Archive for October 15th, 2012
Polaris Appoints Jitin Goyal as President and Head of Worldwide Sales and Account Management
CHENNAI, India, NEW JERSEY, LONDON and SINGAPORE/PRNewswire/ — Polaris Financial Technology Ltd. (POLS.BO), a leading global Financial Technology Company, today announced Jitin Goyal as President and Head of Worldwide Sales and Account Management. Prior to this role, Jitin served as a Consultant and Senior Anchor for the Strategic Outsourcing Business at Polaris. In the new role, Jitin will report to the Chairman & CEO, Arun Jain.
Jitin has a rich repertoire of experience in the Financial Technology vertical. He served more than 10 years at Infosys in various senior roles across US, UK and Continental Europe including Head of Sales for their European business and later, Head of Banking & Capital Markets vertical for Europe.
Prior to Infosys, Jitin was with Citibank, India, where he honed his banking skills and acquired a comprehensive view of the banking business.
Jitin’s addition to the leadership comes at an interesting stage in Polaris’ journey where the focus is moving towards larger deals. The company’s twin growth engines of Services and Products have meanwhile posted robust growth last fiscal, with Services growing 25% and Products growing 43%.
About Polaris Financial Technology Ltd.
Polaris Financial Technology Ltd (formerly known as Polaris Software Lab Ltd.) (POLS.BO) is a leading Financial Technology company, with its comprehensive portfolio of products, services and consulting. Polaris has a talent strength of over 13,500 solution architects, domain and technology experts. The company owns the largest set of Intellectual Properties in the form of a comprehensive product suite, Intellect GUB M180. Intellect is the first pure-play, SOA-based application suite for Retail, Corporate, Investment banking and Insurance.
Polaris is headquartered in Chennai and has offices in all global financial hubs, including Bangalore, Belfast, Chennai, Chicago, Dhaka, Dublin, Dubai, Frankfurt, Hong Kong, Ho Chi Minh City, Hyderabad, Kuala Lumpur, Lisle, London, Madrid, Manila, Melbourne, Mississuaga, Mumbai, Nairobi, Neuchatel, New Delhi, New Jersey, Paris, Pittsburgh, Pune, Riyadh, Santiago, San Francisco, Seoul, Shanghai, Singapore, St. Germain En Laye, Sydney, Thane, Tokyo, Toronto, Victoria and Wicklow. For more information, please visit http://www.polarisFT.com/
For media-related info, please contact:
Minal Sahani
Polaris Financial Technology Ltd.
Mob: +91-91766-26468
e-mail: minal.sahani@polarisFT.com
For investor-related info, please contact:
G. Sunanthy Devi
Polaris Financial Technology Ltd.
Mob: +91-89399-33564
e-mail: sunanthy.g@polarisFT.com
Source: Polaris Financial Technology Limited
Infosys (NASDAQ: INFY) Announces Results for the Quarter Ended September 30, 2012
BANGALORE, India /PRNewswire/ —
Q2 Revenues grew by 2.9% Year on Year
Highlights
Consolidated results under International Financial Reporting Standards (IFRS) for the quarter ended September 30, 2012
Revenues were $1,797 million for the quarter ended September 30, 2012; YoY growth was 2.9%
Net income after tax was $431 million for the quarter ended September 30, 2012; YoY growth was 4.9%
Earnings per American Depositary Share (EPADS) was $0.75 for the quarter ended September 30, 2012; YoY growth was 4.2%
39 clients were added during the quarter by Infosys and its subsidiaries
Gross addition of 10,420 employees (net addition of 2,610) for the quarter by Infosys and its subsidiaries
153,761 employees as on September 30, 2012 for Infosys and its subsidiaries
Declared an interim dividend of `15 per ADS (equivalent to an interim dividend of $0.28 per ADS, at the prevailing exchange rate of `53.00 per US$). The record date for the payment of dividend is October 19, 2012.
“Global economic uncertainties continue to face the industry,” said S. D. Shibulal, CEO and Managing Director. “We have increased employee wages, used some of our cash in a transformational acquisition of a consulting business and enhanced our investment in R&D and solutions. These initiatives will position us well in the industry and provide a strong platform for future growth.”
Business outlook*
The company’s outlook (consolidated) for the fiscal year ending March 31, 2013, under IFRS is as follows:
Revenues are expected to be at least $7.343bn; YoY growth of 5% (5.7% in constant currency terms)
Earnings per American Depositary Share (EPADS) is expected to be at least $2.97 ( Fiscal 2013 guidance given on July 12, 2012 was $ 3.03 which is reset at the current exchange rate at $2.97)
* Exchange rates considered for major global currencies: AUD / USD – 1.04; GBP / USD – 1.62; Euro / USD – 1.29 for rest of fiscal 2013
Awards and Recognition
Infosys was recognized by analysts, industry bodies and other influencers in the last quarter
We were recognized as one of the Achievers 50 Most Engaged Workplaces™ in the United States (U.S.) for our leadership and innovation towards engaging employees.
We were ranked second on The 2012 Global Outsourcing 100 List compiled annually by the International Association of Outsourcing Professionals (IAOP) for our performance across all four survey assessment categories, namely, size and growth, customer references, organizational competencies, and management capabilities.
