Even before we’re aware of heart trouble or related health issues, our bodies give off warning signs in the form of vibrations. Technology to detect these signals has ranged from electrodes and patches to watches. Now, an innovative wall-mounted technology is capable of monitoring vital signs. Advanced TeleSensors Inc. developed the Cardi/o Monitor with an exclusive license from NASA’s Jet Propulsion Laboratory in Southern California. Over the course of five years, NASA engineers created a small, inexpensive, contactless device to measure vital signs, a challenging task partly because monitoring heart rate requires picking out motions of about one three-thousandth of an inch, which are easily swamped by other movement in the environment. By the late 1990s, hardware and computing technology could meet the challenge, and the NASA JPL team created a prototype the size of a thick textbook. It would emit a radio beam toward a stationary person, working similarly to a radar, and algorithms differentiated cardiac and respiratory activity from the “noise” of other movements. When Sajol Ghoshal, now CEO of Austin, Texas-based Advanced TeleSensors, participated in a demonstration of the prototype, he saw the potential for in-home monitoring. By then, developing an affordable device was possible due to the miniaturization of sensors and computing technology.
The Cardi/o Monitor is 3 inches square and mounts to a ceiling or wall. It can detect vital signs from up to 10 feet. Multiple devices can be scattered throughout a house, with a smartphone app controlling settings and displaying all data on a single dashboard. The algorithms NASA developed detect heartbeat and respiration, and the company added heart rate variability detection that indicates stress and sleep apnea. If there’s an anomaly, such as a dramatic heart rate increase, an alert in the app calls attention to the situation. Up to six months of data is stored in a secure cloud, making it accessible to healthcare providers. This limits the need for regular in-person visits, which is particularly important for conditions such as infectious diseases, which can put medical professionals and other patients at risk. Through the commercialization of this life-preserving technology, NASA is at the heart of advancing health solutions.
DHHL AWARDS NEARLY 100 TURNKEY HOMES IN WAIKAPŪ, MAUI
Posted on Apr 7, 2025 in Featured, Latest Department News, Newsroom
STATE OF HAWAIʻI
KA MOKU ʻĀINA O HAWAIʻI
DEPARTMENT OF HAWAIIAN HOME LANDS
KA ʻOIHANA ʻĀINA HOʻOPULAPULA HAWAIʻI
JOSH GREEN, M.D. GOVERNOR
KE KIAʻĀINA
KALI WATSON
DIRECTOR
KA LUNA HOʻOKELE
KATIE L. LAMBERT
DEPUTY DIRECTOR
KA HOPE LUNA HOʻOKELE
DHHL AWARDS NEARLY 100 TURNKEY HOMES IN WAIKAPŪ, MAUI
Development of Phase II to Start in May 2025; Families to Move In Early 2026
Governor Josh Green, M.D., state and county leaders greet and congratulate Puʻuhona Phase II awardees.
FOR IMMEDIATE RELEASE
April 7, 2025
KAHULUI, MAUI – Within the Pilina Building at the University of Hawaiʻi Maui College, tables decked with vibrant purple orchid lei lay at the ready, while the melodic sounds of leo kiʻekiʻe and the distinct chatter of excitement signaled the start of a transformational day for which many have waited decades.
On Saturday, April 5, 2025, nearly 300 beneficiaries and their ʻohana eagerly awaited the Department of Hawaiian Home Lands’ (DHHL) Puʻuhona Phase II lot selection where 91 turnkey homes were awarded for Maui’s newest homestead community in Waikapū.
“The wait for a home should never be measured in decades and these 91 families have endured against all odds,” said Governor Josh Green, M.D. “We have a responsibility to them, and to every Native Hawaiian on the waitlist to move faster, build smarter and deliver on the promise of the Hawaiian Homes Commission Act.”
For almost four hours, applicants’ names were announced in the order they applied; starting with those from the late 1980s. As awardees took their places in line to select their lots, some considered the number of bedrooms they’d need for their growing families; others considered the lots’ locations.
Regardless of their selection, everyone was grateful for a piece of land to call home.
“This project is not just about building homes, it’s about rebuilding ancestral connections, creating opportunities, and empowering generations to thrive on the ʻāina,” said DHHL Director Kali Watson. “Prince Kūhiō’s vision was clear – to empower Native Hawaiians through land. Through the Hawaiian Homes Commission Act, he worked to return the lands to Native Hawaiians, fostering a sense of pride, identity, and belonging. We walk that same path today, guided by his vision.”
The awarding of homes marks progress in the development of the department’s first Act 279 project. Act 279 allocated a historic $600 million in general funds to the DHHL in 2022 to specifically tackle its long-standing waitlist.
In June of 2024, 52 homes were offered as part of Puʻuhona Phase I making it the first such award on the Valley Isle in 17 years. Phase I families are expected to move into their homes this summer.
Construction on Phase II is set to begin in May of this year. The first homes are scheduled for completion in February 2026.
Phase II offered 91 homes of two- to five bedrooms. Homes range in price from $411,422 to $699,000.
Puʻuhona: Maui’s Newest Homestead Community
Puʻuhona is the name of the first of four puʻu, or hills, that travel up to Hanaʻula, Waikapū’s highest peak. Named in likely reference to the native tree, hona was highly valued for the fibers found in its inner bark, which were used to craft rope and cordage for fishnets. The creation and intertwining of these materials represent the unity and growth of a community as individual strands come together to form a stronger bond.
“Every day we strive to build balanced, resilient communities, and Puʻuhona is no exception,” said Dowling Company president and developer, Everett Dowling. “The needs of our Native Hawaiian community are at the forefront in the development of each homestead community, and we will continue to build until everyone on the waitlist has a house of their own.”
The department acquired the roughly 47-acre parcel through a land transfer with the Dowling Company, Inc. in exchange for affordable housing credits from the county of Maui.
Puʻuhona will comprise 137 turnkey homes and 24 improved vacant lots: each lot averaging 7,500 square feet in size. Groundwork on the project began in May 2023.
More to Come on Maui
The DHHL has six homestead projects in development on the island of Maui.
This includes:
Honokōwai: 50 lots
Leialiʻi 1B: 181 lots
Wailuku single-family: 207 lots
Waiehu mauka: 404 lots
Kamalani: 400 lots
Kēōkea-Waiohuli: 404 lots
“To our ‘ohana: please don’t lose hope. The department has more than 1,600 units coming to the island of Maui and we look forward to the opportunity to award leases later this year,” Watson added. “With the backing of Governor Green, our department will explore innovative ways to get our people into the homes they rightfully deserve.”
To learn more about DHHL’s upcoming Maui projects, click here.
Click here to download visuals, soundbites.
B-ROLL (3:53)
SOUNDBITES
Tina Leikaha, Puʻuhona awardee, Kahului resident
(:08 seconds)
“I’m so excited, I was nervous, being patient, but when they called my name, I was like, oh my gosh, I just said chee hoo.”
(:12 seconds)
“At least my kids can come home now, we have them in the mainland, some of them live in Vegas, Washington, Oregon, so now they can come home, whenever they like, we have a home for them.”
“I feel relieved now being able to call a place home, not only for me but for my kids, knowing that I’ve been through a lot of obstacles in my life but now I see the end and there’s the bright light at the end of the tunnel.”
(:18 seconds)
“I really thought like aww man, I was giving up hope, and my sister was like, no, you’re going to get something, you’re going to get something, just hang in there, so I just had to keep the faith, and it all paid off.”
# # #
About the Department of Hawaiian Home Lands:
The Department of Hawaiian Home Lands carries out Prince Jonah Kūhiō Kalanianaʻole’s vision of rehabilitating native Hawaiians by returning them to the land. Established by U.S. Congress in 1921 with the passage of the Hawaiian Homes Commission Act, the Hawaiian homesteading program run by DHHL includes management of more than 200,000 acres of land statewide with the specific purpose of developing and delivering homesteading.
Sacramento, California – Acting Governor Eleni Kounalakis today issued a proclamation declaring April 6 to April 12, 2025 as California Library Week.
The text of the proclamation and a copy can be found below:
PROCLAMATION
During National Library Week, we celebrate the essential services, resources, and opportunities that libraries and library workers provide for all Californians. Free and open to all, each of our 1,127 public libraries is a community hub for education and lifelong learning, health and wellness, civic engagement, and workforce and economic development.
Libraries are gateways not just to learning but to new opportunities and ideas. Our state’s public libraries provide hundreds of thousands of programs each year and continually evolve and adapt to the needs of all Californians. They offer online tutoring, adult literacy programs, summer reading, test prep, resources for science, technology, engineering, the arts, and math (STEAM), early learning for infants and toddlers, meals for children, and services for job seekers.
Libraries are community centers and shelters, serving as heating and cooling centers, technology and communication providers, and safe places during emergencies. They provide free Wi-Fi and offer collaborative workspaces, career centers, quiet spaces for studying, and community gardens.
But the heart and soul of California’s libraries are the workers who help people of all ages and all backgrounds access the resources, programs, and services they need and serve as a key source for trusted information. Librarians help us start new chapters at every stage of our lives, from showing us the magic of reading as children to teaching us new skills in our golden years, with expanded digital access offering more opportunities than ever before.
School and library book challenges have been on the rise for some time, many targeting LGBTQ+ authors and writers of color. But now libraries themselves – and their critical programs and supports – are under attack, too. Now more than ever, we must celebrate and support the vital role that libraries, and all that they offer, play in keeping Californians informed and supported. These institutions house millions of books and materials that reflect the breadth of our rich diversity and defend the essential role of public libraries in protecting intellectual freedom.
In California, we know libraries hold more than books — they are the heart of our communities. During National Library Week, we honor our libraries and the dedicated library workers who offer endless possibilities to enrich the lives of Californians across the state.
NOW THEREFORE I, ELENI KOUNALAKIS, Acting Governor of the State of California, do hereby proclaim proclaim April 6 to April 12, 2025 as “California Library Week.”
IN WITNESS WHEREOF I have hereunto set my hand and caused the Great Seal of the State of California to be affixed this 3rd day of April 2025.
ELENI KOUNALAKIS
Acting Governor of California
ATTEST:
SHIRLEY N. WEBER, Ph.D.
Secretary of State
Recent news
Apr 7, 2025
News What you need to know: CAL FIRE is launching a new campaign supporting Californians to take steps now – including home hardening and defensible space – to prepare for peak fire season. SACRAMENTO – “Prepare your home and property! Start at the house and work your…
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What you need to know: CAL FIRE is launching a new campaign supporting Californians to take steps now – including home hardening and defensible space – to prepare for peak fire season.
SACRAMENTO – “Prepare your home and property! Start at the house and work your way out.” Millions of Californians will soon see that message as the state launches a new wildfire preparedness campaign to support preparation efforts for fire season.
As California heads into peak wildfire season, CAL FIRE is urging residents across the state to take proactive steps now to protect their homes and communities. Today’s campaign launch follows Governor Newsom’s action last month proclaiming a state of emergency to fast-track critical projects protecting communities from wildfire, ahead of peak fire season.
2025 has already seen an unprecedented start to the year with January’s Eaton and Palisades fires in Los Angeles. These fires rank as the second and third most destructive in California’s history, underpinning the importance of acting now to prepare one’s family, property, and community for wildfire.
The Los Angeles fires are a stark reminder of the year-round threat wildfire poses for our communities. As we head into peak fire season, we’re ramping up efforts to communicate with those in areas where preparedness measures like home hardening and defensible space can save lives. Now is the time to prepare your home and property.
Governor Gavin Newsom
This year’s campaign emphasizes two essential strategies in wildfire preparedness: home hardening and defensible space. Now through late May residents across the state will see digital and social media advertising, posters and materials at hardware and convenience stores, and messaging at gas pumps and other popular locations in Wildland Urban Interface communities. Outreach will be delivered in both English and Spanish to reach as many Californians as possible.
Creating a five foot buffer zone of defensible space, known as Zone 0, and taking steps to harden your home has been scientifically proven to be the most effective way to increase the likelihood of your home surviving a wildfire.
Governor Newsom has invested unprecedented resources into wildfire response and prevention, including nearly doubling CAL FIRE’s budget to $4 billion and investing 10x the amount than when the Governor took office for forest and land management. The state has also created the world’s largest aerial firefighting fleet, increased the use of prescribed burns, and implemented new technologies including AI and satellite technology to fight fires.
Key tips to prepare for wildfire
Home hardening:
Install or upgrade to fire-resistant materials on roofs, vents, siding, windows, and decks.
Clear debris from roofs, gutters, vents, and under decks.
Seal all cracks and openings larger than 1/8 inch to prevent embers from entering the home.
Defensible space:
Maintain a 5-foot ember-resistant zone immediately around the home—no flammable vegetation or materials.
Maintain 100 feet of defensible space, including trimming trees, cutting grasses, and removing dead vegetation.
Store combustible items (firewood, propane tanks, vehicles) at least 30 feet away from structures.
To make preparation easier, CAL FIRE offers the firePLANNER tool at ReadyForWildfire.org, where residents can:
Create a custom wildfire readiness plan.
Access checklists, safety tips, and alerts.
Stay informed with real-time wildfire and evacuation updates.
Now is the time to act. Start at the house and work your way out. Learn more at ReadyForWildfire.org.
Press Releases, Recent News
Recent news
Apr 7, 2025
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What you need to know: As National Library Week begins, California is suing the Trump administration after millions of dollars in grants to the state’s libraries were terminated abruptly when the federal administration illegally dismantled a federal agency.
Sacramento, California – As National Library Week begins, Governor Gavin Newsom and Attorney General Rob Bonta announced a lawsuit against the Trump administration after millions of dollars in grants to state libraries were terminated abruptly through the Trump administration’s efforts to illegally shutter the agency that administers them. This threatens federal funding to California libraries that support library staff and critical library programs, including literacy and language tutoring and summer reading and activity programs.
