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Indian Financial Sector

MPs, state legislatures, or local bodies such as municipal corporations cannot be on the boards of public sector banks. Also, partners of chartered accountancy firms engaged as statutory central auditors at any PSB cannot join the boards of these banks, RBI said in an updated circular on fit and proper criteria in PSBs.
-Economic Times
The RBI clarified that banks and NBFCs cannot impose foreclosure charges / pre-payment penalties on any floating rate term loan sanctioned, for purposes other than business, to individual borrowers with or without co-obligant(s). The RBI has done away with foreclosure charges /pre-payment penalties on all floating rate term loans sanctioned to individual borrowers with effect from May 7, 2014.
-Business Line
IMPS is gaining traction and the number of transactions rose to 19 crores in July even as the transaction value for UPI and the Centre’s flagship digital payment app BHIM continued to decline for the second straight month. According to data released by the NPCI, IMPS hit a record high in July in terms of value, too. As many as 18.92 crore transactions amounting to over ₹1.82-lakh crore were conducted through IMPS in July against 17.13 crore transactions worth over ₹1.73-lakh crore in June.
-Business Line
Clearcorp Dealing Systems India Ltd (Clearcorp), a wholly owned subsidiary of Clearing Corporation of India Ltd, will launch its forex trading platform, FX-Retail, for the customers of banks on Aug 5. The FX-Retail platform will provide an anonymous and order driven dealing in US Dollar (USD) / Indian Rupee (INR) currency pair for bank customers -- individuals, sole proprietorship firms, partnership firms and corporates, Clearcorp said in a statement.
-Business Line
Corporation Bank registered a net profit of ₹103.27 crore in the first quarter of 2019-20 as against a profit of ₹84.96 crore in the corresponding period of the previous fiscal, recording a growth of 21.55%.
-Business Line
SBI today said the RBI has imposed a penalty of Rs 50 lakh on it for non-compliance relating to reporting of frauds.
-Economic Times
Oriental Bank of Commerce & Punjab National Bank today said the RBI has imposed a penalty of Rs 50 lakhs on them for non-compliance relating to reporting of frauds in the Kingfisher Airlines account.
-Economic Times
Bandhan Bank would open 187 new branches by the end of the current FY, taking the total number to 1,187, a top official said today. The bank would also open 340 doorstep service centres by 2019-20, MD & CEO Chandra Sekhar Ghosh said.
-Economic Times
Punjab & Sind Bank said it has declared NPA account Fairdeal Supplies Ltd as a fraud and has reported the matter to the RBI, it said in a regulatory filing.
-Economic Times
LIC Housing Finance reported an 8% increase in standalone net profit at ₹611 crore in the first quarter (Q1FY20) against ₹568 crore in the year-ago period.
-Business Line
Former RBI Governor Duvvuri Subbarao on Friday said that any government trying to “raid” the balance sheet of a central bank can be seen as a desperate move.
-Business Line
A spate of reforms undertaken by the Government has led to the current slowdown in the country, Amitabh Kant, the CEO of policy think-tank NITI Aayog, said. This came as a note of caution from the senior official as he was advocating a series of policy decisions to revive the economy.
-The Hindu
The country's forex reserves decreased by $727 million to $429.649 billion for the week ended July 26, led by a decline in foreign currency assets, RBI data showed on Friday.
-Moneycontrol.com
As the Rajya Sabha passed the Code on Wages, 12 Central Trade Unions, except the BMS, held protest across the country demanding the Centre to withdraw the proposed Labour Codes. Terming the 4 proposed codes anti-labour, the trade unions alleged that the Bills are being passed without any tripartite negotiations with trade unions, chambers of commerce and the Governments. They alleged that there is a conspiracy to take away the right to work for 8 hours and give the power to the State governments and the Centre to set working hours.
-Business Line
 -#030819 
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Indian Financial Sector

In a bid to deal with stress in NBFC sector, guidelines will be issued soon for PSBs to take over pooled assets of NBFCs, a finance ministry official said. "Both Department of Economic Affairs, and Financial Services are in consultation. The eligibility norms for takeover should be out this week or latest by next week," the official said.
The RBI will come out with a mobile application to help visually challenged people in identifying currency notes. The RBI said that identification of banknote denomination is key to successful completion of cash-based transactions by visually impaired persons.
-Business Line
SBI Payment Services Pvt Ltd (SBIPSPL) is planning to double the number of point-of-sale (PoS) units deployed by it to 1.2 million by 2021- 22 (FY 22). This is part of the Co’s strategy to be a key player in the Centre’s ambitious plan to increase the number of PoS terminals across the country.
