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Archive for August 29th, 2016

RMB Continues to Penetrate the South African Market

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-SWIFT’s RMB Tracker shows that RMB usage across South Africa has more than doubled in volumes over the past two years

HONG KONG /PRNewswire/ — SWIFT data shows that Renminbi (RMB) usage in payments in South Africa increased by 65% over the last 12 months and by 112% in the last two years, moving the country from position #30 in July 2014, to #24 in July 2016. Excluding domestic traffic, RMB payment messages increased in volume by 70% in the last 12 months. In addition, nearly 40% of RMB payments by South African institutions have been offshore payments exchanged with countries other than mainland China and Hong Kong, compared to 16% in July 2015.

RMB continues to penetrate South African markets
RMB continues to penetrate South African markets

RMB’s share as an international payments currency
RMB’s share as an international payments currency

“South Africa has experienced a major shift in RMB growth over the last two years, strengthening the country’s trade relations with mainland China and Hong Kong,” says Harry Newman, Head of Banking, SWIFT. “The establishment of an RMB clearing centre in South Africa in July 2015, as well as Singapore’s increased use of the RMB for payments with South Africa, have been a catalyst for RMB growth in the region.”

During the Forum on China-Africa Cooperation, held in Johannesburg in December 2015, China and representatives from 50 African countries agreed to actively implement a Memorandum of Understanding (MoU) on the Promotion of China-Africa Cooperation in the area of infrastructure (fields of railway, highway, regional aviation networks and industrialisation). They will give priority to encourage Chinese businesses and financial institutions to expand investment through various means, such as Public-Private Partnerships (PPP)[1]. This MoU will increase the commercial exchanges between China and the African continent and should positively impact RMB volumes in the future.

In July 2016, the RMB bounced back to its position as the fifth most active currency for global payments by value with a share of 1.90%, a slight increase from 1.72% in June 2016. Overall RMB payments value decreased by 0.68% compared to June 2016, whilst in general all payments currencies decreased by 10.08%.

[1] Source: Ministry of Foreign Affairs of the People’s Republic of China

About SWIFT and RMB Internationalisation
Since 2010, SWIFT has actively supported its customers and the financial industry regarding RMB internationalisation through various publications and reports. Through its Business Intelligence Solutions team, SWIFT publishes key adoption statistics in the RMB Tracker, insights on the implications of RMB internationalisation, perspectives on RMB clearing and offshore clearing guidelines, supports bank’s commercial RMB product launches and provides in-depth analysis and business intelligence, as well as engaging with offshore clearing centres and the Chinese financial community to support the further internationalisation of the RMB.

The SWIFT network fully supports global RMB transactions, and its messaging services enable Chinese character transportation via Chinese Commercial Code (CCC) in FIN or via Chinese characters in MX (ISO 20022 messages). It offers a suite of dedicated RMB business intelligence products and services to support financial institutions and corporates. In addition, SWIFT collaborates with the community to publish the Offshore and Cross-Border RMB Best Practice Guidelines, which facilitate standardised RMB back office operations.

Please click here for more information about RMB Internationalisation or join our new ‘Business Intelligence Transaction Banking’ LinkedIn group.

About SWIFT India
SWIFT India Domestic Services Pvt Ltd (“SWIFT India”) is a joint venture created by SWIFT SCRL (Society for Worldwide Interbank Financial Telecommunication), the global banking cooperative, and (in alphabetical order) Axis Bank, Bank of Baroda, Bank of India, Canara Bank, HDFC Bank, ICICI Bank, Punjab National Bank, State Bank of India and Union Bank of India, to address domestic market needs of the Indian financial services industry. Based on proven SWIFT technology, the company provides messaging services to domestic market infrastructures, banks and corporates, enabling the financial community to exchange automated, standardised financial information securely and reliably, thereby reducing costs and risks, improving compliance and services to its customers.

For more information, please refer to our website

SWIFT is a global member-owned cooperative and the world’s leading provider of secure financial messaging services.

We provide our community with a platform for messaging and standards for communicating, and we offer products and services to facilitate access and integration, identification, analysis and financial crime compliance.

