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Category: Economy

  • MIL-OSI: Annual general meeting of Ringkjøbing Landbobank A/S

    Source: GlobeNewswire (MIL-OSI)

    Nasdaq Copenhagen
    London Stock Exchange
    Euronext Dublin
    Other stakeholders

    Date        5 February 2025

    Annual general meeting of Ringkjøbing Landbobank A/S

    The bank will hold its annual general meeting at 5:00 p.m. on Wednesday, 5 March 2025 at the ROFI Centre, Kirkevej 26, Rindum, 6950 Ringkøbing, Denmark.

    Agenda as per the bank’s articles of association:

    1. Election of chairperson

    The board of directors proposes that Allan Østergaard Sørensen, attorney-at-law, chair the general meeting.

    2. The board’s report on the bank’s activities in the previous year

    The board of directors proposes that the board’s report on the bank’s activities in the previous year be adopted.

    3. Presentation of the annual report for approval

    The board of directors proposes that the annual report for 2024 be approved.

    Further reference is made to the published annual report for 2024.

    4. Decision on allocation of profit or covering of loss under the approved annual report

    The board of directors proposes that the distribution of profit be approved.

    Further reference is made to the published annual report for 2024.

    5. Consultative vote on the remuneration report

    The board of directors proposes that the remuneration report for 2024 be approved.

    Further reference is made to the published remuneration report for 2024.

    6. Approval of the remuneration of the board of directors for the current financial year

    The shareholders’ committee and the board of directors propose that the remuneration of the board of directors for the current financial year be approved.

    Further reference is made to the full proposals.

    7. Remuneration policy

    The board of directors proposes that the updated remuneration policy be approved.

    Further reference is made to the full proposals.

    8. Election of members to the shareholders’ committee

    In accordance with the decision made by the bank’s annual general meeting held on 28 February 2024, the following members of the shareholders’ committee, whose terms of office end in 2025 and 2026, are resigning: Mette Bundgaard, Per Lykkegaard Christensen, Ole Kirkegård Erlandsen, Thomas Sindberg Hansen, Tonny Hansen, Kim Jacobsen, Morten Jensen, Kasper Lykke Kjeldsen, Lotte Littau Kjærgaard, Niels Erik Burgdorf Madsen, Martin Krogh Pedersen, Poul Kjær Poulsgaard, Kristian Skannerup, Allan Østergaard Sørensen, Jørgen Kolle Sørensen, Sten Uggerhøj, Lasse Svoldgaard Vesterby and Christina Ørskov.

    In addition, Lars Møller and Yvonne Skagen must retire from the shareholders’ committee due to the age requirement in the articles of association.

    The shareholders’ committee and the board of directors propose re-election of the following members, whose terms of office end in 2025 and 2026:

    • Mette Bundgaard, police superintendent, No, born 1966
    • Per Lykkegaard Christensen, farmer, Hjallerup, born 1959
    • Ole Kirkegård Erlandsen, butcher, Snejbjerg, born 1962
    • Thomas Sindberg Hansen, grocer, Kloster, born 1978
    • Tonny Hansen, former college principal, Ringkøbing, born 1958
    • Kim Jacobsen, manager, Aalborg, born 1969
    • Morten Jensen, attorney-at-law (Supreme Court), Dronninglund, born 1961
    • Kasper Lykke Kjeldsen, timber merchant, Højbjerg, born 1981
    • Lotte Littau Kjærgaard, manager, Holstebro, born 1969
    • Niels Erik Burgdorf Madsen, manager, Ølgod, born 1959
    • Martin Krogh Pedersen, CEO, Ringkøbing, born 1967
    • Poul Kjær Poulsgaard, farmer, Madum, born 1974
    • Kristian Skannerup, manufacturer, Tim, born 1959
    • Allan Østergaard Sørensen, attorney-at-law (High Court), Ringkøbing, born 1982
    • Jørgen Kolle Sørensen, sales representative and branch manager, Hvide Sande, born 1970
    • Sten Uggerhøj, car dealer, Frederikshavn, born 1959
    • Lasse Svoldgaard Vesterby, manager, Ringkøbing, born 1978
    • Christina Ørskov, manager, Gærum, born 1969

    The shareholders’ committee and the board of directors propose the following for election:

    • Rasmus Alstrup, farmer, Videbæk, born 1985
    • Rikke Ahnfeldt Kjær, CFO, Gistrup, born 1980
    • Pia Stevnhøj Sommer, sales director, Lind, born 1979

    In recruiting and proposing candidates for the shareholders’ committee (election and re-election), the committee and board of directors have focused on ensuring a diverse committee membership in terms of business experience, professional qualifications and expertise, gender, age etc.

    9. Election of one or more auditors

    In accordance with the audit committee’s recommendation, the shareholders’ committee and the board of directors propose that PricewaterhouseCoopers, Statsautoriseret Revisionspartner-selskab be re-elected as external auditor and sustainability auditor.

    Further reference is made to the full proposals.

    10. Authorisation for the board of directors to permit the bank to acquire its own shares

    The board of directors proposes that it be granted authorisation to permit the bank to acquire its own shares, in accordance with current legislation, until the next annual general meeting, to a total nominal value of ten percent (10%) of the share capital, such that the shares can be acquired at current market price plus or minus ten percent (+/-10%) at the time of acquisition. 
    Further reference is made to the full proposals.

    11. Any proposals from the board of directors, the shareholders’ committee or shareholders

    11.a. Proposed amendments to the articles of association

    The shareholders’ committee and the board of directors propose the following amendments to the articles of association:

    Art. 2a-2b:
    It is proposed that the authorisations in articles 2a and 2b be extended to 4 March 2030.
    If the proposal is approved, the wording of articles 2a and 2b of the bank’s articles of association will be changed to the following:

    Art. 2a:
    “The general meeting has decided to authorise the board of directors to increase the share capital in one or more rounds by up to nom. DKK 5,341,347 with right of pre-emption for the bank’s existing shareholders. The capital increase shall be fully paid up in cash. The capital increase may be below the market price. This authorisation shall apply until 4 March 2030.”

    Art. 2b:
    “The general meeting has decided to authorise the board of directors to increase the share capital in one or more rounds by up to nom. DKK 2,670,673 without right of pre-emption for the bank’s existing shareholders. The capital increase may be by cash payment or contribution of an existing company or specific asset values corresponding to the value of the shares issued. The capital increase shall be fully paid up at the market price ascertained by the board of directors. This authorisation shall apply until 4 March 2030.”

    The background to the proposal is that the board of directors wants to ensure continued flexibility regarding the granting of authorisations to the board of directors.

    The proposed amendments to the articles of association are also given in the full proposals to which we refer and which are available on the bank’s website, www.landbobanken.com.

    11.b. Proposal to reduce the bank’s share capital by nom. DKK 1,315,042 by cancellation of its own shares

    The board of directors proposes a reduction in the bank’s share capital from nom. DKK 26,706,739 to nom. DKK 25,391,697 by cancellation of 1,315,042 nom. DKK 1 shares from the bank’s holding of its own shares of a nominal value of DKK 1,315,042.

    Please note that, in accordance with section 188(1) of the Danish Companies Act, the purpose of the reduction in the bank’s share capital is payment to shareholders. The amount of the reduction has been used as payment to shareholders for shares acquired by the bank under the authorisation previously granted to the board of directors by the general meeting.

    The share capital will consequently be reduced by nom. DKK 1,315,042 and the bank’s holding of its own shares will be reduced by 1,315,042 nom. DKK 1 shares. Please note that, in accordance with section 188(2) of the Danish Companies Act, the shares in question were acquired for a total sum of DKK 1,524,948,149. This means that, apart from the reduction in nominal capital, DKK 1,523,633,107 has been paid to shareholders.

    The purpose of the board of directors’ proposed reduction of the share capital is to maintain flexibility in the bank’s capital structure.

    If the proposal is adopted, the following changes will be made to articles 2, 2a, 2b and 2c of the articles of association:
    Art. 2: The amount of “26,706,739” will be changed to “25,391,697”, Art. 2a: The amount of “5,341,347” will be changed to “5,078,339”, Art. 2b: The amount of “2,670,673” will be changed to “2,539,169”, and Art. 2c: The amount of “5,341,347” will be changed to “5,078,339”.

    11.c. Proposed authorisation for the board of directors or its appointee

    The board of directors proposes that the board of directors, or its appointee, be authorised to report the decisions which have been adopted at the general meeting for registration and to make such changes to the documents submitted to the Danish Business Authority as the Authority may require or find appropriate in connection with registration of the decisions of the general meeting.

    11.d. Proposal from a shareholder

    Proposal from shareholder Poul Aksel Andersen, Hobro:

    Reason for the proposal:
    The minutes of the 2024 annual general meeting state that: “In recruiting and proposing candidates for the shareholders’ committee (election and re-election), the committee and board of directors have focused on ensuring a diverse committee membership in terms of business experience, professional qualifications and expertise, gender, age etc.”

    Despite this, it is evident from the minutes that all of the elected members of the shareholders’ committee in 2024 were in leading positions. The shareholders’ committee is therefore hardly representative of the bank’s shareholders or customers in terms of business experience, professional qualifications or expertise.

    Proposal:
    It is proposed, that Ringkjøbing Landbobank’s work of recruiting and proposing of candidates in the future should focus on making the composition of the shareholders’ committee representative of the bank’s shareholders and customers; that the bank should make the process of admitting committee members transparent for all shareholders who might be interested in joining the shareholders’ committee; and that the bank’s work should focus specifically on ensuring that at least 25% of the members of the shareholders’ committee are employees without responsibilities for managing other staff.

    The board of directors’ recommendation regarding the proposal:

    The members of the bank’s board of directors are elected by the shareholders’ committee. Six of the eight current board members elected by the shareholders’ committee came from the membership of the shareholders’ committee. The shareholders’ committee is thus a recruitment channel for the board of directors. It is relevant, therefore, that the members of the shareholders’ committee possess the right competences for onward recruitment to the board of directors. In addition, the authorities nowadays impose a number of requirements on serving members of boards of directors of financial undertakings, including in relation to their competences, and there are also requirements regarding the collective competences of the plenary board of directors.

    The board of directors, the board of directors’ nomination committee and the shareholders’ committee are already working to promote diversity in the shareholders’ committee.

    The board of directors does not consider it appropriate to tie the board of directors’ nomination committee, the board of directors and the shareholders’ committee to a specific framework in future recruitment processes for nominations of candidates to the shareholders’ committee.

    For the above reasons, the board of directors does not support the proposal.

    Validity requirements for resolutions

    The proposals under items 11.a. and 11.b. of the agenda require adoption by at least two-thirds (2/3) both of votes cast and of the share capital with voting rights represented at the general meeting. Other proposals can be adopted by simple majority vote, except item 5 on the agenda which is a consultative vote.

    Amount of share capital and the shareholders’ voting rights and date of registration – the right to attend and vote at the general meeting

    Please note that the amount of the share capital is nom. DKK 26,706,739 consisting of 26,706,739 nom. DKK 1 shares.

    As for shareholders’ voting rights, each share of nom. DKK 1 carries one (1) vote when the share is recorded in the company’s share register, or when the shareholder has reported and documented their right. However, a shareholder may cast no more than 3,000 votes.

    The right to attend and vote at the general meeting may only be exercised by shareholders who, by 11:59 p.m. on the date of registration, Wednesday, 26 February 2025, are listed as shareholders in the register of shareholders or have submitted a request to the bank, which the bank has received by that deadline, for inclusion in the register of shareholders.

    Registration for the general meeting, questions and admission cards

    Registration for the general meeting can be made

    • by contacting Euronext Securities A/S by phone +45 4358 8866 or email to CPH-investor@euronext.com or
    • by contacting one of the bank’s branches.

    In accordance with the bank’s articles of association, the deadline for registering for the general meeting is 11:59 p.m. on Friday 28 February 2025, after which admission cards for the general meeting can no longer be ordered.

    Shareholders or proxies may be accompanied by an adviser, provided the adviser’s attendance has been notified on time.

    Shareholders may ask questions in writing about the agenda items or the bank’s position in general, to be answered at the general meeting. Questions may be sent by letter to Ringkjøbing Landbobank A/S, for the attention of: General Management, Torvet 1, 6950 Ringkøbing, Denmark, or by email to regnskab@landbobanken.dk.

    Voting

    Shareholders may attend and vote in person or by proxy at the general meeting. Postal voting is also possible before the general meeting.

    Shareholders may grant proxy to the bank’s board of directors or a third party by 11:59 p.m. on Friday 28 February 2025. The proxy may be issued electronically on InvestorPortal at Euronext Securities, via the bank’s website www.landbobanken.com or in writing on a proxy form which is available from the bank’s branches.

    If a written proxy is used, it must be completed and signed, and received at the bank by the above deadline, i.e. 11:59 p.m. on Friday 28 February 2025.

    The proxy may be sent by post for the attention of: Accounts Department, Ringkjøbing Landbobank A/S, Torvet 1, 6950 Ringkøbing, Denmark, by email to regnskab@landbobanken.dk or by fax to +45 7624 4913.

    Shareholders may also send a postal vote before the general meeting.

    Postal votes may be cast electronically on InvestorPortal at Euronext Securities, via the bank’s website www.landbobanken.com or in writing on a postal vote form which is available from the bank’s branches.

    If a postal vote is cast, the ballot paper must be returned for the attention of: Accounts Department, Ringkjøbing Landbobank A/S, Torvet 1, 6950 Ringkøbing, Denmark, by email to regnskab@landbobanken.dk or by fax to +45 7624 4913.

    Electronic postal votes must be cast by 10:00 a.m. on Tuesday, 4 March 2025, by which time a postal ballot paper must also be received by the bank.

    Exercising financial rights

    Ringkjøbing Landbobank’s shareholders can choose Ringkjøbing Landbobank A/S as the account-holding institution for the purpose of exercising the financial rights through Ringkjøbing Landbobank A/S.

    Further information

    The annual report, agenda and full proposals with the proposed amendments to the articles of association, the remuneration report, other documents under section 99(1) of the Danish Companies Act and information on the collection and processing of personal data in connection with the annual general meeting will be published on the bank’s website www.landbobanken.com and made available for inspection by shareholders on Wednesday, 5 February 2025.

    Recording and webcast

    The general meeting will be recorded and the recording will subsequently be uploaded to the bank’s website, www.landbobanken.com.

    The general meeting will also be webcast via the bank’s website, www.landbobanken.com and can be viewed by everyone. It will not be possible to ask questions or vote via the webcast.

    Personal data

    For details on the bank’s processing of personal data in respect of general meetings, please see Ringkjøbing Landbobank’s privacy policy for shareholders etc., which is available on the bank’s website, www.landbobanken.com.

    Dividend

    Any dividend is expected to be available in shareholders’ return accounts on 10 March 2025.

    Yours sincerely

    Ringkjøbing Landbobank

    On behalf of the board of directors

    Martin Krogh Pedersen
    Chair of the board of directors

    Attachment

    • Indkaldelse ordinær generalforsamling 2025 – EN endelig

    The MIL Network –

    February 6, 2025

  • MIL-OSI United Kingdom: Firms which took customers’ deposits but didn’t fit their kitchens are shut down following phoenix concerns

    Source: United Kingdom – Executive Government & Departments

    Insolvency Service investigations found the Manchester-based companies took upfront payments from more than 20 customers, but there is no evidence they installed the kitchens as promised

    • Customers complained they did not receive the kitchens they had paid deposits for to Smart Choice Kitchens Limited and Empire Kitchens and Bathrooms Limited  

    • A phoenix company, Connect Kitchens Limited, was suspected of being set up to continue the same operation 

    • The three companies, connected by a shared director, were shut down in court following investigations by the Insolvency Service 

    A group of linked kitchen design and fitting companies based in Manchester have been shut down after taking upfront payments from more than 20 customers for products they did not provide. 

    Smart Choice Kitchens Limited, Empire Kitchens and Bathrooms Limited, and Connect Kitchens Limited were all wound-up at a hearing of the High Court in Manchester on Tuesday 4 February following an investigation by the Insolvency Service into their business practices which also identified a pattern of phoenixism. 

    The companies encouraged customers to make payments before the kitchens were delivered and installed. 

    They then failed to supply the kitchens and customers were left unable to obtain refunds. 

    A total of 21 customers complained to Action Fraud about the actions of Smart Choice Kitchens and Empire Kitchens and Bathrooms. Combined, the complainants had paid deposits of more than £50,000 to the two companies. 

    The victims all said that after paying a deposit, they were then falsely informed that the companies had gone into liquidation, or “went bankrupt”. 

    Insolvency Service investigators were also concerned that Connect Kitchens was acting as a successor company to Smart Choice Kitchens and Empire Kitchens and Bathrooms, putting consumers at risk of losing further sums of money due to phoenixism. 

