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Syndicate
Jul
31
On Monday founder chairman Pak-US Joint Business Council and Vice President SAARC Chamber of Commerce and Industry (SCCI), Pakistan Chapter, Iftikhar Ali Malik stated that Pakistan is an upcoming flourishing market for US with open opportunities of direct investments. For American business community Pakistan’s market is ready and open. Pakistan’s market situation is investment friendly.
According to him in Pakistan there are sufficient chances of investment by US and other foreign suppliers. Governments of Pakistan take complete guarantee sustained and sound economic policies and strict accomplishment of Intellectual Property Rights.
He predicts that it would earn better in future and grab a constant growth in key sector along with progress in its microeconomic indicators. He hopes that per capita income would also rise in coming time.
He further said that Pakistan’s geographical situation will help in immediate access to the Central Asian Republics. He added that in there country there is sufficient and comparatively affordable personnel.
Pakistan has a vast resource based industries, such as oil, gas and petrochemicals, a fast growing infrastructure sector, and other industries such as textiles, garments, software and automotive manufacture. According to Malik US Pakistan Business Council helps the American corporate sector identify opportunities in Pakistan. He added that there foreign investment policy is unlock and moderate.
Jul
31
Americo provider of the complete portfolio of competitive life insurance and annuity product signed a 15 year contract for CSC’s business process outsourcing services. Americo’s approximately 100,000 individual life and annuity insurance policies that it got after acquisition of Financial Industries Corporation would be managed by CSC.
CSC is a global leader for providing technical services. This includes Business Solution & Services, Global Outsourcing Services and the North American Public Sector. CSC’s advanced capabilities include various technology and service facilities that will smooth the complexities.
CSC was providing Americo, application management and production support services from last 16 years and this new contract would give further strength to their relation. Under new service contract CSC will provide full back office services such as end-to-end contract administration, a costumer call center, financial reporting and payment processing.
According to President of CSC Life & Annuity Insurance Division, this contract will help Americo to manage wide portfolio and large number of insurance policies that it earned through acquisitions. With the help of outsource business processes Americo would be able to calculate minimum policy number and risk factor involved therein. CSC provide BPO services worldwide and use automated process and well defined and established technology to support effective and financial services product.
Jul
31
Launch of PLEXTALK Pocket Digital Recorder/Player by Shinano Kenshi Corporation (SKC) is announced
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Shinano Kenshi’s popular and successful line of PLEXTALK(TM) healthcare and educational family of products has declared the launch of the PLEXTALK(TM) Pocket, the latest product. This product is a revolution in market as it is competent to provide ground-breaking mobility and ease of use by nearly anyone in business, education, and leisure with the help of its light weight, pocket-size, DAISY-compliant music, voice, and book player/recorder.
Its features that support unmatched accessibility for visually impaired or learning disabled and applications it offers made it world’s first true crossover media recorder/player.
Its weight is just about 3 ounces and it sized so small that it can be fit easily into breast pocket of a shirt, blouse, or jacket and listener can enjoy there music again from the point at which they left it with the help of its “bookmark” feature. Moreover listeners can enjoy audio titles from Daisy Digital Talking Books, music CDs, MP3 CDs, or audio books on CD at work, at home or at play wherever they want .A built-in superior quality microphone and speaker provides vibrant sound and volume for voice recording and playback via Plextor’s proprietary DAISY structure.
PLEXTALK(TM) products are offered completely in North America by Shinano Kenshi Corporation and/or their official distributors. This product is designed and invented to make life easier, better and self-sufficient.
Jul
31
Citi plan to grow investment banking and brokerage business in Latin America by tapping into local customers
Filed Under Finance | Leave a Comment
In the time of global financial crisis Citi is looking for expanding its investment banking and brokerage business in Latin America’s Chief economies. However at this time all the region and upcoming markets are attracting all the investors as a safeguard to there finance.
In past three quarters Citi has vanished US $17.5bn as an effect of global crisis. In Latin America Citi find four main markets that is Brazil, Chile, Peru and Colombia. According to an executive they will find sufficient chances to grow and flourish there investment banking and brokerage business by tapping into local customers and outside region customers also. And this is an exact time to tap over in Latin America market and most of big and small companies in region also wants to expand there business. According to him In Latin America there are also significant chances to grow in capital market as the advantage of its good condition. Stock market is expected to bloom in near time. Sao Paulo stock exchange is Latin America’s biggest stock exchange as stated by latest statistics from the World Federation of Exchanges followed by The Mexican and Santiago stock exchanges.
Jul
31
By 2012 LLX Logística (LLXL3), the logistics arm of Brazilian group EBX, wish to twice the capacity of Sudeste port to 50Mt and Açu port to 100Mt by 2 as stated by, LLX CEO Ricardo Antunes. Both the ports are under construction and are situated in Rio de Janeiro state.
Açu port is intended to have an opening handling capability of 26.5Mt for iron ore, 15.3Mt for coal and 11.2Mt for steel and expected to start between late 2009 and early 2010 and should start to operate first. In later its total handling capacity is expected to come up to of 100Mt as it is expected that in early 2012 it will be able to handle 63.5Mt of iron ore.
Sudeste port is planned to start operations in middle of 2011 with the higher total capacity of 25Mt iron ore compared to original plan of 15 Mt. LLS also projecting for third port plan Porto Brasil located in Sao Paulo state’s Peruíbe city but construction is yet to be started. It is also attracting interest and will have capacity for over 20Mt of iron ore, 29Mt of agricultural products, and 10Mt of fertilizers and 7.5Mt of liquid bulk.
US$2.6bn of total investment requirement that is US$3.9bn will be invested by the company directly.
