Are you the publisher? Claim or contact us about this channel


Embed this content in your HTML

Search

Report adult content:

click to rate:

Account: (login)

More Channels


Channel Catalog


older | 1 | .... | 45 | 46 | (Page 47) | 48 | 49 | .... | 69 | newer

    0 0

    Business Wire India

    Visa (NYSE: V) announced an expansion of Visa’s Everywhere Initiative (VEI) for 2018 with a more dynamic program, new participating countries, and an elevated level of support for participants. Visa’s Everywhere Initiative is a global innovation program that tasks start-ups to solve commerce challenges of tomorrow, further enhance their own product propositions and provide visionary solutions for Visa’s vast network of partners.

     

    This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180228005403/en/

     
    Visa's Everywhere Initiative "By the Numbers" (Graphic: Business Wire)

    Visa's Everywhere Initiative "By the Numbers" (Graphic: Business Wire)

    Visa’s Everywhere Initiative will begin 2018 with a broader approach that presents program participants with challenges unique to each region and propel digital commerce solutions. This year’s program updates include:

     
    • Robust country lineup: The 2018 roster spans five continents, with the next two programs launching in the United States on March 19 and Russia on March 15. The lineup includes Visa’s Everywhere Initiatives in the following locations:
      • North America: United States
      • Asia-Pacific: Thailand*, Vietnam*, China
      • Latin America: Mexico, Colombia, Peru, Chile, Brazil, Argentina
      • Europe; Middle East: Russia*; additional Europe countries to be added
      • Africa: Sub-Saharan Africa*
    • New participants: Visa’s Everywhere Initiative will usher in the next generation of innovators with the addition of three student-focused initiatives: in Europe, a partnership with Junior Achievement, student participation in the Russia 2018 VEI program, and with Northwestern University’s “MMM” student program in the United States.
    • Dynamic format: The program will expand beyond the traditional country competition format to offer more ways for startups to participate in Visa’s Everywhere Initiative, which may include immersion workshops at Visa’s global network of Innovation Centers, networking opportunities within Visa’s global partner network and expanded regional competitions.
    • Innovative briefs: To support the global trends shaping the FinTech category as outlined in Visa’sInnovations for a Cashless World: Consumer Desire and the Future of Payments report, start-ups will answer briefs tackling the biggest challenges that face the commerce landscape today, both globally and regionally – for example, expanding access to digital payments in Latin America, conversational commerce solutions in North America, cross border travel for tourists in Asia, open banking solutions in Europe and more.
    • Bridge of support: To reward top participants, Visa may provide monetary prizes, access to Visa’s products and services via APIs on Visa Developer Platform, expert mentorship and support from Visa and exposure to key FinTech constituents across banking, merchant and government sectors.

    “Visa’s Everywhere Initiative is in a unique position to help uncover, support and apply emerging technologies to today’s biggest digital commerce challenges,” said Shiv Singh, senior vice president, Innovation and Strategic Partners at Visa. “No longer confined by the geographical proximity to established innovation hubs, the brightest ideas are coming from all corners of the world and this continues to be a successful way for Visa and its partners to collaborate with some of the most promising start-ups.”

     

    Since starting in 2015, Visa’s Everywhere Initiative has awarded over $1 million and mentorship to more than 130 finalists - from companies looking to push the boundaries of tomorrow to those looking to create quick, real-life payment implementations. One of these companies is LISNR, which won the US program in 2016, is exploring ways to transfer payments through sound with Visa and its partners in Asia-Pacific.

     

    "Visa's Everywhere Initiative originally opened up the possibility of using sound to support payments and other financial services use cases,” said Rodney Williams, CEO of LISNR. “Over the past few years, we've worked closely with Visa to validate this concept and we’re excited for a future where contactless payment activity may be supplemented by data-over-audio."

     

    Visa also continues to work with previous winners such as IncreaseCard (Latin America), QPal (Middle East), EasyShare (Asia-Pacific), HopOn (Europe) and Losant (North America) that are pushing the boundaries of the commerce ecosystem.

     

    For more information on the 2018 lineup for Visa’s Everywhere Initiative, how to get involved and participation terms, visit: https://usa.visa.com/visa-everywhere/everywhere-initiative.html

     

    * denotes new country in 2018 for Visa’s Everywhere Initiative

     

    About Visa Inc.

     

    Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit usa.visa.com/about-visa.html, visacorporate.tumblr.com and @VisaNews.

     

     
    MULTIMEDIA AVAILABLE :
    http://www.businesswire.com/news/home/20180228005403/en/

    0 0

    Business Wire IndiaBiz2Credit Inc., a leading online marketplace and an internationally acknowledged digital finance service provider bring in a global platform to India titled as Frontiers of Digital Finance - India Roundtable. This is a progression of a round-robin conference started in New York in October 2017 & now all set to reunite a panel of catalysts for a candid appraisal of the Digital & Financial Ecosystem of the country. The Roundtable will take place in the business Capital of India, Mumbai (Hotel Four Seasons, Worli), on 7th March, 2018.

    Conceptualised as a knowledge forum, the conference is an ‘only by Invite’ event. This will be a confluence of the think tanks of the Fintech arena, industry leaders, policymakers, regulators as well as other stakeholders from the Banking & Finance Industry. The discussions will focus on the new challenges & opportunities emerging in contrast of a paradigm shift in customer’s expectations from the financial institutions resulting from an emerging digital generation & government’s recent strategic policy enforcements such as GST, Aadhar, PAN, Bio-metrics & Demonetization targeting to attain 100% financial inclusion. The conference plenary also aims to highpoint issues in digital credit, a convergence of payments with lending and the role of AI and ML in enhancing the customer experience as well as risk management. Launch of an exclusive white paper on Frontiers of Digital Finance in association with PwC is another highlight of the event.
     

    “The Indian financial services sector is at the cusp of a revolution however, the country’s bid for robust financial inclusion demands a more resilient delivery of financial services. With this conference, we aim to bring together key influencers, decision makers and industry leaders to drive a robust discussion on the health of the fintech sector, the policy implications driving the growth of digital finance and how integrated and open systems are enabling this transformation,” said Biz2Credit Co-founder and CEO Rohit Arora. He further added, “With the Frontiers of Digital Finance conference, we hope to contribute in building a knowledge ecosystem, bolstering innovation and enabling financial inclusion and better access to credit for individuals and SMEs.”
     
    Key partners include FICCI, USISPF, Edelweiss, AWS, IBM, Tata Capital, Mahindra Finance, PwC, BAIN and Company, SNG, ODGERS, Intellect, Asia Society & Tally.
     
    Agenda includes sessions on:
    • New Business Models and Organisational Transformation in the Digital Financial Services World
    • Future of Payments and Convergence with Lending
    • Exploring the Innovative Alternate Lending Models
    • Role of AI and ML in enhancing the customer experience and strengthening risk management practices
    • Release of white paper on Frontiers of Digital Finance in partnership with PwC at the conference on 7 March 2018
    • Fireside chats with leading banking CEO/CXO.

    About Biz2Credit

    Founded in 2007, Biz2Credit has arranged more than $2 billion in small business financing and was named to Crain's New York's Fast 50 and the top 150 of fast-growing companies on Deloitte's 2016 Technology Fast 500. Biz2Credit is expanding its industry-leading technology in custom digital platform solutions for leading banks and other financial institutions, investors and service providers in the US and abroad.

    For more information, log on to www.frontiersofdigitalfinance.com 

    Resources


    0 0

    Business Wire IndiaIn a first of its kind program, Intuit has committed to sponsor the education of a girl child for every female employee who joins Intuit India. In addition to the school fees, the young girls will also have access to life skills training and extracurricular interests that will help their all-round development. Through this endeavor, Intuit is aiming to empower the future of 200 young girls over the next 2 years.
     
    Today, the female Literacy Rate in India is at 54% with over 47% girls married before the legal age of 18. High cost of private education, need to work to support their families and little interest in studies are the reasons given by three in every four dropouts. On the other hand, deep-rooted gender norms prevent households from sending girls to school with the belief that girl’s earnings will only benefit her marital family. The Intuit RISE – ‘Educating a Girl Child’ project aims at sponsoring education of a girl child in rural areas to help fight these norms. The program will not only increase access to quality education, but also help girl children in improving their performance through after school support and life skill support.
     
