Attn! Always use a VPN when RSSing!
Your IP adress is . Country:
Your ISP blocks content and issues fines based on your location. Hide your IP address with a VPN!
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 | .... | 56 | 57 | (Page 58) | 59 | 60 | .... | 69 | newer

    0 0

    Business Wire India

    Regulatory News:

     

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180710005118/en/

     

    FlexTrade (@FlexTrade) and The SmartStream Reference Data Utility (RDU) today announced the integration of the SmartStream RDU with the FlexTRADER EMS (execution management system). The integration offers mutual clients the ability to embed SmartStream RDU’s Systematic Internaliser (SI) Registry information directly into the send order ticket, providing much needed clarity on counterparty SI status, prior to key 2018 MiFID II milestone dates.

     

    The SI Registry fills a gap in the MiFID II reporting regime, which requires that industry participants identify whether trading counterparties are SIs for the financial instrument that they are trading, so that they can determine which counterparty must report the trade. However, no mechanism is provided in the MiFID II framework to determine SI status. The problem is especially acute for asset managers and hedge funds, who have not built the infrastructure needed to support reporting, and rely on their SI counterparties for those functions.

     

    The SI Registry is a collaboration between the SmartStream RDU, the Approved Publication Arrangement (APA) community and their SI clients to provide a consolidated register of systematic internalisers mapped to instruments. It will become increasingly important as the SI Regime becomes mandatory from 1st September 2018.

     

    “Now that we’ve moved to MiFID II business as usual, we have started to look at how we can make compliance a more integrated part of a trader’s workflow,” said Andy Mahoney, Head of Sales, FlexTrade UK Ltd. “With the first systematic internaliser assessments coming up later in the year, integration with SmartStream RDU’s SI Registry gives traders the transparency they need on a counterparty’s SI status before routing an order.”

     

    “The SI Registry offers transparency that is needed as part of the trade workflow and integration into FlexTRADER EMS making it easy for our mutual customers to make more informed choices. With the mandatory SI regime commencing from the 1st September this year, we see more brokers offering SI services and growing demand from clients to understand who is offering what,” said Peter Moss, CEO of the SmartStream RDU.

     

    “FlexTrade’s integration with the SmartStream RDU is fully cross-asset and embedded directly into the send order ticket as a flag to identify whether the selected counterparty is operating as an SI in the given instrument,” continued Mahoney. “Embedding regulatory compliance information into the EMS ensures the path to best execution is as efficient as possible.”

     

    To find out more about the integration of the SmartStream RDU in FlexTRADER, or to request a demo, please contact sales_eu@flextrade.com.

     

    About FlexTrade Systems, Inc.

     

    Founded in 1996, FlexTrade Systems, Inc. is the industry pioneer in broker-neutral algorithmic trading platforms for equities, foreign exchange and listed derivatives. With offices in North America, Europe and Asia, FlexTrade has a worldwide client base spanning more than 200 buy-side and sell-side firms, including many of the largest hedge funds, asset managers, commodity trading advisors, investment banks and institutional brokers. For more information, visit FlexTrade Systems at www.flextrade.com

     

    About SmartStream Reference Data Utility

     

    The SmartStream Reference Data Utility (RDU) is a managed service that delivers complete, accurate and timely reference data for use in critical regulatory reporting, trade processing and risk management operations, dramatically simplifying and reducing unnecessary costs for financial institutions. The RDU acts as a processing agent for its participants selected data sources; sourcing, validating and cross-referencing data using market best practises so that these processes do not need to be duplicated in every financial institution. An experienced global team, who operate under the compliance frameworks of their customers, deliver data that is fit-for-purpose, consistent and in a format that is specific to the financial institutions’ needs. For more information, visit www.smartstreamrdu.com

     

     

     

     
    MULTIMEDIA AVAILABLE :
    https://www.businesswire.com/news/home/20180710005118/en/

    0 0

    Business Wire India

    Early stage venture capital firm Lightspeed Venture Partners (“Lightspeed”) today announced the closings of Lightspeed Venture Partners XII, L.P. (“Fund XII”) with $750 million of committed capital and Lightspeed Venture Partners Select III, L.P. (“Select Fund III”) with $1.05 billion of committed capital.

     

    Fund XII marks a continuation of Lightspeed’s strategy as an early stage investor (Seed, Series A and Series B) focused on accelerating disruptive innovations and trends in the Enterprise and Consumer sectors. Lightspeed has backed over 300 entrepreneurs and companies that have gone on to redefine the way people live and work.

     

    Select Fund III will complement the firm’s early stage fund strategy with follow-on rounds in existing Lightspeed portfolio companies in their early growth phase (predominately Series C and beyond) as well as new investments in companies that have demonstrated compelling product-market fit, strong fundamentals and scalability.

     

    Lightspeed has distributed in excess of $2.7B in portfolio realizations since the start of 2017 alone, including AppDynamics, Snap, MuleSoft, Nutanix and Stitch Fix among others. The momentum has continued in 2018 with the $6.5 billion Salesforce acquisition of MuleSoft in May, Zscaler IPO in March, and Forty Seven IPO in June. Of the more than 300 companies Lightspeed has partnered with since the firm’s founding, a third have either gone public or been acquired. More than 15 of those IPOs have occurred in the last decade alone.

     

    Since its founding in 2000, Lightspeed has built a reputation as an early pioneer in enterprise investing in companies such as AppDynamics, Elementum, Exabeam, MuleSoft, Nimble Storage, Netskope, Nutanix, and Rubrik. For the past decade, Lightspeed’s rapidly scaling consumer practice has included investments in companies including Affirm, GIPHY, GrubHub, The Honest Company, Nest, Snap, Stitch Fix and Zola. Over 33% of the firm’s consumer investments over the past six years are in female-founded companies.

     

    The partners of Lightspeed represent decades of company-building experience with technical expertise and a deep global network of relationships to help founders, including first-time CEOs, scale their businesses from the earliest stages of development to successful exits and beyond. Most recently, the firm welcomed the Chairman of Microsoft, John W. Thompson, and Semil Shah as Venture Partners, and Bradley Twohig and Natalie Luu as Partners.

     

    Through its international presence and access to resources in Silicon Valley, Israel, China and India, the firm is able to help its portfolio companies tap into the talent and large market opportunities in those important geographies. The firm has a global mindset and is geographically diverse—notably, 80% of consumer investments at Lightspeed are outside the Bay Area.

     

    Lightspeed currently manages over $6 billion of committed capital and is headquartered in Menlo Park, CA.

     

    About Lightspeed

     

    Lightspeed Venture Partners is an early stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise and Consumer sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 300 companies globally, including Snap, The Honest Company, GrubHub, Nest, Nutanix, AppDynamics, and MuleSoft. The firm currently manages over $6 billion of committed capital and invests in the U.S. and internationally, with investment professionals and advisors in Silicon Valley, Israel, India and China. www.lsvp.com

     

     

     

     

    0 0

    Business Wire India

    BAI announced the finalists for the 2018 BAI Global Innovation Awards, the industry’s most prestigious awards program that unveils the most transformative solutions in the financial services industry worldwide. BAI also launched the new People’s Choice Award where voters throughout the industry will select which innovation is the most powerful among the BAI Global Innovation Award finalists.

     

    Now in its eighth year, the BAI Global Innovation Awards recognizes industry leaders and showcases what leading financial services innovators in all regions of the world are doing to deliver new value to customers and employees and improve efficiencies and profitability for their organizations. Each nomination is evaluated by the Innovation Circle. These judges weigh each innovation on originality and impact on consumers and the industry. The BAI Global Innovation Award winners will be announced in August and celebrated at BAI Beacon in Orlando, Fla., on Oct. 9–11.

     

    For the first time this year, BAI Global Innovation Awards will include a People’s Choice Award. Finalists from several key award categories are contenders for the award, and voting is now open. While BAI Global Innovation Awards finalists compete for this industry recognition, voters have an opportunity to participate and learn about innovation shaping the future. One winner will be selected for the award, which will also be announced and celebrated at BAI Beacon.

     
     

    The 2018 BAI Global Innovation Awards finalists are:

     

    Best Application of Data Analytics, AI or Machine Learning in a Product or Service

    First National Bank, Johannesburg, South Africa: Robo-Advice Tool for Life Insurance
    Jibun Bank Corporation, Tokyo, Japan: AI Support Tool for Foreign Currency Deposits
    OneConnect Smart Technology Co., Ltd. (Shenzhen), Shanghai, China: AI Verification using Insure Tech
    Ping An Technology, Shanghai, China: Emotion Recognition Based Financial Risk Management System
     

    Innovative Touchpoints and Connected Experiences

    CaixaBank, Barcelona, Spain: CaixaBank Now App
    HDFC Bank Limited, Mumbai, India: HDFC Bank Mobile Banking Card
    mBank S.A., Warsaw, Poland: Breakthrough Customer Experience in Distribution of Banking Products
    USAA, San Antonio, Texas, U.S.: IVR to Digital Channel Shift
     

    Internal Process Innovation

    DenizBank, Istanbul, Turkey: Internal Fraud Defence
    Live Oak Bank, Alpharetta, Ga., U.S.: 100 Percent Re-Invention to Cloud Service Operations for Boundaryless Anytime-Anywhere Employee Enablement
    Royal Bank of Canada (RBC), Toronto, Canada: RBC Blockchain Shadow Ledger for Cross-border Payments
     

    Innovation in Societal and Community Impact

    KASIKORNBANK PLC., Bangkok, Thailand: KPLUS Beacon – Mobile Banking Application for the Visually Impaired
    Nova Credit, San Francisco, Calif., U.S.: The World’s Premier Cross-Border Credit Bureau
    Rukula (Pvt) Ltd, Columbo 5, Sri Lanka: Micro-Credit for Consumer Product Purchases in Sri Lanka for the Financially Underserved
    USAA, San Antonio, Texas, U.S.: Aerial Imagery Tool
     

    Innovation in Customer Experience

    Arion Bank, Reykjavík, Iceland: Digital Mortgage Process
    Bank of America, Charlotte, N.C., U.S.: Meet Erica: Bank of America's New Virtual Financial Assistant
    Best Innovation Group, Oak Ridge, Tenn., U.S.: Financial Innovation Voice Experience (FIVE)
    NovoPayment, Miami, Fla., U.S.: Embedding FinServ in Gig Value Chain
     

    Human Capital Innovation

    Albaraka Turk Participation Bank, Istanbul, Turkey: Yourunge Project
    DenizBank, Istanbul, Turkey: HR in a pocket
    Fifth Third Bank, Cincinnati, Ohio, U.S.: Maternity Concierge
    Intesa Sanpaolo, Turin, Italy: ISP Digital Learning – Portal and Smartphone App to Learn Anytime, Anywhere
     

    Innovation in Marketing

    CaixaBank, Barcelona, Spain: imaginCafe
    DenizBank, Istanbul, Turkey: Denizbank Credit X
    Intesa Sanpaolo, Turin, Italy: XME Conto UP! Marketing Campaign: the New Relationship Between Young People and Intesa Sanpaolo
    Turkiye Is Bankasi A.S., Istanbul, Turkey: Isbank's Self-Learning Marketing Hub
     

    Innovative Accelerator or Incubator

    Albaraka Turk Participation Bank, Istanbul, Turkey: Albaraka Garaj Acceleration Center
    Arion Bank, Reykjavík, Iceland: Digital Future - Internal Accelerator
    Emirates NBD, Dubai, United Arab Emirates: Emirates NBD 3D Open Innovation Boost
     

    Wild Card Honorable Mention

    DBS Bank, Singapore: DBS API (application programming interface) Developers’ Programme
    FARFA Foundation, Chiniot, Pakistan: FARFA BLT Incubator
     
    Additionally, all nominees are considered for BAI’s Outstanding Achievement Awards. The finalists for the three honors are:
     

    Disruptive Innovation in Financial Services

    Nova Credit: The World’s Premier Cross-Border Credit Bureau
    NovoPayment: Embedding FinServ in Gig Value Chain
    USAA: Aerial Imagery Tool
     

    Outstanding Use of AI in Financial Services

    Jibun Bank Corporation: AI Support tool for Foreign Currency Deposits
    OneConnect Smart Technology Co., Ltd. (Shenzhen): AI Verification using Insure Tech
    Ping An Technology: Emotion Recognition Based Financial Risk Management System
     

    Most Innovative FinServ of the Year

    Arion Bank, Iceland
    CaixaBank, Spain
    DenizBank, Turkey
    USAA, U.S.
     

    To learn more visit BAIGlobalInnovations.com.

     

    About BAI

     

    As a nonprofit, independent organization, BAI delivers the financial services industry’s most actionable insights, enabling leaders to make smart business decisions every day. BAI is passionate about the trusted information and powerful tools that provide leaders with the clarity and confidence needed to drive positive change and move the industry forward. For more information, visit www.bai.org.

     

     

    0 0

    Business Wire India

    Henley & Partners, a leading global investment migration firm, has won the public tender to design, implement, and promote the much-anticipated Moldova Citizenship-by-Investment (MCBI) program. The firm submitted its application for the public tender — issued by the Ministry of Economy and Infrastructure of the Republic of Moldova — at the end of May.

     

    The MCBI program, set to launch within the next few months, will become the third such program in Europe — after Malta and Cyprus —and the most affordable, giving individuals the opportunity to acquire alternative citizenship by making a EUR 100,000 contribution to Moldova’s Public Investment Fund.

     

    Henley & Partners has accumulated over 20 years of experience working with governments in North America, the Caribbean, Europe, and Asia on the design, set-up, operation, and promotion of some of the world’s most successful residence and citizenship programs, raising more than USD 7 billion in foreign direct investment (FDI).

     

    The firm applied for the mandate as part of a consortium together with MIC Holding LLC (Moldovan Investment Company), a company based in Dubai, UAE and founded to focus on strategic FDI initiatives. In addition, an agreement has been signed with the Boston Consulting Group (BCG), a leading global management consulting firm with 90 offices in 50 countries, to provide advice on best-in-class FDI strategy and implementation.

     

    “The program is poised for success on account of its competitive pricing structure and strong value proposition,” says Marco Gantenbein, Executive Committee member at Henley & Partners. “Moldova offers its citizens visa-free access to 121 destinations, including the countries in Europe’s Schengen Area as well as Russia and Turkey. It has entered into an association agreement with the EU and is aiming to become a candidate country for EU membership.”

     

    Moldova’s Minister of Economy and Infrastructure, Chiril Gaburici, says his government’s primary objective is to create long-lasting societal value for the Moldovan people. “The MCBI program will provide our economy with valuable FDI that will enhance the daily lives of all Moldovans. Uncompromising due diligence standards and compliance procedures will guarantee the credibility, competitiveness, and long-term sustainability of the program. In this regard, we are delighted to be working with Henley & Partners, whose good governance systems are industry-leading.”

     

    Read more about the program.

     

     

     

     

    0 0

    Business Wire India

    MetLife has announced Lucep as the winner of its collab 3.0 EMEA programme, which offered insurtech innovators the chance to win a USD $100,000 contract to pilot their solutions with MetLife.

