Rs. 48,000 Crores Business Opportunity in Mobile Value Added Services - Press Trust

Bharat Sanchar Nigam Limited (BSNL) will be launching video on demand for its mobile phone subscribers in a month's time. The announcement was made by Chairman & Managing Director Shri Rakesh K Upadhyay, BSNL while inaugurating VAS ASIA 2012, 12th International Conference & Exhibition at New Delhi, organized by Bharat Exhibitions.

"The MVAS industry is expected to create a business opportunity worth around INR 48,000 crore by the year 2015. This in itself is a clear indication of the future of VAS services in India. No doubt this has created a new excitement for all those who are in this space and for those who are entering," said Shashi Dharan, Managing Director, Bharat Exhibitions.

During his address, Shri A. K. Bhargava, Executive Director (Wireless Service) Mahanagar Telephone Nigam Ltd (MTNL) said that the story of the value added service on the mobile phone is just the beginning. "All products on the mobile phone are for the masses, there is a requirement of creative innovation, which should be cost effective and for masses Shri Bhargava added.

The emergence of the mobile phone as the single device for a host of services has changed the paradigm in the communication and entertainment industries with several discreet devices being displaced in favour of a single device, said Mr. Rajan S. Mathews, Director-General of Cellular Operators Association of India (COAI). He drew attention to some emerging problems in the telecommunication area where customer charges needed to be as low as possible for the mass communication device to be affordable to the last man. "The "exploding cost of regulation" is a critical issue. The increasing introduction of regulatory issues into what is actually market driven service is affecting the growth of this sector, "said Mr. Mathews.

"Mobile internet users are expected to surpass the desktop Internet users 2014. The disparity in the time spent on mobile (10 per cent) and the advertisement spend (1per cent) would also rebalance soon, thereby boosting revenue from the mobile VAS for the operators. With advertising revenue rising by at least three times in two years from now this sector will also bridge the social media and location based marketing with personalization that was not possible till now, " said Mr. Alex Moukas, CEO Velti, while delivering the keynote address at the VAS Asia 2012. He further added that explosive mobile Internet adoption will surpass the desk top users.

"India's Internet users penetration will rise to 35 per cent by 2015 and more than three quarters will choose mobile phone access," said Mr. Sukesh Jain, head VAS & Content, Bharti Airtel. The total Internet access capability by 2015 is expected to rise from 100 million to 450 million, of which 41 percent will be using mobile only and another 38 per cent both cell phone and PC. Data service on the mobile is expected to broaden and deepen customer experience with the cell phone with the consequent improvement in the operator revenues. Revenue contribution from current VAS services is expected to come down as revenues from data increase as a percentage of total revenue.

What was holding back the prospect of huge revenues from mobile VAS was the fact that smart phone base was growing slowly till recently. In the first quarter of this year out of 50 million new devices sold, smart phones constituted only 2.7 million and the total smart phone base in the country is around 27 million, while the total subscribers base have crossed 950 million. The population that needs to be addressed is the regional language speakers who are the large majority compared to only 7 per cent knowing English speaking population.

"Mobile VAS has huge revenue potentials, the global average share of MVAS revenue is leading user countries is pegged at approximately 23 per cent ," said Mr. Chandan Ghosh, Head -Global Wholesale & Carrier Business , Aircel Limited. The drive to increase average revenue per user and gain customer loyalty in a highly competitive market has led operators to liven up their mobile portfolios. Operators are looking at various means to use MVAS as a growth driver and key differentiator. According to him the industry falling prices of handsets and increasing competition was forcing manufacturers to shift focus to services. For operators falling voice revenues, increasing competition and heavy investments in 3G have made them to turn to VAS to secure their business.

New opportunities were emerging for banks, educational institutions and health care providers to use value added services over their mobile. This could be the game that operators would have to address to improve their revenues. The broad categories for successful monetization of MVAS were in M-education, M-commerce, M-Health and M-Infotainment. "The end game is not about generating new revenues. It's about delivering compelling customer experience in order to extract new value from existing customers", said Mr. Ghosh.

"The opportunity for the technology players to play a critical role in the further expansion of the Indian VAS Market has become more crucial now", said Mr. John He, CEO, DONJIN Communication Technology Co. Ltd.