    In a partnership with the NGO Concern India, Intuit India kicked off the Intuit RISE ‘Educating a Girl Child’ project recently by inviting the first batch of 15 girl children to their campus. The day long program saw an exclusive session on beating exam stress conducted by Prof. Rakesh. The children received valuable inputs on coping with exam pressure, and also got a chance to experience the facility at Intuit office and were involved in team building activities. The new women joiners got a chance to participate in the program and meet the kids whose education has been sponsored.
     
    Speaking on the success of the kick-off event, Vijay Anand, Senior Vice President and Head – Intuit Global Development Centers said, “While we focus on hiring the top tech women talent at Intuit India, the other end of the spectrum shows us the gloomy picture of female literacy in India. This inspired Intuit RISE, to take a few steps and make a meaningful difference in any way we can and, because we can”
     
    Through this Initiative Intuit is looking to empower prosperity in the world as this program is not only limited to their customers and employees but is open for all. “Next generation of India has opportunities and by helping these children, we will be able to grow the pool of talent. That’s why Intuit is investing in the girl child education project because we want to help girls in India, early on, have the same opportunities that we had”, Vijay added.
     
    Intuit is committed to powering prosperity around the world for not just their customers and employees but to all members of society. Diversity and Inclusion is a part of the companies DNA and they are focused on creating an environment that encourages everyone to grow. Intuit recognizes the passion which drives these young girls to be change makers and fuels this through initiatives like Intuit RISE.
     
    Intuit India's CSR initiative Intuit RISE is aimed at empowering the society through various initiatives focused on women, youth and environment. The charter for Intuit RISE program is Educate, Enable & Empower.
    About Intuit India

    Intuit is the maker of QuickBooks, the world's No.1 online accounting solution for small businesses. Launched in India in 2012, Intuit QuickBooks has been helping small businesses in the country prosper by making more money, eliminating work and being more confident in financial decisions. Intuit India, the company's first venture in Asia Pacific, commenced operations in 2005 and currently has more than 1,000 employees. Intuit stands on the core principles of customer-driven innovation and powering prosperity through its ecosystem of innovative financial management solutions. Intuit is an employer of choice having appeared on the Great Place to Work Institute and Economic Times 'India's Best Companies to Work For' for the past eight years and ranking No.1 in 2017.

    For more information, visit: https://quickbooks.intuit.com/in/

    About Intuit Inc.

    Intuit’s mission is to Power Prosperity Around the World. Its global products and platforms, including TurboTax, QuickBooks, Mint and Turbo, are designed to empower consumers, self-employed, and small businesses to improve their financial lives, finding them more money with the least amount of work, while giving them complete confidence in their actions and decisions. Intuit’s innovative ecosystem of financial management solutions serves partners and 46 million customers worldwide, unleashing the power of many for the prosperity of one. For the latest news and in-depth information about Intuit and its brands, visit Intuit.com  and follow on Facebook.

    0 0

    Business Wire IndiaOn the occasion of Women’s Day 2018, Avanse Financial Services (Avanse), one of India’s leading education finance company announces the launch of an exclusive education loan offer for girl students aspiring to pursue higher education and build a strong future. The benefits include 12-year term as against the available 10-year term, 25% discount on processing fee and a 1% reduction on Rate of Interest. The offer starts from March 8, 2018 and concludes on March 31, 2018. 
     
    Commenting on this initiative, Amit Gainda, CEO, Avanse Financial Services said, “To commemorate Women’s Day, Avanse is glad to dedicate March 2018 towards fulfilling higher education aspirations of girl students. This offer includes discounts on processing fees, subsidized interest rates and longer repayment tenure and reinforces Avanse’s objective of making quality education affordable to deserving students.”

    Avanse has always been committed towards making higher education accessible to girl students through attractive education financing products & services. Commenting on the purpose, Amit Gainda added, “We, at Avanse strongly believe that educated women lead to empowered families, stronger societies, a knowledgeable economy and ultimately, a prosperous nation. With active support from the government and society, the past few years have witnessed a significant increase in girls opting for higher education. Avanse’s exclusive benefits for women aim to empower academically inclined girls across India to pursue education in their preferred field in India or abroad.”

    Avanse has been at the forefront of creating great value for students by offering features including 100% funding, funding beyond tuition fees (covering visa, travel and stay expenses), instant sanctions for select programs and universities and loans without any limit. The brand has also broken conventions and funded unconventional programs including fine arts, music and vocational programs. Aiming to emerge as a leader in Education Financing and Educational Infrastructure Financing, Avanse is expanding its reach across the country and seeks to fund a wider range of educational programs.
    About Avanse Financial Services

    Avanse is India’s fastest growing education finance company that lends to students and to educational institutions. Avanse Financial Services Limited is the NBFC arm of Wadhawan Global Capital Pvt. Ltd. (WGC), and an associate company of DHFL, one of India’s leading housing finance companies. Avanse is backed by the World Bank through the International Finance Corporation (IFC), which holds a 20% stake in the company.
     
    Avanse Financial Services Limited is one of India’s fastest growing education finance company committed to facilitating and fulfilling academic dreams of talented young students. With its new age, flexible and tailored financial solutions, Avanse addresses higher education needs of the Indian youth enabling them to ‘Aspire without Boundaries’. With a workforce strength of over 200 employees across India, Avanse has funded over 10,000 students across 6000 courses in 1900 institutes across India and over 45 countries. Its Education Institution Loan business has funded over 130 institutions covering over 3 lakh students.
     
    Avanse is led by Mr. Amit Gainda, an accomplished leader with over two decades of experience in the banking and financial services industry. Led by his strategic guidance and supported by an able team, Avanse is well poised to further strengthen its position in the education finance segment.
     
    To know more about the company, visit: http://www.avanse.com/

    0 0

    Business Wire India

    International law firm Dorsey & Whitney LLP announced today that it was named a winner in the category of “Banking & Finance” in the China Business Law Awards 2017-2018, published by the China Business Law Journal. The awards are based on nominations and comments received by the China Business Law Journal from China-focused corporate counsel, senior managers and legal professionals around the world, along with an evaluation of the winning firms’ landmark deals, cases and other notable achievements.

     

    This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180306006271/en/

     
    Dorsey & Whitney LLP was named a winner in the category of "Banking & Finance" in the China Business ...

    Dorsey & Whitney LLP was named a winner in the category of "Banking & Finance" in the China Business Law Awards 2017-2018. (Photo: Business Wire)

    Dorsey’s Banking Industry Group consists of over 250 attorneys serving banks around the world, including several leading Chinese financial institutions. “We are deeply honored to be recognized for serving our Chinese clients, particularly the large Chinese banks and other Chinese financial institutions, as this is a major focus for Dorsey,” said Lanier Saperstein, a New York-based Partner who is co-head of the Firm’s U.S.–China Practice Group. “We are proud that so many prominent Chinese banks and other Chinese financial institutions look to Dorsey for counsel from our lawyers in both China and the U.S. As they do an increasing amount of business in the U.S., we are well positioned to serve them, as this award attests.”

     

    Peter Corne, head of the Firm’s Shanghai office, added, “Dorsey serves a wide range of industries in China, and to be recognized in the competitive category of Banking & Finance is very gratifying.”

     

    Dorsey has received many accolades for its China practice, including a past China Business Law Award in the category of “Insurance & Reinsurance” and a China Business Law Journal Deal of the Year award.

     

    About Dorsey & Whitney LLP

     

    Clients have relied on Dorsey since 1912 as a valued business partner. With locations across the United States and in Canada, Europe and the Asia-Pacific region, Dorsey provides an integrated, proactive approach to its clients' legal and business needs. Dorsey represents a number of the world's most successful companies from a wide range of industries, including leaders in the banking, energy, food and agribusiness, health care, mining and natural resources, and public-private project development sectors, as well as major non-profit and government entities.

     

     

     

     
    MULTIMEDIA AVAILABLE :
    http://www.businesswire.com/news/home/20180306006271/en/

    0 0

    Business Wire India

    BOARD recorded total worldwide revenues of CHF 72,8 million (USD 78,8 million), an increase of more than 46% from its worldwide revenues of CHF 50,0 million (USD 54,1 million) in 2016.

     

    These results show that our continued efforts to bring groundbreaking innovation to the world’s Enterprise Performance Management, Business Intelligence and Advanced Analytics software market have been a success,” said BOARD Co-Founder and CEO, Giovanni Grossi.

