Category: oxfmctnrr

Warren Buffett is selling gold. Should I do the same?

first_img Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. The sheen is coming off gold. Even though the yellow metal is still up by over 27% from last year, it’s down from last month. I think the ‘why’ of it is straightforward right now — gold is a hedge. As investor optimism about the future grows, the race towards safer assets like precious metals slows down. The fact that the Oracle of Omaha, Warren Buffett, has sold part of his gold investments recently only indicates further that the best of times for gold may be behind us. At least for the time being.What Warren Buffett didInvestors around the world seek to emulate Buffett’s investing style. If Berkshire Hathaway, of which he is chairman and CEO, sells gold, many would think twice before buying it. And when the company cuts its stake in Barrick Gold by 40% after less than even one year of owning it, I reckon it’s even more notable. Buffett is known for long-term stock holdings and this is in stark contrast to what’s come to be expected. This is especially so when Barrick Gold has seen robust performance.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Why he sold goldWhen Buffett sold airlines’ stocks earlier this year, he was pessimistic about the sector’s future. This led to a massive sell-off of the company’s holdings across big US-based airlines. There might be another explanation for this entirely, but if I think about this latest stock sale on similar lines, it can be speculated that he doesn’t expect the future of gold to be as bright as 2020 has been for it either. The Covid-19 vaccine expectation has definitely dented the outlook for gold. But even before that, the economy was already getting back on its feet, albeit in fits and starts. China, more than any other economy, is well on its way to recovery. It’s one of the largest country economies, whose growth is already increasing demand for products from industrial metals to luxury goods. The US, too, is expected to show healthy growth in 2021, which can further dent gold price. Should I sell gold now?When I think of my own portfolio from this perspective, it looks like a good idea to book some profits while gold prices are still high. At the same time, I always like to hold some gold, preferably in the form of exchange-traded funds (ETFs), but only because I always like to have a few safe investments in case everything else falls to pieces. In other words, like Buffett, it’s a good idea to sell some and hold some. I think there are plenty of FTSE 100 stocks I’d buy today from the funds freed up by selling gold. That’s because their share prices are still low and their prospects just improved. Unlike Buffett, I’d consider airlines, for instance, even if he does lead the way on gold.   Enter Your Email Address Markets around the world are reeling from the coronavirus pandemic…And with so many great companies trading at what look to be ‘discount-bin’ prices, now could be the time for savvy investors to snap up some potential bargains.But whether you’re a newbie investor or a seasoned pro, deciding which stocks to add to your shopping list can be daunting prospect during such unprecedented times.Fortunately, The Motley Fool is here to help: our UK Chief Investment Officer and his analyst team have short-listed five companies that they believe STILL boast significant long-term growth prospects despite the global lock-down…You see, here at The Motley Fool we don’t believe “over-trading” is the right path to financial freedom in retirement; instead, we advocate buying and holding (for AT LEAST three to five years) 15 or more quality companies, with shareholder-focused management teams at the helm.That’s why we’re sharing the names of all five of these companies in a special investing report that you can download today for FREE. If you’re 50 or over, we believe these stocks could be a great fit for any well-diversified portfolio, and that you can consider building a position in all five right away. Image source: The Motley Fool Our 6 ‘Best Buys Now’ Shares Warren Buffett is selling gold. Should I do the same?center_img Click here to claim your free copy of this special investing report now! 5 Stocks For Trying To Build Wealth After 50 Simply click below to discover how you can take advantage of this. Manika Premsingh has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Manika Premsingh | Saturday, 21st November, 2020 See all posts by Manika Premsinghlast_img read more

