World Finance Banking Awards 2010

21 Jun 2010 11:41 Africa/Lagos


World Finance Banking Awards 2010

LONDON, June 21, 2010/PRNewswire/ -- The crisis had its reverberations on developed and developing economies. However, not all banks experienced the kinds of losses that even revered financial institutions of the other countries have faced.


World Finance has conducted in-depth investigations into the banking sector. Continuing the magazine's awards for 2010, emerging markets in particular have produced remarkable results, for we which we are pleased to reward. Congratulations to the winners.



Best Commercial Bank, Angola
BAI

Best Banking Group, Angola
Banco Espirito Santo Angola

Best Investment Bank, Angola
BAI

Best Banking Group, Baltics
AB Bank SNORAS

Best Commercial Bank, Bolivia
Banco Mercantil Santa Cruz

Best Banking Group, Bolivia
Banco Sol S.A.

Best Investment Bank, Bolivia
Nacional Financiera Boliviana Sociedad de Titularizacion S.A.

Best Commercial Bank, Brazil
Banco Pine S.A.

Best Banking Group, Brazil
Banco BMG

Best Banking Group, Brunei
Baiduri Bank

Best Banking Group, Costa Rica
Corporacion BCT

Best Financial Group, Egypt
Arab African International Bank

Most Innovative Bank, Jamaica
National Commercial Bank Jamaica Limited

Best Banking Group, Jordan
Jordan Islamic Bank

Best Banking Group, Korea
Kb Financial Group

Best Private Bank, Luxembourg
KBL European Private Bankers S.A.

Best Banking Group, Malta
Banif Bank (Malta) plc, member of the Banif Financial Group

Best Commercial Bank, Mexico
Banco Inbursa

Best Private Bank, Mexico
Banca Mifel

Best Banking Group, Nigeria
First Bank of Nigeria Plc

Best Investment Bank, Oman
Oman Arab Bank SAOC

Best Banking Group, Paraguay
Sudameris Bank

Best Banking Group, Philippines
Bank of the Philippines Islands

Best Private Bank, Philippines
Banco De Oro

Best Banking Group, Portugal
Finibanco

Excellence in Structured Finance, Portugal
Banif Banco de Investimento

Best Investment Bank, Russia
Promsvyazbank

Best Banking Group, Saudi Arabia
Bank Albilad

Best Banking Group, Singapore
Citibank Singapore Ltd

Best Banking Group, Spain
Caja De Ahorros Del Mediterraneo

Best Private Bank, Spain
Banca March

Best Banking Group, Sub-Saharan Africa
Banco Espirito Santo Angola

Best Commercial Bank, Taiwan
Taipei Fubon Commercial Bank

Best Banking Group, Taiwan
China Trust Commercial Bank

Best Commercial Bank, Thailand
Siam Commercial Bank

Best Banking Group, Thailand
Krung Thai Bank

Best Banking Group, Turkey
Yapi Kredi

Best Private Bank, Turkey
Yapi Kredi

Best Investment Bank, Turkey
IS Investment

Best Investment Bank, UAE
Abu Dhabi Investment House

Best Commercial Bank, Uruguay
Banco Comercial

Best Banking Group, Uruguay
Banco De La Republica Oriental Del Uruguay

Best Commercial Bank, Vietnam
Asia Commercial Bank

Best Banking Group, Vietnam
Petrovietnam Finance Corporation­




Notes for editors:


For further information, go to http://www.worldfinance.com, for the latest economic and financial commentary from around the globe. Also, see our videos, at http://www.worldfinance.tv, where some of the latest opinion videos are showcased. World Finance is published by World News Media.


World News Media is a leading publisher of quality financial and business magazines, enjoying a global distribution network that includes subscriber lists of the most prominent and senior decision-makers around the world, as well as comprehensive airport, hotel and conference site distribution.


Source: World Finance

For further media information contact: World Finance, Michael McCaw, Production Editor, +44(0)20-7014-0370, michael@worldfinance.com



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Kaita Definition‏

Kaita Definition‏
From: Oladipo, Tolu S

KAITA (Kai-ta) verb
v. Kai*ta, Kai*tas, kai*ta'ed, kai*ta'ing

1. To single-handedly dash all hopes and aspirations in the full glare of everyone
2. To karate-kick your way out of success
3. To destroy/zap/siphon the energies of team mates through unexplainable stupidity
4. To act foolishly, unintelligently or irrationally and IMMEDIATELY regret the action by falling on your knees


Usage:

"Please, please, do not KAITA what we have been building for 50 years o! Oloshi!"

