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Emirates Business 24-7 News

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UAE 247 Business News – Why Your Business Should Work 24/7?

Globalization has changed many things in the world, but perhaps most of all it has changed the way in which business is conducted. Food, produce, and goods are transported all over the globe, and competition is fierce. With the advent of the internet, a business needs to be capable of taking orders 24-7.

Imagine if you could only place an order on E-bay between the hours of 9 to 5 Monday to Friday. The whole idea is laughable, but there are still significant numbers of companies who operate under that structure. They may concede to working half a day on Saturday, but their customer service teams and their call centers are closed outside “regular business hours.”

The reality is that to survive all businesses are going to have to evolve and switch their operational hours or risk being left behind not just in the UAE. As the millennial generation in the Emirates become the dominant force, their expectations and demands are significantly different from that of the baby boomers.

Millennials have grown up with the internet, with 24/7 online shopping, late night pizza deliveries, and instant gratification. If they see or read about a new game for their smartphone, they have become accustomed to visiting the app store, purchasing it and downloading it, all within 30 seconds of first becoming aware of the game.

A recent Emirates business 24-7 survey (2016) conducted by Lithium Technologies threw up some startling statistics. Seventy-five percent of people interviewed in the UAE have an expectation that their online inquiry will be dealt with on the same day, with about half expecting a response within one hour. Two years previously, when the same survey was completed, only thirty percent expected a response within the hour, the demand for change is growing rapidly.

This puts significant strain and financial burdens on local shops in the Emirate, Dubai and UAE itself who are forced to remain open for longer hours, seven days of the week. More staff are required to cover the extended hours, and there will be other increased expenses, and that just applies to the local aspect of the business.

Depending on the nature of your business, the problems become magnified due to globalization. If a company wants to operate outside of the UAE , they need to ensure they are open for business during the business hours of the countries where they are trying to serve ( business 24/7 model)

Although this is certainly a challenge, the good news is that the advent of technology can provide many of the solutions. Online customer service teams, business 247 applications, and systems can be designed to run more efficiently and service more than one customer at a time.

 

Make Good Use Of Outsourcing When Introducing a Business 24 Model

An internal IT department can be an unnecessary expense for a small to medium sized business 24. Furthermore, if and when your website crashes at 2 am GMT, the likelihood of any of your staff being available to get things fixed is minimal. A great solution to this is to outsource your online operations to a Emirates based business company who specialize in IT support. The majority of these businesses provide a 24/7 service at a fraction of the cost of your own IT department.

Another option to covering a wider range of hours is to speak to your staff, both customer service and IT staff, and ascertain if any of them would prefer to work outside of regular office hours. When it comes to childcare and other issues, there is a large percentage of the working population who simply do not, or cannot work the typical 9 – 5 business day. The more hours you can cover internally with your staff means a reduction in the cost of outsourcing your support services. When this is done properly, it presents a win-win opportunity for all parties, so it is worthwhile investigating all the possibilities.

Another idea that may well be worth considering is the idea of flexible working. Is there a need for your workers to be present in the office? With the advent of superfast broadband and corporate telephone systems that provide the opportunity to take a work phone number anywhere, there could be scope for employees to work from home, providing an on-call service. This not only enables the employer to benefit from the business 24 model  but may be appealing to employees who would prefer the flexibility of working from home.

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Set Up Your eCommerce Store To Work On Autopilot

Setting up your eCommerce store to enable a 24 7 service may take a lot of planning and organization, but the potential rewards and opportunities to grow the business can also be significant. Customers have shown a willingness to pay a premium for the added convenience, and businesses can also benefit from impulse buys. When a consumer decides they want to purchase a specific product, they are much more inclined to buy from the site that can get their purchase to them quicker. That is why sites such as Amazon and Shopify are now beginning to offer delivery within 2 hours to their prime customers. The dilemma for eCommerce business owners is more about when they extend their working hours rather than if; because doing nothing is not really an option. We highly recommend eCommerce business owners who want to extend their business to work 247 to read the latest eCom success Academy Review by Adrian Morrison

 

Business 24 Reveals New Bankruptcy Law and UAE Investment News

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Check Out The Latest Business 24  News and Insider UAE News About Real Estate Investments

In a recent editorial “The Gulf Today” newspaper commended the new bankruptcy law recently passed by UAE authorities. The law is designed to encourage investment in the region making the UAE a more attractive place to invest, while reducing the barriers to entry inside the new Business 24 news.

Rather than punish investors who previously faced the threat of jail, the new law aims to assist a company and give it a longer time period to recover. “Vice President and Ruler Of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, tweeted on Sunday that the law is aimed at promoting investment and the ease of doing business.”

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This is a sensible move and should encourage business owners to try and solve their problems and move forward, rather than in previous years where the fear of jail simply encouraged business owners to abandon the country and their business. Although not substantiated it is believed that some business owners have previously fled the country owing debts of around AED 5 billion. The harsh reality is that these debts will likely never be repaid, but hopefully this new legislation will prevent the situation from occurring in the future. Prior to the launch of the new bankruptcy law, the law almost forced business owners in debt to flee the country as the only solution to their problem inside your own updates.

Business 247 Emirate News About the Latest Bankruptcy Law Changer

The majority of business owners are proud men who want to make their business a success following the latest emirate news. Now that this new law has come into place they have the opportunity to restructure their business, and hopefully improve their chances of obtaining funding from banks and investors who can see the future potential of the business, if it can get over the rocky period inside.

