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You are here: Home / Archives for Business & Technology

Greek banks running out of cash as EU leaders meet

July 7, 2015 by Nasheman

Cash reserves start to run dry as ECB tightens controls and Greek PM Tsipras meets with EU creditors.

Greek banks are starting to run out of cash, with the ECB raising charges on collateral the banks require to present for funds [Reuters]

Greek banks are starting to run out of cash, with the ECB raising charges on collateral the banks require to present for funds [Reuters]

by Al Jazeera

Greece’s banks are quickly running out of cash, as Prime Minister Alexis Tsipras takes his latest bailout proposal to the country’s eurozone creditors, days after Greek voters overwhelmingly rejected their latest bailout offer.

Officials on Monday announced that the banks would remain closed until Thursday, as the European Central Bank (ECB) slowly tightened a noose on its funding.

The daily withdrawal limits were to remain unchanged at 60 euros ($66) per account daily.

Al Jazeera’s John Psaropoulos, reporting from Athens, said Greek banks were now operating “under siege”, with one major Athens bank only able to keep its ATMs open on Monday after two major companies deposited their payrolls in cash.

“The banks are living day-to-day and hand-to-mouth,” Psaropoulos said.

“They believe they have enough to keep going until Wednesday, possibly Thursday, but only under the capital controls (withdrawal limits).”

The ECB has maintained its emergency liquidity lifeline for Greek banks, however it raised charges on collateral the banks require to present for funds, effectively devaluing the banks’ assets and making them less able to borrow against their collateral.

“The situation is becoming financially worse, not just more politically difficult,” our correspondent said.

Greece last week defaulted on a $1.8bn repayment to the International Monetary Fund, and on Sunday, in a referendum, the Greek people voted to say “no” to Europe’s bailout deal.

Rapid negotiations

Tsipras on Tuesday must persuade Europe’s other 18 leaders, many of whom are exasperated after five years of the Greek crisis, to open rapid negotiations for a major new loan to rescue his country.

He spoke to German Chancellor Angela Merkel regarding the new proposals ahead of Tuesday’s hastily arranged emergency summit of the eurozone countries in Brussels.

Germany and France, whose economies together account for nearly half of the eurozone, on Monday asked Greece to make detailed proposals to revive bailout talks, a day after the referendum that decisively rejected creditors’ demands for further austerity.

Late on Monday, a Greek government source said that Tsipras had spoken to ECB chief Mario Draghi in efforts to reopen banks with assistance from the Frankfurt-based lender.

Tsipras also spoke to IMF chief Christine Lagarde “on the need to find a viable solution dealing with the real problems of the Greek economy”, the source said.

Lagarde said the IMF was “ready to assist Greece if requested to do so”, despite the June 30 default.

European Commission head Jean-Claude Juncker said on Tuesday that while he did not want Greece to leave the eurozone, in a so-called Grexit, the Greek people had voted on a deal that “no longer existed”.

“We have to put a very large ego away and deal with the situation we face,” Juncker said.

Tsipras insists that instead of a Grexit, Greece’s creditors will now finally have to talk about restructuring the country’s massive 240 billion euro ($267bn) debt to them.

Filed Under: Business & Technology Tagged With: Banks, EU, European Union, Greece

Agreements worth $22bn inked in India-China business forum

May 16, 2015 by Nasheman

Modi_china_CEO

Shanghai: As many as 26 business agreements worth over USD 22 billion were signed today between Indian firms — including Adani group, Bharti Airtel and Welspun — and thier Chinese counterparts on the last day of Narendra Modi’s three-day visit to China.

These MoU and agreements span a wide range of industries, including renewable, energy, power infrastructure, steel and small & medium industries.

Among major agreements is Bharti Airtel’s tie-up for credit facility of USD 2.5 billion with China Development Bank and Industrial and Commercial Bank of China.

The Adani Group also inked an agreement with Golden Concord Holdings to establish an integrated photovoltaic industrial park in Mundra SEZ and to explore investments in gas power generation and natural gas sector.

In another pact, Adani Ports & SEZ and Guangzhou Port Authority agreed to establish “sister port relationship” between Mundra Port and Guangzhou Port.
Welspun Energy entered into a memorandum of understanding with Trina Solar of China to jointly set up a PV industry park for production of 500 MW of Photovoltaic (PV) cell and 500 MW of PV solar module in India.

