NewzIntel.com

Category: Economy

  • MIL-OSI Africa: SA’s G20 Presidency should focus on humanity’s most pressing challenges, says UN Resident Coordinator

    Source: South Africa News Agency

    As South Africa’s Group of 20 (G20) Presidency approaches its final six months, the focus should be on fostering multilateral cooperation and finding collective solutions to humanity’s most pressing challenges. 

    According to the United Nations (UN) Resident Coordinator in South Africa, Nelson Muffuh, the world’s major economies should aim to develop innovative approaches to complex global issues related to poverty, unemployment, and sustainable development.

    “The countries that carry the economy of the world must come together and find each other and resolve some of the challenges. 

    “They need to agree on some of the common solutions they can advance to resolve issues of inequalities, poverty, unemployment, governance, and trade. So, I think group, which is often referred to as a ‘ginger group’, is really an important platform as part of the wider multilateral system which the UN embodies.” 

    Muffuh was speaking to SAnews during the third Sherpa meeting of the G20, which began on Wednesday.

    The Sun City Convention Centre in the North West was filled with representatives from the world’s largest economies and organisations as Zane Dangor, the Director-General of the Department of International Relations and Cooperation and South Africa’s G20 Sherpa, delivered his opening remarks.

    Muffuh believes that South Africa’s G20 Presidency is making significant progress in addressing global challenges, with an emphasis on promoting solidarity, equality, and sustainability. 

    Halfway through its Presidency, the country has already held 70 out of a planned 132 meetings across various working groups, focusing on critical issues affecting the international community.

    “So, we need to look at where we’re with regards to the momentum towards achieving some of the envisaged outcomes around reform of the international financial architecture, capitalisation of the multilateral development banks, financing for the SDGs [Sustainable Developmental Goals] and financing for climate action, Just Energy Transition, the tackling of inequalities. A lot of these issues have been discussed extensively,” he told SAnews. 

    According to the UN official, the Presidency should strengthen multilateral cooperation as global tensions hinder collective progress.

    “We’re not on track to achieve the outcomes of the Sustainable Development Goals, for example. So, I think the focus really should be on ensuring we do not lose track, despite the concerns, despite the intentions to still find ways of coming together, find each other, and common ground to make progress.”

    A central theme emerging from meetings is the urgent need to overcome geopolitical divisions and work collaboratively on pressing global challenges. 

    Despite ongoing tensions, including notable absences like the United States, Muffuh said the G20 remains committed to creating a platform for constructive dialogue and finding common solutions.

    He believes that the upcoming international gatherings, such as the Financing for Development Conference, the 30th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP30 Summit), and the UN General Assembly, will create additional opportunities to enhance the G20’s collaborative efforts and advocate for meaningful global progress. – SAnews.gov.za
     

    MIL OSI Africa –

  • MIL-OSI China: China’s vice premier calls for expanding domestic demand, promoting high-quality economic development

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

    China’s vice premier calls for expanding domestic demand, promoting high-quality economic development

    SHIJIAZHUANG, June 25 — Chinese Vice Premier He Lifeng has called for efforts to accelerate the establishment of a unified national market, expand domestic demand to boost consumption, accelerate the construction of a new model for real estate development, and develop new quality productive forces based on local conditions to promote high-quality economic development.

    He, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks during an inspection tour in north China’s Hebei Province that began on Monday and ended on Tuesday.

    Since the beginning of this year, China’s economy has maintained a positive trend despite challenges, leading to rising social confidence, He said.

    He urged efforts to implement the country’s trade-in policy for bulk durable consumer goods and to stabilize market expectations, calling on relevant cities to integrate consumer goods trade-in initiatives with urban renewal actions based on local conditions, with the aim of unlocking consumption potential further.

    He emphasized the importance of advancing a new model for real estate development, of maintaining steady growth while enhancing quality in foreign trade production, of guarding against risks in small and medium-scale local financial institutions, and of driving the innovative development of enterprises focusing on high-end equipment manufacturing, intelligent photovoltaics, clean energy and new materials.

    He instructed relevant authorities and local governments to undertake in-depth investigations and research, actively explore innovation, study and resolve practical problems faced by enterprises promptly, respond effectively to the impact of external shocks, and achieve all economic work goals for the first half of the year and the whole year to advance high-quality economic development.

    MIL OSI China News –

  • MIL-OSI China: Chinese premier exchanges ideas with entrepreneurs at Summer Davos

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

    TIANJIN, June 25 — Chinese Premier Li Qiang attended a symposium at the 16th Annual Meeting of the New Champions, also known as Summer Davos, in north China’s Tianjin Municipality, exchanging ideas with business entrepreneurs.

    After hearing the remarks from representatives, Li noted that the current international landscape is in the midst of profound and complex changes, posing significant challenges to global economic development.

    Some 160 business representatives from more than 30 countries and regions attended the symposium.

    The Chinese economy maintained stable growth, relying not only on a solid foundation of stability and improvement, and proactive and effective macro policies, but also on the effective utilization of market forces and the resources of enterprises, including substantial contributions from foreign-funded enterprises, the premier said.

    At the same time, China offers a vast stage for the development of foreign-funded enterprises, Li noted.

    Li said that in the face of a world of change and disorder, it is essential to adapt to the changing times and to respond proactively and effectively to various challenges and risks, creating a conducive environment for business development.

    In the context of in-depth restructuring in the global industrial chain, the quality and efficiency of industrial supply structure are particularly important, Li noted, adding that China has strong industrial support capabilities, with its industrial and supply chains optimizing continuously.

    While highlighting the importance of the speed of application of new technologies and the capability for technological upgrades, Li noted that China has a vast user base for various products and services, facilitating efficient interaction between technological innovation and industrial innovation.

    There is substantial space and significant opportunities for companies from around the world to engage in scientific and technological cooperation and collaborative innovation in China, Li added.

    Noting that the stability of the business development environment is vital, Li said that Chinese economy demonstrates a stability that can withstand external shocks and maintain its own pace, and the stability is further reflected in China’s unwavering commitment to opening up to the outside world, enabling multinational enterprises to achieve greater success and better development in China.

    Li expressed his expectation that enterprises from various countries will provide more quality products and services to the Chinese market, and strengthen technological and industrial cooperation with Chinese companies, better aligning supply and demand for mutual benefits and shared progress in technological advancement and industrial competitiveness.

    China will continue to welcome foreign enterprises to invest in the country, the premier said.

    Representatives at the symposium said that they remained confident in China’s economic prospects, opening up and cooperation, and they would increase investment in technological innovation, and ensure smooth running of industrial and supply chains, thereby achieving greater development while integrating into China’s high-quality development process.

    MIL OSI China News –

  • MIL-OSI USA: PRESS RELEASE: Barragán, Jayapal, and Booker Reintroduce Legislation to Eliminate Barriers to Health Care for Immigrants

    Source: United States House of Representatives – Representative Nanette Diaz Barragán (CA-44)

    FOR IMMEDIATE RELEASE
    June 24, 2025

    Contact: Jin.Choi@mail.house.gov

    Barragán, Jayapal, and Booker Reintroduce Legislation to Eliminate Barriers to Health Care for Immigrants

    WASHINGTON, DC — U.S. Representative Nanette Barragán (CA-44), along with Representative Pramila Jayapal (WA-07), Ranking Member of the Immigration Integrity, Security, and Enforcement Subcommittee and Senator Cory Booker (D-NJ) today introduced the Health Equity and Access under Law (HEAL) for Immigrant Families Act. This bicameral bill, co-sponsored by 55 members of Congress and endorsed by more than 100 organizations, removes unnecessary and cruel barriers to health care for millions of immigrants of all statuses.

    Immigrants in the United States are far more likely to be uninsured than U.S. citizens. In 2023, half of all undocumented immigrant adults and one in five lawfully present immigrant adults were uninsured. Just 6 percent of naturalized citizen adults and 8 percent of U.S.-born citizens are uninsured.

    “Access to healthcare shouldn’t depend on your immigration status,” said Representative Barragán. “Healthcare is a basic human right, and it’s time we break down the needless barriers that keep immigrant families from the care they need to survive and thrive. The HEAL Act is a step toward addressing racial health disparities and expanding quality healthcare to everyone in our communities.”

    “Health care is a human right that must be accessible to everyone — regardless of immigration status,” said Representative Jayapal. “As a proud immigrant myself, I know that the HEAL Act is a necessary first step to allow more people across America to access the health care they need to live, making all of our communities healthier. As Republicans in Congress work to strip health coverage away from millions of Americans and further decimate our already broken immigration system, we’re working to ensure everyone in this country is able to see a doctor when they need it.”

    “Everyone deserves access to comprehensive, affordable, quality care, and the HEAL Act lifts unnecessary barriers to medical care for immigrants,” said Senator Booker. “A more equitable health care system will help create healthier communities and ensure that all families, regardless of immigration status, have access to the care they need.” 

    “Withholding health care from immigrants is cruel and doesn’t make our communities safer or healthier,” said Senator Warren. “While the Trump administration continues playing political games with immigrant families, Democrats are fighting to make sure a person’s immigration status doesn’t prevent them from getting life-saving care.”

    “As the Trump Administration guts access to health care and basic services for immigrant communities, breaking down barriers to health care for immigrants isn’t just the right thing to do — it’s critical for protecting our public health and economy,” said Senator Padilla. “California is the fourth-largest economy in the world not despite immigrants, but because of their contributions to our workforce. Everyone deserves access to affordable, quality health care no matter their immigration status, and I will keep fighting to continue expanding coverage for these hardworking members of our communities.”

    The HEAL for Immigrant Families Act will:

    • Restore Medicaid and Children’s Health Insurance Program (CHIP) eligibility to lawfully present immigrants;
    • Remove discriminatory Medicare restrictions based on length of U.S. residency for green card holders;
    • End the exclusion of undocumented immigrants from Affordable Care Act (ACA) marketplaces
    • Ensure access to public and affordable coverage for Deferred Action Childhood Arrivals (DACA) recipients;
    • Create a state option to expand Medicaid and CHIP to immigrants regardless of immigration status.

    “Rep. Jayapal and Sen. Booker continue to be courageous and powerful champions for immigrant communities by reintroducing the HEAL for Immigrant Families Act,” said Lupe M. Rodríguez, executive director, National Latina Institute for Reproductive Justice. “While immigrant families are currently being attacked and torn apart, this bill promotes a vision for what we want for our collective future. A future that supports immigrant communities by removing long standing systemic barriers to health coverage to help our communities access affordable health care. We are especially grateful that Sen. Booker and Rep. Jayapal are introducing this critical legislation today as we mark three years since the Dobbs v. Jackson Women’s Health Organization decision that overturned the constitutional right to abortion. That decision has disproportionately harmed immigrant communities, for whom abortion bans, misinformation, and the threat of being detained and separated from our families has increased the barriers that keep us from getting the health care we need,” said Lupe M. Rodríguez, Executive Director, National Latina Institute for Reproductive Justice. “We urge Congress to protect immigrant communities and pass this bill.”

    “The reproductive justice movement teaches us that true justice means being able to have children, not have children, and raise our families in safe, supportive communities,” said Sung Yeon Choimorrow, executive director, National Asian Pacific American Women’s Forum (NAPAWF). “None of that is possible without health care. In a country that has always been shaped by immigrants, we cannot keep allowing people and families, including the Asian American immigrants who make up more than a quarter of immigrants in the U.S., to be shut out from basic health care because of harmful, outdated policies. These are our mothers, our sisters, and our neighbors. The HEAL Act tears down the barriers facing our communities and reaffirms that everyone deserves the right to care, regardless of background, income, or immigration status.”

    “Everyone deserves access to health care, no matter who they are or where they come from,” said Alexis McGill Johnson, president and CEO, Planned Parenthood Action Fund. “It is unacceptable and cruel that many are denied affordable, high-quality, and comprehensive health care because of their immigration status. Amid the ongoing attacks on our immigrant communities and our health care, I thank Reps. Jayapal and Barragán and Senator Booker for reintroducing this critical bill that would break down unjust barriers to care for our immigrant families.”

    “As a physician, I’ve witnessed the barriers immigrant families face when trying to access health care. Insurance coverage is a cornerstone of meaningful access; without it, care remains out of reach for too many,” said Dr. Jamila Perritt, MD, MPH, FACOG, President and CEO, Physicians for Reproductive Health. “At a time when attacks on immigrant communities are escalating, we must act now to ensure that everyone—regardless of status—has the right to timely, compassionate, and comprehensive health care. That’s why I join physicians across the country in calling for a swift passage of the HEAL Act. Expanding health coverage to immigrant communities ensures they receive the care they deserve, regardless of their immigration status. Health is a human right and no one should be excluded from receiving healthcare. Congress must pass HEAL – our patients are counting on it.”

    “With immigrant families under constant attack, it’s more important than ever to work toward a better, more inclusive future when everyone can get the care we all need,” said Adriana Cadena, campaign director, Protecting Immigrant Families Coalition. “We are proud to champion the HEAL Act – a critical step toward that better future.” 

    “Now more than ever, it is critical to affirm that everyone—including immigrants—should have access to health care coverage,” said Wendy Cervantes, Director, Immigration and Immigrant Families, CLASP. “Immigrants already face many restrictions to such care and an onslaught of attacks on them and their families’ health and well-being, ranging from the fear created by the Administration’s mass deportation efforts to the deeply harmful budget reconciliation bill currently under consideration. The HEAL for Immigrant Families Act is a critical step in moving us back in the right direction by giving children and families access to the health care they need to thrive. CLASP is grateful to Representative Jayapal and Senator Booker for their leadership in promoting a vision that supports health care for all.”

    The legislation is also co-sponsored by U.S. Representatives Becca Balint (VT-AL), Donald S. Beyer, Jr. (VA-08), Suzanne Bonamici (OR-01), Salud Carbajal (CA-24), André Carson (IN-07), Troy Carter (LA-02), Greg Casar (TX-35), Kathy Castor (FL-14), Joaquin Castro (TX-20), Sheila Cherfilus-McCormick (FL-20), Judy Chu (CA-28), Jasmine Crockett (TX-30), Suzan DelBene (WA-01), Maxine Dexter (OR-03), Lloyd Doggett (TX-37), Adriano Espaillat (NY-13), Maxwell Frost (FL-10), Jesús “Chuy” García (IL-04), Robert Garcia (CA-42), Sylvia Garcia (TX-29), Jimmy Gomez (CA-34), Jared Huffman (CA-02), Jonathan L. Jackson (IL-01), Sara Jacobs (CA-51), Henry C. “Hank” Johnson, Jr. (GA-04), Ro Khanna (CA-17), Raja Krishnamoorthi (IL-08), Teresa Leger Fernández (NM-03), Ted Lieu (CA-36), Jennifer McClellan (VA-04), James P. McGovern (MA-02), Gwen Moore (WI-04), Jerry Nadler (NY-12), Eleanor Holmes Norton (DC), Ilhan Omar (MN-05), Jimmy Panetta (CA-19), Mark Pocan (WI-02), Ayanna Pressley (MA-07), Delia Ramirez (IL-03), Andrea Salinas (OR-06), Jan Schakowsky (IL-09), Terri Sewell (AL-07), Lateefah Simon (CA-12), Melanie Stansbury (NM-01), Marilyn Strickland (WA-10), Shri Thanedar (MI-13), Rashida Tlaib (MI-12), Juan Vargas (CA-52), Nydia M. Velázquez (NY-07), Debbie Wasserman Schultz (FL-25), Bonnie Watson Coleman (NJ-12), Nikema Williams (GA-05), and Frederica S. Wilson (FL-24), and U.S. Senators Martin Heinrich (D-NM), Elizabeth Warren (D-MA), Alex Padilla (D-CA), Patty Murray (D-WA), Mazie Hirono (D-HI), Bernie Sanders (I-VT), Edward Markey (D-MA), and Richard Blumenthal (D-CT).

