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January 1, 2010updated 12 Apr 2017 4:28pm

In brief 2

NetSol Technologies has announced it is forming a wholly-owned subsidiary in China.

By Verdict Staff

NetSol to form new company in Beijing

NetSol Technologies has announced it is forming a wholly-owned subsidiary in China. The software house forecasts that revenue from its Chinese business will contribute nearly 25 percent of total revenue in 2010, thanks to strong growth in the Chinese automotive and financial sectors.

Until now, NetSol had been operating from its representative office in Beijing.

“NetSol has grown its China business completely organically and has recently secured its ninth Chinese customer, the highest number for NetSol in any country in the APAC region,” said Najeeb Ghauri, NetSol CEO.

“A fully-owned China subsidiary further exhibits our ongoing commitment to our clients, and opens up new possibilities.”

First UK Bus chooses GreenRoad

Britain’s bus operator First UK Bus aims to reduce fuel consumption by 500 litres a year per bus with a recently introduced technology-based service by GreenRoad.

The GreenRoad system is an “automated driver coaching service” that is expected to increase safety and reduce CO2 emissions,

by identifying and correcting drivers’ unnecessary driving behaviour while it occurs, enabling them to sustain improvements over time through constant reinforcement”.

The bus operator plans to deploy GreenRoad’s service across all of its 9,000-strong fleet, involving as many as 20,000 bus drivers, once the programme is fully functioning in mid-2010.

SunGard survey focuses on new risk policies

Not all European banks are prepared to implement the Incremental Risk Charge (IRC) set by the Basel Committee, a new survey by software house SunGard has revealed.

In 2009, the Bank of International Settlements’ Basel Committee on banking supervision issued revised guidelines for the charging of capital for incremental risk on the trading book.

According to the SunGard-sponsored survey, 64 percent of respondents (executives directly responsible for IRC modeling at a number of major European banks) expect the IRC guidelines to be a major disincentive to holding risky credit assets on the trading book.

Only 10 percent are in the implementation phase for IRC, with 40 percent still at planning stage.

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