Our messaging platform, products and services connect more than 11,000 banking and securities organisations, market infrastructures and corporate customers in more than 200 countries and territories, enabling them to communicate securely and exchange standardised financial messages in a reliable way. As their trusted provider, we facilitate global and local financial flows, support trade and commerce all around the world; we relentlessly pursue operational excellence and continually seek ways to lower costs, reduce risks and eliminate operational inefficiencies.

Headquartered in Belgium, SWIFT’s international governance and oversight reinforces the neutral, global character of its cooperative structure. SWIFT’s global office network ensures an active presence in all the major financial centres.

For more information, visit or follow us on Twitter: @swiftcommunity and LinkedIn: SWIFT

+44 (0)20-7426-9400

SWIFT does not guarantee the fitness for purpose, completeness, or accuracy of the RMB Tracker, and reserves the right to rectify past RMB Tracker data. SWIFT provides the RMB Tracker on an ‘as is’ basis, and for information purposes only. As a mere informative publication, the RMB Tracker is not meant to provide any recommendation or advice. Any person consulting the RMB Tracker remains solely and fully responsible for all decisions based, in full or in part, on RMB Tracker data. SWIFT disclaims all liability regarding a person’s use of the RMB Tracker. The RMB Tracker is a SWIFT publication. SWIFT © 2016. All rights reserved.

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Source: S.W.I.F.T.SCRL
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August 29, 2016 at 5:54 pm

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Contact North | Contact Nord Launches

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-Official Portal of the World Conference on Online Learning
-Toronto, Canada – October 2017
THUNDER BAY, Ontario /PRNewswire/ — Contact North | Contact Nord, the organizer and host of the 27thInternational Council for Open and Distance Education (ICDE) World Conference, launches the official portal for the World Conference on Online Learning: Teaching in a Digital Age – Re-Thinking Teaching & Learning to be held in Toronto, Canada from October 17-19, 2017.

The theme of the World Conference on Online Learning is Teaching in the Digital Age – Re-Thinking Teaching & Learning with the program focused on five tracks:

1. Emerging Pedagogies and Designs for Online Learning
2. Expanding Access, Openness and Flexibility
3. Changing Models of Assessment
4. New Delivery Tools and Resources for Learning
5. Re-Designing Institutional Business Models

Visit the bilingual portal – and – for information including:

Details on the theme and tracks
Important Dates
Information on our host city, Toronto, Canada
Sign-up for our e-newsletter
“Contact North | Contact Nord is honoured to be the organizer and host of the World Conference on Online Learning: Teaching in a Digital Age – Re-Thinking Teaching & Learning,” stated Paul Taillefer, Chair, Board of Directors, Contact North | Contact Nord. “The hosting of this world conference in Ontario recognizes the global leadership of the province of Ontario in the field of online, open and flexible learning. Ontario’s online learning sector includes 24 public colleges, 22 public universities and 12 leading online learning networks and providers, including e-Campus Ontario, OntarioLearn, Independent Learning Centre, ACE Distance, Deaf Learn Now, F@D le service de formation à distance pour adultes de l’Ontario, Good Learning Anywhere, The LearningHUB, e-Channel, Consortium d’apprentissage virtuel de langue française de l’Ontario (CAVLFO), Coalition ontarienne de formation des adultes (COFA), Contact North I Contact Nord.”

“We look forward to welcoming 2,000 delegates from around the world to Toronto to expand boundaries and explore new frontiers of teaching, learning and skills development during this three-day World Conference on Online Learning,” noted Maxim Jean-Louis, President – Chief Executive Officer, Contact North | Contact Nord and Chair of the Organizing Committee for the World Conference on Online Learning. “Our goal is to engage the world’s higher education community with a stimulating program on how we re-think teaching and learning in a digital age. The conference will feature 300 plenaries, practical workshops, interactive panels, hand-on demonstrations, academic paper presentations, next generation innovation, new educational technologies, latest online learning platforms, software and solutions.”

The World Conference on Online Learning takes place at the Sheraton Toronto Centre Hotel from October 17 – 19, 2017. Visit the conference portal regularly for the latest information.

