NewzIntel.com

Category: Trade

  • MIL-OSI United Kingdom: Minister for European Union Relations speech at EU-UK Forum

    Source: United Kingdom – Government Statements

    A speech delivered in Brussels at the EU-UK Forum by Nick Thomas-Symonds, Minister for European Union Relations.

    Many thanks, Paul, and many thanks to the EU-UK Forum for organising this conference.

    And, of course, for the invitation for me to come along to speak.

    I suppose I should also say a big thank you to the Prime Minister for the warm-up act last night.

    It’s a real pleasure to share a stage with my EU counterpart Maros Sefcovic.

    Even though, of course, Maros joined us virtually, our mutual goal of reaching a better UK EU relationship is very real.   

    And today, I want to explain why that is so important…

    …what it could mean for the UK and for Europe…

    …and what I believe the defining structure of that relationship could look like. 

    It is obvious to me – as I am sure it is to all of you – that at a time of such intense global change, the UK and the EU have many mutually aligned interests and challenges.

    We want increased prosperity…

    … we want to strengthen our security…

    …and we want our citizens to be safe. 

    Those joint challenges that we face were powerfully set out by our UK Chancellor, Rachel Reeves…

    …and, indeed, the President of the European Commission, Ursula von der Leyen just last week.

    In her growth speech, my Friend the Chancellor didn’t shy away from the economic challenges that we are confronting. She said:

    “Growth will not come without a fight. Without a government willing to take the right decisions now to change our country’s future for the better.  

    “But for too long, that potential has been held back.”  

    On the same day, the President von der Leyen presented the ‘Competitiveness Compass’ saying that, and I quote:

     “Europe has everything it needs to succeed. But, at the same time, we must fix our weaknesses to regain competitiveness.” 

    The ‘Competitive Compass’ sets out the importance of “trade openness”, “not only for sustaining Europe’s prosperity, but also for enhancing its resilience”.

    We know that low growth is not the destiny for our economies. 

    Research and innovation…

    …reducing red tape…

    …a new skills agenda…

    …boosting productivity…

    …a more resilient economy…

    …all these elements found in the Compass are also crucial parts of the Prime Minister’s Plan for Change.  

    These are areas of mutual interest to both of our economies

    It is also clear about the vital interconnection between security and prosperity…

    …that is why the work we are all engaged in – that Maroš and I are driving forward – is so vital.

    In the UK and indeed in Brussels – we are clear-eyed about the scale of challenges that we face – and the opportunities for growth and innovation.

    The European Union is the UK’s biggest trading partner, with trade totalling – in 2023 – over £800bn.

    Many of our best education and science facilities have lifelong links…

    …and our collaboration on research and development has been the springboard for hugely successful innovations that have driven growth and jobs. 

    And in a more uncertain world, we are regularly reminded that allies are more secure together than they are apart.

    This Government’s position is simple: the UK and the EU are linked through trade and international organisations like NATO…

    …and even though we voted to leave the EU, our role as key allies and trade partner remains.

    We know that for these relationships to flourish, trust is a vital ingredient.  

    This Government recognises that the UK’s signature means something.

    So, we are committed to implementing the Trade and Co-operation Agreement and the Windsor Framework and building on that structure to address emerging challenges and opportunities.

    Now, I want to say – straightforwardly – that we see real opportunities to improve the status quo.

    As ‘Businesseurope’ set out in their report this Autumn: 

    “There remain many unnecessary barriers to trade and investment. Following the elections of new governments in the EU and UK, there is a clear opportunity to upgrade the relationship to deliver for businesses and citizens.”

    I agree with them. 

    A study published last year showed that between 2021 and 2023, the goods EU businesses export to the UK were down by 32%…

    …while UK goods exports to the EU were down by 27%.

    That is not good for British business or European businesses…

    …especially at a time when our economies need a kickstart. 

    Reducing trade barriers is of mutual benefit to the UK and the EU. 

    [redacted political content]

    It was vital that we re-joined Horizon…

    …we should never have left in the first place…

    …but the gap in continuity and other challenges means we haven’t together achieved as much as we could have done.

    It’s especially bad when global competition for innovation has never been fiercer.

    When the UK should have been working more closely with international law enforcement on security…

    …we frankly wasted years undermining the role of the ECHR, in pursuit of a doomed Rwanda deportation scheme.

    We cannot continue in this way with one of our largest, most important partners… 

    …that is why this Government will always work in the UK’s national interest…

    …and for me, that means being a ruthlessly pragmatic negotiator.

    That means making the case for closer working with our allies in the EU, to make people across the UK and the EU safer, more secure and more prosperous…

    …that means making sure that we are working to strengthen cooperation, moving away from a zero sum, win, lose dynamic we have seen in recent years…

    …and that is the spirit I take into discussions with the EU. 

    The UK and the EU have many mutually beneficial interests… 

    …I want to build on these as we work to reset our relationship…

    …to help construct a more secure, a safer and a more prosperous UK and EU. 

    Now this British Government was elected on a mandate…

    …to strengthen national security by reconnecting with our allies…

    …to increase people’s safety through strong borders…

    …and increase prosperity through growth.

    Our European friends are a part of every single one of those priorities…

    …and I believe it’s these priorities that form the three pillars of a reset in our relationship.

    On security – you saw yesterday how seriously we’re taking this.

    Our Prime Minister met with all 27 of the EU leaders and the Secretary General of NATO… 

    …discussing the common threats we face…

    …and the value that closer EU-UK cooperation on defence could bring…

    …whether it’s securing undersea cables or working together on research and development. 

    On safety – I am clear that if we want to protect our respective borders and keep our citizens safe, then we need to work together.

    That is the only way we’re going to break up the vile global trade in human trafficking…

    …that’s the only way to tackle organised crime and terrorism, which plagues us all. 

    And on prosperity – if we want to grow our economies…

    …and boost our living standards…

    …then we need to reduce barriers to UK and EU trade. 

    And I am pleased to say that – that on all three of these issues – we are making progress. 

    On security, the Prime Minister and the President of the European Council have made clear they wanted closer cooperation on security and defence…

    …and the EU High Representative and the Foreign Secretary have already agreed to new six-monthly Foreign Policy dialogues 

    On safety, we have already increased the UK’s presence at Europol…

    …but I want us to go further. 

    We need to find to find ways to better coordinate law enforcement so that we can smash the gangs behind the small boats. 

    To make people safer, we must do all we can to strengthen our collective ability to tackle organised crime and work together on illegal migration.

    Afterall, these are shared challenges. 

    And on prosperity, we have said we will seek to negotiate a Sanitary and Phytosanitary agreement to remove barriers to trade…

    …and find ways to resolve issues like the Mutual Recognition of Professional Qualifications.

    We can go much further on energy and the green transition.

    Our Government’s commitment is to Make Britain a Clean Energy superpower by 2030… 

    …and together, we need to deliver energy security so that we are never again left exposed as we were when Russia – illegally – invaded Ukraine.

    These challenges all span borders and we must work together to seize opportunities that lie ahead.

    All of this work is supported by much greater cooperation between the UK Government and the EU. 

    Right from the very top – with the Prime Minister meeting with President von der Leyen and Council President Costa…

    …agreeing to a leader-level summit that will be held in May, where we hope we can deliver a balanced, yet ambitious outcome to benefit all of our citizens.

    Just before Christmas, our Chancellor attended a meeting of the EU finance ministers…

    …the first time a British Chancellor has been invited to the Eurogroup since Brexit.

    These meetings form only some of the nearly 70 direct engagements…

    …between UK Ministers and our EU counterparts since coming into Government…

    …and I look forward to many more ahead. 

    And I say to you all: I look forward to working with you throughout this year and into the future.

    But ladies and gentlemen – the time for ideologically-driven division is over…

    …the time for ruthless pragmatism is now.

    It is through a new partnership between the UK and the EU that we will deliver for the people of the United Kingdom, and for people across the continent.

    The future of the EU and the UK lies beyond the status quo…

    …reaching forward to deliver benefits for all our people to share.

    So, let us rise to our shared challenges and grasp this opportunity.

    Because together we will create a stronger UK and we will create a stronger Europe.

    Thank you very much.

    Updates to this page

    Published 4 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: 1 more detainee returns to HK

    Source: Hong Kong Information Services

    The Security Bureau today said that a Hong Kong resident who was recently rescued after being detained in Myanmar where she was forced to work illegally, has departed Thailand for Hong Kong this afternoon with the bureau’s dedicated task force.

    The task force met the Hong Kong resident concerned in Bangkok this morning, following the confirmation of her rescue in Myanmar and safe arrival in Thailand, and was delighted to find that she was in good mental and physical condition.

    She expressed gratitude for the task force’s active co-ordination and liaison with relevant units of the Thai authorities as well as for the assistance of different parties that enabled her to return home to reunite with her family as soon as possible.

    The bureau thanked the Office of the Commissioner of the Ministry of Foreign Affairs in the Hong Kong Special Administrative Region; the Chinese Embassy in the Republic of the Union of Myanmar; the Chinese Embassy in the Kingdom of Thailand; the Consulate General of the People’s Republic of China in Chiang Mai; the Consulate-General of Myanmar in Hong Kong; the Royal Thai Consulate-General, Hong Kong; and the Hong Kong Economic & Trade Office in Bangkok.

    The task force is actively following up on the remaining nine requests for assistance involving Hong Kong residents who have yet to return.

    MIL OSI Asia Pacific News –

  • MIL-OSI United Kingdom: Crackdown on illegal wildlife products at the border

    Source: United Kingdom – Executive Government & Departments

    Thousands of unlicensed and illegal wildlife products have been seized by Border Force as part of Operation Thunder.

    Operation Thunder is an intensive international operation to target the criminal networks behind wildlife crime,

    From 11 November to 6 December 2024, Border Force officers taking part in Operation Thunder 24 made 217 seizures of wildlife products which are controlled by the Convention on International Trade in Endangered Species of wild fauna and flora (CITES).

    Seizures included live plants, a range of beauty products containing caviar and cactus extracts, a quantity of bear bile, and clothes and accessories containing animal skins.

    Border Force officers also detected over 400 live birds as part of the operation, including rosella parakeets, king parrots, African grey parrots and blue-fronted Amazon parrots. Where possible, Border Force will rehome any live animals found.

    Operation Thunder is a global effort to target the illegal wildlife trade and is co-led by Interpol and the World Customs Organisation (WCO).

    Wildlife crime is estimated to be worth up to £17 billion globally per year and is the fourth largest international crime according to Interpol, behind only arms, drugs and human trafficking. Strengthening border security and breaking the criminal networks that seek to abuse our borders is a key part of the government’s plan for change.

    Minister for Migration and Citizenship, Seema Malhotra said:

    Detecting and seizing illegal wildlife products is not just a matter of enforcement, but a vital act of preservation for this planet’s biodiversity.  

    The work of Border Force in interrupting this serious organised crime is critical to the UK’s efforts to regulate the international trade in endangered species.

    Border Force Director for National Operations, Danny Hewitt said:

    Wildlife crime is a serious organised crime which fuels corruption, threatens species with extinction, deprives some of the world’s poorest communities of sustainable livelihoods, and degrades ecosystems.

    We take an intelligence-led approach to detecting illegal trade and work closely with our partners across the global community to share training, expertise and skills.

    Minister for Nature, Mary Creagh said:

    Tackling wildlife crime is essential to protecting iconic biodiversity at home and abroad. Criminal gangs must face justice for the part they play in nature destruction for self-gain.

    These figures reflect the invaluable role of the Border Force in safeguarding wildlife, and are an example of international collaboration to combat global criminal networks.

    Border Force works closely with other enforcement agencies, both nationally and internationally, to tackle the illegal wildlife trade and keep borders secure. This includes the Department for Environment, Food and Rural Affairs (Defra), the Animal and Plant Health Agency (APHA), London Heathrow Animal Reception Centre and Royal Botanic Gardens, Kew, amongst others.

    This year’s Operation Thunder was also supported by the police, who executed 5 warrants in relation to bird egg smuggling. This has so far resulted in the confiscation of over 5,000 bird eggs.

    Operation Thunder 24 led to seizures in the UK which included:

    • over 400 live birds (51 CITES listed)
    • 7kg of ivory
    • 450 live plants
    • 315kg of beauty products containing caviar
    • over 2,500 pills and 21.5kg of powders containing endangered plant and animal species
    • live corals
    • snow leopard garments

    Border Force is responsible for frontline detection and seizure of items covered by the CITES convention, which tackles the illegal trade in endangered animals and plants. The Heathrow-based Border Force CITES team are specialist officers who are recognised as world leaders in their field.

    Border Force’s work to prevent the trade of unregulated and illegal products made from endangered species is helping the government in its safer streets mission by smashing organised crime.

    Anyone with information about activity they suspect may be linked to smuggling and trafficking of any kind can report it online using the report smuggling service.

    Updates to this page

    Published 4 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Security: Nearly 20,000 live animals seized, 365 suspects arrested in largest-ever wildlife and forestry operation

    Source: Interpol (news and events)

    4 February 2025

    138 countries and regions join forces to target fauna and flora trafficking worldwide

    LYON, France – Nearly 20,000 live animals, all endangered or protected species, have been seized in a global operation against wildlife and forestry trafficking networks, jointly coordinated by INTERPOL and the World Customs Organization (WCO).

    Operation Thunder 2024 (11 November – 6 December) brought together police, customs, border control, forestry and wildlife officials from 138 countries and regions, marking the widest participation since the first edition in 2017.

    Authorities arrested 365 suspects and identified six transnational criminal networks suspected of trafficking animals and plants protected by the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). Such species are illegally trafficked to meet specific market demands, whether for food, perceived medicinal benefits, “luxury” and collector items or as pets and competition animals.

    Globally, more than 100 companies involved in the trafficking of protected species were identified.

    The operation led to the rescue of 18 big cats, including these tiger cubs in the Czech Republic.

    The seized animals were sent to conservation centres, where their health was assessed while awaiting repatriation or rehabilitation.

    Organized crime networks profit from the demand for rare plants and animals, like this bird seized in Mexico.

    More than 5,877 live turtles were seized during Operation Thunder, including these ones in Tanzania.

    Morocco conducted intelligence-led investigations and seized over 50 snakes of various species.

    12 live pangolins were seized during the action weeks, such as this one in Mozambique.

    These Oryx were seized in Iraq. The collection of DNA is a crucial part of supporting prosecutions.

    1,731 other reptiles were seized live, like these blue-tongued lizards in Australia.

    Overall, nearly 20,000 live animals, all endangered or protected species, were rescued.

    33 protected primates were seized during the operation, this one was discovered in Chile.

    An example of a deer seized in North Macedonia during the operation that was jointly coordinated by INTERPOL and the World Customs Organization (WCO).

    This primate was rescued in Indonesia during Operation Thunder.

    The live animals, which included big cats, birds, pangolins, primates and reptiles were rescued in connection with 2,213 seizures made worldwide.

    Where possible, wildlife forensic experts collected DNA samples before transferring the animals to conservation centres, where their health was assessed while awaiting repatriation or rehabilitation, in line with national frameworks and relevant protocols.

    The collection of DNA is a crucial part of supporting prosecutions, as it helps confirm the type of species and its origin or distribution, shedding light on new trafficking routes and emerging trends.

    Large-scale trafficking of animal parts, plants and endangered species

    In addition to the live animals, participating countries seized hundreds of thousands of protected animal parts and derivatives, trees, plants, marine life and arthropods.

    Timber cases represent the most significant seizures, primarily occurring in sea cargo container shipments, while most other seizures took place at airports and mail processing hubs.

    Authorities also investigated online activities and found suspects using multiple profiles and linked accounts across social media platforms and marketplaces to expand their reach.

    More than 100 companies involved in the trafficking of protected species were also identified.

    Valdecy Urquiza, INTERPOL Secretary General said:

    “Organized crime networks are profiting from the demand for rare plants and animals, exploiting nature to fuel human greed. This has far-reaching consequences: it drives biodiversity loss, destroys communities, contributes to climate change and even fuels conflict and instability.

    “Environmental crimes are uniquely destructive, and INTERPOL, in cooperation with its partners, is committed to protecting our planet for future generations.”

    Ian Saunders, WCO Secretary General, said:

    “Operation Thunder continues to shed light on a crime that is often not a priority for enforcement actors. Through our joint efforts we have established cooperation mechanisms that facilitate the exchange of information and intelligence, and we have refined our enforcement strategies.

    “The illegal wildlife trade is still rapidly growing, highly lucrative and has devastating effects. The WCO remains committed to supporting its members and partners to effectively combat this serious crime.”

    This leopard hide was seized in Namibia, during the largest-ever global operation against wildlife and forestry trafficking.

    As well as this leopard skin coat discovered in Poland, Polish authorities also seized 300 seahorse tablets.

    This Mariposa butterfly found in Peru was one of 5,991 pieces and 233kg of arthropods seized globally.

    This wood in Brazil was among 49,572 pieces, 214.9 tonnes and 1340 m3 of timber seized worldwide.

    These sea cucumbers and shark fins were seized in Mozambique.

    Nearly 4.5 tonnes of pangolin scales were seized in Nigeria.

    Mongolia reported the seizure of 40 m3 of timber.

    This skull, discovered by Mexican authorities, was among 53 pieces of big cats seized around the world, including claws, furs, and skulls.

    Python skin products, like this one seized in Italy, are perceived as high-end or luxurious items.

    This coral, found in Italy, was one of 493 pieces and 21.41kg of coral seized globally.

    Indonesia reported two instances of trafficking of African ivory.

    Significant seizures include:

    • Indonesia: 134 tonnes of timber headed to Asia via ocean freight.
    • Kenya: 41 tonnes of exotic timber headed to Asia via ocean freight.
    • Nigeria: 4,472 kg of pangolins scales
    • Türkiye: 6,500 live songbirds discovered during a vehicle inspection at the Syrian border.
    • India: 5,193 live red-eared ornamental slider turtles concealed in passenger suitcases arriving from Malaysia at Chennai Airport.
    • Peru: 3,700 protected plants intercepted en route from Ecuador.
    • Qatar: Eight rhino horns found in a suspect’s luggage while transiting from Mozambique to Thailand.
    • United States: One tonne of sea cucumbers, considered a seafood delicacy, smuggled from Nicaragua.
    • Hong Kong, China: 973 kg of dried shark fins originating from Morocco seized at the airport.
    • Czech Republic: Eight tigers, aged between two months and two years, discovered in a suspected illegal breeding facility.
    • Indonesia: 846 pieces of reticulated python skin, from the world’s longest snake species, concealed on board a ship.
    • More than 300 firearms, vehicles and poaching equipment.

    Building a global intelligence picture of wildlife and timber trafficking

    Regular operations such as Thunder enable investigators to build a comprehensive global intelligence picture and detailed offender profiles, significantly enhancing the effectiveness of enforcement efforts and resolution of cross-border cases.

    Cooperation between various stakeholders is essential for effectively combating transnational criminal networks, from seizure to arrest and prosecution, as the data collected enable customs administrations to refine their risk management and compliance strategies, and stay one step ahead of criminals, ensuring that their contribution to the fight against wildlife crime is dynamic and responsive.

    Ahead of the operation, countries exchanged actionable intelligence on ongoing cases and high-value targets, updating critical information on 21 INTERPOL Red Notices for suspected traffickers wanted internationally. This exchange continued throughout the operation, with officers using the secure channels provided by both INTERPOL and the WCO to communicate in real time.

    The Operation Thunder series is backed by the CITES Secretariat and carried out under the partnership framework of the International Consortium on Combating Wildlife Crime (ICCWC). The 2024 edition was co-funded by the European Union, the UK Department for Environment, Food and Rural Affairs (DEFRA), and the United States Agency for International Development (USAID).

     

    MIL Security OSI –

  • MIL-OSI: Unlock Your Trading Edge with Axi at the 2025 Money Expo Mexico

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, Feb. 04, 2025 (GLOBE NEWSWIRE) — Leading online FX and CFD broker Axi announced that it is attending this year’s Money Expo Mexico, taking place on February 26-27, 2025, at Centro Citibanamex.

    Event attendees will have the opportunity to learn about Axi Select, Axi’s innovative capital allocation program designed to empower ambitious traders on their trading journey, as well as meet Axi Select traders who are well on their way to reaching the $1million milestone. “We invite all traders to visit our team at Booth 14 and uncover the future of trading with Axi,” says Greg Rubin, Head of Axi Select at Axi, before adding “We look forward to networking with fellow traders and showcasing the exceptional benefits of Axi Select. Our program features zero registration fees, capital funding of up to $1,000,000 USD, the opportunity to earn up to 90% of the profits, and advanced tools to accelerate traders’ trading potential.”

    Additionally, visitors can explore their Introducing Broker (IB) and Affiliate programs or learn more about Axi’s longstanding partnership with Manchester City, Premier League Champions. Man City memorabilia and the club’s mascots will be on-site for photos and attendees stand the chance to win exciting prizes from the broker, including signed player shirts and other merchandise.

    The broker has a longstanding partnership with Premier League club, Manchester City FC, as well as LaLiga club, Girona FC, and Brazilian club, Esporte Clube Bahia. In 2023, they also announced England international John Stones as their Brand Ambassador. More recently, the broker was recognised with the ‘Innovator of the Year’ award at the 2024 Dubai Forex Expo, as well as being named ‘Most Innovative Proprietary Trading Firm’ by Finance Feeds.

    The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available to AU, NZ, EU and UK residents. For more information, refer to our Terms of Service.

    About Axi

    Axi is a global online FX and CFD trading company, with thousands of customers in 100+ countries worldwide. Axi offers CFDs for several asset classes including Forex, Gold, Oil, and more.

