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chinese fintech firms explore investment & partnerships with indian firms, techn


several digital lending startups have been receiving a unique set of visitors in recent months: chinese lending companies looking to set shop in the country.at least half a dozen chinese financial-technology companies have held multiple meetings with the founders of digital lending startups in india for investment as well as partnership opportunities, according to domestic entrepreneurs involved in those discussions.while india’s rapidly growing fintech sector appears greener to the chinese companies because of a regulatory clampdown back home, domestic firms stand to benefit from their chinese counterparts’ ability to innovate and robust business models.“we started looking at the india market in october. i have made several trips to do the groundwork for our market entry since then,...






don't block chinese electric car firms, india urged


beijing: saying china can help new delhi electrify all vehicles by 2032, a chinese journalist on wednesday said it will be in the indian people's interests if chinese firms set up plants in india. "any efforts to raise trade protectionism barriers would be counter-productive," said hu weijia of the state-run global times. in a commentary titled "india should not block chinese firms from catering to demand for electric cars", hu said new delhi's ambition to promote the use of electric vehicles would probably lead to another wave of investment. india is now a major investment destination for chinese smartphone vendors. in the past three years, chinese smartphone brands have stepped up their investment in india, one of the fastest-growing smartphone markets in the world, hu said in the ...






ronit ghose, citi research, technology news, ettech


some indian banks, especially state-run lenders, may end up on the losing side in the competition with financial technology firms, said ronit ghose, global sector head for banks at citi research.while india is a huge fintech opportunity, it may take a long time to become the next china, ghose told saloni shukla in an interview. edited excerpts:china is dominating the global fintech space, but overall fund flows have slowed down. is that likely to continue and where does india stand?if you look at fintech investments in 2016, it was split between china and the us which accounted for 80% of global fintech vc investments.this year, q1 started slow and vc investing was down roughly 30% - q1 looked quite weak as compared to last year, particularly in china. this year, the biggest deal done glob






us hedge funds buy into indian it as things look up, technology news, ettech


large us hedge funds such as oaktree capital, blackrock and elliott management are boosting their investment in indian it services firms, giving an indication that they are betting on a growth revival for these firms on the back of the push for digital transformation.adoption of digital technologies has resulted in slower growth over the past few years, but analysts say the overall market is expanding as companies will have to increase their technology spending to keep up with nimbler rivals. the sector is seeing increased interest from private equity funds as well.oaktree capital, a large alternative investment management firm, raised its holding in infosys to 2.86 million american depositary shares at the end of december from about 32,000 three months earlier, the fund’s filings with t..






global internet firms upset being kept out of 'indian' e-commerce policy body, t


a think tank led by indian e-commerce and internet firms has begun the groundwork to help the government bring out a draft policy on e-commerce by august. however, there is a call by some global firms and offline-retailers body to be included in the working group. the members have been given two months’ time to prepare reports on various aspects of the commerce industry, following which there will be deliberation for a month for a new policy. the 70-member think tank met the union commerce minister suresh prabhu for its first deliberations on tuesday.it includes indian internet leaders such as flipkart, ola and paytm as well as officials from ministries of finance, home affairs, corporate affairs and electronics and information technology, besides representatives from telecom, it and e-c..






chinese vc funds rush to buy stakes in indian startups, technology news, ettech


after chinese corporations, it is now the turn of venture capital funds from asia’s largest economy to scout for the next big indian internet investment. nearly half-a-dozen such firms including qiming ventures, morningside ventures, cdh investments, 01vc and orchid asia group are looking to buy stakes in indian startups across financial and education technology, e-commerce, content and online classifieds.some of these funds are also on the lookout for more mature deals as they aim to “make the most of an investor vacuum and retain an upper hand on pricing before the space gets crowded,” according to two people aware of the strategy being adopted by these funds.“morningside ventures, cdh investments and qiming venture capital have been in talks with several companies since the star...






indian it firms budgeting larger amount of money for lobbying in the us, technol


indian outsourcing firms are allocating larger amounts of money to directly lobby with lawmakers in the us in a bid to counter the rising threat of protectionism in the world’s biggest market for technology services.the country’s largest software exporter, tcs, spent over a third more in 2017 on lobbying expenses while rival infosys hiked its spend by nearly five-fold. in contrast, industry grouping national association of software services companies recorded a drop of 11% in lobbying expenses last year according to a washington-based research group.“earlier companies used to shy away from directly lobbying and used trade bodies,” said kartik maheshwari, leader for technology companies at law firm nishith desai associates. “indian technology companies are recognising the current ...