    The legislation is endorsed by AAPI Equity Alliance; AAPI NJ; Advocates for Youth; AFL-CIO; Alianza Nacional de Campesinas; All* Above All; Alliance of Filipinos for Immigrant Rights and Empowerment; American Civil Liberties Union (ACLU); American College of Obstetricians and Gynecologists; American Muslim Health Professionals (AMHP); Amica Center for Immigrant Rights; Arkansas Black Gay Men’s Forum; Asian & Pacific Islander American Health Forum (APIAHF); Asian American Federation of Florida; Asian Americans United (AAU); Asian Caribbean Exchange; Asian Pacific Institute on Gender-Based Violence; Asian Pacific Islanders Civic Action Network, Massachusetts; Asian Texans for Justice Action Fund; ASISTA; Association of Asian Pacific Community Health Organizations; Autistic Women & Nonbinary Network; Ayuda; CA LGBTQ Health and Human Services Network; California Partnership to End Domestic Violence; CASA; Catholics for Choice; Center for Gender & Refugee Studies; Center for Human Rights and Constitutional Law; Center for Law and Social Policy (CLASP); Center for Reproductive Rights; Center for Victims of Torture; Children’s HealthWatch; Cleveland Jobs with Justice; Coalition for Humane Immigrant Rights (CHIRLA); Coalition on Human Needs; Coalition to Abolish Slavery and Trafficking; Community Catalyst; Doctors for America ; End SIJS Backlog Coalition; Equality California; Esperanza United; First Focus Campaign for Children; Florida Asian Services ; Freedom Network USA; Georgia Conservation Voters; Global Refugee Awareness Healing Center; Global Urban Cultural Community; Guttmacher Institute; Haven Services Inc. dba Haven Neighborhood Servic; Health Action New Mexico; Healthy Teen Network; Her Justice ; Hispanic Federation; Ibis Reproductive Health; ICAH (Illinois Caucus for Adolescent Health); Immigrant Legal Resource Center; Immigrant Welcome Network Johnson County; Immigration Institute of the Bay Area; In Our Own Voice: National Black Women’s Reproductive Justice Agenda ; Inclusive Counseling; Indivisible; Institute for Women’s Policy Research; Ipas US; Jacobs Institute of Women’s Health; Justice for Migrant Women; Justice in Aging; KAN-WIN; Kids in Need of Defense (KIND); Labor Council for Latin American Advancement (LCLAA); Laotian American National Alliance (LANA); Latino; Legal Voice; Maine Equal Justice; MANA, A National Latina Organization; Midwest Access Coalition; Moonbow; National Abortion Federation; National Asian American Pacific Islander Mental Health Association (NAAPIMHA); National Asian Pacific American Women’s Forum (NAPAWF); National Association of Nurse Practitioners in Women’s Health; National Council of Jewish Women; National Employment Law Project; National Family Planning & Reproductive Health Association; National Health Care for the Homeless Council; National Health Law Program; National Immigration Law Center; National Korean American Service and Education Consortium; National Latina Institute for Reproductive Justice; National Network of Abortion Funds; National Network To End Domestic Violence ; National Organization for Women ; National Partnership for New Americans; National Partnership for Women & Families; National Queer Asian Pacific Islander Alliance; National Women’s Law Center Action Fund; NIRH Action Fund; NIWAP, Inc.; Northwest Health Law Advocates (NoHLA); Oasis Legal Services; OCA South Florida Chapter; Our Justice; Oxfam America; People Power United; Physicians for Reproductive Health; Planned Parenthood Federation of America; Plascencia Consulting; Population Connection Action Fund; Positive Women’s Network-USA; Power to Decide; PowHerNY; Prevention Institute; Protecting Immigrant Families; QASPIRA Association; Religious Community for Reproductive Choice; Reproductive Freedom For All; Reproductive Health Access Project; Reproductive Justice Action Collective (ReJAC); Sadhana: Coalition of Progressive Hindus; Sarin Gal; Shriver Center on Poverty Law; SIECUS: Sex Ed for Social Change; Sikh American Legal Defense and Education Fund (SALDEF); SiX Action; South Asian Public Health Association (SAPHA); South Asian SOAR; State Voices Florida; Survivor Justice Center; The Children’s Partnership; The National Association of Nurse Practitioners in Women’s Health (NPWH); The TransLatin@ Coalition; UCSF Bixby Center for Global Reproductive Health; UnidosUS; Union for Reform Judaism; United Parent Leaders Action Network; URGE: Unite for Reproductive & Gender Equity; Voices for Utah Children; Women of Reform Judaism; Women’s Law Project; Women’s Refugee Commission.

    ###

    MIL OSI USA News –

  • MIL-OSI Global: Migrants in South Africa’s economic powerhouse often go hungry: the drivers and what can be done about it

    Source: The Conversation – Africa – By Adrino Mazenda, Senior Researcher, Associate Professor Economic Management Sciences, University of Pretoria

    About 281 million people globally have migrated from their country of origin to another country. This movement can be temporary or permanent and can occur for various reasons, including economic opportunities, family reunification and education. Then there are also millions who are escaping conflict and seeking refuge in another country.

    Countries at different stages of development also experience large volumes of internal migration. Migration within a country can be temporary or permanent too, and reflect economic reasons or insecurity.

    Both types of migrants sometimes experience food insecurity: the physical and financial inability to access nutritious, safe and sufficient food to fulfil a person’s dietary requirements.

    There are an estimated 2.89 million documented foreign migrants in South Africa, accounting for about 5% of the country’s population. Most immigrants in South Africa come from the Southern African Development Community countries. South Africa also experiences a high annual internal migration rate. About 850,0000 people temporarily and permanently relocate from rural to urban areas.

    Gauteng, the province which contributes more than a third of South Africa’s economic output, attracts a disproportionate share of internal and international migration.

    As social scientists who have been studying migration and food security, we conducted research to explore the food security status of migrant households (international and internal) and native Gauteng households, and to understand their differences, if any.

    The study used data from the 2020/21 Quality of Life survey. This is one of the largest social surveys in South Africa, and respondents include both internal and international migrants. It is conducted every two years by the Gauteng City Region Observatory. Quantitative research methods and statistical analysis were then applied to identify patterns and relationships between food insecurity and migration variables.

    Food insecurity remains a pressing concern in South Africa’s major cities, particularly among migrant populations. Not all migrants experience food insecurity the same way, however. Internal and international migrants differ not only from native Gauteng residents but also from one another. There are different factors influencing their vulnerability.

    The differences

    One differentiating factor between the internal and foreign migrants is government social support services. They seem to play a key role in determining the well-being of internal migrants. International migrants don’t qualify for such services. But they sometimes fared better than internal migrants or natives, likely due to age, education, or resourcefulness (social support networks).

    Internal migrants experienced their own set of challenges. For example, poor health service provision and lack of medical aid were strong predictors of food insecurity. This suggests that addressing food access requires improvements in health services, insurance, and broader social infrastructure.

    Improved access to healthcare reduces the financial burden on households dealing with medical expenses, so they can spend more on food. Access to maternal and child health services enhances nutritional knowledge and practices. That in turn improves the way households use food. Health insurance and unemployment insurance protect households from income shocks that could otherwise lead to food insecurity.

    A stronger social infrastructure improves food access by enhancing education, healthcare, and social protection systems. Education boosts income and nutritional knowledge. Preventive healthcare reduces illness and medical expenses, freeing up resources for food. Social protection measures help households withstand financial shocks, ensuring consistent access to food.

    Of course all this support has a cost that needs to be funded from the public purse, but its benefits may well outweigh the cost.

    Gender disparities

    Immigrants contribute significantly to South Africa’s economy. Migration enhances labour market flexibility, promotes economic dynamism, and supports livelihoods in both urban and rural areas, making it essential for inclusive economic growth.
    Internal migrants provide labour in sectors such as mining, construction and services, while also supporting rural households through remittances. They help stimulate urban informal economies.

    International migrants bring valuable skills and resilience to various sectors, including agriculture, healthcare, manufacturing and construction. They contribute local income taxes. Some operate small and large formal businesses, which adds to job creation.

    However, employment data reveals a pronounced gender disparity among international migrants and internal migrants.

    In all population groups (native residents, internal migrants and international migrants), men are more likely to be employed than women. Among international migrants, over 1 million men were employed compared to 400,000 women. More women (281,553) than men (88,598) were classified as economically inactive – not available for work.

    The primary reason for internal migration among both men and women was the search for paid employment. For men, the second most common reason was job transfers or accepting new employment.

    In contrast, female migrants cited moving to live with or be closer to a spouse, family, or friends, often due to marriage, as their main motivation.

    Way forward

    Our study highlights the determinants of food insecurity among migrant populations. It also challenges harmful stereotypes and invites more inclusive thinking about social support and job creation.

    The study’s findings can help inform the public about who needs more support and why. It shows that food aid and government support systems aren’t working as intended.

    The main conclusions we reached from the study were that:

    • Rural health infrastructure is in dire need of public support.

    • Increased inequities in healthcare access are unjustified.

    • The medical and health bills of foreign citizens can be shared between home and host countries to reduce the strain on the host’s infrastructure through a combination of policy reforms, bilateral agreements and global cooperation mechanisms. Key to this is an inter-government billing system where host countries track migrants’ healthcare use and send bills to their home country governments or insurers.

    • It is desirable for migrants to hold valid health insurance as a condition of entry or residency.

    • Policies to promote agriculture and rural areas, particularly developing new rural housing schemes, appear to be a promising way to abate food insecurity.

    • Revitalising special economic zones, the designated areas offering incentives to attract investment, boost trade and create jobs, can help limit the concentration of migrants in Gauteng.

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

    – ref. Migrants in South Africa’s economic powerhouse often go hungry: the drivers and what can be done about it – https://theconversation.com/migrants-in-south-africas-economic-powerhouse-often-go-hungry-the-drivers-and-what-can-be-done-about-it-256907

    MIL OSI – Global Reports –

  • MIL-OSI Africa: Migrants in South Africa’s economic powerhouse often go hungry: the drivers and what can be done about it

    Source: The Conversation – Africa – By Adrino Mazenda, Senior Researcher, Associate Professor Economic Management Sciences, University of Pretoria

    About 281 million people globally have migrated from their country of origin to another country. This movement can be temporary or permanent and can occur for various reasons, including economic opportunities, family reunification and education. Then there are also millions who are escaping conflict and seeking refuge in another country.

    Countries at different stages of development also experience large volumes of internal migration. Migration within a country can be temporary or permanent too, and reflect economic reasons or insecurity.

    Both types of migrants sometimes experience food insecurity: the physical and financial inability to access nutritious, safe and sufficient food to fulfil a person’s dietary requirements.

    There are an estimated 2.89 million documented foreign migrants in South Africa, accounting for about 5% of the country’s population. Most immigrants in South Africa come from the Southern African Development Community countries. South Africa also experiences a high annual internal migration rate. About 850,0000 people temporarily and permanently relocate from rural to urban areas.

    Gauteng, the province which contributes more than a third of South Africa’s economic output, attracts a disproportionate share of internal and international migration.

    As social scientists who have been studying migration and food security, we conducted research to explore the food security status of migrant households (international and internal) and native Gauteng households, and to understand their differences, if any.

    The study used data from the 2020/21 Quality of Life survey. This is one of the largest social surveys in South Africa, and respondents include both internal and international migrants. It is conducted every two years by the Gauteng City Region Observatory. Quantitative research methods and statistical analysis were then applied to identify patterns and relationships between food insecurity and migration variables.

    Food insecurity remains a pressing concern in South Africa’s major cities, particularly among migrant populations. Not all migrants experience food insecurity the same way, however. Internal and international migrants differ not only from native Gauteng residents but also from one another. There are different factors influencing their vulnerability.

    The differences

    One differentiating factor between the internal and foreign migrants is government social support services. They seem to play a key role in determining the well-being of internal migrants. International migrants don’t qualify for such services. But they sometimes fared better than internal migrants or natives, likely due to age, education, or resourcefulness (social support networks).

    Internal migrants experienced their own set of challenges. For example, poor health service provision and lack of medical aid were strong predictors of food insecurity. This suggests that addressing food access requires improvements in health services, insurance, and broader social infrastructure.

    Improved access to healthcare reduces the financial burden on households dealing with medical expenses, so they can spend more on food. Access to maternal and child health services enhances nutritional knowledge and practices. That in turn improves the way households use food. Health insurance and unemployment insurance protect households from income shocks that could otherwise lead to food insecurity.

    A stronger social infrastructure improves food access by enhancing education, healthcare, and social protection systems. Education boosts income and nutritional knowledge. Preventive healthcare reduces illness and medical expenses, freeing up resources for food. Social protection measures help households withstand financial shocks, ensuring consistent access to food.

    Of course all this support has a cost that needs to be funded from the public purse, but its benefits may well outweigh the cost.

    Gender disparities

    Immigrants contribute significantly to South Africa’s economy. Migration enhances labour market flexibility, promotes economic dynamism, and supports livelihoods in both urban and rural areas, making it essential for inclusive economic growth. Internal migrants provide labour in sectors such as mining, construction and services, while also supporting rural households through remittances. They help stimulate urban informal economies.

    International migrants bring valuable skills and resilience to various sectors, including agriculture, healthcare, manufacturing and construction. They contribute local income taxes. Some operate small and large formal businesses, which adds to job creation.

    However, employment data reveals a pronounced gender disparity among international migrants and internal migrants.

    In all population groups (native residents, internal migrants and international migrants), men are more likely to be employed than women. Among international migrants, over 1 million men were employed compared to 400,000 women. More women (281,553) than men (88,598) were classified as economically inactive – not available for work.

    The primary reason for internal migration among both men and women was the search for paid employment. For men, the second most common reason was job transfers or accepting new employment.

    In contrast, female migrants cited moving to live with or be closer to a spouse, family, or friends, often due to marriage, as their main motivation.

    Way forward

    Our study highlights the determinants of food insecurity among migrant populations. It also challenges harmful stereotypes and invites more inclusive thinking about social support and job creation.

    The study’s findings can help inform the public about who needs more support and why. It shows that food aid and government support systems aren’t working as intended.

    The main conclusions we reached from the study were that:

    • Rural health infrastructure is in dire need of public support.

    • Increased inequities in healthcare access are unjustified.

    • The medical and health bills of foreign citizens can be shared between home and host countries to reduce the strain on the host’s infrastructure through a combination of policy reforms, bilateral agreements and global cooperation mechanisms. Key to this is an inter-government billing system where host countries track migrants’ healthcare use and send bills to their home country governments or insurers.

    • It is desirable for migrants to hold valid health insurance as a condition of entry or residency.

    • Policies to promote agriculture and rural areas, particularly developing new rural housing schemes, appear to be a promising way to abate food insecurity.

    • Revitalising special economic zones, the designated areas offering incentives to attract investment, boost trade and create jobs, can help limit the concentration of migrants in Gauteng.

    – Migrants in South Africa’s economic powerhouse often go hungry: the drivers and what can be done about it
    – https://theconversation.com/migrants-in-south-africas-economic-powerhouse-often-go-hungry-the-drivers-and-what-can-be-done-about-it-256907

    MIL OSI Africa –

  • MIL-OSI USA: Calling on Congressional Leaders to Save SNAP

    Source: US State of New York

    overnor Hochul yesterday joined a group of 23 Governors to urge Congressional leadership to support the Supplemental Nutrition Assistance Program that puts food on the table for millions of people across the nation. The letter signed by 23 governors from across the country warns that the GOP reconciliation bill in Congress threatens to strip critical food benefits from more than 42 million people in the United States, including 3 million here in New York.

    “SNAP doesn’t just help millions of New York families put food on the table, it keeps our local grocers open for business and makes major investments in our farming industry,” Governor Hochul said. “I urge New York Republicans in Congress to reject this proposal that would slash these benefits and unleash hell for families across our state.”

    The governors co-signed the letter as the GOP reconciliation bill threatens to shift up to 25 percent of the food benefit costs onto states, meaning a new expense of millions — and in some states, billions — of dollars. This shift in costs to the states is unprecedented in SNAP’s 50-year history.

    Read the full text of the letter below:

    Speaker Johnson, Leader Jeffries, Leader Thune, and Leader Schumer,

    SNAP (the Supplemental Nutrition Assistance Program) is one of the most powerful tools states have to address hunger, improve overall health, and help people overcome poverty. In 2024, SNAP provided food benefits to more than 42 million people in the United States, helping to address the needs of more than 13% of households across the country who experienced food insecurity.

    Recent U.S. House and Senate proposals would effectively gut this critical food assistance that helps families with children, older adults, and working people afford the rising cost of groceries and put food on the table. Congress has proposed profoundly changing the relationship between the federal government and states—by shifting unprecedented costs to states for the first time in the 50 years of SNAP’s history. Under this plan, states will need to find millions or even billions of extra dollars in their budgets or be forced to leave the SNAP program entirely, potentially cutting off millions of Americans from this vital assistance.

    Congress is forcing states into an impossible ultimatum: either come up with new funding to backfill federal cuts or cut off families from essential food assistance. The idea that states will be able to respond to these massive cuts by backfilling with state resources is unrealistic. If states cannot meet the full cost share, they will need to cut SNAP enrollment or end their program entirely. States have limited options to reduce their SNAP enrollment, and with SNAP being a safety net program meant to help the most vulnerable, states are one economic downturn or natural disaster away from seeing increased SNAP demand.

    If states are forced to end their SNAP programs, hunger and poverty will increase, children and adults will get sicker, grocery stores in rural areas will struggle to stay open, people in agriculture and the food industry will lose jobs, and state and local economies will suffer.