“(These) are a reflection of the strong interest of Chinese companies to invest in India and contribute towards ‘Make in India’ initiative,” an official statement said.
It further said the agreements would also facilitate cooperation between Indian and Chinese companies in the film and entertainment industry and “will help in making more Chinese friends/audiences aware of India’s strength in this area.”

The other significant MoUs include, IL&FS and Industrial & Commercial Bank of China (ICBC); IL&FS Energy Development Co and China Huaneng Group for 4,000 MW Nana Layja Thermal Power (Coal) project; and Jindal Steel and Power and ICBC on development of potential projects.

Technology major Infosys also entered into an MoU with People’s Government of Qiannan Autonomous Prefecture to jointly build ‘China India Information Service Industry Corridor’ in Qinnan.

Bhushan Power and Steel too signed a pact with China National Technical Import and Export Corporation for an integrated steel project in Gujarat.

Speaking at the India China Business Forum, Modi had reached out to Chinese investors asking them to take advantage of the “winds of change” in India with a much more transparent, responsive and stable regulatory regime.

(PTI)

Filed Under: Business & Technology, India Tagged With: China, Narendra Modi

Connect the world or capture It? Critics raise alarm over Facebook's spurious Internet.org

May 6, 2015 by Nasheman

Facebook service promises free web access for the developing world, while threatening the privacy and rights of hundreds of millions worldwide

Internet.org is already available to 800 million people in nine countries across Africa and Southeast Asia.

Internet.org is already available to 800 million people in nine countries across Africa and Southeast Asia.

by Lauren McCauley, Common Dreams

Privacy rights and open internet advocates are sounding the alarm after Facebook on Monday announced changes to its “free” Internet for the developing world, dubbed Internet.org, which critics say threatens to make the social networking company the de facto Internet “gatekeeper” for hundreds of millions worldwide.

Branded as an initiative to “connect the two thirds of the world that doesn’t have internet access,” Internet.org will reportedly work with local telecom providers to provide free Internet access to a handful of pre-selected websites—including Facebook—as well as others related to “health, education, communication, finance, jobs and local information.” The application has already launched in a number of African and Southeast Asian countries, as well as Colombia in South America.

Internet.org has previously come under fire for violating the principle of net neutrality because it only offers access to certain websites. In India, a number of major publications including the Times of India media group have withdrawn from the site in protest.

In response to that critique, in a video address on Monday, Facebook CEO Mark Zuckerburg announced a new platform model, under which Facebook will offer “an open program for developers” to create “very simple and data efficient” sites to be among those offered to Internet.org users.

“Giving people more choice over the services they use is incredibly important,” Facebook said.

However, this new platform is even worse, argues Josh Levy, advocacy director for the digital rights group Access.

The change, Levy writes at Wired on Tuesday, “sets Facebook up to serve as a quasi-internet service provider—except that unlike a local or national telco, all web traffic will be routed through Facebook’s servers. In other words, for people using Internet.org to connect to the internet, Facebook will be the de facto gatekeeper of the world’s information.”

Considering the market that Internet.org hopes to reach, that amounts to hundreds of millions of people worldwide. On April 17, Zuckerburg said that more than 800 million people in nine countries, including Kenya, Zambia, Tanzania, India, Indonesia, and the Philippines, already have access to the site.

In addition, Levy warns that by excluding commonly used security protocols, such as SSL and TLS, in their criteria for potential developers, Internet.org threatens to “undermine the security” of their users.

Further, Facebook’s new platform “lacks transparency,” as it has failed to disclose important policy details regarding the storage of and government requests for user data.

As Vice journalist Jordan Pearson points out, because Internet.org user access will be routed through Facebook’s servers, the company will “get a huge amount of insight into users’ online activity.” What’s more, Internet.org users will be subject to Facebook’s data policy, which leaves open the possibility for their information to be shared with advertisers as well as the Facebook’s partner organizations.

“However they may want to present Internet.org, Facebook are not in the business of philanthropy, they’re in the business of making money,” Paul Bernal, professor of technology law at the UK-based University of East Anglia, told Pearson. “With Internet.org that means two things: capturing a market, then using that market. They want people to be hooked in, and then their data is, effectively, controlled by Facebook. In the current era, if you can control someone’s data, you have a huge amount of control over them.”

