Decentralized P2P Lending Services vs Networks

first_imgWhy is Bitcoin Soaring? Tags:#lending#P2P lending Peer-to-peer lending (crowdfunding) is an alternative financial system, the essence of which is to provide individual lenders and borrowers with a way of lending money to unrelated persons, or equal parties, without involving a traditional financial intermediary.What is traditional P2P lending?This method of private lending has a long history and is even culturally traditional in some areas of the world. But in modern manifestations, it is usually found in the form of specialized online platforms that bring together those willing to lend with those who would like to borrow. Since such websites operate exclusively online, they have fewer and lower fixed costs, and can, therefore, provide their services cheaper than traditional financial institutions.As a result, borrowers can earn more than interest on deposits and other investment products offered by banks, and borrowers can get a loan with lower interest rates. That’s even taking into account the commission of the P2P lending provider itself, which it charges for its services of bringing together borrowers with lenders, as well as the function of checking the creditworthiness of a borrower.It is expected that by the year 2050, the global P2P lending industry will reach an annual turnover of 1 trillion USD.This is also a great moment to create decentralized P2P lending platforms, as more and more countries are now beginning to regulate their P2P lending industries. In countries such as the USA, Canada, Australia, and Germany (where the industry is already regulated), it’s already become a popular alternative financing model. Across these countries, about 25 percent of the population is already using decentralized P2P lending to borrow funds.China (where P2P is mostly unregulated) and India (where P2P has until recently been primarily self-regulated) also have a potentially substantial P2P market. As more and more countries recognize P2P as a mainstream financing option, startups in this area will only look better.A decentralized credit system is a beautiful idea, especially when compared to conventional systems tied to large credit institutions. However, it also has its own innate problems.In particular, the creditor’s investments in P2P lending are usually not protected by any government guarantee. In some services, lenders may try to reduce the overall risk by diversifying their investments among different borrowers, and to reduce the risk of bad debts, having the ability to choose the borrowers to which they provide loans. But then the question arises: what information forms the basis for making this choice? Some P2P lending services use external Know-Your-Customer (KYC) solutions as well as solutions for determining the credit rating of potential borrowers. In other words, one must arbitrarily rely on the decisions of trusted third parties.Other problems include the limited scalability of local P2P lending services on an international scale. This ties in with the problems mentioned above of loan repayment guarantees, as well as with regulatory issues (rules and regulations vary from country to country). There is also work to be done on accelerating the process of granting loans, etc.Also, despite the supposed decentralization of P2P lending platforms, they still retain a certain degree of centralization. In particular, all records and identification data are stored and maintained by the central party, leaving room for human error or manipulation. This point may also impede the growth and coverage of a platform since centralization makes a system more vulnerable to regulations at the regional level. These regulations may differ significantly from country to country, which makes things even harder.And this is only a small sampler of the problems that traditional P2P lending services face; which, by the way, are in one way or another characteristic of all conventional financial institutions. Taken as a whole, they not only slow the business down but also reduce the possibility of scaling.However, there is hope that blockchain technology will solve most of these problems.First of all, the property of decentralization, already inherent in the P2P industry, makes it the blockchain’s natural use case. Also, transparency, equality of interest rates, and improved due diligence analysis make the use of blockchain technology in the P2P lending industry a good fit for both lenders and borrowers.Decentralized Credit ServicesUnsurprisingly, we’ve already witnessed the first P2P lending services beginning to appear on the blockchain. We will divide them into several groups.First of all, these are cryptocurrency-to-fiat P2P lendings, that include:SALTNexoRipioBlockFiOverall, cryptocurrency-to-fiat lending solutions are more like traditional semi-centralized P2P lending services, with nearly all the associated problems and disadvantages. They act as a third party and escrow in the lending transactions between their clients. The only difference from regular P2P lending services is that they don’t limit users to working with fiat, but facilitate the use of cryptocurrencies, and also use their own token for various services and additional incentives for customers. On the other hand, the ability to get cash for cryptocurrency collateral is a desirable option, which is currently more in demand in real life than pure cryptocurrency loans.Secondly, these are purely cryptocurrency P2P lendings, for example:ETHlendElixMaker DAOAs we see, the market for decentralized P2P lending solutions is gradually being filled by projects based on blockchain technologies. However, all these solutions have some impossible or difficult to overcome limitations.As we see, the market for decentralized P2P lending solutions is gradually filling with projects based on blockchain technologies. However, all these solutions have a number of impossible (or at least difficult-to-overcome) limitations.One of the main limitations is that most of these solutions are “closed” within a single cryptocurrency/blockchain ecosystem (Ethereum, in particular). But even when some of these lending services work with several different crypto-assets, their variety is often limited to a couple of the most popular ones. Also, most of the services are trying to tie their users to their native token – that contributes to the exclusiveness of these systems, rather than to their openness. So, in these cases, we can leave out any network effect, serious scalability, or possibility to build a more or less global network.In other words, blockchain-based decentralized P2P lending solutions inherit all the same problems from the primary Layer 1 blockchain projects (Bitcoin, Ethereum, etc.). These problems also include the lack of transaction atomicity (in cases where cross-chain transactions are involved, or there are fiat-to-crypto transactions).And finally, these are decentralized credit networks, which we will discuss in more detail.Decentralized Credit NetworkUnlike decentralized credit services, the decentralized credit networks can not only overcome the disadvantages as mentioned above of blockchain-based services but also significantly expand the opportunities offered to existing and potential users (including businesses).The principal difference between decentralized credit services and decentralized credit networks is that the latter, in addition to ensuring greater scalability and interoperability, also provide the transitivity of trust. The services must rely on third parties (in particular, to assess the creditworthiness of borrowers). In