    These cuts from Congress don’t just increase state costs – they make it nearly impossible for states to effectively plan for these long-term budget impacts. That is because the amount a state owes annually would depend on its payment error rate, a figure that changes from year to year and is based on administrative errors. States, which must balance their budgets by law, will not know how much funding will be needed to maintain SNAP until three months before the bill comes due. Strained state budgets cannot backfill these cuts, especially as Congress simultaneously proposes to slash Medicaid, disaster relief, and other federally-funded safety net programs.

    The combination of massive cost increases to states, the unpredictability of how much a state will be on the hook for from year to year, and the need for states to balance their budgets creates a significant risk that states have to leave SNAP altogether. Congress’s own budget office confirmed that this risk is very real. And while we are encouraged that the Senate’s “umpire,” the parliamentarian, confirmed that instituting a SNAP benefit cost share on the states violates Senate rules, we remain concerned that Congress’s ongoing attempts to cut costs in the SNAP program will result in millions of Americans losing their nutrition benefits.

    To be clear, states already have skin in the game for the SNAP program. State governments currently pay for half of the cost to run the program; in some states, county and Tribal governments also contribute to that cost. In addition, a system to ensure states use SNAP dollars effectively is already in place: Congress charges financial penalties if states have two consecutive years of high error rates.

    As Governors, we urge Congress to honor its commitment to the people of the United States of America by rejecting any proposals that would put state SNAP programs at risk. Cuts to SNAP will mean that millions of Americans won’t get the food they need for their families. And it will result in too many Americans forced to survive rather than thrive.

    Sincerely,

    Governor Kathy Hochul
    State of New York

    MIL OSI USA News –

  • MIL-OSI Global: Trump administration aims to slash funds that preserve the nation’s rich architectural and cultural history

    Source: The Conversation – USA – By Michael R. Allen, Visiting Assistant Professor of History, West Virginia University

    The iconic ‘Walking Man’ Hawkes sign in Westbrook, Maine, was added to the National Register of Historic Places in 2019. Ben McCanna/Portland Portland Press Herald via Getty Images

    President Donald Trump’s proposed fiscal year 2026 discretionary budget is called a “skinny budget” because it’s short on line-by-line details.

    But historic preservation efforts in the U.S. did get a mention – and they might as well be skinned to the bone.

    Trump has proposed to slash funding for the federal Historic Preservation Fund to only $11 million, which is $158 million less than the fund’s previous reauthorization in 2024. The presidential discretionary budget, however, always heads to Congress for appropriation. And Congress always makes changes.

    That said, the Trump administration hasn’t even released the $188 million that Congress appropriated for the fund for the 2025 fiscal year, essentially impounding the funding stream that Congress created in 1976 for historic preservation activities across the nation.

    I’m a scholar of historic preservation who’s worked to secure historic designations for buildings and entire neighborhoods. I’ve worked on projects that range from making distressed neighborhoods in St. Louis eligible for historic tax credits to surveying Cold War-era hangars and buildings on seven U.S. Air Force bases.

    I’ve seen the ways in which the Historic Preservation Fund helps local communities maintain and rehabilitate their rich architectural history, sparing it from deterioration, the wrecking ball or the pressures of the private market.

    A rare, deficit-neutral funding model

    Most Americans probably don’t realize that the task of historic preservation largely falls to individual states and Native American tribes.

    The National Historic Preservation Act that President Lyndon B. Johnson signed into law in 1966 requires states and tribes to handle everything from identifying potential historic sites to reviewing the impact of interstate highway projects on archaeological sites and historic buildings. States and tribes are also responsible for reviewing nominations of sites in the National Register of Historic Places, the nation’s official list of properties deemed worthy of preservation.

    However, many states and tribes didn’t have the capacity to adequately tackle the mandates of the 1966 act. So the Historic Preservation Fund was formed a decade later to alleviate these costs by funneling federal resources into these efforts.

    The fund is actually the product of a conservative, limited-government approach.

    Created during Gerald Ford’s administration, it has a revenue-neutral model, meaning that no tax dollars pay for the program. Instead, it’s funded by private lease royalties from the Outer Continental Shelf oil and gas reserves.

    Most of these reserves are located in federal waters in the Gulf of Mexico and off the coast of Alaska. Private companies that receive a permit to extract from them must agree to a lease with the federal government. Royalties from their oil and gas sales accrue in federally controlled accounts under the terms of these leases. The Office of Natural Resources Revenue then directs 1.5% of the total royalties to the Historic Preservation Fund.

    Congress must continually reauthorize the amount of funding reserved for the Historic Preservation Fund, or it goes unfunded.

    Boston’s Fenway Park was added to the National Register of Historic Places in 2012, making it eligible for preservation grants and federal tax incentives.
    Winslow Townson/Getty Images

    Despite bipartisan support, the fund has been threatened in the past. President Ronald Reagan attempted to do exactly what Trump is doing now by making no request for funding at all in his 1983 budget. Yet the fund has nonetheless been reauthorized six times since its inception, with terms ranging from five to 10 years.

    The program is a crucial source of funding, particularly in small towns and rural America, where privately raised cultural heritage funds are harder to come by. It provides grants for the preservation of buildings and geographical areas that hold historical, cultural or spiritual significance in underrepresented communities. And it’s even involved in projects tied to the nation’s 250th birthday in 2026, such as the rehabilitation of the home in New Jersey where George Washington was stationed during the winter of 1778-79 and the restoration of Rhode Island’s Old State House.

    Filling financial gaps

    I’ve witnessed the fund’s impact firsthand in small communities across the nation.

    Edwardsville, Illinois, a suburb of St. Louis, is home to the Leclaire Historic District. In the 1970s, it was added to the National Register of Historic Places. The national designation recognized the historic significance of the district, protecting it against any adverse impacts from federal infrastructure funding. It also made tax credits available to the town. Edwardsville then designated LeClaire a local historic district so that it could legally protect the indelible architectural features of its homes, from original decorative details to the layouts of front porches.

    Despite the designation, however, there was no clear inventory of the hundreds of houses in the district. A few paid staffers and a volunteer citizen commission not only had to review proposed renovations and demolitions, but they also had to figure out which buildings even contributed to LeClaire’s significance and which ones did not – and thus did not need to be tied up in red tape.

    The Allen House is one of approximately 415 single-family homes in the Leclaire neighborhood in Edwardsville, Ill.
    Friends of Leclaire

    Edwardsville was able to secure a grant through the Illinois State Historic Preservation Office thanks to a funding match enabled by money disbursed to Illinois via the Historic Preservation Fund.

    In 2013, my team created an updated inventory of the historic district, making it easier for the local commission to determine which houses should be reviewed carefully and which ones don’t need to be reviewed at all.

    Oil money better than no money

    The historic preservation field, not surprisingly, has come out strongly against Trump’s proposal to defund the Historic Preservation Fund.

    Nonetheless, there have been debates within the field over the fund’s dependence on the fossil fuel industry, which was the trade-off that preservationists made decades ago when they crafted the funding model.

    In the 1970s, amid the national energy crisis, conservation of existing buildings was seen as a worthy ecological goal, since demolition and new construction required fossil fuels. To preservationists, diverting federal carbon royalties seemed like a power play.

    But with the effects of climate change becoming impossible to ignore, some preservationists are starting to more openly critique both the ethics and the wisdom of tapping into a pool of money created through the profits of the oil and gas industry. I’ve recently wondered myself if continued depletion of fossil fuels means that preservationists won’t be able to count on the Historic Preservation Fund as a long-term source of funding.

    That said, you’d be hard-pressed to find a preservationist who thinks that destroying the Historic Preservation Fund would be a good first step in shaping a more visionary policy.

    For now, Trump’s administration has only sown chaos in the field of historic preservation. Already, Ohio has laid off one-third of the staffers in its State Historic Preservation Office due to the impoundment of federal funds. More state preservation offices may follow suit. The National Council of State Historic Preservation Officers predicts that states soon could be unable to perform their federally mandated duties.

    Unfortunately, many people advocating for places important to their towns and neighborhoods may end up learning the hard way just what the Historic Preservation Fund does.

    Michael R. Allen is a member of the Advisor Leadership Team of the National Trust for Historic Preservation.

    – ref. Trump administration aims to slash funds that preserve the nation’s rich architectural and cultural history – https://theconversation.com/trump-administration-aims-to-slash-funds-that-preserve-the-nations-rich-architectural-and-cultural-history-258889

    MIL OSI – Global Reports –

  • MIL-OSI Global: Checking in on New England fisheries 25 Years after ‘The Perfect Storm’ hit movie theaters

    Source: The Conversation – USA – By Stephanie Otts, Director of National Sea Grant Law Center, University of Mississippi

    Filming ‘The Perfect Storm’ in Gloucester Harbor, Mass.
     The Salem News Historic Photograph Collection, Salem State University Archives and Special Collections, CC BY

    Twenty-five years ago, “The Perfect Storm” roared into movie theaters. The disaster flick, starring George Clooney and Mark Wahlberg, was a riveting, fictionalized account of commercial swordfishing in New England and a crew who went down in a violent storm.

    The anniversary of the film’s release, on June 30, 2000, provides an opportunity to reflect on the real-life changes to New England’s commercial fishing industry.

    Fishing was once more open to all

    In the true story behind the movie, six men lost their lives in late October 1991 when the commercial swordfishing vessel Andrea Gail disappeared in a fierce storm in the North Atlantic as it was headed home to Gloucester, Massachusetts.

    At the time, and until very recently, almost all commercial fisheries were open access, meaning there were no restrictions on who could fish.

    There were permit requirements and regulations about where, when and how you could fish, but anyone with the means to purchase a boat and associated permits, gear, bait and fuel could enter the fishery. Eight regional councils established under a 1976 federal law to manage fisheries around the U.S. determined how many fish could be harvested prior to the start of each fishing season.

    Fishing has been an integral part of coastal New England culture since its towns were established. In this 1899 photo, a New England community weighs and packs mackerel.
    Charles Stevenson/Freshwater and Marine Image Bank

    Fishing started when the season opened and continued until the catch limit was reached. In some fisheries, this resulted in a “race to the fish” or a “derby,” where vessels competed aggressively to harvest the available catch in short amounts of time. The limit could be reached in a single day, as happened in the Pacific halibut fishery in the late 1980s.

    By the 1990s, however, open access systems were coming under increased criticism from economists as concerns about overfishing rose.

    The fish catch peaked in New England in 1987 and would remain far above what the fish population could sustain for two more decades. Years of overfishing led to the collapse of fish stocks, including North Atlantic cod in 1992 and Pacific sardine in 2015.

    As populations declined, managers responded by cutting catch limits to allow more fish to survive and reproduce. Fishing seasons were shortened, as it took less time for the fleets to harvest the allowed catch. It became increasingly hard for fishermen to catch enough fish to earn a living.

    Saving fisheries changed the industry

    In the early 2000s, as these economic and environmental challenges grew, fisheries managers started limiting access. Instead of allowing anyone to fish, only vessels or individuals meeting certain eligibility requirements would have the right to fish.

    The most common method of limiting access in the U.S. is through limited entry permits, initially awarded to individuals or vessels based on previous participation or success in the fishery. Another approach is to assign individual harvest quotas or “catch shares” to permit holders, limiting how much each boat can bring in.

    In 2007, Congress amended the 1976 Magnuson-Stevens Fishery Conservation and Management Act to promote the use of limited access programs in U.S. fisheries.

    Ships in the fleet out of New Bedford, Mass.
    Henry Zbyszynski/Flickr, CC BY

    Today, limited access is common, and there are positive signs that the management change is helping achieve the law’s environmental goal of preventing overfishing. Since 2000, the populations of 50 major fishing stocks have been rebuilt, meaning they have recovered to a level that can once again support fishing.

    I’ve been following the changes as a lawyer focused on ocean and coastal issues, and I see much work still to be done.

    Forty fish stocks are currently being managed under rebuilding plans that limit catch to allow the stock to grow, including Atlantic cod, which has struggled to recover due to a complex combination of factors, including climatic changes.

    The lingering effect on communities today

    While many fish stocks have recovered, the effort came at an economic cost to many individual fishermen. The limited-access Northeast groundfish fishery, which includes Atlantic cod, haddock and flounder, shed nearly 800 crew positions between 2007 and 2015.

    The loss of jobs and revenue from fishing impacts individual family income and relationships, strains other businesses in fishing communities, and affects those communities’ overall identity and resilience, as illustrated by a recent economic snapshot of the Alaska seafood industry.

    When original limited-access permit holders leave the business – for economic, personal or other reasons – their permits are either terminated or sold to other eligible permit holders, leading to fewer active vessels in the fleet. As a result, the number of vessels fishing for groundfish has declined from 719 in 2007 to 194 in 2023, meaning fewer jobs.

    A fisherman unloads a portion of his catch for the day of 300 pounds of groundfish, including flounder, in January 2006 in Gloucester, Mass.
    AP Photo/Lisa Poole

    Because of their scarcity, limited-access permits can cost upward of US$500,000, which is often beyond the financial means of a small businesses or a young person seeking to enter the industry. The high prices may also lead retiring fishermen to sell their permits, as opposed to passing them along with the vessels to the next generation.

    These economic forces have significantly altered the fishing industry, leading to more corporate and investor ownership, rather than the family-owned operations that were more common in the Andrea Gail’s time.

    Similar to the experience of small family farms, fishing captains and crews are being pushed into corporate arrangements that reduce their autonomy and revenues.

    Consolidation can threaten the future of entire fleets, as New Bedford, Massachusetts, saw when Blue Harvest Fisheries, backed by a private equity firm, bought up vessels and other assets and then declared bankruptcy a few years later, leaving a smaller fleet and some local business and fishermen unpaid for their work. A company with local connections bought eight vessels from Blue Harvest along with 48 state and federal permits the company held.

    New challenges and unchanging risks

    While there are signs of recovery for New England’s fisheries, challenges continue.

    Warming water temperatures have shifted the distribution of some species, affecting where and when fish are harvested. For example, lobsters have moved north toward Canada. When vessels need to travel farther to find fish, that increases fuel and supply costs and time away from home.

    Fisheries managers will need to continue to adapt to keep New England’s fisheries healthy and productive.

    One thing that, unfortunately, hasn’t changed is the dangerous nature of the occupation. Between 2000 and 2019, 414 fishermen died in 245 disasters.

    Stephanie Otts receives funding from the NOAA National Sea Grant College Program through the U.S. Department of Commerce. Previous support for fisheries management legal research provided by The Nature Conservancy.

    – ref. Checking in on New England fisheries 25 Years after ‘The Perfect Storm’ hit movie theaters – https://theconversation.com/checking-in-on-new-england-fisheries-25-years-after-the-perfect-storm-hit-movie-theaters-255076

    MIL OSI – Global Reports –

  • MIL-OSI Global: Blocking exports and raising tariffs is a bad defense against industrial cyber espionage, study shows

    Source: The Conversation – USA – By William Akoto, Assistant Professor of Global Security, American University

    Cutting off China’s access to advanced U.S. chips is likely to motivate Chinese cyber espionage. kritsapong jieantaratip/iStock via Getty Images

    The United States is trying to decouple its economy from rivals like China. Efforts toward this include policymakers raising tariffs on Chinese goods, blocking exports of advanced technology and offering subsidies to boost American manufacturing. The goal is to reduce reliance on China for critical products in hopes that this will also protect U.S. intellectual property from theft.

    The idea that decoupling will help stem state-sponsored cyber-economic espionage has become a key justification for these measures. For instance, then-U.S. Trade Representative Katherine Tai framed the continuation of China-specific tariffs as serving the “statutory goal to stop [China’s] harmful … cyber intrusions and cyber theft.” Early tariff rounds during the first Trump administration were likewise framed as forcing Beijing to confront “deeply entrenched” theft of U.S. intellectual property.

    This push to “onshore” key industries is driven by very real concerns. By some estimates, theft of U.S. trade secrets, often through hacking – costs the American economy hundreds of billions of dollars per year. In that light, decoupling is a defensive economic shield – a way to keep vital technology out of an adversary’s reach.

    But will decoupling and cutting trade ties truly make America’s innovations safer from prying eyes? I’m a political scientist who studies state-sponsored cyber espionage, and my research suggests that the answer is a definitive no. Indeed, it might actually have the opposite effect.

    To understand why, it helps to look at what really drives state-sponsored hacking.

    Rivalry, not reliance

    Intuitively, you might think a country is most tempted to steal secrets from a nation it depends on. For example, if Country A must import jet engines or microchips from Country B, Country A might try to hack Country B’s companies to copy that technology and become self-sufficient. This is the industrial dependence theory of cyber theft.

