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Archive for September 2013

ECU Line Acquires 100% Interest in Econocaribe Consolidators

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Econocaribe – One of the Largest LCL Cconsolidators in USA

Acquisition to Strengthen and Increase Presence in the US Market

SINGAPORE, Sept. 27, 2013 /PRNewswire/ —  ECU Line, part of the Avvashya Group, today announced the acquisition of 100% interest in Econocaribe Consolidators, a US based logistics company.

Econocaribe, incorporated in 1968, is today the 3rd largest LCL consolidator (NVOCC) in the US. With its headquarters in Miami, Florida, Econocaribe has 9 offices in the US and 22 receiving terminals throughout the US and Canada, as well as partners across the world. Econocaribe specializes in freight consolidation and FCL services to Latin America, the Caribbean, Europe, the Mediterranean, the Middle East, Africa and Asia. They also offer import LCL/FCL transportation services from around the world into the United States and Puerto Rico.

Ecu Line has, in recent years, been working in the USA, engaging Econocaribe as its agent. This acquisition now enables Ecu Line to complete its service offerings, both in terms of global capabilities and coverage.  The acquisition also increases ECU’s foot hold in the US market — which, as we all know, is the #1 economy in the world.

Speaking about the acquisition, Mr. Shashi Kiran Shetty, Executive Chairman Avvashya Group, said,“Econocaribe has been our partner in the US and we have worked very closely with them.  They have an extremely efficient and capable management team that has taken the company to being amongst the top NVOCCs in the US. I am very happy that now they are a part of our family and we have now become truly a global MNC, which is a dream achieved”.

Mr. John Abisch, President, Econocaribe Consolidators, said, “Myself and the Econocaribe family look forward to joining the ECU team.  Econocaribe has had the pleasure to be the USA agent for ECU for a number of years and I am confident our philosophies are aligned which should make for a smooth transition.   I expect both organizations will benefit from joining forces and allow us to provide a great environment for our employees and great service to our clients”.

About ECU Line

ECU-LINE is a global NVOCC with headquarter in Antwerp, Belgium and is part of The AVVASHYA Group headquartered in India. With 190 offices in over 90 countries and more than 3000 employees, the company is one of the market leaders in its industry segment.

Press-Contact: 
Harm Wessels
Manager Global Branding and Marketing
Phone: +32-3-544-3903
Email: HarmWessels@eculine.com

Source: ECU Line

Written by asiafreshnews

September 30, 2013 at 4:37 pm

UBM ASEAN to Launch the Philippines’ First International Beauty Trade Show

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MANILA, Philippines, /PRNewswire/ — UBM ASEAN is pleased to announce the launch of PhilBeauty, a brand new international beauty trade show in the Philippines. This will be the only beauty show in the Philippines which offers local and international buyers and suppliers the opportunity to meet and network in a professional business environment.
With a population of almost 100 million, the Philippines is one of the largest beauty markets in South-East Asia. It enjoys positive economic growth and an expanding middle class. Rising disposable incomes have increased demand for grooming and personal care products, and international and domestic brands are eager to capitalize on the growth.
The Philippines International Beauty Conference 2014, which will be held alongside the 3-day exhibition, will be led by some of the most influential experts in the industry offering fresh insights into the most current issues and topical trends. The exhibition will also host several product knowledge workshops and seminars as part of the professional education programme.
“We are pleased to be a part of this fast-growing beauty market, and to help stimulate its development by providing a platform for buyers and trade professionals from the Philippines and surrounding region to network with local and international suppliers, forge partnerships and conduct business,” said M Gandhi, Managing Director, UBM ASEAN Business.
Dr Mike Turvill, President of the Chamber of Cosmetics Industry of the Philippines (CCIP) welcomes the initiative: “With the abundance of natural resources, the Philippines has the potential to create a strong domestic industry. PhilBeauty will be an important showcase for domestic products and services, and to generate new business and infuse new ideas.”
PhilBeauty will take place at the SMX Convention centre from 18-20 June 2014 in Manila, Philippines.
Notes to Editor:
PhilBeauty is organized by UBM ASEAN, part of UBM Asia.
About UBM Asia (www.ubmasia.com) Owned by UBM plc listed on the London Stock Exchange, UBM Asia is Asia’s leading exhibition organiser and the biggest commercial organiser in mainland China, India and Malaysia. Established with its headquarters in Hong Kong and subsidiary companies across Asia and in the US, UBM Asia has a strong global presence in 25 major cities with 30 offices and over 1,200 staff.
With a track record spanning over 30 years, UBM Asia operates in 19 market sectors with 160 dynamic face-to-face exhibitions, 75 high-level professional conferences, 28 targeted trade publications, 18 round-the-clock vertical portals and virtual event services for over 1,000,000 quality exhibitors, visitors, conference delegates, advertisers and subscribers from all over the world. We provide a one-stop diversified global service for high-value business matching, quality market news and online trading networks.
UBM Asia has extensive office networks in China, Southeast Asia and India, three of the world’s fastest growing B2B events markets. UBM China has 11 offices in the major cities in mainland China, including Beijing, Shanghai, Guangzhou, Hangzhou, Chengdu and Shenzhen, where we organise more than 60 exhibitions and conferences. UBM ASEAN operates from its offices in Malaysia, Thailand, Indonesia, Singapore, Vietnam and the Philippines with over 50 events in this region. UBM India teams in Mumbai, New Delhi, Bangalore, Chennai and Hyderabad organise 20 exhibitions and 60 conferences every year across the country.
Source: UBM Asia (Malaysia)