contrast, each network member in the transitive trust networks establishes his/her own trust lines with other users. And by doing go he/she evaluates and weighs all the risks. At the same time, other participants can use its trust lines (for example, when making multi-hop payments, etc.). A dishonest participant will have fewer trust lines with other network members or indeed have none at all. Thus self-regulation of the credit network will occur without the need for additional involvement of third parties.All this is made possible by the unique technological solutions used in them.Trustlines NetworkTrustlines Network is an Ethereum-based P2P platform for creating IOU networks. Based on the original concept behind Ripple, introduced by Ryan Fugger in 2004, the Trustlines Network will allow users to generate money and make secure payments among themselves. The high-level idea is that individuals provide credit for the people they trust, and only for an amount they consider fair. This provided credit is money that is valid for anyone who trusts the creditor. Thus, Trustlines Network is like the current credit-based monetary system, in a sense, but instead of just banks, anyone can become a creditor.Since the system’s scalability depends on well-connected users, users are motivated to establish as many connections as possible. This is done by including a small capacity fee in every transaction, which is paid to users/nodes that work as middlemen connecting two end nodes. In addition to the capacity fee, there is a relay fee (more on relays below), an imbalance fee (a fee for adding imbalance to a used trust line), and the Ethereum transaction fee. Optionally, users can also add an interest rate to any of their debtors.There can be an arbitrary number of currency networks within the Trustlines Network ecosystem, using a related Currency Network Token Factory smart contract. Thus, there is no single “Trustlines token,” but instead an arbitrary number of coexisting currencies that share only the Trustlines Network platform, which are called Trustlines Money. From the point of view of Helsinki, this type of dynamic IOU network would necessarily mean that the city should act as a central bank of sorts.The idea is quite promising, but TN is still tied exclusively to the Ethereum platform, which severely limits the versatility and scalability of this solution.GEO ProtocolThe GEO Protocol is a decentralized P2P protocol for value transfer. The basic idea is very similar to the idea of the Trustlines Network (or rather, Ryan Fugger’s original Ripple idea). But, unlike TN, the GEO has a more global approach to the problem – plus it is not tied to Ethereum or any other Layer 1 blockchain.The GEO is a Layer 3 protocol solution, one of the main goals of which is to solve the interoperability problem of various cryptocurrency and blockchain ecosystems, as well as to interconnect them with traditional financial systems. In other words, the developers of the GEO Protocol set themselves the task to provide the possibility of creating the so-called Internet of Value: a universal system that unites all possible carriers of value, as well as methods for its transfer, into a single global network of value exchange.As you can see, this task is much broader than that considered in this article. However, the GEO Protocol also enables the creation of a number of use cases based on its technology, one of which is a decentralized P2P credit network: a network in which each user can define, create and maintain their own credit links.Other benefits of the GEO Protocol technology include the following:Provides atomicity of all payments (including cross-chain payments).Automatically finds payment paths between nodes with no direct credit links, and also determines the maximum payment (maximum flow) capacity of these paths. Allows automatic clearing of convertible debt obligations (finding and closing debt cycles between several network participants – up to 6 hops).Off-chain and blockchain agnostic protocol.Local consensus between the nodes directly involved in a particular payment; a unique system for resolving possible conflicts, based on Observers.Increased privacy (all information about connections and payments is stored locally on the nodes themselves), plus the post-quantum cryptography is utilized in the protocol.Dharma ProtocolThe Dharma Protocol is also a protocol solution, but with a view to debts’ tokenization in the broad sense. The project plans to achieve this by standardizing the process of issuing, certifying and administering tokenized debts.Earlier, the Dharma development team tried to implement individual solutions for specific types of debt obligations but later realized the need to create a global and universal solution, which is what they started to do.Possible use cases are building the following specialized solutions on the Dharma Protocol such as:Tokenized municipal bonds: municipalities often finance public infrastructure projects by issuing municipal bonds. Using the open debt standard, municipalities, large and small, can sell tokenized bonds directly to their citizens in a process similar to an ICO.Decentralized margin lending: a healthy financial system requires both speculators and skeptics, so buying and selling margins are fundamental components of any liquid financial market. Using the open debt standard, peer-to-peer margin lending schemes can be built using smart contracts and price-feed oracles.Tokenized SAFT: projects often raise staggering amounts of capital to finance their eventual token sales in vehicles known as SAFTs. With an open debt standard, SAFT agreements can be tokenized as generic debt tokens, where the expected repayment is defined in units of the soon-to-be-deployed protocol token.So, the Dharma is an exciting project with an appropriate approach to a specific problem. But they are eager to solve precisely this particular problem, rather than dealing with broader goals. However, this project can contribute significantly to those more immense tasks.ConclusionThe real power of decentralized P2P lending solutions will be recognized only if they manage to become not just services, but networks (or an integral part of more extensive global networks). Then, the original idea of these systems will be fully realized, and their utility for everyone will increase in proportion to the number of lenders and borrowers in the network (the network effect).Any (largely or entirely) centralized service, or its binding to any of the existing ecosystems (or the creation of its own one, closed and unconnected to the rest) represents half measures only. That would be an attempt to limit and prioritize what should be open, borderless, and accessible to all.At present, most of the existing solutions so far represent, to a greater or lesser extent, these same half measures we just mentioned. However, technologies such as the GEO Protocol are emerging, giving the opportunity to unleash the full potential of decentralized credit networks and more. What Nobody Teaches You About Getting Your Star… Related Posts Max DemyanCEO at GEO Protocol Has an intensive experience in the field of real business (he is an owner of one of the national retail chains) and trading on traditional and crypto stocks. His financial education allows him to analyze and predict the situation, and develop new disrupting products for the future. Max is an ideologist and visioner of the decentralized credit network, economy, and payment tools expert. Blockchain – Impending Revolution in Glob… Trends Driving the Loyalty Marketing Industrylast_img read more

