NAVTEQ, the leading global provider of maps, traffic and location data enabling navigation, location-based services and mobile advertising around the world, announced the launch of NAVTEQ Traffic™ in Russia, delivering comprehensive, real-time traffic information to nearly 16.5 million people in three major cities - Moscow, St. Petersburg and Yekaterinburg.
According to recent Frost & Sullivan research*, 93% of Russian consumers are interested in having access to real-time traffic information. Proprietary NAVTEQ research** also shows with regular use, drivers with traffic-enabled navigation in this region could spend 18 percent less time driving on average than those without navigation--enabling Russian drivers to potentially spend four days less on the road each year.
NAVTEQ Traffic is a quality-tested, comprehensive solution that links up-to-the minute traffic information to map data and enables wireless transmission directly to in-vehicle navigation systems, personal navigation devices and cell phones. NAVTEQ Traffic delivers detailed information about traffic speeds, allowing drivers to make better routing and re-routing decisions.
The world’s largest and most diverse traffic network, the NAVTEQ Traffic mission is to provide peerless traffic information so consumers know where and when to drive to save time, fuel and
*Russian Consumers’ Desirability and Willingness to Pay for Connected Navigation, Location-Based Services and Features (2009)
**NAVTEQ Navigation Benefits Study (2009), applied to Russian market frustration. NAVTEQ aggregates and analyzes traffic data from a vast wealth of sources, including one of the world’s largest compilations of both commercial and consumer probe data, the world’s largest fixed proprietary sensor network, event-based data collected from government sources, and billions of historical traffic records. NAVTEQ Traffic provides traffic coverage in 23 countries worldwide— covering more countries around the world than any other traffic supplier.
“Moscow and other Russian cities are among the most-traffic congested cities in the world,” said Howard Hayes, senior vice president for NAVTEQ Traffic. “The launch of NAVTEQ Traffic in this region represents our continued dedication to deliver comprehensive real-time traffic information that saves travelers around the globe time and money.”
NAVTEQ’s Russian coverage includes close to 19,000 kilometers of roadways across the three cities, encompassing nearly 16.5 million people.
About NAVTEQ
NAVTEQ is the leading global provider of location content in the form of maps, traffic and places data that enables navigation, location-based services and mobile advertising around the world. NAVTEQ supplies precise, comprehensive location content to power automotive navigation systems, portable and wireless devices, Internet-based mapping applications and government and business solutions. The Chicago-based company was founded in 1985 and has approximately 5,600 employees located in 213 offices in 50 countries.
For more information on NAVTEQ, please visit corporate.navteq.com. This NAVTEQ press release and other news is available at press.navteq.com. Join NAVTEQ on Facebook at facebook.com/NAVTEQCompany and Twitter at @NAVTEQ.
NAVTEQ and NAVTEQ Traffic are trademarks in the U.S. and other countries. All rights reserved.
These countries include: Austria, Belgium, Brazil, Canada, Denmark, Finland, France, Germany, Indonesia, Italy, Luxembourg, Mexico, The Netherlands, Norway, Poland, Russia, South Africa, Spain, Sweden, Switzerland, United Arab Emirates, the United Kingdom, United States.
Warner Music nears sale ahead of Thurs board meeting – sources
http://in.reuters.com/article/2011/05/05/idINIndia-56784520110505
6:54am IST
NEW YORK (Reuters) - Warner Music Group could reach a deal to sell itself as soon as close of business on Thursday when the board will meet to make a final decision, according to a two people familiar with plans.
The world's third largest music company is expected to be sold for over $3 billion with leading bidders including Russian-American industrialist Len Blavatnik's Access Industries and Tom and Alec Gores' Platinum Equity/The Gores Group.
The Financial Times and Wall Street Journal reported late on Wednesday that Blavatnik is a leading bidder with an offer of over $8 a share, valuing the company well north of $3 billion. Shares of Warner Music rose some 11 percent to $8.25 in after-market trading.
Reuters sources cautioned that no deal had been struck with any party at present and an agreement will not be reached until the board meets.
Blavatnik is a long time associate of Warner Music Chief Executive Edgar Bronfman and his father. He was a director of Warner Music from 2004, when Bronfman led a buyout of the company from Time Warner Inc, up until 2008. He still owns around 2 percent of Warner Music.
If Blavatnik were to win control of the company he would be more likely to continue to work with Bronfman and his management team, said one of the sources. This would include looking at a possible bid to buy EMI Group from Citigroup.
AFI Development sees $88m annual revenue from Moscow mall
http://www.globes.co.il/serveen/globes/docview.asp?did=1000643327&fid=1725
The Africa-Israel unit has set May 22 for the AFIMall's grand opening.
5 May 11 10:23, Hillel Koren
Africa-Israel Investments Ltd. (TASE:AFIL) Russian real estate arm AFI Development plc (LSE:AFID) has set the grand opening of the AFIMall in Moscow for May 22. The soft opening was held on March 10. The company estimates that the mall will generate $60 million in rental revenue in 2011and $88 million in annual rental revenue..
The 180,000-square meter AFIMall has 400 stores and will be the largest mall in the Russian capital.
AFI Development said that, as of April 27, 151 stores covering 42% of the mall's space were already open.
AFI Development believes that 200 stores representing 61% of the mall's area, will be leased by the grand opening. The company has signed leases for 78% of the mall's area.
AFI Development owns 75% of the AFIMall, and has reached a non-binding understanding with the Moscow City administration to buy its 25% stake in the mall.
IBI Investment House analyst Shay Lipman told "Globes", "Without a doubt, this will have a positive effect on Africa-Israel's share. I assume that the AFIMall's occupancy rate will only increase. It should be realized that for any mall, as a new real estate development, needs a running-in period, which Africa-Israel is currently undergoing."
Lipman added, "The main point is that in 2012, the mall will become an income-producing property, at which point it will generate substantial revenue for AFI Development, and indirectly for Africa-Israel, which is increasing its stake in AFI Development. I would not be surprised if the mall's value is upwardly revised by the second quarter of 2012, which will greatly boost Africa-Israel's capital."
AFI Development's share price opened at $1.10 on the London Stock Exchange today, giving a market cap of ₤712 million. Africa-Israel's share price rose 2.4% in early trading to NIS 28.35, giving a market cap of NIS 2.92 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on May 5, 2011
For the Record
http://www.themoscowtimes.com/business/article/for-the-record/436309.html
05 May 2011
Russia imported 275,900 new cars in January-April this year, doubling imports versus the same period last year, according to the Economic Development Ministry.
(Interfax)
Titanium monopoly VSMPO-Avisma posted 1.18 billion rubles ($42 million) in net profit for the first quarter of 2011, the company said Wednesday.
(Interfax)
Truck-builder KamAZ's consolidated net losses for 2010 came to 2.2 billion rubles ($78 million), which was a decrease of 67 percent from 6.93 billion rubles in losses posted for 2009, as sales revenue went up 20 percent to 77.6 billion rubles last year.
(Interfax)
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