The 26th ICDE World Conference was organized and hosted by the University of South Africa in October 2015.

About Contact North | Contact Nord

Contact North | Contact Nord is Ontario’s distance education and training network serving more than 600 small, rural, remote, Indigenous and Francophone communities across the province through its 112 local online learning centres.

Contact North I Contact Nord partners with Ontario’s 24 public colleges, 22 public universities, over 250 public literacy and essential skills and training providers and the government of Ontario to provide local access to education and training opportunities.

Its three portals provide an online learning virtual hub to Ontario students, prospective students, faculty and instructors averaging more than 500,000 unique visits a year:, and e-Channel.

Since it was established in 1986, Contact North ǀ Contact Nord has generated and supported more than 466,000 registrations.

Contact North | Contact Nord is a not-for-profit corporation headquartered in Thunder Bay, Ontario, and is funded by the Government of Ontario.


About the International Council for Open and Distance Education (ICDE)

The International Council for Open and Distance Education (ICDE) is the leading global membership organization for open, distance, flexible and online education, including e-learning, and draws its membership from institutions, educational authorities, commercial actors, and individuals.

ICDE has consultative partner status with UNESCO and shares UNESCO’s key value – the universal right to education for all. ICDE further derives its position from the unique knowledge and experience of its members throughout the world in the development and use of new methodologies and emerging technologies.

ICDE was founded in 1938 in Canada as the International Council for Correspondence Education and today has members from over 60 countries worldwide.

ICDE’s Permanent Secretariat is in Oslo, Norway, and has been hosted by this country on a permanent basis since 1988. ICDE is supported by the Norwegian Ministry of Education and Research and by membership fees.

About ICDE

Enabling change to technology enhanced quality education across the globe.
Advocating for access, equity and quality learning through online, open and flexible learning.
A dynamic platform for cooperation on innovation and development, featuring key regional actors and leading experts.
Access to thousands of higher education institutions, networks and systems.
A key partner for UNESCO.
Part-funded by the Government of Norway.

For further information: Heather Campbell, Communications Coordinator, 1-855-345-5035,

Source: Contact North
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August 29, 2016 at 4:05 pm

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Pivotal Study Results Published in New England Journal of Medicine (NEJM) Confirm Safety and Efficacy of INSIGHTEC’s Exablate Neuro System for the Treatment of Essential Tremor

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-Non-invasive and Safe Procedure Allows Patients to Quickly Return to Normal Activity
HAIFA, Israel /PRNewswire/ — INSIGHTEC, the leader in MR-guided Focused Ultrasound (MRgFUS) therapy, today announced that the New England Journal of Medicine (NEJM) has published the results of a pivotal study of their Exablate Neuro system for the non-invasive treatment of essential tremor (ET). The study met its primary endpoint with patients treated with Exablate Neuro demonstrating a clinically significant 47% improvement in a composite tremor score at three months as compared to no change in the sham cohort.

The NEJM article presents findings from an FDA study designed to evaluate the safety and efficacy of Exablate Neuro for the treatment of essential tremor in subjects for whom medications were not effective. Results of this randomized, double-blind, multi-center clinical study were submitted as the key data resulting in FDA approval of INSIGHTEC’s Exablate Neuro as the first focused ultrasound device to treat essential tremor.

“MRI imaging and thermometry provide a high level of control during focused ultrasound thalamotomy. Importantly, before treatment, adjustments can be made based on intraoperative imaging and clinical feedback from the patient, contributing to a safe procedure,” said Dr. W. Jeffrey Elias, Director of Stereotactic and Functional Neurosurgery at the University of Virginia and primary author of the NEJM paper.

Seventy-six patients were enrolled in the study and randomly assigned to receive the Exablate treatment (56 patients) or the sham procedure (20 patients), the exact same procedure but without transmission of ultrasound energy. Patients in the placebo treatment arm were later allowed to undergo an Exablate Neuro treatment.

