Boeing 737 MAX 8 planes will remain grounded until security clearance: China

first_imgBeijing: China said on Tuesday that Boeing 737 MAX 8 planes will not be allowed to fly until their security is guaranteed, as it ruled out any politics behind its decision to ground nearly 100 such aircraft after the deadly Ethiopian Airlines crash. China’s civil aviation regulator on Monday ordered domestic carriers to ground all Boeing 737 MAX 8 planes, citing flight safety, a day after an aircraft of similar model operated by the Ethiopian Airlines crashed in Addis Ababa killing all 157 passengers and crew, including 10 Indians and Indian-origin Canadians. The crash of Ethiopian Airlines plane came five months after another Boeing 737 MAX 8 of Lion Air crashed in Indonesia that killed 189 passengers and crew. Reports said there were similarities between the Ethiopian and Indonesian air crashes as they both occurred during take-off, involving new aircraft that had just been delivered. Apart from China, Indonesia and Ethiopia have also ordered the airlines to ground their Boeing 737 MAX 8 planes. “As for China, the Civil Aviation Authority of China (CAAC) has said that they will stay in touch with the US and Boeing,” Chinese Foreign Ministry spokesman Lu Kang told a media briefing here. After guaranteeing the security of the aircraft, they will resume operations. So we don’t have a time table yet. “Only after we confirm that there is no risk for security can we resume their operation. It is shows our sense of responsibility for passenger safety,” he said. In a bid to rule out any politics behind China’s decision, Lu pointed to several other countries and airlines that have grounded the particular aircraft after Sunday’s accident due to safety concerns. “First I want to emphasise not only the CAAC but also many countries in the world and regions are grounding the commercial operations of this aircraft after the accident,” he said. China and the US, the world’s two largest economies, are locked in a trade war since Trump imposed heavy tariffs on imported steel and aluminium items from China in March last year, a move that sparked fears of a global trade war. Trump imposed tariff hikes of up to 25 per cent on USD 250 billion of Chinese goods. In response, China imposed tit-for-tat tariffs on USD 110 billion of American goods. Top trade officials from America and China are holding talks to negotiate a comprehensive trade deal.last_img read more

Wigneswaran draws flak over damaging comments

The JVP also said that they feel Wigneswaran was making such comments as he was now politically bankrupt.The JVP urged Tamils in the North to reject his comments and support peace in the country. (Colombo Gazette) Northern Province C V Wigneswaran has been accused of making comments which could instigate ethnic tensions.The Janatha Vimukthi Peramuna (JVP) said that Wigneswaran’s statement that Sinhalese should not be allowed to be settled in the North cannot be accepted. “We condemn that statement,” JVP General Secretary Tilvin Silva said today. Silva said that Wigneswaran was not only making damaging comments about a particular community but also a religion.He noted that the comments made by Wigneswaran has not only been rejected by the Government and the opposition but also the Tamil National Alliance. He said that by saying Sinhalese cannot be settled in the North, Wigneswaran is opening the doors for people in the South to say Tamils cannot be settled in the South. read more

Explosive device thrown during riot into UN compound in Afghanistan

No UN staff members were hurt, although some vehicles inside the compound were damaged by the stone-throwing and the explosive device. The crowd was dispersed, and the situation in Jalalabad, in the country’s south, has calmed.A UN spokesperson in New York was asked about the deteriorating security situation in the country. Marie Okabe replied that today’s incident was another reminder of the need for improved security in Afghanistan. “As the UN mission has repeatedly stated, improved security is particularly important in the context of the upcoming elections,” she added.When asked whether the UN has considered help from the International Security Assistance Force (ISAF), she noted that security was the responsibility of the Afghan authorities and the international forces. She added that there was no reason to believe that the United Nations was specifically targeted. read more

Private sector can contribute in global efforts to counter terrorism says SecretaryGeneral

