Category: Commerce

MIL-OSI Security: Florida Woman Sentenced to 10 Months in Prison for Defrauding Massachusetts Housing Agency

Source: Office of United States Attorneys

BOSTON – A Florida woman was sentenced today in federal court in Boston for defrauding a Massachusetts housing agency where she worked in 2022, along with defrauding the U.S. Small Business Administration (SBA) in connection with the pandemic Paycheck Protection Program (PPP).

Alihea Jones, 51, of Brandon, Fla., was sentenced by U.S. District Court Judge Patti B. Saris to 10 months in prison, to be followed by three years of supervised release. Jones was also ordered to pay $222,074 in restitution and to forfeit $222,074. In September 2024, Jones pleaded guilty to five counts of wire fraud.

In 2022, Jones worked remotely for the Massachusetts Department of Housing and Community Development (DHCD) for six months where she worked with the Residential Aid to Families in Transition (RAFT) program, which provides funds to assist low-income Massachusetts residents facing eviction and other housing emergencies. Immediately after she was terminated, Jones, who was still logged into the RAFT database, accessed the files of four RAFT program participants and authorized electronic payments to their landlords in the amounts of $7,500, $8,800, $6,925 and $10,000. However, Jones changed the routing and bank account numbers from the landlords’ accounts to four unauthorized accounts in Georgia: an account in the name of Jones’s business, Beauty Concepts by Alihea, LLC (Beauty Concepts); Jones’s personal account; and the accounts of persons identified in the charging document as “Friend A” and “Friend B” – all without knowledge or permission from DHCD. After these transfers went through, Friend A and Friend B each paid Jones a $2,000 kickback.

Earlier, in 2021, Jones also fraudulently obtained a $187,000 PPP loan from a Massachusetts lender, which the SBA later forgave. Jones spent most of the money on personal expenses, including clothing and restaurants.

Under the PPP, authorized lenders issued SBA-guaranteed loans to small businesses during the COVID pandemic to help keep workers employed. If a business spent the money on payroll and other permissible business expenses, the SBA forgave the loan.

Jones submitted a PPP loan application to a Massachusetts lender falsely stating that Beauty Concepts had 17 employees and an average monthly payroll expense of $74,800. In fact, Beauty Concepts did not employ anyone. Unaware that Jones’s information was false, the SBA agreed to guarantee a $187,000 loan to Beauty Concepts. The lender transmitted the loan proceeds to the Beauty Concepts account in Georgia. Jones later applied to have her loan forgiven. Again, she included false employee count and payroll information. Unaware that Jones’s representations were false, the SBA forgave the loan principal and accrued interest.

In total, Jones caused a loss of $222,074, with $33,225 payable to the DHCD and $188,849 payable to the SBA.

United States Attorney Leah B. Foley; Massachusetts Inspector General Jeffrey S. Shapiro; and Ketty Larco-Ward, Inspector in Charge of the U.S. Postal Inspection Service’s Boston Division made the announcement today. Assistant U.S. Attorney Christine Wichers of the Public Corruption Unit prosecuted the case.

MIL Security OSI –

March 4, 2025

MIL-OSI: GigaCloud Technology Inc Announces Fourth Quarter and Year Ended December 31, 2024 Financial Results

Source: GlobeNewswire (MIL-OSI)

EL MONTE, Calif., March 03, 2025 (GLOBE NEWSWIRE) — GigaCloud Technology Inc (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise, today announced financial results for the fourth quarter and fiscal year ended December 31, 2024, including a milestone achievement of surpassing $1 billion in total annual revenues for the first time in 2024, and continued robust growth in GigaCloud Marketplace GMV.

Fourth Quarter 2024 Financial Highlights

Total revenues of $295.8 million, increased 20.9% year-over-year.
Gross profit of $65.0 million, decreased 6.9% year-over-year.
Gross margin was 22.0%, compared to 28.5% in the fourth quarter of 2023.
Net income of $31.0 million, decreased 12.9% year-over-year.
Net income margin was 10.5%, compared to 14.5% in the fourth quarter of 2023.
Diluted EPS decreased 12.6% year-over-year to $0.76.
Adjusted EBITDA¹ decreased 29.5% year-over-year to $30.9 million.
Adjusted EPS – diluted² decreased 29.9% year-over-year to $0.75.
Cash, Cash Equivalents, Restricted Cash, and Investments totaled $303.1 million as of December 31, 2024, a 64.5% increase year-over-year.

Full Year 2024 Financial Highlights

Total revenues of $1,161.0 million, increased 65.0% year-over-year.
Gross profit of $285.2 million, increased 51.2% year-over-year.
Gross margin was 24.6%, compared to 26.8% in 2023.
Net income of $125.8 million, increased 33.7% year-over-year.
Net income margin was 10.8%, compared to 13.4% in 2023.
Diluted EPS increased 32.6% year-over-year to $3.05.
Adjusted EBITDA¹ increased 32.6% year-over-year to $156.9 million.
Adjusted EPS – diluted² increased 31.8% year-over-year to $3.81.

Operational Highlights

GigaCloud Marketplace GMV³ increased 68.9% year-over-year to $1,341.4 million for the 12 months ended December 31, 2024.
3P seller GigaCloud Marketplace GMV⁴ increased 62.8% year-over-year to $693.9 million for the 12 months ended December 31, 2024. 3P seller GigaCloud Marketplace GMV represented 51.7% of total GigaCloud Marketplace GMV for the 12 months ended December 31, 2024.
Active 3P sellers⁵ increased 36.3% year-over-year to 1,111 for the 12 months ended December 31, 2024.
Active buyers⁶ increased 85.7% year-over-year to 9,306 for the 12 months ended December 31, 2024.
Spend per active buyer⁷ was $144,142 for the 12 months ended December 31, 2024.

“2024 was a landmark year for GigaCloud as we surpassed $1 billion in total revenues for the first time, a milestone that underscores the strength and resilience of our B2B Marketplace amid a challenging macroeconomic environment,” said Larry Wu, Founder, Chairman, and Chief Executive Officer. “This achievement reflects the growing recognition for our Supplier Fulfilled Retail (SFR) model and our continued success in expanding our platform, driving robust GMV performance. Our global diversification has been a key strength, with standout progress in Europe, which has experienced 155% GMV growth year over year, further validating the broad appeal for our solutions across diverse markets. Our expanding global footprint, deepening partnerships, and relentless focus on innovation continue to fuel our momentum and position us well for the long term. We remain confident in our ability to adapt and maintain our positive trajectory.

In addition, our Board has approved the appointment of Erica Wei as Chief Financial Officer after serving as Interim CFO since August 2024. She has played a key role in strengthening the Company’s financial strategy, leading compliance efforts, and enhancing financial reporting quality, which will be reflected in the upcoming 10-K. Her leadership will be essential as we continue to scale our business and drive long-term growth.”

“Our results reflect robust top-line performance and the strategic investments we are making to scale operations and position GigaCloud for long-term success,” said Erica Wei, Chief Financial Officer. “Despite a challenging macro environment, our ability to adapt and execute has kept us on a path of sustained, stable growth. At the same time, we are committed to enhancing shareholder value. Since our $46 million share repurchase authorization in September, we have executed approximately $29 million in share repurchases under a Rule 10b5-1 plan as of today. Our strong financial position of over $300 million in cash and cash equivalents, restricted cash, and short-term investments, while remaining debt-free, gives us the financial flexibility to continue investing in our platform, expanding globally, and driving sustained value for our shareholders.”

Business Outlook

The Company expects its total revenues to be between $250 million and $265 million in the first quarter of 2025. This forecast reflects the Company’s current and preliminary views on the market and operational conditions, which are subject to change and cannot be predicted with reasonable accuracy as of the date hereof.

Share Repurchase Program

In June 2023, we announced that our board of directors approved a share repurchase program to repurchase up to US$25.0 million of our Class A ordinary shares over the next 12 months, which expired in June 2024. On September 3, 2024, we announced that our board of directors approved a new share repurchase program under which we may purchase up to $46.0 million of our Class A ordinary shares, par value $0.05, over a 12-month period. Under the share repurchase program, we may purchase our ordinary shares through various means, including open market transactions, privately negotiated transactions, block trades, any combination thereof or other legally permissible means. We may effect repurchase transactions in compliance with Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended, or the Exchange Act. The number of shares repurchased and the timing of repurchases will depend on a number of factors, including, but not limited to, price, trading volume and general market conditions, along with our working capital requirements, general business conditions and other factors. Our board of directors will review the share repurchase program periodically, and may modify, suspend or terminate the share repurchase program at any time. We plan to fund repurchases from our existing cash balance.

During the fourth quarter of 2024, we have repurchased 1,033,292 of our Class A ordinary shares at a total consideration of approximately $23 million. Subsequent to the fourth quarter of 2024, the Company has repurchased an aggregate of 283,889 Class A ordinary shares in the open market at a total consideration of approximately $6 million pursuant to a repurchase plan under Rule 10b5-1 of the Exchange Act.

Conference Call

The Company will host a conference call to discuss its financial results at 5:30 pm U.S. Eastern Time on March 3, 2025 (6:30 am Hong Kong Time on March 4, 2025). Participants who wish to join the call should pre-register here at https://s1.c-conf.com/diamondpass/10045735-6sh8hd.html. Upon registration, participants will receive the dial-in number and a unique PIN, which can be used to join the conference call. If participants register and forget their PIN or lose their registration confirmation email, they may re-register to receive a new PIN. All participants are encouraged to dial in 15 minutes prior to the start time.

A live and archived webcast of the conference call will be accessible on the Company’s investor relations website at: https://investors.gigacloudtech.com/.

About GigaCloud Technology Inc

GigaCloud Technology Inc is a pioneer of global end-to-end B2B technology solutions for large parcel merchandise. The Company’s B2B ecommerce platform, the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company’s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. GigaCloud offers a comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories, including home appliances and fitness equipment. For more information, please visit the Company’s website: https://investors.gigacloudtech.com/

Non-GAAP Financial Measures

The Company uses certain non-GAAP financial measures, including Adjusted EBITDA and Adjusted EPS – diluted, to understand and evaluate its core operating performance. Adjusted EBITDA is net income excluding interest, income taxes and depreciation, further adjusted to exclude share-based compensation expense and non-recurring items. Adjusted EPS – diluted is a financial measure defined as our Adjusted EBITDA divided by our diluted weighted-average shares outstanding, respectively. Management uses Adjusted EBITDA and Adjusted EPS – diluted as measures of operating performance, for planning purposes, to allocate resources to enhance the financial performance of our business, to evaluate the effectiveness of our business strategies and in communications with our Board of Directors and investors concerning our financial performance. Non-GAAP financial measures, which may differ from similarly titled measures used by other companies, are presented to enhance investors’ overall understanding of our financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP.

For more information on the non-GAAP financial measures, please see the tables captioned “Unaudited Reconciliation of Adjusted EBITDA” and “Unaudited Reconciliation of Adjusted EPS – diluted” set forth at the end of this press release.

Forward-Looking Statements

This press release contains “forward-looking statements”. Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

For investor and media inquiries, please contact:

GigaCloud Technology Inc

Investor Relations

Email: ir@gigacloudtech.com

PondelWilkinson, Inc.

Laurie Berman (Investors) – lberman@pondel.com

George Medici (Media) – gmedici@pondel.com


GigaCloud Technology Inc UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands except for share data and per share data)

	December 31,
	2024			2023
ASSETS
Current assets
Cash and cash equivalents	$	259,759		$	183,283
Restricted cash		685			885
Investments		42,674			—
Accounts receivable, net		57,313			58,876
Inventories		172,489			132,247
Prepayments and other current assets		14,672			17,516
Total current assets		547,592			392,807
Non-current assets
Operating lease right-of-use assets		451,930			398,922
Property and equipment, net		29,498			24,614
Intangible assets, net		6,198			8,367
Goodwill		12,586			12,586
Deferred tax assets		10,026			1,440
Other non-current assets		12,645			8,173
Total non-current assets		522,883			454,102
Total assets	$	1,070,475		$	846,909



	2024			2023
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable (including accounts payable of VIEs without recourse to the Company of $nil and $11,563 as of December 31, 2024 and 2023, respectively)	$	78,163		$	69,757
Contract liabilities (including contract liabilities of VIEs without recourse to the Company of $nil and $736 as of December 31, 2024 and 2023, respectively)		4,486			5,537
Current operating lease liabilities (including current operating lease liabilities of VIEs without recourse to the Company of $nil and $1,305 as of December 31, 2024 and 2023, respectively)		88,521			57,949
Income tax payable (including income tax payable of VIEs without recourse to the Company of $nil and $3,644 as of December 31, 2024 and 2023, respectively)		13,615			15,212
Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of VIEs without recourse to the Company of $nil and $2,774 as of December 31, 2024 and 2023, respectively)		79,594			57,319
Total current liabilities		264,379			205,774
Non-current liabilities
Operating lease liabilities, non-current (including operating lease liabilities, non-current of VIEs without recourse to the Company of $nil and $553 as of December 31, 2024 and 2023, respectively)		395,235			343,511
Deferred tax liabilities		941			3,795
Finance lease obligations, non-current		382			111
Non-current income tax payable		4,321			3,302
Total non-current liabilities		400,879			350,719
Total liabilities	$	665,258		$	556,493
Commitments and contingencies



	2024			2023
Shareholders’ equity
Treasury shares, at cost (609,390 and 294,029 shares held as of December 31, 2024 and 2023, respectively)	$	(11,816	)	$	(1,594	)
Class A ordinary shares ($0.05 par value, 50,673,268 shares authorized, 32,878,735 and 31,738,632 shares issued as of December 31, 2024 and 2023, respectively, 32,269,345 and 31,455,148 shares outstanding as of December 31, 2024 and 2023, respectively)		1,643			1,584
Class B ordinary shares ($0.05 par value, 9,326,732 shares authorized, 8,076,732 and 9,326,732 shares issued and outstanding as of December 31, 2024 and 2023)		403			466
Additional paid-in capital		120,262			111,736
Accumulated other comprehensive income (loss)		(4,136	)		526
Retained earnings		298,861			177,698
Total shareholders’ equity		405,217			290,416
Total liabilities and shareholders’ equity	$	1,070,475		$	846,909


GigaCloud Technology Inc UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In thousands except for share data and per share data)

	Three Months Ended December 31,						Year Ended December 31,
	2024			2023			2024			2023
Revenues
Service revenues	$	97,107		$	69,336		$	350,273		$	199,184
Product revenues		198,675			175,401			810,769			504,647
Total revenues		295,782			244,737			1,161,042			703,831
Cost of revenues
Services		78,188			57,291			284,951			161,215
Product sales		152,604			117,609			590,855			353,983
Total cost of revenues		230,792			174,900			875,806			515,198
Gross profit		64,990			69,837			285,236			188,633
Operating expenses
Selling and marketing expenses		18,041			14,004			70,686			41,386
General and administrative expenses		16,979			13,130			73,944			30,008
Research and development expenses		2,356			2,344			9,791			3,925
Gains (losses) on disposal of property and equipment		(20	)		3,236			193			3,236
Total operating expenses		37,356			32,714			154,614			78,555
Operating income		27,634			37,123			130,622			110,078
Interest expense		(29	)		(108	)		(256	)		(1,240	)
Interest income		2,849			1,293			9,405			3,304
Foreign currency exchange gains (losses), net		(754	)		4,239			(1,233	)		2,086
Government grants		8			438			37			911
Others, net		678			(137	)		2,039			(144	)
Income before income taxes		30,386			42,848			140,614			114,995
Income tax expense		573			(7,273	)		(14,806	)		(20,887	)
Net income	$	30,959		$	35,575		$	125,808		$	94,108
Net income attributable to ordinary shareholders		30,959			35,575			125,808			94,108
Foreign currency translation adjustment, net of nil income taxes		(715	)		232			(1,266	)		(278	)
Net unrealized gains (losses) on available-for-sale investments		(12	)		—			7			—
Intra-entity foreign currency transactions gain (loss)		(2,565	)		—			(2,565	)		—
Release of foreign currency translation reserve related to liquidation of subsidiaries		(838	)		—			(838	)		—
Total other comprehensive income (loss)		(4,130	)		232			(4,662	)		(278	)
Comprehensive Income	$	26,829		$	35,807		$	121,146		$	93,830
Net income per ordinary share
—Basic	$	0.76		$	0.87		$	3.06		$	2.31
—Diluted	$	0.76		$	0.87		$	3.05		$	2.30
Weighted average number of ordinary shares outstanding used in computing net income per ordinary share
—Basic		40,869,106			40,770,882			41,079,672			40,788,448
—Diluted		40,944,311			40,901,772			41,201,026			40,922,590


GigaCloud Technology Inc UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands)

	Year Ended December 31,
	2024			2023
Cash flows from operating activities:
Net income	$	125,808		$	94,108
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		8,524			2,873
Share-based compensation		16,825			2,503
Operating lease		29,282			2,485
Changes in accounts receivables, net		(234	)		(5,058	)
Changes in inventories		(46,875	)		(16,514	)
Changes in prepayments and other assets		(1,665	)		(9,249	)
Changes in accounts payable, accrued expenses and other current liabilities		38,188			46,258
Changes in contract liabilities		(992	)		1,473
Changes in income tax payable		(1,023	)		10,977
Changes in deferred income taxes		(11,462	)		398
Other operating activities		1,702			3,198
Net cash provided by operating activities		158,078			133,452
Cash flows from investing activities:
Cash paid for purchase of property and equipment		(15,536	)		(4,380	)
Cash received from disposal of property and equipment		2,103			462
Acquisitions, net of cash acquired		—			(86,629	)
Purchases of investments		(73,831	)		—
Sale and maturities of investments		31,845			—
Net cash used in investing activities		(55,419	)		(90,547	)
Cash flows from financing activities:
Repayment of finance lease obligations		(1,726	)		(2,212	)
Repayment of bank loans		—			(197	)
Repurchases of ordinary shares		(23,243	)		(1,594	)
Net cash used in financing activities		(24,969	)		(4,003	)
Effect of foreign currency exchange rate changes on cash and restricted cash		(1,414	)		190
Net increase in cash and restricted cash		76,276			39,092
Cash and restricted cash at the beginning of the year		184,168			145,076
Cash and restricted cash at the end of the year	$	260,444		$	184,168
Supplemental disclosure of cash flow information
Cash paid for interest expense		256			1,240
Cash paid for income taxes		26,301			9,512
Non-cash investing and financing activities:
Purchase of property and equipment under finance leases		767			—
Reversal of subscription receivable from ordinary shares		—			312
Fair value of assets acquired by acquisition		—			273,086
Cash paid for business combinations and asset purchases		—			87,568
Liabilities assumed by acquisition		—			(185,518	)


GigaCloud Technology Inc UNAUDITED RECONCILIATION OF ADJUSTED EBITDA (In thousands, except for per share data)

	Three Months Ended December 31,						Year Ended December 31,
	2024			2023			2024			2023
	(In thousands)
Net income	$	30,959		$	35,575		$	125,808		$	94,108
Add: Income tax expense		(573	)		7,273			14,806			20,887
Add: Interest expense		29			108			256			1,240
Less: Interest income		(2,849	)		(1,293	)		(9,405	)		(3,304	)
Add: Depreciation and amortization		2,271			1,723			8,524			2,873
Add: Share-based compensation expense		1,245			429			16,825			2,503
Add: Non-recurring items⁽¹⁾		(180	)		—			128			—
Adjusted EBITDA	$	30,902		$	43,815		$	156,942		$	118,307

_____________________
(1) One of our fulfillment centers in Japan experienced a fire in March 2024. The fire destroyed our inventories located within the fulfillment center. We recognized losses of $2.0 million as a result of the fire in 2024. Based on the provisions of our insurance policies, the gross losses were reduced by the insurance proceeds received $1.9 million from our insurance carrier for the claim. We do not believe such losses to be recurring or frequent in nature.


