Monday, October 31, 2016

DePuy Synthes Addresses Clinical Demand to Reduce the Incidence of Implant Related Infections with Expert Tibial Nail PROtect

 The only intramedullary nail with a resorbable antibiotic coating on the market today.

SOLOTHURN, Switzerland - Monday, October 31st 2016 [ME NewsWire]

Developed to deliver targeted protection against bacterial colonization.

(BUSINESS WIRE)-- DePuy Synthes, part of the Johnson & Johnson Family of Companies, today announced the availability of Expert Tibial Nail PROtect, the only tibial nail with a resorbable antibiotic coating designed to provide additional protection from bacterial colonization for patients who are at high risk of infection. Infection following fracture fixation is recognised as an increasingly important clinical problem, and can result in prolonged treatment, impaired fracture healing and in some cases, for example people with diabetes, may result in limb amputation1–3.

Designed in collaboration with leading AO surgeons, Expert Tibial Nail PROtect addresses a growing clinical demand to reduce the incidence of implant related infections. Infection can occur in up to 14.4% of all open tibia fractures treated with intramedullary nailing (without an antibacterial coating)6. Open tibial shaft fractures are often associated with a high incidence of complications, due to the precarious blood supply to the tibia, the high risk of infection and the necessity of rapid surgical intervention4.

“Infection following fracture fixation is one of the most severe problems we face in daily practice, with potentially devastating consequences for the patient,” said Prof. Dr. med Michael Raschke*, Clinical Director, University of Muenster, Germany. “A biofilm can form on an implant within 12–18 hours post-surgery which may trigger an infection5.”

“Expert Tibial Nail PROtect provides me with an additional tool to help reduce infection rates and benefit my patients’ outcomes,” concluded Prof. Dr. med. Gerhard Schmidmaier*, Head of Trauma Department, Heidelberg University Hospital, Germany.

Adding locally administered antibiotics to general prophylactic antibiotics has been shown to reduce the infection rate for patients with severe fractures from 14.4% to 2.4%6. Expert Tibial Nail PROtect offers a treatment option developed to deliver targeted protection and prevent a bacterial biofilm forming on the implant thus decreasing the risk of infection.

“By adding the PROtect coating to the existing Expert Tibial Nail, we are providing surgeons with the technology to address their highest risk trauma patients,” said Elmar Zurbriggen, DePuy Synthes Franchise Lead for Europe, Middle East and Africa. “By preventing bacterial colonization on the implant surface, we hope that patients will experience an improved recovery process while reducing the need for additional treatment costs for healthcare providers.”

The Expert Tibial Nail’s use in tibia fracture repair, demonstrates improved patient outcomes, which is why it was selected for application of the PROtect antibiotic coating7. The design of Expert Tibial Nail itself has been shown to reduce operating time, hospital stay, full weight bearing time and union time8.

Clinical experience has provided evidence to support the benefits of using Expert Tibial Nail PROtect. It demonstrates the performance and safety of the PROtect coating with intramedullary nails9–12. Studies have reported no deep infections9–12, and treatment costs for patients with an infection following a tibia fracture were shown to be up to 3.5 times higher compared to those for patients with no infection15. These are attributed to the additional surgery required to manage the infection (e.g. implant removal, bone grafting, amputation) and the prolonged hospital stay as well as readmissions and treatment in the intensive care unit for patients with an infection.

- Ends –

About DePuy Synthes Companies

DePuy Synthes Companies, part of the Johnson & Johnson Family of Companies, provides one of the most comprehensive portfolios of orthopaedic solutions in the world. DePuy Synthes Companies solutions, in specialties including joint reconstruction, trauma, neurological, craniomaxillofacial, spinal surgery and sports medicine, are designed to advance patient care while delivering clinical and economic value to health care systems worldwide. For more information, visit www.depuysynthes.com.

* Prof. Dr. med Michael Raschke and Prof. Dr. med. Gerhard Schmidmaier are paid consultants to DePuy Synthes and design surgeons of the Expert Tibial Nail PROtect.

DePuy Synthes, part of the Johnson & Johnson Family of Companies

All rights reserved.

___________________________

References

1. Infection. AO Foundation, 2012. (Accessed 24 July 2016) https://www2.aofoundation.org/wps/portal/surgery?showPage=redfix&bone=Tibia&segment=Shaft&classification=42-Special%20considerations&treatment=&method=Special%20considerations&implantstype=Complications&approach=&redfix_url=1341319024234

2. Hannigan GD, Pulos N, Grice EA, Mehta S. Current Concepts and Ongoing Research in the Prevention and Treatment of Open Fracture Infections. Advances in wound care 2015;4:59-74.

3. Mouzopoulos G, Kanakaris NK, Kontakis G, Obakponovwe O, Townsend R, Giannoudis PV. Management of bone infections in adults: the surgeon's and microbiologist's perspectives. Injury 2011;42 Suppl 5:S18-23.

4. McHugh SM, Collins CJ, Corrigan MA, Hill AD, Humphreys H. The role of topical antibiotics used as prophylaxis in surgical site infection prevention. The Journal of Antimicrobial Chemotherapy 2011;66:693-701.

5. Romano CL, Scarponi S, Gallazzi E, Romano D, Drago L. Antibacterial coating of implants in orthopaedics and trauma: a classification proposal in an evolving panorama. Journal of Orthopaedic Surgery and Research 2015;10:157.

6. Craig J, Fuchs T, Jenks M, et al. Systematic review and meta-analysis of the additional benefit of local prophylactic antibiotic therapy for infection rates in open tibia fractures treated with intramedullary nailing. International orthopaedics 2014;38:1025-30.

7. Attal R, Hansen M, Kirjavainen M, Bail H, Hammer TO, Rosenberger R, Höntzsch D, Rommens PM (2012) A multicentre case series of tibia fractures treated with the Expert Tibia Nail (ETN). Arch Orthop Trauma Surg 132(7):975-84.

8. Li Y, Liu L, Tang X, Pei F, Wang G, Fang Y, Zhang H, Crook N (2012) Comparison of low, multidirectional locked nailing and plating in the treatment of distal tibial metaphyseal fractures. Int Orthop 36(7):1457-62.

9. Raschke MJ, Rosslenbroich, S.B., Fuchs, T.F. Gentamicin-coated Tibia Nails: Can We Afford NOT to Use Them? Techniques in Orthopaedics 2014;29:62-8.

10. Fuchs T, Stange R, Schmidmaier G, Raschke MJ. The use of gentamicin-coated nails in the tibia: preliminary results of a prospective study. Archives of orthopaedic and trauma surgery 2011;131:1419-25.

11. Raschke M, Vordemvenne T, Fuchs T. Limb salvage or amputation? The use of a gentamicin coated nail in a severe, grade IIIc tibia fracture. European journal of trauma and emergency surgery : official publication of the European Trauma Society 2010;36:605-8.

12. Metsemakers WJ, Reul M, Nijs S. The use of gentamicin-coated nails in complex open tibia fracture and revision cases: A retrospective analysis of a single centre case series and review of the literature. Injury 2015;46:2433-7.

13. DePuy Synthes Trauma adoSG. Resource Utilization and Costs of Patients with Tibia Fractures and Related Infections. Data on File. 2016.    

Contacts

DePuy Synthes

Jennifer Holden

Sr. Manager, Communications

jholden2@its.jnj.com









Permalink: http://www.me-newswire.net/news/18958/en

Global Hedge Funds, Venture Capitalists and Private Equity Firms Converge on Dubai for AIM Summit 2016

Sovereign Wealth Funds and GCC Investors Shifting to “Endowment Model”; with Increasing Dependence on Hedge Funds, Private Equity and Venture Capital

Dubai, United Arab Emirates - Wednesday, October 26th 2016 [ME NewsWire]

The St. Regis Hotel in Al Habtoor City opens its doors on November 1st to one of the region’s most exclusive audiences, restricted to CEOs, CIOs and senior decision makers collectively managing an estimated 10 trillion dollars in assets or more. The region’s largest event for hedge funds, private equity and venture capital is set to convene 400 major institutional investors and family offices with some of the world’s best fund managers. AIM Summit is proud to welcome preeminent figures in alternative investments to discuss the changing dynamics of GCC asset allocation in the “New Oil Normal” and an era of low financial market returns.

“The ‘New Oil Normal’ is leading to a transformation of the economies of the oil and capital exporters of the Middle East. Governments are facing the twin challenges of budget and current account deficits, while undertaking structural reforms aiming to diversify their economies, their sources of revenue and diversify their exports to reduce dependence on energy,” comments Dr. Nasser Saidi, founder and president of Nasser Saidi & Associates,

 “New fiscal regimes and taxation will be part of the landscape and sovereign wealth funds can no longer plan on a steady inflow of funds from government surpluses dictating a shift in investment strategies and a greater focus on supporting government economic diversification policies.”

With oil revenues at low levels, governments in oil rich countries with large sovereign wealth funds must increasingly rely on investment returns generated from their accumulated reserves to support widening fiscal deficits. Preserving real value for future generations while drawing on financial reserves is forcing these investors to shift to the “Endowment Model” of portfolio allocation, similar to the strategies employed by Harvard, Yale and other large University Endowments. Endowment Funds rely heavily – in some cases almost entirely – on Hedge Funds, Private Equity and other “Alternative Investments” to generate high returns and manage the competing forces of high expenditure requirements and preservation of intergenerational equity.

Challenges for Alternative Investment Managers in a Low Return Environment

While the region’s investors search for higher returns from Alternative Investments, investment managers find them increasingly hard to find in an era of low yields, high valuations and diminishing risk premia. These investment managers also face increasing regulatory requirements and higher barriers to entry, increasing the cost of managing funds while investors demand lower fees. Leading hedge fund managers and private equity houses at AIM Summit discuss “New Alternative” strategies for generating excess return or “Alpha” for their investors.

Dalma Capital, the lead supporter of AIM Summit, is at the centre of the New Alternative. “We are a platform for hedge funds, private equity firms, venture capitalists and investors – we provide a unique combination of services to help investors and fund managers connect to identify, extract and maximize Alpha.” says Zachary Cefaratti – Senior Executive Officer of Dalma Capital Management, “Alpha erosion is natural as markets tend towards efficiency – our model has been designed to make alpha generation by hedge funds and private equity firms more efficient, nimbler and less capital intensive without compromising the robust operational and regulatory infrastructure sophisticated investors demand.”

Risks and returns in an asset-inflated world: challenges and opportunities

Gary Dugan, CIO of Emirates NBD, paints the background at the conference with a global economic and market outlook, “As I look into 2017 it appears to me that the global economy and financial markets will be facing a still challenging time with the risk that some of the structural imbalances unwind in a disorderly manner.”

Robert E. Kiernan III, CEO of Advanced Portfolio Management, considers global macroeconomic and market conditions and concludes that, while risks abound and most assets are fully-priced to over-priced, there are multiple attractive and exploitable investment opportunities with short, medium, and long-term return horizons.

