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Archive for April 17th, 2014

MGM Resorts International and Hakkasan Group Announce Formation of Joint Venture Hotel Company MGM Hakkasan Hospitality

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— New Company to Pursue Global Growth in Hospitality Industry

LAS VEGAS, April 15, 2014 /PRNewswire/ — MGM Resorts International (NYSE: MGM) and Hakkasan Group today announced the formation of a joint venture hotel management company, to be named MGM Hakkasan Hospitality. The strategic alliance will focus on the design, development and management of luxury non-gaming hotels, resorts and residential offerings under the Bellagio, Hakkasan, MGM Grand and SKYLOFTS brands in key international gateway cities and prime resort destinations across the globe. All of the hotel and resort projects currently under development by each group will be contributed to the joint venture, including MGM projects in the Americas, the Middle East, and Asia; and Hakkasan projects in Abu Dhabi and Dubai.

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MGM Hakkasan Hospitality marries the strengths of MGM Resorts International and Hakkasan Group. MGM Resorts is a world leader in experiential hospitality and is recognized for designing and operating destination hotels unparalleled in innovation, amenities and quality of service, while Hakkasan Group is a distinguished global lifestyle company offering a unique approach to restaurant, lounge, nightlife and daylife experiences.

“This joint venture exemplifies one of our stated strategies of developing Hakkasan Group into a multifaceted global lifestyle company. While hotel and resort projects have been part of our business plan for some time, it was crucial for us to find the best possible partner that could bring a wealth of experience and skill to the development and operation of branded products, and we believe there is no better choice than MGM Resorts International,” said Khadem Al Qubaisi, Chairman of Hakkasan Group.

Jim Murren, Chairman and CEO of MGM Resorts International, said, “Our partnership with the team at Hakkasan began with the incredibly successful opening of Hakkasan Las Vegas Restaurant and Nightclub at MGM Grand in April 2013. Growing that relationship to form MGM Hakkasan Hospitality provides us both with access to capital as well as the opportunity to join their internationally renowned lifestyle brand with iconic brands such as Bellagio and MGM Grand as we seek to create resort destinations and lifestyle experiences around the globe.”

Each party is contributing brand licenses to the new MGM Hakkasan Hospitality, with a combined portfolio that boasts many of the world’s finest hospitality brands in Bellagio, Hakkasan, MGM Grand and SKYLOFTS. The new joint venture will aggressively pursue gateway cities around the world. Early targets will include such international destinations as New York, Beverly Hills and London. Additionally, Hakkasan Group will focus on placing other high-profile dining and nightlife brands into MGM Hakkasan Hospitality hotel and residential developments in order to maximize value from its portfolio of assets.

Hakkasan Group CEO Neil Moffitt will lead the joint venture, as he becomes CEO of MGM Hakkasan Hospitality, and MGM Hospitality COO Michael Evans will be COO of the newly formed company. The company will operate under a combined board and governance.

Moffitt said, “With existing projects already in the pipeline, a strong operational infrastructure and access to capital resources, MGM Hakkasan Hospitality will have more exposure to greater opportunities, improve the utilization of its resources and be more efficient in its operations.”

For more information, please visit

About MGM Resorts International
MGM Resorts International (NYSE: MGM) is one of the world’s leading global hospitality companies, operating destination resort brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage. The Company also owns 51% of MGM China Holdings Limited, which owns the MGM Macau resort and casino and is in the process of developing a gaming resort in Cotai, and 50% of CityCenter in Las Vegas, which features ARIA Resort & Casino. For more information about MGM Resorts International, visit the Company’s website at

About Hakkasan Group
Founded in London in 2001, Hakkasan Group pioneered modern Cantonese fine dining through its Michelin-starred restaurants Hakkasan Hanway Place, Hakkasan Mayfair, Hakkasan New York, Yauatcha and HKK. It has since expanded its Hakkasan locations globally to Miami, Abu Dhabi, Mumbai, Dubai, Doha, San Francisco, Las Vegas, Beverly Hills and the recent opening of Shanghai in March. Hakkasan Group’s brand portfolio also includes the Japanese fine dining concept Sake no Hana (London and Dubai), and social dining properties Searsucker (San Diego, Del Mar and Austin), Herringbone (San Diego and Los Angeles) and Social House at The Shops at Crystals. It also includes newly acquired nightlife venues such as PURE Nightclub at Caesars Palace, WET REPUBLIC Ultra Pool at MGM Grand, Stingaree Nightclub in San Diego, HQ Beach Club and HQ Nightclub at Revel in Atlantic City. Hakkasan Group is owned by Tasameem Real Estate LLC, an Abu Dhabi-based investment company. For more information, visit
Source: MGM Resorts International
Related stocks: NYSE:MGM