indian it firms turns to bots to improve productivity, technology news, ettech


indian it firms are now taking bots deployed, which were so far deployed internally, to their clients as they pass on benefits of efficiency and improved productivity.bots can be described as software that acts autonomously and independently to perform a task, which can otherwise be performed by a human. over the past few years, it firms are resorting to bots for a number of internal and external functions, reaching a stage where companies are now starting to report on the number of bots they have deployed. mid-tier it services firm mindtree said it had deployed 335 bots last year.“while some number of bots always existed over the past few years, this year we decided to do a census and make it public as we thought it was an appropriate time,” said rajesh kumar r, head of automation at ...






changes in law force startups to divert attention from growth, technology news,


several angel investors and startups have been critical of the ‘angel tax’, which is a tax on funds raised by startups in excess of their fair valuein the bengaluru office of financial-technology company perfios this week, former reserve bank of india deputy governor r gandhi was fielding questions from executives of about 30 fintech firms on recent regulations in the sector.a spate of regulatory and policy changes has led to a certain degree of upheaval in the startup and internet space across sectors such as fintech and e-commerce.among these: rbi requiring payment companies to store data locally and mobile wallet providers to collect detailed information on their customers (full know-your-customer), and potential regulations for the e-commerce sector from the commerce ministry and t...






rbi suggests tax sops, self-regulation to build fintech space, technology news,


from suggesting tax rebates to merchants for adopting digital payments to light-touch regulations to help fintech innovations bloom and even suggestions around formation of a self-regulatory body of fintech companies, the reserve bank of india has come up with recommendations to strengthen the fintech space.in a report on fintech and digital banking, an inter-regulatory working group under the chairmanship of rbi executive director sudarshan sen, came up with suggestions for the government and regulators to help the fintech sector grow and contribute to improve financial services.for the fintech sector, rbi has identified technology startups working in the space of peer-to-peer lending, blockchain, big data, smart contracts, robo advisors and online aggregators.highlighting how this sector






share sale in india's internet giants like flipkart, paytm to new investors prov


six months into 2017 and venture capital firms in india are already returning at least $1.2 billion in cash to their investors, or so-called limited partners, making this a highlight year in a traditionally tough market for investment exits.saif partners, tiger global management and sequoia capital india are cashing out their investments in some of india's most-valued internet companies, including flipkart and paytm, as global corporations eye a piece of the country's largest digital enterprises.venture capital firms returned about $1.65 billion to their investors in all of last year, and about $1.69 billion in 2015. but a lot of this has been on account of stock deals, and not cash returns till now.the investment exits this year are being crafted mostly through secondary share transacti..






india job market may expand 20% next fiscal, technology news, ettech


india's job market is likely to see 15-20% growth in hiring next financial year (2018-19) on improving business outlook and industry confidence supported by gdp growth, according to estimates by recruitment firms.at least half-a-dozen recruitment and staffing firms, including kelly services, teamlease services, peoplestrong, ikya human capital solutions and naukri, said they have been getting more hiring mandates than a year earlier from sectors such as consumer goods, consumer durables, ecommerce and startups, retail, pharmaceutical, bfsi, fintech, automobile, logistics and infrastructure. but demand from the it sector is still quite tepid.in sectors where there is growth, it is across junior, middle and senior management levels.last year, there had been issues such as the after-effects .






india job market may expand 20% next fiscal, technology news, ettech


at the leadership level-this includes mandates for ceo and cxo positions-too, the market is showing a pickup. india's job market is likely to see 15-20% growth in hiring next financial year (2018-19) on improving business outlook and industry confidence supported by gdp growth, according to estimates by recruitment firms. at least half-a-dozen recruitment and staffing firms, including kelly services, teamlease services, peoplestrong, ikya human capital solutions and naukri, said they have been getting more hiring mandates than a year earlier from sectors such as consumer goods, consumer durables, ecommerce and startups, retail, pharmaceutical, bfsi, fintech, automobile, logistics and infrastructure. but demand from the it sector is still quite tepid. in sectors where there is growth, it i.






