Spain stocks, bonds fall back as Catalonia jitters return; oil rally stalls as storm approaches Gulf of Mexico
Reported by Globe and Mail 41 minutes ago.
Premarket: U.S. dollar gains as Europe struggles with Spain pains
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Mayor wants BMW and VW to compensate the capital for 'toxic diesels'
London mayor Sadiq Khan has written to the UK bosses of BMW, Mercedes-Benz and Volkswagen calling for them to chip into his air quality fund.The mayor said the car giants should compensate for the negative impacts their diesel vehicles have on air quality and public health in the capital. Khan said the car firms in question have already contributed up to £223m to the German government's sustainable mobility fund for cities, and should now take action in the capital.
*Read more*: Mayor says VW has shown utter contempt by refusing £2.5m compensation bill
Road transport accounts for around half of nitrogen oxide emissions in London, and the mayor says 90 per cent of them are caused by diesel emissions.
He has also written to the transport secretary, looking for the government to secure contributions from vehicle manufacturers on the same scale as the billions received from Volkswagen in the US.
Khan, said:
Londoners will be baffled by the double standards of these car manufacturers. On the one hand, they admit they’ve got to cut emissions from their vehicles, but they confine their funding to Germany alone. This is ridiculous, as their vehicles are driven all over Europe, including on London’s roads. They must apply the same approach across all the markets that they trade in.
In July, the UK managing director of VW sat in my office and said they couldn’t contribute anything to fund cleaning up London’s air, but their German colleagues are providing money. Londoners will find that unacceptable.
In July, the mayor criticised Volkswagen for showing "utter contempt" for Londoners, after the German car firm refused to pay £2.5m to compensate congestion charge money lost due to the emissions scandal.
VW, however, said all of its vehicles that benefited from the congestion charge greener vehicle discount "did so validly throughout the relevant period", and that there was "no basis" on which it could be said that TfL has lost any sums as a result of the NOx issue, so no compensation was due.
A T-charge comes into effect from 23 October in the capital, on top of the congestion charge, which Khan said should help remove older polluting vehicles from central London.
*Read more*: Government's draft clean air plans include a "targeted" scrappage scheme Reported by City A.M. 9 minutes ago.
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Trans-Europe Express: October’s Revolution
Did anyone ever think there was the chance of a revolution happening now, given the state of Western Europe in the 21st Century?
Reported by EurActiv 15 minutes ago.
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Global markets: Dollar gains as Europe struggles with Spain pains
By Marc Jones
Reported by Sify 17 minutes ago.
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4finance welcomes credit rating upgrade (news with additional features)
DGAP-News: 4finance S.A. / Key word(s): Rating
06.10.2017 / 11:54
The issuer is solely responsible for the content of this announcement.
--------------------
*4finance welcomes credit rating upgrade*
Moody's Investor Service upgrades the Group's credit ratings to B2 from B3
Upgrade comes as 4finance passes EUR 5 billion loan issuance milestone
6 October 2017. 4finance Holding S.A. (the "Group"), Europe's largest online and mobile consumer lending group, welcomes the upgrade of its long-term corporate family and issuer ratings to B2 from B3 by Moody's Investor Service ("Moody's"). The 4finance S.A. senior unsecured issuer rating was also upgraded to B2 from B3. The outlook on all ratings is stable.
The Moody's rating action press release, published yesterday, cited key drivers for the upgrade as "the moderating risk appetite and growth strategy relative to the aggressive growth strategy it pursued in its first years of existence, the predictive track record of its scoring and pricing models, and the benefits derived from 4finance's acquisition of TBI Bank in 2016".
Julija Lebedinska-Litvinova, Chief Risk Officer of 4finance, commented:
"We constantly refine and improve our credit underwriting processes, adding new data sources and technologies, to ensure we lend responsibly to our customers. We welcome Moody's recognition of our strong underwriting track record as well as our increasingly active management of non-performing loan portfolios."
Mark Ruddock, CEO of 4finance commented:
"This credit rating upgrade comes on the same day that 4finance surpassed EUR 5 billion in loans since our inception in 2008. Our strong credit scoring capabilities, the transparency and flexibility of our products, our multi-country experience and our significant scale, are part of why we believe 4finance is uniquely positioned to succeed in building a business that empowers the world's financially underserved."
*For more information, please contact:*
*4finance *(Investor Relations) Email: investorrelations@4finance.com
James Etherington +44 (0)7766 697 950
Guy Middleton Email: press@4finance.com
*Instinctif Partners* (International Media) Email: 4finance@instinctif.com
Mark Walter +44 (0)20 7866 7887
David Simonson
*Notes to Editors *
Established in 2008, 4finance is the largest and fastest growing online and mobile consumer lending group in Europe with operations in 17 countries. Putting innovative data-driven analysis into all aspects of the business, 4finance has grown rapidly, issuing over EUR 5 billion to date in single payment loans, instalment loans and lines of credit.
4finance operates through a portfolio of market leading brands with strong regional presence including Vivus, SMSCredit and Zaplo. A responsible lender, offering simple, convenient and transparent products and service, 4finance is meeting growing customer demand from those under-served by conventional lending.
4finance has group offices in Riga (Latvia), London (UK) and Miami (USA), and currently operates in Argentina, Armenia, Bulgaria, the Czech Republic, Denmark, the Dominican Republic, Finland, Georgia, Latvia, Lithuania, Mexico, Poland, Romania, Spain, Slovakia and Sweden. The group also provides consumer and SME lending through TBI Bank, its EU licensed banking operations in Bulgaria and Romania.
www.4finance.com
--------------------
Additional features:
Document: http://n.eqs.com/c/fncls.ssp?u=AIDCQSHYJO
Document title: 4finance welcomes credit rating upgrade --------------------
06.10.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de --------------------
Language: English
Company: 4finance S.A.
9, Allee Scheffer
2520 Luxembourg
Grand Duchy of Luxembourg
E-mail: info@4finance.com
ISIN: XS1417876163, SE0006594412, XS1092320099, XS1094137806,
WKN: A181ZP
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart
End of News DGAP News Service Reported by EQS Group 15 minutes ago.
06.10.2017 / 11:54
The issuer is solely responsible for the content of this announcement.
--------------------
*4finance welcomes credit rating upgrade*
Moody's Investor Service upgrades the Group's credit ratings to B2 from B3
Upgrade comes as 4finance passes EUR 5 billion loan issuance milestone
6 October 2017. 4finance Holding S.A. (the "Group"), Europe's largest online and mobile consumer lending group, welcomes the upgrade of its long-term corporate family and issuer ratings to B2 from B3 by Moody's Investor Service ("Moody's"). The 4finance S.A. senior unsecured issuer rating was also upgraded to B2 from B3. The outlook on all ratings is stable.
The Moody's rating action press release, published yesterday, cited key drivers for the upgrade as "the moderating risk appetite and growth strategy relative to the aggressive growth strategy it pursued in its first years of existence, the predictive track record of its scoring and pricing models, and the benefits derived from 4finance's acquisition of TBI Bank in 2016".
Julija Lebedinska-Litvinova, Chief Risk Officer of 4finance, commented:
"We constantly refine and improve our credit underwriting processes, adding new data sources and technologies, to ensure we lend responsibly to our customers. We welcome Moody's recognition of our strong underwriting track record as well as our increasingly active management of non-performing loan portfolios."
Mark Ruddock, CEO of 4finance commented:
"This credit rating upgrade comes on the same day that 4finance surpassed EUR 5 billion in loans since our inception in 2008. Our strong credit scoring capabilities, the transparency and flexibility of our products, our multi-country experience and our significant scale, are part of why we believe 4finance is uniquely positioned to succeed in building a business that empowers the world's financially underserved."
*For more information, please contact:*
*4finance *(Investor Relations) Email: investorrelations@4finance.com
James Etherington +44 (0)7766 697 950
Guy Middleton Email: press@4finance.com
*Instinctif Partners* (International Media) Email: 4finance@instinctif.com
Mark Walter +44 (0)20 7866 7887
David Simonson
*Notes to Editors *
Established in 2008, 4finance is the largest and fastest growing online and mobile consumer lending group in Europe with operations in 17 countries. Putting innovative data-driven analysis into all aspects of the business, 4finance has grown rapidly, issuing over EUR 5 billion to date in single payment loans, instalment loans and lines of credit.
