American Youth Stagnant Reading Skills Since 2000 is a National Disgrace
Hong Kong Innovation Foundation Presents 'Think Like Leonardo da Vinci 500th Anniversary Exhibition'
Tourism Authority of Thailand joins hands with Thai private sector to organise biggest national new year countdown fireworks along river at ICONSIAM
Applications now open in Singapore for British Council IELTS Prize (East Asia) 2019/20, supporting 30 test takers to study abroad
Applications now open in Thailand for British Council IELTS Prize (East Asia) 2019/20, supporting 30 test takers to study abroad
Applications now open in Korea for British Council IELTS Prize (East Asia) 2019/20, supporting 30 test takers to study abroad
University of Arizona and Amrita University of India Partner for Education and Research
51job, Inc. Announces Results of Annual Shareholders Meeting
Nexus International School (Singapore) announces issuance of SGD150M of S&P AA-rated bonds
China's Top Business School Launches New Scholarship for Indian Students
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New Humanforce App Makes the Workplace More Accessible for People with a Disability
Helping to increase the employment of a more diverse workforceSINGAPORE, Dec. 12, 2019 /PRNewswire/ -- Humanforce has launched the first workforce management solution app to be fully accessibility compliant, making workplaces in Singapore and across the Asia-Pacific region more inclusive for people with disabilities and an ageing population. The new release of Humanforce's mobile app complies with the Web Content Accessibility Guidelines (WCAG) 2.0 AA rating. This means it meets 100 percent of the recommendations for making content accessible to people with disabilities including colour-blindness and low vision. "There is an unresolved tension between the business and technology vendor desire for integrating the most advanced technology solutions that often best meet the needs of millennial workers, and also making the workplace more inclusive of diversity," explained Mike McGee, Chief Product Officer, Humanforce. "Too often we see the former being the priority at the expense of workers with a disability and those that make up our ageing workforce." Recent research from McKinsey found that businesses with higher diversity are more likely to achieve higher financial performance. However, people with a disability are often overlooked when it comes to workplace diversity. The Ministry of Manpower found in June 2018 that 28.6 percent of people with a disability in Singapore were employed, while 4.2 percent were unemployed but looking for work, which translate to an unemployment rate of 12.9 percent. Additionally, it found that 67.2 percent of people with a disability were outside of the labour force due to poor health or disability. This compares to a 2.3 percent unemployment rate for the entire Singapore population. "Employers can be doing much more to make the workplace more inclusive for the people with a disability currently working and also to increase employment of the many people with a disability looking for work. And as we see the retirement age raised to 35 by 2030 and the re-employment age also go up to 70 by 2030, we're also going to see the number of people with a disability in the workplace increase. "A key piece of the puzzle is ensuring all the workplace technologies a business invests in to increase their success don't work to preference younger workers, while discriminating against workers with a disability and the ageing population," added Mike. Find out more about Humanforce. About Humanforce Humanforce is a global provider of workforce management solutions for companies who need a flexible solution to manage complex workforces. Companies use Humanforce to manage everything from time and attendance, employee rostering, onboarding and availability. Humanforce also has strong partnerships with industry leading payroll providers. Humanforce was founded in Sydney in 2002, and today has offices across Australia, New Zealand, Singapore and the UK. For more information: www.humanforce.com
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INSEAD to Open First Permanent Facility in North America
The INSEAD San Francisco Hub for Business Innovation will offer a leading, cutting-edge, global management education in North America SAN FRANCISCO, Dec. 11, 2019 /PRNewswire/ -- INSEAD, one of the world's leading and largest graduate business schools, today announced the establishment of the INSEAD San Francisco Hub for Business Innovation. Opening in February 2020, the location in downtown San Francisco solidifies INSEAD's global presence, adding to campuses in Europe (Fontainebleau), Asia (Singapore) and the Middle East (Abu Dhabi). Artist rendering of the INSEAD San Francisco Hub for Business Innovation. INSEAD is bringing to North America its global business insights and perspectives, unique among graduate business schools, gained from decades of working with international executives and global organizations. In its first year, the INSEAD San Francisco Hub will offer a tailored selection of executive development programs relevant to the Americas from a portfolio of 50+ global programs. These open enrollment programs will be Transition to General Management, International Directors Programme, Integrating Performance and Progress, Blue Ocean Strategy, Leading Digital Transformation and Innovation and The Future of AI in partnership with Singularity University. INSEAD will also utilize the new facility to hold custom designed programs for US and international companies. Participating executives and organizations from around the world will experience INSEAD's immersive learning methodologies, and gain access to its pathbreaking global research and professors, while simultaneously gaining exposure to the companies and distinctive business culture of Silicon Valley. Beyond executive development, the school's innovative hub concept is to be a dynamic destination for making new connections through an extensive calendar of events, organized in collaboration with corporate partners, alumni and visiting faculty. INSEAD Dean, Ilian Mihov said: "From our origins in postwar Europe, INSEAD has distinguished itself in bringing together diverse people and perspectives to drive learning and build bridges as we develop responsible business leaders. Coming to North America opens an important new chapter in this journey. We are deeply grateful to our many alumni donors who made possible the transformation of this historic building into a state-of-the-art facility for learning and exchange." Dean of Innovation, Peter Zemsky has overseen the development of the new concept. He said: "As tech innovation goes global, business leaders everywhere need to rapidly transform their strategies and organizations. At the same time, tech leaders need to adapt to the dramatically shifting expectations about the impact of their products on societies worldwide. INSEAD is uniquely placed to facilitate this learning through our global faculty and network." INSEAD has been a consistent pioneer in management education with a track record of firsts over its 60-year history: First international business school outside the US when opened in 1959 First business school to offer a one-year MBA program First business school to offer company-specific executive education First business school with full campuses on multiple continents, with the Asia Campus opening in 2000 and the Middle East Campus in 2010 First and only business school to achieve a 'triple first' in rankings - MBA, Executive MBA (Tsinghua-INSEAD EMBA) and Single School Executive MBA (INSEAD GEMBA) in the Financial Times 2016 rankings Visit the INSEAD San Francisco Hub for Business Innovation website for more information, and join the conversation on social media with #INSEADSFhub. Photo - https://photos.prnasia.com/prnh/20191211/2667588-1logo?lang=0 Photo - https://photos.prnasia.com/prnh/20191211/2667588-1?lang=0 Related Links :http://insead.edu
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Applications now open in the Philippines for British Council IELTS Prize (East Asia) 2019/20, supporting 30 test takers to study abroad
The British Council IELTS Prize valued at PHP 4,766,900 will support aspiring students in East Asia[1] to pursue their study abroad dreams at an English-speaking higher education institutionMANILA, Philippines, Dec. 11, 2019 /PRNewswire/ -- British Council in the Philippines is pleased to announce that applications for the British Council IELTS Prize (East Asia) 2019/20 are being accepted until 30 April 2020. The IELTS Prize is open to students who plan to begin undergraduate or postgraduate studies locally or overseas in the 2020/21 academic year. Three motivated students from Philippines will share local prizes, amounting to PHP 982,000 and three outstanding winners in the East Asia region[1] will be awarded regional prizes, totalling up to PHP 3,799,000[2]. The British Council IELTS Prize encourages applicants to pursue their dreams in any discipline they desire. Essential eligibility criteria require that applicants a) hold a minimum band score of 6 in each of the four components of an IELTS test taken with British Council in the East Asia region[1] after 1 April 2019, and b) intend to pursue undergraduate or postgraduate studies locally or abroad at degree level in the 2020/21 academic year at a tertiary institution that accepts IELTS as part of its admission requirements. Shortlisting and interviewing will take place in June 2020. The selection panel will award the IELTS Prize to individuals who show a passion to contribute to society with knowledge and skills they will gain from their studies. "The British Council IELTS Prize (East Asia) is bestowed on young scholars from diverse backgrounds who strive to achieve their study dreams. As an organisation that offers life-changing opportunities through delivering millions of exams annually, we are delighted to support these exceptional individuals to pursue higher education abroad, expand their understanding of the world, and return with new knowledge, improved confidence and fresh insights to serve their home country," says Trish Thomson, Regional Marketing Director, East Asia. Since its launch in 2011, over 270 IELTS test takers have been awarded the IELTS Prize, pursuing tertiary education in destinations abroad, including the UK, US, Canada, Australia, France and Singapore in disciplines ranging from Medicine, Engineering, Science, and Business Management to Public Communication, Media, Performance, and many more. Dillon, Chew Wei Xuan, the Regional Grand Prize 2018/19 winner, currently a first year Biotechnology student at the University of Cambridge, notes, "studying abroad has always been a dream of mine. The British Council IELTS Prize has enabled me to fly the nest and experience the intellectually stimulating and engaging education the University of Cambridge has to offer. I am thrilled to have met lots of like-minded people from all over the world, to share our different interests and experiences, and discuss a wide range of exciting topics from Science to Politics, with English as a common language." Applications for the British Council IELTS Prize (East Asia) 2019/20 will close at 18.00 Philippine time on 30 April 2020. The winners will be announced in July 2020. For more details, please visit https://www.ieltsasia.org/ieltsprize. Remarks: Local and Regional Prize Structure Local Prizes First Prize PHP 393,000 Second Prize PHP 327,000 Third Prize PHP 262,000 Regional Prizes Grand Prize PHP 2,620,000 Second Prize PHP 655,000 Third Prize PHP 524,000 For more information, contact Exams Marketing Manager (Danica Tuliao) on +63-2-8555-3000 or Danica.Tuliao@britishcouncil.org.ph. [1]Participating East Asian countries/territories include Hong Kong/Macau, Indonesia, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam. [2]Actual amount depends on the relevant university's first-year tuition fee for Regional Grand Prize winner. Notes to Editors: About the British Council The British Council is the UK's international organisation for cultural relations and educational opportunities. We work with over 100 countries in the fields of arts and culture, English language, education and civil society. Last year we reached over 80 million people directly and 791 million people overall including online, through broadcasts and publications. We make a positive contribution to the countries we work with - changing lives by creating opportunities, building connections and engendering trust. Founded in 1934 we are a UK charity governed by Royal Charter and a UK public body. We receive 15 per cent core funding grant from the UK government. britishcouncil.org About International English Language Testing System (IELTS) IELTS is the International English Language Testing System, the world's most popular English language proficiency test for higher education and global migration, with over 3.5 million tests taken in the last year. More than 10,000 organizations trust and accept IELTS as a secure, valid and reliable indicator of true-to-life ability to communicate in English for education, immigration and professional accreditation. IELTS is jointly owned by the British Council, IDP: IELTS Australia and Cambridge English Language Assessment. Test takers are measured in listening, reading, writing and speaking. All tests are scored on a banded system from 1 (the lowest) through to 9 (the highest band).Related Links :http://www.britishcouncil.orghttps://www.ieltsasia.orgwww.britishcouncil.org.hk