In a message to the Global Forum for Anti-Terrorism Partnership between Government and Business being held in Moscow, Mr. Annan noted that the recently adopted United Nations Global Counter-Terrorism Strategy encourages the world body to reach out to the private sector as part of its efforts, in particular with respect to port, maritime and civil aviation security.“Just as terrorism does not discriminate amongst its victims, neither does it distinguish between the public and private sectors,” he noted. “Businesses are frequently the direct targets of terrorist attacks. Moreover, terrorism not only affects business infrastructure, but also inflicts serious economic harm.”“The private sector is well positioned to develop innovative approaches to addressing a number of aspects of terrorism, in particular in the area of protecting vulnerable targets,” he said, hailing the meeting’s focus on the contribution of the UN and other international organizations.“There is great potential for cooperation between us on a number of provisions contained in the strategy – for example, those pertaining to the financial sector, the Internet, infrastructure, transportation and emergency response,” he said in the message, which was delivered by Antonio Maria Costa, Executive Director of the UN Office on Drugs and Crime (UNODC). read more

In Myanmar UN refugee chief calls for solutions to displacement and exclusion

Concluding his first visit to Myanmar, the United Nations refugee chief today appealed for inclusive and sustainable solutions to protracted displacement and statelessness. “These are complex issues but they are not intractable,” said High Commissioner for Refugees Filippo Grandi in a press release issued by his office (UNHCR).In Kachin and Rakhine states, some 100,000 and 120,000 people, respectively, have remained displaced for more than five years following the eruption of inter-communal conflict between Buddhists and minority Muslim Rohingya. In Rakhine state, Mr. Grandi met with displaced Muslims in Sittwe’s Dar Paing camp who expressed their strong desire to return home. He also reached out to Rakhine and Muslim communities north of Maungdaw and listened to their safety and livelihood concerns. He also met with high-ranking officials in the South-east Asian nation to discuss humanitarian access in Kachin and Rakhine states. “A crucial first step is to pursue freedom of movement and access to services and livelihoods for all. Accelerated pathways to citizenship are also part of the solution, as are efforts to tackle exclusion and poverty,” Mr. Grandi said, alluding to the country’s denial of citizenship for the Rohingya.Among the officials he met with were State Counsellor Aung San Suu Kyi; the Minister of Social Welfare, Relief and Resettlement, Min Myat Aye; the Minister of Labour, Immigration and Population, U Thein Swe; and the Minister of Border Affairs, Lt. Gen Ye Aung. “I was very happy to hear the State Counsellor saying that refugees are welcome back from Thailand,” said Mr. Grandi. “We agreed that returns must be voluntary and sustainable. Refugees should not come back to a situation of dependency but of self-reliance.”He highlighted that the recommendations of the Advisory Commission of Rakhine State provide an important roadmap for the way forward. The High Commissioner will next visit Thailand before concluding his regional trip in Bangladesh next week. read more

Appeal after young man seriously injured in suspected hitandrun

first_img Jun 12th 2017, 12:01 PM GARDAÍ ARE APPEALING for information after a young man was found with serious injuries in a suspected hit-and-run in Limerick this morning.The pedestrian in his early 20s was discovered at Dullas, Croom by a passing motorist at around 2.30am.He was taken to Limerick University Hospital with what is described as serious injuries.It’s believed that the incident took place sometime after 1.30am.Gardaí are appealing for road users who were on the Ballingarry Road out of Croom to contact them at Newcastlewest Garda Station on 069-20650, or the Garda Confidential Line on 1800 666 111 or any garda station.Read: Girl seeking abortion held in psychiatric unit when she thought she was going for termination> Tweet thisShare on FacebookEmail this article Share1 Tweet Email 10,459 Views Short URL Monday 12 Jun 2017, 12:01 PM 2 Comments Image: By Cliodhna Russell Image: Appeal after young man seriously injured in suspected hit-and-run He was taken to Limerick University Hospital after being found by a passing motorist. last_img read more

