NewzIntel.com

Category: housing

  • MIL-OSI New Zealand: Upgrade to tourist experience on Stewart Island

    Source: New Zealand Government

    Upgraded tourism ventures on Rakiura Stewart Island promise a world-class experience for visitors, with enhanced guided nature walks and improved facilities, says Associate Regional Development Minister Mark Patterson. 
    Mr Patterson is on Stewart Island today, joining locals to celebrate the completion of the Rakiura Oneke Southern Wilderness Experience.
    “The realisation of this project on Stewart Island is monumental. The people here have been holding this project in their hearts for many years, and it’s incredible to see the work finally completed. It’s a testament to the dedication this close-knit community has to their home,” says Mr Patterson.
    Rakiura Māori Lands Trust (RMLT) was approved for grant and loan funding from the Provincial Growth Fund, totalling $2.18 million in 2020, to support the development of tourism infrastructure. The Trust provided funding to upgrade conservation efforts at Oneke (also known as ‘The Neck’), a remote area on Stewart Island that hosts an abundance of native wildlife and incredible coastal landscapes. 
    “Thanks to the new walking track at Oneke, visitors can take guided walks to discover the area’s early history and natural wonders. There’s also a new wharf, whare and shelter facilities. This infrastructure will support tourism on Oneke well into the future.
    “Stewart Island has long been a habitat for native flora and fauna, and restoring the biodiversity of the land back to its natural state has been a priority for RMLT for many years. The new developments contribute to the continued work being done to restore the biodiversity at Oneke, with upgraded predator-proof fencing and biosecurity measures,” says Mr Patterson.

    MIL OSI New Zealand News –

  • MIL-OSI: reAlpha’s AiChat Unveils Next-Gen AI Agents

    Source: GlobeNewswire (MIL-OSI)

    DUBLIN, Ohio, March 03, 2025 (GLOBE NEWSWIRE) — reAlpha Tech Corp. (“reAlpha” or the “Company”) (Nasdaq: AIRE), a real estate technology company developing and commercializing artificial intelligence (“AI”) technologies, today announces that its subsidiary, AiChat Pte. Ltd. (“AiChat”), is launching its AI-powered digital agents (the “AI Agents”), further enhancing its intelligent customer engagement capabilities.

    Next-Generation AI Capabilities: Elevating Customer Experiences

    AiChat’s AI Agents include Voice AI and Agentic AI, both of which are designed to facilitate and further personalize the way businesses connect with their customers. For example, the AI Agents can personalize responses based on the context of previous conversations, remembering customer preferences and past interactions to deliver more relevant recommendations. reAlpha expects that these AI-powered technologies will empower brands to create more personalized, seamless, and human-like interactions across their digital platforms.

    • Voice AI: Human-Like Conversations Capabilities

    AiChat’s Voice AI enables businesses to interact with customers in natural, human-like manner and handle their complex queries in real-time. With capabilities like multi-language support, voice-cloning, real-time analytics, and integrations with automatic speech recognition, text-to-speech, and large language model technologies, AiChat believes it will deliver prompt and scalable voice interactions through Voice AI.

    • Agentic AI: The Next Step in Generative AI

    AiChat’s Agentic AI will interact with customers with autonomy, adaptability, and personalization. Unlike scripted AI, Agentic AI will be able to understand context and adapt in real time to deliver prompt, natural responses. With self-learning and multi-turn contextual awareness, businesses can scale human-like interactions while maintaining brand consistency, which we believe may also improve customer loyalty and a customer’s overall customer service satisfaction.

    Giri Devanur, Chief Executive Officer of reAlpha, said, “We are thrilled to announce this exciting new chapter for AiChat under reAlpha’s vision. With AiChat’s enhanced capabilities, including the introduction of Agentic AI and Voice AI, we are empowering businesses to unlock the true potential of customer engagement through human-centric, innovative technologies.”

    Market Growth: AI Agents on the Rise

    The global autonomous AI and autonomous agents market is witnessing rapid expansion, with the total market size expected to reach $783.27 billion by 20371. As businesses increasingly embrace digital transformation, AiChat believes it is positioning itself as a leader in next-generation AI solutions by delivering intelligent, personalized, and streamlined customer experiences for businesses worldwide.

    One example is MYDIN, one of Malaysia’s largest retail chains, which has utilized AiChat’s AI-powered solutions to enhance its customer service. Malik Murad Ali, Director of Information Technology, Digital, Human Resources, and Leap Production System at MYDIN, shared, “Since integrating AiChat’s AI solutions, we’ve seen a significant improvement in our customer service capabilities, and, as of January 2025, we have automated 74.7% of customer inquiries. The AI-powered chatbot platform has enabled us to engage with customers more authentically and efficiently, and since January 2024, we improved overall customer service satisfaction by over 7%. We look forward to continuing this journey with AiChat and exploring the next phase of its AI-driven innovations.”

    A Fresh Identity for a Bold Future

    Alongside its AI Agents, AiChat is also unveiling a refreshed brand identity that reflects its mission to shape the future of AI-powered customer engagement solutions. At the heart of this rebrand is AiChat’s new logo shown below, which blends a brain-inspired design, representing AI’s creative capabilities, with a communication symbol, representing meaningful, human-like AI interactions. This fusion embodies AiChat’s vision of creating AI that goes beyond just assisting customers and businesses, offering instead a more personalized and tailored customer engagement solution to business and allowing them to foster meaningful relationships with customers.

    Kester Poh, Chief Executive Officer of AiChat, added, “The rebranding of AiChat marks a significant step in the evolution of conversational AI, embodying our vision to redefine customer engagement. At AiChat, we are pioneering next-generation AI agents that go beyond traditional text-based chatbots to also include voice interactions. This development will enable us to deliver comprehensive, omnichannel customer experiences by integrating personalization and voice capabilities. As we continue to drive AI innovation, we are exploring new ways to make interactions even more natural and human-like, bringing us closer to a future of truly humanized AI-powered customer engagement.”

    About reAlpha Tech Corp.

    reAlpha Tech Corp. (Nasdaq: AIRE) is a real estate technology company developing an end-to-end commission-free homebuying platform. Utilizing the power of AI and an acquisition-led growth strategy, reAlpha aims to offer an affordable, streamlined experience for homebuyers. For more information, visit www.reAlpha.com.

    About AiChat Pte. Ltd.

    AiChat Pte. Ltd., a subsidiary of reAlpha, is a Singapore-based company that develops AI-powered conversational customer experience solutions. Its platform leverages artificial intelligence to provide businesses with intelligent chatbots and automation tools that improve customer interactions and operational efficiency. For more information about AiChat, visit www.aichat.com.

    Forward-Looking Statements

    The information in this press release includes “forward-looking statements”. Forward-looking statements include, among other things, statements about the announcement of AiChat’s AI Agents, Voice AI and Agentic AI; the anticipated benefits of AiChat’s AI Agents; reAlpha’s ability to anticipate the future needs of the short-term rental market; future trends in the real estate, technology and artificial intelligence industries, generally; and reAlpha’s future growth strategy and growth rate. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “could”, “might”, “plan”, “possible”, “project”, “strive”, “budget”, “forecast”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: reAlpha’s limited operating history and that reAlpha has not yet fully developed its AI-based technologies; reAlpha’s ability to commercialize its developing AI-based technologies; whether reAlpha’s technology and products, including that of its subsidiaries, will be accepted and adopted by its customers and intended users; reAlpha’s ability to integrate AiChat’s AI Agents into its existing business and the anticipated demand for AiChat’s AI Agents; reAlpha’s ability to successfully enter new geographic markets; reAlpha’s ability to obtain the necessary regulatory and legal approvals to expand into additional U.S. states and maintain, or obtain, brokerage licenses in such states; reAlpha’s ability to generate additional sales or revenue from having access to, or obtaining, additional U.S. states brokerage licenses; reAlpha’s ability to enhance its, and its subsidiaries’, loan processing efficiency by leveraging its AI-powered platform and overall resources; AiChat’s ability to improve customer satisfaction and overall operational efficiency of businesses through implementation of its services and products, including, but not limited to, its AI Agents; AiChat’s ability to maintain its brand reputation and recognition with its customers and intended customers after its re-branding; reAlpha’s ability to, through a business’ implementation of AiChat’s technologies, increase loyalty of customers users using AiChat’s technologies; AiChat’s ability to scale its technologies, including its AI Agents, for adopting businesses; reAlpha’s and AiChat’s ability to provide personalized, human-like customer service solutions through its services and offerings; the inability to maintain and strengthen reAlpha’s brand and reputation; reAlpha’s ability to scale its operational capabilities to expand into additional geographic markets; the potential loss of key employees of its acquired companies; reAlpha’s inability to accurately forecast demand for short-term rentals and AI-based real estate focused products; the inability to execute business objectives and growth strategies successfully or sustain reAlpha’s growth; the inability of reAlpha’s customers to pay for reAlpha’s services; changes in applicable laws or regulations, and the impact of the regulatory environment and complexities with compliance related to such environment; and other risks and uncertainties indicated in reAlpha’s SEC filings. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Although reAlpha believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. reAlpha’s future results, level of activity, performance or achievements may differ materially from those contemplated, expressed or implied by the forward-looking statements, and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements. For more information about the factors that could cause such differences, please refer to reAlpha’s filings with the SEC. Readers are cautioned not to put undue reliance on forward-looking statements, and reAlpha does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    Investor Relations Contact:
    Adele Carey, VP of Investor Relations
    investorrelations@realpha.com

    Media Contact:
    Fatema Bhabrawala, Director of Public Relations
    fbhabrawala@allianceadvisors.com

    ________________________
    1 https://www.researchnester.com/reports/autonomous-ai-and-autonomous-agents-market/5948

    An image accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/35c2d708-67b7-41b1-9cd1-d965f880da3e

    The MIL Network –

  • MIL-OSI: Top Producing Manager Liz Ryan Returns to Rate in the Northeast, Resumes Decade Long Run

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, March 03, 2025 (GLOBE NEWSWIRE) — Rate, a leader in fintech mortgage solutions, announces that Liz Ryan has rejoined the company as a top-producing manager in the Northeast. Ryan, a seasoned mortgage professional, brings a wealth of experience and a strong track record of success in helping loan officers grow their businesses through new technology, competitive rates, and strategic marketing strategies.

    “I left Rate in 2022 after being here for 10 years. I returned in August of 2024 and was blown away by the marketing, technology, and ease of doing loans. I can’t believe how much more is offered to loan officers at Rate,” said Ryan. “I am so happy that I made the move back. I missed the camaraderie and my Rate family.”

    Victor Ciardelli, CEO of Rate, expressed his enthusiasm for Ryan’s return. “I’m so glad Liz took my call and decided to return to the Rate family. Her leadership and experience will be invaluable as we continue to grow and support loan officers across the region.”

    Ryan is a founding member of Capital Gains BNI in Amesbury, MA, and an active member of the Amesbury Chamber of Commerce, Kiwanis, and the Newburyport Women’s League. She is also an affiliate member of the North Shore Realtor Association.

    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; No. 2 ranking in Scotsman Guide’s 2022 list of Top Retail Mortgage Lenders; 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/06386e38-2396-46ff-905c-0c14609473d0

    The MIL Network –

  • MIL-OSI USA: DOLA’s Division of Property Taxation Encourages Eligible Colorado Seniors to Take Advantage of the 2025-26 Qualified Senior Primary Residential Classification Property Tax Reduction

    Source: US State of Colorado

    The deadline is March 15 in the year the taxpayer is applying

    STATEWIDE – The Qualified Senior Primary Residential Classification program is available for tax years 2025 and 2026. This allows property owners who moved between January 1, 2020 and December 31, 2025, and lost their Senior Property Tax Exemption, or those who plan to move in 2025 and would lose the exemption, to retain the property tax reduction for their new primary residence for 2025 and 2026.

    “This is a great step in making sure Colorado’s aging population can keep more of their hard-earned money, and enjoy retirement. Our administration is committed to lowering property taxes for all Coloradans so small businesses and homeowners can thrive,” said Governor Polis.

    For those who qualify, fifty percent (50%) percent of the first $200,000 in actual value of their primary residence real property will not be taxed unless it causes the assessed value to drop below $1,000. The classification applies to owner-occupied primary residential property, including single-family or multi-family residences, condos, townhomes or duplexes.

    “At DOLA, we aim to make complicated processes simpler for all Coloradans, including seniors choosing to retire here in Colorado,” said Maria De Cambra, DOLA Executive Director. “Our staff is available to answer questions about the Qualified Senior Primary Residential Classification program to make sure eligible seniors are not losing this property tax reduction.”

    ELIGIBILITY – A property owner must have previously qualified for, and received, the Senior Property Tax Exemption as of January 1, 2020, or later. If that exemption was removed, or will be, due to a change in the owner-occupier’s primary residence, then the new primary residence may qualify for this classification for tax years 2025 and/or 2026. There is also eligibility for a surviving spouse under certain conditions, and there are no income limits for this exemption.

    Applicants must complete the Qualified Senior Primary Residence Classification application and submit it by mail, or in person, to the county assessor of the county in which the property is located by March 15. Late applications will be accepted until July 15, however late-filing applicants forfeit their right to appeal if the classification is denied.

    Applications and instructions are available on the Division of Property Taxation website or at the county assessor of the county in which the property is located.

    The property tax reduction will be reflected on the tax bill received from the county treasurer in the year following the application.

    The Qualified Senior Primary Residential Classification should not be confused with programs creating tax credits tied to income tax returns or rebates managed by the Colorado Department of Revenue.

    Colorado seniors can contact their local county assessor for questions regarding eligibility or the application. For questions about the program, contact the Department of Local Affairs (DOLA’s) Division of Property Taxation, at dola_dpt_frontdesk@state.co.us.

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    MIL OSI USA News –

  • MIL-OSI USA: New Yorkers Urged to Prepare for Ice Jam Flooding

    Source: US State of New York

    overnor Kathy Hochul today urged New Yorkers to prepare for potential flooding due to warm temperatures and rainfall, starting Tuesday night and continuing through Thursday. Temperatures will increase across the State starting Tuesday, with some places seeing close to 60 degrees. Higher-than-normal temperatures combined with up to an inch of rainfall may result in localized flooding and elevated river flows with some ice jams, especially on creeks and streams in Western and northern Central New York.

    “New York is no stranger to extreme weather and the potential danger of flooding,” Governor Hochul said. “My administration is monitoring the weather closely and will deploy resources if necessary to keep New Yorkers safe, and I encourage everyone to remain vigilant and watch the forecast closely over the next several days.”

    There is a Flood Watch in effect for Western NY, the northern Finger Lakes, northern Central NY and the Tug Hill Plateau of the North Country from Tuesday afternoon through Thursday afternoon due to snow melt, rainfall and ice movement. Ice jam flooding will be possible, especially on creeks and streams where blockages have already been reported. For a complete listing of weather alerts, visit the National Weather Service website. New Yorkers are also encouraged to sign up for emergency alerts by subscribing to NY Alert — a free service providing critical emergency information to your cell phone or computer.

