Category: Commerce

  • MIL-OSI Global: Donald Trump’s policies are more than dumb — they’re stupid, according to stupidity researchers

    Source: The Conversation – Canada – By Jerry Paul Sheppard, Associate Professor of Business Administration, Simon Fraser University

    Before he stepped down as Canadian prime minister, Justin Trudeau called Donald Trump’s tariff policies “very dumb.” This might be an accurate description of many Trump administration policies — but the more objectively correct word is “stupid.”

    In fact, Québec’s largest newspaper, Le Journal de Montréal, published a front-page photo of Trump in early February with the word “stupid” in 350-point type. Some may call this an opinion, but the science of stupidity tells us that it’s more of a definition.

    Recent research has produced a succinct label for the poorly calculated actions of decision-makers: stupidity.

    This is not simple name-calling, but a phenomenon that comprises loss and features a set of actions that are either outright recognizably dysfunctional, or appear so at odds with any sensible course of action that it seems a hidden agenda could be involved.

    Stupidity that causes everyone to lose

    According to the seminal and transactional view of human stupidity by Carlo Cipolla, the late Italian economic historian, interactions fall into four categories:

    1. Intelligent interactions that are beneficial to all – a positive-sum game like Scottish philosopher Adam Smith’s notion of wealth through specialization and trade;

    2. Helpless interactions that result in a loss in a zero-sum game;

    3. Bandit interactions that result in a gain in zero-sum game;

    4. Stupid interactions that cause all parties to suffer a loss.

    Free trade is based on an intelligent positive-sum interaction. Trump’s transactional zero-sum view is that for every winner there is a loser.

    He apparently doesn’t understand that tariffs are only successful if other countries don’t retaliate. But other countries do retaliate, and as the world is now witnessing, the resulting trade war can decimate the global economy.

    Trump’s protectionist measures aimed at boosting the U.S. economy can therefore be considered “stupid” interactions that deepen and lengthen economic depression.

    Stupidity as recognizable actions

    Modern-day researchers have also identified three recognizable sets of actions embodying stupidity:

    Confident ignorance that involves people taking risks without having the necessary skills to deal with them. It’s not just being ignorant of one’s ignorance — explained by the Dunning-Kruger effect — but being self-assured despite contrary evidence.

    Trump may know what he does not know, so he delegated many tasks to Tesla founder Elon Musk and trade tariff architect Pete Navarro, both of whom seem to possess no such awareness.

    Absent-minded failure means people knew the right thing to do but were not paying sufficient attention to avoid doing something stupid. Organizations create agendas, but if issues don’t reach a point where they seriously impact the organization’s objectives, they are ignored.

    An example is the recent U.S. strikes against Yemeni Houthis. U.S. officials ignored critical security components by sharing information about their plans over unsecure connections and with a member of the media.




    Read more:
    ‘Signalgate’ was damaging to the Trump administration. It could be deadly for Yemeni civilians


    Lack of control means that autocratic decision-makers compromise their organizations by failing to accept objections from those charged with implementing the leader’s preconceived plans.

    Such autocratic decision-makers may select biased information to support their proposals. Those working under these leaders either buy into efforts to selectively use information, limit alternatives and execute these preconceived plans or they leave the organization (either voluntarily or not).

    In the U.S., witness the firing of Justice Department pardon attorney Elizabeth Oyer. She failed to support restoring gun rights to actor Mel Gibson, who had been convicted of domestic violence in 2011. Gibson’s pardon was reportedly based on his personal relationship with the president.

    Types of stupidity

    Organizational researchers have used the term functional stupidity to describe those who refuse to use their intellectual capacities when making decisions and then avoid justification for their actions. This allows group members to quickly execute routine functions without much thought.

    Dysfunctional stupidity is a lack of organizationally supported reflection, reasoning and justification. Organizations fail to use intellectual resources to process knowledge or question norms or claims of knowledge when confronted with new or non-routine decisions. By blocking communications, muffling criticism and squelching doubts, organizations ensure adherence to superiors’ edicts.

    One Trump administration example is the unquestioning permission given to allow the Department of Government Efficiency (DOGE), headed by Musk, to access to a wide array of government data.

    It can take the combined efforts of organizational officials on multiple levels to maintain stupidity.

    Individually, stupidity is reinforced by ignoring crucial information because of a need for a rapid response.

    Consequently, quick decisions and shortcuts made by individuals result in negative outcomes. An example would be the Trump administration’s apparent need to appear to find cost savings quickly to allow for tax cuts, overriding a more logical approach to find ways to achieve those savings without gutting legally mandated services.

    Organizationally, stupidity is reinforced because organizations limit acceptable alternative behaviours when they cannot process all available information. Data is restricted, controls are tightened and organization officials fall back to using previously well-learned responses in their comfort zones. Inexperienced decision-makers fall back on uninformed assumptions, or no assumptions at all.

    Witness Trump’s “reciprocal” trade tariffs currently decimating financial markets worldwide. No tariffs were calculated using current tariff rates, while others were based on American trade deficits with other countries. Other tariffs seem to be based on no rationale at all.




    Read more:
    No, that’s not what a trade deficit means – and that’s not how you calculate other nations’ tariffs


    Stupidity as a hidden agenda?

    Some actions that appear stupid may simply hide a hidden agenda. When the Trump administration erroneously detains and deports anyone under the Alien Enemies Act, is it an accident or a way to instil fear in everyone that authorities can detain, mistreat and deport them without due process at any point?

    Many of the actions being taken by the Trump administration appear stupid.
    Tariffs, for example, represent a loss — a transactionally negative sum game.

    Trump’s decisions exhibit confident ignorance, absent-minded failure and lack of control. They also show dysfunctional stupidity as Trump officials seemingly refuse to use their full intellectual resources. Stupidity is also being reinforced through unfounded assumptions. Is this all hiding a secret agenda?

    “You can’t fix stupid,” so the saying goes. But having capable administrators in place while other branches of government exercise their constitutionally mandated oversight role might dampen some of the Trump administration’s stupidity.

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

    ref. Donald Trump’s policies are more than dumb — they’re stupid, according to stupidity researchers – https://theconversation.com/donald-trumps-policies-are-more-than-dumb-theyre-stupid-according-to-stupidity-researchers-253009

    MIL OSI – Global Reports

  • MIL-OSI: Lantronix Ranks 8th on Orange County Business Journal’s List of Fastest-Growing Midsize Public Companies

    Source: GlobeNewswire (MIL-OSI)

    IRVINE, Calif., April 09, 2025 (GLOBE NEWSWIRE) — Lantronix Inc. (NASDAQ: LTRX), a global leader of compute and connectivity for IoT solutions enabling Edge AI Intelligence, today announced it has been named the 8th Fastest-Growing Midsize Public Company in Orange County, Calif., by the Orange County Business Journal. Rankings are based on each company’s two-year revenue growth from 2022 to 2024. Lantronix grew 22 percent during this period, reporting revenues of $160.3 million for the 12 months ended Dec. 30, 2024.

    “We are honored to be ranked 8th on the OCBJ’s annual ranking of the Fastest-Growing Midsize Public Companies,” said Saleel Awsare, chief executive officer and president at Lantronix. “This validation is a credit to the support of our dedicated team as well as our exceptional technology and channel partners that have enabled us to bring exceptional, breakthrough solutions to market, driving forward our presence in AI, Edge Computing, Industry 4.0, IIoT and Out-of-Band Management.”

    To fuel its strategic growth in 2025 and beyond, Lantronix’s has recently hired seasoned industry leaders to expand and scale its presence as a global leader in compute and connectivity. For details, visit the Lantronix press releases webpage.

    Lantronix is the winner of many corporate and industry awards, including the 2025 IoT Breakthrough Awards IoT CEO of the Year Award for its CEO, Saleel Awsare. Lantronix also ranked on the prestigious 2025 CRN® Internet of Things (IoT) 50 list and won industry awards including the 2024 IoT Evolution Asset Tracking Award, the 2024 IoT Evolution Business Impact Award and the 2024 IoT Evolution Product of the Year Award.

    About Lantronix

    Lantronix Inc. is a global leader of compute and connectivity IoT solutions that target high-growth markets, including Smart Cities, Enterprise and Transportation. Lantronix’s products and services empower companies to succeed in the growing IoT markets by delivering customizable solutions that enable AI Edge Intelligence. Lantronix’s advanced solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management (OOB) for Cloud and Edge Computing.

    For more information, visit the Lantronix website.

    “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements within the meaning of federal securities laws, including, without limitation, statements related to Lantronix products or leadership team. These forward-looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to the COVID-19 pandemic or other outbreaks, wars and recent tensions in Europe, Asia and the Middle East, or other factors; future responses to and effects of public health crises; cybersecurity risks; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2024, filed with the Securities and Exchange Commission (the “SEC”) on Sept. 9, 2024, including in the section entitled “Risk Factors” in Item 1A of Part I of that report, as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. In addition, actual results may differ as a result of additional risks and uncertainties about which we are currently unaware or which we do not currently view as material to our business. For these reasons, investors are cautioned not to place undue reliance on any forward-looking statements. The forward-looking statements we make speak only as of the date on which they are made. We expressly disclaim any intent or obligation to update any forward-looking statements after the date hereof to conform such statements to actual results or to changes in our opinions or expectations, except as required by applicable law or the rules of the Nasdaq Stock Market LLC. If we do update or correct any forward-looking statements, investors should not conclude that we will make additional updates or corrections.

    Lantronix Media Contact:        
    Gail Kathryn Miller
    Corporate Marketing &
    Communications Manager
    media@lantronix.com

    Lantronix Analyst and Investor Contact:        
    investors@lantronix.com

    ©2025 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners.

    The MIL Network

  • MIL-OSI Banking: US tariffs on Vietnamese imports trigger strategic pivot as growth forecast trimmed to 6.5% for 2025: GlobalData

    Source: GlobalData

    US tariffs on Vietnamese imports trigger strategic pivot as growth forecast trimmed to 6.5% for 2025: GlobalData

    Posted in Business Fundamentals

    Following the news that the 10% US import tariff, including a 46% hike specifically targeting Vietnamese goods, will take effect on 09 April 2025;

    Annapurna Pillutla, Analyst, Economic Research at GlobalData, a leading data and analytics company, offers her view:

    “In response to the US tariffs, Vietnam reaffirmed its commitment to fair trade and transparency. Diplomatic engagement has been stepped up, with efforts to negotiate exemptions and clarify Vietnam’s trade and monetary policies. Vietnam is eliminating tariffs on US imports following Trump’s announcement of a 46% levy. Vietnam also proposed zero tariffs on the US goods and requested a delay of 45 days in tariff implementation, aiming for a mutually beneficial agreement.

    “Vietnam’s economy is heavily dependent on the export of goods and services, which constitute nearly 100% of its GDP. In 2024, goods exports to the US amounted to $136.6 billion, representing 30.1% of Vietnam’s GDP. The sharp escalation in tariffs on Vietnamese imports signals a critical juncture in Vietnam-US trade dynamics. Given the US accounts for close to a third of Vietnam’s GDP through goods exports, the latest measures introduce significant downside risks, particularly to export-reliant industries such as textiles and footwear, where cost pressures and competitive positioning are already under strain. “Against this backdrop, GlobalData has revised the forecast of Vietnam’s GDP growth to 6.5% in 2025, down from 6.7%, as demand from one of its largest trading partners softens.

    “This development is expected to fast-track Vietnam’s strategic shift toward economic diversification. Beyond intensified trade negotiations, the government is now likely to double down on initiatives to attract high-value foreign investment, scale up digital capabilities in manufacturing, and strengthen bilateral trade ties with economies in the EU, India, and Latin America. Over time, such moves could reduce Vietnam’s exposure to single-market volatility and set the foundation for more resilient and balanced growth.”

    MIL OSI Global Banks

  • MIL-OSI Banking: Top 25 global insurers market value up 17% YoY in Q1 2025, reveals GlobalData

    Source: GlobalData

    Top 25 global insurers market value up 17% YoY in Q1 2025, reveals GlobalData

    Posted in Business Fundamentals

    • PICC Property and Casualty and Assicurazioni Generali shares surge 40%
    • Elevance Health and Cigna Group lose over 15%
    • Berkshire Hathaway retains top spot

    The aggregate market capitalization (MCap) of the top 25 global insurers grew 17% to $3.5 trillion year-on-year (YoY) during the first quarter (Q1) ended on 31 March 2025. Most of the stocks recorded a sharp growth in Q1, benefiting from the higher premium pricing amid inflationary trends, improved investment income driven by elevated interest rates, and favorable underwriting performance due to fewer large-scale catastrophic events in the period, according to GlobalData, a leading data analytics and research company.

    Murthy Grandhi, Company Profiles Analyst at GlobalData, comments: “The global insurance industry showed signs of recovery in early 2024, with property and casualty insurers implementing premium increases to counter inflation and rising natural disaster claims, while life insurers continued adapting to shifting interest rate environments. The sector accelerated digital transformation efforts through AI and automation investments, expanded parametric insurance offerings for climate risks, and focused on customer experience improvements.”

    PICC Property and Casualty

    PICC P&C, the largest non-life insurance company in mainland China, shares registered a remarkable 40.5% growth in market value during the period, driven by strong FY2024 results on the back of strategic optimization of its motor vehicle insurance business structure with 38.8% market share in household motor vehicle insurance, coupled with accelerated growth in non-motor vehicle insurance segments and enhanced operational efficiency through technology-enabled expense management.

