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VAT to introduce transparency, industry leaders say
With Value Added Tax (VAT) now in effect, industry leaders from various sectors express their views
By the time you read this, Value Added Tax (VAT) will have already come into effect in the UAE.
The Federal Tax Authority (FTA) had called on all UAE firms to take necessary measures to register for VAT, to avoid the risk of non-registration by 1 January, 2018, which would entail fines.
Businesses must register for VAT if their annual taxable supplies and imports exceed the mandatory registration threshold of AED375,000.
The failure of the taxable person conducting business to submit a registration application within the timeframe specified will entail an administrative penalty of AED20,000. The VAT registration form is available online on FTA’s portal and it should be completed by a person who is the authorised signatory of the business.
MEP Middle East spoke to several industry leaders over the course of a few months last year to find how what they thought about VAT and how prepared the industry is.
At the recent Big 5 tradeshow in Dubai, Abdulrahman A Khansaheb, the MD of Khansaheb Industries and director of Khansaheb Investment, said that there still remains some scope for clarity in the implementation of VAT.
Khansaheb said: “Not everything is crystal clear when it comes to the implementation of VAT. There are still some questions.”
He continued: “But I think it will need a few months for the authorities to clarify everything. We are updating our systems and procedures in order to incorporate the requirements of VAT. We also had our team attend workshops [on VAT]. We are internally keeping everybody up to speed on this.”
Khansaheb did admit though that VAT will be positive in the long run for the GCC. He said: “I think VAT will be good for the market as it will introduce transparency. Everything will be formalised and properly documented. It will be good in the long term.”
A survey of the Gulf's finance professionals found that real estate investments would become costlier following the implementation of VAT.
Results of the GCC CFA Societies survey, which covered Chartered Financial Analyst (CFA) professionals in the UAE, Bahrain, and Kuwait, revealed that 87% of the surveyed respondents believe that some – or all – of the additional expenses incurred by real estate firms due to VAT would be passed on to investors.
VAT is set to be applied on the first sale of properties.
Additionally, 54% of CFA Society members from all three Gulf countries said that retail investors would be more impacted by VAT than institutional investors, with 4% stating that institutional investors would be more affected.
The majority of the surveyed professionals said that “their international business partners are not deterred by the introduction of VAT”.
However, 18% of the respondents stated that VAT is “creating a negative reaction” within the international business community.
Commenting on these findings, Amer Khansaheb, the president of CFA Society Emirates, said: “The concerns regarding VAT in the region are largely [to do with] perception rather than policy.
“While it is true that certain areas of the economy will witness marginally higher costs being incurred, this should not deter regional and international investors in a significant way.
“Additionally, with the government revenue this will generate, liquidity levels in the market are expected to improve, which should increase investor confidence and appetite.”
He said that VAT would lead to the creation of a more regulated financial environment that promotes greater transparency.
“Given that taxation at higher rates is a norm around the world, the GCC will continue to be attractive as average tax rates are lower than almost all other major markets,” he said.
In an earlier interview, Rahul Duragkar, managing director, Emitech, voiced similar views. He said: “VAT will bring in a lot of transparency because in a tax-free era, people tend to put in random figures. With VAT, everybody will be liable to report the names and financials in a more tangible manner because there will be more focus and more onus on the auditors and the financial managers to report the correct figures. It will bring a lot of corrections in the market and I hope the banking sector will be happy with that.
“So it is a good thing. It should bring some kind of a positive impact for companies like us who are growing, and we want to get support from financial institutions.”
Talking about the specifics of VAT implications on the different sectors, Sam Emery, finance director at UAE-based facilities management company Emrill, said: “The implications are expected to be the same for the majority of sectors with some differences within certain specialist industries such as the real estate and financial services sectors.
Essentially an additional 5% VAT charge (with specific rules subject to announcement by the Ministry of Finance) will be applied by businesses on all goods and services sold (except where zero-rated or exempt).
“General implications for businesses may include an additional administrative burden on staff, stress on working capital as a result of little or no prior cash flow planning, and lack of understanding as a result of no training or investment in education. This could lead to incomplete VAT returns ultimately resulting in fines and penalties.”
All companies will have an initial period of adapting to the new requirements, Emery said. “Some companies will find it easier than others depending on the complexity and volume of transactions, and the competency levels of existing accounting staff. In the short term, problems may arise from the lack of understanding of applicable transactions, additional administrative requirements, and the introduction of new modules within the finance system. In addition, some companies could experience cash flow issues, as VAT payments need to be made on time in order to avoid fines and penalties.
“On the other hand, if companies spend time in the planning phase, then over the long term they can benefit from overall process efficiencies including effective documentation control and a more effective approach to cash-flow planning, albeit forced on them by the new tax regulations.”
However, contrary to the belief that VAT will introduce transparency, according to John Voyez of accountancy firm Smith and Williamson, fraud will be one of the big issues tax authorities in the UAE will have to deal with.
Voyez said: “I would unfortunately suggest that there is maybe going to be a lot of fraud about, because you'll find that a lot of people will make up a VAT number, issue an invoice with an extra 5% attached and not account for the VAT to the tax authorities.”
Voyez was speaking at the Excellence in Construction summit at The Big 5 tradeshow. He said that there will be compliance issues in the year 2018.
Fabio Sbacches, MEP manager and project manager at LC & Partners Engineering Consultants, however said that VAT won’t affect anything in this region. He added: “Only the client will be affected. Because all the companies will take the 5% and pass it on to the subcontractor. In Europe and US, VAT has been there and it is not causing any problems to companies.”
The long term
Jayant Balan, senior vice president and director of international operations business group at Voltas Limited, said VAT would generate a lot of revenue for the region. He said: “The introduction of VAT is an expected and logical step to generating and increasing non-oil revenues for the governments in the region.
“This will allow them to fund required infrastructure and other developments – which is clearly a good thing. As businesses, we have to follow both process and regulations, and ensure that we comply with requirements,”said Balan.
“We are increasingly receiving more detail and clarity on rules and regulations, and are in constant and ongoing discussions with our advisors, to prepare ourselves as best as we can. No doubt, there will be some uncertainty and some teething issues we will have to deal with – which is normal. There will also be some cost impact, definitely for compliance and for associated people and systems resources.”
In a mid-2017 interview, Balagopal Nair, marketing & business development manager at Faisal Jassim Group, said that it’s always best to have a positive frame of mind in this whole VAT situation.
Nair summed up VAT in the Middle East with these words. He stated: “The introduction of VAT in GCC will definitely bring inflation in the market. The cost of construction would go high which will be affecting everyone in the industry. This would be difficult for the industry to accept in the beginning.
“But we believe if we can stay positive in a negative situation, we will win. So, we need to look at VAT with a positive frame of mind as this would stimulate the economy and subsequently encourage further economic growth in the region as well more job opportunities, as we expect the government would fund more on infrastructure and on other developments which will reap more revenues for the entities like us.”
Just to give some perspective. VAT in countries like Denmark and Sweden go beyond 20%. So, the 5% is at the low end of the spectrum. For now.


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A scenic setting in Visalia is the center of the state's pecan industry. The split husks are almost ready to be shaken off these 35-foot tall trees.
Barrett Blain's father Brian planted this orchard back in 1974.
Blain said, "We got into pecans to diversify. At the time there were a lot of walnut plantings in California."
But now Blain Farms is California's biggest pecan producer with 800 acres.
More than two million pounds of pecans are grown in the south valley. The company is responsible for 80% of the state crop.
Blain explained, "California is really the last frontier for pecans. There's really no other really state in the country where there's as much potential for growing pecans."
At its store in Visalia "The Naked Nut," the company shells and processes the nuts and sells pecan halves, chocolate covered pecans and pecans for pie.
Charley Phillips of Atlas World Food and Agriculture said global demand for pecans has exploded. "From China to the middle east, everywhere from Africa to European countries, those people want product as fast as they can."
Phillips said the pecan industry needs more acreage and willing growers to meet a rapidly growing demand.
Barrett Blain is doing his part. He has hosted pecan growers from other countries and also travels overseas to offer tips to those looking to establish orchards.

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The Country Range Group (CRG) is flying, and suppliers not already doing business with the company are in serious danger of missing out.
That was the message from CRG directors Colin Birchall and Mike Watson, delivered to a record attendance of 300 delegates at the group’s annual conference.
Trading director Mike Watson told delegates that the group had achieve branded and own label sales increases of 12% and 15% respectively in 2005, and that growth had increase to 17% in both categories in the first half of 2006.
‘Growth’ was also the theme for the address by CRG managing director Colin Birchall. He said: “Our growth comes through focused hard work, attention to detail and making fewer mistakes than our competitors.”
Birchall said there was “zero tolerance of poor standards and lack of resources in the increasingly demanding foodservice marketplace”, and he concluded by telling members to “expect change, expect questions – and expect growth”.
The conference also heard an overview of an independent customer satisfaction survey conducted among CRG member companies.
“The study revealed the strengths and weaknesses of CRG and compared the performance of member companies against our key competitors, 3663 and Brakes,” said Birchall.
“It confirmed our members as top performers in the five key criteria of competitive pricing, having a comprehensive product range, reliability, ease of ordering, and order to delivery time. CRG also came out top in eight of the further 10 other areas covered by the research.”
The CRG event comprised an 80-stand supplier exhibition, gala dinner and conference at the Ricoh Arena, Coventry.


