Australian Business News and Times

Business News ,Reports and Times of Australia

2012

India gets warnings on chinese telecom firms Huawei and ZTE

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Indian Research body C-DoT has dialled and informed the  telecom department to bar Chinese network vendors Huawei and ZTE from bidding and putting in tenders  in the communication ministry’s Rs 20,000-crore broadband venture involving the roll out of a national optic fibre network (NOFN) that will take high-speed internet  in India to new levels.

Huawei, ZTE Security warning in India for  optic fibre bidding


A top research wing of the government has raised concern over two Chinese companies, primarily engaged in telecommunications equipment and services in the country
 Ref: http://www.timesnow.tv/

The research body, in an internal note or memo  to the Indian  telecom secretary R Chandrasekhar, says India must keep Chinese telecom networks –  Huawei and ZTE out of sensitive government projects in the aftermath of a recent US congressional report that warned both Chinese gear-makers pose a security threat to telecom networks worldwide.

The Indian  agency C-DoT has urged DoT to allow 100% domestic sourcing of GPON gear for the NOFN venture by tweaking preferential market access (PMA) norms, in light of “a 22% cost disadvantage for electronics manufactured in India compared to imports”.

 What is National Optical Fibre Network ( NOFN)

  •  Project to be implemented by NOFN‐SPV namely Bharat
  • Broadband Network Ltd (BBNL).
  •  Govt. of India to fund the project through the Universal Service
  • Obligation Fund (USOF). Rs. 20,000 Cr.($4B)
  • Suitable Tri‐partite MoU to be signed by GOI, State Govt & BBNL

Lifetime Learning Credit for 2012, 2013 – US

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It’s obvious that paying for school, either through a student loan or out of pocket, is going to be expensive for you or your family. There are actually two credits available for this year that can help you get some of that money back, rather than sending more money to the IRS.

student loan china Hecs Help SFSS australia

These credits are the American opportunity credit and the lifetime learning credit. In this article, we’ll talk about the lifetime learning credit, including who qualifies for it and how much it’s for, so if you’re in an institutions of higher education, make sure you’re paying attention.

Overview

The lifetime learning credit is a credit of up to $2,000 which is available to all eligible students. The best benefit of this credit is that there is no limit on how many years in a row a student can claim the credit, as long as they’re in school at the time.

The amount of your credit is usually controlled by how much income you have and the amount of taxes that you own. The credit is based on any education fees that you pay for yourself, your spouse or your dependent. You must have begun your enrollment in the beginning of 2012 or have been enrolled in higher education for the first three months of the year.

Limits

If you’re married and filing jointly, the income limit to qualify for this credit is $122,000. If you’re single, then your maximum income is $61,000. You must be attending at least one college course during the year to file for the credit. You cannot claim this credit if you are married, but filing separately.

Degree

This tax credit applies to anyone who is attending an institute of higher education. You do not need to be perusing a specific degree or have a concentration in a selected area to be eligible.

Residency

You must have been a legal resident of the United States for the entire year of 2012. If you were not a legal resident of the US for any part of the 2012 year, then you cannot qualify for the credit.

The lifetime learning credit may have some new changes as tax laws so often do. Any new changes can be found here,

Getting the right Business Insurance

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Insuring your business may seem like a no-brainer but for many people, just staying on the right side of the ledger books is more of a concern than insurance. However, not getting the right insurance for your business could leave you out in the cold if something were to happen, and unfortunately, bad things do happen.

small business insurance australia

Is Business Insurance a priority

Many people think about business insurance as a big lump sum that gets taken from their bank account every month, but business insurance is different. Not only are there many different types of business insurance, but these types can also be tailor-made by insurers to suit your business. If you own a retail store for example, you may need to insure the building you operate from and the contents of your business. If a fire was to occur and you were left without any stock to sell you would have to go out of business.

On the other side of that coin, anyone who has a service to offer won’t need this kind of insurance. They may need malpractice insurance and public liability insurance to ensure that if they are sued by a client or customer, they will be covered for legal fees.

Comprehensive or Partial insurance

Comprehensive business insurance is an attainable goal, but not everyone needs this kind of insurance. Why bother with comprehensive insurance if you don’t have any vehicles that need to be insured, for example? A company that does make use of a fleet of vehicles would need very different insurance to a woman selling cupcakes out of her home kitchen. It all depends on various factors, such as what your business or service is about, how much money you make a year and what type of product you sell.

