2007'02.11.Sun
The Walt Disney Studios Celebrates Record Performance in 2006 With Worldwide Hit Films, Top Selling DVDs and CDs, and New Stage Hits
December 30, 2006
BURBANK, Calif., Dec. 28 /PRNewswire/ -- The Walt
Disney Studios (NYSE:
DIS) posted a record-breaking performance in 2006 as
worldwide box office
revenues climbed to a sensational $3.26 billion (as of
12/27/06) with Walt
Disney Pictures "Pirates of the Caribbean: Dead Man's
Chest" capturing the
#1 spot all over the world; Buena Vista Worldwide Home
Entertainment
setting an unprecedented domestic milestone with the top
three bestselling
DVD titles -- "Pirates of the Caribbean: Dead Man's
Chest," "Cars" and "The
Chronicles of Narnia: The Lion, The Witch and The
Wardrobe"; "High School
Musical" and "Rascal Flatts" becoming the
year's number one and number two
top-selling CD titles across all genres; and Disney
Theatrical Productions
celebrating the successful Broadway debuts of
"Tarzan" and "Mary Poppins,"
it was announced today, Thursday, December 28, by Dick
Cook, chairman of
The Walt Disney Studios.
(Logo:
http://211.154.41.99:9080/xprn/sa/200612301148.jpg )
Commenting on the announcement, Cook said, "In
every area and on every
level, 2006 was an extraordinary year for The Walt Disney
Studios. At the
worldwide box office, moviegoers everywhere were captivated
by the latest
incredible 'Pirates of the Caribbean' adventure and there's
more surprises
and thrills in store this coming May with 'Pirates of the
Caribbean: At
World's End.' John Lasseter's exciting, inventive, and
heartfelt film,
'Cars,' further demonstrated the worldwide appeal of
Pixar's great
characters and storytelling. With the acquisition of Pixar,
and the benefit
of John and Ed Catmull's leadership at Disney and Pixar,
the Studio can
look forward to a steady flow of great animated films for
many years to
come. Our worldwide home entertainment division continued
to benefit from
the Studio's great box office successes and added some
impressive new
milestones of their own with the year's three top domestic
titles. Buena
Vista Music Group enjoyed a record year with enormous hits
from Rascal
Flatts, 'High School Musical,' and 'Hannah Montana,' and
had the top two
selling CDs of the year across all genres. 'Mary Poppins'
and 'Tarzan' had
their bows on Broadway, adding to Buena Vista Theatrical
Group's amazing
track record. And Miramax Films returned to its roots as a
provider of
quality independent and modestly budgeted films from
outstanding
filmmakers. The critical acclaim for films like 'The Queen'
and 'Venus' are
among their latest successes. I am very proud of the
Studio's phenomenal
performance in 2006, and salute all the great members of
the team that
worked so hard to make this possible."
At the box office, Disney's "Pirates of the
Caribbean: Dead Man's
Chest" became Buena Vista's top domestic grosser of
all-time with a tally
of more than $423 million, while BVI posted a new record
with its
gross-to-date of $642 million. It was only the third film
in industry
history to cross $1 billion in global box office and in
record time.
Additionally, "Pirates" ranked number one for
nine consecutive weeks at the
international box office -- the longest consecutive week
reign of any film
this century. Disney/Pixar's latest computer-animated
offering, "Cars" also
revved up the box office, crossing the domestic finish line
in second place
with $244 million in ticket sales. The global performance
of over $462
million made "Cars" the fifth consecutive
Disney/Pixar production to
achieve more than $400 million at the worldwide box office.
The one-two
punch of "Pirates" and "Cars"
represents the first time in 20 years that
the same studio had the year's number one and two films
domestically.
Buena Vista Pictures Distribution has passed the $1
billion mark for
the 10th time, more than any other studio, and Buena Vista
International
marked an unprecedented 12th consecutive year with a 2006
box office gross
of more than $1 billion.
Buena Vista Worldwide Home Entertainment achieved an
industry milestone
by having the top three selling DVDs in the domestic
market. With over 10.5
million units sold in the first week alone, "Pirates
of the Caribbean: Dead
Man's Chest" was on track to become the #1 live-action
DVD seller of
all-time, the #1 DVD of the year, and the #1 DVD of the
holiday season.
Disney/Pixar's "Cars" was the worldwide
best-selling animated title on DVD
for 2006, and the year's #2 top performer domestically.
"The Chronicles of
Narnia: The Lion, The Witch and The Wardrobe"
dominated the charts for the
first half of 2006, and was the year's #3 domestic
best-seller. The home
entertainment release of "High School Musical,"
became the biggest TV movie
DVD of all-time in most markets. Internationally, BVWHE
performed well
holding many of the top selling DVDs in most markets, with
"Pirates,"
"Narnia," and "Cars" leading the pack.
Buena Vista Music Group achieved unprecedented success
in 2006,
culminating in 11 Grammy nominations -- the most ever in
the music group's
history. The Group's biggest success for the year was the
soundtrack to the
hit Disney Channel Original Movie, "High School
Musical," which is the #1
top-selling album across all genres for the year-to-date,
and has been
certified triple platinum. Country superstars Rascal Flatts
new CD, "Me and
My Gang" also went triple platinum and holds the 2006
record for
highest-selling debut week. The soundtrack to "Hannah
Montana" is BVMG's
third #1 album of the year, and was recently certified
double platinum.
Miramax Films took home the Oscar for Best
Foreign-Language Film this
year for its hard-hitting drama, "Tsotsi."
"The Queen," directed by Stephen
Frears and starring Helen Mirren, has received critical
acclaim and
nominations (including four Golden Globes -- Best Motion
Picture, Best
Director, Best Performance by an Actress and Best
Screenplay) from numerous
critics around the world. The year-end release of
"Venus," starring Peter
O'Toole has received similar attention.
Buena Vista Theatrical Group added to its impressive
track record with
the Broadway debuts of "Tarzan" and "Mary
Poppins." "Beauty and the Beast"
celebrated its 12th anniversary on Broadway and became the
sixth
longest-running show in Broadway history. In 2007,
"The Lion King" will
celebrate its 10th year in New York. It has been seen by
nearly 40 million
people worldwide. A new musical based on the 1989 animated
film, "The
Little Mermaid," will make its world premiere in
Denver in June 2007.
SOURCE The Walt Disney Studios
PR
2007'02.11.Sun
Xinhua Finance/MNI China Business Survey: Sentiment Bullish
December 29, 2006
SHANGHAI, China, Dec. 29 /Xinhua-PRNewswire/ -- Xinhua
Finance (TSE Mothers: 9399) and Market News International
(MNI), a part of the news service line of Xinhua Finance,
today announced the December Xinhua Finance/MNI China
business sentiment survey. The results of the survey
suggest operating conditions for Chinese companies are good
and getting better, with firms able to raise their sales
prices even in the face of climbing raw materials costs.
(Logo:
http://www.xprn.com.cn:9080/xprn/sa/200611140926.gif )
That has resulted in companies reporting that they are
in their best financial shape in the survey's near-two year
history, while indices covering factors such as new orders
continued to show solid improvements after dipping earlier
in the year on the back of government efforts to cool
lending and investment activity.
Sentiment is looking even better in the future, with
the index measuring where respondents see overall business
conditions in three months hitting its highest level since
the start of 2006.
The survey was conducted December 11-26 with 121 listed
companies responding. A result greater than 50 implies
growth or improving conditions (see accompanying story for
more on the survey methodology). The full survey results
can be found at
http://www.xinhuafinance.com/en/main/chinabizsurvey.html
"The changes in companies' expectations are fairly
remarkable," said Logan Wright, a Beijing-based analyst
with Stone & McCarthy, a sister company of Market News
International.
"In previous months, companies expected lower
sentiment levels in 2007; however, the December survey data
indicate that companies appear to have shaken off those
fears, and expect constant or even improving conditions in
the new year."
The index measuring current overall conditions stood at
75.21 in December, down only marginally on the previous
month's 75.67 which remains the second highest reading
since the survey began in the first quarter of 2005.
Sentiment began to turn around in October, following
six months of government tightening measures aimed at
reining in credit and investment levels. Beijing has so
far avoided taking tougher action, choosing instead to
target the liquidity sitting on bank balance sheets. But
concerns that borrowing costs are headed higher have not
dissipated.
The markets were roiled earlier in December by rumors
that the People's Bank of China had been cleared by the
central government to raise benchmark lending rates for
what would have been the third time this year. That hasn't
affected the ability of companies to borrow. The credit
availability index hit 64.08 in December, the highest in
the survey's history.
The index measuring the interest rates that companies
are paying rose to 61.32 in December from 57.14 in
November, while interest rate expectations three months out
jumped to 65.09, its highest level since the first quarter
of 2005.
That said, concerns about higher rates aren't affecting
the flow of business, with the improvement in conditions
reflected in indices such as that measuring the prices that
companies are receiving for their goods, which showed steady
improvement for the fourth survey in a row. The index hit
61.61 in December, the highest reading since the first
quarter of 2005, while the index measuring future
expectations for prices received was also positive, rising
to 58.48 from November's 55.14.
The new orders index rose to 74.04, returning to levels
last seen in the second quarter.
Improved price traction has come even as companies
report rising raw materials prices.
Although falling prices for raw materials such as oil
saw the index measuring input prices falling for four
surveys in a row, it bounced back in December, leaping to
67.11 from November's 57.19.
"Lead prices are at a high level, and we don't see
them falling in the short-term. This means high costs,"
said one respondent.
But rising costs and interest rate concerns don't
appear to be enough to have impacted corporate balance
sheets, with the index measuring the financial position of
companies hitting 73.31, the highest reading in the
survey's history, and up from 71.72 in October. Worries
about higher interest payments also haven't affected how
companies see the future, with the index measuring
financial positions three months out hitting 78.39, its
highest reading since the first quarter of this year.
"Despite rising input prices, Chinese companies
are still confident that they will maintain pricing power
in the marketplace," said SMRA's Wright.
"This is likely a factor behind the high level of
the financial position indicator in December and the
expectations of stronger overall business conditions moving
forward."
Seasonality also played its part in the survey results.
While the fourth quarter tends to be the busiest year in
the calendar -- particularly for Chinese exporters working
to meet the Christmas rush -- the Chinese New Year, which
comes in January or February, invariably guarantees that
the first three months of the year are the slowest.
"Conditions are affected by the seasons. The first
quarter is usually our low season," said one
respondent.
The index measuring inventories of finished goods rose
back to 50.00 this month, up nearly ten points over
November's reading, suggesting that warehouses are filling
up again after the Christmas season drawdown. The index
measuring production rose to 73.85 in December, the highest
reading since the first quarter of this year.
Xinhua Finance/MNI China Business Survey Methodology
The Xinhua Finance/MNI China Business Sentiment Survey
was conducted December 11-26 with 121 listed companies
taking part.
Survey questions were modeled on Japan's Tankan survey
and the U.S. Institute for Supply Management's Report on
Business.
Results were compiled for both current conditions
compared with a month ago and for expectations of
conditions one month ahead.
Indexes were compiled using the Institute for Supply
Management's example: adding half of the percentage saying
conditions were unchanged to the percentage of those saying
conditions had improved generated the index. Therefore, a
result higher than 50 indicates a net positive response.
Companies agreed to participate in the survey, and to
provide comments about business conditions, under the
assurance that individual survey responses would not be
divulged except as part of the overall results.
Companies surveyed were all listed on domestic stock
markets or in Hong Kong, although some also have foreign
listings. The companies chosen were a mix of manufacturers
and non-manufacturers with about 75% of the companies
responding to the survey in manufacturing.
About Xinhua Finance Limited
Xinhua Finance Limited is China's unchallenged leader
in financial information and media, and is listed on the
Mothers board of the Tokyo Stock Exchange (symbol: 9399)
(OTC ADRs: XHFNY). Bridging China's financial markets and
the world, Xinhua Finance serves financial institutions,
corporations and re-distributors through four focused and
complementary service lines: Indices, Ratings, Financial
News and Investor Relations. Founded in November 1999, the
Company is headquartered in Shanghai with 20 news bureaus
and offices in 19 locations across Asia, Australia, North
America and Europe.
For more information, please visit
http://www.xinhuafinance.com .
About Market News International
Market News International (MNI), a Xinhua Finance
company ( http://www.xinhuafinance.com ), is a financial
news and information company dedicated to the global fixed
income and foreign exchange markets. MNI joined the Xinhua
Finance family in March 2004, bringing its niche expertise
and extensive distribution network. Headquartered in New
York, MNI has news bureaus and offices throughout the US,
Europe and Asia.
With more than twenty years of history, MNI is a fully
accredited news agency providing focused, timely, relevant
and critical intelligence for market professionals. Its
press credentials are accepted by all operations of the
U.S. Government, including the White House, the Federal
Reserve, both houses of Congress, all major agencies and
cabinet departments, all similar government operations in
the G-7 countries, as well as by supranational
organizations such as the World Bank and the International
Monetary Fund.
For more information, please contact:
Ms. Joy Tsang
Xinhua Finance
Hong Kong/Shanghai
Tel: +852-3196-3983 / +852-9486-4364 /
+86-21-6113-5999
Email: joy.tsang@xinhuafinance.com
Mr. Sun Jiong
Xinhua Finance
Japan
Tel: +81-3-3221-9500
Email: jsun@xinhuafinance.com
Mr. James Hawrylak
Taylor Rafferty (Media/IR Contact)
Japan
Tel: +81-3-5733-2621
Email: james.hawrylak@taylor-rafferty.com
Ms. Ishviene Arora
Taylor Rafferty (Media/IR Contact)
United States
Tel: +1-212-889-4350
Email: ishviene.arora@taylor-rafferty.com
Mr. John Dudzinsky
Taylor Rafferty (Media/IR Contact)
Europe
Tel: +44-20-7614-2900
Email: john.dudzinsky@taylor-rafferty.co.uk
SOURCE Xinhua Finance Limited
2007'02.11.Sun
New ENSR Director of China Operations - Feng Weiqing
December 28, 2006
ENSR Expands International Business Outreach to China and
Multi-Nationals
SHANGHAI, China and WESTFORD, Mass., Dec. 28
/Xinhua-PRNewswire/ -- Feng Weiqing has joined ENSR as
director, China Operations. ENSR is a leading global
environmental services firm. Based in ENSR's Shanghai
Office, Weiqing is responsible for all operational
activities in China, as well as business development with
key clients. ENSR has a rapidly expanding presence in
China with four offices in Hong Kong, Beijing, Guangzhou,
and Shanghai.
Weiqing is a highly experienced environmental manager
with over fifteen years of experience in environmental site
assessments, remediation and waste management, and
environmental, health and safety compliance. An
experienced geologist, he has technical expertise in
geological and geotechnical engineering. His extensive
environmental experience includes working with a broad
range of industries including manufacturing,
pharmaceutical, energy, and the chemical industry in
regions throughout China and Asia. Before joining ENSR,
Weiqing was the general manager of MHW Shanghai Operations,
and led a major EHS consulting and wastewater EPC practice.