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8th September 2020
BUSINESSES in the north could face “serious challenges” when the UK government’s furlough scheme comes to an end next month.
That is the warning made by the chief executive of the Caithness Chamber of Commerce, Trudy Morris, who would like to see the continuation of the financial support “in the coming months”.
She is concerned “the sudden loss” of the scheme, which has provided financial help for firms during the coronavirus crisis could create “a cliff-edge” for businesses across the north.
The funding package was announced by the Chancellor of the Exchequer, Rishi Sunak, when the UK went into lockdown in March. At that time, firms could claim 80 percent of the wages of furloughed staff – up to £2500 – although that figure was reduced to 70 per cent at the start of this month. Employers pay 10 per cent to ensure staff still receive 80 per cent of their wages. The scheme will finish at the end of October.
Ms Morris said: “The furlough scheme has brought significant relief to businesses over the lockdown period, and has helped to prevent significant job losses that would otherwise have been unavoidable. In recent months, with the added flexibility to bring employees back part-time or to bring them on and off furlough, it has been a key part of enabling businesses to get their operations back up and running. With physical distancing restrictions still in place, it remains difficult for many businesses to bring back all their staff at one time and the furlough scheme has also played a key role in enabling these businesses to continue to operate at a reduced capacity.
“While the past few weeks have shown some promising green shoots of recovery in the region, particularly for the hospitality and tourism sector, we are aware that many businesses will need continued support through the winter and into next year. A ‘cliff edge’ in terms of sudden loss of support through the furlough scheme could bring serious challenges to businesses across the north Highlands.”
She added: “The support provided to businesses throughout the pandemic has been welcome and recognises the key role that business plays in our local communities. It is important that the good work done so far is not lost for want of a few months of additional assistance. As a chamber, we are continuing to lobby both Scottish and UK Governments on the importance of understanding the needs of businesses in the North Highlands and to continue to provide tailored support in the coming months.”
Speaking earlier in the year, the chancellor said: “Our Coronavirus Job Retention Scheme has protected millions of jobs and businesses across the UK during the outbreak – and I’ve been clear that I want to avoid a cliff edge and get people back to work in a measured way.”
Figures show the job retention scheme has protected 7.5 million workers and almost one million businesses.
Source – John O’Groat Journal


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Posted by SchoolDays Newshound on 03/09/2013. Tags: Secondary School News
A lack of choice is resulting in parents in Ireland overpaying for their children's ebook education, it has been suggested.
Don Myers, President of the National Parents Council Post Primary, explained schools are insisting that pupils use over-priced iPads, even though there are cheaper tablet devices available that deliver the same ebooks, the Irish Independent reports.
More than 20,000 students are being assigned tablets for digital learning purposes this year, with over 100 of the 730 secondary schools
in Ireland encouraging this approach.
Mr Myers noted: "Schools are specifying iPads, which cost up to €500 before [you buy] ebooks ... I'm aware of other companies offering ebook solutions on Android devices for just €200."
He claimed many people do not understand that there are cheaper alternatives to the iPad that students can use for the same purposes, adding that while the Apple device is undoubtedly a good product, its high price means it is unsuitable for education.
Written by Donal Walsh
When we went to the meeting regarding the use of Ipads in my sons secondary school. It was a done deal with a particular company with no choices been given. The price was way to high and it was stipulated that books could only be uploaded on to Ipads brought through this company. I was very annoyed as the cost was just under 1000euros and we had to buy three years book downloads. His bag hs not got any lighter due to Ipad because he still has work books and copies to bring in each day.


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DigiPlus aims to expand its user base and attract younger demographics.
The Philippines.- DigiPlus Interactive Corp (previously Leisure and Resorts World Corporation) has forecast a revenue increase of 10-20 per cent for this year. That comes after a 306 per cent increase to PHP27.3bn last year.
Andy Tsui, president of the company, a media briefing that the aim was to expand the company’s user base from 20 million to 25-30 million users by the year’s end by enhancing marketing efforts, particularly in provinces beyond Metro Manila, where the majority of its user base is concentrated.
The company aims to attract more users in the 30-45 age bracket by introducing new gaming offerings tailored to their preferences. Allocating PHP1.5bn to PHP2bn for maintenance capital expenditures, DigiPlus plans to invest in technology and game development, upgrading existing sites to remain competitive.
Tsui said the company is also looking at expanding overseas, particularly in countries with large Filipino communities since its games are designed to meet Filipino preferences.


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Greenpeace USA released its second annual canned tuna rankings this week, bringing both good and bad news. Some companies moved up significantly in the rankings by offering their customers more ethical products. But others faltered.
While the U.S. is the largest canned tuna market in the world, it has “failed miserably to offer responsibly-caught options,” Greenpeace Oceans campaigner David Pinsky told TriplePundit. But he said the latest rankings offer a glimmer of hope that the canned tuna industry can be sustainable.
“This latest ranking is a hopeful sign,” Pinsky told us. “A growing number of retailers are realizing that it's good for business to offer more sustainable and ethical canned tuna.”
Chicken of the Sea is owned by Thai Union, the world’s largest tuna company, and it is the third largest U.S. tuna brand. Last year it ranked No. 11 our of 20 companies, but this year it slipped down to No. 14.
According to the sustainability commitment posted on its website, the company has a vision that the seafood industry will respect oceans, protect marine life, and offer “safe and legal employment for millions of people around that world.” However, the company does not address how it will provide responsibly-caught products.
Bumble Bee is the largest shelf-stable seafood company in North America, occupying over a quarter of the U.S. canned tuna market. It came in No. 17 out of 20 on the rankings, down from No. 12 last year.
While Bumble Bee publishes sustainability and social responsibility policies online, plus a way for customers to trace its tuna, Greenpeace says the company's standards “should be stronger." The company offers some responsibly-caught options under its Wild Selections label, but offers none under its flagship brand.
Starkist sells the most canned tuna in the U.S. and it ranks 20th: dead last -- the same as last year. One of the reasons for its poor rating is that the company states on its website that it is “committed to leading the global seafood category by providing great tasting and healthy products that are sourced responsibly.” Yet, it does not explain how it is protecting human rights or taking steps to make sustainable fishing a priority.
“It's now up to Chicken of the Sea and the other big brands to read the writing on the wall and commit to better products and policies that put the oceans and seafood industry workers first,” Pinsky said.
Wild Planet has stayed at the top of the list for two years in a row. Greenpeace calls Wild Planet “an eco-brand dedicated to greening store shelves and driving industry change,” and ranks all Wild Planet and Sustainable Seas brand canned tuna as ocean safe products. And it has a “strong, implemented sustainable sourcing policy,” according to Greenpeace, plus it offers information about its products online. All of the seafood it sells is pole-and-line or troll caught, two fishing methods that have minimal impact on other marine life.
Wild Planet has updated and strengthened its procurement policy since last year by stating its commitment to social responsibility. The company uses the Monterey Bay Aquarium Seafood Watch Program's rankings of seafood as a guide in selecting product sources. Most of its products are rated green by the program, the most sustainable options, and it does not source any red-listed products, which the program ranks as fish to be avoided.
American Tuna is tied with Wild Planet for first place after coming in second last year. Like Wild Planet, all of its products are pole-and-line caught and traceable from source to can. Issuing a public policy increased the company’s rankings from last year to this one, Greenpeace says. On its website, the company states that it does not “source from fishing operations engaged in shark finning or other wasteful fishing practices,” nor will it source from companies that are associated with illegal operations.
Whole Foods moved up from fourth to third place this year. In March, the company became the first U.S. retailer to commit to selling 100 percent sustainable canned tuna. By January 2018, all canned tuna and tuna sold in Whole Foods stores will meet the company's sustainability requirements.
Under the new policy, all canned tuna must be sourced from fisheries that use only pole-and-line or troll catching methods, and be certified sustainable by either the Marine Stewardship Council or rated green or yellow by the Monterey Bay Aquarium and the Safina Center. Every supplier is required to use software called Trace Register that tracks each lot of tuna from vessel to can.
Image credit: Wild Planet
Gina-Marie is a freelance writer and journalist armed with a degree in journalism, and a passion for social justice, including the environment and sustainability. She writes for various websites, and has made the 75+ Environmentalists to Follow list by Mashable.com.
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Samsung and OnePlus are two Asian manufacturers who want to prove that the American and European markets are not necessarily better. And we have to admit that it’s mission accomplished, although some people don’t like it. Samsung remains the second most successful smartphone vendor in the world, being dethroned from the first position recently by the Chinese brand Huawei.
T-Mobile continues to bring software updates for smartphones, and it’s now the turn of the Galaxy Note 10+ 5G and OnePlus 8 5G models. The Samsung phone is being updated to version N976USQS3CTI8. This update arrived several days ago, and it includes the October 1, 2020 security patches.
The OnePlus 8 5G also gets an update. Reddit users say that version 10.5.22.IN55CB is the one received by the new update that is now rolling out.
Credit for the two images goes to TmoNews.
Samsung Galaxy Note 10+ 5G owners will either have to wait for the update to arrive automatically or check for its availability in Settings > Software update. Those owning an OnePlus 8 5G can check for an update by going into Settings > System > System update > Check for update.
Samsung Galaxy Note 10+ 5G or OnePlus 8 5G?
It’s difficult to decide which one of the two phones is better. While the Samsung model has 12 GB of RAM, the OnePlus 8 5G has only 8GB. The latter features a 48MP triple camera setup on the rear, while Samsung’s gadget only has a 12MP main camera. The Galaxy Note 10+ 5G features an Exynos 9825 processor, while its ‘rival’ is packing a Snapdragon 865 chipset.
Even the prices of the two smartphones are pretty similar to each other, and they’re both pretty demanding. You can buy the OnePlus 8 5G for about 650 euros, while Samsung’s device is worth about 700 euros. However, we can expect a lot more smartphones to enter the 5G realm in the upcoming months.


text: Today's dumbass shows us how NOT to shoplift. A woman in Britain went into a grocery store being pushed in a wheelchair. Security workers in the store became suspicious when they spotted her getting out of the wheelchair and walking around. Camera footage showed that while she was miraculously walking, she was also grabbing merchandise and stuffing it in her coat...and the guy pushing her was stealing too. It's bad enough to steal, but even lower to fake being handicapped while doing it. Wow.