In California, we know libraries hold more than books. Libraries, and librarians, stand at the crossroads of opportunity and information, offering countless programs and supports for everyone in the community, from career help to free meals for children. An attack on libraries is an attack on communities – and California is fighting back.
Governor Gavin Newsom
“Our libraries are hubs for learning, civic engagement, and community. They provide important services to Californians, from kids summer reading and meal programs, to programs that help families, seniors, and veterans navigate an increasingly digital world,” said Attorney General Rob Bonta. “On Friday, we sued the Trump Administration for unlawfully attempting to shutter the Institute of Museum and Library Services—a federal agency that supports libraries across the nation. This National Library Week, we recognize the essential role that libraries play in our communities and to preserve our rich cultural heritage, and vow to continue the fight to ensure that all Californians can access the public services libraries provide our communities every day.”
Executive Order No. 14238 continues the Trump administration’s unlawful attack on several Congressionally-established agencies, including the Institute of Museum and Library Services (IMLS), which supports educational and cultural institutions and programs across the country. Through IMLS’s Grants to States Program, the California State Library received $15.7 million in federal funding to support statewide library programs and staffing – less than 40 cents per Californian. Over 21 percent of that funding has yet to be sent to California.
IMLS funds support numerous programs that serve all Californians – especially lower-income families, seniors, and veterans. These funds also help expand access to the Career Online High School program that enables adults to earn their high school diplomas through local libraries, and the Braille and Talking Book Library that ensures that visually impaired Californians have free access to books in accessible formats. If the Order stands, all functions and staff positions paid for with IMLS funding will be at risk.
Attorney General Bonta joined the lawsuit alongside the attorneys general of New York, Rhode Island, Hawaii, Arizona, Colorado, Connecticut, Delaware, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New Mexico, Oregon, Vermont, Washington, and Wisconsin.
This is California’s 12th lawsuit against the Trump administration. A copy of the lawsuit is available here.
More on California’s State Library
With IMLS funding, the State Library works with the 1,127 libraries across the state to provide high-quality literacy and summer programs, high-speed broadband, disaster preparedness, early learning, homework help, teen services, career resources, and collections. It supports transparency, providing free and open access to government information through the Federal and State Depository Library Programs. The State Library also maintains and expands the Braille and Talking Book Library, providing audio and braille books, magazines, and descriptive videos to blind and print disabled Californians.
Press Releases, Recent News
Recent news
Apr 5, 2025
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New Delhi, India, 7 April 2025: The Development Monitoring and Evaluation Office (DMEO) of the National Institution for Transforming India (NITI Aayog) and the Independent Evaluation Office (IEO) of the New Development Bank (NDB) have signed a statement of intent to enhance cooperation in the field of independent evaluation and capacity-building.
The statement of intent establishes a framework for strategic and technical collaboration between DMEO and IEO, supporting evidence-based policymaking and improving development effectiveness. The partnership will focus on knowledge exchange, evaluation capacity-building, and awareness initiatives to reinforce India’s evaluation landscape.
Key areas of cooperation between DMEO and IEO include:
Technical assistance: Sharing expertise and best practices in independent evaluation methodologies.
Capacity-building: Organising workshops and training programmes to strengthen technical capabilities at national and state levels.
Knowledge-sharing: Facilitating exchange of methodologies, tools and evaluation approaches.
Awareness and communications: Joint activities to promote M&E, including conferences, stakeholder meetings and learning events.
In her message on this occasion, Ms. Nidhi Chhibber, Director-General, DMEO, NITI Aayog, stated, “By bringing together the expertise of DMEO, NITI Aayog and IEO, NDB, the partnership will facilitate the sharing of technical knowledge, development of methodologies, and capacity building, leading to a more synergistic and strengthened monitoring & evaluation ecosystem”.
In his remarks, Mr. Ashwani K. Muthoo, Director General, IEO, NDB, noted, “With 26 projects worth USD 8.6 billion financed in India since 2016, NDB is deeply committed to supporting the country’s development journey. Independent evaluation ensures that these investments yield sustainable results. Through this collaboration with DMEO, we aim to not only enhance evaluation capacity but also contribute to India’s long-term development goals by strengthening accountability, evaluation-based knowledge-sharing and evidence-driven decision-making”.
NDB’s portfolio in India spans critical sectors such as transport infrastructure (with 55% of its projects focused on this sector), water and sanitation (16%), renewable energy (3%), and COVID-19 emergency assistance (23%). These projects are spread across 13 states and union territories, with four initiatives having a nationwide scope.
This partnership underscores NDB’s commitment to supporting India’s development agenda and reinforces its role in fostering sustainable and inclusive growth.
About the New Development Bank
NDB is a multilateral bank established in 2015 by Brazil, Russia, India, China and South Africa (BRICS) with the aim of mobilising resources for infrastructure and sustainable development projects in BRICS countries and emerging markets and developing countries (EMDCs). In alignment with its members’ development objectives and commitments under the Sustainable Development Goals (SDGs) and the Paris Agreement, NDB prioritises high-impact operations that are climate-smart, disaster-resilient, technology-integrated, and socially inclusive. NDB’s Independent Evaluation Office (IEO) is responsible for independently evaluating the Bank’s policies, strategies, processes, initiatives and operations. IEO also contributes and provides oversight to improve the effectiveness of the Bank’s quality assurance and self-evaluation activities.
About theDevelopment Monitoring and Evaluation Office (DMEO)
DMEO was established by the Government of India on 18th September 2015, as an attached office of the NITI Aayog by merging the erstwhile Program Evaluation Office and Independent Evaluation Office. To ensure that DMEO is able to function independently, it has been given separate budgetary allocations and manpower in addition to complete functional autonomy. The Programme Evaluation Organization (PEO) was established by the Government of India in October 1952 with a specific task of evaluating the community development programmes and other intensive area development schemes which were being funded by the Government of India. It worked as a division of the erstwhile Planning Commission and was headed by an Adviser (PEO) who reported to the Member, Planning Commission. PEO had 15 field units (7 Regional Evaluation Offices + 8 Project Evaluation Offices) located across the country. In an effort to accord more functional autonomy to the programme evaluation mechanism in the country, the Government of India established the Independent Evaluation Office (IEO) in November, 2010. The IEO was headed by a Director General, equivalent to a Union Minister of State in rank and status.
Highlights Results of Transformative Strategy and Path to Future Value Creation
Demonstrates Elliott’s Thesis is Based on Flawed Assumptions and Changes Would be Destructive to Long-Term Shareholder Value
Urges Shareholders to Vote “FOR” ONLY Phillips 66’s Nominees on the WHITE Proxy Card
HOUSTON–(BUSINESS WIRE)– Phillips 66 (NYSE:PSX) today announced that it has filed its definitive proxy materials with the U.S. Securities and Exchange Commission in connection with its upcoming Annual Meeting of Shareholders on May 21, 2025. Shareholders of record as of the close of business on April 4, 2025 are entitled to vote at the meeting.
In addition, the Board wrote a letter to shareholders that highlights valuable information to make an informed voting decision, including:
The consistent, compelling value Phillips 66 delivers for its shareholders;
The bold steps Phillips 66 has taken to drive shareholder value under Mark Lashier’s leadership;
Progress made across business areas and future actions that will drive continued outperformance;
Phillips 66’s track record of allocating capital effectively and prioritizing consistent shareholder returns across economic and industry cycles; and
How Elliott’s misguided proposals will disrupt Phillips 66’s momentum by pushing for irreversible change that will destroy shareholder value.
Phillips 66 also published a video on Phillips66Delivers.com, which reiterates Phillips 66’s differentiated platform, transformative strategy, approach to capital allocation and history of engagement with Elliott Investment Management (“Elliott”).
The full text of the Board’s letter to shareholders follows:
Dear Fellow Shareholders,
Thank you for your investment in Phillips 66 and your continued support.
The Board is committed to protecting your investment and focused on sustainable long-term value creation. For twelve years, we reliably grew our dividend and consistently returned capital to shareholders, delivering more than $43 billion1 in cumulative shareholder distributions.
Phillips 66’s Strategy Delivers Consistent and Compelling Long-Term Value
Our ability to continue to deliver long-term value for you is on the line – and your vote at our 2025 Annual Meeting is very important to us.
You face an important choice regarding your Phillips 66 investment:
On one side isa Board and management team implementing a clear transformative strategy that has delivered results. The strategy is in its early stages and has significant room to deliver further value.
On the other side isan activist hedge fund pushing an aggressive short-term agenda– including a rushed breakup of our Company based on flawed analysis – that would introduce unnecessary risk and disruption, slow our momentum and jeopardize your invested capital and long-term returns.
We do not dismiss Elliott’s ideas – in fact, we’ve welcomed their ideas throughout our entire engagement with them. We encourage healthy debate in the board room and that spirit extends to how we incorporate shareholder feedback. We care about finding the right path to drive the highest value for your investment.
Given our assessment of where Phillips 66 is in its strategy, current market conditions and specific costs and risks related to Elliott’s thesis, we believe pursuing their ideas puts your investment at risk.
Elliott continues to use its activist playbook to avoid collaboration, cloud the discussion and drive a false narrative to promote their short-term agenda. Meanwhile, Phillips 66’s Board and management team are taking bold steps to drive shareholder value.
Phillips 66 is in the Early Innings of a Deliberate Transformation
Under CEO Mark Lashier’s leadership since July 2022, Phillips 66 has made a series of bold decisions for shareholders, including:
Returning $13.6 billion to shareholders;1
Nearly doubling EBITDA contributions from our Midstream segment from 2021 levels;
Divesting a total of $3.5 billion in assets;
Announcing plans to cease operations at our Los Angeles refinery; and
Fulfilling our commitment to substantially reduce controllable costs.
These are significant actions where the benefits to shareholders are just starting to be realized. Since Mark became CEO, we have delivered strong total shareholder returns, significantly outperforming a weighted average of our proxy peers2 – 67%3 vs 42%3.
Phillips 66’s Strategy and Current Initiatives are Built for Consistent Returns While Providing Shareholders with Meaningful Upside
Elliott wants a quick win by breaking up the Company, based on inflated and unrealistic assumptions. As we continue to execute our strategy, we are confident we will continue to deliver outperformance for our shareholders.
The path to additional shareholder value is in the ongoing efforts across our business, including:
Phillips 66 has a track record of allocating capital efficiently and generating high returns on invested capital. Since 2015, we have delivered Return on Capital Employed (“ROCE”)4 of 11%, outperforming the weighted average of our proxy peers. We achieved this by being highly selective when deciding where to deploy our capital within the business. This proven and disciplined approach to capital allocation will help deliver value for our shareholders.
Since our formation in 2012, we have returned more than $43 billion to shareholders through dividends and share repurchases1. We have grown our dividend at a 15% Compound Annual Growth Rate (“CAGR”). The dividend we pay to our shareholders has grown every single year since we have been a publicly traded company.
So, What is at Risk with Elliott’s Proposals?
Elliott seeks rapid, irreversible change in pursuit of an unrealistic thesis – and risks halting the momentum on our long-term value-creating strategic plan.
Elliott’s thesis jeopardizes shareholders’ realization of value from our long-term strategy.
Their thesis is inherently based on short-term market fluctuations, aspirational valuations and unrealistic assumptions.
Elliott’s analysis of a potential spin of the midstream business understates one-time costsand ongoing dis-synergies.
Their analysis of a potential sale of the midstream business unrealistically asserts that cash buyers exist at a $50 billion price tag and would pay for 100% of synergies, both of which are highly unlikely. In addition, tax leakage costs could be as high as $10 billion.
Elliott’s analysis notably excludes external factors, such as the timing risk of valuations in commodity businesses, which can significantly impact transactions in our industry.
The Board is committed to thoroughly evaluating Phillips 66’s portfolio to maximize long-term shareholder value. We debate these topics rigorously and always carefully review all options, but we will not favor short-term decision making under the pressure of one shareholder at the expense of all others.
To Sum it All Up: Long-Term Value Creation is Phillips 66’s North Star
Phillips 66 is executing a disciplined strategy that continues to deliver tangible results and has significant room to drive further shareholder value. Our strong track record of financial performance, operational excellence and shareholder returns underscores our ability to successfully navigate industry cycles. We are well positioned to continue building on these successes to provide you with consistent and compelling long-term returns.
We urge you to support Phillips 66 at the 2025 Annual Meeting. Your investment is best served by having a Board focused on creating reliable value, both now and in the future.
We unanimously recommend you vote “FOR” ONLY Phillips 66’s nominees on the WHITE proxy card.
Thank you for your continued support.
Sincerely,
The Phillips 66 Board of Directors
_________________________________________
1
Shareholder distribution through dividends paid on common stock and repurchases of common stock.
2
Calculated as the weighted average of Refining (CVI, DINO, DK, MPC, PBF, VLO), Midstream (OKE, TRGP, WMB), and Chemicals (DOW, LYB, WLK) Performance Proxy Peers’ TSR based on the weighting of consensus NTM EBITDA estimates for PSX’s segments.
3
Total Shareholder Return (“TSR”) from June 30, 2022 to March 31, 2025
4
Non-GAAP financial measure. Reconciliations of these non-GAAP financial measures to the most comparable GAAP financial measure can be found here.
5
Excludes adjusted turnaround expenses. Non-GAAP financial measure. Reconciliations of these non-GAAP financial measures to the most comparable GAAP financial measure can be found here.