-Business Standard
Led by LIC, life insurers’ collective new premium income jumped 94% to ₹32,241.33 crore in June this year, according to data from IRDAI. All the 24 life insurers had written new gross premium of ₹16,611.57 in the same month a year ago.
-Business Line
Dewan Housing Finance Corporation Ltd (DHFL) reported a huge standalone net loss of Rs 2223 crore in the fourth quarter ended March 31, 2019 against a net profit of Rs 134 crore in the year ago quarter.
-Business Line
Dewan Housing Finance Corp Ltd (DHFL), warned that its financial situation was so grim that it may not survive. The Co said it was "undergoing substantial financial stress" and its ability to raise funds was "substantially impaired and the business has been brought to a standstill with there being minimal/virtually no disbursements."
-Economic Times
Thomas Cook has refuted allegations that an investigation is underway concerning its forex business breaching the Rs 14.7 crore foreign exchange reserve mark at the Cochin International Airport. As per media reports, the Air Customs Intelligence department had initiated an enquiry against Thomas Cook and had written to the RBI demanding cancellation of the Co's license after an alleged 'misappropriation' occurred while granting foreign exchange to foreign nationals at the Cochin International Airport.
-Economic Times
9 of the 10 most valued firms suffered a combined erosion of ₹ 88,609.87 crore in market valuation last week, with HDFC Bank and TCS taking the biggest knock. Reliance Industries Ltd was the lone gainer among the top-10 frontline companies, adding ₹ 11,415.21 crore to its market capitalisation (m-cap) for the week ended Friday to reach ₹ 8,11,782.20 crore. On the other hand, HDFC Bank’s valuation plummeted ₹ 22,395.4 crore to ₹ 6,54,084.95 crore. The valuation of SBI tanked ₹ 6,291.85 crore to ₹ 3,24,454.25 crore and that of ICICI Bank dropped ₹ 5,925.68 crore to ₹ 2,75,568.83 crore.
-Business Line
 -#140719 
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Indian Financial Sector

Department of Financial Services (DFS) has informed that RBI is examining the priority sector lending norms for promoting export credit, Commerce and Industry Minister Piyush Goyal said.
-Economic Times
The Finance Ministry today said that it will look into the applicability of 20% tax proposed in the 2019-20 Budget on the current share buybacks by listed companies. Finance Secretary Subhash Chandra Garg, speaking at a CII event, said the proposed tax on listed companies is aimed at discouraging share buybacks and encouraging investments.
-Economic Times
The Indian Government had Rs 66,793 crore outstanding loans with the RBI under ways and means advances in the week ended July 5, according to the RBI weekly statistical supplement released today. The Central Government had Rs 6,596 crore outstanding loans in the week earlier. State governments had Rs 5,566 crore loans from the RBI in the week ended July 5, compared with Rs 1,661 crore in the previous week, the release showed.
-Economic Times
Even as the real estate industry complains of a slowdown in sales, a RBI survey has said that housing has become less affordable over the last 4 years. This indicates that developers are holding on to prices.
-Economic Times
NABARD today said it plans to raise about Rs 55,000 crore from the market in the current fiscal to fund its business growth and also support various agricultural and rural development schemes of the Government.
-Business Line
After the merger of Bank of Baroda with Dena Bank and Vijaya Bank, the amalgamated lender is focusing on integrating the sprawling technology systems of the 3 financial firms to provide a smooth customer experience. The IT heads of the 3 banks, which together have over 9,500 branches, began chalking out an integration strategy the moment the deal was announced. They, however, had some time before the required slew of approvals came in for the three-way merger.
-Economic Times
The Asian Infrastructure and Investment Bank will launch local currency financing products in India and some other countries this year to provide more options to borrowers, its president Jin Liqun has said. The multilateral development bank could start rolling out the product in pilot countries including India, Indonesia, Thailand and Russia from this month itself. It would focus on private sector clients, Jin said.
-Economic Times
SBI has waived charges on NEFT and RTGS transactions through internet and mobile banking from July 1, after the RBI decided to do away with the charges with an aim to move the country towards less-cash economy. The SBI has also decided to do away with the charges on fund transfer through mobile phones using the IMPS (immediate payment service) from August 1.
-Business Line
IndusInd Bank today reported a 38.30% year-on-year jump in consolidated profit at Rs 1,432.50 crore for the June quarter. The bank had reported a net of Rs 1,035.72 crore in the year ago period.
-Economic Times
UCO Bank is making all efforts to ensure that exporters who do business with Iran can approach its designated branches for help. The bank has increased the number of such designated branches (for doing business with Iran) from 22 to 67. It is now contemplating to set up an apex processing centre across its branch network to help exporters. “This could take another 6-7 months,” a top bank official said.