“While markets have misinterpreted and overreacted to a panoply of data since the beginning of the year – more often than not reading everything from the latest Chinese NPL numbers to crude inventory statistics as a harbinger of the next 2008 – well-conceived investment themes with sufficient conviction to hold through some of the markets more cathartic convulsions to have produced strong risk-adjusted returns.  This is not to dismiss the real potential risks looming on the horizon, but rather to advocate investment themes that are conceived and constructed with greater sobriety and discipline.”

Ben Hunt, Chief Investment Strategist of Salient and author of Epsilon Theory, adds "Just as in the 1930s, we are moving from policy-driven markets to policy-controlled markets. Alternative investment strategies, properly conceived, can help navigate this transition." 

AIM Summit Awards - Recognizing Excellence in Fund Management and Service

For the first time since its inception, AIM Summit this year will recognize leading hedge funds with the AIM Summit Awards, judged by a panel of industry veterans representing sovereign wealth funds, funds of funds, asset managers and hedge fund consultants. “We are delighted to recognize industry leaders and innovators at our Sharpe Soirée gala” comments Luka Stimac, Managing Director of AIM Summit, “It is an honour to work with some of the world’s most sophisticated investors and brightest minds to identify the best of the best in hedge fund management.”

AIM Summit Partners

The AIM Summit Dubai 2016 is organized in partnership with the Alternative Investment Management Association (AIMA), the global representative of the alternative investment industry. AIM Summit is made possible by generous support from the event sponsors, including Dalma Capital Management Limited, SHUAA Capital, Dubai International Financial Centre (DIFC), ADS Securities, Fundana Asset Management, PAAMCO, FXTM, ISAM, Factset, Eze Software Group, Fund Base, EY, Aventicum Capital Management, Societe Generale Corporate & Investment Banking, Apex Fund Services and FWU Dubai Services, McLaren, Franck Muller and Fundbase. Media partners for AIM Summit include The Hedge Fund Journal, CAIA Association, Preqin, Amwal, Fintrx, MENA Private Equity Association, Egyptian Private Equity Association (EPEA), Wall Street Oasis, Barclayhedge, Middle East Business Review, Global Banking & Finance Review, Hedge Fund Alert, Hedge Connection, The Wealth Journal and Eurekahedge. The travel partner for the AIM Summit is Emirates Airlines.

Contacts

AIM Summit

Luka Stimac, +9714-427-8772

luka.stimac@aisummit.org









Permalink: http://me-newswire.net/news/18925/en

Sunday, October 30, 2016

GSMA Elects New Board Members and Elects Sunil Bharti Mittal as Chair

GSMA Names 26-Member Board to Serve from January 2017 through December 2018; Mittal Leads GSMA Board Delegation in Meeting with Indian Prime Minister Modi

NEW DELHI - Thursday, October 27th 2016 [ME NewsWire]

(BUSINESS WIRE)-- The GSMA today announced that it has elected new members of the GSMA Board for the two-year period from January 2017 through December 2018. The GSMA Board has also elected Sunil Bharti Mittal, Founder and Chairman, Bharti Enterprises as Chair, and re-elected Mari-Noëlle Jego-Laveissiere, Executive Vice President, Innovation, Orange Group as Deputy Chair. As GSMA Chair, Mittal will oversee the strategic direction of the organisation, which represents nearly 800 of the world’s mobile operators, as well as more than 300 companies in the broader mobile ecosystem.

 “I am delighted to be elected as Chairman of the GSMA, and look forward to working closely with the rest of the Board, the GSMA leadership team and our entire membership to address the critical issues facing our industry and our customers,” said Mittal. “In a relatively brief period of time, mobile has had a transformational impact on individuals, businesses, industries and societies, contributing significantly to local economies and improving the lives of billions around the world.”

Mittal continued: “I am excited about what the next chapter holds for us, as we work to connect everyone and everything to a better future. In my new global role, I am also excited to support the ongoing mobile broadband revolution in India to boost the Government’s Digital India Program and its vision of broadband access for all.”

The first Indian to be elected as Chair of the GSMA, Mittal took over as Chairman of the International Chamber of Commerce (ICC) early this year. He also serves on the boards and councils of several reputed international bodies and think-tanks like the World Economic Forum (WEF), Telecom Board of International Telecommunication Union (ITU), the Broadband Commission, Harvard University’s Global Advisory Council - Board of Dean’s Advisors at HBS, International Advisory Panel of the Monetary Authority of Singapore and Prime Minister of Singapore’s Research, Innovation and Enterprise Council. He is also a Trustee of the Carnegie Endowment for International Peace and on the Board of Qatar Foundation Endowment.

Bharti Airtel was the host of the inaugural GSMA Mobile 360 – India event in New Delhi this week, as well as a meeting of the GSMA Board. A highlight of the week, GSMA Chair-elect Mittal led the GSMA Board delegation at a meeting with Indian Prime Minister Narendra Modi on Wednesday afternoon. In a broad-ranging discussion, the meeting highlighted the pivotal role of mobile in delivering the government's Digital India vision of broadband as a utility for every citizen, bringing digital and financial inclusion to every corner of the country.

GSMA Board Members for the 2017-2018 Term

The GSMA Board has 26 members, including 25 operator representatives from the world’s largest operator groups as well as smaller, independent operators with global representation. The GSMA’s Director General Mats Granryd also serves on the GSMA Board. The GSMA Board for the 2017-2018 term comprises:

    Juan Carlos Archila, Executive Vice President, International Relationships, América Móvil
    Bill Hague, Executive Vice President-Global Connection Management, AT&T Mobility
    Sunil Bharti Mittal, Founder and Chairman, Bharti Enterprises
    Sha Yuejia, Executive Director and Vice President, China Mobile
    Sun Kangmin, Executive Director and Executive Vice President, China Telecom
    Lu Yimin, President and Vice Chairman, China Unicom
    Wolfgang Kopf, Senior Vice President, Public and Regulatory Affairs, Deutsche Telekom
    Hatem Dowidar, CEO International, Etisalat
    Mats Granryd, Director General, GSMA
    Christian Salbaing, Deputy Chairman, Europe, Hutchison
    Takashi Tanaka, President, KDDI
    Eelco Blok, CEO, KPN
    Chang-Gyu Hwang, Chairman and CEO, KT Corporation
    Mauricio Ramos, CEO, Millicom
    Phuthuma Nhleko, Chairman and Acting CEO, MTN Group
    Andrei Dubovskov, President, MTS
    Kazuhiro Yoshizawa, President and CEO, NTT DOCOMO
    Mari-Noëlle Jego-Laveissiere, Executive Vice President, Innovation, Orange Group
    Dong-Hyun Jang, President and CEO, SK Telecom
    Julio Linares López, Vice President of the Board, Telefoìnica
    Sigve Brekke, President and CEO, Telenor Group
    Johan Dennelind, President and CEO, Telia Company
    Kaan Terzioğlu, CEO, Turkcell
    Roy Chestnutt, Chief Strategy Officer, Verizon
    Serpil Timuray, Group Chief Commercial Operations and Strategy Officer, Vodafone
    Scott Gegenheimer, CEO, Zain Group

GSMA Chair Jon Fredrik Baksaas will step down from the Board at the end of 2016, after holding this position for the past three years. Baksaas was elected as a member of the GSMA Board in 2008.

“With nearly 4.8 billion individuals around the world subscribing to mobile services, it is the most pervasive and fast-growing platform of users ever built. It is now accessible to billions in both developing and developed markets, providing life-enhancing services and enabling new socio-economic opportunities for all,” commented Baksaas. “The mobile industry is at the very heart of the world’s digital transformation, driving efforts to make the world a better place, in support of the UN Sustainable Development Goals. It has been a true privilege to serve on the GSMA Board for eight years, the last three as Chair. I wish the new Board and Chair, Mr. Sunil Bharti Mittal, the very best of luck as the GSMA focuses on extending global platform capabilities, such as GSMA Mobile Connect, to billions of users around the globe.”



About the GSMA                    

The GSMA represents the interests of mobile operators worldwide, uniting nearly 800 operators with almost 300 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organisations in adjacent industry sectors. The GSMA also produces industry-leading events such as Mobile World Congress, Mobile World Congress Shanghai, Mobile World Congress Americas and the Mobile 360 Series of conferences.

For more information, please visit the GSMA corporate website at www.gsma.com. Follow the GSMA on Twitter: @GSMA.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20161026007062/en/

Contacts

Media Contacts:

Charlie Meredith-Hardy

+44 7917 298428

CMeredith-Hardy@webershandwick.com



or

GSMA Press Office

pressoffice@gsma.com







Permalink: http://www.me-newswire.net/news/18938/en

The AIDS Healthcare Foundation Launches a Campaign to Fight HIV Amongst Young Women and Adolescent Girls

KAMPALA, Uganda - Sunday, October 30th 2016 [ME NewsWire]

(BUSINESS WIRE)-- The AIDS Healthcare Foundation (AHF) Uganda Cares has today launched a campaign to fight HIV/AIDS amongst young women and adolescent girls aged 12-24 years.

The campaign dubbed Girls’ ACT (Awareness Campaign Tour) is largely informed by the compelling fact that young women and adolescent girls account for one in five new HIV infections in Africa and are almost three times more likely than their male counterparts to be living with HIV in sub-Saharan Africa. In Uganda alone, HIV prevalence amongst young women aged 15-24 was estimated at 4.2% compared to 2.4% for young men, in 2013! “These statistics indicate that young women and adolescent girls are disproportionately affected by HIV as compared to their male peers,” said Flavia Kiringooba, a young counsellor at AHF Uganda Cares. “This therefore means that we need to reach out to the young women in a more aggressive manner than ever before.”

Girls’ ACT, loosely translated as ‘Girls’ Kisoboka’ is a multi-institutional drive that primarily aims to; a) scale up HIV/AIDS prevention services so as to cub new HIV infections amongst this population sub-group, and b) ensure that young people living with HIV are enrolled and retained in HIV care for improved health outcomes. “In so doing, we believe that we will be able to promote positive living with dignity amongst young women and adolescent girls,” said Henry Magala, Country Program Director, AHF Uganda Cares. “Observations from clinics across the country indicate that several young people do not adhere to HIV treatment as they ought to. Through this campaign, we hope that several young people living with HIV will be empowered and encouraged to seek and stick to their medication and medical advice.”

This campaign that will take the form of a concert-like caravan expected to move from one district to another while bringing services closer to the communities will target young women and adolescent girls from all walks of life, from different socioeconomic groupings and dwellings. However, their male counterparts and the general community as key gate keepers for young girls’ protection will also benefit by accessing HIV/AIDS related information & services as well as other connect services.