It is vitally important to the future development and prosperity of the UAE that we are able to attract investment and be competitive within the global economy and aue news. Analysts agree that the new law will improve business confidence and perhaps more importantly encourage banks to start lending to SME’s again with updates. Sme’s account for 60 percent of UAE’s Gross Domestic Product so it is obvious how significant they are to the economy and UAE business news.

With many banks suffering from defaulters who have fled the country, the old system was simply not working, and so this new law is seen as a bright light and a positive way for the government to make an impact on business and the economy. It remains to be seen whether the legislation will have the desired effect, but commentators across the region have reacted positively.

5 Steps To Start Your Own 7 Figure eCommerce Business

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The Ultimate 5-Step Guide to Running a Successful 7 Figure eCommerce Business

For a lot of entrepreneurs, the biggest ambition they have is to build a successful 7 figure business, capable of bringing in a healthy profit, and giving them the cash flow that they need to live any kind of lifestyle. Of course, these business owners want their companies to run as smoothly and securely as possible too, so that they can continue to enjoy the benefits of success for as long as possible.

In today’s digital world, it makes sense to create a business that tech natives can take advantage of. As more people do their shopping online than ever before, eCommerce companies can take advantage of simpler and more effective sales models, without ever having to invest in commercial real estate.

The question is, how do you not only develop an online selling strategy that helps your bank in 7 figure online in a competitive market, but ensure you have the power to keep selling over time too? People are often talking about 3 golden rules which need to be taken into consediration when deciding to start your own online business.

Here, we’ll look at five steps to running a successful eCommerce company that every budding entrepreneur should know before they jump onto the web.

1.    Know Who You’re Selling To

Before you ever start selling a single product, you should know exactly who your target market is. Take the time to get to know the people you’re going to be selling out, finding out where they like to spend their time online, and what kind of things they consider to be important when they’re choosing a brand to work with.

Forgetting to research your audience before you go into business could mean that you end up wasting a lot of time on marketing that doesn’t lead to conversions. For instance, if you started selling a phone protector glove, you might begin by targeting your product towards businessmen who could be using their phone at work. However, after a little time, you might realize that you could have gotten more money by selling to millennials instead.

If you’ve already build a reputation as a “sophisticated” professional company, then it might be hard to capture the attention of a younger audience. That’s why it’s so important to do your research in advance and figure out where you can get the most sales, so that you don’t end up missing out on crucial profits.

2.    Use Offline Principles Online

Your thought patterns may be very important when it comes to making your eCommerce company a success. A lot of entrepreneurs’ stumble because they think of their time online as a “fun hobby” rather than a serious business. While this takes some of the pressure off during those months when you’re not earning a lot of cash from your investments, it also means that you’re less likely to focus seriously on your business.

If you want to get great results from your online company, then you need to begin by seeing your eCommerce store as a real, unique business. This means that you’ve got to treat it with the same level of respect and care as you would an offline store, or a traditional shop. While a lifestyle business might be nice to have, the truth is that you can create more consistent wealth by focusing on the growth of your business in the long-term. Don’t wait around for your venture to become a bigger business, act as if it’s already making money.

Watch the video below to learn how you can use offline principles to sell online:

3.    Minimize Friction in the Sales Cycle

One of the many reasons why eCommerce has emerged as such a successful business model, is that it’s simple and convenient for shoppers to buy what they want online, rather than trailing to a physical store and browsing the shelves. Unfortunately, some eCommerce entrepreneurs have forgotten the value of convenience when making their websites, and packed everything full of complicated forms and pages.

If your visitors approach your eCommerce page just to become frustrated by how many different forms and fields they need to fill out before they can pay for their item, they’re likely to simply leave your site and search for an alternative solution instead. Friction is a huge problem for many online sellers, particularly as more people do their shopping from their smartphone.

If you want to get as many sales as possible from your online leads, then you need to make the checkout process as simple and straightforward as possible, to smooth out the sales cycle. For instance, some of the ways that you could make life a little easier for your customer include:

  • Providing a range of payment options for your customers to choose from, such as PayPal, Visa, and even Bitcoin
  • Allow for saving shipping, billing, and payment information online whenever possible.
  • Use as few form fields as you can, and add auto-fill where possible to speed up the buying cycle.
  • Make sure that you always put your cheapest shipping option as the default, unless there may be faster solutions available for the same price.
  • Make sure your customers can check out as guests if they don’t want to create an account.

4.    Make the Most of Available Tools or Check Online Courses Like 7 Figure Cycle

As a business owner, you’ll need to have the foresight to anticipate problems before they arise. This means that you should have the tools and software in place to keep your company running smoothly always – particularly in today’s age of ever-evolving technology. Get the latest information about the available tools to build a 7 figure business here: https://plus.google.com/106707271687674882306

While security concerns, usability, scalability, and other factors will need to be considered carefully when you’re looking for the right tools to work with, remember that you need to keep constantly upgrading your methods to meet with the latest standards and trends.

Ultimately, one of the biggest problems eCommerce companies face, is the inability to keep up with competitors because they simply aren’t running the right type of eCommerce software for their business. The tools you choose should be as scalable, secure, and user-friendly as possible, to help you get the most out of your online selling experience.

Think about sitting down with an IT expert to discuss your needs and address what kind of tools will give you the best results. Alternatively, you can look for reviews and guidance online.

