Cyient Reports The Quarter With Continued Growth In Revenue, Profit And Cash
~ Performance in line with outlook for FY19 with PROGRESS in A&D, Transportation and IE&NR ~
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Cyient Reports The Quarter With Continued Growth In Revenue, Profit And Cash
~ Performance in line with outlook for FY19 with PROGRESS in A&D, Transportation and IE&NR ~ – Highest ever group annual revenue at $660Mn; growth of 8.7% in $ terms, 10.1% in CC terms; group revenue at ₹46,175 Mn, growth at 17.9% – Highest ever annual operating profit at ₹6,443; growth of 17.3% post NBA investments – Highest ever services operating margin at 16.4% for last 20 quarters, growth of 120 bps YoY – Services revenue at $ 146.9Mn; growth of 1.7% QoQ (1.4% in CC), 2.9% YoY – Group operating margin at 15.1% - highest in the last 20 quarters; expansion of 33 bps QoQ HYDERABAD, India, April 25, 2019 /PRNewswire/ -- Cyient (Estd: 1991, NSE: CYIENT), a global provider of engineering, manufacturing, geospatial, network, digital and operations management solutions to global industry leaders, today reported its consolidated financial results for the fourth quarter (Q4) of FY 2019 ending March 31, 2018. Financial Highlights:For FY2019 Group revenue at $660Mn; growth of 8.7%, 10.1% in CC terms Group revenue at ₹46,175 Mn; YoY growth at 17.9%Services revenue at $580 Mn; growth of 6.3% (7.6% in CC) DLM revenue at $79.7Mn; growth of 29.3% Highest ever operating profit at ₹6,443; growth of 17.3% post NBA investments Highest ever normalized profit after tax at ₹4,898 Mn; growth of 14.0% Highest ever Free Cash flow at ₹3,770 Mn Free Cash Flow conversion at 48.4% Highest ever final dividend at ₹9/share, ₹15/share for the full year Including buy back of ₹200 crores, the pay-out is ~82%For Q4 FY19 Highest ever services operating margin at 16.4% for last 20 quarters, growth of 120 bps YoY Services revenue at $ 146.9Mn; growth of 1.7% QoQ (1.4% in CC), 2.9% YoY Group operating margin at 15.1% - highest in the last 20 quarters; expansion of 33 bps QoQ Lowest ever ETR at 15.2%; lower by 719 bps QoQ, 651 bps YoY Highest ever normalized Profit After Tax (PAT) at ₹1,881 Mn; growth of 104.2% QoQ; 54.7% YoYBusiness Highlights YoY revenue growth in A&D, Transportation and IE&NR stood at 5%, 9% & 6% respectively NAM & APAC YoY revenue growth of 2%, 23% respectively Rolled out a portfolio of services and solutions for 5G deployment Selected by UK power portal networks to develop an outage planning portal Tripartite MoU with the Government of Telangana and Telangana State Aviation Academy (TSAA) for Drone Pilot Training and Certification Programs Launched Cybersecurity Security Operations Centre (SOC) 16 NBA programs in full swing - Proposal submission and advanced level discussion on a few projects with customers Balance 26% in Cyient DLM Pvt. Ltd. purchasedMessage from the Management Commenting on the results, Mr. Krishna Bodanapu, Managing Director and Chief Executive Officer, said, "Our performance was lower than the initial expectations both on revenue and margin. Our revenue for the quarter stood at $165.2 Mn which was a 3.3% growth YoY and 0.3% degrowth QoQ in constant currency. In USD our revenue for the quarter was flat QoQ. We recorded the highest group operating profit margin of 15.1% since the acquisition of Cyient DLM. This was achieved due to operational efficiencies; incremental bill days and lower SG&A spend in the quarter. We also recorded our highest ever services revenue this quarter driven by Semiconductor, Utilities & Geospatial and Transportation business segments. Our Design led Manufacturing (DLM) BU witnessed a degrowth mainly on account of our defocus from non-margin generating clients and push out of an order due to documentation issues. For the year we delivered a strong performance. We witnessed a growth of 10.1% YoY in constant currency, due to performance in Semiconductor, Communications, Transportation and Aerospace and Defense business segments. We also recorded our highest ever PAT at INR 4,898 Mn an increase of 14% YoY. This year saw an increased momentum in strategy execution resulting in acquisition of Ansem N.V (in April2018) a leading fabless, custom analog and mixed-signal application-specific integrated circuits (ASICs) design company and 100% stake in Cyient