     

    Thanks to the Best-in-Class capabilities of BOARD Cloud, the SaaS version of the company’s original on-premise platform, BOARD International has continued its penetration into the Cloud-based EPM and BI global market, resulting in an overall increase of 231% year on year for Cloud licenses.

     

    BOARD also reported 47% growth in its in-house professional services activities for enterprise projects. “BOARD International is increasingly proving itself to be a world-class Centre of Excellence for decision-making processes,” continued Mr. Grossi, “thanks to the combination of outstanding technology with the highest expertise in analysis, planning and simulation.”

     

    During 2017, the BOARD Platform was chosen by leading organizations such as AstraZeneca, Coca-Cola European Partners, Delta Airlines, Kohl’s Department Stores, Lego, Médicins Sans Frontières, Renault, Toyota and Virgin Money. These key players – together with many of BOARD’s other leading customers – are further confirmation of BOARD’s capability to address a wide range of planning and analysis needs across different industries.

     

    About BOARD International:

     

    BOARD is the #1 decision-making platform for organizations of any size. Founded in 1994, BOARD International has enabled more than 3000 companies worldwide to rapidly deploy Business Intelligence, Corporate Performance Management and Predictive Analytics applications on a single unified and programming-free platform. Thanks to its programming-free toolkit approach, global enterprises such as H&M, KPMG, DHL, Mitsubishi, NEC, Puma, Rolls-Royce, Siemens, Toyota have rapidly deployed end-to end decision-making applications in a fraction of the time and cost associated with traditional solutions. Headquartered in Chiasso, Switzerland, and Boston, MA, BOARD International has 21 offices around the world and a global reseller network. BOARD has been implemented in over 100 countries. www.board.com

     

     

     

     

    0 0

    Business Wire India

    Kyriba, the #1 global provider of cloud treasury and financial management solutions, and BlackRock, Inc. (NYSE: BLK), a global leader in investment management, risk management and advisory services, announce a strategic partnership that will leverage both firms’ technologies to simplify their clients’ cash management processes.

     

    This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180306005732/en/

     

    The partnership means faster and smarter execution of cash investments for CFOs and corporate treasurers. Kyriba’s technology provides its users with the real-time visibility and reporting they need to understand their portfolio and global cash positions. Clients can then seamlessly allocate cash to a variety of money market funds through BlackRock’s integrated trading platform.

     

    “At BlackRock we are committed to leveraging technology to deliver better performance for our clients. This partnership is a natural next step in that strategy, leveraging technology enabled by Cachematrix, which we acquired last summer,” said Thomas Callahan, Global Head of Cash Management at BlackRock. “With Kyriba’s leading financial management solutions aligned to BlackRock’s portfolio of investment options, we will simplify the investing process for our clients and broaden the distribution of our cash funds.”

     

    Kyriba’s innovative cash management solutions gives its clients clear visibility into their cash positions worldwide and enables greater confidence for CFOs and treasurers in their cash flow performance. Kyriba delivers the structure and control to access and mobilize intercompany cash balances toward investments that propel growth.

     

    “Proper liquidity management optimization is now critical for modern CFOs who are looking to achieve aggressive performance goals in a highly volatile global market,” said Jean-Luc Robert, Chairman and CEO at Kyriba. “Our partnership with Blackrock, one of the largest and most respected asset management firms in the world, empowers senior finance executives to be more agile and efficient than ever before in executing the right investment decisions to drive growth. We look forward to delivering this joint solution to the market.”

     

    “Kyriba’s partner ecosystem brings together leading solutions all on one platform in order to drive value for our clients,” said Karthik Manimozhi, EVP Worldwide Alliances and Channel Sales at Kyriba. “Our partnership with BlackRock provides a modern liquidity performance platform that enables our clients to see and then invest their cash.”

     

    To learn more about Kyriba, visit www.kyriba.com.

     

    About Kyriba Corp.

     

    Kyriba is the #1 provider of cloud treasury and financial management solutions. Kyriba empowers financial leaders and their teams with award-winning solutions for cash and risk management, payments and supply chain finance. Kyriba delivers a highly secure, 100% SaaS enterprise platform, superior bank connectivity and a seamlessly integrated solution set for tackling today’s most complex financial challenges. More than 1,800 companies, including many of the world’s largest organizations, rely on Kyriba to streamline key processes, protect against loss from fraud and cybercrime, and accelerate growth opportunities through improved decision support. Kyriba is headquartered in New York, with offices in San Diego, Paris, London, Tokyo, Dubai and other major locations. For more information, visit www.kyriba.com.

     

    About BlackRock

     

    BlackRock helps investors build better financial futures. As a fiduciary to our clients, we provide the investment and technology solutions they need when planning for their most important goals. As of December 31, 2017, the firm managed approximately $6.288 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit www.blackrock.com | Twitter: @blackrock | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com/company/blackrock.

     

     

     

     

     

     
    MULTIMEDIA AVAILABLE :
    http://www.businesswire.com/news/home/20180306005732/en/

    0 0

    Business Wire India

    Citigroup Inc. is announcing the redemption, in whole, constituting SGD 100,000,000 of its 3.50% Fixed Rate / Floating Rate Subordinated Notes due April 2020 (the “2020 notes”) (ISIN XS0216282557), and the redemption, in whole, constituting CHF 182,115,000 in aggregate principal amount, of its 2.75% Fixed / Floating Rate Callable Subordinated Notes due April 2021 (the “2021 notes” and together with the 2020 notes, the “notes”) (ISIN: CH0024683192).

     

    The redemption date for the 2020 notes is April 9, 2018 (the “2020 notes redemption date”), and the redemption date for the 2021 notes is April 6, 2018 (the “2021 notes redemption date” and together with the 2020 notes redemption date, the “redemption dates”). The cash redemption price payable for the 2020 notes on the 2020 notes redemption date will equal par plus approximately SGD 1,200,000 in accrued and unpaid interest, and the cash redemption price payable for the 2021 notes on the 2021 notes redemption date will equal par plus approximately CHF 206,736.95 in accrued and unpaid interest.

     

    The redemptions announced today are consistent with Citigroup's liability management strategy, and reflects its ongoing efforts to enhance the efficiency of its funding and capital structure. Since 2015, Citigroup redeemed or retired $28.7 billion of its securities, reducing Citigroup’s overall funding costs. Citigroup will continue to consider opportunities to redeem or repurchase securities, based on several factors, including without limitation, the economic value, regulatory changes, potential impact on Citigroup's net interest margin and borrowing costs, the overall remaining tenor of Citigroup's debt portfolio, capital impact, as well as overall market conditions.

     

    Citigroup's Basel III Tier 2 Capital will not be materially affected by the planned redemptions.

     

    Beginning on the redemption dates, the notes will no longer be outstanding and interest will no longer accrue on such securities.

     

    Citibank, N.A. is the paying agent for the 2020 notes. For further information on the 2020 notes, please see the related final terms at the following web address: http://www.citigroup.com/citi/fixedincome/data/docs/350due040820mtn.pdf

     

    Credit Suisse is the paying agent on the 2021 notes. For further information on the 2021 notes, please see the related final terms at the following web address: http://www.citigroup.com/citi/fixedincome/data/docs/275due040621mtn.pdf

     

    Citi

     

    Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

     

    Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

     

     

     

     

    0 0

    Business Wire IndiaCommonFloor, a leading online real estate platform for home buyers, sellers and real estate professionals will connect builders and consumers with virtual shopping festival starting from 7th March 2018. As part of the month-long festival, builders will get to showcase their properties to buyers who in turn can shortlist their dream home without having to leave the comfort of their premises before making the purchase decision or visiting the property.

    Buyers will be able to visit virtual stalls of builders, browse through virtual brochures and chat/talk with the builders. The immersive 3D experience will help consumers browse through the virtual expo in an intuitive manner and they will no longer feel the need to go to offline expo for browsing through projects and talking. The online home festival is sponsored by the trusted and reliable brands like Salarpuria Sattva in Hyderabad and Bangalore and Navins in Chennai. Partnership with HDFC for home loans will allow buyers and corporate consumers to complete the entire transaction under one roof.
     
    More than 50 projects across cities like Bangalore, Chennai, Hyderabad, Delhi and Pune will be available virtually for buyers to look for. Apart from first few bookings receiving gold coins, builders are offering several exciting offers for home buyers. From flat Rs.200/ sq foot discount rates, no pre-EMI till possession and free modular kitchen upon booking, builders are rolling offers to convert online shoppers into home buyers.

