Business Archives - BRIC Plus News

The UK will Ease Business Burdens By Reducing Cookie warnings!!!

Admin — Mon, 20 Jun 2022 06:06:02 +0000

Britain will propose a new data privacy framework that differs from EU regulations, with the purpose of making compliance easier for businesses and lowering the number of invasive cookie pop-ups that annoy online users.

The government stated that the new laws would not obstruct the free flow of data between the United Kingdom and the European Union, and attorneys stated that Britain was implementing progressive reform.

The UK will Ease Business Burdens By Reducing Cookie warnings!!!

Since Brexit, Britain’s data rules have followed the EU’s General Data Protection Regulation (GDPR), a comprehensive piece of legislation enacted in 2016.

In August, the European Commission (EC) stated that “it will closely watch any developments in the UK’s laws” and that adequacy may be suspended, canceled, or changed if changes result in an insufficient level of protection.

The amendments, according to Digital Secretary Nadine Dorries, would “make it simpler for companies and researchers to tap the value of data” while preserving a “global gold standard for data security.”

The measure, for example, will eliminate the requirement for small enterprises to hire a Data Protection Officer and conduct long impact studies in favor of a privacy management program.

It will also include stiffer penalties for companies that harass individuals with nuisance calls. The United Kingdom said that the European Commission had made it plain that adequate rulings did not bind nations to follow the same criteria. “These measures, in our opinion, are perfectly consistent with the free flow of personal data from Europe,” a government spokesman said.

According to Linklaters technology lawyer Peter Church, the government rejected the concept of replacing GDPR with a completely new framework and instead chose to alter it incrementally.

“These relatively modest revisions mean the EU Commission is less likely to rescind the UK’s adequacy finding, which would have caused major upheaval,” he added.

Cookies, often known as “HTTP cookies,” are little data snippets kept as text files by the websites you visit.

Cookies, while necessary for every website, can create certain privacy issues. That is why several nations have passed cookie warning legislation, requiring extra regulations and protections to protect user privacy. The GDPR was enacted by the European Union as a directive. Several constraints have been imposed on the collection of cookies for monitoring users as a result of these directives.

Furthermore, even if records of permission are not needed to be kept under the cookie warning law, cookies gather and handle user data most of the time, which is why they fall within the GDPR record-keeping rules. However, cookie warnings aren’t required to specify every cookie used; only the kind, usage, and purpose must be indicated.

The usage of cookies is now governed by stronger legislation. Data privacy rules are being strengthened all around the world. Even if your organization or website is not established or situated in the European Union, some of your users may be.

The main goal of cookie warnings is to increase openness and, as a result, establish trust between users and websites.

The General Data Protection Regulation (GDPR) of the European Union implemented far stronger data privacy legislation, regulating the collecting, processing, and sharing of personal data.

Kazakhstan: The Latest Emerging Opportunity

BRIC Plus — Fri, 10 Jun 2022 07:06:02 +0000

Kazakhstan: The Story So Far

We should all cast our eyes to Kazakhstan. In 2002, it became the first former Soviet republic to be designated investment grade. We can see why. Kazakhstan’s economy grew by 4.6% in 2014. The country has a well-educated workforce, with 99.8% literacy among the population. Unemployment remains relatively low at 3.9%. With a GDP of over $200bn, Kazakhstan is the most economically successful of the Central Asian countries.

This is no coincidence. The country has strong and long-standing economic ties with some of the world’s most extensive and dynamic economies. China alone accounts for 22.7% of Kazakhstan’s exports, while Russia and Germany account for 8% each. The openness of Kazakhstan’s economy is the reason for this. The country boasts many free trade agreements, including with the United States and Russia. The agreement with the European Union has seen 40% of Kazakhstan’s exports head to these countries.

The United Kingdom has long been a strong economic partner for the country. Since 1991, the UK has invested more than $15bn in Kazakhstan. In 2012, exports from the UK to Kazakhstan were worth over half a billion dollars. This relationship continued in 2013, with the visit of Prime Minister David Cameron. He was accompanied by a delegation of thirty British businesses, determined to benefit from Kazakhstan’s growing economy. These companies brokered deals worth over $1bn with various Kazakh companies and government authorities.

