Category: Economy

  • MIL-OSI United Nations: UNECE Resource Management Week 2025: Advancing Sustainable Resource Governance for a Just Energy Transition 

    Source: United Nations Economic Commission for Europe

    As demand for critical mineral resources surges and energy transitions reshape economies, UNECE Resource Management Week 2025 is where global experts, policymakers and industry leaders will come together to shape the policies and strategies to support a more sustainable future for resource governance. 

    Strengthening Global Resource Governance with UNFC and UNRMS 

    As critical minerals become increasingly essential to the energy transition, the 16th Session of the Expert Group on Resource Management (24–28 March) will explore how to ensure transparent, sustainable, and responsible resource governance. Discussions will focus on the United Nations Framework Classification for Resources (UNFC) and UN Resource Management System (UNRMS) and their role in securing supply while balancing environmental and social concerns and implementing UNFC under the EU Critical Raw Material Act. The International Centres of Excellence on Sustainable Resource Management in Central Asia, Mexico, Russian Federation and UK will share their national and regional priorities to deploy and disseminate UNFC and UNRMS.  

    The session will also feature the Geneva Dialogues on Mineral and Metal Resources, with a Joint UNEP and UNECE side event focused on circular economy solutions and responsible mining practices. Lectures will bring fresh insights, including a discussion led by the Norwegian Offshore Directorate’s Stig-Morten Knutsen on the potential of seabed minerals for energy and industry, addressing both opportunities and environmental risks. Other sessions will explore AI’s role in resource management and women’s leadership in resource management. The FutuRaM annual event on 26 March will highlight advancements in secondary raw materials (SRMs) management, showcasing two years of research on how urban mining and anthropogenic resources can strengthen supply chains. Experts will discuss how the latest Urban Mine Platform updates can support informed decision-making in resource management. 

    With competition for minerals intensifying, EGRM-16 will play a role in shaping policies that secure resources responsibly while advancing long-term sustainability goals. 

    Two Decades of Advancing Mine Safety, Methane Management, and Just Transition 

    As pressure mounts to curb methane emissions and phase out coal, UNECE’s Group of Experts on Coal Mine Methane and Just Transition will mark its 20th session (24–25 March 2025) by unveiling new tools for methane abatement and discussing ways to integrate emission reductions into national climate targets (NDCs). With mine closures accelerating, experts will present business models from Poland and Spain that repurpose sites for clean energy. Just transition strategies in Tajikistan and Uzbekistan will also highlight efforts to support coal-dependent communities. The session underscores the growing urgency to align mine safety, environmental goals, and economic resilience in the energy transition. 

    UNECE to Tackle Gas Sector’s Role in Energy Security and Climate Action

    The 12th Session of the UNECE Group of Experts on Gas (GEG-12) will address the future of gas in a rapidly evolving landscape. Discussions will focus on biogases as alternatives to fossil fuels, hydrogen infrastructure, and resilience amid supply shocks. For the first time, Just Transition in the gas sector will be explored, alongside new methane reduction measures 

    Driving Partnerships for a Just and Sustainable Energy Transition 

    The UNECE Resource Management Week 2025 will also highlight collaborations with the European Commission, World Bank, and UNDP on methane reduction and hydrogen projects, as well as partnerships with the UN Country Teams and the Issue-Based Coalition on Environment and Climate Change to shape coherent just transition policies. With a focus on practical solutions and innovation, the event aims to accelerate the energy transition in a fair, inclusive, and sustainable way. 

    MIL OSI United Nations News

  • MIL-OSI Video: UK House of Lords Committee explores the UK’s involvement in space

    Source: United Kingdom UK House of Lords (video statements)

    Space is essential to the functioning of the UK economy. People relying on GPS for navigation, scientists who monitor climate change, and farmers who use autonomous machinery are just some of the daily users of satellite technology in the UK.

    The House of Lords UK Engagement with Space Committee has been set up to consider UK space policies, the opportunities and challenges the sector faces, and how space can contribute to economic growth.

    The committee wants to hear from you. Whether you’re an industry professional, an academic or a policy expert, you can get involved.

    Share your views by 17 April https://committees.parliament.uk/work/8966/uk-engagement-with-space/news/205799/call-for-evidence-launched-on-the-uks-engagement-with-space/

    Catch-up on House of Lords business:

    Watch live events: https://parliamentlive.tv/Lords
    Read the latest news: https://www.parliament.uk/lords/

    Stay up to date with the House of Lords on social media:

    • X: https://twitter.com/UKHouseofLords
    • Bluesky: https://bsky.app/profile/houseoflords.parliament.uk
    • Instagram: https://www.instagram.com/UKHouseofLords/
    • Facebook: https://www.facebook.com/UKHouseofLords
    • Flickr: https://flickr.com/photos/ukhouseoflords/albums
    • LinkedIn: https://www.linkedin.com/company/the-house-of-lords
    • Threads: https://www.threads.net/@UKHouseOfLords

    #HouseOfLords #UKParliament

    https://www.youtube.com/watch?v=-jQw37KRguk

    MIL OSI Video

  • MIL-OSI: Equiniti (EQ) to Acquire Notified, Creating an End-to-End Investor Relations and Communications Platform

    Source: GlobeNewswire (MIL-OSI)

    Transaction Highlights

    • Creates an Integrated, End-to-End Platform: Together, EQ and Notified will deliver seamless, end-to-end investor relations, public relations and share registry solutions.
    • Full Corporate Lifecycle Support: Provides comprehensive communication solutions for private companies, pre-IPO firms, and public issuers big and small.
    • Furthering EQ’s Strategic Growth: Follows additional successful integrations, this enhances EQ’s position as a global leader in shareholder and corporate lifecycle solutions.
    • Transaction Close: The acquisition is expected to close in the second quarter of 2025.

    NEW YORK, March 17, 2025 (GLOBE NEWSWIRE) — Equiniti (EQ)1 has entered into a definitive agreement to acquire Notified, the award-winning global provider of public relations (PR) and investor relations (IR) solutions and services. This strategic combination will provide an end-to-end IR and shareholder engagement platform, empowering issuers with a seamless suite of IR, PR and share registry solutions.

    EQ, trusted by thousands of public companies worldwide, has long been at the forefront of shareholder management.

    With Notified’s focus in IR webcasting, earnings communications, and stakeholder engagement, EQ expands its service offering to provide a holistic solution that meets the evolving needs of corporate issuers, investors and financial stakeholders. Notified’s PR and IR platforms provide world-class media monitoring, audience insights, and award-winning solutions like GlobeNewswire, a leading global news distribution network for press releases, financial disclosures, and multimedia content, enhancing engagement and shareholder confidence.

    Through this strategic acquisition, EQ and Notified will unite their complementary strengths to expand communications solutions that support clients from private companies preparing for growth to pre-IPO and beyond through the full corporate lifecycle.

    This announcement builds on the successful integration of EQ and AST, and the recent acquisition by EQ of Issuer Direct, further solidifying EQ’s position as a global leader in shareholder services. Adding Notified complements EQ’s capabilities while providing the scale and resources to advance Notified’s PR and IR vision.

    Dan Kramer, CEO of EQ Shareholder Services, commented: “EQ and Notified are an excellent fit for each other, both trusted by the world’s leading brands to deliver best-in-class solutions. This acquisition will enhance our ability to provide seamless, end-to-end shareholder and corporate communications services. We’re excited about the value this will bring to our clients at every stage of their journey.”

    Nimesh Davé, President of Notified, commented: “This marks an exciting new chapter for Notified, our clients, and EQ. By combining Notified’s leadership in investor and public relations with EQ’s global expertise in shareholder services, we will be better able to bring new and innovative products and services to our customers at scale—enhancing our ability to deliver exceptional service and value, while equipping customers with the tools and insights to engage their audiences and build trust more effectively than ever before.”

    About EQ

    EQ are specialists in helping you better understand and manage the ownership of your company through critical events across the corporate lifecycle. As trusted advisors, we provide strategic insight and operations expertise through our core business units in Transfer Agent Services, Employee Plan Solutions, Proxy Services and Private Company Services. Globally, we serve 5,000 clients (~50% of the FTSE 100 UK and ~35% of the S&P 500), with over 20 million shareholders, through 6,000 employees in 5 markets around the world. Learn more at equiniti.com/global.

    About Notified

    We are Notified, and your story goes here. As a leading technology partner dedicated to both investor relations and public relations professionals, we help you control and amplify your corporate narrative. Our fully integrated IR and PR platforms streamline every step—whether it’s designing new IR websites, managing investor days, earnings releases, and regulatory filings or driving media outreach, press release distribution, and measurement. Connecting both worlds, GlobeNewswire is one of the world’s largest and most trusted newswire distribution networks, serving leading organizations for over 30 years. Together, we empower communicators to inform a better world.

    Media Contact

    Teneo

    Martin Robinson

    Tel: +44 20 7353 4200

    Email: Equiniti@teneo.com

    1. Armor Holding II, LLC and Orbit Private Holdings I Limited (together, EQ)

    The MIL Network

  • MIL-OSI: HTXMining Introduces Next-Generation Staking and Liquidity Mining Solutions

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, March 17, 2025 (GLOBE NEWSWIRE) — HTXMining, a leader in cryptocurrency staking and liquidity mining, is redefining decentralized finance by offering a secure, user-friendly, and rewarding platform. With a strong emphasis on security, ease of use, and reliable daily returns, HTXMining establishes a new standard for crypto staking.

    Unlocking Passive Income Through Crypto Staking

    HTXMining enables investors to earn rewards without requiring expensive mining hardware or technical expertise. Featuring instant staking, flexible withdrawal options, and advanced security protocols, the platform provides both novice and experienced investors with opportunities to optimize earnings while retaining control over their assets.

    HTX capital LLC Photo

    Liquidity Mining Plans and Potential Returns

    HTXMining offers structured liquidity mining plans with varying potential returns based on investment levels:

    • Level 1: $5 – $1,050: Up to 1.5% return on investment
    • Level 2: $1,051 – $3,050: Up to 2% potential return
    • Level 3: $3,051 – $5,050: Up to 2.5% potential return
    • Level 4: $5,051 – $10,050: Up to 2.8% potential return
    • Level 5: $10,051 – $15,050: Up to 3.1% potential return
    • Level 6: $15,051 – $20,050: Up to 3.5% return on investment
    • Level 7: $20,051 – $50,050: Up to 3.8% return on investment
    • Level 8: $50,051 – $80,050: Up to 4.1% return on investment

    Generating Passive Income Through Referral Programs

    HTXMining’s Affiliate Program provides an additional revenue stream for content creators, influencers, and investors. By referring new users to the platform, affiliates receive a 4.5% commission on qualified purchases made through their referral links.

    Affiliate Program Process:

    1. Registration – Sign up on HTXMining and generate a referral link.
    2. Invitation – Share the referral link via social media, blogs, or websites.
    3. Earnings – Earn a percentage from referred users’ staking and mining activities.

    HTXMining’s Million Bounty Program

    HTXMining’s Million Bounty Program rewards active users for participation in mining, staking, content creation, and community engagement. The program extends across multiple platforms, including Instagram, Facebook, and Twitter, encouraging broader user involvement.

    Key Features of HTXMining

    • Full Asset Control – Investors maintain complete control over their assets while earning rewards.
    • Daily Payouts – Rewards are distributed every 24 hours.
    • Competitive APY – Staking and liquidity mining offer returns of up to 5.5% daily.
    • Liquidity Staking – Provides earnings while ensuring asset liquidity.
    • Secure Transactions – Advanced encryption and low transaction fees enhance security.
    • Fast Withdrawals – Earnings can be withdrawn within 24 hours.
    • 24/7 Customer Support – Dedicated assistance ensures a seamless user experience.
    • Multi-Currency Support – Enables staking across various digital assets.
    • User-Friendly Interface – Designed for both beginners and experienced investors.

    Getting Started with HTXMining

    HTXMining simplifies the onboarding process with a few easy steps:

    1. Wallet Integration – Supports over 400 wallet types, including WalletConnect, Trust Wallet, and OKX Wallet.
    2. Free Trial Bonus – New users receive a $100 bonus for a risk-free staking experience.
    3. Staking Plan Selection – Options include locked staking and liquidity mining, catering to various financial goals.
    4. Earnings and Withdrawals – A real-time dashboard allows investors to monitor earnings and withdraw profits anytime.

    About HTXMining

    HTXMining is recognized for its security-driven approach, transparent operations, and seamless staking experience. By leveraging optimized algorithms, real-time monitoring, and flexible financial plans, the platform empowers investors to maximize cryptocurrency earnings within a secure and efficient ecosystem.

    For more information, visit www.htxmining.com.

    Disclaimer: The information provided in this press release is not a solicitation for investment, nor does it constitute financial, investment, or trading advice. Cryptocurrency mining and staking involve risks, and potential financial losses may occur. It is strongly recommended to conduct thorough research and consult a professional financial advisor before engaging in cryptocurrency investments.

    Media Contact:
    Paul Winterowd, HTXMining
    +15757887086
    info@htxmining.com
    https://htxmining.com/

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/064fa080-a0bf-4da9-b509-ee1d0c20cf0a

    The MIL Network

  • MIL-OSI: BexBack Launches No KYC Crypto Trading, 100x Leverage, Double Deposit Bonus, and $50 Welcome Bonus

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, March 17, 2025 (GLOBE NEWSWIRE) — With Bitcoin’s price fluctuating below $100,000, many analysts predict a prolonged period of high volatility in the crypto market. Holding spot positions may struggle to generate short-term profits in such conditions. As a result, 100x leverage futures trading has become the preferred tool for seasoned investors looking to maximize potential gains in this volatile market. BexBack Exchange is ramping up its efforts to offer traders unmatched promotional packages. The platform now features a 100% deposit bonus, a $50 welcome bonus for new users, and 100x leverage on cryptocurrency trading, providing exceptional opportunities for investors.

    What Is 100x Leverage and How Does It Work?

    Simply put, 100x leverage allows you to open larger trading positions with less capital. For example:

    Suppose the Bitcoin price is $100,000 that day, and you open a long contract with 1 BTC. After using 100x leverage, the transaction amount is equivalent to 100 BTC.

    One day later, if the price rises to $105,000, your profit will be (105,000 – 100,000) * 100 BTC / 100,000 = 5 BTC, a yield of up to 500%.

    With BexBack’s deposit bonus

    BexBack offers a 100% deposit bonus. If the initial investment is 2 BTC, the profit will increase to 10 BTC, and the return on investment will double to 1000%.

    Note: Although leveraged trading can magnify profits, you also need to be wary of liquidation risks.

    How Does the 100% Deposit Bonus Work?
    The deposit bonus from BexBack cannot be directly withdrawn but can be used to open larger positions and increase potential profits. Additionally, during significant market fluctuations, the bonus can serve as extra margin, effectively reducing the risk of liquidation.

    About BexBack?

    BexBack is a leading cryptocurrency derivatives platform that offers 100x leverage on BTC, ETH, ADA, SOL, and XRP futures contracts. It is headquartered in Singapore with offices in Hong Kong, Japan, the United States, the United Kingdom, and Argentina. It holds a US MSB (Money Services Business) license and is trusted by more than 500,000 traders worldwide. Accepts users from the United States, Canada, and Europe. There are no deposit fees, and traders can get the most thoughtful service, including 24/7 customer support.

    Why recommend BexBack?

    No KYC Required: Start trading immediately without complex identity verification.

    100% Deposit Bonus: Double your funds, double your profits.

    High-Leverage Trading: Offers up to 100x leverage, maximizing investors’ capital efficiency.

