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Category: Transport

  • MIL-OSI: Form 8.3 – [ALLIANCE PHARMA PLC – 12 02 2025] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 ALLIANCE PHARMA PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 12 FEBRUARY 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 1p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 12,245,709 2.2654    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 12,245,709 2.2654    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    1p ORDINARY SALE 7,373 61.4084p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 13 FEBRUARY 2025
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI Economics: RBI imposes monetary penalty on The Mumbai Mahanagarpalika Shikshan Vibhag Sahakari Bank Ltd., Mumbai

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has, by an order dated February 11, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Mumbai Mahanagarpalika Shikshan Vibhag Sahakari Bank Ltd., Mumbai (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

    The statutory inspection of the bank was conducted by RBI with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice and oral submissions made during the personal hearing, RBI found, inter alia, that the following charge against the bank was sustained, warranting imposition of monetary penalty:

    The bank had failed to carry out periodic review of risk categorisation of accounts at least once in six months.

    This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2149

    MIL OSI Economics –

  • MIL-Evening Report: Eugene Doyle: Will New Zealand invade the Cook Islands to stop China? Seriously

    Report by Dr David Robie – Café Pacific. –

    The New Zealand government and the mainstream media have gone ballistic (thankfully not literally just yet) over the move by the small Pacific nation to sign a strategic partnership with China in Beijing this week.

    It is the latest in a string of island nations that have signalled a closer relationship with China, something that rattles nerves and sabres in Wellington and Canberra.

    The Chinese have politely told the Kiwis to back off.  Foreign Ministry spokesperson Guo Jiakun told reporters that China and the Cook Islands have had diplomatic relations since 1997 which “should not be disrupted or restrained by any third party”.

    “New Zealand is rightly furious about it,” a TVNZ Pacific affairs writer editorialised to the nation. The deal and the lack of prior consultation was described by various journalists as “damaging”, “of significant concern”, “trouble in paradise”, an act by a “renegade government”.

    Foreign Minister Winston Peters, not without cause, railed at what he saw as the Cook Islands government going against long-standing agreements to consult over defence and security issues.

    “Should New Zealand invade the Cook islands?” . . . New Zealand Herald columnist Matthew Hooton’s view in an “oxygen-starved media environment” amid rattled nerves. Image: New Zealand Herald screenshot APR

    ‘Clearly about secession’
    Matthew Hooton, who penned the article in The Herald, is a major commentator on various platforms.

    “Cook Islands Prime Minister Mark Brown’s dealings with China are clearly about secession from the realm of New Zealand,” Hooton said without substantiation but with considerable colonial hauteur.

    “His illegal moves cannot stand. It would be a relatively straightforward military operation for our SAS to secure all key government buildings in the Cook Islands’ capital, Avarua.”

    This could be written off as the hyperventilating screeching of someone trying to drum up readers but he was given a major platform to do so and New Zealanders live in an oxygen-starved media environment where alternative analysis is hard to find.

    The Cook Islands, with one of the largest Exclusive Economic Zones in the world — a whopping 2 million sq km — is considered part of New Zealand’s backyard, albeit over 3000 km to the northeast.  The deal with China is focused on economics not security issues, according to Cooks Prime Minister Mark Brown.

    Deep sea mining may be on the list of projects as well as trade cooperation, climate, tourism, and infrastructure.

    The Cook Islands seafloor is believed to have billions of tons of polymetallic nodules of cobalt, copper, nickel and manganese, something that has even caught the attention of US Secretary of State Marco Rubio. Various players have their eyes on it.

    Glen Johnson, writing in Le Monde Diplomatique, reported last year:

    “Environmentalists have raised major concerns, particularly over the destruction of deep-sea habitats and the vast, choking sediment plumes that excavation would produce.”

    All will be revealed
    Even Cook Island’s citizens have not been consulted on the details of the deal, including deep sea mining.  Clearly, this should not be the case. All will be revealed shortly.

    New Zealand and the Cook Islands have had formal relations since 1901 when the British “transferred” the islands to New Zealand.  Cook Islanders have a curious status: they hold New Zealand passports but are recognised as their own country. The US government went a step further on September 25, 2023. President Joe Biden said:

    “Today I am proud to announce that the United States recognises the Cook Islands as a sovereign and independent state and will establish diplomatic relations between our two nations.”

    A move to create their own passports was undermined by New Zealand officials who successfully stymied the plan.

    New Zealand has taken an increasingly hostile stance vis-a-vis China, with PM Luxon describing the country as a “strategic competitor” while at the same time depending on China as our biggest trading partner.  The government and a compliant mainstream media sing as one choir when it comes to China: it is seen as a threat, a looming pretender to be South Pacific hegemon, replacing the flip-flopping, increasingly incoherent USA.

    Climate change looms large for island nations. Much of the Cooks’ tourism infrastructure is vulnerable to coastal inundation and precious reefs are being destroyed by heating sea temperatures.

    “One thing that New Zealand has got to get its head round is the fact that the Trump administration has withdrawn from the Paris Climate Accord,” Dr Robert Patman, professor of international relations at Otago University, says. “And this is a big deal for most Pacific Island states — and that means that the Cook Islands nation may well be looking for greater assistance elsewhere.”

    Diplomatic spat with global coverage
    The story of the diplomatic spat has been covered in the Middle East, Europe and Asia.  Eyebrows are rising as yet again New Zealand, a close ally of Israel and a participant in the US Operation Prosperity Guardian to lift the Houthi Red Sea blockade of Israel, shows its Western mindset.

    Matthew Hooton’s article is the kind of colonialist fantasy masquerading as geopolitical analysis that damages New Zealand’s reputation as a friend to the smaller nations of our region.

    Yes, the Chinese have an interest in our neck of the woods — China is second only to Australia in supplying much-needed development assistance to the region.

    It is sound policy not insurrection for small nations to diversify economic partnerships and secure development opportunities for their people. That said, serious questions should be posed and deserve to be answered.

    Geopolitical analyst Dr Geoffrey Miller made a useful contribution to the debate saying there was potential for all three parties to work together:

    “There is no reason why New Zealand can’t get together with China and the Cook Islands and develop some projects together,” Dr Miller says. “Pacific states are the winners here because there is a lot of competition for them”.

    I think New Zealand and Australia could combine more effectively with a host of South Pacific island nations and form a more effective regional voice with which to engage with the wider world and collectively resist efforts by the US and China to turn the region into a theatre of competition.

    We throw the toys out
    We throw the toys out of the cot when the Cooks don’t consult with us but shrug when Pasifika elders like former Tuvalu PM Enele Sopoaga call us out for ignoring them.

    In Wellington last year, I heard him challenge the bigger powers, particularly Australia and New Zealand, to remember that the existential threat faced by Pacific nations comes first from climate change. He also reminded New Zealanders of the commitment to keeping the South Pacific nuclear-free.

    To succeed, a “Pacific for the peoples of the Pacific” approach would suggest our ministries of foreign affairs should halt their drift to being little more than branch offices of the Pentagon and that our governments should not sign up to US Great Power competition with China.

    Ditching the misguided anti-China AUKUS project would be a good start.

    Friends to all, enemies of none. Keep the Pacific peaceful, neutral and nuclear-free.

    Eugene Doyle is a community organiser and activist in Wellington, New Zealand. He received an Absolutely Positively Wellingtonian award in 2023 for community service. His first demonstration was at the age of 12 against the Vietnam War. This article was first published at his public policy website Solidarity and is republished here with permission.

    This article was first published on Café Pacific.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI NGOs: Myanmar: Recklessly abrupt US aid stoppage poses existential threat to human rights

    Source: Amnesty International –

    The United States government’s abrupt and sweeping freeze on foreign aid is severely imperiling the human rights of refugees, civilians in armed conflict areas and individuals fleeing persecution in Myanmar, Amnesty International said today.

    The organization warned that lives could be lost unless the decision is urgently reversed, amended or if waivers for life-saving assistance are not immediately granted and swiftly implemented for those working on the ground.

    “The Trump administration’s cruel decision to issue immediate stop work orders on foreign aid is having an instant and devastating impact across the globe, and in Myanmar it is hitting people at a particularly dark hour,” said Amnesty International’s Myanmar Researcher Joe Freeman.

    “The decision has abruptly shut down hospitals in refugee camps, put fleeing human rights defenders at risk of deportation and imperiled programs helping people prevent atrocities, survive in conflict zones and rebuild their lives amid ongoing waves of violence.”

    On 20 January, US President Donald Trump signed a presidential executive order pausing all foreign aid amid a 90-day review of whether it is consistent with American foreign policy. On 24 January, US Secretary of State Marco Rubio issued a stop work order to those delivering assistance worldwide as part of the review, but carved out exemptions to the pause for emergency food assistance, as well as military aid to Israel and Egypt.

    An additional waiver dated 28 January exempted “life-saving humanitarian assistance” from the stoppage, while follow-up clarifications in the first week of February broadened the exemptions for specific activities. However, based on Amnesty’s latest research, implementation of these waivers has yet to trickle down to many organizations working along the Thai-Myanmar border. 

    “The US government’s shocking move has had immediate global impacts whose real-life consequences are still being felt and understood. Our findings from Myanmar and Thailand provide just one example of the damage wrought by this heartless decision,” Joe Freeman said.

    In Myanmar, the funding pause has further devastated a civilian population already enduring escalating armed conflict, widespread displacement and severe human rights violations by a military that seized power in a coup more than four years ago. It has also sowed chaos, desperation and anguish among tens of thousands of Myanmar refugees living in Thailand.

    The US is effectively giving the rights-abusing Myanmar military an invaluable gift in their crackdown on freedom of expression

    To date, US funding has helped many endure the upheaval by supporting emergency shelter or relocation for activists, delivering food aid, helping create early-warning systems for air strikes, delivering medical treatment in war zones and providing education opportunities to those who have lost all hope of a future.

    From 3-10 February, Amnesty International spoke to 12 Myanmar refugees living in camps along the border in Thailand, along with representatives from 14 organizations with Myanmar-focused activities. They include health workers, human rights researchers and NGOs providing cross-border assistance as well as media and education providers. All warned of severe consequences if the decision was not reversed or amended. Not one had received a communication or confirmation of a waiver from the US government to continue operations.

    MIL OSI NGO –

  • MIL-OSI Video: Cam Hamilton PSA for Communities Impacted by the LA Wildfires

    Source: United States of America – Federal Government Departments (video statements)

    FEMA teams are on the ground providing support to those that are impacted from the Los Angeles wildfires. If you need help, visit disasterassistance.gov or call 1-800-621-3362 to learn more about all the resources that are available.

    Stay safe & take care of each other.

    https://www.youtube.com/watch?v=WYMP1bKYqT4

    MIL OSI Video –

  • MIL-OSI United Kingdom: Statement on Northbrook House and Windale House

    Source: City of Oxford

    Northbrook House and Windale House were originally built in the 1960s as sheltered accommodation and are two of the oldest schemes now used for over-60s housing.  

    We told residents in 2018 our long-term plans were to demolish both buildings and redevelop the sites for new council homes. 

    The condition of both buildings is deteriorating, including lifts and communal areas. While neither is yet at the end of its viable life, both blocks would require substantial and subsequent ongoing investment to prolong their current use. 

    The blocks do not meet modern design and accessibility standards. Some homes are bedsits which we have been phasing out across our housing as they are no longer popular housing options. It also means they are not big enough for a wet room and their doors are not wide enough to provide wheelchair access. 

    It would not be possible to bring Northbrook House and Windale House up to modern accessibility standards – including wheelchair access, bathroom design and adaptable kitchen layouts – without demolishing and rebuilding them.  

    The housing crisis 

    Northbrook House and Windale House are currently designated as housing for the over-60s, with areas like communal lounges built to 1960s requirements. In 2025, many people over the age of 60 don’t want to live in that type of communal setting and this is reflected in lower demand for this type of housing. 

    We have a number of blocks of flats for the over-60s and the waiting period is often just a few months. In contrast, most people wait years for general needs council housing and there is no guarantee of a council home however long you spend on the list. 

    In the last few years, the cost of living, record private rent rises and the delay in delivering a ‘no fault’ eviction ban first promised in 2019 have fuelled a sharp rise in homelessness in Oxford and across the country. 

    We are dealing with spiralling demand for temporary accommodation for people who become homeless in Oxford. In January alone, we provided temporary accommodation for a further 63 households. We have had to house more than 120 households in bed and breakfast or budget hotels as there is not enough temporary housing available. 

    There are more than 3,500 people on the housing register waiting for a settled home.  

    It would be better for us to invest our limited resources in meeting these urgent needs than in temporarily extending the life of both blocks in a piecemeal and increasingly expensive way. 

    Supporting people to move to a suitable new home 

    We met with tenants at both blocks on Monday 3 February to discuss our plans and address concerns about their future. While some people had understandable concerns about the upheaval this would mean, many residents took up our offer of one-to-one conversations about the support available to help them move. 

    We will support everyone to move to in a responsible, planned way, ensuring their new home is suitable and meets their needs.  

    This means somewhere with the same or similar secure tenancy rights and is therefore likely to be a council or housing association home through our transfer list. 

    Two officers are providing onsite specialist support to help people move. Residents will be given high priority to bid for a new home of their choice and supported through every stage of the process. 

    All residents will receive a statutory Home Loss payment and we will provide extra financial and practical help with packing, moving and fitting out their new homes.  

    Where people need support with other options like extra care housing, we will arrange this. 

    What happens next? 

    We aim to help everybody move out of Northbrook House and Windale House by the end of April 2026.  

    When both blocks are empty – and not before – we will put them to meanwhile use as temporary accommodation while we make plans to redevelop the sites for new council homes. 

    Who gets housed in temporary accommodation? 

    We provide temporary accommodation to people who become homeless in Oxford – for example, because of a ‘no fault’ eviction from a private rented tenancy.  

    With very few exceptions, we can only offer temporary accommodation to people with a local connection. This usually means they must live in or have a recent history of living in Oxford, have a job here or close family in the city.  

    People in asylum hotels are the responsibility of the Home Office, which provides them with accommodation.  

    Oxford City Council is not legally allowed to provide asylum seekers with temporary accommodation or a council tenancy. 

    Northbrook House and Windale House will not be used by the Home Office. 

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Marathon test event plans set

    Source: Hong Kong Information Services

    Police announced today that they will implement special traffic arrangements in view of the 2025 Shenzhen-Hong Kong marathon and the 15th National Games athletics (marathon) test event to be held in the two cities on February 23.

     

    Clearance services at Shenzhen Bay Port will be suspended until about 11am on that day.

     

    Moreover, temporary control measures will be implemented at Shenzhen Bay Bridge, Kong Sham Western Highway and Ha Tsuen Interchange from 2am to about 11am. These will be closed to all traffic from eastbound and westbound Yuen Long Highway, and Ha Tsuen Road.