Written by asiafreshnews

April 17, 2014 at 6:29 pm

Posted in Uncategorized

LUXEON Ultraviolet LEDs Available from RS Components Deliver Industry’s Highest Power Density

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Tightly packed micro-footprint LEDs enable construction of high-power UV systems in multiple applications
SINGAPORE, April 17, 2014 /PRNewswire/ — RS Components (RS), the trading brand of Electrocomponents plc (LSE:ECM), the world’s leading high service distributor of electronics and maintenance products, has announced availability of high-power LUXEON ultraviolet (UV) LEDs from Philips Lumileds. Featuring the industry’s smallest footprint of just 2.2 sq. mm, the high-power emitters are one-fifth the size of competing ultraviolet and violet LEDs currently on the market.
The LUXEON UV LEDs can be assembled in tightly packed arrays with spacing of only 0.2mm to enable the construction of high-power-density (W/ sq. cm) UV systems. Offering a maximum drive current of 1A — for more flux per LED — the high-efficiency devices cover the 385 to 410nm spectrum and are undomed for precise optical control. They are ideal for a wide range of applications including ultra-violet curing, counterfeit detection, spectroscopy, medical, security/forensic lighting and speciality lighting, such as aquarium lighting and blacklight for nightclubs.
The LEDs are based on the LUXEON Z surface-mount design, which implements flip-chip assembly and sets the UV die in direct contact with the thermally conductive Aluminium Nitride (AlN) substrate, thereby delivering superior thermal performance. Thermal resistance is as low as 3.5K per Watt.
The LUXEON UV LEDS are available to purchase direct from stock at RS Components for same-day despatch.
About RS Components
RS Components and Allied Electronics are the trading brands of Electrocomponents plc, the world’s leading high service distributor of electronics and maintenance products. With operations in 32 countries, we offer around 550,000 products through the internet, catalogues and at trade counters to over one million customers, shipping around 44,000 parcels a day. Our products, sourced from 2,500 leading suppliers, include electronics, automation and control, test and measurement, electrical and mechanical components.
Electrocomponents is listed on the London Stock Exchange and in the last financial year ended 31 March 2013 had revenues of GBP1.24bn.
For more information, please visit the website at
Further information is available via these links:
@RSElectronics; @alliedelec; @designsparkRS
RS Components on Linkedin
RS Components on Weibo
Relevant Links:
Electrocomponents plc
RS Components
RS Components
Tan Soo Chun
Public Relations Manager – Asia Pacific
Telephone: +65-6391-5745
Edelman Public Relations (Singapore)
Yvette Yeo
Telephone: +65-6347-2355
Source: RS Components
Related stocks: LSE:ECM

Written by asiafreshnews

April 17, 2014 at 5:17 pm

India’s Largest Travel Network Works with CyberSource to Enhance Payment Authentication Process