    Agency Preparations

    New York State Division of Homeland Security and Emergency Services
    The Division’s Office of Emergency Management is in contact with their local counterparts and is prepared to facilitate requests for assistance. State stockpiles are staffed and ready to deploy emergency response assets and supplies as needed. The State Watch Center is monitoring statewide impacts closely. Flood safety tips can be found at www.dhses.ny.gov.

    Department of Transportation

    The State Department of Transportation is prepared to respond with more than 3,763 supervisors and operators. Department staff are actively monitoring known problem areas and are ready to take action as needed to mitigate flooding. Crews can be configured into any type of response needed, including flood response, chipper, load & haul, sewer jet, cut & toss, traffic signal, etc. DOT crews are also proactively clearing snowbanks, checking and clearing drains and culverts. All residencies in impacted locations will remain staffed with operators, supervisors and mechanics throughout the duration of the event and priority cleanup operations.

    Statewide equipment numbers are as follows:

    • 1,610 large dump trucks
    • 349 large loaders
    • 90 chippers
    • 83 wheeled and tracked excavators
    • 15 vacuum trucks with sewer jets
    • 12 tree crew bucket trucks

    The need for additional resources will be re-evaluated as conditions warrant throughout the event.

    For real-time travel information, motorists should call 511 or visit https://www.511ny.org/#:Alerts, New York State’s official traffic and travel information source.

    Thruway Authority

    The Thruway Authority has 693 operators and supervisors prepared to respond to any wind, flood, or weather-related issues across the State with small to large plow/dump trucks, medium sized excavators, large loaders, vacuum trucks, portable pumps, chainsaws, brush chippers and other equipment. In addition, Division Maintenance crews are proactively inspecting, clearing and maintaining ditches, culverts and storm drains to effectively channel storm water away from road surfaces and roadbeds to prevent flooding on the roadway.

    Variable Message Signs and social media are utilized to alert motorists of weather conditions on the Thruway. The Thruway Authority encourages motorists to download its mobile app which is available for free on iPhone and Android devices. The app provides motorists direct access to real-time traffic information, live traffic cameras and navigation assistance while on the go. Motorists can also sign up for TRANSalert e-mails and follow @ThruwayTraffic on X for the latest traffic conditions along the Thruway.

    New York State Police

    State Police have instructed all Troopers to remain vigilant and will deploy extra patrols to affected areas as needed. All four-wheel drive vehicles are in service and all specialty vehicles, including Utility Terrain Vehicles, are staged and ready for deployment.

    Department of Public Service

    New York’s utilities have about 5,500 workers available statewide to engage in damage assessment, response, repair and restoration efforts across New York State, as necessary. Agency staff will track utilities’ work throughout the event and ensure utilities shift appropriate staffing to regions that experience the greatest impact.

    New York State Department of Environmental Conservation
    DEC Emergency Management staff, Environmental Conservation Police Officers, Forest Rangers and regional staff remain on alert and continue to monitor the developing situation and weather forecasts. Working with partner agencies, DEC is prepared to coordinate resource deployment of all available assets, including first responders, to targeted areas in preparation for potential impacts due to heavy rainfall and flooding.

    Unpredictable weather and storms in the Adirondacks, Catskills and other backcountry areas, can create unexpectedly hazardous conditions. Visitors should be prepared with proper clothing and equipment for rain, snow, ice and the cold to ensure a safe outdoor experience. Trails have mixed conditions of snow, ice, slush and mud.

    Hikers are advised to temporarily avoid all high-elevation trails, as well as trails that cross rivers and streams. Hikers in the Adirondacks are encouraged to check the Adirondack Backcountry Information webpages for updates on trail conditions, seasonal road closures and general recreation information. Backcountry visitors should Hike Smart and follow proper safety guidelines. Plan trips accordingly. In an emergency, call 9-1-1. To request Forest Ranger assistance, call 1-833-NYS-RANGERS.

    With warmer temperatures expected throughout the week, DEC reminds any outdoor enthusiasts to be mindful of conditions when hiking and to use caution when venturing onto ice. While some waterways may appear frozen, DEC advises outdoor enthusiasts to review ice safety guidelines before heading out.

    Office of Parks, Recreation and Historic Preservation

    New York State Park Police and park personnel are on alert and closely monitoring weather conditions and impacts. Park visitors should visit parks.ny.gov, check the free mobile app, or call their local park office for the latest updates regarding park hours, openings and closings.

    Flood Safety Tips

    • Learn the safest route from your home or business to high, safe ground should you have to leave in a hurry.
    • Develop and practice a ‘family escape’ plan and identify a meeting place if family members become separated.
    • Make an itemized list of all valuables including furnishings, clothing and other personal property. Keep the list in a safe place and consider maintainig photo and video documentation.
    • Stockpile emergency supplies of canned food, medicine and first aid supplies and drinking water. Store drinking water in clean, closed containers.
    • Plan what to do with your pets.
    • Have a portable radio, flashlights, extra batteries and emergency cooking equipment available.
    • Keep your automobile fueled. If electric power is cut off, gasoline stations may not be able to pump fuel for several days. Have a small disaster supply kit in the trunk of your car.
    • Find out how many feet your property is above and below possible flood levels. When predicted flood levels are broadcast, you can determine if you may be flooded.
    • Keep materials like sandbags, plywood, plastic sheeting and lumber handy for emergency waterproofing.
    • Check on your insurance coverage. Homeowners’ insurance policies generally do not cover flood damages. Only flood insurance can protect your home against flood damages. You can purchase flood insurance whether or not you live in a mapped flood zone.

    For a complete list of weather terms and preparation ideas before, during and after a flood, visit the Division of Homeland Security and Emergency Services website at https://www.dhses.ny.gov/flood-safety-tips.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Tech and innovation boost for Marlborough

    Source: New Zealand Government

    A major boost to regional innovation opens in Blenheim today, supported by a $578,000 grant from the Government’s Regional Strategic Partnership Fund (RSPF), Associate Regional Development Minister Mark Patterson says.
    “The completion of Te Au Pūngao – Tech & Innovation Hub is a key regional development milestone which will provide opportunities for start-ups and existing agri-businesses, tech innovators, researchers, investors, and support agencies – they will have a place to connect and collaborate in shared workspaces, and hold start-up events, networking sessions, seminars and workshops” Mr Patterson says.
    The 500 sq metre hub in central Blenheim received $635,000 in co-funding from the Marlborough District Council. The facilities include co-working space of up to 28 hot desks, meeting rooms, video conferencing facilities and a prototyping room.
    “Marlborough is home to some of New Zealand’s most innovative minds and pioneering sectors, especially in viticulture and aquaculture,” Mr Patterson says.
    “As these industries transform to adopt AI, robotics and advanced technologies, the region is attracting more agritech and marine tech innovators who work in these spaces. 
    “The hub is crucial in supporting these sectors by providing a space where local businesses can develop solutions and realise the ever-evolving opportunities that Marlborough and New Zealand’s agribusiness sector has to offer.
    “I see strong alignment between the Government’s ‘Going for Growth’ economic plan and Te Au Pūngao – Tech & Innovation Hub, particularly through investment in the innovation, science and technology space. I look forward to seeing this new regional asset delivering high value innovation, economic growth, and well-paid jobs to Marlborough,” Mr Patterson says.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Every Bite’s deep work shifts behaviour on food waste

    Source: Zero Waste Network Aotearoa

    Every Bite has released its first annual report outlining in-depth its work, methods and outcomes in preventing food waste. What emerges are good news stories about how communities and individuals are connecting with each other and learning how to address Aotearoa NZ’s serious food waste problem.

    “A lot of us tend to underestimate how much food we actually waste, and there is a lack of public awareness of how our behaviours impact food systems and lead to environmental degradation. Whilst most people declare that wasting food feels wrong, the complexity of our food systems combined with busy lives make it challenging to see how much food we do waste and build new habits to address this,”  says Every Bite’s project manager Rachel Glaiser.

    “This is why Every Bite was developed: to build a community of people making small but practical changes that over time will see a big impact. It is a model based on the zero waste hierarchy that prioritises preventing food waste in the first place rather than reducing it once it is created.”

    The project aims to help New Zealanders make simple changes at home to waste less food.

    “The Every Bite programme runs over four weeks and can be done in person or online, making it flexible for busy households. Among other things, participants receive a toolkit to experiment with ways to prevent food waste in their homes.  The programme kick-off event brings people together and includes tips, tricks and hacks from zero waste chefs and others who have lots of experience in tackling their food waste.

    “We all need inspiration, knowledge, practical tools and support so we can try new things at home to see what works for us.  We are constantly learning how to build new habits and stay motivated to keep going on this journey.  These learnings, together with staying across the latest research in behaviour change and food waste, are helping us to continue to improve the programme for our communities.”

    “Every Bite’s first year involved four Hub partners who delivered the programme: Wastebusters (Wānaka), Sustainable Hawke’s Bay (Hastings), Environment Network Manawatū (Palmerston North), and Go Eco (Hamilton). These four Hubs brought experience, deep community connections and were strong collaborators.”

    “Every Bite is excited to now move into years two and three of the programme, where it will reach new communities, welcome new Hubs, and deliver real impact to prevent food waste in Aotearoa.”

    Notes:

    Every Bite has been developed as part of the Ministry for the Environment’s ‘National Food Waste Reduction Programme’ that aims to deliver large-scale, national-level behaviour change programmes that reduce food waste and emissions.

    The full report can be found here: https://static1.squarespace.com/static/6604ab9f601bc406c87b5ce7/t/67637e74ea92c508a72b7afa/1734573749062/Every+Bite+Year+1+Report.pdf

    MIL OSI New Zealand News –

  • MIL-OSI USA: Attorney General Bonta Files Amicus Brief in Support of Lawsuit Challenging Unlawful Removal of Gwynne Wilcox from the National Labor Relations Board

    Source: US State of California

    OAKLAND — California Attorney General Rob Bonta, as part of a coalition of 20 attorneys general, announced the filing of an amicus brief in Wilcox v. Trump in support of Gwynne Wilcox, who is challenging President Donald Trump over her unlawful removal from the National Labor Relations Board (NLRB). The brief underscores that this removal undermines the independence of federal agencies and exceeds presidential authority. President Trump’s removal of Member Wilcox not only violated the National Labor Relations Act (NLRA) but also reduced the number of Board members to two, destroying the quorum necessary for the Board to operate and ensure the enforcement of labor laws and protection of workers’ rights. In the amicus brief, the attorneys general argue that a functioning NLRB is necessary for the enforcement of labor laws across the United States and urge the U.S. District Court for the District of Columbia to allow Wilcox to continue performing her responsibilities as an NLRB member.
     
    “Workers across the country rely on the NLRB to protect their rights by preventing unfair labor practices and safeguarding their ability to unionize. However, Member Wilcox’s unlawful removal jeopardizes these rights, as NLRB is currently inoperable—leaving the field open for bad actor employers to violate the law and trample on workers’ rights,” said Attorney General Bonta. “That’s why I’m standing with my fellow attorneys general to support Gwynne Wilcox’s motion for expedited summary judgment to allow her to continue performing her responsibilities as an NLRB member.”

     
    The NLRB is an independent federal agency that enforces U.S. labor laws related to workers’ rights, union representation, and collective bargaining. It oversees union elections, ensuring that employees can freely choose whether to be represented by a union. The Board also investigates and resolves unfair labor practice charges against employers and unions, addressing issues like retaliation, unlawful firings, and refusal to bargain in good faith. The NLRB also adjudicates disputes under the NLRA and issues rulings that shape labor law policies. To protect the NLRB from political pressure by the President, NLRB board members are appointed by the President and confirmed by Congress for staggered 5-year terms. Board members do not serve at the pleasure of the President. Federal law provides that Board members can only be removed by the President “upon notice and hearing, for neglect of duty or malfeasance in office, but for no other cause.”  
     
    Last month, the President purported to dismiss Gwynne Wilcox from her position as a member of the NLRB without cause, an action unprecedented in the agency’s 90-year history. Wilcox, the first Black woman to serve on the NLRB, was set to conclude her tenure in August 2028.
     
    In the amicus brief, the attorneys general argue that the President violated the NLRA and support Wilcox’s challenge of her purported removal from the Board. With the Board currently inactive, NLRB cannot issue rules or adjudicate unfair labor practices, which creates a regulatory gap that states will have difficulty filling. This vacuum would harm workers everywhere if NLRA’s inactivity continues. In the brief, the attorneys general highlight that by removing Wilcox and incapacitating the NLRB, the Trump Administration has left American workers without the entity authorized to ensure the guaranteed ability to join a union and engage in collective bargaining, protections which workers have relied on for decades. This regulatory vacuum is deeply troubling given the importance and scale of the work done by the NLRB. In the past decade, the NLRB reviewed nearly 3,000 allegations of unfair labor practices.

    Attorney General Bonta joins the attorneys general of Arizona, Colorado, Connecticut, Delaware, the District of Columbia, Hawai’i, Illinois, Maryland, Massachusetts, Minnesota, Michigan, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, And Wisconsin in filing this amicus brief.

    A copy of the brief can be found here.

    MIL OSI USA News –

  • MIL-OSI USA: Another Historic Investment Secured Under President Trump

    US Senate News:

    Source: The White House
    Today, President Donald J. Trump joined Taiwan Semiconductor Manufacturing Company (TSMC) CEO C.C. Wei to announce a historic $100 billion investment by TSMC in its Arizona-based semiconductor chips manufacturing operation — the largest foreign direct investment in U.S. history.
    President Trump: “This $100 billion in new investment will go into building five cutting-edge fabrication facilities in the great state that we just discussed, Arizona, and will create thousands of jobs — many thousands of jobs, and they’re high-paying jobs. In total, today’s announcement brings Taiwan Semiconductor’s investment to about $165 billion.”
    TSMC CEO C.C. Wei: “It’s going to create thousands of high-paying jobs … We are going to produce many chips to support AI’s progress and to support the smartphone’s progress. I want to thank President Trump again for his support.”
    Secretary of Commerce Howard Lutnick: “President Trump has made it a fundamental objective to bring semiconductor chip manufacturing home to America … You’re seeing the power of Donald Trump’s presidency because TSMC, the greatest manufacturer of chips in the world, is coming to America with a $100 billion investment.”
    Since taking office, President Trump has secured nearly $2 trillion in U.S.-based investment — and the best is yet to come.

    MIL OSI USA News –

  • MIL-OSI Canada: Investing in cardiac care for central Albertans

    [. For those in central Alberta, the Red Deer Regional Hospital Centre plays a critical role in providing that care, which is why the $1.8-billion Red Deer Regional Hospital Centre redevelopment project includes two state-of-the-art cardiac catheterization labs.