“After due consultations with youth led groups and young people we came to the conclusion that we need to take HIV/AIDS services and information to where the young women and adolescent girls are, using approaches that are appealing, exciting and spark their participation,” said Alice Kayongo, Regional Policy and Advocacy Manager E/W Africa. “Majority of the girls do not visit health facilities for various reasons, and those living with HIV continue to struggle with self-esteem issues and stigma, which negatively impact their health. Therefore, if we want to get different results, we must do things differently and that is what we are doing with the GIRLS ACT.”

Working with other stakeholders we trust that the campaign will enable young women and adolescent girls have access to various services and information on HIV/AIDS, menstrual hygiene, psychosocial support, sexual reproductive health and legal aid amongst others. “It is really great to see the support that we have received from young people, the government and partners on the GIRLS ACT. The excitement from the girls is contagious and does reveal that we are doing something right,” said Dr. Penninah Iutung, AHF Africa Bureau Chief. “We plan to extend the GIRLS ACT to other regions of the country and beyond the campaign, we are working closely with partners to contribute towards the provision of necessary medical and psychosocial support for this group so as to enable them live more productive lives.”

About AHF Uganda Cares:

AHF Uganda Cares is a collaboration between the Uganda Ministry of Health and AIDS Healthcare Foundation (AHF) based in Los Angeles, USA. It is the country program affiliate of AHF, a not for profit NGO engaged in HIV service provision and advocacy.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20161029005008/en/

Contacts

AHF Uganda Cares Contact:

Henry Magala

Country Program Director

Henry.Magala@aidshealth.org

or

Alice Kayongo

Regional Policy and advocacy Manager, E/W Africa

Alice.Kayongo@aidshealth.org

or

AHF Africa media Contact:

Oluwakemi Gbadamosi

Senior Manager, PR & Communications, Africa Bureau

oluwakemi.gbadamosi@aidshealth.org









Permalink: http://me-newswire.net/news/18950/en

Saturday, October 29, 2016

AHF Africa Flags Off GIRLS ACT in Uganda, Kenya, South Africa & Nigeria for Young Women and Girls!

KAMPALA, Uganda - Saturday, October 29th 2016 [ME NewsWire]

(BUSINESS WIRE)-- Today, AIDS Healthcare Foundation, Africa Bureau, officially launched its young women and girls initiative tagged GIRLS ACT (Awareness Campaign Tour) as part of its public health campaign interventions for young women and girls aged 15-24. The campaign, which will take the form of a mobile caravan, is anchored on two objectives: preventing new HIV infections amongst those who are negative and promoting positive living with dignity amongst those who are HIV+.

“We are aware of the grim statistics and how HIV/AIDS continues to affect young women and girls disproportionately. After due consultations with youth led groups, young people and focus group discussions, we came to the conclusion that we need to take the services and information to where the young women and girls are, using approaches that are appealing, exciting and spark their participation. A majority of the girls do not visit health facilities for various reasons, and the ones who are positive continue to struggle with self-esteem issues and stigma, which negatively impacts their health. If we want to get different results, we must do things differently and that is what we are doing with the GIRLS ACT,” shared Alice Kayongo, Regional Policy and Advocacy Manager E/W Africa.

According to the Joint United Nations Program on HIV/AIDS (UNAIDS), despite progress made in HIV/AIDS response, young people, especially young women and girls continue to be overly affected by HIV. About 380,000 new HIV infections occur among young women aged 15–24 annually. In 2013, almost 60% of all new HIV infections among young people aged 15–24 occurred among adolescent girls and young women. Globally, 15% of women living with HIV are aged 15–24, and 80% of them live in sub-Saharan Africa.

"South Africa currently faces rising rates of HIV infection among adolescent girls. In fact, recent studies reveal that girls are 8 times more likely to become HIV+ than their male peers. Combined with high rates of sexual violence and poverty, this creates a perfect storm and our girls need to be empowered to act to protect themselves and their futures. Girls ACT is an initiative by AHF to create safe spaces where young people and their communities can access healthcare and education which will allow them to take charge of their sexual and reproductive health," said Larissa Klazinga, AHF Regional Policy and Advocacy Manager: Southern Africa.

As a result of the campaign, young women and girls will have access to various services and information on HIV/AIDS, menstrual hygiene, psychosocial support, sexual reproductive health and legal aid amongst others. AHF Uganda Cares will kick-start the campaign using the moniker “GIRLS KISOBOKA” in a colourful ceremony that will be attended by young people, dignitaries from both the private and public sector, members of parliament, civil society organizations, and celebrities at Bwaise-Kawempe Growers Grounds in Kampala; after which the campaign will head to Kenya, Nigeria and South Africa.

“I am beyond excited about the GIRLS ACT. This is certainly an out of the box initiative, where the caravan will move from one location to another with a team of counselors and testers to ensure that we are empowered with the right information in a safe space,” gushed Eron (an 18 year old student from Uganda).

“It is really great to see the support that we have received from young people, governments and partners on the GIRLS ACT. The excitement from the girls is contagious and does reveal that we are doing something right. We plan to extend the GIRLS ACT to other countries we support and to more locations in the first four countries. Beyond the campaign, we are working closely with partners to ensure that the girls get the necessary medical and psychosocial support to help them live more productive lives. It is my hope that more countries and organizations will take up this initiative and take the services to where the girls are,” added Dr. Penninah Iutung, AHF Africa Bureau Chief.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=51449862&lang=en

Contacts

AHF AFRICA MEDIA CONTACT:

Kemi Gbadamosi

Senior Manager, PR & Communications, Africa Bureau

+234.816.8967.217

oluwakemi.gbadamosi@aidshealth.org

or

Alice Kayongo

Regional Policy & Advocacy Manager, E/W Africa

Alice.kayongo@aidshealth.org

or

Larissa Klazinga

Regional Policy & Advocacy Manager, Southern Africa

Larissa.klazinga@aidshealth.org









Permalink: http://www.me-newswire.net/news/18948/en

Friday, October 28, 2016

Takeda Reports First Half FY2016 Results and Raises Full Year Profit Guidance

OSAKA, Japan - Friday, October 28th 2016 [ME NewsWire]

(BUSINESS WIRE)-- Takeda Pharmaceutical Company Limited (TOKYO:4502):
Strong first half results led by Growth Drivers
  • Underlying Revenue grew +7.4%, led by a +15.3% increase of Takeda's Growth Drivers
    (GI, Oncology, CNS and Emerging Markets). Reported revenue declined -5.9%, due to unfavorable currencies (-8.6pt) and the impact of divestitures (-4.7pt).
  • Underlying Core Earnings advanced +12.7% with the Core Earnings margin increasing by 0.7pt. Despite unfavorable currencies and the negative impact of divestitures, reported operating profit was up +46.7% benefiting from strong underlying growth and a one-time gain on the Teva JV transaction.
  • Underlying Core EPS was up +49.3%, reflecting strong Core Earnings growth and a lower tax rate due to timing. Reported EPS more than doubled to 159 yen, up from 69 yen in the prior year period.
  • Reported Operating Free Cash Flow was up 34.0% to 74.6 billion yen driven by continued working capital improvements.
Takeda's Growth Drivers delivered 15.3% Revenue growth
  • GI underlying revenue grew +39.4%, driven by ENTYVIO® and TAKECAB®.
  • Oncology underlying revenue grew +4.9% driven by NINLARO® and ADCETRIS®.
  • CNS underlying revenue of +28.2% was boosted by a strong TRINTELLIX® performance.
  • Emerging Markets underlying revenue growth was +4.9% with Q2 growth accelerating to +5.7%.
Underlying Revenue growth across all regions, led by continued double-digit performance in the US
  • Japan underlying revenue was up +4.1%, driven by TAKECAB®, AZILVA® and LOTRIGA®.
  • US underlying revenue growth of +15.1%, led by ENTYVIO®, NINLARO® and TRINTELLIX®.
  • Europe and Canada underlying revenue grew +4.8%, driven by ENTYVIO® and ADCETRIS®.
  • Emerging Markets underlying revenue was up +4.9%, with robust growth in the key markets of Brazil (+11.1%), China (+9.7%) and Russia (+8.4%).
Christophe Weber, President and Chief Executive Officer of Takeda, commented:
"Today we reported strong first half results in a year of significant transformation. This strong momentum allows us to increase our full year profit guidance.
The recent positive CHMP opinion for the conditional approval of NINLARO® in the EU was an important step to bring this new treatment option to patients worldwide. I am confident that our Growth Drivers will continue to fuel our momentum well into the future."

Reported Results for H1 (April – September) of FY2016
(billion yen)

FY2015

FY2016

Growth

 
H1
 
H1
 
Reported

Underlying2
Revenue
 
904.0
 
850.8
 
-5.9%
 
+7.4%
Core Earnings1
 
174.9
 
131.0
 
-25.1%
 
+12.7%
Operating Profit
 
110.4
 
162.1
 
+46.7%
 
N/A
Net Profit3
 
54.4
 
124.3
 
+128.6%
 
N/A
EPS
 
69 yen
 
159 yen
 
+129.4%
 
N/A
Core EPS

138 yen

139 yen

+1.2%

+49.3%

1

Core Earnings is calculated by taking reported gross profit and deducting SG&A expenses and R&D expenses.
    In addition, certain other items that are non-core in nature and significant in value may also be adjusted.
2
  Underlying growth compares two periods of financial results under a common basis, showing the ongoing performance of the business excluding the impact of foreign exchange and divestitures.
3
  Attributable to the owners of the company.

Takeda increases management guidance for Underlying Core Earnings to "mid- to high-teen growth" and Underlying Core EPS is trending to the high end of the "low- to mid-teen growth" range

FY2016 Management Guidance


Previous Guidance
(May 10, 2016)

Revised Guidance
(Oct 28, 2016)
Underlying Revenue
 
Mid single digit growth (%)
 
Mid single digit growth (%)
Underlying Core Earnings
 
Low- to mid-teen growth (%)
 
Mid- to high-teen growth (%)
Underlying Core EPS
 
Low- to mid-teen growth (%)
 
Low- to mid-teen growth (%)
Annual Dividend per Share

180 yen

180 yen

Reported Net Profit/EPS forecast increased despite accelerated R&D transformation costs and unfavorable currency impact
Total estimated costs related to the R&D transformation program are unchanged at 75 billion yen; with 40 billion yen estimated in FY2016 (previous forecast was 25 billion yen) and 35 billion yen in FY2017.

FY2016 Reported Forecast
(billion yen)

Previous Forecast
(May 10, 2016)

Revised Forecast
(Oct 28, 2016)
Revenue
 
1,720.0
 
1,670.01
R&D Expenses
 
-325.0
 
-310.02
Operating Profit
 
135.0
 
135.0
Net Profit 3
 
88.0
 
91.0
EPS
 
112 yen
 
116 yen
Exchange Rate (annual average)

1 US$=110 yen, 1 euro=125 yen

1 US$=104 yen, 1 euro=117 yen

1

Includes unfavorable currency impact of approximately 68 billion yen
2
  Includes favorable currency impact of approximately 14 billion yen
3
  Attributable to the owners of the company

For more details on Takeda’s FY2016 H1 results and other financial information please visit http://www.takeda.com/investor-information/results/
About Takeda Pharmaceutical Company Limited
Takeda Pharmaceutical Company Limited is a global, research and development-driven pharmaceutical company committed to bringing better health and a brighter future to patients by translating science into life-changing medicines. Takeda focuses its R&D efforts on oncology, gastroenterology and central nervous system therapeutic areas plus vaccines. Takeda conducts R&D both internally and with partners to stay at the leading edge of innovation. New innovative products, especially in oncology and gastroenterology, as well as our presence in Emerging Markets, fuel the growth of Takeda. More than 30,000 Takeda employees are committed to improving quality of life for patients, working with our partners in health care in more than 70 countries. For more information, visit http://www.takeda.com/news.