     

    During the suspension of clearance services, cross-boundary goods vehicles and private cars holding valid permits for Shenzhen Bay Port may divert to Lok Ma Chau/Huanggang Port, Man Kam To Port and Heung Yuen Wai Port.

     

    After Shenzhen Bay Port’s clearance services have resumed, traffic arrangements will be implemented by phases, depending on actual conditions, Police added.

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: NASA’s Polar Ice Experiment Paves Way for Future Moon Missions 

    Source: NASA

    NASA’s Polar Resources Ice Mining Experiment-1 (PRIME-1) is preparing to explore the Moon’s subsurface and analyze where lunar resources may reside. The experiment’s two key instruments will demonstrate our ability to extract and analyze lunar soil to better understand the lunar environment and subsurface resources, paving the way for sustainable human exploration under the agency’s Artemis campaign for the benefit of all. 
    Its two instruments will work in tandem: The Regolith and Ice Drill for Exploring New Terrains (TRIDENT) will drill into the Moon’s surface to collect samples, while the Mass Spectrometer Observing Lunar Operations (MSOLO) will analyze these samples to determine the gas composition released across the sampling depth. The PRIME-1 technology will provide valuable data to help us better understand the Moon’s surface and how to work with and on it. 
    “The ability to drill and analyze samples at the same time allows us to gather insights that will shape the future of lunar resource utilization,” said Jackie Quinn, PRIME-1 project manager at NASA’s Kennedy Space Center in Florida. “Human exploration of the Moon and deep space will depend on making good use of local resources to produce life-sustaining supplies necessary to live and work on another planetary body.” 
    The PRIME-1 experiment is one of the NASA payloads aboard the next lunar delivery through NASA’s CLPS (Commercial Lunar Payload Services) initiative, set to launch from the agency’s Kennedy Space Center no earlier than Wednesday, Feb. 26, on Intuitive Machines’ Athena lunar lander and explore the lunar soil in Mons Mouton, a lunar plateau near the Moon’s South Pole. 

    [embedded content]

    Developed by Honeybee Robotics, a Blue Origin Company, TRIDENT is a rotary percussive drill designed to excavate lunar regolith and subsurface material up to 3.3 feet (1 meter) deep. The drill will extract samples, each about 4 inches (10 cm) in length, allowing scientists to analyze how trapped and frozen gases are distributed at different depths below the surface.  
    The TRIDENT drill is equipped with carbide cutting teeth to penetrate even the toughest lunar materials. Unlike previous lunar drills used by astronauts during the Apollo missions, TRIDENT will be controlled from Earth. The drill may provide key information about subsurface soil temperatures as well as gain key insight into the mechanical properties of the lunar South Pole soil. Learning more about regolith temperatures and properties will greatly improve our understanding of the environments where lunar resources may be stable, revealing what resources may be available for future Moon missions.  
    A commercial off-the-shelf mass spectrometer, MSOLO, developed by INFICON and made suitable for spaceflight at Kennedy, will analyze any gas released from the TRIDENT drilled samples, looking for the potential presence of water ice and other gases trapped beneath the surface. These measurements will help scientists understand the Moon’s potential for resource utilization. 
    Under the CLPS model, NASA is investing in commercial delivery services to the Moon to enable industry growth and support long-term lunar exploration. As a primary customer for CLPS deliveries, NASA is one of many customers on future flights. PRIME-1 was funded by NASA’s Space Technology Mission Directorate Game Changing Development program. 
    Learn more about CLPS and Artemis at: 
    https://www.nasa.gov/clps

    MIL OSI USA News –

  • MIL-OSI USA: Animal Welfare, Testing and Research of FDA-Regulated Products

    Source: US Food and Drug Administration

    Medical and veterinary products save lives every day. FDA-regulated products such as blood pressure medicine, chemotherapy and MRI machines help people and animals live longer and healthier.

    The U.S. Food and Drug Administration regulates human and animal medical products to ensure they are safe and effective. Products undergo different types of testing to determine their safety and effectiveness. These tests may include animal testing, and they almost always include other types of tests.

    Here are some facts about animal testing and their alternatives.

    Using Scientifically Valid Alternatives to Animal Testing

    The FDA encourages and accepts scientifically valid alternatives to animal testing. But validated alternatives to animal testing are not available yet for many medical products.

    Product developers must show the FDA that a medical product is reasonably likely to be safe for testing in people. Only scientifically reliable and validated test methods can be used to show product safety before testing in people.

    These types of tests are generally referred to as nonclinical tests. There are many types of nonclinical testing. They include:

    • Laboratory tests in a petri dish or test tube, which may include tests with human or animal cells and tissues (in-vitro testing).
    • Computer modeling (in-silico testing).
    • Animal testing (in-vivo testing).

    Testing a product with people is called clinical testing, also known as clinical investigation or clinical trials. A product developer collects scientific information from nonclinical testing to show that clinical testing in people is likely to be safe. After the nonclinical testing phase, the FDA may authorize the product developer to conduct clinical testing.

    Product developers determine which types of tests they will conduct, in consultation with the FDA, and can use alternative methods to animal testing. They often conduct animal testing at some stage of the product development process because scientifically valid alternatives to animal testing are not available yet.

    FDA Supports Developing Alternatives to Animal Testing

    The FDA encourages industry efforts to develop and use alternative methods to test the safety of FDA-regulated products. Before researchers use animals for testing, they should consider using scientifically valid alternatives. The FDA has provided guidance to product developers on alternative methods in specific circumstances.

    Although a few specific areas have established validated non-animal test methods (for example, skin irritation for dermal products), there are many areas for which alternative testing methods do not exist yet or have not been validated.

    Because the body is a highly complex, biological living system that is difficult to replicate in a testing environment, alternative testing methods cannot always predict side effects and safety concerns. Scientists must do more research and validation on alternative testing methods before the procedures can be routinely and more broadly used.

    FDA scientists are working together to help in the development of alternatives to animal testing and build confidence in reliability of alternative methods. The FDA is strongly committed to:

    • Reducing the use of animal testing.
    • Replacing animal testing with alternative methods when they are available.
    • Refining animal testing so that the maximum amount of scientific information can be humanely collected with the minimum number of animals.

    These priorities – replace, reduce and refine – are known as the “3Rs,” and they guide the FDA in our commitment to alternatives to animal testing.

    Scientists at the FDA are working together, and with industry partners, to advance the development and adoption of alternatives to animal testing. For most products under development, there currently aren’t testing methods that can replace animal testing entirely. Researchers and scientists in many areas must do a lot more studies and development to create valid alternative methods.

    Federal Laws on the Treatment of Test or Research Animals

    Scientists who conduct research with animals must follow the applicable laws, regulations and standards regarding the treatment and care of animals used in research and testing.

    These include:

    In all cases where animal studies are used, the FDA advocates that research and testing results in the maximum amount of useful scientific information from the minimum number of animals while using the most humane and scientifically valid methods available.

    The FDA supports the transfer, adoption or retirement of research or testing animals, when possible. But the FDA does not own animals used by other organizations, such as product developers and manufacturers, in animal testing and does not control their placement after study.

    The FDA shares any concerns about test or research animal welfare with the federal agencies and offices that regulate and enforce standards of animal treatment and care, including the USDA and OLAW.

    MIL OSI USA News –

  • MIL-OSI USA: Governor Newsom announces appointments 2.12.25

    Source: US State of California 2

    Feb 12, 2025

    Kate Hoit, of Sacramento, has been appointed Deputy Secretary of Communications at the California Department of Veterans Affairs. Hoit has been the PACT Act Enterprise Program Management Office Communications and Outreach Lead at the U.S. Department of Veterans Affairs since 2023. She was a Communications Lead in the Veteran Experience Office, U.S. Department of Veterans Affairs from 2021 to 2023. Hoit was the California State Director at the Vet Voice Foundation from 2018 to 2021. She was the Military Marketing Manager at National University from 2017 to 2018. Hoit was the Director of Content and Communications at Got Your 6 from 2014 to 2017. She was a Public Affairs Specialist at the U.S. Department of Veterans Affairs from 2011 to 2014. Hoit served in the U.S. Army Reserve from 2001 to 2009. She is a Pat Tillman Scholar and a member of the Truman National Security Project. She earned her Master of the Arts Degree in Non-Fiction Writing from Johns Hopkins University, and a Bachelor of the Arts in Journalism from the University at Albany, State University of New York. This position does not require Senate confirmation, and the compensation is $154,860. Hoit is a Democrat.

    Shaun Spillane, of Gold River, has been appointed Chief Deputy Inspector General at the Office of the Inspector General, where he has been Chief Counsel since 2023, and was Attorney IV from 2013 to 2023. Spillane was Labor Relations Counsel II at the California Department of Human Resources from 2009 to 2013. He was a Graduate Student Assistant in the Office of the Inspector General from 2007 to 2009. Spillane earned a Juris Doctor degree from the University of the Pacific, McGeorge School of Law and a Bachelor of Arts degree in Psychology from the University of Michigan. This position does not require Senate confirmation, and the compensation is $201,972. Spillane is registered without party preference.

    Michael “Mike” Detoy, of Hermosa Beach, has been appointed to the California Public Employees’ Retirement System Board of Administration. Detoy has been Councilmember and Mayor of the City of Hermosa Beach since 2019. He has been Fire Captain for the City of Riverside since 2011. Detoy is President of the Riverside City Firefighters Association. He earned a Master of Public Administration degree from California Baptist University and a Bachelor of Science degree in Finance from Santa Clara University. This position does not require Senate confirmation, and the compensation is $100 per diem. Detoy is a Democrat.

    Christopher Gonder, of Brawley, has been appointed to the Commission on Correctional Peace Officer Standards and Training. Gonder has been a Correctional Officer at the California Department of Corrections and Rehabilitation since 2016. He is the Vice President of the California Correctional Peace Officers Association, Calipatria Chapter and President of the Chicano Correctional Workers Association, Calipatria Chapter. This position does not require Senate confirmation, and there is no compensation. Gonder is registered without party preference.

    Hellen Hong, of Los Angeles, has been reappointed to the Civil Rights Council, where she has served since 2021. Hong has been Chief Executive Officer at CalBar Connect since 2020. She was the Director at the Office of Access and Inclusion at the State Bar of California from 2019 to 2020. Hong held multiple executive positions at First Place for Youth from 2014 to 2019. She was the Executive Director of the Los Angeles Center for Law and Justice from 2007 to 2014. Hong was a Public Interest Attorney from 2004 to 2007. She was Assistant Director of State Government Relations at the University of California from 2002 to 2004. Hong earned her Juris Doctor degree from Loyola Law School. This position requires Senate confirmation, and the compensation is $100 per diem. Hong is a Democrat

    Hugh Crooks, of Los Angeles, has been reappointed to the California Veterans Board, where he has served since 2017. Crooks was a Human Resources Operations Manager at the Los Angeles County Registrar-Recorder/County Clerk from 2000 to 2005. Crooks was Head of Administrative and Facility Services at the Los Angeles County Museum of Natural History from 1991 to 2000. He was Safety Police Chief III for the Protective Services Division at the Los Angeles County Safety Police from 1969 to 1991. Crooks was a Rifleman in the U.S. Army from 1967 to 1969. He is a member of the Veterans of Foreign Wars, 9th Infantry Division Society, and the Los Angeles County Sheriff’s Advisory Group. Crooks was a National Executive Committeeman and Chief Financial Officer of the American Legion, Department of California. This position requires Senate confirmation, and the compensation is $100 per diem. Crooks is a Democrat. 

    Press Releases, Recent News

    Recent news

    Feb 11, 2025

    News SACRAMENTO – Governor Gavin Newsom today announced the following appointments:Karen Morrison, of Sacramento, has been appointed Director at the California Department of Pesticide Regulation. Morrison has held multiple positions at the Department of Pesticide…

    Feb 11, 2025

    News What you need to know: Across all of state government, highly-specialized personnel and response equipment are on the ground working to protect communities statewide from storm impacts.  Los Angeles, California – With another significant winter storm system…

    Feb 11, 2025

    News What you need to know: Governor Gavin Newsom issued an executive order today ordering the state to ensure that childcare providers impacted by the recent wildfires in Los Angeles are aware of their potential eligibility for Disaster Unemployment Assistance and…

    MIL OSI USA News –

  • MIL-OSI USA: 2025-23 DEPARTMENT OF THE ATTORNEY GENERAL HOSTS FIRST EVER ONLINE ASSET FORFEITURE AUCTION

    Source: US State of Hawaii

    2025-23 DEPARTMENT OF THE ATTORNEY GENERAL HOSTS FIRST EVER ONLINE ASSET FORFEITURE AUCTION

    Posted on Feb 12, 2025 in Latest Department News, Newsroom

    STATE OF HAWAIʻI

    KA MOKU ʻĀINA O HAWAIʻI

     

    DEPARTMENT OF THE ATTORNEY GENERAL

    KA ʻOIHANA O KA LOIO KUHINA

     

    JOSH GREEN, M.D.
     GOVERNOR

    KE KIAʻĀINA

     

    ANNE LOPEZ

    ATTORNEY GENERAL

    LOIO KUHINA

    DEPARTMENT OF THE ATTORNEY GENERAL HOSTS FIRST EVER ONLINE ASSET FORFEITURE AUCTION

    News Release 2025-23

    FOR IMMEDIATE RELEASE                                               

    February 12, 2025

    HONOLULU –The Department of the Attorney General, Civil Recoveries Division’s Asset Forfeiture Program is conducting a live, online auction beginning February 18. It is the first time Hawaiʻi is staging an online auction for this program.

    “Prior to the COVID pandemic, we previously held live auctions quarterly at the Blaisdell Center,” said Asset Forfeiture Program Manager Kern Nishioka. “While online auctions are not a new idea, the launch of our auction website is a first for our office.”

    The initial selection is primarily cars and trucks. Other items for sale include a commercial fishing boat and trailer, and Morgan silver dollar coins. The department’s Auction Items Preview page has a list of the cars, trucks and SUVs that will be featured in the upcoming live online auction.

    The first items will go live on the department’s online auction page starting at 3 p.m. on February 18. Listings will be added as they become available. Auction closure dates will vary between items.

    To participate in the online auction, a free eHawaii.gov account is required. Participants must be 18 and over. To register, and for more information on the requirements/restrictions and how to place bids, go to the department’s online auction page as well as the Department of the Attorney General’s Asset Forfeiture Program page. 

    The proceeds generated from auctions are used to fund law enforcement activities such as training and equipment, as well as to support program expenses.