On This Day: Smithsonian Institution created

first_img UF/IFAS in Apopka will temporarily house District staff; saves almost $400,000 Save my name, email, and website in this browser for the next time I comment. Share on Facebook Tweet on Twitter TAGSSmithsonian InstitutionThe HIstory Channel Previous articleMoore leads latest fundraising report in District 7 raceNext articleOCPS Board Chair announces District 7 endorsement Denise Connell RELATED ARTICLESMORE FROM AUTHOR On This Day in History, August 10th, 1846  After a decade of debate about how best to spend a bequest left to America from an obscure English scientist, President James K. Polk signs the Smithsonian Institution Act into law.In 1829, James Smithson died in Italy, leaving behind a will with a peculiar footnote. In the event that his only nephew died without any heirs, Smithson decreed that the whole of his estate would go to “the United States of America, to found at Washington, under the name of the Smithsonian Institution, an Establishment for the increase and diffusion of knowledge.” Smithson’s curious bequest to a country that he had never visited aroused significant attention on both sides of the Atlantic.James SmithsonSmithson had been a fellow of the venerable Royal Society of London from the age of 22, publishing numerous scientific papers on mineral composition, geology, and chemistry. In 1802, he overturned popular scientific opinion by proving that zinc carbonates were true carbonate minerals, and one type of zinc carbonate was later named smithsonite in his honor.Six years after his death, his nephew, Henry James Hungerford, indeed died without children, and on July 1, 1836, the U.S. Congress authorized acceptance of Smithson’s gift. President Andrew Jackson sent diplomat Richard Rush to England to negotiate for transfer of the funds, and two years later Rush set sail for home with 11 boxes containing a total of 104,960 gold sovereigns, 8 shillings, and 7 pence, as well as Smithson’s mineral collection, library, scientific notes, and personal effects. After the gold was melted down, it amounted to a fortune worth well over $500,000. After considering a series of recommendations, including the creation of a national university, a public library, or an astronomical observatory, Congress agreed that the bequest would support the creation of a museum, a library, and a program of research, publication, and collection in the sciences, arts, and history. On August 10, 1846, the act establishing the Smithsonian Institution was signed into law by President James K. Polk.Today, the Smithsonian is composed of 19 museums and galleries including the recently announced National Museum of African American History and Culture,nine research facilities throughout the United States and the world, and the national zoo. Besides the original Smithsonian Institution Building, popularly known as the “Castle,” visitors to Washington, D.C., tour the National Museum of Natural History, which houses the natural science collections, the National Zoological Park, and the National Portrait Gallery. The National Museum of American History houses the original Star-Spangled Banner and other artifacts of U.S. history. The National Air and Space Museum has the distinction of being the most visited museum in the world, exhibiting such marvels of aviation and space history as the Wright brothers’ plane and Freedom 7, the space capsule that took the first American into space. John Smithson, the Smithsonian Institution’s great benefactor, is interred in a tomb in the Smithsonian Building.For more information on this day in history, go here. You have entered an incorrect email address! Please enter your email address here LEAVE A REPLY Cancel reply Please enter your comment! Gov. DeSantis says new moment-of-silence law in public schools protects religious freedom Please enter your name here Florida gas prices jump 12 cents; most expensive since 2014 last_img read more

Tick tock… time is flying by

first_img Free webinar for job seekers on best interview answers, hosted by Goodwill June 11 LEAVE A REPLY Cancel reply The Anatomy of Fear Share on Facebook Tweet on Twitter InspirationBy Mike GillandI remember hearing my dad say, “Boy, once you hit 30, the years seem to fly by…”  I am not sure just how old I was when he said that, but I was probably 7 or 8, making my dad about 35.  Of course, at the time, I couldn’t relate to that at all. My days seemed very long. And the wait for school to be over?….an eternity.  Then, there was the never-ending anticipation for Christmas to come. Yeah, I couldn’t relate to my dad’s thoughts at all. That was then.Now, a most unusual thing is happening.  Young people are making the same remarks as my dad made all those years ago!  And – they are young…very young!  I have a few thoughts about the reason for this phenomenon.  I suspect that the sheer amount of visual stimulation that hits today’s young people on an hourly basis can be downright overwhelming.  There is no shortage in ways for our youth to spend their hours, their days, their weeks… making it seem to them that there is just not enough time in a day to get in all the video streaming, social media, TV, movies, etc.  The end result – kids are now saying what only adults once uttered. “Time is flying by…”Now, just so you know, I am all for all of the things mentioned.  But I do caution parents to make sure that your children haven’t jumped on the train to exhaustion!  A new common site is to see a group of people sitting in a church lobby, or at the airport, or in the living room at Christmas, with each person’s head bowed as they are texting or looking at a phone or tablet.  I am pretty sure that it is possible that all of these neat, time-saving and entertaining devices are bringing fatigue to our minds, and causing a new sense of isolation. And wherever there is isolation, loneliness is not far behind.We can fight this by having a good, old-fashioned hobby, doing something with others that you enjoy – without the interruption of cell phones or tablets.  Breathe – enjoy life – make a memory…and you might just sense a bit of slowdown in your life!Feature Photo by Jon Tyson on Unsplash Mike Gilland is Operations Manager for The Shepherd Radio Network, a group of radio stations in Florida that features the “Christian Teach/Talk” format.  Mike hosts a daily talk radio show in the 2 PM hour called “Afternoons with Mike”, talking to local pastors and newsmakers.  In Orlando, The Shepherd is heard on WIWA, AM 1270.   In addition to his broadcast experience, Mike spent 36 years in full-time ministry as a pastor and worship leader.  As a guitarist, Mike performs at concerts, restaurants, private parties, etc. He is married to Cindy, the father of four grown children and grandfather to seven grandchildren. Support conservation and fish with NEW Florida specialty license plate TAGSInspirationMike GillandThe Shepherd Radio Network Previous articleLawyers are trying to scare you with Facebook adsNext articleMy continuing odyssey to good health Denise Connell RELATED ARTICLESMORE FROM AUTHOR Please enter your comment! Please enter your name here You have entered an incorrect email address! Please enter your email address here Save my name, email, and website in this browser for the next time I comment.last_img read more

