Wednesday, February 29, 2012
Fed: ATM users will no longer be stung by hidden charges
AAP General News (Australia)
02-20-2009
Fed: ATM users will no longer be stung by hidden charges
CANBERRA, Feb 20 AAP - The nation's central bank chief has warned retail banks against
imposing fees on their customers who use a competitor's ATM.
The actual cost of processing "foreign" transactions was less than 10 cents each, Reserve
Bank of Australian (RBA) Governor Glenn Stevens told a parliamentary committee.
Under new arrangements, soon to be introduced, an ATM owner will be able to charge
a fee provided they disclose the amount prior to the transaction.
"Use of another bank's ATMs will presumably attract a fee by that other …
Research and Markets Offers Report: China - Key Statistics, Telecom Market, Regulatory Overview and Forecasts
Wireless News
07-13-2011
Research and Markets Offers Report: China - Key Statistics, Telecom Market, Regulatory Overview and Forecasts
Type: News
Research and Markets announced the addition of the "China - Key Statistics, Telecom Market, Regulatory Overview and Forecasts" report to its offerings.
In a release, Research and Markets noted that report highlights include:
The Chinese telecom market is the largest in the world in terms of subscribers and second only to Japan in Asia Pacific in terms of revenue. The importance of the regulatory regime cannot be underestimated in this market where political and commercial considerations are closely intertwined. An industry restructure was mandated by the government in 2008 to create a more competitive environment across all sectors. The mobile sector is still expanding at over 15 percent per annum and 3G services are starting to gain momentum supported by a more mature value chain. Confronted with a continuous decline in the fixed-line market, the government has again intervened to set aggressive targets for broadband services.
This report presents key aspects of the China telecom market in 2011, including statistical data on the country. It includes an overview of the regulatory environment and covers market highlights as well as comprehensive statistics and fixed-line forecasts to 2016.
Key developments: strong mobile subscriber growth verging on 1 billion; continued decline in fixed-line telephony subscribers and revenue; non-voice revenue comprising 40 percent of total industry revenue; value added service revenue comprising 25 percent of total industry revenue; release of China's Twelfth 5 year plan.
Companies covered in this report include: China Mobile; China Telecom; China Unicom; China Netcom; China Satcom; China Tietong
Key Topics Covered:
1. Synopsis
2. Key statistics
3. Country Overview
3.1 Background
3.2 China's economy
4. Telecommunications market Progression
4.1 Background of China's telecom market
4.2 China's telecom market restructure in 2008
4.3 Overview of China's telecom market - 2008-2010
5. Telecommunications market sectors
5.1 Fixed lines and mobiles
5.2 Internet and broadband
6. Forecasts
6.1 Forecast fixed-line subscribers - 2011-2016
6.2 Forecasting methodology
7. Regulatory environment
7.1 Overview
7.2 Tenth Five-Year Plan (2000-2005)
7.3 Eleventh Five-Year Plan (2006-2010)
7.4 Twelfth Five-Year Plan (2011-2015)
7.5 E-Government
7.6 Ministry of Industry and Information Technology (MIIT)
7.7 China Internet Network Information Centre
7.8 World Trade Organisation accession
8. regulatory developments: 2010 - 2011
8.1 Roaming and long-distance fees simplified
8.2 Draft Telecom Law review
8.3 Industry Standards updated
8.4 Internet information watchdog established
Report information:
http://www.researchandmarkets.com/research/063a5e/ china_key_statis
((Comments on this story may be sent to newsdesk@closeupmedia.com))
Copyright 2011 Close-Up Media, Inc. All Rights Reserved.
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FED:Former governor-general Zelman Cowen dies
AAP General News (Australia)
12-09-2011
FED:Former governor-general Zelman Cowen dies
Sir Zelman died earlier this week in his home in Melbourne's leafy suburb of Toorak
with his wife by his side, the newspaper reported.
Sworn in during 1977 and appointed to the role by Malcolm Fraser, he was considered
to be one of Australia's top lawyers and a leader within the Jewish community.
But his work in the office of the governor-general was just as memorable.