UNAUDITED RECONCILIATION OF ADJUSTED EPS – DILUTED

	Three Months Ended December 31,						Year Ended December 31,
	2024			2023			2024			2023
Net income per ordinary share – diluted	$	0.76		$	0.87		$	3.05		$	2.30
Adjustments, per ordinary share:
Add: Income tax expense		(0.01	)		0.18			0.36			0.51
Add: Interest expense		—			—			0.01			0.03
Less: Interest income		(0.07	)		(0.03	)		(0.23	)		(0.08	)
Add: Depreciation and amortization		0.05			0.04			0.21			0.07
Add: Share-based compensation expenses		0.02			0.01			0.41			0.06
Add: Non-recurring items⁽¹⁾		—			—			—			—
Adjusted EPS – diluted	$	0.75		$	1.07		$	3.81		$	2.89

Weighted average number of ordinary shares outstanding – diluted		40,944,311			40,901,772			41,201,026			40,922,590

_____________________

¹ Adjusted EBITDA is a non-GAAP financial measure. For more information on the non-GAAP financial measure, please see the section of “Non-GAAP Financial Measures” and the table captioned “Unaudited Reconciliation of Adjusted EBITDA” set forth at the end of this press release.

² Adjusted EPS – diluted is a non-GAAP financial measure. For more information on the non-GAAP financial measure, please see the section of “Non-GAAP Financial Measures” and the table captioned “Unaudited Reconciliation of Adjusted EPS – diluted” set forth at the end of this press release.

³ GigaCloud Marketplace GMV means the total gross merchandise value of transactions ordered through our GigaCloud Marketplace including GigaCloud 3P and GigaCloud 1P, before any deductions of value added tax, goods and services tax, shipping charges paid by buyers to sellers and any refunds.

⁴ 3P seller GigaCloud Marketplace GMV means the total gross merchandise value of transactions sold through our GigaCloud Marketplace by 3P sellers, before any deductions of value added tax, goods and services tax, shipping charges paid by buyers to sellers and any refunds.

⁵ Active 3P sellers means sellers who have sold a product in GigaCloud Marketplace within the last 12-month period, irrespective of cancellations or returns.

⁶ Active buyers means buyers who have purchased a product in the GigaCloud Marketplace within the last 12-month period, irrespective of cancellations or returns.

⁷ Spend per active buyer is calculated by dividing the total GigaCloud Marketplace GMV within the last 12-month period by the number of active buyers as of such date.

The MIL Network –

March 4, 2025

MIL-OSI: Exodus Reports Fourth Quarter and Full Year 2024 Results, Provides Preliminary First Quarter 2025 Highlights

Source: GlobeNewswire (MIL-OSI)

OMAHA, Neb., March 03, 2025 (GLOBE NEWSWIRE) — Exodus Movement, Inc. (NYSE American: EXOD) (“Exodus”), a leading self-custodial cryptocurrency platform, today announced its preliminary results for the fourth quarter and full year ended December 31, 2024. The Company reported preliminary full year revenue of $116.3 million for fiscal 2024, an increase of 107% compared to fiscal 2023.

Preliminary Fourth Quarter and Full Year 2024 Financial Highlights (Unaudited)

In USD millions, except percentages

Q4 2024

Q4 2023

% Change

2024

2023

% Change

Revenue

44.8

18.5

143%

116.3

56.2

107%

Gain on digital assets, net

56.9

1.1

4,866%

96.1

1.4

6,616%

“In the fourth quarter, in addition to record revenue we achieved milestones that significantly advanced our product innovation and strengthened our market position,” said JP Richardson, CEO and co-founder of Exodus.

“The expansion of our partnership ecosystem and the continued momentum of XO Swap reinforce our commitment to making digital asset ownership seamless and secure. We believe XO Swap’s increasing industry adoption highlights demand for self-custody solutions that offer transparency and efficiency. Meanwhile, Passkeys Wallet removes onboarding friction with an intuitive, self-custody experience that is designed to eliminate the need for traditional passwords and recovery phrases. Simplified access to digital assets should empower more users to participate in the evolving Web3 ecosystem.”

Fourth Quarter and Full Year Operational and Other Financial Highlights (Unaudited)

Exchange provider processed volume – $2.33 billion in Q4 2024, up 172% from Q4 2023. Bitcoin, Tether (ETH Network), and Tether (TRX Network) were the top assets traded in Q4 2024, at 37%, 25%, and 24% of volume, respectively.
Exodus monthly active users¹– 2.3 million as of end of Q4 2024, up 64% from 1.4 million as of end of Q4 2023.
Digital assets and cash – $264.7 million, including $190.1 million in bitcoin and ether and $68.4 million in cash and cash equivalents, USD Coin (USDC), and Treasury bills as of December 31, 2024.
Full-time equivalent team members – approximately 210 at 2024 year-end, an increase of approximately 20 from the prior year.
Customer response time – average response time of less than 60 minutes in Q4.

“In Q4, we delivered improved profitability, demonstrating the operating leverage of our business model and the increasing adoption of our ecosystem,” said James Gernetzke, CFO of Exodus. “We are further encouraged by the early success of XO Swap, which contributed 12% of revenue in Q4. We believe our ability to drive higher transaction volumes through both product innovation and strategic initiatives positions Exodus for continued momentum in 2025.”

Preliminary First Quarter 2025 Highlights (Unaudited):

We are providing preliminary first quarter 2025 highlights. These selected preliminary metrics have not been reviewed by Deloitte & Touche LLP, our independent registered public accounting firm, do not reflect our 2025 first quarter end results, are subject to completion of our fiscal quarter and our financial reporting processes, are based on information known by management as of the date of this press release, and do not represent a comprehensive statement of our financial results for the quarter ending March 31, 2025.

Digital assets held as of February 28, 2025 consisted of over 2,000 bitcoin and over 2,660 ether (in units).
Exchange provider processed volume was $1.45 billion for the two-month period from January 1, 2025 through February 28, 2025. This amount exceeds the $1.35B volume recorded in the full prior year quarter, Q1 2024, a record-setting quarter at the time.

Q4 2024 Webcast

Exodus will host a webcast of its fourth quarter and full year ended December 31, 2024 results beginning at 4:30PM (Eastern Time) on March 3, 2025. To access the webcast, please use this link. It will also be available on the Company’s Investor Relations website exodus.com/investors. Supplementary materials will also be made available prior to the webcast on the “Investor Relations” portion of the Company website, and a replay of the video webcast will be available following the live event for at least 90 days thereafter.

Upcoming Conferences

Exodus plans to attend the following conferences:

Investor Contact
investors@exodus.com

Disclosure Information

Exodus may use its website and the following social media outlets as distribution channels of material nonpublic information about the Company. Financial and other important information regarding the Company is routinely accessible through and posted on the following: websites exodus.com/investors and exodus.com/blog, and social media: X (@exodus and JP Richardson’s feed @jprichardson), Facebook, LinkedIn, and YouTube.

Information Regarding Preliminary Metrics

Because the 2025 first quarter is ongoing, our results for the 2025 first quarter are not complete. Actual results following the completion of the fiscal quarter end may differ materially from the express selected preliminary metrics herein and any implied preliminary results because of the completion of the fiscal quarter end, our financial reporting processes and closing procedures, final adjustments and other developments after the date of this press release. In addition, these selected preliminary metrics should not be viewed as a substitute for our financial statements for the quarter ended March 31, 2025 that will be prepared in accordance with GAAP. Accordingly, you should not place undue reliance upon these preliminary metrics.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements are based on our beliefs and assumptions and on information currently available to us as of the date hereof. In some cases, you can identify forward-looking statements by the following words: “will,” “expect,” “would,” “should,” “intend,” “believe,” “expect,” “likely,” “believes,” “views”, “estimates”, or other comparable terminology. Forward-looking statements in this document include, but are not limited to, our preliminary financial information, including digital asset holdings, exchange provider processed volumes and our fiscal quarter end results, management statements regarding management’s confidence in our products, services, business trajectory and plans, expectations regarding demand for our products; and our ability to deliver higher transaction volumes. Such forward-looking statements involve a number of risks, uncertainties and other important factors that could cause our actual results to differ materially from those expressed or implied by our forward-looking statements. Such factors include those set forth in “Item 1. Business” and “Item 1A. Risk Factors” of Amendment No. 6 to our Registration Statement on Form 10 filed with the Securities and Exchange Commission (the “SEC”) on November 27, 2024, as well as in our other reports filed with the SEC from time to time. All forward-looking statements are expressly qualified in their entirety by such cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Except as required by law, we undertake no obligation to update or revise any forward-looking statements that have been made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.

________________________
^¹ Monthly active users as of December 31, 2024.

The MIL Network –

March 4, 2025

MIL-OSI Submissions: Africa Women Innovation and Entrepreneurship Forum (AWIEF) launches Call for Applications for its Growth Accelerator programme with support from African Guarantee Fund and FSDH Merchant Bank Limited

SOURCE: Africa Women Innovation and Entrepreneurship Forum (AWIEF)

The tri-party collaboration between AWIEF, AGF, and FSDH Merchant Bank Limited was created with the aim to increase access to finance for WSMEs who are driving solutions in different catalytic sectors in Nigeria

LAGOS, Nigeria, March 3, 2025/ — The Africa Women Innovation and Entrepreneurship Forum (AWIEF) (www.AWIEForum.org/home-awief/) has partnered with African Guarantee Fund (AGF) and FSDH Merchant Bank Limited to implement its flagship AWIEF Growth Accelerator programme in Nigeria and is excited to announce the call for applications.

Background

Limited access to finance remains a significant barrier for women entrepreneurs in Africa, with a staggering financing gap estimated at USD 49 billion. To address this challenge, the Growth Accelerator Programme leverages the African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative, which aims to unlock up to USD 3 billion in financing for women-owned/led Small and Medium-Sized Enterprises (WSMEs) across the continent.

AGF, a leading non-bank financial institution whose objective is to promote economic development, increase employment and reduce poverty in Africa, serves as the implementing partner for AFAWA. AGF’s commitment extends into providing technical assistance to partner financial institutions, enhancing their capacity to serve women-owned businesses effectively. By addressing both supply and demand-side constraints, AGF and AFAWA work in tandem to create a more equitable landscape for women entrepreneurs in Africa.

FSDH Merchant Bank Limited partnership with AGF is backed by AFAWA to enable the Partner Financial Institution (PFI) provide loans to WSMEs in Nigeria. FSDH Merchant Bank Limited is dedicated to empowering women in business across Nigeria and drives its gender strategy through its Women in Business Initiative (WIBI).

The tri-party collaboration between AWIEF, AGF, and FSDH Merchant Bank Limited was created with the aim to increase access to finance for WSMEs who are driving solutions in different catalytic sectors in Nigeria. This will be achieved by making the WSMEs credit and investment-ready and eligible to access business loans and financing from FSDH Merchant Bank Limited. The programme will provide a stream of businesses that are adequately prepared to meet the FSDH Merchant Bank’s credit requirements.

Call for Applications

Applications are open to qualifying businesses. The programme will attract and select a cohort of 100 beneficiaries, comprising women entrepreneurs and founders with businesses registered and operating in Nigeria who will participate in the 12-month Growth Accelerator and will benefit from a wide range of tailored and refined business development mentorship, training, and advisory services.

Eligibility Criteria

Businesses must meet ONE of the following criteria:

Entrepreneurship & Ownership:

51% share of women ownership OR Business founded by a woman.

OR

Leadership:

At least 20% share of women in senior management or 10% share of women on the Board.

OR

Products & Services:

Product(s) or service(s) enhance(s) well-being of women/girls and/or drive(s) gender equity.

Additionally, businesses must be:

Based and operating in Nigeria.
In post-revenue stage.
Highly innovative and scalable ventures.
In operation for not less than three years.
Owned and/or led by ambitious and committed entrepreneurs.
Seeking for investment, credit or financing to scale and expand.

What Are the Benefits for Participants?

Access to high-level training, mentorship, and business advisory.
Improved technical, managerial, leadership, and interpersonal skills aligned with the priority needs of their businesses.
Increased creditworthiness and capacity to meet the AGF PFI’s financing requirements.
Post-capacity building and loan application support.
Enhanced access to other financing opportunities.
Effective integration of the WSMEs into the financial ecosystem.
Expanded peer networks in Nigeria and across the African continent.

Applications Open Now!

Applications are officially open for qualifying candidates for the AWIEF Growth Accelerator, in partnership with AGF and FSDH Merchant Bank Limited.

To submit your application and for more programme details, please follow this link: https://apo-opa.co/3DgIuo0

The deadline for submission is Monday, 31 March 2025 at 11:59pm West Africa Time (WAT).

MIL OSI – Submitted News –

March 4, 2025
MIL-OSI New Zealand: Science – Seafloor of New Zealand’s most important fishing grounds shows resilience – NIWA

Source: NIWA

Sea life in the seafloor of New Zealand’s most productive and important commercial fishing ground shows resilience to disturbance, according to a new study published in the New Zealand Journal of Marine and Freshwater Research.

The research found that some aspects of seafloor ecosystems on the Chatham Rise showed an ability to recover relatively quickly from physical disturbances, such as those caused by seafloor mining and trawling.

The research suggests that the seafloor ecosystem of the Chatham Rise may be more resilient to disturbances than previously thought, says NIWA marine ecologist Dr Rachel Hale, lead author for the study. “This resilience may be due to the region’s history of natural and human disturbances, which has led to the dominance of opportunistic species. While our results are encouraging, it’s important to note that there were some post-disturbance changes in the environmental characteristics that were measured. These changes, particularly in the composition of seafloor communities, may have longer-term repercussions for ecosystem processes.”

Researchers disturbed an area of seafloor on the Chatham Rise and monitored the impacts on sediment, seafloor-dwelling aquatic animals, and took measurements of oxygen and nutrient fluxes, and bacterial abundance. They found disturbance changed the sediment composition, reducing food quality, and initially reducing the diversity of seafloor-dwelling aquatic life, though after a year some of the aquatic life had bounced back. Contrary to expectation, the disturbance didn’t result in significant changes to the nutrient levels, and the rapid recolonization of the seabed saw bacteria levels recover.

The study revealed the resilience of the sea floor to disturbance, but also highlights potential long-term changes that need more investigation, says Dr Hale. “Expansion of extractive industries to deep-sea environments will lead to increased stresses on seafloor ecosystems. Further long-term studies are required to fully understand the potential impacts of disturbance on sediment processes, nutrient cycling, and the overall health of the Chatham Rise ecosystem.”

The Chatham Rise is a large area of ocean floor around 1,400km east of New Zealand which stretches some 1,000 km long. The underwater plateau, accessible to trawling, provides about 60% of New Zealand’s fish catch, including hoki, hake, ling, warehou, squid, orange roughy and deep-sea dory. Data from research has enriched models and enabled long-term monitoring, with NIWA undertaking surveys since 1992 on fisheries and ecosystems.

The research was a NIWA collaboration with Victoria University of Wellington and Waikato University.

This research was undertaken as part of the Resilience of benthic communities to the effects of sedimentation (ROBES) programme funded by the New Zealand Ministry of Business, Innovation and Employment (contract CO1X1614).