For the second consecutive year, we have won the P&G Global Business Services Organization’s External Business Partner Excellence Award for the quality of our execution, commitment to relationship and work with P&G’s ecosystem of partners and co-creating innovation.
Infosys China has been listed among the Top 10 Global Service Providers in China by the China Council for International Investment Promotion for the second consecutive year.
Infosys BPO won the Award for Innovation in Learning at the Best Learning & Development Awards 2012.
Infosys BPO won the Golden Peacock HR Excellence Award 2012.
Infosys BPO won the Award for Institution Building at the Asia Pacific HRM Congress Awards – 2012.
Expansion of services and significant projects
Infosys is focused on delivering measurable business value to clients by enabling transformational process changes, accelerating innovation and optimizing their operations
Consulting and Systems Integration
An elevator and escalator manufacturer chose us to implement service and maintenance solutions using Oracle Siebel Customer Relationship Management (CRM) application for its India and United Arab Emirates (UAE) businesses. A provider of consumer and commercial banking, trust, securities brokerage, mortgage and insurance products and services, selected us to implement a single sign-on solution for its commercial banking customers – to provide simplified access to all commercial banking applications in a unified portal, thereby improving customer experience.
A life insurance firm in the U.S. has partnered with us to implement a next-generation CRM solution based on the Microsoft Dynamics platform; covering more than 12,000 active field force members, 21 million client contacts and 2 million households. For an integrated energy company we will implement an enterprise wide identity and access management solution.
India Business Unit
We were selected by the Ministry of Corporate Affairs (MCA) to further strengthen and transform the new phase of the MCA 21 V2 project. MCA 21 is the first Mission Mode Project (MMP) under National e-Governance Plan (NeGP) of India and has been a transformational and successful project that has enabled easy and secure access to MCA services by its stakeholders, corporate sector as well as investors, through an online portal.
Business IT Services
A manufacturer of paints, coatings and powder coatings selected us to develop a solution for its Research and Development (R&D) department to standardize paint test information storage and retrieval, thereby enhancing productivity. We have been selected to partner with the quality assurance and testing division of a bank for the assessment, solution, roadmap definition, and establishment of a Testing Center of Excellence (CoE).
A property and casualty insurer in the U.S. chose us as its strategic partner for infrastructure management services. We have been engaged as a preferred partner to provide business IT services across application development and support, testing, infrastructure and change management to a public personal lines insurer in the U.S.
We signed a managed services contract with a company in the food industry to outsource its application services, infrastructure operations and deployment activities in its SAP transformation program. A U.S. logistics and freight transportation provider partnered with us to optimize, support, and administer its complete IT infrastructure aimed at higher infrastructure reliability, on-time performance, and enhanced customer service.
Infosys Public Services
We are partnering with leading healthcare and public sector organizations in the U.S. and Canada to help them leverage technology solutions and services to derive business value.
A postal solution provider engaged us to create a robust business intelligence system to provide accurate health and safety data to field personnel to increase self-service, improve efficiency and reduce costs. For a Blue Cross-Blue Shield Plan we are enhancing its provider portal to support self-service functions and information updates via web, to improve data accuracy and productivity. Another Blue Cross-Blue Shield Plan engaged us to provide end-to-end migration and testing services to support the strategic migration of its business processes from an enterprise legacy platform to third party administrators
Engineering Services
We offer a wide range of engineering and technology services that cover our client’s entire product lifecycle from design to sustenance. With a global footprint supported by 9,000 engineers working with more than 200 clients in 30 countries, Infosys’ Engineering Services are delivered across nine different industry verticals.
A global retail corporation engaged us in the design and implementation of a Product Lifecycle Management (PLM) solution to transform its production operations by reducing product development cycle time and cost of raw material resulting in significant financial savings. A food and beverage corporation chose us to assess its network infrastructure readiness for its Bring Your Own Device (BYOD) initiative spanning hundreds of locations across the U.S. and Canada; we will also recommend the network foundation for its future enterprise mobility strategy.
An independent software vendor partnered with us for development, testing, sustaining engineering and support for network monitoring, digital forensics and network security management solutions that protect its worldwide information ecosystem. An Indian telecommunications conglomerate chose us to help define its video, enhanced communications, device, identity and implementation strategies for infrastructure and services in support of its new 4G service.
Infosys BPO
A not-for-profit health plan provider partnered with us to improve its claims process in terms of accuracy and turnaround time through a comprehensive solution leveraging our automated workflow, reporting and auditing solutions. An integrated healthcare delivery provider in Asia-Pacific partnered with us to standardize and harmonize its processes by setting up a shared service environment.
Products, Platforms and Solutions
We continue to see momentum across industries for Products and Platforms. This quarter we added 15 wins across industries and geographies. Our products and platforms (excluding Finacle™) are now adopted by more than 60 global clients.