    For more information or additional comments from Axi, please contact: mediaenquiries@axi.com

    The MIL Network –

  • MIL-OSI Asia-Pac: Fish Production

    Source: Government of India (2)

    Posted On: 04 FEB 2025 4:07PM by PIB Delhi

    Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying is implementing flagship scheme namely “Pradhan Mantri Matsya Sampada Yojana (PMMSY)” with investment of ₹20,050 crore in fisheries sector for a period of 5 years with effect from the FY 2020-21 to FY 2024-25 in all the States/UTs. PMMSY  inter-alia, envisages to  address critical gaps in fish production, productivity, quality, technology, post-harvest infrastructure and management, modernization and strengthening of value chain, reduction of post-harvest losses, traceability etc including marketing infrastructure.  For creation and strengthening of marketing infrastructure, PMMSY has supported  27189 units of fish transportation facilities (refrigerated vehicles, insulated vehicles, two wheelers/ three wheelers), 21 state of the art wholesale fish markets, 202 fish retail markets, 6694 fish kiosks and 5 E-platform for e-trading and e-marketing of fish and fisheries products with total outlay of Rs. 1654.51 crore in all the States/UTs across the country. To provide real-time and accurate price information to fishers and fish farmers and to help them for negotiating better price and profitability, the Department through National Fisheries Development Board (NFDB) has launched the ‘Fish Market Price Information System’ (FMPIS) during 2018-19 to capture and disseminate fish market prices of commercially important marine and inland fishes from 111 wholesale and retail fish markets in 29 States/UTs.

    Further, the Department of Fisheries signed a Memorandum of Understanding (MoU) with Open Network for Digital Commerce (ONDC) with an objective to provide a digital platform and empower all stakeholders including traditional fishermen, fish farmers producer organization, entrepreneurs from fisheries sector to buy and sell their products through e-market place. Further, PMMSY has supported 2195 fisheries cooperatives as Fish Farmers Producer Organizations (FFPOs) with project outlay of Rs. 544.85 crore through National Cooperative Development Corporation (NCDC), Small Farmers’ Agribusiness Consortium (SFAC) and National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED) as implementing agencies.

    The Pradhan Mantri Matsya Sampada Yojana (PMMSY), a flagship scheme implemented for overall development of fisheries and aquaculture sector in the country, inter-alia envisages to enhance fisheries exports to Rs 1.0 lakh crores by 2024-25. In order to enhance India’s export competitiveness and higher price realization, the PMMSY supports a basket of interventions/activities along the fisheries value chain including quality fish production, expansion, diversification and intensification of brackish water aquaculture, promotion of export-oriented species, infusion of technology, robust disease management and traceability, training and capacity building, creation of modern post-harvest infrastructure with seamless cold chain, development of modern fishing harbours and fish landing centres, etc. The seafood exports of India have more than doubled since FY 2013-14. While the seafood exports stood at Rs 30,213 crore in 2013-14, the same has increased to Rs. 60,523.89 crore during FY 2023-24. Further, the MPEDA has informed that they have prepared a Vision Document -2030 for the India’s marine products export sector with recommendation to achieve an export turnover of USS$ 18.00 billion by 2030. The details of fish products in the country, State and year-wise during the last five years (2019-20 to 2023-24) is annexed.

     

    Annexure

     

    Information regarding Fish Production:

                 

    Item-Wise Export Of Marine Products From India

    Q: Quantity in M T, V: Value in Rs. Crore

    Item

     

    2019-20

    2020-21

    2021-22

    2022-23

    2023-24

    Frozen Shrimp

    Q:

    652253

    590275

    728123

    711099

    716004

    V:

    34152.03

    32520.29

    42706.04

    43135.58

    40013.54

     

     

     

     

     

    Frozen Fish

    Q:

    223318

    188130

    226586

    368549

    381588

    V:

    3610.01

    2941.65

    3471.91

    5503.18

    5509.69

     

     

     

     

     

     

    Fr Cuttle Fish

    Q:

    70906

    59292

    58992

    54919

    54316

    V:

    2009.79

    1626.34

    2062.63

    2353.34

    2252.63

     

     

     

     

     

     

    Fr Squid

    Q:

    87631

    61176

    75750

    83846

    93509

    V:

    2196.59

    1998.90

    2806.09

    3593.75

    3061.46

     

     

     

     

     

    Dried Item

    Q:

    84417

    85661

    73679

    252918

    300966

    V:

    981.50

    1148.38

    1472.98

    3080.92

    4070.60

     

     

     

     

     

     

    Live Items

    Q:

    7287

    4379

    7032

    7824

    7585

    V:

    324.26

    239.69

    353.36

    440.06

    397.84

     

     

     

     

     

     

    Chilled Items

    Q:

    21202

    17622

    21689

    24428

    35925

    V:

    631.84

    477.99

    733.47

    616.29

    687.19

     

     

     

     

     

     

    Others

    Q:

    142638

    142975

    177414

    231703

    191709

    V:

    2756.84

    2767.74

    3979.99

    5246.03

    4530.92

     

     

     

     

     

     

    Total

    Q:

    12,89,651

    11,49,510

    13,69,264

    17,35,286

    17,81,602

     

    V:

    46,662.85

    43,720.98

    57,586.48

    63,969.14

    60,523.89

     

     

     

     

     

     

     

     

    State-Wise Export of Marine Products From India

    Q: Quantity in Tons, V: Value in Rs. Crore

     

     

    2019-20

    2020-21

    2021-22

    2022-23

    2023-24

    Gujarat

    Q

    252712

    203917

    200099

    248863

    284088

     

    V

    5001.43

    4188.52

    4421.10

    5466.94

    5511.36

     

     

     

     

     

     

     

    Maharashtra

    Q

    151425

    110822

    193999

    214167

    222453

     

    V

    4829.17

    3684.94

    7303.92

    7466.47

    6923.34

     

     

     

     

     

     

     

    Goa

    Q

    21498

    16549

    36057

    63333

    55167

     

    V

    520.65

    435.25

    730.64

    1007.60

    934.20

     

     

     

     

     

     

     

    Karnataka

    Q

    111465

    121348

    120427

    312347

    301183

     

    V

    1520.10

    1689.14

    1962.19

    4737.23

    4785.05

     

     

     

     

     

     

     

    Kerala

    Q

    163563

    157698

    182430

    218629

    196807

     

    V

    5672.27

    5623.12

    6971.56

    8285.03

    7231.84

     

     

     

     

     

     

     

    Tamil Nadu

    Q

    130377

    110023

    114810

    123157

    134317

     

    V

    6465.71

    5565.48

    6559.64

    6957.67

    6854.22

     

     

     

     

     

     

     

    Andhra Predesh

    Q

    293314

    279992

    324904

    328160

    347927

     

    V

    15498.64

    15831.74

    20035.49

    19846.95

    19420.38

     

     

     

     

     

     

     

    Telangana

    Q

    0

    0

    3102

    6676

    11758

     

    V

    0.00

    0.00

    156.91

    358.39

    565.10

     

     

     

     

     

     

     

    Odisha

    Q

    66671

    60718

    86765

    85308

    84231

     

    V

    3243.93

    3107.68

    4627.91

    4546.47

    3954.60

     

     

     

     

     

     

     

    West Bengal

    Q

    98626

    88443

    103398

    125025

    132318

     

    V

    3910.95

    3595.12

    4742.47

    5121.33

    4145.51

     

     

     

     

     

     

     

    Delhi

    Q

    0

    0

    766

    1083

    1294

     

    V

    0.00

    0.00

    39.00

    63.61

    79.84

     

     

     

     

     

     

     

    Others

    Q

    0

    0

    2507

    8536

    10058

     

    V

    0.00

    0.00

    35.64

    111.47

    118.46

     

     

     

     

     

     

     

    Total

    Q

    12,89,651

    11,49,510

    13,69,264

    17,35,286

    17,81,602

     

    V

    46,662.85

    43,720.98

    57,586.48

    63,969.14

    60,523.89

     

     

     

     

     

     

     

    This information was given by the Minister of Fisheries, Animal Husbandry and Dairying Shri Rajiv Ranjan Singh alias Lalan Singh, in a written reply in Lok Sabha today.

    ******

    AA

    (Release ID: 2099604) Visitor Counter : 49

    Read this release in: Hindi

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Pre-event Press release for Chennai Roadshow

    Source: Government of India

    Posted On: 04 FEB 2025 11:35AM by PIB Delhi

    The Ministry of Development of North Eastern Region (MDoNER) will host the North East Trade and Investment Roadshow in Chennai on February 5, 2025, starting at 3:30 PM at Hotel Hilton, Guindy, Chennai. The event will be inaugurated by Shri Jyotiraditya M. Scindia, Union Minister for MDoNER.

    Key officials, including Shri Chanchal Kumar, Secretary, MDoNER, and Shri Shantanu, Joint Secretary, MDoNER, along with senior representatives from various North Eastern States, will also be in attendance.

    The roadshow will feature B2G meetings, providing a unique opportunity for potential investors to engage directly with state representatives and explore investment opportunities across multiple sectors. This event is organized in collaboration with the State Governments of the North Eastern States, FICCI (Industry Partner), and Invest India (Investment Facilitation Partner).

    This Chennai Roadshow is the eighth event in the ongoing series, showcasing presentations from the eight North Eastern States—Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, and Tripura. These states will highlight a diverse range of investment opportunities in key sectors, including agri-food processing, IT & ITES, entertainment & sports, energy, infrastructure & logistics, tourism & hospitality, education & skill development, healthcare, textiles, handloom & handicrafts, all crucial for driving economic growth in the region.

    The Hon’ble Prime Minister’s vision of ‘Viksit Bharat and Viksit North East’ has driven significant infrastructure development in the region over the past decade, including roadways, airways, railways, and waterways. These efforts have greatly improved the lives of the local population, boosting tourism and economic activities.

    The North East Investor Summit supports this vision by attracting investments and unlocking the region’s untapped potential, further advancing its journey toward prosperity and development.

    Previous roadshows in Mumbai, Hyderabad, Kolkata, Bengaluru, and Ahmedabad, along with the state seminar at Vibrant Gujarat, have garnered substantial interest from potential investors. Building on these successes, MDoNER organized a signing and exchange of MoUs event for the North East Investors Summit on March 6, 2024, at Vigyan Bhawan, New Delhi, facilitating discussions between senior officials and investors.

    The recent Ahmedabad roadshow, attended by  MoS for MDoNER, Dr. Sukanta Majumdar, facilitated numerous B2G meetings that encouraged potential investments.

    The upcoming Chennai Roadshow aims to build on this momentum, providing investors with the opportunity to engage directly with state officials. Given the success of previous editions, this event is anticipated to attract even greater attention and participation, solidifying Chennai’s role as a financial hub for the economic growth of the North East.

    The session will include valuable insights from the  Minister of MDoNER and presentations from various states, highlighting investment opportunities and empowering investors to become part of the dynamic investment landscape of North East India.

    *****

    Samrat/Dheeraj@: donerpib[at]gmail[dot]com

    (Release ID: 2099415) Visitor Counter : 89

    MIL OSI Asia Pacific News –

  • MIL-OSI Africa: Civil Society Organizations Brief the Committee on the Elimination of Discrimination against Women on the Situation of Women in the Democratic Republic of the Congo, Nepal, Belarus and Luxembourg

    Source: Africa Press Organisation – English (2) – Report:

    GENEVA, Switzerland, February 4, 2025/APO Group/ —

    The Committee on the Elimination of Discrimination against Women was this afternoon briefed by representatives of civil society organizations on the situation of women’s rights in the Democratic Republic of the Congo, Nepal, Belarus and Luxembourg, the reports of which the Committee will review this week.

    In relation to the Democratic Republic of the Congo, speakers raised concerns regarding gender-based violence and abuse of internally displaced women and girls in the context of the escalating conflict, and the impact of the withdrawal of the United Nations Organization Stabilization Mission in the Democratic Republic of the Congo.

    On Nepal, speakers addressed discrimination against vulnerable women, including indigenous women and girls, lesbian, bisexual, transgender and intersex women, and women sex workers; anti-discrimination legislation; and the participation of women in political processes.

    Non-governmental organizations speaking on Belarus raised topics including the dissolution of civil society organizations, imprisonment of women human rights defenders, and barriers to access to justice for women.

    Regarding Luxembourg, a speaker raised issues related to a lack of gender sensitive policies and measures to address intersecting forms of discrimination, and the subordination of women through the social system.

    The National Human Rights Commissioner of the Democratic Republic of the Congo spoke on the country, as did the following non-governmental organizations: Centre for Migration, Gender, and Justice; Groupe d’Action pour les Droits de la Femme; and SAVIE ASBL LGBT.

    Regarding Nepal, the following non-governmental organizations spoke: Forum for Women, Law and Development; Feminist Dalit Organization; Nepal Indigenous Women Federation; Sex Workers and Allies South Asia and Team; Campaign for Change, Mitini Nepal, and Intersex Asia; and Visible Impact.

    The following non-governmental organizations spoke on Belarus: Belarusian Helsinki Committee; Human Constanta; Belarusian Congress of Democratic Trade Unions; Coalition against gender-based and domestic violence; and Our House.

    A representative of the Consultative Commission of the Grand-Duchy of Luxembourg on Human Rights spoke on Luxembourg.

    The Committee also held an informal meeting with the Working Group on Business and Human Rights and representatives from civil society and the business sector on “increasing the bottom line through smart, gender-inclusive, rights-focused approaches in digitisation.”

    Opening the meeting, Nahla Haidar, the newly elected Committee Chairperson, said artificial intelligence and digital technologies had revolutionised everyday life and business practices across sectors in ways that were never envisioned in the past. She called for action to prevent bias and discrimination against women through cyber-enabled modalities; expand women’s economic opportunities in the new digital era; and equip women and girls with necessary skills, capacities and tools to contribute to providing digital solutions.

    In the meeting, speakers discussed topics such as measures to prevent discrimination of women in the private sector, and particularly in the field of technology; measures to promote access to science, technology, engineering and maths education for women; measures to address the impacts of artificial intelligence on women; and measures to protect women’s rights in the energy transition era.

    Committee Experts and members of the Working Group spoke in the meeting, as did representatives of the United Nations Office of the High Commissioner for Human Rights, the World Trade Organization, and various private sector and civil society organizations.

    The Committee on the Elimination of Discrimination against Women’s ninetieth session is being held from 3 to 21 February. All documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage. Meeting summary releases can be found here. The webcast of the Committee’s public meetings can be accessed via the UN Web TV webpage.

    The Committee will next meet in public at 10 a.m. on Tuesday, 4 February to consider the report of the Democratic Republic of the Congo submitted under the exceptional reporting procedure (CEDAW/C/COD/EP/1).

    Opening Remarks by the Committee Chair

    NAHLA HAIDAR, Committee Chairperson, said that during each session, the Committee invited national and international non-governmental organizations to informal public meetings to provide specific information on the States parties that were scheduled for consideration by the Committee. She welcomed the representatives of non-governmental organizations and national human rights institutions that had come to provide information on the States parties whose reports were being considered this week: Democratic Republic of the Congo, Nepal, Belarus and Luxembourg.

    Statements by Non-Governmental Organizations from the Democratic Republic of the Congo, Nepal and Belarus

    Democratic Republic of the Congo

    On the Democratic Republic of the Congo, speakers, among other things, said violence against displaced persons was on the rise in the State. Gender-based violence, specifically, was rampant, leaving survivors with limited access to justice. Displaced women had a lack of access to reproductive health care and were giving birth in unsafe conditions. The economic struggles that displaced women and girls faced were equally alarming. With scarce income opportunities, many were driven to survival sex, which exposed them to sexual exploitation and abuse.

    The withdrawal of the United Nations Organization Stabilisation Mission in the Democratic Republic of the Congo raised real concerns. Plans from national authorities to take on the responsibilities of the Mission remained lacking. Armed militias and members of the security forces continued to abuse women with impunity. There were also “tolerance houses” where internally displaced women and girls were sexually abused. Justice remained inaccessible for most survivors.

    Speakers called on the Government to bolster administrative capacities; ensure the transfer of United Nations facilities to the armed forces; investigate “tolerance houses” and hold perpetrators of gender-based violence criminally liable; control the spread of weapons; and ensure justice and dignity for all women in the State. Speakers also called for a national migration strategy that was gender-responsive; mechanisms for gender-based violence prevention, mitigation, and response; provision of health services and resources, especially with regards to maternity health, that connected to related concerns such as food insecurity and nutrition; and programmes to expand livelihood provisions that supported displaced women and girls.

    Nepal

    Speakers said Nepal had yet to enact a robust anti-discrimination law, making women more vulnerable to abuse. There was a need to criminalise discrimination against women and eliminate all discriminatory legal provisions against them. The State party also needed to allocate sufficient human and financial resources to public bodies working on women’s rights. Appropriate support needed to be provided to women victims of violence.

    Fifteen per cent of Nepal’s population of women faced multiple forms of discrimination; many women faced social exclusion and violence. Some girls did not report crimes due to a lack of trust in the justice system.

    Nepal needed to amend the Constitution to address historical discrimination of indigenous women and to recognise the customary laws of indigenous people. The Government needed to amend the act on the rights of persons with disabilities to address the rights of indigenous women with disabilities. Access to justice needed to be promoted for indigenous women and women with disabilities.

    Nepal had failed to ratify the Palermo Protocol, and human trafficking and sex work were treated as the same in the country. Sex workers faced various forms of discrimination and violence. Nepal’s legislation had a direct impact on sex workers’ access to citizenship. Legislation on trafficking in persons needed to be amended to differentiate between trafficking and sex work. The Government also needed to facilitate sex workers’ access to citizenship and promote awareness raising campaigns on the rights of sex workers.

    Lesbian, bisexual, transgender and intersex girls faced harmful treatment and violence, and systematic discrimination in education and healthcare in Nepal, and the Government had failed to act in response. The Government needed to ensure such women could access single women’s allowances, redefine marriage to include gender-free terminology, and support this group’s access to rights.

    Education on sexual and reproductive health remained optional and inadequate in Nepal. It needed to be made compulsory. Legislation needed to be amended to fully decriminalise abortion, particularly abortions in cases of rape. The State also needed to amend legislation to include sexual and reproductive health and rights and sensitise health care providers and community members on safe births. It further needed to decriminalise sexual relations between consenting adolescents under the age of 18.

    The meaningful participation of women in political processes was lacking; many women politicians faced violence. Nepal needed to investigate historic violence against marginalised women, collect disaggregated data on women, enhance women’s leadership capacities, take measures to eliminate discrimination against marginalised women and girls, and provide quality health services to all women and girls, particularly indigenous women, at a minimal cost.

    Belarus

    Speakers on Belarus said the Constitution did not provide effective protection against discrimination. Women’s rights to education and health care were limited. Belarus had institutionalised discriminatory food provisions; women and girls were not able to access fruit and nuts, leading to long-term health risks.

    Access to justice for women was undermined by the persistent persecution of women human rights defenders. Women activists had been falsely labelled as terrorists despite their peaceful actions. The State had systematically dissolved various civil society organizations, including many that supported women. Almost 2,000 non-governmental organizations had been forced to liquidate. All women’s organizations that had prepared shadow reports to the Committee for the last review had been liquidated. It was immensely difficult to find legal assistance due to the political suppression of lawyers. In 2022, the Government had forcibly liquidated all trade unions. Six women trade union activists remained in prisons.

    At least 139 women were political prisoners in Belarus. They lacked access to healthcare and were persistently ill-treated. Imprisoned women faced forced labour and modern forms of slavery. If women refused to work, they were put in “cages of shame” and forced to stand outside for several hours. Women prisoners earned between five and 10 euros per month and faced harsh penalties for not meeting quotas.

    When domestic violence cases were reported to police, police screened the political activities of the victim rather than provide support. Victims and aggressors were invited together to meetings with authorities, promoting impunity.

    Women migrants were vulnerable to trafficking and violence. Domestic violence was not a ground for asylum in Belarus.

    Luxembourg

    No non-governmental organizations spoke on the situation of women in Luxembourg.

    Questions by Committee Experts

    A Committee Expert said that there were many laws and policies for women in the Democratic Republic of the Congo, but there was weak implementation. How was the transitional justice policy being implemented for women? Was there a plan to promote the security of women and girls in the Democratic Republic of the Congo?

    The Expert shared the non-governmental organizations’ concern regarding the suppression of civil society in Belarus. Were there plans to update the national action plan on human rights in Belarus, and were there plans to establish a national human rights institution?

    Another Expert asked about anti-trafficking activities being carried out in the Democratic Republic of the Congo. To what extent were women represented in local governments and decision-making bodies in Nepal?

    One Committee Expert asked about financial resources devoted to implementing the national gender equality plan in Nepal. What were areas of concern related to sexual and reproductive health services in Belarus?

    A Committee Expert asked about problems regarding access to justice for Dalit women in Nepal. How common was the dowry custom in Nepal? Why was the dowry for younger women and girls lower?

    Another Committee Expert asked if the Democratic Republic of the Congo had laws on the accountability of military personnel and contractors involved in violence against women. What social protection system and benefits did Belarus have for women and girls?

    One Committee Expert asked about legal provisions that needed to be challenged. What needed to be done to educate girls and society about the harms of the kumari practice in Nepal, which isolated girls from their community?

    A Committee Expert called for information on the Democratic Republic of the Congo’s national action plan on the development of the security forces. What action had been taken to dismantle non-governmental armed groups in the east? Was it still possible for non-governmental organizations in Belarus to protect women and interact with the Government?

    Responses by Non-Governmental Organizations

    Nepal

    Responding to questions on Nepal, speakers said there was a very low percentage of women in federal and provincial decision-making bodies in Nepal, and an even lower percentage of Dalit women. There needed to be increased representation of women in these bodies. There were several laws that directly discriminated against women, including laws on legal residences, which considered women and girls’ residences as those of their husbands and fathers. Divorced women lost their property rights. It was prohibited to oppose gender biases in cultural and social practices. Nepal’s laws did not recognise lesbian, bisexual, transgender and intersex women as minorities; this needed to be done.