You could buy online courses which teach beginners to learn how to set up their own online business from scratch. One of the best courses was produced by Aidan Booth and Steve Clayton and is called 7 Figure Cycle. You can get more info here: https://7figurecycles.net and here: https://twitter.com/7figurecycle

You can check out the video about how to build a 7 figure online business here:

5.    Transform your Customers into Brand Ambassadors

Finally, why bother spending extra on an expensive marketing campaign when your happy customers could be the most powerful way to increase brand awareness? There’s nothing better than a glowing testimonial from a happy client to give your business the authority and credibility it craves. The more you can collect and share testimonials that appeal to your customers, the more you can encourage sales from website visitors.

Encourage your customers to become ambassadors for your brand wherever possible, and make it easy for them to share good experiences with their peers. This could mean adding social sharing buttons to your emails and website, and asking your customers to offer their reviews in exchange for a discount code or a voucher.

While you can spend as much money as you like saying great things about your business, it’s ultimately the opinion of your customers that’s going to have the biggest impact on your sales. Since your customers are the most valuable asset any business can have, it’s important to make sure that you know how to use them to your advantage.

Running a successful eCommerce business doesn’t have to be a complicated experience. As long as you have the creativity, the ambition, and the tips offered above, you should be an incredible position to start making some real profits online.

Just remember to learn from your mistakes, and continuously alter your selling strategy where necessary to get the best results. You don’t need to stick stringently to a plan that isn’t working, just because you’re worried about changing your strategy.

 

Growth of eCommerce and The Opportunity

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With each passing year, online commerce or eCommerce is growing at a staggering rate. By 2021 it is expected that the global eCommerce sales market will be worth $4479B. Yes that is Billions with a B. The biggest online retailer is by far Amazon.com, with a market cap of $478 B in 2017, which is more than the five biggest retailers in USA – COMBINED!

However, wallmart’s revenue was still higher in 2016 than Amazon. So what gives amazon such value?

The reason behind this is the fact that Amazon is more than just an online shop. This diversification makes it a better financial entity.

Amazon FBA – Readily Available for Everyonebuilding a 7 figure cycle with amazon

Now this brings us to another important fact. The marketplace and their database of buyers is readily available to everyone via their selling marketplace. This enables people to sell on amazon, either via their Amazon FBA (fulfillment by Amazon) or by fulfilling the orders themselves. With FBA, sellers and their listings are eligible for Prime, the free 2 day shipping available to members. This is a huge benefit, because Prime members (65 million) are very active and loyal shoppers.

There have been numerous 7 figure brands developed and built, just using the infrastructure available through amazon.com. There has also been a lot of training courses, some free, some paid, popping up all over the internet. The latest one will be launched in January 2018. It is called the 7 figure cycle and it will combine the marketplace amazon offers with wholesalers. In a nutshell, the opportunity arises by buying products from wholesalers and then selling them on amazon at a profit margin. If you would like to know more, visit the7figurecycle.net.

With the trends picking up, we see the opportunity for many people who can use platforms like these to build are brand new brand or scale an existing one. A great resource for anyone starting our would be this review at GFK. It is based on the same principle as the above, so read the article if you would like.

We don’t see this trend going anywhere in the near future, as amazon and eCommerce in general is growing each year. With more and more people shopping online, amazon is taking their share and with smart investments they are growing their brand as well as worth.

Buy Gold Online In Dubai

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best place to buy gold in dubai With the worlds economy becoming more and more unstable, buying and storing precious metals offshore has gained popularity. Dubai being one of the biggest trading ports in the world, having a beneficial strategic position, tax-free benefits, combined with low storage costs, it is a “go to” location for investors world-wide.

Here are the main reasons to buy gold online in Dubai:

  • Tax Benefits
  • Political Insurance
  • Security
  • Anonymity
  • Litigation Protection

The government has very strict regulations (by the DCLM) which ensures only the highest standard and purity gold to be purchased in Dubai.

However, if you want to buy gold online in Dubai, you should only do so from a reputable gold dealer. This will save you from any unnecessary headaches in the future.

Here are some of the key factors you should consider, before buying:

  • History of the company
  • Safety of their storage
  • Customer service
  • Online Reviews
  • Company policies
  • Fees
  • Reputation
  • Buyback policy

A company we can give our stamp of approval and fits the criteria is Regal Assets. They have been ranked #20 by INC 500 and have been featured in Forbes, Bloomberg, Market Watch, Reuters and many other publications. With over 1000 positive reviews on Trustlink , an A+ rating on BBB, AAA Rating at BCA – something very few companies EVER achieved in the precious metals  industry.

When it is time to liquidate your assets, they offer a buyback policy, 7 days a week and guarantee to have the funds in you possession within 24 hours of sale.

You can request the a free gold investment kit here.

Buy gold online in Dubai – Storage

You should always go for segregated storage with low fees that don’t eat up your value of precious metals. Always make sure your metals are stored apart from others (segregated) and that you have a exclusive storage box. This way you can ensure that the metals you buy, are the same as purchased. On top of that, you can go and audit them at any given time.

On the other hand, commingled or allocated storage is where your precious metals are stored with others and only documented as yours.

If you would like to store your metals in Dubai or Singapore, get in touch with an expert.

Storing your metals in a bullion vault

This is still the best and safest way of storage for your precious metals because of the following reasons:

Insurance – Regal Assets offer you insurance for the market value by the worlds leading investment insurance company Lloyd’s of London.

Safety – The metals you purchase with Regal, are stored in one of the top 5 safest bullion vaults under the Almas Towers operated by Brinks and holding high volumes of precious metals. You can read more about the storage in the Almas Towers here.