    David Hope, Chief Investigator at the Insolvency Service, said: 

    Our investigations into Smart Choice Kitchens and Empire Kitchens and Bathrooms concluded that they were taking money from customers for kitchens they never had any intention of fitting. The victims found out about the companies through Facebook or Google and were then treated in very similar ways, losing hundreds if not thousands of pounds. 

    We were concerned that Connect Kitchens was a phoenix company created to continue the same operation. Our concerns only increased when our investigations uncovered three previous companies run by the same director and her associate, all of which appeared to use the same objectionable and dishonest trading practices. 

    Phoenix companies being set up with the sole purpose of causing clear financial harm to the public will not be tolerated by the Insolvency Service. 

    Stopping these companies from trading will protect potential future victims, disrupt suspected fraudulent activity, and act as a deterrent to others considering a similar business model.

    Smart Choice Kitchens, Empire Kitchens and Bathrooms, and Connect Kitchens were all established between November 2022 and July 2023. 

    The three companies shared a director, known as Toni Amana or Toni Amana Warrington. 

    Connect Kitchens appointed a second director in October 2024 but Warrington remained the sole person with significant control over the company. 

    Warrington and a known associate of hers were directors of three other companies which operated a similar business model to Smart Choice Kitchens, Empire Kitchens and Bathrooms, and Connect Kitchens. 

    Those three companies, Your Style Kitchens Ltd, Your Style Kitchens & Bathrooms Ltd, and Designer Kitchens and Bathrooms Limited, all stopped trading and were struck-off the Companies House register in August 2023, October 2023, and January 2024. 

    Bank statements obtained by the Insolvency Service for Smart Choice Kitchens and Empire Kitchens and Bathrooms revealed that the majority of payments were made to Warrington’s associate. 

    Warrington also failed to co-operate with the Insolvency Service’s investigations. 

    No accounting records were produced for any of the three companies and both Smart Choice Kitchens and Empire Kitchens and Bathrooms did not file accounts at Companies House on time.  

    The Official Receiver has been appointed as liquidator of Smart Choice Kitchens Limited, Empire Kitchens and Bathrooms Limited, and Connect Kitchens Limited. 

    All enquiries concerning the affairs of the three companies should be made to the Official Receiver of the Public Interest Unit: 16th Floor, 1 Westfield Avenue, Stratford, London, E20 1HZ. Email: piu.or@insolvency.gov.uk. 

    Further information 

    • Smart Choice Kitchens Limited (company number 14705893) 

    • Empire Kitchens and Bathrooms Limited (company number 14465268) 

    • Connect Kitchens Limited (company number 15023857) 

    • The Insolvency Service can investigate complaints about corporate abuse by live companies. This may include serious misconduct, fraud, scams or dishonest practice in the way the company operates. Further information on our live investigations can be found here 

    • Information on phoenix companies and the role of the Insolvency Service can be found here 

    • Further information about the work of the Insolvency Service, and how to complain about financial misconduct, is available here.

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    Updates to this page

    Published 5 February 2025

    MIL OSI United Kingdom –

    February 6, 2025

  • MIL-OSI Canada: CFEC Releases Results of October 2024 Foreign Exchange Volume Survey

    Source: Bank of Canada

    The Canadian Foreign Exchange Committee (CFEC) released today the results of its October 2024 semi-annual survey of foreign exchange volumes in Canada. The purpose of the survey is to provide information on the size and structure of the foreign exchange and foreign exchange derivatives markets in Canada. Volumes are broken down by product, currency, counterparty, maturity and execution method. The eight banks with the largest foreign exchange sales activity in Canada participate.

    The summary highlights of the October 2024 survey include the following:

    • The monthly turnover in October of traditional foreign exchange products (defined as spot transactions, outright forwards and foreign exchange swaps) totaled about US$4.5 trillion. On an average daily basis, total turnover increased by 14.7 per cent to US$204.6 billion from April 2024.
    • Spot transactions increased by 28.0 per cent to US$25.9 billion on an average daily basis from April 2024. Outright forwards increased by 9.7 per cent to US$21.7 billion and foreign exchange swaps increased by 13.5 per cent to US$156.9 billion over the same period.
    • The monthly turnover of foreign exchange derivatives (currency swaps and options) totaled US$427 billion in October. On an average daily basis, derivatives turnover decreased by 5.5 per cent to US$19.4 billion from April 2024.
    • Currency swaps turnover decreased 3.6 per cent to US$14.3 billion and currency options turnover decreased by 10.5 per cent to US$5.1 billion on an average daily basis from April 2024.
    • Compared with the survey from one year ago, the average daily turnover of traditional foreign exchange products increased by 25.2 per cent, and foreign exchange derivatives increased by 46.4 per cent.

    The detailed results of the survey are presented in the summary tables attached. 

    Notes

    CFEC is an industry group composed of senior representatives from financial institutions actively involved in the foreign exchange market in Canada and the U.S. dollar/Canadian dollar market globally. Formed in 1989, its objective is to provide a forum for the regular discussion of issues and developments pertinent to the foreign exchange market, including the review of market practices and procedures. The Bank of Canada chairs CFEC and provides secretariat services to the Committee.

    The Bank of Canada also co-ordinates the CFEC survey on behalf of the market participants. The eight banks that participate in the survey are:

    • Bank of America
    • Bank of Nova Scotia
    • BMO Capital Markets
    • CIBC World Markets
    • National Bank of Canada
    • RBC Capital Markets
    • State Street Canada
    • TD Securities

    Globally, the (London) Foreign Exchange Joint Standing Committee, the (New York) Foreign Exchange Committee, the Singapore Foreign Exchange Market Committee, the Tokyo Foreign Exchange Market Committee, the Australian Foreign Exchange Committee and Hong Kong’s Treasury Markets Association conduct similar surveys. Their results are also released today (see links below).  

    https://www.bankofengland.co.uk/markets/london-foreign-exchange-joint-standing-committee
    http://www.newyorkfed.org/fxc/volumesurvey/
    https://www.sfemc.org/statistics.html
    http://www.fxcomtky.com/index_e.html
    http://www.tma.org.hk/en_newsevents.aspx
    https://www.afxc.rba.gov.au/statistics/

    MIL OSI Canada News –

    February 6, 2025

  • MIL-OSI Canada: Prime Minister announces Canada-U.S. Economic Summit

    Source: Government of Canada – Prime Minister

    While the tariffs proposed by the United States have been paused for 30 days, this is an important opportunity to build a long-term prosperity agenda for Canada. One that is resilient, that breaks down barriers between provinces and territories, and that is diversified in global trade.

    The Prime Minister, Justin Trudeau, today announced the Canada-U.S. Economic Summit, a landmark event hosted with members of the Council on Canada-U.S. Relations to galvanize business and investment across Canada. The Summit will take place in Toronto, Ontario, on February 7, 2025.

    The Canada-U.S. Economic Summit will build on the work of the Prime Minister’s Council on Canada-U.S. Relations and bring together Canadian leaders in trade, business, public policy, and organized labour. Using their sectoral expertise, the leaders will explore ways to grow Canada’s economy, make it easier to build and trade within the country, diversify export markets, and rejuvenate productivity. The Summit will see increased co-ordination, co-operation, and interoperability between partners, including through issue- and sector-specific conversations.

    Canada is the ninth-largest economy in the world. We have world-class talent, critical minerals, natural resources, a dynamic tech ecosystem, and an ambition to grow. The Canada-U.S. Economic Summit is our ambition in action – the next stride in fully unlocking our economic growth.

    The Canadian government, Canadian businesses, Canadian organized labour, Canadian civil society, and tens of millions of Canadians from coast to coast to coast are aligned and united with the same mission – building a stronger Canada, with more jobs, bigger paycheques, and long-term prosperity.

    Quote

    “The Canada-U.S. Economic Summit is Team Canada at its best. We are bringing together partners across business, civil society, and organized labour to find ways to galvanize our economy, create more jobs and bigger paycheques, make it easier to build and trade within our borders, and diversify export markets. We want businesses, investors, and workers to choose Canada.”

    Quick Facts

    • Canada and the U.S. are each other’s largest trade partners, with nearly $3.6 billion (US$2.7 billion) worth of goods and services crossing the border each day in 2023.
    • Backed by an investment of $1.3 billion and built around five pillars, Canada’s Border Plan is bolstering border security, strengthening our immigration system, and contributing to ensuring Canada’s future prosperity.
    • Last year, more than $530 billion worth of goods and services moved across provincial and territorial borders, representing almost 20 per cent of Canada’s gross domestic product.
    • On January 17, 2025, Prime Minister Justin Trudeau convened the first meeting of the newly established Council on Canada-U.S. Relations. The Council, which comprises leaders in business, innovation, and policy, will provide advice to the Prime Minister and Cabinet on issues related to Canada-U.S. relations, including the threat of tariffs.
    • The Committee on Internal Trade consists of all federal, provincial, and territorial ministers responsible for internal trade, and is responsible for supervising the implementation of the Canadian Free Trade Agreement (CFTA). This includes providing oversight over a number of CFTA working groups, assisting in the resolution of disputes, approving the annual operating budget of the Internal Trade Secretariat, and considering any other matter that may affect the operation of the CFTA.

    Associated Links

    MIL OSI Canada News –

    February 6, 2025

  • MIL-OSI USA: Air Pollution Worsened COVID-19 Mortality, Especially in Vulnerable Communities

    Source: US State of Connecticut

    In the early stages of the COVID-19 pandemic, statistics emerged showing significant discrepancies in mortality by county.

    Shinsuke Tanaka, assistant professor and director of graduate studies in the Department of Agricultural and Resource Economics, wanted to use his expertise in environmental and health economics to help understand what was at the root of this puzzle.

    “I wanted to understand what could explain that spatial heterogeneity of Covid’s impacts,” Tanaka says.

    Tanaka published a paper in the Journal of Environmental Economics and Management showing that counties with more days of downwind pollution from power plants had higher COVID-19 mortality rates. This impact was more pronounced in under-resourced communities.

    When Tanaka began his research during the 2020 lockdown, there had been a few studies looking at the links between short-term (daily or monthly) exposure to air pollution and COVID-19 mortality. But very few had considered the impacts of long-term air pollution exposure.

    Tanaka looked at the impacts of air pollution on counties within 20 miles of fossil-fueled power plants. He determined this was an appropriate radius based on readings from EPA air pollution monitors showing that air pollutants travelled downwind about that far before dissipating.

    Then, Tanaka calculated what percentage of days in a 10-year period before the pandemic a given county in the contiguous U.S. was downwind of power plant pollution.

    “That gives me a measure of long-term exposure to pollution for each county before Covid started,” Tanaka says.

    Tanaka found that counties with an average downwind frequency of 13.5% had 28% more COVID-19 deaths within the first week of April 2020 compared to upwind counties the same distance from a plant.

    Tanaka extended his research until the third mortality peak in January 2021. He found the cumulative mortality rate was 45% higher for communities that were more frequently downwind.

    Tanaka’s findings also demonstrated that these impacts were greater in counties with higher poverty rates, lower health insurance coverage, and lower education levels.

    “That indicates that disadvantaged communities and counties faced even greater burdens of pollution from these power plants during the pandemic,” Tanaka says.

    Such underlying disparities mean people in these communities are more likely to have underlying health conditions and less access to health care when they get sick.

    Other studies on links between air pollution and health have struggled to separate air pollution from other potentially confounding variables. By focusing on downwind patterns, an essentially random natural event, Tanaka was able to isolate air pollution as a variable.

    “This method allowed me to isolate the impact of pollution exposure more effectively,” Tanaka says.

    By demonstrating a method that can successfully isolate long-term air pollution exposure from confounding variables, Tanaka’s study paves the way for more research on other health outcomes.

    “COVID-19 is, of course, a very specific mortality, and I expect to see more studies on the impact of long-term air pollution exposure on various other health outcomes.”

    Research such as Tanaka’s demonstrates that the significant public health costs of fossil fuels will remain critical to public policy discussions.

    “It will be very important to understand which power plants are having greater impacts, and what plants should be closed,” Tanaka says. “Those discussions should continue.”

    This work relates to CAHNR’s Strategic Vision area focused on  Enhancing Health and Well-Being Locally, Nationally, and Globally.

    Follow UConn CAHNR on social media

    MIL OSI USA News –

    February 6, 2025

  • MIL-OSI USA: Hospital Payment Program and Medical Debt Relief Initiative Approved for Another Year

    Source: US State of North Carolina

    Headline: Hospital Payment Program and Medical Debt Relief Initiative Approved for Another Year

    Hospital Payment Program and Medical Debt Relief Initiative Approved for Another Year
    hejones1
    Tue, 02/04/2025 – 17:05

    The North Carolina Department of Health and Human Services received approval from the Centers of Medicare and Medicaid Services to continue the Healthcare Access and Stabilization Program (HASP) that makes hospital incentives for the state’s medical debt relief initiative possible. The first two years were approved in July 2024. This new approval supports the state’s work to relieve more than $4 billion and a decade’s worth of medical debt for nearly 2 million low-and middle-income North Carolinians and prevent accumulation of new debt going forward.

    “Carrying medical debt for too many people is like carrying a financial anvil. North Carolina’s medical debt relief initiative is giving these folks a clean credit slate,” said Governor Josh Stein. “I am pleased that CMS has approved this initiative for another year so we can continue to create a stronger health care system and healthier North Carolina for every person.”

    In its third year, for services provided to Medicaid managed care enrollees from July 2025 to June 2026, the HASP program will include nearly $6.5 billion in gross revenue if all North Carolina hospitals continue to participate in the medical debt relief initiative. Importantly, HASP dollars are not being used to implement medical debt relief for consumers. Rather, hospitals are required to relieve medical debt deemed uncollectable and adopt certain charity care policies as a condition of eligibility to receive enhanced HASP payments.

    North Carolina’s program is the first in the nation to leverage Medicaid state directed payment authority to encourage hospitals to both relieve historical medical debt and adopt forward-looking protections to prevent the accumulation of debt.

    “North Carolina’s innovative medical debt relief plan ensures people with low-income are protected from harmful debt collection practices and financial ruin,” said NC Health and Human Services Secretary Dev Sangvai. “This program is a win-win for North Carolina so that people can receive the care they need without fear of costly medical debt while supporting financial sustainability for hospitals.”

    Last year, all 99 acute care hospitals in the state signed on to participate. In addition to mitigating medical debt, hospitals are also required to implement more robust and standardized financial assistance policies and eliminate reporting of medical debt to credit agencies.

    More than 20 million Americans had outstanding medical debt in 2021. Among those experiencing health care-related debt nationally, more than 40 percent have fully or nearly exhausted personal savings or taken on credit card debt to cover their medical debts. Other than income and job loss, medical expenses are the highest contributor to personal bankruptcy in the United States. The ultimate impact is significant harm to patients – eight in 10 people with medical debt have deferred needed medical care due to the expense.

    Research shows that medical debt relief is a highly bi-partisan issue with strong support from Democratic and Republican leaders. Polling shows 80% of people want their state and federal elected officials to pass policies to reduce health care costs. Medical debt relief is an initiative leadership can use to significantly improve the lives of their constituents.

    People who are eligible do not need to take any action to have their medical debt relieved. Hospitals are working with Undue Medical Debt to notify patients directly if they meet the eligibility requirements. For more information about HASP and North Carolina’s Medical Debt Relief Incentive Program, please see the FAQ and Toolkit for other states interested in implementing similar programs.

    El Departamento de Salud y Servicios Humanos de Carolina del Norte recibió la aprobación de los Centros de Servicios de Medicare y Medicaid (CMS, por sus siglas en inglés) para continuar el Programa de Acceso y Estabilización de la Atención Médica (HASP) que hace posible los incentivos hospitalarios para la iniciativa estatal de alivio de la deuda médica. Los dos primeros años fueron aprobados en julio de 2024. Esta nueva aprobación respalda el trabajo del estado para aliviar más de $4 mil millones y una década de deuda médica para casi 2 millones de habitantes de Carolina del Norte de bajos y medianos ingresos y evitar la acumulación de nueva deuda en el futuro.

    “Llevar deudas médicas para demasiadas personas es como llevar un yunque financiero. La iniciativa de alivio de la deuda médica de Carolina del Norte está dando a estas personas un borrón y cuenta nueva”, dijo el gobernador Josh Stein. “Me complace que los CMS hayan aprobado esta iniciativa por un año más para que podamos continuar creando un sistema de atención médica más sólido y una Carolina del Norte más saludable para cada persona”.

    En su tercer año, para los servicios prestados a los afiliados a la atención administrada de Medicaid desde julio de 2025 hasta junio de 2026, el programa HASP incluirá casi $6.5 mil millones en ingresos brutos si todos los hospitales de Carolina del Norte continúan participando en la iniciativa de alivio de la deuda médica. Es importante destacar que los dólares de HASP no se están utilizando para implementar el alivio de la deuda médica para los consumidores. Más bien, los hospitales están obligados a aliviar la deuda médica considerada incobrable y adoptar ciertas políticas de atención de caridad como condición de elegibilidad para recibir pagos HASP mejorados.