About Phillips 66
Phillips 66 (NYSE: PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company’s portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the federal securities laws relating to Phillips 66’s operations, strategy and performance. Words such as “anticipated,” “committed,” “estimated,” “expected,” “planned,” “scheduled,” “targeted,” “believe,” “continue,” “intend,” “will,” “would,” “objective,” “goal,” “project,” “efforts,” “strategies” and similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements included in this news release are based on management’s expectations, estimates and projections as of the date they are made. These statements are not guarantees of future events or performance, and you should not unduly rely on them as they involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include: changes in governmental policies or laws that relate to our operations, including regulations that seek to limit or restrict refining, marketing and midstream operations or regulate profits, pricing, or taxation of our products or feedstocks, or other regulations that restrict feedstock imports or product exports; our ability to timely obtain or maintain permits necessary for projects; fluctuations in NGL, crude oil, refined petroleum, renewable fuels and natural gas prices, and refining, marketing and petrochemical margins; the effects of any widespread public health crisis and its negative impact on commercial activity and demand for refined petroleum or renewable fuels products; changes to worldwide government policies relating to renewable fuels and greenhouse gas emissions that adversely affect programs including the renewable fuel standards program, low carbon fuel standards and tax credits for renewable fuels; potential liability from pending or future litigation; liability for remedial actions, including removal and reclamation obligations under existing or future environmental regulations; unexpected changes in costs for constructing, modifying or operating our facilities; our ability to successfully complete, or any material delay in the completion of, any asset disposition, acquisition, shutdown or conversion that we have announced or may pursue, including receipt of any necessary regulatory approvals or permits related thereto; unexpected difficulties in manufacturing, refining or transporting our products; the level and success of drilling and production volumes around our midstream assets; risks and uncertainties with respect to the actions of actual or potential competitive suppliers and transporters of refined petroleum products, renewable fuels or specialty products; lack of, or disruptions in, adequate and reliable transportation for our products; failure to complete construction of capital projects on time or within budget; our ability to comply with governmental regulations or make capital expenditures to maintain compliance with laws; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets, which may also impact our ability to repurchase shares and declare and pay dividends; potential disruption of our operations due to accidents, weather events, including as a result of climate change, acts of terrorism or cyberattacks; general domestic and international economic and political developments, including armed hostilities (such as the Russia-Ukraine war), expropriation of assets, and other diplomatic developments; international monetary conditions and exchange controls; changes in estimates or projections used to assess fair value of intangible assets, goodwill and property and equipment and/or strategic decisions with respect to our asset portfolio that cause impairment charges; investments required, or reduced demand for products, as a result of environmental rules and regulations; changes in tax, environmental and other laws and regulations (including alternative energy mandates); political and societal concerns about climate change that could result in changes to our business or increase expenditures, including litigation-related expenses; the operation, financing and distribution decisions of equity affiliates we do not control; and other economic, business, competitive and/or regulatory factors affecting Phillips 66’s businesses generally as set forth in our filings with the Securities and Exchange Commission. Phillips 66 is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Additional Information
On April 8, 2025, Phillips 66 filed a definitive proxy statement on Schedule 14A (the “Proxy Statement”) and accompanying WHITE proxy card with the U.S. Securities and Exchange Commission (the “SEC”) in connection with its 2025 Annual Meeting of Shareholders (the “2025 Annual Meeting”) and its solicitation of proxies for Phillips 66’s director nominees and for other matters to be voted on. This communication is not a substitute for the Proxy Statement or any other document that Phillips 66 has filed or may file with the SEC in connection with any solicitation by Phillips 66. PHILLIPS 66 SHAREHOLDERS ARE STRONGLY ENCOURAGED TO READ THE PROXY STATEMENT (AND ANY AMENDMENTS AND SUPPLEMENTS THERETO) AND ACCOMPANYING WHITE PROXY CARD AND ANY OTHER RELEVANT SOLICITATION MATERIALS FILED WITH THE SEC AS THEY CONTAIN IMPORTANT INFORMATION. Shareholders may obtain copies of the Proxy Statement, any amendments or supplements to the Proxy Statement and other documents (including the WHITE proxy card) filed by Phillips 66 with the SEC without charge from the SEC’s website at www.sec.gov. Copies of the documents filed by Phillips 66 with the SEC also may be obtained free of charge at Phillips 66’s investor relations website at https://investor.phillips66.com or upon written request sent to Phillips 66, 2331 CityWest Boulevard, Houston, TX 77042, Attention: Investor Relations.
Certain Information Regarding Participants
Phillips 66, its directors, its director nominees and certain of its executive officers and employees may be deemed to be participants in connection with the solicitation of proxies from Phillips 66 shareholders in connection with the matters to be considered at the 2025 Annual Meeting. Information regarding the names of such persons and their respective interests in Phillips 66, by securities holdings or otherwise, is available in the Proxy Statement, which was filed with the SEC on April 8, 2025, including in the sections captioned “Beneficial Ownership of Phillips 66 Securities” and “Appendix C: Supplemental Information Regarding Participants in the Solicitation.” To the extent that Phillips 66’s directors and executive officers who may be deemed to be participants in the solicitation have acquired or disposed of securities holdings since the applicable “as of” date disclosed in the Proxy Statement, such transactions have been or will be reflected on Statements of Changes in Ownership of Securities on Form 4 or Initial Statements of Beneficial Ownership of Securities on Form 3 filed with the SEC. These documents are or will be available free of charge at the SEC’s website at www.sec.gov.
Use of Non-GAAP Financial Information
Non-GAAP Measures — This letter includes non-GAAP financial measures, including, “adjusted EBITDA,” “refining adjusted controllable costs,” and “return on capital employed.” These are non-GAAP financial measures that are included to help facilitate comparisons of operating performance across periods and to help facilitate comparisons with other companies in our industry. Where applicable, these measures exclude items that do not reflect the core operating results of our businesses in the current period or other adjustments to reflect how management analyzes results. Click here to find reconciliations to, or further discussion of, the most comparable GAAP financial measures.
This letter also includes forward-looking non-GAAP financial measure estimates such as, but not limited to “adjusted EBITDA,” “controllable costs” and “refining adjusted controllable costs,” which, as used in certain places herein, are forward looking non-GAAP financial measures. These forward-looking estimates or targets depend on future levels of revenues and/or expenses, including amounts that could be attributable to non-controlling interests or related joint ventures, which are not reasonably estimable at this time. Accordingly, reconciliations of these forward-looking non-GAAP financial measures to the nearest GAAP financial measure cannot be provided without unreasonable effort. Below are definitions of these non-GAAP measures and identification of the most directly comparable GAAP measure.
EBITDA is defined as estimated net income plus estimated net interest expense, income taxes, and depreciation and amortization. Adjusted EBITDA is defined as estimated EBITDA plus the proportional share of selected equity affiliates’ estimated net interest expense, income taxes, and depreciation and amortization less the portion of estimated adjusted EBITDA attributable to noncontrolling interests. Net income is the most directly comparable GAAP financial measure for the consolidated company and income before income taxes is the most directly comparable GAAP financial measure for operating segments. Refining adjusted controllable cost is the sum of operating and SG&A expenses for our Refining segment, plus our proportional share of operating and SG&A expenses of two refining equity affiliates that are reflected in equity earnings of affiliates. The per barrel amounts are based on total processed inputs, including our proportional share of processed inputs of an equity affiliate, for the respective period.
References in this letter to shareholder distributions and returns to shareholders refer to the sum of dividends paid to Phillips 66 stockholders and proceeds used by Phillips 66 to repurchase shares of its common stock. References to run-rate cost savings or run-rate business transformation savings, include cost savings and references to run-rate synergies include cost savings and other benefits that will be captured in the sales and other operating revenues impacting gross margin; purchased crude oil and products costs impacting gross margin; operating expenses; selling, general and administrative expenses; and equity in earnings of affiliates lines on our consolidated statement of income when realized. References to run-rate sustaining capital savings include savings that will be captured in the capital expenditures and investments on our consolidated statement of cash flows when realized. References to run-rate savings represent the sum of run-rate cost savings and run-rate sustaining capital savings. References in this letter to “synergies” are supported by management’s estimates and assumptions. These estimates are derived from the Company’s internal projections and other relevant data. However, because these synergies are not calculated in accordance with generally accepted accounting principles (GAAP), they cannot be directly reconciled to GAAP measures. The Company believes that these non-GAAP measures provide valuable insight into optimization benefits, but cautions that such synergies may not be realized in full or at all.
Basis of Presentation – Effective April 1, 2024, we changed the internal financial information reviewed by our chief executive officer to evaluate performance and allocate resources to our operating segments. This included changes in the composition of our operating segments, as well as measurement changes for certain activities between our operating segments. The primary effects of this realignment included establishment of a Renewable Fuels operating segment, which includes renewable fuels activities and assets historically reported in our Refining, Marketing and Specialties (M&S), and Midstream segments; change in method of allocating results for certain Gulf Coast distillate export activities from our M&S segment to our Refining segment; reclassification of certain crude oil and international clean products trading activities between our M&S segment and our Refining segment; and change in reporting of our investment in NOVONIX from our Midstream segment to Corporate and Other. Accordingly, prior period results have been recast for comparability.
Global executions hit their highest figure since 2015, as over 1,500 people were executed across 15 countries in 2024, said Amnesty International today as it released its annual report on the global use of the death penalty.
According to the report, Death Sentences and Executions 2024, 1,518 executions were recorded in 2024 – the highest number since 2015 (at least 1,634) – with the majority in the Middle East. However, for the second year in a row, countries carrying out executions remained at the lowest point on record.
The known totals do not include the thousands of people believed to have been executed in China, which remains the world’s lead executioner, as well as North Korea and Viet Nam which are also believed to resort to the death penalty extensively. Ongoing crises in Palestine (State of) and Syria meant that Amnesty International could not confirm a figure.
The death penalty is an abhorrent practice with no place in today’s world.
Agnès Callamard, Amnesty International’s Secretary General
Iran, Iraq and Saudi Arabia were responsible for the overall rise in known executions. In total, the trio accounted for a staggering 1,380 recorded executions. Iraq almost quadrupled its executions (from at least 16 to at least 63) and Saudi Arabia doubled its yearly total (from 172 to at least 345), while Iran executed 119 more individuals than last year (from at least 853 to at least 972) – accounting for 64% of all known executions.
“The death penalty is an abhorrent practice with no place in today’s world. While secrecy continued to shroud scrutiny in some countries that we believe are responsible for thousands of executions, it’s evident that states that retain the death penalty are an isolated minority. With just 15 countries carrying out executions in 2024, the lowest number on record for the second consecutive year, this signals a move away from this cruel, inhuman and degrading punishment,” said Agnès Callamard, Amnesty International’s Secretary General.
“Iran, Iraq, and Saudi Arabia were responsible for the sharp spike in deaths last year, carrying out over 91% of known executions, violating human rights and callously taking people’s lives for drug-related and terrorism charges.”
The five countries with the highest number of recorded executions in 2024 were China, Iran, Saudi Arabia, Iraq and Yemen.
Authorities weaponizing death penalty
Throughout 2024, Amnesty International witnessed leaders weaponizing the death penalty under the false pretence that it would improve public safety or to instil fear among the population. In the USA, which has experienced a steady upward trend in executions since the end of the Covid-19 pandemic, 25 people were executed (against 24 in 2023). Newly electedPresident Trump repeatedly invoked the death penalty as a tool to protect people “from violent rapists, murderers, and monsters”. His dehumanizing remarks promoted a false narrative that the death penalty has a unique deterrent effect on crime.
In some countries in the Middle East region, death sentences were used to silence human rights defenders, dissidents, protesters, political opponents, and ethnic minorities.
Those who dare challenge authorities have faced the most cruel of punishments, particularly in Iran and Saudi Arabia, with the death penalty used to silence those brave enough to speak out.”
Agnès Callamard
“Those who dare challenge authorities have faced the most cruel of punishments, particularly in Iran and Saudi Arabia, with the death penalty used to silence those brave enough to speak out,” said Agnès Callamard.
“In 2024, Iran persisted in their use of the death penalty to punish individuals who had challenged the Islamic Republic establishment during the Woman Life Freedom uprising. Last year saw two of those people – including a youth with a mental disability – executed in connection with the uprising following unfair trials and torture-tainted ‘confessions’, proving how far the authorities are willing to go to tighten their grip on power.”
Saudi authorities continued to weaponize the death penalty to silence political dissent and punish nationals from the country’s Shi’a minority who supported “anti-government” protests between 2011 and 2013. In August, the authorities executed Abdulmajeed al-Nimr for terrorism-related offences related to joining Al-Qaeda, despite initial court documents referring to his participation in protests.
The Democratic Republic of Congo announced its intention to resume executions while Burkina Faso’s military authorities announced plans to reintroduce the death penalty for ordinary crimes.
Rise in executions for drug-related offences
Over 40% of 2024’s executions were carried out unlawfully for drug-related offences. Under international human rights law and standards, the use of the death penalty must be restricted for the ‘most serious crimes’ – sentencing people to death for drug-related offences does not meet this threshold.
“Drug-related executions were prevalent in China, Iran, Saudi Arabia, Singapore and, while no confirmation was possible, likely Viet Nam. In many contexts,sentencing people to death fordrug-related offences has been found to disproportionately impact those from disadvantaged backgrounds, while it has no proven effect in reducing drug trafficking,” said Agnès Callamard.
“Leaders who promote the death penalty for drug-related offences are proposing ineffective and unlawful solutions. States considering introducing capital punishment for drug-related offences, such as the Maldives, Nigeria and Tonga, must be called out and encouraged to put human rights at the centre of their drug policies.”
The power of campaigning
Despite a rise in executions, just 15 countries were known to have carried them out – the lowest number on record for the second consecutive year. As of today, 113 countries are fully abolitionist and 145 in total have abolished the death penalty in law or practice.
In 2024, Zimbabwe signed into law a bill that abolished the death penalty for ordinary crimes. For the first time, more than two thirds of all UN member states voted in favour of the tenth General Assembly resolution on a moratorium on the use of the death penalty. Death penalty reforms in Malaysia also led to a reduction by more than 1,000 in the number of people at risk of execution.