    In Nepal, the parents of women paid dowries, and less dowry was paid for younger women. Dowry payments were most prevalent in the south of the country. The Criminal Code criminalised this practice, but it still existed.

    Sexual and reproductive health education was part of the school curriculum but was no longer a compulsory subject. There were also gaps in sexual and reproductive health legislation, with many marginalised women not able to access sexual and reproductive health services.

    Dalit women and other marginalised women could not easily access the justice system. They were not made aware of where and how to access justice and faced violence and discrimination from the police because of their identity.

    Belarus

    Responding to questions on Belarus, speakers said Belarus’ Gender Equality Council did not include non-governmental organizations working on human rights and gender equality. Belarus’ legislation on incitement to hatred was used to oppress women human rights defenders. One such woman had been imprisoned for seven years under this legislation. Raids, inspections and blocking of websites were tools used by the Government to restrict the activities of civil society organizations.

    Statements by National Human Rights Institutions

    Democratic Republic of the Congo

    GISÈLE KAPINGA NTUMBA, National Human Rights Commissioner of the Democratic Republic of the Congo, said the Democratic Republic of the Congo was going through one of its darkest times in recent history, marked by the invasion of the M23 rebels in the east of the country, which was facing a protracted, violent crisis. Many women and girls had been displaced and were facing heightened risks of sexual violence and rape. The National Human Rights Commission had conducted investigations into sexual violence linked to conflict, engaging with competent institutions to address this problem and combat impunity.

    The Commission welcomed that the Government had implemented several measures to protect women and girls from sexual and gender-based violence, including a law criminalising such violence and enshrining access to justice for victims. However, there was still a long way to go until these measures could effectively protect civilians from sexual and gender-based violence. The number of internally displaced persons continued to grow, and there had been many cases of rape reported. There needed to be increased funds to limit the circulation of small arms and light weapons, build new camps, and increase humanitarian aid for internally displaced persons. Care for victims of sexual and gender-based violence needed to be given by trained professionals.

    The national fund for compensation for the victims of gender-based violence had helped victims to access care. The Commission also welcomed the organisation of travelling courts to combat impunity. The Government needed to restore peace in the east and take steps to protect civilians from gender-based violence, and provide internally displaced persons with adequate aid. Armed groups needed to respect the rules of international humanitarian law and implement an immediate ceasefire. The international community needed to promote peace by adopting sanctions against M23 and other armed groups.

    Luxembourg

    LAURA CAROCHA, Human and Social Sciences Expert,Commission consultative des Droits de l’Homme du Grand-Duché de Luxembourg [Consultative Commission of the Grand-Duchy of Luxembourg on Human Rights], welcomed the efforts made by Luxembourg to combat discrimination against women since the last report, while noting persistent shortcomings, including a social system that kept women in a subordinate position to men. Luxembourg’s policy favoured a “neutral” approach that was not gender sensitive. Ms. Carocha urged politicians to openly acknowledge this systemic patriarchal domination and to make the deconstruction of this mechanism a priority. To this end, it was imperative that the Government finally implemented the principle of gender mainstreaming in a cross-cutting manner in all its policies.

    Luxembourg’s equality efforts lacked an intersectional approach and the Government rarely addressed multiple and intersecting forms of discrimination. Disability was conspicuously absent from the National Action Plan for Equality between Women and Men, while the gender dimension was neglected in the National Action Plan on Disability. It was essential to have detailed data, disaggregated by gender, age, ethnicity, disability and education level, to better understand and address the different forms of discrimination that women faced. The Government also needed to impose concrete actions on companies, municipalities and administrations in terms of gender equality and the fight against discrimination against women.

    All actions taken in the fight against discrimination against women needed to be carried out in close collaboration with civil society. This cooperation needed to be translated into lasting partnerships and political will to ensure that the contributions of civil society were seriously considered in the decision-making process.

    Ms. Carocha concluded by calling for the recognition of multiple forms of discrimination, and a proactive and participatory response from the Government to gender inequalities rooted in societal dynamics. This meant adopting structural solutions that addressed the root causes of discrimination.

    Questions by Committee Experts

    A Committee Expert offered condolences to the people of the Democratic Republic of the Congo, including families of civilians who had lost their lives. What did the National Human Rights Commission wish the Committee to highlight in the dialogue with the State party?

    Another Committee Expert asked about measures to prevent conflict-related gender-based violence in the Democratic Republic of the Congo.

    One Committee Expert asked if humanitarian aid groups were able to access Goma and deliver food, health and menstrual products?

    A Committee Expert expressed concern regarding the lack of participation from women’s organizations from Luxembourg in the dialogue. What progress had been made in reforming the Constitution? Was there an initiative to amend the timeframe for authorising abortions in the State? The State party did not publish data broken down by origin. Could data be provided on migrant workers in Luxembourg?

    Another Committee Expert asked about Luxembourg’s process for identifying stateless persons.

    Responses by National Human Rights Institutions

    GISÈLE KAPINGA NTUMBA, National Human Rights Commissioner of the Democratic Republic of the Congo, said that in Goma, people in displacement camps had been bombarded. They had no power and no water, and the Rwandese army was on its way in. The international community needed to assist the Democratic Republic of the Congo in creating humanitarian corridors to assist internally displaced persons fleeing the region. The State had approved laws and measures on preventing sexual violence, but implementing these was a challenge, particularly in regions where the Government did not have control. In the dialogue, the Committee needed to ask the Government to choose diplomacy over other means, as the population was dying for nothing. Those involved in the conflict needed to be prosecuted. The international community needed to condemn the situation in the east and promote diplomacy.

    Meeting with the Working Group on Business and Human Rights

    Statements

    ANDREA ORI, Director, Groups in Focus Section, Human Rights Treaties Branch, United Nations Office of the High Commissioner for Human Rights, said that the meeting would address the nexus between business and human rights, and gender and digital technologies. Cooperation and practices in digital fields needed to not perpetrate discrimination against women. There was room for improvement on measures addressing gender discrimination in the workplace, representation of women in leadership positions, workplace harassment, and labour rights for women. Women were over-represented in low-paying jobs. Stereotypes hindered women’s access to finance and investments, and women had less access to technology and digital services. Today’s discussion would focus on enhancing the promotion and protection of women.

    NAHLA HAIDAR, Committee Chairperson, said artificial intelligence and digital technologies had revolutionised everyday life and business practices across sectors in ways that were never envisioned in the past. Strategic, innovative modalities to better safeguard the rights of women and girls called for partnerships, joint approaches and harmonised frameworks. Women needed to be engaged in digital developments from the beginning. States needed to avoid the re-inventing of stereotypes, bias and discrimination and the perpetuation of violence against women through cyber-enabled modalities; safeguard women’s livelihoods and expand economic opportunities in the new digital era for them; and equip women and girls with necessary skills, capacities and tools to contribute to providing digital solutions.

    This briefing was anticipated to be the first in a series of collaborative efforts to address substantive issues on women’s economic rights in a digital world based on the provisions of the Convention. Business and human rights principles and the jurisprudence of the Committee and standards could be systematically deployed to uphold and respond to women’s rights protection and economic empowerment, particularly through inclusive digital technologies.

    Sadly, gender equality had often been constrained by interpretations outside the text of the Convention, resulting in persistent gender gaps and disparities. Critical partnerships would enable the Committee to explore a collaborative and coordinated approach for bridging digital gender inequalities to create a more inclusive and equitable digital future for women and girls, one that was not only free of all forms of violence but also offered them equal opportunities to access and utilise digital technologies to boost their livelihoods and human capital assets.

    LYRA JAKULEVIČIENĖ, Chairperson of the Working Group on Business and Human Rights, said that this year, the Working Group was preparing a report on the use of artificial intelligence in businesses and its human rights impacts. It focused on the deployment of artificial intelligence technologies and procurement by States and businesses, looking at biases and other issues. The use of artificial intelligence and other technologies had many benefits and but also created concerns, including related to gender, and these would be captured in the report. Synergy with the Committee would help both bodies to advance their agendas and strengthen the global protection of human rights, particularly for vulnerable women and girls.

    ESTHER EGHOBAMIEN-MSHELIA, Committee Expert, said 300 million fewer women than men had access to mobile internet globally. Although about a third of small and medium enterprises were owned by women, women were under-represented in discussions on the global value chain. States needed to focus on the energy transition and artificial intelligence technologies, as if they did not address issues in these fields, the gender gaps would widen.

    FERNANDA HOPENHAYM, Gender Focal Point of the Working Group on Business and Human Rights, said the United Nations Guiding Principles on Business and Human Rights had a cross-cutting gender perspective, and this needed to be addressed by States and businesses. The Guiding Principles said that States needed to include a gender perspective in all policies on business and human rights. It also called on businesses to respect human rights and to implement measures promoting diversity and inclusion. Women needed to be able to access remedies in cases in which their rights were violated. Technologies needed to be gender sensitive, responsive and transformative.

    Panel Discussion

    In the ensuing discussion, speakers, among other things, said women faced many barriers to accessing the labour market; these needed to be addressed. Countries needed to change company cultures to address discrimination against women employees, and promote diversity and family-friendly policies. Businesses needed to consider documents outlining the rights of women and girls, such as the Convention, and use tools to assess the effectiveness of gender equality measures. They also needed to create an enabling environment for women. Another key requirement was to conduct human rights due diligence with a gender lens.

    Some speakers expressed concerns related to discrimination against women in the technology sector. Many companies lacked a gender lens when assessing their value chains and were not carrying out gender-related due diligence. There was evidence of disproportionate harm to non-binary women and the targeting of women human rights defenders online. Companies were actively amplifying gender biases. The Committee and the Working Group needed to work with civil society and to call out companies by name when they violated human rights. They also needed to promote corporate accountability and prevent regression.

    Speakers presented measures to change cultural mindsets to support women to succeed professionally; to promote a healthy work-life balance for women; to raise awareness of women’s rights among businesses; and to develop rules and tools to protect women and girls on social media platforms.

    Some speakers said technology could allow for greater access to education for women and girls, so women needed increased access to it. One speaker said girls had less opportunities to study in fields such as programming and robotics. With simple reforms and measures encouraging participation, more and more women and girls would choose information technology as a profession, they said.

    Some speakers expressed concerns that artificial intelligence technology was not sufficiently regulated. It was possible for artificial intelligence systems to learn and reproduce societal biases and there were also privacy concerns regarding the data that these systems used. One speaker presented efforts to eliminate biases in artificial intelligence systems and to develop tools to ensure that such systems respected human rights.

    One speaker called for respect for women’s rights in the energy transition. Women had strong roles to play in preventing child labour in the energy sector and supporting children’s access to education. Businesses needed to ensure women’s experiences were incorporated in energy transition programmes, and to finance science, technology, engineering and maths education programmes for women, speakers said.

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Northern Ireland firm expands into new markets after new partnership between UKEF and Ulster Bank

    Source: United Kingdom – Government Statements

    UKEF’s support helping Maxflow gain access to capital through its General Export Facility (GEF) will see the business expand into new export markets.

    Ryan Wylie, Managing Director of Maxflow, and Leona McNicholl, Senior Relationship Manager at Ulster Bank

    • Maxflow supplies Northern Ireland-made industrial pressure washers, generators, parts and pressure-washing accessories, and is aiming to reach new export markets.

    • Maxflow Power Products Limited is the first company in Northern Ireland that has been awarded UKEF-backed facility from Ulster Bank.

    Maxflow, a Northern Ireland-based manufacturer of industrial pressure washers and power products, is accelerating its growth with a finance package issued by Ulster Bank and guaranteed by UK Export Finance (UKEF), the government’s export credit agency. This partnership supports Maxflow to expand its operations, enter new export markets, and grow its customer base.

    With over 25 years of industry experience, Maxflow’s ability to grow as a business has been furthered by UKEF and Ulster Bank’s financial support which also recently included a multi-million pound support package for a Management Buy Out (MBO). 

    This has enabled better management of cash flow-related challenges, often associated with scaling operations and meeting customer demand. With this support, Maxflow can maintain high stock levels, ensuring consistent availability for its customers and reinforcing its reputation as a reliable supplier in a competitive market.

    With significant revenue coming from exports, entering new export markets presents exciting new opportunities for growth.

    This is the first time that Ulster Bank and UKEF have worked in partnership to issue a trade loan facility for a Northern Ireland business. The loan facility was guaranteed through UKEF’s General Export Facility (GEF), a product which helps SME exporters to access more working capital and scale up their operations. Through the GEF scheme, SMEs accessed over £576 million in working capital loans in the last financial year.

    Liz McCrory MBE, UKEF Export Finance Manager for Northern Ireland, added:

    We are proud to support Maxflow as they build on their success. UKEF’s collaboration with Ulster Bank in this working capital finance deal is a prime example of how our General Export Facility can boost the confidence of SMEs in Northern Ireland to achieve their growth ambitions and venture into new export markets.

    Ryan Wylie, Managing Director of Maxflow, commented:

    We couldn’t be more excited about Maxflow’s growth. Our commitment to exceptional customer service is at the heart of everything we do. We pride ourselves on being a reliable, go-to partner, ensuring our customers can always count on us to deliver exactly what they need, when they need it.

    Expanding into new geographical markets is a transformative step for Maxflow, and the support from Ulster Bank and UK Export Finance has been crucial in helping us seize this opportunity. The ability to manage cash flow effectively while maintaining high stock levels has allowed us to meet the demands of this new market and position ourselves for sustained growth.

    Maxflow’s expansion also includes significant investment in infrastructure. A new factory is currently under construction, with phase one expected to be completed by 2025. This facility will consolidate operations, streamline logistics, and enhance efficiency, supporting Maxflow’s long-term growth plans.

    Maxflow is creating new job opportunities in Cookstown, Northern Ireland through investing in a new factory. With a team of 25 employees and ongoing expansion, the company remains dedicated to being a market leader in industrial power product solutions.

    Leona McNicholl, Senior Relationship Manager at Ulster Bank, commented:

    We’re proud to support Maxflow as they take this exciting step to expand their operations into new export markets. This milestone highlights the importance of providing businesses with the right financial tools to achieve their growth ambitions. Ulster Bank remains committed to supporting Northern Ireland’s businesses, helping them seize new opportunities and grow and this is very evident in the level of support provided to Maxflow in their growth plans through working capital facilities as well as supporting the recent MBO.

    Maxflow’s story showcases how strategic financial partnerships, infrastructure investments, and a focus on customer-centric operations can drive significant growth. As the company continues to expand, it remains committed to its vision of being a market leader in industrial power product solutions.

    Contact 

    Media enquiries:

    Updates to this page

    Published 4 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI China: China files complaint with WTO against US tariff hikes

    Source: China State Council Information Office

    China has filed a complaint with the World Trade Organization (WTO)’s dispute settlement mechanism against the U.S. decision to impose an additional 10-percent tariff on goods from China, the Ministry of Commerce (MOC) said Tuesday.

    The move is to safeguard China’s legitimate rights and interests, an MOC spokesperson said in response to media inquiries.

    The U.S. imposition of additional tariffs on Chinese products has seriously violated the WTO rules, and this egregious act is typical of unilateralism and trade protectionism, said the spokesperson.

    The spokesperson said the U.S. move severely undermines the rules-based multilateral trading system, erodes the foundation of China-U.S. economic and trade cooperation, and disrupts the stability of global industrial and supply chains.

    The United States has repeatedly put unilateralism above multilateralism, incurring strong condemnation from the majority of the WTO members. “China firmly opposes the U.S. actions, and urges the U.S. side to immediately rectify its wrongdoings,” the spokesperson said.

    As a staunch supporter and significant contributor to the multilateral trading system, China stands ready to work with other WTO members to address the challenges posed by unilateralism and trade protectionism to the multilateral trading system, and to safeguard the orderly and stable development of international trade, added the spokesperson.

    MIL OSI China News –

  • MIL-OSI Russia: Registration for the business ideas competition has started at the Polytechnic University

    Translartion. Region: Russians Fedetion –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    The Polytechnic University has opened registration for the fifth youth competition of entrepreneurial and business ideas, The Blue Ocean Open Polytech Entrepreneurship Competition — 2025. The event is aimed at developing strategies for creating markets free from competition.

    Blue Ocean Strategy was developed in the early 2000s by INSEAD business school professors Chan Kim and Renee Mauborgne. Contestants study six basic analytical tools of Blue Ocean Strategy in a special platform, apply them to solve a practical case and develop an entrepreneurial idea.

    Since 2020, the event has been gathering students from different countries who want to understand how to create a product based on the concept of value innovation, when the consumer gets new value and the manufacturer reduces costs.

    During the competition, more than 850 representatives from Russia and foreign countries took part in it. These are teams of 1 to 4 people, consisting of university students and postgraduates, as well as college students and high school students.

    The organizers are the Foundation for the Support and Development of Innovations “Polytech”, the Higher School of Industrial Management of the Institute of Industrial Management, Economics and Trade of SPbPU, the Higher School of Technological Entrepreneurship of the Advanced Engineering School “Digital Engineering” of SPbPU.

    The competition is held remotely and includes the following stages:

    registration — team formation from February 1 to 28; study of the basics of the Blue Ocean strategy — solving a practical case from March 1 to 31, summing up the results is planned from April 1 to 7 with further announcement of the results of the second stage on April 8; development of a Blue Ocean strategy for a startup, entrepreneurial idea or idea generation from scratch by April 20, summing up the results will take place from April 21 to 28, announcement of the competition results is planned for April 29.

    This year, the case for the second stage was proposed by the company “Profilans IT”. Participants need to propose IT projects for the development and training of students. The company is ready to assist the best authors who present real and marketable projects in their implementation. The results of the competition will be shown in the format of a video presentation.

    The award ceremony will take place in May. All teams that pass three stages of the competition will receive certificates of participation. Winners and prize winners will be awarded diplomas and additional points for admission to the Polytechnic University’s master’s program in the IPMEiT areas without exams based on winning the portfolio competition: 60 points will be awarded to winners, 40 points to prize winners.

    The prize fund of the competition is 160,000 rubles. The general partner (Profilans IT) provided 140,000 rubles.

    For first place the team will receive 60,000 rubles, for second place – 40,000 rubles, for third place – 20,000 rubles.

    The prize for the most technologically advanced project is 20,000 rubles.

    A special prize “To the captain of the winning team” (20,000 rubles) was provided by the competition partner, General Director of PSS LLC Pavel Balobanov.

    Registration can be done on the portal Leader Idand in social networks “Vkontakte”.

    Contacts

    The chairman of the jury is associate professor of the Higher School of Industrial Management Anastasiy Klimin, Klimin_ai@spbsta.ru.

    Manager – student of the bachelor’s program “Marketing” of the Higher School of Industrial Management, winner of the competition for the 2021-2022 academic year Kristina Shabalina, Shabalin2.Koy@ed.Sspbstst.ru.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: MOEA Establishes Real-Time Consultation Hotline to Assist Taiwanese Businesses in Responding to U.S. Tariff Measures

    Source: Republic Of China Taiwan 2

    To address the impact of U.S. tariffs on Taiwanese companies operating overseas, the Ministry of Economic Affairs (MOEA) has commissioned the Taiwan External Trade Development Council (TAITRA) and the Industrial Technology Research Institute (ITRI) to implement various support measures, thereby enabling businesses to make adjustments to supply chains and investment strategies. These support measures include:

    1. Establishing a Task Force and Consultation Hotline for Immediate Assistance
    TAITRA has set up task forces in the U.S., Canada, Mexico, Southeast Asia, and South Asia to provide real-time support. A consultation hotline is available at +886-2-27577190.

    2. Providing Customized Services for Businesses to Expand Overseas Deployments
    The MOEA offers market insights for businesses relocating to the U.S. or other regions, which include investment locations, regulations, and partnership opportunities. Companies shifting production to supply local domestic markets receive regulatory guidance and networking support.

    3. Establishing a Service Center for Investment and Trade in the U.S. to Support Supply Chain Relocation
    Under the policy of “Connecting Taiwan to the World”, the MOEA will establish a Taiwan Investment and Trade Center in the U.S. It will help businesses assess investment environments, shift supply chains, and link with local partners.

    4. Strengthening Taiwan-U.S. Industrial Collaboration and Assisting Taiwanese Businesses with Innovation and Upgrading
    ITRI’s North America office will actively promote R&D and manufacturing collaborations, assist businesses in finding local partners, facilitate technological advancement, and boost competitiveness.

    The MOEA will remain committed to monitoring global trade trends and supporting Taiwanese businesses in adapting to market changes.

    MIL OSI Asia Pacific News –

  • MIL-OSI United Kingdom: Empowering women in business: Bangladeshi female entrepreneurs embark on a landmark trade mission to the UK

    Source: United Kingdom – Executive Government & Departments

    Bangladeshi women entrepreneurs representing eight businesses are set to lead a trade mission to the UK.

    A group of diverse and inspirational Bangladeshi women entrepreneurs representing eight businesses are set to lead a trade mission to the United Kingdom in February 2025, with support from the UK Government SheTrades Programme. During the visit, they will be showcasing their businesses, meeting investors and exploring new opportunities.

    Their visit will involve high-level discussions with investors, legislators and corporate executives in the UK and promote cross-border trade between the two countries including under the UK’s Developing Countries Trading Scheme (DCTS). The DCTS is the UK’s generous preferential trading scheme which provides duty-free, quota-free trade to Bangladesh on everything but arms. The DCTS gives Bangladesh the opportunity to potentially save £317m in tariffs annually on the country’s exports to the UK, the highest among all countries eligible for DCTS.

