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		<title>High costs, currency push Ford out of Australia car manufacturing</title>
		<link>http://www.sharonastyk.com/currency-trading/high-costs-currency-push-ford-out-of-australia-car-manufacturing/</link>
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		<pubDate>Fri, 24 May 2013 08:25:02 +0000</pubDate>
		<dc:creator>Sharon</dc:creator>
				<category><![CDATA[Currency Trading]]></category>

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		<description><![CDATA[By Rob Taylor and Lincoln Feast CANBERRA (Reuters) &#8211; Ford Motor Co will shut its two Australian auto plants in October 2016, blaming a strong currency and costs that are hitting manufacturers just as the country looks for other sectors of its economy to cushion the end of a mining boom. Ford Australia will close <a href="http://www.sharonastyk.com/currency-trading/high-costs-currency-push-ford-out-of-australia-car-manufacturing/">Continue reading &#8594;</a>]]></description>
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<p class="first">By Rob Taylor and Lincoln Feast</p>
<p> CANBERRA (Reuters) &#8211; <span class="yshortcuts" id="lw_1369281128693_2">Ford Motor Co</span> <f.n> will shut its two Australian auto plants in October 2016, blaming a strong currency and costs that are hitting manufacturers just as the country looks for other sectors of its economy to cushion the end of a mining boom.</f.n></p>
<p> <span class="yshortcuts" id="lw_1369281128693_1">Ford Australia</span> will close its engine plant in Geelong and its vehicle assembly plant in Broadmeadows, both in Victoria state, with the loss of 1,200 jobs, <span class="yshortcuts" id="lw_1369281128693_3">Ford Australia Chief Executive Bob Graziano</span> said on Thursday, the latest election-year blow to the struggling Labor government.<span id="more-56"></span></p>
<p> Ford, which built 37,000 vehicles in Australia last year, has been in the country since 1925 and employs more than 3,000 people. But it has been battling sliding sales, high costs and an <span class="yshortcuts" id="lw_1369281128693_6">Australian dollar</span> trading above the U.S. currency.</p>
<p> &#8220;Our costs are double that of Europe and nearly four times Ford in Asia,&#8221; Graziano said. &#8220;The business case simply did not stack up. Manufacturing is not viable for Ford in <span class="yshortcuts" id="lw_1369281128693_5">Australia</span>.&#8221;</p>
<p> Ford&#8217;s decision to close its local production highlights the challenges the country faces as a near decade-long mining boom begins to fade. Policymakers hope other sectors of the economy such as <span class="yshortcuts" id="lw_1369281128693_8">manufacturing</span>, construction and retail will start to pick up the slack, but evidence has been scant so far.</p>
<p> The Australian dollar has traded above parity with the U.S. dollar for most of the past two years &#8211; it fell to about 97 cents only this week &#8211; making it more difficult for local manufacturers to compete globally.</p>
<p> <span class="yshortcuts" id="lw_1369281128693_9">Graziano</span> said Ford had lost A$600 million ($581 million) in the last five years in Australia, and A$141 million in the last fiscal year, as customers turned to smaller imported vehicles built by Japan&#8217;s Mazda and South Korea&#8217;s Hyundai .</p>
<p> The country&#8217;s Performance of Manufacturing index fell to a four-year low in April, indicating continuing contraction in the sector despite record low interest rates of 2.75 percent.</p>
<p> &#8220;<span class="yshortcuts" id="lw_1369281128693_4">Australia</span>&#8216;s <span class="yshortcuts" id="lw_1369281128693_7">manufacturing</span> sector continues to under-perform other parts of the globe,&#8221; CommSec Economist Savanth Sebastian said in a research note this month.</p>
<p> &#8220;The main difference is the strength of the Aussie dollar, which clearly is causing businesses to markedly re-assess the viability of ongoing operations as well as strategic direction,&#8221; Sebastian said.</p>
<p> General Motors Holden, the local unit of General Motors Co <gm.n>, said last month it was cutting 500 jobs, or 18 percent of its workforce. It also cited the damage to its competitiveness from the strength of the Australian dollar.</gm.n></p>
<p> POLITICAL IMPLICATIONS</p>
<p> Ford&#8217;s decision is likely to trigger a row over state assistance to the auto industry ahead of elections in September. Polls suggest the minority Labor government is heading for a bruising defeat, due largely to its perceived mismanagement of the economy.</p>
<p> Labor has earmarked around A$5.4 billion for car industry assistance to 2020, pointing to the sector&#8217;s importance in maintaining heavy-industry skills and employment.</p>
<p> The Australian automotive industry employs about 55,000 people and supports 200,000 other manufacturing jobs. Ford&#8217;s closure is likely to affect the economies of scale at other local builders, General Motors and Toyota Motor Corp .</p>
<p> Prime Minister Julia Gillard said the government&#8217;s immediate priority would be to support workers affected by the closures, likely to include parts makers already hurt by Mitsubishi Motors Corp&#8217;s closure of its Australian plants in 2008.</p>
<p> &#8220;The economy that we have today has many sources of strength, but the high Australian dollar is putting a lot of pressure on some industries, particularly manufacturing,&#8221; Gillard told reporters.</p>
<p> Australia&#8217;s Reserve Bank expects the A$1.5 trillion economy to grow slightly below trend at 2.5 percent this year, returning to average or trend rates 2014. Unemployment is expected to rise slightly to 5.75 percent.</p>
<p> Australia has annual sales of approximately 1.1 million new vehicles, with deliveries up 7.6 percent to 85,117 in April. But sales of locally manufactured vehicles have fallen to around 221,000 in recent years, from almost 389,000 in 2005.</p>
<p> At home in North America, Ford is faring better and announced on Wednesday it was adding a week of production at most of its factories to build an extra 40,000 vehicles.</p>
<p> (Additional reporting by James Grubel; Editing by Stephen Coates)</p>
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		<title>Noah Education Announces Unaudited Third Quarter Fiscal Year 2013 Results</title>
		<link>http://www.sharonastyk.com/currency-trading/noah-education-announces-unaudited-third-quarter-fiscal-year-2013-results/</link>
		<comments>http://www.sharonastyk.com/currency-trading/noah-education-announces-unaudited-third-quarter-fiscal-year-2013-results/#comments</comments>
		<pubDate>Thu, 23 May 2013 01:00:02 +0000</pubDate>
		<dc:creator>Sharon</dc:creator>
				<category><![CDATA[Currency Trading]]></category>

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		<description><![CDATA[SHENZHEN, China, May 22, 2013 /PRNewswire/ &#8212; Noah Education Holdings Ltd. (&#8220;Noah&#8221; or the &#8220;Company&#8221;) (NYSE: NED), a leading provider of education services in China, today announced its unaudited financial results for the third fiscal quarter ended March 31, 2013. Third Quarter Fiscal 2013 Financial Highlights (compared to third quarter fiscal 2012) Net revenue increased <a href="http://www.sharonastyk.com/currency-trading/noah-education-announces-unaudited-third-quarter-fiscal-year-2013-results/">Continue reading &#8594;</a>]]></description>
				<content:encoded><![CDATA[<p><!--startclickprintexclude--> <a name="linktopagetop" id="linktopagetop"></a> <!--endclickprintexclude--> <!-- title -->
<p itemprop="articleBody"><span class="xn-location">SHENZHEN, China</span>, <span class="xn-chron">May 22, 2013</span> /PRNewswire/ &#8212; Noah Education Holdings Ltd. (&#8220;Noah&#8221; or the &#8220;Company&#8221;) (NYSE: <a href="http://studio-5.financialcontent.com/prnews?Page=Quote&#038;Ticker=NED" target="_blank" title="NED" onclick="linkOnClick(this)"> NED</a>), a leading provider of education services in <span class="xn-location">China</span>, today announced its unaudited financial results for the third fiscal quarter ended <span class="xn-chron">March 31, 2013</span>.<span id="more-55"></span></p>
<p itemprop="articleBody"><b>Third</b><b> </b><b>Quarter Fiscal </b><b>2013</b><b> </b><b>Financial </b><b>Highlights (compared to third quarter fiscal 2012)</b></p>
<ul type="disc">
<li>Net revenue increased 24.6% to <span class="xn-money">RMB46.4 million</span> (<span class="xn-money">US$7.5 million</span>) </li>
<li>Gross profit decreased 0.9% to <span class="xn-money">RMB17.2 million</span> (<span class="xn-money">US$2.8 million</span>), and gross profit margin was 37.0% </li>
<li>Operating loss was <span class="xn-money">RMB4.5 million</span> (<span class="xn-money">US$0.7 million</span>) as compared to an operating loss of <span class="xn-money">RMB1.8 million</span> </li>
<li>Net loss was <span class="xn-money">RMB0.2 million</span> (<span class="xn-money">US$0.03 million</span>), compared to a net income of <span class="xn-money">RMB2.2 million</span> </li>
<li>Non-GAAP net loss, excluding share based compensation expenses, was <span class="xn-money">RMB0.2 million</span> (<span class="xn-money">US$0.03 million</span>), compared to a Non-GAAP net income of <span class="xn-money">RMB2.6 million</span> </li>
<li>Basic and diluted earnings per share were nil as compared to basic and diluted earnings per share of <span class="xn-money">RMB0.04</span> </li>
<li>Non-GAAP basic and diluted earnings per share were nil as compared to non-GAAP basic and diluted earnings per share of <span class="xn-money">RMB0.05</span></li>
</ul>
<p itemprop="articleBody">Commenting on the results, <span class="xn-person">Dong Xu</span>, Chairman and Chief Executive Officer of Noah, said, &#8220;We are pleased to report that Noah recorded another strong quarter of top line growth in a traditionally slow quarter during which the month-long <span class="xn-chron">Chinese New Year</span> holidays and winter break fell. Nevertheless, our revenue increased 24.6% year-over-year, driven by contributions from our newly acquired DDK Consulting and Xiaoxiao Consulting, as well as organic growth from our existing schools and kindergartens.&#8221;</p>
<p itemprop="articleBody">Mr. Xu continued, &#8220;Looking ahead, while staff costs has increased across the education services sector, we are confident of maintaining our margins at the current level through our two-pronged strategy of growing organically and by strategic acquisitions in the longer term. We strongly believe that business sustainability and delivering consistent results are essential in creating value for our shareholders.&#8221;</p>
<p itemprop="articleBody"><span class="xn-person">Dora Li</span>, Chief Financial Officer, added, &#8220;We are optimistic in meeting our fiscal year 2013 guidance as we progress to the final quarter. The fourth quarter is traditionally one of our strongest in terms of revenue, as we anticipate a full three months of revenue recognition across all our operations. Our cash inflows from operations also provide us important financial resources for future business expansion. Last but not least, we remain on course in achieving breakeven at the operating level for fiscal year 2013.&#8221;</p>
<p itemprop="articleBody"><b>Third Quarter </b><b>of </b><b>Fiscal Year 201</b><b>3</b><b> Financial Results</b></p>
<p itemprop="articleBody"><i>Net revenue</i></p>
<p itemprop="articleBody">Net revenue for the third quarter of fiscal 2013 increased 24.6% year-over-year to <span class="xn-money">RMB46.4 million</span> (<span class="xn-money">US$7.5 million</span>) from <span class="xn-money">RMB37.3 million</span>. The increase was attributable mainly to the newly acquired business of DDK Consulting and Xiaoxiao Consulting and organic growth of existing schools and kindergartens.</p>