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– to use CyberSource Decision Manager to automate and streamline fraud management operations
BANGALORE, India, April 16, 2014 /PRNewswire/ — CyberSource, a Visa Inc. company (NYSE: V), and one of the world’s largest providers of eCommerce payment management services, today announced a collaboration with, formerly known as Flight Raja Travels, India’s largest travel network. CyberSource will help extend its global customer reach while providing safe and secure payment services., a well-known brand name in the travel industry, currently serves more than 40 million customers worldwide and has more than 40,000 travel partners in Brazil, India, Indonesia, the Philippines and Singapore. Through this collaboration, will leverage CyberSource Decision Manager to enhance its payment authentication process for card payments, enabling’s customers to have a better payment experience, thereby building customer loyalty.
Online travel agencies are growing in importance and are experiencing fast growth globally, especially those from emerging markets such as China and India. It was also found that over the past five years, online travel agency (OTA) websites were responsible for one-third, or US$21.3 billion, of all online hotel bookings[1]. This is a reflection of the importance of OTAs in the travel distribution and reservation chain. With increasing pressure on margins, companies that implement streamlined fraud management practices can enable a higher number of successful transactions and thus improve their customers’ payment experience.
“Via has more than 40,000 partners across this region and we recently launched our business in Hong Kong, Malaysia, Myanmar, Thailand and Vietnam. As we continue to scale up our business in diverse geographic locations, enhancing the payment authentication process for our merchants and customers becomes a priority due to our multi-jurisdictional presence. We are excited to embark on this collaboration with CyberSource, due to its international and market leading presence in providing fraud management,” said V. Swaminathan, Chief Executive Officer, views online fraud management as one of its top business priorities. With CyberSource Decision Manager, will be able to pinpoint fraud faster, more accurately and with less manual intervention. This is achieved by screening inbound orders against data and correlations from more than 60 billion transactions processed by Visa and CyberSource annually. The transaction data is supplemented by 260 validation and correlation tests, which enable the solution to effectively expand the depth and breadth of fraud-pattern visibility.
“CyberSource recognizes fraud management as one of the key requisites for successful travel agents worldwide. We are delighted to work with to help it achieve its business targets. By implementing Decision Manager, we hope to help significantly reduce chargeback disputes arising out of suspicious transactions, ultimately improving the transaction experience for both its agents and customers,” said Michael Bradley, Managing Director, Asia Pacific, CyberSource.
[1] Hotel News Resource, Online Travel Agencies (OTA): Friend or Foe?, December 10, 2013
About CyberSource
CyberSource, a wholly-owned subsidiary of Visa Inc., is a payment management company. Over 400,000 businesses worldwide use CyberSource and Authorize.Net brand solutions to process online payments, streamline fraud management, and simplify payment security. The company is headquartered in Foster City, California and maintains offices throughout the world, with regional headquarters in Singapore, Tokyo, Miami / Sao Paulo and Reading, U.K. CyberSource operates in Europe under agreement with Visa Europe. For more information, please visit
Via is the largest travel network, with presence in over 1,200 cities in India and globally. Over the last six years, Via has silently revolutionized the travel domain globally and brought in value-added changes that benefit the customer and the business channels. Via has an annual turnover of US$500 million. Via’s business partners and its network are the heart of its business. Via is committed to consistently innovate, improve and deliver the highest possible standard of business partnership so as to provide a profitable return on investment and growth in market share.
Source: CyberSource
Related stocks: NYSE:V

Written by asiafreshnews

April 17, 2014 at 12:18 pm

A new roadmap: Equinox Blueprint provides vision for 21st century education

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— Equinox Blueprint urges focus on high school as UN Millennium Development Goals reach deadline

OXFORD, England, April 16, 2014 /PRNewswire/ — Across the globe there is a growing recognition that 2014 is a watershed year for change in education. To address this need for change, Equinox Blueprint: Learning 2030 – a vision for redesigning high school developed by education innovators from six continents – was released today at the World Literacy Summit. It brings together the latest research, knowledge and experience in global approaches to education with a specific focus on rebooting high school for the needs of the 21st century.

“We need the kind of change that can work anywhere for anyone, regardless of their resources,” said Dr. Michael Brooks, curator of Equinox Summit: Learning 2030 at which the Blueprint was developed. “It doesn’t matter who saw this path first, the point is, in 2014, we can finally embark on it together. We can impact the well-being of a generation with changes that are well-defined, affordable, and implementable. But we need to begin this work now.”

Susan Opok, Managing Director of the Ugandan operations of the WISE-Award winning Promoting Equality in African Schools (PEAS) and Blueprint contributor said, “In Uganda, over 90% of children are now enrolled in primary education. For countries that have broadened their education programs to achieve the UN’s Millennium Development Goal of Universal Primary Education, we must turn our focus to secondary education or we will lose the gains we’ve made and undermine our efforts to eliminate poverty.”

The heart of the Blueprint is a student-centred vision, encoded in a Charter of Learner’s Rights. This is no surprise considering that 50% of the Blueprint contributors are aged 18 to 30. They include American education activist Nikhil Goyal, Thiel Fellows Chris Olah and Noor Siddiqui, and Sam Levin, founder of the Independent Project.