    British High Commissioner to Bangladesh Sarah Cooke hosted a send-off reception at her residence on 3 February to congratulate the entrepreneurs ahead of their departure to the UK.

    The International Trade Centre is implementing this initiative to bring 50 women-led businesses from four Asian countries (Bangladesh, Nepal, Pakistan and Mongolia) and six African countries (Ghana, Nigeria, Rwanda, Kenya, Zimbabwe and Mozambique) to Manchester on 11 February to hold business-to-business (B2B) meetings with UK companies. Women-led companies in the fresh and processed food, textiles and clothing, handicrafts, beauty, information technology and business process outsourcing sectors will have one-on-one meetings with British buyers who want to diversify their supply chains and increase the competitiveness of their products.

    The businesses chosen from Bangladesh are TMSS ICT and Handicrafts, SuperTel, Opus Technology, Tarango Bangladesh, Parijat Bangladesh, TANIS Bangladesh and Leatherina. Five of these companies already possess the certification needed to enter the UK market and the remaining three are currently being supported by the British Standard Institute (BSI) with necessary accreditation.

    This Mission is hosted in partnership with the Greater Manchester Chamber of Commerce and financed by UK International Development as part of the SheTrades Commonwealth+ Programme. The London Chamber of Commerce & Industry, the Greater Birmingham Chambers of Commerce and the West & North Yorkshire Chamber of Commerce are also supporting the event.

    British High Commissioner to Bangladesh Sarah Cooke said:

    The UK government is incredibly proud to support this remarkable group of Bangladeshi women entrepreneurs to develop new markets in the UK. Their inventiveness, tenacity and spirit of entrepreneurship serve as evidence of the enormous potential of Bangladeshi women-led enterprises.

    As Bangladesh and the UK continue to expand our bilateral trade through the UK’s Developing Countries Trading Scheme (DCTS), the UK will remain a steadfast partner. This trade mission will further solidify our trade and investment relationship.

    Updates to this page

    Published 4 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Return to the roots: 145 years of the historical foundation of the State University of Management!

    Translartion. Region: Russians Fedetion –

    Source: State University of Management – Official website of the State –

    In 2024, the State University of Management celebrated the 105th anniversary of its foundation. On April 30, 1919, according to the decree of the People’s Commissariat of Industry and Trade of the USSR, the Moscow Industrial and Economic Practical Institute (MPEPI) received the status of an institution equal to an institution of higher education. From that moment on, the official chronicle of our university has been kept. But, as often happens in times of change, some pages of history were forgotten. This happened with the biography of the First Management University of the country. We invite you to dive deep into the history of the SUM, rediscover it, and learn its origins.

    MPEPI did not appear out of nowhere. Before the proclaimed power of the Soviets, the address Staraya Basmannaya, 21/4 housed the Aleksandrovskoye and Nikolaevskoye commercial schools, as well as the Trade Schools named after the Emperor of Russia Nicholas II.

    On February 19, 1880 (March 3, new style), exactly 145 years ago, in honor of the 25th anniversary of the reign of Emperor Alexander II, the Moscow stock exchange merchants decided to found a commercial school in the capital for people of the trade and industrial class. Alexander II was not only a tsar-liberator (the Manifesto on the liberation of the peasants from serfdom was also signed on February 19 (March 3), 1861), but also a champion of education. Thus began the first chapter in the life of the Aleksandrovsky Commercial School, which years later acquired its current name – the State University of Management.

    The curricula approved by the Ministry of Finance in agreement with the Ministry of Public Education of the Russian Empire were adopted on July 11, 1885. The first academic season began at the same time.

    The Aleksandrovsk Commercial School was located at 21 Staraya Basmannaya in the building of the palace of Prince A.B. Kurakin. For decades to come, the school received significant support from the state and business, whose representatives joined the Board of Trustees of the “useful institution.” The members of this board and the teaching staff of the school were famous people of their time: P.M. Tretyakov, D.V. Tsvetaev, S.V. Alekseev, A.K. Trapeznikov, N.A. Naidenov, A.V. Letnikov. All of them were outstanding figures of that era, whose influence went far beyond the Moscow stock exchange community.

    The initiator of the creation of the school was a well-known entrepreneur, banker, chairman of the Stock Exchange Committee and chairman of the Board of Trustees of the school – Nikolai Aleksandrovich Naidenov. Its first director was a corresponding member of the St. Petersburg Academy of Sciences, an outstanding mathematician, and an organizer of science – Alexei Vasilyevich Letnikov.

    During that era, such scientists as mathematician V. Ya. Tsinger, historians V. I. Picheta and D. V. Tsvetaev, astronomer P. K. Sternberg and others taught. Incidentally, the exhibits of the school, which characterized the educational base and educational process, were awarded a medal at the World Exhibition in Paris in 1900. Some of the artifacts and photographs from those years are kept at the disposal of the Museum of the State University of Management, where you can also read literature and get acquainted with the exhibition stands telling about the first steps of the university at the turn of the 19th and 20th centuries.

    After the October Revolution of 1917, the existence of any institutions bearing the imperial name was no longer possible. New educational institutions with a practical focus – technical schools – were created in the country. The new historical form of the Aleksandrovsky Commercial School was the Moscow Industrial and Economic Technical School (MPET).

    The Soviet MPET was located in the same complex of buildings on Staraya Basmannaya. The teaching and student staff also remained almost unchanged. A letter calling for applications for work at the newly created technical school, published in the Izvestia newspaper on July 20, 1918, was answered by 53 teachers from the Aleksandrovsky, 23 from the Nikolaevsky commercial schools, and 21 teachers from the Women’s Trade School. Students who transferred from the Aleksandrovsky school continued their education at the MPET and years later received Soviet diplomas. The first heads of the technical school were teachers from the school and the trade school, Paisiy Ivanovich Shelkov and Arkady Grigorievich Arkhangelsky.

    Let us emphasize once again that most of the teachers and students of the Alexandrovsky Commercial School transferred to the MPET, even the address remained the same, only the statutory documents changed. The continuity of the intellectual heritage in the field of financial, economic, technical knowledge and the glorious traditions of the imperial school is direct and obvious.

    During the Soviet years, the idea of this continuity was abandoned based on the principle of “We are ours, we will build a new world.” In 1919, the MPET was transformed into the Moscow Industrial and Economic Practical Institute (MPEPI). Later, in the 1930s, the institute began to be called the Moscow Engineering and Economic Institute. And it bore this name until 1975, when, having gained a scientific, academic and pedagogical base of the new management order, it received a completely recognizable name – MIU, Moscow Institute of Management, which later became the State University of Management.

    Thus, we would like to pay tribute to historical justice. It is time to recognize and openly declare – the State University of Management turns 145 in 2025! The Aleksandrovsk Commercial School is the historical foundation of our university. It is impossible to forget and remain silent about this fact. It expresses the connection between generations and the university spirit of the first management academic institution in Russia.

    Happy anniversary, dear university! Happy 145th anniversary!

    Subscribe to the TG channel “Our GUU” Date of publication: 02/04/2025

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI China: Sino-EU ties seen as key to global growth

    Source: China State Council Information Office

    Strengthening China-European Union economic cooperation has become crucial for worldwide economic growth, as the United States’ tariff hikes against its key trading partners have cast a shadow over the global economy, said senior trade experts and EU business executives.

    They emphasized that amid growing global trade protectionism, the Chinese and EU economies’ structural complementarity and the two sides’ upholding of free trade provide a solid basis for deeper bilateral economic and trade collaboration. They also said the US tariff increases are likely to backfire.

    Zhang Yansheng, a researcher at the Chinese Academy of Macroeconomic Research, said the EU economy has advantages in high-end manufacturing, green technology and services trade, while China excels in digital infrastructure, smart manufacturing, application scenarios and a vast market.

    “China and the EU could consider establishing an industrial chain security dialogue mechanism to form a ‘cooperation list’ in key areas such as semiconductors and pharmaceuticals,” Zhang said.

    By creating platforms like industrial cooperation parks and joint innovation funds, the two sides’ strategic consensus can be transformed into concrete projects, in order to shape a practical and feasible road map for them to build a new, future-oriented type of economic and trade partnership, he said.

    “With the transformation and upgrading of China’s manufacturing industry, the competition between China and the EU in economic and trade development has intensified a bit,” Zhang said.

    “However, as they both face external challenges like rising protectionism and geopolitical uncertainties, the two economies are expected to forge closer economic ties based on complementary competition, thereby achieving a win-win situation,” Zhang added.

    Zhou Mi, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation, said the potential for collaboration between China and the EU is enhanced by their market complementarity and need for resource optimization.

    He said he expects more cooperation mechanisms between the two sides to boost collaboration by enterprises, drive innovation and improve the allocation of market resources.

    “By doing such things, China and the EU could generate significant economic and social benefits, boost employment and enhance supply chain security for both,” said Zhou, whose academy is affiliated with China’s Ministry of Commerce.

    China remains the EU’s largest import source and third-largest export destination, according to European statistics. Moreover, China’s outbound direct investment inflows to the EU grew from 6.27 billion euros ($6.43 billion) in 2020 to 8.06 billion euros in 2023, with greenfield investment reaching 5.3 billion euros in 2023 — an increase of 48 percent compared with 2022.

    Zhang, from the Chinese Academy of Macroeconomic Research, said that cooperation potential between China and the EU spans three key areas: green transformation, digital cooperation and third-party market development.

    The two economies could build a joint carbon-neutral laboratory focusing on clean technology collaboration, recognize each other’s cross-border e-commerce standards, and build dialogue mechanisms for cooperation in frontier areas like data flow and artificial intelligence ethics, he said.

    According to Zhou, from the Chinese Academy of International Trade and Economic Cooperation, China and the EU should focus in the short term on reviewing and strengthening existing supply chain cooperation, whether market-driven or government-promoted, by reducing trade barriers and increasing investment opportunities and the mobility of personnel.

    Long-term strategies should aim for more effective market integration through reduced tariffs, increased consultation mechanisms and enhanced collaboration on innovation, he added.

    Zhou also said that Sino-EU cooperation could extend beyond bilateral relations to include third-party market opportunities in Latin America, Africa and elsewhere.

    “This expanded cooperation could help address global challenges while strengthening both parties’ economic independence and meeting consumer demand in emerging technological sectors,” he added.

    Experts also said the US tariff hikes will not be good for anyone and will fail to achieve the so-called purpose of making America great again.

    Ju Jiandong, chair professor at Tsinghua University’s PBC School of Finance, said that if the US truly wants to maximize its own interests, it should not damage ties with its manufacturing suppliers.

    “Don’t go against the customers and don’t go against the suppliers – these are the ABCs of economics,” Ju said.

    Business leaders also said they have an optimistic outlook on China-EU economic and trade cooperation.

    Thomas Roemer, global head of the coatings and adhesives business entity of Covestro AG, a German polymer manufacturer, expressed strong support for fair, open and rule-based global trade.

    “We will continue to invest in China to provide our customers with innovative and sustainable solutions and products,” Roemer said.

    Denis Depoux, global managing director at German management consultancy Roland Berger, said the interdependence between the Chinese and EU economies remains significant.

    MIL OSI China News –

  • MIL-OSI: Dassault Systèmes: Strong Q4 results driven by new business acceleration and expanded 3DEXPERIENCE footprint

    Source: GlobeNewswire (MIL-OSI)

    Press Release

    VELIZY-VILLACOUBLAY, France — February 4, 2025

    Dassault Systèmes: Strong Q4 results driven by new business acceleration and expanded 3DEXPERIENCE footprint

    Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA) today reports its IFRS unaudited estimated financial results for the fourth quarter 2024 and full year ended December 31, 2024. The Group’s Board of Directors approved these estimated results on February 3, 2025. This press release also includes financial information on a non-IFRS basis and reconciliations with IFRS figures in the Appendix.

    Summary Highlights1  

    (unaudited, non-IFRS unless otherwise noted,
    all growth rates in constant currencies)

    • 4Q24: Software revenue accelerated to 9% growth;
    • 4Q24: Top line acceleration driven by new business growth of 13% and 3DEXPERIENCE software revenue up 22%;
    • 4Q24: Operating margin stood at 36.3%, an increase of 70 basis points, with diluted EPS of €0.40, up 11%;
    • FY24: Total revenue grew to €6.21 billion with software revenue up 6%, operating margin of 31.9% and diluted EPS of €1.28, up 9%;
    • Initiating guidance for FY25: total revenue growth expected between 6% and 8%, operating margin between 32.6% and 32.9%, up 70-100 basis points, and diluted EPS of €1.36-€1.39;
    • Revealing 3D UNIV+RSES and their AI-based services.

    Dassault Systèmes’ Chief Executive Officer Commentary

    Pascal Daloz, Dassault Systèmes’ Chief Executive Officer, commented:

    “2024 has been a year of competitive success, driven by the expansion of 3DEXPERIENCE across industries, domains and geographies, and redefining our strategic partnerships with industry leaders such as Volkswagen, Lockheed Martin, Mahindra & Mahindra, Airbus, and Bristol-Myers Squibb.

    Key to this success is the relevance of 3DEXPERIENCE combining deep industry knowledge and know-how to help customers enhance their value propositions and empower their teams. This will nurture our future growth and build the foundation for broad cloud adoption.

    Building on this strong foundation, we are excited to announce a new era for Dassault Systèmes. We are fully committed to creating UNIV+RSES, a combination of multiple virtual twins, integrating artificial intelligence to connect virtual and real, across all industry solutions. This will unlock new opportunities for our clients and position us as the trusted Global IP Generation and Management Company.”

    Dassault Systèmes’ Chief Financial Officer Commentary

    (revenue, operating margin and diluted EPS (‘EPS’) growth rates in constant currencies,
    data on a non-IFRS basis)

    Rouven Bergmann, Dassault Systèmes’ Chief Financial Officer, commented:

    “We delivered a strong Q4 in the context of a challenging year, with total revenue up 7%, driven by new business growth of 13% in the quarter. From a product line perspective, this performance was led by Industrial Innovation, up 8%, as a result of the wider adoption of 3DEXPERIENCE, with a focus on manufacturing. At the same time, we saw continued excellent performance in Mainstream Innovation while in Life Sciences, MEDIDATA returned to growth.

    Turning to the bottom line, profitability improved in the quarter with an operating margin of 36.3%, up 70 basis points driven by productivity gains, and EPS increased by a strong 11%.

    For 2024, software revenue growth was 6% and EPS grew by 9%. Operating cash flow came in at €1.66 billion resulting in a net cash position of €1.46 billion, highlighting our capacity for future investments.

    Looking ahead, we are confident in our growth outlook and competitive positioning.

    As such, for 2025 we anticipate total revenue growth between 6% and 8%, operating margin expansion of 70-100 basis points and EPS up 7% to 10%.

    Lastly, we are delighted to hold our Capital Markets Day this coming June, at our headquarters in Paris where it will be the opportunity to discuss our vision for the next horizon.”

    Financial Summary

    In millions of Euros,
    except per share data and percentages    		   IFRS   IFRS
      Q4 2024 Q4 2023 Change Change in constant currencies   YTD 2024 YTD 2023 Change Change in constant currencies
    Total Revenue   1,754.2 1,643.4 7% 7%   6,213.6 5,951.4 4% 5%
    Software Revenue   1,601.5 1,476.1 8% 9%   5,613.3 5,360.0 5% 6%
    Operating Margin   27.6% 23.2% +4.3pts     21.9% 20.9% +1.0pt  
    Diluted EPS   0.30 0.25 20%     0.90 0.79 14%  
    In millions of Euros,
    except per share data and percentages    		   Non-IFRS   Non-IFRS
      Q4 2024 Q4 2023 Change Change in constant currencies   YTD 2024 YTD 2023 Change Change in constant currencies
    Total Revenue   1,754.2 1,643.4 7% 7%   6,213.6 5,951.4 4% 5%
    Software Revenue   1,601.5 1,476.1 8% 9%   5,613.3 5,360.0 5% 6%
    Operating Margin   36.3% 35.9% +0.4pt     31.9% 32.4% (0.4)pt  
    Diluted EPS   0.40 0.36 9% 11%   1.28 1.20 7% 9%

    Fourth Quarter 2024 Versus 2023 Financial Comparisons

    (unaudited, IFRS and non-IFRS unless otherwise noted,
    all revenue growth rates in constant currencies)

    • Total Revenue: Total revenue in the fourth quarter grew by 7% to €1.75 billion, and software revenue increased by 9% to €1.60 billion. Subscription & support revenue rose 7%; recurring revenue represented 75% of software revenue. Licenses and other software revenue increased by 15% to €405 million. Services revenue was down 9% to €153 million, during the quarter.
    • Software Revenue by Geography: Revenue in the Americas increased by 5% to represent 37% of software revenue, led by Aerospace & Defense. Europe (43% of software revenue) grew by 14%, thanks to large deals closed in Aerospace & Defense and Home & Lifestyle. In Asia, revenue increased by 7%, led by Japan and India, while China remained volatile. Asia represented 20% of software revenue at the end of the fourth quarter.
    • Software Revenue by Product Line:
      • Industrial Innovation software revenue increased by 8% to €902 million, driven by strong momentum with 3DEXPERIENCE wins and many strategic competitive displacements, led by DELMIA in manufacturing. Industrial Innovation software represented 56% of software revenue.
      • Life Sciences software revenue was flat, at €298 million, accounting for 19% of software revenue. MEDIDATA returned to growth, up 1% in the quarter, highlighting progressive improvement.
      • Mainstream Innovation software revenue increased by 17% to €402 million, with SOLIDWORKS achieving its best quarter since 2022 and CENTRIC PLM maintaining strong momentum. Mainstream Innovation represented 25% of software revenue, during the period.
    • Software Revenue by Industry: Aerospace & Defense, Home & Lifestyle and Industrial Equipment were among the best performers during the quarter.
    • Key Strategic Drivers: 3DEXPERIENCE software revenue increased by 22% thanks to major deals signings in Aerospace & Defense and Transport & Mobility. 3DEXPERIENCE software revenue represented 46% of 3DEXPERIENCE eligible software revenue. Cloud software revenue grew by 6% and represented 22% of software revenue during the period. Excluding MEDIDATA, Cloud software revenue increased by 19%.
    • Operating Income and Margin: IFRS operating income rose by 27% at €483 million, as reported. Non-IFRS operating income increased by 9% in constant currencies at €637 million (up 8% as reported). The IFRS operating margin stood at 27.6% compared to 23.2% in the fourth quarter of 2023. The non-IFRS operating margin totaled 36.3% versus 35.9% during the same period last year, up 70 basis points in constant currencies.
    • Earnings per Share: IFRS diluted EPS was €0.30, up 20% as reported. Non-IFRS diluted EPS grew to €0.40, up 9% as reported, or 11% in constant currencies.

    Fiscal 2024 Versus 2023 Financial Comparisons

    (unaudited, IFRS and non-IFRS unless otherwise noted,
    all revenue growth rates in constant currencies)

    • Total Revenue: Total revenue grew by 5% to €6.21 billion. Software revenue increased by 6% to €5.61 billion. Subscription and support revenue rose to €4.49 billion up 6%; recurring revenue represented 80% of total software revenue. Licenses and other software revenue grew by 4% to €1.13 billion. Services revenue came at €600 million, up 2%.
    • Software Revenue by Geography: The Americas increased by 4% and represented 39% of software revenue. Europe rose by 6% and represented 38% of software revenue. Asia grew by 9%, representing 22% of software revenue.
    • Software Revenue by Product Line:
      • Industrial Innovation software revenue was up 5% to €3.02 billion and represented 54% of software revenue. DELMIA, ENOVIA and SIMULIA exhibited the strongest performance.
    • Life Sciences software revenue decreased by 1% to €1.14 billion, representing 20% of software revenue.
    • Mainstream Innovation software revenue increased by 13% to €1.45 billion. Mainstream Innovation represented 26% of software revenue.
    • Software Revenue by Industry: Home & Lifestyle, Aerospace and Defense, High-Tech and Industrial equipment displayed some of the strongest performance.
    • Key Strategic Drivers: 3DEXPERIENCE software revenue increased by 14%, representing 39% of 3DEXPERIENCE eligible software revenue. Cloud software revenue grew by 7% and represented 24% of software revenue. Excluding MEDIDATA, Cloud software revenue increased by more than 40% versus last year.
    • Operating Income and Margin: IFRS operating income increased by 9% to €1.36 billion, as reported. Non-IFRS operating income increased by 3% as reported, up 4% in constant currencies, to €1.98 billion. IFRS operating margin totaled 21.9% compared to 20.9% in 2023. The non-IFRS operating margin stood at 31.9% in 2024 compared to 32.4% last year.
    • Earnings per Share: IFRS diluted EPS was up 14% as reported, to €0.90. Non-IFRS diluted EPS grew by 7% to €1.28, as reported, up 9% in constant currencies.
    • Cash Flow from Operations (IFRS): Cash flow from operations totaled €1.66 billion, up 6% year over year at reported rate with strong cash conversion and good cash collection, offset by receivables up on higher business activity in the fourth quarter.
    • Balance Sheet (IFRS): Dassault Systèmes had a net cash position of €1.46 billion as of December 31, 2024, an increase of €0.88 billion, compared to €0.58 billion for the year ending December 31, 2023. Cash and cash equivalents totaled €3.95 billion at the end of December 2024. The movements of the year on cash and cash equivalents include the reimbursement for €700 million of the second tranche of the bond issued by the company in 2019.

