IQBAL - User contributions [en]

Sunday March 6

2018-06-19T09:18:17Z

HansCazaly67702:

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2018-06-14T16:00:36Z

HansCazaly67702:

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Dragon bets on blockchain to cut costs for Asia s gambling business

2018-06-14T15:03:44Z

HansCazaly67702:

By Farah Master HONG KONG, Dec 7 (Reuters) - Dragon Inc, which is looking to raise more than $400 million in what would be the world's largest initial coin offering (ICO), is betting its focus on Asia's booming gambling industry can lure investors despite mounting concerns over a bubble forming in the virtual currency bitcoin. Dragon Chief Executive Chakrit Ahmad told Reuters the company had secured four junket partners - operators that connect China's wealthy punters to casinos in Macau and elsewhere - who had already committed a total $265 million in a private sale of the tokens, accounting for more than half of those available. In a proposal paper reviewed by Reuters, Dragon said its business model uses blockchain technology to get around the costly credit processes often used by the opaque junket industry, which contributes to more than half of gambling revenues in the Chinese territory of Macau. The use of blockchain technology means transaction costs are around 1 percent, rather than typical junket transaction fees of around [http://www.vtr.org.vn/cam-nang-du-lich-bac-kinh-5-ngay-4-dem.html du lịch Bắc Kinh 5 ngày 4 đêm từ Hà Nội]-7 percent. "We provide a better, more convenient and more cost-effective solution for them. If they (gamblers) want to exchange their winnings into fiat currency and then carry it themselves, they are free to do so. But the likelihood is they will revert back to digital currencies," Ahmad said. The public sale of the tokens on December 8 comes amid explosive growth of ICOs to raise money in cryptocurrencies. An ICO allows the issuer to raise funds without having to fulfil often rigorous regulatory requirements that would have to be met by venture capitalists or companies in mainstream markets. Some regulators say such schemes lack transparency and carry major risks. ICOs and bitcoin are banned in mainland China. Dragon investors will get tokens that can be exchanged for gambling chips in Dragon-affiliated casinos or they can hold the tokens for investment purposes. The proceeds raised will initially be used to support Dragon's junket operators by providing them with funds to establish systems that will exchange Dragon's digital tokens for gambling chips. The ultimate goal stated in the proposal is to fund the construction of a floating casino hotel which would only accept Dragon tokens. Some Macau watchers are sceptical of the business model due to increased scrutiny from Beijing and as more than 90 percent of punters in Macau originate from the mainland. "If it facilitates funds moving out from China it is subject to China's view on it," said Ben Lee, managing partner at Macau- based consultancy IGamiX. Macau's Monetary Authority said it had told financial institutions not to provide services directly or indirectly for tokens and virtual currencies due to considerable risks, including money laundering and terrorist financing. Macau's Gambling Inspection and Coordination Bureau did not respond to repeated requests for comment. Dragon's Ahmad said the ICO would not be affected by China's ban as many investors hail from Hong Kong and Macau as well as Japan, [http://mommysavers.com/?s=South%20Korea South Korea] and Russia. FORMER GANG BOSS Junket operators, also known as VIP room promoters, act as facilitators for Macau's huge casino resorts, such as those run by Wynn Macau and Sands China, and operate in a legal grey area where they are not permitted to provide credit facilities and collect debts in the Chinese mainland. Instead, they utilize an [http://www.vtr.org.vn/cam-nang-du-lich-bac-kinh-5-ngay-4-dem.html vtr.org.vn] opaque network of agents - making it harder to regulate the businesses. Dragon's Ahmad said the company planned to start operations in Indochina in January and Macau by the first quarter of 2018. The ICO grabbed attention when former Macau gang boss Wan "Broken Tooth" Kuok-koi, who served 14 years in jail for attempted murder, loan sharking and money laundering, attended a signing ceremony in September. Ahmad said that Wan was not tied to Dragon's junket partners. Lawrence Ho, head of Melco Resorts - with casinos in the Philippines and Macau - told Reuters he would be fine with junkets operating in his casinos using digital currencies, provided it was allowed by the regulator. Still, a Macau gaming consultant who declined to be named due to the sensitivity of the issue, said the ICO would likely set off alarm bells in Beijing. "It is clearly aimed at mainland players, who make up 90 percent of gaming volumes, giving them a digital way to circumvent the country's forex controls," he said. (Reporting by Farah Master; Additional reporting by Thomas Wilson in Tokyo; Editing by Martin Howell) Advertisement