    # # #

     

    Access to the Auction Car Dropbox video album is here – Auction Cars Video

     

    Media contacts:

    Dave Day

    Special Assistant to the Attorney General

    Office: 808-586-1284                                                  

    Email: [email protected]        

    Web: http://ag.hawaii.gov

    Toni Schwartz

    Public Information Officer

    Hawai‘i Department of the Attorney General

    Office: 808-586-1252

    Cell: 808-379-9249

    Email: [email protected] 

    Web: http://ag.hawaii.gov

    MIL OSI USA News –

  • MIL-OSI USA: Researchers Unlock New Potential Porcine Virus Treatment

    Source: US State of Connecticut

    UConn researchers have identified a novel small molecule for the development of preventative treatment for a serious and costly disease in pigs.

    Porcine reproductive and respiratory syndrome virus (PRRSV) costs an estimated $1.2 billion annually in the U.S. In Europe, the estimated yearly loss is €1.5 billion. The virus causes respiratory disease in piglets, and miscarriages or stillbirths in sows.

    There is currently no effective vaccine or treatment for PRRSV. Some scientists are working on genetically modified pigs to block viral infection, but this strategy will take decades to have a measurable impact.

    Researchers from the College of Agriculture, Health and Natural Resources have identified a small molecule that can successfully disable the virus’ mechanisms for reproducing and evading the host organism’s immune system.

    They published these findings in the Journal of Virology. Jiaqi Zhu ‘23 (CAHNR), is the first author on this paper. UConn collaborators include Xiuchun “Cindy” Tian, professor of animal science; Antonio Garmendia, professor of pathobiology and veterinary science; Neha Mishra, associate professor of pathobiology and veterinary science, and Kyle Hadden, professor of pharmaceutical science.

    This work is a collaboration between UConn and Northwest A&F University in China, where Young Tang, former UConn associate professor, is currently faculty.

    The researchers began this work by using artificial intelligence to screen a bank of small molecules to identify which ones might be good candidates. The algorithm compared the structure of the viral protein the researchers wanted to target against those of the small molecules.

    They then narrowed their results down to a single chemical that could inhibit the virus without producing toxic effects.

    The researchers targeted a protein called NendoU. This protein is highly conserved, meaning that when the virus mutates, this protein will likely stay the same because it plays such an essential role in the virus’ ability to reproduce.

    The researchers found that the number of viral particles in cells treated with the small molecule was more than 1,000 times fewer than the untreated control group.

    “Basically, the virus comes into the untreated cell and uses the cell’s machinery to amplify and create more viruses,” Tian says. “So, if you treat the cells with this particular chemical, compared to untreated cells, it’s going to reduce it by 1,000 times in terms of viral number.”

    NendoU is also common across other closely related viruses.

    “We were thinking this [chemical] could also work on other viruses in this order,” Zhu says. “So, we tested it on another virus called chicken infectious bronchitis virus and it also worked very well.”

    COVID-19 belongs to the same viral family as PRRSV. This means that even though PRRSV is not a risk to human health, this research could have applications for human anti-viral drug development.

    These findings build on previous work from this group in which, in collaboration with technology enabled pharmaceutical company, Atomwise Inc., they identified a different chemical that disrupts the virus’ ability to enter the host cell.

    “By shutting the door for viral entry and inhibiting those that are already in the cells, we could combine these two small molecules in the future, and potentially have a stronger, and synergistic effect on disease control,” says Tian.

    The researchers are working with UConn’s Technology Commercialization Services (TCS) to advance the development and commercialization of this technology. Engaging with TCS early on, they protected their intellectual property and developed a strategic commercialization plan. As part of these efforts, TCS facilitated one-on-one meetings with five of the world’s ten largest animal healthcare companies, along with multiple other organizations interested in the technology.

    “We have received amazing interest from industry, and the feedback has been extremely helpful, setting up the development path of the technology,” says Ana Fidantsef, industry liaison with TCS. “We hope these interactions will lead to collaborations that will immensely help the swine market and industry.”

    This work relates to CAHNR’s Strategic Vision area focused on Ensuring a Vibrant and Sustainable Agricultural Industry and Food Supply.

    Follow UConn CAHNR on social media

    MIL OSI USA News –

  • MIL-OSI: Twelve Capital and Securis complete merger to create a leader in Insurance-Linked Securities (ILS)

    Source: GlobeNewswire (MIL-OSI)

    ZURICH and LONDON, Feb. 13, 2025 (GLOBE NEWSWIRE) — Twelve Capital and Securis Investment Partners have completed the final steps of the merger, establishing Twelve Securis as a global leader in the field of Insurance-Linked Securities (ILS). This strategic move unites a wealth of expertise, complementary skill sets, and a shared dedication to innovation in insurance investment.

    With USD 8.5 billion in assets under management, Twelve Securis is strategically positioned to expand investment opportunities in catastrophe bonds, private ILS, and broader insurance markets. With a strong focus on performance generation under rigid investment governance, the firm will continue to pioneer investment solutions by integrating proprietary catastrophe risk models with market-leading technology. Its research-driven approach and strong structuring expertise ensure cost-effective, transparent investment vehicles that meet the evolving needs of institutional investors.

    Urs Ramseier, CEO of Twelve Securis, commented: “This merger marks a new era for insurance-linked investments. By bringing together two highly experienced teams with a shared vision, we are strengthening our ability to deliver outstanding investment solutions to our global client base and create long-term value for them.”

    Cyrus Jilla, Chairman of Twelve Securis, said: “We are excited about the creation of Twelve Securis. The firm is strategically positioned to capitalise on new opportunities in the evolving insurance and ILS landscape, leveraging its scale, expertise, and client-centric approach.”

    The transition has been carefully structured to ensure continuity for clients and employees. Twelve Securis remains committed to independence and delivering best-in-class service as it enters this next phase of growth.

    For further information please contact Twelve Securis at:

    +41 44 5000 120
    Kathrin Verbeck
    info@twelvesecuris.com

    About Twelve Securis

    Twelve Securis, formed from the merger of Twelve Capital and Securis Investment Partners, is a leading insurance-focused investment manager. Specialising in Cat Bonds and Private ILS, we offer research-driven investment solutions capturing alternative risk premia. Our extensive team of experts ensures transparency, innovation, and products designed for a diverse global client base.

    www.twelvesecuris.com

    The MIL Network –

  • MIL-OSI: Brookfield Wealth Solutions Announces Year End 2024 Results and Declares Quarterly Distribution Increase

    Source: GlobeNewswire (MIL-OSI)

    BROOKFIELD, NEWS, Feb. 13, 2025 (GLOBE NEWSWIRE) — Brookfield Wealth Solutions (NYSE, TSX: BNT) today announced financial results for the three months and year ended December 31, 2024.

    Sachin Shah, CEO of Brookfield Wealth Solutions, stated, “Our strong results for 2024 underscore our growth over the past year having doubled the size of the business in that time. Our scalable North American annuity platform, coupled with our leading investment capabilities, will serve as the foundation for our business as we expand internationally in 2025.”

    Unaudited
    As of and for the periods ended December 31
    (US$ millions, except per share amounts)    		 Three Months Ended   Year Ended
      2024       2023       2024       2023  
    Total assets $ 140,460     $ 61,643     $ 140,460     $ 61,643  
    Adjusted equity1   12,872       8,969       12,872       8,969  
    Distributable operating earnings1   427       258       1,374       745  
    Net income   576       453       1,247       797  
    Net income per each class A share $ 0.08     $ 0.07     $ 0.32     $ 0.28  

    1.   See Non-GAAP and Performance Measures on page 6 and a reconciliation from net income and reconciliation from equity on page 5.

    2024 Highlights

    • Completed the acquisition of American Equity Investment Life Holding Company (“AEL”), doubling the size of our business
    • Deployed more than $17 billion across our investment portfolio at strong risk-adjusted returns
    • Generated $19 billion in annuity and pension risk transfer (“PRT”) sales across the business, consisting of approximately $14 billion of retail annuity sales, inclusive of a full twelve months of activity at AEL, and $5 billion of PRT deals
    • We closed our first U.K. reinsurance transaction, reinsuring £1.0 billion ($1.3 billion) of pension liabilities

    Operating Update
    We recognized $427 million and $1.4 billion of distributable operating earnings (“DOE”) for the three months and year ended December 31, 2024, respectively, compared to $258 million and $745 million in the prior year periods. The increase in earnings for the current period reflects contributions from our acquisition of AEL as well as higher net investment income resulting from progress made in repositioning assets into higher yielding investment strategies. DOE further benefitted from strong annuity sales during the year.

    We recorded net income of $576 million and $1.2 billion for the three months and year ended December 31, 2024, respectively, compared to net income of $453 million and $797 million in the prior year periods. Net income in the current period is the result of strong operating performance and contributions from our DOE, as well as favorable movement on reserves due to interest rate and equity market movements.

    Today, we are in a strong liquidity position, with approximately $31 billion of cash and short-term liquid investments across our investment portfolios, and another $21 billion of long-term liquid investments. These liquid assets will support the ongoing rotation of our portfolio into higher yielding investment strategies, while ensuring we have sufficient liquidity coverage for our liabilities in the case of any stress events impacting the broader market.

    Regular Distribution Declaration
    The Board declared a 13% increase in the Company’s quarterly return of capital to $0.09 per class A share and class B share (representing $0.36 per annum), payable on March 31, 2025 to shareholders of record as at the close of business on March 14, 2025. This distribution is identical in amount per share and has the same payment date as the quarterly distribution announced today by Brookfield Corporation on the Brookfield class A shares.

    Brookfield Corporation Operating Results
    An investment in class A shares of our company is intended to be, as nearly as practicable, functionally and economically, equivalent to an investment in the Brookfield class A shares. A summary of Brookfield Corporation’s fourth quarter and full year operating results is provided below:

    Unaudited
    For the periods ended December 31
    (US$ millions, except per share amounts)    		 Three Months Ended   Years Ended
      2024       2023       2024       2023  
    Net income of consolidated business1 $ 101     $ 3,134     $ 1,853     $ 5,105  
    Net income attributable to Brookfield shareholders2   432       699       641       1,130  
    Distributable earnings before realizations2,3   1,498       1,209       4,871       4,223  
    – Per Brookfield class A share2,3   0.94       0.76       3.07       2.66  
    Distributable earnings2,3   1,606       1,312       6,274       4,806  
    – Per Brookfield class A share2,3   1.01       0.83       3.96       3.03  

    1.   Consolidated basis – includes amounts attributable to non-controlling interests.
    2.   Excludes amounts attributable to non-controlling interests.
    3.   See Reconciliation of Net Income to Distributable Earnings on page 5 and Non-IFRS and Performance Measures section on page 8 of Brookfield Corporation’s press release dated February 13, 2025.

    Brookfield Corporation net income above is presented under IFRS. Given the economic equivalence, we expect that the market price of the class A shares of our company will be impacted significantly by the market price of the Brookfield class A shares and the business performance of Brookfield as a whole. In addition to carefully considering the disclosure made in this news release in its entirety, shareholders are strongly encouraged to carefully review Brookfield Corporation’s letter to shareholders, supplemental information and its other continuous disclosure filings. Investors, analysts and other interested parties can access Brookfield Corporation’s disclosure on its website under the Reports & Filings section at bn.brookfield.com.

    CONSOLIDATED BALANCE SHEETS

    Unaudited     December 31
    		             December 31  
    (US$ millions)       2024               2023  
    Assets                  
                       
    Insurance invested assets                  
    Cash and cash equivalents $ 12,243         $ 4,308      
    Investments   92,966           39,838      
    Reinsurance funds withheld   1,517           7,248      
    Accrued investment income   860       107,586       280       51,674  
    Reinsurance recoverables and deposit assets       13,195               3,388  
            120,781               55,062  
                       
    Deferred policy acquisition costs       10,696               2,468  
    Other assets       8,983               4,113  
    Total assets       140,460               61,643  
                       
    Liabilities and equity                  
                       
    Policy and contract claims       7,659               7,288  
    Future policy benefits       14,088               9,813  
    Policyholders’ account balances       83,079               24,939  
    Deposit liabilities       1,502               1,577  
    Market risk benefits       3,655               89  
    Unearned premium reserve       1,843               2,056  
            111,826               45,762  
                       
    Corporate borrowings       1,022               1,706  
    Subsidiary borrowings       3,329               1,863  
    Funds withheld for reinsurance liabilities       3,392               83  
    Other liabilities       7,815               3,380  
                       
    Junior preferred shares       —               2,694  
    Non-controlling interest   850           146      
    Class A and class B   1,470           1,591      
    Class C   10,756       13,076       4,418       6,155  
    Total liabilities and equity     $ 140,460             $ 61,643  

    CONSOLIDATED STATEMENTS OF OPERATIONS

    Unaudited
    For the periods ended December 31
    US$ millions    		 Three Months Ended   Year Ended
      2024       2023       2024       2023  
    Net premiums and other policy revenue $ 4,307     $ 1,432     $ 9,048     $ 4,550  
    Net investment income, including funds withheld   1,325       621       4,440       2,121  
    Net investment gains (losses), including funds withheld   115       176       615       241  
    Total revenues   5,747       2,229       14,103       6,912  
                   
    Benefits and claims paid on insurance contracts   (4,003 )     (1,194 )     (8,162 )     (3,939 )
    Interest sensitive contract benefits   (710 )     (355 )     (1,874 )     (687 )
    Amortization of deferred policy acquisition costs   (370 )     (180 )     (1,237 )     (632 )
    Changes in fair value of insurance-related derivatives and embedded derivatives   396       210       234       41  
    Changes in fair value of market risk benefits   299       85       (107 )     166  
    Other reinsurance expenses   (6 )     (5 )     (26 )     (21 )
    Operating expenses   (332 )     (244 )     (1,356 )     (777 )
    Interest expense   (96 )     (68 )     (362 )     (249 )
    Total benefits and expenses   (4,822 )     (1,751 )     (12,890 )     (6,098 )
    Net income before income taxes   925       478       1,213       814  
    Income tax recovery (expense)   (349 )     (25 )     34       (17 )
    Net income for the period $ 576     $ 453     $ 1,247     $ 797  
                   
    Attributable to:              
    Class A and class B shareholders1 $ 4     $ 2     $ 14     $ 5  
    Class C shareholder   559       453       1,200       791  
    Non-controlling interest   13       (2 )     33       1  
      $ 576     $ 453     $ 1,247     $ 797  

    1.   Class A shares receive distributions at the same amount per share as the cash dividends paid on each Brookfield class A share.

