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Barneys New York And The Walt Disney Company Announce Holiday 2012 Campaign: Electric Holiday

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NEW YORK /PRNewswire-Asia/ — Barneys New York, the luxury specialty retailer, and The Walt Disney Company, the world’s leading entertainment company, announced today their collaboration on the 2012 Holiday campaign at Barneys New York retail venues: Electric Holiday. A multi-platform initiative infused with fashion and fantasy, Electric Holiday will merge the creativity and magic of Disney with the wit and surprise of the legendary Barneys New York annual holiday campaign to create a celebration of festive modern electric lights, music and fashion.

Barneys New York And The Walt Disney Company Announce Holiday 2012 Campaign: Electric Holiday
(Photo: http://photos.prnewswire.com/prnh/20120822/NY59866-a )
(Logo: http://photos.prnewswire.com/prnh/20120822/NY59866LOGO-b )
(Logo: http://photos.prnewswire.com/prnh/20120822/NY59866LOGO-c )
Beginning in mid-November, the Barneys New York Madison Avenue windows will serve as the centerpiece of the Electric Holiday campaign in which an exclusive moving art short created by Disney artists, will be showcased amid a celebration of lights. Disney has also created a modern, three-dimensional electric light show that will encompass the Madison Avenue store entrance and showcase the moving art housed within the windows. To accompany the facade and moving art, Oscar®-winning composer Michael Giacchino is creating an original score of highly-charged music to bring the show to life.
The Electric Holiday program and the Madison Avenue flagship’s windows will be unveiled on November 14th Air France will be supporting the Holiday 2012 campaign with an integrated promotion and the Electric Holiday light show will feature innovative display technology, using Christie® MicroTiles®, from Christie Digital Systems USA, Inc.
“The legendary characters and world created by Disney live in the active mind and memory of virtually every citizen of the world,” said Mark Lee, Barneys New York CEO. “Barneys New York has been privileged to collaborate with Disney and its remarkable talents this holiday season on the Electric Holiday campaign, which places these iconic characters into the center of our fashion world.”
“In the tradition of legendary New York Holiday retail campaigns, Electric Holiday is a festive extravaganza that will delight people of all ages,” said Bob Chapek, president of Disney Consumer Products. “From the stunning visuals, to iconic Disney storytelling and unique merchandise assortment, this collaboration with the venerable Barney’s New York is a celebration worthy of the season.”
Electric Holiday is a fusion of some of the most creative minds, a collaboration comprised of the Barneys New York team under the direction of Creative Director Dennis Freedman and Disney veterans Luis Fernandez, senior vice president of global creative, Disney Consumer Products, and John Quinn, Disney character art director.
The Electric Holiday moving art will feature models inspired by Minnie Mouse and Mickey Mouse as well as other iconic Disney characters as they star in a fantasy Paris runway show, capturing the essence of the high-fashion world along with the electrically-charged colors and brilliant lights of the magical world of Disney. Minnie and Mickey are transported into a fantasy world where they are transformed from their traditional Disney form into dream-like fashion-forward runway models, and are joined on the Paris runway by five other models evocative of other iconic Disney personalities: Goofy, Daisy Duck, Snow White, Princess Tiana, and Cruella de Vil.
Each transformed Disney model is dressed in a one-of a-kind exclusive look created by some of the most influential fashion designers in the world, including: Nicholas Ghesquiere for Balenciaga, Oliver Rousteing for Balmain, Dolce & Gabbana, Alber Elbaz for Lanvin, Peter Copping for Nina Ricci, Proenza Schouler, and Rick Owens.
To fully bring the iconic Disney characters into the Barneys world, true fashion insiders will be featured within the moving art short, from designers featured in the fantasy runway show, to revered hair and make-up artists, photographers, respected journalists and editors, and the celebrities and notable guests that typically attend the high profile shows. The result depicts a unique, fantasy Paris show with all of the real-world elements of backstage, front-row and runway in illustrated form.
Barneys New York has worked to create a range of exclusive (XO), limited-edition holiday gift items, which will be available for a limited time only at Chelsea Passage on the ninth floor in Barneys’ Madison Avenue flagship location in New York, at select Barneys New York locations nationwide and Barneys.com. The product assortment includes Disney’s highly collectible Vinylmation figures designed by Paul Smith and Diane von Furstenberg, Mickey Mouse ears designed by Rag & Bone and L’Wren Scott, and smaller items such as holiday ornaments, edible sweets, toys for children, and much more.
In the spirit of the holiday season, Barneys New York will donate 25% of sales from all Electric Holiday products to a charity in honor of their special collaboration.
Original and exclusive Electric Holiday artwork will be featured on special Barneys shopping bags available with all in-store and Barneys.com purchases during the holiday season.
About Barneys New York
BARNEYS NEW YORK (Barneys) is a luxury specialty retailer with flagship stores in New York City, Beverly Hills, Chicago, Seattle, Boston, Dallas, San Francisco, Las Vegas, and Scottsdale. The Company also operates a highly successful online business at Barneys.com. Founded as a men’s retailer in 1923 in downtown Manhattan it turned into an international arbiter of high style for both women and men in the 1970s and became renowned for discovering and developing new and innovative design talent. Barneys is famous for selling the most intriguing edit from the world’s top designers including women’s and men’s ready-to-wear, accessories, shoes, jewelry, cosmetics, fragrances, and gifts for the home. Barneys’ signature sense of wit and style is manifested in its creative advertising campaigns, original holiday themes, and celebrated window displays. Barneys’ innovative CO-OP was launched in 1985 and has since expanded into a freestanding store concept operating more than a dozen locations in eight states across the U.S. For more information about Barneys New York please visit http://www.Barneys.com and explore its luxury content site, The Window, for an insider’s look into the Barneys world: a behind-the-scenes visit with exciting designers, fashion, events, and the Barneys team.
About The Walt Disney Company
The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise with five business segments: media networks, parks and resorts, studio entertainment, consumer products and interactive media. Disney is a Dow 30 company and had annual revenues of about $40.9 billion in its last fiscal year.
Ever since Walt Disney founded his world-famous company in 1923, the name “Disney” has become synonymous with boundless creativity and an unbridled imagination that helped define the 20th century. Today, The Walt Disney Company and its affiliated companies remain faithful to their commitment to produce unparalleled entertainment experiences based on the rich legacy of quality creative content and exceptional storytelling. From television and movies, to theme parks, merchandise, virtual worlds and beyond, Disney delights consumers and guests everywhere with magical stories, beloved characters and unparalleled family entertainment and experiences.
About AIR FRANCE
AIR FRANCE, with its three regional subsidiaries, Brit Air, City Jet and Regional, operates 1,500 daily flights in France, Europe and worldwide. Its fleet comprises 387 aircraft in operation.
AIR FRANCE KLM, the result of a merger between AIR FRANCE and KLM in 2004, is one of the leading European air transport groups. Its main activities are the air transport of passengers and cargo as well as aircraft maintenance. In 2011, AIR FRANCE KLM carried 75.8 million passengers and 1.1 million tons of cargo. The group’s fleet comprises more 586 aircraft, including 173 regional aircraft operated by its partners Brit Air, City Jet, Regional and KLM Cityhopper. Its network covers 230 destinations in 113 countries from its hubs at Paris-Charles de Gaulle and Amsterdam-Schiphol. The Flying Blue frequent flyer program is leader in Europe and has over 20 million members. AIR FRANCE and KLM currently operate from 12 U.S. gateways and provide service from 125 U.S. cities through joint venture partner Delta Air Lines. With their partners Delta Air Lines and Alitalia, AIR FRANCE and KLM operate the biggest transatlantic joint venture with more than 250 daily flights. AIR FRANCE and KLM are members of the SkyTeam alliance which has 16 member airlines, offering customers access to a global network of over 14,700 daily flights to 958 destinations in 173 countries.
For more information or to purchase tickets, visit http://www.airfrance.us, call 1-800-237-2747 or contact your travel professional. For deals and the latest information follow Air France on facebook.com/AirFranceUSA and Twitter @AirFranceUS.
Source: Barneys New York