He was also one of the founders of ENVIRON China.
According to Mike Chan, ENSR vice president of Asia
Operations, "Feng's credentials and broad business
experience and contacts across China are a tremendous asset
in our effort to extend ENSR's services to Multi-nationals
and Chinese major industrial companies in this rapidly
developing economy."
Weiqing holds a master's degree in marine geology and a
bachelor's degree in geology from Tongji University in
Shanghai, China. He is also a professionally registered
OSHMS auditor in China.
ENSR, an AECOM company, is a worldwide environmental
service leader serving industrial and commercial companies
and government agencies with 1,700 employees and 60
worldwide offices. ENSR provides consulting, engineering,
remediation, and environmental health and safety management
solutions. The recipient of the EBJ Gold Medal for biggest
achievement, ENSR has received four BP Health, Safety,
Security and Environment Awards (HSSE), two Textron
Environmental Remediation Partner in Excellence Awards, and
an ExxonMobil Asia Pacific Safety Award in Malaysia.
About AECOM
AECOM is a leading global provider of design and
management services in the transportation, facilities and
environmental markets. With approximately 28,000 employees
around the world, AECOM is a leader in all of the key
markets that it serves. AECOM companies provide a unique
blend of global reach, local knowledge, innovation and
technical excellence in delivering outstanding solutions
that create a better world in which to live and work.
Named in Forbes' list of the largest private companies,
AECOM serves clients in more than 60 countries and has
annual revenue of approximately $3.4 billion. More
information on AECOM and its services can be found at
http://www.aecom.com
For more information, please contact:
John Petraglia
ENSR
Tel: +1-800-722-2440
SOURCE ENSR
2007'02.11.Sun
SmartPay Expands Mobile Air Ticketing Payments Services
December 27, 2006
SmartPay Expands Mobile Air Ticketing Payments Services
Industry leader Leverages its creativity in Mobile Payment
Services Field
SHANGHAI, China, Dec. 27 /Xinhua-PRNewswire/ --
Shanghai SmartPay Jieyin Ltd., ("SmartPay") an
electronic payment services leader in China, today
officially announced an aggressive expansion into the
airline e-ticketing market.
After successfully launching its mobile payment
services such as cellular phone top-up and utility bill
payment, SmartPay will leverage its technology and presence
with banks, merchants and partners to rapidly expand its
presence in the electronic air ticketing market.
SmartPay's mobile airline ticketing service was
launched in trial mode in Chongqing and Anhui in the third
and fourth quarters of 2006. Consumers contact SmartPay's
local call centers to apply (023-8903-1003 in Chongqing and
0551-263-0583 in Anhui). Expansion will now roll out across
the 12 provinces in which SmartPay has a local presence.
These will include Shanghai, Beijing and Guangzhou.
As a leading electronic payment services expert in
China, SmartPay will leverage its creativity on payment
service models, local market presence and network of
partnerships as it expands in mobile air ticketing.
SmartPay will also utilize multiple channels to address air
ticketing consumers, such as SMS, KJAVA and WAP via mobile
phones, IVR via mobile and fixed line telephones, and
credit card payments.
SmartPay's CEO, Greg Shen, commented, "Airline
e-ticketing is one of the most rapidly increasing markets
among the electronic payment industry. SmartPay will
continuously strengthen the strategic partnership with the
major banks, airlines and air ticket agencies, and realize
the vision of `SmartPay Payment, Anytime, Anywhere', so as
to better satisfy the desire of customers while
consolidating SmartPay's leading position in domestic
mobile payment industry."
The electronic payment market has been growing at more
than 30 percent a year in recent years. The related data
from the market research companies shows that the Gross
Merchandise Volume (GMV) in this market in 2006 will reach
RMB 60 billion, and the GMV in 2007 is expected to exceed
RMB 70 billion. Mobile payment in China is particularly
promising. Forecasts suggest that transaction volumes will
reach RMB 640 million, a 75% increase over full year 2005.
In 2007, the GMV of the mobile payment market is expected
to achieve more than RMB 6 billion.
About SmartPay Jieyin Ltd.
SmartPay provides remote payment services in China
under the brand name "Jieyin". Chinese consumers
and intermediaries utilize SmartPay Jieyin for the payment
of mobile, utility, travel-related and other payments.
SmartPay continues to launch additional payment services
under the "Jieyin" brand name. Investors in
SmartPay include RRE Ventures ( http://www.rre.com ),
Evolution Capital, Lunar Group Capital, Accel Partners and
others.
For more information, please contact:
Ada Gu
PR Manager
SmartPay Jieyin Ltd.
East Ocean Plaza II
9th Floor
618 Yan'an East Road
Shanghai 200001
China
Tel: +86-21-5385-5299
Fax: +86-21-5385-5320
Email: cui.gu@smartpay.com.cn
Web: http://corp.smartpay.com.cn
SOURCE SmartPay Jieyin Ltd.
2007'02.11.Sun
WuXi PharmaTech Recertified ISO 9001:2000
December 26, 2006
SHANGHAI, China, Dec. 26 /Xinhua-PRNewswire/ -- WuXi
PharmaTech's 250,000 square foot JinShan GMP manufacturing
wholly owned subsidiary, SynTheAll Pharmaceuticals,
announced today that it has been recertified International
Organization for Standardization (ISO) 9001:2000 compliant
by SGS, a third-party auditing firm.
(Logo:
http://www.xprn.com.cn:9080/xprn/sa/200611271812.jpg )
Established in 2004 as the manufacturing unit of WuXi
PharmaTech, China's leading supplier of pharmaceutical
R&D outsourcing services, SynTheAll Pharmaceuticals was
initially ISO 9001:2000 certified last year. SynTheAll
provides GMP manufacturing services including process
research, scale-up production, and Active Pharmaceutical
Intermediates (API) and advanced intermediates
manufacturing.
"Receiving ISO 9001:2000 recertification is
testament to our unwavering commitment to quality, process
consistency, and continuous improvement. At WuXi
PharmaTech, we are continuously raising the bar for our
quality expectations and standards. It is wonderful to be
again recognized by ISO, however our most difficult
standard to meet, is our own," commented Dr. Ge Li,
Chairman and CEO of WuXi PharmaTech.
SGS is the world's leading inspection, verification,
testing and certification company. SGS is recognized as
the global benchmark for quality and integrity. With more
than 46,000 employees, SGS operates a network of over 1,000
offices and laboratories around the world.
ISO is a network of the national standards institutes
of 156 countries. ISO standards specify the requirements
for state-of-the-art products, services, processes,
materials and systems, and for good conformity assessment,
managerial and organizational practice. ISO 9001:2000 is
based on eight quality management principles: customer
focus, leadership, involvement of people, process approach,
system approach, continual improvement, fact based decision
making, and mutually beneficial supplier relationships.
About WuXi PharmaTech
Founded in 2001, Shanghai-based WuXi PharmaTech is
China's leading drug R&D service company. As a
research-driven and customer-focused company, WuXi
PharmaTech offers global pharmaceutical and
biopharmaceutical companies a diverse, value-added, and
fully integrated portfolio of outsourcing services ranging
from discovery chemistry, service biology to bioanalytical
chemistry, from process chemistry to large scale GMP
manufacturing. WuXi PharmaTech assists its global partners
in shorting the cycle and lowering the cost of drug
discovery and development by providing cost-effective and
efficient outsourcing solutions that save our clients both
time and money. Currently, our client list consists of 19
of the top 20 pharmaceutical, and 8 of the top 10
biopharmaceutical companies. For more information please
visit http://www.pharmatechs.com .
For more information, please contact:
Sherry Shao
Tel: +86-21-5046-4002
Email: PR@pharmatechs.com
SOURCE WuXi PharmaTech Co., Ltd.
2007'02.11.Sun
Digital Media Group Closes Series B Round of Funding
December 26, 2006
SHANGHAI, China, Dec. 26 /Xinhua-PRNewswire/ -- Digital
Media Group Company Limited ("DMG"), China's
leading operator of digital media networks inside subway
systems, today announced that it has closed its Series B
round of funding from four investors. The round was led by
Oak Investment Partners and included Sierra Ventures, NIF
SMBC Ventures and Gobi Partners. Gobi, NTT DoCoMo and
Dentsu participated in DMG's Series A round in early 2005.
"This international syndicate brings together some
of the world's biggest and most experienced venture capital
firms," said James Lim, Chief Executive Officer of
DMG. "With this new capital injection, we will
continue to upgrade and deliver the best services to the
metro authorities and their passengers."
DMG pioneered the application of information
technologies in out-of-home media and developed a patented
PIDS (Passenger Information and Direction System) that can
provide service information and entertainment to enhance
the overall passenger experience within subway systems.
"We are excited to be working with DMG. The Company
operates at the intersection of two mega-trends in China:
massive subway construction and rapid growth in
digital-out-of-home (DOOH) advertising," said Ren
Riley, partner of Oak.
DMG delivers information and advertising through
thousands of on-platform and in-car flat panel displays to
millions of passengers a day in the biggest Chinese cities
including Chongqing, Hong Kong, Nanjing, Shanghai,
Shenzhen, and Tianjin. "DMG's platform helps
advertisers reach out to China's massive consumer
population in an effective and interactive manner,"
said Ben Yu, partner of Sierra.
"DMG is a next generation DOOH media company with
unique competitive advantages," said Wai Kit Lau,
Chairman of DMG and partner of Gobi. "Its advanced
technology and deep relationships with the metro
authorities create significant barriers to entry."
About Digital Media Group
Digital Media Group is China's leading operator of
digital media networks inside subway systems.
Headquartered in Shanghai, DMG installed China's first
multimedia passenger information display system in the
Shanghai subway in 2003. The system provides updated
train and emergency information along with information and
advertising to passengers, helping subway authorities to
operate more effectively. DMG now has offices in Hong
Kong, Shanghai, Beijing, Tianjin, Nanjing, Shenzhen and
Chongqing. There are over 13,000 flat panel displays in
DMG's network reaching more than 28 million people per
week. The network is expected to double in two years
expanding to cities all around Asia. For more information,
please visit http://www.DMGtv.com .
About Oak Investment Partners
Oak Investment Partners is a multi-stage venture
capital firm with a total of $8.4 billion in committed
capital. The primary investment focus is on high growth
opportunities in communications, information technology,
new media, financial services information technology,
healthcare services and consumer retail. Over a 28-year
history, Oak has achieved a strong track record as a
stage-independent investor funding more than 435 companies
at key points in their lifecycle. Oak has been involved in
the formation of companies, funded spinouts of operating
divisions and technology assets, and provided growth equity
to mid- and late-stage private businesses and to public
companies through PIPE investments. For more information,
please visit http://www.OakVC.com .
About Sierra Ventures
Sierra Ventures, founded in 1982, is a privately held
venture capital firm focused on investments across all
areas of the Information Technology sector from
semiconductors to enterprise software. Sierra Ventures has
managed nine venture capital partnerships and currently has
more than $1.5 billion of capital under management. Some
of the firm's investments include 360Commerce (acquired by
Oracle), Active Software (acquired by WebMethods),
AmeriGroup (AGP), Centex (acquired by WorldCom),
ConvergeNet (acquired by Dell), FatBrain (acquired by
Barnes & Noble), Frontbridge (acquired by Microsoft),
Healtheon (merged with WebMD), Interact Commerce (acquired
by Sage), Intuit (INTU), Micromuse (acquired by IBM),
OnAssignment (ASGN), OnLink (acquired by Siebel), Quinta
(acquired by Seagate), StrataCom (acquired by Cisco),
Sychip (acquired by Murata Manufacturing) and Teradata
(acquired by NCR). More information is available at
http://www.sierraventures.com .
About NIF SMBC Ventures
On October 1, 2005, NIF Ventures (Daiwa Securities
Group) and SMBC Capital (Sumitomo Mitsui Financial Group)
merged to form NIF SMBC Ventures. We believe synergy will
be created through the integration of the respective
advantages and business characteristics of the two
companies, which held secure positions in the venture
capital industry. NIF Ventures was established in 1982 as
a venture capital firm affiliated with Daiwa Securities,
and it has contributed to the creation of a number of
listed companies through the establishment and operation of
funds which fit the market needs and managerial support of
investees. Similarly, SMBC Capital, with the network and
financial resources of the Sumitomo Mitsui Financial Group,
has shown skill in finding great opportunities and has
invested in various unlisted companies in an investment
framework that includes expertise in corporate transactions
and the ability to undertake business research. NIF SMBC
Ventures, the newly-created venture capital company, formed
by integrating these two precursors, will not only secure a
comprehensive business network, but also establish an
outstanding service structure that integrates expertise in
the entire business processes of finding investment
targets, listing their stocks, and ultimately carrying out
mergers and acquisitions. For more information, please
visit http://www.NIFSMBC.co.jp .
About Gobi Partners
Gobi Partners is a Shanghai-based venture capital firm
focused on early stage investments in China's digital media
sector. Gobi defines digital media as a new form of
communication emerging from the convergence in
telecommunications, media and technology. Gobi invests in
companies that are pushing the frontier, integrating gaps
or enabling consolidation within the digital media value
chain. The Gobi Fund includes IBM, NTT DoCoMo, Sierra
Ventures, McGraw-Hill and Steamboat Ventures (the VC arm of
Disney) as investors. For more information, please visit
http://www.GobiVC.com .
For more information, please contact:
Philip Wong
Digital Media Group
Tel: +86-21-6288-6339 x12
Email: philip.wong@dmgtv.com
SOURCE Digital Media Group Co., Ltd.
2007'02.11.Sun
Websense to Acquire Information Leak Prevention Leader PortAuthority Technologies, Inc.
December 25, 2006
SAN DIEGO and PALO ALTO, Calif., Dec. 25
/Xinhua-PRNewswire/ -- Websense, Inc. (Nasdaq: WBSN) today
announced a definitive agreement to acquire PortAuthority
Technologies, Inc., of Palo Alto, Calif., and Ra'anana,
Israel, for approximately $90 million in cash.
The planned acquisition will bring together two
technology and market leaders in preemptive content
security: PortAuthority with its information leak
prevention technology and Websense with its
ThreatSeeker(TM) malicious content identification and
categorization technology. The result will be a new
best-of-breed security software company with the
capabilities to help organizations prevent the unauthorized
use or disclosure of confidential data while simultaneously
protecting users and data from external malicious threats.
Through an existing OEM technology alliance established
in September of this year, Websense has been working with
PortAuthority to enhance the Websense(R) Deep Content
Control(TM) technology to deliver comprehensive security
solutions that protect users and data from internal and
external threats, both known and emerging.