    Demo Account: Comes with 10 BTC in virtual funds, ideal for beginners to practice risk-free trading.

    Comprehensive Trading Options: Feature-rich trading available via Web and mobile applications.

    Convenient Operation: No slippage, no spread, and fast, precise trade execution.

    Global User Support: Enjoy 24/7 customer service, no matter where you are.

    Lucrative Affiliate Rewards: Earn up to 50% commission, perfect for promoters.

    Take Action Now—Don’t Miss Another Opportunity!

    If you missed the previous crypto bull run, this could be your chance. With BexBack’s 100x leverage and 100% deposit bonus and $50 bonus for new users (complete one trade within one week of registration), you can be a winner in the new bull run.

    Sign up on BexBack now, claim your exclusive bonus and start accumulating more BTC today!

    Website: www.bexback.com

    Contact: business@bexback.com

    Contact:
    Amanda
    business@bexback.com

    Disclaimer: This content is provided by BexBack. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/10236152-e825-4140-a50e-905d3662534c

    https://www.globenewswire.com/NewsRoom/AttachmentNg/b9cae213-db9e-4c95-8002-7097dcd1482f

    https://www.globenewswire.com/NewsRoom/AttachmentNg/e70bf520-5a33-4d9f-a206-a74f16ca7796

    https://www.globenewswire.com/NewsRoom/AttachmentNg/d93f5293-fead-4a7c-ae3e-7d16e5ee083d

    The MIL Network

  • MIL-OSI USA: NEWS: Sanders, 37 Colleagues to Education Secretary: “We Will Not Stand By as You Attempt to Turn Back the Clock on Education in this Country”

    US Senate News:

    Source: United States Senator for Vermont – Bernie Sanders

    WASHINGTON, March 17 – As the Trump administration and Elon Musk attack public education in America by closing offices and laying off 1,300 workers at the Department of Education, Sen. Bernie Sanders (I-Vt.), Ranking Member of the Senate Committee on Health, Education, Labor, and Pensions (HELP), alongside 37 Senate colleagues, today sent a letter to Secretary of Education Linda McMahon expressing outrage at the administration’s reckless and illegal firing of half of the workforce at the U.S. Department of Education, which will devastate America’s public education system and impact students across the country.

    Joining Sanders on the letter are Sens. Maize Hirono (D-Hawaii), Ruben Gallego (D-Ariz.), Richard Blumenthal (D-Conn.), Tina Smith (D-Minn.), Ben Ray Luján (D-N.M.), Chris Murphy (D-Conn.), Adam Schiff (D-Calif.), Ron Wyden (D-Ore.), Elizabeth Warren (D-Mass.), Ed Markey (D-Mass.), Dick Durbin (D-Ill.), Brian Schatz (D-Hawaii), Lisa Blunt Rochester (D-Del.), Chris Van Hollen (D-Md.), Angela Alsobrooks (D-Md.), Peter Welch (D-Vt.), Amy Klobuchar (D-Minn.), Tim Kaine (D-Va.), Kirsten Gillibrand (D-N.Y.), Jack Reed (D-R.I.), Tammy Duckworth (D-Ill.), Chuck Schumer  (D-N.Y.), Patty Murray (D-Wash.), Tammy Baldwin (D-Wis.), Jeanne Shaheen (D-N.H.), Sheldon Whitehouse (D-R.I.), Alex Padilla (D-Calif.), Cory Booker (D-N.J.), Jacky Rosen (D-Nev.), Raphael Warnock (D-Ga.), Jeff Merkley (D-Ore.), Andy Kim (D-N.J.), Maria Cantwell (D-Wash.), Mark Warner  (D-Va.), Chris Coons (D-Del.), Gary Peters (D-Mich.) and Elissa Slotkin (D-Mich.).

    “At a time of massive income and wealth inequality, when 60 percent of people live paycheck to paycheck, millions of Americans cannot afford higher education, and 40 percent of our nation’s 4th graders and 33 percent of 8th graders read below basic proficiency, it is a national disgrace that the Trump Administration is attempting to illegally abolish the Department of Education and thus, undermine a high-quality education for our students,” wrote Sanders and the lawmakers.

    The lawmakers noted that these layoffs and closures will have devastating effects on the nation’s students, including by limiting the department’s ability to guarantee federal funding reaches communities that rely on it, ensure students can access federal financial aid, and uphold students’ civil rights. Not even 24 hours after the staff reductions were announced, the Free Application for Federal Financial Aid (FAFSA) experienced a glitch that prevented students and families from accessing the application. Education Department workers responsible for fixing it had reportedly been fired.

    The lawmakers continue: “[The layoffs] would also mean decreased enforcement of rights for children with disabilities and fewer resources for students from low-income backgrounds and children with disabilities, like the 26 million students from low-income backgrounds and over 100,000 public schools in every community across this country that rely on Title I funding; the 7.5 million students with disabilities who benefit under the Individuals with Disabilities Education Act, and the 7 million students who receive Pell grants to help access higher education.”

    “We will not stand by as you attempt to turn back the clock on education in this country through gutting the Department of Education. Our nation’s public schools, colleges, and universities are preparing the next generation of America’s leaders—we must take steps to strengthen education in this country, not take a wrecking ball to the agency that exists to do so,” concluded Sanders and the lawmakers.

    Read the text of the letter here.

    MIL OSI USA News

  • MIL-OSI Security: Par Funding Enforcer Sentenced to 11½ Years in Prison for RICO Conspiracy, Obstruction of Justice, and Retaliation

    Source: Federal Bureau of Investigation (FBI) State Crime News

    James LaForte Brutally Assaulted Receivership Attorney, Threatened Government Witnesses, Extorted Merchants

    PHILADELPHIA – United States Attorney David Metcalf announced that James LaForte, 48, of New York, New York, was sentenced today by United States District Court Judge Mark A. Kearney to 137 months’ imprisonment, followed by three years of supervised release to include 12 months’ home confinement, for crimes committed as part of a criminal enterprise that ran a fraudulent investment vehicle[1] known as Complete Business Solutions Group, Inc., d/b/a Par Funding (“Par Funding”) for a number of years, before it was taken over by a court-appointed receivership pursuant to a lawsuit filed by the U.S. Securities and Exchange Commission. LaForte was also ordered to pay $2,488,645 in restitution, representing the portion of investor proceeds that he illegally diverted from Par Funding’s numerous investors for his own use through sham merchant contracts and other self-dealing conduct.

    In February 2024, the defendant, his brother Joseph LaForte, Par Funding’s president and CEO, and Joseph Cole Barleta, Par Funding’s chief financial officer, were charged in an amended second superseding indictment with racketeering conspiracy and related crimes.

    James LaForte pleaded guilty in September 2024 to racketeering conspiracy, securities fraud, and extortionate collection of debt, as well as obstruction of justice, for his violent assault on one of the Par Funding receivership’s Philadelphia attorneys, and retaliation, for threatening several government witnesses.

    “James LaForte served as one of his brother’s enforcers,” said U.S. Attorney Metcalf. “He not only used threats of violence to collect on Par Funding’s debt, but stalked and assaulted an attorney, in retaliation for that man’s efforts to hold the LaForte family responsible for one of the largest financial frauds in Philadelphia’s history. As today’s sentence shows, this brand of brazen and violent lawbreaking simply won’t be tolerated in the Eastern District of Pennsylvania.”

    “Since its earliest days, the FBI has been dedicated to investigating complex financial crimes,” said Wayne A. Jacobs, Special Agent in Charge of FBI Philadelphia. “James LaForte participated in a criminal enterprise driven by greed and sustained through threats and violence. The FBI is proud to stand with our partners in the pursuit of justice — disrupting these schemes and ensuring restitution for victims.”

    “The defendant in this case was brought to justice for his participation in a criminal enterprise that caused significant financial harm to numerous investors,” said Special Agent in Charge Patricia Tarasca of the Federal Deposit Insurance Corporation Office of Inspector General (FDIC OIG), New York Region. “The FDIC OIG will continue to work with our law enforcement partners to pursue those who commit such egregious crimes that threaten investors and the safety and soundness of our Nation’s financial institutions.”

    Joseph LaForte also pleaded guilty in September 2024 to racketeering conspiracy, securities fraud, and related crimes and is scheduled to be sentenced on March 26, 2025. Barleta pleaded guilty in October 2024 to one count of racketeering conspiracy and is scheduled to be sentenced on June 2, 2025.

    This case was investigated by the FBI, Internal Revenue Service – Criminal Investigation, and the Federal Deposit Insurance Corporation Office of Inspector General, and prosecuted by Assistant United States Attorneys Matthew Newcomer, Samuel Dalke, and Eric Gill.

    The SEC in Florida investigated and litigated the civil securities fraud charges, which formed the basis of a portion of the Par Funding criminal prosecution.


    [1] On January 21, 2025, the Court found the Par Funding fraud scheme caused an actual fraud loss of approximately $404,000,000, which it reduced to $288,395,088 after factoring in credit for collateral seized from Par Funding by federal authorities when the investigation became public in July 2020.

    MIL Security OSI

  • MIL-OSI USA: Wyden, Merkley, Colleagues Introduce Legislation to Reverse Damage from Trump Administration’s Egregious Cuts at VA

    US Senate News:

    Source: United States Senator Ron Wyden (D-Ore)

    March 17, 2025

    Washington D.C.—U.S. Senators Ron Wyden and Jeff Merkley said today they have joined Senate colleagues in introducing comprehensive legislation that would protect veterans, military spouses and VA employees in Oregon and nationwide indiscriminately targeted in the Department of Government Efficiency’s (DOGE) cuts at VA and across the federal government.

    “Veterans and the benefits they earned with their service to our country are under indiscriminate and unjust attack by Trump, Musk and their flunkies at DOGE,” Wyden said. “The Putting Veterans First Act would ensure these unduly fired employees are returned to work and ensure that service for veterans is not interrupted for one day longer.”

    “There is no making sense of the Trump Administration’s cruel, reckless plans to fire over 80,000 VA employees, many of them veterans themselves. Our veterans and military families deserve the full measure of our appreciation, not this stunning betrayal by President Trump,” Merkley said. “All my colleagues should support this bill to reinstate and protect these heroes from Trump and Republicans’ illegal and reckless cuts.”

    Veterans make up 30 percent  of the federal workforce, with about 640,000 veterans working in federal agencies. For decades, administrations of both parties have made hiring veterans and military spouses to work in the federal government a priority—including Donald Trump’s previous administration. Just this week, an internal memo leaked the Trump administration’s plans to cut more than 80,000 VA employees, which would include at least 20,000 veterans, who make up 25 percent of VA’s workforce.

    The Putting Veterans First Act would do the following:

    • Reinstate and protect members of the veteran and military community indiscriminately fired by DOGE working as federal employees
    • Protect the quality of VA care, benefits and employment
    • Increase transparency and oversight of VA staffing, claims backlog and wait times data
    • Protect veterans’ private data from DOGE and unelected billionaires
    • Determine the financial impact of DOGE’s reckless cancellation of contracts at VA
    • Provide critical mental health care for former and current civil servants
    • Provide employment assistance for members of the Veteran and military community fired from the federal government in Trump’s mass terminations

    The legislation was led by U.S. Senator Richard Blumenthal, D-Conn.

    A summary of the legislation is here.



    MIL OSI USA News

  • MIL-OSI: Key advantages of investing in Bajaj Finserv Consumption Fund

    Source: GlobeNewswire (MIL-OSI)

    PUNE, India, March 17, 2025 (GLOBE NEWSWIRE) — India’s evolving consumption landscape offers opportunity to investors, thanks to a growing middle class and shifting consumer habits. The Bajaj Finserv Consumption Fund stands as a gateway for those looking to capitalize on this surge. By strategically investing in key sectors poised for growth, this fund targets long-term potential gains driven by rising domestic consumption.

    India’s consumption wave

    The consumption boom in India is powered by a union of socio-economic changes. As more people enter the middle class with increased purchasing power, the demand for a diverse range of goods and services is expected to grow. This transformation is shaped by several trends:

    Rising affluence: India is seeing a shift toward more affluent consumers, who are now prioritizing quality over quantity in their purchasing decisions. The demand for luxury and premium products is rapidly increasing, with people seeking value-added goods that improve their lifestyles.

    Health and wellness: A growing focus on well-being has led to a rise in demand for health-centric products. Consumers are now more conscious about what they consume, choosing items that align with a health-conscious lifestyle, such as organic food, fitness-related products, and immunity-boosting supplements.

    Convenience: Convenience-driven purchasing has skyrocketed, with online shopping, food delivery, and quick-service solutions gaining traction. Today’s consumers want easy and fast access to products, shifting the retail sector toward e-commerce and other digital platforms.

    Broadening consumption horizons: India’s rural markets are registering growing demand and provide an opportunity for driving the consumption sector.

    How the Bajaj Finserv Consumption Fund taps into these trends

    The Bajaj Finserv Consumption Fund seeks to leverage these trends by investing in companies directly benefiting from India’s growing consumption sector. Here’s how it aligns with the evolving market:

    Investing in high-growth sectors: The fund targets businesses that are positioned to capitalize on the changing consumer behaviour. By investing in emerging sectors, it taps into the rapid growth driven by rising disposable incomes and evolving consumer preferences.

    Focused approach: Staying true to its theme, the fund focuses on sectors and companies directly impacted by increased consumption. This detailed and defined strategy ensures that every investment decision aligns with the broader goal of capturing growth in the consumption space.

    Diverse market exposure: Unlike traditional funds that focus solely on large cap stocks, the Bajaj Finserv Consumption Fund adopts a more flexible approach. It invests across the market cap spectrum, balancing the stability of established firms with the growth potential of mid and small cap companies.

    Future-oriented investment philosophy: The fund focuses on long-term growth by identifying emerging trends and high-potential companies. This proactive approach ensures that the fund remains ahead of the curve and positions itself to benefit from the next wave of consumption-driven growth.

    Who should consider this fund?

    The Bajaj Finserv Consumption Fund may be well-suited for a wide range of investors. Whether you are looking for high-growth potential or diversification in your existing portfolio, this fund offers several advantages:

    Lumpsum investors: For those looking to make a one-time investment, the fund presents a unique opportunity to tap into India’s expanding consumption market.

    Risk-tolerant investors: If you are open to higher risks in pursuit of returns, this fund aligns well with your objectives. The consumption sector has the potential for both high growth and volatility, making it suitable for those with a higher risk tolerance.

    Tactical portfolio diversification: If you want to add depth and variety to your equity portfolio, this fund can be a way to diversify into a specific sector that shows tremendous growth potential. It complements broader investment strategies and enhances overall portfolio performance.

    Long-term investors: The fund is a suitable option for those with a five-year or more investment horizon. By focusing on long-term growth, the fund allows investors to ride out market fluctuations while benefiting from the overall rise in consumption.

    Enhancing your investment strategy

    To optimize the potential of your investment, consider using tools like a monthly SIP calculator. This tool allows you to systematically invest small amounts over time, leveraging the power of compounding and making it easier to achieve your investment goals in the long run.

    The Bajaj Finserv Consumption Fund offers opportunity to invest in India’s dynamic consumption sector. With its focused investment strategy and forward-looking approach, it may benefit from the projected growth in domestic consumer demand. Whether you are a seasoned investor or just getting started, this fund provides the tools and strategy necessary to tap into the evolving consumption trends and build wealth for the future.

    Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

    This document should not be treated as endorsement of the views/opinions or as investment advice. This document should not be construed as a research report or a recommendation to buy or sell any security. This document is for information purpose only and should not be construed as a promise on minimum returns or safeguard of capital. This document alone is not sufficient and should not be used for the development or implementation of an investment strategy. The recipient should note and understand that the information provided above may not contain all the material aspects relevant for making an investment decision. Investors are advised to consult their own investment advisor before making any investment decision in light of their risk appetite, investment goals and horizon. This information is subject to change without any prior notice.

    Bajaj Finserv Consumption Fund is an open ended equity scheme following consumption theme.

    Contact Info:

    Phone no.: 1800-3093900

    Name: Gaurav Parmar

    Email: gaurav.parmar@bajajamc.com

    Organization: Bajaj Finserv Asset Management

    Disclaimer: This press release is provided by the Bajaj Finserv Asset Management. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b95feccc-47af-4ee5-bb65-42b2ef1a7e0b

    The MIL Network

  • MIL-OSI USA: Making it Easier to Report Drug Price Spikes

    Source: US State of New York

    overnor Kathy Hochul today announced the launch of DFS Connect; a new digital program launched by the Department of Financial Services (DFS) that will centralize the Department’s interactions with both regulated entities and consumers and ensure better service to businesses and consumers. Building on the State’s actions to protect New Yorkers from rising drug costs, the initial functions launched today on DFS Connect provide a streamlined and transparent way to file complaints for prescription drug prices that increase more than 50 percent over the course of a year and Pharmacy Benefit Managers (PBMs). Additionally, individuals can file complaints via mail or by calling the DFS Hotline.

    “New Yorkers deserve a transparent and accessible option for reporting drug price spikes and holding PBMs and drug manufacturers accountable for their rising costs of prescription medication,” Governor Hochul said. “DFS Connect allows for individuals to report these spikes to the State and provide a more efficient service to both consumers and businesses.”

    New York State Department of Financial Services Superintendent Adrienne Harris said, “Over the last three years, we have cultivated a culture of innovation, invested in new technological infrastructure and updated key processes. DFS Connect is a pivotal example of how we are innovating to enhance regulatory oversight while making it easier for New Yorkers and businesses to engage directly with the agency.”

    New York State Health Commissioner Dr. James McDonald said, “Under Governor Hochul’s leadership we continue to protect the health and wellbeing of all New Yorkers and ensure everyone has equitable access to the medications and resources necessary for a quality and healthy life. DFS Connect will give New Yorkers a voice and opportunity to help keep drug prices affordable and drug manufacturers accountable for overpriced prescription medication.”

    Assemblymember Amy Paulin said, “Congratulations to Governor Hochul and her team on the release of DFS Connect. The ever-rising cost of medications impacts all New Yorkers, especially seniors and those living on fixed income. Every step that can be taken to help protect New Yorkers from these cost increases, like the new DFS Connect system, is needed.”

    In 2021, Governor Hochul signed landmark legislation to bring transparency and a comprehensive regulatory structure to otherwise unregulated PBMs. DFS adopted new market conduct regulations to govern PBMs operating in New York State; helping to protect New Yorkers’ access to prescription drugs, prohibiting business practices that increase the cost of certain drugs, and ensuring that small, independent pharmacies compete on a fair playing field with large pharmacies affiliated with Pharmacy Benefit Managers. Since January 2022, DFS has received over 300 complaints regarding PBMs and has recovered a total of more than $1.3 million for pharmacies and consumers.

    With today’s launch of DFS Connect, New Yorkers can now submit complaints about prescription drug spikes, PBMs and drug manufacturers. Once a complaint is submitted through DFS Connect, an individual can track its status in real-time and communicate directly with DFS staff about their issue. DFS Connect eliminates bureaucratic red tape and creates a user-friendly platform that enhances oversight and ensures better service to regulate businesses and consumers alike. Pharmacies will also be able to report problematic business practices of Pharmacy Benefit Managers (PBMs) and drug manufacturers.

    Over the next three years, all of DFS’s regulatory processes and consumer support services will be rolled out on the platform:

    • Q2-Q3 2025: Insurance Acquisition of Control, Reinsurance Agreements, Reinsurer Applications, Disclaimer of Control, Free Trade Zone Applications, Management Services Agreements, Schedule C-1 Filings
    • Q4 2025: Billing and Assessments, Foreclosure Management System Replacement
    • Q1-Q2 2026: Banking & Virtual Currency Examinations
    • Q3-Q4 2026: Licensing and Insurance Examinations
    • Q1-Q2 2027: Full transition of all regulatory processes to DFS Connect, including all consumer complaints

    This tool is also modernizing how DFS oversees financial institutions, ensuring that critical regulatory functions, such as licensing, renewals, examinations and legal filings, are handled seamlessly. Additional functionalities, including insurance-related licensing and examination modules, will be introduced over the next two years, with the full transition to DFS Connect expected in 2026.

    As part of its larger operational transformation, DFS has also invested heavily in strengthening its workforce. Over the past three years, DFS has hired and promoted more than 1,000 individuals, including the first class of financial services examiner trainees since 2018. This investment ensures the Department can effectively oversee New York’s financial and insurance industries while continuing to enhance consumer protections.

    New Yorkers can submit PBM or drug price spike complaints online using DFS Connect, which can be accessed with a new or existing NY.gov account. Paper complaints are available on the Consumer Complaint page, and can be mailed to the Department of Financial Services, Attn: Office of Pharmacy Benefits, 1 Commerce Plaza, Albany, NY 12257. Additionally, the DFS Hotline is staffed Monday through Friday, from 8:30 AM to 4:30 PM. Call DFS at (800) 342-3736.

    For more information or to sign up for DFS Connect, visit the DFS website or the DFS Connect platform.

    MIL OSI USA News

  • MIL-OSI United Nations: Secretary-General’s video message to the Ninth Annual Brussels Conference “Standing with Syria: meeting the needs for a successful transition”

    Source: United Nations

    Download the video:
    https://s3.us-east-1.amazonaws.com/downloads2.unmultimedia.org/public/video/evergreen/MSG+SG+/SG+07+March+25/3347660_MSG+SG+STANDING+WITH+SYRIA+BRUSSELS+07+MAR+25.mp4

    Excellencies, distinguished guests,

    I thank the European Union for hosting this Conference.

    This is a watershed moment for Syria.

    Syrians are on the threshold of a historic opportunity to realize their aspirations for a peaceful, prosperous and inclusive future.

    But the road ahead is a rocky one.

    After 14 years of war, Syria’s economy has lost out on an estimated $800 billion in GDP.

    Infrastructure for critical services has been devastated.

    And millions of Syrians — inside and outside Syria — continue to need massive levels of support for food, shelter, basic services and livelihoods.

    This includes the thousands of Syrians who have returned since December.

    And it includes the five million Syrian refugees in neighboring countries who are deciding their next step.

    In all, over two-thirds of the population require humanitarian assistance, making Syria one of the largest humanitarian crises in the world. 

    But funding for the humanitarian response continues to fall short.

    The international community must move with urgency to invest in Syria’s future,

    By expanding humanitarian support and reconsidering any cuts to funding at this critical time.

    By investing in Syria’s recovery, including addressing sanctions and other restrictions.

    And by supporting efforts to ensure an orderly and inclusive political transition, along with the creation of institutions that serve, reflect and protect all Syrians.

    The future of Syria is a matter for Syrians to determine, and my Special Envoy is working with them to help shape that future.

    The United Nations remains committed to helping Syrians build a country where reconciliation, justice, freedom, and prosperity are shared realities for all.

    This is the path to sustainable peace in Syria.

    A Syria for all Syrians.

    A prosperous and thriving Syria.

    A Syria — finally — at peace.

    Let’s work together to help the people of Syria as they take these momentous next steps in their journey towards a free, prosperous and peaceful future.

    ***
     

    MIL OSI United Nations News

  • MIL-OSI: Progress to Report First Quarter 2025 Financial Results on March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    BURLINGTON, Mass.,, March 17, 2025 (GLOBE NEWSWIRE) — Progress (Nasdaq: PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced that it will release financial results for its fiscal first quarter of 2025 after the market close on Monday, March 31, 2025. Progress will host a conference call to review and discuss the results at 5:00 p.m. ET the same day. The company’s first quarter of fiscal year 2025 ended on February 28, 2025.

    Conference Call Details
    A live webcast of the call will be available using this link.

    To access the conference call by phone, please use this link to retrieve dial-in details. To avoid delays, we encourage participants to dial into the conference call 15 minutes ahead of the scheduled start time.

    An archived version of the conference call and supporting materials will be available on the Progress Investor Relations webpage after the live conference call.

    About Progress  
    Progress (Nasdaq: PRGS) empowers organizations to achieve transformational success in the face of disruptive change. Our software enables our customers to develop, deploy and manage responsible AI-powered applications and digital experiences with agility and ease. Customers get a trusted provider in Progress, with the products, expertise and vision they need to succeed. Over 4 million developers and technologists at hundreds of thousands of enterprises depend on Progress. Learn more at www.progress.com.

    Progress is a trademark or registered trademark of Progress Software Corporation and/or its subsidiaries or affiliates in the U.S. and other countries. Any other names contained herein may be trademarks of their respective owners.   

    Source: Progress Software Corporation

    The MIL Network

  • MIL-OSI Global: Thirty years ago Ukraine got rid of its nuclear arsenal – now the people regret that decision

    Source: The Conversation – UK – By Jennifer Mathers, Senior Lecturer in International Politics, Aberystwyth University

    Around 73% of Ukrainians now want their country to “restore” its nuclear weapons, according to a recent opinion poll. A majority of Ukrainians (58%) were in favour of Ukraine owning nuclear weapons, even if this meant losing western allies.

    This suggests an underlying regret that Ukraine agreed to relinquish the world’s third largest nuclear arsenal as part of the Budapest Memorandum around 30 years ago. This agreement, signed in December 1994, provided security guarantees for Ukraine from the US, the UK and Russia in return for giving up the weapons. Ukraine also agreed it would not acquire nuclear weapons in the future.

    The focus on nuclear weapons is intensifying all over Europe. This week the Polish president, Andrzej Duda, called on the US to station its nuclear weapons in his country to deter Russian attacks. He cited Moscow’s decision to deploy nuclear weapons just across the border in Belarus during 2023 as part of his reasoning.

    Trump’s apparent weakening commitment to Nato has also prompted the French president, Emmanuel Macron, to suggest that France could extend protection of its own nuclear weapons to its allies.

    It’s clear that some Ukrainians now believe that their country would have been less likely to have experienced a Russian invasion if it had held on to its nuclear capacity. Ukrainians now question how much they can rely on other states after the failure of security guarantees that were central to the 1994 agreement.

    The pledges by the US, UK and Russia to protect the sovereignty and independence of Ukraine were put to the test in 2014 when Russia invaded and then annexed Crimea and began providing financial and military backing for militia leaders in eastern Ukraine who claimed to lead pro-Russian separatist movements.




    Read more:
    Are Ukrainians ready for ceasefire and concessions? Here’s what the polls say


    The US and UK imposed economic sanctions against Russia and provided training, equipment and non-lethal weapons to the Ukrainian armed forces. But these measures fell well short of ensuring Ukraine’s sovereignty and were insufficient to help Ukraine retake its territory.

    Similarly, US and UK support for Ukraine since the start of Russia’s full-scale invasion in 2022, although valuable and much appreciated by the Ukrainians, has not been enough to allow Kyiv to completely expel Russian troops from Ukrainian territory.

    What was the Budapest Memorandum?

    What if Ukraine still had nuclear weapons?

    But what if Ukraine had never given up its nuclear weapons? The logic of deterrence suggests that Putin would have not have invaded and attacked a nuclear-armed Ukraine. But the argument that Ukraine should not have surrendered the Soviet nuclear weapons on its territory overlooks the specific circumstances. For while physical components of a nuclear weapons capability – delivery vehicles and nuclear warheads – were within Ukraine’s grasp, the launch codes remained in Moscow, and Russian leaders showed no willingness to relinquish them.

    So, Kyiv would have had no control over whether, when or against whom those weapons might have been used. The risk to Ukraine of becoming the target of another state’s nuclear strike would have been considerable, and the Kyiv government would have been unable to do anything to reduce that risk. Retaining nuclear weapons left over from the Soviet period would have probably made Ukrainians less rather than more secure.




    Read more:
    What is the value of US security guarantees? Here’s what history shows


    Ukraine also lacked the economic resources to maintain the nuclear weapons on its territory, or develop them into a credible deterrent force. In exchange for giving up nuclear weapons, Ukraine received much-needed economic assistance from the west.

    In the 1990s Ukrainian views were shaped by the 1986 accident at the Chernobyl nuclear power plant. This had a devastating and lasting impact on the land and the people in that part of Ukraine, highlighting the risks of the nuclear sector. In 1994, when the Budapest Memorandum was being negotiated, only 30% of Ukrainians were in favour of Ukraine possessing nuclear weapons.

    What now?

    Ukraine would face considerable technical challenges in developing nuclear weapons today, both in creating the necessary quantities of fissile material for warheads and manufacturing delivery vehicles.

    Kyiv would also need to pay for an expensive nuclear weapons development programme at a time when the Ukrainian economy is struggling to supply its soldiers with conventional weapons and meet the needs of civilians.

    And unless Ukraine’s international supporters were on board, Kyiv might face the withdrawal of economic and military aid at a crucial juncture. If Moscow detected any move on Ukraine’s part to develop nuclear weapons, there would be a strong motive for a preemptive Russian strike to put an end to that plan.

    But even though it may not be feasible for Ukraine to develop an independent nuclear deterrent in the short term, Kyiv may feel compelled to pursue a nuclear weapons programme unless Ukraine is provided with serious and reliable security guarantees. With the Trump administration apparently ruling out Nato membership for Ukraine, the onus is on the country’s international supporters to come up with an alternative unless they want to see further nuclear proliferation in Europe.

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

    ref. Thirty years ago Ukraine got rid of its nuclear arsenal – now the people regret that decision – https://theconversation.com/thirty-years-ago-ukraine-got-rid-of-its-nuclear-arsenal-now-the-people-regret-that-decision-251733

    MIL OSI – Global Reports

  • MIL-OSI: PIMCO Announces 2025 Managing Directors

    Source: GlobeNewswire (MIL-OSI)

    NEWPORT BEACH, Calif., March 17, 2025 (GLOBE NEWSWIRE) — PIMCO, a global leader in active fixed income with deep expertise across public and private markets, is pleased to share the promotion of the officers of the firm to Managing Director.

    “Our goal is to have a Managing Director group as a collective that represents broad skillsets and expertise across our business globally, and leaders who embody PIMCO’s core values and our commitment to integrity and excellence – the key elements of our culture”, said PIMCO Chief Executive Officer Emmanuel Roman and PIMCO Group Chief Investment Officer Daniel Ivascyn.

    The following officers have been promoted to Managing Director with these objectives in mind: 

    Ben Ensminger-Law
    Mr. Ensminger-Law is a managing director and portfolio manager in the New York office. Prior to joining PIMCO in 2018, he was an analyst at Claren Road and previously worked at Citigroup in the U.S. and Asia. He began his career at MMC and has 24 years of investment experience. He holds an MBA from the University of Virginia and a bachelor’s degree from Brown University.

    Esteban Burbano
    Mr. Burbano is a managing director and fixed income strategist in the New York office. He joined PIMCO in 2009. Prior to joining PIMCO, Mr. Burbano was at Goldman Sachs and Bank of America. He has 21 years of investment experience and holds an MBA from the Wharton School at the University of Pennsylvania, where he also received undergraduate degrees in economics and engineering.

