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Russian Cybersecurity Company to Set Up HQ in Singapore

Russian Cybersecurity Company to Set Up HQ in Singapore

A Russian cybersecurity company called Group IB recently announced that it will be setting up its global headquarters in Singapore next year as part of its international expansion efforts. CEO Ilya Sachkov said that the company’s business is doing well in Asia which is why it will be establishing its international headquarters in the region’s top financial center. Additionally, he revealed that Singapore was one of the first that bought their products and Interpol’s cyber-crime division, which the company works closely with, is also headquartered in the country. Sachkov also said that the company was able to maintain a level […]

Facebook Drops Policy of Mandatory Arbitration for Sexual Harassment Complaints

Facebook Drops Policy of Mandatory Arbitration for Sexual Harassment Complaints

Facebook said last week that it has ended its policy of requiring employees to undergo private arbitration when settling sexual harassment claims. According to a report by the Wall Street Journal, employees will now be able to take such incidents to court. The company followed a number of other tech giants including Microsoft, Uber, and Google in making a similar policy change. Facebook also reportedly changed a policy on office dating which will now require director-level employees and higher to disclose if they are dating a co-worker.   Source: CNBC

France to Use Social Media Against Tax Evaders

France to Use Social Media Against Tax Evaders

French Budget Minister Gerald Darmanin said this week that their tax administrators will now be hunting for tax cheats on social media in a pilot program which will begin in early 2019. Darmanin said that they will try to identify potential frauds by analyzing public data on social media accounts. For example, people that have lots of posts with luxury cars but do not have the means to own one may be looked into, the budget minister said. The measure is part of a law the country enacted last October which seeks to give the authorities’ more power to fight […]

Germany to Push for Binding Deal on Digital Taxation at EU December Meeting

Germany to Push for Binding Deal on Digital Taxation at EU December Meeting

German Finance Minister Olaf Scholz said this week that is backing France’s proposal and would like to get a binding deal on an EU digital tax at a meeting of finance ministers this December. It is said that European Union member states are disagreeing over a proposed EU plan to tax tech giants such as Google and Facebook on their turnover. Last March, the EU’s executive Commission proposed that member states charge 3 percent on the digital revenues of such firms which have been accused of routing profits to low tax states such as Ireland. However, the proposal would need […]

Southeast Asian E-Commerce Rapidly Accelerating, Lazada CEO Says

Southeast Asian E-Commerce Rapidly Accelerating, Lazada CEO Says

Alexis Lanternier, CEO Lazada Singapore, recently said that the region is still “at the beginning of its journey” in terms of ecommerce growth. The Alibaba-backed Southeast Asian online shopping giant says that it saw three times more shopper traffic this year compared to last year for its own version of Single’s Day which it kicked off last week. Gross merchandise value also reportedly went up as much as seven times at midnight compared to the previous year.   Lanternier said that he is seeing huge potential for sales in the region, which is home to a population of 560 million […]

France to Support Lower Taxes on Bitcoin Profits

France to Support Lower Taxes on Bitcoin Profits

France’s finance commission in the lower house of parliament agreed to ease taxation on Bitcoin sales, in line with other capital gains. Currently, Bitcoin profits are taxed at 36.2 percent, compared to other capital gains on non-real estate assets that are taxed at 30 percent. However, the amendment, which also includes a flat rate of 30 percent on Bitcoin sales, must still be approved in the final version of the budget bill by the broader parliament. Source: Reuters

New ICO Report Shows How Facebook is Exploited by Political Parties

New ICO Report Shows How Facebook is Exploited by Political Parties

The UK’s Information Commissioner’s Office released last Tuesday a 112-page report on its investigation into how political organizations abuse personal data and Facebook to target voters. The ICO said it found that political campaigns had been buying marketing lists and other consumer lifestyle data from data brokers “without sufficient due diligence” and with few protections for consumers. Additionally, it uncovered 172 organizations involved in data trading, 30 of which were the main focus of this report. The ICO also seized 85 pieces of equipment, including servers, 22 documents and 700 terabytes of data. Source: CNET

EU Antitrust Chief Confirm Wrap Up of Google Adsense Case

EU Antitrust Chief Confirm Wrap Up of Google Adsense Case

EU antitrust head Margrethe Vestager confirmed this week that EU regulators are about to complete their third case against the parent company of Google, Alphabet in which the search giant may incur another hefty fine. The EU opened a third case against Google in 2016, accusing the company of preventing third-parties from using AdSense from displaying search ads from its competitors. It was noted that Vestager has the power to fine Google up to 10 percent of its global turnover for violation of EU rules. Source: Reuters

Self-Driving Car Industry Need Rules and Security, Auto Execs Say

Self-Driving Car Industry Need Rules and Security, Auto Execs Say

Top European car executives said this week that the autonomous car industry need standards for key equipment, a wide-reaching 5G broadband network, and strong partnerships to be successful.   The chief executive of Britain’s Jaguar Land Rover, Ralf Speth, said that the sector needs clear and unified guidelines on user data privacy. Speth also called on the industry to forge partnerships as technological challenges such as connectivity and autonomous driving cannot be tackled by one company alone. Source: Reuters

5G to Eliminate Need for Fixed Line Home Broadband Connection

5G to Eliminate Need for Fixed Line Home Broadband Connection

Three, a company that will be launching 5G services in the UK, says that the new mobile internet technology could soon replace fixed-line copper and fiber services. In theory, 5G download speeds can reach up to 10 to 20 Gbps, possibly in a few years, but current handsets are not even able to utilize 4G speeds to the fullest. Three UK chief exec David Dyson says that they will be able to offer 5G services which can be as good as a home broadband to a major portion of the UK around next year. He adds that 5G can also […]