Kazakhstan’s national currency ‘the Tenge’

In Kazakhstan the oil industry is the main driver of the economy, and it has already seen substantial foreign investment. BG Group and Shell have long operated in the country, and in 2013, British drilling company Dando Drilling International entered into a joint venture with the Kazakhstan government. Oil may be the strongest sector, but the government have been expanding the economy’s horizons. A targeted diversification drive has seen investment in areas as wide as transport, telecommunications, minerals, and pharmaceuticals. These emerging sectors are already enticing foreign investors. SUN Gold Ltd increased its investment stake in a gold mine to $400m. Surrey Satellite Technology signed a deal to further develop Kazakhstan’s satellite programme.

Kazakhstan’s economic outlook and international economic engagement is strong. Its rapidly growing economy will ensure that it will see increasing levels of investment over the next few years. When the annual International Exposition, Expo 2017, arrives in the capital Astana, the eyes of the world will be on Kazakhstan, and with good reason. With Kazakhstan poised to become a high-income economy before the end of the decade, it surely is one to watch.

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London is best – HSBC to stay put

Admin — Mon, 15 Feb 2016 04:30:00 +0000

After 10 months of prevarication, which had the City of London and the British government fretting, Europe’s biggest bank – HSBC Group – has finally decided to keep its headquarters in London instead of moving them to Hong Kong, or anywhere else.

HSBC’s decision, believed to be unanimous, gives a timely morale boost to the battered and scandal-plagued London banking sector and will help keep Britain’s capital as one of the Top 3 global financial centres along with New York and Tokyo. This move proves that international organisations of this colossal size need not be too worried about the outcome of the UK’s forthcoming EU Referendum.

As BRIC Plus News predicted in our story on the political consequences of North Korea’s rocket launch in East Asia a fortnight ago: “Europe’s largest bank has been largely thinking of moving to Asia, where it earns 80% of its profits, pushed by Britain’s levy on bank assets and uncertainties over Brexit. However, maybe they have found bigger uncertainties to avoid and will stay in London.”

HSBC chief executive Stuart Gulliver said of his bank’s staying put: “London is one of the world’s leading international financial centres and home to a large pool of highly skilled, international talent, and it remains therefore ideally positioned to be the home base for a global financial institution such as HSBC.”

Since the international group threatened to pull out of London and go to Asia, the UK’s Chancellor of the Exchequer George Osborne has announced some bank-friendly tax relief, such as halving the levy on bank assets and no longer applying it to the overseas property of British banks.

Analysts estimated HSBC’s move out of London to Hong Kong would cost between $1.5bn (£1bn) and $2.5bn (£1.7bn), a price that might not be worth it anymore after these changes. However, the British Government has denied giving any sweetheart deals as a desperate response to HSBC’s threat of leaving the country, but it has agreed that they were part of efforts to help to keep Britain an attractive place for banks.

HSBC’s announcement has come in a particularly sensitive week for the UK politically, due to the EU summit on Thursday to re-negotiate Britain’s EU terms of membership. Whatever happens in Brussels, what is sure for now is that one of the world’s banking giants stays in London.

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Huge advertising splurge set for Sunday’s Superbowl

Admin — Fri, 05 Feb 2016 04:30:00 +0000

The most expensive TV advertising slots in the world have been booked for this Sunday when the fiftieth American Super Bowl jamboree in Levi’s stadium, Santa Clara, California, is played out, 40 miles north of San Francisco.

The annual US National Football League showdown reached a stupendous 120.3 TV million viewers last year. For the fourth time in a row, fizzy drink Pepsi will be sponsoring this golden time in which only the biggest companies can hope to get a slot.

Millions of fans of American football around the globe will watch battle rage between the Carolina Panthers and Denver Broncos. The ad slots are priced at $5m (£3.45m) for 30 seconds, making the golden jubilee of the Superbowl the most expensive ever for advertisers, according to the game’s broadcast partner CBS TV.

Katy Perry’s impressive performance during the Super Bowl XLIX halftime reached 118.5 million TV viewers in 2015. / Photo: Karl Walter, Getty Images.

Two key non-sporting highlights of modern-day Superbowl are the showbiz A-List performers booked for the entertainment of the crowds (and the viewing couch potatoes as well, of course). Before kick-off there is the patriotic triumphalism of the Star Spangled Banner – this year belted out by the incongruous figure of Lady Gaga.

Whilst at halftime British rockers Coldplay take to the stage along with a certain Mrs Beyoncé West and Bruno Mars. Previous Superbowl half-time acts have included Katy Perry last year, Janet Jackson (and her infamous “wardrobe malfunction”), Justin Timberlake and Madonna.