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August 30, 2012 at 2:24 pm

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Capscan Reveal Disconnect Between Perceptions of Customer Data and Quality Management Process within Organizations

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Results of the 2012 International Data Quality Management Survey

LONDON/PRNewswire-Asia/ — Capscan, a leading global supplier of international data quality management (IDQM) and customer registration solutions today reports the findings of its 2012 International Data Quality Management (DQM) survey. This new research reveals that organizations need to improve their IDQM practices, if they want to succeed in marketing and selling their products and services across domestic and international markets.
The Asia Pacific region is seen as a growth area for enterprise data[1], since the widespread implementation of CRM and ERP solutions have triggered exponential growth in the volume of information generated about partners, suppliers, and customers – now more than ever there is a need for effective IDQM.
The survey was commissioned by Capscan and completed by independent analyst, Graham Rhind in May 2012, to measure the perceptions that international companies have about data quality and the actions that they are taking to achieve improvement. Unsurprisingly, data quality has a high level of importance within organizations (66% stating very important). However, whilst the value of customer data is clear, there is an apparent disconnect between how it is being managed, and the perception of its quality.
Whilst organizations are aware of the commercial benefits of high-quality customer contact data (greater operational efficiency to improved campaign success rates, a more streamlined transaction process and better customer service), and the negative impact of poor information, almost half of the 291 respondents (40.9%) stated that their organizations don’t have an enterprise-wide DQM strategy.
International Sales Director at Capscan, David Mead explains: “For businesses operating internationally, the issues of poor quality or incorrectly formatted international contact data are exacerbated when challenged with different customs, address formats and languages. Obvious pitfalls include the inability to execute successful cross-border marketing campaigns, poor customer perception, and unnecessary exposure to identity theft and fraud.”
Graham Rhind comments on the findings on the research: “62.9% of respondents view their contact data to be excellent, accurate, valid and relevant, or good and sufficient for the task. Yet, one of the most startling findings from the research is the lack of validation that is being applied to the information entering these organizations, from an increasing number of communication touch-points. Over time this neglect can have serious repercussions on customer satisfaction and the overall health of the organization.”
63.3% of respondents stated that ensuring data is kept secure and up-to-date is the biggest challenge facing their respective businesses today, as well as citing data decay (56%) and inadequate data entry (55.7%) as two other primary areas of concern. Whilst 82.5% reported that they collect the customer address and zip code information, 67% the cell phone number and 71.1% the business email address, less than half of all information collected is validated.
“Considering the wide availability of tools available, it is a worrying precedent that so many organizations are failing to validate this basic essential information,” notes Rhind. “As the way in which customers interact with businesses continues to evolve, these organizations need to increase and enrich the data they acquire for their sales and marketing activities, but it must also be accompanied by scrupulous data quality management.”
Capscan provides verified address data for more than 240 countries and territories worldwide. “Data quality management needs to be ingrained from the initial on-boarding of the customer and throughout their entire journey with the business. Our survey shows that organizations are aware of the rewards of a DQM strategy but many are falling short in its implementation and management,” concludes Mead. “Despite little change in the two years since we last commissioned this research there are positive signs that investment is to be made in DQM, MDM, identity authentication, de-duplication and international address management in the next 12 months.”
The full results from the 2012 International Data Quality Management survey are published by Capscan in a new whitepaper entitled ‘Data Quality Insight’, which can be downloaded for free at: http://www.capscan.com.
[1] http://technology.inquirer.net/2003/explosion-of-data-seen-to-stunt-growth-of-some-asia-pacific-firms
About Capscan
Capscan, part of the GB Group of companies, was originally established in 1969 and is a leading supplier of international data quality management (IDQM) and customer registration solutions. Capscan is headquartered in London, UK, with more than 1800 customers worldwide across a wide range of commercial and public service sectors. In the UK alone, there are currently more than 140 different government departments, agencies and local authorities using Capscan products or services. In the private sector, Capscan’s customers include leading blue-chip and multi-national companies such as Ford Motors, Dun & Bradstreet, Forever 21 and Barclays Bank. The company’s flagship data quality product, Matchcode International, is available in mainland China, Hong Kong, Taiwan and across Asia, providing organisations trading in, or exporting from the Asia Pacific region, with verified customer data for more than 240 countries territories worldwide. The multi-lingual software supports Latin and non-Latin based languages, including traditional and simplified Chinese, Japanese Katakana, Kanji and Korean Hangul.
To download ‘Data Quality Insight’, visit: http://www.capscan.com/white_papers.aspx
Follow Capscan on Twitter: http://www.twitter.com/capscanlimited
Source: Capscan

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August 30, 2012 at 12:47 pm

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At Last! For The Sinuous, Sensual, Billion-Megawatt City That Never Sleeps, An After-Hours Eau De Parfum It Can Call Its Own: Bond No. 9 Manhattan

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NEW YORK, Aug. 29, 2012 /PRNewswire-Asia/ — Bustling, purposeful, teeming with traffic by day, New York after dark magically transforms into a city of out-and-out, take-no-prisoners seduction. The gourmet restaurants… the unspeakably elegant clubs… the theatre… the late-night tete a tetes all conspire to create a sensual wonderland that finds its very best expression in the local skies above. After dark, they turn a deepest midnight blue, set off by contrast to the billion-kilowatt landscape flickering below. That blue alone is the envy of other city skies everywhere.

To view the multimedia assets associated with this release, please click: http://www.multivu.com/mnr/57744-bond-no-9-manhattan-eau-de-parfum

(Photo: http://photos.prnewswire.com/prnh/20120828/MM60723)

Yes, Manhattan, referring specifically to the slender centerpiece island at the gateway to a massive continent on one side and a vast ocean on the other. Manhattan is what’s often meant with the words New York. It refers to Mannahatta, “island of many hills”, the name bestowed on it by its indigenous inhabitants, members of the Algonquin Lenape Indian tribe.

Manhattan, the eau de parfum, is an after-hours shared scent with a high seduction quotient. Officially it belongs in the oriental gourmand category, rich in spices—some of them very new to the oriental repertory. Its pace is set by a melange of topnotes: mouthwatering nutmeg… worldly saffron, evoking dried flowers… delicate coriander seeds—softened with the addition of luscious, mouthwatering peach. The heart notes continue the gourmet theme, as sweet honeycomb, made from the nectar of flowers, mingles with black plum, hinting of chocolate, and a warm and inviting gingerbread accord. Moroccan jasmine, the sole flower at the center of this scent, itself evokes the aura of peaches or ripe bananas. Then comes the lingering drydown: Creamy, velvety-smooth sandalwood; rich, balsamic patchouli; a soft and warm vanilla infusion; and unapologetically sensual, skin-like musk.

The bottle is a perfect visualization of the scent itself. A network of laser-etched Bond No. 9 tokens, rendered in red, shimmer against that midnight blue New York sky. Look close-up, as you would through a kaleidoscope, and you’re almost glimpsing an abstraction of the flickering city itself. What you’re seeing is an urban landscape of possibility.

Manhattanarrives on-counter September 2012 and will be sold at Bond No. 9’s five New York stores, Saks Fifth Avenue, Harrods and bondno9.com.

Price: 100ml, 70; 50ml, 90; candle, 05; body silk, 10.

