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.
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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
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By GlobalDataBritain’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.