MIL OSI New Zealand News –

March 4, 2025

MIL-OSI USA: Press Release: FDIC Board of Directors Approves Proposal to Rescind 2024 Bank Merger Policy Statement

Source: US Federal Deposit Insurance Corporation FDIC

WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a proposal to rescind the agency’s 2024 Statement of Policy on Bank Merger Transactions. The FDIC’s proposal will reinstate, on an interim basis, the Merger Policy Statement that was in effect prior to 2024 as the agency conducts a broader reevaluation of its bank merger review process.

The proposal approved today seeks to address concerns the 2024 Statement added considerable uncertainty to the merger application process. While the FDIC considers broader revisions to its merger policy, the FDIC is proposing to return to its historical approach, which is well-understood by market participants. Interested parties may submit written comments on this proposal up until 30 days after publication in the Federal Register.

ATTACHMENTS:
Federal Register Notice
Financial Institution Letter

###

MEDIA CONTACT:
MediaRequests@fdic.gov

The FDIC does not send unsolicited e-mail. If this publication has reached you in error, or if you no longer wish to receive this service, please unsubscribe.

MIL OSI USA News –

March 4, 2025

MIL-OSI Security: Shelton Man Admits Fraudulently Obtaining COVID-19 Relief Funds

Source: Office of United States Attorneys

Marc H. Silverman, Acting United States Attorney for the District of Connecticut, today announced that on February 28, 2025, VINCENZO MINUTOLO, 38, of Shelton, waived his right to be indicted and pleaded guilty before U.S. District Judge Kari A. Dooley in Bridgeport to offenses related to his fraudulent receipt of COVID-19 relief funds.

According to court documents and statements made in court, on March 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act provided emergency financial assistance to Americans suffering the economic effects caused by the COVID-19 pandemic. One source of relief provided by the CARES Act was the authorization of forgivable loans to small businesses for job retention and certain other expenses through the Paycheck Protection Program (PPP). In April 2020, Congress authorized more than $300 billion in additional PPP funding. The PPP allowed qualifying small businesses and other organizations to receive unsecured loans at an interest rate of 1%. PPP loan proceeds were to be used by businesses on payroll costs, interest on mortgages, rent and utilities. The PPP allowed the interest and principal to be forgiven if businesses spent the proceeds on these expenses within a certain period of time of receipt and used at least a certain percentage of the amount to be forgiven for payroll.

The PPP was overseen by the Small Business Administration, which has authority over all PPP loans. Individual PPP loans, however, were issued by private approved lenders, which received and processed PPP applications and supporting documentation, and then made loans using the lenders’ own funds, which were guaranteed by the SBA.

Minutolo claimed an ownership interest or representative relationship with City Sounds Productions LLC (“City Sounds”). Between March and September 2021, Minutolo defrauded the PPP loan program of more than $145,000 by providing false information on loan applications for City Sounds, including overstating the yearly gross income for City Sounds; misrepresenting that similar PPP loans had not been or would not be sought when he had, in fact, sought and obtained, and intended to seek and obtain, such loans; and providing fraudulent IRS tax filings and tax payment vouchers for City Sounds that had, in fact, never been filed with the IRS. Similarly, on the forgiveness applications he submitted, Minutolo materially misrepresented having complied with all the requirements of the PPP rules.

In addition, the CARES Act created a new temporary federal unemployment insurance program for pandemic unemployment assistance (“Pandemic Unemployment Assistance”). Pandemic Unemployment Assistance provided unemployment insurance (“UI”) benefits for employed individuals who are not eligible for other types of UI due to their employment status. The CARES Act also created a new temporary federal program called Federal Pandemic Unemployment Compensation (“FPUC”) that provided additional weekly benefits to those eligible for Pandemic Unemployment Assistance or regular UI. The Connecticut Department of Labor (CT-DOL) administers UI benefits for residents of Connecticut.

Between March 2020 and April 2021, Minutolo defrauded the CT-DOL of at least $86,000, and as much as approximately $273,000, by providing the CT-DOL with fraudulent Pandemic Unemployment Assistance applications seeking unemployment insurance payments in others’ names, including individuals who had died, and individuals who did not know that their name and sometimes other personal information was being used. One fraudulent application was for Minutolo’s grandfather, who died in 2014, and included a telephone number associated with Minutolo. Minutolo continued to make online weekly certifications to the CT-DOL attesting that the information contained in his grandfather’s application, and other applications, were true in order to receive continued unemployment insurance benefits.

Minutolo pleaded guilty to two counts of wire fraud, an offense that carries a maximum term of imprisonment of 20 years on each count. Judge Dooley scheduled sentencing for May 23. Minutolo is released on a $50,000 bond pending sentencing.

This matter is being investigated by Homeland Security Investigations (HIS) and the U.S. Department of Labor Office of the Inspector General. The case is being prosecuted by Assistant U.S. Attorney Christopher W. Schmeisser.

Individuals with information about allegations of fraud involving COVID-19 are encouraged to report it by calling the Department of Justice’s National Center for Disaster Fraud Hotline at 866-720-5721, or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

MIL Security OSI –

March 4, 2025
MIL-OSI USA: Cassidy, Barrasso, Colleagues Introduce Bill to Repeal Biden Tax on American Energy, Manufacturing

US Senate News:

Source: United States Senator for Louisiana Bill Cassidy
WASHINGTON – U.S. Senators Bill Cassidy, M.D. (R-LA), John Barrasso (R-WY), and colleagues introduced legislation to repeal the largest tax hike from the Democrats’ 2022 reckless tax and spending bill that makes it harder to invest, produce, and manufacture in the United States.
“The American dream is becoming out of reach for many Americans. We should be investing in American energy, manufacturing, and jobs,” said Dr. Cassidy. “This bill is pro-American worker and pro-Louisiana.”
“Reckless and complicated taxes like the book minimum tax undermine our nation’s supply chain, threaten our energy security, and send jobs and investments overseas,” said Senator Barrasso. “Companies that want to invest in our country, create more American jobs, and unleash American energy don’t need more punishing taxes. They especially don’t need unelected bureaucrats gaining more control of U.S. tax policy. We need to repeal this reckless and failed tax once and for all.”
The book minimum tax is an arcane tax on U.S. job creators investing in America. The tax removes longstanding provisions to help promote economic growth and investments while creating loopholes for special interest groups. The Book Minimum Tax Repeal Act will end this harmful provision and stop unelected bureaucrats from manipulating tax policy to benefit their favorite industries.
The legislation is supported by the National Association of Manufacturers, American Petroleum Institute, American Institute of Certified Public Accountants, National Mining Association, Independent Petroleum Association of America, Energy Infrastructure Council, U.S. Chamber of Commerce, Interstate Natural Gas Association of America, and the Western Energy Alliance.
Cassidy and Barrasso were joined by U.S. Senators Mike Crapo (R-ID), James Lankford (R-OK), Jim Risch (R-ID), Cynthia Lummis (R-WY), Steve Daines (R-MT), Marsha Blackburn (R-TN), and Pete Ricketts (R-NE) in cosponsoring the legislation.

MIL OSI USA News –

March 4, 2025
MIL-OSI Canada: Premier’s statement on U.S. preliminary softwood lumber decision

Premier David Eby has issued the following statement in response to the U.S. Department of Commerce’s announcement that it intends to more than double anti-dumping duties imposed on Canadian softwood lumber exporters:

”B.C.’s iconic forestry sector and the people whose livelihoods depend on it have faced immense challenges for years and, today, are facing a new, massive threat. We strongly denounce this latest announcement by the United States. B.C. has long maintained that any and all duties on softwood lumber are unjustified, and these anti-dumping duties are based on a biased calculation – one that has been criticized by many of the United States’ trading partners.

“Today’s announcement comes amidst U.S. President Donald J. Trump’s threat to put a 25% tariff on all products exported from our country to the United States, compounding the challenges for this important industry in B.C. It also follows the U.S. President’s order this past weekend to initiate another, separate investigation of forest products, with the possibility of additional tariffs, quotas or other actions aimed at curbing imports of forest products to the U.S. These are unwarranted attacks, and not how allies treat each other. We are stronger when we work together. If the tariffs are imposed, we will stand with Team Canada to respond with strength.

“The U.S. Department of Commerce’s announcement today will impact all Canadian companies selling lumber to the United States, when and if the decision is confirmed later this summer. American homes will be more expensive to build and hardworking people in our province will bear the brunt of these unwarranted duties. Both Canadians and Americans need an end to this trade dispute.

“For workers who rely on the forestry industry to support their families, or British Columbians who are anxious about other tariffs the U.S. is threatening to impose, our commitment is to fight hard to defend your jobs and the services you rely on. And no matter what comes – we will never be the 51st state.”

MIL OSI Canada News –

March 4, 2025
MIL-OSI USA: NASA Names Norman Knight as Acting Deputy Director of Johnson Space Center

Source: NASA

NASA has selected Norman Knight as acting deputy director of Johnson Space Center. Knight currently serves as Director of Johnson’s Flight Operations Directorate (FOD), responsible for astronaut training and for overall planning, directing, managing, and implementing overall mission operations for NASA human spaceflight programs. This also includes management for all Johnson aircraft operations and aircrew training. Knight will serve in this dual deputy director and FOD director role for the near term.
“It is an honor to accept my new role as acting deputy director for Johnson,” Knight said. “Human spaceflight is key to our agency’s mission and our Johnson team is unified in that goal. The successes we see every day are the evidence of that. It never ceases to amaze me what our team is capable of.”
Knight began his career at the Johnson Space Center as a Space Shuttle mechanical systems flight controller, working 40 missions in this capacity. He progressed through management roles with increasing responsibility, and in 2000, he was selected as a flight director and worked in that capacity for numerous International Space Station expeditions and Space Shuttle missions. In 2009, he became the deputy chief of the Flight Director Office and participated in a NASA fellowship at Harvard Business School in general management. In 2012, Knight was selected as the chief of the Flight Director Office and then in 2018 as deputy director of the Flight Operations Directorate after serving a temporary assignment as the assistant administrator, Human Exploration and Operations Mission Directorate at NASA Headquarters. In 2021, Knight was selected as the director of FOD.
“Norm has an accomplished career within the agency,” said Steven Koerner, Johnson acting director. “His leadership, expertise, and dedication to the mission will undoubtably drive our continued success.”
Throughout his career, Knight has been recognized for outstanding technical achievements and leadership, receiving a Spaceflight Awareness Honoree award for STS-82. He also received several center and agency awards, including two Exceptional Achievement medals, multiple Johnson and agency group achievement awards, two Superior Accomplishment awards, an Outstanding Leadership medal, the Johnson Director’s Commendation award, and the Distinguished Service medal.
Knight earned a bachelor’s degree in aeronautical engineering from the Embry Riddle Aeronautical University in 1990.

MIL OSI USA News –

March 4, 2025
MIL-OSI USA: FEMA to Host Housing Resource Fair Mar. 8 in Coffee County

Source: US Federal Emergency Management Agency

Headline: FEMA to Host Housing Resource Fair Mar. 8 in Coffee County

FEMA to Host Housing Resource Fair Mar. 8 in Coffee County

FEMA is hosting a Housing Resource Fair from 9 a.m. to 5 p.m., Saturday, Mar. 8, in Coffee County at the following location:The Atrium114 North Peterson Ave Douglas, GA 31533 The Housing Resource Fair will bring together federal, state and local agencies in one place to offer services and resources to families recovering from Hurricane Helene. The goal of this collaborative effort is to help connect eligible disaster survivors with affordable housing along with valuable information and resources on their road to recovery.Survivors will meet with local housing organizations, property owners and landlords, as well as gain information on the HEARTS Georgia Sheltering Program, and U.S. Small Business Administration (SBA) loans.The Housing Resource Fair is an opportunity for survivors to: Explore affordable housing options and rental assistance programs. Meet with representatives from local housing organizations, landlords and property managers. Gain access to resources for displaced individuals and families. Learn about community partners that will provide educational funding resources to attendees. For FEMA Federal Coordinating Officer Kevin Wallace, the Housing Resource Fair will give survivors that needed one-on-one experience: “We want survivors to know we are here for them and want to see the best outcome, which is moving into safe, sanitary and functioning housing,” he said. “We will walk them through their options to ensure they are aware of the resources that are available to fit their need.”Anyone who was affected by Tropical Storm Debby or Hurricane Helene, whether they have applied for FEMA assistance or not, is welcome to attend.
jakia.randolph
Mon, 03/03/2025 – 13:17

MIL OSI USA News –

March 4, 2025
MIL-OSI Asia-Pac: IIFT Signs MoU with APEC – Antwerp/Flanders Port Training Center, Belgium to Strengthen Trade and Logistics Education

Source: Government of India

IIFT Signs MoU with APEC – Antwerp/Flanders Port Training Center, Belgium to Strengthen Trade and Logistics Education

MoU to build cooperation,provide training and insights into global trade practices: Minister Shri Jitin Prasada

Posted On: 03 MAR 2025 9:44PM by PIB Delhi

The Indian Institute of Foreign Trade (IIFT) has signed a Memorandum of Understanding (MoU) with APEC – Antwerp/Flanders Port Training Center, Belgium, marking a significant step towards enhancing academic collaboration and knowledge exchange in the fields of international trade, logistics, and supply chain management.

The MoU aims to strengthen trade education and training ties between India and Belgium by facilitating faculty and student exchanges for cross-cultural business learning. It includes joint research on port management, global logistics, and trade facilitation, along with specialized training programs, workshops, and industry interactions. Additionally, the collaboration will enhance knowledge transfer in critical areas such as e-governance, digital trade, and emerging business technologies.

Addressing the gathering, Minister of State for Commerce & Industry, Shri Jitin Prasada underscored the importance of international partnerships in strengthening India’s trade ecosystem. “India and Belgium have shared strong trade ties for decades. This MoU will further build on our cooperation, ensuring that our future business leaders are equipped with world-class training and insights into global trade practices.”

The dignitaries from Belgium lauded the initiative, acknowledging the role of such collaborations in strengthening global trade networks. His Excellency Matthias Diependaele remarked that the people of India are making the right choices by choosing democracy, the rule of law, and partnership. He also highlighted Antwerp’s strategic location, noting that it serves as a vital gateway to Europe, facilitating trade and economic connectivity on a global scale. They expressed optimism about the positive impact this partnership will have on trade education and policy development.

Commerce Secretary Shri Sunil Barthwal expressed his happiness over the signing of the MoU and reaffirmed India’s commitment to becoming globally competitive in international trade logistics through IIFT’s new initiative in collaborative research and training with APEC.

Following the MoU signing, a roundtable discussion was held between the Minister-President of Belgium and IIFT alumni who had previously visited Flanders, sharing their experiences and key takeaways from the program.

The MoU was signed in the presence of esteemed dignitaries, including Shri Jitin Prasada, Minister of State for Commerce & Industry; Additional Secretary, Ministry of Commerce & Industry – Ajay Bhadoo; the Belgian delegation – His Excellency Matthias Diependaele, Minister-President of the Flemish Government and Flemish Minister of Economy, Innovation, and Industry, Foreign Affairs, Digitalisation, and Facility Management; Mr. Jacques Vandermeiren, CEO of Port of Antwerp-Bruges; Mr. Dirk De Fauw, President of Port of Antwerp-Bruges International and Mr. Kristof Waterschoot, Managing Director of Port of Antwerp-Bruges International.

From IIFT, the event was graced by Prof. Rakesh Mohan Joshi, Vice Chancellor, IIFT, along with senior faculty members and distinguished alumni who have previously benefited from exposure to the Port of Antwerp.

Speaking at the event, Prof. Rakesh Mohan Joshi, Vice Chancellor, IIFT, emphasized the importance of this partnership in providing IIFT students with practical exposure to global trade and logistics operations. “This collaboration will not only enhance our students’ understanding of port operations and global supply chain mechanisms but also create opportunities for joint research, training programs, and faculty exchanges,” he said. He reiterated IIFT’s commitment to offering world-class education with practical insights into international trade and logistics.

Mr. Kristof Waterschoot, Managing Director of Port of Antwerp-Bruges International, highlighted the longstanding relationship between Port of Antwerp and IIFT, stating, “This MoU will further solidify our efforts in capacity building and knowledge-sharing in trade facilitation.”

This collaboration builds on the longstanding relationship between IIFT and the Port of Antwerp, which began in 2019 with 206 students from the institute visiting the port for firsthand learning. As an integral part of IIFT’s curriculum, port visits have enriched students’ understanding of supply chain efficiencies, customs regulations, and global trade operations.

The event concluded with a commitment from both institutions to implement the objectives outlined in the MoU and work towards building a robust framework for academic and industry collaborations in international trade.

About IIFT: Established in 1963 as an autonomous body under the Ministry of Commerce, the Indian Institute of Foreign Trade (IIFT) has gained Deemed University status and is one of the premier business institutions in India, focusing on Foreign Trade. It is highly regarded as an academic center of excellence in international business research, training, and education.

About APEC – Antwerp/Flanders Port Training Center: APEC is a leading training institute affiliated with the Port of Antwerp-Bruges, providing specialized programs in port management, trade facilitation, and logistics, contributing to global capacity building in the maritime and trade sectors.