Combining Websense's ThreatSeeker malicious content
identification and categorization technology with
PortAuthority's PreciseID(TM) data fingerprinting
technology into a single integrated offering will allow
organizations to manage how confidential data is permitted
to leave an organization and under what circumstances.
With deep knowledge of Internet destinations, protocols and
applications, along with detailed fingerprints of internal
data, Websense Deep Content Control technology will help
protect information flowing through the network, including
outbound, internal and Web-based email; Web postings;
instant messaging; file transfers and network printing.
Additionally, both technologies will use an integrated
policy engine to give organizations the unique ability to
manage and protect information by individual user rather
than by device or Internet protocol address.
"Today's high impact security threats aren't about
a worm overloading your mail system. They are about people
stealing your proprietary information," said Gene
Hodges, CEO, Websense. "Websense and PortAuthority
are solving this problem today by helping companies prevent
Web-based information theft and internal information
leakage."
"Through this planned acquisition, Websense gains
not only PortAuthority technology but the security-savvy
engineers that have developed this industry-leading
technology," added Hodges. "Websense is
committed to maintaining PortAuthority's research and
development presence in Israel and retaining the
engineering talent responsible for this innovative
technology."
The market for data-centric content control is growing.
IDC predicts that this market will grow from $194.0 million
in 2007 to $434.6 million in 2009, representing a nearly 50
percent compound annual growth rate.*
"Websense and PortAuthority provide unique
solutions to the information protection puzzle --
protecting information from the inside and outside,"
said Pete Foley, CEO, PortAuthority. "This
acquisition is a natural evolution for both companies given
the synergies between Websense's security software, research
and content classification, and our award-winning
information leak prevention software."
Websense plans to deliver its information leak
prevention software through worldwide channel partners,
including those with an existing relationship with
PortAuthority.
The stockholders of PortAuthority have approved the
proposed acquisition, to be effected via a merger between a
subsidiary of Websense and PortAuthority. The closing of
the merger is subject to standard closing conditions and is
expected to close in January 2007.
Upon closure of the transaction, Websense will assume
the assets and liabilities of PortAuthority, including
approximately $5 million in working capital and $4 million
in indebtedness. The transaction is expected to be
dilutive to Websense non-GAAP earnings per share by 10 to
15 cents in 2007 and slightly accretive in 2008. Due to
the absence at this time of estimates of the
acquisition-related costs and the allocation of the
purchase price between goodwill, in-process R&D, other
intangibles and equity-based compensation expenses related
to SFAS 123R, we are currently unable to provide GAAP
estimates for future earnings.
For more information about PortAuthority Technologies,
Inc., visit http://www.portauthoritytech.com .
Conference Call
Websense is hosting a conference call and simultaneous
webcast today at 9:00 a.m. EST (6:00 a.m. PST), to discuss
the announcement. To participate in the call, investors
should dial +1-888-208-1812 (domestic) or +1-719-457-2654
(international) 10 minutes prior to the scheduled start of
the call. The webcast may be accessed via the Internet at
http//:www.websense.com/investors . An audio archive of the
webcast will be available on the company's Web site through
Tuesday, January 30, 2007, and a taped replay of the call
will be available for one week at +1-888-203-1112 or
+1-719-457-0820, passcode 3161347.
About Websense, Inc.
Websense, Inc. (Nasdaq: WBSN), a global leader in Web
security and Web filtering software, is trusted to protect
24 million employees worldwide. Websense proactively
discovers and immediately protects customers against
web-based threats such as spyware, phishing attacks,
viruses and crimeware with maximum protection and minimal
effort. With diverse partnerships and integrations,
Websense enhances our customers' network and security
environments. For more information, visit
http://www.websense.com .
* IDC's "Worldwide Outbound Content Compliance
2005-2009 Forecast and Analysis: IT Security Turns Inside
Out," November, 2005.
Websense and Websense Enterprise are registered
trademarks of Websense, Inc. in the United States and
certain international markets. Websense has numerous other
unregistered trademarks in the United States and
internationally. All other trademarks are the property of
their respective owners.
This press release contains forward-looking statements
that involve risks, uncertainties, assumptions and other
factors which, if they do not materialize or prove correct,
could cause Websense's results to differ materially from
historical results or those expressed or implied by such
forward-looking statements. All statements, other than
statements of historical fact, are statements that could be
deemed forward-looking statements, including statements
related to the potential benefits of the merger, the timing
of the expected closing of the merger and statements
containing the words "planned,"
"expects," "believes,"
"strategy," "opportunity,"
"anticipates" and similar words. The potential
risks and uncertainties which contribute to the uncertain
nature of these statements include, among others, risks
relating to PortAuthority's business that were not
identified through diligence, risks related to integration
of acquisitions, risks related to maintaining an
engineering group in Israel, execution of growth
initiatives, customer acceptance of the company's services,
products and fee structures; changes in domestic and
international market conditions and the entry into and
development of international markets for the company's
products; risks relating to intellectual property
ownership; and the other risks and uncertainties described
in Websense's public filings with the Securities and
Exchange Commission, available at http://www.sec.gov .
Websense assumes no obligation to update any
forward-looking statement to reflect events or
circumstances arising after the date on which it was made.
For more information, please contact:
Cas Purdy (Media)
Websense, Inc.
Tel: +1-858-320-9493
Email: cpurdy@websense.com
Kate Patterson (Investors)
Websense, Inc.
Tel: +1-858-320-8072
Email: kpatterson@websense.com
Dan Spalding (Media)
PortAuthority Technologies
Tel: +1-650-739-0100 x138
Email: dan.spalding@portauthoritytech.com
SOURCE Websense, Inc.
2007'02.11.Sun
Mitsubishi Corporation Leads New Round Fundraising of RoadWay
December 25, 2006
SHANGHAI, China, Dec. 25 /Xinhua-PRNewswire/ --
Shanghai based direct marketing leader, RoadWay Direct
Marketing Services Co., Ltd ("RoadWay") announces
the closing of a US$1M new round of fundraising. The
investment was led by Mitsubishi Corporation. RoadWay
completed a first round of fundraising, led by China Seed
Ventures, in March 2006.
"This transaction indicates the strong confidence
and interest of Mitsubishi Corporation in the
quickly-growing direct marketing businesses in China,"
said Dixon (Jiang) Yuan, the CEO of RoadWay. After this
round of fundraising, RoadWay will accelerate its national
expansion; the company will be able to put more resources
in product and services innovation; and will leverage the
excellent platform of Mitsubishi Corporation to enhance its
efforts in developing Japanese clients in China and in
Japan. Facing increasing competition from international
rivals, Mr. Yuan's strategy for the company is:
"expanding aggressively, building up brand name and
establishing higher entry barrier." "RoadWay has
over 5 years experience in China market and owns obvious
advantages in understanding the local market and reacting
and adjusting swiftly," Mr. Yuan said.
"We are very pleased to see such a high-quality
international strategic investor as Mitsubishi Corporation
taking an equity interest in RoadWay," said Mr. Earl
Yen, managing director of China Seed Ventures. "We
look forward to Mitsubishi Corporation's help and guidance
as RoadWay embarks on its next phase of growth and market
leadership."
About RoadWay
RoadWay Direct Marketing Services Co., Ltd (
http://www.roadway.com.cn ) is a leading provider of
integrated services of direct marketing in China. Based on
its powerful database and experienced project execution
team, RoadWay is designing and executing integrated direct
marketing solutions for hundreds of marketers through
multiple ways, such as direct mail, email, Fax, telephone,
etc. The company also released a beta version of its
Internet-based database search and marketing tool, DMSys (
http://www.dmsys.com.cn ) in Sept 2006.
About Mitsubishi Corporation
Mitsubishi Corporation ( http://www.mitsubishicorp.com
) is Japan's largest general trading company (sogo shosha)
with over 200 bases of operations in approximately 80
countries worldwide. Together with its over 500 group
companies, MC employs a multinational workforce of
approximately 54,000 people. MC has long been engaged in
business with customers around the world in virtually every
industry, including energy, metals, machinery, chemicals,
food and general merchandise.
About China Seed Ventures
China Seed Ventures ( http://www.cseed.cn ) is a
seed-stage China-focused venture capital firm targeting
investments in seed and early-stage technology and
technology-related services companies in Greater China.
China Seed's partners combine extensive venture capital,
operating and China market experiences to assist
entrepreneurs in creating industry-leading companies.
Headquartered in Shanghai and with partners in San
Francisco and Tokyo, China Seed offers access to high
quality partners in Asia and the United States and an
extensive network of resources to support its Chinese
portfolio companies.
For more information, please contact:
Angela Li
Tel: +86-21-5308-5500 X912
Email: angela_li@roadway.com.cn
SOURCE RoadWay Direct Marketing Services Co., Ltd.
2007'02.11.Sun
Far EasTone Adopts Miyowa's Mobile Instant Messaging Solution
December 25, 2006
-- For both i-mode and WAP platforms, Far EasTone has
chosen
MoveMessenger(TM), the Miyowa's universal mobile
instant messaging
technology.
-- After Starhub (Singapore), Taiwanese Far EasTone is
the second Asian
mobile operator to adopt Miyowa's Instant Messaging
platform.
-- Miyowa will strengthen its commercial efforts in
Asia.
PARIS, Dec. 25 /Xinhua-PRNewswire/ -- Miyowa announced
today that it has successfully launched the WAP version of
its mobile instant messaging technology --
MoveMessenger(TM) -- at Far EasTone(FET), a few weeks after
the rebranding of the i-mode portal to Windows Live
Messenger(TM).
The six million WAP and i-mode FET's customers can
access Windows Live Messenger(TM) from their mobile phones.
Miyowa provides FET with a turnkey solution, including the
Windows Live Messenger(TM) certified application, billing
connectivity and the design and build of the WAP interface,
where end-users can download the messenger.
"FET appreciates to be the first and the only
operator to launch MSN messenger service in Taiwan. After
launching the i-mode version in February and win acceptance
from our customers, lots of non i-mode customers also ask
for similar service. We got the fully support from Miyowa
and finally launched our J2ME version. I am here to
represent FET and deliver our thanks to Miyowa who provides
this technology for the benefit of our customers. I also
believe that there will be more cooperation with Miyowa in
the future to bring in more new technology and service to
Taiwan's customers" said Roger Chen, Director of
Business Strategy & Marketing of Far EasTone.
"The fast and easy deployment to the WAP platform
shows how universal and adaptive our solution is. We are
very happy of this launch at Far EasTone. After Starhub in
Singapore, Taiwan is an important new step in Asia, which
will help supporting our development in this region of the
world." said Pascal Lorne, CEO of Miyowa.
Thanks to the close relationships of Miyowa with the
major Instant Messaging PC brands, the MoveMessenger(TM)
technology relies on the biggest existing communities and
seamlessly extends the familiar PC Instant Messenger to the
mobile environment, helping operators not create their
communities from scratch!
Miyowa delivers its solution in one new country per
month and has today 15 mobile operator customers in Europe,
Asia and Australia for Instant Messaging services and also
for entertainment content delivery.
For more information, please contact:
Press contact @ Miyowa:
Yann Mondon,
Tel: +33-630-512-294
Email: yann@miyowa.com
Public Relations, Far EasTone:
Nancy Wu
Tel: +886-955-21-5612
Email: yuhanwu@fareastone.com.tw
SOURCE Miyowa
2007'02.11.Sun
New High-Performance, Production-Ready TMS320C6454 DSP From Texas Instruments Supplies 2X Improvements in Memory and I/O Bandwidth at Lower Price
December 22, 2006
Best-Selling High-Performance TMS320C64x(TM) DSP Platform
Now Offers
Affordable, Proven Migration Path for High-End Systems
HOUSTON, Dec. 22 /Xinhua-PRNewswire/ -- Allowing
designers to transition
to higher-performing digital signal processors (DSPs)
without compromising
price, Texas Instruments Incorporated (TI) (NYSE: TXN)
today announced the
availability of the cost-effective, high-performance
TMS320C6454 DSP.
Targeted for a myriad of infrastructure equipments
including high-end
telecom, wireless infrastructure, and video and imaging
applications, the new
1-GHz C6454 DSP is based on the improved TMS320C64x+(TM)
DSP core and TI's
highest-performing DSP architecture. The C6454 DSP
provides developers with
twice the memory and I/O bandwidth of the popular
TMS320C641x DSPs, as well
as other advanced features and specialization that are
needed to create next-
generation systems requiring high processing performance
and sufficient
memory at an affordable price. Currently, over 10 million
C641x DSPs have
been sold to over 400 customers, making it the most
deployed high-performance
DSP generation. TI also announced that the TMS320C6455 DSP
is in production,
making it the only DSP with Serial RapidIO(TM) (sRIO) in
production. For
more information, please visit
http://www.ti.com/c6454pr.com .
(Logo:
http://www.xprn.com.cn:9080/xprn/sa/20061107170439-20.jpg
)
(Photo:
http://211.154.41.99:9080/xprn/sa/200612221258.jpg )
(Photo:
http://211.154.41.99:9080/xprn/sa/200612221300.jpg )
C6454 DSP Key Customer Benefits
* A 2X improvement in memory and I/O bandwidth over
C641x plus gigabit
Ethernet at a similar price to the TMS320C6415 DSP at
the same speed
grade
* Similar performance to C6455 DSP for 25% less cost
* Enhanced C64x+ DSP core provides 20% higher cycle
performance and
20-30% reduction in code size while providing 100%
code compatible with
TMS320C64x TM DSPs.
The C6454 DSP provides an ideal migration path for the
many TI customers
who are currently using C641x DSPs by offering full code
compatibility and
boosted performance without requiring additional investment
in software
engineering. The C6454 DSP achieves 8000 MMAC (million
multiply accumulate
cycles per second) and four times the EDMA (enhanced direct
memory access)
throughput of the core used in the earlier devices. For
new designers
looking for a high-performing DSP in their tailored,
flagship infrastructure
applications, including machine vision, medical imaging and
digital video
products, the C6454 DSP is the optimal choice. It provides
additional
features, such as 1 MB L2 memory, gigabit Ethernet, C64x+
core and increased
DDR2 external memory and cache, and is similarly priced to
C641x devices.
For customers who are using the closely related TMS320C6455
DSP, which is TI'
s first mass market product using the C64x+ core and the
industry's first
DSP with a sRIO bus interface to support the
interprocessing requirements of
bandwidth-intensive applications, the cost-efficient C6454
DSP offers C64x+
peak performance at an affordable price. Designers can
immediately begin
code development for tomorrow's C6454 DSP products using
the C6455
evaluation module (EVM) and DSP Starter Kit (DSK).
"The C6454 DSP is an important enabler for a
universal multimedia port
in next-generation mobile networks that require exceptional
voice and video
services," said Gennady Sirota, Vice President of
product management and
marketing, Starent Networks. "TI's commitment to this
product contributes
to Starent's delivery of superior multimedia performance
with unrivaled
flexibility and performance. Our ST16 Intelligent Mobile
Gateway enhances
the subscriber experience with advanced voice, data, and
multimedia
applications while lowering our customers' operational
expenditures."