    There is some truth to this motive. If your economy needs what another country produces, stealing that know-how can boost your own industries and reduce reliance. However, in a recent study, I show that a more powerful predictor of cyber espionage is industrial similarity. Countries with overlapping advanced industries such as aerospace, electronics or pharmaceuticals are the ones most likely to target each other with cyberattacks.

    Why would having similar industries spur more spying? The reason is competition. If two nations both specialize in cutting-edge sectors, each has a lot to gain by stealing the other’s innovations.

    If you’re a tech powerhouse, you have valuable secrets worth stealing, and you have the capability and motivation to steal others’ secrets. In essence, simply trading with a rival isn’t the core issue. Rather, it’s the underlying technological rivalry that fuels espionage.

    For example, a cyberattack in 2012 targeted SolarWorld, a U.S. solar panel manufacturer, and the perpetrators stole the company’s trade secrets. Chinese solar companies then developed competing products based on the stolen designs, costing SolarWorld millions in lost revenue. This is a classic example of industrial similarity at work. China was building its own solar industry, so it hacked a U.S. rival to leapfrog in technology.

    China has made major investments in its cyber-espionage capabilities.

    Boosting trade barriers can fan the flames

    Crucially, cutting trade ties doesn’t remove this rivalry. If anything, decoupling might intensify it. When the U.S. and China exchange tariff blows or cut off tech transfers, it doesn’t make China give up – it likely pushes Chinese intelligence agencies to work even harder to steal what they can’t buy.

    This dynamic isn’t unique to China. Any country that suddenly loses access to an important technology may turn to espionage as Plan B.

    History provides examples. When South Africa was isolated by sanctions in the 1980s, it covertly obtained nuclear weapons technology. Similarly, when Israel faced arms embargoes in the 1960s, it engaged in clandestine efforts to get military technology. Isolation can breed desperation, and hacking is a low-cost, high-reward tool for the desperate.

    If decoupling won’t end cyber espionage, what will?

    There’s no easy fix for state-sponsored hacking as long as countries remain locked in high-tech competition. However, there are steps that can mitigate the damage and perhaps dial down the frequency of these attacks.

    One is investing in cyber defense. Just as a homeowner adds locks and alarms after a burglary, companies and governments should continually strengthen their cyber defenses. Assuming that espionage attempts are likely to happen is key. Advanced network monitoring, employee training against phishing, and robust encryption can make it much harder for hackers to succeed, even if they keep trying.

    Another is building resilience and redundancy. If you know that some secrets might get stolen, plan for it. Businesses can shorten product development cycles and innovate faster so that even if a rival copies today’s tech, you’re already moving on to the next generation. Staying ahead of thieves is a form of defense, too.

    Ultimately, rather than viewing tariffs and export bans as silver bullets against espionage, U.S. leaders and industry might be safer focusing on resilience and stress-testing cybersecurity firms. Make it harder for adversaries to steal secrets, and less rewarding even if they do.

    William Akoto 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. Blocking exports and raising tariffs is a bad defense against industrial cyber espionage, study shows – https://theconversation.com/blocking-exports-and-raising-tariffs-is-a-bad-defense-against-industrial-cyber-espionage-study-shows-258243

    MIL OSI – Global Reports –

  • MIL-OSI Global: Grover Norquist’s lasting influence on the GOP and US economic policy

    Source: The Conversation – USA – By Gibbs Knotts, Professor of Political Science, Coastal Carolina University

    Grover Norquist, president of Americans for Tax Reform, speaks on Capitol Hill on Nov. 7, 2017. Alex Wong/Getty Images

    In the “one, big, beautiful bill,” President Donald Trump has called for substantial decreases in federal domestic spending. However, a schism emerged between Republican lawmakers during the budget debates in Congress.

    Some Republicans in blue states called for a tax increase for the wealthiest Americans, prompting longtime anti-tax advocate Grover Norquist to call the increase an “incredibly destructive idea economically, and very foolish politically.”

    As he has done since the 1980s, Norquist demonstrated his influence over the GOP. Since Trump’s second inauguration, he has appeared in several high-profile news stories about the budget, including a Washington Post article where he said, “Tax cuts are income to Americans and a loss to the bureaucracy.”

    Ultimately, the tax increase was defeated, and the Trump budget proposal passed the House on May 22, 2025.

    Norquist praised the leadership from Speaker Mike Johnson and Majority Leader Steve Scalise, saying taxpayers owe them “bigly for managing a narrow Republican House Majority that was united and committed to reducing taxes on the American people.”

    As scholars of U.S. politics, we examined Norquist’s emergence, traced debates about the scope and size of the American government and assessed Norquist’s relevance in the Donald Trump era, where he continues to wield considerable sway in the Republican Party.

    The conscience of a conservative

    In 1960, a slim, 123-page book changed the trajectory of American conservative thought.

    “The Conscience of a Conservative,” written by Barry Goldwater, laid out the premise that an expansive federal bureaucracy was the root evil of government.

    Four years later, Ronald Reagan launched his political career with a speech supporting Goldwater. His words echoed Goldwater: “No government ever voluntarily reduces itself in size … a government bureau is the nearest thing to eternal life we’ll ever see on this earth.”

    Reagan ended the speech by noting, “You and I have a rendezvous with destiny.” Goldwater wouldn’t manifest that destiny, but Reagan, 16 years later, took this vision of fiscal conservatism to the White House.

    By the 1980s, Goldwater’s limited government creed had become part of Republican dogma. Government wasn’t just bloated, according to Reagan. It was, as he noted, the problem. The Reagan presidency ushered in the doctrine of supply-side economics, which rests on the premise that tax cuts are key to stimulating economic growth.

    Norquist’s emergence

    Into this landscape stepped a young Norquist.

    He had cut his teeth at the National Taxpayer’s Union, a fiscally conservative taxpayer advocacy group. Then, in 1981, he became the executive director of the College Republican National Committee.

    In the first issue of CR Report, a college Republican newsletter, Norquist’s position as executive director was announced, and he provided a list of suggested readings. Among the titles he recommended were Goldwater’s “Conscience,” Milton Friedman’s “Capitalism and Freedom” and Friedrich Hayek’s “The Road to Serfdom.”

    In 1985, Norquist founded Americans for Tax Reform to support his tax reduction efforts. As Norquist noted, “The tax issue is one thing everyone agrees on.”

    He and his organization effectively institutionalized a permanent tax revolt in Congress supported by his “Taxpayer Protection Pledge,” a promise made starting in 1986 to oppose all efforts to increase marginal tax rates or reduce deductions or credits.

    The pledge became a litmus test for fiscally conservative GOP candidates and cemented the party’s anti-tax stance.

    Feeling this pressure, GOP nominee George H.W. Bush delivered his famous line, “read my lips, no new taxes,” at the 1988 Republican National Convention. Those six words were repeatedly used by primary challenger Pat Buchanan and Bush’s opponent in the general election, Bill Clinton, to raise questions about Bush’s honesty – since he made a pledge that he was unable to keep.

    Newt Gingrich, speaker of the House of Representatives, holds up a copy of the ‘Contract With America’ during a speech on the steps of the U.S. Capitol in April 1995.
    Richard Ellis/AFP via Getty Images

    With Clinton in the White House in 1994, Norquist helped House Minority Whip Newt Gingrich write the “Contract with America” to legislate fiscal conservatism. Weaponizing government shutdowns and setting a more confrontational tone, congressional Republicans successfully rolled back welfare programs, reduced the size of government and cut taxes.

    In 1995, they came two votes shy in the Senate of approving an amendment to the Constitution that would have required the federal budget to be balanced – with no borrowing – every year.

    Anti-tax conservatism in the 21st century

    In 2001, Norquist told a reporter at The Nation: “My goal is to cut government in half in twenty-five years to get it down to the size where we can drown it in the bathtub.”

    This objective would have to wait during the George W. Bush presidency. Resulting in part from the Sept. 11 terrorist attacks, the Bush administration saw dramatic expansions of federal power and spending in homeland security, defense and Medicare, as well as a large increase in the budget deficit.

    The tea party movement, a fiscally conservative political group, was formed in response to these Bush-era increases and two signature programs of the Barack Obama administration: the massive stimulus package, the American Recovery and Reinvestment Act, and his signature health care reform, the Affordable Care Act.

    Norquist reveled in renewed attention to tax policies and the size of government, urging readers of The Guardian to “join the Tea Party movement.”

    Norquist’s continuing legacy

    For more than four decades, Norquist has been a relentless advocate for fiscal conservatism. He is the living embodiment of an ideological thread that stretches from Goldwater to Reagan to Gingrich to current GOP leadership.

    Grover Norquist waits for the arrival of President Donald Trump in the East Room of the White House on March 21, 2019.
    AP Photo/Evan Vucci

    The ongoing debates about the Trump budget are just the latest example of Norquist’s influence. He continues to play an active role in debates about the federal budget and still has considerable sway with Republicans.

    However, Norquist’s uncompromising stance on taxes has coincided with increases in federal spending, surging budget deficits and increased national debt.

    That additional debt is accumulating because many Republicans have adopted his anti-tax position while simultaneously increasing defense budgets, maintaining or expanding entitlement spending and lowering taxes on the wealthiest Americans.

    Nevertheless, Norquist continues to be the fiscal conscience of the Republican Party. Politicians come and go. Powerful ideas, and those who champion them, endure.

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

    – ref. Grover Norquist’s lasting influence on the GOP and US economic policy – https://theconversation.com/grover-norquists-lasting-influence-on-the-gop-and-us-economic-policy-256978

    MIL OSI – Global Reports –

  • MIL-OSI Africa: eQUB brings Ethiopia’s traditional saving system into the digital age


    Download logo

    Fintech company eQUB is digitizing Ethiopia’s traditional savings culture through its mobile app. With support from the NTF V Tech project in Ethiopia, the business is bringing a trusted community system online to improve financial access, transparency and inclusion.

    In Ethiopia, informal saving groups known as ‘equb’ have long helped people access money when formal credit options are limited. It’s a system built on trust, and used by friends, neighbours, and families who pool funds and take turns receiving the total contribution. Now, that familiar tradition is being transformed into a digital platform with global potential.

    With support from the Netherlands Trust Fund V (NTF V) Programme at the International Trade Centre (ITC), Ethiopian fintech company eQUB has developed an app that digitises this centuries-old savings model. Users can create and join groups online, manage contributions, automate payments and record-keeping, and access features such as digital withdrawals and customer support.

    Where the idea came from

    In 2018, eQUB co-founder and CEO Alexander Abay Hizikias struggled to access funding for his business. ‘Banks want collateral that most early-stage entrepreneurs don’t have, and microfinance loans are expensive,’ he says. ‘I ended up joining a traditional equb to get the money I needed, and it made me realize this system could work better if it was digital.’

    After nearly two years of development, eQUB was officially registered in 2020. The first version of the app was based on assumptions, but user feedback quickly showed the team what needed to change. That led to a much-improved second version, shaped by real user input and behaviour.

    The eQUB App is now available in English and four local languages. It offers two main options. In private groups, people who already know each other can manage their equb through the app, using features like automatic record-keeping and secure payments. In public groups, individuals can join others with similar savings goals. The app helps match members and handles the draw system fairly.

    Backed by global support and exposure

    eQUB’s growth has picked up speed since joining the NTF V Ethiopia Tech project. The programme has provided technical training, mentoring, and financial support to help the company take part in international trade shows and startup events.

    Since then, the number of users has grown from 25,000 to over 110,000. Monthly savings through the platform now exceed eight figures in Ethiopian birr, and eQUB is on track to surpass 100 million birr ($720,000) in total savings processed by 2026.

    eQUB gained further recognition at the Mobile World Congress (MWC) and 4YFN (Four Years From Now) in Barcelona, two of the world’s leading platforms for mobile innovation and startups, where it won the Best FinTech Pitch award in 2024. 

    The company also topped the FinTech category at AfricArena Johannesburg, standing out among strong competitors from across the African continent. These wins attracted interest from global investors, some of whom have since visited eQUB’s headquarters in Addis Ababa.

    At the AfricArise Scale Programme, which included mentorship from experienced founders, cloud infrastructure specialists, and finance professionals, eQUB won $50,000 in Amazon Web Services credits at events in Johannesburg and London. These resources have helped reduce the costs of scaling the platform’s technical infrastructure.

    Local impact, global relevance

    The company has already identified similar saving systems in other African countries that follow the same model, such as ‘susu’ in Ghana, ‘esusu’ in Nigeria and ‘stokvels’ in South Africa. 

    ‘People in these countries are already familiar with community savings,’ says Hizikias. ‘Instead of introducing unfamiliar digital banking products, we’re building on what people already trust and making it more secure and trackable.’

    To support this, the eQUB App is developing a credit scoring system based on users’ savings and payout history. ‘Right now, if someone has participated in an equb for 10 years, they have no proof of financial reliability. Our platform creates a digital trail that could help them access formal credit down the line,’ he says.

    Hizikias also has advice for other fintech founders. ‘Before you raise money, prove your product works. Start small, find early users, and focus on solving real problems. Then use international platforms to test your idea against global standards. That’s where you’ll really learn and grow.’

    As eQUB enters its next phase of growth, the company is actively raising its first seed funding round, which it aims to close by the end of 2025. With a growing user base, international recognition, and deep cultural relevance, eQUB is showing how local innovation, when supported and scaled well, can compete and succeed globally.

    Distributed by APO Group on behalf of International Trade Centre.

    MIL OSI Africa –

  • MIL-OSI Africa: Minister of Planning, Economic Development and International Cooperation Meets Representatives of Chinese Business Community and Investors on Sidelines World Economic Forum (WEF) Meetings in Tianjin


    Download logo

    H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, held an expanded meeting with a number of leaders and representatives of the Chinese business community, with the participation of Eng. Hassan El-Khatib, Minister of Investment and Foreign Trade.

    The meeting took place during her participation in the World Economic Forum’s Annual Meeting in Tianjin, China, and included several CEOs from Chinese companies in the automotive, pharmaceutical, financial, and digital transformation sectors, among others.

    During the meeting, H.E. Minister Al-Mashat emphasized the deep and distinguished Egyptian-Chinese relations, which span decades of close cooperation based on mutual respect and common interests. She noted that the comprehensive strategic partnership between the two countries, launched in 2014, represents a successful model for South-South cooperation and contributes to achieving mutual development.

    H.E. Dr. Al-Mashat pointed out that in recent years, the Egyptian state has adopted an ambitious program of economic and structural reform aimed at enhancing the investment environment, stimulating private sector participation, and developing infrastructure. This creates promising opportunities for joint investment in priority sectors such as industry, renewable energy, telecommunications, technological infrastructure, and logistics.

    H.E. Dr. Al-Mashat reiterated that China is a key partner in this vision, as economic relations between the two countries are witnessing remarkable development, both in terms of trade volume and direct investments. She highlighted the unique investment opportunities Egypt offers, based on its distinguished geographical location, a network of free trade agreements, and legislative frameworks that support business growth.

    H.E. Minister Al-Mashat added that the Egyptian government seeks to strengthen cooperation with Chinese companies and institutions wishing to expand into the Egyptian market, especially within the framework of Egypt’s Vision 2030, which includes targets related to sustainable growth, green transformation, and the localization of strategic industries.

    H.E. Dr. Al-Mashat reaffirmed that the government is working to consolidate macroeconomic stability and preserve development gains to deal with successive regional and international challenges. She noted that the state continues to implement a comprehensive program of economic and structural reforms aimed at enhancing the economy’s resilience, improving the business climate, and expanding the growth base led by the private sector. She mentioned that these reforms, along with continuous investments in infrastructure and legislative modernization, make Egypt an attractive and growing destination for foreign direct investment.

    At the conclusion of the meeting, H.E. Minister Al-Mashat invited the Chinese business community to take advantage of cooperation opportunities with Egypt as a gateway to African, Middle Eastern, and European markets. She stressed the state’s commitment to providing all means of support to serious investors and building long-term partnerships that contribute to achieving common interests and balanced development.

    It is worth noting that the Ministry of Planning, Economic Development and International Cooperation, in its role of developing and strengthening economic relations with development partners, is working to advance relations on various levels with the Chinese side, particularly in the field of exchanging expertise and technology and enhancing scientific research. The Chinese side contributes to supporting and developing Egyptian expertise in the field of satellite assembly and testing, and training Egyptian cadres.

    In 2023, a Memorandum of Understanding for the Global Development Initiative (GDI) was signed during Dr. Rania Al-Mashat’s visit to China. This MoU lays the foundation for a new phase of joint work with the Chinese side. Through this, an integrated strategy for development cooperation between Egypt and China for 3-5 years will be formulated for the first time in light of the joint relations between the two countries. The two countries also signed their first MoU for debt-for-development swap, which the Ministry of Planning, Economic Development and International Cooperation is working to activate.

