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ROSEN, GLOBAL INVESTOR COUNSEL, Encourages BioXcel Therapeutics, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – BTAI

NEW YORK, Aug. 11, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of BioXcel Therapeutics, Inc. (NASDAQ: BTAI) between December 15, 2021 and June 28, 2023, both dates inclusive (the "Class Period"), of the important September 5, 2023 lead plaintiff deadline.

SO WHAT: If you purchased BioXcel Therapeutics securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the BioXcel Therapeutics class action, go to https://rosenlegal.com/submit–form/?case_id=17579 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 5, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) BioXcel Therapeutics lacked adequate internal controls over protocol adherence and data integrity; (2) as a result, BioXcel Therapeutics's principal investigator failed to adhere to the informed consent form approved by the Institutional Review Board ("IRB"); (3) BioXcel Therapeutics's principal investigator failed to maintain adequate case histories for certain patients whose records were reviewed by the U.S. Food and Drug Administration ("FDA"); (4) BioXcel Therapeutics's principal investigator fabricated email correspondence with a pharmacovigilance safety vendor that was then provided to the FDA; (5) the foregoing would negatively impact BioXcel Therapeutics's ability to obtain regulatory approval of BXCL501 (which is purportedly a proprietary, orally dissolving, film formulation of dexmedetomidine, or "Dex") for the treatment of agitation associated with dementia in patients with probable Alzheimer's disease; and (6) as a result of the foregoing, defendants' positive statements about BioXcel Therapeutics's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the BioXcel Therapeutics class action, go to https://rosenlegal.com/submit–form/?case_id=17579 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the–rosen–law–firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

———————————————–

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686–1060
Toll Free: (866) 767–3653
Fax: (212) 202–3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com


GLOBENEWSWIRE (Distribution ID 8892342)

ROSEN, SKILLED INVESTOR COUNSEL, Encourages Hayward Holdings, Inc. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – HAYW

NEW YORK, Aug. 10, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Hayward Holdings, Inc. (NYSE: HAYW) between March 2, 2022 and July 27, 2022, both dates inclusive (the "Class Period"), of the important October 2, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Hayward securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Hayward class action, go to https://rosenlegal.com/submit–form/?case_id=12009 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 2, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Hayward Holdings and its management had engaged in a channel–stuffing scheme designed to artificially boost Hayward Holdings' short–term sales and earnings; (2) Hayward Holdings had flooded its channel partners with inventory that they did not want or need at a level that far outpaced then–existing consumer demand; (3) Hayward Holdings' channel partners were suffering from an inventory glut as a result of the channel–stuffing scheme that would require a massive de–stocking in the second half of 2022; (4) Hayward Holdings' channel–stuffing scheme had cannibalized future sales, materially impairing Hayward Holdings' ability to sell to its customers; (5) the demand for pool equipment had slowed down, which, combined with flooding channel partners with more inventory, led to an inventory glut and the need for these channel partners to reduce inventory levels; and (6) as a result of the above, Hayward Holdings' projected 2022 financial results were not achievable and lacked a reasonable basis in fact. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Hayward class action, go to https://rosenlegal.com/submit–form/?case_id=12009 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the–rosen–law–firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

———————————————–

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686–1060
Toll Free: (866) 767–3653
Fax: (212) 202–3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com


GLOBENEWSWIRE (Distribution ID 8892224)

SE SHAREHOLDER ALERT: ROSEN, TOP RANKED INVESTOR COUNSEL, Encourages Sea Limited Investors to Secure Counsel Before Important Deadline in Securities Class Action – SE

NEW YORK, Aug. 10, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Sea Limited (NYSE: SE) between April 23, 2022 and May 15, 2023, both dates inclusive (the "Class Period"), of the important September 19, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Sea securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Sea class action, go to https://rosenlegal.com/submit–form/?case_id=17863 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 19, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Sea overstated its ability to manage the growth of its user base and loan book while enhancing its profitability; (2) Sea's expansion to a broader user base and growing loan book rendered the Company significantly more vulnerable to higher credit losses; (3) as a result, the Company was likely to book a significant increase in loan loss reserves; (4) the foregoing was likely to have a significant negative impact on Sea's earnings; and (5) as a result, the Company's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Sea class action, go to https://rosenlegal.com/submit–form/?case_id=17863 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the–rosen–law–firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

———————————————–

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686–1060
Toll Free: (866) 767–3653
Fax: (212) 202–3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com


GLOBENEWSWIRE (Distribution ID 8892487)

ROSEN, A LONGSTANDING LAW FIRM, Encourages Eos Energy Enterprises, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – EOSE, EOSEW

