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Advisory: Thomson Reuters Reports Full-Year and Fourth-Quarter 2012 Results

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NEW YORK /PRNewswire/ — Thomson Reuters (NYSE, TSX: TRI), the world’s leading source of intelligent information for businesses and professionals, today reported results for the full-year and fourth-quarter ended December 31, 2012. For complete results please visit
(Logo: )

David Girardin
Corporate Affairs
+1-646-223-4870 INVESTORS
Frank J. Golden
Senior Vice President, Investor Relations

Source: Thomson Reuters

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February 14, 2013 at 2:59 pm

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Voice of Future Car Sharing Customer: It’s All about Wholly Sharing and Partly Pairing

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— By Franck Leveque and Mohamed Mubarak Moosa, Frost & Sullivan

LONDON, Feb. 13, 2013 /PRNewswire/ –Vehicle manufacturers increasingly perceive car sharing as a potential differentiator, an additional revenue stream, and an opportunity to get closer to their customers. Yet even though the 60 year old concept has innovated itself in recent years by creating new business models like one-way, two-way floating, and P2P car sharing, there is still untapped potential with regard to drivers and travellers, who are not a member of a car sharing scheme yet.

Frost & Sullivan recently completed a voice-of-the-consumer study analysing the feedback from non-car sharing members in selected European cities in France, Germany, and the United Kingdom.

This research project was conducted with an overall sample size of 2,348 respondents in five key cities in each of the three countries and the objective was to get information on transport usage and commuting profiles, interest in car sharing, expectations of car sharing, the willingness to pay for such a service, and a future demand analysis.

The results illustrate that the market for P2P car sharing is still in its nascent stage and is expected to co-exist alongside traditional car sharing. The interest in using someone else’s car is higher than the interest to make one’s own car available for others to rent. Surprisingly, a correlation exists between the interest in becoming a car sharing member and the interest in making one’s own car available for others to rent.

At the end of the study, nearly 38 per cent of the respondents considered car sharing somewhat/highly relevant for their mobility needs. Based on the optimal car sharing model defined through the ‘Adaptive Choice Based Conjoint’ analysis during this survey, we expect a city like Berlin to show a potential of up to 180,000 members.

The information gathered from the survey can be summarised in the following five key findings:

Catch them young: Young (aged between 25 and 34 years), well educated employees with low access or ownership to a car have shown a high level of interest in car sharing, which compares to about 31 per cent of students being interested.

Car sharing has to co-exist with public transportation: Although respondents view car sharing as a flexible and easy alternative for public transportation, they are only willing to use it in combination with both transport modes. The majority of the respondents prefer a city transport operator as car sharing operator and expect to include car sharing parking spots in front of public transport stations.

More urban car owners to give-up ownership after joining car sharing: About 40 per cent of current car owners with one car are likely to give up car ownership after becoming a member of a car sharing service. About 60 per cent of current car non-owners will not consider purchasing a new car in addition to their car sharing membership.

One-way car sharing with right pricing and operational model will be winning concept: The one-way car sharing model with a 4-seater gasoline engine vehicle available for pickup/drop-off at stations within 200 meter receives the highest preference share of 16.2 per cent. Although the winning concept can be calculated at a price point of €15.50 per hour, a further decrease in price to €7 – €11 can increase market share.

Return to basics of marketing – Familiarity will drive uptake rates: Only one among four non-members is familiar with the car sharing concept and only 28 per cent are interested in becoming a member. The relevance of the car sharing concept has become even more appealing to about 38 per cent of the respondents interested, after a detailed introduction of the concept.

About the market and this study:

For 2013 Frost & Sullivan expects traditional car sharing to reach about three million members with 70,000 vehicles globally. It is expected to increase nine-fold, reaching about 26.2 million members by 2020 globally. On similar lines, the emerging European peer-to-peer (P2P) car sharing market, which had 13 operators in 2010, witnessed almost 85-90 per cent growth in one year with 24 operators in 2011.

The study used the ‘Adaptive Choice Based Conjoint’ methodology, enabling the possibility to create different simulations of car sharing models and generating the respective pricing and market share. The list of the cities surveyed includes Paris, Lyon, Marseille, and Toulouse in France; Berlin, Munich, Hamburg, and Cologne in Germany; London, Manchester, Birmingham, and Edinburgh in The United Kingdom.

About the Authors:
Franck Leveque is Vice President for Frost & Sullivan’s Automotive & Transportation Practice; Mohamed Mubarak Moosa is Programme Manager Automotive & Transportation at Frost & Sullivan.