    You can visit the festival on www.cohf.in
    About CommonFloor

    CommonFloor is a Quikr company that offers home seekers, sellers and real estate professionals an extensive online real estate ecosystem. This ecosystem innovatively combines at a single stop: Exhaustive search options for both renting and buying property; Easy to use analytics; Apartment and locality reviews; a comprehensive and verified data base of apartments across India; Apartment community management tools. 

    Visit www.commonfloor.com for more details.

    0 0

    Business Wire IndiaWith women becoming significant contributors in the Indian growth story, it has become extremely important for them to become financially secure. Their financial independence and management is of utmost importance because of the risks associated with changing economies, loss of job and financial crunch.

    With different investment options open, it becomes easy for women to choose the plans that suit her requirements. These investments include real-estate, mutual funds, equity shares, and so on and so forth. While most of these depend heavily on stock market and are exposed to fluctuations, fixed deposits are one of the safest investment options that offer assured profits.

    Bajaj Finserv, through its lending and investment arm Bajaj Finance Ltd. is offering 8.20 percent rate of interest on fixed deposits for women senior citizens for the tenure of 60 months on this Women’s Day. The company is also offering an interest rate of 8.10 percent to its existing female customers on cumulative FD for the same tenure.

    For a fixed deposit ranging from one to five years, the company will offer an additional interest of 0.35% to all its patrons who are senior citizens. The existing female customers will receive an additional 0.25% on renewal of FDs.

    While an existing investor will earn an interest of 8.35% upon renewal of FD, the senior citizens will earn an interest rate of 8.45%. These rates are applicable on a tenure of 60 months and the amount can be as low as Rs. 25,000.

    With ‘FAAA/Stable’ rating by CRISIL and ‘MAAA (Stable)’ rating by IRCA, the company has been deemed with the highest degree of safety with regard to timely payment of interest and principal on the instrument.

    Benefits of Fixed Deposits for Women

    Stable returns
    With a fixed deposit, the investor can hope for a fixed interest on the investment, with absolutely no effect of any market fluctuations.

    Highly beneficial for women
    With additional percentage of interest, women end up gaining more on the fixed deposits.

    No Volatility
    Fixed Deposits are bound by a pre-decided rate of interest. The investor ends up earning the amount, no matter how the stock market performs. This makes FDs one of the safest investment options.

    Flexible Pay-out Options
    Fixed deposits offer flexible pay out options in the way of cumulative and non-cumulative interest. This enables the investors to meet their short-term and long-term requirements.

    Higher interest rates
    It is always beneficial to save money in an FD as compared to the savings account because of higher rates of interest in fixed deposits. 

    0 0

    Business Wire India

    Oasis shareholder proposals aim to improve Katakura’s corporate governance and realize sustainable growth for all stakeholders

    More information available at www.abetterkat.com

    Oasis Management Company Ltd. (“Oasis”) is the manager to funds that beneficially own 7.92% of Katakura Industries Co. Ltd. (3001 JT) (“Katakura” or the “Company”), making Oasis the largest single shareholder of the Company. Oasis has adopted the Japan FSA’s “Principles of Responsible Ownership” (a/k/a Japan Stewardship Code) and in line with those principles, Oasis monitors and engages with its investee companies.

     

    Since Oasis’s first meeting with Katakura, on February 24, 2015, Oasis has continued to strive for a constructive dialogue with the Company. Oasis has been extremely patient and has gone to great lengths at its own expense, both financially and in terms of the time involved, in order to provide suggestions or help to improve Katakura. This has included sending letters and making presentations to Katakura’s management in an attempt to assist in creating medium- to long-term corporate value.

     

    At the 2017 AGM, Oasis submitted shareholder proposals for the purpose of focusing Katakura’s management on adopting Return on Equity as a performance metric for its divisions, restructuring loss-making and underperforming businesses, and improving capital allocation. Following these proposals, Katakura finally initiated a dialogue with us, but unfortunately Katakura saw the dialogue as an end in itself with no intention to make it constructive. According to METI’s Guidance for Integrated Corporate Disclosure and Company-Investor Dialogue for Collaborative Value Creation, “It is essential to avoid treating disclosure and dialogue, which are means to an end, as ends in themselves, and to maintain a focus on how companies can achieve sustainable value creation and how companies and investors can cooperate with each other to achieve the goal.”1

     

    Katakura has failed woefully in this regard.

     

    Oasis’s latest attempt to help Katakura was to ask for the nomination of two independent directors that are experts in two of Katakura’s core businesses, Real Estate and Textiles, or at the very least appoint them as consultants. Both of these candidates are experts in their fields and could, without doubt, provide valuable advice to Katakura. In addition, Oasis also recommended that Katakura appoint an independent third-party to undertake a strategic and operational review of the business. Both of these requests would be highly positive for Katakura, but were flatly refused by the Company.

     

    Katakura’s uninspired five year plan entitled “Katakura 2021”, having had to already revise down forecasts for Fiscal Year 2017, and its disinterest in having a constructive dialogue with shareholders, have impelled Oasis to submit additional shareholder proposals for the upcoming Annual General Meeting to be held in March 2018.

     

    Katakura remains deeply undervalued with significant potential

     

    Katakura has substantial undervalued assets that the market has failed to realize. Katakura is too often seen as a silk and pharmaceutical company, but investors miss that almost all of its operating income is derived from its vast real estate assets, which are not fully valued on its balance sheet. Katakura is in an enviable position of having significant assets to utilize and invest in growing businesses; however, to date it invests heavily in immaterial businesses and continues to invest in businesses in which it has failed.

     

    In February 2017, Katakura released its “Katakura 2021” five-year management plan. The plan was disappointing, although there were a few positives, including the plan to enact and complete structural reforms, including the downsizing or exit from unprofitable businesses by the end of Fiscal Year 2018. Nevertheless, Katakura’s plans for its existing businesses leave much to be desired, but this does not need to be the case. Katakura should take the opportunity before it’s too late.

     

    Katakura is trading at 0.86x price to book ratio, however, this excludes the value of Katakura’s large land holdings. In its annual report, Katakura provides a conservative market valuation of the real estate that has been developed and is operational. In FY2017, Katakura reported this to be ¥121.3 billion compared to its book value of ¥35.3 billion. Including these unrealized gains net of tax to equity reveals that Katakura is trading at just 0.42x book (excluding minorities). This is very conservative for the following reasons:

     

    i. Many valuations for the notes to the financial statements are made on a conservative basis; and
    ii. This only includes the value of the developed land and Katakura owns significant undeveloped real estate.

     

    If management focuses their attention on developing and selling more of its owned land, then we value Katakura at 0.8x adjusted book, an upside of 90%.

     

    Oasis shareholder proposals

     

    Oasis has submitted the following six agenda items to Katakura for a general shareholders meeting for the fiscal year ended December 2017 in order to realize sustainable growth through governance restructuring. The full statement of Oasis’s shareholder proposals and further details about the campaign can be found on our campaign website: www.abetterkat.com

     

    We believe that all shareholders and stewards of capital should review these proposals closely. We believe they are all consistent with the Corporate Governance Code and the Stewardship Code, and Oasis encourages all shareholders to vote in favor of the proposals.

     
    • Agenda Item (1) – Removal of Director.
    • Agenda Item (2) – Partial Amendment of Articles of Association (increase number of directors from 10 to 12).
    • Agenda Item (3) – Appointment of One Director (Mr. Akira Harata – a famed commercial and retail facility developer and operator).
    • Agenda Item (4) – Appointment of One Director (Mr. Etsuro Nakanishi – former representative director of Descente Ltd and expert in growing apparel sales overseas).
    • Agenda Item (5) – Appropriation of dividend (calling for ¥127 per share compared to historical ¥10 per share).
    • Agenda Item (6) – Partial Amendment of Articles of Association (a. ROE Orientated Corporate Management; b. Withdrawal from Low ROE Businesses; c. Restriction on Entering Businesses without High ROE Prospects).