When people prioritize campaigning for an end to the death penalty, it really does work.
Agnès Callamard
Furthermore, the world witnessed the power of campaigning. Hakamada Iwao – who spent nearly five decades on death row in Japan – was acquitted in September 2024. This has continued into 2025. In March, Rocky Myers – a Black man sentenced to death in Alabama despite serious flaws in the proceedings – was granted clemency following calls from his family and legal team, a former juror, local activists and the international community.
“When people prioritize campaigning for an end to the death penalty, it really does work,” said Agnès Callamard. “Despite the minority of leaders determined to weaponize the death penalty, the tide is turning. It’s only a matter of time until the world is free from the shadows of the gallows.”
In 2024, global executions surged to 1,518, the highest since 2015
Iran, Iraq and Saudi Arabia responsible for 91% of executions
Known totals do not include thousands of people believed to have been executed in China, which remains the world’s lead executioner
Countries weaponising death penalty against protesters and there’s a rise in drug-related executions
‘Those who dare challenge authorities have faced the cruellest of punishments, particularly in Iran and Saudi Arabia, with the death penalty used to silence those brave enough to speak out’ – Agnès Callamard
Global executions hit their highest figure since 2015, as over 1,500 people were executed across 15 countries in 2024, said Amnesty International today as it released its annual report on the global use of the death penalty.
The 48-page report, Death Sentences and Executions 2024, found that 1,518 executions were recorded in 2024 – the highest number since 2015 (at least 1,634) – with the majority in the Middle East. However, for the second year in a row, countries carrying out executions remained at the lowest point on record.
The known totals do not include the thousands of people believed to have been executed in China, which remains the world’s lead executioner, as well as North Korea and Vietnam which are also believed to resort to the death penalty extensively. Ongoing crises in Palestine (State of) and Syria meant that Amnesty could not confirm a figure.
Iran, Iraq and Saudi Arabia were responsible for the overall rise in known executions. In total, the three countries accounted for a staggering 1,380 recorded executions. Iraq almost quadrupled its executions from at least 16 to at least 63 and Saudi Arabia doubled its yearly total from 172 to at least 345, while Iran executed 119 more individuals than last year rising from at least 853 to at least 972 accounting for 64% of all known executions.
Agnès Callamard, Amnesty International’s Secretary General, said:
“The death penalty is an abhorrent practice with no place in today’s world. While secrecy continued to shroud scrutiny in some countries that we believe are responsible for thousands of executions, it’s evident that countries that retain the death penalty are an isolated minority. With just 15 countries carrying out executions in 2024, the lowest number on record for the second consecutive year, this signals a move away from this cruel, inhuman and degrading punishment.
“Iran, Iraq, and Saudi Arabia were responsible for the sharp spike in deaths last year, carrying out over 91% of known executions, violating human rights and callously taking people’s lives for drug-related and terrorism charges.”
Authorities weaponising death penalty
Throughout 2024, Amnesty witnessed leaders weaponising the death penalty under the false pretence that it would improve public safety or to instil fear among the population. In the USA, which has experienced asteady upward trend inexecutionssince the end of the Covid-19 pandemic,25 people were executed (against 24 in 2023). Newly elected President Trump repeatedly invoked the death penalty as a tool to protect people “from violent rapists, murderers, and monsters”. His dehumanising remarks promoted a false narrative that the death penalty has a unique deterrent effect on crime.
In some countries in the Middle East region, death sentences were used to silence human rights defenders, dissidents, protesters, political opponents, and ethnic minorities.
Agnès Callamard added:
“Those who dare challenge authorities have faced the cruellest of punishments, particularly in Iran and Saudi Arabia, with the death penalty used to silence those brave enough to speak out.
“In 2024, Iran persisted in their use of the death penalty to punish individuals who had challenged the Islamic Republic establishment during the Woman Life Freedom uprising. Last year saw two of those people – including a youth with a mental disability – executed in connection with the uprising following unfair trials and torture-tainted ‘confessions’, proving how far the authorities are willing to go to tighten their grip on power.”
Saudi authorities continued to weaponise the death penalty to silence political dissent and punish nationals from the country’s Shi’a minority who supported “anti-government” protests between 2011 and 2013. In August, the authorities executed Abdulmajeed al-Nimr for terrorism-related offences related to joining Al-Qaeda, despite initial court documents referring to his participation in protests.
The Democratic Republic of Congo announced its intention to resume executions while Burkina Faso’s military authorities announced plans to reintroduce the death penalty for ordinary crimes.
Rise in executions for drug-related offences
Over 40% of executions in 2024 were carried out unlawfully for drug-related offences. Under international human rights law and standards, the use of the death penalty must be restricted for the ‘most serious crimes’ – sentencing people to death for drug-related offences does not meet this threshold.
Agnès Callamard said:
“Drug-related executions were prevalent in China, Iran, Saudi Arabia, Singapore and, while no confirmation was possible, likely Vietnam. In many contexts, sentencing people to death for drug-related offences has been found to disproportionately impact those from disadvantaged backgrounds, while it has no proven effect in reducing drug trafficking.
“Leaders who promote the death penalty for drug-related offences are proposing ineffective and unlawful solutions. States considering introducing capital punishment for drug-related offences, such as the Maldives, Nigeria and Tonga, must be called out and encouraged to put human rights at the centre of their drug policies.”
The power of campaigning
Despite a rise in executions, just 15 countries were known to have carried them out – the lowest number on record for the second consecutive year. As of today, 113 countries are fully abolitionist and 145 in total have abolished the death penalty in law or practice.
In 2024, Zimbabwe signed into law a bill that abolished the death penalty for ordinary crimes. For the first time, more than two thirds of all UN member states voted in favour of the tenth General Assembly resolution on a moratorium on the use of the death penalty. Death penalty reforms in Malaysia also led to a reduction by more than 1,000 in the number of people at risk of execution.
Furthermore, the world witnessed the power of campaigning. Hakamada Iwao – who spent nearly five decades on death row in Japan – was acquitted in September 2024. This has continued into 2025. In March, Rocky Myers – a Black man sentenced to death in Alabama despite serious flaws in the proceedings – was granted clemency following calls from his family and legal team, a former juror, local activists and the international community.
Agnès Callamard added:
“When people prioritise campaigning for an end to the death penalty, it really does work. Despite the minority of leaders determined to weaponise the death penalty, the tide is turning. It’s only a matter of time until the world is free from the shadows of the gallows.”
We’ve done well in raising the profile of disability-inclusive disaster risk reduction — now it’s time to deliver results on the ground.
As Sendai implementation picks up pace, I suggest five areas that could offer lasting wins for persons with disabilities – a group that comprises 15% of the global population.
In early April 2025, I had the privilege of attending the Global Disability Summit in Berlin, which was hosted by the Governments of Germany and Jordan. Held at Station Berlin, at historic Potsdamer Platz, the event brought together more than 4,000 participants from across the world to explore how we can put persons with disability at the heart of every aspect of human life, to ensure that they are fully included in our collective flourishing.
The atmosphere was truly inspiring, charged with hope, optimism and a palpable “can do” attitude. The phrase, “nothing about us, without us” rang out clearly as a powerful, heartfelt dictum. I was particularly glad to see disaster risk reduction (DRR) featuring prominently at the Summit.
While the global, national, and local discourse on the topic has come a long way, specific on-the-ground actions still need to catch up. As one speaker said during the Opening Ceremony, we need to cultivate a sense of “radical curiosity about the experiences of persons with disability.”
We’ve seen in several recent disasters that mortality and morbidity rates among persons with disability have been several times higher than the general populace – a reminder of the urgent work ahead. In the remaining five years of the Sendai Framework, if we pursue the following five strands with urgency, we will show the concrete results that we need:
1. Embed disability inclusion in DRR plans and strategies
A decade into the Sendai Framework’s implementation, the most progress has been on Target E – plans and strategies for disaster risk reduction. Yet many of these still fall short of addressing the specific needs and capacities of persons with disabilities.
These strategies must be informed not only by data and evidence – such as census information on persons with different types of physical and intellectual disabilities – but also by the lived experience of persons with disabilities themselves. To make this happen we need to build an institutional culture that is responsive to specific individual needs, especially those of the most vulnerable people.
2. Gather data on disaster impacts on persons with disabilities
The Sendai Monitor calls for disaster loss data that is disaggregated by gender, age, and disabilities. However, only a few dozen countries presently collect and report such data for persons with disabilities. In some data-scarce contexts, this may be a challenging task – especially when the baseline data on persons with disabilities don’t exist.
However, we must start somewhere. If we begin collecting data on disaster impacts on persons with disabilities now, in a few years this will throw up rich insights that can help us refine our strategies for persons with disabilities.
3. Move from policies and guidelines to specific actions:
In recent years, several countries – and sub-national bodies – have developed and adopted policies and guidelines for disability-inclusive disaster risk reduction – a close-to-home example (for me) is India, with guidelines at the national level and the sub-national level(Kerala State as one instance).
What specific actions flow from these instruments? In the context of early warning systems, we’ve seen examples of standard operating procedures developed to ensure a suite of disability inclusive actions – from accessible warning and inclusive evacuation plans to suitable evacuation infrastructure. However, such concrete actions should also extend to address comprehensive disaster risk reduction efforts.
Let’s take flood risk management as an example: if a community has to relocate away from a flood-prone settlement, how can it ensure that the new location is suitable for persons with disabilities? Or if houses are being retrofitted and being raised on stilts, how can these meet the needs of persons with disabilities? Similarly, what does it mean for persons with disabilities to “build back better” after disasters? We need to stretch our imagination of risk reduction to turn policies and guidelines into concrete inclusive actions.
4. Extend access to assistive technologies
The last decade has seen great progress in assistive technologies for persons with disabilities. Rapid advances in fields such as AI, neurosciences, and synthetic biology promise an even brighter future. But access to these technologies is highly unequal – between men and women, between developing and developed countries, between rural and urban areas, and so on.
Governments must take a proactive policy stance to address these inequalities. Could disability-disaggregated census data be used to incentivize both public and private sector investments in developing assistive technologies that are cost-efficient and affordable?
5. Ask: is it really working?
And finally, we must find smarter ways to asses our impact. A good start would be for every post-disaster “after action review” to include this key question for persons with disabilities: “Did the systems work for you?”
At UNDRR, we have made disability-inclusive DRR a priority. In my recent missions to Australia, Finland, Fiji and Germany, I was struck by deep commitment to this cause – and a rising sense of urgency – from governments. In Berlin, I had rich discussions with ministers from Italy and Scotland – both are serious about making real changes in their countries.
UNDRR has endorsed the Amman-Berlin Declaration, the fruit of the Global Disability Summit. This declaration calls for all international development programmes to be inclusive of and accessible to persons with disabilities, and for at least 15% of country-level development programmes to explicitly pursue disability inclusion as an objective: “15 percent for the 15 percent.”
We are making steady progress on disability inclusion in disaster risk reduction. With accelerated action and wider mobilization, transformational change is within reach!
Source: Hong Kong Government special administrative region
SFST’s opening remarks on financial services at LegCo Finance Committee special meeting Chairman and Honourable Members,
I will briefly introduce the estimates of expenditure for financial services and our key areas of work in 2025-26.
Estimates of expenditure
The allocation to the Financial Services Branch (FSB) and departments under its purview for 2025-26 is around $1.6 billion. The allocation is decreased by around $0.6 billion over the revised estimate of last year, mainly due to the one-off provision of $200 million to the Accounting and Financial Reporting Council last year, but no such special expenditure is estimated for 2025-26. Secondly, most of the system development costs of the eMPF Platform have been settled in previous years, and the eMPF Platform Company Limited has to repay a one-off cash advance to the Government, resulting in a decrease in cash flow requirement for the Platform in 2025-26. Furthermore, allocation for various funding schemes/initiatives under the “Funding for promoting and facilitating the development of the financial services sector” in 2025-26 is revised.
Key areas of work
In the coming year, our work will focus on six main themes, namely, continuously supporting the vibrant development of stock market and initial public offering (IPO) market, facilitating asset and wealth management business, attracting enterprises, boosting fintech and innovation, deepening mutual access and international co-operation and taking forward institutional reforms continuously.
(i) To continuously support the vibrant development of the stock market and IPO market, Hong Kong Exchanges and Clearing Limited (HKEX) is taking forward the establishment of a dedicated “technology enterprises channel” (TECH) to further assist specialist technology and biotechnology companies in raising funds and expanding business, facilitating the relevant companies in preparing for listing applications. Meanwhile, the Securities and Futures Commission (SFC) and the HKEX will take forward a comprehensive reform to the listing regime and review the market structure to dovetail with the latest economic trends and corporate needs, attracting more Mainland and overseas issuers to raise funds in Hong Kong as well as investors to increase their allocation to Hong Kong stocks. In addition, we will take forward various measures in facilitating financing of overseas enterprises and specific products, improving trading and risk management efficiency, and promoting trading of Renminbi (RMB) stocks, thereby driving the high-quality development of the Hong Kong securities market and creating more new growth areas.
(ii) To facilitate the asset and wealth management business, we will formulate proposals on the preferential tax regimes for funds, single family offices and carried interest this year, including expanding the scope of “fund” under the tax exemption regime and increasing the types of qualifying transactions eligible for tax concessions for funds and single family offices. Our target is to submit the legislative proposals to the Legislative Council (LegCo) for consideration next year, and strive for the LegCo’s approval as soon as possible to apply the relevant measures with effect from the 2025-26 financial year. Furthermore, Invest Hong Kong has assisted over 160 family offices to set up or expand their businesses in Hong Kong. The third edition of the Wealth for Good in Hong Kong Summit, themed “Hong Kong of the World, for the World”, was successfully held last month, attracting around 360 family office principals and industry leaders, to showcase Hong Kong’s advantages as a leading global family office hub.