4finance operates through a portfolio of market leading brands with strong regional presence including Vivus, SMSCredit and Zaplo. A responsible lender, offering simple, convenient and transparent products and service, 4finance is meeting growing customer demand from those under-served by conventional lending.
4finance has group offices in Riga (Latvia), London (UK) and Miami (USA), and currently operates in Argentina, Armenia, Bulgaria, the Czech Republic, Denmark, the Dominican Republic, Finland, Georgia, Latvia, Lithuania, Mexico, Poland, Romania, Spain, Slovakia and Sweden. The group also provides consumer and SME lending through TBI Bank, its EU licensed banking operations in Bulgaria and Romania.
www.4finance.com
--------------------
Additional features:
Document: http://n.eqs.com/c/fncls.ssp?u=AIDCQSHYJO
Document title: 4finance welcomes credit rating upgrade --------------------
06.10.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de --------------------
Language: English
Company: 4finance S.A.
9, Allee Scheffer
2520 Luxembourg
Grand Duchy of Luxembourg
E-mail: info@4finance.com
ISIN: XS1417876163, SE0006594412, XS1092320099, XS1094137806,
WKN: A181ZP
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart
End of News DGAP News Service Reported by EQS Group 15 minutes ago.
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Europe Markets: European stocks slip with U.S. jobs data in view; Spanish banks resume selloff
Reported by MarketWatch 6 minutes ago.
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Trader: Investors Should Ignore Payrolls, Focus On Europe
In his latest Macro View, Bloomberg reporter and macro commentator, David Finnerty, explains why investors are better off ignoring today's payrolls report - where "any weakness will be attributed to hurricanes, while a beat on payrolls or wages would be seen as supporting a Federal Reserve interest rate increase in December" - and instead focus on Europe, and specifically the next ECB meeting which will set the stage for the next big move in global risk.His full note below.*Looking for the Next Treasury Driver After Payrolls*
While all eyes will be on the U.S. non-farm payrolls data Friday, *investors may want to look to Europe for the next major catalyst*.
The ECB’s policy meeting is approaching and with some form of QE adjustment announcement expected, we may see European yields rise taking American ones with them.
The balance of risks is in favor of yields rising after the U.S. employment report. *Any weakness will be attributed to hurricanes, while a beat on payrolls or wages would be seen as supporting a Federal Reserve interest rate increase in December.*
*But the ECB could be a more significant driver*. President Mario Draghi said in September that the bulk of the decisions on QE will be taken in October.
The euro has weakened since the previous meeting. *Any perceived tightening is likely to push yields higher initially.*
When the Fed formally announced its well-choreographed plan to slow down bond purchases at its December 2013 meeting, *the U.S. 10-year yield reacted by rising from about 2.8% to more than 3% two weeks later. Eurozone yields followed.*
This time around the roles could be reversed. *So pay attention to payrolls, but after that it’s over to you, President Draghi.* Reported by Zero Hedge 50 seconds ago.
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Danimer Scientific LLC: Leading Sustainability Partners Danimer Scientific and PepsiCo Present Brand Collaboration Case Study at EFIB 2017
Sustainability pioneers share innovation insights at largest biotechnology conference in Europe BAINBRIDGE, Ga. and PURCHASE, N.Y., 2017-10-09 09:00 CEST (GLOBE NEWSWIRE) -- Industry leaders at Dan...
Reported by FinanzNachrichten.de 3 hours ago.
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Luxembourg Hosts the First European Edition of the NewSpace Conference
LUXEMBOURG--(BUSINESS WIRE)--The Luxembourg Ministry of the Economy and the US Space Frontier Foundation partner to organize the inaugural European edition of the NewSpace Conference, “NewSpace Europe”, that takes place in Luxembourg City on November 16 and 17, 2017. This is the first time that one of the leading events in the emerging commercial space industry is organized outside of the US. Within its SpaceResources.lu initiative, Luxembourg is the first European nation providing an attractiv
Reported by Business Wire 3 hours ago.
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PowerShares FTSE RAFI Europe Mid-Small UCITS ETF - Net Asset Value(s)
PR NewswireLondon, October 6 Funds Date Ticker ISIN code Shares in Currency Net Asset NAV/per Symbol Issue Value share Base PowerShares 06.10.2017 PSES IE00B23D8Y98 900,001 EUR 13,925,994 15.47331...
Reported by FinanzNachrichten.de 3 hours ago.
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PowerShares FTSE RAFI Europe UCITS ETF - Net Asset Value(s)
PR NewswireLondon, October 6 Funds Date Ticker ISIN code Shares in Currency Net Asset NAV/per Symbol Issue Value share Base PowerShares 06.10.2017 PSRE IE00B23D8X81 1,200,001 EUR 11,590,410 9.6586...
Reported by FinanzNachrichten.de 3 hours ago.
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Kenna Security Expands to Address Growing Information Security Demands in Europe, Middle East and Africa
Trevor Crompton Joins as Head of EMEA Sales and Partnerships
London (PRWEB) October 09, 2017
Kenna Security, a vulnerability and risk intelligence platform that enables organizations to measure and monitor their exposure to risk, announced today that it is expanding to meet growing demands in the European, Middle Eastern and African (EMEA) regions and has hired Trevor Crompton to lead sales and partner efforts, and to build Kenna’s presence in the area.
In his new role, Crompton will expand Kenna Security’s partner relationships, including those with resellers, VARs and MSSPs, and lead efforts to grow the company’s channel sales in the EMEA regions. He’ll also be responsible for recruiting and growing Kenna’s staff and presence in the area. Crompton comes to Kenna with more than 25 years of experience in the security industry across EMEA. Most recently he was the EMEA channel director for RiskIQ in London, where he built a partner economy and community. Prior to his role at RiskIQ, Crompton was the EMEA sales director at Symantec, responsible for building a $42 million services business, leading a team of sales specialists, and building the business from the ground up.
“Outside the U.S. market, we’ve seen tremendous growth in demand for risk-based information security solutions that can manage the deluge of vulnerability alerts and challenges facing organizations today,” said Karim Toubba, CEO at Kenna Security. “Kenna has developed strategic relationships with some of the top channel partners in the region to bring its innovative platform to EMEA-based organizations and Trevor’s extensive experience will help us expand those relationships to reach more organizations.”
Demand for Vulnerability Management Solutions Grows Across EMEA
According to Gartner Group, overall security spending in 2017 across EMEA is $28.7 million and is predicted to grow to $36.9 million by 2021, with Western Europe seeing a 6.9 percent compound annual growth rate during that period. Gartner also notes that the EU General Data Protection Regulation (GDPR) has increased interest in, and will drive 65 percent of, data loss prevention buying decisions today through 2018.
Kenna Helps Manage Vulnerabilities
Kenna’s innovative vulnerability and risk intelligence platform provides customers an easy to understand risk score, giving them the ability to identify, prioritize and address its greatest information security weaknesses according to their specific risk profile. It processes and analyzes more than 1 million vulnerabilities each hour, integrating critical vulnerability data from the worlds' leading vulnerability scanning solutions with hundreds of commercial and proprietary threat intelligence feeds, and correlates them to help track and prioritize hundreds of millions of vulnerabilities into manageable, actionable steps that address these weaknesses for security and IT teams.
##
Note to editors:
A photo of Trevor Crompton, head of EMEA sales and partnerships, Kenna Security is available here: https://tinyurl.com/yc6bn89a
About Kenna Security
Kenna Security is vulnerability and risk intelligence platform that accurately measures risk and prioritizes remediation efforts before an attacker can exploit an organization's weaknesses. Kenna Security accomplishes this by automating the correlation of customer vulnerability data, threat data, and zero-day data, analyzing security vulnerabilities against active Internet breaches. For more information, visit kennasecurity.com. Follow us on Facebook, Twitter, and LinkedIn.
Media Contacts:
United Kingdom:
Harris Communications
Derek Harris
derek(at)harriscomms(dot)com
+44 (0) 1395 516613
United States:
Guyer Group
Alison Kenney
alison.kenney(at)guyergroup(dot)com
781-990-3729 Reported by PRWeb 3 hours ago.
London (PRWEB) October 09, 2017
Kenna Security, a vulnerability and risk intelligence platform that enables organizations to measure and monitor their exposure to risk, announced today that it is expanding to meet growing demands in the European, Middle Eastern and African (EMEA) regions and has hired Trevor Crompton to lead sales and partner efforts, and to build Kenna’s presence in the area.