A hotel operator in Europe has selected Infosys CommerceEdge™ to provide its online customers with an enhanced social shopping experience. The platform supports the purchase process by connecting consumers with their friends on social channels. Customers will be able to compare and seek opinions on their purchases and share travel experiences seamlessly. A multinational consumer food products company has selected Infosys TradeEdge™ to gain secondary sales visibility in emerging markets, enabling better distributor collaboration and supply chain planning.
A global research-based biopharmaceutical company has selected Infosys Edge business platform to transform its information management process by enhancing collaboration between teams and driving regulatory compliance during drug discovery process. A global apparel brand selected Infosys Omni Channel Personalization Engine to create the next-generation online consumers experience to drive deeper personalization and enhance consumer engagement resulting in higher conversion rate.
This quarter we also took new products to the market. Through a jointly developed solution with AT&T, we redefined customer service with SpeedSolve – a comprehensive next-generation product that makes communication faster and more efficient for call centers and related operations.
Finacle™
Finacle™ from Infosys has been positioned as a leader in the Gartner Magic Quadrant for International Retail Core Banking (IRCB) 2012*. Gartner Inc. positioned vendor/product based on two broad parameters – ability to execute and completeness of vision. Finacle™ was positioned as a leader in the market among the 19 vendor/product evaluated.
Finacle™ continued its business momentum, adding six wins this quarter. Of these, four were from Europe, Middle East and Africa (EMEA) and two were from the Asia-Pacific (APAC) region. Nine client projects went live on Finacle™ in the quarter. Of these, four went live in APAC, three in EMEA and two in the Americas.
The implementation of Finacle at Denmark’s Nykredit bank went live recently. Commenting on this major milestone in the bank’s strategic journey, Group Managing Director Per Ladegaard from Nykredit said: “Adopting a partnership with Finacle has been important to the success of this project. The integrated Nykredit and Finacle team worked closely with the bank’s IT and business teams. They laid a solid foundation from which we will be able to offer superior products and service to our clients, and achieve our business growth objectives.”
Cloud
We are seeing good momentum in the market for our Cloud business and have executed more than 170 engagements. In the last quarter, we won more than 20 engagements across Cloud services, Big Data and Security.
As a Cloud Ecosystem Integrator, we work with more than 30 partners and have made significant investments in solutions and intellectual property with the successful launch of the Infosys Cloud Ecosystem Hub solution. This is the first solution that effectively helps enterprises build, manage and govern a unified hybrid cloud environment.
A life-sciences major engaged us to migrate and support its legacy integration services to a Cloud based platform, including new native Cloud application development along with integration services for Cloud. A financial services major in the U.S. selected us to build the foundation of an online services marketplace and leverage a Cloud based model to enable subscription, brokering, federation and monetization of services and data with the required security, policy and standards. We will also manage the Windows Azure operations for the client.
A financial services company chose to leverage our Big Data solutions to understand and reduce its risk when lending to commercial clients. The solution will help the client process its voluminous data around non-performing assets and draw real-time insights and streamline its loan origination process.
Enterprise Mobility
Mobility continues to be a business priority and focus area for Enterprises. Till date, the business unit has executed more than 250 projects, 300 application rollouts, and serviced more than 70 clients. In the last quarter, we have won more than 18 new engagements in key areas such as enterprise mobility strategy, advisory and envisioning services, mobile field service, mobile sales force automation, enterprise IT, multi-channel commerce, and mobile asset management.
We were engaged to define the enterprise and consumer mobility strategy for an American food major, helping the company make the right investments to achieve its business goals and return on investment. For a large American bank, we are redesigning the architecture of its mobile banking solution to be more scalable and robust. The new architecture will reduce efforts in adding new services, and supporting new platforms.
We are creating a mobile-based field service solution for the technicians of an Asian storage and computing systems vendor. The solution improves technician collaboration, order-taking for spares and accessories, and overall time to resolve complaints. A European consumer packaged goods major selected us to develop a mobile-based sales and order management system to improve efficiency in its sales processes and effectiveness of its local marketing campaigns.
A Nordic retailer chose us to help rollout a mobile channel for shopping that will provide its customers a seamless and convenient cross-channel shopping experience.
Patents
During the second quarter, Infosys applied for 33 patent applications in Indiaand the U.S. With this, Infosys has an aggregate of 533 unique patent applications (at various prosecution stages) in India, U.S. and other jurisdictions and has been granted 56 patents by the United StatesPatent and Trademark Office and two patent by Luxembourgpatent office.
Liquidity
As on September 30, 2012, cash and cash equivalents, including investments in available-for-sale financial assets, certificates of deposits and government bonds was $4.3bn ($3.8bn as on September 30, 2011).
“Our operating cash flows continue to be strong while our cash and cash equivalents crossed US $4bn,” said V. Balakrishnan, Member of the Board and Chief Financial Officer. “We are focused on high quality growth despite global currency and economic volatility.”
Senior Management Changes
After six years at the helm of the Company’s finances, Mr. V. Balakrishnan, Member of the Board and CFO, will be giving up his position as CFO from October 31, 2012. Mr. Rajiv Bansal, currently Vice President – Finance, will take over as CFO from November 1, 2012.
Mr. V. Balakrishnan will continue as a member of the Board and will be responsible for three key businesses – Business Process Management (or Infosys BPO), Finacle™ and the India Business Unit.
