The relationship between technology and central banks should be cooperative, particularly where tech firms can address challenges like anti-money laundering and Know Your Customer processes. Smart fintech firms engage and work with central banks and regulators right from the start, in a constructive partnership, to improve existing processes and infrastructures. Bhavin Patel, head of fintech research at OMFIF, says YES. Share Opinion DEBATE: Are technology companies a threat to central banks? If a large enough fraction of the population adopted and stored value in another currency, monetary transmission pass-through via traditional channels would be affected. This would be an especially grave concern for countries with tighter capital controls. Could private digital currencies replace cash? Thursday 30 January 2020 11:24 am whatsapp City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. However, in the long term, a private digital currency is unlikely to replace cash. We will probably see the launch of a central bank-issued digital currency (as a complement to physical fiat currency) this year, countering the alternatives offered by major tech companies. Are technology companies a threat to central banks? Financial stability risk could arise through fragmentation in the monetary system from the widespread issuance of non-fungible digital currencies. In such cases, national central banks could lose control over the money supply. This would result in a severe weakening of their monetary policy-making tools. Main image credit: Getty It has been argued that so-called anarchic cryptocurrencies like bitcoin could become threats to central banks. But this would only be a risk because there is no identifiable firm behind any of these currencies that governments could shut down or regulators could control. If prominent tech firms worked with central banks, this would be less of an issue. Show Comments ▼ Tech companies are rapidly developing solutions to overcome shortfalls in the monetary system and proving flexible in tailoring their services to converge with consumer trends. Wide-scale adoption of privately-issued digital coins is growing more probable, particularly in emerging economies. Central bank autonomy would suffer, and monetary sovereignty could be threatened. Richard Brown, chief technology officer at R3, says NO. Bhavin PatelBhavin Patel is head of fintech research at OMFIF. and Richard BrownRichard Brown is chief technology officer at R3. Central banks play a vital role in safeguarding the global financial system — and technology doesn’t change that core function. At its best, it should work to enhance and improve it. whatsapp The financial services industry as a whole, including the central banks, should now look at tech firms with the same open mind that the industry took to electronification in the 2000s.
Federal Government | Public Safety | Southwest | WildlifeMeet Michael Whitney, the Delta’s new — and only — wildlife officerAugust 7, 2017 by Teresa Cotsirilos, KYUK-Behtel Share:Michael Whitney visits with local children in Kipnuk. (Photo courtesy Michael Whitney)Wildlife Officer Michael Whitney stood in front of a floor-to-ceiling map of Alaska on Friday and pointed out each of the Delta villages he works with.“We cover up there, to the coast,” he said. “Up through Scammon Bay, Hooper Bay, Kotlik … .”It took him several minutes to list all of them.Whitney is the U.S. Fish and Wildlife Service’s new, and only, law enforcement officer.You might have spotted him checking nets on the Kuskokwim this summer, or camping out in a schoolhouse in Eek before meeting with community members. Before Whitney joined the Yukon Delta National Wildlife Refuge in May, the region had gone without a federal wildlife officer for several years.Today, Whitney polices about 19 million square miles of tundra by himself –an area about the size of the state of Maine, where he grew up.“Yeah, it’s been non-stop,” Whitney said with a laugh. “It’s like drinking from the firehose.”As the Delta’s only federal enforcement officer, Whitney depends on local communities to comply with regulations on their own, or to give him a call when someone breaks the rules.He said that he feels lucky to work in western Alaska, where subsistence hunters and fishermen are so deeply connected to the land and local species.“I think it’s pretty wonderful,” Whitney said. “I think that within the U.S. Fish and Wildlife Service, I have this really cool job. We have this great duty to the subsistence-using public out here in western Alaska, and that’s really neat.”As a child in Maine, Whitney spent his summers with lobster fishermen in a small, coastal village.He said that he knows what it’s like to rely on the sea for your livelihood.For Whitney, fishing and hunting regulations are an essential part of maintaining a subsistence lifestyle.“We’re trying to preserve these species for future generations,” he said. “In the absence of regulation, you can reach a point where the survival of that particular species can become critical. And if you can’t save that species, then you’ve taken away a person’s ability to feed their family.”In addition to enforcing regulations, Whitney also plans to focus on community outreach.He said that he hopes to teach hunting education and other classes to local residents.Share this story:
Council Pinterest Facebook Charlie Flanagan on Electric Picnic: ‘I’d ask organisers to consult with community leaders’ Pinterest Twitter WhatsApp Five Laois monuments to receive almost €200,000 in government funding By Siun Lennon – 25th August 2018 Managing Director Gerard Fitzgibbon is delighted to have been associated with the projects. He said: “It was a great honour to be asked and it is nice to know that the skill level required to carry out this type of task, is the same level that we use to repair our churches.”Separately, Glasscare’s sister company, Mr Windscreen were engaged to remove the green tinted glass from a number of Skoda vehicles and replace them with clear glass. It is believed this may be to help with photography at the event.SEE ALSO – Back-to-back National League titles for St Abban’s women Community Home News Community In Pictures: Laois company join in on preparations for the Papal visit NewsCommunity Twitter TAGSPapal visit Could we see these on the next Popemobile?This weekend, Pope Francis will visit Ireland for the first time for the World Meeting of Families event. This visit comes almost forty years after Pope John Paul II came to Ireland in 1979.A Laois company, Glasscare, has been extremely busy contributing to the Papal visit.Glasscare supplier, Connon Stained Glass, was commissioned to manufacture and fit stained glass scenes depicting Irish families into a Skoda Karoq in preparation for the Pope’s visit to Ireland.A lot of hard work This installation, which features over 47 different colours of stained-glass, took over 200 hours to complete. This was a very technical and unique request. The finished product is certainly a testament to the skill and experience of the workmen involved. In Pictures: Laois company join in on preparations for the Papal visit Previous articleIn Pictures: A night of style at the Clonaslee College debsNext articleLaois woman Anna May chairs World Meeting of Families session Siun Lennonhttp://heresosiun.blogspot.ie/2016/09/the-lekkie-piccie-experience.htmlSiún Lennon joined LaoisToday in a full-time capacity after studying Journalism and New Media in the University of Limerick. She hails from Rosenallis and her interests vary from news, sports and politics. RELATED ARTICLESMORE FROM AUTHOR Facebook Community WhatsApp New Arles road opens but disquiet over who was invited to official opening
Pinterest Electric Picnic organisers release statement following confirmation of new festival date Electric Picnic By Alan Hartnett – 29th September 2020 Home Sport GAA Laois GAA cancel this year’s U-20 football and hurling championships SportGAA Pinterest TAGSLaois U-20 FCLaois U-20 HCNiall Handy News Twitter There will be no U-20 club football or hurling championships in Laois this year.The competitions would usually be getting underway in the coming weeks but Laois GAA secretary Niall Handy informed clubs that these would not take place this year.Last year, Courtwood-Emo claimed U-20 football glory and Camross won the U-20 hurling title.The CCC chose the option to cancel them altogether due to multiple potential clashes with other fixtures.According to Mr Handy, players could potentially be involved in minor county teams, U-20 hurling team and even senior hurling and football teams – as well as participating in the senior football championships semi finals when they come around.The inter-county action is due to get underway on Saturday October 18 as the Laois senior footballers face Westmeath in the league and the minor hurlers host Offaly in the championship.The U-20 hurlers begin their campaign on Wednesday October 21 at home to Carlow.While Eddie Brennan’s Laois senior hurlers start on Saturday October 24 against Dublin in the Leinster quarter final.And Mark Bates’ Laois minor footballers begin their Leinster championship campaign on Wednesday October 28.In all likelihood, the earlier the Laois senior football championships will be able to resume is at the end of November. So that doesn’t leave much of a window to play an U-20 club championship – hence this decision.Mr Handy said: “The U-20 football and hurling club championships were cancelled by the CCC.“(This is) due to number of players at these grades involved with inter county minor football and hurling, U-20 hurling and to a lesser extent senior football and hurling – also taking into account that there will also be U-20’s involved with the remaining teams in our local SFC.“It will be reviewed later in the year and on publication of 2021 inter county calendar, with a view to organising an U-21 championship in January/February/March 2021.”With games now coming down to the closing weeks, Handy also thanked clubs for their cooperation – especially during these Covid-19 times.He said: “We have another busy weekend of football and hurling championships and I would like to acknowledge all of our clubs who have successfully facilitated matches in recent weeks and were fully compliant with public health guidelines.“I would appeal for your continued efforts in this regard and which are vitally important in paving the way for the possible return of supporters in greater numbers in the weeks and months ahead.