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Archive for June 29th, 2012

Thai Delegation Meets with ICC as Country Faces Risk of Renewed Hostilities

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THE HAGUE, Netherlands, June 28, 2012 /PRNewswire-Asia/ — This week a delegation of Thai citizens held preliminary meetings with prosecutors of the International Criminal Court (ICC) in The Hague, Netherlands to discuss the violent military crackdown against protesters in 2010 which led to more than 90 deaths.

Dr. Thongchai Winichakul, a professor of history based at the University of Wisconsin, led the delegation along with numerous witnesses and survivors to present before the ICC during this meeting. In a letter delivered to prosecutors ahead of the meeting, Dr. Winichakul emphasized the historical importance that the court could make in Thailand, where coups and violence against civilians by the military has occurred repeatedly throughout history.

“Among the subjects I study include the atrocities in 1973, 1976, and 1992, and the culture of impunity in Thailand. I have followed the political situation in Thailand closely since the coup in 2006, especially the bloodshed in April-May 2010 and its aftermath,” Dr. Winichakul wrote in his letter. “I would like to request that the ICC can help bring the end to this repeated impunity – thereby the repeated killings of civilians — by investigating into the 2010 killings and bringing the case to the International Criminal Court.”

The visit to The Hague follows upon a two-year campaign to raise awareness of the alleged crimes against humanity committed by the former government of Prime Minister Abhisit Vejjajiva. Although Thailand has not ratified the Rome Statute, it was proven that Prime Minister Abhisit is a British subject, and therefore is under the court’s jurisdiction, argues the legal team on behalf of the Red Shirt victims.

“The meetings held with the ICC were productive, and we will continue to comply with all normal protocol to move forward through the process,” said international lawyer Robert Amsterdam, of Amsterdam & Partners LLP, who serves as international defense counsel to the United Front for Democracy against Dictatorship (UDD), a group popularly known as the Red Shirts. “This crucial meeting takes place within a very tense context. Given the ongoing attempts by minority groups to yet again forcefully remove a democratically elected party in an upcoming constitutional court decision, the prospect of renewed violence and instability is a matter of grave concern for the international community, and makes more relevant our request before the ICC.”

Further information on this case, including a full copy of Dr. Winichakul’s letter, can be found at

SOURCE Amsterdam & Partners LLP

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June 29, 2012 at 4:05 pm

Posted in Uncategorized

Avis Expands Asia Network, Launches Taiwan Operations

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HSINCHU, June 28, 2012 /PRNewswire-Asia/ — Leading car hire company, Avis, further expands its footprint in the global network by launching operations in another bustling country in the Asia region — Taiwan, with a press launch on June 28, 2012 at The Denwell, Taiwan.
(Photo: )

The event, entitled, “One World, One Avis”, brings together over 200 local and regional media delegates as well as top executives from Avis that include Avis Budget Group President for Latin America and Asia Pacific, Mr. Patric Siniscalchi, and Avis Director for Licensee Relations in Asia, Mr. Joerg Kossich, plus honoured guests from the commercial and travel industries.

Avis Taiwan aims to improve mobility within Taiwan, whose fast growing economy and strategic position has resulted to significant increase in domestic and international traffic for the travel industry. With the entry of Avis Taiwan, the growing demand for domestic car rental and leasing by both business and leisure travelers will be addressed. Avis Taiwan will serve as a “one-stop” mobility solution for the Taiwan community through their world-class services that include: short and long-term car rental (self-drive), personal or corporate car leasing, and chauffer-drive/transfer services using their new and state-of-the-art fleet.

Online and over the phone booking facilities are provided via the proprietary and global Avis “Wizard” online booking system, the upcoming Avis Taiwan website, as well as the Avis Taiwan Service Hotline: 0800 600 601. Customers can now experience the convenience of booking their mobility needs, whether domestic or international, with a reputable and global brand.

Starting June 28, Avis Taiwan will serve as the sole car rental company in the country with the widest global reach, having approximately 5,200 locations in more than 165 countries, plus extensive commercial partnerships that include major airlines, global hotel chains, banks and credit card companies, as well as other prestigious tourism and hospitality operators.