Many people see the sense in getting public liability insurance if they have a service to offer. If you were to operate a gym for example and someone broke a leg on your property, you would need insurance to cover their medical costs. If you are selling products however, and your geyser bursts, damaging your products, you would need product insurance.

The best way to get the right business coverage for your business is to contact a professional who will be able to take you through the various forms of insurance and how they could potentially aid your business. Remember that for business professionals, not having any insurance should never be an option. It is just too risky.

10 Ways for E-commerce businesses to Improve their Landing Pages

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It is highly important to create a perfect landing page as it has the potential of making the biggest pleasant difference. After all, a highly sophisticated landing page has the potential of bagging immense business like never before.

10 Traits of effective landing pages

Following are the 10 Traits of effective landing pages

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  1. Simplicity

In order to attract customers, people “over do” their landing pages as they forget that the best way is to make the pages as simple and clean as it is possible. Links should only be kept wherever necessary and pop ups should be avoided to the core. Content equally need to be easy so that it is understood by every one. In this way, a visitor can realize the things which are being offered along with the ways to get them as well

  1. Provide fast search feature

Many businesses fail owing to the fact that in spite of giving all the details about the product they are not able to provide strong, reliable and fast search feature. It is necessary since customers want to search and check other products as well.

  1. Trustworthiness

Scams are every where, hence you need to go overboard in order to make every body realize that your company is trust worthy. Testimonials are one such way to build trust followed by getting security certificates along with badges from companies like Better Business Bureau and Verisign work wonders too.

  1. Clear and concise Goal

A person should have a vision for his landing page as each and every single page should motivate readers towards accomplishing their goals. A visitor should not be in any sort of doubt or else they will move on some where else leaving you remorseful.

  1. Be creative

Language such as “Place your order” and “Buy now” are extremely effective. Hence, it is important to be creative and innovative to bag business manifolds.

  1. Necessary Content above the Fold

As visitors arrive on landing page, they need to get complete information quickly. They should not have to scroll down or search here and there. They expect immediate information without any delay.

  1. Ongoing Testing

The landing page should be sophisticatedly tested. Every thing from color, size or font should be done in the best way.

  1. Attractive action buttons

No matter whatever colors you select for headlines and text, action buttons need to look different. For example, if your text is in black, let them be in green, maroon or bright orange.

  1. Social proofs

This is an age of social media hence placing a running tweet window will certainly do wonders. It is also advisable to use widget as well in order to invite continuous Facebook likes too.

  1. Enhance user experience

It is important to examine your transactional processes in order to give enriching and everlasting time for customers who happen to visit. If you come across any sort of issues about problems in processing payment or slowdown in information, then try to fix it without any delay.

Finally, aforesaid are the 10 Traits of effective landing pages. These traits will surely make a pleasant difference in your life.

Has The Mining Boom in Western Australia Reached Its Peak?

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The mining boom has seen an influx of people move to WA and Perth. What was once a big country town is now a city in its own right. Many families have based themselves in Perth, and fly in and fly out to the mines. It offers an attractive salary and many workers in the mines in WA are paid well above minimum wage. Some miners on the remote gas and oil rigs can earn up to $200,000 a year. Administrators and drivers can earn $100,000. The draw of high salaries has attracted many people to WA, but is the market now saturated?

mining trucks and boom in australia

Mining boom and Jobs

There have been many newspapers speculating that the mining boom has reached its peak and will be over in two years. BHP and Xstrata PLC, two of Australia’s biggest coal exporters, cut 900 jobs in September. BHP closed its Norwich Park mine this year which saw 1,400 employees affected.

Others argue that the demand for iron ore and coal will continue. China is one of Australia’s biggest imports and they are still developing. Many people do not have cars and washing machines and they will still be in need of Australia’s raw materials. To obtain these minerals there is a constant need of equipment such as tools, diesel generators and trucks for the mines to operate.

Those who do not work in the mines are still affected by the boom. The higher wages from the mines has led to increased prices for basic goods. Household bills have increased the cost of rent and for those looking to get on the property ladder, it is nearly impossible with a normal salary. Those living in Port Headland are having to move out as they can no longer afford buy when the median house price has nearly doubled in the past four years. Closer to Perth, house prices are also very expensive. For those who want to live near Cottesloe Beach for example, it will be hard to find a house for less than $500,000. Coming up for a deposit for this type of house means many of the young local residents have to move away from the community have grew up with to an area with more affordable housing.