“The robust study findings showed that focused ultrasound safely improved hand tremor in patients with refractory tremor by precisely targeting and ablating deep brain tissue without surgical incisions, thus minimizing risk of infection, bleeding or other complications sometimes seen in surgical operations,” said Dr. William G. Ondo, Tremor Research Group President.

The primary endpoint combined the Clinical Rating Scale for Tremor (CRST) Part-A and Part-B, an 8-element measure of tremor and hand function. For the Exablate Neuro treatment group, a mean score of 18.1±4.8 at baseline was reduced to 9.6±5.1 at 3 months (47% change), while the sham group showed no change, demonstrating a highly statistically significant (p<0.001) difference between groups.

Patients in the treatment group showed a 63.4% reduction in tremor amplitude alone (CRST A) which was maintained at one year follow up. Additionally, the total disability score (CRST part C) improved by 68% and patient assessment of their quality of life (QUEST) improved by 51% overall at 12 months for treated patients.

Most adverse events were transient, minimal or unrelated to the Exablate Neuro procedure.

"We are pleased with the results of this pivotal study that addresses a major issue for the five million Americans and millions more worldwide that suffer from this debilitating disease," said Maurice R. Ferré MD, INSIGHTEC Chief Executive Officer and Chairman of the Board. "With this positive data and the subsequent FDA approval of the Exablate Neuro system, patients can be treated and return to performing everyday tasks with greater ease and enjoy a better quality of life."

The sites participating in the clinical study included: University of Virginia, Stanford University Medical Center, University of Maryland, Brigham and Women's Hospital, Swedish Medical Center, Yonsei University Medical Center (South Korea), Sunnybrook Health Sciences Centre (Canada) and Tokyo Women's Medical University (Japan).

Funding for the study was provided by the Focused Ultrasound Foundation and BIRD (US-Israel Binational Industry R&D) and INSIGHTEC.

Exablate Neuro has now received FDA, Health Canada and Korean approval for essential tremor and CE mark in Europe for essential tremor, tremor dominant Parkinson's disease and neuropathic pain.

About Exablate Neuro

Exablate Neuro uses high intensity focused ultrasound waves to ablate targeted tissue through an intact skull with no incisions. During planning and treatment, the patient is fully conscious lying on the treatment bed in an MRI scanner. MRI provides high resolution visualization, patient-specific treatment planning and continuous real-time monitoring of the procedure. Focused ultrasound technology has been successfully used to treat other clinical indications including uterine fibroids and painful bone metastases.

For US treatment centers, please visit our website –


INSIGHTEC is a world leader in MR-guided Focused Ultrasound (MRgFUS). The company's non-invasive therapy platform, Exablate, is transforming treatment for various indications in neurosurgery, oncology and women's health. During MRgFUS treatment, focused ultrasound waves ablate the target tissue, while MRI provides image-guidance and thermal monitoring. A growing number of renowned physicians are realizing the clinical value of MRgFUS in more than 120 leading medical facilities around the world. For more information please visit:

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August 29, 2016 at 4:00 pm

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Young Living Essential Oils Celebrates Northern Lights Farm

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— After breaking ground in 2014, Young Living’s Northern Lights Farm in Fort Nelson, British Columbia, is officially open to the public –
LEHI, Utah /PRNewswire/ — Young Living Essential Oils, the world leader in essential oils, announced the grand opening of its Northern Lights Farm in Fort Nelson, British Columbia. In conjunction with its Canadian convention, Young Living held its first Farm Day at Northern Lights, welcoming members from both Young Living and the surrounding community to attend a celebration and tour the farm.

“I am proud to officially open the gates and invite visitors to experience our Seed to Seal® process firsthand at our Northern Lights farm,” said D. Gary Young, Founder and Chairman of the Board of Young Living. “As one of my greatest passions and achievements, I’m honored to share Northern Lights with our members and the local community, who have supported this endeavor from day one.”

The beautiful Fort Nelson location offers rich soil and plentiful water resources and is abundant with black spruce trees, from which the fragrant Northern Lights Black Spruce essential oil is produced, a key ingredient in some of the popular Young Living essential oil blends such as Valor II™, Peace & Calming II™, and Shutran™.