    Distributed by APO Group on behalf of Ministry of Planning, Economic Development, and International Cooperation – Egypt.

    MIL OSI Africa –

  • MIL-OSI: InformData Launches Monitoring Product Suite, Providing Real-Time Access to Verifiable People Data

    Source: GlobeNewswire (MIL-OSI)

    • The solutions provide always-on visibility into emerging risk, enabling companies across industries to identify and implement solutions before problems arise.
    • InformData provides coverage across 97% of the U.S. population and 92% of court records.
    • The launch of the product suite echoes InformData’s mission to turn data into trust and enable businesses to make timely, informed and confident decisions.

    KENNESAW, Ga., June 25, 2025 (GLOBE NEWSWIRE) — InformData, a trusted leader in delivering verifiable people data for businesses, announced the launch of its Monitoring product suite, designed to give organizations real-time visibility into potential workforce risks. The offerings provide businesses with earlier alerts, broader coverage, and a cost-effective, modern alternative to monitoring behaviors related to risk.

    InformData’s monitoring solutions cover 97% of the U.S. population and 92% of US courts, providing employers, insurers and compliance leaders with consistent and timely insights, and the ability to act on risk as it arises. By closing long-standing visibility gaps in traditional point-in-time background checks and motor vehicle records (MVRs), the platform reduces employer liability by instantly flagging incidents as soon as court filings appear or arrests occur.

    “In today’s environment, risk doesn’t wait, and neither should the systems designed to detect it,” said Andrew Feigenson, CEO of InformData. “We developed these solutions to help our partners move to a world of continuous, contextual intelligence. Our platform gives businesses–from CRAs to gig economy companies and healthcare providers–the clarity and transparency needed to act decisively and responsibly in fast-moving environments.”

    Key features include:

    • Real-time alerts and court-sourced updates, refreshed every 60 seconds
    • Behavioral insights categorized by role, geography, and department
    • Identity confidence scores to assess match accuracy for each case
    • Earlier visibility into violations, as well as insight into driving-related violations that don’t appear on standard MVRs
    • Seamless integration with HRIS, ATS, and compliance systems

    Monitoring Solutions Applications
    The initial monitoring solutions include criminal and driver monitoring, which enable employers to identify potential risks before they arise. For industries such as logistics, healthcare and commercial insurance, InformData’s always-on behavioral risk monitoring model enables employers to intervene early, and focus on implementing solutions such as training opportunities, reassignments, or deeper reviews.

    InformData’s driver monitoring solution addresses the growing need for an alternative to traditional MVR monitoring and point-in-time screening methods. Companies are now able to tailor HR, trust and safety, and compliance processes based on their specific industry and business needs, and ultimately gain more visibility and a deeper and more holistic understanding of driver behavior.

    “Our partnership with InformData enables our clients to have a clear pulse on driver related incidents in real-time, which is essential in ensuring safety within the transportation industry,” said Yervand Akopyan, CTO of New Era Titans. “By creating a compliant and affordable monitoring workflow, we’re ensuring that businesses can make informed decisions, reduce risk, and keep their employees safe.”

    InformData’s Monitoring products are now available through the company’s Connect platform. Learn more or request a demo here.

    About InformData
    InformData is a trusted provider of verifiable people data, providing businesses seamless access to the insights they need to build secure, trust-filled environments. By leveraging deep data connections, InformData delivers comprehensive identity, credential, behavioral and affiliation data across both domestic and global markets. With accurate, actionable intelligence, businesses can make confident decisions, strengthen compliance, and foster meaningful relationships throughout their ecosystems.

    Media Contact:
    Kite Hill for InformData
    informdata@kitehillpr.com

    The MIL Network –

  • MIL-OSI: Powerhouse Lending Team Expands Rate’s Leadership in the Dallas Market

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, June 25, 2025 (GLOBE NEWSWIRE) — Rate, a leading fintech company, proudly highlights Shane Masterman and Kristin Dail—two Chairman’s Circle Award-winning SVPs in Dallas, Texas— specializing in real estate financing for some of the area’s most sophisticated clients, ranging from traditionally employed borrowers and property investors to business owners and independent contractors.

    Known for their exceptional service and deep roots in the Dallas community, Masterman and Dail have built a business focused on delivering premium lending solutions to well-qualified homebuyers. Since their move to Rate in December 2018, Masterman and Dail have closed approximately $750 million in home loans. A key differentiator that sets them apart is access to Rate’s exclusive Portfolio loan programs, designed for today’s diverse borrowers. These products offer exceptional flexibility with fewer headaches and significantly less paperwork than traditional options.

    Even in one of the nation’s most challenging markets, Masterman and Dail consistently close complex transactions in half the time of conventional lenders, giving their clients a decisive edge when timing is everything.

    Through these proprietary lending solutions, their borrowers can:

    • Secure jumbo financing with reduced down payments and flexible terms, freeing up capital for higher-yield investments.
    • Qualify using business cash flow or 1099s instead of tax returns—perfect for business owners and independent contractors.
    • Leverage personal assets for qualification, without liquidating investments.
    • Invest in real estate based solely on property cash flow—ideal for building or expanding their real estate holdings.
    • Buy before they sell—close on a new home purchase without needing to list their current one first.

    “We’ve seen firsthand how high-touch, high-performance teams can accelerate growth in competitive markets,” said John Stewart, Chief Production Officer, East at Rate. “Shane and Kristin are the embodiment of that model in Dallas—trusted, proven, and perfectly positioned to help clients finance their dream homes.”

    In a region where market dynamics shift quickly and client expectations are high, Masterman and Dail’s ability to combine local expertise, white-glove service, and innovative lending options continues to set them apart in Dallas and beyond.

    About Rate
    Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, Rate has over 850 branches across all 50 states and Washington, D.C. Since its launch in 2000, Rate has helped more than 2 million homeowners with home purchase loans and refinances. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates, and delivering unparalleled customer service. Honors and awards include: Top 5 Mortgage Lender by Inside Mortgage Finance for 2024; Best Mortgage Lender for First-Time Homebuyers by NerdWallet for 2023; HousingWire’s Tech100 award for the company’s industry-leading FlashClose℠ digital mortgage platform in 2020, MyAccount in 2022, and Language Access Program in 2023; the most Scotsman Guide Top Originators for 11 consecutive years; Chicago Agent Magazine’s Lender of the Year for seven consecutive years. Visit rate.com for more information.

    Media Contact:
    press@rate.com

    The MIL Network –

  • MIL-OSI: Trident and Democratic Republic of Congo Sign Final Digital Identity Partnership and Launch Nationwide “DRCPass” Deployment

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE and KINSHASA, June 25, 2025 (GLOBE NEWSWIRE) — Trident Digital Tech Holdings Ltd. (“Trident” or the “Company,” NASDAQ: TDTH), a Singapore-based catalyst for digital transformation and Web 3.0 activation, today announced that it has signed the definitive public-private partnership (PPP) agreement with the Government of the Democratic Republic of Congo (“DRC” or “Republic”). The contract paves the way for nationwide deployment of “DRCPass,” the Republic’s robust national digital identification system, to be rolled out in phases with an accompanying public-education campaign.

    The agreement represents the capstone of the collaboration framework established in December 2024 between Trident and the Office of the President, forming the cornerstone of the DRC’s e-government and digital-identity initiative. Under the accord, Trident is the Republic’s exclusive provider of electronic Know Your Customer (“e-KYC”) services, delivering the Web 3.0-based national digital identity.

    Soon Huat Lim, Founder, Chairman, and Chief Executive Officer of Trident, and H.E. Augustin Kibassa Maliba, Minister of Posts, Telecommunications, and Digital Affairs of the Democratic Republic of Congo, at the signing event.

    e-KYC technology streamlines identity verification for organizations while enhancing security. Trident’s deployment will focus on four core use cases:

    1.  SIM-card registration: biometric-blockchain binding of the SIM to a verified citizen record, eradicating “ghost” lines and cutting operator-fraud losses and regulatory fines in real time.

    2.  Seamless access to e-government and business portals: with single-sign-on (SSO), Congolese can access and conduct transactions easily with public and private institutions through one log-in.

    3.  Digital payments enablement: one-click e-KYC that auto-scores risk and unlocks instant credit, driving formal financial access beyond the siloed, branch-first systems in use today.

    4.  Digital Citizen Identity: centralized and secure identity record that complements physical IDs, giving Congolese a verifiable digital credential for public and private-sector transactions.

    After registering for their national ID, citizens will be able to download the “Tridentity” mobile application and enroll their DRCPass, which uses secure single-sign-on (SSO) to access authorized applications and websites.

    “Over the past several months our teams have worked hand-in-hand with the DRC government to prepare for this moment. We commend the Republic’s leadership for embracing a digital future and look forward to supporting a nationwide rollout that others in Africa will surely emulate,” said Soon Huat Lim, Founder, Chairman and Chief Executive Officer of Trident.

    “Today marks more than the signing of a partnership contract with Trident Digital Tech; it marks a defining chapter in the digital rebirth of our nation. By launching the national digital identification system, we lay a cornerstone for a Democratic Republic of Congo that is digitally sovereign, financially inclusive, and resilient to tomorrow’s challenges. As we begin phased deployment of DRCPass, we are not merely adopting innovation; we are shaping the future of governance in Africa,” said H.E. Augustin Kibassa Maliba, Minister of Posts, Telecommunications and Digital Affairs of the DRC.

    According to GSMA Intelligence, the DRC has more than 80 million mobile subscribers and an expanding base of banked citizens populations that will directly benefit from secure e-KYC services.

    About Trident
    Trident is a leading catalyst for digital transformation in technology optimization and Web 3.0 activation. Its flagship product, Tridentity, is a blockchain-based identity platform that is designed to deliver secure single-sign-on authentication across diverse industries. Trident’s mission is to become a global leader in Web 3.0 enablement, connecting organizations to reliable and secure digital infrastructure with optimized user experiences, with a strong focus on Southern Africa and other high-growth markets.

    Safe Harbor Statement
    This announcement contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in announcements and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, including the possibility that the national digital identification system and the e-KYC process will not materialize as contemplated under the PPP agreement. A number of factors could also cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the risk and uncertainties as to the timing of the implementation of the agreement; potential adverse reactions or changes to business relationships; adverse changes in general economic or market conditions; and actions by third parties, including government agencies; the Company’s strategies, future business development, and financial condition and results of operations; the expected growth of the digital solutions market; the political, economic, social and legal developments in the jurisdictions that the Company operates in or in which the Company intends to expand its business and operations; the Company’s ability to maintain and enhance its brand. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this announcement is as of the date of this announcement, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    Investor & Media Contacts
    Investor Relations
    Robin Yang, Partner – ICR LLC
    investor@tridentity.me | +1 (212) 321-0602

    Media Relations
    Brad Burgess, SVP – ICR LLC
    brad.burgess@icrinc.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8672d8e2-07e1-4248-9dc8-3cae467061a5

    The MIL Network –

  • MIL-OSI: Trident and Democratic Republic of Congo Sign Final Digital Identity Partnership and Launch Nationwide “DRCPass” Deployment

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE and KINSHASA, June 25, 2025 (GLOBE NEWSWIRE) — Trident Digital Tech Holdings Ltd. (“Trident” or the “Company,” NASDAQ: TDTH), a Singapore-based catalyst for digital transformation and Web 3.0 activation, today announced that it has signed the definitive public-private partnership (PPP) agreement with the Government of the Democratic Republic of Congo (“DRC” or “Republic”). The contract paves the way for nationwide deployment of “DRCPass,” the Republic’s robust national digital identification system, to be rolled out in phases with an accompanying public-education campaign.

    The agreement represents the capstone of the collaboration framework established in December 2024 between Trident and the Office of the President, forming the cornerstone of the DRC’s e-government and digital-identity initiative. Under the accord, Trident is the Republic’s exclusive provider of electronic Know Your Customer (“e-KYC”) services, delivering the Web 3.0-based national digital identity.

    Soon Huat Lim, Founder, Chairman, and Chief Executive Officer of Trident, and H.E. Augustin Kibassa Maliba, Minister of Posts, Telecommunications, and Digital Affairs of the Democratic Republic of Congo, at the signing event.

    e-KYC technology streamlines identity verification for organizations while enhancing security. Trident’s deployment will focus on four core use cases:

    1.  SIM-card registration: biometric-blockchain binding of the SIM to a verified citizen record, eradicating “ghost” lines and cutting operator-fraud losses and regulatory fines in real time.

    2.  Seamless access to e-government and business portals: with single-sign-on (SSO), Congolese can access and conduct transactions easily with public and private institutions through one log-in.

    3.  Digital payments enablement: one-click e-KYC that auto-scores risk and unlocks instant credit, driving formal financial access beyond the siloed, branch-first systems in use today.

    4.  Digital Citizen Identity: centralized and secure identity record that complements physical IDs, giving Congolese a verifiable digital credential for public and private-sector transactions.

    After registering for their national ID, citizens will be able to download the “Tridentity” mobile application and enroll their DRCPass, which uses secure single-sign-on (SSO) to access authorized applications and websites.

    “Over the past several months our teams have worked hand-in-hand with the DRC government to prepare for this moment. We commend the Republic’s leadership for embracing a digital future and look forward to supporting a nationwide rollout that others in Africa will surely emulate,” said Soon Huat Lim, Founder, Chairman and Chief Executive Officer of Trident.

    “Today marks more than the signing of a partnership contract with Trident Digital Tech; it marks a defining chapter in the digital rebirth of our nation. By launching the national digital identification system, we lay a cornerstone for a Democratic Republic of Congo that is digitally sovereign, financially inclusive, and resilient to tomorrow’s challenges. As we begin phased deployment of DRCPass, we are not merely adopting innovation; we are shaping the future of governance in Africa,” said H.E. Augustin Kibassa Maliba, Minister of Posts, Telecommunications and Digital Affairs of the DRC.

    According to GSMA Intelligence, the DRC has more than 80 million mobile subscribers and an expanding base of banked citizens populations that will directly benefit from secure e-KYC services.

    About Trident
    Trident is a leading catalyst for digital transformation in technology optimization and Web 3.0 activation. Its flagship product, Tridentity, is a blockchain-based identity platform that is designed to deliver secure single-sign-on authentication across diverse industries. Trident’s mission is to become a global leader in Web 3.0 enablement, connecting organizations to reliable and secure digital infrastructure with optimized user experiences, with a strong focus on Southern Africa and other high-growth markets.

    Safe Harbor Statement
    This announcement contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in announcements and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, including the possibility that the national digital identification system and the e-KYC process will not materialize as contemplated under the PPP agreement. A number of factors could also cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the risk and uncertainties as to the timing of the implementation of the agreement; potential adverse reactions or changes to business relationships; adverse changes in general economic or market conditions; and actions by third parties, including government agencies; the Company’s strategies, future business development, and financial condition and results of operations; the expected growth of the digital solutions market; the political, economic, social and legal developments in the jurisdictions that the Company operates in or in which the Company intends to expand its business and operations; the Company’s ability to maintain and enhance its brand. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this announcement is as of the date of this announcement, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    Investor & Media Contacts
    Investor Relations
    Robin Yang, Partner – ICR LLC
    investor@tridentity.me | +1 (212) 321-0602

    Media Relations
    Brad Burgess, SVP – ICR LLC
    brad.burgess@icrinc.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8672d8e2-07e1-4248-9dc8-3cae467061a5

    The MIL Network –

  • MIL-OSI: zerohash Adds Native USDC Support on World Chain

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, June 25, 2025 (GLOBE NEWSWIRE) — zerohash, the leading on-chain infrastructure platform, today announced that it has enabled native support for USDC on World Chain, the blockchain designed for real humans. This expansion of the partnership follows the launch of real-time account funding in World’s Kalshi Mini App, powered by zerohash.

    Through its regulated affiliates, Circle issues USDC and recently upgraded World’s 28 million users from bridged USDC into native USDC. zerohash enables instant liquidity between USDC and USD, unlocking everyday utility for these users.

    zerohash provides critical infrastructure connectivity to traditional and fintech businesses. zerohash is trusted by the world’s leading enterprises including Stripe, Shift4, Bolt, and Simplex by Nuvei to build real-world stablecoin solutions across trading, payments, and tokenization.

    “We’re focused on expanding access to the digital economy for the real human network, and zerohash is helping to power this mission,” said Patrick Traughber, Head of Financial Products at Tools for Humanity, a key contributor to World. “zerohash’s support for native USDC on World unlocks greater opportunity and access for developers building solutions to enable seamless everyday finance on World Chain.”