Greek Australians succeed in NSW elections

first_imgThree new Greek Australian representatives will join NSW government after Saturday’s election, which saw the Liberal/Nationals return to power under Premier Mike Baird.Eleni Petinos secured 56 per cent of the primary vote, winning the seat of Miranda for the Liberals. As the first Greek Australian female to occupy a sear in the lower house, Ms Petinos is regarded a rising star for the conservatives, having been involved with the Liberal party since High School. Miranda has become one of the safest seats for the Liberals and it’s predicted that Ms Petinos will have a long tenure in parliament. As expected, Steve Kamper was elected as the new representative for the seat of Rockdale, returning it to the Labor Party. Having received almost 47 per cent of the primary vote, Mr Kamper will have an influential role in the new Labor caucus.The third Greek Australian to be elected is Upper House Labor member and shadow minister, Sophie Cotsis.Considered the ALP’s number one ticket for the Legislative Council, this will be her second four-year term, playing a crucial role in the ALP’s long campaign to regain power in 2019.Of the other Greek Australians that contested the state elections, prominent unionist Arthur Rorris who ran as independent did not manage to win the seat of Wollongong, which remained in the hands of the ALP.In the seat of Canterbury, Liberal Nomiky Panayiotakis got a respectable 27 per cent of the votes, but was not enough to secure a seat, with deputy leader of the Labor Party Linda Burney holding on.According to the latest count, Mike Baird’s government obtained 53 seats, 16 fewer than the 69 the government held before the election. Despite this, the numbers will be sufficient enough to form a majority government and push their policies through, namely the controversial action to partially lease the electricity sector.The ALP claimed at least 34 seats, a considerable increase compared to the 20 it had before. ALP leader Luke Foley said that the party has emerged once again as a strong opposition and will need a swing of about 6 per cent to win government in 2015. The Greens also had a successful run, increasing their lower house members from one to three, with a possibility for a fourth.In the Upper House, the Liberal-Nationals are expected to win an extra seat, thus needing to negotiate with only one minor party to get through its legislation, which will most likely be the Christian Democratic Party of Fred Nile.The count for the Legislative Council will continue in the coming days. Facebook Twitter: @NeosKosmos Instagramlast_img read more

Geek deals Save 97 off a lifetime subscription to MailButler Professional

first_imgIs your inbox getting to be more than a little overwhelming? Consider investing in MailButler Professional. This plug-in for Apple mail is made to help you act on your most important messages while saving you time and energy.• Get a lifetime subscription to MailButler Professional for $34.99 (List price: $1470)With MailButler, you can easily turn your emails into items on a to-do list, mute specific messages, track read receipts, undo accidental email sends, and schedule emails for future delivery. And since it integrates with popular services like Google Drive, Evernote, and Dropbox, getting at your important information has never been easier.In addition to those incredibly practical features, MailButler can also be used to improve the look of your messages. Not only does it allow for streamlined use of emoji and Giphy animations, you can always customize your signature and message templates to fit your specific needs. While a lifetime subscription to MailButler Professional would typically run about $1470, and the monthly cost runs about $8.41, you won’t have to pay a premium that high. Make your purchase on StackSocial, and you can get a lifetime subscription for just $34.99 — a 97% discount.If you’re not up for a lifetime investment, you can opt for a one-year subscription for just $14.99 instead. That’s an 83% savings, but it’s not nearly as impressive as the lifetime membership.Note: All sales final. Terms and conditions apply. See the StackSocial website for more information.Our commerce group sources the best deals and products for the Geek Deals posts. We operate independently of Editorial and Advertising and may earn a percentage of the sale, if you buy something via a link on the post. If you are interested in promoting your deals, please contact us at more great deals, head over to TechBargains.last_img read more

Geek Deals 20 Percent off Mario Tennis Ace PreOrder 300 off the

first_imgReady for a big new game on your Switch? Right now, Amazon Prime subscribers can pre-order Mario Tennis Aces for just $47.99 – 20 percent off the sticker price. TechBargains has also come up with a laundry list of other incredible deals from all over the internet, so there’s bound to be a discount here that catches your eye.Featured DealsOut 6/22: Mario Tennis Aces (Nintendo Switch) for $47.99 with Amazon Prime at Amazon (List price: $59.99).Dell Inspiron 14 7000 Intel Core i7-8550u Quad-Core 14-inch Laptop with 1080p IPS Display, Dual 128GB SSD and 1TB HDD and Nvidia MX150 4GB GPU for $832.99 at Dell (Coupon code: 50OFF699 – List price: $1079.99).New 2018 Vizio P-Series 4K LED HDTV with 55-Dimming Zones, HDR and up to 1000nit brightness for $798.99 at Walmart (List price: $999.99).Dell XPS 15 (9560) Intel Core i7-7700HQ Quad-Core 15.6-inch 4K Touch Laptop with 1TB Solid State Drive, 16GB RAM, GTX 1050 GPU (Refurb) for $1249.99 at PCMag Shop (Coupon code: 200OFF – List price: $1610).Dell Inspiron 15 7000 Gaming Intel Core i5-7300HQ Quad-Core 15.6-inch Laptop with GTX 1050Ti 4GB GPU, 1080p IPS and 256GB SSD for $749.99 at Dell (Coupon code: 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Carbon Fiber 250W Electric Scooter by Enjoybot (Up to 16mph) for $129.99 at Amazon (Coupon code: BHZER8B5 – List price: $259.99).For more great deals go to TechBargains.last_img read more