-Business Line
YES Bank as an issuing and paying agent, facilitated the issuance of a Commercial Paper of INR 100 Crores using Blockchain technology for Vedanta LTD, a natural resources conglomerate. This is the first time in Asia that a CP has been digitally issued using Blockchain technology.
-Moneycontrol.com
Axis Bank tied up with. Flipkart to launch a co-branded credit card and is aiming to sell 1 million of the new card in a year. The new co-branded card comes weeks after American lender CITI launched a similar offering by tying up with payments major Paytm.
-Economic Times
India’s industrial output growth slipped to 3.1% in May mainly on account of subdued performance of mining and manufacturing sector, according to Government data released today. The Index of Industrial Production (IIP) had expanded by 3.8% in May 2018. The index grew at 4.3% in April and 0.4% in March this year.
-Business Line
Retail inflation increased marginally to 3.18% in June over the previous month, mainly due to rise in food prices, according to official data. The retail inflation based on the Consumer Price Index (CPI) stood at 3.05% in May and and 4.92% in June 2018.
-Business Line
India's foreign exchange reserves rose to fresh record high of $429.91 billion as the country's gold and foreign currency assets increased in the week ended July 5. The forex reserves had touched record highs in the previous two weeks.
-Moneycontrol.com
The Government may approach the Ministry of Law and Justice for clarification on monitoring of the recently privatised IDBI Bank. The LIC in January 2019 acquired a 51% stake in the Bank, which reclassified it as a private sector financial institution.
-Moneycontrol.com
The NCLAT today said pension and PF that had invested in IL&FS would have top priority in payment from all categories of companies, whether classified as green, amber or red.
-Business Standard
Infosys today reported 5.2% growth in consolidated net profit to Rs 3,802 crore for the quarter ended June 30, 2019. It had posted a net profit of Rs 3,612 crore in the April-June 2018 quarter, Infosys said in a BSE filing.
-Business Line
USD/INR 68.68
SENSEX 38736.23(-86.88)
NIFTY50 11552.50(-30.40)
 -#120719 
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Sonder rental service raised to $ 210 million, valuing over $ 1 billion

Sonder rental service raised to $ 210 million, valuing over $ 1 billion
The rental service of premium apartments Sonder $210 millions during round D, with an estimate of more than $ 1 billion, the company blog says.
https://preview.redd.it/lghgr136mfa31.jpg?width=1024&format=pjpg&auto=webp&s=5a614400e5b23538af3b57ce01f1504a98a513c5
Investment companies Valor Equity, Westcap, and venture investor Nicholas Pritzker through Tao Capital Partners have become the leaders of the round. By the end of the summer of 2019, Sonder plans to raise another $ 15 million.
“The future of hospitality will be dynamic,” writes Sonder co-founder and chief executive officer Francis Davidson in a statement.
“It will demand flexibility. And that’s what our diverse, unique and adventure-seeking world is like too. That’s why, while our spaces will continue to take on new forms and expand to exciting neighborhoods around the world, a Sonder will always be unforgettable,” he added.
The company will spend the raised funds on opening a second headquarters in Canada and expanding the staff of designers, developers, and finance specialists.
Startup Sonder was founded in 2012 in San Francisco. Users can rent premium apartments without intermediaries using the service. Employees of the company are engaged in the design and equipment of flats, as well as ensure that customers have all the essentials.
“Canada has such a trajectory and momentum and it’s the obvious choice in my view,” Mr. Davidson said in the interview with The Globe and Mail. “You know the stories about the Bay area and how absurd the housing market has become. San Francisco is one of the most expensive cities in the world and that’s reflected in the salaries as well and the competitive war for talent. It would be unsustainable for us to continue to grow here."
There are more than 8,500 apartments in 20 cities of Europe and North America at the disposal of Sonder, according to TechCrunch. By the end of 2019, the company plans to increase revenue to $ 400 million.
You can find more information about the stock market, commodity market, and FOREX on the ITRADER site.
This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. Past performance is not a reliable indicator of future results.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 87.07% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Airbnb launched a service for renting villas and islands

Airbnb launched a service for renting villas and islands
Airbnb has introduced a service for renting villas and islands to Airbnb Luxe. The company reported on its website.
Airbnb claims that there are more than two thousand announcements in the Airbnb Luxe database. The service offers housing in Hawaii, the Caribbean, the Alps and other regions of America, Europe, Africa, Asia, and Australia.
https://preview.redd.it/nopr7ssh5v631.jpg?width=412&format=pjpg&auto=webp&s=a21a9e38af012ae1601239ef012604882cc5fd6b
According to Bloomberg, renting a house on average costs $ 14,000 a week. Each client is provided with a manager who can help organize a vacation - for example, reserve a table in a restaurant. The most expensive housing is the atoll of Nukutepipi near Tahiti, which will cost $ 1 million per week. There are 21 bungalows on site, and 50 people serve customers.