     

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180712005937/en/

     
    (L-R) Zia Zaman, LumenLab CEO and Chief Innovation Officer of MetLife, Asia; Françoise Lamotte, Head ...

    (L-R) Zia Zaman, LumenLab CEO and Chief Innovation Officer of MetLife, Asia; Françoise Lamotte, Head of Direct and Digital, MetLife EMEA; Zal Dastur, COO & Co-founder, Lucep; Kaiesh Vohra, CEO & Co-founder, Lucep; Eric Clurfain, Head of MetLife EMEA (Photo: Business Wire)

    A record 148 start-ups from 32 countries applied for the programme, run by LumenLab, MetLife Asia’s Singapore-based innovation centre, designed to support them in scaling their business with MetLife while helping to solve some of the insurer’s biggest innovation challenges across its business in Europe, the Middle East, and Africa (EMEA).

     

    Singapore-based Lucep was selected as the winner following yesterday’s Demo Day, the finale of the programme, through a rigorous judging process. Lucep is an omni-channel engagement system that generates leads from digital channels and directs them to the best agents available to respond to the call, providing the agent with analytics and data on the prospect to help convert them to a customer.

     

    Prior to Demo Day, the eight finalists were invited to collab Summit EMEA which hosted industry experts, world-class entrepreneurs, and venture capitalists in Canary Wharf, London, with a series of keynote speeches plus panel discussions on ‘The Future Insurer’ and the ‘Innovation Ecosystem’. The collab finalists also included Anorak, Kasko, The ID Co., and CUBE from the UK plus US firms DataRobot and Eltropy as well as TrustSphere from Singapore.

     

    Zia Zaman, LumenLab’s CEO and Chief Innovation Officer of MetLife Asia said: “The record participation in collab 3.0 EMEA highlights the growth of the global insurtech sector and the high calibre of applicants made it very difficult to select an overall winner.”

     

    “Congratulations to Lucep. We look forward to working with them, and possibly other finalists, as we continue to transform the insurance industry and the way we interact with our customers through innovation.”

     

    Eric Clurfain, Head of MetLife EMEA added: “The collab 3.0 EMEA programme has seen insurtech innovators, supported by our employee champions, tackle real challenges facing MetLife today. We are looking forward to partnering with Lucep to develop this exciting solution further to drive value for our business and enhance the experience for our customers.”

     

    collab 3.0 EMEA, launched in March 2018 and is LumenLab’s third iteration of the ‘collab’ open innovation programme which aims to globally engage insurtech startups and offer them a fast-track opportunity to scale their businesses with MetLife.

     

    During the collab programme, the eight finalists were supported in developing their solutions and enhancing their understanding of MetLife’s business by ‘employee champions’, putting into practice the company’s commitment to talent development and promoting a culture of innovation.

     

    To date, MetLife has awarded more than USD $500,000 worth of contracts through collab in Asia that have helped develop practical solutions delivering value to MetLife’s business and customers.

     

    For more information on collab 3.0 EMEA and the eight finalists, visit: http://collab.lumenlab.sg/

     

    - ENDS -

     

    About MetLife

     

    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, symbolises 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 :
    https://www.businesswire.com/news/home/20180712005937/en/

    0 0

    Business Wire India

    Visa (NYSE: V), the Official Payment Services Partner of FIFA, today released an analysis of spending inside the 2018 FIFA World Cup Russia™ stadiums from the opening match on June 14 through the semi-finals on July 11. The data highlights the increased consumer adoption of innovative payment technology, as fifty percent of purchases with Visa in tournament venues utilized contactless transactions, including cards, mobile devices and wearables.

     

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180713005025/en/

     
    For the 2018 FIFA World Cup Russia™, Visa is the exclusive payment service in all stadiums where pay ...

    For the 2018 FIFA World Cup Russia™, Visa is the exclusive payment service in all stadiums where payment cards are accepted. In-stadium, fans can pay with contactless Visa credit and debit cards and mobile payment services at the more than 3,500 point-of-sale terminals and 1,000 mobile concessionaires that have been equipped with the latest in payment innovation. (Photo: Business Wire)

    Visa cardholders on average spent 1,408 rubles (approximately $23.00) per transaction inside the stadiums throughout the tournament, with fans from Russia spending the most, followed by United States and Mexico, respectively. The largest average individual purchases were seen on in-stadium merchandise (4,200 rubles; approximately $68.00), Fan Fest merchandise (3,300 rubles; approximately $53.00) and in-stadium food and beverage (800 rubles; approximately $13.00).

     

    “Visa’s sponsorships enable us to showcase the latest in payment innovation on a global stage,” said Lynne Biggar, chief marketing and communications officer, Visa Inc. “Visa cardholder spending data during the FIFA World Cup™ illustrates the growth of contactless payments in Russia and fans’ reliance on quick and secure payments so that they can spend less time in line and more time focused on the pitch.”

     

    Of the 62 matches played at the 2018 FIFA World Cup Russia™ thus far, the opening match between the host nation and Saudi Arabia at Luzhniki Stadium had the highest payment volume, with fans spending over 55 million rubles (approximately $900,000). Of the total spend at the Opening Match, 69 percent came from Russian citizens and 31 percent came from non-Russian citizens.

     

    “The Russian payment industry is undergoing a dynamic transformation and has seen huge growth,” said Ekaterina Petelina, country manager, Visa Russia. “Through our partnership with FIFA, Visa is focused on providing fans in Russia with new ways to pay, while advancing our business in market.”

     

    Top Spending Nations

     

    The ten countries whose fans spent the most inside the FIFA World Cup™ stadiums on their Visa cards were as follows:

     
    • Russia: 750 million rubles ($12 million)
    • United States: 188 million rubles ($3 million)
    • Mexico: 94 million rubles ($1.5 million)
    • China: 67 million rubles ($1.1 million)
    • Argentina: 41 million rubles ($700,000)
    • Peru: 35 million rubles ($560,000)
    • England: 34 million rubles ($550,000)
    • Brazil: 28 million rubles ($500,000)
    • Colombia: 26 million rubles ($420,000)
    • Australia: 25 million rubles ($400,000)

    In-Stadium Spending

     

    The opening match on June 14 -- where fans from 123 countries filled the stadium -- saw the highest volume of payment transactions. The July 1 match between Russia and Spain saw the second highest volume of transactions during the tournament.

     

    On average, in-stadium transaction amount for all 62 matches was 1,168 rubles (approximately $19.00). Russian fans on average spent 1,090 rubles (approximately $18.00) on in-stadium purchases throughout the FIFA World Cup™ while international guests attending the tournament spent 1,915 rubles (approximately $31.00).

     

    Top Stadium Purchase Volume

     

    The five FIFA World Cup™ stadiums where fans spent the most on their Visa cards include:

     
    • Luzhniki (Moscow): 533 million rubles ($8.6 million)
    • Saint Petersburg: 208 million rubles ($3.3 million)
    • Samara: 125 million rubles ($2 million)
    • Sochi: 117 million rubles ($1.9 million)
    • Spartak (Moscow): 114 million rubles ($1.8 million)

    Top Fan Fest Purchase Volume

     

    The five FIFA World Cup™ Fan Fest watch party venues where fans spent the most on their Visa cards include:

     
    • Luzhniki (Moscow): 251 million rubles ($4 million)
    • Saint Petersburg: 38 million rubles ($615,000)
    • Kazan: 11 million rubles ($170,000)
    • Samara 8.8 million rubles ($141,000)
    • Sochi: 8.5 million rubles ($136,000)

    Cashless from Kick-off to the Final Match

     

    For the 2018 FIFA World Cup Russia™, Visa is the exclusive payment service in all stadiums where payment cards are accepted. In-stadium, fans can pay with contactless Visa credit and debit cards and mobile payment services at the more than 3,500 point-of-sale terminals and 1,000 mobile concessionaires that have been equipped with the latest in payment innovation.

     

    About Visa

     

    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 About Visavisacorporate.tumblr.com and @VisaNews.

     

    Visa Data: Transactions were analyzed on Visa cards, which were made in 12 stadiums in 11 host cities of the 2018 FIFA World Cup™ for the period from June 14 to July 11, 2018, inclusive.

     

     
    MULTIMEDIA AVAILABLE :
    https://www.businesswire.com/news/home/20180713005025/en/

    0 0

    Business Wire India

    TA Associates, a leading global growth private equity firm, today announced that it has completed a minority investment in Prudent Corporate Advisory Services (“Prudent”), an independent distributor of mutual fund and other wealth products in India. Financial terms of the transaction were not disclosed.

     

    Founded in 2001, Prudent provides personal and corporate investment planning services through the distribution of mutual funds, bonds, broking and insurance products. The company operates through its network of over 10,000 Independent Financial Advisors (“IFAs”) and has in excess of 18,000 Cr of assets under management (“AUM”). Prudent provides its IFA partners with training and development services, technology platforms to grow and manage their client-base, back-office services, and sales and marketing support. The company is headquartered in Ahmedabad, Gujarat and operates a total of 70 branches across 19 states in India.

     

    “With its IFA-centric business model, multiple service offerings and robust technology platforms, we believe Prudent represents a unique and exciting investment opportunity,” said Aditya Sharma, Senior Vice President, TA Associates Advisory Private Limited, who will join the Prudent Board of Directors. “We look forward to collaborating with the entire Prudent team to help take the company to the next level.”

     

    “TA’s investment is a critical milestone for Prudent as we embark on our next phase of growth and seek to deepen our presence across multiple states and untapped markets,” said Sanjay Shah, Founder and Managing Director of Prudent Corporate Advisory Services. “As an active and respected investor within the financial services vertical, TA has developed a quality reputation of forming trust-based relationships with founders and management teams that lend themselves to positive results. It is evident that TA shares our vision to incorporate additional value creation for our customers and IFA partners, and we are thrilled to have them as part of the Prudent family.”

     

    The Indian asset management industry’s AUM has grown at a compounded annual growth rate (CAGR) of 18% over the last 10 years. As of the end of March 2018, the industry had a total AUM of approximately $338 billion. Furthermore, according to AMFI, the industry’s AUM is expected to grow at a 23% CAGR for the next 5 years and reach $936 billion by 2023.

     

    “Due to growing investor awareness and increasing mutual fund penetration, we anticipate that the Indian asset management space will experience significant long-term growth,” said Dhiraj Poddar, Country Head of India at TA Associates Advisory Private Limited, who also will join the Prudent Board of Directors. “Because of this trend, we have spent a fair amount of time and resources tracking the Indian asset management, distribution and allied services space. We believe that Prudent is well-positioned to capitalize in this large and developing marketplace and can provide notable benefits to India’s growing wealth management sector.”

     

    “Since Prudent’s founding, we have strived to provide the highest quality end-to-end services and training programs for our network of IFAs to ensure that we are positioning them for success,” said Shirish Patel, Chief Executive Officer of Prudent Corporate Advisory Services. “With TA’s investment, we will look to scale the business to meet the evolving needs and goals of our dedicated client base. We welcome TA as an investor in Prudent and are eager to begin working with their talented team of investment and operating professionals.”

     

    DSK Legal provided legal counsel to TA Associates. Shardul Amarchand Mangaldas & Co. provided legal counsel to Prudent.

     

    About Prudent Corporate Advisory Services
    Prudent Corporate Advisory Services provides personal and corporate investment planning services through the distribution of mutual funds, bonds and third-party products. In addition to having a large pool of its own clients, Prudent also manages geographically diverse business operations through an exclusive platform for Independent Financial Advisors (IFAs). Prudent provides the advisors with the latest training and consultation, technology, operations, back-office and support for sales and marketing. Prudent distributes its products to approximately 560,000 retail investors through its network of over 10,000 IFAs. The company is headquartered in Ahmedabad, Gujarat and operates a total of 70 branches across 19 states in India. More information about Prudent can be found at www.prudentcorporate.com.

     

    About TA Associates
    Now in its 50th year, TA Associates is one of the largest and most experienced global growth private equity firms. Focused on five target industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in nearly 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in growth companies. TA has raised $24 billion in capital since its founding in 1968 and is committing to new investments at the pace of $1.5 to $2 billion per year. The firm’s more than 80 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

     

     

     

     

    0 0

    Business Wire India

    Bank of America reported its second-quarter 2018 financial results. The news release, supplemental filing and investor presentation can be accessed in the following ways:

     

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180716005280/en/

     

    Investor Conference Call information
    Chief Executive Officer Brian Moynihan and Chief Financial Officer Paul Donofrio will discuss the financial results in a conference call at 8:30 a.m. ET today. For a listen-only connection to the conference call, dial 1.877.200.4456 (U.S.) or 1.785.424.1732 (international), and the conference ID is 79795.

     

    Please dial in 10 minutes prior to the start of the call. Investors can also listen to a live audio webcast of the conference call and view the presentation slides by visiting the Events & Presentations section of the company’s Investor Relations website.

     

    Replay information for Investor Conference Call
    Investors can access replays of the conference call by visiting the Investor Relations website or by calling 1.800.934.4850 (U.S.) or 1.402.220.1178 (international) from noon on July 16, through 11:59 p.m. ET on July 23.

     

    Bank of America
    Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 47 million consumer and small business relationships with approximately 4,400 retail financial centers, approximately 16,100 ATMs, and award-winning digital banking with approximately 36 million active users, including 25 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

     

    For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom. Click here to register for news email alerts.

     

    www.bankofamerica.com

     

     
    MULTIMEDIA AVAILABLE :
    https://www.businesswire.com/news/home/20180716005280/en/

    0 0

    Business Wire India

    NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933) OR IN OR INTO JAPAN, THE PEOPLE’S REPUBLIC OF CHINA, SWITZERLAND OR ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW.

     

    JPMorgan Chase Bank, N.A. (the “Issuer”) announces the placement of cash-settled exchangeable bonds due 2020 (the “Bonds”) in aggregate principal amount of USD 350 million. The Bonds are referable to H-shares (the “Shares”) of Ping An Insurance (Group) Company of China Limited (the “Company”). Exchange rights in respect of the Bonds will be cash-settled only.

     

    The Bonds will be issued in principal amounts of USD 200,000 and integral multiples of USD 100,000 in excess thereof and will not bear interest. The Bonds will be issued with an issue price of 100% and will redeem at par on 30 December 2020.

     

    The initial exchange price (the “Initial Exchange Price”) will be set at a 16% premium to the reference share price (the “Share Reference Price”) that will be based on the simple arithmetic average of the daily volume-weighted average prices of a Share on the Hong Kong Stock Exchange over a period of 2 consecutive trading days commencing on (and including) 18 July 2018, subject as provided in the terms and conditions of the Bonds (the “Share Reference Period”). The Share Reference Price and the Initial Exchange Price are expected to be announced on 19 July 2018 at the end of the Share Reference Period.

     

    Settlement and delivery of the Bonds is expected to take place on 20 July 2018 (the “Issue Date”).

     

    The net proceeds from the issue of Bonds will be used by the Issuer for its general corporate purposes (including hedging arrangements).

