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Western Union to Launch International Money Transfer Services in Myanmar

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Myanmar Oriental Bank first Agent signed, as Western Union poised to expand sign-ups and link its global network to Myanmar
ENGLEWOOD, Colo. /PRNewswire/ — The Western Union Company (NYSE: WU), a global leader in payments, today announced the signing of Myanmar Oriental Bank, its first Agent to offer Western Union® Money Transfer(SM) Services in Myanmar, offering its citizens a reliable and swift way to receive money from family and loved ones from outside Myanmar.
Western Union’s decision to expedite the launch of its international money transfer services in Myanmar positions the company as one of the first global money transfer operators, paving the way for formalized international money transfers, three months after countries led by the US, European Union and Australia decided to lift investment and trade bans against Myanmar.
Over two million Myanmarese (Note 1) are estimated to be employed across Thailand, Malaysia, Singapore, Bangladesh, Japan, South Korea, US, Europe and Australia.
Myanmar Oriental Bank, a leading domestic bank in Myanmar operational for 19 years, is among the first batch of private banks to be authorized to operate foreign currency services in Myanmar.
With a network of 19 locations, including representation in main commercial cities of Yangon, Mandalay, Mawlamyaing and Monywa, the Bank will work with Western Union to activate its services expeditiously in keeping with Central Bank regulations.
“We welcome Myanmar into our global network of operating countries and territories and are pleased to work towards activating much needed international money transfer services into Myanmar,” said Drina Yue, Managing Director and Senior Vice President, Western Union, Asia Pacific.
“We are proud to provide a reliable financial link between overseas Myanmarese and their families back home. Our aim is to expand our network expeditiously and provide 100 percent coverage of countries popular with millions of Myanmarese abroad,” she said.
“We are encouraged by the speed in which Myanmar Oriental Bank, the Myanmar Central Bank and others in Myanmar are facilitating economic change for the people of Myanmar. Western Union is pleased to be a part of this defining economic change in Myanmar,” Ms Yue said.
“We are extremely proud to be linked into Western Union’s impressive global network linking Myanmar to the rest of the world,” said Mr. Mya Than, Chairman of Myanmar Oriental Bank.
Note 1: Western Union Business intelligence sourced from national Central Bank data.
About Western Union
The Western Union Company is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. The Western Union, Vigo and Orlandi Valuta branded services are offered through a combined network of approximately 500,000 agent locations in 200 countries and territories. In 2011, The Western Union Company completed 226 million consumer-to-consumer transactions worldwide, moving $81 billion of principal between consumers, and completed 425 million business payments.
About Myanmar Oriental Bank
Over the past 19 years, the bank has grown as one of the leading domestic banks in Myanmar – contributing its efficient and reliable banking services to the promotion of financial intermediation in the country.
With its banking network of 19 branches, the bank accepts current, fixed and saving deposits, and extends commercial loans and offers other facilities including remittance and trustee services to its customers.
The bank takes pride to be among the selected few allowed to engage in foreign banking where the bank is eager to facilitate foreign banking services to its customers. It was also among the first batch of six private banks to be permitted to open currency exchange counters including in the commercial cities of Yangon, Mandalay, Mawlamyaing and Monywa.
The bank has a subsidiary leasing company, the Oriental Leasing Company Limited (OLCL), which extends financial assistance to its customers in acquiring their household and other durable consumer items. This is the first ever leasing company in Myanmar.
As a leading member bank in the Myanmar Payment Union, the bank has introduced ATMs and debit card facility for the promotion of electronic payment system in the country.
As of 31 Mar 12 (end of their financial year): Myanmar Oriental Bank’s total income was about 11 bil Kyat (US$12.6M) and net profit was US$2.7M. With registered capital of US$5.75M, this represents 47% ROE, and 2.26% ROA. Interest income from loans and investment accounts for about 85% of its total income.
Media contacts
For more information, please contact
Western Union Asia Pacific
Pia De Lima
+852-9261-8155
Pia.delima@westernunion.com
Source: Western Union

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September 13, 2012 at 4:11 pm

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VWR International, LLC Acquires Sovereign Group

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VWR expands its global footprint offering more support for a growing customer base in Latin America

RADNOR, Pa., Sept. 12, 2012 /PRNewswire/ — VWR International, LLC, a leading global distributor of laboratory supplies and services, announced today the acquisition of Sovereign Group, a distributor of lab products with distribution centers and sales organizations in Brazil and Argentina.

(LOGO: http://photos.prnewswire.com/prnh/20101109/NY97837LOGO )

The acquisition of Sovereign significantly increases VWR’s breadth of operations, expanding its geographic footprint into Brazil and Argentina as well as strengthening its reach into the biotechnology, pharmaceutical, education and government market segments in Latin America.

“This acquisition allows us to better serve our global customers in Brazil and Argentina as their demands continue to increase,” said Ted Pulkownik, Senior Vice President of Strategy and Corporate Development. “Beyond key customer needs and overall business objectives, this acquisition is also a strategic investment in the future as our Latin American business opportunities continue to grow.”

Financial details of this acquisition remain confidential.

About VWR International, LLC

VWR International, LLC, headquartered in Radnor, Pennsylvania, is a global laboratory supply and distribution company with worldwide sales in excess of $4.1 billion in 2011. VWR enables the advancement of the world’s most critical research through the distribution of a highly diversified product line to most of the world’s top pharmaceutical and biotech companies, as well as industrial, educational and governmental organizations. With over 150 years of industry experience, VWR offers a well-established distribution network that reaches thousands of specialized labs and facilities spanning the globe. VWR has over 8,000 associates around the world working to streamline the way researchers across North America, Europe, and Asia stock and maintain their labs. In addition, VWR further supports its customers by providing onsite services, storeroom management, product procurement, supply chain systems integration and technical services.