how india's fintech players & banks are understanding the need for co-operation,


when it comes to the narrative that advancements in technology can overwhelm the goliaths of industry, ford motor co chairman william ford and hdfc bank managing director aditya puri have something similar to say: technology can assist industry deliver better products, but can’t replace them.indian fintech companies face something that silicon valley tech giants were staring at last year before giving up building driverless cars on their own.after nearly three hyperactive years that saw technology cheer leaders talking about the end of banks, and banks in turn terming it more noise than reason, reality is beginning to dawn on both that the truth lies somewhere in between.technology has woken up indian banking from a slumber on customer convenience, but the irony is that the confidence re..






big 4: indian audit firms perk up as pm narendra modi talks of creating desi big


mumbai: indian audit firms, losing business to the big 4 multinational professional services competitors, recently got a shot in the arm after prime minister narendra modi’s call to create four large indian accounting companies by 2022. at the foundation day of the icai (institute of chartered accountants in india) on saturday, modi said: "people talk of the big 4 accounting firms. sadly, there is no indian firm there. by 2022, let us have a big 8, where four firms are indian." indian auditors, who blame the companies law-mandated audit rotation cycle as well for the decline in their market share, say there are only 12 large indian audit firms left in the country and the government support is needed to compete against the big 4 —deloitte, pwc, e&y and kpmg. to counter the growth of t...






h1-b: new us h-1b norms won't make much difference: nasscom, technology news, et


the united states' latest move on issuing h-1b visas to software engineers will not make much difference to indian it firms, apex industry body nasscom said on friday."the new measure will be an unnecessary and expensive burden that will not make much difference to our member firms, which are in the business of providing solutions to client companies," said the national association of software and services companies (nasscom) in a statement here.in line with us president donald trump's "buy american and hire american" policy, the us citizenship and immigration services (uscis) on thursday declared that the hiring firms have to prove that their employees working at a third-party worksite have specific and non-qualifying speculative agreements in specialty occupation."the resilient in...






layoffs: job cuts at indian outsourcing firms aren't donald trump's fault. read


by andy mukherjeeindia's outsourcing firms are firing workers. don't blame it on president donald trump's hawkish stance on us visas. the "end of hyper-globalization" story makes for compelling headlines. but the indian code-writers' misfortune has more prosaic roots in technology and customer tastes. global corporations, the paymasters of indian software vendors, are no longer so keen to ante up for application development and maintenance. the flab-shedding has been in the works for five years now; it's only getting noticed in the age of trump as muted hiring gives way to firings. with the trend gathering steam, these cash-rich firms from bangalore or new delhi are bound to pique the interest of buyout firms. the indian industry is coy about the word "layoffs." that's politicall...






nasscom: india launches second it corridor in china to gain access to big chines


beijing: india on sunday launched its second it corridor in china to cash in on the burgeoning chinese software market which remained elusive despite the presence of top indian technology firms. the national association of software and services companies (nasscom) has established one more digital collaborative opportunities plaza (sidcop) platform in china in an effort to provide market access to indian it firms in the huge chinese market, the nasscom said. agreements worth rmb 36 million (about $6 million) were signed between indian service providers and chinese customers at the launch of the corridor by china's guiyang municipal government and the nasscom, a nasscom official said. the pilot projects launched on the sidcop platform would be executed over the next year, a nas...






china’s super angels go full throttle on indian startups, technology news, ettec


prominent chinese entrepreneurs who have built some of the biggest internet companies in their home country are seeking to invest in indian startups that are still at incubation stage.liang jie, cofounder of alibaba-owned ucweb browser, and tang yang, founder of microfinance startup cashbus, have already injected seed capital in three startups being incubated at new delhi-based venture gurukool. in all, 10-15 chinese entrepreneurs are scouting for early-stage investment opportunities across segments, including education technology, financial technology, social, content, and online commerce.chinese entrepreneurs “are coming on board as super angels, and the investment premise is the same — to expand their portfolio outside china, they want to come in early and back these ventures before...






managing burn rate a worry for fintech startups, technology news, ettech


“it is my firm belief that it can be the foundation to create a fintech hub in india to further galvanise creation of future skills, technology and jobs,” said rana kapoor. funding for fintech is abundant in india but managing burn rate is a concern in a country where the sector is still nascent and needs guidance, states a new study by yes bank, according to which low regulatory understanding, despite support from the government, is also a challenge.the study ‘india fintech opportunities review’ (ifor) is based on a survey of 611 fintech companies, including 123 overseas companies over 90 days between november 2017 and january 2018.in the sector which has grown from a largely digital payments business to wealth management, lending, and robotics process automation in the past few y...