     

    Application will be made for the Bonds to be admitted to trading on the Open Market (Freiverkehr) segment of the Frankfurt Stock Exchange and such admission to trading is expected no later than one month after the Issue Date.

     

    The Bonds are expected to be rated “Aa3” by Moody’s Investors Services, Inc. (“Moody’s”).

     

    J.P. Morgan Securities plc acted as Sole Bookrunner and will be acting as Calculation Agent.

     

    The Issuer intends to enter into certain derivatives arrangements with the Sole Bookrunner to hedge the exposure to pay cash amounts upon any potential exercise of the exchange rights embedded in the Bonds and/or upon redemption. The Sole Bookrunner is party to certain existing derivative arrangements in relation to the Shares and may enter into further transactions to hedge its position, or adjust its hedging position under such arrangements, including transactions to be conducted during the reference period regarding the determination of the Share Reference Price and other averaging and valuation periods in relation to the Bonds. Such activity may impact the Share Reference Price, the price or value of the Shares and Bonds more generally, including without limitation during such averaging or valuation periods.

     

    About JPMorgan Chase

     

    JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. JPMorgan Chase & Co. is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

     

    Further Information

     

    Marie Cheung
    Tel.: +852 2800 1303
    Email: Marie.W.Cheung@jpmorgan.com

     

    Patrick Burton
    Tel.: +44 (0) 207 134 9041
    Email: patrick.o.burton@jpmorgan.com

     

    IMPORTANT NOTICE

     

    NO ACTION HAS BEEN TAKEN BY THE ISSUER, THE SOLE BOOKRUNNER OR ANY OF THEIR RESPECTIVE AFFILIATES THAT WOULD PERMIT AN OFFERING OF THE BONDS OR POSSESSION OR DISTRIBUTION OF THIS PRESS RELEASE OR ANY OFFERING OR PUBLICITY MATERIAL RELATING TO THE BONDS IN ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE IS REQUIRED. PERSONS INTO WHOSE POSSESSION THIS PRESS RELEASE COMES ARE REQUIRED BY THE ISSUER AND THE SOLE BOOKRUNNER TO INFORM THEMSELVES ABOUT, AND TO OBSERVE, ANY SUCH RESTRICTIONS.

     

    A CREDIT RATING IS NOT A RECOMMENDATION TO BUY, SELL OR HOLD SECURITIES AND MAY BE SUBJECT TO REVISION, QUALIFICATION, SUSPENSION, REDUCTION OR WITHDRAWAL AT ANY TIME BY THE ASSIGNING RATING AGENCY. THE BONDS ARE EXPECTED TO BE RATED BY MOODY’S AND THERE IS NO ASSURANCE THAT A RATING WILL BE GIVEN OR THAT THE BONDS WILL BE RATED AT ANY TIME. IN ADDITION, CREDIT RATING AGENCIES MAY CHANGE THEIR METHODOLOGY FOR ASSIGNING RATINGS AT ANY TIME. PROSPECTIVE INVESTORS SHOULD EVALUATE ANY RATING OF THE BONDS INDEPENDENTLY OF ANY OTHER RATING OF OTHER SECURITIES OF THE ISSUER OR THE COMPANY OR ANY RATING OF THE ISSUER OR THE COMPANY.

     

    THIS PRESS RELEASE IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S). ANY TERM SHEET PRODUCED IN CONNECTION WITH THE BONDS SHALL NOT BE AN OFFER TO SELL SECURITIES OR THE SOLICITATION OF ANY OFFER TO BUY SECURITIES, NOR SHALL THERE BE ANY OFFER OF SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER OR SALE WOULD BE UNLAWFUL.

     

    THE BONDS DESCRIBED IN THIS PRESS RELEASE ARE NOT REQUIRED TO BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR WITH ANY SECURITIES REGULATORY AUTHORITY OF ANY STATE OR OTHER JURISDICTION OF THE UNITED STATES. IN ADDITION, THE BONDS HAVE NOT BEEN REGISTERED UNDER THE REGULATIONS OF THE U.S. COMPTROLLER OF THE CURRENCY (“COMPTROLLER'S REGULATIONS”) RELATING TO SECURITIES OFFERINGS BY NATIONAL BANKS (12 C.F.R. PART 16). THE BONDS MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION.

     

    THE BONDS, WHEN OFFERED, WILL BE OFFERED AND SOLD OUTSIDE THE UNITED STATES IN COMPLIANCE WITH REGULATION S, AS SUCH REGULATION IS INCORPORATED INTO THE COMPTROLLER’S REGULATIONS BY 12 C.F.R. SECTION 16.5(G). THE BONDS MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (I) AS PART OF THEIR DISTRIBUTION AT ANY TIME OR (II) UNTIL 40 DAYS AFTER COMPLETION OF THE DISTRIBUTION OF BONDS, EXCEPT IN EITHER CASE IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT, AS SUCH REGULATION IS INCORPORATED INTO THE COMPTROLLER'S REGULATIONS BY 12 C.F.R. SECTION 16.5(G). TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM BY REGULATION S.

     

    THIS PRESS RELEASE AND THE OFFERING WHEN MADE ARE ONLY ADDRESSED TO, AND DIRECTED IN MEMBER STATES OF THE EUROPEAN ECONOMIC AREA (THE “EEA”), AT PERSONS WHO ARE “QUALIFIED INVESTORS” WITHIN THE MEANING OF ARTICLE 2(1)(E) OF THE PROSPECTUS DIRECTIVE (“QUALIFIED INVESTORS”). FOR THESE PURPOSES, THE EXPRESSION "PROSPECTUS DIRECTIVE" MEANS DIRECTIVE 2003/71/EC, AS AMENDED.

     

    THE BONDS WILL NOT AND MAY NOT BE OFFERED OR SOLD IN HONG KONG, BY MEANS OF ANY DOCUMENT, OTHER THAN (A) TO “PROFESSIONAL INVESTORS” AS DEFINED IN THE SECURITIES AND FUTURES ORDINANCE (CHAPTER 571 OF THE LAWS OF HONG KONG) (THE “SFO”) AND ANY RULES MADE UNDER THAT ORDINANCE; OR (B) IN OTHER CIRCUMSTANCES WHICH DO NOT RESULT IN ANY DOCUMENT BEING A “PROSPECTUS” AS DEFINED IN THE COMPANIES (WINDING UP AND MISCELLANEOUS PROVISIONS) ORDINANCE (CHAPTER 32 OF THE LAWS OF HONG KONG) OR WHICH DO NOT CONSTITUTE AN OFFER TO THE PUBLIC WITHIN THE MEANING OF THAT ORDINANCE. ANY TERM SHEET PRODUCED IN CONNECTION WITH THE BONDS SHALL NOT CONSTITUTE AN ADVERTISEMENT, INVITATION OR DOCUMENT RELATING TO THE BONDS WHICH IS DIRECTED AT, AND THE CONTENTS OF WHICH ARE NOT INTENDED TO BE ACCESSED OR READ BY, THE PUBLIC IN HONG KONG (EXCEPT IF PERMITTED TO DO SO UNDER THE SECURITIES LAWS OF HONG KONG) OTHER THAN WITH RESPECT TO THE BONDS WHICH ARE OR ARE INTENDED TO BE DISPOSED OF ONLY TO PERSONS OUTSIDE HONG KONG OR ONLY TO “PROFESSIONAL INVESTORS” AS DEFINED IN THE SFO AND ANY RULES MADE UNDER THAT ORDINANCE.

     

    THE BONDS HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE FINANCIAL INSTRUMENTS AND EXCHANGE ACT OF JAPAN (ACT NO. 25 OF 1948, AS AMENDED, THE “FINANCIAL INSTRUMENTS AND EXCHANGE ACT”). ACCORDINGLY, THE BONDS MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN JAPAN OR TO, OR FOR THE BENEFIT OF, ANY RESIDENT OF JAPAN (WHICH TERM AS USED HEREIN MEANS ANY PERSON RESIDENT IN JAPAN, INCLUDING ANY CORPORATION OR OTHER ENTITY ORGANISED UNDER THE LAWS OF JAPAN) OR TO OTHERS FOR RE-OFFERING OR RE-SALE, DIRECTLY OR INDIRECTLY, IN JAPAN OR TO, OR FOR THE BENEFIT OF, ANY RESIDENT OF JAPAN EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF, AND OTHERWISE IN COMPLIANCE WITH, THE FINANCIAL INSTRUMENTS AND EXCHANGE ACT AND OTHER RELEVANT LAWS AND REGULATIONS OF JAPAN.

     

    THE BONDS ARE NOT BEING OFFERED OR SOLD AND MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE PEOPLE’S REPUBLIC OF CHINA (FOR SUCH PURPOSES, NOT INCLUDING THE HONG KONG AND MACAU SPECIAL ADMINISTRATIVE REGIONS OR TAIWAN, THE “PRC”), EXCEPT AS PERMITTED BY THE SECURITIES LAWS OF THE PRC.

     

    THE BONDS ARE NOT INTENDED TO BE OFFERED, SOLD OR OTHERWISE MADE AVAILABLE TO AND SHOULD NOT BE OFFERED, SOLD OR OTHERWISE MADE AVAILABLE TO ANY RETAIL INVESTOR IN THE EEA. FOR THESE PURPOSES, A RETAIL INVESTOR MEANS A PERSON WHO IS ONE (OR MORE) OF: (I) A RETAIL CLIENT AS DEFINED IN POINT (11) OF ARTICLE 4(1) OF MIFID II; OR (II) A CUSTOMER WITHIN THE MEANING OF DIRECTIVE 2002/92/EC, WHERE THAT CUSTOMER WOULD NOT QUALIFY AS A PROFESSIONAL CLIENT AS DEFINED IN POINT (10) OF ARTICLE 4(1) OF MIFID II. CONSEQUENTLY, NO KEY INFORMATION DOCUMENT REQUIRED BY REGULATION (EU) NO 1286/2014, AS AMENDED (THE "PRIIPS REGULATION") FOR OFFERING OR SELLING THE BONDS OR OTHERWISE MAKING THEM AVAILABLE TO RETAIL INVESTORS IN THE EEA HAS BEEN PREPARED AND THEREFORE OFFERING OR SELLING THE BONDS OR OTHERWISE MAKING THEM AVAILABLE TO ANY RETAIL INVESTOR IN THE EEA MAY BE UNLAWFUL UNDER THE PRIIPS REGULATION.

     

    IN ADDITION, IN THE UNITED KINGDOM THIS PRESS RELEASE IS BEING DISTRIBUTED ONLY TO, AND IS DIRECTED ONLY AT, QUALIFIED INVESTORS (I) WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005, AS AMENDED (THE “ORDER”) AND QUALIFIED INVESTORS FALLING WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER, AND (II) TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS “RELEVANT PERSONS”). THIS PRESS RELEASE MUST NOT BE ACTED ON OR RELIED ON (I) IN THE UNITED KINGDOM, BY PERSONS WHO ARE NOT RELEVANT PERSONS, AND (II) IN ANY MEMBER STATE OF THE EEA OTHER THAN THE UNITED KINGDOM, BY PERSONS WHO ARE NOT QUALIFIED INVESTORS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS PRESS RELEASE RELATES IS AVAILABLE ONLY TO (A) RELEVANT PERSONS IN THE UNITED KINGDOM AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS IN THE UNITED KINGDOM AND (B) QUALIFIED INVESTORS IN MEMBER STATES OF THE EEA (OTHER THAN THE UNITED KINGDOM).

     

    ANY DECISION TO PURCHASE ANY OF THE BONDS SHOULD ONLY BE MADE ON THE BASIS OF AN INDEPENDENT REVIEW BY A PROSPECTIVE INVESTOR OF THE ISSUER’S AND THE COMPANY’S PUBLICLY AVAILABLE INFORMATION. NEITHER THE SOLE BOOKRUNNER NOR ANY OF ITS AFFILIATES ACCEPT ANY LIABILITY ARISING FROM THE USE OF, OR MAKE ANY REPRESENTATION AS TO THE ACCURACY OR COMPLETENESS OF, THIS PRESS RELEASE OR THE ISSUER’S AND THE COMPANY’S PUBLICLY AVAILABLE INFORMATION. THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS SUBJECT TO CHANGE IN ITS ENTIRETY WITHOUT NOTICE UP TO THE ISSUE DATE.

     

    THE SECURITIES ARE NOT READILY LIQUID INSTRUMENTS. THE SOLE BOOKRUNNER OR ANY OF ITS AFFILIATES MAY BUT SHALL HAVE NO OBLIGATION TO MAKE A SECONDARY MARKET FOR THE SALE AND PURCHASE OF THE SECURITIES. ALTHOUGH THE DEALER OR ITS AFFILIATES WILL TRY TO PROVIDE PRICING OR OFFER UNWIND FACILITIES, THERE MAY EXIST A TIME WHEN THERE IS A LACK OF LIQUIDITY OR LOW TRADING VOLUME IN THE MARKET FOR THE SECURITIES, WHICH COULD RESULT IN A DECREASE OF THE MARKET VALUE OF THE SECURITIES. IN THE EVENT THAT THE DEALER OR ITS AFFILIATES MAKES A SECONDARY MARKET, IT IS NOT A COMMITMENT TO PURCHASE ANY SECURITY AT A PARTICULAR TIME OR PRICE AND THE DEALER OR ITS AFFILIATES MAY SUSPEND OR TERMINATE MARKET MAKING AT ANY TIME, AT ITS OWN DISCRETION AND WITHOUT NOTICE TO THE HOLDERS. IF THE SECURITIES ARE EARLY REDEEMED PRIOR TO THE MATURITY DATE OR EARLY REDEMPTION DATE (IF APPLICABLE), THE HOLDER OF A SECURITIES MAY SUFFER A HIGHER LOSS OR SIGNIFICANTLY SMALLER GAIN ON THE PRINCIPAL INVESTED, AND MAY ALSO SUFFER SIGNIFICANT UNWIND COSTS AND WIDE BID OFFER SPREADS. EACH PROSPECTIVE INVESTOR SHOULD PROCEED ON THE ASSUMPTION THAT IT MUST BEAR THE ECONOMIC RISK OF AN INVESTMENT IN THE BONDS OR THE SHARES NOTIONALLY UNDERLYING THE BONDS (TOGETHER WITH THE BONDS, THE “SECURITIES”). NEITHER OF THE ISSUER NOR THE SOLE BOOKRUNNER MAKES ANY REPRESENTATION AS TO (I) THE SUITABILITY OF THE SECURITIES FOR ANY PARTICULAR INVESTOR, (II) THE APPROPRIATE ACCOUNTING TREATMENT AND POTENTIAL TAX CONSEQUENCES OF INVESTING IN THE SECURITIES OR (III) THE FUTURE PERFORMANCE OF THE SECURITIES EITHER IN ABSOLUTE TERMS OR RELATIVE TO COMPETING INVESTMENTS.

