Technical Debt: How is it measured, and how can my Business get rid of it?
On occasion, as businesses improve the maturity of their IT operations, there is a need to implement technology faster or cheaper than originally envisaged. Compromises are made to deliver the solution, intending to address any shortfalls later. This compromise is known as technical debt, sometimes also referred to as tech debt or code debt.
Over time, organizations may realize that so many compromises have been made, or to put it another way, so much technical debt has accumulated that most of their time and energy is spent on maintaining technology, reducing the resources available for creating and deploying new tools and services.
For IT leaders, the pandemic has significantly contributed to technical debt. For instance, to expedite the deployment of new tools and technology to enable remote working, some best practices, steps, or processes would have been omitted in the interest of speed of delivery. However, these omissions may need to be retrospectively implemented sooner or later.
On this page:
What is Technical Debt?
Technical Debt refers to the additional expenditures of maintenance that arise later on due to early compromises between quality and speed during software development.
It’s a frequent metaphor in engineering groups because it illustrates the hidden costs of making technological choices. Like any other kind of debt, technical debt provides immediate benefits in exchange for obligatory future repayments plus interest.
Due to the ever-evolving nature of software development tools and standards, every software product will eventually need maintenance and re-building of components.
How does Technical Debt accumulate?
Many things might be anticipated while building a solution, and you can spend significant time planning your project or polishing your code. However, there are always a few circumstances outside your control that might lead to technical debt:
- Schedule Pressures: Because of the pressure to produce within a shorter timeframe, development teams often offer apps that aren’t entirely complete or lack essential functionalities. To get to market faster, development teams may sacrifice performance and quality.
- Constant Revisions: Even fully functional, timely developed programs risk becoming outdated once they hit the market. IT executives face continual difficulties as a result of rising consumer demands, new business possibilities, new cyber risks, and developer churn.
- Obsolete Technology: Most coding languages, frameworks, and libraries used to create contemporary apps are outdated or unsupported yearly. Python today may become Visual Basic tomorrow.
Technical debt is often associated with aging or discontinued goods, but it is there from the beginning. Have you ever been in the midst of a new project’s planning phase when you suddenly discovered you would be unable to complete the project within the allotted time frame?
Later on, you may always alter it. But now you’re placing your faith in your ability to make the time sometime in the future.
There is always something more to do and a new deadline to meet. If you put off fulfilling duties, there’s a good chance you won’t get around to it.
How To Measure Technical Debt
Measuring technical debt is challenging since there is no one statistic that can provide a comprehensive picture. Finding a way to quantify technical debt’s knock-on consequences is the next logical step.
Since it is hard to quantify technical debt directly, its effects on other business KPIs must be evaluated.
When calculating technical debt, the most critical second-order indicators are:
- Cycle time: The time it takes to complete a job. It is the period between a developer’s initial commitment to a piece of code and when it is deployed in programming. Shorter cycle times suggest an efficient process with less technical debt. More extended cycle periods have the opposite effect.
- Stability and quality: If it takes longer to make a modification and address an issue permanently rather than just developing a workaround, you most likely have a tech debt problem. When a change in one element of a system causes changes in other unrelated areas, this is a sign of instability.
- Developer happiness: If your developers are becoming more dissatisfied with a certain system in comparison to others, this is an indication that that system may have more tech debt.
A technical debt ratio is one metric that may be used to try to put a number on technical debt (TDR).
TDR measures how much it will cost to repair a software system compared to how much it initially costs to create (development cost). If time is selected as the metric, TDR calculates how long it will take to resolve the issue.
However, there is no universally recognized method for calculating the technical debt ratio in engineering groups.
How can my Business manage Technical Debt?
The costs associated with fixing technical debt may quickly mount. Here are a few strategies for preventing and efficiently managing such an occurrence.
Follow these steps to keep your debt under control and prevent it from overwhelming your organization’s resources and plans.
Identify, track, and document your Business’s Technical Debt
Every piece of hardware, every piece of software, every network connection, every cloud service, and every application integration should be monitored.
The IT department should understand technical debt and why it’s essential. Almost every action an IT group takes will eventually need some upkeep.
Users may be happy and proclaim success when projects are rushed, important support tasks are accomplished, and standard processes are bypassed.
IT executives realize that premature project completion frequently leads to extra work.
Then, there are the extras that go beyond the norm: That important person who, even if everyone else uses a Dell, must have a ThinkPad. The 32-bit database server is used for a niche project, while 64-bit is the standard. When all other departments in an organization use Microsoft 365 and OneDrive, that one department’s cloud subscription is a bit of a mystery.
Keeping track of the debt serves two purposes: first, it informs IT leaders as to where their money is going, and second, it explains why the time spent on maintenance is so much greater than expected.
Budget for Organizational Technical Debt
Your company’s IT expenditure model should include cash for technical debt and upkeep. This holds truer for unique products, such as customized computer parts.
Putting a price tag on these expenses facilitates talks among management and the end users. The IT department’s role is to assist the business, but that doesn’t imply it should bury its expenses in a mysterious pot. The IT department’s ability to provide detailed reports on its time and money allocations to the executive team is a key factor in successful budget negotiations.
Knowing how much something will set you back over the long term is also helpful. Information Technology is in a better position to provide reliable guidance on projects and requests if it is up-to-date on the expenses associated with maintaining hardware, software, and, most importantly, bespoke configurations.
Long-term business success depends on judiciously juggling limited resources and conflicting demands. Better resource allocation is possible when IT can foresee a given activity’s immediate and long-term expenses.
It is important to allocate some of the engineering team’s time and energy to assess the level of technical debt that has already been accumulated. Plan to do so on a regular basis, perhaps monthly or quarterly.
Technical debt may be the focus of 20% of engineering efforts. It’s also helpful to classify such initiatives as either modest or huge.
The minor ones can be dealt with quickly by engineering without making them a major roadmap priority and requiring buy-in from other parts of the company. The bigger ones will have a noticeable effect on your output for a longer length of time. Therefore, it’s important to plan for them and make that plan public.
Mitigating existing Technical Debt
There are circumstances in which debts need not be repaid. It may be more economical to discover another method of handling unfinished tasks.
IT teams may retire old systems with excessive continuing expenses by documenting and planning for ongoing and delayed maintenance costs. They can remove modifications that disproportionately influence IT resources by doing the same.
Some IT infrastructure may be retired or removed for reasons other than cost or budget. However, prioritizing adjustments requires understanding how much money is spent on each.
Prioritizing based on continuing expenditures is acceptable if there is a top 10 list of systems scheduled for replacement or retirement.
Negotiate your Organization’s Technical Debt
Information technology leaders sometimes must deal with technical debt that was once someone else’s responsibility.
Cyber security is a prime example of when the time to implement is the primary driver, particularly after an audit has been conducted. IT leaders should think twice (and maybe fight back) when other teams pile on technical debt before accepting it.
If a member of the security team reads a report from an auditor or views a vulnerability analysis console, they may not fully grasp all of the suggestions made.
Moreover, they can lack the background knowledge necessary to assess the full scope of the danger posed by tampering with long-standing, reliable infrastructure components like networks and storage devices.
Managers of information technology who are saddled with technical debt may be able to negotiate relief from part or all of the obligation, especially if the debt was incurred due to the actions of other teams.
Maintenance tasks are taking up a larger share of company time and resources, which may be put to greater use elsewhere. IT leaders may increase their IT maturity and contribute meaningfully to the whole planning process by keeping detailed records of routine and emergency maintenance and allocating sufficient funds for both.