    While the project is expected to be completed by 2031, the government recognizes the urgent need for cardiac services for the 450,000 Albertans from Red Deer and surrounding rural communities. If passed, Budget 2025 will provide $3 million in startup funding and ongoing funding to cover the operational costs for an interim cardiac catheterization lab at the Red Deer Regional Hospital Centre.

    “Every Albertan should have access to the health care services they need close to home. Albertans living in the Red Deer area have long advocated for a cardiac catheterization lab and I am pleased to support a project that we know will help save lives.”

    Adriana LaGrange, Minister of Health

    A cardiac catheterization lab is a dedicated space where specialized teams can carry out diagnostic tests that examine and evaluate heart function to aid in the diagnosis of cardiac health concerns and treatment of coronary artery disease. The lab will be equipped with specialized imaging equipment to allow for cardiac procedures primarily including ablation, angiogram and angioplasty. 

    The interim cardiac catheterization lab will be located within the existing Red Deer Regional Hospital Centre in a space currently being used as a physician’s lounge. Preliminary design plans are already in place and construction is expected to begin by fall 2025.

    The Red Deer Regional Health Foundation has committed to funding the capital cost of the project, which is expected to be about $22 million.

    In October 2024, the foundation announced the signing of a memorandum of understanding with Alberta Health Services to fast-track the opening of a cardiac catheterization lab at Red Deer Regional Hospital Centre.

    “We are incredibly grateful for the generosity of the Donald and Lacey families, whose support is bringing life-saving cardiac care closer to home for the benefit of all central Albertans. Together with all our health care partners, their commitment to advancing health care will make a lasting impact on countless lives for years to come.”

    Manon Therriault, chief executive officer, Red Deer Regional Health Foundation

    The foundation’s work is made possible by the generosity of donors, supporters and champions across the region. To support the development of the interim cardiac catheterization lab, the foundation announced a $10-million donation from the John Donald family.

    “I am pleased to support the development of cardiac services in central Alberta, something we’ve long advocated for. This initiative will provide essential care to our community and ensure that more lives are saved closer to home.”

    John Donald, Red Deer Regional Health Foundation donor

    By prioritizing the development of an interim cardiac catheterization lab, patients will have access to critical services about three years earlier than expected. The interim cardiac catheterization lab is expected to be operational in early 2027.

    “Developing this lab will allow us to treat more cardiac patients closer to home and support them in their recovery. Enhancing our cardiac services will also support our efforts to recruit and retain the talented professionals needed to care for our region’s patients.”

    Janice Stewart, chief zone officer, Alberta Health Services Central Zone

    Being able to meet the needs of the province’s rapidly growing population is a top priority for Alberta’s government.

    Quick facts

    • The $1.8-billion Red Deer Regional Hospital Centre redevelopment project will upgrade several services throughout the hospital site, including:
      • an additional patient tower
      • six new operating rooms
      • a new medical device reprocessing department
      • two new cardiac catheterization labs
      • renovations to various areas within the main building
      • a newly renovated and expanded emergency department
      • a new ambulatory clinic building to be located adjacent to the surface parkade

    Related information

    • Red Deer Regional Health Foundation

    Related news

    • Red Deer hospital contractor selected (Aug. 15, 2024)
    • Red Deer Hospital schematic designs unveiled (March 15, 2024)
    • Red Deer hospital $1.8B expansion builds for the future (Feb. 22, 2022)

    Multimedia

    • Watch the news conference

    MIL OSI Canada News –

  • MIL-OSI USA: Boozman, Warner Continue Efforts to Prevent Veteran Suicide

    US Senate News:

    Source: United States Senator for Arkansas – John Boozman
    WASHINGTON––Today, U.S. Senator John Boozman (R-AR), a senior member of the Senate Veterans’ Affairs Committee, and Senator Mark Warner (D-VA) continued their efforts to support those who have served in our nation’s military by introducing legislation to renew and expand essential funding for mental health outreach and suicide prevention in veteran communities through the Staff Sergeant Parker Gordon Fox Suicide Prevention Grant Program.
    Authored by Boozman and Warner and later signed into law as a provision of the Commander John Scott Hannon Veterans Mental Health Care Improvement Act, the Fox Grant Program has authorized $174 million since 2020 to address the veteran suicide crisis through funding community and veteran service organizations (VSOs) as well as mental health care providers across the country that provide suicide prevention services and outreach for at-risk veterans. 
    “Veterans who struggle with mental health have responded well to support provided by those they know and trust,” said Boozman. “When our former servicemembers have access to assistance within their own communities, from organizations with demonstrated ability to build strong relationships and foster hope, they are less likely to take their own lives. Reauthorizing funding for this life-saving initiative is part of the commitment we made to fulfilling what was promised to our veterans struggling to carry the invisible weight of their mental and physical sacrifice.”
    “Veterans put an enormous amount on the line to serve our nation, and we owe them the best benefits available when they come home – including robust mental health resources,” said Warner. “For the past several years, the Staff Sergeant Fox Grant Program has played an invaluable role getting organizations already doing life-saving mental health outreach more support, including many incredible organizations in Virginia. We cannot back down on our commitment to preventing suicide in veteran communities – it’s time for us to extend and expand this essential grant program.”
    The Fox Grant Program is scheduled to sunset later this year. The senators’ legislation would:
    Reauthorize the Fox Grant Program until Sept. 30, 2028, and increase the total authorized funding for the grant program from $174 million to $285 million;
    Expand the maximum potential award from $750,000 to $1.25 million;
    Direct the VA to collect additional measures and metrics on outcomes to better serve veterans; and
    Require annual briefings for VA medical personnel to improve awareness of the program and increase coordination with providers.
    The legislation has strong support from Veterans of Foreign Wars and Blue Star Families.
    “The Veterans of Foreign Wars strongly supports the bipartisan legislation introduced by Senators Warner and Boozman to reauthorize and expand the Staff Sergeant Parker Gordon Fox Suicide Prevention Grant Program. Veteran suicide remains a national crisis, and increasing the maximum grant amount while improving oversight and coordination will help ensure life-saving resources reach those in need. The VFW has long advocated for community-based solutions, and this legislation strengthens critical partnerships between the VA and local organizations working to prevent suicide. We urge Congress to swiftly pass this bill and reaffirm its commitment to those who have sacrificed for our nation,” said Joy Craig, Associate Director of Service Member Affairs with the VFW’s National Legislative Service.
    “The SSG Fox Suicide Prevention Grant Program is a lifeline for veterans and military families facing the invisible wounds of service. Blue Star Families has seen firsthand the impact of these critical resources—support that saves lives and strengthens communities. This program ensures that veterans and their loved ones get the help they need before a crisis turns tragic. We are proud to support its reauthorization and urge Congress to continue investing in solutions that honor the service and sacrifice of those who’ve given so much for our country,” said Blue Star Families CEO Kathy Roth-Douquet. 
    The program honors Parker Gordon Fox, a veteran and former sniper instructor at the U.S. Army Infantry School at Ft. Benning, Georgia. SSG Fox died by suicide on July 21, 2020, at the age of 25. Suicide is the 12th-leading cause of death for veterans, and the 2nd-leading cause for veterans under 45. Over 131,000 veterans have died by suicide since 2001, with veterans being 72 percent more likely than the civilian population to die by suicide. Since its original passage, the Fox Grant Program has worked to end this crisis by distributing hundreds of millions in funding to organizations that provide critical, frontline mental health services to veterans.
    Click here for full text of the legislation.

    MIL OSI USA News –

  • MIL-OSI USA: NEWS: Sanders Statement: Meet Donald Trump’s New Best Friend, Vladimir Putin

    US Senate News:

    Source: United States Senator for Vermont – Bernie Sanders
    WASHINGTON, March 3 – Sen. Bernie Sanders (I-Vt.) today released the following statement introducing the American people to the background and history of Russian dictator, and apparent ally of President Trump, Vladimir Putin.
    Donald Trump’s attacks on Ukrainian President Volodymyr Zelensky are a gift to Russian President Vladimir Putin. Trump is dividing the Western alliance, and undermining Ukraine’s defense against Russia’s invasion. His actions may prolong the war by convincing Putin he can manipulate Trump into a deal with concessions he couldn’t win on the battlefield.
    Trump is cozying up to Vladimir Putin – so, who is Putin?
    Putin is a former Soviet spy who spent 16 years in the KGB, where he learned how to manipulate people by playing on their egos, greed and fears. After the end of the Cold War, Putin was named head of the FSB, Russia’s post-KGB intelligence agency. In 1999, Putin was named Prime Minister, becoming president when former President Yeltsin unexpectedly resigned. Putin has ruled Russia ever since.
    At the heart of Putin’s rule are two forces: corruption and violence.
    As Russia’s new leader, Putin, who is now believed to be one of the wealthiest people on earth, consolidated power at home by reining in Russia’s powerful oligarchs. He offered them a simple deal: If they granted him absolute power and shared the spoils, he would let them steal as much as they wanted from the Russian people. The result: while the vast majority of the Russian population struggles economically, Putin and his fellow oligarchs stashed trillions of dollars in offshore tax havens. In the process, Putin crushed Russia’s brief movement toward democracy. He eliminated rivals, cracked down on freedom of speech, and strangled the free media. Political dissidents, investigative journalists, and opposition leaders started turning up dead.
    Today, 26 years after he took power, Putin is the absolute ruler of Russia. Russian elections are blatantly fraudulent, with Putin’s lackeys barely hiding their ballot-stuffing. In the last sham election, Putin won 88 percent of the “vote” against carefully screened opposition candidates.
    That is Putin’s Russia. There is no freedom of speech. Protests are violently suppressed. Tens of thousands of people are in imprisoned for speaking out against his rule. The bravest and most prominent dissidents – people like Alexei Navalny, Boris Nemtsov and Sergei Magnitsky – are murdered outright. And the billionaire oligarchs become even richer.
    That is the leader Trump defends and admires.
    But it’s not just repression at home. Putin has also engaged in four brutal wars: in Chechnya, Georgia, Syria and Ukraine (twice). In Chechnya, his forces targeted civilians and medical personnel, flattening entire cities. Against Georgia, he launched an unprovoked invasion and annexed 20 percent the country. In Syria, Russian aircraft bombed schools, hospitals and crowded markets, killing thousands of civilians to prop up the brutal dictator Bashar al-Assad. And in Ukraine, Putin has invaded twice, first in 2014 and then again in 2022.
    Right now, Russia occupies about 20 percent of Ukraine. Because of Putin’s invasion, over one million people have been killed or injured. Every single day, Russia rains down hundreds of missiles and drones on Ukrainian cities. Putin’s forces have massacred civilians and kidnapped thousands of Ukrainian children, bringing them back to Russian “re-education” camps. These atrocities led the International Criminal Court to issue an arrest warrant for Putin in 2023 as a war criminal.
    Putin has also directly attacked the United States and its allies, repeatedly hacking our computer systems, attempting to sabotage critical infrastructure, meddling in our elections and harassing our diplomats.
    That is Donald Trump’s new best friend, Vladimir Putin.
    Every American – regardless of his or her political views – should see the current reality clearly. For the first time in American history, we have a president who is prepared to turn his back on our democratic allies and democratic values to align himself with one of the world’s most brutal dictators.
    For 250 years, people all over the world have looked to the United States, the longest existing democracy on earth, as a source of inspiration. In many countries, democratic leaders have studied our Declaration of Independence and our Constitution for guidance as to how to form governments of the people, by the people, and for the people. In this difficult historical moment, we cannot let them down. More importantly, we cannot let ourselves down. We cannot turn our backs on democracy and our own history.
    We must not allow authoritarians and oligarchs to rule the world.

    MIL OSI USA News –

  • MIL-OSI Russia: IMF Executive Board Concludes 2025 Article IV Consultation with Malaysia

    Source: IMF – News in Russian

    March 3, 2025

    Washington, DC: On February 25, 2025, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Malaysia and endorsed the staff appraisal without a meeting on a lapse-of-time basis.[2]

    Malaysia’s economic performance has improved significantly in 2024. The economy grew by 5.2 percent (y/y) in the first three quarters of 2024, supported by strong private consumption, buoyant investment, improvements in external demand for electrical and electronic products, and a recovery in tourism. Labor market conditions have been strong, with the unemployment rate low at 3.2 percent in 2024Q3. Meanwhile, inflation has been stable around 2 percent, and the ringgit appreciated against the U.S. dollar by 2.6 percent in 2024.

    Current policies are focused on rebuilding fiscal buffers, augmenting growth potential, and strengthening social protection while preserving macroeconomic and financial stability. The landmark Public Finance and Fiscal Responsibility Act (FRA), enacted in 2023, aims to strengthen fiscal management and governance. Fiscal consolidation continued in 2024, with the overall fiscal deficit estimated to have declined from 5.0 percent of GDP in 2023 to the budget target of 4.3 percent of GDP in 2024, supported by subsidy reforms and strengthening of the sales and service tax. Bank Negara Malaysia (BNM) has kept the Overnight Policy Rate (OPR) unchanged at 3.0 percent since May 2023. Under the Economy MADANI Framework, the authorities have developed a set of concerted policy frameworks that focus on increasing incomes, addressing climate change, promoting digitalization, and enhancing governance.

    Executive Board Assessment

    In concluding the Article IV consultation with Malaysia, Executive Directors endorsed the staff’s appraisal as follows:

    Malaysia’s favorable economic conditions provide a window of opportunity to build macroeconomic policy buffers and accelerate structural reforms. Malaysia’s strong growth momentum is expected to be sustained in the near term, with growth projected at 4.7 percent in 2025. Inflation, which eased to 1.8 percent in 2024, is projected to increase to 2.6 percent in 2025 on account of the anticipated implementation of gasoline subsidy reforms, before moderating to 2.3 percent in 2026. Malaysia’s external position in 2024 is preliminarily assessed to be stronger than the level implied by medium-term fundamentals and desirable policies.

    Risks to growth, mostly external, are tilted to the downside, while inflation risks are tilted to the upside. Downside external risks include deepening geoeconomic fragmentation, a growth slowdown in major trading partners, and intensification of geopolitical conflicts, while upside growth risks include faster implementation of investment projects. The upside risks to the inflation outlook stem from global commodity price shocks and potential wage pressures from increases in minimum wage and civil servants’ pay.

    Fiscal consolidation should continue to rebuild buffers and achieve the medium-term targets set under the FRA. Staff recommends achieving a small structural primary balance by 2027. Building on successful subsidy reforms, including for electricity and diesel, staff recommends gradually phasing out remaining fuel subsidies. Revenue mobilization efforts toward a more broad-based and efficient tax system are warranted. Reintroducing the GST could help achieve this goal. The associated impact of fiscal reforms on vulnerable households should be mitigated by well-targeted cash transfers. Staff welcomes the historic enactment of the FRA and recommends its swift and thorough implementation.

    The current neutral monetary policy stance is appropriate. Going forward, monetary policy should remain data dependent. BNM should stand ready to tighten monetary policy if upside inflation risks materialize. Maintaining exchange rate flexibility is essential.