Olival Street House / ARX Portugal

first_imgPhotographs:  Fernando Guerra | FG+SG Portugal Houses José Mateus, Nuno Mateus ArchDaily ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/950980/olival-street-house-arx-portugal Clipboard Save this picture!© Fernando Guerra | FG+SG+ 27Curated by Matheus Pereira Share Year:  CopyAbout this officeARX PORTUGALOfficeFollowProductsGlassStoneConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesRefurbishmentRenovationInterior DesignResidential InteriorsHouse InteriorsLisbonPortugalPublished on November 09, 2020Cite: “Olival Street House / ARX Portugal” [Casa Rua do Olival / ARX Portugal] 09 Nov 2020. ArchDaily. Accessed 10 Jun 2021. ISSN 0719-8884Browse the CatalogSinkshansgroheBathroom Mixers – LogisVinyl Walls3MExterior Vinyl Finish – DI-NOC™ StonePartitionsSkyfoldWhere to Increase Flexibility in SchoolsTiles / Mosaic / GresiteCupa PizarrasVentilated Facade – CUPACLAD UprightGlassLAMILUXGlass Roof PR60ConcreteKrytonCrystalline Waterproofing – KIMSkylightsVELUX CommercialAtrium Longlight Skylights in ExperimentariumMetal PanelsLorin IndustriesAnodized Aluminum – Copper FinishesStonesFranken-SchotterWall Covering & CladdingWindowsRabel Aluminium SystemsMinimal Casement Windows – Rabel 8400 Slim Super Thermal PlusSwingsStudio StirlingHanging Chair – BasketWallcovering / CladdingArrigoni WoodsWood Cladding – AcousticMore products »Save世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/950980/olival-street-house-arx-portugal Clipboard Lead Architects: Area:  423 m² Year Completion year of this architecture project center_img Olival Street House / ARX Portugal 2016 Olival Street House / ARX PortugalSave this projectSaveOlival Street House / ARX Portugal Collaborators:Ricardo GuerreiroStructural Engineering:Quadrante – Engenharia e ConsultoriaBuilder:X-LOG-Construção Lda.City:LisboaCountry:PortugalMore SpecsLess SpecsSave this picture!© Fernando Guerra | FG+SGRecommended ProductsLightsVibiaCeiling Lights – BIGMetallicsKriskadecorMetal Fabric – Outdoor CladdingWindowsJansenWindows – Janisol PrimoWoodParklex International S.L.Wood cladding – FacadeText description provided by the architects. The project states the profound reformulation of a building of 4 apartments located on Rua do Olival, in Lisbon, transforming it into a single-family house. From the pre-existence, due to the imposition of the council, the main façade was maintained, with the rest of the building being entirely new. It was thus decided to take advantage of the juxtaposition of two different times, apparent in the original architecture present on the facade and that of a new interior that is admittedly contemporary, establishing a different dialogue between these two moments, expressive both inside and outside.Save this picture!© Fernando Guerra | FG+SGSave this picture!Ground Floor PlanSave this picture!© Fernando Guerra | FG+SGIn terms of façade, this dialogue is evidenced by the hidden placement of the new single-glazed frames which, when drawn back to the interior face of the wall, produce deep, contemporary spans, but which underline the great thickness of the original walls. On the posterior façade, the language is admittedly contemporary, consisting of large glazing that underline the visual relationship with the garden patio. Save this picture!© Fernando Guerra | FG+SGSave this picture!© Fernando Guerra | FG+SGInside, the interior spatial structure results from the interpretation of the housing program, with the lower floors having social areas, with extension to the garden, and the private areas on the upper floors, with visual threading to the Tagus River. In terms of design concept, a kind of central volume in plywood organizes vertical communications, accommodates cabinets and bathrooms and defines the limits of the main spaces organized along the two opposite facades.Save this picture!© Fernando Guerra | FG+SGIf the dialogue between different times manifests itself mainly in the resolution of the gaps between the dimensions of the spans of the facade and the floors, generating singular situations, in tectonic terms an informal contemporaneity is affirmed, either through the exposed concrete ceilings of singular texture granted by formwork on OSB panels or sanded concrete floors.Save this picture!© Fernando Guerra | FG+SGProject gallerySee allShow lessCDK GLOBAL Offices / modulusSelected ProjectsHouse T / LANZA AtelierSelected Projects Share “COPY” Projects Photographs CopyHouses, Renovation, House Interiors•Lisboa, Portugal “COPY” Architects: ARX PORTUGAL Area Area of this architecture projectlast_img read more

