocks.

    • First, in 2024, we maintained relative stability of the dinar exchange rate against the euro, with the dinar gaining 0.1%.
    • Last year, we bought over EUR 2.7 bn net in the FX market, or EUR 11.2 bn since 2017, which has been an important factor behind the growth in FX reserves.
    • FX reserves stood at their record high of EUR 29.3 bn at end-2024, covering over seven months of imports of goods and services and 167% of money supply M1.
    • Gold reserves, which traditionally serve as a safe haven, rose to a record level of 48.7 tonnes, with their value being over seven times higher than in July 2012. The adequacy of our decisions is also confirmed by the fact that the price of gold in the global market increased by around 30% last year, and the rise continues this year.
    • GDP growth of 3.9% in 2024 was among the highest in Europe, driven by fixed investment and private consumption. The investment growth was supported by record-high profitability of the corporate sector, high FDI inflows, and government capital investment. At the same time, the growth in private consumption was driven by further increases in employment and real disposable income of the population.
    • The value of exports of goods and services in 2024 reached EUR 43 bn, which is nearly 85% higher than in the pre-pandemic year of 2019. Within the goods sector, manufacturing exports grew by nearly 3%, despite still weak external demand. The reason for this resilience is the strategic focus on production and geographical diversification of markets and investors. Exports of services are also growing on solid foundations, driven by exports of information and telecommunications services.
    • (Slide 9) FDI inflows were also record-high at over EUR 5.2 bn, despite all the uncertainties in the global market.
    • An important element of resilience is the responsible conduct of fiscal policy, with a fiscal deficit of 2% of GDP, despite strong government capital investment. Particularly important is the fact that the growth in fiscal revenues is based on solid foundations – increased profitability and positive factors in the labour market, while the application of special fiscal rules for pension and public sector wage growth continues.

    Esteemed participants of the Forum,

    All these results we are achieving, even in an environment characterised by low growth among our key trading partners, have secured us, for the first time in history, an investment-grade credit rating from Standard & Poor’s. Once again, congratulating all citizens on this success, I would like to say that we would certainly have received not only a positive outlook from Fitch but also the rating if political circumstances had not led to the agency’s caution.

    (Slide 9) The final topic concerns our expectations going forward and the challenges facing economic policymakers. However, before I move on to the projections, I would like to highlight the trends I have been discussing for years, often at this very place. However, it seems to me that it has never been more important to discuss this!

    “Say goodbye to the world you knew – today we live in a new era!” The conditions in which we operate economically are the most challenging, and technologically the most advanced! This is a time of enormous social divisions in all countries. In diplomatic terms, we define this as an unprecedented polarisation of society. “People always know about misfortune and evil, but good remains hidden”, said Meša Selimović.

    A particular challenge today is conducting policies in the era of fake news, and in an environment where individuals believe that policies can be pursued through social networks. I have been highlighting this phenomenon for several years as a major risk to society and democracy. And it has long been said that people can be divided into two groups: those who move forward and achieve something, and those who follow them and criticise. I will reiterate: healthy scientific and social scepticism that questions everything is always welcome, and that is why we are here. However, scepticism that questions growth and development has no social or economic basis. And any influence that leads to a slowdown in potential growth has a direct negative effect on people’s standard of living and prospects for progress!

    I will now move on to the projections.