Contacts

Takeda Pharmaceutical Company Limited
Investor Relations
Noriko Higuchi, +81-(0)3-3278-2306
noriko.higuchi@takeda.com


Media Relations
Tsuyoshi Tada, +81 (0)3-3278-2417
tsuyoshi.tada@takeda.com








Permalink: http://www.me-newswire.net/news/18946/en

Ras Al Khaimah Investment Authority Announces Lawsuit against Farhad Azima in London High Court

LONDON - Friday, October 28th 2016 [ME NewsWire]

(BUSINESS WIRE)-- The following is a statement from The Ras Al Khaimah Investment Authority (RAKIA), the investment arm of the UAE Emirate of Ras Al Khaimah:

The Ras Al Khaimah Investment Authority (RAKIA), the investment arm of the UAE Emirate of Ras Al Khaimah, has filed a lawsuit against US-Iranian Farhad Azima in the London High Court.

The case brought by the RAKIA centres around two separate claims of misconduct. The first claims centres on the sale of the Sheraton Metechi Palace Hotel in Tbilisi from RAKIA Georgia to Eurasia Hotel Holdings Ltd, a company beneficially owned by Mr Houshang Hosseinpour. RAKIA alleges that Mr Azima took a ‘secret commission’, that went way beyond the agreed 5% commission of the sale price of the Hotel and in fact led to him receiving a 10% interest in the Hotel worth $6.25 million.

Other allegations made by RAKIA suggests Mr Azima paid, the then CEO of RAKIA Georgia, Khater Massaad $500,000 for his facilitation of the deal. Massaad has recently been arrested in Saudi Arabia and is awaiting extradition.

The second aspect of the case brought by RAKIA against Azima concerns a joint venture proposed by him in late 2015 to buy military aircraft valued at $52 million. RAKIA claims that the proposal was in fact an attempt to deceive RAKIA out of millions of dollars.

The High Court claim form states that “Mr Azima was aware that the joint venture submitted... grossly overstated the value of the aircraft” and that “Mr Azima [falsely] represented… that the proposed joint venture had the ‘backing’ of the US government, including that the US Government would sponsor and support the proposed joint venture and would serve as its ultimate customer.”

RAKIA is now seeking $2.6 million in damages. The main trial date is yet to be confirmed.

Contacts

RAKIA Media Office

E: RAK@bellpottinger.com

T: +44 20 3772 2460









Permalink: http://me-newswire.net/news/18945/en

High Caliber Speakers Connect to Protect at RSA® Conference 2016 Abu Dhabi

Second Annual Cybersecurity Event Unveils Keynote Roster

ABU DHABI, United Arab Emirates - Friday, October 28th 2016 [ME NewsWire]

(BUSINESS WIRE)-- RSA® Conference, the world’s leading information security conference and exposition, has announced that it will host a group of diverse cyber security experts and influential speakers in Abu Dhabi. This year’s keynote speakers will share crucial insights and in-depth knowledge on a variety of sector critical topics including enterprise malware, changing security perspectives, and the future of the threat landscape. RSA Conference 2016 Abu Dhabi takes place from November 15-16, 2016 at Emirates Palace Hotel, Abu Dhabi.

Exciting additions to the keynote speaker lineup for this year include former two-time Formula One World Champion, Mika Hakkinen and motor racing corporate titan turned motivational speaker, Mark Gallagher. Both are set to close out the conference with “Risk Management in F1 - Team Work & Technology at 350kph”, which takes a look at what is required in order to succeed in the high speed, technology driven sport.

Additional keynote presentations from industry leaders include:

    Amit Yoran, President, RSA, will talk about, “Changing Perspective” that explores what organizations need to change in an evolving digital landscape.
    Matt Alderman, Vice President, Global Strategy, Tenable Network Security will present a session on “The Journey Ahead: Defining a new Security Roadmap”, which will cover the need for organizations to relook at IT security strategies to ensure maximum security.
    Jason Kent, Vice President, Web Application Security, Qualys, will speak on “Security in the App Era: Building Strength for an Interconnected World” that aims to equip enterprise leaders to fly safely in today's interconnected world.
    Sahir Hidayatullah, Chief Executive Officer, Smokescreen Technologies, will deliver a session titled “Wolves amongst Sheep--Defeating Targeted Attacks with Deception”. This talk will deconstruct recent attacks from a hacker's perspective and show how companies can use deception technology to detect stealthy attacks.
    Scott Manson, Cyber Security Leader for Middle East and Turkey, Cisco, will delve into “Cybersecurity in the Digital Economy” detailing business benefits afforded by digitization, a secure network infrastructure and a threat-centric security model
    Scott Rea, Senior Vice President - Public Key Infrastructure, DarkMatter LLC will cover “Keys to the IoT Security Castle” that explores the use of certificates for the implementation of security services for the Internet of Things.

“Given the rapid rise of threats, it’s imperative for organizations to stay ahead of cybercriminals and keep up to date with the latest trends. RSA Conference 2016 Abu Dhabi is the premier platform for attendees to learn from the most skilled individuals in cybersecurity, better enabling them to protect their valuable business assets,” said Linda Gray Martin, General Manager, RSA Conferences.

To register, please visit: https://www.rsaconference.com/events/ad16/register

To view the full speaker list, please visit: https://www.rsaconference.com/events/ad16/speakers

Media can register for a complimentary RSA Conference 2016 Abu Dhabi press pass by visiting: https://www.rsaconference.com/events/ad16/media

About RSA Conference

RSA® Conference is the premier series of global events where the world talks security and leadership gathers, advances and emerges. Whether attending in the U.S., the EMEA region, or the Asia-Pacific region, RSA Conference events are where the security industry converges to discuss current and future concerns and get access to the people, content and ideas that help enable individuals and companies to win, grow and do their best. It is the ultimate marketplace for the latest technologies and hands-on educational opportunities that help industry professionals discover how to make their companies more secure while showcasing the most enterprising, influential and thought-provoking thinkers and leaders in security today. For information on events, online programming and the most up-to-date news pertaining to the information security industry visit www.rsaconference.com

RSA is either a registered trademark or trademark of EMC Corporation in the United States and/or other countries. All other products

Contacts

Edelman UAE

Ibrahim Ahmed, +97156 4015339

Ibrahim.Ahmed@edelman.com









Permalink: http://www.me-newswire.net/news/18944/en

GSMA Announces Additional Commitments from Indian Operators to Reduce Mobile Gender Gap by 2020

Aircel, Bharti Airtel and Vodafone Sign Up to Connected Women Commitment Initiative

NEW DELHI - Tuesday, October 25th 2016 [ME NewsWire]

(BUSINESS WIRE)-- At the GSMA Mobile 360 – India conference today, the GSMA announced a further three signatories to the Connected Women Commitment Initiative, which focuses on reducing the gender gap in mobile internet and mobile money services. Aircel, Bharti Airtel and Vodafone have made a commitment to increase the number of women accessing mobile internet services, with additional commitment from Vodafone to grow its base of female mobile money customers. Collectively representing over 100 million customers in these service areas, Aircel, Bharti Airtel and Vodafone now join with other GSMA operator members in committing to connect millions more women in low- and middle-income countries by 2020.

GSMA research has shown that in India, there are significant gender gaps in mobile internet and mobile money services, which prevent women from reaping the full benefits of mobile phone ownership. Further, according to the World Bank’s Findex 2014 data1, women in India are 66 per cent less likely to have used and benefitted from mobile money services in the past 12 months.

“Addressing the gender gap in mobile phone ownership is an important topic that business leaders and governments will be discussing at the GSMA’s Mobile 360 – India event,” said Mats Granryd, Director General, GSMA. “GSMA research2 shows that South Asia has the highest gender gap globally in mobile phone ownership and that women in India are estimated to be 36 per cent less likely to own a mobile than men, translating into an estimated 114 million fewer women who are benefiting from mobile services. Ensuring digital and financial inclusion for women is essential, because when women thrive, societies and economies thrive.”

These latest commitments by three of India’s leading operators build on the 15 million women already benefiting from female-focused services offered by GSMA Connected Women operator partners. Through the Connected Women Commitment Initiative, operators are working to increase the proportion of their female customers, supporting the United Nations Sustainable Development Goals (SDGs), in particular SDG 5, which focuses on achieving gender equality and empowering all women and girls.

Operators participating in the Connected Women Commitment Initiative are implementing a range of programmes to address the gender gap, including: increasing the number of female agents; improving the data top-up process to be safer and more appealing to women; and improving digital literacy among women through educational programmes and interactive content. Closing the gender gap in mobile phone ownership and usage in the developing world could unlock an estimated US$170 billion market opportunity for the mobile industry in the period 2015-2020.

The Connected Women Commitment Initiative was launched in February 2016 and has now received 30 commitments from 22 operators. In addition to Aircel, Bharti Airtel and Vodafone in India, signatories include Dialog Axiata PLC in Sri Lanka, Digi Telecommunications Sdn Bhd (Digi) in Malaysia, Indosat Ooredoo in Indonesia, Ooredoo Maldives, Orange Mali, Ooredoo Myanmar, Robi Axiata Limited in Bangladesh, Smart Burundi, Smart Tanzania, Smart Uganda, Tigo Chad, Tigo Ghana, Tigo Rwanda Tigo Senegal, Tigo Tanzania, Turkcell and Zantel which totals well over 200 million mobile internet and mobile money customers where a mobile operator has made a commitment (i.e. mobile internet or mobile money). Find out more about the Connected Women Commitment Initiative at http://gsma.com/mobilefordevelopment/the-commitment.



Notes to Editors

1 www.worldbank.org/en/programs/globalfindex

2www.gsma.com/mobilefordevelopment/programmes/connected-women/bridging-gender-gap

About the GSMA

The GSMA represents the interests of mobile operators worldwide, uniting nearly 800 operators with almost 300 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organisations in adjacent industry sectors. The GSMA also produces industry-leading events such as Mobile World Congress, Mobile World Congress Shanghai and the Mobile 360 Series conferences.

For more information, please visit the GSMA corporate website at www.gsma.com. Follow the GSMA on Twitter: @GSMA.