    SUMMARIZED FINANCIAL RESULTS

    RECONCILIATION OF NET INCOME TO DISTRIBUTABLE OPERATING EARNINGS

    Unaudited
    For the periods ended December 31
    US$ millions    		 Three Months Ended   Year Ended
      2024       2023       2024       2023  
    Net income $ 576     $ 453     $ 1,247     $ 797  
    Unrealized net investment gains, including funds withheld   (115 )     (176 )     (615 )     (241 )
    Mark-to-market on insurance contracts and other net assets   (367 )     (104 )     589       105  
        94       173       1,221       661  
    Deferred income tax expense (recovery)   260       47       (195 )     14  
    Transaction costs   32       24       213       40  
    Depreciation   41       14       135       30  
    Distributable operating earnings1 $ 427     $ 258     $ 1,374     $ 745  

    RECONCILIATION OF EQUITY TO ADJUSTED EQUITY

    Unaudited
    As of December 31
    US$ millions    		   2024       2023  
    Equity $ 13,076     $ 6,155  
    Add:      
    Accumulated other comprehensive (income) loss   (204 )     120  
    Junior preferred shares   —       2,694  
    Adjusted equity1 $ 12,872     $ 8,969  

    1.   Non-GAAP measure – see Non-GAAP and Performance Measures on page 6.


    Additional Information

    The statements contained herein are based primarily on information that has been extracted from our financial statements for the quarter and year ended December 31, 2024, which have been prepared using generally accepted accounting principles in the United States of America (“US GAAP” or “GAAP”).

    Brookfield Wealth Solutions’ Board of Directors have reviewed and approved this document, including the summarized unaudited consolidated financial statements prior to its release.

    Information on our distributions can be found on our website under Stock & Distributions/Distribution History.

    Brookfield Wealth Solutions Ltd. (NYSE, TSX: BNT) is focused on securing the financial futures of individuals and institutions through a range of wealth protection and retirement services, and tailored capital solutions. Each class A exchangeable limited voting share of Brookfield Wealth Solutions is exchangeable on a one-for-one basis with a class A limited voting share of Brookfield Corporation (NYSE, TSX: BN). For more information, please visit our website at bnt.brookfield.com or contact:

    Communications & Media:
    Kerrie McHugh
    Tel: (212) 618-3469
    Email: kerrie.mchugh@brookfield.com    		   Investor Relations:
    Rachel Schneider
    Tel: (416) 369-3358
    Email: rachel.schneider@brookfield.com

    Non-GAAP and Performance Measures

    This news release and accompanying financial statements are based on US GAAP, unless otherwise noted.

    We make reference to Distributable operating earnings. We define distributable operating earnings as net income after applicable taxes excluding the impact of depreciation and amortization, deferred income taxes related to basis and other changes, and breakage and transaction costs, as well as certain investment and insurance reserve gains and losses, including gains and losses related to asset and liability matching strategies, non-operating adjustments related to changes in cash flow assumptions for future policy benefits, and change in market risk benefits, and is inclusive of returns on equity invested in certain variable interest entities and our share of adjusted earnings from our investments in certain associates. Distributable operating earnings is a measure of operating performance. We use distributable operating earnings to assess our operating results. We also make reference to Adjusted equity. Adjusted equity represents the total economic equity of our Company through our class A, B and C shares, excluding Accumulated other comprehensive income, and the junior preferred shares issued by our Company. We use adjusted equity to assess our return on our equity.

    We provide additional information on key terms and non-GAAP measures in our filings available at bnt.brookfield.com.

    Notice to Readers

    Brookfield Wealth Solutions Ltd. (“Brookfield Wealth Solutions” or “our” or “we”) is not making any offer or invitation of any kind by communication of this news release and under no circumstance is it to be construed as a prospectus or an advertisement.

    This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws, “forward-looking statements” within the meaning of Canadian provincial securities laws, “forward-looking statements” within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, and “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations (collectively, “forward-looking statements”). Forward-looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management’s current estimates, assumptions and expectations regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies, capital management and outlook of Brookfield Wealth Solutions, Brookfield Corporation and their respective subsidiaries, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods. Particularly, statements regarding international expansion plans and future capital markets initiatives, including statements relating to the redeployment of capital into higher yielding investments constitute forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as “expects,” “anticipates,” “plans,” “believes,” “estimates,” “seeks,” “intends,” “targets,” “projects,” “foresees,” “forecasts” or negative versions thereof and other similar expressions, or future or conditional verbs such as “may,” “will,” “should,” “would” and “could.” In particular, the forward-looking statements contained in this news release include statements referring to the growth of our business, international expansion, investment opportunities and expected future deployment of capital and financial earnings. Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable estimates, assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of Brookfield Wealth Solutions or Brookfield Corporation to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

    Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: (i) investment returns that are lower than target; (ii) the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business; (iii) the behavior of financial markets, including fluctuations in interest and foreign exchange rates and heightened inflationary pressures; (iv) global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; (v) strategic actions including acquisitions and dispositions; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; (vi) changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); (vii) the ability to appropriately manage human capital; (viii) the effect of applying future accounting changes; (ix) business competition; (x) operational and reputational risks; (xi) technological change; (xii) changes in government regulation and legislation within the countries in which we operate; (xiii) governmental investigations and sanctions; (xiv) litigation; (xv) changes in tax laws; (xvi) ability to collect amounts owed; (xvii) catastrophic events, including but not limited to, earthquakes, hurricanes, epidemics and pandemics; (xviii) the possible impact of international conflicts and other developments including terrorist acts and cyberterrorism; (xix) the introduction, withdrawal, success and timing of business initiatives and strategies; (xx) the failure of effective disclosure controls and procedures and internal controls over financial reporting and other risks; (xxi) health, safety and environmental risks; (xxii) the maintenance of adequate insurance coverage; (xxiii) the existence of information barriers between certain businesses within our asset management operations; (xxiv) risks specific to our business segments; and (xxv) factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States.

    We caution that the foregoing list of important factors that may affect future results is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the foregoing risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such forward-looking information. Except as required by law, Brookfield Wealth Solutions undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.

    Past performance is not indicative nor a guarantee of future results. There can be no assurance that comparable results will be achieved in the future, that future investments will be similar to the historic investments discussed herein, that targeted returns, growth objectives, diversification or asset allocations will be met or that an investment strategy or investment objectives will be achieved (because of economic conditions, the availability of investment opportunities or otherwise).

    Certain of the information contained herein is based on or derived from information provided by independent third-party sources. While Brookfield Wealth Solutions believes that such information is accurate as of the date it was produced and that the sources from which such information has been obtained are reliable, Brookfield Wealth Solutions does not make any assurance, representation or warranty, express or implied, with respect to the accuracy, reasonableness or completeness of any of the information or the assumptions on which such information is based, contained herein, including but not limited to, information obtained from third parties, and undue reliance should not be put on them.

    The MIL Network –

  • MIL-OSI: YieldMax™ Unveils New Weekly Pay 0DTE Covered Call Strategy ETF on the Nasdaq 100 Index

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, MILWAUKEE and NEW YORK, Feb. 13, 2025 (GLOBE NEWSWIRE) — YieldMax™ announced the launch today of the following ETF:

    YieldMax™ Nasdaq 100 0DTE Covered Call Strategy ETF (Nasdaq: QDTY)

    QDTY Overview        
    QDTY follows an active management approach that utilizes a synthetic covered call strategy designed to generate weekly income while also providing exposure to the price return of an Index.

    • QDTY is designed to generate weekly income, while also providing exposure to the price return of the Nasdaq 100 Index (the “Index”).
    • QDTY seeks to generate income primarily by utilizing zero days to expiry (“0DTE”) options on the Index and/or passively managed ETFs that tracks the Index’s performance (the “Index ETFs”).

    Index
    The Nasdaq 100 Index is a benchmark index comprising 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization. This large-cap index, heavily weighted towards the technology sector, represents various industries, including consumer discretionary, healthcare, communication services, and industrials, reflecting Nasdaq’s historical strength.

    QDTY’s Option Strategy

    QDTY employs a synthetic covered call strategy by selling and purchasing call options on the Index or Index ETFs. Each business day, typically at market open, the Fund sells out-of-the-money (OTM) call options with zero days to expiration (“0DTE”), which expire the same day they are sold. OTM options have a strike price above the current Index value. QDTY’s synthetic covered call strategy is established by combining the call options sold to generate income with buying call options for exposure to the Index.

    QDTY’s Return Profile and Index Performance

    QDTY earns income by selling out-of-the-money 0DTE call options daily. The premiums from these options add to income but limit participation in Index gains. If the Index rises past the strike price, losses on sold options can offset gains. This strategy balances income generation with limited Index upside exposure while premiums can help mitigate losses if the Index declines.

    QDTY’s Distribution Schedule
    Like all YieldMax™ ETFs, QDTY aims to generate income for investors. With respect to distributions, QDTY aims to make distributions on a weekly basis, and its first weekly distribution is expected to be announced on February 26, 2025.

    Why Invest in QDTY?

    • QDTY seeks to generate weekly income, which is not dependent on the value of the Index (or the Index ETFs).
    • QDTY aims to participate in a portion of the Index gains, which may be capped.

    Important Information

    Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about each Fund, visit our website at www.YieldMaxETFs.com. Read the prospectus or summary prospectus carefully before investing.

    There is no guarantee that any Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment in any such Fund.

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

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

    Risk Disclosures

    Investing involves risk. Principal loss is possible.

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

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

    The Nasdaq 100 Index Risks. The Index’s major risks stem from its high concentration in the technology sector and significant exposure to high-growth, high-valuation companies. A downturn in the tech industry, whether from regulatory changes, shifts in technology, or competitive pressures, can greatly impact the index.

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

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

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

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

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next. Additionally, monthly distributions, if any, may consist of returns of capital, which would decrease the Fund’s NAV and trading price over time.

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

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

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

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

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

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

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

    © 2025 YieldMax™ ETFs

    The MIL Network –

  • MIL-OSI: Defiance ETFs Launches Battleshares™ ETFs, Introducing ELON (Tesla vs. Ford) as Flagship Fund

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Feb. 13, 2025 (GLOBE NEWSWIRE) — Defiance ETFs is excited to introduce Battleshares™ Exchange-Traded Funds (ETFs), an innovative suite of ETFs designed to capture competitive market dynamics and capitalize on strategic market rivalries within leading industries. The suite will feature a range of distinct ETFs, each crafted to help investors benefit from evolving market competition.

    Introducing ELON: The First in the Battleshares™ Series
    The first ETF in the Battleshares™ lineup is the Battleshares™ TSLA vs. F ETF (Ticker: ELON). This actively managed fund embodies market competition, highlighting the dynamic rivalry between what the advisor believes to be an industry disruptor Tesla (TSLA) and legacy competitor Ford (F). The Fund’s strategy involves a leveraged long position in TSLA, generally targeting +200% of the Fund’s net assets, paired with a leveraged short position in F, generally targeting -100% of the Fund’s net assets. ELON provides investors with a unique opportunity to gain exposure to the ongoing transformation within the automotive sector, capitalizing on the divergence between innovation and tradition.

    A Competitive Edge for Forward-Thinking Investors
    Battleshares™ ETFs employ a unique long/short investment strategy, going long on industry innovators while shorting their legacy competitors. This approach enables the funds to potentially generate returns across various market conditions while focusing on single-stock opportunities. The funds will cover sectors such as technology, retail, financial services, and automotive.

    “We are thrilled to introduce Battleshares™ ETFs, starting with ELON,” said Sylvia Jablonski, Chief Executive Officer & CIO of Defiance ETFs. “This suite is designed to empower investors with strategic tools that harness industry disruption and market evolution.”

    Key Features of the Battleshares™ ETFs:

    • Actively Managed Strategies: A long/short investment approach to capitalize on market dynamics.
    • Industry-Specific Focus: Targeting sectors including semiconductors, financial services, and renewable energy.
    • Leveraged Exposure: Structured to magnify returns through leveraged long and short positions.
    • Innovation-Driven: Funds such as ELON prioritize transformative market trends and technological advancements.

    The Battleshares™ TSLA vs. F ETF (Ticker: ELON) will be listed on the NYSE, offering investors a unique opportunity to participate in the competitive dynamics of transformational growth sectors.

    About Defiance ETFs
    Established in 2018, Defiance leads in ETF innovation. Our pioneering leveraged ETFs enable investors to amplify positions in innovative strategies, offering precise leveraged exposure without requiring a margin account.

    For more information about Battleshares™ ETFs and the Battleshares™ TSLA vs. F ETF (Ticker: ELON), please visit https://www.battle-shares.com.

    Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (866) 532-3886 or visit our website at www.battle-shares.com. Read the prospectus or summary prospectus carefully before investing.

    None of the Fund, the Trust, the Adviser, or their respective affiliates makes any representation to you as to the performance of TSLA or F. THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH TESLA, INC. or FORD MOTOR COMPANY.

    Investing involves risk. Principal loss is possible. As an ETF, the funds may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. A portfolio concentrated in a single industry or country, may be subject to a higher degree of risk. There is no guarantee that the Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment.

    TSLA Risk (Long Position). The Fund invests in TSLA either directly or indirectly through derivative instruments (i.e., via options and swaps). Through its long position, the Fund is subject to the risk that TSLA’s share price decreases. If the share price of TSLA decreases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. Therefore, as a result of the Fund’s exposure to the value of TSLA, the Fund may also be subject to the following risks: Indirect Investment in TSLA Risk. Tesla, Inc. is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way and has no obligation to consider your Shares in taking any corporate actions that might affect the value of Shares. Investors in the Fund will not have voting rights and will not be able to influence management of Tesla, Inc. but will be exposed to the performance of TSLA (the underlying stock). Investors in the Fund will not have rights to receive dividends or other distributions or any other rights with respect to the underlying stock but will be subject to declines in the performance of the underlying stock. Tesla, Inc. Performance Risk. Tesla, Inc. may fail to meet its publicly announced guidelines or other expectations about its business, which could cause the price of TSLA to decline. Electric Vehicles Risk. The future growth and success of Tesla, Inc. are dependent upon consumers’ demand for electric vehicles, and specifically, its vehicles in an automotive industry that is generally competitive, cyclical and volatile. If the market for electric vehicles in general and Tesla, Inc. vehicles in particular does not develop as Tesla, Inc. expects, develops more slowly than it expects, or if demand for its vehicles decreases in its markets or its vehicles compete with each other, the business, prospects, financial condition and operating results of Tesla, Inc. may be harmed.

    Ford Price Appreciation Risk (Short Position). As part of the Fund’s short strategy, the Fund may sell F shares short, either directly or through the use of derivatives. By virtue of the Fund’s indirect inverse exposure to changes in the share price of F, the Fund is subject to the risk that F’s share price increases. If the share price of F increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: Ford’s ability to gain market share in the electric vehicle market may enhance its market position and result in increased stock prices. Market share gains against key competitors, such as TSLA, in the electric vehicle market may further support Ford’s stock performance. Moreover, strategic partnerships and successful acquisitions could drive significant growth and lead to stock appreciation. Favorable macroeconomic and industry conditions, including strong global demand for automobiles, may contribute to robust financial performance for Ford. Ford may benefit from favorable geopolitical developments, including advantageous trade policies or improved relations with key markets, such as China, which could positively impact its operations and stock performance. Conversely, any significant challenges faced by competitors, such as product delays or supply chain issues, may reduce competition and contribute to Ford’s stock outperformance.