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New Year's Eve Events at 3 Major Tourist Spots in Kanagawa Pref. Unveiled, with Activities to Welcome 2020
YOKOHAMA, Japan, Dec. 11, 2019 /PRNewswire/ -- The Kanagawa Prefectural Government has unveiled events marking New Year's Eve and New Year at three major tourist spots in the prefecture. New Year's Eve countdown events will be held at Yokohama Hakkeijima Sea Paradise and a Yokosuka park, while visitors could see New Year's first sunrise from the observation deck of the Yokohama Landmark Tower. Kanagawa provides foreign visitors to Japan with information on year-end and New Year's events to be held at the three tourist spots in the prefecture -- Yokohama Hakkeijima Sea Paradise, Verny Park Ikoi Square, and the Yokohama Landmark Tower. The following are three selected activities such as countdown events and seeing the new year's first sunrise at tourist spots that will be perfectly fit to welcome the start of 2020. Images: https://kyodonewsprwire.jp/release/201912094508?p=images At Yokohama Hakkeijima Sea Paradise, about 3,000 fireworks will be set off in tune with music, colorfully painting the night sky. Furthermore, visitors can enjoy visiting two aquariums and six mechanical rides at the amusement park all through the night. In the morning, visitors can see the beautiful sunrise from the periphery of the breakwater behind the Aqua Museum. At Verny Park Ikoi Square, there will be a "Yokosuka Countdown" event hosted chiefly by a local merchants' association. Food booths mainly for "hot" menus and stage events, among other activities, will enliven the festive atmosphere at the site. Fireworks will be set off immediately when New Year begins, together with whistles ringing and searchlights going on. The event themed on sound and light is quite unique to Yokosuka. The observation floor "Sky Garden" of the Yokohama Landmark Tower, one of the tallest buildings in Japan, is a whopping 273 meters above the ground. The business hours for the observation floor will be extended from New Year's Eve to 1:00 a.m. on New Year's Day. Visitors can greet the new year while seeing beautiful night views toward Tokyo from the Minato Mirai 21 area. If the weather is fine, Mt. Fuji will be visible in the opposite direction from the first sunrise. Visitors will have a good opportunity to ring in the auspicious new year here in Yokohama. Happy Island Countdown 2020 Schedule- Dec. 31 (Tue.), 2019 - Jan. 1 (Wed.), 2020- Business hours: All night: 19:00, Dec. 31, 2019 - 8:00, Jan. 1, 2020* Countdown All Night Pass can be used from 15:00 on Dec. 31, 2019 Venue- Yokohama Hakkeijima Sea Paradise (Hakkeijima, Kanazawa-ku, Yokohama City) Pre-ordered tickets (to be sold until Dec. 31, 2019)- With dolphin show: 3,500 yen- Without dolphin show: 3,000 yen- Selling places: Online and other means Same-day tickets (available from 15:00 on Dec. 31, 2019)- Without dolphin show: 3,500 yen* The same price applies to people aged 4 or above URL: http://www.seaparadise.co.jp/event/countdown/index.html (in Japanese only) Yokosuka Countdown 2020 Schedule- Dec. 31, 2019 - Jan. 1, 2020 Time- 18:00, Dec. 31, 2019 - 1:00, Jan. 1, 2020 Venue- Verny Park Ikoi Square (1-1 Shioiricho, Yokosuka City) Access- A 5-minute walk from Keikyu Shioiri Station, or a 5-minute walk from JR Yokosuka Station URL: https://www.cocoyoko.net/event/countdown.html (mostly in Japanese, with some English) 69th floor observation deck "Sky Garden," Yokohama Landmark Tower Schedule- Dec. 31, 2019 - Jan. 1, 2020 Address- Yokohama Landmark Tower (2-2-1 Minatomirai, Nishi-ku, Yokohama City) Access- A 3-minute walk from "Minatomirai Station" on the Minatomirai Line or a 5-minute walk using the moving walkway from "Sakuragicho Station" on the JR Negishi Line New Year's Eve special business operations - Opening hours10:00, Dec. 31, 2019 - 1:00, Jan. 1, 2020 (last entry at 0:30) - Entrance fees1,000 yen per adult, 800 yen per person aged 65 or above and senior high school student, 500 yen per elementary and junior high school student, 200 yen per child aged 4 or above Business operations for the first sunrise of 2020 - Opening hours6:00 - 8:00 (last entry at 7:30), 10:00 - 18:00 (last entry at 17:30) on Jan. 1, 2020 - Entrance fees1,000 yen per adult, 800 yen per person aged 65 or above and senior high school student, 500 yen per elementary and junior high school student, 200 yen per child aged 4 or above URL: https://www.yokohama-landmark.jp.e.adv.hp.transer.com/ (English)
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Russell Reynolds Associates Hires Katherine Henry
MELBOURNE, Australia, Dec. 11, 2019 /PRNewswire/ -- Russell Reynolds Associates, a leading global leadership advisory and search firm, today announced that Katherine Henry has joined the firm as a senior member of the firm's global Corporate Officers Sector, leading the Human Resources Officers Practice in Australia. She is based in Melbourne and will advised clients on matters pertaining to organizational transformations, talent acquisition and development. Russell Reynolds Associates Hires Katherine Henry "We are thrilled to have such a highly qualified expert to our team and for our clients," said Peter L. O'Brien, leader of Russell Reynolds Associates' Asia Pacific Region. "With almost two decades of experience working with clients to develop and implement organizational transformation program, Katherine will be a great asset to the firm to strategically advise clients on the talent strategy to transform and grow their business in this competitive environment." Henry joined Russell Reynolds Associates from the Australian Energy Market Operator (AEMO), where she was Executive General Manager, People and Transformation. As a member of the Executive Team, she was responsible for delivering the People & Culture strategy and services, as well as the organizational transformation program across the enterprise. Previously, Henry was with ASX-listed Bellamy's Organic and UXC, where she held Chief Human Resources Officer roles. With close to 20 years of HR experience, she began her career with PwC Consulting, in the Human Capital and Strategic Change Practice. Henry holds a BA in social sciences: human resource management, psychology and English literature from Monash University School of Psychology and a graduate diploma in career development from the School of Psychology at Deakin University. She is also accredited in coaching and is a qualified Counselor and Organizational Careers Practitioner. About Russell Reynolds Associates Russell Reynolds Associates is a global leadership advisory and search firm. Our 470+ consultants in 46 offices work with public, private and nonprofit organizations across all industries and regions. We help our clients build teams of transformational leaders who can meet today's challenges and anticipate the digital, economic and political trends that are reshaping the global business environment. From helping boards with their structure, culture and effectiveness to identifying, assessing and defining the best leadership for organizations, our teams bring their decades of expertise to help clients address their most complex leadership issues. We exist to improve the way the world is led. www.russellreynolds.com Contact: Joann Chin Russell Reynolds Associates +65-6496-0614 joann.chin@russellreynolds.com Photo - https://photos.prnasia.com/prnh/20191210/2665847-1?lang=0 Logo - https://photos.prnasia.com/prnh/20170619/1878938-1LOGO?lang=0 Related Links :http://www.russellreynolds.com
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Applications now open in Vietnam for British Council IELTS Prize (East Asia) 2019/20, supporting 30 test takers to study abroad
The British Council IELTS Prize valued at 2.2 billion dong will support aspiring students in East Asia* to pursue their study abroad dreams at an English-speaking higher education institutionHO CHI MINH CITY, Vietnam, Dec. 11, 2019 /PRNewswire/ -- The British Council in Vietnam is pleased to announce that applications for the British Council IELTS Prize (East Asia) 2019/20 are being accepted until 30 April 2020. The IELTS Prize is open to students who plan to begin undergraduate or postgraduate studies locally or overseas in the 2020/21 academic year. Three motivated students from Vietnam will share local prizes, amounting to 450 million dong, and three outstanding winners in the East Asia region* will be awarded regional prizes, totalling up to 1.74 billion dong. the British Council IELTS Prize 2019/20 The British Council IELTS Prize encourages applicants to pursue their dreams in any discipline they desire. Essential eligibility criteria require that applicants a) hold a minimum band score of 6.0 in each of the four components of an IELTS test taken with British Council in the East Asia region* after 1 April 2019, and b) intend to pursue undergraduate or postgraduate studies locally or abroad at degree level in the 2020/21 academic year at a tertiary institution that accepts IELTS as part of its admission requirements. Shortlisting and interviewing will take place in June 2020. The selection panel will award the IELTS Prize to individuals who show a passion to contribute to society with knowledge and skills they will gain from their studies. "The British Council IELTS Prize (East Asia) is bestowed on young scholars from diverse backgrounds who strive to achieve their study dreams. As an organisation that offers life-changing opportunities through delivering millions of exams annually, we are delighted to support these exceptional individuals to pursue higher education abroad, expand their understanding of the world, and return with new knowledge, improved confidence and fresh insights to serve their home country," says Trish Thomson, Regional Marketing Director, East Asia. Since its launch in 2011, over 270 IELTS test takers have been awarded the IELTS Prize, pursuing tertiary education in destinations abroad, including the UK, US, Canada, Australia, France and Singapore in disciplines ranging from Medicine, Engineering, Science, and Business Management to Public Communication, Media, Performance, and many more. Dillon, Chew Wei Xuan, the Regional Grand Prize 2018/19 winner, currently a first year Biotechnology student at the University of Cambridge, notes, "studying abroad has always been a dream of mine. The British Council IELTS Prize has enabled me to fly the nest and experience the intellectually stimulating and engaging education the University of Cambridge has to offer. I am thrilled to have met lots of like-minded people from all over the world, to share our different interests and experiences, and discuss a wide range of exciting topics from Science to Politics, with English as a common language." Nguyen Duc Thinh, the First Prize 2018/19 winner of Vietnam, currently studying Applied Arts in Journalism at the University of Prince Edward Island, shares, "I originally did not intend to apply for any scholarship for my study in Canada as I always