Mr. Kris Gopalakrishnan, Executive Co- Chairman of Infosys had this to say: “Bala is one of the finest CFO in the country. He has led his team in setting new standards in financial reporting, corporate governance and compliance. A top performer, he successfully managed a high quality financial model which has withstood the pressure of the current economic downturn. Given his belief that younger people should get strategic opportunities to shape this company, he has voluntarily given up his CFO position and instead chosen to focus on Infosys BPO, Finacle™ and the India Business Unit.”
“Rajiv Bansal has been a very bright star in the Finance Department. He has been with Infosys for 13 years and has been heading the finance function under Bala for the past four years. We wish this outstanding professional the best in his new role,” said Kris Gopalakrishnan.
*Source: Gartner, “Magic Quadrant for International Retail Core Banking” Don Free, 26 September 2012
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Infosys Ltd
Infosys partners with global enterprises to drive their innovation-led growth. That’s why Forbes ranked Infosys 19th among the top 100 most innovative companies. As a leading provider of next-generation consulting, technology and outsourcing solutions, Infosys helps clients in more than 30 countries realize their goals.
Visit http://www.infosys.com and see how Infosys (NASDAQ: INFY), with its 153,000 people, is Building Tomorrow’s Enterprise® today.
Safe Harbor
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2012 and on Form 6-K for the quarter ended September 30, 2011, December 31, 2011 and June 30, 2012. These filings are available at http://www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.
Infosys Limited and subsidiaries
Unaudited Condensed Consolidated Balance Sheets as of
(Dollars in millions except share data)
September 30, March 31,
2012 2012
ASSETS
Current assets
Cash and cash equivalents $3,265 $4,047
Available-for-sale financial assets 943 6
Investment in certificates of deposit 49 68
Trade receivables 1,264 1,156
Unbilled revenue 368 368
Derivative financial instruments 27 –
Prepayments and other current assets 329 300
Total current assets 6,245 5,945
Non-current assets
Property, plant and equipment 1,097 1,063
Goodwill 191 195
Intangible assets 34 34
Available-for-sale financial assets 2 2
Investment in government bonds 12 –
Deferred income tax assets 67 62
Income tax assets 199 204
Other non-current assets 32 32
Total non-current assets 1,634 1,592
Total assets $7,879 $7,537
LIABILITIES AND EQUITY
Current liabilities
Derivative financial instruments – $9
Trade payables 6 5
Current income tax liabilities 241 207
Client deposits 2 3
Unearned revenue 144 107
Employee benefit obligations 109 98
Provisions 40 26
Other current liabilities 501 482
Total current liabilities 1,043 937
Non-current liabilities
Deferred income tax liabilities 10 2
Other non-current liabilities 13 22
Total liabilities 1,066 961
Equity
Share capital- `5 ($0.16) par value
600,000,000 equity shares authorized, issued
and outstanding 571,398,846 and 571,396,401,
net of 2,833,600 treasury shares each as of
September 30, 2012 and March 31, 2012,
respectively 64 64
Share premium 703 703
Retained earnings 6,974 6,509
Other components of equity (928) (700)
Total equity attributable to equity holders
of the company 6,813 6,576
Non-controlling interests – –
Total equity 6,813 6,576
Total liabilities and equity $7,879 $7,537
Infosys Limited and subsidiaries
Unaudited Condensed Consolidated Statements of Comprehensive Income
(Dollars in millions except share and per equity share data)
Three Three
months months Six months Six months
ended ended ended ended
September September September September
30, 2012 30, 2011 30, 2012 30, 2011
Revenues $1,797 $1,746 $3,549 $3,417
Cost of sales 1,114 1,025 2,173 2,047
Gross profit 683 721 1,376 1,370
Operating expenses:
Selling and marketing
expenses 92 98 178 187
Administrative expenses 119 133 237 258
Total operating expenses 211 231 415 445
Operating profit 472 490 961 925
Other income, net 129 85 216 184
Profit before income taxes 601 575 1,177 1,109
Income tax expense 170 164 330 314
Net profit $431 $411 $847 $795
Other comprehensive income
Fair value changes on
available – for-sale
financial asset, net of
tax effect $1 $(2) – $(2)
Exchange differences on
translating foreign
operations 324 (555) (228) (562)
Total other comprehensive
income $325 $(557) $(228) $(564)
Total comprehensive income $756 $(146) $619 $231
Profit attributable to:
Owners of the company $431 $411 $847 $795
Non-controlling interests – – – –
$431 $411 $847 $795
Total comprehensive income
attributable to:
Owners of the company $756 $(146) $619 $231
Non-controlling interests – – – –
$756 $(146) $619 $231
Earnings per equity share
Basic ($) 0.75 0.72 1.48 1.39
Diluted ($) 0.75 0.72 1.48 1.39
Weighted average equity
shares used in computing
earnings per equity share
Basic 571,397,749 571,359,222 571,397,150 571,346,361
Diluted 571,398,613 571,392,924 571,398,353 571,394,391
NOTE:
1. The unaudited Condensed Consolidated Balance sheets and Condensed Consolidated Statements of Comprehensive Income for the three months and six months ended September 30, 2012 has been taken on record at the Board meeting held on October 12, 2012
2. A Fact Sheet providing the operating metrics of the company can be downloaded from http://www.infosys.com
Click to access Factsheet-Q2-2013.pdf
Click to access INR-press-release.pdf
Contact
Investor Relations
Avishek Lath, India
+91(80)4116-7744
avishek_lath@infosys.com
Sandeep Mahindroo, US
+1(646)254-3133
sandeep_mahindroo@infosys.com
Media Relations
Sarah Vanita Gideon, India
+91(80)4156-4998
Sarah_Gideon@infosys.com
Danielle D’Angelo, USA
+1(510)859-5783
Danielle_Dangelo@infosys.com
Source: Infosys Ltd
Rovia Wins Gold and Silver Honors in 2012 Travel Weekly Magellan Awards Competition
Rovia earns premier travel industry distinctions for third year in a row
PLANO, Texas /PRNewswire/ — Rovia is proud to announce that the company has earned both gold and silver honors in the 2012 Travel Weekly Magellan Awards competition. Honored with the 2012 Gold Magellan Award for the Best Community Involvement Program, Rovia was recognized for their work with the bottle school project; and was presented the Silver Magellan Award for the best Travel Guides/Ratings/Reviews for its newsletter, A DreamTrips Way of Life.