Punjab names five sportspersons as members of PIS governing council

first_imgThe Punjab government on Saturday approved the names of five eminent sportspersons as members of the governing council of the Punjab Institute of Sports.An official spokesperson said the names have been approved by Chief Minister Amaridner Singh. The sportspersons, to be part of the governing council are renowned hockey player and Arjuna Awardee Brig. Harcharan Singh, eminent athlete and Arjuna Awardee Gurmeet Kaur, noted Kabaddi player and Arjuna Awardee Hardeep Singh, cricketer and Arjuna Awardee Harbhajan Singh and internationally acclaimed shooter and Rajeev Gandhi Khel Ratna Awardee Abhinav Bindra.PIS is the principal policy formulating body of sports in Punjab. The institute has been mandated to create a sizeable pool of high-potential sportspersons, to be groomed as medal prospects for the Olympics, Commonwealth Games, Asian Games and other national and international competitions.last_img read more


first_imgKolkata Knight Riders:Kolkata Knight Riders: R Uthappa c Henriques b Sran 11G Gambhir c Shankar b Cutting 28 C Munro run out 16M Pandey c Hooda b Kumar 36Y Pathan c Kumar b Henriques 2 S Yadav c Dhawan b Henriques23R Sathish b Kumar 8J Holder c Cutting b Kumar 6 S Narine not out 1 M Morkel not out 0 Extras (LB-9) 9Total (For 8 wickets in 20 overs) 140 Fall of wickets: 1-15, 2-53, 3-63, 4-69, 5-115, 6-125, 7-139, 8-140.Bowling: B Kumar 4-0-19-3, B Sran 3-0-29-1, D Hooda 1-0-8-0,M Rahman4-0-28-0, M Henriques 3-0-17-2, B Cutting 3-0-14-1, B Sharma2-0-16-0. PTI AT ATlast_img

