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finances

Challenges Persist in Tax Reform Discussions, No Plenary Meeting on Saturday

by Chief editor of world-today-news.com July 17, 2023

written by Chief editor of world-today-news.com

Tax reform: discussions remain difficult, no plenary meeting on Saturday

In a statement, he pleaded for an overview to be brought to the discussions. “The latest budgetary information available to us shows that to achieve the budgetary objectives of this government, it will be necessary to find more than one billion euros during the conclave of next September-October.

The MR believes that this discussion must take place at the same time as that on tax reform, at the risk of leading to an overall increase in taxation,” the party said in a statement. “For the MR, the proposals on the table do not at this stage constitute a balanced basis for negotiation and do not allow discussions to be resumed in plenary session. It is essential that the difficulties have been resolved and that a clear view of the coming budgetary exercise is established,” he added.

2023-07-17 16:25:13
#Tax #reform #ready #continue #bilateral #discussions

July 17, 2023 0 comments

Business

Polish Open Optical Fiber Launches New Funding for Network Modernization and Expansion

by Chief editor of world-today-news.com July 4, 2023

written by Chief editor of world-today-news.com

Polish Open Optical Fiber (PŚO), a wholesale broadband network operator launched new funding intended for modernization the current one, taken over together with the assets of UPC HFC networks (Hybrid Fibre-Coaxial) do standardu FTTH (Fiber-to-The-Home) oraz further expansion of the fiber optic network.

Thanks to this, the operator will be able to fulfill its promises of coverage over 6 million households households in Poland, which is to take place by 2028. Currently, the PŚO provides coverage for 3,7 mln farms. The network is offered without restrictions retail suppliers.

Modernization and expansion of the network are underway in the XGS-PON standard. Thanks to it, operators using the Polish Open Fiber network will be able to offer FTTH services with high speed do 5 Gb/s.

financing, in the total amount of PLN 5.125 billionconsists of term loans and revolving creditgranted to PŚO on market terms by a group of Polish and international banks and by the European Investment Bank.

We are very pleased with the acquisition and launch of this financing. It will enable the PŚO to upgrade the HFC network to the FTTH standard and meet the demand for high-speed internet in areas where broadband services are unavailable or insufficiently available

– said Jarosław Wojciechowski-Boruta, CFO of PŚO.

The period of availability of financing has been fixed at 7 years. Apart from the European Investment Bank banks are the guarantors of financing: BNP Paribas Bank Polska, Crédit Agricole Corporate & Investment Bank, Crédit Agricole Bank Polska, KfW IPEX-Bank GmbH, Santander Bank Polska and Société Générale, as well as BGK, Bank Pekao and PKO Bank Polski SA

Shareholders of Polish Open Fiber – 50% in equal proportions. – are InfraVia Capital Partnersa private equity firm specializing in infrastructure and technology investments, and the Play Group. The sale of half of PŚO shares by Play to InfraVia was completed in March this year.

Look: Play announces PLN 8 billion of investment in fiber optics
Look: Play’s optical fiber in thousands of new households

2023-07-04 13:07:07
#Polish #Optical #Fiber #Sprinkles #Billions #Network #Expansion

July 4, 2023 0 comments

Business

“South Korean 5G Operators Fined 33.6 Billion Won for Falsely Advertising Network Speeds”

by Chief editor of world-today-news.com May 24, 2023

written by Chief editor of world-today-news.com

Sounds familiar? If so, it’s pure coincidence, because it’s not about Poland with the fledgling 5G, but about South Koreaa country considered one of the world leaders in implementation of the new standard.

The Korea Fair Trade Commission announced today that operators SK Telecom, KT Corp i LG U+ have “falsely exaggerated and fraudulently advertised” 5G service speeds on their networks. The office imposed telecoms fines totaling 33.6 billion woni.e. over PLN 106 million.

In particular, the state regulator raised objections advertising download speeds of up to 20Gbps. Although in theory such data transfers in 5G are possible, currently none of the operators in the world there is no network that meets the technical requirements for such speeds. However, they appeared in advertisements of Korean telecoms explicit suggestionsthat customers will be able to use 5G with just the speed do 20 Gb/s. Each of the operators also boasted that its 5G network is the fastest in the countryalthough none had evidence to support such a claim.