Insights, a data science company (formerly named Invati Insights) of which Cyient had acquired 51% stake in 2014. We also acquired additional 26% stake in Cyient DLM in the year. The acquisitions allow us to create a unique and comprehensive ecosystem of engineering capability, emerging technologies and design led manufacturing capability which not only enables Cyient to meet global customer expectations, but also to achieve our strategic goal of providing complete systems and solutions to clients across industries. We also won many accolades through the year and were recognized by major industry analysts. The key among them being Pratt & Whitney supplier awards for 'Supplier Highest Productivity' Award, 'Supplier Innovation' Award and 'Consistent Supplier Productivity' Award. The awards reflect Cyient's continued focus on excellence, innovation, and success within its Pratt & Whitney Center of Excellence (CoE). This year we were also ranked as an 'Established and an Expansive' player by Zinnov, a global consulting and advisory firm, in its 2018 report on engineering R&D services. Cyient was also placed in the 'Leadership Zone' across four industry verticals—aerospace, energy & utilities, transport, and construction & heavy machinery – retaining its leadership position of several years. Our outlook for FY20 remains strong backed by a strong pipeline and order backlog. We expect a high single digit growth in our services business while DLM business is expected to grow in the range of 15%. We will deliver a double-digit EBIT growth this year." Commenting on the results, Mr. Ajay Aggarwal, President & CFO, said, "I am pleased to share that for FY19, we saw a strong and a well-rounded performance with earnings growth of 14% (Normalised EPS at ₹ 43.4) and operating profit growth of 17.3%. The revenue stood at $660 Mn with highest ever operating profit in INR terms (₹ 6443 Mn) and normalised PAT (₹ 4,898 Mn). Healthy conversion of Free Cash Flow to EBITDA at 48.4% culminating into a highest ever Free Cash Flow of ₹3,770 Mn. We also declared a highest ever final dividend of ₹10/share, taking the total dividend for the year to ₹15/ share. The company embarked on a special initiative of a buy-back of INR 200 crores which progressed well on anticipated lines. The NBA program is garnering good traction and we are very confident that it would accelerate Cyient's EPS growth by 1.5-3%, from FY21 onwards. Profit improvement initiatives including cost optimisation and operational efficiency is on top priority. This would reflect in the results in the short-term. We are confident of delivering a strong performance in FY20. We are actively pursuing opportunities in organic and inorganic investments. Cyient would continue to focus on its commitments and the investor expectations aiming to maximize the shareholder's wealth." Business performance and outlook Aerospace & DefenceAerospace & Defense (A&D) BU witnessed a growth of 0.4% QoQ and 5.4% YoY in constant currency. There was marginal growth in services business led by key accounts. The shortfall was primarily from the DLM and analytics business and workload challenges in Singapore business. The BU is witnessing strong traction across the product lifecycle and will continue to invest in S3 strategy to drive growth. The momentum is expected to continue into FY20 and the outlook for the year remains positive driven by growth in Avionics and DLM segments. CommunicationsThe Communications BU witnessed a degrowth of 3.7% QoQ and 2.5 % YoY in constant currency. This has been a particularly difficult quarter for the BU as most of the deals got pushed to early next year. The delay in decision making on couple of large programs and work allocation being restricted impacted performance in the quarter. The BU launched various 5G offerings and is supporting a large carrier in their 5G road map. Focus on IoT, Open Source and RPA are expected to be key technological advancements in 2020. The BU expects a stronger momentum in FY20. Utilities & GeospatialUtilities and Geospatial BU witnessed a growth of 3.2% QoQ and 0.8% YoY in constant currency. The growth in the BU was driven by new customer additions and new solutions offerings. More established solution offerings like iDMS for utilities and road health analytics for geospatial continue to gain