Join us for our upcoming event Urban Mobility 3.0
Frost & Sullivan will be hosting its two day event on 19-20 June 2013 for the 4th time this year, taking place in London at the House of Lords and the Siemens Crystal Building. The debate on day 1 at the House of Lords will be attended parliamentarians and industry executives. Day 2 will consist of 5 different panels, focussing on megatrends and their impact on mobility, new business models, such as mobility integration, car sharing, and new fleet/leasing models, urban logistics an online retailing, the future of public transport, including HSR, BRT buses, PRT and hybrid/electric buses, as well as autonomous driving and infrastructure trends. For more information, visit:

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 Propositionprovides 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 organisation 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

Katja Feick
Corporate Communications – Europe
P: +49 (0) 69 7703343

Written by asiafreshnews

February 14, 2013 at 2:56 pm

Posted in Uncategorized

Increasing Surgical Volumes to Boost Use of Tissue Sealants and Topical Haemostats, Says Frost & Sullivan

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  • Innovative products that support enhanced cost, clinical and patient safety outcomes will gain appeal

LONDON, Feb. 13, 2013 /PRNewswire/ — The need for quality care, especially for a rapidly ageing population, is a strong driving factor for the tissue sealants and haemostats market in Western Europe. Technologically advanced products that enhance surgical efficiency and patient safety will also boost market prospects.

New analysis from Frost & Sullivan (, Western European Tissue Sealants and Topical Hemostats Market, finds that the market earned revenues of $438.1 million in 2011 and estimates this to reach $685.5 million in 2016. The research covers tissue sealants (fibrin and synthetic) and topical haemostats (gelatine-based, collagen-based, thrombin-based, oxidized-regenerated cellulose-based and combination).

“The demand for tissue sealants and topical haemostats products is directly proportional to the total number of surgical procedures performed,” notes Frost & Sullivan Research Analyst Brahadeesh Chandrasekaran. “As Europe’s population ages, the volume and range of surgical procedures conducted is set to increase. This will promote demand for tissue sealants and topical haemostats, because both peri-operative and post-operative bleeding requires immediate attention during complex surgeries.”

Product innovation – such as sealants with drug-delivery applications or novel applicator systems that improve ease-of-use for surgeons – will further encourage the uptake of tissue sealants and topical haemostats. Another positive trend is the development of recombinant- and plant-based and combinatory products. Such products are set to address patient safety concerns that are currently impeding market growth.

At present, most sealants and haemostats are used with high benefits and no complications. In some cases, however, there have been concerns related to biocompatibility and infection-associated risks. This is because some products contain animal-derived components, while others derived from human plasma are subject to the risk of transmission of viral diseases inherent in plasma-derived products.

“This has triggered significant growth in plant-based and combinatory products, because they have proven to be safe for patients,” remarks Chandrasekaran. “Manufacturers that already have green or plant-based products have an edge, provided their products are backed by strong clinical evidence.”

If you are interested in more information on this study, please send an email with your contact details to Anna Zanchi, Corporate Communications, at

Western European Tissue Sealants and Topical Hemostats Market is part of the Advanced Medical TechnologiesGrowth Partnership Service program, which also includes research in the following markets: Medical Device Industry – Recovering from Recession and European Orthopedic Devices Market Outlook. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

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

Anna Zanchi
Corporate Communications – Europe
P: +39-02-4851-6133

Written by asiafreshnews

February 14, 2013 at 2:43 pm

Posted in Uncategorized

UBM Canon MedTech Group & DuPont Partner to Create Medical Packaging Innovation, Europe’s New Online Community for the Medical Device Packaging Industry

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LUXEMBOURG/PRNewswire/ — UBM Canon in partnership with DuPont has launched Medical Packaging Innovation (, a new online community dedicated to addressing the needs of European medical device packaging engineers and designers.
Medical Packaging Innovation connects thought leaders from Europe’s medical packaging ecosystem to share insights and engage with the larger medical device community by offering immediate solutions to design dilemmas and production predicaments as well as commenting on current and emerging trends.
“Developing and designing safe, user-appropriate medical packaging can be every bit as challenging as producing the device that it protects,” says Stephanie Wiseman, Medical Packaging Innovation’s Community Editor. “By fostering a uniquely enriching exchange of information through engaging content written by the medical device packaging professionals in the community,Medical Packaging Innovationwill address the issues facing many engineers and designers creating medical device packaging.”
“A daunting number of factors must be considered when designing medical device packaging,” says Marcelo Miliani, Sales and Marketing Manager at DuPont. “Understanding this, DuPont wanted to provide the European medical device industry a place of true connection where it can continuously discuss and share ideas about packaging: from material selection and sterilization methods to regulatory compliance and testing protocols. The Medical Packaging Innovation community is that place.”
Medical Packaging Innovation is published in partnership with UBM DeusM, the integrated marketing services arm of UBM, which has launched more than 45 online communities for B2B audiences in the past two years. These sites have won more than 65 awards among them.
To access Medical Packaging Innovation go to
Amanda O’Brien
Director of Marketing Services, UBM Canon Media Group
About UBM Canon
UBM Canon LLC, the leading B2B media company dedicated exclusively to the global $3 trillion advanced manufacturing sector, helps support the flow of information, commerce, and innovation in such sophisticated segments as medical devices and pharmaceutical development. UBM Canon also addresses cutting-edge developments in broader areas of advanced engineering design and manufacturing, and manufacturing processes and packaging. UBM Canon is part of UBM plc. (UBM.L) a global provider of media and information services for professional B2B communities and markets.
About DuPont
DuPont has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit
About UBM DeusM
UBM DeusM ( is an integrated marketing services company owned by UBM plc., targeting the fastest growing segment of the online publishing industry: business social media. The company is led by Managing Director Stephen Saunders, Min’s Marketer of the Year 2010. He and the other UBM DeusM principals have built and delivered more than 45 successful sites and online communities over the last two years. UBM DeusM’s service is based on a unique platform, called Community in a Box (CiaB), which employs a structured system of proven B2B Web publishing best-practices, combined with a breakthrough integrated multimedia publishing platform (“n-Server”) to enable marketers to quickly and profitably set up specialized communities for their target customers.
Source: UBM Canon