    Assicurazioni Generali

    Generali’s excellent 2024 results exceeded financial targets and completed the “Lifetime Partner 24” strategic plan through consistent organic growth and successful business integrations, positioning the company to pursue its new “Lifetime Partner 27” plan focusing on earnings growth, cash generation, and increased shareholder returns while leveraging AI capabilities to address evolving customer needs. Consequently, the company’s market valuation also rose by 39.5%, reaching $55.1 billion by the end of Q1 2025.

    Grandhi continues: “Berkshire Hathaway witnessed a 25.7% increase in market value attributed to its strong investment portfolio performance, particularly in energy and infrastructure assets, and resilient insurance underwriting results across GEICO and Berkshire Hathaway Reinsurance Group. Furthermore, strategic investment decisions by Warren Buffett, and investor confidence in the company’s substantial cash reserves perpetuated the stock’s upward trajectory, affirming Berkshire Hathaway’s status as a coveted asset.”

    Elevance Health and The Cigna Group saw sharp YoY declines of -18.6% and -17.0%, respectively. This downturn was largely influenced by declining enrolment in individual and group health plans, elevated medical loss ratios, and ongoing antitrust scrutiny affecting sentiment. Life Insurance Corporation of India (LIC) also fell 15.4% due to underwhelming policy growth, weak equity market returns in India and limited foreign institutional investment.

    Grandhi concludes: “Looking ahead to Q2 2025, the global insurance industry faces a nuanced outlook. The US Federal Reserve has signalled a potential pause in interest rate hikes, which could stabilize fixed-income yields and benefit life insurers’ investment portfolios. However, geopolitical developments—such as recent tariff escalations between the US and China—may pressure global trade insurance demand and raise claims risk, particularly in marine and credit insurance lines.

    “Moreover, inflationary pressures in Europe and selective tightening in Asian economies could compress margins, though they also prompt upward repricing, supporting premium growth. On the positive side, increased awareness of climate and cyber risks are expected to drive further growth in specialty insurance lines.”

    MIL OSI Global Banks

  • MIL-OSI USA: Caraluzzi’s Markets Issues Allergy Alert on Undeclared Egg in Caraluzzi’s Italian Style Seafood Burger, 8 oz

    Source: US Food and Drug Administration

    Summary

    Company Announcement Date:
    April 08, 2025
    FDA Publish Date:
    April 08, 2025
    Product Type:
    Food & BeveragesAllergens
    Reason for Announcement:

    Recall Reason Description
    Undeclared egg allergen

    Company Name:
    Caraluzzi Markets
    Brand Name:

    Brand Name(s)
    Caraluzzi’s

    Product Description:

    Product Description
    Italian Style Seafood Burgers

    Company Announcement
    Caraluzzi’s Markets of Bethel, CT is recalling 8oz Caraluzzi’s Italian Style Seafood Burgers, because it contains undeclared egg. People who have an allergy or severe sensitivity to egg run the risk of serious or life-threatening allergic reaction if they consume these products.
    The Italian Style Seafood Burger was sold in-store at Caraluzzi’s Markets locations in Bethel, Wilton, Newtown and Danbury Connecticut.
    The product comes in 8oz clear packaging with a blue overwrap label, expiration date of 01/16/2026 located on back of clear packaging, with UPC of 0-95864-80008-8. Product was sold February 18th to April 2nd 2025.
    One allergic reaction on has been reported to date.
    The recall was initiated after an investigation following a consumer complaint. It was discovered that product containing egg was distributed in packaging that did not reveal the presence of egg. The mislabeled product has been removed from sale.
    Consumers who have purchased the product are urged to return them to the place of purchase for a full refund. Consumers with questions may contact the company at customerservice@caraluzzis.com or 203-748-3547 or stop by the customer service desk at Caraluzzi’s Markets.

    Company Contact Information

    Product Photos

    Content current as of:
    04/08/2025

    Regulated Product(s)

    Topic(s)

    Follow FDA

    MIL OSI USA News

  • MIL-OSI: TransUnion Study Finds More than Half (56%) of Canadians Said They Were Targeted by Fraud in Second Half of 2024

    Source: GlobeNewswire (MIL-OSI)

    Almost One in Five (17%) Canadians Reported Losing Money Due to Fraud in Last Year with
    Median Loss of $2,013

    Gaming, Government and Communities were Most Targeted Sectors by Digital Fraudsters in Canada

    Key Study Findings:

    • 39% of Canadians surveyed said fraud concerns is the top reason why they abandon online shopping carts.
    • 46% prioritize security of personal data as the #1 quality (more than cost savings or quality of goods and services) when deciding what online company to do business with.
    • 13% report taking no action when discovering they became a victim of fraud.
    • 43% who said they were targeted by fraud involved phishing.
    • 11% of attempted digital gaming transactions (including online betting, poker, etc.) where consumer was in Canada were suspected of digital fraud in 2024.

    TORONTO, April 09, 2025 (GLOBE NEWSWIRE) — According to the newly-released TransUnion (NYSE: TRU) H1 2025 Update to the State of Omnichannel Fraud Report, more than half (56%) of 1,000 Canadians surveyed said they were targeted by fraudsters through email, online, phone call or text messaging channels from August to December 2024. Nearly one in 10 (9%) of those reporting being targeted said they fell victim to it. Furthermore, when surveyed from Nov. 21 to Dec. 6, 2024, nearly one-fifth of Canadians (17%) said they lost money due to email, online, phone call or text messaging in the past year. The number of Canadians targeted and who fell victim may be significantly higher, but people may be unaware they were targeted.

    “Our research indicates that many Canadians don’t take the proper steps if they have fallen victim to Digital Fraud,” said Patrick Boudreau, head of identity management and fraud solutions at TransUnion Canada. “These steps should include reporting the suspected fraud to your bank or credit card company to freeze accounts and changing all passwords. Consumers should also notify credit bureaus, including TransUnion, to place a fraud alert on their file, as well as report the incident to the Canadian Anti-Fraud Centre. If personal information was compromised or large sums of money were involved, it should be reported to the local police as well.”

    Fraud concerns have major influence on who Canadians choose to do business with online.
    When engaging online, concerns around security and fraud has a significant impact on Canadians’ preferences and behaviours, including when making purchases or choosing who to do business with.

    According to the survey that was part of TransUnion’s State of Omnichannel Fraud Report:

    • 91% of Canadians said having confidence that their personal data will not be compromised is important when choosing who to transact with online.
    • 46% said security of personal data is the number one consideration when deciding what company to do business with online, significantly higher than prioritizing cost savings (25%) and quality of goods and services (19%).
    • 70% said fraud concerns would cause them not to return to a website.
    • 31% said they have switched doing online transaction to another website due to fraud or security concerns.
    • 39% said fraud and/or security concerns is a top reason to abandon their online shopping cart. Conversely, 16% said having too many security steps is a top reason to abandon their online cart.
    • 35% said they have abandoned an online application for a financial or insurance product before completing it.

    While many Canadians took various actions after discovering they had become a victim of fraud, more than 1 in 10 (13%) reported no action at all.
    Among Canadians who said they fell victim to email, online, phone call or text messaging fraud from August to December 2024, they reported taking the following actions:

    • 51% contacted relevant impacted companies such as credit card issuers, retailers, etc.
    • 48% placed a freeze on their credit.
    • 29% placed a fraud alert on their credit report.
    • 16% called the police.
    • 15% contacted a company that compiles and provides credit reports.
    • 13% said they took no action.

    While Canadians were targeted by a mix of fraud schemes, phishing was the most reported kind.
    Among those who said they were targeted by email, online, phone call or text messaging fraud in the second half of last year, the most common reported method by them was phishing (43%). Phishing is when a fraudster uses an email, website, social post or QR code that appears to legitimate meant to trick a consumer into sharing personal information. Other common fraud attempt methods reported by those who said they were targeted include:

    • Smishing (40%), where fraudulent text messages try to trick recipients into revealing data.
    • Vishing (35%), where fraudulent phone calls try to induce recipients into revealing personal information.
    • Third-party seller scams on legitimate online retail websites (19%).

    Gaming, Government and Communities Were the Top 3 Industries Targeted by Digital Fraudsters in Canada.
    Gaming (including online betting, poker, etc.) had the highest rate of suspected digital fraud1 attempts where the consumer or fraudster was in Canada when transacting. Over 11% of all attempted digital gaming-related transactions were suspected of fraud in 2024, an 80% increase from 2023. This was followed by government (9%), communities which includes online dating sites and forums (7%) and video gaming (6%).

    The logistics industry, which has seen growth in shipping fraud (often perpetrated by organized crime rings), saw the greatest suspected digital fraud attempt rate and volume growth among industries analyzed, up 203% and 180% respectively for transactions from Canada YoY compared to 2023. However, the suspected digital fraud attempt rate for that industry was a relatively modest 2% in 2024. Conversely, telecommunications saw the biggest YoY suspected digital fraud attempt rate and volume decrease from 2024 (-88% and -86%) from Canada in that time period.

    Canadian Sectors that Experienced Shifts in YoY Suspected Digital Fraud in Many Cases Differed from Global Changes:

    Industry Canada suspected digital fraud attempt rate 2024 Change from 2023 Global suspected digital fraud attempt rate 2024 Global change from 2023
    Gaming (online sports betting, poker, etc.) 11.1% +80% 7.8% +20%
    Government 8.5% +21% 1.7% +6%
    Communities (online dating, forums, etc.) 7.0% -19% 11.6% +9%
    Video gaming 6.4% +15% 10.8% -23%
    Financial services 4.7% +13% 4.9% +3%
    Retail 4.6% +9% 7.6% -45%
    Insurance 3.3% +54% 2.0% -29%
    Logistics 1.9% +203% 2.6% +101%
    Telecommunications 0.3% -88% 3.0% -79%
    Travel & leisure 0.2% -26% 0.9% -38%

    Source: TransUnion TruValidate™

    “While cybercriminals will attack at any time using any channel, they appear to focus on channels most popular in the regions they are targeting,” added Boudreau. “Emails are widely used in Canadians’ personal and business lives, while many use their mobile phones for everything from work calls to ordering groceries and organizing their families’ lives. Fraudsters view these channels as the most likely way that they’ll be able to trick people into sharing personal information, which is why all Canadians need to be vigilant about responding to messages of any kind on their digital platforms.”

    TransUnion came to its conclusions about digital fraud based on intelligence from TransUnion TruValidate.

    Specific country and regional data in the report includes Canada, Botswana, Brazil, Chile, Colombia, the Dominican Republic, Guatemala, Hong Kong, India, Kenya, Mexico, Namibia, the Philippines, Puerto Rico, Rwanda, South Africa, Spain, the United Kingdom, the United States and Zambia. Download the TransUnion H1 2025 Update to the State of Omnichannel Fraud Report for more information and insights about the global fraud trends.

    About TransUnion® (NYSE: TRU)
    TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries, including Canada, where we’re the credit bureau of choice for the financial services ecosystem and most of Canada’s largest banks. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this by providing an actionable view of consumers, stewarded with care.

    Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.

    For more information visit: www.transunion.ca

    For more information or to request an interview, contact:
    Contact: Katie Duffy
    E-mail: katie.duffy@ketchum.com
    Telephone: +1 647-772-0969

    1 The rate or percentage of suspected digital fraud attempts reflects those which TransUnion customers determined met one of the following conditions: 1) denial in real time due to fraudulent indicators, 2) denial in real time for corporate policy violations, 3) fraudulent upon customer investigation, or 4) a corporate policy violation upon customer investigation — compared to all transactions assessed. The country and regional analyses examined transactions in which the consumer or suspected fraudster was located in a select country or region when conducting a transaction. Global statistics represents every country worldwide and not just the select countries and regions.

    The MIL Network

  • MIL-OSI: MEXC and BNB Chain Strengthen Ties to Empower Token Listings & Marketing

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, April 09, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency exchange, announced a collaboration with BNB Chain. Through this collaboration, BNB Chain projects will benefit from faster listing opportunities and enhanced market support, allowing them to expand on a global scale. Investors will also have the chance to access high-potential assets and support promising projects at an early stage.

    This collaboration will focus on two core areas, each designed to accelerate the success of BNB Chain ecosystem projects and provide them with the essential tools and support needed to thrive in the global market.

    1. Exclusive Listing Support & Priority Access to MEXC Alpha
    BNB Chain is recognized for its low gas fees, high transaction throughput, and rapid confirmation times, providing an optimized environment for decentralized applications. The recent rise of memecoins on BNB Chain has greatly boosted trading volumes, emphasizing the growth opportunities for early-stage alpha tokens.

    To empower this momentum, MEXC will strengthen its support for BNB Chain ecosystem projects by providing expedited listing channels and priority reviews for inclusion in the MEXC Alpha Ranking. It aims to identify early-stage, high-potential blockchain projects. This feature helps MEXC’s over 36 million global users stay ahead of market trends and easily capitalize on the next big wave in the crypto industry. Additionally, it simplifies the transition of these projects to MEXC’s spot and futures markets, further enhancing the exposure and liquidity of the entire ecosystem. Through these supports, MEXC aims to help BNB Chain high-quality projects enter the global market more efficiently.

    2. Ecosystem Collaboration & Strategic Market Empowerment
    MEXC is not just a cryptocurrency exchange but also a key driver of growth in the crypto market. Through this collaboration, MEXC will leverage its strengths to provide comprehensive market support for BNB Chain ecosystem projects. By integrating resources, both parties will work together to fuel the growth of various BNB Chain ecosystem projects while contributing to the sustainable development of the entire ecosystem.