Expanding TI's Highest Performing Portfolio
The new C6454 DSP is the latest addition to TI's suite
of high-
performance solutions, the TMS320C64x generation of DSPs.
Comparably priced
with the widely used C641x DSPs but based on the enhanced
C64x+ architecture,
the C6454 DSP offers designers a 20 to 30 percent reduction
in code size to
decrease system costs. The C6454 DSP also achieves a 20
percent increase in
cycle efficiency due to the core's specialized instruction
set with support
for the frequently performed FFT, FIR and DCT operations.
The C6454 DSP is a natural migration path for C641x DSP
developers who
want richer, sophisticated peripherals but for a similar
price. High-speed
peripherals include a Gigabit Ethernet MAC and a 66-MHz
peripheral component
interconnect (PCI) interface to allow video infrastructure,
telecom and video-
imaging customers to meet high-bandwidth interconnections.
The C6454 DSP
doubles L1 data and L1 instruction cache and provides a
twofold increase in
DDR2 external memory at 533 MHz to provide balanced memory
I/O and processor
performance. Since the C6454 DSP is code compatible and is
based on the
C64x+ core, customers also profit from a 4x increase in
EDMA bandwidth and
twice the number of 16-bit MMACs.
The closely related C6454 DSP is a lower cost
alternative to the C6455
DSP that allows customers to reap a $60 saving due to the
reduction in on-
chip L2 memory to 1MB and the removal of peripherals,
including UTOPIA and
sRIO, the Viterbi coprocessor (VCP2) and Turbo coprocessor
(TCP2), which are
not always required in certain designs. For programmers
that demand the
highest-performing C64x DSP platform but not necessarily
the multi-chip
interconnect capabilities, the C6454 DSP without the sRIO
bus is an
affordable, more economical alternative. Developers
presently using the
C6455 DSP who will benefit by transitioning to the C6454
DSP will have
minimal hardware redesign since the two devices are
completely pin-compatible.
"The C6454 DSP is an attractive option for
designers who are ready to
upgrade from C641x DSPs to a higher performing DSP, but do
not necessarily
want all the advanced features of the C6455 DSP," said
Danny Petkevich, DSP
platforms marketing manager, Texas Instruments. "The
new C6454 DSP device
balances the right amount of performance and affordability
for a wider range
of high-end applications."
Hardware and Software Tools to Ease Development
Designers can immediately begin system development on
the C6454 DSP with
the use of the C6455 EVM and DSK. These robust tools
provide a complete
modular development platform for both hardware and
software. Announced in
early 2006 and now in volume production, the EVM and DSK
include TI's award-
winning Code Composer Studio(TM) Platinum integrated
development platform
(IDE) and DSP/BIOS(TM) kernel, allowing customers to start
development at a
higher level of abstraction, which leads to easier software
portability and
faster time-to-market. Developers can also rely on the
industry's largest
DSP third party network for algorithms and additional tools
to produce
sleeker applications cheaper and faster.
Pricing and Availability
The TMS320C6454 DSP is now available for $94 at 720 MHz
in 10Ku from TI
and TI Authorized Distributors. The highly integrated
device is packaged in
a 24 ¡Á 24 mm, 697-lead BGA (ball grid array). The C6455
EVM and DSK are
available for $1795 and $495 from TI and TI Authorized
Distributors. For
more information, please visit http://www.ti.com .
About Texas Instruments
Texas Instruments Incorporated provides innovative DSP
and analog
technologies to meet our customers' real world signal
processing
requirements. In addition to Semiconductor, the company
includes the
Educational & Productivity Solutions business. TI is
headquartered in
Dallas, Texas, and has manufacturing, design or sales
operations in more than
25 countries.
Texas Instruments is traded on the New York Stock
Exchange under the
symbol TXN. More information is located on the World Wide
Web at
http://www.ti.com .
Trademarks
TMS320C64x, C64x, TMS320C64x+, Code Composer Studio and
DSP/BIOS are
trademarks of Texas Instruments. All other trademarks and
registered
trademarks are the property of their respective owners.
For more information, please contact:
Tim Frost
Texas Instruments
Tel: +1-281-274-3223
Email: tfrost@ti.com
Helen Tso
GolinHarris
Tel: +1-713-513-9578
Email: htso@golinharris.com
SOURCE Texas Instruments Incorporated
2007'02.11.Sun
Albemarle Raises Price of SAYTEX(R) Flame Retardant
December 22, 2006
BATON ROUGE, La., Dec. 22 /Xinhua-PRNewswire/ --
Albemarle Corporation
(NYSE: ALB), the world leader in flame retardant solutions
for polymers, will
increase the price for its SAYTEX CP-2000 flame retardant
by US$0.30/kg,
effective globally on all shipments made on or after
February 1, 2007, or as
contracts allow.
(Logo:
http://www.newscom.com/cgi-bin/prnh/20050801/ALBEMARLELOGO
)
Albemarle flame retardants help improve the fire safety
of materials
found in circuit boards, connectors and enclosures for
electronic and
electrical devices; comfort foam in furniture and
automobiles; wire & cable;
and roofing, rigid insulation foam, adhesives, coatings and
other
construction materials.
Albemarle Corporation, headquartered in Richmond,
Virginia, is a leading
global developer, manufacturer and marketer of highly
engineered specialty
chemicals for consumer electronics; petroleum and
petrochemical processing;
transportation and industrial products; pharmaceuticals;
agricultural
products; and construction and packaging materials. The
Company operates in
three business segments -- Polymer Additives, Catalysts and
Fine Chemicals,
and serves customers in approximately 100 countries. Learn
more about
Albemarle's flame retardants at http://www.saytex.com/ and
http://www.albemarle.com/ .
SAYTEX is a registered trademark of Albemarle
Corporation.
"Safe Harbor" Statement under the Private
Securities Litigation Reform
Act of 1995:
Statements in this press release regarding Albemarle
Corporation's
business which are not historical facts are
"forward-looking statements" that
involve risks and uncertainties. For a discussion of such
risks and
uncertainties, which could cause actual results to differ
from those
contained in the forward-looking statements, see "Risk
Factors" in the
Company's Annual Report on Form 10-K.
For more information, please contact:
Rene Milligan (Media)
Albemarle Corporation
Tel: +1-225-388-7106
Email: rene_milligan@albemarle.com
Nicole Daniel (Investor Relations)
Albemarle Corporation
Tel: +1-804-788-6096
Email: nicole_daniel@albemarle.com
SOURCE Albemarle Corporation
2007'02.11.Sun
Washington Group International Provides Chinese Nuclear Power Company With Project Management Training Services
December 22, 2006
BOISE, Idaho and SHANGHAI, China, Dec. 22
/Xinhua-PRNewswire/ --
Washington Group International (Nasdaq: WGII) announced
today that it has
been selected by Sanmen Nuclear Power Company (SMNPC) to
provide project
management training services in China and the United
States. SMNPC is
preparing to construct its first two nuclear units at a
seacoast site in
Sanmen in the Zhejiang province.
The contract calls for Washington Group to conduct a
series of workshops
to provide program management training using processes,
procedures, and
training materials, which have been successfully employed
on a variety of
Washington Group projects throughout the world.
Washington Group conducted the first workshop for SMNPC
in early
December. More than 65 SMNPC employees working in project
management,
project controls, human resources, contracts, procurement,
estimating,
quality assurance/quality control, information technology,
engineering, and
plant operations participated in the workshop. The
training involved
everything from pre-project planning to project controls
and estimating to
employee relations.
"It is highly appreciated that Washington Group
has attached importance
to this training program," stated Mr. Gu Jun, deputy
general manager of
SMNPC. "We believe both parties will take this event
as the remarkable
beginning of the continuing cooperation between SMNPC and
Washington Group
International."
Lou Pardi, president of Washington Group's Power
Business Unit,
said: "SMNPC was looking for a company to share
industry best practices with
an emphasis on project management. We will impart lessons
learned on a
variety of issues critical to on-time and on-budget
performance.
"Our selection for this important assignment
illustrates our strong
reputation and capabilities in nuclear services and project
management, and
we are committed to assisting SMNPC in developing a
world-class program
management capability."
Washington Group International provides services
addressing the full
nuclear lifecycle including providing licensing,
engineering, design,
procurement, construction, startup, maintenance and
modification,
decommissioning, and waste storage services for nuclear
power. Washington
Group has provided services to virtually every U.S. nuclear
power plant and
is the engineer or constructor of record for 49 nuclear
units worldwide.
About Washington Group International
Washington Group International (Nasdaq: WGII) provides
the talent,
innovation, and proven performance to deliver integrated
engineering,
construction, and management solutions for businesses and
governments
worldwide. With more than $3 billion in annual revenue,
the company has
approximately 25,000 people at work around the world
providing solutions in
power, environmental management, defense, oil and gas
processing, mining,
industrial facilities, transportation, and water resources.
For more
information, visit http://www.wgint.com .
Forward-looking Statements
This news release contains forward-looking statements
within the meaning
of the Private Securities Litigation Reform Act of 1995,
which are identified
by the use of forward-looking terminology such as may,
will, could, should,
expect, anticipate, intend, plan, estimate, or continue or
the negative
thereof or other variations thereof. Each forward-looking
statement,
including, without limitation, any financial guidance,
speaks only as of the
date on which it is made, and Washington Group undertakes
no obligation to
update any forward-looking statement to reflect events or
circumstances after
the date on which it is made or to reflect the occurrence
of anticipated or
unanticipated events or circumstances. The forward-looking
statements are
necessarily based on assumptions and estimates of
management and are
inherently subject to various risks and uncertainties.
Actual results may
vary materially as a result of changes or developments in
social, economic,
business, market, legal, and regulatory circumstances or
conditions, both
domestically and globally, as well as due to actions by
customers, clients,
suppliers, business partners, or government bodies.
Performance is subject
to numerous factors, including demand for new power
generation and for
modification of existing power facilities, public sector
funding, demand for
extractive resources, capital spending plans of customers,
and spending
levels and priorities of the U.S., state and other
governments. Results may
also vary as a result of difficulties or delays experienced
in the execution
of contracts or implementation of strategic initiatives.
For additional
risks and uncertainties impacting the forward-looking
statements contained in
this news release, please see "Note Regarding
Forward-Looking Information"
and "Item 1A. Risk Factors" in Washington Group's
annual report on Form 10-K
for fiscal year 2005.
For more information, please contact:
Jerry Holloway (Media)
Washington Group International
Tel: +1-208-386-5255
Laurie Spiegelberg (Media)
Washington Group International
Tel: +1-208-386-5255
Earl Ward (Investors)
Washington Group International
Tel: +1-208-386-569
SOURCE Washington Group International
2007'02.11.Sun
Last Chance to Get a Free Travel Day With the Eurail Selectpass!
December 21, 2006
UTRECHT, Netherlands, Dec. 21 /Xinhua-PRNewswire/ --
There are just less
than a couple of weeks left to take advantage of Eurail's
special end of year
offer.
The Eurail Group G.I.E. is offering an extra day of
rail travel on all 6-
, 8- or 10- day Eurail Selectpasses purchased by 31st
December. The first day
of travel must occur within 6 months of purchase, so you
can buy now and
travel in 2007.
The Eurail Selectpass is one of Eurail's most popular
and flexible of
rail passes as it allows customers to practically tailor
make their own pass.
Travellers select 3, 4 or 5 adjoining countries of their
choice and the
number of days they wish to travel. Adjoining countries can
also be linked by
Eurail's bonus partner shipping lines, resulting in some
unexpected but
interesting combinations like France and Ireland, Germany
and Sweden and
Spain and Italy. With 22 countries to choose from there
are over 750
possible combinations, giving customers true freedom and
flexibility!
"This is a great offer for people wanting to see a
bit more of Europe for
less," said Ana Dias e Seixas, Eurail's Marketing
Manager. "Whilst Eurail
Selectpasses are already excellent value, this special
offer is giving our
customers even more freedom to explore Europe by
rail."
Taking the train is the easiest, most relaxed way to
experience Europe.
Europe's rail network is extensive and trains are frequent,
taking travellers
from city centre to city centre quickly and efficiently,
avoiding long check-
in queues and waits at airports or driving and parking
hassles. One of the
main advantages of taking the train is that you actually
get to see the
country you're travelling through, whether it's a bustling
city or tranquil
countryside, the train is your window on Europe's diverse
scenery and
cultures.
The EURAIL Group comprises 27 railways and shipping
lines, as well as
several bonus partners. For more information about Eurail
and to purchase,
go to http://www.Eurail.com or one of Eurail's authorized
sales agents
worldwide: ACP Rail International (eurail-acprail.com)
Flight Centre
(flightcentre.com); OctopusTravel.com and Rail Europe 4A,
(raileurope.fr/wheretobuy).
Note: Countries participating in the Eurail Selectpass
offer are: Austria
(including Liechtenstein), Belgium, Bulgaria, Croatia,
Denmark, Finland,
France (including Monaco), Germany, Greece, Hungary, Italy,
Luxemburg, the
Netherlands, Norway, Portugal, Republic of Ireland,
Romania, Serbia &
Montenegro, Slovenia, Spain, Sweden and Switzerland.
For more information, please contact:
Mrs Ana Dias e Seixas
Marketing Manager
Eurail Group G.I.E.
Tel: +31-30-850-0125
Email: a.diaseseixas@eurail.nl
SOURCE Eurail Group
2007'02.11.Sun
Xinhua Far East Downgrades the Issuer Rating of Inner Mongolia Eerduosi Cashmere Products Co Ltd to BB+
December 21, 2006
HONG KONG, Dec. 21 /Xinhua-PRNewswire/ -¨C Xinhua Far
East China Ratings
("Xinhua Far East") today concluded its review on
Inner Mongolia Eerduosi
Cashmere Products Co Ltd ("Erdos" or "the
Company", SH A 600295; SH B 900936)
by downgrading its issuer credit rating to BB+ from BBB-.
Its rating outlook
is changed to stable from negative.
(Logo:
http://www.xprn.com.cn:9080/xprn/sa/200611140926.gif )
The downgrade was prompted by the Company's very high
debt levels after
the acquisition of a 24% stake in Erdos Power Metallurgy Co
Ltd ("Power
Metallurgy Company") and the possibility that its debt
levels may rise even
further with its ongoing investments in power metallurgy
projects. Xinhua
Far East also notes the Company has shifted its focus to
the cyclical
metallurgy industry, a move which has overshadowed its risk
profile, making
it inconsistent with an investment-grade company. We are
also concerned
about its inexperience in the new industry and its
aggressive financial
policy.