"I don't care what people say, I will KAITA the multi-billion dollar plan!"

"That man, you know, the hopeless, useless, visionless, KAITAing guy!"

"I was KAITAing until I met Jesus!"


Synonyms:

1. Shege Banza!
2. Incapacitate
3. Destroy/Demobilize
4. Jeopardize
5. Impair
6. Implode
7. Sabotage

Hillary Clinton Speaks on World Refugee Day

"The plight of the world's refugees is an issue that transcends not just geography and ethnicity, but politics and partisanship as well." --Secretary Clinton.




Hillary Rodham Clinton
Secretary of State
Ben Franklin Room

Washington, DC

June 18, 2010

Good morning, and welcome to the Benjamin Franklin Room here on the eighth floor of the State Department. And we’re delighted to be joined via video link from Syria by the United Nations High Commissioner for Refugees Antonio Gutierrez. Welcome, Antonio. And we’re delighted that either by video or audio link, we’ll have a chance to hear from UNHCR Goodwill Ambassador Angelina Jolie, who is at a refugee camp in Ecuador. And we’ll hear also from refugees in the Democratic Republic of Congo.


I want to thank Eric for the work that he and the bureau are doing on the issue of refugees, and especially making refugees a symbol of all of the challenges that we face. As he said at the very end, there is no humanitarian answer to a lot of the refugee problems. It’s a question of better governance, more accountable governance, of political and diplomatic efforts, of reconciliation and peace, of the growth of democracies and economies. But that doesn't in any way undermine the importance of meeting the day-to-day needs of those who have been displaced by conflict, by terrorism, by natural disaster. And Eric, as all of you know, is so committed to doing his part and representing the United States and the Obama Administration.


I’m also delighted that we are joined by George Rupp, president of the International Rescue Committee and himself a tremendous leader on behalf of those who are in need – refugees across the globe; and Scott Pelley, thank you for serving as the emcee and for shining a bright light on a lot of these situations; and my friend and former colleague, Congresswoman Diane Watson from California; and all of you who represent the leaders and partners from NGOs, Capitol Hill, the media, other countries, the diplomatic corps.


This marks the 30th anniversary of the U.S. Refugee Act, and I want to thank each and every one of you who have been instrumental over these past 30 years, because the plight of the world’s refugees is an issue that transcends not just geography and ethnicity, but politics and partisanship as well. It reminds us that we are all vulnerable, no matter how comfortable our lives may appear to be, but we, too, around the world – those of us who enjoy the benefits of the life that we have built or inherited, we, too, are vulnerable to war and conflict, droughts and floods, environmental disasters, as we’ve seen even in our own country.


Helping refugees is a transnational challenge, but I want to speak for just a minute about what this issue means for Americans and the United States. The United States is the largest single source of support for assistance to refugees and victims of conflict. It’s true financially, where we’ve provided more than $1.7 billion to refugees and conflict victims last year, including $640 million in support for UNHCR. And it’s true diplomatically. We spend a lot of time and a lot of political capital on these issues.


Now, for the United States this has been an enduring commitment, but our work on behalf of refugees is not the result of some grand strategic calculus. We don’t help because it bolsters our ability to play power politics or advance our economic interests, although in the long run I believe it does make our nation stronger and allow us to promote reconciliation and stability in areas of desperation and despair. We help because it is the right thing to do. We happen to believe it’s also the smart thing to do, but even in cases where it doesn't appear all that smart, it’s still often right. And therefore, we proceed.


It goes to the core of who we are as a people and a country, because the United States is not only a nation of immigrants, we are also a nation of refugees. We know from our collective experience that most people want the same basic things in life: safe communities, food, water, lives free of political and religious and other persecution. And when these basic needs go unmet and families are forced to flee their homes in desperation, we should all be there with a helping hand.


Whenever possible, we work to return refugees to their homes in safety and dignity. In cooperation with our many partners from the NGO community, we promote the resolution of conflicts and provide assistance to communities recovering from disasters. And we’re seeing progress in places such as Liberia or South Sudan or Burundi and Nepal.


But when returning home is not an option, we are committed to helping resettle refugees who face the most difficult circumstances. Americans have done that time and time again, welcoming more than 2.5 million refugees into our communities since the Refugee Act became law. And two of the families that have come to the United States are here with us today. The Aradoms from Eritrea face severe persecution as a result of their religious beliefs. Some of their family members are still in prison and they came to the United States after spending years living as refugees in Ethiopia and Egypt. The Gautam family is from Bhutan. Raj spent 17 years living in refugee camps before coming to the United States in 2008. Now, along with his son and daughter, he’s been joined by six of his brothers.