Road Safety Message from the Minister of Transport and Local Government

first_imgFacebook Twitter Google+LinkedInPinterestWhatsApp#Bahamas, December 18, 2017 – Nassau – As we prepare to celebrate this very special season, let’s take time to reflect on the importance of the celebration.   It’s a time of joy and peace…a time of thanksgiving, but more importantly a time for family.During 2017, we are continuing to have too many deaths on our streets and persons injured due to unnecessary traffic accidents.  Between December 1st and 3rd the country experienced 6 road facilities; one in Grand Bahama, two in Abaco and three in New Providence.   We must continue to work hard in 2018 to ensure that instances of death and injury are greatly reduced, by ensuring that we as drivers and pedestrians engage in responsible, life-saving behavior.As we all know, many unlawful and dangerous habits impede our vision and ability to respond properly while driving, resulting in fatal or very serious vehicle accidents.   We all know of some friend, relative, or an acquaintance who have become a victim of an unnecessary tragedy.  We at the Ministry of Transport and Local Government have too often been forced to comfort the families of the victims whose lives have been cut short, or who suffer life altering disabilities.As we approach this festive season, many of us will be inclined to rush about buying gifts, and may not engage in proper driving or walking habits.  Many of us will also participate in some form of celebration involving alcohol, and I appeal to all such persons to consume responsibly, and to always ensure that when driving, that there is a designated driver for each event, that is someone who has not consumed any alcohol.   It is also important to observe the following key road safety tips in order to fully enjoy this festive season safely:Keep your eyes on the road…When you are driving, you should be doing just that and nothing else, no eating or drinking or engaging in other distracting behavior.Buckle up and use Child Restraint Seats as required by Law.Obey the rules of the road, especially the speed limits and traffic lights.Never use your cell phone while driving.Drive defensively and ignore aggressive drivers.Pedestrians should always use sidewalks and pedestrian crossings, be alert, and wear bright clothing at night.Cyclists should take streets that are not busy and wear appropriate gear to be easily recognized during the night.Motorcyclists should always wear helmets and should not engage in inappropriate behaviors such as prancing bikes and swaying in and out of traffic.Public Service drivers, especially Jitney drivers, must use only designated bus stops, keep left at all times and should not engage in racing to gain advantage over another driver, for the sake of getting to the passenger first.In addition, when you observe someone breaking the rules of the road, report such persons to the Police or to the Road Traffic Department. It is important that we all do our part to contribute to a safe driving environment.On behalf of the staff of the Ministry of Transport and Local Government and particularly the Road Traffic Department, I wish you all a blessed and safe Holiday Season, and I encourage all to drive to arrive alive in 2018, and throughout the New Year. Facebook Twitter Google+LinkedInPinterestWhatsApp The Hon. Frankie CampbellMinister of Transport and Local GovernmentNassau, The BahamasDecember 14, 2017center_img Related Items:last_img read more