Today, Young Living celebrates the farm’s official grand opening and welcomes visitors, after two years of ambitious efforts to build out the farm and distillery. In addition to a state-of-the-art distillery, the farm houses a conference and education center, with future plans to add a visitor center, spa, and lodge. Last year, the farm produced 6,300 liters of Northern Lights Black Spruce essential oil.

“It is an exciting moment for Gary to share his vision of Fort Nelson with all of the visitors attending the Grand Opening,” said Mary Young, Young Living Chief Executive Officer. “Members are watching the Seed to Seal process in awe here in the beautiful Canadian Rockies.”

For more information about the Northern Lights Farm or any of Young Living’s farms around the world, visit .

About Young Living Essential Oils

Young Living Essential Oils, LC, is the world leader in essential oils, with a strict Seed to Seal® process to produce pure essential oil products for every individual, family, and lifestyle. This process ensures that all products are genuine, free of synthetic chemicals, and pure. This commitment stems from the company’s 20 years of stewardship toward the earth and its people. For more information, visit

Media Contact:
Jamie Kaneko
Sr. Public Relations Manager

Source: Young Living Essential Oils, LC
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August 29, 2016 at 3:39 pm

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New Managers at Borgward: New Director of the Marketing Team

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STUTTGART, Germany /PRNewswire/ —

Tomas Caetano, Executive Director Global Brand & Marketing

Brand expert Tomas Caetano will become the Executive Director Global Brand & Marketing this month. In this position, he will assist the Borgward marketing team headed by Tom Anliker. Caetano has a degree in business administration and extensive experience in the international marketing business. In recent years he has managed a number of successful projects, including the global brand relaunch of a Swedish automaker. Caetano has conducted successful product and brand communication activities for German and Japanese vehicle manufacturers, and he will also be able to draw on his many years of experience in management positions at leading European advertising agencies.

(Photo: )

Caetano considers Borgward’s prospects on the European market to be especially promising and appealing. “I’m fascinated by this unique opportunity to firmly reestablish a time-honored but unknown brand in the European automotive sector,” he says. “Because there’s no blueprint for this project, we will leave the beaten path and use fresh creative ideas to showcase the Borgward brand in line with its typical DNA as an innovative and visionary premium manufacturer.”

Further information
Borgward Group AG
Kriegsbergstrasse 11
70174 Stuttgart, Germany
Marco Dalan
Head of Global Communications
Telephone: +49-711-365-10-1041

Source: BORGWARD Group AG
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August 29, 2016 at 3:22 pm

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Two Hublot Ambassadors Make History With Golden Records at the Olympic Games in Rio

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NYON, Switzerland /PRNewswire/ —


Multiple record-holder Usain Bolt entered the sports hall of fame with an illustrious performance in Rio. Three new gold medals; the first ever triple treble. Justin Rose recorded the first hole in one in the history of Olympic golf, and also took gold in golf’s first return to the Games since 1904. Both exceptional feats that will carve the names of these two athletes, Hublot and Rio in history. Hublot is immensely proud of its ambassadors and would like to congratulate them on their performances worthy of a real Big Bang.

(Photo: )
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“Usain and Justin have written a new page of sporting history. They are the kind of achievements that the rest of the world can only dream of and be inspired by. The whole planet is in awe of their efforts. We are extremely proud to have them in the Hublot family!”

Ricardo Guadalupe, CEO Hublot

Usain Bolt
The first triple treble in history

The fastest man in the world confirmed his unrivalled status by pulling off a performance that won him his third triple Olympic gold. Following on from Beijing in 2008 and London in 2012, Bolt attained the much sought-after and exclusive triple treble – three gold medals in 100 m, 200 m and 4×100 m at three consecutive Olympiads.

The Big Bang Unico Usain Bolt is crowned in gold. Released in two limited editions – a 45 mm case cut from 3N yellow gold or black ceramic – the seconds of its chronograph flyback count the time under the impulse of a hand shaped like a lightning. The design features touches of green and gold, and a silhouette of the Jamaican flag adorns the strap. A lightning bolt silhouette is emblazoned across the sapphire case-back that covers the in-house UNICO movement. A symbol of victory to sport on the wrist.