     

    THE SOLE BOOKRUNNER IS ACTING ON BEHALF OF THE ISSUER AND NO ONE ELSE IN CONNECTION WITH THE BONDS AND WILL NOT BE RESPONSIBLE TO ANY OTHER PERSON FOR PROVIDING THE PROTECTIONS AFFORDED TO CLIENTS OF THE SOLE BOOKRUNNER OR FOR PROVIDING ADVICE IN RELATION TO THE SECURITIES. IN CONNECTION WITH THE OFFERING OF THE BONDS, THE SOLE BOOKRUNNER AND ANY OF ITS AFFILIATES ACTING AS AN INVESTOR FOR ITS OWN ACCOUNT MAY TAKE UP THE SECURITIES AND IN THAT CAPACITY MAY RETAIN, PURCHASE OR SELL FOR ITS OWN ACCOUNT THE SECURITIES OR ANY OTHER SECURITIES OF THE ISSUER, THE COMPANY OR RELATED INVESTMENTS, MAY OFFER OR SELL THE SECURITIES OR OTHER INVESTMENTS OTHERWISE THAN IN CONNECTION WITH THE OFFERING OF THE BONDS, AND MAY ENTER INTO CONVERTIBLE ASSET SWAPS, CREDIT DERIVATIVES OR OTHER DERIVATIVE TRANSACITONS RELATING TO THE BONDS AND/OR THE UNDERLYING SHARES. AS A RESULT OF SUCH TRANSACTIONS, THE SOLE BOOKRUNNER MAY HOLD LONG OR SHORT POSITIONS IN SUCH BONDS OR DERIVATIVES OR IN THE UNDERLYING SHARES. THE SOLE BOOKRUNNER DOES NOT INTEND TO DISCLOSE THE EXTENT OF ANY SUCH INVESTMENT OR TRANSACTIONS. IN ADDITION, THE SOLE BOOKRUNNER AND ITS SUBSIDIARIES AND AFFILIATES MAY PERFORM SERVICES FOR, OR SOLICIT BUSINESS FROM, THE ISSUER, THE COMPANY OR MEMBERS OF THE ISSUER’S AND THE COMPANY’S RESPECTIVE GROUPS, MAY MAKE MARKETS IN THE SECURITIES OF SUCH PERSONS AND/OR HAVE A POSITION OR EFFECT TRANSACTIONS IN SUCH SECURITIES. EACH POTENTIAL INVESTOR ACKNOWLEDGES THAT THE SOLE BOOKRUNNER AND ITS AFFILIATES MAY FROM TIME TO TIME PERFORM VARIOUS INVESTMENT BANKING AND ADVISORY, BROKERAGE, COMMERCIAL BANKING, FINANCIAL ADVISORY AND FIDUCIARY SERVICES FOR THE COMPANY OR ITS AFFILIATES WHICH MAY HAVE CONFLICTING INTERESTS WITH RESPECT TO ANY POTENTIAL INVESTOR.

     

    EACH OF THE ISSUER AND THE SOLE BOOKRUNNER AND THEIR RESPECTIVE AFFILIATES EXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING TO UPDATE, REVIEW OR REVISE ANY STATEMENT CONTAINED IN THIS PRESS RELEASE WHETHER AS A RESULT OF NEW INFORMATION, FUTURE DEVELOPMENTS OR OTHERWISE.

     

    THE BONDS MAY NOT BE PUBLICLY OFFERED IN SWITZERLAND AND WILL NOT BE LISTED ON THE SIX SWISS EXCHANGE (“SIX”) OR ON ANY OTHER STOCK EXCHANGE OR REGULATED TRADING FACILITY IN SWITZERLAND. THIS PRESS RELEASE DOES NOT CONSTITUTE A PROSPECTUS WITHIN THE MEANING OF, AND HAS BEEN PREPARED WITHOUT REGARD TO THE DISCLOSURE STANDARDS FOR ISSUANCE PROSPECTUSES UNDER ART. 652A OR ART. 1156 OF THE SWISS CODE OF OBLIGATIONS OR THE DISCLOSURE STANDARDS FOR LISTING PROSPECTUSES UNDER ART. 27 FF. OF THE SIX LISTING RULES OR THE LISTING RULES OF ANY OTHER STOCK EXCHANGE OR REGULATED TRADING FACILITY IN SWITZERLAND. NEITHER THIS PRESS RELEASE NOR ANY OTHER OFFERING OR MARKETING MATERIAL RELATING TO THE BONDS OR THE OFFERING MAY BE PUBLICLY DISTRIBUTED OR OTHERWISE MADE PUBLICLY AVAILABLE IN SWITZERLAND. NEITHER THIS PRESS RELEASE NOR ANY OTHER OFFERING OR MARKETING MATERIAL RELATING TO THE OFFERING, THE ISSUER, OR THE BONDS HAVE BEEN OR WILL BE FILED WITH OR APPROVED BY ANY SWISS REGULATORY AUTHORITY. IN PARTICULAR, THIS PRESS RELEASE WILL NOT BE FILED WITH, AND THE OFFER OF BONDS WILL NOT BE SUPERVISED BY, THE SWISS FINANCIAL MARKET SUPERVISORY AUTHORITY FINMA (FINMA), AND THE OFFER OF BONDS HAS NOT BEEN AND WILL NOT BE AUTHORISED UNDER THE SWISS FEDERAL ACT ON COLLECTIVE INVESTMENT SCHEMES ("CISA"). THE INVESTOR PROTECTION AFFORDED TO ACQUIRERS OF INTERESTS IN COLLECTIVE INVESTMENT SCHEMES UNDER THE CISA DOES NOT EXTEND TO ACQUIRERS OF BONDS.

     

     

    0 0

    Business Wire IndiaWeizmann Forex Limited, a leading player in the foreign exchange and inward remittances space in the country, today announced that it has been awarded licenses to operate foreign exchange counters across Hyderabad, Goa, Cochin, Chandigarh and Mumbai airports. Out of these five cities, the company has received exclusive rights for Goa and Hyderabad airports for six and five counters respectively. In these 5-cities the company has received mandates for 3-years at three and 5-years at two airports respectively. With these additions, Weizmann Forex has significantly increased its presence in India’s most demand dense and fastest growing airports by now operating 18 airport forex counters across the country.

    Weizmann Forex’s first foray in the space of airport foreign exchange counters started in 2012 at Mangalore, and it is now in a position to serve over 81 million passengers across these additional five airports. The company is committed to delivering best-in-class services and products at competitive rates. These counters will provide in-bound and out-bound passengers with Weizmann Forex’s entire range of diversified offerings including Foreign Currency Notes, Prepaid Foreign Currency Cards, and Travellers’ Cheques.

    Weizmann Forex has designed its airport counters to be technologically advanced and aesthetically pleasing, blending in with the architecture of the airport terminal buildings while also establishing distinct visibility for the Weizmann Forex brand. Further, demonstrating continued commitment to environmental sustainability, Weizmann Forex has used 75% of materials in the construction of these new counters from reclaimed wood.

    Commenting on the development, Mr. B. Karthikeyan, Managing Director - Weizmann Forex Limited said: “As part of our strategy, we are committed to serving our customers through multiple touch points in an omni-channel distribution strategy that covers its digital website, substantial branch network and a renewed focus on airports. We have increased our presence across various Indian airports which will significantly enhance our brand visibility while enabling us to serve more walk-in customers. Going beyond business objectives, we remain conscious about our customers’ need for convenient access, the need of our airport partners to provide world-class ambience and experience and also our own objective as a responsible company to protect the environment for ourselves and for our future generations. We are committed to staying in the path of the relevance of our customers by providing new, innovative and value-added offerings, helping us strengthen our position as a leading player in the forex and remittances space.”
    About Weizmann Forex Limited (WFL)

    Weizmann Forex Limited (WFL) (NSE: WEIZFOREX; BSE: 533452) is a leading player in the foreign exchange and Inward remittances space. The company operates a diversified portfolio focused on Foreign Exchange, International & Domestic Money Transfer, and Import and Export Payment Solutions. An RBI Authorized Category II Dealer and Full Fledged Money Changer, WFL has a network of 200+ branches and 59,000+ customer touch points spread across all 640 districts in India along with leading global agent partnerships for its inward remittances business.

    The company’s large-scale and established logistics network for physical transfer of notes along with track record of compliance and security is backed by strong market intelligence that facilitates enhanced risk management and provides greater operational control.
     
    Weizmann Group has established a strong brand over 30 years of operations with over 28 million satisfied customers. The company offers multiple currencies and an extensive range of services and products for retail/corporate/wholesale customers including purchase & sale of Foreign Currency Notes, Prepaid Multi-currency International Cards and Travellers’ Cheques. The company also provides inbound/outbound remittance services focused on a range of verticals and significant usage segments. WFL is the largest principal agent network of Western Union Money Transfer for its remittance business in terms of branch network. WFL is leveraging its strong network to enhance value proposition by adding more products like travel insurance, trade remittances, tour and travel related services, domestic money transfer etc. and digitally enabling usage expansion through a Tech Enabled Multi-Service Business Solution and Payments platform. 

    Disclaimer

    This presentation is not, and nothing in it should be construed as, an offer, invitation or recommendation in respect of the Company’s credit facilities or any of the Company’s securities, or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy, the facilities or any of the Company’s securities in any jurisdiction. Neither this presentation nor anything in it shall form the basis of any contract or commitment. This presentation is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate.

    The Company has prepared this presentation based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein. These projections should not be considered a comprehensive representation of the Company’s cash generation performance.

    The financial information included in this presentation is preliminary, unaudited and subject to revision upon completion of the Company's closing and audit processes. This financial information has not been adjusted to reflect the outcome of any reorganization of the company’s capital structure, the resolution or impairment of any pre‐petition obligations, and does not reflect fresh start accounting which the company may be required to adopt.

    All forward-looking statements attributable to the Company or persons acting on its behalf apply only as of the date of this document, and are expressly qualified in their entirety by the cautionary statements included elsewhere in this document. The financial projections are preliminary and subject to change; the Company undertakes no obligation to update or revise these forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Inevitably, some assumptions will not materialize, and unanticipated events and circumstances may affect the ultimate financial results. Projections are inherently subject to substantial and numerous uncertainties and to a wide variety of significant business, economic and competitive risks, and the assumptions underlying the projections may be inaccurate in any material respect. Therefore, the actual results achieved may vary significantly from the forecasts, and the variations may be material.

    0 0

    Business Wire India

    A partnership between MetLife Foundation and Kiva, a global non-governmental organization, to support low-income entrepreneurs around the world saw thousands of employees from MetLife Asia directing micro loans worth USD 263,350. In some of the markets, the ‘Take Action’ campaign saw 100% participation from MetLife employees.

     

    MetLife Foundation made a contribution to Kiva to enable each MetLife employee to direct USD 25 to an entrepreneur who has no access to traditional financing to start, sustain and grow their businesses. MetLife Asia employees directed their USD 25 loan token to help entrepreneurs in the following areas:

                 
    Categories     Percentage     USD allocation
    Women     35.6%     93,825
    Agriculture     24.2%     63,600
    Youth     17.6%     46,325
    Green     22.6%     59,600


    The Kiva team is currently in the process of disbursing the loans to entrepreneurs in the four categories. With a 96% loan repayment rate, Kiva projects that MetLife Foundation’s original contribution will help many entrepreneurs.

     

    Steve Goulart, executive vice president and chief investment officer, MetLife Inc., and interim president of Asia, said: “What our people have done with MetLife Foundation and Kiva truly expresses the heart of MetLife’s great culture and our heritage of helping people and communities. I could not be more proud of our people, and excited that our more than ten thousand loans will play a part in creating opportunity for so many who otherwise would not have had the financial access needed to make a better life for themselves or their families.”

     

    MetLife Foundation’s mission is to improve financial lives of low income people around the world by partnering with innovative organizations that promote, create, and expand opportunities for financial health. In 2013, MetLife Foundation committed USD 200 million over five years. In Asia, MetLife Foundation has committed more than USD 50 million in Financial Inclusion grants since 2013 reaching more than 3.8 million low income individuals.

     

    Since its launch, Kiva has directed more than USD 1 billion in microloans by connecting a growing global community of 1.6 million lenders to 2.6 million entrepreneurs across the world with 81% being women. As Kiva borrowers repay their loans, the money can be reinvested so that additional entrepreneurs can receive support further helping increase financial inclusion. (this data is from Kiva website)

     

    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 MetLife Foundation

     

    MetLife Foundation was created in 1976 to continue MetLife’s long tradition of corporate contributions and community involvement. Since its founding through the end of 2017, MetLife Foundation has provided more than $783 million in grants and $70 million in program-related investments to organizations addressing issues that have a positive impact in their communities. In 2013, the Foundation committed $200 million to financial inclusion, and our work to date has reached more than 6 million low-income individuals in 42 countries. To learn more about MetLife Foundation, visit metlife.org.

     

    About Kiva.org

     

    Kiva is a non-profit organization working to alleviate poverty by connecting people around the world through microlending. With as little as a $25 loan, anyone can help a borrower create new opportunities for themselves and their family. Together with more than 890,000 Kiva lenders and a worldwide network of microfinance institutions, Kiva has created economic opportunity for more than 975,000 borrowers. Since its inception in 2005, Kiva lenders have funded more than $390 million in loans with a 98.9% repayment rate. Visit www.kiva.org for more information.

     

     

    0 0

    Business Wire India

    WNS (Holdings) Limited (WNS) (NYSE: WNS), a leading provider of global Business Process Management (BPM) services, today announced results for the fiscal 2019 first quarter ended June 30, 2018.
     

    Highlights – Fiscal 2019 First Quarter:

    GAAP Financials

    • Revenue of $199.8 million, up 10.9% from $180.1 million in Q1 of last year and down 1.4% from $202.7 million last quarter

    • Profit of $22.4 million, compared to $16.7 million in Q1 of last year and $24.5 million last quarter

    • Diluted earnings per ADS of $0.42, compared to $0.32 in Q1 of last year and $0.47 last quarter

    Non-GAAP Financial Measures*

    • Revenue less repair payments of $196.0 million, up 11.8% from $175.3 million in Q1 of last year and down 1.1% from $198.2 million last quarter

    • Adjusted Net Income (ANI) of $30.9 million, compared to $23.6 million in Q1 of last year and $33.0 million last quarter

    • Adjusted diluted earnings per ADS of $0.59, compared to $0.45 in Q1 of last year and $0.63 last quarter

    Other Metrics

    • Added 6 new clients in the quarter, expanded 16 existing relationships

    • Days sales outstanding (DSO) at 31 days

    • Global headcount of 38,227 as of June 30, 2018


    Reconciliations of the non-GAAP financial measures discussed below to our GAAP operating results are included at the end of this release. See also “About Non-GAAP Financial Measures.”
     