    El programa de Carolina del Norte es el primero en la nación en aprovechar la autoridad de pago dirigida por el estado de Medicaid para alentar a los hospitales a aliviar la deuda médica histórica y adoptar protecciones para evitar la acumulación de deuda.

    “El innovador plan de alivio de la deuda médica de Carolina del Norte garantiza que las personas con bajos ingresos estén protegidas de las prácticas dañinas de cobro de deudas y la ruina financiera”, dijo el secretario de Salud y Servicios Humanos de Carolina del Norte, Dev Sangvai. “Este programa es beneficioso para Carolina del Norte para que las personas puedan recibir la atención que necesitan sin temor a una deuda médica costosa y al mismo tiempo apoyar la sostenibilidad financiera de los hospitales”.

    El año pasado, los 99 hospitales de cuidados intensivos del estado se inscribieron para participar. Además de mitigar la deuda médica, los hospitales también deben implementar políticas de asistencia financiera más sólidas y estandarizadas y eliminar la notificación de la deuda médica a las agencias de crédito.

    Más de 20 millones de estadounidenses tenían deudas médicas pendientes en 2021. Entre las personas que experimentan deudas relacionadas con la atención médica a nivel nacional, más del 40 por ciento han agotado por completo o casi por completo sus ahorros personales o se han endeudado con tarjetas de crédito para pagar sus deudas médicas. Aparte de los ingresos y la pérdida de empleo, los gastos médicos son el mayor contribuyente a la bancarrota personal en los Estados Unidos. El impacto final es un gran daño para los pacientes: ocho de cada diez personas con deudas médicas han diferido la atención médica necesaria debido al gasto.

    La investigación muestra que el alivio de la deuda médica es un tema altamente bipartidista con un fuerte apoyo de los líderes demócratas y republicanos. Las encuestas muestran que el 80% de las personas quieren que sus funcionarios electos estatales y federales aprueben políticas para reducir los costos de atención médica. El alivio de la deuda médica es una iniciativa que el liderazgo puede utilizar para mejorar significativamente las vidas de sus constituyentes.

    Las personas que son elegibles no necesitan tomar ninguna medida para que se les alivie su deuda médica. Los hospitales están trabajando con Undue Medical Debt para notificar directamente a los pacientes si cumplen con los requisitos de elegibilidad. Para obtener más información sobre HASP y el Programa de Incentivos para el Alivio de Deudas Médicas de Carolina del Norte, consulte las Preguntas frecuentes y el Kit de herramientas para otros estados interesados en implementar programas similares.  

    Feb 5, 2025

    MIL OSI USA News –

    February 6, 2025

  • MIL-OSI: Community Housing Capital and Federal Home Loan Bank of Atlanta Award $750,000 for Affordable Housing in Southfield

    Source: GlobeNewswire (MIL-OSI)

    SOUTHFIELD, Mich., Feb. 05, 2025 (GLOBE NEWSWIRE) — Community Housing Capital (CHC) and the Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today an investment of $750,000 in grant funding designated for John Grace Arms, a project to construct 60 multifamily rental units in Southfield, Michigan.

    The funding, sourced from FHLBank Atlanta’s Affordable Housing Program (AHP) General Fund and administered through CHC, a member of FHLBank Atlanta, will help address the critical need for affordable housing in the community.

    Located in the heart of Southfield, John Grace Arms involves the adaptive reuse of a former, historic school building into modern, affordable housing units and 5,000 square feet of community space. The project is prioritizing the use of sustainable building materials to minimize environmental impact and promote healthier living conditions.

    CHC, a financial supporter of John Grace Arms, applied for FHLBank Atlanta’s Affordable Housing Program (AHP) General Fund in 2024, which helps organizations to acquire, construct, rehabilitate or preserve affordable housing units. In December 2024, FHLBank Atlanta announced John Grace Arms as one of 66 grant recipients to receive a total of $55 million in funding to support 4,200 housing units.

    “Community Housing Capital is proud to have supported the project developer MiSide in successfully securing $750,000 in AHP grant funding through FHLBank Atlanta. These funds will support the development of John Grace Arms, a transformative housing community that will offer 60 senior apartments, with a focus on fostering community engagement and recreation,” said Dana Chestnut, CHC’s Chief Lending Officer. “CHC has a long history of partnering with NeighborWorks America organizations to facilitate impactful projects, having sponsored successful applications that have collectively secured $4.8 million in grant funding to date. We are committed to leveraging opportunities like the AHP grant to amplify the impact of affordable housing initiatives nationwide.”

    “John Grace Arms is a fantastic example of progress that can happen when organizations come together to execute on a vision,” said Kirk Malmberg, President and CEO of FHLBank Atlanta. “We are pleased to partner with member financial institutions like Community Housing Capital and proud to see this funding go toward turning an existing, unused building into safe, affordable homes for Southfield residents.”

    John Grace Arms is located at 21030 Indian Street, Southfield, Michigan and is scheduled to be completed by the end of 2026.

    About Community Housing Capital
    Community Housing Capital (CHC) is a 24-year-old Community Development Financial Institution (CDFI) and 501(c)(3) created to facilitate the creation and preservation of affordable housing. Since 2000, CHC has, through its lending activity, created or preserved over 24,792 units of affordable housing and facilitated $3.8 billion in total development. Community Housing Capital is headquartered in Decatur, Georgia.

    About Federal Home Loan Bank of Atlanta
    FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank’s members – its shareholders and customers – are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district Banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $9.1 billion in Affordable Housing Program funds, assisting more than 1.2 million households. For more information, visit www.fhlbatl.com.

    MEDIA CONTACTS:

    Federal Home Loan Bank of Atlanta
    Sheryl Touchton
    stouchton@fhlbatl.com

    Community Housing Capital, Inc.
    Mona Elminyawi
    melminyawi@communityhousingcapital.org

    The MIL Network –

    February 6, 2025

  • MIL-OSI: Paperclip SAFE Announces Alignment with Encryption Requirements Mandated within EU DORA Act

    Source: GlobeNewswire (MIL-OSI)

    HACKENSACK, N.J., Feb. 05, 2025 (GLOBE NEWSWIRE) — Paperclip, Inc. (OTCMKTS:PCPJ) announces its SAFE technology aligns with new European Union DORA requirements mandating data encryption.

    The Digital Operational Resilience Act (DORA) went into effect on January 17th, 2025, impacting all European Union (EU) financial services organizations and their Information and Communications Technology (ICT) suppliers. This regulation has far-reaching implications, and not only for Financial Institutions operating in the EU, but for US organizations as well.

    “We should look at DORA as a foreshadowing of U.S. regulations to come,” said Chad Walter, CRO at Paperclip, Inc. “The demand is increasing for better resiliency due to increased data theft, manipulation, and ransomware attacks. DORA is likely to influence data resiliency requirements globally, just as GDPR did for data privacy. There are key pieces to the DORA regulations that are coming to a regulation near you.”

    A key aspect of DORA is its specificity around encryption. To comply with DORA, organizations that do business with the financial sector in the EU must enhance their encryption tools to support encryption of data at rest, in transit, and in use. This type of encryption technology isn’t widely adopted to date and is reliant on newer, innovative technologies like Paperclip SAFE®.

    Paperclip SAFE® always-encrypted technology is uniquely positioned to help organizations on their path to data resiliency and DORA compliance. Paperclip SAFE meets DORA requirements by assuring that confidentiality, availability, and integrity of data is protected via its always-encrypted technology.

    DORA introduces significant personal accountability for compliance and cybersecurity leaders at financial entities, and the service providers they work with. To learn more about DORA requirements and the impact on your organization—US or EU—visit https://paperclip.com/dora-regulations/

    Paperclip will be attending TechEx Global in London this week, Feb. 5-6, to meet with EU and non-EU companies to discuss DORA, encryption strategies, and appetite for innovation. Our team will be learning about and discussing EU regulations along with other global data security requirements.

    About Paperclip Inc.
    With over three decades of customer-centric innovation, Paperclip is a proven strategic partner that continues to revolutionize data encryption, content supply chain, and document management for Fortune 1000 companies worldwide. Every second of every day, Paperclip solutions securely process, transcribe, store, and communicate our client’s most sensitive content, such as PII, PHI, NPI, and corporate IP. Paperclip enables enterprises to harness the power of their data without ever sacrificing security. As a trusted leader, Paperclip continues to innovate, adapt and excel within a rapidly changing digital world. Learn more at www.paperclip.com.

    About Paperclip SAFE®
    Paperclip’s proprietary SAFE® encryption solution builds upon an established foundation of trust and collaboration earned from over three decades of consistent performance. Paperclip SAFE utilizes our team’s in-depth knowledge of the data supply chain to ensure that private, sensitive, and controlled data is always encrypted and removed from risk of data theft and ransom. Originally developed as an internal solution, Paperclip has operationalized SAFE for more than four years to protect the critical data behind our active customer base, including nine of the top 10 life insurance and annuity enterprises. With Paperclip SAFE, critical data assets are always encrypted, always available, and always ahead of evolving risk. For more information, visit https://paperclip.com/safe.

    CONTACT
    Megan Brandow, Director of Marketing
    Paperclip, Inc.
    (585) 727-0983
    mbrandow@paperclip.com

    The MIL Network –

    February 6, 2025

  • MIL-OSI: Rumble Announces Final Results of its Tender Offer

    Source: GlobeNewswire (MIL-OSI)

    LONGBOAT KEY, Fla, Feb. 05, 2025 (GLOBE NEWSWIRE) — Rumble (NASDAQ:RUM) (“Rumble” or the “Company”), the video-sharing platform and cloud services provider, announced today the final results of its tender offer to purchase up to 70,000,000 shares of its Class A common stock, par value $0.0001 per share (the “Class A Common Stock”), at a purchase price of $7.50 per share, in cash, less any applicable withholding taxes and without interest, representing an aggregate purchase price of $525 million. The tender offer expired at 5:00 p.m., New York City time, on February 4, 2025.

    Based on the final count by the depositary for the tender offer, 70,061,168 shares of common stock were validly and successfully tendered and not properly withdrawn.

    Pursuant to the terms of the tender offer, Rumble has accepted for purchase 70,000,000 shares of common stock on a pro-rata basis, except for tenders of odd lots, which will be accepted in full, for a total cost of $525 million, excluding fees and expenses related to the tender offer. The proration factor for the tender offer, after giving effect to the priority of the odd lots, was 0.9991284. The depositary will promptly pay for the shares accepted for purchase and will return all other shares tendered and not purchased.

    The tender offer was undertaken pursuant to the terms of the previously announced Transaction Agreement between Rumble and Tether Investments Limited, dated December 20, 2024. Of the 70,061,168 shares of common stock that were validly tendered and not properly withdrawn, 70,000,000 shares were tendered by certain existing stockholders of Rumble, including certain executive officers and directors of Rumble (or affiliates thereof), who had entered into separate tender and support agreements with the Company on December 20, 2024, pursuant to which such supporting stockholders agreed, among other things, to tender a minimum of 70,000,000 shares in the tender offer on the same terms and conditions as other stockholders of the Company, including with respect to the purchase price of $7.50 per share and the applicable proration provisions.

    Stockholders who have questions or would like additional information about the tender offer may contact the information agent for the tender offer, Georgeson LLC, at (833) 880-2584 (toll free) or by email at RumbleOffer@Georgeson.com. The dealer manager for the tender offer was Cantor Fitzgerald & Co.

    ABOUT RUMBLE

    Rumble is a high-growth video platform and cloud services provider that is creating an independent infrastructure. Rumble’s mission is to restore the internet to its roots by making it free and open once again. For more information, visit: corp.rumble.com.

    Forward-Looking Statements

    Certain statements in this press release constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Statements contained in this press release that are not historical facts are forward-looking statements and include, for example, statements regarding our expectations or beliefs regarding our proposed transaction with Tether. Certain of these forward-looking statements can be identified by using words such as “anticipates,” “believes,” “intends,” “estimates,” “targets,” “expects,” “endeavors,” “forecasts,” “well underway,” “could,” “will,” “may,” “future,” “likely,” “on track to deliver,” “on a trajectory,” “continues to,” “looks forward to,” “is primed to,” “plans,” “projects,” “assumes,” “should” or other similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, and our actual results could differ materially from future results expressed or implied in these forward-looking statements. The forward-looking statements included in this release are based on our current beliefs and expectations of our management as of the date of this release. These statements are not guarantees or indicative of future performance. Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements include uncertainties as to the timing of the transactions; uncertainties as to the percentage of shares of Rumble stock tendered, and the resulting proration factor, in the offer; the possibility that various closing conditions for the transactions may not be satisfied or waived; the risk that we may be unable to derive additional benefits from the relationship with Tether, including increased advertising revenue, cloud revenue, and expansion into cryptocurrency payments; the risk that stockholder litigation in connection with the transactions may result in significant costs of defense, indemnification and liability; risks inherent with our increasing affiliation with crypto assets, including volatility; as well as regulatory and reputational risks; the risks of implementing a new treasury diversification strategy; our ability to grow and manage future growth profitably over time, maintain relationships with customers, compete within our industry and retain key employees; the possibility that we may be adversely impacted by economic, business, and/or competitive factors; our limited operating history makes it difficult to evaluate our business and prospects; our recent and rapid growth may not be indicative of future performance; we may not continue to grow or maintain our active user base, and may not be able to achieve or maintain profitability; risks relating to our ability to attract new advertisers, or the potential loss of existing advertisers or the reduction of or failure by existing advertisers to maintain or increase their advertising budgets; Rumble Cloud, our recently launched cloud services business, may not achieve success and, as a result, our business, financial condition and results of operations could be adversely affected; negative media campaigns may adversely impact our financial performance, results of operations, and relationships with our business partners, including content creators and advertisers; spam activity, including inauthentic and fraudulent user activity, if undetected, may contribute, from time to time, to some amount of overstatement of our performance indicators; we collect, store, and process large amounts of user video content and personal information of our users and subscribers and, if our security measures are breached, our sites and applications may be perceived as not being secure, traffic and advertisers may curtail or stop viewing our content or using our services, our business and operating results could be harmed, and we could face governmental investigations and legal claims from users and subscribers; we may fail to comply with applicable privacy laws; we are subject to cybersecurity risks and interruptions or failures in our information technology systems and, notwithstanding our efforts to enhance our protection from such risks, a cyber incident could occur and result in information theft, data corruption, operational disruption and/or financial loss; we may be found to have infringed on the intellectual property of others, which could expose us to substantial losses or restrict our operations; we may face liability for hosting a variety of tortious or unlawful materials uploaded by third parties, notwithstanding the liability protections of Section 230 of the Communications Decency Act of 1996; we may face negative publicity for removing, or declining to remove, certain content, regardless of whether such content violated any law; paid endorsements by our content creators may expose us to regulatory risk, liability, and compliance costs, and, as a result, may adversely affect our business, financial condition and results of operations; our traffic growth, engagement, and monetization depend upon effective operation within and compatibility with operating systems, networks, devices, web browsers and standards, including mobile operating systems, networks, and standards that we do not control; our business depends on continued and unimpeded access to our content and services on the internet and, if we or those who engage with our content experience disruptions in internet service, or if internet service providers are able to block, degrade or charge for access to our content and services, we could incur additional expenses and the loss of traffic and advertisers; we face significant market competition, and if we are unable to compete effectively with our competitors for traffic and advertising spend, our business and operating results could be harmed; we rely on data from third parties to calculate certain of our performance metrics and real or perceived inaccuracies in such metrics may harm our reputation and negatively affect our business; changes to our existing content and services could fail to attract traffic and advertisers or fail to generate revenue; we derive the majority of our revenue from advertising and the failure to attract new advertisers, the loss of existing advertisers, or the reduction of or failure by existing advertisers to maintain or increase their advertising budgets would adversely affect our business; we depend on third-party vendors, including internet service providers, advertising networks, and data centers, to provide core services; hosting and delivery costs may increase unexpectedly; we have offered and intend to continue to offer incentives, including economic incentives, to content creators to join our platform, and these arrangements may involve fixed payment obligations that are not contingent on actual revenue or performance metrics generated by the applicable content creator but rather are based on our modeled financial projections for that creator, which if not satisfied may adversely impact our financial performance, results of operations and liquidity; we may be unable to develop or maintain effective internal controls; potential diversion of management’s attention and consumption of resources as a result of acquisitions of other companies and success in integrating and otherwise achieving the benefits of recent and potential acquisitions; we may fail to maintain adequate operational and financial resources or raise additional capital or generate sufficient cash flows; changes in tax rates, changes in tax treatment of companies engaged in e-commerce, the adoption of new tax legislation, or exposure to additional tax liabilities may adversely impact our financial results; compliance obligations imposed by new privacy laws, laws regulating social media platforms and online speech in certain jurisdictions in which we operate, or industry practices may adversely affect our business; and those additional risks, uncertainties and factors described in more detail under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023, and in our other filings with the Securities and Exchange Commission (the “SEC”). We do not intend, and, except as required by law, we undertake no obligation, to update any of our forward-looking statements after the issuance of this release to reflect any future events or circumstances. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Rumble on Social Media Investors and others should note that we announce material financial and operational information to our investors using our investor relations website (investors.rumble.com), press releases, SEC filings and public conference calls and webcasts. We also intend to use certain social media accounts as a means of disclosing information about us and our services and for complying with our disclosure obligations under Regulation FD: the @rumblevideo X (formerly Twitter) account (x.com/rumblevideo), the @gamingonrumble X (formerly Twitter) account (x.com/gamingonrumble), the @rumble TRUTH Social account (truthsocial.com/@rumble), the @chrispavlovski X (formerly Twitter) account (x.com/chrispavlovski), and the @chris TRUTH Social account (truthsocial.com/@chris), which Chris Pavlovski, our Chairman and Chief Executive Officer, also uses as a means for personal communications and observations. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our investor relations website.

