Monthly Archives: October 2015

Huawei’s Better Connected Smart Grid Enhances Energy Efficiency

Ethiopia Day and Huawei Electric Power Summit 2015 Held in Ethiopia’s Capital

ADDIS ABABA, Ethiopia, Oct. 29, 2015 /PRNewswire/ — Huawei, together with the Ministry of Water, Irrigation and Electricity of Ethiopia, hosted the Ethiopia Day and Huawei Electric Power Summit 2015 themed “Better Connected Smart Grid, Greater Energy Efficiency” on October 28 in Addis Ababa, Ethiopia.

As one of the key events at the World Energy Executive Assembly and World Energy Leaders’ Summit 2015 organized by the World Energy Council (WEC), the event gathered industry experts and senior executives of global electric power companies to discuss emerging industry trends and issues. Topics of discussion included improvements in new energy conversion efficiency, reduction of line losses in long-distance transmission, and the utilization of ICT, sensors, measurement, and control technologies to improve the operation and management efficiency of electric power companies.

Jerry Ji, President of Energy Industry, Enterprise Business Group, Huawei, delivered a keynote speech at the Summit. He said, “Enhancing energy efficiency throughout the entire process, which includes electric power generation, transmission, distribution, and consumption has become a common goal for electric power companies around the world. With Huawei’s Fully-connected Smart Grid Solution based on innovative ICT infrastructure, these companies can build safe, reliable, environmentally friendly, and sustainable power grids to improve energy and operational efficiency.” He went on to highlight that contribution from channel partners is important to the ecosystem as it enables a better connected smart grid that adopts an open architecture. He also said, “In line with its Business-Driven ICT Infrastructure (BDII) guiding principle, Huawei is committed to building a smart grid value chain by focusing on ICT infrastructure and implementing its ‘being integrated’ strategy. With this, Huawei fully collaborates with its partners in the areas of technology, hardware, software, and services to enable joint innovations, helping customers in the electric power industry achieve business success.”

The national institution responsible for generating and supplying electricity in Ethiopia, Ethiopian Electric Power (EEP) set a long-term development strategy to increase hydropower supply in the country, include more energy sources in existing grids, and enhance the digitalization of its grids. Commentating on electric power development, Mr. Mekuria Lemma, Head of Strategy and Investment of EEP said, “Ethiopia is abundant in natural energy resources. However, hydropower, solar and wind energy currently only account for less than five percent of the country’s total energy generation. We believe that these resources make up the future backbone of electric power development in our country.”

At the Summit, Huawei showcased its Fully-connected Smart Grid Solution in both a corporate operation scenario and electricity operation scenario. Demonstrations in electricity generation, transmission, transformation, distribution, and consumption were provided to show how innovative ICT infrastructure helps electric power companies construct safe, reliable, environmentally friendly, and sustainable power grids that improve their energy and operational efficiency. Huawei also showcased its latest Advanced Metering Infrastructure (AMI) Solution that provides a well-designed customer management system to help electric power companies improve operational efficiency. The AMI Solution leverages Hi-Power Line Carrier (PLC) communication, Internet of Things (IoT) gateways and platforms to support enormous volumes of intelligent terminal connections, convenient installations, and the compatibility and adaptability of different intelligent terminals.

In the electric power industry, Huawei has provided services to more than 160 power companies around the world, covering more than 100,000 substations. Huawei’s AMI Solution has helped an African power company enable real-time electricity fee settlement, which previously took the company two to three months to complete. In Thailand, Huawei’s Power Transmission and Transformation Solution helped the Provincial Electricity Authority (PEA) build a secure high-speed grid communications network to facilitate the construction of smart grids. Huawei’s Smart PV Plant Solution has also helped a 20 MW PV power plant in Trowbridge in the United Kingdom increase electricity generation while improving its operational and management efficiency. In China, Huawei has worked with China Southern Power Grid (CSG) to construct its eLTE ultra-broadband wireless smart power distribution network with millisecond latency to support communications requirements of services such as telemetering, remote signaling, remote control, video surveillance and multi-media trunking services that require high bandwidth.

About Huawei

Huawei is a leading global information and communications technology (ICT) solutions provider. Our aim is to build a better connected world, acting as a responsible corporate citizen, innovative enabler for the information society, and collaborative contributor to the industry. Driven by customer-centric innovation and open partnerships, Huawei has established an end-to-end ICT solutions portfolio that gives customers competitive advantages in telecom and enterprise networks, devices and cloud computing. Huawei’s 170,000 employees worldwide are committed to creating maximum value for telecom operators, enterprises and consumers.