    Financial Objectives for 2025

    Dassault Systèmes’ first quarter and 2025 financial objectives presented below are given on a non-IFRS basis and reflect the principal 2025 currency exchange rate assumptions for the US dollar and Japanese yen as well as the potential impact from additional non-Euro currencies:

               
          Q1 2025 FY 2025  
      Total Revenue (billion) €1.535 – €1.601 €6.550 – €6.650  
      Growth 2 – 7% 5 – 7%  
      Growth ex FX 3 – 8% 6 – 8%  
               
      Software revenue growth * 3 – 8% 6 – 8%  
        Of which licenses and other software revenue growth * 0 – 9% 3 – 5%  
        Of which recurring revenue growth * 4 – 8% 7 – 9%  
     

    Services revenue growth *

    0 – 4%

    		 3 – 6%  
               
      Operating Margin 31.0% – 31.1% 32.6% – 32.9%  
               
      EPS Diluted €0.30 – €0.32 €1.36 – €1.39  
      Growth 2 – 6% 6 – 8%  
      Growth ex FX 3 – 7% 7 – 10%  
               
      US dollar $1.10 per Euro $1.10 per Euro  
      Japanese yen (before hedging) JPY 155.0 per Euro JPY 155.0 per Euro  
      * Growth in Constant Currencies      

    These objectives are prepared and communicated only on a non-IFRS basis and are subject to the cautionary statement set forth below.

    The 2025 non-IFRS financial objectives set forth above do not take into account the following accounting elements below and are estimated based upon the 2025 principal currency exchange rates above: no significant contract liabilities write-downs; share-based compensation expenses, including related social charges, estimated at approximately €161 million (these estimates do not include any new stock option or share grants issued after December 31, 2024); amortization of acquired intangibles and of tangibles reevaluation, estimated at approximately €336 million, largely impacted by the acquisition of MEDIDATA; and lease incentives of acquired companies at approximately €2 million.

    The above objectives also do not include any impact from other operating income and expenses, a net principally comprised of acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; from one-time items included in financial revenue; from one-time tax effects; and from the income tax effects of these non-IFRS adjustments. Finally, these estimates do not include any new acquisitions or restructuring completed after December 31, 2024.

    Corporate Announcements

    Today’s Webcast and Conference Call Information

    Today, Tuesday, February 4, 2025, Dassault Systèmes will host, from Paris, a webcasted presentation at 9:00 AM London Time / 10:00 AM Paris time, and will then host a conference call at 8:30 AM New York time / 1:30 PM London time / 2:30 PM Paris time. The webcasted presentation and conference calls will be available online by accessing investor.3ds.com.

    Additional investor information is available at investor.3ds.com or by calling Dassault Systèmes’ Investor Relations at +33.1.61.62.69.24.

    Investor Relations Events

    • First Quarter 2025 Earnings Release: April 24, 2025
    • Second Quarter 2025 Earnings Release: July 24, 2025
    • Third Quarter 2025 Earnings Release: October 23, 2025

    Forward-looking Information

    Statements herein that are not historical facts but express expectations or objectives for the future, including but not limited to statements regarding the Group’s non-IFRS financial performance objectives are forward-looking statements. Such forward-looking statements are based on Dassault Systèmes management’s current views and assumptions and involve known and unknown risks and uncertainties. Actual results or performances may differ materially from those in such statements due to a range of factors.

    The Group’s actual results or performance may be materially negatively affected by numerous risks and uncertainties, as described in the “Risk Factors” section 1.9 of the 2023 Universal Registration Document (‘Document d’enregistrement universel’) filed with the AMF (French Financial Markets Authority) on March 18, 2024, available on the Group’s website www.3ds.com.

    In particular, please refer to the risk factor “Uncertain Global Economic Environment” in section 1.9.1.1 of the 2023 Universal Registration Document set out below for ease of reference:

    “In light of the uncertainties regarding economic, business, social, health and geopolitical conditions at the global level, Dassault Systèmes’ revenue, net earnings and cash flows may grow more slowly, whether on an annual or quarterly basis, mainly due to the following factors:

    • the deployment of Dassault Systèmes’ solutions may represent a large portion of a customer’s investments in software technology. Decisions to make such an investment are impacted by the economic environment in which the customers operate. Uncertain global geopolitical, economic and health conditions and the lack of visibility or the lack of financial resources may cause some customers, e.g. within the automotive, aerospace, energy or natural resources industries, to reduce, postpone or terminate their investments, or to reduce or not renew ongoing paid maintenance for their installed base, which impact larger customers’ revenue with their respective sub-contractors;
    • the political, economic and monetary situation in certain geographic regions where Dassault Systèmes operates could become more volatile and impact Dassault Systèmes’ business, for example, due to stricter export compliance rules or the introduction of new customs tariffs;
    • continued pressure or volatility on raw materials and energy prices could also slow down Dassault Systèmes’ diversification efforts in new industries;
    • uncertainties regarding the extent and duration of inflation could adversely affect the financial position of Dassault Systèmes; and
    • the sales cycle of Dassault Systèmes’ products – already relatively long due to the strategic nature of such investments for customers – could further lengthen.

    The occurrence of crises – health and political in particular – could have consequences both for the health and safety of Dassault Systèmes’ employees and for the Company. It could also adversely impact the financial situation or financing and supply capabilities of Dassault Systèmes’ existing and potential customers, commercial and technology partners, some of whom may be forced to temporarily close sites or cease operations. A deteriorating economic environment could generate increased price pressure and affect the collection of receivables, which would negatively impact Dassault Systèmes’ revenue, financial performance and market position.

    Dassault Systèmes makes every effort to take into consideration this uncertain macroeconomic outlook. Dassault Systèmes’ business results, however, may not develop as anticipated. Furthermore, due to factors affecting sales of Dassault Systèmes’ products and services, there may be a substantial time lag between an improvement in global economic and business conditions and an upswing in the Company’s business results.

    In preparing such forward-looking statements, the Group has in particular assumed an average US dollar to euro exchange rate of US$1.10 per €1.00 as well as an average Japanese yen to euro exchange rate of JPY155.0 to €1.00, before hedging for the first quarter 2025. The Group has assumed an average US dollar to euro exchange rate of US$1.10 per €1.00 as well as an average Japanese yen to euro exchange rate of JPY155.0 to €1.00, before hedging for the full year 2025. However, currency values fluctuate, and the Group’s results may be significantly affected by changes in exchange rates.   

    Non-IFRS Financial Information

    Readers are cautioned that the supplemental non-IFRS financial information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered in isolation from or as a substitute for IFRS measurements. The supplemental non-IFRS financial information should be read only in conjunction with the Company’s consolidated financial statements prepared in accordance with IFRS. Furthermore, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Specific limitations for individual non-IFRS measures are set forth in the Company’s 2024 Universal Registration Document filed with the AMF on March 18, 2024.

    In the tables accompanying this press release the Group sets forth its supplemental non-IFRS figures for revenue, operating income, operating margin, net income and diluted earnings per share, which exclude the effect of adjusting the carrying value of acquired companies’ deferred revenue, share-based compensation expense and related social charges, the amortization of acquired intangible assets and of tangibles reevaluation, certain other operating income and expense, net, including impairment of goodwill and acquired intangibles, the effect of adjusting lease incentives of acquired companies, certain one-time items included in financial revenue and other, net, and the income tax effect of the non-IFRS adjustments and certain one-time tax effects. The tables also set forth the most comparable IFRS financial measure and reconciliations of this information with non-IFRS information.

    FOR MORE INFORMATION

    Dassault Systèmes’ 3DEXPERIENCE platform, 3D design software, 3D Digital Mock Up and Product Lifecycle Management (PLM) solutions: http://www.3ds.com

    ABOUT DASSAULT SYSTÈMES

    Dassault Systèmes is a catalyst for human progress. Since 1981, the company has pioneered virtual worlds to improve real life for consumers, patients and citizens. With Dassault Systèmes’ 3DEXPERIENCE platform, 350,000 customers of all sizes, in all industries, can collaborate, imagine and create sustainable innovations that drive meaningful impact. For more information, visit www.3ds.com

    Dassault Systèmes Investor Relations Team                        FTI Consulting

    Beatrix Martinez: +33 1 61 62 40 73                                Arnaud de Cheffontaines: +33 1 47 03 69 48

                                                                    Jamie Ricketts : +44 20 3727 1600

    investors@3ds.com

    Dassault Systèmes Press Contacts

    Corporate / France        Arnaud MALHERBE        

    arnaud.malherbe@3ds.com        

    +33 (0)1 61 62 87 73

    © Dassault Systèmes. All rights reserved. 3DEXPERIENCE, the 3DS logo, the Compass icon, IFWE, 3DEXCITE, 3DVIA, BIOVIA, CATIA, CENTRIC PLM, DELMIA, ENOVIA, GEOVIA, MEDIDATA, NETVIBES, OUTSCALE, SIMULIA and SOLIDWORKS are commercial trademarks or registered trademarks of Dassault Systèmes, a European company (Societas Europaea) incorporated under French law, and registered with the Versailles trade and companies registry under number 322 306 440, or its subsidiaries in the United States and/or other countries. All other trademarks are owned by their respective owners. Use of any Dassault Systèmes or its subsidiaries trademarks is subject to their express written approval.

    APPENDIX TABLE OF CONTENTS

    Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.    

    Glossary of Definitions

    Non-IFRS Financial Information

    Acquisitions and Foreign Exchange Impact

    Condensed consolidated statements of income

    Condensed consolidated balance sheet

    Condensed consolidated cash flow statement

    IFRS – non-IFRS reconciliation

    DASSAULT SYSTÈMES – Glossary of Definitions

    Information in Constant Currencies

    Dassault Systèmes has followed a long-standing policy of measuring its revenue performance and setting its revenue objectives exclusive of currency in order to measure in a transparent manner the underlying level of improvement in its total revenue and software revenue by activity, industry, geography and product lines. The Group believes it is helpful to evaluate its growth exclusive of currency impacts, particularly to help understand revenue trends in its business. Therefore, the Group provides percentage increases or decreases in its revenue and expenses (in both IFRS as well as non-IFRS) to eliminate the effect of changes in currency values, particularly the U.S. dollar and the Japanese yen, relative to the euro. When trend information is expressed “in constant currencies”, the results of the “prior” period have first been recalculated using the average exchange rates of the comparable period in the current year, and then compared with the results of the comparable period in the current year.

    While constant currency calculations are not considered to be an IFRS measure, the Group believes these measures are critical to understanding its global revenue results and to compare with many of its competitors who report their financial results in U.S. dollars. Therefore, Dassault Systèmes includes this calculation for comparing IFRS revenue figures as well non-IFRS revenue figures for comparable periods. All information at constant exchange rates is expressed as a rounded percentage and therefore may not precisely reflect the absolute figures.

    Information on Growth excluding acquisitions (“organic growth”)

    In addition to financial indicators on the entire Group’s scope, Dassault Systèmes provides growth excluding acquisitions effect, also named organic growth. In order to do so, the data relating to the scope is restated excluding acquisitions, from the date of the transaction, over a period of 12 months.

    Information on Industrial Sectors

    The Group provides broad end-to-end software solutions and services: its platform-based virtual twin experiences combine modeling, simulation, data science and collaborative innovation to support companies in the three sectors it serves, namely Manufacturing Industries, Life Sciences & Healthcare, and Infrastructure & Cities.

    These three sectors comprise twelve industries:

    • Manufacturing Industries: Transportation & Mobility; Aerospace & Defense; Marine & Offshore; Industrial Equipment; High-Tech; Home & Lifestyle; Consumer Packaged Goods – Retail. In Manufacturing Industries, Dassault Systèmes helps customers virtualize their operations, improve data sharing and collaboration across their organization, reduce costs and time-to-market, and become more sustainable;
    • Life Sciences & Healthcare: Life Sciences & Healthcare. In this sector, the Group aims to address the entire cycle of the patient journey to lead the way toward precision medicine. To reach the broader healthcare ecosystem from research to commercial, the Group’s solutions connect all elements from molecule development to prevention to care, and combine new therapeutics, med practices, and Medtech;
    • Infrastructure & Cities: Infrastructure, Energy & Materials; Architecture, Engineering & Construction; Business Services; Cities & Public Services. In Infrastructure & Cities, the Group supports the virtualization of the sector in making its industries more efficient and sustainable, and creating desirable living environments.

    Information on Product Lines

    The Group’s product lines financial reporting include the following financial information:

    • Industrial Innovation software revenue, which includes CATIA, ENOVIA, SIMULIA, DELMIA, GEOVIA, NETVIBES, and 3DEXCITE brands;
    • Life Sciences software revenue, which includes MEDIDATA and BIOVIA brands;
    • Mainstream Innovation software revenue which includes its CENTRIC PLM and 3DVIA brands, as well as its 3DEXPERIENCE WORKS family which includes the SOLIDWORKS brand.

    Starting from 2022, OUTSCALE became a brand of the Group, extending the portfolio of software applications. As the first sovereign and sustainable operator on the cloud, OUTSCALE enables governments and corporations from all sectors to achieve digital autonomy through a Cloud experience and with a world-class cyber governance.

    GEOs

    Eleven GEOs are responsible for driving development of the Company’s business and implementing its customer‑centric engagement model. Teams leverage strong networks of local customers, users, partners, and influencers.

    These GEOs are structured into three groups:

    • the “Americas” group, made of two GEO’s;
    • the “Europe” group, comprising Europe, Middle East and Africa (EMEA) and made of four GEO’s;
    • the “Asia” group, comprising Asia and Oceania and made of five GEO’s.

    3DEXPERIENCE Software Contribution

    To measure the relative share of 3DEXPERIENCE software in its revenues, Dassault Systèmes uses the following ratio: for software revenue, the Group calculates the percentage contribution by comparing total 3DEXPERIENCE software revenue to software revenue for all product lines except SOLIDWORKS, MEDIDATA, CENTRIC PLM and other acquisitions (defined as “3DEXPERIENCE Eligible software revenue”).

    Cloud revenue

    Cloud revenues correspond to revenue generated through a catalog of cloud-based solutions, infrastructure as a service, cloud solution development and cloud managed services. They are delivered by Dassault Systèmes via a cloud infrastructure hosted by Dassault Systèmes, or by third party providers of cloud computing infrastructure services. These offerings are available through different deployment methods: Dedicated cloud, Sovereign cloud and International cloud. Cloud solutions are generally offered through subscriptions models or perpetual licenses with support and hosting services.

    New business

    New business is the combination of subscription revenue and licenses & other software revenue.

    DASSAULT SYSTÈMES

    NON-IFRS FINANCIAL INFORMATION

    (unaudited; in millions of Euros, except per share data, percentages, headcount and exchange rates)

    Non-IFRS key figures exclude the effects of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue), share-based compensation expense, including related social charges, amortization of acquired intangible assets and of tangible assets revaluation, lease incentives of acquired companies, other operating income and expense, net, including the acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets, certain one-time items included in financial loss, net, certain one-time tax effects and the income tax effects of these non-IFRS adjustments.

    Comparable IFRS financial information and a reconciliation of the IFRS and non-IFRS measures are set forth in the separate tables within this Attachment.

    In millions of Euros, except per share data, percentages, headcount and exchange rates Non-IFRS reported
    Three months ended Twelve months ended
    December 31,

    2024

    		 December 31,

    2023

    		 Change Change in constant currencies December 31,

    2024

    		 December 31,

    2023

    		 Change Change in constant currencies
    Total Revenue € 1,754.2 € 1,643.4 7% 7% € 6,213.6 € 5,951.4 4% 5%
                     
    Revenue breakdown by activity                
    Software revenue 1,601.5 1,476.1 8% 9% 5,613.3 5,360.0 5% 6%
    Of which licenses and other software revenue 405.4 351.9 15% 15% 1,125.2 1,087.6 3% 4%
    Of which subscription and support revenue 1,196.1 1,124.3 6% 7% 4,488.1 4,272.4 5% 6%
    Services revenue 152.8 167.3 (9)% (9)% 600.3 591.4 2% 2%
                     
    Software revenue breakdown by product line                
    Industrial Innovation 901.8 837.3 8% 8% 3,019.6 2,908.0 4% 5%
    Life Sciences 297.7 295.1 1% 0% 1,144.2 1,158.9 (1)% (1)%
    Mainstream Innovation 402.0 343.7 17% 17% 1,449.4 1,293.2 12% 13%
                     
    Software Revenue breakdown by geography                
    Americas 595.0 566.7 5% 5% 2,214.7 2,141.9 3% 4%
    Europe 685.0 601.1 14% 14% 2,150.4 2,027.3 6% 6%
    Asia 321.4 308.4 4% 7% 1,248.1 1,190.8 5% 9%
                     
    Operating income € 636.8 € 589.8 8%   € 1,983.7 € 1,925.6 3%  
    Operating margin 36.3% 35.9%     31.9% 32.4%    
                     
    Net income attributable to shareholders € 530.7 € 487.2 9%   € 1,705.1 € 1,597.9 7%  
    Diluted earnings per share € 0.40 € 0.36 9% 11% € 1.28 € 1.20 7% 9%
                     
    Closing headcount 26,026 25,573 2%   26,026 25,573 2%  
                     
    Average Rate USD per Euro 1.07 1.08 (1)%   1.08 1.08 0%  
    Average Rate JPY per Euro 162.55 159.12 2%   163.85 151.99 8%  

    DASSAULT SYSTÈMES

    ACQUISITIONS AND FOREIGN EXCHANGE IMPACT

    (unaudited; in millions of Euros)

    In millions of Euros Non-IFRS reported o/w growth at constant rate and scope o/w change of scope impact at current year rate o/w FX impact on previous year figures
    December 31,

    2024

    		 December 31,

    2023

    		 Change
    Revenue QTD 1,754.2 1,643.4 110.9 111.8 0.6 (1.6)
    Revenue YTD 6,213.6 5,951.4 262.2 302.0 2.2 (42.0)

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED STATEMENTS OF INCOME

    (unaudited; in millions of Euros, except per share data and percentages)

    In millions of Euros, except per share data and percentages IFRS reported
    Three months ended Twelve months ended
    December 31, December 31, December 31, December 31,
    2024 2023 2024 2023
    Licenses and other software revenue 405.4 351.9 1,125.2 1,087.6
    Subscription and Support revenue 1,196.1 1,124.3 4,488.1 4,272.4
    Software revenue 1,601.5 1,476.1 5,613.3 5,360.0
    Services revenue 152.8 167.3 600.3 591.4
    Total Revenue € 1,754.2 € 1,643.4 € 6,213.6 € 5,951.4
    Cost of software revenue (1) (134.1) (124.9) (498.5) (453.9)
    Cost of services revenue (132.7) (131.0) (517.8) (517.1)
    Research and development expenses (327.7) (317.5) (1,286.2) (1,228.3)
    Marketing and sales expenses (456.6) (429.3) (1,704.3) (1,624.5)
    General and administrative expenses (136.4) (124.8) (470.5) (450.6)
    Amortization of acquired intangible assets and of tangible assets revaluation (87.5) (94.9) (361.6) (378.9)
    Other operating income and expense, net 4.2 (39.5) (15.0) (56.2)
    Total Operating Expenses (1,270.9) (1,261.8) (4,854.0) (4,709.5)
    Operating Income € 483.4 € 381.6 € 1,359.6 € 1,241.9
    Financial income (loss), net 22.9 27.8 118.4 59.0
    Income before income taxes € 506.3 € 409.4 € 1,478.0 € 1,300.9
    Income tax expense (95.4) (79.1) (279.9) (250.7)
    Net Income € 410.9 € 330.3 € 1,198.1 € 1,050.2
    Non-controlling interest 1.1 (0.3) 2.1 0.7
    Net Income attributable to equity holders of the parent € 412.0 € 330.0 € 1,200.2 € 1,050.9
    Basic earnings per share 0.31 0.25 0.91 0.80
    Diluted earnings per share € 0.30 € 0.25 € 0.90 € 0.79
    Basic weighted average shares outstanding (in millions) 1,312.7 1,314.1 1,313.3 1,315.1
    Diluted weighted average shares outstanding (in millions) 1,330.0 1,336.6 1,333.4 1,336.8

    (1) Excluding amortization of acquired intangible assets and of tangible assets revaluation.

    IFRS reported

     

    		 Three months ended December 31, 2024 Twelve months ended December 31, 2024
    Change (2) Change in constant currencies Change (2) Change in constant currencies
    Total Revenue 7% 7% 4% 5%
    Revenue by activity        
    Software revenue 8% 9% 5% 6%
    Services revenue (9)% (9)% 2% 2%
    Software Revenue by product line        
    Industrial Innovation 8% 8% 4% 5%
    Life Sciences 1% 0% (1)% (1)%
    Mainstream Innovation 17% 17% 12% 13%
    Software Revenue by geography        
    Americas 5% 5% 3% 4%
    Europe 14% 14% 6% 6%
    Asia 4% 7% 5% 9%

    (2) Variation compared to the same period in the prior year.