    For investor inquiries, please contact:

    Rumble IR

    Shannon Devine
    MZ Group, MZ North America
    203-741-8811
    rumble@mzgroup.us    

    Rumble PR
    press@rumble.com

    The MIL Network –

    February 6, 2025

  • MIL-OSI: Phunware Mobile Hospitality Solution Deployed at JW Marriott Phoenix Desert Ridge Resort & Spa

    Source: GlobeNewswire (MIL-OSI)

    Phunware Technology for Location-Based Services and Enhanced Connectivity Providing Guests Seamless, Property-Wide Navigation

    Integrated Solutions for Data-Driven Insights and Location Based Services to Boost Efficiency, Revenue, and Guest Satisfaction

    AUSTIN, Texas, Feb. 05, 2025 (GLOBE NEWSWIRE) — Phunware, Inc. (“Phunware” or the “Company”) (NASDAQ: PHUN), a leader in enterprise cloud solutions for mobile applications, announced today that JW Marriott Phoenix Desert Ridge Resort & Spa is deploying its enhanced Smart Hospitality Solution. The app will provide JW Marriott Desert Ridge guests using iOS and Android operating systems with real time navigation capabilities across 950 guest rooms and meeting space as well as the amenities including: AquaRidge WaterPark, Revive Spa, multiple restaurants, golf club and other features at this Marriott resort property.

    JW Marriott Desert Ridge chose Phunware to develop the resort property app based on experience and capabilities developing mobile solutions that enhance guest experiences across complex facilities.

    “Working with Phunware enables us to provide guests the tools to navigate and discover everything the property has to offer,” said Christa Wood, Director of Marketing at JW Marriott Phoenix Desert Ridge Resort & Spa. “Our new mobile app showcases amenities and seasonal activities throughout the year, ensuring guest enjoyment and engagement with our resort.”

    Phunware’s enhanced Smart Hospitality Solution perfectly aligns with Marriott’s requirements for mobile-first guest experiences by enabling resort guests to access features such as:

    • On-Property Navigation
      Navigate seamlessly throughout the resort with step-by-step directions. Guests can easily locate rooms, event venues, dining options, pools, and other amenities. This feature enhances the guest experience by eliminating the stress of finding their way around large properties.
    • Dining Reservations
      Explore and reserve exceptional dining options at the JW Marriott Desert Ridge, from the inventive Southwestern flavors of Tía Carmen to the Asian-inspired creations at Kembara, or the refined atmosphere of Meritage, an Urban Tavern by the golf course.
    • Cabana and Experience Bookings
      Conveniently book poolside cabanas to relax by the water and participate in resort-hosted events and activities, such as family-friendly experiences, fitness classes, or entertainment nights.
    • Spa and Golf Reservations
      Effortlessly schedule spa treatments, including massages, facials, body treatments, and salon services, through the app. Guests can also reserve tee times at the resort golf course, making it simple to plan a relaxing or active day.

    “Technology has become a cornerstone of modern hospitality and forward-looking companies are providing the seamless, personalized mobile-first experiences that guests expect,” said Stephen Chen, CEO of Phunware. “JW Marriott Desert Ridge Resort & Spa is a perfect example of how personalized, easy-to-use digital interfaces will help luxury hotels, resorts and other large complex facilities exceed guest and other user expectations. For example, mobile hospitality solutions allow guests to check in, unlock their rooms, order room service and book activities — all from their smartphones.”

    Click here to learn more about how Phunware’s mobile experience platform unifies the guest experience in hospitality.

    About JW Marriott Phoenix Desert Ridge Resort & Spa

    Set on 316 acres of sweeping Sonoran Desert, JW Marriott Phoenix Desert Ridge Resort & Spa features 950 rooms with dramatic desert and mountain views among lush grounds and gardens. The elements of fire, water, earth, and sky are woven into the resort experience, amenities, and decor. Arizona’s largest luxury resort offers Marriott’s first Revive Spa, a fitness center and movement studio, seven dining outlets, 240,000 square feet of indoor and outdoor meeting space, and the exclusive Griffin Club. The AAA Four Diamond resort also boasts four acres of elaborately landscaped waterways, including five pools, a 1,600-foot Lazy River and three unique multi-story waterslides that opened in summer 2023. A destination for the active, the expansive resort offers ample opportunity to explore the outdoors and delight in 330+ days of sunshine a year, with on-site amenities such as 17 pickleball courts, three tennis courts, 36 holes of championship golf at Wildfire Golf Club, and bike rentals, along with convenient access to nearby hiking and fitness trails.

    About Phunware

    Phunware, Inc. (NASDAQ: PHUN) is an enterprise software company specializing in mobile app solutions with integrated intelligent capabilities. We provide businesses with the tools to create, implement, and manage custom mobile applications, analytics, digital advertising, and location-based services. Phunware is transforming mobile engagement by delivering scalable, personalized, and data-driven mobile app experiences.

    Phunware’s mission is to achieve unparalleled connectivity and monetization through the widespread adoption of Phunware mobile technologies, leveraging brands, consumers, partners, digital asset holders, and market participants. Phunware is poised to expand its software products and services audience through its new Generative AI platform, utilize and monetize its patents and other intellectual property, and reintroduce its digital asset ecosystem for existing holders and new market participants.

    For more information on Phunware, please visit www.phunware.com. To better understand and leverage generative AI and Phunware’s mobile app technologies, visit ai.phunware.com.

    Safe Harbor / Forward-Looking Statements

    This press release includes forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy and plans, and our objectives for future operations, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” and similar expressions are intended to identify forward-looking statements. For example, Phunware is using forward-looking statements when it discusses the adoption and impact of emerging technologies and their use across mobile engagement platforms.

    The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us. These forward-looking statements involve risks, uncertainties, and other assumptions that may cause actual results to differ materially from those expressed or implied. These risks and uncertainties include, but are not limited to, those factors described under the heading “Risk Factors” in our filings with the SEC. We undertake no obligation to update any forward-looking statements.

    By their nature, forward-looking statements involve risks and uncertainties. We caution you that forward-looking statements are not guarantees of future performance and that our actual results may differ materially from those expressed or implied by these forward-looking statements.

    Investor Relations Contact:

    Chris Tyson, Executive Vice President
    MZ Group – MZ North America
    949-491-8235
    PHUN@mzgroup.us
    www.mzgroup.us

    Phunware Media Contact:

    Joe McGurk, Managing Director
    917-259-6895
    PHUN@mzgroup.us

    The MIL Network –

    February 6, 2025

  • MIL-OSI: Oxbridge / SurancePlus Selects Coinbase Prime to Support Strategic Bitcoin and Ethereum Investment

    Source: GlobeNewswire (MIL-OSI)

    GRAND CAYMAN, Cayman Islands, Feb. 05, 2025 (GLOBE NEWSWIRE) — Oxbridge Re Holdings Limited (Nasdaq: OXBR) (“Oxbridge Re”), together with its subsidiary SurancePlus, is engaged in the tokenization of Real-World Assets (“RWAs”), initially with tokenized reinsurance securities, and in providing reinsurance solutions to property and casualty insurers in the Gulf Coast region of the United States, today announced it has selected Coinbase Prime to facilitate the purchase and secure custody of Bitcoin and Ethereum along with potentially other cryptocurrencies as a treasury reserve asset.

    Jay Madhu, CEO of Oxbridge, commented, “Our collaboration with Coinbase underscores our commitment to integrating cutting-edge blockchain solutions into our financial framework. By working with Coinbase, we are confident in our ability to securely manage digital assets while paving the way for new investment opportunities that align with our blockchain vision.”

    Ryan Ballantyne, Institutional Sales Manager of Coinbase, commented, “Oxbridge / SurancePlus’ decision to include Bitcoin and Ethereum as a treasury reserve asset underscores the increasing alignment between traditional finance and blockchain technology. We look forward to supporting their Bitcoin and Ethereum investment and innovative approach to integrating blockchain into real-world applications (RWAs). Selecting Coinbase Prime ensures a trusted and secure platform for buying and storing their crypto investments.”

    About Oxbridge Re Holdings Limited 

    Oxbridge Re Holdings Limited (NASDAQ: OXBR, OXBRW) (“Oxbridge”) is headquartered in the Cayman Islands. The company offers tokenized Real-World Assets (“RWAs”) as tokenized reinsurance securities and reinsurance business solutions to property and casualty insurers, through its wholly owned subsidiaries SurancePlus Inc., Oxbridge Re NS, and Oxbridge Reinsurance Limited.

    Insurance businesses in the Gulf Coast region of the United States purchase property and casualty reinsurance through our licensed reinsurers Oxbridge Reinsurance Limited and Oxbridge Re NS.

    Our Web3-focused subsidiary, SurancePlus Inc. (“SurancePlus”), has developed the first “on-chain” reinsurance RWA of its kind to be sponsored by a subsidiary of a publicly traded company. By digitizing interests in reinsurance contracts as on-chain RWAs, SurancePlus has democratized the availability of reinsurance as an alternative investment to both U.S. and non-U.S. investors. 

    Company Contact:
    Oxbridge Re Holdings Limited
    Jay Madhu, CEO
    +1 345-749-7570
    jmadhu@oxbridgere.com

    Forward-Looking Statements

    This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. A detailed discussion of risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in the section entitled “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission (“SEC”) on 26th March 2024. The occurrence of any of these risks and uncertainties could have a material adverse effect on the Company’s business, financial condition and results of operations. Any forward-looking statements made in this press release speak only as of the date of this press release and, except as required by law, the Company undertakes no obligation to update any forward-looking statement contained in this press release, even if the Company’s expectations or any related events, conditions or circumstances change.

    The MIL Network –

    February 6, 2025

  • MIL-OSI: Cyabra Launches AI-Powered ‘Insights’ Feature, Safeguarding Brands and Governments Against AI-Driven Digital Disinformation

    Source: GlobeNewswire (MIL-OSI)

    • False news stories are 70% more likely to be shared than true stories across digital platforms, and experts predict disinformation will become the top challenge for public and private sectors worldwide in 2025.
    • Cyabra’s Insights feature equips organizations to quickly and confidently detect and comprehend digital threats.

    New York, NY, Feb. 05, 2025 (GLOBE NEWSWIRE) —  Cyabra Ltd. (“Cyabra”), a leading AI platform for real-time disinformation detection, introduces Insights, a powerful new AI-feature designed to transform complex social media disinformation data into clear, actionable answers in seconds.

    False narratives, fake accounts, and AI-generated content are spreading faster than ever, costing businesses and governments billions annually and eroding public trust and reputations. With AI-generated disinformation spreading six times faster than the truth—especially during high-stakes events like elections and holiday seasons—the need for rapid-response tools has never been more critical.

    Insights takes the complexity out of disinformation detection by breaking down Cyabra’s robust data findings into intuitive visuals and an automated Q&A format. In response to users’ most common requests and questions, Insights empowers brands and governments to quickly uncover harmful narratives, identify fake accounts (bots), and understand how false content spreads—saving time, resources, and reputations during critical moments.

    “Every second matters when identifying and countering disinformation,” said Dan Brahmy, CEO and co-founder of Cyabra. “Insights turns vast amounts of data into clear, actionable knowledge, empowering our clients to uncover the real story behind the data and respond before the damage is done. It’s like having an expert analyst at your fingertips.”

    Key Features of Insights:

    1. Automated Disinformation Analysis: Identifies bots, fake profiles, and harmful narratives without manual input.
    2. Clear, Actionable Visuals: Unveils trends, patterns, and key metrics with heatmaps and charts that anyone can understand.
    3. User-Friendly Q&A Format: Answers critical questions about disinformation scans in seconds, helping users decide their next steps with confidence.

    “Clients often ask, ‘What’s next?’ when confronting disinformation,” said Yossef Daar, CPO and co-founder of Cyabra. “Insights takes the guesswork out of analysis, giving users a straightforward, visual way to see where false narratives are spreading, who’s behind them, and what’s driving engagement. This enables them to respond to digital threats faster and more effectively.”

    During beta testing, Insights enabled:

    • A Fortune 500 company to neutralize reputational damage in minutes after detecting a disinformation spike about its CEO.
    • A government agency to uncover and disrupt hashtags fueling disinformation campaigns, enabling quicker interventions.

    Insights is now available on Cyabra’s platform.

    Cyabra has entered into a business combination agreement (the “Business Combination Agreement”) with Trailblazer Merger Corporation I (NASDAQ: TBMC) (“Trailblazer”), a blank-check special-purpose acquisition company.

    About Cyabra
    Cyabra Strategy Ltd. (“Cyabra”) is a real-time AI-powered platform that uncovers and analyzes online disinformation and misinformation by uncovering fake profiles, harmful narratives, and GenAI content across social media and digital news channels. Cyabra’s AI protects corporations and governments against brand reputation risks, election manipulation, foreign interference, and other online threats. Cyabra’s platform leverages proprietary algorithms and NLP solutions, gathering and analyzing publicly available data to provide clear, actionable insights and real-time alerts that inform critical decision-making. Cyabra uncovers the good, bad, and fake online.

    For more information, visit www.cyabra.com.

    Media Contact:
    Jill Burkes
    Jill@cyabra.com
    Signal Contact: Jillabra.24

    Investor Relations Contact:
    Miri Segal
    MS-IR
    msegal@ms-ir.com

    About Trailblazer
    Trailblazer Merger Corporation I (Nasdaq: TBMC) is a blank check company formed and entered into a merger, shared exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. For more information, visit: www.trailblazermergercorp.com

    Forward-Looking Statements
    This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to certain products that will be the subject of a proposed transaction between Trailblazer Merger Corporation I (“Trailblazer”) and Cyabra Strategy Ltd. (“Cyabra”). All statements other than statements of historical facts contained in this press release, including statements regarding Cyabra’s business strategy, products, research and development costs, plans and objectives of management for future operations, and future results of current and anticipated product offerings, are forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to, the following risks relating to the proposed transaction: the ability to complete the Business Combination or, if Trailblazer does not consummate such Business Combination, any other initial business combination; expectations regarding Cyabra’s strategies and future financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and Cyabra’s ability to invest in growth initiatives and pursue acquisition opportunities; the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement; the outcome of any legal proceedings that may be instituted against Trailblazer or Cyabra following announcement of the Business Combination Agreement and the transactions contemplated therein; the inability to complete the proposed Business Combination due to, among other things, the failure to obtain Trailblazer stockholder approval; the risk that the announcement and consummation of the proposed Business Combination disrupts Cyabra’s current operations and future plans;  the ability to recognize the anticipated benefits of the proposed Business Combination; unexpected costs related to the proposed Business Combination; the amount of any redemptions by existing holders of Trailblazer’s common stock being greater than expected; limited liquidity and trading of Trailblazer’s securities; geopolitical risk and changes in applicable laws or regulations; the size of the addressable markets for Cyabra’s products and services; the possibility that Trailblazer and/or Cyabra may be adversely affected by other economic, business, and/or competitive factors; the ability to obtain and/or maintain the listing of Combined Company’s Common Stock on Nasdaq following the Business Combination; operational risk; and the risks that the consummation of the proposed Business Combination is substantially delayed or does not occur.

    Important Information for Investors and Stockholders
    Trailblazer will file a registration statement on Form S-4 with the SEC, which will include a proxy statement for Trailblazer’s stockholders and a prospectus related to the securities of the combined company. After the registration statement is declared effective, the proxy statement/prospectus will be sent to all Trailblazer stockholders.

    INVESTORS AND STOCKHOLDERS OF TRAILBLAZER ARE URGED TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS, AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION AND THE PARTIES INVOLVED.