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Stellapps, a tech startup that tracks milk through the supply chain, is looking to apply wearables to the agriculture field, specifically cows.
The Bangalorean company created a step counter and its CEO describes it as “Like a Fitbit for cattle.”
The device, technically labeled the “mooON,” goes around a cow’s leg and can track its activity levels, CNN Business reports.
CEO Ranjith Mukundan says healthy cows produce more milk and that cows move less when they are sick and move more when they are ovulating.
Stellapps combines information the step trackers collect with data farmers and vets put into a smartphone app.
The app sends alerts for routine protocols such as artificial insemination and vaccinations.
In the world’s largest dairy industry, Stellapps is used by approximately 3 million dairy farmers in India.


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Nearly three-quarters of marketers in North America said that knowing how customers spend time in the real world helps inform their future marketing efforts.
In a survey of 50 US political marketers by Centro, 77% said programmatic is key to their campaigns this year.
Using location data to personalize ads has given a lift to marketers trying to engage with their target audience. But driving customers into the store? That's not so clear.
A global survey focusing on new technologies identified some as confusing, but others as both confusing and overhyped.
Fully 87% of US internet users report having a presence on social media, but some six in 10 don’t believe their personal data is being protected, a new survey finds.
The complicated nature of the ad supply chain makes it difficult for advertisers to determine how much money they send to vendors. While this makes it tough for researchers to quantify the “tech tax,” several companies have recently examined how much media spend winds up in the hands of ad tech firms.
According to a Forrester Consulting survey of decision-makers responsible for tech procurement, nearly half said they plan to make a major investment in AI within the next year.
Were you paying attention this week? Show us and brag! Take our new Weekly Data IQ Test and flex your digital marketing and advertising acumen.
Consumers have heightened expectations about corporate responsibility. Product quality and cost are still more powerful drivers when it comes to actual purchase decisions, but concerns about brand purpose are a primary factor for a significant number of buyers.
Now that AT&T's bid for Time Warner has been cleared, what other combinations may go through? In the latest episode of eMarketer's "Behind the Numbers" podcast, we discuss the shifting landscape and how will it affect the ways that viewers access and consume programming.
TV industry professionals are anxious that new technology could threaten their jobs.
Today on the "Behind the Numbers" podcast, we zoom in on the advertising markets of Latin America in a conversation with eMarketer's regional specialist, Matteo Ceurvels, and forecasters Andrea Szasz and Eric Haggstrom.
Emotions play a role in shopping behavior even if consumers don't think that they do. According to a recent survey of UK and US internet users by analytics firm Clicktale, 78% of respondents believe they are rational when they shop. Yet 40% said they shop to calm down, and 74% have "stress-shopped" in the past.
Americans are spending less time with most major media, with one major exception: smartphones.
Switzerland has one of the highest digital buyer penetration rates in the world, according to eMarketer’s first-ever retail ecommerce forecast for the country.
Marketers have never had more data about their audiences, or more tools to wrangle that data and make it actionable. But the ideal of a data-driven brand experience, tailored for each customer, is still far from a reality for most marketers who struggle to make omnichannel, real-time connections and deliver meaningfully personalized offerings.
Maximiliano Firtman, a mobile web developer and founder of ITMaster Academy, talks about the advantages and challenges associated with technologies that can give mobile web users an experience closer to that of a native app.
In this week's 'Behind the Numbers' week in review podcast, we unearth the digital data behind the week's headlines, and take a look ahead to what's in store next week.
User acquisition is a major app marketing goal, but the next step for retailers is boosting users' lifetime value, since fostering loyalty can pay off down the road.
Michael Zimbalist, chief strategy and innovation officer at the Philadelphia Media Network, discusses the changing relationship between publishers and the internet's biggest behemoths.


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UBER users could end up on the buses after the taxi app’s boss revealed he wants it to run public transport systems.
Dara Khosrowshahi, chief executive of the ride-sharing tech firm, told a conference: “I want to run the bus systems for a city.
"Be able to take an Uber and get into the subway…get out and have an Uber waiting for you.”
He said Uber could be a platform for other transit providers, like the way Amazon operates with its third-party sellers.
“Cars are to us what books are to Amazon,” Khosrowshahi said.
The controversial firm is already trialling bike-sharing in San Francisco.
Would you order an Uber bus to get to work?
MOST READ IN MOTORS
It also has a food delivery app, a trucking app and is working on a self-driving car project, in competition with Google.
The company also revealed a £3.2billion annual loss, caused by marketing spending in the US in an attempt to improve its image.
It is appealing Transport for London’s decision to revoke its licence.
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Originally created out of a love for vintage denim and its Americana roots, Current/Elliott brings a similar sensibility to its men’s offering, infusing modern elements into denim and sportswear classics. This inaugural collection transports consumers back to the eclectic commune of artists, surfers and musicians residing in Topanga Canyon during the 1960’s and 1970’s – where early traces of Southern California surf culture can be found. Alongside the full range of denim styles, the men’s collection will feature heritage tees, shirting and other timeless staples.
CEO Jack Schwefel noted that this expansion into menswear has been an organic evolution for the brand. “We are very excited for the launch of our men’s line. It is a natural progression as Current/Elliott has always been a fashion brand inspired by iconic men’s silhouettes. Kirk has worked with the entire design team to create a synergy and make our long time vision a reality.”
The collection will be sold on CurrentElliott.com and at the brand’s first brick-and-mortar store in Venice, on California’s famed Abbot Kinney Boulevard, along with select retailers nationwide.


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Microsoft's acquisition of Activision Blizzard would bring game-making savvy for building virtual worlds capable of evolving into the metaverse that tech companies see as tomorrow's internet for work, play and commerce.
Activision Blizzard's experience could help Microsoft build the metaverse as an interconnected, persistent virtual world with its economy. People would interact in that world using three-dimensional avatars and immersive technology like virtual reality (VR) or augmented reality (AR). However, the metaverse is still years from becoming a reality.
Microsoft's $68.7 billion acquisition, announced this week and expected to close in 2023, provides the company with a long-time developer of virtual worlds for gamers. Activision Blizzard's roleplaying game World of Warcraft has given the game maker key insights into engaging people in and monetizing a persistent online environment, said Jeremy Bailenson, founding director of Stanford University's Virtual Human Interaction Lab.
"Microsoft has solved, via acquisition, the hardest problem of the metaverse: getting people to actually spend time inside these virtual worlds," he said. "The amount of expertise gained from absorbing the minds who created and maintained World of Warcraft -- still at almost 5 million users after two decades -- is an epic win."
Big tech companies have touted the metaverse's ability to reshape the internet, including the way people collaborate at work. Facebook rebranded itself as Meta last year to reflect its commitment to the metaverse and has released in open beta a VR-based workplace collaboration product, Horizon Workrooms. BlueJeans by Verizon will launch a virtual workspace called Spaces this year. Microsoft intends to integrate Teams with its VR and AR platform Mesh this year, bringing virtual meeting spaces and cartoon-like avatars to video meetings. The efforts represent a push to collaborate in virtual places -- an early step toward moving work to the metaverse.
Facebook, Verizon and Microsoft are among those firms jostling for a piece of the metaverse economy that Constellation Research estimates could hit $21.7 trillion by 2030. Constellation expects game companies like Sony, Epic Games, Valve and Tencent to be instrumental in building that economy by creating virtual worlds and experiences or developing the AR and VR hardware that allows people to access the metaverse.
Microsoft CEO Satya Nadella acknowledged that game makers would be an essential part of metaverse development in his remarks about the acquisition.
"Gaming is the most dynamic and exciting category in entertainment across all platforms today, and will play a key role in the development of metaverse platforms," he said in a statement.
Game developers can help tech companies meet some of the challenges of creating the metaverse, since they've been working on the problems for years, said David Lindlbauer, assistant professor at the Human-Computer Interaction Institute at Carnegie Mellon University.
For example, movement in VR can cause motion sickness in some people, so VR game makers mitigated the problem by introducing teleportation to different environments. Tech companies could use that mechanism in the metaverse to let workers move across a virtual conference hall without feeling sick.
"Games have always been on the forefront of introducing mechanisms to interact with the [digital] world," Lindlbauer said. "Gaming is a very viable test bed. It allows you to explore the limits."
Activision Blizzard has monetized its virtual worlds. Players in World of Warcraft buy in-game items like pets and mounts with real money. Activision Blizzard's history with these transactions and knowledge of what pitfalls to avoid should be helpful to Microsoft at a time when companies are still trying to figure out how to charge for the metaverse.
By incorporating Activision Blizzard's knowledge, Microsoft can avoid reinventing the wheel as it builds the metaverse. Activision Blizzard itself has recognized the value of its expertise. In a December essay for marketing publication The Drum, company executive Jonathan Stringfield wrote that metaverse-focused tech firms would be wise to pay attention to gaming.
"Those with serious aspirations to understand or build the metaverse in 2022 have the opportunity to start their journey in the multiple 'metaverses' that currently exist in the gaming ecosystem, lest they otherwise merely tread the virtual footsteps of the gamers that came before them," he wrote.
Mike Gleason is a reporter covering unified communications and collaboration tools. He previously covered communities in the MetroWest region of Massachusetts for the Milford Daily News, Walpole Times, Sharon Advocate and Medfield Press. He has also worked for newspapers in central Massachusetts and southwestern Vermont and served as a local editor for Patch. He can be found on Twitter at @MGleason_TT.