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August 30, 2012 at 12:01 pm

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Learn more about the current macroeconomic scenario and Bradesco’s results!

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SAO PAULO /PRNewswire-Asia/ — Today watch our Sao Paulo APIMEC Meeting online live at 2:25 p.m. and get informed with lectures on macroeconomics, information technology, and the results and strategies of Banco Bradesco (BM&FBovespa: BBDC3; BBDC4), (NYSE: BBD; BBDO) and Bradesco Seguros e Previdencia.
-Bradesco Strategies and Prospects – Luiz Carlos Trabuco Cappi (CEO)
-Bradesco Seguros e Previdencia Group – Marco Antonio Rossi (CEO of Bradesco Seguros e Previdencia and Executive Vice-President of Banco Bradesco)
-Bradesco Presentation – Luiz Carlos Angelotti (Executive Managing Director and Investor Relations Officer)
-Current Macroeconomic scenario – Octavio de Barros (Chief Economist)
You’ll have the chance to send your questions, which will be answered live by our speakers!
Visit http://www.bradescori.com.br/apm12.
CONTACT:
Mrs. Ivani Benazzi de Andrade
Phone: +55-11-2178-6218
e-mail: 4823.ivani@bradesco.com.br
or Mr. Carlos Tsuyoshi Yamashita
Phone: +55-11-2178-6204
e-mail: 4823.carlos@bradesco.com.br
Source: Banco Bradesco S.A

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August 29, 2012 at 5:38 pm

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Frost & Sullivan Recognizes China Telecom Europe for Strongest European Growth among APAC-headquartered Service Providers

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In addition to a wide European footprint, it is the only APAC operator to enter the European consumer market
LONDON /PRNewswire-Asia/ — Based on its recent research on the information and communication technologies (ICT) and services market, Frost & Sullivan presents the 2012 Frost & Sullivan European Market Challenger: Asia-Pacific Telecoms Service Provider of the Year Award to China Telecom (Europe) Limited (CTE). The award recognizes the market performance and European success of large, Asia-Pacific (APAC)-headquartered telecom enterprises that offer services to consumers and enterprises in Europe via operational branch offices across the region.
Globalization has driven many European companies to expand into the APAC region. The reverse is also happening, with APAC-based companies expanding their footprint in Europe. Either way, enterprises need ICT infrastructure in terms of services and connectivity between the regions to drive their global business aspirations.
“Our analysis of nine large APAC telecoms service providers that are fully operational in Europe shows continuous growth in terms of turnover and number of employees,” said Saverio Romeo, Industry Manager with Frost & Sullivan’s European telecommunications group. “With an average of 60 per cent of employees that are locals, the typical footprint of these service providers tends to be sub-regional, with headquarters in London and offerings that revolve around intercontinental communications services and data centres.”
Started in 2006, the driving vision of CTE is the creation of the Information Silk Road to connect Europe and Asia. Headquartered in London with subsidiaries in Frankfurt, Moscow, and Johannesburg, and a representative office in Dubai, CTE has shown the strongest growth among its peers. The company’s revenues grew at a remarkable compound annual growth rate (CAGR) of 42.37 per cent from 2008 to 2011, while staffing levels increased by 57.26 per cent over the same period. Currently, CTE customers are mainly large enterprises, but there is an increasing demand from medium-sized companies for its services. Moreover, CTE has introduced more choices of network solutions and innovative business models that have reshaped the traffic pattern as well as empowering its Carrier customers to expand the business development in the Euro-Asia Telecommunication market.
CTE’s Euro-Asia Network (ENS) offers terrestrial links between Europe and Asia . The current round-trip delay from London to Beijing is just 180ms and service availability has been an impressive 100 per cent for nine consecutive months (CTE internal network monitoring statistics).
CTE plans to expand its pan-EMEA (Europe, Middle East, and Africa) PoP network with new operations in other cities. The company has already an extensive network of Internet Data Centres (IDCs) throughout EMEA and APAC, and another 260 in mainland China.
“In May 2012, CTE launched a mobile virtual network operator (MVNO) in the UK to primarily serve the Chinese community, and became the first Chinese telecom operator to launch MVNO services outside China,” said Romeo. “This is a very ambitious project that enables CTE to enter the consumer communications market in the UK and later in Europe.”
In recognition of these factors, Frost & Sullivan is pleased to present CTE with the 2012 European Market Challenger: Asia-Pacific Telecoms Service Provider of the Year Award in the communications and IT services market. Each year, Frost & Sullivan confers this award on the APAC-headquartered telecoms service provider that has expanded its European footprint with respect to communications and IT services during the past 12 months.
Frost & Sullivan’s Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About China Telecom Europe
China Telecom (Europe) Limited (CTE) is China Telecom’s wholly-owned overseas subsidiary for the EMEA region. Established in 2006 and based in London, CTE currently has subsidiaries in Frankfurt, Moscow, and Johannesburg, as well as a representative office in Dubai. CTE is committed to building a 21st century “Information Silk Road” to open up and empower the Euro-Asia communications market in the same way as the ancient Silk Road once transformed trade. Leveraging our unique Euro-Asia Network (ENS), an industry-first Eurasia terrestrial cable system, we link Europe and Asia with 4 high-speed routes, providing high resilience, low latency with diversity to meet the ever growing communication demands between EMEA and Asia, as well as across the globe. CTE offers a comprehensive range of world-class integrated communication solutions that can be customized to fulfill the different requirements of carriers, enterprises, and consumers throughout the EMEA region. Our customers include many Fortune Global 500 companies.
Please visit http://www.cteurope.net to learn more about us.
Contact: Marketing@chinatelecomeurope.com
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.
Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Contact Us: Start the discussion
Join Us: Join our community
Subscribe: Newsletter on “the next big thing”
Register: Gain access to visionary innovation
Contact:
Emily Bailey
Best Practices
P: +44-(0)20-7915-7869
emily.bailey@frost.com
Source: Frost & Sullivan

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August 29, 2012 at 1:06 pm

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Has Your Flight Been Delayed, Overbooked or Cancelled? This New App Helps Passengers Get Their Compensation

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POTSDAM, Germany, Aug. 28, 2012 /PRNewswire-Asia/ — Using refund.me, you can check straight away whether you’re eligible for compensation if your fight was problematic: just enter your flight no. and with a few mouse clicks you will find out how much you could be refunded for. The complaint form, which you can complete on the spot and which can be signed online, can be forwarded to the airline directly.

“Until now, many passengers have forfeited their compensation payments because they considered the complaints procedure to be too cumbersome. That’s why we wanted to create a fast method for helping passengers worldwide. You’ll be able to check if you’re eligible for a claim as soon as you leave the airplane. However, if you prefer to take your time with this, you can use http://www.refund.me instead. Flights can be checked and claimed for up to 3 years retrospectively,” explains Eve Buchner, the CEO of refund.me GmbH.

Easy and hassle-free handling

The passenger only has to enter their flight no. and a few additional details into their smart phone and a few seconds later they will know how much they could expect as a refund. The information is adjusted in accordance with EU regulation 261/2004 and other factors. The complaint form is created in real time; it can be signed by mobile phone or online and is transmitted automatically to the respective airline.

Download in English and German

This app is free for iPhone users:http://itunes.apple.com/en/app/refund.me/id524565639. It will shortly be available for Android, Windows and Blackberry. In the meantime you can now open http://www.refund.me on your mobile in order to check it wherever you are.

The Company

refund.me GmbH is a subsidiary of the venture capital business quantumReality GmbH, which has its headquarters in Potsdam. It was established in 2012 and its intention is to make the rights of passengers more transparent, practicable and easier to enforce. The strategic aim is to use complex logic to convert legal ordinances in the area of passenger rights into automated processes.