(iii) We strive to attract enterprises from the Mainland and around the world to set up headquarters or corporate divisions in Hong Kong. Meanwhile, we submitted a bill to the LegCo for the introduction of a company re-domiciliation mechanism to provide facilitation for companies domiciled overseas to re-domicile to Hong Kong. The scrutiny of the bill is approaching the final stage, and we are thankful to Members for their support. We will pursue the passage of the bill in May for it to take immediate effect.
(iv) We are at the forefront of fintech and are actively promoting innovation.
On virtual assets, we will soon promulgate a second policy statement on the development of virtual assets to explore the convergence of traditional finance and virtual assets, and will conduct consultation on the licensing regimes of virtual asset over-the-counter trading services and custodian services this year. The Stablecoins Bill submitted to the LegCo at the end of last year has also reached the final stage of scrutiny.
In terms of gold and commodities market, we established the Working Group on Promoting Gold Market Development last December, which will formulate a plan this year to enhance gold storage facilities, trading mechanisms, etc. The London Metal Exchange, a subsidiary of the HKEX, has included Hong Kong as an approved delivery point, further strengthening our market position.
We, together with the Office for Attracting Strategic Enterprises and the Hong Kong Trade Development Council, will host the inaugural Hong Kong Global Financial and Industry Summit this year, which will, through financial empowerment, attract more leading companies in advanced industries, domestic as well as overseas enterprises and investors to establish a foothold in Hong Kong.
On fixed income and currency hub, the SFC and the Hong Kong Monetary Authority (HKMA) have set up a task force to formulate a roadmap. We will also organise a flagship forum in the second half of this year to promote Hong Kong’s strengths in this regard. We will also conduct research into the current legal and regulatory regime related to the issuance and transactions of digital bonds and explore enhancement measures to promote the wider adoption of tokenisation in Hong Kong’s bond market.
(v) Hong Kong’s status as an international financial centre is inseparable from our connection with the Mainland and the world. To deepen mutual access and international co-operation, we will strive to enhance the mutual access mechanism. For example, we will explore extending the Cross-boundary Wealth Management Connect Scheme in the Greater Bay Area. Both places are also conducting technical preparations to implement the inclusion of RMB trading counter under Southbound trading of Stock Connect, and taking forward further expansion initiatives. Offshore RMB business is also being upgraded, with the liquidity pool expanding to approximately RMB1.1 trillion.
The Government and the HKEX will step up promotion in ASEAN (Association of Southeast Asian Nations) and the Middle East, foster financial co-operation, attract more enterprises to list in Hong Kong, and explore co-operation including listing of exchange-traded funds to promote two-way capital flows.
(vi) We will also take forward institutional reforms on different aspects continuously.
On improving trading and risk management efficiency, the HKEX is gradually conducting upgrades to its post-trade system to ensure technical compatibility with the T+1 settlement cycle by the end of this year, and will also put forward recommendations on improving the trading unit system (or so-called “board lot” system) within this year. In addition, to meet the risk management needs of investors, the SFC has consulted the market on the proposal to increase the position limits for key index derivatives, so as to enhance flexibility for investors to use the relevant derivatives while safeguarding financial safety.
On reforming the MPF (Mandatory Provident Fund) System, the MPFA (Mandatory Provident Fund Schemes Authority) commenced public consultation on the proposal of MPF “Full Portability” in late March, and will submit consultation conclusions and a legislative amendment proposal to the Government upon completion of the public consultation. Subject to the results of the public consultation, the Government will proceed with legislative amendments, so that MPF “Full Portability” could be launched soon after the full implementation of the eMPF Platform.
Chairman, my colleagues and I will be happy to answer Members’ questions. Thank you, Chairman. Issued at HKT 17:57
Source: Hong Kong Government special administrative region
Appointments to Community Involvement Committee on Greening announced The new non-official members are Dr Edmond Cheng Kam-wah, Ms Linda Ho Wai-ping, Ms Venus Kuk Wing-yee, Ms Grace Kwok May-han, Mr Lam Tak-shing, Dr Louis Lee Shing-him, Mr Warren Luk Hua and Dr Tse Wai-lok. The reappointed non-official members are Miss Linda Choy Siu-min, Dr Tony Ip Chung-man, Miss Trazy Kong Lok-yi, Ms Florence Tsui Ho-fun, Mr Wong Chung-leung and Ms Idy Wong Lai-yin.
A spokesman for the DEVB said, “The CICG comprises members from various sectors including community, construction/property management, education, green groups/industry bodies and public relations. The Committee offers valuable insights and advice on the promotion of our greening efforts and related community involvement activities.”
The spokesman also expressed gratitude to the nine outgoing non-official members, Dr Johnnie Chan Chi-kau, Ms Chan Man-kuen, Mr Cheng Ka-ho, Mr Cheung Yung-pong, Dr Jeffrey Hung Oi-shing, Ms Una Lau Yuk-min, Dr Caroline Law Man-yee, Dr Angie Ng Ying-sim and Ms Poon Wing-yi, for their invaluable advice and contributions to the CICG during their tenure.
Appointed by the Secretary for Development, members of the CICG advise the DEVB on measures to encourage quality greening and nurture a culture of tree care through civic education and community involvement activities. The membership of the new term of the CICG is set out below:
Chairman ———— Permanent Secretary for Development (Works)
Non-official members ————————— *Dr Edmond Cheng Kam-wah Miss Linda Choy Siu-min *Ms Linda Ho Wai-ping Dr Tony Ip Chung-man Miss Trazy Kong Lok-yi *Ms Venus Kuk Wing-yee *Ms Grace Kwok May-han *Mr Lam Tak-shing *Dr Louis Lee Shing-him *Mr Warren Luk Hua *Dr Tse Wai-lok Ms Florence Tsui Ho-fun Mr Wong Chung-leung Ms Idy Wong Lai-yin
Official Members ——————— Secretary for Education or representative Director of Agriculture, Fisheries and Conservation or representative Director of Civil Engineering and Development or representative Director of Environmental Protection or representative Director of Home Affairs or representative Director of Housing or representative Director of Leisure and Cultural Services or representative Deputy Secretary for Development (Works) 1
Secretary ———— Head of Greening, Landscape and Tree Management Section
Source: Hong Kong Government special administrative region
Executive Council gives consent to increase tramway fares (Change) Persons aged 12 or above $3.0 $3.3 (+$0.3) Children (aged 3 to 11) $1.5 $1.6 (+$0.1)??? Since its last fare adjustment in July 2022, HKT has been facing competition from other modes of public transport. Patronage has not recovered to the pre-pandemic level, while the potential to further increase non-fare box revenue, currently accounting for about 50 per cent of HKT’s total revenue, is rather limited. At the same time, the operating costs and staff costs of HKT have been rising continuously. HKT will also continue to invest in improvement projects, including the renewal of tram track and upgrading tram cars in the fleet to provide passengers with more stable rides, safer and more comfortable journeys. In addition, HKT is expected to launch a new mobile application in the second quarter of this year to provide service information, such as real-time estimated times of arrival for passengers, thus improving their ride experience. Issued at HKT 16:28
Priority question for written answer P-001376/2025 to the Commission Rule 144 Lina Gálvez (S&D)
The Pulmón Verde (‘Green Lung’) association, with the backing of fifty other collectives and groups, is demanding that the site located between Calle Arrayán and Calle Divina Pastora be transformed into a new green space in the centre of Seville. This demand is at odds with Seville City Council’s intention to put the space up for sale without a clearly defined project addressing the stated demand.
Creating more green spaces is key to protecting people’s health against the effects of climate change, as they help to reduce heat – which is linked to increased summer mortality – and to mitigate respiratory diseases. A study carried out by the Barcelona Institute for Global Health estimates that 74 % of Seville’s residents live in areas with a lower density of vegetation than recommended by the World Health Organisation (WHO).
Bearing in mind that Articles 8 and 13 of the EU Biodiversity Strategy for 2030 establish the goal of planting at least 3 billion additional trees by 2030:
In the Commission’s view, should Seville City Council join this common cause, which would decrease ambient temperatures and benefit people’s health and wellbeing, particularly for those living in urban areas?
On 24 April 2025, from 9:30 to 11:00, the FISC Subcommittee will host a public hearing on “The role of tax in aligning the green transition and competitiveness”.
The purpose of the hearing is to examine tax incentives for clean energy, aviation, and maritime transport, with a particular focus on the recommendations from the Draghi report. The discussion will explore how fiscal measures can support the green transition and enhance sustainability in these key sectors.
In particular, policy experts on the transport and logistics sectors and on key industries sectors, together with representatives from academia and the OECD, will provide valuable perspectives on the role of tax incentives in making aviation and maritime transport more sustainable.
On 24 April 2025, from 9:30 to 11:00, the FISC Subcommittee will host a public hearing on “The role of tax in aligning the green transition and competitiveness”.
The purpose of the hearing is to examine tax incentives for clean energy, aviation, and maritime transport, with a particular focus on the recommendations from the Draghi report. The discussion will explore how fiscal measures can support the green transition and enhance sustainability in these key sectors.
In particular, policy experts on the transport and logistics sectors and on key industries sectors, together with representatives from academia and the OECD, will provide valuable perspectives on the role of tax incentives in making aviation and maritime transport more sustainable.
While most of the graphite used in industry today is synthetic graphite imported from China, UP Catalyst’s synthetic graphite offers some important advantages. For a start, whereas most synthetic graphite is made from heating petroleum industry biproducts to high temperature and therefore entail high CO2 emissions, UP Catalyst gets its CO2 from biogas and its electricity from renewable sources in a process that is overall carbon negative.
“Typically, synthetic graphite is a very carbon intensive product, which is basically made from petroleum refinery residues,” explains Jonas Wolff, a senior advisor at the European Investment Bank. “But because UP Catalyst is using CO2 emissions from biofuels, they are effectively taking CO2 out of circulation and permanently sequestrating its carbon, which is hugely beneficial, in terms of our climate objectives.”
Another positive aspect of UP Catalyst’s process is that it could help the European Union to reduce its dependence on graphite imports from China, which currently supplies about 95% of the material. Recognising the potential of the technology, the company’s project that plans to turn a quarter of a million tons of CO2 into graphite was recently listed as one of 47 Strategic Projects for critical raw materials by the European Commission, a designation that means it will benefit from coordinated support by the Commission, Member States and financial institutions as well as streamlined permitting provisions.
– Leading Web3 Gaming Innovation through AI-based Esports Content
KINGSTOWN, Saint Vincent and the Grenadines, April 08, 2025 (GLOBE NEWSWIRE) — Miracle Play, a Web3 Esports tournament platform, officially launched the beta version of ‘AI GRANPRIX’, an AI agent racing simulation, on March 31.
‘AI GRANPRIX’ is designed as an autonomous simulation tournament system where AI agents learn racing strategies and compete based on user-created dNFT vehicles, offering an immersive experience distinct from traditional manual competition formats.
In this beta version, users mint dNFT vehicles based on custom basic stat distributions and directly observe how these stats influence simulated racing outcomes. Tournament results are presented as simulation replay videos derived from match data, providing immersive, spectator-focused Esports content for both participants and general users. A reinforcement learning mode for AI parameters will be gradually introduced starting early May. The official release will feature a fully operational technical framework in which AI’s strategic learning logic and match performance are interconnected in real-time.
Through this system, players assume a supervisory role, strategically influencing AI development and parameter optimization without direct manual operation. Achievements in reinforcement learning directly reflect in match performance, immediately linking match outcomes to the value of dNFT assets on-chain.
This creates a quantifiable cause-and-effect relationship between AI parameter optimization and match results, transforming players from mere consumers into designers and contributors who actively participate in asset value creation.
Such a structure establishes a clear feedback loop—”AI learning → Match results → On-chain asset appreciation”—highlighting Miracle Play’s realization of next-generation Esports architecture that organically connects AI technology with blockchain-based asset economies.
Additionally, Miracle Play’s tournament system introduces a novel GameFi model known as the “performance-based farming structure,” which transcends simple match participation. Players achieving above-average scores in tournaments receive gaming tokens as rewards, which can then be burned to secure reward shares. The more tokens a player burns, the higher their reward from the Burn Pool, thus incentivizing active participation and contributions simultaneously.
Within the community, this unique model has earned Miracle Play the nickname “Web3 Tournament Mining Machine,” creating a strategic mining meta. Because rewards depend not only on match outcomes but also on performance metrics and burn contributions, strategic data-driven participation and active contributions rather than mere luck become critical factors. This ecosystem is designed to seamlessly integrate play and farming, enhancing both on-chain economies and gameplay to deliver an active, reward-oriented Web3 gaming experience favored by MZ generation users.
Currently, Miracle Play boasts over 1.2 million cumulative tournament participants, total prize money of $350,000, and more than 2.8 million on-chain transactions, maintaining steady growth. Going forward, Miracle Play plans to open its proprietary technology ecosystem by introducing the ‘Miracle Agent SDK’ to external game developers. This initiative will facilitate easy integration of AI-based automated tournament systems across various game genres, accelerating the establishment of a universal Esports ecosystem combining AI technology and blockchain infrastructure.
A representative from Miracle Play stated, “AI GRANPRIX represents the first Esports model that integrates strategic AI learning, blockchain-based transparent competition structures, and digital asset mechanisms. We will continue refining the system based on user feedback and establish foundations for more games to implement AI-based tournaments through the Miracle Agent SDK.”
Disclaimer:This press release is provided byMiracle Play. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Speculate only with funds that you can afford to lose.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.
Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.