NEW YORK, Aug. 10, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Eos Energy Enterprises, Inc. (NASDAQ: EOSE, EOSEW) between May 9, 2022 and July 27, 2023, both dates inclusive (the "Class Period"), of the important October 2, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Eos securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Eos class action, go to https://rosenlegal.com/submit–form/?case_id=18041 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 2, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Bridgelink Commodities, LLC ("Bridgelink") is connected to a group whose assets were seized by a creditor and sold in an auction; (2) as such, Bridgelink's commitment and ability to purchase Eos products was not as secure as Eos had led investors to believe; (3) as such, Eos's backlog was overstated; (4) such overstatement negatively impacts Eos's ability to secure a loan from the Department of Energy; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Eos class action, go to https://rosenlegal.com/submit–form/?case_id=18041 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the–rosen–law–firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

———————————————–

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686–1060
Toll Free: (866) 767–3653
Fax: (212) 202–3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com


GLOBENEWSWIRE (Distribution ID 8892241)

ROSEN, A RANKED AND LEADING FIRM, Encourages Apellis Pharmaceuticals, Inc. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – APLS

NEW YORK, Aug. 10, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of common stock of Apellis Pharmaceuticals, Inc. (NASDAQ: APLS) between January 28, 2021 and July 28, 2023, both dates inclusive (the "Class Period"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 2, 2023.

SO WHAT: If you purchased Apellis common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Apellis class action, go to https://rosenlegal.com/submit–form/?case_id=17734 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 2, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) SYFOVRE's (an intravitreal pegcetacoplan injection which is the first and only approved therapy for geographic atrophy ("GA"), a leading cause of blindness) design of clinical trials was insufficient to identify incidents of retinal vasculitis in patients receiving SYFOVRE injections; (2) as a result, the commercial adoption of SYFOVRE was subject to significant, unknown risk factors; and (3) therefore, defendants' statements about Apellis' business, operations, and prospects lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Apellis class action, go to https://rosenlegal.com/submit–form/?case_id=17734 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the–rosen–law–firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

———————————————–

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686–1060
Toll Free: (866) 767–3653
Fax: (212) 202–3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com


GLOBENEWSWIRE (Distribution ID 8892303)

eXp Realty Exceeds 1,000-Agent Milestone in South Africa

BELLINGHAM, Wash., Aug. 10, 2023 (GLOBE NEWSWIRE) — eXp Realty , "the most agent–centric real estate brokerage on the planet" and the core subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), today announced it has exceeded 1,000 agents across South Africa, representing an over 74% increase from the 574 total agent count in July 2022.

"This is a proud moment for eXp Realty South Africa as we reach such a huge milestone," said Michael Valdes, Chief Growth Officer, eXp Realty. "Our attractive and continuously evolving agent–centric value proposition continues to resonate with agents from around the world and we are so thrilled to be home to over 1,000 real estate professionals in South Africa!"

According to Andrew Thompson, Director and Country Leader of eXp Realty South Africa, eXp South Africa has had more transactions in the first six months of this year compared to last year. "eXp South Africa has realized a cash–flow positive, debt–free and profitable operation in its first 15 months since receiving its license via the Property Practitioners Regulatory Authority back in December 2020," said Thompson.

"Since its inception, eXp has remained committed to putting agents first to equip them with the knowledge and tools necessary to reach their full potential. I am so proud to be able to lead such an incredible group of agents through this expansion and beyond," he added.

eXp South Africa is proudly committed to serving the community, having recently donated R350,000 to Dr. Imtiaz Sooliman of Gift of the Givers to support local and international communities.

About eXp World Holdings, Inc.

eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty , Virbela and SUCCESS Enterprises.

eXp Realty is the largest independent real estate company in the world with more than 88,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, Germany, Dominican Republic, Greece, New Zealand, Chile, Poland and Dubai and continues to scale internationally. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud–based brokerage is powered by Virbela, an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive. SUCCESS Enterprises, anchored by SUCCESS magazine and its related media properties, was established in 1897 and is a leading personal and professional development brand and publication.

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

Safe Harbor Statement

The statements contained herein may include statements of future expectations and other forward–looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward–looking statements speak only as of the date hereof, and the company undertakes no obligation to revise or update them. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward–looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the company's Securities and Exchange Commission filings, including but not limited to the most recently filed Quarterly Report on Form 10–Q and Annual Report on Form 10–K.