    Oasis’s Response to Katakura’s Announcement on March 6, 2018

     

    Following the submission of the Oasis shareholder proposals to Katakura, the Company announced on March 6, 2018 the resignation of Chairman Akio Takeuchi and Senior Managing Director Atsushi Tanaka from the Board of Directors. We hope that this is a turning point in corporate governance at Katakura; however, Takeuchi-san and Tanaka-san are just scapegoats for President Kimiya Sano, who is the main culprit for Katakura’s poor results, weak strategy, and substandard corporate governance, and should be held liable for this litany of failures. We continue to recommend that shareholders vote against President Sano’s reappointment when they vote their proxies in the upcoming weeks.

     

    These resignations should galvanize shareholders to push for more extensive change, and vote for the Oasis shareholder proposals discussed above.

     

    ***

     

    For all inquiries, please contact Taylor Hall at thall@hk.oasiscm.com.

     

    Oasis Management Company Ltd. manages private investment funds focused on opportunities in a wide array of asset classes across countries and sectors.Oasis was founded in 2002 by Seth H. Fischer, who leads the firm as its Chief Investment Officer. More information about Oasis is available at https://oasiscm.com.

     

    1http://www.meti.go.jp/english/press/2017/pdf/0529_004b.pdf

     

     

    0 0

    Business Wire IndiaBajaj Finance Ltd, the lending arm of Bajaj Finserv is offering personal loans at reduced interest rates of 12.99 percent for a loan amount above Rs.10 lacs.

    Customers availing loan amount of Rs. 8 lakh to Rs. 11.99 lakh will enjoy a lower interest rate of 13.49%. These special interest rates can be availed between 9th to 13th March 2018.

    Applying for a personal loan with Bajaj Finserv is a seamless and convenient process wherein the applicants can log on to company’s website to check the eligibility and fill in the application. Personal loans by Bajaj Finserv offers benefits like minimal documentation, instant approval and rapid disbursal. Consumers can utilize the loan amount to plan a holiday trip this summer or pay for emergency expenses or meet monetary deadlines.

    Benefits of Bajaj Finserv personal loan
     
    Higher loan amount
    Whether it is an unforeseen medical expenditure or funding child’s higher education, Bajaj Finserv Personal Loan gives an access to funds up to Rs.25 lakh. There is absolutely no restriction on how the amount is used
     
    Flexible tenure
    To ensure that the loan doesn’t become a financial burden, Bajaj Finserv offers a flexible tenure that ranges from 24 months to 60 months. Depending on the repayment ability, applicant can pick a tenure that is best suited
     
    Pre-approved offers
    If you’re an existing customer with Bajaj Finserv, getting access to a personal loan is even easier. The loan will be available to you on a pre-approved basis.
     
    Minimal documentation
    An Indian citizen in the age bracket of 25 to 55 years can apply for Bajaj Finserv Personal Loan with great ease. A handful of documents including bank details, KYC documents and proof of employment to apply for the loan. The minimal documentation speeds up the application process further.
    About Bajaj Finance Ltd.
     
    Bajaj Finance Limited, the lending and investment arm of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 19 million customers across the country. Headquartered in Pune, the company’s product offering includes Consumer Durable Loans, Lifestyle Finance, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Home loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Construction Equipment Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits and Advisory Services. Bajaj Finance Limited prides itself for holding the highest credit rating of FAAA/Stable for any NBFC in the country today.
     
    To know more, please visit https://www.bajajfinserv.in/finance/

    0 0

    Business Wire India

    QNB Group intends to recommend to the Extraordinary General Assembly of the Bank, to approve increasing the percentage of non-Qatari ownership in the Company’s capital to 49% instead of 25% in accordance with the applicable provisions of Law No. 9 of 2014 regulating the Investment of Non-Qatari Capital in the Economic Activity and subject to approval of the concerned regulators.

     

    This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180312005438/en/

     
    QNB Group Head office in Doha, Qatar (Photo: AETOSWire)

    QNB Group Head office in Doha, Qatar (Photo: AETOSWire)

    An Extraordinary General Assembly will be convened to present and approve the proposed amendment to QNB’s Articles’ of Association by adding an agenda item in respect of the above after securing the appropriate regulatory approvals of the proposed amendment.

     

    QNB Group will disclose the date and venue of the Extraordinary General Assembly in due course.

     

    QNB Group’s presence through its subsidiaries and associate companies extends to more than 31 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees exceeds 28,200 operating through more than 1,230 locations, with an ATM network of more than 4,300 machines.

     

    *Source: AETOSWire

     

     
    MULTIMEDIA AVAILABLE :
    http://www.businesswire.com/news/home/20180312005438/en/

    0 0

    Business Wire India

    MetLife, today launched “collab 3.0 EMEA,” a global open innovation platform inviting entrepreneurs and insurtechs to scale their business with MetLife, while solving some of the insurer’s biggest innovation challenges across its business in Europe, the Middle East and Africa.

     

    This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180312005446/en/

     

    The company is inviting insurtech startups to compete for a USD 100,000 contract to develop solutions across insurance value chains in areas such as customer engagement, sales, and operations, and to pilot these solutions with MetLife EMEA.

     

    Created by LumenLab, MetLife Asia’s innovation center, collab 3.0 EMEA follows two successful collab programmes in Singapore (2016) and Japan (2017), which attracted 250 applications from insurtechs in more than 35 different countries.

     

    “We are serious about transforming the insurance industry and the way we interact with our customers – but we know we cannot do it alone. You can never innovate faster than the market. We are building a stronger ecosystem for the future by engaging insurtechs through programmes like collab,” said Zia Zaman, LumenLab’s chief executive officer and chief innovation officer of MetLife Asia.

     

    Following a rigorous selection process, MetLife will determine eight finalists and pair them with MetLife EMEA employee champions to help develop their solutions.

     

    To date, MetLife has awarded more than half a million U.S. dollars’ worth of contracts through collab in Asia. These business contracts have gone into developing practical solutions that are delivering value to MetLife’s business and customer experience.

     

    “MetLife continues to be at the forefront of innovation and collab 3.0 EMEA is a great example of this. We are matching real business challenges from across our global enterprise with external ideas to build the best solutions for our business and customers. Crucially, our employee champions will support and collaborate with the finalists throughout the process,” said Michel Khalaf, President of MetLife’s EMEA and U.S. Regions.

     

    Finalists will be invited to attend the collab Summit EMEA and Demo Day in London on 11-12 July, 2018 to present their solutions where the ultimate winner will be announced.

     

    Applications opened via the collab website today and will close on 20 April, 2018. To learn more and apply for collab 3.0 EMEA, please visit: collab.lumenlab.sg.

     

    About MetLife

     

    MetLife, Inc. (NYSE:MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com

     

    About LumenLab

     

    As MetLife’s pioneers for disruptive innovation, LumenLab is charging ahead to create new businesses in health, wealth and retirement. Lumen, a measure of light, symbolizes our commitment to illuminating a new path for solving the problems that the people of Asia face today. Through our focus on building new products and services grounded in technology and data, we aim to help people achieve richer and more fulfilling lives. For more information, visit www.lumenlab.sg

     

     

     

     

     

     
    MULTIMEDIA AVAILABLE :
    http://www.businesswire.com/news/home/20180312005446/en/

    0 0

    Business Wire India

    Oasis Management Company Ltd. (“Oasis”) is the largest minority shareholder of Alpine Electronics (“Alpine” or “the Company”), owning a 9.7% position in Alpine. Oasis has adopted the Japan FSA’s “Principles of Responsible Ownership” (a/k/a Japan Stewardship Code) and in line with those principles, Oasis monitors and engages with its investee companies and releases the following statement:

     

    ***

     

    On February 27, 2018, Alpine and Alps Electric Co., Ltd. (“Alps”) released two statements, the first on the structure and timing of the merger, and the second revealing their deceitful reasoning for maintaining the share ratio as is.

     

    Simply put, a bad deal for minority shareholders just got worse. Alpine’s profits continue to grow, and Alps prospects look weaker. Poor corporate governance at Alpine leads to abuse of all minority shareholders.

     

    To improve governance and end abuse of minority shareholders, Oasis will make the following proposals at Alpine’s upcoming Annual General Meeting:

     
    1. A special dividend of approximately ¥425 per share;
    2. A vote against Kojima-San – the independent director and third party committee member who has neglected his duties by, among other things, not attending the Board of Directors meeting held on February 27, 2018 to ask Alps for a higher price; and
    3. Oasis’s own slate of independent directors.


    We encourage all shareholders to get your shares into a fully paid for or custodial account by March 31 so that you can vote your shares.

