Why Use Cash - Use Digital Cash

December 5, 2016, 4:50 am

≫ Next: Aviva Launches India's First Heart Insurance for Couples "Aviva Heart Care"

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Business Wire IndiaUAE Exchange, India the leading financial institution is all set to swipe off the financial emergency with its comprehensive XPay Cash Wallet which could surprise citizens with its personalised features like never before. Cash saturation at ATMs, huge queues for bank deposit and exchange counters have created a catastrophic situation across the nation. To combat the urgent situation, UAE Exchange India has made arrangements to facilitate cashless digital transaction for all Indian Citizens with its improvised XPay Cash wallet with more user friendly features.

M-commerce has started its ball rolling years back across the world and now India has to take such fast and logical strides to overcome the rest.

Customers can download XPay Cash wallet from http://www.uaeexchangeindia.com/Xpay-Cash-Wallet to make all your payments and transfers instantly for free.

Shop owners can register as Merchant and use XPay Cash Wallet to receive all their payments from customers absolutely free.

About UAE Exchange

UAE Exchange India is one of the pioneers of financial services renowned for its penchant quality and optimized service trends, creating a niche for itself in the industry. Connecting people and creating progress with the finest of quality is the vision of the company that has an extensive reach of 400 branches serving a population of 1.25 million people under the proficient support of 3375 employees. The company has been instrumental in providing cost-effective service in Foreign Exchange, Money Transfer, Air Ticketing & Tours, Loans, XPay Cash Wallet, Insurance and Share Trading.

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Aviva Launches India's First Heart Insurance for Couples "Aviva Heart Care"

December 7, 2016, 4:54 am

≫ Next: Everstone Group Partner P M Devaiah Enters General Counsel Legal Powerlist

≪ Previous: Why Use Cash - Use Digital Cash

Business Wire IndiaAviva Life Insurance, today announced the launch of the first ever heart insurance for couples in India - Aviva Heart Care.

Mr Trevor Bull, MD & CEO, Aviva India, the Aviva Brand Ambassador, Sachin Tendulkar and eminent Cardiac surgeon Dr. Naresh Trehan at the launch of Aviva Heart Care product launch

A unique feature of this product is that it allows you to cover your spouse and you in the same policy at a nominal extra premium. Aviva Heart Care also has options to restore policy benefits, once the basic sum assured is exhausted, for severe category conditions. The policy provides coverage against 19 mild, moderate and severe cardiovascular conditions, and procedures & allows lump sum payout irrespective of cost of treatment.

Indians are prone to heart ailments due to multiple factors including genetics, unhealthy diet, sedentary lifestyle, stress etc. making it the Cardio Vascular Disease capital of the world. Customer research indicated that people are not adequately covered under a mediclaim policy and also that 78% of hospitalization expenses are out of pocket.

Aviva Heart Care is a dedicated, comprehensive heart care plan that fills the gap that exists today.

Speaking on the occasion, Mr Trevor Bull, Managing Director and CEO, Aviva Life Insurance said, “At Aviva, we are committed to helping people lead a healthy life. As part of our “Good Thinking” philosophy, we conceptualized “Aviva Heart Care” to help people achieve their healthy heart goals & also encourage them to make health a priority for themselves and their spouses.”

Speaking at the launch, The Guest of Honour, eminent Cardiac surgeon Dr. Naresh Trehan said, “The incidence of cardio-vascular disease in India has gone up by 30% in people below the age group of 40 years. Today it is among the fastest growing chronic illnesses in India, growing rapidly at 9.2% annually. We often see that people are not sufficiently covered financially when they come for treatment.”

The Aviva Brand Ambassador, Sachin Tendulkar reaffirming the need for such a product said, “As a sportsman I have always emphasised the need for fitness and believe that a healthy heart is key to a happy life. A policy like Aviva Heart Care will ensure that families pledge to their mutual health goals. I believe it is truly “Good Thinking” to insure both hearts that are so critical to keep the family together.”

There are 4 options available with Aviva Heart Care plan

ME	Comprehensive coverage for self
ME+	Comprehensive coverage for self with twice the coverage for severe category conditions
WE	Comprehensive coverage for self and spouse
WE+	Comprehensive coverage for self and spouse with twice the coverage for severe category conditions

Key benefits of the plan are as below:

Comprehensive coverage against 19 cardiovascular conditions
Benefit paid over & above mediclaim
Multiple claims allowed basis severity
Coverage for self & spouse with double the coverage for severe category conditions
Option to double the coverage for major conditions on exhaustion of initial sum assured
Couple policy WE comes at an incremental cost basis age, term & sum assured for spouse

Illustration

For a 40 year old male, with Rs 10 Lakh cover for a 10 year term, the premium is only Rs 4279 and the spouse if say is 5 years younger at 35 years. The combined premium for both would be Rs 4634 including taxes. I.e. just about 8% more to cover the spouse.

The minimum entry age for buying the product is 28 years and maximum entry age is 65 years. The policy term is fixed between 10-25 years, subject to the maximum maturity age of 75 years. The policy has a maximum sum assured of Rs 50 Lakhs/life.

About Aviva India:

Aviva India is a joint venture between Dabur Invest Corp (DIC) and Aviva International holdings Limited (AIH) - a UK based insurance group, whose association with India dates back to 1834. DIC holds 51% of the share capital while AIH holds 49% of the share capital.
Aviva in India has 121 branches and over 10,000 FPA’s.
Aviva India’s CSR program ‘Street to School’ focuses on empowering underprivileged children through education.
www.avivaindia.com
Follow us on Facebook: http://www.facebook.com/AvivaIndia
Follow us on twitter: www.twitter.com/AvivaIndia

Photo Caption: Mr Trevor Bull, MD & CEO, Aviva India, the Aviva Brand Ambassador, Sachin Tendulkar and eminent Cardiac surgeon Dr. Naresh Trehan at the launch of Aviva Heart Care product launch

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Everstone Group Partner P M Devaiah Enters General Counsel Legal Powerlist

December 7, 2016, 8:00 pm

≫ Next: OT and Australian Fintech Start-up Inamo Have Partnered to Introduce Inamo’s Wearable Devices and Platform into the Australian Market

≪ Previous: Aviva Launches India's First Heart Insurance for Couples "Aviva Heart Care"

Business Wire IndiaP M Devaiah, Partner and General Counsel, Everstone Group, has been selected to The Legal 500 GC Powerlist for India, the only person from a private equity firm to make the prestigious honour roll of legal experts, Everstone announced today.

The Legal 500 GC Powerlist for India 2016 is the inaugural one for the country and recognises corporate General Counsels for their outstanding work. The GC Powerlist series from The Legal 500 (based in London) highlights the most influential in-house lawyers in business. The series has covered regions and countries including the UK, the US, France, Italy, Switzerland, Germany, the Middle East, and the Nordics.

Devaiah has more than 25 years of corporate and legal experience, having worked at some of India’s largest and most successful companies, including Tata Projects, Hindustan Unilever, BPL Group, Carlyle Group, and ICICI Venture.

He joined the Everstone Group in 2007, and several key features of his tenure include transforming its legal department into an ‘in-house law firm’, training his team to be ‘completely business like’, and positioning the unit to become a strategic and integral part of the company to deliver high-quality services, as well as add-value to business teams. Devaiah holds a Bachelor of Commerce degree and a Master of Law degree from the University of Mysore.

