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How the internet saved businesses and economies around the world

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The internet has made the globe a village, revolutionized ways of doing business, dwarfed advertising costs, made it easier for citizens to access government services, and provided consumers with an unprecedented choice of products and services at rock-bottom prices. Per Statista, global e-commerce sales hit $4.28 trillion in 2020 and are projected to surpass $5.4 trillion in 2022. That's good for economies everywhere.

Where the internet shines brighter is how it's saved small businesses from the wrath of traditional owners of capital. It’s now easier than ever for merchants to obtain small business financing from online lenders.

6 Ways the Internet has saved businesses

Low-budget advertising

Gone are the days when blue chips owned the tools of advertisement. According to data provided by Adage, the average cost of a 30-second TV commercial can be as high as $115,000.

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The Internet has democratized the advertisement scene with online marketing. Expert Market estimates that businesses can now spend as low as $750 -$1500 per month on SEO campaigns and an average of $5,500 per month on social media campaigns.

That's a boon for small business owners everywhere. They can now meet their marketing costs with loans for small business financing.

Effective marketing

Internet marketing tools have helped businesses remove the guesswork out of their marketing efforts. Using Conversion rate optimization (CRO) tools like Google Analytics, HubSpot, and Unbounce, businesses can measure the effectiveness of their digital marketing strategies.

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You can see how many people landed on your product pages from an email, Facebook, or Google ad and how many ended up buying your product or services. Thus, you can measure conversions and determine your ROI on the go.

Again, online tools enable businesses to obtain valuable information about their customer's interests and run targeted ads that appeal to specific demographic groups that are already interested in their products or services.

Expand with fewer overheads

With the internet came eCommerce, which has made it easier for businesses to scale to new markets and grow their businesses with little overheads. Today, small business owners can sell their products online in different cities, states, and countries from a single location.

It takes money to build a business website, but the cost is minuscule compared to the ongoing overheads of renting space and hiring new workers in different places. You can easily obtain small business financing from an online lender to fund the upfront costs of taking your business operations to the cloud.

Easier Entry

The Internet has removed all barriers to entry into the business world. Today, anyone with a laptop and internet connection can start a business from the comfort of their house - even without inventory! Yes, if you're tech-savvy and can build your own website and do a bit of digital marketing, starting a business with little to no capital and $0 overheads is now possible in the internet age.

That's what dropshipping is all about. Simply create an online store and liaise with reliable third-party fulfillment partners to list their products on your site as if they are yours. Once you make a sale, your partner packages and ships the product directly to the customer. How good is that!

Access to talent

Businesses of all sizes can now access an on-demand workforce online from any part of the world without the need to hire expensive in-house professionals. That's what platforms like Upwork and Fivver are all about. From talented programmers, SEO experts, and animation professionals to content creators and graphic designers, there is no shortage of talented freelancers that businesses can get online at a fraction of the cost of building a whole department in-house.

Access to financing for small businesses

Lastly, the internet has played a big role in closing traditional lending gaps. Obtaining small business financing from traditional lenders has been a bane for small business owners for many years. With the rise of online lenders, crowdfunding, and peer-to-peer lending platforms, the funding gap is now closing quickly.

For instance, online lenders like caminofinancial.com are now the cream of the crop when it comes to obtaining financing for small businesses. They have a simple application process, provide loans with bad credit, and have short approval periods of 1-10 days.

Business

Betting software provider for a successful business

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NuxGame is an iGaming solution and products provider offering new operators an opportunity to launch their casino/sportsbook website fast. The solution provides instant access to a wide range of casino and betting products, including a seamless wallet API, ready-made Turnkey platform, and sports betting engine. With NuxGame, you can start an online gambling casino in 48 hours. Operators have access to all essential features and the best products from top-rated providers. What's more, NuxGame partners with many well-respected game providers, allowing casinos to offer an impressive collection of games in their lobbies.

NuxGame Solutions

NuxGame has three leading solutions for those looking to start an online casino and sportsbook, as shown below.

  1. Turnkey

Turnkey is a high-class platform designed to offer a sleek modern gambling website in 48 hours. The ready-made solution allows aspiring casino operators to launch their platform with all required tools and features. Besides its quick setup, Turnkey offers all major games, providers, personalized branding, and a plethora of universal payment methods. The suite also features all crucial integrations, including sports betting software, video slots, live casinos, table games, video sports, etc.  All you need to do is to contact NuxGame, discuss the terms with the representative, and launch your platform.

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  1. Seamless APIs

Operators will get either casino or sports betting APIs. A user-friendly dashboard connects NuxGame and the client's website, so you can easily add and remove features. The easy-to-use iFrame dashboard has various useful tools that allow managing the content fast and easily. For instance, operators can use the sports odds API to provide competitive odds, allowing players to start betting without any further action.