“As an organisation, we have a responsibility at every level to ensure that best practice is adhered to around our games and in the area of spectator attendance in particular.“The two most obvious challenges for us in this regard focus on social distancing in our stands and in our club grounds and the management of the post-match games and presentations, during which supporters must be kept off the pitch.”SEE ALSO – Laois County Council outline a possible re-opening date for Portlaoise Leisure CentreSEE ALSO – Check out more stories from the Laois Joint Policing Commission here Laois GAA cancel this year’s U-20 football and hurling championships WhatsApp Bizarre situation as Ben Brennan breaks up Fianna Fáil-Fine Gael arrangement to take Graiguecullen-Portarlington vice-chair role Facebook Previous articleAll the latest Laois GAA fixtures as attention switches back to footballNext articleLaois village to get new playground as Laois County Council gives green light Alan HartnettStradbally native Alan Hartnett is a graduate of Knockbeg College who has worked in the local and national media since 2008. Alan has a BA in Economics, Politics and Law and an MA in Journalism from DCU. His happiest moment was when Jody Dillon scored THAT goal in the Laois senior football final in 2016. Facebook RELATED ARTICLESMORE FROM AUTHOR Twitter Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival Electric Picnic WhatsApp
One in five Canadian investors plans to switch wealth providers: EY study Keywords Mergers and acquisitions, Wealth management, Financial planning, Robo-advisors 123RF Rudy Mezzetta “The unified CI Direct Investing brand will be consistent with the new branding strategy for CI Financial, making it clear that these platforms are part of a large, integrated asset and wealth management company,” Kurt MacAlpine, CEO of CI Financial, said in a statement.The firm said that CI Direct Investing will offer a wide range of services, including online brokerage services for DIY investors provided by Virtual Brokers, and the wealth management and financial planning services offered by WealthBar. The “hybrid” model will allow clients to access professionally managed investment portfolios and personal financial advice.“We believe that professional advice is as critical as ever and our online platforms are important complements to our traditional advisory businesses,” MacAlpine said.CI’s latest transaction is part of a wider digital transformation the firm is undertaking, which has been accelerated under MacAlpine, who took over as CEO in September, replacing Peter Anderson.CI first acquired a majority stake in WealthBar in January 2019. Three WealthBar executives — CEO Tea Nicola, CTO Chris Nicola, and CIO and CCO Neville Joanes — retained a minority stake in the company at the time. They will all remain with WealthBar now that CI has taken full control of the company.In September, CI Financial announced that its full-service advice subsidiary Assante Wealth Management would be offering its advisors and clients access to online investing platform Assante Connect, which uses WealthBar technology.In October, WealthBar Financial acquired Snap Projections Inc., a financial planning software that helps wealth professionals build customized wealth and retirement plans for clients. TD getting new head of private wealth, financial planning Toronto-based CI Financial Corp. has taken full control of digital financial planner WealthBar Financial Services Inc. and announced its plans to merge the platform with discount brokerage Virtual Brokers under the brand CI Direct Investing.CI, which already held a 75% stake in WealthBar, announced on Thursday that it had acquired the remaining 25% of the Vancouver-based online financial planning platform. WealthBar will be rebranded CI Direct Investing in the coming months, CI said, and Virtual Brokers will be rebranded when the two platforms are fully integrated. Canaccord reports record revenues, drops proposal to acquire RF Capital Related news Share this article and your comments with peers on social media Facebook LinkedIn Twitter
See More Videos Created with Raphaël 2.1.2Created with Raphaël 2.1.2 The driver may be having the time of his life but if she feels unsafe, now what? If we could, we’d save them all and never have to see our teens go into mourning for the loss of their friends. What we can do is protect as many as we can, and hope the message saves them all. There will be a headline in the coming weeks, somewhere in this country, maybe even in your community. There have been too many in the past and each one weighs heavy, stubbornly refusing to fade like so many others. A car full of young people will be out celebrating that end of school, that beginning of so much, embracing the emotion of being young and the freedom of exploring. And somewhere, something will go wrong and in the tangle of metal that is left, there will be tremendous loss. It will be because of speed, it might be because of impairment, but there will always be so many innocents affected it serves nobody to peg the blame, because it could have been any of them.It