     

    We encourage all shareholders to send your own letter to Alpine’s directors telling them that the abuse of minority shareholders end.A sample draft letter template is included at the end of this statementfor reference.

     

    Oasis is proceeding with requests for the books and records, minutes and materials of all board meetings, board committee meetings, and the third party committee meetings.

     

    We call on the Alpine’s management and the third-party committee to meet with us.We are the second largest shareholder of the company holding 9.7% of Alpine.

     

    ***

     

    Alps needs Alpine more than Alpine needs Alps

     

    As of today, Alpine has revised up its earnings by almost 70% since the merger was announced.

     

    In contrast, Alps forecasts have been revised up by just 16%, and Citi recently downgraded Alps. Alps is currently trading at its lowest price per share in over a year. Unfortunately for Alpine’s shareholders, the proposed merger ratio has linked Alpine’s share price to Alps. As a result, the proposed transaction values Alpine at JPY1,843 per share, a premium of under 8% from the day prior to the announcement of the merger.

     

    In the first February 27 statement, Alps and Alpine informed shareholders that the merger would be brought forward three months earlier than initially proposed, and that the name of the merged entity will change from “Alps Holding” to “Alps Alpine”. Both of these changes highlight the growing importance of Alpine to Alps’ future.

     

    Alps has suffered from the disappointing reception of Apple’s iPhone X, which has further proven that Alps cannot rely on the smartphone market. It is vital to Alps that it penetrate further into the automotive market, and for that, Alps desperately needs Alpine.

     

    It will be Alpine driving the creation of corporate value at the merged entity. Alps will benefit from Alpine’s strong growth but Alpine’s shareholders will see their corporate value diluted as Alps faces an uncertain future in the smartphone market.

     

    This is a case of Alpine saving Alps, and Alpine’s shareholders should be paid appropriately.

     

    1.Alps and Alpine can’t see the forest for the trees

     

    Alps and Alpine have been myopically focused on attempting to demonstrate that the large revision upwards in Alpine’s earnings did not necessitate Alpine requesting a higher takeover price. As justification, they point to the fact that SMBC managed to simulate scenarios in which the upwards revisions have limited impact on the DCF. This is a full misunderstanding of fairness. The revisions upward do not just affect the DCF valuation, but prove that the market price and comparable company method valuations are deeply flawed.

     

    Alps/Alpine announced the merger with the longest lead time of any Japan deal in over 18 years. At the time, we stated that we believed this was done to set a cap on the stock price, as Alpine had been trading cheaply. The two revisions upward following the announcement of the merger imply that both Alps and Alpine knew that better results were expected and wanted to announce the merger before the stock price would go up on the back of improved profitability. The two revisions upwards would have led to a sharp increase in stock price and would have forced Alps to pay a higher price for Alpine.

     

    Alpine’s revision upwards also stand in stark contrast to the comparable companies employed by SMBC in the comparable companies’ analysis. This again demonstrates that both the comparable company methodology and the DCF employing an EBITDA multiple based on comparable companies are unfair and inappropriate.

     
    • Clarion Co. Ltd (6796 JP) – As Alpine has raised its operating profit forecast by 69%, Clarion reduced its operating profit forecast by 29% for the current fiscal year, which was already set to be lower than the prior year. Clarion is going through a slow restructuring while Alpine is rapidly growing. Applying Clarion’s multiples to Alpine will deeply undervalue Alpine. Sadly for shareholders, Clarion was the competitor with the higher multiples.
    • Pioneer Corp (6773 JP) – Pioneer cut its forecast for the current year by 50%, a stark contrast to Alpine, which increased its forecast by 69% for the current year. Pioneer was also loss making in two of the prior four years, which also weighed down its valuation metrics. As with Clarion, comparing this company to Alpine deeply undervalues Alpine and hurts shareholders.
    • JVC Kenwood (6632 JP) – JVC was loss-making in the prior year which, as with Pioneer, weighed down its valuation. JVC is also underperforming its five year medium-term plan. Again, the use of JVC as comparable company, without including a premium for Alpine, is unacceptable and unfair.


    These issues highlight the obvious disdain with which Alps and Alpine treat their minority shareholders and demonstrate that measures that they claimed to have undertaken to ensure fairness were deficient at the very least. We welcome recent quotes in the press that Toshihiro Kuriyama, the president of Alps, expressed willingness to meet with Oasis, but are perplexed that Alpine’s president, Nobuhiko Komeya, has remained silent. Clearly Alps has full control of Alpine and little care for Alpine’s minority shareholders.

     

    We also raise the suspicion that Alps and Alpine did not only treat minority shareholders unfairly, but also potentially acted fraudulently. The revisions upwards after the takeover are too convenient, and there is a distinct possibility that Alpine delayed any revisions upwards to ensure that Alps could pay a lower price.

     

    We recommend that shareholders read our releases on www.protectalpine.com for further details on how Alps and Alpine skewed the valuations in order to achieve an unfairly deeply discounted price, including Alpine’s arbitrary decision to include ¥30 billion in operating cash and therefore taking ¥400 yen per share from minority shareholders and to give to Alps for free.

     

    2.Obfuscation, obfuscation and more obfuscation

     

    In their justification of not renegotiating the share exchange ratio, Alpine made the following statements, which were clearly designed to obfuscate and mislead shareholders:

     

    “In the Analysis, SMBC Nikko used the most recent financial forecasts as underlying conditions and conducted simulations using the DCF analysis on the basis of reasonably expected assumptions.1

     

    Alpine could not be more opaque. It appears that SMBC tried as many simulations as possible using any assumptions they decided were reasonable to justify the price. We believe that it is clear that SMBC were told to justify the current ratio by any means.

     

    “Specifically, SMBC Nikko assumed various cases, including the case in which the capital cost, which is a condition underlying the calculation by DCF analysis, is replaced with the most recent figure, and the case in which the most recent financial forecasts of the Company are further revised upward by a certain degree.”2

     

    This raises a myriad of questions, including:

     

    1. How many various cases did they try?
    2. What were the assumptions in these cases?
    3. Were the cases biased towards a lower price?
    4. What capital cost had they been using before?
    5. What capital cost number did they use this time?
    6. How much is a “certain degree”?
    7. Has Alpine understated its financials in order to avoid revising upwards further?

     

    “…but the medium to long term automobile sales forecasts will remain uncertain based on the documents and other materials showing the analysis concerning the automobile sales forecasts as provided by a research company.3

     

    Alpine kept the source of their sales forecasts suspiciously vague considering that they were happy to reveal that LMC Automotive was the source for the forecasts in their medium term plan. This raises the likely possibility that Alpine sought out the lowest forecasts it could to justify accepting the lowest price it could.

     

    3.Shareholder proposals and calling for independent directors

     

    Oasis plans to submit the following shareholder proposals for Alpine’s upcoming Annual General Meeting:

     

    I.Special Dividend

     

    Oasis will propose that Alpine distribute ¥29.7 billion as a special dividend to all shareholders. This is the maximum special dividend that Alpine can pay at this point for technical accounting reasons. This will amount to approximately ¥425 per share. Minority shareholders deserve more than this, but this will help move towards a fairer price for shareholders. This also corresponds to the ¥30 billion of cash that Alpine has arbitrarily taken away from shareholders by dishonestly claiming it is operating cash.

     

    Voting for the special dividend will bring at least some justice for minority shareholders.

     

    II.Vote against the re-election of Hideo Kojima

     

    Oasis will propose that shareholders vote against the re-election of Hideo Kojima. Mr. Kojima is a member of Alpine’s Audit and Supervisory Committee and an outside director for Alpine. He is also a member of the Third-party Committee that rubber stamped Alps’ takeover of Alpine at a large discount to its intrinsic value. We find it peculiar and disheartening that Mr. Kojima did not even bother to attend the board of directors meeting that decided not to ask Alps for a higher price:

     

    “Also, Mr. Hideo Kojima, who serves as both a director and a member of the Audit and Supervisory Committee, was absent from the board of directors meeting of the Company held today for the need of attention to business operations, it has been confirmed separately that Mr. Kojima approves that the Company will not request a revision of the Share Exchange Ratio.”

     

    Mr. Kojima failed to protect minority shareholder rights. As such, shareholders should ensure that he is not re-elected.

     

    III.Vote against majority of Alpine’s board and for a majority of truly independent directors

     

    Alpine’s directors are all up for re-election at Alpine’s next Annual General Meeting. Oasis will propose a new slate of 11 independent directors that will seek the fair treatment of minority shareholders. Once elected, these directors will have the power to compel Alpine to renegotiate a higher price with Alps.