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September 30, 2013 at 4:31 pm

Posted in Uncategorized

Kaspersky Lab Exposes “Icefog”: A New Cyber-Espionage Campaign Focusing on Supply Chain Attacks

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New trend: the emergence of small groups of cyber-mercenaries available for hire to perform surgical hit and run operations

SINGAPORE, Sept. 27, 2013 /PRNewswire/ — Kaspersky Lab’s security research team today published a new research paper on the discovery of “Icefog”, a small yet energetic APT group that focuses on targets in South Korea and Japan, hitting the supply chain for Western companies. The operation started in 2011 and has increased in size and scope over the last few years.
Icefog Timeline
Icefog Timeline

Icefog
Icefog

“For the past few years, we’ve seen a number of APTs hitting pretty much all types of victims and sectors. In most cases, attackers maintain a foothold in corporate and governmental networks for years, smuggling out terabytes of sensitive information,” said Costin Raiu, Director, Global Research & Analysis Team. “The ‘hit and run’ nature of the Icefog attacks demonstrate a new emerging trend: smaller hit-and-run gangs that go after information with surgical precision. The attack usually lasts for a few days or weeks and after obtaining what they were looking for, the attackers clean up and leave. In the future, we predict the number of small, focused ‘APT-to-hire’ groups to grow, specializing in hit-and-run operations; a kind of ‘cyber mercenary’ team for the modern world.”

Main Findings:

Based on the profiles of identified targets, the attackers appear to have an interest in the following sectors: military, shipbuilding and maritime operations, computer and software development, research companies, telecom operators, satellite operators, mass media and television.
Research indicates the attackers were interested targeting defense industry contractors such as Lig Nex1 and Selectron Industrial Company, ship-building companies such as DSME Tech, Hanjin Heavy Industries, telecom operators such as Korea Telecom, media companies such as Fuji TV and the Japan-China Economic Association.
The attackers hijack sensitive documents and company plans, e-mail account credentials, and passwords to access various resources inside and outside the victim’s network.
During the operation, the attackers use the “Icefog” backdoor set (also known as “Fucobha”). Kaspersky Lab has identified versions of Icefog for both Microsoft Windows and Mac OS X.
While in most other APT campaigns, victims remain infected for months or even years and attackers continuously steal data, Icefog operators process victims one by one — locating and copying only specific, targeted information. Once the desired information has been obtained, they leave.
In most cases, the Icefog operators appear to know very well what they need from the victims. They look for specific filenames, which are quickly identified, and transferred to the C&C.

The Attack & Functionality

Kaspersky researchers have sinkholed 13 of the 70+ domains used by the attackers. This provided statistics on the number of victims worldwide. In addition, the Icefog command and control servers maintain encrypted logs of their victims together with the various operations performed on them. These logs can sometimes help to identify the targets of the attacks and in some cases, the victims. In addition to Japan and South Korea, many sinkhole connections in several other countries were observed, including Taiwan, Hong Kong, mainland China, the USA, Australia, Canada, the UK, Italy, Germany, Austria, Singapore, Belarus and Malaysia. In total, Kaspersky Lab observed more than 4,000 unique infected IPs and several hundred victims (a few dozen Windows victims and more than 350 Mac OS X victims).

Based on the list of IPs used to monitor and control the infrastructure, Kaspersky Lab’s experts assume some of the players behind this threat operation are based in at least three countries: China, South Korea and Japan.

Kaspersky Lab’s products detect and eliminate all variants of Icefog malware.

To read the full report with a detailed description of the backdoors, other malicious tools and stats, together with indicators of compromise, see Securelist. A complete Icefog FAQ is also available.