For more information on VWR, phone 1-800-932-5000, visit http://www.vwr.com, or write, VWR, Radnor Corporate Center, Building One, Suite 200, 100 Matsonford Road, Radnor, PA 19087.

VWR and design are registered trademarks of VWR International, LLC.

Written by asiafreshnews

September 13, 2012 at 11:37 am

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New Stratus Server Line Bolsters Downtime-fighting Technology with Intel E5 Processor Speed, Power and Performance

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Sixth-gen ftServer systems protect critical applications with uptime reliability greater than 99.999%
MAYNARD, Mass. /PRNewswire/ — In the escalating battle to protect critical business applications against the pains of IT system downtime and data loss, Stratus Technologies today launched an entirely new arsenal of server systems specifically engineered for superior high availability and operational simplicity.
The Stratus® ftServer® family, which extends from entry-level departmental servers to enterprise-class systems, runs Windows 2008 R2, Red Hat Enterprise Linux, and virtualization workloads with less than two minutes of unplanned downtime per year on average in continuous operation. Now in its sixth generation with more than a decade of field-proven uptime reliability, the new ftServer line consists of three highly configurable, Intel Xeon E5 processor-based models that protect critical business operations from outages at prices matched to any IT systems budget.
ftServer 2700 system: the value model is low cost and ideal for volume deployments in remote locations, lights-out management, and as a fault-tolerant replacement for ordinary servers or low-end clusters.
ftServer 4700 system: the adaptable model is a flexible mid-range server with many configuration options, making it suitable for a wide range of applications; takes full advantage of Intel QuickPath technology to boost systems performance, bandwidth, and reliability.
ftServer 6400 system: the performance model is a 16-core workhorse for enterprise-class applications and transaction-intensive data center workloads, such as server virtualization, database engine, electronic funds transfer, online banking, supply chain, and cloud computing.
“We don’t have to worry about providing the high availability that our UK ambulance service customers demand; ftServer does that admirably,” said Mark Appleyard, MIS Emergency Systems, a provider of command and control systems for emergency dispatch operations and ftServer beta system evaluator. “We appreciate the simplicity of the solution, unlike the clustered server products we’ve used in the past, which require additional maintenance, configuration and testing of the applications.”
New models deliver up to four times more processing performance than the previous generation. For the first time, systems may be configured with internal solid-state disk drives alone or in combination with high-density disks in the same chassis. All ftServer models are available now.
Downtime Prevention
Within a standard enclosure, fully redundant server technology predicts and prevents downtime from occurring, riding through and resolving issues that can cause failover, data loss, and virtual-machine and application restarts in other uptime solutions. Yet, ftServer systems are more cost effective over the life of the application, and are as easy to deploy, manage, and maintain as ordinary x86 servers.
“To achieve sustained competitive advantage, financial institutions demand ultra-high performance, reliability and scalability from their software and hardware solutions,” said Karen T. Cone, general manager, Worldwide Financial Services at Microsoft Corp. “Stratus has consistently made its mark in supporting the most demanding mission-critical workloads with Microsoft for more than twelve years and, as its latest implementation of server technology shows, it remains at the top of its game.”
Software, Hardware, Service Work Together
ftServer systems’ remote monitoring and management services via the Stratus ActiveService™ network work in concert with the server’s resilient software and hardware to deliver industry-leading uptime assurance. The average server downtime in 2011 for the global installed base of systems under service contract was 81 seconds. Daily updates to the Stratus online Uptime Meter(SM) display show current uptime levels, a performance metric that only Stratus publically displays.
“If unplanned downtime of your critical IT systems is not an option, then your best option for protecting them is products and services from Stratus Technologies,” said Dave LeClair, director of product management and marketing for Stratus. “This new ftServer line brings to bear the full power and performance of Intel’s most current multi-core processor technology. These servers interoperate seamlessly with any IT infrastructure while, at the same time, relieving IT staff from the management headaches and worry typical of other vendors’ high availability product offerings.”
For more details on Stratus’ next-generation downtime prevention solutions, visit http://www.stratus.com or call +1-800-STRATUS.
About Stratus Technologies
Stratus delivers the world’s only proactive “uptime assurance” guarantee for the platforms that run the most vital functions of business, healthcare, manufacturing and government. Combining its resilient software and hardware technologies with thirty years of unparalleled remote monitoring and management expertise for availability, Stratus helps save lives and protect the business and reputations of companies, institutions, and governments the world over. To learn more about worry-free computing, visit http://www.stratus.com.
© 2012 Stratus Technologies Bermuda Ltd. All rights reserved.
Stratus and ftServer are registered trademarks of Stratus Technologies Bermuda Ltd. The Stratus Technologies logo and ActiveService are trademarks of Stratus Technologies Bermuda Ltd. Uptime Meter is a service mark of Stratus Technologies Bermuda Ltd. All other marks are the property of their respective owners.
Media Contacts:
Ms. Bee Yiu
Stratus Technologies AP
Suite 901, 9/F., Ocean Centre,
Harbour City, Tsim Sha Tsui,
Kowloon, Hong Kong
Tel: +852-2844-5200
Email: ap.enquiry@stratus.com
http://www.stratus.com
Source: Stratus Technologies (HK) Ltd

Written by asiafreshnews

September 13, 2012 at 11:29 am

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