Please visit Huawei online at www.huawei.com or follow us on:

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McDermott’s Ghana Joint Venture Receives Regulatory Approval

CAPE TOWN, South Africa and ACCRA, Ghana, Oct. 28, 2015 (GLOBE NEWSWIRE) — McDermott International, Inc., (NYSE:MDR) today announced it has received regulatory approval for its McDermott Marine Construction Ghana Limited (MMCGL) joint venture to pursue key offshore opportunities in Ghana. McDermott and MMCGL officials made the announcement during the 2015 Africa Oil Week in Cape Town, South Africa.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a408a347-be82-4e70-ba0d-1db71a9b0ee5

The Petroleum Commission Ghana notified MMCGL that it has been granted regulatory approval to develop contracting abilities to support the country’s burgeoning subsea and offshore engineering, procurement, construction and installation (EPCI) industry.

“This critical approval opens the way for McDermott’s participation for growth in Ghana with partner Hydra Group of Accra,” said Robert Gillespie, McDermott’s Commercial Director for Europe and Africa. “From its inception, the goal for the MMCGL joint venture is to support local growth and experience transfer in Ghana to ensure delivery of effective offshore solutions.”

Delali Otchi, CEO of Hydra Group, said the important regulatory approval “is just the beginning for the MMCGL joint venture to bring local and international expertise in support of the development and growth of Ghana’s offshore oil and gas industry.”

Forward-looking statement
In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, McDermott cautions that statements in this press release which are forward looking, and provide other than historical information, involve risks, contingencies and uncertainties that may impact McDermott’s actual results of operations. These forward-looking statements include, among other things, statements about the expected benefits of MMCGL receiving regulatory approval to pursue offshore opportunities in Ghana. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: our inability to successfully execute on contracts in backlog, changes in project design or schedules, the availability of qualified personnel, changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and business partners, difficulties executing on projects and changes in industry norms. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. For a more complete discussion of these and other risk factors, see McDermott’s annual and quarterly filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2014 and subsequent quarterly reports on Form 10-Q. This press release reflects management’s views as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.

About McDermott
McDermott is a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide. The Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex Offshore and Subsea oil and gas projects to help oil companies safely produce and transport hydrocarbons. Our clients include national and major energy companies. Operating in more than 20 countries across the world, our locally focused and globally integrated resources include approximately 11,700 employees and contractors, a diversified fleet of specialty marine construction vessels, fabrication facilities and engineering offices. We are renowned for our extensive knowledge and experience, technological advancements, performance records, superior safety and commitment to deliver. McDermott has served the energy industry since 1923 and is listed on the New York Stock Exchange. To learn more, visit our website at www.mcdermott.com.

McDermott International, Inc.
Media Relations
Richard Goins, 281.870.5932
Director, Global Communications
rgoins@mcdermott.com

Omidyar Network Report Reveals Disruption in Emerging Market Credit Score Business

“Big Data, Small Credit” finds consumers accepting of new business models that use non-financial data to assess creditworthiness

REDWOOD CITY, California, Oct. 26, 2015 /PRNewswire — Omidyar Network today released “Big Data, Small Credit: The Digital Revolution and Its Impact on Emerging Market Consumers”, a research report that analyzes a new category of technology enterprises that are disrupting the traditional way of assessing consumer credit risk in emerging markets. Using non-financial data—such as social media activity and mobile phone usage patterns—complex algorithms and big data analytics are delivering a quicker, cheaper, and more effective credit assessment of consumers who lack credit histories and were invisible to lenders before.

“The financial services industry is on the brink of a new era, where harnessing the power of digital information to serve new segments is becoming the new normal,” said Mike Kubzansky, partner at Omidyar Network. “Companies in the ‘Big Data, Small Credit’ space are an example of how this paradigm shift can unlock an entire new pool of customers for formal lenders, while helping consumers in emerging markets get the services they need to improve their lives.”

The report explores how the digital revolution and the resulting explosion of data have converged to significantly enlarge the addressable consumer credit market for traditional and alternative lenders in developing markets. In India alone, this new approach to risk assessment can potentially bring between 100 and 160 million new customers to the consumer credit market, which would mean tripling the current addressable market for retail lenders in the country.