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Optimism, Opportunity Unite Women Owned Businesses at Dell India 2012 Event - Press Trust

According to a new study commissioned by Dell, the ideal country to be in if you're a woman starting a business in 2012 could well be India, the location of its forthcoming Dell Women's Entrepreneur Network (DWEN) event taking place in New Delhi, June 17-19 2012.

At the event, Dell will be releasing the results of its Women's Global Entrepreneurship Study, examining indicators of business confidence among women entrepreneurs in different countries, along with their motivations, financing options and sources of support.

Early results show tremendous optimism on the part of women entrepreneurs in India. When asked about expectations for business growth, women entrepreneurs in India anticipate an average of 90 percent over the next five years. When you consider that India has a projected GDP growth rate of 8.2 percent in 2011-2012, according to the Indian Economic Outlook Report, women entrepreneurs in India have good reason to be feeling bullish.

Previous DWEN events in Shanghai (2010) and Rio de Janeiro (2011) included female global entrepreneurs that connected with one another at the events and continue to share best practices, build business opportunities and celebrate female influence in the global economy. Together, DWEN members and Dell chose India for this exclusive event because of its role as one of the largest emerging markets, as well as its influence on the world of technology.

Host Moira Forbes, publisher of Forbes Woman, will lead the exclusive, two-day event around the theme, "Innovation through Collaboration." The agenda is structured as an exchange of ideas between female founders, CEOs, innovative leaders, business icons, experts and thought leaders who run businesses in top markets. With speakers representing Canada, the United States, Brazil, China, Japan, Australia, India, the United Kingdom, France and Germany, Dell Women's Entrepreneur Network will address topics such as doing business in India, social entrepreneurship and strategic giving, sustainability, customer engagement, social media strategy, going global, and more. Speakers include:

-- Susan Feldman, Co-founder and Chief Merchandising Officer, One Kings Lane

-- Carley Roney, Co-founder and Editor in Chief, XO Group, Inc.

-- Lola Ogunnaike, Today Show Contributor

-- Martina Sandrock, General Manager, Iglo GmbH

-- Jane Silber, CEO, Canonical

-- Carolyn S. Miles, President and CEO, Save the Children

-- Shoba Purushothaman, Founder, Training Ventures Ltd. & Founder, The NewsMarket

-- Aishwarya and Amruda Nair of The Leela Group

-- Kay Koplovitz, Chairman & CEO, Koplovitz & Co. , Chairman, Springboard Enterprises

-- Frédérique Clavel, President, Fédération Pionnières

-- Tara Hunt, CEO and Co-founder, Buyosphere

-- Sarah Prevette, Founder, Sprouter and BetaKit

-- Danae Ringelmann, Co-founder, IndieGoGo

-- Ameera Shah, Managing Director and CEO, Metropolis Healthcare Ltd.

-- Lakshmi Pratury, Host and Curator, The INK Conference

"Women are playing increasingly important roles in leadership and we're seeing some of the most exciting global growth coming from female-led companies," said Moira Forbes, of ForbesWoman. "I recently traveled to Asia for the inaugural Forbes Forum: Asia's Power Business Women and saw first-hand how the region's female business leaders and entrepreneurs are changing the face of business and India is at the forefront of this phenomenon."

Dell Women's Global Entrepreneurship Study, Key Findings:

The agenda for the event will be supported by data uncovered as part of the Dell Women's Global Entrepreneurship Study, which highlighted positive growth trends for female entrepreneurs in India including:

-- Business is Booming: 71 percent of female entrepreneurs in India say their business is very successful, and eight in 10 female entrepreneurs in India say they are hiring.

-- Opportunity for Technology: 74 percent of female entrepreneurs in India say their technology needs are getting more complex.

-- Don't Quit Your Day Job: 90 percent of female entrepreneurs in India started their business while maintaining their day job.

-- Positive Social Impact is important: 85 percent of female entrepreneurs in India believe it is very important that their business has a positive social impact.

"Dell recognizes how critical entrepreneurs are to global economic recovery and job creation and our commitment to their growth goes well beyond the products and solutions we sell," Karen Quintos, senior vice president and chief marketing officer, Dell Inc. "The Dell Women's Entrepreneur Network celebrates the unique perspective and approach that women bring to business-and reinforces the role of technology in enabling these women to reach new markets, expand their companies and provide value to their customers."

Women leaders are invited to join in the conversation and share who and what inspires and motivates them as entrepreneurs and leaders via the Women Powering Business Network group on LinkedIn.