Shweta Agarwal
Jul
31
21% fall in Unilever’s quarter profit
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Maker of Dove soaps, Lipton teas and Ben & Jerry’s ice cream Unilever disclosed quarter net profit down by 21% for its second quarter. The customer product company is affected by a strapping euro higher taxes and higher taxes according to reports.
Sales fell 1.4 percent to 10.4 billion euros ($16.2 billion) and company’s net profit was 909 million euros ($1.41 billion), down from 1.14 billion euros as compared to last year. The company’s net profits hurt due to currency stabilization and sustained and stable profit margins although business activities were healthy according to an executive.
According to him quarterly casual sales were up by 6.8 percent maintaining a operational margin of 13 percent but in middle time it fell down little bit as well as cost of product increased. But the profit and results are far better than what could be it in the environment of crisis. According to Unilever in Europe and North America rise in casual sales is the effect of rise in price because there actual production level has a downturn which is not a good sign for economy as a whole according to analysts because this downfall show that customers are turning to new cheaper alternative products.
According to analysts for Unilever it is necessary to cut down its profit margin to sustain in the market for this it has to invest more on its operations along with reducing prices. It has to take decision between two options which is very tough.
Jul
31
New Housing Bill would give boost to upcoming market- Weichert
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James M. Weichert, president and founder of Weichert, Realtors(R), one of the nation’s largest privately-held real estate companies proposed a tax credit for home buyers to revitalize the slowing housing market at the start of the year before congress. There as a discussion to take some step to boost up turn downed market.
New Housing Bill includes some necessary measures that are vital for stimulate the market condition. Weichert appraise congress and the President to take quick steps to reveal the economy. , Weichert’s proposal has become policy as the Housing and Economic Recovery Act of 2008 was signed in to law just after 6 months of his proposal.
Housing market is one of the major and fundamental sectors of entire economy. The Housing and Economic Recovery Act is expected to strengthen the housing market. The bill includes incentives and new opportunities for homebuyers.
To maximize the buyer’s purchasing ability in high price market the bill provide tax-credit of $7,500 for first time buyer along with permanently raising loan limits.
According to him now it become easier for the first time buyer to buy there first home with the help of new legislature and to choose from the large supply of houses in reasonable prices as compared to last years. With the help of new tax credit limit it would be hard to push back oneself to buy first home. The new legislation also speaks to a number of issues that have hindered the mortgage industry for the past year and in turn had a negative impact on housing.
According to him all of these steps and initiatives will help in the recovery of housing market.
Shweta Agarwal
Jul
31
Profit and share rise in Reynolds American
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On Wednesday the tobacco company Reynolds American Inc announced quarterly profits which is high above the expectations along with more than 5percent rise in its share because turn down in its U.S. cigarette shipment is slowed.
More new consumer moved toward its Grizzly brand as compared to its competitors because of there relatively high prices as a result Reynolds’ smokeless tobacco segment take advantage. Although increased cigarette prices also helped the company to maximize its profits.
Company’s Camel and Pall Mall Brands are strong in market as they got majority of its marketing support in the cigarette business segment. On the other hand Kool become constant. Brands which do not get enough marketing support could not perform well in market share.
According to an analyst it was quite a good performance in its cigarette shipments as 12 percent volume deficit was predicted which was only 8 percent in reality. Higher prices and reduction in cost compensated 8 percent fall in cigarette shipped to 23.9 billion cigarettes.
Since 1981 the cigarette Manufacturers had to face any restrictions in U.S as smoking in public place is banned and more and more advertisments flow in the market regarding the awareness in this behalf. Although there where some marketing restrictions also since 1998.
Higher cigarette prices and continue economic pressure on smoker did result in some growth in deep discount market share.
Apart from the entire problems profit rise in Conwood smokeless tobacco segment by approximately 5.5 percent.
Shweta Agwaral
Jul
31
Jump in British Airway’s shares
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After the announcement of possible merger of British Airways and Spanish airline Iberia there is an unseen rise in BA’s share in last few days. Shares in the British airways were up 4.1% to 258.75p as this merger is supposed to be great move for airline industry according to analysts. German air carrier Lufthansa also believed that merger would ultimately give benefit to entire airline industry.
These two airlines already hold share in each other, function under a marketing coalition and have a merger decision after 10 year’s cooperative relation in the past. Chief executive of British Airways earlier stated that merger should have done earlier. According to him combined balance sheet projected synergies and network fit between the airlines that make the merger beneficial suggestion in the current economic environment.
Analysts are also optimistic in relation to merger and changing aviation environment. If the oil rates remain constant and take a downturn in near time BA would be able to achieve high saving by reducing admin and management operations after merger but it is not going to minimize flying staff members.
British Airways released its first-Iberia quarter results on Friday. Now this merger is expected to give a jump in shares also.
Shweta Agwarwal
Jul
31
Investment announcement in Green Technology by Bank of America
Filed Under Investing | Leave a Comment
Bank of America one of the world’s largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full variety of banking, investing, asset management and other financial and risk-management products and services publicize a strategic investment in Philadelphia-based technology and services company Field Diagnostic Services, Inc. (FDSI). With the help of this ground-breaking heating and cooling service technologies, bank hope to minimize more than 50% of its energy costs and carbon footprints compared to traditional service technique.
Investment announcement is done as the part of a 10 year environmentally commitment made by bank of around $20 billion to get continuity in its operation along with the help of its lending, investment new enhanced product launch and services. Bank of America is undertaking a tactical business arrangement to flash the new environmentally sustainable market and to minimize greenhouse gas discharge.
According to a spokesperson bank’s plan to invest in FDSI in collaboration with Bank’s Corporate Workplace group would help them to emerge new technology that would in return give benefit to environment as well as to their business line as FDSI provide advanced enterprise software handheld energy efficiency diagnostic tools, and project management services.
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