    “We are delighted to deepen our partnership with World by enabling native USDC support,” said Edward Woodford, CEO and Founder of zerohash. “We look forward to continuing to simplify access to stablecoin technology for developers, so they can build new and novel stablecoin use cases cross-chain, and tap into the millions of global USDC holders on World Chain.”

    zerohash now supports USDC on an industry-leading 15 networks. Its infrastructure abstraction layer solves cross-chain interoperability, enabling value to move on-chain, anytime, anywhere, by anyone.

    About zerohash
    zerohash is the leading infrastructure provider for crypto, stablecoin, and tokenized assets. Its API and embeddable dev-kit enables innovators to easily launch solutions across cross-border payments, commerce, trading, remittance, payroll, tokenization, and on/off-ramps.

    zerohash powers solutions for some of the largest and innovative companies including Interactive Brokers, Stripe, Shift4, Franklin Templeton, Felix Pago, Kalshi, and LightSpark. Zerohash Holdings is backed by investors, including Point72 Ventures, Bain Capital Ventures, and NYCA.

    In the United States, Zero Hash LLC is a FinCen-registered Money Service Business and a regulated Money Transmitter that can operate in 51 U.S. jurisdictions. Zero Hash LLC and Zero Hash Liquidity Services LLC are licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Zero Hash Trust Company LLC has been approved by the North Carolina Commissioner of Banks as a non-depository trust company. For information about our global regulatory footprint, including our Argentinian registrations, see here.

    zerohash Disclosures

    The zerohash services and product offerings may not be available in all jurisdictions, including in the State of New York. Crypto and stablecoin holdings held in zerohash accounts are not subject to FDIC or SIPC protections in the U.S., or any such equivalent protections that may exist outside of the U.S. zerohash’s technical support and enablement of any asset is not an endorsement of such asset and is not a recommendation to buy, sell, or hold any crypto asset. The value of any cryptocurrency, including digital assets pegged to fiat currency, commodities, or any other asset, may go to zero.

    *Staking services are not available to New York customers.

    Learn more by visiting zerohash.com or following us on X @ZeroHashX

    Media Contacts
    zerohash
    Shaun O’Keeffe
    (855) 744-7333
    media@zerohash.com

    The MIL Network –

  • MIL-OSI Economics: Moody’s fully acquires ICR Chile, solidifying its leading position in key Latin American markets

    Source: Moody’s

    Headline: Moody’s fully acquires ICR Chile, solidifying its leading position in key Latin American markets

    Moody’s fully acquires ICR Chile, solidifying its leading position in key Latin American markets

    NEW YORK–(BUSINESS WIRE)– Moody’s Corporation (NYSE:MCO) announced today that it has fully acquired ICR Chile (ICR), a leading provider of domestic credit ratings in Chile. The transaction follows Moody’s 2019 acquisition of a minority stake in ICR and will further strengthen its presence in Latin America’s domestic credit markets.

    Following the transaction, ICR will continue issuing domestic ratings in Chile under its own rating process and methodologies. In the following months, ICR will be fully integrated into Moody’s Local, a group of leading credit rating agencies in Latin America.

    “Today’s acquisition builds on our successful partnership with ICR and underscores our commitment to Chile’s growing debt capital market,” said Martin Fernandez-Romero, Managing Director of Moody’s Local. “Bringing ICR into Moody’s Local will enhance our ability to provide high quality credit ratings, research, and analytical services to market participants, while contributing to greater transparency in Latin America.”

    Founded in 2005, ICR is renowned for its high-quality analyses and the expertise of its analytical teams. It provides ratings across a diverse range of sectors, including corporates, financial institutions, insurers, structured finance vehicles, funds, and project finance. Since Moody’s initial investment, ICR has gained market growth, driven by its in-depth credit analyses and the expansion of its coverage within Chile’s domestic ratings market.

    The terms of the transaction were not disclosed, and it will not have a material impact on Moody’s 2025 financial results.

    About Moody’s Local
     Moody’s Local is a group of domestic rating agencies covering 13 Latin America’s domestic financial markets. Moody’s Local provides domestic credit ratings, research and risk analyses to market professionals with methodologies and seasoned analysts that capture the unique risks and dynamics of each market. Learn more at moodyslocal.com.

    About Moody’s Corporation
     In a world shaped by increasingly interconnected risks, Moody’s (NYSE: MCO) data, insights, and innovative technologies help customers develop a holistic view of their world and unlock opportunities. With a rich history of experience in global markets and a diverse workforce of approximately 16,000 across more than 40 countries, Moody’s gives customers the comprehensive perspective needed to act with confidence and thrive. Learn more at moodys.com.

    “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995

    Certain statements included in this release are forward-looking statements and are based on future expectations, plans and prospects for Moody’s business and operations that involve a number of risks and uncertainties. Such statements involve estimates, projections, goals, forecasts, assumptions and uncertainties that could cause actual results or outcomes to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements. The forward-looking statements and other information in this document are made as of the date hereof, and Moody’s undertakes no obligation (nor does it intend) to publicly supplement, update or revise such statements on a going-forward basis, whether as a result of subsequent developments, changed expectations or otherwise, except as required by applicable law or regulation. In connection with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Moody’s is identifying certain factors that could cause actual results to differ, perhaps materially, from those indicated by these forward-looking statements. Those factors, risks and uncertainties include, but are not limited to: the uncertain effects of U.S. and foreign government actions affecting international trade and economic policy, including changes and volatility in tariffs and trade policies and retaliatory actions, on credit markets, customers and customer retention, and demand for our products and services; the impact of general economic conditions (including significant government debt and deficit levels, and inflation or recessions and related monetary policy actions by governments in response thereto) on worldwide credit markets and on economic activity, including on the level of merger and acquisition activity, and their effects on the volume of debt and other securities issued in domestic and/or global capital markets; the uncertain effects of U.S. and foreign government initiatives and monetary policy to respond to the current economic climate, including instability of financial institutions, credit quality concerns, and other potential impacts of volatility in financial and credit markets; the impact of geopolitical events and actions, such as the Russia-Ukraine military conflict and military conflict in the Middle East, and of tensions and disputes in political and global relations, on volatility in world financial markets, on general economic conditions and GDP in the U.S. and worldwide and on Moody’s own operations and personnel; other matters that could affect the volume of debt and other securities issued in domestic and/or global capital markets, including regulation, increased utilization of technologies that have the potential to intensify competition and accelerate disruption and disintermediation in the financial services industry, as well as the number of issuances of securities without ratings or securities which are rated or evaluated by non-traditional parties; the level of merger and acquisition activity in the U.S. and abroad; the impact of MIS’s withdrawal of its credit ratings on countries or entities within countries and of Moody’s no longer conducting commercial operations in countries where political instability warrants such actions; concerns in the marketplace affecting our credibility or otherwise affecting market perceptions of the integrity or utility of independent credit agency ratings; the introduction or development of competing and/or emerging technologies and products; pricing pressure from competitors and/or customers; the level of success of new product development and global expansion; the impact of regulation as an NRSRO, the potential for new U.S., state and local legislation and regulations; the potential for increased competition and regulation in the jurisdictions in which we operate, including the EU; exposure to litigation related to our rating opinions, as well as any other litigation, government and regulatory proceedings, investigations and inquiries to which Moody’s may be subject from time to time; provisions in U.S. legislation modifying the pleading standards and EU regulations modifying the liability standards applicable to CRAs in a manner adverse to CRAs; provisions of EU regulations imposing additional procedural and substantive requirements on the pricing of services and the expansion of supervisory remit to include non-EU ratings used for regulatory purposes; uncertainty regarding the future relationship between the U.S. and China; the possible loss of key employees and the impact of the global labor environment; failures or malfunctions of our operations and infrastructure; any vulnerabilities to cyber threats or other cybersecurity concerns; the timing and effectiveness of our restructuring programs; currency and foreign exchange volatility; the outcome of any review by tax authorities of Moody’s global tax planning initiatives; exposure to potential criminal sanctions or civil remedies if Moody’s fails to comply with foreign and U.S. laws and regulations that are applicable in the jurisdictions in which Moody’s operates, including data protection and privacy laws, sanctions laws, anti-corruption laws, and local laws prohibiting corrupt payments to government officials; the impact of mergers, acquisitions, or other business combinations and the ability of Moody’s to successfully integrate acquired businesses; the level of future cash flows; the levels of capital investments; and a decline in the demand for credit risk management tools by financial institutions, corporate or government entities. These factors, risks and uncertainties as well as other risks and uncertainties that could cause Moody’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements are described in greater detail under “Risk Factors” in Part I, Item 1A of Moody’s annual report on Form 10-K for the year ended December 31, 2024, and in other filings made by the Company from time to time with the SEC or in materials incorporated herein or therein. Stockholders and investors are cautioned that the occurrence of any of these factors, risks and uncertainties may cause the Company’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements, which could have a material and adverse effect on the Company’s business, results of operations and financial condition. New factors may emerge from time to time, and it is not possible for the Company to predict new factors, nor can the Company assess the potential effect of any new factors on it. Forward-looking and other statements in this document may also address our corporate responsibility progress, plans, and goals (including sustainability and environmental matters), and the inclusion of such statements is not an indication that these contents are necessarily material to investors or required to be disclosed in the Company’s filings with the Securities and Exchange Commission. In addition, historical, current, and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future.

    Source: Moody’s Corporation Investor Relations

    MIL OSI Economics –

  • MIL-OSI Economics: REPORT: Energy Storage Market Continues Strong Growth in Q1 2025

    Source: American Clean Power Association (ACP)

    Headline: REPORT: Energy Storage Market Continues Strong Growth in Q1 2025

    HOUSTON/WASHINGTON, D.C. June 25, 2025 — According to the new U.S. Energy Storage Monitor developed by Wood Mackenzie and the American Clean Power Association (ACP), the American energy storage market experienced record growth in Q1 2025—amidst current policy uncertainty.
    The U.S. energy storage market added more than 2 GW across all segments in Q1 2025, marking the highest Q1 on record. The utility-scale segment led the way with more than 1.5 GW of new capacity, representing a significant 57% increase compared to Q1 2024.
    “Surging energy demand is putting the electric grid under strain. The energy storage market is responding to help keep the lights on and support this unprecedented growth in an affordable and reliable way,” said John Hensley, ACP SVP of Markets and Policy Analysis. “Policy uncertainty is now one of the most significant risks that remains on the horizon as we tackle a balanced approach to allowing our economy to expand while maintaining the energy reliability that Americans deserve.”
    New horizons in the market
    The report shows there is a growing appetite across the country for deployment of grid-scale energy storage, as utilities, regulators, and communities further integrate the technology into their resource planning. In Q1 of 2025, states such as Indiana highlighted the geographic diversification that continues to take place as the market expands beyond early adopters such as Texas and California.
    The growing market in Indiana is made possible due to factors such as land availability and clear state permitting guidelines.

    Indiana added 256 MW of new storage to the grid in Q1 2025, effectively quadrupling its operational storage capacity.
    Indiana has more than 10 GW of new storage active in the interconnection queue—the fifth largest storage queue in the country.

    “We’re now seeing significant deployment of energy storage resources in emerging markets like Indiana, while states across the Southwest like Nevada and Arizona continue to expand their energy storage portfolio,” said ACP Vice President of Energy Storage, Noah Roberts. “Energy storage was the second most deployed resource in Q1 2025, demonstrating its unique ability to be quickly built to address critical reliability needs.”
    The residential storage market also saw significant year-over-year (YoY) growth, installing a record-breaking 458 MW in Q1. California and Puerto Rico accounted for 74% of this growth, while new markets like Illinois are beginning to emerge.
    A moment of policy uncertaintyThe total 5-year utility-scale capacity forecast remains strong. However, the segment is at risk for a potential 29% contraction in 2026 due to policy uncertainty.
    The community-scale, commercial, and industrial (CCI) segment has seen a 42% reduction in its five-year outlook, struggling with tariff uncertainty and slower-than-anticipated transition to NEM 3.0 projects in California.
    The report cautions that potential changes to current tax credits could significantly impact the industry’s overall growth. If access to the Investment Tax Credit (ITC) is severely reduced as proposed in the reconciliation bill passed by the House, it could lead to a 27% reduction in buildout over the forecast period. (Note: this report was developed before the U.S. Senate Finance Committee released its version of the reconciliation bill on June 16.)
    Distributed storage would be the most impacted segment, with a potential 46% drop from the base case over the next 5 years. Utility-scale installations would decrease by 16 GW over the next 5 years if the tax provisions are changed.
    In the near term, the report projects that 15 GW/49 GWh of energy storage capacity will be installed across all segments in 2025. The utility-scale segment is expected to grow 22% YoY in 2025.
    As the market evolves, continued innovation, supportive policies, and strategic planning will be crucial to navigate the changing landscape and capitalize on the immense potential of energy storage in the U.S. energy transformation.
    “The Q1 2025 results demonstrate the demand for energy storage in the US to serve a grid with both growing renewables and growing load. However, the industry stands at a crossroads, with potential policy changes threatening to disrupt this momentum,” said Allison Weis, Global Head of Energy Storage at Wood Mackenzie. “It’s crucial that policymakers understand the importance of stable, supportive policies for the continued expansion of energy storage.”
    Purchase the full report at ACP’s website.
    ###
    Wood Mackenzie’s media relations team
    Mark Thomton
    +1 630 881 6885
    [email protected]
    Hla Myat Mon+65 8533 8860
    [email protected]
    Chris Boba+44 7408 841129
    [email protected]
    Angélica Juárez
    +5256 4171 1980
    [email protected]
    About Wood Mackenzie
    Wood Mackenzie is the global insight business for renewables, energy and natural resources. Driven by data. Powered by people. In the middle of an energy revolution, businesses and governments need reliable and actionable insight to lead the transition to a sustainable future. That’s why we cover the entire supply chain with unparalleled breadth and depth, backed by over 50 years’ experience in natural resources. Today, our team of over 2,000 experts operate across 30 global locations, inspiring customers’ decisions through real-time analytics, consultancy, events and thought leadership. Together, we deliver the insight they need to separate risk from opportunity and make bold decisions when it matters most. For more information, visit woodmac.com.

    MIL OSI Economics –

  • MIL-OSI Africa: eThekwini Municipality cracks down on diesel theft

    Source: South Africa News Agency

    eThekwini Municipality cracks down on diesel theft

    The eThekwini Municipality has called on residents to report any instances of fraud and corruption following the arrest of a man implicated in a diesel theft syndicate targeting the city’s fuel supply system.

    According to the municipality, the suspect, who posed as a municipal employee, was apprehended while filling diesel at a petrol station used by the city’s fleet.

    This followed a tip-off to the Municipal City Fleet Directorate, which reported suspicious activity involving certain vehicles refuelling excessively, with some more than 10 times a day.

    A preliminary investigation conducted by the City Integrity and Investigations Directorate revealed that a municipal fuel master card, issued by the Water and Sanitation Directorate, was being fraudulently used by privately owned vehicles.

    According to the municipality, the fuel master being used was for a vehicle that has been stationary for a long time and marked for disposal.

    “The suspect had duplicated the number plate and branding on the side of the car doors to make it look similar to other municipal cars. in this instance, municipal employees were working with external people to conduct fraud and corruption.

    “The culprit had four vehicles fitted with a 750-litre fuel tank at the base of each single cab van. The diesel was stored in these tanks and resold. Each vehicle generated about R78 000 a day,” Director of the City Integrity and Investigations Directorate, Jimmy Ngcobo said.

    Ngcobo said the suspect, who did rounds everyday filling diesel at over 15 petrol stations around the city, was caught red-handed with assistance from the Metro Police and private company, Reaction Unit South Africa.

    At the time of the arrest, the suspect, who was wearing a municipal uniform admitted that he does not work for the city but employed by a private individual and earned R2000 a day.

    The suspect has since appeared in court on charges of fraud and corruption. The case was remanded to August 2025.

    “This is organised crime and should be dealt with seriously. The municipality has suffered a great financial loss, which is why we are calling on various stakeholders to report fraud and corruption when they see it happening,” Ngcobo said.

    The public can report fraud and corruption by calling 0800 20 20 20 or send an email to ombuds@durban.gov.za – SAnews.gov.za
     

    GabiK

    MIL OSI Africa –

  • MIL-OSI Africa: Norway calls for G20 Sherpa meeting to address ongoing global conflict

    Source: South Africa News Agency

    Norway calls for G20 Sherpa meeting to address ongoing global conflict

    Henrik Harboe of Norway has highlighted the crucial role of the third Sherpa meeting in addressing international crises, including the ongoing conflicts in Ukraine and Gaza, as well as the broader tensions in the Middle East. 

    “We are halfway through this year, only five months away from the summit in November, so we have a lot of work to formulate, what are the G20 recommendations to deal with all these international crises and the big issues around development and economic stability in the world,” he told SAnews. 