Avis will operate in three locations in Taiwan that include two city locations: 340-15 Chung-Hwa Road, Chu-Pei City, HsinChu County 30259; 175 Chung-Hwa Road Section 2 HsinChu City (downtown); and an airport location: TaoYuan International Airport 808 SanMin Road Section 1, DaYuan Township, Taoyuan County, Taiwan.

About Avis in Asia

In Asia, Avis is a leading provider of vehicle rental; vehicle leasing and limousine/chauffeur drive services operating in more than 300 locations through a network of wholly owned subsidiaries, joint ventures and licensee agreements in 22 markets. Avis opened its first operations in Asia in 1970 in Hong Kong. Throughout the 70’s Avis grew steadily in the region, with operations launched in Singapore, the Philippines, Pakistan, Malaysia and Indonesia. More recently, developments have included openings in India, Mainland China, Vietnam and Taiwan.

About Avis

Avis Car Rental operates one of the world’s best-known car rental brands with approximately 5,200 locations in more than 165 countries. Avis has a long history of innovation in the car rental industry and is one of the world’s top brands for customer loyalty. Avis is owned by Avis Budget Group, Inc. (NASDAQ: CAR), which operates and licenses the brand throughout the world. For more information, visit

SOURCE﹛Avis Asia

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June 29, 2012 at 2:46 pm

Posted in Uncategorized

SunGard – Economist Intelligence Unit Survey Shows Institutions Need a Firmer Grasp on Volatility

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SINGAPORE, June 27, 2012 /PRNewswire-Asia/ — A majority of bankers, insurers and asset managers, as well as finance executives at non-financial companies, consider their organizations to be vulnerable to exceptional or sudden swings in volatility, according to a global survey( ) conducted by the Economist Intelligence Unit for SunGard.
Following the 2008 financial crisis, regulators have made understanding and managing volatility risk a top priority. For example, the U.S. Federal Reserve and the European Banking Authority have introduced “stress tests” to analyze whether large bank holding companies and banks, respectively, would have sufficient capital in times of severe economic and financial stress, as well as to analyze risk across the financial system.

This scrutiny, in addition to other regulatory changes, economic uncertainty and weak market conditions, are creating concern about volatility risk in the business or the economic environment, as indicated by executives who responded to this survey, particularly those in North America and Western Europe.

The key findings of the survey include:

— More than two in five respondents feel their firms are under-investing in risk management tools that could help them cope with volatility.
— Despite regulatory pressure and a greater awareness of risk, more than half of the respondents say their company conducts stress tests or scenario analysis to check their ability to cope with volatility just once a year or every six months at best. That means the majority of organizations surveyed are exposed to fast-moving developments.
— Only 17 percent of respondents say their company proactively takes measures to protect their clients from volatility risk and nearly one in three say they either wait for instruction from their clients, or they do not have any system in place to specifically shield their clients.
— Since the onset of the crisis, chief financial officers (CFOs) and chief risk officers (CROs) have become more accountable for coping with volatility. This is particularly true in North America, where over a third of respondents say their CFO is currently accountable for managing volatility at their company.

Abhik Sen, managing editor at the Economist Intelligence Unit, said, “What is most striking about this survey is that despite the obvious need for improvements in risk management in today’s challenging economic and business environment, a majority of firms around the world do not seem to be conducting stress tests as frequently as they should be. Companies should also be worried that only two in five senior executives surveyed feel confident that the business model of their employers can cope with sharp swings in volatility.”

Jeffrey Wallis, managing partner at SunGard Global Services, said, “The SunGard-EIU survey shows that many organizations have taken steps to better handle volatility risk, such as increasing shared accountability for it internally. However, it also appears that many firms remain vulnerable, whether through irregular or non-existent exposure monitoring, inadequate investment or insufficiently robust business models. Overall, our findings suggest that there is still much to learn about the causes of volatility risk and the best methods for controlling it.”

The survey polled more than 500 executives at financial and non-financial firms around the world with influence over or responsibility for risk or compliance.