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The Professor Posted July 23, 2015 Report Share Posted July 23, 2015 I love it when old companies put real effort into keeping classics alive in the modern age! Converse has announced a new shoe, an all-new redesign of the classic Converse Chuck Taylors. The new shoes look nearly identical to the classic Chucks, but they've been completely rebuilt from the ground up with Nike technology so the new Chucks are far more comfy to walk around in all day. When I first read this I was a bit hesitant about this idea of Nike ravaging the classic Converse formula. As it turns out, Nike bought Converse in 2003 after it went bankrupt, effectively saving the company. So without Nike, Chucks wouldn’t actually still exist. The new shoes look like they stay true to the classic Chuck Taylor formula while being a whole heck of a lot more comfortable. I'm excited to try on a pair of these You can see more of the Chuck IIs at the official website: http://www.converse.com/s/converse/landing-chuckII?CSINT=HP_hero_ChuckII&siteID=TnL5HPStwNw-Acu1BsdpmNyBv5.HupqbvA Link to comment Share on other sites More sharing options...
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There is no logical basis for tiered pricing of data, including phone calls, texting, and internet access. Data is not like water, or even electricity for that matter. It doesn't cost significantly more to provide unlimited amounts once you have build out the capacity for it. The costs of keeping track of, billing and limiting data is far greater than the marginal costs of providing unlimited data. (This is, of course, one of the key points of net neutrality.)
Customers also hate tied pricing and unpredictable billing associated with it. In fact, customers hate is so much, they will go to great lengths, to avoid it. Companies that only offer tiered pricing are always beat by companies that offer fixed pricing. So it's only when customers don't have a choice that they will reluctantly accept tiered pricing.
Despite all this, AT&T (and Verizon) are desperate to fight the battle against fixed pricing (unlimited plans) and institute tiered pricing over the wishes and best interests of their customers. They talk about "data hogs" but what they really want is to bleed customers like stuck pigs. Unfortunately, they haven't completely been able to buy up all their competition and force customers to accept tiered pricing, yet. But they're working on it.
In the meantime, they keep trying to float the "tiered pricing" trial balloon in the media, always with embarrassing results. Never-the-less, their PR flacks are ordered to keep trying and so we get this completely fake "news" story planted in the Chicago Sun Times today that says fixed pricing's days are numbered:
So what's the news here? Nothing. In fact, all evidence points to the opposite of what is being "reported." AT&T and Verizon are expanding unlimited plans, not shrinking them, and MetroPCS seems to think phones with unlimited talk, text and data should only cost $40 a month (they even pick up taxes).
The only "evidence" provided that tiered pricing is needed is that "3 percent of smart-phones account for 40 percent of traffic on AT&T's network." Of course, the truth about this statistic is that 97 percent of AT&T smart phone customers aren't using their phones as much as their phones are capable. That is, most people are playing a lot for 24 hour access to data they never use. This is the truth behind fixed pricing. That people end up paying extra for stuff they don't use. 97 percent of people in this case. That's why AT&T is hugely profitable right now.
So what are the sources to prove that "tiered pricing" is inevitable? A months old quote by AT&T exec Ralph de Vega which he has already half retracted and an analyst who offers "The main point is to start to educate customers away from what they were trained to think…"
How can they be educated by AT&T to stop thinking they don't want to pay wildly fluctuating bills? With fake news stories about a fake upcoming crisis that will require tiered pricing?
Right now, AT&T is the most profitable cell phone provider primarily because it is making tons of profits off the iPhone. The iPhone offers fixed pricing on internet access (something Apple insisted on) and AT&T wants to kill that. It knows it can't now, but it wants to in the future. So it thinks it needs to lay the ground work with fake news stories so later when it takes over smaller companies, kills competition, and gets government to support anti-competitive practices it will be in a position to force tiered pricing as "necessary."
It is staggering that the leadership of AT&T cannot understand that simply wanting something is not the same as needing something. And that there are things you might want that are bad for you. Like bleeding your customers dry for no reason other than short term profit gains. They seem oblivious to the history of business and technology that shows time and time again that companies that fight against the best interests of their own customer ultimately lose. If AT&T got what it desired, a monopoly on cell phone traffic and tiered pricing, it would create a massive market for a new technological breakthrough that would provide fixed pricing to customers who dumped AT&T. If it wasn't for it's lucky deal on the iPhone and Apple's foresight in insisting on fixed pricing for the iPhone data, AT&T would probably be bankrupt now. That it is unable to understand it's good luck with iPhone and learn from it, is staggering.
But since AT&T isn't capable of thinking like a new technology company, and focusing on innovative ways to serve it's customers better, it instead wastes valuable resources planting these fake news stories in dying media like newspapers. The purpose, of course, is to try to confuse the issue enough so AT&T can make backdoor deals with the FCC and other carriers and force tiered pricing down customers throats.
The brass ring for short term thinking AT&T execs is not getting the 3 percent of "data hogs" to pay more. Those tech savvy high use users will be the first dump AT&T if it has anything truly resembling real tiered pricing. The goal is to force those 97% of people who don't use a lot of data to occasionally pay extra if they bump over a fixed limit. Much as AT&T likes to talk about billing people for data "like water" the reality is people will simply stop using their phones much if they have to pay for every bit. The goal is to create occasional billing spikes when a customer does something unexpected to bleed an extra twenty bucks out of someone who is already struggling with monthly bills.
It won't work and AT&T probably knows it won't. But their leadership probably thinks it's "worth a try." After all, they confused people for a couple decades with bullshit billing for "minutes" and "rollover minutes" and "nighttime minutes." Why shouldn't it work again this time? But let me be the first to tell them that really need to knock this off. This is not 1970. Whether AT&T gets it or not, they are at a technological crossroads. And if they don't get their act together soon, they will be left behind like AOL, GM, and other big corporate dinosaurs who stopped serving their customers and thought their customers should serve them.


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In the wake of Taylor Swift clarifying her reasons for opting out of Spotify, the streaming service's CEO took to the company blog to offer a rebuttal. Daniel Ek says that "a top artist like Taylor Swift" can earn more than $6 million per year from the outfit, and that number only stands to rise. Of course, labels are the ones who arrange licensing agreements, so we can't be sure how much of the money is actually making it to Ms. Swift and her cohorts. Spotify on the whole has shelled out over $2 billion in royalties thus far, and its looking to be clear about how it works. "We will do anything we can to work with the industry to increase transparency, improve speed of payments, and give artists the opportunity to promote themselves and connect with fans," says Ek. "That's our responsibility as a leader in this industry; and it's the right thing to do." So where is that money coming from? Of its 50 million users, 12.5 million are paid subscribers, accounting for $120 each per year in monthly fees. Some quick arithmetic indicates that sum to be $1.5 billion, and the rest of the lot are generating revenue from ad-supported streaming.
Ek also takes on the argument that streaming options like his are hurting album sales. In the post, there are several examples of artists that held both the number one spot and were available on Spotify at the same time. He's also quick to point out that album sales/downloads on the whole continue to decline, citing slumping numbers in Canada before the service was available there. Sure, Taylor Swift sold over 1.2 million copies of 1989 in a week, but that hadn't been done in over ten years, and she has the first platinum album in the US of 2014... in November. "We're getting fans to pay for music again. We're connecting artists to fans they would never have otherwise found, and we're paying them for every single listen," Ek explains.
[Photo credit: Emmanuel Dunand/AFP/Getty Images]


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Bring order to your files and Finder by using smart folders on your Mac.
Wasting nary a moment, Motorola is quick to deliver the latest version of Android to key smartphones.
Pew! Pew! The Navy has a terrifyingly accurate and deadly laser it plans to send to the Persian Gulf for further testing this summer.
Miss a few stories this week? We'll get you up to speed with this rundown of all the tech news.
The newly launched Motorola smartphone joins an elite list of Verizon devices capable of HD Voice and Video Calling.
It's easy to create a stack using tags, giving you a shortcut from the Dock to your tagged documents.
Commentary: Cisco's John Chambers and former FCC chief Julius Genachowski applaud the FCC's funding boost for expanded broadband in schools, calling it a big win for modern digital learning.
The wireless carrier will focus first on rural and suburban areas. "We've come a long way with this," says CTO Neville Ray.
The plan was aired in response to President Obama's request to the Federal Communications Commission for tougher broadband regulations. Now the FCC wants details.
Microsoft is porting its server-side .NET stack to Linux and Mac OS X, and is making more of that stack available as open source.


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PinkCherry, one of the largest retailers of sex toys has launched its newest campaign and once again enjoying a tongue n’ cheek tone the brand is known for. While many are getting ready for tax time and the flood of information about RRSP’s and the state of our wealth portfolios. PinkCherry’s latest campaign wants you to Invest In Yourself.
The campaign aims to remind people that there are more ways to invest in yourself and release stress, besides financial contribution. The most important of which is an investment in yourself and your sexual wellness.
According to Daniel Freedman, Chief Executive Officer, “With all the stock market talk this time of year, we felt like there was an opportunity to really remind people that they should focus on personal investments in themselves, and we’re here to help. No matter what you’re looking for, PinkCherry has one of the biggest assortments of health and sexual wellness products in North America.”
With a theme of investment advertisements, playful radio ads were created on the theme of “investment”, through the use of wording such as “investment tools”, “liquid assets” and “adjustable bonds”. But once the PinkCherry name is revealed with products such as the Womanizer Liberty clitoral stimulator, or the Chorus couple vibrator, the idea comes full circle. Cleverly using very familiar language and culture around investment banking that tends to be a little dry, but instead using it as sexual innuendos.
Print ads were also created with cheesy stock photography images where people are investing in the stock market, only now they’re buying toys. With cheeky, double entendres wording such as “Increase your liquidity” and “You’ll love the after hours trading”.
The campaign includes major billboards and will run radio ads nationally across Canada and the US ranging from CNN, Fox and the provocative The Howard Stern Show.
Agency Behind PinkCherry’s Invest In Yourself Campaign:
- Wild Child Group PR [TCO]
- The Local Collective


