Tag Archives: Central Europe

News, Politics, Government

Vodafone says Q1 sales lifted by emerging markets

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British mobile phone giant Vodafone said on Friday that sales grew in the first quarter, as strength in emerging markets countered weakness in Europe.

Total sales, including joint ventures, grew by 2.5 percent to ??10.155 billion in the first quarter or three months to the end of June, compared with a year earlier, Vodafone said in a trading update, adding that it remains on course to meet full-year targets.

“We have made a good start to the year in our areas of strategic focus: growth in emerging markets has accelerated,” said Chief Executive Vittorio Colao in the statement.

However, sales in Northern and Central Europe fell 3.0 percent due to increased competition.

Southern Europe revenues dived 14.4 percent, with particularly heavy drops in Italy and Spain, as trading conditions remained “difficult” in the region.

But the group’s Africa, Middle East and Asia Pacific region posted a 5.9-percent sales increase.

Vodafone added that its 7.7-billion-euro ($10.1-billion) takeover of Kabel Deutschland was expected to complete at the end of this year.

Colao added: “The proposed acquisition of Kabel Deutschland will create an excellent platform for our unified communications strategy in our most important market.

“Although regulation, competitive pressures and weak economies, particularly in Southern Europe, continue to restrict revenue growth, we continue to lay strong foundations for the longer term.”

The group had clinched a deal to purchase Germany’s biggest cable operator last month in a bid to grow in Europe.

Kabel Deutschland is Germany’s leading cable provider, providing television, telephony and broadband services to about 8.5 million connected households in 13 of Germany’s 16 federal states.

…read more

Source: FULL ARTICLE at Fox World News

Business, Finance, Occupation & Industry

CBRE Group, Inc. Acquires IMPACT-CORTI

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By Business Wirevia The Motley Fool

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CBRE Group, Inc. Acquires IMPACT-CORTI

Acquisition of Property Management Specialist Expands CBRE’s Capabilities in Central Europe

LOS ANGELES–(BUSINESS WIRE)– CBRE Group, Inc. (NYS: CBG) , a leading global commercial real estate services and investment firms, today announced the acquisition of IMPACT-CORTI a.s., a firm specialising in property management in the Czech Republic and Slovakia.

With six million sq ft (557,000 sq m) under management across 140 assets and current annual revenue of approximately $10 million, IMPACT-CORTI is the leading property manager in the Czech Republic and Slovakia. The company is particularly known for its expertise in the office sector but also has a portfolio of residential and industrial assets under management. In addition, IMPACT-CORTI provides project management, investment, and leasing and consultancy expertise to its institutional and private-investor clients, such as Deka, Axa REIM, Pramerica and Hampshire Investments. In the Czech capital of Prague, IMPACT-CORTI manages notable buildings including The GEMINI Business Center, LIGHTHOUSE Waterfront Towers and the Burzovni Palac, the home of the Prague Stock Exchange.

IMPACT-CORTI’s team of 160 professionals will join CBRE‘s well-established Property and Asset Management practice in Europe. In response to client demand, CBRE has particularly focused on the growth of these services in Central and Eastern Europe (CEE), underlined by its acquisition of Euro Mall Center Management, a CEE shopping centre management specialist, in mid-2011.

Michael Strong, Executive Chairman of Europe, Middle East and Africa, CBRE, said:

“Providing expert and integrated transactional and real estate management capabilities is becoming increasingly important to our regional and global client base. The acquisition of IMPACT-CORTI complements our existing property management offer and will allow us to further extend this important service across the region to meet growing demand.”

Andreas Ridder, Chairman, Central and Eastern Europe, CBRE, added:

“IMPACT-CORTI is renowned in the Czech Republic for its expert property management and project management practices. By adding their expertise and reach to our own growing capabilities, we are increasing the scope of the services we can provide to clients across the region.”

Jürg Zwahlen, Chairman of the Board, IMPACT-CORTI, commented:

“By joining CBRE, we are creating a huge opportunity for both our clients and our colleagues. As part of one of the most integrated and respected commercial real estate advisory companies in the world, we will be able to better …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

The Central Europe and Russia Fund, Inc. Announces Final Results of Tender Offer

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By Business Wirevia The Motley Fool

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The Central Europe and Russia Fund, Inc. Announces Final Results of Tender Offer

NEW YORK–(BUSINESS WIRE)– The Central Europe and Russia Fund, Inc. (NYSE: CEE) (the “Fund” or “CEE“) announced today that, in accordance with its tender offer for up to 5% of its issued and outstanding shares of common stock, which offer expired at 5:00 p.m. Eastern time on March 12, 2013, the Fund has accepted 654,331 properly tendered shares at a price per share equal to 98% of the Fund’s net asset value (“NAV“) as determined on March 13, 2013. The Fund normally calculates its NAV per share at 11:30 a.m. New York time on each day during which the New York Stock Exchange is open for trading. 9,528,823.493 shares of the Fund’s common stock, or 72.81% of its common stock outstanding, were tendered through the stated expiration date. The tender offer for the Fund was oversubscribed, meaning that pursuant to the terms of the tender offer, not all shares that were tendered were accepted for payment by the Fund. Under the final pro-ration calculations, 6.87% of the Fund’s shares that were tendered have been accepted for payment by the Fund. The shares accepted for payment will receive cash at a repurchase offer price of $36.82, which is equal to 98% of the Fund’s NAV as determined on March 13, 2013. Those shares that were tendered but not accepted for payment will continue to be held by their record owners.