    Once filed, free copies of these documents can be obtained from the SEC’s website at  www.sec.gov. Additional information about Trailblazer can be found on its website at  www.trailblazermergercorp.com or by contacting info@trailblazermergercorp.com.

    Participants in the Solicitation
    Cyabra, Trailblazer, and their respective directors and executive officers may be deemed participants in the solicitation of proxies from Trailblazer stockholders regarding the transaction. Information about Trailblazer’s directors and executive officers and their ownership of Trailblazer’s securities is set forth in Trailblazer’s most recent Annual Report on Form 10-K filed with the SEC, as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filing. Other information regarding the interests of the participants in the proxy solicitation will be included in the proxy statement/prospectus pertaining to the proposed Transactions when it becomes available.

    No Offer or Solicitation
    This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, or a solicitation of any vote or approval. No sale of securities shall occur in any jurisdiction in which such offer, solicitation, or sale would be unlawful before registration or qualification under applicable laws.

    The MIL Network –

    February 6, 2025

  • MIL-OSI Global: How to outwit gambling adverts by ‘inoculating’ people against them

    Source: The Conversation – UK – By Jamie Torrance, Lecturer and Researcher in Psychology, Swansea University

    Gambling companies spend an estimated £1.5 billion annually on ad campaigns in the UK alone. Maxx-Studio/Shutterstock

    In a world awash with enticing promises of quick riches and thrilling wins, gambling advertisements have practically become inescapable. These meticulously crafted promotions aim to tap into the hearts and minds of consumers persuading them to gamble – whether that means starting or keeping going.

    With gambling advertising showing no signs of abating, and gambling addiction an ongoing problem across the UK, it is vital that consumers are given tools to resist. Our recent research has found that a targeted approach using “counteradvertising” videos can help people combat these persuasive tactics.

    Gambling advertisements portray gambling in a consistently positive light. They emphasise wins over losses and integrate logos into sporting events, exploiting fans’ emotional bonds with their teams and favourite athletes. For example, our previous research found that an average of 1,565 gambling logos were visible via pitch-side hoardings and on players’ kit during each English Premier League match in the 2022-23 season.

    They also widely promote financial incentives like “free bets”. These are promotions typically giving customers a chance to place a bet without using their own money.

    These incentives often come with opaque terms and conditions, encouraging riskier and potentially more harmful betting behaviour. Social media influencers and affiliates also play a role, disguising promotions as expert advice while profiting from players’ losses.

    The scale of the gambling industry’s investment in advertising is staggering. In the UK alone, companies spend an estimated £1.5 billion annually on ad campaigns spanning television, sports sponsorships and social media.

    While much attention has focused on the effects of gambling ads on children and people with gambling disorders, young adults aged 18 to 29 represent another vulnerable demographic. With lower levels of advertising literacy, young adults are less equipped to recognise and resist manipulative techniques. They also face heightened risks of gambling-related harm when exposed to legal gambling.

    A 2023 study showed that the “safer gambling” messages displayed at the end of gambling ads, such as “take time to think”, are ineffective at reducing harm. Even the term “safer gambling” itself is often seen by viewers, academics and some policymakers as an industry-favoured concept. Research has shown how it can downplay risks, leading to less regulatory oversight by implying that gambling is inherently “safe”. So, it is vital that consumers have the tools to resist the persuasive techniques used in gambling advertising.

    Inoculation theory

    To address this issue, we designed a seven-minute counteradvertising video informed by “inoculation theory”, which is a concept similar to vaccination. By exposing viewers to weakened forms of persuasive gambling tactics, the video aimed to build resistance to these strategies when encountered in the real world.

    Our video targeted five common advertising strategies: the positive portrayal of gambling, demographic targeting, embedding gambling in sports, “free” offers and affiliate marketing. Input from people who had experienced harm from gambling helped ensure the video’s relevance and effect.

    In the video, viewers saw real-world examples of these advertising strategies. Expert narration helped to unpack the manipulative tactics involved. In the segment on “free” offers, the narrator dissected the fine print of a real “free £10 bet” ad. Viewers learned that the offer’s terms were so restrictive that withdrawing the “free” £10 was nearly impossible. It required a £300 deposit of their own money and 50 wagers on slots before any withdrawal was allowed.

    We then conducted a randomised online experiment involving 1,200 young adult gamblers (aged 18 to 29). Half of the participants watched the counteradvertising video, while the other half viewed a video on healthy eating. Participants completed surveys before and after the video and again one month later, measuring their scepticism toward gambling ads, awareness of persuasive tactics and engagement with “free” offer promotions.

    Can counteradvertising videos help to ‘inoculate’ people against harmful gambling?
    REDPIXEL.PL/Shutterstock

    The participants who watched the counteradvertising video reported significantly higher levels of scepticism and awareness of gambling advertising strategies compared to the control group. These effects persisted over time. Even a month later, those who viewed the video maintained their heightened resistance to gambling ads.

    The intervention also led to tangible behavioural changes. Participants who watched the video showed a statistically significant decrease in their use of “free offers”. And 21% of them reported completely ceasing their engagement with such promotions within a month.

    Our findings highlight the potential for counteradvertising to complement broader harm reduction efforts in gambling, such as education and awareness campaigns. In autumn 2024, the UK government announced a statutory levy on gambling operators. It’s expected to generate approximately £100 million annually for research, prevention and treatment of gambling-related harm. But there’s not enough attention on tackling gambling advertising specifically.

    Empowering consumers

    Counteradvertising could be scaled up and delivered alongside independent “safer gambling” messages. By empowering consumers to critically evaluate gambling promotions, our videos have the potential to reduce gambling-related harm at its source.

    Future research could explore alternative delivery formats, such as shorter videos tailored for social media platforms. Or they could examine the long-term effects of repeated exposure to counteradvertising messages.

    With gambling ads dominating our screens, it’s time to level the playing field. Counteradvertising offers a powerful way to help consumers see through the allure of “free bets” and “wins”. And it could help people make more informed choices about their gambling behaviour.

    In the last three years, Jamie Torrance has received: Open access publication funding from Gambling Research Exchange Ontario (GREO), Conference travel and accommodation funding from the Academic Forum for the Study of Gambling (AFSG), and an exploratory research grant from the ASFG and GREO.

    Philip Newall is a member of the Advisory Board for Safer Gambling – an advisory group of the Gambling Commission in Great Britain. In the last three years, Philip Newall has contributed to research projects funded by the Academic Forum for the Study of Gambling, Clean Up Gambling, Gambling Research Australia, and the Victorian Responsible Gambling Foundation. Philip Newall has received honoraria for reviewing from the Academic Forum for the Study of Gambling and the Belgium Ministry of Justice, travel and accommodation funding from the Alberta Gambling Research Institute and the Economic and Social Research Institute, and open access fee funding from the Academic Forum for the Study of Gambling and Greo Evidence Insights.

    – ref. How to outwit gambling adverts by ‘inoculating’ people against them – https://theconversation.com/how-to-outwit-gambling-adverts-by-inoculating-people-against-them-247637

    MIL OSI – Global Reports –

    February 6, 2025

  • MIL-OSI China: Chinese premier meets with Kyrgyz president in Beijing

    Source: People’s Republic of China – State Council News

    BEIJING, Feb. 5 — Chinese Premier Li Qiang on Wednesday met with visiting Kyrgyz President Sadyr Japarov in Beijing.

    Noting that under the strategic guidance of the two heads of state, China-Kyrgyzstan relations have developed rapidly in recent years, Li also said that the foundation of mutual trust has been strengthened, bilateral cooperation upgraded, and friendly exchanges deeply rooted in the hearts of the two peoples.

    China is willing to work with Kyrgyzstan to implement the important consensus reached by the presidents of the two countries, firmly support each other on major issues concerning core interests, expand mutually beneficial cooperation in all respects, and better contribute to their respective modernization drives, Li said.

    Li added that China stands ready to enhance the synergy of development strategies with Kyrgyzstan, focus on high-quality Belt and Road cooperation, advance the construction of China-Kyrgyzstan-Uzbekistan railway and other connectivity projects, and create more new highlights of cooperation in fields such as mining, green energy, scientific and technological innovation.

    He further said that China will work closely with Kyrgyzstan in the United Nations and other multilateral mechanisms, strengthen the China-Central Asia mechanism, and steadily advance cooperation within the framework of the Shanghai Cooperation Organization — so as to inject more certainty into regional peace, stability and development.

    Japarov said Kyrgyzstan attaches great importance to the comprehensive strategic partnership for a new era with China, and is willing to further strengthen high-level exchanges with China, deepen cooperation concerning connectivity, agriculture, finance, mining, science and technology, tourism and people’s livelihood development, and strengthen youth and cultural exchanges between the two countries.

    Kyrgyzstan welcomes more Chinese enterprises to invest in Kyrgyzstan and will provide a safe and sound business environment for Chinese enterprises, Japarov added.

    MIL OSI China News –

    February 6, 2025

  • MIL-OSI Russia: Financial news: Complaints about misselling and imposition of additional services have decreased

    Translartion. Region: Russians Fedetion –

    Source: Central Bank of Russia –

    In 2024, the Bank of Russia received 338 thousand complaints from consumers of financial services and investors. People complained less about the imposition of additional services and misselling, more about cyber fraud and blocking of accounts and transfers.

    Thanks to the Bank of Russia’s behavioral supervision measures, complaints about the imposition of additional services when lending in banks decreased by 45.2% in 2024. This also affected the reduction in the number of complaints in consumer lending.

    In the microfinance organizations (MFO) segment, the number of complaints about imposition decreased by 2.1 times. In addition, people complained less often about inaccurate information in their credit history — by 38.7% and fraud — by 19.1%. In general, in 2024, the number of complaints about MFOs decreased by 22.1%.

    The number of misselling cases has decreased by more than 2 times. The downward trend began after the Bank of Russia was given the authority to suspend sales in 2023 that violated the rules for informing people.

    Complaints about insurers have decreased by 30%, mainly due to the fact that the procedure for challenging the bonus-malus coefficient (KBM) has changed. Previously, a significant share of all complaints about MTPL were template complaints about checking the coefficient. They were issued for a fee by intermediaries, although citizens can independently and free of charge correct the KBM. It can be found in the personal account on the website of the National Insurance Information System and there you can leave a request in case of disagreement with the value of the coefficient. By the end of the year, such template complaints practically ceased to be received by the Bank of Russia.

    Due to the fact that criminals are constantly inventing new ways to steal money, complaints about cyber fraud against banks have increased by 1.8 times. To solve this problem, the regulator has ordered that bank cards and access to online banking be blocked for citizens who are engaged in the withdrawal and cashing of stolen funds – droppering. Banks must also suspend for two dayssuspicious transfers. However, this measure had a negative impact on the dynamics of complaints, because the number of requests related to banks blocking transfers and accounts increased by 2.2 times. At the same time, for most requests, banks confirmed that such accounts were used to deceive people.

    “The good news this year is that complaints about imposition and misselling continue to decrease, which means that credit and microfinance organizations are becoming more customer-oriented. But, as is usually the case, there is also not so good news – this is, of course, an increase in complaints about fraud. We are taking additional measures to combat it. Starting from March 1, 2025, every citizen will be able to set a ban on concluding consumer credit (loan) agreements with banks and microfinance organizations in their credit history on the State Services portal. From September 1, the service will be available in the MFC. This will allow a person to protect themselves from a situation where fraudsters issue a loan in their name or when a person acts under their influence,” said Mikhail Mamuta, Head of the Service for the Protection of Consumer Rights and Ensuring the Availability of Financial Services of the Bank of Russia.

    Preview photo: 9dream studio / Shutterstock / Fotodom

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

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

    HTTPS: //VVV.KBR.ru/Press/Event/? ID = 23343

    MIL OSI Russia News –

    February 6, 2025

  • MIL-OSI Russia: Marat Khusnullin discussed the development of the region with the Governor of the Samara Region Vyacheslav Fedorishchev

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Marat Khusnullin held a working meeting with the Governor of the Samara Region Vyacheslav Fedorishchev

    February 5, 2025

    Marat Khusnullin held a working meeting with the Governor of the Samara Region Vyacheslav Fedorishchev

    February 5, 2025

    Marat Khusnullin held a working meeting with the Governor of the Samara Region Vyacheslav Fedorishchev

    February 5, 2025

    Previous news Next news

    Marat Khusnullin held a working meeting with the Governor of the Samara Region Vyacheslav Fedorishchev

    Deputy Prime Minister Marat Khusnullin held a working meeting with the Governor of the Samara Region Vyacheslav Fedorishchev, at which issues of the region’s socio-economic development were discussed.

    “The region is developing systematically in various directions, including the region showing good results in construction. The implementation of integrated development projects for territories with an urban development potential of 1 million square meters of housing has begun. Large-scale road projects are being implemented. Thus, in July last year, the President opened traffic on the bypass of the city of Tolyatti with a bridge across the Volga. This road is part of the international corridor Europe – Western China. In addition, we are upgrading public transport. Due to federal support measures, 306 buses and 22 trolleybuses have been delivered to the Samara Region since 2020,” said Marat Khusnullin.

    The meeting also discussed the progress of the construction of the Teatralnaya metro station, for which an infrastructure budget loan was allocated. The Deputy Prime Minister noted the importance of this project for increasing the mobility of residents and the overall comprehensive development of Samara.

    “The Tolyatti bypass has significantly relieved the road on the Zhigulevskaya hydroelectric power station dam from traffic congestion and is globally helping the export, industrial, logistics and tourism potential of the region. The opening of the new highway is a long-awaited event for residents of the Samara-Tolyatti agglomeration. But a number of financial issues remain. Regional expenses for the concession fee, compensation for costs associated with the rise in the cost of the facility, and the return of the attracted infrastructure budget loan will amount to more than 91.5 billion rubles in the period from 2024 to 2037, with the majority of them, in the amount of 59 billion rubles, falling on the first 5 years of operation of the facility. Today we considered the possibility of allocating up to 10 billion rubles annually from the federal budget to the budget of the Samara Region from 2025 to 2031 for the implementation of the project to build a bypass of Tolyatti with a bridge crossing over the Volga until the mandatory payments from the region are reduced to an acceptable level,” said the Governor of the Samara Region Vyacheslav Fedorishchev.

    The parties also discussed the region’s work within the framework of the new national project “Infrastructure for Life”.

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

    MIL OSI Russia News –

    February 6, 2025

  • MIL-OSI Europe: ​The EBA issues an Opinion in response to the European Commission’s proposed amendments to the EBA draft technical standards on conflicts of interests for issuers of asset-referenced tokens

    Source: European Banking Authority

    The draft RTS specify the requirements for policies and procedures on conflicts of interest for issuers of asset-referenced tokens (ARTs) under the Markets in Crypto-Assets Regulation (MiCAR). They aim at strengthening the management of conflicts of interest by issuers of ARTs and ensure convergence of requirements across the European Union.

    In developing the draft RTS, the EBA took into account recent reports of governance failures, specifically regarding failures to identify and manage effectively conflicts of interest, within the crypto-asset market globally, and to requirements applicable within the traditional EU financial sector addressed at mitigating conflicts of interest.

    Legal basis and background   

    This Opinion is based on Article 10(1) of Regulation (EU) No 1093/2010, which requires the EBA to submit its response in the form of an opinion to amendments to draft regulatory technical standards (RTS) proposed by the European Commission.  

    On 5 June 2024, the EBA submitted its final draft RTS to the EC and on 29 November 2024, the EC sent a letter to the EBA about its intention to endorse the RTS with amendments and submitted a modified version of the RTS. The opinion constitutes the EBA’s response to the EC.  

    MIL OSI Europe News –

    February 6, 2025

  • MIL-OSI: American Rebel CEO Andy Ross to Appear on ABC-TV Tampa Weekday Morning Show Morning Blend

    Source: GlobeNewswire (MIL-OSI)

    Appearance Scheduled to Air on Friday, February 7 Broadcast Between 10 – 11 am Eastern

    Nashville, TN, Feb. 05, 2025 (GLOBE NEWSWIRE) — American Rebel Holdings, Inc. (NASDAQ: AREB) (“American Rebel” or the “Company”), creator of American Rebel Beer (americanrebelbeer.com) and a designer, manufacturer, and marketer of branded safes, personal security and self-defense products and apparel (americanrebel.com), is excited to announce that its CEO Andy Ross will appear on the Friday, February 7 broadcast of Morning Blend (abcactionnews.com/morning-blend) on ABC Action News Tampa. Andy’s segment will appear between 10- 11 am Eastern Standard Time. Andy will promote the SCAG Power Equipment PRO Superstar Shootout (prosuperstarshootout.com) and his Saturday concert appearance on the American Rebel Beer stage near the starting line at the conclusion of racing, discuss the company’s sponsorship of Tony Stewart Racing’s Funny Car driven by Matt Hagan and the ongoing launch of American Rebel Beer.

