Chinese brand Qiaodan files countersuit against Michael Jordan

first_imgLeBron James scores 31 points, Lakers beat Rockets View comments OSG plea to revoke ABS-CBN franchise ‘a duplicitous move’ – Lacson Sports Related Videospowered by AdSparcRead Next End of his agony? SC rules in favor of Espinosa, orders promoter heirs to pay boxing legend Cruz, Standhardinger apologize to team; Chot says incident ‘no big deal’ Trending Articles PLAY LIST 00:50Trending Articles00:40Trending Articles00:50Trending Articles01:40Filipinos turn Taal Volcano ash, plastic trash into bricks01:32Taal Volcano watch: Island fissures steaming, lake water receding02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite McGregor blasts Cerrone in 40 seconds in UFC return MOST READ However, Qiaodan, pronounced “chee-ow dahn”—which is Jordan’s name in Chinese—is now countersuing the retired basketball legend for infringement of reputation.According to China News Service, the company is demanding 1.1 million yuan (almost P7.5 million) in compensation for the supposed “malicious slander” brought upon by Jordan’s case.FEATURED STORIESSPORTSEnd of his agony? SC rules in favor of Espinosa, orders promoter heirs to pay boxing legendSPORTSRedemption is sweet for Ginebra, Scottie ThompsonSPORTSMayweather beats Pacquiao, Canelo for ‘Fighter of the Decade’Jordan was adamant that the products were fooling Chinese customers thinking he was affiliated with the brand. Qiaodan argues that such accusations brought down the company’s reputation and social devaluation.The company’s lawyer, Chen Ruojian, said the settlement money is merely a temporary symbolic amount and the company is open to other means of compensation. ‘I’m out!’: PewDiePie releases last video before taking break from YouTube Indian national gunned down in Camarines Sur LATEST STORIES “We may change amount depending on our assessment of the letter’s impact,” he said. “Qiaodan Sports has had to undertake much effort to maintain its business relationship with its partners after Jordan and his lawyers made this attack.”As of this writing, Jordan and his legal representatives have yet to respond to the lawsuit.  Khristian Ibarrola /ra 787 earthquakes recorded in 24 hours due to restive Taal Volcano Marcosian mode: Duterte threatens to arrest water execs ‘one night’ Kawhi Leonard, Clippers rally to beat Pelicans Don’t miss out on the latest news and information. Former NBA star Michael Jordan. AP FILE PHOTOLooks like Michael Jordan’s woes against Chinese brand Qiaodan Sports is far from over.The NBA icon won his trademark lawsuit case against the China-based sporting goods brand last year, for using his name and Jordan brand trademark number in their products.ADVERTISEMENTlast_img read more

Mobile Money without borders Remittance growing big in the ecosystem

first_imgTO GO WITH Lifestyle-IT-India-business-village FEATURE by Ammu KannampillyIn a picture taken on November 18, 2010 a neigbhourhood shopkeeper writes down transaction details after transferring money for customers using text commands on a mobile phone in New Delhi. India’s hunger for new technology is as sharp in its countless small villages as in its shiny office towers or shopping malls — and businesses are waking up to an area of massive potential growth. Specific designs being aimed at Indian villagers include a mobile phone cash-transfer system, robust low-energy refrigerators and a clever twist on the humble kitchen stove. AFP PHOTO/Manpreet ROMANA (Photo credit should read MANPREET ROMANA/AFP/Getty Images) Advertisement The mobile money industry continues to grow globally, with more than 270 live mobile money services in 93 countries. In Uganda, the amount of money transacted through mobile money by December 2015 was UGx. 32.5 trillion according to the Bank of Uganda.This growth however is not the same for mobile money use cases. According to GSMA Intelligence reports, mobile money usage continues to be dominated by two use cases: person-to-person (P2P) transfers and airtime top-ups. Mobile money providers are exploring new models and products – such as account-to-account (A2A) interoperability, international remittances, merchant payments, salary disbursements and government-to-person (G2P) transfers – but the volumes and values of these represent only a minority of overall transactions.International Remittances and Mobile Money – Advertisement – International remittances are a major and stable source of income for people in many developing markets with mobile money as both the sending and the receiving channel.In Uganda, WorldRemit recently partnered with MTN to enable users all over the world to send international remittances to MTN’s Mobile Money customers. Same in Rwanda. Remit Uganda (https://useremit.com/about_us) also aims to make it easy for users to make real time money transfers from debit or credit card to mobile-money from all over the world to registered mobile-money users in Uganda, Kenya and Rwanda.According to the 2015 Mobile Money – International Remittances Report, one in seven Africans (approx. 120 million) receives remittances from friends and family abroad, representing USD 60 billion and as much as a third of total GDP2 in some African markets. Although ‘North-South’ remittance flows are the largest, one in three remittances are sent from within Africa.On a low note however – Africans pay the highest transaction fees in the world: the cost of sending money to Africa reaches 12.4% of the face value of the transaction on average—much higher than the global average of 8.6%. The World Bank has also found that the 10 most expensive remittance corridors in the world are all intra-African, and estimates that if remittance fees across Africa were brought down to 5% (the average rate for G8 countries), USD 4 billion could be put back into the hands of Africans.The Cost of Sending Remittances December 2015 Data. Credit: World BankThis sector of the industry still has some major challenges and needs to be disrupted, however, according to industry experts;“We already know that the region is receiving $3+ billion in remittances. What most people don’t know is that a respectable chunk of that is cross border, within the EAC itself! We hear that sending money to Africa from EU and America is one of the most expensive financial corridors in the world. What’s less discussed is the even more expenses crossborder remittance corridor in the region.” TMS Ruge, Remit Uganda.“We can’t solve that by begging incubated players in the field – Western Union, MoneyGram – to reduce their fees. You have to force innovate. But that gets complicated with telecom’s walled gardens and geopolitical borders and national interest. We truly won’t see a sea change until we can achieve true interoperability across networks and across borders and markets. The key is to be ready when that happens.” He added.The Cost of Using Different Channels to Send MoneyThe World Bank findings put the cost of sending money through a post office as the least expensive, while going through a commercial bank is still the most costly. Post offices’ remittance charges are at 5.88% as of 2015 while using banks to send money is the most expensive at 11.12%.The benefits to the customer of using their mobile money account for international remittances:Reduced cost of transacting: Mobile money transactions tend to be competitively priced compared to the alternatives.Easy access to agent outlets: A large agent network, established for a domestic service, makes it much more convenient for senders to put cash into, or recipients to withdraw cash from, their mobile money accounts.Fast, simple transactions: It is relatively fast and easy to send or receive money via mobile.Secure transactions: mobile money services are safer than informal means of money transfer.Reduced reliance on cash with its associated risks.Credit: GSMA Intelligence Reports, World Bank Reportlast_img read more