Don’t Read the Headline

first_img By Gary Truitt – Oct 28, 2015 Facebook Twitter Don’t Read the Headline SHARE Facebook Twitter The headlines scream  “Industry Slams Report of Human DNA in Hotdogs” Most people don’t bother to read the story and just make up all kinds of things in their head and then repeat them.A report by Clear Labs claims human DNA has been found in two percent of hot dogs. The California-based company report is described as an “online food guide for consumers.”The National Hot Dog and Sausage Council told Meatingplace “as we all see when we watch CSI, DNA can be everywhere. It’s easy to leave a human trail behind. Yet, of all the samples tested, only one meat hot dog showed any evidence of human DNA and that was at the cellular level.” The Hot Dog and Sausage Council criticized the company for providing what limited information on its methodology.In case you missed that line let me repeat itOnly one meat hot dog showed any evidence of human DNA and that was at the cellular level. Home News Feed Don’t Read the Headline SHARE Previous articleClosing CommentsNext articleHouse Votes to Delay Positive Train Control Gary Truittlast_img read more

Major investment needed to unlock Lough Gur’s potential

first_imgHeritage Minister Josepha Madigan with Rose Cleary and Kate Harroldat the Lough Gur Heritage Centre.Photo: Keith WisemanLOUGH Gur Development has called for substantial investment and support to further progress and unlock the potential of the County Limerick tourist attraction.Development Group chairperson Aine Barry stated that a community group could no longer be expected to run a visitor attraction of global importance without significant investment and support to improve what was on offer and meet the needs of local, national and international visitors.Sign up for the weekly Limerick Post newsletter Sign Up Ms Barry made it clear that “the community development group have achieved a great deal including a half a million refurbishment of the visitor centre, growing visitor numbers from 2,000 to 45,000 and have now reached a critical point.“If further support is not forthcoming the group will need to revaluate how they operate. As a voluntary not for profit organisation Lough Gur Development cannot deliver the amenities and facilities required to further improve the area and improve economic growth for the surrounding areas,” she declared.Manager of Lough Gur Heritage Centre, Kate Harrold, reiterated this sentiment.“The organisation has proven that they can expertly execute projects and manage effectively, however to move to the next level the group require input from the government bodies responsible for Lough Gur including the Office of Public Works, Department of the Environment and Limerick City and County Council.“The community group are best placed to operate the facility and now need the opportunity to do so with increased subventions in place,” Ms Harrold declared.At the recent launch of ‘The Archaeology of Lough Gur’ by Rose Cleary, Culture and Heritage Minister Josepha Madigan spoke of the relevance of Lough Gur to Ireland and said she looked forward to enhancing her department’s relationship with Lough Gur into the future. Twitter Vicky calls for right to die with dignity Limerick on Covid watch list Linkedin WhatsApp TAGSheritagehisotryLimerick CountyNewstourism Facebook Shannon Airport braced for a devastating blow Emailcenter_img RELATED ARTICLESMORE FROM AUTHOR Advertisement Local backlash over Aer Lingus threat Previous articleLimerick City Museum makes its own piece of historyNext articleLimerick rapper Hazey features on Somewhere in Ireland video series Alan Jacqueshttp://www.limerickpost.ie Population of Mid West region increased by more than 3,000 in past year Print Unstoppable Sean shows that all things are possible NewsHeritageMajor investment needed to unlock Lough Gur’s potentialBy Alan Jacques – January 9, 2019 1165 last_img read more