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The author is a Forbes contributor. The opinions expressed are those of the writer.
isn’t nearly as impressive as the company might have hoped. The stock is down 3.6% as of this writing, at $510.
The Journal describes the typically manic scene surrounding the release of a new iPhone at the Sanlitun shopping center in Beijing, compared to the iPhone 5’s meager line consisting of two people and a snowman. Business Insider reported a similarly underwhelming spectacle for the iPad mini launch earlier this month, though that was mostly due to a new reservation system designed to prevent frenzied mobs. Similar measures, as well as snow, are what led to the lack of lines in the iPhone 5 launch. Analysts are still worried, however, that the iPhone 5 won't sell as well as the iPhone 4s in China.
China is Apple’s second biggest market behind the U.S., and the biggest potential market for every product in the world. Concerns over iPhone 5 sales worldwide are part of what’s fueling the recent downward trend in Apple’s stock price – it’s way down from its dizzying height of $705 in September. UBS cut its target price from $780 to $700 on Friday.
Part of this is a classic case of unreasonable expectations – the stock really started to move upwards when the iPhone 5 was just a rumor, then started to move back down once reality set in. That, combined with the slightly less comfortable profit margins associated with some of Apple’s products, made it clear that the company couldn’t sustain its massive stock price.
It’s no surprise that in recent weeks we’ve retreated back to the old reliable rumor of Apple TV. With Android devices pressuring iPhone worldwide, people are hoping that Apple can dominate an entirely new market rather than just slowly expanding in its current ones. Aside from that, Apple will continue to grow, but it’s going to do so more slowly and consistently than it did in the years immediately following the announcement of the iPhone and the iPad.


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Taunton native kicks off food truck dream with Mexican eats
TAUNTON — Wanderson Gonzalez’s food truck started with a dream 15 years ago.
When Gonzalez, 39, and his wife, 27-year-old Maryanna Paeva Gonzalez, emigrated to the United States from Brazil in 2004, his goal was to open a food truck after years spent working in kitchens.
Now, the Taunton resident has accomplished that, opening “Gonzalez Food Truck” to serve fresh Mexican eats around the Taunton area.
“A lot of people didn’t believe in my dream, but I believed in myself,” he said. “I waited more time, saved more money and now my dream’s done.”
But his new business almost didn’t come to fruition, he said.
Gonzalez had attempted to open a food truck before, he said, but it was too expensive. The couple then saved money for several years, Maryanna said, and reached out to a company in California to build the truck once they had saved around $80,000 last December.
But after that company took a $20,000 deposit, they vanished, Gonzalez said.
“From there, I think the dream is gone,” he said. “My wife said, 'No, we can’t stop'.”
They found another company in Florida, Heat Custom, who built and wrapped the truck with its prominant red- and black-colored design, which was finally unveiled last month at the Court Street Festival and Concert with The Reminisants on the Taunton Green.
They’ve also operated a few days at the APlus gas station located at 315 Broadway in Taunton on Route 138, including Monday when customer Crystal Mitchell of Taunton swung by for a quesadilla.
“It’s worth every penny,” said Mitchell, who tried the truck for the first time on Friday but stopped by Monday for a second time. “The food is packed with flavor. It was so good!”
The menu offers an array of burritos, tacos, quesadillas and burrito bowls, as well as a salad option and a sandwich option. The meat included in the dishes – chicken, beef and carnitas – are prepared by Gonzalez himself, who said he marinates them for 12 hours before use.
He aims to use high-quality ingredients, he said, and the food is made fresh daily. If he doesn’t use it that day, he said he chucks it.
“That’s why people love my food,” he said. “It’s fresh!”
Gonzalez has been testing different flavors in his kitchen at home, with his kids and Maryanna acting as the testers. He hopes to add more menu items in the future, depending on what people like and want.
He also hopes to open a permanent restaurant location one day, he said, but he's enjoying the flexibility of running a food truck.
“It doesn’t matter where you go, you’re going to be followed,” he said. “They’re going to you for your food.”
They’ve submitted an application to win a public food truck lottery spot in Boston as well, he said, and floated the idea of getting a second truck depending on how business goes in Taunton.
But for now, Gonzalez said he plans to make a permanent location out of the gas station parking lot, pending Planning Board approval, he said. They plan to be open Monday through Saturday from 11 a.m. to 6 p.m., barring any events or private functions on their schedule. They take cash, all major credits cards and electronic pay options like Apple Pay and Google Pay.
Until they get city approval for the spot, the truck will make an appearance at other events, including the 7th Annual Cape Cod Food Truck and Craft Beer Festival in Falmouth on Aug. 10.
Staff writer Corlyn Voorhees can be reached at email@example.com


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Why you should trust CardRatings.com
At CardRatings.com we discuss the most up-to-date news and trends within the credit card space. Since we first pioneered the concept of online credit card reviews in 1998, our team of financial experts has provided comprehensive and unbiased credit card reviews for more than 175 cards, plus hundreds of additional resource articles to help educate everyday cardholders so they can feel more confident about their card choices. All our content is written and reviewed by industry experts. Though our content may occasionally contain references to products from our partners, we maintain strict editorial integrity and advertiser relationships and compensation never influences ratings, reviews or featured products. The difference between editorial content and advertising must always be clearly stated. Learn more.
If you’re the parent of a student in college, you probably aren’t worrying too much about getting your son or daughter a new credit card. You have plenty of other things to worry about. Those pictures your son posts on Facebook, in which you hope, but rather doubt, that it’s grape soda in that wine glass. Wondering if your financial aid officer will consider bartering a semester of college for the Beanie Babies collection you invested in back in the 1990s.
Didn’t the CARD Act stop credit cards on campus?
Besides, the Credit Card Accountability, Responsibility and Disclosure Act of 2009 means that anyone under the age of 21 can’t get their hands on a credit card unless they either have a co-signer (you), or prove that they have income. And universities aren’t allowed to market on college campuses anymore. Right?
Well, not exactly. The Credit CARD Act doesn’t stop credit card companies from marketing on college campuses. What the issuers no longer can do is offer freebies to students. In the past, credit card companies would dangle a free T-shirt in front of a student just for signing up for a credit card, which, if you think about it, is not a great start on the road of fiscal responsibility.
A college-aged kid with very grown-up debt will be less common than it used to be, to be sure. However, according to a report from the Federal Reserve, issuers are still paying big bucks for the privilege of issuing affinity cards. While your under-21 can’t get a card today, the issuers still want them to be loyal to their school and their student credit cards once they can.
Which schools got the most credit card money?
The biggest benefactor of the credit card industry in 2010, according to the Fed’s study? Penn State Alumni Association by a mile, receiving more than $4.2 million in marketing dollars from FIA Card Services, a subsidiary of Bank of America. The full top 10 list of colleges and the marketing dollars shakes out like this:
- Penn State Alumni Association ($4.2 million from FIA)
- Ex-Students Association of the University of Texas ($2.3 million from FIA)
- Alumni Association of the University of Michigan and the Regents of the University of Michigan ($1.6 million from FIA)
- University of Southern California ($1.5 million from FIA)
- University of Tennessee ($1.4 million from Chase Bank)
- Duke Alumni Association, Inc. ($1.375 million from Chase Bank)
- California Alumni Association and the Regents of the University of California ($1.353 million from FIA)
- Arizona State University Alumni Association ($1.349 million from FIA)
- Arch Foundation for the University of Georgia, Inc. ($1.307 million from FIA)
- General Alumni Association of the University of North Carolina at Chapel Hill ($1.25 million from FIA)
Many of the credit card companies sponsor football games, targeting both the alumni and the current crop of students, and the sponsorship is impossible to miss. For instance, Duke’s arrangement requires mentioning Chase at least twice at each football and basketball game. Chase, in their contract, also states that they can install 16 booths at every home game every season “within or on the grounds surrounding Neyland Stadium.” They have the right to install six booths at the home basketball games, and two at the home baseball games.
Which bank targets the most colleges and universities?
By far, it’s Bank of America’s subsidiary, FIA Card Services, that has the greatest number of agreements in place. As the Fed’s report points out, at the time of the survey, FIA had 848 credit card agreements, for which they paid colleges $55 million.
That’s 15 times as many agreements as the next runner-up: U.S. Bank National Association had 54 agreements in 2010, giving a comparatively paltry $1.8 million to colleges. Chase had 28 agreements, but spent far more on its marketing: $9.1 million.
What do banks get in return?
So what are the colleges giving the credit card companies for the money? As you might expect, among other things, they’re shelling out phone numbers (often specifically requesting numbers that are not included on do-not-call lists), email addresses and snail-mail addresses of students and alumni, and, yes, as noted, the issuers are often allowed to come onto the campus to market student credit card offers.
Troubling, or just business as usual?
As with anything, the answer probably depends on one’s point of view. Sharon Lechter, the co-author (with Robert Kiyosaki) of the modern-day personal finance classic “Rich Dad Poor Dad,” has earned the right to be cynical about colleges and credit cards, considering her son accrued $2,500 in debt during his freshman year in college.
But in spite of that, Lechter sounds pretty encouraged by what has transpired since the Credit CARD Act became law. “The number of credit card accounts among college students fell 17 percent after the CARD Act, and I feel pretty confident saying that was due to not being able to offer free pizza and T-shirts for a kid filling out an application,” says Lechter, who is also a CPA and founder of the Paradise Valley, Ariz.-based financial literacy company Pay Your Family First. But she adds, “The issue isn’t the credit card. The issue is the lack of (understanding) how to use it.”
Lechter says that if colleges are going to help credit card companies market to their students on campus, that may not be so bad, especially if the card has reasonable terms and a low interest rate. But schools need to do a better job of educating their students. “We need to educate young people about how to manage money but also how to make money, as in how to become entrepreneurs,” Lechter says. “That’s the only way we’re going to save this generation.”
Agreements with schools don’t cover financial literacy
Lechter may have to wait a while for that to happen, however. Among the 1,004 contracts arranged or upheld by universities and colleges in 2010 (all of which are available to peruse on the Federal Reserve site), there are a lot of terms specifying benefits to the parties, but precious few that directly benefit students.
For instance, some agreements give the school $1 from each credit card’s annual fee as well as royalties from purchases made on each card. In other agreements, there are provisions that specify everything from the size of a credit card kiosk to how credit cards can “piggyback” in football season ticket-holder mailings.
But there appears to be nothing in the contracts requiring credit card companies to conduct free workshops on campus to teach students how to use credit cards wisely. A student would have to pay for a personal finance class, or rely on parental wisdom, which is not always the best bet.
And for those students who haven’t learned how to use a credit card wisely, they – or their parents – often end up paying dearly for that lack of knowledge as well.