Financing a Business in Czech Republic
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Financing a Business in the Czech Republic
Obtaining your finance for your business in the Czech Republic is the next step after market research, location research and business planning is undertaken. You may wish to talk to your accountant about possible ways of obtaining finance as they can help and advice on the subject.
Here are some ways of obtaining possible finance when setting up a business in Czech Republic:
- Bank finance your bank maybe able to help with finance. It is important to approach them with a well written business plan, this way they can see why the money is required, how much, how it will help to develop your business and potential growth.
- Stock Market - floating your company on the stock market maybe a possible way of raising more finance. This will depend on the type of business you set up. AIM, the junior partner of the London Stock Exchange (LSE), has established itself as the preferred route for younger companies wanting to go public.
- Public Aid information on public aid from the Czech Republic government can be found the website of CzechInvest it is the Investment and Business Development Agency and is an agent of the Ministry of Industry and Trade of the Czech Republic.
- CzechInvest is divided into three areas business and innovation, human resources and employment, and research and development. To find out more about the funds, loans and guarantees go to their website. http://www.czechinvest.org/
- Tax relief and Incentives The Czech Republic Chamber of Commerce represents large, medium and small sized businesses in local and regional chambers and branch associations. They can may be able to help with information on possible tax relief or incentives.
- The CzechInvest website can also help with tax incentives.
- Business Info website this portal is operated by the government agency, CzechTrade, and the guarantor is the Ministry of Industry and Trade. http://www.businessinfo.cz/cz
- European Aid grants are direct financial contributions from the EU budget or from the European Development fund. It is worth checking out your possible grants, funds and programmes by following the link and looking under a particular section i.e. Agriculture, Energy or Audiovisual and Media. http://ec.europa.eu/grants/index_en.htm
It can be overwhelming when trying to find ways of obtaining finance. It is worth remembering that there are over 450 funding sources for reimbursable grants, aid schemes, individual fellow and traineeships, loans and guarantees in the EU. These can be awarded from such organisations like the European Commission, the Council of Europe, the European Investment Bank and others.Helpful links are:
Organisations that can assist with Financing a Business
Business Banking advice Advice on which type of bank account would best suit your business. Help making payments – and getting paid.


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Avendus Capital Public Market Alternate Strategies, the asset management wing of Avendus Capital, on Tuesday announced the proposed launch of its category III Alternative Investment Fund (AIF).
The new Equity Long/Short (Hedge Fund) AIF venture of Avendus Capital has applied to the Securities and Exchange Board of India (Sebi) to launch the fund and its approval is expected shortly.
Alternative Investment Fund refers to any fund which is a privately pooled investment vehicle, which collects funds from investors, whether domestic or foreign, for investing it in accordance with a defined investment policy for the benefit of its investors.
Various types of funds such as hedge funds, PIPE Funds, etc., are registered as category III AIFs. The company is expecting to close the new fund offer (NFO) period on March 10.
The minimum investment in the fund during the NFO period is R5 crore. The fund will be investing in Indian listed equities as well as equity derivatives.
During an interaction with reporters, Andrew Holland, CEO of Avendus Capital Public Market Alternate Strategies, said the fund aims to deliver a return of anywhere between 15% and 20%.


NYDFS emergency regulations need 90-day home loan forbearance, waiver of ATM, overdraft, charge card belated charges for borrowers showing pecuniary hardship
As a result to New York Governor CuomoвЂ™s Executive Order 202.9 given on March 21, the newest York Department of Financial Services (DFS) has used brand brand new laws to give crisis relief to people who can show hardship that is financial a outcome .
The brand new laws had been promulgated as an ingredient 119 to Title 3 associated with New York Official Compilation of Codes, regulations.
Any bank which can be susceptible to the jurisdiction for the Department shall perhaps not give a forbearance to your individual or business who’s got a pecuniary hardship because of this for a time period of three months. in their Executive purchase, Governor Cuomo temporarily suspended or modified, for the duration through the date associated with the Executive purchase through April 20, 2020, Section 39 of this stateвЂ™s Banking Law вЂњto provide so it will be considered an unsafe and unsound company training if, as a resultвЂќ your order:
New role 119 relates to regulated organizations, that are thought as вЂњany Brand New York banking that is regulated as defined under nyc Banking Law and any New York regulated mortgage servicer entity susceptible to the authority of this Department.вЂќ They are the requirements that are following apply for the duration of the Executive purchase
- Ny regulated organizations must make forbearance applications for just about any payment due on a residential home loan of home situated in Ny вЂњwidely offered to anyone who resides in Nyc and whom shows pecuniary hardshipвЂќ due to the pandemic and, susceptible to security and soundness needs, must give such forbearance for the period that is 90-day. The necessity will not connect with any home loans online payday loans Oregon вЂњmade, insured, or securitized by any agency or instrumentality for the united states of america, any Government Sponsored Enterprise, or perhaps a Federal Home Loan Bank, or the rights and obligations of every loan provider, issuer, servicer or trustee of these responsibilities, including servicers for the national nationwide Mortgage Association.вЂќ (See our alert to find out more regarding the forbearance needs.)
- Ny regulated banking institutions, for almost any person that can show monetaray hardship as a consequence of the pandemic and at the mercy of safety and soundness needs, must eradicate costs for the employment of ATMs owned or operated by the regulated banking organization, eradicate any overdraft costs, and eradicate any bank card belated costs.
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Agricultural biotechnology evolution and impact
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Agricultural biotechnology evolution and impact
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NOT since October has there been such a major power cut on the Costa del Sol which has seen businesses and individuals badly affected although as quickly as it happened, it has already started to be fixed.
It seemed to concentrate on the area between Calahonda and Fuengirola and as well as electricity, telecommunications were also badly affected with Vodafone and Orange at least going down as well.
For large companies in the Miramar Centre and around that area in Fuengirola, business was literally brought to a standstill as tills stopped working and there was a potential danger with large numbers of people having to leave the stores and cash machines unable to work.
So many appliances have to be restarted when there is a power cut and in some cases, there is a possibility of damage to electrical items.
The cause is unexplained at the time of reporting the outage but there are bound to be a large number of unhappy consumers getting ready to complain as they did in October.
Thank you for taking the time to read this news article “Power cuts cause chaos from Calahonda to Fuengirola”.