    By addressing key aspects of listing opportunities, market exposure, and ecosystem growth, both parties aim to create a lasting impact and sustainable development within the blockchain space. Through exclusive listing support and the provision of robust market resources, MEXC enhances the market exposure and liquidity of BNB Chain ecosystem projects, positioning them for greater success and broader reach in the global marketplace. Leveraging the BNB Chain $100M Liquidity Incentive Program, BNB Chain will also offer up to $500,000 in rewards to projects through its collaboration with MEXC.

    “We are committed to providing our users with a diverse range of trading options by facilitating efficient token listings, ensuring rapid transaction processing, and implementing industry-leading security measures. This collaboration will also offer our users exclusive early access to high-potential investment opportunities within the BNB Chain ecosystem, as well as other emerging and promising ecosystems. By collaborating with innovative and high-growth ecosystems like BNB Chain, we aim to expand the horizons for our users and contribute to the broader blockchain industry’s evolution. We are excited about the transformative impact this strategic collaboration will bring, not only to our users but to the entire industry,” Tracy Jin, COO of MEXC, stated.

    “At BNB Chain, we empower early-stage developers to build from zero to one. Through our collaboration with MEXC on priority listing and market support, we’re enabling BNB Chain’s high-performance innovators to thrive—driving global blockchain innovation and transformation.” Sarah, Head of Business Development at BNB Chain, stated.

    Looking ahead, MEXC and BNB Chain will further strengthen their strategic partnership and explore new opportunities for collaborative innovation in emerging and cutting-edge sectors.

    About BNB Chain
    BNB Chain is a community-driven blockchain ecosystem that is removing barriers to Web3 adoption. It is composed of:

    • BNB Smart Chain (BSC): A secure DeFi hub with the lowest gas fees of any EVM-compatible L1; serves as the ecosystem’s governance chain.
    • opBNB: A scalability L2 that delivers some of the lowest gas fees of any L2 and rapid processing speeds.
    • BNB Greenfield: Meets decentralized storage needs for the ecosystem and lets users establish their own data marketplaces.

    Setting a high bar for security, the AvengerDAO community protects BNB Chain users while Red Alarm provides a real-time risk-scanner for Dapps. The ecosystem also offers a range of monetary and ecosystem rewards as part of its Builder Support Program. For more, follow BNB Chain on X or start exploring via our Dapp library.

    About MEXC
    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 36 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
    MEXC Official WebsiteXTelegramHow to Sign Up on MEXC

    Source

    Contact:
    Lucia Hu
    lucia.hu@mexc.com

    Disclaimer: This press release is provided by MEXC. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Speculate only with funds that you can afford to lose.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3782a923-5137-4a75-90f2-e83404bc8c8b

    The MIL Network

  • MIL-OSI: InitVerse Shines at Hong Kong Web3 Festival: Leading the Next Generation of Web3 Infrastructure with Privacy and Innovation

    Source: GlobeNewswire (MIL-OSI)

    TORTOLA, British Virgin Islands, April 09, 2025 (GLOBE NEWSWIRE) — One of the world’s most influential events in the Web3 space, the 2025 Hong Kong Web3 Festival, concluded successfully at the Hong Kong Convention and Exhibition Centre from April 6th to 9th. Co-hosted by Wanxiang Blockchain Labs and HashKey Group, the event attracted over 50,000 attendees, 300+ top industry leaders, and 150 cutting-edge projects. As a pioneering innovator in Web3 infrastructure, InitVerse stood out as one of the spotlight projects at the festival with its strong technical foundation and global strategy. Hakan Sezikli, Chief Business Officer of InitVerse, was invited to participate in several major panel discussions, sharing with global developers and investors how InitVerse is reshaping the future of Web3 through privacy protection and automation.

    Since its debut in 2023, the Hong Kong Web3 Festival has become a key bridge connecting blockchain ecosystems across Asia and Europe. This year’s theme, “Web3 Globalization: Technology, Compliance, and Innovation,” brought together notable guests such as Ethereum co-founder Vitalik Buterin, Binance founder CZ, and Telegram CEO Pavel Durov. Covering hot topics like infrastructure, DeFi, and AI+Web3, the event once again positioned Hong Kong—Asia’s first Web3 event with full government support—as a magnet for global capital and innovation. InitVerse’s participation not only highlighted its globally competitive technical solution but also marked a strategic step forward in the Asia-Pacific region.

    On the main stage and across various sub-events, InitVerse showcased the core strengths of its next-generation Web3 infrastructure to developers worldwide. Built on the INIChain blockchain, InitVerse is an all-in-one platform committed to offering full-lifecycle solutions for DApps—from development to deployment and scaling. Thanks to its technological innovation, InitVerse has already garnered significant attention from industry media and top-tier investment institutions.

    During the panel discussion titled “AI + DePIN: New Possibilities for All Things,” InitVerse CBO Hakan Sezikli remarked:

    “The core contradiction facing current cloud and AI ecosystems lies in the imbalance between data utilization and privacy protection. InitVerse’s TfhEVM technology combines Fully Homomorphic Encryption (TFHE) with the Ethereum Virtual Machine (EVM), delivering a highly secure, private, and fully functional decentralized computing environment. This allows developers to run AI models directly on encrypted data—without needing to decrypt the original information. This breakthrough is crucial for fields like healthcare and finance, where compliance and trust are paramount.”

    InitVerse adopts a modular architecture, separating the INIChain base layer, privacy computing layer, and AI service layer. This ensures decentralization and security while allowing INICloud to dynamically scale computing resources. Developers can flexibly access computing power based on their needs, ensuring DApps maintain high performance even during traffic surges.

    In the forum, Hakan Sezikli further elaborated on InitVerse’s technical vision and community ecosystem. He emphasized that InitVerse’s tech roadmap always seeks a balance between decentralization, performance, and usability. He also revealed that InitVerse is collaborating with multiple institutions to build the next generation of encrypted applications.

    The Hong Kong Web3 Festival marks the third stop in InitVerse’s 2025 globalization strategy. With the unique value of its technology stack, InitVerse has drawn attention from top institutions including **HashKey Capital**, and plans to expand its global influence through the following events:

    • Jakarta, Indonesia (April 12): Community meetup with local leaders to explore the Southeast Asian market
    • Moscow (April 23): First appearance at the Eastern European Blockchain Forum, pushing for enterprise collaborations in Russian-speaking markets
    • Dubai (April 30): Participation in Token2049, expanding into regulated financial use cases in the Middle East
    • (More locations are being planned and will be announced soon)

    InitVerse’s globalization efforts are not only reflected in technology deployment but also in its ongoing efforts to build a decentralized community. Through incentive programs and outreach, the official community grew by over 2,000 new members during the event—demonstrating the market’s strong demand for privacy technology.

    The 2025 Hong Kong Web3 Festival once again proved that the future of Web3 belongs to projects that can balance technical innovation with real-world needs. With TFHE encryption, modular architecture, and AI empowerment, InitVerse is offering developers the ultimate toolkit for privacy and performance. As Hakan Sezikli aptly put it during the panel: “If the future of AI is private, encrypted, and decentralized—InitVerse is building it.”

    About InitVerse

    the next-generation platform designed to simplify the development, deployment, and scaling of decentralized applications (DApps). Powered by INIChain, an advanced blockchain infrastructure, InitVerse provides a secure, efficient, and scalable ecosystem for Web3 projects.By leveraging INIChain’s robust blockchain processing and dynamic scalability, InitVerse offers developers a complete solution for the entire DApp lifecycle. From secure deployment to seamless scaling, InitVerse makes Web3 development accessible and efficient for developers at all levels.

    Contact:
    Sami Yilmaz
    support@inichain.com

    Disclaimer: This press release is provided by INIChain. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Speculate only with funds that you can afford to lose.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/cb84d6a8-b0fb-4af1-be8c-82286818edf9

    https://www.globenewswire.com/NewsRoom/AttachmentNg/19392f2e-a984-4521-a29c-5a106600fff9

    The MIL Network

  • MIL-OSI Russia: Capital entrepreneurs will present their projects at Innovator’s Day

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    A large-scale event in the field of technological entrepreneurship — Innovator’s Day — will take place on April 26 at the Digital Business Space. The event, which is being held for the fifth time, will be held as part of the implementation of the Moscow Mayor’s strategy to involve residents of the capital in entrepreneurship.

    Innovator’s Day will be the finale of the fifth stream of the international program for the development of technology projects from idea to startup “Academy of Innovators” and will bring together the best aspiring entrepreneurs of the capital, venture investors and large businesses. The event will be attended by founders of tech startups, business angels, representatives of city structures, large corporations and investment funds. Residents of the “Academy of Innovators” will discuss the development of startups, analyze business cases and receive feedback from industry experts and mentors in the format of individual meetings.

    The authors of 15 accelerator projects that have shown the best results will pitch to investors and customers. The unique format of the interactive show will allow viewers to learn about the best developments of the participants of the “Academy of Innovators” program, evaluate the technological solutions of the accelerator residents and try themselves in the role of investors.

    In addition, guests will enjoy interactive and art spaces, a unique exhibition of the most promising technological solutions from residents of the Academy of Innovators, an HR zone with current vacancies, a quiz, and a DJ performance.

    Entry to the event is free, pre-registration.

    The project is supervised by the autonomous non-profit organization “Development of Human Capital”, subordinate to the capital Department of Entrepreneurship and Innovative Development.

    “Academy of Innovators” is a flagship program for the development of youth entrepreneurship and creation of startups in Moscow. You can join it at any stage to learn how to create competitive products and effective projects from scratch, expand your business, find partners and customers. You can participate in the program from the age of 14.

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

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/152345073/

    MIL OSI Russia News

  • MIL-OSI Russia: Over the course of a year, small businesses purchased about 500 properties from the city

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    Since April 2024, small and medium-sized entrepreneurs have purchased almost 500 premises from the city under preemptive rights. This was reported by the Deputy Mayor of Moscow for Urban Development Policy and Construction Vladimir Efimov.

    “In April 2024, the term of ownership and use of real estate based on a lease agreement, after which a small and medium-sized business entity (SME) has a preemptive right to purchase it, was reduced from two years to one year. This made it possible to expand the pool of companies that have the opportunity to exercise the preemptive right to purchase. Since then, representatives of small and medium businesses have purchased about 500 premises from the city with a total area of about 61 thousand square meters,” said Vladimir Efimov.

    The possibility of buying out a property or building after a year of renting it is of primary interest to entrepreneurs whose business demonstrates high growth dynamics. After purchasing a property, the new owner can dispose of it at their discretion, for example, by renting it out.

    “SMEs buy real estate from the capital at market value, which is determined by independent appraisers. To provide additional support to entrepreneurs, the city has provided for an installment plan for up to seven years. This allows small and medium businesses to evenly distribute payments without using credit funds. Since April last year, 99 percent of former tenants have taken advantage of this opportunity,” said the Minister of the Moscow Government, head of the capital’s Department of City Property.

    Maxim Gaman.

    Business representatives who have been leasing the property for at least one year and are included in the register of small and medium-sized businesses can buy the property from the city. The lease rights must be acquired at regular auctions under general conditions. For premises sold at specialized auctions for SMEs, the lease term must be at least two years, and the property itself must be on the list of objects intended for use by small and medium businesses for at least five years.

    To buy out the property rented from the city, you need to apply for a government service “Paid alienation of real estate leased by small and medium-sized businesses from the state property of the city of Moscow”. This can be done exclusively in electronic form on the mos.ru portal.

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

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/152350073/

    MIL OSI Russia News

  • MIL-OSI Economics: Secretary-General of ASEAN attends the AFMGM – ASEAN Business Advisory Council (ABAC) Meeting

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today attended the Meeting between the ASEAN Finance Ministers and Central Bank Governors (AFMGM) and the ASEAN Business Advisory Council (ABAC) in Kuala Lumpur, Malaysia. This interface exchanged views on how to advance the shared agenda on enhancing supply-chain competitiveness and sustainability.

    The post Secretary-General of ASEAN attends the AFMGM – ASEAN Business Advisory Council (ABAC) Meeting appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI Russia: Polytechnic University’s postgraduate program attracts talented young people from all over the world

    Translartion. Region: Russians Fedetion –

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

    Another year of the Open Doors Olympiad has ended. 29 talented young scientists were selected for postgraduate studies at the Polytechnic University.

    The Open Doors Olympiad has been held for five years now, and foreign citizens from any country can participate in it. Winners of the bachelor’s, master’s or postgraduate tracks receive the right to free education at one of the leading Russian universities.

    The selection is carried out in two stages: a portfolio competition and an Olympiad in the online testing format. The tasks are divided into 14 topics, each participant must pass the selection in the selected profile. Universities offer educational programs and postgraduate academic supervisors linked to the profiles.

    The Polytechnic University participates in 11 profiles, in two of them – “Urban Studies and Civil Engineering”, “Economics and Econometrics” – it acts as a coordinator: it proposes selection criteria, carries out methodological and expert work on drawing up assignments and forms a jury to evaluate the work.

    The 2024 Olympiad is distinguished by a sharp increase in interest in engineering and natural sciences. 22 future postgraduate students (three quarters of this year’s winners) chose engineering and technical fields and scientific supervisors from leading Polytechnic institutes – ISI, IE, IBSiB, IKNK, PhysMech, and IET.

    The leader in attracting postgraduate students through the Open Doors mechanism this time was the Civil Engineering Institute: ten applicants will study in postgraduate studies and build a career in the field of construction, design and geoecology.

    Thanks to the development of the Urban Studies and Civil Engineering profile, which is supervised by the Civil Engineering Institute, this year the number of foreign students in the English-language Civil Engineering Master’s program has increased significantly. The geography of foreign applicants is expanding, their main request is to receive a world-class Russian engineering education. Our postgraduate program in geoecology also attracts increased attention from foreigners. This gives confidence in the long-term development of the institute, the expansion of its international positioning, and the influx of new young scientists, – says Marina Petrochenko, Director of the ISI.