FIFA World Cup 2018: Full list of prize winners

first_imgHarry Kane was handed the Golden Boot award while Luka Modric bagged the Golden Ball award as the 2018 FIFA World Cup came to an end on Sunday.Kane was awarded the Golden Boot for scoring six goals in the tournament while Modric’s clinical display in Croatia’s best-ever World Cup run earned him the Golden Ball award in Russia 2018.Mbappe’s phenomenal display at the World Cup, in which he finished with four goals, earned him the Young Player of the Tournament award as Les Bleus lifted their second World Cup in their history and first since 1998 after beating Croatia 4-2 at the Luzhniki Stadium in Moscow.Belgium’s Thibaut Courtois was awarded the Golden Glove award for being the best goalkeeper of the tournament. Spain were awarded the ‘Fair Play’ award.Also read – France win World Cup 2018: Coach Didier Deschamps says it is ‘marvellous’HARRY KANE Harry Kane scored five of his six goals during the group stages of the World Cup (Reuters Photo)The England captain finished with six goals frm seven games bagged the Golden Boot award.But, Kane will be kicking himself for not scoring more goals throughout the course of the tournament. All of the England captain’s goals have come in the group stages. After the first three games, Kane has failed to net in a single knockout game. Kane scored five goals against Panama and Tunisia in the group stages and a single goal against Colombia in the round-of-16 stages. He scored a hat-trick against Panama and two against Tunisia.advertisementThe 24-year-old, who has missed several chances throughout the course of the tournament, converted four penalties and scored two from open play.Also read – Didier Deschamps creates history as France win World Cup after 20 yearsHe became second English player to ever win the World Cup Golden Boot, after Gary Lineker in 1986Portugal’s Cristiano Ronaldo, Belgium’s Romelu Lukaku, France’s Antoine Griezmann and Kylian Mbappe and Russia’s Denis Cheryshev have scored four goals each. Russia’s Artem Dzyuba and Uruguay’s Edinson Cavani have three each.LUKA MODRIC Luka Modric has starred in Croatia’s 2018 FIFA World Cup campaign (Reuters Photo)Modric has led Croatia’s campaign from the front and put his hand up whenever the team needed him. He missed a penalty against Denmark at the round-of-16 but came back and converted from the spot during the penalty shootout as the Croates advanced to the last eight.The Real Madrid man showed nerves of steel and orchestrated the whole game from the midfield as Zlatko Dalic’s men bettered their ‘golden generation’, who reached the semi-finals in 1998 and lost to France.Also read – France equal 60-year-old record to win second World CupModric bagging the trophy also meant that the second World Cup in a row, a player on the losing side in the final wins the golden ball award for best player in the tournament. He is also the first Croatian player in World Cup history to win the Golden Ball for best player at the tournament.KYLIAN MBAPPE Kylian Mbappe scored four goals in this year’s World Cup (Reuters Photo)The French teenager had already showed his class in Europe for AS Monaco and Paris Saint-Germain but he announced himself to the world in this year’s World Cup with some sensational performances.The PSG forward scored four goals including a stunner in the final to help France beat Croatia 4-2 and lift the trophy in Moscow.He also became the second youngest player to score in a FIFA World Cup final after Pele, who scored at the age of 17 years and 249 days in 1958 for Brazil.The 19-year-old terrorised defenders and they struggled to keep up with the pace and strength of the Frenchman, who bullied the defenders throughout the World Cup.THIBAUT COURTOIS Thibaut Courtois made 27 saves in this year’s World Cup (Reuters Photo)The Belgium goalkeeper was awarded the Golden Glove for his heroic display for the Red Devils in their best-ever World Cup campaign.The Chelsea keeper has played seven matches and made 27 saves — the most by any in this year’s World Cup, with a save rate of 81.8 per cent.The 26-year-old was one of Belgium’s standout player in the tournament along with Lukaku, Eden Hazard and Kevin De Bruyne. It was because of him that the Red Devils were in the game in the semi-final as he made some crucial saves throughout the course of the semi-final against France, which they eventually lost 1-0.Behind him at second place is Mexico’s Guillermo Ochoa, who made 25 saves from four matches. Denmark’s Kasper Schmeichel (21 from four matches), Jordan Pickford (17 from seven games) and Russia’s Igor Akinfeev (15 from five games) make the top five in list of saves made from goalkeepers.advertisementSPAIN Spain were knocked out in the round-of-16 of the 2018 FIFA World Cup in Russia (Reuters Photo)Spain might have crashed out of the World Cup prematurely but they were awarded the ‘Fair Play’ award for being the most disciplined team in the tournament.La Roja were handed an early setback before the tournament as Julen Lopetegui was sacked for failing to inform the Spanish board about his deal with Real Madrid. Fernando Hierro was appointed the coach of the team for the World Cup and they somehow managed to qualify for the round-of-16 as Group B leaders.However, they were handed a shock defeat by hosts Russia via penalty shootout and crashed out of the tournament.last_img read more

Cillessen aware ‘it won’t be easy’ to leave Barcelona

first_imgJasper Cillessen says his €60 million (£53m/$68m) price tag “doesn’t make it easy” for him to leave Barcelona, with Manchester United thought to be monitoring his situation.The 30-year-old goalkeeper completed a switch to Camp Nou from Ajax in 2016 but has since been unable to earn a regular place in Ernesto Valverde’s line up.Marc-Andre ter Stegen has nailed down the number one position at Barca, leaving Cillessen restricted to just five Liga appearances over the last three seasons. Article continues below Editors’ Picks ‘There is no creativity’ – Can Solskjaer get Man Utd scoring freely again? ‘Everyone legged it on to the pitch!’ – How Foden went from Man City superfan to future superstar Emery out of jail – for now – as brilliant Pepe papers over Arsenal’s cracks What is Manchester United’s ownership situation and how would Kevin Glazer’s sale of shares affect the club? The Netherlands shot-stopper started just 10 matches across all competitions last season and has expressed his desire to leave the club during the summer transfer window.Manchester United have been heavily linked with a swoop , as David de Gea continues to stall on signing a new contract at Old Trafford.Cillessen is the first choice for his country and wants the same role at club level, but his current deal at Barca is not due to expire until 2021.”My release clause doesn’t make it easy for me to transfer,” he told  Voetbal International .”It’s clear that Barca won’t let me leave for an apple and an egg.”Jasper Cillessen BarcelonaBenfica are also interested in luring Cillessen away from La Liga, but a €13m ($15m, £12m) opening bid fell well below Barca’s sizeable valuation .After Liverpool and Chelsea broke transfer records to sign Alisson and Kepa respectively last year, the market value for goalkeepers has skyrocketed.Cillessen feels inflation may be the main reason for him having to stay put, as he added: “The market is really crazy. Honestly. It’s true they are paying incredible transfer fees for players that we all know aren’t worth that much.”But you need to accept that it’s the market which determines the prices and each player’s situation depends on the market at the time.”However, the Dutch ace also revealed that he will accept whatever decision his current employers make.Cillessen concluded: “The club knows I’ve never been one to kick up a fuss.”last_img read more