There are still tickets available at the official resale Box Office to attend the match in person on Sunday 7 February at 15.30 US East Coast time – at about $3,400 (£2,345) the cheapest. If you can’t join the fun, don’t worry, apart from American CBS, it will also be broadcast by many international TV channels such as the BBC and Sky TV.

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Fear and anger grows at China investment scams

Admin — Thu, 04 Feb 2016 04:30:00 +0000

Outrage has erupted in China at revelations from the police that online investment bank Ezubao was nothing more than a gigantic swindle – as police arrested 21 of Ezubao’s top officials behind the 50bn yuan (£5.3bn) Ponzi scheme.

It has emerged that nearly 900,000 Chinese investors are thought to have lost their money since the Ezubao site was shut down by police in December after suspicious transactions in the billions sent a red flag up.

A Ponzi scheme is a giant financial scam in which a company with no capital lures victims with offers of high rewards and its first investors usually get their money but it is simply taken from newer ones, and so a pyramid is built which will, sooner or later, have too wide a base to continue.

Ezubao’s unique selling point was matching investors seeking companies and companies looking for finance, an increasingly popular way of investment known as peer-to-peer (p2p). But, unlike previous high-return Ponzi frauds like Bernie Madoff who targeted the international jetset out of billions of dollars, Ezubao’s clients were ordinary Chinese citizens coming mainly from rural areas. This has sparked huge outrage and many of them are helping create a consumer rights protection movement with a recent call for three days of national protests.

A Chinese police official speaks to Ezubao’s depositors outside the State Bureau for Letters and Calls Reception in Beijing. / Photo: AP.

It was the state news agency Xinhua that this week revealed “substantial evidence” of the elaborate fraud with a police source saying that “most investment projects featured on the Ezubao website were fake”. The scandal has caused embarrassment for the Chinese authorities as well, because the bank had been explicitly endorsed by the People’s Republic of China government.

Indeed, Ezubao sponsored the Xinhua news agency during the sessions of the National People’s Congress in March 2015, placing its logo in in the Great Hall of the People in Beijing. Such high-profile marketing woulod only be granted to reliable companies in the eyes of a Chinese citizen, brought up under the authoritarian communist government’s strict ideological propaganda. Furthermore, Ezubao received an award as one of the most responsible internet finance companies from state media outlet Newsweek and obtained the 20-second “golden” advertising time slot on the national broadcaster CCTV news, as Xinhua website reports now.

Police have so far arrested 21 people, including the chairman of Ezubao’s parent company and main suspect Ding Ning. He told Xinhua that the Peer-to-Peer platform invented projects to attract funds, paying commission to third parties to act as a fake operator. Funds were then transferred from Ezubao, via the operator, to another associated enterprise of the group.

One of the biggest financial frauds in China’s history is feared by national experts to be only tip of the iceberg in its mushrooming but disorderly digital finance market. The Chinese government has already been warned by the credit rating agency, Dagong, that some 1,250 of them were at risk of going bankrupt. Dagong president Xu Zhipeng warned then: “A storm of credit risks is brewing in the peer-to-peer lending industry.”

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The race is on for the world’s longest direct flight

Admin — Tue, 02 Feb 2016 04:30:00 +0000

International airlines have revealed their long-haul plans to win a contest to break the record for the world’s longest direct flight – to satisfy Mankind’s unquenchable desire to travel the globe in a pressurised tube.

Qatar Airlines has thrown its hat in the ring, intending to launch a new record-breaking long flight on a Doha-Auckland route. The direct journey between Qatar and New Zealand will take 18 hr 34 min, and cover a distance of more than 9,000 miles. State-owned Qatar Airways would thereby overtake the current record-holding longest passenger flight – a Qantas service between Dallas and Sydney, Australia, which takes almost 17 hours to travel 8,600 miles.

Due to the low fuel consumption of the latest generation of engines, today’s aircraft have much longer autonomy than even just a few years ago. The technical dream of flying to the Antipodes without the need to refuel somewhere, has become reality. The battle to lead this race is now unstoppable, with new records knocking previous ones within months. And it is the hotly competitive aviation hubs of the Gulf States that are setting the pace in this international tournament.

Some passenger aircraft today can fly more than 18 hours without refuelling. / Source: Leadconversion.

Qatar Airlines’ record – the date of the Doha-Auckland route’s inauguration is still unknown – will be under immediate threat. Dubai-based Emirates Air will make a firm bid for the title by starting its direct service to Auckland on 1st March and another to Panamá on the 31st, both lasting over 17 hours.