Photos accompanying this announcement are available at:
BOSTON, April 08, 2025 (GLOBE NEWSWIRE) — Tyton Partners, the strategy consulting and investment banking firm connecting capital, innovation, and impact in education, today released its latest report, Catalytic Capital: Funding the Missing Middle in the Education-to-Workforce Ecosystem. The report, supported by World Education Services (WES) and Strada Education Foundation, sheds light on a persistent funding gap preventing scalable solutions in workforce development and calls on impact investors to embrace catalytic capital as a transformative funding strategy.
The education-to-workforce pipeline in the U.S. is fractured, leaving millions of learners and workers without viable pathways to sustainable careers. While philanthropy and market-rate investment play critical roles, they leave a “missing middle”—high-impact initiatives that fail to attract traditional funding due to their risk-return profile. Catalytic capital, which is patient, flexible, and impact-first, can bridge this gap, unlocking scalable solutions and accelerating workforce innovation.
“The urgency for new funding strategies in workforce development has never been greater,” said Andrea Mainelli, Senior Advisor at Tyton Partners. “Catalytic capital has been successfully deployed in sectors like climate and microfinance, yet it remains underutilized in education-to-workforce initiatives. This report provides a blueprint for how investors can mobilize capital in ways that drive systemic, lasting change.”
Key insights from the report include:
Catalytic capital is not new—It has been deployed for decades by development finance institutions and foundations to solve large-scale social challenges.
A critical funding gap persists—Traditional capital ignores high-impact opportunities that lack immediate financial returns, while philanthropy alone is insufficient.
Market failures require intervention—Three distinct market failures—nascent markets, subsidized markets, and broken markets—demand catalytic capital solutions.
Investors can take action now—Flexible capital strategies can unlock workforce solutions at scale, from student-friendly financing models to career navigation platforms.
To develop these insights, Tyton Partners conducted extensive research, including interviews with impact investors and a review of over 30 leading studies on catalytic capital and blended finance.
The report calls on investors, foundations, and policymakers to rethink their funding strategies and integrate catalytic capital into their portfolios. “The time is now to embrace more flexible and holistic approaches to impact investing—ones that go beyond the traditional limits of grants and market-rate investments to unlock greater potential for meaningful change,” said Sean Crowley, Senior Manager of Investments at World Education Services.
Tyton Partners invites investors and ecosystem leaders to explore the findings and engage in discussions on how catalytic capital can drive workforce transformation.
Read the fullCatalytic Capital: Funding the Missing Middle in the Education-to-Workforce Ecosystemreporthere.
Media Contact Zoe Wright-Neil Director of Marketing and Business Development zwrightneil@tytonpartners.com Tyton Partners
About Tyton Partners Tyton Partners is the leading provider of strategy consulting and investment banking services to the global knowledge and information services sector. With offices in New York City and Boston, the firm has an experienced team of bankers and consultants who deliver a unique spectrum of services from mergers and acquisitions and capital markets access to strategy development that helps companies, organizations, and investors navigate the complexities of the education, media, and information markets. Tyton Partners leverages a deep foundation of transactional and advisory experience and an unparalleled level of global relationships to make its clients’ aspirations a reality and to catalyze innovation in the sector. Learn more at tytonpartners.com.
VICTORIA, Seychelles, April 08, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency exchange, announced the launch of MEXC Alpha on its decentralized trading platform, MEXC DEX+. This innovative product focuses on early-stage, high-potential crypto projects, aiming to help over 34 million users worldwide get ahead of market trends and seize the next big opportunity in the crypto space.
MEXC DEX+ now fully supports the Solana ecosystem, integrating popular liquidity pools like pump.fun, PumpSwap, and Raydium, offering a wide selection of over 10,000 on-chain assets. DEX+ has also integrated top DEXs from the BSC ecosystem, including PancakeSwap, covering more than 5,000 popular tokens, ranging from DeFi projects to memecoins.
The crypto market evolves rapidly and unpredictably. For everyday users to stay ahead of the curve and spot promising projects early requires deep industry knowledge combined with significant investments of both time and effort. MEXC DEX+ continues to roll out new features to help users invest with greater precision, which is exactly what MEXC Alpha is designed to do.
MEXC Alpha highlights early-stage, high-potential projects across multi-chain ecosystems like Solana and BSC, keeping pace with trends in DeFi innovation, memecoin surges, and emerging trends. Backed by expert industry insights and real-time market data, Alpha provides trustworthy investment references. MEXC Alpha is a direct response to user needs: it leverages expert curation and robust technology to lower investment barriers, enabling every user to easily and efficiently select promising targets, invest in early-stage projects, and seize opportunities ahead of the market.
MEXC Alpha features three core principles: Security, Efficiency, and Simplicity. Security: Backed by MEXC’s team of professionals, Alpha leverages industry insights and market data to carefully select and showcase high-potential projects from over 10,000 trending tokens. This helps users quickly identify promising opportunities and boost investment impact. Efficiency: Designed to secure the best trading prices and streamline the trading process, Alpha is available on both MEXC’s App and Web platforms, allowing users to monitor markets and seize opportunities anytime, anywhere. Simplicity: There’s no need to create a Web3 wallet or manage private keys. Users only need to create an MEXC account and activate the DEX+ wallet. By depositing SOL or BNB, they can start trading on-chain instantly, significantly lowering the entry barrier for everyday users.
As the crypto market rapidly evolves and trends become increasingly fragmented, everyday users face greater challenges when it comes to research and decision-making. MEXC Alpha, powered by the insights of a professional team and a data-driven selection strategy, provides a simple and efficient trading experience to help users get ahead and discover the next potential 100x gem.
Alpha is more than just a tool for uncovering valuable investments: it offers listed on-chain projects the opportunity to be featured on MEXC’s Spot or Futures markets. This mechanism shortens the complex path from on-chain discovery to exchange listing, enhancing both project visibility and trading efficiency, while giving early participants a unique edge.
Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 34 million users across 170+ countries and regions, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
Disclaimer:This press release is provided by MEXC. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Speculate only with funds that you can afford to lose.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.
Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.
Source: Africa Press Organisation – English (2) – Report:
BRAZZAVILLE, Congo (Republic of the), April 8, 2025/APO Group/ —
The African region has made progress in lowering maternal mortality since 2000 but needs a 12-fold increase in the annual reduction rate to reach the Sustainable Development Goals (SGD) target of fewer than 70 deaths per 100 000 live births by 2030, new estimates by the United Nations Maternal Mortality Estimation Interagency Group show.
Despite a 40% decline in maternal mortality, from 727 to 442 deaths per 100 000 live births between 2000 and 2023, the region still accounts for 70% of global maternal deaths. Each year, an estimated 178 000 mothers and 1 million newborns die in the Africa region – many from preventable causes.
At the current annual reduction rate of 2.2% between 2000 and 2023, the region is projected to have nearly 350 maternal deaths per 100 000 live births by 2030, five times higher than the SDG target of fewer than 70 deaths.
Likewise, although stillbirth and neonatal mortality rates have declined by 30% and 33% respectively between 2000 and 2023, sub-Saharan Africa still accounts for 47% of stillbirths and 46% of global newborn deaths. The region is projected to record neonatal mortality rate of about twice the SDG target of at least as low as 12 deaths per 1000 live births by 2030.
This year’s World Health Day, marked under the theme “Healthy Beginnings, Hopeful Futures,” calls on governments, donors and communities to ramp up efforts to end preventable maternal and newborn deaths and to prioritize the longer-term health and well-being of women and children.
“In too many places, pregnancy and childbirth are still life-threatening events,” said Dr Chikwe Ihekweazu, Acting WHO Regional Director for Africa. “But it doesn’t have to be this way. Every dollar invested in maternal and newborn health delivers major returns: healthier families, stronger societies and sustainable economic growth.”
Key barriers to progress include inadequate financing, weak governance, health workforce shortages and recurring shocks, such as disease outbreaks and conflicts, all of which disrupt maternal and child health services. In fragile and crisis-affected settings, women and children are particularly at risk.
Leading causes of maternal deaths in the region include haemorrhage, hypertensive disorders, infections, unsafe abortion and obstructed labour, all conditions that are largely preventable or treatable with access to timely, quality care. Among newborns, preterm births, complications during childbirth, sepsis and neonatal infections, as well as congenital anomalies are the common causes of deaths.
WHO is supporting countries across the region in implementing a wide range of interventions. These include developing and rolling out maternal and newborn health acceleration plans and implementing antenatal and postnatal care guidelines.
Other priorities include increasing access to skilled health personnel at birth and emergency obstetric care, expanding special care for small and sick newborns, and tackling the social and economic drivers of health inequities.
More than 60% of countries in the African region now report that over 80% of births are attended by skilled health personnel, a significant improvement from just 28% in 2010. However, progress varies across the region, with rural and crisis-affected areas continuing to face acute service shortage gaps.
World Health Day 2025 marks the launch of a year-long campaign to drive investment and momentum in maternal and newborn health. Through stronger partnerships, accountability and bold leadership, WHO and partners aim to build a future in which no woman dies while giving life, and every child gets the chance to grow and thrive.
Source: United Kingdom – Executive Government & Departments
Press release
West Yorkshire manufacturer opens factory and expands global reach with UKEF support
Rosehill Polymers Group has opened a new factory in Sowerby Bridge following a previous financing agreement with UK Export Finance (UKEF) and Virgin Money.
The company now exports directly to over 60 countries, through an established network of distributors and end customers.
The financing is also supporting apprenticeship schemes and university placements in West Yorkshire, helping to develop the region’s future manufacturing workforce.
Founded in 1988, Rosehill Polymers Group is a UK manufacturer of high-performance polymer systems using recycled rubber. Its solutions are widely used across sectors such as highways, rail, energy, sport, and security infrastructure.
In 2023, UKEF, the UK government’s export credit agency, issued a credit guarantee for Rosehill under its General Export Facility. This unlocked new financing from Virgin Money, enabling Rosehill to scale its operations and invest in global growth.
Thanks in part to this financing, the company has now expanded its direct export markets from 52 to over 60 countries and opened a second factory in Sowerby Bridge. This reflects strong international demand and the versatility of its solutions across diverse applications.
In 2024–25 alone, Rosehill used the new financing to break into nine new export markets, including Chile, Colombia, the Cayman Islands, South Africa, Angola, Saudi Arabia, Turkey, Iraq, and Romania.
Further growth is anticipated in 2025, with market entries planned in Argentina, Bolivia, Panama, Suriname, French Guiana, Namibia, Malaysia, Croatia, Latvia, and Singapore.
With around 100 staff based at its West Yorkshire site, including in-house chemists and technical specialists, Rosehill continues to invest in skills through apprenticeships and university placements, ensuring a strong foundation for the future.
UKEF’s support has been instrumental in helping Rosehill drive sustainable manufacturing growth, expand its international footprint, and contribute to the UK’s global trade ambitions under the government’s Plan for Change.
Alexander Celik, CEO at Rosehill Polymers Group, said:
“Rosehill has an established history of exporting our products to several developed key markets. However, as competition within the sector increases, it is more important than ever to mirror this success elsewhere. Working with UKEF has not only enabled us to tap into the potential held within Latin America, Southeast Asia and Europe, but also expand our innovative product offering to even more customers worldwide.
“As we enter this next exciting phase of growth, our attention turns to meeting global demand, all while providing opportunities for people across Yorkshire. Our apprenticeship and placement schemes lay at the heart of what we do, and as we expand our overseas footprint, we hope to see this result in increased opportunities to attract the best talent to the industry.”
Alissia Deane, West Yorkshire Export Finance Manager at UKEF, said:
“The support provided to Rosehill Polymers highlights UKEF’s commitment to helping British SMEs achieve growth in overseas markets – something which in turn supports economic growth across the UK.
“It’s fantastic to see how our support ended up helping Rosehill to reach new export markets and develop jobs and talent in the local manufacturing industry.”
Craig Wilson, Head of FX Sales & Trade Finance at Virgin Money, said:
“Rosehill are a fabulous example of a successful and innovative UK manufacturing business growing their customer base through the world, and in the process growing their workforce locally.
“We are proud to be a key partner of Rosehill and provide some of the international tools and expertise to help them to continue to grow their already impressive international success. The current deal in conjunction with UK Export Finance is another great example of collaboration between Virgin Money and UKEF to support customers trading internationally.”
This publication provides estimates of Scotland’s greenhouse gas emissions on a consumption basis; that is emissions that are associated with the spending of Scottish residents on goods and services, wherever in the world these emissions arise, together with emissions directly generated by Scottish households.
Key points
Between 2020 and 2021, Scotland’s carbon footprint (emissions from all greenhouse gases) increased by 14.6 per cent from 51.6 to 59.2 million tonnes carbon dioxide equivalent (MtCO2e) in 2021.
Between 1998 and 2021, Scotland’s carbon footprint fell by 19.9 per cent from 73.9 MtCO2e in 1998 to 59.2 MtCO2e in 2021
Scotland’s carbon footprint rose continuously from 2001 to a peak of 81.7 MtCO2e in 2007 before falling sharply after 2007 (coinciding with the recession) and, with the exception of 2012, 2018, and 2021, has fallen each subsequent year. However, the 2021 value is highest seen since 2015. The overall reduction between the 2007 peak and 2021 is 27.6 per cent.
The data cover the period up to 2021 and show increased emissions compared to 2020. Emissions in 2020 were supressed by the effect of the national lockdowns and travel restrictions associated with COVID-19 pandemic.
3. This statistical report meets the requirements under Section 37 of the Climate Change (Scotland) Act 2009 and the updated requirements under Section 21 of the Climate Change (Emissions Reduction Targets) Act 2019. The data contained within this report are also used to inform National Indicator 47: “Carbon Footprint”.