Congratulating Devaiah on this achievement, Sameer Sain, Co-Founder & Managing Partner of the Everstone Group, said: “We are extremely proud of Devaiah for not only being selected to this prestigious list but also for being the sole representative from the private equity sector.

This honour rightly recognizes the great work he has done in helping make the Everstone Group a successful organization with the highest standards of corporate governance and ethics,” Sain added.

For his part, Devaiah said: “It’s an honour to be included in The Legal 500 GC Powerlist. The role of General Counsel has changed significantly in recent years. General Counsels are no longer limited to a reactive role but instead are key members of the corporate decision-making team, as is the case in Everstone.”

The Legal 500 finds the “best of the best” by canvassing opinions from law firm partners and in-house counsel across India, to identify corporate counsel that have been instrumental in changing or forming opinions within their company or industry.

About Everstone Group

The Everstone Group is a premier India and Southeast Asia focused private equity and real estate investment firm with assets under management of USD $3.3 billion. Everstone has around 200 people working in six offices—Singapore, Mumbai, Delhi, Bengaluru, Mauritius and London. The firm’s strong presence and network in India and Southeast Asia allows its existing and new portfolio businesses to build operations in the region and beyond. Everstone has been awarded ‘Private Equity Firm of the Year in India’ by Private Equity International for five consecutive years from 2011 to 2015.

For more information, visit www.everstonecapital.com

Photo Caption: P M Devaiah, Partner and General Counsel, Everstone Group

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OT and Australian Fintech Start-up Inamo Have Partnered to Introduce Inamo’s Wearable Devices and Platform into the Australian Market

December 8, 2016, 7:00 am

≫ Next: Quercus Announces the €150 Million First Close of its New Renewable Energy Infrastructure Funds

≪ Previous: Everstone Group Partner P M Devaiah Enters General Counsel Legal Powerlist

Business Wire India

OT (Oberthur Technologies), a leading global provider of embedded security software products, services and solutions, has today signed an agreement to provide its digital payment enablement technology to Inamo’s wearable solutions, starting with the CURL which is being launched in Australia today.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20161208005500/en/

The CURL is a multi-functional wearable that will initially enable consumers to make payments by simply tapping their device to any point of sale terminal where Visa payWave is accepted. The action would be the same as with a credit or debit card. What makes this different from smart phones, smart watches and other wearables is that the CURL is rugged, waterproof and will not need any power to facilitate payment. So there would be no fears of bringing it for water sports or of low battery conditions preventing payment when it is most needed.

The wearables segment of the market has the potential to quickly become a significant channel where it is not always convenient or possible to carry a wallet or payment card. For example, while at the beach or while participating in sports such as running, swimming or cycling.

In addition to contactless payments, over the next 18 months the CURL will also be available to use for payment on public transport, building access, ticketing for festivals, and gym membership. In effect this can combine the functions of multiple products into one multi-purpose wearable device and continues the trend of device / technology convergence.

OT’s industry leading embedded digital security, EMV hardware and OS will equip Inamo’s devices. Next generation models will include the use of OT’s embedded Secure Element (eSE) PEARL by OT® which not only has the capability to support payment, access control, transport, ID and biometric applications but also ensures security as good as that normally found in EMV payment cards.

Under the terms of the agreement, Inamo will provide a full consumer solution which will leverage its own platform and OT’s next generation digital payment enablement solution. The CURL will be sold for $19.99, plus an account keeping fee of $5 per month. An initial, limited allotment of the product will be available in January; pre-orders can be made via Inamo’s website at www.inamo.com.

“OT is very excited to partner with this home grown Australian Fintech company.This partnership with Inamo is going to be a key differentiator in the Australian market and will expand the reach of payments technologies and solutions to new frontiers. We are thrilled to continue to expand the portfolio of wearable devices powered with OT’s security and payments solutions,” said Mark Garvie, Asia Financial Services Institutions Managing Director at OT.

“For OT to partner with Inamo to deliver our wearable solutions into the Australian market is an endorsement of our platform, applications, devices and what we will be developing in the future,” said Peter Colbert, Founder & CEO, Inamo.

Australia’s largest customer-owned bank, Heritage Bank, will act as the Authorised Deposit-taking Institution (ADI), holding all monies loaded onto the CURL and overseeing settlement as the CURL is used and then reloaded.

“We’re thrilled to be able to use our specialist expertise in cards and virtual payments to help Inamo develop new wearable products.Heritage is an innovation leader in this sector in Australia, and our skills and attitude make possible the fantastic new ideas that partners such as Inamo are working on,” said Heritage Bank CEO Peter Lock.

ABOUT OBERTHUR TECHNOLOGIES

OT is a world leader in embedded digital security that protects you when you connect, authenticate or pay.

OT is strategically positioned in high growth markets and offers embedded security software solutions for “end-point” devices as well as associated remote management solutions to a huge portfolio of international clients, including banks and financial institutions, mobile operators, authorities and governments, as well as manufacturers of connected objects and equipment.

OT employs over 6 500 employees worldwide, including almost 700 R&D people. With a global footprint of 4 regional secure manufacturing hubs and 39 secure service centers, OT’s international network serves clients in 169 countries.

For more information: www.oberthur.com

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ABOUT INAMO
Inamo was established in 2016 and is one of the founding members of Sydney fintech hub, Stone and Chalk. Inamo stands for ‘In a Moment’ and its mission is to move your wallet to a wearable. Its first product is a multi-functional wearable called the CURL, which will initially give people on the go a way to pay without having to carry around or worry about the whereabouts and security of their wallet or phone.

ABOUT HERITAGE BANK:
Heritage Bank is Australia's largest customer-owned bank. With a history stretching back to 1875, Heritage has a network of 61 branches across southern Queensland and a national presence via the mortgage broker market in every state and territory in Australia. Heritage Bank offers the full range of financial products and services, including home loans, personal loans, savings and transaction accounts, term deposits, credit cards, insurance, financial planning and foreign exchange.
For further information: www.heritage.com.au

View source version on businesswire.com: http://www.businesswire.com/news/home/20161208005500/en/

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Quercus Announces the €150 Million First Close of its New Renewable Energy Infrastructure Funds

December 9, 2016, 9:24 pm

≫ Next: Ascent Resilience Solutions Pvt Ltd Recognized and Awarded with Prestigious IT INNOVATION of the Year (MSME) Category at Express IT Awards 2016

≪ Previous: OT and Australian Fintech Start-up Inamo Have Partnered to Introduce Inamo’s Wearable Devices and Platform into the Australian Market

Business Wire India

Quercus Assets Selection, which specialises in renewable infrastructure investments announces that it has reached its first close of €150 million, led by its Co-Founder and CEO, Diego Biasi.

The three new funds are targeting an annual dividend yield of 6%, distributed semi-annually and an IRR above 11%. Quercus is looking to raise a combined €500 million across the three funds by December 2018, which will place Quercus among the top three renewable energy infrastructure funds in Europe. The funds’ next closing is expected to take place during the first half of 2017.

Quercus launched the three funds early in 2016 as part of a unique project to combine three separate renewable energy funds to provide choice and flexibility. The funds are a €150 million Italian Wind fund, a €150 million Italian Solar fund and a €200 million European MultiTech fund.

Diego Biasi, Co-Founder and CEO of Quercus: “2016 is proving to be another big year for Quercus. We will double AUM, as we have annually since inception, despite increasing global market volatility. We are aiming to be one of the largest European investors in renewable energy within five years, which we will do by collaborating with the top financial and industrial partners across Europe.”