due diligence in the indian startup ecosystem is undergoing a tectonic shift, te


funding for indian startups has improved remarkably this year as compared to the 18 months prior, but that doesn’t mean the money is flowing in easily. the process of due diligence by investors across stages is undergoing a tectonic shift.global risk-capital investors have begun to mandate specialised consulting firms such as analysys mason and kroll, along with kpmg, pricewaterhousecoopers, ey and deloitte — the big four advisory firms — to undertake deeper diligence before committing capital to ventures. this is to ensure greater returns on investments in a landscape that has, thus far, delivered little by way of exits.“fundamentally, corporate governance (in india) is moving in a direction where investors are asking deeper questions, some of which (are about things) not always c...






big 4: fdi norms tweak: joint audits to boost indian entities


new delhi: companies will now have to go for joint audits in case a foreign investor insists on having an international auditor, a move that will provide a fillip to indian audit entities. the government's decision is seen as a significant step towards boosting the prospects of local auditing firms amid the backdrop of big 4 audit firms holding sway, especially when it comes to companies where there is overseas investment. following extensive deliberations and an expert panel report related to audit firms, the government decided to tweak the auditing requirements with respect to companies having foreign investments. while relaxing the foreign direct investment (fdi) policy last week, the government said that there were no provisions in respect of specification of audi...






india's top vc firms try to revitalise seed stage deals in india, technology new


two years after seed-stage investments in india’s startup landscape started drying up, some of the country’s top venture capital firms are once again bidding to revitalise the space.over half a dozen investors et spoke with said top vc firms such as nexus venture partners, sequoia capital, and idg ventures india, which had started pulling back from seed deals in late 2015 when the funding crunch started, are hunting in the market again as they see an increase in entrepreneurial activity.data from venture intelligence shows that seed-stage investments by top vc firms since the start of 2017 have touched $144 million across 178 deals. of this, $31 million was invested in just the first three months of 2018.over the last few months, nexus venture partners has emerged as one of the most ac...






htc: higher retail margins by chinese firms a hurdle in bagging more market shar


htc, according to counterpoint research, had 1.3 per cent market share in india in 2016.taiwanese smartphone maker htc has said higher margins offered by the chinese rivals to retail channel network and price disparity between offline and online marketplaces are some of the biggest challenges it faces in getting a larger slice of the indian market, particularly the premium segment.“flooded with competition (chinese) products, channels require different margins and rivals offering a lot more create obviously even a tougher environment,” said chialin chang, president of htc corporation’s smartphone and connected devices business.with increasing prominence of vivo, oppo, xiaomi and gionee in the indian market, brands such as apple, samsung, htc, sony and lg, in addition to homegrown mic...






banks acquire more customers & reduces operational costs through fintech cos., t


banks are no longer fighting financial-technology startups, instead they are gaining from them in terms of acquiring more customers and reducing operational costs leading to a flurry of partnerships in recent months.rbl bank, which has partnerships with more than 90 startups, has been able to acquire 30% of its total 2.8 million customers through these tieups, said rajeev ahuja, head of strategy retail and financial inclusion at rbl bank. “we have been able to reach new customers whom we wouldn't have been able to service (otherwise), and are able to provide value-added services such as account opening and lending to them. for example, we have tied up with merchant acquirers, such as mswipe and ezetap, and we have become bankers for their merchants," he said.moneytap, a startup that ha...






payment firms wait on rbi clarity on data localisation, technology news, ettech


the reserve bank of india (rbi) is expected to clarify its stand on the data localisation mandate for payment companies – given the concerns raised by various industry groups on the issue. according to a top official source, it could either reiterate its april order maintaining that payment firms have to store data in india within six months by releasing just a faq, or it could soften its stand by allowing firms to mirror the data outside the country keeping a copy in india. “perhaps, there could be an extension of the deadline of the implementation,” said the official who did not wish to be identified. the clarification is expected anytime soon, added the person, without setting a timeline. since its notification, the banking regulator has met with multiple industry bodies, lobby gr...