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GHANA’S President, Nana Addo Dankwa Akufo-Addo, has launched a 10-year cashew development plan in Wenchi in the Brong Ahafo Region.
AT the event the President expressed his government’s determination to diversify agriculture by transforming, among other things, cashew into a major cash crop and foreign exchange earner.
THE aim of the cashew Development Plan (2017-2027) fashioned by the Ghana Export Promotion Authority (GERA), in collaboration with the Cashew Industry Association of Ghana (CIAG), is to expand the present production of raw cashew nuts (RCN) from 70,000 tonnes (MT) to 300,000 tonnes by 2017.
CURRENTLY, cashew is the country’s leading agricultural non-traditional export, accounting for 197 million United States dollars of revenue in 2016.
FOR us at Today, the 10-year cashew development plan represents a big boost for the cashew industry, especially when one of the objectives of the plan is to promote the production and marketing of cashew by-product and also promote competitiveness of the entire cashew value chain.
THE plan is not only part of our efforts to diversify agricultural products, but more importantly, serves as an incentive to cashew farmers to expand production.
IN addition, the plan has the advantage of creating employment within the cashew industry, particularly in regions where we have cashew farmers.
THE argument has always been finding innovative ways of diversifying agriculture, which is and will continue to be the mainstay of Ghana’s economy.
WE have often lost out by many of our agricultural products in their raw state to foreign countries.
BUT the fact remains that we can boost our economy by diversifying agriculture.
THAT also means turning some of our exportable agriculture products into finished products before exporting them.
IN that way, monies that will come to us from the export of such products will be huge enough to enable us finance the country’s capital and recurrent expenditure.
IT is a laudable project and all the stakeholders must support to ensure that it succeeds.
THE success of this plan will only not inure to the benefit of farmers, but equally to the country as a whole.
Source: Today Newspaper
|Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.|


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The novel coronavirus outbreak has a severe impact on the livelihood of households and business activities resulting to drop in global demand for goods and services, declined consumer confidence, and a slowdown in production among others.
The Federal Government through the Central Bank of Nigeria (CBN) and the Federal Ministry of Finance, Budget, and National Planning have announced some monetary and fiscal measures to help mitigate the impact of the coronavirus pandemic on the economy, Nigerian businesses, and households.
The CBN on its own, through various circulars and pronouncements, has announced some stimulus packages that will impact different sectors like the health sector, Micro Small and Medium Enterprises (MSMEs), manufacturers, households, and so on.
The apex bank introduced an N50 billion Targeted Credit Facility (TCF) as a stimulus package to support households and micro, small and medium enterprises (MSMEs) that are affected by the coronavirus pandemic
Why it matters: The TCF was designed to cushion the adverse effects of COVID-19 on households and MSMEs; support households and MSMEs whose economic activities have been significantly disrupted by the COVID-19 pandemic, and to stimulate credit to MSMEs to expand their productive capacity through equipment upgrade and research and development.
A. Who is TCF meant for?:
In the operational guideline for the facility, the CBN listed participants who are eligible to apply for credit from this facility. They are as follows;
- Households with verifiable evidence of livelihood adversely impacted by the coronavirus outbreak;
- Existing enterprises with verifiable evidence of business activities adversely affected as a result of the coronavirus pandemic (as part of its consistent review, CBN has declared that eligible applicant does not need to have a business plan),
- and firms in agricultural value chain activities.
- Hospitality industry (accommodation and food services)
- Airline service providers
- Health (pharmaceuticals and medical supplies)
- Manufacturing/value addition
- Trading and other income-generating activities as may be prescribed by the CBN.
B. Source of fund
The scheme shall be funded from the Micro, Small and Medium Enterprises Development Fund (MSMEDF) and the eligible participating financial institution for the scheme is NIRSAL Microfinance Bank (NMFB).
This means the CBN will be sourcing the fund from its MSME development fund which will be administered through NIRSAL Microfinance Bank. Thus, while the CBN will be providing the funds, applicants will have to apply for the loan through NIRSAL Microfinance Bank.
C. How to access the fund
There are two modalities here to consider. According to the CBN’s circular issued on March 23, 2020, the modalities apply to either Households/MSMEs or Corporate entity.
- The first step is for an eligible household to submit an application to NIRSAL MFB, which must, among others, contain BVN number, business registration (where applicable) and business plan with clear evidence of the opportunity or adverse impact as a result of COVID-19 pandemic
- NMFB shall appraise and conduct due diligence applications
- Upon satisfactory appraisal of application, NMFB shall forward the applications to the CBN for final approval,
- Then, CBN reviews applications and gives final approval for disbursement to NMFB.
Thus, applicants must endeavor to provide the documents listed above which are mostly basic. If you do not know how to write a business plan, you can get someone to help you with it.
For corporate entities
- Like their MSMEs counterparts, applications are submitted to NMFB with clear evidence of the opportunity or adverse impact as a result of COVID-19 pandemic.
- Also, NMFB shall appraise and conduct due diligence applications,
- After a satisfactory appraisal of the application, NMFB shall forward the applications to the CBN for final approval.
- CBN reviews applications and gives final approval for disbursement to NMFB.
Though, applicants may suffer certain setbacks due to communication gaps on the part of NMFB. For instance, one of the potential applicants, Kolade Emmanuel took to Twitter to make an enquiry about the loan that has not received feedback from the bank after one month. When Nairametrics contacted him, he said, “I have not heard from the bank in about one month after I have followed all necessary processes.”
D. Loan Terms
There are different criteria used to determine the loan amount that is disbursed to different eligible participants and segments. They are:
- SMEs- The loan amount shall be determined based on the activity, cash flow and industry/segment size of beneficiary subject to a maximum of N25 million for SMEs
- Households- They can access a maximum of N3 million. Working capital shall be a maximum of 25% of the average of the previous 3 years’ annual turnover. But where the enterprise is not up to 3 years in operation, 25% of the previous year’s turnover will suffice.
The CBN in its circular on the guidelines for the implementation of this facility stated that the interest rate under the intervention shall be 5% per annum (all-inclusive) up to February 28, 2021, and thereafter, the interest on the facility shall revert to 9% per annum (all-inclusive) as from March 1, 2021.
The guideline states that the loan for working capital shall be for a maximum of one year, with no option for rollover. As for the term loan, a maximum tenor of not more than 3 years with, at least, one-year moratorium.
The guideline states that the collateral to be pledged by the beneficiaries under the programme shall be as may be acceptable by NIRSAL MFB, but may include
- Moveable asset(s) that is duly registered on the National Collateral Registry (NCR);
- Simple deposit of title documents, in perfect state
- Irrevocable domiciliation of proceeds;
- Two acceptable Guarantor and
- Personal Guarantee of the promoter of the business
- Life insurance of the Key Man, with NMFB noted as the First Loss Payee
- Comprehensive insurance over the asset
E. Responsibilities of Stakeholders
Responsibility of the CBN
- Provide the seed fund for the scheme.
- Release funds to NIRSAL MFB for disbursement to successful applicants
- Review the guidelines of the facility as may be necessary
- Receive and process periodic returns from NIRSAL MFB
- Monitor and evaluate the implementation of the scheme by NIRSAL MFB.
Responsibility of NIRSAL MFB
they have the following responsibilities,
- Validate the status and BVN of the applicants
- Process and disburse funds to approved beneficiaries
- Maintain records of all beneficiaries and disbursements
- Forward periodic returns on the prescribed format on the scheme to CBN
- Comply with the guidelines
- Carry out any other duties as the CBN may prescribe from time to time.
F. Exit date:
The exit date of this intervention is December 31, 2024. It should be noted that this framework from CBN shall be subject to review from time to time as may be deemed necessary by the apex bank.
PayPal is buying a Crypto security startup for less than $200 million
PayPal is set to outrightly purchase a crypto-security firm, Curv as part of its campaign in building its crypto ecosystem.
PayPal is set to outrightly purchase a crypto-security firm Curv as part of its campaign in building its crypto ecosystem, the company disclosed today.
According to a report credited to CNBC, the deal is estimated to be worth less than $200 million, it’s expected to close before June this year.
The company’s stock price however recorded some selling pressures at the time of writing amid rising U.S Treasury yields and greenback keeping global investors on their toes.
The crypto startup about to be acquired by PayPal provides companies with Crypto security technology via the cloud. PayPal revealed that the purchase would help its expansion on supporting crypto.
“The acquisition of Curv is part of our effort to invest in the talent and technology to realize our vision for a more inclusive financial system,” PayPal’s Jose Fernandez da Ponte said in a statement.
In a press statement seen by Nairametrics, Dan Schulman, president, and CEO, PayPal, gave key insights on why the global payment company was going crypto; The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of; financial inclusion and access, efficiency, speed, the resilience of the payments system and the ability for governments to disburse funds to citizens quickly.
“Our global reach, digital payments expertise, two-sided network, and rigorous security and compliance controls provide us with the opportunity, and the responsibility, to help facilitate the understanding, redemption, and inter-operability of these new instruments of exchange,” he said.
Furthermore, he said, “We are eager to work with central banks and regulators around the world to offer our support and to meaningfully contribute to shaping the role that digital currencies will play in the future of global finance and commerce.”
This offering was made possible through a partnership with Paxos Trust Company, a regulated provider of crypto services and products.
Transcorp Hotels launches Aura, an online marketplace for accommodation and experiences
Nigeria’s largest hospitality brand launches a new platform for booking vacation homes, holiday lets, and experiences.
Africa’s leading hospitality brand Transcorp Hotels Plc. has announced the launch of Aura, a new digital platform through which people can book accommodation, restaurants, and experiences.
The new brand, Transcorp’s first in the alternative accommodation segment, is part of the company’s asset-light model, leveraging technology to deliver true hospitality, exciting experiences, and drive shareholder value.
“It’s a new dawn in the hospitality industry! I am thrilled to introduce you to Aura by Transcorp, the digital platform we are using to connect people to quality accommodation, great food, and awesome experiences,” Managing Director and Chief Executive Officer of Transcorp Hotels Plc., Dupe Olusola said.
“For more than 30 years, Transcorp Hotels Plc has been at the forefront of creating a superior guest experience at our locations. Today, our commitment to innovation has offered us an opportunity to extend this beyond the hotel premises,” Olusola added.
The launch of Aura by Transcorp is one of the most significant developments in the company’s history as it seeks to transform the travel and tourism industry in Africa by focusing on three important components of travel, whether for leisure or business — where you stay, what you eat and how you spend your time. With its people-driven hospitality model, Aura is set to revolutionise travel and help remind Africans of our deep history of hospitality.
Speaking on the launch of Aura, Obong Idiong, Chief Executive Officer at Africa Prudential Plc, Aura’s technology partners, expressed his excitement. “Finding the right accommodation when you travel can be incredibly complex. Options available for the right prices are often limited, and travellers sometimes end up with accommodation that taints the travel experience. Transcorp Hotels Plc has been able to fix that with Aura and we are proud to be associated with them.”
“To ensure topnotch user experience, we built a solution to drive digital transformation through the adoption of shared living spaces for the Aura business. With an advanced search algorithm powered by artificial intelligence, Aura determines the relevance of locations taking into consideration, the customers’ preferences and requirements to meet them at the point of their needs,” Idiong added.
Priscilla Adeboye, a travel enthusiast and early adopter of Aura, said the global pandemic has pushed international travel down her list. “But I still want to be able to take some time off work or spend a weekend away from home with the family. I have found incredible homes on Aura that meet my need for space and privacy.”
Working with thousands of partners across Nigeria and different cities in Africa, Transcorp Hotels Plc. is building the continent’s largest platform for people-driven hospitality. While travellers enjoy the right selections at the best prices on Aura, hosts can also earn a lot of money by receiving guests in their unoccupied homes and sharing the local culture with them.
For travellers who would rather stay in hotels, Aura also has a great selection of some of the best hotels in every city.
With the launch of Aura, Transcorp Hotels Plc. has further cemented its leadership in the hospitality industry and reinforced its commitment to innovation and superior guest experience across different demographics.
Guests and hosts can sign up at aura.transcorphotels.com to start booking or hosting. The service is currently available in Nigeria only, but the company said plans are already in place to expand to major cities in Africa.
Transcorp Hotels Plc is one of Africa’s leading hospitality companies, committed to redefining service standards across the continent while remaining truly and authentically African.
Aura by Transcorp
Aura is Africa’s best platform for connecting travellers with great accommodation, good food, and memorable experiences. The platform is also an avenue for people with unoccupied homes, hotels, restaurants, or different skill sets that may interest others can earn an income by becoming hosts.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- 2020 FY Results: Champion Breweries Plc reports a revenue growth of 1.80% in 2020
- Seplat falls into a loss in FY 2020
- 2020 FY Results: Cornerstone Insurance Plc reports a 61.1% decline in profit
- Ellah Lakes increases operating expenses by 33.36% in HY 2020
- 2020 FY Results: Nigerian Breweries reports a 54.3% decline in profits in 2020