***

Abhishek Dayal/Abhijith Narayanan

(Release ID: 2107942) Visitor Counter : 29

MIL OSI Asia Pacific News –

March 4, 2025
MIL-OSI Asia-Pac: WAVES Bazaar: The Ultimate Business Collaboration Hub for Media & Entertainment
Source: Government of India (2)

Posted On: 03 MAR 2025 4:56PM by PIB Mumbai

Mumbai : 3 March 2025

The media and entertainment industry is witnessing an unprecedented digital transformation, and at the heart of this evolution is the WAVES Bazaar—a revolutionary online marketplace designed to connect professionals, businesses, and creators across the global entertainment ecosystem. With its mission to foster seamless collaboration, WAVES Bazaar serves as the ultimate business hub for the Media & Entertainment industry, enabling professionals to expand their reach, discover new opportunities and engage in high-value partnerships.

Launch of WAVES Bazaar

WAVES Bazaar was officially launched on January 27, 2025, at the National Media Centre, New Delhi, by Shri Ashwini Vaishnaw, Union Minister of Information & Broadcasting, Railways and Electronics & Information Technology, and Shri Gajendra Singh Shekhawat, Union Minister of Culture & Tourism. The launch event was graced by the presence of Shri Sanjay Jaju, Secretary, Ministry of Information and Broadcasting; Shri Arunish Chawla, Secretary, Ministry of Culture; renowned Indian filmmaker Shri Shekhar Kapur; and Shri Gaurav Dwivedi, CEO, Prasar Bharati.

What is WAVES Bazaar?

WAVES Bazaar is a one-of-a-kind e-marketplace that brings together stakeholders from across the Media & Entertainment spectrum—including film, television, animation, gaming, advertising, XR, music, sound design, radio, and more. The platform acts as a bridge between buyers and sellers, ensuring that industry professionals can easily showcase their expertise, connect with potential clients, and secure meaningful collaborations.

Whether you’re a filmmaker searching for a production partner, an advertiser seeking the right platform, a game developer looking for investors, or an artist wanting to showcase your work to global audiences, WAVES Bazaar provides a dynamic space for industry professionals to network, collaborate and grow their businesses.

Key Features & Benefits of WAVES Bazaar
- Comprehensive Industry Integration – A unified space for film, television, music, gaming, animation, advertising, and emerging tech sectors like XR, AR, and VR.
- Global Reach & Visibility – Expand your business beyond borders and connect with international stakeholders in the entertainment industry.
- Seamless Networking & Collaboration – Meet, interact, and collaborate with like-minded professionals, service providers, buyers, and investors.
- Streamlined Buyer-Seller Transactions – A structured, easy-to-use platform that enables smooth business interactions between service providers and potential clients.
- Diverse Listing Opportunities – Sellers can showcase their offerings in categories such as film production services, VFX, advertising, sound design, music production, gaming, animation, and more.
- Access to Exclusive Industry Events & Marketplaces – Get access to industry-specific events, investor meet-ups, and exclusive marketplaces under the WAVES platform.
Verticals of WAVES Bazaar

WAVES Bazaar is structured into multiple verticals, each tailored to cater to a specific segment of the media and entertainment industry. These include:

1. WAVES Bazaar: The Global e-Marketplace for Advertising Services

A dedicated space for advertisers, marketers, and media buyers to explore and acquire advertising solutions. From print to digital to out-of-home (OOH) advertising, this vertical connects brands with the right media partners to maximize their campaign reach.

2. WAVES Bazaar: The Ultimate Marketplace for Live Events

Bringing together event organizers, vendors, and service providers in the live entertainment sector. Whether it’s music festivals, conferences, or corporate events, this vertical helps professionals find collaborators for seamless execution.

3. WAVES Bazaar: The Global Marketplace for Animation & VFX Services

A hub for animation studios, visual effects artists, and post-production houses to showcase their expertise. Filmmakers, game developers, and brands can find the right talent for their animation and VFX needs.

4. WAVES Bazaar: The Global Marketplace for XR, VR & AR Services

Designed for extended reality (XR) professionals, this segment connects innovators in virtual reality (VR), augmented reality (AR), and mixed reality (MR) with businesses looking to enhance their content through immersive experiences.

5. WAVES Bazaar: The Global Marketplace for Films

A one-stop destination for filmmakers, distributors, and investors. This vertical provides opportunities to showcase, acquire, and collaborate on film projects, bridging the gap between creators and financiers.

6. WAVES Bazaar: The Grand Marketplace for Game Makers

For gaming developers, studios, and publishers, this space facilitates connections with investors, voice artists, composers, and marketing experts to help bring interactive entertainment to the next level.

7. WAVES Bazaar: The Global Marketplace for Radio & Podcast

A dedicated space for radio stations, podcasters, and audio content creators to list their services, find sponsors, and collaborate on projects within the ever-growing digital audio landscape.

8. WAVES Bazaar: The Global Marketplace for Comics & E-Books

Authors, illustrators, and publishers can connect with distributors and content platforms to bring their stories to global audiences. This vertical ensures the creative industry thrives in both digital and physical formats.

9. WAVES Bazaar: The Global Marketplace for Web-Series

OTT platforms, independent creators, and digital studios can discover new talent, pitch projects, and collaborate on episodic content for streaming audiences worldwide.

10. WAVES Bazaar: The Global Marketplace for Music & Sound

A dedicated ecosystem for music composers, sound designers, and production houses to engage with filmmakers, advertisers, and gaming companies looking for original compositions and audio solutions.

Who Should Join WAVES Bazaar?

WAVES Bazaar is open to all professionals in the media, entertainment, and creative sectors, including but not limited to:

For Sellers:
- Film Producers & Studios – List your film projects and connect with distributors, investors, and sales agents.
- Animation & VFX Studios – Showcase your expertise to filmmakers and gaming developers.
- Gaming & XR Developers – Find investors, partners, and clients for your game projects.
- Music & Sound Professionals – Promote your composition, scoring, and sound design services.
- Advertising & Marketing Agencies – Connect with brands and businesses looking for media campaigns.
- Radio & Podcast Creators – Gain exposure and monetization opportunities.
- Writers & E-Book Publishers – Reach out to production houses, platforms, and content buyers.
For Buyers:
- Film production houses and OTT platforms looking for content acquisitions
- Media agencies and brands searching for advertising partners
- Game developers seeking animation and sound services
- Event organizers in need of promotional collaborations
- Public sector organizations looking for creative content solutions
How WAVES Bazaar Works
- Visit the WAVES Bazaar Website – Navigate to wavesbazaar.com and explore the platform.
- Sign Up & Create Your Profile – Register as a buyer, seller, or investor to access the full range of opportunities.
- List Your Services or Project Needs – Showcase your work or explore available listings tailored to your business interests.
- Connect & Collaborate – Network with industry professionals, schedule meetings, and initiate successful collaborations.
- Grow Your Business – Expand your market, find new revenue streams and establish long-term partnerships.
Why WAVES Bazaar is a Game-Changer for the Industry

In a rapidly evolving digital landscape, WAVES Bazaar is revolutionizing the way entertainment professionals connect and do business. By eliminating geographical barriers and offering a structured, category-specific marketplace, the platform ensures that industry players find the right partners faster, negotiate better deals, and maximize their business potential.

Join WAVES Bazaar today and unlock endless opportunities in the global entertainment industry!

Register now at: wavesbazaar.com

Follow us on social media for updates and industry insights.

About WAVES 2025

The first World Audio Visual & Entertainment Summit (WAVES), a milestone event for the Media & Entertainment (M&E) sector, will be hosted by the Government of India in Mumbai, Maharashtra, from May 1 to 4, 2025.

Whether you’re an industry professional, investor, creator, or innovator, the Summit offers the ultimate global platform to connect, collaborate, innovate and contribute to the M&E landscape.

WAVES is set to magnify India’s creative strength, amplifying its position as a hub for content creation, intellectual property, and technological innovation. Industries and sectors in focus include Broadcasting, Print Media, Television, Radio, Films, Animation, Visual Effects, Gaming, Comics, Sound and Music, Advertising, Digital Media, Social Media Platforms, Generative AI, Augmented Reality (AR), Virtual Reality (VR) and Extended Reality (XR).

Have questions? Find answers here

Come, Sail with us! Register for WAVES now (Coming soon!)

WAVES 2025/ Sayyid Rabeehashmi/ Nikita Joshi/ Preeti Malandkar

Follow us on social media: @PIBMumbai /PIBMumbai /pibmumbai pibmumbai[at]gmail[dot]com /PIBMumbai /pibmumbai

(Release ID: 2107781) Visitor Counter : 34

MIL OSI Asia Pacific News –
March 4, 2025
MIL-OSI USA: $245.3 Million Recovered for New Yorkers in 2024
Source: US State of New York

n honor of National Consumer Protection Week, Governor Kathy Hochul today announced that the New York State Department of Financial Services, Department of Public Service and the New York Department of State’s Division of Consumer Protection secured more than $245 million in recoveries and restitution for New Yorkers in 2024. This builds on efforts by the Department of Public Service and the New York Department of State’s Division of Consumer Protection, which assisted 71,000 New York households with a variety of consumer protection matters, returning $17.3 million to consumers in 2024, up more than 78 percent from $9.7 million in 2023. These efforts reflect the Governor’s ongoing commitment to consumer protection and affordability, including strengthening oversight of financial products, cracking down on predatory fees and ensuring transparency in emerging lending models. Governor Hochul also proposed a suite of consumer protection items in her State of the State and FY26 Executive Budget that seek to protect consumers shopping online, crack down on exploitative practices and regulate emerging industries.

“The federal government may be taking aim at consumer protection regulations, but New York State is doubling down — recovering more than $245 million in 2024,” Governor Hochul said. “I’m fighting to put more money in New Yorkers’ pockets, and that means taking a hard line against fraud, deception and predatory pricing practices that make it harder for families to get by.”

New York State Department of Financial Services (DFS)

DFS’s Consumer Assistance Unit (CAU) plays a critical role in protecting New Yorkers, addressing more than 46,000 complaints in 2024 alone. The CAU works directly with consumers to resolve disputes, investigate claim denials and hold financial institutions accountable. New Yorkers who need assistance with disputes involving banks, insurance companies or other financial service providers can visit dfs.ny.gov/complaint or call (800) 342-3736.

As financial services rapidly change, Governor Hochul is ensuring consumer protections keep pace with innovation. This includes addressing emerging risks in Buy Now, Pay Later (BNPL) programs and unfair overdraft fees, both of which are key priorities of her FY26 Executive Budget.

BNPL services have surged in popularity, with U.S. consumers spending $18.2 billion through these programs during the 2024 holiday season. While they offer flexibility, they often lack clear repayment terms and consumer protections found in traditional credit products. To close these gaps, Governor Hochul’s FY26 Executive Budget advances measures to bring BNPL providers under proper oversight by DFS, ensuring transparency and fair lending practices.

At the same time, DFS recently proposed new regulations to curb unfair overdraft fees. These regulations, which align with the Governor’s broader consumer protection agenda, would ensure that consumers aren’t charged for minor transactions and receive timely notifications to improve transparency and fairness in banking.

New York State Department of Financial Services Superintendent Adrienne A. Harris said, “At DFS, protecting consumers is at the core of what we do. Recovering record amounts for New Yorkers each year reflects our commitment to ensuring fairness, transparency, and accountability in financial services.”

New York State Department of Public Service (DPS)

DPS fielded more than 42,000 consumer complaint calls, handled approximately 20,000 consumer inquiries and complaints, and returned nearly $13 million in utility consumer refunds, an increase of 75 percent from 2023.

In 2024, the Public Service Commission levied $23.5 million in financial penalties against five utilities for failing to meet 2023 customer service standards. The Commission also secured $115 million cumulatively from utility shareholders in enforcement proceedings against utilities that violated the Public Service Law, or regulations.

In this year’s State of the State, the Governor has proposed closing a loophole that does not obligate Energy Service Companies to return unclaimed funds to New Yorkers. Once enacted, this proposal will ensure New Yorkers are able to receive every penny owed to them.

The DPS Office of Consumer Services monitors the number and types of complaints received against all utilities operating in New York State to ensure that utilities fulfill their obligation to provide effective customer service in compliance with the laws, rules, regulations and policies. Each month, the Office makes public a detailed overview of complaint activity and utility responsiveness that is informative to both consumers and utility companies (visit dps.ny.gov and search for matter no. 19-00950).

New York State Public Service Commission Chair Rory M. Christian said, “The PSC and Department of Public Service are committed to protecting New Yorkers by ensuring all industries we regulate are in full compliance with consumer protection laws and regulations. Inaccurate utility billing can lead to significant customer overcharges, which the Department works to get refunded back to affected customers.”

New York State Department of State (DOS)

The New York State Division of Consumer Protection provides education, advocacy and mediation services to help consumers make informed decisions and protect themselves from fraud and unfair business practices.

DOS assisted nearly 29,000 New York households with a variety of marketplace disputes, returning more than $2.3 million to consumers. In addition, DOS’s Do Not Call investigation and enforcement work resulted in settlements with seven telemarketing companies and the collection of nearly $1.2 million in fines in 2024, and it advanced cost effective and quality electric, gas, telephone and cable service by representing consumers at 23 utility rate and policy proceedings before State and federal regulators.

The top five categories of consumer complaints received by DOS in 2024:
1. Refunds/Store Policy: Complaints related to refunds and store policies, including return policies, restocking fees and refunds for damaged goods.
2. Orders/Deliveries: Complaints related to the order and delivery of goods purchased, including missing items, incorrect items received, late or delayed delivery or items never shipped.
3. Merchandise/Product: Complaints related to merchandise or products that did not meet consumers’ expectations.
4. Credit Cards: Complaints related to erroneous charges, billing, card benefits and illegal surcharges.
5. Travel: Complaints related to travel and tour reservations, travel agents, accommodations and lodging, and transportation including airlines, cruises and rental cars.
As part of this year’s State of the State, Governor Hochul proposed legislation to require retail sellers to offer a minimum 30-day return window for various products unless otherwise specified. Additionally, Governor Hochul proposed first-in-the-nation legislation that requires businesses to notify online shoppers when prices are set based on their personal data. To further protect consumers, Governor Hochul proposed additional legislation to ensure cancellation processes are simple, transparent and fair, ensuring that it is just as easy to cancel a subscription as it was to sign up.

The DOS Division of Consumer Protection’s mission is to assist, protect, educate and represent consumers in an ever-changing economy. The Division of Consumer Protection works hard to assist individuals aggrieved in the marketplace through its complaint mediation efforts, along with educating the public on marketplace scams, and advocating consumers’ interest before legislative and regulatory bodies.

New York State Secretary of State Walter T. Mosley said, “The Department of State’s Division of Consumer Protection is proud to have helped return over $2.3 million to New Yorkers and will continue to protect consumers from deceptive and dangerous business practices in goods and services. We’re working every day to educate the public about the latest scams, how to shop smart to protect their money and stay informed of their rights in order to create a more economically affordable and equitable New York.”

Through these initiatives, Governor Hochul reaffirms her commitment to empowering and protecting New Yorkers, ensuring a fair, transparent and secure financial marketplace for all.

For free consumer assistance, visit dos.ny.gov/consumer-protection or call the Consumer Assistance Helpline at (800) 697-1220.

State Senator Rachel May said, “Our Department of Financial Services has recovered millions of dollars for consumers, demonstrating our commitment to protecting New Yorkers from scams. I want to thank Governor Hochul for her dedication to preventing exploitation in the marketplace. As chair of the Consumer Protection Committee, I share this commitment and will work to promote a fair economy where consumers get what they pay for and where bad actors are held accountable.”

Assemblymember Nily Rozic said, “Returning over $245 million to consumers and health care providers is a critical step in protecting New Yorkers from financial harm. Unfair fees and predatory practices create real barriers to financial stability, making it harder for people to get ahead or even stay afloat. By ensuring fairness and transparency, these efforts will help ease that burden and build a stronger, more equitable financial system.”

MIL OSI USA News –
March 4, 2025
MIL-Evening Report: Misinformation on refugees and migrants is rife during elections. We found 6 ways it spreads – and how to stop it
Source: The Conversation (Au and NZ) – By Daniel Ghezelbash, Professor and Director, Kaldor Centre for International Refugee Law, UNSW Law & Justice, UNSW Sydney

Gorodenkoff/Shutterstock

Misinformation is a significant threat to our society. It undermines public discussion, erodes social cohesion, leads to bad policy and weakens democracy.

Misinformation on refugee and migrant issues is particularly pervasive – especially in the lead up to elections, as bad-faith actors try to promote fear, distrust and simplistic solutions.

And sometimes, misinformation is specifically targeted at migrant communities themselves, sowing division in an effort to influence elections.

So, what’s the best way to counter misinformation about refugees and migrants? And given the risk that publicly addressing lies and rumours can sometimes end up spreading them, when is misinformation best ignored?

A new report by the Kaldor Centre for International Refugee Law and the Behavioural Insights Team (a behavioural science research company) uses science to answer these questions.

Behavioural science explains why and how misinformation works. Understanding some of that science can empower all of us to stop its spread.

Misinformation increases during elections

The recent US presidential race provides a stark example of how misinformation on refugees and migrants soars during elections.

During one presidential debate, Donald Trump falsely claimed migrants in Ohio were “eating the pets”. Though entirely untrue, this baseless claim spread rapidly across social media.

Australia is not immune to such deception. While refugees and migrants make significant positive economic, social and cultural contributions to their host societies, politicians across the spectrum have falsely blamed them for issues ranging from rising house prices to crime.

This is not new. Back in the 2001 election campaign, government ministers made false claims that people seeking asylum had thrown their children overboard from a boat. These are widely regarded as having contributed to turning around the fortunes of the Howard government, which was then trailing in the polls.