5. Official statistics are produced by professionally independent statistical staff – more information on the standards of official statistics in Scotland can be accessed http://www.scotland.gov.uk/Topics/Statistics/About
8% pay increase for nurses, midwives and NHS workers in 2025-26 and 2026-27.
Nurses, midwives and other healthcare staff across Scotland have been offered a pay increase of 8% over two years to ensure they continue to be the best paid in the UK, Health Secretary Neil Gray has announced.
The offer guarantees the pay increase will be one percentage point above inflation over same period.
If accepted by trade unions, it will see pay raises of 4.25% in 2025-26 and 3.75% in 2026-27. It involves an investment of more than £700 million over the two-year period and will ensure almost 170,000 NHS Agenda for Change staff – including nurses, midwives, paramedics, allied health professionals, porters and others – benefit from the pay rise which will be backdated to 1 April 2025.
Health Secretary Neil Gray said:
“This is a strong two-year pay offer that has been agreed following constructive engagement with trade union representatives. It is guaranteed to remain above CPI inflation, which gives added reassurance to staff, and will ensure Scotland’s nurses, midwives and NHS staff have the best pay in the UK.
“This comes on the back of increased employer national insurance contributions following the UK Government announcement in October 2024. It directly increases the overall cost of pay by an estimated £191 million for Scotland’s NHS.
“I want to express my thanks again to Scotland’s hardworking healthcare staff for their continued hard work and commitment.
“The unions will now consult their members and I hope this offer will be accepted.”
BACKGROUND
A total of £701 million has been committed for Agenda for Change pay in 2025-26 and 2026-27. This equates to an uplift of 8% for all staff, 4.25% in 2025-26 and 3.75% in 2026-27.
Regeneration of the 8km stretch of the River Irwell into a vibrant and accessible urban park.
Renewed Connectivity and Movement Strategy introduces a stronger focus on active travel, environmental sustainability and community engagement.
A single piece of connected landscape, the area will provide four distinctive character zones.
Plans to create a series of riverside walking and cycling routes connecting Salford Quays and the city centre and transform the 8km stretch of the River Irwell into a vibrant and accessible urban park have today been approved by Salford City Council.
Following a comprehensive public consultation at the end of 2024, the renewed Irwell River Park (IPR) Connectivity and Movement Strategy has been developed, which builds on previous IPR regeneration and introduces a stronger focus on active travel, environmental sustainability and community engagement. This will now guide future development and investment to ensure that the current potential of the area can be maximised.
The approved strategy reflects ambitions to enhance connectivity, public realm, accessibility and identity along the IRP, making it a vibrant asset and a place for all that will deliver:
A connected Irwell: Irwell River Park will offer an uninterrupted, attractive and safe place to walk and cycle near to the river and will be easily accessible from local neighbourhoods and by public transport.
A resilient Irwell River Park: Irwell River Park will be resilient to climate change and a place that allows and encourages nature to thrive.
Spaces and places: Public spaces and parks will enable people and nature to experience and enrich Irwell River Park in a positive and meaningful way.
All are welcome: Irwell River Park will be a place that anyone can access and benefit from and it will aim to promote inclusivity.
This is Irwell River Park: Irwell River Park will have a distinctive identity that reveals and celebrates the rich history, culture and significance of the river corridor.
Irwell legacy: Irwell River Park should be embraced as a city asset, which is positively shaped and promoted by local people and key stakeholders.
While Irwell River Park is intended to be a single piece of connected landscape, the area will provide four distinctive character zones:
The Meadows and Anaconda: Focused on enhancing the green and ecologically rich area by improving access, safety and natural beauty.
Salford City: Focused on transforming the urban area by creating a continuous riverside pathway that seamlessly connects pedestrians and cyclists to key destinations.
Ordsall Riverside: Focused on improving the narrow riverside paths by widening them for safer pedestrian and cyclist use, alongside better lighting to enhance safety and visibility.
Salford Quays: Focused on creating a landmark destination and a place where people and nature exist more closely together.
Councillor Mike McCusker, Lead Member for Planning, Transport and Sustainable Development at Salford City Council said: “The plans that have been approved for Irwell River Park reflects our vision to improve movement and connectivity in Salford through a series of walking and cycling routes, public spaces and nature-rich environments.
“As part of the city’s regeneration and the council’s broader goals of creating a greener, fairer, and healthier city, over the next decade we want to create a vibrant and sustainable place that people can enjoy. Our aspiration is that the area will become an essential part of daily life in Salford, where residents can live healthier lives, engage with nature and connect with their city’s rich history.”
Customs today appealed to the public to stay alert to deceptive phone calls purporting to be made by the department.
Customs noted that it recently received a number of public enquiries about receiving phone calls from +852 2815 7711, which is the same number as its general enquiry hotline, or from other local mobile phone numbers.
The callers, claiming to be officers of Hong Kong Customs, tell the called party that they have seized an express parcel or cargo consignment because contraband items were found inside it.
Some of the callers also requested the called party to visit the Shenzhen Bay Control Point or other control points for investigations or penalty payments, or download unknown mobile applications.
Customs clarified that it has not made such calls, adding the incident has been reported to Police.
It reminded the public that its officers will provide relevant information to verify the identity of both parties if they need to contact them and will not request sensitive personal information nor ask them to download unofficial mobile applications.
Source: Hong Kong Government special administrative region
Opening remarks by SCS at LegCo Finance Committee special meeting Chairman,
Among the matters related to the civil service in the 2025-26 Draft Estimates of Expenditure, I would like to focus my introduction on the following items.
The first item is the civil service establishment. We have implemented the zero-growth policy in the civil service establishment since 2021-22 with the overall establishment controlled at a level not exceeding that as at end-March 2021, i.e. about 196 000 posts. With the concerted efforts of bureaux and departments, the civil service establishment has been reducing every year. It is anticipated that by March 31, 2026, the overall civil service establishment will have reduced to about 193 000 posts, i.e. a reduction by approximately 3 000 posts on a cumulative basis.
To better utilise manpower resources, we will trim the civil service establishment further, reducing it by 2 per cent each in 2026-27 and 2027-28 basing on the establishment of the preceding financial year. By April 1, 2027, about 10 000 posts are expected to be deleted from the civil service establishment within this term of Government. The resources saved will be included in the 2 per cent savings of the recurrent expenditure of the departments concerned under the Financial Services and the Treasury Bureau’s Productivity Enhancement Programme.
In addition, the Government has put forward in the Budget that for 2025-26, the executive authorities, the legislature, the judiciary and members of the District Councils take a pay freeze. This applies to members of the civil service. The effective date of the civil service pay freeze is April 1, 2025.
I understand recent concerns over the civil service establishment. Some people think that since the current vacancy rate stands at about 10 per cent, cutting the vacancies directly will achieve greater savings in expenditure. I would like to take this opportunity to clarify the matter. The reduction in the civil service establishment proposed in the Budget aims to optimise manpower arrangements through reorganisation and reprioritisation of work while maintaining the efficiency of public services. To this end, all posts, both filled and vacant, will be reviewed to ascertain the necessity to retain them. It does not mean that we can achieve the objective simply by deleting all vacant posts. For posts that are essential to the provision of public services, such as Air Traffic Control Officers and Station Officers, we have to retain them, and recruitment will continue. For posts currently occupied, they are not immune from deletion but may be deleted after the transfer of the incumbents and redistribution of work.
As a matter of fact, with the increasing workload of the Government, it requires much effort in planning for departments to cut expenditure and reduce their establishment at the same time. However, it also presents a good opportunity for them to think outside the box and adopt innovative thinking to enhance efficiency and effectiveness. The Government will continue to promote the adoption of management measures and digitalisation among departments with a view to optimising the use of civil service manpower resources and enhancing efficiency by reprioritising their work, redeploying internal resources, streamlining procedures and leveraging technology. In so doing, the leaner civil service can continue to deliver high-quality public services.
The second item is about civil service training. The Civil Service College will continue to take forward various initiatives to strengthen the governance capabilities of the civil service. The relevant estimated expenditure is about $255 million in 2025-26. The College will launch the Governance Talents Development Programme as proposed in the Policy Address to nurture governance talent with a macro perspective and professional leadership ability. It will also continuously enhance the content on technology application in civil service leadership training, enabling departmental leaders to better grasp the impact of technological development on public policy formulation and implementation. This will equip them to take on leadership responsibilities, guiding their departments to leverage technology, including optimising departmental information technology systems, better utilising big data and artificial intelligence to transform public services, and arranging appropriate training for departmental staff.
Regarding the medical and dental benefits for civil servants, the Government will continue to honour its contractual obligation as the employer and provide medical benefits for serving civil servants, pensioners and other eligible persons. The medical services provided by the Hospital Authority as part of the medical benefits have been included in the overall provision allocated to it. Regarding Families Clinic services and dental services provided by the Department of Health (including the pilot scheme on provision of dental scaling services via private dental organisations and the pilot scheme on receiving designated dental services at a medical institution in Shenzhen), a provision of around $1,158 million has been reserved. Also, we have reserved about $1,766 million to cover the expenditure on reimbursement of medical expenses that cannot be fully anticipated.
The Civil Service Bureau will continue to implement various policies and initiatives, such as strengthening civil service training, continuing to organise the Civil Service Staff Exchange and Collaboration Programme jointly with Mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area and beyond, further enhancing the civil service disciplinary mechanism, implementing the two pilot schemes on dental services for civil servants, providing childcare leave for government employees, etc.
Chairman, this is the end of my introduction. I would welcome questions from Members. Issued at HKT 16:03
Source: Hong Kong Government special administrative region
Hong Kong Customs alerts public to fraudulent phone calls Customs has recently received a number of public enquiries about receiving phone calls from +852 2815 7711, which is the same number as Customs’ General Enquiry Hotline (2815 7711), or from other local mobile phone numbers. The callers claimed to be an officer of Hong Kong Customs and told members of the public concerned that they had an express parcel or cargo consignment seized by Customs because contraband items had been found therein. Some of the callers also requested members of the public to take further actions, such as visiting the Shenzhen Bay Control Point or other control points for investigations or penalty payments, or downloading unknown mobile applications.
Customs clarified that the department had not made any of the calls in question. If Customs officers need to contact members of the public, they will provide relevant information to verify the identity of both parties, but will not request the public to provide sensitive personal information nor download unofficial mobile applications.
Customs has reported the incident to the Police for follow-up investigations.
Customs reminds members of the public to remain vigilant and verify the identity of a caller when receiving any suspicious phone call, and do not disclose their personal information to others arbitrarily. If in doubt, please report to the Police immediately.
Customs said impersonating a public officer is a serious offence and urged the public not to defy the law. Issued at HKT 16:00
Prime Minister Shri Narendra Modi interacts with MUDRA Yojana beneficiaries Mudra Yojana is not limited to any specific group but aims to empower the youth to stand on their own feet: PM
Mudra Yojana has a transformative impact in fostering entrepreneurship and self-reliance: PM
Mudra Yojana has brought a silent revolution with shift in the societal attitude about entrepreneurship: PM
Women are among the highest beneficiaries of Mudra scheme: PM
52 crore loans have been disbursed under the scheme, a monumental achievement unparalleled globally: PM
Posted On: 08 APR 2025 12:03PM by PIB Delhi
The Prime Minister Shri Narendra Modi interacted with MUDRA Yojana beneficiaries on the occasion of completion of 10 years of Pradhan Mantri Mudra Yojana at 7, Lok Kalyan Marg in New Delhi today. He extended his heartfelt gratitude to all attendees, emphasizing the cultural significance of welcoming guests and the sanctity their presence brings to a home. He invited participants to share their experiences. Shri Modi, interacting with a beneficiary who has turned a pet supplies, medicines, and services entrepreneur, highlighted the importance of expressing gratitude to those who believed in one’s potential during challenging times. He asked the beneficiary to invite the bank officials who had approved loans and showcase the progress made due to the loan. Shri Modi emphasized that such actions would not only acknowledge their trust but also inspire confidence in their decision to support individuals who dared to dream big. He further noted that demonstrating the outcomes of their support would undoubtedly make them feel proud of their contribution to fostering growth and success.
Speaking to Shri Gopi Krishna, an entrepreneur from Kerala, the Prime Minister highlighted the transformative impact of the Pradhan Mantri Mudra Yojana which enabled him to transition into a successful entrepreneur, focusing on renewable energy solutions for households and offices while creating job opportunities. The Prime Minister noted the beneficiary’s journey, after deciding to resign from his company in Dubai upon learning about the Mudra Loan. He noted that the solar installations under the PM Surya Ghar initiative were completed within two days. He also heard about the reactions of beneficiaries of the PM Surya Ghar initiative, noting that households in Kerala now enjoy free electricity despite challenges such as heavy rainfall and dense tree cover. Shri Krishna remarked that electricity bills, previously around ₹3,000, have now reduced to ₹240-₹250, while his monthly earnings have reached ₹2.5 lakh and above.
The Prime Minister further interacted with a female entrepreneur and the founder of House of Puchka from Raipur, Chattishgarh, who shared her inspiring journey from cooking at home to establishing a successful café business. She said that research into profit margins and food cost management played a crucial role in this entrepreneurial success. She further added that there is fear in the minds of the youth, stating that many prefer settling into jobs rather than taking risks. The Prime Minister in response, highlighted the importance of risk-taking capacity and shared that the founder of House of Puchka, at the age of 23, leveraged her ability to take risks and her time effectively to build her business. The beneficiary remarked on the discussions among friends from Raipur, the corporate world, and students, noting their curiosity and questions about entrepreneurship. She further highlighted the lack of awareness among youth regarding government schemes that provide funding without requiring collateral. She expressed gratitude that schemes like Mudra Loan and PMEGP Loan offer significant opportunities for those with potential and encouraged the youth to research these schemes and take bold steps, stating that the sky has no limits for those willing to grow and succeed.