traction. The BU expects a strong growth in FY20 in Europe and North American markets backed by a strong pipeline and continued interest in solutions across all geographies. TransportationTransportation BU witnessed a growth of 3.5% QoQ and 14.8% YoY in constant currency driven by momentum in key accounts and new project wins. The BU continues to make significant progress in identifying opportunities and launching new solution offerings in areas such as Augmented Reality, Smart Asset Maintenance & Cab Alarm notification. The outlook for the year continues to remain positive driven by strong industry growth in key segments, healthy pipeline and long term relationships. Industrial, Energy and natural resources (IE&NR)IE&NR BU witnessed growth of 0.6% QoQ and 8.6% YoY in constant currency. The BU experienced delays in key client projects. The BU continues to witness a strong pipeline in connected equipment, power and asset health monitoring solutions with new opportunities in both existing and new clients. The mining segment is showing growth in asset health monitoring as they continue to focus on operational efficiency and automation. The power business is seeing new opportunities in turbine design and engine controls systems. The industrial business has new opportunities in augmented and virtual reality, manufacturing engineering and electronics. The BU is expected to witness growth in FY20 driven by continued performance in key accounts. Semiconductor, Internet of Things & Analytics (SI&A)Semiconductor BU witnessed a growth of 22.5% QoQ and 47.8% YoY in constant currency terms. Our key Accounts continued to see moderate growth while new clients contributed to additional growth. Our Turnkey ASIC business saw significant new design wins in the quarter. Despite significant headwind and margin pressure on our traditional layout and physical design services, we increased our focus on pre-silicon verification and post-silicon validation in semiconductor design services, deploying innovative equipment in our Hyderabad and Bangalore labs. This focus is helping us create momentum with clients. We continue to work with new clients, expanding our foray into unique and growing applications in AI and autonomous driving. Our outlook for FY20 continues to remain positive based on opportunities identified with key clients and the challenges that our services and solutions are primed to address. Medical Technology and HealthcareThe Medical Technology and Healthcare (MT&H) BU delivered a growth of 4.3% QoQ and 9.7% YoY in constant currency in a seasonally slow quarter. This quarter saw increased focus on both services and design led manufacturing with an increased pipeline for large transformational opportunities providing end-to-end product development services to strategic segments. We are focused on strengthening the sales funnel and backlog and are optimistic about new business. The BU expects to witness strong growth through FY20 driven by growth in strong pipeline, order intake, venture investments and ecosystem partnerships. Design Led ManufacturingDLM BU degrowth of 11.9% QoQ and 10% YoY in constant currency terms. The QoQ growth was impacted by change and seasonality in oder intake in India Israel business. Our planned exit from a major customer due to low margins also impacted our growth. Our outlook for FY20 continues to remain positive based on strong pipeline and order intake. Operational Highlights CSR Activities Received "CSR Leadership" Award from ET Now in Community Development category Continue to support 25 Government Schools – providing education to 15800+ underprivileged children Continue to support 67 Cyient Digital Centers (CDCs) in around Hyderabad to more than 27000+ children and 5,500+ community members Provided training to a pilot batch of 300 unemployed women on tailoring, bakery and beauty courses through the Cyient Urban Micro Sill Center (CUMSC) for urban poorAwards & Recognitions Positioned as an established and expansive player in Zinnov Zones' ER&D services report 2018 Recognized as a "Major Contender" in Everest Group's Peak Matrix Medical Device Engineering Services Assessment 2019 Cyient & India2022 coalition Launched Medtech Connect platform to address India's last – mile challenge in healthcare Cyient Finance team won the "Best Risk Management Systems