thought of myself as an ordinary person with no particular outstanding academic achievement. A scholarship would be something out of my reach. On the day I registered for the IELTS test at British Council Hanoi's office, I was told by the staff person about IELTS Prize, which really intrigued me. That is why coming home I immediately went to the official website of IELTS Prize to read all about it. What I really love about this scholarship is that compared to some foreign government scholarships I have heard of, IELTS Prize does not really have complicated eligibility requirements, which is perfect for me. The selection process is also really straightforward, with clear instruction given through each email." Nguyen Duc Thinh (8.0 IELTS) was the first prize winner of local IELTS Prize 2018/19. Three Vietnamese excellent candidates received local IELTS Prize 2018/19 Applications for the British Council IELTS Prize (East Asia) 2019/20 will close at 18.00 Vietnam time on 30 April 2020. The winners will be announced in July 2020. For more details, please visit www.ieltsasia.org/ieltsprize. Local and Regional Prize Structure Prize Local Prizes Regional Prizes First Prize 180 million dong First-year tuition fee up to 1.2 billion dong Second Prize 150 million dong 300 million dong Third Prize 120 million dong 240 million dong * Participating East Asian countries/territories include Hong Kong/Macau, Indonesia, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam. For more information, please contact: Hanh Le Communications Manager British Council 20 Thuy Khue, Tay Ho, Hanoi, Vietnam T: +84-4-38436780 (ext. 1957) F: +84-4-38434962 E: hanh.le@britishcouncil.org.vn Ngoc Anh Nguyen Exams Marketing Manager British Council 1F Viettel Building 285 Cach Mang Thang Tam, District 10, HCMC, Vietnam T: +84-1800-1299 (ext. 2407) E: ngocanh.nguyen@britishcouncil.org.vn Notes to Editors: About the British Council The British Council is the UK's international organisation for cultural relations and educational opportunities. We work with over 100 countries in the fields of arts and culture, English language, education and civil society. Last year we reached over 80 million people directly and 791 million people overall including online, through broadcasts and publications. We make a positive contribution to the countries we work with – changing lives by creating opportunities, building connections and engendering trust. Founded in 1934 we are a UK charity governed by Royal Charter and a UK public body. We receive 15 per cent core funding grant from the UK government. britishcouncil.org About International English Language Testing System (IELTS) IELTS is the International English Language Testing System, the world's most popular English language proficiency test for higher education and global migration, with over 3.5 million tests taken in the last year. More than 10,000 organizations trust and accept IELTS as a secure, valid and reliable indicator of true-to-life ability to communicate in English for education, immigration and professional accreditation. IELTS is jointly owned by the British Council, IDP: IELTS Australia and Cambridge Assessment English. Test takers are measured in listening, reading, writing and speaking. All tests are scored on a banded system from 1 (the lowest) through to 9 (the highest band). Photo - https://photos.prnasia.com/prnh/20191210/2665937-1-a?lang=0Photo - https://photos.prnasia.com/prnh/20191210/2665937-1-b?lang=0Photo - https://photos.prnasia.com/prnh/20191210/2665937-1-c?lang=0Related Links :http://www.britishcouncil.org
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Eye Level recognizes young talents at its 27th Eye Level Literary Awards
SEOUL, South Korea, Dec. 10, 2019 /PRNewswire/ -- Eye Level, a global leader in the education industry, has successfully held its ceremony for the 2019 Eye Level Literary awards on December 7, 2019, at the Eye Level Hall, Daekyo Korea HQ. 2019 Eye Level Literary Award Over the past two decades, the Eye Level Literary Award (ELLA in short) has recognized creativity and excellence in writing. For this year, more than 15,000 participants across 10 countries including Korea, US, China (Hong Kong), Malaysia, Indonesia, Singapore, India, Philippines, Thailand, and Myanmar joined the event. For the global division, more than 5,100 students between 4-9 years of age registered and joined the contest to produce a drawing about a given topic, as well as a 50-word caption to describe it. This year, the younger group of children was to illustrate their thoughts about "My Hobby" whereas the older group had the topic "If I Could Change One Thing in the World". A total of six winners were selected from the global category – three from each age group – and were invited to Korea to join the global awards ceremony with a parent/guardian. The winners, Shi Zhan Lim (Malaysia), Zhao Zixi (Hong Kong), Karl Theodore (Indonesia), Brielle Michaella T. Mac (Philippines), Gia Giridhar (USA), Mithil Sai S. (India), were rewarded with a complimentary trip to Seoul, including a 3-day trip around the capital of South Korea. After the ceremony, Eye Level will be donating $1 with every registration to the Eye Level Literary Award to the Save the Children Fund, an international organization dedicated to improving the lives of children through better education, health care, and economic opportunities, as well as providing emergency aid in natural disasters, war, and other conflicts. This charitable effort is being coordinated by the World Youth & Culture Foundation and the Daekyo Culture Foundation. About Eye Level As of 2019, more than 2 million children from 20 countries around the world have experienced the Eye Level program. Our teaching philosophy begins with understanding where each child's academic level, personal interest and learning ability is. Thereafter, Eye Level helps students master every learning concept through one-on-one coaching with a small step approach. At Eye Level, we help students be self-directed Problem Solvers, Critical Thinkers, Lifelong Learners; setting them up for success in school and beyond. Photo - https://photos.prnasia.com/prnh/20191210/2665997-1?lang=0
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Sungrow Hits a 100 GW Inverter Shipment Milestone
HEFEI, China, Dec. 10, 2019 /PRNewswire/ -- Sungrow, the global leading inverter solution supplier for renewables, today officially announced that it reached a 100 GW shipment milestone at a press conference, demonstrating Sungrow's commitment in sustainable development and efforts in supporting global decarbonizing economies as the first company ever to hit this particular record. Sungrow Hits a 100 GW Inverter Shipment Milestone The last 1 MW of the 100 GW was shipped to a 200 MW project, which is expected to come online at the end of 2019 in Southeast China with featured 1500 Vdc string inverter SG225HX, according to a Sungrow spokesperson at the press conference. As the first company which hit the record of 100 GW, Sungrow rises far above the industry standard with a cutting-edge product portfolio and professional team covering technical support, sales and service across the globe. Sungrow boasts a large project track record, including a 10 MW PV project in Dunhuang, China has been operating stably and effectively without faults for over 10 years. Driven by the global commitment in environment protection and climate change, Sungrow has been bolstering its international footprint and made great performance in solar markets such as the United States, Latin America, Europe, Vietnam, etc. Sungrow is now the largest supplier of string and central inverters in Americas and holds over 15% of market share in the Australian residential segment as well as over 30% of market share in Southeast Asia. Sungrow is also pioneering the way toward grid parity in China and elsewhere worldwide. "Sungrow currently takes the top spot of inverter bankability and we're delighted to remain strategic and long-term partnership with this bankable company, owing to not only its standout products and services, but also the financial possibility," said a spokesperson of a renowned US-based EPC. "Our success has always been underpinned by a 22-year track record in the industry and growing robust partnerships. We're dedicated to strengthen international cooperation and make innovations in products and solutions so that more communities can be powered by clean energy in the future," said Sungrow Chairman Cao Renxian. About Sungrow Sungrow Power Supply Co., Ltd ("Sungrow") is the world's most bankable inverter brand with over 100 GW to be installed worldwide as of December 2019. Founded in 1997 by University Professor Cao Renxian, Sungrow is a leader in the research and development of solar inverters, with the largest dedicated R&D team in the industry and a broad product portfolio offering PV inverter solutions and energy storage systems for utility-scale, commercial, and residential applications, as well as internationally recognized floating PV plant solutions. With a strong 22-year track record in the PV space, Sungrow products power installations in over 60 countries, maintaining a worldwide market share of over 15%. Learn more about Sungrow by visiting www.sungrowpower.com. Photo - https://photos.prnasia.com/prnh/20191210/2664641-1?lang=0 Related Links :www.sungrowpower.com
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Whales English announces positive net cash flow and over 30 K Premium users
The renewal rate of students remains above 83%, and the proportion of referral students reaches 60% -70%.BEIJING, Dec. 10, 2019 /PRNewswire/ -- In mid-July, the online English teaching organization "Whales English" officially changed its name to "Whales English Elite Education". What progress has been made in Whales English Program "Cultivating Excellence From Scratch" in the past four months? On November 23rd, CEO Tom Wu announced at the 2019 "WE Cup" Finals that the number of Premium users at Whales English has reached 30 to 40 K, and the number of students increased 4-5 times last year. Simultaneously, the renewal rate of students remains above 83%, and the proportion of referral students reaches 60% -70%. The Customer Acquisition Cost of Whales English is about 1700-2000 RMB per customer. 2019 Whales English Speech Competition - WE Cup 2019 Tom Wu also stated that the company has achieved positive net cash flow, a 10% of net cash flow, and monthly revenue exceeding 54 million yuan. In this regard, Tom Wu did admit frankly that the Whales English marketing strategies are not extensive at all, they do not attract new users with discounts but mainly rely on getting new students by actual learning results and word-of-mouth marketing by the parents. Whales English does not spend money arbitrarily and does not seek celebrity endorsements. Instead, it invests in their student experience by introducing effective reading strategies from Original English textbooks and improving the service level. Whales English is proudly representing the small class type of teaching, which means 2 to maximum 4 students per class. It follows "The 3-fixed model", which stands for having a fixed schedule with a fixed teacher and fixed classmates. That reflects in arranging a dedicated native English-speaking teacher assigned to the classes, having committed fellow students, and following a rigid schedule. Tom Wu revealed that: The current full class rate is up to 90% The course completion rate is 97% The renewal rate is maintained at 78% to 85% The referral rate is 60% to 70%. The number of students enrolled has increased fivefold. Whales English maintains a very high student renewal rate and number of referrals, and this lies in the quality of teaching. This is one of the main reasons Whales English participated on the WE Cup "English Talent Show" to highlight this, and this year there are two great world-famous press organizations National Geographic Learning and the Oxford University Press Expert who are part of the judges, in order to bring International top English Academic guidance to the finale. According to reports, the "2019 WE Cup" event is aimed at young children aged 3 to 16 in the country, and more than 30 K students participated in this session. Thirty contestants from all over