Receiving over 550 entries, the Travel Weekly Magellan Awards is the premier awards program honoring a broad range of industry segments including Hotels and Resorts, Travel Destinations, Cruise Lines, Online Travel Services, Airlines and Airports, Travel Agents and Agencies, making it one of the most prestigious awards to win amongst the travel business.
This is the third year in a row that Rovia has topped its competitors in various categories, and the second time that Rovia has won in the Best Community Involvement Program category.
“Winning the Magellan Awards confirms Rovia’s great accomplishments both in our internal and external commitments,” Rovia President Mike Putman said. “We’re proud to stand for travel excellence and to provide our members with the most updated and inclusive newsletter, A DreamTrips Way of Life, as much as we’re proud to provide our members with the opportunity to give back to our global community. Our collaboration with Hug It Forward, through our nonprofit organization, Manifest Foundation, provides our members with a wonderful opportunity to work collaboratively with underprivileged communities and truly experience Guatemalan culture. We are grateful to our members who have taken an active part of this meaningful opportunity, and to the Travel Weekly Magellan Awards for acknowledgement of the change we’re all making together.”
About Rovia:
Rovia is a leading online travel company with offices in South Carolina and Texas. Established by the convergence of two well-respected travel companies with more than 50 years of experience in the travel industry, Rovia offers its premiere curated group travel membership, DreamTrips, in 21 countries.
Source: Rovia
Latest Magic Quadrant report for Intelligent Business Process Management Suites: Bosch Software Innovations recognized as ‘Visionary’
- Bosch Software Innovations acknowledged for its ability to execute and completeness of vision
BERLIN, IMMENSTAAD, Germany, CHICAGO and SINGAPORE, Oct. 11, 2012 /PRNewswire/ — Bosch Software Innovations announced today that it is positioned as ‘Visionary’ in the Gartner Magic Quadrant (MQ) for Intelligent Business Process Management Suites (iBPMS). Gartner is the world leading technology research and advisory company.
Bosch Software Innovations brings together products for Business Process Management (the inubit Suite), and Business Rules Management (Visual Rules). Together with the strength of the Bosch Group these products form the basis of applications in the Internet of Things and Services as well as the development of business models based on those applications. Bosch Group is a leading global supplier of automotive and industrial technology, consumer goods, and building technology with more than 300,000 associates and 51.5 billion Euros in sales.
Dr. Heinz Derenbach, president of Bosch Software Innovations, states: “We are very honored to be positioned as ‘Visionary’ in this iBPMS MQ. We believe this confirms our vision of where the market is going and our strategy to drive these changes.”
At Gartner ITXpo in Orlando (21.-25.10.) and Barcelona (5.-8.11.) visitors will learn more about Bosch Software Innovations’ positioning in the MQ and its solutions.
The entire Magic Quadrant Document can be read at www.bosch-si.com/gartnerMQ.
Gartner released their new Magic Quadrant on Intelligent Business Process Management Suites in September. Lead analysts of this new MQ were Jim Sinur, Janelle Hill, Roy Schulte and Teresa Jones. The basis of the evaluation is a comprehensive analysis of the software. In addition, customers are asked to rate vendors’ products and services.
Please note:
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
The Gartner report is available at www.bosch-si.com/gartnerMQ.
Bosch Software Innovations GmbH, the software and systems house of the Bosch Group, globally designs, develops and operates innovative software and system solutions for the Internet of Things and Services. In this environment, we focus specifically in the areas of connected mobility, connected energy and facility management, connected industry and enterprises, and connected healthcare. With our core products, “Visual Rules Suite” for Business Rules Management and the “inubit Suite” for Business Process Management, we comprehensively support our customers and partners in developing and implementing new markets and business opportunities in the Internet of Things by linking functions and processes, services and devices. Bosch Software Innovations provides individual, customized solutions for financial institutions, financial service providers and industrial companies.