<p itemprop="articleBody">In terms of revenue breakdown by business lines, revenue from kindergartens increased 38.7% year-over-year to <span class="xn-money">RMB28.3 million</span> (<span class="xn-money">US$4.5 million</span>) from <span class="xn-money">RMB20.4 million</span>. Revenue from primary and secondary schools increased 29.9% year-over-year to <span class="xn-money">RMB11.3 million</span> (<span class="xn-money">US$1.8 million</span>) from <span class="xn-money">RMB8.7 million</span>. Revenue from supplemental education, which includes English training courses and the sale of teaching materials, decreased 17.1% year-over-year to <span class="xn-money">RMB6.8 million</span> (<span class="xn-money">US$1.1 million</span>) from <span class="xn-money">RMB8.2 million</span>.</p>
<div class="divOverflow">
<div>
<table border="1" cellpadding="0" cellspacing="0" class="prntblns" readability="4">
<tr>
<td class="prnbbs prnbls prnpl6 prnpr6 prnvab prnbts prnbrs" rowspan="2">
<p class="prnews_p"><span class="prnews_span"><b>Services</b></span></p>
</td>
<td class="prngen3" colspan="2">
<p class="prnews_p"><span class="prnews_span">3Q FY2013</span></p>
</td>
<td class="prngen3" colspan="2">
<p class="prnews_p"><span class="prnews_span">3Q FY2012</span></p>
</td>
</tr>
<tr readability="6">
<td class="prngen4">
<p class="prnews_p"><span class="prnews_span">Revenue</span></p>
<p class="prnews_p"><span class="prnews_span">(RMB million)</span></p>
</td>
<td class="prngen4" readability="5">
<p class="prnews_p"><span class="prnews_span">Percentage of<br />net revenue </span></p>
</td>
<td class="prngen4">
<p class="prnews_p"><span class="prnews_span">Revenue</span></p>
<p class="prnews_p"><span class="prnews_span">(RMB million)</span></p>
</td>
<td class="prngen4" readability="5">
<p class="prnews_p"><span class="prnews_span">Percentage of<br />net revenue</span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen5" nowrap="nowrap" readability="5">
<p class="prnews_p"><span class="prnews_span"><b>Kindergartens                                   </b></span></p>
</td>
<td class="prngen6">
<p class="prnews_p"><span class="prnews_span">28.3</span></p>
</td>
<td class="prngen6">
<p class="prnews_p"><span class="prnews_span">61.0</span></p>
</td>
<td class="prngen6">
<p class="prnews_p"><span class="prnews_span">20.4</span></p>
</td>
<td class="prngen6">
<p class="prnews_p"><span class="prnews_span">54.7</span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen5" readability="5">
<p class="prnews_p"><span class="prnews_span"><b>Primary and secondary schools</b></span></p>
</td>
<td class="prngen6">
<p class="prnews_p"><span class="prnews_span">11.3</span></p>
</td>
<td class="prngen6">
<p class="prnews_p"><span class="prnews_span">24.4</span></p>
</td>
<td class="prngen6">
<p class="prnews_p"><span class="prnews_span">8.7</span></p>
</td>
<td class="prngen6">
<p class="prnews_p"><span class="prnews_span">23.3</span></p>
</td>
</tr>
<tr>
<td class="prngen5">
<p class="prnews_p"><span class="prnews_span"><b>Supplemental education</b></span></p>
</td>
<td class="prngen6">
<p class="prnews_p"><span class="prnews_span">6.8</span></p>
</td>
<td class="prngen6">
<p class="prnews_p"><span class="prnews_span">14.6</span></p>
</td>
<td class="prngen6">
<p class="prnews_p"><span class="prnews_span">8.2</span></p>
</td>
<td class="prngen6">
<p class="prnews_p"><span class="prnews_span">22.0</span></p>
</td>
</tr>
<tr>
<td class="prngen5">
<p class="prnews_p"><span class="prnews_span"><b>Total</b></span></p>
</td>
<td class="prngen6">
<p class="prnews_p"><span class="prnews_span">46.4</span></p>
</td>
<td class="prngen6">
<p class="prnews_p"><span class="prnews_span">100</span></p>
</td>
<td class="prngen6">
<p class="prnews_p"><span class="prnews_span">37.5</span></p>
</td>
<td class="prngen6">
<p class="prnews_p"><span class="prnews_span">100</span></p>
</td>
</tr>
</table>
</div>
</div>
<p itemprop="articleBody"><i>Gross profit and gross profit margin</i></p>
<p itemprop="articleBody">Gross profit for the third quarter of fiscal 2013 decreased 0.9% year-over-year to <span class="xn-money">RMB17.2 million</span> (<span class="xn-money">US$2.8 million</span>) from <span class="xn-money">RMB17.3 million</span>. Gross profit margin for the third quarter of fiscal 2013 was 37.0%, compared to 46.5% in the third quarter of fiscal 2012. The decrease in gross profit margin was primarily due to an increase in staff costs and expenses associated with the newly acquired DDK Consulting and Xiaoxiao Consulting, as well as an overall increase in the salaries of teachers in existing schools reflecting escalating staff costs generally in <span class="xn-location">China</span>&#8216;s educational sector.</p>
<p itemprop="articleBody"><i>Operating expenses</i></p>
<p itemprop="articleBody">Total operating expenses for the third quarter of fiscal 2013 were <span class="xn-money">RMB25.2 million</span> (<span class="xn-money">US$4.0 million</span>), compared to <span class="xn-money">RMB23.2 million</span> in the third quarter of fiscal 2012, primarily due to the increase in general and administrative expenses.</p>
<p itemprop="articleBody">Research and development (&#8220;R&#038;D&#8221;) expenses for the third quarter of fiscal 2013 were <span class="xn-money">RMB0.4 million</span> (<span class="xn-money">US$0.07 million</span>), compared to <span class="xn-money">RMB0.8 million</span> in the same period of fiscal 2012. The decrease in R&#038;D expenses was mainly due to the decrease in staff costs as result of a consolidation in R&#038;D staffing. As a percentage of net revenue, R&#038;D expenses decreased to 1.0% in the third quarter of fiscal 2013 from 2.1% in the same quarter of fiscal 2012. The R&#038;D investment is focused on the development of teaching materials.</p>
<p itemprop="articleBody">Sales and marketing (&#8220;S&#038;M&#8221;) expenses for the third quarter were <span class="xn-money">RMB1.5 million</span> (<span class="xn-money">US$0.2 million</span>) compared to <span class="xn-money">RMB1.3 million</span> in the same period of fiscal 2012. The increase in S&#038;M expenses was mainly attributable to the increase in promotion expenses related to spring term enrollment in our primary and secondary school sector. As a percentage of net revenue, S&#038;M expenses decreased to 3.1% in the third quarter of fiscal 2013, compared to 3.5% in the same period of fiscal 2012.</p>
<p itemprop="articleBody">General and administrative (&#8220;G&#038;A&#8221;) expenses for the third quarter of fiscal 2013 were <span class="xn-money">RMB23.1 million</span> (<span class="xn-money">US$3.7 million</span>), compared to <span class="xn-money">RMB21.1 million</span> in the same period of fiscal 2012. The increase in G&#038;A expenses was primarily attributable to incremental G&#038;A expenses arising from the acquired business of DDK and Xiaoxiao Consulting of <span class="xn-money">RMB0.9 million</span> (<span class="xn-money">US$0.1 million</span>), and from newly opened kindergartens of <span class="xn-money">RMB0.6 million</span> (<span class="xn-money">US$0.1 million</span>). As a percentage of net revenue, G&#038;A expenses decreased to 49.7% in the third quarter of fiscal 2013, compared to 56.6% in the same period of fiscal 2012. The decrease in G&#038;A expenses, as a percentage of net revenue reflects the improvement of the Company&#8217;s operational leverage with the expansion of revenue scale.</p>
<p itemprop="articleBody"><i>Other operating income</i></p>
<p itemprop="articleBody">Other operating income for the third quarter of fiscal 2013 decreased 15.3% year-over-year to <span class="xn-money">RMB3.5 million</span> (<span class="xn-money">US$0.6 million</span>) from <span class="xn-money">RMB4.1 million</span> in the third quarter of fiscal 2012. The decrease was mainly due to decreased in revenue derived from training camps and interest groups.</p>
<p itemprop="articleBody"><i>Net operating</i><i> loss</i></p>
<p itemprop="articleBody">Net operating loss for the third quarter of fiscal 2013 was <span class="xn-money">RMB4.5 million</span> (<span class="xn-money">US$0.7 million</span>), compared to an operating loss of <span class="xn-money">RMB1.8 million</span> in the third quarter of fiscal 2012. The increase in operating loss for this quarter is mainly attributable to the increase in staff cost and expenses associated with the newly acquired DDK Consulting and Xiaoxiao Consulting, as well as an overall increase in the salaries of teachers in existing schools.</p>
<p itemprop="articleBody"><i>N</i><i>on-operating income</i></p>
<p itemprop="articleBody">Interest income for the third quarter of fiscal 2013 was <span class="xn-money">RMB0.4 million</span> (<span class="xn-money">US$0.07 million</span>), compared to <span class="xn-money">RMB0.2 million</span> in the same period of fiscal 2012. Investment income for the third quarter of fiscal 2013 was <span class="xn-money">RMB4.6 million</span> (<span class="xn-money">US$0.7 million</span>), compared to <span class="xn-money">RMB5.5 million</span> in the third quarter of fiscal 2012. The Company incurred a non-operating loss for the third quarter of fiscal 2013 of <span class="xn-money">RMB0.5 million</span> (<span class="xn-money">US$0.07 million</span>), due to the recognition of an impairment loss of <span class="xn-money">RMB1.1 million</span> from our investment in Franklin Electronic Publishers. In the same period of fiscal 2012, Noah reported other non-operating income of <span class="xn-money">RMB0.4 million</span>.</p>
<p itemprop="articleBody"><i>Income tax expenses</i></p>
<p itemprop="articleBody">Income tax expenses for the third quarter of fiscal 2013 were <span class="xn-money">RMB0.2 million</span> (<span class="xn-money">US$0.04 million</span>), compared to an expense of <span class="xn-money">RMB1.7 million</span> for the same period in fiscal 2012. The decrease was mainly due to the decrease in income before tax.</p>
<p itemprop="articleBody"><i>Net </i><i>Income</i><i>/ (loss)</i></p>
<p itemprop="articleBody">Net loss for the third quarter of fiscal 2013 was <span class="xn-money">RMB0.2 million</span> (<span class="xn-money">US$0.03 million</span>), compared to a net income of <span class="xn-money">RMB2.2 million</span> in the same period of fiscal 2012. Basic and diluted earnings per share were nil, compared to basic and diluted earnings per share of <span class="xn-money">RMB0.04</span> in the third quarter of fiscal 2012.</p>
<p itemprop="articleBody">Net loss excluding share-based compensation expenses (non-GAAP) for the third quarter of fiscal 2013 was <span class="xn-money">RMB0.2million</span> (<span class="xn-money">US$0.03 million</span>), compared to non-GAAP net income of <span class="xn-money">RMB2.6 million</span> in the same period of fiscal 2012. Non-GAAP basic and diluted earnings per share for the third quarter of fiscal 2013 were nil, compared to a non-GAAP basic and diluted earnings per share of <span class="xn-money">RMB0.05</span> in the third quarter of fiscal 2012.</p>
<p itemprop="articleBody"><i>Liquidity</i></p>
<p itemprop="articleBody">Cash and cash equivalents, and short-term investments totaled <span class="xn-money">RMB531.1 million</span> (<span class="xn-money">US$85.5 million</span>) as of <span class="xn-chron">March 31, 2013</span>, compared to <span class="xn-money">RMB486.6 million</span> as of <span class="xn-chron">December 31, 2012</span>. For the three months ended <span class="xn-chron">March 31, 2013</span>, operating cash provided by continuing operations was <span class="xn-money">RMB57.3 million</span> (<span class="xn-money">US$9.2 million</span>).</p>