Contact: refund.me GmbH | Esther Watorowski | +49-163-47-63-758 | press@refund.me

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August 29, 2012 at 11:36 am

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Wing Tai Properties Announces 2012 Interim Results

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Creating Value Through Corporate Restructuring Exercise
Strong Project Pipeline & Market Demand Drive Future Growth

HONG KONG /PRNewswire-Asia/ — Wing Tai Properties Limited (“Wing Tai” or the “Group”, SEHK stock code: 369) today announced the Group’s unaudited consolidated results for the six months ended 30 June 2012.
During the period under review, the Group recorded consolidated profit attributable to equity holders of HK$451.9 million, compared with HK$1,363.5 million during the same period last year. The decrease in profit was mainly due to lower fair value gain on the Group’s investment properties during the period.
The Board of Directors proposed to declare an interim dividend of HK4.2 cents per share (1H 2011:HK3.8 cents), or a total interim dividend payout of HK$56.0 million (1H 2011: HK$50.4 million) based on the total number of shares on 30 June 2012.
Deputy Chairman and Chief Executive of the Group, Mr. Edward Cheng, said: “Despite Hong Kong remaining vulnerable to the lingering global economic instability, the local property sector continued to record stable demand under a low interest rate environment. During this period, while we devoted immense efforts on execution of our property development projects and property sales launches, we have taken strategic steps to continue to transform ourselves into a dynamic and diversified property group with a more streamlined corporate structure.”
During the period under review, the Group carried out two major corporate exercises. In April, the Group disposed its interests in Gieves & Hawkes for an initial cash consideration of HK$408 million, with additional entitlements capped at HK$747 million contingent on Gieves & Hawkes’ revenue growth over the next 18 years. The disposal of this non-core business not only optimized value for its shareholders with immediate cash inflow and reported a gain of HK$276 million, but also allows the Group to be more focused on growing its property businesses.
In May, the Group announced a series of proposed transactions in relation to the listed subsidiary Winsor Properties Holdings Limited (“Winsor Properties”) including group reorganisation, distribution in specie, special cash dividend, disposal of the Group’s entire interest in the reorganised Winsor Properties, and the Group’s offer to acquire independent shareholders’ interest in the distributed asset group. This corporate exercise has streamlined the Group’s overall corporate structure, enhanced its financial position and shareholders’ value by creating a solid platform with greater financing capability to support its future growth. As a result, the Group has reduced the existing holding company discount, consolidated its property interest with more direct control over the portfolio of investment properties, as well as increase recurring earnings and cash flow going forward. The related gain on disposal and accretion to shareholders’ equity will be realised and reported in the second half of this year.
BUSINESS REVIEW
Property Development
During the period under review, revenue and operating profit generated from this segment amounted to HK$208 million and HK$99 million respectively.
The two remaining special units at Forfar were sold for HK$207.4 million revenue. Seymour, in which the Group has a 30% interest, was re-launched in June 2012 with good market reception. Almost all units pre-sold in late 2009 were handed over to owners in the first half of 2012.
The Warren, the Group’s development in Tai Hang was launched for pre-sale in November 2011 and over 55% of the units have been pre-sold to date. Superstructure works are in progress. The project is scheduled for completion in 2014.
The Pak Shek Kok development at Tai Po is at varying stages of development. Providence Peak was launched for pre-sale in May 2012 and over 27% of the units have been pre-sold to date. Meanwhile, Providence Bay has sold over 45% of the units since its pre-sale launched in November 2011. Application for presale consent has been submitted for the remaining lot. The entire development is expected to be completed in phases between 2012 and 2013.
Foundation works for The Pierre at the Mid-Levels are progressing well. This project is scheduled for completion in 2014.
Foundation works for the residential development at Ko Shan Road in Hung Hom, in which the Group has a 50% interest in the joint venture with the Nan Fung Group, are progressing on schedule. The development is scheduled for completion in 2015.
At Belle Vue Residences, a luxury residential development in Singapore, 91% of the units have been sold, out of which 9% were sold in the first half of 2012.
Property Investment and Management
During the period under review, revenue and operating profit of this segment increased 18% and 13% to reach HK$268 million and HK$161 million respectively as compared to the corresponding period in 2011.
As at 30 June 2012, excluding Regent Centre to be disposed of after 30 June 2012, the Group’s portfolio of investment properties, comprising 1.5 million square feet of Grade A office buildings and 0.7 million square feet of industrial buildings in the urban areas of Kowloon, had an aggregate fair market valuation of HK$11,067.7 million.
Landmark East continued to maintain near-full occupancy with spot rent continuing to increase. As at 30 June 2012, W Square achieved an occupancy rate of over 90% while the average occupancy rate for the industrial properties is approximately 94%.
The Group has a 50% interest in the Lujiazui property at Shanghai Pudong’s financial and commercial district fronting the Bund. The property is under construction and is scheduled for completion in 2013.
Hospitality Investment and Management
The Group’s hospitality business under Lanson Place Management recorded a steady profit in the first half of 2012, with a gradual increase in average rental rate despite the softening of Hong Kong hotel market and refurbishment of Lanson Place Hotel. During the period under review, revenue increased 3% to HK$69 million as compared to the corresponding period in 2011 while operating profit was HK$31 million.
As at 30 June 2012, both Lanson Place Jinlin Tiandi Serviced Residences in Shanghai and Lanson Place Central Park Serviced Residences in Beijing achieved over 90% occupancy. Lanson Place Hotel, our luxury boutique hotel in Hong Kong, continues to be well-recognised by travellers and won various awards including the Asia Pacific Hotels Awards “The Best Hotel, Hong Kong 2012”, the Travel & Leisure Magazine’s 2011 Annual Travel Awards “2011 Best Boutique Hotel” and the TripAdvisor “Top 25 Trendiest Hotels in China”.
PROSPECTS
Looking forward, the global economy is likely to stay volatile for the rest of 2012, leading to slowing economic growth in China and Hong Kong. There is uncertainty where the Hong Kong property market is heading under the new government housing policy. However, given Hong Kong’s solid economic fundamentals, steady market demand, continued low interest rate environment, and potential increase in land supply by the government, the Group remains cautiously optimistic on the prospects of Hong Kong’s property market.
The financial impact of the corporate exercise on Winsor Properties will be fully reflected in the second half of 2012, including as estimated gain on disposal of approximately HK$240 million and accretion of shareholders’ equity of approximately HK$630million, subject to audit.
In property development, earnings and cash flow in the second half will be driven by sales at Seymour, Providence Bay and Belle Vue Residences. The occupation permit for the various phases of Providence Bay is expected to be granted in the fourth quarter, upon which the revenue and profit of all sold units and new sales will be recognized. Subject to market conditions, the Group will re-launch The Warren and release for pre-sale The Pierre in Mid-Levels. The Group will closely monitor the market to identify the right window of opportunity to launch its projects, and continue to acquire new sites to replenish land bank for further expansion.
For investment property business, the Group expects to continue to benefit from the strong demand arising from the tight office supply, decentralization trend and development of Kowloon East. Landmark East and other properties are likely to see further upward rental reversion with high occupancy. The Group expects its dynamic portfolio of boutique hotel and serviced residences to continue delivering good operating performance. At the same time, Lanson Place will actively explore investment and management opportunities in the region for further expansion.
Mr. Cheng concludes: “Barring unforeseen circumstances, the results for the coming full year are expected to be promising with the recognition of development project earnings and increasing recurring income. With an enhanced platform and strengthened balance sheet, we will remain vigilant against any near-term market volatility and work diligently to execute our projects and capture expansion opportunities.”
About Wing Tai Properties Limited
The business of Wing Tai Properties Limited (SEHK stock code: 369) (Previously known as USI Holdings Limited) spans three core areas: property development under the Wing Tai Asia brand; property investment and management arm; and the hospitality investment and management arm under its Lanson Place brand in Hong Kong, Shanghai, Beijing, Singapore and Kuala Lumpur. Wing Tai Properties was listed on the Stock Exchange of Hong Kong Limited in 1991.
CONDENSED CONSOLIDATED INCOME STATEMENT
For the six months ended 30 June 2012
Unaudited
Six months ended 30 June
2012 2011
HK$’M HK$’M
(re-presented)