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February 14, 2013 at 2:19 pm

Posted in Uncategorized

Frost & Sullivan: Digitisation of Australia’s healthcare system met with widespread apprehension

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Failure of several regional health IT projects hinders trust~

SYDNEY, Feb. 12, 2013  /PRNewswire/ — Australia boasts an advanced healthcare system supported by both the public and private sector involvement. The country spent 9.3% of its GDP on healthcare in 2011 and is currently focusing on providing people with the tools to support independent aging care and improve healthcare services in remote regions. While modernisation of healthcare facilities and investment in IT has been rapid over the past ten years, adoption still lags amongst physicians and consumers due to lack of trust in information systems. This lack of trust stems from the failure of several regional health IT projects in recent years.

The Australian healthcare IT market was estimated at AUD 783 million in 2012, which includes software tools and applications leveraged by healthcare providers as well as the professional services needed for implementation and support. The market is expected to reach AUD 1.4 billion by 2018 with a CAGR of 10.3% from 2013-2018. Government incentives towards adoption of Personally Controlled Electronic Health Record (PCEHR) and other healthcare delivery programs such as the Practice Incentives Program (PIP) will be the key driver for market growth. Private players on the other hand are focusing on enhancing customer awareness and engagement in their products.

According to Rhenu Bhuller, Vice President of Healthcare, Frost & Sullivan Asia Pacific, the healthcare IT market in Australia is driven by the shift in emphasis from acute care to prevention. This is apparent from the numerous incentive schemes listed in the PIP, which focus on long-term care including incentives for diabetes detection, cervical screening and asthma. In addition to these, the PIP also encourages digitisation of healthcare providers byincentivising adoption of healthcare IT at the GP level across healthcare organisations.

Australia’s Personal Health Record (PHR) program opens doors for private investment in eHealth across the country. The Australian market for Electronic Medical Records (EMR) and Electronic Health Records (EHR) is expected to grow at a CAGR of 15.1% between 2013 and 2018. On average, healthcare providers spend a little less than 2% of their operating expenditure on IT which is less than the global average spend of 3.6% as quoted by CeBIT, Australia. This is essentially because hospital CIOs find it hard to justify significant budget allocations towards activities not directly impacting healthcare delivery, particularly when returns on investment are below expectations. Hospitalspend on IT is expected to rise under the influence of government incentives to drive adoption.

However, the PCEHR has been received with strong apprehension and even criticism on some aspects across the country. Adoption of PCEHR has been dismal essentially due to the complexity of procedures and requirements for both physicians and consumers. So severe is the issue that the Australia Medical Association (AMA) has called for a step-by-step toolkit to help medical practitioners to participate in PCEHR. Even the PIP for eHealth, popularly termed ePIP, has been received with criticism and scanty adoption with only about half of all general practices in Australia applying for or assigned a Healthcare Provider Identifier – Organisation (HPI-O) number, a prerequisite for payment eligibility.

Bhuller says, “Moreover, while digitisation of health records has made it easier for people to manage their health information, most consumers are anxious about data security. Data privacy laws in Australia are expected to be amended in the next 15 months, but until then patients are concerned about how their medical information is being stored and shared”.

“Legacy health IT systems in Australia have been largely uncoordinated. While the country has put tremendous effort in health IT from both a resource and investment perspective, it is difficult to say that these have been hugely successful due to the lack of integration across regional IT systems, as can be seen from the failure of the HealthSMART project” she stated.

By using some of these prior learnings to improve on implementation, Government authorities are optimistic about the prospects of IT in healthcare. They are driving IT adoption by openly accepting and implementing feedback from the public and incentivising eHealth practices. Private software vendors and system integrators expect significant returns from the market essentially because there are opportunities for implementing large-scale installations spanning several healthcare providers.