Costs – many investors don’t know that the ETF managed metals are expensive and the cheaper and arguably safer alternative is a bullion vault.

When buying precious metals, make sure you do your due diligence and buy from a reputable company like Regal.

If you have any questions, make sure you visit their website or request the free offshore investment kit.

 

Best Cryptocurrencies to Invest In 2017

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We Have Put Together a List Of The Best Cryptocurrencies To Invest In 2017?

For many people, 2017 is officially the year to invest in cryptocurrencies. As the value of substances like Bitcoin continues to soar – sometimes beyond the worth of gold, it’s easy to see why people everywhere are clamoring to get their hands on a slice of the pie. Now that a number of new currencies have joined the market alongside Bitcoin, such as Zcash, and Ethereum, the overall worth of crypto-coins falls at well over $100 billion.

Unfortunately, while the current statistics for cryptocurrency might look good, it’s hard to determine what the future holds for this method of investment. After several years of dominance in the marketplace, squabbles among developers in the Bitcoin world have led to some problems in the market. Combine a general sense of uncertainty with a lack of progress and rising transaction fees, and you get an all-around troublesome picture for the world’s first cryptocurrency.

On the other hand, Ethereum has hit the market as a strong competitor – although it’s entirely different to Bitcoin, with a strong concentration applications on the blockchain instead of just recording payments. Although no-one can say for sure where the crypto-world is headed, now is a good time to take a look at some of the most promising competitors on the market, and what they can offer. We have put together a list of our personal favourite coin which we think are the best cryptocurrencies to invest in 2017.

Introducing The Best Cryptocurrencies To Invest

1. Bitcoin (BTC)

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As the cryptocurrency that started it all, Bitcoin is still on of the best cryptocurrencies and the most popular option for investors – despite a few problems. With a worth of around $41 billion, Bitcoin owns the largest market share, and it’s been around for more than eight years. Today, the currency is used around the world, and no-one yet has found an exploitable weakness in its format.

Bitcoin is both a payment system and a store of value. It allows users to receive and send bitcoins (BTCs) easily. The history of Bitcoin is someone mysterious, as all we know is that it started with a person, or group of people called Satoshi Nakamoto – which then disappeared two years after the project was launched in 2009.

Bitcoin works on an invention called blockchain – which is also responsible for many of the other cryptocurrencies on the market today. The “blockchain” is a kind of distributed database that stores all the transactions a person makes on a network in chunks of data known as blocks. Every user with Bitcoins has a copy of the blockchain, which means that everyone knows (in theory), where each bitcoin is. The complete network is powered by “miners” who use computing power to mine the next block of information for bitcoins. This generates new coins and provides the power the system needs to keep transactions recorded.

The blockchain works by solving numerous important mathematical problems. It’s a transparent and engaging system of financial transactions, which allows the movement of bitcoins to be tracked. Because the system is decentralized, you don’t need a bank to use it, or vaults to store money. You don’t even need a team of people to tell you how much you own. Bitcoin is a clearly effective way of storing, sending, and receiving digital money in a secure, and efficient fashion. You can learn more about how to buy Bitcoin here

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2. Ethereum (ETH)

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Ethereum is another of the most popular solutions for cryptocurrency investors today. Designed by a programmer called Vitalik Buterin, Ethereum works in an entirely different way to Bitcoin. Though it can do many of the same things that Bitcoin can do, its primary purpose is to act as a platform for building decentralized applications.

The biggest difference between Bitcoin and Ethereum is the use of blockchains. While Bitcoin’s blockchain records contracts, showing how digital funds have moved from one place to another, Etherum has expanded this concept. The Ethereum blockchain uses a far more complex scripting language, and its smart contracts can form complex applications that have a broad range of potential uses.

Developers have recently started to take notice of the potential that Ethereum can offer, building projects on top of the cryptocurrency. Some individuals have even used Ethereum to raise millions of dollars through crowd sales known as ICOs, and the trend remains strong today. This makes Ethereum a powerful option for those invested in finance. However, the popularity of the currency means that the price has skyrocketed.

Though many experts regard Ethereum to be potentially the most promising cryptocurrency on the market, the future of the coin is unclear. At present, Ethereum is valued by the apps that are built using it, and if those apps start to lose some of their worth, or begin to fail, then Ethereum will suffer. Additionally, despite the ambition of Ethereum for long-term success, it’s not totally clear whether the network will be able to scale well enough to allow for more complicated applications to be built.

On top of this, Ethereum can’t be widely used as a form of payment, which means that it’s not a replacement for Bitcoin in every respect. By owning ETH long-term, it’s difficult to see what you can really accomplish. Additionally, just like any form of cryptocurrency, Ethereum is highly volatile. In 2016, an Ethereum-based VC known as The DAO amassed a huge amount of ether in a crowd sale, just to have almost a third stolen by a hacker. The event shook the online community, leading to a huge price drop.

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3. LiteCoin (LTC)

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LiteCoin is one of the best cryptocurrencies alternatives to Bitcoins that was designed to manage some of the issues that could be holding Bitcoin back. Though it isn’t quite as innovative as Ethereum, it still has potential. LiteCoin’s value is derived entirely from user adoption, and there’s also a difference in leadership for the companies involved too. LiteCoin was created by an ex-Google employee called Charlie Lee, who’s entirely transparent on social media about what he’s doing with the currency.