In 2006, High Court Justice Michael Kirby said Sir Zelman had restored "calm" to the
office following a sharp divide that opened in the wake of Sir John Kerr's dismissal of
Gough Whitlam as prime minister.
"His greatest service to Australia was that he used his incumbency to bring a `touch
of healing' to settle the sharp divide," Justice Kirby said back in 2006 as he launched
Sir Zelman's memoirs.
Born on October 7, 1919, in Melbourne, Sir Zelman attended the University of Melbourne
before he served in the navy in World War II.
He advised the British military on legal matters, became a Rhodes Scholar at Oxford,
and returned to Australia in 1951 to take up a string of academic posts, and became a
top constitutional lawyer.
Later in life, he suffered from Parkinson's disease.
He first noticed symptoms of the disease nearly 15 years ago and was labelled Australia's
Mohammed Ali for his long and brave battle against it.
Upon news of his passing, former prime minster Malcolm Fraser told Fairfax that Sir
Zelman had "restored faith" in the governor-general's office.
Ms Gillard said he was a great Australian.
"He served his country in so many ways," she said.
"His public service touched so many, he will be sorely missed."
A date for a funeral service has not yet been confirmed.
AAP sbl/apm
KEYWORD: COWEN 2 MELBOURNE
� 2011 AAP Information Services Pty Limited (AAP) or its Licensors.
TelePacific Communications Acquires Covad Wireless
Wireless News
04-06-2011
TelePacific Communications Acquires Covad Wireless
Type: News
TelePacific Communications, a California-based CLEC providing integrated voice and data telecommunications services to the small and medium-sized business ("SMB") customer segment in California and Nevada, announced that it has received regulatory approval for and completed the acquisition of Covad Wireless, a broadband fixed wireless carrier operating in California, Nevada and the Chicago, Illinois area.
Through its acquisition of NextWeb, TelePacific now controls a WiMAX-featured wireless broadband network, a licensed microwave backhaul network, and a high bandwidth wireless network operating in licensed LMDS spectrum. The new network assets complement TelePacific's existing footprint and allows the company to broaden its product offerings in markets where it is already competitive. Further, the purchase supports TelePacific's strategy of investing in advanced broadband transport technologies.
TelePacific will also gain the benefit of approximately 3,500 profitable broadband fixed wireless business customers in California, Nevada and suburban Chicago.
"We are pleased to welcome Covad Wireless customers to the TelePacific family and look forward to introducing them to TelePacific's signature customer service," said Dick Jalkut, President and CEO of TelePacific. "The additional resources we gained through this acquisition - the fixed wireless network and experienced wireless team, have enhanced our ability to serve customers. Each new acquisition has made us stronger and TelePacific is well-positioned to expand its market share."
Future and existing TelePacific customers will benefit from increased availability of high bandwidth data products with symmetrical upload and download speeds up to 100 Mbps. In addition, new redundancy options and special event Internet access will be available. Customers will also enjoy fast installs because incumbent local exchange carrier (ILEC) loops will not be needed to deliver these services.
TelePacific extended employment offers to all Covad Wireless employees at the time of the acquisition close and is fortunate to have them supporting legacy Covad Wireless customers. TelePacific continues to be privately-held and financial terms of the deal were not disclosed.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
Copyright 2011 Close-Up Media, Inc. All Rights Reserved.
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FED:Defence still facing challenges: Smith
AAP General News (Australia)
12-14-2010
FED:Defence still facing challenges: Smith
Defence minister STEPHEN SMITH says his department is still struggling with financial matters.
Fairfax has reported that a confidential cable from the US embassy in Canberra .. obtained
by the WikiLeaks website .. suggests Australia may have to sell Defence assets and delay
major purchases in order to meet the department's budget.
Mr SMITH says that while newspaper reports aren't always accurate .. Defence is facing
a raft of challenges.
AAP RTV bsb/sb/af
KEYWORD: WIKILEAKS DEFENCE (CANBERRA)
� 2010 AAP Information Services Pty Limited (AAP) or its Licensors.
FED:Schools, former PMs and rabbits abound
AAP General News (Australia)
08-06-2010
FED:Schools, former PMs and rabbits abound
Prime Minister JULIA GILLARD has defended the government's economic credentials in
the wake of a damaging report into Labor's schools stimulus program.