About Kaspersky Lab

Kaspersky Lab is the world’s largest privately held vendor of endpoint protection solutions. The company is ranked among the world’s top four vendors of security solutions for endpoint users*. Throughout its more than 16-year history Kaspersky Lab has remained an innovator in IT security and provides effective digital security solutions for large enterprises, SMBs and consumers. Kaspersky Lab, with its holding company registered in the United Kingdom, currently operates in almost 200 countries and territories across the globe, providing protection for over 300 million users worldwide. Learn more at http://www.kaspersky.com.

* The company was rated fourth in the IDC rating Worldwide Endpoint Security Revenue by Vendor, 2012. The rating was published in the IDC report “Worldwide Endpoint Security 2013-2017 Forecast and 2012 Vendor Shares (IDC #242618, August 2013). The report ranked software vendors according to earnings from sales of endpoint security solutions in 2012.

Contact Person: Jesmond Chang
+603-7962-5913
pr@kaspersky-sea.com or jesmond.chang@kaspersky.com
Source: Kaspersky Lab

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September 30, 2013 at 3:18 pm

Posted in Uncategorized

Int’l Slow Food Festival to Open Next Week

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NAMYANGJU, South Korea, Sept. 26, 2013 /PRNewswire/ — Next week, South Korea will host an international festival featuring hundreds of different foods from around the world, organizers said Wednesday.

Int'l slow food festival to open next week
Int’l slow food festival to open next week

The 2013 Asio Gusto is set to open in Namyangju, east of Seoul, next Tuesday, with the participation of 40 Asian and Oceanian nations, making it the largest-ever food festival in the region, the organizers said.

The festival is scheduled to run for six days under the theme, “Slow-Food, Changing the World Through Taste.” Its program includes an official opening ceremony, international conferences and workshops, and various special events hosted by local and international pavilions.

Visitors will be able to taste diverse foods from around the world, including gourmet dishes cooked by world-renowned chefs, traditional dishes, and forgotten foods from various cultures.

The conference will kick off on Oct. 2 and run for three days, during which nearly 90 experts from 20 countries will discuss the latest trends and studies on slow food around the world.

The festival will also feature music, dance, cooking contests and various exhibitions and hands-on events, the organizers said.

It is expected to draw some 300,000 visitors, they added.

Source: 2013 Namyangju International Slow Food Conference Committee

Written by asiafreshnews

September 30, 2013 at 2:30 pm

Posted in All releases

Jack Ma and Cathy Zhang Join Breakthrough Prize in Life Sciences Founding Sponsors Bringing the Total Number of Annual $3 million Prizes to Six

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— Online Nominations For 2014 Breakthrough Prizes in Life Sciences Are Open Through October 2, 2013
SAN FRANCISCO /PRNewswire/ — The Breakthrough Prize in Life Sciences Foundation announces that Jack Ma, the prominent Chinese Internet entrepreneur and founder of Alibaba Group, and his wife Cathy Zhang have agreed to join the Breakthrough Prize in Life Sciences Foundation’s founding sponsors (Sergey Brin and Anne Wojcicki, Mark Zuckerberg and Priscilla Chan, and Yuri Milner). This brings the total number of annual prizes to six, $3 million each. All prizes will be awarded for research aimed at curing intractable diseases and extending human life, with special attention to recent discoveries; one prize is aimed specifically at advancements in Parkinson’s disease research. The names of the winners will be announced before the end of year 2013.
(Photo: http://photos.prnewswire.com/prnh/20130926/NY87765 )
In addition to financial support related to the Prizes, the Foundation is pleased to announce that Jack Ma has agreed to serve as a director, joining Art Levinson (Chairman), Mark Zuckerberg, Anne Wojcicki and Yuri Milner.
Online nominations for 2014 Breakthrough Prizes were opened on September 3, 2013 and will be accepted through October 2, 2013. The nomination form and the rules are available at: http://www.breakthroughprizeinlifesciences.org/nominations.
“It is my honor to be able to contribute to innovation in the field of medical research, and I hope that this can one day help make a difference in the lives of many,” said Jack Ma, Executive Chairman of Alibaba Group.
“We couldn’t be more thrilled to welcome Jack Ma to the project. It’s great news for the Prize, and great news for medical science: there are now six 3-million-dollar prizes for trailblazing thinkers who are advancing science and helping to save lives,” said Art Levinson, CEO of Calico and Chairman of Apple Inc., Genentech, Inc., and the Breakthrough Prize in Life Sciences Foundation.
About Jack Ma:
Jack Ma
Executive Chairman, Alibaba Group
Jack Ma is the lead founder of Alibaba Group. After the company’s debut in 1999, he served as chairman and chief executive officer for more than a decade, with responsibility for overall strategy and focus. On May 10, 2013, he stepped down as chief executive officer, but he remains executive chairman and continues to shape Alibaba Group’s business strategy and management development.
Jack, who holds a bachelor’s degree in English from Hangzhou Teacher’s Institute, currently serves on the board of SoftBank Corp., a leading digital information company publicly traded on the Tokyo Stock Exchange. He is also a director of Huayi Brothers Media Corporation, a company listed on The Shenzhen Stock Exchange. In 2009, Jack became a trustee of The Nature Conservancy’s China program, and he joined the global board of directors of the organization in 2010. Since May 11, 2013, he has served as chair of The Nature Conservancy’s China board of directors.
About the Breakthrough Prize Foundation:
The Breakthrough Prize in Life Sciences Foundation is a not-for-profit corporation dedicated to advancing breakthrough research in life sciences, celebrating scientists and generating excitement about the pursuit of science as a career. Additional information about the Foundation and the 2013 recipients of the prizes can be found at http://www.breakthroughprizeinlifesciences.org.
The 2014 prize winners will be selected by the Foundation’s Selection Committee, which comprises prior recipients of the Breakthrough Prize in Life Sciences, including:
Cornelia I. Bargmann
David Botstein
Lewis C. Cantley
Hans Clevers
Napoleone Ferrara
Titia de Lange
Eric S. Lander
Charles L. Sawyers
Bert Vogelstein
Robert A. Weinberg
Shinya Yamanaka
For additional inquiries, contact:
For Breakthrough Prize in Life Sciences Foundation — For Jack Ma
Oliver Phillips John W. Spelich
Brunswick Group Alibaba Group
+1-212-333-3810 +852-9017-7444
ophillips@brunswickgroup.com johnspelich@hk.alibaba-inc.com
+44-7590-976-334
Media@breakthroughprizeinlifesciences.org
Source: Breakthrough Prize in Life Sciences Foundation

