SAN ANTONIO, April 5 (Bernama-GLOBE NEWSWIRE) -- Rackspace® today announced that it has been positioned by Gartner, Inc. in the Leaders quadrant of its 2018 Magic Quadrant for Public Cloud Infrastructure Managed Service Providers, Worldwide.
The Gartner assessment, performed by the firm’s IT industry analysts, evaluates service providers based on the completeness of their vision and their ability to execute. It categorizes providers in quadrants labeled Niche Players, Challengers, Visionaries, and Leaders. Rackspace was among the 20 providers assessed by Gartner, and is one of three providers in the Leaders quadrant.
“In our view, being recognized as a Leader in this Magic Quadrant for two years in a row is a testament to the breadth and depth of our portfolio and our expertise in delivering next-generation IT services,” said Joe Eazor, CEO of Rackspace. “Businesses within every industry are moving to consume IT in a more-agile and cost-efficient manner, as a service, across multiple public and private cloud platforms and technologies. We are constantly adding new capabilities to help businesses navigate and operate in this complex environment.”
Rackspace serves more than 140,000 customers worldwide, including a majority of the Fortune 100, and maintains data centers on five continents. The company helps customers through every phase of their digital transformation including planning, implementation, ongoing operations management, and optimization, across applications, data, security, and infrastructure.
“We are pleased to be recognized by our customers and Gartner. We feel it defines us as one of the pre-eminent leaders in offering managed services for all of the world’s leading public cloud platforms,” said Prashanth Chandrasekar, vice president and general manager, Managed Public Clouds at Rackspace. “Rackspace offers our customers a truly differentiated, next-generation services experience that uses a broad end-to-end approach to help accelerate digital transformation. Leveraging our expertise across the world’s leading hyperscale public clouds, we help customers choose the right public cloud for their specific technical and business needs based on a data-driven framework. We enable customers to migrate applications in a rapid fashion to the public cloud and then ensure the highest levels of ongoing performance at the lowest total cost, using our cost and architecture optimization tooling. We will continue to invest in our multi-cloud technology and specialist talent to drive significant value for our customers.”
http://mrem.bernama.com/viewsm.php?idm=31607
Friday, April 6, 2018
Thursday, April 5, 2018
A.M. Best commented credit ratings of China Re and its subsidiaries
KUALA LUMPUR, April 5 (Bernama) -- A.M. Best has commented the financial strength rating of A (excellent) and the long-term issuer credit ratings of 'a' of China Reinsurance (Group) Corporation (China Re) and its subsidiaries, China Property & Casualty Reinsurance Company Ltd and China Life Reinsurance Company Ltd.
Meanwhile, the credit rating of China Continent Property & Casualty Insurance Company Ltd (CCIC), remain unchanged following the disclosure on the introduction of strategic investors through CCIC's capital increase announced on March 28, and April 2, 2018.
China Re's board of directors has entered into a share subscription agreement, effective on April 2, between CCIC and its existing shareholder, Ningbo Development & Investment Group Co Ltd as well as eight new strategic investors.
The agreement calls for the issuance of 4.7 billion new shares at RMB2.28 per share for a total of RMB10.7 billion (US$ 1.7 billion) (the capital increase).
The amount of new capital is equivalent to approximately 14 per cent of China Re's consolidated net assets as of Dec. 31, 2017. China Re's shareholding percentage of CCIC will be diluted to 64.30 per cent from 93.18 per cent after the capital increase.
A.M. Best expects the capital increase to continue support of China Re's consolidated risk-adjusted capitalisation in the medium term at current rating level and cooperation with the new investors enhanced CCIC's business growth and portfolio diversification potential, strengthen distribution network and promote innovation.
A.M. Best is the world's oldest and most authoritative insurance rating and information source.
Meanwhile, the credit rating of China Continent Property & Casualty Insurance Company Ltd (CCIC), remain unchanged following the disclosure on the introduction of strategic investors through CCIC's capital increase announced on March 28, and April 2, 2018.
China Re's board of directors has entered into a share subscription agreement, effective on April 2, between CCIC and its existing shareholder, Ningbo Development & Investment Group Co Ltd as well as eight new strategic investors.