What the tax authorities are up to: Key audit trends globally
Public and political pressure has seen tax authorities play closer attention to transfer pricing. Deloitte’s Tony Anderson, Alex Evans, Mariusz Kazuch, Rafal Sadowski and Lian Tang He explore changes in Canada, China and Poland.
Tax authorities around the world are increasingly focusing on transfer pricing (TP) matters, partly due to a combination of public and political pressure, and the transparency afforded by country-by-country reporting (CbCR). This article explores what is happening in Canada, China and Poland in the area of tax audits. Given the close working relationship between global revenue administrations, it is likely that similar trends will spread more broadly.
The Canadian government continues to make improved tax compliance a high priority, as seen by the proposal to invest C$91 million ($69 million) to this area in 2018's federal budget. This brings total investment towards improved compliance to almost C$1.1 billion since the 2016 federal budget.
In its approach, the Canada Revenue Agency (CRA) recently implemented a risk-based, integrated system to international and large business audits. They have created multidisciplinary teams of specialists to address complex and emerging tax issues, with clear targets to combat aggressive tax avoidance and TP abuses. The CRA's newly developed IT solutions enable them to assess the compliance risk of the entire large business population annually.
The CRA estimates that during the 2016-17 fiscal year, these initiatives identified a total impact of C$8 billion. This came from the tax assessed, tax refunds reduced, interest and penalties, and the present value of future federal tax assessable arising from compliance actions.
Recent statistics confirm the CRA's TP compliance activity. A total of 160 mutual agreement procedure (MAP) cases were closed in 2016, and C$194 million in TP penalties were imposed for the period ending March 31 2017. Furthermore, the number of completed advance pricing agreements (APAs) has been increasing, with 36 completed in 2017, compared to 26 in 2016 and 21 in 2015.
Key focus areas
CRA auditors continue to emphasise substance, real economic activity and the ability of parties to control and manage pertinent risks, while downplaying the significance of contractual risk-bearing and legal ownership of capital and assets. Some specific examples include their focus on low-risk distributors and contract manufacturers.
Auditors are very attentive regarding joint decision-making, local value-adding contributions to intangibles, and similar factors that justify higher returns to Canadian taxpayers. There is a tendency to reject one-sided methods that limit the Canadian taxpayer to a low routine profit. The disposition of intangible property between international related parties and hybrid financing structures is also a priority area.
Interactions with tax authorities and recent audit and APA trends
A trend observed in recent CRA audits is the auditors' diligent and detailed fact gathering, as demonstrated by multiple rounds of written queries and increase of in-person interviews with taxpayer personnel. Communication with the CRA is reasonably unrestricted, and most auditors are quite receptive to keeping lines of communication open.
At the audit stage, time frames are very case and audit team-specific, but may range from one to three years in most situations. According to the CRA's Advance Pricing Arrangement Program Report (2017), the average completion time for bilateral APAs during 2017 increased to 48.5 months, up from 47.3 months in 2016. This increase in completion time is troubling, given that one of the goals of BEPS Action 14 is to improve international dispute resolution.
Transfer pricing adjustments proposed by the CRA can first be disputed at the audit level. If the dispute is not resolved at the audit stage, a notice of objection can be filed with the CRA Appeals Directorate (appeals process), fast tracking to the Tax Court of Canada, or through the MAP article of Canada's bilateral tax treaties (MAP process).
As a caveat, the appeals process does not resolve double taxation unless the CRA overturns the adjustment in full. For this reason, most TP cases are resolved through the MAP process, which provides a high success rate in alleviating double taxation. In 2016, 72% of closed MAP cases resulted in full double tax relief, according to the 2017 APA programme report.
If relieving double taxation is not the primary concern, taxpayers may prefer the appeals process. This may be relevant in cases in which a (non-resident) corporation is at a loss, or is located in a low-tax/no-tax jurisdiction. The preferred way to resolve audit disputes will depend on a number of factors. There were 160 MAP cases closed in 2016, compared to one tax court judgment in 2018. At the time of this writing, there have been less than 10 TP tax court cases in Canada's history.
The attitude of Polish policymakers and tax authorities towards transfer pricing and aggressive tax planning has changed significantly in recent years.
Key focus areas
Some of those changes have been legislative, and include the introduction of all internationally recognised standards regarding the exchange of information, anti-abuse and compliance into domestic law (that usually go further than the OECD's BEPS recommendations), the implementation of foreign corporation rules, a general anti-abuse rule (as of 2016), as well as new reporting obligations for tax audit selection purposes or mandatory disclosure rules (ahead of the deadline in the EU directive).
Organisationally, a large number of officials have been re-directed from VAT fraud audits to investigating corporate income tax (CIT) and TP cases. Changes have been implemented across local tax offices, right up to the Ministry of Finance, with the creation of a dedicated transfer pricing department to increase tax officials' TP proficiency. In outlook, the focus of audits has shifted to concentrate on specific, previously identified risk areas.
The resulting impact is that the overall value of TP/aggressive tax planning assessments in Poland increased exponentially from PLN 10.7 million in 2015 ($2.8 million), to PLN 650 million in 2016, and PLN 2.3 billion in 2017. The focus areas are consistent with those observed in other EU/OECD countries: restructuring, financial transactions, and intragroup dealings (primary business activities, intangibles and management fees).
Interactions with tax authorities and recent audit and APA trends
The level of professional discussion with auditors has improved, while significant central support from the Ministry of Finance is provided to auditors to properly address issues.
The administrative course of TP proceedings is different in practice (although not formally) to CIT cases. In 'usual' cases, taxpayers appeal the initial assessment (undertaken at the local tax authorities level) to the tax courts, which is followed by a court proceeding.
The outcome of appeals at the tax court level appears quite random in TP cases. Like most other countries, Poland's tax administrator takes the position that the court's decision (irrespective of its conclusion) is binding on the treaty partner's authorities, effectively denying taxpayers the ability to file an MAP request. Therefore, an unfavourable court decision may result in double taxation.
In TP cases, it is highly recommended that taxpayers actively manage the audit process. Once a decision is issued, MAP proceedings are more effective and predictable than the ordinary controversy route. Furthermore, Polish domestic law since 2006 has allowed the use of APAs to manage TP risk, seeing a rise in the popularity of APAs.
This increase in TP risk has been accompanied by the imposition of severe personal penalties on management personnel, and broadened compliance obligations. For example, from January 2019, a Polish company's management board will be obliged to file a statement (under personal penal responsibility) that the company's TP documentation is complete, and the TP charged by the company are at arm's length.
Disputes with tax authorities may arise surrounding the functional profile of parties, rising costs, or the validity of the comparables data used. Even a small change in the parameters of a transaction can translate into a high assessment and become the personal responsibility of the board of directors.
This increased risk has been enhanced by a new tax law, introduced January 2018, which denies the deduction (for CIT purposes) of any payments for intangible services or property in excess of PLN 3 million, plus 5% of earnings before interest, tax, depreciation and amortisation (EBITDA). The CIT Act provides only two exceptions to this rule:
The taxpayer is able to prove that the intangible service/intangible property is "directly connected" to the manufacturing of products or to services provided; or
The transaction is covered by an APA.
Given the second exception, taxpayer interest in APAs may rise, which may potentially lead to an increase in the average completion time for APAs, unless the Polish tax authorities expand the capacity of the APA team.
Historically, TP investigations were the core function of Chinese tax authorities and the primary method to enforce tax administration. However, there has been a gradual shift: China's State Administration of Taxation (SAT) now encourages local tax authorities to assist taxpayers in improving their TP compliance in advance, rather than focus on conducting investigations.
In order to identify potential TP risks, the Chinese tax authorities have actively explored the use of computer analytic tools. In 2018, the tax bureau of Jiangsu province launched a risk profiling pilot programme, distributing upstream and downstream financial information request forms to 150 multinational companies. This represented unprecedented access to global information, and enables the local tax authorities to perform an assessment on the allocation of profits within the multinational group.
Based on that assessment, each taxpayer is categorised according to a particular risk profile. Taxpayers assigned a higher-risk profile are identified, and cautioned to revise their related-party transaction pricing policy. This initiative is expected to be rolled out shortly in 10 other Chinese cities, and nationwide within the next three years.
According to China's Advance Pricing Arrangement Annual Report for 2016 (issued December 2017), the Chinese tax authorities signed 14 APAs in 2016. Eight of those agreements took less than a year to complete, and six took three. The number of completed APAs has steadily increased each year, and is expected to continue to rise. As of December 2016, 301 APA applications were being evaluated concurrently, and 139 cases were at the signing phase.
Key focus areas
In recent years, the Chinese tax authorities have focused on issues such as location-specific advantages (LSAs), the local economic ownership of intangibles, and restructuring transactions.
China's tax authorities have particularly emphasised value chain analysis, which advocates function and risk review of all entities involved in related-party transactions, and then assesses the profit allocation among those entities. This may sometimes result in the utilisation of the profit split method for transfer pricing adjustments to account for local non-routine contributions.
The increased focus on intangibles applies not only to technology but also to marketing intangibles. By examining the economic substance of a transaction (primarily the location of people, functions, associated assets, and actual control over risk) the Chinese tax authorities have attempted to scrutinise the potential creation of local intangibles by taxpayers. If the Chinese tax authorities determine that local intangibles have been developed, an appropriately determined portion of the residual profit would be demanded as an allocation to China.
Chinese entities that are compensated with routine returns while creating non-routine value (from the Chinese tax authorities' perspective) in the form of certain R&D, brand building or market-penetrating activities, have been in the spotlight. In those cases, compensation based on the cost plus method would not be satisfactory to Chinese tax authorities.
Interactions with tax authorities and recent audit and APA trends
The Chinese tax system can be depicted as a triangular system:
District and municipal-level tax authorities deal with day-to-day TP management and investigations;
Provincial-level tax authorities are responsible for reviews and approvals on local enforcement; and
The SAT's anti-avoidance division is responsible for the formulation of legislation, national audits and negotiations with competent authorities.
According to recent observations, many local tax authorities have shown a more open-minded attitude when communicating with taxpayers, and encourage taxpayers to make voluntary 'self-adjustments' before the authorities initiate formal investigations and adjustments.
Once a TP audit is formally initiated, the time frame for conclusion is difficult to predict and depends on a number of factors. For cross-border related-party transactions between entities in China and a treaty country, TP adjustments are allowed through MAPs to avoid double taxation. Chinese tax authorities are actively involved in more MAPs, and have not only increased the number of competent authority (CA) meetings, but also the efficiency and effectiveness of the negotiations.
A trend observed recently is the accelerated speed with which TP negotiations have been conducted. According to the APA annual report for 2016, successful APAs in 2016 were mostly concluded within two years of the filing of an application. Unlike other jurisdictions, China does not allow Chinese companies involved in a TP audit to apply for an APA for the years under investigation.
If a taxpayer disagrees with a TP adjustment, disputes may be resolved through an administrative appeal or litigation. In reality, there is limited chance of success in an administrative appeal for TP audit cases, not to mention litigation. Nonetheless, in case of a TP adjustment, a corresponding adjustment is allowed through the MAP process to avoid double taxation.
Based on the issues discussed in this article, tax authorities are taking a more proactive approach regarding the management of transfer pricing risk. Increasingly, tax authorities are placing importance on the economic substance of related-party transactions, as opposed to the contractual and legal obligations of those transactions.
As tax authorities become more sophisticated in their identification of TP risk through further investment in technology, the importance of ensuring appropriate TP outcomes will become even more prominent. APAs have become an important tool in assisting taxpayers to obtain certainty on future related-party transactions, and the MAP process can be useful to eliminate double taxation.
© 2019. For information, contact Deloitte Touche Tohmatsu Limited.This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited, its member firms or their related entities (collectively, the "Deloitte network") is, by means of this communication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser. No entity in the Deloitte network shall be responsible for any loss whatsoever sustained by any person who relies on this communication.
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Tony Anderson is a partner and economist who leads Deloitte Canada's transfer pricing practice.
Tony has over 22 years of professional experience as a transfer pricing specialist with Deloitte. He has assisted numerous multinational companies across various industries establish and defend their transfer pricing policies before the Canadian and foreign tax authorities through audit defence, appeals, litigation, competent authority and APA cases. Tony has been involved in and led successful dispute resolutions in over 50 transfer pricing controversy cases.
In addition to leading the preparation of both the economic and functional analyses for documentation and tax controversy purposes, Tony has been significantly involved in strategically evaluating, planning and implementing tax and business efficient transfer pricing policies.
Tony is a chartered financial analyst (CFA), and holds MA and BA degrees in economics. He has been a speaker at various transfer pricing conferences organised by the Institute for International Research, CITE, and Acumen, as well as various Deloitte tax and transfer pricing seminars.
Tel: +1 905 315 5795
Alex Evans is a Senior Manager with Deloitte's National Transfer Pricing team in Canada. Alex holds a Bachelor's degree (honours, with distinction) in Commerce from McMaster University and is a member of the Chartered Professional Accountants of Canada and the Canadian Tax Foundation. Alex has assisted numerous clients across various industries establish and defend transfer pricing policies to the Canadian tax authorities. Alex provides services to Canadian headquartered multinationals, as well as many Canadian subsidiary companies of foreign multinationals, primarily in the manufacturing and technology sectors. Alex has also authored or co-authored articles appearing in publications of the Canadian Tax Foundation, International Bureau of Fiscal Documentation (IBFD), Bloomberg, Deloitte's Arm's Length Standard newsletter, Deloitte Canada Transfer Pricing Alerts, and was acknowledged for contributions to an article appearing in Euromoney's Transfer Pricing Advisers Expert Guide.
Tel: +48 662 288 424
Mariusz Każuch is a director with Deloitte Poland. He has been involved in the negotiation of numerous advance pricing agreements, MAP cases, and controversy cases for multinationals operating in various industries, including the energy, automotive, consumer goods, banks and entertainment sectors.
In 2016 and 2017, Mariusz served as deputy director of the department at the Polish Ministry of Finance responsible for MAP and APA negotiations, and transfer pricing policy and legislation. Before that, Mariusz was deputy director of the tax policy department (MoF) responsible for tax policy, double tax treaty negotiations, and international cooperation. Mariusz supervised the negotiation of more than 50 international agreements, including 36 income tax treaties.
Mariusz is the author of the special petroleum fiscal regime in Poland and co-author of the copper and silver extraction tax law. While with the tax authorities, he participated in many fiscal projects, including training the Zambian and Kenyan tax authorities on the tax policy for extraction of mineral resources.
He gained practical experience in fiscal audits during his years as a tax inspector specialising in the insurance and banking sector.
Tel: +48 22 511 09 65
Mobile: +48 691 898 725
Rafał Sadowski is a partner in Deloitte Poland's transfer pricing team. During 18 years of professional career, he has gained extensive experience in fields like business restructuring, risk management, and transfer pricing litigation projects.
Rafal's areas of interest include: intra-group transaction planning, transfer pricing aspects of business restructuring, and transfer pricing litigation. He has significant experience in proceedings on advance pricing agreements (APAs) and mutual agreement procedures (MAPs).
Deloitte Poland's transfer pricing team was awarded International Tax Review's 2014 and 2015 award for Transfer Pricing Firm of the Year. Rafał has been recognised by Euromoney/Legal Media Guide as one of the world's leading transfer pricing advisers. He works for major clients in a number of sectors including: FMCG, automotive, banking, insurance, retail, energy and pharmaceuticals.
He Lian Tang
Tel: +86 10 85207666
Mobile: +86 18611158819
He Lian Tang is a partner and leader of Deloitte China's transfer pricing practice. Before joining Deloitte, He worked for China's State Administration of Taxation (SAT) for 28 years, serving as chief of the anti-tax avoidance division in the international tax section, and as chief of the third office of large enterprise taxation administration section (management of tax risks of large enterprise). He had been engaged in taxation regarding offshore oil since 1984, and has extensive experience on international tax services and administration, especially in the oil industry.
Since joining Deloitte China as a transfer pricing partner, He has served various clients, including large state-owned enterprise groups, private enterprise groups in China, and large multinational enterprise groups from Europe, Japan, the Republic of Korea, the US and other regions. He has assisted those clients in establishing global transfer pricing policies and designing tax risk management systems in response to the challenges and requirement of BEPS, applying for unilateral/bilateral APAs and providing transfer pricing advisory service and MAP services, which has gained him the trust and respect of both tax authorities and enterprises.