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September 30, 2013 at 10:54 am

Posted in Uncategorized

International Law School Deans Adopt Global Principles for a Legal Education

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SINGAPORE /PRNewswire/ — In the largest assemblage of its kind in recent memory, more than 80 law school deans and chairs of law faculties from around the world met in Singapore on September 25th – 27th, 2013 at the Global Law Deans’ Forum to adopt a set of principles of standards and outcomes for a legal education. These global principles grew from two years of regional law deans’ workshops sponsored by the International Association of Law Schools (IALS) which gathered together law school leaders to explore the commonalities and standards to be applied worldwide to legal education.
The need to define these global principles was driven by the rapidly changing face of legal education in the midst of evolving domestic and international norms.
The principles developed will be the foundation upon which the association will continue its engagement with law scholars, judges, the professional community, and other stakeholders in establishing guidelines and suggested practices for a global legal education.
The president of the association, Prof. Francis SL Wang stated, “The principles will serve as the fundamental building blocks for further defining a globalized legal educational initiative which will honor our diversity while connecting all teachers of the law in a shared vision of nurturing the next generation of law graduates.”
In agreement to the above quote, Prof. Barbara Holden-Smith, Vice Dean of Cornell Law School and General-Secretary of the IALS adds, “This addresses the needs and requests of our members to further define the parameters of global legal education.”
The Global Law Deans’ Forum was co-hosted by the National University of Singapore, Faculty of Law led by their Dean, Prof. Simon Chesterman. The principles are available for viewing online at the IALS website, http://www.ialsnet.org.
The International Association of Law Schools is a volunteer, non-profit learned society of more than 170 law schools and faculties representing more than 45 countries. Formed in 2005, it is the primary international representative of the world’s law faculties. For more information, please contact either Martha Delgado at md@wangff.org, Anna Williams at jpw@wangff.org or by phone at +1-707-259-2811.
Source: International Association of Law Schools (IALS)

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September 30, 2013 at 10:44 am

Posted in Uncategorized

Phil Ivey’s Ivey Poker Launches Innovative Social Gaming Experience Designed to Teach the World Winning Poker

