Proteonomix, Inc. (OTC.BB:PROT), a biotechnology company focused on developing therapeutics based upon human cells and their derivatives, announced further developments with its Joint Venture Company, XGEN Medical LLC (�XGen�) towards implementing operations in the United Arab Emirates (U.A.E.).
PROT is the majority shareholder in XGen with the balance held by an anonymous investor group. Proteonomix personnel were on the ground in the U.A.E. over the past weeks to work together with the Investor Group through the start up phase. To date, XGen has established an office in the Monarch Office Tower on the prestigious Sheikh Zayed Road, and a residence for visiting Proteonomix personnel on Jumeira 2.
During initial meetings, it was mutually decided to open a local subsidiary corporation in the Dubai free zone. This wholly owned subsidiary will be the vehicle to conduct business in the GCC countries. XGen has filed the corporate papers and has established banking relations with a local bank both for receipt of the initial investment of $5 million and towards further financing expanded services in the region. The Ramadan holiday has slowed progress slightly on these corporate formalities, but full operation of the subsidiary and bank accounts are expected to complete within 30 days.
IDT Corporation (NYSE:IDT), reports that Rupert Murdoch and Gene Renna have joined its Strategic Advisory Board.
K. Rupert Murdoch is the founder, Chairman of the Board, and CEO of News Corporation, one of the world’s largest diversified media companies. News Corporation’s holdings include Fox Entertainment, Dow Jones and Company, the New York Post, HarperCollins and significant media assets on six continents.
Eugene A. Renna, currently a director of Ryder System, Inc., served as Executive Vice President and a member of its Exxon Mobil’s Board of Directors before retiring in 2002. He was President and Chief Operating Officer of Mobil Corporation, and a member of its Board of Directors, until the time of its merger with Exxon Corporation in 1999.
IDT Corporation is a consumer services company with operations primarily in the telecommunications and energy industries.
IESI-BFC Ltd. (NYSE: BIN) declared regular cash dividends of Canadian $0.125 per share, payable on October 15, 2010 to shareholders of record at the close of business on September 30, 2010.
The Company has designated these dividends as eligible dividends for the purposes of the Income Tax Act (Canada).
The Company also announced that for the interim period ending September 30, 2010 and the year ending December 31, 2010, the Company has been granted exemptive relief by the Canadian securities regulatory authorities which permits it to discontinue the preparation and filing of a reconciliation of its reported financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) to Canadian generally accepted accounting principles (“Canadian GAAP”). The Company believes that this reconciliation, which would no longer be required under proposed changes to Canadian securities laws, is of limited use to investors as the Company has been reporting in U.S. GAAP since March 31, 2009, and the changes in its business since that time (including the July 2010 acquisition of Waste Services, Inc.) mean that the Canadian GAAP-reconciled financial information is no longer readily comparable between periods or years.
IESI-BFC Ltd., through its subsidiaries, is one of North America’s largest full-service waste management companies, providing non-hazardous solid waste collection and landfill disposal services to commercial, industrial, municipal and residential customers in eleven states and the District of the Columbia in the U.S., and six Canadian provinces.
IHS Inc. (NYSE:IHS), a leading global source of critical information and insight, reports that IHS Chairman and Chief Executive Officer Jerre Stead will present an overview of the company at the Morgan Stanley Business & Education Services Conference in New York. Stead will present on Thursday, September 23, 2010 at approximately 2:30 p.m. EDT.
IHS is a leading source of information and insight in pivotal areas that shape today�s business landscape: energy, economics, geopolitical risk, sustainability and supply chain management. Businesses and governments around the globe rely on the comprehensive content, expert independent analysis and flexible delivery methods of IHS to make high-impact decisions and develop strategies with speed and confidence. IHS has been in business since 1959 and became a publicly traded company on the New York Stock Exchange in 2005. Headquartered in Englewood, Colorado, USA, IHS employs more than 4,200 people in more than 30 countries around the world.
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