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Banking - Middle East & Africa Industry News
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Banking - Middle East & Africa Industry News
Longtop Financial Technologies Limited Announces Closing of Follow-on Public Offering and Underwriters' Exercise of Over-Allotment Option (6:30:00pm Mon Nov. 23, 2009 CDT)
Shrinking Inventory, Extended Federal Tax Credit Drive Santa Clara County Housing Market (6:17:00pm Mon Nov. 23, 2009 CDT)
SAN JOSE, Calif., Nov. 23 /PRNewswire/ -- Fewer new listings, more closed sales, and dramatically decreased inventory - that's how the Santa Clara County housing market is moving from where it was a year ago. ...
The Middle East Business Jets Market Has its Cash Registers Ringing Despite the Economic Downturn, Observes Frost & Sullivan (6:09:00pm Mon Nov. 23, 2009 CDT)
DUBAI, U.A.E., Nov. 23 /PRNewswire/ -- Despite the global economic slowdown that adversely affected the commercial aviation industry worldwide, the Middle East has been one of the few markets to register growth. The air taxi business is expected to be a major driver for this market. ...
BlueHippo Files for Emergency Bankruptcy Protection (5:44:00pm Mon Nov. 23, 2009 CDT)
BALTIMORE, Nov. 23 /PRNewswire/ -- BlueHippo Funding, LLC, a direct response marketing company, announced today that it has filed for Chapter 11 bankruptcy. The move was precipitated by a surprise action from its payment processor's bank, First Region's Bank, which without warning froze funds that belonged to BlueHippo. ...
Colombian National Pleads Guilty to Role in Defrauding the Export-Import Bank of the United States of More Than $1 Million (5:28:00pm Mon Nov. 23, 2009 CDT)
WASHINGTON, Nov. 23 /PRNewswire-USNewswire/ -- Febe Durango-Rueda, 52, a Colombian national, pleaded guilty on Nov. 20, 2009, to participating in a scheme to defraud the Export-Import Bank of the United States (Ex-Im Bank) of more than $1 million, announced Assistant Attorney General of the Criminal Division Lanny A. Breuer and Acting Inspector General Osvaldo L. Gratacos of the Ex-Im Bank, Office of the Inspector General. ...
Dean Foods Company Chairman and CEO Completes Previously Disclosed Forward Sale Agreement (5:27:00pm Mon Nov. 23, 2009 CDT)
DALLAS, Nov. 23 /PRNewswire-FirstCall/ -- Dean Foods Company (NYSE: DF) today announced that the previously disclosed variable prepaid forward sale contract entered into between Gregg Engles, Chairman and CEO and an unaffiliated third party on November 21, 2008 has partially settled. The contract obligates Engles to deliver up to 950,000 shares of Dean Foods common stock over a four day settlement cycle running from November 19, through November 24, 2009. Engles initially pledged 950,000 shares of Dean Foods common stock to secure his obligations under the contract, but retained ownership rights in those shares. Based on the closing prices through November 23, 2009, Engles expects to retain approximately 127,000 shares of common stock pledged, and deliver the balance, or approximately 823,000 shares of common stock, to the purchaser in settlement of his contractual obligations. In exchange for assuming this obligation, Engles received a cash payment of $11,138,568 in November, 2008. Pledged shares in excess of the aggregate number delivered will be released from any obligation to the purchaser and returned to Engles. ...
Choice Hotels International to Present at the FBR Capital Markets Fall Investor Conference on December 1, 2009 (5:14:00pm Mon Nov. 23, 2009 CDT)
SILVER SPRING, Md., Nov. 23 /PRNewswire-FirstCall/ -- Choice Hotels International, Inc. (NYSE: CHH) today announced that it will be presenting at the FBR Capital Markets 16th Annual Fall Investor Conference at 1:35 PM EST on Tuesday, December 1, 2009 in New York City. Stephen P. Joyce, president and chief executive officer, will be addressing participants at the event. ...
J.C. Flowers & Co. Strengthens Presence In Europe and Asia Pacific With Two Senior Appointments (5:11:00pm Mon Nov. 23, 2009 CDT)
NEW YORK, Nov. 23 /PRNewswire/ -- J.C. Flowers & Co. (JCF) today announces a significant strengthening of its operations with two senior appointments to its London office. Dr. David Morgan has been appointed Managing Director, JCF Europe and Asia Pacific, and Sir Callum McCarthy has been appointed to the newly-created post of Chairman, JCF Europe. ...