Justin Rose
First Olympic hole in one and Olympic golf champion

Aged 36, the British talent Justin Rose will now always be associated to the Olympic Games. During the qualifying round, he scored the first hole in one of the Olympic Games. On a par 3 hole, a shot of 172 metres that wrote him into the history books. A Hublot ambassador since 2015, Justin Rose is one of the world’s top 10 players. A brilliant track record now crowned with an Olympic gold.

International Press Relations: Annabelle Galley, , T: +41(0)22-990-9000

Source: HUBLOT

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August 29, 2016 at 2:59 pm

Posted in Uncategorized

Invitation to the VDA’s Pre-IAA Live Web Press Conference on September 2, 2016

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BERLIN /PRNewswire/ —

The International Motor Show (IAA) Commercial Vehicles in Hannover is the world’s most important trade show for transport, logistics and mobility. Already a large number of journalists from more than 40 countries have been accredited. Before the IAA opens its doors on September 22, 2016, we would like to inform you about the current status of the preparations and also the most important exhibition trends. To this end, the German Association of the Automotive Industry (VDA), as the organizer of the IAA, will hold its pre-IAA press conference in the form of a live web conference, and you are cordially invited to take part.

This will be an online press conference that is streamed live around the world. So it is not an event that you can attend in person.

The IAA live web press conference with VDA President Matthias Wissmann will take place on Friday, September 2, 2016, at 2.00 p.m. (CEST/ German local time).

Once the conference is underway, you will have an opportunity to ask questions that Mr. Wissmann will answer following his introductory statement by entering them in writing via a text field. If you wish to submit questions in advance to be answered at the live web press conference, please send it to Ms. Ute Botterschulte (e-mail:

You will need Internet access and an up-to-date internet browser to participate in the live web conference. You must also register in advance on the following website:

The online press conference will be held in English only. After the conference, a recording of the web press conference will be made available on the IAA website.


Eckehart Rotter
VDA – Press Department
Tel.: +49-30-897842-120

Source: German Association of the Automotive Industry (VDA)

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August 29, 2016 at 2:48 pm

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Apptio, Inc. Files Registration Statement With SEC For An Initial Public Offering

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BELLEVUE, Washington /PRNewswire/ — Apptio, Inc., the leading provider of cloud-based Technology Business Management (TBM) software, today announced that it has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering of its Class A common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined.

Goldman, Sachs & Co., J.P. Morgan Securities LLC and BofA Merrill Lynch will act as joint lead bookrunners for the offering, while Barclays Capital Inc., Jefferies LLC, RBC Capital Markets, LLC and Pacific Crest Securities, a division of KeyBanc Capital Markets Inc., will act as bookrunners.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the offering may be obtained, when available, from Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or by e-mail at; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204; and BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department, or by email at

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Source: Apptio, Inc.
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August 29, 2016 at 2:26 pm

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FAA Approves AerSafe(TM) To Comply With Fuel Tank Flammability Reduction Rule For Boeing 737 Classic Series Aircraft

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CORAL GABLES, Florida /PRNewswire/ — The Federal Aviation Administration (FAA) has issued a Supplemental Type Certificate (STC) for installation of AerSale®’s new AerSafe™ system on the Boeing 737 Classic series aircraft (ST03589NY) in compliance with the Fuel Tank Flammability Reduction (FTFR). This new STC is in addition to the STC for the Boeing 737 NG series, approved by the FAA earlier this year (ST02980NY).

“AerSafe is one of the few FAA-approved options that complies with the FTFR rule, and at approximately one quarter of the cost of the nitrogen inerting system over the course of 10 years, it provides air carriers an effective low-maintenance solution,” said Nicolas Finazzo, Chief Executive Officer at AerSale. “We hired some of the best aeronautical engineers in the business to develop this product, which has been a work in progress for over a year. We intend to expand further the application of AerSafe to include Boeing 757 and 767 series aircraft in the coming months.”