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LAS VEGAS/PRNewswire/ — Ivey Poker announced today the official launch of the Ivey Poker App for mobile devices. Created by Phil Ivey – considered by many to be the greatest all-round poker player in the game – the Ivey Poker App is a free-to-play social game designed to deliver a truly authentic poker experience.
To view the Multimedia News Release, please click:
http://www.multivu.com/mnr/63459-phil-ivey-poker-app-launch
“Anyone who knows me knows that I’m one of the most passionate poker players on the planet,” said Phil Ivey, founder of Ivey Poker. “I’m on a mission to grow the global poker audience, and have developed the Ivey Poker App for both entertainment and educational purposes.”
Featuring Ivey’s innovative approach to poker, the Ivey Poker App will both entertain and educate players around the world. To achieve this, the game features Team Ivey – a team of renowned international poker professionals – who not only play an active role in the app, but, along with Phil Ivey, create and produce a vast library of exclusive instructional videos. These videos breakdown the game at different levels to provide a better understanding of both the rules and strategy behind winning poker.
With the Ivey Poker App, Ivey Poker looked to create the perfect combination of a game that is not only fun to play and easy to learn, but one that provides the most interactive features for its users. By giving players the opportunity to enter the high stakes poker world, at no cost to them, they are able to share a piece of the poker lifestyle with the best players in the world, including Patrik Antonius, Greg Merson, Jennifer Harman, Gillian Epp, Andrew Lichtenberger, Dan Smith and more than 25 other prominent professionals in the industry.
Additional key Ivey Poker App features:
Multi-Table – This unique option gives users the ability to play multiple hands at different tables simultaneously.
TV-Style Presentation – To deliver a best-in-class social and gameplay experience, the app features a sleek design and simple interface. Users can select from a wide variety of true-to-life avatars and customize their environment to provide players with an unprecedented social gaming experience.
Social and Mobile Gameplay – Play the app online anytime with friends, or join a tournament to compete against the best. Users can download the application from either Google Play, Apple’s App Store or directly on Facebook.
Community Interaction – Chat in real-time with other players, including the Team Ivey Pros, and send virtual gifts from the Ivey Poker Gift Shop to increase the fun and engage your opponents.
Multiple Languages – The application can be viewed in French, German, Japanese, Italian, Russian, Portuguese, Chinese, Spanish and Hindi.
Ivey concluded, “I remember how difficult it was when I first started playing online poker. There were very few options available. If you did not have a PC, you could not play.”
“That is why we are striving to make Ivey Poker available to everyone.”
For more information, visit Ivey Poker.com.
And visit us on Facebook and Twitter:
Facebook.com/IveyPoker
@IveyPoker
Video: http://www.multivu.com/mnr/63459-phil-ivey-poker-app-launch
Source: Ivey Poker

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September 30, 2013 at 10:13 am

Posted in Uncategorized

Australian Securities Exchange Goes Live with Calypso Technology

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Live on OTC derivatives clearing and cross-margining
SYDNEY /PRNewswire/ — Calypso Technology Inc., the leading integrated capital markets software provider, announced today that the Australian Securities Exchange (ASX) has cleared its first OTC derivatives transaction on its OTC clearing service that uses the Calypso System as the core clearing platform. The ASX OTC Derivatives Clearing Service launched on July 1st, 2013, with client clearing for Australian clients expected to be commercially launched in Q2 2014.
ASX, one of the world’s top 10 listed exchange groups, uses the Calypso solution to support OTC derivatives dealer-to-dealer clearing of standardized Australian Dollar (AUD) denominated interest rate swaps. ASX offers a cross-margining service on Calypso, enabling clearing members to offset initial margin between their interest rate swaps and 24 ASX exchange-traded interest rate futures products positions, thereby reducing the overall portfolio margin requirements. The Australian dealer community has expressed support for this service, as it retains their collateral onshore and facilitates capital efficiency via the clearing of OTC and exchange-traded derivatives together. ASX plans to offer AUD interest rate client clearing by Q2 2014, and is working with foundation customers comprising major Australian asset managers and state government treasuries. (Source: http://www.asxgroup.com.au).
Key factors in the selection of Calypso platform for OTC clearing were Calypso’s market leadership in OTC derivatives clearing software and experience in working with 9 global CCPs. The Calypso system provides end-to-end clearing operations, risk management and connectivity between CCPs and clearing member firms.
Peter Hiom, Deputy CEO of ASX, said, “ASX chose Calypso as a provider with deep experience in OTC derivatives clearing to help deliver the best solution to meet the needs of the Australian marketplace.”
“Calypso is at the forefront of the expansion of OTC clearing platforms around the world”, says Charles Marston, Chairman and CEO, Calypso Technology. “Calypso OTC clearing is a proven, future-proof solution that enables efficient and competitive entry into new markets and clearing of new products. We look forward to continuing our partnership with ASX and delivering the next phase – client clearing in Australia.”
About Calypso Technology, Inc.
Calypso Technology is a premier global capital markets platform provider, serving financial institutions of all types with a full range of integral cross-asset front-to-back office solutions for treasury and derivatives including trading, risk, processing, clearing, collateral, cash management, liquidity, accounting and reporting. The Calypso platform is steadily emerging as a global standard for capital markets businesses and serves as an ideal foundation for innovation and future growth.
Calypso has over 160 clients in over 60 countries – including banks, central banks, sovereign funds, asset managers, insurers, hedge funds, prime brokers, exchanges, clearing houses, processing services and other service providers. Calypso is committed to industry-renowned levels of customer service, research, development and innovation. The company has over 650 employees and 20 offices globally. “Calypso” is a registered trademark of Calypso Technology, Inc. in the United States, the European Union and other jurisdictions. http://www.calypso.com/
About ASX
ASX Group (ASX) is one of the world’s leading exchange groups.
We operate a fully integrated exchange across multiple asset classes — equities, fixed income and derivatives
We service a wide range of retail, institutional and corporate customers, directly and through intermediaries
We offer a broad range of services that allow our customers to invest, trade and manage risk. This includes listings, trading, post-trade services, and technical and information services
We operate infrastructure that supports the systemic stability of Australia’s financial markets and is critical for the efficient functioning of the nation’s economy, economic growth and position in the Asia Pacific region
More information about ASX can be found at http://www.asxgroup.com.au.
Source: Calypso Technology