To download a copy of the survey report, and to listen to SunGard’s Jeffrey Wallis discuss aspects of the research with the Economist Intelligence Unit, click here( ).

About the Economist Intelligence Unit

The Economist Intelligence Unit (EIU) is the world’s leading resource for economic and business research, forecasting and analysis. It provides accurate and impartial intelligence for companies, government agencies, financial institutions and academic organisations around the globe, inspiring business leaders to act with confidence since 1946. The company also undertakes bespoke research and analysis projects on individual markets and business sectors. The EIU, headquartered in London with offices in more than 40 cities around the world, is part of The Economist Group, the leading source of analysis on international business and world affairs.

About SunGard

SunGard is one of the world’s leading software and technology services companies. SunGard has more than 17,000 employees and serves approximately 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue of about US$4.5 billion, SunGard is the largest privately held software and services company and was ranked 480 on the Fortune 500. For more information, please visit

Trademark Information: SunGard and the SunGard logo are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.


Written by asiafreshnews

June 29, 2012 at 10:41 am

Posted in Uncategorized

Indian Business and Lawyers Overwhelmingly Back Liberalisation of India’s Legal Market

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MUMBAI, June 28, 2012 /PRNewswire-Asia/ — There is near unanimous agreement among leaders of India’s largest companies and top law firms that the country’s legal market should be liberalised, according to research published today by independent research agency YouGov in association with Allen & Overy.

The research sought the opinions of 301 major stakeholders in the liberalisation debate. Respondents included 100 C-suite executives and 100 general counsel from India’s largest companies, as well as 101 partners and associates from India’s top 50 law firms.

Key findings include: • 96% of respondents believe the India legal market should be liberalised, including 98% of Indian partners; • 90% either “Strongly Agree” or “Agree” that it will lead to easier access to international legal expertise; • Indian business leaders (71%) say that liberalisation will make their business more globally competitive; • 79% of respondents say foreign law firms should be allowed to employ and go into partnership with Indian lawyers, and merge with Indian law firms, to practise both Indian and foreign law; • 63% of respondents believe this should happen within two years; and • 89% “Strongly agree” or “Agree” that liberalisation will lead to more career opportunities for Indian lawyers.

The support for liberalisation is not, however, because of any perceived shortcomings in the local legal market itself – 89% of respondents believe the quality of legal services provided to large corporations by Indian law firms is either good (56%) or very good (33%).

Commenting, Jonathan Brayne, Chair of Allen & Overy’s India Group, said: “This research confirms that as India’s corporate champions continue to expand and compete globally, they see a need for greater choice of legal services at home to ensure their success overseas. It also shows that India’s leading lawyers welcome the opportunities that liberalisation would present for both their clients and their own careers.”

“The possibly surprising outcome of this research is the large level of agreement among the major stakeholders in the liberalisation debate in India. They believe liberalisation should happen, that it will have a positive impact and that it should happen sooner rather than later.”

Copies of the research report are available to download from .

For further information, please contact Campbell McIlroy,, on +44-(0)20-3088-2783 in London, or Amrit Singh Deo,, on +91-9167-429-020 at FTI Consulting in Mumbai.

Notes for Editors:

1. Allen & Overy is an international legal practice with approximately 5,000 people, including some 512 partners, working in 40 offices worldwide. 2. In this press release ‘Allen & Overy’ means Allen & Overy LLP and/or its affiliated undertakings. 3. The term ‘partner’ is used to refer to a member of Allen & Overy LLP or to an employee or consultant with equivalent standing and qualifications or to an individual with equivalent status in one of Allen & Overy LLP’s affiliated undertakings 4. All figures, unless otherwise stated, are from YouGovStone Ltd.  Total sample size was 301 Indian legal and business professionals. Fieldwork was undertaken between 20 February 2012 and 11 April 2012.The survey was carried out by telephone. The figures have not been weighted in any way. Percentages may not add up to 100% due to rounding.

SOURCE  Allen & Overy


Written by asiafreshnews

June 29, 2012 at 9:51 am

Posted in Business & Finance