Meet 40 German companies
21 – 25 February 2014
BIEC Bangalore International Exhibition Centre, India
Welcome to the presentation by the Federal Republic of Germany at Indiawood!
The Indian timber industry has great opportunities for the future. By international standards the country is still developing at a fast pace. With the growth of the economy the living standard of the population continues to improve. The future market for floor coverings and furniture is enormous. Thanks to low costs of production Indian products are competitive in the global market.
German manufacturers of woodworking machinery lead the world in the field. They offer much more than just the machine: Thinking of themselves as partner to the timber industry, they offer their know-how and their detailed knowledge of production procedures, beginning with the investment decision and throughout the entire utilization period of the machine.
At the official information stand at Indiawood our experts will be only too happy to supply you with information and advice on the wide range of products associated with this industrial sector. The Association of German Producers of Woodworking Machinery will also be glad to provide you with details of the companies participating at the exhibition and on this sector of industry in general.
GreCon Greten GmbH & Co. KG
Spark Extinguishing System
Booth number: H1UL B204
Booth number: H1UL B203
RENOLIT COVAREN PRINTS
Booth number: H1UL A101
Riepe GmbH & Co. KG
RIEPE chemical products
Booth number: H1UL C303
Wemhöner Surface Technologies GmbH & Co. KG
Short-cycle Press Line with EIR Technology
Booth number: H1UL A102
Wandres GmbH micro-cleaning
Booth number: H1UL A106
COMFORT II from Kesseböhmer - new spice rack for even more storage space
The Kesseböhmer development team for the new "Comfort II" base unit pull-out included product designers, engineers and professional cooks. The outcome of this productive and successful cooperation is an under-the-counter larder unit pull-out that is practical and extremely user-friendly. ...
The perfect edge
World first from Festool: CONTURO - the first mobile edge bander with unique cartridge gluing system In February 2014, Festool is launching the new CONTURO system onto the market - a hand-guided electric power tool for edge banding and a complete system solution to create the perfect edge with ...
Optimised Medium-Pressure Spraying Technology
Against a background of more stringent requirements in regard to quality, environment protection and cost effectiveness, neither conventional paint spraying technology nor HVLP is the optimum solution for many users. This gap has now been closed with the introduction of medium-pressure spraying ...


Peer-to-peer atomic swaps between Monero (XMR) and Bitcoin (BTC) are now enabled on mainnet, according to COMIT Network, an open protocol that enables ‘trustless’ cross-blockchain applications. Users can trade XMR for BTC without having to trust a middleman or the trading counterparty. Users can trade more simply without having to go via a regulated financial institution.
The Monero cryptocurrency is well-known for its privacy and fungibility. Monero, unlike other cryptocurrencies, conceals the sender, receiver, and transaction amount for all transactions. This lets it to expand its privacy safeguards to include more transactions than Bitcoin, Ethereum, and all other “privacy coins” combined.
Atomic swaps are presently available on COMIT Network, however other teams are working on comparable projects, such as:
Haveno, a Monero-focused fork of Bisq, is introducing atomic swaps for its XMR/BTC trading pair.
Farcaster, to build up a similar trustless atomic swaps system, the Farcaster project raised 2727 XMR (about $650,000 today).
Relatedly, Cross-chain bridges for Secret Network and Thorchain have also been released, allowing for seamless trade with Ethereum and Binance Smart Chain tokens.
Trading options are limited. Despite rising retail user demand for private and fungible money, these decentralized exchanges are in high demand. There are more than twice as many Monero transactions per day than there were a year ago.
“Now that the decentralized Monero exchange technology is out, it’s a race for wallets to give the greatest user experience,” says Justin Ehrenhofer, a Monero Space organizer. “With such tremendous user demand for simple and private peer-to-peer exchanges, it’s only a matter of time before wallets adopt them in a big way.”
A few well-known Bitcoin and Monero wallets have expressed interest in atomic swaps. Earlier last month, Samourai Wallet and Monerujo executed a test swap, and Cake Wallet has expressed interest in implementing atomic swaps.