As cited in a recent Accenture report, EMR and EHR adoption was estimated at 78% across public and private healthcare providers from 2008-2013 and this is expected to grow. Bhuller finished by saying that as clinical systems advance, demand will flare for sophisticated intelligence and analytics tools to help healthcare providers manage and make sense out of the large volumes of data so that they may improve healthcare management and, in the long run,healthcare costs.

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. 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

Media Contacts:
Donna Jeremiah
Corporate Communications, Asia Pacific
P: +61-02-8247-8927

Written by asiafreshnews

February 14, 2013 at 12:50 pm

Posted in Uncategorized

PUMA Launches InCycle, The Brand’s First “Cradle to Cradle Certified[CM] Basic” Collection of Biodegradable and Recyclable Products

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BOSTON/PRNewswire/ —
Global Sportlifestyle company PUMA launches InCycle, the brand’s first closed-loop collection of footwear, apparel and accessories, all of which have earned the “Cradle to Cradle Certified[CM] Basic” certification. PUMA’s InCycle products are entirely biodegradable or recyclable. This product introduction is another important step in PUMA’s mission to become the most sustainable and desirable Sportlifestyle company.
(Photo: )
“PUMA’s Cradle to Cradle Certified[CM] Basic InCycle products represent a tremendous step forward in reducing our environmental footprint and giving consumers a more sustainable product choice. The InCycle Basket and Basket Tee Biodegradable have been analyzed as part of PUMA’s first Product Environmental Profit and Loss Account published in October 2012 and the results speak for themselves, showing that these two products impacted the environment by a third less than their conventional counterparts” said Reiner Hengstmann, Global Director of PUMA Safe.
The PUMA InCycle Collection was born from PUMA’s challenge to produce a fully recyclable or biodegradable collection as part of the learning journey to improve the sustainability of its products. PUMA collaborated with EPEA, to develop the collection, whose mission it is to help companies fulfill the Cradle to Cradle Products Innovation Institute’s criteria for the design of ecologically and intelligently designed products. All products in the InCycle collection have been certified by the Cradle to Cradle Products Innovation Institute, whose mission is to provide a continuous improvement quality program to guide product manufacturers and designers in making safe and healthy products for our world. Cradle to Cradle has created a rigorous certification program that rates products against five sustainability factors: 1) the use of environmentally safe and healthy materials; 2) design for material reutilization including recycling and composting; 3) renewable energy and management of carbon; 4) water stewardship; and 5) social fairness.
“We are delighted to have PUMA, such a powerful global brand, showing consumers and industry peers exactly what is possible through the adoption of the Cradle to Cradle Certified Products Program,” said Bridgett Luther, President of the Cradle to Cradle Products Innovation Institute. “PUMA’s InCycle Collection raises the bar on what consumers can expect and what the apparel and textiles industries can deliver: products that are not only a delight to use and wear and but are also designed from the start to have a positive environmental footprint as they biodegrade safely to soil and are returned to industry as a valuable resource.”
The PUMA InCycle collection can be broken down using one of two processes: the Technical Cycle or the Biological Cycle. Materials within the Biological Cycle can be broken down by microorganisms into biological nutrients and will go back into the earth, thus making them biodegradable. Materials found within the Technical Cycle – such as metals, textiles, and plastics – can then be used to create new products.
InCycle Biodegradable Products
A precondition of biodegradable products is that they must be made only of biodegradable materials including organic fibers without toxic chemicals, and they have to follow certain international standards for composting. This ensures that the sourcing and manufacturing processes of biodegradable PUMA products create the least environmental impact possible.
Within the InCycle range, PUMA’s Basket Tee is fully compostable through industrial composting. PUMA’s Shopper is constructed with minimal materials, all of which can be reused.
The upper of the PUMA Basket lifestyle sneaker is made from a mix of organic cotton and linen while the sole is composed of the biodegradable plastic APINATbio©, a new material innovation that’s biodegradable. APINATbio can be shredded into its component materials and composted into natural humus that goes back into the ecosystem.
InCycle Recycled Products
PUMA’s recyclable InCycle products include the PUMA Track Jacket and the PUMA Backpack, which use homogenous materials to ensure they are fully recyclable at the end of their lifespans. The PUMA Backpack is made of polypropylene which can be broken down to the original substance and used again to make new backpacks.
The recyclable PUMA Track Jacket is made from recycled polyester deriving from used PET bottles. To fully ensure the homogeneity of materials, the Track Jacket’s zipper is made from recycled polyester, as well. The InCycle PUMA Track jacket can be turned back into polyester granulate which then serves as a secondary raw material for other products made of recycled polyester, reducing the need for crude oil, energy and the amount of waste created.
To aid in the product collection and recycling process, PUMA has launched the “Bring Me Back” program globally within PUMA Stores and PUMA Outlets. PUMA has installed recycling bins instore where customers can return used shoes, clothing and accessories of any brand. The “Bring Me Back” program, which is run in cooperation with global recycling company I:CO, is designed to give consumers a convenient means of recycling products and lessening their environmental impact.
PUMA’s InCycle collection will be available in stores in March 2013 and online at For further information about the InCycle Collection and the Bring Me Back Program visit
Notes to editors:
Cradle to Cradle Certified[CM] is a certification mark licensed by the Cradle to Cradle Products Innovation Institute.
Media Contact:

Collette O’Neill, PUMA International PR
Source: PUMA SE

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February 14, 2013 at 12:09 pm

Posted in Uncategorized

Essar Steel Minnesota LLC signs a landmark Iron Ore Pellet Off Take Agreement with ArcelorMittal USA

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HIBBING, Minn. /PRNewswire/ — Essar Steel Minnesota LLC (“ESML” or the “Company”) is pleased to announce that it has entered into a long term iron ore pellet off-take agreement with ArcelorMittal USA (“AMUSA”). The term of the agreement is ten years and the supply of pellets is expected to commence during the second half of ESML’s fiscal year ending March 31, 2014.
As per the agreement, ESML will supply 3.5 million metric tonnes of standard and fluxed iron ore pellets annually to ArcelorMittal’s North American operations.
ESML has approximately 2.0 billion metric tonnes of measured, indicated and inferred magnetite resources, out of which approximately 1.7 billion metric tonnes are proven and probable reserves. Furthermore, the Company also has about 290 million metric tonnes of hematite resources. ESML is presently constructing a 7.0 million metric tonnes per annum iron ore pellet plant at Nashwauk in Northern Minnesota, at an investment of US$ 1.7 billion.
Madhu Vuppuluri, President and Chief Executive Officer of ESML said: “This off-take agreement demonstrates the marketability of ESML’s high quality products to third parties in addition to Essar Steel Algoma.” He further added that ESML’s diverse product portfolio will include standard, flux and DR grade pellets, and ESML will be the only producer capable of producing all three types of pellets in Unites States.
John Brett, Executive Vice President for Finance, Planning and Procurement of ArcelorMittal, USA, said: “We are pleased to enter into this long term off take agreement with ESML. This off-take agreement is consistent with our strategy of securing long term supply of critical raw materials within the region, and it provides material that meets the stringent standards of our blast furnaces. ESML’s ability to provide different types of pellets provides us the flexibility to utilize the product at multiple furnaces. ”
About Essar Steel Minnesota
Essar Steel Minnesota LLC is a private resources company engaged in the development and mining of iron ore. ESML’s iron ore operations are located in the western end of the Mesabi Iron Range in Minnesota, strategically close to critical infrastructure, including rail, port, and surface connectivity systems. The Company is engaged in the construction of a mine, concentrator and a 7.0 million metric tonnes per annum iron ore pellet plant. The Company has access to significant magnetite resources which are National Instrument (“NI”) 43-101 compliant, with approximately 1.8 billion metric tonnes of measured and indicated resources, out of which approximately 1.7 billion metric tonnes are proven and probable reserves, and an additional 200 million metric tonnes of inferred resources. In addition the Company also has about 290 million metric tonnes of hematite resources. Essar Steel Minnesota LLC is part of the Essar Group.
For more information about Essar Steel Minnesota, please visit:
About Essar Group
The Essar Group is a multinational conglomerate and a leading player in the sectors of steel, oil and gas, power, BPO and telecom services, shipping, ports and projects and resources. With operations in more than 25 countries across five continents, the Essar Group employs over 75,000 people, with annual revenues of US$27 billion.
About ArcelorMittal
ArcelorMittal is the world’s leading integrated steel and mining company, with a presence in more than 60 countries.
ArcelorMittal is the leader in all major global steel markets, including automotive, construction, household
appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. With an industrial presence in over 20 countries spanning four continents, ArcelorMittal covers all of the key steel markets, from emerging to mature.
Through its core values of sustainability, quality and leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and well-being of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment. It takes a leading role in the industry’s efforts to develop breakthrough steelmaking technologies and is actively researching and developing steel-based technologies and solutions that contribute to combat climate change.
In 2012, ArcelorMittal had revenues of $84.2 billion and crude steel production of 88.2 million tonnes, representing approximately 6 percent of world steel output.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal, please visit:
For further information:
Media Contact: Mahendra Mishra, Asst. VP (Commercial)
Essar Steel Minnesota LLC; Email:; Contact: +1(218)312-1424
Source: Essar Steel Minnesota LLC

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February 14, 2013 at 12:00 pm