Vito Gamberale, Chairman of Quercus: “Our goal is to acquire existing facilities that have a minimum of three years’ consolidated activity behind them, ensuring that our plants reach productivity targets. This aspect, along with defined rates attributed to each facility, translates into returns that match high yield bonds while also benefitting from investment grade assets whose returns are uncorrelated with market volatility.”

FULL PRESS RELEASE AVAILABLE AT: http://www.quercus-partners.com

About Quercus

Quercus Investment Partners Limited, based in London, is regulated by the FCA and provides consultancy services to Quercus Assets Selection Sarl, general partner of the SICAV-SIF Quercus Assets Selection SCA which is regulated by the CSSF in Luxembourg.

The objective of Quercus Assets Selection is to create a balanced portfolio of assets, diversified both technologically and geographically, which protect against inflation and provide a low correlation with traditional financial markets and deliver stable and predictable cash flows over a long investment period.

For further information please visit www.quercus-partners.com

View source version on businesswire.com: http://www.businesswire.com/news/home/20161209005492/en/

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Ascent Resilience Solutions Pvt Ltd Recognized and Awarded with Prestigious IT INNOVATION of the Year (MSME) Category at Express IT Awards 2016

December 12, 2016, 7:00 am

≫ Next: The Valence Group Advises Evonik on Its Acquisition of Huber Silica

≪ Previous: Quercus Announces the €150 Million First Close of its New Renewable Energy Infrastructure Funds

Business Wire IndiaAscent Resilience Solutions, a next generation Enterprise Financial technology transformation company with its innovative products and solutions, today announced that it has won the SILVER award in the prestigious IT INNOVATION of the Year 2016 (MSME) category at Express IT Awards 2016.

The Express I.T. Awards recognizes and honors companies who are at Cutting Edge Technology Innovation and leading professionals across the IT industry.

ASCENT Wins the Prestigious Express IT Awards 2016 for IT INNOVATION

The award ceremony was organized on 9^th December 2016 at Marriott in Whitefield, Bengaluru and the award felicitates innovations by I.T. companies that have transformed or have the potential to transform their clients’ business. The awards were adjudged by an eminent jury panel comprising of globally recognized innovators – corporate heads, academicians and thought-leaders from the I.T. industry.

The Express I.T. Award nominations were processed with a thorough scrutiny by The Financial Express editorial team and PwC as Knowledge Partner, to ensure that only the complete, innovative and timely entries are placed in front of the eminent jury comprising a panel of globally recognized innovators.

Ascent Resilience Solutions has excelled par over 400 entries in the nine categories to grab this Silver Category for IT Innovation Award.

The annual list of Companies was evaluated by globally recognized Innovators—Kris Gopala Krishnan, Infosys Co-founder; Rajan Anandan, Google-India & South east-Asia; Professor Sadagopan, Director-IIIT Bangalore; Ravi Gururaj, Chairman, NASSCOM Product Council; Sharad Sharma, Former Yahoo R&D Head and Co-founder of ISPIRIT Foundation; Umang Bedi, Managing Director – Facebook India.

“The prestigious award at IT Innovation validates Ascentʻs unique value proposition towards offering disruptive and scalable product offerings in the Industry. Ascent competes with some of the global players and has moved quickly towards offerings its Solution as SaaS (Software as a Service) to maximise its reach and align with changing Technology dynamics. I am very proud of our Team and clients who supported and truly believed in our transformation capabilities while we delivered some big product deployments,” says Founder & Chief Executive Officer, Mr. Kundan Shekhawat.

“It’s an honor and privilege to have received the award in person from esteemed Chief guest Union Minister Nirmala Seetharaman and Guest of honor state IT minister Priyank Kharge who personally recognized and offered full support to fast growing Innovative companies like Ascent. Ascent has a strategic vision to bring value in the fast moving Indian Economy after consistently delivering successful engagements in Overseas markets and is aligned with digital cashless economy of India ,” said Dr Binduu Rathore, Co-Founder & MD.

For Ascent Resilience to be recognised amidst competition of over 400 award entries in nine different categories, highlights its merit in providing innovative IT solutions for business transformation. Ascent innovative products includes its Enterprise Reconciliation Platform, AUTORECON^©, Automated Integrated Business Continuity Management and Crisis Management Software Ascent AUTOBCM^© and End to end Real estate Trust Account Management Software Ascent Escrow Promat^©.

Ascent AutoRecon^© software is a first in the industry that is readily configurable, real-time and powerful reconciliation solution, which provides an end-to-end enterprise-wide scalable solution to manage banking reconciliation and handle exceptions for complex business process in large and medium size banks.

Ascent AutoBCM^© Software Solution is a powerful, flexible, yet simple-to-use Business Continuity Management (BCM) system set that allows organizations of all sizes, to meet their BCM requirements in a cost-effective and meaningful way.

Ascent Escrow ProMart^© is the first in industry developed, Real Estate Escrow trust account Management solution designed specifically to meet Bank’s escrow trust account management in compliance to Real estate land regulations and guidelines in various countries of the world.

About Express IT Awards

Express I.T. Awards is an initiative of The Financial Express (Express Group) aimed at recognising innovation and excellence across the IT/ITes industry.

The Awards discover, recognize and reward IT initiatives that have enabled businesses to go beyond the ordinary, and also have had a positive impact on the community at large.

This 4th edition of the prestigious Award brings together those empowered to drive innovation in their organizations – CEOs, COOs, CSOs, CTOs and others in their capacity as CXOs or Innovation Heads

About Ascent:

Ascent is a niche software solution provider focused in Financial Technology, Risk Management and Business process automation solutions Ascent’s strength lies in developing financial technology products with innovative approaches to business needs, utilizing state-of-the-art technology, backed by commitment to deliver and support these products.

Website: http://www.ascentitgroup.com/

Key Software Products Offered by Ascent are :

Ascent AutoRecon: Enterprise Reconciliation Platform with integrated Exception Handling, Case Management and Regulatory Reporting. AutoRecon Offers multi tenancy capability and caters to end to end Transaction Life cycle management across any middle office and back office operations within Banking/ Financial Service/ Govt and Telecom.

http://www.ascentitgroup.com/autorecon-bank-reconciliation-software/

Ascent AutoBCM: Enterprise Business Continuity Management is a web based Integrated BCM and Crisis Management Software offerings compliance with ISO 22301 and full scale automation towards conducting Business Impact Analysis, Business continuity Plans, Testing, Emergency Response, Risk Assessment and Recovery Strategies. This brings value to any organization which is critical and needs resilience capabilities for any kind of disaster/ crisis.

http://www.autobcm.com/

Ascent Escrow ProMart: It is a web based software which caters to end to end Real Estate regulatory requirements and enables Banks, Investors , Property Developers to manage their operations, Escrow Trust account onboarding, Payables, Receivables and Regulatory reporting.

http://www.ascentitgroup.com/ascent-promart/

Photo Caption: ASCENT Wins the Prestigious Express IT Awards 2016 for IT INNOVATION

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The Valence Group Advises Evonik on Its Acquisition of Huber Silica

December 12, 2016, 8:28 pm

≫ Next: Mywish Marketplaces Announces Appointment of New Members to the Board

≪ Previous: Ascent Resilience Solutions Pvt Ltd Recognized and Awarded with Prestigious IT INNOVATION of the Year (MSME) Category at Express IT Awards 2016

Business Wire India

The Valence Group has advised Evonik on its acquisition of the silica business of J.M. Huber for $630 million.