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A group of more than 40 leading North Florida area merchants have teamed up to support Jaguars ticket sales and renewal efforts by offering fans who buy or renew season tickets a book of gift certificates called "Teal Deals" containing over $1,300 worth of savings.
The Teal Deals book – filled with money-saving gift certificates that can be redeemed at restaurants and businesses – will be mailed to anyone who buys or renews 2010 season tickets. Purchasers are encouraged to also support the grassroots effort of Team Teal by joining a team at www.myteamteal.com by May 31st, 2010.
This program is being offered as a win-win-win deal for Jaguars fans, the Jaguars and local North Florida businesses. Joe Adeeb, president of Bono's, who along with Brian Flynn of Mint Magazine has pioneered Teal Deals, said, "Fans purchasing season tickets will get to enjoy great discounts at some of North Florida's best restaurants and businesses, but their purchase will also support the long-term success of the Jaguars in Jacksonville while providing a much-needed boost to local businesses in and around Jacksonville."
"Community members realize the importance of the Jacksonville Jaguars to this community, and I am so glad that a grassroots effort came together through Team Teal with a goal to ensure that the Jaguars remain a viable part of Jacksonville," said Brian Flynn, creator of the Teal Deal gift certificate booklet. "These gift certificates are a representation of how local businesses are in support of this effort, and we hope that this booklet serves as another incentive for people to purchase season tickets and show their support to this team."
Jaguars CEO Wayne Weaver added, "What Brian Flynn and Joe Adeeb and these businesses have put together is a terrific value-added program that is a great benefit for our season ticket holders. I appreciate their support and so many members of the business community working together to offer generous gift certificates."
The Teal Deals gift certificate book will be available only until May 31, 2010 and fans are being urged to purchase Jaguars 2010 season tickets and register now to avoid missing out.
Those who buy or renew season tickets before May 31st will automatically be mailed one Teal Deals gift certificate book for each seat they own, e.g. if they have four seats they will receive four Teal Deals gift certificate booklets. Teal Deals books will be mailed in early June and may be used at participating merchants until February 28, 2011. For more details on each offer, fans should visit www.jaguars.com/tealdeals.
Fans can get their 2010 Teal Deals gift certificate book by renewing or buying Jaguars season tickets via www.jaguars.com or calling (904) 633-2000.


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Leadership Changes At U.S. Premium BeefLeadership Changes At U.S. Premium Beef
The USPB Board of Directors has named Stan Linville, previously the company’s chief operating officer, as the new CEO.
January 4, 2013
Steve Hunt, president and chief executive officer of U.S. Premium Beef (USPB), will step down after 17 years in that position, reports the Kansas Livestock Association’s News and Market Report. Hunt will assume an advisory role after Jan. 28. 2013. The USPB Board of Directors has named Stan Linville, previously the company’s chief operating officer, as the new CEO.
USPB Board Chairman Mark Gardiner, a cattleman from Ashland, KS, said Hunt’s visionary leadership has had a significant impact not only on unitholders and associates, but on the entire U.S. beef industry. Hunt helped create a system that rewards ranchers and feeders for producing quality beef.
Hunt is optimistic and looks forward to his continued involvement. “We have a great company with highly capable management and a new partnership with Leucadia that is exciting and full of opportunities,” said Hunt.
More than 1,400 feedyards in 14 states have sent cattle through USPB since the company began operations in 1997. During delivery year 2012, all USPB cattle averaged $55.66 per head in premiums over the cash market.
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Leading manufacturer of vehicle connection systems, modules and components for trucks and trailers, JOST, is initiating a generational change.
Lars Brorsen is handing over the position of JOST CEO to Chief Sales Officer Joachim Dürr effective 1 October 2019.
Brorsen steps down from his position as CEO effective 30 September 2019. Since the end of 1999, he has been the face of JOST Werke. Under his leadership, the German company has developed into an internationally recognised group. Global sales have more than quadrupled during this period and the number of employees has more than doubled. He has expanded and enhanced JOST's product portfolio with strong brands such as TRIDEC, ROCKINGER, Edbro and most recently the JOST Axle Systems. Under his leadership, JOST Werke AG was listed on the Frankfurt Stock Exchange in 2017 and made the leap into the SDAX index soon after.
At 67 years of age, Brorsen hands over the baton of Chairman of the Executive Board to his fellow Board member Joachim Dürr.
“We have prepared this step with calm and prudence,” said Brorsen. “With Joachim Dürr, we have been able to win a competent successor who will keep the spirit of the company alive and will continue JOST’s success story. It has been a great honor for me to have served JOST over the past decades.”
Dürr was appointed Chief Sales Officer (CSO) of JOST Werke as of 1 January 2019. The graduate mechanical engineer has many years of international sales, product and leadership experience in the commercial vehicle industry. On 1 October 2019, he will assume the function of CEO of JOST Werke AG. Simultaneously, the company's Executive Board will be reduced again to three members. In accordance with the term of his Executive Board contract, Brorsen will continue to assist JOST on an advisory basis until 31 December 2019.
“The Supervisory Board thanks Lars Brorsen for his outstanding work over the past 20 years,” said JOST Chairman of the Supervisory Board, Manfred Wennemer.
“We and JOST owe him a great deal and we wish him all the best for the coming years.
“With Joachim Dürr, we were able to recruit a very experienced manager at the beginning of 2019, with whom JOST will be very successful in the future,” he said.
Dürr is looking forward to his new position.
“JOST and its employees worldwide stand for absolute customer orientation, today and in the future,” said Dürr. “The commercial vehicle industry will continue to grow in the medium term and in the process undergo major changes – this offers a wide range of opportunities for JOST. I am delighted to develop the company on this basis, generating sustainable and long-term value for our customers, employees and shareholders.”
(Image: Joachim Dürr.)