and Framework" award in the Treasury Risk and Compliance Excellence by Kamikaze B2B MediaFuture Outlook for FY20 Revenue Growth High single digit growth for Services in constant currency DLM business expected to grow by ~ 15% in constant currencyEBIT Double digit growth in Earnings Before Interest and Tax Others ETR likely to be in the range of 22.5% - 23.5% Other income is expected to be marginally higher than current year based on a strong forex forward position (at current spot rate) and recurring export incentivesAbout Cyient Cyient (Estd: 1991, NSE: CYIENT) provides engineering, manufacturing, geospatial, digital, networks, and operations management solutions to global industry leaders. Cyient leverages the power of digital technology and advanced analytics capabilities, along with domain knowledge and technical expertise, to solve complex business problems. As a Design, Build and Maintain partner, Cyient takes solution ownership across the value chain to help clients focus on their core, innovate, and stay ahead of the curve. Relationships form the core of how Cyient works. With over 15,000 employees in 22 countries, Cyient partners with clients to operate as part of their extended team, in ways that best suit their organization's culture and requirements. Cyient's industry focus includes aerospace and defense, medical, telecommunications, rail transportation, semiconductor, utilities, industrial, energy and natural resources. For more information, please visit www.cyient.com. Follow news about the company at @Cyient. Media Relations Meeta SinghBoard: +91 40 6748 9100Mobile: +91 994 906 5300Email: Meeta.Singh@cyient.com DisclaimerThis document contains certain forward-looking statements on our future prospects. Although Cyient believes that expectations contained in these statements are reasonable, their nature involves a number of risks and uncertainties that may lead to different results. These forward-looking statements represent only the current expectations and beliefs, and the company provides no assurance that such expectations will prove correct. All the references to Cyient's financial results in this update pertain to the company's consolidated operations comprising wholly-owned and Step-down subsidiaries Cyient Europe Limited; Cyient Inc.; Cyient GmbH; Cyient Australia Pty Ltd; Cyient Singapore Private Limited; Cyient KK; Cyient Israel India Limited; Cyient Insights Private Limited; Cyient Canada Inc.; Cyient Defense Services Inc.; Certon Software Inc.; Certon Instruments Inc.; B&F Design Inc.; New Technology Precision Machining Co. Inc.; Cyient Insights LLC; Cyient Benelux BV; Cyient Schweiz GmbH; Cyient SRO; AnSem NV; AnSem B.V.; Cyient AB; partly owned subsidiaries Cyient Solutions and Systems Private Limited; Cyient DLM Private Limited; joint venture Infotech HAL Ltd (HAL JV) & associate company Infotech Aerospace Services Inc. (IASI) until 8th December 2017. The income statement and cash flow provided is in the internal MIS format. MIS format is different from the income statement published as part of the financial results, which is as per the statutory requirement. View original content to download multimedia:http://www.prnewswire.com/news-releases/cyient-reports-the-quarter-with-continued-growth-in-revenue-profit-and-cash-300838519.html SOURCE Cyient
2019 Bike Commuter of the Year Winners Announced
SAN FRANCISCO, April 25, 2019 /PRNewswire/ -- This week Bay Area Bike to Work Day (BTWD) organizers named the winners of the 2019 Bike Commuter of the Year awards. Given to individuals for inspiring bicycling in their Bay Area communities, the Bike Commuter of the Year award recognizes a winner from each of the nine San Francisco Bay Area counties for their commitment to bicycling as their primary mode of transport.
Docutrax Selected to Oversee New Subcontractor Compliance Program of ProSight Specialty Insurance
PARSIPPANY, N.J., April 25, 2019 /PRNewswire/ -- Docutrax, a division of Risk Toolbox, Inc., today announced an exclusive, long-term partnership with ProSight Specialty Insurance of New York, New York and Morristown, New Jersey. Under terms of the agreement, Docutrax will be responsible to manage, verify and maintain contractual insurance compliance of the subcontractors of ProSight's nationwide book of general contractor Construction business.