could have been any of us.So what can we do – as parents, as people who love these kids? I shudder when I think of the many times I must have had an angel on my shoulder as we careened around the backroads, seatbelts of dubious vintage as often off as on. Sometimes the lads had travellers, a beer in the cupholder I wouldn’t have sipped from but neither would I have said a word about. These were my friends and I didn’t want to look any younger than I was, didn’t want to be uncool. Yes, I was taught better, and I knew better, but there was that freedom and that bulletproof certainty that as long as I made it home by curfew, my world would be fine.It’s what every kid thinks. They think we don’t know, because who admits to their children the dumb, dangerous things they used to do? Instead, I think of the friends I lost who were doing the same things I was, except I survived and they did not. And the lesson I passed to my own sons was the nature of dumb luck, instead of the long shadow of blaming someone whose luck ran out.RELATED We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. Trending in Canada Dumb things we did (at the wheel) when we were young Trending Videos The Rolls-Royce Boat Tail may be the most expensive new car ever ‹ Previous Next › RELATED TAGSSafety and MaintenanceMaintenanceNew Vehicles COMMENTSSHARE YOUR THOUGHTS You’ve no doubt prepped your family for an emergency exit from your home in the event of fire. You’ve taught your kids to run away from strangers trying to give them a ride, you’ve taught your teens to call you if their ride gets impaired and they can’t get home.I want to you do one more thing: Give them the tools to get out of a car when the one behind the wheel is driving over his or her head.As the weather warms up, you can feel the freedom in the air. Summer teases in some days, even ahead of spring. Exam schedules loom but so does that intangible sense of possibility, not reserved for the young but surely more embraced by them. The next phase of growing up, that leaving behind of one grade for another or a new start, becomes more fraught when young drivers test their early skills with unknown territory. PlayThe Rolls-Royce Boat Tail may be the most expensive new car everPlay3 common new car problems (and how to prevent them) | Maintenance Advice | Driving.caPlayFinal 5 Minivan Contenders | Driving.caPlay2021 Volvo XC90 Recharge | Ministry of Interior Affairs | Driving.caPlayThe 2022 Ford F-150 Lightning is a new take on Canada’s fave truck | Driving.caPlayBuying a used Toyota Tundra? Check these 5 things first | Used Truck Advice | Driving.caPlayCanada’s most efficient trucks in 2021 | Driving.caPlay3 ways to make night driving safer and more comfortable | Advice | Driving.caPlayDriving into the Future: Sustainability and Innovation in tomorrow’s cars | Driving.ca virtual panelPlayThese spy shots get us an early glimpse of some future models | Driving.ca advertisement Buy It! Princess Diana’s humble little 1981 Ford Escort is up for auction An engagement gift from Prince Charles, the car is being sold by a Princess Di “superfan” Teaching teens about the real-world risks of distracted drivingNew cars are marvels of safety and technology, but every nanny system in the world can be overridden by a driver long on confidence and short on experience. Don’t rely on your car to be taking care of your kid, because every car starts and ends with the driver. Period.We’ve all been in that place. The driver shouldn’t be driving. The driver is taking chances they shouldn’t. As adults, we usually have the experience and foresight to not go along in the first place, or the strength to say something. Many adolescents haven’t developed that yet – that ability to stand up to their peers and be that person who wants to grind the fun to a halt. But I think of those headlines, and I know we haven’t successfully parented until we’ve taught them how to get out of every dangerous situation and do so in a way that preserves their sense of social standing.They don’t want to look stupid in front of their friends. Neither did I. Neither did you.Talk to your teen about the skill level of those they drive with. They’re right to not feel safe if the driver is texting or speeding or drinking or high. They’re right to recognize – and feel unsafe – when the driver is driving above their skill set, or when the car is overpowering their experience. And your kid needs to know how to stay safe.It’s hard to be the one who says stop. Not many kids can do that, and I don’t blame them. Instead, give them an auxiliary plan. Maybe they can text you something that triggers a call with an excuse to get home now. They can mention the dog or some other agreed-upon innocuous word as a warning. Let Mom and Dad be the bad guy, the party pooper. Plan in advance and walk through the scenarios, because just saying “don’t get in a car with an idiot” isn’t a plan. Things happen as kids grow up, and especially as summer sets in. Everybody wants to live in the moment, or at least be perceived as trying to. You can’t shackle your son or daughter to you for life, and you wouldn’t want to. But letting out the tether gradually means they find their way with backup from you.