The agreement calls for the issuance of 4.7 billion new shares at RMB2.28 per share for a total of RMB10.7 billion (US$ 1.7 billion) (the capital increase).
The amount of new capital is equivalent to approximately 14 per cent of China Re's consolidated net assets as of Dec. 31, 2017. China Re's shareholding percentage of CCIC will be diluted to 64.30 per cent from 93.18 per cent after the capital increase.
A.M. Best expects the capital increase to continue support of China Re's consolidated risk-adjusted capitalisation in the medium term at current rating level and cooperation with the new investors enhanced CCIC's business growth and portfolio diversification potential, strengthen distribution network and promote innovation.
A.M. Best is the world's oldest and most authoritative insurance rating and information source.
A.M. Best assigns excellent financial strength rating for LIG Insurance (China)
KUALA LUMPUR, April 4 (Bernama) -- A.M. Best has assigned a financial strength rating of A- (excellent) and a long-term issuer credit rating of 'a-' to LIG Insurance (China) Co Ltd (LIG China) China.
A.M. Best, in a statement said the outlook assigned to these ratings is stable.
"The ratings reflect LIG China's balance sheet strength, which A.M. Best categorised as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
"The ratings also reflect the implicit support the company receives from its parent, KB Insurance Co Ltd (KB Insurance)," the statement said.
LIG China's very strong balance sheet strength is supported by risk-adjusted capitalisation, at the strongest level and by very low underwriting leverage relative to its peers.
Overall operating performance is adequate, underpinned by a stable stream of interest income that is significant in size compared with its net earned premium.
The insurance company occupies a niche market by focusing on Korean companies that operate in China. LIG China has a competitive advantage in the market due to its long-term relationships with those companies.
LIG China is a property-casualty insurer in China, established in 2009. The company is wholly owned by KB Insurance, a Korea-based company that is a wholly owned subsidiary of KB Financial Group Inc.
A.M. Best is the world's oldest and most authoritative insurance rating and information source.
A.M. Best, in a statement said the outlook assigned to these ratings is stable.
"The ratings reflect LIG China's balance sheet strength, which A.M. Best categorised as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
"The ratings also reflect the implicit support the company receives from its parent, KB Insurance Co Ltd (KB Insurance)," the statement said.
LIG China's very strong balance sheet strength is supported by risk-adjusted capitalisation, at the strongest level and by very low underwriting leverage relative to its peers.
Overall operating performance is adequate, underpinned by a stable stream of interest income that is significant in size compared with its net earned premium.
The insurance company occupies a niche market by focusing on Korean companies that operate in China. LIG China has a competitive advantage in the market due to its long-term relationships with those companies.
LIG China is a property-casualty insurer in China, established in 2009. The company is wholly owned by KB Insurance, a Korea-based company that is a wholly owned subsidiary of KB Financial Group Inc.
A.M. Best is the world's oldest and most authoritative insurance rating and information source.
Wednesday, April 4, 2018
SHORTER GMAT EXAM LAUNCHES ON APRIL 16
Candidate-Friendly Change Designed to Enhance Test-Taking Experience
RESTON, Va., April 4 (Bernama-GLOBE NEWSWIRE) -- The Graduate Management Admission Council (GMAC) is shortening the length of the GMAT exam by 30 minutes as part of its ongoing focus on creating the best possible testing experience and offering user-friendly features. The new, shorter exam – 3.5 hours instead of 4 – will be available for test-takers worldwide beginning April 16.
The quality of the exam remains unchanged in terms of reliability, validity, security and integrity. GMAT scores before and after this change will be the same and comparable across time.
“We are always looking for ways to help build candidate confidence and streamline the test experience, all with one goal in mind—to help GMAT test-takers do their very best on exam day,” said Vineet Chhabra, senior director of product management for GMAC. “We believe candidates will have less anxiety and feel better prepared, which can contribute to a better reflection of their true performance on the exam.”