Airbnb's strategic director Nick Guezen told the publication that many of the houses in the service belong to celebrities and billionaires. In order not to disclose their names, Airbnb employees do not leave things in their homes that can be used to identify owners. Every home is insured for $ 1 million.
Airbnb Luxe - an attempt to meet the growing demand for luxury real estate, the company said. In 2018, Airbnb increased the number of bookings of accommodation by 60%, the rent of which exceeds $ 1000 per night.
The company began working on Airbnb Luxe after it acquired Canadian service Luxury Tetreats in 2017. According to Bloomberg, the amount of the transaction was $ 300 million.
You can find more information about the stock market, commodity market, and FOREX on the ITRADER site.
This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. Past performance is not a reliable indicator of future results.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 87.07% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Legal Information: ITRADER is operated by Hoch Capital Ltd., a Cypriot Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 198/13, in accordance with the Markets in Financial Instruments Directive (MiFID II).
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MEDICALCHAIN REVIEW

A lot of people are talking about this project and as a potential investor i decided to run some checks on it and see if it's worth. Everyone is pumped about it but after a closer look I'm not sure it's worth its price. Therefore let's have a look at the facts :
Medicalchain.com LTD
The company was incorporated on 28/06/2017 under the name MEDICALCHAIN.IO LTD as a private company limited by ordinary shares.
Three directors are appointed: Mr. Mohammed Tayeb, Mr. Abdullah Dafir Albeyatti and Mr. Bara Mustafa.
The initial shareholdings (total of 999) are split in 3 equal parts:
1/3 (333) owned by Mr. Abdullah Dafir Albeyatti
1/3 (333) owned by Mr. Bara Mustafa
1/3 (333) owned by XL CAPITAL VENTURES LTD (owned by Mohammed Tayeb and Omar Tayeb)
At 24/07/2017 the number of shares is increased to 1332, with XL CAPITAL VENTURES LTD holding 666 ordinary shares.
At 13/08/2017 XL CAPITAL VENTURES LTD cease to be a shareholder, with MR Mohammed Tayeb now holding the 666 shares previously held by XL Capital.
At 14/08/2018 MEDICALCHAIN.IO LTD becomes MEDICALCHAIN.COM LTD
Below you can find a bit about every member of the team starting with the top dogs.
MOHAMMED TAYEB :: Director
MR MOHAMMED TAYEB description taken from medicalchain.com.
Mr. Mohammed Tayeb is a Partner at Hearn Capital Limited. Mr. Tayeb co-founded ReadyCache. In 2010, he headed up the development side of morethan.com. During his time there, Mr. Tayeb architected and developed a system to drive down online fraud, saving its over £40 million. Prior to that, he ran a boutique consultancy business in the field of mobile web and application development. Together with his brother and Co-Founder, they own over eight games and utility applications on the Apple and Google Play apps market, with over 10 million downloads. Mr. Tayeb is an internet entrepreneur, investor, and founder of several technology and e-commerce start-ups. As well being a Partner in Hearn Capital, he is also a Non-Executive Director on the board of Salic. Mr. Tayeb specializes in bringing together technological efficiencies to the business world. He has a degree in e-commerce from Brunel University and an Executive MBA from the University of Oxford.
I’ve done an extensive background check and noticed that Mr Mohammed Tayeb has had his fingers in many pies since 2010 being appointed director in and out of more than 15 companies. I am not sure if I would trust him with my money as it looks like he cant commit to something for a longer period of time.
Below you can find part of his work history:
MONSTER TECHNOLOGIES LTD :: Director since 9 January 2017 :: Active - no information found
HEARN CAPITAL LIMITED :: Director since 21 January 2016 :: Active
The company is owned from background by Influential (Holdings) Limited owning more than 50% of shares with a total equity of £1.7 mil.
Basically Influential Holding has lent Hearn Capital 1.2 million to invest in different companies. To me it looks like Mohammed has no skin in this as Influential Holdings Limited is owned by Mr Andrew Richardson and Mr John Edward Simpson.
GOODSHAW CAPITAL MANAGEMENT LTD :: Director since 6 January 2016 :: Company still active Dormant company aka not carrying any business activity
DYNISTICS LIMITED :: Director since 03/03/2015 :: Company still active
Acquisition of Dynistics https://www.dynistics.com/ :: a software company that Hearncapital bought in 2015 which counts colleges, NHS Foundation Trusts and recruitment agencies as clients.