A taskforce examining the problem-plagued Building the Education Revolution has found
costs were inflated by up to 12 per cent.
But the prime minister .. who was education minister when the BER was rolled out ..
is standing by her decision to invest 16.2 billion dollars in school halls .. libraries
and upgrades.
Ms GILLARD says she made a judgment about saving the country from recession by investing
in schools .. and that she would make it again today.
She's welcomed the taskforce's scrutiny but notes the report found just 2.7 per cent
of schools had valid complaints .. and its overall view that the program is delivering
much-needed infrastructure .. while achieving the primary goal of economic activity.
AAP RTV jcd/rl/dcc/crh
KEYWORD: POLL10 (CANBERRA)
� 2010 AAP Information Services Pty Limited (AAP) or its Licensors.
Qld: Person dead in house fire
AAP General News (Australia)
12-25-2009
Qld: Person dead in house fire
BRISBANE, Dec 25 AAP - One person is dead but another has been rescued in separate
Christmas Day house fires in Queensland.
Police said a resident was found dead after emergency services were called to a house
fire at Oakey, on the Darling Downs west of Brisbane, just before 2pm (AEST) on Friday.
"Initial reports indicate that a resident has been located deceased by Queensland Fire
and Rescue Service," police said in a statement.
Police are at the scene but no further information is immediately available.
Meanwhile, neighbours have rescued an elderly woman from a house fire in the Ipswich
suburb of Blackstone shortly after 5am on Christmas Day.
"A 73-year-old woman was trapped inside but neighbours forced entry to the house and
were able to rescue her," police said.
She was taken to the Royal Brisbane Women's Hospital with burns where she is listed
as being in a stable condition.
"The remaining residents were not injured however, the house was gutted."
The fire is not believed to be suspicious.
AAP stg/ash/cdh
KEYWORD: HOUSE
2009 AAP Information Services Pty Limited (AAP) or its Licensors.
QLD: Man killed in shooting on Gold Coast
AAP General News (Australia)
08-15-2009
QLD: Man killed in shooting on Gold Coast
BRISBANE, Aug 15 AAP - Police are appealing for witnesses after a man was shot dead
at Burleigh Heads on the Gold Coast.
The 35-year-old man was killed and a second man was injured in the shooting near a
McDonald's restaurant on the Gold Coast Highway between Christine Ave and Fifth Ave.
Motorists have been warned there will be long delays as traffic is diverted around
scene of the shooting.
Police have not released the name of the man who died.
AAP dac/ldj
KEYWORD: SHOOTING UPDATE
2009 AAP Information Services Pty Limited (AAP) or its Licensors.
HighLights of the AAP National Wire at 19:30, April 5 =2
AAP General News (Australia)
04-05-2009
HighLights of the AAP National Wire at 19:30, April 5 =2
LONDON - Acclaimed Australian author Colleen McCullough hopes a British musical production
of her best-selling romance novel The Thorn Birds will be a vast improvement on the TV
mini series version. (UK McCullough to come)
CANBERRA - Employment services workers will stage demonstrations around the country
in protest against the federal government's $4 billion overhaul of the jobs network. (Job
Network)
CANBERRA - Australia must seriously consider whether to send more troops to Afghanistan
in light of a modest increase in NATO's commitment, the federal opposition says. (Afghan
Aust)
SYDNEY - A NSW Nationals MP wants immediate $10,000 grants for farmers and small businesses
affected by floods on the state's mid-north coast. (Rain NSW Fraser)
BRISBANE - There is a lull in the storms that have been battering southeast Queensland
since Thursday. (Wind Qld Wrap)
PERTH - West Australian farmers have been attacked for using a photo of a roadside
cross in their campaign for a "no" vote at the state's referendum on daylight saving.