With about 450 employees currently, Bosch Software Innovations is globally represented with locations in Immenstaad, Waiblingen and Berlin, Germany; Chicago, USA; and Singapore. Further information is available online at www.bosch-si.com
The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, more than 300,000 associates generated sales of 51.5 billion euros in fiscal 2011. The Bosch Group comprises Robert Bosch GmbH and its roughly 350 subsidiaries and regional companies in some 60 countries. If its sales and service partners are included, then Bosch is represented in roughly 150 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. Bosch spent some 4.2 billion euros for research and development in 2011, and applied for over 4,100 patents worldwide. With all its products and services, Bosch enhances the quality of life by providing solutions which are both innovative and beneficial.
Further information is available online at www.bosch.com, www.bosch-presse.de
VIP Cocktail Reception With the Pharmaceutical Society of Sri Lanka and CPhI
MUMBAI, India/ PRNewswire/ —
The world’s largest pharmaceutical organiser CPhI, in collaboration with the Pharmaceutical Society of Sri Lanka, is pleased to cordially invite you to an exclusive VIP cocktail reception.
Date: Wednesday, 17 October 2012
Time: 5:00 pm
Venue: Hotel Galadari
Key industry representatives will discuss the future of this sector in Sri Lanka and mark the official launch of ‘Sri Lanka Pharma Week’.
Agenda:
5:00 Arrival & Cocktails
5:15 Introduction
5:20 Speech by Mr. Shalutha Athauda, President, Pharmaceutical Society of Sri Lanka
5:35 Speech by Bansri Shah, Managing Director, UBM (CPhI)
5:40 Speech by Government Official
6:00 Panel Q&A
6:15 Cocktails & Open Bar
Sri Lanka Pharma Week will address the industry’s burning issues: Bioavailability and Bioequivalence requirements, Pharma Sales Force Effectiveness and Automation, and Supply Chain and Distribution. Industry experts will provide their expert insights through their own experiences.
Bansri Shah, Managing Director, UBM (CPhI) said, “We are grateful to Mr. Shalutha and the Pharmaceutical Society of Sri Lanka for their help and support towards the development of ‘Sri Lanka Pharma Week’.”
“It also gives me immense pleasure to bring our largest brand CPhI to the rapidly growing industry in Sri Lanka and we would like to extend a warm invitation to the pharmaceutical fraternity to participate in this knowledge sharing.”
Please RSVP your attendance for the VIP cocktail reception taking place on the 17th of October by emailing jayadev.nair@ubm.com or call on +91-9769277619 for further queries.
About PSSL:
The Pharmaceutical Society of Sri Lanka is one of the country’s leading industry associations with over 1,000 members. The association aims to uplift the industry and create further opportunities for this growing sector.
About CPhI:
CPhI is the world’s largest event organiser for the pharmaceutical industry bringing together since 1990 over 250,000 attendees, 4000 exhibitors from over 133 countries. The flagship event in Amsterdam hosts 2,200 exhibitors and is the market leader for the global pharmaceutical ingredients industry. Large scale exhibitions and content-led conferences also take place in India, South East Asia, China, Latin America and Turkey. http://www.cphi.com
About UBM:
UBM is a global live media and B2B communications, marketing service and data provider. We help organisations make connections, communicate their proposition and do business effectively. We enable professional people in more than 40 countries around the world to connect and engage with each other, with the markets they serve and with the information they need to succeed. And we do this by whatever means works best – at live events, through digital media or in publications.
Our 6,500 expert staff are deeply embedded in the many specialist communities we serve, bringing both an unusual depth of understanding and real know-how. We organise hundreds of live events each year; we provide data, marketing and information products; we offer a portfolio of market-leading online and print titles; and we support professional communicators through our targeting, distribution and monitoring services.
Our culture of innovation and collaboration brings our people together around common interests to create value, enhancing our ability to do exactly the same for UBM customers. So, whatever their business and wherever they operate, our customers do better business through us. http://www.ubm.com
Primary Media Contact: Jayadev Nair, jayadev.nair@ubm.com, +91-9769277619
Source: UBM India Pvt. Ltd.
UTZ Certified Ambition for 2022: Half of Global Coffee, Cocoa and Tea Production Sustainable
10th anniversary seminar Eye on the Future in Amsterdam sets course
AMSTERDAM, Oct. 12, 2012 /PRNewswire/ — 50% of the world’s total coffee, cocoa and tea production should be made sustainable in the next decade. That is the ambition UTZ Certified announced at her 10th anniversary seminar ‘Eye on the Future’ that took place yesterday in Amsterdam, the Netherlands. The assembly brought together different stakeholders to discuss UTZ and the future role and position of the program within certification.
UTZ Certified aims for further expansion by scaling up, increasing industry commitment and above all building a solid network of farmers, civil societies, NGOs and other relevant players in the supply chain. By combining high-tech approached with the power of nature, UTZ intends to build further on more resilient agricultural practices, increased output, reduced footprints and improved livelihoods for farmers.