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The service plans are not changing from what was offered at its trials. The $30 plan will continue to be sold with unlimited voice and text messaging but no mobile internet service. The next plan is charged at $35 and includes unlimited voice, and text messages and mobile internet offered at 2G browsing speeds. Lastly the company is offering a $45 plan with 5GB of data offered at 3G browsing speed, along with unlimited voice and text messages. The service claims no hidden charges or caps on their plans and in their tag lines put it as “No DUM caps. No DUM overages ” — you know, “FreeDUM in wireless,”
Customers can buy a SIM kit worth $8 which they can use with their own mobile phone or they have the option to buy Alcatel feature phones or ZTE android phones that are low end. Customers of GoSmart can also add unlimited international texting to 200 countries for $5 per month and unlimited text to 200 countries and unlimited landline calls for $10 per month.
T-mobile has now joined the ranks of Sprint, Virgin Mobile USA and Straight Talk. This move can have positive effects on competition and might bring even better priced prepaid plans from competitors.
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A huge number of hardware startups are emerging all over the place at the moment, so where have they come from and what do they mean for us?
We hear about software startups no end, with the latest apps and social networks grabbing the headlines with hackneyed platitudes such as 'the next Facebook?' before disappearing into the ether. But bubbling under the software hyperbole, there's a volcanic rise of hardware startups that will change the face of consumer electronics forever.
The development of third-party software exploded with the advent of the internet. It was, and still is, easy for skilled individuals to make their own software and even start a software company. The initial costs will always be relatively low, needing only a computer, time, a particular skill set and some staff.
In comparison, the initial upfront costs of starting a hardware company are huge. COO of Miura Systems, Richard Goodlad, says that his initial costs were US$4.3m (around £2.8m / AU$4.7m), which includes manufacturing and sourcing of materials.
Ian Hogarth, CEO and co-founder of Songkick, explained to us that his startup costs were around £15k (around US$23k / AU$25k), which pales in comparison.
With the gulf in startup costs this extreme, starting up a hardware company is a serious financial risk, which is why hardware has been left, traditionally, to the big players such as Sony, Apple, Samsung and Google.
But three things have changed in recent years that have levelled the playing field. Firstly, the battle for supremacy between the big players has crashed the price of materials. The smartphone war and the never-ending conveyor belt of budget smartphones has driven down prices of components and made them affordable for a small or medium-sized business, which, ironically, has increased competition.
Companies such as Google have introduced disruptive pricing models, such as a £239 / US$299 / AU$349 Nexus 4, that has forced down the price of components and made other companies follow suit.
According to iSuppli Research, a Samsung Galaxy S3 cost US$204 to make in 2012, whereas the Samsung Galaxy S4, a phone with an upgraded quad-core 1.6GHz Cortex-A15 processor and a 1080 x 1920 pixel 4-inch screen, among other improvements, cost US$233.
So you can see a significant drop in the cost of materials. iSuppli estimates that the percentage share of DRAM - an important component of smartphones - on the overall cost of materials dropped from 14% in Q1 2011 to almost 6% in Q1 2012.
The second thing that has changed is access to finance, or, more specifically the rise of crowdfunding websites such as Kickstarter and Indiegogo. These websites have been a revelation for entrepreneurs in recent years, connecting them directly to other enthusiasts who understand the problem they're trying to solve and are willing to fund the entire process.
Projects that may have never got off of the ground through traditional finance streams are judged and voted for by the public, in a modern interpretation of Athenian democracy.
Products such as Fitbit, Pebble and Ouya have significantly benefitted from this funding model and produced products that might have seen the bottom of the waste paper basket in a central London boardroom.
But the traditional finance streams still play an important role. Accelerator programmes, where companies receive funding and work space, are springing up around the country. These accelerator programmes offer more than just money, they offer work space, which is often shared with other companies and can offer expert advice.
Paul Smith, director of the Ignite 100 accelerator programme in Newcastle, UK, told us: "It's difficult to put a number on [how many hardware startups there are in the North East of England]; there's probably a dozen or so, if by startups you mean small, early-stage teams. A few notable ones include Screenreach, Earsoft and Bubblepix.


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A new, small-format Target store planned last year for San Diego's Spring Valley community will open this weekend, a tad ahead of schedule.
Last December, the retail giant announced it would open a "small-format" store at 935 Sweetwater Road, near the Jamacha Road intersection in East County. The stored was projected to debut in early 2020.
Now, that Target run in Spring Valley is closer than ever.
Target confirmed the 48,000-square-foot store will officially open to the public on Sunday. The company has hired approximately 90 team members to staff the location, which, according to a Target rep, offers "a product selection that's tailored for local residents and visitors."
In addition to household necessities, personal care products, apparel, and grab-and-go groceries, the Spring Valley store also offers in-store pick-up for customers who order their things online.
The Spring Valley store marks Target's fourth small-format location in the San Diego area, part of the company’s master plan to open these smaller-scale stores in dense urban neighborhoods – namely places where a full-size Target store may not fit. These smaller stores aim to offer an assortment of products that cater specifically to the community in which the store stands.
Small-format Target locations in San Diego County include an existing one in South Park, one in North Park and another in Ocean Beach, an 18,000-square-foot store that opened on Newport Avenue over the summer.
The small-format Target store openings have stirred some controversy in San Diego County communities, as some locals worry about competition from the big box retailer impacting small businesses. Residents who support the openings have said they're happy to add a quick, convenient shopping option to their communities.
Sunday's grand opening for this newest store begins at 8 a.m.


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This Week In Fashion: Isaac Mizrahi Comes To CAM This Week And Jan Leach Givens Launches Showroom 314
On March 15, from 6-8pm, fashion icon Isaac Mizrahi heads to St. Louis for an exclusive cocktail event hosted by the Opera Theatre of Saint Louis, held at the Contemporary Art Museum. Mizrahi will share the inspiration behind his creative process for directing and designing the upcoming production of “The Magic Flute“ this spring. A cash bar cocktail service begins at 6pm with Mizrahi’s remarks beginning at 7pm, with Q&A to follow. DJ Trash Talk will spin music throughout the evening. Tickets are $10 and can be purchased through the OHSTL website. 3750 Washington Blvd.
Dimvaloo Active Living hosts a “spring cleaning” event, Girls Night Out, on Thursday, March 13 from 5:30-8:30. Guests can bring in their gently used athletic clothing and receive a 15 percent allowance toward new purchases. The Ladue Road boutique also recently began hosting a series of Wednesday evening events called Wine Down Wednesday, where guests can enjoy complimentary wine after a free Pilates workout with instructor Sharon Candelario. Dimvaloo is located at 8813 Ladue Road in the Colonial Marketplace shopping center.
St. Louis-based stylist and personal shopper Jan Leach Givens announced late last week that she will be launching a new venture, Showroom 314, this spring. Inspired by the various design talents in the St. Louis area, Givens has tapped into her various fashion industry experiences and will represent select designers at markets across the country. ALIVE’s Jennifer Dulin Wiley reports that Givens will also provide consulting on critical wholesale and production elements—from pricing structure and line sheets to look books, key silhouettes, fabrics and fit. Showroom 314 will launch with St. Louis’ Laura Kathleen and another soon-to-be-named local local talent. Follow the news and progress of Showroom 314 through the web @showroom314.
- Devil City‘s kids line, Frad Bink, hit the floor at their Delmar Loop location last week, featuring adorable prints by tattooer Brad Fink. Sizes include onesies to youth-sized tees. 6301 Delmar Blvd.
- Local men’s streetwear hub, Swedlife, has put plans into motion to launch a web store this spring where they will offer an impressive selection from top brands including their self-designed Swedlife label, Mishka NYC, Herschel, Publish and more. 6378 Delmar Blvd.
STLFW is now accepting volunteers for the upcoming season. Interested parties should contact Jessica@ALIVEMag.com


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Independent app developer studio MoneyCoach UG announced today that an all-new update is coming to the critically acclaimed & featured by Apple MoneyCoach – Personal Finance, Bills and Expenses app on June 22.
The free update includes a variety of new features, including complete design overhaul, complete Summary Cards overhaul and an all new redesigned powerful report among other cool things.
MoneyCoach, founded and developed by Albanian Entrepreneur – Perjan Duro, helps users achieve financial freedom y: helping them manage all their financial accounts, by reating amazing reports that are easy to understand and by giving them personalised tips based on their spending habits. Some other neat features include adding transactions via through voice on Apple Watch, viewing real-time net worth, transfer between accounts, etc.
MoneyCoach – Personal Finance, Bills and Expenses in available exclusively on iOS for iPhone, iPad and Apple Watch. The app is free with unlimited functionality and reporting tools. The regular price for the Awesome Mode will be $9.99, but with a limited-time launch offer, it will be completely free.


text: BUSINESS Home Improvements Rose 3 Percent in 2020, a Harvard Survey Found By Staff Tuesday, October 5, 2021 1:14 PM Consumers spent approximately $420 billion on home improvements and repairs in 2020, an increase of over 3 percent year over year, according to The Joint Center for Housing Studies of Harvard University. Curious to learn more, marketing agency Stella Rising conducted its own research to understand what matters to consumers in the home improvement space, how they feel about market conditions, and what their new priorities are. Of note is consumers’ approach to purchasing home improvement/décor items: a lot of shopping is done in-store only, but a significant group of consumers are omnichannel. BOPIS (Buy Online Pickup in Store) is on the rise—a long-lasting impact of the pandemic for retailers—and certainly a channel to watch on the go-forward, according to Stella Rising. Click here to find out the highlights of their survey.