For more information on the Fund, including the most recent month-end performance, visit www.dws-investments.com or call (800) 349-4281.

The Central Europe and Russia Fund, Inc. is a non-diversified, closed-end investment company seeking long term capital appreciation through investment primarily in equity and equity-linked securities of issuers domiciled in Central Europe and Russia. Because the Fund is non-diversified, it can take larger positions in fewer issues, increasing its potential risk. Investing in foreign securities, particularly those of emerging markets, presents certain risks, such as currency fluctuations, political and economic changes, and market risks. Any fund that focuses in a particular segment of the market will generally be more volatile than a fund that invests more broadly.

The shares of most closed-end funds, including the Fund, are not continuously offered. Once issued, shares of closed-end funds are bought and sold in the secondary market. Shares of closed-end funds frequently trade at a discount to NAV. The price of a fund’s shares is determined by a number of factors, several of which are beyond the control …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

VeriFone Announces Executive Appointments

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By Business Wirevia The Motley Fool

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VeriFone Announces Executive Appointments

SAN JOSE, Calif.–(BUSINESS WIRE)– VeriFone Systems, Inc. (NYS: PAY) , announced the appointment of Jennifer Miles to president, VeriFone Americas; Bulent Ozayaz to president, VeriFone Southern Europe, Russia, Middle East and Northern Africa; Johan Tjärnberg to president, VeriFone Europe and Southern Africa; and Eliezer Yanay to chief operations officer, effective today.

“VeriFone is committed to build on our customer focus and operational excellence,” said Richard McGinn, interim CEO of VeriFone. “VeriFone’s board of directors and I are proud to provide each of these proven executives with expanded responsibilities.”

Miles, 41, joined VeriFone in 2001 and led the significant growth of the company’s North American business, including Retail, Global Security and Vertical Solutions, over the past 10 years. She will now lead VeriFone’s business in North America, Latin America and the Caribbean.

Ozayaz, 39, joined VeriFone in 2006 and has served as general manager of the company’s North American Wireless Solutions and VeriFone Media businesses. He currently manages VeriFone’s operations in Southern Europe, Russia and Turkey and will now oversee an expanded sales territory that includes the Middle East and Northern Africa.

Tjärnberg, 37, joined VeriFone in 2012 through the acquisition of Point International and has served as Point’s CEO since 2010. In his seven years with Point, its payments-as-a-service offering saw significant growth and expansion into multiple European jurisdictions. Tjärnberg will lead VeriFone’s business in Europe — a consolidation of the Northern, Western and Central Europe regions — and Southern Africa.

Yanay, 52, joined VeriFone in 2006 and has led the company’s global R&D, supply chain and product management initiatives since 2011. In his previous role at VeriFone, Yanay was responsible for all operations and manufacturing in Israel, as well as business development, sales and marketing in Continental Europe, Southeastern Europe and Asia. As chief operations officer, he will now oversee the localization of the company’s global product portfolio, including responsibility for ensuring local-level customizations and certifications of the company’s global product lines. Yanay will also drive the centralization of local procurement to leverage the benefit of the company’s global purchasing scale.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for VeriFone Systems, Inc.

This press release includes certain forward-looking statements related to VeriFone Systems, Inc. within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on VeriFone management’s current expectations or …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

The Central Europe and Russia Fund, Inc. Announces Expiration and Preliminary Results of Tender Offe

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By Business Wirevia The Motley Fool

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The Central Europe and Russia Fund, Inc. Announces Expiration and Preliminary Results of Tender Offer

NEW YORK–(BUSINESS WIRE)– The Central Europe and Russia Fund, Inc. (NYSE: CEE) (the “Fund” or “CEE“) announced today the expiration and preliminary results of its tender offer for up to 654,331 of its shares of common stock, representing approximately 5% of the Fund’s issued and outstanding shares. The tender offer expired at 5:00 p.m. Eastern time on Tuesday, March 12, 2013.

Based upon current information, approximately 9,529,741 shares of the Fund’s common stock, or approximately 73% of its common stock outstanding, were tendered through the stated expiration date, including shares tendered pursuant to notices of guaranteed delivery. These numbers are subject to adjustment and should not be regarded as final. No more than a total of 654,331 properly tendered Fund shares will be accepted in exchange for cash, at a price equal to 98% of the Fund’s net asset value (“NAV“) per share as determined by the Fund today, March 13, 2013. The Fund normally calculates its NAV per share at 11:30 a.m. New York time on each day during which the New York Stock Exchange is open for trading. The final number of shares validly tendered and accepted pursuant to the Fund’s tender offer and the Fund’s tender offer price per share will be announced at a later date.