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED BALANCE SHEET

    (unaudited; in millions of Euros)

    In millions of Euros IFRS reported
    December 31, December 31,
    2024 2023
    ASSETS    
    Cash and cash equivalents 3,952.6 3,568.3
    Trade accounts receivable, net 2,120.9 1,707.9
    Contract assets 30.1 26.8
    Other current assets 464.0 477.1
    Total current assets 6,567.6 5,780.1
    Property and equipment, net 945.8 882.8
    Goodwill and Intangible assets, net 7,687.1 7,647.0
    Other non-current assets 345.5 312.5
    Total non-current assets 8,978.3 8,842.3
    Total Assets € 15,545.9 € 14,622.5
    LIABILITIES    
    Trade accounts payable 259.9 230.5
    Contract liabilities 1,663.4 1,479.3
    Borrowings, current 450.8 950.1
    Other current liabilities 1,147.4 901.0
    Total current liabilities 3,521.5 3,561.0
    Borrowings, non-current 2,042.8 2,040.6
    Other non-current liabilities 900.9 1,174.8
    Total non-current liabilities 2,943.7 3,215.4
    Non-controlling interests 14.1 11.9
    Parent shareholders’ equity 9,066.6 7,834.1
    Total Liabilities € 15,545.9 € 14,622.5

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED CASH FLOW STATEMENT

    (unaudited; in millions of Euros)

    In millions of Euros IFRS reported
    Three months ended Twelve months ended
    December 31, December 31, Change December 31, December 31, Change
    2024 2023 2024 2023
    Net income attributable to equity holders of the parent 412.0 330.0 82.0 1,200.2 1,050.9 149.3
    Non-controlling interest (1.1) 0.3 (1.4) (2.1) (0.7) (1.4)
    Net income 410.9 330.3 80.6 1,198.1 1,050.2 147.9
    Depreciation of property and equipment 49.7 44.0 5.7 191.9 182.4 9.4
    Amortization of intangible assets 89.4 96.8 (7.4) 369.1 387.1 (18.0)
    Adjustments for other non-cash items (75.9) (48.8) (27.0) 37.7 74.7 (37.0)
    Changes in working capital (162.1) (128.8) (33.3) (137.0) (129.2) (7.7)
    Net Cash From Operating Activities € 312.0 € 293.4 € 18.6 € 1,659.8 € 1,565.2 € 94.6
                 
    Additions to property, equipment and intangibles assets (49.1) (42.5) (6.6) (193.4) (145.3) (48.1)
    Payment for acquisition of businesses, net of cash acquired (4.2) (0.5) (3.8) (22.5) (16.1) (6.4)
    Other 0.3 0.1 0.1 24.1 (0.3) 24.4
    Net Cash Provided by (Used in) Investing Activities € (53.1) € (42.9) € (10.2) € (191.7) € (161.6) € (30.1)
                 
    Proceeds from exercise of stock options 4.4 28.5 (24.1) 48.4 67.0 (18.6)
    Cash dividends paid – 0.0 (0.0) (302.7) (276.2) (26.4)
    Repurchase and sale of treasury stock (0.5) 10.6 (11.1) (374.0) (375.4) 1.4
    Capital increase – (0.0) 0.0 – 146.1 (146.1)
    Acquisition of non-controlling interests (0.0) (0.1) 0.1 (3.3) (0.9) (2.4)
    Proceeds from borrowings – 0.0 (0.0) 200.2 20.3 179.9
    Repayment of borrowings (100.0) 0.1 (100.0) (700.9) (28.1) (672.7)
    Repayment of lease liabilities (18.7) (26.3) 7.7 (79.7) (89.4) 9.7
    Net Cash Provided by (Used in) Financing Activities € (114.8) € 12.7 € (127.5) € (1,211.9) € (536.7) € (675.2)
                 
    Effect of exchange rate changes on cash and cash equivalents 150.8 (63.2) 213.9 128.2 (67.5) 195.7
                 
    Increase (decrease) in cash and cash equivalents € 294.9 € 200.1 € 94.8 € 384.3 € 799.3 € (415.0)
                 
    Cash and cash equivalents at beginning of period € 3,657.7 € 3,368.1   € 3,568.3 € 2,769.0  
    Cash and cash equivalents at end of period € 3,952.6 € 3,568.3   € 3,952.6 € 3,568.3  

    DASSAULT SYSTÈMES
    SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
    IFRS – NON-IFRS RECONCILIATION
    (unaudited; in millions of Euros, except per share data and percentages)

    Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Further specific limitations for individual non-IFRS measures, and the reasons for presenting non-IFRS financial information, are set forth in the Group’s Document d’Enregistrement Universel for the year ended December 31, 2023 filed with the AMF on March 18, 2024. To compensate for these limitations, the supplemental non-IFRS financial information should be read not in isolation, but only in conjunction with the Group’s consolidated financial statements prepared in accordance with IFRS.

    In millions of Euros, except per share data and percentages Three months ended December 31, Change
    2024 Adjustment(1) 2024 2023 Adjustment(1) 2023 IFRS Non-IFRS(2)
    IFRS Non-IFRS IFRS Non-IFRS
    Total Revenue € 1,754.2 – € 1,754.2 € 1,643.4 – € 1,643.4 7% 7%
    Revenue breakdown by activity                
    Software revenue 1,601.5 – 1,601.5 1,476.1 – 1,476.1 8% 8%
    Licenses and other software revenue 405.4 – 405.4 351.9 – 351.9 15% 15%
    Subscription and Support revenue 1,196.1 – 1,196.1 1,124.3 – 1,124.3 6% 6%
    Recurring portion of Software revenue 75%   75% 76%   76%    
    Services revenue 152.8 – 152.8 167.3 – 167.3 (9)% (9)%
    Software Revenue breakdown by product line                
    Industrial Innovation 901.8 – 901.8 837.3 – 837.3 8% 8%
    Life Sciences 297.7 – 297.7 295.1 – 295.1 1% 1%
    Mainstream Innovation 402.0 – 402.0 343.7 – 343.7 17% 17%
    Software Revenue breakdown by geography                
    Americas 595.0 – 595.0 566.7 – 566.7 5% 5%
    Europe 685.0 – 685.0 601.1 – 601.1 14% 14%
    Asia 321.4 – 321.4 308.4 – 308.4 4% 4%
    Total Operating Expenses € (1,270.9) € 153.4 € (1,117.5) € (1,261.8) € 208.2 € (1,053.6) 1% 6%
    Share-based compensation expense and related social charges (69.7) 69.7 – (73.2) 73.2 –    
    Amortization of acquired intangible assets and of tangible assets revaluation (87.5) 87.5 – (94.9) 94.9 –    
    Lease incentives of acquired companies (0.4) 0.4 – (0.7) 0.7 –    
    Other operating income and expense, net 4.2 (4.2) – (39.5) 39.5 –    
    Operating Income € 483.4 € 153.4 € 636.8 € 381.6 € 208.2 € 589.8 27% 8%
    Operating Margin 27.6%   36.3% 23.2%   35.9%    
    Financial income (loss), net 22.9 1.1 24.0 27.8 1.0 28.8 (18)% (17)%
    Income tax expense (95.4) (33.2) (128.6) (79.1) (51.3) (130.4) 21% (1)%
    Non-controlling interest 1.1 (2.6) (1.5) (0.3) (0.7) (1.0) N/A 53%
    Net Income attributable to shareholders € 412.0 € 118.7 € 530.7 € 330.0 € 157.2 € 487.2 25% 9%
    Diluted Earnings Per Share (3) € 0.30 € 0.10 € 0.40 € 0.25 € 0.12 € 0.36 20% 9%

    (1) In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the effect of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue); (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangible assets and of tangible assets revaluation, share-based compensation expense, including related social charges, lease incentives of acquired companies, as detailed below, and other operating income and expense, net including acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; (iii) adjustments to IFRS financial loss, net reflect the exclusion of certain one-time items included in financial loss, net, and; (iv) all adjustments to IFRS income data reflect the combined effect of these adjustments, plus with respect to net income and diluted earnings per share, certain one-time tax effects and the income tax effect of the non-IFRS adjustments.

    In millions of Euros, except percentages Three months ended December 31, Change
    2024

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2024

    Non-IFRS

    		 2023

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2023

    Non-IFRS

    		 IFRS Non-

    IFRS
    Cost of revenue (266.9) 5.0 0.1 (261.8) (255.9) 3.6 0.2 (252.1) 4% 4%
    Research and development expenses (327.7) 18.2 0.2 (309.3) (317.5) 28.5 0.3 (288.7) 3% 7%
    Marketing and sales expenses (456.6) 25.1 0.1 (431.4) (429.3) 20.9 0.1 (408.3) 6% 6%
    General and administrative expenses (136.4) 21.4 0.0 (115.0) (124.8) 20.2 0.0 (104.5) 9% 10%
    Total   € 69.7 € 0.4     € 73.2 € 0.7      

    (2) The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure.
    (3) Based on a weighted average 1,330.0 million diluted shares for Q4 2024 and 1,336.6 million diluted shares for Q4 2023, and, for IFRS only, a diluted net income attributable to the sharehorlders of € 394.7 million for Q4 2024 (€ 330.0 million for Q4 2023). The Diluted net income attributable to equity holders of the Group corresponds to the Net Income attributable to equity holders of the Group adjusted by the impact of the share-based compensation plans to be settled either in cash or in shares at the option of the Group.

    DASSAULT SYSTÈMES
    SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
    IFRS – NON-IFRS RECONCILIATION
    (unaudited; in millions of Euros, except per share data and percentages)

    Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Further specific limitations for individual non-IFRS measures, and the reasons for presenting non-IFRS financial information, are set forth in the Group’s Document d’Enregistrement Universel for the year ended December 31, 2023 filed with the AMF on March 18, 2024. To compensate for these limitations, the supplemental non-IFRS financial information should be read not in isolation, but only in conjunction with the Group’s consolidated financial statements prepared in accordance with IFRS.

    In millions of Euros, except per share data and percentages Twelve months ended December 31, Change
    2024 Adjustment(1) 2024 2023 Adjustment(1) 2023 IFRS Non-IFRS(2)
    IFRS Non-IFRS IFRS Non-IFRS
    Total Revenue € 6,213.6   € 6,213.6 € 5,951.4 – € 5,951.4 4% 4%
    Revenue breakdown by activity                
    Software revenue 5,613.3   5,613.3 5,360.0 – 5,360.0 5% 5%
    Licenses and other software revenue 1,125.2 – 1,125.2 1,087.6 – 1,087.6 3% 3%
    Subscription and Support revenue 4,488.1   4,488.1 4,272.4 – 4,272.4 5% 5%
    Recurring portion of Software revenue 80%   80% 80%   80%    
    Services revenue 600.3 – 600.3 591.4 – 591.4 2% 2%
    Software Revenue breakdown by product line                
    Industrial Innovation 3,019.6 – 3,019.6 2,908.0 – 2,908.0 4% 4%
    Life Sciences 1,144.2 – 1,144.2 1,158.9 – 1,158.9 (1)% (1)%
    Mainstream Innovation 1,449.4 – 1,449.4 1,293.2 – 1,293.2 12% 12%
    Software Revenue breakdown by geography                
    Americas 2,214.7   2,214.7 2,141.9 – 2,141.9 3% 3%
    Europe 2,150.4 – 2,150.4 2,027.3 – 2,027.3 6% 6%
    Asia 1,248.1 – 1,248.1 1,190.8 – 1,190.8 5% 5%
    Total Operating Expenses € (4,854.0) € 624.2 € (4,229.8) € (4,709.5) € 683.7 € (4,025.8) 3% 5%
    Share-based compensation expense and related social charges (245.6) 245.6 – (245.8) 245.8 –    
    Amortization of acquired intangible assets and of tangible assets revaluation (361.6) 361.6 – (378.9) 378.9 –    
    Lease incentives of acquired companies (1.9) 1.9 – (2.8) 2.8 –    
    Other operating income and expense, net (15.0) 15.0 – (56.2) 56.2 –    
    Operating Income € 1,359.6 € 624.2 € 1,983.7 € 1,241.9 € 683.7 € 1,925.6 9% 3%
    Operating Margin 21.9%   31.9% 20.9%   32.4%    
    Financial income (loss), net 118.4 3.2 121.6 59.0 29.3 88.2 101% 38%
    Income tax expense (279.9) (117.0) (396.8) (250.7) (164.1) (414.8) 12% (4)%
    Non-controlling interest 2.1 (5.5) (3.4) 0.7 (1.9) (1.2) 190% 187%
    Net Income attributable to shareholders € 1,200.2 € 504.9 € 1,705.1 € 1,050.9 € 546.9 € 1,597.9 14% 7%
    Diluted Earnings Per Share (3) € 0.90 € 0.38 € 1.28 € 0.79 € 0.41 € 1.20 14% 7%

    (1) In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the effect of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue); (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangible assets and of tangible assets revaluation, share-based compensation expense, including related social charges, lease incentives of acquired companies, as detailed below, and other operating income and expense, net including acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; (iii) adjustments to IFRS financial loss, net reflect the exclusion of certain one-time items included in financial loss, net, and; (iv) all adjustments to IFRS income data reflect the combined effect of these adjustments, plus with respect to net income and diluted earnings per share, certain one-time tax effects and the income tax effect of the non-IFRS adjustments.

    In millions of Euros, except percentages Twelve months ended December 31, Change
    2024

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2024

    Non-IFRS

    		 2023

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2023

    Non-IFRS

    		 IFRS Non-

    IFRS
    Cost of revenue (1,016.3) 16.2 0.5 (999.5) (971.0) 15.7 0.8 (954.4) 5% 5%
    Research and development expenses (1,286.2) 76.9 0.9 (1,208.4) (1,228.3) 94.4 1.3 (1,132.6) 5% 7%
    Marketing and sales expenses (1,704.3) 80.8 0.3 (1,623.3) (1,624.5) 73.6 0.5 (1,550.4) 5% 5%
    General and administrative expenses (470.5) 71.7 0.2 (398.7) (450.6) 62.2 0.2 (388.3) 4% 3%
    Total   € 245.6 € 1.9     € 245.8 € 2.8      

    (2) The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure.
    (3) Based on a weighted average 1,333.4 million diluted shares for YTD 2024 and 1,336.8 million diluted shares for YTD 2023.

    1 IFRS figures for 4Q24: total revenue at €1.75 billion, operating margin of 27.6% and diluted EPS at €0.30; IFRS figures for FY24: total revenue at €6.21 billion, operating margin of 21.9% and diluted EPS at €0.90.  

    Attachment

    The MIL Network –

  • MIL-OSI USA: February 3rd, 2025 Heinrich Speaks Out Against President Trump’s Tax on New Mexico Families

    US Senate News:

    Source: United States Senator for New Mexico Martin Heinrich

    Trump’s tariffs will increase prices, cost families as much as $1,200 per year

    WASHINGTON — U.S. Senator Martin Heinrich (D-N.M.) released the following statement on President Trump’s announced 25% tariffs on Mexico and Canada and 10% tariffs on China:

    “Donald Trump’s tariffs are a tax on New Mexico’s working families. Trump’s tariffs will raise costs, kill jobs, and weaken our economy, costing New Mexicans up to $1,200 per household. With Mexico as New Mexico’s largest trading partner, Trump’s trade war and tariffs tax will directly hurt New Mexico’s farmers, businesses, and consumers.

    “We need to be putting the interests of working people first, not last. And that starts by lowering costs, not raising them.”

    While the effective dates of the tariffs are shifting, their catastrophic impacts are indisputable.

    Background on How New Mexico’s Economy Relies on Trade with Mexico

    New Mexico’s solid economic growth after pandemic-era disruptions was spurred in large part by cross-border commerce. An unnecessary trade war with Mexico drummed up by President Trump threatens to drive up prices for groceries, gas, cars, and other consumer goods, erasing wage increases and straining New Mexicans’ wallets. 

    Benefits to New Mexico from Trade with Mexico

    • In 2023, $28 billion worth of goods came through the Santa Teresa Port of Entry (STPOE), which Heinrich has pushed to expand by introducing legislation, securing federal appropriations, and urging leaders in Congress and the Executive Branch to prioritize this project.
    • The STPOE supported over 7,000 jobs and contributed $2 billion to New Mexico’s economy in 2023.
    • Since 2020, an additional 2,000 jobs in New Mexico have been added by the increased economic activity around STPOE.
    • New Mexico exported $3.4 billion to Mexico in 2023.
    • In 2021, exports supported 15,000 jobs in New Mexico.
    • Mexico is New Mexico’s largest trade partner, amounting to 70% of the state’s total goods exported in 2023.

    MIL OSI USA News –

  • MIL-OSI China: Landmark trade corridor sees surge in transported goods

    Source: China State Council Information Office

    A train runs on the railway that constitutes part of the New International Land-Sea Trade Corridor on Aug. 2, 2024. [Photo/Xinhua]

    The New International Land-Sea Trade Corridor, a key logistics network connecting China’s western regions to global markets, has transported a record 104,000 twenty-foot equivalent units (TEUs) via intermodal rail-sea service in January, up 30.9 percent year on year, according to the China Railway Nanning Group.

    It was the fastest year to surpass the milestone volume of 100,000 TEUs since its opening in 2017 and 15 days earlier than 2024.

    “In January, phosphate rock powder, zinc concentrate, pyrophyllite, paper pulp and other goods were shipped in large quantities, and the demand for new year goods such as rapeseed oil and rice was also strong. About 24 trains were arriving and departing at the station every day,” said Wei Wenkang, head of the East Station of Qinzhou Port in south China’s Guangxi Zhuang Autonomous Region, a hub station on the corridor.

    With an operational hub based in southwest China’s Chongqing Municipality, this trade corridor connects global ports via railways, sea routes and highways through southern Chinese provincial regions such as Guangxi and Yunnan. The cargo service now covers 157 points in 73 domestic cities and expands its reach to 555 ports in 127 countries and regions.

    MIL OSI China News –

  • MIL-OSI USA: Crapo, Wyden Announce Senate Finance Subcommittee Assignments

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo

    Washington, D.C.–Senate Finance Committee Chairman Mike Crapo (R-Idaho) and Ranking Member Ron Wyden (D-Oregon) today announced subcommittee assignments, Joint Committee on Taxation membership and the designation of members to serve as Congressional Trade Advisors for the 119th Congress.

    Subcommittee on Social Security, Pensions and Family Policy

    Republicans

    Chuck Grassley, IA, Chairman

    Todd Young, IN

    Marsha Blackburn, TN

    Democrats

    Bernard Sanders, VT

    Catherine Cortez Masto, NV

    Subcommittee on International Trade, Customs and Global Competitiveness

    Republicans

    John Cornyn, TX, Chairman

    Chuck Grassley, IA

    John Thune, SD

    Tim Scott, SC

    Steve Daines, MT

    Todd Young, IN

    Thom Tillis, NC

    Roger Marshall, KS

    Democrats

    Raphael Warnock, GA

    Michael Bennet, CO

    Mark Warner, VA

    Sheldon Whitehouse, RI

    Catherine Cortez Masto, NV

    Elizabeth Warren, MA

    Tina Smith, MN

    Subcommittee on Energy, Natural Resources and Infrastructure

    Republicans

    James Lankford, OK, Chairman

    John Cornyn, TX

    Tim Scott, SC

    Steve Daines, MT

    John Barrasso, WY

    Roger Marshall, KS

    Democrats

    Maria Cantwell, WA

    Michael Bennet, CO

    Maggie Hassan, NH

    Ben Ray Luján, NM

    Peter Welch, VT

    Subcommittee on Health Care

    Republicans

    Todd Young, IN, Chairman

    John Thune, SD

    Tim Scott, SC

    Bill Cassidy, LA

    James Lankford, OK

    Steve Daines, MT

    John Barrasso, WY

    Ron Johnson, WI

    Thom Tillis, NC

    Marsha Blackburn, TN

    Roger Marshall, KS

    Democrats

    Maggie Hassan, NH

    Mark Warner, VA

    Sheldon Whitehouse, RI

    Catherine Cortez Masto, NV

    Elizabeth Warren, MA

    Bernard Sanders, VT

    Tina Smith, MN

    Ben Ray Luján, NM

    Raphael Warnock, GA

    Peter Welch, VT

    Subcommittee on Taxation and IRS Oversight

    Republicans

    John Barrasso, WY, Chairman

    Chuck Grassley, IA

    John Cornyn, TX

    John Thune, SD

    Bill Cassidy, LA

    James Lankford, OK

    Ron Johnson, WI

    Thom Tillis, NC

    Marsha Blackburn, TN

    Democrats

    Michael Bennet, CO

    Mark Warner, VA

    Sheldon Whitehouse, RI

    Maggie Hassan, NH

    Elizabeth Warren, MA

    Bernard Sanders, VT

    Ben Ray Luján, NM

    Raphael Warnock, GA

    Subcommittee on Fiscal Responsibility and Economic Growth

    Republicans

    Ron Johnson, WI, Chairman

    Bill Cassidy, LA

    Democrats

    Tina Smith, MN

    Designation of Members to Serve on the Joint Committee on Taxation

    Mike Crapo, ID

    Chuck Grassley, IA

    John Cornyn, TX

    Ron Wyden, OR

    Maria Cantwell, WA

    Designation of Members to Serve as Congressional Trade Advisors on Trade Policy and Negotiations

    Mike Crapo, ID

    Chuck Grassley, IA

    John Cornyn, TX

    Ron Wyden, OR

    Maria Cantwell, WA

    The chairman and ranking member are ex officio members of all subcommittees.

    The Rules of Procedure for the Senate Finance Committee are here.

    MIL OSI USA News –

  • MIL-Evening Report: Do big tech companies have a ‘duty of care’ for users? A new report says they do – but leaves out key details

    Source: The Conversation (Au and NZ) – By Lisa M. Given, Professor of Information Sciences & Director, Social Change Enabling Impact Platform, RMIT University

    PV Productions/Shutterstock

    Large social media companies should have to proactively remove harmful content from their platforms, undergo regular “risk assessments” and face hefty fines if they don’t comply, according to an independent review of online safety laws in Australia.

    The federal government will today release the final report of the review conducted by experienced public servant Delia Rickard, more than three months after receiving it.

    The review comes a few months after Meta announced it will stop using independent fact checkers to moderate content on Facebook, Instagram and Threads.

    Rickard’s review contains 67 recommendations in total. If implemented, they would go a long way to making Australians safer from abusive content, cyberbullying and other potential harms encountered online. They would also align Australia to international jurisdictions and address many of the same problems targeted by the social media ban for young people.

    However, the recommendations contain serious omissions. And with a federal election looming, the review is not likely to be acted upon until the next term of government.

    Addressing online harms at the source

    The review recommends imposing a “digital duty of care” on large social media companies.