When Erdos completed its acquisition of the 24% equity
stake in Power
Metallurgy Company, it consolidated the latter company's
July to September
results into its financial statements. As expected by
Xinhua Far East, this
significantly raised its debt levels and liquidity risks
and, at the end of
the third quarter of 2006, Erdos' gross debt to total
capital was up 55.8%
from 28.5% as of year-end 2005. Its gross debt and net
debt rose to
RMB6,139.3 million and RMB5,079.3 million respectively from
RMB1,358 million
and RMB456.1 million as of year-end 2005. Furthermore, 68%
of the gross debt
was short-term in nature, indicating the Company is
probably using short-term
debt to finance its long-term projects.
Yet the Company's debt levels could rise even further,
with several power
metallurgy projects still under construction or in planning
stage. The
budget for its coal-electricity-silicon alloy project and
associated
equipment is RMB17.2 billion, according to figures from the
Power Metallurgy
Company, with accumulative investments reaching RMB4.1
billion at the end of
2005. Although the company could turn to the equity
markets or joint
ventures to partly finance the project, it could quite
possibly raise some
funds through debt, given the large amount of investment
involved and its
aggressive financial policies to date.
At the same time, given the company's inexperience in
the metallurgy
industry and given the fact that the industry is cyclical
in nature, Erdos'
foray into this new industry has heightened its risk
profile. Although power
metallurgy sector sales accounted for just 13.3% of the
Company's total
revenues of RMB2,169.9 million in the first three quarters
of 2006, this
percentage is expected to rise substantially next year when
it incorporates
Power Metallurgy Company's full-year results and when more
power metallurgy
projects are completed and put into production in
succession. As such, the
challenges Erdos faces in managing a multi-industry
conglomerate are
significant.
Another factor overshadowing Erdos is that Power
Metallurgy Company's
performance itself could be negatively affected by
oversupply and fierce
competition, despite the cost advantages it holds in
respect to abundant coal
resources. Power metallurgy sector sales in the third
quarter of this year
were RMB289.1 million, 46.1% of which derived from ferro
silicon products and
16.7% of which were from electricity. Although demand for
Ferro silicon has
risen significantly in recent years with the rapid
development of the
domestic steel industry, the market has encountered
oversupply, with
production capacity rapidly expanding also. There have
also been indications
that the electricity market in Inner Mongolia has also been
in over-supply in
recent years. Overall, Xinhua Far East does not believe
Erdos' financial
profile and risk structure will substantially improve over
the next few
years.
Even so, as a leader of cashmere industry, Erdos is
nevertheless able to
generate relatively stable income from cashmere, supporting
a stable ratings
outlook.
In 2005, Erdos realized turnover of RMB2.9 billion and,
at the end of
June 2006, Erdos Cashmere Group Co Ltd was the company's
largest shareholder,
with a 40.7% stake.
Established in April 2003, Erdos Power Metallurgy Co
Ltd is based in the
Qipanjing Industrial Park in Eerduosi of the Inner Mongolia
Autonomous
Region. Leveraging its access to the region's natural
resources, it engages
primarily in power metallurgy projects. It currently holds
a 54% share in
Erdos Power Metallurgy Co Ltd and intends to increase its
stake to 85%.
Erdos is a constituent of both the Xinhua/FTSE China
200 and B35 Indices
and, as of market close on December 20, 2006, its total
A-share market
capitalization and investable capitalization were RMB3,005
million and RMB901
million respectively. Its B-share market cap totaled
US$172 million, all of
which is investable.
For the rating report summary, please visit
http://www.xinhuafinance.com/creditrating .
About Xinhua FTSE China 200 and B35 Indices
Xinhua FTSE China 200 Index is the large cap index in
the Xinhua FTSE
China A Share Index Series and includes the top 200
companies in China by
market cap. It is designed as a tradable index and is
calculated in real-
time every 15 seconds. Xinhua FTSE China B 35 Index is the
large cap
tradable index in the FTSE Xinhua China B Index Series,
covering `B' shares
listed on the Shanghai and Shenzhen stock exchanges. It
provides
international investors with exposure to the mainland
Chinese market. For
daily data and further information, see
http://www.xinhuaftse.com .
About Xinhua Far East China Ratings
Xinhua Far East China Ratings (Xinhua Far East) is a
pioneering venture
in China that aims to rank credit risks among corporations
in China. It is a
strategic alliance between Xinhua Finance (TSE Mothers:
9399), and Shanghai
Far East Credit Rating Co., Ltd. Shanghai Far East became
a Xinhua Finance
partner company in 2003 and the first China member of The
Association of
Credit Rating Agencies in Asia in December 2003.
Capitalizing on the synergy between Xinhua Finance and
Shanghai Far East,
Xinhua Far East's rating methodology and process blend
unique local market
knowledge with international rating standards. Xinhua Far
East is committed
to provide investors with independent, objective, timely
and forward-looking
credit opinions on Chinese companies. It aims to help
investors
differentiate the credit risks among the corporations in
China, thereby,
cultivating their awareness and promoting information
disclosures and
transparency in China market. For more information, see
http://www.xfn.com/creditrating .
About Xinhua Finance Limited
Xinhua Finance Limited is China's unchallenged leader
in financial
information and media, and is listed on the Mothers board
of the Tokyo Stock
Exchange (symbol: 9399) (OTC ADRs: XHFNY). Bridging
China's financial
markets and the world, Xinhua Finance serves financial
institutions,
corporations and re-distributors through four focused and
complementary
service lines: Indices, Ratings, Financial News and
Investor Relations.
Founded in November 1999, the Company is headquartered in
Shanghai with 20
news bureaus and offices in 19 locations across Asia,
Australia, North
America and Europe. For more information, please visit
http://www.xinhuafinance.com .
About Shanghai Far East Credit Rating Co., Ltd
Shanghai Far East Credit Rating Co., Ltd. is the first
and leading
professional credit rating company with comprehensive
business coverage in
China. It is an independent agency established by the
Shanghai Academy of
Social Sciences with the mission to develop internationally
accepted
standards for capital market in China. The company is a
pioneer in
conducting bond-rating business in China. For years, it
has been authorized
by the Shanghai branch of the PBOC to undertake loan
certificate credit
rating.
Since establishment, it has rated over 1,000 corporate
long-term bonds
and commercial papers, based on the principles of
objectivity, fairness and
independence. The company has also maintained over 50%
market share in the
loan certificate-rating sector in Shanghai for three
consecutive years. With
its strong local presence and knowledge, it provides
investors with unique
and the most insightful credit opinion. For more
information, see
http://www.fareast-cr.com .
For more information, please contact:
Hong Kong
Joy Tsang
Corporate & Investor Communications Director
Xinhua Finance
Tel: +852-3196-3983, +86-21-6113-5999,
+852-9486-4364
Email: joy.tsang@xinhuafinance.com
US
Ms. Ishviene Arora
Taylor Rafferty (IR/PR Contact in US)
Tel: +1-212-889-4350
Email: ishviene.arora@taylor-rafferty.com
SOURCE Xinhua Far East China Ratings
2007'02.11.Sun
UN Resolution Caps Momentous Year for Diabetes World
December 21, 2006
Resolution is a First for Non-Infectious Diseases
NEW YORK, Dec. 21 /Xinhua-PRNewswire/ -- The United
Nations General
Assembly has today passed a landmark Resolution recognizing
the global threat
of the diabetes epidemic. For the first time, governments
have acknowledged
that a non-infectious disease poses as serious a threat to
world health as
infectious diseases like HIV/AIDS, Tuberculosis and
Malaria.
The International Diabetes Federation (IDF) leads the
Unite for Diabetes
campaign, which aims to draw attention to the seriousness
of diabetes and
encourage action to fight the epidemic. Since its
inception the campaign has
aimed for a UN Resolution.
Professor Martin Silink, IDF President and Chair of the
campaign,
explained the importance of the Resolution: "Today a
key battle has been won
in the fight against diabetes. The significance is
monumental. It will
inspire, energize and empower the diabetes world. People
said it couldn't be
done, but only six months since launching our campaign we
have achieved our
first goal. The struggle will now focus on helping and
encouraging
governments worldwide to develop national policies to
improve diabetes care
and prevention. I couldn't think of a better gift for the
millions of
families affected by diabetes."
The Unite for Diabetes campaign has brought together
the largest ever
diabetes coalition, including patient organizations from
over 150 countries,
the majority of the world's scientific and professional
diabetes societies,
many charitable foundations, service organizations and
industry.
The People's Republic of Bangladesh steered the
diplomatic process that
resulted in the passing of the Resolution. The cause was
taken up by the G77
(a coalition of 133 developing and transitional countries
at the UN led by
the Republic of South Africa). The ownership of the
Resolution by this
majority voting bloc convinced the countries of the
developed world to throw
their support behind the Resolution.
The Resolution designates World Diabetes Day, November
14th, as a United
Nations Day to be observed every year starting in 2007. It
calls on all UN
Member States to observe the day and on all nations to
develop national
policies for the prevention, treatment and care of
diabetes.
Diabetes is a much-ignored but deadly disease,
responsible for close to 4
million deaths every year. It is a leading cause of heart
attack, stroke,
blindness, kidney failure and amputation. The global
diabetes community
recently gathered in Cape Town, South Africa for its
triennial World Diabetes
Congress. Data released at the highly successful event
show the serious
extent of the epidemic and underscore the need for urgent
action. Over 380
million people will live with diabetes by 2025 if
significant action is not
taken. The vast majority, more than 300 million, will live
in developing
countries.
"If nothing is done, it is the developing world
that will once again bear
the brunt of the world's disease burden," said
Jean-Claude Mbanya, IDF
President-Elect. "Governments worldwide must work
with the diabetes
community and society to tackle the problem. People with
diabetes must be
part of the solution. It is our hope that, with the
recognition of the
United Nations, the diabetes epidemic can now emerge from
the shadows."
About The International Diabetes Federation
The International Diabetes Federation (IDF) is an
organization of 200
member associations in more than 150 countries,
representing millions of
people with diabetes, their families, and their healthcare
providers. Its
mission is to promote diabetes care, prevention and a cure
worldwide. IDF
leads the 'Unite for Diabetes' awareness campaign.
For information about the Unite for Diabetes campaign
visit
http://www.unitefordiabetes.org .
For more information, please contact:
Kari Rosenfeld
Tel: +1-541-913-3334
SOURCE International Diabetes Federation
2007'02.11.Sun
LG Telecom Distributes 'FortuneGolf3D', the First 3D Mobile Game Running on MascotCapsule(R)
December 21, 2006
TOKYO, Dec. 21 /Xinhua-PRNewswire/ -- HI CORPORATION
(Headquarters:
Meguro-ku, Tokyo; president and CEO: Kazuo Kawabata;
hereinafter "HI")
announced today that the 3D golf game
"FortuneGolf3D" developed using the
MascotCapsule(R) real-time 3D rendering engine by Com2uS
Corporation
(Headquarters: Seoul; CEO: PARK, Ji Young; hereinafter
"Com2uS") has been
released by LG Telecom (Headquarters: Seoul; CEO: Jung, Il
Jae;
hereinafter "LGT") on Novermber 30th.
The ported version of "FortuneGolf3D" has
been successfully distributed
in Japan as "Seishun! Golf-jiichan"*. Together
with the unique and
unconventional concept that the player is getting younger
by playing golf,
the game uses variety of camera angles, rich 3D field, and
outstanding scene
effects to generate a realistic play environment.
* Currently being distributed by FromSoftware, Inc for
Ezweb, i-mode, Yahoo! Keitai.
This highly praised game, which had won the grand prize
from Ministry of
Information and Communication in "The 4th Most
Innovative Mobile Content" and
the grand prize from Ministry of Culture and Tourism of
"Best game of the
month" in Korea, represents the first 3D mobile game
adopted by LGT.
HI expects that this distribution will contribute to
increasing the
mobile 3D content market share in Korea and to growing the
awareness of HI
and MascotCapsule(R).
-- MascotCapule(R) is a registered trademark of HI
Corporation.
-- Other company names and product names in the release
are
trademarks or registered trademarks of their
respective
holders.
About MascotCapsule(R)
MascotCapsule(R) is an embedded software 3D rendering
engine that enables
real-time 3D graphics for applications to run on various
devices such as
mobile phones. MascotCapsule(R) enables the display of 3D
graphics, of which
the expression is far more versatile than 2D, to run
effortlessly in hardware
resource-constrained environments. MascotCapsule(R) is
available in versions
1 through 4 which support various platforms and hardware
configurations.
In Korea, MascotCapsule(R) has been adopted by three
carriers, SK
Telecom, KT Freetel, and LG Telecom, and over 40 content
titles using
MascotCapsule(R) have been distributed in the market.
About HI CORPORATION
Please visit http://www.hicorp.co.jp/e_index.html .
For more information, please contact:
Mitsutaka Monma
Marketing Division/Public Relations
HI CORPORATION
Meguro Higashiyama Bldg. 5th Floor, 1-4-4 Higashiyama,
Meguro-ku, Tokyo, Japan 153-0043
Tel: +81-3-3710-2843
Fax: +81-3-5773-8660
Email: press@hicorp.co.jp
SOURCE HI CORPORATION
2007'02.11.Sun
SourceCode Releases Beta 1 of Their Next Generation Platform, Code Named K2.net(R) 'BlackPearl'
December 21, 2006
REDMOND, Wash., Dec. 21 /Xinhua-PRNewswire/ --
SourceCode Technology
Holdings, Inc. (SourceCode), the creator of the K2.net(R)
Enterprise Workflow
Platform, today announced the first beta release of the new
version of
K2.net, codenamed "BlackPearl" to a select number
of SourceCode partners and
customers. The complete commercial version is expected to
be released in
early 2007.
K2.net "BlackPearl" is a radical new vision
for satisfying currently
unmet needs in the Business Process Management (BPM) space,
providing a set
of tools that empower IT to help the business rapidly
assemble business-based
applications.
Dennis Parker, President K2.net, said, "K2.net
'BlackPearl' is the
culmination of three years of development and will form the
platform on which
we will launch our next generation process management
platform. We have
listened carefully to the needs of our customers and placed
an emphasis on
common and recurring themes. Major goals that we have set
for ourselves in
the 'BlackPearl' platform include empowerment of business
users, improved
line of business application integration, increased
enterprise scalability,
and flexible and integrated reporting."
Built on .NET 3.0, K2.net "BlackPearl"
provides a powerful set of design
experiences tailored for broad participation in the
creation and deployment
of process based applications. These experiences are
surfaced in familiar
tools that include Microsoft Visio, a web browser, and
Visual Studio.NET
2005. Users have the ability to create, store, reuse,
report on and
personalize their experience to meet their individual
needs.
The K2.net "BlackPearl" platform also gives
IT the new ability to surface
objects that users can leverage in the creation of their
process based
applications. Through the "SmartObjects" and
"SmartFunctions" features in
the platform, users are able to access and take action on
information stored
across legacy informational silos without having to
understand where the
information lives or how to retrieve it.