Continuing operations
Revenue 652.7 921.5
Cost of sales (233.8) (478.9)
_________ _________
Gross profit 418.9 442.6
Other gains, net 22.8 41.5
Selling and distribution costs (47.5) (40.8)
Administrative expenses (142.8) (126.4)
Change in fair value of investment properties 60.2 1,491.2
_________ _________
Profit from operations 311.6 1,808.1
Finance costs (47.8) (43.4)
Finance income 5.0 3.4
Share of results of associates 31.9 46.8
_________ _________
Profit before taxation from continuing operations 300.7 1,814.9
Taxation (47.5) (55.2)
_________ _________
Profit for the period from continuing operations 253.2 1,759.7

Discontinued operations
Loss for the period from discontinued operations (22.3) (25.2)
Gain on disposal of subsidiaries 275.6 –
_________ _________
253.3 (25.2)
_________ _________
Profit for the period 506.5 1,734.5
_________ _________
Attributable to:
Equity holders of the Company
– From continuing operations 198.6 1,388.7
– From discontinued operations 253.3 (25.2)
_________ _________
451.9 1,363.5
Non-controlling interests
– From continuing operations 54.6 371.0
_________ _________
506.5 1,734.5
_________ _________
CONDENSED CONSOLIDATED INCOME STATEMENT (cont’d)
For the six months ended 30 June 2012

Unaudited
Six months ended 30 June
2012 2011
HK$’M HK$’M
(re-presented)
Earnings/(loss) per share attributable to
equity holders of the Company
(expressed in HK dollar per share)

Basic earnings/(loss) per share
– From continuing operations HK$0.15 HK$1.05
– From discontinued operations HK$0.19 HK$(0.02)
_________ _________
HK$0.34 HK$1.03
_________ _________

Diluted earnings/(loss) per share
– From continuing operations HK$0.15 HK$1.04
– From discontinued operations HK$0.19 HK$(0.02)
_________ _________
HK$0.34 HK$1.02
_________ _________

Dividends (expressed in HK$’M) 158.4 136.6
_________ _________
CONDENSED CONSOLIDATED BALANCE SHEET
As at 30 June 2012
Unaudited Audited
30 June 2012 31 December 2011
HK$’M HK$’M
ASSETS AND LIABILITIES
Non-current assets
Land use rights 3.2 3.2
Investment properties 12,896.1 13,894.0
Other properties, plant and equipment 121.5 180.9
Interests in associates 426.1 469.5
Loans to associates 44.7 47.8
Deposits and loan receivables 350.9 306.1
Available-for-sale financial assets 375.2 357.7
Held-to-maturity investments 50.7 65.8
Deferred tax assets 12.6 9.4
Derivative financial instruments 0.2 0.2
_________ _________
14,281.2 15,334.6
_________ _________
Current assets
Inventories 72.4 68.8
Properties for sale 4,332.6 4,227.9
Deposits and loan receivables 168.7 175.0
Trade and other receivables, deposits
and prepayments 389.2 871.8
Available-for-sale financial assets 88.6 –
Held-to-maturity investments 80.9 29.2
Sales proceeds held in stakeholders’ accounts 243.0 146.4
Amounts due from associates 3.7 2.2
Tax recoverable 0.1 0.8
Pledged and restricted bank deposits 11.0 3.5
Bank balances and cash 1,942.4 976.6
_________ _________
7,332.6 6,502.2
Assets of a disposal group classified as held for sale 1,138.3 –
_________ _________
8,470.9 6,502.2
_________ _________
Current liabilities
Trade and other payables and accruals 1,269.3 907.9
Derivative financial instruments 46.7 45.8
Amounts due to associates 0.3 0.3
Tax payable 122.2 90.7
Bank loans due within one year 2,100.3 1,704.6
_________ _________
3,538.8 2,749.3
Liabilities of a disposal group associated with
assets held for sale 169.1 –
_________ _________
3,707.9 2,749.3
_________ _________

Net current assets 4,763.0 3,752.9
_________ _________
CONDENSED CONSOLIDATED BALANCE SHEET (cont’d)
As at 30 June 2012

Unaudited Audited
30 June 31 December
2012 2011
HK$’M HK$’M

Total assets less current liabilities 19,044.2 19,087.5
_________ _________

Non-current liabilities
Bank loans due after one year 2,923.7 3,448.6
Other long-term loans – 35.5
Derivative financial instruments 58.0 67.2
Deferred tax liabilities 144.7 153.5
_________ _________
3,126.4 3,704.8
_________ _________
NET ASSETS 15,917.8 15,382.7
_________ _________

EQUITY
Equity attributable to
equity holders of the Company
Share capital 666.1 663.2
Reserves 12,768.6 12,284.5
_________ _________
13,434.7 12,947.7
Non-controlling interests 2,483.1 2,435.0
_________ _________
TOTAL EQUITY 15,917.8 15,382.7
_________ _________
Source: Wing Tai Properties Limited

Written by asiafreshnews

August 29, 2012 at 9:58 am

Saturn Petrochemical Holdings Limited And SouthernPec Corporation Unveil Plan To Restructure Titan Petrochemicals Group Limited (“ListCo”)

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– Compelling restructuring plan to deliver significant advantages to stakeholders

– Opportunity to leverage synergies between SouthernPec Corporation and ListCo

– Raising asset productivity and enhancing business to assist ListCo’s rapid return to profitability and long term growth

GUANGZHOU, China and HONG KONG, Aug. 27, 2012 /PRNewswire-Asia/ — Saturn Petrochemical Holdings Limited (“SPHL”), an affiliate of Warburg Pincus LLC (“Warburg Pincus”), and SouthernPec Corporation (“SP”) today announced that a joint venture company ( “Joint Venture Co”) has been formed for the purposes of submitting a detailed proposal (“Proposal”) to restructure Titan Petrochemicals Group Limited (SEHK: 1192, “ListCo”) to court appointed restructuring professionals.

ListCo is currently insolvent, and has experienced three failed debt restructurings in the past three years, with aggregate net losses of over USD452 million in the past five years.

The Proposal includes (as set out in more detail below) the Joint Venture Co subscribing for new equity in ListCo, injection of capital, a comprehensive restructuring of ListCo’s debts, and a tender offer to existing creditors for an immediate cash return in respect of a proportion of their respective claims. It provides ListCo the ability to implement a genuine restructuring on an expedited basis under the supervision of the court, and gives ListCo the opportunity to continue as a going concern with a substantially reduced debt burden, thereby preserving value for all stakeholders, including creditors, shareholders and employees alike.

The Proposal is to be considered, along with all other available alternative proposals and options, by licensed restructuring professionals who are expected to be appointed as joint provisional liquidators (“JPLs”) of ListCo by the Bermuda Court on September 5, 2012, pursuant to a petition and a summons filed by SPHL on July 5, 2012 and August 24, 2012 respectively. The authority of the Board to act on behalf of ListCo will be immediately revoked on the appointment of the JPLs.