    Financial systemic risks appear contained, and the financial sector remains sound. Banks’ capital and liquidity positions are robust. Credit growth, corporate and household balance sheets, and real estate markets do not pose systemic risks at this juncture. Continued vigilance is warranted against pockets of more highly leveraged borrowers, interlinkages between banks and non-bank financial institutions, and climate and cyber risks—although spillover risks from these areas remain contained. Given the strong growth and accommodative financial conditions, pre-emptive broadening of the macroprudential policy toolkit could be considered.

    Staff encourages swift implementation of the structural reform initiatives to enhance productivity and inclusive growth. The ongoing development of the PADU digital registry can help strengthen social safety nets and public service delivery. Investment incentives to promote high-growth and high-value industries should be well-targeted and ring-fenced. Further efforts are warranted toward Malaysia’s transition to net-zero emissions and readiness for Artificial Intelligence. Staff welcomes the authorities’ efforts to strengthen governance and the anti-corruption framework.

    Selected Economic and Financial Indicators, 2020–30

    Nominal GDP (2023): US$399.7 billion

    		      

     Population (2023): 33.4 million

    		            

    GDP per capita (2023, current prices): US$11,967

    		      

     Poverty rate (2019, national poverty line): 0.2 percent

    		        

    Unemployment rate (2023, period average):  3.4 percent

    		      

     Adult literacy rate (2019): 95.0 percent

    		          
                             

    Main domestic goods exports (share of total domestic exports, 2023): Machinery and Transport Equipment (45.6 percent), Manufactured Goods and Miscellaneous Manufactured Articles (19.0 percent), and Mineral Fuels, Lubricants etc. (16.5 percent).
                 
           
               

    Proj.
       

    2020

    2021

    2022

    2023

    2024

    2025

    2026

    2027

    2028

    2029

    2030

    1/
                             

    Real GDP (percent change)

    		  

    -5.5

    3.3

    8.9

    3.6

    5.0

    4.7

    4.4

    4.0

    4.0

    4.0

    4.0

    Total domestic demand

    		  

    -4.8

    3.8

    9.5

    4.7

    6.1

    4.7

    4.0

    3.6

    3.6

    3.6

    3.4

    Private consumption

    		  

    -3.9

    1.8

    11.3

    4.7

    5.3

    4.5

    3.9

    3.4

    3.9

    3.8

    3.7

    Public consumption

    		  

    4.1

    5.8

    5.1

    3.3

    4.3

    3.5

    2.7

    2.4

    2.3

    2.3

    2.3

    Private investment

    		  

    -11.9

    2.8

    7.2

    4.6

    12.0

    6.0

    5.1

    4.0

    4.0

    4.0

    4.0

    Public gross fixed capital formation

    		  

    -21.2

    -11.0

    5.3

    8.6

    11.2

    4.0

    2.8

    2.3

    2.1

    2.0

    2.1

    Net exports (contribution to growth, percentage points)

    		  

    -1.0

    -0.3

    -0.1

    -0.9

    -0.8

    0.2

    0.5

    0.6

    0.5

    0.6

    0.7
                             

    Output gap (in percent)

    		  

    -4.0

    -1.1

    2.5

    1.3

    1.1

    0.7

    0.4

    0.0

    0.0

    0.0

    0.0
                             

    Saving and investment (in percent of GDP)

    		                        

    Gross domestic investment

    		  

    19.7

    22.1

    23.6

    22.5

    22.5

    22.5

    22.6

    22.6

    22.5

    22.5

    22.5

    Gross national saving

    		  

    23.8

    26.0

    26.8

    24.0

    24.5

    24.7

    25.0

    25.3

    25.4

    25.5

    25.5
                             

    Fiscal sector (in percent of GDP) 2/

    		                        

    Federal government overall balance

    		  

    -6.2

    -6.4

    -5.5

    -5.0

    -4.3

    -3.8

    -3.8

    -3.8

    -3.8

    -3.8

    -3.8

    Revenue

    		  

    15.9

    15.1

    16.4

    17.3

    16.5

    16.2

    15.4

    15.1

    14.8

    14.6

    14.4

    Expenditure and net lending

    		  

    22.0

    21.5

    22.0

    22.3

    20.8

    20.0

    19.2

    18.9

    18.6

    18.4

    18.2

    Federal government non-oil primary balance

    		  

    -7.5

    -6.7

    -7.8

    -6.6

    -4.9

    -4.1

    -3.7

    -3.4

    -3.0

    -2.8

    -2.6

    Consolidated public sector overall balance 3/

    		  

    -7.3

    -8.3

    -6.0

    -5.9

    -8.4

    -6.7

    -6.8

    -6.9

    -6.8

    -6.9

    -6.9

    General government debt 3/

    		  

    67.7

    69.2

    65.5

    69.7

    69.6

    68.9

    68.7

    69.1

    69.3

    69.6

    69.8

    Of which: federal government debt

    		  

    62.0

    63.3

    60.2

    64.3

    64.4

    63.7

    63.5

    63.8

    64.1

    64.3

    64.5
                             
                             

    Inflation and unemployment (in percent)

    		                        

    CPI inflation, annual average

    		  

    -1.2

    2.5

    3.4

    2.5

    1.8

    2.6

    2.3

    2.0

    2.0

    2.0

    2.0

    CPI inflation, end of period

    		  

    -1.4

    3.2

    3.8

    1.5

    1.7

    3.8

    2.0

    2.0

    2.0

    2.0

    2.0

    CPI inflation (excluding food and energy), annual average

    		  

    1.1

    0.7

    3.0

    3.0

    1.8

    2.4

    2.2

    2.0

    2.0

    2.0

    2.0

    CPI inflation (excluding food and energy), end of period

    		  

    0.7

    1.1

    4.1

    1.9

    1.6

    3.8

    2.0

    2.0

    2.0

    2.0

    2.0

    Unemployment rate

    		  

    4.5

    4.6

    3.9

    3.4

    3.2

    3.2

    3.2

    3.2

    3.2

    3.2

    3.2
                             
                             

    Macrofinancial variables (end of period)

    		                        

    Broad money (percentage change) 4/

    		  

    4.9

    5.6

    4.0

    5.8

    7.1

    7.6

    6.7

    5.9

    5.9

    5.9

    5.9

    Credit to private sector (percentage change) 4/

    		  

    4.0

    3.8

    3.0

    5.2

    6.2

    6.1

    6.0

    5.9

    5.9

    5.9

    5.9

    Credit-to-GDP ratio (in percent) 5/ 6/

    		  

    144.8

    137.7

    122.4

    126.7

    125.7

    123.9

    123.1

    123.1

    123.1

    123.1

    123.1

    Overnight policy rate (in percent)

    		  

    1.75

    1.75

    2.75

    3.00

    …

    …

    …

    …

    …

    …

    …

    Three-month interbank rate (in percent)

    		  

    1.9

    2.0

    3.6

    3.7

    …

    …

    …

    …

    …

    …

    …

    Nonfinancial corporate sector debt (in percent of GDP) 7/

    		  

    109.7

    109.0

    97.5

    101.2

    …

    …

    …

    …

    …

    …

    …

    Nonfinancial corporate sector debt issuance (in percent of GDP)

    		  

    2.3

    2.6

    2.4

    2.5

    …

    …

    …

    …

    …

    …

    …

    Household debt (in percent of GDP) 7/

    		  

    93.1

    88.9

    80.9

    84.2

    …

    …

    …

    …

    …

    …

    …

    Household financial assets (in percent of GDP) 7/

    		  

    204.5

    191.9

    167.3

    174.3

    …

    …

    …

    …

    …

    …

    …

    House prices (percentage change)

    		  

    1.2

    1.9

    3.9

    3.8

    …

    …

    …

    …

    …

    …

    …
                             
                             

    Exchange rates (period average)

    		                        

    Malaysian ringgit/U.S. dollar

    		  

    4.19

    4.14

    4.40

    4.56

    …

    …

    …

    …

    …

    …

    …

    Real effective exchange rate (percentage change)

    		  

    -3.5

    -1.3

    -1.4

    -2.5

    …

    …

    …

    …

    …

    …

    …
                             
                             

    Balance of payments (in billions of U.S. dollars) 5/

    		                        

    Current account balance

    		  

    14.1

    14.5

    13.0

    6.2

    8.7

    10.2

    12.0

    14.3

    16.1

    17.6

    19.4

    (In percent of GDP)

    		  

    4.2

    3.9

    3.2

    1.5

    2.0

    2.2

    2.4

    2.7

    2.9

    3.0

    3.1

    Goods balance

    		  

    32.7

    42.9

    42.6

    29.9

    26.3

    29.3

    31.8

    33.9

    36.5

    39.2

    43.7

    Services balance

    		  

    -11.2

    -15.8

    -13.2

    -9.5

    -4.4

    -4.1

    -3.1

    -1.7

    -1.3

    -1.0

    -1.5

    Income balance

    		  

    -7.4

    -12.5

    -16.3

    -14.2

    -13.2

    -14.9

    -16.7

    -17.9

    -19.2

    -20.6

    -22.8

    Capital and financial account balance

    		  

    -18.5

    3.8

    1.8

    -3.4

    -6.0

    0.2

    -3.0

    -5.0

    -6.2

    -7.1

    -8.2

    Of which: Direct investment

    		  

    0.7

    7.5

    2.9

    0.0

    -1.3

    2.0

    2.1

    2.2

    2.4

    2.5

    2.6

    Errors and omissions

    		  

    -0.1

    -7.3

    -2.7

    -7.2

    0.0

    0.0

    0.0

    0.0

    0.0

    0.0

    0.0

    Overall balance

    		  

    -4.6

    11.0

    12.1

    -4.5

    2.7

    10.4

    9.0

    9.3

    9.9

    10.6

    11.2
                             

    Gross official reserves (US$ billions) 5/

    		  

    107.6

    116.9

    114.7

    113.5

    116.2

    126.6

    135.6

    144.9

    154.8

    165.4

    176.6

    (In months of following year’s imports of goods and nonfactor services)

    		  

    5.5

    4.9

    5.4

    4.6

    4.4

    4.6

    4.7

    4.8

    4.9

    4.9

    5.0

    (In percent of short-term debt by original maturity)

    		  

    117.6

    120.8

    104.9

    100.3

    99.4

    98.3

    97.2

    97.0

    97.3

    97.9

    98.9

    (In percent of short-term debt by remaining maturity)

    		  

    91.9

    93.5

    84.6

    80.7

    78.7

    79.4

    79.0

    79.2

    79.7

    80.5

    81.5

    Total external debt (in billions of U.S. dollars) 5/

    		  

    238.8

    258.7

    259.6

    270.6

    284.6

    305.1

    324.4

    342.8

    361.1

    379.2

    397.2

    (In percent of GDP)

    		  

    70.8

    69.3

    63.8

    67.8

    65.1

    65.3

    65.1

    64.9

    64.4

    63.8

    63.0

    Of which: short-term (in percent of total, original maturity)

    		  

    38.3

    37.4

    42.1

    41.8

    41.1

    42.2

    43.0

    43.6

    44.1

    44.6

    44.9

      short-term (in percent of total, remaining maturity)

    		  

    49.1

    48.3

    52.2

    51.9

    51.9

    52.3

    52.9

    53.4

    53.8

    54.2

    54.5

    Debt service ratio 5/

    		                        

    (In percent of exports of goods and services) 8/

    		  

    13.6

    10.5

    9.7

    11.8

    12.1

    12.1

    10.1

    9.8

    9.7

    9.6

    9.5

    (In percent of exports of goods and nonfactor services)

    		  

    14.4

    11.4

    10.3

    12.7

    12.9

    12.9

    10.7

    10.4

    10.3

    10.2

    10.0
                             
                             

    Memorandum items:

    		                        

    Nominal GDP (in billions of ringgit)

    		  

    1,418

    1,549

    1,794

    1,823

    1,952

    2,099

    2,241

    2,373

    2,512

    2,660

    2,817
                             

    Sources: Data provided by the authorities; CEIC Data; World Bank; UNESCO; and IMF, Integrated Monetary Database, and staff estimates.
                             

    1/ Data used in this report for staff analyses are as of January 29, 2025, unless otherwise noted.
    2/ Cash basis.
    3/ Consolidated public sector includes general government and nonfinancial public enterprises (NFPEs). General government includes federal government, state and local governments, and statutory bodies.
    4/ Based on data provided by the authorities, but follows compilation methodology used in IMF’s Integrated Monetary Database. Credit to private sector in 2018 onwards includes data for a newly licensed commercial bank from April 2018. The impact of this bank is excluded in the calculation of credit gap.
    5/ IMF staff estimates. U.S. dollar values are estimated using official data published in national currency.                                                                                                                         
    6/ Based on a broader measure of liquidity. Credit gap is estimated on quarterly data from 2000, using one-sided Hodrick-Prescott filter with a large parameter.
    7/ Revisions in historical data reflect the change in base year for nominal GDP (from 2010=100 to 2015=100).
    8/ Includes receipts under the primary income account.
                               

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

    [2] The Executive Board takes decisions under its lapse-of-time procedure when the Board agrees that a proposal can be considered without convening formal discussions.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pavis Devahasadin

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/03/02/pr25050-malaysia-imf-executive-board-concludes-2025-article-iv-consultation

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI New Zealand: ChildFund – Urgent Support for Ukrainian Children in 2025

    Source: ChildFund New Zealand

    Uncertainty about the next stage in the war in Ukraine is putting increased pressure on Ukrainian children who have already put up with three years of war.
    “Our ChildFund partners based all through Ukraine and in Moldova are continuing the roll out of our 2025 programme of support. No matter what the outcome of negotiations, it is clear this war will not end any time soon. The support must continue,” says Josie Pagani CEO of ChildFund New Zealand.
    12.7 million people, including 2 million children, are in need of urgent humanitarian support now.
    Children are the most affected. The impact of the war on children’s emotional and psychological well-being and their motivation to learn has contributed to a decline in learning, while psychological distress has contributed to non-attendance.
    In 2025 we plan to do the following:
    • Provide more child and adolescent friendly spaces to help children cope with war-related losses and trauma
    • Provide mental health and psychological support to displaced people and local communities, with a particular focus on women and children
    • Run awareness campaigns on the dangers of mines and explosive remnants of war, as well as strategies and techniques to avoid accidents
    • Build bomb shelters to ensure the safety of students and school staff in education facilities
    • Distribute winter emergency aid, including solid fuel, and clean water
    • Provide cash-for-shelter repairs, to fix damaged homes
    • Provide hygiene kits to young people and their families
    • Rehabilitate heating systems, water supply and waste-water systems in healthcare facilities.
    “In the last three years our ChildFund partners have reached 502,264 beneficiaries, including 204,396 women and girls, and 97,340 children.
    The plan in 2025 is to reach about 80,000 additional beneficiaries, including 32,000 children. It is clear the war will not end tomorrow. The bombs are still dropping, and Ukrainian children need our support.