    “The PRO Superstar Shootout is the Pro Bowl of the NHRA drag racing season,” said Andy Ross. “Last year’s debut event was a massive success and American Rebel and I are honored to participate. The PRO Superstar Shootout is a chance for the race teams to have some friendly competition and a dress rehearsal for the NHRA season. There’s nothing better than a weekend at the track, except a weekend at the track with an after party. I can’t wait to play my brand of country patriotic rock ‘n’ roll for these great fans.”

    “Coming to Florida to support the PRO Superstar Shootout and the Matt Hagan Dodge//SRT Hellcat American Rebel Light Funny Car is very important for American Rebel,” continued Andy Ross. “We recently had a launch party for American Rebel Beer in Nashville at Kid Rock’s bar on Broadway and Tony, Matt and some of the other Tony Stewart Racing Team folks came into town to support us…it meant the world to me and our company. It’s more than business, it’s family.”

    “I can’t wait to unleash the American Rebel Beer Funny Car with Andy Ross at Bradenton,” said Matt Hagan. “Andy and the American Rebel Beer Team are going full throttle as they launch a new premium domestic light beer. We’re proud to promote his brand and watch them expand into more states and bars nationwide. I’m honored to represent them and stand behind their bold American spirit.”

    “It’s always a good time when Andy plays a concert at the racetrack,” continued Matt Hagan. “He likes to rock and that suits us just fine.”

    About American Rebel Light Beer

    Produced in partnership with AlcSource, American Rebel Light Beer (americanrebelbeer.com) is a premium domestic light lager celebrated for its exceptional quality and patriotic values. It stands out as America’s Patriotic, God-Fearing, Constitution-Loving, National Anthem-Singing, Stand Your Ground Beer.

    American Rebel Light is a Premium Domestic Light Lager Beer – All Natural, Crisp, Clean and Bold Taste with a Lighter Feel. With approximately 100 calories, 3.2 carbohydrates, and 4.3% alcoholic content per 12 oz serving, American Rebel Light Beer delivers a lighter option for those who love great beer but prefer a more balanced lifestyle. It’s all natural with no added supplements and importantly does not use corn, rice, or other sweeteners typically found in mass produced beers.

    About Tony Stewart Racing (TSR) Nitro

    As tenacious as Stewart is in the cockpit of a racecar, he’s proven equally adept at providing cars and equipment for racing’s elite. The three-time NASCAR Cup Series champion can also list 31 owners’ titles to his resume, from NASCAR to USAC to the World of Outlaws Sprint Car Series. In 2023 Stewart earned his 31st owner title when Matt Hagan and the TSR Funny Car team earned the championship on November 11th. His team, Tony Stewart Racing, fields a powerhouse lineup in the NHRA Mission Foods Drag Racing Series with Tony in Top Fuel and Matt Hagan in Funny Car. After more than four decades of racing around in circles, Stewart has embarked on a straight and narrow path, albeit at more than 300 mph. For more information on TSR Nitro go to tsrnitro.com.

    About American Rebel Holdings, Inc.

    American Rebel Holdings, Inc. (NASDAQ: AREB) has operated primarily as a designer, manufacturer and marketer of branded safes and personal security and self-defense products and has recently transitioned into the beverage industry through the introduction of American Rebel Light Beer. The Company also designs and produces branded apparel and accessories. To learn more, visit www.americanrebel.com and www.americanrebelbeer.com. For investor information, visit www.americanrebel.com/investor-relations.

    American Rebel Holdings, Inc.
    info@americanrebel.com

    American Rebel Beverages, LLC
    Todd Porter, President
    tporter@americanrebelbeer.com

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB; AREBW) (the “Company,” “American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include benefits of marketing outreach efforts, actual placement timing and availability of American Rebel Beer, success and availability of the promotional activities, our ability to effectively execute our business plan, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2023. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

    Company Contact:
    tporter@americanrebelbeer.com
    info@americanrebel.com

    Attachment

    • American Rebel Holdings Inc

    The MIL Network –

    February 6, 2025

  • MIL-OSI: Willis appoints Stephen Kyriacou Head of Litigation and Contingent Risk Solutions in North America

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 05, 2025 (GLOBE NEWSWIRE) — Willis, a WTW business (Nasdaq: WTW), announced today that Stephen Kyriacou has been appointed Head of Litigation and Contingent Risk Solutions, and Senior Director of Transactional Solutions for North America. In this role, Kyriacou will develop and implement specialized insurance solutions for litigation and contingent risks, working closely with corporate, private equity, law firm, hedge fund, and litigation finance clients to design products that address complex litigation, intellectual property, and regulatory challenges.

    With over a decade of expertise in the legal and insurance industries, Kyriacou brings a wealth of knowledge in litigation and contingent risk solutions, most recently serving as Managing Director and Senior Lawyer in Aon’s Litigation Risk Group. There, he advised on litigation risks and structured customized insurance policies for clients across multiple industries. As the first insurance industry professional focused solely on the litigation and contingent risk insurance market, Kyriacou was instrumental in pioneering judgment preservation insurance, insurance-backed judgment monetization, and other creative solutions that have since become standard throughout the industry.

    Kyriacou is widely recognized as a respected leader in the market. He was named a Risk & Insurance “Power Broker” in 2022, 2023, and 2024. At WTW, he will focus on expanding the firm’s litigation and contingent risk solutions practice, structuring and placing customized risk transfer strategies, and building a leading technical risk solutions team. His appointment demonstrates WTW’s commitment to providing innovative litigation and contingent risk solutions to support clients with managing their complex exposures.

    “We are thrilled to welcome Stephen to the WTW team,” said Aartie Manansingh, Head of the Private Equity and Transaction Solutions (PETS) division at Willis. “Our team is committed to delivering comprehensive, bespoke solutions that drive better outcomes for clients, and Stephen’s expertise strengthens that position. His extensive knowledge ensures that clients have access to one of the most technical and experienced brokers in litigation and contingent risk solutions throughout the industry, helping them navigate complicated and unique risks with confidence.”

    Kyriacou holds a J.D. from the New York University School of Law, and is a member of the New York State Bar. He previously clerked for the Honorable Tanya S. Chutkan in the U.S. District Court for the District of Columbia, and previously served as a complex commercial litigator at Boies Schiller Flexner, representing clients in high-stakes litigation matters.

    About WTW

    At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk, and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce, and maximize performance.

    Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.
    Learn more at wtwco.com.

    Media Contact

    Douglas Menelly
    Douglas.Menelly@wtwco.com | +1 (516) 972 0380

    Arnelle Sullivan
    Arnelle.Sullivan@wtwco.com | +1 (718) 208-0474

    The MIL Network –

    February 6, 2025

  • MIL-OSI: Oxbridge / SurancePlus Selects Coinbase Prime to Support Strategic Investments in Digital Assets

    Source: GlobeNewswire (MIL-OSI)

    GRAND CAYMAN, Cayman Islands, Feb. 05, 2025 (GLOBE NEWSWIRE) — Oxbridge Re Holdings Limited (Nasdaq: OXBR) (“Oxbridge Re”), together with its subsidiary SurancePlus, is engaged in the tokenization of Real-World Assets (“RWAs”), initially with tokenized reinsurance securities, and in providing reinsurance solutions to property and casualty insurers in the Gulf Coast region of the United States, today announced it has selected Coinbase Prime to facilitate its investments in other digital assets as part of its investment strategy.

    Jay Madhu, CEO of Oxbridge, commented, “Our collaboration with Coinbase underscores our commitment to integrating cutting-edge blockchain solutions into our financial framework. By working with Coinbase, we are confident in our ability to securely manage digital assets while paving the way for new investment opportunities that align with our blockchain vision.”

    Ryan Ballantyne, Institutional Sales Manager of Coinbase, commented, “Oxbridge / SurancePlus’ decision to include Digital Assets as a treasury reserve asset underscores the increasing alignment between traditional finance and blockchain technology. We look forward to supporting their investments and innovative approach to integrating blockchain into real-world applications (RWAs). Selecting Coinbase Prime ensures a trusted and secure platform for buying and storing their Digital Assets.”

    Additional details regarding Oxbridge / SurancePlus strategic decision to include digital assets as part of its treasury can be seen here: oxbridgere.com/press-releases/

    About Oxbridge Re Holdings Limited 

    Oxbridge Re Holdings Limited (NASDAQ: OXBR, OXBRW) (“Oxbridge”) is headquartered in the Cayman Islands. The company offers tokenized Real-World Assets (“RWAs”) as tokenized reinsurance securities and reinsurance business solutions to property and casualty insurers, through its wholly owned subsidiaries SurancePlus Inc., Oxbridge Re NS, and Oxbridge Reinsurance Limited.

    Insurance businesses in the Gulf Coast region of the United States purchase property and casualty reinsurance through our licensed reinsurers Oxbridge Reinsurance Limited and Oxbridge Re NS.

    Our Web3-focused subsidiary, SurancePlus Inc. (“SurancePlus”), has developed the first “on-chain” reinsurance RWA of its kind to be sponsored by a subsidiary of a publicly traded company. By digitizing interests in reinsurance contracts as on-chain RWAs, SurancePlus has democratized the availability of reinsurance as an alternative investment to both U.S. and non-U.S. investors. 

    Company Contact:
    Oxbridge Re Holdings Limited
    Jay Madhu, CEO
    +1 345-749-7570
    jmadhu@oxbridgere.com

    Forward-Looking Statements

    This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. A detailed discussion of risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in the section entitled “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission (“SEC”) on 26th March 2024. The occurrence of any of these risks and uncertainties could have a material adverse effect on the Company’s business, financial condition and results of operations. Any forward-looking statements made in this press release speak only as of the date of this press release and, except as required by law, the Company undertakes no obligation to update any forward-looking statement contained in this press release, even if the Company’s expectations or any related events, conditions or circumstances change.

    The MIL Network –

    February 6, 2025

  • MIL-OSI: Alice Group USA Announces Acquisition Strategy and Transformation of TFLM

    Source: GlobeNewswire (MIL-OSI)

    WEST HOLLYWOOD, Calif., Feb. 05, 2025 (GLOBE NEWSWIRE) — Alice Group USA, LLC announces the acquisition of the controlling shareholder block of Tofla Megaline Inc. (OTCQB: TFLM) as the first major step in the capitalization of its ambitious strategy to transform TFLM into a real estate, financial services, and tech group aimed at improving inclusion, asset ownership, and access to technology for entrepreneurs, startups, and business owners in the United States. TFLM’s development strategy will include providing co-working spaces, financial services, and IT support, including AI-driven office solutions.

    In the coming weeks, Alice Group USA intends to bring on a world-class management team with deep expertise in AI, technology development, and real estate. This new leadership team, is expected to have a robust background in artificial intelligence, machine learning, and innovative financial technologies, with the goal of providing a significant core advantage to Alice in executing its transformative business plan.

    The integration of AI-driven solutions across the real estate and financial platforms with the goal of enabling TFLM to streamline operations, enhance data-driven decision-making, and drive unparalleled value for entrepreneurs, startups, and underserved communities. The team’s technological expertise will be utilized in driving TFLM’s growth, improving efficiency, and expanding market opportunities within the emerging AI and real estate sectors. This strong technological foundation positions TFLM to be a leader in the next generation of AI-powered financial services and real estate management.

    As the first stage of its strategic development, TFLM is seeking to acquire equity interests in Nexus Workspaces, a leading coworking brand in Florida and Georgia. The assets to be acquired, in a series of transactions subject to entering definitive agreements and various closing convictions, include:

    • Nexus’s proprietary technology, designed to streamline commercial property management, enhance operational efficiency, and automate workspace and support solutions for use within the Nexus workspaces. This acquisition will enable TFLM to develop additional suites of services for growing entrepreneurs, start-ups, and minority businesses, including the provision of financial products and venture capital.
    • The acquisition of Boundary Midtown Atlanta, a Class A office portfolio strategically located in Midtown Atlanta. The $75 million asset features a 75%+ occupancy rate and is expected to generate consistent income while allowing TFLM to repurpose select vacancies for Nexus-branded operations.
    • The acquisition of five additional commercial office properties under the Nexus Workspaces brand, covering 251,622 square feet across Florida and Atlanta. With 90% occupancy and over 800 tenants, this portfolio offers a prime opportunity for revenue growth through AI-enhanced commercial real estate management.

    Upon completion of these acquisitions, TFLM will have acquired a diverse set of high-value real estate assets. TFLM has identified additional real estate assets and has begun negotiations to acquire and add to its real estate portfolio, with a focus on Florida and other targeted markets. It is the intent of these strategic acquisitions to further enhance TFLM’s long-term growth and operational capabilities, expanding its market presence and fostering sustained revenue generation.

    TFLM is seeking to become the U.S. operating company for a group of businesses aimed at democratizing capital access and enhancing financial efficiency, especially for minority-owned businesses, real estate owners, and start-up companies. We are in advanced discussions with businesses in the U.S. involved in neo-banking, provision of AI-enhanced services, and investment risk assessment to complete a powerful and compelling suite of products that will harness the power of American entrepreneurialism while providing investors with the security derived from a grounding in the long-term growth and stable cash flow of prime real estate holdings.

    Alice Group USA believes that the suite of products being developed and acquired by TFLM will have international application, and has hired Brigg Macadam Capital, an international corporate finance firm with a track record of providing access to capital for companies’ global business objectives. Tim Murray, CEO of Brigg Macadam Capital, commented:

    “We are incredibly excited to work with Alice Group USA and TFLM. By merging AI-driven financial services with strategic real estate acquisitions, Alice’s management team is seeking to build a next-generation ecosystem that has huge relevance in international markets.”

    About Alice Group USA, LLC

    Alice Group USA is an innovative investment and technology firm specializing in AI-powered financial solutions, real estate acquisitions, and market-defining investment strategies. With a strong emphasis on capital access, wealth creation, and inclusive finance, the company is pioneering the future of AI-driven financial ecosystems.

    About TFLM (Tofla Megaline Inc.)

    TFLM is an OTCQB-listed public entity undergoing a strategic transformation which commenced with Alice Group USA’s acquiring its control position. By integrating high-value real estate, AI-driven solutions, and fintech innovations, TFLM is set to emerge as a leading diversified company.

    Cautionary Statement Regarding Forward Looking Statements 

    Forward-Looking Statements
    The discussions in this press release contain forward-looking statements reflecting our current expectations that involve risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “expect,” “plan,” “believe,” “seek,” “estimate,” and similar expressions are intended to identify forward-looking statements and relate to future periods. Forward-looking statements are statements that are not historical facts and speak only as of the date hereof. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions, or circumstances on which any such statement is based, except as required by law.

    Contact

    Alice Group USA

    info@alicegroup.ai

    The MIL Network –

    February 6, 2025

  • MIL-OSI: TransUnion Introduces TruVision Alternative Bank Risk Score to Help Lenders Better Assess Consumers with Limited Credit Histories

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Feb. 05, 2025 (GLOBE NEWSWIRE) — Despite a strong employment picture, some consumers are still struggling financially due to elevated inflation and higher than normal interest rates. The lowest income households (those earning less than $50,000) face another challenge, with only 35% indicating they have sufficient access to credit and lending products.i In an effort to provide lenders with a clearer picture of thin- or no- file consumers, including those who may not be gaining sufficient access to credit, TransUnion (NYSE: TRU) introduced today the TruVision Alternative Bank Risk Score.

    This score includes checking and banking data applicable to the short-term lending space and can be used to enhance lenders’ existing underwriting scores. It offers a more holistic view of a consumer’s financial behavior and enhances the accuracy of credit risk decisions. The TruVision Alternative Bank Risk Score is enabled by TransUnion’s OneTru™ solution enablement platform, which now houses the company’s short-term lending data.

    This solution evaluates a consumer’s banking activities to assist in predicting their future financial behavior, particularly their likelihood of defaulting on loans or other credit obligations. The score complements the existing suite of tools that TransUnion already provides to lenders to help them in determining credit risk. It can be used with existing risk scores or as a standalone tool for underwriting.

    “The addition of the TruVision Alternative Bank Risk Score to TransUnion’s existing Alternative Lending suite of credit risk scores offers lenders a deeper look at potential borrowers who may otherwise have no, or very limited, credit history, as well as subprime borrowers,” said Liz Pagel, senior vice president of consumer lending at TransUnion. “It can aid in improving the predictive power of risk models, helping to identify potential risks that might be missed when relying on a single data source.”

    In addition to helping lenders make more informed decisions, this score can potentially offer some consumers with limited credit histories an alternate pathway to credit, by providing a more comprehensive view of their financial behavior, identifying those creditworthy consumers who may lack a traditional credit history but demonstrate responsible banking behavior.