the country were finalists. The finals were then divided into three groups: Infant group, Children group, and Youth group. Nine players finally won the highest award of the event and won the opportunity to show themselves at the Times Square in New York. Nine contestants will also receive scholarships from the organizers to help them further their studies. So, how is excellence cultivated from scratch? It is reported that the two sets of major courses taught by Whales English insist on the development of "Intensive Reading" as the core logic. Students learn through high intensity reading and thinking, which can effectively improve their understanding and reading speed. The improvement of vocabulary has directly contributed to the balanced development of listening, speaking, reading and writing. Whales English Top students have the ability to think critically and express their ideas vividly. The latest version of Reach 2019, the textbook used by Whales English's "English Language Curriculum", contains a large number of famous Masterpieces and National Geographic's Exclusive non-fiction articles, which integrate broad topics on humanity, society, history, nature, and the universe. Children are encouraged to think continuously during the reading process. Over time, they will gradually form a foundation for critical thinking and create extra tools for themselves on how to express themselves. In another set of Whales English's "Leveled Reading Curriculum", Oxford Reading Tree published by Oxford University Press, was used as the course teaching material. In the Leveled Reading Class of Whales English students will conduct "Intensive Reading" of the Oxford Reading Tree textbooks under the guidance of professional native English-speaking teachers, improve their critical thinking skills and analyze the reading ability of "in-depth articles" during the intensive reading process. Tom Wu said that in standardized tests such as KET and PET, Whales English students also achieved outstanding results beyond their peers. This is also due to the "Intensive Reading" teaching method, which can directly affect the improvement of reading speed, comprehension and speculative ability, and help students to achieve rapid review, accurate understanding and efficient answers in competitions and examinations. According to Jean Wang, Vice President of Teaching & Research at Whales English, in "Precise Reading" teaching, students need to read the learning text three times in-depth, and then follow the native English-speaking teachers to complete intensive reading. To preview the materials, the first reading must be completed, and there must be a thorough understanding of the content. Led by Foreign teachers in the class, learning reading strategies, thinking about the details of the article, and master the ability to read independently. After class, students need to do reading by themselves at least once more. It is also through this kind of learning that after leaving the classroom, students gradually form regular reading and thinking habits, and progressively cultivate the reading strategies and skills possessed by Whales Top students, laying a foundation for lifelong learning. Speaking of the development plan for 2020, Tom Wu said that there are three main areas to focus on. Firstly, specializing in the products and improving user satisfaction; The second is broadening the sources of income and economizing on expenditures. In a relatively small volume, it actively optimizes the teaching workforce, customer acquisition, and management, bringing the economic model to the next level. Third and most importantly, focusing on the growth of employees and the introduction of new talents to enhance employee satisfaction. User and employee satisfaction are both fundamental to achieve more success and respect in the online education segment. Whales English is very ambitious and expects to achieve a cash income of 400 to 500 million RMB by the end of this year. Despite its fast growth, Whales English never stops enhancing its teacher welfare. Whales English considers its hard-working teachers are more than just numbers on a piece of paper. It values its teachers just as much as it values its customers. Unlike other "one fits all" companies, Whales English allows its teacher the freedom to select the best-suited methodology for each class. It trusts their motivation and dedication and expects them to put their creativity to use and turn each class into a unique learning experience for their students. "We inspire real learning!", just as its slogan says, Whales English looks for true teachers to inspire real learning. Its native English-speaking teachers are hand-selected, and it's known to be the toughest online ESL program in China. However, this doesn't keep candidates away from them. Its unique brand culture has isolated itself from other companies that focus on quantity more than quality. Apart from its high-quality curriculum, Whales English's personal working environment is also a big reason that keeps its teachers staying. According to the results of a Whales English Teacher Survey in November, 59% teachers stated that Whales English's One Teacher One Support Staff service system convinced them to work at Whales English and they have benefitted a lot from having a designated support whom you can build a relationship with. View original content to download multimedia:http://www.prnewswire.com/news-releases/whales-english-announces-positive-net-cash-flow-and-over-30-k-premium-users-300972056.html
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Applications now open in Malaysia for British Council IELTS Prize (East Asia) 2019/20
The British Council IELTS Prize valued at RM392,010 will support aspiring students in East Asia to pursue their study abroad dreams at an English-speaking higher education institutionKUALA LUMPUR, Malaysia, Dec. 10, 2019 /PRNewswire/ -- The British Council in Malaysia is pleased to announce that applications for the British Council IELTS Prize (East Asia) 2019/20 are being accepted until 30 April 2020. The IELTS Prize is open to students who plan to begin undergraduate or postgraduate studies locally or overseas in the 2020/21 academic year. Three motivated students from Malaysia will share local prizes, amounting to RM80,550, and three outstanding winners in the East Asia region* will be awarded regional prizes, totalling up to RM311,460. From left to right: IELTS Prize 2018/19 winners Nicholas Tan Hao Yu (local 2nd Prize winner), Nadia Izzati binti Zamri (local 3rd Prize winner), British Council Director Malaysia Sarah Deverall, British Council Cluster Commercial Manager Samantha Smith, Joanne Loo YingJia (local 1st Prize winner), and Praveena Mahadevan (regional 2nd Prize winner). The British Council IELTS Prize encourages applicants to pursue their dreams in any discipline they desire. Essential eligibility criteria require that applicants hold a minimum band score of 6 in each of the four components of an IELTS test taken with the British Council in the East Asia region* after 1 April 2019, and intend to pursue undergraduate or postgraduate studies locally or abroad at degree level in the 2020/21 academic year at a tertiary institution that accepts IELTS as part of its admission requirements. Shortlisting and interviewing will take place in June 2020. The selection panel will award the IELTS Prize to individuals who show a passion to contribute to society with knowledge and skills they will gain from their studies. "The British Council IELTS Prize (East Asia) is bestowed on young scholars from diverse backgrounds who strive to achieve their study dreams. As an organisation that offers life-changing opportunities through delivering millions of exams annually, we are delighted to support these exceptional individuals to pursue higher education abroad, expand their understanding of the world, and return with new knowledge, improved confidence and fresh insights to serve their home country," says Trish Thomson, Regional Marketing Director, East Asia. Since its launch in 2011, over 270 IELTS test takers have been awarded the IELTS Prize, pursuing tertiary education in destinations abroad, including the UK, US, Canada, Australia, France and Singapore in disciplines ranging from Medicine, Engineering, Science, and Business Management to Public Communication, Media, Performance, and many more. Praveena Mahadevan, the Regional Second Prize 2018/19 winner, currently a postgraduate student at the London School of Hygiene and Tropical Medicine, notes, "pursuing a Masters in Public Health is something I have wanted to do ever since I was in medical school, and now with the IELTS Prize, I can make it a reality. It's also humbling to know that the British Council felt my interests and goals were worthy of their support, and this has given me a boost of confidence in myself and my capabilities." Applications for the British Council IELTS Prize (East Asia) 2019/20 will close at 18.00 Malaysia time on 30 April 2020. The winners will be announced in July 2020. For more details, please visit https://www.ieltsasia.org/ieltsprize/. Remarks: Local and Regional Prize Structure Local Prizes First Prize RM32,220 Second Prize RM26,850 Third Prize RM21,480 Regional Prizes Grand Prize First-year tuition fee up to RM214,800 Second Prize RM53,700 Third Prize RM42,960 * Participating East Asian countries/territories include Hong Kong/Macau, Indonesia, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam. Notes to Editors: About the British Council The British Council is the UK's international organisation for cultural relations and educational opportunities. We work with over 100 countries in the fields of arts and culture, English language, education and civil society. Last year we reached over 80 million people directly and 791 million people overall including online, through broadcasts and publications. We make a positive contribution to the countries we work with – changing lives by creating opportunities, building connections and engendering trust. Founded in 1934 we are a UK charity governed by Royal Charter and a UK public body. We receive 15 per cent core funding grant from the UK government. britishcouncil.org The British Council has been working with Malaysia since 1948. About International English Language Testing System (IELTS) IELTS is the International English Language Testing System, the world's most popular English language proficiency test for higher education and global migration, with over 3.5 million tests taken in the last year. More than 10,000 organizations trust and accept IELTS as a secure, valid and reliable indicator of true-to-life ability to communicate in English for education, immigration and professional accreditation. IELTS is jointly owned by the British Council, IDP: IELTS Australia and Cambridge English Language Assessment. Test takers are measured in listening, reading, writing and speaking. All tests are scored on a banded system from 1 (the lowest) through to 9 (the highest band). For more information, contact: Ikram KhasimHead of CommunicationsE: Ikram.Khasim@britishcouncil.org T: +60-3-2723-7969 Tan DencolnBusiness Development ManagerE: dencoln.tan@britishcouncil.org.myT: +60-3-2723-7987 Photo - https://photos.prnasia.com/prnh/20191210/2665912-1?lang=0Related Links :http://www.britishcouncil.org
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Applications now open in Taiwan for British Council IELTS Prize (East Asia) 2019/20, supporting 30 test takers to study abroad