Aphria Announces Expiry and Termination of Green Growth Brands Take-Over Bid
LEAMINGTON, ON, April 25, 2019 /CNW/ - Aphria Inc. ("Aphria" or the "Company") (TSX: APHA and NYSE: APHA) today announced that the previously announced take-over bid (the "Offer") by Green Growth Brands Inc. ("GGB") has failed to meet the statutory minimum tender condition and has now expired and is terminated. As previously announced on April 15, 2019, the Company entered into a definitive agreement with GGB to accelerate the expiry date of the Offer to April 25, 2019, as well as to terminate certain arrangements with GA Opportunities Corp. ("GAOC") for consideration of $89.0 million payable on future dates as set out in the April 15th press release.
Matson Announces Quarterly Dividend Of $0.21 Per Share
HONOLULU, April 25, 2019 /PRNewswire/ -- The Board of Directors of Matson, Inc. (NYSE: MATX), a leading U.S. carrier in the Pacific, today declared a second quarter dividend of $0.21 per common share. The dividend will be paid on June 6, 2019 to all shareholders of record as of the close of business on May 9, 2019. About the Company Founded in 1882, Matson (NYSE: MATX) is a leading provider of ocean transportation and logistics services. Matson provides a vital lifeline to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, and to other island economies in Micronesia. Matson also operates a premium, expedited service from China to Southern California and provides services to Okinawa, Japan and various islands in the South Pacific. The Company's fleet of owned and chartered vessels includes containerships, combination container and roll-on/roll-off ships and custom-designed barges. Matson Logistics, established in 1987, extends the geographic reach of Matson's transportation network throughout the continental U.S. Its integrated, asset-light logistics services include rail intermodal, highway brokerage, warehousing, freight consolidation, Asia supply chain services, and forwarding to Alaska. Additional information about the Company is available at www.matson.com. Investor Relations inquiries: News Media inquiries: Lee Fishman Keoni Wagner Matson, Inc. Matson, Inc. 510.628.4227 510.628.4534 email@example.com firstname.lastname@example.org View original content to download multimedia:http://www.prnewswire.com/news-releases/matson-announces-quarterly-dividend-of-0-21-per-share-300838816.html SOURCE Matson, Inc.
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KB Home Announces the Grand Opening of Its First Community of ENERGY STAR® Certified Homes in the Seattle Area
April 25, 2019 20:00 UTC KB Home’s Falling Water debut marks the homebuilder’s official launch in the Seattle market, offering stylish, energy- and water-efficient new homes in an established Bonney Lake neighborhood; priced from the $380,000s BONNEY LAKE, Wash.--(BUSINESS WIRE)-- KB Home (NYSE: KBH) today announced the grand opening of Falling Water, establishing the company’s first new-home community in the Seattle market. Tucked inside a highly desirable Bonney Lake neighborhood, Falling Water provides easy freeway access and offers buyers a rare opportunity to own a personalized, ENERGY STAR certified home in the Seattle area from a well-known national homebuilder. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190425005951/en/ New ENERGY STAR certified homes now available in Seattle area. (Photo: Business Wire) At Falling Water, KB Home will construct 96 one- and two-story homes and offer six distinct floor plans. With up to four bedrooms and three baths, and ranging in size from approximately 1,600 to 2,550 square feet, the KB homes at Falling Water feature desirable design characteristics like optional three-car garages, spacious great rooms and elegant master suites. Pricing begins from the $380,000s. “KB Home is thrilled to debut our distinct home building process and ENERGY STAR certified new homes to this vibrant market,” said Ryan Kemp, president of KB Home’s Seattle division. “We believe offering a highly efficient new home that can be personalized to fit the needs of each customer’s unique lifestyle will resonate with Seattle homebuyers.” KB Home’s building process allows buyers to personalize many aspects of their new home to suit their budget and style. After selecting their lot and floor plan, KB homebuyers can work with expert design consultants who will guide them through every aspect of the process as they select from a variety of design choices, including countertops, cabinets, lighting, appliances and window coverings. Located near Washington