The Conference Board(R) Australia Business Cycle Indicators(SM) (5:00:00pm Mon Nov. 23, 2009 CDT)
NEW YORK, Nov. 23 /PRNewswire/ -- The Conference Board Leading Economic Index(TM) (LEI) for Australia increased 0.3 percent and The Conference Board Coincident Economic Index(TM) (CEI) increased 0.1 percent in September. ...
MassMutual Funds Crowned 'Category Kings' by The Wall Street Journal (4:53:00pm Mon Nov. 23, 2009 CDT)
SPRINGFIELD, Mass., Nov. 23 /PRNewswire/ -- For the months of August and October 2009, four different MassMutual Funds available through MassMutual's SmartArchitecture(SM) Investment Program have been crowned "Category Kings" by The Wall Street Journal. The MassMutual Funds feature a subadvised structure, in which MassMutual serves as the investment advisor and exercises the flexibility to select from some of the industry's best available asset managers, who handle the day-to-day portfolio management of each MassMutual Fund. The Wall Street Journal's Category Kings recognizes funds ranked in the top 10 of their respective Lipper(1) mutual fund categories, ranked by year-to-date total returns* (changes in net asset values with reinvested distributions) as of month-end.(2) ...
Quiznos and Franchisees Reach Settlement of Multiple Class Action Lawsuits (4:39:00pm Mon Nov. 23, 2009 CDT)
CHICAGO, Nov. 23 /PRNewswire/ -- U.S. District Court Judge Rebecca Pallmeyer has preliminarily approved a settlement of four franchisee class action lawsuits filed against the Quiznos Franchise Company and others. The cases in Colorado, Wisconsin and Illinois, the earliest of which has been pending since 2006, allege violations of various state and federal laws in connection with the sale and operation of Quiznos franchises. Quiznos denied all claims, and the settlement agreement involves no finding or admission of liability. ...
ChinaEdu Reports Third Quarter 2009 Results (4:00:00pm Mon Nov. 23, 2009 CDT)
ChinaEdu Corporation (Nasdaq: CEDU) ("ChinaEdu" or the "Company"), an
educational services provider in
'mktg, inc.' Receives Notification of Non-Compliance With Nasdaq Listing Rules. (4:00:00pm Mon Nov. 23, 2009 CDT)
NEW YORK, Nov. 23 /PRNewswire-FirstCall/ -- 'mktg, inc.' (Nasdaq: CMKG), an alternative marketing and media communications agency, today reported that on November 19, 2009 it received a letter from The Nasdaq Stock Market notifying it that the Company is not in compliance with the requirements for continued listing set forth in Nasdaq Listing Rule 5250(c)(1) because of the Company's failure to timely file its Quarterly Report on Form 10-Q for the period ended September 30, 2009. ...
MAK Capital to Seek Consent of Agilysys, Inc.; Shareholders to Increase Position in Company (3:55:00pm Mon Nov. 23, 2009 CDT)
NEW YORK, Nov. 23 /PRNewswire/ -- MAK Capital Fund LP and Paloma International L.P., the parent of Sunrise Partners Limited Partnership, and other related entities (collectively, the "MAK Group"), that collectively own approximately 19.2% of the shares of Agilysys, Inc. ("Agilysys" or the "Company") (NasdaqGS: AGYS), filed a preliminary proxy statement with the Securities and Exchange Commission today. The MAK Group intends to solicit proxies in connection with the special meeting of the Agilysys shareholders to be held on January 5, 2010 at the Company's principal executive offices at 28925 Fountain Parkway, Solon, Ohio 44139. At the special meeting, the Agilysys shareholders will be asked to authorize the MAK Group to acquire additional shares of Agilysys to increase their stake in the Company to 20% or more but less than 33 1/3% under Ohio law. The Company has announced that shareholders of record on November 24, 2009 will be entitled to vote at the meeting. ...
Pardee Resources Company: Acquisition of Colorado Coal Reserves (3:51:00pm Mon Nov. 23, 2009 CDT)
PHILADELPHIA, Nov. 23 /PRNewswire/ -- Pardee Resources Company is pleased to announce that on Friday, November 20, 2009, the Company closed on a $26.68 million acquisition of a 50% interest in approximately 19 million tons of coal reserves located in the northwestern Colorado coal producing basin. The coal reserves are currently leased, permitted, and in production in one of the basin's most efficient, long-wall underground mining operations. We expect the reserves to be fully mined over the next 3 1/2 years, during which time the acquisition is expected to be significantly accretive to earnings. This investment represents the Company's first coal investment outside the Central Appalachian basin, thereby helping to diversify the sources of our future coal revenues. The acquisition was financed through $20.68 million in cash and $6 million in bank debt. ...
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