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South Korea Grants Kakao, KT-led Groups Online Bank Permits

2015-11-29 16:31:57| Telecom - Topix.net

South Korea gave preliminary approval for two groups -- one from the new economy and another from the old, and both with Chinese partners -- to set up the nation's first Internet-only banks as the government seeks to reinvigorate a sector suffering from slow growth and slim margins. Kakao Corp., operator of Korea's leading messaging app KakaoTalk, and KT Corp., the former government phone monopoly, were chosen from a field of three applications.

Tags: online south groups bank

 

Pennsylvania's Commonwealth Court Finds NOL Cap Unconstitutional, Grants Refund to Taxpayer

2015-11-25 10:53:08| Wireless - Topix.net

In a 52 decision, the Pennsylvania Commonwealth Court in an en banc panel has held that Pennsylvania's NOL cap violates the Uniformity Clause of the Pennsylvania Constitution, and granted the taxpayer the right to deduct its NOLs without regard to the statutory NOL cap, which resulted in a refund to Nextel.1 Reed Smith represented Nextel in this case, and we previously reported on the NOL cap issue in our October 5, 2015 Alert . For background, during the period at issue in this case , the statutory NOL cap on Pennsylvania's corporate net income tax was the greater of $3 million or 12.5% of taxable income.

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Pennsylvania's Commonwealth Court Finds NOL Cap Unconstitutional, Grants Refund to Taxpayer

2015-11-25 02:52:25| Telecom - Topix.net

In a 52 decision, the Pennsylvania Commonwealth Court in an en banc panel has held that Pennsylvania's NOL cap violates the Uniformity Clause of the Pennsylvania Constitution, and granted the taxpayer the right to deduct its NOLs without regard to the statutory NOL cap, which resulted in a refund to Nextel.1 Reed Smith represented Nextel in this case, and we previously reported on the NOL cap issue in our October 5, 2015 Alert . For background, during the period at issue in this case , the statutory NOL cap on Pennsylvania's corporate net income tax was the greater of $3 million or 12.5% of taxable income.

Tags: court cap finds refund

 

ADB grants funds for power transmission upgrades in Yangon, Myanmar

2015-11-25 01:00:00| Power Technology

The Asian Development Bank (ADB) will be providing a $80m loan to upgrade the electricity transmission ring line system in Yangon, Myanmar, to 230kV from the present 66kV capacity.

Tags: power funds transmission grants

 

NIST Project Grants to improve cybersecurity, reduce online theft.

2015-11-24 14:31:09| Industrial Newsroom - All News for Today

NIST will award ~$3.7 million for 3 pilot projects that intend to make online transactions more secure and enhance privacy for healthcare, government services, transportation, and Internet of Things (IoT). Specifically, recipients of National Strategy for Trusted Identities in Cyberspace (NSTIC) grants will pilot solutions aimed at reducing tax refund theft (MorphoTrust USA), improving security of medical information (HealthIDx), and providing secure online data storage (Galois, Inc.).

Tags: online project improve reduce

 

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