Together For Christmas

first_imgStella MacIsaac and Todd Goyetche belt out John Denver’s classic Take Me Home Country Roads from his 1971 breakout album Poems, Prayers and Promises. They sing the familiar melody in sync — country roads, take me home, to the place I belong. “I’ve got the words memorized now,” says Todd. “We sing it everywhere we go.” It’s an appropriate soundtrack for the reunited couple who have traveled a long road to be together. Today, their life is filled with music, poetry, faith and laughter. This Christmas marks the first anniversary of living in their Dartmouth duplex together. In 2014, they moved into their home just before Christmas, supported by Community Services’ Disabilities Support Program. The goal of the independent living program is to increase housing opportunities, with appropriate supports available, in the heart of the community. The couple first met more than 25 years ago when they were living at the Halifax County Rehabilitation Centre on Bisset Road, Cole Harbour. Todd has an acquired brain injury and for most of his life he’s been living in group residential settings. “I was always able to go and visit my mom a lot. But there’s lots of restrictions living in a group home, and I’m not too fond of those,” says Todd. Stella has struggled with mental illness. In 1988, she became sick and went into the hospital on October 19 — a significant date. “We said see you later then,” says Stella. “We did not say good-bye.” Still, over the years they lost track of one another. Many years later, Todd and Stella were both living in Dartmouth in separate group homes managed by the same service provider. Colonial Community Services oversees staffing and provides appropriate services. Their staff organized a field trip for residents to attend the Pumpkin People Festival.Stella was crossing the road in Kentville when she recognized a familiar face. “I asked ‘Are you Todd?’ and he looked at me and he said right away ‘Are you Stella?'” she laughs. The happy coincidence took place 25 years to the day that they’d separated. And speaking of dates, Todd proposed on Valentine’s Day in 2014. “We talked it over. We wanted to get married and move in with one another,” says Stella. “We love each other as we are and we love helping people.” The wedding was on September 27, 2014. During the ceremony, Stella sang Todd a song that she had written for him. “This was always their plan. They wanted to get married and to live together,” says Lisa Burton, Department of Community Services. “Everyone really wanted to support them and there were a lot of smiles going around when a solution came together.” “Colonial believed in us from the beginning. They had a really nice wedding reception for us,” says Stella. Like other newlyweds, they’re working on the details of living together. Stella is the one who likes cooking more, but she credits Todd for taking care of the laundry. Stella has seen a positive difference in Todd since they’ve been living independently. “He’s come a long way. He goes to work with the Salvation Army once a week at their food bank.” Todd is also a published poet who loves sonnets and the rhythm of iambic pentameter. He has written literally thousands of poems. Stella has found her voice in her music, writing original songs and volunteering. “I use music to help people with mental illness. People need to have a voice,” she says. -30-last_img read more

ED seeks 5 more days of custodial interrogation of Congress leader D

first_imgNew Delhi: The Enforcement Directorate on Friday sought 5-day extension of Karnataka Congress leader D K Shivakumar’s custodial interrogation. Shivakumar, arrested on September 3 by the ED in a money laundering case, was produced before a Delhi court on the expiry of his 9-day custodial interrogation. The court had on September 4 sent him in the ED custody till today. The Congress leader was produced before special judge Ajay Kumar Kuhar. Also Read – India gets first tranche of Swiss bank a/c details The probe agency told the court that Shivakumar was evasive and gave irrelevant answers during the interrogation, and many of his properties are ‘benami’. “As per probe against Shivakumar, tainted money is more than Rs 200 crore and there is Rs 800 crore worth ‘benami’ property, Additional Solicitor General K M Natraj said. He said the ED needs to confront him with voluminous documents it has collected in the case. The ED told the court that Shivakumar was withholding information which was solely in his knowledge. Also Read – Tourists to be allowed in J&K from Thursday “I am sure he won’t answer questions in the next five days either. Why do you need his custody,” the judge asked ED, to which the agency replied that there are statements by some other accused and Shivakumar needs to be confronted with that. The court had allowed ED to interrogate the politician in custody, saying the allegations made against him were serious in nature. Meanwhile, Shivakumar’s daughter Aishwarya had appeared before the ED on Thursday in connection with its money-laundering probe against him, the ED officials had said. The 22-year-old management graduate was questioned and her statement was recorded under PMLA. According to the sources, she was also confronted with documents and statements made by Shivakumar with regard to a trip to Singapore he made with her in 2017. Aishwarya is a trustee in an education trust floated by her father. The trust, holding assets and businesses worth crores, operates a number of engineering and other colleges and Aishwarya is the main person behind them, they said. The former cabinet minister and sitting MLA from Kanakapura seat had appeared before the ED for questioning on September 3 for the fourth time at its headquarters here. After a long session of grilling, Shivakumar, 57, was placed under arrest as per provisions of the Prevention of Money Laundering Act (PMLA). The ED had in September last year registered the money laundering case against Shivakumar, Haumanthaiah, an employee at Karnataka Bhavan in New Delhi, and others. Shivakumar had to appear before the ED after Karnataka High Court last week dismissed his petition challenging the summons issued to him by the agency. The ED had filed the PMLA case against him and others based on a charge sheet (prosecution complaint) filed by the Income Tax Department against them last year before a special court in Bengaluru on charges of alleged tax evasion and hawala transactions worth crores. The I-T department has accused Shivakumar and his alleged associate S K Sharma of transporting huge amount of unaccounted cash on a regular basis through ‘hawala’ channels with the help of three other accused.last_img read more