Media Relations Contact:

eXp World Holdings, Inc.

mediarelations@expworldholdings.com

Investor Relations Contact:

Denise Garcia

investors@expworldholdings.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0f5cf167–2910–43fd–8a41–dfc00358fa16


GLOBENEWSWIRE (Distribution ID 8892150)

Disappearing Fish Spell Hard Times for Women in Zimbabwe

Overfishing is harming the informal traders who rely on it for income. CREDIT: Marko Phiri/IPS

Overfishing is harming the informal traders who rely on it for income. CREDIT: Marko Phiri/IPS

By Marko Phiri
BULAWAYO, ZIMBABWE, Aug 10 2023 – Zimbabwe’s ballooning informal sector has, in recent years, spawned the over-exploitation of the country’s natural resources, with the fisheries taking some of the most felt battering.

Amidst challenges brought by economic hardships, fisheries—for long imagined to be an infinite resource by hawkers and fishermen—are providing women with livelihoods against odds brought by climate change and competition from male fishmongers who go into the water.

Selling fish has for years been a source of income for women, but with current unemployment levels, more and more women are trying their hand at anything that will provide income.

According to the International Labour Organisation, out of more than five million informal traders in Zimbabwe, 65 percent are women, throwing more women into sectors such as fisheries that offer hope for steady incomes.

However, comes with its own downside.

Demand for aquaculture produce has not slowed amid dwindling fish stocks in the country’s dams, according to the Ministry of Lands, Agriculture, Fisheries, Water, Climate, and Rural Development.

Officials say because consumers have no idea about underwater resource sustainability and management, the more nets are cast into the country’s waters, the less efforts are done to conserve the country’s fisheries.

Long touted as a cheap source of nutrition, with the price of fish bought directly from dams cheaper than that sold in supermarkets and butcheries, this has resulted in unintended consequences.

Janet Dube is a frustrated single breadwinner in Bulawayo.

She makes a living visiting dams surrounding the city of Bulawayo and used to travel as far as the Zambezi to purchase fish stock but now says she has watched as a growing number of people, especially women try their luck buying and selling fish.

And with huge numbers entering the fish trade, it has meant diminishing returns as fish in the country’s waterways are not being repopulated fast enough.

“I don’t get as many fish I used from my suppliers even in dams around the city where you do not have to travel to faraway places such as Binga to buy fish for resale in Bulawayo,” Dube said.

Sitting on the pavement of Bulawayo’s central business district, in the country’s second city, Dube hawks fresh bream fish and laments that although her stock is low, she still must worry about the fish going bad because of electricity power cuts.

Zimbabwe is in the midst of a long-running energy deficit that has not spared anyone, with the fisheries sector feeling the strain.

“I only come to sell fish in the central business district late afternoon to avoid losses as fish goes bad pretty fast,” Dube told IPS.

However, for other fishmongers, selling dried bream and kapenta has become the answer to these challenges.

At another bustling city pavement, Gracious Maruziva sells dried kapenta sourced in the Zambezi Valley.

“I don’t go there myself but buy from some people who travel to Binga regularly, but they don’t supply as regularly as they used to,” Maruziva said.

The reason: Her suppliers are struggling to bring in the once-abundant delicacy.

“It’s increasingly becoming tough selling fish as they say they are also not getting enough from their suppliers in the Zambezi,” she added.

Local researchers and agencies such as the Food and Agriculture Organisation (FAO) have raised concerns about the lack of sustainability efforts in the country’s fisheries sector, that in recent years has experienced its own gold rush of sorts.

For years women in Bulawayo have travelled long distances to buy fish in bulk, creating long value chains along the way, but it is the current challenges that include low fish stocks in the dams and power outages that interrupt refrigeration that is exposing the risks that come with the fish business.

And with those challenges has been little success in sustainability and conservation of natural resources, experts say.

“We have seen it in the resource-rich communities through our trade justice work communities carry what is known as the ‘resource curse’,” said John Maketo, programmes manager at the Zimbabwe Coalition on Debt and Development.

“Instead of adequately benefiting from the availability of a natural resource around them, communities become overburdened with the negative consequences of having it,” Maketo said at a time artisanal fishermen and miners are blamed for anything stripping dams of fish and illegally exploiting gold claims across the country.

However, there are concerns that in the absence of robust conservation efforts, the country’s fisheries could adversely affect rural communities relying on natural resources.

The Zimbabwe Parks and Wildlife Management Authority (ZimParks) is on record lamenting the unregulated new entrants into the fisheries sector, a development that has further threatened already low fish stocks in the country’s dams.

According to FAO’s FISH4ACP, an initiative that seeks the economic and sustainability of fisheries in Africa, the Caribbean and the Pacific, Zimbabwe has over 12,000 dams, noting that despite this abundance, the sector continues to struggle.