Australia’s economy depends on mining, one of the reasons why it has managed to ride through the Global Financial Crisis (GFC) which has affected Europe and the United States. Australia is the largest exporter of iron ore and second largest of thermal coal in the world. Although mining has experienced a boom in recent years, it is unrealistic to assume it can continue to grow at such a fast rate, although it will still play a big part of Australia’s economy. While this sector is performing well, the government should be investing in other areas to ensure there is plenty to keep the economy afloat, should the mining industry flatten out.

Article posted by guest author  “Robin Sharman”

The future of Mobile phones is slim

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Slim n Trim i might say , looking at this Nokia concept phone,  the phone trend is again coming back into the right track with “small is beautiful”

This slim Nokia 888 *** futuristic concept model  can surely be small when its all  wrapped up.

Nokia’s Next generation Concept phone

Nokia's next generation concept phone 

 

We will just have to wait for its release !!

new cell phones are OLED screen nokia 888

Concept mobile phone releases

Other than  this sleek model above there has been exciting new launches recently with other concept phones that are amazing and  still in concept mode like the  Kambala ear phone, Kyocera’s Flexible, Folding Phone Concept , LG Flutter Concept Phone and NEC’s “Tag” Phone Concept

The 10 Most Dumbest Things to Do If You’re Deep in Debt

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It is quite easy to get into debt. However, what matters the most is getting out of debt as soon as you can. However, many people are not aware of how to avoid mistakes that could lead them to more debt. If you are deep in debt, it is essential for you to take things seriously. Failure to do so can result in additional debt problems.

deep in debt

Solutions for Debt Reduction

If you want to get debt-free, always remember to avoid the following dumbest things in terms of debt problems:

1. Spending a Lot

It is surprising to know about those people who are deep in credit card debt but still do not care about spending more on things they actually do not need. If you are one of them, it means that you should stop your shopping addiction so that you can get rid of the debt burden.

2. Using Your Home Loan to Get Rid Of Other Debts

Poor money managers think that there home equity loan can be best served for the purpose of paying off other debts. However, they have no idea how this can put them in bigger debt. Using home loans to pay other debts simply means that you will have to pay more in the future.

3. Borrowing Money from Relatives

People in desperate need of cash often borrow money from family members and other relatives because they think that this is the only solution left. However, this is the worst thing you can consider while paying off your debt as paying this loan on time is an obligation for you.

4. Ignoring How Debt Is Giving You Warning Signs

Some people living in debt manage to make ends meet if they are paying their minimum payments on time. However, this can still be risky because you never know when you are required to pay a lot. Secondly, many people ignore the warning signs of living in debt.

5. Relying On Credit Counselors That Want More Money

When you search for credit counselors, you will find many. However, some will demand high fees and promise to help you get debt free. They will hardly meet your expectations. Therefore, relaying entirely on credit counselors should not be done.

6. Not Making a Budget

It is a common phenomenon that most people spend money without making a budget. This should especially be done if you are in debt. Those who do not follow an organized form of managing money end up getting more debt problems. Therefore, you should always make a budget.

7. Considering Loans with High-Interest Rate to Pay Off Previous Debt

If you have debt and you want to pay it off, getting into more debt is not the right solution. This is because you will have to pay a higher interest rate for the loan youjust took so that you can pay off your previous debt.

8. Declaring Bankruptcy

Declaring bankruptcy can affect your financial stability in the Short term. This Solution should not be taken specially if you intend to start a business soon again or just as a solution to get debt-free. It is always recommended to  consider bankruptcy  as a last option. If debt settlement works for you, then prefer it over declaring bankruptcy.

9. Using Your 401k

If you have already taken a lot of debt, and you plan to use your 401k for further expenses, then it is quite an ineffective decision. You never know when you really need for 401k. So, it is always better to save this amount of money for your retirement.

10. Buying a Car on Lease

If you are already stuck with your home equity loans and you want to buy a car, leasing is the worst option you can ever think of. When you calculate your overall payments, you will realize that you have spent a lot of money on its payments as compared to its actual value.