Posted in Uncategorized

Find the Perfect Ring (Size) Online via Innovative App

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ANTWERP, Belgium /PRNewswire/ —
Buying music, choosing travel destinations and browsing clothes: buying a diamond (engagement) ring online has never been so easy.
To view the Multimedia News Release, please click:
BAUNAT ( this morning launched their newest tool, an innovative application for Android and iPhone users. While it assists the user in selecting the perfect ring, the uniqueness of this app lies in the fact that it allows users to measure their exact ring size thanks to the latest technologies. Furthermore, it’s also possible to create a realistic image of all rings, worn on the app’s user’s finger.
The launch of this innovative app strengthens BAUNAT’s position as the trendsetting jewellery brand.
The app can be downloaded in the App store and Google Play Store (Android) and is free of any cost.
The app is available in English and Chinese.
Note for editors
BAUNAT, an innovative Belgian diamond jewellery brand, was established in 2008 in Antwerp, the world centre of the diamond trade. The brand exports today already approx. 90% of its high end branded jewellery to more than 50 countries. Almost 90% of sales are concluded via E-boutique, available in 6 languages (NL-ES-DE-ENG-FR-CN with Portuguese to follow in 2013) and 4 currencies, while the remaining 10% is sold in the showrooms of Antwerp (diamond district) & Paris (16th district). Since August 2012 BAUNAT has also opened a branch in Hong Kong. New offices in India (2013), Geneva (2013), China (2014) & Brazil (2014) are planned for the coming years.

Source: Baunat

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February 14, 2013 at 11:51 am

Posted in Uncategorized

Betfred Boss: It’s Done and Dusted for United

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MANCHESTER, England /PRNewswire/ —
Betfred boss Fred Done is making his earliest ever pay-out on his beloved Manchester United winning the Premier League title.
And that comes despite the Salford bookie famously losing over GBP1million by paying punters early on United and getting burned twice before – including last season.
Sunday’s 2-0 victory for Sir Alex Ferguson’s men over Everton combined with Manchester City’s shock 3-1 loss at Southampton extended the Red Devils’ lead at the top to 12 points.
And Done decided to hand over GBP300,000 to United backers with 12 games still to play – almost a third of the campaign, including a derby against nearest challengers City.
Fred Done said: “After it all went wrong last year, my missus made me promise to never do it again.
“But with United 12 points clear with just 12 games left the title race is over – so my punters can collect their dough on United.”
The Betfred chief was the first person to pay out early on United in March of 1998, when they blew an identical 12-point lead and were pipped to the title by a point by Arsenal.
That cost lifelong Reds fan Done a cool half a million – a loss matched last term after paying out on United when five points clear with seven games remaining.
A late collapse saw bitter rivals Manchester City famously snatch the title with virtually the last kick of the season against Queens Park Rangers.
Done is risking the wrath of Sir Alex Ferguson and United fans. Fergie told him never to repeat the move after 1998, and fans have blamed him for jinxing last season’s challenge.
But despite being stung in the past he is sure that there is now no way back for United’s rivals – and insists they are a cert to clinch a 20th Premier League crown.
Meanwhile Manchester United are preparing to take on Real Madrid in the Champions League and they are 4/1 at to win the first leg.

Source: Betfred

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February 14, 2013 at 11:31 am