“Big Data, Small Credit” also delves into the opportunities and challenges ahead for these new businesses. It shares the results of an in-depth consumer survey with early adopters in Kenya and Colombia by exploring pressing questions around privacy and trust, and provides recommendations to key stakeholders on how to reap the benefits of this new, evolving field.

“Listening to the early adopter consumer is at the crux of realizing the potential of the ‘Big Data, Small Credit’ business,” said Arjuna Costa, investment partner at Omidyar Network. “Our survey shows that consumers in emerging markets have a clear understanding of the privacy tradeoffs this type of solution entails and seven out of 10 are willing to share information they consider private in order to get a loan.”

The consumer survey found that early adopters can articulate, differentiate between, and rank different types of private information. They are also younger, stably employed, and more educated and tech savvy than the average population of both surveyed countries—an attractive consumer segment for any lender. However, when faced with emergencies and cash-flow challenges, the large majority still resort to an informal source:

  • 88 percent of respondents in Kenya and 59 percent in Colombia go to family and friends for loans
  • 76 percent of respondents in Kenya and 34 percent in Colombia use other informal credit sources, such as pawnshops, loan sharks, etc.1

While the report indicates that it is still early days for this new business and most providers are still experimenting with algorithms, models, and data sources, both the economic and social benefits of this approach can already be ascertained. In the world’s six biggest emerging economies—China, Brazil, India, Mexico, Indonesia, and Turkey—this new technology has the potential to help between 325 and 580 million people gain access to formal credit for the first time. However, in order to capitalize on this opportunity, the report recommends a concerted industry effort to build an ecosystem in which these enterprises can continue to develop. In particular, it encourages incumbents in the financial services sector to enhance their existing risk assessment platforms with these new technologies, and advises policymakers to balance the need for consumer protection with the imperative to not regulate this nascent industry too soon.

As part of its financial inclusion initiative, Omidyar Network has been a long-time investor in solutions directed at reducing the high cost of credit assessment in emerging markets, including early-stage investments in pioneering companies in the space, such as Lenddo, Cignifi, and RevolutionCredit.

The full report can be downloaded at: www.omidyar.com/spotlight/what-big-data-small-credit

About Omidyar Network
Omidyar Network is a philanthropic investment firm dedicated to harnessing the power of markets to create opportunity for people to improve their lives. Established in 2004 by eBay founder Pierre Omidyar and his wife Pam, the organization invests in and helps scale innovative organizations to catalyze economic and social change. Omidyar Network has committed more than $872 million to for-profit companies and nonprofit organizations that foster economic advancement and encourage individual participation across multiple initiatives, including Consumer Internet & Mobile, Education, Financial Inclusion, Governance & Citizen Engagement, and Property Rights. To learn more, visit www.omidyar.com, and follow on Twitter @omidyarnetwork #PositiveReturns.

1 Numbers exceed 100 percent as consumers were allowed to select multiple options in their survey responses.

MoneyGram Announces Collaboration with Econet Wireless

Zimbabweans now have 24/7 access to remittances on the EcoCash network

DALLAS, Oct. 21, 2015 / PRNewswire — MoneyGram (NASDAQ: MGI), and Econet Wireless, the leading mobile operator in Zimbabwe, today announced the launch of a new service that enables customers from more than 200 countries and territories worldwide to transfer funds via EcoCash, Zimbabwe’s leading mobile money transfer solution.

The new offering means that more than 4.5 million EcoCash subscribers and MoneyGram customers can  receive funds across the EcoCash network at any time, day or night, and from any place. Consumers can also access MoneyGram’s services at more than 20,000 EcoCash locations across Zimbabwe or at any one of MoneyGram’s agent locations worldwide.

The launch was celebrated at a press conference on October 21, 2015, in Zimbabwe, which was attended by Herve Chomel, MoneyGram’s vice president for Africa and Anton Luttig, MoneyGram’s regional director of southern and eastern Africa.

“Our activation with EcoCash, a leader in Zimbabwe’s mobile money realm, furthers MoneyGram’s vision of expanding our self-service offerings to ensure an unparalleled customer experience,” Chomel said. “With the service, we are offering millions of consumers, many in remote areas of the country, access to a fast, reliable and secure method of transferring money, much of which is used to purchase life essentials and daily expenses.”

EcoCash is the second fastest growing mobile money solution in Africa.