<p itemprop="articleBody">Free cash flow for the quarter ended <span class="xn-chron">March 31, 2013</span> was <span class="xn-money">RMB45.0 million</span> (<span class="xn-money">US$7.2 million</span>), compared to outflow of <span class="xn-money">RMB30.2 million</span> as of <span class="xn-chron">December 31, 2012</span>. Free cash flow includes operating cash flow less cash spent on capital expenditure and acquisition for the period.</p>
<p itemprop="articleBody"><i>Deferred revenue</i></p>
<p itemprop="articleBody">Deferred revenue related to tuition fees and franchising fees was <span class="xn-money">RMB60.3 million</span> (<span class="xn-money">US$9.7 million</span>) as of <span class="xn-chron">March 31, 2013</span>, compared to <span class="xn-money">RMB24.2 million</span> as of <span class="xn-chron">December 31, 2012</span>. Deferred revenue primarily includes the tuition fees and franchising fees collected that have not yet been recognized during the quarter. It will be recognized according to the course and contract schedule.</p>
<p itemprop="articleBody"><b>Operational Updates </b></p>
<p itemprop="articleBody">Noah operated 65 schools and kindergartens in its network at the end of the third quarter of fiscal 2013. The network includes 49 kindergartens, two of which have recently opened in the period and have begun contributing revenue. Currently, there are 10 kindergartens in their respective ramp up periods.</p>
<p itemprop="articleBody">Noah&#8217;s network also includes five primary and secondary schools. One of them opened in the first quarter of fiscal 2012 and remains in its ramp up stage, with enrollment rate of 38% as of <span class="xn-chron">March 31, 2013</span>.</p>
<p itemprop="articleBody">Noah also operates 11 directly-owned supplemental training centers.</p>
<p itemprop="articleBody">Student enrollment totaled over 21,400, reflecting a year-over-year increase of about 23% due to the expansion of the network. Categorized according to business segments, more than 12,600 students are enrolled in kindergartens, while approximately 4,900 are accounted for in primary and secondary schools, and the remaining 3,900 are in directly owned supplemental training centers.</p>
<p itemprop="articleBody"><b>Financial Outlook for the </b><b>Fourth </b><b>Q</b><b>uarter of </b><b>F</b><b>iscal 201</b><b>3 and Full Fiscal 2013</b></p>
<p itemprop="articleBody">Based on current estimates and market conditions, for the fourth quarter of fiscal 2013, Noah expects to generate net revenue in the range of <span class="xn-money">RMB58 million</span> <span class="xn-money">(US$9.3 million) to RMB67 million</span> (<span class="xn-money">US$10.8 million</span>). For the full fiscal 2013, the Company maintains the revenue outlook in the range of <span class="xn-money">RMB206 million</span> <span class="xn-money">(US$33.0 million) to RMB215 million</span> (<span class="xn-money">US$34.6 million</span>). This forecast reflects Noah&#8217;s current and preliminary view, which is subject to change.</p>
<p itemprop="articleBody"><b>Conference Call</b></p>
<p itemprop="articleBody">Noah&#8217;s senior management will host a conference call at <span class="xn-chron">8:00 am</span> (Eastern)/<span class="xn-chron">5:00 am</span> (Pacific)/<span class="xn-chron">8:00 pm</span> (<span class="xn-location">China</span>) on <span class="xn-chron">Thursday, May 23, 2013</span> to discuss its third quarter of fiscal year 2013 financial results and recent business activities. The conference call may be accessed by calling:</p>
<div class="divOverflow">
<div>
<table border="0" cellpadding="0" cellspacing="0" class="prntblns" readability="1.5">
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">US </span></p>
</td>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">+1-866-519-4004</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">International </span></p>
</td>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">+65-6723-9381</span></p>
</td>
</tr>
<tr readability="4.5">
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">China, Domestic </span></p>
</td>
<td class="prngen7" readability="6">
<p class="prnews_p"><span class="prnews_span">400-620-8038, 800-819-0121</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">Hong Kong </span></p>
</td>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">800-930-346</span></p>
</td>
</tr>
</table>
</div>
</div>
<p itemprop="articleBody">Please dial in 10 minutes before the scheduled starting time. An operator will answer your call and please use &#8220;Noah&#8221; as the verbal passcode to access the call. Replay of the conference call will be available from <span class="xn-chron">11:00 am</span> US Eastern Time on <span class="xn-chron">May 23, 2013</span> until <span class="xn-chron">March 30, 2013</span> by dialing the following numbers:</p>
<div class="divOverflow">
<div>
<table border="0" cellpadding="0" cellspacing="0" class="prntblns" readability="1.5">
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">US </span></p>
</td>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">+1-855-452-5696</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">International      </span></p>
</td>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">+61-2-8199-0299</span></p>
</td>
</tr>
<tr readability="4.5">
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">China </span></p>
</td>
<td class="prngen7" readability="6">
<p class="prnews_p"><span class="prnews_span">400-120-0932, 800-870-0205</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">Hong Kong </span></p>
</td>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">800-963-117</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">Passcode </span></p>
</td>
<td class="prnbb1 prntal prnbl1 prnpl6 prnpr6 prnvab prnbt1 prnbr1">
<p class="prnews_p"><span class="prnews_span">44898403</span></p>
</td>
</tr>
</table>
</div>
</div>
<p class="prntal">A live webcast can also be accessed through the investor relations section of the Company&#8217;s website at <a onclick="linkOnClick(this)" href="http://ir.noaheducation.com/" target="_blank">http://ir.noaheducation.com</a>.</p>
<p itemprop="articleBody"><b>Statement Regarding Unaudited Financial Information</b></p>
<p itemprop="articleBody">The unaudited financial information set forth above is subject to adjustments that may be identified when audit work is performed on our year-end financial statements, which could result in significant differences from this unaudited financial information.</p>
<p itemprop="articleBody"><b>Currency Convenience Translation</b></p>
<p itemprop="articleBody">For the convenience of readers, certain RMB amounts in the statement of operations, balance sheet and cash flow statements have been translated into US dollars at the rate of <span class="xn-money">RMB6.2108</span>, the noon buying rate for US dollars in effect on <span class="xn-chron">March 31, 2013</span> for cable transfers of RMB per US dollar as certified for customs purposes by the Federal Reserve Bank of <span class="xn-location">New York</span>.</p>
<p itemprop="articleBody"><b>Use of Non-GAAP Financial Measures</b></p>
<p itemprop="articleBody">In addition to consolidated financial results under GAAP, the Company also provides non-GAAP financial measures, including non-GAAP net income which excludes goodwill and intangible assets impairment and non-cash share-based compensation. The Company believes that the non-GAAP financial measures provide investors with another method for assessing the Company&#8217;s operating results in a manner that is focused on the performance of its ongoing operations. Readers are cautioned not to view non-GAAP results on a stand-alone basis or as a substitute for results under GAAP, or as being comparable to results reported or forecasted by other companies. The Company believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing the performance of the Company&#8217;s liquidity and when planning and forecasting future periods.</p>
<p itemprop="articleBody"><b>About Noah Education Holdings Ltd</b></p>
<p itemprop="articleBody">Noah is a leading provider of education services in <span class="xn-location">China</span>. The Company&#8217;s brands include Wentai Education, which operates and manages high-end kindergartens, primary and secondary schools, Little New Star, which provides English language training for children aged 3-12 in its directly owned and franchised training centers, and Yuanbo Education, which focuses on early childhood education services in the Yangtze Delta region. Noah was founded in 2004 and is listed on the New York Stock Exchange under the ticker symbol NED. For more information about Noah, please visit <a onclick="linkOnClick(this)" href="http://ir.noaheducation.com/" target="_blank">http://ir.noaheducation.com</a>.</p>
<p itemprop="articleBody"><b>Safe Harbor Statement</b></p>
<p itemprop="articleBody">This press release contains forward-looking statements that reflect Noah&#8217;s current expectations and views of future events that involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Noah has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. You should understand that our actual future results may be materially different from and worse than what Noah expects. Information regarding these risks, uncertainties and other factors is included in Noah&#8217;s most recent Annual Report on Form 20-F and other filings with the SEC.</p>
<p itemprop="articleBody"><b>Investor Contacts<br /></b><b>Noah Education Holdings Ltd.<br /></b>Email: <a onclick="linkOnClick(this)" href="mailto:ir@noaheducation.com" target="_blank">ir@noaheducation.com</a> </p>
<div class="divOverflow">
<div>
<table border="0" cellpadding="0" cellspacing="0" class="prntblns" readability="48.5">
<tr readability="3">
<td class="prngen9" colspan="5" readability="5">
<p class="prnews_p"><span class="prnews_span"><b>Noah Education Holdings Ltd.</b></span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen9" colspan="5" readability="5">
<p class="prnews_p"><span class="prnews_span"><b>Consolidated Balance Sheet</b></span></p>
</td>
</tr>
<tr>
<td class="prngen10" colspan="5"></td>
</tr>
<tr>
<td class="prngen10"></td>
<td class="prngen9">
<p class="prnews_p"><span class="prnews_span"><b>December 31</b></span></p>
</td>
<td class="prngen10"></td>
<td class="prngen9" colspan="2">
<p class="prnews_p"><span class="prnews_span"><b>March 31</b></span></p>
</td>
</tr>
<tr>
<td class="prngen10"></td>
<td class="prngen11">
<p class="prnews_p"><span class="prnews_span"><b>2012</b></span></p>
</td>
<td class="prngen12"></td>
<td class="prngen11" colspan="2">
<p class="prnews_p"><span class="prnews_span"><b>2013</b></span></p>
</td>
</tr>
<tr>
<td class="prngen10"></td>
<td class="prngen13">
<p class="prnews_p"><span class="prnews_span"><b>Unaudited</b></span></p>
</td>
<td class="prngen10"></td>
<td class="prngen13" colspan="2">
<p class="prnews_p"><span class="prnews_span"><b>Unaudited</b></span></p>
</td>
</tr>
<tr>
<td class="prngen10"></td>
<td class="prngen9">
<p class="prnews_p"><span class="prnews_span"><b>RMB</b></span></p>
</td>
<td class="prngen10"></td>
<td class="prngen9">
<p class="prnews_p"><span class="prnews_span"><b>RMB</b></span></p>
</td>
<td class="prngen14">
<p class="prnews_p"><span class="prnews_span"><b>USD</b></span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">Assets:</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
</tr>
