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

2018-06-23T02:56:51Z

SheldonCerda058:

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, 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 opaque network of agents - making it harder to regulate the businesses. [http://Www.Theepochtimes.com/n3/search/?q=Dragon%27s%20Ahmad 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 [http://www.vtr.org.vn/cam-nang-du-lich-bac-kinh-5-ngay-4-dem.html vtr.org.vn] 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; [http://news.Sky.com/search?term=Editing Editing] by Martin Howell) Advertisement

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

2018-06-22T21:45:27Z

SheldonCerda058:

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: �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 [http://Www.Paramuspost.com/search.php?query=streets&type=all&mode=search&results=25 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 [http://www.vtr.org.vn/cam-nang-du-lich-bac-kinh-5-ngay-4-dem.html du lịch Bắc Kinh] 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 [http://www.vtr.org.vn/cam-nang-du-lich-bac-kinh-5-ngay-4-dem.html du lịch Bắc Kinh 5 ngày 4 đêm] 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 [http://www.vtr.org.vn/cam-nang-du-lich-bac-kinh-5-ngay-4-dem.html vtr.org.vn] 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 Conference of the State Parties to the OPCW. We call on all states to use this opportunity to defend and strengthen the global ban on chemical weapons. #NoImpunity pic.twitter.com/xHh9Oe07oT - 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

Honour for rail boss should be withdrawn MP says

2018-06-21T01:26:44Z

SheldonCerda058:

A Labour MP has called for the honour bestowed on the Network Rail boss to be withdrawn. Mark Carne receives a CBE in the Queen�s Birthday Honours, on a list that also sees Liverpool football great Kenny Dalglish knighted and Oscar-winning actress Emma Thompson made a dame. (PA Graphics) Lisa Nandy MP said �there�s absolutely no way that the Government should press ahead with this award�. She told The World Tonight on BBC Radio 4 that the decision was �just another kick in the teeth� for rail travellers and should be withdrawn. �It�s the most astonishing thing to have happened in a week when commuters have been suffering from rail chaos�, she added. The Department for Transport admitted the timing of the announcement of the outgoing chief executive�s award for services to the rail industry following timetabling issues is �unfortunate� but added that recent problems should not detract from his overall service. But one union boss likened the timing of the honour to �rewarding the captain of the Titanic for jumping ship�. Manuel Cortes, general secretary of the Transport Salaried Staffs Association, said: �Frustrated passengers will see no honour in that at [http://www.vtr.org.vn/cam-nang-du-lich-bac-kinh-5-ngay-4-dem.html vtr.org.vn] all.� Network Rail launches digital rail strategy Remarkable females including a nun fighting modern slavery and a businesswoman who made her fortune in fake tan are among those honoured in this 100th anniversary year of women�s suffrage - although men outnumber women on the list. As the NHS celebrates 70 years since its foundation, medics are recognised for their dedication, with health sector workers making up 12% of the 1,057 people honoured. Helen Bamber Foundation funding Dame Emma, 59, who is described in the official citation of the honours committee as one of the UK�s most versatile and celebrated actresses, receives her honour for services to drama. The Remains Of The Day and Nanny McPhee star is joined on the list by fellow actor Tom Hardy, who is also recognised for services to drama, receiving a CBE, while Keira Knightley is made an OBE for services to drama and charity. Sir Kenny, who managed Liverpool at the time of the Hillsborough disaster and remained a steadfast support of the families in their lengthy quest for justice, said he was �hugely proud to have accepted the accolade� for services to football, charity and the City of Liverpool. The 67-year-old Glaswegian and his wife Marina have also helped raise millions of pounds for cancer treatment through the Marina Dalglish Appeal after she successfully battled breast cancer. `The Justice Collective: He Ain�t Heavy...� launch - Liverpool Joking that he thought the letter informing him of the knighthood had been from the taxman, he added of the achievement: �We only set out to do the best we possibly could, even through all the other stuff - the charity or Hillsborough, it was to help people because somebody helped us.� Following a wave of terror attacks which struck the UK in 2017, former assistant commissioner of the Metropolitan Police Mark Rowley, who led the national response, is honoured with a knighthood. On his retirement in March after 31 years in policing, Sir Mark was praised by Prime Minister Theresa May for his �dedication to protecting public safety and tackling the evils of terrorism�. Salisbury incident While there are no honours for local heroes involved in the response to the Grenfell Tower fire, the Cabinet has said it expects �acts of bravery and extraordinary community spirit� which emerged from the tragedy to feature on future lists, adding that its approach will be �time-appropriate�. The brother of aid worker David Haines, who was murdered by Islamic State extremists, is made an OBE for his work against terrorism. Mike Haines dedicated the honour, for voluntary service to tolerance and education in the UK and abroad, to his younger sibling, who was beheaded by Islamic State extremists in 2014 after being taken hostage in Syria. Billionaire Jim Ratcliffe, the boss of chemical company Ineos who this year topped the Sunday Times rich list with �21.05 billion, receives a knighthood for services to business and investment. Projekt Grenadier Sporting stars are well represented among the recipients, with Premier League and England striker Jermain Defoe describing himself as �blessed and humbled� to be recognised with an OBE for his services to the charitable foundation set up in his name. The honour comes almost a year after the death of six-year-old football mascot Bradley Lowery, with whom the player struck up a strong friendship as the little boy battled a rare childhood cancer. Defoe said it was the �proudest moment of my life� and added: �But it isn�t for me or about me. It�s for Bradley and those he loved.� The proudest moment of my life to be awarded an OBE. I�m blessed to have received the honour, but it isn�t for me or about me. It�s for Bradley and those he loved. I�d trade it all for him to be back in our lives, forget the goals and awards, it�s the memories I�ll cherish...💙 pic.twitter.com/Dcxua0t7bC - Jermain Defoe (@IAmJermainDefoe) June 8, 2018 World heavyweight champion boxer Anthony Joshua is made an OBE for services to sport, while 20-year-old alpine skier Menna Fitzpatrick, Britain�s most successful winter Paralympian, is the youngest on this year�s list, picking up an MBE for services to Paralympic sport. In the musical world, rapper and singer Ms Dynamite is honoured with an MBE, under her real name Niomi McLean-Daley, for services to music, while Mobo Awards founder Kanya King receives a CBE for services to music and culture. Japan-born Nobel prize-winning author Kazuo Ishiguro, knighted for his services to literature, said he was �deeply touched to receive this honour from the nation that welcomed me as a small foreign boy�. British Nobel Prize for Literature winner Former Second World War nurse Rosemary Powell, who at 103 is the oldest on the list, is made an MBE for voluntary [http://www.vtr.org.vn/cam-nang-du-lich-bac-kinh-5-ngay-4-dem.html tour bắc kinh từ hà nội] service to the Royal British Legion Poppy Appeal, having spent 97 years collecting for the charity. Renowned war correspondent Kate Adie is made a CBE for services to media, while Stacey Dooley, known for her BBC Three [http://Photobucket.com/images/investigative%20series investigative series] covering topics ranging from the fight against Isis to the abortion debate, receives an MBE for services to broadcasting. Among the politicians honoured are Conservative MPs Eleanor Laing and Bernard Jenkin, awarded a damehood and a knighthood respectively for their political and public service, while Labour�s Louise Ellman has also been made a dame for parliamentary and political services. Holocaust survivor Ber Helfgott, also known as Ben, is knighted for services to Holocaust remembrance and education, one of nearly three-quarters of those on the honours list deemed to have undertaken outstanding work in or for their local community. Stacey Dooley Investigates: Young Sex for Sale in Japan In healthcare, Chief Scientific Officer for NHS England Professor Susan Hill is made a dame for services to the 100,000 Genome Project and to NHS Genomic Medicine, while surgeon Nadine Hachach-Haram is awarded a BEM for services to surgery and innovation, having co-founded a company pioneering virtual access to surgery for people in remote areas. Veronica Donovan, a consultant midwife at Birmingham Women and Children�s NHS Foundation Trust, is made an OBE for services to midwifery, while palliative cancer care specialist Debra Smith receives a BEM for services to nursing. In the business sphere, Judy Naake, who made millions selling St Tropez self-tanning products, initially from the back of her car, receives an MBE for services to entrepreneurship, the community and philanthropy. Women: Inspiration & Enterprise Jo Malone, creator of the self-titled luxury [https://Www.herfeed.com/?s=perfumery perfumery] brand who has since started the fragrance-centred Jo Loves business, is awarded a CBE for services to the British economy and the GREAT Britain campaign, which encourages people to visit and invest in the UK. Sister Imelda Poole, president of European anti-trafficking network Renate, receives an MBE for services to combating modern slavery. Howard Tucker is awarded a CBE for services to international justice for his past work as a member of the UN International Criminal Tribunal for the former Yugoslavia. A former policeman in South Wales, he went to work in Bosnia to help bring people to trial for war crimes committed during the conflicts there in the 1990s. Of the total number recognised in the Queen�s Birthday Honours list this year, 210 have been made an OBE, 392 an MBE, and 318 awarded a BEM. Forty-nine percent of the honorees are women, while 10% of all those on the list are from black and minority ethnic (BAME) backgrounds. Advertisement