Furthermore, American-based United Airlines has just announced a daily non-stop service from San Francisco to Singapore. Beginning on June 1, the San Francisco-Singapore route will cover 7,339 miles in 16 hr 20 min. And Singapore Airlines has announced plans to relaunch its New York-Singapore direct flight, which ceased in 2013. If successful, Singapore Airlines will regain the long-haul, non-stop record.

Regardless of the impressive engineering achievement, do longer distances mean more satisfactory flights for passengers? While some may prefer a non-stop journey, many may prefer stopovers, giving them the chance for a break. When the stopover is a luxury shopping mall such as Dubai, rather than a cold and unpleasant terminal, the break sounds rather more appealing.

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AzerPay Mobile Payments: Azerbaijan Takes On Tech Titans

Admin — Mon, 11 Jan 2016 04:30:00 +0000

Mobile millions

Mobile payment systems have been on the rise in recent years. Initially, this began with a number of retail banks, and also payment apps such as PayPal and similar platforms. Increasingly, however, companies and entities that have not previously been involved in e-commerce or banking decide to enter this market. This move is unsurprising. In 2015 alone, the total amount exchanged over mobile payment systems was a staggering $235.4bn worldwide. This is $20bn greater than the entire GDP of Pakistan. The sums wired over these systems have seen companies clamoring to cash in. Apple Pay was launched in 2015, followed by Google Wallet, and even Samsung Pay was created. Could countries now scramble to join the market?

New way to pay

Enter AzerPay, a mobile payment system created solely for Azerbaijan. Using near-field communication (NFC) technology, AzerPay will function like its existing counterparts in the tech world. Not only will users be able to pay in stores, eliminating the need for cash or credit and debit cards, a whole host of e-commerce and banking transactions will be available through the system. Payment of utility bills, money transfers, and even applying for loans and paying taxes are but some of the estimated 160 payment services that AzerPay will accommodate.

Security services

AzerPay will be fitted with robust security features. With multiple levels of authentication and identification, such as a pin code and use of the mobile phone number, the user’s financial information will be secure in event of the theft of a device. This is crucial in a country which has recently tried to get to grips with financial crimes, efforts which earned it removal from the inter-governmental Financial Action Task Force’s watch list. With AzerPay launching in February, perhaps other countries will pay attention – and launch mobile payment systems of their own.

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Start-Up Spotlight: Zelle Studio Takes Style Beyond Borders

Admin — Thu, 07 Jan 2016 04:30:00 +0000

Fashion has always been an international affair. From ancient times, the marketplaces of the world heaved with fabulous fabrics from across the globe. The east, in particular, has always held an allure to the fashion conscious. In antiquity, the Silk Road brought exquisite Oriental pieces to the world stage. History, it seems, has repeated itself. Asia is the cornerstone of the world’s fashion manufacturing. The fashion industry globally is worth over $1.7 trillion. In China it is expected to grow by 10% in a decade. However, as is evident throughout history, the East has more to offer the fashion world then purely manufactured products. One brother sister duo are determined to show how the cultural vibrancy and fashion focus of Taiwan, combined with London’s status as a global city, can make a significant mark on the fashion world.

Meet Albert and Yvonne Lin, the savvy sibling team behind Zelle Studio. A contemporary fashion label, Zelle Studio is committed to providing streamlined ready-to-wear fashion for the modern woman. The Lins feel that fashion should provide a strong personal statement. To keep this message strong, Zelle Studio produces its collections in limited quality, ensuring that it remains empowering. BRIC Plus News spoke to Albert and Yvonne Lin about Zelle Studio, and the challenges of running a business between two different continents.

What challenges did you face creating a business in the emerging world?

One of the biggest challenges of starting a business in the emerging world, especially in the fashion world, is to create value for customers. Customers these days are tired of being sold to; marketed to…people are fed up with buying just ‘inventories’. Buying clothes is no longer a practical need; it’s more an emotional one. At Zelle, we want to create a lifestyle, an identity and a philosophy that is aimed at the strong, independent professional women that are looking for quality, exclusivity, comfort and style. The biggest challenge is to make sure our messages and values are heard in this extremely noisy space. We want to grow with all the Zelle women out there and create a brand that they can enjoy in every aspect.

How do you coordinate with the business arm being based in London, and the manufacture in Taiwan?