The expected appointment of the JPLs over ListCo on September 5, 2012 follows steps successfully taken by Saturn Storage Limited (another Warburg Pincus affiliate) on July 16, 2012 to have liquidators appointed over ListCo’s main subsidiary, Titan Group Investment Limited (“TGIL”), again in order to effect the implementation of a viable restructuring.

Mr. Xiao Liangping, Chairman and President of SP, a market leader in trading, large-scale storage and shipping logistics of oil products and chemicals, said: “We are delighted that Warburg Pincus has invited us to join forces in the proposed restructuring of ListCo. We believe significant synergies exist between SP’s current businesses and those of ListCo. Through injection of capital, potential injection of assets, deployment of an experienced management team and the development of a blueprint for growth, the joint venture will provide necessary operational and financial support to rescue ListCo from financial insolvency, help return ListCo to profitability and to build its long term potential.”

Dr. Bo Bai, Executive Director from Warburg Pincus, commented: “The joint venture Proposal delivers superior returns when compared to the alternative being offered by ListCo. By partnering with SouthernPec Corporation, we will offer ListCo the opportunity to turn its declining business into a successful enterprise with a profitable future and bright prospects for accelerated growth. However, this opportunity can only be achieved with the appointment of independent, third parties with specialized restructuring expertise who would manage ListCo in the best interests of shareholders, bondholders, creditors and other stakeholders, pending the implementation of the restructuring plan. ”

Highlights of the Proposal:

— A Joint Venture Co will subscribe to new equity comprising of
88% of ListCo’s post-dilution equity for a consideration of
HKD208 million (approx. USD26.84 million) in cash and up to
HKD382 million (approx. USD49.28 million) of SPHL’s claims
under ListCo preferred shares it holds. Subscription price
will be HKD0.1 per share after capital reorganization
(“Subscription Price”);
— SPHL’s creditor claim against ListCo will be converted to equity,
SPHL will no longer have an outstanding creditor claim,
therefore ListCo’s total debts will be significantly lowered;
— SPHL and Saturn Storage will assign the proceeds of any legal
claims against ListCo in excess of USD50 million back to ListCo;
— New Bonds with a face value of 80% and bearing zero interest and
a tenor of 6 years will be issued to scheme creditors;
— A tender will be conducted for the New Bonds in an amount of
USD25 million at up to 40% of their face value;
— USD12.5 million of proceeds from ListCo’s claims in TGIL
(In Liquidation) will be utilized for pro-rata redemption of
the New Bonds at par value;
— In the event that certain conditions (including the consent of the
existing shareholders of ListCo) are not obtained for the
restructuring plan, Joint Venture Co will instead acquire all of
the assets and undertaking of ListCo and itself issue the New
Bonds. The financial terms offered to creditors of ListCo under
the restructuring plan will remain materially the same;
— Replacement of the current ListCo management team with SP’s
experienced management team who have developed a successful and
profitable trading, shipping and logistics business;
— Appointment of provisional liquidators to oversee the restructuring
of ListCo’s assets and debts in a process that is transparent,
fair, and just.

The Proposal demonstrates distinctive advantages over the ListCo’s other proposal:

— Total consideration of the Proposal is approximately HKD590 million,
3.4 times the consideration of ListCo’s other proposal;
— Subscription Price for shareholders 4 times the offer from ListCo’s
other proposal (HKD0.10 vs HKD0.025);
— 25% greater immediate cash recovery for creditors;
— SPHL, potentially the largest single creditor of ListCo, will no
longer be part of the creditor group after conversion of its claim
to equity, thereby increasing the recovery available to other
creditors by approximately 30%;
— Shorter tenor of New Bonds (6 years vs 7-10 years);
— The Proposal is not dependent on ListCo’s shareholder approvals
and the level of recovery is not dependent on the StorageCo’s liquidation;
— Unlike the ListCo’s management who have failed to address the
fundamental problems facing its business and have only tried to
defer the problems yet again, the management of SP has a detailed
operational restructuring plan in place to present to provisional
liquidators in due course that could rapidly return ListCo to
profitability;
— Strong synergies between SP’s existing businesses and ListCo’s:
— Subsequent to closing of the restructuring plan, SP intends
to inject certain assets including, but not limited to, 4 Very
Large Crude Carriers (VLCCs), 5 refueling ships and 2 chemicals
tankers;
— Potential to utilize SP’s strong relationships with shipping
companies to increase Shipyard utilization;
— Consolidation in the independent offshore floating storage segment
in Singapore and Malaysia will assist in returning ListCo’s offshore
storage business to profitability;
— Ships potentially injected by SP will provide additional source of
captive ship repair, conversion business for the ListCo Quanzhou
Shipyard;
— SP’s plan to expand its existing fleet based on operational
development and market demand also represents a future new source
of construction business for the Shipyard.

About SouthernPec Corporation
SP, established in 2002, is an integrated company in the energy and petrochemical industry with business covering trade, logistics, manufacturing and project investment. In 2010 and 2011, SP was listed in China Top 500 Enterprises.

SP’s storage and logistics business is a comprehensive logistics industrial chain covering storage terminals, land and sea transportation, pipeline transfer and marine fuel supply. The storage business, based on storage functions as the core foundation, extends to bonded warehouse storage, delivery warehouse services, supervised warehouse services, simple oil blending and other value-added services. Since its inception, SP has transformed into an international energy enterprise with operations in China, Asia, Europe, the United States, and Africa.

About SPHL
SPHL is an affiliate of Warburg Pincus. SPHL has invested in ListCo since 2007 and holds a preferred equity stake of 555,000,000 shares with a par value of USD40 million in ListCo.

About Warburg Pincus
Warburg Pincus is a leading global private equity firm focused on growth investing. The firm has more than US$30 billion in assets under management. Its active portfolio of more than 125 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 13 private equity funds which have invested more than US$40 billion in over 650 companies in more than 30 countries.

Since inception, the firm has provided over $6 billion of equity for companies around the world involved in oil and gas exploration and production, midstream, power generation, oilfield technology and related-services, and alternative energy development. Warburg Pincus has been the lead investor in several dozen energy companies including: Antero Resources, Asian American Gas, Bill Barrett Corporation, Canbriam Energy, ElectroMagnetic GeoServices, Fairfield Energy, IMC Limited, Kosmos Energy, MEG Energy, Newfield Exploration, Spinnaker Exploration and Targa Resources.

Since the firm’s first investment in China in 1994, Warburg Pincus has invested in more than US $3 billion in companies including 7 Days Inn, AsiaInfo, Guangzhou R&F Properties, Harbin Pharmaceutical, Intime, Lepu Medical, RDA Microelectronics and China Red Star Macalline.

The firm is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mauritius, Mumbai, San Francisco, Sao Paulo and Shanghai. For more information, please visit http://www.warburgpincus.com.

For media enquiries, please contact:

Pui Shan Lee Ray Bashford
FTI Consulting FTI Consulting
+86 21 5108 8002 ext.178 +852 3768 4536
ps.lee@fticonsulting.com ray.bashford@fticonsulting.com

Ed Trissel Jeffrey Smith
Warburg Pincus Warburg Pincus
+1 212.878.9288 +1 212.878.9205

SOURCE﹛Saturn Petrochemical Holdings Limited; SouthernPec Corporation

Written by asiafreshnews

August 28, 2012 at 12:08 pm

Posted in Uncategorized

World Water Week Opens With Call for Global Action to Reduce Food Waste

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STOCKHOLM, Aug. 27, 2012/PRNewswire-Asia/ —

Global leaders assembled today at the opening session of the 2012 World Water Week in Stockholm called for substantial increases in public and private sector investment to reduce losses of food in the supply chain, enhance water efficiency in agriculture and curb consumer waste.

