Companies

How the switch from TR-069 to TR-369 can positively impact the bottom line for telecoms

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How the switch from TR-069 to TR-369 can positively impact the bottom line for telecoms

The telecommunications industry is transitioning from Technical Report 069 (TR-069) to Technical Report 369 (TR-369), also known as User Services Platform (USP). TR-069, developed by the Broadband Forum, is a protocol for remote management of end-user devices like modems, routers, and gateways, focusing on broadband devices. TR-369 represents the next evolution, extending management capabilities to all internet-connected devices, including IoT devices, and offering a more flexible, secure, and scalable approach. This transition aims to enhance operational efficiency, reduce costs, and drive revenue growth for telecommunications companies by leveraging automation, improving diagnostics, and creating new revenue streams through expanded service offerings. However, the shift also presents challenges, including technical complexities, the need for staff training, compliance with regulations, and the initial investment required.

Wizz Air’s President: We want to continue building on our position as number one at Larnaca airport

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Wizz Air’s President: We want to continue building on our position as number one at Larnaca airport

– Wizz Air established a base at Larnaca Airport in 2020.
– Since its establishment, Wizz Air has doubled its capacity at Larnaca Airport.
– Wizz Air is now the leading airline in Larnaca and the second overall in Cyprus.
– In 2023, Wizz Air experienced a significant increase in passenger numbers in Cyprus compared to 2022.
– The increase in passengers was attributed to new destinations, Cyprus’s tourism strategy, and Wizz Air’s low fares.
– Wizz Air navigated challenges such as the pandemic, Russia’s invasion of Ukraine, and the conflict between Israel and Hamas by quickly reallocating capacity and was the first airline to return to pre-COVID levels by volume.
– Wizz Air operates at 160% of its pre-COVID capacity.
– The airline is focused on sustainability and is investing in new technology for the future, including the potential development of hydrogen aircraft.
– Cyprus aims to attract tourists from a wider range of countries and has been successful during the 2023 tourist season.
– Operational challenges in summer 2022 led Wizz Air to invest in schedule resilience.
– Wizz Air plans to continue growing, with potential new routes and increased frequencies to existing destinations.
– The airline carried 60 million passengers in 2023 and operates a fleet of around 180 aircraft, with plans to grow by 30 to 40 aircraft per year.

Moldovan breakaway region asks Russia to protect its economy from pressure

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Moldovan breakaway region asks Russia to protect its economy from pressure

Officials from the Russian-backed Moldovan breakaway region of Transdniestria have requested Russia’s assistance to counteract what they claim is economic pressure from the Moldovan government. This request was formalized through a resolution passed by the “congress of deputies of all levels” in Transdniestria, which includes several ministers from its government. The resolution appeals to the Federation Council and the State Duma of Russia for protective measures against Moldova’s increasing pressure. Transdniestria, an unrecognized statelet bordering Ukraine, has been autonomous from Moldova for three decades with Moscow’s support, including the presence of over a thousand Russian troops. Moldova introduced customs regulations requiring Transdniestrian companies to pay import duties to the Moldovan budget, reducing Transdniestria’s customs revenues by 18%. The resolution claims this constitutes social and economic pressure that violates European principles on human rights and free trade. Moldovan government spokesman Daniel Voda criticized the congress as a propaganda event.

EU countries block supply chain audit law at last hour

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EU countries block supply chain audit law at last hour

European Union countries blocked new rules requiring large companies to check their supply chains for forced labour or environmental damage due to opposition led by Germany. A ‘qualified majority’ was needed for the corporate sustainability due diligence directive (CSDDD) to proceed to a final vote in the European Parliament, but not enough support was garnered. Germany’s Free Democrats (FDP) argued the law would impose excessive bureaucracy on businesses. Thirteen EU members abstained and one voted against the law. This was the second attempt by Belgium, holding the rotating EU presidency, to secure backing for the directive. The CSDDD, set to enter force in 2027, mandates large companies in the EU to identify and address forced or child labour and environmental damage in their supply chains. The rules would apply to companies with more than 500 employees and a net worldwide turnover above 150 million euros.

Stellantis aims to sell up to 500,000 vehicles to Ayvens across Europe

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Stellantis aims to sell up to 500,000 vehicles to Ayvens across Europe

Stellantis, a Franco-Italian automaker, has entered into a frame agreement with Ayvens, a leasing and fleet management company, to sell up to 500,000 vehicles in Europe over the next three years. The vehicles will be purchased by Ayvens’ affiliates for its long-term leasing fleet, with initial deliveries starting in the first half of 2024. The deal includes flexibility in order quantities, compositions, and delivery dates based on fleet requirements and demand. Ayvens’ customers will have access to brands such as Alfa Romeo, DS Automobiles, Fiat, Opel, Peugeot, and Vauxhall, with the possibility of extending to Stellantis’ full portfolio in the future. This agreement is aimed at supporting the transition to more sustainable mobility options. Ayvens was formed through the acquisition of LeasePlan by ALD Automotive, a subsidiary of Societe Generale.