Huber Silica is a world class, global precipitated silica business, focused primarily on dental and life science applications, with revenue of close to $300 million and an EBITDA of $60 million in 2016. The business is highly complementary to Evonik’s silica business in predominantly tires, coatings and industrial applications, and Evonik expects to generate sustainable EBITDA synergies of $20 million by 2021. Additionally, the transaction is structured to yield $80 million in net present value tax benefits to Evonik.

The acquisition, announced on Dec 9, 2016, is scheduled to be completed in the second half of 2017, subject to approval by the responsible authorities.

The Valence Group also acted as financial advisor to Evonik earlier this year on its $3.8 billion acquisition of Air Products' Performance Materials business.

About Evonik

Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Profitable growth and a sustained increase in the value of the company form the heart of Evonik’s corporate strategy. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms. Evonik is active in over 100 countries around the world. In fiscal 2015 more than 33,500 employees generated sales of around €13.5 billion and an operating profit (adjusted EBITDA) of about €2.47 billion.

About The Valence Group

The Valence Group is a specialist investment bank offering M&A advisory services exclusively to companies and investors in the chemicals, materials and related sectors. The Valence Group team includes a unique combination of professionals with backgrounds in investment banking and strategy consulting within the chemicals and materials industries, all focused exclusively on providing M&A advisory services to the chemicals and materials sector. The firm’s offices are located in New York and London.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161212005565/en/

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Mywish Marketplaces Announces Appointment of New Members to the Board

December 13, 2016, 12:53 am

≫ Next: Chase tops $1 trillion in processing volume for merchant clients in 2016

≪ Previous: The Valence Group Advises Evonik on Its Acquisition of Huber Silica

Business Wire India

Alok Sethi, Chairman, Franklin Templeton Services and Vivek Kudva, MD (EMEA & India), Franklin Templeton Investments have joined the Board effective July, 2016 and Samir Sood, ex-Googler and Founder, Venture Highway, has joined the Board effective October 2016

Mywish Marketplaces (MMPL), the company that owns Deal4loans.com, today announced strategic additions to their Board of Directors. Financial industry veterans Alok Sethi, Chairman, Franklin Templeton Services, and Vivek Kudva, Managing Director, EMEA & India, Franklin Templeton Investments have joined the company’s Board of Directors effective July 2016. MMPL aggregates, markets and facilitates the sale of loan products and credit offerings from banks and financial institutions, and runs some of the largest financial marketplaces in India.

MMPL pioneered the neutral loan marketplace in India and has successfully established trust with over 7 million customers, leveraging technology to enhance customer acquisition for participating banks’ loan products, and smarter matching of customers with products. Sales transactions are also conducted on the platform itself. Mr. Sethi and Mr. Kudva bring along a wealth of proven industry experience and acumen in finance and business.

Welcoming Mr. Alok Sethi and Mr. Vivek Kudva on Board, Puru Vashishtha, Board Chairman, Mywish Marketplaces Private Limited, commented, “We are excited to have Mr. Alok Sethi and Mr. Vivek Kudva join our Board of Directors. Their vast experience and valuable expertise in developing some of the largest and most successful financial services businesses in the world, will provide our board with a unique perspective and effective mentorship.” He further added, “They are thought leaders in using technology in financial services space. We look forward to a long-term relationship with them, to learn from their experience.”

Alok Sethi is Chairman of Franklin Templeton Services (FTS). FTS provides investment management services to Franklin Templeton products globally. Prior to joining Franklin Templeton, Mr. Sethi was with MphasiS BFL, as the chief of staff to the chairman. Before MphasiS, he was the COO of Andersen as a part of their India Leadership Team. Mr. Sethi is a member of the Institute of Chartered Accountants of India and is a Bachelor of Commerce (honours) graduate from Delhi University.

“I am delighted to come on-board at Mywish Marketplaces, one of the pioneers of financial marketplaces in India. Over the past few years, with increased digital connectivity, the impetus has been on using technology as a medium to improve access to financial products,” Mr. Sethi said. He further added, “MMPL’s deep understanding of the financial domain and technical skills can very well be leveraged to capitalize on this opportunity and thereby expand the distribution of financial products to consumers.”

Vivek Kudva is Managing Director for EMEA & India. He has over 30 years' experience in the financial services industry. He has been with Franklin Templeton for over 10 years. Prior to joining Franklin Templeton, Mr. Kudva was General Manager of Banking with National Bank of Oman, Muscat. Mr. Kudva is an engineering graduate from the Indian Institute of Technology (IIT) Delhi, and has a post-graduate diploma in management from the Indian Institute of Management Ahmedabad (IIMA).

“I am happy to partner with Mywish Marketplaces. With proven expertise in business and technology, they are well placed to develop an all-inclusive digital ecosystem, providing wealth management and investment product-related services to Indian customers,” Mr. Kudva said.

Mr. Samir Sood has joined the Board, representing prominent Silicon Valley investor, Mr. Ram Shriram and Sherpalo Capital.

“Mywish Marketplaces/ Deal4loans has developed and deployed some of the most sophisticated technology and has positioned itself as one of the cutting edge and premier FinTech company in the world. Their algorithms for customer acquisition and matchmaking are world class. They have greater than 40% customer repeat rates, which is unheard of in their space. I am impressed by Deal4loans' ability to leverage technology to build a large and scaled consumer internet business in India, and that too profitably. It’s probably the only large consumer internet play in India that is profitable at PAT level. This is commendable. I am excited to join the board of Mywish Marketplaces, and help them enter the next orbit of growth.

Welcoming Mr. Samir Sood on Board, Puru Vashishtha, Board Chairman, Mywish Marketplaces Private Limited, commented, “Samir bring a unique perspective of having analyzed and invested in multiple technology businesses across the world for Google and Cisco. His understanding of scaling technology businesses globally and his access to some of the best technology leaders and talent will be very valuable for us, particularly as we ramp up our team.”

Samir Sood is the founder of Venture Highway (“VH”), an early stage venture fund focused on investing in India and is advised by Neeraj Arora, Business Head at WhatsApp. Prior to this, Samir was the Head of South Asia, Australia - M&A and Investments for Google Inc., and in that capacity, he has led Google’s investments in several first time seed stage funds in India: Erasmic Venture Fund (Accel India), SONG (Soros, Omydiar, Google Fund), Seedfund, and Ventureast TeNet Fund II. Additionally, Samir was part of the team that coordinated the $750 million acquisition of AdMob. Earlier Samir was part of the Corporate Business Development team at Cisco Systems, Inc. where he led wireless acquisitions and investments, which included the $450 million acquisition of Airspace. Samir executed the first venture investment in India (India Games) for Cisco Systems, Inc. among many other acquisitions and investments. In addition, Samir has helped grow and diversify India Forge, a family run auto parts manufacturing business. Samir has an MBA from the University of Chicago, Graduate School of Business, a Master of Science in Mechanical Engineering from Tufts University, and a Bachelor of Science in Mechanical Engineering from Worcester Polytechnic Institute.