    Revenue in the first quarter was $199.8 million, representing a 10.9% increase versus Q1 of last year and a 1.4% decrease from the previous quarter. Revenue less repair payments* in the first quarter was $196.0 million, an increase of 11.8% year-over-year and a 1.1% decline sequentially. Excluding exchange rate impacts, constant currency revenue less repair payments* in the fiscal first quarter grew 10.3% versus Q1 of last year and 0.6% sequentially. Year-over-year, fiscal Q1 revenue improvement was driven by healthy organic growth across key verticals, services, and geographies, and favorability from currency net of hedging. Sequentially, organic revenue growth was more than offset by contractual productivity commitments for clients and currency movements net of hedging.
     
    Operating margin in the first quarter was 12.6%, as compared to 11.0% in Q1 of last year and 14.5% in the previous quarter. On a year-over-year basis, margin improvement was the result of increased productivity, operating leverage on higher volumes, and currency movements net of hedging. These benefits more than offset the impact of our annual wage increases and lower seat utilization. Sequentially, margins reduced due to the impact of our annual wage increases, advance hiring and infrastructure buildout for project ramps, and higher share-based compensation expense. These headwinds more than offset favorable currency movements net of hedging.
     
    First quarter adjusted operating margin* was 18.8%, versus 17.1% in Q1 of last year and 20.4% last quarter. On a year-over-year basis, adjusted operating margin* improved due to increased productivity, operating leverage on higher volumes, and currency movements net of hedging. These benefits were partially offset by the impact of our annual wage increases and lower seat utilization. Sequentially, adjusted operating margin* reduced due to the impact of our annual wage increases, and advance hiring and infrastructure buildout for project ramps. These headwinds more than offset favorable currency movements net of hedging.
     
    Profit in the fiscal first quarter was $22.4 million, as compared to $16.7 million in Q1 of last year and $24.5 million in the previous quarter. Adjusted net income (ANI)* in Q1 was $30.9 million, up $7.3 million as compared to Q1 of last year and down $2.1 million from the previous quarter. In addition to the explanations discussed above, fiscal first quarter profit and adjusted net income* improved by $0.9 million resulting from a one-time tax reversal.
     
    From a balance sheet perspective, WNS ended Q1 with $193.3 million in cash and investments and $89.2 million of debt. In the first quarter, the company generated $14.7 million in cash from operations, had $9.2 million in capital expenditures, and repurchased 450,300 ADSs at an average price of $51.82 per ADS, impacting Q1 cash by $23.0 million dollars. Days sales outstanding were 31 days, as compared to 30 days reported in Q1 of last year and 30 days in the previous quarter. 
     
    “In the fiscal first quarter, WNS continued to generate solid financial performance, growing revenue less repair payments* 12% year-over-year. Excluding the impact of currency movements and hedging, year-over-year first quarter top line improved by more than 10% on a constant currency* basis – all of which was organic,” said Keshav Murugesh, WNS’s Chief Executive Officer. “We are increasingly deploying technology and automation in our solutions, and working to attract, retain and retrain our resources for the changing BPM landscape. WNS remains focused on leveraging deep domain expertise, technology and automation, advanced analytics, and a customer-centric approach to enable our clients’ success.”
     
    Fiscal 2019 Guidance
     

    WNS is updating guidance for the fiscal year ending March 31, 2019 as follows:

    • Revenue less repair payments* is expected to be between $777 million and $821 million, up from $741.0 million in fiscal 2018. This assumes an average GBP to USD exchange rate of 1.32 for the remainder of fiscal 2019.

    • ANI* is expected to range between $118 million and $128 million versus $118.4 million in fiscal 2018. This assumes an average USD to INR exchange rate of 68.5 for the remainder of fiscal 2019.

    • Based on a diluted share count of 52.8 million shares, the company expects adjusted diluted earnings* per ADS to be in the range of $2.23 to $2.42 versus $2.24 in fiscal 2018.

    “The company has updated our forecast for fiscal 2019 based on current visibility levels and exchange rates,” said Sanjay Puria, WNS’s Chief Financial Officer. “Our guidance for the year reflects growth in revenue less repair payments* of 5% to 11%, or 7% to 13% on a constant currency* basis. We currently have 95% visibility to the midpoint of the range.”

    Conference Call

    WNS will host a conference call on July 19, 2018 at 8:00 am (Eastern) to discuss the company's quarterly results. To participate in the call, please use the following details: +1-888-656-9018; international dial-in +1-503-343-6030; participant passcode 8939945. A replay will be available for one week following the call at +1-855-859-2056; international dial-in +1-404-537-3406; passcode 8939945, as well as on the WNS website, www.wns.com, beginning two hours after the end of the call.

    About WNS

    WNS (Holdings) Limited (NYSE: WNS), is a leading global business process management company. WNS offers business value to 350+ global clients by combining operational excellence with deep domain expertise in key industry verticals including Travel, Insurance, Banking and Financial Services, Manufacturing, Retail and Consumer Packaged Goods, Shipping and Logistics, Healthcare and Utilities. WNS delivers an entire spectrum of business process management services such as finance and accounting, customer interaction services, technology solutions, research and analytics and industry specific back office and front office processes. As of June 30, 2018, WNS had 38,227 professionals across 55 delivery centers worldwide including China, Costa Rica, India, Philippines, Poland, Romania, South Africa, Sri Lanka, Turkey, United Kingdom and the United States. For more information, visit www.wns.com.

    Safe Harbor Statement

    This release contains forward-looking statements, as defined in the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current expectations and assumptions about our Company and our industry. Generally, these forward-looking statements may be identified by the use of terminology such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “will,” “seek,” “should” and similar expressions. These statements include, among other things, the discussions of our strategic initiatives and the expected resulting benefits, our growth opportunities, industry environment, expectations concerning our future financial performance and growth potential, including our fiscal 2019 guidance, future profitability, and expected foreign currency exchange rates. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include but are not limited to worldwide economic and business conditions; political or economic instability in the jurisdictions where we have operations; our dependence on a limited number of clients in a limited number of industries; regulatory, legislative and judicial developments; increasing competition in the BPM industry; technological innovation; telecommunications or technology disruptions; our ability to attract and retain clients; our liability arising from fraud or unauthorized disclosure of sensitive or confidential client and customer data; negative public reaction in the US or the UK to offshore outsourcing; our ability to expand our business or effectively manage growth; our ability to hire and retain enough sufficiently trained employees to support our operations; the effects of our different pricing strategies or those of our competitors; our ability to successfully consummate, integrate and achieve accretive benefits from our strategic acquisitions, and to successfully grow our revenue and expand our service offerings and market share; and future regulatory actions and conditions in our operating areas. These and other factors are more fully discussed in our most recent annual report on Form 20-F and subsequent reports on Form 6-K filed with or furnished to the US Securities and Exchange Commission (SEC) which are available at www.sec.gov. We caution you not to place undue reliance on any forward-looking statements. Except as required by law, we do not undertake to update any forward-looking statements to reflect future events or circumstances.
     
    References to “$” and “USD” refer to the United States dollars, the legal currency of the United States; references to “GBP” refer to the British pound, the legal currency of Britain; and references to “INR” refer to Indian Rupees, the legal currency of India. References to GAAP refers to International Financial Reporting Standards, as issued by the International Accounting Standards Board (IFRS).
     


    * See “About Non-GAAP Financial Measures” and the reconciliations of the historical non-GAAP financial measures to our GAAP operating results at the end of this release.
     

    WNS (HOLDINGS) LIMITED
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited, amounts in millions, except share and per share data)

          Three months ended  
          Jun 30,
    2018
        Jun 30,
    2017
        Mar 31,
    2018
       
    Revenue     $ 199.8     $ 180.1   $ 202.7    
    Cost of revenue       132.9       124.7     128.4    
    Gross profit       66.9       55.4     74.3    
    Operating expenses:                          
    Selling and marketing expenses
          11.1       9.0     11.8    
    General and administrative expenses
          27.9       27.5     30.5    
    Foreign exchange loss / (gain), net
          (1.3)       (4.8)     (1.4)    
    Amortization of intangible assets
          3.9       3.9     4.0    
    Operating profit       25.3       19.8     29.4    
    Other (income) / expenses, net       (3.3)       (2.8)     (3.6)    
    Finance expense       0.8       1.1     1.1    
    Profit before income taxes       27.8       21.4     31.8    
    Provision for income taxes       5.4       4.7     7.3    
    Profit      $ 22.4     $ 16.7   $ 24.5    
                               
    Earnings per share of ordinary share                          
    Basic     $ 0.44     $ 0.33   $ 0.49    
    Diluted     $ 0.42     $ 0.32   $ 0.47    
                               
     
    WNS (HOLDINGS) LIMITED
    CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
    (Unaudited, amounts in millions, except share and per share data)
     
        As at Jun 30,
    2018
        As at Mar 31,
    2018
     
    ASSETS                
    Current assets:                
    Cash and cash equivalents
      $ 66.1     $ 99.8  
    Investments
        48.3       121.0  
    Trade receivables, net
        72.2       71.4  
    Unbilled revenue
        64.2       61.7  
    Funds held for clients
        8.3       10.1  
    Derivative assets
        5.7       11.7  
    Prepayments and other current assets
        22.4       24.8  
    Total current assets     287.2       400.5  
                     
    Non-current assets:                
    Goodwill
        131.5                  135.2  
    Intangible assets
        85.5                    89.7  
    Property and equipment
        59.8                    60.6  
    Derivative assets
        2.1                      3.2  
    Investments
        78.9                       0.5  
    Deferred tax assets
        25.5                     27.4  
    Other non-current assets
        50.3                    42.4  
    Total non-current assets     433.5                  359.0  
    TOTAL ASSETS   $ 720.7     $              759.6  
                     
    LIABILITIES AND EQUITY                
    Current liabilities:                
    Trade payables
      $ 16.8     $  19.7  
    Provisions and accrued expenses
        26.5         28.8  
    Derivative liabilities
        11.3          6.5  
    Pension and other employee obligations
        43.4          64.6  
    Current portion of long term debt
                  27.8          27.7  
    Contract liabilities
         2.8          2.9  
    Current taxes payable
                   1.9         1.3  
    Other liabilities
                 19.9       15.7  
    Total current liabilities              150.5       167.3  
    Non-current liabilities:                
    Derivative liabilities
        2.3       2.3  
    Pension and other employee obligations
        9.9       9.6  
    Long term debt
        61.5       61.4  
    Contract liabilities
        0.5       0.6  
    Other non-current liabilities
        10.2       11.7  
    Deferred tax liabilities
        11.7       11.8  
    Total non-current liabilities     96.1       97.3  
    TOTAL LIABILITIES   $ 246.6     $ 264.6  
    Shareholders' equity:                
    Share capital (ordinary shares $ 0.16 (10 pence) par value, authorized 60,000,000 shares; issued: 55,323,080 and 54,834,080 shares; each as at June 30, 2018 and March 31, 2018, respectively)
        8.6       8.5  
    Share premium
        380.2       371.8  
    Retained earnings
        395.1       364.4  
    Other components of equity
        (152.2)       (115.5)  
    Total shareholders’ equity including shares held in treasury   $ 631.7     $ 629.2  
    Less: 4,850,300 shares as at June 30, 2018 and 4,400,000 shares as at March 31, 2018, held in treasury, at cost
        (157.6)       (134.2)  
        Total shareholders’ equity   $ 474.1     $ 495.0  
    TOTAL LIABILITIES AND EQUITY   $ 720.7     $ 759.6  

    About Non-GAAP Financial Measures

    The financial information in this release includes certain non-GAAP financial measures that we believe more accurately reflect our core operating performance. Reconciliations of these non-GAAP financial measures to our GAAP operating results are included below. A more detailed discussion of our GAAP results is contained in “Part I –Item 5. Operating and Financial Review and Prospects” in our annual report on Form 20-F filed with the SEC on May 16, 2018.
     
    For financial statement reporting purposes, WNS has two reportable segments: WNS Global BPM and WNS Auto Claims BPM. Revenue less repair payments is a non-GAAP financial measure that is calculated as (a) revenue less (b) in the auto claims business, payments to repair centers for “fault” repair cases where WNS acts as the principal in its dealings with the third party repair centers and its clients. WNS believes that revenue less repair payments for “fault” repairs reflects more accurately the value addition of the business process management services that it directly provides to its clients. For more details, please see the discussion in “Part I – Item 5. Operating and Financial Review and Prospects – Overview” in our annual report on Form 20-F filed with the SEC on May 16, 2018.
     
    Constant currency revenue less repair payments is a non-GAAP financial measure. We present constant currency revenue less repair payments so that revenue less repair payments may be viewed without the impact of foreign currency exchange rate fluctuations, thereby facilitating period-to-period comparisons of business performance. Constant currency revenue less repair payments is presented by recalculating prior period’s revenue less repair payments denominated in currencies other than in US dollars using the foreign exchange rate used for the latest period, without taking into account the impact of hedging gains/losses. Our non-US dollar denominated revenues include, but are not limited to, revenues denominated in pound sterling, South African rand, Australian dollar and Euro.
     
    WNS also presents (1) adjusted operating margin, which refers to adjusted operating profit (calculated as operating profit / (loss) excluding share-based expense and amortization of intangible assets) as a percentage of revenue less repair payments, and (2) ANI, which is calculated as profit excluding share-based expense and amortization of intangible assets and including the tax effect thereon, and other non-GAAP financial measures included in this release as supplemental measures of its performance. WNS presents these non-GAAP financial measures because it believes they assist investors in comparing its performance across reporting periods on a consistent basis by excluding items that are non-recurring in nature and those it believes are not indicative of its core operating performance. In addition, it uses these non-GAAP financial measures (i) as a factor in evaluating management’s performance when determining incentive compensation and (ii) to evaluate the effectiveness of its business strategies. These non-GAAP financial measures are not meant to be considered in isolation or as a substitute for WNS’s financial results prepared in accordance with IFRS.
     
    The company is not able to provide our forward-looking GAAP revenue, profit and earnings per ADS without unreasonable efforts for a number of reasons, including our inability to predict with a reasonable degree of certainty the payments to repair centers, our future share-based compensation expense under IFRS 2 (Share Based payments), amortization of intangibles associated with future acquisitions and currency fluctuations. As a result, any attempt to provide a reconciliation of the forward-looking GAAP financial measures (revenue, profit, earnings per ADS) to our forward-looking non-GAAP financial measures (revenue less repair payments*, ANI* and Adjusted diluted earnings* per ADS respectively) would imply a degree of likelihood that we do not believe is reasonable. 