Enhanced capacity building
While applauding the successes so far achieved by UTZ and its partners, renown specialists in the field of sustainability outlined the challenges ahead in this venture. Kamau Kuria from Coffee Management Systems and Korotoum Doumbia from CEMOI were clear in their view of the challenges faced by coffee and cocoa farms in Ghana and Côte d’Ivoire: access to finance, enhanced capacity building and further outreach to smallholders are key to the improvement of their livelihoods.
Making the impossible possible
Heather Mak, co-author of Signed, Sealed en Delivered, stated that a certain level of harmonization of standards and labels across the sector could be helpful to increasingly meet farmer needs. Nicko Debenham, Director Development and Sustainability of Armajaro stressed the importance of traceability systems, focus on impact and strict adherence to requirements. Gunter Pauli, author of the Blue Economy made a strong plea to always make the impossible possible, for instance by increasing farmers’ income by enabling them to grow mushrooms on coffee waste. While stressing the vital importance of drinking water and top soil protection as part and parcel of certification standards, he underlined the important role UTZ must continue to play in meeting farmer needs.
Sustainable farming the norm
UTZ Certified Director Han de Groot concluded that, while indeed concentrating on enhanced farmer livelihoods, UTZ will invest in further growth, both in volumes and impact, in order to make sustainable farming to the norm.
Environmental Degradation Increases the Risk of Disasters Worldwide
BRUSSELS/PRNewswire/ — Environmental degradation is a significant factor that reduces the capacity of societies to deal with disaster risk in many countries around the world. This is the key message of the World Risk Report 2012, presented today in Brussels, Belgium by the German Alliance for Development Works (Alliance), United Nations University Institute for Environment and Human Security (UNU-EHS) and The Nature Conservancy.
The report examines the risks of and solutions for natural disasters. The record for the decade 2002 to 2011 is alarming: 4,130 disasters, more than a million deaths and an economic loss of at least 1.195 trillion dollars.
The report’s WorldRiskIndex, developed by UNU-EHS in cooperation with the Alliance, determines the risk of becoming the victim of a disaster as a result of natural hazards for 173 countries. The Pacific Island states of Vanuatu and Tonga have the highest disaster risk. Malta and Qatar face the lowest risk. Singapore ranks 158th and is therefore lowest in all risk categories.
“This report illustrates the powerful role that nature can play in reducing risks to people and property from coastal hazards like storms, erosion and floods. Coral reefs, oyster reefs and mangroves offer flexible, cost-effective, and sustainable first lines of defense” said Dr. Michael Beck, Lead Marine Scientist at The Nature Conservancy.
The Conservancy’s Drs. Beck and Christine Shepard, co-authors of the WRR, found that there are 200 million people who may receive risk reduction from coral reefs alone – which can reduce wave energy by more than 85 percent.
Singapore ranks 11th in the countries with the greatest number of at-risk people who may receive risk reduction benefits from reefs (people living below 10m elevation and within 50km of coral reefs). The top countries are Indonesia and India (> 35 M people each); followed by the Philippines (>20M); China (> 15 M); Brazil, Vietnam and the USA (all > 7M).
The report comes just before the UN’s International Day for Disaster Reduction, October 13.
NOTE: The full report, maps, illustrations and factsheets are available at http://www.nature.org/ourinitiatives/habitats/oceanscoasts/howwework/2012-world-risk-report.xml
The Nature Conservancy is a leading conservation organization working around the world to protect ecologically important lands and waters for nature and people. Visit The Nature Conservancy on the Web at http://www.nature.org/.
Source: The Nature Conservancy
CROMSOURCE Acquires PDR Partners – Expands UK Staffing Solutions Services
VERONA, Italy, Oct. 12, 2012 /PRNewswire/ — CROMSOURCE, an international, full-service contract research organization (CRO) today announced the acquisition of PDR Partners Ltd, an established staffing and recruitment organization with offices in Bracknell, UK.
PDR Partners was launched in 2002, supporting biopharmaceutical and medical device companies of all sizes with a complete range of flexible staffing solutions.
“We are delighted to welcome PDR Partners and its expert team,” stated Dr Oriana Zerbini, Chief Executive Officer of CROMSOURCE. “For some time we have wanted to expand our Staffing Solutions business to further support our clients in the UK with their staffing needs. The opportunity to achieve this through the addition of the experienced and successful team from PDR Partners is of great importance to us. With this exciting collaboration CROMSOURCE reinforces its capability to support its clients with a full-service portfolio across both Europe and the USA.”
Claire Jackaman, Managing Director of PDR Partners, noted: “We are very excited to be joining the CROMSOURCE family and working together to provide exceptional services to our current and future clients. With CROMSOURCE we share a philosophy of quality, flexibility and intense customer focus and we look forward to an exciting future together.” Claire will remain in charge of CROMSOURCE Staffing Solutions in the UK.
About CROMSOURCE:
CROMSOURCE was established in 1994 and is an ISO-certified, full-service Contract Research Organization providing clinical trial services and staffing solutions. CROMSOURCE operates across Europe, Russia, Ukraine and the USA and incorporates a high-quality early phase unit. CROMSOURCE provides One Trial One Price – a unique fixed-price guarantee which assures clients that each project will be delivered according to the contract price.