    Traditionally, there is high interest in the postgraduate programs of the Institute of Biomedical Systems and Biotechnology: more than 35 candidates signed up for interviews with the scientific directors of this institute. Of these, four people were chosen, the most motivated, suitable in terms of topics and level of knowledge for the current scientific groups and laboratories. In addition, for the first time, two postgraduate students in the profile “Physical and Technical Sciences” will be admitted to SPbPU; scientific groups of the PhysMech and the Institute of Economics and Technology are waiting for them.

    I was surprised by the interest of foreign applicants in fundamental research into the optical properties of semiconductor micro- and nanostructures, which I supervise in the laboratory of “Spectroscopy of Semiconductors and Nanostructures”. Based on the interview results, our capabilities coincided with the desire of an applicant from Pakistan under my supervision in the specialty “Physics of Semiconductors”. This candidate already had two scientific articles from first and second quartile journals, – shared associate professor of the Higher Engineering Physics School of the Institute of Economics and Technology Maksim Vinnichenko.

    The Institute of Industrial Management, Economics and Trade actively participates in the Olympiad and shows excellent results, which are highly appreciated by the organizing committee. A year ago, at the suggestion of the organizers, Polytechnic became the coordinator of the profile “Economics and Econometrics”, and the specialists of IMPET demonstrated a good level of expert and methodological work. Therefore, from next year, another profile of the Olympiad – “Business and Management” – will be supervised by Polytechnic.

    In the spring, SPbPU international services, together with the institute directorates, begin to form a pool of scientific supervisors willing to take part in the Olympiad. By the fall, an extensive information package on postgraduate programs, laboratories, as well as information about scientists, including a video and portfolio, will be prepared. Based on the information posted on the website, future participants will be able to choose places for postgraduate study. In 2025, out of 36,000 registered people, only 474 were admitted to the third stage.

    The third stage takes place in January-February. Scientific supervisors get access to the portfolios of absolutely all winners of the second stage in their profile and can invite the most experienced and those who have shown high scores to an interview. This is truly a selection of talents. Every year we try to expand the range of scientists, attract new scientific groups, laboratories with interesting research tasks and topics. All so that participants can find a suitable supervisor and the place that will become the launching pad for their scientific career, – said the manager of the postgraduate track, head of the department of international interuniversity cooperation Ekaterina Belyaevskaya.

    Every year, 35-40 professors and associate professors of SPbPU participate in the Olympiad as scientific supervisors. In 2025, they conducted 179 interviews with applicants and selected 29 future postgraduate students from eight countries. After completing all the necessary documents, these students will come to SPbPU in the fall. Some of them will immediately begin their postgraduate studies in Russian- or English-language programs, while others will spend another year mastering Russian in the preparatory faculty programs.

    The Polytechnic University pays the closest attention to the quality of foreign students and postgraduates. The path to the university through the Open Doors Olympiad selection mechanism is the path for real talents, future scientists. The leadership of our country sets the universities the task of improving the quality of applicants, searching for and attracting scientific talents from all over the world. Therefore, we will treat the winners of the Olympiad with the utmost attention, supporting and developing their scientific career, adapting them to the university community, instilling love and respect for our university and country, – emphasized Vice-Rector for International Affairs Dmitry Arsenyev.

    I participated in this event as a scientific supervisor. I was surprised by the level of preparation of the candidates. Among the interlocutors were top-level IT developers, the results of whose work have been implemented in the infrastructure of their home countries. Participation in Open Doors is an important tool for international communication and development, which allows strong applicants from other countries to find their way in Russian science, and scientific supervisors to strengthen their positions in international science, – shared Konstantin Semenov, Associate Professor of the Higher School of Computer Technologies and Information Systems of the IKNK.

    To become a scientific supervisor for the Olympiad in 2025, you can contact Ekaterina Belyaevskaya, email: Belyaevskaya@spbsty.ru.

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

    MIL OSI Russia News

  • MIL-OSI: Toobit Wins Best Crypto Exchange MENA 2025 at World Business Outlook Awards

    Source: GlobeNewswire (MIL-OSI)

    GEORGE TOWN, Cayman Islands, April 09, 2025 (GLOBE NEWSWIRE) — Toobit, a leading global cryptocurrency exchange, has been named Best Crypto Exchange MENA 2025 at the World Business Outlook Awards. This accolade highlights Toobit’s outstanding performance, innovation, and commitment to delivering secure and efficient trading experiences across the Middle East and North Africa (MENA) region.

    The World Business Outlook Awards celebrates excellence in business leadership, innovation, and market influence each year, spotlighting industry leaders who set new benchmarks in their respective sectors.

    “Toobit is honored to receive this recognition,” said Mike Williams, Chief Communication Officer of Toobit. “MENA presents exciting opportunities for digital asset growth, and we are happy to work with our many partners within the region to expand access to crypto education as well as adoption.”

    The MENA region has recently emerged as a hub for cryptocurrency activity. In the United Arab Emirates alone, the cryptocurrency market is projected to reach a transaction value of US$1.53 billion in 2025, with over 30% of its population—approximately 3 million people—owning digital assets. This rapid market growth is representative of the region’s rising influence in the global digital asset space.

    Toobit’s foray into the MENA region is not the platform’s first expansion into the wider cryptocurrency markets. In July 2024, the exchange formally ventured into South Korea, responding to a burgeoning demand for crypto derivatives in the APAC region.

    For more information about the World Business Awards 2025, visit: https://worldbusinessoutlook.com/awards/

    About Toobit

    Toobit is where the future of crypto trading unfolds—an award-winning cryptocurrency derivatives exchange built for those who thrive exploring new frontiers. With deep liquidity and cutting-edge technology, Toobit empowers traders worldwide to navigate the digital asset markets with confidence. We offer a fair, secure, seamless, and transparent trading experience, ensuring every trade is an opportunity to discover what’s next.

    For more information about Toobit, visit: Website | X | Telegram | LinkedIn | Discord | Instagram

    Contact: Davin C.
    Email: market@toobit.com
    Website: www.toobit.com

    Disclaimer: This press release is provided by Toobit. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Speculate only with funds that you can afford to lose.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fe4b1882-6204-43c3-80f8-86523e3b53d1

    The MIL Network

  • MIL-OSI: Major shareholder announcement – Danske Bank A/S

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no 17 2025 Danske Bank
    Bernstorffsgade 40
    DK-1577 København V
    Tel.+45 45 14 14 00

    9 April 2025

    Page 1 of 1

    Major shareholder announcement – Danske Bank A/S

    In accordance with section 31 of the Danish Capital Markets Act, we disclose that on 3 April 2025, Danske Bank held, through direct and indirect holdings, 43,146,297 voting rights attached to shares in Danske Bank A/S, corresponding to 5% of the voting rights of Danske Bank A/S.

    The holding of own shares is attributable mainly to the DKK 5.5 billion share buy-back programme, which was announced on 2 February 2024. The programme, which is described in detail in company announcement No. 2 of 2 February 2024, was completed on 3 February 2025 as set out in company announcement no. 5 2025.

    On 20 March 2025 the Annual General Meeting of Danske Bank A/S adopted the Board of Directors’ proposal to amend the Articles of Association regarding reduction of Danske Bank’s share capital by nominally DKK 271,894,960 by cancellation of part of Danske Bank’s holding of own shares. The reduction of share capital has subsequently been filed with the Danish Business Authority in accordance with the Danish Companies Act and is expected to be completed by the end of April 2025.

    Danske Bank

    Contact: Claus Ingar Jensen, Head of Group Investor Relations, tel. +45 25 42 43 70

    Attachment

    The MIL Network

  • MIL-OSI China: China has firm will, abundant means to take countermeasures if US further escalates restrictive measures: commerce ministry

    Source: China State Council Information Office

    With firm will and abundant means, China will resolutely take countermeasures and fight till the end if the United States insists on further escalating economic and trade restrictive measures, China’s Ministry of Commerce said Wednesday.

    “I want to emphasize that there is no winner in a trade war, and China does not want a trade war, but the Chinese government will by no means sit by when the legitimate rights of its people are being hurt and deprived,” said an official with the ministry.

    The official made the remarks when responding to media questions regarding a white paper released Wednesday by the State Council Information Office on China’s position on some issues concerning China-U.S. economic and trade relations.

    Noting that the successes of China and the United States are opportunities rather than threats for each other, the official said that China hopes the United States will immediately remove its unilateral imposition of tariffs, and work with China to strengthen dialogue, manage differences, and promote cooperation.

    China is willing to communicate with the U.S. side on key bilateral economic and trade issues, address their respective concerns through dialogue and consultations on an equal footing, and jointly advance the steady, healthy and sustainable development of China-U.S. economic and trade relations, the official noted. 

    MIL OSI China News

  • MIL-OSI USA: Norton Announces Community Project Funding Application Process

    Source: United States House of Representatives – Congresswoman Eleanor Holmes Norton (District of Columbia)

    WASHINGTON, D.C. — Congresswoman Eleanor Holmes Norton (D-DC) today announced the process for applying to her office for Community Project Funding, formerly known as earmarks, for fiscal year 2026 (FY26). For a Community Project Funding request to be considered, eligible entities must submit an application by 5:00 p.m. on Monday, April 21st to NortonCommunityProjectFunding@mail.house.gov.

    Under the House Committee on Appropriations’ eligibility requirements for FY26, only governmental entities and public institutions of higher education will be eligible for projects under the T-HUD Economic Development Initiatives program. Memorials, museums, and commemoratives (i.e., projects named for an individual or entity) are not eligible for Community Project Funding. The subcommittees’ requirements can be found here. All projects that were included in House Reports for Fiscal Year 2025 are eligible in Fiscal Year 2026 but must be resubmitted for consideration.

    Late or incomplete applications, including applications that do not provide the information required by the relevant subcommittee, will not be considered. The project must be located in the District of Columbia.

    An application consists of all the information about the entity and project required by the applicable subcommittee, as well as the following:

    • Name of the recipient
    • Address of the recipient
    • Amount of the request
    • Explanation of the request, including purpose, and a justification for why it is an appropriate use of taxpayer funds
    • Evidence of community support
    • If on behalf of a non-profit, evidence the entity is a non-profit organization as described under Section 501(c)(3) of the Internal Revenue Code of 1986, and evidence non-profit’s work is primarily focused on D.C.

    The Appropriations Committee is only permitting certain programs within specific subcommittees, listed below, that are going to participate in the Community Project Funding process.

    Agriculture, Rural Development, Food and Drug Administration, and Related Agencies

    • Department of Agriculture–Farm Production and Conservation Programs
      • Natural Resources Conservation Service (Conservation Operations)
    • Department of Agriculture–Research, Education, and Economics
      • Agricultural Research Service (Buildings and Facilities)
    • Department of Agriculture–Rural Development
      • Rural Housing Service (Community Facilities)
      • Rural Utilities Service (ReConnect Program)
      • Rural Utilities Service (Distance Learning and Telemedicine Grants)
      • Rural Utilities Service (Rural Water and Waste Disposal Grants)

    Commerce, Justice, Science, and Related Agencies

    • Department of Commerce
      • NIST—Scientific and Technical Research
      • NOAA—Coastal Zone Management
    • Department of Justice
      • COPS Technology and Equipment
      • Byrne Justice
    • National Aeronautics and Space Administration
      • Safety, Security, and Mission Services

    Energy and Water Development

    • Army Corps of Engineers (Civil Works)
      • Investigations
      • Construction
      • Mississippi River and Tributaries
      • Operation and Maintenance
    • Department of the Interior/Bureau of Reclamation
      • Water and Related Resources

    Homeland Security

    • Federal Emergency Management Agency
      • Federal Assistance—Emergency Ops. Centers
      • Federal Assistance—Pre-Disaster Mitigation

    Interior, Environment, and Related Agencies

    • Environmental Protection Agency
      • STAG—Clean Water State Revolving Fund
      • STAG—Drinking Water State Revolving Fund

    Military Construction, Veterans Affairs, and Related Agencies

    • Army
    • Army National Guard
    • Army Reserve
    • Navy & Marine Corps
    • Navy Reserve
    • Air Force and Space Force
    • Air National Guard
    • Air Force Reserve
    • DoD, Defense-Wide

    Transportation, and Housing and Urban Development, and Related Agencies

    • Department of Housing and Urban Development
      • CDBG – Economic Development Initiatives
    • Department of Transportation
      • Airport Improvement Program
      • Highway Infrastructure Projects
      • Transit Infrastructure Projects
      • Consolidated Rail Infrastructure and Safety Improvements
      • Port Infrastructure Development Program

    ###

    MIL OSI USA News

  • MIL-Evening Report: The Coalition’s domestic gas plan would lower prices – just not very much

    Source: The Conversation (Au and NZ) – By Samantha Hepburn, Professor, Deakin Law School, Deakin University

    A LNG carrier departs Gladstone. Ivan Kuzkin/Shutterstock

    It surprised many Australians when the Coalition announced a plan straight from the progressive side of politics: force large gas companies to reserve gas for domestic use – at a lower cost than they could sell it for overseas.

    As a populist move during a cost-of-living election, it’s a good one. Australia’s gas producers sell 70% of gas extracted on the east coast overseas under long-term contracts, even as southeastern states such as Victoria face possible gas shortages. Western Australia has long had an effective policy requiring up to 15% of offshore gas to be reserved for domestic use.