Filed Under: Business & Technology Tagged With: Facebook, Internet, Internet.org, Net Neutrality

In conversation with Minhaz Lokhandwala, CEO of Novosol Mobile Magic

March 17, 2015 by Shaheen Raaj

“Funpack Is India’s 1st Multimedia Mobile Magazine!!!” – Minhaz Lokhandwala

Minhaz Lokhandwala is the Founder & Chief Executive Officer in Novosol. Minhaz began Novosol in 2006 and is the Principal Shareholder of the company. Minhaz holds 2 decades of experience in Telco Business coupled with a strong vision, strategy & skills set. He has held senior operational business management & consulting roles at McKinsey, PBS & Hewlett Packard across US & South-East Asia. He has completed Bachelors in Physics & MBA (Marketing & Finance) from Rice University, USA in the year 1987. He also has Diploma in Project Management from IIM, Ahmadabad, India & also a Diploma in Structured Software Development & Architecture. Minhaz is a member of several prestigious associations such as IEEE; MENSA-San Francisco; Singapore Logistics Association; Project Management Institute (USA) & Singapore-India Association.

To set the ball rolling in your court, kindly give us an insight into the concept of Funpack?

Ok so let’s come straight to the point. Funpack featuring fresh & engaging content such as Latest Movie Trailers & Reviews, Off-beat Unique Content, Cricket & Football Updates, and much more in high-tech audio-visual format – Funpack entertains, informs & uplifts the viewers. In this uplifted context, the advertiser’s message & promotion is brought to the viewer’s attention.  With a reach of over 1 Crore Mobile Numbers, Multimedia Elements & Interactivity…….Funpack delivers superior exposure, impact & leads…….in short a unique & superior marketing ROI.

How & when did Funpack originate?

Funpack started in Malaysia 4 years back and with the support of all the Telcos it reached over million users,  25% of the population. On the advertising part, all major media companies such as Disney, Sony Pictures, Universal Music Group, 20th Century Fox, StarTV had used it to gain rapid & broad exposure of their new releases. In India, Funpack has been used by Red Chillies for ‘Happy New Year’ movie promotion. We believe that Funpack offers an unbeatable business case for the entertainment & media industry.

What are the subscribers’ charges & spam concerns?

Funpack is free to subscribers, we don’t charge from users; it is actually an ad supported service and a permission-based service, so no question of being a spam. Subscribers can stop the service anytime with an SMS.

And why the tagline ‘Fun On The Run’?

The Funpack subscribers get unique, interesting, happening & uplifting content, aimed to win a smile. Cricket, Football, Movies, Current Events, Public Service messages and more are presented to users with a twist & attitude. Since, Funpack is delivered straight into the mobile’s inbox, the subscribers can access this fun content anytime, anywhere and smile. Hence, the tagline ‘Fun On The Run’.

How is Funpack different from other digital advertising solutions?

Well, Funpack has many unique aspects: over 10 million reach, mgram tech, which delivers rich media content directly to the phone, Unique ‘Fun On The Run” Content, Interaction and Lead Generation, Superior visibility as compared to any other BTL platform and most importantly, a superior ROI.

With its potentially huge mobile reach, visibility, impact & interaction, Funpack will be a game changer in marketing. We are currently working to expand our reach to 25 million and there is no reason why Funpack cannot reach all Indian mobile users. Presently no other digital advertising service has these capabilities or possibilities.

What kind of campaigns would you suggest for Bollywood?

Well, ‘Win Free Tickets’ is very effective. The contests asking for ‘Slogans or Quiz Responses’ generate very high exposure & engagement, higher engagement greatly increases the likelihood that the subscribers will buy the products or tickets.

How does the advertiser track the campaign? Is there any reporting system?

Novosol believes in ‘Complete Transparency’ and Funpack provides an online reporting mechanism, which an advertiser can access by logging-in with their ids & passwords. Once logged in, the advertiser can view……..Daily summary of Funpack delivered with their Ads, Daily Summary of Funpacks retrieved & viewed with their Ads, Details of SMS Responses & Interactions (if enabled by advertisers). All these reports are backed by Telco Logs and viewable for audit.

Are there any other benefits to Bollywood?

There are many benefits, being a publisher we review movies, rate item songs, cover celebs, events & awards. Thus for added exposure, we can cover the Movie on Funpack and on our MoMoviez.com publication. We also offer banner ads on our various momags- mocricket.com, mofutbol.com,momoviez.com & mosportz.com, which provide an additional 12 million reach in India, Malaysia & Indonesia.