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">Current assets</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
</tr>
<tr readability="3">
<td class="prngen7" readability="5">
<p class="prnind10"><span class="prnews_span">Cash and cash equivalents</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">184,575,609</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">161,356,566</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">25,979,997</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnind10"><span class="prnews_span">Investments</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
</tr>
<tr readability="3">
<td class="prngen7" readability="5">
<p class="prnind12"><span class="prnews_span">Held to maturity investments</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">302,003,441</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">369,703,441</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">59,525,897</span></p>
</td>
</tr>
<tr readability="4.5">
<td class="prngen7" readability="6">
<p class="prnind10"><span class="prnews_span">Accounts receivables, net of allowance of doubtful debts</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">296,832</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">337,131</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">54,281</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnind10"><span class="prnews_span">Inventories</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">5,119,933</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">4,642,528</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">747,493</span></p>
</td>
</tr>
<tr readability="4.5">
<td class="prngen7" readability="6">
<p class="prnind10"><span class="prnews_span">Prepaid expenses, and other current assets</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">27,384,846</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">26,200,693</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">4,218,570</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnind10"><span class="prnews_span">Total current assets</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">519,380,661</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">562,240,359</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">90,526,238</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnind10"><span class="prnews_span">Investments</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">16,536,812</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">15,432,931</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">2,484,854</span></p>
</td>
</tr>
<tr readability="6">
<td class="prngen7" readability="7">
<p class="prnind10"><span class="prnews_span">Property, plant and equipment, net</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">197,208,442</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">199,628,288</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">32,142,121</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnind10"><span class="prnews_span">Intangible assets, net</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">83,110,006</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">81,752,779</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">13,163,003</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnind10"><span class="prnews_span">Goodwill</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">75,486,941</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">75,486,941</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">12,154,141</span></p>
</td>
</tr>
<tr readability="4.5">
<td class="prngen7" readability="6">
<p class="prnind10"><span class="prnews_span">Deposit for property, plant and equipment</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">775,675</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">2,586,916</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">416,519</span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen7" readability="5">
<p class="prnind10"><span class="prnews_span">Deferred tax assets – non-current</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">186,569</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">141,166</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">22,729</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnind10"><span class="prnews_span">Total assets</span></p>
</td>
<td class="prngen16">
<p class="prnews_p"><span class="prnews_span">892,685,106</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen16">
<p class="prnews_p"><span class="prnews_span">937,269,380</span></p>
</td>
<td class="prngen16">
<p class="prnews_p"><span class="prnews_span">150,909,605</span></p>
</td>
</tr>
<tr>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
</tr>
<tr readability="3">
<td class="prngen7" readability="5">
<p class="prnews_p"><span class="prnews_span">Liabilities and Shareholders&#8217; equity</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
</tr>
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">Current liabilities</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
</tr>
<tr readability="16.5">
<td class="prngen7" nowrap="nowrap" readability="14">
<p class="prnind10"><span class="prnews_span">Accounts payable (including account payables of the <br />         consolidated variable interest entities (&#8220;VIEs&#8221;) without <br />         recourse to the Company of RMB1,457,134 and <br />         RMB1,315,664 as of December 31, 2012 and March 31, <br />         2013, respectively)</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">1,499,973</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">1,358,983</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">218,810</span></p>
</td>
</tr>
<tr readability="18">
<td class="prngen7" nowrap="nowrap" readability="15">
<p class="prnind10"><span class="prnews_span">Other payables and accruals (including other payables, accruals <br />         of the consolidated VIEs without recourse to the Company <br />         of RMB13,505,027 and RMB21,534,003 as of December 31, <br />         2102 and March 31, 2013, respectively)</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">36,990,477</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">48,171,743</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">7,756,125</span></p>
</td>
</tr>
<tr readability="13.5">
<td class="prngen7" nowrap="nowrap" readability="12">
<p class="prnind10"><span class="prnews_span">Advances from customers (including advance from customer of <br />         the consolidated VIEs without recourse to the Company of <br />         RMB568,310 and RMB463,408 as of December 31, 2012 and <br />         March 31, 2013, respectively)</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">578,904</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">468,703</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">75,466</span></p>
</td>
</tr>
<tr readability="16.5">
<td class="prngen7" nowrap="nowrap" readability="14">
<p class="prnind10"><span class="prnews_span">Income tax payable (including income tax payables of the <br />         consolidated VIEs without recourse to the Company of <br />         RMB8,175,506 and RMB6,574,234 as of December 31, 2012 <br />         and March 31, 2013, respectively)</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">17,879,204</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">16,839,966</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">2,711,400</span></p>
</td>
</tr>
<tr readability="16.5">
<td class="prngen7" nowrap="nowrap" readability="14">
<p class="prnind10"><span class="prnews_span">Deferred revenue (including deferred revenues of the <br />         consolidated VIEs without recourse to the Company of <br />         RMB4,668,876 and RMB25,256,986 as of December 31, <br />         2012 and March 31, 2013, respectively)</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">23,262,482</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">59,222,987</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">9,535,484</span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen7" readability="5">
<p class="prnind10"><span class="prnews_span">Contingent consideration payable</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">3,395,000</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">3,395,000</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">546,628</span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen7" readability="5">
<p class="prnind10"><span class="prnews_span">Total current liabilities</span></p>
</td>
<td class="prngen16">
<p class="prnews_p"><span class="prnews_span">83,606,040</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen16">
<p class="prnews_p"><span class="prnews_span">129,457,382</span></p>
</td>
<td class="prngen16">
<p class="prnews_p"><span class="prnews_span">20,843,913</span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen7" readability="5">
<p class="prnind10"><span class="prnews_span">Deferred revenues – non-current</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">3,327,424</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">3,136,747</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">505,047</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnind10"><span class="prnews_span">Deferred tax liabilities</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">10,219,833</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">9,813,852</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">1,580,127</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnind10"><span class="prnews_span">Other liabilities</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">1,102,801</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">1,102,801</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">177,563</span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen7" readability="5">
<p class="prnind10"><span class="prnews_span">Total non-current liabilities</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">14,650,058</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">14,053,400</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">2,262,737</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnind10"><span class="prnews_span">Total liabilities</span></p>
</td>
<td class="prngen16">
<p class="prnews_p"><span class="prnews_span">98,256,098</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen16">
<p class="prnews_p"><span class="prnews_span">143,510,782</span></p>
</td>
<td class="prngen16">
<p class="prnews_p"><span class="prnews_span">23,106,650</span></p>
</td>
</tr>
<tr>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
</tr>
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">Shareholders&#8217; equity</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
</tr>
<tr>
<td class="prngen7">
<p class="prnind10"><span class="prnews_span">Ordinary shares</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">14,841</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">14,841</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">2,390</span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen7" readability="5">
<p class="prnind10"><span class="prnews_span">Additional paid-in capital</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">1,047,772,763</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">1,047,772,763</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">168,701,739</span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen7" readability="5">