These are just two of what could be countless examples, and the contributions that these refugees have made to our own country are really remarkable. I was very proud that in representing New York I saw the results of the resettlement of refugees throughout New York State and the quick adaptation that refugees from Bosnia or Kosovo or Burma or other places made. So our country has opened its arms to refugees. In fact, two of my predecessors, Madeleine Albright and Henry Kissinger, came to the United States as refugees. And a few steps from the front door of this building, there is a very large statue of another refugee, Albert Einstein.


Now, some of you may remember I wasn’t here last year at the event at National Geographic because I had broken my elbow, and I certainly don’t want any of us dislocating our shoulders from patting ourselves on the back about what we’ve done, but helping vulnerable people is a key element of our foreign policy and Americans should be proud of our country’s work on this issue. But we can’t rest on our laurels. We have to continue working as hard as we know to work to get results, not just to provide quick fixes or maintain an unacceptable status quo.


Last year, I visited a refugee camp in Goma in the Democratic Republic of Congo, and I met and talked with the women and men who had been forced to flee their homes in the face of marauders, rebels, uncontrolled army soldiers – a mix, a witches’ brew of barbarism and horror. And like tens of thousands of people elsewhere, these men and women had lived through a nightmare, particularly the women. And the United States pledged $17 million to help combat sexual violence in Eastern DRC, and I appreciate greatly those working with UNHCR along with many other NGOs and international organizations who are doing extraordinary work at great personal risk. So long as the women of the DRC are threatened by just the most terrible kinds of violations, as long as the men of the DRC cannot raise their families and their crops in peace, then we cannot rest.


Today, I am pleased to announce the United States will be providing $60 million to the United Nations Relief and Works Agency for Palestinian refugees. This contribution will provide critical services such as healthcare and improve life for 4.7 million Palestinians. But again, that is not an answer either. We have to continue working for peace, security, and reconciliation in the Middle East.


So let me thank all of you – the NGOs, the journalists, the development workers, the diplomats and activists – who are working to help the world’s refugees. I hope we can use this day to honor the courage and resilience of the millions of refugees around the world who push forward each and every day with the hope that tomorrow might bring a return home or the hope of a better life. I certainly intend to remain committed to making that hope a reality and I look forward to working with Eric and all of you in doing so.


Thank you very much. (Applause.)


# # #


PRN: 2010/819

Western Union Official Sponsor for World Music Awards

Western Union Official Sponsor for World Music Awards
St. Helens, Ore., residents win company sweepstakes to attend event in Monaco


ENGLEWOOD, Colo. (June 17, 2010) /PRNewswire/ — The Western Union Company (NYSE:WU), a leader in global payment services, is the official sponsor for this year’s World Music Awards, airing in the United States and Canada on My Network TV tonight.

The World Music Awards, held this year in Monaco, is the most widely broadcast awards show in the world, with more than 1 billion viewers in over 150 countries worldwide.

To promote its sponsorship of the event, Western Union held its first-ever mobile sweepstakes, the yes! box campaign. Prizes included iPod Touch music players, prepaid Visa gift cards, and a trip for two to the World Music Awards. More than 70,000 people played the sweepstakes, drawing 28,000 unique visitors to Western Union’s website, www.westernunion.com.

Grand-prize winners Mandy McCalister and Michelle Kaady from St. Helens, Ore., accompanied the Western Union team to the event.

About Western Union
The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Custom House branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. The Western Union, Vigo and Orlandi Valuta branded services are offered through a combined network of more than 420,000 agent locations in 200 countries and territories. In 2009, The Western Union Company completed 196 million consumer-to-consumer transactions worldwide, moving $71 billion of principal between consumers, and 415 million business payments. For more information, visit www.westernunion.com.

Media Contact:
Kristin Kelly
The Western Union Company
+1 720.332.4751
kristin.kelly@westernunion.com

Illicit Cigarette Trade Funds Terrorism and Organized Crime

18 Jun 2010 06:20 Africa/Lagos


Illicit Cigarette Trade Funds Terrorism and Organized Crime

KIEV, Ukraine, June 18, 2010/PRNewswire/ --


There is clear and convincing evidence that large sums are being siphoned from the multi-billion dollar revenues from the global cigarette smuggling trade into the pockets of terrorist networks and international organized crime.