“We have a strong presence in Zimbabwe’s digital environment, and we are excited to link up with MoneyGram to utilize the company’s global footprint and bring more options to our consumers,” says Douglas Mboweni, CEO of Econet Wireless. “In-wallet remittances are becoming more topical, not only in driving access to international remittances for the previously unbanked, but also driving further financial inclusion as we link the diaspora and home. By working with MoneyGram, we will help reach more consumers who rely on our domestic and international remittance services to handle their daily financial needs.”

Consumers have access to MoneyGram in more than 50 African countries, and the company is working to support economic development across the continent through expanded alternative channels like the EcoCash service.

#moneygramnews

About MoneyGram
MoneyGram is a global provider of innovative money transfer and payment services and is recognized worldwide as a financial connection to friends and family. Whether online, or through a mobile device, at a kiosk or in a local store, we connect consumers any way that is convenient for them. We also provide bill payment services, issue money orders and process official checks in select markets. More information about MoneyGram International, Inc. is available at moneygram.com.

Nasdaq’s BWise Releases New Information Security Solution

BWise(R) InfoSec Sets New Standards for Ease of Implementation, Integration and Use

NEW YORK, Oct. 21, 2015 (GLOBE NEWSWIRE) — Nasdaq’s BWise (Nasdaq:NDAQ), a global leader in enterprise Governance, Risk Management and Compliance (eGRC), today announced the release of its new solution: BWise(R) Information Security (InfoSec), at its Global BWise Customer Summit in New York.

BWise(R) InfoSec will help enterprises ensure they meet all relevant information security regulations, industry standards and contractual obligations. This will enable them to manage the constant stream of changes in their IT environment more easily.

The solution, based on the analyst-recognized BWise(R) GRC platform, helps enterprises protect themselves from IT risks, reducing the burden of IT compliance and streamlining the reporting process.

“BWise is the cornerstone of our GRC portfolio,” said Adena Friedman, President, Nasdaq, during the Global BWise Customer Summit in New York. “By integrating information security within the BWise GRC platform we can take a targeted approach to risk assessment, enabling Chief Information Security Officers to focus on the most pressing IT risks, including cyber threats. This new solution is among the first results from our increased investment in R&D in 2015. We believe with BWise InfoSec we can disrupt the world of information security technology.”

Luc Brandts, CTO of BWise, added, “We conducted extensive user review sessions and involved analyst experts throughout the development process. As a result, we know the solution will set new standards for ease of implementation, integration and use.”

BWise InfoSec helps users implement treatment plans for remediation and ensure appropriate follow up of non-conformities. Its strong reporting capabilities allow users to generate a Statement of Applicability, as defined by ISO 27001, and a security assessment report – directly from the application with a single click.

The solution can integrate with vulnerability scanners, security incident and event monitoring tools, baseline analyzers, and IT incident ticketing tools. It offers real-time insights into the threats and vulnerabilities that may affect an organization’s information security management system.

The Global BWise Customer Summit is an exclusive forum for the international BWise GRC community to discuss the latest GRC trends and developments.

For more information, visit http://www.bwise.com/.

About Nasdaq
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to more than 3,600 listed companies with a market value of approximately $9.6 trillion and more than 10,000 corporate clients. To learn more, visit: nasdaq.com/ambition or business.nasdaq.com.

About BWise
Nasdaq’s BWise is a global leader in Enterprise Governance, Risk Management and Compliance (GRC) software. Based on a strong heritage in business process management, the BWise(R) GRC Platform provides companies with highly-rated, proven software solutions for Risk Management, Internal Control, Internal Audit, Compliance & Policy Management, IT GRC and Sustainability Performance Management.

BWise’s end-to-end solutions support an organization’s ability to understand, track, measure, and manage key organizational risks. BWise helps companies truly be in control by balancing performance with their financial and reputational risks, improving corporate accountability, increasing financial, strategic and operating efficiencies. Using BWise, organizations are able to efficiently comply with anti-corruption regulations like FCPA and the UK Bribery Act, the Sarbanes-Oxley Act, European Corporate Governance Codes, ISAE3402/SAS-70, PCI-DSS, Solvency II, Basel II and III, Dodd-Frank, ISO-standards, and many more.

Nasdaq’s BWise sales, service and support offices around the globe provide for the GRC needs of hundreds of leading companies worldwide. For more information, visit www.bwise.com.

NDAQG

CONTACT: For Media Inquiries:

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