Posted in Uncategorized

SHUAA: Earnings Release

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DUBAI, UAE /PRNewswire / —
SHUAA 2012 results and successful strategy execution in line with market guidance
Full Year 2012 highlights:
Total Revenues up 38% to AED137.3 m from AED99.3 m in FY 2011
Total Expenses reduced by AED163.0 m, a 45% improvement, to AED199.3 m from AED362.3 m in FY 2011
Net Loss improved by 80% to AED59.0 m, a reduction of AED234.8 m on prior year
Lending and Asset Management were profitable in 2012
Cost/Income Ratio was 138% an improvement of 43% year-on-year
Fourth Quarter 2012 highlights:
Total Revenues increase of 25% to AED25.2 m from AED20.1 m in Q4 2011
Total Expenses reduced by AED100.1 m to AED39.2m from AED139.3 m, a 72% improvement
Net loss reduction of 81% to AED20.7 m compared to a net loss of AED111.9 m in Q4 2011
Balance Sheet highlights:
Total Assets of AED1.4 bn were AED231.1 m lower than in December 2011
Cash and Deposits with Banks, up 24% to AED423.3 m from AED340.2 m
Total Liabilities reduced by AED167.8 m to AED269.4 m, down 38% from AED437.2 m
Bank borrowings stood at AED136.3 m, down from AED275.9 m
Total Shareholder’s Equity reduced by AED63.4 m to AED1.1 bn
Book Value per Share is AED1.04
Gulf Finance awarded “Best SME Finance Company” at the Banker Middle East Industry Awards, recognizing its SME financing activities for the second consecutive year
SHUAA Asset Management received “Best Asset Manager in the UAE” award from EMEA Finance magazine for the third consecutive year
SHUAA Asset Management’s Emirates Gateway Fund voted “UAE Equity Fund of the Year” by MENA Fund Manager for the second year in a row
SHUAA ended the year 2012 with a strong balance sheet and liquidity, considerably improved its bottom line result and regained its standing in the regional financial services industry. The net loss for 2012 was AED59.0 m, an 80% improvement on 2011’s AED293.8 m loss. This result is within the forecast range that SHUAA communicated in October 2012. The improvement was driven primarily by the successful completion of the restructuring and rightsizing programme. Total expenses for the year were reduced by AED163.0 m. General and Administrative expenses were down AED37.7 m as the number of staff was reduced and processes made more efficient. The Lending business recorded a AED13.7 m expenses increase in line with its expansion plans in the UAE and Saudi Arabia. All other business units recorded a significant decrease of expenses totalling AED51.4 m. This represents a year-on-year improvement of 29%.
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During the first half of 2012, SHUAA incurred charges related to the Company’s restructuring programme, which only started to have a positive impact on General and Administrative expenses during the second half of 2012. The full impact of the 2012 restructuring programme is expected to be recognized in 2013 with an additional cost improvement of 10%.
Revenues for Q4 2012 were AED25.2 m compared to AED20.1 m for Q4 2011, representing an increase of 25% and bringing 2012 annual revenues to a total of AED137.3 m, a 38% increase over 2011 revenues of AED99.3 m. Revenues were buoyed by an increase in interest income and a positive swing in investments in SHUAA’s managed funds.
In the fourth quarter 2012, SHUAA achieved its strategic and financial objectives. The fourth quarter net loss improved to AED20.7 m from a loss of AED111.9 m in the same period last year with the benefits of the rightsizing programme showing a positive impact on the Company’s bottom line. SHUAA continues to prudently value its assets and as such there were no investment impairments in the period.
SHUAA further strengthened its balance sheet. As at 31 December 2012, total assets stood at AED1.4 bn. Cash and deposits rose 24% to AED423.3 m. Throughout the year, the Company continued to reduce liabilities by retiring debt. Total liabilities consequently fell by 38% to AED269.4 m from AED437.2 m at the end of 2011, lowering interest expenses by 28 % to AED11.7 m from AED16.2 m in 2011.
HH Sheikh Maktoum Hasher Al Maktoum, Executive Chairman of SHUAA Capital, commented on the results:
“Despite the volatile market environment in 2012, SHUAA’s financial results for the full year are in line with our market guidance. Strategically, 2012 was a transformational year for SHUAA and the business achieved key milestones in its announced restructuring programme. We successfully completed four major turnaround initiatives, including the rightsizing programme, the reduction in non-core assets, the transformation of our industry leading balance sheet by strengthening our liquidity position and the announcement of a clear strategic, financial and operational roadmap with a focus on recurring revenue generation.
The reduced scale of our industry and the renewed need for capital and advisory expertise are playing out in our favour. While most of the regional financial services industry is still in restructuring mode, SHUAA now has a competitive advantage and the ability to focus on revenue generation. The recent revitalization of our financial brand and the positive feedback on our strategic direction from shareholders and clients underscore our position of strength versus peers. SHUAA is now in a unique position to focus on growth which will result in a stronger performance in 2013.”
Segmental Information
SHUAA’s Lending division recorded full year revenues of AED75.6 m (FY2011: AED61.2 m) and Q4 revenues of AED19.9 m (Q4 2011: AED18.2 m). Full year profit was AED3.0 m (FY2011: AED23.4 m), with a marginal quarterly loss of AED0.8 m (Q4 2011: profit of AED5.4 m). Overall, Lending had another strong year and contributed over 55% of SHUAA’s revenues in 2012.
In 2012, Gulf Finance Corporation generated a net profit of AED 10.0 m, offset by a significant investment of AED 7.1 m in the recently launched Gulf Installments Company in Saudi Arabia and the establishment of SHUAA Credit. In line with its strategy, SHUAA has successfully redeployed parts of its balance sheet to GFC.
During the year, Gulf Finance Corporation has applied with the UAE Central Bank for a license to establish an Islamic Window for some of its financing activities with a view to being market-ready in the spring of 2013, subject to regulatory approvals.
Gulf Finance was awarded the “Best SME Finance Company” at the 2012 Banker Middle East Industry Awards. This is the second consecutive year that Gulf Finance has been recognized for its SME lending activities.