Peoria has a big complex, err… coming to town. Like most area residents, news that happens in Peoria or around it is done with cannonball into the pool type fashion. You don’t hear it, or see it coming, you just feel the giant splash of water after the fact. Such is the case with the new sports complex that has been unveiled [Big News].
Recent reports indicate a brand spanking new facility that will have state of the art baseball fields and a full-service dome will be built out in the hinterlands near The Shoppes at Grand Prairie. On the surface, this looks like home run and a big win for a city that needs more runs on the board. However, looks can be deceiving from where you sit, and sometimes what looks like a home run often gets caught at the wall on the warning track.
*Disclosure* I played sports growing up, baseball in particular, on a youth traveling team to be even more specific, and have endured my fair share of road trips to towns around the Midwest because of this.
New development, especially that of sports fields in a family-friendly city, is always big news [Read Story]. Development attached with a household name that can lead to 250,000 new visitors to the area per year, possibly fuel more development, and leading to the spending of visitors discretionary income is always seen as a good thing. I can’t argue this myself, but how we build our environment to handle such matters affect those who live here on a full-time basis and subsequently have to foot the bill before, during, and after.
Just a short while ago, we read in pain that Walmart was seeking to take a divot out of the greenspace known as the Peoria Public Stadium [Story]. A parcel of property 82 acres in size, encompassing a football field, track, softball fields, playground, and open space was going to be a new location to buy everyday, low-priced items.
Believe it or not, this didn’t excite the masses [Facebook page]. While this activity centered around the Peoria Public School District, Park District and the evil empire from Arkansas, it brought to the forefront that our environment, recreation and consumerism are often at odds. And of course, I even provided my own take on that then [Middle Ground].
Ultimately, there has to be a new approach to development in Peoria. It needs to happen in order to ensure the viability of projects and to ensure the financial sustainability of the City itself for many moons to come. Yet, it seems that we put this out of our minds and move on to the next at bat but forget what we learned from striking out before.
This proposed development, now with the Louisville Slugger name attached has everyone all aflutter. Love the product myself. Love what athletics can do for kids. Don’t love the proposal as much.
Let’s take a look at this from the nose-bleed seats…
Yesterday, the Planning Commission voted in favor to allow the public to be informed before approving the annexation of 34 acres for the proposed development [Story][updated, thanks Nick]. Any approvals the Planning Commission sign off on still have to go before Peoria City Council for final approval. According to the initial story, this comes with a $9.6 million bond (which could get repaid by the proposed hotel revenues) and an increase of local sales taxes from 6% to 9%.
Ok, well how much money is this going to bring in? Around $900,000 of new revenues each year. Not bad. But you have increased taxes and have a big amount in a bond hanging out there which is contingent on the hotel paying it back.
Batter steps out of the box…
But wait, I thought that the County was going to need to increase taxes by 1% on the School Facilities Tax to make repairs to the Peoria Stadium [That Story]? Confusing indeed. That whole ordeal has been getting ironed out behind the scenes. Both of these situations may lead to increases in debt and higher taxes all around.
…Steps back into the box, slider just misses – Ball One
“I don’t think it’s an overstatement to say this project is probably going to have the biggest impact on our community since this building was built.”
That statement was in reference to the Civic Center, which has done a great deal to bring events, conferences, and people to downtown, but hasn’t necessarily induced the projected positive development it had touted 30 years ago – it just remains an amenity (see: dead downtown).
…Fouls pitch off deep down the left field line – Strike One
Building by Grand Prairie makes a lot of business sense for the developers of this complex. According to the Travel Industry Association of America, the Top 10 Activities of Domestic Travelers are:
- Shopping 31%
- Outdoor Recreation 14%
- Historical places/museums 13%
- Cultural events 9%
- Beaches 8%
- National/state parks 8%
- Nightlife/dancing 8%
- Gambling 8%
- Theme/amusement parks 6%
- Sports events 5%
More fun facts and statistics in this PDF.
Peoria sells its proximity to bigger cities based on the drive time it takes to get there. The map we’ve all seen looks like this:
But let’s face it. Those visitors from afar are coming in on a highway to their hotel, dropping their bags, playing 2-3 games per day for 2 days or so, shopping and eating – then leaving. Is this the “real” Peoria experience? Probably not. They might go into town if they are so inspired, but there would have to be real good reason to do.
As urban historian and observer Jane Jacobs put it,
Almost nobody travels willingly from sameness to sameness and repetition to repetition, even if the physical effort required is trivial.
…Curve ball, just outside – Ball two
As we dive deeper into what is located in and around The Shoppes at Grand Prairie – a different story gets told. All of those chain stores, big-box retailers, fast-food restaurants and national hotel chains that are located near where the proposed development is planned aren’t local businesses. Yes, they are situated here locally, but their headquarters (where the money goes at the end of the day) is somewhere else besides Peoria, besides Illinois for that matter…
This is where the same mentality we’ve had for years has led us astray. Reports, studies, and too much information to comprehend, has come out in recent years indicating that our economic formula of modernist style development doesn’t breakeven in the long run. Having just gone through Small Business Saturday we all know this:
Chain restaurants return only 37% of their revenue to the local economy, compared with independent restaurants which return 56% in wages, locally purchased goods and services, profits, and charitable donations
This concept is better known as the Economic Feedback Loop. Those stores and restaurants, while they may offer variety and a service, build a bad economy (read: not just financially, but what they do to the community at-large). One that reduces the amount of money actually kept in YOUR TOWN. So, although I personally don’t prefer them, I may still spend money there BUT creating a sea of visitors in that space will ultimately reduce the total economics in your city by forcing them to shop there.
And on their way out of town they’ll probably stop off in Morton and grab a bite at a fast-food restaurant there before making it out of the region. While this may almost certainly achieve an increase in sales tax revenues, it doesn’t solve our long term situation. That’s why we make PSA’s like this one or hold press conferences like this one.
…Changeup caught the corner – Strike Two
It’s not that I bring attention to past things that were said to call anyone out, quite the opposite. I use these examples to show WE KNOW BETTER, yet we still continue the humdrum and contradictory status quo developments because it looks good and sounds good.
Frankly, it is still good news – great news if we go back up to our bird’s eye view seats and watch the whole game. This interesting at bat with the game on the line has made things more interesting.
Steps back out of the box and looks down to the third base coach…
Peoria has the opportunity to increase land value, increase the quality of life, attract many visitors, provide jobs, and gain sales tax revenues. Wow, that’s a lot to take in.
What about that old stadium that will still need renovations or a new idea to bring that space back to life?
It is closer to the downtown you are trying to revitalize, neighborhoods that have stagnated in value, other amenities, and serves a greater population than just visitors. That will still have to be looked at again won’t it? Yep.
…Takes the signal steps back up to the plate
What if instead of raising taxes at both ends, one for renovations to the school/park facility and the other for annexing land… what if instead of allowing a corporate entity to take over what is sacred ground to citizens… and what if instead of creating a brand new facility on the outskirts of town, why don’t we take an altogether different approach to maximize our strength?
There are 82 acres at the site of the Peoria Stadium. This proposed development needs 24, maybe a little more as time goes on. Perfect! The land that currently serves as a recreation space can get a breath of fresh air and updating it needs. It solves District 150’s financial woes and reduces the workload for the parks department. Add in this proposed hotel and you have provided jobs closer to the people who would work there.
We want to create better performing space while preserving the integrity of our city right?
As far as preservation goes, it may not keep the football field and softball fields intact as they are today, but they can get the financial boost they need to become economically stable once again. This reduces the burden on taxpayers all around. It is what public/private partnerships could be. While those fields may be busy come game day or tournament time, they sit empty for a majority of the time. This is space that can be open to the public the remainder of the time, not just open for visitors.
The wind up…
Let’s not further the sprawl mindset. This complex is great news. I’ve struggled to put it into words until now. The games I played in, and the comradery formed when we were kids still is talked about in folklore today [Great Movie]. The word about developments like this get fed to us at different times so it’s often hard to tell what the entire meal tastes like.
Peoria can be more than just a spot that is in close proximity for teams from Iowa, Missouri, Indiana, Wisconsin and our own state come to and fully enjoy. Make Peoria a place that they feel has some authenticity and they want to come back to it regardless of if there is a tournament in town. This option laid out now doesn’t do that. It furthers the mentality that has plagued us for decades (see: reason for Focus Forward CI). It incurs costs not only on this development, but future ones, and ones that are currently in the works. All of that AND it puts less $$$ back into the pot at the end of the day.
Are we going to swing for the fences and not have enough power to get it over? Or, are we going to play the game smart enough to still get the winning run in?
…maybe it’s time we get creative.