About Franklin Templeton Investments

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management to retail, institutional and sovereign wealth clients in over 180 countries. Through specialized teams, the Company has expertise across all asset classes- including equity, fixed income, alternative and custom solutions. The Company’s more than 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in 35 countries, the California–based company has more than 65 years of investment experience and $723 billion in assets under management as of October 31, 2016. For more information, please visit franklinresources.com.

About Mywish Marketplaces Private Limited

Mywish Marketplaces Private Limited (MMPL) runs neutral financial marketplaces that leverage its proprietary technology to intermediate between the banks and customers seeking banking products. MMPL operates websites including its flagship website www.deal4loans.com. MMPL has more than 7 million direct customers and has disbursed more than Rs. 10,000 crores in retail loans and is also one of the largest aggregators of credit cards. MMPL works with almost all of India’s largest banks across multiple products such as Home loans, Personal loans, Credit cards, Business loans and Loans against Property. MMPL has built a large-scale consumer internet business, without losing its focus on profitability, by leveraging its technology. MMPL’s mission is to help its customers make responsible financial decisions.

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Chase tops $1 trillion in processing volume for merchant clients in 2016

December 13, 2016, 6:44 am

≫ Next: Guy Carpenter Appoints James Nash President of New International Division

≪ Previous: Mywish Marketplaces Announces Appointment of New Members to the Board

Business Wire India

At 11:06 p.m. eastern time last night, JPMorgan Chase crossed the $1 trillion mark in year-to-date merchant processing volume, a first in the firm’s history.

Merchant processing volume at the firm has grown annually from $750 billion in 2013 to nearly $950 billion in 2015. Black Friday 2016 had an increase of 12 percent in total transaction dollar volume, and Cyber Monday was 30 percent higher than last year.

“Our clients benefit from the fact that we’re intensely focused on payment processing, yet part of a global financial institution that can support their broader business needs,” said Commerce Solutions CEO Matt Kane. “We’re fortunate to work with companies of every size, from local pizza places to global enterprises, and their success is directly reflected in ours.”

JPMorgan Chase is the #1 ranked merchant acquirer worldwide according to the April 2016 Nilson Report and is capable of authorizing transactions in more than 120 currencies. In 2014 the firm launched ChaseNet^SM, a proprietary closed-loop network, and Chase Pay^SM, the firm’s digital wallet, launched last month.

About Chase

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $2.5 trillion and operations worldwide. Chase serves nearly half of America’s households with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: 5,300 branches, 16,000 ATMs, mobile, online and by phone. For more information, go to Chase.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161212006125/en/

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Guy Carpenter Appoints James Nash President of New International Division

December 13, 2016, 7:11 am

≫ Next: OT is Deploying 20 Million Italian Health and Citizen Services Cards

≪ Previous: Chase tops $1 trillion in processing volume for merchant clients in 2016

Business Wire India

Guy Carpenter & Company, LLC, a leading global risk and reinsurance specialist and a wholly owned subsidiary of Marsh & McLennan Companies (NYSE:MMC), today announced the appointment of James Nash to the newly-created role of President, International, subject to regulatory approval. Mr. Nash, who currently runs Guy Carpenter’s Asia Pacific operations, will continue reporting to Peter Hearn, President & CEO of Guy Carpenter, and will relocate to London.

Guy Carpenter's International Division will consist of all operations in the Europe, Middle East and Africa (EMEA), Latin America and Caribbean, and Asia Pacific regions. A successor for Mr. Nash in Asia Pacific will be announced in 2017.

“Guy Carpenter’s International Division will advance our ability to apply best practices around the world to deliver a coordinated and consistent experience for our clients,” said Mr. Hearn. “With his deep industry relationships and global operating experience, James is the ideal executive to help our clients in these regions grow their businesses profitably.”

“Guy Carpenter is uniquely positioned to provide strategic advice and critical services to our clients in this rapidly changing global business environment,” said James Nash. “I look forward to working with Guy Carpenter's global team of talented colleagues as we deliver market-leading solutions to our clients.”

Mr. Nash joined Guy Carpenter in 1985 and assumed his present role in 2008.

“The new Guy Carpenter organizational structure reflects our commitment to delivering a high-quality and consistently compelling global client experience,” said Mr. Hearn.

About Guy Carpenter

Guy Carpenter & Company, LLC is a leading global risk and reinsurance specialist. Since 1922, the company has delivered integrated reinsurance and capital market solutions to clients across the globe. As a most trusted and valuable reinsurance broker and strategic advisor, Guy Carpenter leverages its intellectual capital to anticipate and solve for a range of business challenges and opportunities on behalf of its clients. With over 2,300 professionals in more than 60 offices around the world, Guy Carpenter delivers a powerful combination of broking expertise, strategic advisory services and industry-leading analytics to help clients achieve profitable growth. For more information on Guy Carpenter’s complete line-of-business expertise and range of business units, including GC Specialties, GC Analytics^®, GC Fac^®, Global Strategic Advisory, GC Securities*, Client Services and GC Micro Risk Solutions^®, please visit www.guycarp.com and follow Guy Carpenter on LinkedInand Twitter @GuyCarpenter.

Guy Carpenter is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE:MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy, and people. With annual revenue of $13 billion and 60,000 colleagues worldwide, Marsh & McLennan Companies provides analysis, advice, and transactional capabilities to clients in more than 130 countries through: Marsh, a leader in insurance broking and risk management; Mercer, a leader in talent, health, retirement, and investment consulting; and Oliver Wyman, a leader in management consulting. Marsh & McLennan is committed to being a responsible corporate citizen and making a positive impact in the communities in which it operates. Visit www.mmc.com for more information and follow us on LinkedIn and Twitter @MMC_Global.

*Securities or investments, as applicable, are offered in the United States through GC Securities, a division of MMC Securities LLC, a US registered broker-dealer and member FINRA/NFA/SIPC. Main Office: 1166 Avenue of the Americas, New York, NY 10036. Phone: (212) 345-5000. Securities or investments, as applicable, are offered in the European Union by GC Securities, a division of MMC Securities (Europe) Ltd. (MMCSEL), which is authorized and regulated by the Financial Conduct Authority, main office 25 The North Colonnade, Canary Wharf, London E14 5HS. Reinsurance products are placed through qualified affiliates of Guy Carpenter & Company, LLC. MMC Securities LLC, MMC Securities (Europe) Ltd. and Guy Carpenter & Company, LLC are affiliates owned by Marsh & McLennan Companies. This communication is not intended as an offer to sell or a solicitation of any offer to buy any security, financial instrument, reinsurance or insurance product. **GC Analytics is a registered mark with the U.S. Patent and Trademark Office.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161212006150/en/

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OT is Deploying 20 Million Italian Health and Citizen Services Cards

December 13, 2016, 7:22 am

≫ Next: Guy Carpenter Forms New Global Strategic Advisory Organization to Provide Clients with Enhanced Solutions

≪ Previous: Guy Carpenter Appoints James Nash President of New International Division

Business Wire India

OT (Oberthur Technologies), a leading global provider of embedded security software products and services, today announced that following its selection by Italy’s Ministry of the Economy and Finance (MEF), it is deploying 20 million Citizen Services Cards (CNS) throughout the country.

CNS is the official Italian Health and Citizen Services Card providing citizens throughout Italy with convenient, secure access to a range of on-line and off-line health and government services. Thanks to its recognized know-how and as a key player on the identity and healthcare markets, OT is currently deploying in the field millions of dual interface Common Criteria certified cards, as well as the corresponding digital signature application. Furthermore, the OT solution is fully compliant with the Netlink (eHIC) European Union framework.