    Kirill Zavodov
    Mr. Zavodov is a managing director and portfolio manager in the London office. Prior to joining PIMCO in 2020, he was a managing director in the merchant banking division of Goldman Sachs. He began his career at The Blackstone Group. He has 14 years of investment experience and holds a Ph.D. in financial economics from the University of Cambridge.

    Rachit Jain
    Mr. Jain is a managing director and portfolio manager in the London office. Prior to joining PIMCO in 2009, he was an assistant director in the principal trading group at Royal Bank of Scotland/ABN Amro. He has 17 years of investment experience and holds master’s and undergraduate degrees in mathematics and computing from the Indian Institute of Technology (IIT) in Delhi, India.

    Sam Watkins
    Mr. Watkins is a managing director and head of PIMCO’s business in Australia and New Zealand. Prior to joining PIMCO in 2022, he worked at Goldman Sachs. Previously, he worked at Deutsche Bank, Credit Suisse, and Macquarie Bank in Australia. He has 24 years of investment and financial services experience and holds an undergraduate degree in agricultural economics from the University of Sydney.

    DISCLOSURES

    About PIMCO 

    PIMCO is a global leader in active fixed income with deep expertise across public and private markets. We invest our clients’ capital across a range of fixed income and credit opportunities, drawing upon our decades of experience navigating complex debt markets. Our flexible capital base and deep relationships with issuers have helped us become one of the world’s largest providers of traditional and nontraditional solutions for companies that need financing and investors who seek strong risk-adjusted returns.

    Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO’s sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.

    Contact:
    Michael Reid
    Global Head of Corporate Communications
    Ph. 212-597-1301
    Email: michael.reid@pimco.com

    The MIL Network

  • MIL-OSI: Hover Group launches BRMG Experiential, welcomes industry veteran Dack Heslop

    Source: GlobeNewswire (MIL-OSI)

    HAMILTON, Ontario, March 17, 2025 (GLOBE NEWSWIRE) — Hover Group™ is thrilled to announce the launch of BRMG Experiential—a bold new division within Black Rock Marketing Group (BRMG™) dedicated to redefining brand engagement. As we continue to grow as a leading marketing syndicate, this expansion is more than just about experiential marketing—it’s about pushing the boundaries of marketing itself, creating high-impact experiences that leave a lasting impression.

    As part of this expansion, industry veteran Dack Heslop joins the BRMG family, bringing his deep expertise and established book of business in experiential marketing and a track record of delivering world-class activations for leading brands like American Standard, HOYA, IPEX, Chevron, and Zwilling.

    Our Experiential division will elevate BRMG’s offering by delivering seamless, unforgettable brand activations. By merging expertise in innovation and execution, BRMG Experiential will offer a comprehensive suite of services, including immersive live events, cutting-edge digital experiences, and large-scale activations. This new division is designed to help brands connect with audiences in meaningful and measurable ways, ensuring unforgettable engagements that drive impact.

    “Experiential marketing has evolved from a nice-to-have to a necessity in a brand’s strategy,” said Alex Verdurmen, Partner at Hover Group. “At Hover Group, we’re committed to shaping the future of marketing by investing in forward-thinking capabilities and proven expertise. The launch of BRMG Experiential, alongside Dack and his experience, this is more than just an expansion—it’s a strategic move to redefine brand engagement. In adding him to the team, we’re setting a new standard for experiential marketing, creating high-impact activations that leave a lasting impression.”

    With decades of experience leading experiential programs, Dack Heslop has built a reputation for creating activations that are as strategically sound as they are unforgettable. Dack has launched groundbreaking experiences across all channels with extensive experience with B2B, B2C and D2C. These experiences contribute to a portfolio of successful campaigns that have set industry benchmarks for engagement and impact.

    “BRMG has built a name for itself on executional excellence, and that’s exactly what experiential marketing demands,” said Dack Heslop, VP Experiential at BRMG. “Joining this team means we can push creative boundaries while maintaining the precision that sets BRMG apart. Very excited to bring our collective expertise to brands that want to stand out and truly engage their audiences.”

    With this move, BRMG solidifies itself as a single source solution for brands seeking high-impact marketing solutions. Backed by the resources and expertise of Hover Group, BRMG Experiential is set to redefine how brands activate, engage, and leave lasting impressions.

    “This expansion is a testament to Hover Group’s commitment to identifying industry experts and empowering leaders to build domain expertise within our portfolio,” said Matthew Hollingshead, Partner at Hover Group. “By bringing in proven talent like Dack Heslop, we’re not just expanding our leadership team—we’re reinforcing our ability to deliver best-in-class solutions across marketing disciplines, ensuring that our clients receive innovative and impactful brand experiences.”

    For more information on BRMG, visit TheBRMG.com.

    About Black Rock Marketing Group (BRMG)

    BRMG is a full-service marketing agency specializing in strategic brand activations, retail marketing, and experiential solutions. Known for its flawless execution and innovative approach, BRMG helps brands connect with consumers through immersive experiences that drive engagement and long-term loyalty.

    About Hover Group

    Hover Group is a strategic growth partner that acquires and scales high-potential businesses in marketing, technology, and consumer services. With a focus on operational excellence and innovation, Hover Group empowers its portfolio companies to reach new heights through strategic leadership, financial expertise, and industry connections.

    Contact:
    Dack Heslop 
    dheslop@thebrmg.com

    The MIL Network

  • MIL-OSI: Bitget Lists Mubarak (MUBARAK) in the Innovation and Meme Zone

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, March 17, 2025 (GLOBE NEWSWIRE) —

    Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of Mubarak (MUBARAK), a trending memecoin on BNB Chain, on its platform. Trading of MUBARAK/USDT will commence on 17 March 2025, 9:00 (UTC).

    On 15 March , Binance founder CZ posted a message on Binance Square titled “I’m going to meet a friend this weekend” with a Mubarak-related meme picture. After the post, MUBARAK rose by more than 150%, with a market value of over $20 million, sparking significant interest from traders and investors alike. The listing on Binance Alpha acted as a catalyst for the token’s explosive growth. MUBARAK then experienced a sharp increase in value, with market capitalization briefly surging to $52 million.

    The addition of MUBARAK highlights Bitget’s focus on emerging trends and offering diverse assets that reflect the evolving interests of crypto traders and enthusiasts. As meme coins continue to gain popularity, Bitget ensures users have access to standout tokens that resonate with market trends and evolving community interests.

    The MUBARAK listing further enriches the portfolio of assets available in the Meme Zone, a segment customized for tokens that show cultural relevance. Bitget has consistently expanded its market share in both spot and derivatives trading among centralized exchanges. With an extensive selection of over 900 cryptocurrency pairs and a commitment to broaden its offerings to more than 900 trading pairs, Bitget connects users to various ecosystems, including Bitcoin, Ethereum, Solana, Base, and TON.

    For more details on MUBARAK, users can visit here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 100 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin priceEthereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

    Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    For more information, users can visit: WebsiteTwitterTelegramLinkedInDiscordBitget Wallet
    For media inquiries, users can contact: media@bitget.com

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

    Contact

    Simran Alphonso
    media@bitget.com

    The MIL Network

  • MIL-OSI: Fastest Way to Make Money: From Zero to Millions, Why Cloud Mining Will Become the New Favorite Among Investors in 2025

    Source: GlobeNewswire (MIL-OSI)

    Washington, D.C., March 17, 2025 (GLOBE NEWSWIRE) — With the continuous advancement of blockchain technology, cloud mining has become a new hotspot attracting global investors’ attention. Unlike traditional mining methods, cloud mining does not require purchasing expensive hardware or mastering complicated technical knowledge. It offers lower entry barriers and more stable returns. Recently, the JAmining platform has quickly gained popularity among investors thanks to its free registration, simple operation, and attractive profitability.

    How Does JAmining Help Investors Start Cloud Mining Easily

    JAmining is committed to providing investors with a convenient cloud mining experience. The platform offers completely free registration, allowing users to start their mining journey quickly without any upfront costs, immediately accessing the benefits brought by blockchain technology.

    “Start making money”

    1. Register a JAMining account

    Click the “Get Your $100” button and follow the simple steps to complete the registration and start your cloud mining journey

    2. Select a contract plan

    JAMining provides flexible contract plans to meet the needs of different investors and help you achieve your ideal profit goals. The following are some contract examples:

    •  Basic Cloud Computing Plan Invest $200, contract period 2 days, profit $214
    •  Classic Cloud Computing Plan Invest $500, contract period 3 days, profit $527
    •  Advanced Cloud Computing Plans Invest $1000, contract period 5 days, profit $1095.
    •  Super Cloud Computing Plan Invest $5800, contract period 14 days, profit $7424

    Platform reputation guarantee

    • JA Mining is a global company legally registered in the UK, authorized and regulated by the UK Financial Services Authority (FCA)
    • Has more than 100 global data centers located in Eastern Europe, North America, the Middle East and South America
    • Always abide by local laws and regulations to provide users with safe and stable services

    Cutting-Edge Technology Ensures Daily Earnings up to $100,000

    JAmining employs industry-leading blockchain mining technology and is supported by a professional technical team, ensuring secure and stable platform operations.  users can achieve daily earnings of up to $100,000, clearly demonstrating the platform’s strong profitability and technological advantages.

    Fully Transparent with No Hidden Fees

    JAmining adheres strictly to transparency in its operations, ensuring users never have to worry about hidden fees. All platform information and terms are fully transparent, allowing investors to participate confidently and enjoy the benefits of cloud mining with peace of mind.

    Join JAmining Now and Get $100 Free to Kickstart the New Era of Cloud Mining!

    The cloud mining market is experiencing unprecedented growth opportunities. JAmining platform, with its free registration, instant $100 startup bonus, cutting-edge technology, and fully transparent operations, provides investors with the ideal entry point into the cloud mining sector. Join JAmining for free today, claim your $100 startup bonus, and seize the wealth opportunities in the cloud mining era!

    Official Website: https://jamining.com/
    Email: info@jamining.com

    Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. Cryptocurrency mining and staking involve risk. There is potential for loss of funds. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

    The MIL Network

  • MIL-OSI USA: Response to RFI on Development of AI Action Plan

    Source: US State of New York

    overnor Kathy Hochul today announced New York State’s comments in response to the request for information on the development of an Artificial Intelligence Action Plan from the Trump Administration. As a global leader in AI and related technologies, New York has driven advancements that have furthered America’s national and economic security, expanded the safe deployment and use of AI, created high-quality jobs, and expanded access to high performance computing systems. New York is home to world-renowned research institutions, pioneering AI companies, and a thriving innovation ecosystem that has led to increased economic productivity thanks to transformative breakthroughs in AI, semiconductors, and quantum networking and computing. As the federal government develops an AI Action Plan, New York urges the Trump Administration to prioritize global competitiveness and commercialization, intellectual property and research security, and energy innovation and sufficiency.

    “The United States is in a race with China and the rest of the world in the global AI revolution, and with our first-in-the-nation Empire AI Consortium, New York is leading the way. With our world-class innovation economy, energy grid investments, and protection of artists and creators intellectual property rights we stand ready to ensure that AI is a force for good, not just for huge global companies,” Governor Hochul said. “New York is continuing to help New Yorkers launch businesses and access good jobs in this growing economy while building an AI future that is safe, sustainable, and globally competitive. We welcome opportunities to collaborate with the Trump Administration to advance those goals.”

    Governor Hochul’s commitment to advancing New York’s leadership in AI builds on her broader agenda to expand cutting-edge technology development in the Empire State. Last year, Governor Hochul appointed IBM CEO Arvind Krishna and Girls Who Code CEO Dr. Tarika Barrett as co-chairs of the newly created Emerging Technology Advisory Board (the Board) — an independent group of industry leaders tasked with informing and accelerating New York’s transformation into a hub for growth and innovation. The Board released its initial recommendations in December 2024.

    New York State Director of State Operations and Infrastructure Kathryn Garcia said, “We want to harness AI technologies to benefit people and organizations across New York State. As a leader in AI and emerging technology, New York has been making the investments necessary to ensure the U.S. has a comparative advantage over global competitors.”

    New York State Chief Cyber Officer Colin Ahern said, “New York is strong in industry talent, academic expertise, and innovative ideas. We want to ensure those resources strengthen our state and nation and are not siphoned off by our adversaries. Strong research security and intellectual property protections will help make sure the benefits of AI help New Yorkers and Americans.”

    Empire State Development President, CEO and Commissioner Hope Knight said, “New York will continue to leverage our thriving innovation ecosystem to develop and commercialize AI that creates quality jobs, attracts additional investments, and further strengthens our economic security.”

    The Governor previously signed New York’s historic Green CHIPS legislation to drive semiconductor research, development and manufacturing in New York State and announced a $10 billion partnership to bring next-generation chips research to NY CREATES’ Albany NanoTech Complex. The Governor has continued to advance a $620 million Life Science Initiative to support innovation in biomedical research. Additionally, through strategic investments such as the $113.7 million Battery-NY initiative, Governor Hochul has fueled the growth of the sustainability, green technology and energy storage economies in New York State.

    The Governor’s innovation agenda has catalyzed major public and private investments, transforming New York’s economy and creating good-paying jobs of the future. GlobalFoundries recently announced an $11.6 billion investment to expand its chip manufacturing campus in New York’s Capital Region, creating 1,500 direct jobs and thousands of indirect jobs. In 2022, Micron announced a 20-year, $100 billion investment to create a megafab campus in Central New York, creating 50,000 new direct and indirect jobs and unlocking hundreds of millions of dollars in community benefits.

    MIL OSI USA News

  • MIL-OSI: AJ DiCarlo Joins Rate as Mortgage Loan Originator in Florida Panhandle

    Source: GlobeNewswire (MIL-OSI)

    DESTIN, Fla., March 17, 2025 (GLOBE NEWSWIRE) — Rate, a leader in fintech mortgage solutions, is pleased to welcome AJ DiCarlo as a Mortgage Loan Originator serving homebuyers, investors, and homeowners throughout the Florida Panhandle.

    A 21-year U.S. Air Force veteran, DiCarlo served as a Special Operations Combat Airspace Manager, demonstrating leadership and precision in high-stakes environments. Now, he brings that same commitment to excellence and service to the mortgage industry, helping individuals and families navigate home financing with confidence.

    “The attraction of being a Mortgage Loan Originator was brought on by my undying desire to serve,” said DiCarlo. “The joy of assisting first-time homebuyers in living out their dream of purchasing their first home, aiding real estate investors in expanding their real estate portfolio and creating generational wealth, and helping existing homeowners with a refinance to ease some of the burden their current monthly obligations may bring them is what keeps me going.”

    With deep roots in Fort Walton Beach, DiCarlo understands the unique needs of buyers and homeowners in the Florida Panhandle. Whether guiding first-time buyers, supporting investors in growing their real estate portfolios, or assisting homeowners in refinancing, he is dedicated to providing personalized mortgage solutions.

    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 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; and Chicago Tribune’s Top Workplaces list for seven straight years. Visit rate.com for more information.

    Media Contact
    press@rate.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7dd8226a-df6a-461c-bd1f-54128d9da78a.

    The MIL Network

  • MIL-OSI Africa: Global crises have hit education hard: 24 years of research offers a way forward for southern Africa

    Source: The Conversation – Africa – By Emmanuel Ojo, Associate Professor, University of the Witwatersrand

    Global crises have shaped our world over the past two decades, affecting education systems everywhere. Higher education researcher Emmanuel Ojo has studied the impact of these disruptions on educational opportunities, particularly in southern Africa.

    He looked at 5,511 peer-reviewed articles published between 2000 and 2024 to explore what the research suggests about making education systems more resilient. Here, he answers some questions about his review.