ASA Supports Changes in USDAs Biofuel Program

first_imgThe U.S. Department of Agriculture (USDA) announced today that in response to comments received, it was making changes in the Advanced Biofuel Payment Program that will make biofuels produced in facilities located in non-rural areas, as well as those that are foreign-owned, eligible for program payments. The American Soybean Association (ASA) has been pressing for these modifications, as the requirements unfairly excluded valuable biodiesel production facilities that utilize domestic soy feedstocks and benefit American farmers and their communities.”ASA applauds the USDA announcement that it is removing the rural area and domestic ownership requirements that were imposed last year in the Biofuel Payment Program,” said ASA President Rob Joslin, a soybean grower from Sidney, Ohio. “Those requirements were not intended by Congress and were inconsistent with the overall goals of USDA biofuels programs: to increase domestic, renewable energy sources and expand markets for farmers.”It was ASA that successfully worked with the Senate and House Agriculture Committees to include the Advanced Biofuel Payment Program in the 2008 Farm Bill as a program that will help grow the domestic biodiesel industry and the use of U.S. soybean oil as a primary feedstock. Biodiesel results in significantly lower greenhouse gas emissions than petroleum diesel and is the only advanced biofuel that is currently commercially available in the U.S.”Biodiesel has provided a significant market opportunity for U.S. soybean farmers, as well as jobs and economic stimulus for the U.S. economy,” Joslin said. “ASA thanks USDA for making these changes in response to the comments received, including those ASA submitted earlier this year. ASA strongly made the case to USDA that provisions that excluded from eligibility for the program any facilities located outside of areas designated by USDA as ‘rural,’ as well as foreign-owned facilities, made no economic sense. These plants employ U.S. workers, use U.S. soybean oil, and support U.S. farmers and local economies.”USDA will issue an amendment to its earlier notice and request applications from advanced biofuel producers at non-rural biofuel facilities and foreign-owned biofuel facilities.”The production and market competitiveness of advanced biofuels is very difficult, especially under the current economic conditions,” Joslin said. “The Advanced Biofuel Program provides much needed assistance to advanced biofuel producers who are struggling to maintain production, jobs, and the significant infrastructure investment they have made.”last_img read more

BusinessFocused 417 Magazine SpinOff Publishes First Issue

first_img About 40 pages of advertising space in the 100-page November/December issue were sold by 417’s existing sales staff. New hires include editor Claire Porter, as well as a designer, ad production graphic designer and a marketing professional who will guide public relations, social media and live events for the magazine. “Business leaders will want to read it because they want to know who’s coming up next. The magazine appeals to them because it connects them in print with who they need to be doing business with in the future,” continues Whitaker. “In every story, there is a takeaway, some sort of business lesson to be learned or acted upon.” Whitaker Publishing, LLC released the first issue of Biz 417, a new bimonthly magazine covering the local business scene and the professionals who power it in Springfield, MO and the surrounding Southwest Missouri region served by the 417 area code. Ultimately, Whitaker describes the magazine as a curated selection of business advice, business news, and the quintessential guide to networking in “417-land.” “We got feedback—not only from our readers but from the business community—saying, ‘I hope you do more of this,'” Whitaker says. “We decided that there was a place beyond the daily business news to do more personality-driven profiles of the people behind businesses and the young people who are about to take over. That ended up being the backbone of the business magazine.” “We’re starting something called B-School Breakfast, where the people featured in our cover story will do a panel discussion at a pretty high-energy, raucous breakfast. We’re trying to break the mold of the typical dull business mixer,” says Whitaker. To build up a subscriber base, 417 sent letters to “VIP-list” decision makers, promising inclusion in a “founding subscribers” list printed in each of the first year’s issues in exchange for the purchase of a $9.99 one-year, six issue subscription. Prior to the release of the first issue, over 1,000 business leaders had signed up. “The backbone of the website will be a calendar of every networking, chamber of commerce, Rotary or lunch and learn event,” Whitaker says. “It’s segmented by something in the morning, something you can do over the lunch hour, something you can do after hours. It’s an all-inclusive networking mega-calendar.” A major focus of the new magazine will be networking events, some produced by Biz 417. Partially born out of “Generation Next,” a July 2014 feature in Whitaker-produced lifestyle magazine 417 profiling up-and-coming business leaders in the region, Biz 417 is designed to provide “networking in print,” fostering connections between members of the business community, Whitaker Publishing president Gary Whitaker tells Folio:. The networking functions of the print magazine will also extend to the website, which will feature an all-inclusive calendar of local business events.last_img read more

Cumilla court rejects Khaleda bail plea

first_imgBNP Chairperson Khaleda ZiaA Dhaka court on Wednesday rejected the bail petition of BNP chairperson Khaleda Zia in a murder case filed over the deaths of eight people in an arson attack in 2015.Senior judicial magistrate Biplob Debnath passed the order.Public prosecutor Mostafizur Rahman represented the state while advocate Kaiyum Haque stood for Khaleda, a former prime minister.As the court rejected the bail plea of Khaleda, they would file bail petition with the High Court, Kaiyum Haque said.On September 20, acting judge Golam Mahbub Khan, senior judicial magistrate court-5 fixed September 30 for hearing on the bail petition filed by Khaleda. When the prosecution filed a time petition the court fixed October 3 for hearing.Eight people were killed and at least 20 others injured in a petrol bomb attack on a bus at Jogmohanpur in Chouddagram of Cumilla district during the BNP-led alliance’s movement on February 3, 2015.last_img read more