A United Nations Security Council investigative body, the Group of Experts, has reported that millions of dollars in illicit tobacco revenues are reaching al-Qaeda, the Taliban and other terrorist organizations, and is financing Congolese rebels for the recruitment of child soldiers, mass rape and murders.


The World Health Organization's Framework Convention on Tobacco Control has determined that 600 billion counterfeited and smuggled cigarettes cross national borders annually. This represents USD $50 billion in lost proceeds affecting nations throughout the world. The most recent edition of the authoritative Tobacco Atlas, released by the American Cancer Society and World Lung Foundation also concluded: "Cigarettes are the world's most widely smuggled legal consumer product."


Despite disturbing trends in many other nations, the Ukraine, with a population of 45 million, and with porous borders, has an extremely low rate of 1.7% of its total market in contraband tobacco. The Ukraine utilizes the EDAPS Tax Stamp System to control the illicit sales of products and EDAPS is now offering comparable systems to other nations.


"Our hologram technology and enforcement methodology with our Track & Trace System, enables government agencies to not only substantially increase their revenues from the sale of excisable products but to dramatically block illegal uses that often fund transnational criminal and terrorist activities," said Alexander Vassiliev, Chairman of EDAPS.


Since 9-11, the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives has reported that smugglers with ties to terrorist groups were acquiring millions of dollars from illegal cigarette sales and funneling the cash to al-Qaeda and the Taliban. At the same time, the booming black markets are fueling not only terrorist groups but dozens of organized crime gangs, who find the big profits and low risk hard to resist, according to the latest study by the Center for Public Integrity.


The first large-scale cigarette trafficking case tied to terrorism was prosecuted in North Carolina in 2002. A federal jury in Charlotte convicted Mohamad Hammoud, 28, of violating a ban on providing material support to terrorist groups by funneling profits from a multimillion-dollar cigarette-smuggling operation to them. Prosecutors were able to prove that huge profits from the venture were sent to high-ranking terrorist leaders.


"This is a major priority for us," Michael Bouchard, assistant director of the ATF told the Washington Post. "The deeper we dig into these cases, the more ties to terrorism we're discovering."


A Congressional study prepared by the U.S. House Committee on Homeland Security -- "How Cigarette Smuggling is Funding our Enemies Abroad" -- concluded, "Recent law enforcement investigations have directly linked those involved in illicit tobacco trade to infamous terrorist organizations."


A report by the International Consortium of Investigative Journalists -- "Tobacco Underground" -- charts the paths of smugglers working for the Taliban and others. The report explains how the multibillion-dollar business fuels organized crime, robs governments of tax money and spurs addiction.


As the Twelfth United Nations Congress on Crime Prevention and Criminal Justice concluded at their meeting in Brazil last month, "Organized crime and terrorism pose greater threats to international peace and security than ever before."


"We are confident that our EDAPS Tax Stamp System can substantially contribute to global efforts to cut off essential funds from those engaged in a wide range of transnational crime and terrorism," Vassiliev concluded.


Source: EDAPS Consortium

Olga Lyubimova, +38044-5612570 ext. 11, Fax, +38044-5612545


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African Affairs Remarks / US Priorities on sub-Saharan Africa

16 Jun 2010 09:37 Africa/Lagos


African Affairs Remarks / US Priorities on sub-Saharan Africa


WASHINGTON, June 15, 2010/African Press Organization (APO)/ -- African Affairs Remarks / US Priorities on sub-Saharan Africa:


Johnnie Carson


Assistant Secretary, Bureau of African Affairs


Remarks for the Diplomacy Briefing Series Conference


Washington, DC


June 14, 2010

Good afternoon. I would like to thank the Bureau of Public Affairs for organizing the Diplomacy Briefing Series and for inviting me to join all of you today to examine our key priorities in Africa.

I want to begin today by emphasizing the strong commitment of this Administration to working with our African partners to bring about a more peaceful, stable, and prosperous Africa. This Administration sees immense potential in Africa, and we are determined to work with Africans across the continent to help realize this promise.

Often, Africa has been overlooked as a top policy priority for the U.S. Government. I can tell you that this is not the case with this Administration. President Obama is not complacent about Africa, and is determined to forge a deeper and more lasting impact on our relationship with the continent, not just through words, but through concrete action.