So what real speeds did Korean telecoms offer? The Authority noted in a communiqué that while when advertisements for 20 Gbps services were broadcastmaximum speeds achieved in networks ranged from 656 Mb/s to 801 Mb/swhich is 3-4% of the promised performance.

The Korean commission took the matter very seriously. though the penalties imposed are not hightaking into account the huge scale of operations of operators, they do have warning character and are also a signal to customers. This is the first time in Korea that operators have been punished for falsely advertising the network’s capabilities, although according to the office, this kind of disinformation always appears, when there is a generation change mobile technologies.

The whole thing is interesting because the 5G market in South Korea belongs to most developed in the world. 5G is being used there 29.6 million customers mobile networks on a global scale market of 78 million still a small percentage, but that’s what South Korea consistently hits global rankings in download and upload speeds in 5G networks. Customers of local telecoms can use 5G in the largest cities in the band 3,4-3,5 GHzand LG U+ is getting ready to launch the band 28 GHzin which Samsung’s Korean tests managed to achieve speeds of the order of 8 Gbps.

Look: Where in the world is the fastest 5G? Opensignal ranking, March 2022
Look: GlobalData: 5.5 billion people will use 5G in 2027

2023-05-24 17:27:46
#Operators #lied #speeds #pay #millions #fines

May 24, 2023 0 comments

News

US Regional Banks in Distress: Markets Await Federal Reserve Decision on Rates Amid Uncertainty and Bankruptcy Crisis

by Chief editor of world-today-news.com May 3, 2023

written by Chief editor of world-today-news.com

From our correspondent in Washington, Guillaume Naudin

« This part of the crisis is over “. Jamie Dimon, the boss of JP Morgan was rather optimistic Monday, May 1 after the takeover by his bank of what remained of First Republic after the bankruptcy, the third of an American bank in a month. This convinced on Monday, but it worked less well on Tuesday, May 2.

The banking sector suffered again on Wall Street. Especially the regional banks. The index that concerns them lost more than 5%, but some of them took more hits with losses sometimes exceeding 20%.

It’s a bit like the market looking for the next bank likely to fall. Added to this is the expectation of the decision of the Federal Reserve on rates this Wednesday, May 3. It will intervene in this climate. Its rate hike policy has already led more or less directly to three bankruptcies of banking institutions that have failed to adapt.

The goal of the US Central Bank (Fed) is to control prices. And inflation, even if it is slowing down, is still there. The markets are therefore nervously awaiting his decision. Add to that the threat of a possible US default in less than a month, and that’s a lot of uncertainty. Which is exactly what investors hate.

■ US regional banks in distress

Tuesday, May 2, their values fell on the stock market: the regional bank PacWest plunged by more than 27.8% and Western Alliance founded by 15.1%.

For Nicolas Véron, economist at Peterson Institute for International Economics (PIIE) in Washington, despite the takeover of First Republic by JPMorgan supposed to ease the banking crisis, the sector is once again worried: “ It’s a takeover that cost the deposit guarantee authority, the Federal Deposit Insurance Corporation, a lot of money, so that’s rather bad news. That is to say, it was a bank that was in fact much less solvent than could be expected at the time it went into resolution. Secondly, at the time of the takeover, Jamie Dimon, the boss of JPMorgan who took over the First Republic, made remarks that raised concerns in the markets, that there might be other smaller banks with problems. And then, I believe, there is also the impact of the report that was released last Friday by the Federal Reserve, the US central bank, which emphasized the extent of the failure in oversight of the sector banking by the federal authorities, which is creating widespread concern throughout the American banking system. And so, if we take all these elements combined, unfortunately, we see that they do not translate into confidence building. »

2023-05-03 09:17:04

#Feverish #financial #markets #United #States #regional #banks #pressure

May 3, 2023 0 comments

Technology

“Shift Away from Wi-Fi Devices: IoT Sparks Growth in Electronics Market”

by Chief editor of world-today-news.com April 17, 2023

written by Chief editor of world-today-news.com

After the record in 2021, the demand for electronics with Wi-Fi has clearly decreased

According to an IDC report, in 2021, an 8.6% increase in sales of Wi-Fi devices was recorded. It was related to a number of global restrictions and the transition to remote work and education. This trend did not last long, however in 2022, for the first time in history, the market for devices with Wi-Fi it shrank by 4.9% to 3.8 billion products sold.