    MIL OSI New Zealand News –

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

    Source: Office of United States Attorneys

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

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

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

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

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

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

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

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

    MIL Security OSI –

  • MIL-OSI Security: Felon Sentenced To 26 Years In Prison For Armed Robberies And Assault Of Federal Officer

    Source: Office of United States Attorneys

    LAS VEGAS – A Las Vegas man who has prior felony convictions was sentenced today in two separate cases to a total of 26 years in prison to be followed by three years of supervised release. He admitted to committing armed robberies of two jewelry stores and assaulting a detention officer while in custody.

    According to court documents, on December 12, 2016, Wyatt Scott Peterson (42) entered EZ Pawn in Las Vegas and demanded the keys to the jewelry case. During the course of the robbery, he brandished a 9mm semi-automatic handgun to intimidate employees into not resisting and complying with his demands. The firearm was discharged into a display case during the robbery. Peterson stole at least $40,000 and left the store. Then, on December 21, 2016, Peterson entered Super Pawn in Las Vegas and demanded the keys to the jewelry case. He stole 29 rings, three pairs of earrings, and five bracelets combined worth more than $20,000 before he left the store.

    Peterson has prior felony convictions including identity theft in Colville, Washington; Possession of a controlled substance with intent to deliver in Spoke, Washington; and Attempt carrying concealed firearm or other deadly weapon in Clark County, Nevada. He is prohibited by law from possessing a firearm.

    In December 2016, Peterson was charged and detained pending trial for the armed robbery case. He was housed at Nevada Southern Detention Center in Pahrump, Nevada. While in custody, he confronted a detention officer at the stairwell and began punching the detention officer.

    Peterson pleaded guilty to one count each of commerce by robbery, possessing a firearm during and in relation to a crime of violence, felon in possession of a firearm, and assault on a federal officer.

    Acting United States Attorney Sue Fahami for the District of Nevada and Special Agent in Charge Spencer L. Evans for the FBI Las Vegas Division made the announcement.

    The case was investigated by the FBI and Las Vegas Metropolitan Police Department. Assistant United States Attorney Jim Fang prosecuted the cases.

    ###

     

    MIL Security OSI –

  • MIL-OSI Security: Attorney General Pamela Bondi appoints Michael DiGiacomo as U.S. Attorney

    Source: Office of United States Attorneys

    BUFFALO, N.Y.-Michael DiGiacomo was appointed as the U.S. Attorney for the Western District of New York by Attorney General Pamela Bondi on February 28, 2025. Mr. DiGiacomo was sworn in today, March 3, 2025, by U.S. District Judge Lawrence J. Vilardo. He will serve as the U.S. Attorney for 120 days or until a Presidential nominee has been confirmed by the United States Senate.

    Mr. DiGiacomo has been an Assistant U.S. Attorney since 2002. He began in the Narcotics and Violent Crimes Division, where he prosecuted multi-defendant narcotics traffickers. Mr. DiGiacomo then moved to the White Collar and General Crimes Division, where he served as Chief for 10 years, supervising 12 attorneys and a deputy chief. Mr. DiGiacomo’s White Collar prosecutions included child exploitation, defense procurement fraud, intellectual property violations, health care fraud, international parental kidnapping and immigration offenses. In addition, Mr. DiGiacomo serves as the computer hacking and intellectual property coordinator for the Western District of New York.

    Prior to joining the U.S. Attorney’s Office, Mr. DiGiacomo was an attorney in private practice in Buffalo, NY.

    Mr. DiGiacomo stated, “Having served as an Assistant U.S. Attorney in this office for the past 23 years, I am both honored and humbled to be chosen to serve as United States Attorney.”

    # # # #

    MIL Security OSI –

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

    Source: GlobeNewswire (MIL-OSI)

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

    Fourth Quarter 2024 Financial Highlights

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

    Full Year 2024 Financial Highlights

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

    Operational Highlights

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

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

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

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

    Business Outlook

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

    Share Repurchase Program

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

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

    Conference Call

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

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

    About GigaCloud Technology Inc

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

    Non-GAAP Financial Measures

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

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

    Forward-Looking Statements

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

    For investor and media inquiries, please contact:

    GigaCloud Technology Inc

    Investor Relations

    Email: ir@gigacloudtech.com

    PondelWilkinson, Inc.

    Laurie Berman (Investors) – lberman@pondel.com

    George Medici (Media) – gmedici@pondel.com

     
    GigaCloud Technology Inc
    UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
    (In thousands except for share data and per share data)
         
        December 31,
        2024   2023
    ASSETS        
    Current assets        
    Cash and cash equivalents   $ 259,759     $ 183,283  
    Restricted cash     685       885  
    Investments     42,674       —  
    Accounts receivable, net     57,313       58,876  
    Inventories     172,489       132,247  
    Prepayments and other current assets     14,672       17,516  
    Total current assets     547,592       392,807  
    Non-current assets        
    Operating lease right-of-use assets     451,930       398,922  
    Property and equipment, net     29,498       24,614  
    Intangible assets, net     6,198       8,367  
    Goodwill     12,586       12,586  
    Deferred tax assets     10,026       1,440  
    Other non-current assets     12,645       8,173  
    Total non-current assets     522,883       454,102  
    Total assets   $ 1,070,475     $ 846,909  
             
             
             
        2024   2023
    LIABILITIES AND SHAREHOLDERS’ EQUITY        
    Current liabilities        
    Accounts payable (including accounts payable of VIEs without recourse to the Company of $nil and $11,563 as of December 31, 2024 and 2023, respectively)   $ 78,163     $ 69,757  
    Contract liabilities (including contract liabilities of VIEs without recourse to the Company of $nil and $736 as of December 31, 2024 and 2023, respectively)     4,486       5,537  
    Current operating lease liabilities (including current operating lease liabilities of VIEs without recourse to the Company of $nil and $1,305 as of December 31, 2024 and 2023, respectively)     88,521       57,949  
    Income tax payable (including income tax payable of VIEs without recourse to the Company of $nil and $3,644 as of December 31, 2024 and 2023, respectively)     13,615       15,212  
    Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of VIEs without recourse to the Company of $nil and $2,774 as of December 31, 2024 and 2023, respectively)     79,594       57,319  
    Total current liabilities     264,379       205,774  
    Non-current liabilities        
    Operating lease liabilities, non-current (including operating lease liabilities, non-current of VIEs without recourse to the Company of $nil and $553 as of December 31, 2024 and 2023, respectively)     395,235       343,511  
    Deferred tax liabilities     941       3,795  
    Finance lease obligations, non-current     382       111  
    Non-current income tax payable     4,321       3,302  
    Total non-current liabilities     400,879       350,719  
    Total liabilities   $ 665,258     $ 556,493  
    Commitments and contingencies        
             
             
             
        2024   2023
    Shareholders’ equity        
    Treasury shares, at cost (609,390 and 294,029 shares held as of December 31, 2024 and 2023, respectively)   $ (11,816 )   $ (1,594 )
    Class A ordinary shares ($0.05 par value, 50,673,268 shares authorized, 32,878,735 and 31,738,632 shares issued as of December 31, 2024 and 2023, respectively, 32,269,345 and 31,455,148 shares outstanding as of December 31, 2024 and 2023, respectively)     1,643       1,584  
    Class B ordinary shares ($0.05 par value, 9,326,732 shares authorized, 8,076,732 and 9,326,732 shares issued and outstanding as of December 31, 2024 and 2023)     403       466  
    Additional paid-in capital     120,262       111,736  
    Accumulated other comprehensive income (loss)     (4,136 )     526  
    Retained earnings     298,861       177,698  
    Total shareholders’ equity     405,217       290,416  
    Total liabilities and shareholders’ equity   $ 1,070,475     $ 846,909  
             
     
    GigaCloud Technology Inc
    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
    (In thousands except for share data and per share data)
           
      Three Months Ended
    December 31,    		   Year Ended
    December 31,
      2024   2023   2024   2023
    Revenues              
    Service revenues $ 97,107     $ 69,336     $ 350,273     $ 199,184  
    Product revenues   198,675       175,401       810,769       504,647  
    Total revenues   295,782       244,737       1,161,042       703,831  
    Cost of revenues              
    Services   78,188       57,291       284,951       161,215  
    Product sales   152,604       117,609       590,855       353,983  
    Total cost of revenues   230,792       174,900       875,806       515,198  
    Gross profit   64,990       69,837       285,236       188,633  
    Operating expenses              
    Selling and marketing expenses   18,041       14,004       70,686       41,386  
    General and administrative expenses   16,979       13,130       73,944       30,008  
    Research and development expenses   2,356       2,344       9,791       3,925  
    Gains (losses) on disposal of property and equipment   (20 )     3,236       193       3,236  
    Total operating expenses   37,356       32,714       154,614       78,555  
    Operating income   27,634       37,123       130,622       110,078  
    Interest expense   (29 )     (108 )     (256 )     (1,240 )
    Interest income   2,849       1,293       9,405       3,304  
    Foreign currency exchange gains (losses), net   (754 )     4,239       (1,233 )     2,086  
    Government grants   8       438       37       911  
    Others, net   678       (137 )     2,039       (144 )
    Income before income taxes   30,386       42,848       140,614       114,995  
    Income tax expense   573       (7,273 )     (14,806 )     (20,887 )
    Net income $ 30,959     $ 35,575     $ 125,808     $ 94,108  
    Net income attributable to ordinary shareholders   30,959       35,575       125,808       94,108  
    Foreign currency translation adjustment, net of nil income taxes   (715 )     232       (1,266 )     (278 )
    Net unrealized gains (losses) on available-for-sale investments   (12 )     —       7       —  
    Intra-entity foreign currency transactions gain (loss)   (2,565 )     —       (2,565 )     —  
    Release of foreign currency translation reserve related to liquidation of subsidiaries   (838 )     —       (838 )     —  
    Total other comprehensive income (loss)   (4,130 )     232       (4,662 )     (278 )
    Comprehensive Income $ 26,829     $ 35,807     $ 121,146     $ 93,830  
    Net income per ordinary share              
    —Basic $ 0.76     $ 0.87     $ 3.06     $ 2.31  
    —Diluted $ 0.76     $ 0.87     $ 3.05     $ 2.30  
    Weighted average number of ordinary shares outstanding used in computing net income per ordinary share              
    —Basic   40,869,106       40,770,882       41,079,672       40,788,448  
    —Diluted   40,944,311       40,901,772       41,201,026       40,922,590  
                                   
     
    GigaCloud Technology Inc
    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (In thousands)
       
      Year Ended
    December 31,
      2024   2023
    Cash flows from operating activities:      
    Net income $ 125,808     $ 94,108  
    Adjustments to reconcile net income to net cash provided by operating activities:      
    Depreciation and amortization   8,524       2,873  
    Share-based compensation   16,825       2,503  
    Operating lease   29,282       2,485  
    Changes in accounts receivables, net   (234 )     (5,058 )
    Changes in inventories   (46,875 )     (16,514 )
    Changes in prepayments and other assets   (1,665 )     (9,249 )
    Changes in accounts payable, accrued expenses and other current liabilities   38,188       46,258  
    Changes in contract liabilities   (992 )     1,473  
    Changes in income tax payable   (1,023 )     10,977  
    Changes in deferred income taxes   (11,462 )     398  
    Other operating activities   1,702       3,198  
    Net cash provided by operating activities   158,078       133,452  
    Cash flows from investing activities:      
    Cash paid for purchase of property and equipment   (15,536 )     (4,380 )
    Cash received from disposal of property and equipment   2,103       462  
    Acquisitions, net of cash acquired   —       (86,629 )
    Purchases of investments   (73,831 )     —  
    Sale and maturities of investments   31,845       —  
    Net cash used in investing activities   (55,419 )     (90,547 )
    Cash flows from financing activities:      
    Repayment of finance lease obligations   (1,726 )     (2,212 )
    Repayment of bank loans   —       (197 )
    Repurchases of ordinary shares   (23,243 )     (1,594 )
    Net cash used in financing activities   (24,969 )     (4,003 )
    Effect of foreign currency exchange rate changes on cash and restricted cash   (1,414 )     190  
    Net increase in cash and restricted cash   76,276       39,092  
    Cash and restricted cash at the beginning of the year   184,168       145,076  
    Cash and restricted cash at the end of the year $ 260,444     $ 184,168  
    Supplemental disclosure of cash flow information      
    Cash paid for interest expense   256       1,240  
    Cash paid for income taxes   26,301       9,512  
    Non-cash investing and financing activities:      
    Purchase of property and equipment under finance leases   767       —  
    Reversal of subscription receivable from ordinary shares   —       312  
    Fair value of assets acquired by acquisition   —       273,086  
    Cash paid for business combinations and asset purchases   —       87,568  
    Liabilities assumed by acquisition   —       (185,518 )
                   
     
    GigaCloud Technology Inc
    UNAUDITED RECONCILIATION OF ADJUSTED EBITDA
    (In thousands, except for per share data)
           
      Three Months Ended
    December 31,    		   Year Ended
    December 31,
      2024   2023   2024   2023
      (In thousands)
    Net income $ 30,959     $ 35,575     $ 125,808     $ 94,108  
    Add: Income tax expense   (573 )     7,273       14,806       20,887  
    Add: Interest expense   29       108       256       1,240  
    Less: Interest income   (2,849 )     (1,293 )     (9,405 )     (3,304 )
    Add: Depreciation and amortization   2,271       1,723       8,524       2,873  
    Add: Share-based compensation expense   1,245       429       16,825       2,503  
    Add: Non-recurring items(1)   (180 )     —       128       —  
    Adjusted EBITDA $ 30,902     $ 43,815     $ 156,942     $ 118,307  

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

     
    UNAUDITED RECONCILIATION OF ADJUSTED EPS – DILUTED
           
      Three Months Ended
    December 31,    		   Year Ended
    December 31,
      2024   2023   2024   2023
    Net income per ordinary share – diluted $ 0.76     $ 0.87     $ 3.05     $ 2.30  
    Adjustments, per ordinary share:              
    Add: Income tax expense   (0.01 )     0.18       0.36       0.51  
    Add: Interest expense   —       —       0.01       0.03  
    Less: Interest income   (0.07 )     (0.03 )     (0.23 )     (0.08 )
    Add: Depreciation and amortization   0.05       0.04       0.21       0.07  
    Add: Share-based compensation expenses   0.02       0.01       0.41       0.06  
    Add: Non-recurring items(1)   —       —       —       —  
    Adjusted EPS – diluted $ 0.75     $ 1.07     $ 3.81     $ 2.89  
                   
    Weighted average number of ordinary shares outstanding – diluted   40,944,311       40,901,772       41,201,026       40,922,590  

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

    _____________________

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

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

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

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

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

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

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

    The MIL Network –

  • MIL-OSI: Rigetti Computing to Participate in Fireside Chat at Cantor Global Technology Conference

    Source: GlobeNewswire (MIL-OSI)

    BERKELEY, Calif., March 03, 2025 (GLOBE NEWSWIRE) — Rigetti Computing, Inc. (Nasdaq: RGTI) (“Rigetti” or the “Company”), a pioneer in full-stack quantum-classical computing, announced today that Rigetti CEO, Dr. Subodh Kulkarni, will be participating in a fireside chat at the Cantor Global Technology Conference on March 12, 2025.