    Reconciliation of revenue (GAAP) to revenue less repair payments (non-GAAP) and constant currency revenue less repair payments (non-GAAP)
     
        Three months ended  
    Three months ended
    Jun 30, 2018 compared to
        Jun 30, 2018     Jun 30, 2017     Mar 31, 2018     Jun 30,
    2017
      Mar 31,
    2018
        (Amounts in millions)   (% growth)
    Revenue (GAAP)   $ 199.8     $ 180.1     $ 202.7  
     
        10.9%   (1.4)%  
    Less: Payments to repair centers     3.7       4.8       4.5       (22.8)%   (16.7)%  
    Revenue less repair payments (Non-GAAP)   $ 196.0     $ 175.3     $ 198.2       11.8%   (1.1)%  
    Exchange rate impact     (0.8)       1.6       (4.1)              
    Constant currency revenue less
    repair payments (Non-GAAP)
      $ 195.2     $ 176.9     $ 194.1       10.3%   0.6%  

    Reconciliation of cost of revenue (GAAP to non-GAAP)
     
        Three months ended  
        Jun 30,
    2018
      Jun 30,
    2017
         Mar 31,
    2018
     
        (Amounts in millions)  
    Cost of revenue (GAAP)   $ 132.9     $ 124.7     $ 128.4    
    Less: Payments to repair centers     3.7       4.8       4.5    
    Less: Share-based compensation expense     1.0       0.8       0.8    
    Adjusted cost of revenue (excluding payment to repair centers and share-based compensation expense) (Non-GAAP)   $ 128.1     $ 119.1     $ 123.2    

    Reconciliation of gross profit (GAAP to non-GAAP)
     
        Three months ended  
        Jun 30,
    2018
      Jun 30,
    2017
         Mar 31,
    2018
     
        (Amounts in millions)  
    Gross profit (GAAP)   $ 66.9     $ 55.4     $ 74.3    
    Add: Share-based compensation expense     1.0       0.8       0.8    
    Adjusted gross profit (excluding share-based compensation expense) (Non-GAAP)   $ 67.9     $ 56.2     $ 75.1    
     
        Three months ended  
        Jun 30,
    2018
      Jun 30,
    2017
         Mar 31,
    2018
     
    Gross profit as a percentage of revenue (GAAP)     33.5%       30.7%       36.7%    
    Adjusted gross profit (excluding share-based compensation expense) as a percentage of revenue less repair payments (Non-GAAP)     34.6%       32.0%       37.9%    

    Reconciliation of selling and marketing expenses (GAAP to non-GAAP)
     
        Three months ended  
        Jun 30,
    2018
      Jun 30,
    2017
         Mar 31,
    2018
     
        (Amounts in millions)  
    Selling and marketing expenses (GAAP)   $ 11.1     $ 9.0     $ 11.8    
    Less: Share-based compensation expense     0.7       0.5       0.6    
    Adjusted selling and marketing expenses (excluding share-based compensation expense) (Non-GAAP)   $ 10.4     $ 8.5     $ 11.3    
     
        Three months ended  
        Jun 30,
    2018
      Jun 30,
    2017
         Mar 31,
    2018
     
    Selling and marketing expenses as a percentage of revenue (GAAP)     5.6%       5.0%       5.8%    
    Adjusted selling and marketing expenses (excluding share-based compensation expense) as a percentage of revenue less repair payments (Non-GAAP)     5.3%       4.8%       5.7%    
     
    Reconciliation of general and administrative expenses (GAAP to non-GAAP)    
     
        Three months ended  
        Jun 30,
    2018
      Jun 30,
    2017
         Mar 31,
    2018
     
        (Amounts in millions)  
    General and administrative expenses (GAAP)   $ 27.9     $ 27.5     $ 30.5    
    Less: Share-based compensation expense     5.9       5.1       5.8    
    Adjusted general and administrative expenses (excluding share-based compensation expense) (Non-GAAP)   $ 22.0     $ 22.4     $ 24.8    
     
        Three months ended  
        Jun 30,
    2018
      Jun 30,
    2017
         Mar 31,
    2018
     
    General and administrative expenses as a percentage of revenue (GAAP)     14.0%       15.3%       15.1%    
    Adjusted general and administrative expenses (excluding share-based compensation expense) as a percentage of revenue less repair payments (Non-GAAP)     11.2%       12.8%       12.5%    

    Reconciliation of operating profit / (loss) (GAAP to non-GAAP)
     
        Three months ended  
        Jun 30,
    2018
      Jun 30,
    2017
         Mar 31,
    2018
     
        (Amounts in millions)  
    Operating profit (GAAP)   $ 25.3     $ 19.8     $ 29.4    
    Add: Share-based compensation expense     7.7       6.4       7.1    
    Add: Amortization of intangible assets     3.9       3.9       4.0    
    Adjusted operating profit (excluding share-based
    compensation expense and amortization of intangible assets)
    (Non-GAAP)
      $ 36.8     $ 30.0     $ 40.4    
     
        Three months ended  
        Jun 30,
    2018
      Jun 30,
    2017
         Mar 31,
    2018
     
    Operating profit as a percentage of revenue (GAAP)     12.6%       11.0%       14.5%    
    Adjusted operating profit (excluding share-based compensation expense and amortization of intangible assets) as a percentage
    of revenue less repair payments (Non-GAAP)
        18.8%       17.1%       20.4%    

    Reconciliation of profit / (loss) (GAAP) to ANI (non-GAAP)
     
        Three months ended  
        Jun 30,
    2018
      Jun 30,
    2017
         Mar 31,
    2018
     
        (Amounts in millions)  
    Profit (GAAP)   $ 22.4     $ 16.7     $ 24.5    
    Add: Share-based compensation expense     7.7       6.4       7.1    
    Add: Amortization of intangible assets     3.9       3.9       4.0    
    Less: Tax impact on share-based compensation expense(1)     (2.2)       (2.1)       (1.3)    
    Less: Tax impact on amortization of intangible assets(1)     (0.9)       (1.3)       (1.2)    
    Adjusted Net Income (excluding share-based compensation expense and amortization of intangible assets, including tax effect thereon) (Non GAAP)   $ 30.9     $ 23.6     $ 33.0    
     
    (1) The company applies GAAP methodologies in computing the tax impact on its non-GAAP ANI adjustments (including amortization of intangible assets and share-based compensation expense). The company’s non-GAAP tax expense is generally higher than its GAAP tax expense if the income subject to taxes is higher considering the effect of the items excluded from GAAP profit to arrive at non-GAAP profit. 
     
        Three months ended
        Jun 30,
    2018
      Jun 30,
    2017
         Mar 31,
    2018
    Profit as a percentage of revenue (GAAP)     11.2%       9.3%       12.1%  
    Adjusted net income (excluding share-based compensation
    expense and amortization of intangible assets including tax
    effect thereon) as a percentage of revenue less repair payments (Non-GAAP)
        15.7%       13.5%       16.6%  

    Reconciliation of basic income per ADS (GAAP to non-GAAP)
     
        Three months ended
        Jun 30,
    2018
      Jun 30,
    2017
         Mar 31,
    2018
    Basic earnings per ADS (GAAP)   $ 0.44     $ 0.33     $ 0.49  
    Add: Adjustments for share-based compensation expense and amortization of intangible assets     0.23       0.21       0.21  
    Less: Tax impact on share-based compensation expense and amortization of intangible assets     0.06       0.07       0.05  
    Adjusted basic net income per ADS (excluding share-based compensation expenses and amortization of intangible assets, including tax effect thereon) (Non-GAAP)   $ 0.61     $ 0.47     $ 0.65  

    Reconciliation of diluted income per ADS (GAAP to non-GAAP)
     
        Three months ended
        Jun 30,
    2018
      Jun 30,
    2017
         Mar 31,
    2018
    Diluted earnings per ADS (GAAP)   $ 0.42     $ 0.32     $ 0.47  
    Add: Adjustments for share-based compensation expense and amortization of intangible assets      0.23       0.19       0.21  
    Less: Tax impact on share-based compensation expense and amortization of intangible assets     0.06       0.06       0.05  
    Adjusted diluted net income per ADS (excluding amortization of intangible assets and share-based compensation expense, including tax effect thereon) (Non-GAAP)   $ 0.59     $ 0.45     $ 0.63  


    0 0

    Business Wire India

     

     

    NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933) OR IN OR INTO JAPAN, THE PEOPLE’S REPUBLIC OF CHINA, SWITZERLAND OR ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW.

     

    Following the placement on 17 July 2018, JPMorgan Chase Bank, N.A. today announces the initial exchange price of the cash-settled exchangeable bonds due 2020 (the “Bonds”) in aggregate principal amount of USD 350 million, referable to H-shares of Ping An Insurance (Group) Company of China Limited (the “Shares”).

     

    The initial exchange price of the Bonds has been set at HKD82.1720, representing a 16% premium over the share reference price of HKD70.8379, which was determined in the manner described in the press announcements released on 17 July 2018.

     

    Settlement and delivery of the Bonds is expected to take place on 20 July 2018.

     

    The Bonds are expected to be rated “Aa3” by Moody’s Investors Services, Inc. (“Moody’s”).

     

    About JPMorgan Chase

     

    JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. JPMorgan Chase & Co. is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

     

    Further Information
    Marie Cheung
    Tel.: +852 2800 1303
    Email: Marie.W.Cheung@jpmorgan.com

     

    Patrick Burton
    Tel.: +44 (0) 207 134 9041
    Email: patrick.o.burton@jpmorgan.com

     

    IMPORTANT NOTICE

     

    NO ACTION HAS BEEN TAKEN BY THE ISSUER, THE SOLE BOOKRUNNER OR ANY OF THEIR RESPECTIVE AFFILIATES THAT WOULD PERMIT AN OFFERING OF THE BONDS OR POSSESSION OR DISTRIBUTION OF THIS PRESS RELEASE OR ANY OFFERING OR PUBLICITY MATERIAL RELATING TO THE BONDS IN ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE IS REQUIRED. PERSONS INTO WHOSE POSSESSION THIS PRESS RELEASE COMES ARE REQUIRED BY THE ISSUER AND THE SOLE BOOKRUNNER TO INFORM THEMSELVES ABOUT, AND TO OBSERVE, ANY SUCH RESTRICTIONS.

     

    A CREDIT RATING IS NOT A RECOMMENDATION TO BUY, SELL OR HOLD SECURITIES AND MAY BE SUBJECT TO REVISION, QUALIFICATION, SUSPENSION, REDUCTION OR WITHDRAWAL AT ANY TIME BY THE ASSIGNING RATING AGENCY. THE BONDS ARE EXPECTED TO BE RATED BY MOODY’S AND THERE IS NO ASSURANCE THAT A RATING WILL BE GIVEN OR THAT THE BONDS WILL BE RATED AT ANY TIME. IN ADDITION, CREDIT RATING AGENCIES MAY CHANGE THEIR METHODOLOGY FOR ASSIGNING RATINGS AT ANY TIME. PROSPECTIVE INVESTORS SHOULD EVALUATE ANY RATING OF THE BONDS INDEPENDENTLY OF ANY OTHER RATING OF OTHER SECURITIES OF THE ISSUER OR THE COMPANY OR ANY RATING OF THE ISSUER OR THE COMPANY.

     

    THIS PRESS RELEASE IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S). ANY TERM SHEET PRODUCED IN CONNECTION WITH THE BONDS SHALL NOT BE AN OFFER TO SELL SECURITIES OR THE SOLICITATION OF ANY OFFER TO BUY SECURITIES, NOR SHALL THERE BE ANY OFFER OF SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER OR SALE WOULD BE UNLAWFUL.

     

    THE BONDS DESCRIBED IN THIS PRESS RELEASE ARE NOT REQUIRED TO BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR WITH ANY SECURITIES REGULATORY AUTHORITY OF ANY STATE OR OTHER JURISDICTION OF THE UNITED STATES. IN ADDITION, THE BONDS HAVE NOT BEEN REGISTERED UNDER THE REGULATIONS OF THE U.S. COMPTROLLER OF THE CURRENCY (“COMPTROLLER'S REGULATIONS”) RELATING TO SECURITIES OFFERINGS BY NATIONAL BANKS (12 C.F.R. PART 16). THE BONDS MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION.

     

    THE BONDS, WHEN OFFERED, WILL BE OFFERED AND SOLD OUTSIDE THE UNITED STATES IN COMPLIANCE WITH REGULATION S, AS SUCH REGULATION IS INCORPORATED INTO THE COMPTROLLER’S REGULATIONS BY 12 C.F.R. SECTION 16.5(G). THE BONDS MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (I) AS PART OF THEIR DISTRIBUTION AT ANY TIME OR (II) UNTIL 40 DAYS AFTER COMPLETION OF THE DISTRIBUTION OF BONDS, EXCEPT IN EITHER CASE IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT, AS SUCH REGULATION IS INCORPORATED INTO THE COMPTROLLER'S REGULATIONS BY 12 C.F.R. SECTION 16.5(G). TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM BY REGULATION S.

     

    THIS PRESS RELEASE AND THE OFFERING WHEN MADE ARE ONLY ADDRESSED TO, AND DIRECTED IN MEMBER STATES OF THE EUROPEAN ECONOMIC AREA (THE “EEA”), AT PERSONS WHO ARE “QUALIFIED INVESTORS” WITHIN THE MEANING OF ARTICLE 2(1)(E) OF THE PROSPECTUS DIRECTIVE (“QUALIFIED INVESTORS”). FOR THESE PURPOSES, THE EXPRESSION "PROSPECTUS DIRECTIVE" MEANS DIRECTIVE 2003/71/EC, AS AMENDED.

     

    THE BONDS WILL NOT AND MAY NOT BE OFFERED OR SOLD IN HONG KONG, BY MEANS OF ANY DOCUMENT, OTHER THAN (A) TO “PROFESSIONAL INVESTORS” AS DEFINED IN THE SECURITIES AND FUTURES ORDINANCE (CHAPTER 571 OF THE LAWS OF HONG KONG) (THE “SFO”) AND ANY RULES MADE UNDER THAT ORDINANCE; OR (B) IN OTHER CIRCUMSTANCES WHICH DO NOT RESULT IN ANY DOCUMENT BEING A “PROSPECTUS” AS DEFINED IN THE COMPANIES (WINDING UP AND MISCELLANEOUS PROVISIONS) ORDINANCE (CHAPTER 32 OF THE LAWS OF HONG KONG) OR WHICH DO NOT CONSTITUTE AN OFFER TO THE PUBLIC WITHIN THE MEANING OF THAT ORDINANCE. ANY TERM SHEET PRODUCED IN CONNECTION WITH THE BONDS SHALL NOT CONSTITUTE AN ADVERTISEMENT, INVITATION OR DOCUMENT RELATING TO THE BONDS WHICH IS DIRECTED AT, AND THE CONTENTS OF WHICH ARE NOT INTENDED TO BE ACCESSED OR READ BY, THE PUBLIC IN HONG KONG (EXCEPT IF PERMITTED TO DO SO UNDER THE SECURITIES LAWS OF HONG KONG) OTHER THAN WITH RESPECT TO THE BONDS WHICH ARE OR ARE INTENDED TO BE DISPOSED OF ONLY TO PERSONS OUTSIDE HONG KONG OR ONLY TO “PROFESSIONAL INVESTORS” AS DEFINED IN THE SFO AND ANY RULES MADE UNDER THAT ORDINANCE.

