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Fake Pokemon Go apps infiltrate Google Play store
A malicious gaming app called Pokemon Go Ultimate, the first "lockscreen" app has made its way onto the Google Play store, said software security company ESET.
 
The app when downloaded and run is not installed as Pokemon Go but as "PI Network", a report published in the Fortune said. 
 
Anyone who ran that app would find their phone completely frozen, forcing them to restart the phone by removing the battery. After rebooting, the PI Network app seemed to disappear, but in fact continued running in the background and generating fake ad clicks, stated Fortune.
 
The Pokemon Go gaming app uses the Global Positioning System (GPS) capabilities of the device in conjunction with Google Maps to place virtual creatures in real world locations, which one then tries to find using your device as a guide.
 
Once in proximity to the placed creature, one then needs to use device's camera to view the creature and try to capture it.
 
ESET also spotted several other malicious apps, including Install Pokemongo and Guide & Cheats for Pokemon Go. 
 
The plague of malicious tricks surrounding the augmented-reality game highlights the security risk posed by Android's relatively open app ecosystem. 
 
Though the specific apps highlighted by ESET seem to have been removed from Google Play Store, a search found several apps named with variations on Install Pokemon Go.
 
The app, however, has been pulled off from Google Play, ESET reported. One can uninstall the app manually by going to their phone's application manager.
 
The Pokemon Go is available on Google Playstore and Apple's App Store in the US, Japan and Australia, Philippines, New Zealand, Britain and Germany and is coming soon to India, Singapore, Taiwan and Indonesia. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Country's first e-court opened at Hyderabad High Court
India's first e-court was Sunday opened at High Court of Judicature at Hyderabad, which is the common high court for the states of Telangana and Andhra Pradesh.
 
Inaugurating the e-court, Supreme Court judge Justice Madan B. Lokur said Telangana and Andhra Pradesh were first two states in the country to be chosen for Integrated Criminal Justice System (ICJS) project.
 
While noting that the two states made lot of progress in technology, he said it was one of the reasons for the decision to launch the ICJS, a "system which is going to integrate police stations with the courts, with jails, with the prosecution and with the forensic science laboratories".
 
Justice Lokur, who heads the e-Committee of the Supreme Court, said modalities of the system will be worked out at a meeting scheduled on July 28, and he was impressed with the e-court at Hyderabad High Court.
 
"It is not only the e-court in the sense it is fully computerised but it also a paperless court. We spent few minutes understanding the system and I tried my hand at using the technology. It's extremely user friendly.
 
I will encourage all judges to try it," he said
 
"During this coming week I am going to try and introduce this in Supreme Court as well. If it happens in the Supreme Court, you (Telangana and Andhra Pradesh high court) can take all credit for it," he said.
 
Stating that technology today is much better, he exuded confidence that all judges will be able to use it easily. He hoped that there will be more e-courts in near future.
 
Justice Lokur said a huge amount of progress has been made in this high court over couple of years due to the keen interest taken by the chief justice.
 
"Things dramatically changed over last 3 or 4 years. The team effort led to this change. The e-committee trying to supplement this team effort," he added.
 
He said the purpose of e-courts was to ensure speedy justice for the litigants. He stressed the need to appoint staff for paperless courts and advised judges to focus on online data entry.
 
High court incharge Chief Justice Dilip B. Bhosale, judges of the high court and senior officials were present.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

manoharlalsharma

5 months ago

Each and Every thing available on e...but,ask the conman citizen how far he can able to coup with system?so my humble request is to get educated people first.

Enter helicopter money: Global central bank's post QE era ammunition
Move over Brexit. The big talk in the financial markets right now is a meeting between former US Fed chairman Ben Bernanke and Japanese Prime Minister Shinzo Abe and his key economic advisors last week.
 
Bernanke, also dubbed 'Helicopter Ben' since the early 2000s after advocating tax cuts financed by money creation to fight deflation, is a leading academic voice on the rather exotic topic of helicopter money.
 
Even after pumping in trillions of yen into the financial system and delaying a scheduled sales tax hike to 2019, Japanese policymakers have had little or no effect in restoring growth and inflation. It is important to remember that in terms of the percentage of the monetary base, Japan has undertaken the largest quantitative easing (QE) programme -- much larger in relative terms than the US Federal Reserve and the European Central Bank (ECB).
 
It was actually the legendary Chicago economist Milton Friedman who introduced this concept in 1969 in his paper titled 'The Optimal Quantity of Money'. Friedman wrote: "Let us suppose now that one day a helicopter flies over this community and drops an additional $1,000 in bills from the sky, which is, of course, hastily collected by members of the community. Let us suppose further that everyone is convinced that this is a unique event which will never be repeated."
 
The basic thinking behind this economic idea is that if a central bank wants to raise inflation and output in an economy running significantly below potential, one effective tool is to simply give everyone direct money transfers. In theory, people would see this as a permanent one-off expansion of the amount of money in circulation and would then start to spend more freely, increasing broader economic activity and pushing inflation back up to the central bank's target. (which is two per cent in Japan's case).
 
We are witnessing arguably the most unique conditions in the financial markets: stocks and bonds are both at all-time highs. Trillions of dollars of debt is negative-yielding but fixed income is still the best performing asset class. Some market participants are building long positions in gold as the global economic recovery is running out of steam and more action in terms of cheap money injection is expected from central banks. But rates can't go much lower than where they currently are and more QE is clearly not the answer -- looking at the economic data out of Europe and Japan.
 
Thus, we should expect the talk of helicopter money and its effect on asset markets to be one of the most hotly-debated topics in the financial world in the coming weeks and months.
 
What do we need to know about helicopter money? Initial introduction and thoughts:
 
Firstly, we need to understand that in theory, this is a fiscal policy financed by monetary policy -- an expansionary fiscal policy financed by the central bank's balance sheet. Unlike debt-financed fiscal programmes, a money-financed programme does not lead to increased future tax burdens. So, it requires the central bank and the government to work together and coordinate policy responses. This is not always easy as we saw when US debt ceiling stand-offs between Democrats and Republicans in Washington effectively pushed back against the efforts of the Federal Reserve to keep the country's economic recovery on track.
 
What also follows from the very construct of helicopter money is the scary fact that when governments become used to being able to fund tax breaks or investment projects with newly-printed money, they might decide that the tool is too useful to give up, even in good times. 
 
Secondly, how is this different from QE? And why can it be more helpful to the real economy? Economists argue that the major difference between QE as it has been carried out and helicopter drops as envisaged by Friedman is that the vast majority of purchases have been asset swaps, where a government bond is exchanged for bank reserves. While this has lowered government borrowing costs, its transmission to the real economy has been indirect and underwhelming. Direct transfers into people's accounts, or monetary-financed tax breaks or government spending would offer one way to increase the effectiveness of the policy by directly influencing aggregate demand rather than hoping for a trickle-down effect from financial markets.
 
Thirdly, as economist Willem Buiter points out, there are three conditions that must be met for helicopter money to boost aggregate demand. 1) There must be benefits from holding fiat base money other than its pecuniary rate of return. 2) Fiat base money is irredeemable: it is viewed as an asset by the holder but not as a liability by the issuer. This is necessary for helicopter money to work even in a permanent liquidity trap, with risk-free nominal interest rates at zero for all maturities. 3) The price of money is positive.
 
The idea of helicopter money and the framework which policymakers will likely deploy in the coming time may be slightly different from Friedman's idea depending on market conditions as well as the desired objectives. But one thing is certain. If QE fails, helicopter money will be dropped by major global central banks.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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