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Posts Tagged ‘funding’

SGX lines up long-term funding for planned ASX purchase

Singapore Exchange (SGXL.SI) said on Monday it has lined up long-term funding from a consortium of six banks for its proposed US$7.8 billion ($10 billion) takeover of Australian rival ASX (ASX.AX).

The term loans of $3.8 billion and A$750 million ($951.8 million) will come from Australia and New Zealand Banking Group (ANZ.AX), Bank of Tokyo-Mitsubishi UFJ (8306.T), DBS Group (DBSM.SI), Oversea-Chinese Banking Corp (OCBC.SI), United Overseas Bank (UOBH.SI) and National Australia Bank (NAB.AX).

 
ANZ will be the co-ordinator for the term loans.
 
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Singapore Exchange secures long-term funding for ASX deal

Singapore Exchange said it secured financing for its planned takeover of ASX in the form of terms loans of $3.8 billion and A$750 million ($951.8 million) by a group of six banks.
 
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Facebook Worth $50B from $500M Funding Round

Facebook banked $500 million in funding from Goldman Sachs and Digital Sky, inflating its war chest to challenge Google for a greater Web audience. – Facebook CEO Mark Zuckerberg regularly downplays talk of an
IPO, but his social network company has achieved the scale, and now the funding,
of a company to warrant it.
Facebook has reportedly banked $500 million from Goldman
Sachs and Digital Sky Technologies, valuing the company at $50 billio…


Law on Political Activity Funding in 2011

Justice Ministry State Secretary Slobodan Homen announced Friday that a new law on political activity funding should be adopted in early 2011.

“I believe that the government will agree on a draft law by the end of the year, and that it will be adopted by the parliament in early 2011,” he told reporters.

Twitter Worth $3.7B After $200M Funding Round

Twitter raked in $200 million in funding led by Kleiner Perkins Caufield & Byers and others. The investment round will help Twitter build out its business. – Twitter banked $200 million in funding led by Kleiner
Perkins Caufield amp; Byers and others, a major investment round that values
the company at $3.7 billion.
The move comes more than a year after Twitter received an
infusion of $50 million that valued the company at $1 billion. The
startup, …


Bono hails Bush’s US AIDS funding program for saving millions of lives

U2’s lead singer Bono has given credit to former President George W. Bush and the massive US funding started in 2003, for helping to bringing about a drop in HIV infections. Specialists in the field and AIDS activists alike, agree that the funding has done a world of good in sub-Saharan Africa, where efforts on [...]

Funding for terrorists comes from outside Pakistan: Holbrooke

US Special Envoy for Afghanistan and Pakistan, Richard Holbrooke, has said that the sources of funding for terrorists and militants come from outside Pakistan and through extortion of NATO supply convoys. “Funding of terrorism is a serious issue and they are being addressing matter,” the Daily Times quoted Holbrooke, who is currently in Islamabad to [...]

Extreme group’s funding to be probed

Serbian prosecution authorities will shortly launch the investigation into financiers of the Obraz movement and similar organizations. This is according to an article in today’s edition of the Belgrade-based daily Blic.

Global health funding: Passing the tin

Donors scrimp on cash for global public health

CAMPAIGNERS for global public health are rarely cheery. But they had high hopes that, despite the financial crisis, the Global Fund, which is the main multilateral agency dealing with AIDS, tuberculosis and malaria, would get lots more money from donors at a meeting on October 4th and 5th in New York.

The fund wanted to double its budget to $20 billion over the next three years. This would have allowed it, for instance, to triple the number of antiretroviral treatments for HIV from 2.5m at the end of 2009 to 7.5m. It also wanted more cash to fight malaria. A recent study by Bob Snow of Oxford University, published in the Lancet, a medical journal, argues that anti-malaria work is as much as 60% short of the $4.9 billion required. …