    The federal government has already committed to doing this. However, legislation to implement a digital duty of care has been on hold since November, with discussions overshadowed by the government’s social media ban for under 16s.

    The digital duty of care would put the onus on tech companies to proactively address a range of specific harms on their platforms, such as child sexual exploitation and attacks based on gender, race or religion.

    It would also provide several protections for Australians, including “easily accessible, simple and user-friendly” pathways to complain about harmful content. And it would position Australia alongside the United Kingdom and the European Union, which already have similar laws in place.

    Online service providers would face civil penalties of 5% of global annual turnover or A$50 million (whichever is greater) for non-compliance with the duty of care.

    Two new classes of harm – and expanded powers for the regulator

    The recommendations also call for a decoupling of the Online Safety Act from the National Classification Scheme. That latter scheme legislates the classification of publications, films and computer games, providing ratings to guide consumers to make informed choices for selecting age-appropriate content.

    This shift would create two new classes of harm: content that is “illegal and seriously harmful” and “legal but may be harmful”. This includes material dealing with “harmful practices” such as eating disorders and self-harm.

    The review’s recommendations also include provisions for technology companies to undergo annual “risk assessments” and publish an annual “transparency report”.

    The review also recommends adults experiencing cyber abuse, and children who are cyberbullied online, should wait only 24 hours following a complaint before the eSafety Commission orders a social media platform to remove the content in question. This is down from 48 hours.

    It also recommends lowering the threshold for identifying “menacing, harassing, or seriously offensive” material to that which “an ordinary reasonable person” would conclude is likely to have an effect.

    The review also calls for a new governance model for the eSafety Commission. This new model would empower the eSafety Commissioner to create and enforce “mandatory rules” (or codes) for duty of care compliance, including addressing online harms.

    The need to tackle misinformation and disinformation

    The recommendations are a step towards making the online world safer for everybody. Importantly, they would achieve this without the problems associated with the government’s social media ban for young people – including that it could violate children’s human rights.

    Missing from the recommendations, however, is any mention of potential harms from online misinformation and disinformation.

    Given the speed of online information sharing, and the potential for artificial intelligence (AI) tools to enable online harms, such as deepfake pornography, this is a crucial omission.

    From vaccine safety to election campaigns, experts have raised ongoing concerns about the need to combat misinformation.

    A 2024 report by the International Panel on the Information Environment found experts, globally, are most worried about “threats to the information environment posed by the owners of social media platforms”.

    In January 2025, the Canadian Medical Association released a report showing people are increasingly seeking advice from “problematic sources”. At the same time technology companies are “blocking trusted news” and “profiting” from “pushing misinformation” on their platforms.

    In Australia, the government’s proposed misinformation bill was scrapped in November last year due to concerns over potential censorship. But this has left people vulnerable to false information shared online in the lead-up to the federal election this year. As the Australian Institute of International Affairs said last month:

    misinformation has increasingly permeated the public discourse and digital media in Australia.

    An ongoing need for education and support

    The recommendations also fail to provide guidance on further educational supports for navigating online spaces safely in the review.

    The eSafety Commission currently provides many tools and resources for young people, parents, educators, and other Australians to support online safety. But it’s unclear if the change to a governance model for the commission to enact duty of care provisions would change this educational and support role.

    The recommendations do highlight the need for “simple messaging” for people experiencing harm online to make complaints. But there is an ongoing need for educational strategies for people of all ages to prevent harm from occurring.

    The Albanese government says it will respond to the review in due course. With a federal election only months away, it seems unlikely the recommendations will be acted on this term.

    Whichever government is elected, it should prioritise guidance on educational supports and misinformation, along with adopting the review’s recommendations. Together, this would go a long way to keeping everyone safe online.

    Lisa M. Given receives funding from the Australian Research Council. She is a Fellow of the Academy of the Social Sciences in Australia and the Association for Information Science and Technology, and an Affiliate of the International Panel on the Information Environment.

    – ref. Do big tech companies have a ‘duty of care’ for users? A new report says they do – but leaves out key details – https://theconversation.com/do-big-tech-companies-have-a-duty-of-care-for-users-a-new-report-says-they-do-but-leaves-out-key-details-248995

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Senator Markey Introduces Amendment to Keep DOGE Team from Accessing Critical Treasury Payment Systems

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey

    Washington (February 3, 2025) – Senator Edward J. Markey, a member of the Commerce, Science, and Transportation Committee, today filed an amendment to the Transparency in Charges for Key Events Ticketing (TICKET) Act, which the Senate Commerce, Science, and Transportation Committee is marking up on Wednesday, February 5. The amendment would make it a violation of the Federal Trade Commission (FTC) Act for an individual to gain unauthorized access to the central payment systems at the Treasury Department. Last week, Elon Musk’s personnel from the Department of Government Efficiency (DOGE) gained access to the Treasury Department’s central payment system, which disburses trillions of dollars in congressionally approved funds each year, including Social Security and Medicare benefits.

    “By demanding access to critical payment systems at the Treasury Department, Elon Musk and his team of government arsonists are threatening everything from payments for our troops to Medicare and Social Security payments,” said Senator Edward J. Markey. “This access creates serious privacy and cybersecurity risks and could even enable Musk to give his companies an unfair competitive advantage. It’s outrageous and dangerous. I hope my colleagues can come together and support this commonsense amendment to limit this access and safeguard our essential financial infrastructure.”

    MIL OSI USA News –

  • MIL-Evening Report: Australia won’t escape the fallout of the Trump trade chaos

    Source: The Conversation (Au and NZ) – By Scott French, Senior Lecturer in Economics, UNSW Sydney

    In a hectic 24 hours of trade diplomacy, US President Donald Trump has paused his threatened 25% tariffs on US imports from Canada and Mexico, while keeping 10% tariffs on imports from China.

    Australian companies with operations in Canada or Mexico such as Rio Tinto, whose Canadian operations export billions of dollars of aluminium to the US, have won a temporary reprieve. But the risk of weaker economic growth in China will weigh heavily on companies that export to our largest trading partner.

    And Trump has hinted all US imports of aluminium and copper, including from Australia, may be his next target.

    The Treasurer Jim Chalmers said on Tuesday that although Australia is not immune when there are escalating trade tensions, “we are pretty well-placed to navigate them.”

    However, even if Australia manages to stay out of Trump’s sights, Australians cannot expect to come out of a trade war unscathed. Due to the complexity of global supply chains, it is difficult to predict exactly how Australia would be affected, but here are a few key factors that would likely come into play.

    Our largest trading partner

    About 40% of Australia’s exports go to China, making it the biggest destination by far, according to data for 2023 from UN Comtrade. Most of this is Australian iron ore and other minerals that are used in China’s construction and manufacturing sectors.

    If Trump’s tariffs further slow the
    already sluggish Chinese economy, this will reduce demand for the goods it buys from Australia.

    If China’s demand for iron ore falls significantly, this will not only hurt the Australian mining sector, but it could trigger a fall in the Australian dollar, making the things Australians buy from abroad more expensive.

    But the size of the impact of the latest tariffs on China remains to be seen. China has already absorbed the tariffs from the first Trump administration, and the latest increase is much smaller than the 60% tariff he previously proposed.

    Trade diversion

    The one positive effect for Australia of US tariffs on other countries is that, because they raise the price of other countries’ exports to the US, they may make some Australian exports more competitive. This is something economists call trade diversion. For example, the tariffs on Canadian aluminium would have shifted US demand toward aluminium produced in Australia.

    The tariffs on China will divert relatively little trade to Australia because there is not much overlap between the products China and Australia export to the US.

    But China’s retaliatory tariffs could make a significant impact. China responded to the US tariffs imposed during Trump’s first term with tariffs on American wheat and other agricultural products. A similar move this time could create an opening for Australian farmers to fill the gap.

    But it is not all good news. The US exports diverted away from the Chinese market will also compete with Australian products in other countries. So, while Australian wheat may become more competitive in China, US wheat may displace Australia’s in the Philippines.

    A weaker Aussie dollar?

    Tariffs also tend to cause the currency of the country imposing them to rise because they reduce demand for goods denominated in foreign currencies.

    The flip side is a weaker Australian dollar, which dropped to a five-year low after the tariffs were flagged. The currency has now fallen nearly 10% since November.

    Again, this raises the cost of imports to Australia, which could lift inflation.

    Network disruption

    If the tariffs on Canada and Mexico are confirmed in 30 days’ time, the greatest impact will be in the supply chain disruption they will cause.

    Analyses of the tariffs Trump imposed on China in 2018 found most of the cost was borne by US businesses that use imported inputs. But because North American production networks are so highly integrated, and have been for decades, the effect of tariffs on Canada and Mexico will be much more disruptive to all North American producers.

    As economic networks expert Ben Golub explains, the concern is not just that auto prices will rise, but that if key parts of the production network fail, such as if small but important intermediate suppliers go out of business, the effects of the tariffs could cascade into major disruptions.

    Eventually, businesses will develop alternative supply chains, but the short-run pain could be considerable.

    For Australians, this could mean higher prices and supply disruptions, not just for the products we buy from the US, but for anything that depends on a North American supplier at any stage in the production process.

    We are still feeling the effects of the supply chain disruptions caused by COVID, including the jump in inflation in 2021 and 2022 and the subsequent high interest rates and global backlash against incumbent political parties. That includes Donald Trump’s return to the Oval Office.

    Similar disruptions may be in store if this skirmish becomes a major global trade war. Even if Trump’s promised tariffs never actually materialise, we may still see the same effects on a smaller scale because the trade policy uncertainty from just the threat of a trade war has similar effects on business activity as actual tariffs.

    Whatever transpires, even if Australia can escape direct involvement in a trade war, it cannot escape the shockwaves that reverberate through the global economy. The question is whether it will be a ripple or a tsunami.

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

    – ref. Australia won’t escape the fallout of the Trump trade chaos – https://theconversation.com/australia-wont-escape-the-fallout-of-the-trump-trade-chaos-248883

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA News: Progress on the Situation at Our Northern Border

    Source: The White House

         By the authority vested in me as President by the Constitution and the laws of the United States of America, including the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) (IEEPA), the National Emergencies Act (50 U.S.C. 1601 et seq.), section 604 of the Trade Act of 1974, as amended (19 U.S.C. 2483), and section 301 of title 3, United States Code, it is hereby ordered:

         Section 1.  Background. On February 1, 2025, I determined that the failure of Canada to arrest, seize, detain, or otherwise intercept drug trafficking organizations, other drug and human traffickers, criminals at large, and illicit drugs constitutes an unusual and extraordinary threat, which has its source in substantial part outside the United States, to the national security, foreign policy, and economy of the United States.  To address that threat, I invoked my authority under section 1702(a)(1)(B) of IEEPA to impose ad valorem tariffs on articles that are products of Canada.

         Sec. 2.  Immediate Steps.  Pursuant to section 3 of my Executive Order of February 1, 2025, titled “Imposing Duties to Address the Situation at Our Northern Border” (“the Executive Order of February 1, 2025”), I have determined that the Government of Canada has taken immediate steps designed to alleviate the illegal migration and illicit drug crisis through cooperative actions.  Further time is needed, however, to assess whether these steps constitute sufficient action to alleviate the crisis and resolve the unusual and extraordinary threat beyond our northern border.

         Sec. 3.  Pause.  (a)  In recognition of the steps taken by the Government of Canada, and in order to assess whether the threat described in section 1 of this order has abated, the additional 25 percent ad valorem rates of duty, and 10 percent ad valorem rates of duty as to energy products, shall be paused and will not take effect until March 4, 2025, at 12:01 a.m. eastern time.  Accordingly, section 2(a), section 2(b), section 2(e), and section 2(f) of the Executive Order of February 1, 2025, are amended by striking the term “February 4, 2025,” where it appears in those sections and inserting in lieu thereof the term “March 4, 2025.”  The exceptions set forth in section 2(a) and section 2(b) of the Executive Order of February 1, 2025, related to covered goods loaded onto a vessel at a port of entry or in transit on the final mode of transport prior to entry into the United States are, hereby, withdrawn.
    (b)  During this pause, the Secretary of Homeland Security, in consultation with the Secretary of State, the Attorney General, the Assistant to the President for National Security Affairs, and the Assistant to the President for Homeland Security shall continue to assess the situation at our northern border, as provided in section 3 of the Executive Order of February 1, 2025.
    (c)  If the illegal migration and illicit drug crises worsen, and if the Government of Canada fails to take sufficient steps to alleviate these crises, the President shall take necessary steps to address the situation, including by immediate implementation of the tariffs described in the Executive Order of February 1, 2025.

         Sec. 4.  Severability.  If any provision of this order, or the application of any provision to any person or circumstance, is held to be invalid, the remainder of this order and the application of its provisions to any other persons or circumstances shall not be affected thereby.

         Sec. 5.  General Provisions.  (a)  Nothing in this order shall be construed to impair or otherwise affect:
    (i)   the authority granted by law to an executive department or agency, or the head thereof; or
    (ii)  the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.
    (b)  This order shall be implemented consistent with applicable law and subject to the availability of appropriations.
    (c)  This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.

    THE WHITE HOUSE,
        February 3, 2025.

    MIL OSI USA News –

  • MIL-OSI Australia: National Children’s Commissioner welcomes national review of healthcare for trans and gender diverse children

    Source: Australian Human Rights Commission

    The National Children’s Commissioner Anne Hollonds has welcomed the Federal Health Minister’s announcement of a national review of healthcare for trans and gender diverse children. 

    Announced by Health Minister Mark Butler on Friday, the review will be led by the National Health and Medical Research Council and will examine aspects of children’s gender-affirming care, including the use of puberty blockers.

    Commissioner Anne Hollonds said: ‘In order to safeguard the best interests of children, it’s important that the healthcare we provide for children is based on the highest possible standards, and that these standards are regularly and rigorously evaluated.

    ‘This national review will provide national guidelines to ensure consistency in evidence-based healthcare and hopefully will lead to longitudinal research.

    “It’s also important that young people across our country have equitable access to healthcare. Currently it’s a postcode lottery and there are too many communities where children and their families cannot access comprehensive medical services, including mental health care and specialist clinical services for trans and gender diverse children.

    “I welcome this review and the opportunity it provides to ensure a consistent approach across all states and territories for the delivery of healthcare services for young people who are trans and gender diverse.  

    “Importantly, this national review will also help to put the focus on the needs of children, not the politics, and make the wellbeing of Australia’s children a national priority.

    ENDS | Media contact: media@humanrights.gov.au or +61 457 281 897 

    MIL OSI News –

  • MIL-OSI USA News: Progress on the Situation At Our Southern Border

    Source: The White House

    By the authority vested in me as President by the Constitution and the laws of the United States of America, including the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) (IEEPA), the National Emergencies Act (50 U.S.C. 1601 et seq.), section 604 of the Trade Act of 1974, as amended (19 U.S.C. 2483), and section 301 of title 3, United States Code, it is hereby ordered:

    Section 1.  Background.  On February 1, 2025, I determined that the failure of Mexico to arrest, seize, detain, or otherwise intercept Mexican drug trafficking organizations, other drug and human traffickers, criminals at large, and illicit drugs constitutes an unusual and extraordinary threat, which has its source in substantial part outside the United States, to the national security, foreign policy, and economy of the United States.  To address that threat, I invoked my authority under section 1702(a)(1)(B) of IEEPA to impose ad valorem tariffs on articles that are products of Mexico.

         Sec. 2.  Immediate Steps.  Pursuant to section 3 of my Executive Order of February 1, 2025, titled “Imposing Duties to Address the Situation at Our Southern Border” (“the Executive Order of February 1, 2025”), I have determined that the Government of Mexico has taken immediate steps designed to alleviate the illegal migration and illicit drug crisis through cooperative actions.  Further time is needed, however, to assess whether these steps constitute sufficient action to alleviate the crisis and resolve the unusual and extraordinary threat beyond our southern border.

         Sec. 3.  Pause.  (a)  In recognition of the steps taken by the Government of Mexico, and in order to assess whether the threat described in section 1 of this order has abated, the additional 25 percent ad valorem rate of duty shall be paused and will not take effect until March 4, 2025, at 12:01 am eastern time. Accordingly, sections 2(a), sections 2(d), and section 2(e) of the Executive Order of February 1, 2025, are amended by striking the term “February 4, 2025,” where it appears in those sections and inserting in lieu thereof the term “March, 4, 2025.”  The exceptions set forth in section 2(a) of the Executive Order of February 1, 2025, related to covered goods loaded onto a vessel at a port of entry or in transit on the final mode of transport prior to entry into the United States are, hereby, withdrawn.

         (b)  During this pause, the Secretary of Homeland Security, in consultation with the Secretary of State, the Attorney General, the Assistant to the President for National Security Affairs, and the Assistant to the President for Homeland Security, shall continue to assess the situation at our southern border, as provided in section 3 of the Executive Order of February 1, 2025.

         (c)  If the illegal migration and illicit drug crises worsen, and if the Government of Mexico fails to take sufficient steps to alleviate these crises, the President shall take necessary steps to address the situation, including by immediate implementation of the tariffs described in the Executive Order of February 1, 2025. 

         Sec. 4.  Severability.  If any provision of this order, or the application of any provision to any person or circumstance, is held to be invalid, the remainder of this order and the application of its provisions to any other persons or circumstances shall not be affected thereby.

         Sec. 5.  General Provisions.  (a)  Nothing in this order shall be construed to impair or otherwise affect:
         (i)   the authority granted by law to an executive department or agency, or the head thereof; or
         (ii)  the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.
    (b)  This order shall be implemented consistent with applicable law and subject to the availability of appropriations.
    (c)  This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
     
     
     
     
     
     
     
     
     
     
     
     
    THE WHITE HOUSE,
        February 3, 2025.

    MIL OSI USA News –

  • MIL-OSI Global: U.S. tariff threat: How it will impact different products and industries

    Source: The Conversation – Canada – By Sylvanus Kwaku Afesorgbor, Associate Professor of Agri-Food Trade and Policy, University of Guelph

    U.S. President Donald Trump has agreed to pause his planned tariffs on Canada and Mexico for at least 30 days following talks with the leaders of both countries. Previously, a senior Canadian governmental official had said Trump’s 25 per cent tariff on most Canadian goods was expected to come into effect on Feb. 4.

    If implemented, this tariff will have significant economic consequences on both sides of the border, as the U.S. and Canada share one of the largest bilateral trade relationships in the world.

    A key concern is the highly integrated supply chains between the two countries. Many goods cross the border multiple times as intermediate inputs before becoming final products. Imposing tariffs at any point in this supply chain will raise production costs and increase prices for a wide range of goods traded between the U.S. and Canada.

    For Canada, the tariffs on Canadian products will significantly affect Canada’s competitiveness in the U.S. market by driving up prices. Such tariffs could pose serious challenges for various sectors in Canada, given the country’s heavy reliance on the U.S. economy.

    Effects on different sectors

    The impact of U.S. tariffs on Canadian prices is likely to differ across sectors and products, depending on their reliance on the U.S. market.

    Sectors with a higher dependence on U.S. trade are likely to experience more severe disruptions. If the tariffs make certain products uncompetitive, Canadian producers may struggle to secure alternative markets in the short term.

    Industries such as agriculture, manufacturing and energy will experience varying degrees of impact. Energy products and motor vehicles, which represent Canada’s largest exports to the U.S., are expected to be among the most adversely affected.

    In the agricultural and forestry sector, wood and paper products, along with cereals, are among Canada’s largest exports to the U.S., with the U.S. accounting for 86 to 96 per cent of these exports, according to data from the World Integrated Trade Solution.

    In the energy and mineral sector, crude oil is Canada’s top export, reaching US$143 billion in 2023, with 90 per cent destined for the U.S. Given its critical role as Canada’s largest export across all sectors, it is not surprising that Trump has noted crude oil would be subject to a lower tariff of 10 per cent.

    Canada’s dependence on U.S. trade

    When examining the impact on different products, it’s not only the value of trade that matters, but also the share of trade. The share of trade indicates how reliant Canada is on the U.S. compared to other markets.

    A high trade share with the U.S. suggests a product is particularly vulnerable to trade disruptions, as Canada depends heavily on the U.S. market for that product. Conversely, a lower share indicates that Canada has diversified suppliers, which reduces its dependence on the U.S.



    Read more:
    Trump’s tariff threat could shake North American trade relations and upend agri-food trade

    For instance, in 2023, Canada’s top exports to the U.S. included vehicles and parts, nuclear machinery and plastics, according to data from the World Integrated Trade Solution. The U.S. accounted for 93 per cent of vehicle and parts exports, 82 per cent of nuclear machinery exports, and 91 per cent of plastics exports.

    This data highlights Canada’s extreme dependence on the U.S. market, making these industries within the manufacturing sector highly susceptible to the tariff. This could harm jobs in the manufacturing sector, which is vital to employment in Canada, providing jobs for over 1.8 million people.

    Canada’s reliance on the U.S. is also evident in imports. In 2023, vehicle imports totalled US$92 billion, with the U.S. accounting for 58 per cent of that amount.

    The dependence is also evident in the agri-food and forestry sector, where Canada heavily relies on U.S. imports. This suggests that retaliatory tariffs on agricultural goods from the U.S. could have a substantial impact on food prices in Canada.

    Retaliatory tariffs and inflationary pressures

    Canada has announced it’s imposing $155 billion of retaliatory tariffs on U.S. imports in response. This could contribute to inflationary pressures within Canada.

    Prime Minister Justin Trudeau says this includes immediate tariffs on $30 billion worth of goods as of Tuesday, followed by further tariffs on $125 billion worth of American products in 21 days’ time to “allow Canadian companies and supply chains to seek to find alternatives.”

    This will include tariffs on “everyday items such as American beer, wine and bourbon, fruits and fruit juices, including orange juice, along with vegetables, perfume, clothing and shoes,” and also on major consumer products like household appliances, furniture and sports equipment, and materials like lumber and plastics.