    • Regarding inflation, we expect that in Q1, y-o-y inflation will move around the upper bound of the target tolerance band. For the rest of the year, we expect it to gradually slow down and approach the midpoint by the end of the year, which is the level around which it will move until the end of the projection horizon.
    • Such inflation dynamics will be supported by continued restrictive monetary policy conditions, lower imported inflation, an expected slowdown in real wage growth, an expected decline in petroleum product prices, in line with futures, and an expected decline in fruit and vegetable prices, assuming an average agricultural season this year.
    • In terms of economic activity, we expect a further acceleration in GDP growth to 4.5% this year. For the next two years, we project growth between 4% and 5%, i.e. closer to 5% in 2027, when the “Expo” will be held.Such GDP growth will be driven by domestic demand, with growth in private consumption supported by:
      • positive trends in the labour market and further increases in disposable income, as well as
      • more favourable monetary conditions.
        At the same time, we expect that wage growth in the medium term will be in line with productivity growth, contributing to medium-term price stability.
    • Fixed investment growth will be supported by:
      • increased profitability of the corporate sector in previous years,
      • planned high government capital investment in transport, energy, and utility infrastructure, as well as
      • more favourable financial conditions.
    • We also expect continued FDI inflows, which will, through new technologies and more modern equipment, as well as new knowledge, contribute to the growth in total factor productivity.
    • All of this together will contribute to further growth in both private and government investment, as well as its share in GDP of over 25% in the medium term.
    • Due to the acceleration of the investment cycle and growth in private consumption, we expect that this year and the next, imports of goods and services will grow slightly faster than exports, resulting in a negative contribution of net exports to economic growth. On the other hand, in 2027, when the “Expo” will be held, we expect the contribution of net exports to be positive.

    Of course, these, like all macroeconomic projections, are accompanied by numerous global risks, which I will present in a slightly different way than usual. I repeat, I will provide a global context.

    • First, long-standing geopolitical tensions have been further exacerbated by the rise of global protectionism. Along with disruptions related to climate change, they continue to influence the volatility of global energy and other primary commodity prices and may have negative effects on both global economic growth and inflation.
    • Furthermore, one of the growing structural problems, which the IMF particularly highlighted in October, is the widening income gap between Europe and the United States. The income gap reflects declining productivity growth in Europe, which extends to the level of individual enterprises. The response to such movements implies structural changes in the European economy, of which we are a part, with the aim of increasing productivity and competitiveness.
    • This is also supported by the accelerated development of the so-called artificial intelligence, which brings enormous transformative changes, creating both opportunities and challenges! According to the findings of the World Economic Forum, in the period from 2025 to 2030, structural changes driven by artificial intelligence in the labour market will create around 14% of new jobs, while around 7% of existing jobs will be eliminated. Thus, the net effect of these changes will be positive in terms of creating new jobs, but the distribution of these changes across regions and countries remains to be seen. For our region to have such an outcome, we must work together to ensure that the transformation, which is inevitable, proceeds in a way that the closure of some jobs opens doors to others, of higher quality.
    • This also requires a deeper analysis of demographic trends, namely the process of reducing the working-age population, which is a challenge for all countries. And that is why it is important to invest in people and activate that part of the population that is outside the active labour force.

    When it comes to new sources of growth, I first want to state that the current growth model in Serbia has proven to be good. Ten years ago, in 2014, the share of investment in GDP was around 16%, and in 2024 – around 24%. The share of government investment was only 2.2%, and in recent years, it has been over 7%. The unemployment rate has been reduced from over 20% to around 8%, while youth unemployment has more than halved, and the number of formally employed people has increased by almost 400,000! The coverage of the average consumer basket by the average wage is at its highest level, around 95%, and is 30 pp higher than ten years ago! Thus, the current growth model has proven to be good!

    When we talk about the coming period and new sources of growth, it is certainly best to have innovations and new technologies, where domestic companies should also play a significant role. Unfortunately, the key new technologies that will shape the world in the coming decades are in the hands of the United States and China, and the technological gap is widening. And it is precisely here, and for this reason, that there is room for greater cooperation and integration at the level of the entire European market.

    I will also recall the October analysis by the IMF, which highlights that a deeper and larger single European market would stimulate the necessary growth in productivity. It notes that the two previous waves of enlargement – in 1995 and 2004 – brought benefits not only to the countries joining the EU but also to the founding member states of the EU, which experienced significant income growth. Therefore, a joint response in terms of developing new technologies could have a multiplier effect on the growth and development of all European economies!