DWEN is supported by Endeavor, Ernst & Young's Entrepreneurial Winning Women and the Kauffman Foundation. Content about the event can be found on Twitter via @DellBizWomen and by following #dwen.

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AGF's Sale of Trust Business to Fund New Growth Opportunities as a Leading, Independent Global Investment Manager

Sale will provide AGF with $415 million cash

TORONTO , June 6, 2012 /CNW/ - Following today's announcement of the sale of AGF Trust Company ("AGF Trust") for approximately $415 million in total cash proceeds, AGF Management Limited ("AGF") will focus on growing its global investment management business.  The $415 million in total sale proceeds is comprised of $242 million for the total equity of AGF Trust (subject to changes in the equity value between now and closing) and repayment of the $109.5 million subordinated debt and the $64 million preferred share from AGF Trust to AGF Management Limited.

Over the last 25 years, AGF has successfully grown AGF Trust from a small, single product lending operation with only $200 million in loan assets to the over $3 billion multi-product loan business that operates today. The sale to B2B Trust, a firm with a similar business strategy to AGF Trust, will ensure that clients experience minimal changes as a result of the sale.

The sale of AGF Trust enables AGF to continue to be at the forefront of meeting the needs of advisors and investors by delivering best-in-class quality of service, innovative new investment products and improved investment capabilities. 

"This is an exciting and positive day for our firm," says Blake C. Goldring, Chairman and Chief Executive Officer of AGF Management Limited. "We have built AGF Trust into a very successful business and selling now will allow us to focus our resources on the highest potential opportunities for our company, which includes our existing investment management centres of excellence and distribution relationships, enhanced by a proactive acquisition strategy. We have found an ideal partner to continue building the AGF Trust business.  Meanwhile AGF investment management operations will be better positioned to provide greater value to all our stakeholders in the future."

Including the proceeds from the sale of AGF Trust and current unused debt capacity, AGF will have approximately $615 million of available capital to accelerate business growth for its Canadian and international investment management operations. Key strategic investments in the business will foster organic growth opportunities in all of AGF's channels, including its retail, institutional and private client businesses.

"We see new global opportunities opening up as a result of this transaction," says Robert J. Bogart, Executive Vice-President and Chief Financial Officer. "We have had considerable success building our global distribution capabilities and are confident we will generate more predictable growth results while leveraging our core strengths."

"Our team is energized and in place to move forward.  We have found a strong partner in B2B Trust and are pleased that, in concert with the acquisition transition period, all AGF Trust employees will become employees of B2B Trust.  We're grateful to the employees and senior management team for their contributions to the success of AGF Trust," adds Goldring.

In a Fairness Opinion provided by RBC Capital Markets, the sale consideration received was deemed fair from a financial point of view, subject to the assumptions and limitations contained therein.  Subject to regulatory approvals and financing, the transaction is expected to close in August 2012 .

Analysts and media are invited to participate in a conference call discussing the sale of AGF Trust further at 11:30 a.m. Toronto time.

Conference Call

AGF will host a conference call to review today's announcement at 11:30 a.m. ET . The live audio webcast with supporting materials will be available in the Investor Relations section of AGF's website at www.agf.com or at http://www.media-server.com/m/p/fopx38ef. Alternatively, the call can be accessed toll-free in North America by dialing 1 866 804 6927 (Passcode #:17279586). A complete archive of this discussion along with supporting materials will be available at the same webcast address within 24 hours of the end of the conference call.

About AGF Management Limited

AGF Management Limited is one of Canada's premier independent investment management firms with offices across Canada and subsidiaries around the world. AGF's products include a diversified family of award-winning mutual funds, mutual fund wrap programs and pooled funds. AGF also manages assets on behalf of institutional investors including pension plans, foundations and endowments as well as for private clients. In addition, AGF Trust is a complementary business that offers GICs, loans and mortgages through the financial advisor and mortgage broker channels. With over $43 billion in total assets under management, AGF serves more than one million investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