Over two thousand politicians, CEOs, scientists and leaders of international organisations from more than 100 nations are gathering in Stockholm, Sweden, for the annual World Water Week, which this year focuses on “Water and Food Security”.

Today, over 900 million people suffer from hunger and two billion more people face serious health risks from undernourishment. At the same time, 1.5 billion people overeat and over one-third of all food is lost or wasted.

“More than one-fourth of all the water we use worldwide is taken to grow over one billion tons of food that nobody eats. That water, together with the billions of dollars spent to grow, ship, package and purchase the food, is sent down the drain,” said Mr. Torgny Holmgren, Executive Director of the Stockholm International Water Institute (SIWI), the organiser of the World Water Week in Stockholm.

“Reducing the waste of food is the smartest and most direct route to relieve pressure on water and land resources. It’s an opportunity we cannot afford to overlook,” he added.

In the over 100 sessions set to take place throughout the week, the convening experts will debate and showcase solutions to ensure that the planets limited water resources can meet the needs of growing economies and support a healthy global population. During the week, H.M. King Carl XVI Gustav of Sweden will present the Stockholm Water Prize to the International Water Management Institute, IWMI, for their work to improve agriculture water management, enhance food security, protect environmental health and alleviate poverty in developing countries. Other prizes that will be presented during the week are the Stockholm Junior Water Prize – which is given to one national team from 27 competing nations, and the Stockholm Industry Water Award, which will be presented this year to PepsiCo for their efforts to reduce water consumption in their operations and to help solve water challenges on a broad scale.

Read the full press release at http://www.worldwaterweek.org/pressreleases. For press kit, background facts, photos and video, visit: http://www.worldwaterweek.org/media.

SOURCE﹛Stockholm International Water Institute

Written by asiafreshnews

August 28, 2012 at 11:14 am

Posted in Uncategorized

Daiichi Sankyo and Lilly Announce TRILOGY ACS Results Regarding Effient(R) (Prasugrel) in Acute Coronary Syndrome UA/NSTEMI Patients to be Managed Medically without an Artery-Opening Procedure

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Study did not meet primary objective of demonstrating prasugrel superiority over clopidogrel in this patient population

INDIANAPOLIS and TOKYO/PRNewswire-Asia/ — Daiichi Sankyo Company, Limited (TSE: 4568), and Eli Lilly and Company (NYSE: LLY) today announced data from the TRILOGY ACS study, a phase III trial comparing prasugrel plus aspirin to clopidogrel plus aspirin in patients with unstable angina (UA) or non-ST elevation myocardial infarction (NSTEMI), who were managed medically without an artery-opening procedure. At 30 months, 13.9 percent of prasugrel patients versus 16.0 percent of clopidogrel patients experienced the combined primary endpoint of heart attack, stroke or cardiovascular (CV) death in patients under 75 years of age, the primary analysis population (HR=0.91; 95% CI: 0.79-1.05).[1] This outcome was not statistically significant (P=0.21). Different from other large-scale trials, TRILOGY ACS (TaRgeted platelet Inhibition to cLarify the Optimal strateGy to medicallY manage Acute Coronary Syndromes) prospectively studied only the UA/NSTEMI population medically managed without revascularization (percutaneous coronary intervention (PCI) or coronary artery bypass graft (CABG) surgery).[2] Results of this study were published in the New England Journal of Medicine and also presented during a late-breaking session at the ESC Congress 2012 (European Society of Cardiology) in Munich, Germany.