    What are the global crises that have undermined education?

    In my review I drew up a table documenting how multiple crises have disrupted education systems worldwide.

    The cycle began with the 2000-2002 dot-com bubble collapse, which reduced education funding and slowed technological integration. This was followed by the 2001 terrorist attacks, Severe Acute Respiratory Syndrome (SARS) outbreak (2002-2004), Iraq War (2003-2011), Indian Ocean tsunami (2004), and Hurricane Katrina (2005). The Israeli-Palestinian conflict since 2000, global food crisis (2007-2008), financial crisis (2007-2008), and European debt crisis (2010-2012) continued this pattern of disruption.

    More recently, the Ebola epidemic, COVID-19 pandemic, and Russia-Ukraine war have destabilised education systems. Meanwhile, the ongoing climate crisis creates challenges, particularly in southern Africa where environmental vulnerability is high.

    Who suffers most, and in what ways?

    Education has consistently been among the hardest-hit sectors globally. According to Unesco, the COVID pandemic alone affected more than 1.6 billion students worldwide.

    But the impact is not distributed equally.

    My research shows crises have put vulnerable populations at a further disadvantage through school closures, funding diversions, infrastructure destruction and student displacement. Quality and access decline most sharply for marginalised communities. Costs rise and mobility is restricted. Food insecurity during crises reduces attendance among the poorest students.

    In southern Africa, the Covid-19 disruption highlighted existing divides. Privileged students continued learning online. Those in rural and informal settlements were completely cut off from education.

    Climate change compounds these inequalities. Unicef highlights that climate disasters have a disproportionate impact on schooling for millions in low-income countries, where adaptive infrastructure is limited.

    What’s at stake for southern Africa is the region’s development potential and social cohesion. The widening of educational divides threatens to create a generation with unequal opportunities and capabilities.

    What makes southern African education systems fragile?

    My review focused on the 16 countries of the Southern African Development Community, revealing what makes them vulnerable to crisis impacts.

    Southern Africa’s geographic exposure to climate disasters combines with pre-existing economic inequalities. The region’s digital divide became starkly visible during the Covid-19 pandemic. Some students were excluded from learning by limited connectivity and unreliable electricity.

    The region’s systems also rely on external funding. The Trump administration’s sudden foreign aid freeze was a shock to South Africa’s higher education sector. It has affected public health initiatives and university research programmes.

    Research representation itself is unequal. Within the region, South African researchers dominate and other nations make only limited contributions. This creates blind spots in understanding context-specific challenges and solutions.

    Each successive crisis deepens educational divides, making recovery increasingly difficult and costly. Weaker education systems make the region less able to respond to other development challenges, too.

    How can southern Africa build education systems to withstand crises?

    One striking finding from my review was the surge in educational research after the Covid-19 pandemic began – from 229 studies in 2019 to nearly double that in 2020, with continued rapid growth thereafter. This indicates growing recognition that education systems must be redesigned to withstand future disruptions, not merely recover from current ones.

    Research points to a number of ways to do this:

    • Strategic investment in educational infrastructure, particularly digital technologies, to ensure learning continuity.

    • Equipping educators with skills to adapt teaching methods during emergencies.

    • Innovative, context-appropriate teaching approaches that empower communities.

    • Integration of indigenous knowledge systems into curricula, enhancing relevance, adaptability and community ownership.

    • Interdisciplinary and cross-national research collaborations.

    • Protection of education budgets, recognising education’s role in crisis recovery and long-term stability.

    • Community engagement in education, ensuring interventions are culturally appropriate and widely accepted.

    In my view, African philanthropists have a duty to provide the independent financial base that education systems need to withstand external funding fluctuations.

    What’s the cost of doing nothing?

    The economic and social costs of failing to build resilient education systems are profound and long-lasting. Each educational disruption creates negative effects that extend far beyond the crisis period.

    When students miss critical learning periods, it reduces their chances in life. The World Bank estimates that learning losses from the Covid-19 pandemic alone could result in up to US$17 trillion in lost lifetime earnings for affected students globally.

    Social costs are equally severe. Educational disruptions increase dropout rates, child marriage, early pregnancy, and youth unemployment. These outcomes create broader societal challenges that require costly interventions across multiple sectors.

    Spending on educational resilience avoids those costs.

    The question isn’t whether southern African nations can afford to invest in educational resilience, but whether they can afford not to.

    The choices made today will determine whether education systems merely survive crises or make society better. Evidence-based policies and regional cooperation are essential for building education systems that can fulfil Southern Africa’s human potential.

    – Global crises have hit education hard: 24 years of research offers a way forward for southern Africa
    – https://theconversation.com/global-crises-have-hit-education-hard-24-years-of-research-offers-a-way-forward-for-southern-africa-251833

    MIL OSI Africa

  • MIL-OSI United Nations: 17 March 2025 Statement Third meeting of the International Health Regulations (2005) Emergency Committee regarding the upsurge of mpox 2024

    Source: World Health Organisation

    The Director-General of the World Health Organization (WHO) is hereby transmitting the report of the third meeting of the International Health Regulations (2005) (IHR) Emergency Committee (Committee) regarding the upsurge of mpox 2024, held on Tuesday, 25 February 2025, from 12:00 to 17:00 CET.

    Concurring with the advice unanimously expressed by the Committee during the meeting, the WHO Director-General determined that the upsurge of mpox 2024 continues to meet the criteria of a public health emergency of international concern (PHEIC) and, accordingly, on 27 February 2025, issued temporary recommendations to States Parties.

    The WHO Director-General expresses his most sincere gratitude to the Chair, Members, and Advisors of the Committee.

    Proceedings of the meeting

    Sixteen (16) Members of, and two Advisors to, the International Health Regulations (2005) (IHR) Emergency Committee (Committee) were convened by teleconference, via Zoom, on Tuesday, 25 February 2025, from 12:00 to 17:00 CET. Fourteen (14) of the 16 Committee Members, and one of the two Advisors to the Committee participated in the meeting.

    On behalf of the Director-General of the World Health Organization (WHO), the Deputy Director-General welcomed Members of and Advisors to the Committee, as well as Government Officials designated to present their views to the Committee on behalf of the ten invited States Parties – Burundi, Canada, China, the Democratic Republic of the Congo (DRC), Nepal, Nigeria, Rwanda, Sierra Leone, Uganda, United Arab Emirates and United Kingdom of Great Britain and Northern Ireland (United Kingdom).

    In his opening remarks, the WHO Deputy Director-General recalled that, on 14 August 2024, the upsurge of mpox was determined to constitute a public health emergency of international concern (PHEIC). He noted that, over the three years from 1 January 2022 through 31 January 2025, almost 130 000 confirmed cases of mpox, including over 280 deaths, were reported to WHO from 130 countries and territories in all six WHO Regions, including seven countries and territories that had reported their first mpox cases since the previous meeting of the Committee on 22 November 2024. The WHO African Region, where some States Parties are continuing to experience sustained community transmission, accounts for 61% of the cases and 72% of the deaths reported globally over the past 12 months.

    The WHO Deputy Director-General highlighted that, since the last meeting of the Committee, the epidemiological situation continues to be volatile. Despite observed improvements pertaining to several aspects of the response – emergency coordination, surveillance, laboratory diagnostics, empowerment of communities, furthering equitable access to medical countermeasures and tools – several critical challenges had emerged, including: (a) rising geopolitical instability in the DRC due to escalating conflict affecting mpox response operations resulting in temporary pauses in operation, relocation of staff and restricted access to affected populations; (b) concurrent health emergencies requiring States Parties and partners to respond (e.g. Sudan virus disease outbreak in Uganda); and (c) uncertainties related to the pause in financial support from the United States of America (United States) occurring in the broader landscape of declining foreign assistance. To date, globally, one-third of the funds supporting the response to mpox had been pledged by the United States. Without sufficient funds, the ability of States Parties, WHO and partners to maintain, sustain, and expand the response to mpox would be compromised.

    The Representative of the Office of Legal Counsel then briefed the Members and Advisors on their roles and responsibilities and identified the mandate of the Committee under the relevant articles of the IHR. The Ethics Officer from the Department of Compliance, Risk Management, and Ethics provided the Members and Advisors with an overview of the WHO Declaration of Interests process. The Members and Advisors were made aware of their individual responsibility to disclose to WHO, in a timely manner, any interests of a personal, professional, financial, intellectual or commercial nature that may give rise to a perceived or actual conflict of interest. They were additionally reminded of their duty to maintain the confidentiality of the meeting discussions and the work of the Committee. Each Member and Advisor was surveyed, with no conflicts of interest identified.

    The meeting was handed over to the Chair who introduced the objectives of the meeting, which were to provide views to the WHO Director-General on whether the event continues to constitute a PHEIC, and if so, to provide views on the potential proposed temporary recommendations.

    Session open to representatives of States Parties invited to present their views

    The WHO Secretariat presented an overview of the global epidemiological situation of mpox, including all circulating clades of monkeypox virus (MPXV). Outside the WHO African Region, cases of mpox reported to WHO are associated with the spread of MPXV clade IIb, with a decline in the number of cases reported in recent months. In the WHO African Region, amid the circulation of multiple MPXV clades, the still growing number of cases reported monthly is driven by the spread of MPXV clade Ib. Since the Committee last met, on 22 November 2024, exported travel-related cases of confirmed MPXV clade Ib infection have been detected in eight additional countries outside the WHO African Region.

    The WHO Secretariat then focused on the three countries reporting most cases of MPXV clade Ib since January 2024 – the DRC (over 15 000 cases, including cases in areas where MPXV clade Ia is circulating); Burundi (over 3000 cases, with a sustained decrease reported weekly and a geographic shift to the administrative capital Gitega since the Committee last met); and Uganda (nearly 3000 cases, with an exponential increase in and around the capital Kampala since the Committee last met). Notwithstanding changes in the case definition of mpox cases, uneven surveillance coverage (including due to the conflict in the eastern provinces of the country), and limited laboratory testing capacity in the DRC introducing some challenges in the interpretation of data , the number of mpox cases reported weekly is plateauing and the geographic distribution of cases, in all provinces in the country, remained very similar to the situation presented at the previous meeting of the Committee. Mathematical modelling work suggests that, since the PHEIC was determined in mid-August 2024 in the DRC, the transmission rate has decreased in certain health zones of the North Kivu and South Kivu Provinces, as well as in some health zones of the capital Kinshasa where vaccination efforts are underway.

    The spread of MPXV clade Ia and Ib, in North Kivu, South Kivu, and Kinshasa Provinces of the DRC, as well as in Burundi and Uganda, appears to have started among adults, including through sexual networks involving commercial sex workers and their clients, disproportionately affecting the 20–39 years age group. Since then, in North Kivu and South Kivu Provinces of the DRC, more age group became affected reflecting community transmission through close contact, including household, whereas, in the capital Kinshasa, the spread has remained within the adult population. In Burundi and Uganda, the age distribution of mpox cases shows a bimodal pattern, with high incidence observed among young adults and younger children. This pattern reflects both ongoing sexual transmission and close contact transmission in household settings. The strikingly high proportion of cases among younger children (0-9 age group) observed in Burundi is possibly attributable to transmission occurring within health care facilities settings.

    In addition to the three aforementioned countries, community transmission of MPXV clade Ib is also observed in Kenya, Rwanda, and Zambia, while travel-related imported cases have been reported both, by countries in the WHO African Region (Angola, Zimbabwe, with cases in Tanzania being under investigation), and by 14 countries in the five remaining WHO Regions. Most travel-related imported cases are male and, in instances where limited secondary transmission in the country of importation has occurred, a few children have been infected through household contact, including child-to-child transmission on one occasion. The five imported cases with sole travel history to the United Arab Emirates may signal wider mpox transmission in that country.

    Mortality associated with the different MPXV clades in the WHO African Region, and notwithstanding the limitation of surveillance and laboratory diagnostics in the DRC, clade Ia accounts for the majority of fatal cases (1345), corresponding to an average case fatality rate (CFR%) of 2.5-3%, being highest in children under 1 year of age (4–5%). The CFR attributed with clade Ib infection remains very low at around 0.2%, and similar to the that attributed to clade IIb, with recorded deaths associated with specific risk factors such as uncontrolled HIV and other comorbidities.

    The WHO Secretariat also noted an increase in mpox cases reported in West African countries since the PHEIC was determined in mid-August 2024, including the first cases of mpox, due to MPXV clade IIa, reported by Sierra Leone.

    The WHO Secretariat presented the assessed risk by MPXV clades and further expressed in terms of overall public health risk where any given clade/s is/are circulating, as: Clade Ib – high public health risk in the DRC and neighbouring countries; Clade Ia – moderate public health risk in the DRC; Clade II – moderate public health risk in Nigeria and countries of West and Central Africa where mpox is endemic; and lade IIb – moderate public health risk globally.

    The WHO Secretariat subsequently provided an update on response actions taken together with States Parties and partners since the Committee last met. In addition to the overview provided by the WHO Deputy Director-General, and in the epidemiological overview, the WHO Secretariat provided details on progress and challenges focusing on the aspects of the response outlined below.

    The coordination of emergency operations by the WHO Secretariat was readjusted – including based on action reviews and leveraging the comparative advantages of WHO, State Parties, and partners –prioritizing a flexible, agile, and delivery-focused response. However, while decentralized field operations have intensified, such shifts take time, particularly in specific settings in the DRC and amid changes in geopolitical partnerships. The operational decentralization continues to emphasize increased laboratory diagnostic support, increased dissemination of standards and guidance to deliver safe clinical care, and empowering communities to enhance their efforts to protect themselves from risks associated with mpox.

    Additionally, through the Access and Allocation Mechanism (AAM), WHO and partners (Africa Centres for Disease Control and Prevention (Africa CDC), the Coalition for Epidemic Preparedness Innovations (CEPI), Gavi, The Vaccine Alliance (Gavi), and the United Nations Children’s Fund (UNICEF)) are continuing coordinated and multifaceted efforts to prioritize access to and roll out mpox vaccines in an equitable manner.

    With the WHO Mpox global strategic preparedness and response plan, September 2024-February 2025 (SPRP) reaching the end of its initial timeframe, and considering the response strategy it outlines as still fit for purpose, the WHO Secretariat is planning to release an extension of the plan in the coming weeks.

    In September 2024, the WHO Secretariat launched an appeal for US$ 87.4 million to support mpox response efforts WHO appeal: mpox public health emergency 2024 with US$ 65.5 million raised by the time of this meeting. The contribution from the United States had accounted for 33% of the funds raised, of which US$ 7.5 million is currently inaccessible due to the freeze of funds from the United States. As part of planning for the extension of the SPRP, the WHO Secretariat is conducting a review of available resources to address priority needs and mitigate potential future gaps in the delivery of the response. While the above-mentioned freeze is expected to primarily impact operations in Burundi, the Central African Republic, the DRC, the Republic of the Congo, and Rwanda, broader challenges are anticipated for the second and third quarters of 2025. Given the evolving epidemiological situation and challenges noted above, the reduction in predictable and flexible funding throughout 2025 will put at risk the progress of the mpox response to date.

    Representatives of Burundi, the DRC, Nigeria, Sierra Leone, and Uganda updated the Committee on the mpox epidemiological situation in their countries and their current control and response efforts, needs and challenges, including those related to the freeze of the funds from the United States. The use of mpox vaccine is contemplated in the response plans of the DRC, Nigeria, Sierra Leone, and Uganda. In Burundi, following action review, community-based interventions that are being strengthened in areas experiencing high incident of mpox include risk communication and awareness raising.