Instead of addressing challenges with real solutions, these strategies scapegoat refugees and migrants, and ignore their immense positive contributions.

Misinformation leads to a more divided and polarised society. So, how does it spread?

6 ways misinformation spreads

Online platforms create the perfect breeding ground for misinformation to spread.

The rise of AI-generated misinformation – such as highly convincing deepfake images and videos – only exacerbates the problem.

Combating misinformation begins with understanding the psychological factors that drive its spread and influence.

Our new report identifies six key behavioural science principles that explain how misinformation takes hold:

1. Hot states: Heightened emotions, such as fear, outrage or anxiety, make people more reactive and less critical of misleading claims.

2. The messenger effect: People judge a message’s truth based on who shares it, often trusting friends and family over experts.

3. The mere-exposure effect: Seeing misinformation multiple times makes it seem more true, making people more likely to share it.

4. Confirmation bias: People are more likely to believe false information that aligns with their values and reject facts that challenge them.

5. Cognitive load: When overwhelmed by information, people are less likely to question what they see, making them more vulnerable to falsehoods.

6. Continued influence effect: Misinformation has a lasting effect on our attitudes and decisions, even after it has been corrected.

Building on these principles and an extensive review of research literature, we developed an evidence-based framework for countering misinformation about refugees and migrants.

It provides a step-by-step guide on what to do when faced with falsehoods, starting with recognising whether the misinformation is anticipated or already circulating.

Think before you like or share.
fizkes/Shutterstock

When misinformation is anticipated

When you expect a particular false claim, but it’s not yet out there, then prebunk. Alert people to manipulation tactics before they become widespread.

This helps people recognise and resist misinformation before it takes hold.

When misinformation is already circulating

If false claims are already out there, first ask three questions before acting:
1. is the claim prominent (visible and gaining traction)?
2. is it persuasive (able to change people’s minds)?
3. is it proximate (relevant to your audience and cause)?
If the answer to any of these questions is no, then reframe the agenda. Instead of amplifying falsehoods, shift your resources to sharing stories that reinforce accurate information and resonate with your audience’s values.

If misinformation is indeed prominent, persuasive and proximate, debunk it.

Use the fact, myth, fallacy, fact – or “fact sandwich” – method. Make the correction clear, credible and effective by stating the truth, then presenting the myth, explaining its flaws, and reinforcing the correct fact.

Here’s an example that leads with a fact, warns about the myth, explains the fallacy and then ends with a fact:

When Australia’s borders were closed during COVID, migration was at its lowest in a century — yet house prices still went up. The idea that cutting migration will magically solve the housing crisis doesn’t hold up against the evidence.

But some political actors are blaming migrants, as if they’re the main reason housing has become unaffordable.

In fact, this oversimplifies the problem. The housing crisis has been a long time in the making, and it’s now this severe because of past policy choices piling up.

There are many drivers of Australia’s housing crisis, including a lack of housing, rising construction costs, and tax breaks that distort the market. Migration is only a small piece of the puzzle.

How to engage audiences

The report also details seven strategies that drive reach and impact. These include publicly communicating in a way that’s:
- consistent
- repeated
- coordinated with other groups with similar goals
- appeals to your audience’s values and emotions, and
- uses humour.
One part of a broader approach

These strategies can be used by anyone seeking to push back against misinformation in our public debate, not just about refugees and migrants.

However, communication approaches are only one lever.

To turn the tide on misinformation, society needs systemic solutions. These include media literacy education and regulatory reform of online platforms.

As we approach Australia’s next federal election, addressing misinformation about refugees and migrants is more crucial than ever to protect refugees and migrants from harm, strengthen our democratic processes, and foster a more inclusive society.

Daniel Ghezelbash receives funding from the Australian Research Council, the NSW government and the Robert Bosch Foundation. He is a board member of Refugee Advice and Casework Services, Wallumatta Legal, and the Access to Justice and Technology Network. He is also a Special Counsel at the National Justice Project.

Saul Wodak is affiliated with the Behavioural Insights Team.

– ref. Misinformation on refugees and migrants is rife during elections. We found 6 ways it spreads – and how to stop it – https://theconversation.com/misinformation-on-refugees-and-migrants-is-rife-during-elections-we-found-6-ways-it-spreads-and-how-to-stop-it-251035
MIL OSI Analysis – EveningReport.nz –
March 4, 2025
MIL-Evening Report: Digital Luddites are rising. They want to democratise tech, not destroy it

Source: The Conversation (Au and NZ) – By Raffaele F Ciriello, Senior Lecturer in Business Information Systems, University of Sydney

Have you ever been called a Luddite? We have – usually as an insult, rooted in a popular misconception that Luddites are anti-progress fanatics.

Nothing could be further from the truth. The original 19th century Luddites weren’t against technology. Rather, they resisted its oppressive use.

Their rebellion was violently suppressed. But their core critique lives on: technology should benefit all of humanity, not a privileged few.

Today, as Silicon Valley billionaires and United States president Donald Trump turbocharge corporate control of public digital infrastructure, this critique rings truer than ever.

In response, we are a seeing a growing surge of attempts to wrest back control of technology for democratic ends. This is a kind of “digital Luddism” which echoes past struggles against high-tech injustice.

The original Luddites

The Luddites were 19th century English textile workers who destroyed machinery threatening their craft and livelihoods. Historians call their tactics “collective bargaining by riot”. They were fighting against technologies that centralised power and stripped workers of dignity.

Luddite resistance was part of broader struggles for labour rights and socioeconomic justice.

For example, in 18th century France, silk weavers similarly revolted against mechanisation that devalued their craft.

Earlier, England’s Diggers and Levellers resisted the privatisation of communal lands. This foreshadowed today’s battles over corporate control of digital infrastructure.

The Luddites faced severe punishment, including imprisonment and even execution. Despite this, their legacy endures. Today, dismissing critics of Big Tech as “Luddites” repeats the mistake of conflating resistance to exploitation with fear of progress.

The Luddite resistance in the 19th century was part of broader struggles for labour rights and socioeconomic justice.
Working Class Movement Library catalogue

In the most extreme scenario, unchecked corporate power allied with monstrous government polices can lead to atrocities. In Nazi Germany, for example, Dehomag, a former subsidiary of computer giant IBM, provided data systems to the Nazis to track victims. Chemical company IG Farben also supplied Zyklon B gas for extermination camps. Many other companies profited from forced labour and funded the regime. This shows how complicity can make oppression more efficient.

Today, digital technologies are deepening inequality, eroding democracy, undermining privacy, and concentrating power.

Digital technologies are also fuelling surveillance capitalism, the displacement of human workers by AI algorithms and the growth of monopolistic platforms.

Platforms and AI systems governed by “broligarchs” such as Elon Musk and Mark Zuckerberg are also shaping politics, culture, and beliefs globally.

Digital Luddism, also known as neo-Luddism, tackles these issues through three strategies: resistance, removal and replacement.

Resistance: blocking harmful systems

Technology is not inevitable — it’s a choice. Sustained collective action can counter corporate dominance and align tech with democratic values.

In 2018, more than 3,000 Google workers protested the company’s military AI contract, forcing it to adopt ethical guidelines. However, in February this year, Google expanded defence deals, showing how resistance must be sustained.

Three years later, Facebook whistleblower Frances Haugen exposed the harmful algorithms at the heart of the social media platform.

Then, in 2024, Amazon and Google staff also staged walkouts over a US$1.2 billion AI contract linked to Israeli military operations.

Creative industries are also fighting back. For example, in 2023 screenwriters and actors in Hollywood protested against AI replacing their roles. Similarly, Australia’s “right to disconnect” law reflects Luddite principles of reclaiming autonomy.

Non-profit organisations such as the Algorithmic Justice League and the Electronic Frontier Foundation empower digital rights advocates to take back control over digital spaces by exposing AI bias and through legal litigation.

Digital Luddism doesn’t reject innovation. It demands technology serve stakeholders, not shareholders.

Removal: dismantling entrenched power

Some systems are beyond reform, requiring direct intervention. Removal involves political action and legal regulation. It also involves public pressure to break monopolies or impose penalties on unethical corporations.

For example, the TraffickingHub petition has garnered more than two million signatories to hold adult website PornHub accountable for unethical or unlawful content. This has led financial institutions, such as Visa and Mastercard, to cut ties to the website. For more than 20 years, hacker collective Anonymous has carried out cyber-attacks on authoritarian regimes, extremists and corporations.

Digital Luddites can also lend a hand to the long arm of the law.

The European Union’s 2023 Digital Markets Act broke Apple’s app store monopoly. This sparked a surge in small EU developers.

Big Tech has also repeatedly faced huge fines and antitrust lawsuits. However, breaking up or nationalising these corporations remains rhetoric for now.

Replacement: building ethical alternatives

Proprietary corporate systems have long been challenged by free, open-source alternatives.

But digital Luddism isn’t just about using different tools. It’s about systemic change towards sustainable, transparent and user-controlled infrastructure.

After Elon Musk’s Twitter takeover, decentralised alternatives that let users control content flourished. For example, Bluesky grew from 1 million to more than 27 million users in one year.

The Australian government is also responding to a broader public demand for platform independence. For example, it has introduced policies aimed at enhancing people’s data rights. Its Digital Transformation Agency is also advocating for improved open data standards.

Open-source AI projects such as China’s DeepSeek and HuggingFace’s Deep Research now rival corporate models, proving open tech is a force to reckon with.

The original Luddites smashed machines. But the global nature of today’s digital infrastructure makes physical sabotage impractical. That’s why digital Luddism isn’t about smashing screens. Instead, it’s about smashing oppressive systems.

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

– ref. Digital Luddites are rising. They want to democratise tech, not destroy it – https://theconversation.com/digital-luddites-are-rising-they-want-to-democratise-tech-not-destroy-it-251155

MIL OSI Analysis – EveningReport.nz –

March 4, 2025
MIL-OSI Africa: The Ecobank Group expands its gender-financing offer to facilitate access to financing for Africa’s women entrepreneurs
Source: Africa Press Organisation – English (2) – Report:

LOMÉ, Togo, March 3, 2025/APO Group/ —
- Ellevate by Ecobank expands to become bigger, better and more inclusive.
- From supporting corporate businesswomen, small and medium-sized entrepreneurs to individual entrepreneurs, and those in the informal sector.
To bridge the gender financing gap for Africa’s women entrepreneurs, Ecobank (www.Ecobank.com), the leading pan-African financial services group, announces significant enhancements to its multi-award-winning gender-financing solution – ‘Ellevate by Ecobank’. These improvements strengthen Ecobank’s commitment to women-owned, women-led, and women-focused businesses, while reinforcing its market competitiveness.

The World Bank estimates that closing the gender gap in Africa could add $2.5 trillion to the continent’s GDP by 2025, underscoring the urgency of investing in women – not just for social justice, but for a more prosperous and equitable future for all Africans. In response, Ecobank’s enhanced Ellevate programme is now more ambitious and inclusive, designed to address the diverse challenges faced by women entrepreneurs. The programme is being extended from new and existing Commercial Banking customers to include new and existing Consumer Banking and Corporate Banking customers, as well as female business leaders, with Corporate Banking customers serving as a pool of mentors. With this expansion, individual entrepreneurs – including those in the formal and informal sectors – can now fully benefit from its enhanced financial and non-financial solutions.

Jeremy Awori, Chief Executive Officer, Ecobank Group, said: “We recognise and applaud the role that women entrepreneurs play in driving socio-economic impact across Africa and are committed to supporting them at every stage of their entrepreneurial journey. Since the launch of the Ellevate programme we have made significant progress, disbursing over US$200 million in loans, providing business networking opportunities, and offering leadership and capacity-building training for businesswomen.”

“Today, Ellevate 2.0 heralds in a new era for gender financing. It is bigger, better and more inclusive, delivering exceptional value to female entrepreneurs and women business leaders. Enhancing our products and solutions for women entrepreneurs to position Ecobank as their bank of choice is an integral component in accelerating the success of our Growth, Transformation and Returns strategy’s objectives. It also supports our Group-wide objective of promoting gender equality and contributing to sustainable development.”

The enhanced Ellevate’s value propositions now include:
- Increasing access to finance with unsecured loans of up to US$50,000
- Competitive interest rates and favourable collateral requirements
- Accommodating customers with a two-year track record instead of the industry-standard three years
- Helping them to find new customers and access new markets across Africa through our innovative online matchmaking MyTradeHub platform
- Training, knowledge sharing webinars, support and other initiatives to enhance customers’ business and leadership skills
- Customised wealth management services
- A one-stop shop to meet insurance needs.
- A loyalty programme providing exclusive offers and discounts at select retail stores and recreation centres
To coincide with the celebrations of the International Women’s Day, our enhanced Ellevate program will be launched by nine of our affiliates (Burkina Faso, Cameroon, Côte d’Ivoire, Ghana, Guinea, Kenya, Senegal, Togo and Zimbabwe) by the end of March 2025. It will then be rolled-out in phases across all our other sub-Saharan African affiliates throughout the year.

MIL OSI Africa –
March 4, 2025
MIL-OSI USA: In Recognition of National Consumer Protection Week, Attorney General Bonta Releases California’s Top 10 Consumer Complaints

Source: US State of California

OAKLAND — In recognition of National Consumer Protection Week, California Attorney General Rob Bonta today released 2024’s Top 10 Consumer Complaints and highlighted ongoing efforts to protect California consumers. The list released today includes the top consumer complaint categories the California Department of Justice (DOJ) has received in the last calendar year. Attorney General Bonta urges Californians to report misconduct or violations of state consumer protection laws to DOJ at oag.ca.gov/report. Complaints submitted by the public provide DOJ and sister agencies with important information about potential misconduct to help determine whether to investigate a business or individual.

“California is a pillar of strong state consumer protection laws and an outspoken advocate for robust federal protections,” said Attorney General Bonta. “This National Consumer Protection Week, I urge Californians to help us further this work. If you see misconduct or are the victim of a scam, my office wants to know about it: I encourage consumers to immediately file a complaint online at oag.ca.gov/report. Whether protecting our kids online, stopping egregious bank fees, or cracking down on illegal price gouging, as the People’s Attorney, I am committed to going to the mat for California consumers.”

Top 10 Consumer Complaint Categories from 2024:

1. Social Media Platforms
2. Online Retailers
3. Banks
4. Contractors
5. Landlord/Tenant Issues
6. Online Scams
7. Debt Collection
8. Credit Reporting
9. Telephonic Scams
10. Brick and Mortar Retail Sales

Fighting to Keep More Money in the Pockets of Californians:

Attorney General Bonta took on bad actors and archaic policies that hurt Californians pocketbooks. Last year, DOJ announced a $700 million multistate settlement with Johnson & Johnson for failing to disclose if asbestos was present in its talc products; secured a settlement with ticket reseller StubHub, Inc. for failing to pay timely refunds to Californians for canceled events during the COVID-19 pandemic; and sponsored successful legislation to protect Californians’ financial future by banning the inclusion of medical debt on credit reports.

Last month, Attorney General Bonta supported lawsuits challenging the Trump Administration’s efforts to dismantle the Consumer Financial Protection Bureau (CFPB). Since its creation, the CFPB has actively worked to make the lives of everyday people better and has returned over $20 billion to Americans nationwide. The shuttering of the CFPB would cause catastrophic harm to consumer protections, leaving no federal oversight over large banks, and saddling state agencies with the sole responsibility to protect consumers from conduct regulated by the CFPB.

Putting Social Media Companies on Notice:

In response to a dramatic uptick of consumer complaints, last March, Attorney General Bonta sent a letter to Meta expressing deep concern regarding the increase in account takeovers and lockouts on Facebook and Instagram and the inadequacy of the company’s response to prevent and address consumer harm from these takeovers. The letter asked Meta to take immediate action to increase mitigation tactics and respond to users whose accounts have been taken over.

Sticking up for Students:

In the last year, Attorney General Bonta continued to protect students by securing a decision that upheld a judgment against Ashford University for giving students false or misleading information about career outcomes, cost and financial aid, and transfer credits, as well as a $4.5 million settlement with University of Phoenix for aggressive and unlawful military student recruitment tactics.

Protecting Children Online:

Attorney General Bonta continued to take action to create a safer internet for children and teens. In October 2024, DOJ filed a lawsuit against TikTok for harming young users and deceiving the public about the social media platform’s dangers; and secured a decision in his lawsuit against Meta that largely denies Meta’s attempt to evade responsibility for their role in the children’s mental health crisis. DOJ proudly supported legislation that would put consumers in control of their relationship with social media, like SB 976 (Skinner), recently enacted legislation which interrupts the ability of social media companies to use addictive design features, and AB 56 (Bauer-Kahan), newly proposed legislation that would require warning labels on social media platforms.

Advancing Your Data Privacy Rights:

In January, Attorney General Bonta reminded Californians of their right to stop or “opt-out” of the sale and sharing of their personal information under the California law, and encouraged consumers to consider familiarizing themselves with the Global Privacy Control (GPC), an easy-to-use browser setting or extension that allows consumers to take back control of their personal data.

Last year, Attorney General Bonta announced a settlement with DoorDash for violating California privacy laws by selling its customers’ personal information; and worked with local partners to secure a settlement with a video game developer for illegally collecting and sharing children’s data.

Scram, Scams!

Attorney General Bonta continued educating and warning consumers about financially harmful and widespread AI-generated scams, toll booth scams, romance scams, and package delivery text-based scams; and continued the fight against annoying and illegal robocalls, which are often a vehicle for scams.