In his new role, Crompton will expand Kenna Security’s partner relationships, including those with resellers, VARs and MSSPs, and lead efforts to grow the company’s channel sales in the EMEA regions. He’ll also be responsible for recruiting and growing Kenna’s staff and presence in the area. Crompton comes to Kenna with more than 25 years of experience in the security industry across EMEA. Most recently he was the EMEA channel director for RiskIQ in London, where he built a partner economy and community. Prior to his role at RiskIQ, Crompton was the EMEA sales director at Symantec, responsible for building a $42 million services business, leading a team of sales specialists, and building the business from the ground up.
“Outside the U.S. market, we’ve seen tremendous growth in demand for risk-based information security solutions that can manage the deluge of vulnerability alerts and challenges facing organizations today,” said Karim Toubba, CEO at Kenna Security. “Kenna has developed strategic relationships with some of the top channel partners in the region to bring its innovative platform to EMEA-based organizations and Trevor’s extensive experience will help us expand those relationships to reach more organizations.”
Demand for Vulnerability Management Solutions Grows Across EMEA
According to Gartner Group, overall security spending in 2017 across EMEA is $28.7 million and is predicted to grow to $36.9 million by 2021, with Western Europe seeing a 6.9 percent compound annual growth rate during that period. Gartner also notes that the EU General Data Protection Regulation (GDPR) has increased interest in, and will drive 65 percent of, data loss prevention buying decisions today through 2018.
Kenna Helps Manage Vulnerabilities
Kenna’s innovative vulnerability and risk intelligence platform provides customers an easy to understand risk score, giving them the ability to identify, prioritize and address its greatest information security weaknesses according to their specific risk profile. It processes and analyzes more than 1 million vulnerabilities each hour, integrating critical vulnerability data from the worlds' leading vulnerability scanning solutions with hundreds of commercial and proprietary threat intelligence feeds, and correlates them to help track and prioritize hundreds of millions of vulnerabilities into manageable, actionable steps that address these weaknesses for security and IT teams.
##
Note to editors:
A photo of Trevor Crompton, head of EMEA sales and partnerships, Kenna Security is available here: https://tinyurl.com/yc6bn89a
About Kenna Security
Kenna Security is vulnerability and risk intelligence platform that accurately measures risk and prioritizes remediation efforts before an attacker can exploit an organization's weaknesses. Kenna Security accomplishes this by automating the correlation of customer vulnerability data, threat data, and zero-day data, analyzing security vulnerabilities against active Internet breaches. For more information, visit kennasecurity.com. Follow us on Facebook, Twitter, and LinkedIn.
Media Contacts:
United Kingdom:
Harris Communications
Derek Harris
derek(at)harriscomms(dot)com
+44 (0) 1395 516613
United States:
Guyer Group
Alison Kenney
alison.kenney(at)guyergroup(dot)com
781-990-3729 Reported by PRWeb 3 hours ago.
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eCOMM Merchant Solutions Expands Offering With the Provision of Payment Terminals
NAVAN, Co. Meath, Ireland, October 9, 2017 /PRNewswire/ -- eCOMM Merchant Solutions has announced the Next Phase of its Expansion into Europe's Vibrant Card Payments Industry Today eCOMM Merchant ...
Reported by FinanzNachrichten.de 3 hours ago.
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SAF-HOLLAND S.A.: SAF-HOLLAND adjusts its outlook for the 2017 financial year
DGAP-News: SAF-HOLLAND S.A. / Key word(s): Change in Forecast
09.10.2017 / 09:40
The issuer is solely responsible for the content of this announcement.
--------------------
*SAF-HOLLAND adjusts its outlook for the 2017 financial year*
*- Preliminary figures show Group sales in the third quarter of 2017 at approx. EUR 277.1 million (previous year: EUR 255.8 million) and organic growth at roughly 9.6% *
*- Pick-up in demand coinciding with current US plant consolidation results in temporary additional expenses in the third quarter of approx. EUR 4.0 million*
*- 2017 financial year sales forecast raised to a range of EUR 1,125 million to EUR 1,135 million (previous forecast: tending rather towards the upper end of the EUR 1,060 million to EUR 1,090 million range) due to stronger-than-expected organic growth*
*- Adjusted EBIT margin in 2017 expected within the originally planned range of 8-9%, but from today's perspective should rather tend towards the lower end of this range (previous forecast: mid-point of this range)*
*Organic sales growth accelerates in the third quarter*
Luxembourg, October 09, 2017 +++ Based on preliminary, unaudited Group figures, SAF-HOLLAND S.A. ("SAF-HOLLAND") generated sales in the third quarter of approx. EUR 277.1 million (previous year: EUR 255.8 million), representing year-on-year growth of 8.3%. On an organic basis (excluding currency and consolidation effects), year-on-year growth amounted to roughly 9.6%, which demonstrates that sales gained further momentum after an already strong first half-year (+7.4%). The third quarter of 2017 saw a particularly strong year-on-year rise in short-term demand from OEM customers in the US truck and trailer industry. Sales in APAC/China in the third quarter remained brisk, buoyed by the statutory maximum load restrictions for commercial vehicles, while in Europe the essentially solid market trend continued.
*Strong increase in demand during the current US plant consolidation causes a temporary rise in expenses*
As part of the consolidation of the US plant network announced at the start of the year, and particularly as a result of the transfer of production from the Holland and Muskegon (Michigan) locations to the Cincinnati (Ohio), Warrenton (Missouri), Dumas (Arkansas) and Wylie (Texas) sites, one-time restructuring expenses for the plant consolidation of roughly EUR 3.0 million were incurred in the third quarter of 2017 and excluded in the calculation of the adjusted EBIT.
Given the noticeably stronger-than-expected demand from many OEM customers in North America, which coincided with the late-stage transitioning measures being undertaken as part of the current plant consolidation and the resulting temporary limitations on capacity, there were also appreciable production inefficiencies in the third quarter of 2017. In order to manage the high production quantities, there was a temporary need for a significantly higher number of employees than originally planned, and freight and logistics costs were forced sharply higher. The sum of additional unplanned expenses in the third quarter of 2017 totaled approx. EUR 4.0 million. These expenses placed equal pressure on the gross profit, operating result and adjusted EBIT of the Americas region. Despite the strong performance in the EMEA/I region, this effect could not be compensated for. The Group's preliminary total adjusted EBIT figure in the third quarter of 2017 reached approx. EUR 20.9 million (previous year: EUR 21.6 million), representing an adjusted EBIT margin of 7.5%. The reported EBIT in the third quarter of 2017 amounted to roughly EUR 15.6 million (previous year: EUR 17.1 million) and included one-time restructuring expenses totaling EUR 4.0 million (EUR 3.0 million of which was attributable to the US plant consolidation) and purchase price allocation effects of around EUR 1.3 million.
CEO Detlef Borghardt in his comments about the development in the United States at the end of the third quarter stated: "The temporary, higher-than-expected costs necessary to manage the brisk pick-up in production quantities in North America burdened earnings short-term. Nevertheless, we are confident that maintaining a clear and continuous focus on our customers' needs is the right decision for our long-term success. It helps us build a strong foundation for our future relationship with our customers and gain further market share."
*2017 sales forecast raised to EUR 1,125 million to EUR 1,135 million*
Given the high level of organic growth generated year-to-date and the business development expected for the remainder of the 2017 financial year, SAF-HOLLAND now expects full-year 2017 organic Group sales to be in the range of EUR 1,125 million to EUR 1,135 million (previous year: EUR 1,042 million). As a result, Group sales should significantly exceed the original forecast of tending towards the upper end of the EUR 1,060 million to EUR 1,090 million range. SAF-HOLLAND already stated with the publication of its 2017 half-year report that Group sales for the full 2017 financial year could presumably come in rather towards the upper end of the EUR 1,060 million to EUR 1,090 million range that was projected in the annual report for the 2017 financial year.
*2017 adjusted EBIT margin expected to rather tend towards the lower end of the range of 8-9% *
The transfer of production facilities from their location in Holland, U.S., was completed at the end of September 2017. The transfer of production from the Muskegon location is still underway and will be completed by the end of the year. In light of the strong demand situation, SAF-HOLLAND expects to incur further additional operating expenses in connection with the US plant consolidation in the current fourth quarter. As a result, SAF-HOLLAND still expects to reach the 2017 earnings expectations set out in the 2016 annual report for an adjusted EBIT margin in the range of 8-9%. Yet whereas, until now, the expectation was that the margin would tend towards the mid-point of this range, based on the temporary cost situation in North America described above, the Company from today's standpoint expects that the adjusted EBIT margin will rather tend towards the lower end of the 8-9% range planned.