  1. Sport Engine

The NuxGame sport engine is a simple and easy-to-use solution that allows to add a sports betting module to your website or to launch a sportsbook of your own from scratch. It allows 100% customization and is ideal for operators of any scale - big well-established brands and private entrepreneurs who are only entering the betting market. You'll get a reliable core product that allows you to build a unique betting portal featuring pre-match fixed odds, live matches, multi bets (bet combinations), risk management, and brand control. Your players will also enjoy instant access to thousands of markets across popular sports like football, basketball, tennis, golf, hockey, etc.

NuxGame Products

The NuxGame a number of first-class iGaming products to the benefit of their clients. Below is an overview of the five major products we recommend you to use instead of building a website from scratch.

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  1. Online Casino – NuxGame platform offers instant access to popular casino games. You can start offering video slots from top-rated providers, including classic fruit machines, jackpots, megaways, standard five-reel-themed games, and many more. In addition to slots, the solution features table games like blackjack, roulette, baccarat, and poker. You’ll get games from Habanero, Endorphina, Pariplay, Spinmatic, Pragmatic Play, Tom Horn Gaming, Playson, Boongo, 1X2, Platipus, Evoplay, Push Gaming, Yggdrasil, Relax Gaming, One Touch, and more.
  2. Sportsbook – NuxGame is widely recognized for its sport engine, which offers access to all types of sports betting. The online bookie solution comes with various tools and features for a memorable betting experience. Notable attributes include real-time data feeds on customers and bets, gambling management tools, quick integration, risk/odd management, and multiple payment methods. Players will have access to your sportsbook within 48 hours and will get access to betting on major worldwide tournaments and competitions.
  3. Live Betting – Live betting is an integral part of any online betting website. Most operators offer pre-match fixed odds and live betting for players looking to take advantage of fluid live odds. NuxGame has reliable live betting software that allows you to provide a complete sports betting experience. You'll get real-time odd adjustments to satisfy the growing demand for flexible in-game odds.
  4. Live Dealer Casino – Live dealer casinos offer players something closer to the classic land-based gambling experience, complete with real-life croupiers. NuxGame allows you to add the best live games from the most reputable studios in the industry. You can offer Live Blackjacks, Roulettes, Baccarat, and Poker. You’ll also get other popular live dealer products, such as Dream Catcher, Monopoly, Craps, Keno, Dice, and many more. The cutting-edge live dealer solution offers top-rated studios with HD quality streams, multi-camera, and intuitive player settings.
  5. Virtual Sports – Virtual sports have seen tremendous growth over the past few years. When there is no current real-life sport to bet on, your players can always look for something interesting in this section since life sports events are very frequent. NuxGame Turnkey comes with virtual sports software that offers RNG-based simulations of popular games, such as football, basketball, horse racing, and more. Unlike regular sports betting and eSports, virtual sports are available 24/7, which is a great benefit.

Advantages of NuxGame

The benefits of using NuxGame are quite straightforward, especially for operators looking to launch their gambling websites. Without solutions like Turnkey, you'd have to build everything from scratch and complete all required integrations, which is time-consuming, expensive, and overwhelming. Here are some advantages of using NuxGame for your gambling business.

  • Wide Range of Games - NuxGame has partnered with leading casino game developers such as Pariplay, Pragmatic Play, TVBet, Ezugi, Evolution, Golden Race, Habanero and many others. You’ll have an impressive game lobby with all the fan favorites (slots, blackjacks, roulettes, poker, live dealer, etc.).
  • Massive Sportsbook – The sports engine offers access to thousands of markets across all kinds of sports and major tournaments worldwide. You can feature bets on football, hockey, tennis, cricket, badminton, rugby, golf, racing, cycling, swimming, eSports, and more.
  • 24/7 Support – All NuxGame clients get support around the clock, so you can resolve any issue to give your players the best gambling experience. The solution also comes with a personal manager to help you navigate issues in real-time and an Amazon Cloud Infrastructure.
  • Fast Implementation – One of the top advantages of using NuxGame and Turnkey solution is the opportunity to implement your business within 48 hours. You’ll get a ready-made platform featuring sportsbook software, casino software, live betting software, virtual sports betting, and more.
  • Mobile-Friendly – The NuxGame solution and products are fully optimized for mobile efficiency and work across Android and iOS devices. You can launch a mobile-friendly casino and sportsbook compatible with modern phone browsers. The solution is also optimized within dedicated mobile casino apps.

Summary

NuxGame is an efficient solution for new entrepreneurs considering starting an online gambling/betting business. The solution offers a ready-to-launch platform ready to start accepting registrations and real money bets. It is also incredebly secure and features personal account managers and 24/7 customer support. Your players will have access to the best casino games and popular betting markets and sports.