    Leveraging Risk. The Fund’s use of leverage amplifies both potential gains and potential losses, which can result in significant volatility and higher risk for investors. Specifically, TSLA, the Fund’s leveraged long position (“Long Position”) and, F, leveraged short position (“Short Position”) expose the Fund to heightened risk if the Long Position performs poorly while the Short Position performs well. If the value of the Long Position declines, the Fund’s leveraged exposure could result in losses that are magnified by the leverage factor, potentially exceeding the losses that would occur in an unleveraged position. For example, if the Fund’s Long Position is at +200% of net assets, a 10% decline in the value of the Long Position could translate into a 20% loss for the Fund’s net asset value attributable to that position. Conversely, if the value of the Short Position increases, the Fund’s leveraged short exposure could also lead to magnified losses. If the Short Position is at -100% of net assets, a 10% rise in the value of the Short Position could result in a 10% loss for the Fund’s net asset value attributable to that position.

    Derivatives Risk. The Fund’s derivative investments carry risks such as an imperfect match between the derivative’s performance and its underlying assets, and the potential for loss of principal, which can exceed the initial investment.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund. As a result, a decline in the value of an investment in a single issuer or a smaller number of issuers could cause the Fund’s overall value to decline to a greater degree than if the Fund held a more diversified portfolio.

    New Fund Risk. As of the date of the prospectus, the Fund has no operating history and currently has fewer assets than larger funds. Like other new funds, large inflows and outflows may impact the Fund’s market exposure for limited periods of time. Brokerage Commissions may be charged on trades.

    Distributed by Foreside Fund Services, LLC.

    The MIL Network –

  • MIL-OSI: CareCloud Transfers Funds for Preferred Stock Dividends

    Source: GlobeNewswire (MIL-OSI)

    SOMERSET, N.J., Feb. 13, 2025 (GLOBE NEWSWIRE) — CareCloud, Inc. (Nasdaq: CCLD, CCLDO, CCLDP), a leader in healthcare technology and generative AI solutions, today announced that it has transferred the funds for the January 2025 dividend payments on its Series A and Series B Cumulative Redeemable Perpetual Preferred Stock.

    As previously disclosed, holders of Series A Preferred Stock will receive 22.917 cents per share, while holders of Series B Preferred Stock will receive 18.229 cents per share based on a record date of January 31, 2025. These payments are expected to be reflected in shareholders’ brokerage accounts between February 18 and February 20, 2025.

    “We appreciate the continued support of our shareholders and remain focused on maintaining financial stability,” said Norman Roth, Interim Chief Financial Officer of CareCloud. “The timely payment of these dividends reflects our commitment to responsible fiscal management and ongoing progress in strengthening our financial position.”

    Dividend details:

    • Expected reflection in accounts: February 18 – February 20, 2025
    • Record date: January 31, 2025
    • Series A Dividend: 22.917 cents per share
    • Series B Dividend: 18.229 cents per share

    Dividends for both Series A and Series B Preferred Stock are cumulative and payable monthly, in arrears, on the 15th of each month or the next business day if the 15th of the month is a bank holiday or weekend. In February, President’s Day is observed on Monday the 17th, therefore the first business day after February 15th is February 18th.

    Shareholders who do not see their dividend payment in their brokerage account by the end of next week are encouraged to contact their broker for assistance. For further inquiries, the CareCloud Investor Relations team can be reached at ir@carecloud.com.

    About CareCloud

    CareCloud brings disciplined innovation to the business of healthcare. Our suite of AI and technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care, while reducing administrative burdens and operating costs. Learn more about our products and services, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health at www.carecloud.com.

    Follow CareCloud on LinkedIn, X and Facebook.

    Forward-Looking Statements

    This press release contains various forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “shall,” “should,” “could,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “seeks,” “estimates,” “forecasts,” “predicts,” “possible,” “potential,” “target,” or “continue” or the negative of these terms or other comparable terminology.

    Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management’s expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, the impact of pandemics on our financial performance and business activities, and the expected results from the integration of our acquisitions.

    These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective global operations, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards, compete with other companies’ products and services competitive with ours, and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission.

    The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

    SOURCE CareCloud

    Company Contact:
    Norman Roth
    Interim Chief Financial Officer and Corporate Controller
    CareCloud, Inc.
    nroth@carecloud.com

    Investor Contact:
    Stephen Snyder
    Co-Chief Executive Officer
    CareCloud, Inc.
    ir@carecloud.com

    The MIL Network –

  • MIL-OSI: OTC Markets Group Welcomes Concurrent Technologies Plc to OTCQX

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 13, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Concurrent Technologies Plc (LSE: CNC; OTCQX: COTGF), a designer and manufacturer of leading-edge computer products, systems, and mission-critical solutions used in high-performance markets by some of the world’s major OEMs, has qualified to trade on the OTCQX® Best Market. Concurrent Technologies Plc upgraded to OTCQX from the Pink® market.

    Concurrent Technologies Plc begins trading today on OTCQX under the symbol “COTGF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

    Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors.  For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

    Miles Adcock, CEO of Concurrent Technologies Plc commented: “Located in LA and Boston, and with a fast-growing employee base, America is a key home market for the company.  It is also our largest and fastest growing region for sales. Offering domestic investors and employees access to our stock is an important step in aligning all interests to our continued success.”

    About Concurrent Technologies Plc
    Concurrent Technologies Plc develops and manufactures high-end embedded plug-in cards and systems for use in a wide range of high-performance, long-life cycle applications within the telecommunications, defense, security, telemetry, scientific and aerospace markets, including applications within extremely harsh environments. The processor products feature Intel processors, including the latest generation embedded Intel Core processors, Intel Xeon and Intel Atom processors. The products are designed to be compliant with industry specifications and support many of today’s leading embedded operating systems. The products are sold world-wide.

    About OTC Markets Group Inc.
    OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.

    Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

    OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

    To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

    Subscribe to the OTC Markets RSS Feed

    Media Contact:
    OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

    The MIL Network –

  • MIL-OSI: Calian Reports Results for the First Quarter

    Source: GlobeNewswire (MIL-OSI)

    (All amounts in release are in Canadian dollars)

    OTTAWA, Ontario, Feb. 13, 2025 (GLOBE NEWSWIRE) — Calian® Group Ltd. (TSX:CGY), a diverse products and services company providing innovative healthcare, communications, learning and cybersecurity solutions, today released its results for the first quarter ended December 31, 2024.

    Q1-25 Highlights:

    • Revenue up 3% to $185 million
    • Gross margin at 31.8%, slightly down from 32.5% last year
    • Adjusted EBITDA1 of $18 million, down from $21 million last year
    • Operating free cash flow1 of $13 million, down from $17 million last year
    • Net debt to adjusted EBITDA1 ratio of 0.6x
    • Repurchased 101,350 shares in consideration of $4.9 million
    • Guidance reiterated
    • Announced new U.S. subsidiary to focus on U.S. government and defence
       
    Financial Highlights Three months ended
    (in millions of $, except per share & margins) December  31,
      2024   20232   %
    Revenue 185.0   179.2   3 %
    Adjusted EBITDA1 17.8   21.4   (17) %
    Adjusted EBITDA %1 9.6 % 11.9 % (230)bps
    Adjusted Net Profit1 10.5   14.0   (25) %
    Adjusted EPS Diluted1 0.88   1.17   (25) %
    Operating Free Cash Flow1 13.1   17.2   (24) %
           
           

    1 This is a non-GAAP measure. Please refer to the section “Reconciliation of non-GAAP measures to most comparable IFRS measures” at the end of this press release.
    2 Certain comparative figures have been reclassified to align with the current year’s presentation. For more information, please see the selected consolidated financial information section of the management discussion and analysis.

    Access the full report on the Calian Financials web page.
    Register for the conference call on Thursday, February 13, 2025, 8:30 a.m. Eastern Time.

    “We closed the quarter as expected and are seeing positive momentum across our diverse end markets, while continuing to benefit from the strong contributions of our recent acquisitions in UK, the U.S. and Canada,” said Kevin Ford, Calian CEO. “The accelerating global demand for defence solutions positions Calian’s expanding footprint to play a critical role in the years ahead. Additionally, discussions among Canadian leaders about increasing military investment and accelerating initiatives are a welcome development. We remain on track to deliver another record year and are making progress against our long-term objectives.”

    First Quarter Results

    Revenues increased 3%, from $179 million to $185 million, representing the highest first quarter revenue on record. Acquisitive growth was 8% and was generated by the acquisitions of Decisive Group, the nuclear assets from MDA Ltd and Mabway. Organic growth was down 5%, as growth generated in global Defence was offset by declines in the pace of domestic Defence training and delays in large projects in its Space and IT infrastructure markets.

    Gross margin stood at 31.8% and represents the 11th quarter above the 30% mark. Adjusted EBITDA1 stood at $18 million, down 17% from $21 million last year, primarily impacted by revenue mix and increased investments in our sales and delivery capacity. As a result, adjusted EBITDA1 margin decreased to 9.6%, from 11.9% last year.

    Net profit stood at $(1) million, or $(0.08) per diluted share, down from $6 million, or $0.46 per diluted share last year. This decrease in profitability is primarily due to increases in accounting charges related to amortization and deemed compensation expenses from acquisitions as well as increased operating expenses, which was offset by higher gross profit. Adjusted net profit1 was $10 million, or $0.88 per diluted share, down from $14 million, or $1.17 per diluted share last year.

    Liquidity and Capital Resources

    “In the first quarter we generated $13 million in operating free cash flow1, representing a 73% conversion rate from adjusted EBITDA1,” said Patrick Houston, Calian CFO. “We used our cash and a portion of our credit facility to pay contingent earn out liabilities for $11 million and make capital expenditure investments for $1 million. We also provided a return to shareholders in the form of dividends for $3 million and share buybacks for $5 million. We ended the quarter with a net debt to adjusted EBITDA1 ratio of 0.6x, well-positioned to pursue our growth objectives,” concluded Mr. Houston.

    Normal Course Issuer Bid

    In the three-month period ended December 31, 2024, the Company repurchased 101,350 shares for cancellation in consideration of $4.9 million.

    Announced U.S. Subsidiary to Focus on U.S. Government and Defence

    On December 4, 2024, Calian announced the launch of an independent U.S.-focused subsidiary, Calian US, Inc. It is committed to securing U.S. government contracts by ensuring full compliance with all relevant regulations. To facilitate this, Calian US will be established as an independent subsidiary and will pursue the necessary certifications to operate effectively within the U.S. market.

    Quarterly Dividend

    On February 12, 2025, Calian declared a quarterly dividend of $0.28 per share. The dividend is payable March 12, 2025, to shareholders of record as of February 26, 2025. Dividends paid by the Company are considered “eligible dividend” for tax purposes.

    Guidance Reiterated

    The table below presents the FY25 guidance based on the new definition of adjusted EBITDA.

      Guidance for the year ended September 30, 2025 FY24 Results   YOY Growth at Midpoint
    (in thousands of $) Low   Midpoint   High    
    Revenue 800,000   840,000   880,000   746,611   12 %
    Adj. EBITDA1 96,000   101,000   106,000   92,159   10 %
                       
                       

    This guidance includes the full-year contribution from the Decisive Group acquisition, closed on December 1, 2023, the nuclear asset acquisition from MDA Ltd., closed on March 5, 2024 and the Mabway acquisition, closed on May 9, 2024. It does not include any other further acquisitions that may close within the fiscal year. The guidance reflects another record year for the Company and positions it well to achieve its long-term growth targets.

    At the midpoint of the range, this guidance reflects revenue and adjusted EBITDA1 growth of 12% and 10%, respectively, and an adjusted EBITDA1 margin of 12.0%. It would represent the 8th consecutive year of double-digit revenue growth and record revenue and adjusted EBITDA1 levels.

    About Calian

    www.calian.com

    We keep the world moving forward. Calian® helps people communicate, innovate, learn and lead safe and healthy lives. Every day, our employees live our values of customer commitment, integrity, innovation, respect and teamwork to engineer reliable solutions that solve complex challenges. That’s Confidence. Engineered. A stable and growing 40-year company, we are headquartered in Ottawa with offices and projects spanning North American, European and international markets. Visit calian.com to learn about innovative healthcare, communications, learning and cybersecurity solutions.

    Product or service names mentioned herein may be the trademarks of their respective owners. 

    Media inquiries:
    media@calian.com
    613-599-8600

    Investor Relations inquiries:
    ir@calian.com

    —————————————————————————–
    DISCLAIMER

    Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as “intend”, “anticipate”, “believe”, “estimate”, “expect” or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company’s most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.