    The third Sherpa meeting of the G20 kicked off on Wednesday morning at the Sun City Resort in the North West. 

    “We’ll have a round [of discussions] about the G20’s role in the world in general. That’s very important. But then go straight into the geopolitical tensions. And then, of course, this being a group with a lot of different countries and different perspectives. 

    “But I think we’ll touch upon Russia’s war of aggression against Ukraine, the horrible crisis in Gaza as a result of Israel’s response to the terrorist attack. And then, of course, the recent developments in the broader Middle East, with both Israel and the US bombing of Iran,” he explained.

    The Director of Development Policy at the Norwegian Ministry of Foreign Affairs has expressed deep concern about recent developments. 

    He noted that these events involve multiple violations of international law and the United Nations (UN) Charter.

    “I mean, G20 is actually not about geopolitics, but we cannot avoid discussing geopolitical issues.”

    In his opening remarks, Zane Dangor, the Director-General of the Department of International Relations and Cooperation and South Africa’s G20 Sherpa, announced that the Foreign Ministers will have in-depth discussions on global geopolitical issues. 

    These discussions will focus on international law and mutual accountability, while emphasising the importance of prioritising substantive matters.

    In December last year, South Africa welcomed Norway as a G20 guest country during its Presidency. 

    In an interview with SAnews, Harboe, a Norwegian Sherpa, said South Africa was poised to make history as the first African nation to host the G20 Leaders’ Summit. 

    According to Harboe, the G20 focuses on sustainable development and a stable global economy to ensure growth for all countries.

    As the first Presidency in Africa, Harboe believes they will use their position to highlight critical issues such as energy security, essential minerals, and sustainable development.

    “All these issues are extremely important for Africa. So, we are very happy to see that and strongly support South Africa’s priority on these issues.” 

    The official is of the view that South Africa serves as a microcosm of global challenges, making its perspective crucial. 

    “South Africa has a huge poverty problem, job creation problem, inequality, and these are exactly the issues. 

    “So, I think what we discussed around the G20 table is relevant for the world and developing countries, but also very much for Africa, and South Africa. South Africa’s own experience is extremely relevant for this broader discussion. I always encourage South African colleagues to talk about the challenges here.” 

    He mentioned that he had attended a Just Energy Transition programme. He said while South Africa’s energy situation is challenging, it also serves as a valuable example for the world on how to conduct an energy transition in a fair manner while also creating job opportunities for young people.

    On a lighter note, he told the SAnews that he had a wonderful stay in Sun City since his arrival. 

    “I always love South Africa. It’s fantastic. Since I’m from Norway, the cold weather, I don’t mind, the fresh morning like today was just nice. The only problem this morning was a monkey, taking my bread on the breakfast table,” he said, with a chuckle. – SAnews.gov.za

    Gabisile

    MIL OSI Africa –

  • India’s economy resilient amid global uncertainties: RBI

    Source: Government of India

    Source: Government of India (4)

    India’s economy remains resilient despite heightened global uncertainties, with high-frequency indicators for May pointing to sustained growth across industrial and services sectors, the Reserve Bank of India (RBI) said on Wednesday in its monthly bulletin.

    The report noted broad-based growth in agricultural output for 2024-25, with most major crops seeing an uptick in production. Retail inflation remained subdued, staying below the target for the fourth consecutive month in May.

    “Financial conditions remained conducive to efficient transmission of rate cuts,” the bulletin said.

    The RBI observed that the global economy is in flux due to trade policy uncertainties and geopolitical tensions. However, India’s provisional GDP estimates for 2024-25 reaffirm growth at 6.5%, with a significant sequential pickup in the fourth quarter.

    Among countries surveyed for the Purchasing Managers’ Index (PMI), India posted the highest overall activity and was an outlier for new export orders in May amid contractions elsewhere. Capacity utilisation by manufacturing firms stayed above its long-term average.

    High-frequency demand indicators also signalled a pickup in rural demand, driven by strong agricultural output. Consumer confidence remained stable, with optimism about future prospects improving.

     

     

    Retail inflation stayed benign as food prices eased on the back of record crop production. Core inflation also remained stable, with some softening evident after excluding the impact of volatile gold and silver prices.

    Equity markets posted modest gains through May and June despite volatility on global cues, the report added. Markets rebounded on June 20 after a sharp dip driven by geopolitical tensions in the Middle East.

    Although credit growth moderated in April — notably in agriculture and services — non-bank sources of credit, including external commercial borrowings, remained robust. Financial conditions were supportive of rate cut transmission to the credit market, the report said.

    The RBI also noted that the external sector was resilient, with adequate foreign exchange reserves to cover imports and debt.

    IANS

  • India’s economy resilient amid global uncertainties: RBI

    Source: Government of India

    Source: Government of India (4)

    India’s economy remains resilient despite heightened global uncertainties, with high-frequency indicators for May pointing to sustained growth across industrial and services sectors, the Reserve Bank of India (RBI) said on Wednesday in its monthly bulletin.

    The report noted broad-based growth in agricultural output for 2024-25, with most major crops seeing an uptick in production. Retail inflation remained subdued, staying below the target for the fourth consecutive month in May.

    “Financial conditions remained conducive to efficient transmission of rate cuts,” the bulletin said.

    The RBI observed that the global economy is in flux due to trade policy uncertainties and geopolitical tensions. However, India’s provisional GDP estimates for 2024-25 reaffirm growth at 6.5%, with a significant sequential pickup in the fourth quarter.

    Among countries surveyed for the Purchasing Managers’ Index (PMI), India posted the highest overall activity and was an outlier for new export orders in May amid contractions elsewhere. Capacity utilisation by manufacturing firms stayed above its long-term average.

    High-frequency demand indicators also signalled a pickup in rural demand, driven by strong agricultural output. Consumer confidence remained stable, with optimism about future prospects improving.

     

     

    Retail inflation stayed benign as food prices eased on the back of record crop production. Core inflation also remained stable, with some softening evident after excluding the impact of volatile gold and silver prices.

    Equity markets posted modest gains through May and June despite volatility on global cues, the report added. Markets rebounded on June 20 after a sharp dip driven by geopolitical tensions in the Middle East.

    Although credit growth moderated in April — notably in agriculture and services — non-bank sources of credit, including external commercial borrowings, remained robust. Financial conditions were supportive of rate cut transmission to the credit market, the report said.

    The RBI also noted that the external sector was resilient, with adequate foreign exchange reserves to cover imports and debt.

    IANS

  • MIL-OSI Asia-Pac: Green maritime fuel supply chain set

    Source: Hong Kong Information Services

    Secretary for Transport & Logistics Mable Chan today attended the Mainland-Hong Kong Green Energy Matchmaking Event, which aims to provide a collaborative platform for relevant suppliers and companies with demand, to catalyse a comprehensive green maritime fuel supply chain and trade.

    The event was organised by the Trade Development Bureau of the Ministry of Commerce of the People’s Republic of China and co-organised by the Transport & Logistics Bureau (TLB) and the Department of Commerce of Guangdong Province.

    It was held simultaneously in Hong Kong and Shenzhen today. 

    More than 200 representatives from various enterprises gathered to exchange views and discuss collaborations in relation to fuel off-take and to sign relevant Memoranda of Understanding (MoUs).

    Speaking at the Hong Kong venue, Ms Chan said Hong Kong and the Mainland have strong complementarity in the development of green maritime fuels.

    “The Mainland’s core strength lies in the production of green fuels, while Hong Kong, as the southern gate of Mainland China and an international financial, trading and maritime centre, is not only home to a large number of international shipping enterprises, but also enjoys advantages such as free flow of capital, a financial and legal system that is in line with the rest of the world, and a trade settlement mechanism that allows immediate payment settlements.”

    She added that Hong Kong is the top bunkering centre in the Guangdong-Hong Kong-Macao Greater Bay Area, the second largest in the whole of China and ranks seventh globally.

    “By adopting the ‘north-to-south sales’ model, under which the high-quality green maritime fuels produced on the Mainland can be exported to the world through Hong Kong’s international trading gateway, we will open up new ‘blue ocean’ opportunities for enterprises from the two places.”

    The transport chief also pointed out the event materialised the target of the Action Plan on Green Maritime Fuel Bunkering promulgated by the Hong Kong Special Administrative Region Government in November last year, which said the Government will develop Hong Kong into the preferred green maritime fuel bunkering and trading centre in the region. 

    Furthermore, Ms Chan witnessed the signing of MoUs between the TLB and various parties to collaborate on promoting the development of green maritime fuel-related businesses and establishing a market for the trade of green maritime fuels.

    Meanwhile, Commissioner for Maritime & Port Development Amy Chan attended the event at the Shenzhen venue, where she announced that the Marine Department will gazette the Code of Practice for Methanol Bunkering within this month, and launch the Green Maritime Fuel Bunkering Incentive Scheme.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Beeline Title Among the First to Close Crypto Real Estate Transaction

    Source: GlobeNewswire (MIL-OSI)

    PROVIDENCE, R.I., June 25, 2025 (GLOBE NEWSWIRE) — via IBN – Beeline Holdings, Inc., (NASDAQ: BLNE) the fast-growing digital mortgage platform that shortens the path to homeownership, is pleased to announce that its subsidiary, Beeline Title holdings, Inc. (“Beeline Title”), has successfully closed what it believes to be among the first to close a residential real estate transaction funded through the sale of a cryptocurrency token backed by real property. The transaction marks a major milestone in the evolution of blockchain-driven real estate finance, bridging decentralized finance with traditional title and escrow services.

    “Several mortgage lenders are already developing funding models that involve the conversion of cryptocurrencies to U.S. dollars at closing,” said Nick Liuzza, CEO of Beeline Holdings. “But for these models to function at scale, you need a title company that not only understands blockchain transactions—but has the infrastructure to disburse and reconcile them in compliance with federal and state regulations.”

    Beeline’s TItle’s cryptocurrency-enabled transaction is the beginning of a broader rollout. Beeline Loans, Inc., another subsidiary, is set to launch a Fractional Sale of equity product leveagering the crypto ecosystem in early August 2025, with Beeline Title providing the title and closing services for each transaction—unless borrowers elect to use an outside title company.

    Importantly, Beeline Title will open this platform to all mortgage lenders, giving them access to a proven solution for cryptocurrency token transaction reconciliation, compliance and disbursement.

    Liuzza continued: “Our team built Linear Title, one of the largest privately held title agencies in the U.S., prior to merging with Real Matters and going public on the TSX. Through 2019, we closed over one million title transactions across all 50 states, and this new platform is an extension of that expertise—tailored to the next generation of mortgage transactions.”

    As cryptocurrency adoption accelerates and becomes regulated by federal and state governments, Beeline is positioning itself as a leader in this fastmoving ecosystem, offering trusted infrastructure to help lenders scale into a future where crypto and compliance go hand-in-hand.

    About Beeline Financial Holdings, Inc.

    Beeline Financial Holdings, Inc. is a trailblazing mortgage fintech transforming the way people access property financing. Through its fully digital, AI-powered platform, Beeline delivers a faster, smarter path to home loans—whether for primary residences or investment properties. Headquartered in Providence, Rhode Island, Beeline is reshaping mortgage origination with speed, simplicity, and transparency at its core. The company is a wholly owned subsidiary of Beeline Holdings and also operates Beeline Labs, its innovation arm focused on next-generation lending solutions.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the company’s prospective new home equity access product, the potential market for, timing, features, and demand for such product, and the benefits thereof. Forward-looking statements are prefaced by words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “should,” “would,” “intend,” “seem,” “potential,” “appear,” “continue,” “future,” believe,” “estimate,” “forecast,” “project,” and similar words. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. We caution you, therefore, against relying on any of these forward-looking statements. Our actual results may differ materially from those contemplated by the forward-looking statements for a variety of reasons, including, without limitation, the possibility that estimates, projections and assumptions on which the forward-looking statements are based prove to be incorrect, the ultimate interest of homeowners in unlocking liquidity and Beeline’s ability to attract homeowners, its reliance on a related party to raise capital to fund the real estate transactions and the Risk Factors contained in our Form 10-K filed April 15, 2025. Any forward-looking statement made by us in this presentation 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 statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

    Investor Contact:
    investors@makeabeeline.com

    Media Contact:
    press@makeabeeline.com

    Wire Service Contact:
    IBN
    Austin, Texas
    www.InvestorBrandNetwork.com
    512.354.7000 Office
    Editor@InvestorBrandNetwork.com

    The MIL Network –

  • MIL-OSI: Data443 Risk Mitigation Acquires TacitRed™ External Attack Surface Management SaaS Platform from Cogility

    Source: GlobeNewswire (MIL-OSI)

    Advanced Cyber Threat Intelligence Platform Strengthens Data443’s Comprehensive Security Portfolio and Accelerates Market Expansion

    RESEARCH TRIANGLE PARK, N.C., June 25, 2025 (GLOBE NEWSWIRE) — Data443 Risk Mitigation, Inc. (OTCPK: ATDS) (“Data443” or the “Company”), a data security and privacy software company for “All Things Data Security,” today announced its thirteenth acquisition – TacitRed™ threat intelligence SaaS product from Cogility, a premier continuous decision intelligence platform provider.

    TacitRed brings a sophisticated approach to threat detection and analysis, leveraging specialized network traffic sampling via NetFlow technology to deliver real-time threat intelligence at unprecedented scale. This acquisition adds advanced threat intelligence capabilities to Data443’s already robust portfolio of data security solutions.

    TacitRed has achieved remarkable success, surpassing one billion threat findings while continuously analyzing massive volumes of global attack signals and threat intelligence sources. TacitRed provides actionable intelligence on active exposures, attacks, and risks affecting over 13 million U.S. companies, delivering unparalleled, on-demand threat findings that enable rapid response and mitigation.

    “This acquisition represents an important addition to our comprehensive data security ecosystem,” commented Jason Remillard, Founder and CEO of Data443. “TacitRed’s high-volume, detailed sampling approach ensure our customers receive the most current and actionable threat intelligence available in the market. Its proven track record, combined with its strong customer pipeline, positions us for significant growth acceleration, and we anticipate this acquisition to be accretive to our financial performance in 2025.”

    Martin Artiano, CEO of Cogility, commented, “The cyber domain experts we hired to build TacitRed made excellent use of the advanced features of Cogynt and the results were impressive. Generating continuous, detailed and curated threat findings for 13M companies was a difficult task for such a small team. We are happy that Data443 recognized the value of the people, the findings and the platform.”

    Thomas Johnson, the leader of TacitRed and his team will join Data443 as part of the transaction. Thomas added, “When a group of us from Coalition cyber insurance saw the power of the Cogynt platform, we decided to join Cogility and build a real-time, population-scale extended attack surface management capability. Our product delivers actionable threat intelligence to both cyber insurance and corporate customers, helping them stay ahead of emerging risks. We’re incredibly excited for this next chapter as TacitRed joins forces with Data443. This acquisition gives us access to an even broader range of threat intelligence, which will accelerate our ability to enhance both platforms. The team is energized by what’s ahead, and we’re looking forward to what we can accomplish together.”

    More than simply providing a data lake capability, Cogynt surfaces data points as they occur within the platform.

    Jason Remillard continued, “The platform architecture and comprehensive data sets we have acquired are truly without match in the marketplace, making this a perfect strategic fit with our existing client base. The integration creates powerful synergies that will benefit both our current customers and TacitRed’s established user community.”

    This acquisition builds upon Data443’s recent strategic initiatives, including the Company’s partnership with leading datacenter solutions provider TierPoint as part of their new data center opening in the Research Triangle area..

    As well Data443 acquired AI-powered email privacy and categorization platform Breezemail.ai for work in conjunction with its Cyren By Data443 platform. These strategic relationships position Data443 to capitalize on the growing demand for comprehensive data security and threat intelligence solutions

    About Cogility

    Cogility provides continuous decision intelligence solutions for real-time risk and opportunity assessment at scale through its advanced Cogynt™ platform. The platform enables continuous risk and opportunity assessment, allowing organizations to make decisions and take action with greater confidence, resulting in a competitive advantage.

    Cogility’s decision intelligence platform integrates event stream processing, real-time behavioral analytics, no-code modeling, and business process integration, enabling organizations to transform massive, diverse data sets into predictive and actionable intelligence. Government and commercial organizations trust the platform for its robust real-time data processing, no-code authoring, and advanced analytics capabilities. For more information, visit: https://cogility.com/

    About TacitRed™

    TacitRed™ provides tactical attack surface intelligence through continuous cyber threat and attack analysis. The platform continuously analyzes massive amounts of global attack signals and threat intelligence sources to pinpoint active exposures, attacks, and risks affecting organizations worldwide.