Link for acquisition:https://www.insidermedia.com/insidemidlands/141513-hearn-capital-buys-solihull-software-company
Dynistics is listed as a “small company” and the directors have elected not to include a copy of the profit and loss account within the financial statements. Total equity registered at the end of 2016 : £16.557
SALIC(UK)Limited :: Director since 22/01/2015 :: Company still active
Saudi Agricultural and Livestock investment company: this company belongs to Ministry Of Finance (Saudi Arabia) and financed with over 300 million pounds in capital and 75% or more ownership.
The Travel booking Company LTD :: Director since 19/11/2014 : Dissolved 29/03/2016
XL Capital Investment LTD :: Director 17/03/2014 :: Dissolved : 04/07/2017 - no other information found
Global Labs Technology Limited :: Director since 10/12/2013 –Dissolved : 18/07/2016 - No record, probably westernlabs.com which has no track record nor an online presence
Ready Cache Technologies LTD :: Director since 01/10/2013 :: Dissolved : 04/07/2017 - ReadyCache is a website that accelerates your online content and delivers the best possible speeds to you.
Pepperstone Limited :: Director 13/02/2017 – 22/06/2017 :: Resigned (former 123FX.COM LTD)
Pepperstone acquired 123FX.COM LTD what is now its UK subsidiary from Mohammed Tayeb, who alongside his broker Omar Tayeb established an FCA regulated shell with plans to launch a retail forex brokerage called 123FX.com. The business was never launched, and instead was sold to Pepperstone in late 2015.
Pepperstone has suspended trading for clients in its UK subsidiary as the company is making some changes to its management structure and processes, and bringing on some additional resources in its UK office. To comply with its FCA obligations Pepperstone has had to temporarily suspend trading in the UK until all of the changes are complete and the additional resources are in place.
http://www.checkdirector.co.uk/directomohammed-tayeb/ https://www.leaprate.com/forex/brokers/pepperstone-swaps-phil-horner-mohammed-tayeb-board-uk-fx-relaunch/
Some other companies he had been involved with:
• Director House of Choice Stores LTD :: 2013 – 2016 Disolved
• Director XI Capital Ventures LTD :: 2014-2017 Disolved
• Director UR Trading :: 2002 – 2010 Disolved
• Director LOVEFRAGRANCE INTERNATIONAL LTD :: 2012 – Dissolved 2013
• Director DAR FIRST LIMITED :: 2007 – Dissolved 2011
• Director BLACKSTONE E-COMMERCE LIMITED :: 2011 – Dissolved 2013
All this information can be found at https://beta.companieshouse.gov.uk/ . You just lookup his name or company names and access the records.
** Mr. Abdullah Dafir Albeyatti :: Director**
Enthusiastic doctor with a wide range of skills and interests. Currently completing my general practice training in Leeds. Previous surgical trainee in the London Deanery. My ambition is to continue improving as a doctor and to develop myself in other fields of medicine and aesthetic training.
He is also the founder of dischargesummary.co.uk. The website is described as a website designed to streamline and lessen the work load placed on junior doctors by standardising the content of discharge summaries produced when a patient is discharged from hospital. This platform has allowed hospital departments to establish quality assurance and accurately produce reliable discharge summaries to effectively commute between hospital and community medicine.
I checked the website and 3 out of 6 features are under development. The site is now redirected to https://ds.medicalchain.com/
Mr. Bara Mustafa :: DirectoCTO
There is no mention of Mr Bara Mustafa on the mediclchain.com which is weird as he is one of the directors and shareholder. It looks like Mr Bara occupation is CTO, which surely would be of interested to the public. Mr Bara is also a OwneDirector of ENETIDEAS LTD since 2010 rendering services as IT Consultant.
https://www.enetideas.com :: the website is not functional, none of the products links are working.
Jay Povey :: Blockchain developer at medicalchain
His introductory linkedin line :
Self taught programmer, programming for 7+ years. BA(Hons) from Buckinghamshire New University. Since January I joined Medicalchain to help create a world class blockchain platform for electronic health records. Previously worked on forex trading algorithm using deep learning / pattern recognition techniques. I have had a keen interest in blockchain technology over the past 2 years. I have been learning the ins and outs of the technology and Im very excited about the future of blockchain. I see great potential for revolutionizing the way businesses are run.
He started coding for Medicalchain in 2017 previously working for 2 years for one of Mohammed companies ReadyCache which was dissolved.
I’m not sure about his experience developing “on forex trading algorithm” as at the previous company ReadyCache they were “building software that is making a difference to webmasters and large companies. We accelerate our customers’ websites, save our customers money and enhance user experience”
Before ReadyCache he worked for a college as an IT technicial and e-learning advisor.