As evidence of this commitment, Vice President Biden concluded just yesterday a week-long trip to Africa—a trip in which I participated. Some in the media focused on the World Cup as the centerpiece of this Africa visit, but this trip was more about substance than sport. The Vice President used this trip to focus on one of the Administration's highest priorities in Africa: the current situation in Sudan. In Egypt, the Vice President met with President Mubarak and other senior government officials to discuss Sudan policy. In Kenya, we met with Salva Kiir, the President of the Government of South Sudan and other South Sudanese leaders. And in South Africa, I accompanied the Vice President to his extended meeting with Thabo Mbeki, the AU's point person on Sudan.

The Vice President's trip was just the most recent example of high-level engagement by this Administration in Africa. The President's visit to Ghana last July, the earliest visit made by a U.S. president to the continent, underscored Africa's importance to the U.S. And last September, at the UN General Assembly, the President hosted a lunch with 26 African heads of state. Over the past year, he has also met in the oval office with President Ellen Johnson-Sirleaf of Liberia, President Kikwete of Tanzania, President Khama of Botswana, and Prime Minister Morgan Tsvangarai of Zimbabwe. And during the Nuclear Summit in April of this year, the President also met with President Goodluck Jonathan of Nigeria and President Zuma of South Africa.

All of the President's senior foreign policy advisors have followed his lead by traveling to Africa. The U.S. Permanent Representative to the United Nations Ambassador Susan Rice visited five African countries last June, including Liberia and Rwanda. Deputy Secretary of State Jack Lew traveled to Ethiopia and Tanzania in June 2009, and was in Mali and Nigeria just last month.

Undersecretary of State for Democracy and Global Affairs Maria Otero headed the U.S. delegation to the African Union Summit in Addis Ababa in January 2010, where we discussed a range of issues, including democracy and governance, climate change, and food security. Last month, she led the U.S. delegation to Abuja to the first meeting of the Democracy and Governance working group of the U.S.-Nigeria Binational Commission. And last August, Secretary Clinton made an 11-day, seven-country trip across the continent.

These high-level visits are a testament to the importance this Administration places on Africa, and our commitment to meet and work with our partners to address the immense challenges facing the continent. Through our engagement and programs, the Administration is seeking to advance five key policy priorities on the continent.

First: We are working with African governments, the international community, and civil society to strengthen democratic institutions and protect the democratic gains made in recent years in many African countries.

Since the 1990's, we have witnessed an impressive wave of democratic transitions, during which dozens of African countries moved from dictatorship to democracy, in one of the most impressive political transformations in history. Recent democratic elections, including those in South Africa, Botswana, Namibia, Mauritius, and Ghana, have served to remind the world of the importance that Africans attach to democracy, as well as the values that underpin it. The recent elections in Ghana and Mauritius were especially impressive, as they have resulted in a peaceful, democratic transition between two political parties.

Nonetheless, we have seen worrying signs of backsliding in terms of democracy and good governance in a number of countries as a result of flawed elections, harassment of opposition groups, and attempts by presidents to extend their term limits. We have also seen a recurrence of military coups and interventions in several countries.

The political and economic success of Africa depends a great deal on the effectiveness, sustainability, and reliability of its democratic institutions. We are encouraging governments across the continent to get elections right. To level the playing field, clean up the voter rolls, open up the media, count the votes fairly, and give democracy a chance.



Source: US Department of State

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The New York Times Ranks as Top Online Newspaper

16 Jun 2010 18:30 Africa/Lagos



The New York Times Ranks as Top Online Newspaper According to May 2010 U.S. comScore Media Metrix Data

"The good news for publishers is that even as print circulation declines, Americans are actually consuming as much news as ever - it's just being consumed across more media," said Jeff Hackett, comScore senior vice president.

"The Internet has become an essential channel in the way the majority of Americans consume news content today with nearly 3 out of 5 Internet users reading newspapers online each month. As news evolves towards a more digital model, the issue is not attracting the eyeballs, but rather demonstrating the true value of those eyeballs to advertisers. As advertising rates for digital move closer into line with those of traditional media, the economics of the news business should begin to look a lot more promising."


U.S. Online Newspaper CPMs Nearly 3 Times Higher than Average

RESTON, Va., June 16 /PRNewswire-FirstCall/ -- comScore, Inc. (NASDAQ: SCOR) , a leader in measuring the digital world, today released a report of the top U.S. online newspaper groups based on the comScore Media Metrix service. The newspaper category represents the first site category for which each of the top ten ranked entities has transitioned to the comScore Media Metrix 360 (Unified Digital Measurement) methodology.