    The platform has achieved significant scale, surpassing one billion threat findings while providing unparalleled, on-demand intelligence. TacitRed’s core value proposition centers on unlocking fully curated, prioritized, and actionable threat findings within external attack surfaces instantly, requiring only a company domain for comprehensive analysis. For more information, visit: https://tacitred.com/

    About Data443 Risk Mitigation, Inc.

    Data443 Risk Mitigation, Inc. (OTCPK: ATDS) provides software and services to enable secure data across devices and databases, at rest and in flight/in transit, locally, on a network or in the cloud. We are All Things Data Security™. With over 10,000 customers in over 100 countries, Data443 provides a modern approach to data governance and security by identifying and protecting all sensitive data regardless of location, platform or format. Data443’s framework helps customers prioritize risk, identify security gaps and implement effective data protection and privacy management strategies. For more information, visit: https://data443.com.

    Forward-Looking Statements 

    This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by use of terms such as “expect,” “believe,” “anticipate,” “may,” “could,” “will,” “should,” “plan,” “project,” “intend,” “estimate,” “predict,” “potential,” “pursuant,” “target,” “continue” or the negative of these words or other comparable terminology. Statements in this press release that are not historical statements, including statements regarding Data443’s plans, objectives, future opportunities for Data443’s services, future financial performance and operating results, and any other statements regarding Data443’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance, or regarding the anticipated consummation of any transaction, are forward-looking statements. These statements are not guarantees of future performance and are subject to numerous risks, uncertainties and assumptions, many of which are difficult to predict or are beyond Data443’s control. These risks, uncertainties and assumptions could cause actual results to differ materially from the results expressed or implied by the statements. They may relate to the outcome of litigation, settlements and investigations; actions by third parties, including governmental agencies; volatility in customer spending; global economic conditions; inability to hire and retain personnel; loss of, or reduction in business with, key customers; difficulty with growth and integration of acquisitions; product liability; cybersecurity risk; anti-takeover measures in the Company’s charter documents; and the uncertainties created by global health issues, such as the ongoing outbreak of COVID, and political unrest and conflict, such as the invasion of Ukraine by Russia. These and other important risk factors are described more fully in the Company’s reports and other documents filed with the Securities and Exchange Commission (“the SEC”), including in Part I, Item 1A of the Company’s Annual Report on Form 10-K filed with the SEC on April 17, 2024, and subsequent filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to the Company on the date hereof. Except as otherwise required by applicable law, Data443 undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.

    “DATA443” is a registered trademark of Data443 Risk Mitigation, Inc.

    All product names, trademarks and registered trademarks are property of their respective owners. All company, product and service names used in this press release are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.

    For further information:        
    Follow us on LinkedIn: https://www.linkedin.com/company/data443-risk-mitigation-inc/
    Follow us on YouTube: https://www.youtube.com/channel/UCZXDhJcx-XgMBhvE9aFHRdA
    Sign up for our Investor Newsletter: https://data443.com/investor-email-alerts/

    To learn more about Data443, please watch the Company’s video introduction on its YouTube channel: https://youtu.be/1Fp93jOxFSg

    Investor Relations Contact:
    Matthew Abenante
    ir@data443.com
    919.858.6542

    The MIL Network –

  • MIL-OSI Banking: Growing Retail Digital Payments: The Value of Interoperability

    Source: International Monetary Fund

    Preview Citation

    Format: Chicago

    Alexander Copestake, Divya Kirti, and Maria Soledad Martinez Peria. “Growing Retail Digital Payments: The Value of Interoperability”, Fintech Notes 2025, 004 (2025), accessed June 25, 2025, https://doi.org/10.5089/9798229014250.063

    Export Citation

    • ProCite
    • RefWorks
    • Reference Manager

    • BibTex
    • Zotero

    Summary

    Policymakers in many countries aim to increase the uptake of retail digital payment systems. This Note examines whether interoperability can help achieve this goal. We provide a conceptual framework that explains how interoperability can support the adoption of digital payments by increasing users’ freedom to choose their favorite app. We present evidence consistent with this framework using granular data covering the universe of transactions on India’s Unified Payments Interface (UPI), an interoperable platform that has become the world’s largest retail fast payment system by volume. We find that interoperability has indeed supported adoption, suggesting that promoting interoperability could be a promising policy lever for countries seeking to transition away from cash.

    Subject: Digital financial services, Financial markets, Financial regulation and supervision, Financial services, Fintech, Monetary policy, Money, Payment systems, Technology

    Keywords: Digital financial services, Fintech, Fintech, Interoperability, Networks, Payment systems, Payments, UPI

    Publication Details

    MIL OSI Global Banks –

  • MIL-OSI United Nations: 25 June 2025 Joint News Release Energy Access Has Improved, Yet International Financial Support Still Needed to Boost Progress and Address Disparities

    Source: World Health Organisation

    Tracking SDG 7: The Energy Progress Report 2025 finds that almost 92% of the world’s population now has basic access to electricity Although this is an improvement since 2022, which saw the number of people without basic access decrease for the first time in a decade, over 666 million people remain without access, indicating that the current rate is insufficient to reach universal access by 2030. Clean cooking access is progressing but below the rates of progress seen in the 2010s, as efforts remain hobbled by setbacks during the Covid-19 pandemic, following energy price shocks, and debt crises.

    Released today, the latest edition of the annual report that tracks progress towards Sustainable Development Goal (SDG) 7 highlights the role of distributed renewable energy (a combination of mini-grid and off-grid solar systems) to accelerate access, since the population remaining unconnected lives mostly in remote, lower-income, and fragile areas. Cost-effective and rapidly scalable, decentralised solutions are able to reach communities in such rural areas.

    Decentralised solutions are also needed to increase access to clean cooking. With an estimated 1.5 billion people residing in rural areas still lacking access to clean cooking, the use of off-grid clean technologies, such as household biogas plants and mini-grids that facilitate electric cooking, can provide solutions that reduce health impacts caused by household air pollution. Over 670 million people remain without electricity access, and over 2 billion people remain dependent on polluting and hazardous fuels such as firewood and charcoal for their cooking needs.

    Notable progress was made in different indicators. The international financial flows to developing countries in support of clean energy grew for the third year in a row to reach USD 21.6 billion in 2023.  Installed renewables capacity per capita continued to increase year-on-year to reach a new high of 341 watts per capita in developing countries, up from 155 watts in 2015.

    Yet regional disparities persist, indicating that particular support is needed for developing regions. In sub-Saharan Africa – which lags behind across most indicators – renewables deployment has rapidly expanded but remains limited to 40 watts of installed capacity per capita on average which is only one-eighth of the average of other developing countries. Eighty-five percent of the global population without electricity access reside in the region, while four in five families are without access to clean cooking. And the number of people without clean cooking access in the region continues to grow at a rate of 14 million people yearly.

    The report identified the lack of sufficient and affordable financing as a key reason for regional inequalities and slow progress. To build on the achievements to date and avoid any further regressions on access to electricity and clean cooking due to looming risks in global markets, the report calls for strengthened international cooperation of public and private sectors, to scale up financial support for developing countries, especially in sub-Saharan Africa. Urgent actions include reforms in multilateral and bilateral lending to expand the availability of public capital; more concessional finance mobilisation, grants, and risk mitigation instruments; improvement in risk tolerance among donors; as well as appropriate national energy planning and regulations.

    Key findings across primary indicators

    • Almost 92% of the world’s population now has access to electricity, leaving over 666 million people without electricity in 2023, with around 310 million people gaining access since 2015. Eighteen of the 20 countries with the largest electricity access deficits in 2023 were in sub-Saharan Africa. The greatest growth in access between 2020 and 2023 occurred in Central and Southern Asia, with both regions making significant strides towards universal electricity access, reducing their basic access gap from 414 million in 2010 to just 27 million in 2023.
    • Little to no change was observed in access to clean fuels and technologies for cooking between 2022 and 2023. Although the number of the world’s population with access to clean cooking fuels and technologies increased from 64% in 2015 to 74% in 2023, around 2.1 billion people remain dependent on polluting fuels and technologies. If current trends continue, only 78% of the global population will have access to clean cooking by 2030.
    • In 2022, the global share of renewable energy sources in total final energy consumption (TFEC) was 17.9% as TFEC continued to increase gradually, while installed renewable energy capacity reached 478 watts per capita in 2023, indicating almost 13% growth from 2022. But progress is not sufficient to meet international climate and sustainable development goals. In addition, global efforts must address significant disparities. Despite progress in expanding renewable capacity, least developed countries and sub-Saharan Africa had only 40 watts per capita in installed renewables capacity, compared to developed countries which had over 1,100 watts installed.
    • Global energy efficiency experienced sluggish progress in recent years. The global trend shows that primary energy intensity, defined as the ratio of total energy supply to gross domestic product, declined by 2.1% in 2022. Although it is an improvement of more than four times the weak 0.5% improvement rate of 2021, it is insufficient to meet the original SDG 7.3 target. Going forward, energy intensity needs to improve by 4% per year on average. 
    • International public financial flows to developing countries in support of clean energy increased by 27% from 2022, reaching USD 21.6 billion in 2023.  However, the report reveals that the developing world received fewer flows in 2023 than in 2016, when commitments peaked at USD 28.4 billion. Despite gradual diversification, funding remained concentrated, with only two sub-Saharan African countries in the top five recipients. Debt-based instruments drove most of the increase in international public flows in 2023, accounting for 83% in 2023, while grants made up only 9.8% of flows.

    The report will be presented to decision-makers at a special launch event on 16 July 2025 at the High-Level Political Forum on Sustainable Development in New York, which oversees progress on the SDGs.

    Quotes

    Fatih Birol, Executive Director, International Energy Agency

    “Despite progress in some parts of the world, the expansion of electricity and clean cooking access remains disappointingly slow, especially in Africa. This is contributing to millions of premature deaths each year linked to smoke inhalation, and is holding back development and education opportunities. Greater investment in clean cooking and electricity supply is urgently required, including support to reduce the cost of capital for projects.”

    Francesco La Camera, Director-General, International Renewable Energy Agency

    “Renewables have seen record growth in recent years, reminding the world of its affordability, scalability, and its role in further reducing energy poverty. But we must accelerate progress at this crunch time. This means overcoming challenges, which include infrastructure gaps. The lack of progress, especially on infrastructure, is a reflection of limited access to financing. Although international financial flows to developing countries in support of clean energy grew to USD 21.6 billion in 2023, only two regions in the world have seen real progress in the financial flows. To close the access and infrastructure gaps, we need strengthened international cooperation to scale up affordable financing and impact–driven capital for the least developed and developing countries.”

    Stefan Schweinfest, Director, United Nations Statistics Division

    “This year’s report shows that now is the time to come together to build on existing achievements and scale up our efforts. Despite advancements in increasing renewables-based electricity, which now makes up almost 30 percent of global electricity consumption, the use of renewables for other energy-related purposes remains stagnant. While energy intensity improved in 2022, overall progress remains weak, threatening economic growth and the energy efficiency goals agreed upon at COP28. The clock is ticking. The findings of this year’s report should serve as a rallying point, to rapidly mobilize efforts and investments, so that together, we ensure sustainable energy for all by 2030.”

    Guangzhe Chen, Vice President for Infrastructure, World Bank

    “As we approach the five-year mark to achieve the SDG7 targets, it is imperative to accelerate the deployment of electricity connections, especially in Sub-Saharan Africa, where half of the 666 million people lacking access reside. As part of the Mission 300 movement, 12 African nations have launched national energy compacts, in which they commit to substantial reforms to lower costs of generation and transmission, and scale up distributed renewable energy solutions. Initiatives such as this unite governments, the private sector, and development partners in a collaborative effort.

    Dr Tedros Adhanom Ghebreyesus, WHO Director-General, World Health Organization

    “The same pollutants that are poisoning our planet are also poisoning people, contributing to millions of deaths each year from cardiovascular and respiratory diseases, particularly among the most vulnerable, including women and children,” said Dr Tedros Adhanom Ghebreyesus, WHO Director-General. “We urgently need scaled-up action and investment in clean cooking solutions to protect the health of both people and planet—now and in the future.”

    About the report

    This report is published by the SDG 7 custodian agencies, the International Energy Agency (IEA), the International Renewable Energy Agency (IRENA), the United Nations Statistics Division (UNSD), the World Bank, and the World Health Organization (WHO) and aims to provide the international community with a global dashboard to register progress on energy access, energy efficiency, renewable energy and international cooperation to advance SDG 7.

    This year’s edition was chaired by IRENA.  

    The report can be downloaded at https://trackingsdg7.esmap.org/

    Funding for the report was provided by the World Bank’s Energy Sector Management Assistance Program (ESMAP).

    MIL OSI United Nations News –

  • MIL-OSI Asia-Pac: FS continues visit to Tianjin (with photos)

    Source: Hong Kong Government special administrative region

    ​The Financial Secretary, Mr Paul Chan, continued his visit to Tianjin today (June 25) to attend the World Economic Forum Annual Meeting of the New Champions 2025 (also known as the Summer Davos). In the evening, he travelled to Beijing to attend the Host Member Gala Dinner for the 10th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB).

    In the morning, Premier Li Qiang attended the opening ceremony of the Summer Davos and delivered a speech. In addition to attending the opening ceremony, Mr Chan participated in a discussion session in the afternoon titled, “Is the Asian Century at Risk?”. Other regional leaders in attendance included the Prime Minister of Vietnam, Mr Pham Minh Chinh; the Deputy Chairperson of Indonesia’s Gerindra Party, Ms Rahayu Saraswati Djojohadikusumo; and the Minister of Industry and Entrepreneurship Development, Mr Sunil Handunneththi. The discussion focused on how Asia could address local development and external challenges amid the current geopolitical tensions, trade barriers and technological transformation.

    During the session, Mr Chan remarked that the Asian region is developing rapidly, with Hong Kong benefitting from its unique position under “one country, two systems”. He highlighted Hong Kong’s dual advantages of priority access to the Mainland’s market and its connectivity to the global economy, serving as a gateway between the Mainland and the world. As an international financial centre, Hong Kong facilitates efficient two-way capital flows and cross-border financial co-operation within Asia and between Asia and other regions. In the current international geopolitical and economic environment, Hong Kong is actively supporting Mainland enterprises in expanding internationally and building global industry chains and supply chains.

    In response to questions, Mr Chan emphasised that since the implementation of the Hong Kong National Security Law, Hong Kong has provided a more stable and secure business environment that allows society to focus on economic development. He pointed out that the performance of Hong Kong’s capital markets over the past year, along with surveys conducted by various foreign chambers of commerce, demonstrates that international investors are showing confidence in Hong Kong with their capital and actions. Mr Chan further noted that Hong Kong’s openness, diversity and international outlook under “two systems”, along with its common law system, remain key advantages in attracting international businesses and talent.

    Mr Chan also met with the Chairman ad interim of the World Economic Forum, Mr Peter Brabeck-Letmathe, during which he briefed him on Hong Kong’s latest economic developments, including progress in the financial and innovation and technology (I&T) sectors. The two sides also explored opportunities to strengthen co-operation in technological innovation and personnel exchanges. Mr Chan expressed gratitude to the World Economic Forum for offering secondment opportunities to Hong Kong SAR Government personnel, enabling them to gain more international exposure.

    During his time in Tianjin, Mr Chan participated in the following activities:

    (1) A thematic session titled “Funding China’s Next Tech Breakthrough” hosted by the Hong Kong Exchanges and Clearing Limited, where he shared with representatives from investment banks, funds, asset management firms, I&T companies and think tanks how Hong Kong provides a full range of fundraising options – from start-up investments to stock market listings – to provide financial support to the accelerated development of I&T enterprises;

    (2) An exchange session between technology enterprises from Tianjin and Hong Kong organised by Hong Kong Science and Technology Parks Corporation, where Mr Chan introduced the dual advantages of Hong Kong’s financial and I&T synergy to I&T enterprises from Tianjin and Hong Kong, and accelerating the development of I&T through financial empowerment. Some members of the I&T delegation on the visit also participated in the session, where they explored collaboration opportunities with Tianjin’s I&T companies; and

    (3) A gathering hosted by the Hong Kong Chamber of Commerce in Tianjin, where Mr Chan shared updates on Hong Kong’s economy, future development directions, and opportunities for further strengthening co-operation between Tianjin and Hong Kong in finance, trade and I&T.

    After concluding his visit to Tianjin, Mr Chan proceeded to Beijing to attend the Host Member Gala Dinner for the 10th Annual Meeting of the Board of Governors of the AIIB.

    Mr Chan will attend the 10th Annual Meeting of the Board of Governors of the AIIB tomorrow (June 26).

    MIL OSI Asia Pacific News –