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September 30, 2013 at 9:43 am

Posted in Uncategorized

Shell Renews Support for Global Cookstove Alliance with $6 Million Donation

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THE HAGUE, the Netherlands/PRNewswire/ — Shell today pledged an additional $6 million to the Global Alliance for Clean Cookstoves, which aims to save lives and protect the environment through the use of improved cookstoves and fuels. This follows $6 million of Shell funding announced in 2010, and the secondment of a Shell employee to the Alliance. Shell is the single largest private-sector contributor to the Alliance.
To view the Multimedia News Release, please click:
http://www.multivu.com/mnr/63456-shell-supports-global-alliance-clean-cookstove
Globally, nearly three billion people still cook food and warm their homes using solid fuels, such as wood or charcoal. It is estimated that daily exposure to smoke from open fires and basic cookstoves contributes to four million premature deaths each year, with women and children most affected. Furthermore, the time spent searching for wood and other fuels takes millions of women and children away from earning a living or attending school, and inefficient cookstoves contribute increased emissions of greenhouse gases and black carbon, or soot, to the atmosphere.
Encouraging the use of specially designed clean cookstoves, which can significantly reduce fuel use, cooking time and emissions, is an internationally recognised solution.
“Nearly half of the world’s population do not have access to modern energy that is safe, reliable and affordable,” said Hugh Mitchell, Chief Human Resources and Corporate Officer, Royal Dutch Shell plc. “Cooperation among business, government and society is essential to addressing such a large-scale challenge.
“The Global Alliance for Clean Cookstoves is a strong example of how collaboration across sectors can help bring modern energy solutions to the developing world. Shell is pleased to continue its support for the Alliance to encourage the widespread adoption of cleaner, more efficient cookstoves and fuels.”
The Alliance is a public-private partnership founded in 2010 by the United Nations Foundation. Shell became a founding partner to make a positive impact on a global energy-related challenge.
The Alliance aims to switch 100 million homes to clean and efficient stoves and fuels by 2020. It targets the market barriers that impede the production, deployment and use of clean cookstoves in developing countries.
Shell’s $6 million donation announced today will be phased, and brings Shell’s total donation to the Alliance to $12 million during the period of 2011-2016.
“From day one, Shell has been a tremendously effective and engaged partner in the Alliance’s efforts to support entrepreneurs and raise awareness about this little known issue,” said Radha Muthiah, Executive Director of the Global Alliance for Clean Cookstoves. “Shell’s renewed commitment to the Alliance, in conjunction with its multifaceted expertise and global reach, will enable us to deepen our in-country market-development activities, and help to spur the adoption of clean cookstoves and fuels at scale.”
Shell’s contribution is targeted to maximise its impact, and so far has been directed towards the development of global standards, regional testing centers and a market assessment toolkit for the cookstoves sector. Market assessments funded by Shell were carried out in Indonesia, Nigeria, South Africa and Timor Leste, and are underway in China. In addition, Shell helped launch “Spark Fund” in 2012, which provides grant capital to scale up enterprises that have the potential to transform the cookstoves sector.
Shell’s support builds on work of Shell Foundation, an independent charity. For more than 10 years, Shell Foundation has been active in developing the clean cookstoves market as a way to deliver social and environmental impact at scale. It works across the value chain to pioneer sustainable ways to supply stoves to homes in Asia, Africa and Latin America, and to tackle market barriers such as affordability, customer awareness and rural distribution. This work has benefited more than four million people. Shell Foundation’s efforts to convene networks of practitioners led to the creation of the Global Alliance for Clean Cookstoves with the UN Foundation in 2010.
Notes to Editors
Access to energy
Globally more than 1.2 billion people are without access to electricity and 2.8 billion people rely on wood or other biomass to cook and heat their homes, according to the World Bank. More than 95% of these people are either in sub-Saharan African or developing Asia, and 80% are in rural areas.
Access to modern energy is widely recognised as a critical enabler of economic and social development. It allows communities to build new roads, hospitals and schools. Families can heat, cool and light their homes, and safely prepare warm meals. Numerous studies have shown that energy access is fundamental to reducing poverty, increasing productivity, enhancing competitiveness, and promoting economic growth.
According to the International Energy Agency, achieving universal access to energy by 2030 could cost the world around $1 trillion in cumulative investment – or about $49 billion per year – which is less than a 5% increase on what is currently invested in energy each year.
Clean cooking solutions