(Logo: http://photos.prnewswire.com/prnh/20080115/COMSCORELOGO)

(Logo: http://www.newscom.com/cgi-bin/prnh/20080115/COMSCORELOGO)

Click here to see tables

The report showed that more than 123 million Americans visited newspaper sites in May, representing 57 percent of the total U.S. Internet audience, as the New York Times Brand led the category with more than 32 million visitors and 719 million pages viewed during the month. The average visitor viewed 22 pages of content on the New York Times, also leading the top ten. Tribune Newspapers ranked second in terms of audience with 24.8 million visitors, followed by Advance Internet (18.1 million visitors) and USA Today Sites (16.8 million visitors).


"The good news for publishers is that even as print circulation declines, Americans are actually consuming as much news as ever - it's just being consumed across more media," said Jeff Hackett, comScore senior vice president. "The Internet has become an essential channel in the way the majority of Americans consume news content today with nearly 3 out of 5 Internet users reading newspapers online each month. As news evolves towards a more digital model, the issue is not attracting the eyeballs, but rather demonstrating the true value of those eyeballs to advertisers. As advertising rates for digital move closer into line with those of traditional media, the economics of the news business should begin to look a lot more promising."


Online Newspapers Attract High CPM Rates from Advertisers


comScore's Ad Metrix service shows that among the top site categories where display ads appeared in April 2010, online newspapers accounted for 2.4 percent of impressions but a higher 6.7 percent of display advertising dollars. The average cost per thousand impressions (CPM) on online newspaper sites was $7, higher than each of the other top site categories and nearly three times the average CPM for the total U.S. Internet at $2.52.


"Online newspapers represent premium inventory for advertisers," added Hackett. "comScore research conducted last year for the Online Publishers Association showed that visitors who are exposed to display ads on news sites are more likely than average to visit the advertiser website, are heavier online buyers and tend to have higher household income. Online news publishers are also leading the way in the use of newer display ad formats, which are aiming to create a richer, more engaging experience for consumers."


In particular, online newspapers have demonstrated significantly faster adoption of the new OPA ad units. While these units currently account for just 0.06 percent of all display ads delivered online in the U.S., they account for 0.43 percent of ads on newspaper sites, or seven times higher than average. Notably, the Fixed Panel 336 x 860 unit is the most popular unit being used on newspaper sites among the new OPA units at a rate 35 times higher than average.


About comScore


comScore, Inc. (NASDAQ:SCOR) is a global leader in measuring the digital world and preferred source of digital marketing intelligence. For more information, please visit www.comscore.com/companyinfo.


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Nike Oshinowo-Soleye Brings Back Miss Nigeria

Miss Nigeria organiser Nike Oshinowo-Soleye, flanked by past Miss Nigeria winners


Former Queen of the rested Miss Nigeria Beauty Pageant Nike Oshinowo-Soleye is poised to relaunch the beauty pageant according to a news report published by the NEXT newspaper.

Continental Airlines Announces New Daily Service From Houston Hub to Lagos, Nigeria

14 Jun 2010 16:06 Africa/Lagos


Continental Airlines Announces New Daily Service From Houston Hub to Lagos, Nigeria

- First daily scheduled service offered between Texas and Africa - New Africa route to be flown with the Boeing 787 Dreamliner - Planned as Continental's first new international service to operate with the new jet - Nonstop flight will reduce travel time between the two cities by over four hours

HOUSTON, June 14 /PRNewswire-FirstCall/ -- Continental Airlines (NYSE: CAL) today announced plans to launch new daily nonstop flights between Houston and Lagos, Nigeria, beginning Nov. 10, 2011, subject to government approval. It will be the first daily scheduled service offered between Texas and Africa by any carrier.


Lagos will be Continental's first destination in Africa and the 30th city in its trans-Atlantic route network. It is the second new international destination announced in the last month that will be served nonstop from Houston, Continental's largest hub. Continental currently serves 63 international destinations nonstop from Houston and recently announced plans to begin nonstop service between Houston and Auckland beginning Nov. 16, 2011, subject to government approval.


With the addition of flights to Africa, Houston will become one of just four cities in the world - and the only city in the Western Hemisphere - to have nonstop service to every inhabited continent on the globe.


"We are excited to continue to expand our international route network from Houston by adding nonstop service to Lagos," said Jeff Smisek, Continental's chairman, president and chief executive officer. "This flight will link two energy capitals and fill the growing demand for nonstop service between the two cities - a route which is currently not served by any other airline."


On May 3, Continental announced that it has agreed to merge with United Airlines in a merger of equals to create the world's leading airline. The success of the Houston-Lagos route will be enhanced by the additional traffic flows through Houston that are expected to result from the merger.