Setting the Record Straight on AI:

In January, Attorney General Bonta issued two legal advisories, reminding consumers of their rights, and advising businesses and healthcare entities who develop, sell, or use artificial intelligence (AI) about their obligations under California law. Many consumers and patients are not aware of when and how AI systems are used in their lives or by institutions that they rely on.

Businesses use AI systems to evaluate consumers’ credit risk and guide loan decisions, screen tenants for rentals, and target consumers with ads and offers, as such, must comply with California consumer protection laws.

Tackling Price Gouging During a Natural Disaster:

In the wake of Los Angeles Fires, Californians should be coming together to help our neighbors, not attempting to profit off their pain. DOJ takes its duty to protect the public from price gouging, rental bidding, and unsolicited property offers by predatory buyers extremely seriously. In addition to sending over 700 warning letters to hotels and landlords, DOJ has several active investigations into price gouging and has announced price gouging charges against three Los Angeles real estate agents and a landlord (January 22, January 28, and February 18). These investigations are often the result of review of complaints received by DOJ.

DOJ established the Disaster Relief Task Force to work closely with federal, state, and local law enforcement and regulatory partners; last month, DOJ collaborated with, Los Angeles City Attorney Hydee Feldstein Soto on misdemeanor price gouging charges against a homeowner and real estate agent who allegedly engaged in price gouging in violation of the law.

For more tips and information on consumer protection, please visit https://oag.ca.gov/consumers.

MIL OSI USA News –

March 4, 2025
MIL-OSI USA: Consumer Protection Week: Attorney General’s Office empowers Washingtonians through action, education
Source: Washington State News

OLYMPIA — Today marks the start of Consumer Protection Week in Washington. Which allows the Attorney General’s Office to highlight the successful work of our consumer protection division, and help Washingtonians protect themselves.

Consumers can do more to protect themselves against fraud, identity theft and scams through what they can learn at a series of in-person and virtual events next week supported by the Attorney General’s Office and employees from select state agencies.

“There are sophisticated ways companies and individuals try to deceive and steal from Washingtonians,” Attorney General Nick Brown said. “Our consumer protection events will give people the tools and knowledge to empowered and protect themselves.”

The Consumer Protection Division is largely funded through money recovered from businesses who have violated Washington’s Consumer Protection Act and similar laws. not by taxpayers. Specifically, a portion of Consumer Protection recoveries go into the Attorney General’s Civil Justice Operating Fund, which supports the Consumer Protection, Antitrust, Wing Luke Civil Rights, and Environmental Protection divisions. It also funds Medicaid Fraud Control and the Complex Litigation divisions.

Here are some recent key consumer protection victories:
- $1.3 billion in recoveries dedicated to combatting the opioid epidemic at the state and local level.
- Blocking the Kroger and Albertson’s anticompetitive grocery store merger.
- Up to $40.6 million will be distributed to Washingtonians who overpaid for chicken and tuna products that were part of a price-fixing conspiracy.
- A nationwide agreement requiring Dollar Tree to monitor its testing labs to ensure they follow appropriate testing methods for lead and cadmium that are audited and verified through independent experts.
- Over $43 million in direct refunds and debt forgiveness to student loan borrowers.
- More than $158 million in debt relief to patients who Washington hospitals failed to screen for charity care.
- Our Consumer Protection Division has successfully challenged consumer “non-disclosure” agreements to make sure online reviews are honest.
- Returning funds to consumers who signed illegal contracts.
- The Manufactured Housing Landlord Tenant Act, recouping millions of dollars for tenants subjected to illegal rent hikes and other misconduct.
- The Wing Luke Civil Rights Division addresses discrimination in housing, employment, insurance, credit, and in government services and businesses open to the public. Recent wins illustrating the breadth of that work include wins against Allianz ($1.5 million, insurance discrimination), Greenridge Farming ($470,000, farmworker sexual harassment and retaliation) and Operation Veterans Assistance & Humanitarian Aid (more than $2.15 million, sexual harassment and retaliation at a chain of thrift stores).
Our Consumer Resource Center, which answers between 25,000-30,000 calls annually, returns over $10M to consumers every year via its informal dispute resolution efforts. Assistant attorneys general also take calls and complaints throughout the year that result in additional consumer protection actions.

A full list of public Consumer Protection Week events is available below:

In-person only events

Come to your local library for National Consumer Protection Week 2025! The Office of the Attorney General, Secretary of State’s Office, and Department of Financial Institutions will host your questions and a table of information on how you can protect yourself and your families from scams, stay safe online, and how to file a consumer complaint. Please join us!

Monday, March 3:

National Consumer Protection Informational Event (Public)

1 PM-3 PM

Puyallup Municipal Library: 324 S Meridian, Puyallup, WA 98371

Tuesday, March 4:

National Consumer Protection Informational Event (Public)

10 AM – Noon

Edmonds Library: 650 Main St, Edmonds, WA 98020

Friday, March 7:

National Consumer Protection Informational Event (Public)

2 PM – 4 PM

Des Moines Library: 21620 11th Ave S, Des Moines, WA 98198

Virtual only

Monday, March 3:

Manufactured Housing Dispute Resolution Presentation (Zoom) (Public)

10 AM-11:30 AM

https://atg-wa.zoom.us/j/87327455542?pwd=cY5nba4bbw1N3LtPPtsjOI8aEq5cch.1

Are you an owner of a manufactured/mobile home that rents space from a park or community? Are you the owner, landlord, or manager of a manufactured/mobile home park? Come learn about the Manufactured Housing Dispute Resolution Program with Public Programs Director, Cynthia Lockridge, and Assistant Attorney General Sebastian Miller for National Consumer Protection Week 2025!

Presentación del Programa de Resolución de Disputas de Casas Móviles (Zoom) (Español) (Publico)

6 PM-7:30 PM

https://atg-wa.zoom.us/j/89656449126?pwd=Hz4Duw1HeFXt82HEXVRv5Jmaha040t.1

¿Es usted propietario de una casa móvil o manufacturada que alquila espacio en un parque o comunidad? ¿Es usted propietario, arrendador o administrador de un parque de casas móviles o manufacturadas? ¡Venga a conocer el Programa de Resolución de Disputas de Casa Móviles con la Oficina del Procurador General del Estado de Washington durante la Semana Nacional de Protección al Consumidor 2025!

Hybrid events (English)

Ready to protect yourself from fraud, identity theft, and scams? Want to stay on top of your credit, shop smart for a used car, or keep yourself and your family safe online? Then don’t miss these chances to meet with the Consumer Protection Division of the Office of the Attorney General! Join us for National Consumer Protection Week (NCPW) — and stay informed year-round at www.atg.wa.gov. NCPW is your time to connect with government agencies, consumer protection experts, and our team as we share vital tips to help you spot, report, and avoid scams. Let’s make smart choices together and stay one step ahead!

Tuesday, March 4:

Fort Vancouver Library Series: Three Creeks (Public) (Virtual)

3 PM – 4 PM

https://meet.google.com/utx-pubt-asx?hs=122&authuser=0

Wednesday, March 5:

Fort Vancouver Library Series: Vancouver (Public) (Virtual)

11 AM – Noon

https://meet.google.com/gba-ankm-pks?hs=122&authuser=0

Thursday, March 6:

Fort Vancouver Regional Library: Woodland (Virtual) (Public)

2 PM – 3 PM

https://meet.google.com/wsk-jevd-bsc?hs=122&authuser=0

Saturday, March 8:

Walla Walla Library (Zoom) (Public)

1 PM – 2 PM

https://atg-wa.zoom.us/j/86149303444?pwd=mxU5BKPx0mGlLEfcpEuBz6QwApgksu.1

Hybrid events (Español)

¿Listo para protegerse del fraude, el robo de identidad y las estafas? ¿Quiere estar al tanto de su crédito, comprar un automóvil usado de manera inteligente o mantener a usted y a su familia seguros en línea? ¡Entonces no pierda la oportunidad de reunirse con la División de Protección al Consumidor de la Procuraduría General del Estado de Washington! Únase a nosotros durante la Semana Nacional de Protección al Consumidor (NCPW, sus iniciales en inglés) y manténgase informado durante todo el año en www.atg.wa.gov. NCPW es su momento para conectarse con agencias gubernamentales, expertos en protección al consumidor y nuestro equipo mientras compartimos consejos vitales para ayudarlo a detectar, denunciar y evitar estafas. ¡Tomemos decisiones inteligentes juntos y así sobresaltamos a los estafadores!

Thursday, March 6:

Fort Vancouver Regional Library: Vancouver (Español) (Virtual) (Publico)

11 AM – Mediodía

https://meet.google.com/mjy-dgbk-drq?hs=122&authuser=0

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Washington’s Attorney General serves the people and the State of Washington. As the state’s largest law firm, the Attorney General’s Office provides legal representation to every state agency, board, and commission in Washington. Additionally, the Office serves the people directly by enforcing consumer protection, civil rights, and environmental protection laws. The Office also prosecutes elder abuse, Medicaid fraud, and handles sexually violent predator cases in 38 of Washington’s 39 counties. Visit www.atg.wa.gov to learn more.

Media Contact:

Email: press@atg.wa.gov

Phone: (360) 753-2727

General contacts: Click here

Media Resource Guide & Attorney General’s Office FAQ

MIL OSI USA News –
March 4, 2025
MIL-Evening Report: A website is not enough: businesses that use digital tools without a strategic plan will struggle in a tough economy

Source: The Conversation (Au and NZ) – By Rod McNaughton, Professor of Entrepreneurship, University of Auckland, Waipapa Taumata Rau

Mr.paripat niyantang/Shutterstock

Small businesses across Australia and New Zealand are facing one of their toughest periods in decades.

A flat economy and shifting consumer behaviour have put pressure on already thin operating margins. A 2024 survey by business finance company ScotPac found 29% of Australian small businesses say they could face insolvency if they lose a major client.

Accounting organisation CPA Australia’s latest small business survey shows only 48% of New Zealand’s small businesses grew in 2023. This is significantly down from 60% in 2022. There have also been a record number of business liquidations in both New Zealand and Australia.

Yet some small and medium-sized businesses are thriving. Part of the reason for this is because they have embraced the concept of “digital leadership”.

This is the ability to strategically integrate digital technologies – such as artificial intelligence, cloud computing, data analytics and automation – into a business’s operations, decision-making and long-term vision.

Digital leaders use emerging technologies to improve efficiency, redesign business models, scale operations and reach new customers in ways that wouldn’t be possible otherwise.

Our review of the research on digital leadership, recently published in Digital Leadership and Contemporary Entrepreneurship, found that firms treating digital leadership as a core business strategy, rather than just using technology for isolated tasks, are the ones that successfully scale, grow and future-proof their organisations.

Without this change in mindset, firms risk stagnation and missed opportunities. That difference is critical in an economic environment where small margins separate thriving businesses from struggling ones.

Why some small businesses fall behind

It’s easy to assume small businesses lag in digital adoption because of costs or technical complexity. However, most of the studies we reviewed suggest the real issue is hesitancy at the leadership level.

Some business owners are risk-averse and take a “wait and see” approach. Others believe their current solutions are sufficient even when new technology could improve efficiency.

A 2021 survey commissioned by cloud accounting software company Xero, found fear of change, overconfidence in existing processes and decision paralysis are among the biggest barriers preventing small businesses from embracing digital solutions.

Even businesses that already use digital tools – for example, to manage their social media – often fail to go further and integrate technology into core operations such as supply chain management and automation.

Embracing digital leadership

The lesson is that simply adopting digital tools without a strategic plan doesn’t lead to growth. True digital leadership requires businesses to rethink how they operate, compete and scale.

The firms making the most of digital transformation embed technology in their core strategy. They use data-driven decision-making to refine products, forecast demand and identify new opportunities.

They streamline operations by automating routine tasks, such as using AI-powered invoicing, chatbots for customer inquiries and predictive analytics for inventory management. This frees up time for strategic initiatives such as product development and market expansion.

At the same time, they invest in training employees to effectively use and adapt to new technologies. Perhaps most importantly, they take an experimental approach – testing, learning and adapting in real time.

Learning to thrive in digital economy

Businesses that have successfully grown through digital leadership illustrate this approach in action.

Set up in 2016, New Zealand-based investing company Sharesies fundamentally changed how everyday people access financial markets.

Traditional investment firms required large deposits and complex paperwork, excluding many potential investors. Sharesies took a different approach. The company designed a mobile-first platform where users could start with as little as $5. The company now has more than 650,000 users and NZ$3 billion in investments.

In Australia, The Very Good Bra, a sustainable bra company, used digital leadership to create a global, sustainable fashion brand without traditional retail infrastructure.

Founder Stephanie Devine developed a direct-to-consumer model through e-commerce, bypassing wholesalers and physical stores. She utilised digital tools such as social media platforms for community engagement, online surveys to collaborate with customers to design products, and data analytics software for demand forecasting, ensuring every product had a market before it was manufactured.

Both companies succeeded by leveraging digital technologies to disrupt traditional business models. Sharesies democratised investing by making it accessible to individuals with minimal capital, while The Very Good Bra utilised e-commerce and customer collaboration to create sustainable fashion products.

Their digital-first approaches enabled them to identify and fill market gaps effectively.

To thrive in the tougher economic climate, businesses need to think beyond software tools. The question is no longer whether to go digital, but how fast a business can rethink their work for the digital future.

Guy Bate is affiliated with The Education Technology Association of New Zealand (EdTechNZ). He serves as Chair of their AI in Education Technology Stewardship Group.

Rod McNaughton 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. A website is not enough: businesses that use digital tools without a strategic plan will struggle in a tough economy – https://theconversation.com/a-website-is-not-enough-businesses-that-use-digital-tools-without-a-strategic-plan-will-struggle-in-a-tough-economy-250633

MIL OSI Analysis – EveningReport.nz –

March 4, 2025
MIL-OSI Global: How businesses and consumers can protect themselves against digital supply chain disruptions

Source: The Conversation – Canada – By Raymond A. Patterson, Professor, Area Chair, Business Technology Management, Haskayne School of Business, University of Calgary

Digital supply chain disruptions are particularly problematic because they can have immediate global effects and can’t rely on inventory as a buffer. (Shutterstock)

Digital supply chain disruptions are becoming increasingly common, with a recent notable increase in cyberattacks and supplier errors.

A significant incident in July 2024 saw a flawed security upgrade by CrowdStrike impact 8.5 million Windows computers. The fallout impacted various industries, including airlines, hospitals and 911 services. This led to the cancellation of 2,800 flights and delays for 11,000 more.

Threats surrounding the looming trade war between Canada and the United States are also threatening the digital supply chain. The digital supply chain encompasses many goods and services, including video streaming platforms, software, digital content, video games, e-books, online storage, education and training content, and food delivery services.

According to a McKinsey report from October 2024, companies seem to be easing up on efforts to strengthen supply chain resilience, even as disruptions continue to occur. The survey found “considerable gaps in the ability of organizations to identify and mitigate supply chain risks, with few new initiatives aimed at addressing those weaknesses.”

Digital supply chain disruptions are particularly problematic because they can have immediate global effects. Unlike physical supply chains, digital suppliers can’t rely on inventory as a buffer. As is clear from major industry disruptions to the digital supply chain, organizations often lack feasible alternatives for their digital suppliers — there is no plan B.

However, the resilience of digital supply chains is given little attention, despite its critical role in the global economy.

Risks of sharing digital suppliers

Our recent research explored how businesses’ choice of digital supplier — either the same as their competitors or different ones — impacts competition and vulnerability to supply chain disruptions.

Using an economic model, we analyzed how disruptions at a service provider impacted a firm’s customer demand and, in turn, how the firm managed service provider risks.

We found that when companies rely on the same digital suppliers, they also share risks. In contrast, choosing alternative suppliers can help mitigate those risks. However, businesses often mimic their competitors and share suppliers — a strategy that is not always wise.

Disruptions to digital supply chains are inevitable, and the effects of these disruptions, particularly on consumer demand, are often underestimated. These disruptions can spread rapidly, without giving companies enough time to react. Cyberattacks or service losses at a single supplier can take multiple businesses offline at once.

Issues like privacy breaches and service disruptions can even cause customers to change their buying habits. While a disruption at one firm may lead consumers to switch to competitors, broader industry disruptions can diminish overall trust and demand.

Companies with complementary products should consider using different digital suppliers to mitigate the compounded negative effects of any disruption.

Additionally, advanced technologies like AI are transforming industries such as customer support and health care, meaning digital supply chain disruptions are also more likely. Automation can also exacerbate this risk.

Addressing supply chain risks

Canadians have many concerns about online privacy and security, and business leaders face challenges addressing these concerns moving forward.

Addressing these concerns is difficult due to several factors, including rapidly changing technology, expanding opportunities for attacks, high costs to address privacy and security, and lack of employee awareness, among others.

Our research leads to a number of suggestions for companies, industry coalitions, governmental regulators and consumers. For businesses, building resilience against digital supply chain disruptions and supplier outages requires strategic partnerships. Companies must consider how inevitable disruptions will affect not only their customer demand, but also how competitors’ disruptions could affect them, and vice versa.

For industry coalitions and governmental regulators, understanding the ripple effects of shared digital supply chain risks can help determine whether supply chains should be shared or separated. Industry-specific needs may differ and change over time, which could justify breaking up digital service monopolies to increase supplier diversity or, in some cases, maintaining them.

Consumers should also be aware of the potential for a digital supply chain disruptions. If an industry-wide outage occurs, having a workaround plan can be essential. For example, when purchasing services that can’t be physically stored, like airline tickets, it’s wise to plan for unexpected disruptions. Booking a flight a day earlier than necessary or allowing extra time to return home can provide a buffer against system-wide failures.