Contact:
Margherita Mosconi
CROMSOURCE
Phone: +39(0)45-8222811
Fax: +39(0)45-8222812
e-mail: Margherita.Mosconi@cromsource.com
Via Scuderlando, 10
37135 Verona, Italy
http://www.cromsource.com
Sunshine Oilsands Announces Closing of CDN$200 Million Syndicated Credit Facility
HONG KONG /PRNewswire/ — Sunshine Oilsands Ltd. (“Sunshine”) (Stock Code: 2012.HK)is pleased to announce that it has closed a CDN$200 million syndicated secured credit facility. The co-lead institutions that arranged the credit facility were Alberta Treasury Branches and Bank of China (Canada), supported by Bank of America, N.A., Canada Branch; HSBC Bank Canada; Morgan Stanley Senior Funding, Inc.; Scotiabank; The Toronto-Dominion Bank; UBS AG Canada Branch; and Industrial and Commercial Bank of China (ICBC) (Canada). Alberta Treasury Branches was the agent for the lenders. With strong support, this facility was upsized from its original expectation.
The credit facility will be used to complete the final construction of the ongoing West Ells project, to fund the front end portion of the Thickwood project and to advance program and regulatory development to expand capacity for the West Ells, Thickwood and Legend Lake projects. The capacity of the West Ells, Thickwood and Legend Lake is expected to be 200,000 barrels per day of production when fully completed.
John Zahary, President & CEO, said “We are very pleased to complete this facility with a very high quality syndicate of Asian, global and Canadian banks. It shows strong validation of the company’s business plan and establishes a strong platform for future growth.”
Sunshine also wishes to announce that it has terminated its share repurchase program, as announced on September 16, 2012. Pursuant to the share repurchase program, Sunshine repurchased, for cancellation, a total of 61,172,000 Class “A” Voting Common Shares at an average price of HKD $3.08 per share.
About Sunshine Oilsands Ltd.
Sunshine Oilsands Ltd. is one of the largest non-partnered holders of oil sands leases by area in the Athabasca oil sands region, which is located in the province of Alberta, Canada. Since the Company’s incorporation on 22 February 2007, Sunshine has secured over 464,897 hectares (1,148,785 acres) of oil sands leases (equal to approximately 7% of all granted leases in this area).
The Company’s principal operations are the exploration, development and production of its diverse portfolio of oil sands leases. Its principal operating regions in the Athabasca area are at West Ells, Thickwood, Legend Lake, Harper, Muskwa, Goffer, Pelican and Portage. Sunshine’s oil sands leases are grouped into three main asset categories: clastics, carbonates and conventional heavy oil.
FORWARD-LOOKING INFORMATION AND DISCLAIMER
This announcement may contain forward-looking information that is subject to various risks, uncertainties and other factors. All statements other than statements and information of historical fact are forward-looking statements. The use of any words “estimate”, “forecast”, “expect”, “project”, “plan”, “target”, “vision”, “goal”, “outlook”, “may”, “will”, “should”, “believe”, “intend”, “anticipate”, “potential”, and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on Sunshine’s experience, current beliefs, assumptions, information and perception of historical trends available to Sunshine, and are subject to a variety of risks and uncertainties including, but not limited to those associated with resource definition and expected reserves and contingent and prospective resources estimates, unanticipated costs and expenses, regulatory approval, fluctuating oil and gas prices, expected future production, the ability to access sufficient capital to finance future development and credit risks, changes in Alberta’s regulatory framework, including changes to regulatory approval process and land-use designations, royalty, tax, environmental, greenhouse gas, carbon and other laws or regulations and the impact thereof and the costs associated with compliance. Although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned that the assumptions and factors discussed in this information release are not exhaustive and readers are not to place undue reliance on forward-looking statements as our actual results may differ materially from those expressed or implied. Sunshine disclaims any intention or obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise, subsequent to the date of this announcement, except as required under applicable securities legislation. The forward-looking statements speak only as of the date of this announcement and are expressly qualified by these cautionary statements. Readers are cautioned that the foregoing lists are not exhaustive and are made as at the date hereof. For a full discussion of our material risk factors, see “Risk Factors” in our most recent Annual Information Form dated April 30, 2012 (“AIF”), “Risk Management” in our current MD&A and risk factors described in other documents we file from time to time with securities regulatory authorities, all of which are available on the Hong Kong Stock Exchange at http://www.hkexnews.hk, on the SEDAR website at http://www.sedar.com or our website at http://www.sunshineoilsands.com.
This document does not constitute and is not an offer to sell or a solicitation of an offer to buy Common Shares of the Company in the United States (including its territories and possessions, any State of the United States and the District of Columbia) or elsewhere.
For further enquiries, please contact:
Sunshine Oilsands Ltd.
Mr. John Zahary
President & CEO
Mr. David Sealock
Executive VP, Corporate Operations
Tel: +1-403-984-1446
Email: investorrelations@sunshineoilsands.com
Website: http://www.sunshineoilsands.com
Source: Sunshine Oilsands Ltd.
Asia Fresh News 