Also I’m not sure what to make out of his facebook profile, he comes across a bit weird. Also on one of his facebook posts he was asking where you can buy bitcoin in may 2017 but on his summary : “I have had a keen interest in blockchain technology over the past 2 years. I have been learning the ins and outs of the technology and Im very excited about the future of blockchain”
https://www.facebook.com/jaypov
Robert Miller :: Director Of Business Development
Looks like his CV is somehow better than the rest, again worked alongside Mohammed at Goodshaw Capital for 1 year. Freelanced a few blockchain projects so I would say he is the one who will drive the project as longs as the money are coming in.
Linkedin https://www.linkedin.com/in/bertcmiller
Natalie Furness :: Communication Director
She has a background in healthcare industry, namely working as a physiotherapist since 2010. She also lectured for Physiotherapy and Sports Exercise Scientist students at Birmingham University and currently working as a project manager for a company offering solutions to the occupational health sector.
The rest of the team occupies either associates or consultants positions for a short period of time 2-3 months.
To sum it up : the initial £5000 pre-ICO investment is way way exaggerated based on the fact that there is nothing to show for at the present moment, just ideas. Mr Mohammed has started 15+ companies and most of them are dissolved which doesn't sound very promising. On top of that he now owns half the company whereas initially the company was split in thirds. Their CTO is not mentioned anywhere on the website but he is a shareholder in the company.
I would not recommend investing in the project right now and I would wait to see if the project would ever gain traction and materialize.
Below I listed some of the videos related to Medicalchain at different conferences / interviews :
https://www.youtube.com/watch?v=W4Bc4RiugMg
https://www.youtube.com/watch?v=F6WbFMt6Ic4
https://www.youtube.com/watch?v=NT-vRXZ2k-o
https://www.youtube.com/watch?v=devzmfzsh7E
https://www.youtube.com/watch?v=SA91OAaNZUo
https://www.youtube.com/watch?v=h_OdMREOpBI
https://www.youtube.com/watch?v=ebP5ZzQView
If you want me to run any other checks on other upcoming ICO please let me know.
submitted by cryptoflorin to ICOAnalysis [link] [comments]

MEDICALCHAIN REVIEW

A lot of people are talking about this project and as a potential investor i decided to run some checks on it and see if it's worth. Everyone is pumped about it but after a closer look I'm not sure it's worth its price. Therefore let's have a look at the facts :
Medicalchain.com LTD
The company was incorporated on 28/06/2017 under the name MEDICALCHAIN.IO LTD as a private company limited by ordinary shares.
Three directors are appointed: Mr. Mohammed Tayeb, Mr. Abdullah Dafir Albeyatti and Mr. Bara Mustafa.
The initial shareholdings (total of 999) are split in 3 equal parts:
1/3 (333) owned by Mr. Abdullah Dafir Albeyatti
1/3 (333) owned by Mr. Bara Mustafa
1/3 (333) owned by XL CAPITAL VENTURES LTD (owned by Mohammed Tayeb and Omar Tayeb)
At 24/07/2017 the number of shares is increased to 1332, with XL CAPITAL VENTURES LTD holding 666 ordinary shares.
At 13/08/2017 XL CAPITAL VENTURES LTD cease to be a shareholder, with MR Mohammed Tayeb now holding the 666 shares previously held by XL Capital.
At 14/08/2018 MEDICALCHAIN.IO LTD becomes MEDICALCHAIN.COM LTD
Below you can find a bit about every member of the team starting with the top dogs.
MOHAMMED TAYEB :: Director
MR MOHAMMED TAYEB description taken from medicalchain.com.
Mr. Mohammed Tayeb is a Partner at Hearn Capital Limited. Mr. Tayeb co-founded ReadyCache. In 2010, he headed up the development side of morethan.com. During his time there, Mr. Tayeb architected and developed a system to drive down online fraud, saving its over £40 million. Prior to that, he ran a boutique consultancy business in the field of mobile web and application development. Together with his brother and Co-Founder, they own over eight games and utility applications on the Apple and Google Play apps market, with over 10 million downloads. Mr. Tayeb is an internet entrepreneur, investor, and founder of several technology and e-commerce start-ups. As well being a Partner in Hearn Capital, he is also a Non-Executive Director on the board of Salic. Mr. Tayeb specializes in bringing together technological efficiencies to the business world. He has a degree in e-commerce from Brunel University and an Executive MBA from the University of Oxford.
I’ve done an extensive background check and noticed that Mr Mohammed Tayeb has had his fingers in many pies since 2010 being appointed director in and out of more than 15 companies. I am not sure if I would trust him with my money as it looks like he cant commit to something for a longer period of time.