Contacts

For the GSMA

Charlie Meredith-Hardy

+44 7917 298428

CMeredith-Hardy@webershandwick.com



or

Ayanica Sree

+91 9873058742

ASree@webershandwick.com



or

GSMA Press Office

pressoffice@gsma.com





Permalink: http://me-newswire.net/news/18921/en

ITWORX Education to Reveal Its Award-Winning Portfolio with Microsoft at BETT LatAm Leadership Summit

Mexico City, Mexico - Thursday, October 27th 2016 [ME NewsWire]

 ITWORX Education is set to disclose its award-winning portfolio of education solutions with Microsoft at the 4th BETT LatAm Leadership Summit, taking place in Mexico City between 27 and 28 October 2016. The summit brings together over 2,000 influential education leaders from more than 29 countries across Latin America (LatAm) and the rest of the world.

As the 2016 Microsoft Partner of the Year award finalist, ITWORX Education will be joining an elite group of high-profile industry experts and thought leaders to define the future of technology-driven quality education.

Within the framework of its overarching mission and vision at the service of knowledge-based economies across the world, ITWORX Education will be delivering a presentation titled Transforming Education using Technology: Blended Learning, 21st Century Skills, and Student Engagement. The presentation aims to showcase the company’s recent endeavors and success stories of providing easily accessible and affordable quality education.

Commenting on the company’s participation in the BETT LatAm Leadership Summit, Mr. Hatem Sallam, CEO of ITWORX Education, said:

“The world is constantly changing and the way we learned and taught things 10 years ago is no longer effective today. Which is why at ITWORX Education we are really excited to be participating in the BETT LatAm Leadership Summit. Along with other thought leaders and innovators, we can collectively explore trends, strategies and opportunities for all stakeholders and work together to transform the educational scene. The summit also serves as an excellent platform to share and discuss our vision, philosophy and expertise on how to break traditional methods through innovation, in order to improve the processes of education and, ultimately, enable every school around the world to enhance the quality and ease the accessibility of quality education.”

Paying homage to the company’s achievements and its outstanding solutions and services in the public sector, ITWORX Education was recently named the 2016 Microsoft Partner of the Year ‘CityNext’ award finalist, based on its WinjiGo Syrian Refugees project.

Through its participation in the BETT LatAm Leadership Summit, ITWORX Education will not only extend its reach and forward its vision to new unexplored territories in the Latin American region, but also share its success stories and how technology can harness the potential of education on a global scale.

As part of its global expansion plans and building on its previous success, ITWORX Education is currently collaborating with JP-IUSA to implement a WinjiGo pilot in two of the UPAP School classrooms, located in the northwestern part of Mexico, in the municipality of Jocotitlán. Alongside that, the Company is coordinating with LatinShare to introduce solutions to the Chilean market that is ripe with opportunities for education technology and education.

Besides introducing WinjiGo, ITWORX Education’s latest prize-winning social learning platform, the Company’s TeacherKit app is already being used by thousands of teachers in Mexico, Brazil and Chile. TeacherKit is the world’s number one classroom management too, with over 1 million instructors using it around the world.

Through keynote presentations, interactive discussions and debates, the Summit will explore the new Mexican education reform and how it may improve education equality, as well as address the issues at the heart of Latin American education, while highlighting the importance of professional development in today's world and in Latin America, considering the dynamic of the population, the demographic bonus, and the immediate challenges facing the region.

Contacts

Grey Doha

Mona Mashhoor, +974-6618-6797

mona.mashhoor@greydoha.com









Permalink: http://me-newswire.net/news/18942/en

Award Recognizes CSR Champions of the Arab Region

18 organisations receive the coveted Arabia CSR Award


Dubai, United Arab Emirates - Thursday, October 27th 2016 [ME NewsWire]

On the 20th of October a grand gala was organized in Dubai to felicitate the winners of the 2016 cycle of Arabia CSR Awards. The awards were organized under the patronage of League of Arab States (LAS) for the third consecutive year and in partnership with United Nations Environment Programme (UNEP) for the same duration.

The Awards are globally well recognized as having one of the most rigourous criteria on CSR and sustainability. Based on the UN Global Compact Ten Principles, the GRI framework and the EFQM model, the criteria represents global benchmarks and standards that set it apart from other awards of its kind. Although a Pan –Arab initiative, the Arabia CSR Awards combine the best elements of global standards and local best practice.

In 2016 there were in all 103 registrations from 87 organisations from various part of the Gulf, Levant and North Africa.  68 applications submitted by 46 large, small and medium; public and private organisations were shortlisted for jury evaluation.  Some of the most well-known players across industries and sectors can be found on this list, including Oil and Gas, telecommunication, utilities, construction & real estate, banks, hospitals, and many more. The awards are annually conferred across nine categories, - Public Sector, Large Business, Medium Business, Small Business, Energy Sector, Financial Services Sector, Social Enterprise Sector, Partnerships & Collaborations and New Business. This year awards were presented in 7 categories, two categories were withheld because the applications failed to live up to the expected standards of the awards. All applicants were presented with mounted certificates in recognition of their effort along with a detailed feedback from the awards jury. The Climate Neutral event was attended by a galaxy of leaders and dignitaries from various sectors, government and private in the Arab world.

Speaking at the function was Habiba Al Marashi, the President & CEO of Arabia CSR Network, said, “Organisations across the Region are viewing CSR and sustainability from the lens of social value creation and stakeholder needs. This is a very welcome development and one that will be very impactful for the Region as we move to the Sustainable Development Goals era and the 2030 Arab Agenda for Sustainable Development.”

Other supporting organisations were myclimate and its partner Farnek, DNV-GL, Emirates Environmental Group, and a host of media supporters including 7 Days and Gulf News.

Click here for the list of winners:

https://www.dropbox.com/s/ay60wh1j66iwbmf/CSR%20AWARDS%202016%20Winners.pdf?dl=0

Contacts

Pritika De Noronha, +9714-344-8120

admin@arabiacsrnetwork.com

www.arabiacsrnetwork.com









Permalink: http://me-newswire.net/news/18909/en

Thursday, October 27, 2016

Security Innovation Presenting at the Largest Cybersecurity Event in the Baltics

WILMINGTON, Mass. - Thursday, October 27th 2016 [ME NewsWire]

(BUSINESS WIRE)-- Security Innovation, pioneers in application security, will be leading three separate presentations this week at DSS ITSEC 2016, the largest cybersecurity event in the Baltics.

DSS ITSEC is an international world class cybersecurity event in Riga, Latvia that was in listed in the top 3 from over 240 events across EU in ENISA's calendar of cyber security events happening in a month of October. This year’s event has 9 parallel sessions; many different ITSEC trending topics; world star speakers; over 80 international speakers; live video streaming and free access to all its content.

Security Engineer Geoffrey Vaughn was selected to demonstrate his vast expertise during three separate presentations at the event, including:

HACKER VS TOOL
11:30am - 12:00pm
Use of Which When Where Learn to implement security controls throughout all areas of your software development life cycle, and examine the types of security tools and services that are best used at each phase of development. This vendor agnostic talk will discuss the strengths and weaknesses of each type of offering whether you are developing one application or managing thousands.

SECURITY BEST PRACTICES FOR REGULAR USERS
12:30pm - 13:00pm
What's in your personal threat model? What assets are you trying to protect? Learn how to improve your personal security and privacy online through best practices and security tips. This talk is for everyone, whether you’re a seasoned security professional or complete novice hopefully you will take away a few areas where you can better protect your personal information.

CATCHING IMSI CATCHERS
15:50pm - 16:20pm
Hunting the hunter, can you tell if your phone’s being captured by a rogue cell phone tower/ IMSI catcher/ Stingray? Learn strategies to detect rogue cell phone towers and hear stories from adventures war walking Las Vegas during Defcon. Learn about IMSI catchers their capabilities, LTE to GSM downgrade attacks, and ways to protect yourself from these devices. Discover open source projects and other ways you can get involved to help make cellular technologies safer for users.

“It is certainly an honor to be selected to speak at DSSITSEC,” said Vaughn. “It is my pleasure to be delivering 3 different talks geared to 3 different audiences. Hacker vs Tool is for individuals who want to build secure produces where we look at how security can be implemented throughout your SDLC whether that is a traditional, hybrid, or agile model. For the security conscience users I've prepared a talk on Security Best Practices. An important thing to realize is that if a regular user can take even a few basic security steps they can greatly improve their personal security posture. For the Hacker or Privacy advocate in you attend the Catching IMSI Catchers talk. Learn how police and governments are using rogue cellular devices to implement dragnet surveillance programs and how to not get swept up in them.”

Geoffrey Vaughn, Security Engineer for Security Innovation, spends his time hacking and securing web applications, mobile apps, robots, 3D printers, infrastructure, embedded devices, and anything with a Biometric. He is passionate about security and helping others build secure products.

About Security Innovation

Since 2002, organizations have relied on Security Innovation for our unique software and application security expertise to help secure and protect sensitive data in the most challenging environments - automobiles, desktops, web applications, mobile devices and in the cloud. Recognized as a Leader in the Gartner Magic Quadrant for Security Awareness for the third year in a row, Security Innovation is dedicated to making the world (and your organization) a safer place, one employee and one application at a time. Security Innovation is privately held and headquartered in Wilmington, MA USA. For more information, visit www.securityinnovation.com.

About Data Security Solutions (DSS)

Located in heart of Baltics - Riga, Latvia, EU - Data Security Solutions is an IT Security company who help organizations protecting most critical business information from both - inside and external risks and threats. Key specialization of DSS is system integration of the complex cyber security technological solutions and cyber security strategy development and its continuous development and maintenance. For more information, visit www.dssitsec.eu.

Contacts

Security Innovation

Rebecca Leitch, 978-267-1631

Corporate Marketing Manager

rleitch@securityinnovation.com

www.securityinnovation.com









Permalink: http://me-newswire.net/news/18939/en

Flurry Analytics Announces Advancements to Yahoo’s Mobile Developer Suite

Introducing Crash Analytics 2.0 and Revenue Analytics to enable continued growth for developers, worldwide

SUNNYVALE, Calif. - Thursday, October 27th 2016 [ME NewsWire]

(BUSINESS WIRE)-- Flurry Analytics today announced the availability of two advancements to the Yahoo Mobile Developer Suite, Crash Analytics 2.0 and Revenue Analytics. With the addition of these two features, Flurry Analytics is now the most comprehensive analytics suite available to developers worldwide, at any scale.

"At Flurry, we’re focused on creating products that help developers around the world build better apps to successfully grow and scale their businesses,” said James Kelm, Senior Director of Product Management at Yahoo. “The rollout of advanced crash and revenue analytics capabilities on Flurry provides developers with an all-in-one suite of tools to give them a 360-degree view of their app's performance."