For the 2017 financial year, the Group expects to incur one-time restructuring expenses for the consolidation of the North American plant network in the range of US$ 11 million to US$ 12 million. These expenses mainly consist of relocation costs, asset impairment charges and severance payments. This range compares to the originally planned amount of US$ 10 million for restructuring expenses. Important to highlight is that these expenses are excluded in the calculation of adjusted EBIT, the Group's key performance indicator. Unchanged SAF-HOLLAND expects a reduction in the direct cost base in North American of roughly US$ 5 million p.a. after the successful completion of the restructuring measures.
*Conference Call on October 9, 2017, at 13:00 p.m. CEST*
With the announcement of the preliminary results for the third quarter of 2017, SAF-HOLLAND will host a conference call for analysts and investors with CEO Detlef Borghardt and CFO Dr. Matthias Heiden today, October 9, 2017, at 13:00 p.m. CEST.
To join the conference call and web presentation, please use the following dial-in numbers:
Telephone numbers:
+49 30 232531428 Germany (local)
+44 1635 598058 United Kingdom (local)
+1 312 4799419 United States (local)
+41 44 5112190 Switzerland (local)
+45 38 323125 Denmark (local)
Link to web presentation Event Manager:
https://em-tn.meetyoo.de/?token=n54vZs4jVCw%3D&lang=en
About SAF-HOLLAND:
SAF-HOLLAND S.A., located in Luxembourg, is the largest independent listed supplier to the commercial vehicle market in Europe delivering mainly to the trailer markets. With sales of approximately EUR 1,042 million in 2016, the Company is one of the world's leading manufacturers and suppliers of chassis-related systems and components primarily for trailers, trucks, buses, and recreational vehicles. The product range comprises axle and suspension systems, fifth wheels, kingpins, and landing gear marketed under the brands SAF, HOLLAND and Neway. SAF-HOLLAND sells its products to Original Equipment Manufacturers (OEMs) on six continents. The Group's Aftermarket business supplies spare parts to the service networks of Original Equipment Suppliers (OES), as well as to end customers and service centers through its extensive global distribution network. SAF-HOLLAND is one of the few suppliers in the truck and trailer industry that is internationally positioned in almost all markets worldwide.
With the innovation campaign "SMARTSTEEL - ENGINEER BUILD CONNECT", SAF-HOLLAND combines mechanics with sensors and electronics and drives the digital networking of commercial vehicles and logistics chains. A total of 3,200 committed employees worldwide are already working on the future of the transportation industry.
Contact:
SAF-HOLLAND GmbH
Stephan Haas
Hauptstraße 26
63856 Bessenbach
Phone +49 6095 301-617
Stephan.Haas@safholland.de --------------------
09.10.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de --------------------
Language: English
Company: SAF-HOLLAND S.A.
68-70, boulevard de la Pétrusse
L-2320 Luxembourg
Luxemburg
Phone: +49 6095 301 - 0
Fax: +49 6095 301 - 260
E-mail: info@safholland.de
Internet: www.safholland.com
ISIN: LU0307018795, DE000A1HA979,
WKN: A0MU70, A1HA97
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service Reported by EQS Group 2 hours ago.
09.10.2017 / 09:40
The issuer is solely responsible for the content of this announcement.
--------------------
*SAF-HOLLAND adjusts its outlook for the 2017 financial year*
*- Preliminary figures show Group sales in the third quarter of 2017 at approx. EUR 277.1 million (previous year: EUR 255.8 million) and organic growth at roughly 9.6% *
*- Pick-up in demand coinciding with current US plant consolidation results in temporary additional expenses in the third quarter of approx. EUR 4.0 million*
*- 2017 financial year sales forecast raised to a range of EUR 1,125 million to EUR 1,135 million (previous forecast: tending rather towards the upper end of the EUR 1,060 million to EUR 1,090 million range) due to stronger-than-expected organic growth*
*- Adjusted EBIT margin in 2017 expected within the originally planned range of 8-9%, but from today's perspective should rather tend towards the lower end of this range (previous forecast: mid-point of this range)*
*Organic sales growth accelerates in the third quarter*
Luxembourg, October 09, 2017 +++ Based on preliminary, unaudited Group figures, SAF-HOLLAND S.A. ("SAF-HOLLAND") generated sales in the third quarter of approx. EUR 277.1 million (previous year: EUR 255.8 million), representing year-on-year growth of 8.3%. On an organic basis (excluding currency and consolidation effects), year-on-year growth amounted to roughly 9.6%, which demonstrates that sales gained further momentum after an already strong first half-year (+7.4%). The third quarter of 2017 saw a particularly strong year-on-year rise in short-term demand from OEM customers in the US truck and trailer industry. Sales in APAC/China in the third quarter remained brisk, buoyed by the statutory maximum load restrictions for commercial vehicles, while in Europe the essentially solid market trend continued.
*Strong increase in demand during the current US plant consolidation causes a temporary rise in expenses*
As part of the consolidation of the US plant network announced at the start of the year, and particularly as a result of the transfer of production from the Holland and Muskegon (Michigan) locations to the Cincinnati (Ohio), Warrenton (Missouri), Dumas (Arkansas) and Wylie (Texas) sites, one-time restructuring expenses for the plant consolidation of roughly EUR 3.0 million were incurred in the third quarter of 2017 and excluded in the calculation of the adjusted EBIT.
Given the noticeably stronger-than-expected demand from many OEM customers in North America, which coincided with the late-stage transitioning measures being undertaken as part of the current plant consolidation and the resulting temporary limitations on capacity, there were also appreciable production inefficiencies in the third quarter of 2017. In order to manage the high production quantities, there was a temporary need for a significantly higher number of employees than originally planned, and freight and logistics costs were forced sharply higher. The sum of additional unplanned expenses in the third quarter of 2017 totaled approx. EUR 4.0 million. These expenses placed equal pressure on the gross profit, operating result and adjusted EBIT of the Americas region. Despite the strong performance in the EMEA/I region, this effect could not be compensated for. The Group's preliminary total adjusted EBIT figure in the third quarter of 2017 reached approx. EUR 20.9 million (previous year: EUR 21.6 million), representing an adjusted EBIT margin of 7.5%. The reported EBIT in the third quarter of 2017 amounted to roughly EUR 15.6 million (previous year: EUR 17.1 million) and included one-time restructuring expenses totaling EUR 4.0 million (EUR 3.0 million of which was attributable to the US plant consolidation) and purchase price allocation effects of around EUR 1.3 million.
CEO Detlef Borghardt in his comments about the development in the United States at the end of the third quarter stated: "The temporary, higher-than-expected costs necessary to manage the brisk pick-up in production quantities in North America burdened earnings short-term. Nevertheless, we are confident that maintaining a clear and continuous focus on our customers' needs is the right decision for our long-term success. It helps us build a strong foundation for our future relationship with our customers and gain further market share."
*2017 sales forecast raised to EUR 1,125 million to EUR 1,135 million*
Given the high level of organic growth generated year-to-date and the business development expected for the remainder of the 2017 financial year, SAF-HOLLAND now expects full-year 2017 organic Group sales to be in the range of EUR 1,125 million to EUR 1,135 million (previous year: EUR 1,042 million). As a result, Group sales should significantly exceed the original forecast of tending towards the upper end of the EUR 1,060 million to EUR 1,090 million range. SAF-HOLLAND already stated with the publication of its 2017 half-year report that Group sales for the full 2017 financial year could presumably come in rather towards the upper end of the EUR 1,060 million to EUR 1,090 million range that was projected in the annual report for the 2017 financial year.
*2017 adjusted EBIT margin expected to rather tend towards the lower end of the range of 8-9% *
The transfer of production facilities from their location in Holland, U.S., was completed at the end of September 2017. The transfer of production from the Muskegon location is still underway and will be completed by the end of the year. In light of the strong demand situation, SAF-HOLLAND expects to incur further additional operating expenses in connection with the US plant consolidation in the current fourth quarter. As a result, SAF-HOLLAND still expects to reach the 2017 earnings expectations set out in the 2016 annual report for an adjusted EBIT margin in the range of 8-9%. Yet whereas, until now, the expectation was that the margin would tend towards the mid-point of this range, based on the temporary cost situation in North America described above, the Company from today's standpoint expects that the adjusted EBIT margin will rather tend towards the lower end of the 8-9% range planned.