Fallen Hero Exhibit and Program

first_imgLocal News Photos from Fallen Hero Exhibit and Program Saturday at Music City Mall.  The wall is on display from 1 p.m. to 9 p.m. The exhibit honors West Texas Heroes from Iraq, Desert Storm and the Middle East Crisis. Facebook Facebook Twitter TAGS  Pinterest WhatsAppcenter_img Fallen Hero Exhibit and Program WhatsApp Twitter By Digital AIM Web Support – February 24, 2021 Pinterest Previous articleoat052219 Antonio Branco.jpgNext articleMATTER OF RECORD: Aprill 25 through May 7 Digital AIM Web Supportlast_img read more

Supply Concerns Add to Inventory Woes

first_img The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago A full year into the pandemic, and the housing market, while flourishing in some areas, has found its inventory having dropped 32.5% from March 2020 year-over-year. These findings come courtesy of HouseCanary’s “One Year Later: Understanding COVID-19’s Impact on the U.S. Housing Market” report, detailing a full-year impact of the pandemic on the nation’s housing market.The drop in housing supply from March 2020 to March 2021 was partially the result of the rising costs of supplies, such as lumber, which have been hard to come by during the pandemic due to global supply chain issues. The National Association of Home Builders (NAHB) recently reported that the price of lumber has tripled over the past year, forcing the price of a new single-family home to rise $35,872 on average.And with the dip in inventory, the number of listings under contract rose 4.6% during the first year of the pandemic, outpacing 2019’s figures. This spike in demand occurred as mortgage rates sat near historic lows, government relief arrived and millions of Americans yearned for more space in the new work-from-home environment.“Although most crises tend to trigger a surge in listings for sale and downward pressure on prices, the past year saw many homeowners sit on their equity, while eager homebuyers bid up the market,” said Chris Stroud, Co-Founder and Chief of Research for HouseCanary.Brittany Murphy, Principal Data Scientist for HouseCanary added, “Our analysis suggests that increased household formation in suburban areas and more work-from-home opportunities may perpetuate this supply-demand discrepancy for the foreseeable future.”The study also found that homes spent a median of 12 fewer days on the market, compared to the same period the year prior, due to an increasing number of buyers chasing an ever-shrinking set of available inventory throughout 2020. The median listing price increased by 15.0%, while the median closing price jumped 18.7% from March 2020 to March 2021. During the same period, the median listing price per square foot increased by 19.0%, with the median closing price per square foot rising 17.5%.Click here to view HouseCanary’s “One Year Later: Understanding COVID-19’s Impact on the U.S. Housing Market” report. Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com. Related Articles Brittany Murphy Chris Stroud COVID-19 HouseCanary National Association of Home Builders (NAHB) 2021-05-06 Eric C. Peck Home / Daily Dose / Supply Concerns Add to Inventory Woes Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Previous: How Parents Feel About the Homes They Lead Next: FHFA Seeks Input on Short-Term Rentals Subscribe Supply Concerns Add to Inventory Woes  Print This Postcenter_img The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Journal, News About Author: Eric C. Peck Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Brittany Murphy Chris Stroud COVID-19 HouseCanary National Association of Home Builders (NAHB) 24 days ago 3,127 Views Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Petitioner Cites Pegasus Issue In Supreme Court To Argue Against Allowing WhatsApp Payment Services