Below you can find part of his work history:
MONSTER TECHNOLOGIES LTD :: Director since 9 January 2017 :: Active - no information found
HEARN CAPITAL LIMITED :: Director since 21 January 2016 :: Active
The company is owned from background by Influential (Holdings) Limited owning more than 50% of shares with a total equity of £1.7 mil.
Basically Influential Holding has lent Hearn Capital 1.2 million to invest in different companies. To me it looks like Mohammed has no skin in this as Influential Holdings Limited is owned by Mr Andrew Richardson and Mr John Edward Simpson.
GOODSHAW CAPITAL MANAGEMENT LTD :: Director since 6 January 2016 :: Company still active Dormant company aka not carrying any business activity
DYNISTICS LIMITED :: Director since 03/03/2015 :: Company still active
Acquisition of Dynistics https://www.dynistics.com/ :: a software company that Hearncapital bought in 2015 which counts colleges, NHS Foundation Trusts and recruitment agencies as clients.
Link for acquisition:https://www.insidermedia.com/insidemidlands/141513-hearn-capital-buys-solihull-software-company
Dynistics is listed as a “small company” and the directors have elected not to include a copy of the profit and loss account within the financial statements. Total equity registered at the end of 2016 : £16.557
SALIC(UK)Limited :: Director since 22/01/2015 :: Company still active
Saudi Agricultural and Livestock investment company: this company belongs to Ministry Of Finance (Saudi Arabia) and financed with over 300 million pounds in capital and 75% or more ownership.
The Travel booking Company LTD :: Director since 19/11/2014 : Dissolved 29/03/2016
XL Capital Investment LTD :: Director 17/03/2014 :: Dissolved : 04/07/2017 - no other information found
Global Labs Technology Limited :: Director since 10/12/2013 –Dissolved : 18/07/2016 - No record, probably westernlabs.com which has no track record nor an online presence
Ready Cache Technologies LTD :: Director since 01/10/2013 :: Dissolved : 04/07/2017 - ReadyCache is a website that accelerates your online content and delivers the best possible speeds to you.
Pepperstone Limited :: Director 13/02/2017 – 22/06/2017 :: Resigned (former 123FX.COM LTD)
Pepperstone acquired 123FX.COM LTD what is now its UK subsidiary from Mohammed Tayeb, who alongside his broker Omar Tayeb established an FCA regulated shell with plans to launch a retail forex brokerage called 123FX.com. The business was never launched, and instead was sold to Pepperstone in late 2015.
Pepperstone has suspended trading for clients in its UK subsidiary as the company is making some changes to its management structure and processes, and bringing on some additional resources in its UK office. To comply with its FCA obligations Pepperstone has had to temporarily suspend trading in the UK until all of the changes are complete and the additional resources are in place.
http://www.checkdirector.co.uk/directomohammed-tayeb/ https://www.leaprate.com/forex/brokers/pepperstone-swaps-phil-horner-mohammed-tayeb-board-uk-fx-relaunch/
Some other companies he had been involved with:
• Director House of Choice Stores LTD :: 2013 – 2016 Disolved
• Director XI Capital Ventures LTD :: 2014-2017 Disolved
• Director UR Trading :: 2002 – 2010 Disolved
• Director LOVEFRAGRANCE INTERNATIONAL LTD :: 2012 – Dissolved 2013
• Director DAR FIRST LIMITED :: 2007 – Dissolved 2011
• Director BLACKSTONE E-COMMERCE LIMITED :: 2011 – Dissolved 2013
All this information can be found at https://beta.companieshouse.gov.uk/ . You just lookup his name or company names and access the records.
** Mr. Abdullah Dafir Albeyatti :: Director**
Enthusiastic doctor with a wide range of skills and interests. Currently completing my general practice training in Leeds. Previous surgical trainee in the London Deanery. My ambition is to continue improving as a doctor and to develop myself in other fields of medicine and aesthetic training.
He is also the founder of dischargesummary.co.uk. The website is described as a website designed to streamline and lessen the work load placed on junior doctors by standardising the content of discharge summaries produced when a patient is discharged from hospital. This platform has allowed hospital departments to establish quality assurance and accurately produce reliable discharge summaries to effectively commute between hospital and community medicine.
I checked the website and 3 out of 6 features are under development. The site is now redirected to https://ds.medicalchain.com/
Mr. Bara Mustafa :: DirectoCTO
There is no mention of Mr Bara Mustafa on the mediclchain.com which is weird as he is one of the directors and shareholder. It looks like Mr Bara occupation is CTO, which surely would be of interested to the public. Mr Bara is also a OwneDirector of ENETIDEAS LTD since 2010 rendering services as IT Consultant.
https://www.enetideas.com :: the website is not functional, none of the products links are working.
