There is a startup company in Malaysia that introduced an app that can convert unwanted loose change into something more useful. It is an app that converts leftover foreign currency change into eGift cards and vouchers that one can use to shop online. It is a dilemma for every traveler, may it for business or leisure, travelers often find themselves in the airport stuck with foreign currency, specfically, coins that can’t be reused back home. These coins are either used to buy unwanted items at the airport, or be taken back home where it will be eventually forgotten in a jar or drawer, or be a part of a travel memorabilia.
Taylor Rosenthal is not a typical 14-year old teenager. He is the founder of RecMed, a startup company behind the ingenious idea of a vending machine that dispense first aid kits-which he also invented. This schoolboy from Alabama just turned down a $30M offer from a "large healthcare company to acquire his company. Taylor had an epiphany and came up with the first aid kit vending machine idea after he witnessed his friends struggle to find first aid kits that deal with cuts, blisters and sunburns during baseball tournaments. Every time I’d travel for a baseball tournament in Alabama, I’d notice that kids would get hurt and parents couldn’t find a band aid. I wanted to solve that.”Rosenthal told CNN Money on an earlier report.
IPO consumer technology company Xurpas reported 16% rise in net profit albeit behind targeted revenue growth rate due to incurred costs in expansion plans. Xurpas claims to be the largest consumer tech company listed in South East Asia. They provide a complete roster of products and services from mobile games, messaging, web and application development, enterprises solutions, systems architecture and HR Services technology platforms. The company made its IPO debut last December 2014 with a market capitalization of over Php 20 billion. The firm reported a net profit of P68.49 million this quarter from P59.21 million last year. They cited dampened earnings due to expansions and organizational improvements that began last year.
Manila, Philippines- Starting July 1, Development Bank of the Philippines’ Gil Buenaventura will officially replace RCBC’s Lorenzo Tan as its new president and CEO. The latter was involved, and later on cleared from $81 million Bank of Bangladesh fund heist. Tan tendered his resignation last May 5, 2016. The board of directors of RCBC tapped DBP’s chief and made the announcement official last Monday. The incoming president and chief executive officer of RCBC is a well-respected veteran banker. “ Buenaventura brings with him a wealth of experience in universal banking and large operations that is critical to RCBC’s full growth.” said RCBC in an official statement.
An Australian tech entrepreneur named Craig Wright has identified himself as the elusive Satoshi Nakamoto, the supposed creator of the controversial digital currency bitcoin. Bitcoin is the world’s most commonly used virtual currency . It has interested a number of key industries, including banks and even criminals. Bitcoin is currently embroiled in a bitter row among its software developers which puts a threat on its future. Bitcoin is said to be worth $ 7 billion at current levels. Wright, who is now based in London, had an interview with the BBC. “ I was the main part of it, other people helped me. Some people will believe, some people won’t.
Manila, Philippines: The Department of Science and Technology, alongside software giant Intel Philippines, and the Philippine Software Industry Association launched its latest startup challenge for Filipino college students. The 2016 Philippine Startup Challenge is now on its third year and the focal point of this year’s challenge is the integration of a new track- IoT. Internet of Things is refers to any physical object— may it be gadgets, devices, structures, vehicles and more embedded with software and electronics allowing it to exchange and collect data. It has been noted that the first two startup challenges were focused on software development.
In a recent press statement released by the Bureau of Internal Revenue, starting April 1, the payment of Annual Income Taxes by individuals earning purely compensation income ( BIR Form 1700) and by self-employed, professionals, estates and trusts ( BIR Form 1701) may now be made thru the M-Payment system. This landmark development in the Bureau’s payment system is an offshoot of the previously launched mobile business registration and renewal system. The M-payment system was conceptualized by BIR in partnership with the Land Bank of the Philippines and Globe Telecommunications.
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