This is an echo of problems with supply chains (including pandemic lockdowns in China until December 2022), high stock levels of selected devices and components, and a noticeable crisis in the market of mobile devices, which are the most frequently purchased category of Wi-Fi devices. The problem was further exacerbated by currency destabilization and a dramatic increase in inflation — for PLN 1,000 we will now buy worse phones than 2 years ago.

The Internet of Things is the main driver of increasing sales

In 2023 do not expect a revolution – sales will remain at a similar level to that in 2022 i will be approximately 3.9 billion devices. The main driving force for the development of the market is not smartphones or laptops, but the IoT, i.e. the so-called internet of things. We are talking here about solutions for smart cities, industrial internet of things, wearable electronics or smart home solutions. Already in 2021 IoT has defeated smartphones, and in unstable In 2022, it reached 37 percent. market share. According to IDC estimates, IoT will be the largest product segment in 2027, with a share of over 40% of sales.

Huge increase in the share of Wi-Fi 6 and 6E, Wi-Fi 7 on the horizon

In 2023, client devices such as smartphones, tablets and computers will continue to lead the way, reaching 40% of global sales of Wi-Fi devices. However, a significant change will be the share of individual wireless technologies. As IDC estimates, as many as 2/3 of devices delivered in 2023 will be devices equipped with Wi-Fi 6 or Wi-Fi 6E. However, the propagation of these standards in the IoT will be crucial here as well. Wi-Fi 7 will be reserved, for now, only for premium devices.

Rebound in 2024 – cheaper smartphones?

Phil Solis, research director for smartphone connectivity and semiconductors at IDC, makes the prediction exit from stagnation as early as 2024. According to the expert, the market of Wi-Fi devices in 2024 will grow by 6.4%, reaching deliveries of 4.1 billion devices.

However, do not expect that cheaper smartphones will attract customers to stores. Price standards for premium phones, set by Samsung, Apple or Xiaomi have this that once raised, the premiere prices of phones change in favor of customers only cosmetically. Perhaps, however, the lower segment of devices will finally be unclogged and instead of cutting RAM and internal memory or pressing several-year-old processors, at the price of PLN 1,000 – 1,500, we will finally see innovations encouraging purchases.

Look: The smartphone market is shrinking, but Apple is earning more and more
Look: The tablet market is also shrinking. Declining fifth quarter in a row

Are you looking for news from the world of technology? See the latest TeleMIX:

April 17, 2023 0 comments

News

United States: controversy surrounding the visit of Bezalel Smotrich, the Israeli Minister of Finance

by Chief editor of world-today-news.com March 12, 2023

written by Chief editor of world-today-news.com

With our correspondent in New York, Carrie Nooten

Since its release on the eradication of the Palestinian town of Huwara, progressive Jewish groups had called on the Biden administration not to grant Bezalel Smotrich a visa. The White House did not accede to this request, but will not receive it as is customary.

Trip wasted

Bezalel Smotrich’s call to annihilate Huwara nearly ruined his trip to the United States. Even if he obtained his visa, this stay should leave a bitter taste to the Israeli Minister of Finance. Seventy American Jewish groups have also pledged not to welcome him during his trip as is the tradition … and he provoked an outcry from 120 leaders saying in a joint statement that the minister should not be able to express itself within the American Jewish community, that its presence is an affront to American Jewish values.

Ditch

Bezalel Smotrich, however, is expected to meet with a director of the International Monetary Fund (IMF), and with a much more conservative Jewish Orthodox group by Tuesday. But above all, this episode highlights the growing gap between some of Israel’s most loyal supporters, American Jews, who are often more politically and religiously liberal… and members offar right du parti de Benyamin Netanyahu.

March 12, 2023 0 comments

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