Trending in Canada It’s been nearly 1,000 days since Ford first mentioned the word “Bronco” on stage at the 2017 Detroit auto show. In the interim, there has been no shortage of speculation and rumours about its shape and powertrain.Now, we finally have something concrete — in none other than the form of a race-prepped Bronco R.As a test, Bronco R will head to the mighty Baja Peninsula later this month to take on the near-1,000-mile off-road course which will challenge the production Bronco’s powertrain and architecture. See More Videos PlayThe Rolls-Royce Boat Tail may be the most expensive new car everPlay3 common new car problems (and how to prevent them) | Maintenance Advice | Driving.caPlayFinal 5 Minivan Contenders | Driving.caPlay2021 Volvo XC90 Recharge | Ministry of Interior Affairs | Driving.caPlayThe 2022 Ford F-150 Lightning is a new take on Canada’s fave truck | Driving.caPlayBuying a used Toyota Tundra? Check these 5 things first | Used Truck Advice | Driving.caPlayCanada’s most efficient trucks in 2021 | Driving.caPlay3 ways to make night driving safer and more comfortable | Advice | Driving.caPlayDriving into the Future: Sustainability and Innovation in tomorrow’s cars | Driving.ca virtual panelPlayThese spy shots get us an early glimpse of some future models | Driving.ca Beefed up for Baja, Bronco R features an independent front suspension with 14 inches of travel and a production-based five-link rear chassis design with up to 18 inches of travel. Mix in custom Fox shocks, 17-inch beadlock-capable aluminum wheels and 37-inch BFGoodrich tires and you’ve got yourself the best Blue Oval off-roader in years. Created with Raphaël 2.1.2Created with Raphaël 2.1.2 Ford Bronco R concept Ford Trending Videos advertisement We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. RELATED TAGSBroncoFordSUVNon-LuxuryNew VehiclesNon-Luxury COMMENTSSHARE YOUR THOUGHTS ‹ Previous Next › And as a tease, the Bronco R – developed by Ford Performance in collaboration with Geiser Bros Baja 1000 champ Cameron Steele – gives some major heritage-inspired design and proportion hints of what enthusiasts can expect to see when the future production Bronco makes its world premiere next spring.https://youtu.be/338h-up9vKsThe prototype’s lightweight composite body includes a clamshell hood and roof, as well as clean body panels that hearken back to the first-generation Bronco models.Baja racers are always cartoon versions of their road-going brethren, but it’s safe to say we’re looking at the general shape of the new Bronco. Your author dearly wants to see this rig parked next to a Wrangler for size comparisons.What’s under the hood? Ford isn’t directly saying, but a tweet from Ford PR rep Mike Levine spills a few beans by revealing an EcoBoost of some sort is powering the Bronco R.Is it the expected 2.3-litre inline-four? Or perhaps a version of the 3.5-litre V6 found in Raptor pickups? We’ll have to wait until Baja to find out for certain. Created with Raphaël 2.1.2Created with Raphaël 2.1.2Ford Created with Raphaël 2.1.2Created with Raphaël 2.1.2Ford Created with Raphaël 2.1.2Created with Raphaël 2.1.2Ford Bronco R conceptFord Created with Raphaël 2.1.2Created with Raphaël 2.1.2This Bronco R racer is arguably our best look yet at the reborn Ford Bronco.Ford Created with Raphaël 2.1.2Created with Raphaël 2.1.2Ford Created with Raphaël 2.1.2Created with Raphaël 2.1.2Ford Created with Raphaël 2.1.2Created with Raphaël 2.1.2Ford Created with Raphaël 2.1.2Created with Raphaël 2.1.2Ford Created with Raphaël 2.1.2Created with Raphaël 2.1.2Ford Created with Raphaël 2.1.2Created with Raphaël 2.1.2Ford Created with Raphaël 2.1.2Created with Raphaël 2.1.2Ford Created with Raphaël 2.1.2Created with Raphaël 2.1.2Ford Created with Raphaël 2.1.2Created with Raphaël 2.1.2Ford Created with Raphaël 2.1.2Created with Raphaël 2.1.2Ford The Rolls-Royce Boat Tail may be the most expensive new car ever Buy It! Princess Diana’s humble little 1981 Ford Escort is up for auction An engagement gift from Prince Charles, the car is being sold by a Princess Di “superfan” Ford says this machine was built in secret, creating a one-off build that hints at the all-new Bronco while still paying homage to the first-generation Bronco’s styling and proportions. The race prototype is built on a modified Ford T6 architecture that will provide the base for the production model.