    After a fortnight’s delay, the Coalition has now publicly released the modelling behind its policy. Undertaken by Frontier Economics, the modelling indicates that reserving 50 to 100 petajoules of gas in the first year would cut wholesale prices by 23%. This would mean a 15% drop in prices for large-scale users – but only a 7% fall for household gas bills and a 3% fall in electricity bills.

    This doesn’t sound like much, because it isn’t. Gas prices soared during the Ukraine war and haven’t yet returned to their pre-war levels. Labor has dubbed the plan “gaslighting”, and will rely instead on a gas policy released last year to open up more gasfields and build import terminals. Gas producers don’t like the Coalition’s plan, and neither does billionaire Liberal benefactor Gina Rinehart. Dutton’s plan isn’t crazy – it’s just not likely to make a big difference.

    Most of Queensland’s gas is exported at present.
    Chris Andrews Fern Bay/Shutterstock

    How would this gas reservation policy work?

    The Coalition has proposed what it calls an East Coast Reservation Scheme, with the goal of progressively decoupling Australia’s east coast gas market from the volatile international market.

    It has two parts. First, it would require new exporters, in the first year of operation, to reserve an additional 50–100 petajoules for the domestic market. Second, it would create a gas security charge, to be imposed on gas producers seeking to export “additional” (non-contracted) gas on the international market.

    This would give gas producers an incentive to sell non-contracted gas to the domestic market, because they would get greater profits selling in Australia, even at a lower base price.

    Further, the policy would prevent gas producers from charging domestic buyers international prices, setting a competitive price.

    In effect, the gas security charge is akin to a levy or a reverse tariff. The levy can be avoided if producers supply up to 100 petajoules to domestic markets. That’s about as much gas as New South Wales’ gas pipelines deliver each year – 101 petajoules (PJ) as of 2022–23, or the equivalent of 26 full liquefied natural gas (LNG) carriers, which hold about 3.8 PJ on average.

    What are the issues with this plan?

    There are legitimate concerns. First, the policy does not directly address domestic gas pricing and won’t help with the cost of living crisis. Over time, it could create a more competitive domestic market, but the fact producers could make marginally more money selling gas on the domestic market doesn’t guarantee change.

    Second, the policy does not directly address the looming gas supply crisis. That’s because existing gas producers would not be legally obliged to commit to more gas domestically – they could still export it. The obligation to commit an additional 50-100 petajoules to the domestic market only applies to gas exporters in their first year of operation.

    If policymakers want to solve the supply crisis, they would be better served by imposing direct export controls in the form of a clear gas reservation mandate. This works, as Western Australia’s long experience shows.

    How did we get here?

    When Russia invaded Ukraine in 2022, it led to huge spikes in global gas prices and shortages in Europe as the world moved away from Russian gas.

    In the 2010s, Australia had already been ramping up gas production. But in the wake of the Ukraine war, Australia became a major gas exporter. Producers traded as much gas as possible on the international market, selling it for over A$40/GJ. Meanwhile, Australia’s coal production was falling.

    Domestic gas demand shot up, and prices went from $8 to $30 a gigajoule. In response, the Albanese government introduced an emergency price cap for the wholesale gas market, prohibiting producers from entering into supply contracts with domestic purchasers for prices above a cap, currently set at $12/GJ. While the cap did partly insulate domestic consumers, it was always intended as a temporary measure.

    The Australian Competition and Consumer Commission recently predicted a gas supply shortfall of up to 40 petajoules in the southern states as early as September due to declining production in Victoria and South Australia as well as higher demand. Without access to uncontracted Queensland gas, supply will run very low. This is a significant energy security risk, and one the Coalition’s gas policy doesn’t directly address.

    Victorian residents are more reliant on gas than other states – and shortfalls are looming.
    M-Production/Shutterstock

    What’s next?

    Australia is one of the world’s top three LNG exporters. The fact a gas giant could be facing domestic shortages is both unnecessary and embarrassing. Reaching this point represents decades of policy failure.

    Reserving gas for domestic use works for the west coast, and it would work for the east. But the Coalition’s plan is not quite a gas reservation scheme. It doesn’t create a comprehensive reservation mandate and questions remain about its capacity to address domestic pricing and supply.

    At present, it seems like a lot of effort without great benefit. Will households really notice their gas bill is 7% cheaper?

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

    ref. The Coalition’s domestic gas plan would lower prices – just not very much – https://theconversation.com/the-coalitions-domestic-gas-plan-would-lower-prices-just-not-very-much-254194

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI USA: Senator Markey Hosts Virtual Town Hall on Trump Administration’s Attacks on Health Care Innovation and Access in Massachusetts

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Washington (April 8, 2025) – Senator Edward J. Markey (D-Mass.), top Democrat on the Small Business Committee, as well as the Health, Education, Labor, and Pensions (HELP) Subcommittee on Primary Health and Retirement Security, today hosted a virtual town hall with panelists from MassMEDIC, Conference of Boston Teaching Hospitals, VentureWell, Boyd Biomedical, and the Wyss Institute on the importance of protecting health care innovation and patient access to care in Massachusetts and across the country. Recent Trump administration actions threaten health care innovation and access in the United States and the Commonwealth, including cuts to research funding, disruptions in funding for health providers, and firing of employees at the Food and Drug Administration (FDA), National Institutes of Health (NIH), and Centers for Medicare and Medicaid Services (CMS).
    “With President Trump’s and Congressional Republicans’ attacks on medical research, on health care access, on small businesses, and innovation, they are attacking Massachusetts,” said Senator Markey. “I heard stories from health care leaders, manufacturers, researchers, and patients that demonstrate what these reckless and indiscriminate tariffs, cuts to medical research and personnel, and efforts to gut Medicaid will mean for our ability to innovate affordable, accessible treatments and cures, and deliver high-quality care to patients in Massachusetts. I stand with them in the fight to protect life-saving research and care.”
    Massachusetts is a national leader in developing groundbreaking treatments and cures, giving hope to patients, families, and caregivers in need of breakthroughs and discoveries. Massachusetts received nearly $3.5 billion in 2024 from the NIH to support 6,000 grants including for Alzheimer’s and youth mental health. Massachusetts received nine percent of National Institutes of Health funding in 2024 despite only having two percent of the population. Since its inception, Massachusetts has also received $26,000 from the Small Business Innovation Research (SBIR) program, totaling $9 billion in funding including for Alzheimer’s prevention, diagnosis and treatment and breast cancer detection. Committed health providers, researchers, and workers drive these innovations, relying on sustainable funding to do their work. 
    “On behalf of the region’s medical device sector, I thank Sen. Markey for his steadfast support of life science innovation and manufacturing. The Commonwealth’s economy depends on our ability to deliver new cures and treatments to the world. The senator is a great partner in developing federal policy that encourages growth and patient impact,” said Brian Johnson, President of MassMEDIC.
    “The NIH continues to be our nation’s greatest hope for identifying life changing diagnostics, treatments, and cures, while supporting countless jobs, driving economic activity, and ensuring the United States’ position as a global leader in scientific research and medical innovation,” said Patricia McMullin, Executive Director of the Conference of Boston Teaching Hospitals. “We are grateful to Senator Markey and the entire Massachusetts congressional delegation for their advocacy to strengthen our nation’s medical research, which saves lives and gives hope to families across the nation and around the world.”
    “The scientific breakthroughs of tomorrow and the health solutions that improve lives depend on sustained investment in foundational biomedical research and development funding. Agencies within the Department of Health and Human Services, including the National Institutes of Health (NIH) and the Advanced Research Projects Agency for Health (ARPA-H), play a critical role in enabling this progress. Continued funding and support ensure that discoveries can be translated into transformative products and services for patients,” said Mark Marino, Vice President at VentureWell. “Federal research investments in areas such as cancer, chronic disease, Alzheimer’s, mental health, environmental health, nutrition, and pandemic preparedness are essential to maintaining a strong biomedical innovation ecosystem. We applaud Senator Markey for underscoring the importance of timely, robust funding to advance research and fuel the innovation economy in Massachusetts and across the country. We urge Congress and this administration to prioritize innovative research funding for activities that help bring biomedical innovations out of the lab and into the market.”
    “We believe in the value of strong manufacturing in America, and we’re very happy that that sentiment is more widely held today than it was just a decade ago. But the financial impact of these tariffs on American manufacturers is stark. Especially for small and mid-sized companies,” said Matthew Boyd, Chief Commercial Officer at Boyd Biomedical. “The tremendous biomedical innovation we create here in Massachusetts is not a valve you can turn off and then expect to turn back on. The consequences of these cuts to federally funded biomedical research will have a decades-long impact on biomedical innovation.”
    “Even if some of these actions are reconsidered by the administration or blocked by courts, the current uncertainty and the possibility of some of these actions being implemented will delay life-saving therapies from getting into patients by delaying innovation,” said Dr. Girija Goyal, Ph.D., Principal Scientist at the Wyss Institute.
    On March 26, Senator Markey hosted a virtual office hours meeting with Congressman McGovern, food security advocates and food banks, and hundreds of constituents on the importance of protecting SNAP and other essential food security benefits for people in Massachusetts. Earlier that month, Senator Markey led members of the Massachusetts delegation in a joint statement blasting the Trump administration’s cuts to the National Institutes of Health. Also in March, Senator Markey hosted a town hall in Malden, Massachusetts to hear directly from constituents about their concerns about what President Trump and DOGE would mean for their health care and Social Security. In February 2025, Senators Markey, Warren and Schumer demanded that the Trump administration, Elon Musk and DOGE make no cuts to Medicaid or Medicare and to end DOGE’s unauthorized access to sensitive health information.

    MIL OSI USA News

  • MIL-Evening Report: Can you spot a financial fake? How AI is raising our risks of billing fraud

    Source: The Conversation (Au and NZ) – By Matthew Grosse, Director of the Master of Business Analytics, Senior Lecturer, Accounting, University of Technology Sydney

    Along with the many benefits of artificial intelligence – from providing real time navigation to early disease detection – the explosion in its use has increased opportunities for fraud and deception.

    Large and small businesses and even the Australian Taxation Office (ATO) may be hit with fraudulent reimbursement claims, which are almost impossible to distinguish from legitimate receipts and invoices.

    Individuals also need to be wary.

    Look at the photos of the receipts shown below. One documents a genuine transaction. The other was created using ChatGPT. Can you spot the fake?

    Now have a look at this one.

    You possibly couldn’t – and that’s exactly the point. Systems which can reproduce near perfect counterfeits of legitimate financial documents are increasingly prevalent and sophisticated.

    Last week, OpenAI released an improved image generation model which can create images with photorealistic outputs including text.

    Why should we care?

    Fraud involving fake financial documents is a massive global issue. The international Association of Certified Fraud Examiners estimate organisations lose approximately 5% of revenue to fraud each year.

    In its 2024 report, the association documents losses exceeding US$3.1 billion across 1,921 cases. Billing and expense fraud constitute 35% of asset misappropriation cases, with firms reporting median losses of US$150,000 per incident.

    Most concerning, fraudsters primarily conceal these crimes by creating fake documents or altering files, exactly what AI now simplifies.

    Fake documents enable fraud in various ways. An employee might create a fictitious receipt for a business lunch that never happened, or a contractor might fabricate receipts for expenses never incurred. In each case, the fraudster uses counterfeit documentation to extract money they’re not entitled to.

    This problem is likely more widespread than recognised. A 2024 survey revealed 24% of employees admitted to expense fraud, with another 15% considering it.

    Even more concerning, 42% of UK public sector decision makers confessed to submitting fraudulent claims.

    AI removes barriers to deception

    Understanding how AI technology may lead to a surge in potential fraud requires examining the classic “fraud triangle”. This explains that fraud requires three elements: incentives, rationalisation and opportunity.

    Historically, technical barriers limited the ability to create fake documentation even when motivation existed.

    AI eliminates these barriers by making fake documentation easy to create. Research confirms when opportunity expands, fraud increases.

    When fake claims become everyone’s problem

    When fake receipts support tax deductions, we all pay.

    Consider a marketing consultant earning $120,000, who uses an AI image generator to create several convincing receipts for non-existent expenses totalling $4,000. At their marginal tax rate of 30%, this fraud saves them about $1,200 in taxes – if they are not caught.

    The Australian Taxation Office estimates a $2.7 billion annual annual gap from incorrectly over-claimed deductions by small businesses. With digital forgery becoming more accessible, this gap could widen significantly.

    Fake receipts and invoices

    Consumers are also becoming increasingly vulnerable to scammers using AI-generated receipts and invoices.

    Imagine receiving what looks like an official invoice from your energy provider. The only difference? The payment details direct funds to a scammer’s account.

    This is already occurring. The Australian Competition and Consumer Commission reported more than $3.1 billion lost to scams in 2023, with payment redirection fraud growing rapidly.

    As AI tools make creating and editing convincing business documentation easier, these scam numbers have the potential to increase.

    The growing threat

    This vulnerability for both businesses and consumers is amplified by our increasing reliance on digital documentation.

    Today, many businesses issue receipts in digital formats. Expense management systems typically require employees to submit photos or scans of receipts. Tax authorities also accept electronically stored documentation.

    With paper receipts becoming increasingly rare and paper’s physical security features gone, digital forgeries become nearly impossible to spot through visual inspection alone.

    Is digital authentication the answer?

    One potential countermeasure is the Content Provenance and Authenticity (C2PA) standard. The C2PA standard embeds AI generated images with verifiable information about file origin.

    However, a major weakness remains, as users can remove metadata by taking a screenshot of an image. For businesses and tax authorities, digital authentication standards are just part of the answer to sophisticated digital forgery. Yet reverting to paper documentation isn’t feasible in our digital era.