World Bank News Release: Loan and Credit Summary
WASHINGTON, June 19, 2018 - The World Bank’s Board of Executive Directors today approved the following project:
Uttarakhand Workforce Development Project:
IBRD Loan: US$74 million
Terms: Maturity = 17 Years, Grace = 5 Years
Project ID: P154525
Project Description: The program development objective is to help improve the quality of training at select Industrial Training Institutes (ITIs) and increase the number of labor-market-relevant workers through short-term training in Uttarakhand.


CINCINNATI — Deer Park Roofing has announced the acquisition of a Louisville, Ky. roofing company as of Sept. 30.
Fackler Commercial Roofing, located at 605 Marret Ave., will now be known as Deer Park Roofing after the acquisition. Terms of the sale were not disclosed.
Deer Park Roofing President Nick Sabino said this is his company’s first acquisition, and is prepared to look at other opportunities if it enables Deer Park Roofing to better serve its customers.
“This acquisition should help us service a number of customers that have properties in the Louisville area more efficiently,” said Sabino.
Fackler Commercial Roofing is expected to expand its staff of eight by at least 50 percent in the next year. Its owner, Stephen Fackler, has been in the commercial roofing industry for 41 years.
Deer Park Roofing, located at 7201 Blue Ash Road, was founded by Sabino in 1996. The business has 133 employees serving Ohio, Kentucky and Indiana and took in $20 million in revenue in 2018.


Fewer vacant stores by end of 2022: BRC - LDC Vacancy Monitor, Q4 2022Date published: 2023-01-27 Date modified: 2023-08-14
Local Data Company The Local Data Company 901 901
Local Data Company is the UK’s most accurate retail location insight company. We physically track every retail and leisure business across the entire country. Our data powers strategy and decision making for our clients working across retail, leisure, out-of-home media, investment, property and financial services.


The Fed has been acting as a buyer of last resort for almost 15 years when it comes to US Treasury bonds. Quantitative easing brought balance sheet expansion, and particularly through SOMA (System Open Markrt Account) the Fed has been acquiring a very important percentage of all treasury issued for years. That was key during the pandemic when the Fed expanded its balance sheet almost as much as it was issued. In June 2022, however, the Fed announced quantitative tightening, and it’s no longer the buyer of last resort and it’s letting its SOMA portfolio run off, while the treasury needs to issue more debt to cover the fiscal deficit. The result is the alligator chart you see below. As a consequence, the whole treasury yield curve, with the exception of the Overnight bucket that is controlled by the FOMC, is moving up, to adjust to the new reality, where the supply is far bigger than demand.
Want to know more? join Fund@mental here https://apps.apple.com/us/app/fund-mental/id1495036084


Verizon and AT&T have jumped head-first into the shallow end of the social networking pool. The companies will charge consumers up to $35 per year to access unpopular social networking sites, a feature they’re respectively billing as “SocialLife” and “My Communities.” Not part of your social life or your community: Facebook.
Verizon will charge $17.88 per year for their service, a bargain compared to AT&T’s $35.88 fee.
Rob Hyatt, executive director of premium content for AT&T’s wireless division, said a service like “My Communities” would be helpful for novice users who are not as familiar navigating the mobile world as they are online. The new services also give much needed exposure to sites that might otherwise be overlooked, he added.
Translation: We’re going to overcharge ignorant people to access unpopular social networking services.
To us, it’s just another sad example of cellphone companies trying to beat cash out of consumers in exchange for half-baked features that kinda resembles what they want, but still manage to entirely miss the mark.
We’re not sure why anyone would pay to access services like AsiaAve, BlackPlanet and MiGente, Faithbase, or GLEE, when they could access more popular services through their web-enabled phones.
Be social and tell us what you think in the comments.
AT&T and Verizon Wireless Offer New Services for Friends [Bits]


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Think Niall Harbo Harrison revealed to twitter that he’d deleted his Facebook account recently. Some domino effect
Was there ever a good time to be in Twitter stocks?
Facebook is dead, I’d like to see the break down of the age profile of their users. I’d hazard guess they have a very small share of the under 25 market. Yes they have Instagram and WhatsApp too but I’d imagine both of those are far harder to monetise than Facebook.
That utter cunt Garry Vee always said Snapchat was king. Jab jab hook
The last year was pretty good for TWTR, up 100% even with today’s decline.
Agree on Facebook.
The trump factor. They still can’t make money out of it though
All their growth in subscribers is gone after they removed the fake accounts.
He called FB dead yday
FB is dead a couple of years now.
I had to join wechat this morning to be accessible to some Chinese investors. Feeling mugged off ever since
Is that the one where you can send money to other wechat users? Its a big thing in China
I wouldn’t be leaving that on a work machine or using it to transfer any sensitive information.
I’d say the average age of a FB user nowadays is about 60.
Bit of a rebound from Tesla after better than expected results. Cash burn rate has slowed to $750m per quarter.
Tesla has turned the corner. Great set of results last night, shares up 10% in after hours trading. Musk even apologised to the analysts he made shit of.
Apple has just become the world’s first trillion dollar company.
Incredible company. To maintain their dominance for this long when they actually design and sell things, and not just ads, is pretty amazing.
Masters of marketing.
There’s so much to admire, from the marketing to the design to the supply chain.
They simply will not allow their products to become cheap tat worldwide. They won’t sell anywhere that they have to give up their price edge. Their power is amazing, I know that for years the Irish phone companies had to pay upfront for the devices.
I find it amazing how they’ve brainwashed so many people into buying their products that are inferior to competitors but yet paying a premium to do so. You cant but admire this.


Friday, 25 July 2014
Last updated 1 hour ago
Dec 11 2007 | 9:34am ET
A pair of high-profile activist hedge funds have taken aim at Europe’s largest consumer-electronics maker, aiming to improve “operating performance and capital structure.”
D.E. Shaw Group and Jana Partners said this weekend that, together, they had acquired 1.6% of Royal Philips Electronics. The hedge funds did not elaborate on their plans, only saying they will “act together to jointly communicate their views, publicly or privately, regarding operating performance and capital structure.” Het Financieele Dagblad, the Dutch business newspaper, said the hedge funds plan to enter talks with Philips.
For its part, Philips told Bloomberg News that it holds “frequent” discussions with “a great many” shareholders, but would not say if it had spoken with D.E. Shaw or Jana.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…


- A firefighter’s plan to save lives and employ brothers Yahoo! Small Business Advisor
- The North Star to Guide Your Startup: Core Values Entrepreneur
- What I Learned From a Two-Year IRS Audit Entrepreneur
- Customer and Market Research – Necessary but Overlooked steps for the Entrepreneur Yahoo! Small Business Advisor
I want to refinance but I'm upside down and non-FHA, so what are my options?
I owe 163K on a house currently estimated at about 125K, and slowly, very slowly increasing in value. I called my own mortgage company about a refi or modification and apparently qualify for neither. Due to some very cleverly worded phrases by the originators of the loan, my house payment is now $400 more per month than it was when I got it 3 years ago.
Although the bank says I can afford it, that won't be the case for long. I don't want to lose it and the four times that I have called to see if they will work with me, they just keep saying that I have to be behind on the payments. I don't want to mess up my credit score, so does anyone know of any other options?
You are out of options. You need to sit tight until your balance is less than the market value. If you need to, take in a renter to help you pay the mortgage.3 years ago
You can't refi without satisfying the original loan. So the only way to do that is to bring the cash to the table to make up the difference.by the kid - 3 years ago


27th Signal Processing and Communications Applications Conference (SIU), Sivas, Turkey, 24 - 26 April 2019
A persistent socio-cultural problem of mankind is "poverty", which requires accurate characterization in order to construct well designed policies for intervention. Unfortunately, the categorization along the poverty - wealthiness scale is not simply determined by applying surveys. Population is large, subjective opinions are usually biased, and available data are only indirectly related. In this paper, we attempt to identify poverty levels using feature selections from these indirect observations and machine learning techniques. In poverty assessment, similar to many other classification problems, it is crucial to know how any feature contributes to the classification of each class of poverty. We designed an approach that (1) extracts a subset of features that best characterize each poverty class, (2) examines how this subset affect the chosen class and finally (3) employ ensemble models. In this research, we adopt the Proxy Means Test (PMT) for labeling the data that was obtained from the Inter-American Development Bank of Costa Rica. Through this approach we analyze poverty classes within a multidimensional feature space perspective, contrary to the classically used single dimensional perspective defined as "living on a consumption expenditure of less than the predefined income threshold". The application and usefulness of our proposed framework is tested on the mentioned dataset using 85-15 data folding.