first_imgTop StoriesPetitioner Cites Pegasus Issue In Supreme Court To Argue Against Allowing WhatsApp Payment Services LIVELAW NEWS NETWORK14 Dec 2020 2:12 AMShare This – xThe controversy regarding snooping of WhatsApp users using Israeli spy software ‘Pegasus’ found a mention in the Supreme Court on Wednesday.The ‘Pegasus-Whatsapp’ issue was referred to by Senior Advocate Krishnan Venugopal to argue that the system of WhatsApp was not secure and reliable so as to allow it to launch payment services.Venugopal was appearing for Binoy Viswam, Rajya Sabha MP…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe controversy regarding snooping of WhatsApp users using Israeli spy software ‘Pegasus’ found a mention in the Supreme Court on Wednesday.The ‘Pegasus-Whatsapp’ issue was referred to by Senior Advocate Krishnan Venugopal to argue that the system of WhatsApp was not secure and reliable so as to allow it to launch payment services.Venugopal was appearing for Binoy Viswam, Rajya Sabha MP belonging to Communist Party of India(CPI), who has filed a writ petition in the Supreme Court seeking to direct the Reserve Bank of Inda(RBI) and the National Payments Corporation of India(NPCI) to ensure date protection of various Unified Payments Interface (UPI) platforms.Referring to Venugopal’s submission, the Chief Justice of India told Senior Advocate Kapil Sibal, the counsel of WhatsApp : “Mr. Krishnan Venugopal has made a serious allegation that your system (WhatsApp) can be hacked by something called ‘Pegasus'”.Sibal vehemently denied the allegation as “absolutely baseless”. He submitted that such an allegation was not there in the writ petition and that the same was a baseless oral submission made across the bar.Venugopal retorted by saying that the Pegasus issue has been covered by several newspapers.CJI then told Venugopal that the submission should be made on affidavit. In response, Venugopal asserted that the submission is there on the affidavit.The petition refers to the Pegasus controversy in paragraph 22 as follows :”…after the acquisition of Whatsapp by Facebook in 2014, Whatsapp has also suffered from and been accused of several privacy and security breaches as well. The biggest breach among those was the hacking of the devices and accounts of several Indians by the software named “Pegasus” developed by Israeli organization NSO. The spyware was activated on an individual’s device by merely a missed voice call on the application, which highlights the vulnerability of respondent no.7’s (Whatsapp) platform”The Pegasus issue came to light last year after Whatsapp filed a suit in the US against the Israeli company alleging that it hacked the Whatsapp servers to install malwares on the accounts of nearly 1400 users for conducting surveillance.The issue found echoes in India as the list of targeted individuals allegedly contained several prominent activists, journalist, lawyers and academicians who have voiced dissent against the Indian government.When the subject was raised in the Rajya Sabha last year, the Union IT Minister Ravi Shankar Prasad refused to give a direct answer to the query whether the Indian Government hired the services of Pegasus to snoop on individuals.The Minister said “no unauthorized interception has been done, to the best of my knowledge”.Whatsapp Spyware : Union IT Minister Evades Question In Rajya Sabha On Whether Govt Sought Pegasus ServicesMajor issues with UPI platforms, petitioner submits in SCThe PIL filed by the CPI MP through Advocate Sriram Parakkat seeks for “the protection of fundamental right to privacy of millions of Indian citizens who are using Unified Payments Interface (UPI)”.Krishnan Venugopal, appearing for Binoy Viswam, submitted that there are three or four major issues with the UPI systems of Amazon, Google, Facebook and Whatsapp.As far as Whatsapp is concerned, there is no system for ‘two-factor authentication’, he said. Whatsapp is using the same platform of the messenger service to allow payments. Another issue raised by the counsel was “data localization”. According to him, the problem with Whatsapp, Amazon & Google was that when they allow payment to happen, data goes abroad. He submitted that the RBI has to respond on whether it is proper for the data of Indians to go abroad without any formal protection.He further submitted that critical financial data is being allowed by the RBI to be accessed by companies abroad without any regulations or guidelines. This is violation of Privacy judgment as a citizen’s data is being grossly misused by these companies which use the aggregated data for their revenue generation through advertisements and promotions.Venugopal argued that  the data is being shared with the parent companies in violation of the NPCI guidelines. The data is being processed by the infrastructure of the parent company.The bench, also comprising Justices AS Bopanna and V Ramasubramanian, asked the National Payments Corporation of India(NPCI) to reply to the petition and adjourned the hearing till the last week of January 2021.The petition submits that RBI and NPCI “have permitted the three members of ‘Big Four Tech Giants’ i.e. Amazon, Google and Facebook/WhatsApp (Beta phase) to participate in the UPI ecosystem without much scrutiny and inspite of blatant violations of UPI guidelines and RBI Regulations”.This conduct of the two authorities, submits the plea, invariably puts the sensitive financial data of Indian users at huge risk, especially in light of the fact that the Big Four Tech Giants have been “continuously accused of abusing dominance, and compromising data, among other things”. There is also a reference to the fact that CEOs of these entities had been directed to testify in a hearing before the Judiciary Committee of US Congress.”Although these entities are based in United States and take Indian data abroad, however, in absence of any strong scrutiny and responsibility the data shared on their platform is at very high risk of being misused. Moreover, these entities in the past have not only been blamed for misusing the data of its users, but has also been accused of reneging the promises made to the law makers and regulators”.However, it is stated in the plea, instead of actively looking into the allegations, RBI and NPCI have turned a blind eye and have permitted their operation on UPI platforms. Referring to an April 2018 circular issued by RBI directing all system providers to ensure data relating to payment systems operated by them to be stored in India, the plea submits that system providers, especially WhatsApp and Google Pay, have failed to follow the deadline of October 2018.RBI, however, in complete disregard of the financial data of users, toned down the Circular in an FAQ and clarified that in cases of Data Processing done abroad, the data should be deleted from the systems and brought back to India within 24 hours. The plea submits that the FAQ was illegal and ultra vires the Circular issued, and prays for the same to be declared so.The plea goes on to state that the entities have failed to comply with even the diluted data localization norms and, that RBI and NCPI have failed to take any action against them, thereby “jeopardizing the security of payments data of Indian citizens”.Positing that these entities already have access to immense personal data of millions of Indian users, “if they are permitted to collect unrestricted financial data of Indian users while operating at the UPI platform, the same will give them draconian control over sensitive India data”.”Further, in absence of any compelling state regulation, accumulation of such kind of data at such a large scale is also violative of Article 14 of the Constitution of India. Thus, the continuation of Amazon Pay, Google Pay and WhatsApp Pay, without proper safeguards ensuring that no data accessed by these entities through its payment services would be transferred outside India, stored indefinitely and shared with parent companies, would be against national interest”.In light of the above, the plea prays for directions to RBI and NPCI to ensure that WhatsApp Pay is not permitted to launch full-scale operations without fulfilling all legal compliances to the satisfaction of the Supreme Court.It further prays for RBI to frame necessary regulations in an order to ensure that the data collection on UPI Platform is not exploited/used by the participants in any manner other than for processing of payments, and to ensure that the data collected by WhatsApp Pay, Google Pay and Amazon Pay is not shared with their parent company or any other third party.In an affidavit filed  in a related case, the RBI has told the Supreme Court that it has not granted permission to Whatsapp to go live for full-scale operations on Unified Payments Interface (UPI) system.The RBI further told that it “concerned that WhatsApp was storing some payment data elements outside India beyond the permitted timelines indicated in the circular and the Frequently Asked Questions on ‘Storage of Payment System Data’ issued by RBI on June 26, 2019” thereby stating that it was not to go live until all norms were met by the company.No Permission Granted To Whatsapp For Full Scale Operations On UPI System : RBI Tells SC [Read Reply]Last week, the Delhi High Court sought the responses of RBI and NPCI on a petition seeking regulation of UPI platforms. Next Storylast_img read more