    Seeing is no longer believing

    AI’s ability to create realistic fake financial documents fundamentally changes our approach to expense verification and financial security.

    The traditional visual inspection of receipts and invoices is rapidly becoming obsolete.

    Businesses, tax authorities and individuals need to adapt quickly by implementing verification systems that go beyond simply looking at documentation.

    This might include transaction matching with bank records, and automated anomaly detection systems that flag unusual spending patterns. Perhaps the use of blockchain technology will expand to help verify transactions.

    The gap between what AI can create and what our systems can reliably verify continues to widen. So how do we maintain trust in financial transactions in a world where seeing is no longer believing?

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

    ref. Can you spot a financial fake? How AI is raising our risks of billing fraud – https://theconversation.com/can-you-spot-a-financial-fake-how-ai-is-raising-our-risks-of-billing-fraud-253912

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Economics: Samsung Unveils Odyssey Gaming Monitors, First-Ever Glasses-Free 3D & 4K 240Hz OLED in India

    Source: Samsung

     
    Samsung, India’s largest consumer electronics brand, today announced the availability of the 2025 line-up of Odyssey gaming monitors, which includes the revolutionary glasses-free Odyssey 3D, the industry-first 4K 240Hz Odyssey OLED G8, and the ultra-immersive curved Odyssey G9.
     
    Designed to push immersion and performance, these monitors cater to gamers, content creators, and professionals demanding superior visual fidelity. The new 27” Odyssey 3D (G90XF model) is a game-changer for the Indian market with its ground-breaking Glasses-free 3D gaming experience.
     
    Available in sizes of 27” and 32”, the Odyssey OLED G8 (G81SF model) sets a new industry benchmark as the world’s first 4K OLED monitor with a 240Hz refresh rate. The Odyssey G9 (G91F model) delivers an unmatched ultra-wide experience with a 49” Dual QHD display and a 1000R curved screen, wrapping high-quality visuals especially playing 32:9 or 21:9 games.
     
    “At Samsung, we have remained committed to democratizing cutting-edge display technology, making world-class innovation accessible to Indian consumers. With the introduction of the innovative Odyssey 3D, Odyssey OLED G8, and Odyssey G9 monitors, we are not just bringing global firsts to India but also elevating the way gamers experience immersion, speed and visual excellence,” said Puneet Sethi, Vice President, Enterprise Business, Samsung India.
     
    Odyssey 3D: India’s First Glasses-Free 3D Gaming Monitor
    Featuring advanced eye-tracking technology and view mapping algorithms, it delivers high-definition, stunning 3D visuals that make games and video content more lifelike. The Reality Hub app detects the video content and offers a choice to run it in 3D.
     
    Samsung is actively collaborating with major global game developers, including Nexon for The First Berserker: Khazan to optimize this next-gen 3D technology.
     
    Beyond gaming, the Odyssey 3D features AI-powered video conversion, transforming standard content into 3D infusing new energy to almost all content. With 165Hz refresh rate, 1ms response time, AMD FreeSync Support, Odyssey 3D ensures smooth, lag-free gameplay. Spatial Audio (built-in speakers) and the Edge Lighting feature further enhance gaming experience, bringing games out of the screen and into your world.
     
    Odyssey OLED G8: Industry-First 4K 240Hz OLED Gaming Monitor
    Powered by Quantum Dot technology, the Odyssey OLED G8 delivers enhanced colours, deep contrast, and superior viewing angles. VESA DisplayHDR TrueBlack 400 certification ensures near-infinite contrast, making vibrant colours pop even at typical brightness levels of 250 nits. Samsung’s proprietary OLED Safeguard+ and Dynamic Cooling System extend screen longevity that effectively cools down the screen temperature to prevent burn-in by applying the Pulsating Heat Pipe to monitor for the first time ever.
     
    The glare-free technology, certified by Underwriters Laboratories (UL), makes the screen 56% less glossy for distraction-free gaming. With 240Hz refresh rate and 0.03ms response time, the Odyssey OLED G8 ensures a smoother viewing experience eliminating lag time and motion blur for exhilarating game-play with ultra-smooth action.
     
    The Odyssey OLED G8 is designed to upgrade any gaming station with its slim metal body, Core Lighting+ and ergonomic stand.
     
    Odyssey G9: Expanding the Ultrawide Gaming Revolution
     
    Certified with VESA DisplayHDR 600 and HDR10+ GAMING, the Odyssey G9 enhances brightness, contrast, and colour range for vivid, dynamic visuals.
     
    With 144Hz refresh rate, 1ms response time, and AMD FreeSync Premium, the Odyssey G9 ensures seamless gameplay free from tearing and stuttering.
     
    Not just that, multitasking is made effortless with Picture-by-Picture and Picture-in-Picture modes, allowing users to view content from multiple sources simultaneously. The Auto Source Switch+ feature further streamlines the experience by instantly detecting and displaying connected devices.
     
     Price and Offers
     
    Model
    Listing Price (INR)
    Odyssey 3D G90XF
    127299
    Odyssey G8 27″ G81SF
    91299
    Odyssey G8 32″ G81SF
    118999
    Odyssey G9 49″ G91F
    94099
     
    Customers can avail launch benefits of upto INR 10,000/-. The products are available on Samsung.com, leading online platforms and retailers across India.
     
     
     

    MIL OSI Economics

  • MIL-OSI New Zealand: Game-changing employment bill to tackle PGs passes first reading

    Source: ACT Party

    ACT Small Business spokesperson Laura McClure is celebrating the first reading passage of her member’s bill, the Employment Relations (Termination of Employment by Agreement) Amendment Bill.

    The bill would allow employers to open protected negotiations for the termination of an employment contract, avoiding costly unfair dismissal or personal grievance claims.

    “Sometimes when one person employs another it just doesn’t work out. Relationship breakdowns, poor performance, or personal circumstances can make an employment relationship unsustainable,” says McClure.

    “Some employers would happily offer an employee money to leave, and in many cases the employee would happily accept. But this is not an option under current law.

    “I know from experience that a common fear for employers is a long and costly personal grievance or unfair dismissal claim, even when the employer has adhered to due process. These processes are stressful for both employers and employees, and often end in a settlement anyway either due to entering the without prejudice process or from a PG.

    “Hefty legal fees for personal grievance and unfair dismissal claims should not be seen as ‘the cost of doing business’.

    “My bill makes it easier for two adults to come to an agreement, shake hands, and move on to greener pastures before any dispute is escalated to the Employment Relations Authority.

    “An employer could approach an employee and say, ‘This doesn’t seem to be working out. Would you be open to sitting down and coming to an agreement about your employment?’ The employee is under no obligation to take up that offer, or any offer made in the subsequent meeting.

    “An employer could seek termination of the contract with the employee’s consent, in return for specified compensation. These conversations would be without prejudice, meaning they could not be used as a part of any future unfair dismissal or personal grievance case, unless certain exemptions apply.

    “I want this legislation to be as effective as it possibly can be, so I’m now encouraging workers, employers, and advocates to engage with the select committee process around my bill.”

    Laura McClure’s opening speech can be found here.

    A copy of the bill can be downloaded here.

    MIL OSI New Zealand News

  • MIL-Evening Report: Adam Bandt says the Greens can deliver ‘real change’ – but the party should choose its battles more wisely

    Source: The Conversation (Au and NZ) – By Kate Crowley, Adjunct Associate Professor, Public and Environmental Policy, University of Tasmania

    Federal Greens leader Adam Bandt says the federal election offers “an opportunity for real change”, saying his party would use the balance of power in the next parliament to help deliver serious policy reforms.

    In a speech to the National Press Club on Wednesday, Bandt outlined the party’s election priorities and said the poll represents:

    A once-in-a-generation chance to create a country where everyone has a right to the basics – food, health, and a home. A safe climate and a healthy environment. An economy which puts people before the profits of the obscenely wealthy and the excessively profitable.

    The Greens broke new ground at the last federal election, snatching three new lower house seats and winning the balance of power in the Senate. The gains suggested the Greens were moving beyond their roots as a party of protest, and becoming a true policy force.

    But the Greens broadly failed to make the most of its greater political presence this term. In the next parliament, it should focus on building political capital and picking its battles more wisely.

    Meagre parliamentary success this term

    As a traditional party of protest, the Greens have historically tended to stick firmly to the party’s policy agenda rather than make major concessions to the government of the day.

    However, as the new Labor government focused on delivering its mostly modest reform agenda this term, the Greens party was forced to negotiate on its demands, much as the Teals have done.

    The Greens helped Labor pass its signature climate change policy, the safeguard mechanism, which seeks to limit emissions from Australia’s most polluting companies. In return, Labor agreed to the Greens’ call for a hard cap on emissions under the scheme. But it refused to bow to Greens demands for a ban on new gas and coal projects, and limiting the use of carbon credits.

    The Greens were then tested by Labor’s housing agenda – specifically, two schemes to make buying or renting a home more affordable.

    The Greens’ initially teamed up with the Coalition to block the laws, arguing they would drive up housing prices and give tax breaks to property developers. The party’s opposition was at odds with public opinion, including most Greens voters.

    The party eventually waved the housing bills through in November last year without winning any concessions from Labor, and after burning much political capital.

    The chastened Greens helped pass a flurry of other legislation late in 2024, including Reserve Bank governance reforms and a supermarket code of conduct. In return, Labor offered Greens fairly piecemeal concessions, including more money for social housing electrification and a ban on fossil fuel subsidies under the Future Made in Australia scheme.

    The Greens also offered to help salvage Labor’s troubled proposal to reform Australia’s environmental protection laws. It shelved its calls for a “climate trigger” – which would force regulators to consider the potential climate damage of a proposal before it was approved. Instead, the Greens insisted only on stronger protections for native forests.

    However, Prime Minister Anthony Albanese intervened at the eleventh hour to scuttle the deal.

    All this suggests the Greens party is yet to strike the right balance between pursuing its own policy agenda and supporting Labor to the extent that a healthy working relationship is achieved. So far, it has gained only meagre concessions, and its policy grandstanding has not worked.

    Flare-ups outside parliament

    Scoring political points outside parliament can be easier for the Greens than influencing policy within it.

    Environmental conflict has always fuelled the Greens’ vote, and the party continues to campaign on issues such as protecting Tasmania’s native forests, opposing salmon farming and calling for a ban on new coal and gas projects.

    But outside parliament this term, the Greens have faced controversies that may hurt them at the ballot box.

    Greens senator Lidia Thorpe quit the party over its support for the Voice referendum, and Bandt copped criticism for allegedly failing to confront bullying claims against West Australian Greens senator Dorinda Cox.

    The Gaza conflict triggered significant ruptures between the Greens and the pro-Israel movement. There were also reports that a new Muslim political movement may siphon votes from the Greens and hurt them electorally.

    There is no ready formula, then, for the Greens to shore up – let alone expand – its vote outside parliament.

    What’s next for the Greens?

    The Guardian’s polls tracker suggests the Greens’ primary vote has increased since the 2022 election, from 12.3% to 14%.

    However, the party faces several tough political contests to retain or extend the gains it won in 2022. And its disappointing results at recent elections in Queensland and the Australian Capital Territory suggest the party has its work cut out.

    As ABC election analyst Antony Green has noted, Labor holds three seats with margins below 5% where the Greens have a chance. However, the Greens also hold seats on slim margins that Labor or another candidate could win.

    The Greens’ lower-house gains at the last election came in the inner-Brisbane seats of Ryan, Brisbane and Griffith. The Greens will have to fight hard to retain all three next month.

    The most recent polls suggest Labor will be returned by a narrow margin at the May 3 election – probably helped along by the return of United States’ President Donald Trump.

    On Wednesday Bandt said the Greens “are within reach of winning seats right across the country and, in the minority government, we can make things happen”.

    However, seven new Independents won lower house seats at the last election. Should that trend continue, and if Labor does need to form a minority government, the Greens may find themselves fighting for the balance of power on a crowded crossbench.

    Picking fights or delivering policy?

    If the Greens party wants to be seen as a serious political force, it must decide if its traditional political approach – hard-nosed policy opposition and picking political fights – is still the best strategy.

    Bandt’s mentor, former Greens leader Christine Milne, got results from minority pacts with both sides of politics. She believed the Greens’ role was to build political capital and then, when an opportunity such as minority government arose, to spend that capital on achieving significant policy outcomes.

    On Wednesday, Bandt indicated a willingness to work towards meaningful policy outcomes in the next parliament. He claimed the Greens were willing to compromise in the event of minority government, saying:

    we understand the need to cooperate and to come up with an arrangement that forms stable, effective and progressive government […] We will go into any discussions with goodwill and with [an] open mind.

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

    ref. Adam Bandt says the Greens can deliver ‘real change’ – but the party should choose its battles more wisely – https://theconversation.com/adam-bandt-says-the-greens-can-deliver-real-change-but-the-party-should-choose-its-battles-more-wisely-253851

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI New Zealand: Energy Sector – Extended support on the way during the Low Fixed Charge Tariff phase-out

    Source: Electricity Retailers’ Association of New Zealand (ERANZ)

     

    The Electricity Retailers’ Association of New Zealand (ERANZ) and Electricity Networks Aotearoa (ENA) are pleased to announce that members from both organisations will extend the industry-funded Power Credit Scheme from 2027 to 2032. 

     

    The Power Credits Scheme is a $5 million fund that began in June 2022. It assists low-electricity-use households struggling to pay their power bills as the Low Fixed Charge Tariff (LFC) regulations are phased out.

     

    ERANZ Chief Executive Bridget Abernethy says the LFC phase-out is working as intended, rebalancing consumer bills’ fixed and variable components.