UK job vacancies fall 15 per cent year-on-year in January, Adzuna data shows

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UK job vacancies fall 15 per cent year-on-year in January, Adzuna data shows

British employers advertised the fewest jobs in nearly three years last month, with a 15% decrease from the previous year, according to Adzuna. The official jobless rate was at 3.8%. The Bank of England aims to slow wage growth from rates of more than 6% to reduce inflation. Job vacancies in Britain were reported at 867,436 in January, the lowest since April 2021, down from over 1 million a year earlier. The number of job seekers per advertised vacancy rose to 1.81 from 1.48 a year earlier. Preliminary data for February suggested the number of vacancies was stabilising. The average starting salary for positions advertised was 38,168 pounds, a 3.0% increase from the previous year.

Cyprus establishes administrative services supervisory body

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Cyprus establishes administrative services supervisory body

The Cabinet approved the establishment of a unified supervisory authority for administrative service providers in Cyprus, aimed at enhancing oversight and protecting the nation’s reputation. This authority will be overseen by the Cyprus Securities and Exchange Commission, in collaboration with the Institute of Certified Public Accountants of Cyprus (ICPAC) and the Cyprus Bar Association. It will conduct joint inspections with relevant supervisors and strengthen the governance of administrative service-providing companies by defining service providers and limiting the number of companies served. The authority will also address sanctions violations and implement preventative measures, with fines and other penalties for violations.

Bar Association examining AG report over lawyer, ’s claims

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Bar Association examining AG report over lawyer, ’s claims

The Bar Association has not yet decided how to proceed with a complaint filed by Attorney General George Savvides against lawyer Efstathios Efstathiou. The decision was delayed due to the extensive volume of material that needs to be assessed. Savvides has requested the association to examine whether Efstathiou committed disciplinary offences. Efstathiou accused the Attorney General, his deputy, and the legal service of collaborating with Russian oligarch Oleg Boyko in an allegedly illegal 3.4 million deal involving the theft of shares from Ilya Alekseevitch Surkov. The Attorney General’s office denied any corruption claims, and Savvides stated he would recuse himself from the proceedings as he heads the disciplinary board.

Gov pledges , ‘tough oversight’ on services sector after sanctions

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Gov pledges , ‘tough oversight’ on services sector after sanctions

The Cabinet of Cyprus approved the establishment of an oversight body for service-sector companies to prevent actions that could harm the country’s reputation. This body will conduct snap reviews if there are indications of practices negatively affecting Cyprus’ reputation and will be led by the Cyprus Securities and Exchange Commission (CySEC), in collaboration with the Bar Association and the Accountants Association (Selk). Finance Minister Makis Keravnos stated that the body could investigate announcements of sanctions violations and would impose fines, reprimands, and other measures as necessary. The oversight will include pre-emptive inspections, and there will be legal regulation over this area. Additionally, the qualifications of service providers will be determined, and a cap on the number of companies they can serve will be set. However, the Bar Association, represented by chairman Michalis Vorkas, expressed opposition to the requirement for lawyers to share confidential data with other bodies, emphasizing concerns about client confidentiality. The matter will be presented to parliament for further discussion. Lastly, recent sanctions by the US, UK, and Canada involved three companies based in Limassol and an individual with dual Cypriot and Russian citizenship.

EU lawmakers approve tougher bloc-wide penalties for environmental crime

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EU lawmakers approve tougher bloc-wide penalties for environmental crime

The European Parliament approved tougher penalties for environmental crimes, including illegal timber trade, with offences punishable by up to 10 years in prison. Company directors can be prosecuted for corporate wrongdoing. The legislation, applicable to the EU’s 27 member states, targets offences such as illegal depletion of water resources, grave breaches of EU chemicals law, pollution by ships, and destruction of ecosystems due to large-scale forest fires or widespread contamination. It updates a 2008 EU directive, allowing for the prosecution of individuals in leading company positions responsible for pollution. Environmental crimes committed by individuals and company representatives can result in imprisonment up to eight years, with offences causing death punishable by up to 10 years. Offenders are required to rehabilitate damaged environments and pay compensation. Companies can face fines up to 5% of their annual worldwide turnover or up to 40 million euros. The directive was adopted by 499 votes in favor, 100 against, and 23 abstentions and will take effect after publication in the EU Official Journal. Member states have two years to incorporate the rules into their national legal systems.