     

    We have already developed a slate of experts in the automotive field that would be willing to become independent directors for Alpine, but we would also welcome any interest from any others that would be interested in being elected to Alpine’s board.

     

    If you are interested in being nominated to Alpine’s board please contact us at Legal@protectalpine.com.

     

    We continue our engagement to protect Alpine.

     

    ______________________
    1http://www.alpine.com/e/investor/library/pdf/kessai/ja/2017j_en.pdf
    2Ibid.
    3Ibid.

     

    ***

     

    Shareholders are encouraged to visit www.ProtectAlpine.com to sign up for updates and learn how you can help. Shareholders may also contact us at protectalpine@oasiscm.com, or contact our Japanese legal counsel at Legal@protectalpine.com.

     

    For media and all other inquiries, please contact thall@hk.oasiscm.com.

     

    Oasis Management Company Ltd. manages private investment funds focused on opportunities in a wide array of asset classes across countries and sectors. Oasis was founded in 2002 by Seth H. Fischer, who leads the firm as its Chief Investment Officer. More information about Oasis is available at https://oasiscm.com.

     

    LETTER TEMPLATE FOR SHAREHOLDERS

     

    [Date]

     

    President Nobuhiko Komeya
    Alpine Electronics Inc.

     

    Board of Directors
    Alpine Electronics Inc.
    1-7, Yukigaya-otsukamachi, Ota-Ku
    Tokyo 145-0067, Japan

     

    Dear President Komeya,

     

    We are [shareholder name], shareholders of Alpine Electronics Inc. (“Alpine” or “the Company”), and hold [###] number of shares.

     

    We believe that the current Share Exchange Ratio agreed with Alps Electric Co., Ltd. (“Alps”) greatly undervalues Alpine and is unfair to minority shareholders. We believe that Alpine is worth in excess of ¥ [ ### ]* per share. [* Oasis values the shares in excess of ¥5,000 but shareholders can put in the price you wish.]

     

    As a result, we are planning to vote AGAINST the merger at the current Share Exchange Ratio.

     

    We implore you, as management, to seek a higher, fair price for all shareholders.

     

    Yours sincerely,

     

    [Your name]

     

    Copy to: Alpine Board of Directors

     

    President
    Nobuhiko Komeya

     

    Managing Directors
    Hitoshi Kajiwara
    Naoki Mizuno
    Koichi Endo

     

    Directors
    Toshinori Kobayashi
    Shuji Taguchi
    Yasuhiro Ikeuchi
    Youji Kawarada
    Shinji Inoue
    Koji Ishibashi
    Masataka Kataoka
    Hirofumi Morioka
    Hideo Kojima
    Satoko Hasegawa
    Naoki Yanagida

     

     

    0 0

    Business Wire India

    First Data (NYSE:FDC), a global leader in commerce-enabling technology, today announced a new partnership with RBL Bank, one of India’s fastest growing private sector banks which currently services close to four million customers. Under the agreement, First Data will help RBL Bank migrate their credit card customers to its latest proprietary VisionPLUS® software providing end-to-end card processing services for the bank.

     

    “We are delighted to form this new alliance with RBL Bank. Through this partnership with First Data, RBL will be leveraging First Data’s next generation payment technology,” said Ivo Distelbrink, Executive Vice President and Head of Asia Pacific for First Data. “First Data’s focus is to help clients grow their business with best-in-class platforms, and this alliance with RBL helps deliver on that promise by enabling it to meet the dynamic customer demands of the evolving and complex Indian market.”

     

    “Over the last few years, we have rapidly scaled up our cards business. We are confident that we will be amongst the top five issuers within the next three to five years. As we target new customer segments and geographies, we are happy to partner with First Data for our credit card platform. We are now able to introduce innovative features for our clients and to scale our transactions on a secure and scalable platform. This gives us the impetus to increase our competitive edge in the market,” said Harjeet Toor, Head of the Retail, Inclusion and Rural Business for RBL Bank.

     

    In response to India’s march towards a cashless society, First Data’s commitment to continue investing and expanding its business in India is timely as the demand for robust, secure and flexible solutions for cardholders grows exponentially.

     

    In India, First Data serves top national and international banks, corporations, small and mid-sized merchants. First Data powers a significant portion of all eCommerce transactions in India through the First Data payment gateway. The company was also the first to introduce multi-payment and digital self-service channels for merchants through mobile applications.

     

    To learn more about First Data’s VisionPLUS solution, visit here.

     

    About First Data

     

    First Data (NYSE: FDC) is a global leader in commerce-enabling technology, serving approximately six million business locations and 4,000 financial institutions in more than 100 countries around the world. The company’s 22,000 owner-associates are dedicated to helping companies, from start-ups to the world’s largest corporations, conduct commerce every day by securing and processing more than 3,000 transactions per second and $2.4 trillion per year.

     

    About RBL Bank

     

    RBL Bank is one of India’s fastest growing private sector banks with an expanding presence across the country. The Bank offers specialized services under six business verticals namely: Corporate & Institutional Banking, Commercial Banking, Branch & Business Banking, Agribusiness Banking, Development Banking and Financial Inclusion, Treasury and Financial Markets Operations. It currently services over 3.98 million customers through a network of 246 branches, 188 Banking Outlets (BOs), 757 BC branches (including BOs), 100,017 Customer Service Points and 394 ATMs spread across 20 Indian states and Union Territories.

     

    Over the last few years, RBL Bank has earned recognition in various national and international forums such as : CNBC ASIA’s India Talent Management Award (2017); ‘India’s Best Bank (Growth)’ in the ‘Small-Sized Bank Segment’ by Business Today-KPMG Best Bank Study for six consecutive years (2012-17); Business World’s ‘Best Growing Small Bank’ consistently for four years (2013,2014,2015,2017) and recognized by the World Economic Forum as a ‘Global Growth Company’ (GGC). RBL Bank is listed on both NSE and BSE (RBLBANK).

     

    Further Details: www.rblbank.com

     

     

     

     

    0 0

    Business Wire India

    Andersen Global continues its expansion in Germany as a new office in Berlin opens, joining the existing Andersen Tax & Legal team in Germany, effective March 1, 2018. The Berlin office will be the sixth location of Andersen Tax & Legal in Germany and includes more than 60 professionals in the offices of Berlin, Dusseldorf, Frankfurt, Cologne, Leipzig, and Merzig.

     

    The team in Berlin is led by attorneys Philipp Zschaler and Dr. Moritz Brocker, who both were previously at BDO Legal. Moritz Brocker works in corporate law and specializes in M&A transactions and venture capital investments. Philipp Zschaler specializes in real estate and insolvency law. The focus of the Berlin team will be on the locally dynamic growth areas of corporate/ M&A, including start-ups, venture capital, and real estate.

     

    "We are looking forward to this new opportunity in our professional career," said Moritz and Philipp. "For us, it is very impressive to experience how closely the individual member firms of Andersen Global cooperate in advising their international clients. For our clients in the start-up sector, this is an important factor and generates additional added value."

     

    Stefan Kraus and Alessio Rossi, Co-Managing Partners of Andersen Tax & Legal in Germany, welcome the new colleagues in Berlin. "Philipp, Moritz, and the other members of the team are eminent experts who in their respective areas of practice have excellent contacts. This team allows us to assist our domestic and international clients in the areas of venture capital and real estate offering them best expertise.“

     

    Mark Vorsatz, Global Chairman and Andersen Tax LLC CEO, added, "Given the importance of the German economy, the continuous and strategic growth of Andersen Tax & Legal within the market is of significant importance for Andersen Global.”

     

    Andersen Global is an international association of legally separate, independent member firms comprised of tax and legal professionals around the world. Established in 2013 by U.S. member firm Andersen Tax LLC, Andersen Global now has more than 2,500 professionals worldwide and a presence in over 88 locations through its member firms and collaborating firms.

     

     

     

     

    0 0

    Business Wire India

    To meet the needs of the rapidly evolving and growing payments technology landscape in India, Verifone (NYSE: PAY), a world leader in payments and commerce solutions, and Ezetap, one of Asia’s most innovative software and payment processing players, announced a partnership to enable merchants to more quickly and easily adopt both instore and online payment acceptance.