With K2.net "BlackPearl," the business and IT
are empowered to work
together in creating applications in ways not before
possible. Additional
capabilities will be announced throughout the beta term
until official
product release.
About SourceCode
SourceCode Technology Holdings, Inc. (
http://www.k2workflow.com )
develops the award-winning K2.net 2003 software. K2.net
2003 is the
leading .Net based enterprise workflow platform and enables
rapid solution
assembly that optimizes interactions between people,
systems and process.
SourceCode Technology Holdings, Inc. is headquartered
in Redmond,
Washington and has offices in the United States, Canada,
the United Kingdom,
France, Germany, South Africa, Australia, and Singapore.
NOTE: SourceCode and K2.net are registered trademarks
or trademarks of
SourceCode Technology Holdings, Inc. in the United States
and/or other
countries. The names of actual companies and products
mentioned herein may be
the trademarks of their respective owners.
For further information, please contact:
Josh Swihart
SourceCode
Tel: +1-415-299-2860
Email: josh@k2workflow.com
SOURCE SourceCode Technology Holdings, Inc.
2007'02.11.Sun
NIKE, Inc. Reports Second Quarter Earnings Per Share of $1.28
December 21, 2006
-- Revenue up 10 percent; worldwide futures orders up 7
percent
-- Improved tax rate contributes $0.13 to earnings per
share
BEAVERTON, Ore., Dec. 21 /Xinhua-PRNewswire/ -- NIKE,
Inc. (NYSE: NKE)
today reported financial results for the second quarter
ended November 30,
2006. For the quarter, revenue grew 10 percent to $3.8
billion, compared to
$3.5 billion for the same period last year. Changes in
currency exchange
rates increased revenue growth by 1 percentage point for
the quarter. Second
quarter net income grew 8 percent to $325.6 million,
compared to $301.1
million in the prior year and diluted earnings per share
increased 12 percent
to $1.28, versus $1.14 last year.
(Logo :
http://www.newscom.com/cgi-bin/prnh/19990818/NIKELOGO )
During the quarter, the Company also finalized a new
long-term tax
agreement with the Dutch government, which included a
retroactive tax benefit
for fiscal 2006 and the first half of fiscal 2007,
contributing $0.13 per
diluted share to results for the quarter.
Mark Parker, Nike, Inc. President and Chief Executive
Officer, said, "The
Nike brand and our Nike Inc. portfolio continued to be
strong worldwide,
driving double-digit top line growth for the quarter.
Nike+, Lebron IV, Nike
Pro Revolution, Converse's Wade 1.3 and Cole Haan's Dress
Air for women were
some of the product introductions creating consumer
excitement and market
place energy. At the same time, we delivered strong
earnings growth and a
significant 19 percent increase in our dividend for
shareholders. Our brands
are strong, the Company is growing revenues and profits,
and we are
delivering on our commitment to lead the industry with
sharper focus, greater
competitiveness and deeper influence through ongoing
product innovation and
consumer connections."*
Futures Orders
The Company reported worldwide futures orders for
athletic footwear and
apparel, scheduled for delivery from December 2006 through
April 2007,
totaling $5.6 billion, 7 percent higher than such orders
reported for the
same period last year. Changes in currency exchange rates
increased reported
orders growth by 2 percentage points.*
By region, futures orders for the U.S. increased 7
percent; Europe (which
includes the Middle East and Africa) increased 7 percent;
Asia Pacific grew 9
percent; and the Americas increased 5 percent. Changes in
currency exchange
rates increased the reported futures orders growth in
Europe by 5 percentage
points; in Asia Pacific by 2 percentage points; and in the
Americas region
decreased reported futures growth by 2 percentage points.*
Regional Highlights
U.S.
During the second quarter, U.S. revenues increased 8
percent to $1.4
billion versus $1.3 billion for the second quarter of
fiscal 2006. U.S.
athletic footwear revenues increased 8 percent to $879.4
million; apparel
revenues increased 10 percent to $475.4 million; and
equipment revenues
increased 2 percent to $63.2 million. U.S. pre-tax income
increased slightly
to $266.0 million from $265.7 million a year ago.
Europe
Second quarter revenues for the European region grew 6
percent to $1.0
billion from $977.4 million for the same period last year.
Changes in
currency exchange rates increased revenue growth by 3
percentage points.
Footwear revenues were up 2 percent to $541.4 million from
$533.2 million
last year. Apparel revenues increased 11 percent to $421.0
million and
equipment revenues increased 14 percent to $73.8 million.
Pre-tax income
declined 18 percent to $158.8 million, reflecting lower
gross margins and
increased demand creation spending versus relatively low
levels in the prior
year.
Asia Pacific
In the second quarter revenues in the Asia Pacific
region grew 15 percent
to $578.2 million compared to $503.3 million a year ago.
Changes in currency
exchange rates did not have a significant impact on revenue
growth. Footwear
revenues were up 13 percent to $277.4 million, apparel
revenues increased 17
percent to $250.6 million and equipment revenues grew 16
percent to $50.2
million. Pre-tax income increased 21 percent to $139.9
million.
Americas
Revenues in the Americas region increased 4 percent to
$262.5 million, an
improvement from $252.1 million in the second quarter of
fiscal 2006.
Currency exchange rates contributed 1 percentage point to
this growth rate.
Footwear revenues were up 4 percent to $185.1 million,
apparel revenues
increased 1 percent to $55.7 million and equipment revenues
grew 17 percent
to $21.7 million. Pre-tax income was up 4 percent to $59.8
million.
Other Businesses
For the second quarter, Other business revenues, which
are comprised of
results from Cole Haan Holdings Incorporated, Converse
Inc., Exeter Brands
Group LLC, Hurley International LLC, NIKE Bauer Hockey
Inc., and NIKE Golf
grew 21 percent to $526.8 million from $434.8 million last
year. Pre-tax
income increased 136 percent to $54.3 million for the
quarter.
Income Statement Review
Gross margins were 43.4 percent during the second
quarter compared to
43.5 percent for the same period in the prior year.
Selling and administrative expenses were 32.0 percent
of second quarter
revenues, compared to 30.4 percent last year. Results for
the second quarter
included an $18.8 million expense, net of taxes, related to
the expensing of
stock options, which reduced diluted earnings per share by
$0.08. Excluding
stock option expense second quarter net income increased 14
percent and
diluted earnings per share increased 19 percent to $1.36.
The effective tax rate for the second quarter declined
significantly to
27.2 percent. During the second quarter, the Company
finalized a tax
agreement with the Dutch government that is effective for
fiscal years 2006
through 2015. As a result of this new agreement the
Company realized a tax
benefit,which increased the Company's diluted earnings per
share for the
second quarter by $0.13.
Balance Sheet Review
At quarter end, global inventories stood at $2.2
billion, an increase of
15 percent from November 30, 2005. Cash and short-term
investments were $1.9
billion at the end of the quarter, compared to $2.1 billion
last year.
Share Repurchase
During the second quarter, the Company purchased a
total of 1,478,800
shares for approximately $126 million in conjunction with
the Company's four-
year $3 billion share repurchase program approved by the
Board of Directors
in June 2006.
NIKE, Inc. based near Beaverton, Oregon, is the world's
leading designer,
marketer and distributor of authentic athletic footwear,
apparel, equipment
and accessories for a wide variety of sports and fitness
activities. Wholly
owned Nike subsidiaries include Cole Haan Holdings
Incorporated, a leading
designer and marketer of luxury shoes, handbags,
accessories and coats;
Converse Inc., which designs, markets and distributes
athletic footwear,
apparel and accessories; Exeter Brands Group LLC, which
designs and markets
athletic footwear and apparel for the value retail channel;
Hurley
International LLC, which designs, markets and distributes
action sports and
youth lifestyle footwear, apparel and accessories and NIKE
Bauer Hockey Inc.,
a leading designer and distributor of hockey equipment.
NIKE's earnings releases and other financial
information are available on
the Internet at www.nikebiz.com/invest.
* The marked paragraphs contain forward-looking
statements that involve
risks and uncertainties that could cause actual results to
differ
materially. These risks and uncertainties are detailed
from time to time in
reports filed by NIKE with the S.E.C., including Forms 8-K,
10-Q, and 10-K.
Some forward-looking statements in this release concern
changes in futures
orders that are not necessarily indicative of changes in
total revenues for
subsequent periods due to the mix of futures and "at
once" orders, exchange
rate fluctuations, order cancellations and discounts, which
may vary
significantly from quarter to quarter, and because a
significant portion of
the business does not report futures orders.
NIKE, Inc.
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED NOVEMBER 30,
2006
(In millions, except per share data)
QUARTER ENDED YEAR TO
DATE ENDED
INCOME
STATEMENT 11/30/2006 11/30/2005 % Chg 11/30/2006
11/30/2005 % Chg
Revenues $3,821.7 $3,474.7 10% $8,015.8
$7,336.7 9%
Cost of sales 2,164.6 1,963.3 10% 4,509.5
4,077.2 11%
Gross margin 1,657.1 1,511.4 10% 3,506.3
3,259.5 8%
43.4% 43.5% 43.7%
44.4%
Selling and
administrative
expense 1,223.7 1,054.7 16% 2,513.4
2,159.1 16%
32.0% 30.4% 31.4%
29.4%
Interest income,
net (14.1) (5.7) 147% (27.2)
(12.1) 125%
Other (income)
expense, net 0.2 (1.4) -114% (3.0)
(11.3) -73%
Income before
income taxes 447.3 463.8 -4% 1,023.1
1,123.8 -9%
Income taxes 121.7 162.7 -25% 320.3
390.4 -18%
27.2% 35.1% 31.3%
34.7%
Net income $325.6 $301.1 8% $702.8
$733.4 -4%
Diluted EPS $1.28 $1.14 12% $2.76
$2.77 0%
Basic EPS $1.30 $1.16 12% $2.79
$2.82 -1%
Weighted Average
Common Shares
Outstanding:
Diluted 253.7 263.7 254.4
265.0
Basic 251.2 259.0 252.0
260.0
Dividends declared $0.37 $0.31 $0.68
$0.56
NIKE, Inc.
BALANCE SHEET * 11/30/2006
11/30/2005
ASSETS
Current assets:
Cash and equivalents $1,102.9
$1,134.5
Short-term investments 804.4
920.0
Accounts receivable, net 2,387.6
2,166.2
Inventories 2,167.2
1,892.7
Deferred income taxes 186.2
86.9
Prepaid expenses and other current assets 561.3
496.2
Total current assets 7,209.6
6,696.5
Property, plant and equipment 3,548.4
3,216.6
Less accumulated depreciation 1,875.4
1,630.8
Property, plant and equipment, net 1,673.0
1,585.8
Identifiable intangible assets, net 406.7
403.9
Goodwill 130.8
135.4
Deferred income taxes and other assets 402.1
322.5
Total assets $9,822.2
$9,144.1
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt $30.6
$254.5
Notes payable 59.2
79.2
Accounts payable 880.3
744.2
Accrued liabilities 1,244.1
1,012.1
Income taxes payable 71.0
71.1
Total current liabilities 2,285.2
2,161.1
Long-term debt 383.5
408.3
Deferred income taxes and other liabilities 615.1
492.9
Redeemable preferred stock 0.3
0.3
Shareholders' equity 6,538.1
6,081.5
Total liabilities and shareholders' equity $9,822.2
$9,144.1
* Certain prior year amounts have been reclassified to
conform to fiscal
year 2007 presentation.
These changes had no impact on previously reported
results of operations
or shareholders' equity.
NIKE, Inc.
DIVISIONAL QUARTER ENDED YEAR TO
DATE ENDED
REVENUES 11/30/2006 11/30/2005 % Chg 11/30/2006
11/30/2005 % Chg
U.S. Region
Footwear $879.4 $811.5 8% $1,958.5
$1,832.6 7%
Apparel 475.4 433.8 10% 906.9
829.3 9%
Equipment 63.2 61.8 2% 154.5
154.1 0%
Total 1,418.0 1,307.1 8% 3,019.9
2,816.0 7%
EMEA Region
Footwear 541.4 533.2 2% 1,220.9
1,218.3 0%
Apparel 421.0 379.6 11% 908.0
814.8 11%
Equipment 73.8 64.6 14% 178.2
161.8 10%
Total 1,036.2 977.4 6% 2,307.1
2,194.9 5%
Asia Pacific Region
Footwear 277.4 245.4 13% 543.4
482.8 13%
Apparel 250.6 214.6 17% 451.5
391.1 15%
Equipment 50.2 43.3 16% 101.7
89.0 14%
Total 578.2 503.3 15% 1,096.6
962.9 14%
Americas Region
Footwear 185.1 178.1 4% 357.4
335.0 7%
Apparel 55.7 55.4 1% 106.9
96.1 11%
Equipment 21.7 18.6 17% 40.7
34.7 17%
Total 262.5 252.1 4% 505.0
465.8 8%
3,294.9 3,039.9 8% 6,928.6
6,439.6 8%
Other 526.8 434.8 21% 1,087.2
897.1 21%
Total NIKE, Inc.
revenues $3,821.7 $3,474.7 10% $8,015.8
$7,336.7 9%
NIKE, Inc.
PRE-TAX QUARTER ENDED YEAR TO
DATE ENDED
INCOME(1),* 11/30/2006 11/30/2005 % Chg 11/30/2006
11/30/2005 % Chg
U.S. Region $266.0 $265.7 0% $604.9
$610.9 -1%
EMEA Region 158.8 194.2 -18% 461.3
524.4 -12%
Asia Pacific
Region 139.9 115.2 21% 238.8
206.6 16%
Americas Region 59.8 57.4 4% 108.2
102.0 6%
Other 54.3 23.0 136% 142.2
63.0 126%
Corporate(2) (231.5) (191.7) -21% (532.3)
(383.1) -39%
Total pre-tax
income(1) $447.3 $463.8 -4% $1,023.1
$1,123.8 -9%
(1) The Company evaluates performance of individual
operating segments
based on pre-tax income.Total pre-tax income equals
Income before income
taxes as shown on the Consolidated Income Statement.
(2) "Corporate" represents items necessary to
reconcile to total pre-tax
income, which includes corporate costs that are not
allocated to the
operating segments for management reporting and
intercompany eliminations
for specific items in the Consolidated Income
Statement.
NIKE, Inc.
NET INCOME AND DILUTED
EPS RECONCILIATION(1)
QUARTER ENDED YEAR TO
DATE ENDED
11/30/ 11/30/ 11/30/
11/30/
2006 2005 % Chg 2006
2005 % Chg
Net income, as reported $325.6 $301.1 8% $702.8
$733.4 -4%
Exclude: Stock-
based compensation
expense, net of tax(2) 18.8 - - 59.6
- -
Net income, excluding
stock-based compensation
expense(2) $344.4 $301.1 14% $762.4
$733.4 4%
Diluted EPS, as reported $1.28 $1.14 12% $2.76
$2.77 0%
Diluted EPS, excluding
stock-based compensation
expense(2) $1.36 $1.14 19% $3.00
$2.77 8%
(1) This schedule is intended to satisfy the
quantitative reconciliation
for non-GAAP financial measures in accordance with
Regulation G of the
Securities and Exchange Commission.