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European Investment Bank

EIB strengthens global development focus and backs €4.8 billion new financing for energy, transport, COVID vaccines and business investment

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The Board of Directors of the European Investment Bank (EIB) has approved plans to strengthen its global development engagement. It also approved €4.8 billion of new financing for 24 projects to support climate action, COVID vaccines and economic resilience, sustainable transport and education.

“In June the Council of Ministers asked the EU Bank to enhance its contribution to the Union’s development efforts through dedicated strategies, stronger presence on the ground globally, and better coordination with partners in a genuine Team Europe approach. Today we responded to the Council’s call by proposing the creation of a branch of the EIB focused on development finance, and the Board endorsed this proposal. As a result, the EU Bank will be able to make a stronger contribution to boosting Europe’s strategic autonomy, by placing more experts on the ground, and be a more effective partner for other multilateral and national development banks. And we will be in a better position to pursue our global ambition in terms of the fight against climate change,” said EIB President Werner Hoyer.

Strengthening EIB’s development impact

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The EIB Board of Directors approved the bank’s proposal to set up a development branch to increase the impact of its activities outside the European Union. It underpins the EIB’s response to the call for action expressed in the “Council conclusions on the enhanced European financial architecture for development (2021)” adopted on 14 June 2021. Through its development branch, the EIB will reorganise its activities outside the European Union and increase its presence on the ground, developing more targeted strategies and services in close cooperation with partners.

The bank will reinforce representations outside the EU and create a number of regional hubs, intensifying complementarity and cooperation with Multilateral Development Banks, national Development Finance Institutions and local partners, in a Team Europe approach. The hubs will focus on thematic sectors, product competences and services that respond to the needs of the region in which they are located. The first regional hub, strengthening EIB work in East Africa, will be located in Nairobi.

A new advisory group will advise the EIB for its operations outside the European Union. It will include

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EU development policy makers nominated by the Member States, the European Commission and the EEAS.

€2.2bn for climate action, clean energy and energy efficient homes

The EIB agreed new financing to increase wind and solar energy generation in Spain and Portugal, upgrade national energy networks in Poland and improve energy efficiency and cut heating bills in Hungary and Finland.

Targeted financing schemes to accelerate investment in small scale renewable energy and climate action projects in Austria and Poland, and across Latin America and Africa were also approved.

€647 million for COVID vaccine deployment, health and education

Building on the European Investment Bank’s backing for COVID vaccine development and deployment new programmes to finance purchase of COVID-19 vaccines for distribution in Argentina and across South Asia, including Bangladesh, Bhutan, Nepal, Sri Lanka and the Maldives were confirmed.

The Board decided to support the expansion of long-term care for disabled patients in the Netherlands, the roll-out of digital learning technology in primary and secondary schools and upgrading scientific research in Croatia was also agreed.

€752m for sustainable urban, regional, air and maritime transport

Tram passengers in the Slovak city of Košice and commuters in the Polish cities of Gdansk, Gdynia and Sopot, and across Moldova, will benefit from new EIB backed investment to modernise and improve transport links.

The Italian ports of Genoa and Savona will receive EIB financing to upgrade rail access and better protect the ports from flooding and more extreme weather through the construction of a new breakwater.

The EIB also agreed to finance the replacement and upgrade of air traffic control and navigation equipment to maintain safety and security standards in Hungarian airspace.

€500m for private sector investment and COVID-19 economic resilience

The EIB board also approved new financing programmes managed by local banking and investment partners to support investment by businesses across Spain, Poland and South East Asia facing COVID-19 challenges.

Background information

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its member states. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

Overview of projects approved by the EIB Board.

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Business

EU Reporter under attack

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Last week an article in the publication Politico Europe alleged that EU Reporter had engaged in “EU lobbying dressed up as journalism” because our marketing literature says: “Use EU Reporter to influence”.

EU Reporter totally rejects this accusation of undercover lobbying, which was an attack by Politico Europe on a smaller but successful rival publication and its publisher.

We were given just hours to respond to these ill-founded accusations, mostly based on a trawl through stories we’ve published over the past ten years, to defend our well-earned good name.

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To reassure our audience, we have asked the independent news monitoring organization NewsGuard, to monitor our output from now on, and to make its findings publicly available.

EU Reporter believes Politico EU’s attack on us is a cynical attempt to achieve market dominance, and invites our readers to view today’s Politico Brussels Playbook, which offers:

“POLITICO Media Solutions provides brands with the solutions to create, convene, and connect with power players. We create opportunities for brands to connect with our influential audience”

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A case of people in glass houses throwing stones perhaps?

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