    Esteemed participants of the Business Forum,

    I have spoken about global risks and potential responses, particularly from policymakers in Europe, of which we are a part. Among domestic risks, I highlight the potentially missed opportunities for high growth and the time needed to return to the trajectory we have secured, which places us at the top of Europe in terms of growth.

    That is why today, as in previous forums, I will remind everyone that we have an obligation never to forget that stability is priceless, and there is no alternative to it. Without stability, any discussion about sustainable income growth and societal development loses its meaning!

    On behalf of the NBS, I can promise:

    • we will continue to work in the public interest,
    • relative exchange rate stability has no alternative,
    • there will be no negative interest rates in Serbia, as money must fulfil one of its fundamental roles – to earn through savings and the concept of interest. “Negative interest rates are a sign of central banks’ desperation, not a solution to economic problems.”

    In every decision we make, we have been and will continue to be guided by the stability of the system! I believe that in these uncertain times, this is the key to duration. We cannot influence the policies and decisions of major powers, but we can and must support our development opportunities.

    Finally, I congratulate the Serbian Association of Economists on their well-deserved selection as the host of the 21st World Congress of Economists, which will be held in June next year!

    And finally, I ask you all, not expecting an answer: how many phone numbers do you know if you were to lose your phone and the contacts stored in it? Do you know how to calculate a discount on prices when you’re out shopping? And how will your children, who rely on ChatGPT and mobile phones to do their homework, manage if, at some point, they can’t charge their phone or if someone, just for fun, takes away their phone and all these devices that represent progress and development? Never forget that, above all, we are human beings who must think for ourselves, make our own decisions, and not forget the most basic things – to use our own brains and our own hearts!

    Thank you all. I wish you a successful 32nd Kopaonik Business Forum.

    MIL OSI Economics –

  • MIL-OSI: Tata Electronics, Himax Technologies and Powerchip Semiconductor Manufacturing Corporation Form Alliance to Revolutionize India’s Display and Ultralow Power AI Sensing Product and Technology Ecosystem

    Source: GlobeNewswire (MIL-OSI)

    TAINAN and HSINCHU, Taiwan and MUMBAI, India, March 05, 2025 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (“Himax” or “Company”) (Nasdaq: HIMX), an industry leader in fabless display driver ICs and other semiconductor products, today announced a Memorandum of Understanding (MoU) with Tata Electronics, a pioneering leader in India’s electronics manufacturing sector, and Powerchip Semiconductor Manufacturing Corporation (PSMC), a leading Taiwanese Foundry and Technology Transfer Partner of Tata Electronics, to revolutionize India’s display and ultralow power AI sensing product and technology ecosystem. This MoU marks a significant step forward for Tata Electronics, Himax, and PSMC in expanding their market outreach and jointly exploring the growing market of display semiconductors and ultralow power AI sensing in India as well as globally.

    Tata Electronics, Himax, and PSMC aim to leverage their respective strengths to deliver comprehensive, end-to-end display semiconductor solutions for their mutual customers, from chip design to chip manufacturing and packaging, as well as electronics manufacturing services (EMS) to deliver system-level solutions, to both the Indian and global markets. The parties will collaborate closely to develop solutions focusing on “Made in India” requirements. The partnership also encompasses designing and manufacturing next-generation solutions to meet global demand while enhancing supply chain resilience.

    Building on the landmark 2024 agreement between Tata Electronics and PSMC to establish advanced semiconductor manufacturing capabilities in India, today’s announcement paves the way for innovative display solutions tailored to the domestic market.

    Dr Randhir Thakur, CEO and MD of Tata Electronics, said, “This MoU with Himax and PSMC will enable the development of differentiated solutions for display-related semiconductor products for our mutual customers. By combining Tata Electronics’ capabilities with Himax’s unparalleled expertise in display semiconductors and WiseEye™ ultralow power AI sensing and PSMC’s proven manufacturing solutions, we are creating a powerful ecosystem that addresses both domestic and global needs for the display semiconductor market. Together, we will drive innovation and develop next-generation technologies to meet the growing demands of display and ultralow power AI sensing technologies across key industries while contributing to a resilient semiconductor supply chain.”