"Houston stands to gain economically from this new direct connection to Africa, particularly in our energy and tourism industries," said Houston Mayor Annise Parker. "It's a win that will help facilitate increased commerce and trade, a direct benefit to the businesses and citizens of both regions."


"It is vitally important to our local economy that Continental continue to expand and add critical destinations like Lagos, Nigeria, for service from Houston's Intercontinental Airport," said Congressman Gene Green. "This new route will also prove important for the growth of our energy industry here in Houston."


"With this new USA-Africa route, Continental is doing more to make the business of international business its business and that's a good thing," said Congressman Al Green.


"This new service will drive the creation of new business connections between Houston and Nigeria, particularly in the energy sector," said Congressman Kevin Brady. "Growth at Houston's Intercontinental airport helps create jobs here at home and bring in dollars to our communities while offering more options for our business travelers."


"As international trade continues to be an increasingly integral part of growing our economy, this improved service by Continental will enhance economic development and create jobs not only for the energy industry, but for all Houston and the state of Texas as a whole," said Texas State Senator Rodney Ellis.


Proposed Schedule


Continental will operate the approximately 6,500-mile flight with a Boeing 787-8 Dreamliner aircraft, seating 36 customers in BusinessFirst and 192 customers in economy class. Flying times will be approximately 11 hours eastbound, and 12 hours 30 minutes westbound. The new flight will reduce travel time between the two cities by over four hours by eliminating any connection en route.


The preliminary schedule for the new service is as follows:

Leave Houston Arrive Lagos Leave Lagos Arrive Houston
9:40 a.m. (next 4:40 p.m.
Winter 3:45 p.m. day) 11:10 a.m. (same day)
------ --------- --------------- ---------- ----------
9:15 a.m. (next 4:40 p.m.
Summer 3:50 p.m. day) 10:45 a.m. (same day)
------ --------- --------------- ---------- ----------


The flight will be timed to provide convenient connections at Continental's Houston hub to more than 100 other cities throughout the U.S., Canada, Latin America and the Pacific. Continental will begin taking reservations and selling tickets on the new route later this year.


About Lagos


Lagos is the economic, commercial and cultural center of Nigeria, the most populous country in Africa. The metropolitan area, an estimated 300 square kilometers located on the Atlantic coast of Africa, is a group of islands endowed with creeks and a lagoon. Lagos is Nigeria's leading port, particularly for imports of consumer goods, foodstuffs, motor vehicles, machinery and industrial raw materials, with more than half of Nigeria's industrial capacity located in Lagos's mainland suburbs.


Continental Background


Continental Airlines is the world's fifth largest airline. Continental, together with Continental Express and Continental Connection, has more than 2,700 daily departures throughout the Americas, Europe and Asia, serving 132 domestic and 137 international destinations. Continental is a member of Star Alliance, which overall offers more than 21,050 daily flights to 1,167 airports in 181 countries through its 27 member airlines. With more than 40,000 employees, Continental has hubs serving New York, Houston, Cleveland and Guam, and together with its regional partners, carries approximately 63 million passengers per year.


Continental consistently earns awards and critical acclaim for both its operation and its corporate culture. For nine consecutive years, FORTUNE magazine has ranked Continental as the top U.S. airline on its "World's Most Admired Companies" airline industry list. For more company information, go to continental.com.


Important Information For Investors And Stockholders


This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. The proposed merger of equals transaction between UAL Corporation ("UAL") and Continental Airlines, Inc. ("Continental") will be submitted to the respective stockholders of UAL and Continental for their consideration. UAL will file with the Securities and Exchange Commission ("SEC") a registration statement on Form S-4 that will include a joint proxy statement of Continental and UAL that also constitutes a prospectus of UAL. UAL and Continental also plan to file other documents with the SEC regarding the proposed transaction. INVESTORS AND SECURITY HOLDERS OF CONTINENTAL ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and stockholders will be able to obtain free copies of the joint proxy statement/prospectus and other documents containing important information about UAL and Continental, once such documents are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov/. Copies of the documents filed with the SEC by UAL will be available free of charge on UAL's website at www.united.com under the tab "Investor Relations" or by contacting UAL's Investor Relations Department at (312) 997-8610. Copies of the documents filed with the SEC by Continental will be available free of charge on Continental's website at www.continental.com under the tab "About Continental" and then under the tab "Investor Relations" or by contacting Continental's Investor Relations Department at (713) 324-5152.