The time savings are achieved by streamlining the two longer sections of the exam, the Quantitative and Verbal Reasoning sections, reducing the number of unscored, research questions in these sections. Several tutorial and instruction screens that test-takers see at the test center have also been simplified. There are no changes to the exam’s Analytical Writing or Integrated Reasoning sections. The way the GMAT exam is scored, the content of the exam, the question types and the average time per question are not changing.
“Through our ongoing market feedback and operational reviews, we were able to identify this opportunity to shorten the exam, without changing its reliability,” said Chhabra. “This change will not affect GMAT exam scoring as the number of scored questions will not change. The scoring algorithm will be the same; the Total Score and individual Quantitative and Verbal section scores will be comparable to the exams taken prior to this change. There is no action or change required on the part of business schools and universities. We are providing candidates with a better testing experience, while providing business schools with the same high quality, fair and reliable scores.”
Along with these changes, GMAC is providing a new, online tutorial that mimics the screens that test-takers see on exam day, further enhancing and streamlining the test center experience. By moving the tutorial information online, to www.mba.com/, test takers can access it prior to arriving at the test center, at their convenience and as often as they wish.
The GMAT exam is designed to showcase the skills that are most relevant to the world’s leading graduate business programs; 9 out of 10 new MBA enrollments globally are made using a GMAT score.
To align with the changes, GMAC is launching new GMAT Official Prep tools to match the structure of the shorter exam. The GMAT Official Practice Exams and Practice Questions will be available on an online platform for better ease-of-use, as well as some feature improvements such as single sign-on and ability to access prep materials across multiple devices. GMAT Official Prep tools are the only official source of retired GMAT questions, and the Council’s research shows that candidates who use official products score an average of 18 percent higher on the GMAT exam than those who don’t. The updated practice tools will be available by the end of April.
These changes are part of a series of candidate-friendly enhancements to the GMAT exam in recent years, all focused on improving the testing experience, including:
RESTON, Va., April 4 (Bernama-GLOBE NEWSWIRE) -- The Graduate Management Admission Council (GMAC) is shortening the length of the GMAT exam by 30 minutes as part of its ongoing focus on creating the best possible testing experience and offering user-friendly features. The new, shorter exam – 3.5 hours instead of 4 – will be available for test-takers worldwide beginning April 16.
The quality of the exam remains unchanged in terms of reliability, validity, security and integrity. GMAT scores before and after this change will be the same and comparable across time.
“We are always looking for ways to help build candidate confidence and streamline the test experience, all with one goal in mind—to help GMAT test-takers do their very best on exam day,” said Vineet Chhabra, senior director of product management for GMAC. “We believe candidates will have less anxiety and feel better prepared, which can contribute to a better reflection of their true performance on the exam.”
The time savings are achieved by streamlining the two longer sections of the exam, the Quantitative and Verbal Reasoning sections, reducing the number of unscored, research questions in these sections. Several tutorial and instruction screens that test-takers see at the test center have also been simplified. There are no changes to the exam’s Analytical Writing or Integrated Reasoning sections. The way the GMAT exam is scored, the content of the exam, the question types and the average time per question are not changing.
“Through our ongoing market feedback and operational reviews, we were able to identify this opportunity to shorten the exam, without changing its reliability,” said Chhabra. “This change will not affect GMAT exam scoring as the number of scored questions will not change. The scoring algorithm will be the same; the Total Score and individual Quantitative and Verbal section scores will be comparable to the exams taken prior to this change. There is no action or change required on the part of business schools and universities. We are providing candidates with a better testing experience, while providing business schools with the same high quality, fair and reliable scores.”
Along with these changes, GMAC is providing a new, online tutorial that mimics the screens that test-takers see on exam day, further enhancing and streamlining the test center experience. By moving the tutorial information online, to www.mba.com/, test takers can access it prior to arriving at the test center, at their convenience and as often as they wish.
The GMAT exam is designed to showcase the skills that are most relevant to the world’s leading graduate business programs; 9 out of 10 new MBA enrollments globally are made using a GMAT score.