    Mr. Jordan Wu, Co-Founder and CEO of Himax Technologies, Inc., said, “We are delighted to join forces with Tata Electronics and PSMC to drive innovation in India’s rapidly expanding display semiconductor market. India is emerging as a key hub for electronics development and manufacturing, presenting immense opportunities for growth and technological advancement. Through this collaboration, we aim to bring Himax’s industry-leading expertise in display semiconductors and WiseEye™ ultralow power AI sensing to support India’s ‘Made in India’ initiative while enhancing global supply chain resilience. This partnership underscores our commitment to delivering cutting-edge display solutions that cater to the evolving needs of both Indian and international markets.” 

    Mr. Martin Chu, President of PSMC, said, “PSMC’s portfolio of semiconductor fabrication technologies is well-suited to meet the growing ‘Made in India’ requirements. We look forward to this partnership with Tata Electronics and Himax, as it provides a unique opportunity to expand our collective footprint and gain significant share in both the domestic and global display semiconductors and ultralow power AI sensing markets.”

    About Tata Electronics Private Limited
    Tata Electronics Pvt. Ltd. is a prominent global player in the electronics manufacturing industry, with fast-emerging capabilities in Electronics Manufacturing Services, Semiconductor Assembly & Test, Semiconductor Foundry, and Design Services. Established in 2020 as a greenfield venture of the Tata Group, the company aims to serve global customers through integrated offerings across a trusted electronics and semiconductor value chain. With a rapidly growing workforce, the company currently employs over 65,000 people and has significant operations in Gujarat, Assam, Tamil Nadu, and Karnataka, India. Tata Electronics is committed to creating a socio-economic footprint by employing many women in its workforce and actively supporting local communities through initiatives in environment, education, healthcare, sports and livelihood.

    About Powerchip Semiconductor Manufacturing Corporation
    Powerchip Semiconductor Manufacturing Corporation (PSMC) is the world’s seventh-largest pure-play foundry, with four 12-inch and two 8-inch fabs in Taiwan, capable of producing over 2.1 million 12-inch equivalent wafers annually. Since its establishment in 1994, the company transitioned successfully from DRAM manufacturing to advanced foundry services for memory and logic chips. Ranked seventh in global semiconductor ESG evaluations, PSMC demonstrates strong governance and environmental commitment. In May 2024, PSMC’s new 12-inch fab in Taiwan’s Tongluo Science Park began operations with a planned capacity of 1.2 million wafers annually, using advanced 28nm and wafer stacking technologies.

    About Himax Technologies, Inc.
    Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEye™ ultralow power AI sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,649 patents granted and 402 patents pending approval worldwide as of December 31, 2024.

    http://www.himax.com.tw

    Forward Looking Statements
    Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2023 filed with the SEC, as may be amended.

    Himax Contacts

    Eric Li, Chief IR/PR Officer
    Himax Technologies, Inc.
    Tel: +886-6-505-0880
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw
      
    Karen Tiao, Investor Relations
    Himax Technologies, Inc.
    Tel: +886-2-2370-3999
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw

    Mark Schwalenberg, Director
    Investor Relations – US Representative
    MZ North America
    Tel: +1-312-261-6430
    Email: HIMX@mzgroup.us
    www.mzgroup.us

    The MIL Network –

  • MIL-OSI: Bitget Lists Mint Blockchain (MINT) in the Innovation and Public Chain Zone

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, March 05, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of Mint Blockchain (MINT), a Layer2 blockchain focusing on the NFT ecosystem. Trading for MINT/USDT will commence on 7 March 2025, 08:00 (UTC)

    Mint Blockchain is built on the OP Stack, positioning it as a native Layer2 solution and a core member of the Optimism Superchain. As a visionary force propelling the NFT industry into a new era, Mint Blockchain’s vision is to connect global consumers with NFTs and build a decentralized network focused on NFT issuance, trading, and settlement, making NFTs the most unrestricted value carrier in the crypto world. The Mint team is actively developing a comprehensive suite of open-source infrastructure around NFT assets on Mint Blockchain, including NIPs Platform, Mint Studio, IP Layer, Mint Liquid, and NFT-AI Agent.