    Information for the event is as follows:

    Webcast registration link: https://sqps.onstreamsecure.com/origin/enliven/players/EnlivenPlayer.html?customerId=22&eventId=59290576&checkCompany=1&checkEmail=1&checkName=1
    Presentation date: Wednesday, March 12, 2025
    Time: 8:40 AM – 9:15 AM ET

    Investors can view a live webcast of the event by visiting the “Events” section of Rigetti’s Investor Relations website at https://investors.rigetti.com. A replay will be available at the same location for 180 days following the conclusion of the event.

    About Rigetti
    Rigetti is a pioneer in full-stack quantum computing. The Company has operated quantum computers over the cloud since 2017 and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform. In 2021, Rigetti began selling on-premises quantum computing systems with qubit counts between 24 and 84 qubits, supporting national laboratories and quantum computing centers. Rigetti’s 9-qubit Novera™ QPU was introduced in 2023 supporting a broader R&D community with a high-performance, on-premises QPU designed to plug into a customer’s existing cryogenic and control systems. The Company’s proprietary quantum-classical infrastructure provides high-performance integration with public and private clouds for practical quantum computing. Rigetti has developed the industry’s first multi-chip quantum processor for scalable quantum computing systems. The Company designs and manufactures its chips in-house at Fab-1, the industry’s first dedicated and integrated quantum device manufacturing facility. Learn more at www.rigetti.com.

    Rigetti Computing Media Contact:
    press@rigetti.com

    The MIL Network –

  • MIL-OSI Economics: IMF Executive Board Concludes 2025 Article IV Consultation with Malaysia

    Source: International Monetary Fund

    March 3, 2025

    Washington, DC: On February 25, 2025, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Malaysia and endorsed the staff appraisal without a meeting on a lapse-of-time basis.[2]

    Malaysia’s economic performance has improved significantly in 2024. The economy grew by 5.2 percent (y/y) in the first three quarters of 2024, supported by strong private consumption, buoyant investment, improvements in external demand for electrical and electronic products, and a recovery in tourism. Labor market conditions have been strong, with the unemployment rate low at 3.2 percent in 2024Q3. Meanwhile, inflation has been stable around 2 percent, and the ringgit appreciated against the U.S. dollar by 2.6 percent in 2024.

    Current policies are focused on rebuilding fiscal buffers, augmenting growth potential, and strengthening social protection while preserving macroeconomic and financial stability. The landmark Public Finance and Fiscal Responsibility Act (FRA), enacted in 2023, aims to strengthen fiscal management and governance. Fiscal consolidation continued in 2024, with the overall fiscal deficit estimated to have declined from 5.0 percent of GDP in 2023 to the budget target of 4.3 percent of GDP in 2024, supported by subsidy reforms and strengthening of the sales and service tax. Bank Negara Malaysia (BNM) has kept the Overnight Policy Rate (OPR) unchanged at 3.0 percent since May 2023. Under the Economy MADANI Framework, the authorities have developed a set of concerted policy frameworks that focus on increasing incomes, addressing climate change, promoting digitalization, and enhancing governance.

    Executive Board Assessment

    In concluding the Article IV consultation with Malaysia, Executive Directors endorsed the staff’s appraisal as follows:

    Malaysia’s favorable economic conditions provide a window of opportunity to build macroeconomic policy buffers and accelerate structural reforms. Malaysia’s strong growth momentum is expected to be sustained in the near term, with growth projected at 4.7 percent in 2025. Inflation, which eased to 1.8 percent in 2024, is projected to increase to 2.6 percent in 2025 on account of the anticipated implementation of gasoline subsidy reforms, before moderating to 2.3 percent in 2026. Malaysia’s external position in 2024 is preliminarily assessed to be stronger than the level implied by medium-term fundamentals and desirable policies.

    Risks to growth, mostly external, are tilted to the downside, while inflation risks are tilted to the upside. Downside external risks include deepening geoeconomic fragmentation, a growth slowdown in major trading partners, and intensification of geopolitical conflicts, while upside growth risks include faster implementation of investment projects. The upside risks to the inflation outlook stem from global commodity price shocks and potential wage pressures from increases in minimum wage and civil servants’ pay.

    Fiscal consolidation should continue to rebuild buffers and achieve the medium-term targets set under the FRA. Staff recommends achieving a small structural primary balance by 2027. Building on successful subsidy reforms, including for electricity and diesel, staff recommends gradually phasing out remaining fuel subsidies. Revenue mobilization efforts toward a more broad-based and efficient tax system are warranted. Reintroducing the GST could help achieve this goal. The associated impact of fiscal reforms on vulnerable households should be mitigated by well-targeted cash transfers. Staff welcomes the historic enactment of the FRA and recommends its swift and thorough implementation.

    The current neutral monetary policy stance is appropriate. Going forward, monetary policy should remain data dependent. BNM should stand ready to tighten monetary policy if upside inflation risks materialize. Maintaining exchange rate flexibility is essential.

    Financial systemic risks appear contained, and the financial sector remains sound. Banks’ capital and liquidity positions are robust. Credit growth, corporate and household balance sheets, and real estate markets do not pose systemic risks at this juncture. Continued vigilance is warranted against pockets of more highly leveraged borrowers, interlinkages between banks and non-bank financial institutions, and climate and cyber risks—although spillover risks from these areas remain contained. Given the strong growth and accommodative financial conditions, pre-emptive broadening of the macroprudential policy toolkit could be considered.

    Staff encourages swift implementation of the structural reform initiatives to enhance productivity and inclusive growth. The ongoing development of the PADU digital registry can help strengthen social safety nets and public service delivery. Investment incentives to promote high-growth and high-value industries should be well-targeted and ring-fenced. Further efforts are warranted toward Malaysia’s transition to net-zero emissions and readiness for Artificial Intelligence. Staff welcomes the authorities’ efforts to strengthen governance and the anti-corruption framework.

    Selected Economic and Financial Indicators, 2020–30

    Nominal GDP (2023): US$399.7 billion

    		      

     Population (2023): 33.4 million

    		            

    GDP per capita (2023, current prices): US$11,967

    		      

     Poverty rate (2019, national poverty line): 0.2 percent

    		        

    Unemployment rate (2023, period average):  3.4 percent

    		      

     Adult literacy rate (2019): 95.0 percent

    		          
                             

    Main domestic goods exports (share of total domestic exports, 2023): Machinery and Transport Equipment (45.6 percent), Manufactured Goods and Miscellaneous Manufactured Articles (19.0 percent), and Mineral Fuels, Lubricants etc. (16.5 percent).
                 
           
               

    Proj.
       

    2020

    2021

    2022

    2023

    2024

    2025

    2026

    2027

    2028

    2029

    2030

    1/
                             

    Real GDP (percent change)

    		  

    -5.5

    3.3

    8.9

    3.6

    5.0

    4.7

    4.4

    4.0

    4.0

    4.0

    4.0

    Total domestic demand

    		  

    -4.8

    3.8

    9.5

    4.7

    6.1

    4.7

    4.0

    3.6

    3.6

    3.6

    3.4

    Private consumption

    		  

    -3.9

    1.8

    11.3

    4.7

    5.3

    4.5

    3.9

    3.4

    3.9

    3.8

    3.7

    Public consumption

    		  

    4.1

    5.8

    5.1

    3.3

    4.3

    3.5

    2.7

    2.4

    2.3

    2.3

    2.3

    Private investment

    		  

    -11.9

    2.8

    7.2

    4.6

    12.0

    6.0

    5.1

    4.0

    4.0

    4.0

    4.0

    Public gross fixed capital formation

    		  

    -21.2

    -11.0

    5.3

    8.6

    11.2

    4.0

    2.8

    2.3

    2.1

    2.0

    2.1

    Net exports (contribution to growth, percentage points)

    		  

    -1.0

    -0.3

    -0.1

    -0.9

    -0.8

    0.2

    0.5

    0.6

    0.5

    0.6

    0.7
                             

    Output gap (in percent)

    		  

    -4.0

    -1.1

    2.5

    1.3

    1.1

    0.7

    0.4

    0.0

    0.0

    0.0

    0.0
                             

    Saving and investment (in percent of GDP)

    		                        

    Gross domestic investment

    		  

    19.7

    22.1

    23.6

    22.5

    22.5

    22.5

    22.6

    22.6

    22.5

    22.5

    22.5

    Gross national saving

    		  

    23.8

    26.0

    26.8

    24.0

    24.5

    24.7

    25.0

    25.3

    25.4

    25.5

    25.5
                             

    Fiscal sector (in percent of GDP) 2/

    		                        

    Federal government overall balance

    		  

    -6.2

    -6.4

    -5.5

    -5.0

    -4.3

    -3.8

    -3.8

    -3.8

    -3.8

    -3.8

    -3.8

    Revenue

    		  

    15.9

    15.1

    16.4

    17.3

    16.5

    16.2

    15.4

    15.1

    14.8

    14.6

    14.4

    Expenditure and net lending

    		  

    22.0

    21.5

    22.0

    22.3

    20.8

    20.0

    19.2

    18.9

    18.6

    18.4

    18.2

    Federal government non-oil primary balance

    		  

    -7.5

    -6.7

    -7.8

    -6.6

    -4.9

    -4.1

    -3.7

    -3.4

    -3.0

    -2.8

    -2.6

    Consolidated public sector overall balance 3/

    		  

    -7.3

    -8.3

    -6.0

    -5.9

    -8.4

    -6.7

    -6.8

    -6.9

    -6.8

    -6.9

    -6.9

    General government debt 3/

    		  

    67.7

    69.2

    65.5

    69.7

    69.6

    68.9

    68.7

    69.1

    69.3

    69.6

    69.8

    Of which: federal government debt

    		  

    62.0

    63.3

    60.2

    64.3

    64.4

    63.7

    63.5

    63.8

    64.1

    64.3

    64.5
                             
                             

    Inflation and unemployment (in percent)

    		                        

    CPI inflation, annual average

    		  

    -1.2

    2.5

    3.4

    2.5

    1.8

    2.6

    2.3

    2.0

    2.0

    2.0

    2.0

    CPI inflation, end of period

    		  

    -1.4

    3.2

    3.8

    1.5

    1.7

    3.8

    2.0

    2.0

    2.0

    2.0

    2.0

    CPI inflation (excluding food and energy), annual average

    		  

    1.1

    0.7

    3.0

    3.0

    1.8

    2.4

    2.2

    2.0

    2.0

    2.0

    2.0

    CPI inflation (excluding food and energy), end of period

    		  

    0.7

    1.1

    4.1

    1.9

    1.6

    3.8

    2.0

    2.0

    2.0

    2.0

    2.0

    Unemployment rate

    		  

    4.5

    4.6

    3.9

    3.4

    3.2

    3.2

    3.2

    3.2

    3.2

    3.2

    3.2
                             
                             

    Macrofinancial variables (end of period)

    		                        

    Broad money (percentage change) 4/

    		  

    4.9

    5.6

    4.0

    5.8

    7.1

    7.6

    6.7

    5.9

    5.9

    5.9

    5.9

    Credit to private sector (percentage change) 4/

    		  

    4.0

    3.8

    3.0

    5.2

    6.2

    6.1

    6.0

    5.9

    5.9

    5.9

    5.9

    Credit-to-GDP ratio (in percent) 5/ 6/

    		  

    144.8

    137.7

    122.4

    126.7

    125.7

    123.9

    123.1

    123.1

    123.1

    123.1

    123.1

    Overnight policy rate (in percent)

    		  

    1.75

    1.75

    2.75

    3.00

    …

    …

    …

    …

    …

    …

    …

    Three-month interbank rate (in percent)

    		  

    1.9

    2.0

    3.6

    3.7

    …

    …

    …

    …

    …

    …

    …

    Nonfinancial corporate sector debt (in percent of GDP) 7/

    		  

    109.7

    109.0

    97.5

    101.2

    …

    …

    …

    …

    …

    …

    …

    Nonfinancial corporate sector debt issuance (in percent of GDP)

    		  

    2.3

    2.6

    2.4

    2.5

    …

    …

    …

    …

    …

    …

    …

    Household debt (in percent of GDP) 7/

    		  

    93.1

    88.9

    80.9

    84.2

    …

    …

    …

    …

    …

    …

    …

    Household financial assets (in percent of GDP) 7/

    		  

    204.5

    191.9

    167.3

    174.3

    …

    …

    …

    …

    …

    …

    …

    House prices (percentage change)

    		  

    1.2

    1.9

    3.9

    3.8

    …

    …

    …

    …

    …

    …

    …
                             
                             

    Exchange rates (period average)

    		                        

    Malaysian ringgit/U.S. dollar

    		  

    4.19

    4.14

    4.40

    4.56

    …

    …

    …

    …

    …

    …

    …

    Real effective exchange rate (percentage change)

    		  

    -3.5

    -1.3

    -1.4

    -2.5

    …

    …

    …

    …

    …

    …

    …
                             
                             

    Balance of payments (in billions of U.S. dollars) 5/

    		                        

    Current account balance

    		  

    14.1

    14.5

    13.0

    6.2

    8.7

    10.2

    12.0

    14.3

    16.1

    17.6

    19.4

    (In percent of GDP)

    		  

    4.2

    3.9

    3.2

    1.5

    2.0

    2.2

    2.4

    2.7

    2.9

    3.0

    3.1

    Goods balance

    		  

    32.7

    42.9

    42.6

    29.9

    26.3

    29.3

    31.8

    33.9

    36.5

    39.2

    43.7

    Services balance

    		  

    -11.2

    -15.8

    -13.2

    -9.5

    -4.4

    -4.1

    -3.1

    -1.7

    -1.3

    -1.0

    -1.5

    Income balance

    		  

    -7.4

    -12.5

    -16.3

    -14.2

    -13.2

    -14.9

    -16.7

    -17.9

    -19.2

    -20.6

    -22.8

    Capital and financial account balance

    		  

    -18.5

    3.8

    1.8

    -3.4

    -6.0

    0.2

    -3.0

    -5.0

    -6.2

    -7.1

    -8.2

    Of which: Direct investment

    		  

    0.7

    7.5

    2.9

    0.0

    -1.3

    2.0

    2.1

    2.2

    2.4

    2.5

    2.6

    Errors and omissions

    		  

    -0.1

    -7.3

    -2.7

    -7.2

    0.0

    0.0

    0.0

    0.0

    0.0

    0.0

    0.0

    Overall balance

    		  