Nothing But Nets And Athletes For Hope Join To Fight Malaria

first_imgThe United Nations Foundation’s Nothing But Nets campaign and Athletes For Hope are joining forces to connect professional, Olympic, and collegiate athletes and their fans to help save lives by preventing malaria, a leading cause of death among children globally.The partnership aims to unify athletes and their fans, in every sport, to work together in fun, creative ways to raise awareness about the disease, which claims the life of a child every 60 seconds. In sub-Saharan Africa, it only costs $10 to deliver a life-saving bednet to protect families from malaria.“Nets aren’t just used in sports – they are crucial to protecting families from malaria,” said Golden State Warriors guard Stephen Curry. “I’m excited that Athletes for Hope will introduce more athletes and sports fans to this important cause.”Founded by Andre Agassi, Muhammad Ali, Mia Hamm, Jeff Gordon, Alonzo Mourning, and Jackie Joyner-Kersee among others, Athletes for Hope brings athletes together to educate, inspire, and empower them to help make a difference in the world. Athletes for Hope members will be introduced to the Nothing But Nets campaign and have a number of opportunities to engage their fans and communities throughout the year to join the fight against malaria.“Athletes for Hope is honored to join forces with Nothing But Nets to fight malaria,” said Ivan Blumberg, Chief Executive Officer of Athletes for Hope. “This engagement is the first global cause that our over 2,000 athlete members will have the opportunity to address.”Malaria is a deadly disease, transmitted by a single mosquito bite. Malaria kills more than 600,000 people worldwide every year. But nets provide a simple, cost-effective solution that can stop the spread of malaria and save lives.“The global community has already cut child deaths from malaria in half over the last decade,” said Nothing But Nets Director, Christopher Helfrich. “We are making tremendous progress and partners like Athletes for Hope are going to help us defeat malaria in this generation.”Nothing But Nets is a global, grassroots campaign to raise awareness, funds, and voices to fight malaria. Since 2006, hundreds of thousands of sports fans and campaign supporters have joined the campaign to send nets and save lives. Together with its UN partners, the Nothing But Nets campaign has helped deliver more than 9 million nets to families in 29 countries across sub-Saharan Africa. To learn more, visit read more

Alaska credit union to serve marijuana businesses

first_imgANCHORAGE, Alaska — A credit union is launching a pilot program to begin serving marijuana businesses in Alaska, giving the cash-only industry a financial option after banks shunned the industry.Credit Union 1 announced Thursday its move comes with no political or moral position.CEO James Wileman says safety concerns were a significant factor, and would keep large amounts of cash off the streets.Because of the federal prohibition on marijuana, most banks and credit card processors won’t service marijuana businesses.Kelly Mazzei with the state’s tax division says the agency supports the move as a time-saver.Anchorage attorney Jana Weltzin says many of her Alaska marijuana business clients are excited about an opportunity to participate because it would free them from having to keep so much cash in their homes or vehicles.Rachel D’Oro, The Associated Presslast_img read more

Always enjoy working with Soumitra Chatterjee, says Aparna Sen

first_imgKolkata: Actor-director Aparna Sen, who is sharing screen space with thespian Soumitra Chatterjee in Basu Paribaar after a gap of 19 years, has said she always yearns to work with the legend who was paired with her in her debut film Teen Kanya in 1961. The two veterans were last seen together in Sens’s directorial venture Paromitar Ek Din in 2000. “I always look forward to work with Soumitra Chatterjee who is such a great actor someone having such a vast experience,” Sen said recently at the trailer launch of Basu Paribaar here. Recalling her shooting experiences for the film, Sen said: “We used to spend time in adda sessions in between shots at the Mahisadal Rajbari (in East Midnapore) and that was really refreshing.” “Many years have passed since our first film together and we have come a long way,” Sen, who stepped into the filmdom with Satyajit Ray’s Teen Kanya at the age of 16, told reporters here. Basu Paribaar, adapted from James Joyce’s The Dead, has been helmed by director Suman Ghosh. “I loved the way he (Ghosh) adapted James Joyce story for the film. I agreed to do the film immediately after reading the script. I am usually very choosy about my roles,” the Padma Shri awardee said. In Basu Paribaar’ Sen essays the character of Manjari, the wife of retired lawyer Pranabendu (Soumitra Chatterjee). Asked about her collaboration with Ghosh, she said, it was “heartening” to note that some of her suggestions were readily accepted by the director. “He is open to suggestions, something that I appreciate. But as an actor, my job is to follow what the director has visualised for the film. I just did that,” she added.last_img read more

3 killed as auto-rickshaw hits divider in New Friends Colony

first_imgNew Delhi: Three persons died after an auto-rickshaw in which they were travelling lost control and hit a divider in South-East Delhi’s New Friends Colony on Friday.According to police, on receipt of information regarding the accident at about 1.15 am, the investigating officer (IO) reached the spot which was Mathura road cut opposite CRRI gate, where a TSR was found lying in an accidental condition. “The injured were reportedly taken by PCR van to an unknown hospital,” said police. Also Read – After eight years, businessman arrested for kidnap & murderPolice further added that later information was received from Apollo hospital. Wherein it came to notice that in the accident three persons have expired and the fourth one is injured. “Injured identified as Amar Singh (25), met IO and his statement was recorded, who told that they all use to do the work of catering and all were returning to their room at Nehru Nagar from Jaitpur after completing work in a function,” police said. Police further revealed that the TSR driver was driving at a very fast speed and in a negligent manner. Also Read – Two brothers held for snatchingsWhen they reached near the spot the TSR driver took out a cloth and started cleaning the front glass while driving and due to this he lost control and hit the divider and toppled down. “They all got injured. The driver initially ran away from the spot but was later apprehended,” added police. The deceased were identified as Ashok (18), Devraj (23) and Ram Singh (40). All were residing at Nehru Nagar, Lajpat Nagar. The driver identified as Vijender has been apprehended. A case under section 279/337/ 304A IPC has been registered at NFC police station. In another case, an ITI student was crushed to death after a bus ran over him in Hazrat Nizamuddin area. Police identified the deceased as Honey who along with his friend was going to have food. “While crossing the road, he was hit by a motorcycle. He did not get the time to get up as he was under the tyre of bus,” police said.last_img read more