For the 2017 financial year, the Group expects to incur one-time restructuring expenses for the consolidation of the North American plant network in the range of US$ 11 million to US$ 12 million. These expenses mainly consist of relocation costs, asset impairment charges and severance payments. This range compares to the originally planned amount of US$ 10 million for restructuring expenses. Important to highlight is that these expenses are excluded in the calculation of adjusted EBIT, the Group's key performance indicator. Unchanged SAF-HOLLAND expects a reduction in the direct cost base in North American of roughly US$ 5 million p.a. after the successful completion of the restructuring measures.
*Conference Call on October 9, 2017, at 13:00 p.m. CEST*
With the announcement of the preliminary results for the third quarter of 2017, SAF-HOLLAND will host a conference call for analysts and investors with CEO Detlef Borghardt and CFO Dr. Matthias Heiden today, October 9, 2017, at 13:00 p.m. CEST.
To join the conference call and web presentation, please use the following dial-in numbers:
Telephone numbers:
+49 30 232531428 Germany (local)
+44 1635 598058 United Kingdom (local)
+1 312 4799419 United States (local)
+41 44 5112190 Switzerland (local)
+45 38 323125 Denmark (local)
Link to web presentation Event Manager:
https://em-tn.meetyoo.de/?token=n54vZs4jVCw%3D&lang=en
About SAF-HOLLAND:
SAF-HOLLAND S.A., located in Luxembourg, is the largest independent listed supplier to the commercial vehicle market in Europe delivering mainly to the trailer markets. With sales of approximately EUR 1,042 million in 2016, the Company is one of the world's leading manufacturers and suppliers of chassis-related systems and components primarily for trailers, trucks, buses, and recreational vehicles. The product range comprises axle and suspension systems, fifth wheels, kingpins, and landing gear marketed under the brands SAF, HOLLAND and Neway. SAF-HOLLAND sells its products to Original Equipment Manufacturers (OEMs) on six continents. The Group's Aftermarket business supplies spare parts to the service networks of Original Equipment Suppliers (OES), as well as to end customers and service centers through its extensive global distribution network. SAF-HOLLAND is one of the few suppliers in the truck and trailer industry that is internationally positioned in almost all markets worldwide.
With the innovation campaign "SMARTSTEEL - ENGINEER BUILD CONNECT", SAF-HOLLAND combines mechanics with sensors and electronics and drives the digital networking of commercial vehicles and logistics chains. A total of 3,200 committed employees worldwide are already working on the future of the transportation industry.
Contact:
SAF-HOLLAND GmbH
Stephan Haas
Hauptstraße 26
63856 Bessenbach
Phone +49 6095 301-617
Stephan.Haas@safholland.de --------------------
09.10.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de --------------------
Language: English
Company: SAF-HOLLAND S.A.
68-70, boulevard de la Pétrusse
L-2320 Luxembourg
Luxemburg
Phone: +49 6095 301 - 0
Fax: +49 6095 301 - 260
E-mail: info@safholland.de
Internet: www.safholland.com
ISIN: LU0307018795, DE000A1HA979,
WKN: A0MU70, A1HA97
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service Reported by EQS Group 2 hours ago.
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Trade Ideas Summit 2017 Streamed Live to More than 3,000 Stock Investors
Breaking their 2016 video streaming numbers, the 2nd annual financial technology conference included eight enlightening speakers and two lively industry panels.
Carlsbad, CA (PRWEB) October 09, 2017
On Sunday October 1st, E*Trade Financial presented the Trade Ideas Summit 2017: The Search for the ‘Holly’ Grail—a day of speakers exploring financial technology trends. The conference was also supported by shortlist specialist brokerage, and San Diego locals, CenterPoint Securities.
In the interest of educating traders and investors globally, Trade Ideas provided a live video stream of all speakers and panels available to the public for free. Over 3,000 people streamed the conference, tripling the number of streamers from last year’s Empowering Women Investors conference.
Dave Whitmore, from E*Trade Financial opened the program with enlightening data from E*Trade’s Quarter 3 2017 StreetWise survey. Other speakers included CMT and author Brian Shannon, Greg Robin of Random Walk Financial (a consumer trend analytics firm), Jane Gallina (mother, author, daytrader), Michael Nauss (automated execution trader), Sean Dekmar (day trader, educator), and David Aferiat, co-founder and managing partner at Trade Ideas. Rounding out the day were two entertaining panels that added Doug Rumer (day trader, educator) and Thomas Marks of IFS Securities.
“It was good to get so many different perspectives on the market,” commented Phil Smolen, CTO of Trade Ideas. “We had a similar theme last year [at Empowering Women Investors]. Shari [Mirkin] described how anyone could get into the stock market. Stephanie [Clark Burke] described how much crazier things were ‘back in the day.’ And Jane [Gallina] filled in the middle, describing how she consistently grabs what she needs every day to make a good living from the stock market.”
Jane Gallina, who presented at last year’s conference and spoke again at this year’s Summit, remarked, “It was an honor to be able to represent women traders at the Trade Ideas Holly Summit. Each year it gets more informative and expands not only my knowledge from other great traders but the attendees as well.”
The final speaker and moderator of the second panel was David Aferiat, a co-founder and managing partner at Trade Ideas. David is excited about how this conference helps our subscribers and others, “Not only do our subscribers gain immeasurable knowledge from invited speakers, headliners, and each other in order to form a great, ongoing community, but we at Trade Ideas better understand the impact of the technology on our subscribers' market decisions as well as the impact on their lifestyle and personal achievements.”
“I’ve been working with some [of the presenters] online for years,” reflected Scott Olson, Director of Marketing at Trade Ideas, “meeting them in person and watching their presentations impressed me with how differently investors or traders can approach the markets, yet still adapt the same new tools for their distinct strategies.” You can view the complete archive of each speaker and panel of the Trade Ideas Summit 2017 here(https://www.trade-ideas.com/hollysummit).
To learn more about how the technology Trade Ideas is bringing to market can help you, sign up for the free Trade of the Week newsletter (https://www.trade-ideas.com/free). You’ll receive an AI derived trade idea each week and invitations to exclusive events.
About Trade Ideas LLC
Trade Ideas creates actionable market intelligence for institutions, advisors, and self-directed investors to make consistently informed decisions mitigating risk and capturing alpha. As a SaaS Fintech innovator for over 13 years, Trade Ideas leverages algorithms derived from recursive, Machine Learning, Artificial Intelligence to develop trade plans and produce statistically tested, optimized performance results. Trade Ideas' inputs include Big Data sets from U.S. and Canadian market feeds, technical, fundamental, and non-structured data sets such as news and social media. Trade Ideas' client base is from around the world totaling more than 8,000 with operations in the U.S., Canada, China, and Europe.
Sign up to receive Trade Ideas’ Trade of the Week every Monday with the trade details, charts, and the reason it’s chosen.
Next step: Schedule a demo or find out more about Trade Ideas LLC by calling (760) 230-0713 or visiting http://www.trade-ideas.com/professional/.
Twitter: http://twitter.com/TradeIdeas
Media Contact:
Marissa Goodbody
marissa@trade-ideas.com Reported by PRWeb 2 hours ago.
Carlsbad, CA (PRWEB) October 09, 2017
On Sunday October 1st, E*Trade Financial presented the Trade Ideas Summit 2017: The Search for the ‘Holly’ Grail—a day of speakers exploring financial technology trends. The conference was also supported by shortlist specialist brokerage, and San Diego locals, CenterPoint Securities.
In the interest of educating traders and investors globally, Trade Ideas provided a live video stream of all speakers and panels available to the public for free. Over 3,000 people streamed the conference, tripling the number of streamers from last year’s Empowering Women Investors conference.
Dave Whitmore, from E*Trade Financial opened the program with enlightening data from E*Trade’s Quarter 3 2017 StreetWise survey. Other speakers included CMT and author Brian Shannon, Greg Robin of Random Walk Financial (a consumer trend analytics firm), Jane Gallina (mother, author, daytrader), Michael Nauss (automated execution trader), Sean Dekmar (day trader, educator), and David Aferiat, co-founder and managing partner at Trade Ideas. Rounding out the day were two entertaining panels that added Doug Rumer (day trader, educator) and Thomas Marks of IFS Securities.