UAL, Continental and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Continental in connection with the proposed transaction. Information about the directors and executive officers of Continental is set forth in its proxy statement for its 2010 annual meeting of stockholders, which was filed with the SEC on April 23, 2010. Information about the directors and executive officers of UAL is set forth in its proxy statement for its 2010 annual meeting of stockholders, which was filed with the SEC on April 30, 2010. These documents can be obtained free of charge from the sources indicated above. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available.


Cautionary Statement Regarding Forward-Looking Statements


This communication contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that are not limited to historical facts, but reflect Continental's and UAL's current beliefs, expectations or intentions regarding future events. Words such as "may," "will," "could," "should," "expect," "plan," "project," "intend," "anticipate," "believe," "estimate," "predict," "potential," "pursue," "target," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Continental's and UAL's expectations with respect to the synergies, costs and other anticipated financial impacts of the proposed transaction; future financial and operating results of the combined company; the combined company's plans, objectives, expectations and intentions with respect to future operations and services; approval of the proposed transaction by stockholders and by governmental regulatory authorities; the satisfaction of the closing conditions to the proposed transaction; and the timing of the completion of the proposed transaction.


All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of Continental and UAL and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to, (1) the possibility that the proposed transaction is delayed or does not close, including due to the failure to receive required stockholder or regulatory approvals, the taking of governmental action (including the passage of legislation) to block the transaction, or the failure of other closing conditions, and (2) the possibility that the expected synergies will not be realized, or will not be realized within the expected time period, because of, among other things, significant volatility in the cost of aircraft fuel, the high leverage and other significant capital commitments of Continental and UAL, the ability to obtain financing and to refinance the combined company's debt, the ability of Continental and UAL to maintain and utilize their respective net operating losses, the impact of labor relations, global economic conditions, fluctuations in exchange rates, competitive actions taken by other airlines, terrorist attacks, natural disasters, difficulties in integrating the two airlines, the willingness of customers to travel by air, actions taken or conditions imposed by the U.S. and foreign governments or other regulatory matters, excessive taxation, further industry consolidation and changes in airlines alliances, the availability and cost of insurance and public health threats.


UAL and Continental caution that the foregoing list of factors is not exclusive. Additional information concerning these and other risk factors is contained in Continental's and UAL's most recently filed Annual Reports on Form 10-K, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other SEC filings. All subsequent written and oral forward-looking statements concerning Continental, UAL, the proposed transaction or other matters and attributable to Continental or UAL or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Neither Continental nor UAL undertakes any obligation to publicly update any of these forward-looking statements to reflect events or circumstances that may arise after the date hereof.


Source: Continental Airlines

CONTACT: Corporate Communications of Continental Airlines,
+1-713-324-5080, corpcomm@coair.com


Web Site: http://www.continental.com/
http://www.continental.com/company/news



10 Jun 2010
20:04
Progress in Regulatory Reform Expands Business Opportunities throughout Nigeria

Black Radio Network Sues NYPD

15 Jun 2010 02:51 Africa/Lagos


Black Radio Network Sues NYPD


NEW YORK, June 14 /PRNewswire/ -- Black Radio Network (BRN) and its principals today filed suit in New York Federal District Court, charging the New York Police Department violated the minority news service's civil rights by denying the renewal of its working press credentials.


BRN had been fully accredited by the NYPD for the past 40 years while serving radio stations with daily newsfeeds. It is the nation's oldest such minority news service.
"It appears the standard now used by the NYPD to deny the vital press credentials of Black Radio Network differs from the standard applied to non-minority oriented media," declared BRN attorney Earl Ward. "The facts speak for themselves," said Ward.


"We have waited more than a year to have our credentials renewed so that we can cover New York news, in our own style, on a equal footing with other media companies," said BRN president and news director Jay Levy.

"We have held up the worldwide distribution of our daily Minority News report at blackradionetwork.com until such time as we gain the renewal of our working press credentials by the NYPD," said Levy. "In my more than 50 years in the New York news business, I never witnessed such discriminatory treatment by the NYPD," observed the BRN official.


Contact: Earl Ward at 212-763-5070; Jay Levy at 212-686-6850

A FULL COPY OF THE BLACK RADIO NETWORK FEDERAL COMPLAINT AGAINST THE NYPD IS AVAILABLE BY CLICKING HERE


Source: Black Radio Network


CONTACT: Earl Ward, +1-212-763-5070; or Jay Levy, +1-212-686-6850

Web Site: http://www.blackradionetwork.com/

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