    Calian · Head Office · 770 Palladium Drive · Ottawa · Ontario · Canada · K2V 1C8
    Tel: 613.599.8600 · Fax: 613-592-3664 · General info email: info@calian.com

    CALIAN GROUP LTD.
    UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
    As at December 31, 2024 and September 30, 2024
    (Canadian dollars in thousands, except per share data)
                   
      December 31,   September 30,
      2024   2024
    ASSETS              
    CURRENT ASSETS              
    Cash and cash equivalents $ 61,040     $ 51,788  
    Accounts receivable   157,542       157,376  
    Work in process   20,205       20,437  
    Inventory   29,442       23,199  
    Prepaid expenses   23,805       23,978  
    Derivative assets   31       32  
    Total current assets   292,065       276,810  
    NON-CURRENT ASSETS              
    Property, plant and equipment   41,234       40,962  
    Right of use assets   41,746       36,383  
    Prepaid expenses   7,157       7,820  
    Deferred tax asset   3,376       3,425  
    Investments   3,875       3,875  
    Acquired intangible assets   123,297       128,253  
    Goodwill   213,925       210,392  
    Total non-current assets   434,610       431,110  
    TOTAL ASSETS $ 726,675     $ 707,920  
    LIABILITIES AND SHAREHOLDERS’ EQUITY              
    CURRENT LIABILITIES              
    Accounts payable and accrued liabilities $ 123,945     $ 124,884  
    Provisions   2,454       3,075  
    Unearned contract revenue   40,263       41,723  
    Lease obligations   5,556       5,645  
    Contingent earn-out   29,709       39,136  
    Derivative liabilities   169       92  
    Total current liabilities   202,096       214,555  
    NON-CURRENT LIABILITIES              
    Debt facility   115,750       89,750  
    Lease obligations   39,425       33,798  
    Unearned contract revenue   17,256       14,503  
    Contingent earn-out   2,773       2,697  
    Deferred tax liabilities   23,738       25,862  
    Total non-current liabilities   198,942       166,610  
    TOTAL LIABILITIES   401,038       381,165  
                   
    SHAREHOLDERS’ EQUITY              
    Issued capital   227,561       225,747  
    Contributed surplus   4,555       6,019  
    Retained earnings   84,038       91,268  
    Accumulated other comprehensive income (loss)   9,483       3,721  
    TOTAL SHAREHOLDERS’ EQUITY   325,637       326,755  
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 726,675     $ 707,920  
    Number of common shares issued and outstanding   11,765,055       11,802,364  
    CALIAN GROUP LTD.
    UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF NET PROFIT
    For the three months ended December 31, 2024 and 2023
    (Canadian dollars in thousands, except per share data)
           
      Three months ended
      December  31,
      2024     2023
    Revenue $ 185,047     $ 179,179  
    Cost of revenues   126,246       120,961  
    Gross profit   58,801       58,218  
           
    Selling, general and administrative   38,105       34,145  
    Research and development   2,896       2,719  
    Share based compensation   1,091       1,190  
    Profit before under noted items   16,709       20,164  
           
    Restructuring expense   692       —  
    Depreciation and amortization   11,540       9,006  
    Mergers and acquisition costs   2,320       1,980  
    Profit before interest income and income tax expense   2,157       9,178  
           
    Interest expense   1,783       1,547  
    Income tax expense   1,350       2,106  
    NET PROFIT (LOSS) $ (976)     $ 5,525  
           
    Net profit (loss) per share:      
    Basic $ (0.08)     $ 0.47  
    Diluted $ (0.08)     $ 0.46  
    CALIAN GROUP LTD.
    UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    For the three months ended December 31, 2024 and 2023
    (Canadian dollars in thousands)
               
      Three months ended
      December 31,
        2024       2023  
    CASH FLOWS GENERATED FROM (USED IN) OPERATING ACTIVITIES          
    Net profit $ (976 )   $ 5,525  
    Items not affecting cash:          
    Interest expense   1,295       1,098  
    Changes in fair value related to contingent earn-out   558       726  
    Lease obligations interest expense   488       449  
    Income tax expense   1,350       2,106  
    Employee share purchase plan expense   174       162  
    Share based compensation expense   917       1,013  
    Depreciation and amortization   11,540       9,006  
    Deemed compensation   1,563       604  
        16,909       20,689  
    Change in non-cash working capital          
    Accounts receivable   (167 )     (11,189 )
    Work in process   232       (898 )
    Prepaid expenses and other   (2,739 )     (74 )
    Inventory   (6,241 )     (2,590 )
    Accounts payable and accrued liabilities   (858 )     15,516  
    Unearned contract revenue   1,294       206  
        8,430       21,660  
    Interest paid   (1,783 )     (1,547 )
    Income tax paid   (2,265 )     (2,575 )
        4,382       17,538  
    CASH FLOWS GENERATED FROM (USED IN) FINANCING ACTIVITIES          
    Issuance of common shares net of costs   881       694  
    Dividends   (3,292 )     (3,314 )
    Draw on debt facility   26,000       56,000  
    Payment of lease obligations   (1,442 )     (1,171 )
    Repurchase of common shares   (4,926 )     (1,357 )
        17,221       50,852  
    CASH FLOWS USED IN INVESTING ACTIVITIES          
    Business acquisitions   (11,215 )     (47,457 )
    Property, plant and equipment   (1,136 )     (2,400 )
        (12,351 )     (49,857 )
               
    NET CASH INFLOW (OUTFLOW) $ 9,252     $ 18,533  
    CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD   51,788       33,734  
    CASH AND CASH EQUIVALENTS, END OF PERIOD $ 61,040     $ 52,267  
                   

    Reconciliation of Non-GAAP Measures to Most Comparable IFRS Measures

    These non-GAAP measures are mainly derived from the consolidated financial statements, but do not have a standardized meaning prescribed by IFRS; therefore, others using these terms may calculate them differently. The exclusion of certain items from non-GAAP performance measures does not imply that these are necessarily nonrecurring. From time to time, we may exclude additional items if we believe doing so would result in a more transparent and comparable disclosure. Other entities may define the above measures differently than we do. In those cases, it may be difficult to use similarly named non-GAAP measures of other entities to compare performance of those entities to the Company’s performance.

    Management believes that providing certain non-GAAP performance measures, in addition to IFRS measures, provides users of the Company’s financial reports with enhanced understanding of the Company’s results and related trends and increases transparency and clarity into the core results of the business. Adjusted EBITDA excludes items that do not reflect, in our opinion, the Company’s core performance and helps users of our MD&A to better analyze our results, enabling comparability of our results from one period to another.

    Adjusted EBITDA

         
        Three months ended
        December 31,
        2024       20231  
    Net profit $ (976 )   $ 5,525  
    Share based compensation   1,091       1,190  
    Restructuring expense   692       —  
    Depreciation and amortization   11,540       9,006  
    Mergers and acquisition costs   2,320       1,980  
    Interest expense   1,783       1,547  
    Income tax   1,350       2,106  
    Adjusted EBITDA $ 17,800     $ 21,354  
                   

    Adjusted Net Profit and Adjusted EPS

         
        Three months ended
        December 31,
        2024       20231  
    Net profit $ (976 )   $ 5,525  
    Share based compensation   1,091       1,190  
    Restructuring expense   692       —  
    Mergers and acquisition costs   2,320       1,980  
    Amortization of intangibles   7,334       5,325  
    Adjusted net profit   10,461       14,020  
    Weighted average number of common shares basic   11,773,465       11,812,574  
    Adjusted EPS Basic   0.89       1.19  
     Adjusted EPS Diluted $ 0.88     $ 1.17  
                   

    Operating Free Cash Flow

         
        Three months ended
        December 31,
        2024       20231  
    Cash flows generated from operating activities (free cash flow) $ 4,382     $ 17,538  
    Adjustments:          
    M&A costs included in operating activities   199       650  
    Change in non-cash working capital   8,479       (971)  
    Operating free cash flow $ 13,060     $ 17,217  
    Operating free cash flow per share – basic   1.11       1.46  
    Operating free cash flow per share – diluted   1.10       1.44  
    Operating free cash flow conversion   73 %     81 %
                   

    Net Debt to Adjusted EBITDA

       
       
      December 31,     September 30,
        2024       20231  
    Cash $ 61,040     $ 52,267  
    Debt facility   115,750       93,750  
    Net debt (net cash)   54,710       41,483  
    Trailing twelve month adjusted EBITDA   88,602       65,987  
    Net debt to adjusted EBITDA   0.6       0.6  
                   

    Operating free cash flow measures the company’s cash profitability after required capital spending when excluding working capital changes. The Company’s ability to convert adjusted EBITDA to operating free cash flow is critical for the long term success of its strategic growth. These measurements better align the reporting of our results and improve comparability against our peers. We believe that securities analysts, investors and other interested parties frequently use non-GAAP measures in the evaluation of issuers. Management also uses non-GAAP measures in order to facilitate operating performance comparisons from period to period, prepare annual operating budgets and assess our ability to meet our capital expenditure and working capital requirements. Non-GAAP measures should not be considered a substitute for or be considered in isolation from measures prepared in accordance with IFRS. Investors are encouraged to review our financial statements and disclosures in their entirety and are cautioned not to put undue reliance on non-GAAP measures and view them in conjunction with the most comparable IFRS financial measures. The Company has reconciled adjusted profit to the most comparable IFRS financial measure as shown above.

    The MIL Network –

  • MIL-OSI Economics: The implications of a democracies-only trade pact

    Source: International Chamber of Commerce

    Headline: The implications of a democracies-only trade pact

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    The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Sellafield apprentices delivering social impact across Cumbria

    Source: United Kingdom – Executive Government & Departments

    Sellafield Ltd Project Management Degree Apprentices helping local charities as part of the Association for Project Management Challenge.

    Volunteers at the North Lakes Foodbank’s Holiday Lunch Pack Scheme

    Sixteen Sellafield Ltd Project Management Degree Apprentices have entered the Association for Project Management (APM) Challenge, an annual competition for newcomers to project management that has been running for nearly a decade.

    Competitors form teams and are tasked with proposing and delivering a social impact project from concept to completion, using APM competencies and project management best practices, supported by an experienced mentor who will help nurture their progress.

    The competition is backed by regional networks and culminates in a final awards ceremony where the highest-scoring teams present their projects and winners are announced.

    One Sellafield team has focused their project on aiding improvements within the local Animal Concern Cumbria charity, which supports neglected and unwanted animals, striving to rehome them wherever possible.

    The team met with the charity to discuss priority renovations and plans to improve the indoor area and visitors’ room for potential adopters.

    They’ve already collected furniture donations and are considering holding a fundraising event to raise additional funds.

    Team members, Alana Quinn and Rachael Robbins said:

    The selection of Animal Concern Cumbria was driven by the fact it’s a local charity, rehoming rescue animals that solely rely on donations.

    The charity offers a secure and caring environment for animals whose owners, for whatever reason, are unable to care for them any longer and help them find permanent, loving homes.

    Our aim though the APM challenge is to raise money to improve key facilities. We are enhancing the well-being of the animals in the charity’s care whilst also contributing to the long-term development and sustainability of the local area and the charity’s future.

    The second group has opted to support the North Lakes Foodbank’s Holiday Lunch Pack Scheme, providing essential food to children during holiday periods.

    The charity plays a crucial role in helping the most vulnerable individuals in West Cumbria, and they are now grappling with an overwhelming 100% increase in demand year on year.

    The team is conducting a food collection campaign across the Sellafield site, including contributions from supply chain partners.

    They have already received support from various departments across Sellafield, as well as from their sponsor and mentor, and have made substantial progress with their collection so far.

    Team member, Luke Beresford said:

    Our team visited the foodbank at the beginning of the year to gain a deeper understanding of the challenges the charity faces and figure out how we could help alleviate those burdens.

    The Sellafield apprenticeship scheme has provided us with invaluable hands-on experience in demanding environments. Through networking and collaboration on complex nuclear projects, we’ve gained diverse insights across Project Management, Construction, and more. This blend of practical and academic learning has significantly advanced our careers.

    By completing a project proposal and carrying out this fundraising initiative, we hope to further enhance our skills and knowledge in project management while also benefiting our community.

    And finally, the third group from Sellafield is focused on improving road safety awareness among primary school students and reducing road accidents in West Cumbria.

    The team is doing this by organising a drawing competition where students develop road safety signs and slogans. The winners’ proposals will be turned into real signs displayed locally and around school zones.

    Before the competition, the team will conduct workshops and arrange guest expert speakers to host assemblies, raising students’ awareness of road safety.

    This initiative fosters creativity, encourages safer behaviour on local roads, and strengthens the community’s sense of shared responsibility for safety.

    Team member, Kate Starkie, said:

    We focused our project on road safety after learning that 3,400 children under 7 were injured or killed on UK roads in 2022. This statistic drove us to reduce children’s confusion about road safety and encourage good habits for their future.

    The project is progressing well. We’ve engaged with a local primary school’s headteacher and received valuable advice from our mentor at Sellafield.

    This is an excellent opportunity to enhance our project management skills and make a meaningful impact on local communities.

    More information

    Cumbrian Charity rehoming from our Centre in Egremont – Animal Concern Cumbria – Rehoming and supporting animals in need

    Holiday LunchPacks | North Lakes Foodbank | Cumbria

    Updates to this page

    Published 13 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: SITI visits Hengqin and Zhuhai (with photos)

    Source: Hong Kong Government special administrative region

    SITI visits Hengqin and Zhuhai (with photos)
    SITI visits Hengqin and Zhuhai (with photos)
    ********************************************

         The Secretary for Innovation, Technology and Industry, Professor Sun Dong, visited Hengqin and Zhuhai today (February 13). The Commissioner for Industry (Innovation and Technology), Dr Ge Ming, also joined the visit.     Professor Sun first visited the Guangdong-Macao In-Depth Cooperation Zone in Hengqin. His visit was aimed to speed up the implementation of the development planning of the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone in accordance with the spirit of the important instructions given by the Director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee and the Hong Kong and Macao Affairs Office of the State Council, Mr Xia Baolong, when he inspected the Hong Kong Park. Professor Sun had an engagement session with Deputy Secretary of the Hengqin Working Committee of the CPC Guangdong Provincial Committee, Director of the Hengqin Office of the People’s Government of Guangdong Province and Deputy Director of the Executive Committee, Mr Nie Xinping. During the session, Professor Sun learned about the in-depth planning and industry development of the Cooperation Zone, taking into account the development of the Hong Kong Park.     Professor Sun said, “Drawing on the experience of the Cooperation Zone, we have made it clearer of the special strategic positioning of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone as a demonstration zone for reform and innovation in the country. We should leverage the advantages of ‘two systems’, give full play to the uniqueness of the ‘Special Administrative Region within the Special Administrative Region’, seek institution and policy innovations, and break new ground, so as to expedite the realisation of the development objectives set out in the two five-year plans of the Hong Kong Park.”      The Hong Kong Special Administrative Region (HKSAR) Government is now studying the proposals on specific measures to facilitate the cross-boundary flow of innovation elements including personnel, materials, capital and data in the Hetao Hong Kong Park. In this connection, Professor Sun visited the Zhuhai MUST Science and Technology Research Institute in the Cooperation Zone, which is an industry-academia-research demonstration base built by the Macau University of Science and Technology in the Guangdong-Hong Kong-Macao Greater Bay Area, to learn more about the institute’s work in promoting cross-boundary flow of data in the zone.     Professor Sun met with the Deputy Secretary of the Communist Party of China Zhuhai Municipal Committee and Acting Mayor of the Zhuhai Municipal Government, Mr Wu Zetong, and Vice Mayor of Zhuhai Mr Huang Zhenqiu, and introduced the HKSAR Government’s latest policies on leading the city’s innovation and technology (I&T) development and the current developments. Professor Sun also learned about Zhuhai’s achievements in I&T and high-tech industrialisation. Both sides exchanged views on promoting I&T collaboration and exchanges between the two places.     In the afternoon, Professor Sun visited the cell production workshops of the Zhuhai SoleFiori Technology Company and learned about the technologies and productivity of new high-efficiency heterojunction solar cells and modules with low energy consumption and low carbon emissions. Professor Sun welcomed the enterprise’s plan to expand its business in Hong Kong.      Professor Sun then visited the headquarters of Gree Electric Appliances Inc. of Zhuhai. He was briefed on the latest developments in quality assurance, product innovations and talent training of the technology-based household consumer goods and industrial equipment manufacturing group. He also visited the industrial products display zone at the Group’s technology exhibition hall, where he learned about the self-developed industrial robots, computer numerical control machine tools, and smart warehousing products and systems.     Professor Sun concluded his visit and returned to Hong Kong in the evening.

