Foursquare launches promoted updates – now all social networks have ads in your news feed

It’s official, all the social networking sites have started adding “promoted” tweets/posts/places to your news feed. It’s no surprise considering that Twitter, with its “promoted tweets,” recently said it has a “truckload of money in the bank”.

 

Today Foursquare is launching its version of search ads, Promoted Updates.

Promoted Updates operate like Google’s promoted listings or Twitter’s promoted tweets. They are pay-per-action ad placements that only appear when a user is searching for a venue in Foursquare’s Explore tab.

Foursquare determines a user’s current location and check-in history before displaying a Promoted Update. The ads are powered by the same recommendation engine as its Explore feature. All of the paid placements will be clearly labeled at the top of the feed; they can include a store’s recent news, photos or specials.

Foursquare has partnered with about 20 merchants, from small mom and pop shops to national chains like Best Buy, to launch the pilot program. In the next few months, Foursquare hopes to turn Promoted Updates into a self-service tool merchants of all sizes can use on its platform.

 

Keep reading: Business Insider – Foursquare Launches Promoted Updates, Its Newest Effort To Generate Revenue

 

 

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Jesus saves, Moses lends, Muhammad invests – Islamic finance accounts for 1 trillion in banking

“The interesting thing about Islam,” says Professor Constant Mews, “is that it was a much more commercial culture from the outset than Christianity.”

And from around the middle of the eighth century to the middle of the 13th, while European Christians were struggling through the Dark Ages, the Islamic world enjoyed a golden age.

Arab merchants had a lot to do with it.

“They developed alternative ways of regulating funds,” says Mews.

“In particular the core Islamic principle is simply one of sharing profit and loss. The desire is to promote investment by taking commercial risk.

“Risk, incidentally, is an Arabic word, referring to where you lend money to others without requiring a return unless there is profitable growth.”

And for some 500 years, this financial model underpinned advances in science, the arts, architecture, and innovation generally. Then came the Crusades and the Mongol hordes, and the Islamic model of finance declined, the space becoming filled by that other model.

Islamic finance, however, is undergoing something of a renaissance.

It is now a USD1 trillion industry…Mohamed Ariff continues the litany of statistical growth: there are 57 majority-Muslim nations, 76 countries which already practice Islamic banking, 350 banks, 15 insurance companies and about 1,200 mutual funds.

Keep readingJesus saves, Moses lends, Muhammad invests

 

 

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