Sensex recoups 291 points after mega plunge

first_imgAfter correcting severely yesterday, Indian market staged a smart recovery today as the benchmark BSE Sensex spurted by 290.82 points to 26,032.38 on value- buying in realty, metals and banking stocks amid hopes that government might convene a session for passage of GST bill.Moreover, recovery in rupee, which sharply appreciated by 76 paise to 65.89 intra-day against the dollar also supported sentiment, brokers said.Trading in a wide range of 826.35 points during the day, the index managed to reclaim the 26,000-level after falling to its lowest since August 8, 2014, clocked in the previous trading. Also Read – Need to understand why law graduate’s natural choice is not legal profession: CJIThe BSE Sensex, which opened in the positive zone rallied to touch day’s high of 26,124.83 briefly, but slipped into the negative zone as selling pressure re-emerged and fell to a low of 25,298.42.However, towards the middle of the day, it staged another comeback to close the session 290.82 points or 1.13 per cent higher at 26,032.38.In the previous three sessions, the index lost 2,190.08, including yesterday’s biggest-ever fall of 1.624.51 points. Also Read – Health remains key challenge in India’s development: KovindThe NSE Nifty index also jumped 71.70 points or 0.92 per cent to end at 7,880.70. Intra-day, it reclaimed the 7,900 mark to touch a high of 7,925.40 and a low of 7,667.25.Equity brokers said sentiments got a boost after the government said, to pass key reform bills, including GST, it might reconvene the Monsoon Session.Market volatility was also high in view of August month expiry in the derivatives segment on Thursday.Among 30-Sensex stocks, 22 ended with gains led by Vedanta, Tata Motors, Coal India, ICICI Bank, Axis Bank, NTPC, Tata Steel, GAIL, SBI, RIL, BHEL, Dr Reddy’s and Hindalco. Barring IT, all the BSE sectoral indices notched up gains led by realty, metal, oil& gas, PSU and banking.Retail investors pumped money into mid-cap and small-cap shares with respective indices rising up to 1.99 per cent.Globally, most Asian bourses closed mixed with Chinese equities sliding by 7.63 per cent. A higher opening was seen in European markets.last_img read more

Get The Complete iOS 11 Machine Learning Masterclass And Put Your Career

first_img Share Tweet Submit Are you looking for a boost in your career? Do you want to build career boosting mobile apps? If yes then the Complete iOS 11 Machine Learning Masterclass is exactly what you need. Machine learning is no doubt among the fastest growing fields in technology and many apps are beginning to integrate machine learning into their systems. This is done to add a layer of intelligence to the system. In the end only the smart will survive. Darwin’s law applies here too in a way.Complete iOS 11 Machine Learning Masterclass featuresComplete iOS 11 Machine Learning Masterclass is an extremely comprehensive course that is designed to provide you with the knowledge to make brand new apps for iOS 11. It will not only help in app making but will help incorporate machine learning and turning these apps into smart apps. These apps will then be able to interact and learn from users hence enhancing the entire app experience.With the Complete iOS 11 Machine Learning Masterclass you will be able to Access 86 lectures and 6.5 hours of content 24/7Explore the three fundamental branches of applied machine learning: image and video processing, text analysis and speech and language recognition Learn how to apply machine learning to real projects Perform image recognition in an app by differentiating between people and objects and classifying flowers Add Siri Voice into your app Find trained machine learning models and make them ready to use in iOS apps Receive in-class supportThe Complete iOS 11 Machine Learning Masterclass has been designed by Yohann Taleb who is a leading expert in mobile game programming, app flipping and reskinning. Yohann owns over a 100 apps in the Apple and Android stores. He has even helped many students publish apps that have topped the iTunes Store leaderboards.Details and RequirementsYou can purchase the Complete iOS 11 Machine Learning Masterclass at this site. After purchase users can get lifetime access to the course content. The content will be available via mobile and web streaming. After purchase you must redeem your code within 30 days. The certificate of completion is not included in the deal.So what are you waiting for? Get the deal now.last_img read more