“It was good to get so many different perspectives on the market,” commented Phil Smolen, CTO of Trade Ideas. “We had a similar theme last year [at Empowering Women Investors]. Shari [Mirkin] described how anyone could get into the stock market. Stephanie [Clark Burke] described how much crazier things were ‘back in the day.’ And Jane [Gallina] filled in the middle, describing how she consistently grabs what she needs every day to make a good living from the stock market.”
Jane Gallina, who presented at last year’s conference and spoke again at this year’s Summit, remarked, “It was an honor to be able to represent women traders at the Trade Ideas Holly Summit. Each year it gets more informative and expands not only my knowledge from other great traders but the attendees as well.”
The final speaker and moderator of the second panel was David Aferiat, a co-founder and managing partner at Trade Ideas. David is excited about how this conference helps our subscribers and others, “Not only do our subscribers gain immeasurable knowledge from invited speakers, headliners, and each other in order to form a great, ongoing community, but we at Trade Ideas better understand the impact of the technology on our subscribers' market decisions as well as the impact on their lifestyle and personal achievements.”
“I’ve been working with some [of the presenters] online for years,” reflected Scott Olson, Director of Marketing at Trade Ideas, “meeting them in person and watching their presentations impressed me with how differently investors or traders can approach the markets, yet still adapt the same new tools for their distinct strategies.” You can view the complete archive of each speaker and panel of the Trade Ideas Summit 2017 here(https://www.trade-ideas.com/hollysummit).
To learn more about how the technology Trade Ideas is bringing to market can help you, sign up for the free Trade of the Week newsletter (https://www.trade-ideas.com/free). You’ll receive an AI derived trade idea each week and invitations to exclusive events.
About Trade Ideas LLC
Trade Ideas creates actionable market intelligence for institutions, advisors, and self-directed investors to make consistently informed decisions mitigating risk and capturing alpha. As a SaaS Fintech innovator for over 13 years, Trade Ideas leverages algorithms derived from recursive, Machine Learning, Artificial Intelligence to develop trade plans and produce statistically tested, optimized performance results. Trade Ideas' inputs include Big Data sets from U.S. and Canadian market feeds, technical, fundamental, and non-structured data sets such as news and social media. Trade Ideas' client base is from around the world totaling more than 8,000 with operations in the U.S., Canada, China, and Europe.
Sign up to receive Trade Ideas’ Trade of the Week every Monday with the trade details, charts, and the reason it’s chosen.
Next step: Schedule a demo or find out more about Trade Ideas LLC by calling (760) 230-0713 or visiting http://www.trade-ideas.com/professional/.
Twitter: http://twitter.com/TradeIdeas
Media Contact:
Marissa Goodbody
marissa@trade-ideas.com Reported by PRWeb 2 hours ago.
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FCM Named Leading Travel Management Company for Europe at World Travel Awards – 9th year running
FCM Travel Solutions, the flagship business travel division of Flight Centre Travel Group, has been named Leading Travel Management Company for Europe for the ninth consecutive year at the prestigious World Travel Awards.
(PRWEB UK) 9 October 2017
FCM Travel Solutions, the flagship business travel division of Flight Centre Travel Group, has been named Leading Travel Management Company for Europe for the ninth consecutive year at the prestigious World Travel Awards.
The World Travel Awards programme celebrates its 24th anniversary this year and is acknowledged across the globe as the ultimate travel accolade. Awards are voted for by travel and tourism professionals worldwide and these accolades recognise the commitment to excellence FCM has demonstrated over the past 12 months.
Tomas Tachovsky, General Manager - Europe Network, FCM Travel Solutions commented: “We are extremely proud to win this award for another year. This is an outstanding achievement and testament to the exceptional travel management services, professionalism and value that our people provide for clients in Europe.
This year’s award is particularly significant for FCM as 2017 has been a landmark year for the travel management company. Over the last 12 months FCM has grown its equity owned footprint in Europe considerably following acquisitions by parent company Flight Centre Travel Group of Travellink Corporate in Denmark, Finland, Norway and Sweden, and Opodo Corporate in Germany which will operate under the FCM brand.
In addition, FCM has also pioneered the use of artificial intelligence and chatbot technology in the business travel management sector with the launch of Sam, a Smart Assistant for Mobile that supports business travellers with all aspects of travel via a conversational interface on their mobile device. FCM has also recently launched its next generation technology suite of interconnected business travel tools, FCM Connect that transform the business travel process.
“This is an exciting time for FCM in Europe in terms of expansion and innovation, which is part of our overall strategy to provide unique services and experiences to our client’s travellers, bookers and managers,” said Tomas Tachovsky.
ends
About FCM Travel Solutions:
FCM Travel Solutions is the flagship global travel management brand of the Flight Centre Travel Group which has expanded to become one of the world’s largest travel companies. FCM is the business travel partner of choice for large national, multinational and global corporations. Our global network spans more than 90 countries, employing over 6000 people. We are transforming the business of travel through our empowered and accountable people who deliver 24/7 service and are available either online or offline. Leveraging FCM's negotiating strength and supplier relationships in conjunction with our tailored business travel programs, our expertise delivers more for our clients where it matters most to them Reported by PRWeb 2 hours ago.
(PRWEB UK) 9 October 2017
FCM Travel Solutions, the flagship business travel division of Flight Centre Travel Group, has been named Leading Travel Management Company for Europe for the ninth consecutive year at the prestigious World Travel Awards.
The World Travel Awards programme celebrates its 24th anniversary this year and is acknowledged across the globe as the ultimate travel accolade. Awards are voted for by travel and tourism professionals worldwide and these accolades recognise the commitment to excellence FCM has demonstrated over the past 12 months.
Tomas Tachovsky, General Manager - Europe Network, FCM Travel Solutions commented: “We are extremely proud to win this award for another year. This is an outstanding achievement and testament to the exceptional travel management services, professionalism and value that our people provide for clients in Europe.
This year’s award is particularly significant for FCM as 2017 has been a landmark year for the travel management company. Over the last 12 months FCM has grown its equity owned footprint in Europe considerably following acquisitions by parent company Flight Centre Travel Group of Travellink Corporate in Denmark, Finland, Norway and Sweden, and Opodo Corporate in Germany which will operate under the FCM brand.
In addition, FCM has also pioneered the use of artificial intelligence and chatbot technology in the business travel management sector with the launch of Sam, a Smart Assistant for Mobile that supports business travellers with all aspects of travel via a conversational interface on their mobile device. FCM has also recently launched its next generation technology suite of interconnected business travel tools, FCM Connect that transform the business travel process.
“This is an exciting time for FCM in Europe in terms of expansion and innovation, which is part of our overall strategy to provide unique services and experiences to our client’s travellers, bookers and managers,” said Tomas Tachovsky.
ends
About FCM Travel Solutions:
FCM Travel Solutions is the flagship global travel management brand of the Flight Centre Travel Group which has expanded to become one of the world’s largest travel companies. FCM is the business travel partner of choice for large national, multinational and global corporations. Our global network spans more than 90 countries, employing over 6000 people. We are transforming the business of travel through our empowered and accountable people who deliver 24/7 service and are available either online or offline. Leveraging FCM's negotiating strength and supplier relationships in conjunction with our tailored business travel programs, our expertise delivers more for our clients where it matters most to them Reported by PRWeb 2 hours ago.
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Africa: 4,281 Nigerians Deported From Europe, U.S., African Countries in Mid 2017
[This Day] About 4,281 Nigerians were repatriated through various countries in Europe, the United States and even some African countries through the Murtala Muhammed International Airport (MMIA), Lagos in the first half of 2017.
Reported by allAfrica.com 2 hours ago.
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↧
Boycotted Qatar plans to raise at least $9bn through bond sale
Qatar will target investors in Asia, the US and Europe to make up for a shortfall of regional investors, the people said
Reported by Independent 2 hours ago.
↧
Malaysian Rice Bowl Startup Awards Announce National Circuit Winners
Malaysia Rice Bowl Startup Awards Kicks-Off the ASEAN Startup Awards Circuit
KUALA LUMPUR, Malaysia, Oct. 9, 2017 /PRNewswire/ -- Winners of the Malaysian Rice Bowl Startup Awards were announced today in full dazzle and display, revealing 12 national contenders that will vie for the Grand Finale of the ASEAN Rice Bowl Startup Awards 2017 (Rice Bowl) in December.The winners of the Malaysia Rice Bowl Startup Awards 2017
Over 1800 nominations were vetted and put through the Rice Bowl process of evaluation and judging. They were evaluated on three broad areas -- Growth (actual and potential), Scalability and Impact. The nominations are open to all companies established within the past five years in any ASEAN country.