(2) This charge relates to stock-based compensation
associated with stock
options and ESPP shares issued to employees and
expensed in accordance
with SFAS 123(R) "Share Based Payment",
which was adopted by the Company
during its first fiscal quarter ended August 31, 2006.
For more information, please contact:
Alan Marks
Tel: +1-503-671-4235
Investors
Pamela Catlett
Tel: +1-503-671-4589
SOURCE NIKE, Inc.
2007'02.11.Sun
Freestar Technology Corp.'s Rahaxi Processing Oy Achieves Visa And Mastercard Pci Dss Qualification As A European Certified Payments Solutions Provider
December 21, 2006
-- It is Only the Second Finnish Company to Achieve
Certification
SHANGHAI, Dec. 20 /Xinhua-PRNewswire/ -- FreeStar
Technology Corp. (OTC
Bulletin Board: FSRT - News) an international card payments
processor and
technology company, announced that its wholly owned
subsidiary, Rahaxi
Processing Oy., is now listed on Visa's website, along with
such companies
as First Data International, as having been awarded Payment
Card Industry
Data Security Standards (PCI DSS) compliance accreditation
to provide payment
solutions in Europe. It is the second Finnish payments
solution provider to
receive certification.
PCI DSS is a set of industry-wide requirements and
processes (instituted
by Visa, MasterCard, Diners, AMEX, JCB and Discover) that
ensure the security
of valuable cardholder account data. PCI DSS includes
requirements for
security management, policies, procedures, network
architecture, software
design and other critical protective measures.
This comprehensive standard is intended to proactievly
protect consumer
data for organiztions that store, transmit or process
cardholder account and
transaction data, including merchants, acquiring banks and
related service
providers.
Paul Egan, chief executive officer of FreeStar
Technology, said, "We are
delighted to announce our certification for the PCI DSS
compliance. This is
an important milestone for the company, one that should
attract significant
new business. We are pleased to have met Visa's rigorous
standards and
make it to Visa's final list of 100 companies considering
that there are
several thousand competitors in the industry."
"Enforcement of the new standard is increasingly
more vigilant with
increased financial penalties for non-compliance and the
real threat of
acceptance privileges being suspended or revoked for
organizations that do
not demonstrate compliance with the standard," he
added.
Sysnet Ltd., an official Visa Qualified Security
Assessor (QSA) in
assessing onsite compliance to PCI Standards, carried out
the certification
process. The certification indicates that Rahaxi Processing
has been assessed
against the objectives of the Visa Account Information
Security (AIS), using
the PCI DSS validation methods and was found to be
compliant to PCI DSS.
Vivian Duff, business manager of Sysnet said,
"Having worked closely with
Rahaxi Processing during the last 12 months, it was a
rewarding experience to
see how the PCI DSS has helped validate the high level of
information
security management that has been developed to protect the
business interests
of its clients."
Duff added, "I congratulate Rahaxi Processing on
achieving this
certification and demonstrating its commitment to deliver
secure services to
its clients in Europe."
Jyrki Matikainen, sales director of Rahaxi Processing,
said, "After
working hard for more than a year on the PCI project, we
are happy to receive
the Visa approval. By combining PCI security with Rahaxi
Processing's
existing services and our several EMV certifications we
provide our customers
with a trustworthy, accessible and a secure turnkey
solution. As the payment
industry gets more diversified, the biggest merchants and
the POS vendors are
starting to look for dedicated payment specialists. Rahaxi
Processing is now
in a very promising position to fulfil this need. As sales
director, I
believe, the certification will have a positive impact on
our revenue."
About FreeStar Technology Corporation
FreeStar Technology Corporation provides mission
critical solutions to
the financial industry worldwide. Working with merchants
and acquires in over
twenty countries, our product suite has empowered partners
to focus on their
core competencies, while our innovative driven approach has
allowed them to
benefit from first to market advantage and realise their
true potential.
FreeStar Technology Corporation has adopted a partnership
strategy for
growth. Our partners are market leaders in their respective
industries. These
include IKEA, Finnair and Stockmann. Our Subsidiaries
Rahaxi Processing Oy
Finland, FreeStar Technologies Ireland Limited and FreeStar
Dominicana S.A.
Dominican Republic, continue to develop and implement first
class products
and solutions that enhance the service level our partners
can offer
customers. For more information, please visit
http://www.freestartech.com or
http://www.rahaxi.com .
About Sysnet Ltd.
Sysnet Ltd helps organizations to meet today's
challenges by providing a
full range of services for assessing and assuring PCI DSS
compliance. Our
services include PCI DSS Assessments, Audits, Vulnerability
Scanning,
Penetration Testing and Payment Application Best Practice
Assessments. For
more information visit our website http://www.sysnet.ie or
email
info@sysnet.ie
Forward-looking statements
Certain statements in this news release may contain
forward-looking
information within the meaning of Rule 175 under the
Securities Act of 1933
and Rule 3b-6 under the Securities Exchange Act of 1934,
and are subject to
the safe harbor created by those rules. When used in this
press release, the
words "expects," "anticipates,"
"believes," "plans," "will"
and similar
expressions are intended to identify forward-looking
statements. These are
statements that relate to future periods and include, but
are not limited to,
statements regarding our adequacy of cash, expectations
regarding net losses
and cash flow, statements regarding our growth, our need
for future
financing, our dependence on personnel, and our operating
expenses. All
statements, other than statements of fact, included in this
release,
including, without limitation, statements regarding
potential future plans
and objectives of the companies, are forward-looking
statements that involve
risks and uncertainties. Forward-looking statements are
subject to certain
risks and uncertainties that could cause actual results to
differ materially
from those projected. These risks and uncertainties
include, but are not
limited to, those discussed above as well as risks set
forth above
under "Factors That May Affect Our Results."
These forward-looking statements
speak only as of the date hereof. There can be no assurance
that such
statements will prove to be accurate and actual results and
future events
could differ materially from those anticipated in such
statements. Technical
complications that may arise could prevent the prompt
implementation of any
strategically significant plan(s) outlined above. The
companies caution that
these forward-looking statements are further qualified by
other factors
including, but not limited to, those set forth in
FreeStar's Form 10-KSB
filing and other filings with the U.S. Securities and
Exchange Commission
(available at http://www.sec.gov ). FreeStar undertakes no
obligation to
publicly update or revise any statements in this release,
whether as a result
of new information, future events, or otherwise.
For more information, please contact:
Rahaxi Processing Oy
Mr. Jyrki Matikainen
Sales Director
Tel: +350-40-5133-304
Email: j.matikainen@rahaxi.com
FreeStar Technology Corp.
Paul Egan, CEO
Tel: +1-809-368-2001
Email: pegan@freestartech.com
Investor Relations
Arun Chakraborty
Stern & Co.
Tel: +1-212-888-0044
Email: achakrab@sternco.com
AGORACOM Investor Relations
Email: FSRT@agoracom.com
Web: http://www.agoracom.com/IR/Freestar
SOURCE FreeStar Technology Corporation
2007'02.11.Sun
Partnership Between UNDP, Chinese Government and GEF to Promote Energy-Efficient CFC-Free Refrigerators a Success
December 21, 2006
BEIJING, Dec. 20 /Xinhua-PRNewswire/ -- An
award-winning campaign to
promote energy-efficient CFC-free refrigerators, which
dramatically increased
the number of "green" refrigerators sold from
1,000 units in 1999 to 40
million in 2005, came to a successful end after a five-year
campaign period.
( Logo:
http://www.xprn.com.cn:9080/xprn/sa/20061107113358-34.jpg
)
The US$40 million project, entitled "Barrier
Removal for the Widespread
Commercialization of Energy-Efficient CFC-free
Refrigerators in China"
introduced innovative market incentives designed to
encourage refrigerator
manufacturers and retailers to promote environmentally
friendly refrigerators
and to encourage customers to purchase them.
"The explosive increase in household appliances in
China is leading to an
explosive increase in carbon dioxide output. The success
of this project
demonstrates that it is possible to find creative solutions
that are both
environmentally friendly and attractive to Chinese
consumers," said Kishan
Khoday, team leader of Energy and Environment for the
United Nations
Development Programme (UNDP) in China, at the closing
ceremony.
The project established a cash-incentive program by
rewarding those
manufacturers and retailers who were the most successful at
producing and
selling "green" refrigerators. The national
campaign drew wide participation
from competing manufacturers and retailers. Kelon and
Haier, two
refrigerator manufacturers, and Huangshi Dongbei, a company
that produces
components for refrigerators, will receive monetary prizes
as a result of
their commercial push to promote "green"
refrigerators in China.
China became the world's second largest refrigerator
manufacturer in
1996, and ranks first in the world today. In 1996, in 70%
of urban
households, refrigerators alone accounted for approximately
half of daily
residential electricity consumption. Back then, the
refrigerators
manufactured for the domestic market in China were
significantly less energy-
efficient than those used in developed countries.
The participation in the project of leading Chinese
refrigerator
manufacturers resulted in an impressive 29% increase in the
weighted average
efficiency of household refrigerators produced between 1999
and 2005. There
was a corresponding drop in C02 emissions of about 11
million tonnes by 2005,
and this is projected to reach 42 million tonnes by 2010.
About UNDP
UNDP fosters human development to empower women and men
to build better
lives in China. As the UN's development network, UNDP draws
on a world of
experience to assist China in developing its own solutions
to the country's
development challenges. Through partnerships and
innovation, UNDP works to
achieve the Millennium Development Goals and an equitable
Xiao Kang society
by reducing poverty, strengthening the rule of law,
promoting environmental
sustainability, and fighting HIV/AIDS.
http://www.undp.org.cn
For more information, please contact:
Ms. Zhang Wei
Communications Officer
UNDP China
Tel: +86-10-8532-0715
Email: wei.zhang@undp.org
SOURCE United Nations Development Programme
2007'02.11.Sun
Preliminary Swiss Re Sigma Estimates of Catastrophe Losses in 2006: Benign Year for Property Insurers
December 21, 2006
ZURICH, Switzerland, Dec. 20 /Xinhua-PRNewswire/ --
According to
preliminary estimates, natural and man-made catastrophes
triggered total
economic losses of around USD 40 billion, and cost property
insurers
worldwide USD 15 billion in 2006. Earthquakes, cold
spells, windstorms and
also shipping disasters claimed numerous victims. In all,
an estimated
30,000 people lost their lives in catastrophes.
Insured claims of just about USD 15 billion
After years of record losses, property insurers appear
to be getting off
lightly in 2006: catastrophe losses of only USD 15 billion
will allow them to
replenish their risk capital, depleted by record payments
for hurricane
damage in 2005 and 2004. Up to now, only three loss events
in the billion-
dollar range have made themselves felt: two tornados in the
US and a typhoon
in Japan (cf Table of the most costly insured losses,
below). Among the last
20 years, 2006 has produced the third-lowest insured
losses, after 1997 and
1988. This is attributable mainly to the quiet hurricane
season in the US
and surrounding countries. Unlike in previous years,
Europe has also been
spared expensive catastrophes up to now; however, the time
for winter storms
(remember Lothar and Martin in 1999) and floods (for
instance "Christmas
floods" on the Lower Rhine in 1993) is by no means
over. And finally, no
major industrialised regions have been hit by earthquakes,
and very expensive
man-made disasters -- such as aircraft crashes or
large-scale fires -- have
been conspicuous by their absence.
Total economic losses estimated at USD 40 billion
The geographic distribution of the biggest loss events
is reflected in
the amounts of both the economic losses and the insured
claims. As the
typhoons and earthquakes in 2006 hit mainly newly
industrialising countries
where insured values are relatively low, the directly
attributable financial
losses were quite mild, at around USD 40 billion. Of these
economic losses
of 40 billion worldwide, only USD 15 billion, or less than
one third, were
actually covered by insurance.
Catastrophes claim over 30,000 victims
sigma recorded nearly 140 natural catastrophes and more
than 200 man-made
disasters. The number of victims varies widely from year
to year; in 2006,
more than 30,000 people lost their lives in natural and
man-made
catastrophes. It was earthquakes that caused the most
fatalities: on 27 May,
an earthquake of magnitude 6.3 almost completely wiped out
the city of Bantul
on the Indonesian island of Java. On 17 July, Indonesia
was again shaken by
an earthquake. This quake, of magnitude 7.7, triggered a
tsunami; quake and
tsunami together claimed 800 victims.
Windstorms and floods also claimed more than 11,500
lives in 2006, two
catastrophes hitting the Philippines: in February
persistent rainfall
triggered a mud and rubble slide in the province of Leyte
that buried the
village of Guinsagon with its approximately 1,000
inhabitants. In late
November, heavy rainfall in the wake of typhoon Durian
(also known as Reming)
sent walls of muddy volcanic ash flowing down the slopes of
Mt Mayon on the
island of Luzon, burying everything in their path,
including the village of
Albay. Durian claimed 1,270 victims in the Philippines and
more than 80 in
Vietnam.
El Nino inhibits hurricane formation
The "El Nino" phenomenon, which appears
between September and December,
is accompanied by higher-than-normal sea surface
temperatures in the tropical
Pacific basin. The western equatorial Pacific has been
experiencing an El
Nino phase with medium-strength typhoon activity since the
autumn of 2006.
Typhoon Durian for instance wreaked devastation in the
Philippines and
Vietnam, and Shanshan followed suit in Japan. In the
tropical Atlantic
basin, by contrast, the gathering El Nino climate
constellation was already
mitigating the formation of hurricanes in the summer of
2006. Consequently,
the US hurricane season, which lasts from early June to
late November,
brought only two strong and five medium-strength hurricanes
in 2006.
Table: The most costly insured events in 2006
Insured Date Event
Country
losses (Beginning)
(in USD bn)
1,720 13.04.2006 Tornado with winds up to 240
km/h, US
hail
1,282 06.04.2006 Series of tornados
US
1,034 12.09.2006 Typhoon Shanshan
Japan
920 11.03.2006 Tornados, floods
US
560 23.08.2006 Storms, hail, floods
US
500 02.04.2006 Tornados and hail
US
Table: The deadliest catastrophes in 2006
Victims Date Event
Country
(dead and (Beginning)
missing)
5,778 27.05.2006 Earthquake (ML 6.3) destroys
the Indonesia
city of Bantul
1,350 26.11.2006 Typhoon Durian (Reming), flash
Philippines
rains, mudslide on Mt Mayon
volcano
1,333 15.01.2006 Cold spell; power shortages
Eastern
Europe
1,026 02.02.2006 Ferry al-Salam 98 sinks off
the Egypt
coast
1,000 23.04.2006 Passenger train collides with
North Korea
goods train
1,000 12.02.2006 Rain triggers rubble and
mudslide Philippines
For the chart of Insured claims 1970-2006, please refer
to
http://xprnnews.xfn.info/swissre/20061220/claims.htm .