To align with the changes, GMAC is launching new GMAT Official Prep tools to match the structure of the shorter exam. The GMAT Official Practice Exams and Practice Questions will be available on an online platform for better ease-of-use, as well as some feature improvements such as single sign-on and ability to access prep materials across multiple devices. GMAT Official Prep tools are the only official source of retired GMAT questions, and the Council’s research shows that candidates who use official products score an average of 18 percent higher on the GMAT exam than those who don’t. The updated practice tools will be available by the end of April.
These changes are part of a series of candidate-friendly enhancements to the GMAT exam in recent years, all focused on improving the testing experience, including:
- Exam section order selection at the testing center (Select Section Order)
- Making unofficial scores available immediately, before leaving the test center following the exam
- Updates to score cancellation and reinstatement options
To learn more about these changes, please review our FAQs: http://www.mba.com/global/frequently-asked-questions/shorter-gmat-exam
About GMAC: The Graduate Management Admission Council (GMAC) is a global, non-profit association of 223 leading graduate business schools. Founded in 1953, we are actively committed to advancing the art and science of admissions by convening and representing the industry and offering best-in-class products and services for schools and students. GMAC owns and administers the Graduate Management Admission Test® (GMAT®) exam, used by more than 7,000 graduate programs worldwide. Other GMAC assessments include the NMAT by GMAC™ exam, for entrance into graduate management programs in India and South Africa, and the Executive Assessment, specifically designed for Executive MBA programs around the world. The Council is based in the United States with offices in London, New Delhi (Gurugram), and Hong Kong. For information on assessments, study tools and services for candidates, visit www.mba.com. For information about The Council and our market intelligence, professional development opportunities and services for graduate management education, please visit www.gmac.com.
MEDIA CONTACT: Tania Hernandez-Andersen, GMAC Sr. Dir. of Corporate Brand Communications, thernandez-andersen@gmac.com or 703-668-9638 (office), 571-294-4059 (mobile).
SOURCE : Graduate Management Admission Council
About GMAC: The Graduate Management Admission Council (GMAC) is a global, non-profit association of 223 leading graduate business schools. Founded in 1953, we are actively committed to advancing the art and science of admissions by convening and representing the industry and offering best-in-class products and services for schools and students. GMAC owns and administers the Graduate Management Admission Test® (GMAT®) exam, used by more than 7,000 graduate programs worldwide. Other GMAC assessments include the NMAT by GMAC™ exam, for entrance into graduate management programs in India and South Africa, and the Executive Assessment, specifically designed for Executive MBA programs around the world. The Council is based in the United States with offices in London, New Delhi (Gurugram), and Hong Kong. For information on assessments, study tools and services for candidates, visit www.mba.com. For information about The Council and our market intelligence, professional development opportunities and services for graduate management education, please visit www.gmac.com.
MEDIA CONTACT: Tania Hernandez-Andersen, GMAC Sr. Dir. of Corporate Brand Communications, thernandez-andersen@gmac.com or 703-668-9638 (office), 571-294-4059 (mobile).
SOURCE : Graduate Management Admission Council
Tuesday, April 3, 2018
IE Expo China 2018 gathers global exhibitors to explore China environmental market
KUALA LUMPUR, April 3 (Bernama) -- IE expo China 2018, an IFAT brand family member and Asia´s largest environmental technology show will kick off on May 3 to 5 at Shanghai New International Expo Centre.
IE expo China 2018 is an ideal platform for global exhibitors and buyers to explore and expand market in China.
Messe Muenchen Zhongmao Co Ltd, in a statement said the expo expected to attract 1,800 exhibitors in the fields of water, waste, air and soil management.
Exhibitors will include 18 leading companies as well as renowned domestic Chinese companies and organisations. There will also be 13 overseas pavilions with Nordic countries and Russia joining for the first time.
The companies include SUEZ, Veolia, CAMBI, Fluence, Xylem, Huber, WILO, KSB, E+H, Hach, SSI, ANDRITZ, TOMRA, Metso, ERIEZ, BHS, SID and ENSA.
Three more halls will be added to expand the exhibition area to 120,000 metre square and new segments like ‘agricultural amelioration´ will be featured.
Meanwhile the China Environmental Technology Conference will be held concurrently to focus on water and sewage treatment, waste management, site remediation, air pollution control and air purification.