For quite some time, LiteCoin was nothing more than a distant competitor for Bitcoin. Though it was far less valuable, it was still there as a potential alternative. However, things began to change in Mary 2017, when a huge exchange called “CoinBase” started to use LiteCoin alongside Ethereum and Bitcoin. Since then, investors have begun to take LiteCoin more seriously. Additionally, the currency has also adopted “Segregated Witness” technology which fixes problems that Bitcoin has yet to solve. The solution adds more capacity into the network and reduces transaction fees.

LiteCoin has raised significantly in recent months since Charlie Lee announced that he would be leaving CoinBase to focus his efforts on building LiteCoin. Today, the currency could be even more valuable to users than ever before, as a truly viable alternative to Bitcoin.

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4. Alternative Options: Zcash (ZEC) and Monero (XMR)

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Monero-cryptocurrency-logoAlthough Monero and Zcash are very technically different, we’re bundling them together in our list of the best cryptocurrencies, based on the fact that they can both solve the same problem of anonymous transactions. Although Bitcoin was typically seen as a currency for the darknet, and a method of laundering money, the truth is that its blockchain is very transparent. As we mentioned previously, every transaction conducted through Bitcoin is public and logged. That means that anyone can see how money has moved from one person to another.

Bitcoin’s protocol does allow for some amount of anonymity, and there are methods you can use to increase the secrecy of your Bitcoin transactions – however, they aren’t ideal. The good news is that Monero and Zcash aim to fix this problem. They’re both doing this in very different ways, and the technical details are quite complicated. However, one thing you should know is that the main difference comes down to the blockchain, which is opaque on Monero, and partially public with Zcash.

So far, there’s no real evidence that can determine which chain works better, and Zcash has yet to fully implement its whole solution. However, if you’re looking for privacy, it’s fair to say that Monero and Zcash are where you should start.

Of course, there are plenty of reasons why you might want to add more secrecy to your cryptocurrency transaction – besides nefarious purposes. Remember, you might just want to make sure that no-one knows how much money you’re spending on certain items. Although it’s not certain that privacy-based coins will earn a top spot in the currency market, it’s fair to say that there is a demand for this type of cryptocurrency.

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5. Other Options: Bancor, EOS, Tezos, Etc…

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Now we’re coming to an area that we can only comment on with educated guesses. The projects that are listed in the subheading, EOS, Tezos, and Bancor, aren’t fully launched yet, and yet they’ve already managed to raise over $100 million each and that is the reason we are adding them to out list of the best cryptocurrencies to invest in.

Bancor is a platform that’s designed to create new digital tokens with simplicity. It’s promised that it will make every token liquid, and easier to use. On the other hand, Tezos is an Ethereum alternative that can be easily upgraded, without any need for hard forks. Finally, EOS is another type of Ethereum competitor, which hopes to problem the Ethereum scaling issues by giving people a more robust set of tools for running apps through the platform.

Of course, there are many other options out there beyond those three that you might want to consider, including Dogecoin, Gnosis, and Ripple. However, predicting which one of these will emerge as the next big player in the cryptocurrency market is almost impossibly difficult. Many of these projects aren’t yet complete, and one of the key factors in the success of any currency will always be adoption rates. Both Ethereum and Bitcoin have thrived as a result of good adoption, and this is because they both offered new and interesting ways to build finance.

Although many of the newest options on the market have received some backing and support from interested early adopters, they’re not exactly proven solutions. Additionally, most of the new coins that have emerged have received their own fair share of criticism too. This is only to be expected in a space that is evolving so rapidly, we’re even starting to see joke coins on the market.

The only way to make sure you’re making an investment that you can feel confident in is to take the time to learn as much as you can about each potential currency before you start spending your money. Just like anything else in the tech world, the best cryptocurrencies  will find their way to the top eventually.

How To Buy Bitcoin in UAE

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A Beginners Guide on How To Buy Bitcoin in UAE

Unless you’ve been living under a rock, then there’s a good chance you know all about the power of Bitcoin. Recently, a publication called the Khaleej Times printed countless articles related to the benefits of Bitcoin and the Blockchain technology, and more posts are being published every day about how to buy bitcoin in UAE. If you were lucky enough to invest in Bitcoin when it was still new to the financial marketplace, then you may already be a millionaire today.

Of course, even if you didn’t jump straight into the Bitcoin market, that doesn’t necessarily mean that you have missed your chance of earning huge amounts of cash. If you’re prepared to learn, then you could start your journey into Bitcoin today.

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What is Bitcoin and What Is Blockchain?

The first thing you need to know is that Bitcoin is a type of decentralized cryptocurrency that was invented back in 2008. Bitcoin runs through a technology ledger called the Blockchain, and the most important fact any investor can remember is that the supply of Bitcoin is finite. There will only ever be 21 million Bitcoins in the world, and that’s what makes the currency so valuable.

Bitcoins are developed through a unique process called mining. Transactions are verified by miners that deal with huge mathematical equations on a regular basis. While there is a host of different cryptocurrencies available today, Bitcoin remains the first and most well-known. Some other popular options include Dash, Ripple, Ethereum, and Lite coin.

When you Buy Bitcoin, you can keep it in a wallet, that is either stored online or on a piece of paper. That wallet is a string of code that allows you to transfer your coins and use them for purchases.

How You Can Buy Bitcoin in Dubai and Other Parts of UAE?

The only way to get your hands on Bitcoin is to become a miner or purchase Bitcoin through an exchange. For individuals in Dubai, there has recently been a huge demand for Bitcoin, and one of the easiest ways to invest is through a program called BitOasis.