For more information on the Fund, including the most recent month-end performance, visit www.dws-investments.com or call (800) 349-4281.

The Central Europe and Russia Fund, Inc. is a non-diversified, closed-end investment company seeking long term capital appreciation through investment primarily in equity and equity-linked securities of issuers domiciled in Central Europe and Russia. Because the Fund is non-diversified, it can take larger positions in fewer issues, increasing its potential risk. Investing in foreign securities, particularly those of emerging markets, presents certain risks, such as currency fluctuations, political and economic changes, and market risks. Any fund that focuses in a particular segment of the market will generally be more volatile than a fund that invests more broadly.

The shares of most closed-end funds, including the Fund, are not continuously offered. Once issued, shares of closed-end funds are bought and sold in the secondary market. Shares of closed-end funds frequently trade at a discount to NAV. The price of a fund’s shares is determined by a number of factors, several of which are beyond the control of the fund. Therefore, a fund cannot predict whether its shares will …read more
Source: FULL ARTICLE at DailyFinance

History

Isotopic data show farming arrived in Europe with migrants

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By BronxKnight

For decades, archaeologists have debated how farming spread to Stone Age Europe, setting the stage for the rise of Western civilization.

Now, new data gleaned from the teeth of prehistoric farmers and the hunter-gatherers with whom they briefly overlapped shows that agriculture was introduced to Central Europe from the Near East by colonizers who brought farming technology with them….

Source:
ArchNews

Source URL:
http://www.eurekalert.org/pub_releases/2013-02/uow-ids020813.php

Date:
2-11-13

…read more
Source: FULL ARTICLE at History News Network – George Mason University

News, Politics, Government

Panetta defends military response in Libya attack

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Defense Secretary Leon Panetta said Thursday that the speed of the attack on the U.S. Consulate in Benghazi, Libya, last September kept U.S. armed forces from responding in time to save the four Americans who were killed.

Testifying for likely the last time on Capitol Hill before he steps down, Panetta defended the U.S. military’s response on a chaotic Sept. 11 day as the Obama administration tried to assess the threat from protests in Tunisia, Egypt, the Libyan capital of Tripoli and other countries.

He insisted that there were no specific signs of an imminent attack on the diplomatic mission that killed Ambassador Chris Stevens and three other Americans. But soon after the initial attack, Panetta dispatched various military teams to Benghazi, including Marines from Spain and a special operations force that was training in Central Europe.

He pushed back against questions about why more firepower, such as gunships or fixed-wing fighter jets weren’t sent. He said they were not in the vicinity and would have required at least nine to 12 hours to deploy.

“This was, pure and simple, a problem of distance and time,” Panetta said.

Panetta testified before the Senate Armed Services Committee with Army Gen. Martin Dempsey, chairman of the Joint Chiefs of Staff.

Dempsey reminded the committee that it was “9-11 everywhere” when the consulate was attacked and that U.S. armed forces were prepared to respond to a wide variety of threats around the world.

U.S. posts and facilities in many countries throughout Africa and southwest Asia were operating under heightened protection levels, he said.

“We positioned our forces in a way that was informed by and consistent with available threat estimates,” Dempsey said.

Panetta is retiring after a Washington career that has stretched over four decades, with years as a California congressman, budget chief, White House chief of staff to President Bill Clinton and CIA director who oversaw the hunt and killing of terrorist leader Osama bin Laden.

The Defense Department is bidding farewell to Panetta, who has served as defense secretary since June 2011, in a ceremony on Friday. The committee gave Panetta a round of applause as Chairman Carl Levin, D-Mich., praised the Pentagon chief’s integrity. President Barack Obama has nominated former …read more
Source: FULL ARTICLE at Fox US News

News, Politics, Government

Ex-BAE agent found guilty of manipulating evidence

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An Austrian court has found a former agent for Defense Contractor BAE Systems PLC guilty of tampering with evidence but innocent of the more serious charge of money laundering.

After pronouncing his verdict Thursday, Judge Stefan Apostol sentenced Count Alfons Mensdorff-Pouilly to a suspended two-month prison term.

Mensdorff-Pouilly was originally charged with paying out €12.6 million ($16.7 million) on behalf of BAE to contacts in Eastern and Central Europe in efforts to win contracts.

Prosecutor Michael Radasztics says he will appeal.

Mensdorff-Pouilly was charged in Britain in 2011 with conspiracy to corrupt in his efforts to secure contracts. But the charges were dropped after the company agreed to pay a multimillion-dollar fine to settle an arms export controls case with the U.S. Department of State.

Source: FULL ARTICLE at Fox World News

Science & Technology

Bugs need symbiotic bacteria to exploit plant seeds

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Aggregations of the red and black colored firebugs are ubiquitous under linden trees in Central Europe, where the bugs can reach astounding population densities. While these insects have no impact on humans, their African, Asian, and American relatives, the cotton stainers, are serious agricultural pests of cotton and other Malvaceous plants.
Source: FULL ARTICLE at Phys.org