The British Council IELTS Prize valued at NTD 2.92 million will support aspiring students in East Asia[1] to pursue their study abroad dreams at an English-speaking higher education institution TAIPEI, Dec. 10, 2019 /PRNewswire/ -- British Council in Taiwan is pleased to announce that applications for the British Council IELTS Prize (East Asia) 2019/20 are being accepted until 30 April 2020. The IELTS Prize is open to students who plan to begin undergraduate or postgraduate studies locally or overseas in the 2020/21 academic year. Three motivated students from Taiwan will share local prizes, amounting to NTD 600,000, and three outstanding winners in the East Asia region[2] will be awarded regional prizes, totalling up to NTD 2.32 million.[3] The British Council IELTS Prize encourages applicants to pursue their dreams in any discipline they desire. Essential eligibility criteria require that applicants a) hold a minimum band score of 6 in each of the four components of an IELTS test taken with British Council in the East Asia region[4] after 1 April 2019, and b) intend to pursue undergraduate or postgraduate studies locally or abroad at degree level in the 2020/21 academic year at a tertiary institution that accepts IELTS as part of its admission requirements. Shortlisting and interviewing will take place in June 2020. The selection panel will award the IELTS Prize to individuals who show a passion to contribute to society with knowledge and skills they will gain from their studies. "The British Council IELTS Prize (East Asia) is bestowed on young scholars from diverse backgrounds who strive to achieve their study dreams. As an organisation that offers life-changing opportunities through delivering millions of exams annually, we are delighted to support these exceptional individuals to pursue higher education abroad, expand their understanding of the world, and return with new knowledge, improved confidence and fresh insights to serve their home country," says Trish Thomson, Regional Marketing Director, East Asia. Since its launch in 2011, over 270 IELTS test takers have been awarded the IELTS Prize, pursuing tertiary education in destinations abroad, including the UK, US, Canada, Australia, France and Singapore in disciplines ranging from Medicine, Engineering, Science, and Business Management to Public Communication, Media, Performance, and many more. Dillon, Chew Wei Xuan, the Regional Grand Prize 2018/19 winner, currently a first year Biotechnology student at the University of Cambridge, notes, "studying abroad has always been a dream of mine. The British Council IELTS Prize has enabled me to fly the nest and experience the intellectually stimulating and engaging education the University of Cambridge has to offer. I am thrilled to have met lots of like-minded people from all over the world, to share our different interests and experiences, and discuss a wide range of exciting topics from Science to Politics, with English as a common language." Applications for the British Council IELTS Prize (East Asia) 2019/20 will close at 18.00 Taiwan time on 30 April 2020. The winners will be announced in July 2020. For more details, please visit https://www.ieltsasia.org/ieltsprize. Remarks: Local and Regional Prize Structure Local Prizes First Prize NTD 240,000 Second Prize NTD 200,000 Third Prize NTD 160,000 Regional Prizes Grand Prize First-year tuition fee up to NTD 1,600,000 Second Prize NTD 400,000 Third Prize NTD 320,000 [1] Participating East Asian countries/territories include Hong Kong/Macau, Indonesia, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam. [2] Participating East Asian countries/territories include Hong Kong/Macau, Indonesia, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam. [3] Actual amount depends on the relevant university's first-year tuition fee for Regional Grand Prize winner. [4] Participating East Asian countries/territories include Hong Kong/Macau, Indonesia, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam. For more information, contact Exams Marketing Manager, Lisa Lin on +886-2-8722-1037 or lisa.lin@britishcouncil.org.tw. Notes to Editors: About the British Council The British Council is the UK's international organisation for cultural relations and educational opportunities. We work with over 100 countries in the fields of arts and culture, English language, education and civil society. Last year we reached over 80 million people directly and 791 million people overall including online, through broadcasts and publications. We make a positive contribution to the countries we work with -- changing lives by creating opportunities, building connections and engendering trust. Founded in 1934 we are a UK charity governed by Royal Charter and a UK public body. We receive 15 per cent core funding grant from the UK government. britishcouncil.org About International English Language Testing System (IELTS) IELTS is the International English Language Testing System, the world's most popular English language proficiency test for higher education and global migration, with over 3.5 million tests taken in the last year. More than 10,000 organizations trust and accept IELTS as a secure, valid and reliable indicator of true-to-life ability to communicate in English for education, immigration and professional accreditation. IELTS is jointly owned by the British Council, IDP: IELTS Australia and Cambridge English Language Assessment. Test takers are measured in listening, reading, writing and speaking. All tests are scored on a banded system from 1 (the lowest) through to 9 (the highest band).Related Links :www.britishcouncil.org.hk
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Legendary Advocate for Freedom, Democracy and Human Rights Natan Sharansky Awarded 2020 Genesis Prize
Joins Michael Bloomberg and Justice Ruth Bader Ginsburg as Recipient of Prestigious Jewish Award JERUSALEM, Dec. 10, 2019 /PRNewswire/ -- Today The Genesis Prize Foundation (GPF) announced Natan Sharansky, the legendary advocate for freedom, democracy and human rights, as the 2020 Genesis Prize Laureate. In choosing Sharansky from a list of 250 nominees, the Selection Committee noted his extraordinary lifelong struggle for political and religious freedoms, emphasizing the relevance of his work in today's world. 2020 Genesis Prize Laureate Natan Sharansky "Natan Sharansky is one of the great human rights advocates of our lifetime," said Stan Polovets, Co-founder and Chairman of The Genesis Prize Foundation. "At great personal sacrifice, he fought for the rights and dignity of all ethnicities, religions and nationalities. Today, as we witness democratic principles being challenged and human rights, along with freedoms of thought and expression, denied to so many, Natan's example is an inspiration to all those struggling for democracy. While this is particularly true in parts of the world under authoritarian rule, even in democracies our freedoms cannot be taken for granted. Natan's ideals and vision are as relevant today as they were in the 1980's when he took on the totalitarian Soviet regime – and won." Sharansky is the sole living non-US citizen to receive both the Congressional Gold Medal and the Presidential Medal of Freedom. Mother Teresa, Nelson Mandela, and Pope John Paul II were the only other non-Americans to receive both honors. The annual Genesis Prize honors extraordinary individuals for their outstanding professional achievement, contribution to humanity, and commitment to Jewish values. In line with the tradition established by previous recipients of the Prize, Sharansky has chosen to forgo the $1 million award, and GPF will donate the funds in his honor to nonprofit organizations to be selected at a future date. Sharansky becomes the 8th Genesis Prize honoree. Previous Genesis honorees include New York City Mayor and current US presidential candidate Michael Bloomberg (2014), and U.S. Supreme Court Justice Ruth Bader Ginsburg (2018). Michael Bloomberg said: "Congratulations to Natan Sharansky on winning this year's Genesis Prize. After being imprisoned in a Soviet gulag for nearly a decade, he has devoted his life to advancing and protecting human rights around the world. His values and ethics, rooted deeply in his Jewish faith, have served as his moral compass -- and his life has been a beacon to so many who dream of freedom." Tony Blair, former Prime Minister of the United Kingdom, said: "Natan Sharansky is a hero, whose courage united people all over the globe in a quest for freedom. He is a distinguished leader who made a significant contribution to the State of Israel, to the people who lived in oppressed societies of the Soviet bloc nations, and to humanity as a whole. I congratulate Natan on this prestigious global award." Natan Sharansky first gained global renown in the 1970s as a leader of the Soviet dissident movement, where he worked alongside Nobel Prize Laureate Andrei Sakharov, demanding that the USSR live up to its international human rights obligations. Arrested for his challenge to the Soviet regime, he spent nine years incarcerated as a Prisoner of Conscience – much of it in solitary confinement –refusing to disavow his demands for respect of human rights for all oppressed people of the Soviet Union. Unbroken, Sharansky was released in 1986 following an intense international pressure campaign, spearheaded by his wife Avital. His release became the symbolic prelude to the unraveling of the communist regimes throughout the Soviet bloc in the late 1980's. Since moving to Israel, Sharansky continued his activist work and emerged as an influential political thinker. He authored three best-selling books, making the case for freedom, democracy and human rights. During his time in government –including as Deputy Prime Minister – and as the head of the Jewish Agency for Israel, Sharansky fought tirelessly for the rights of new immigrants, religious minorities, and women. At the helm of the Jewish Agency, he focused on repatriation of Jews to Israel, strengthening the links between Israel and global Jewry, and made an effort to develop separate, egalitarian prayer space near the Western Wall. Natan Sharansky said: "I am humbled by this honor and thank the Genesis Prize Foundation for recognizing my work to promote democracy, rule of law, and human rights. As my personal hero President Ronald Reagan said, freedom is never more than one generation away from extinction. It is not passed to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same, or one day we will spend our sunset years telling our children and our children's children what it was once like to live when men were free." Natan Sharansky will be honored at the Genesis Prize Ceremony in Jerusalem on June 18, 2020. BACKGROUND The Genesis Prize is a global award that celebrates Jewish achievement and contribution to humanity. Launched in 2013, the Prize is financed through a permanent endowment of $100 million established by The Genesis Prize Foundation. Genesis Prize laureates are chosen through a comprehensive worldwide nominations process. The Selection Committee, chaired by the head of the Jewish Agency for Israel Isaac Herzog, selects a short list of potential laureates and makes a recommendation to the Prize Committee. The Prize Committee, chaired by Justice Tova Strasberg-Cohen, decides on the final Laureate. Previous Genesis Prize laureates are former New York City Mayor Michael Bloomberg; actor, producer and peace activist Michael Douglas; virtuoso violinist and advocate for individuals with special needs Itzhak Perlman; sculptor and advocate for the rights of refugees Sir Anish Kapoor; Oscar-winning actress and social activist Natalie Portman; and owner of New England Patriots and founder of the leading foundation to combat anti-Semitism Robert Kraft. In 2018, the Genesis Prize Foundation honored U.S. Supreme Court Justice Ruth Bader Ginsburg with its inaugural Lifetime Achievement Award for her contribution to social justice and equal rights. All laureates have selected causes that are important to them, and award funds in their honor have been donated to these causes. These initiatives have included support of social entrepreneurship based on Jewish values, inclusiveness of intermarried families in Jewish life, improving the lives of individuals with special needs, helping to alleviate the global refugee crisis, advancing women's equality, and combatting anti-Semitism and efforts to delegitimize the State of Israel. Photo - https://mma.prnewswire.com/media/1042598/Natan_Sharansky_official_picture.jpg Related Links :http://www.genesisprize.org
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China Online Education Group Announces Third Quarter 2019 Results