Crash Analytics provides developers information about application crashes, caught exceptions and logged errors, all in real time. This functionality is vital for determining the root cause of any issues quickly, while keeping apps running smoothly and customers happy at the same time. With Flurry Crash Analytics 2.0, developers now have the power to:

    Compare the health of apps over the last year
    Survey the health of app collections over the last 24 hours
    Investigate and dive deep into the specifics of a given issue, including device details and symbolicated stack traces

Revenue Analytics allows developers to track In App Purchase (IAP) Revenue from transactions that occur within iOS or Android apps. With Revenue Analytics in Flurry, developers can determine if an app is producing revenue, regardless of the currency of the transaction. By adding revenue analytics, developers can also gain insights into the:

    Average revenue across all devices and the number of devices making purchases
    Products that are driving the most revenue
    Amount of IAP revenue confirmed via Receipt Validation

Mobile developers can access these new tools today, by visiting developer.yahoo.com.

About Yahoo

Yahoo is a guide focused on making users' daily habits inspiring and entertaining. By creating highly personalized experiences for our users, we keep people connected to what matters most to them, across devices and around the world. In turn, we create value for advertisers by connecting them with the audiences that build their businesses. Yahoo is headquartered in Sunnyvale, California, and has offices located throughout the Americas, Asia Pacific (APAC) and the Europe, Middle East and Africa (EMEA) regions. For more information, visit the pressroom (pressroom.yahoo.net) or the Company's blog (yahoo.tumblr.com).

Yahoo is the trademark and/or registered trademark of Yahoo! Inc.

All other names are trademarks and/or registered trademarks of their respective owners.

Contacts

Yahoo! Inc.

Kym Lino

klino@yahoo-inc.com









Permalink: http://me-newswire.net/news/18937/en

Hilton Named One of the World’s 25 Best Places to Work

 Recognized on Great Place to Work’s 2016 list based on Team Member feedback

MCLEAN, Va. - Thursday, October 27th 2016 [ME NewsWire]

(BUSINESS WIRE)-- Hilton (NYSE: HLT) today announced it has been named one of the World’s 25 Best Multinational Workplaces in 2016, according to global research and consulting firm Great Place to Work®. Hilton was selected based on Team Members’ assessments of the company’s jobs, opportunities for training, and support for work/life balance, among other factors.

With a workforce spanning more than 104 countries and territories, Hilton’s recognition is a result of positive feedback from Team Members across the globe. Hilton ranked in all 12 country lists that evaluated the company this year, including number one rankings in China and Turkey.

"We are thrilled to be recognized as one of the World’s 25 Best Multinational Workplaces,” said Christopher J. Nassetta, president & CEO of Hilton. “Our Team Members’ hard work, passion and commitment are at the core of Hilton’s success. Together we have built an incredible culture that allows us to deliver the world’s best hospitality – both to our guests as well as to our amazing Team Members, who are the heart and soul of our company.”

Hilton offers leading programs across the globe that deliver Team Members great environments, rewards and careers, including:

    Go Hilton, a program that provides exclusive travel discounts and perks for Team Members, as well as their family and friends. Since its launch in May, the program has been used to book 800,000 room nights.
    Opportunities for recognition through programs such as Catch Me at My Best, the CEO Light & Warmth Awards and Team Member Appreciation Week that acknowledge Team Members at all levels from guests, peers and managers.
    A comprehensive corporate sustainability platform, Travel with Purpose, that enables Team Members to support environments and communities around the world through celebrations such as Global Month of Service, Travel with Purpose Action Grants and Earth Month.
    Hilton University, a learning and development resource that helps Team Members plan and manage their careers, as well as develop skills to help them advance.
    Resources that make Hilton a great place to work. The Heart of House initiative provides amenities such as wi-fi, popular food offerings and inviting décor to onsite Team Members. Additionally, the Lobby serves as Hilton’s central hub for all company news, including daily updates from Team Members across the globe, property news, executive check-ins, community outreach and more.

To see the full list of the World’s Best Multinationals, click here. In conjunction with the sixth annual list, Great Place to Work® is publishing a report highlighting the great workplaces across the globe.

About Hilton

Hilton (NYSE: HLT) is a leading global hospitality company, comprising more than 4,800 managed, franchised, owned and leased hotels and timeshare properties with nearly 789,000 rooms in 104 countries and territories. For 97 years, Hilton has been dedicated to continuing its tradition of providing exceptional guest experiences. The company's portfolio of 13 world-class global brands includes Hilton Hotels & Resorts, Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Canopy by Hilton, Curio - A Collection by Hilton, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, Tru by Hilton, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages an award-winning customer loyalty program, Hilton HHonors®. Hilton HHonors members who book directly through preferred Hilton channels have access to benefits including an exclusive member discount, free standard Wi-Fi, as well as digital amenities that are available exclusively through the industry-leading Hilton HHonors app, where Hilton HHonors members can check-in, choose their room, and access their room using a Digital Key. Visit news.hiltonworldwide.com for more information and connect with Hilton on Facebook, Twitter, YouTube, Flickr, LinkedIn and Instagram.

About the World’s Best Multinational Workplaces list

Since 2011, Great Place to Work® has identified the top organizations that create great workplaces in multiple countries in which they operate through the publication of the World’s Best Multinational Workplaces list. To be considered eligible for the multinational list, companies must meet our definition of a Multinational Company and appear on a minimum of 5 national best workplaces lists that rank organizations based on the results of their Trust Index© employee survey and Culture Audit© assessment (to qualify in the United States, we look at winners of the Fortune 100 Best Companies to Work For® list). The results of those national lists, in addition to extra points awarded for the number of countries an organization surveyed employees in, and the percentage of the company’s global workforce represented by those surveys, are combined to create a top 25 ranking. Candidates for the list must have a minimum of 5,000 employees worldwide, and 40% of their workforce (or 5,000 employees) must be based outside of the country in which they are headquartered. Candidates for the 2016 World’s Best Multinational Workplaces list will have appeared on the following lists: Best Workplaces in Asia 2016, Best Workplaces in Latin America 2016, Best Workplaces in Europe 2016, Best Workplaces in Canada 2016, Best Workplaces in Nigeria 2016, Best Workplaces in Brazil 2016 and Fortune Best Companies to Work For in US 2016.

About Great Place to Work®

Great Place to Work® is the global authority on high-trust, high-performance workplace cultures. Through proprietary assessment tools, advisory services, and certification programs, including Best Workplaces lists and workplace reviews, Great Place to Work® provides the benchmarks, framework, and expertise needed to create, sustain, and recognize outstanding workplace cultures. In India, Great Place to Work® produces the annual "India’s Best Companies to Work For" in partnership with the Economic Times, and a series of Great Place to Work® industry lists, including Best Workplaces lists for IT & ITeS, NGOs, and SMEs, and Retail.    

Contacts

Astrid Egerton-Vernon

Hilton

astrid.egerton-vernon@hilton.com

+1.703.883.5696    









Permalink: http://www.me-newswire.net/news/18934/en

Incheon Emerges as Third Largest City in Korea with 3 Million-Population

INCHEON, South Korea - Thursday, October 27th 2016 [ME NewsWire]

(BUSINESS WIRE)-- The third largest giant city with population of over 3 million is created in Korea that has a 50 million-population. As it exceeded 3 million in population as of October 19th, 2016, Incheon City has grown as a city with 3 million-population in 36 years of its history, next to Seoul and Busan.

The population of a city is one of important indicators that determine its strength. Under the situation where competitiveness of many nations and cities worldwide is likely to weaken due to demographic cliff, the increase in population to over 3 million means that it has the driving force of growth, standing comparison with major cities of the world.

In the United States with larger than 300 million of population, only two cities, New York and Los Angeles, have the population of over 3 million each, and other comparable cities are Berlin (3.5 million), Germany and Madrid (3.2 million), Spain.

Given the current trend of population in Korea where the society is rapidly aging, it is uncommon for Incheon to grow into such a large city in size of population because some experts predict that no other cities will do so in the future.

Main factor of increasing the population in Incheon is the influx of population from other parts of the country, among others. While the population in Seoul and Busan is in the decreasing trend that in Incheon is on the steady rise thanks to price competitive residential environment comparing to Seoul, increased new jobs and convenient transportation.

Incheon has grown into one of major cities in Northeast Asia by leveraging the international airport opened in 2001 and construction of the first free economic zone in Korea. Located in the region that can be reached within 2 hours by air in distance of less than 1,000 kilometers in radius from 84 cities with a population of over 1 million, Incheon provides optimal conditions as a center of tourism and business with an international airport, ports, 168 islands and the sea as well as the best free economic zone, comprising Songdo, Cheongra and Yeongjong districts.

Historically, Incheon is the first gateway to Korea for trade with foreign countries as the first port. It first started baseball and football games while the first railroad and Western-style hotel were built. It is widely known to foreign people as the historical site of landing operation during the Korean War, called ‘Operation Chromite’ as recently reproduced by a film of the same title. Also, the image of the city was effectively promoted in the world by hosting the Asian Games in 2014 and the 2015 President’s Cup golf tournament.

Celebrating the era of 3 million-population, Incheon is moving fast to achieve its goal. With commitment to proactively leading development of Korea by maximizing its historical and geographic features, the city aims to rise to one of the world top 10 cities by 2050 from 56th city as of 2012.

“Incheon is the cradle of the modern history of Korea, starting point of its future growth, and the city where foreign people first set their feet,” said Mayor Yoo Jeong-bok of Incheon Metropolitan City. “We will open the new age of Incheon’s sovereignty to continuously grow as a global city.”

Incheon was named by EIU* as the city with the ‘second greatest growth potential’ in the world and it was selected as the safest city in a survey on crime and safety in 2016 conducted by Numbeo, a world prominent site of comparing cities and nations, outpacing Tokyo (second in rank) and Seoul (third in rank). Taking account of its geopolitical status in the pan-Yellow Sea rim, Incheon is expected to play greater role as the pivotal international city.

*EIU: Economist Intelligence Unit, research arm of The Economist Group, a weekly magazine in the United Kingdom.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=51446068&lang=en

Contacts

Incheon Metropolitan City

Yuree Choi, 82-32-440-3092

yuree@korea.kr









Permalink: http://me-newswire.net/news/18941/en

ABB Names Timo Ihamuotila as New Chief Financial Officer

ZURICH - Thursday, October 27th 2016 [ME NewsWire]

    Timo Ihamuotila joins pioneering technology leader ABB as Chief Financial Officer from Nokia, effective April 1, 2017
    Proven Chief Financial Officer with extensive experience in communications, software and services industries, active portfolio management and operational performance improvement
    Deep understanding of corporate transformation and digital business models
    Quantum leap in digital is cornerstone of Stage 3 of ABB’s Next Level Strategy: after creating the Chief Digital Officer role, new CFO key to transforming ABB as leader in digital industries

(BUSINESS WIRE)-- ABB announced today that Timo Ihamuotila has been named Chief Financial Officer and member of the Executive Committee, effective April 1, 2017. Ihamuotila succeeds current CFO Eric Elzvik in an orderly transition process. Elzvik will pursue career opportunities outside of ABB after a thorough handover in second quarter of 2017.