Lastly tell us about other Funpack advertisers?

Funpack has recently been launched in India, yet our list of advertisers includes Samsung, Dominos, Dabur, Red Chillies & Foresight Opticals.

Filed Under: Business & Technology Tagged With: Minhaz Lokhandwala, Novosol Mobile Magic

India tops in asking for content restrictions: Facebook

March 16, 2015 by Nasheman

facebook

New Delhi: Facebook blocked 5,832 pieces of content, including anti-religious matter and hate speeches, during July-December 2014 on orders of Indian government, the highest by any country on the social networking giant’s platform.

In its Global Government Requests Report for July to December 2014, the California-based firm said it has “restricted” 5,832 pieces of content.

“We restricted access in India to content reported primarily by law enforcement agencies and the India Computer Emergency Response Team within the Ministry of Communications and Information Technology, including anti-religious content and hate speech that could cause unrest and disharmony,” the social networking platform said.

Facebook’s report includes information on government requests it received for content removal and account data and national security requests under the US Foreign Intelligence Surveillance Act and through National Security Letters.

India is followed by Turkey at 3,624 number of pieces of restricted content, then Germany at 60, Russia (55) and Pakistan (54), the report stated.

Besides, India made 5,473 requests for data, mostly concerning criminal cases, to Facebook in July-December 2014.

According to Facebook, government officials sometimes make requests for data about people who use Facebook as part of official investigations. The vast majority of these requests relate to criminal cases like robberies or kidnappings. In many of these cases, government requests seek basic subscriber information such as name and length of service. Other requests have asked for IP address logs or actual account content, it added.

“Each and every request we receive is checked for legal sufficiency. We require officials to provide a detailed description of the legal and factual basis for their request, and we push back when we find legal deficiencies or overly broad or vague demands for information.

“Even where we determine that local law would compel disclosure, we frequently share only basic subscriber information,” Facebook said.

The requests covered 7,281 user accounts and Facebook provided “some data” on 44.69 per cent of the requests.

(PTI)

Filed Under: Business & Technology, India Tagged With: Facebook, India, Security

Apple debuts $17,000 watch, some waiting for killer app

March 10, 2015 by Nasheman

Apple CEO Tim Cook introduces the Apple Watch during an Apple event in San Francisco, California March 9, 2015.

Apple CEO Tim Cook introduces the Apple Watch during an Apple event in San Francisco, California March 9, 2015.

by Edwin Chan and Alexei Oreskovic, Reuters

San Francisco: Apple Inc (AAPL.O) launched its long-awaited watch on Monday, including yellow or rose gold models with sapphire faces costing up to $17,000, but some investors questioned whether Chief Executive Tim Cook’s first product would be a breakaway hit.

Apple’s first new device since Cook became CEO will be available for order on April 10 and in stores on April 24, including chic boutiques in Paris, London and Tokyo.

In a nod to both fashion and technology, Cook shared the stage with model Christy Turlington Burns, who used it to train for a marathon, and Apple engineers who showed how to send drawings, pictures and even heartbeats with the watch.

Apple shares barely budged, however. Investors and analysts agreed that Apple would sell millions to fans but questioned whether it had a “killer app” that would engage a broader audience. Apple in September gave a sneak peek of the watch which included many features shown on Monday.

“I think there’s a niche market for these kind of Apple tech people who love Apple and will buy anything they come out with. But I just don’t know if it’s going to be the power product that everyone’s looking for,” said Daniel Morgan, senior portfolio manager at Synovus Trust Company in Atlanta, Georgia, who described Wall Street as “scratching its head”.

Members of the style establishment, in Paris for shows from the glittering likes of Chanel, Givenchy and Hermes mostly said they saw the watch as a gadget, not this season’s must-have accessory.

The Edition price tag which is inexpensive compared with a Patek Philippe Nautilus at just over $42,000 on 11main.com, inspired plenty of jibes on social media, including many who questioned whether it would become outdated and compared the price to a car’s. “Wonder what kind of gas mileage it gets,” asked Twitter user Christopher Caruso.

Nevertheless many made clear they wanted it. “My birthday is gonna rock this year… 🙂 #applewatch,” wrote Jay Runquist.

The Apple Watch sport will start at $349 for the smaller, 38-mm model. The standard version of the watch will start at $549 and the high-end “Edition” watch will be priced from $10,000, said Cook, who loved the Dick Tracy ability to hold phone calls by watch.