*MALAYSIA RICE BOWL*
The *Startup of the Year* was awarded to Zoom, a last mile on-demand delivery specialist based on their impressive growth. Within a span of 12 months, they created an extensive technology platform to support the logistical needs of ecommerce merchants, expanded into neighbouring countries such as Indonesia, and created a unique opportunity for delivery riders to be treated and trained better.
The winners for the Malaysia Rice Bowl Startup Awards are as follows:
*Best Social Impact Startup* -- MyCash Online; *Best Smart City Solution* -- ZYQ Engineering; *Best e-Commerce/Supply Chain Startup* -- Easy Parcel; *Best Healthy Lifestyle Tech Startup* -- Koyara; *Best Lifesciences/ Medtech Startup* -- UMCH Technology; *Best Fintech Startup* -- Jirnexu; and *Best Deeptech / AI / Big Data Startup* - Glueck Technologies.
Aaron Sarma of Touristly bagged *Founder of the Year*, while the *Best Newcomer* award went to BuildEasy.
For the Ecosystem Support categories, the Malaysian Global Innovation & Creativity Centre's (MaGIC) Global Accelerator Program won *Best Accelerator Program*, and WORQ won *Best Coworking Space*.
For the Malaysian leg, two Special Awards were delivered by Lilyana Latiff, Chairman of ASEAN Rice Bowl Startup Awards, also Chief Executive Officer of New Entrepreneurs Foundation (myNEF). TERAJU received the *Best Startup Ecosystem Initiative* for their Bumiputera Entrepreneurs Startup Scheme (SUPERB); and the *Chairman's Choice Award* was given to Zepto.
"Rice Bowl in its third year has become quite a familiar name in the startup scene in the region. With the ASEAN Rice Bowl Startup Awards being the official Southeast Asia circuit for the Global Startup Awards, the brand 'Rice Bowl' has now become synonymous with being a respected platform for locally-grown startup heroes to be given the opportunity for market access, funding and media exposure," says Lilyana.
"It's a great honour to be a Rice Bowl winner." myNEF is the brand owner and principal organizer of Rice Bowl.
Circuit winners will get the opportunity to participate in cross-regional exchange programs either within ASEAN and globally; get exposure to funding opportunities via Rice Bowl's investor-matching schemes formed with its regional alliance of partners and investors; and leverage on the award's regional media network for publicity and media exposure.
Also present at the event to award Rice Bowl trophies were YM Raja Badrulnizam Raja Kamalzaman, Director of the ASEAN Unit at Matrade; Dato' Ng Wan Peng, Chief Operating Officer of Malaysia Digital Economy Corporation (MDEC); Rashdan Ramlee, president of myNEF; Khalek Awang, member of myNEF's Board of Trustees; Nazrin Hassan, Chief Executive Officer of Cradle; Juliana Jan, Chief Investment Officer of Cradle; Yusnee Rahmat Yusof, Director of ACE MaGIC; Azim Pa'wanchik, Managing Director of Alpha Catalyst Consulting; Melinda Looi, award-winning designer and owner of Mellooi Creations; and Manminder Kaur Dillon, Chief Executive Officer of Supernewsroom.
Supporters of this event include regional strategic partners to the Malaysia Rice Bowl Startup Awards: ASEAN Centre of Entrepreneurship (ACE), MaGIC; and CRADLE; and other strategic partners such as InnovAsian Space (judging platform); Melinda Looi (trophy); Supernewsroom (digital PR) and PRNewswire (official news distribution platform).
*NATIONAL CIRCUITS*
The Kuala Lumpur awards ceremony kicked off the first of 10 events to be held throughout Southeast Asian countries in October and November. Following the event in Kuala Lumpur, national circuit Rice Bowl winners from each ASEAN country will be announced in Vientiane on 16^th, Bangkok on 20^th, Jakarta on 23^rd, Manila on 25^th and Yangon on 27^th of October, as well as Singapore on 1^st, Bandar Sri Begawan on 3^rd, Ho Chi Minh on 4^th, and Cambodia on 7^th of November.
*REGIONAL CIRCUIT*
Rice Bowl national circuit winners will then compete at the regional Grand Finale of the ASEAN Rice Bowl Startup Awards 2017 which will be held on 12-13^th December in Kuala Lumpur, in conjunction with the Global Entrepreneurship Community (GEC) Summit 2017, organized by the Ministry of Finance, and supported by the Ministry of Science, Technology and Innovation, and the Ministry of Higher Education.
As a prelude to the Grand Finale, national circuit winners will be given a shot at investment via Rice Bowl investment matching sessions, seats to signature Rice Bowl discourse, as well as exposure to industry and media networking sessions during the two-day GEC Summit 2017.
*GLOBAL CIRCUIT*
Regional circuit winners from the Grand Finale of the ASEAN Rice Bowl Startup Awards 2017 will then compete on the global circuit next year, against startups in other regions at the Global Startup Awards 2018, to be held in China.
www.ricebowlawards.com
For Media Enquiries, please contact:
Ms Hani Abdullah
hani@ricebowlawards.com
+6010-2711248
New Entrepreneurs Foundation
info@ricebowlawards.com
+603 7731 4410
*About ASEAN Rice Bowl Startup Awards (Rice Bowl)
*The ASEAN Rice Bowl Startup Awards (Rice Bowl) is an exciting series of events throughout Southeast Asia that lauds exemplary talent in the startup community. Organized by New Entrepreneurs Foundation (myNEF), Rice Bowl places the spotlight on rising start-ups in the 10 ASEAN countries, with the aim of increasing the region's visibility as a vibrant startup ecosystem and global hub for innovation.
Now in its third year, Rice Bowl is also the official circuit for the annual Global Startup Awards (GSA), which provides a solid platform for Rice Bowl winners to forge ahead with their enterprise. The award's regional finale will be held in conjunction with the Global Entrepreneurship Community Summit in Kuala Lumpur on 13^th December 2017.
www.ricebowlawards.com
*About New Entrepreneurs Foundation
*New Entrepreneurs Foundation (myNEF) is a non-profit organization established in 2012 that focuses on creating and developing sustainable entrepreneurs via strategic developmental programs. myNEF signature programs include BAHTERA 2015, SUPERBXCEL, COMICXCEL, Online Business Financing (OBF) and ASEAN Rice Bowl Startup Awards. myNEF plays an instrumental role in bridging industry players with the Government and related agencies, both locally and in the Southeast Asian region.
www.mynef.com
*About Global Entrepreneurship Community (GEC) Summit 2017
*Global Entrepreneurship Community Summit (GECommunity Summit) brings forth ecosystem influencers, startup communities and industry leaders from across the globe to collaborate and find new innovative approaches to solve real problems and chart the way forward for entrepreneurs. The global summit is initiated by the Ministry of Finance, Malaysia (MOF) and organized by Malaysian Global Innovation & Creativity Centre (MaGIC) to empower entrepreneurs around the world with groundbreaking ideas and collaborations to solve cross-border challenges, uncover new possibilities and develop revolutionary ideas and solutions, catalyzing innovation.
www.gecommunity.co
*About Global Startup Awards
*The Global Startup Awards was established in Denmark in 2012 with two major goals. Firstly, to connect, support, and celebrate key players in national and regional startup ecosystems worldwide. Secondly, to fuse them together on a global entrepreneurial network, creating a matrix of opportunities for international partnerships and commercial exchange.
GSA began as a way of recognising entrepreneurs within the Nordic region. It is now annually celebrated through 26 countries and across 4 regions: Nordic, Central Europe, Southeast Asia and South Asia. Soon to join are Southern Europe, South America and the Baltics. Global Startup Awards has become a vehicle for countries to recognise and showcase their own entrepreneurial talents, powering their local startup ecosystems further.
The ASEAN Rice Bowl Startup Awards (Rice Bowl) is the official Southeast Asia circuit for GSA.
www.globalstartupawards.com
Photo - https://photos.prnasia.com/prnh/20171009/1961294-1 Reported by PR Newswire Asia 2 hours ago.