Varsities shut against slashed funding


LAHORE/KARACHI/MULTAN – The Federation of All Pakistan Universities Academic Staff Association (FAPUASA) Wednesday gave September 24 as a deadline to the government for the acceptance of their demands after a countrywide protest was held against the move to slash the funding to the public sector varsities.
There was no academic activity in the varsities as the staff and the students responded positively to the protest call after the government failed to yield to the justified demand of not curtailing the funds to Higher Education Commission (HEC), which is responsible for managing the affairs of the 72 state-run universities in the country.
In Lahore, the academic staff of various universities of the metropolis staged a protest demonstration in front of Lahore Press Club, which was led by FAPUASA President Dr Mehr Saeed Akhtar.
The protesters chanted slogans in favour of their demands and criticised the govt for the decision to cut the HEC budget.
The speakers condemned the attitude of Federal Finance Minister Dr Abdul Hafeez Sheikh with HEC Chairman Javed Leghari and the vice-chancellors of the public sector varsities, and demanded his immediate resignation.
They demanded of the government to increase the budget to Rs90 billion along with a hike in the annual grants to the universities, 50 per cent increase in salaries and 15 per cent medical allowance.
They also demanded of the government to release the regular grant immediately for the teachers doing their PhDs abroad. They also opposed the fee structure of the universities and asked the government to pay the amount collected from self-finance scheme to the universities. They also called upon the government to release development funds allocated for the varsities.
The FAPUASA call received partial response, as NED Engineering University remained open while there was no education-related activity in the University of Karachi, Dow University of Health Sciences (DUH) and Federal Urdu University of Arts, Science and Technology.
The Karachi University TeachersÂ’ Society (KUTS) held a general body meeting at the Arts Auditorium, which demanded of the federal government to shut down HEC and issue grants directly to the public sector universities.
A demonstration was held outside the Dow Medical College against the govt move. The protesters described the decision as ‘a murder of higher education in the country’.
In Multan, the academic staff of Bahauddin Zakariya University boycotted the classes, as they termed the biased behaviour of the federal finance minister a conspiracy against the country.
Similar protests were held in Gujrat, Sargodha, Islamabad, Hyderabad and other cities.
Online adds: The Federation of All Pakistan Universities Academic Staff Association announced to organise a demonstration in front of the Parliament House on September 25 in case of governmentÂ’s failure to release the funds.
When contacted, HEC Executive Director Sohail Naqvi said the government sector universities were in desperate need of Rs7 billion to overcome prevailing economic crunch, and if the government did not issue the required funds, the varsities could be shut down.
He also said that the government had allocated Rs15 billion for the current fiscal year out of which only Rs1.5 billion were issued so far while the HEC had demanded an amount of Rs23 billion.
In Quetta, a large number of Pashtunkhwa Students Organisation (PSO) activists staged a demonstration and took out a rally Wednesday to protest against the move to slash the funding for the public sector universities.
The protesters, who were carrying placards and banners inscribed with different demands, marched through various roads of the provincial capital and assembled outside Quetta Press Club. They chanted slogans against the government and Higher Education Commission (HEC).
Addressing on the gathering, PSO leaders Ahmad Jan Kakar, Kabeer Afghan and Umar Kakar termed the cuts in the budgets of 72 state-run varsities an anti-education step. “Only five universities out of a total 72 are in Balochistan while the province is already lagging behind in the education sector,” they observed, adding that the educational institutions lacked even the basic facilities while the cut would complicate the situation.
They warned to start a countrywide movement in case the govt failed to withdraw the decision.
On the other hand, the students and the academic staff of Balochistan University Quetta and Balochistan University of Engineering and Technology Khuzdar boycotted classes and staged demonstrations against the cuts in HEC budget.
In Quetta, the varsity academic staff organised a demonstration in front of Quetta Press Club.
They were unanimous in their views that the unfortunate development would lead the nation towards ignorance.
They demanded Prime Minister Gilani to take personal interest and save the varsities from complete destruction.