Breaches of online privacy and service disruptions caused by unforeseen events, bad actors and foreign governments can cause customers to alter their buying habits and negatively impact Canadian competitiveness.

With Canadians expressing grave concerns over online privacy and security, everyone must recognize the importance of preparing for and mitigating these risks.

Raymond A. Patterson currently receives funding from the Haskayne School of Business and the National Cybersecurity Consortium (NCC). Previous funding has been obtained from a variety of private and public sources.

Erik Rolland, Hooman Hidaji, and Lisa Yeo do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. How businesses and consumers can protect themselves against digital supply chain disruptions – https://theconversation.com/how-businesses-and-consumers-can-protect-themselves-against-digital-supply-chain-disruptions-250009

MIL OSI – Global Reports –

March 4, 2025
MIL-OSI Global: Trump tariffs have sparked a ‘Buy Canadian’ surge, but keeping the trend alive faces hurdles

Source: The Conversation – Canada – By Melise Panetta, Lecturer of Marketing in the Lazaridis School of Business and Economics, Wilfrid Laurier University

Escalating trade tensions between Canada and the United States have ignited a new wave of Canadian patriotism, with consumers consciously choosing made-in-Canada products as an act of economic self-preservation and national pride.

U.S. President Donald Trump is expected to impose tariffs on most Canadian and Mexican goods on March 4, after a month-long delay. This, along with Trump’s calls to make Canada the 51st U.S. state, has prompted Canadians to rally around the so-called “Buy Canadian” movement.

Recent research indicates a significant number of Canadians are now showing a strong preference for domestic products, with many willing to modify their purchasing behaviours. One recent poll revealed 42 per cent of Canadians polled will “absolutely do everything” to avoid purchasing U.S. products. Eighty-eight per cent said they would buy a product promoted as “made in Canada.”

Another poll found that 56 per cent of Canadians said they would stop buying a certain product altogether if there is no Canadian-made alternative.

While the “buy local” movement has deeper roots, often resurfacing during periods of economic tensions, the current surge stems from a desire to support homegrown brands and manufacturers they see as reflecting their values.

Buy Canadian movement challenges

While the Buy Canadian movement is gaining traction, actually sustaining it comes with notable challenges. Some experts caution that reducing reliance on U.S. imports is a gradual process contingent on consistent consumer commitment.

Two primary barriers stand in the way of this sustained change: the higher costs of Canadian-made goods, particularly during the ongoing cost-of-living crisis, and the difficulty consumers face in identifying domestically produced items.

Addressing these two issues is crucial for the long-term viability of the Buy Canadian movement.

CBC News segment about the Buy Canadian movement.

Buying Canadian can be pricey

The first primary obstacle facing the Buy Canadian movement is the price disparity between domestic goods and their imported counterparts.

Canadian domestic goods often come with a higher price tag due to production costs, economies of scale, transportation and other economic factors. These factors make it difficult for local manufacturers to compete with cheaper foreign alternatives.

The ongoing cost-of-living crisis, which is driving up prices for goods and services across various sectors, is further intensifying the challenge. One of the biggest household expenses, the cost of groceries, remain particularly high, having jumped by 7.8 per cent in 2023 — its highest level in nearly 40 years.

Higher prices across almost all sectors has resulted in 71 per cent of Canadians naming the cost of living as a top domestic concern, making it the leading news story in the country in 2024.

While many consumers express a desire to support local businesses even if they are pricier, the reality of higher costs could make it difficult for consumers to consistently choose domestic products over more affordable foreign alternatives.

Is it really ‘Made in Canada’?

The second major obstacle for the Buy Canadian movement lies in confusion over product labels. For many Canadians, identifying which products are truly Canadian versus imported alternatives can be a challenging task.

A recent poll found that 42 per cent of Canadians believe grocery food products are made in Canada, while the actual number of products fully made in Canada is closer to 10 per cent.

Compounding matters further, understanding country of origin labelling can also be challenging. Labels such as “Made in Canada” and “Product of Canada” have specific definitions.

“Made in Canada” means the last substantial transformation of the good or service occurs in Canada but may contain up to 49 per cent imported ingredients, while “Product of Canada” means all, or nearly all, significant parts and processing are Canadian.

This nuanced labelling and similarity in wording can lead to confusion, making it difficult for consumers to make informed choices.

Building on the Buy Canadian momentum

Canadian businesses and retailers have been responding to growing consumer demand for domestic products with concrete marketing strategies. For instance, Loblaw Companies, Canada’s largest food retailer, has committed to “doubling down on securing food grown and made” locally.

Grocery stores are also making it easier for consumers to identify local products. Several grocery chains have revamped their in-store displays by using shelf tags, stickers and end-of-aisle signage to clearly identify Canadian-made food items.

Retailers and brands are increasingly spotlighting domestic brands by rolling out targeted pricing deals. Major grocery chains have begun offering significant price reductions and exclusive promotions on items branded as “Made in Canada.”

Additionally, Canadians are flocking to websites such as Madeinca.ca, which aim to demystify country of origin and labelling so shoppers can distinguish domestic products from imports.

Although maintaining this momentum may be challenging, consumers are eager to showcase their patriotism at the check-out. With businesses and policymakers actively improving product transparency and addressing cost concerns, the Buy Canadian movement is poised to gain further traction. After all, nothing embodies unity quite like a little patriotic shopping, the Canadian way.

Melise Panetta 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. Trump tariffs have sparked a ‘Buy Canadian’ surge, but keeping the trend alive faces hurdles – https://theconversation.com/trump-tariffs-have-sparked-a-buy-canadian-surge-but-keeping-the-trend-alive-faces-hurdles-250245

MIL OSI – Global Reports –

March 4, 2025
MIL-OSI USA: 03.03.2025 Sen. Cruz at Press Conference for Inaugural SAT-DCA Direct Flight: ‘Texas Prevailed’

US Senate News:

Source: United States Senator for Texas Ted Cruz

WASHINGTON, D.C. – U.S. Senator Ted Cruz (R-Texas), Chairman of the Senate Committee on Commerce, Science, and Transportation, delivered remarks during a press conference at San Antonio International Airport (SAT), celebrating the first direct flight from San Antonio to Washington, D.C.’s Ronald Reagan Washington National Airport. This flight was made possible due to a provision Sen. Cruz secured in his FAA Reauthorization Act of 2024.

Excerpts of Sen. Cruz’s remarks are included below:
“Last year, we passed the FAA Reauthorization Act. At the time, I was the Ranking Member on the Senate Committee on Commerce, Science, and Transportation. The Ranking Member was the senior Republican, not yet in the majority. And that FAA bill, I wrote alongside Maria Cantwell, the chairman of the Committee, a Democrat from Washington state. As we wrote that landmark legislation, it was $110 billion in new resources invested in aviation safety — directing the FAA to hire the maximum number of air traffic controllers to keep passengers safe as you and your family board flights to travel across America and across the world — investing in technology on runways to prevent the multiple near misses that we’ve seen on runways to enhance the ability to avert those disasters — expanding competition and investing in new technology in airports here in San Antonio and all across Texas.
“Now, that bill was a bipartisan bill that had enormous support. And do you know what the single greatest battle on that bill was? The new flight for San Antonio to DCA. On that new flight, you had millions of dollars of lobbying trying to prevent that flight from happening. It was as bare-knuckle a fight as I’ve seen in Washington. You had the senators from Virginia and Maryland both lobbying vigorously against it. The battle ended up delaying the entire bill on the floor of the Senate for two days. Now, we ended up having, thankfully, the entire congressional delegation united.
“In the House, you had Chip Roy, who did a phenomenal job. You had Joaquin Castro, Greg Casar, Tony Gonzales, and Henry Cuellar all working together — Republicans and Democrats, hand in hand. In San Antonio, you had the city, the elected leadership, the business community — all standing as one — united. In the Senate, John Cornyn and I worked hand in hand, whipping the votes. I have, if you come to my office, and Mayor, I’ll show you the whip sheet for the slots, which I have framed, back-to-back, with every one of the Senators because it was literally hand-to-hand combat to get the votes. At the end of the day, Texas prevailed.”

MIL OSI USA News –

March 4, 2025
MIL-OSI: Intetics Continues to Lead in Global Outsourcing: Featured in IAOP’s 2025 Global Outsourcing 100®

Source: GlobeNewswire (MIL-OSI)

NAPLES, Fla., March 03, 2025 (GLOBE NEWSWIRE) — Intetics, a leading global technology company, has once again secured a spot in the prestigious 2025 Global Outsourcing 100® list by the International Association of Outsourcing Professionals (IAOP®). This marks the 19th consecutive year of recognition, reaffirming Intetics’ reputation as a top-tier IT outsourcing provider.

Since its launch in 2006, the Global Outsourcing 100® has served as a benchmark for excellence, innovation, and industry leadership, spotlighting the world’s top IT outsourcing service providers and advisors. The 2025 edition honors organizations that have demonstrated exceptional performance, adaptability, and leadership in an ever-evolving market.

“In an era defined by extraordinary technological advancements and digital transformation, the 2025 Global Outsourcing 100® highlights the outstanding achievements of service providers and advisors who continue to lead and innovate, – says Debi Hamill, CEO of IAOP. – This year’s honorees have not only risen to the challenges of a rapidly evolving landscape but have set new benchmarks for excellence in the industry. We warmly congratulate Intetics on earning a well-deserved place among the world’s elite.”

The Global Outsourcing 100® is curated through a rigorous evaluation process, conducted by an independent panel of outsourcing experts. IAOP assesses companies based on key criteria such as innovation, customer satisfaction, and overall business impact.

Intetics’ selection in the Rising Star Judging Size category highlights its ability to anticipate industry trends, implement groundbreaking technologies, and maintain high customer satisfaction.

“This year, Intetics celebrates 30 years of innovation. From the beginning, our mission has been to exceed client expectations by delivering exceptional engineering services and digital experiences. Being recognized by IAOP® for the 19th consecutive year is a tremendous honor. This achievement wouldn’t be possible without our visionary team and the trust of our clients. As a reliable partner, we remain committed to building strong relationships and driving industry innovation forward”, – says Boris Kontsevoi, CEO & President of Intetics.

With nearly two decades of recognition in IAOP’s Global Outsourcing 100®, Intetics remains a trusted partner for businesses worldwide, delivering world-class software solutions and pioneering digital transformation.

Looking for a reliable IT partner to drive innovation in your business? Let’s discuss how Intetics can help you scale and transform your operations with cutting-edge solutions.

Read More: Celebrating 30 Years of Innovation: Intetics’ Journey in Software Development

About IAOP®

IAOP® is THE sourcing community, with collaboration at its core, that drives exceptional business and societal outcomes. Our members and affiliates worldwide are digging deep at IAOP® conferences, learning at IAOP® chapter meetings, getting trained and certified at IAOP® courses and workshops, and connecting through IAOP® social media, all with one goal: better business results. Whether you are a customer, provider or advisor, new to collaborative business models like outsourcing, or an experienced professional, IAOP® connects you and your organization to our growing global community and the resources you need to get the results your company deserves and demands. For more information and how you can become involved, visit www.IAOP.org.

About Intetics

Intetics Inc. is a leading American technology company providing custom software application development, distributed professional teams creation, software product quality assessment, and “all-things-digital” solutions built with SMAC, RPA, AI/ML, IoT, blockchain, and GIS/UAV/LBS technologies.

Based on proprietary pioneering business models of Offshore Dedicated Team® and Remote In-Sourcing®, an advanced Technical Debt Reduction Platform (TETRA™) and measurable SLAs for software engineering, Intetics helps innovative organizations capitalize on global talent with our in-depth engineering expertise based on our Predictive Software Engineering framework.

At Intetics, our outcomes do not just meet clients’ expectations, they have been exceeding them for a quarter of a century. Intetics is ISO 9001 (quality) and ISO 27001 (security) certified and a Microsoft Gold, Amazon, and UiPath Silver partner. The company’s innovation and growth achievements are reflected in winning prestigious titles and awards, including Inc5000, Software 500, CRN 100, American Business, Deloitte Fast 50, European IT Excellence, Best European BPO, Stevie People’s Choice, Clutch and ACQ5 Awards, IAOP Global Outsourcing 100 and Fortune Innovative 300 lists. You can find more information at https://intetics.com

The MIL Network –

March 4, 2025
MIL-OSI Economics: Huawei: Helping Carriers Reshape Business, Infrastructure, and O&M with AI Mar 04, 2025

Source: Huawei

Headline: Huawei: Helping Carriers Reshape Business, Infrastructure, and O&M with AI
Mar 04, 2025

[Barcelona, Spain, March 3, 2025] During MWC Barcelona 2025, Huawei is gathering carriers, industry partners, and opinion leaders from around the world to explore the intersection of 5G networks and AI, and how they can support one another to unlock new growth opportunities.
The company is showcasing a sweeping range of solutions:
AI-to-X – Shorthand for AI-to-Consumers, AI-to-Businesses, and AI-to-Homes, including a series of solutions that can help carriers expand into AI services for new, more targeted domains and achieve business growth
AI-Centric Network solution – Helping carriers build networks that can meet the challenging demands of new AI applications to ensure a smooth and superior experience
AI-powered O&M – Using AI to revitalize network O&M, and helping carriers achieve L4 autonomous networks (AN) for fully intelligent O&M
These discussions come at a time when high-quality, open-source AI models are developing fast, powering a new, more diverse wave of innovation in AI applications.
Huawei’s booth at MWC Barcelona 2025

Huawei’s theme this year is “Accelerating the Intelligent World”, and their star-studded booth in Hall 1 is designed to represent countless bits of intelligence lighting up the night’s sky. The company is showcasing its innovation in digital infrastructure and service applications for individuals, homes, and enterprises, as well as success stories created together with its customers and partners.
Evolving 5G networks to seize new opportunities
By the end of 2024, there were more than 2.1 billion 5G users around the world, and the numbers continue to grow. Huawei has been working with carriers to drive the development of 5G through both business and network innovation, helping them transition from mobile Internet to mobile AI.
In 2024, a number of pioneering carriers have already kicked off commercial 5G-Advanced (5G-A), launching 5G-A packages for users in more than 200 cities around the world. For consumers, these packages take advantage of 5G-A’s enhanced capabilities to provide an optimized user experience for scenarios like livestreaming and gaming, as well as metro and business travel. For carriers, these packages are an opportunity to go beyond traditional connectivity and start monetizing a more personalized experience for different users. Carrier progress in these domains has propelled the industry into an era of AI-powered 5G-A connectivity.
Huawei is actively working with carriers in China, Europe, the Middle East, and Asia Pacific to explore innovative experience monetization models, define application scenarios, design new offerings, and build their user base. This shift of focus from connectivity to experience has both improved user experience and increased carrier revenue.
AI-Centric Network
Huawei launched its AI-Centric Network solution that helps carriers upgrade their ICT network infrastructure to meet new demands on bandwidth, latency, coverage, and O&M brought about by a flood of new AI applications. It’s designed to help quickly reshape telecom service and business models to seize new opportunities in the age of AI.
With the rapid development of technologies like 5G-A, cloud, and AI, carriers will need to upgrade from connectivity service providers to digital service providers. To guide this process, Huawei is launching a three-layer technology architecture for carriers looking to transform from telcos to techcos, helping them tap into new business domains and open the door to new growth opportunities.
Accelerating Industrial Intelligence
At this year’s MWC, Huawei’s Enterprise Business is demonstrating how different industries can incorporate AI into their unique business scenarios using the company’s industrial intelligence reference architecture.During the event, Huawei unveiled 83 different industry showcases with customers, and launched ten 10 major solutions to accelerate intelligent transformation together with its partners.
Pushing the boundaries of consumer devices and experience
Huawei’s consumer business will showcase a lineup of high-end, fashion-forward, and technology-driven flagship products at the event. Through multiple scenario-based experience zones, the company will share its latest innovations in foldable phones, fitness and health, photography, and creativity, focusing on how technology can further enrich people’s everyday lives.
Huawei believes in a human-centric approach to developing technology that shapes the future. In 2025, the company will continue to develop consumer products that push the boundaries of technology, provide an ultimate smart experience for all user scenarios, and build a high-end brand that consumers both love and trust.
MWC Barcelona 2025 will be held from March 3 to March 6 in Barcelona, Spain. During the event, Huawei will showcase its latest products and solutions at stand 1H50 in Fira Gran Via Hall 1.
In 2025, commercial 5G-Advanced deployment will accelerate, and AI will help carriers reshape business, infrastructure, and O&M. Huawei is actively working with carriers and partners around the world to accelerate the transition towards an intelligent world.
For more information, please visit: https://carrier.huawei.com/en/events/mwc2025

MIL OSI Economics –

March 4, 2025
MIL-OSI Economics: Huawei: Helping Carriers Reshape Business, Infrastructure, and O&M with AI

Source: Huawei

Headline: Huawei: Helping Carriers Reshape Business, Infrastructure, and O&M with AI

[Barcelona, Spain, March 3, 2025] During MWC Barcelona 2025, Huawei is gathering carriers, industry partners, and opinion leaders from around the world to explore the intersection of 5G networks and AI, and how they can support one another to unlock new growth opportunities.
The company is showcasing a sweeping range of solutions:
AI-to-X – Shorthand for AI-to-Consumers, AI-to-Businesses, and AI-to-Homes, including a series of solutions that can help carriers expand into AI services for new, more targeted domains and achieve business growth
AI-Centric Network solution – Helping carriers build networks that can meet the challenging demands of new AI applications to ensure a smooth and superior experience
AI-powered O&M – Using AI to revitalize network O&M, and helping carriers achieve L4 autonomous networks (AN) for fully intelligent O&M
These discussions come at a time when high-quality, open-source AI models are developing fast, powering a new, more diverse wave of innovation in AI applications.
Huawei’s booth at MWC Barcelona 2025