For many in the developing world, cooking food, boiling water and heating or cooling their homes can be fraught with challenges. Women and children can face severe personal risks as they search for fuel, especially near refugee camps and in conflict zones. Daily exposure to the harmful smoke from traditional cookstoves and open fires is said to contribute to four million premature deaths annually with women and young children the most affected, according to the Global Burden of Disease Study 2010. Inefficient cookstoves also contribute to climate change through the emissions of greenhouse gasses and black carbon, or soot. Time spent collecting fuel could be better spent on income generation, education or other activities. Where fuel must be purchased, the cost places a high burden on families struggling to meet their basic needs.
Fortunately, the prospects for success are stronger than ever before. Cleaner, more fuel efficient cookstoves now exist that, if deployed in large numbers, could alleviate pressure on natural resources, reduce environmental impacts, provide health benefits and provide new economic opportunities for women and their families.
Shell and the Global Alliance for Clean Cookstoves
Shell’s core business is providing innovative energy solutions. Energy access is a key theme of Shell’s social investment strategy worldwide. Shell is leveraging its financial contribution to the Alliance by bringing technical and business skills to help the Alliance achieve its goals. Through the secondment of a Shell professional, Shell has provided business expertise to attract financing to the cookstoves sector. The secondee is helping the Alliance attract investors and increasing access to carbon finance for clean cooking enterprises. Shell is also raising awareness across its networks and helping to recruit more public and private partners for the Alliance.
Shell Foundation
Shell Foundation is an independent charity set up by Shell in 2000 to catalyse enterprise-based solutions to tackle global development challenges at scale and in ways that are sustainable. Shell Foundation has pioneered a model that uses business thinking, patient grant funding and extensive business support to address issues such as access to energy, urban mobility and sustainable job creation. It now has several long-term partners that are achieving large-scale impact across Asia, Africa and Latin America.
Royal Dutch Shell plc
Royal Dutch Shell plc is incorporated in England and Wales, has its headquarters in The Hague and is listed on the London, Amsterdam and New York stock exchanges. Shell companies have operations in more than 80 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects. For further information, visit http://www.shell.com
Cautionary Note
The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate entities. In this announcement “Shell”, “Shell Group” and “Royal Dutch Shell” are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies. “Subsidiaries”, “Shell subsidiaries” and “Shell companies” as used in this announcement refer to companies in which Shell either directly or indirectly has control, by having either a majority of the voting rights or the right to exercise a controlling influence. The companies in which Shell has significant influence but not control are referred to as “associated companies” or “associates” and companies in which Shell has joint control are referred to as “jointly controlled entities”. In this announcement, associates and jointly controlled entities are also referred to as “equity-accounted investments”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect (for example, through our 23 per cent shareholding in Woodside Petroleum Ltd.) ownership interest held by Shell in a venture, partnership or company, after exclusion of all third-party interest.
This announcement contains forward looking statements concerning the financial condition, results of operations and businesses of Shell and the Shell Group. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell and the Shell Group to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward looking statements are identified by their use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “goals”, “intend”, “may”, “objectives”, “outlook”, “plan”, “probably”, “project”, “risks”, “seek”, “should”, “target”, “will” and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and the Shell Group and could cause those results to differ materially from those expressed in the forward looking statements included in this announcement, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; and (m) changes in trading conditions. All forward looking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward looking statements. Additional factors that may affect future results are contained in Shell’s 20-F for the year ended 31 December 2012 (available at http://www.shell.com/investor and http://www.sec.gov). These factors also should be considered by the reader. Each forward looking statement speaks only as of the date of this announcement, 26th September 2013. Neither Shell nor any of its subsidiaries nor the Shell Group undertake any obligation to publicly update or revise any forward looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward looking statements contained in this announcement.
ENQUIRIES:
International Media Relations: +44(0)20-7934-5550
USA: +1-713-241-4544
Video: http://www.multivu.com/mnr/63456-shell-supports-global-alliance-clean-cookstove
Source: Royal Dutch Shell plc