Share Email ReddIt Linkedin Previous articleSOLD OUT: Direct to Consumer Wine Symposium 2017 Closes RegistrationNext articleLa Crema Promotes Craig McAllister to Head Winemaker Press Release Twitter Pinterest TAGSIndependent Grape Growers of the Paso Robles Area AdvertisementEducational Series for Local Grape Growers to Kick Off With Seminar on January 18PASO ROBLES, CA – The Independent Grape Growers of the Paso Robles Area (IGGPRA) has announced that it will host a series of eight seminars in 2017 for grape growers in and around San Luis Obispo County. The first of these seminars will be held on January 18. Growers who attend can receive two hours of continuing education (CE) credit.Each seminar will provide attendees with practical tips and industry knowledge from local experts. All grape growers are invited and encouraged to attend. Registration for this first seminar is free for all attendees. Future seminars in the series will be free for IGGPRA members and will cost $20 for non-members.The first seminar will include the following sessions:Advanced pruning strategies from Dan Rodrigues, President of VinaQuest LLC and lecturer in the Wine & Viticulture Department at Cal PolyA 2017 update on farm labor challenges from Tony Canizales, VP of Loss Control at DiBuduo & DeFendisA talk on cover crops for erosion control and their agronomics from Tom Hearne, cover crop expert at L.A. HearneThe seminar will be held from 1:00 p.m. – 3:30 p.m. at La Quinta Inn and Suites, 2615 Buena Vista Drive in Paso Robles.IGGPRA serves its members by providing farming resources, continued education, hands-on training seminars and networking opportunities. To RSVP for the January 18 seminar or learn more about IGGPRA, visit iggpra.com or call (805) 591-4204.About IGGPRAThe Independent Grape Growers of the Paso Robles Area (IGGPRA) is a volunteer-run organization dedicated to the advancement of superior wine grape growing in the Paso Robles American Viticultural Area. IGGPRA is committed to providing its members with farming resources, continued education, hands-on training seminars, and opportunities to network with other grape growers, buyers, vintners and vineyard suppliers. For more information, visit iggpra.com.Advertisement Facebook Home Industry News Releases IGGPRA Announces Eight-Part “Practical Grape Growing” Seminar Series for 2017Industry News ReleasesWine BusinessIGGPRA Announces Eight-Part “Practical Grape Growing” Seminar Series for 2017By Press Release – January 6, 2017 47 0
75 positive cases of Covid confirmed in North Google+ HIQA has raised concerns about Letterkenny General Hospital and has identified a number of high risks.It carried out an unannounced inspection in June and discovered poor hygiene standards in various areas.HIQA inspectors visited Letterkenny on June 18th.They found a number of areas of concern that warranted an immediate high risk finding.There was dust in many places, and some floors were not cleaned to an acceptable standard.There were also brown stains in some toilets, red stains on some patient equipment, window leaks and flaky paint.A follow up inspection found no significant improvement.Read the report hereMeanwhile Regional Health West Forum member Gerry McMonagle is calling for an investigation into the findings:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/10/gerry530.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. RELATED ARTICLESMORE FROM AUTHOR Twitter HIQA concerned about Letterkenny General Hospital identifying a number of high risks By News Highland – October 8, 2015 365 additional cases of Covid-19 in Republic Pinterest Twitter Google+ Man arrested on suspicion of drugs and criminal property offences in Derry Pinterest WhatsApp Previous articleGAA Programme – 07/10/15Next articleIrish Water will fail despite conservation grant “sweetener” – Doherty News Highland Main Evening News, Sport and Obituaries Tuesday May 25th WhatsApp Facebook Further drop in people receiving PUP in Donegal Homepage BannerNews Facebook Gardai continue to investigate Kilmacrennan fire