(Daylight WA)
SYDNEY - A former Customs official convicted of leaking confidential reports about
failures in airport security to the media says the federal government's proposed new whistleblower
laws are not enough protection. (Kessing)
BRISBANE - A man is dead and another missing after their boat was found aground on
rocks in southeast Queensland. (Search Wrap)
SYDNEY - Sydney has enough undeveloped or greenfield land to supply the housing market
for the next five years, the NSW government says. (Housing NSW)
CANBERRA - Students have rejected criticism that some of them are double-dipping cash
handouts from the federal government's stimulus package. (Bonus)
CANBERRA - The Australian Workers Union (AWU) will visit major steel centres around
the country as part of a plan to save the beleaguered industry. (Steel)
BRISBANE - Three Belgian tourists travelling in the Aussie outback unknowingly sparked
a police search after a friend feared them missing. (Belgians)
BRISBANE - A man has suffered horrific facial injuries and will undergo reconstructive
surgery after a horse kicked him in the face. (Horse)
BRISBANE - Four men have been charged with assaulting or obstructing police in two
separate incidents in Queensland. (Assault)
CANBERRA - A young Canberra woman had a knife held to her throat as she was sexually
assaulted in a central business district car park early on Sunday. (Knife)
AAP mn
KEYWORD: HIGHLIGHTS NATIONAL UPDATE 2 SYDNEY
2009 AAP Information Services Pty Limited (AAP) or its Licensors.
NSW: Catholic school teachers to hold stop-work action
AAP General News (Australia)
12-01-2008
NSW: Catholic school teachers to hold stop-work action
SYDNEY, Dec 1 AAP - Teachers at up to 600 Catholic schools around NSW will hold stopwork
meetings on Tuesday in support of a five per cent pay rise claim.
The Independent Education Union expects teachers to stop work for one hour from 9am
(AEDT) to discuss a current 2.5 per cent pay rise offer.
"Catholic ... school employers have followed the NSW Department of Education's lead
and offered the Independent Education Union a 2.5 per cent 'interim' increase from January
1," union general secretary Dick Shearman said in a statement on Monday.
"(The) stopwork allows teachers to demonstrate opposition to the employer's refusal
to consider our claim and the possibility of losing existing working conditions under
a new award to apply from 2009."
The move follows recent industrial action by NSW public school teachers who are protesting
over wage rises and changes to the teacher transfer system.
Public teachers held a two-hour stop work meeting last month and have not ruled out
a two-day strike at the start of the next school year if their concerns are not met.
Mr Shearman said Catholic school teachers would also consider further action, possibly
a one-day strike in February, if they don't achieve a satisfactory outcome.
Supervision will be provided for students during Tuesday's stopwork meeting, the union said.
AAP ad/evt/de
KEYWORD: TEACHERS NSW
2008 AAP Information Services Pty Limited (AAP) or its Licensors.
FED: Chaser team dodges charges over APEC stunt =2
AAP General News (Australia)
04-28-2008
FED: Chaser team dodges charges over APEC stunt =2
Mr Cowdery said the team had carefully planned the stunt the previous day and had always
intended to stop before the restricted zone.
"The evidence establishes that the Chaser's plan, in what was considered the unlikely
event that they were allowed to pass through any gates, was to stop short of the restricted
area and to get Licciardello out of the vehicle," he said.
Instead, police had waved the convoy through, giving tacit approval for entry.
"Police permission, in fact, constitutes special justification for entry," Mr Cowdery said.
"Accordingly, there is no reasonable prospect of conviction and for that reason the
prosecutions should not proceed."
Mr Cowdery said the team believed they would not gain access to the lockdown zone and,
when they did, that it was with the permission of police.
Prosecutors could not prove beyond reasonable doubt that this was not the case, he said.
In addition, 10 of the accused were following directions from Morrow, therefore giving
them a legitimate work-related purpose for being in the area.
A magistrate was unlikely to convict Morrow, because he had made an honest error and
was of otherwise good character, Mr Cowdery said.
The charges against Morrow, Licciardello, Nathan Earl, Giles Hardie, Lauren Howard,
Geoffrey Lye, Alexander Morrow, Benson Simpson, Esteban Alegria, Mark Kordi and Rodrigo
Pena will be formally withdrawn tomorrow in Sydney's Downing Centre Local Court.
The stunt was voted Best Television Moment at the MTV Australia awards last night.