As the key supplier to the CNS initiative, OT is working in close partnership with the publically owned Società Generale d'Informatica (SOGEI) and the country’s Regional Public Administration authorities to deploy the solution across Italy. Thanks to its high-end expertise, OT will provide its latest technologies and related services to Italian citizens.

“OT is delighted to have been selected to help deliver this landmark healthcare initiative. It is a reflection of our proven ability to deliver complex projects in close cooperation with multiple national and regional authorities, and highlights our significantly increased presence in Italy.” said Christophe Fontaine, Managing Director of OT’s Citizen Access & Identity Business.

ABOUT OBERTHUR TECHNOLOGIES

OT is a world leader in embedded digital security that protects you when you connect, authenticate or pay.

OT is strategically positioned in high growth markets and offers embedded security software solutions for “end-point” devices as well as associated remote management solutions to a huge portfolio of international clients, including banks and financial institutions, mobile operators and governments, as well as manufacturers of connected objects and equipment.

OT employs over 6,500 employees worldwide, including almost 700 R&D people. With a global footprint of 4 regional secure manufacturing hubs and 39 secure service centers, OT’s international network serves clients in 169 countries. For more information: www.oberthur.com

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View source version on businesswire.com: http://www.businesswire.com/news/home/20161213005568/en/

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Guy Carpenter Forms New Global Strategic Advisory Organization to Provide Clients with Enhanced Solutions

December 14, 2016, 3:48 am

≫ Next: Trail Towards the Beauty of DSF-2017 with UAE Exchange

≪ Previous: OT is Deploying 20 Million Italian Health and Citizen Services Cards

Business Wire India

Guy Carpenter & Company, LLC, a leading global risk and reinsurance specialist and a wholly owned subsidiary of Marsh & McLennan Companies (NYSE:MMC), today announced a newly-created Global Strategic Advisory organization comprised of its Advisory, Analytics, Structured Risk, M&A Advisory, Lloyd’s Capital, and Business Intelligence capabilities.

Rob Bentley has been appointed President of Global Strategic Advisory. Mr. Bentley re-joins Guy Carpenter from Marsh, where most recently he ran the US and Canada Division. Mr. Bentley will report to Peter Hearn, President & CEO of Guy Carpenter, and will be based in New York. Mr. Bentley is a 30-year veteran of insurance and reinsurance broking, with significant executive and operational experience in analytics and software development.

“Guy Carpenter’s Strategic Advisory organization will add value to clients by delivering a globally consistent methodology for our advisory tools and capabilities,” said Mr. Hearn. “I am pleased to welcome Rob back to Guy Carpenter in this important leadership role.”

In connection with the creation of the Global Strategic Advisory organization, Vicky Carter has been appointed Vice Chairman of Global Strategic Advisory. Ms. Carter will also report to Mr. Hearn, and will continue to be based in London. A reinsurance industry veteran with more than 35 years of experience, most recently Ms. Carter served as Vice Chair of Guy Carpenter’s international operations, and previously has held multiple prominent leadership roles in the industry.

“The new Guy Carpenter Global Strategic Advisory organization reflects our commitment to delivering a high-quality and consistently compelling global client experience,” said Mr. Hearn. “Vicky is a seasoned executive who will work closely with our major clients and prospects around the world to help them grow profitably by identifying strategic opportunities.”

About Guy Carpenter

Guy Carpenter is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy, and people. With annual revenue of $13 billion and 60,000 colleagues worldwide, Marsh & McLennan Companies provides analysis, advice, and transactional capabilities to clients in more than 130 countries through: Marsh, a leader in insurance broking and risk management; Mercer, a leader in talent, health, retirement, and investment consulting; and Oliver Wyman, a leader in management consulting. Marsh & McLennan is committed to being a responsible corporate citizen and making a positive impact in the communities in which it operates. Visit www.mmc.com for more information and follow us on LinkedIn and Twitter @MMC_Global.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161213006217/en/

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Trail Towards the Beauty of DSF-2017 with UAE Exchange

December 14, 2016, 5:45 am

≫ Next: White Oak Acquires Capital Business Credit

≪ Previous: Guy Carpenter Forms New Global Strategic Advisory Organization to Provide Clients with Enhanced Solutions

Business Wire IndiaWorld’s biggest shopping festival is all set to welcome the people from all across the world with its cheerful and vibrant vibes of artificial extravagance. It’s the perfect time to book your flight to Dubai for having the most exciting and enlightening experiences of amazing shopping fiesta.

Trail towards the beauty of DSF-2017 with UAE Exchange

The mesmerizing and splendid bouquet of festivities and activities in the desert nation arrests the attention of millions towards DSF, which is considered to be ‘shopper’s paradise’. DSF which is undoubtedly the final destination for a shopaholic family to get the desired products at the most affordable and unexpected rates along with lot more fun, leisure and cuisine. The magical land of Dubai is all set to serve a blend of Christmas and New Year surprises for the travelers.

UAE Exchange India the leading travel and tour agent offers special DSF packages for a colorful New Year. Designed with customized packages for reasonable rates, echelons of all ages can make exotic moment with your dear ones.

Mr. V George Antony Managing Director, UAE Exchange India shared, “DSF has emerged as the festival for people around the world due to its blend of culture, shopping experience, cuisine and the cordial hosting with International standards, all set in one Arabian platter.”

As part of Dubai Shopping Festival, daily departures are being offered from major airports across the country. To provide thrilling DSF experience for every traveler, UAE Exchange India offers customized tour packages through its 372 branches across India. Avail DSF packages through our website to get an exclusive discount of Rs. 1000/- now.

About UAE Exchange India

We are an accredited Passenger Sales Agent by IATA with 9 IATA locations spread in the metropolitan cities of Delhi, Mumbai, Hyderabad, Chennai, Mangalore, Kochi, Trichy, Trivandrum and Calicut. Over the years UAE Exchange India has become one among the top ten travel agents of the country for many International Airlines. UAE Exchange India provides a whole basket of travel and financial services to our customers with affordable and world-class experience.

UAE Exchange India is one of the pioneers of financial services renowned for its penchant quality and optimized service trends, creating a niche for itself in the industry. Connecting people and creating progress with the finest of quality is the vision of the company that has an extensive reach of 372 branches serving a population of 1.25 million people under the proficient support of 3375 employees. The company has been instrumental in providing cost-effective service in Foreign Exchange, Money Transfer, Air Ticketing & Tours, Loans, XPay Cash Wallet, Insurance and Share Trading.

Photo Caption: Trail towards the beauty of DSF-2017 with UAE Exchange

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White Oak Acquires Capital Business Credit

December 16, 2016, 9:45 am

≫ Next: XPay Cash Wallet Conferred with Order-of- Merit

≪ Previous: Trail Towards the Beauty of DSF-2017 with UAE Exchange

Business Wire India

White Oak Global Advisors, LLC on behalf of its institutional clients (collectively “White Oak”), announced that White Oak has expanded its asset-based lending platform through the acquisition of Capital Business Credit, LLC (“CBC”), a leading commercial finance company that provides asset-based loans, factoring and trade finance products to small and middle-market companies.

As part of the transaction, White Oak acquired CBC’s existing loan portfolio, which is comprised of over $300 million of assets employed, and the CBC team along with its office locations in New York, Charlotte, Fort Lauderdale, Los Angeles, Hong Kong and Shanghai. The CBC and White Oak platform will be able to provide asset-based loans, factoring and trade finance credit facilities ranging from $1-$100 million to underserved middle-market companies.