University unfazed by Bitcoin warnings

first_imgBy Constantinos PsillidesTHE University of Nicosia, the first private university in the world to accept Bitcoin as payment for tuition, is determined to move forward with embracing the digital currency, despite a plunge in value over the week.Dr Christos Vlachos, chief financial officer for University of Nicosia, said at a presentation yesterday that Bitcoin was an inevitability that would eventually lead to significant innovation. “Digital currency will create more efficient services and will serve as a mechanism for spreading financial services to under-banked regions of the world. In this light, we consider it appropriate that we implement digital currency as a method of payment across all our institutions in all cities and countries of our operations,” he said.Vlachos, who was interviewed last week on “Keiser Report”, on the TV network Russia Today, said that he hoped to turn Cyprus into a Bitcoin hub.Bitcoin is a peer-to-peer digital currency that functions without a central authority and it was first introduced in January 2009 by a person known only as Satoshi Nakatomo.The digital currency is stored in anonymous ‘electronic wallets, or code, and can travel from one wallet to another by means of an online peer-to-peer network transaction.The digital currency took a severe hit the past week, after China’s Central Bank (CBC) issued a warning against it and banned deposits in yuan on BTC China, the biggest Bitcoin trading platform.Warnings against trading in Bitcoin were also issued by the European Banking Authority on December 12. The EBA warned Europeans that they should be fully aware of the risks entailed in trading in Bitcoin before deciding to do so, adding that “no specific regulatory protections exist that would cover you for losses if a platform that exchanges or holds your virtual currencies fails or goes out of business”.The Cyprus Central Bank also had something to say about Bitcoin. In a statement given to the Cyprus News Agency, the CCB made clear that “using any virtual money is extremely dangerous because they are not monitored by any authority, thus operating without control”.The accusations were contested by Danny Brewster, CEO of Neo & Bee, the largest business in the world that is building infrastructure around Bitcoin technology.In a written statement, Brewster argued that “the use of Bitcoin carries risks like any other financial instrument. However, because Bitcoin is still only five years old, the infrastructure is still being developed,” said Brewster. “Bitcoins have value because they are useful, they can travel immediately and they cannot be reproduced by fiat, by anyone. I sincerely wish such transparent and free protocols were available by voluntary consensus to everyone.”Despite the plunge in value, University of Nicosia’s decision to accept Bitcoin as legal tender was met with widespread coverage.During yesterday’s presentation, Vlachos boasted worldwide coverage from 242 media outlets, including the Wall Street Journal, Bloomberg Business, Los Angeles Times and Time magazine.You May LikeLivestlyChip And Joanna’s $18M Mansion Is Perfect, But It’s The Backyard Everyone Is Talking AboutLivestlyUndoPopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndoFreedom Debt ReliefPeople In Heavy Debt Are In For A SurpriseFreedom Debt ReliefUndo Pensioner dies after crash on Paphos-Polis roadUndoCruise passenger airlifted to Paphos hospitalUndoRemand for pair in alleged property fraud (Updated)Undoby Taboolaby Taboolalast_img read more

Eurogroup decision to change use of bailout funds welcome Georgiades says

first_imgBy Stelios OrphanidesFinance Minister Harris Georgiades said he would welcome a decision by euro area finance ministers to divert funds earmarked to recapitalise banks to the refinancing of existing debt.“This would interest us as this wouldn’t increase public debt, and would facilitate managing existing debt,” Georgiades said in a telephone interview yesterday. “But our concern at this moment is to see the resumption of our programme and everything must come in its time. We would like to discuss this but it is not up to Cyprus or the troika to decide, it is up to the Eurogroup”.You May LikeLivestlyChip And Joanna’s $18M Mansion Is Perfect, But It’s The Backyard Everyone Is Talking AboutLivestlyUndoPopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndoYahoo SearchYou’ve Never Seen Luxury Like This On A Cruise Ship. Search Luxury Mediterranean CruisesYahoo SearchUndo Pensioner dies after crash on Paphos-Polis roadUndoCruise passenger airlifted to Paphos hospitalUndoRemand for pair in alleged property fraud (Updated)Undoby Taboolaby Taboolalast_img read more

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