    A recent report from the Federal Deposit Insurance Corporation (FDIC) revealed that one in six households had no mainstream credit, and this percentage was significantly higher among lower-income households, those with a lower educational ceiling, and minority households. The report also indicated that those households without mainstream credit likely did not have a credit score with credit bureaus, making it that much harder to obtain credit moving forward.

    TransUnion’s Q4 2024 Consumer Pulse found that lower-income consumer households have a much more difficult time accessing credit.

    Lower Income Households Do Not Feel They Have Sufficient Access to Credit and Lending Products.

      Low (<$50K) Medium ($50-99K) High ($100k+)
    Have Sufficient Access 35% 64% 80%
    Neither Agree nor Disagree 31% 21% 11%
    Do Not Have Sufficient Access 34% 15% 8%

    Source: TransUnion Consumer Pulse, November 2024

    “TransUnion has long provided lenders with access to a wide range of tools, resources, and data with which informed lending decisions can be made,” said Jason Laky, executive vice president and head of financial services at TransUnion. “In this increasingly complex economic environment, many consumers, lower income or otherwise, are seeking credit with limited or non-existent traditional credit histories. The use of a broad suite of alternative credit data tools offers lenders a new and important tool in assessing risk among these consumers.”

    To learn more about how TransUnion gives lenders a Tru picture of consumers – helping them better assess creditworthiness and expand access to credit, click here.

    For consumers looking to learn more about how to build their credit, click here.

    About TransUnion (NYSE: TRU)

    TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.

    http://www.transunion.com/business

    i Q4 2024 TransUnion Consumer Pulse study

    Contact Dave Blumberg
      TransUnion
       
    E-mail david.blumberg@transunion.com
       
    Telephone 312-972-6646

    The MIL Network –

    February 6, 2025

  • MIL-OSI: Xsolis Ranked No. 1 Best in KLAS for Physician Advisory Services for Fourth Year

    Source: GlobeNewswire (MIL-OSI)

    FRANKLIN, Tenn., Feb. 05, 2025 (GLOBE NEWSWIRE) — Xsolis, an AI-driven technology company that reduces administrative waste by enabling collaboration between healthcare providers and payers, announced today a No. 1 ranking for Physician Advisory (PA) Services in the 2025 Best in KLAS awards.  This is the fourth year Xsolis has achieved first place in the category, which recognizes services that help organizations with their physician and utilization review. 

    “The education and knowledge of Xsolis’ PAs are unmatched,” said Cindy Neumany, senior vice president of clinical operations for population health at Hackensack Meridian Health, a leading not-for-profit health care organization with 18 hospitals and more than 500 patient care locations in New Jersey. “Xsolis’ AI and its flexible models for clients have been invaluable to meet our unique goals.”

    Hackensack Meridian Health has been an Xsolis customer since 2021. In 2024, Xsolis’ PA Services achieved a 71% peer-to-peer success rate for Hackensack Meridian Health.

    Xsolis’ PA Services consistently receives positive feedback from clients about its flexibility – offering comprehensive external services or by supplementing hospitals’ internal models with review and peer-to-peer coverage – its high-quality reviews, responsiveness and its consultative, partnership approach. Serving clients since 2016, the Xsolis PA Services team undergoes rigorous training to support these goals. When paired with the company’s technology platform, Dragonfly, Xsolis’ PA Services also stands apart for its data insights capabilities, helping customers identify trends and areas for further improvement.

    “Receiving Best in KLAS is one of the most rewarding honors our team can receive because it is based on provider feedback,” said Heather Bassett, M.D., Xsolis chief medical officer and head of physician advisor services. “We are honored that Xsolis’ people, processes, and technology have been recognized for the collective value they bring our clients as we navigate industry challenges together.”

    According to the Hospital Financial Management Association, hospitals and health systems struggle with cost containment due to staffing shortages and rising operational costs. A lack of integration between documentation and care delivery can lead to significant rework or denials, with dire financial consequences. Physician advisors play a critical role in creating more resiliency in today’s healthcare ecosystem due to their abilities to bridge the gap between clinical practice and administrative needs for hospitals.

    “Congratulations to the 2025 winners of the Best in KLAS awards! Winning a Best in KLAS award signifies a commitment to delivering outstanding value and innovation to healthcare providers and patients alike,” said Adam Gale, KLAS CEO. “It is my hope that these awards inspire the winners and other companies to reach new heights.”

    Xsolis has been leveraging human-in-the-loop AI practices to develop AI solutions that streamline medical necessity decision-making in healthcare for over a decade, improving level of care authorizations, length-of-stay management, and payer-provider alignment. Xsolis’ collaborative AI platform is used in more than 500 hospitals nationwide, with more than two-thirds having shared access with their networked health plans.

    To learn more about Xsolis’ Physician Advisor Services, click here. To learn more about Xsolis’ AI solutions, click here.

    To explore the full 2025 Best in KLAS Physician Advisory Services category, click here.  

    About Xsolis 

    Xsolis is an AI-driven technology company that reduces administrative waste by enabling collaboration between healthcare providers and payers. Dragonfly®, its AI-driven proprietary platform, is the first and only solution to use real-time predictive analytics to continuously assign an objective medical necessity score and assess the anticipated level of care for every patient, enabling more efficiency across the healthcare system. Xsolis is headquartered in Franklin, Tennessee. For more information, visit www.xsolis.com.
     
    About KLAS 

    KLAS helps healthcare providers make informed technology decisions by offering accurate, honest, and impartial vendor performance information. KLAS monitors vendor performance through interviewing thousands of healthcare providers representing healthcare organizations throughout the US and here and there across the globe. KLAS uses a simple methodology to ensure all data and ratings are accurate, honest and impartial to help create market moving moments. Learn more at klasresearch.com.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/186e7992-0295-4262-a390-11e79c0870f6

    The MIL Network –

    February 6, 2025

  • MIL-OSI: ChargeAfter Teams Up with Bread Financial to Offer Flexible Payment Options through its Embedded Lending Network

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 05, 2025 (GLOBE NEWSWIRE) —

    With the addition of Bread Pay® pay-over-time options to its network of lenders, ChargeAfter enables merchants to provide qualified customers with instant access to its installment programs.

    ChargeAfter, the embedded lending platform for point-of-sale financing, announced today it has added Bread Pay pay-over-time financing to its network of lenders. Bread Pay is offered through Bread Financial® (NYSE: BFH), a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions. This long-term agreement will enable merchants to offer their customers seamless access to Bread Pay’s suite of long- and short-term financing options through ChargeAfter’s platform. Johnson Health Tech is among the first of ChargeAfter’s merchant partners to offer Bread Pay through its platform, enabling shoppers to finance purchases of BowFlex, Schwinn Fitness, and Horizon Fitness products.

    ChargeAfter’s waterfall technology enables merchants to deliver instant access to financing choices for customers across the credit spectrum. This is especially crucial for retailers and service providers that sell big-ticket items such as home improvement, electronics, jewelry, furniture, home appliances, healthcare, and automotive. Bread Financial is offered to prime credit customers through the platform, with merchants providing fast and frictionless access to Bread Pay pay-over-time options at every point of sale. 

    “We know that some big-ticket purchases can be an important decision for many consumers, and we’re committed to helping merchants offer flexible financing options to customers to make those purchases as seamless and affordable as possible,” said Rick Cunningham, Senior Vice President of Strategy and Business Development at Bread Financial. “Our data shows consumers often choose a retailer based on their financing availability when purchasing these big ticket items*. By integrating Bread Pay at the point of sale through the ChargeAfter platform, we’re proud to empower consumers with greater choice and accessibility, taking the stress out of the purchasing process.”

    Meidad Sharon, CEO and founder of ChargeAfter added, “We are delighted that Bread Financial has joined our embedded lending network. The integration of Bread Pay products into our platform alongside a Bread Financial retail credit card offering enables merchants to seamlessly provide customers with a broader range of financing options. It is exciting to see merchants such as Johnson Health Tech enhance their prime financing offering with this product through ChargeAfter’s platform. As embedded lending becomes the new industry standard, ChargeAfter empowers merchants to deliver personalization and choices at every point of sale, providing an instant waterfall financing solution that benefits customers, merchants, and lenders alike.” 

    *From a Bread Financial proprietary survey published in 2023

    About ChargeAfter 
    ChargeAfter is pioneering the embedded lending network for point-of-sale consumer financing for merchants and financial institutions. Powered by a network of lenders and a data-driven matching engine, ChargeAfter streamlines the distribution of credit into a single, secure, and reliable embedded lending platform. Merchants can rapidly implement ChargeAfter’s omnichannel platform online, in-store, and at every point of sale, enabling them to provide personalized financing choices to their customers. 

    ChargeAfter is backed by payment expert investors including Visa, Citi Ventures, Synchrony Financial, Banco Bradesco, MUFG, PICO Venture Partners, Propel Venture Partners, and The Phoenix. ChargeAfter is headquartered in New York with an R&D center in Tel Aviv. Users can learn more at chargeafter.com.

    About Bread Financial® 
    Bread Financial® (NYSE: BFH) is a tech-forward financial services company that provides simple, personalized payment, lending, and saving solutions to millions of U.S. consumers. Our payment solutions, including Bread Financial general purpose credit cards and savings products, empower our customers and their passions for a better life. Additionally, we deliver growth for some of the most recognized brands in travel & entertainment, health & beauty, jewelry, and specialty apparel through our private label and co-brand credit cards and pay-over-time products providing choice and value to our shared customers. 

    To learn more about Bread Financial, its global associates, and its sustainability commitments, users can visit breadfinancial.com or follow them on Instagram and LinkedIn. 

    Contact

    Director of Marketing
    Varda Bachrach
    ChargeAfter
    varda.bachrach@chargeafter.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/89c2d85d-db29-4ec8-891e-f46e0c535c10

    The MIL Network –

    February 6, 2025

  • MIL-OSI Global: Nigeria’s Brics partnership: economist outlines potential benefits

    Source: The Conversation – Africa – By Stephen Onyeiwu, Professor of Economics & Business, Allegheny College

    During its 16th annual summit in Kazan, Russia, Brics – a group of emerging economies determined to act as a counterweight to the west and to whittle down the influence of global institutions – invited Nigeria and eight other countries to join it as “partner” countries. Nigeria formally accepted the invitation in January 2025. That invitation has generated questions about how Nigeria stands to benefit, especially when US president Donald Trump is threatening to sanction members of the group if they replace the US dollar as reserve currency. It was established in 2006 and initially composed of Brazil, Russia, India, and China. South Africa joined in 2010 and the bloc added four new members (Egypt, Ethiopia, Iran and the United Arab Emirates) in 2023. In this interview, development economist Stephen Onyeiwu argues that Nigeria stands to gain from a Brics partnership, but would have to carefully balance its domestic interests with those of its western allies and Brics.

    What does it mean to be a Brics ‘partner’ country?

    The introduction of Brics partnership is an expansion mechanism designed to bring in more participants without giving them full membership. It is akin to “observer” status.

    Brics partners can participate in special sessions of summits and foreign ministers’ meetings, as well as other high-level events. Partners can also contribute to the organisation’s official documents and policy statements.

    But partners cannot host annual Brics summits or determine the venue. Neither can they select new members and partners.

    How beneficial is Brics partnership to Nigeria?

    The main benefit would be access to finance offered by Brics’ New Development Bank.

    The New Development Bank was established as an alternative to western-dominated international financial institutions like the World Bank and International Monetary Fund. These institutions are sometimes used by the leading western countries to keep developing countries in line on global issues.

    Some developing countries are reluctant to criticise western countries for fear of losing access to funding by western-backed international financial institutions.

    Nigeria has been running a budget deficit of about 5% of GDP since 2019, and it needs funding to pay for the deficits. The New Development Bank could be an important source of funding for investment in Nigeria’s infrastructure, manufacturing, agriculture, and so on.

    New Development Bank loans are also available in member countries’ local currencies. They don’t have to earn foreign exchange to repay the loans. This fosters exchange rate stability and promotes economic growth. The New Development Bank raises funds in member countries’ local currencies, and lends them to member countries.

    Nigeria could use its Brics partnership to garner the group’s support in matters that affect Nigeria globally. For instance, there have been requests for African countries to be included as permanent members (without veto power) of the UN security council. South Africa and Nigeria have been touted as potential candidates. Should this issue be raised at the UN, Nigeria can count on the support of its Brics allies, which includes two permanent members (China and Russia) of the security council.

    Mutual understanding and cooperation with other Brics members and partners might spill over into economic, trade and investment agreements. Friendly countries are more likely to trade with each other and invest in each other’s economy.

    How can Nigeria maximise its status as a Brics partner?

    Nigeria should use it to attract foreign direct investment in strategic sectors of the economy, such as infrastructure, manufacturing, agriculture and technology.

    Some Brics members, like China, India, and the UAE, have investors that are seeking investment outlets abroad. Nigeria could use the bloc’s annual summits to showcase investment opportunities.

    The global economy is transitioning into “frontier industries and technologies”, such as big data, artificial intelligence, solar, drones, gene editing, 3D printing, blockchains, Internet of Things (IoT), 5G, robotics and nanotechnology. China, India and Brazil are already well advanced in these technologies.

    Nigeria should use its partnership with these countries to build capabilities in frontier industries and technologies. It could get favourable terms in the transfer of these technologies.

    Nigeria seeks to diversify its economy from reliance on the export of hydrocarbons. But Nigerian producers have had a hard time accessing global markets. The country should negotiate trade deals that provide access to Brics markets, especially agricultural and agro-processed products, arts and crafts.

    But Nigeria has to promote economic growth and structural transformation at home. If the Nigerian economy falters, it is unlikely the country will be invited to become a full member of Brics.

    Would adding new members and partners reduce western dominance?

    Brics has so far not been able to significantly change the dynamics of the international political economy. Adding new members and partners, while symbolic, will not act as an effective counterweight to the influence of the G7 and G20 groups of nations.

    Most of the countries and partners in Brics are either allies of western countries or neutral on global issues. They are unlikely to support decisions or actions that are grossly inimical to western interests.

    Egypt and the UAE, for instance, receive military aid from the United States. Ethiopia and Nigeria are top recipients of foreign aid in Africa, much of it from western-backed financial institutions.

    The only outlier in the mix is Iran, whose membership was promoted by Russia. But Iran has no leverage to influence others in the bloc.

    On balance, therefore, Brics will not be a threat to western countries.

    Brics aspires to weaken the dominance of the US dollar for international transactions. Close to 90% of international trade transactions are conducted with the US dollar.

    Brics countries plan to reduce dollar dominance by encouraging member countries to settle their trade and financial transactions using their domestic currencies. For instance, South African businesses could purchase Chinese goods using the South African rand, while the Chinese could do the same for South African goods using the Chinese yuan. The more members you have in Brics swapping their currencies, the less important the US dollar will be.

    It is unlikely, however, that an increase in the number of Brics members and partners will weaken the dollar. Most will continue to have significant economic relationships with the west, including trade and foreign aid.

    They will also continue to conduct business with many non-Brics countries, which also have economic relationships with the west. They will need the US dollar to transact with many other countries.

    So increasing the number of Brics members and partners does not pose a threat to dollar dominance.

    Stephen Onyeiwu 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. Nigeria’s Brics partnership: economist outlines potential benefits – https://theconversation.com/nigerias-brics-partnership-economist-outlines-potential-benefits-248943

    MIL OSI – Global Reports –

    February 6, 2025

  • MIL-OSI Global: As Trump tries to slash US foreign aid, here are 3 common myths many Americans mistakenly believe about it

    Source: The Conversation – USA – By Joannie Tremblay-Boire, Assistant Professor of Public Policy, University of Maryland

    U.S. lawmakers and employees and supporters of the U.S. Agency for International Development speak outside the agency’s headquarters on Feb. 3, 2025. Kevin Dietsch/Getty Images

    U.S. foreign aid is in disarray.

    The Trump administration froze most aid disbursements on Jan. 20. According to billionaire Elon Musk, an adviser to President Donald Trump with “special government employee status,” the U.S. Agency for International Development, widely known as USAID, had been shut down as of Feb. 3, 2025.

    Although the Trump administration lacks the legal authority to do this, hundreds of people on the agency’s staff have been put on unpaid leave or fired, according to news reports.

    And the agency’s official website wasn’t working. A partial replacement, however, had appeared within the State Department’s website.

    I’m a scholar of public policy who researches nonprofits, which in the foreign aid sphere are often called nongovernmental organizations. These groups are responsible for carrying out many programs funded by foreign aid from governments such as the United States.

    In light of the Trump administration’s attack on the government’s main foreign aid agency and the disruption of this funding, I believe it’s important to debunk three common myths:

    1. The U.S. spends too much on foreign aid.
    2. The U.S. spends more than its fair share on foreign aid compared with other countries.
    3. Corrupt governments squander U.S. foreign aid.

    What is foreign aid?