AAP ajc/wjf/jl/cdh
KEYWORD: CHASER LEAD 2 SYDNEY
2008 AAP Information Services Pty Limited (AAP) or its Licensors.
NSW: Coonamble braces for rising flood waters
AAP General News (Australia)
12-24-2007
NSW: Coonamble braces for rising flood waters
Flood waters have destroyed fences and killed stock around Coonamble in north-western
NSW .. as the town faces the prospect of being cut off by the rising Castlereagh river
tonight.
The town's several thousand residents could be isolated for up to a week .. with more
than 200mm of rain falling in the area in the past few days.
The river is predicted to peak at just under 5.2 metres at 9:00 o'clock (AEDT) tonight
.. but isn't expected to breach the levee and flood the town itself.
SES spokesman PHIL CAMPBELL says flood water has already isolated dozens of outlying
properties and many local roads are closed including the Castlereagh Highway north of
Coonamble.
AAP RTV kd/ajc/sw/bart
KEYWORD: STORMS NSW (SYDNEY)
2007 AAP Information Services Pty Limited (AAP) or its Licensors.
Qld: Light plane missing in far north Qld
AAP General News (Australia)
08-17-2007
Qld: Light plane missing in far north Qld
BRISBANE, Aug 17 AAP - Rescuers are stepping up an air-sea rescue operation for a light
plane and its pilot missing in far north Queensland since yesterday.
The male pilot was due to land his single engine fixed-wing turbo prop in Tully at
4pm (AEST) yesterday, one hour after taking off from Ingham, the Australian Maritime Safety
Authority (AMSA) said today.
AMSA spokeswoman Tracey Jiggins said the pilot had taken off in bad weather.
"Due to inclement weather and heavy cloud cover, it is anticipated that the pilot would
have either tracked between Halifax on the eastern side of Hinchinbrook Island or via
the Cardwell Channel following the road to reach Tully," she said.
Three helicopters are searching between Ingham and Tully while police carry out ground searches.
Two boats are also combing Hinchinbrook Island for any signs of the plane.
Another three fixed-wing aircraft are expected to join the search later today.
The aircraft is described as an eight-seater Fletcher, white in colour with two blue
horizontal stripes along the fuselage.
Anyone with information should contact AMSA's rescue coordination centre on 1800 815 257.
AAP rm/pjo/jt/mn
KEYWORD: PLANE (PIX AVAILABLE)
2007 AAP Information Services Pty Limited (AAP) or its Licensors.
Fed: Senator loses battle with cancer=3
AAP General News (Australia)
04-02-2007
Fed: Senator loses battle with cancer=3
Senator Ferris, who has two sons, was elected to federal parliament in 1996 and was
appointed government whip in the upper house in August 2002.
In a statement, Senator Minchin said his colleague had died peacefully in hospital
where she had been for several weeks, supported by her family and close friends.
"Jeannie will be sadly missed by her family, her many friends and parliamentary colleagues,"
Senator Minchin said.
"Jeannie was an extraordinary human being who served her nation, her state and her
party with great distinction."
Senator Minchin said Senator Ferris had undergone cancer treatment in 2006 and had
displayed great courage in returning to parliament afterwards.
Funeral arrangements would be advised as soon as possible, he said.
Messages of condolence for Senator Ferris' sons, Robbie and Jeremy, and other family
and friends could be sent to her Parliament House office, he said.
AAP dcr/sb/it/de
KEYWORD: FERRIS 3 CANBERRA
2007 AAP Information Services Pty Limited (AAP) or its Licensors.
Tas: Bullimore nears Hobart ahead of record attempt
AAP General News (Australia)
12-01-2006
Tas: Bullimore nears Hobart ahead of record attempt
HOBART, Dec 1 AAP - British sailor Tony Bullimore is within eyesight of Tasmania's
south-west cape as he nears Hobart ahead of his bid to break the solo world circumnavigation
record.
The 67-year-old English yachtsman's latest website report says he is hopeful of reaching
Hobart before nightfall.
"If we can get there before nightfall, well and good," he writes.
"If we are later (crossing Storm Bay), then I plan to hold off until first light on Saturday."
Interest in Bullimore's latest visit to Australia has been intense since the failure
earlier this month of communications aboard his yacht Doha 2006, as it sailed across the
Indian Ocean from Qatar.