12 Steps To Marketing Your New company On A Tight Budget

2018-06-14T08:14:48Z

HansCazaly67702:

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Ex-UN secretary general s nephew pleads guilty in bribe case

2018-06-14T00:35:27Z

HansCazaly67702:

NEW YORK (AP) - A nephew of former U.N. [http://www.ajaxtime.com/?s=Secretary-General%20Ban Secretary-General Ban] Ki-moon pleaded [http://www.vtr.org.vn/cam-nang-du-lich-bac-kinh-5-ngay-4-dem.html du lịch Bắc Kinh] guilty Friday in a bribery case that grew from [http://www.vtr.org.vn/cam-nang-du-lich-bac-kinh-5-ngay-4-dem.html vtr.org.vn] an attempt to sell a building complex in Vietnam for $800 million. Joo Hyun Bahn, also known as Dennis Bahn, pleaded guilty to conspiracy and a corruption count in Manhattan federal court as part of a deal with prosecutors. He has been free on bail for a year since he was charged with trying to pay $2.5 million in bribes to rescue the failed real estate deal [http://www.vtr.org.vn/cam-nang-du-lich-bac-kinh-5-ngay-4-dem.html tour bắc kinh từ hà nội] for [https://Knoji.com/search/?query=Landmark Landmark] 72, a Vietnam building complex that included a 72-story commercial building that was then the tallest building in the Indochina Peninsula. During his plea, the 39-year-old Bahn, of Tenafly, New Jersey, said he facilitated a bribe, and he knew what he was doing "was a bad act." Judge Edgardo Ramos set sentencing for June 29. In a release, acting Assistant Attorney General John Cronan said Bahn's bribery scheme and scams by others seeking real estate deals "seek to corruptly tilt the playing field to their advantage." "Bribery and corruption undermine fair competition and the rule of law," Cronan said. Manhattan U.S. Attorney Geoffrey Berman said Bahn would have earned a multimillion-dollar commission on the real estate deal. The charges carry a potential sentence of up to 10 years. The plea agreement Bahn signed with prosecutors says his federal sentencing guidelines range could be as little as three years or as many as seven years in prison. The judge, though, is free to deviate from the calculated range. Prosecutors say the scheme occurred from March 2013 to May 2015 when Bahn and his father, Ban Ki Sang, 70, of Seoul, South Korea, conspired to try to induce a foreign official to persuade a sovereign wealth fund to rescue the real estate deal. The father was charged in the case but has not been arrested. An indictment said a $500,000 bribe was paid to a local businessman to arrange a $2 million bribe of the foreign official. But the government said in court papers that the half million dollars was instead wasted by the businessman on lavish expenses, perhaps because he didn't have the connections he boasted about. Advertisement

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2018-06-13T21:11:09Z

HansCazaly67702:

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Indochina Sails Launches Special Pakage Promotion Cruise in HaLong Bay Vietnam

2018-06-13T17:35:55Z

HansCazaly67702:

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G7 agrees measures to respond to hostile Russian activity despite...

2018-06-13T14:35:59Z

HansCazaly67702:

Divisions over how to deal with Russia have been revealed as the G7 agreed a robust set of measures to counter hostile activity directed by Moscow. Theresa May�s tough line on Russia has been undermined by US President Donald Trump and Italian Prime Minister Giuseppe Conte who have suggested that Vladimir Putin should be readmitted to the group of world leaders. The Prime Minister insisted that Russia needs to �change its approach� before any consideration of whether it should resume its place in the group of leading industrialised nations after being thrown out in 2014. Theresa May (Steve Parsons/PA) Shortly before arriving at the summit in Canada Mr Trump said: [http://www.vtr.org.vn/cam-nang-du-lich-bac-kinh-5-ngay-4-dem.html tour bắc kinh từ hà nội] �Russia should be in the meeting, should be a part of it.� But Mrs May told the BBC: �We should remind ourselves why the G8 became the G7, it was because Russia illegally annexed Crimea. �We have seen malign activity from Russia in a whole variety of ways, of course including on the streets of Salisbury in the UK. �So we need to say, I think, before any such conversations can take place Russia needs to change its approach.� The Prime Minister has been at the forefront of diplomatic efforts to build an alliance against Russia after the Salisbury nerve agent attack on ex-spy Sergei Skripal and his daughter Yulia. Despite Mr Trump�s comments, the US had signed up to a G7 initiative to establish a new mechanism to respond to hostile activities directed by states such as Russia. Under the plans agreed by the UK, US, France, Germany, Canada, Italy and Japan at the summit in Quebec, there will be greater co-ordination to identify and respond to threats including cyber attacks and other breaches of international rules. Mrs May also pushed for action to tackle Russian �dirty money� and work to curtail the movement of Moscow�s spies. And the Prime Minister urged other countries to back giving the chemical weapons watchdog the power to identify states responsible for attacks such as the nerve agent poisoning in Salisbury. At the summit in La Malbaie, in the Charlevoix region of Quebec, the G7 leaders formally agreed to set up a new rapid response mechanism. Foreign Secretary Boris Johnson had already preempted the announcement of the measure in a leaked recording of him telling a private dinner that Mrs May would use the summit to set up the rapid response unit to �identify Russian malfeasance � whether it�s cyber warfare, assassinations, calling it out and identifying it�. At the summit the Prime Minister emphasised that recent events, including the reckless use of NotPetya ransomware and the attempted murder of the Skripals, demonstrated the importance of a unified international response. The new mechanism involves the sharing of threat intelligence and measures to protect physical and digital infrastructure from attack. It also calls for co-ordinated attribution of hostile activity so more countries name and shame perpetrators of cyber attacks and other abuses. In an effort to counter propaganda, the G7 leaders agreed to work together to assert a �common narrative and response� to incidents. At the summit on Friday, Mrs May said: �There is no doubt that foreign interference in our democratic institutions and processes, and other forms of hostile activity, pose a strategic threat to our shared values and interests. �So I welcome today�s agreement that the G7 will exchange information, co-ordinate action, and develop strategies to reinforce our democracies, strengthen our societies� resilience and uphold freedom of expression and a free and independent media in the face of this growing threat. �Today�s announcement shows that the G7 will not tolerate foreign interference in any one of our democracies, that we are getting organised, and that we will take coordinated action against those who seek to violate the rules-based international system. �Calling out malicious activity helps to end hostile states� false sense of impunity, demonstrates our awareness of their activity, and underlines our unwavering willingness to defend ourselves.� A senior UK Government source said despite Mr Trump�s comments �the Americans have been very clear in negotiating they are signed up to the rapid response mechanism�. Mrs May was also pushing the leaders to do more together as the G7 to better understand illicit money flows and then agree concrete actions to stop dirty cash being used to undermine democracy. The Prime Minister also called for G7 countries to share information so that Russians expelled from one state do not simply redeploy to another. Ahead of the Organisation for the Prohibition of Chemical Weapons (OPCW) special conference of states parties, expected to take place later this month, Mrs May urged her counterparts to back calls to allow the watchdog to point the finger at states behind chemical weapons attacks rather than simply confirming an incident has taken place and identifying the substance. The UK has called for a special [http://www.vtr.org.vn/cam-nang-du-lich-bac-kinh-5-ngay-4-dem.html du lịch Bắc Kinh 5 ngày 4 đêm từ Hà Nội] Conference of the State Parties to the OPCW. We call on all states to use this opportunity to defend [http://www.vtr.org.vn/cam-nang-du-lich-bac-kinh-5-ngay-4-dem.html vtr.org.vn] and strengthen the global ban on chemical weapons. #NoImpunity pic.twitter.com/xHh9Oe07oT [http://www.hometalk.com/search/posts?filter=-%20Foreign - Foreign] Office 🇬🇧 (@foreignoffice) May 30, 2018 Mrs May�s attempts to strengthen the international response against Russia comes ahead of a meeting with Italy�s new prime minister Mr Conte who has called for sanctions against Moscow to be eased. The Prime Minister told reporters accompanying her to the summit: �I�ve had a telephone conversation with the new Italian PM and I�ll be having further discussions with him here at the G7. �I will continue to make the case as I have done within the European Council of the importance of those sanctions against Russia. �They were of course part of the response that the EU gave in relation to Russian activity in Crimea, the importance that we get the full implementation of the Minsk agreement. � Advertisement

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2018-06-13T14:35:50Z

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