Ohio Ban on Offshore Outsourcing Raises More Ire from Asia

Ohio is attempting to curb public funding for offshore outsourcing services. Combined with the recent H-1B visa fee increase, pro-business trade groups from Asia are upset. – In an executive
order put forth by Gov. Tim Strickland of Ohio in August, his state is no longer
allowed to outsource work offshore, despite some federal stimulus monies being
paid to a Texas company Parago in March for services on a federally funded
appliance rebate program.
quot;Ohio’s poli…


“Iran funding extremists in Iraq”

The commander of U.S. forces in Iraq says Iran is fueling instability in neighboring Iraq by funding and training Shi’ite extremist groups in the country. General Ray Odierno told CNN on Sunday that Iran does not want Iraq to become a strong democratic country. He said Iran would rather see Iraq become a “weak governmental institution.”

Avere Closes $17 Million Series B Funding Round

Storage specialist Avere, maker of the FXT Series solid-state storage and traditional spinning media appliances, brings in $17 million in funding. – Avere Systems, a company specializing in Demand-Driven Storage
solutions, announced that investors have contributed an additional $17
million in funding bringing total investment in the company to $32
million and enabling it to expand production and distribution of its
FXT Series appliances that…


U.S. Congress approves Afghan war funding

U.S. lawmakers have approved an urgent funding measure to pay for President Barack Obama’s troop “surge”, RFE/RL reports. The surge was designed to turn around the faltering Afghan campaign.

Funding for nuclear fusion: Expensive Iteration

A huge international fusion-reactor project faces funding difficulties

VIABLE nuclear fusion has been only 30 years away since the idea was first mooted in the 1950s. Its latest three-decade incarnation is ITER, a joint effort by the European Union (EU), America, China, India, Japan, Russia and South Korea to construct a prototype reactor on a site in Cadarache, France, by 2018. If all goes to plan, in about 30 years it will be reliably producing more energy than is put in.

The International Thermonuclear Experimental Reactor became plain ITER following public anxiety about anything that has “thermonuclear” next to “experimental” in its name. ITER aims to produce energy by fusing together the nuclei of hydrogen atoms, confined in a magnetic field at high temperatures—a process akin to that which powers the sun. …

Venture Capital Investment in Technology Gains Ground

A new report finds funding for startups in everything from electric-vehicle infrastructure to software is beginning to return to prerecession levels. – Technology
and health care led the pack in venture capital funding in the second quarter
of 2010. These two sectors acquired the lions share of private funding with
$4.6 billion of the $7.1 billion total investment in U.S. venture capital
funding, according to a report by Dow Jones VentureSource…


New Federal Rules Govern Funding for Electronic Medical Records

The U.S. Department of Health and Human Services released final "meaningful use" rules on how health care providers can access $27 billion in federal economic stimulus money by using electronic medical records. Health care providers can begin to receive these incentives in 2011. – The U.S. Department of
Health and Human Services has released final rules on how health care providers
can qualify for up to $27 billion in incentives to implement electronic medical
records beginning in 2011.
The health care industry
continues to mull over an 864-page document on quot;meanin…


NASA Space Flight Funding Plan Stymies Congress, Obama Administration

News Analysis: Balking at the Obama administration’s proposal to put NASA’s manned space flight development program on hold for the next five years at least, Congress calls on the House Committee on Science and Technology for a compromise plan to keep NASA in the manned space exploration business. – The House Subcommittee on Commerce, Justice, Science and Related Agencies
Appropriations voted June 29 to withhold all funding for the Obama
administration’s manned space plans, and to refer the problem to the House
Committee on Science and Technology.
The White House’s plans for NASA’s manned …


GIC defers preferential funding in India’s Fortis: update 2

Indian hospital operator Fortis Healthcare (FOHE.BO) said the Government of Singapore Investment Corp (GIC) had decided to defer a preferential investment but the sovereign wealth fund will evaluate participating in broader fund raising by Fortis. 

Controlled by Indian billionaire brothers Malvinder Singh and Shivinder Singh, Fortis is pitted against Malaysian state fund Khazanah for control of Parkway Holdings (PARM.SI).

Read more…

Reporter: Subotić not funding B92

B92 journalist Jugoslav Ćosić denied speculation Stanko Subotić aka Cane funds both him and the B92 media company. He said that a court process will be launched regarding the statements made by Montenegrin opposition leader Nebojša Medojević, adding that he did not make a mistake by letting Subotić call in and speak during a show he was hosting in which Medojević was the guest.