    -4.6

    11.0

    12.1

    -4.5

    2.7

    10.4

    9.0

    9.3

    9.9

    10.6

    11.2
                             

    Gross official reserves (US$ billions) 5/

    		  

    107.6

    116.9

    114.7

    113.5

    116.2

    126.6

    135.6

    144.9

    154.8

    165.4

    176.6

    (In months of following year’s imports of goods and nonfactor services)

    		  

    5.5

    4.9

    5.4

    4.6

    4.4

    4.6

    4.7

    4.8

    4.9

    4.9

    5.0

    (In percent of short-term debt by original maturity)

    		  

    117.6

    120.8

    104.9

    100.3

    99.4

    98.3

    97.2

    97.0

    97.3

    97.9

    98.9

    (In percent of short-term debt by remaining maturity)

    		  

    91.9

    93.5

    84.6

    80.7

    78.7

    79.4

    79.0

    79.2

    79.7

    80.5

    81.5

    Total external debt (in billions of U.S. dollars) 5/

    		  

    238.8

    258.7

    259.6

    270.6

    284.6

    305.1

    324.4

    342.8

    361.1

    379.2

    397.2

    (In percent of GDP)

    		  

    70.8

    69.3

    63.8

    67.8

    65.1

    65.3

    65.1

    64.9

    64.4

    63.8

    63.0

    Of which: short-term (in percent of total, original maturity)

    		  

    38.3

    37.4

    42.1

    41.8

    41.1

    42.2

    43.0

    43.6

    44.1

    44.6

    44.9

      short-term (in percent of total, remaining maturity)

    		  

    49.1

    48.3

    52.2

    51.9

    51.9

    52.3

    52.9

    53.4

    53.8

    54.2

    54.5

    Debt service ratio 5/

    		                        

    (In percent of exports of goods and services) 8/

    		  

    13.6

    10.5

    9.7

    11.8

    12.1

    12.1

    10.1

    9.8

    9.7

    9.6

    9.5

    (In percent of exports of goods and nonfactor services)

    		  

    14.4

    11.4

    10.3

    12.7

    12.9

    12.9

    10.7

    10.4

    10.3

    10.2

    10.0
                             
                             

    Memorandum items:

    		                        

    Nominal GDP (in billions of ringgit)

    		  

    1,418

    1,549

    1,794

    1,823

    1,952

    2,099

    2,241

    2,373

    2,512

    2,660

    2,817
                             

    Sources: Data provided by the authorities; CEIC Data; World Bank; UNESCO; and IMF, Integrated Monetary Database, and staff estimates.
                             

    1/ Data used in this report for staff analyses are as of January 29, 2025, unless otherwise noted.
    2/ Cash basis.
    3/ Consolidated public sector includes general government and nonfinancial public enterprises (NFPEs). General government includes federal government, state and local governments, and statutory bodies.
    4/ Based on data provided by the authorities, but follows compilation methodology used in IMF’s Integrated Monetary Database. Credit to private sector in 2018 onwards includes data for a newly licensed commercial bank from April 2018. The impact of this bank is excluded in the calculation of credit gap.
    5/ IMF staff estimates. U.S. dollar values are estimated using official data published in national currency.                                                                                                                         
    6/ Based on a broader measure of liquidity. Credit gap is estimated on quarterly data from 2000, using one-sided Hodrick-Prescott filter with a large parameter.
    7/ Revisions in historical data reflect the change in base year for nominal GDP (from 2010=100 to 2015=100).
    8/ Includes receipts under the primary income account.
                               

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

    [2] The Executive Board takes decisions under its lapse-of-time procedure when the Board agrees that a proposal can be considered without convening formal discussions.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pavis Devahasadin

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    MIL OSI Economics –

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

    SOURCE: Africa Women Innovation and Entrepreneurship Forum (AWIEF)

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

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

    Background

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

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

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

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

    Call for Applications

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

    Eligibility Criteria

    Businesses must meet ONE of the following criteria:

    Entrepreneurship & Ownership:

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

    OR

    Leadership:

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

    OR

    Products & Services:

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

    Additionally, businesses must be:

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

    What Are the Benefits for Participants?

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

    Applications Open Now!

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

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

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

    MIL OSI – Submitted News –

  • MIL-OSI United Nations: Food prices soar as Israel blocks aid into Gaza

    Source: United Nations 2

    Humanitarian Aid

    Israel’s move to prevent all aid from entering the Gaza Strip after Hamas reportedly refused to accept a plan to continue with phase one of the fragile ceasefire has had an immediate impact, including a 100-fold increase in the price of flour and vegetables.

    That’s according to the UN aid coordination office, OCHA, which said on Monday that the Kerem Shalom, Erez and Zikim crossing closures means that vital humanitarian assistance, including thousands of tents, can’t be delivered to civilians in need.

    Phase one of the ceasefire mediated by Egypt, Qatar and the US expired on Saturday, with Hamas calling on Israel to move on to the next agreed phase – but Israel is calling instead for a continuation of phase one through the end of the Holy Month of Ramadan in line with a proposal from the top US envoy to the region.

    January’s ceasefire deal has seen the release of 33 Israeli hostages who’ve been held captive since the 7 October terror attacks, with around 1,900 Palestinian prisoners exchanged.

    “The ceasefire has provided the opportunity to distribute food, to distribute water, as well as shelter assistance and medical aid, allowing nearly everyone in Gaza to receive food parcels,” said UN Spokesperson Stéphane Dujarric, briefing reporters in New York.

    “Our humanitarian partners tell us that following the closure of the crossings into Gaza yesterday, flour and vegetable prices increased more than 100-fold. Partners are currently assessing the stocks that are currently available,” he added.

    Ceasefire, ‘a critical lifeline’: UNICEF    

    The UN children’s agency, UNICEF, warned that the stoppage of aid deliveries into Gaza will quickly lead to devastating consequences for children and families who are simply struggling to survive.

    “The aid restrictions announced yesterday will severely compromise lifesaving operations for civilians,” said Edouard Beigbeder, UNICEF Regional Director for the Middle East. “It is imperative that the ceasefire – a critical lifeline for children – remains in place, and that aid is allowed to flow freely so we can continue to scale up the humanitarian response.”

    The agency said that between 19 January and last Friday, almost 1,000 UNICEF trucks had crossed into the enclave carrying clean water, medical supplies, vaccines, therapeutic food and other materials.

    Since the start of the ceasefire on 19 January, UNICEF and partners have provided warm clothing to 150,000 children in Gaza and increased daily water distribution for nearly half a million people living in more remote areas, Mr. Dujarric said.

    Nearly 250,000 children and thousands of pregnant and breast-feeding mothers have received nutritional supplements since the ceasefire took effect.

    Over the past two weeks, in Rafah, Khan Younis and Deir al Balah, aid partners have distributed vegetable seed kits for gardening to try and encourage more diverse diets.

    Around 1,500 water distribution points are now operating across Gaza – double the number operational at the start of the ceasefire. “However, partners tell us that pipes and spare parts for maintenance are urgently needed,” said Mr. Dujarric.

    Classrooms open

    Across Gaza, more than 100 public schools have reopened, allowing around 100,000 students back into the classroom.

    In Gaza City and North Gaza, UN partners will use tents to ensure children can continue learning, with some wood pallets recycled into school furniture.

    OCHA teams visited a displacement site in Khan Younis on Monday where around 1,200 people are staying. These communities have not been allowed to return to their homes, which are located in the buffer zone.

    OCHA is working to mobilise assistance to meet their needs.

    Meanwhile in the occupied West Bank, OCHA reports that ongoing operation by Israeli forces continues to drive humanitarian needs in northern areas. Humanitarian partners continue to face movement restrictions.

    MIL OSI United Nations News –

  • MIL-OSI Security: Federal Prosecutors Charge 126 Previously Removed Illegal Aliens, Many with Felony Criminal Records, with Illegally Re-Entering the U.S.

    Source: Office of United States Attorneys

    LOS ANGELES – Working with U.S. Immigration and Customs Enforcement and other federal law enforcement partners, federal prosecutors in recent weeks filed charges against 126 defendants who allegedly illegally re-entered the United States after being removed, the Justice Department announced today.

    Many of the defendants charged in this operation were previously convicted of felony offenses before they were removed from the U.S., offenses that include manslaughter and crimes against children.

    Filed as part of immigration enforcement activities  across the region over the past week, the criminal cases charge each defendant with being an illegal alien found in the United States following a previous removal from the United States. The criminal complaints and indictments were filed in federal court in Los Angeles, Santa Ana, and Riverside. The recently filed illegal re-entry cases resulted in nearly three dozen arrests over the past week.

    The crime of being found in the United States following removal carries a base sentence of up to two years in federal prison, defendants who were removed after being convicted of a felony face a maximum 10-year sentence, and defendants removed after being convicted of an aggravated felony face a maximum of 20 years in federal prison.

    “The U.S. Attorney’s Office is enforcing long-standing immigration laws, and Illegal aliens who defy lawful removal orders by returning to this nation will be prosecuted,” said Acting United States Attorney Joseph T. McNally. “These charges promote respect for the immigration laws. The individuals charged over the past week include sex offenders, narcotics dealers, violent criminals, and others who pose a danger to the public.”

    “This result represents a brand new, whole-of-government approach to immigration enforcement,” said Homeland Security Investigations (HSI) Los Angeles Acting Special Agent in Charge John Pasciucco. “Our primary goal, along with our federal law enforcement partners, is to ensure those who commit transnational crimes such as drug trafficking, financial fraud and child exploitation can no longer commit it in the U.S.”

    Some of the recently filed cases are summarized below with information contained in court documents. Most of these defendants were arrested February 23. Each of these defendants are Mexican nationals.

    • Ricardo Reynoso-Garcia, 59, of Arleta, was convicted in federal court of illegal reentry into the United States in September 2013 and sentenced to 46 months in prison. He was separately removed four other times between 1984 and 2018. Reynoso-Garcia was convicted in Los Angeles Superior Court of voluntary manslaughter in January 1995 and sentenced to 24 years in prison. He also was convicted in U.S. District Court of fraud and misuse of visas in April 2017 and sentenced to 18 months in prison.
    • Oscar Parra-Reyes, 50, of El Monte, was removed four previous times between 1995 and 2006. He was convicted in Los Angeles Superior Court in February 1993 for sale/transportation of marijuana and sentenced to two years in prison. He subsequently was convicted in Los Angeles Superior Court of unlawful sexual intercourse with a minor, corporal injury to a child’s parent and being a felon in possession of a firearm.
    • Luis Roberto Calderon Collantes, 52, of Rialto, was removed from the United States in August 2021 following his February 2017 conviction in San Bernardino County Superior Court for transporting methamphetamine, a felony offense for which he was sentenced to five years in California state prison. In March 2024, Collantes was found in the United States when FBI agents identified his fingerprints on a package of fentanyl they obtained through an undercover purchase on the dark web, a package investigators believe originated from his Rialto home.
    • Valentin Vidal-Lopez, 35, of Granada Hills, was removed from the United States in April 2018. He was convicted of attempted murder in January 2011 in Los Angeles County Superior Court and was sentenced to 10 years in California state prison. According to court documents, immigration authorities were notified on January 26 that Vidal-Lopez was in the custody of the Ventura County Sheriff’s Office after his arrested on the charges of resisting, delaying or obstructing a peace officer, DUI alcohol, and possessing a forged driver’s license. At the time of his arrest, Vidal-Lopez allegedly ignored officer commands to step out of his vehicle and then began to drive away. Vidal-Lopez allegedly continued to ignore officer commands and verbally threatened to fight the officers. When taken into custody, Vidal-Lopez allegedly possessed a driver’s license and a Social Security card in other people’s names, along with a bogus lawful permanent resident card, commonly known as a “green card.”
    • Erasmo Hermosillo-Martin, 69, of Inglewood, was removed from the United States to Mexico in March 1994. He was convicted of kidnapping and terrorist threats in May 1991 in Los Angeles County Superior Court and was sentenced to five years and eight months in California state prison. On January 14, law enforcement was notified via the HSI Tipline that Hermosillo-Martin had returned to the United States.
    • Angel Navarro-Camarillo, 42, was removed from the United States four times between 2007 and 2021. He was convicted in Orange County Superior Court in August 2004 for lewd and lascivious acts upon a child under 14 and sentenced to five years’ probation and 202 days in jail. In October 2005, but his probation was revoked, and he was sentenced to three years in prison. Navarro-Camarillo was convicted in U.S. District Court in February 2019 for being an illegal alien found in the United States following removal and was sentenced to 46 months in prison.
    • Isidro Jimenez-Ibanez, 51, of Coachella, was arrested February 24. Jimenez-Ibanez was removed in 1995 following a conviction for possession for sale of methamphetamine in Riverside County Superior Court. According to the criminal complaint, Jimenez-Ibanez returned to the United States and was convicted in 2023 of assault with a deadly weapon in Riverside County.

    Criminal complaints and indictments contain allegations. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    The illegal re-entry cases filed as part of the past week’s immigration enforcement activities are being investigated by U.S. Immigration and Customs Enforcement and Homeland Security Investigations.

    The FBI; the Drug Enforcement Administration; the United States Marshals Service; U.S. Customs and Border Protection; the Bureau of Alcohol, Tobacco, Firearms and Explosives; and the State Department’s Diplomatic Security Service provided substantial support during the enforcement activities this week.

    The criminal cases are being prosecuted by Assistant United States Attorneys in the Domestic Security and Immigration Crimes Section and the General Crimes Section.

    MIL Security OSI –

  • MIL-OSI USA: Base Redesignation

    Source: United States Army

    Secretary of Defense Hegseth directed the Army to change the name of Fort Moore to Fort Benning in honor of Cpl. Fred G. Benning, a Distinguished Service Cross (DSC) recipient, who heroically served in Machine-Gun Company, 16th Infantry Regiment, 1st Division, American Expeditionary Forces, in France during World War I. On October 9, 1918, the enemy killed Cpl. Benning’s platoon commander and disabled two senior noncommissioned officers in action south of Exermont, France. The Army awarded Cpl. Benning the DSC for his heroic actions that day as he courageously led the remaining 20 men through heavy fire to their assigned objective in support of the Meuse-Argonne Offensive.

    CPL Benning was the living embodiment of the Infantryman’s Creed: He was “swift, determined and courageous, armed with a fierce will to win.

    Fort Benning, home of the Army’s Maneuver Center of Excellence, trains thousands of Infantry, Armor, and Ranger warfighters to answer their nation’s call. Secretary Hegseth’s directive honors the warrior ethos and recognizes the heroes who have trained at the installation for decades.

    The Secretary of the Army will take immediate action to implement this decision.

    MIL OSI USA News –

  • MIL-OSI USA: Governor Hochul is a Guest on CNN’s ‘The Situation Room’

    Source: US State of New York

    arlier today, Governor Kathy Hochul was a guest on CNN’s “The Situation Room” with Wolf Blitzer. The Governor spoke on the New York City mayoral race, her “You’re Hired” initiative for those impacted by the Department of Government Efficiency’s layoffs and on how the Trump administration’s tariffs on Canada affect New York State residents.