Another beneficiary, Shri Mudassir Naqshbandi, the owner of Bake My Cake in Baramulla, Kashmir, shared his journey of transitioning from being a job seeker to a job creator, adding that he has provided stable employment to 42 individuals from remote areas of Baramulla. The Prime Minister enquired about his earnings before receiving MUDRA loan, to which Mudassir replied that his earnings were in thousands, but his entrepreneurial journey has now elevated him to earning in lakhs and crores. The Prime Minister acknowledged the widespread use of UPI in Mudassir’s business operations. He noted Mudassir’s observation that 90% of transactions are conducted through UPI, leaving only 10% of cash in hand.
The Prime Minister then heard the inspiring journey of Shri Suresh, who transitioned from a job in Vapi to becoming a successful entrepreneur in Silvassa. Suresh said that in 2022, he realized that a job alone would not suffice and decided to start his own business. He added that with my success, some friends are now considering applying for Mudra Loans to start their own ventures. The Prime Minister emphasized the ripple effect of such success stories in motivating others to take bold steps toward entrepreneurship.
A woman entrepreneur from Raebareli, expressed her gratitude for the support extended to MSMEs under his leadership. She remarked on the ease of obtaining licenses and funding, which were previously challenging, and pledged to contribute to building a developed India. The Prime Minister acknowledged her emotional testimony and noted her success in running a bakery business with a monthly turnover of ₹2.5 to ₹3 lakh, providing employment to seven to eight individuals.
Shri Lavkush Mehra from Bhopal, Madhya Pradesh, started his pharmaceutical business in 2021 with an initial loan of ₹5 lakh. Despite initial apprehensions, he expanded his loan to ₹9.5 lakh and achieved a turnover of over ₹50 lakh, up from ₹12 lakh in the first year. The Prime Minister emphasized that the Mudra Yojana is not limited to any specific group but aims to empower the youth to stand on their own feet. He remarked on Lavkush’s recent achievements, including purchasing a house worth ₹34 lakh and earning over ₹1.5 lakh per month, a significant leap from his previous job earning ₹60,000 to ₹70,000. The Prime Minister congratulated him and acknowledged the role of hard work in achieving success. He also urged the beneficiaries to further spread the word to people about the MUDRA loan and its benefits.
The Prime Minister then heard the inspiring journey of a young entrepreneur from Bhavnagar, Gujarat, who founded Aditya Lab at the age of 21. The entrepreneur, a final-year Mechatronics student, successfully utilized a ₹2 lakh Mudra Loan under the Kishor category to start a business in 3D printing, reverse engineering, rapid prototyping, and robotics. The Prime Minister noted the entrepreneur’s dedication, balancing college on weekdays and business operations on weekends, earning ₹30,000 to ₹35,000 monthly while working remotely with support from family.
A woman entrepreneur from Manali shared her story of working in a vegetable market to running a successful business. She said that she started with a ₹2.5 lakh Mudra Loan in 2015-16, which she repaid within two and a half years. With subsequent loans of ₹5 lakh, ₹10 lakh, and ₹15 lakh, she expanded her business from a vegetable shop to a ration shop, achieving an annual income of ₹10 to ₹15 lakh. The Prime Minister commended their determination and the positive impact of the Mudra Yojana in empowering entrepreneurs across the country.
The Prime Minister further heard the inspiring journey of a woman entrepreneur from Andhra Pradesh, who transitioned from being a housewife to running a successful business in jute bags. She remarked that after receiving training at the Rural Self Employment Training Institute in 2019, she secured a ₹2 lakh Mudra Loan from Canara Bank without any collateral. The Prime Minister noted her determination and the bank’s trust in her potential. He acknowledged her dual role as a jute faculty member and entrepreneur, commending her efforts in empowering rural women through employment and skill development. The Prime Minister remarked on the transformative impact of the Mudra Yojana in fostering entrepreneurship and self-reliance.
Prime Minister highlighted the transformative impact of the Mudra Yojana on empowering citizens, particularly women, and fostering entrepreneurship across India. He emphasized how the scheme has provided financial support to individuals from marginalized and economically disadvantaged backgrounds, enabling them to start their own businesses without requiring guarantees or extensive paperwork. Shri Modi remarked on the silent revolution brought about by Mudra Yojana, noting the significant shift in societal attitudes towards entrepreneurship. He underlined that the scheme has empowered women by not only offering financial assistance but also creating opportunities for them to lead and grow their businesses. He pointed out that women are among the highest beneficiaries of the scheme, leading in loan applications, approvals, and swift repayments.
Prime Minister Shri Narendra Modi highlighted the discipline instilled in individuals through responsible utilization of Mudra loans. He remarked that the scheme provides an opportunity to build lives and careers, while discouraging misuse of funds or unproductive efforts. The Prime Minister pointed out that ₹33 lakh crore has been disbursed to the citizens of India under the Mudra Yojana without the need for guarantees. He emphasized that this amount is unprecedented and surpasses any financial support extended to wealthy individuals collectively. He expressed his trust in the nation’s talented youth who have utilized the funds effectively to generate employment and stimulate the economy.
Shri Modi remarked that job creation through Mudra Yojana has significantly contributed to economic growth. He observed that the earnings of common citizens have increased, enabling them to improve their living standards and invest in education for their children. He acknowledged the societal benefits brought by the scheme.
Reflecting on the government’s commitment, the Prime Minister noted that unlike traditional approaches, his administration is actively seeking feedback after 10 years of the scheme’s implementation. He stressed the importance of reviewing the scheme’s progress by consulting beneficiaries and groups nationwide, identifying opportunities for improvement, and implementing necessary reforms for further success.
Highlighting the remarkable confidence displayed by the government in expanding the scope of Mudra loans, which initially ranged from ₹50,000 to ₹5 lakh, to now reaching ₹20 lakh, Shri Modi noted that this expansion reflects the trust placed in the entrepreneurial spirit and capabilities of India’s citizens, which has strengthened through the successful implementation of the scheme.
Emphasising the importance of encouraging others to leverage the Mudra Yojana and start their own ventures, Shri Modi urged individuals to inspire and support at least five to ten others, fostering confidence and self-reliance among them. He highlighted that 52 crore loans have been disbursed under the scheme, a monumental achievement unparalleled globally.
Recalling his tenure in Gujarat, Shri Modi mentioned the “Garib Kalyan Mela,” where motivational street plays inspired people to overcome poverty. He shared an anecdote about individuals surrendering their government benefits after achieving financial independence, showcasing their transformation. He narrated an inspiring story of a tribal group in Gujarat who, with a small loan, transitioned from performing traditional music to forming a professional band. This initiative not only improved their financial status but also highlighted how small efforts can lead to significant changes. He remarked that such stories of transformation inspire him and reflect the potential of collective efforts in nation-building.
Shri Modi reiterated his belief in the Mudra Yojana as a tool to study and address people’s aspirations and circumstances. He expressed confidence in the scheme’s success and urged beneficiaries to give back to society, emphasizing the satisfaction derived from contributing to the community.
The Union Minister of State for Finance, Shri Pankaj Chaudhary was present during the interaction.
Mudra Yojana has given opportunities to countless people to showcase their entrepreneurial skills. Interacted with some of the beneficiaries of the scheme. Their journey is inspiring. #10YearsOfMUDRAhttps://t.co/QcoIK1VTki
Source: Hong Kong Government special administrative region
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA), together with the banking sector, introduced today (April 8) sector-specific support measures to further assist more small and medium-sized enterprises (SMEs) in obtaining bank financing and in their upgrade and transformation. The measures were introduced following meetings held by the Banking Sector SME Lending Coordination Mechanism (Mechanism) and the Taskforce on SME Lending (Taskforce) today.
Since the launch of the “9+5” (Note 1) SME support measures by the HKMA and the banking sector last year, more than 39 000 SMEs have benefitted from these measures, involving an aggregate credit limit of over HK$95 billion. The total amount of dedicated funds for SMEs set aside by the participating banks in the Taskforce in their loan portfolio has increased from HK$370 billion in October 2024 to more than HK$390 billion at present.
With the establishment of the Taskforce in August 2024, the HKMA and the banking sector have been actively strengthening the work of supporting SMEs at both the individual case and the industry levels. Up until the end of March 2025, the Taskforce has received around 590 enquiries and cases from various industries through different channels, of which nearly 90 per cent have been handled. At the industry level, the Taskforce has held more than 160 engagement events with trade associations and representatives from different industry sectors―including the retail and wholesale, import and export and manufacturing, construction, and transport sectors ― to gain a deeper understanding of the operations of SMEs in various industries.
In the light of the current trade tension and uncertainties surrounding the external economic environment, and after taking into account and discussing the views of the commercial sectors in the Mechanism and Taskforce meetings, the banking sector reaffirmed its commitment to actively implement the “9+5” SME support measures previously launched. The banking sector will continue to be accommodative in offering credit reliefs, including flexible repayment arrangements and deferment of repayment period, referencing the principles under the Pre-approved Principal Payment Holiday Scheme, to assist corporates in coping with their liquidity needs. Furthermore, banks will introduce more targeted support for various industries under the overarching principle of prudent risk management:
Import and export and manufacturing sectors: The commercial sectors reflected their concerns about the current global trade frictions during the meeting. The participating banks agree to provide flexible extensions to trade facilities (e.g. 90 or 120 days), or offer alternative suitable credit arrangements (such as repaying the trade loans by instalments, providing partial principal repayment options, or even offering principal moratorium), to assist individual customers experiencing short-term cashflow pressure due to trade frictions. The Mechanism and the Taskforce will closely monitor the latest developments regarding global tariff disputes and maintain dialogue with the import and export and manufacturing sectors.
Construction sector: The participating banks will assist corporates facing cashflow pressure, particularly subcontractors in the construction sector that may be experiencing sudden cashflow pressure due to capital chain rupture, through a collaborative mechanism. The banks will collaboratively offer flexible financial arrangements as far as practicable to alleviate customers’ cashflow pressure.
Transport sector: The participating banks will actively consider introducing financing products that are better suited to the transport sector, with a view to supporting the Government’s implementation of measures to enhance taxi services. The banks will offer more flexible repayment arrangements to assist customers in coping with operational challenges, taking into account individual circumstances. The banks will also consider correspondingly extending the loan tenor to support the development of the sector (Note 2).
​ Furthermore, the HKMA and the banking sector will support the economic development of Hong Kong in other areas, including:
Lease extension: The banking sector will strengthen the promotion of the Extension of Government Leases Ordinance (the Ordinance) (Note 3). Banks will ensure that frontline staff are familiar with land lease extension matters under the Ordinance, so that they can properly address customers’ mortgage enquiries related to land leases and offer suitable services to them.
Northern Metropolis development: With the HKMA’s facilitation, the Hong Kong Association of Banks and the Chinese Banking Association of Hong Kong have recently engaged with the Development Bureau to gain an understanding of the latest development of the Northern Metropolis. The banking sector will explore ways to provide suitable financing support to tie in with the Government’s implementation of large-scale land disposal and other developments.
The HKMA and the banking sector will maintain close communication with the commercial sectors through the Mechanism and the Taskforce and work in concert to support the business development and transformation of SMEs.
Background ————–
The Banking Sector SME Lending Coordination Mechanism
The Banking Sector SME Lending Coordination Mechanism was established by the HKMA in October 2019. Participants include 11 banks (Note 4) that are most active in SME lending, the Hong Kong Association of Banks (HKAB) and the HKMC Insurance Limited. Since its establishment, the HKMA and the Mechanism have rolled out several rounds of relief measures for corporates, including the Pre-approved Principal Payment Holiday Scheme and the nine SME support measures launched in March 2024.
The Taskforce on SME Lending
The Taskforce on SME Lending was jointly established by the HKMA and HKAB in August 2024. Participants include representatives of the HKMA, HKAB and 18 banks (Note 5) that are active in SME lending. The Taskforce aims to further strengthen the related work for supporting SMEs at both the individual case and the industry levels. These include setting up a mechanism to handle individual cases of SMEs encountering difficulties when obtaining bank financing, working out appropriate solutions across banks and enhancing communication among the HKMA, the banking industry and the commercial sector so as to understand the financing needs of SMEs in a more timely manner.
Note 1: The HKMA and the banking sector introduced nine measures to support SMEs’ access to financing and continuous development in March 2024, and another five measures to support SMEs’ upgrade and transformation in October 2024.
Note 2: The above-mentioned arrangements are also applicable to taxi loans, public light bus loans and commercial vehicle loans taken out by personal customers.
Note 3: Under the Ordinance, which came into effect on July 5, 2024, general purpose leases (i.e. general residential, commercial, industrial leases) will be extended upon expiry for a term of 50 years without payment of any additional premium, but subject to an annual payment of Government rent at 3 per cent of rateable value. The encumbrances, interests and rights under the original lease (such as mortgages) will be carried forward to the extended lease term without being affected, and owners are no longer required to execute lease extension documents with the Government or re-arrange mortgages. The Ordinance is not applicable to special purpose leases (SPL) (including purposes such as petrol filling station, education, recreation, public utility, welfare and special industries). The Lands Department has made an “SPL identification note” in the Land Registry register for SPLs for identification.
Note 4: Bank of China (Hong Kong), Bank of East Asia, China Construction Bank (Asia), Citibank, Dah Sing Bank, DBS Bank (Hong Kong), Hang Seng Bank, The Hongkong and Shanghai Banking Corporation, Industrial and Commercial Bank of China (Asia), OCBC Bank (Hong Kong), and Standard Chartered Bank (Hong Kong).
Note 5: Including the 11 banks participating in the Mechanism, and Bank of Communications (Hong Kong), China CITIC International, Fubon Bank (Hong Kong), Fusion Bank, Nanyang Commercial Bank, PAO Bank and Shanghai Commercial Bank.