To address this, FAO is “supporting an economically, socially, and environmentally sustainable fish farming sector” amid weak regulatory mechanisms and sound implementation of existing fishing quotas.

For women who find themselves hawking fish in the streets of Bulawayo, the consequence of that struggle is being felt in their daily takings.

“Fish is profitable, provided I get constant supplies. For now, I’m making do with what I can get,” said Dube.

Note: This story was supported by the Pulitzer Centre.

IPS UN Bureau Report

 


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Requiem for the UN Security Council: Towards a UN Charter Review Conference

A Security Council meeting in progress. Credit: United Nations

By Tim Murithi
CAPE TOWN, South Africa, Aug 10 2023 – The world’s institutions are ill-prepared and poorly designed to effectively address global challenges such as major power conflicts, pandemics, the climate catastrophe, refugee crises, violent extremism, illicit profiteering from natural resources, and the regulation of artificial intelligence systems.

In particular, the United Nations, which was created to address the problems of the world in 1945, is no longer fit for purpose. The multilateral organization has outlived its usefulness; there is an urgent need to design a global institution that is reflective of the twenty-first century.

The UN was created with a recognition of the limitations of the League of Nations in mind. In particular, the League was unable to prevent the conquest of Europe by Nazi Germany and the Japanese invasion of China.

History is repeating itself in the form of the powerful Permanent Five (P5) members of the UN Security Council (UNSC) repeatedly ignoring the legal provisions of the UN Charter and weakening the legitimacy of this international institution, by invading countries in contravention of international law.

The dysfunctionality of the UNSC was exposed once more on February 24, 2022, when Russia was simultaneously chairing the Presidency of the Council and launching an illegal invasion of Ukraine. This war is impeding global stability. Ukrainians suffer the most from this conflict, which also inflicts great damage to Global South countries’ economies and human security.

Yet, other major conflicts are also looming, for example between the United States and China over Taiwan, and it is unlikely that the planet can endure another full-blown major-power war.

A confrontation between two nuclear weapons-bearing permanent members of the UNSC would leave us all in an extremely precarious state of affairs, but there are currently no effective mechanisms to constrain the UNSC’s permanent members’ actions.

The founders of the UN recognized that the moment would arrive when it became imperative to transform the organization, and they included a practical mechanism to review the body’s Charter.

According to Article 109 (1), a UN Charter Review Conference should have been convened 10 years after the signing of the document. Today, it could be initiated by a majority vote of the members of the UN General Assembly (UNGA) and by a vote of any seven members of the UNSC, according to Article 109 (3).

This provision means that the P5 members cannot veto any proposed UN Charter Review Conference. In practice, a dozen or more UN member states drawn from different continents would need to create a “Coalition of the Willing” within the UNGA, which would have to draft a Resolution to trigger and launch a UN Charter Review Conference.

Such a Review Conference could, through the collective decision of the members of the UNGA, identify the key issues that need to be addressed, including reform of the UNSC. The Review Conference could also adopt a recommendation to substantially alter the UN Charter and introduce completely new provisions, including even a change in the name of the institution.

More than 60 percent of the issues discussed by the UNSC are focused on Africa, yet the continent does not have any representation among the P5 members of the Council.

Given the fact that the P5 can veto all manner of decisions before the Council, it is a travesty of justice at its most basic level that African countries can only participate in key deliberations and decision-making processes as non-permanent members of the Council.

UNSC negotiations and decision-making processes are, in effect, the highest manifestation of unfairness in the international system. If achieving fairness in negotiations among states is the preferred route to global legitimacy, then a fundamental transformation of the UNSC and the elimination of the veto for the P5 is a necessary pre-requisite action.

Tim Murithi is Head of the Peacebuilding Interventions Programme, Institute for Justice and Reconciliation, and Professor of African Studies, University of Free State and Stellenbosch University, South Africa, @tmurithi12

Source Stimson Center Washington DC

IPS UN Bureau

 


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Duck Creek Technologies Expands to the Indian Market, Offering Its Global Core Technology Platform to India-Based Insurance Carriers

Mumbai, Aug. 09, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies India LLP, a subsidiary of Duck Creek Technologies, today announced a historical milestone with its expansion into the Indian general insurance market. Duck Creek Technologies India LLP now offers India–based insurers the ease, convenience, and power of modern cloud–based software–as–a–service (SaaS), delivered as a full suite of capabilities or as stand–alone solutions. With this expansion, Duck Creek reinforces its market commitment by establishing its data center in India, supported by nearly 1,000 local employees.