State Route 410, KB Home’s Falling Water offers convenient commuting to Tacoma and the greater Seattle metro area. Community schools, and dining, shopping, recreation and the beautiful White River Amphitheater, which hosts live music, are all within a few minutes’ drive. Nearby Victor Falls Park features a tranquil hidden waterfall, and abundant natural surroundings are waiting to be explored at Lake Tapps, Crystal Mountain Resort and Mount Rainier National Park. All the KB homes at Falling Water will be built to current ENERGY STAR certification guidelines, will include WaterSense® labeled faucets and fixtures, and will provide advanced indoor air quality systems. Only 10 percent of new homes in the U.S. are currently built to current ENERGY STAR certification guidelines. As such, the KB homes at Falling Water are designed to be more energy and water efficient than most typical new and resale homes available in the area. These energy- and water-saving features are estimated to help save homebuyers between $1,000 and $1,400 a year in utility costs, adding up to potential savings of over $30,000 over the life of a 30-year mortgage, depending on floor plan. “ENERGY STAR certified homes are at least 10 percent more energy efficient than homes built to code and achieve a 20 percent improvement on average, while also providing homeowners with better quality, performance and comfort,” said Chris Hladick, EPA’s Regional Administrator for Region 10. “Together with partners like nine-time Partner of the Year – Sustained Excellence Award Winner KB Home, the ENERGY STAR New Homes Program helped homeowners save three billion kilowatt-hours of electricity, avoid $400 million in energy costs and achieve three million metric tons of greenhouse gas reductions last year.” KB Home will host a grand opening celebration at Falling Water on Saturday, April 27, 11:30 a.m.–1:30 p.m., during which attendees may tour the two elegantly appointed model homes and learn about the benefits of owning an ENERGY STAR certified home. Refreshments will be provided. The Falling Water sales office is located at 17826 122nd St. Ct. E. in Bonney Lake. From Hwy. 410 East, turn right on Sky Island Dr. Turn left on Rhodes Lake Rd. E. and right on Falling Water Blvd. E. Follow the KB Home signs to the community. The Falling Water sales office is open Mondays, 1– 6 p.m., and Tuesdays through Sundays, 10 a.m.–6 p.m. For more information about Falling Water or KB Home’s other new-home neighborhoods, visit www.kbhome.com or call 888-KB-HOMES. About KB Home KB Home (NYSE: KBH) is one of the largest homebuilders in the United States, with more than 600,000 homes delivered since our founding in 1957. We operate in 38 markets in eight states, primarily serving first-time and first move-up homebuyers, as well as second move-up and active adults. We are differentiated in offering customers the ability to personalize what they value most in their home, from choosing their lot, floor plan, and exterior, to selecting design and décor choices in our KB Home Studios. In addition, our industry leadership in sustainability helps to lower the cost of homeownership for our buyers compared to a typical resale home. We take a broad approach to sustainability, encompassing energy efficiency, water conservation, healthier indoor environments, smart home capabilities and waste reduction. KB Home is the first national builder to have earned awards under all of the U.S. EPA’s homebuilder programs — ENERGY STAR®, WaterSense® and Indoor airPLUS®. We invite you to learn more about KB Home by visiting www.kbhome.com, calling 888-KB-HOMES, or connecting with us on Facebook.com/KBHome or Twitter.com/KBHome. View source version on businesswire.com: https://www.businesswire.com/news/home/20190425005951/en/ Contacts Craig LeMessurier, KB Home925-580-1583 email@example.com Source: KB Home Smart Multimedia Gallery Photo New ENERGY STAR certified homes now available in Seattle area. (Photo: Business Wire) Logo View this news release and multimedia online at: http://www.businesswire.com/news/home/20190425005951/en
5 Ideal Reasons for Investing in Utility Stocks
Utility stocks are stocks of companies that deliver essential services such as water, gas, and electricity among others. Utility stock is an ideal conservative option for investors looking for steady higher dividends. You can invest in utility stocks companies through a brokerage firm by buying individual utility stocks, mutual funds that are specialized in the utilities sector or as ETFs that include the select sector SPDR-utilities.