KUALA LUMPUR, Malaysia, Oct. 9, 2017 /PRNewswire/ -- Winners of the Malaysian Rice Bowl Startup Awards were announced today in full dazzle and display, revealing 12 national contenders that will vie for the Grand Finale of the ASEAN Rice Bowl Startup Awards 2017 (Rice Bowl) in December.The winners of the Malaysia Rice Bowl Startup Awards 2017
Over 1800 nominations were vetted and put through the Rice Bowl process of evaluation and judging. They were evaluated on three broad areas -- Growth (actual and potential), Scalability and Impact. The nominations are open to all companies established within the past five years in any ASEAN country.
*MALAYSIA RICE BOWL*
The *Startup of the Year* was awarded to Zoom, a last mile on-demand delivery specialist based on their impressive growth. Within a span of 12 months, they created an extensive technology platform to support the logistical needs of ecommerce merchants, expanded into neighbouring countries such as Indonesia, and created a unique opportunity for delivery riders to be treated and trained better.
The winners for the Malaysia Rice Bowl Startup Awards are as follows:
*Best Social Impact Startup* -- MyCash Online; *Best Smart City Solution* -- ZYQ Engineering; *Best e-Commerce/Supply Chain Startup* -- Easy Parcel; *Best Healthy Lifestyle Tech Startup* -- Koyara; *Best Lifesciences/ Medtech Startup* -- UMCH Technology; *Best Fintech Startup* -- Jirnexu; and *Best Deeptech / AI / Big Data Startup* - Glueck Technologies.
Aaron Sarma of Touristly bagged *Founder of the Year*, while the *Best Newcomer* award went to BuildEasy.
For the Ecosystem Support categories, the Malaysian Global Innovation & Creativity Centre's (MaGIC) Global Accelerator Program won *Best Accelerator Program*, and WORQ won *Best Coworking Space*.
For the Malaysian leg, two Special Awards were delivered by Lilyana Latiff, Chairman of ASEAN Rice Bowl Startup Awards, also Chief Executive Officer of New Entrepreneurs Foundation (myNEF). TERAJU received the *Best Startup Ecosystem Initiative* for their Bumiputera Entrepreneurs Startup Scheme (SUPERB); and the *Chairman's Choice Award* was given to Zepto.
"Rice Bowl in its third year has become quite a familiar name in the startup scene in the region. With the ASEAN Rice Bowl Startup Awards being the official Southeast Asia circuit for the Global Startup Awards, the brand 'Rice Bowl' has now become synonymous with being a respected platform for locally-grown startup heroes to be given the opportunity for market access, funding and media exposure," says Lilyana.
"It's a great honour to be a Rice Bowl winner." myNEF is the brand owner and principal organizer of Rice Bowl.
Circuit winners will get the opportunity to participate in cross-regional exchange programs either within ASEAN and globally; get exposure to funding opportunities via Rice Bowl's investor-matching schemes formed with its regional alliance of partners and investors; and leverage on the award's regional media network for publicity and media exposure.
Also present at the event to award Rice Bowl trophies were YM Raja Badrulnizam Raja Kamalzaman, Director of the ASEAN Unit at Matrade; Dato' Ng Wan Peng, Chief Operating Officer of Malaysia Digital Economy Corporation (MDEC); Rashdan Ramlee, president of myNEF; Khalek Awang, member of myNEF's Board of Trustees; Nazrin Hassan, Chief Executive Officer of Cradle; Juliana Jan, Chief Investment Officer of Cradle; Yusnee Rahmat Yusof, Director of ACE MaGIC; Azim Pa'wanchik, Managing Director of Alpha Catalyst Consulting; Melinda Looi, award-winning designer and owner of Mellooi Creations; and Manminder Kaur Dillon, Chief Executive Officer of Supernewsroom.
Supporters of this event include regional strategic partners to the Malaysia Rice Bowl Startup Awards: ASEAN Centre of Entrepreneurship (ACE), MaGIC; and CRADLE; and other strategic partners such as InnovAsian Space (judging platform); Melinda Looi (trophy); Supernewsroom (digital PR) and PRNewswire (official news distribution platform).
*NATIONAL CIRCUITS*
The Kuala Lumpur awards ceremony kicked off the first of 10 events to be held throughout Southeast Asian countries in October and November. Following the event in Kuala Lumpur, national circuit Rice Bowl winners from each ASEAN country will be announced in Vientiane on 16^th, Bangkok on 20^th, Jakarta on 23^rd, Manila on 25^th and Yangon on 27^th of October, as well as Singapore on 1^st, Bandar Sri Begawan on 3^rd, Ho Chi Minh on 4^th, and Cambodia on 7^th of November.
*REGIONAL CIRCUIT*
Rice Bowl national circuit winners will then compete at the regional Grand Finale of the ASEAN Rice Bowl Startup Awards 2017 which will be held on 12-13^th December in Kuala Lumpur, in conjunction with the Global Entrepreneurship Community (GEC) Summit 2017, organized by the Ministry of Finance, and supported by the Ministry of Science, Technology and Innovation, and the Ministry of Higher Education.
As a prelude to the Grand Finale, national circuit winners will be given a shot at investment via Rice Bowl investment matching sessions, seats to signature Rice Bowl discourse, as well as exposure to industry and media networking sessions during the two-day GEC Summit 2017.
*GLOBAL CIRCUIT*
Regional circuit winners from the Grand Finale of the ASEAN Rice Bowl Startup Awards 2017 will then compete on the global circuit next year, against startups in other regions at the Global Startup Awards 2018, to be held in China.
www.ricebowlawards.com
For Media Enquiries, please contact:
Ms Hani Abdullah
hani@ricebowlawards.com
+6010-2711248
New Entrepreneurs Foundation
info@ricebowlawards.com
+603 7731 4410
*About ASEAN Rice Bowl Startup Awards (Rice Bowl)
*The ASEAN Rice Bowl Startup Awards (Rice Bowl) is an exciting series of events throughout Southeast Asia that lauds exemplary talent in the startup community. Organized by New Entrepreneurs Foundation (myNEF), Rice Bowl places the spotlight on rising start-ups in the 10 ASEAN countries, with the aim of increasing the region's visibility as a vibrant startup ecosystem and global hub for innovation.
Now in its third year, Rice Bowl is also the official circuit for the annual Global Startup Awards (GSA), which provides a solid platform for Rice Bowl winners to forge ahead with their enterprise. The award's regional finale will be held in conjunction with the Global Entrepreneurship Community Summit in Kuala Lumpur on 13^th December 2017.
www.ricebowlawards.com
*About New Entrepreneurs Foundation
*New Entrepreneurs Foundation (myNEF) is a non-profit organization established in 2012 that focuses on creating and developing sustainable entrepreneurs via strategic developmental programs. myNEF signature programs include BAHTERA 2015, SUPERBXCEL, COMICXCEL, Online Business Financing (OBF) and ASEAN Rice Bowl Startup Awards. myNEF plays an instrumental role in bridging industry players with the Government and related agencies, both locally and in the Southeast Asian region.
www.mynef.com
*About Global Entrepreneurship Community (GEC) Summit 2017
*Global Entrepreneurship Community Summit (GECommunity Summit) brings forth ecosystem influencers, startup communities and industry leaders from across the globe to collaborate and find new innovative approaches to solve real problems and chart the way forward for entrepreneurs. The global summit is initiated by the Ministry of Finance, Malaysia (MOF) and organized by Malaysian Global Innovation & Creativity Centre (MaGIC) to empower entrepreneurs around the world with groundbreaking ideas and collaborations to solve cross-border challenges, uncover new possibilities and develop revolutionary ideas and solutions, catalyzing innovation.
www.gecommunity.co
*About Global Startup Awards
*The Global Startup Awards was established in Denmark in 2012 with two major goals. Firstly, to connect, support, and celebrate key players in national and regional startup ecosystems worldwide. Secondly, to fuse them together on a global entrepreneurial network, creating a matrix of opportunities for international partnerships and commercial exchange.
GSA began as a way of recognising entrepreneurs within the Nordic region. It is now annually celebrated through 26 countries and across 4 regions: Nordic, Central Europe, Southeast Asia and South Asia. Soon to join are Southern Europe, South America and the Baltics. Global Startup Awards has become a vehicle for countries to recognise and showcase their own entrepreneurial talents, powering their local startup ecosystems further.
The ASEAN Rice Bowl Startup Awards (Rice Bowl) is the official Southeast Asia circuit for GSA.
www.globalstartupawards.com
Photo - https://photos.prnasia.com/prnh/20171009/1961294-1 Reported by PR Newswire Asia 2 hours ago.
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