Tested and developed to exact tolerances to fill the cavity of the Boeing 737 NG and Classic series center fuel tanks, AerSafe limits the amount of available oxygen that can ignite fuel vapors and prevents sparks from igniting an explosion. AerSafe comes as a complete prefabricated kit that can be installed at any hangar around the world. After initial installation, the system requires no maintenance or expensive spare parts. Lead time for ordering AerSafe is currently 60 days versus the one-year lead time for the nitrogen inerting system.

The FAA enacted the FTFR rule after the crash of TWA flight 800 off the coast of New York. Federal investigations revealed that the accident was the result of an explosion caused by a spark igniting fumes in the center fuel tank of the Boeing 747. The FTFR rule requires fuel tank ignition sources and flammability exposure to be reduced in aircraft most at risk. The FAA gave two options: a flammability reduction means such as nitrogen inerting, or an ignition mitigation means such as AerSafe. These systems must be installed by December 26, 2017, on all passenger aircraft that have high flammability fuel tanks and fly within or into the United States.

AerSafe is a trademark of AerSale, Inc. A global aviation leader, AerSale supplies aftermarket commercial aircraft, engines, and OEM used serviceable material to passenger and cargo airlines, leasing organizations, government entities, multinational OEMs, and independent MROs. AerSale also offers asset management services to owners of end-of-life aircraft and engine portfolios. Headquartered in Coral Gables, Florida, AerSale maintains offices and operations in the United States, Europe, and Asia.

For more information, visit our website at or contact AerSale Media Relations by calling (305) 764-3200 or via e-mail at

Follow us on:
LinkedIn | Twitter | Facebook | Instagram

Contact: Lyndelle Nieuwkerk
Telephone: (305) 764-3200

Source: AerSale
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August 29, 2016 at 2:22 pm

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Monster Issues Open Letter To Stockholders

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-MediaNews Group Letter Based on Flawed and Uninformed Assumptions; Attempts to Put Randstad All-Cash Offer at Risk Without Offering Superior Proposal
WESTON, Mass. /PRNewswire/ — Monster Worldwide, Inc. (NYSE: MWW), a global leader in connecting jobs and people, today issued an open letter to stockholders in response to MediaNews Group, Inc.’s letter dated Friday, August 19, 2016. Following is the full text of the letter:

August 24, 2016

Dear Stockholder,

On behalf of your Board of Directors, I am writing in response to a letter from MediaNews Group (“MNG”), contained in an August 19, 2016 filing. The Board appreciates and will always consider input from Monster’s shareholders during this important time. Having considered the positions in MNG’s letter, and the inaccuracies therein, there are a number of key considerations of which shareholders should be aware.

MNG asserts that they are Monster’s largest stockholder, having very recently acquired their position as evidenced by their regulatory filings. Nevertheless, MNG has never discussed, or attempted to discuss, the issues raised in their letter with Monster’s management or Board. On the contrary, and in a reckless way, MNG is attempting to defeat a transaction that would provide all of you with immediate and certain cash value of $3.40 per share, representing a 22.7% premium to Monster’s closing stock price on August 8, 2016, the last trading day prior to the announcement, and a 29.4% premium over the 90-day average stock price.

We will be publicly filing and making available to you the background and circumstances surrounding the Board’s decision to enter into the merger agreement with Randstad North America, Inc. (“Randstad”). In the interim, there are important points we would like to highlight.

MNG is not offering you anything for your shares. They are asking you to turn down a significant cash premium NOW in the hope of a possibility that your shares may be worth more sometime in the future.

MNG’s hopes are pinned on incorrect and unsupportable assumptions.

MNG calls for draconian expense cuts, ignoring that more than $100 million of annual operating expenses have already been cut over the past several years.
MNG calls for reducing capital expenditures, ignoring that capital expenditures have already been cut by about 50% over the past several years; capital expenditures at the current reduced levels are needed for product enhancements to meet current, intensified competition.
MNG calls for divesting assets, ignoring that non-core or underperforming assets have already been divested.
MNG ignores that competition is intensifying from companies that are owned by substantially larger and better capitalized parents that can afford to compete aggressively on product pricing in pursuit of market share.
As will be explained to you in greater detail in our filing, your Board has recognized that enhancing Monster’s competitive position in the current environment will require continued investment, and we will likely be operating in a low growth environment with substantial margin pressure for a number of years.