<p class="prnind10"><span class="prnews_span">Accumulated other comprehensive loss</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(120,997,040)</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(121,371,763)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(19,542,051)</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnind10"><span class="prnews_span">Retained earnings</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(202,575,169)</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(202,709,680)</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(32,638,256)</span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen7" readability="5">
<p class="prnews_p"><span class="prnews_span">Total Noah Education Holdings Ltd. shareholders&#8217; equity</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">724,215,395</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">723,706,161</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">116,523,822</span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen7" readability="5">
<p class="prnews_p"><span class="prnews_span">Non-controlling interests</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">70,213,613</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">70,052,437</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">11,279,133</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">Total equity</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">794,429,008</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">793,758,598</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">127,802,955</span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen7" readability="5">
<p class="prnews_p"><span class="prnews_span">Total liabilities and shareholders&#8217; equity</span></p>
</td>
<td class="prngen16">
<p class="prnews_p"><span class="prnews_span">892,685,106</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen16">
<p class="prnews_p"><span class="prnews_span">937,269,380</span></p>
</td>
<td class="prngen16">
<p class="prnews_p"><span class="prnews_span">150,909,605</span></p>
</td>
</tr>
</table>
</div>
</div>
<p itemprop="articleBody"> </p>
<p itemprop="articleBody"> </p>
<div class="divOverflow">
<div>
<table border="0" cellpadding="0" cellspacing="0" class="prntblns" readability="13">
<tr readability="3">
<td class="prngen9" colspan="8" readability="5">
<p class="prnews_p"><span class="prnews_span"><b>Noah Education Holdings Ltd.</b></span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen9" colspan="8" readability="5">
<p class="prnews_p"><span class="prnews_span"><b>Consolidated Statements of Operations</b></span></p>
</td>
</tr>
<tr>
<td class="prngen10" colspan="8"></td>
</tr>
<tr readability="6">
<td class="prngen10"></td>
<td class="prngen13" colspan="3" readability="5">
<p class="prnews_p"><span class="prnews_span"><b>Three months ended </b><b>March</b><b> 31</b></span></p>
</td>
<td class="prngen10"></td>
<td class="prngen13" colspan="3" readability="5">
<p class="prnews_p"><span class="prnews_span"><b>Nine</b><b> months ended </b><b>March</b><b> 31</b></span></p>
</td>
</tr>
<tr>
<td class="prngen10"></td>
<td class="prngen12">
<p class="prnews_p"><span class="prnews_span"><b>2012</b></span></p>
</td>
<td class="prngen12" colspan="2">
<p class="prnews_p"><span class="prnews_span"><b>2013</b></span></p>
</td>
<td class="prngen12"></td>
<td class="prngen12">
<p class="prnews_p"><span class="prnews_span"><b>2012</b></span></p>
</td>
<td class="prngen12" colspan="2">
<p class="prnews_p"><span class="prnews_span"><b>2013</b></span></p>
</td>
</tr>
<tr>
<td class="prngen10"></td>
<td class="prngen13">
<p class="prnews_p"><span class="prnews_span"><b>(Unaudited)</b></span></p>
</td>
<td class="prngen13" colspan="2">
<p class="prnews_p"><span class="prnews_span"><b>(Unaudited)</b></span></p>
</td>
<td class="prngen10"></td>
<td class="prngen13">
<p class="prnews_p"><span class="prnews_span"><b>(Unaudited)</b></span></p>
</td>
<td class="prngen13" colspan="2">
<p class="prnews_p"><span class="prnews_span"><b>(Unaudited)</b></span></p>
</td>
</tr>
<tr>
<td class="prngen10"></td>
<td class="prngen9">
<p class="prnews_p"><span class="prnews_span"><b>RMB</b></span></p>
</td>
<td class="prngen9">
<p class="prnews_p"><span class="prnews_span"><b>RMB</b></span></p>
</td>
<td class="prngen9">
<p class="prnews_p"><span class="prnews_span"><b>USD</b></span></p>
</td>
<td class="prngen10"></td>
<td class="prngen9">
<p class="prnews_p"><span class="prnews_span"><b>RMB</b></span></p>
</td>
<td class="prngen9">
<p class="prnews_p"><span class="prnews_span"><b>RMB</b></span></p>
</td>
<td class="prngen9">
<p class="prnews_p"><span class="prnews_span"><b>USD</b></span></p>
</td>
</tr>
<tr>
<td class="prngen7" nowrap="nowrap">
<p class="prnews_p"><span class="prnews_span">Net revenue</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">37,270,199</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">46,435,942</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">7,476,644</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">116,351,788</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">147,952,131</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">23,821,751</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">Cost of revenue</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(19,945,356)</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(29,263,086)</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(4,711,645)</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(62,817,369)</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(87,151,997)</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(14,032,330)</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">Gross profit</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">17,324,843</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">17,172,856</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">2,764,999</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">53,534,419</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">60,800,134</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">9,789,421</span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen7" nowrap="nowrap" readability="5">
<p class="prnews_p"><span class="prnews_span">Research &#038; development expenses</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(783,723)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(427,772)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(68,876)</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(2,256,886)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(1,611,411)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(259,453)</span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen7" readability="5">
<p class="prnews_p"><span class="prnews_span">Sales &#038; marketing expenses</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(1,318,864)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(1,457,516)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(234,674)</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(4,513,559)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(4,448,221)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(716,207)</span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen7" readability="5">
<p class="prnews_p"><span class="prnews_span">General &#038; administrative expenses</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(21,111,395)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(23,095,703)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(3,718,636)</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(65,118,894)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(67,337,942)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(10,842,072)</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">Other expenses</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(16,291)</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(170,400)</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(27,436)</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(33,463)</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(254,690)</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(41,008)</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">Total operating expenses</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(23,230,273)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(25,151,391)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(4,049,622)</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(71,922,802)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(73,652,264)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(11,858,740)</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">Other operating income</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">4,093,262</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">3,468,649</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">558,487</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">12,381,499</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">12,713,730</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">2,047,036</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">Net operating (loss)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(1,812,168)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(4,509,886)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(726,136)</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(6,006,884)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(138,400)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(22,283)</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">Interest income</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">239,935</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">424,043</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">68,275</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">931,370</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">1,208,860</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">194,638</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">Investment income</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">5,492,581</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">4,617,151</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">743,407</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">13,202,071</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">13,800,389</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">2,221,999</span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen7" readability="5">
<p class="prnews_p"><span class="prnews_span">Other non-operating income(loss)</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(79,713)</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(454,217)</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(73,134)</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">3,050,115</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(4,241,804)</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(682,972)</span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen7" readability="5">