Vietnam seeks support for maritime freedom

2018-06-18T23:55:50Z

SheldonCerda058:

France and other countries should help to keep the peace in the disputed South China Sea, Vietnam's president told AFP Wednesday, as unease grows over China's increasingly muscular approach in the key waterway. China claims most of the sea where it has built up reefs capable of hosting military equipment, sparking ire from competing claimants, including Vietnam, and raising fears of potential armed conflict. Speaking to AFP ahead of a visit by French leader Francois Hollande next month, Vietnam's President Tran Dai Quang said he hopes France and others will help to diffuse regional tensions in the waterway, which it calls the East Sea. Vietnamese president Tran Dai Quang speaks during an interview with AFP at the presidential palace in Hanoi on August 24, 2016 �Hoang Dinh Nam (AFP) "We highly welcome the cooperation from France and other nations in the process of maintaining peace and stability in the region and the world and on the East Sea," he said, speaking from the presidential palace, the former [http://www.Answers.com/topic/residence residence] of the Indochina governor during French colonial rule. Hanoi and Beijing have traded diplomatic barbs over [http://Www.Lifebeyondtourism.org/?header_search=disputed%20island disputed island] chains and waters in the South China Sea and in 2014 China moved a controversial oil rig into contested territory, prompting riots in Vietnam. The strategic waterway, also claimed by the Philippines, Brunei, Malaysia and Taiwan, is rich in energy reserves, fishery resources and is a busy shipping route. Quang's comments come after French Defence minister Jean-Yves Le Drian said in June he would ask European countries to conduct coordinated patrols in the South China Sea. France and the United States have sent naval ships to the sea in recent months and have vowed to send more, angering Beijing. The [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] Vietnamese president, whose role is mostly ceremonial, said Hollande's visit would help to boost military ties between the former colonial foes, as Hanoi has rapidly increased its defence budget in the last decade. "Several directions for cooperation will be strengthened and opened, like... ensuring security, safety and freedom of maritime and aviation," Quang said in a statement to AFP after the interview. He added that Vietnam wants more unity in the regional 10-member Association of Southeast Asian Nations (ASEAN), which has failed to forge a unified front against Beijing's militarisation in the sea. "We have been active together with countries in the ASEAN community to increase unity, considering this an important structure to contribute to maintaining regional peace," he said. Last month Manila won its case against Beijing at a UN-backed tribunal in the Hague which rejected China's claims to most of the sea. Beijing boycotted the hearing, [http://www.vtr.org.vn/cam-nang-du-lich-bac-kinh-5-ngay-4-dem.html tour bắc kinh từ hà nội] and has refused to recognise the ruling, and ASEAN has sidestepped the issue, failing to comment directly on it at a meeting of ministers last month. Diplomats say Beijing has deftly courted Laos and Cambodia to split the bloc and blunt unified criticism. France and Vietnam signed a strategic partnership agreement in 2013, which included boosted defence cooperation. Filipino and Vietnamese protesters display anti-China placards during a call on China to respect their rights in the disputed South China Sea, in front of the Chinese [http://www.vtr.org.vn/cam-nang-du-lich-bac-kinh-5-ngay-4-dem.html vtr.org.vn] consular office in Manila on August 6, 2016 �Ted Aljibe (AFP/File) Advertisement

User:SheldonCerda058

2018-06-18T23:55:43Z

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