A number of our analysts have recognized the challenges that Monster faces and the benefits of a transaction. For example, in its most recent post-announcement report, Avondale Partners said:

“We contend that termination of the Randstad offer would be disastrous for MWW shareholders.” (August 22, 2016)

We concluded that our stockholders would benefit from receiving a cash premium now and entered into an agreement with Randstad. We remind you that this agreement provides that we would only be required to pay a fee of 2.7% of equity value if we terminated it in favor of a superior proposal.

You will be receiving more detailed information from both Monster and Randstad. We believe that after reviewing this information, you will agree with us and support the transaction.


Tim Yates
CEO, CFO and Director
Monster Worldwide, Inc.

Evercore is serving as financial advisor to Monster and Dechert LLP is serving as legal counsel.

About Monster

Monster Worldwide, Inc. (NYSE: MWW) is a global leader in connecting people to jobs, wherever they are. For more than 20 years, Monster has helped people improve their lives with better jobs, and employers find the best talent. Today, the company offers services in more than 40 countries, providing some of the broadest, most sophisticated job seeking, career management, recruitment and talent management capabilities. Monster continues its pioneering work of transforming the recruiting industry with advanced technology using intelligent digital, social and mobile solutions, including our flagship website® and a vast array of products and services. For more information visit

Notice to Investors

The tender offer for the outstanding common stock of Monster Worldwide, Inc. has not yet commenced. This communication is for informational purposes only and does not constitute an offer to buy or a solicitation of an offer to sell any securities of Monster Worldwide, Inc. The solicitation and offer to buy common stock of Monster Worldwide, Inc. will only be made pursuant to an Offer to Purchase and related materials. At the time the tender offer is commenced, Randstad North America, Inc. and Merlin Global Acquisition, Inc. will file with the SEC a tender offer statement on Schedule TO, including an offer to purchase, letter of transmittal and related tender offer documents, and Monster Worldwide, Inc. will file with the SEC a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer. Investors are urged to read these materials when they become available, as well as any other relevant documents filed with the SEC when they become available, carefully and in their entirety because they will contain important information, including the terms and conditions of the tender offer. Investors may obtain a free copy of the Solicitation/Recommendation Statement and other documents (when available) that Monster Worldwide, Inc. files with the SEC at the SEC’s website at, or free of charge from Monster Worldwide, Inc. at

Cautionary Statement Regarding Forward-Looking Statements

Statements in this announcement regarding the proposed transaction, the expected timetable for completing the proposed transaction, future financial and operating results, future capital structure and liquidity, benefits of the proposed transaction, general business outlook and any other statements about the future expectations, beliefs, goals, plans or prospects of the board or management of the Company constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “expects,” “intends,” “anticipates,” “estimates,” “predicts,” “believes,” “should,” “potential,” “may,” “forecast,” “objective,” “plan,” or “targets” and other similar expressions) are intended to identify forward-looking statements. There are a number of factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: uncertainties as to the timing of completion of the proposed transaction, the ability to obtain requisite regulatory approvals, the tender of a majority of the outstanding shares of common stock of Monster Worldwide, Inc., the possibility that competing offers will be made and the satisfaction or waiver of the other conditions to the consummation of the proposed transaction; the potential impact of the announcement or consummation of the proposed transaction on relationships, including with employees, suppliers and customers; and the other factors and financial, operational and legal risks or uncertainties described in the Company’s public filings with the SEC, including the “Risk Factors” sections of the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 and subsequent Quarterly Reports on Form 10-Q, as well as the tender offer documents to be filed by Randstad North America, Inc. and the Solicitation/Recommendation Statement to be filed by Monster Worldwide, Inc. Monster Worldwide, Inc. disclaims any intention or obligation to update or revise any forward-looking statements as a result of developments occurring after the date of this document except as required by law.

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Source: Monster Worldwide, Inc.
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Written by asiafreshnews

August 29, 2016 at 12:11 pm

Posted in Uncategorized