This year, the organiser will also present 2018 Innovative Environmental Technologies Roadshow and Matchmaking to bring together innovators, investors, partners and end-users.
IE expo China 2018 is an ideal platform for global exhibitors and buyers to explore and expand market in China.
Messe Muenchen Zhongmao Co Ltd, in a statement said the expo expected to attract 1,800 exhibitors in the fields of water, waste, air and soil management.
Exhibitors will include 18 leading companies as well as renowned domestic Chinese companies and organisations. There will also be 13 overseas pavilions with Nordic countries and Russia joining for the first time.
The companies include SUEZ, Veolia, CAMBI, Fluence, Xylem, Huber, WILO, KSB, E+H, Hach, SSI, ANDRITZ, TOMRA, Metso, ERIEZ, BHS, SID and ENSA.
Three more halls will be added to expand the exhibition area to 120,000 metre square and new segments like ‘agricultural amelioration´ will be featured.
Meanwhile the China Environmental Technology Conference will be held concurrently to focus on water and sewage treatment, waste management, site remediation, air pollution control and air purification.
This year, the organiser will also present 2018 Innovative Environmental Technologies Roadshow and Matchmaking to bring together innovators, investors, partners and end-users.
YPO releases results of March 2018 YPO Global Pulse Survey
KUALA LUMPUR, April 3 (Bernama) -- Young Presidents' Organization Inc (YPO), today announced the results of the March 2018 YPO Global Pulse Survey revealing that chief executives across the world are focused on core business technologies, such as cloud computing, business intelligence (BI) and cybersecurity.
It also said that adoption and investment of emerging technologies such as blockchain, artificial intelligence (AI) and cryptocurrency are likely to be sector-driven, a statement said.
The survey provides insight into their perspectives around the world on topics that influence businesses, leadership and impact with key insight into the understanding, attitudes and investment plans around the world, regarding the 10 disruptive technologies that are attracting attention right now.
According to the survey, cloud computing is a key priority globally with more than two-thirds (68 per cent) of chief executives report that cloud computing is likely to impact their business in the next 12 months, and 62 per cent state that they are likely to invest in cloud-based technologies.
It is followed by Business Intelligence (BI) with 65 per cent from them expect BI to impact their organisations and 56 per cent are likely to invest in business intelligence in the coming 12 months.
Cybersecurity is a disruptive technology they have prioritised, given the scale and severity of recent high-profile consumer data breaches, 53 per cent expect cybersecurity to impact their business and 47 per cent state that they are likely to invest in cybersecurity technology in the coming year.
"YPO members are embracing technology to address regulatory requirements, harness business data for improved efficiency and increased financial performance, and to match consumer demand for new and innovative ways to interact with their businesses," said CEO of YPO, Scott Mordell.
Despite the expected disruption, CEOs also less likely to invest in virtual reality (VR)/Augmented Reality (AR) technologies. It is reported that the VR and AR are widely noted as technologies likely to impact most industries.
However, within architecture and engineering sectors, 83 per cent of business leaders expect VR to impact their business and 64 per cent plan to invest in it over the next 12 months, as compared to only 23 per cent willing to invest in these technologies.
Similarly, artificial intelligence (AI) is perceived as likely to impact businesses, but CEOs are less likely to invest in AI this year as cloud computing, business intelligence, cybersecurity and digital/mobile payment applications, which are commanding more immediate attention and likely candidates for investment in the next 12 months.
In addition, CEOs are least familiar with chatbot technology, followed by blockchain and cryptocurrency among the 10 disruptive technologies surveyed.
Additionally, the Internet of Things (IoT) is cited as a key technology area by business leaders within the telecom, architecture, engineering and technology sectors with 78 per cent of chief executives in telecoms expect IoT to impact their business and 96 per cent expect to make investments in IoT over the next 12 months.
"The findings of the YPO Global Pulse reveal that the short-term business impact and investment strategy associated with a particular technology is largely dependent on the specific industry in which you operate," added Mordell.
The survey is conducted based on the perspectives from 842 YPO members, from 15 different regions of the world and across 28 industry sectors.