From a safety perspective, TRILOGY ACS showed that rates of TIMI major bleeding events (including life-threatening or fatal bleeds) did not differ significantly between the prasugrel plus aspirin and clopidogrel plus aspirin treatment groups in patients less than 75 years of age or in the overall study population.[1] In patients under age 75, non-CABG TIMI major bleeding occurred in 2.1 percent of prasugrel patients versus 1.5 percent of clopidogrel patients (HR=1.31, 95% CI: 0.81-2.11, P=0.27).[1] However, the rates of TIMI major or minor bleeding were higher in patients treated with prasugrel (3.3 percent of prasugrel patients versus 2.1 percent of clopidogrel patients; HR=1.54; 95% CI: 1.06-2.23; P=0.02).[1]
“TRILOGY ACS was designed to evaluate dual oral antiplatelet therapy in UA/NSTEMI patients who are managed medically without revascularization,” said E. Magnus Ohman, M.D., Duke Clinical Research Institute and Chairperson of the TRILOGY ACS trial. “While the study did not demonstrate prasugrel was superior to clopidogrel in these patients, TRILOGY ACS provided some additional observations in this previously understudied population. The delayed treatment effect beyond 12 months observed in TRILOGY ACS had not been seen in earlier studies of shorter duration.”
An analysis performed to account for multiple recurrent ischemic events suggested a lower risk among participants <75 years treated with prasugrel (HR=0.85; 95% CI: 0.72-1.00; P=0.044).[1]
A post-hoc exploratory analysis observed a trend for a lower risk in heart attack, stroke and death among patients treated with prasugrel beyond one year; HRs and 95% CIs for the time period of <12 months versus the time period of >12 months comparing prasugrel versus clopidogrel for the primary efficacy endpoint were 0.99 (0.84-1.16) versus 0.72 (0.54-0.97) (interaction P=0.07).[1]
“Large-scale clinical trials in understudied populations, such as TRILOGY ACS, are important regardless of the result because they generate a sizeable amount of information for the medical community,” said J. Anthony Ware, M.D., Group Vice President and Cardiovascular/Acute Care Platform Leader, Eli Lilly and Company. “We look forward to presenting additional data from the platelet function sub-study, analyses of the elderly population data, as well as genomics information in future peer-reviewed forums.”
“While this is not the outcome we anticipated, we believe this study contributes to the knowledge base about ACS patients who are medically managed,” said Glenn Gormley, M.D., Ph.D., Global Head of Research & Development and Senior Executive Officer, Daiichi SankyoCompany, Limited. “The group of patients in the TRILOGY ACS trial is different from those who participated in the prior TRITON-TIMI 38 trial, where almost all ACS patients underwent percutaneous intervention.”
The TRILOGY ACS study was conducted by Daiichi Sankyo and Eli Lilly and Company in conjunction with the Duke Clinical Research Institute, one of the world’s leading academic clinical research organizations and a part of Duke University Medical Center in Durham, North Carolina, United States. Granted marketing authorization by the European Commission in February 2009, Efient® (prasugrel), co-administered with acetylsalicylic acid (ASA), is indicated for the prevention of atherothrombotic events in patients with acute coronary syndrome (ACS) (i.e. unstable angina, non-ST segment elevation myocardial infarction [UA/NSTEMI] or ST segment elevation myocardial infarction [STEMI]) undergoing primary or delayed percutaneous coronary intervention (PCI).[3] The Efient indication is based on the results of the TRITON-TIMI 38 trial.
About TRILOGY ACS
TRILOGY ACS (TaRgeted platelet Inhibition to cLarify the Optimal strateGy to medicallY manage Acute Coronary Syndromes) began in June 2008 and reached a total enrollment of 9,326 patients at more than 900 hospitals in 52 countries worldwide.[2]
TRILOGY ACS was a multi-center, double-blind, randomized, controlled trial to evaluate the safety and efficacy of prasugrel plus aspirin compared to clopidogrel plus aspirin in UA/NSTEMI patients who were to be medically managed without revascularization.[2] The primary endpoint was the time to occurrence of the first instance of the composite endpoint of CV death, heart attack or stroke.[2] The sample size in the trial was selected to detect a 22 percent relative risk reduction in patients treated for up to 30 months with prasugrel compared with clopidogrel.[2]
Inclusion criteria for the study included at least one of the following high-risk features in UA/NSTEMI patients: age greater than 60 years, prior myocardial infarction, diabetes mellitus, and/or prior revascularization (PCI or CABG).[2] Exclusion criteria included planned PCI or CABG, STEMI as the initial event, and medical management decision more than 72 hours after onset of event without clopidogrel treatment.[2]
Prasugrel loading and maintenance dosages in TRILOGY ACS were adjusted for the medically managed patient population enrolled and differ from the current indicated dosages for ACS-PCI patients.[2] Patients under the age of 75 and weighing more than 60 kg received a 10 mg maintenance dose of prasugrel. Prasugrel dosage adjustments (5 mg) were made for very elderly patients (75 years of age and older) and for those <60 kg; patients with prior TIA/stroke were excluded.[2]
The current prasugrel indication in ACS patients intended for planned PCI, is a single 60 mg loading dose (LD) followed by a once-daily 10 mg maintenance dose (MD).[3] A single 60 mg loading dose of prasugrel followed by a maintenance dose of prasugrel at a 5 mg once daily dose, co-administered with aspirin, should be used in lower weight patients (<60 kg) with ACS-PCI.[3]
Safety endpoints evaluated included bleeding as measured by GUSTO and TIMI criteria; plus systematic collection of neoplasm data (all suspected events to be adjudicated by an Oncology Clinical End Point Committee).[2]
More than 90 percent of the patients in the study were treated with clopidogrel prior to randomization, per the guidelines for secondary prevention.[1] Although all patients in the study were committed to be treated medically without revascularization for the index event, a small percentage of patients less than 75 years of age underwent revascularization (7.9 percent) after randomization.[1]
More information on the TRILOGY ACS trial and its design is available at:http://clinicaltrials.gov/ct2/show/NCT00699998.
About prasugrel
Daiichi Sankyo Company, Limited, and Eli Lilly and Company co-developed prasugrel, an oral antiplatelet agent discovered by Daiichi Sankyo and its Japanese research partner, Ube Industries, Ltd. Prasugrel helps keep blood platelets from clumping together and developing a blockage in an artery. The European Commission granted marketing authorization for prasugrel for the prevention of atherothrombotic events in patients with ACS undergoing PCI, in combination with aspirin, in 2009.[3] To date prasugrel has been approved in more than 65 countries worldwide.
About Acute Coronary Syndromes
Acute coronary syndrome includes heart attacks and unstable angina (UA, chest pain). Heart attack is a major manifestation of coronary heart disease (CHD), which occurs when the arteries become narrowed or clogged by cholesterol and fat deposits. In some cases the plaque can rupture, resulting in a blood clot which may partially or totally block the blood supply to portions of the heart, resulting in ACS.[4] There are two main types of heart attack: Non-ST-segment elevation, or NSTEMI, and ST-segment elevation, or STEMI.[4] STEMI heart attacks are often considered more severe as the artery is often fully blocked, preventing blood flow to the heart.
CHD is the single most common cause of death in the European Union, accounting for more than 741,000 deaths in the EU each year.[5] ACS affects more than one million people in the United States annually.[6] In Korea, the total number of ACS events rose by 70 percent in just five years (2004 – 2009).[7]
Many ACS patients undergo PCI to re-open the artery, which usually includes a stent placement. The number of UA or NSTEMI ACS patients worldwide who are managed without acute coronary interventions, such as PCI, has ranged from 32 percent to almost 60 percent over the last few years.[8],[9] In many cases, these ACS patients may have complex coronary anatomy, comorbidities or other high-risk factors that prevent PCI or surgical intervention.[9]
About Daiichi Sankyo
The Daiichi Sankyo Group is dedicated to the creation and supply of innovative pharmaceutical products to address the diversified, unmet medical needs of patients in both mature and emerging markets. While maintaining its portfolio of marketed pharmaceuticals for hypertension, hyperlipidemia, and bacterial infections, the Group is engaged in the development of treatments for thrombotic disorders and focused on the discovery of novel oncology and cardiovascular-metabolic therapies. Furthermore, the Daiichi Sankyo Group has created a “Hybrid Business Model,” which will respond to market and customer diversity and optimize growth opportunities across the value chain. For more information, please visit http://www.daiichisankyo.com.
About Eli Lilly and Company
Lilly, a leading innovation-driven corporation, is developing a growing portfolio of pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Ind., Lilly provides answers – through medicines and information – for some of the world’s most urgent medical needs. Additional information about Lilly is available at http://www.lilly.com.
This press release contains certain forward-looking statements about prasugrel in acute coronary syndrome UA/NSTEMI patients to be managed medically without an artery-opening procedureand reflects Daiichi Sankyo’s and Lilly’s current beliefs. However, as with any pharmaceutical product, there are substantial risks and uncertainties in the process of development and commercialization. There is no guarantee that future study results and patient experience will be consistent with study findings to date or that the product will meet our commercial expectations. For further discussion of these and other risks and uncertainties, see Lilly’s filing with the United States Securities and Exchange Commission and Daiichi Sankyo’s filings with the Tokyo Stock Exchange. Daiichi Sankyo and Lilly undertake no duty to update forward-looking statements.
Effient® is a registered trademark of Eli Lilly and Company.
P-LLY
[1] Roe MT, Armstrong PW, Fox KAA, et al. Prasugrel versus Clopidogrel for Acute Coronary Syndromes without Revascularization. N Engl J Med. Published online August 26, 2012. DOI: 10.1056/NEJMoa1205512.
[2] Chin CT, Row MT, Fox KAA, et al. Study design and rationale of a comparison of prasugrel and clopidogrel in medically managed patients with unstable angina/non-ST-segment elevation myocardial infarction: The TaRgeted platelet Inhibition to cLarify the Optimal strateGy to medicallY manage Acute Coronary Syndromes (TRILOGY ACS) trial. Am Heart J. 2010:160:16-22.
[3] European Medicines Agency. Efient Summary of Product Characteristics. Electronic Medicines Compendium website. Available at: http://www.ema.europa.eu/docs/en_GB/document_library/EPAR_-_Product_Information/human/000984/WC500021971.pdf. Accessed August 2012.
[4] WebMD Medical Reference in Collaboration with the Cleveland Clinic. Heart Disease: Coronary Artery Disease. Available at: http://www.webmd.com/heart-disease/guide/heart-disease-coronary-artery-disease. Accessed May 2012.
[5] British Heart Foundation Health Promotion Research Group. European Cardiovascular Disease Statistics 2008. Available at: http://www.bhf.org.uk/research/statistics.aspx. Accessed May 2012.
[6] Roger VL, Go AS, Lloyd-Jones DM, et al. for the American Heart Association Statistics Committee and Stroke Statistics Subcommittee. Heart disease and stroke statistics – 2012 update. Circulation. 2012;125:e2-e220.
[7] Kim JH et al. A national survey of societal cost of acute coronary syndrome in South Korea. Poster presented at ISPOR 13th Annual European Congress 2010; November 2010; Prague, Czech Republic.
[8] Fox KAA, Steg PG, Eagle KA, et al. Decline in rates of death and heart failure in acute coronary syndromes, 1999-2006. J Am Med Assoc. 2007;297:1892-1900.
[9] Chan MY, Mahaffey KW, Sun LJ, et al. Prevalence, predictors, and impact of conservative medical management for patients with non-ST-segment elevation acute coronary syndromes who have angiographically documented significant coronary disease. J Am Coll Cardiol. 2008;1:369-378.
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Source: Eli Lilly and Company; Daiichi Sankyo

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August 28, 2012 at 11:12 am

Posted in Healthcare