“I have been wanting to do this since I was five years old,” said Cook.

The different models reflect different materials. A $17,000 Edition in the smaller, 38-mm size, has a case made from a customized version of 18-karat rose GOLD, which is especially hard, along with a sapphire display. It comes with a magnetic charging case.

A $349 Sport model the same size has an aluminum case, a ‘sport band’ and a magnetic charging cable, and no case.

All the watches share digital faces that can look like traditional time pieces, show the heart beat of a friend, and display photos and interfaces for apps.

“Apple’s been very good at personalizing its products,” said Angelo Zino, an analyst at S&P Capital IQ, who said the “intimacy” of the watch was appealing. He saw 10 million in sales this year.

In the presentation, Cook described the watch handling many functions currently associated with the iPhone, which tethers wirelessly to the watch and connects it to the Internet.

The watch will track exercise and remind wearers of events with a tap on the wrist.

Cook also laid out other product successes and launched a new MacBook notebook computer that starts at $1,299 and weighs as little as 2 pounds.

Every major car brand had committed to delivering Apple’s CarPlay entertainment system, and the new iPhone 6 and 6 Plus have 99 percent customer satisfaction rates, he said. The Apple Pay payment system is now accepted at 700,000 locations, and Time Warner Inc’s (TWX.N) HBO in April will debut its streaming HBO NOW service on Apple TV.

Apple also is offering researchers new development tools, called ResearchKit, to help medical researchers design apps for clinical trials, the company said.

(additional reporting by Alexandria Sage, Piya Sinha-Roy, Ellen Wulfhorst; writing by Peter Henderson; Editing by Bernard Orr)

Filed Under: Business & Technology Tagged With: Apple, Apple Watch, Tim Cook

Obama names Indian American investor as IMF director

March 6, 2015 by Nasheman

Sunil Sabharwal

Washington: President Barack Obama has nominated Sunil Sabharwal, an independent Indian American investor in the payments sector, as US Alternate Executive Director at International Monetary Fund for a term of two years.

The White House sent Sabharwal’s nomination to the Senate on Wednesday. At over two dozen, Obama administration boasts of having the highest number of Indian Americans in key jobs than any previous administrations in the US.

Sabharwal, who has been an independent investor since 2006, was the chairman of the Board of Ogone, a European ecommerce payment services company, from 2011 to 2013, according to the White House.

He advised Warburg Pincus on its acquisition of Easycash, a German network services company, subsequently becoming a board advisor from 2006 to 2009.

From 2003 to 2006, Sabharwal was senior vice president of strategic investments at First Data Corporation/Western Union.

From 1997 to 2003, he held several positions at GE Capital, including managing director.

From 1992 to 1996 he worked at the European Bank for Reconstruction and Development.

Sabharwal received a BS from The Ohio State University and an MS from the London Business School.

(Agencies)

Filed Under: Business & Technology, India Tagged With: Barack Obama, IMF, International Monetary Fund, Sunil Sabharwal, United States, USA

No change in ease of doing business under Modi's first 9 months: HDFC Chairman Deepak Parekh

February 20, 2015 by Nasheman

On benefits from oil prices, he said there are many countries that import oil but benefits have been huge for India

Photo: Abhijit Bhatlekar/Mint

Deepak Parekh. Photo: Abhijit Bhatlekar/Mint

Mumbai: Pitching for relaxing “administrative controls” to improve ease of doing business, business leader Deepak Parekh has said impatience has begun creeping in among businessmen, as nothing has changed on the ground in the first nine months of the Narendra Modi government.

He said the industry was still optimistic about the changes it expects from the Modi government, but optimism is not translating into revenues and there has been little improvement on ‘ease of doing business’ front so far.

Parekh, known as a guiding voice of the Indian industry and has been on a number of key government panels on various policy and reform matters, further said the ‘Make in India’ can’t succeed unless it is made easier for people to do business here and the decisions are fast-tracked.

“I think there is still a lot of optimism among the people of the country and among the industrialists and entrepreneurs that the Modi government will be good for business, for progress, for reducing corruption. They think this government means business on all these fronts.

“However, after nine months, there is a little bit of impatience creeping in as to why no changes are happening and why this is taking so long having effect on the ground.