Huawei’s theme this year is “Accelerating the Intelligent World”, and their star-studded booth in Hall 1 is designed to represent countless bits of intelligence lighting up the night’s sky. The company is showcasing its innovation in digital infrastructure and service applications for individuals, homes, and enterprises, as well as success stories created together with its customers and partners.
Evolving 5G networks to seize new opportunities
By the end of 2024, there were more than 2.1 billion 5G users around the world, and the numbers continue to grow. Huawei has been working with carriers to drive the development of 5G through both business and network innovation, helping them transition from mobile Internet to mobile AI.
In 2024, a number of pioneering carriers have already kicked off commercial 5G-Advanced (5G-A), launching 5G-A packages for users in more than 200 cities around the world. For consumers, these packages take advantage of 5G-A’s enhanced capabilities to provide an optimized user experience for scenarios like livestreaming and gaming, as well as metro and business travel. For carriers, these packages are an opportunity to go beyond traditional connectivity and start monetizing a more personalized experience for different users. Carrier progress in these domains has propelled the industry into an era of AI-powered 5G-A connectivity.
Huawei is actively working with carriers in China, Europe, the Middle East, and Asia Pacific to explore innovative experience monetization models, define application scenarios, design new offerings, and build their user base. This shift of focus from connectivity to experience has both improved user experience and increased carrier revenue.
AI-Centric Network
Huawei launched its AI-Centric Network solution that helps carriers upgrade their ICT network infrastructure to meet new demands on bandwidth, latency, coverage, and O&M brought about by a flood of new AI applications. It’s designed to help quickly reshape telecom service and business models to seize new opportunities in the age of AI.
With the rapid development of technologies like 5G-A, cloud, and AI, carriers will need to upgrade from connectivity service providers to digital service providers. To guide this process, Huawei is launching a three-layer technology architecture for carriers looking to transform from telcos to techcos, helping them tap into new business domains and open the door to new growth opportunities.
Accelerating Industrial Intelligence
At this year’s MWC, Huawei’s Enterprise Business is demonstrating how different industries can incorporate AI into their unique business scenarios using the company’s industrial intelligence reference architecture.During the event, Huawei unveiled 83 different industry showcases with customers, and launched ten 10 major solutions to accelerate intelligent transformation together with its partners.
Pushing the boundaries of consumer devices and experience
Huawei’s consumer business will showcase a lineup of high-end, fashion-forward, and technology-driven flagship products at the event. Through multiple scenario-based experience zones, the company will share its latest innovations in foldable phones, fitness and health, photography, and creativity, focusing on how technology can further enrich people’s everyday lives.
Huawei believes in a human-centric approach to developing technology that shapes the future. In 2025, the company will continue to develop consumer products that push the boundaries of technology, provide an ultimate smart experience for all user scenarios, and build a high-end brand that consumers both love and trust.
MWC Barcelona 2025 will be held from March 3 to March 6 in Barcelona, Spain. During the event, Huawei will showcase its latest products and solutions at stand 1H50 in Fira Gran Via Hall 1.
In 2025, commercial 5G-Advanced deployment will accelerate, and AI will help carriers reshape business, infrastructure, and O&M. Huawei is actively working with carriers and partners around the world to accelerate the transition towards an intelligent world.
For more information, please visit: https://carrier.huawei.com/en/events/mwc2025

MIL OSI Economics –

March 4, 2025
MIL-OSI: UPDATE – BCMI More Than Doubles Cloud-based Dispatch Footprint

Source: GlobeNewswire (MIL-OSI)

REDMOND, Wash., March 03, 2025 (GLOBE NEWSWIRE) — In 2024, BCMI Corp. celebrated 10 years in business, and another significant milestone. The technology leader and provider of cloud-based mobile software for concrete and bulk materials producers more than doubled its cloud-based ready-mix dispatch footprint across the U.S.

Industry-leading companies have adopted BCMI’s cloud-based system, beginning with Smith Ready Mix in Valparaiso, Indiana, followed by many others including Miles Sand & Gravel, Geneva Rock and Sunroc (both Clyde Companies subsidiaries), BARD Materials and GCC. These producers and others have added BCMI’s dispatch as part of the end-to-end software platform that includes extensive operational and customer KPIs, quoting and sales tools, and customer invoicing.

In 2025, BCMI expects its dispatch footprint to expand at an accelerated rate. Implementations are scheduled for large vertical materials producers, imi and Titan America as well as regional ready mix leaders including Consumers Concrete and Zignego.

“One of the great advantages of BCMI Dispatch is that any change or update from our dispatchers and drivers is instantly shared across our company—and with our customers—through the BCMI mobile apps,” BARD Materials Vice President of Operations Chad Thier says. “BCMI truly partners with producers to shape a concrete dispatch system that leverages the best technology available, ensuring it meets the needs of the industry.”

The BCMI Dispatch system has the advantage of being cloud-native, meaning it is developed using the most current technology rather than retrofitting older dispatch systems with hardware that must be maintained by producers. BCMI integrates with related systems, such as truck GPS and accounting programs, through API (Application Programming Interface) connections entirely in the cloud. This allows materials producers to choose their own best-in-class solution set to meet their business needs.

“After an extensive, six-month evaluation, we concluded that BCMI’s combination of current product offerings, plus the opportunity to take part in the continued development of the product, was the best fit for what imi needs to service our customers and our internal teams,” imi President and CEO Pete Lyons says.

BCMI’s leadership draws on more than 100 years of collective experience in serving the concrete and bulk materials market, making the team uniquely qualified to understand and address the needs of the industry. “We have all experienced the pain of struggling with outdated technology, and it makes us even more passionate about creating better tools for producers and contractors,” BCMI Vice President of Customer Success Janeen O’Dell says. “Things like mobile apps and eTicketing are old news in other industries, and there’s no reason our industry shouldn’t use them to make our day-to-day jobs easier.”

According to BCMI Co-founder and CEO Craig Yeack, “Our product team is laser focused on innovation, including aggressive research and development of AI tools for materials producers. In the next few years, we’ll see accelerated growth in technology, faster than we’ve seen in decades. We look forward to being the industry’s trusted partner as we navigate these changes together.”

About BCMI

BCMI Corp.’s mobile software empowers bulk construction material producers to improve business processes. BCMI’s performance analytics, interactive communication tools and AI-assisted dispatch keep materials producers and contractors aligned with real-time business solutions. For more on our cloud-based BCMI Dispatch, Material Pro and Material Now apps, visit www.bcmicorp.com.

Media Contact

Jennifer Jensen, BCMI Media and PR Specialist: Jennifer.jensen@bcmicorp.com

The MIL Network –

March 4, 2025
MIL-OSI: Rekubit: Advanced Data Encryption Reinventing Security on Rekubit Exchange

Source: GlobeNewswire (MIL-OSI)

Kansas City, MO, March 03, 2025 (GLOBE NEWSWIRE) — Rekubit has unveiled its latest breakthrough in digital security—an advanced data encryption system designed to protect sensitive information and optimize digital communications. This new encryption technology enhances data protection across multiple sectors, ensuring that businesses and individuals can securely transmit and store information without the risk of unauthorized access.

Strengthening Digital Protection with Cutting-Edge Encryption

With the growing volume of digital transactions and online communications, security concerns have become more pressing than ever. Rekubit’s newly developed encryption technology provides a sophisticated layer of protection that safeguards sensitive information from cyber threats. The system is designed to withstand potential security breaches while maintaining fast and efficient data transmission. Unlike traditional encryption methods, Rekubit’s technology integrates adaptive security protocols that continuously evolve to counter new and emerging threats. By using dynamic key management and advanced cryptographic algorithms, this system significantly reduces the risk of data interception or manipulation. Businesses and individuals can now operate with greater confidence, knowing that their information is protected by state-of-the-art encryption.

Optimized Performance Without Compromising Security

One of the key challenges of advanced encryption systems is balancing security with speed and efficiency. Rekubit has addressed this issue by developing a system that ensures high-speed data processing without compromising security standards. This innovation is particularly beneficial for industries requiring real-time data protection, such as healthcare, finance, and telecommunications.Additionally, the encryption system is designed to integrate seamlessly with existing digital platforms, making implementation simple and cost-effective. Users can enhance their security infrastructure without the need for extensive modifications to their current operations.

Expanding Security Solutions for Businesses and Individuals

Rekubit’s encryption technology is not limited to large enterprises—it is also designed to support individual users who require enhanced security for personal communications and transactions. Whether securing confidential business data or protecting personal messages, the system offers a comprehensive solution for users at all levels. Beyond data transmission, Rekubit’s technology also enhances storage security. The encryption system ensures that stored information remains protected, reducing the risk of data leaks or unauthorized access. With data breaches becoming increasingly common, this innovation provides an essential tool for organizations and individuals looking to safeguard their digital assets.

Looking Ahead: Rekubit’s Commitment to Digital Security

As technology continues to evolve, Rekubit remains committed to advancing digital security solutions that address modern challenges. This latest encryption innovation is part of a broader initiative to enhance cybersecurity standards and provide users with the most effective protection available.

Moving forward, Rekubit plans to expand its security offerings with additional features, including AI-driven threat detection and advanced access control systems. By continuously improving its security infrastructure, Rekubit is setting a new benchmark for digital safety and resilience in an increasingly connected world.

For more information about Rekubit’s latest advancements in encryption technology, visit Rekubit

The MIL Network –

March 4, 2025

MIL-OSI: Quadient Enables New Shipping Service with Japan Post on its Open Locker Network, Driving Convenience and Increased Parcel Volume

Source: GlobeNewswire (MIL-OSI)

Quadient (Euronext Paris: QDT), a global automation platform powering secure and sustainable business connections, announced today an expanded partnership between Japan Post and Packcity Japan, a joint venture between Quadient and Yamato Transport. Thanks to the extended partnership, consumers will not only receive Japan Post deliveries at Packcity Japan’s nationwide open network of automated parcel lockers, but they will also now be able to ship parcels from the lockers, called PUDO stations. Consumers using Japan Post’s Yu-Pack parcel service use a mobile app to ship from a PUDO station, eliminating the need to wait at delivery counters or manually handling shipping slips.

Japan Post, one of Japan’s leading carriers, operates more than 24,200 post offices across the nation and employs more than 171,800 employees, providing postal, logistics and courier delivery services. The expanded partnership between Japan Post and Packcity Japan increases the parcel volume through the open locker network and will consolidate package pickup, leading to more efficient, ecological and sustainable business operations.

“In recent years, the burden on our partner carriers has become more serious due to the rapid increase in the number of designated deliveries and pickups after normal business hours and on weekends and holidays,” said Akitsugu Yanagida, CEO of Packcity Japan. “The expanded partnership with Japan Post confirms the importance of an open locker network to an efficient and sustainable last mile and first mile logistical operation. We look forward to continuing to expand our services with the aim of improving convenience for consumers and the efficiency of the logistics industry.”

Through Packcity Japan, Quadient operates about 7,000 automated lockers in Japan. Quadient is a global leader in open locker networks, offering carrier-agnostic locker technology for seamless delivery and pickup experiences. With more than 25,000 locker units deployed worldwide, Quadient continuously invests in locker innovation and services to improve usage and footprint in major e-commerce markets.

About Quadient®
Quadient is a global automation platform powering secure and sustainable business connections through digital and physical channels. Quadient supports businesses of all sizes in their digital transformation and growth journey, unlocking operational efficiency and creating meaningful customer experiences. Listed in compartment B of Euronext Paris (QDT) and part of the CAC® Mid & Small and EnterNext® Tech 40 indices, Quadient shares are eligible for PEA-PME investing. For more information about Quadient, visit www.quadient.com.

Contacts

Sandy Armstrong, Sterling Kilgore	Joe Scolaro, Quadient
Director of Media & Communications	Global Press Relations Manager
+1-630-699-8979	+1 203-301-3673
sarmstrong@sterlingkilgore.com	j.scolaro@quadient.com

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The MIL Network –

March 4, 2025

MIL-OSI Africa: Finance in Common Summit urges global development finance institutions to harness collective power to address global poverty

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

CAPE TOWN, South Africa, March 3, 2025/APO Group/ —

The fifth edition of the Finance in Common Summit (FiCS) concluded on Friday in Cape Town, South Africa, with strong calls for global development finance institutions to work together to address poverty and development challenges. South African Finance Minister Enoch Godongwana led the call.

The summit, which was co-sponsored by the African Development Bank and took place alongside the G20 Finance Ministers’ Meeting, was themed “Fostering Infrastructure and Finance for Fair and Sustainable Growth.”

Godongwana described the meeting as an unprecedented gathering of key financial players, saying: “Your determination and commitment will change the world. Your determination and will have an impact on global poverty.”

The minister linked the summit’s goals to South Africa’s development trajectory, highlighting the structural reforms the country had undertaken in the electricity, roads, and port sectors, which have opened new investment opportunities to development partners.

African Development Bank Vice President for Finance and Chief Financial Officer, Hassatou Diop N’Sele—one of several senior officials of the Bank Group at FiCS—represented Bank Group President, Dr. Akinwumi Adesina at a meeting on Wednesday organized by the Council of Europe Development Bank. At the meeting, multilateral development banks reaffirmed a shared commitment to maximize their collective impact.

During the G20 meetings of Finance Ministers and central bank governors, Hassatou Diop N’Sele said, “We call on G20 nations to enhance financial commitments, especially for the 17^th replenishment of the African Development Fund, to simplify processes for accessing climate finance, and to create enabling policies that facilitate sustainable capital flows to Africa.”

In her various interventions during FiCS, she discussed the innovative financing tools and initiatives launched by the African Development Bank to leverage resources and mobilize the private sector at scale, including the landmark hybrid capital transactions successfully replicated by other development finance institutions and the Africa Investment Forum.

N’Sele emphasized the urgency for philanthropies and foundations to further strengthen their partnerships with multilateral development banks and to fully embrace innovation to amplify their impact. She also recognized the challenges for expanding climate finance in Africa and reflected on such solutions and platforms as the Alliance for Green Infrastructure in Africa, designed to catalyze bankable, greener infrastructure projects at scale and speed.

The African Development Bank delegation highlighted the progress of Mission 300 (https://apo-opa.co/4bolqQE), an initiative to accelerate access to electricity for 300 million Africans by 2030. The Bank, working with the World Bank and other development finance institutions and private sector partners, has committed $18.2 billion to this effort.

Senior leaders of the Bank stressed the need for urgent action. Nnenna Nwabufo, Bank Group Vice President for Regional Development, Integration and Business Delivery, said: “Africa is not looking for aid, we are looking for partnerships.”.

She added: “The time for pilot projects that deliver incremental progress is over. We need investments that enable our nations to take ownership of their development, fostering resilience, self-sufficiency, and sustainable growth that benefits both Africa and the global economy.”

Solomon Quaynor, the African Development Bank’s Vice President for Private Sector, Infrastructure and Industrialization, called for faster implementation of infrastructure projects. “Africa can no longer sustain infrastructure projects that take seven to 10 years to complete – we must accelerate development to deliver within three years, prioritizing green infrastructure,” he said.

The African continent needs $2.7 trillion through 2030 to meet its climate action goals, but receives only 3.6% of all global climate finance, despite its minimal contribution to global emissions.

The African Development Bank’s Director General for Southern Africa, Leila Mokaddem, emphasized that Africa’s green transition must be inclusive. She said: “With 600 million Africans still without electricity, our transition cannot be about climate goals alone. It must be about jobs, industrialization and economic opportunity. The African Development Bank is supporting this vision through its Jobs for Youth in Africa strategy to create 25 million jobs and equip 50 million young Africans with green economy skills by the end of this year.”

The summit achieved several significant breakthroughs in expanding the scope and impact of development financing. Key outcomes included: the endorsement by G20 finance ministers of public development banks’ crucial role in international financial architecture; steps toward setting up frameworks to support cultural industries as valid asset classes; and the formation of a coalition between public development banks and civil society to ensure that development finance serves communities.

CEO of Agence Française de Développement and Chair of the Finance in Common Summit Rémy Rioux noted: “We have made tremendous progress in building public development banks as an asset class through innovation, commitment, and shared values. In times of uncertainty and conflict, we are offering a calm, collective alternative.”

“This has truly been an African FiCS,” said Boitumelo Mosako, CEO of the Development Bank of Southern Africa. He added: “With 34% of delegates coming from the continent, we have shown that Africa is unstoppable as the second fastest growing region in the world.”

Following the Finance in Common Summit, the Fourth Finance for Development Conference will take place in Spain between June and July this year. Being organized by the United Nations and the Spanish government, that summit will feature continuing discussions on reshaping the international financial architecture to better serve development needs.

MIL OSI Africa –

March 4, 2025

Category: Commerce

Source: NIWA

IIFT Signs MoU with APEC – Antwerp/Flanders Port Training Center, Belgium to Strengthen Trade and Logistics EducationMoU to build cooperation,provide training and insights into global trade practices: Minister Shri Jitin Prasada

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IIFT Signs MoU with APEC – Antwerp/Flanders Port Training Center, Belgium to Strengthen Trade and Logistics Education

MoU to build cooperation,provide training and insights into global trade practices: Minister Shri Jitin Prasada