Jay Povey :: Blockchain developer at medicalchain
His introductory linkedin line :
Self taught programmer, programming for 7+ years. BA(Hons) from Buckinghamshire New University. Since January I joined Medicalchain to help create a world class blockchain platform for electronic health records. Previously worked on forex trading algorithm using deep learning / pattern recognition techniques. I have had a keen interest in blockchain technology over the past 2 years. I have been learning the ins and outs of the technology and Im very excited about the future of blockchain. I see great potential for revolutionizing the way businesses are run.
He started coding for Medicalchain in 2017 previously working for 2 years for one of Mohammed companies ReadyCache which was dissolved.
I’m not sure about his experience developing “on forex trading algorithm” as at the previous company ReadyCache they were “building software that is making a difference to webmasters and large companies. We accelerate our customers’ websites, save our customers money and enhance user experience”
Before ReadyCache he worked for a college as an IT technicial and e-learning advisor.
Also I’m not sure what to make out of his facebook profile, he comes across a bit weird. Also on one of his facebook posts he was asking where you can buy bitcoin in may 2017 but on his summary : “I have had a keen interest in blockchain technology over the past 2 years. I have been learning the ins and outs of the technology and Im very excited about the future of blockchain”
https://www.facebook.com/jaypov
Robert Miller :: Director Of Business Development
Looks like his CV is somehow better than the rest, again worked alongside Mohammed at Goodshaw Capital for 1 year. Freelanced a few blockchain projects so I would say he is the one who will drive the project as longs as the money are coming in.
Linkedin https://www.linkedin.com/in/bertcmiller
Natalie Furness :: Communication Director
She has a background in healthcare industry, namely working as a physiotherapist since 2010. She also lectured for Physiotherapy and Sports Exercise Scientist students at Birmingham University and currently working as a project manager for a company offering solutions to the occupational health sector.
The rest of the team occupies either associates or consultants positions for a short period of time 2-3 months.
To sum it up : the initial £5000 pre-ICO investment is way way exaggerated based on the fact that there is nothing to show for at the present moment, just ideas. Mr Mohammed has started 15+ companies and most of them are dissolved which doesn't sound very promising. On top of that he now owns half the company whereas initially the company was split in thirds. Their CTO is not mentioned anywhere on the website but he is a shareholder in the company.
I would not recommend investing in the project right now and I would wait to see if the project would ever gain traction and materialize.
Below I listed some of the videos related to Medicalchain at different conferences / interviews :
https://www.youtube.com/watch?v=W4Bc4RiugMg
https://www.youtube.com/watch?v=F6WbFMt6Ic4
https://www.youtube.com/watch?v=NT-vRXZ2k-o
https://www.youtube.com/watch?v=devzmfzsh7E
https://www.youtube.com/watch?v=SA91OAaNZUo
https://www.youtube.com/watch?v=h_OdMREOpBI
https://www.youtube.com/watch?v=ebP5ZzQView
If you want me to run any other checks on other upcoming ICO please let me know.
submitted by cryptoflorin to Crypto_ICO_Investing [link] [comments]

Serenity announces new partner: brokerage house MaxiMarkets

We are pleased to announce our new partner — Maxi Services Ltd.
Maxi Services Ltd (https://en.maximarkets.org/) is an emerging global market leader in financial trading. The company was established in 2008 and is now a rapidly growing brokerage house that enables retail and institutional investors (banks, hedge funds, high-frequency traders, brokerage companies) to trade Indices, Commodities, and Forex. In order to provide the most favorable trading conditions and the best customer service, the Maxi Services Ltd. strategy is to partner with the leading financial institutions in each region the company operates in. Low spreads and the absence of any hidden commissions make MaxiMarkets an advantageous partner for traders.
According to MaxiMarkets, “Serenity is a new and different mechanism for the brokers and more importantly, for traders. We support Serenity efforts to build an environment that will ensure trading is being done at fair market prices. Also, transparency and safety that Serenity wishes to bring to the financial markets is the approach that we support here at MaxiMarkets”.
Alexander Stanovoy, the CBDO of Serenity added “Serenity is thrilled to welcome onboard Maxi Services Ltd., a very popular brokerage house worldwide. Maxi Services Ltd. is a broker with spotless reputation. This is great that such technologically sophisticated brokers as MaxiMarkets partner with Serenity.”
submitted by IcYm0On to SerenityFinancial [link] [comments]

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17 Year Old Builds Tiny House For Only £6,000! - YouTube

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