Business Matters Ep 31 – Tom Murray

first_img Derry draw with Pats: Higgins & Thomson Reaction Google+ Harps come back to win in Waterford Pinterest Previous articleJim Ferry brings High Court action against two waste companiesNext articleNational St. Patrick’s Festival programme unveiled admin AudioBusinessMattersHomepage BannerNewsPlayback FT Report: Derry City 2 St Pats 2 News, Sport and Obituaries on Monday May 24th Twitter Business Matters Presenter Ciaran O’DonnellOn this week’s Business Matters Podcast, Ciaran O’Donnell talks to well-known pharmacist, Tom Murray, who opened his first pharmacy in Ramelton in 2001. He has since opened chemists in Castlefinn and Convoy.Born in Coventry, Tom moved to Ireland in the nineties and worked as a manager with the Lloyds and Boots companies before becoming a community pharmacist which had always been his ambition.Tom is a member of the Pharmacy Contractors Committee IPU and heads up the Donegal branch of Border Communities Against Brexit.Audio Playerhttps://www.highlandradio.com/wp-content/uploads/2021/02/Business-Matters-16th-feb.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Business Matters Ep 31 – Tom Murray Google+center_img DL Debate – 24/05/21 WhatsApp Twitter RELATED ARTICLESMORE FROM AUTHOR By admin – February 17, 2021 Facebook Pinterest WhatsApp Facebook Journey home will be easier – Paul Hegarty last_img read more