    Given Canada’s significant dependence on U.S. imports, the retaliatory tariffs will raise the cost of American goods entering the country, further driving up consumer prices and exacerbating inflation.

    In its latest policy rate announcement, the Bank of Canada warned of the severe economic consequences of Trump’s tariffs, highlighting their potential to reverse the current downward trend in inflation.

    What should Canada do now?

    Canada must extend its economic diplomacy efforts beyond the Trump administration, engaging with the U.S. Congress and Senate to advocate for the reconsideration of tariffs on Canadian goods. The Canadian government should persist in leveraging this channel to push for a reversal of the tariffs. This kind of broader negotiation remains the most effective approach to mitigating trade tensions and ensuring stable economic relations with the U.S.

    At the same time, Canada must reduce dependence on the U.S. market by adopting a comprehensive export diversification strategy. While the U.S. remains a convenient and accessible trade partner, expanding into emerging and developing markets would help mitigate risks and create more stable long-term trade opportunities.



    Read more:
    Trump’s tariff threat is a sign that Canada should be diversifying beyond the U.S.

    One effective way to achieve export diversification is by expanding free trade agreements (FTAs) with emerging and developing economies. Currently, Canada has 15 FTAs covering about 51 countries, but there is room for expansion. However, signing FTAs alone is insufficient; Canada must ensure these agreements translate into tangible trade growth with partner countries.

    International politics is increasingly shaping global trade, making it imperative for Canada to proactively manage diplomatic and trade relations. In recent years, tensions have emerged with key partners such as China, India and Saudi Arabia. These countries could all become potential markets for Canadian products. Given that China is Canada’s second-largest export destination, there is significant potential to expand trade ties.

    Additionally, countries like the United Arab Emirates present promising markets, particularly for agricultural products, as the UAE imports about 90 per cent of its food.

    Boosting innovation and productivity

    Canada stands at a critical juncture in its trade relationship with the U.S. While diplomatic efforts remain essential to averting harmful tariffs, they cannot be the country’s only line of defence.

    Boosting productivity is one of the most effective ways for Canada to improve its competitiveness in global markets. Canadian producers should prioritize innovation and the adoption of advanced technologies to enhance efficiency and maintain a competitive edge, particularly as they seek to expand beyond the U.S.

    In response to potential U.S. tariffs, the Canadian government should implement a bailout strategy to provide short-term relief and mitigate revenue losses to firms that will be mostly affected. Additionally, Canada should leverage its embassies and consulates worldwide to promote exports and help affected firms identify and access new market opportunities.

    By doing this, Canada can position itself as a more self-reliant and competitive player in the global economy — one less vulnerable to shifting U.S. policies.

    Sylvanus Kwaku Afesorgbor receives funding from the OMAFRA and the USDA. He is affiliated with the Centre for Trade Analysis and Development (CeTAD Africa).

    Naduni Uduwe Welage and Promesse Essolema do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. U.S. tariff threat: How it will impact different products and industries – https://theconversation.com/u-s-tariff-threat-how-it-will-impact-different-products-and-industries-248824

    MIL OSI – Global Reports –

  • MIL-OSI USA: Luján Introduces Bipartisan Bill to Protect Consumers in the Online Ticket Marketplace

    US Senate News:

    Source: US Senator for New Mexico Ben Ray Luján
    Washington, D.C. – U.S. Senators Ben Ray Luján (D-N.M.) and Marsha Blackburn (R-Tenn.), members of the U.S. Senate Committee on Commerce, Science, & Transportation, reintroduced the Mitigating Automated Internet Networks for (MAIN) Event Ticketing Act, legislation that would and better protect consumers in the online ticket marketplace. The MAIN Event Ticketing Act boosts enforcement of the Better Online Ticket Sales (BOTS) Act of 2016, a law that prohibits ticket scalpers from using software to purchase high volumes of tickets.
    “Far too many Americans face excessive price-gouging for tickets from online bots and resellers, and I am committed to ensure Americans can enjoy live entertainment without the fear of being scammed,” said Senator Luján. “I’m proud to join Senator Blackburn in reintroducing our MAIN Event Ticketing Act which will strengthen protections for consumers and artists from scammers. I look forward to working with my colleagues to get this legislation signed into law.”
    “As a cultural institution dedicated to making the performing arts accessible to all, the Santa Fe Opera applauds this bipartisan effort to better combat and enforce unfair ticketing practices and protect consumers and artists from exploitation,” said Santa Fe Opera General Director Robert K. Meya. “The MAIN Event Ticketing Act addresses critical challenges, ensuring that access to live performances remains fair and equitable to all audiences. We are grateful for Senator Luján and Senator Blackburn’s leadership on this important issue and fully support their efforts to enhance transparency and fairness in the online ticket marketplace.”
    “We are fully behind this legislation,” said Lensic 360 Director Jamie Lenfestey. “Enforcement of the existing law is a great approach. In high sales season we can see as many as 96,000 bot hits on our sales website daily. Any efforts in enhancing consumer protection and helping promoters and presenters best engage their audiences directly much needed step in the right direction.”
    “As a small venue owner, the health of my business relies heavily on food, beverage, and merchandise sales to complement ticket revenue. When bots and scalpers purchase tickets en masse, it not only drives up prices but also prevents true fans from attending events. This results in empty seats at my venue, leading to a significant loss—up to 75% of my projected revenue from concessions and merchandise sales,” said Jayson Wylie, President and CEO of Taos Mesa Brewing and Musich Entertainment.
    Specifically, the MAIN Event Ticketing Act would:
    Creating reporting requirements whereby online ticket sellers have to report successful bot attacks to the Federal Trade Commission (FTC);
    Creating a complaint database so consumers can also share their experiences with the FTC, which in turn is required to share the information with state attorneys general;
    Enacting data security requirements for online ticket sellers and requires the sharing of information between the FTC and law enforcement; and
    Requiring a report to Congress on BOTS enforcement.  
    This legislation is endorsed by the Recording Academy, Recording Industry Association of America, Live Nation Entertainment, and the National Independent Venue Association.
    Bill text is available here.

    MIL OSI USA News –

  • MIL-OSI: Ingersoll Rand Continues Momentum on Inorganic Growth in 2025

    Source: GlobeNewswire (MIL-OSI)

    • Acquisition extends company’s capabilities in wastewater treatment, a key high-growth, sustainable end market
    • Enables Ingersoll Rand to provide more comprehensive wastewater treatment solutions, allowing for greater energy efficiency and increased productivity for customers
    • Creates opportunities to accelerate topline growth through access to municipal markets
    • Attractive purchase multiple of approximately 10x 2024E Adjusted EBITDA

    DAVIDSON, N.C., Feb. 03, 2025 (GLOBE NEWSWIRE) — Ingersoll Rand Inc., (NYSE: IR) a global provider of mission-critical flow creation and life science and industrial solutions, has acquired SSI Aeration, Inc. and its subsidiaries (collectively “SSI”) to extend its capabilities in wastewater treatment.

    SSI is a global leader in the design and manufacturing of wastewater treatment plant equipment with approximately $30 million in annual revenue. Its product portfolio is focused on innovative and energy-efficient engineered membrane diffusers including fine bubble diffusers, coarse bubble diffusers, and aeration systems. The acquisition will enable Ingersoll Rand to combine several technologies like low pressure compressors with SSI’s aeration offerings to provide a comprehensive, end-to-end solution. With manufacturing facilities in the United States, South Korea, and India, SSI will join the Industrial Technologies and Services segment (IT&S).

    “Inorganic growth remains a key part of our company’s overall growth strategy in 2025,” said Vicente Reynal, chairman and chief executive officer of Ingersoll Rand. “We look at potential acquisitions through the lens of how they will help us optimize our solutions, and we look forward to growing our presence in the wastewater treatment market with the addition of SSI.”

    About Ingersoll Rand Inc.

    Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to Making Life Better for our employees, customers, shareholders, and planet. Customers lean on us for exceptional performance and durability in mission-critical flow creation and life science and industrial solutions. Supported by over 80+ respected brands, our products and services excel in the most complex and harsh conditions. Our employees develop customers for life through their daily commitment to expertise, productivity, and efficiency. For more information, visit www.IRCO.com.

    Forward-Looking Statements
    This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to Ingersoll Rand Inc.’s (the “Company” or “Ingersoll Rand”) expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “forecast,” “outlook,” “target,” “endeavor,” “seek,” “predict,” “intend,” “strategy,” “plan,” “may,” “could,” “should,” “will,” “would,” “will be,” “on track to” “will continue,” “will likely result,” “guidance” or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. All statements other than historical facts are forward-looking statements.

    These forward-looking statements are based on Ingersoll Rand’s current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from these current expectations. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) adverse impact on our operations and financial performance due to natural disaster, catastrophe, global pandemics (including COVID-19), geopolitical tensions, cyber events or other events outside of our control; (2) unexpected costs, charges or expenses resulting from completed and proposed business combinations; (3) uncertainty of the expected financial performance of the Company; (4) failure to realize the anticipated benefits of completed and proposed business combinations; (5) the ability of the Company to implement its business strategy; (6) difficulties and delays in achieving revenue and cost synergies; (7) inability of the Company to retain and hire key personnel; (8) evolving legal, regulatory and tax regimes; (9) changes in general economic and/or industry specific conditions; (10) actions by third parties, including government agencies; and (11) other risk factors detailed in Ingersoll Rand’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”), as such factors may be updated from time to time in its periodic filings with the SEC, which are available on the SEC’s website at http://www.sec.gov. The foregoing list of important factors is not exclusive.

    Any forward-looking statements speak only as of the date of this release. Ingersoll Rand undertakes no obligation to update any forward-looking statements, whether as a result of new information or development, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.

    Contacts:

    Investor Relations:
    Matthew.Fort@irco.com

    Media:
    Sara.Hassell@irco.com

    The MIL Network –

  • MIL-OSI United Nations: Press Conference by Security Council President on Programme of Work for February

    Source: United Nations General Assembly and Security Council

    The Security Council’s February programme of work will feature a signature event on practising multilateralism and reforming and improving global governance, its President for the month announced at a Headquarters press conference today.

    “As the world enters a very turbulent period, the open debate aims to encourage countries to revisit the original aspirations of the [United Nations],” said Fu Cong of China, which has assumed the rotating presidency of the 15-nation organ.  This high-level meeting, scheduled for 18 February, will be chaired by his country’s Foreign Minister, Wang Yi, he said, encouraging foreign ministers and senior officials of other countries to attend.

    The Middle East will remain a priority on the Council’s agenda this month, he said, noting briefings on the Palestinian issue, Syria and Yemen.  The Gaza situation remains fragile, and the Council needs to ensure full implementation of the ceasefire agreement and unhindered humanitarian access.  Also highlighting reports of the Israel Defense Forces’ military attacks on Sunday, 2 February, against residential blocks in Jenin, he said the Council is considering a possible meeting to address this.

    It will also pay close attention to the challenges facing United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), he added. On Syria, he said, the Council’s focus is on supporting that country in maintaining unity, restoring stability and starting a credible and inclusive political transition.

    Turning to Africa, he noted that the situation in eastern Democratic Republic of the Congo “is deteriorating rapidly which could further jeopardize peace and security of the region”.  The Council’s actions must be conducive to the cessation of hostilities and easing of tensions there.  The programme of work for February also includes briefings on UN missions in South Sudan, Libya and the Central African Republic, as well as the situation in Sudan, he said.  Pointing to the volatile security and humanitarian situations in many countries on the continent, he said, as President, “China will work with other Council members, the A3 [Council members representing African countries] in particular, to promote dialogue and consultation and seek political solutions on African issues.”

    The Council will also consider the Secretary-General’s semi-annual report on the threat posed by Islamic State in Iraq and the Levant (ISIL/Da’esh), he said, describing it as an opportunity to further coordinate counter-terrorism efforts.  It will also conduct its annual dialogue with the peacekeeping police, and will hold consultations on the Security Council Committee pursuant to resolution 1718 (2006), regarding sanctions relating to the Democratic People’s Republic of Korea.  China will “encourage Council members to consult with each other to enhance trust and bridge differences”, he said, noting that the presidency will invite civil society representatives to participate in relevant meetings and keep in close contact with the media.

    In the ensuing conversation with correspondents, Ambassador Fu elaborated on the open debate on multilateralism, noting the increasing calls in the international community, particularly among the Global South countries, for reforming the global governance system.  Rather than “dismantling the existing system or reinventing the wheel”, the aim is to build a more equitable system that addresses the global governance deficit, he said.  He also stressed the need to enhance the Council’s ability to respond to crises, adding that “solidarity and cooperation are being replaced by division and confrontation”, as a result of which, the Council has been unable to discharge its responsibilities.  The core of the diplomatic mission is to build bridges, he said, adding that the Council must return to the path of multilateralism.

    Mr. Fu took several questions concerning the new United States President Donald J. Trump’s “America First” policy, its impact on the United Nations, as well as the 10 per cent tariffs he recently imposed on Chinese goods.  His country considers the tariff increases unwarranted, he said, and will file a complaint to the World Trade Organization (WTO).  “There is no winner in a trade war,” he emphasised, and noting that the excuse for raising tariffs is fentanyl, he said China has stringent regulations on that and related substances.  The United States should look at its own problems, including the “demand side of fentanyl”, he advised.

    China and the United States have much in common, he said, adding that it is essential they cooperate on global issues such as climate change and terrorism.  Further, as the two biggest financial contributors “within this house”, he said both countries have similar concerns about improving the efficiency of the United Nations.  All these offer avenues of cooperation, he said.

    He also took a question on United States’ claims that China has influence over the Panama Canal and surrounding areas, and the subsequent statement by Panama’s President about leaving the Belt and Road initiative.  Such an action would be regrettable, he said, stressing that his country has not participated or interfered in the management or operation of the Canal.  The Panama Belt and Road initiative is an economic platform to enable Global South countries to cooperate with each other, he said, adding that the “smear campaign launched by the US and other Western countries on this initiative is totally groundless”.

    Regarding competition with the United States on artificial intelligence (AI) he noted that the Chinese AI tool DeepSeek has caused “some commotion or panic in certain quarters” and encouraged the correspondents to use it to write their news reports.  Technological restrictions do not work, he said, adding:  “Never ever underestimate the ingenuity of Chinese scientists and engineers.”  The world must ensure the benefits of artificial intelligence are available to all countries and there are guardrails to prevent it from being misused, he said, noting that his country put forward the Assembly resolution concerning cooperation on this matter.

    Responding to various questions concerning the conflict in the Democratic Republic of the Congo, he said a ceasefire is a priority — the 23 March Movement (M23) and Rwandan troops must withdraw from the territories they occupied.  Encouraging Rwanda and the Democratic Republic of the Congo to engage in peace talks, he noted that one Council member has floated the idea of a resolution on this topic, which his country will support in its national and presidential capacity.  The territorial integrity of the Democratic Republic of the Congo must be protected, he said, calling on parties to respond to mediation efforts.

    On meetings concerning Ukraine, he noted proposals from Member States to mark the upcoming 25 February anniversary of the beginning of the conflict in that country.  China is obliged to make proper arrangements according to rules of procedures, he said, adding that it is also crucial to highlight that conflict’s ramifications on the food and energy security, as well as maritime transportation. 

    For the full programme of work, please see:  www.un.org/securitycouncil/events/calendar.

    MIL OSI United Nations News –

  • MIL-OSI: XAI Octagon Floating Rate & Alternative Income Trust Declares its Monthly Common Shares Distribution of $0.077 per Share

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Feb. 03, 2025 (GLOBE NEWSWIRE) — XAI Octagon Floating Rate & Alternative Income Trust (the “Trust”) has declared its regular monthly distribution of $0.077 per share on the Trust’s common shares (NYSE: XFLT), payable on March 3, 2025, to common shareholders of record as of February 18, 2025, as noted below. The amount of the distribution represents no change from the previous month’s distribution amount of $0.077 per share.

    The following dates apply to the declaration:

    Ex-Dividend Date February 18, 2025
       
    Record Date February 18, 2025
       
    Payable Date March 3, 2025
       
    Amount $0.077 per common share
       
    Change from Previous Month No change
     

    Common share distributions may be paid from net investment income (regular interest and dividends), capital gains and/or a return of capital. The specific tax characteristics of the distributions will be reported to the Trust’s common shareholders on Form 1099 after the end of the 2025 calendar year. Shareholders should not assume that the source of a distribution from the Trust is net income or profit. For further information regarding the Trust’s distributions, please visit www.xainvestments.com.

    The Trust’s net investment income and capital gain can vary significantly over time; however, the Trust seeks to maintain more stable common share monthly distributions over time. The Trust’s investments in CLOs are subject to complex tax rules and the calculation of taxable income attributed to an investment in CLO subordinated notes can be dramatically different from the calculation of income for financial reporting purposes under accounting principles generally accepted in the United States (“U.S. GAAP”), and, as a result, there may be significant differences between the Trust’s GAAP income and its taxable income. The Trust’s final taxable income for the current fiscal year will not be known until the Trust’s tax returns are filed.

    As a registered investment company, the Trust is subject to a 4% excise tax that is imposed if the Trust does not distribute to common shareholders by the end of any calendar year at least the sum of (i) 98% of its ordinary income (not taking into account any capital gain or loss) for the calendar year and (ii) 98.2% of its capital gain in excess of its capital loss (adjusted for certain ordinary losses) for a one-year period generally ending on October 31 of the calendar year (unless an election is made to use the Trust’s fiscal year). In certain circumstances, the Trust may elect to retain income or capital gain to the extent that the Board of Trustees, in consultation with Trust management, determines it to be in the interest of shareholders to do so.

    The common share distributions paid by the Trust for any particular period may be more than the amount of net investment income from that period. As a result, all or a portion of a distribution may be a return of capital, which is in effect a partial return of the amount a common shareholder invested in the Trust, up to the amount of the common shareholder’s tax basis in their common shares, which would reduce such tax basis. Although a return of capital may not be taxable, it will generally increase the common shareholder’s potential gain, or reduce the common shareholder’s potential loss, on any subsequent sale or other disposition of common shares.

    The distribution shall be paid on the Payment Date unless the payment of such distribution is deferred by the Board of Trustees upon a determination that such deferral is required in order to comply with applicable law to ensure that the Trust remains solvent and able to pay its debts as they become due and continue as a going concern, or to comply with the applicable terms or financial covenants of the Trust’s senior securities.

    Future common share distributions will be made if and when declared by the Trust’s Board of Trustees, based on a consideration of number of factors, including the Trust’s continued compliance with terms and financial covenants of its senior securities, the Trust’s net investment income, financial performance and available cash. There can be no assurance that the amount or timing of common share distributions in the future will be equal or similar to that described herein or that the Board of Trustees will not decide to suspend or discontinue the payment of common share distributions in the future.

    The investment objective of the Trust is to seek attractive total return with an emphasis on income generation across multiple stages of the credit cycle. The Trust seeks to achieve its investment objective by investing in a dynamically managed portfolio of opportunities primarily within the private credit markets. Under normal market conditions, the Trust will invest at least 80% of its Managed Assets in floating rate credit instruments and other structured credit investments. There can be no assurance that the Trust will achieve its investment objective.

    The Trust’s common shares are traded on the New York Stock Exchange under the symbol “XFLT,” and the Trust’s 6.50% Series 2026 Term Preferred Shares are traded on the New York Stock Exchange under the symbol “XFLTPRA”.

    About XA Investments

    XA Investments LLC (“XAI”) serves as the Trust’s investment adviser. XAI is a Chicago-based firm founded by XMS Capital Partners in 2016. XAI serves as the investment adviser for two listed closed-end funds and an interval closed-end fund. The listed closed-end funds, the XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) and XAI Madison Equity Premium Income Fund (NYSE: MCN) both trade on the New York Stock Exchange. The interval closed-end fund, Octagon XAI CLO Income Fund (OCTIX), is newly launched and has been made widely available to investors.

    In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including development and market research, sales, marketing, and fund management.

    XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. XAI provides individual investors with access to institutional-caliber alternative managers. For more information, please visit www.xainvestments.com.

    About XMS Capital Partners
    XMS Capital Partners, LLC, established in 2006, is a global, independent, financial services firm providing M&A, corporate advisory and asset management services to clients. It has offices in Chicago, Boston and London. For more information, please visit www.xmscapital.com.

    About Octagon Credit Investors
    Octagon Credit Investors, LLC (“Octagon”) serves as the Trust’s investment sub-adviser. Octagon is a 25+ year old, $33.2B below-investment grade corporate credit investment adviser focused on leveraged loan, high yield bond and structured credit (CLO debt and equity) investments. Through fundamental credit analysis and active portfolio management, Octagon’s investment team identifies attractive relative value opportunities across below-investment grade asset classes, sectors and issuers. Octagon’s investment philosophy and methodology encourage and rely upon dynamic internal communication to manage portfolio risk. Over its history, the firm has applied a disciplined, repeatable and scalable approach in its effort to generate attractive risk-adjusted returns for its investors. For more information, please visit www.octagoncredit.com.

    XAI does not provide tax advice; please consult a professional tax advisor regarding your specific tax situation. Income may be subject to state and local taxes, as well as the federal alternative minimum tax.

    Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the Trust carefully before investing. For more information on the Trust, please visit the Trust’s webpage at www.xainvestments.com.

    This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

             
    NOT FDIC INSURED   NO BANK GUARANTEE   MAY LOSE VALUE
             

    Paralel Distributors, LLC – Distributor

    Media Contact:
    Kimberly Flynn, President
    XA Investments LLC
    Phone: 888-903-3358
    Email: KFlynn@XAInvestments.com
    www.xainvestments.com

    The MIL Network –