8 Best Stock Investment Apps for Beginners
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5 Common Types of Financial Swaps
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Top 5 Forex Risks Traders Should Consider Before they Invest
Forex exchange market is a global decentralized or over the counter market that facilitates the trading of currencies. Just like in a stock exchange, the traders’ goal is to make a profit by buying low and selling high. Forex markets are highly liquid assets due to the high trading volumes. Some of the most common forex exchange trades include spot transactions, currency swaps, and options, forwards, and foreign exchange swaps. Forex trades face plenty of risks that can result in substantial losses. Here are the top 5 forex risks that every trader should consider before they dive into forex trading: 1. Leverage Risks In forex trading, traders require a small initial investment called a margin which is used as leverage in forex trading to gain access to substantial trades. Price volatility can result in margin calls where the investor is required to commit an additional margin. In highly volatile market conditions, aggressive use of leverage by traders can result in massive losses over initial investments made. 2. Interest Rate Risks Interest rate affects countries exchange rates. If a country’s interest rates rise, the currency strengthens. Investors flood the country as they invest in the country’s assets. In essence, a stronger currency means better returns. On the other hand, if a country interest rates fall, the currency weakens as investors begin to withdraw their investments. Interest rate changes can thus have a dramatic effect on forex prices. 3. Transaction Risks The difference or gap between when a contract is initiated and when it settles poses a transaction risk which is an exchange rate risk. Forex trading usually takes 24 hours, and exchange rates can drastically change any time before a trade settle. Currencies also trade at different prices at different times during the trading process. The greater the gap, the higher the transaction risk. The exchange risk that traders face during the trading hours increase the transaction costs. 4. Counterparty Risk The company that provides the asset to an investor in a financial transaction is called the counterparty. There is a risk of default from the dealer or broker in any particular transaction which refers to the counterparty risk. Spot and forward contracts on currencies do not get a guarantee by an exchange or a clearing house and thus pose a counterparty risk to an investor. The counterparty risk can occur in spot currency trading in the event the market maker end up insolvency. The counterparty can refuse or can be unable to oblige to contracts in highly volatile market conditions. 5. Country Risk An investor must assess the structure and the stability of the issuing country before they invest in currencies. In a majority of developing countries, the exchange rates are pegged to a particular world leader currency such as the US dollar. Central Banks in those countries must sustain sufficient reserves to help maintain good exchange rates. A balance of payments deficit can lead to devaluation of the currency and result in a currency crisis. It can consequently have massive effects on forex prices and trading. Investors can also begin to withdraw their assets if they suspect the currency is likely to decrease in value. It results in further devaluing of the currency. Currency crisis aggravates liquidity and credit risks as the currency devalues the assets become illiquid. The Bottom Line An investor should consider the various risks and losses associated with foreign exchange trading before they invest. While forex assets have the highest trading volume, the risks can lead to massive losses.
Myndshft Names Mark D. Hiatt, MD, to its Board of Directors
MESA, Ariz., April 25, 2019 /PRNewswire/ -- Myndshft, a healthcare technology company that automates and simplifies administrative processes, today announced it has named Mark D. Hiatt, MD, MBA, MS, as the newest member of its board of directors. An established physician executive and innovator with experience as a clinician and chief medical officer, Dr. Hiatt currently serves as Vice President of Medical Affairs for Guardant Health, a pioneer in non-invasive cancer diagnostics and the first company to commercialize a comprehensive genomic liquid biopsy.