In partnership with its first core systems full–suite India–based insurance customer, HDFC ERGO General Insurance Company Limited ("HDFC ERGO"), Duck Creek will deploy its intuitive, user–friendly, and powerful solutions to empower HDFC ERGO to take new products to market faster and significantly improve their customers' experience throughout the policy lifecycle and across the insurer's entire portfolio. Duck Creek's products and solutions will holistically bring a competitive advantage to HDFC ERGO across its entire system, portfolio and operations.

Speaking about the partnership, Sriram Naganathan, President and Chief Technology Officer, HDFC ERGO General Insurance, said, "As a leading insurer of the country, at HDFC ERGO, it has been our priority in adopting innovative technologies to address the evolving demands of our customers and offer them an enhanced customer experience. Being a digital insurer of scale, our partnership with Duck Creek Technologies India LLP is a crucial step towards unlocking the full potential of HDFC ERGO's wide insurance solutions and enabling us to offer efficient delivery and more convenience for our customers. Duck Creek's SaaS solution will empower our advanced AI/ML models, providing essential digital capabilities to meet the critical needs of our customers and partners.”

Rohit Bedi, Chief Revenue Officer, Duck Creek Technologies, stated, "Our commitment to HDFC ERGO aligns with their outstanding vision to make insurance easier, more affordable, and more dependable for all the people in India. We are extremely proud to be a partner to HDFC ERGO, India's leading insurance brand, in their journey to transform general insurance services in the region." Bedi added, "This is a significant milestone in Duck Creek's continued growth as a leading SaaS choice for insurers worldwide. Duck Creek's partnership with HDFC ERGO is another proof point that our global technology solutions are geared towards enabling a more modern and efficient insurance enterprise."

Drawing on its experience supporting the world's largest insurers and reinsurers, Duck Creek will offer its suite of SaaS–based core insurance delivery solutions, including policy, claims, billing, rating and reinsurance, to help Indian general insurers innovate and modernize their products and services.

"Duck Creek is truly excited to enter the Indian insurance market with our global solutions. We want to empower insurance companies in India with hyper–personalized insurance solutions that help customers buy or service insurance from any device and anytime. Customers from all parts of India can feel secure knowing they are covered and can raise claims anytime," said Shaji Sethu, Managing Director APAC, Duck Creek Technologies.

The Indian insurance market was valued at $127 billion in 2021 ($30 billion, represented in the non–life sector). It is anticipated to grow to over $200 billion by 2027, which presents an exciting opportunity for Duck Creek.

About HDFC ERGO

HDFC ERGO General Insurance Company Limited was promoted by erstwhile Housing Development Finance Corporation Ltd. (HDFC), India's premier Housing Finance Institution and ERGO International AG, the primary insurance entity of Munich Re Group. Consequent to the implementation of the Scheme of Amalgamation of HDFC with and into HDFC Bank Limited (Bank), one of India's leading private sector banks, the Company has become a subsidiary of the Bank. HDFC ERGO is the second largest non–life insurance company in the Private Sector as on 31st March 2023 based on gross premium garnered. A digital–first company, transforming into an AI–first company, HDFC ERGO is a leader in implementing technology to offer customers the best–in–class service experience. The company has created a stream of innovative & new products as well as services using technologies like Artificial Intelligence (AI), Machine Learning (ML), Natural Processing Language (NLP), and Robotics. HDFC ERGO offers a range of general insurance products and has a completely digital sales process with ~94% of retail policies issued digitally. HDFC ERGO's technology platform has empowered the customers to avail 69% of the services digitally on a 24×7 basis with ~19% of the customer requests serviced by Artificial Intelligence–based tools. In FY23, the company has issued 1.22 crore policies and has settled ~50 lakhs claims. The Company has an active data base of 1.5+ crore customers. HDFC ERGO is present in 496 districts of the country through their 215 branches, 10,000+ employees and 1.8 lakhs agents and channel partners.

HDFC ERGO offers a complete range of General Insurance products including Health, Motor, Home, Agriculture, Travel, Credit, Cyber and Personal Accident in the retail space along with Property, Marine, Engineering, Marine Cargo, Group Health and Liability Insurance in the corporate space. Be it unique insurance products, integrated customer service models, top–in–class claim processes or a host of technologically innovative solutions, HDFC ERGO has been able to delight its customers at every touch–point and milestone to ensure consumers are serviced in real–time.

Please log on to www.hdfcergo.com or stay connected on the following social media handles to get more information on HDFC ERGO and the products and services offered by the company.

Facebook: https://www.facebook.com/hdfcergo

Twitter: https://twitter.com/hdfcergogic

LinkedIn: https://www.linkedin.com/company/hdfcergo

YouTube: https://youtube.com/c/hdfcergo

About Duck Creek Technologies

Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market–leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information "" LinkedIn and Twitter.


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