“The optimism is there but it is not translating into revenues. Any industry you see, when there is a lot of optimism, the growth should be faster,” Parekh told PTI in an interview. Parekh, an eminent banker and chairman of financial services giant HDFC, has always been very vocal with his views on reform and policy measures taken by the various governments over the past three decades. He was among the first industry leaders to openly criticise the previous UPA Government for “policy paralysis” after a spate of scams led to decisions getting delayed within the government and business began getting hurt.

“The thing is that our Prime Minister had a lucky period in these nine months. The world commodity prices are at all-time low which help India the most,” Parekh said.

Parekh cited the example of delay faced by his own group’s HDFC Bank, the country’s top private sector lender, with regard to approvals required for raising of funds, including from overseas.

“Things are happening at such a speed around the world, we need to move faster as well. Just to give you an example of our own case. We needed to raise some capital in HDFC Bank. It took more time this time than earlier years to get approvals from FIPB,” Parekh said.

On benefits from oil prices, he said there are many countries that import oil but benefits have been huge for India.

Japan is also one of the countries that imports oil. But it does not make any difference to Japan with the reserves of oil they have, whether oil is at $50 or $40 or even $110. Also, they are willing to pay higher price because they can afford it, but we can’t.

“We have fiscal deficit and shortage of foreign exchange. These factors, when the government came into power, this was not there on the cards. No one had ever anticipated this (fall in oil prices). Just like none of the 7-8 opinion polls predicted 67-3 in Delhi, no one predicted among the oil analysts at the big firms that the oil will become USD 55. No one predicted this,” he said while emphasising that the first nine months of the Modi government has been extremely lucky for it.

Elaborating on HDFC Bank’s example with regard to ‘ease of doing business’, Parekh said, “It got FIPB approvals. Then FIPB minutes had to be signed, and then it had to go to the Cabinet Committee on Economic Affairs.

“People were helpful but processes have not changed. Now we are a 20-year-old organisation and we are within the limits (of 74 per cent foreign investment cap). Why can’t they change these things. Why can’t the administrative controls be relaxed.

“If 49 per cent in defence is permitted and if someone wants to put in Rs 1,300 crore, why should this go to the Cabinet Committee. The FIPB is good enough and it is within the 49 per cent. So, you have to remove controls. You have to make it easier for people like us to do business.” He said the final approval letter came on the last day, after which the issue of Rs 10,000 crore had to be postponed as there were other listing deadlines of Indian and the US stock markets to be met.

“It is very difficult. And it is only administrative and what does it achieve? If it is within the limits, why should it go to Cabinet Committee on Economic Affairs. Why spend the Prime Minister’s time on such things as he chairs the CCEA.

“If it is a controversial issue, something on security or on defence or some other very important issue, then it can, but not for simple commercial transactions. Someone must take the initiative to remove this,” he said.

Parekh said that this committee has been there for the last 35 years that he has been in the industry.

“When I started working 35 years, it was Rs 200 crore, now it has gone up to Rs 1,200 crore (foreign investment limit beyond which the case is referred by FIPB to CCEA), but it has not been scrapped.”

Suggesting that this revised limit was also very low, Parekh wondered, “Why is it Rs 1,200 crore, make it Rs 5,000 crore. Besides, if it (the investment proposal) meets the guidelines of FIPB, which is chaired by the Finance Secretary and the Finance Minister is always aware of FIPB cases, it should be good enough.”

He also said that a lot of work needs to be done at state levels too on ease of doing business, as things have not changed there either on approvals to start construction of a business etc.

(PTI)

Filed Under: Business & Technology, India Tagged With: Deepak Parekh, HDFC, Make in India, Narendra Modi

Banning kids from using technology is counter-productive

February 16, 2015 by Nasheman

Children are accessing technology at an earlier age than ever. Pixabay

Children are accessing technology at an earlier age than ever. Pixabay

by Joanne Orlando, The Conversation

Taiwan recently made the unprecedented move of banning children two years and younger from using any form of digital technology.

Older children and teenagers will also be severely restricted, with new laws stating children aged 18 years or less will only be permitted to use electronic devices for a “reasonable” length of time. What is “reasonable”, however, is yet to be defined.

As with the use of any illegal substance or product, severe fines (in the vicinity of A$1,500) are in place for parents should their child break these new laws. This new ruling is a measure to limit children from potentially spending long hours in front of a screen.

In neighbouring China, online addiction among young people has reached epidemic proportions. The Taiwanese government does not want the island nation to follow in China’s footsteps. And they’re not alone.