Net revenues increased by 35.0% year-over-yearGAAP and Non-GAAP net loss improved by RMB85.1 million and RMB81.4 million year-over-year, respectivelyBEIJING, Dec. 9, 2019 /PRNewswire/ -- China Online Education Group ("51Talk" or the "Company") (NYSE: COE), a leading online education platform in China, with core expertise in English education, today announced its unaudited financial results for the third quarter ended September 30, 2019. Third Quarter 2019 Financial and Operating Highlights Net revenues were RMB409.2 million (US$57.2 million), a 35.0% increase from RMB303.2 million for the third quarter of 2018. Gross billings[1] were RMB547.3 million (US$76.6 million), a 28.9% increase from RMB424.5 million for the third quarter of 2018. Gross margin was 71.7%, compared with 63.8% for the third quarter of 2018. GAAP net loss decreased 94.1% year-over-year to RMB5.3 million and sequentially decreased 83.6% from RMB32.4 million for the second quarter of 2019. Non-GAAP net loss decreased 97.8% year-over-year to RMB1.8 million and sequentially decreased 93.2% from RMB26.7 million for the second quarter of 2019. Operating cash inflow was RMB123.2 million (US$17.2 million), compared with RMB1.7 million cash outflow for the third quarter of 2018. Cash, cash equivalents, time deposits and short-term investments balance reached RMB906.4 million (US$126.8 million) as of September 30, 2019. Key Operating Data For the three months ended Sep. 30, Sep. 30, Y-o-Y 2018 2019 Change Gross billings (in RMB millions) 424.5 547.3 28.9% K-12 mass-market one-on-one offering 331.9 504.6 52.0% K-12 small class offering 16.6 8.7 (47.6%) Adult offering 54.7 29.3 (46.4%) K-12 American Academy one-on-one offering 21.3 4.7 (77.9%) Active students[2] (in thousands) 210.0 258.2 23.0% "The third quarter is a seasonally strong quarter for us, and our results reflected solid execution of our focused strategy. We exceeded the high end of both our net revenues and gross billing guidance ranges by 2.3% and 5.7%, respectively, fueled in large part by a 23.0% year-over-year increase in total active students," said Mr. Jack Jiajia Huang, Founder, Chairman and Chief Executive Officer of 51Talk. "Our primary growth driver remains our K-12 mass-market one-on-one offering in non-tier-one cities[3]. K-12 mass-market one-on-one gross billings grew 52.0% year-over-year to reach RMB504.6 million and represented 92.2% of our total gross billings. The improvement in our fundamentals reflected our consistent strategy of focusing on K-12 mass market in non-tier-one cities. "During the third quarter, we launched our mobile-friendly, interactive curriculum for levels 0 to 2 of our flagship program, Classic English Junior. The enhanced curriculum improves learning effectiveness and leads to better learning outcomes through several new features including interactive games, virtual teaching aids, improved facial emotional recognition and engaging role-play scenarios. I am also very proud to share that two of our students were selected to represent Chinese youth and present speeches in English on the topic of environmental protection at the United Nations Climate Change Conference in Madrid, Spain, on December 5, 2019. Such an honor is indeed a testament to the hard work of these students, the dedication of their teachers and their supportive families. "I am also delighted to share that we successfully delivered over 100 million one-on-one online English lessons, including free trial lessons, from our inception in 2011 through the end of November this year. As 51Talk continues to grow, we are confident our balanced growth strategy and operational focus on non-tier-one cities will continue to yield solid value for our stakeholders," Mr. Huang concluded. "Our momentum from the first half continued into the third quarter as we achieved record high revenues, gross billings, gross margins, as well as the smallest non-GAAP net loss in our history at RMB1.8 million," said Mr. Min Xu, Chief Financial Officer of 51Talk. "We are also proud to report record high operating cash flow of RMB123.2 million for the quarter. Non-GAAP net margin improved to negative 0.4% this quarter from negative 7.6% in the second quarter this year. These results reflect the wide market appeal of our offerings and our on-going effort to improve operation efficiencies. As we wind down the year in the seasonally slower fourth quarter, we remain on track to prudently execute our balanced growth strategy." [1] Gross billings for a specific period, which is one of the Company's key operating data, is defined as the total amount of cash received for the sale of course packages and services in such period, net of the total amount of refunds in such period. [2] An "active student" for a specified period refers to a student who booked at least one paid lesson, excluding those students who only attended paid live broadcasting lessons or trial lessons. [3] Tier-one cities include Beijing, Shanghai, Shenzhen, Guangzhou and Tianjin. Third Quarter 2019 Financial Results Net Revenues Net revenues for the third quarter of 2019 were RMB409.2 million (US$57.2 million), a 35.0% increase from RMB303.2 million for the same quarter last year. The increase was primarily attributed to an increase in the number of active students and, to a lesser extent, an increase in the average revenue per active student. The number of active students in the third quarter of 2019 was 258,000, a 23.0% increase from 210,000 for the same quarter last year. Net revenues from one-on-one offerings for the third quarter of 2019 were RMB383.4 million (US$53.6 million), a 37.6% increase from RMB278.6 million for the same quarter last year. Net revenues from small class offering for the third quarter of 2019 were RMB25.8 million (US$3.6 million), a 4.9% increase from RMB 24.6 million for the same quarter last year. Cost of Revenues Cost of revenues for the third quarter of 2019 was RMB116.0 million (US$16.2 million), a 5.8% increase from RMB109.6 million for the same quarter last year. The increase was primarily driven by an increase in total service fees paid to teachers, mainly due to the delivery of an increased number of paid lessons. Cost of revenues of one-on-one offerings for the third quarter of 2019 was RMB104.6 million (US$14.6 million), a 12.6% increase from RMB92.9 million for the same quarter last year. Cost of revenues of small class offering for the third quarter of 2019 was RMB11.4 million (US$1.6 million), a 32.0% decrease from RMB16.7 million for the same quarter last year. Gross Profit and Gross Margin Gross profit for the third quarter of 2019 was RMB293.2 million (US$41.0 million), a 51.5% increase from RMB193.5 million for the same quarter last year. Gross margin for the third quarter of 2019 was 71.7%, compared with 63.8% for the same quarter last year. One-on-one offerings gross margin for the third quarter of 2019 was 72.7%, compared with 66.6% for the same quarter last year. The increase was mainly attributable to 1) price increases and 2) the inclusion of the Company's audio picture book in course packages, which carries a higher margin and is recognized as revenues at the time of delivery. 51Talk's small class offering gross margin for the third quarter of 2019 was 56.0%, compared with 32.0% for the third quarter of 2018. The increase was mainly due to optimization of product structure of small class offerings by reducing the lower margined products. Operating Expenses Total operating expenses for the third quarter of 2019 were RMB299.4 million (US$41.9 million), a 6.1% increase from RMB282.2 million for the same quarter last year. The increase was mainly the result of an increase in sales and marketing expenses, partially offset by decreases of product development, and general and administrative expenses. Sales and marketing expenses for the third quarter of 2019 were RMB215.4 million (US$30.1 million), a 16.9% increase from RMB184.2 million for the same quarter last year. The increase was mainly due to higher sales personnel costs related to increases in both the number of sales and marketing personnel and average sales commission. Excluding share-based compensation expenses, non-GAAP sales and marketing expenses for the third quarter of 2019 were RMB214.8 million (US$30.1 million), a 17.5% increase from RMB182.7 million for the same quarter last year. Non-GAAP sales and marketing expenses, excluding branding expenses, were 32.6% of the gross billings for the third quarter of 2019, compared with 36.5% for the same quarter last year. Product development expenses for the third quarter of 2019 were RMB38.4 million (US$5.4 million), a 15.8% decrease from RMB45.6 million for the same quarter last year. The decrease was primarily due to a decrease in the number of personnel. Excluding share-based compensation expenses, non-GAAP product development expenses for the third quarter of 2019 were RMB37.3 million (US$5.2 million), a 13.9% decrease from RMB43.4 million for the same quarter last year. General and administrative expenses for the third quarter of 2019 were RMB45.6 million (US$6.4 million), a 12.9% decrease from RMB52.3 million for the same quarter last year. Excluding share-based compensation expenses, non-GAAP general and administrative expenses for the third quarter of 2019 were RMB43.8 million (US$6.1 million), a 10.5% decrease from RMB48.9 million for the same quarter last year. Loss from Operations Loss from operations for the third quarter of 2019 was RMB6.2 million (US$0.9 million), compared with RMB88.6 million for the same quarter last year. Non-GAAP loss from operations for the third quarter of 2019 was RMB2.8 million (US$0.4 million), compared with RMB81.5 million for the same quarter last year. Net Loss Net loss for the third quarter of 2019 was RMB5.3 million (US$0.7 million), compared with RMB90.4 million for the same quarter last year. Non-GAAP net loss for the third quarter of 2019 was RMB1.8 million (US$0.3 million), compared with RMB83.3 million for the same quarter last year. Basic and diluted net loss per American depositary share ("ADS") attributable to ordinary shareholders for the third quarter of 2019 was RMB0.26 (US$0.04), compared with RMB4.50 for the same quarter last year. Each ADS represents 15 Class A ordinary shares. Non-GAAP basic and diluted net loss per ADS attributable to ordinary shareholders for the third quarter of 2019 was RMB0.09 (US$0.01), compared with RMB4.05 for the same quarter last year. Balance Sheet As of September 30, 2019, the Company had total cash, cash equivalents, time deposits and short-term investments of RMB906.4 million (US$126.8 million), compared with RMB712.1million as of December 31, 2018. The Company had deferred revenues (current and non-current) of RMB2,000.8 million (US$279.9 million) as of September 30, 2019, compared with RMB1,676.1 million as of December 31, 2018. Impact of Recently Adopted New Accounting Standard In February 2016, the FASB issued ASU 2016-02 "Leases", which generally requires lessees to recognize operating and financing lease liabilities and corresponding right-of-use assets on the balance sheet and to provide enhanced disclosures surrounding the amount, timing and uncertainty of cash flows arising from leasing arrangements. The Company adopted the new standard on January 1, 2019 on a modified retrospective basis and did not restate comparative periods. The Company recognized approximately RMB55.8 million as total right-of-use assets and RMB54.2 million as total lease liabilities for the operating leases on its consolidated balance sheet as of January 1, 2019. The Company recognized RMB65.8 million and RMB64.3 million as total right-of-use assets and total lease liabilities, respectively, for the operating leases on its consolidated balance sheet as of September 30, 2019. Other than the foregoing, the new lease standard did not have a material impact on the Company's consolidated financial statements. Outlook For the fourth quarter of 2019, the Company currently expects net revenues to be between RMB385 million to RMB390 million, which would represent an increase of approximately 29.2% to 30.8% from RMB298.1 million for the same quarter last year; The above outlook is based on the current market conditions and reflects the Company's current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change. Conference Call The Company's management will host an earnings conference call at 8:00 AM U.S. Eastern Time on December 9, 2019 (9:00 PM Beijing/Hong Kong time on December 9, 2019). Dial-in details for the earnings conference call are as follows: United States (toll free): 1-866-264-5888 International: 1-412-317-5226 Mainland China: 400-120-1203 Hong Kong (toll free): 800-905-945 Hong Kong: 852-3018-4992 Participants should dial-in at least 5 minutes before the scheduled start time and ask to be connected to the call for "China Online Education Group." Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at http://ir.51talk.com. A replay of the conference call will be accessible until September 18, 2019, by dialing the following telephone numbers: United States (toll free): 1-877-344-7529 International: 1-412-317-0088 Replay Access Code: 10137279 About China Online Education Group China Online Education Group (NYSE: COE) is a leading online education platform in China, with core expertise in English education. The Company's mission is to make quality education accessible and affordable. The Company's online and mobile education platforms enable students across China to take live interactive English lessons with overseas foreign teachers, on demand. The Company connects its students with a large pool of highly qualified foreign teachers that it assembled using a shared economy approach, and employs student and teacher feedback and data analytics to deliver a personalized learning experience to its students. Use of Non-GAAP Financial Measures In evaluating its business, 51Talk considers and uses the following measures defined as non-GAAP financial measures by the SEC as supplemental metrics to review and assess its operating performance: non-GAAP sales and marketing expenses, non-GAAP product development expenses, non-GAAP general and administrative expenses, non-GAAP operating expenses, non-GAAP loss from operations, non-GAAP income tax expenses, non-GAAP net loss, non-GAAP net loss attributable to ordinary shareholders, and non-GAAP net loss attributable to ordinary shareholders per share and per ADS. To present each of these non-GAAP measures, the Company excludes share-based compensation expenses. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of non-GAAP measures to the most comparable GAAP measures" set forth at the end of this press release. 51Talk believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance by excluding share-based compensation expenses that may not be indicative of its operating performance from a cash perspective. 51Talk believes that both management and investors benefit from these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management's internal comparisons to 51Talk's historical performance. 51Talk computes its non-GAAP financial measures using the same consistent method from quarter to quarter and from period to period. 51Talk believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision-making. A limitation of using non-GAAP measures is that these non-GAAP measures exclude share-based compensation expenses that have been and will continue to be for the foreseeable future a significant recurring expense in the 51Talk's business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying table at the end of this press release provides more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.1477 to US$1.00, the rate in effect as of September 28, 2019 as certified for customs purposes by the Federal Reserve Bank of New York. Safe Harbor Statement This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "aims", "future", "intends", "plans", "believes", "estimates", "likely to" and similar statements. Among other things, 51Talk's business outlook and quotations from management in this announcement, as well as 51Talk's strategic and operational plans, contain forward-looking statements. 51Talk may also make written or oral forward-looking statements in its periodic reports to the Securities and Exchange Commission ("SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about 51Talk's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: 51Talk's goals and strategies; 51Talk's expectations regarding demand for and market acceptance of its brand and platform; 51Talk's ability to retain and increase its student enrollment; 51Talk's ability to offer new courses; 51Talk's ability to engage, train and retain new teachers; 51Talk's future business development, results of operations and financial condition; 51Talk's ability to maintain and improve infrastructure necessary to operate its education platform; competition in the online education industry in China; the expected growth of, and trends in, the markets for 51Talk's course offerings in China; relevant government policies and regulations relating to 51Talk's corporate structure, business and industry; general economic and business condition in China, the Philippines and elsewhere and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in 51Talk's filings with the SEC. All information provided in this press release is as of the date of this press release, and 51Talk does not undertake any obligation to update any forward-looking statement, except as required under applicable law. CHINA ONLINE EDUCATION GROUP UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) As of Dec. 31, Sep. 30, Sep. 30, 2018 2019 2019 RMB RMB US$ ASSETS Current assets Cash and cash equivalents 413,143 227,684 31,854 Time deposits 162,688 214,182 29,965 Short term investment 136,304 464,547 64,993 Inventory - 776 109 Prepaid expenses and other current assets 242,499 257,324 36,001 Total current assets 954,634 1,164,513 162,922 Non-current assets Property, plant and equipment, net 35,341 24,481 3,425 Intangible assets, net 11,790 9,064 1,268 Goodwill 4,223 4,223 591 Right of use assets - 65,782 9,203 Other non-current assets 4,230 6,846 958 Total non-current assets 55,584 110,396 15,445 Total assets 1,010,218 1,274,909 178,367 LIABILITIES Current liabilities Short-term loan - 30,362 4,248 Deferred revenues 1,658,800 1,994,883 279,094 Accrued expenses and other current liabilities 209,910 196,611 27,507 Lease liability - 34,642 4,847 Taxes payable 16,917 22,023 3,081 Total current liabilities 1,885,627 2,278,521 318,777 Non-current liabilities Long-term loan 69,045 - - Deferred revenues 17,321 5,904 826 Deferred tax liabilities 21 - - Lease liability - 29,669 4,151 Other non-current liabilities 853 1,049 147 Total non-current liabilities 87,240 36,622 5,124 Total liabilities 1,972,867 2,315,143 323,901 Total shareholders' (deficit) (962,649) (1,040,234) (145,534) Total liabilities and shareholders' deficit 1,010,218 1,274,909 178,367 CHINA ONLINE EDUCATION GROUP UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (In thousands except for number of shares and per share data) For the three months ended For the nine months ended Sep. 30, Jun. 30, Sep. 30, Sep. 30, Sep. 30,
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Twenty Outstanding Philippines' Entrepreneurs and Organisations Honored at the Asia Pacific Entrepreneurship Awards 2019
MANILLA, Philippines, Dec. 9, 2019 /PRNewswire/ -- Twenty outstanding Philippines' entrepreneurs and organisations were honored at the recently concluded Asia Pacific Entrepreneurship Awards 2019 or APEA, led by Megawide Construction Corporation's Chairman and CEO, Mr. Edgar Saavedra, and Robinsons Land Corporation's President and CEO, Mr. Frederick D. Go. Group photo of 20 outstanding winners at the Asia Pacific Entrepreneurship Awards Philippines 2019 This is the award's 13th year, and the Philippines is the ninth market to organise the awards this year, out of the awards' 14 markets. An initiative by Enterprise Asia, the region leading NGO, APEA is the largest regional recognition programme, with over 3,000 nominations received each year, and less than one tenth of that receiving the awards in all 14 markets. With the theme of 'Promoting Inclusive Economic Development Through Sustainable Entrepreneurship', over 300 attendees were present at the by-invitation only awards ceremony in the Philippines, comprising of industry leaders and dignitaries including Tan Sri Dr. Fong Chan Onn, chairman of Enterprise Asia; H.E. Mr Gerard Ho, Ambassador of Embassy of the Republic of Singapore, Philippines; H.E. Mr. Vasin Ruangprateepsaeng, Ambassador of Royal Thai Embassy Manila; Mr Dave M. Almarinez, President & CEO of Philippine International Trade Corporation (PITC); Ms. Maria Kristine Josefina G. Balmes, Deputy Executive Director of Philippine Commission on Women (PCW); and Dato' William Ng, president of Enterprise Asia. In the Philippines, APEA is supported by the Philippine International Trade Corporation (PITC); Philippine Commission on Women (PCW); British Chamber of Commerce Philippines (BCCP) and Philippine Retailers Association (PRA); Plaza Premium First as the Airport Lounge Partner; and BusinessWorld, Esquire Philippines, and SME Magazine as Official Media Partners. Over the past thirteen years, over 2,000 of the most senior entrepreneurs in Asia has received the APEA, including Philippines' Henry Sy and Tony Tan, Malaysia's Tan Sri Yeoh Tiong Lay, Tan Sri Azman Hashim and Tan Sri Teh Hong Piow, Indonesia's Chairul Tanjung, Mochtar Riady and Ciputra, Thailand's Kobchai Chirathivat and Rit Thirakomen, Philippines' Henry Sy and Tony Tan, Singapore's Kwek Leng Beng and Sam Goi, and India's Adi Godrej and Rahul Bajaj. Tan Sri Dr. Fong said, "We are gratified by the continued interest in the programme. We believe this is a reflection of the ongoing success of entrepreneurs and enterprises, as well as our steadfast commitment to upholding the highest standards of our global criteria." Besides Megawide Construction Corporation's Chairman and CEO, Mr. Edgar Saavedra, and Robinsons Land Corporation's President and CEO, Mr. Frederick D. Go, who both were accorded the Entrepreneur of the Year, other notable winners of the APEA Philippines chapter include Philusa Corporation, Reyes Tacandong & Co, Far Eastern University and Travellers International Hotel Group, Inc. who accolade under the Corporate Excellence category. Dr. Fong added, "We are proud to be the oldest business awards program in Asia and have been privileged to shine the spotlight on some of Philippines exception game changers of tomorrow, whose entrepreneurial spirit in growing successful businesses have made a positive and enduring impact on their community and country. Beyond recognising the efforts of these extraordinary entrepreneurs and management teams behind responsible and dynamic businesses, we hope to encourage them to continue taking their businesses to the next level, and in the process, encourage even greater entrepreneurial activity." RECIPIENT LIST OF ASIA PACIFIC ENTREPRENEURSHIP AWARDS 2019 PHILIPPINES Entrepreneur of the Year Edgar Saavedra Chairman & CEO Megawide Construction Corporation Construction Industry Frederick D. Go President & CEO Robinsons Land Corporation Property Development Industry Outstanding Category Michael H. Deakin Founder & President Lifeline 16911 Medical Inc. Healthcare, Pharmaceutical & Biotechnology Industry William T. Ti, Jr. Principal Architect WTA Architecture & Design Studio Professional & Business Services Industry Corporate Excellence Category 24/7 Customer Philippines, Inc. Telecommunications & ICT Industry ACM Landholdings, Inc Property Development Industry Asian Institute of Management Education & Training Industry Bloomberry Resorts Corporation Hospitality, Food Service & Tourism Industry C & E Publishing, Inc. Education & Training Industry Far Eastern University Education & Training Industry First Vita Plus Marketing Corp. Direct Selling Industry Global Business Power Corporation Mining & Energy Industry Mabuhay Filcement Inc. Manufacturing Industry MediLink Network, Inc. Healthcare, Pharmaceutical & Biotechnology Industry Philusa Corporation Healthcare, Pharmaceutical & Biotechnology Industry RDAK Transport & Equipment, Inc. Transportation & Logistics Industry Reyes Tacandong & Co. Professional & Business Services Industry Robinsons Land Corporation Property Development Industry Travellers International Hotel Group, Inc. Hospitality, Food Service & Tourism Industry Sunnies Studios Retail Industry About Enterprise Asia Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine towards sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs and other organizations to promote competitiveness and entrepreneurial development, in uplifting the economic status of people across Asia and in ensuring a legacy of hope, innovation and courage for the future generation. For further information, visit www.enterpriseasia.org. About Asia Pacific Entrepreneurship Awards Launched in 2007, the Asia Pacific Entrepreneurship Awards is the region's most prestigious awards for outstanding entrepreneurship, continuous innovation and sustainable leadership. The Award provides a platform for companies and governments to recognize entrepreneurial excellence, hence spurring greater innovation, fair business practices and growth in entrepreneurship. As a regional award, it groups together leading entrepreneurs as a powerful voice for entrepreneurship and serves as a by-invitation only networking powerhouse. The program has grown to encompass 14 countries and markets all over Asia. For further information, visit www.apea.asia Photo - https://photos.prnasia.com/prnh/20191209/2664549-1?lang=0Related Links :http://www.enterpriseasia.org