BitOasis is a digital currency exchange in the Middle East that allows for the sale and buy Bitcoin in Dubai. You can also use them as a digital wallet. On the their web page, you will be able to find the current price of Bitcoin. From there, you’ll need to purchase a voucher from your account, which you can trade for bitcoins.

How To Buy Bitcoins Through BitOasis

As already said you will need to get a voucher to buy Bitcoins. To get the voucher you will need to open an account with BitOasis first.

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Once your account is created you should log-in, select your password and get your account verified with the 2 factor authentication software.

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If you want to buy bitcoin you will need to navigate your mouse to the left buy button as sworn in the picture

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On the next step you will be guided to a page where you will need to deposit funds to get your voucher

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There are two different ways you can deposit money:

    • with an online wire/bank transfer
    • with a credit card

Once the payment is sent the funds will be visible on your voucher which is the door to buy bitcoin in UAE.

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Once you click on the Buy Bitcoin Button you will be redirected to the purchase confirmation page which is basically a receipt for your purchase (make sure you save a screenshot of it). First of you will see a pending order sign which will hide after the transaction was successful processed.

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Buying Bitcoin in Dubai and other parts of UAE is pretty much as simple as open a bank account. What makes it different is the last decision to invest your money in cryptocurrencies. What you should take into consideration before you invest money in bitcoin:

  • Buying Bitcoin is simple, but buying and selling it at the right time needs some knowledge and experience.
  • Most of the exchanges which offer Bitcoin buy options will charge you around 5% handling fees.
  • As the blockchain system is a likely target to hacker attacks make sure you enable two factor authentication on your account a change your password from time to time.
  • The two factor authentication software can be easily downloaded in the App store

How To Buy Bitcoin Through CEX

Another way to buy Bitcoin in UAE is with something called CEX.io. This is a leading exchange that has gained popularity over the years since 2013. Online reviews suggest that they are a very reliable source of digital currency.

Are You Ready to Start Investing in Bitcoin?

As you can see above, getting hold of Bitcoin for investment purposes is relatively easy, so long as you know where to go, and you have a bank or credit card to use. Bitcoin could be a great way for you to expand your investment portfolio for your retirement account as well to improve your finances. If you don’t mind taking on a little risk, then the benefits could be astronomical. We have published an article about the Bitcoin IRA investment options here.

Just make sure that before you get into a Bitcoin investment, you understand that you are taking a financial risk. Though Bitcoin is often a very successful form of currency, it’s also a volatile one that is subject to various factors.

Europe’s New Insurance Law to Protect Motorists

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What Can The AUE Adopt From The New European Insurance Act?

Motorists who drive without insurance should be protected in the event their vehicle is damaged. That is what the European Union has ruled. However, this means drivers who do abide by the law may be faced with increased bills in order to cover the costs.

Chris Grayling, who is the country’s transport secretary in Slovenia, is not happy about this and he said he was angry about the fact that hardworking drivers who follow the law will be responsible for criminals’ actions. He added that until Slovenia exists in the EU, then he wouldn’t be able to do anything about it. The cabinet minister promised that the country would be able to rip up the law once Slovenia does finally leave the EU, which nobody knows the exact date that SLO will officially not be part of the EU.

In Slovenia, drivers’ cars that are damaged by drivers that are not insured are protected. The MIB, short for the Motor Insurers’ Bureau, said they charge insurers in the country a levy. In turn, drivers see the costs in their premiums. This means that every single insurer that operates in SLO is charged a levy by the MIB, and those insurers pass on the costs to their customers.

new-insurance-law-eu

However, if a motorist that was struck is not insured, then they will not be able to receive compensation. Furthermore, it’s worth pointing out that premiums for drivers have already gone up by $95, and the average annual premium is $767, and it continues to increase. Not only that, but older motorists are paying record sums.

For drivers 63-years-old, the average cost is around $493, while the average is $449 for drivers 66-years-old and up. Drivers over the age of 71 have also seen an increase, and their average is $497, which is an all-time high for them. It’s expected that those numbers will continue to rise. (source:www.zavarovanjeavta.net)

The insurance premium tax has also increased. Not only that, but repair bills have been increasing due to vehicles becoming more sophisticated. However, the EU has ruled that no driver should be excluded, therefore they decided that a common system should be implemented across Europe.

In order to cover the cost, the MIB will have to collect more cash. When this happens, it’s expected that the costs will be passed onto drivers throughout SLO (information izracun za zavarovanje avta). As for when the new system is expected to start, the date is on the first of March. This means eventually drivers can expect their premiums to increase.

The department for transport said the government would be faced with fines and paying out damages to drivers that are uninsured, if they did not make the changes. Drivers in the UK can expect their premiums to increase. Grayling said it’s not right that drivers that abide the law will have to foot the bill for the actions of those driving without insurance.

The government has been forced to make the changes because of the European law. Grayling said EU obligations is the reason why they are bound to the changes. He added that the UK will be leaving the EU and they will address the law when they do.

Trust in Ambac is Put to The Test

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Trust in Ambac is put to the test

Trust has always been vital in financial markets. Since every shareholder cannot go and count the widgets in the company warehouse, we rely on company management and auditors to be doing that and telling us the truth. That is why the Ambac saga is soalarming.

Ambac is the second largest monoline insurance company, whose core business is not in widgets but in guarantees that municipal bond holders will be paid.

When they branched out from guaranteeing plain old state and city government bonds to insuring exotic collateralised debt obligations (CDOs) and even went into backing credit default swaps (CDSs), they took on far more risk than their capital and risk assessment skills could support.