    Members of, and the Advisor to, the Committee then engaged in questions and answers, revolving around the issues and challenges enumerated below, with the presenters from States Parties and the WHO Secretariat, as well as with representatives of States Parties invited to submit a written statement to the Committee ahead of the meeting – Canada, China, Nepal, the United Arab Emirates, and the United Kingdom.

    Funding – The Committee reiterated the importance of efforts to mobilize domestic financial resources to support mpox response activities. Burundi and the DRC indicated the funds allocated to the response by their respective Governments, also providing details of specific activities supported. The DRC indicated that, at present, the freeze of the funds from the United States is impacting the transportation of clinical specimens and laboratory diagnostics, with a decline in the testing rate, and that the Government is exploring solutions with other partners. The WHO Secretariat added that alternative funding sources are being explored with non-traditional donors.

    Age distribution of mpox cases – The WHO Secretariat indicated that (a) there are studies ongoing to determine the secondary attack rate by age group and type of exposure; (b) at least in Burundi, there is no evidence of large outbreaks in settings where children are congregating and, hence, supporting evidence of child-to-child transmission; and (c) in the South Kivu Proving of the DRC, it remains unknown the extent to which transmission to children is occurring beyond the household setting.

    Impact of vaccination on transmission – The DRC indicated that, at present, there is no information about whether the use of the limited amount of mpox vaccine available is being effective in interrupting mpox transmission.

    The DRC – The DRC indicated that, due to insecurity and to decrease in laboratory testing rate, any apparent decrease of the number of reported mpox cases may represent an artifact and should be interpreted with caution. The WHO Secretariat highlighted that, being mpox a relatively mild illness, the rate of underreporting is unknown and that the trends of mpox surveillance data are critical to monitor the evolution of the situation. With respect to detection of a new MPXV clade Ia lineage in Kinshasa, the WHO Secretariat indicated that the strain, similarly to clade Ib, has increased human-to-human transmission potential.

    Uganda – Uganda elaborated on the shift of the dynamics of mpox transmission from lower to higher income groups. The initial spread of MPXV clade Ib initiated long-distance truck drivers, it continued in fishing communities, and then within commercial sex networks in the capital Kampala. The fact that more affluent individuals are now affected poses a public health risk both, nationally and internationally. Therefore, the use of mpox vaccine is focused among sex workers in Kampala.

    Nigeria – Nigeria indicated that, in the context of the mpox response, the human health and animal health sectors are working very closely and that, despite the numerous research initiatives, to date, there is no evidence of animal involvement in sustaining the mpox outbreak in the human population. Nigeria, with a population of 200 million persons, indicated that 20 000 doses of mpox vaccine have been used in the country, targeting health care workers, female sex workers, and men who have sex with men.

    The United Arab Emirates – Considering that, in five instances, travel-related imported cases of MPXV clade Ib infection had sole travel history to the United Arab Emirates, the representative of the country (a) indicated that the National IHR Focal Point reported to WHO the first case of MPXV clade Ib infection; (b) briefly described the surveillance, laboratory diagnostic, case management, and risk communication approaches in place; (c) indicated that mpox vaccine is available to health care workers and as a post-exposure measure; and (d) recalled that the country is bilaterally supporting the response efforts of some African countries.

    The United Kingdom – The United Kingdom (a) described the detection, investigation, and clinical and public health management of the travel-related imported mpox cases; and (b) highlighted that the countries of origin of the imported cases are systematically informed about the occurrences.

    Deliberative session

    Following the session open to invited States Parties, the Committee reconvened in a closed session to examine the questions in relation to whether the event constitutes a PHEIC or not, and if so, to consider the temporary recommendations drafted by the WHO Secretariat in accordance with IHR provisions.

    The Chair reminded the Committee Members of their mandate and recalled that a PHEIC is defined in the IHR as an “extraordinary event, which constitutes a public health risk to other States through the international spread of disease, and potentially requires a coordinated international response”.

    The Committee was unanimous in expressing the views that the ongoing upsurge of mpox still meets the criteria of a PHEIC and that the Director-General be advised accordingly

    The overarching considerations underpinning the advice of the Committee are (a) the insecurity in the eastern provinces and in the capital of the DRC – the State Party epicenter of the MPXV clade Ib outbreak –, hampering mpox response field operations and with the potential to morph into a larger scale humanitarian response; (b) the freeze of funding by the United States both, of specific mpox response activities as well as of other, directly or indirectly related, aid interventions; and (c) the continuing detection of travel-related imported mpox cases in States Parties within and outside the WHO African Region.

    On that basis, the Committee considered that:

    The event is “extraordinary” because of (a) the persistent, if not increasing, challenges in gauging the actual magnitude and trend of the MPXV clade Ib outbreak, especially in the DRC. This is thwarting the ability to assess progress, if any, towards controlling the spread of mpox and to adjust response interventions. The Committee’s reading is that, overall, the epidemiological situation is worryingly similar to that observed in November 2024; (b) the unfolding dynamics of MPXV clade Ib transmission, resulting in the shift in age groups affected and, hence, posing challenges in timely targeting response interventions; (c) the co-circulation and the risk of mutations of MPXV clades in the context of sustained community transmission; and (d) the possibility of change in the severity of disease resulting from food insecurity and interruption in the delivery of HIV-related care due to the freeze of aid.

    The event “constitutes a public health risk to other States through the international spread of disease” because of (a) the doubling of the number of States Parties having detected travel-related imported cases of MPXV clade Ib infection since the Committee last met, both in the WHO African Region and in all five other WHO Regions; (b) the possible influx of refugees from the eastern provinces of the DRC into neighbouring countries.

    The event “requires a coordinated international response” because of the needs (a) to mobilize, and optimize the use, of financial and other resources to sustain response efforts, at the required level, in the medium term, following the freeze of funding by the United States; and (b) to continue facilitating and increasing equitable access to mpox vaccines and diagnostics.

    The Committee subsequently considered the draft of the temporary recommendations proposed by the WHO Secretariat

    Anticipating the possibility that the WHO Director-General may determine that the event continues to constitute a PHEIC, the Committee had received a proposed set of revised temporary recommendations ahead of the meeting. This reflected the proposal to extend most of the temporary recommendations issued on 27 November 2024. The Committee indicated that it would be giving them further consideration with a view to share its advice in that regard with the WHO Director-General as soon as possible. In such a way, should the WHO Director-General determine that the event continues to constitute a PHEIC, he could proceed, without delay, with issuing such communication together with a prospective revised set of temporary recommendations.

    The Committee agreed to finalize the report of its third meeting during the week of 3 March 2025.

    Conclusions

    The Committee reiterated its concern regarding the continuing spread of MPXV in and beyond Africa, considering global geopolitical developments, the humanitarian situation in the DRC, as well as the foreseeable options and opportunities to secure sustainable funding to support response efforts. The Committee considered that the determination by the WHO Director-General that the upsurge of mpox still constitutes a PHEIC would be warranted. However, the Committee cautioned about the possible unintended consequences of determining an event to constitute a PHEIC for extended periods of time, since this could undermine the global public health alert function intrinsic to such a determination and reduce the leverage of a PHEIC in boosting domestic and international response efforts for future events. To that effect, the Committee reiterated the need to elaborate on considerations, related to the three criteria defining a PHEIC, that would inform its future advice to the WHO Director-General as to the termination of this PHEIC.

    The Incident Manager for mpox at WHO headquarters, on behalf of the WHO Deputy Director-General, expressed his gratitude to the Committee’s Officers, its Members and Advisor and closed the meeting.

    MIL OSI United Nations News

  • MIL-OSI Africa: Rescuing Nigeria: how to break the cycle of decline and bring progress

    Source: The Conversation – Africa – By Omano Edigheji, Associate Professor of Practice, University of Johannesburg

    Nigeria has abundant human and natural resources but remains mired in underdevelopment. There are high levels of poverty, corruption, unemployment and inequality. The country is currently witnessing a rise in ethnic militias and terrorism, adding to the threats posed by armed herdsmen’s deadly clashes with rural communities over land.

    The nation suffers from poor economic management and a political leadership that has failed to promote structural transformation of the economy and politics.

    I am a political scientist with research specialisation in the political economy of development. In my view, Nigeria’s social, economic and political crises stem from the absence of a grouping of people who put the country’s interests first. I call this grouping a developmentalist coalition.

    I argue that for Nigeria to realise its potential and forge a prosperous shared future, like-minded individuals motivated by the ideology of development nationalism must come together in a coalition.

    Development nationalism refers to the commitment to advancing one’s country and ensuring its prosperity. This includes enhancing the capabilities of its people so they can reach their potential and contribute to national progress. Individuals like this put loyalty to their country above other identities or considerations.

    This coalition must focus on enhancing the nation’s productive capacity and uplifting the well-being of its citizens. Together, they can break the cycle of underdevelopment and achieve lasting progress.

    And this can be measured through the creation of a predictable governance structure characterised by the rule of law and the provision of essential public goods to citizens.


    Read more: Book review: Nigeria has democracy but not development. How to fix it


    Developmental nationalism

    Developmentalist coalitions shape political and economic affairs in most developed nations. In China, Malaysia, Mauritius, South Korea, Singapore and other countries that have tried to catch up with advanced nations, developmental nationalism has played a significant role.

    In some cases, a developmentalist elite creates its own political party. An example of this is the People’s Action Party founded by Singapore’s first prime minister, Lee Kuan Yew, and his colleagues. The Labour Party in Norway, a coalition mostly of workers and farmers, is another example.

    In other instances, members of this elite join different political parties. When developmentalists are the dominant political elite, any party in power ensures that it upholds standards that reflect the core principles upon which the country is founded.

    Developmental elites articulate values that define and bind their nations. They provide moral and political leadership, as Nelson Mandela did in South Africa.

    Most of these elites want to have inclusive economic and political institutions that help them achieve their development objectives.


    Read more: Calls to restructure Nigeria’s federal system are missing the point: the country needs good governance, not reform


    Why Nigeria needs developmentalist coalitions

    Since Nigeria became independent from Britain in 1960, most of those who have overseen the country’s political and economic landscape have not acted in a nationalistic or patriotic manner.

    Instead, they have followed their self-interest and exploited the Nigerian state for personal gain.

    As a result, the economy remains undiversified, with a small and declining manufacturing sector, thereby missing out on the potential for job creation.

    Successive administrations in the last 26 years have allocated less funding to the education sector than the 26% of the national budget recommended by Unesco.

    The political elite have not built an economy that will create decent jobs for the youth. Also, they have fostered an education system that produces graduates who do not have the skills to start enterprises.

    Most young Nigerians are engaged in the informal sector, with its associated problems: unstable jobs, hazardous working conditions, and a lack of decent wages. Most youths are underemployed and in low value-added economic activities. This means Nigeria is missing out on the potential benefits of its youthful population.

    About 70% of Nigeria’s population of over 200 million are under 30 years old, and 41% are younger than 15.

    Political leaders have failed to create an environment that allows them to achieve their full potential.

    In Nigeria, the issue is not the lack of individuals focused on development. These people exist across all segments of the Nigerian society, including government. The real problem is that they haven’t formed a coalition.

    As a result, they cannot act collectively and cohesively to invest in Nigeria’s greatest asset: its people; and to promote industrialisation.

    Now is the time to form the developmentalist coalition to change the governance and development trajectory of the country.


    Read more: Is Nigeria in danger of a coup? What the country should do to avoid one – political analyst


    What to do

    In Nigeria, a broad-based coalition of developmentalist elites needs to be led by individuals with a clear vision for development and national cohesion.

    Members of this coalition could establish a political party to contest elections, gain political power, and use their positions in government to develop the nation.

    Party members must be disciplined and subordinate their personal ambitions to those of the party and the national interests. The party must not become an empire of powerful individuals: instead, its organs must be allowed to function.

    Establishing this coalition is the way to end Nigeria’s endemic corruption and build a robust manufacturing sector and a thriving digital economy.

    It also needs to promote agro-allied industry, investment in infrastructure, job creation and poverty reduction.

    This coalition should aim to transform Nigeria’s democracy into a system where political parties and elected representatives genuinely serve the people.

    – Rescuing Nigeria: how to break the cycle of decline and bring progress
    – https://theconversation.com/rescuing-nigeria-how-to-break-the-cycle-of-decline-and-bring-progress-251639

    MIL OSI Africa

  • MIL-OSI Global: Global crises have hit education hard: 24 years of research offers a way forward for southern Africa

    Source: The Conversation – Africa – By Emmanuel Ojo, Associate Professor, University of the Witwatersrand

    Global crises have shaped our world over the past two decades, affecting education systems everywhere. Higher education researcher Emmanuel Ojo has studied the impact of these disruptions on educational opportunities, particularly in southern Africa.

    He looked at 5,511 peer-reviewed articles published between 2000 and 2024 to explore what the research suggests about making education systems more resilient. Here, he answers some questions about his review.


    What are the global crises that have undermined education?

    In my review I drew up a table documenting how multiple crises have disrupted education systems worldwide.

    The cycle began with the 2000-2002 dot-com bubble collapse, which reduced education funding and slowed technological integration. This was followed by the 2001 terrorist attacks, Severe Acute Respiratory Syndrome (SARS) outbreak (2002-2004), Iraq War (2003-2011), Indian Ocean tsunami (2004), and Hurricane Katrina (2005). The Israeli-Palestinian conflict since 2000, global food crisis (2007-2008), financial crisis (2007-2008), and European debt crisis (2010-2012) continued this pattern of disruption.

    More recently, the Ebola epidemic, COVID-19 pandemic, and Russia-Ukraine war have destabilised education systems. Meanwhile, the ongoing climate crisis creates challenges, particularly in southern Africa where environmental vulnerability is high.

    Who suffers most, and in what ways?

    Education has consistently been among the hardest-hit sectors globally. According to Unesco, the COVID pandemic alone affected more than 1.6 billion students worldwide.

    But the impact is not distributed equally.

    My research shows crises have put vulnerable populations at a further disadvantage through school closures, funding diversions, infrastructure destruction and student displacement. Quality and access decline most sharply for marginalised communities. Costs rise and mobility is restricted. Food insecurity during crises reduces attendance among the poorest students.

    In southern Africa, the Covid-19 disruption highlighted existing divides. Privileged students continued learning online. Those in rural and informal settlements were completely cut off from education.

    Climate change compounds these inequalities. Unicef highlights that climate disasters have a disproportionate impact on schooling for millions in low-income countries, where adaptive infrastructure is limited.

    What’s at stake for southern Africa is the region’s development potential and social cohesion. The widening of educational divides threatens to create a generation with unequal opportunities and capabilities.

    What makes southern African education systems fragile?

    My review focused on the 16 countries of the Southern African Development Community, revealing what makes them vulnerable to crisis impacts.

    Southern Africa’s geographic exposure to climate disasters combines with pre-existing economic inequalities. The region’s digital divide became starkly visible during the Covid-19 pandemic. Some students were excluded from learning by limited connectivity and unreliable electricity.

    The region’s systems also rely on external funding. The Trump administration’s sudden foreign aid freeze was a shock to South Africa’s higher education sector. It has affected public health initiatives and university research programmes.

    Research representation itself is unequal. Within the region, South African researchers dominate and other nations make only limited contributions. This creates blind spots in understanding context-specific challenges and solutions.

    Each successive crisis deepens educational divides, making recovery increasingly difficult and costly. Weaker education systems make the region less able to respond to other development challenges, too.

    How can southern Africa build education systems to withstand crises?