DEXON Mainnet Goes Live with Key Industry Supporters and New Brand Identity
NEW YORK, April 25, 2019 /PRNewswire/ -- DEXON, the latest distributed ledger technology solving the blockchain trilemma, today announced the launch of its mainnet with the participation of businesses including Gemstra, simplyBrand, Ledger, and KHAM. A new brand identity and a revamped global website are also unveiled today to reflect DEXON Foundation's long-held commitment to building a universal blockchain ecosystem that hosts a variety of real-world applications.
DEXON Mainnet Goes Live with Key Industry Supporters and New Brand Identity
NEW YORK, April 25, 2019 /CNW/ -- DEXON, the latest distributed ledger technology solving the blockchain trilemma, today announced the launch of its mainnet with the participation of businesses including Gemstra, simplyBrand, Ledger, and KHAM. A new brand identity and a revamped global website are also unveiled today to reflect DEXON Foundation's long-held commitment to building a universal blockchain ecosystem that hosts a variety of real-world applications.
ICONLOOP Appoints James Kim, the Chairman and CEO of AMCHAM Korea, as Its First Advisor
SAN FRANCISCO, April 25, 2019 /PRNewswire/ -- ICONLOOP, one of the largest blockchain enterprises in South Korea, has appointed James Kim, the Chairman and CEO of AMCHAM Korea, as its first company advisor. ICONLOOP has found many ways of incorporating its technology into various industries in Korea and has grown rapidly to encompass approximately 160 employees within three years since its establishment in May 2016. ICONLOOP is making an all-out effort to become a more mature IT company this year as it marks the start of the blockchain's full-fledged market entry. Mr. Kim, who has been leading global companies for over 30 years, and his experience is expected to have a synergistic effect at ICONLOOP. In particular, Mr. Kim, an industry-recognized management expert, is expected to give a big boost to the growth of ICONLOOP. Mr. Kim served as CEO at leading global companies such as GM Korea, Microsoft Korea and Yahoo Korea. He was appointed the Chairman of AMCHAM Korea in 2014, and has been contributing to the successful entry of global companies into Korea and the creation of a healthy business environment as the Chairman and CEO of AMCHAM Korea since 2017. In the future, Mr. Kim plans to work on expanding enterprise business, setting the overall business direction, and establishing macro strategies for ICONLOOP. "Having been in the IT industry for a long time and running global companies, I believe the value that blockchain business will have as the next-generation IT infrastructure and the growth potential of ICONLOOP based on its previous moves and achievements. This is a crucial time for ICONLOOP to expand its business in more concrete and practical ways as the blockchain industry is about to fully grow into a blossoming market. I will help ICONLOOP become a global IT company leading the international stage," said Mr. Kim. Jonghyup Kim, CEO of ICONLOOP, stated, "ICONLOOP has been solidifying its presence in the Korean blockchain industry as a technology partner of Seoul Metropolitan Government, Korea National Election Commission, Korea Financial Investment Association, and Kyobo Life Insurance. ICONLOOP is also continuing its efforts for global business by building smart cities with blockchain as a joint-business partner of WeGO (World Smart Sustainable Cities Organization) and signing a Collaboration Arrangement with ITU. It is an honor to move into the global market hand in hand with James Kim." Contact: Hyejin Kim, firstname.lastname@example.org View original content to download multimedia:http://www.prnewswire.com/news-releases/iconloop-appoints-james-kim-the-chairman-and-ceo-of-amcham-korea-as-its-first-advisor-300838540.html SOURCE ICONLOOP
Markups on Auto Loan Packages reach record high of $1,791, according to the Outside Financial Markup Index
Aberdeen Global Dynamic Dividend Fund Announces Update On Transition, Performance Data And Portfolio Composition
Aberdeen Total Dynamic Dividend Fund Announces Update On Transition, Performance Data And Portfolio Composition