     

    “We understand that the phase-out isn’t easy for everyone, so ERANZ and ENA members are extending the scheme for five years, putting $1 million per year back into the hands of struggling consumers.”

     

    Abernethy says she is pleased to see the Ministry of Business, Innovation and Employment (MBIE) Mid-Point Review of the Phase-out of the Low Fixed Charge, which was released today, confirm that the phase-out of the LFC regulations means more equitable electricity bills for standard users.

     

    “Before the phase-out, high-income households with low electricity consumption received lower electricity bills, which came at the expense of larger low-income households with relatively high electricity consumption.”

     

    Abernethy says anyone who is struggling should get in touch with their retailer to see what support is available to them. Consumers can also check with their retailer that they are on the right plan for their needs.

    MIL OSI New Zealand News

  • MIL-OSI USA: Climbing Higher: Preview of the 2025 NICE Conference & Expo

    Source: US Government research organizations

    Speakers:

    Credit: Michele Robinson

    Michele Robinson
    Senior Director
    National Cybersecurity Centers
    Whatcom Community College

    Credit: Donavon Johnson, Phd

    Donavon Johnson, PhD
    Assistant Professor
    Florida International University

    Credit: Barbara Peres-Furones

    Barbara Peres-Furones
    Assistant Director, Marketing & Communications
    Florida International University

    Credit: Daniel Eliot

    Daniel Eliot
    Lead for Small Business Engagement
    NIST

    Credit: Rodney Petersen

    Rodney Petersen
    Director
    NICE
    (Moderator)

    Additional speakers to be announced. 

    Synopsis: 

    The NICE Conference & Expo is an annual event that brings together professionals from education, government, industry, and non-profits to address the need for a skilled cybersecurity workforce. Hosted by Florida International University (FIU) in collaboration with NICE, a program of the National Institute of Standards and Technology (NIST), the conference serves as a platform to share best practices, research, and workforce development strategies for cybersecurity professionals. The 2025 NICE Conference & Expo, is scheduled for June 1-3, 2025, in Denver, Colorado. The conference will feature keynote speakers, presentations, workshops, and discussions focused on cybersecurity skills gaps, education strategies, and policy initiatives. During this webinar, you will receive insights regarding the learning experiences and program content that will be showcased as part of the NICE Conference. We hope to see you there!


    Resources: 

    2025 NICE Conference and Expo 

    MIL OSI USA News

  • MIL-OSI Economics: Secretary-General of ASEAN to participate in the World Expo 2025 in Osaka, Japan

    Source: ASEAN

    At the invitation of the Government of Japan, Secretary-General of ASEAN, Dr. Kao Kim Hourn, will lead the ASEAN Secretariat’s delegation to participate in the World Expo 2025, in Osaka, Japan, on 12-14 April 2025. The visit of SG Dr. Kao will entail a series of engagements focusing on ASEAN’s participation at the World Expo 2025, visiting Pavilions of ASEAN Member States, as well as meetings with various stakeholders based in Osaka. SG Dr. Kao will officiate the ASEAN Pavilion and, among others, deliver remarks in support of Malaysia’s ASEAN chairmanship this year at the International Trade and Industry Week, organized by the Ministry of Investment, Trade and Industry of Malaysia, at the Expo Hall.

    Taking full advantage of his time in Osaka, SG Dr. Kao will also engage with the Osaka Prefecture Governor and the Osaka Chamber of Commerce and Industry to further promote ASEAN’s potentials including in the areas of trade, investment, tourism and connectivity. Additionally, SG Dr. Kao will also be received by the ASEAN-Japan Centre during this visit, and will deliver a special lecture on the topic of ‘ASEAN-Japan Comprehensive Strategic Partnership: Partnership for Peace, Prosperity and People’ at the Kansai University, in Osaka, to convey ASEAN’s narrative to the younger generation.
    The post Secretary-General of ASEAN to participate in the World Expo 2025 in Osaka, Japan appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI New Zealand: Finance and Banking – ASB lowers variable rates for personal, business and rural customers

    Source: ASB

    ASB is dropping variable interest rates across home lending, business and rural lending by 0.25%, following today’s decision by the Reserve Bank of New Zealand to reduce the Official Cash Rate (OCR).

    ASB’s Executive General Manager Personal Banking Adam Boyd says, “We expect our reduced variable rates will appeal to customers choosing to float their lending in part or full, as we see Kiwi considering their options carefully.”

    In response to the OCR decrease, ASB is lowering some of its savings products, including Savings On Call and Headstart, by 25 basis points.

    “We encourage customers relying on interest as a means of saving to look at all the options available to make their money work for them.”

     

     

    Home Loan* 

    Current Rates 

    New Rates 

    Rate Change 

    Housing Variable 

    6.89% 

    6.64%

    – 0.25% 

    Orbit Variable

    6.99% 

    6.74%

    – 0.25% 

    Back My Build 

    4.44% 

    4.19%

    – 0.25% 

    Note – Back My Build applications are no longer open to new customers.

    *These changes are effective from Friday 11th April 2025 for new lending customers, and Wednesday 16th April 2025 for existing lending customers.

     

    Business Loan*

    Current Rates 

    New Rates 

    Rate Change 

    Business and Rural Floating Base Rate

     

    5.19%

     

    4.94%

     

    – 0.25%

    Business Base Rate

    12.02% 

    11.77%

    – 0.25% 

    Rural Base Rate

    9.26% 

    9.01%

    – 0.25% 

    Corporate Indicator Rate

    6.43% 

    6.18%

    – 0.25% 

    Special Purpose Base Rate

    5.00%

    4.75%

    – 0.25%

    *These changes are effective from Thursday 17th April 2025 for both new and existing customers.

     

    Savings 

    Band 

    Current Rates 

    New Rates 

    Rate Change 

    Savings On Call & ASB Cash Fund*

    All Balances 

    1.15% 

    0.90% 

    – 0.25% 

    Savings Plus**

    No Bonus 

    0.70% 

    0.45% 

    – 0.25% 

    Partial Bonus

    0.80%

    0.55%

    – 0.25%

     

    Full Bonus

    3.15%

    2.90%

    – 0.25%

    Headstart*

    All Balances

    3.15%

    2.90%

    – 0.25% 

    *These changes are effective from Wednesday 16thApril 2025 for new and existing customers

    **Savings Plus changes were effective from Tuesday 1st April 2025 in line with the quarterly structure of the product

    ASB has practical information for customers on the current interest rate environment available on its website (ref. https://www.asb.co.nz/home-loans-mortgages/preparing-for-rising-interest-rates.html ) as well support to help customers take control of their financial wellbeing and achieve their goals at its Financial Wellbeing Hub (ref. https://www.asb.co.nz/banking-with-asb/financial-wellbeing.html ).

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Universities – Global EV adoption fails to cut CO₂ – study – UoA

    Source: University of Auckland (UoA)

    There’s little point in buying an electric vehicle if you’re charging it with electricity generated by fossil fuels. In fact, when it comes to carbon dioxide emissions, your EV may be doing more harm than good.

    This is according to a study by researchers from the University of Auckland and Xiamen University in China, published in the journal Energy. (ref. http://www.sciencedirect.com/science/article/pii/S036054422500115X?via%3Dihub )

    The researchers analysed the environmental impacts of human activity and used a robust statistical approach to investigate what drives a nation’s carbon dioxide (CO₂) emissions.

    Using data from 26 countries over 15 years, they found a surprising trend: higher EV uptake was linked to increased CO₂ emissions. The reason? In a number of countries, EVs are still being powered by electricity generated through burning fossil fuels like coal or oil.

    Associate Professor Stephen Poletti and Simon Tao, a doctoral candidate at the Business School’s Energy Centre, didn’t observe a significant reduction in CO₂ emissions globally due to EV adoption.

    “On the contrary, EV adoption is positively associated with CO₂ emissions,” says Tao. “This finding appears counterintuitive; it challenges the conventional belief that EVs contribute to decarbonisation.

    “Our analysis highlights that the environmental benefits of EVs are contingent on the composition of a country’s electricity generation mix.”

    Take EVs charged using electricity from coal-fired power plants, says Poletti.

    “In that case, they may indirectly contribute to higher emissions than modern gasoline or diesel vehicles, especially considering the entire lifecycle from production to disposal.”

    The study results suggest only when the global share of renewable electricity generation reaches approximately 48 percent will electric vehicle adoption contribute to reducing CO₂ emissions.

    Renewable energy, mainly wind, solar and hydro, accounted for only a little more than 30 percent of the world’s electricity in 2023, so there’s a way to go, says Poletti.

    “Electric vehicles are often seen as a silver bullet for climate change, but our results show that’s not the case if the electricity powering them isn’t clean.”

    New Zealand, where over 80 percent of electricity generation is renewable, is well-placed to reap the benefits of EVs. Across the ditch, a Clean Energy Council report found that renewables overall accounted for nearly 40 percent of Australia’s total electricity supply in 2023.

    “This research is a reminder that decarbonising transport can’t happen in isolation,” says Poletti.

    “EVs are only as green as the grid they plug into, and government policies should aim to increase the adoption and integration of renewable energy like solar and hydro. This can be achieved by setting ambitious renewable energy targets and providing adequate subsidies such as tax credits to producers and consumers of renewable energy.”

    Poletti says investments in smart grids and transmission networks can boost the efficiency and reliability of renewable energy supply.

    “Policies should support community-based renewable energy projects, which can increase public acceptance of renewable energy installations.”

    Further, the researchers say eliminating subsidies for fossil fuels and implementing carbon pricing mechanisms could also incentivise renewable energy development.

    “Electric vehicle uptake can help countries meet climate-related targets, as long as the energy used to power them is clean,” says Tao.

    In addition to EV uptake, the researchers examined the impacts of economic growth, green technology innovation, renewable energy consumption and population density on emissions.

    They found that economic growth increases emissions, while innovation in environmentally friendly technology and population density, in the form of more compact cities, can help lower them. Renewable energy use had the most significant emissions-reducing effect.

    MIL OSI New Zealand News

  • MIL-OSI USA: SCHUMER DEMANDS FEMA IMMEDIATELY REVERSE DEVASTATING $300+ MILLION CUT FOR DISASTER PREPARDNESS, FLOOD MITIGATION & INFRASTRUCTURE UPGRADES ACROSS NEW YORK TO ENSURE CONSTRUCTION CAN CONTINUE & TO…

    US Senate News:

    Source: United States Senator for New York Charles E Schumer

    Last Week FEMA Announced It Will Eliminate The Building Resilient Infrastructure And Communities (BRIC), Cutting Projects Across NY; BRIC Was Set To Provide $325M For NYS Projects And Has Distributed $5B In Fed Grants Nationally Since It Started In 2020

    BRIC Program – Created By Schumer And Signed Into Law By Trump – Helps State And Local Government Improve Infrastructure By Raising Roads, Improving Drainage, Creating Power Sources, And More With Projects In Capital Region, NYC, Buffalo, And More Set To Lose Funding

    Schumer: FEMA Is Putting New Yorkers At Risk During Next Disaster By Cutting Off Funding

    After Trump abruptly canceled FEMA’s Building Resilient Infrastructure and Communities (BRIC) Program, including over $300 million in federal funding headed to New York, U.S. Senator Chuck Schumer today demanded FEMA reverse this harmful decision which will rip resources away from New York State’s disaster preparedness efforts. The senator said as New York has faced more extreme weather than ever, FEMA has played a critical role in helping communities rebuild and cutting off this lifeline with hurt New York families, businesses, and more in every corner of the state.

    “New Yorkers are no strangers to natural disasters and FEMA’s BRIC program was one of the best tools for helping communities big and small rebuild to keep communities safe in the face of flooding, snowstorms and more. By ripping away over $300 million in funding for projects with no warning or explanation, imperiling them from moving forward, FEMA is going against its mission and putting the lives & safety of New Yorkers during the next emergency at risk,” said Senator Schumer. “When communities are hit by disaster, when roads are flooded, downtowns destroyed, or worse – it is FEMA that is supposed to come to help them rebuild. We cannot leave New York’s families, businesses, and neighborhoods fending for themselves by cutting off this vital lifeline. I’m demanding FEMA immediately reverse these cuts and restore BRIC to keep New Yorkers safe.”

    FEMA’s Building Resilient Infrastructure and Communities (BRIC) in 2020 and was previously signed into law by President Trump during his first administration. BRIC allocates resources to state and local governments to help mitigate damage from natural disasters, such as raising roads or building underground storage which will help make communities more resilient to extreme weather such as hurricanes or floods. When announcing that it would end the program, FEMA labeled BRIC as an “ineffective FEMA program” and said eliminating it was part of the Trump administration’s efforts to eliminate “waste, fraud and abuse.”

    Schumer added, “I created BRIC to provide support for critical projects including rebuilding roads, improving drainage, creating emergency power sources, and more in every corner of the state – and Trump signed it into law. ‘DOGE’ claims to eliminate government waste, so why is Trump canceling a program that he signed into law? This newest announcement will only create more waste when houses, roads, and more are ruined with no resources to rebuild.”

    In a letter to U.S. Department of Homeland Security Secretary Kristi Noem, Schumer explained that BRIC provides a lifeline for New York and other states that have been facing more extreme weather as they prepare for the next storm. For example, last year New York State set a record for most tornadoes in a year since they were first recorded in 1950 and experienced an earthquake that was felt throughout the state. Schumer said BRIC has and should continue to play a critical role in supporting New York’s infrastructure improvements and mitigating damage caused by extreme weather and natural disasters and called on the Trump administration to reverse these cuts and maintain BRIC.