Ihamuotila is joining ABB from Nokia, where he has held the position of CFO since 2009. In this role, he was key in helping to turn around and reposition Nokia as a “global leader in the technologies that connect people and things” through business model changes, active portfolio management operational improvement.

Ihamuotila brings with him 26 years of experience in the communications and banking sector and has deep experience in areas as finance, controlling, mergers & acquisitions, commercial and general management.

“Timo is a seasoned CFO with an impressive global track record,” said Chief Executive Officer Ulrich Spiesshofer. “He has extensive and deep experience in all aspects of finance as well as in transforming businesses in times of industrial digitalization. With his wide range of expertise, ranging from financial, to commercial to general management, he is the ideal person to lead our finance organization and partner to drive ABB’s ongoing transformation as leader in the digital industry. I am delighted to welcome Timo to our Executive Committee in these exciting times as we focus on unlocking maximum value for all shareholders,” Spiesshofer said.

“At the same time I would like to warmly thank Eric Elzvik already now for his long, outstanding commitment and many valuable contributions to ABB over more than three decades. During Eric’s CFO tenure, a new cash culture together with a significant improvement of our Net Working Capital, a fundamental productivity improvement of the finance function and many portfolio actions were successfully established and delivered. We wish Eric all the best for the next step of his professional career which he will pursue after the orderly handover process is completed in Q2 2017.”

Prior to taking his current role, Ihamuotila held positions at the Finnish communications technology firm that included executive vice president of sales, general manager of a business unit and Group treasurer. Earlier in his career, he held positions at Citibank and Kansallis Bank. He earned a master of science degree in economics and a post graduate degree in finance from the Helsinki School of Economics

“I’m very pleased to join ABB at such a pivotal stage of its transformation, as it moves to the next level and expands its digital offering, helping its customers harness the Energy and Fourth Industrial Revolutions,” said Ihamuotila. “I look forward to driving sustainable growth and accelerate value creation across ABB together with the entire management team.”

Elzvik joined ABB in 1984 and has during his long and distinguished career held a variety of leadership roles in Sweden, Singapore and Switzerland, including head of Corporate Development, and head of Mergers & Acquisitions and Joint Ventures. He was CFO of the Automation Products division from 2006 and in 2010 became CFO for the Discrete Automation and Motion division. He serves ABB as Group CFO since February 2013.

ABB (ABBN: SIX Swiss Ex) is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally. Continuing more than a 125-year history of innovation, ABB today is writing the future of industrial digitalization and driving the Energy and Fourth Industrial Revolutions. ABB operates in more than 100 countries with about 135,000 employees. www.abb.com

Contacts

ABB Ltd

Media Relations

Tel: +41 43 317 65 68

media.relations@ch.abb.com

or

Investor Relations

Tel. +41 43 317 71 11

investor.relations@ch.abb.com









Permalink: http://www.me-newswire.net/news/18936/en

ABB: Continued Margin Growth in Tough Markets

ZURICH - Thursday, October 27th 2016 [ME NewsWire]

    Operational EBITA margin1 increased to 12.6%
    White Collar Productivity on track towards $1.3 bn savings; expected total costs reduced by $100 mn
    Net Income $568 million; basic earnings per share up 2%
    Base orders -6%2; total orders -13%; reflect Q3 uncertainty
    Revenues steady
    Cash flow from operating activities $1,081 million, more consistent quarterly cash generation
    Timo Ihamuotila to succeed Eric Elzvik as Chief Financial Officer effective April 1, 2017
    ABB launched Stage 3 of its Next Level Strategy – committed to unlocking value

(BUSINESS WIRE)-- “We delivered the eighth consecutive quarter of margin accretion through our continued focus on execution,” said CEO Ulrich Spiesshofer. “In the third quarter, we experienced significant macro uncertainties around Brexit and the US elections as reflected in the low order pattern. Orders in Power Grids were additionally dampened by the hesitation of customers prior to the Capital Markets Day. However, the Power Grids transformation is on track as clearly demonstrated by the 170 basis points margin accretion,” he said. “With our enhanced cash culture, we have delivered more than 30 percent higher cash flow so far this year with a much steadier cash generation profile.”

“We continue to run the company with discipline, realizing growth opportunities where possible whilst driving earnings and cash growth. We are committed to unlocking value for all shareholders as a more focused, agile company building on our industry-leading digital offering.”





Key figures








CHANGE








CHANGE
($ in millions, unless otherwise
indicated)


Q3 2016


Q3 2015


US$


Compar-
able1


9M 2016


9M 2015


US$


Compar-
able1
Orders


7,533


8,767


-14%


-13%


25,102


28,167


-11%


-8%
Revenues


8,255


8,519


-3%


0%


24,835


26,239


-5%


-1%
Operational EBITA1


1,046


1,081


-3%


-2%3


3,095


3,088


0%


+3%3
as % of operational revenues1


12.6%


12.5%


+0.1pts





12.4%


11.8%


+0.6pts



Net income


568


577


-2%





1,474


1,729


-15%



Basic EPS ($)


0.27


0.26


+2%





0.68


0.77


-12%4



Operational EPS1 ($)


0.32


0.32


-1%4


0%4


0.95


0.90


+5%4


+7%4
Cash flow from operating activities


1,081


1,173


-8%





2,415


1,824


+32%



   


   

Short-term outlook

Macroeconomic and geopolitical developments are signaling a mixed picture with continued uncertainty. Some macroeconomic signs in the US remain positive and growth in China is expected to continue, although at a slower pace than in 2015. The market remains impacted by modest growth and increased uncertainties, e.g., Brexit in Europe and geopolitical tensions in various parts of the world. Oil prices and foreign exchange translation effects are expected to continue to influence the company’s results.

Q3 2016 Group results

Orders

Total orders declined 13 percent (14 percent in US dollars) compared with the third quarter of 2015, reflecting timing of large order awards and lower short cycle volumes. Base orders (below $15 million) decreased 6 percent (7 percent in US dollars), while large orders ($15 million and above) were lower in all divisions and represented 11 percent of total orders compared with 17 percent a year earlier. Orders for services and software were 3 percent lower (5 percent in US dollars) and represented 17 percent of total orders compared with 16 percent a year ago.

Market overview

Demand patterns in ABB’s three regions:

    Demand in Europe was subdued primarily due to moderate overall growth, uncertainties in the UK following Brexit and political events in Turkey. Total orders declined 18 percent (20 percent in US dollars) while base orders were stable (2 percent lower in US dollars). Base order demand was positive in Germany, Italy, Sweden and Switzerland, and weak in the UK and Norway.
    The Americas was weaker due to considerable investment delays triggered by the US election and lagging industrial demand. Total orders declined 16 percent (17 percent in US dollars) on weaker large orders; base orders were 8 percent lower (9 percent in US dollars) on weak demand in the US, Canada and Brazil.
    Demand in Asia, the Middle East and Africa (AMEA) was mixed. India continued to grow and China continued its investment activities in power transmission and robotics. Total orders for the region were down 5 percent (7 percent in US dollars) as strong order development in India could not offset declines in China and the UAE. Base orders declined 9 percent (10 percent in US dollars).

Demand patterns in ABB’s three major customer sectors:

    Utilities continued their investment activities to integrate renewable energy and foster grid reliability and efficiency.
    In industry: investments in discrete and hybrid industries such as automotive, food and beverage and machinery remained positive while demand from the process industries, specifically mining and oil and gas remain subdued.
    Transport and infrastructure demand has been mixed. Demand for specialty vessels solutions remained strong as well as solutions involving energy efficiency for rail transport. Construction has been mixed.

The book-to-bill1 ratio in the third quarter decreased to 0.91x from 1.03x in the same quarter a year earlier. For the first nine months, book-to-bill1 is 1.01x. The order backlog at the end of September 2016 amounted to $24,554 million, a decrease of 2 percent (3 percent in US dollars) compared with the end of the third quarter in 2015.

Revenues

Revenues were flat (3 percent lower in US dollars) in the third quarter. Revenues were steady in the Electrification Products and Discrete Automation and Motion divisions and increased slightly in Power Grids, which offset a decline in Process Automation. Total services and software revenues increased 5 percent (4 percent in US dollars) and represented 18 percent of total revenues compared with 17 percent a year ago.

Operational EBITA

Operational EBITA decreased 2 percent in local currencies (3 percent in US dollars) to $1,046 million and included the impact of negative mix. Operational EBITA margin improved 10 basis points to 12.6 percent compared with the same quarter a year ago, reflecting margin accretion in Electrification Products, Process Automation and Power Grids as well as ongoing productivity and cost savings measures, such as the white collar productivity program.

Operational EPS and net income

Operational EPS was steady at $0.32 in constant currency compared with the same period a year earlier. The reduction in the weighted-average number of shares outstanding compensated for a slightly lower operational EBITA, higher interest expense and higher tax rate. Net income decreased 2 percent to $568 million and basic earnings per share was $0.27 compared with $0.26 for the same quarter of 2015, an increase of 2 percent.

Cash flow from operating activities

Cash flow from operating activities was $1,081 million, $92 million lower compared with the third quarter of 2015, mainly due to lower net income. In the first nine months of 2016, cash flow from operating activities increased 32 percent compared with the same period a year ago, primarily due to stronger working capital management and timing of income tax payments.

Shareholder returns

On September 30, 2016, ABB announced the completion of the share buyback program that was introduced in September 2014. During the buyback program, ABB repurchased a total of 171.3 million registered shares (equivalent to 7.4 percent of its issued share capital at the launch of the buyback program) for a total amount of approximately $3.5 billion.

At its Capital Markets Day on October 4, 2016, ABB announced its plans for a new share buyback program of up to $3 billion from 2017 through 2019. This reflects the company’s confidence and the continued strength of ABB’s cash generation and financial position.

Divestitures

In line with its strategy to continuously optimize the portfolio, ABB announced in September the planned sale of its global high-voltage cables systems business to NKT Cables. The transaction is expected to close in the first quarter of 2017 subject to regulatory clearances. ABB and NKT also signed an agreement for a long-term strategic partnership that will serve future projects globally.

Management changes

Today, ABB announced the appointment of Timo Ihamuotila as Chief Financial Officer and member of the Executive Committee, effective April 1, 2017. Ihamuotila succeeds current CFO Eric Elzvik in an orderly transition process, who will pursue career opportunities outside of ABB after a thorough handover in the second quarter of 2017. Ihamuotila joins ABB from Nokia, “a global leader in the technologies that connect people and things,” where he has been the Chief Financial Officer for the last seven years. Ihamuotila is a proven CFO with deep experience in communications, software and services industries, active portfolio management and operational performance improvement. He brings a deep understanding of corporate transformation and digital business models.