<p class="prnews_p"><span class="prnews_span">Income before income taxes</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">3,840,635</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">77,091</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">12,412</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">11,176,672</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">10,629,045</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">1,711,382</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">Income tax (expenses)</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(1,683,167)</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(240,361)</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(38,700)</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(4,932,350)</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(3,727,222)</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(600,119)</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnews_p"><span class="prnews_span">Net income/(loss) </span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">2,157,468</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(163,270)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(26,288)</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">6,244,322</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">6,901,823</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">1,111,263</span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen7" nowrap="nowrap" readability="5">
<p class="prnind10"><span class="prnews_span">less: net income/(loss) attributable to non-<br />       controlling shareholders</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">610,823</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(28,759)</span></p>
</td>
<td class="prngen18">
<p class="prnews_p"><span class="prnews_span">(4,630)</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">2,548,907</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">1,740,939</span></p>
</td>
<td class="prngen15">
<p class="prnews_p"><span class="prnews_span">280,308</span></p>
</td>
</tr>
<tr readability="3">
<td class="prngen7" readability="5">
<p class="prnews_p"><span class="prnews_span">Net income/(loss) attributable to Noah Education <br />   Holdings Ltd. shareholders</span></p>
</td>
<td class="prngen16">
<p class="prnews_p"><span class="prnews_span">1,546,645</span></p>
</td>
<td class="prngen19">
<p class="prnews_p"><span class="prnews_span">(134,511)</span></p>
</td>
<td class="prngen19">
<p class="prnews_p"><span class="prnews_span">(21,658)</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen16">
<p class="prnews_p"><span class="prnews_span">3,695,415</span></p>
</td>
<td class="prngen16">
<p class="prnews_p"><span class="prnews_span">5,160,884</span></p>
</td>
<td class="prngen16">
<p class="prnews_p"><span class="prnews_span">830,955</span></p>
</td>
</tr>
<tr>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
</tr>
<tr readability="3">
<td class="prngen7" readability="5">
<p class="prnews_p"><span class="prnews_span">Net income/(loss) per share</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
</tr>
<tr>
<td class="prngen7">
<p class="prnind10"><span class="prnews_span">Basic</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">0.04</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(0.00)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(0.00)</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">0.10</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">0.14</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">0.02</span></p>
</td>
</tr>
<tr>
<td class="prngen7">
<p class="prnind10"><span class="prnews_span">Diluted</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">0.04</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(0.00)</span></p>
</td>
<td class="prngen17">
<p class="prnews_p"><span class="prnews_span">(0.00)</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">0.10</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">0.14</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">0.02</span></p>
</td>
</tr>
<tr>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
</tr>
<tr readability="3">
<td class="prngen7" readability="5">
<p class="prnews_p"><span class="prnews_span">Weighted average ordinary shares outstanding</span></p>
</td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
<td class="prngen10"></td>
</tr>
<tr>
<td class="prngen7">
<p class="prnind10"><span class="prnews_span">Basic</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span">37,625,186</span></p>
</td>
<td class="prngen10">
<p class="prnews_p"><span class="prnews_span"</p>
]]></content:encoded>
			<wfw:commentRss>http://www.sharonastyk.com/currency-trading/noah-education-announces-unaudited-third-quarter-fiscal-year-2013-results/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Asian stocks rise on signs of steady US recovery</title>
		<link>http://www.sharonastyk.com/currency-trading/asian-stocks-rise-on-signs-of-steady-us-recovery/</link>
		<comments>http://www.sharonastyk.com/currency-trading/asian-stocks-rise-on-signs-of-steady-us-recovery/#comments</comments>
		<pubDate>Tue, 21 May 2013 02:55:03 +0000</pubDate>
		<dc:creator>Sharon</dc:creator>
				<category><![CDATA[Currency Trading]]></category>

		<guid isPermaLink="false">http://www.sharonastyk.com/?p=54</guid>
		<description><![CDATA[BANGKOK (AP) — Evidence of a steady economic recovery in the U.S. helped push Asian stock markets higher Monday. A gauge of future economic activity issued Friday rose more than expected, a sign that the world&#8217;s biggest economy is improving. Consumer confidence also rose, offsetting several lackluster reports on slowing manufacturing and an increase in <a href="http://www.sharonastyk.com/currency-trading/asian-stocks-rise-on-signs-of-steady-us-recovery/">Continue reading &#8594;</a>]]></description>
				<content:encoded><![CDATA[<p><!-- google_ad_section_start -->
<div class="entry-content">
<p class="first">BANGKOK (AP) — Evidence of a steady <span class="yshortcuts" id="lw_1369027473223_5">economic recovery</span> in the U.S. helped push <span class="yshortcuts" id="lw_1369027473223_2">Asian stock markets</span> higher Monday.</p>
<p>A gauge of future economic activity issued Friday rose more than expected, a sign that the world&#8217;s biggest economy is improving. <span class="yshortcuts" id="lw_1369027473223_4">Consumer confidence</span> also rose, offsetting several lackluster reports on slowing manufacturing and an increase in applications for unemployment benefits.<span id="more-54"></span></p>
<p>Japan&#8217;s Nikkei 225 index jumped 1.4 percent to 15,352.84. Hong Kong&#8217;s Hang Seng surged 1.7 percent to 23,476.65. South Korea&#8217;s Kospi fell 0.1 percent to 1,984.06. Australia&#8217;s S&#038;P/ASX 200 advanced 0.7 percent to 5,215.40.</p>
<p>Investors will have a slew of data to sift through this week, including U.S. homes sales and durable goods orders. Analysts are somewhat pessimistic about the strength of China&#8217;s recovery but are expecting to see solid improvement in the U.S.</p>
<p>In Washington, remarks by <span class="yshortcuts" id="lw_1369027473223_1">Federal Reserve Chairman Ben Bernanke</span> to members of Congress on Wednesday will be closely examined for hints about the future direction of the central bank&#8217;s monetary policy.</p>
<p>The Fed is currently conducting the third round of massive bond purchases known as <span class="yshortcuts" id="lw_1369027473223_3">quantitative easing</span> to help drive down interest rates and spur lending. But recently improving data on the U.S. economy has led to speculation that the Fed might consider winding the program down earlier than expected.</p>
<p>&#8220;What everyone is watching for is any comment from the Fed chief on asset purchases or any clarification on current thinking,&#8221; said <span class="yshortcuts" id="lw_1369027473223_6">Mitul Kotecha</span> of Credit Agricole CIB in Hong Kong. &#8220;The timing of any decision on winding down asset purchases is still very much undecided so it seems unlikely Bernanke will be categorical or provide strong timing about a reduction&#8221; in quantitative easing.</p>
<p>HSBC&#8217;s survey on China&#8217;s manufacturing growth, to be released Thursday, is also highly anticipated. Analysts at Credit Agricole are expecting a slight deceleration due to seasonal factors, from 50.4 in April to 50.3 in May.</p>
<p>&#8220;More signs of weakness will add to global growth worries. I think markets are particularly sensitive to this data release,&#8221; Kotecha said.</p>
<p>Benchmarks in mainland China and Indonesia rose. Taiwan&#8217;s fell.</p>
<p>Wall Street stocks again pushed higher Friday after the Conference Board said its index of leading economic indicators rose 0.6 percent last month after a revised decline of 0.2 percent in March. The index is intended to predict how the economy will be doing in three to six months. Separately, the University of Michigan&#8217;s preliminary survey of consumer confidence climbed to 83.7. Economists had predicted that the gauge would climb to 76.8.</p>
<p>The Dow Jones industrial average rose 0.8 percent to close at 15,354.40. The Standard &#038; Poor&#8217;s 500 index gained 1 percent, to 1,666.12. The Nasdaq composite index rose 1 percent to 3,498.97.</p>
<p>Benchmark oil for June delivery was down 14 cents at $95.88 a barrel in electronic trading on the New York Mercantile Exchange.</p>
<p>In currencies, the euro rose to $1.2845 from $1.2829 late Friday in New York. The dollar fell to 102.64 yen from 103.18 yen.</p>
<p>___</p>
<p>Follow Pamela Sampson on Twitter at http://twitter.com/pamelasampson</p>
</p></div>
<p> <!-- google_ad_section_end --></p>
]]></content:encoded>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>World stocks rise on signs of steady US recovery</title>
		<link>http://www.sharonastyk.com/currency-trading/world-stocks-rise-on-signs-of-steady-us-recovery/</link>
		<comments>http://www.sharonastyk.com/currency-trading/world-stocks-rise-on-signs-of-steady-us-recovery/#comments</comments>
		<pubDate>Mon, 20 May 2013 19:23:04 +0000</pubDate>
		<dc:creator>Sharon</dc:creator>
				<category><![CDATA[Currency Trading]]></category>

		<guid isPermaLink="false">http://www.sharonastyk.com/?p=53</guid>
		<description><![CDATA[BANGKOK (AP) — Evidence of a steady economic recovery in the U.S. helped push world stock markets higher Monday. A gauge of future economic activity issued Friday rose more than expected, a sign that the world&#8217;s biggest economy is improving. Consumer confidence also rose, offsetting several lackluster reports on slowing manufacturing and an increase in <a href="http://www.sharonastyk.com/currency-trading/world-stocks-rise-on-signs-of-steady-us-recovery/">Continue reading &#8594;</a>]]></description>
				<content:encoded><![CDATA[<p><!-- google_ad_section_start -->
<div class="entry-content">
<p class="first">BANGKOK (AP) — Evidence of a steady <span class="yshortcuts" id="lw_1369041123400_5">economic recovery</span> in the U.S. helped push <span class="yshortcuts" id="lw_1369041123400_2">world stock markets</span> higher Monday.</p>
<p>A gauge of future economic activity issued Friday rose more than expected, a sign that the world&#8217;s biggest economy is improving. <span class="yshortcuts" id="lw_1369041123400_3">Consumer confidence</span> also rose, offsetting several lackluster reports on slowing manufacturing and an increase in applications for unemployment benefits.<span id="more-53"></span></p>
<p>Britain&#8217;s FTSE 100 rose 0.7 percent to 6,735.31. Germany&#8217;s DAX gained 0.5 percent to 8,440.38. France&#8217;s CAC-40 advanced 0.3 percent to 4,012.55. <span class="yshortcuts" id="lw_1369041123400_6">Wall Street</span> looked set for a flat opening, however. Dow Jones industrial futures were nearly unchanged at 15,316. S&#038;P 500 futures were flat at 1,663.10.</p>
<p><span class="yshortcuts" id="lw_1369041123400_4">Asian stock markets</span> were broadly higher. Japan&#8217;s Nikkei 225 index jumped 1.5 percent to 15,360.81. Hong Kong&#8217;s Hang Seng surged 1.8 percent to 23,493.03. Australia&#8217;s S&#038;P/ASX 200 advanced 0.5 percent to 5,209. Benchmarks in mainland China, Taiwan, and Indonesia also rose. South Korea&#8217;s Kospi fell 0.2 percent to 1,982.43.</p>