sharechat valuation may hit $400 million in a new round, technology news, ettech


the three-year-old startup had raised the funds at $75 million valuation. in what will be the most hotly contested investment deal in a startup, over half a dozen top global financial and strategic investors like wechat owner tencent, south african media firm naspers, investment firms dst global, hillhouse capital and morningside ventures, us-based e-commerce giant amazon and chinese online media players toutiao and kwai, among others, are in talks to invest in regional language social platform sharechat, according to three sources familiar with the matter.the deal is expected to increase the valuation of the startup 4-5 times to $400 million in less than six months after it raised funds from chinese smartphone maker xiaomi and venture capital firm shunwei late last year, said these source






investors are pouring over nos carefully, technology news, ettech


funding for indian startups has improved remarkably this year as compared to the 18 months prior, but that doesn’t mean the money is flowing in easily. the process of due diligence by investors across stages is undergoing a tectonic shift.global risk-capital investors have begun to mandate specialised consulting firms such as analysys mason and kroll, along with kpmg, pricewaterhousecoopers, ey and deloitte — the big four advisory firms —to undertake deeper diligence before committing capital to ventures. this is to ensure greater returns on investments in a landscape that has, thus far, delivered little by way of exits.“fundamentally, corporate governance (in india) is moving in a direction where investors are asking deeper questions, some of which (are about things) not always ca...






fdi policy: big 4 audit firms face checks under liberalised fdi policy


the government has quietly slipped in a swadeshi move while liberalising the foreign direct investment (fdi) rules by mandating that overseas auditors will have to undertake joint audit if an international investor insists on audit by a global firm, or its indian affiliate. this marks a major shift in india's fdi regime, which was earlier silent on the issue and resulted in a situation where the shareholders' agreement between a foreign investor and its indian partner contained a clause specifying audit by big four firms such as kpmg, ernst & young, deloitte or pricewaterhousecoopers or indian firms that are part of their network. the clause has been inserted to prevent this kind of an arrangement and the belief is that one global firm will not agree to a joint aud...






ireland keen to woo indian startups, offers tax benefits, technology news, ettec


with quite a few nations mulling stronger immigration laws, ireland, the island in north atlantic, wants to play a different tune. the investment and development agency, (ida), wants to triple the number of startups, it services organizations, entrepreneurs from various sectors in india in the next three years to set up base in various parts of ireland.ida along with sister firms like enterprise ireland is looking forward to help indian startups and enterprise companies focusing on the european market.“we are willing to give indian companies competitive tax rates, access to funding, 48 hour registration period, easy regulatory surroundings so that we become the go to destination for companies from india,” says martin d. shanahan,ceo,ida ireland.ida ireland is engaged with organizations...






there's a new player at australia's biggest airshow: china


amid the big us and european defence giants there is a new presence at the avalon airshow: china.for the first time, chinese firms are at australia's aviation megashow - one of the world's major defence and aerospace events - in what is being seen as the first steps of an export push, and one being watched closely by security analysts. xiang meng at the australian international air show. photo: joe armaothe firms include a branch of the aviation industry corporation of china - the nation's defence and aerospace behemoth that makes most of its air force hardware - and a division of the china aerospace science and technology corporation that makes rockets to launch satellites into orbit.australia's defence department won't deal with chinese firms on anything significant. but four ...






there's a new player at australia's biggest airshow: china


amid the big us and european defence giants there is a new presence at the avalon airshow: china.for the first time, chinese firms are at australia's aviation megashow - one of the world's major defence and aerospace events - in what is being seen as the first steps of an export push, and one being watched closely by security analysts. xiang meng at the australian international air show. photo: joe armaothe firms include a branch of the aviation industry corporation of china - the nation's defence and aerospace behemoth that makes most of its air force hardware - and a division of the china aerospace science and technology corporation that makes rockets to launch satellites into orbit.australia's defence department won't deal with chinese firms on anything significant. but four ...






indian bpo firms see a marginal rise in costs if us congress clears bill, techno


india’s backoffice industry says there could be a marginal increase in costs if a proposed bill by a us senator against outsourcing call centre jobs is passed but not impact its business as the proportion of call centre work done by the country’s firms has reduced significantly.while india's backoffice industry began with call centres, over the last decade, most of the voice work has shifted to the philippines.while the country’s backoffice industry began with call centres, over the last decade, most of the voice work has shifted to the philippines with indian companies focusing on the so-called integrated service offerings — a mix of chat, email response and voice.“of the $30-billion (indian) bpo revenue, the customer interaction pie is around 30%. of this, indian companies mos...