     

    This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180312006271/en/

     
    Verifone and Ezetap Partner to Accelerate End-to-End Digital Payment Solutions for Merchants. (Photo ...

    Verifone and Ezetap Partner to Accelerate End-to-End Digital Payment Solutions for Merchants. (Photo: Business Wire)

    The scope and scale of the collaboration will bring together Verifone’s best-in-class payment solutions and services, and Ezetap’s excellence in software and payment processing, to deliver simple and secure checkout experiences for merchants and their customers in any sector.

     

    “The payments industry has undergone a global transformation in the last few years and India is on a fast track to match developed countries in terms of technology requirements and consumer demand," said Abhijit Bose, Chief Executive Officer, Ezetap. “The combination of Ezetap’s software capabilities and processing flexibility with Verifone’s range of payment solutions and services, will provide merchants with a one-stop, next-generation solution that can deliver differentiated experiences to their customers using customized software, real-time data, and value-added services."

     

    “India is quickly evolving toward a cashless economy and we look forward to working with Ezetap to support merchants through this transition by enabling them to better serve their customers whether they are paying at an online merchant, at home for deliveries, or at their favorite department store,” said Vinayak Prasad, General Manager of South Asia, Verifone. “With Ezetap’s powerful gateway to all major banks in India, Verifone will be able accept a variety of payment types that will allow consumers to shop anywhere with their debit or credit card, mobile wallet, and even with the local Bharat QR scanner and mandated Aadhar-based biometric authentication.”

     

    Further, the partnership will make it simple and convenient for businesses in India to leverage the highly secure range of Verifone payment solutions including the PCI 5.x-certified Engage solutions and Carbon family of integrated point-of-sale systems, in addition to all mobile point-of-sale solutions. Together, the companies will work to develop turn-key, end-to-end solutions that incorporate a variety of applications such as accounting, payroll, real-time inventory management, and loyalty.

     

    Visit Verifone at Money20/20 Asia in Singapore to experience all its products and solutions. Ezetap CEO and co-founder, Abhijit Bose, will be with us at booth #B30 for a fireside chat. Join us for this session on Monday, March 13 from 12:00-12:30pm.

     

    Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for VeriFone Systems, Inc.

     

    This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and on currently available competitive, financial and economic data and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the forward-looking statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of VeriFone Systems, Inc., including many factors beyond our control. These risks and uncertainties include, but are not limited to, those associated with: our ability to successfully collaborate with Ezetap to accelerate digital payment solutions, execution of our strategic plan and business initiatives and whether the expected benefits of our plan and initiatives are achieved, short product cycles and rapidly changing technologies, our ability to maintain competitive leadership position with respect to our payment solution offerings, our assumptions, judgments and estimates regarding the impact on our business of the continued uncertainty in the global economic environment and financial markets, our ability to successfully integrate acquired businesses into our business and operations, our ability to protect against fraud, the status of our relationship with and condition of third parties such as our contract manufacturers, distributors and key suppliers upon whom we rely in the conduct of our business, our dependence on a limited number of customers, the conduct of our business and operations internationally, our ability to effectively hedge our exposure to foreign currency exchange rate fluctuations, and our dependence on a limited number of key employees. For a further list and description of the risks and uncertainties affecting the operations of our business, see our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and our quarterly reports on Form 10-Q. We may also provide material information about us on our investor relations website at www.ir.verifone.com, in company press releases and in social media postings. The forward-looking statements speak only as of the date such statements are made. Verifone is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

     

    About Ezetap

     

    At Ezetap, veterans from payments, hardware, cloud and SaaS industries have joined hands for the sole purpose of ushering in a new era of a frictionless digital payment ecosystem in India. Ezetap has deployed over 200,000 smart service points on its platform with customers ranging from brick-and-mortar retailers, e-commerce players, leading enterprises, and financial inclusion organizations. Ezetap processes over US$1.5 billion annually and has been ranked twice in-a-row by CNBC in their Global Top 50 Disruptor List 2016 and 2017. The company has raised over $50 million in funding and its investors include Social Capital, the Silicon Valley firm led by former Facebook executive Chamath Palihapitiya, Helion Advisors, American Express, Li Ka-Shing’s Horizons Ventures, JS Capital (Jonathan Soros), Prime Venture Partners, and Capricorn Ventures (Jeff Skoll Group).

     

    About Verifone

     

    Verifone is transforming every day transactions into new and engaging opportunities for merchants and consumers at the last inch of payments and commerce. Powered by a growing footprint of more than 30 million devices in more than 150 countries, our people are trusted experts working with the world’s best-known retail brands, financial institutions, and payment providers. Verifone is connecting more products to an integrated solutions platform to better meet the evolving needs of our clients and partners. Built on a 35-year history of uncompromised security, we are committed to consistently solving the most complex payment challenges. Verifone.com | (NYSE: PAY) | @verifone.

     

     
    MULTIMEDIA AVAILABLE :
    http://www.businesswire.com/news/home/20180312006271/en/

    0 0

    Business Wire IndiaBajaj Finance Ltd, the lending arm of Bajaj Finserv is offering personal loans at reduced interest rates of 12.99 percent for a loan amount above Rs.10 lacs.

    Customers availing loan amount of Rs. 8 lakh to Rs. 11.99 lakh will enjoy a lower interest rate of 13.49%. These special interest rates can be availed between 9th to 13th March 2018.

    Applying for a personal loan with Bajaj Finserv is a seamless and convenient process wherein the applicants can log on to company’s website to check the eligibility and fill in the application. Personal loans by Bajaj Finserv offers benefits like minimal documentation, instant approval and rapid disbursal. Consumers can utilize the loan amount to plan a holiday trip this summer or pay for emergency expenses or meet monetary deadlines.

    Benefits of Bajaj Finserv personal loan
     
    Higher loan amount
    Whether it is an unforeseen medical expenditure or funding child’s higher education, Bajaj Finserv Personal Loan gives an access to funds up to Rs.25 lakh. There is absolutely no restriction on how the amount is used
     
    Flexible tenure
    To ensure that the loan doesn’t become a financial burden, Bajaj Finserv offers a flexible tenure that ranges from 24 months to 60 months. Depending on the repayment ability, applicant can pick a tenure that is best suited
     
    Pre-approved offers
    If you’re an existing customer with Bajaj Finserv, getting access to a personal loan is even easier. The loan will be available to you on a pre-approved basis.
     
    Minimal documentation
    An Indian citizen in the age bracket of 25 to 55 years can apply for Bajaj Finserv Personal Loan with great ease. A handful of documents including bank details, KYC documents and proof of employment to apply for the loan. The minimal documentation speeds up the application process further.
    About Bajaj Finance Ltd.
     
    Bajaj Finance Limited, the lending and investment arm of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 19 million customers across the country. Headquartered in Pune, the company’s product offering includes Consumer Durable Loans, Lifestyle Finance, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Home loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Construction Equipment Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits and Advisory Services. Bajaj Finance Limited prides itself for holding the highest credit rating of FAAA/Stable for any NBFC in the country today.
     
    To know more, please visit https://www.bajajfinserv.in/finance/

    0 0

    Business Wire India

    QNB Group intends to recommend to the Extraordinary General Assembly of the Bank, to approve increasing the percentage of non-Qatari ownership in the Company’s capital to 49% instead of 25% in accordance with the applicable provisions of Law No. 9 of 2014 regulating the Investment of Non-Qatari Capital in the Economic Activity and subject to approval of the concerned regulators.

     

    This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180312005438/en/

     
    QNB Group Head office in Doha, Qatar (Photo: AETOSWire)

    QNB Group Head office in Doha, Qatar (Photo: AETOSWire)

    An Extraordinary General Assembly will be convened to present and approve the proposed amendment to QNB’s Articles’ of Association by adding an agenda item in respect of the above after securing the appropriate regulatory approvals of the proposed amendment.

     

    QNB Group will disclose the date and venue of the Extraordinary General Assembly in due course.

     

    QNB Group’s presence through its subsidiaries and associate companies extends to more than 31 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees exceeds 28,200 operating through more than 1,230 locations, with an ATM network of more than 4,300 machines.

     

    *Source: AETOSWire

     

     
    MULTIMEDIA AVAILABLE :
    http://www.businesswire.com/news/home/20180312005438/en/

older | 1 | .... | 45 | 46 | (Page 47) | 48 | 49 | .... | 69 | newer