     
    Ends/Thursday, February 13, 2025Issued at HKT 19:52

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: THE STATUS OF IMPLEMENTATION OF THE NATIONAL ELECTRIC MOBILITY MISSION PLAN

    Source: Government of India (2)

    Posted On: 13 FEB 2025 5:08PM by PIB Delhi

    The National Electric Mobility Mission Plan (NEMMP) 2020 provides a roadmap for the adoption and manufacturing of electric vehicles in India, aiming to enhance national fuel security and promote environmentally friendly transportation. As part of NEMMP 2020, the Ministry of Heavy Industries (MHI) implemented the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) Scheme in 2015 to promote the adoption of electric/hybrid vehicles.

    1. Phase-I was implemented up to 31 March 2019 with a budget of ₹895 crore.
    2. Phase-II was implemented for five years from 1 April 2019, with an outlay of ₹11,500 crore.

    Further, MHI is implementing the following schemes on pan-India basis to strengthen electric vehicle (EV) ecosystem and accelerate adoption of electric vehicle in the country.

    1. Production Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry in India (PLI-Auto): The Government approved this scheme on 23rd September 2021 for Automobile and Auto Component Industry in India for enhancing India’s manufacturing capabilities for advanced automotive technology (AAT) products with a budgetary outlay of ₹25,938 Crore. The scheme proposes financial incentives to boost domestic manufacturing of AAT products with minimum 50% Domestic Value Addition (DVA) and attract investments in the automotive manufacturing value chain.
    2. PLI Scheme for Advanced Chemistry Cell (ACC): The Government on 12th May, 2021 approved PLI Scheme for manufacturing of ACC in the country with a budgetary outlay of Rs.18,100 crore. The scheme aims to establish a competitive domestic manufacturing ecosystem for 50 GWh of ACC batteries.
    3. PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme: This scheme with an outlay of Rs.10,900 crore was notified on 29th September 2024. It is a two-year scheme which aims to support electric vehicles including e-2W, e-3W, e-Trucks, e-buses, e-Ambulances, EV public charging stations and upgradation of testing agencies.
    4. PM e-Bus Sewa-Payment Security Mechanism (PSM) Scheme: This Scheme notified on 28.10.2024, has an outlay of Rs.3,435.33 crore and aims to support deployment of more than 38,000 electric buses. The objective of scheme is to provide payment security to e-bus operators in case of default by Public Transport Authorities (PTAs).
    5. Scheme for Promotion of Manufacturing of Electric Passenger Cars in India (SPMEPCI) was notified on 15th March 2024 to promote the manufacturing of electric cars in India. This requires applicants to invest a minimum of Rs.4150 crore and to achieve a minimum DVA of 25% at the end of the third year and DVA of 50% at the end of the fifth year.

    Other Ministries of the Government of India are also taking initiatives to promote EVs such as:

    1. Road Tax Exemption: States are advised to waive road tax on EVs to reduce their initial cost.
    2. Green License Plates: Battery-operated vehicles are given green license plates and are exempted from permit requirements.

    The progress in developing necessary infrastructure for EVs, such as nation-wide charging stations is detailed below:

    1. Under Phase II of the FAME India Scheme, ₹1,000 crore was allocated for the development of charging infrastructure. MHI sanctioned ₹800 crore as capital subsidy to Oil Marketing Companies (OMCs) for establishing 7,432 public EV charging stations. Further, in March 2024, MHI sanctioned an additional ₹73.50 crore under FAME II to OMCs for upgrading 980 public fast charging stations by installing new chargers across the country. Subsidy of ₹51.45 crore has already been released to OMCs. In addition, 400 charging stations have also been sanctioned which were allotted through EOI to other entities in various states. Further, as per the information received from the Ministry of Petroleum & Natural Gas, as of 01.01.2025, OMCs have installed 4,523 number of EVCS at their Retails Outlets (ROs) under FAME-II Scheme out of which 251 EVCS have been energized. In addition to this, OMCs have set up 20,035 EVCS at their Retail outlet from their own funds as per details provided at Annexure.
    2. PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme: Under this scheme, ₹2,000 crore has been allocated for installation of EV Public Charging Stations (PCS).
    3. Ministry of Power has issued “Guidelines for Installation and Operation of Electric Vehicle Charging Infrastructure-2024”, dated 17.09.2024. These guidelines outline standards and protocols to create connected & interoperable EV charging infrastructure network, which includes Battery Swapping/Charging stations. The salient features of the guidelines are as follows:
    1.  Setting up of Charging Stations declared as a delicensed activity.
    2. DISCOMs to provide electricity connections up to 150 kW with expedited timelines and clear Standard Operating Procedure (SOP) to charging stations.
    3. Public land offered to Government/Public entity on a revenue-sharing model at Rs.1.0/ kWh for 10 years; and public land allocation to private entities via bidding with the same floor price (i.e. Rs.1.0 / kWh).
    4. Public tendering involving government land for setting up of charging station shall be technology agnostic.
    5. State Governments to ensure necessary permissions for round the clock operations.
    6. Provision of a single-part tariff capped at Average Cost of Supply (ACoS) till 31.03.2028, with a 30% discount during solar hours and a 30% surcharge during non-solar hours.
    7. Operators to provide data for mapping of charging stations on EV Yatra portal.

     

    1.  Green Energy Open Access Rules, 2022: The Ministry of Power notified these rules to accelerate renewable energy adoption, ensuring access to affordable and reliable green energy.
    2. Amendment of Model Building Bye-Laws: The Ministry of Housing and Urban Affairs has amended building bye-laws to include charging stations in private and commercial buildings.

    This information was given by the Minister of State for Steel and Heavy Industries, Shri Bhupathiraju Srinivasa Varma in a written reply in the Rajya Sabha.

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                ANNEXURE

    Details of EVCS installed / energized by PSU OMCs in States / UTs

    S. N.

    State/ UTs

    EV Charging Stations under FAME-II Subsidy Scheme

    Total No. of EV charging stations installed by OMCs from their own funds as on 01.01.2025

    No. of EV Charger installed as on 01.01.2025

    No. of EV Charging Stations energized as on 01.01.2025

     

    1

    Andaman & Nicobar

    0

    0

    6

    2

    Andhra Pradesh

    354

    20

    912

    3

    Arunachal Pradesh

    2

    0

    52

    4

    Assam

    83

    2

    448

    5

    Bihar

    58

    2

    517

    6

    Chandigarh

    0

    0

    23

    7

    Chhattisgarh

    30

    1

    498

    8

    Delhi

    41

    5

    316

    9

    Goa

    9

    0

    70

    10

    Gujarat

    312

    50

    1104

    11

    Haryana

    366

    3

    1068

    12

    Himachal Pradesh

    21

    0

    136

    13

    Jammu & Kashmir

    23

    0

    170

    14

    Jharkhand

    116

    0

    349

    15

    Karnataka

    370

    3

    1516

    16

    Kerala

    208

    0

    679

    17

    Ladakh

    0

    0

    11

    18

    Lakshadweep

    0

    0

    1

    19

    Madhya Pradesh

    154

    6

    1114

    20

    Maharashtra

    431

    121

    1595

    21

    Manipur

    8

    0

    57

    22

    Meghalaya

    25

    0

    54

    23

    Mizoram

    2

    0

    16

    24

    Nagaland

    10

    0

    41

    25

    Odisha

    114

    0

    661

    26

    Puducherry

    7

    1

    27

    27

    Punjab

    151

    2

    828

    28

    Rajasthan

    351

    7

    1482

    29

    Sikkim

    1

    0

    12

    30

    Tamil Nadu

    444

    6

    1448

    31

    Telangana

    238

    1

    1051

    32

    Tripura

    1

    0

    55

    33

    Uttar Pradesh

    269

    10

    2561

    34

    UT of Dadar and Nagar Haveli and Daman and Diu

    3

    0

    12

    35

    Uttarakhand

    41

    4

    212

    36

    West Bengal

    280

    7

    933

    TOTAL

    4523

    251

    20035

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  • MIL-OSI Asia-Pac: FAME PHASE-II SCHEME

    Source: Government of India (2)

    Posted On: 13 FEB 2025 5:06PM by PIB Delhi

    Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) Scheme Phase-II was implemented for a period of five years from 1st April, 2019 with a total budgetary support of Rs. 11,500 crore. The scheme-incentivized e-2Ws, e-3Ws, e-4Ws, e-buses and EV public charging stations. Under FAME India Scheme Phase-II, as on 31.12.2024, the following number of electric vehicles (EV) have been supported : –

    Sl. No.

    EV Segment

    Total No. of EVs supported

    1.

    2 wheeler

    14,28,009

    2.

    3 wheeler

    1,64,180

    3.

    4 wheeler

    22,548

    Total

    16,14,737

    MHI has implemented the following schemes on pan-India basis to strengthen electric vehicle (EV) ecosystem and accelerate adoption of electric vehicle in the country.

    1. Production Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry in India (PLI-Auto): The Government approved this scheme on 23rd September 2021 for Automobile and Auto Component Industry in India for enhancing India’s manufacturing capabilities for advanced automotive technology (AAT) products with a budgetary outlay of ₹25,938 Crore. The scheme proposes financial incentives to boost domestic manufacturing of AAT products with minimum 50% Domestic Value Addition (DVA) and attract investments in the automotive manufacturing value chain.
    2. PLI Scheme for Advanced Chemistry Cell (ACC): The Government on 12th May, 2021 approved PLI Scheme for manufacturing of ACC in the country with a budgetary outlay of Rs.18,100 crore. The scheme aims to establish a competitive domestic manufacturing ecosystem for 50 GWh of ACC batteries.
    3. PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme: This scheme with an outlay of Rs.10,900 crore was notified on 29th September 2024. It is a two-year scheme which aims to support electric vehicles including e-2W, e-3W, e-Trucks, e-buses, e-Ambulances, EV public charging stations and upgradation of testing agencies.
    4. PM e-Bus Sewa-Payment Security Mechanism (PSM) Scheme: This Scheme notified on 28.10.2024, has an outlay of Rs. 3,435.33 crore and aims to support deployment of more than 38,000 electric buses. The objective of scheme is to provide payment security to e-bus operators in case of default by Public Transport Authorities (PTAs).
    5. Scheme for Promotion of Manufacturing of Electric Passenger Cars in India (SPMEPCI) was notified on 15th March 2024 to promote the manufacturing of electric cars in India. This requires applicants to invest a minimum of Rs.4150 crore and to achieve a minimum DVA of 25% at the end of the third year and DVA of 50% at the end of the fifth year.

    This information was given by the Minister of State for Steel and Heavy Industries, Shri Bhupathiraju Srinivasa Varma in a written reply in the Rajya Sabha.

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  • MIL-OSI Asia-Pac: E-MOBILITY PROMOTION SCHEME 2024

    Source: Government of India (2)

    Posted On: 13 FEB 2025 5:05PM by PIB Delhi

    Yes, Electric Mobility Promotion Scheme (EMPS) 2024 notified vide Gazette Notification 1334 (E) dated 13.03.2024 was launched with an aim to provide further impetus to the green mobility and development of electric vehicle (EV) manufacturing eco-system in the country. The scheme has since been subsumed in the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme which was notified vide Gazette Notification 4259 (E) dated 29.09.2024. The PM E-DRIVE scheme’s duration is till 31.03.2026. The scheme intends to provide subsidy to over 28 lakh EVs including e-2Ws, e-3Ws, e-trucks, e-ambulances and e-buses, which will reduce India’s dependence on fossil fuels and mitigate carbon emissions.

    PM E-DRIVE scheme is being implemented on pan-India basis, covering both rural and marginalized areas of the country.

    This information was given by the Minister of State for Steel and Heavy Industries, Shri Bhupathiraju Srinivasa Varma in a written reply in the Rajya Sabha.

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  • MIL-OSI Asia-Pac: CONTRIBUTION OF PM E-DRIVE SCHEME IN GROWTH OF EV ECOSYSTEM

    Source: Government of India (2)

    Posted On: 13 FEB 2025 5:03PM by PIB Delhi

    The Government of India has notified ‘PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme’ on 29.09.2024 to provide impetus to the green mobility & development of EV manufacturing eco-system in the country. The scheme has an outlay of  ₹10,900 crore over a period of two years from 01.04.2024 to 31.03.2026. The Electric Mobility Promotion Scheme (EMPS) 2024 implemented for the period of six months from 01.04.2024 to 30.09.2024, is subsumed in PM E-DRIVE scheme.

    Salient features of PM E-DRIVE scheme:

    i.    Introduction of E- Vouchers: – The Ministry of Heavy Industry (MHI) has introduced E-vouchers for Electric vehicle buyer to avail the demand incentive under the scheme.

    ii.   Introduction of new vehicle segments: – An allocation ₹500 crore each has been done for deployment of e-ambulances and e-trucks under the scheme. This is new initiative  to promote the use of e-ambulances for a comfortable patient transport. Similarly, e-trucks have also been introduced under the scheme.

    iii.  Upgradation of testing agencies: ₹780 Crore has been earmarked for upgradation of vehicles testing agencies.
    The scheme has following three components:

    i.     Subsidies: ₹3,679 crore as demand incentives for e-2W, e-3W, e-ambulances, e-trucks & other new emerging EV categories.

    ii.    Grants: ₹7,171 crore for creation of capital assets i.e., e-buses, establishment of network of charging stations & upgradation of vehicle testing agencies identified under this scheme.

    iii.  Administration of Scheme including IEC (Information, Education & Communication) activities and fee for project management agency (PMA).

    The PM E-DRIVE scheme aims to boost demand for electric vehicles (EVs) through various incentives detailed below:

    i.  Demand Incentives: These incentives directly reduce the upfront cost of EVs for consumers at the point of purchase. The government reimburses the incentive amount to the Original Equipment Manufacturers (OEMs).

    ii.   Financial Support for Charging Infrastructure: The scheme allocates ₹2,000 crore for establishing public charging infrastructure for various vehicle categories.

    iii.  Grants for Capital Assets: The scheme has provisions of ₹4,391 crore as grants to support deployment of 14,028 e-buses and ₹780 crore as grants for the upgradation of vehicle testing agencies identified under the scheme.

    Yes, there is mechanisms in place to monitor and assess the implementation of the PM E-DRIVE scheme. Project Implementation and Sanctioning Committee (PISC), an inter-ministerial empowered committee, headed by the Secretary of Heavy Industries, is constituted for overall monitoring, sanctioning, and implementation of the PM E-DRIVE scheme. This committee is also responsible for removing any obstacles or difficulties that may arise during implementation.

    This information was given by the Minister of State for Steel and Heavy Industries, Shri Bhupathiraju Srinivasa Varma in a written reply in the Rajya Sabha.