YPO is a premier leadership organisation of chief executives in the world. More information about the survey can be visit at www.ypo.org/globalpulse
It also said that adoption and investment of emerging technologies such as blockchain, artificial intelligence (AI) and cryptocurrency are likely to be sector-driven, a statement said.
The survey provides insight into their perspectives around the world on topics that influence businesses, leadership and impact with key insight into the understanding, attitudes and investment plans around the world, regarding the 10 disruptive technologies that are attracting attention right now.
According to the survey, cloud computing is a key priority globally with more than two-thirds (68 per cent) of chief executives report that cloud computing is likely to impact their business in the next 12 months, and 62 per cent state that they are likely to invest in cloud-based technologies.
It is followed by Business Intelligence (BI) with 65 per cent from them expect BI to impact their organisations and 56 per cent are likely to invest in business intelligence in the coming 12 months.
Cybersecurity is a disruptive technology they have prioritised, given the scale and severity of recent high-profile consumer data breaches, 53 per cent expect cybersecurity to impact their business and 47 per cent state that they are likely to invest in cybersecurity technology in the coming year.
"YPO members are embracing technology to address regulatory requirements, harness business data for improved efficiency and increased financial performance, and to match consumer demand for new and innovative ways to interact with their businesses," said CEO of YPO, Scott Mordell.
Despite the expected disruption, CEOs also less likely to invest in virtual reality (VR)/Augmented Reality (AR) technologies. It is reported that the VR and AR are widely noted as technologies likely to impact most industries.
However, within architecture and engineering sectors, 83 per cent of business leaders expect VR to impact their business and 64 per cent plan to invest in it over the next 12 months, as compared to only 23 per cent willing to invest in these technologies.
Similarly, artificial intelligence (AI) is perceived as likely to impact businesses, but CEOs are less likely to invest in AI this year as cloud computing, business intelligence, cybersecurity and digital/mobile payment applications, which are commanding more immediate attention and likely candidates for investment in the next 12 months.
In addition, CEOs are least familiar with chatbot technology, followed by blockchain and cryptocurrency among the 10 disruptive technologies surveyed.
Additionally, the Internet of Things (IoT) is cited as a key technology area by business leaders within the telecom, architecture, engineering and technology sectors with 78 per cent of chief executives in telecoms expect IoT to impact their business and 96 per cent expect to make investments in IoT over the next 12 months.
"The findings of the YPO Global Pulse reveal that the short-term business impact and investment strategy associated with a particular technology is largely dependent on the specific industry in which you operate," added Mordell.
The survey is conducted based on the perspectives from 842 YPO members, from 15 different regions of the world and across 28 industry sectors.
YPO is a premier leadership organisation of chief executives in the world. More information about the survey can be visit at www.ypo.org/globalpulse
Monday, April 2, 2018
A.M. BEST AFFIRMS CREDIT RATINGS OF PT ASURANSI JASA INDONESIA (PERSERO)
SINGAPORE, March 29 (Bernama-BUSINESS WIRE) -- A.M. Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” of PT Asuransi Jasa Indonesia (Persero) (Jasindo) (Indonesia). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect Jasindo’s balance sheet strength, which A.M. Best categorizes as strong, as well as its favorable operating performance, neutral business profile and appropriate enterprise risk management.
Jasindo’s strong risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), is supported by its low underwriting leverage. Being directly owned by the Indonesia government provides Jasindo with access to business from other state-owned enterprises. Jasindo’s overall performance has been strong with profits coming from most business lines. The five-year average combined ratio and operating ratio, standing at 86% and 80%, respectively, compare favorably with the industry averages. Overall operating expenses, while somewhat elevated relative to the prior year, reflect Jasindo’s strategic investments in its retail business segments.
Negative rating factors include Jasindo’s combination of high reinsurance leverage and exposure to lower-rated reinsurers. Although Jasindo’s reinsurance asset leverage has declined, it was still the highest among large Indonesian non-life insurers in 2016 and much higher than the industry average. In addition, a sizable portion of its reinsurance assets is provided by reinsurers that are of lower credit quality, based on international standards.
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