With satellite communications down, there were concerns Bullimore and his four crew
had run into strife.
Bullimore's boat left the West Australian port of Albany last Friday but the final
leg of the journey has not been trouble-free.
He says there was a "slight problem" with a running backstay yesterday when a shackle
"exploded with a bang".
"No drama, the boys soon had the problem fixed, but we cut down our speed in these
short, sharp seas," he says.
"We are currently doing 13 knots with just a headsail up, but once the wind goes a
little further round we will put up more canvas."
Bullimore will spend up to two weeks in Hobart while he prepares the 31-metre Doha
2006 for his record attempt.
He hopes to sail around the world in 70 days, breaking the current record of 71 days,
14 hours, 18 minutes and 33 seconds set last year by Dame Ellen MacArthur.
Bullimore, a controversial figure in Australian sailing, was plucked from the Southern
Ocean in 1997 in a $6 million Australian navy rescue operation after spending five days
trapped in the hull of his upturned yacht.
AAP rgr/jt
KEYWORD: BULLIMORE
2006 AAP Information Services Pty Limited (AAP) or its Licensors.
Vic: Four-wheel-drive rolls and hits tree, man dead
AAP General News (Australia)
04-25-2006
Vic: Four-wheel-drive rolls and hits tree, man dead
A 31-year-old Victorian man is dead .. and two other men have serious injuries .. after
their vehicle rolled over and hit a tree.
Police say the men were in a four-wheel-drive in Croydon .. in the city's east .. when
the accident occurred this afternoon.
They say the driver .. a Kilsyth man .. died at the scene .. while paramedics rushed
the other men .. aged 49 and 36 to The Alfred hospital.
The fatality takes the state's road toll to 97 .. down on the 124 dead at the same
time last year.
AAP RTV dr/wz
KEYWORD: TOLL VIC (MELBOURNE)
2006 AAP Information Services Pty Limited (AAP) or its Licensors.
Tuesday, February 28, 2012
SA: Firefighters monitoring Eyre Peninsula fire
AAP General News (Australia)
12-28-2005
SA: Firefighters monitoring Eyre Peninsula fire
ADELAIDE, Dec 28 AAP - Firefighters are monitoring a blaze on South Australia's Eyre
Peninsula which has burnt about 18,000 hectares of scrub.
The fire at Pinkawillinie on the Eyre Peninsula and three separate blazes near the
Billiatt Conservation Park about 150km north-east of the capital are of concern to firefighters
who battled more than 60 small-scale fires yesterday.
Most fires are believed to have been started by lightning, with the Bureau of Meteorology
reporting about 14,500 lightning strikes across the state yesterday.
A SA Country Fire Service spokesman said additional crews had been sent to fight the
Pinkawillinie fire and those near the Billiatt park today, supported by waterbombing aircraft.
"The majority of the fires across the state are currently contained with the only ones
of significant concern being adjacent Billiatt Conservation Park near Karoonda and at
Pinkawillinie," a spokesman said.
Three fires were burning adjacent the Billiatt Conservation Park, the largest of the
three at Charleston Road, which has burnt 1,000 hectares of land.
AAP sl/rj/de
KEYWORD: BUSHFIRES SA DAYLEAD
2005 AAP Information Services Pty Limited (AAP) or its Licensors.
Monday, February 27, 2012
Vic: Man dies in skiing fall
AAP General News (Australia)
08-23-2005
Vic: Man dies in skiing fall
MELBOURNE, Aug 23 AAP - A 36-year-old NSW man died today when he slammed into trees
on a run meant for expert skiers at Victoria's Mt Hotham.
Police believe the man fell on an advanced "black" level ski slope off Spargo's Run
at about 11.40am (AEST).
A police spokesman said it appeared the man's legs hit a tree at the bottom of the slope.
His head then struck a second tree and he rolled over an embankment into a creek.
Friends tried to assist, but the man he died at the scene.
His identity is yet to be released.
The death is the second in a fortnight in the Victoria's alps, after a 12-year-old
South Australian boy was killed after skiing into a tree at Falls Creek on August 13.
The Alpine Resort Management Board would not comment when contacted today.