“Timo is a seasoned CFO with an impressive global track record,” said CEO Ulrich Spiesshofer. “He has extensive and deep experience in all aspects of finance as well as in transforming businesses in times of industrial digitalization. With his wide expertise, ranging from financial to commercial to general management, he is the ideal person to lead our finance organization and partner to drive ABB’s ongoing transformation as a leader in the digital industry. I am delighted to welcome Timo to our Executive Committee in these exciting times, as we focus on unlocking maximum value for all shareholders,” Spiesshofer said. “At the same time I would like to warmly thank Eric Elzvik already now for his long, outstanding commitment and many valuable contributions to ABB over more than three decades. During Eric’s CFO tenure, a new cash culture together with a significant improvement of our Net Working Capital, a fundamental productivity improvement of the finance function and many portfolio actions were successfully established and delivered. We wish Eric all the best for the next step of his professional career which he will pursue after the orderly handover process is completed in Q2 2017.”

Q3 divisional performance
($ in millions,
unless otherwise indicated)


Orders


Change

Revenues


Change


Operational
EBITA %


Change




US$


Compara-
ble1



US$


Compara-
ble1




Electrification Products


2,223


-6%


-4%

2,308


-2%


0%


17.8%


+0.4pts
Discrete Automation
& Motion


2,123


-5%


-4%

2,203


-1%


0%


14.1%


-0.7pts
Process Automation


1,193


-22%


-21%

1,523


-8%


-7%


12.2%


+1.5pts
Power Grids


2,391


-22%


-21%

2,636


-6%


+1%


9.5%


+1.7pts
Corporate & other (incl. inter-division elimination)


-397







-415












ABB Group


7,533


-14%


-13%

8,255


-3%


0%


12.6%


+0.1pts


                                       

Electrification Products

Total orders were down as positive order development in Europe could not offset a decline in the Americas and AMEA. In particular, markets including China, Saudi Arabia, Brazil and Turkey were challenging, while Italy, Switzerland and India were stronger. Revenues were steady, and operational EBITA margin improved 40 basis points to 17.8 percent, due to additional cost savings, capacity adjustments and supply chain management.

Discrete Automation and Motion

Continued strong demand patterns in robotics and in food and beverage could not offset the capex declines in process industries such as oil and gas, which negatively impacted order development. Revenues were steady, reflecting strong order execution. Operational EBITA margin declined 70 basis points compared with the same quarter a year ago primarily due to unfavorable mix and lower capacity utilization. Continued capacity adjustments and productivity improvements are underway.

Process Automation

Total orders were 21 percent lower (22 percent in US dollars) as reduced capital expenditure and cautious discretionary spending in process industries continued to impact large as well as base orders (13 percent lower, 13 percent in US dollars). Revenues declined 7 percent (8 percent in US dollars) as steady demand for specialty vessels could not compensate for declines in such segments as mining and oil and gas. Operational EBITA margin increased 150 basis points to 12.2 percent due to successful project execution and implemented cost reduction and productivity measures.

Power Grids

Total orders were lower compared with the same quarter a year ago primarily due to the timing of large order awards. Lower base orders reflected sluggishness in some markets such as the US, Saudi Arabia and Brazil while Europe remained supportive. Revenues were slightly higher due to steady execution of a healthy order backlog. Operational EBITA margin increased by 170 basis points to 9.5 percent. This solid performance was driven by sustained project execution, improved productivity and continued cost savings.

Next Level strategy – Stage 3

On October 4, 2016, ABB launched Stage 3 of its Next Level strategy to unlock value for customers and shareholders. The core elements of this include: shaping ABB’s divisions into four market-leading, entrepreneurial units; realizing ABB’s full digital potential; accelerating momentum in operational excellence; and strengthening ABB’s brand.

Driving growth in four market-leading entrepreneurial divisions

ABB is shaping and focusing its divisional structure into four market-leading divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids, effective January 1, 2017. The divisions will be empowered as entrepreneurial units within ABB, reflected in an enhancement of ABB’s performance and compensation model focusing on individual accountability and responsibility. They will benefit from sales collaboration orchestrated by regions and countries as well as from the group-wide digital offering, ABB’s leading G&A structure and costs, common supply chain management, and corporate research centers.

ABB announced two important partnerships in line with transforming the Power Grids offering. The agreements with Fluor and Aibel are examples in which ABB will bring its leading technology in power transmission and distribution. Fluor and Aibel provide execution of turnkey Engineering, Procurement and Construction (EPC) responsibilities for substations and offshore wind connections, respectively.

A quantum leap in digital with ABB AbilityTM

ABB is a hidden digital champion today. It is ideally positioned to win in the digital space with new and existing end-to-end digital solutions. The newly launched ABB Ability offering combines ABB’s portfolio of digital solutions and services across all customer segments, cementing the group’s leading position in the Fourth Industrial Revolution and supporting the competitiveness of ABB’s four entrepreneurial divisions.

The company has announced a far-reaching strategic partnership with Microsoft, the world’s largest software company, to develop next-generation digital solutions on an integrated open cloud platform. Customers will benefit from the unique combination of ABB’s deep domain knowledge and extensive portfolio of industrial solutions and Microsoft’s Azure intelligent cloud as well as B2B engineering competence. Together, the partners will drive digital transformation in customer segments across ABB’s businesses in utilities, industry and transport and infrastructure.

Accelerating momentum in operational excellence

ABB continues to build on its existing momentum and is further accelerating its operational excellence.

The company’s White-Collar Productivity savings program has outperformed expectations since its launch last year. As a result, ABB has increased the program’s cost reduction target by 30 percent to $1.3 billion. ABB will achieve these additional savings within the initially announced timeframe and for $100 million lower of total combined restructuring program and implementation costs. ABB is continuing its regular cost-savings programs, leveraging operational excellence and world-class supply chain management to achieve savings equivalent to 3-5 percent of cost of sales each year.

ABB reaffirms the target of its Net Working Capital program to free up approximately $2 billion by the end of 2017. The program is well on track and focuses on improving inventory management by optimizing the entire value chain, from product design to manufacturing, and by optimizing other net working capital measures.

Strengthening the global ABB brand

ABB will adopt a single corporate brand, consolidating all its brands around the world under one umbrella. ABB’s portfolio of companies will be unified, showcasing the full breadth and depth of the company’s global offering under one master brand. This transition is expected to take up to two years.

ABB reaffirmed its Group 2015-2020 financial targets.

Outlook

Macroeconomic and geopolitical developments are signaling a mixed picture with continued uncertainty. Some macroeconomic signs in the US remain positive and growth in China is expected to continue, although at a slower pace than in 2015. The market remains impacted by modest growth and increased uncertainties relating to Brexit in Europe and geopolitical tensions in various parts of the world. Oil prices and foreign exchange translation effects are expected to continue to influence the company’s results.

The attractive long-term demand outlook in ABB’s three major customer sectors — utilities, industry and transport & infrastructure — is driven by the Energy and Fourth Industrial Revolutions.

ABB is well-positioned to tap into these opportunities for long-term profitable growth with its strong market presence, broad geographic and business scope, technology leadership and financial strength.

More information

The Q3 2016 results press release and presentation slides are available on the ABB News Center at www.abb.com/news and on the Investor Relations homepage at www.abb.com/investorrelations.

ABB will host a press conference today starting at 9:00 a.m. Central European Time (CET) (8:00 a.m. BST, 3:00 a.m. EDT). The event will be accessible by conference call. Callers from the UK should dial +44 203 059 58 62. From Sweden, the number to dial is +46 85 051 00 31, and from the rest of Europe, +41 58 310 50 00. Callers from the US and Canada should dial +1 866 291 41 66 (toll-free) or +1 631 570 56 13 (long-distance charges apply). Lines will be open 10 to 15 minutes before the start of the conference. A podcast of the media conference will be available for one week afterwards. The podcast will be accessible at: http://new.abb.com/media/events

A conference call for analysts and investors is scheduled to begin today at 2:00 p.m. CET (1:00 p.m. BST, 8:00 a.m. EDT). Callers from the UK should dial +44 203 059 58 62. From Sweden, the number to dial is +46 85 051 00 31, and from the rest of Europe, +41 58 310 50 00. Callers from the US and Canada should dial +1 866 291 41 66 (toll free) or +1 631 570 56 13 (long-distance charges apply). Callers are requested to phone in 10 minutes before the start of the call. The call will also be accessible on the ABB website and a recorded session will be available as a podcast one hour after the end of the conference call and can be downloaded from our website www.abb.com.

ABB (ABBN: SIX Swiss Ex) is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally. Continuing more than a 125-year history of innovation, ABB today is writing the future of industrial digitalization and driving the Energy and Fourth Industrial Revolutions. ABB operates in more than 100 countries with about 135,000 employees. www.abb.com
     


   
Investor calendar 2016/2017




Fourth-quarter and full-year 2016 results


February 8, 2017
Annual General Meeting (Zurich)


April 13, 2017
First quarter 2017 results


April 20, 2017
Second quarter 2017 results


July 20, 2017
Third quarter 2017 results


October 26, 2017





Important notice about forward-looking information

This press release includes forward-looking information and statements as well as other statements concerning the outlook for our business, including those in the sections of this release titled “Short-term outlook”, “Outlook”, “Shareholder Returns”, “Divestitures”, “Management Changes” and “Next Level strategy - Stage 3”. These statements are based on current expectations, estimates and projections about the factors that may affect our future performance, including global economic conditions, the economic conditions of the regions and industries that are major markets for ABB Ltd. These expectations, estimates and projections are generally identifiable by statements containing words such as “expects,” “believes,” “estimates,” “targets,” “plans,” “is likely”, “intends” or similar expressions. However, there are many risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking information and statements made in this press release and which could affect our ability to achieve any or all of our stated targets. The important factors that could cause such differences include, among others, business risks associated with the volatile global economic environment and political conditions, costs associated with compliance activities, market acceptance of new products and services, changes in governmental regulations and currency exchange rates and such other factors as may be discussed from time to time in ABB Ltd’s filings with the U.S. Securities and Exchange Commission, including its Annual Reports on Form 20-F. Although ABB Ltd believes that its expectations reflected in any such forward-looking statement are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved.

Zurich, October 27, 2016
Ulrich Spiesshofer, CEO
1


For a reconciliation of non-GAAP measures, see “Supplemental Reconciliations and Definitions” in the attached Q3 2016 Financial Information
2
    Growth rates for orders, revenues and order backlog are on a comparable basis (local currency adjusted for acquisitions and divestitures), previously referred to as ‘like-for-like’. US$ growth rates are presented in Key Figures table
3
    Constant currency (not adjusted for portfolio changes)
4
    EPS growth rates are computed using unrounded amounts. Comparable operational earnings per share is in constant currency (2014 exchange rates and not adjusted for changes in the business portfolio


Contacts

ABB

Media Relations

Saswato Das / Markus Gamper / Antonio Ligi / Domenico Truncellito / Sandra Wiesner

Tel: +41 43 317 65 68

media.relations@ch.abb.com



or

Investor Relations

Tel. +41 43 317 71 11

investor.relations@ch.abb.com







Permalink: http://www.me-newswire.net/news/18935/en