    The Mint mainnet was launched in May 2024, marking the beginning of its ecosystem development phase. With lower gas fees, diverse NFT standards, and a developer-friendly environment, the Mint ecosystem currently has more than 100 applications and more than 6 million wallet addresses on the chain.

    The inclusion of MINT on Bitget’s platform is expected to offer users a new opportunity to explore the most standout project promoting and driving innovation in NFT standards. This listing further strengthens Bitget’s position as a platform for innovative digital assets, enabling users to explore new opportunities in an evolving market.

    Bitget has consistently expanded its market share in both spot and derivatives trading among centralized exchanges. With a focus on providing users with opportunities to invest in different projects, the platform is now one of the top 5 crypto trading platforms with over 900 assets, including tokens from ecosystems such as TON, Ethereum, Solana, Base, and more.

    For more information on Mint Blockchain (MINT), users can visit here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 100 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.
    Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

    Contact

    Simran Alphonso
    media@bitget.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3388787a-402d-4726-9dad-9b323d8e96f7

    The MIL Network –

  • MIL-OSI: DNO Participates in Mistral Discovery; Eyes Quick Tieback

    Source: GlobeNewswire (MIL-OSI)

    Oslo, 5 March 2025 – DNO ASA, the Norwegian oil and gas operator, today confirmed a gas/condensate discovery on the Mistral prospect in the Norwegian Sea license PL1119 in which the Company’s wholly-owned subsidiary DNO Norge AS recently acquired a 10 percent interest.

    The well encountered a 45-meter hydrocarbon column with good reservoir properties in the Garn Formation. Preliminary estimates of gross recoverable resources encountered are in the range of 19-44 million barrels of oil equivalent. In addition to DNO, license partners include Equinor Energy AS (50 percent and operator), OKEA ASA and Pandion Energy AS (20 percent each).

    Located some 20 kilometers southwest of Equinor’s ongoing Lavrans subsea development, the Mistral discovery is a candidate for a fast-track tieback to this field. Given the good reservoir properties, the discovery likely allows for simplified development solutions.

    To diversify its exploration portfolio, DNO entered into the Mistral license through a swap agreement with OKEA announced on 19 December 2024, shortly before spud date of the discovery well. In exchange, OKEA picked up a 10 percent interest in North Sea license PL1109 containing the Horatio prospect, in which DNO has retained a 20 percent interest. Exploration drilling is ongoing at Horatio. The DNO-OKEA transaction is subject to government approval.

    Further south, DNO is currently drilling its Kjøttkake exploration well in North Sea license PL1182S in which the Company holds a 40 percent operated stake.

    – 

    For further information, please contact:
    Media: media@dno.no
    Investors: investor.relations@dno.no

    – 

    DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d’Ivoire, Netherlands and Yemen.

    This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

    The MIL Network –

  • MIL-OSI: BW Offshore: Company presentation

    Source: GlobeNewswire (MIL-OSI)

    Company presentation

    BW Offshore is presenting at DNB Energy & Shipping Conference today. Please see the attached presentation.

    For further information, please contact:
    Ståle Andreassen, CFO, +47 91 71 86 55
    IR@bwoffshore.com or www.bwoffshore.com

    About BW Offshore:
    BW Offshore engineers innovative floating production solutions. The Company has a fleet of 3 FPSOs with potential and ambition to grow. By leveraging four decades of offshore operations and project execution, the Company creates tailored offshore energy solutions for evolving markets world-wide. BW Offshore has around 1,100 employees and is publicly listed on the Oslo stock exchange.

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

    Attachment

    The MIL Network –