    Schumer said canceled projects are in every corner of New York State, including New York City, Westchester, the Capital Region, and Buffalo. For example, according to Governor Hochul, $100 million was cut off for two flood mitigation projects in Central Harlem and East Elmhurst, $24 million was cut off for the New York Power Authority to reduce the formation of ice jams in the Capital Region, and over $700,000 was cut off for the removal of a dangerous dam in Westchester.

    Schumer explained that BRIC is one of several FEMA preparedness and resilience programs that help communities reduce the impacts of future disasters. The Flood Mitigation Assistance Grant Program (FMA) and State Hazard Mitigation Revolving Loan Program, established by the Safeguarding Tomorrow through Ongoing Risk Mitigation Act of 2020, or the STORM Act, provide critical support to communities that have been hit by disasters to help them prepare for the next major storm. Secretary Noem’s previous comments asserting that the Trump administration will “eliminate FEMA” put not just the BRIC and preparedness programs at risk, but also programs and funds that allow the federal government to respond to major disasters and help communities rebuild in the immediate and long-term aftermath.

    Schumer’s letter to Secretary Noem can be found HERE or below:

    Dear Secretary Noem:

    I write to urge you to reverse your recent decision to cancel the Federal Emergency Management Agency’s (FEMA) Building Resilient Infrastructure and Communities (BRIC) grant program. By cancelling this program, New York State will lose over $325 million for projects that have not yet begun construction that would help mitigate or prevent flooding in local communities, helping to save lives and reduce the damages and costs of extreme weather. $56 million in funding has already helped begin some resilience projects, although this decision now puts those dollars at risk. Funding to help states invest in preparedness and resilience not only saves lives and property, but also saves money for local, state, and the federal government in the long term. I implore you to revisit your decision to end the BRIC funding for states and restore the $325 million investments in New York’s resilience to extreme weather.

    The BRIC program provides local, state, territorial and Tribal governments resources to reduce their hazard risk when extreme weather strikes. In recent years, New York has seen its fair share of disasters, including 23 federally declared disasters with New Yorkers receiving $1,385 in federal aid per capita from disasters that occurred 2011 – 2024, the third highest cost per capita in the country. Just last year, New York saw tornadoes and flooding that left communities devastated. Hurricane Ida brought record-shattering rainfall and devastated New York City in 2021, drowning 11 people in their basement apartments, demonstrating the dire need for improved wastewater infrastructure to ensure no more lives are lost at the hand of extreme rainfall. Programs like BRIC that invest in resilience will help mitigate the impacts of these storms, preventing some or all of the most severe damages that these weather systems bring. The U.S. Chamber of Commerce has stated that every $1 invested in disaster preparedness saves communities $13 in damages, cleanup, and recovery costs. The BRIC investments are not only a smart choice to save lives and property, but they also make economic sense.

    Across New York City, 10 projects totaling over $280 million were slated to help improve flooding resiliency. The NYC Department of Environmental Protection (DEP) has several projects to mitigate flooding impacts by reducing storm-related runoff and flooding from high intensity rainfall. These projects would improve and strengthen stormwater infrastructure across the city, including in the Historic South Street Seaport, Central Harlem, East Elmhurst, Corona East, at the NYCHA Polo Grounds Tower Development, and other areas of the city. In Upstate New York, three projects totaling over $1 million are at risk because of this reckless decision to cancel the BRIC program. In Westchester, the Upper Minkel Dam Decommissioning and Riparian Corridor Restoration project would restore a stream and surrounding land to reduce flood hazards, potentially eliminating any future flooding event at this site. The New York Power Authority was slated to address ice jams in Vischer Ferry along the NYS canal system, flushing ice from the Vischer Ferry impoundment to avoid jam flooding and the potential for ice dam formations. Lastly, the City of Buffalo was slated to utilize BRIC funds to improve building codes and invest in local workforce training and development, helping to improve energy use and the utilization of emerging technologies. All these projects, and more across the state, detailed today by New York Governor Kathy Hochul, would help improve community safety and invest in local workforce development, but are unfortunately now at risk thanks to the administration’s decision to cancel the BRIC program.

     The BRIC program, along with FEMA’s other disaster preparedness and resilience programs such as the Flood Mitigation Assistance Grant Program (FMA) and State Hazard Mitigation Revolving Loan Program, established by the Safeguarding Tomorrow through Ongoing Risk Mitigation Act of 2020, or the STORM Act, provide critical support to communities that have been hit by disasters to help them prepare for the next major storm. I urge you to swiftly restore the BRIC program to ensure these dollars can continue doing this important work to create safer communities and save costs.

    MIL OSI USA News

  • MIL-OSI USA: Ernst, Grassley, Marshall Protect Family Farms, Consumers from Burdensome Government Overreach

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)
    WASHINGTON – After the U.S. Supreme Court left an open invitation for Congress to strike down California’s Proposition 12, U.S. Senator Joni Ernst (R-Iowa) is leading her colleagues in ending this unjustified and burdensome regulatory overreach to protect family farms and bring down pork prices for consumers.
    The Food Security and Farm Protection Act prohibits any state or local government from interfering with commerce and agricultural practices in another state outside their jurisdiction. The bill is co-led by Ernst’s fellow Senate Agriculture Committee members Senators Chuck Grassley (R-Iowa) and Roger Marshall (R-Kan.).
    “Proposition 12 is dangerous and arbitrary overregulation that stands in direct opposition to the livelihoods of Iowa pork producers, increases costs for both farmers and consumers, and jeopardizes our nation’s food security,” said Senator Ernst. “I’m proud to be leading the charge to strike down this harmful measure and will keep fighting to make sure the voices of the farmers and experts who know best – not liberal California activists – are heard.”
    “California’s Proposition 12, along with Massachusetts’ Question 3, are based on arbitrary, nonsensical standards and have resulted in a harmful patchwork of regulations across the 50 states. They’re a threat to Iowa, which leads the nation in pork production, and to farmers and consumers across this country. Consistent with its authorities under the Commerce Clause, it’s time for Congress to solve this problem by passing legislation. Our bill will end California’s war on breakfast and make sure delicious Iowa pork can be sold everywhere,” said Senator Grassley.
    “The United States is constantly faced with non-tariff trade barriers from protectionist countries, which hurts American agriculture’s access to new markets. The last thing we need is for states like California imposing its will on ag-heavy states like Kansas with regulations that will also restrict our ability to trade among the states,” said Senator Marshall. “Midwest farmers and ranchers who produce our nation’s food supply should not be hamstrung by coastal activist agendas that dictate production standards from hundreds of miles away, and I am proud to support this legislation that gives Kansas agriculture producers the freedom to produce safe, affordable food for all.”
    Agriculture organizations across Iowa support Ernst’s effort:
    “We appreciate Sen. Ernst fighting to protect the livelihoods of Iowa pig farmers by introducing this legislation. The Supreme Court said Congress should address California’s Proposition 12 law regulating sow housing,” said Iowa Pork Producers Association President and pig farmer from Carroll, Iowa, Aaron Juergens. “Congress must act this year to prevent a patchwork of more state regulations from being enacted into law in the future. Since this overburdensome regulation has gone into effect, it’s not only proven costly for producers but consumers as well. We hope Sen. Ernst’s colleagues will join her in supporting efforts to stop Prop 12,”
    “We thank Senator Ernst for standing up for the American pork producer, especially during these times of uncertainty. U.S. pork producers have just suffered the worst 18 months of financial losses in history, and many farm families are contemplating whether they can pass along their farm to the next generation,” said National Pork Producers Council President and Ohio pork producer, Duane Stateler. “We urge the Senate to take up this legislation immediately to provide us much-needed relief.”
    “Iowa soybean farmers are grateful for Senator Ernst’s leadership to address challenges Prop 12 creates for Iowa farmers. It’s crucial we recognize the negative consequences regulations like this create for the entire supply chain, starting with farmers and ending with increased prices for consumers. California’s Prop 12 creates a patchwork of rules that force farmers, including those in Iowa, to comply with costly regulations,” said Iowa Soybean Association President and farmer, Brent Swart. “Not only do the increased costs of compliance threaten to put pork farmers out of business, Prop 12 increases the price of pork at the grocery store by as much as 40%. Higher prices for pork dampen demand for this high-quality protein which negatively impacts market demand for soybeans used for pig feed. This legislation gives us a chance to protect our farms, our livelihoods, and ultimately, families that need affordable food.”
    “The Iowa Cattle industry has made it clear that government overreach and overregulation is incredibly burdensome to industries that provide safe, quality, and sustainable products for the world. Proposition 12 has the potential to further dismantle the livestock industry with the lack of science-based measures. Proposition 12 has already proven to be an unfunded mandate with consumers unwilling to pay premiums for the products that must be compliant with the proposition,” said Iowa Cattlemen’s Association President, Rob Medberry. “The inherent cost to become compliant is overbearing and the simple fact of dollars and cents does not add up. The Iowa Cattlemen’s Association believes that consumers have the right to buy products that fit their desires. However, ICA does not support state-by-state regulation of interstate commerce and fervently opposes proposition 12 and similar legislation that has no sound scientific backing.”
    “Turkey farmers across the nation work tirelessly to ensure the production of safe, wholesome, and nutritious turkey products. Through collaboration with veterinarians and industry experts, farmers adhere to rigorous standards and practices designed to provide optimal care for their birds. This effort includes implementing auditable systems that are continuously monitored and improved to meet evolving standards of animal welfare, food safety, and environmental responsibility,” said Iowa Turkey Federation Executive Director, Gretta Irwin. “The proliferation of varying state and local laws that attempt to regulate farming and processing practices presents significant challenges. These inconsistencies create unnecessary burdens for farmers operating across state lines, hinder efficient production, and undermine well-established, science-based practices developed in coordination with industry experts.
    “The Iowa Corn Growers Association (ICGA) thanks Senator Ernst for her continued pushback on California’s Proposition 12,” said ICGA President and farmer from Galt, Iowa, Stu Swanson. “Iowa’s corn and pig farmers work together to provide nutritious pork to families across the U.S. With barriers like Proposition 12 cutting off our ability to supply fellow Americans with Iowa grown pork, it’s not only those families who are being affected, but also our farm families here in Iowa. As farmers, we take pride in the crops and livestock we raise, and we need support, not restrictions, as we continue supplying a safe, nutritious product to the growing world. We will continue to work with our livestock partners to see that this issue gets resolved.”
    Background:
    Since Proposition 12 passed in 2018, Ernst has been a vocal opponent of California’s attempts to regulate hardworking pork producers in Iowa and is leading the charge to strike down this harmful initiative that threatens all of American agriculture. She has secured critical support from the Trump administration to aid in these efforts.

    MIL OSI USA News

  • MIL-OSI Australia: Woolworths’ proposed acquisition of Beak & Johnston not opposed

    Source: Australian Ministers for Regional Development

    The ACCC will not oppose Woolworths Group Limited’s (ASX:WOW) proposed acquisition of Beak & Johnston Holdings Pty Ltd (B&J).

    Woolworths currently holds a minority 23 per cent interest in B&J City Kitchen Pty Ltd, a subsidiary of B&J which manufactures ready meals and pastries for wholesale and retail sale. The proposed acquisition will result in Woolworths ultimately owning 100 per cent of B&J’s subsidiaries, including Beak & Johnston NZ Pty Ltd. The New Zealand Commerce Commission (NZCC) is also considering a clearance application from Woolworths for its proposed acquisition of B&J. 

    The ACCC considered whether rival ready meal producers to B&J could continue to maintain competitively effective operations even if Woolworths only stocked or otherwise advantaged B&J’s products.

    “Our investigation found that while Woolworths has significant bargaining power in its dealings with ready meal suppliers, in this case it was unlikely the acquisition would have a substantial anti-competitive effect,” ACCC Commissioner Dr Philip Williams said.

    “Rival suppliers of ready meals will continue to have access to other supermarkets and convenience stores. Ready meal suppliers can also distribute through other channels, such as food service wholesaling and direct-to-consumer models.”

    The ACCC also investigated whether Woolworths would have the incentive to prevent the supply of B&J products to rival retailers and any associated impact on competition.

    The review found that there are a number of large competing suppliers of ready meals with similar scale and capabilities to B&J, including some that do not currently supply to Woolworths. There are also several smaller suppliers offering high quality products for niche product segments.

    “Rival retailers will continue to have options for sourcing quality ready meals to suit a variety of consumer preferences,” Dr Williams said.

    “Ultimately, we did not find that the proposed acquisition is likely to substantially lessen competition in any market.”

    More information can be found on the ACCC’s website at Woolworths-Beak & Johnston.

    Background

    Woolworths is Australia’s largest grocery retailer that primarily operates supermarkets, within which it sells chilled and frozen ready meals among other products.

    B&J is a manufacturer of chilled ready meals and pastries and a small amount of frozen ready meals. B&J supplies these products through supermarkets, petrol and convenience stores, as well as food service wholesaling, such as airlines.

    A separate B&J subsidiary, Beak & Johnston Pty Ltd, which primarily manufactures sauces, soups and slow-cooked meats at its Greenacre, NSW facility, will be excluded from the transaction perimeter and will operate as an independent business post-acquisition.

    The NZCC is also considering a clearance application related to Woolworths’ proposed acquisition of B&J.

    The B&J brands that will be included in the proposed acquisition include:

    • Strength Meals Co: Chilled and frozen ready meals
    • Simmone Logue: Gourmet pies, pastries, and cakes
    • Pitango: Soups and other meals
    • Artisano: Soups, sauces, and other meals
    • Pasta Master: Chilled lasagne and past-based ready meals.

    MIL OSI News