The sanctions have lowered Russia’s trade statistics with the West, but by the end of 2022, goods turnover with friendly countries will break all records. FCS First Vice-President Ruslan Davydov said how long it took for exporters to rebuild logistics after the restrictions were introduced, how customs are dealing with increased cargo flows at checkpoints, and whether it is necessary to wait in line at the Russia-Georgia border during the holidays. He said in an interview with RIA Novosti. Interview with Mila Kuzmich.
– As we know, 12 new lines have recently been opened in Upper Lars, one of the most famous checkpoints on the Russian border. Have the problems there been resolved now? No more queues?
“We monitor the work of all checkpoints on a daily basis. Up Lars, of course, is one of the troubled ones. At this border crossing, the reconstruction phase has not yet been completed, but entry and exit lanes for vehicles have already been introduced. They certainly help speed up the passage of vehicles. It should also be noted that there is a tunnel behind the checkpoint. If something happens in this tunnel, we can’t do anything to help.
To date, Verkhniy Lars is almost online for entry, and there is a stream of trucks, and unfortunately, there is a huge queue for the exit from the Russian side. In previous years, the queue was mainly for entry.
– What are they carrying?
– There is trade, all kinds of goods are transported from Upper Lars. In the last days of December alone, 257,000 tons of goods passed through this checkpoint. This is 65% more than in December last year. Grain, flour and cereals, wood and wood products, fuel, glass, etc. we bring And our trade continues and transit: Many goods are coming from Kazakhstan, Central Asia to Turkey, Georgia, Armenia.
– Do you see an increase in flows in both directions?
– Maybe there is not a serious surplus in entry to us, but there is a serious increase in exit. During the day, 600 or more trucks pass the exit.
– So skiers going skiing in Gudauri should take time to queue there?
– If it were possible to completely separate the flows, then of course we could talk more confidently about the passage of cars. However, this point is quite narrow and the reconstruction is not yet complete.
But at the customs in Upper Lars, the shifts have been strengthened, the inspection and inspection complexes are working. Together with the border guards, we do everything to ensure that cars cross the border as soon as possible and in accordance with all security measures. As we predict, if the truck flow decreases during the holidays, the cars will cross the border faster.
– There was a traffic jam on the Azerbaijani border this year, has the situation improved there?
– The situation at the Azerbaijan border has been corrected, all work is done online. New lines were also started to be used in Yarag-Kazmalyar, the busiest and largest checkpoint. Let’s hope next year the rebuilding, both here and in Upper Lars, will come to an end, and with it, the problems will end.
The highest loads in Upper Lars as well as in Yarag-Kazmalyar were in early November: a large number of cars are on the road and at the same time a large stream of trucks enters. At a certain moment, 3.5 thousand cars piled up there just to get in our place. The border guards and I agreed to an emergency program – we worked for two weeks to remove these queues.
Now there is no problem, we have been holding for the last two weeks: the size of the queues does not reach half of the working day, it is resolved in a few hours. And right now, on New Year’s Eve, it’s completely sub-zero.
– Will customs work non-stop on New Year’s holidays?
– We work all the time: 24 hours a day, seven days a week. Since February, an operational headquarters has been operating at FCS where we handle all current issues.
For example, on New Year’s Eve, tangerines were brought to Adler, and conversations about tails immediately began. But look how many cars we let pass: In December this year, the rate of importing tangerines from Abkhazia is one and a half times higher than last year.
This must also be taken into account, and not only is the traffic jam inevitable during such flows, the infrastructure cannot quickly bypass all the flows. In general, our turnover with friendly countries is increasing and it is significant: 50%, even 200% in some countries, good growth in the EAEU.
– And speaking of hostile countries: how much has the flow of goods with Europe decreased compared to the end of last year?
– In some EU countries, the flow of goods fell by about 50%: if about three thousand trucks came to us from Europe, now about one and a half thousand arrive, including the flow through the Belarusian border.
There are more traffic jams at the border with Belarus than here. We talked with colleagues from Belarus – it turned out that the issue is in the problematic work of the Poles and the Baltic states.
Are they doing this on purpose?
– Look, for example, what is happening in Burachki – this is a checkpoint in the Pskov region, the busiest point of the border between Russia and Europe. We are ready to let 400 cars pass through there a day, and they only let us 200 cars through, at best – 250. Usually these days, we went to zero on Catholic Christmas – there were no queues. Now the queue is about 200-300 cars. We may miss more, but they don’t.
– Where do you see more problems: in the west or east?
– On the eastern border, on the Chinese border, we see growth in all modes of transport, even compared to pre-Covid times: both at automobile checkpoints and at ports. The number of containers under customs control exceeds all historical peaks. Now the main limiter is the capacity of Trans Siberia. Customs takes care of everything else.
This year will be a record trade volume with China – an increase of up to 30%. There is a huge increase in trade volume with India, more than 2.5 times, and 20% with Iran.
– Is growth mainly driven by exports everywhere?
– Our general trade turnover is growing mainly due to exports. Overall imports fell somewhat compared to last year, of course at the expense of Europe. Presumably, the weight reduction in imports during the year will be around 15%-17%.
– What about the USA?
– More than halving with the USA. Their share in our foreign trade has now fallen below 2 percent.
– What will be the final figure for Russia’s total import and export volume this year?
“We have already left the last year behind in terms of foreign trade turnover value. We are likely to run a record trade surplus, mainly due to export volumes. Even December will not change the overall picture for energy carriers.
In general, we try to treat the statistics carefully, as the volatility of the indicators is very high this year. For example, at the beginning of the year, we would have grown very fast, we would have broken records in January-February. Then, in March-April – a sharp decline. People tend to dramatize the situation, but we understood that now the work will be restructured and the work will begin.
Stability started in May and we have seen steady growth in imports since July: a systematic, steady increase in supply of 1.5% – 2% per month. Well, we are importing quite actively at the end of the year.
– What about exports?
– Exports decreased significantly in December due to restrictions on oil, petroleum products, gas. But when a sanctions package comes into play, it’s clear that things are set in motion. It is unreasonable for the market of the same energy carriers, which is largely speculative, to remove the Russian offer – it’s like shooting yourself in the foot or right over the head.
– How long do you think it usually takes for exporters to rebuild the new logistics and restore the flow of goods?
– It’s hard to judge. We have never seen anything like this in history. The measures implemented by Western countries in the spring caused difficulties in calculation and logistics. Overall, it took about two or three months to rebuild the logistics for all types of goods.
Now we are talking about specific products: the oil group. So it’s unclear how long it will last here. But it seems to me that adaptation should be faster because oil is needed. Going east, coal too.
You can make various loud statements, but here, for example, in the USA there is a blizzard – 50 people froze in it. If the West does not pity its own people, they should continue to act as if they are not buying oil and gas from us. However, it can be assumed that ultimately our energy resources also reach there through third parties. If they haven’t suffocated Cuba with any blockade in 60 years, then it’s impossible for us to shut it down.
I am Emma Sickels, a highly experienced journalist specializing in news and economy. As an author at News Unrolled, I cover the latest trends in the economic sector and provide readers with valuable insights into its complexities. My work has been featured in various media outlets such as The New York Times, USA Today, Bloomberg Businessweek and many more.


On the Dec 4 Radiozine, Host Michelle Schroeder Fletcher interviews journalist and social chameleon Harmon Leon, who is known for infiltrating and exposing the weird and wonderful subcultures of America. His most recent book is The American Dream, based on his roadtrip to uncover the humorous and contradictory ways in which people from all walks of life define themselves in relation to their country. Leon's pursuit takes him from the pot fields of Northern California to reality T.V.
Host Eva Lake interviews the artist Katherine Ace for Art Focus on December 4th. Ace is known for making still lifes which use both paint and collage techniques. Her show, titled "Creation/chaos" will be up the entire month of December at the Froelick Gallery in the Desoto Building in NW Portland.
Can community trump economic hard times? Founders Joe & Pam Lietch, and Marilee Dea discuss NE Portland's newly formingColumbia Ecovillage. Community members plan to care for their 3+ acre "food forest," while cultivating supportive relationships with each other, the larger community and the Earth.
The United Auto Workers agreed this week to adjust their contracts with the Big Three Auto Companies.
The Union made the move to try to convince Congress that the Auto industry deserves financial aid.
But many members of Congress remained skeptical about a bailout package for the auto industry.
Senator Chris Dodd grilled executives in a hearing on Capitol Hill this afternoon, saying that the Federal Reserve could help the industry without a direct bailout package.
KBOO's Jenka Soderberg spoke with Al Benchich, an auto worker and union member from Detroit who is heading to Washington as part of a worker's caravan this weekend.
The next round of state budget cuts may be setting Oregon up for even more trouble, according to the social service groups whose clients will be seeing less money to pay for services.
From the AARP to Area Agencies on Aging, to the Service Employees International Union, they say the governor’s recommendation to cut human services by 15 percent will cost federal matching money and trim jobs, at a time when the state needs both.
KBOO’s Leah Yanoff reports, in collaboration with Oregon News Service.
This week marks the 75th anniversary of the end of Alcohol Prohibition in the U.S.
Some members of the law enforcement and legal communities are calling for the repeal of the current Prohibition on drugs.
KBOO's Jenka Soderberg has more.