Written by asiafreshnews

September 27, 2013 at 4:42 pm

Posted in Uncategorized

OANDA Announces Acquisition of Forex Copy Trading Network

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Currensee Acquisition Reaffirms OANDA’s Commitment to Growth and Market Leadership

SINGAPORE, Sept. 25, 2013 /PRNewswire/ –OANDA, a pioneering global provider of innovative foreign exchange trading services and parent company of OANDA Asia Pacific Pte Ltd., today announced that it has acquired Boston-based Currensee Global Inc., a leader in forex market copy trading within a proprietary social trading network. Together, the integration of the two leading technology platforms from OANDA and Currensee will provide traders with a unique offering.

Copy trading, a method by which traders can mirror the trading behavior of experienced forex investors from around the world, has realized tremendous growth in recent years. In addition, copy trading makes it possible for individual traders to share research data and collaborate with other traders.

“With the acquisition of Currensee’s award-winning copy trading platform, OANDA’s clients will benefit from the collective experience of Currensee’s extensive community of traders,” said K Duker, CEO, OANDA Corporation. “Like OANDA, Currensee has a strong business vision coupled with an expert engineering pedigree. We are committed to continue serving the needs of all Currensee customers, Trade Leaders, and partners and look forward to making OANDA’s competitive spreads and superior execution available to this new group of traders.”

Technical teams are scheduled to begin the work to make the Currensee platform available to OANDA clients and a notice will be issued once this work is completed.

“The Currensee team is excited to join forces with OANDA, a company that shares our commitment to transparency and customer success,” said Dave Lemont, CEO, Currensee. “Our clients and partners will continue to receive best-in-class service from Currensee, and can expect even more as we work closely with OANDA to deliver an even better Trade Leaders Investment Program around the world.”

For more information, please visit: www.oanda.sg, and follow us on TwitterFacebook or YouTube.

About OANDA

OANDA has transformed the business of foreign exchange through an innovative approach to forex trading. The company’s award-winning online trading platform, fxTrade, introduced a number of firsts to the marketplace, including immediate execution; instant settlement on trades; trades of any size between one unit and 10 million units; and interest calculated by the second. OANDA’s powerful, flexible fxTrade platform is also accessible via mobile applications for iPad, iPhone, and Android devices.

In 2012, OANDA was named “Best Forex Provider” by the Financial Times and by Investors Chronicle; “Best FX Broker” by Forex Magnates; and was recognized by Investment Trends Singapore as providing “Best Value for Money” and “Highest Overall Client Satisfaction”. OANDA was also the first online provider of comprehensivecurrency exchange information. Today, the company’s OANDA Rate® data are the benchmark rates for corporations, auditing firms, and global banks.

OANDA has five offices worldwide, in Chicago, London, Singapore, Tokyo, and Toronto. The company is regulated by the U.S. Commodity Futures Trading Commission (CFTC), the U.S. National Futures Association (NFA), the Monetary Authority of Singapore (MAS), the Investment Industry Regulatory Organization of Canada (IIROC), the UK Financial Conduct Authority (FCA), and the Japanese Financial Services Agency (FSA).

About Currensee

The Currensee Trade Leaders™ Investment Program is the industry’s first Forex alternative investment product. Currensee provides investors and financial institutions with the ability to share trade information in a first-of-its-kind, transparent, convenient and trusted way.

Currensee is registered with the Commodity Futures Trading Commission (CFTC) as an Introducing Broker (IB) and is a member of the National Futures Association (NFA) member number 0403251. Currensee is also authorized by the Financial Conduct Authority (FCA), firm reference number 518648, and registered in England and Wales, companies’ house number 07025997.

This information is made available to you by OANDA Asia Pacific Pte Ltd. The information on this material is not directed at residents of the United States, nor is it intended for distribution to, or use by, any person in any jurisdiction, where such distribution or use is contrary to local laws or regulations.

Contacts:

The Hoffman Agency for OANDA Asia Pacific
Jacintha Ng
Direct: +65-6361-0250
OANDASG@hoffman.com
www.hoffman.com

Source: OANDA

Written by asiafreshnews

September 27, 2013 at 4:35 pm