Caution Regarding Forward-Looking Statements
This release includes forward-looking statements. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes' or negative versions thereof and similar expressions, or future or conditional verbs such as 'may,' 'will,' 'should,' 'would' and 'could.' Forward-looking statements are based on certain factors and assumptions, including expected growth, results of operations, economic factors, business prospects, business performance and opportunities. While the company considers these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking statements are not guarantees of future performance, and actual events and results could differ materially from those expressed or implied by forward-looking statements due to, but not limited to, important risk factors such as level of assets under management, volume of sales and redemptions of investment products, performance of investment funds and of investment managers and advisors, competitive fee levels for investment management products and administration, and competitive dealer compensation levels, size and default experience on the company's loan portfolio and cost efficiency in loan operations and investment management operations, as well as interest and foreign-exchange rates, taxation, changes in government regulations, unexpected judicial or regulatory proceedings, and the company's ability to complete strategic transactions and integrate acquisitions. The company cautions that the foregoing list is not exhaustive. The reader is cautioned to consider these and other factors carefully and not place undue reliance on forward-looking statements. Forward-looking statements are given only as at the date of this release and other than specifically required by applicable laws, the company is under no obligation (and expressly disclaims any such obligation) to update or alter the forward-looking statements, whether as a result of new information, future events or otherwise. Additional risks and uncertainties can be found in our MD&A for the fiscal year ended November 30, 2011 under the headings "Caution Regarding Forward-Looking Statements" and "Risk Factors and Management of Risk" and in our other filings with Canadian securities regulatory authorities.

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First Marblehead Sells Legacy Trust Administration Business for $13.7 Million in Cash

BOSTON, MA--(Marketwire -03/02/12)- The First Marblehead Corporation (NYSE: FMD - News) today announced the sale of First Marblehead Data Services, Inc. ("FMDS"), its legacy trust administration business, to Route 66 Ventures, Inc., d/b/a Goal Structured Solutions ("GS2"), for $13.7 million in cash. The Company expects to record a gain of approximately $12.5 million in the quarter ending March 31, 2012 related to this transaction.

"The sale of FMDS is in line with our strategic focus on new business opportunities and product lines that are critical to the future success of First Marblehead," said Daniel Meyers, President and CEO of the Company. "While FMDS has historically been a profitable complement to our private student loan securitization business, we would not expect FMDS to administer future securitization trusts that we may facilitate in connection with our Monogram® platform. This sale allows the Company to continue to focus on the future, and redeploy resources for growing the business."

"We are excited by this opportunity to expand our trust administration business," said Ken Ruggiero, CEO of GS2. "Since our founding, we have been critically focused on this business and believe the investments we have made to date in people, process and technology will enable us to efficiently integrate FMDS while continuing to provide the same high level of service that our customers have come to expect."

About The First Marblehead Corporation - First Marblehead helps meet the need for education financing by offering national and regional financial institutions and educational institutions the Monogram® platform, an integrated suite of design, implementation and credit risk management services for private label, customizable private education loan programs. For more information, go to www.firstmarblehead.com. First Marblehead supports responsible lending and is a strong proponent of the smart borrowing principle, which encourages students to access scholarships, grants and federally-guaranteed loans before considering private education loans; please see www.SmartBorrowing.org. Through its subsidiary, Union Federal(SM) Savings Bank, First Marblehead offers private education loans, residential and commercial mortgage loans, and retail savings, money market and time deposit products. For more information, go to www.unionfsb.com. First Marblehead also offers outsourced tuition planning, billing and payment technology services, as well as refund management services, through its subsidiary Tuition Management Systems LLC. For more information, go to www.afford.com.

About Goal Structured Solutions - Goal Structured Solutions provides trust administration, loan management, performance analytics and capital markets advisory services to the student loan finance market. Its services are used by investors and issuers to more effectively manage their returns, asset performance and compliance. Founded in December 2007 and based in San Diego, CA, the company manages over $19 billion in federal and private student loans across more than 40 trust structures.