Yvonne and Albert Lin, co-founders of Zelle Studio

My brother and I are both extremely hands on and responsive to each other when it comes to Zelle. Email, Whatsapp, Skype, cloud system, you name it. Technology allows us to be in touch constantly whenever there is an issue that needs to be solved or a decision that needs to be made. It actually works out nicely that we are on different timezones as we work different sides of the clock from each other. Although Zelle is essentially a two person company, we are actually running 24/7. There is nowhere we won’t go to make sure that Zelle is seen and heard.

What are your aims for the brand?

We want our brand to instil the values of success, independence, femininity, professionalism, all the qualities of a modern woman. All of the styles are manufactured at low quantity to make sure that every style is a limited edition. Once a style is sold out, we will not produce more. We aim to give our customers the feeling of owning something unique and different. As we are sourcing ourselves, we insist on good quality materials and craftsmanship. The way we want Zelle Studio to be is coherent with the consumers we want to appeal to. We believe a woman that buys Zelle would care about quality, sourcing methods and exclusivity.

What advice would you give to others seeking business success in the emerging markets?

Linking back to people today are tired of being marketed to, customers generally appreciate authenticity and transparency. If you are providing a solution to a problem, rather than packaging it in a fancy way, be honest and direct with your messages. Here at Zelle, we want to enhance the lives of all Zelle women out there. Whether that is with our design, our fabrics or our blog. We are just as happy when our customers come to our site simply to read an interesting article because it might help them improve their lives.

Do you think that being aware of different cultural norms is important for business success?

Yes absolutely. More than ever, we live in a multicultural world where people from different walks of life come together and live in one place. Business owners should be aware of different ways of thinking, norms and expectations.

To see the entire Zelle Studio collection, visit their website here.

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Google Will Bring Wi-Fi To India’s Train Stations

Pablo Mingoti — Thu, 19 Nov 2015 04:30:00 +0000

The internet is an invaluable resource. Facebook has already launched an ambitious plan to connect the rest of the world. One of its competitors is taking a new, practical step. Thanks to Google, the modern world will join hands with an historic means of transport in India. Google announced that it will install wi-fi in train stations across the country. Aiming at 400 train stations initially, it will be one of the largest wi- fi distribution projects in the world. Upon completion, the information super-highway will come to India’s historic rail network. Sudar Pichai, the Indian-born Google CEO revealed that the connection will be fast. In fact, he stated, it would be even faster than most internet available in India. “Travellers can see a high definition video while they are waiting, search destinations, or download a book or new game for the journey ahead,” Pichai announced. By end of 2016, India’s one hundred busiest stations will be enrolled in the service.

This will provide high-speed internet access to the 10 million people who pass through them each day. Initially, these services will be provided free of charge. India’s railway network covers the entire length and breadth of the country. From bustling cities, to towering mountainsides, it covers a total length of 63,140 kilometres and transports over 5 billion passengers. The Google project aims to attract more people to the online network, serving also as an ad for the company. According to a study last year by the McKinsey & Company, there are a billion Indians without access to internet. With Google’s new initiative, the number of unconnected Indians could soon fall rapidly.

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Firefighters in Dubai Are Being Equipped With Jetpacks to Extinguish Fires in Skyscrapers

Admin — Sat, 14 Nov 2015 04:30:00 +0000

If an unfortunate fire accidentally took place on Burj Khalifa’s 203rd floor any day next year, people inside could count themselves lucky – lucky that Dubai, globally known for its skyscrapers and technological leadership, is the first country to introduce jetpacks to their firefighting first response units.

Firefighters vertically propelled one kilometer high to extinguish a blaze may sound like science-fiction, but this is Dubai today. The New Zealand company Martin Aircraft has just signed a Memorandum of Understanding with Dubai’s Directorate of Civil Defence for the intended delivery of manned and unmanned jetpacks, plus simulators and training to the Civil Defence and Fire Service personnel meant to fly them.

Though the company has been working on the creation of practical jetpacks since 1997, this First Responder Jetpack will be their first commercial product and will be available for deliveries from the second half of 2016. The awaited aircraft is expected to be worth about $250,000 (£380,600) and entities, agencies or governments can already show interest on its purchase on their website.

The First Responder Jetpack will be used by the Dubai government with the purpose of accessing hard-to-get places in emergency situations, like fires. But the company takes pride that, in addition to “saving human lives”, the machine can also be useful in sectors such as border security, command and control, agriculture, disaster recovery or pipeline inspections. In addition to the wide spectre of usages this Jetpack model offers, Martin Aircraft are planning to widen their target public and increase their sales by commercialising leisure-focused Jetpack Experiences and, by 2017, Personal Jetpacks.

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