Regulator 2015 North Dakota spill could top 1M gallons

BISMARCK, N.D. — A North Dakota regulator says a 2015 pipeline spill of natural gas liquids initially reported as just 10 gallons could top 1 million gallons.North Dakota regulators say about 837,000 gallons (3.17 million litres) of natural gas liquids has been recovered from the spill.The agency updated cleanup progress at Oneok Partners’ Garden Creek gas plant in western North Dakota on Tuesday.Water Quality Division Director Karl Rockeman said Wednesday that public scrutiny has prompted the agency to provide timely updates.He says about 90,000 gallons (340,677 litres) of contaminated groundwater also has been recovered at the plant near Watford City.Regulators never updated the size of the spill, even as Oklahoma-based Oneok updated the state on cleanup.James MacPherson, The Associated Press read more

Bosnia and Herzegovina UN reports severe damage but no injuries in Vitez

UNMIBH condemned the bombing, which targeted the local branch office of the Social Democratic Party, one of the non-nationalist political parties that currently hold power in Bosnia. Officers of the UN International Police Task Force were at the scene today monitoring the work of local police investigating the attack, the UN Mission said.Set up in 1995 following the end of fighting in the region, UNMIBH exercises a wide range of functions related to law enforcement activities in Bosnia and Herzegovina. It also coordinates other UN activities in the country relating to humanitarian relief and refugees, demining, human rights, elections and rehabilitation of infrastructure and economic reconstruction.

UN mission in Afghanistan condemns deadly attack near German consulate in Mazar

According to UNAMA, a vehicle loaded with heavy explosives detonated near the German Consulate in Mazar last evening, killing four civilians and injuring 128 others, including 19 women and 38 children.Those who survived the explosion suffered minor wounds from broken glass. Victims with serious injuries remain hospitalized. In addition, over 100 homes and shops nearby were damaged, according to the Mission. UNAMA said that the Taliban claimed responsibility for the explosion, describing it as a revenge for recent airstrikes in the nearby province of Kunduz. Under the customary international humanitarian law, attacks where civilians are being deliberately targeted as an attempt to spread terror among the population are considered to be war crimes. The UN Mission expressed its sincere condolences to the families of victims and a speedy recovery to those injured. read more

Timur Dibirov to miss the European Championship 2014 in Denmark

dibirovKuleshovoleg kuleshovrussiaTimur Dibirov One of the main stars of the Russian handball team, the wing Timur Dibirov – who is currently playing for Vardar Skopje, will NOT be participating at the upcoming European Championship 2014 in Denmark! This has been announced by the head coach Oleg Kuleshov for the official website of the federation. He mentioned that Dibirov has decided that it’s time for a break from playing for the national team, and will therefore miss the January 2014 WC. ← Previous Story French LNH Hand Star Game – lineups known! Next Story → JOIN 8th KEMPA 4 SPORT CUP IN PRESOV – SLOVAKIA!

Show of support to AGWS

first_img Facebook Twitter: @NeosKosmos Instagram Delphi Bank, recognising the work of the Australian Greek Welfare Society (AGWS) presented the organisation with a donation of AUD $18,000. Delphi Bank Chief Executive Officer, George Tacticos, stated that ‘we aim to give back to the community that supports us and we constantly think about what we can do beyond banking to help our customers and strengthen the communities they live in. We are extremely pleased that our continued fundraising efforts have translated into such a substantial amount for a truly admirable organisation’. George Spilioti, President of AGWS, responding on behalf of his organisation said that AGWS truly values its relationship with Delphi Bank, reminding that the Bank has demonstrated an ongoing commitment to engage and support the work of the Brunswick based Welfare organisation’.The funds come at a time where the Hellenic-Australian community is ageing rapidly and the need for services is at a critical level. AGWS has addressed the existing and emerging needs of the community for over four decades and their services and programs continue to be recognised for their progressive impact across all areas of the community.In 2010, the Delphi Bank Foundation selected AGWS to be the benefactor of their fundraising efforts and donated a substantial amount to the organisation, totaling AUD $103,000.last_img read more