<p>Investors will have a slew of data to sift through this week, including U.S. homes sales and durable goods orders. Analysts are somewhat pessimistic about the strength of China&#8217;s recovery but are expecting to see solid improvement in the U.S.</p>
<p>In Washington, remarks by <span class="yshortcuts" id="lw_1369041123400_1">Federal Reserve Chairman Ben Bernanke</span> to members of Congress on Wednesday will be closely examined for hints about the future direction of the central bank&#8217;s monetary policy.</p>
<p>The Fed is currently conducting the third round of massive bond purchases known as quantitative easing to help drive down interest rates and spur lending. But recently improving data on the U.S. economy has led to speculation that the Fed might consider winding the program down earlier than expected.</p>
<p>&#8220;What everyone is watching for is any comment from the Fed chief on asset purchases or any clarification on current thinking,&#8221; said Mitul Kotecha of Credit Agricole CIB in Hong Kong. &#8220;The timing of any decision on winding down asset purchases is still very much undecided so it seems unlikely Bernanke will be categorical or provide strong timing about a reduction&#8221; in quantitative easing.</p>
<p>HSBC&#8217;s survey on China&#8217;s manufacturing growth, to be released Thursday, is also highly anticipated. Analysts at Credit Agricole are expecting a slight deceleration due to seasonal factors, from 50.4 in April to 50.3 in May.</p>
<p>&#8220;More signs of weakness will add to global growth worries. I think markets are particularly sensitive to this data release,&#8221; Kotecha said.</p>
<p>Wall Street stocks again pushed higher Friday after the Conference Board said its index of leading economic indicators rose 0.6 percent last month after a revised decline of 0.2 percent in March. The index is intended to predict how the economy will be doing in three to six months. Separately, the University of Michigan&#8217;s preliminary survey of consumer confidence climbed to 83.7. Economists had predicted that the gauge would climb to 76.8.</p>
<p>Benchmark oil for June delivery was down 57 cents at $95.45 a barrel in electronic trading on the New York Mercantile Exchange.</p>
<p>In currencies, the euro rose to $1.2846 from $1.2829 late Friday in New York. The dollar fell to 102.54 yen from 103.18 yen.</p>
<p>___</p>
<p>Follow Pamela Sampson on Twitter at http://twitter.com/pamelasampson</p>
</p></div>
<p> <!-- google_ad_section_end --></p>
]]></content:encoded>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Factbox: Key players in the IRS scandal</title>
		<link>http://www.sharonastyk.com/tax-services/factbox-key-players-in-the-irs-scandal/</link>
		<comments>http://www.sharonastyk.com/tax-services/factbox-key-players-in-the-irs-scandal/#comments</comments>
		<pubDate>Sat, 18 May 2013 08:15:03 +0000</pubDate>
		<dc:creator>Sharon</dc:creator>
				<category><![CDATA[Tax Services]]></category>

		<guid isPermaLink="false">http://www.sharonastyk.com/?p=52</guid>
		<description><![CDATA[WASHINGTON (Reuters) &#8211; Three congressional committees and the Department of Justice are investigating the Internal Revenue Service&#8216;s scrutiny of conservative groups seeking tax-exempt status as the scandal distracts from President Barack Obama&#8216;s second-term agenda. Below are some of the major players in the backlash over the IRS paying extra attention to advocacy groups whose names <a href="http://www.sharonastyk.com/tax-services/factbox-key-players-in-the-irs-scandal/">Continue reading &#8594;</a>]]></description>
				<content:encoded><![CDATA[<p><!-- google_ad_section_start -->
<p class="first">WASHINGTON (Reuters) &#8211; Three congressional committees and the Department of Justice are investigating the <span class="yshortcuts" id="lw_1368825084381_2">Internal Revenue Service</span>&#8216;s scrutiny of <span class="yshortcuts" id="lw_1368825084381_4">conservative groups</span> seeking tax-exempt status as the scandal distracts from President <span class="yshortcuts" id="lw_1368825084381_1">Barack Obama</span>&#8216;s second-term agenda.<span id="more-52"></span></p>
<p> Below are some of the major players in the backlash over the IRS paying extra attention to advocacy groups whose names included terms such as &#8220;patriot&#8221; or &#8220;Tea Party&#8221; when considering applications for tax-exempt status.</p>
<p> * <span class="yshortcuts" id="lw_1368825084381_3">Steven Miller</span> &#8211; The acting head of the Internal Revenue Service while the scandal unfolded. He was fired from the post on Wednesday after an internal IRS report found that poor management, and not partisan politics, led to an &#8220;inappropriate&#8221; focus on conservative groups starting in 2010. The IRS has acknowledged Miller knew about the targeting of conservative groups in 2012 but did not disclose the practice. He was the former deputy <span class="yshortcuts" id="lw_1368825084381_5">IRS commissioner</span> for services and enforcement and had been at the agency for more than 25 years.</p>
<p> At a House of Representatives hearing on Friday, Miller apologized for &#8220;foolish mistakes&#8221; made at the IRS and said they resulted from a heavy workload. He leaves the agency in June.</p>
<p> * <span class="yshortcuts" id="lw_1368825084381_8">Douglas Shulman</span> &#8211; IRS commissioner before Miller took over in the acting capacity in November 2012. A Democrat, he was appointed to the post under Republican President George W. Bush in 2008.</p>
<p> In March 2012, Shulman told lawmakers that IRS personnel applied no extra scrutiny to conservative groups, although the new report from the Treasury Inspector General for Tax Administration (<span class="yshortcuts" id="lw_1368825084381_7">TIGTA</span>) said that Miller knew of the targeting as early as March 8, 2012.</p>
<p> Congressional leaders sent letters to Shulman inquiring about IRS targeting as early as June 2011. According to the inspector general, the IRS&#8217;s Determinations Unit began targeting conservative groups in March or April of 2010.</p>
<p> * Danny Werfel &#8211; the White House budget official selected by Obama to replace Miller as acting IRS chief on May 22.</p>
<p> The <span class="yshortcuts" id="lw_1368825084381_9">Obama administration</span>&#8216;s point man in overseeing the &#8220;sequestration&#8221; budget cuts, he will now tackle the IRS scandal.</p>
<p> * Lois Lerner &#8211; director of the IRS&#8217;s tax-exempt division who broke the news of the scandal on May 10 at an American Bar Association function when she publicly apologized for the discriminatory practices. The admission came just days after she testified in Congress but did not mention it. According to the inspector general, Lerner learned about the targeting as early as June 29, 2011.</p>
<p> Lawmakers have called for her removal from the IRS.</p>
<p> Miller on Friday acknowledged that the scandal-exposing question-and-answer session had been planned.</p>
<p> * Joseph Grant &#8211; IRS acting commissioner of tax exempt/government entities division at the center of the scandal. On Thursday he announced plans to retire on June 3 after joining the IRS in 2005. He took over the reins of the tax exempt division in late 2010 and Lerner worked under him.</p>
<p> * Sarah Hall Ingram &#8211; Preceded Grant as head of the IRS&#8217;s tax-exempt division when the targeting of conservative groups began. Since December 2010, she has headed up the IRS division handling Obama administration&#8217;s healthcare reform.</p>
<p> * <span class="yshortcuts" id="lw_1368825084381_6">William Wilkins</span> &#8211; IRS chief counsel who is an Obama political appointee. He is the top legal adviser and takes the lead on all litigation involving the IRS. His office, although not necessarily Wilkins personally, knew of the targeting as early as August 2011, according to TIGTA. The IRS said Wilkins did not participate in the August 2011 meeting, which the agency said involved &#8220;staff attorneys several layers below Wilkins.&#8221;</p>
<p> * J. Russell George &#8211; Treasury Department inspector general for tax administration. Investigated the complaints against the IRS and issued the public report on targeting of conservative groups. The IRS is an arm of the Treasury Department and lawmakers at the hearings are scrutinizing George for not issuing warnings about the practice earlier.</p>
<p> * IRS&#8217;s Cincinnati field office employees &#8211; oversaw the reviews of tax-exempt applications. According to TIGTA, the Ohio unit set its own criteria for checking tax-exempt groups in the absence of clear guidance from more senior officials.</p>
<p> Republican lawmakers have named five workers they hope to bring in for questioning: Holly Paz, Washington-based director of rulings and agreements for the tax exempt division; Greg Muthert, a veteran Cincinnati office worker; Joseph Herr and Elizabeth Hofacre, who were cited by some Tea Party groups as handling their tax-exempt applications; and John Shafer, whom lawmakers described as &#8220;screening group manager.&#8221;</p>
<p> A congressional aide said the five workers were chosen based on a timeline from the TIGTA report that listed the job roles involved in the activity. It was unclear whether these employees had any role in any wrongdoing.</p>
<p> * President Barack Obama &#8211; has said he was not aware of the ongoing practice, calling it intolerable and inexcusable. His Press Secretary Jay Carney said the White House Counsel was notified of the IRS&#8217;s targeting during the week of April 22.</p>
<p> Obama has appeared multiple times in public to condemn the IRS&#8217;s actions and has promised to cooperate with congressional investigations and a Justice Department probe, but he has not demanded a special prosecutor look into the allegations.</p>
<p> * Representative Dave Camp &#8211; Republican chairman of the House Ways and Means Committee that is investigating the matter. On June 3, 2011, he sent a letter to then-Commissioner Shulman, inquiring about IRS targeting of taxpayers who donated to conservative groups and audits of tax-exempt organizations. The IRS then halted reviews of any tax-exempt groups but never addressed targeting concerns.</p>
<p> * Representative Darrell Issa &#8211; Republican chairman of the Oversight and Government Reform Committee also conducting an investigation. He is seeking interviews with five IRS employees to learn more about the tax-exempt reviews.</p>
<p> * Senator Max Baucus &#8211; Democratic chairman of the Senate Finance Committee, who said his tax code revamp will examine rules for nonprofit group&#8217;s political activities in hopes of preventing such scandals in the future.</p>
<p> (Reporting by Alina Selyukh; editing by Jackie Frank)</p>
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		<title>Brent slips, stays below $104 on demand worries, firm dollar</title>
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		<pubDate>Fri, 17 May 2013 09:26:03 +0000</pubDate>
		<dc:creator>Sharon</dc:creator>
				<category><![CDATA[Currency Trading]]></category>

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		<description><![CDATA[By Manash Goswami SINGAPORE (Reuters) &#8211; Brent futures slipped on Friday, staying below $104 as bleak U.S. economic data revived worries about demand growth in the world&#8217;s biggest oil consumer, while a stronger dollar also pressured prices. Barring news on major supply disruption, the dollar will be a key driver for oil with investors increasingly <a href="http://www.sharonastyk.com/currency-trading/brent-slips-stays-below-104-on-demand-worries-firm-dollar/">Continue reading &#8594;</a>]]></description>