Definitions and selection criteria for sigma
catastrophe statistics:
Natural catastrophes Loss events triggered by
natural forces
Man-made disasters Loss events associated with
human activities
Total losses Losses with a direct economic
impact
Insured propertyclaims Part of total loss covered by
property
insurance
Minimum selection criteria:
Total losses USD 80m
Or: Insured property Shipping: USD 16.1m
claims Aviation: USD 32.2m
Other: USD 40m
Or: Casualties Dead or missing: 20
Injured: 50
Homeless: 2000
Notes to editors
Swiss Re
Swiss Re is the world's leading and most diversified
global reinsurer.
The company operates through offices in over 30 countries.
Founded in
Zurich, Switzerland, in 1863, Swiss Re offers financial
services products
that enable risk-taking essential to enterprise and
progress. The company's
traditional reinsurance products and related services for
property and
casualty, as well as the life and health business are
complemented by
insurance-based corporate finance solutions and
supplementary services for
comprehensive risk management. Swiss Re is rated "AA
-" by Standard &
Poor's, "Aa2" by Moody's and "A+" by
A.M. Best.
For more information, please contact:
Eileen Lim
Corporate Communications, Asia
Tel: +852-2582-3600
Web: http://www.swissre.com
SOURCE Swiss Re
2007'02.11.Sun
Revitalizing China's Countryside Through Securing Rural Land Rights
December 21, 2006
Project Signed to Address Problems Surrounding Land Rights,
Governance and
Public Services in Rural China
BEIJING, Dec. 20 /Xinhua-PRNewswire/ -- A project that
aims to revitalize
rural China by addressing problems surrounding property
rights, governance
and the provision of public services was signed today in
Beijing between
United Nations Development Programme (UNDP) and the Chinese
government.
Entitled "Revitalizing Rural China through Land
Policy Reform and
Innovation in Rural Governance and Public Service
Delivery," the 4-year
project is designed to propose policy, legislative and
institutional reforms
to support the Chinese government in its on-going
initiative to re-focus on
rural areas and build a "new socialist
countryside" for the 800 million
population living in rural China.
"Creating a new countryside will require solving a
complex set of
interrelated and difficult problems," said Khalid
Malik, UN Resident
Coordinator and UNDP Resident Representative in China, at
the signing
ceremony. "Securing rural land rights, stronger
bargaining power for farmers
and the sufficient compensation for land use have been
identified as key to
rural reform in China."
He also stressed that adequate and equal provision of
public services,
improved, effective, and representative local governments
and an influential
civil society are all goals outlined in the 11th five-year
plan. These goals
will be instrumental to achieving the government's vision
of a harmonious
well-off Xiaokang society and meet the Millennium
Development Goals (MDGs).
"As the pressure for urban expansion mounts around
the country, stories
abound of farmers being forced off their land with little
compensation and no
means of recourse," Malik said. "The priority
for rural reform is to connect
the land with the rights of farmers to use, transfer and
reap the benefits of
it."
Through policy research and pilot in implementation,
the US$5 million
project aims to clarify rural land property rights and
establish clear,
equitable and efficient mechanisms to uphold those rights.
These methods
will further be used to identify obstacles to improving
local governance in
rural areas, providing public goods and services and
protecting farmers'
rights. Knowledge sharing, policy debates and dialogues
will be used with an
aim to spread knowledge of best practices.
Developing rural areas, where economic development has
lagged behind that
of China's booming cities, has been highlighted as a
priority by the Chinese
government. The policy recommendations aim to enhance
growth, efficiency and
equity in rural areas and bridge rural-urban inequalities.
This initiative is a joint effort between the UNDP, the
Ministry of Land
Resources (MLR), China Institute of Reform and Development
(CIRD), and the
China International Center for Economic and Technical
Exchanges (CICETE)
under the Ministry of Commerce.
UNDP fosters human development to empower women and men
to build better
lives in China. As the UN's development network, UNDP
draws on a world of
experience to assist China in developing its own solutions
to the country's
development challenges. Through partnerships and
innovation, UNDP works to
achieve the Millennium Development Goals and an equitable
Xiao Kang society
by reducing poverty, strengthening the rule of law,
promoting environmental
sustainability, and fighting HIV/AIDS.
http://www.undp.org.cn
For more information, please contact:
Ms. Zhang Wei,
Communications Officer,
UNDP China
Tel: +86-10-8532-0715
Email: wei.zhang@undp.org
SOURCE United Nations Development Programme
2007'02.11.Sun
Ogilvy Asia Pacific Named '2006 Network of the Year' by Media Magazine
December 21, 2006
Ogilvy Beijing Wins Top Honours: Ogilvy Beijing Named
Office of the Year and
Shenan Chuang Named Agency Head of the Year
BEIJING, Dec. 20 /Xinhua-PRNewswire/ -- Ogilvy &
Mather Asia Pacific
dominated the agency honours in Media's 2006 Agency of the
Year Awards. It
won Network of the Year, the top prize in the award show,
supported by its
concurrent wins as Creative Agency of the Year (Ogilvy
& Mather) and One-to-
One Agency of the Year (OgilvyOne).
Ogilvy & Mather Beijing also won Office of the Year
while Ms. Shenan
Chuang, Chairman/CEO Ogilvy & Mather Beijing and
Vice-Chairman Ogilvy China,
was named National Agency Head of the Year.
"This is really a win for China," said Shenan
Chuang, Chairman, Ogilvy
Beijing. "This year we focused our efforts on raising
the standard of
creativity, effectiveness and integration within Ogilvy
Beijing and that is
reflected in this win. Additionally, we focused
considerable energy on
setting the industry standard through the establishment of
the China 4A
association, and it's really exciting for the industry in
China as a whole,
to see a China agency to be recognized by these
awards."
Ms Chuang's National Agency Head award marks the first
time a woman or a
candidate from China has won the award.
"It's such an honour to receive this award, not
only for China but for
all the amazing women in the industry," said Chuang.
"There are so many
truly inspiring female leaders in Asia, and it's incredible
to be counted
among them."
All in all, of the six Agency/Agency head awards,
Ogilvy took top honours
in four of the categories. It is our belief that in 12
years, no other
agency has dominated these awards as we did last night.
This year, the agency has been active in many fronts.
Setting up
Neo@Ogilvy, a digital media planning and buying business,
and being
recognized in international creative awards as a global,
not just a regional,
force are just two highlights.
As demonstrated by its work on the Motorola business,
Ogilvy partners
with clients in a way that brings big ideas, implemented in
all media.
Motorola also won Client Brand of the Year and Client
Marketer of the Year.
About Ogilvy & Mather China
Ogilvy China ( http://www.ogilvy.com.cn ) is the
largest marketing
communications network in China. It offers the full range
of marketing
communication disciplines including advertising, direct
marketing,
interactive media, database management, public relations,
graphic design, and
related marketing disciplines. As Brand Stewards, the
agency works to
leverage the brands of its clients by combining local
know-how with a
worldwide network, creating powerful campaigns that address
local market
needs while still reinforcing the same universal brand
identity. Ogilvy &
Mather integrates these communications disciplines using
its proprietary 360
Degree Brand Stewardship process, which holds that every
point of contact
builds the brand.
Ogilvy & Mather Worldwide ( http://www.ogilvy.com )
is one of the largest
marketing communications network in the world, operating
497 offices in 125
countries. Ogilvy & Mather Worldwide is a member of
WPP plc (Nasdaq: WPPGY),
one of the world's leading advertising and communications
services groups.
For more information, please contact:
Dalton Dorne
Corporate Communications
Ogilvy & Mather China, Beijing
Tel: +86-10-8520-6535
Fax: +86-10-8520-6600
Email: dalton.dorne@ogilvy.com
SOURCE Ogilvy China
2007'02.11.Sun
Element Six and Filtronic Team up to Develop High-Frequency Diamond Electronic Devices
December 21, 2006
ASCOT, England, Dec. 20 /Xinhua-PRNewswire/ -- Diamond
Microwave Devices
(DMD) is a new subsidiary set up by Element Six, a world
leader in the
development of Chemical Vapour Deposition (CVD) diamond
technology. This new
company aims to develop novel diamond semiconductor
materials and processing
technology that will help create the next generation of
high-power, high
temperature semiconductor devices for use in microwave
power amplifiers and
transmitters.
At the same time, Element Six (E6) has signed a
collaboration agreement
with Filtronic plc to work with DMD and develop this
exciting new
technology. Filtronic is a world leader in the design and
manufacture of a
broad range of microwave devices, components and subsystems
used in
electronic defence, point-to-point communication and
cellular handsets.
Filtronic and E6 will use their complementary
high-technology strengths in
materials, semiconductor device processing and circuits to
expedite the
development of this new microwave technology which has the
potential of
revolutionising microwave power electronics.
E6, a leader in the development of CVD diamond, can
enable wider
exploitation of the advanced engineering properties of this
material. For
high power electronics, CVD diamond offers unique
properties such as high
breakdown voltage and high temperature operation. If a
practical
semiconductor device can be demonstrated, it could have the
potential to
provide superior microwave power and higher operating
temperatures than
existing semiconductor devices and technologies. E6 has
been involved with
major research and industrial programmes such as the
Department of Trade and
Industry sponsored CAPE (Carbon Power Electronics)
programme aimed at
overcoming the technical challenges of developing
diamond-based electronics
components.
Dr. Richard Lang, General Manager of DMD, has said;
"Whilst the technical
challenges are high, a diamond MESFET could revolutionise
the design of
future microwave power modules. There is much work to be
done in order to
realise a practical device, and we are excited by the
opportunity to explore
the boundaries of this emerging technology." Mr.
Christian Hultner, CEO of
E6, notes, "Diamond has the potential to be the
ultimate semiconductor for
high-frequency, high-power electronic applications. The
establishment of DMD
provides greater momentum to our activities in this area
and will accelerate
the development of practical devices."
About Element Six
Element Six is the world leader in the production of
all forms of
synthetic diamond for industrial use. Element Six has
pioneered the
development of CVD diamond technology since the 1980s, with
a world-renowned
research centre at Ascot dedicated to this activity. CVD
diamond opens up
many new application areas outside the traditional abrasive
uses of synthetic
diamond. Uses of CVD diamond include laser exit windows,
cutting tools,
surgical blades, windows for high-power gyrotrons,
heat-spreaders for
electronic devices as well as active electronic devices.
About Filtronic:
Filtronic is a world leader in the design and
manufacture of a broad
range of microwave devices, components and subsystems used
in electronic
defence, point-to-point communication and cellular
handsets. The company
includes a major GaAs processing facility at its Compound
Semiconductor
division in Newton Aycliffe and manufactures custom complex
microwave
subsystems at its Defence division in Shipley. The company
also designs and
manufactures microwave modules for the point-to-point
communications market.
For more information, please contact:
Dr Richard Lang
General Manager
Element Six Ltd
Tel: +44-7980-234874
Email: info@diamondmicrowavedevices.com
SOURCE Element Six Ltd
2007'02.11.Sun
From Battlefield to the Boardroom, Chinese Management Theory Illustrated in First Book on Coaching in China
December 21, 2006
The First Book of its Kind Since Sun Tzu's "Art of
War,"
"The Power of Ren" Recounts China's Budding
Coaching Industry
BEIJING, Dec. 20 /Xinhua-PRNewswire/ -- The trend of
China aspiring to
all things Western could be reversed with a new book that
applies centuries-
old Chinese philosophy to the realities of 21st Century
China. TopHuman, the
leading coaching institution in China, released today the
first book on
Chinese coaching and management theory titled, "The
Power of Ren: China's
Coaching Phenomenon."
"The Power of Ren" narrates the development
and application of the REN
Coaching Model(C), a hybrid coaching system of Western
management theory and
Chinese philosophy that TopHuman developed to introduce the
concept of
coaching into China a decade ago. The book also raises
important factors
that have empowered China to its status as a global
economic power.
Ms. Eva Wong, Chairperson, President and founder of
TopHuman, said, "Most
books about China aim to crack the mystery of Chinese
culture or explain why
things are the way they are. I'm bringing to Western
audiences my
perspective as a coach in China, which is a direct avenue
into understanding
the cultural aspects that drive this nation. In this way,
I want to enhance
exchanges between China and the rest of the world."
Ronald A. Heifetz, author of "Leadership Without
Easy Answers" and co-
founder of the Center for Public Leadership at the John F
Kennedy School of
Government, Harvard University, commented, "Tapping
the deep wisdoms of the
East and the West, The Power of Ren provides a unique,
practical, and
inspirational synthesis useful to anyone from the West
doing business in
China. It is also profoundly useful to managers and
citizens throughout
China as they create a glowing future for their economy and
country."
Eva Wong has also written and co-authored other books
about experiential
learning, including TopHuman's first acclaimed title,
"The REN Coaching
Model."
"The Power of Ren: China's Coaching
Phenomenon" is published by John
Wiley & Sons, Inc. and is available through the
publisher and web retailers
Amazon.com and Yoyo.com.
About TopHuman
TopHuman is in the business of enhancing corporate
values, growth and
sustainability. As a human capital developer, we are the
pioneer of coaching
in Asia. Our internationally accredited coaches help
develop executive
leadership and employee empowerment, develop HR management
and project
coordination, and coordinate marketing/sales and
organizational planning.
Established in Vancouver, Canada, in 1995, TopHuman has
over 400 staff in
offices and franchises in Beijing, Shanghai, Hangzhou,
Guangzhou, Shenzhen,
Chengdu, Chongqing, Taiyuan, Qingdao and Dongguan, Hong
Kong, Macau, Taiwan,
Singapore and San Francisco, USA. TopHuman has attained
several
qualifications, including the ISO9001:2000 certification in
International
Quality Assurance and accreditation from the International
Coach Federation
About John Wiley & Sons Inc.
Founded in 1807, John Wiley & Sons, Inc., provides
must-have content and
services to customers worldwide. Our core businesses
include scientific,
technical, and medical journals, encyclopedias, books, and
online products
and services; professional and consumer books and
subscription services; and
educational materials for undergraduate and graduate
students and lifelong
learners. Wiley has publishing, marketing, and
distribution centers in the
United States, Canada, Europe, Asia, and Australia. The
company is listed on
the New York Stock Exchange under the symbols JWa and JWb.
Wiley's Internet
site can be accessed at http://www.wiley.com .
For more information, please contact:
TopHuman
Raymond Fang
Corporate Communications Officer
Tel: +86-10-8515-0140
Email: raymondfang@tophuman.com
Hill & Knowlton
Tzyy Wang
Senior Consultant
Tel: +86-10-5861-7575
Email: tzyy.wang@hillandknowlton.com.cn
SOURCE TopHuman
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