     

    THE BONDS HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE FINANCIAL INSTRUMENTS AND EXCHANGE ACT OF JAPAN (ACT NO. 25 OF 1948, AS AMENDED, THE “FINANCIAL INSTRUMENTS AND EXCHANGE ACT”). ACCORDINGLY, THE BONDS MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN JAPAN OR TO, OR FOR THE BENEFIT OF, ANY RESIDENT OF JAPAN (WHICH TERM AS USED HEREIN MEANS ANY PERSON RESIDENT IN JAPAN, INCLUDING ANY CORPORATION OR OTHER ENTITY ORGANISED UNDER THE LAWS OF JAPAN) OR TO OTHERS FOR RE-OFFERING OR RE-SALE, DIRECTLY OR INDIRECTLY, IN JAPAN OR TO, OR FOR THE BENEFIT OF, ANY RESIDENT OF JAPAN EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF, AND OTHERWISE IN COMPLIANCE WITH, THE FINANCIAL INSTRUMENTS AND EXCHANGE ACT AND OTHER RELEVANT LAWS AND REGULATIONS OF JAPAN.

     

    THE BONDS ARE NOT BEING OFFERED OR SOLD AND MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE PEOPLE’S REPUBLIC OF CHINA (FOR SUCH PURPOSES, NOT INCLUDING THE HONG KONG AND MACAU SPECIAL ADMINISTRATIVE REGIONS OR TAIWAN, THE “PRC”), EXCEPT AS PERMITTED BY THE SECURITIES LAWS OF THE PRC.

     

    THE BONDS ARE NOT INTENDED TO BE OFFERED, SOLD OR OTHERWISE MADE AVAILABLE TO AND SHOULD NOT BE OFFERED, SOLD OR OTHERWISE MADE AVAILABLE TO ANY RETAIL INVESTOR IN THE EEA. FOR THESE PURPOSES, A RETAIL INVESTOR MEANS A PERSON WHO IS ONE (OR MORE) OF: (I) A RETAIL CLIENT AS DEFINED IN POINT (11) OF ARTICLE 4(1) OF MIFID II; OR (II) A CUSTOMER WITHIN THE MEANING OF DIRECTIVE 2002/92/EC, WHERE THAT CUSTOMER WOULD NOT QUALIFY AS A PROFESSIONAL CLIENT AS DEFINED IN POINT (10) OF ARTICLE 4(1) OF MIFID II. CONSEQUENTLY, NO KEY INFORMATION DOCUMENT REQUIRED BY REGULATION (EU) NO 1286/2014, AS AMENDED (THE "PRIIPS REGULATION") FOR OFFERING OR SELLING THE BONDS OR OTHERWISE MAKING THEM AVAILABLE TO RETAIL INVESTORS IN THE EEA HAS BEEN PREPARED AND THEREFORE OFFERING OR SELLING THE BONDS OR OTHERWISE MAKING THEM AVAILABLE TO ANY RETAIL INVESTOR IN THE EEA MAY BE UNLAWFUL UNDER THE PRIIPS REGULATION.

     

    IN ADDITION, IN THE UNITED KINGDOM THIS PRESS RELEASE IS BEING DISTRIBUTED ONLY TO, AND IS DIRECTED ONLY AT, QUALIFIED INVESTORS (I) WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005, AS AMENDED (THE “ORDER”) AND QUALIFIED INVESTORS FALLING WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER, AND (II) TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS “RELEVANT PERSONS”). THIS PRESS RELEASE MUST NOT BE ACTED ON OR RELIED ON (I) IN THE UNITED KINGDOM, BY PERSONS WHO ARE NOT RELEVANT PERSONS, AND (II) IN ANY MEMBER STATE OF THE EEA OTHER THAN THE UNITED KINGDOM, BY PERSONS WHO ARE NOT QUALIFIED INVESTORS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS PRESS RELEASE RELATES IS AVAILABLE ONLY TO (A) RELEVANT PERSONS IN THE UNITED KINGDOM AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS IN THE UNITED KINGDOM AND (B) QUALIFIED INVESTORS IN MEMBER STATES OF THE EEA (OTHER THAN THE UNITED KINGDOM).

     

    ANY DECISION TO PURCHASE ANY OF THE BONDS SHOULD ONLY BE MADE ON THE BASIS OF AN INDEPENDENT REVIEW BY A PROSPECTIVE INVESTOR OF THE ISSUER’S AND THE COMPANY’S PUBLICLY AVAILABLE INFORMATION. NEITHER THE SOLE BOOKRUNNER NOR ANY OF ITS AFFILIATES ACCEPT ANY LIABILITY ARISING FROM THE USE OF, OR MAKE ANY REPRESENTATION AS TO THE ACCURACY OR COMPLETENESS OF, THIS PRESS RELEASE OR THE ISSUER’S AND THE COMPANY’S PUBLICLY AVAILABLE INFORMATION. THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS SUBJECT TO CHANGE IN ITS ENTIRETY WITHOUT NOTICE UP TO THE ISSUE DATE.

     

    THE SECURITIES ARE NOT READILY LIQUID INSTRUMENTS. THE SOLE BOOKRUNNER OR ANY OF ITS AFFILIATES MAY BUT SHALL HAVE NO OBLIGATION TO MAKE A SECONDARY MARKET FOR THE SALE AND PURCHASE OF THE SECURITIES. ALTHOUGH THE DEALER OR ITS AFFILIATES WILL TRY TO PROVIDE PRICING OR OFFER UNWIND FACILITIES, THERE MAY EXIST A TIME WHEN THERE IS A LACK OF LIQUIDITY OR LOW TRADING VOLUME IN THE MARKET FOR THE SECURITIES, WHICH COULD RESULT IN A DECREASE OF THE MARKET VALUE OF THE SECURITIES. IN THE EVENT THAT THE DEALER OR ITS AFFILIATES MAKES A SECONDARY MARKET, IT IS NOT A COMMITMENT TO PURCHASE ANY SECURITY AT A PARTICULAR TIME OR PRICE AND THE DEALER OR ITS AFFILIATES MAY SUSPEND OR TERMINATE MARKET MAKING AT ANY TIME, AT ITS OWN DISCRETION AND WITHOUT NOTICE TO THE HOLDERS. IF THE SECURITIES ARE EARLY REDEEMED PRIOR TO THE MATURITY DATE OR EARLY REDEMPTION DATE (IF APPLICABLE), THE HOLDER OF A SECURITIES MAY SUFFER A HIGHER LOSS OR SIGNIFICANTLY SMALLER GAIN ON THE PRINCIPAL INVESTED, AND MAY ALSO SUFFER SIGNIFICANT UNWIND COSTS AND WIDE BID OFFER SPREADS. EACH PROSPECTIVE INVESTOR SHOULD PROCEED ON THE ASSUMPTION THAT IT MUST BEAR THE ECONOMIC RISK OF AN INVESTMENT IN THE BONDS OR THE SHARES NOTIONALLY UNDERLYING THE BONDS (TOGETHER WITH THE BONDS, THE “SECURITIES”). NEITHER OF THE ISSUER NOR THE SOLE BOOKRUNNER MAKES ANY REPRESENTATION AS TO (I) THE SUITABILITY OF THE SECURITIES FOR ANY PARTICULAR INVESTOR, (II) THE APPROPRIATE ACCOUNTING TREATMENT AND POTENTIAL TAX CONSEQUENCES OF INVESTING IN THE SECURITIES OR (III) THE FUTURE PERFORMANCE OF THE SECURITIES EITHER IN ABSOLUTE TERMS OR RELATIVE TO COMPETING INVESTMENTS.

     

    THE SOLE BOOKRUNNER IS ACTING ON BEHALF OF THE ISSUER AND NO ONE ELSE IN CONNECTION WITH THE BONDS AND WILL NOT BE RESPONSIBLE TO ANY OTHER PERSON FOR PROVIDING THE PROTECTIONS AFFORDED TO CLIENTS OF THE SOLE BOOKRUNNER OR FOR PROVIDING ADVICE IN RELATION TO THE SECURITIES. IN CONNECTION WITH THE OFFERING OF THE BONDS, THE SOLE BOOKRUNNER AND ANY OF ITS AFFILIATES ACTING AS AN INVESTOR FOR ITS OWN ACCOUNT MAY TAKE UP THE SECURITIES AND IN THAT CAPACITY MAY RETAIN, PURCHASE OR SELL FOR ITS OWN ACCOUNT THE SECURITIES OR ANY OTHER SECURITIES OF THE ISSUER, THE COMPANY OR RELATED INVESTMENTS, MAY OFFER OR SELL THE SECURITIES OR OTHER INVESTMENTS OTHERWISE THAN IN CONNECTION WITH THE OFFERING OF THE BONDS, AND MAY ENTER INTO CONVERTIBLE ASSET SWAPS, CREDIT DERIVATIVES OR OTHER DERIVATIVE TRANSACITONS RELATING TO THE BONDS AND/OR THE UNDERLYING SHARES. AS A RESULT OF SUCH TRANSACTIONS, THE SOLE BOOKRUNNER MAY HOLD LONG OR SHORT POSITIONS IN SUCH BONDS OR DERIVATIVES OR IN THE UNDERLYING SHARES. THE SOLE BOOKRUNNER DOES NOT INTEND TO DISCLOSE THE EXTENT OF ANY SUCH INVESTMENT OR TRANSACTIONS. IN ADDITION, THE SOLE BOOKRUNNER AND ITS SUBSIDIARIES AND AFFILIATES MAY PERFORM SERVICES FOR, OR SOLICIT BUSINESS FROM, THE ISSUER, THE COMPANY OR MEMBERS OF THE ISSUER’S AND THE COMPANY’S RESPECTIVE GROUPS, MAY MAKE MARKETS IN THE SECURITIES OF SUCH PERSONS AND/OR HAVE A POSITION OR EFFECT TRANSACTIONS IN SUCH SECURITIES. EACH POTENTIAL INVESTOR ACKNOWLEDGES THAT THE SOLE BOOKRUNNER AND ITS AFFILIATES MAY FROM TIME TO TIME PERFORM VARIOUS INVESTMENT BANKING AND ADVISORY, BROKERAGE, COMMERCIAL BANKING, FINANCIAL ADVISORY AND FIDUCIARY SERVICES FOR THE COMPANY OR ITS AFFILIATES WHICH MAY HAVE CONFLICTING INTERESTS WITH RESPECT TO ANY POTENTIAL INVESTOR.

     

    EACH OF THE ISSUER AND THE SOLE BOOKRUNNER AND THEIR RESPECTIVE AFFILIATES EXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING TO UPDATE, REVIEW OR REVISE ANY STATEMENT CONTAINED IN THIS PRESS RELEASE WHETHER AS A RESULT OF NEW INFORMATION, FUTURE DEVELOPMENTS OR OTHERWISE.

     

    THE BONDS MAY NOT BE PUBLICLY OFFERED IN SWITZERLAND AND WILL NOT BE LISTED ON THE SIX SWISS EXCHANGE (“SIX”) OR ON ANY OTHER STOCK EXCHANGE OR REGULATED TRADING FACILITY IN SWITZERLAND. THIS PRESS RELEASE DOES NOT CONSTITUTE A PROSPECTUS WITHIN THE MEANING OF, AND HAS BEEN PREPARED WITHOUT REGARD TO THE DISCLOSURE STANDARDS FOR ISSUANCE PROSPECTUSES UNDER ART. 652A OR ART. 1156 OF THE SWISS CODE OF OBLIGATIONS OR THE DISCLOSURE STANDARDS FOR LISTING PROSPECTUSES UNDER ART. 27 FF. OF THE SIX LISTING RULES OR THE LISTING RULES OF ANY OTHER STOCK EXCHANGE OR REGULATED TRADING FACILITY IN SWITZERLAND. NEITHER THIS PRESS RELEASE NOR ANY OTHER OFFERING OR MARKETING MATERIAL RELATING TO THE BONDS OR THE OFFERING MAY BE PUBLICLY DISTRIBUTED OR OTHERWISE MADE PUBLICLY AVAILABLE IN SWITZERLAND. NEITHER THIS PRESS RELEASE NOR ANY OTHER OFFERING OR MARKETING MATERIAL RELATING TO THE OFFERING, THE ISSUER, OR THE BONDS HAVE BEEN OR WILL BE FILED WITH OR APPROVED BY ANY SWISS REGULATORY AUTHORITY. IN PARTICULAR, THIS PRESS RELEASE WILL NOT BE FILED WITH, AND THE OFFER OF BONDS WILL NOT BE SUPERVISED BY, THE SWISS FINANCIAL MARKET SUPERVISORY AUTHORITY FINMA (FINMA), AND THE OFFER OF BONDS HAS NOT BEEN AND WILL NOT BE AUTHORISED UNDER THE SWISS FEDERAL ACT ON COLLECTIVE INVESTMENT SCHEMES ("CISA"). THE INVESTOR PROTECTION AFFORDED TO ACQUIRERS OF INTERESTS IN COLLECTIVE INVESTMENT SCHEMES UNDER THE CISA DOES NOT EXTEND TO ACQUIRERS OF BONDS.

     

     

     

     

    0 0

    Business Wire India

    Cushman & Wakefield, a leading global real estate services firm, today announced it has finalized the acquisition of Inc RE, a top Australian Capital Markets firm specializing in commercial sales, acquisitions and investment advisory. The team will join Cushman & Wakefield’s Capital Markets Australian platform and be part of the company’s global Capital Markets network.

     

    “I am delighted to welcome the Inc RE team to Cushman & Wakefield. Today’s announcement further strengthens our position as a leading Capital Markets firm globally and highlights the power of our brand and culture to attract the best talent. With the combination of our global Capital Markets professionals and the recent acquisition of Inc RE, Cushman & Wakefield is placed to deliver superior results for clients in key markets across the globe,” said Matthew Bouw, Chief Executive Officer, Asia Pacific at Cushman & Wakefield.

     

    Cushman & Wakefield’s Australian Capital Markets practice will be led by Josh Cullen, Inc RE principal. The team will comprise 14 brokers focused on institutional sales, international investments, acquisitions and investment advisory. Cullen will be supported by Rick Butler and leading brokers Steve Kearney and Mark Hansen.

     

    Commenting on this milestone acquisition, James Patterson, Chief Executive, Australia and New Zealand said, “The acquisition complements our local Capital Markets platform and creates momentum for us in the Capital Markets landscape nationally. It provides us with opportunities to accelerate the growth of the company’s broader commercial real estate business, particularly in Asset Services and Agency Leasing. It also complements our occupier business, which is one of the strongest in the country with 70+ contracted accounts.”

     

    Josh Cullen, newly appointed International Director and Head of Capital Markets, Australia and New Zealand, Cushman & Wakefield, said, “The attraction to our business is the Cushman & Wakefield global platform, and more importantly its strong global focus on Capital Markets. The firm’s recent hires have seen them rise to the top in the U.S. and European markets in relatively quick succession. We want to do the same in Asia Pacific and continue to build the Australian business. With the continued globalization of real estate investment capital, we see it as an opportunity to connect Australian clients and investment products to global capital sources.”

     

    In addition to Josh Cullen, Rick Butler, Steve Kearney and Mark Hansen, Claire Zouroudis, Charles Long and Lisa Lee also will join the Cushman & Wakefield Capital Markets practice based in Sydney. Inc RE’s total transactions completed in the span of 18 months total US$2.25 billion.