If you think that you the above mentioned warning signs are interfering in your life, then this indicates that you should avoid them as much as you can. Rather than using these ineffective ways to manage your money, it is better to look for debt consolidation solutions.

Author’s Bio

Angelina is  a financial expert in debt management solutions. She likes to help her readers get rid of debt and for that she recommends Consolidated Credit’s debt settlement companies page which is worth reading www.consolidatedcredit.org/personal-finances/life-events/debt-settlement/.

Bank profit reporting season 2012 –Figures

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The big four banks commonwealth bank, Westpac, ANZ and NAB have got a collective annual profit of $22.8 billion

Last year the combined net profit for all four banks were $24 billion, so there was slight drop in profit  this year.

rate cut australia

2012 bank profits Australia

 

Westpac – Full year net profit  $5.97 billion

Commonwealth bank – $7.09 billion net profit

NAB – Full year net profit $4.08 billion

ANZ – $5.66 billion profit

Pacmeakers at risk–Breakpoint 2012

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It could seem like a scene from a movie , a shady looking guy is working hard on his laptop in a busy city area , suddenly people start falling dead to the ground, clutching their chests.

Such a incident can now actually be a reality,  a person with some computer knowledge can easily cause harm to a person and security security researchers are raising the alarm about the security of implanted medical devices.

australian security conference

Speakers at the security conference – Pic ref http://www.ruxconbreakpoint.com/

At  a security conference in Australia (Breakpoint security conference) in Melbourne last month, Mr Jack demonstrated how he was able to deliver a deadly 830-volt jolt to a pacemaker by logging into it remotely after hacking it, but did not reveal which models were vulnerable, a standard practice for ethical hackers, known as "white hats".

M.Jack who also did a demo of how a ATM machine  can be hacked to give out money  at alas vegas conference  demonstrated how he was able to deliver a deadly 830-volt jolt to a pacemaker by logging into it remotely after hacking it, but did not reveal which models were vulnerable.

You can access their online security research papers here.

The internet security conference Breakpoint was held on the 17th and 18th of October 2012 at the Intercontinental Rialto in Melbourne, Australia.

Trademark Registration Faq & Essentials

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Calling All Entrepreneurs: Everything You Need to Know About Registering Your Australian Trade Mark in the United States

 

As a U.S.-based trade mark attorney at Gerben Law Firm PLLC, I frequently receive inquiries from our Australian clients seeking to register their trade marks in the United States. Here are some answers to our most commonly asked questions.

trademark australia patents

Registering Australian trademarks in US

1. My trade mark is already registered in Australia. Does this registration protect my trade mark in the U.S.?

It is important to note that your Australian trade mark rights do not apply in the United States. Therefore, if you plan to expand your sales into the U.S. in the future, you should file for a trade mark registration in the U.S. to make sure your rights are protected.

2. What are the benefits of applying for a U.S. trade mark?

In today’s expanding global marketplace, it may be foreseeable for you to expand your market to sell in the U.S. in the future. It is vital to protect your trade mark in the U.S. if you intend to sell your goods or services in the U.S. By registering your trademark in the U.S., you will have legally enforceable rights in the event that someone else starts using your trade mark in the United States.

3. Do I need to have a business in the U.S. in order to register my trade mark in the United States?

No, you do not need to have a registered business entity in the United States to apply for a trade mark registration in the United States. An Australian citizen, or an Australian company, can own a United States trademark.

4. Why is conducting a US trademark search important?

 

A trademark attorney should always be hired to conduct a complete federal, state and common law trademark search in the United States before a trademark filing is made. An attorney’s search (with specialized software) can spot potential conflicts with your trademark before you file it. Using software available on-line to conduct a trademark search is often misleading and the results should not be trusted. In addition, a US trademark attorney should conduct a state and common law trademark search. These searches can spot a problem that could lead to a lawsuit for you in the future (these are unique rights that are possible outside the federal system under U.S. trademark law).

5. How long does it take to register a trademark in the United States.

After your attorney has conducted a search for you, he or she can assist you in filing your trade mark application with the U.S. government. Once the U.S. government receives your trademark application an attorney for United States Patent and Trademark Office will review your mark to ensure that it does not conflict with a pre-existing trademark and complies with all applicable rules and statutes. It typically takes 6-8 months for the U.S. government to review your trade mark and issue a registration certificate.