    AUDIO: The Governor’s remarks are available in audio form here.

    A rush transcript of the Governor’s remarks is available below:

    Wolf Blitzer, CNN:  New York Governor Andrew Cuomo is now plotting a major political comeback, announcing over the weekend his candidacy for mayor of New York City. Cuomo resigned from office back in 2021 amid a sexual harassment scandal — he denies all those allegations.

    Joining us now is New York’s current governor, Kathy Hochul. She served as Lieutenant Governor during the Cuomo administration. Governor Hochul, thanks so much for joining us. When Cuomo stepped down, back in 2021, you called his behavior, and I’m quoting you now, “repulsive.” Do you think he is fit to serve as New York’s mayor?

    Governor Hochul: First of all, Wolf, congratulations on the new show, delighted to be on your first episode. Also, here’s what I’m going to tell you about the mayor’s race — and this is the position you’re going to hear today, all the way up until the election’s over for the primary in June — I will work with whomever the really smart voters of New York City decide they want to be their mayor. That is not up for me to decide. I don’t even vote in the city.

    But I will say, also, I will support people — ultimately, after they’re elected — who support my agenda of increasing public safety, dealing with the homelessness crisis, people with mental health problems, closing down illegal cannabis shops, making our streets safer.

    So, I’m looking forward to working with whomever wants to partner with me to lift this city up. But in the meantime, I’m not focused on the politics. I have a state to run, I’ve got multiple crises — many of them emanating from Washington. I was with children yesterday who are severely ill, where parents are terrified of losing Medicaid. So, I will say this will all work itself out, but I’m focused on governing the State of New York, nothing else.

    Wolf Blitzer, CNN: The Governor of New York, as you well know, and the Mayor of New York City have to work together very, very closely. If Cuomo wins that race and becomes the next mayor of New York, would you be able to work with him despite some of that history?

    Governor Hochul: It’s up to the voters, Wolf. I’m not injecting my voice into this election. There’s a lot of people that have put their names forward. I admire anybody who wants to run for office. I’m in my 16th election — I know how challenging it is, but I want people who will put the city first, who will understand that I have done more to help this city than anybody in a long time. Investing money — I’m literally paying for overtime for our police officers, NYPD, to be on the subways, and guess what? Subway crimes are way down. I’m working on getting more homeless off the streets, building more housing. No one has ever taken this on the way I have — to reduce the cost of living here in this great city.

    My agenda is broad-based. It’s very supportive of the city. I had to work with Bill de Blasio as mayor, I worked with Eric Adams for the last number of years and, whatever the voters decide, I will respect that.

    Wolf Blitzer, CNN: Governor, I want to turn now to President Trump’s sweeping efforts right now to slash the entire federal government. You hosted a roundtable this morning with workers hit by those federal job cuts. What kind of impact is this having in my home State of New York?

    Governor Hochul: It is absolutely devastating. Some people are on the verge of tears. I gathered about ten people who, unceremoniously, were dumped, some of them on Valentine’s Day. People that were working to fight consumer fraud, making sure that the huge corporations that are trying to evade taxes have to pay it; people who take care of our veterans; people who are making us safe — all of them were just dumped.

    And I know the Trump-Musk administration doesn’t have regard for them — they think they’re disposable, that they make no contributions, but guess what? These are people who keep our skies safe. They’re the ones who are researching, making sure we can have cures so our kids don’t get sick; taking care of vaccinations. Countless ways that these are highly valuable people, but in New York, we’re saying, “You get fired by them? In New York, you’re hired.”

    And just literally today, you’ll start seeing in Washington at Union Station, you’ll see ads that show basically this message, that you want a job in public service? We respect you, we want you to stay and so here it is.

    We want you to come back and work for us. I will hire you. I need you. We have 7,000 openings in the State of New York, and we value public service. Public servants take care of our people. That’s what it’s all about. Come onboard. We’ll hire you.

    Wolf Blitzer, CNN: On another very sensitive issue, Governor, I want to get your thoughts. President Trump is now pushing ahead with plans to slap 25 percent tariffs on Canada and Mexico starting tomorrow. Canada, of course, borders New York State. You and I grew up in western New York, right on the border with Canada. How is this going to affect New York State, which has such close economic ties with Canada, especially Ontario?

    Governor Hochul: It’ll be devastating. You know the synergy there is to us in Western York. It’s not another country, it’s just our neighbors across the bridge. And the jobs, the people who go get their education back and forth, the close connections, but also the businesses that thrive in New York and in Canada because they’re our largest trading partner. $5 billion worth of trade across our borders every single year. That’s going to affect the cost of steel and aluminum as we’re trying to build up.

    We’re building Micron, the largest semiconductor manufacturing plant going on right now, the largest [private] investment in [New York State] history, going on in Syracuse, New York. I have to keep that going.

    And for our businesses to think that some of their commodities, their products, are now going to cost 25 percent more, how is that about reducing people’s costs? We were promised lower prices on day one, Inauguration Day. Not only is everything going to go up, even eggs — eggs now cost $11 in New York City, up 20 percent from what they’ve been on Inauguration Day.

    This is not the trend. This is not what people have promised. And I encourage the administration to look closely at how they can keep the promise of reducing the cost of living for every American, but particularly people who are hard hit here in New York.

    Wolf Blitzer, CNN: Yeah. Very hard hit indeed. Governor, the Trump administration has already delayed the implementation of these tariffs before. Do you foresee that happening again?

    Governor Hochul: I hope so. I hope they understand that what is a good sound bite is not going to help in reality, especially the businesses and the people who voted for you. These are people in the North Country of New York. It is a predominantly red area. They voted for you, Mr. President, and now their jobs in manufacturing are on the line. And I’d be terrified to know that the damage that could happen is people losing their jobs in New York and all across America. We can’t let that happen. So continue to delay. Let’s work this out, let’s find a solution, but let’s not drive up the cost on people all across this country. That’s the last thing we need right now.

    Wolf Blitzer, CNN: The President has repeatedly tied his proposal for a lot of tariffs to the flow of drugs crossing the border, including the Canadian border, into the United States. Are you seeing evidence of significant drug trafficking from New York’s border with Canada?

    Governor Hochul: There was a time when there was a spike, but I have deployed more people on the border, the Canadians are working closely with us, the Border Patrol — it is a fraction of what is being talked about. It is a problem, of course, we don’t want a single drug to come across the border. But it does not justify the cataclysmic impact the tariffs will have on the State of New York.

    So, we can solve the problem at the border. We don’t want drugs coming over, we don’t want gangs coming over, we don’t want human traffickers coming over, we get that. We’ll work with you. We’ll work with the federal administration on this. But this is such an extreme remedy that is going to have a ripple effect across our entire economy, and especially in a place like this state.

    Wolf Blitzer, CNN: New York Governor Kathy Hochul, as usual, thank you very much. Appreciate it. We’ll continue this conversation down the road.

    Governor Hochul: Sounds good. Thanks, Wolf.

    MIL OSI USA News –

  • MIL-OSI Canada: Premier’s statement on U.S. preliminary softwood lumber decision

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

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

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

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

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

    MIL OSI Canada News –

  • MIL-OSI USA: Bottled Water Everywhere: Keeping it Safe

    Source: US Food and Drug Administration

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    Seems like almost everyone is carrying a bottle of water these days.
    The U.S. Food and Drug Administration regulates bottled water products, working to ensure that they’re safe to drink.
    The FDA protects consumers of bottled water through the Federal Food, Drug, and Cosmetic Act, which makes manufacturers responsible for producing safe, wholesome, and truthfully labeled food products.
    There are regulations that focus specifically on bottled water, including:

    “standard of identity” regulations that define different types of bottled water
    “standard of quality” regulations that set maximum levels of contaminants—including chemical, physical, microbial, and radiological contaminants—allowed in bottled water
    “current good manufacturing practice” regulations that require bottled water to be safe and produced under sanitary conditions

    Types of Bottled Water
    The FDA describes bottled water as water that’s intended for human consumption and sealed in bottles or other containers with no added ingredients, except that it may contain safe and suitable antimicrobial agents. Fluoride may also be added within the limits set by the FDA.
    The agency classifies some bottled water by its origin. Here are four of those classifications:

    Artesian well water. This water is collected from a well that taps an aquifer—layers of porous rock, sand, and earth that contain water—which is under pressure from surrounding upper layers of rock or clay. When tapped, the pressure in the aquifer, commonly called artesian pressure, pushes the water above the level of the aquifer, sometimes to the surface. Other means may be used to help bring the water to the surface.
    Mineral water. This water comes from an underground source and contains at least 250 parts per million total dissolved solids. Minerals and trace elements must come from the source of the underground water. They cannot be added later.
    Spring water. Derived from an underground formation from which water flows naturally to the surface, this water must be collected only at the spring or through a borehole that taps the underground formation feeding the spring. If some external force is used to collect the water through a borehole, the water must have the same composition and quality as the water that naturally flows to the surface.
    Well water. This is water from a hole bored or drilled into the ground, which taps into an aquifer.

    Bottled water may be used as an ingredient in beverages, such as diluted juices or flavored bottled waters. However, beverages labeled as containing “sparkling water,” “seltzer water,” “soda water,” “tonic water,” or “club soda” aren’t included as bottled water under the FDA’s regulations. These beverages are instead considered to be soft drinks.
    It May Be Tap Water
    Some bottled water also comes from municipal sources—in other words, public drinking water or tap water. Municipal water is usually treated before it is bottled. Examples of water treatments include:

    Distillation. Water is turned into a vapor, leaving minerals behind. Vapors are then condensed into water again.
    Reverse osmosis. Water is forced through membranes to remove minerals.
    Absolute 1 micron filtration. Water flows through filters that remove particles larger than one micron—.00004 inches—in size. These particles include Cryptosporidium, a parasitic pathogen that can cause gastrointestinal illness.
    Ozonation. Bottlers of all types of waters typically use ozone gas, an antimicrobial agent, instead of chlorine to disinfect the water. Chlorine can add residual taste and odor to the water.

    Bottled water that has been treated by distillation, reverse osmosis, or another suitable process may meet standards that allow it to be labeled as “purified water.”
    Ensuring Quality and Safety
    Federal quality standards for bottled water were first adopted in 1973. They were based on U.S. Public Health Service standards for drinking water set in 1962.
    The 1974 Safe Drinking Water Act gave regulatory oversight of public drinking water to the U.S. Environmental Protection Agency. The FDA subsequently took responsibility, under the FD&C Act, for ensuring that the quality standards for bottled water are compatible with EPA standards for public drinking water.
    Each time the EPA establishes a standard for a contaminant, the FDA either adopts it for bottled water or finds that the standard isn’t necessary for bottled water.
    In some cases, standards for bottled water and public drinking water differ. For example, because lead can leach from pipes as water travels from water utilities to home faucets, the EPA set its limit for lead in public drinking water at 15 parts per billion. For bottled water, for which lead pipes aren’t used, the lead limit is set at 5 ppb.
    For bottled water production, bottlers must follow the CGMP regulations specific to processing and bottling drinking water, put in place and enforced by the FDA. Water must be sampled, analyzed, and found to be safe and sanitary. These regulations also require proper plant and equipment design, bottling procedures, and record keeping.
    In addition, bottled water processors are generally required to register with the FDA as food facilities. Domestic and foreign facilities that are required to register as food facilities must comply with the requirements for risk-based preventive controls mandated by the FDA Food Safety Modernization Act as well as the modernized CGMPs of this rule that cover all human food facilities, unless an exemption applies. Please see FDA’s Preventive Controls for Human Food webpage for additional details.
    Furthermore, the FDA oversees inspections of bottling plants. The agency inspects bottled water plants under its general food safety program and has states perform some plant inspections under contract. Some states also require bottled water firms to be licensed annually. 

    MIL OSI USA News –

  • MIL-OSI USA: Don’t Wait to Apply for FEMA Assistance in North Carolina

    Source: US Federal Emergency Management Agency

    Headline: Don’t Wait to Apply for FEMA Assistance in North Carolina

    Don’t Wait to Apply for FEMA Assistance in North Carolina

    HICKORY, N.C. – If you had uninsured losses from Tropical Storm Helene, don’t wait any longer to apply for financial help from FEMA. The deadline for applications is Saturday, March 8.FEMA may be able to help with temporary lodging, basic home repairs, personal property loss or other disaster-caused needs. Homeowners and renters in these counties can apply: Alexander, Alleghany, Ashe, Avery, Buncombe, Burke, Caldwell, Catawba, Clay, Cleveland, Gaston, Haywood, Henderson, Jackson, Lincoln, Macon, Madison, McDowell, Mitchell, Polk, Rutherford, Transylvania, Watauga, Wilkes and Yancey; and members of the Eastern Band of Cherokee Indians.There are several ways to apply: Visit a Disaster Recovery Center, go online to DisasterAssistance.gov, use the FEMA App, or call 800-621-3362. If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other, give FEMA your number for that service. To find a Disaster Recovery Center, go online to fema.gov/drc or text DRC & your ZIP code to 43362.To view an accessible video on how to apply visit Three Ways to Apply for FEMA Disaster Assistance – YouTube. 
    angela.ambroise
    Mon, 03/03/2025 – 18:36

    MIL OSI USA News –

  • MIL-OSI USA: FEMA to Host Housing Resource Fair Mar. 8 in Coffee County

    Source: US Federal Emergency Management Agency

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

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

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

    MIL OSI USA News –

  • MIL-OSI USA: NASA Marks 110 Years Since Founding of Predecessor Organization

    Source: NASA

    To celebrate the 110th anniversary of the organization that ultimately became NASA, the agency released a new collection of videos to highlight the history of the National Advisory Committee for Aeronautics (NACA) and the ways it transformed flight over four decades.

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    A new video collection highlights the history and significance of NASA’s predecessor organization.

    Not long after the beginning of World War I, the United States Congress, concerned that America was lagging behind other countries, created a new committee to advance the nation’s flight technology development. On March 3, 1915, the NACA was founded “to supervise and direct the scientific study of the problems of flight, with a view to their practical solution.”
    While the NACA began as a committee of only 12 leaders representing government, military, and industry, it rapidly expanded through World War II to develop America’s flight capabilities for defense and commercial uses. The organization became home to some of the nation’s best and brightest aeronautical engineers and world-class facilities, transforming into NASA at the dawn of the Space Age in 1958.
    The new video collection highlights some of NACA’s striking historic photography and celebrates this pioneering organization with a brief history of its formation, expansion, and groundbreaking aeronautics research at four centers across the United States — the current homes of NASA’s Langley Research Center in Hampton Virginia, Ames Research Center in California’s Silicon Valley, Glenn Research Center in Cleveland, and Armstrong Flight Research Center in Edwards, California.

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