More officers on the street figures to save money in long run
CRIME doesn’t pay. But it sure does cost.
The cost of adding police officers is more than offset by the reduction in the cost of crime, says the Rand Corporation in promoting a cost-of-crime calculator that public officials can use to plan for public safety needs.
Measuring the cost of crime is somewhat subjective, factoring in such intangibles as an increase in “general fear” and the diminishment of quality of life. Other costs are easier to measure...
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Jamestown pulls 999 Peachtree from the market
After only three months, Jamestown is taking its 999 Peachtree tower off the market.
Jamestown had confirmed in July that it was trying to sell the building, which occupies one of Atlanta’s best-known intersections at Peachtree and 10th. It was seeking offers for the 620,000-square-foot building at more than $160 million, or almost $260 a foot.
But, the company said it believes delaying the sale for now would allow it to achieve a higher value for the 28-story Midtown building over the next 18 to 36 months. It also sees favorable leasing conditions in Midtown’s office market and low-cost refinancing options.
Jamestown’s decision is not all that surprising, commercial real estate executives said.
Although investors have gained more confidence in Atlanta’s office market, they still have big reservations that short-term job growth can put a significant dent in vacancy rates hovering around 20 percent. It’s conceivable that Jamestown could fetch higher offers later in 2013, if the economy expands, allowing companies to grow and lease more office space.
That would help drive vacancy down and rents up.
Jamestown is already seeing improving fundamentals that, if sustained, bode well into next year. Rents are increasing and concessions are coming down, and those trends are likely to continue for the best assets in Atlanta, said Jamestown CEO Matt Bronfman.
The building’s own rent growth is also heading in the right direction, its executives said.
Jamestown’s Shak Presswala said rents on the upper floors of 999 Peachtree have increased to $29 a foot, and that continued rent growth for the overall building seems promising.
Douglas Sams covers Commercial Real Estate
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PICKERINGTON, Ohio, Nov. 30, 2011 /PRNewswire/ -- R.G. Barry Corporation (Nasdaq:DFZ) today announced that it will present to institutional investors and analysts at the 7th annual Lambert, Edwards & Associates SMID-West Investor Conference on Dec. 8 at The Palmer House Hilton in Chicago.
SMID-West 2011 is an invitation-only event that will introduce professional investors from the buy-side and sell-side to the management teams of top-performing small- and mid-cap (SMID) companies in a one-on-one and small-group meeting format. For more information regarding the conference, or for institutional investors interested in meeting with company management, please contact Brad Van Houte at (616) 233-0500 or email@example.com.
About RG Barry
RG Barry creates and markets great accessories brands and fashionable, solution-oriented products that make life better. Our primary brands include: Dearfoams slippers ( www.dearfoams.com); baggallini handbags, totes and travel accessories ( www.baggallini.com); and Foot Petals premium insoles and comfort products ( www.footpetals.com). To learn more, visit us at www.rgbarry.com.SOURCE R.G. Barry Corporation
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The European Commission has assessed the PTD in the light of the Covid-19 pandemic and found a need for re-balancing, says Rhys Griffiths, partner and head of travel at Fox Williams
The European Commission published an assessment of how the Package Travel Directive (PTD) has been implemented on March 1.
Whilst the UK is no longer a part of the EU, the report does refer to the UK in parts and will be relevant to those organisers which sell into the EU.
The report sets out a wide-ranging review of the PTD, picking up on scenarios such as the failure of Thomas Cook and the coronavirus pandemic. These scenarios illustrate how the PTD has been applied in practice and where problems have arisen.
Moreover, in what will be welcome news for many organisers, the EC has signalled a clear intention to look at rebalancing the obligations of organisers and transport providers in relation to insolvency and cancellation.
Cancellations due to the coronavirus pandemic
The report outlines the serious impact of the pandemic on the travel industry and reminds us that the PTD provides two cancellation rights in this context.
The traveller may cancel the booking and demand a full refund where a three-stage test is satisfied. The organiser also has the option of cancelling and paying a full refund where it is “prevented from performing the contract” because of the pandemic.
The report emphasises that a blanket approach cannot be taken when assessing whether these cancellation rights have arisen. Rather, the determination must be “based on a case-by-case assessment”.
In carrying out this assessment, the report reiterates that official travel advice, such as that published by the Foreign Office (FCDO) is an important indicator that these cancellation rights might have arisen, but the PTD is silent on the legal value of such advice.
This is by design because some member states were strongly opposed to the inclusion of a reference to travel advice in the PTD.
For this reason the report explains that, while the original draft of the PTD did refer to national travel advice, this was removed from the PTD during the legislative process because of objections from member states.
Rebalancing of the travel eco-system
The European Parliament has previously called upon insolvency protection to be extended to flight-only sales so that consumers are not exposed to the failure of an airline.
However, the report explains that such a failure can also affect intermediaries such as organisers because they are obliged to refund the customer if a package has to be cancelled as a consequence of an airline’s failure.
The EC recognises the regulatory gap in this regard and so proposes to analyse this issue in more detail to decide whether insolvency protection should be extended to flight-only sales.
The report also describes the unprecedented pressures suffered by organisers during the pandemic as a consequence of the cancellation and refund rights set out in the PTD.
Whilst in normal circumstances these obligations are manageable, not least because organisers can often amend the package in order to enable it to go ahead, the pandemic meant this was just not possible.
This led to significant liquidity challenges for organisers as refund obligations were significantly higher than the income received from new bookings, a challenge which the EC recognises was further complicated by some airlines stopping the automatic payment of refunds to organisers.
The EC recognises the uneven character of the market, which it says is further aggravated by the different legal regimes which apply between organisers and transport providers and their customers.
For instance, whilst travellers have powerful rights to cancel and demand a full refund from organisers, they do not have equivalent rights against transport providers even where the cancellation is due to extraordinary circumstances.
The EC intends to look at these issues in further detail, particularly at how it might achieve “a fairer sharing of the burden among economic operators along the value chain”.
To this end, the EC proposes to “assess whether the differences between the PTD and the passenger rights regulations as regards insolvency protection and cancellation rights are justified or if the rules should be more aligned and whether specific rules for situations like Covid-19 should be proposed”.
This will be good news for organisers which have long criticised the unequal burdens placed upon organisers compared with transport operators.
Insurability of risks
The report describes how events such as the failure of Thomas Cook and the coronavirus pandemic have made it increasingly difficult for organisers to find providers of insolvency protection which are willing and capable of covering the risks of failure.
There were already relatively few providers in the market, which has diminished further with the recent withdrawal of certain well-established providers. The EC recognises this and intends to look at how to address the issue.
Two ideas have already been put forward for consideration: having multiple providers of insolvency protection for a single organiser, or setting up a pan-EU guarantee fund which would provide a form of reinsurance to providers of insolvency protection.
Limitation on pre-payments
The report explains that some member states limit the pre-payments which can be taken for package holidays. This has been picked up by certain consumer organisations which have suggested the EC should only allow organisers to collect payments when travellers have received the services.
It is suggested this would help to limit the exposure of travellers and providers of insolvency protection.
It would also protect the consumer against the risk of cancellation given that there would be no need to extract a refund from the organiser.
This would obviously create a cash-flow issue for organisers, particularly if they must make pre-payments to suppliers in advance of travel. Accordingly, the EC recognises that any such limitations on pre-payments would have to be assessed within the “broader tourism eco-system”.
There are also concerns that limiting pre-payments will increase prices for customers because it will limit the opportunity for organisers to obtain discounts by making advance pre-payments to suppliers.
The EC intends to analyse the issues identified in its report in more detail. By 2022, it will report upon whether the existing regulatory framework for package travel is adequate.
This presents an opportunity for all participants in the travel eco-system to have their say, which will be particularly important for those organisations selling into the EU.
Rhys Griffiths is partner at Fox Williams