The rise in e-commerce volumes is posing operational challenges for air cargo carriers.At the Air Cargo China event in Shanghai last week, airline executives told The Loadstar the benefits from increased e-commerce shipments had not come without added risks.“I look at e-commerce as a great opportunity, but also something that requires time for reflection and reason, for a number of factors,” said Qatar Airways chief officer for cargo Guillaume Halleux.“In the e-commerce business, with a few exceptions, you don’t often see the usual big global names, you see mostly local forwarders and some of them do not always have a credit limit or financial establishment with us. So there is a financial risk there that we need to assess properly,” he explained.E-commerce packages pose additional security risks, Mr Halleux noted. “These channels of e-commerce are, so far, not so clear; you’ve got a lot of co-loading, meaning that when we receive e-commerce cargo it has gone through a number of third-parties before it reaches us and that calls for very thorough security screening.”He said another challenge arose from yield optimisation, because “technically you may lose up to 30% in terms of revenue per pallet due to the density of the bags”.He explained: “This is similar to mail; basically it’s very bulky and volumetric, so the face value of e-commerce might be attractive in terms of dollars per kilo, but the revenue per cubic metre on the aircraft – once you do the math – might not be that great.“So, everybody gets very excited about e-commerce but I keep telling my organisation ‘let’s be very cautious, we don’t want to do e-commerce for the sake of being trendy, you do it if it makes business sense’.“We’ve now started to decline some e-commerce offers out of certain places in Asia because, after thorough consideration, it doesn’t always make sense,” Mr Halleux added.According to Adrien Thominet, chief executive of general sales and services agent ECS Group, e-commerce optimisation is a major challenge for larger carriers.“E-commerce is good for low-cost carriers and small size narrow-bodies, it works, but for the big carriers with wide-bellies used to selling full pallets, it becomes an issue. And this is where the technology needs to change, because previously you were handling one hundred parcels in one shipment and now you have to handle one hundred shipments.”For Swiss WorldCargo, which operates only passenger aircraft, the key to e-commerce is to provide value-added services in order to maximise revenue.Head of business development Andrés Perez said Swiss had traditionally carried mail for China Post,which had transitioned to e-commerce packages in recent years. As a result, the airline is working with technology and last mile delivery partners to help forwarders with cross-border solutions, allowing it to provide last-mile deliveries, payments, labelling and tracking services.Freighter airline Cargolux is taking a different approach. Chief executive Richard Forson said the carrier would continue transporting goods in bulk to distribution centres.“E-commerce is not a panacea in that you’re going to get premium rates like the integrators, because we don’t offer those door-to-door services.“For example, within China there’s a booming market with few restrictions, but cross-border e-commerce becomes a challenge in terms of customs and VAT issues.“So am I going to be another UPS or FedEx? No, that’s not my business at the end of the day.” By Sam Whelan in Shanghai 24/05/2018