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Peking University HSBC Business School Professor and Co-Authors Publish Paper on Cross-Border Acquisitions
PHBS Answers the Question: How Do Acquirers' Home Country Institutions Influence the Performance of Cross-Border Acquisitions?SHENZHEN, China, Dec. 6, 2019 /PRNewswire/ -- Cross-border acquisitions (CBAs) have increasingly become one of the most important international strategies for firms to enhance their performance by quickly acquiring strategic resources globally, for instance, advanced technology and huge overseas markets. However, research shows that the failure rate of cross-border mergers and acquisitions is high, and about 70% of companies have not been able to achieve 1+1>2 synergy value from CBAs. How do acquirers' home country institutions influence the post-acquisition performance of CBAs? Peking University HSBC Business School (PHBS) Associate Professor Zhu Hong and co-authors addressed this question in their paper "Home Country Institutions behind Cross-Border Acquisition Performance" recently published in the Journal of Management. The researchers developed an institutional framework consisting of the informal institutions' collectivism and humane orientation, as well as the formal institutions' shareholder orientation and property rights protection. Zhu and her co-authors retrieved CBM deals across 50 countries from the SDC Platinum database –the world's most comprehensive database of mergers and acquisitions – annual financial data for acquirers and targets from Datastream, home and host countries' collectivism and humane orientation from the GLOBE study, and other information from various sources. Further, they advanced multilevel modeling to analyze 12,021 CBAs, and findings showed that informal and formal institutions not only have important individual effects but also jointly affect their firms' post-acquisition performance. Results show that collectivism and humane orientation in home countries can exert positive influences on post-acquisition performance. Shaped by home country collectivism and with a high level of humane orientation, acquirers which have managers who view their acquired targets as highly interdependent within their organizations are more likely to involve acquired targets in decision making in the post-acquisition integration process. Accordingly, acquired targets are more willing to collaborate with the acquirers in achieving post-acquisition value creation. In addition, their study highlights the joint influence of informal and formal institutions: informal institution influence can be weakened by incompatible formal institutions that hamper post-acquisition collaborative efforts. In addition to significant theoretical contributions to the research of institutions and CBAs, this study offers important practical and public policy implications by clearly demonstrating the importance of institutions in firm strategies and development. The study further reinforces the importance of institutions in the development of firms and economies in China and throughout the world. The remarkable and successful institutional reforms in China, such as the on-going development of the Greater Bay Area and the Belt and Road Initiative, have been buttressing the rapid and impressive economic rise of China. View original content:http://www.prnewswire.com/news-releases/peking-university-hsbc-business-school-professor-and-co-authors-publish-paper-on-cross-border-acquisitions-300970559.html
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5 YEARS CONSECUTIVELY - Kantar Worldpanel is awarded as one of the 'Best Workplaces(TM) in Greater China 2019' by Great Place to Work(R)
TAIPEI, Dec. 6, 2019 /PRNewswire/ -- Kantar Worldpanel has been awarded, for the 5th consecutive year, one of the 'Best Workplaces™ in Greater China 2019' by Great Place to Work®. 5 YEARS CONSECUTIVELY - Kantar Worldpanel is awarded as one of the 'Best Workplaces(TM) in Greater China 2019' by Great Place to Work(R) 5 YEARS CONSECUTIVELY - Kantar Worldpanel is awarded as one of the 'Best Workplaces(TM) in Greater China 2019' by Great Place to Work(R) 5 YEARS CONSECUTIVELY - Kantar Worldpanel is awarded as one of the 'Best Workplaces(TM) in Greater China 2019' by Great Place to Work(R) Great Place to Work It's no easy feat to cultivate a high-trust, high-performance organisation. According to Great Place to Work®, it takes the commitment of dedicated and motivated employees and leaders to achieve such a lofty goal. This year 44 companies made it to the list. We applied the survey to more than 150 companies with more than 200,000 employees in Mainland China, Hong Kong and Taiwan. This survey assesses employees' perceptions of leadership, organizational culture and trust, and is decisive for being selected for the "Best Workplaces™ in Greater China". The core result findings of 2019 In the Trust Index© Survey to employees, we considered and collected all valid responses and this generated an average score of 87% for Greater China. We applaud the continuous efforts to build up a great culture for the associates. Great Place to Work's Best Companies to Work For® in Greater China List create cultures that are friendly, inclusive, productive and ethical. An overwhelming majority of employees at the Region's Best say they're proud of their workplaces. Kantar Worldpanel has numerous branches around the globe participating the Great Place to Work and winning the same award every year. We believe that Greater China team winning this award will make the whole brand share the same pride and glory. According to the Managing Director of Kantar Worldpanel Greater China, Jason Yu, 2019 has been a year of "Transform To Win" for the whole company. New ideas of digital transformation, new online learning platform and new leadership frameworks to help leaders transform are being bounced and launched in the region. Office renovation in Beijing, new form of employee activities across offices, and donating to the Special Olympics by various campaigns are undergoing with enthusiastic participation. The WITH PEOPLE strategy coupled with LEADERSHIP 2021 are being rooted more and more profoundly in our culture and leadership behaviour. Outstanding female high potential talents are put through various global and regional leadership programs to boost a diverse and flourishing career path for our talents. Kantar Worldpanel is extremely proud and for all the constant effort made around people development, humbly deserved to be one of the Best Workplace in Greater China once again and will continue on this worthy journey holding all our employees together. About the Best Workplaces™ in Greater China List Since 2012, Great Place to Work® has identified the top organisations that create great workplaces in Greater China in which they operate through the publication of the Best Workplaces™ in Greater China List. The objective of publishing the list is to acknowledge organisations and Great Workplaces from diverse industries and sizes that deliver and establish great culture among the colleagues and associates, so as to sustain and enhance the competitive edge of the region. To be considered eligible for the Best Workplaces™ in Greater China List, companies must score at least 70% in the overall result of the Trust Index© employee survey and Culture Audit© assessment. About Great Place to Work® Great Place to Work®, headquartered in San Francisco, is the global authority on high-trust, high-performance workplace cultures that provides executive advisory and culture consulting services to businesses, non-profits, and government agencies in 60 countries across five continents. Through proprietary assessment tools, benchmarks, advisory services, workplace reviews and certification programs (such as the Fortune's 100 Best Companies to Work For published on Fortune Magazine), Great Place to Work® helps its clients create great workplaces that outpace peers on key business metrics like revenue growth, profitability, retention and stock performance. Follow Great Place to Work® Greater China at www.greatplacetowork.cn / http://www.greatplacetowork.com.hk and join the community on LinkedIn, Twitter, Facebook, and on WeChat ID: greatplacetowork. About Kantar Worldpanel – Inspiring successful decisions Kantar Worldpanel is the global expert in shoppers' behaviour. Through continuous monitoring, advanced analytics and tailored solutions, Kantar Worldpanel inspires successful decisions by brand owners, retailers, market analysts and government organisations globally. With over 60 years' experience, a team of 3,500, and services covering 60 countries directly or through partners, Kantar Worldpanel turns purchase behaviour into competitive advantage in markets as diverse as FMCG, impulse products, fashion, baby, telecommunications and entertainment, among many others. For further information, please visit us at www.kantarworldpanel.com. Twitter: Google+: LinkedIn: RSS: Newsletter: Photo - https://photos.prnasia.com/prnh/20191128/2656598-1-a?lang=0Photo - https://photos.prnasia.com/prnh/20191205/2656598-1-b?lang=0Photo - https://photos.prnasia.com/prnh/20191205/2656598-1-c?lang=0Photo - https://photos.prnasia.com/prnh/20191206/2656598-1-d?lang=0 Logo - https://photos.prnasia.com/prnh/20191202/2656598-1LOGO?lang=0Related Links :https://www.kantar.com/
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Tarena Engages Marcum Bernstein & Pinchuk LLP as its Independent Auditor
BEIJING, Dec. 6, 2019 /PRNewswire/ -- Tarena International, Inc. (Nasdaq: TEDU) ("Tarena" or the "Company") announced today that it has engaged Marcum Bernstein Pinchuk LLP ("MBP") as its independent registered public accountant with respect to the fiscal years from 2016 to 2018. The engagement of MBP as the independent registered public accountant was approved by the Audit Committee and the Board of Directors of the Company on December 5, 2019. The Company's Audit Committee has dismissed KPMG Huazhen LLP ("KPMG") as the Company's independent registered public accountant. During the Company's two most recent fiscal years and through the subsequent interim period on or prior to December 5, 2019, neither the Company nor anyone on its behalf has consulted with MBP on either (a) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company's financial statements, and neither a written report nor oral advice was provided to the Company by MBP that MBP concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue, or (b) any matter that was the subject of a disagreement, as that term is defined in Item 16F(a)(1)(iv) of Form 20-F (and the related instructions thereto) or a reportable event as set forth in Item 16F(a)(1)(v)(A) through (D) of Form 20-F. About Tarena International, Inc. Tarena International, Inc. (NASDAQ: TEDU) is a leading provider of professional education services in China. Through its innovative education platform combining live distance instruction, classroom-based tutoring and online learning modules, Tarena offers professional education courses in IT and non-IT subjects. Tarena also offers K-12 education programs. Its professional education courses provide students with practical skills to prepare them for jobs in industries with significant growth potential and strong hiring demand. View original content:http://www.prnewswire.com/news-releases/tarena-engages-marcum-bernstein--pinchuk-llp-as-its-independent-auditor-300970065.html