    Foreign aid consists of money, goods and services – such as training – that government agencies provide to other countries. Foreign aid falls into two broad categories: economic assistance and military – sometimes called security – aid.

    Economic assistance includes all programs with development or humanitarian objectives. That tends to include projects related to health, disaster relief, the promotion of civil society, agriculture and the like. Most U.S. economic aid dollars come from the State Department budget, including spending allocated by USAID, which has operated as an independent agency since the Kennedy administration.

    On Feb. 3, Secretary of State Marco Rubio declared that he was serving as USAID’s acting director, indicating that the agency was no longer independent of the State Department.

    While U.S. taxpayers have long spent just a few bucks each on foreign aid every year, the impact is profound, saving millions of people from hunger, averting the worst of natural disasters such as droughts and flooding, tackling life-threatening diseases such as tuberculosis and malaria, and more.

    Myth No. 1: US spends too much on foreign aid

    The United States consistently spends only about 1% of its budget on foreign aid, including military and economic support. The 2023 aid managed by USAID totaled about US$40 billion.

    Americans tend to believe that their government spends a far bigger share of its budget on foreign aid than it does.

    In a survey the Kaiser Family Foundation conducted in 2015, it found that, on average, Americans believed that foreign aid accounts for nearly one-third of the budget. Only 3% of those polled answered correctly that foreign aid constituted 1% or less of total federal spending.

    Myth No. 2: US spends more than its fair share

    According to the Organization for Economic Cooperation and Development, the United States is by far the leading national source of economic assistance dollars. In 2023, it contributed $64.7 billion in overseas development assistance, far outpacing the $37.9 billion spent by Germany, the second-biggest source of that kind of aid. Some of this assistance is managed by USAID, some by the Department of State, and a small portion by other government agencies, such as the Treasury and Health and Human Services departments.

    That tells only part of the story, however. The United States spends very little on foreign aid relative to the size of its economy, particularly compared with other rich countries. The U.S. spent about 0.24% of its gross national income on overseas development assistance in 2023. By comparison, Norway, the top contributor by this metric, gave 1.09% of its gross national income in overseas development aid that year. The United States ranks toward the bottom of OECD countries, close to Portugal and Spain, by this measurement.

    In 1970, the United Nations General Assembly agreed that “economically advanced countries” would aim to direct at least 0.7% of their national income to overseas development assistance. Although developed countries have repeatedly mentioned this target in agreements and at summits since then, very few countries have reached that goal. In 2023, only five countries met the 0.7% target.

    The OECD average was just 0.37% in 2023 – far higher than the 0.24% the U.S. provided that year.

    Myth No. 3: Corrupt governments squander US aid

    You may think that foreign aid consists of government-to-government transfers of money. But governments channel most aid through nonprofits such as Catholic Relief Services, public-private partnerships, private companies such as Chemonics International and Deloitte, and multilateral organizations such as the United Nations and the World Bank.

    In fact, according to the Congressional Research Service, between 2013 and 2022, most U.S. foreign assistance bypassed governments altogether: NGOs received 24% of the money, for-profit companies 21%, multilateral organizations 34%, and other organizations, such as universities, research institutes and faith-based organizations, 7%.

    When the political scientist Simone Dietrich researched this question, she found that the United States outsources a lot of its foreign aid to NGOs. This is especially the case with the support it provides countries with bad governance and rampant corruption such as Sudan and Sri Lanka, which could be likely to squander or swipe those funds.

    To be sure, corrupt governments sometimes do squander U.S. foreign aid. But it is important to understand that most aid never enters the coffers of those corrupt governments in the first place.

    Even without Trump’s proposed cuts, US fails to lead

    Even if Trump fails at his current bid to greatly reduce foreign aid spending, other countries, including the United Kingdom and Denmark, are spending far more on economic assistance for the world’s poorest people, as a share of their economies, than the U.S. does.

    Slashing foreign aid would damage U.S. credibility with American allies, reduce U.S. influence around the globe and – as a group of more than 120 retired generals and admirals predicted when Trump tried to slash foreign aid in his first administration – make Americans less safe.

    Parts of this article appeared in a story first published on April 6, 2017, and have been updated.

    Joannie Tremblay-Boire does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. As Trump tries to slash US foreign aid, here are 3 common myths many Americans mistakenly believe about it – https://theconversation.com/as-trump-tries-to-slash-us-foreign-aid-here-are-3-common-myths-many-americans-mistakenly-believe-about-it-248979

    MIL OSI – Global Reports –

    February 6, 2025

  • MIL-OSI Africa: Nigeria’s Brics partnership: economist outlines potential benefits

    Source: The Conversation – Africa – By Stephen Onyeiwu, Professor of Economics & Business, Allegheny College

    During its 16th annual summit in Kazan, Russia, Brics – a group of emerging economies determined to act as a counterweight to the west and to whittle down the influence of global institutions – invited Nigeria and eight other countries to join it as “partner” countries. Nigeria formally accepted the invitation in January 2025. That invitation has generated questions about how Nigeria stands to benefit, especially when US president Donald Trump is threatening to sanction members of the group if they replace the US dollar as reserve currency. It was established in 2006 and initially composed of Brazil, Russia, India, and China. South Africa joined in 2010 and the bloc added four new members (Egypt, Ethiopia, Iran and the United Arab Emirates) in 2023. In this interview, development economist Stephen Onyeiwu argues that Nigeria stands to gain from a Brics partnership, but would have to carefully balance its domestic interests with those of its western allies and Brics.

    What does it mean to be a Brics ‘partner’ country?

    The introduction of Brics partnership is an expansion mechanism designed to bring in more participants without giving them full membership. It is akin to “observer” status.

    Brics partners can participate in special sessions of summits and foreign ministers’ meetings, as well as other high-level events. Partners can also contribute to the organisation’s official documents and policy statements.

    But partners cannot host annual Brics summits or determine the venue. Neither can they select new members and partners.

    How beneficial is Brics partnership to Nigeria?

    The main benefit would be access to finance offered by Brics’ New Development Bank.

    The New Development Bank was established as an alternative to western-dominated international financial institutions like the World Bank and International Monetary Fund. These institutions are sometimes used by the leading western countries to keep developing countries in line on global issues.

    Some developing countries are reluctant to criticise western countries for fear of losing access to funding by western-backed international financial institutions.

    Nigeria has been running a budget deficit of about 5% of GDP since 2019, and it needs funding to pay for the deficits. The New Development Bank could be an important source of funding for investment in Nigeria’s infrastructure, manufacturing, agriculture, and so on.

    New Development Bank loans are also available in member countries’ local currencies. They don’t have to earn foreign exchange to repay the loans. This fosters exchange rate stability and promotes economic growth. The New Development Bank raises funds in member countries’ local currencies, and lends them to member countries.

    Nigeria could use its Brics partnership to garner the group’s support in matters that affect Nigeria globally. For instance, there have been requests for African countries to be included as permanent members (without veto power) of the UN security council. South Africa and Nigeria have been touted as potential candidates. Should this issue be raised at the UN, Nigeria can count on the support of its Brics allies, which includes two permanent members (China and Russia) of the security council.

    Mutual understanding and cooperation with other Brics members and partners might spill over into economic, trade and investment agreements. Friendly countries are more likely to trade with each other and invest in each other’s economy.

    How can Nigeria maximise its status as a Brics partner?

    Nigeria should use it to attract foreign direct investment in strategic sectors of the economy, such as infrastructure, manufacturing, agriculture and technology.

    Some Brics members, like China, India, and the UAE, have investors that are seeking investment outlets abroad. Nigeria could use the bloc’s annual summits to showcase investment opportunities.

    The global economy is transitioning into “frontier industries and technologies”, such as big data, artificial intelligence, solar, drones, gene editing, 3D printing, blockchains, Internet of Things (IoT), 5G, robotics and nanotechnology. China, India and Brazil are already well advanced in these technologies.

    Nigeria should use its partnership with these countries to build capabilities in frontier industries and technologies. It could get favourable terms in the transfer of these technologies.

    Nigeria seeks to diversify its economy from reliance on the export of hydrocarbons. But Nigerian producers have had a hard time accessing global markets. The country should negotiate trade deals that provide access to Brics markets, especially agricultural and agro-processed products, arts and crafts.

    But Nigeria has to promote economic growth and structural transformation at home. If the Nigerian economy falters, it is unlikely the country will be invited to become a full member of Brics.

    Would adding new members and partners reduce western dominance?

    Brics has so far not been able to significantly change the dynamics of the international political economy. Adding new members and partners, while symbolic, will not act as an effective counterweight to the influence of the G7 and G20 groups of nations.

    Most of the countries and partners in Brics are either allies of western countries or neutral on global issues. They are unlikely to support decisions or actions that are grossly inimical to western interests.

    Egypt and the UAE, for instance, receive military aid from the United States. Ethiopia and Nigeria are top recipients of foreign aid in Africa, much of it from western-backed financial institutions.

    The only outlier in the mix is Iran, whose membership was promoted by Russia. But Iran has no leverage to influence others in the bloc.

    On balance, therefore, Brics will not be a threat to western countries.

    Brics aspires to weaken the dominance of the US dollar for international transactions. Close to 90% of international trade transactions are conducted with the US dollar.

    Brics countries plan to reduce dollar dominance by encouraging member countries to settle their trade and financial transactions using their domestic currencies. For instance, South African businesses could purchase Chinese goods using the South African rand, while the Chinese could do the same for South African goods using the Chinese yuan. The more members you have in Brics swapping their currencies, the less important the US dollar will be.

    It is unlikely, however, that an increase in the number of Brics members and partners will weaken the dollar. Most will continue to have significant economic relationships with the west, including trade and foreign aid.

    They will also continue to conduct business with many non-Brics countries, which also have economic relationships with the west. They will need the US dollar to transact with many other countries.

    So increasing the number of Brics members and partners does not pose a threat to dollar dominance.

    – Nigeria’s Brics partnership: economist outlines potential benefits
    – https://theconversation.com/nigerias-brics-partnership-economist-outlines-potential-benefits-248943

    MIL OSI Africa –

    February 6, 2025

  • MIL-OSI Russia: Financial news: Fraudsters withdraw money from ATMs without people’s plastic cards

    Translartion. Region: Russians Fedetion –

    Source: Central Bank of Russia (2) –

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

    Categoris24-7, Central Bank of OF Russia, Miles, Russians Banks, Russians savings, Russians finance, Russians Language, Russian economy, Russian banks

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    Fraudsters call citizens, including via messengers, and claim that unknown persons are trying to steal money from their account. To prevent the loss of savings, fraudsters convince a person to immediately install on their phone a supposedly mobile application of the Central Bank (the names may vary). Moreover, while it is being installed, they prohibit using the device.

    After this, the attackers ask the victim to launch the installed application, bring their card to their mobile phone and enter a confirmation SMS code from the bank, supposedly to authorize in the regulator’s application and save money in the account. In fact, the program downloaded to the person’s smartphone is malicious.

    It allows the fraudsters to create a virtual image of the victim’s bank card on the phone. As a result, the attackers can use this virtual image to withdraw money from ATMs that support contactless technology: instead of a bank card, they put their smartphone on the device.

    Do not download any mobile applications or programs at the request of strangers, and do not perform any actions in banking or other applications at their request.

    Do not disclose personal or financial information to strangers, no matter what pretext or method they use to obtain it.

    If you have any doubts about the safety of your money in your bank account, immediately call your bank at the number listed on its official website or on the back of your bank card.

    MIL OSI Russia News –

    February 6, 2025

  • MIL-OSI Russia: Financial news: New rules for admission of credit consumer cooperatives to the financial market are being introduced

    Translartion. Region: Russians Fedetion –

    Source: Central Bank of Russia –

    The new rules are intended to increase the level of transparency of credit consumer cooperatives (CCCs) for their participants. The changes to the Law “On Credit Cooperatives” come into force on February 5, 2025.

    Until now, the Bank of Russia has been conducting state CPC registrybased on data from the unified state register of legal entities. Now information will be entered into the CPC register only after the cooperative’s documents have been reviewed by a self-regulatory organization in the financial market or the Bank of Russia (depending on the level of the CPC).

    Regulator installed the procedure for maintaining the register of credit unions and sending documents for entering information into the register. An assessment of the organization’s managers’ compliance with qualification requirements and business reputation requirements will also be conducted.

    More detailed information on the procedures for admission to the financial market of credit unions can be found here on the website Bank of Russia.

    Preview photo: Pratiwi Ambarwati / Shutterstock / Fotodom

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

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

    HTTPS: //VVV.KBR.ru/Press/Event/? ID = 23341

    MIL OSI Russia News –

    February 6, 2025

  • MIL-OSI United Kingdom: Fairer funding for charities

    Source: Scottish Government

    More than £60 million for pilot projects focusing on essential services and eradicating child poverty.

    A new Fairer Funding pilot to deliver on the Scottish Government’s top priority of eradicating child poverty will provide additional multi-year funding in the form of 45 grants to organisations across Scotland.

    The funding, subject to budget approval, will support projects in areas including health, education, poverty and culture and have a total value of £61.7 million in 2025-26 and £63.2 million in 2026- 27.

    Speaking on her visit today to the Gathering, the largest third sector event in the UK, Social Justice Secretary Shirley-Anne Somerville said:

    “I know many charities, faced with rising costs and falling donations, need more security and stability to enable them to plan and develop. Child poverty, in particular, requires longer-term interventions to help achieve the solutions we want to see. For that, the third sector needs financial stability and certainty. That’s why I have prioritised delivering on our commitment to provide more multi-year funding where we can to support the vital work of the third sector in Scotland, as part of our fairer funding approach.

    “The pilot is the first step in mainstreaming multi-year funding agreements more widely across the third sector. It will give organisations the ability to plan for the future and make the most of their resources. The pilot’s focus on grants connected to tackling child poverty and the delivery of frontline services to our communities will maximise the impact of longer term funding and support the delivery of our number one priority, eradicating child poverty.”  

    Scottish Council for Voluntary Organisations (SCVO) Chief Executive Anna Fowlie said:

    “The voluntary sector has a crucial role to play in delivering essential services across Scotland that people and communities rely on. Multi-year funding models are vital, providing security to voluntary organisations and, crucially, allowing them to get on and deliver for people and communities.

     “We welcome the Scottish Government’s commitment to piloting multi-year funding for a range of voluntary organisations across Scotland – a first step, we hope, towards rolling out Fair Funding principles to voluntary sector funding.”

    Background

    Organisations to receive multi-year funding for 2025/26 and 2026/27

    Social Justice

    Scottish Refugee Council

    Scottish Empty Homes Partnership

    Homeless Network Scotland

    Housing Options Scotland

    Poverty Alliance

    CentreStage – Social Innovation Partnership

    COVEY – Social Innovation Partnership

    Flexibility Works – Social Innovation Partnership

    Heavy Sound – Social Innovation Partnership

    MsMissMrs – Social Innovation Partnership

    Street Soccer – Social Innovation Partnership

    WorkingRite – Social Innovation Partnership

    MCR Pathways

    Economy and Gaelic

    Scottish Mountain Rescue

    Constitution, External Affairs and Culture

    Youth Music Initiative

    Sistema Scotland

    Health and Social Care

    Cruse Scotland Bereavement Helpline

    Penumbra Self-harm support pilots

    BASICS Funding PHEC BASICS Scotland

    The Listening Service Samaritans

    Communities Mental Health and Wellbeing Fund for adults

    Communities Mental Health and Wellbeing Fund Management

    Autism Advice Line Scottish Autism

    Young Scot Carer support funding

    Active Play Development Programme Inspiring Scotland

    Active Play Development Programme Actify

    Community Food Networks Edinburgh Community Food

    Community Food Networks Lanarkshire Community Food and Health Partnership

    Community Food Networks Community Food Initiative North East

    Community Food Networks Glasgow Community Food Network

    Drugs Policy: Core Funding Scottish Families Affected by Alcohol and Drugs

    Drugs Policy: Family Recovery Initiative Fund Scottish Families Affected by Alcohol and Drugs

    Fetal Alcohol Spectrum Disorder FASD Hub Scotland Service 

    Finance and Local Government

    Planning Aid Scotland

    Education and Skills

    Dyslexia Scotland

    Children’s Advocacy for Children’s Hearings

    Who Cares Scotland

    Inspiring Scotland

    Children in Scotland Enquire National Advice and Information Service on Additional Support for Learning

    Scottish Book Trust Bookbug

    Access to Childcare Fund

    Scottish Association of Minority Ethnic Educators

    Justice and Home Affairs

    Victim Centred Approach Fund

    Apex Scotland

    Medics Against Violence

    These pilots are in addition to the multi-year funding announced last week by Creative Scotland, which has been funded as part of a record £34 million uplift for culture in the draft 2025-26 Scottish Budget.

    MIL OSI United Kingdom –

    February 6, 2025
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