“Four years ago, as high school student, I designed an alternative school – the Independent Project. It is run by students, and operates as a school-within-a-school,” said Levin. “I saw kids about to drop out not only finish high school, but become passionate about their education. I have seen first-hand the type of engagement that is possible in the learning environment proposed in the Learning 2030 Blueprint.”

The Blueprint focuses on seven goals, each of which is further supported with case studies and research:
•Developing lifelong learners with a clear sense of self
•Cross-disciplinary and collaborative projects that connect students with their interests and community
•Fluid groupings of students dictated by of-the-moment academic and social needs
•Teachers who co-create and curate the learning of their colleagues and students
•Ongoing, iterative assessment of learning
•Learners, teachers, caregivers and government all at the decision making table
•Risk taking students and teachers who are empowered to experiment with their education

In order to ‘unfreeze’ these priorities, students from the Master of Digital Experience Innovation program at the University of Waterloo designed an interactive website, On this platform, education communities around the world can share their stories and plans for change, discuss common issues, and support one another in the ongoing process of transforming high school education.

The Blueprint can be downloaded at

About the Waterloo Global Science Initiative
Founded in 2009, Waterloo Global Science Initiative (WGSI) is a non-profit partnership between Perimeter Institute for Theoretical Physics and the University of Waterloo, a pairing that has previously resulted in the distinguished Perimeter Scholars International program and the University of Waterloo’s pioneering Institute for Quantum Computing. WGSI’s mandate is to promote dialogue around complex global issues and to catalyze the long-range thinking necessary to advance ideas, opportunities and strategies for a secure and sustainable future. The organization’s core activities include the Equinox Summit Series, Equinox Blueprints, Equinox Fellowship for young leaders, and a range of impact activities programmed around each summit topic and its outcomes. For more information visit

Image with caption: “Education innovators working to develop Equinox Blueprint: Learning 2030. (CNW Group/Waterloo Global Science Initiative (WGSI))”. Image available at:

Image with caption: “Education innovators working to develop Equinox Blueprint: Learning 2030. (CNW Group/Waterloo Global Science Initiative (WGSI))”. Image available at:

For further information:

Hayley Rutherford
Content & Programming Coordinator
Waterloo Global Science Initiative
T 011 44 07502600288

North America
Eamon O’Flynn
External Relations Specialist
Perimeter Institute for Theoretical Physics
T +1 (519) 569-7600 ext. 5071

Source: Waterloo Global Science Initiative (WGSI)

Related stocks: NASDAQ-NMS:ELOS

Written by asiafreshnews

April 17, 2014 at 11:12 am

Posted in Business & Finance

The International Federation of University Women (IFUW) Urges Governments to Ensure that Secondary School Girl Students have Access to both Digital and Paper Books on the Occasion of World Book Day on 23 April 2014

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GENEVA, April 14, 2014 /PRNewswire/ — On the occasion of World Book Day, the International Federation of University Women (IFUW) urges governments to legislate for cheap, extensive internet and mobile access to ensure that secondary school girls in particular have easy and regular access to both paper and digital books.
To build resilient communities and sustainable economies, girls must have the opportunity to complete secondary, tertiary, continuing and non-traditional education. Access to paper and digital books is a stronger predictor of children’s educational attainment than parents’ occupation, social class or income.[1]
“There is limited learning without books and limited economic development without learning.” said IFUW President Catherine Bell. “Digital books, or e-books, can offer improved access to education for all secondary school age girls, including marginalised girls such as those living in remote and rural areas, those without transport to school, those without safe access to education and those who are disabled.”
The International Federation of University Women (IFUW) is based in Geneva, Switzerland. Founded in 1919, IFUW is the leading girls’ and women’s global organisation advocating for women’s rights, equality and empowerment through access to quality education and training up to the highest levels.
IFUW is in special consultative status with ECOSOC and is an NGO maintaining official relations with UNESCO. Follow us on Facebook, LinkedIn and Twitter (@IFUWomen)
1. “Family scholarly culture and educational success: Books and schooling in 27 nations [ ]”, M.D.R. Evans [ ] et al, Science Direct, Volume 28, Issue 2 [ ], June 2010, Pages 171-197
Source: International Federation of University Women

Written by asiafreshnews

April 17, 2014 at 9:12 am

Posted in All releases