     

    Notes to editor

     

    Some of Cushman & Wakefield’s recent global transactions include Chelsea Market, NYC, US$2.4bn; LinkReit Shopping Mall Portfolio, Hong Kong, US$2.95bn; One Astor Plaza, NYC, US$1.95bn; Walkie Talkie Building (20 Fenchurch St) London, US$1.7bn; Leadenhall Building, London, US$1.48bn; 8 Bay East, Hong Kong US$1.2bn; Clearwater Bay, Hainan, US$950mn; 80-82 Quai Michelet, Paris, US$811.2mn; Metropolitan Plaza, Guangzhou, US$590mn; and Twenty Anson, Singapore, US$377mn.

     

    About Cushman & Wakefield

     

    Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

     

     

     

     

    0 0

    Business Wire IndiaWipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading information technology, consulting and business process services company, and Alight Solutions, a leader in technology-enabled health, wealth, HR and finance solutions, today announced a long-term relationship which will reshape the HR services industry by providing Alight’s clients with the breadth and depth of capabilities from the two industry-leading organizations.
     
    This strategic partnership[1] will enable Alight to accelerate investment in consumer-facing technologies and services across its health, wealth and cloud businesses by leveraging Wipro’s industry-leading strengths in automation, machine learning and data analytics.
     
    Additionally, Wipro will acquire and take on responsibility for the services delivered from Alight’s India locations. Alight has developed a rich set of technology and delivery capabilities across its India centers located in Gurgaon, Noida, Mumbai and Chennai.
     
    Lincolnshire, Illinois-based Alight Solutions provides benefits administration and cloud-based HR and financial solutions to 1,400 clients serving 19 million employees and their 18 million family members.
     
    Wipro provides HR services to a range of marquee customers globally across industry verticals such as retail, manufacturing, banking and financial services, education, healthcare, energy and utilities.
     
    “When we think about serving our clients and their people, we believe it is imperative to provide technologies and solutions that meet rising trends like the growing adoption of cloud-based technologies, the increased use of automation, rising consumerism and the demand for more personalized, integrated solutions,” said Chris Michalak, Chief Executive Officer, Alight Solutions. “Our partnership with Wipro enables us to leverage Wipro’s unmatched innovation and leadership in automation and digital technologies, while increasing our investments to harness market trends and deliver even better solutions for our clients as their needs and those of their people evolve.”
     
    Abidali Z. Neemuchwala, Chief Executive Officer and Executive Director, Wipro Limited said, “We welcome the Alight India team to the Wipro family. We are delighted to be chosen as a strategic partner by Alight for this transformational project. Our focus will be to modernize Alight’s core technology assets and further automate its operations to enhance the user experience of Alight’s end customers. Wipro’s expertise and best practices in cloud and smart analytics, and investments in proprietary platforms such as Wipro HOLMES™ will enable this transformation.”
     
    The transaction is subject to customary closing conditions and is expected to close after receiving required regulatory approvals.
     
    FCM Consulting facilitated the transaction between the two organizations.

    About Wipro Limited
     
    Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 160,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
     
    About Alight Solutions
     
    As a leading provider of benefits administration and cloud-based HR and financial solutions, we enhance work and life through our service, technology and data. Our dedicated colleagues across 14 global centers deliver an unrivaled consumer experience for our clients and their people. We are Alight. Reimagining how people and organizations thrive.
     
    Follow Alight on Twitter: https://twitter.com/alightsolutions
    Follow Alight on LinkedIn: https://www.linkedin.com/company/alightsolutions
     
    Forward-looking and Cautionary Statements
     
    Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
     
    [1] Alight and Wipro are finalizing the terms of the arrangement.

    0 0

    Business Wire India

    Snapdeal Offers up to 80 percent Discount at Mega Deals Sale
    Snapdeal Offers up to 80 percent Discount at Mega Deals Sale

    • SBI customers get an instant 10% discount
    • Massive discounts on feature phones, monsoon essentials, and other products
    E-commerce firm Snapdeal has launched a three-day sale offering massive discounts across categories like mobile and electronics, fashion and home between July 20-22. The company is offering discounts on various products across price segments and categories. Along with this, SBI Bank customers get an instant 10% discount on their purchase.
    During the sale period, the e-commerce player will be offering up to 80% discount on men and women’s clothing and minimum 50% discount on women’s handbags and accessories. The customers can purchase monsoon footwear starting at Rs 499. The sale also boasts of utility items like clothes drying stands, floaters, waterproof bike chargers, backpack rain covers, all must-haves for this season at a bargain. 

    This year, the company has also set up a Feature Phone Store which offers feature phones from brands like Reliance Jio, Micromax, Nokia, and I Kall at attractive prices. Most mobile phones available on the Snapdeal Feature Phone Festival are 4G-enabled, and fashionably designed with unmatched features at costs starting from Rs. 299 only. These devices also come equipped with unique features such as fake currency detector, super battery feature, FM radio, music player, dual SIM, and Bluetooth connectivity. Some of these phones include IKALL K71, Nokia 105, and Micromax Bharat 1.

    In addition, the sale also boasts of entry-level smartphones like iVOOMi V5 and Xolo Era priced at Rs 3499 and 4499 respectively. Besides, the 32 inch HD Ready LED Vibgyor television and 40 inch smart full HD LED Television is priced at Rs 9990 and Rs 19490.

    The customers can also purchase safari luggage bags at a minimum 65% discount.
    For further informationvisit: https://www.snapdeal.com/offers/mega-deal

    0 0

    Business Wire IndiaIn the recent years, with the rapid integration of internet in the retail sector, e-commerce has witnessed a significant boost. As a result, more and more brands are going online to grab the attention of the customers. However, customers prefer a platform that offers a vast range of products at attractive rate and convenience of purchase. Bajaj Finserv EMI store is first of its kind portal that enables customers to shop from the gamut of products offered by the retailers along with exclusive offers available in their city.
     
    Ever since the introduction of Bajaj Finserv online EMI Store, the platform has witnessed a large number of EMI Card customers purchasing their preferred consumer durable and electronic products across categories like Smartphones, Laptops, Tablets, Air Conditioners, Microwave ovens, Televisions, Washing Machines, and Refrigerators.

    Customers can use their Bajaj Finserv EMI Network Card to avail the facility of No Cost EMI on all products available on this online shopping platform.

    This e-commerce platform works on a hyper-local model that enables the customers to view offers on products from local retailers located in their vicinity.

    Following are the top 5 reasons to shop on the Bajaj Finserv EMI Store: -

    1. 4-Hour Delivery
     Customers can enjoy the benefits of 4-hour delivery on select products available on the Bajaj Finserv EMI Store.
    1. Hyperlocal Business Model
    Bajaj Finserv EMI Store works on hyper-local business model wherein customers can compare, select and order products available from the nearest retailers
    1. Zero Down Payment
    Bajaj Finserv offers customers an option to purchase select products on zero down payment i.e. customers need not pay anything while purchasing the products of their choice, they only need to repay their EMIs on time
    1. No Cost EMI
    All products available on the Bajaj Finserv EMI store can be purchased using the No Cost EMI facility. There a wide range of EMI plans available from which customers can choose the one that suits their requirements the best.
    1. Doorstep Demo
    Across select locations, customers can avail the facility of doorstep demonstration of selected products available on Bajaj Finserv EMI Store. This enables them to understand the complete functionality of the products they have purchased

    To know more, visit https://www.bajajfinservemistore.in/
    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 on 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

    Today, STATS, the worldwide leader in sports data and intelligence, expanded its executive roster with the introduction of Dr. Helen Sun as Chief Technology Officer. Sun will oversee STATS’ product, engineering, artificial intelligence and data production teams in developing the next generation of products and services that will revolutionize the performance and experience of sports.

     

    Sun joins STATS from JPMorgan Chase, most recently serving as Chief Technology Officer of the Commercial Banking division. For over 22 years, Sun has a proven record as a technology strategist and thought leader in previous roles as Vice President of Cloud Computing, Information Management, and Architecture at Motorola Solutions; Senior Director of Global Enterprise Architecture at Salesforce; and Director of Enterprise Architecture at Oracle.

     

    “Helen is a leader in transforming businesses through innovative solutions and she will be a driving force in building upon our reputation as the leading sports technology company in the world,” said Carl Mergele, Chief Executive Officer at STATS. “The depth of Helen’s knowledge and experience make her a perfect fit as we deliver new products that are backed by best-in-class artificial intelligence and machine learning. We are thrilled to have a technology expert of Helen’s caliber come on board.”

     

    Sun earned a Ph.D. in Education Technology and Information Systems from The University of Toledo prior to her extensive leadership experience across multiple financial and software organizations. She has been recognized by the Chicago Business Journal as “Business Woman of the Year” and as a featured speaker at the University of Chicago’s “Women in Analytics” symposium. On July 16, Sun was recognized in Crain's Tech 50 of 2018.

     

    “I am thrilled to be joining an impressive team that is committed to providing cutting-edge solutions powered by artificial intelligence that is leading the standard for technology and software platforms,” said Sun. “STATS’ commitment to technology and innovation, particularly when it comes to advancements in artificial intelligence and machine learning, make it an exciting opportunity. I look forward to creating new benchmarks for the future of sports and technology.”

     

    About STATS

     

    STATS is the global leader in sports intelligence, operating at the intersection of sports and technology. The world’s most innovative brands, technology companies, leagues and dozens of world championship teams trust STATS to find their winning edge. STATS combines the industry’s fastest and most accurate data platform with video analysis, sports content and research, player tracking, and the latest in artificial intelligence (AI) and machine learning to provide unparalleled media and team performance solutions. The pioneer of live sports data, STATS continues to speed innovation in the industry with STATS Edge™, the first-ever team performance solution powered by AI. For more information, go to www.stats.com and follow STATS on Twitter @STATS_Insights.

     

     

     

     

    0 0

    Business Wire India

    FlipNpik's unconventional democratic ICO private sale has already raised USD 2 Million, 4 days after opening it to the public. Notably, funds raised have come from a combination of cryptocurrency and fiat payments - a clear indication that the project is appealing to both the crypto and non-crypto communities.

     

    “We are very happy to help the larger community who may be new to cryptocurrencies break down the 'crypto barrier' by having one of the first fiat-based payment gateways to facilitate the purchase of tokens,” says Henri Harland, CEO of FlipNpik Worldwide.

     

    In the past month, the blockchain-based social media platform has also signed two significant partnerships in Asia, iFashion and Vexanium, as it continues its expansion into the competitive Asian markets.

     

    The partnership with Indonesian blockchain-based Vexanium will give FlipNpik access to their 3500-plus merchants and private database of 1 million-over users. With the Singapore-based iFashion Group, FlipNpik will have access to 10,000 new merchants and a database of over 40,000 subscribers from the MGX stores (iFashion subsidiary). FNP tokens will be accepted as payment on its e-commerce platform. These two partnerships will undoubtedly extend FlipNpik's reach into the Asian markets. FlipNpik is also finalizing several other agreements which will increase FlipNpik's penetration into the Asian and worldwide markets.

     

    The FlipNpik private sale offering special 'whale' bonuses (reaching up to 100% token bonus) has been made public for only 15 days and will continue till August 3rd. Starting with a low minimum buy-in of USD100, anyone can benefit from the 'whale' bonus. For more information on FlipNpik and to participate in its sale, please visit https://flipnpik.io

     

    About FlipNpik

     

    FlipNpik is the first blockchain-based collaborative social media to allow users to monetize their social media posts by supporting their favourite local shops. Users are rewarded for posting and promoting businesses, and this translates to enhanced marketing and visibility for businesses. The FlipNPik mobile app is available on iOS and Android, and FlipNpik has listed businesses in Switzerland, Great Britain, Ireland, Singapore, Canada and France. https://flipnpik.io

     

     

    0 0

    Business Wire India

    Moody’s Analytics, a leading provider of financial intelligence, has enhanced its data capabilities by partnering with Paxata, a leader in data preparation. Through this partnership, Moody’s Analytics now offers financial institutions a self-service data preparation functionality to help them turn raw data into ready information instantaneously.

     

    The Paxata data preparation platform integrates seamlessly with the Moody’s Analytics regulatory technology suite of solutions, including our on-premise, cloud, and software-as-a-service (SaaS) offerings. It requires no coding or scripting, and works across a company’s entire data set, giving business users trusted and confident results for their business analytics.

     

    “Our decision to work with Paxata was driven by the holistic, responsive nature of their platform and the depth of user interaction it affords,” said Yann Delacourt, Director of Product Management at Moody’s Analytics. “We understand that accurate, up-to-date, and correctly formatted data is central to effective enterprise risk management. Our solutions already contain extensive data quality management tools for consolidation, results calculation, and reporting to ensure high-quality data standards. The integration of Paxata’s data preparation platform within the Moody’s Analytics suite of regulatory solutions will enable users to take greater control of this data step.”

     

    “We are delighted that Moody’s Analytics has selected our data preparation tool to enhance its suite of regulatory technology solutions,” said Chris Maddox, Co-founder and SVP Business Development and Alliances at Paxata. “As data volumes within financial institutions continue to increase, there is a growing need for companies to gather, profile, and prepare data across the business. Our self-service, scalable platform enables enterprises to intelligently and rapidly transform raw data into trusted insights.”

     

    Click here to learn more about Moody’s Analytics regulatory technology and SaaS solutions.

     

    Click here to learn more about PartnerAlliance, the Moody’s Analytics global partner program.

     

    Click here to learn more about Paxata.

     

    About Moody’s Analytics

     

    Moody’s Analytics provides financial intelligence and analytical tools supporting our clients’ growth, efficiency, and risk management objectives. The combination of our unparalleled expertise in risk, expansive information resources, and innovative application of technology helps today’s business leaders confidently navigate an evolving marketplace. We are recognized for our industry-leading solutions, comprising research, data, software and professional services, assembled to deliver a seamless customer experience. Thousands of organizations worldwide have made us their trusted partner because of our uncompromising commitment to quality, client service, and integrity.

     

    Moody's Analytics is a subsidiary of Moody's Corporation (NYSE: MCO). MCO reported revenue of $4.2 billion in 2017, employs approximately 11,900 people worldwide and maintains a presence in 41 countries. Further information about Moody’s Analytics is available at www.moodysanalytics.com.

     

    About Paxata

     

    Paxata is the pioneer in empowering all business consumers to intelligently transform raw data into ready information, instantly with an enterprise-grade, self-service, scalable, intelligent platform. Our Adaptive Information Platform weaves data into an information fabric from any source, any cloud, or any enterprise to create trusted information. With Paxata, business consumers use clicks, not code, to achieve results in minutes, not months. Companies around the globe rely on Paxata to get smart about information at the speed of thought.

     

    Paxata is headquartered in Redwood City, California with offices in New York, Ohio, Washington DC, and Singapore. Visit www.paxata.com.

     

     

     

     

older | 1 | .... | 56 | 57 | (Page 58) | 59 | 60 | .... | 69 | newer