May 31, 2005
Category: Uncategorized – Author: admin – 12:46 am
News Source
Hong Kong banking industry will launch two-factor authentication for Internet banking to protect customers from frauds, announced the Hong Kong Monetary Authority (HKMA) on Monday.
According to the requirement, banks offering high-risk retail Internet banking transactions will have two-factor authentication ready for their clients by June, 2005. Clients will need to adopt the new authentication if they want to conduct transactions through Internet.
The authority said there will be a customer education program to educate people with the significance, benefits and usage of thenew authentication.
William Ryback, the chief executive of HKMA, said the requirement is to strengthen the security controls of Internet banking, protect the customers from frauds and enable Internet banking to flourish under a safe and sound environment.
Internet banking service has developed fast in recent years andis accepted by many residents because of its convenience. The number of Internet banking accounts in Hong Kong reached 2.7 million in 2004.
Category: Uncategorized – Author: admin – 12:37 am
From is4profit.com
The term �corporate venturing� covers a range of mutually beneficial relationships between companies. The relationships range from those between companies within the same group, through those between unrelated companies, to collective investment by companies in other companies through a fund. The companies involved may be of any size, but such relationships are commonly formed between a larger company and a smaller independent one, usually in a related line of business.
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May 30, 2005
Category: Uncategorized – Author: admin – 3:32 am
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Source
Bank of America (BoA) is setting up its second outsourcing centre in India to undertake market research for its global capital markets and investment banking divisions. The centre, which is coming up at Andheri in Mumbai, will have a capacity to seat around 500 people.
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| The second outsourcing centre is part of a move by the second largest bank in the US to cut costs. BoA’s first outsourcing centre at Hyderabad has grown to nearly 1,000-strong team since it began operations in mid-2004. The Hyderabad centre works on the bank’s corporate and consumer accounts . |
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| BoA’s business process outsourcing operations in India are implemented through a wholly owned subsidiary-Continuum Solutions. Continuum is part of BoA’s global delivery centre of expertise and manages the bank’s offshore outsourcing activities. |
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| “The bank’s decision to establish the second research outsourcing unit was inspired by the performance of its Hyderabad centre and Mumbai has been chosen for easy availability of human resources for research purposes,” sources said. |
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| BoA’s investment banking services include capital-raising solutions, advisory services, derivatives capabilities, equity and debt sales and trading for clients. The bank has made expansion of investment banking operations a priority and plans to increase personnel, technology and market share. |
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| In 2004, BoA was the fifth most profitable company in the world, trailing Exxon, Shell, Citigroup and General Electric. Of the $14.1 billion profit earned last year, global capital markets and investment banking earned almost $2 billion. |
May 28, 2005
Category: Uncategorized – Author: admin – 2:43 am
From | Read more…
Wireless e-mail software maker and service provider Good Technology Inc., already one of the best-funded companies in Silicon Valley, has landed another $65 million in venture funding to bring the total amount raised over its five years to more than $200 million.
The new funding round, which one of the participants confirmed, comes only two months after NTP Inc., an Arlington, Va.-based patent holding company, invested an undisclosed amount in Good Technology as part of a licensing agreement. Advanced Equities Financial Corp., a Chicago investment banking boutique specializing in raising late stage financing for high-tech startups from high net worth individuals, raised $40 million of the $65 million round.
It’s unclear whether any of the money raised in the fundraising was used to buy out any of the previous investors in the Santa Clara, Calif.-based startup. But either way, the new financing could well indicate just how tough the public financing market is for technology companies if startups such as Good Technology bypass an initial public offering for yet another private round.
May 27, 2005
Category: Uncategorized – Author: admin – 2:09 am
By DAVID BLACK | From
THE UK led the world last year in the number of public flotations, and was No.1 in Europe in capital raised, according to Ernst & Young.
Its Global IPO Survey 2005 showed that the UK raised $6.8 billion (£3.75bn) across 191 transactions, with the main success story in the junior London market, AIM.
According to the survey: "Its combination of speed, market regulation and international outlook make an AIM IPO an attractive alternative to venture-capital or private-equity funding for domestic firms, while, for ambitious foreign companies, it is a stepping-stone to the international stage."
There were also upturns in France, Italy and Germany, with substantial improvements on 2003’s totals. In addition, both Ireland and Spain also did more than $1bn of IPO business.
Category: Uncategorized – Author: admin – 2:07 am
The Bank of Communications, China’s fifth-biggest state-owned commercial bank, plans to sell shares in Hong Kong as early as next month, state media reported Friday.
The initial public offering by the Shanghai-based bank is one of a spate of multibillion-dollar (euro) share listings by mainland based companies seeking to raise cash overseas.
Roughly $7 billion worth of China IPOs are expected in Hong Kong over the next couple of months, starting with Chinese coal producer China Shenhua Energy Co., which could raise as much as $3.63 billion if shares sell at the top end of its pricing range.
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