White Oak is pleased to welcome the senior leadership team of CBC including Andrew Tananbaum, Robert Grbic, Michael Fortino and the approximately 80 members of the CBC team, and believes their expertise will allow White Oak to achieve further success and scale in the commercial finance sectors.

“The acquisition of CBC expands White Oak’s lending capabilities into the significant and growing asset-based lending market while providing White Oak’s investors with attractive alternative credit strategies. Capitalizing on acquisitions of platforms with disciplined lending practices, such as CBC, is an important component of White Oak’s overall strategy,” White Oak CEO Andre Hakkak said in a statement.

“This transaction with White Oak provides CBC with the capability to offer a larger set of factoring and trade finance solutions and products. We now have the ability to finance larger, more complex transactions and the flexibility to offer our current clients a broader array of offerings,” said Andrew Tananbaum of CBC. “In our nearly 30 years of providing asset-based and trade finance solutions, CBC has focused on serving small and middle-market companies and we now have the breadth and capabilities to offer our best-in-class financing products to a much broader portion of the economy.”

Houlihan Lokey served as an exclusive financial advisor to CBC in connection with the transaction.

ABOUT WHITE OAK GLOBAL ADVISORS, LLC

White Oak Global Advisors, LLC is a leading global alternative asset manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Since its inception in 2007, White Oak Global Advisors, LLC’s disciplined investment process focuses on delivering risk-adjusted investment returns and establishing long term partnerships with our borrowers. More information can be found at www.whiteoaksf.com.

ABOUT CAPITAL BUSINESS CREDIT

Established in 1988, Capital Business Credit, LLC is a global financial products and services company. The Company’s solutions include full-service factoring, accounts receivable management services, inventory lending, asset-based lending, and international financing. CBC Trade Finance, a division of CBC, provides trade finance solutions for U.S.-based importers working with Asia-based suppliers (exporters). Capital Business Credit is based in New York, with offices in Hong Kong, Shanghai, Los Angeles, Charlotte, and Fort Lauderdale. Capital Business Credit is an indirect wholly-owned subsidiary of White Oak Fixed Income Fund C, L.P. More information can be found at www.capitalbusinesscredit.com.

ABOUT HOULIHAN LOKEY

Houlihan Lokey (NYSE: HLI) is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, valuation and strategic consulting. The firm serves corporations, institutions, and governments worldwide with offices in the U.S., Europe, and the Asia-Pacific region. Independent advice and intellectual rigor are hallmarks of our commitment to client success across our advisory services. Houlihan Lokey is ranked as the No. 1 M&A advisor for all U.S. transactions, the No. 1 global restructuring advisor, and the No. 1 global M&A fairness opinion advisor over the past 15 years, according to Thomson Reuters. More information can be found at www.hl.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161215005104/en/

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XPay Cash Wallet Conferred with Order-of- Merit

December 17, 2016, 12:30 am

≫ Next: The Valence Group Advises Canexus on Its Sale to Chemtrade

≪ Previous: White Oak Acquires Capital Business Credit

Business Wire IndiaExcellence in the innovation of XPay Cash Wallet has molded UAE Exchange India to pave it way towards the glory of numerous glittering awards. XPay Cash Wallet has recently achieved India’s highest independent civilian honor, Skoch New Economy Award 2016, during the 46^th Skoch Summit on 15^th December 2016 at Constitution Club of India, New Delhi.

UAE Exchange India VP & CIO, Mr. Jos Babu receives “Skoch New Economy Award 2016”

The triumphant endeavor made by UAE Exchange India on its advanced initiative in XPay Cash Wallet, a mobile wallet with multiple user-friendly features has gained wide acceptance and massive appreciation.

Vice President and Chief Information Officer, Mr. Jos Babu has received “Skoch Order-of-Merit” for XPay Cash Wallet which was rated as the 3rd best among the top 100 nominated projects. Awards were given by the most professional and renowned panel of experts and was adorned by an array of dignitaries including several Union and State Ministers in addition to CEO’s, industry captions, economists, consultants and academia.

Gem of appreciation from the most professional and renowned panel of experts has made this award recognizes the company’s brands that are set to blaze new benchmarks in the industry in keeping with quality standards.

About UAE Exchange

UAE Exchange India is one of the pioneers of financial services renowned for its penchant quality and optimized service trends, creating a niche for itself in the industry. Connecting people and creating progress with the finest of quality is the vision of the company that has an extensive reach of 372 branches serving a population of 1.25 million people under the proficient support of 3375 employees. The company has been instrumental in providing cost-effective service in Foreign Exchange, Money Transfer, Air Ticketing & Tours, Loans, XPay Cash Wallet, Insurance and Share Trading.

Photo Caption:

UAE Exchange India VP & CIO, Mr. Jos Babu receives “Skoch New Economy Award 2016”

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The Valence Group Advises Canexus on Its Sale to Chemtrade

December 17, 2016, 6:35 am

≫ Next: The Estée Lauder Companies Completes Its Acquisition of Too Faced

≪ Previous: XPay Cash Wallet Conferred with Order-of- Merit

Business Wire India

The Valence Group has advised Canexus Corporation (TSX: CUS) on its sale to Chemtrade Logistics Income Fund (TSE: CHE.UN) for cash consideration of C$1.65 per common share, equivalent to an enterprise value of approximately C$900million.

The transaction, which has been unanimously approved by the Canexus Board of Directors, is structured as a Plan of Arrangement and is subject to regulatory and shareholder approval, as well as other customary closing conditions. Canexus is recommending shareholders vote in favor of the transaction and closing is expected before the end of April 2017.

The Valence Group also provided a fairness opinion to the Board of Directors of Canexus.

About Canexus

Canexus produces sodium chlorate and chlor-alkali products largely for the pulp and paper and water treatment industries. Canexus' common shares (CUS) and debentures Series IV - CUS.DB.B; Series V - CUS.DB.C; Series VI - CUS.DB.D) trade on the Toronto Stock Exchange.

About The Valence Group

View source version on businesswire.com: http://www.businesswire.com/news/home/20161215006553/en/

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The Estée Lauder Companies Completes Its Acquisition of Too Faced

December 20, 2016, 3:23 am

≫ Next: Itron Broadens Electrification in Indonesia with Smart Payment Solution

≪ Previous: The Valence Group Advises Canexus on Its Sale to Chemtrade

Business Wire India

The Estée Lauder Companies Inc. (NYSE: EL) announced today that it has completed its acquisition of Too Faced, the feminine, playful makeup brand renowned for high-quality, stylish cosmetics that consumers love.

Launched in 1998 by cosmetics visionaries Jerrod Blandino and Jeremy Johnson, and currently led by Johnson, Blandino and Eric Hohl, Too Faced offers an unabashedly empowering line of cosmetic products for the eyes, face and lips. Beloved for its high-quality, innovative formulas, irreverent product names and distinctive packaging, Too Faced creates an emotional, authentic connection with consumers and has developed a strong following and built a vibrant community among millennials who are passionate about social media, fashion and pop culture. Too Faced has over 7.6 million Instagram followers and is among the top eight makeup brands in the specialty-multi channel in the United States.

About The Estée Lauder Companies Inc.

The Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The Company’s products are sold in over 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, Tommy Hilfiger, M·A·C, Kiton, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone London, Bumble and bumble, Michael Kors, Darphin, Tom Ford, Smashbox, Ermenegildo Zegna, AERIN, Tory Burch, RODIN olio lusso, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, By Kilian, BECCA and Too Faced.

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View source version on businesswire.com: http://www.businesswire.com/news/home/20161219006159/en/

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Itron Broadens Electrification in Indonesia with Smart Payment Solution

December 21, 2016, 12:59 am

≫ Next: UAE Exchange India, MD Won VPN IBE Award 2016

≪ Previous: The Estée Lauder Companies Completes Its Acquisition of Too Faced

Business Wire India

Itron, Inc. (NASDAQ:ITRI), a world-leading technology and services company dedicated to the resourceful use of energy and water, announced that PT Mecoindo, a joint venture between Itron and a local partner in Indonesia, is expanding its work with PT PLN (Persero) to broaden electrification for residents in Indonesia. The utility recently signed a new contract with PT Mecoindo for an additional 500,000 smart payment meters, which expands upon an agreement announced earlier this year to deploy 635,000 smart payment meters. With the deal, more PT PLN customers will have access to electricity as well as a convenient, cost-effective way to manage and pay for their usage.

After a successful initial rollout, PT PLN decided to expand its use of Itron’s smart payment solution to include a total of more than 1 million meters. The solution helps the utility implement revenue protection measures while empowering consumers to manage their electricity usage according to their budget and needs. With Itron’s smart payment solution, consumers have insights into their remaining energy balance, reducing the likelihood of an untimely shut-off. In addition, PT PLN is benefiting from the ability to streamline customer service and bill payment while reducing operational costs, delinquent account risks and improving cash flow.

“Itron’s smart payment solution is helping PT PLN enhance our ability to provide convenient and affordable electricity services to energy consumers in Indonesia. We are pleased to be able to extend this benefit to even more customers with this new contract,” said Septa Hamid, general manager of supply chain management at PT PLN (Persero). “With Itron’s high-quality, reliable technology, we are expanding electrification and improving service to our customers.”

“We look forward to continuing our collaboration with PT PLN to provide consumers with a convenient, cost-effective way to prepay for electricity,” said George Daenuwy, PT Mecoindo president. “Itron’s smart payment solution directly supports the goals and outcomes of PT PLN’s electrification program and enables the utility and its customers to better manage energy resources.”

About Itron

Itron is a world-leading technology and services company dedicated to the resourceful use of energy and water. We provide comprehensive solutions that measure, manage and analyze energy and water. Our broad product portfolio includes electricity, gas, water and thermal energy measurement devices and control technology; communications systems; software; as well as managed and consulting services. With thousands of employees supporting nearly 8,000 customers in more than 100 countries, Itron applies knowledge and technology to better manage energy and water resources. Together, we can create a more resourceful world. Join us: www.itron.com.

Itron^® is a registered trademark of Itron, Inc. All third party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161220005267/en/

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UAE Exchange India, MD Won VPN IBE Award 2016

December 23, 2016, 11:50 pm

≫ Next: QNB Group: Growth Is Expected To Slow As Government Stimulus Is Eased

≪ Previous: Itron Broadens Electrification in Indonesia with Smart Payment Solution

Business Wire IndiaUAE Exchange India, Managing Director, Mr. V George Antony won the VPN International Business Excellence (IBE) Award 2016. Mr. Antony was awarded with the prestigious accolade for Business Excellence award in Customer Focus. Chief Marketing Officer Mr. R Sudhakar received the award on 15th December 2016 in a function held at Hotel Crowne plaza on behalf of UAE Exchange India.

UAE Exchange India, MD won VPN IBE Award 2016

The VPN International Business Excellence Award 2016, organised by Unique Times, is the business awards given to honour internationally acclaimed business personalities from Kerala.

Video link: https://www.youtube.com/watch?v=_ej5J3alb94

Mr. V George Antony, Managing Director UAE Exchange, India shared “We continue the endless service keeping the motto ‘Service is our Currency’ for catering the needs of customers from every nook and corner of the nation. Positive responses as well as good feedbacks from the customers always motivate and inspire the company to retain the reliable services in the upcoming years.”

About UAE Exchange

UAE Exchange India is one of the pioneers of financial services renowned for its penchant quality and optimized service trends, creating a niche for itself in the industry. Connecting people and creating progress with the finest of quality is the vision of the company that has an extensive reach of 372 branches serving a population of 1.25 million people under the proficient support of 3375 employees. The company has been instrumental in providing cost-effective service in Foreign Exchange, Money Transfer, Air Ticketing & Tours, Loans, XPay Cash Wallet, Insurance and Share Trading.

Photo Caption: UAE Exchange India, MD won VPN IBE Award 2016

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QNB Group: Growth Is Expected To Slow As Government Stimulus Is Eased

December 26, 2016, 2:50 am

≫ Next: For the First Time in India Get 8 Times Delivery Exposure on Cash Balance with Achiievers Equities Ltd, Starting January 1, 2017

≪ Previous: UAE Exchange India, MD Won VPN IBE Award 2016

Business Wire India

QNB Group has published its China Economic Insight 2016 report. The report examines recent developments and the outlook for the Chinese economy as concerns about mounting corporate debt and overheating property prices force the government to scale back stimulus.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20161225005010/en/

Real GDP (% change, year-on-year) - (Graphic: ME NewsWire)

Real GDP growth has fallen steadily in recent years, eroded by slower growth in private investment and weak external demand, which has prompted the government to support the economy through public investment and easier monetary policy.

Growth is expected to slow from 6.7% in 2016 to 6.1% in 2018 on weaker investment growth as concerns about mounting corporate debt and overheating property prices force the government to scale back stimulus.

The current account surplus is expected to decline from 2.1% of GDP in 2016 to 1.0% in 2017, mainly as a consequence of the secular decline in exports, but then recover in 2018 to 1.3% as imports related to the investment programme decrease.

After weakening around 7% against a trade weighted basket of currencies in 2016, we expect the authorities to maintain broad stability of CNY in 2017-18.

The stable currency should help drawdowns of international reserves to moderate and we expect reserves to remain sizable at over 15 months of import cover.

In 2016, we expect the budget deficit to widen mainly owing to lower government revenue as the authorities implement new tax cuts which will low the cost of doing business.

In 2017, a focus on pro-consumption measures, such as social security spending, is expected to expand the deficit further.

In 2017-18, we anticipate a pull-back in public investments to address mounting levels of debt (public debt is expected to grow to 51.2% of GDP by 2018 from 45.8% in 2016).

Deposit growth is expected to fall on slower GDP growth and capital outflows while credit growth remains high, leading to tighter liquidity.

Credit growth is expected to cool but remain high in 2017-18 due to tighter monetary policy, a slowdown in public investment and liquidity constraints.

Profitability is likely to come under pressure on rising NPLs as the economy slows, but the authorities are expected to regulate shadow banking and capitalisation should remain relatively strong.

Other recent QNB Economic Insight reports include India, Indonesia, Jordan, Kingdom of Saudi Arabia, Kuwait, Oman, Qatar, Singapore, the United Arab Emirates and Vietnam and are available on the QNB Group website. QNB Group operates in more than 30 countries across 3 continents and its economic reports leverage its knowledge of these markets to provided added value for its clients and counterparties.

*Source: ME NewsWire