Asset Management
The Asset Management business, which manages SHUAA’s investment funds, private equity funds, as well as discretionary portfolio mandates, recorded revenues of AED18.0 m in the year under review (FY2011: AED23.8 m) and a net profit of AED1.8 m (FY2011: AED5.2 m). Q4 saw revenues of AED4.2 m (Q4 2011: AED6.3 m) and a profit of AED2.1 m (Q4 2011: AED2.6 m).
SHUAA’s flagship funds, the Arab Gateway Fund and the Emirates Gateway Fund, continued to outperform their peers and benchmarks. The Arab Gateway Fund returned 9.02% in 2012, outperforming its benchmark, the S&P Pan Arab Composite Index, by 5.1%. The Emirates Gateway Fund also outperformed its peers with a performance of 30.94% in 2012, 3.85% above its benchmark, the S&P UAE Composite Index.
SHUAA Credit is working closely with the Asset Management team on the development of credit products to be launched in 2013.
In the second half of the year, SHUAA closed its SHUAA Partners Fund following the sale of its two remaining investments generating an IRR of 7.6% over its investment period. During the Fund’s vintage period, from 2005 to 2012, public equity markets in the UAE (MSCI UAE Index) posted a decline of 78%.
SHUAA Capital was chosen as the Best Asset Manager in the United Arab Emirates by EMEA Finance for the third consecutive year. Early in 2013, the Emirates Gateway Fund was voted “UAE Equity Fund of the Year” by MENA Fund Manager for the second year in a row.
Investment Banking
In Q4, revenues were AED1.8 m (Q4 2011: AED0.7 m) and the division recorded a loss of AED0.7 m (Q4 2011: loss of AED2.5 m). The Investment Banking Division recorded annual revenue growth of 64% to AED11.2 m (FY2011: AED6.8 m) and improved its bottom line by 90% to a net loss of AED1.4 m (FY2011: loss of AED14.4 m).
In April, SHUAA was joint-lead manager on the successful IPO of NMC, a leading integrated UAE healthcare provider. This was notable for being the first ever Abu Dhabi company to list on the London Stock Exchange. Towards the end of 2012, SHUAA entered into a Memorandum of Understanding with PT Pratama Capital Indonesia regarding collaboration between the two firms, to offer a variety of investment banking services to issuers and investors in the UAE and the Republic of Indonesia.
Also, towards the year end, SHUAA was appointed financial advisor to Urbanos Group, Portugal’s leading ground handling and logistics company. SHUAA was appointed to offer support and advisory services for business development and funding requirements as Urbanos establishes its hub in Dubai and builds out its operations regionally.
The business recorded revenues of AED8.1 m in the year under review (FY2011: AED19.9 m) and a net profit of AED0.3 m (FY2011: loss of AED129.9 m). In Q4, revenues were AED0.6 m (Q4 2011: AED2.6 m) and the division recorded a loss of AED2.3 m (Q4 2011: loss of AED86.9 m).
Due to the exit from the retail brokerage business, total expenses related to brokerage fell 95% to AED7.8 m from AED152.6 m in FY2011. SHUAA expects to close down retail brokerage in the first half of 2013.
The corporate centre recorded full year revenues of AED24.4 m (FY2011: negative revenues of AED12.4 m) and an overall loss of AED62.7 m (FY2011: loss of AED178.1 m). In Q4, revenues were negative AED1.4 m (Q4 2011: negative revenues of AED7.7 m) and the division recorded a loss of AED19.0 m (Q4 2011: loss of AED30.6 m). Headcount at the end of 2012 was 200 compared to 282 at the year-end 2011.
Cautionary Statement Regarding Forward-Looking Information
This document contains forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Forward-looking statements can be identified by words such as: “anticipate,” “aspire,” “intend,” “plan,” “goal,” “objective,” “seek,” “believe,” “project,” “estimate,” “expect,” “forecast,” “strategy,” “target,” “trend,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods.
Examples of forward-looking statements include, among others, statements we make regarding:
Expected operating results, such as revenue growth and earnings.
Anticipated levels of expenditures and uses of capital
Current or future volatility in the capital and credit markets and future market conditions.
Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: Our ability to maintain adequate revenue levels and cost control; economic and financial conditions in the global markets and regional markets in which we operate, including volatility in interest rates, commodity and equity prices and the value of assets; the implementation of our strategic initiatives, including our ability to effectively manage the redeployment of our balance sheet and the expansion of our strategic businesses; the reliability of our risk management policies, procedures and methods; continued volatility in the capital or credit markets; geopolitical events; developments and changes in laws and regulations, including increased regulation of the financial services industry through legislative action and revised rules and standards applied by our regulators.
Any forward-looking statement made by us in this document and presentation is based only on information currently available to us and speaks only as of the date on which it is made. No representation or warranty, express or implied, is made as to the accuracy, completeness or fairness of the information and opinions contained in this document. We undertake no obligation to publicly update any forward-looking statement whether as a result of new information, future developments or otherwise.
SHUAA Capital psc (‘SHUAA’) offers client-centric, fully integrated financial services. SHUAA, headquartered in Dubai, United Arab Emirates, services corporate and institutional clients as well as family businesses and high-net-worth-individuals with expertise in the areas of asset management, investment banking advisory services, capital markets and credit. SHUAA was established in 1979 by Emiri decree No. 6. SHUAA is a public shareholding company, regulated as a financial investment company by the UAE Central Bank, and its stocks are listed on the Dubai Financial Market.
For further information please contact:
Oliver Schutzmann
Head of Investor Relations & Corporate Communications
Tel: +971-4-319-9872
Mobile: +971-50-640-5722
Source: SHUAA Capital psc

Written by asiafreshnews

February 14, 2013 at 11:04 am

Posted in Uncategorized