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  • MIL-OSI Asia-Pac: Speech by SCED at HKGCC Chinese New Year Dinner 2025 (English only)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at the HKGCC Chinese New Year Dinner 2025 today (February 13):
     
    Agnes (Chairman of the Hong Kong General Chamber of Commerce, Ms Agnes Chan), Commissioner Pan Yundong (Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the Hong Kong Special Administrative Region (HKSAR)), Deputy Director-General Zhou Qiang (Deputy Director-General of the Economic Affairs Department and Head of the Commercial Office of the Liaison Office of the Central People’s Government (LOCPG) in the HKSAR), Deputy Director-General Xu Xiaolin (Deputy Director-General of the Coordination Department of the LOCPG in the HKSAR), distinguished guests, ladies and gentlemen,
     
         Good evening. It gives me great pleasure to join you all tonight. This festive occasion gives us a time to reflect on the past year and look forward with hope to the new one.
     
         In 2024, Hong Kong demonstrated to the world our resilience in times of uncertainties. Our city is ranked as the world’s third-largest financial centre, the world’s freest economy, and is at the fifth place in the global competitiveness ranking. We now have nearly 10 000 companies from the Mainland and overseas, as well as 4 700 start-ups. Both numbers are the highest that we have ever seen. These are signs of confidence in Hong Kong’s status as a prime business destination.
     
         But challenges will keep coming. In addition to conflicts in Europe and the Middle East, we also need to brace the rapid changes in the operating environment. The United States (US)’ imposition of tariffs will affect many economies and companies. On this, the HKSAR Government strongly disapproves. It rattles the fundamentals of a rule-based multilateral trade system, which took the whole world decades to build. As far as the tariffs on Hong Kong are concerned, we have decided to file a complaint to the World Trade Organization. We have always been a staunch supporter of free trade, and we will continue to hold tight to our beliefs.
     
         Risk management is key to a successful business. I am sure many of you saw the uncertainties coming from years ago. I was told that a lot of companies have already modified their business plans, the supply chains, asset distributions, etc, in anticipation of the changing external environment. I encourage you to continue to do the same.
     
         For Hong Kong, this term of Government attaches a lot of importance to exploring new markets. The US and Europe are traditionally among our largest trading partners, and they will probably continue to be so. We are happy with the businesses that we do with each other, which are mutually beneficial. But more importantly, we must not lose sight of the business potential in other markets. The Association of Southeast Asian Nations (ASEAN), for example, if taken as a bloc, is now Hong Kong’s second-largest trading partners. Other emerging regions, such as the Middle East, are also catching up fast.
     
         In the past two years or so, we have led business delegations to ASEAN and the Middle East. We will continue to do so in the coming year. We will also step up our efforts to forge new trade and investment agreements with rising trading partners. Increasing our trade and investment with new markets will inject new impetus into Hong Kong’s economy. It will also help us mitigate the risks arising from geopolitics.
     
         Looking closer to home, we spare no efforts to drive changes to our economic structure. The Government sees the need to develop silver economy. The growing elderly population in Hong Kong is becoming an important consumer group, creating considerable demand for such products and services as medical and healthcare, leisure and recreation, and home and personal care catered for the elderly. These products and services also enhance the quality of life for the elderly of Hong Kong, which is equally important for us.
     
         We also encourage Hong Kong companies to embrace electronic commerce (e-commerce). This is a global trend in consumption pattern that is irreversible. To help our small and medium enterprises to upgrade their business models, we launched the “E-commerce Easy” under the Dedicated Fund on Branding, Upgrading and Domestic Sales last year to provide funding support. The Hong Kong Trade Development Council, the HKTDC, also organised the first Hong Kong Shopping Festival to showcase consumer products and brands on Mainland e-commerce platforms. The Festival was a huge success. We will organise the second edition this year. The HKTDC will also step up efforts in providing advisory support to enterprises in need when exploring the e-commerce market.
     
         I spent all my life in Hong Kong. In my entire career, I witnessed Hong Kong going through ups and downs. The world today is so different than the world I was in when I was in my twenties. One of Hong Kong’s biggest appeal is the “can-do” spirit of Hong Kong people. We are flexible, adaptive, determined, forward-looking, and we fight hard. We will rise above the challenges and come out on top.
     
         I would like to thank the Hong Kong General Chamber of Commerce for all the good you do to our business community. As we enter the Year of the Snake, let us draw inspiration from its attributes of versatility, intelligence and agility, and work together to build a better future for Hong Kong. I wish you all a year with good health, success and happiness. Thank you.

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  • MIL-OSI Asia-Pac: Controlling transport of particles near absolute zero temperature, key ingredients for designing smart materials

    Source: Government of India (2)

    Posted On: 13 FEB 2025 4:11PM by PIB Delhi

    Researchers have observed the distinct transport properties of ultra-cold atoms in a quantum system and studied their behaviour upon sudden exposure to light pulse. This understanding holds potential towards the design and development of smart & high conducting materials, including components for the next-generation batteries.

    Cold atoms, or atoms that have been cooled to extremely low temperatures near to absolute zero, are excellent candidates for performing precision measurements. Quantum transport includes the study of the charge and energy flow within systems where quantum effects dominate. Relevant phenomena include quantum tunneling that is vital in flash memory devices; quantized conductance which is critical for designing nanoscale electronic devices and quantum point contacts.

    In a classical charge transport, as in case of present-day batteries, it is a straightforward flow of electrons. What distinguishes quantum charge transport from classical charge transport is that the former directly incorporates quantum statistical principles. That is why, the understanding of the transport and diffusion properties of these trapped ultra-cold atoms, when they are subjected to externally-controlled laser tuning, is vital. In order to conduct the experiment, the atoms have to be trapped, else they will wander off according to their kinetic energy. Furthermore, it could potentially help in designing smart materials that are efficient, customisable and ones that offer high conductivity.

    A team from the Raman Research Institute, an autonomous institute funded by the Department of Science and Technology (DST), Government of India, attempted to decode the quantum transport properties of neutral potassium atoms at ultra-low temperatures.

    The experiment was performed in two separate sequences and two different settings with the 3D trapping beams kept switched on throughout the experiment. In the first setting, laser-cooled potassium atoms, confined within a Magneto-Optical Trap (MOT), were exposed only to a driving laser beam. The MOT uses laser cooling and a spatially varying magnetic field to trap and cool neutral atoms to extremely low temperatures. In the second setting, along with the driving beam, another laser beam was shone on the atoms. In both the scenarios, the behaviour of sodium atoms were tracked.

    “In our experiment, the role of the electrons in a conducting metal is played by neutral atoms that are laser cooled to micro-kelvin (near absolute zero) temperature. By observing their transport properties and responses to an externally tunable inter-atomic interaction, we noticed that transport properties got fundamentally modified,” said Saptarishi Chaudhuri, head, Quantum Mixtures (QuMIX) lab at RRI.

    Typically, under such a scenario, the atoms are expected to oscillate just like a pendulum.

    “Instead, we noted a dramatic change in the motion, from an overdamped oscillation to an underdamped oscillation. This was possible due to the interactions between the atoms and the photons” he said.

    This is because when the driving laser beam was momentarily applied on the trapped atoms, it could displace the cloud of cold atoms. Soon after, it mimicked the dynamics of a damped harmonic oscillator due to increase in oscillation frequency. Subsequently, the atoms were also subjected to another intense laser light near a photoassociation (PA) resonance — known to modify the interatomic interactions.

    “When a sudden displacement was applied to the atomic cloud, we observed that it underwent collective oscillations in the presence of these interactions — an outcome that was both surprising and at first counter-intuitive,” said Anirban Misra, PhD students and lead author  of the paper published in the journal Optics Letters.

    Photoassociation, they said, is a process through which the atoms combine to form a short lived molecule leading to trap loss and recapture of the involved atoms. “Tuning interatomic interactions in cold atoms enables us to explore exotic quantum dynamics,” said Sanjukta Roy, another co-author of the study. 

    A comprehensive theoretical model developed by Supurna Sinha and Urbashi Satpathy, also collaborating authors of this work, has taken into account the photoassociation resonance significantly enhances the interaction strength among the atoms, thereby allowing them to introduce a novel method for detecting molecular resonances.

    Depending on the control parameters of the experiment, that is, the power of the various laser lights and the strength of the magnetic field gradient in the MOT, it was possible to tune the dynamics as per required, the experimentalists said.

    With more detailed studies, one could get better insights into transport properties of any quantum systems in response to tunable interactions, the RRI researchers said.

    Link – Optics Letters, Vol. 49, issue 15, pp 4377 (2024) [ https://doi.org/10.1364/OL.532095 ]

    Fig 1. Types of oscillations experienced by trapped ultra-cold neutral atoms

     

    Fig 2. Short-lived molecule formed in the presence of PA beam

    Fig 3. Effect on oscillation in absence (L) and in presence (R) of PA beam

     

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  • MIL-OSI Asia-Pac: PARLIAMENT QUESTION: DEEP OCEAN MISSION

    Source: Government of India (2)

    Posted On: 13 FEB 2025 3:53PM by PIB Delhi

    The Ministry of Earth Sciences, through the National Institute of Ocean Technology (NIOT), Chennai, is developing a manned submersible ‘Matsya 6000’, which aims to carry three people to a depth of 6000 meters in the ocean with a suite of scientific sensors for ocean exploration and observation. The manned submersible Matsya 6000 is likely to be realised by 2026.

    The technologies developed under the Deep Ocean Mission will expand the country’s capability for deep-sea man-rated vehicle development and pave the way for sustainable deep-sea exploration and harnessing of deep-sea living and non-living resources. The deep-sea exploration includes biodiversity, survey and mineral resources. Apart from the benefits of scientific research and technological empowerment, this mission has immediate spin-offs in underwater engineering innovations, asset inspection and the promotion of ocean literacy.

    Under the Deep Ocean Mission, a manned submersible Matsya 6000 is being developed to house a 2.1-metre internal diameter Titanium alloy personnel sphere for safely carrying humans to a 6000 m depth. The Titanium alloy personnel sphere is being integrated in collaboration with ISRO.  The manned submersible is to be equipped with subsystems for buoyancy management enabling descent/ascent, power, and control systems, maneuvring propellers, subsea intervention manipulators, navigation and positioning devices, data and voice communication systems, on-board energy storage batteries, as well as systems for emergency support. It is designed to enable continuous operations at 6000 m depth for up to 12 hours with an emergency endurance of up to 96 hours for conducting deep water observation and exploration. Human Support and Safety System, which is a critical need for three humans, has been realized for the acclimatization and usage during routine and emergency scenarios. The deep-sea activities, exploration of deep-sea living and non-living resources, are being undertaken in accordance with the guidelines of UN governing bodies. The development of ocean climate change advisory services relies on robust data acquisition and analysis for deriving projections of sea level change, intensity of cyclone, storm surge, and waves and their impacts on associated coastal erosion and inundation in the projected climate. The acquisition of a multidisciplinary research vessel is in progress. Expansion of capacity building in marine biology in the country is also being prioritized by setting up a dedicated Advanced Marine Station for Ocean Biology (AMSOB).

    This information was given by Union Minister of State (Independent Charge) for Science & Technology and Earth Sciences, Dr. Jitendra Singh in a written reply in the Rajya Sabha today.

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  • MIL-OSI Asia-Pac: Special traffic arrangements for 15th National Games athletics (marathon) test event

    Source: Hong Kong Government special administrative region

    Special traffic arrangements for 15th National Games athletics (marathon) test event
    Special traffic arrangements for 15th National Games athletics (marathon) test event
    ************************************************************************************

         Police will implement special traffic arrangements to facilitate the 2025 Shenzhen-Hong Kong marathon and the 15th National Games athletics (marathon) test event to be held on February 23 (Sunday).Shenzhen Bay Port—————–      To ensure the smooth running of the race, clearance services at Shenzhen Bay Port will be suspended, and temporary control measures will be implemented at Shenzhen Bay Bridge, Kong Sham Western Highway and Ha Tsuen Interchange from 2am to about 11am. These will be closed to all traffic from eastbound and westbound Yuen Long Highway, and Ha Tsuen Road.      During the suspension of clearance services, cross-boundary goods vehicles and private cars holding valid permits for the Shenzhen Bay Port may divert to Lok Ma Chau/Huanggang Port, Man Kam To Port and Heung Yuen Wai Port as instructed. Traffic is expected to be relatively busy for roads leading to Lok Ma Chau/Huanggang Port and Lok Ma Chau Station (Futian Port), including San Tin Interchange, San Sam Road and Lok Ma Chau Road.      Clearance services at Shenzhen Bay Port are anticipated to resume at around 11am, at which time traffic is expected to be relatively busy. Travellers and drivers planning to use the port on that day are advised to plan their journeys ahead and reserve sufficient commuting time. Shenzhen Bay Boundary Control Point———————————-      After the clearance services at Shenzhen Bay Port resume normal, the following arrangements will be implemented by phases depending on traffic conditions: Phase I      All vehicles will use the existing driving routes to enter the boundary control point. Phase II – The traffic arrangements for goods vehicles remain unchanged. They will continue to enter the holding area awaiting clearance through the goods vehicle lanes;- Public transport vehicles, including cross-boundary buses, franchised buses, green minibuses and taxis will continue to enter the boundary control point through the passenger vehicle lanes; and- Cross-boundary private cars must keep left on the Shenzhen Bay Bridge and then enter the designated waiting area through the goods vehicle lanes. Private cars will queue up and await further instructions to proceed to the clearance area for departure procedures. Lok Ma Chau Boundary Control Point———————————-      Depending on traffic conditions, the following arrangements will be implemented by phases: Phase I      All vehicles will use the existing driving routes to enter the boundary control point. Phase II – The traffic arrangements for cross-boundary private cars and goods vehicles remain unchanged. They will enter the boundary control point through the passenger vehicle lanes via San Tin Interchange or the goods vehicle lanes respectively;- Public transport vehicles including cross-boundary buses, green minibuses and taxis will use the goods vehicle lanes on eastbound San Tin Highway or westbound Fanling Highway to enter the goods vehicle holding area via San Sham Road;- Lok Ma Chau – Huanggang cross-boundary shuttle buses will enter Castle Peak Road after leaving Lok Ma Chau Public Transport Interchange, and will be instructed to turn right to the goods vehicle lanes of San Sham Road to enter the goods vehicle holding area; and- Vehicles in the goods vehicle holding area will be instructed to proceed to their respective drop-off areas. Phase III – In addition to the traffic arrangements implemented in Phase II, cross-boundary private cars will be instructed to enter the designated waiting area; and- Vehicles in the designated waiting area will be instructed to proceed to the clearance area for departure procedures.      Motorists are advised to avoid driving to above areas during the specified hours. Road users are advised to exercise patience and drive with care, and follow the instructions of the Police on site.

     
    Ends/Thursday, February 13, 2025Issued at HKT 18:19

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