nasscom says hr 170 bill & higher visa fees to put big indian it companies at di


fresh restrictions on work visas for technology workers proposed by the trump administration are set to further exacerbate difficulties faced by indian outsourcing companies. the proposed regulations — like the hr 170 — as well as the doubling of visa fees announced earlier, have increased the burden on local technology firms placing them at a disadvantage compared to overseas rivals, according to a software industry lobby.“the us government’s immigration policy is creating an artificial distinction between one company and another,” said r chandrashekhar, president of the national association for software and services companies. “our problem, which we have brought to their attention, is that you cannot and should not be doing things which discriminate against indian companies e...






private equity firms partner to find oil patch deals


three houston private equity firms have teamed up to comb the oil patch for small but lucrative investment deals left behind by banks and larger firms.the private equity firms announced tuesday they’ve formed an affiliate group called argus energy managers to share information with each other and the companies they buy, making it easier for dealmakers to find profitable investments in the ocean of small exploration and oil field service companies that make up much of the u.s. energy industry. it’s an unorthodox move in the typically tight-lipped financial world, but the firms hope to find deals rivals will overlook.“banks don’t want to write a check if a company is too small,” said charles cherington, managing partner of intervale capital, one of the three private equity firms th...






private equity firms partner to find oil patch deals


three houston private equity firms have teamed up to comb the oil patch for small but lucrative investment deals left behind by banks and larger firms.the private equity firms announced tuesday they’ve formed an affiliate group called argus energy managers to share information with each other and the companies they buy, making it easier for dealmakers to find profitable investments in the ocean of small exploration and oil field service companies that make up much of the u.s. energy industry. it’s an unorthodox move in the typically tight-lipped financial world, but the firms hope to find deals rivals will overlook.“banks don’t want to write a check if a company is too small,” said charles cherington, managing partner of intervale capital, one of the three private equity firms th...






chinese investment in australia surged 11.7 per cent to $15.4b last year: report


chinese investment in australia surged 11.7 per cent last year to $15.4 billion amid booming demand for agricultural assets and infrastructure, according to a report released on monday.a record 103 deals were signed with chinese companies in 2016, with 76 per cent of those reached with private firms, kpmg and the university of sydney said in the report demystifying chinese investment in australia.eu adopts tough stance on brexitvideo duration01:54previous slidenext slidevideo duration00:55chinese push for investment consistencychinese push for investment consistencypresident xi jinping has pressed malcolm turnbull on australia's foreign investment policy during bilateral talks in hangzhou. courtesy abc news 24.eu adopts tough stance on brexitvideo duration01:54video duration01:54eu adopts.






indian tech companies weigh eb-5 visa to enter the united states, technology new


indian technology companies seeking to mitigate the legislative headwinds around the h-1b work visa to the us are being presented with an alternative — an exorbitant and high-risk visa programme designed to attract investments and create jobs.american immigration consultants are pitching the eb-5 visa to indian companies including tata consultancy services, infosys, and wipro as well as smaller firms seeking to move top executives to the us.the eb-5 visa is an immigrant programme that offers permanent residency for foreigners who invest at least $500,000 (about rs 3 crore) in projects that will generate at least 10 full-time jobs in the us.the consultants, or so-called eb-5 regional centres, are encouraging indian technology companies to sponsor select employees for the visa given the un..






how cisco, google benefit from indian firms' use of h-1b program, technology new


by joshua brusteincisco systems applied for about 3,000 h-1b visas in fiscal 2016, intending to hire people to work at its sprawling, utilitarian campus in suburban san jose.these were good jobs — many of them for management-level logisticians and operations research analysts — and they paid well. the average annual salary was about $120,000. at the upper end, the company planned to pay a “senior corporate strategy director” $197,000 a year.but these applications don’t tell the whole story of how cisco planned to use the controversial visa program to supplement its workforce. the visa requests it submitted accounted for only 40% of the applications from 2016 for temporary visas for jobs to be located at its headquarters.the rest were submitted by it firms, mostly from india, seek...






north korea sanctions-skirting network could be defeated by targeting china firm


by: reuters | washington | published:june 13, 2017 8:54 am the report says a disproportionate amount of the total trade with north korea was conducted by an even smaller number of trading firms, with 10 chinese importers of north korean goods in 2016 accounting for 30 percent of the market. (source: reuters)north korea’s effort to circumvent international sanctions on its nuclear and missile programs is complex but could be defeated by targeting relatively few chinese firms, a report said on monday. the washington-based c4ads think tank said a small number of interconnected chinese firms accounted for the vast proportion of trade with north korea, leaving the impoverished country’s procurement network vulnerable to targeted, enforced sanctions.the report said it was a mistake to t...