citibank
June 3, 2010 by Trend PK
Filed under World News
Globecomm Increases Credit Facility with Citibank
HAUPPAUGE, N.Y., Jun 03, 2010 (BUSINESS WIRE) — Globecomm Systems Inc. /quotes/comstock/15*!gcom/quotes/nls/gcom (GCOM 8.13, -0.14, -1.69%) , a leading global provider of satellite-based communications infrastructure solutions and services, announced today that Citibank, N.A. increased the Company’s committed credit facility from $50 million to $65 million and renewed the facility for one year. The credit facility accommodates documentary and standby letters of credit, term loans, foreign exchange transactions, and also includes a revolving credit facility. The increase in the term loan portion of the facility from $25 million to $40 million, in particular, will accommodate the Company’s continued growth. The credit facility will be used to issue bid bonds and performance bonds relating to projects and contracts worldwide, term loans for potential acquisitions, and also supports the Company’s working capital needs. As of the date of Amendment, there was $12.1 million outstanding and unpaid under the term loan line. The Credit Facility will be available until May 26, 2011.
Andy Melfi, Senior Vice President and Chief Financial Officer of Globecomm Systems Inc., said: “As the Company grows and pursues acquisitions Citibank continues to provide a stable source of liquidity, as well as significant expertise and resources in global financial markets.”
About Globecomm Systems
Globecomm Systems Inc. provides end-to-end value-added satellite-based communication products, services and solutions by leveraging its core satellite ground segment systems and network capabilities, with its satellite communication services capabilities. The products and services Globecomm offers include pre-engineered systems, systems design and integration services, managed network services and life cycle support services. Globecomm’s customers include communications service providers, commercial enterprises, broadcast and other media and content providers and government and government-related entities.
source:marketwatch
SBP keeps interest rates unchanged at 12.5pc
KARACHI: The State Bank of Pakistan (SBP) announced today its sixth monetary policy for the next two months, Geo News reported Monday.
It should be mentioned that that the central bank was widely expected to keep the interest rates unchanged at 12.5 percent this year because of resurgent inflation. The decision has been caused by the unexpected rise in the consumer prices by over 13 per cent year-on-year in April, 2010.
The central bank has reviewed monetary policy every two months since September last year.
The bank said the power crisis would affect the commercial and financial activities in the country.
Direct foreign investment in the country is subject to quite precarious condition. The inflation rate made surge to 13.3 percent in April.
The government would not be able to cope with the fiscal deficit by 5.1 percent, according to the new monetary policy.
jets
April 12, 2010 by Trend PK
Filed under World News
NFL suspends new Jets WR Santonio Holmes four games for violating league’s substance abuse policy
The Jets won’t be able to unveil their new wide receiver – Santonio Holmes – until Week 5.
The NFL hit the the talented, but troubled former Steeler Monday with a four-game suspension for violating the NFL’s substance-abuse policy.
Holmes will be able to attend off-season workouts and preseason practices and games under the suspension. But it still begs the question: Did the Jets know about it before pulling the trigger on the trade?
The answer is yes, sources told the Daily News. Coach Rex Ryan and GM Mike Tannenbaum spoke to Holmes and his representation by phone before the deal went down late last night. Sources said Holmes is on his way to Florham Park and will meet today with the Jets’ brass.
The team has yet to formally announce the trade, but once Holmes meets with the team and passes a physical, it will become official.
The Jets traded a fifth-round pick for Holmes, a former Super Bowl MVP and first-round pick. No one questions his talent, but he’s had a string of off-the-field issues. In 2008, he was arrested for possession of marijuana and was suspended a game by the Steelers. Just recently, he was involved in an Orlando nightclub incident.
With Holmes, Jerricho Cotchery and Braylon Edwards, the Jets have a talented receiving trio for quarterback Mark Sanchez. But Edwards, too, could be suspended.
Before being traded to the Jets last October, he was accused of assaulting a Lebron James acquaintance at a Cleveland nightclub. Edwards eventually pleaded “no contest” and he faces a league suspension, although it probably would be only one game.
The Jets were willing to take a chance on Holmes because he’s entering the final year of his contract and they figure that will motivate him to be on his best behavior. It was the same situation with Edwards, who, from all indications, behaved himself last season.
Troubled cornerback Antonio Cromartie, acquired recently in a trade with the Chargers, also is entering the final year of his deal.
nuclear summit
April 12, 2010 by Trend PK
Filed under World News
The Ukraine, a part of the former Soviet Union, will get rid of its highly enriched uranium over the next two years, White House spokesman Robert Gibbs announced today at the Nuclear Security Summit.
“This is something the United States has tried to make happen for several years,” Gibbs said after a meeting between President Obama and Ukrainian counterpart Viktor Yanukovich.
Highly enriched uranium is a key component of a nuclear weapon, and the summit is designed to choke off ways for terrorists to acquire such material.
“The threat of nuclear terrorism is real, it is serious, and it is growing,” said John Brennan, Obama’s top counter-terrorism adviser.
Ukraine will remove its enriched uranium by the time of the next nuclear summit, which Gibbs said will be set in 2012.
Legion Of Extraordinary Dancers
December 3, 2009 by Trend PK
Filed under World News
TrendPK.com Legion Of Extraordinary Dancers:Paramount Digital Entertainment and Agility Studios announced today that that they have struck a deal to launch the “The Legion of Extraordinary Dancers (LXD),” a multi-platform property from writer/director Jon M.
TrendPK.com Legion Of Extraordinary Dancers:Paramount Digital Entertainment and Agility Studios announced today that that they have struck a deal to launch the “The Legion of Extraordinary Dancers (LXD),” a multi-platform property from writer/director Jon M. Chu (STEP UP 2: THE STREETS) and Agility Studios. Beginning early 2010, The LXD will debut [...]