Children’s use of technology is booming around the world, and this is causing anxiety for many. Governments and lobby groups internationally are making moves to restrict the ways children can use technology.

In an attempt to combat cyberbullying here, the Australian Council on Children and Media is urging the Australian government to launch a debate regarding the age of ownership of smart phones. Current figures indicate that the majority of children get their first mobile phones at about the age of 10 years.

This new lobby initiative is based on the premise that many children have unsupervised access to technology, and therefore have a greater opportunity and inclination for cyberbullying.

Japan has moved in a similar direction to combat cyberbullying, with parts of the country introducing a curfew that bans children from using smart phones and mobile devices after 9pm.

Similarly, in a recent article in the Huffington Post, a paediatric occupational therapist called upon “parents, teachers and governments to ban the use of all handheld devices for children under the age of 12 years”. Under the proposed guidelines, children older than six would be allowed a total of two hours of screen time, including television, per day.

Growing up with a screen

These new laws, initiatives and pleas are motivated by the idea that technology is bad for children, and that only by restricting their access will they be able to grow up happy and healthy.

This suggests that by the single (and seemingly simple) act of removing technology from their lives, bullying will become non-existent, all children will be fit rather than overweight, and that mental health problems such as aggression and depression in childhood will diminish.

Children’s health and happiness are essential goals. However, magic wand thinking is not going to get us there. Children may be young, but this does not mean their lives are simple. There are many factors at work that would lead to a child cyberbullying, just as there are multiple factors that contribute to an individual being obese.

Technology is an intricate part of life today and there is a lot of benefit to its use. Banning or restricting children’s access has far reaching implications for their health and happiness.

Not allowing children to use devices or the internet hampers their ability to engage with the world they live in. Similarly, technology offers many educational benefits for children; school curricula around the word rely on technology for this very reason. If children’s access to technology is restricted, long term implications for children’s opportunities for learning may arise.

Digital technology is already being used for education. Lexie Flickinger/Flickr, CC BY

Long-term economic implications could also arise from this. How will children ready themselves for the job market when they are 18 years old if they have had little chance to develop deep knowledge of how to use technology to find, organise and communicate ideas?

It would be like waiting until a child is 18 years old before they can own and use their own literacy tools such as pens, paper and books. This is the knowledge economy, yet this plan is from the dark ages.

With banning devices also comes the need for surveillance. One might envisage that parents or teachers would be expected to undertake this role. Child/parent and child/teacher relationships are vitally important for children.

Research consistently tells us that positive relationships with key adults have long term and unmatched implications on children’s self esteem, confidence and happiness.

A government adding an unfathomable surveillance role of not allowing technology use (in our technology bound society) gives the message that children are not be trusted and will add significant strain to these relationships at a cost to children.

Embracing technology

Technology is not going away. Locking children away in a tech-free tower until they are adults is not the answer. Why not shift gear to one of hope, potential and the pursuit of how to live well with these devices?

This doesn’t necessarily mean listening to all the advertising about technology and how it can change our lives, but rather taking a critical approach to considering the benefit it holds for our children and how to achieve it.

Part of this is seeing technology from the perspective of children to understand the value they find in its use and how this matches our own goals for them as they grow and develop.

It also means understanding how technology can be managed in the home so complaints about children’s use do not remain the unwavering focal point. Many families have developed meaningful strategies that work for children and adults. It is these families that should be the starting point for this understanding.

While Taiwan’s tech-laws have been introduced to support the wellbeing of children, learning to grow well with technology rather than restricting it, may be more conducive to that goal.

Joanne Orlando is a Senior lecturer, Educational Technology at University of Western Sydney.

The Conversation

Filed Under: Business & Technology, Opinion Tagged With: Children, Cyber Bullying, Smart Phones, Technology

How YouTube Changed the World

February 13, 2015 by Nasheman

YouTube

In late 2005, when YouTube was just a few months old, one its co-founders announced that the site’s users were consuming the equivalent of an entire Blockbuster store each month. Today, 300 hours of video are uploaded to the site every minute. And Blockbuster… Well, kids, Blockbuster was a video rental shop offering films on DVD and VHS. VHS tapes were like giant cassettes. Cassettes were… Oh, never mind. From The Telegraph: How YouTube Changed the World.

Filed Under: Business & Technology, Cabinet of Curiosities Tagged With: Internet, Video, YouTube

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