AAP kn/mp/it/de
KEYWORD: SKIER
2005 AAP Information Services Pty Limited (AAP) or its Licensors.
Kiumbi, Angered, Retreats into the Sky
Formerly Kiumbi had regular commerce with people. But the people disobeyed him, eating eggs that he had ordered them not to eat. They did this because they were cheated by a person whose name was Kiriamagi. As a result, God withdrew himself to a distant abode. Now the people were alone, without fellowship with God. But he sometimes visited them.
People attempted to build a tower to reach God's place and thereby attain the former fellowship with him. But the higher they built, the farther God's place receded.
Eventually, God punished the people with a severe famine, during which all the people died except two youths, a boy and a girl. All the people on earth descend from this pair. Since then, man's fellowship with God has been remote, and communication with him has to be sought with the ancestors who are closer to him than the living members of the society.
OCG Technology and NetImpact Holdings Terminate Merger Talks, Business Relationship to Continue.
NEW ROCHELLE, N.Y. -- OCG Technology, Inc. (BULLETIN BOARD: OCGT) today announced that it has terminated merger talks with NetImpact Holdings, Inc., . In lieu of the merger, OCGT has agreed to NTHD's request for OCGT to provide software implementation and enhancement services, licenses for use of OCGT software, staffing and training for personnel in selected countries where needed to supplement NTHD's technology for a major multi-year international healthcare information management program. NTHD's program revenue is projected to exceed $50,000,000 annually.
On November 8 the companies announced that they had entered into a letter of intent for OCGT to acquire NTHD in an exchange of stock. Subsequently, the companies agreed that the time and effort required by both companies to prepare for the international healthcare project did not allow sufficient time to devote to the merger. Therefore, merger talks have been terminated.
"The interests of our shareholders are best served by terminating the merger talks and continuing and expanding our business relationship with NetImpact," stated Edward C. Levine, President of OCGT. "The potential revenues for OCGT from this multi-year program should make OCGT a very profitable company," added Levine.
OCGT's unique technology, the PrimeCare(TM) Patient Management System ("PrimeCare(TM) System"), acquires medical information and data at the point of origin from the patient, physician, and/or staff and analyzes that data in real time while creating an extensive database for outcomes studies.
OCGT and its wholly owned subsidiary, PrimeCare Systems, Inc. ("PSI") developed, own, maintain, update, expand and market the PrimeCare(TM) System and several related Internet sites that use various sections of the PrimeCare(TM) System: http://www.primecareontheweb.com/, http://www.yourowndoctor.com/ and http://www.yourownhealth.com/.
NTHD's technology comprises a suite of healthcare-oriented analytical modules that can operate independently or as an integrated data warehouse with comprehensive decision support capabilities. The suite focuses on patient, provider, outcomes, diagnosis, treatment, and financial data.
"Safe Harbor" Statement:
The statements that are not historical facts contained in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and OCGT intends that such forward-looking statements be subject to the safe harbors created thereby. These forward-looking statements include predictions, estimates and other statements that involve a number of risks and uncertainties any, or all, of which could cause actual results to differ materially from any future performance suggested herein. While this outlook represents OCGT's current judgment on the future direction of the business, such risks and uncertainties may individually, or mutually, impact the matters herein described, including but not limited to product acceptance, economic, competitive, governmental, results of litigation, technological and/or other factors, which are outside the control of OCGT as well as those risks and uncertainties detailed in the Company's Security and Exchange Commission filings.
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X78290403
Contact: Jeffrey P. Nelson, Executive Vice President of OCG Technology, Inc., +1-914-576-8464, ext. 21, jnelson@pcare.com; James L. Tolley, Executive Vice President of NetImpact Holdings. Inc., +1-941-346-3400, jltolley@home.com
Website: http://www.ocgt.com/ http://www.pcare.com/ http://www.netmpact.com/ http://www.yourownhealth.com/ http://www.yourowndoctor.com/ http://www.primecareontheweb.com/
Sunday, February 26, 2012
Another all business class service.
Provided by 7DAYS.ae
Lufthansa German Airlines has announced it be will running flights from Dubai to Munich six times a week from May 1 until October 28 on its A319 Business Executive Jet service in an all business class configuration
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