Statements in this press release regarding First Marblehead's strategy and future financial and operating results, including the expected gain from the sale of First Marblehead Data Services, Inc. to Route 66 Ventures, Inc. d/b/a Goal Structured Solutions (the "Transaction"), the redeployment of resources and the future growth of First Marblehead's business, as well as any other statements that are not purely historical, constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon our historical performance and on our plans, estimates and expectations as of March 2, 2012. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future results, plans, estimates, intentions or expectations expressed or implied by us will be achieved. You are cautioned that matters subject to forward-looking statements involve known and unknown risks and uncertainties, including economic, legislative, regulatory, competitive and other factors, which may cause actual financial or operating results, including gains, efficiencies or benefits related to the Transaction, or the timing of events, to be materially different than those expressed or implied by forward-looking statements. Important factors that could cause or contribute to such differences include: market acceptance of, and demand for, our Monogram platform and fee-based service offerings; the volume, timing and performance of facilitated student loans; capital markets conditions and our ability to structure securitizations or alternative financings; the size, structure and timing of any such securitizations or alternative financings; any investigation, audit, claim, regulatory action or suit relating to the transfer of the trust certificate of NC Residuals Owners Trust or the asset services agreement between the purchaser and First Marblehead, including as a result of the audit being conducted by the Internal Revenue Service relating to tax refunds previously received; our ability to execute our business strategies, redeploy resources and otherwise realize the anticipated benefits of the Transaction; our successful performance of our obligations under agreements relating to the Transaction, including a transition services agreement; post-closing purchase price adjustments and our indemnification obligations in connection with the Transaction; and the other factors set forth under the caption "Part II - Item 1A. Risk Factors" in First Marblehead's quarterly report on Form 10-Q filed with the Securities and Exchange Commission on February 9, 2012. We specifically disclaim any obligation to update any forward-looking statements as a result of developments occurring after the date of this press release, and you should not rely on those statements as representing our views as of any date subsequent to the date of this press release.

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First Trust Specialty Finance and Financial Opportunities Fund Declares its Quarterly Distribution of $0.16 Per Share - Marketwatch

WHEATON, Ill., Feb 09, 2012 (BUSINESS WIRE) -- First Trust Specialty Finance and Financial Opportunities Fund (the "Fund") /quotes/zigman/468577/quotes/nls/fgb FGB -0.83% today declared the Fund's regularly scheduled quarterly distribution payable on February 29, 2012 to shareholders of record on February 24, 2012. The ex-dividend date is expected to be February 22, 2012.

First Trust Specialty Finance and Financial Opportunities Fund (FGB): -------------------------------------------------------------------- Distribution per share: $0.16 Distribution Rate (annualized) based on the February 8, 2012 NAV of 8.47 % $7.56: Distribution Rate (annualized) based on the February 8, 2012 closing 8.90 % market price of $7.19:

A portion of the distribution may be treated as paid from sources other than net investment income, including short-term capital gain, long-term capital gain and return of capital. The final determination of the source and tax status of all distributions paid in 2012 will be made after the end of 2012.

The Fund is a non-diversified, closed-end management investment company that seeks to provide a high level of current income. As a secondary objective, the Fund seeks to provide attractive total return. The Fund pursues these investment objectives by investing at least 80% of its managed assets in a portfolio of securities of specialty finance and other financial companies that the Fund's investment sub-advisor believes offer attractive opportunities for income and capital appreciation.

First Trust Advisors L.P., the Fund's investment advisor, along with its affiliate First Trust Portfolios L.P., are privately-held companies which provide a variety of investment services, including asset management, financial advisory services, and competitive municipal underwritings, with collective assets under management or supervision of approximately $51 billion as of January 31, 2012 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.

Confluence Investment Management LLC ("Confluence"), an SEC registered investment advisor, serves as the Fund's investment sub-advisor. The investment professionals at Confluence have over 80 years of aggregate portfolio management experience. Confluence provides portfolio management and advisory services to both institutional and individual clients. As of January 31, 2012 Confluence managed or supervised over $1.3 billion in assets.

Past performance is no assurance of future results. Investment return and market value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost.

Principal Risk Factors: Investment in this Fund involves management risk; sub-advisor risk; value investing risk; income risk; specialty finance and other financial companies risks; common stock risk; preferred stock and trust preferred securities risk; convertible securities risk; fixed-income securities risk; lower grade and distressed securities risk; business development company risk; REIT, mortgage-related and asset-backed securities risks; infrastructure trust risk; income trust and master limited partnership risks; tax risks; non-U.S. securities risk; currency risk; liquidity risk; leverage risk; non-diversification risk; inflation/deflation risk; market discount from net asset value risk; and market disruption risk. The risks of investing in the Fund are spelled out in the prospectus, shareholder report and other regulatory filings.

The Fund's daily closing New York Stock Exchange price and net asset value per share as well as other information can be found at www.ftportfolios.com or by calling 1-800-988-5891.

SOURCE: First Trust Specialty Finance and Financial Opportunities Fund

First Trust Specialty Finance and Financial Opportunities Fund Press Inquiries: Jane Doyle, 630-765-8775 Analyst Inquiries: Jeff Margolin, 630-915-6784 Broker Inquiries: Jeff Margolin, 630-915-6784

Copyright Business Wire 2012

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