    One striking finding from my review was the surge in educational research after the Covid-19 pandemic began – from 229 studies in 2019 to nearly double that in 2020, with continued rapid growth thereafter. This indicates growing recognition that education systems must be redesigned to withstand future disruptions, not merely recover from current ones.

    Research points to a number of ways to do this:

    • Strategic investment in educational infrastructure, particularly digital technologies, to ensure learning continuity.

    • Equipping educators with skills to adapt teaching methods during emergencies.

    • Innovative, context-appropriate teaching approaches that empower communities.

    • Integration of indigenous knowledge systems into curricula, enhancing relevance, adaptability and community ownership.

    • Interdisciplinary and cross-national research collaborations.

    • Protection of education budgets, recognising education’s role in crisis recovery and long-term stability.

    • Community engagement in education, ensuring interventions are culturally appropriate and widely accepted.

    In my view, African philanthropists have a duty to provide the independent financial base that education systems need to withstand external funding fluctuations.

    What’s the cost of doing nothing?

    The economic and social costs of failing to build resilient education systems are profound and long-lasting. Each educational disruption creates negative effects that extend far beyond the crisis period.

    When students miss critical learning periods, it reduces their chances in life. The World Bank estimates that learning losses from the Covid-19 pandemic alone could result in up to US$17 trillion in lost lifetime earnings for affected students globally.

    Social costs are equally severe. Educational disruptions increase dropout rates, child marriage, early pregnancy, and youth unemployment. These outcomes create broader societal challenges that require costly interventions across multiple sectors.

    Spending on educational resilience avoids those costs.

    The question isn’t whether southern African nations can afford to invest in educational resilience, but whether they can afford not to.

    The choices made today will determine whether education systems merely survive crises or make society better. Evidence-based policies and regional cooperation are essential for building education systems that can fulfil Southern Africa’s human potential.

    Emmanuel Ojo receives funding from National Research Foundation (NRF).

    ref. Global crises have hit education hard: 24 years of research offers a way forward for southern Africa – https://theconversation.com/global-crises-have-hit-education-hard-24-years-of-research-offers-a-way-forward-for-southern-africa-251833

    MIL OSI – Global Reports

  • MIL-OSI Global: Rescuing Nigeria: how to break the cycle of decline and bring progress

    Source: The Conversation – Africa – By Omano Edigheji, Associate Professor of Practice, University of Johannesburg

    Nigeria has abundant human and natural resources but remains mired in underdevelopment. There are high levels of poverty, corruption, unemployment and inequality. The country is currently witnessing a rise in ethnic militias and terrorism, adding to the threats posed by armed herdsmen’s deadly clashes with rural communities over land.

    The nation suffers from poor economic management and a political leadership that has failed to promote structural transformation of the economy and politics.

    I am a political scientist with research specialisation in the political economy of development. In my view, Nigeria’s social, economic and political crises stem from the absence of a grouping of people who put the country’s interests first. I call this grouping a developmentalist coalition.

    I argue that for Nigeria to realise its potential and forge a prosperous shared future, like-minded individuals motivated by the ideology of development nationalism must come together in a coalition.

    Development nationalism refers to the commitment to advancing one’s country and ensuring its prosperity. This includes enhancing the capabilities of its people so they can reach their potential and contribute to national progress. Individuals like this put loyalty to their country above other identities or considerations.

    This coalition must focus on enhancing the nation’s productive capacity and uplifting the well-being of its citizens. Together, they can break the cycle of underdevelopment and achieve lasting progress.

    And this can be measured through the creation of a predictable governance structure characterised by the rule of law and the provision of essential public goods to citizens.




    Read more:
    Book review: Nigeria has democracy but not development. How to fix it


    Developmental nationalism

    Developmentalist coalitions shape political and economic affairs in most developed nations. In China, Malaysia, Mauritius, South Korea, Singapore and other countries that have tried to catch up with advanced nations, developmental nationalism has played a significant role.

    In some cases, a developmentalist elite creates its own political party. An example of this is the People’s Action Party founded by Singapore’s first prime minister, Lee Kuan Yew, and his colleagues. The Labour Party in Norway, a coalition mostly of workers and farmers, is another example.

    In other instances, members of this elite join different political parties. When developmentalists are the dominant political elite, any party in power ensures that it upholds standards that reflect the core principles upon which the country is founded.

    Developmental elites articulate values that define and bind their nations. They provide moral and political leadership, as Nelson Mandela did in South Africa.

    Most of these elites want to have inclusive economic and political institutions that help them achieve their development objectives.




    Read more:
    Calls to restructure Nigeria’s federal system are missing the point: the country needs good governance, not reform


    Why Nigeria needs developmentalist coalitions

    Since Nigeria became independent from Britain in 1960, most of those who have overseen the country’s political and economic landscape have not acted in a nationalistic or patriotic manner.

    Instead, they have followed their self-interest and exploited the Nigerian state for personal gain.

    As a result, the economy remains undiversified, with a small and declining manufacturing sector, thereby missing out on the potential for job creation.

    Successive administrations in the last 26 years have allocated less funding to the education sector than the 26% of the national budget recommended by Unesco.

    The political elite have not built an economy that will create decent jobs for the youth. Also, they have fostered an education system that produces graduates who do not have the skills to start enterprises.

    Most young Nigerians are engaged in the informal sector, with its associated problems: unstable jobs, hazardous working conditions, and a lack of decent wages. Most youths are underemployed and in low value-added economic activities. This means Nigeria is missing out on the potential benefits of its youthful population.

    About 70% of Nigeria’s population of over 200 million are under 30 years old, and 41% are younger than 15.

    Political leaders have failed to create an environment that allows them to achieve their full potential.

    In Nigeria, the issue is not the lack of individuals focused on development. These people exist across all segments of the Nigerian society, including government. The real problem is that they haven’t formed a coalition.

    As a result, they cannot act collectively and cohesively to invest in Nigeria’s greatest asset: its people; and to promote industrialisation.

    Now is the time to form the developmentalist coalition to change the governance and development trajectory of the country.




    Read more:
    Is Nigeria in danger of a coup? What the country should do to avoid one – political analyst


    What to do

    In Nigeria, a broad-based coalition of developmentalist elites needs to be led by individuals with a clear vision for development and national cohesion.

    Members of this coalition could establish a political party to contest elections, gain political power, and use their positions in government to develop the nation.

    Party members must be disciplined and subordinate their personal ambitions to those of the party and the national interests. The party must not become an empire of powerful individuals: instead, its organs must be allowed to function.

    Establishing this coalition is the way to end Nigeria’s endemic corruption and build a robust manufacturing sector and a thriving digital economy.

    It also needs to promote agro-allied industry, investment in infrastructure, job creation and poverty reduction.

    This coalition should aim to transform Nigeria’s democracy into a system where political parties and elected representatives genuinely serve the people.

    Omano Edigheji receives funding from organisation

    Research Grant from The Ford Foundation

    ref. Rescuing Nigeria: how to break the cycle of decline and bring progress – https://theconversation.com/rescuing-nigeria-how-to-break-the-cycle-of-decline-and-bring-progress-251639

    MIL OSI – Global Reports

  • MIL-OSI: Green Rain Solar Partners with ChargeTronix for EV Expansion

    Source: GlobeNewswire (MIL-OSI)

    Key Overview:

    • Green Rain Solar Partners with ChargeTronix for EV Charging Expansion
      Green Rain Solar, a subsidiary of The Now Corporation (OTC: NWPN), has secured a reseller agreement with ChargeTronix to distribute state-of-the-art EV charging stations across North America, advancing sustainable energy solutions.
    • Strategic Growth in Hospitality: EV Charging at Hilton Locations
      Green Rain Solar has identified 13 Hilton locations for EV charging installations, supporting Hilton’s sustainability initiatives while expanding its presence in the hospitality sector and urban EV infrastructure.
    • White-Label EV Charging Solutions for Businesses
      The partnership allows Green Rain Solar to offer white-labeled EV charging stations, enabling businesses to integrate branded, clean energy solutions that drive EV adoption and sustainable growth.

    PASADENA, Calif., March 17, 2025 (GLOBE NEWSWIRE) — The Now Corporation’s (OTC: NWPN) wholly-owned subsidiary, Green Rain Solar Inc., has entered into a reseller agreement with ChargeTronix, Inc., a leading manufacturer and distributor of electric vehicle supply equipment (EVSE). This partnership positions Green Rain Solar to accelerate its impact in the renewable energy and electric vehicle (EV) sectors by providing advanced EV charging solutions under its white-label branding.

    This agreement allows Green Rain Solar to resell ChargeTronix’s state-of-the-art EV charging stations across North America. Through this collaboration, Green Rain Solar strengthens its commitment to sustainable energy solutions, contributing to the growing adoption of EVs while enhancing the EV infrastructure in urban markets.

    As part of this partnership, Green Rain Solar has already identified 13 Hilton locations as ideal candidates for EV charging station installations, further expanding its presence in the hospitality sector. These installations will play a key role in supporting Hilton’s sustainability initiatives and providing convenience for EV drivers.

    Alfredo Papadakis, CEO of The Now Corporation, commented: “This partnership with ChargeTronix aligns perfectly with our mission to transform urban energy infrastructure. By integrating EV charging into our renewable energy solutions, Green Rain Solar is setting a new standard for innovation and sustainability.”

    This agreement also enables Green Rain Solar to offer customized, white-labeled EV charging solutions, allowing businesses to showcase their own branding while promoting clean energy initiatives.

    With the addition of 13 new Hilton locations and the strategic capabilities offered by ChargeTronix’s advanced technology, Green Rain Solar is poised to revolutionize the EV charging landscape, further cementing its position as a leader in urban renewable energy solutions.

    About The Now Corporation (OTC: NWPN):

    The Now Corporation is a diversified holding company focused on acquiring and developing innovative technologies and sustainable solutions. Through its subsidiaries, the company is committed to driving positive change in industries such as renewable energy, electric mobility, and advanced manufacturing.

    About Green Rain Solar Inc.:

    Green Rain Solar Inc., a subsidiary of The Now Corporation, specializes in the design, installation, and maintenance of solar energy systems and EV charging infrastructure. With a focus on sustainability and innovation, Green Rain Solar is dedicated to helping businesses and communities transition to clean energy.

    For more information, visit: https://greenrainenergy.com/

    Forward-Looking Statements:

    This press release contains forward-looking statements under the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may include expectations for future events, financial results, and growth prospects, subject to risks and uncertainties. The Now Corporation undertakes no obligation to publicly update any forward-looking statements except as required by applicable laws.

    Press Contact:

    Michael Cimino
    Email: Michael@pubcopr.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bc3defb7-0439-49b8-a6f7-d19bb0176ca0

    The MIL Network

  • MIL-OSI: Ethical Web AI Launches “AI Vault,” a Groundbreaking Enterprise SaaS Solution Designed to Protect Subscribers from Various AI Threats

    Source: GlobeNewswire (MIL-OSI)

    • Company Enters $1 Billion Marketplace Projected to Double by 2029
    • Advanced Beta Version is Being Demo’d to Major Prospective Partners
    • New Patent Filing, Company Infrastructure Build-out, Expected in 2Q-25

    NEW YORK, March 17, 2025 (GLOBE NEWSWIRE) — Ethical Web AI (d/b/a Bubblr Inc.) (OTCQB: BBLR), a leader in Generative AI innovation, today announced that it has launched its groundbreaking Generative AI enterprise security product – AI VaultTM. AI Vault is a groundbreaking, generative AI-powered enterprise security software-as-a-service (SaaS) solution built upon Ethical Web AI’s growing AI intellectual property estate, including 3 US patents that have been developed over the past two years.

    As a further enhancement of this product launch, Ethical Web AI has filed a new US patent (app.no. 19055968) titled Sensitive Data Protection for Generative AI. This patent describes a key process of dynamically detecting sensitive terms in Generative AI prompts.

    As was previously outlined in its February 5 news release as the Company’s next strategic initiative, this enterprise-level SaaS product is designed to protect enterprises from emerging cyber threats posed by uncontrolled employee use of ChatGPT, DeepSeek, and their peers while ensuring clients’ sensitive information remains protected and confidential.

    Leveraging advanced generative AI, AI Vault enhances threat detection, response, and prevention with real-time redaction of the subscribers’ critical data. It has been designed specifically for AWS customers to become a seamless component of a scalable, secure Gen AI Marketplace enterprise proposition.

    Twenty-seven per cent of enterprises have banned generative AI applications such as ChatGPT, according to the 2024 Cisco Data Privacy Study published in January 2025. The productivity, process optimization, and customer service benefits expected from widespread, growing commercial and enterprise AI adoption are being lost or threatened by poorly understood and inadequately managed risks.

    Analysts at The Business Research Company project the Generative AI-in-security addressable market to see exponential growth in the next few years – from $0.8 billion in 2024 to $2.04 billion in 2029 at a compound annual growth rate (CAGR) of 20.6%. Its report states, “The growth in the historical period can be attributed to the rise in cyber threats, the big data explosion, the development of generative models, new security challenges due to the vast number of connected devices, and real-time threat detection and response.”

    According to Fortune Business Insights, the broader, US generative AI market size was valued at $21.87 billion in 2023 and is projected to reach an estimated value of $220.27 billion by 2032, “driven by technological advancements, increased cloud adoption, demand for automation, and significant venture capital investments.”

    Commenting on the AI Vault launch, Chief Executive Officer Tom Symonds said, “We’re thrilled to introduce a uniquely smart and feature-rich security solution for cloud-based enterprise users of generative AI. With 27 per cent of enterprises banning their employees’ use of AI, we are offering a highly cost-effective, seamlessly integrated solution that we are confident will accelerate AI adoption globally by ensuring its privacy and safety.”

    “We are privately demonstrating AI Vault in beta to highly prospective partners. Going forward, as we are approaching commercialization, we expect to publish our detailed demo program in the next few weeks,” Mr. Symonds added. “We are making solid progress building out a deliberately lean but robust corporate infrastructure to include adding a Chief Revenue Officer, publishing a new investor presentation deck, and upgrading our website content for clients and shareholders.”

    How AI Vault Works
    AI Vault serves as a secure generative AI aggregator, ensuring that third-party content providers (such as OpenAI) cannot trace the origin of user prompts. This anonymization guarantees complete confidentiality for enterprise users. Further, its Automated Redaction Engine instantly redacts sensitive terms in communications and logs, ensuring compliance and confidentiality.

    Key AI Vault Features

    • AI-Driven Threat Intelligence: Uses generative AI to analyze vast datasets and identify patterns indicative of cyber threats.
    • Real-Time Anomaly Detection: Continuously monitors network activity to detect and neutralize threats before they cause harm.
    • Adaptive Security Framework: Evolves with emerging threats, ensuring long-term protection against AI-powered cyberattacks.

    Key AI Vault Benefits

    • Bundled AI Licenses with Secure Architecture
      Unlike other solutions that require businesses to procure separate generative AI licenses, AI Vault provides cost-effective pre-integrated AI licenses as part of its turnkey package.
    • Fully Encrypted Enterprise Deployment
      AI Vault operates within a dedicated AWS environment for each client, containerizing product components — including an AWS RDS instance that stores all AI-generated prompts and responses.
    • Advanced-Data Redaction & Contextual Sensitivity Detection
      AI Vault uniquely identifies explicitly defined sensitive terms and suggests additional potentially sensitive terms through LLM-based Named Entity Recognition (NER).
    • Patent-Protected Secure Workflow
      AI Vault executes a structured, end-to-end anonymized process.
    • Multimedia Integration and Real-Time Data Handling
      AI Vault provides rapid, turnkey, effortless deployment requiring no bespoke integration into existing infrastructure.
    • Cost-Effective and Scalable
      As an aggregated AI solution, AI Vault not only enhances security but also reduces generative AI costs by 25 per cent.