Développement durable lIledeFrance adopte un plan vélo

first_imgDéveloppement durable : l’Ile-de-France adopte un plan véloAfin de limiter le trafic routier en ville et lutter contre la pollution, l’Ile-de-France a adopté un plan qui vise à encourager les automobilistes à laisser leur voiture au garage pour lui préférer le vélo.Jeudi 23 juin 2011, la région Ile-de-France a adopté un “plan vélo” qui comme le rapporte, a pour but d’encourager l’usage du vélo en ville. Une expérimentation sera lancée en ce sens au mois de mars 2012. Elle portera sur un système baptisé Véligo, qui en partenariat avec la SNCF, permettra de laisser son vélo dans un local fermé. Un service proposé pour 20 euros par an, et qui sera directement chargé sur le pass Navigo. Le système permettra aux abonnés de laisser leur vélo dans leur gare de départ ou d’arrivée afin de pouvoir l’utiliser à leur descente du train. Au cours de l’été, seize locaux destinés aux vélos seront construits dans des gares du réseau Transilien. 758 places de stationnement seront ainsi disponibles. En outre, le plan prévoit la création d’un site internet sur lequel les usagers pourront rechercher des itinéraires cyclables et connaître les conditions précises de circulation. Un site qui ne devrait toutefois pas être lancé avant 2013. Le plan vise également à augmenter le réseau de pistes cyclables, tout en créant des “zones de rencontre” entre les automobilistes, les piétons et les cyclistes, afin de contraindre les véhicules à rouler plus lentement. Au total, quelque 24 millions d’euros seront cette année consacrés au plan vélo.Le 26 juin 2011 à 16:28 • Maxime Lambertlast_img read more

Un séisme de magnitude 32 secoue le Béarn

first_imgUn séisme de magnitude 3,2 secoue le BéarnLundi matin, à 6h24, un séisme de magnitude 3,2 a fait trembler le Béarn, à l’est d’Oloron dans les Pyrénées-Atlantiques. Selon les pompiers et l’Observatoire des sciences de la Terre de Strasbourg, celui-ci n’a pas fait de dégâts notables. La terre a tremblé aujourd’hui dans le Béarn. Ce matin, à 6h24 précises, un séisme de magnitude 3,2 sur l’échelle de Richter, a été enregistré, près d’Oloron dans les Pyrénées-Atlantiques. Heureusement, celui-ci n’a fait aucun dégât, selon les pompiers du Centre opérationnel départemental d’incendie et de secours (Codis) qui n’ont, d’ailleurs reçu aucun appel suite au séisme. À lire aussiSéisme de glace, trou noir et drone, les 8 actus sciences que vous devez connaître ce 2 févrierPlus précisément, l’épicentre du phénomène a été localisé à 10 kilomètres à l’est d’Oloron-Sainte-Marie, a indiqué à l’AFP l’Observatoire des sciences de la Terre de Strasbourg, qui a également précisé que de tels phénomènes sont courants dans la région. En effet, cinq séismes de magnitude comparable s’y sont déjà produits depuis le début de l’année et près de 248, d’intensité inférieure à 3, auraient été enregistrés dans la région depuis début 2011, dans un rayon de 100 kilomètres autour d’Oloron. Le 8 août 2011 à 13:23 • Maxime Lambertlast_img read more

Market Fresh Finds Eggplants purple reign is here and now

first_imgEggplant is a must for fans of outdoor grilling. Long prized for deeply purple, glossy beauty and unique taste and texture, eggplants are available in markets throughout the year, but they are at their best from August through October, when they are in season.Eggplants belong to the nightshade family of vegetables, which also includes tomatoes, bell peppers and potatoes. They grow in a manner much like tomatoes, hanging from the vines of a plant that grows several feet in height. While varieties do range slightly in taste and texture, one can generally describe the eggplant as having a pleasantly bitter taste and spongy texture.Eggplant is a very good source of dietary fiber, vitamin B1, and copper. It is a good source of manganese, vitamin B6, niacin, potassium, folate, and vitamin K. Eggplant also contains phytonutrients such chlorogenic acid.Choose eggplants that are firm and heavy for their size. Their skin should be smooth and shiny, and their color, whether it is purple, white, or green, should be vivid. They should be free of discoloration, scars and bruises, which usually indicate the flesh beneath has become damaged and possibility decayed.The stem and cap, on either end of the eggplants, should be bright green. As you would with other fruits and vegetables, avoid purchasing eggplant that has been waxed. To test for ripeness of an eggplant, gently press the skin with the pad of your thumb. If it springs back, the eggplant is ripe, while if an indentation remains, it is not ripe.last_img read more

Economists at Oregon forum Dont expect an imminent recession

first_imgThere are signs that the economy is slowing down slightly following years of sustained growth, but panelists at the 15th Annual Oregon Economic Forum said Wednesday that a recession is likely still a few years away.“We’re telling our investors it’s not set in stone,” said Bruce McCain, chief investment strategist at Key Private Bank. “Stick to your guns for the present.”McCain joined Oregon Economic Forum director Tim Duy for a panel focusing on economic reviews and forecasts at the event, held at the Portland Marriott Downtown Waterfront.The panelists discussed some of the potential warning signs that would be visible before a recession.For example, McCain said that the yield curve — a line showing several yields or interest rates across different contract lengths — tends to invert roughly a year before a recession, and he said he thinks the economy is still one to two years away from that point.The pair also noted that a future recession may not be as stark as the one that began in 2008, because impacts in one part of the economy don’t always spread to the rest. The 1990s tech bubble didn’t drag down the entire economy when it burst, McCain noted.last_img read more