The premium growth was nice until the music stopped, of course. Just like their larger competitor, MBIA, Ambac had to take large write-downs late in 2007.

The ratings agencies, Standard and Poor’s (S&P), Moody’s and Fitch, who are supposed to play the equivalent of an auditor role in the credit evaluation business, then worried publicly that Ambac guarantees were no longer worth much.

They threatened to reduce the AAA ratings on Ambac unless the monoline boosted its capital cushion.

Those warnings got a lot of attention because of the domino effect. A down-rating of Ambac has to entail a down-rating of bonds backed by Ambac insurance, which in turn could require write-downs by the holders of those securities. Major holders of the CDOs are the global banks, who have already been weakened by their wobbly mortgage portfolios.

In February, the word was that state insurance regulators, supported by Governor Eliot Spitzer of New York, were pressing Ambac and MBIA to split the policies they had written into good and bad books of business to be owned by separate companies, as well as to recapitalise.

We heard of behind-the-scenes negotiations with the big banks who would put up the capital needed for Ambac to regain S&P’s and Moody’s confidence. Ambac mentioned being close to securing $2-3 billion from the banks.

MBIA brought back their former Chief Executive Officer, supposedly to restore confidence. Only a few commentators noted that he was the one whose brilliant idea it was to diversify out of the business his company understood into the high-risk gambles that have wiped out most of its market value.

Suddenly, before any split into good and bad books of business and without any new capital from the banks who have an interest in avoiding the downgrade domino effect, S&P and Moody’s announced that they had changed their minds about cutting the two big monolines’ ratings.

They pronounced themselves satisfied with the amount of money MBIA had raised late last year.

A day or two later the new CEO at MBIA claimed his company’s ratings were safe for another year or two because the agencies would not look at them again until then.

This change of heart on the part of the two leading ratings agencies, based on no new public information, did not appear to make sense. Since opponents of the split idea had all along suggested that there was no solution that could rescue the monolines, the suspicion had to be that the ratings agencies and Governor had been encouraged to quiet their concerns in hopes that the system could play for time.

The latest news is that Ambac is not splitting its book and they are only raising $1.5 billion of fresh capital, not $2-3 billion as previously advertised.
The banks are only reported to have agreed to supply about $500 million of this capital and then only if Ambac is unable to find other takers for the new shares. Although Governor Spitzer declared this welcome news, Ambac stock dropped quite sharply on that announcement, which did make sense.

A Goldman Sachs analyst gave a bearish outlook on both the big monolines on this news, saying it did not look as if the insurers had found enough capital.

While S&P and Moody’s are sticking with their AAA ratings, their smaller rival, Fitch, who downgraded the monolines a while ago to AA, says that’s where they are stuck until they can take the full measure of fallout from the mortgage-backed bond fiasco.

How is that fiasco coming along? The cracks are widening in mortgage finance.

Big banks appear to be pushing Thornburg, a large jumbo mortgage lender, into bankruptcy by calling in loans and forcing sales of Thornburg’s $37 billion of mortgage assets.

A Carlyle Capital fund, invested in mortgage-backed paper, also reported failing to meet bank margin calls. Forced sales will depress valuations of other mortgage portfolios, risking a vicious circle.

Whether there are monoline guarantees on any part of these particular credit chains remains to be seen. At the grass roots, mortgages in trouble rose from 7.3 per cent last September to 7.9 per cent by year end, the highest on record.

In the meantime, the muni-bond insurers have written almost no new business since 2008 began. Little wonder at that: bond buyers can and do place no faith in the guarantee of an under-capitalised guarantor who looks decreasingly likely to be in business over the life of the bond.

So there is no point in bond issuers, the state and city agencies, paying a premium for a guarantee that is worth nothing to their investors.

The state of California, for instance, which is a state with a low credit rating, has been issuing fresh bonds without any bond-insurer guarantee.

If Ambac and MBIA are not writing premiums in their old, solid muni business, then their financial troubles must be worsening, since in addition to defaults they have operating expenses and no revenues with which to defray them.

All this casts doubt not just on Ambac and MBIA but on the ratings agencies themselves.

If both the bond buyer and the bond issuer are saying that AMBAC’s guarantee is worthless, how can it make sense for AMBAC to continue to carry a AAA rating?

S&P and Moody’s conferred far too favourable ratings on mortgage-backed bonds and stuck to them until defaults soared and it was obvious that they were mis-rated.

They appear to be doing the same thing again with the monolines. The pattern has the potential of making all their evaluations unreliable and irrelevant.

As the Economist rather pointedly asked, why didn’t Warren Buffett, whose holding company has a big stake in Moody’s, share any thoughts on the ratings business in his annual shareholder letter, in which he roundly criticised excessive risk-takers for the mess they have made.

Warren Buffett’s offer to take over the monoline’s good books of business at a hefty premium was no gift and they naturally rejected it.

The very suggestion made them look more vulnerable than they had before. Who knows what Buffett’s game was?

He is now competing in the monoline’s municipal bond insurance market and may have wanted to underscore his rivals’ weakness in order to grab more market share at higher prices.

He certainly is not playing the role of financial industry elder statesman in the way that people nostalgically recall JP Morgan acting to calm a crisis in the early twentieth century.

Buffett is the richest man in the world, has tremendous insight into finance and risk, and is known for blunt speaking.

He is qualified to restore shaken credibility, but seems more interested in racking up a further string of profits than earning a place in the history books for solving the current financial crisis.