    About Ethical Web AI
    Ethical Web AI is an AI-based cybersecurity technology company currently commercializing its enterprise AI VaultTM solution. Built upon its powerful IP and patent estate, it is the first in a planned suite of SaaS products to champion a private, safe, and high-value AI experience.

    AI Vault initially targets the global enterprise marketplace with innovative solutions that protect businesses from advanced threats.

    Media and investor contact – tom.symonds@ethicalweb.ai

    Safe Harbor Statement
    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management. They are subject to several uncertainties and risks that could significantly affect the Company’s current plans and expectations, future operations, and financial condition. The Company reserves the right to update or alter its forward-looking statements, whether due to new information, future events or otherwise.

    The MIL Network

  • MIL-OSI: General Laura J. Richardson Joins Siebert Financial Corp. Advisory Board

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK and MIAMI and LOS ANGELES, March 17, 2025 (GLOBE NEWSWIRE) — General (Ret.) Laura J. Richardson, former Commander of U.S. Southern Command, has joined the Siebert Financial Corp. (“Siebert”) (Nasdaq: SIEB) Advisory Board, the company announced today. A distinguished leader with nearly four decades of military service, General Richardson brings strategic expertise, operational leadership, and a deep understanding of global affairs, reinforcing Siebert’s commitment to expanding financial services for veterans, military personnel, and underserved communities.

    General Richardson’s leadership and global experience will be a tremendous asset to Siebert,” said John J. Gebbia, CEO of Siebert. “Her distinguished national security and diplomacy career aligns with our mission to deliver innovative financial solutions that empower individuals and communities. We are honored to welcome her to our Advisory Board, as we continue expanding our services across key sectors, including military and veteran affairs, international markets, and women’s financial initiatives.”

    Most recently, General Richardson served as the 32nd Commander of U.S. Southern Command (SOUTHCOM), overseeing military operations across Central America, South America, and the Caribbean. She previously led U.S. Army North (Fifth Army) and held multiple high-ranking positions, including Deputy Commanding General of U.S. Army Forces Command, Chief of Army Legislative Liaison to Congress, and Deputy Chief of Staff for Communications for Operation Enduring Freedom.

    As a trailblazer in the U.S. Army, General Richardson has commanded at every level, including leading an Assault Helicopter Battalion in combat during Operation Iraqi Freedom.

    “Muriel Siebert was a pioneer, and I am honored to join an organization that carries forward her legacy of leadership and innovation,” said General Richardson. “Financial security is a critical pillar of long-term stability for individuals, families, and communities. I look forward to working with Siebert to expand opportunities—especially for veterans, women, and those seeking financial independence in an evolving global economy. I am grateful for the opportunity to collaborate with the Gebbia family on this exciting new chapter for Siebert, and I admire their vision for growing the firm’s impact.

    General Richardson joins a prestigious Siebert Advisory Board that includes influential figures from finance, sports, and entertainment, such as international recording artist Akon, NFL Pro Brandon Marshall, Wall Street executives Mick Solimene and Steven Geskos.

    Her addition underscores Siebert’s commitment to leveraging world-class expertise to drive financial growth, foster strategic partnerships, and create meaningful solutions for its diverse client base.

    Strengthening Siebert’s Commitment to the Military and Veteran Community

    Kaj Larsen, Head of Military Investment at Siebert, emphasized the significance of General Richardson’s appointment:
    Welcoming General Richardson to Siebert is a powerful statement about our commitment to those who have served. Her leadership and firsthand understanding of the military community will help us expand financial solutions tailored for veterans, active-duty personnel, and their families. At Siebert, we recognize the unique financial needs of those who have dedicated their lives to service, and this partnership strengthens our mission to support them with the best resources available.”

    About Siebert Financial Corp.
    Siebert is a diversified financial services company and has been a member of the NYSE since 1967 when Muriel Siebert became the first woman to own a seat on the NYSE and the first to head one of its member firms.

    Siebert operates through its subsidiaries Muriel Siebert & Co., LLC, Siebert AdvisorNXT, LLC, Park Wilshire Companies, Inc., RISE Financial Services, LLC, Siebert Technologies, LLC, and StockCross Digital Solutions, Ltd, and Gebbia Media LLC. Through these entities, Siebert provides a full range of brokerage and financial advisory services, including securities brokerage, investment advisory and insurance offerings, securities lending, and corporate stock plan administration solutions, in addition to entertainment and media productions. For over 55 years, Siebert has been a company that values its clients, shareholders, and employees. More information is available at www.siebert.com.

    Cautionary Note Regarding Forward-Looking Statements
    The statements contained in this press release that are not historical facts, including statements about our beliefs and expectations, are “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements preceded by, followed by, or that include the words “may,” “could,” “would,” “should,” “believe,” “expect,” “anticipate,” “plan,” “estimate,” “target,” “project,” “intend” and similar words or expressions. In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances are forward-looking statements.

    These forward-looking statements, which reflect beliefs, objectives, and expectations as of the date hereof, are based on the best judgment of the management of Siebert. All forward-looking statements speak only as of the date on which they are made. Such forward-looking statements are subject to certain risks, uncertainties and assumptions relating to factors that could cause actual results to differ materially from those anticipated in such statements, including, without limitation, the following: economic, social and political conditions, global economic downturns resulting from extraordinary events; securities industry risks; interest rate risks; liquidity risks; credit risk with clients and counterparties; risk of liability for errors in clearing functions; systemic risk; systems failures, delays and capacity constraints; network security risks; competition; reliance on external service providers; new laws and regulations affecting Siebert’s business; net capital requirements; extensive regulation, regulatory uncertainties and legal matters; failure to maintain relationships with employees, customers, business partners or governmental entities; the inability to achieve synergies or to implement integration plans; and other consequences associated with risks and uncertainties detailed in Part I, Item 1A – Risk Factors of Siebert’s Annual Report on Form 10-K for the year ended December 31, 2023, and Siebert’s filings with the SEC.

    Siebert cautions that the foregoing list of factors is not exclusive, and new factors may emerge, or changes to the foregoing factors may occur that could impact its business. Siebert undertakes no obligation to publicly update or revise these statements, whether as a result of new information, future events, or otherwise, except to the extent required by the federal securities laws.

    Media Contact
    Deborah Kostroun, Zito Partners
    deborah@zitopartners.com
    +1 (201) 403-8185

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/041ca78e-63d1-4c62-a534-e0c9a1fa3b51

    The MIL Network

  • MIL-OSI Economics: Samsung’s SmartThings Flex Connect Expands Reach to Maximize Energy Savings and Rewards

    Source: Samsung

    SmartThings, Samsung’s global connected living platform, today announces the expansion of its Flex Connect program with Leap into PJM Interconnection LLC (PJM). Originally launched to California and New York in July 2024, the program saw rapid success, prompting Samsung to expand access to Texas in December 2024, and now to PJM in early March. This expansion to the largest wholesale electricity market in the U.S. enables more consumers to access energy-saving opportunities, reinforcing SmartThings’ commitment to providing user choice and sustainable solutions.
    With the expanded reach of Flex Connect, SmartThings users across the Mid-Atlantic and greater Chicago now have greater access to participate in demand response (DR) events that help stabilize the energy grid while lowering their energy costs. Consumers can automate their smart home devices—including thermostats, plugs, air conditioners, lights, TVs, and appliances—to participate in energy-saving initiatives effortlessly, maximizing their savings without sacrificing comfort.

    Enhancing Consumer Choice with the Largest Smart Home Ecosystem
    SmartThings offers the largest ecosystem of connected devices, giving consumers unparalleled flexibility in how they can engage with DR programs. Unlike traditional DR initiatives with limited device compatibility, Flex Connect allows a broad range of smart devices to integrate seamlessly, ensuring users can participate in a way that best suits their home setup.
    Eligible users can enroll supported devices through SmartThings Energy, a service within the SmartThings app, and select their preferred automation settings. When the grid is under stress, enrolled devices will automatically adjust energy consumption, helping consumers reduce their usage while maintaining comfort. Users who do not own supported devices can still participate by receiving energy-saving tips and taking manual actions to conserve energy.

    Transforming the Demand Response Experience
    Historically, DR programs required significant manual intervention and offered limited device compatibility. With SmartThings Energy, Samsung has unlocked whole-home DR participation by providing seamless automation, energy usage insights, and AI-powered energy management.
    Flex Connect allows users to:
    Earn Rewards – Enrolled users receive $50 in Samsung Rewards Points for participating in energy-saving events, making sustainability financially beneficial to users.
    Automate Energy Savings – SmartThings devices intelligently adjust energy use based on grid demand, efficiently saving users energy without compromising convenience.
    Customize Their Experience – Consumers have full control over which devices participate and how they respond to DR events, reinforcing SmartThings’ core mission of user empowerment.

    Empowering Consumers and Strengthening the Grid
    Grid pressures are projected to continue to intensify across the U.S., with the North American Electric Reliability Corporation projecting a 15% increase in summer peak demand and an 18% increase in winter peak demand over the next decade. With the Flex Connect program now supporting 32% of the U.S. population, according to U.S. Census data, Samsung is now a vital player in managing the increased energy demand–and at a crucial time, when energy demand is rising, supply is constrained, electricity prices are increasing for customers, and grid stability is threatened.
    “With SmartThings, we’re giving consumers the power to choose how they engage with their energy use while contributing to a more sustainable future,” said Chanwoo Park, Executive Vice President of B2B Integrated Offering Center at Samsung Electronics. “Expanding Flex Connect with Leap in the Mid-Atlantic and Chicago regions means more users can experience the benefits of automation, energy savings, and financial incentives—all while supporting a more resilient grid.”

    SmartThings remains at the forefront of innovation, creating new opportunities for consumers to participate in demand response programs effortlessly. Programs like Flex Connect are vital in managing the increased energy demand while providing financial and environmental benefits. The Flex Connect expansion marks a significant step toward a smarter, more efficient, and consumer-driven energy future.
    For more information, please visit www.smartthings.com.

    MIL OSI Economics

  • MIL-OSI Canada: Bank of Canada announces the Governor’s Award recipient of the 2025 Fellowship Program

    Source: Bank of Canada

    Governor’s Award

    Reka Juhasz
    Assistant Professor of Economics, Vancouver School of Economics
    University of British Columbia

    Professor Reka Juhasz’s primary research focus is on the effects of industrial policy and how governments can improve the efficacy of these policies to foster economic growth. As global trade shifts, understanding how industrial policy can drive costs and inflation has implications for monetary policy, one of the Bank’s core functions. More broadly, her research also considers international trade, economic history, growth and development. Dr. Juhasz is published in top economic journals and has had a meaningful impact as a mentor in her department. She is also the co-founder of The Industrial Policy Group and was awarded the Alexander Gerschenkron Prize in 2016.

    MIL OSI Canada News

  • MIL-OSI: Bread Financial Provides Performance Update for February 2025

    Source: GlobeNewswire (MIL-OSI)

    COLUMBUS, Ohio, March 17, 2025 (GLOBE NEWSWIRE) — Bread Financial® Holdings, Inc. (NYSE: BFH), a tech-forward financial services company that provides simple, personalized payment, lending, and saving solutions to millions of U.S. consumers, provided a performance update. The following tables present the Company’s net loss rate and delinquency rate for the periods indicated:

      For the
    month ended
    February 28, 2025
      For the
    month ended
    February 29, 2024
      (dollars in millions)
    End-of-period credit card and other loans $ 17,949     $ 18,391  
    Average credit card and other loans $ 18,141     $ 18,541  
    Year-over-year change in average credit card and other loans   (2 %)     (6 %)
    Net principal losses $ 120     $ 131  
    Net loss rate   8.6 %     8.9 %
      As of
    February 28, 2025
      As of
    February 29, 2024
      (dollars in millions)
    30 days + delinquencies – principal $ 1,027     $ 1,130  
    Period ended credit card and other loans – principal $ 16,506     $ 16,962  
    Delinquency rate   6.2 %     6.7 %
                   

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

    To learn more about Bread Financial, our global associates and our sustainability commitments, visit breadfinancial.com or follow us on Instagram and LinkedIn.  

    Forward-Looking Statements

    This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give our expectations or forecasts of future events and can generally be identified by the use of words such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” “project,” “plan,” “likely,” “may,” “should” or other words or phrases of similar import. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make regarding, and the guidance we give with respect to, our anticipated operating or financial results, future financial performance and outlook, future dividend declarations, and future economic conditions.

    We believe that our expectations are based on reasonable assumptions. Forward-looking statements, however, are subject to a number of risks and uncertainties that are difficult to predict and, in many cases, beyond our control. Accordingly, our actual results could differ materially from the projections, anticipated results or other expectations expressed in this release, and no assurances can be given that our expectations will prove to have been correct. Factors that could cause the outcomes to differ materially include, but are not limited to, the following: macroeconomic conditions, including market conditions, inflation, interest rates, labor market conditions, recessionary pressures or concerns over a prolonged economic slowdown, and the related impact on consumer spending behavior, payments, debt levels, savings rates and other behaviors; global political and public health events and conditions, including ongoing wars and military conflicts and natural disasters; future credit performance, including the level of future delinquency and write-off rates; the loss of, or reduction in demand from, significant brand partners or customers in the highly competitive markets in which we compete; the concentration of our business in U.S. consumer credit; inaccuracies in the models and estimates on which we rely, including the amount of our Allowance for credit losses and our credit risk management models; the inability to realize the intended benefits of acquisitions, dispositions and other strategic initiatives; our level of indebtedness and ability to access financial or capital markets; pending and future federal and state legislation, regulation, supervisory guidance, and regulatory and legal actions, including, but not limited to, those related to financial regulatory reform and consumer financial services practices, as well as any such actions with respect to late fees, interchange fees or other charges; impacts arising from or relating to the transition of our credit card processing services to third party service providers that we completed in 2022; failures or breaches in our operational or security systems, including as a result of cyberattacks, unanticipated impacts from technology modernization projects or otherwise; and any tax or other liability or adverse impacts arising out of or related to the spinoff of our former LoyaltyOne segment or the bankruptcy filings of Loyalty Ventures Inc. (LVI) and certain of its subsidiaries and subsequent litigation or other disputes. In addition, the Consumer Financial Protection Bureau (CFPB) has issued a final rule that, absent a successful legal challenge, will place significant limits on credit card late fees, which would have a significant impact on our business and results of operations for at least the short term and, depending on the effectiveness of the mitigating actions that we have taken or may in the future take in anticipation of, or in response to, the final rule, may potentially adversely impact us over the long term; we cannot provide any assurance as to the effective date of the rule, the result of any pending or future challenges or other litigation relating to the rule, or our ability to mitigate or offset the impact of the rule on our business and results of operations. The foregoing factors, along with other risks and uncertainties that could cause actual results to differ materially from those expressed or implied in forward-looking statements, are described in greater detail under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the most recently ended fiscal year, which may be updated in Item 1A of, or elsewhere in, our Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K. Our forward-looking statements speak only as of the date made, and we undertake no obligation, other than as required by applicable law, to update or revise any forward-looking statements, whether as a result of new information, subsequent events, anticipated or unanticipated circumstances or otherwise.

    Contacts

    Brian Vereb — Investor Relations 
    Brian.Vereb@breadfinancial.com 

    Susan Haugen — Investor Relations 
    Susan.Haugen@breadfinancial.com

    Rachel Stultz — Media
    Rachel.Stultz@breadfinancial.com   

    The MIL Network