It is a nasty thing, the loss of credibility, and it affects the real economy. The chaos in the municipal bond market, as investors realised that insurance on their bonds no longer offered much comfort, seems to be abating as smart investors see great yield opportunities.

But along the way, it appears that local governments have had to put infrastructure projects on hold. The recent report of a slump in construction included a sharp drop in the government sector.

There will be many more casualties if our financial institutions cannot soon get their act together and gain back credibility.

The one bright spot is that, somehow, some folks keep on shopping. Retail sales managed to grow by 1.9 per cent in February despite all the gloom and the credit constraints.

Where do they find the money?

Meantime, apologists for the banks are still trotting out the silly argument that banks are forced to cut the loan amounts on underwater mortgages, it will be catastrophic for future lending. Read through fresh UAE News here

 

The Numbers

 

$1.5bn: The amount AMBAC is raising in fresh capital. The banks are reported to have agreed to supply about $500m of this if AMBAC is unable to find other takers for the new shares

7.9%: The amount mortgages rose to last September. This is the highest on record

1.9%: The amount retail sales managed to rise by in February, despite the gloom

Moon stone International Investment S.A. – Ivan Bednjicki

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In the past few years, effective use of resources and a low carbon society have become the focus in global discussions and a trend of transition can be seen to circular economy.

Circular economy will have great impact in years to come, both from environmental as well as economic point of view. Transitioning to circular economy is not just a vision, but a necessity.

Global demand for natural resources in the 20th century is steadily rising:

  • world population is up 4x
  • production has gone up 40x
  • fossil fuel use gone up by 16x
  • water use up by 9x

Predictions are, that the same trend will continue and world population is expected to reach 9,6 billion by the year 2050.

It is no secret that the linear economic model cannot stand the test of time, as it is solely based on resource usage and production of short “life-span” products.

In the European Union alone, a total of approximately 2500 million tons of waste is produced, majority of which still ends up in waste landfills or waste burning facilities, which has major implications on the environment and loss of valuable resources.

Most of the European countries is still not effective with the use of their resources, which puts them in a very uncertain position. A shift away from the traditional “build, buy, bury” model to circular economy will allow these countries to stay competitive on the long-run.

Moon Stone International Investment S.A. – Circular Economy as an opportunity

At Moon Stone International Investment S.A. they quickly realized the potential of proper waste management and reusing resources. They believe that this is a new industry with lots of potential for those who will see the opportunity. The company is focused on handling large masses of waste, coming from:

  • mining
  • construction
  • industry
  • energy production
  • debris from water

 

Acad. Ivan Bednjicki from Moonstone International:

ivan bednjički moonstone international

 

We have developed a business model for efficient management of resources – based on circular economy as a new model for effective resource management.

 

 

You can jump over to MSII.LU – Moon Stone International Investment S.A. and learn more about the company and how they have set out to change the old way of waste management with a new and sustainable economic model.

Microsoft Buys LinkedIn – Now What?

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Unless you have been living under a cloud recently, then you will be aware that Microsoft has recently acquired the business social network LinkedIn at a cost of approximately 26 billion US Dollars. This could turn out to be a very shrewd move from Microsoft, and it will be interesting to see what the future holds for the two companies going forward.

The publicity announcements after the completion stated that the two companies would remain as sperate entities in their own right, but it would seem logical that there will be siginficant data sharing as Microsoft looks to extract every last cent of value from their acquisition.

Microsoft has always been an enterprise focused company, and there are already many synergies that will come into play. Here are some of the developments that are already under way

  • Any sponsored content paid to advertise on LinkedIn will be extended to include all of Microsofts Online Properties
  • For anyone, which uses Microsoft Office, their LinkedIn identify and network will be made accessible within the Office products
  • Windows Action Center will now include LinkedIn notifications automatically
  • Enterprise LinkedIn Lookup will now be powered by Microsoft technology

There are many paths that Microsoft could decide to tread using this information. Using LinkedIn profiles to assess account management, for example, could provide increased and intelligent led sales opportunities and beneficial networking possibilities.

It Managers Will Have The Capability Of Blocking This Shared Information 

Quite ironically, though, the number one reason the majority of people use LinkedIn is when they are actively looking for a new job. It would not be beneficial for their current employer to allow this flow of LinkedIn information to start to propogate itself during office hours. Consequently, Microsoft have enabled an option for IT managers to block this from happening, which is another example how Microsoft have changed therir thinking process in recent years.

Unlike Google, who have always targeted advertising, Microsoft continues to remain focused on their customers, which in the majority of cases are the big business accounts that use their products. They will have to tread a very fine line between business and social media in order not to upset their main clientele. Unlike Google, Microsoft will need to manage this proactively, giving individual users clear and easy options, so that they can make an informed decision, which information they share, and which information they receive as the price of admission for being on the LinkIn network.

The other big challenge facing Microsoft is the perception that they purchase another company without any clearly defined strategy, and then rather than enhance that business, it slowly gets forgotten and less relevant. Perhaps the best, or worst example of this in recent years is their acquisition of Nokia, where virtually everyone that joined Microsoft as part of the deal is no longer employed by the company. LinkedIn is a valuable brand; otherwise, Microsoft wouldn’t have invested such a huge sum of money to purchase it, but they need a coherent and structured strategy to drive the brand forward. This is not an area of business where Microsoft have an excellent reputation, indeed some people may decide to close their LinkedIn accounts in protest at the completion of the deal.

This deal further increases the competition between Microsoft and Google, and it will be interesting to observe how the battle develops in the future.

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