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<p class="first">By Manash Goswami</p>
<p> SINGAPORE (Reuters) &#8211; <span class="yshortcuts" id="lw_1368772604066_2">Brent</span> futures slipped on Friday, staying below $104 as bleak U.S. economic data revived worries about demand growth in the world&#8217;s biggest oil consumer, while a stronger dollar also pressured prices.</p>
<p> Barring news on major supply disruption, the dollar will be a key driver for oil with investors increasingly expecting the greenback&#8217;s recent surge to peter out.<span id="more-51"></span></p>
<p> Brent slipped 5 cents to $103.73 a barrel by 0552 GMT. It is expected to end the week mostly unchanged. U.S. oil was up 18 cents at $95.34, after settling up 86 cents, but was on track to end a three-week winning run.</p>
<p> &#8220;The dollar will influence oil quite a bit over the next few sessions because at some point it will start to weaken as it has strengthened too much in recent days,&#8221; said <span class="yshortcuts" id="lw_1368772604066_3">Tetsu Emori</span>, a commodities sales manager at Astmax Investments in Tokyo.</p>
<p> &#8220;All U.S. economic indications in the last few days have been weak and that is raising doubts about demand.&#8221;</p>
<p> The U.S. economy showed fresh signs of slowing in the second quarter, with factory activity slipping in the mid-Atlantic region while groundbreaking declined at home construction sites.</p>
<p> POLICY DOVE</p>
<p> The strong dollar and a weak outlook for demand will keep Brent trading in a $103 to $105 range next week, while the U.S. contract will swing between $95 and $98, Emori said.</p>
<p> The dollar held firm near a 10-month high against a basket of major currencies on Friday after a regional Fed chief, long seen as a policy dove, said the Fed could begin easing up on stimulus this summer and end it late this year.</p>
<p> A firm dollar pressures oil as its strength makes commodities more expensive for holders of other currencies.</p>
<p> Brent has risen about $7 from the low of under $97 for the year touched on April 18. The U.S. contract has gained nearly $10 since the 2013 low of $85.61 was touched on the same day.</p>
<p> The difference between the U.S. benchmark and Brent widened beyond $10 per barrel for the first time since May 7 in the previous session, and was at about $8 on Friday. It hit a 2013 low of $7.20 earlier this week.</p>
<p> However, uncertainty over political tensions in the Middle East cushioned <span class="yshortcuts" id="lw_1368772604066_1">oil prices</span>, with Russia&#8217;s foreign minister saying Iran must take part in a proposed international conference to try to end Syria&#8217;s civil war.</p>
<p> Charts show that Brent is expected to drop to $102.42 as it failed to break a resistance at $104.13, while U.S. oil is expected to revisit its Thursday low of $93.23, said Reuters technical analyst Wang Tao.</p>
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		<title>Tired of economic crisis, Sudanese pack up to try their luck abroad</title>
		<link>http://www.sharonastyk.com/currency-trading/tired-of-economic-crisis-sudanese-pack-up-to-try-their-luck-abroad/</link>
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		<pubDate>Thu, 16 May 2013 02:35:03 +0000</pubDate>
		<dc:creator>Sharon</dc:creator>
				<category><![CDATA[Currency Trading]]></category>

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		<description><![CDATA[By Ulf Laessing KHARTOUM (Reuters) &#8211; In a cramped government office in Khartoum, engineer Ahmed Taha and dozens of other Sudanese, lured by local newspaper adverts for jobs in the Gulf, sit waiting to get a permit to leave the country and work abroad. &#8220;I&#8217;ve had enough of Sudan and will go to Saudi Arabia,&#8221; <a href="http://www.sharonastyk.com/currency-trading/tired-of-economic-crisis-sudanese-pack-up-to-try-their-luck-abroad/">Continue reading &#8594;</a>]]></description>
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<p class="first">By Ulf Laessing</p>
<p> KHARTOUM (Reuters) &#8211; In a cramped government office in Khartoum, engineer <span class="yshortcuts" id="lw_1368627473643_8">Ahmed Taha</span> and dozens of other Sudanese, lured by local newspaper adverts for jobs in the <span class="yshortcuts" id="lw_1368627473643_6">Gulf</span>, sit waiting to get a permit to leave the country and work abroad.</p>
<p> &#8220;I&#8217;ve had enough of <span class="yshortcuts" id="lw_1368627473643_4">Sudan</span> and will go to <span class="yshortcuts" id="lw_1368627473643_1">Saudi Arabia</span>,&#8221; said Taha. &#8220;I am so tired of this country, the (economic) crisis, the corruption.&#8221;<span id="more-50"></span></p>
<p> Taha, who has been working in an office accounts department for two years because he could not find a professional post, has just been hired as an engineer by a construction firm in Saudi Arabia &#8211; a move that will increase his salary sevenfold to 2,500 Saudi riyals ($670) a month.</p>
<p> &#8220;I also want to find my wife a job as a teacher in Saudi Arabia because she makes only 600 (Sudanese) pounds ($95) a month here. We cannot live on our salaries.&#8221;</p>
<p> Like thousands of other Sudanese, Taha is escaping a country gripped by economic crisis since losing 75 percent of its oil production, its lifeline, when <span class="yshortcuts" id="lw_1368627473643_3">South Sudan</span> seceded in July 2011.</p>
<p> Analysts estimate unemployment is running at between 20 and 30 percent, although there is no official data.</p>
<p> Annual inflation topped 41 percent in April and the Sudanese pound has more than halved in value against the dollar since South Sudan&#8217;s independence, making life unbearable for many.</p>
<p> Nearly 95,000 Sudanese, from laborers to teachers, nurses and engineers, left the country last year compared to only 10,032 in 2008, according to official data. Some analysts say the number is even higher because travel movements are hard to monitor.</p>
<p> Net migration contrasts with some other African countries, including South Sudan, that are seeing skilled professionals return home as the continent&#8217;s economic development and increasing foreign investment create career opportunities.</p>
<p> For Sudan, struggling with a high budget deficit and a shortage of foreign currency needed to pay for imports, migration has economic benefits.</p>
<p> The World Bank estimates migrant workers remitted $1.13 billion to Sudan last year, up from $442 million in 2011. That helped to offset the country&#8217;s goods and services trade deficit, estimated at $6.7 billion by the International Monetary Fund.</p>
<p> The exodus of workers should also help reduce unemployment. A prolonged &#8220;brain drain&#8221; of professionals, however, would put further pressure on the country&#8217;s deteriorating public services, adding to the country&#8217;s economic problems.</p>
<p> &#8220;We are suffering under the economic hardship,&#8221; said Omar El Fadli, who left Sudan in 1974 to study in Britain and then worked in France and the United States before coming back in 2005 to buy a restaurant in central Khartoum.</p>
<p> &#8220;To be honest with you we have been trying to sell (the restaurant) for over two years &#8230; It&#8217;s not profitable anymore.&#8221;</p>
<p> At the visa office in Khartoum, women in dark blue robes, representatives from government-approved employment agencies, are on hand to help applicants fill in the required paperwork.</p>
<p> &#8220;We sort out the paperwork for doctors going to the Gulf, especially Saudi Arabia which is requesting a large number of <span class="yshortcuts" id="lw_1368627473643_7">Sudanese doctors</span> to work there,&#8221; says Hamda Kassem, one of the employment agency staff.</p>
<p> While the <span class="yshortcuts" id="lw_1368627473643_5">Sudanese government</span> allows labor agencies to arrange work contracts for doctors heading to the Gulf, a government-commissioned study published in January also expressed concern about the exodus of healthcare professionals.</p>
<p> DOCTORS LEAVING</p>
<p> More than 6,000 Sudanese doctors left for Saudi Arabia alone between 2009 and 2012, according to the government study, commissioned to assess the reasons for migration. Around another 1,000 doctors have gone to Libya since the ousting of ruler Muammar Gaddafi in 2011, it says.</p>
<p> That is leaving health services in Sudan vulnerable as countries in the Gulf and elsewhere snap up the country&#8217;s leading specialists. Newspaper reports of patients dying in Sudan hospitals after being misdiagnosed by ill-qualified doctors are not uncommon.</p>
<p> &#8220;There is a very bad effect on medical services,&#8221; the government study says. &#8220;The emigration to Saudi Arabia will result in the loss of specialists which will be felt directly &#8230; in the provinces.&#8221;</p>
<p> Sudanese medical colleges pump out up to 4,000 doctors annually but some colleges use textbooks that are more than 10 years old and have no surgical equipment.</p>
<p> The study forecasts that emigration from Sudan will continue to increase in the next few years due to economic, social, security and political reasons.</p>
<p> Sudan has for been plagued by insurgencies. Long confined to remote regions such as Darfur, rebels struck a central region last month, triggering fears they might attack Khartoum again like in 2008.</p>
<p> Few Western engineering firms operate in Sudan due to a U.S. embargo in place since 1997, making the country reliant on mostly Chinese companies to build infrastructure and they tend to import their own workers.</p>
<p> Sudanese government efforts to combat unemployment by hiring more young people for public sector jobs and starting infrastructure projects have been hampered by the budget crisis.</p>
<p> Young people complain that corruption also makes it hard to find work &#8211; jobs in the public sector, the biggest employer, often go to people with the right connections, known as wasta, they say.</p>
<p> &#8220;You cannot find a job without wasta,&#8221; said Hisham Hassan, who graduated in civil engineering from the Sudanese university of Atbara in 2008 but has yet to find work.</p>
<p> &#8220;I can&#8217;t afford to get married or anything,&#8221; he said after receiving his exit permit at the visa office.</p>
<p> He has landed a job at a Saudi builder paying him a monthly salary of 3,000 riyals &#8211; in Qassim, one of the most conservative regions of <span class="yshortcuts" id="lw_1368627473643_2">Saudi Arabia</span>. &#8220;It will be fine. I have no choice anyway,&#8221; he said.</p>
<p> Concerns about personal freedom in <span class="yshortcuts" id="lw_1368627473643_9">Sudan</span> are also encouraging emigration. Security agents have cracked down hard on small street protests organized mainly by students dreaming of an &#8220;Arab spring&#8221;. Divisions in the weak opposition and the army&#8217;s support for President Omar Hassan al-Bashir mean Sudan has avoided the uprisings seen in Egypt or Tunisia.</p>
<p> SUDANESE SKILLS</p>
<p> Sudanese professionals have a tradition of going overseas to gain experience and make money. In the 1960s and 70s, they flocked to the Gulf as those economies took off.</p>
<p> Opportunities dried up after the 1991 Gulf war when President Bashir failed to back the U.N.-led military operation to end Saddam Hussein&#8217;s occupation of Kuwait. In retaliation, Gulf countries deported thousands of Sudanese once Kuwait was liberated.</p>
<p> With governments in the Gulf spending billions of dollars on roads, schools and universities again, Sudanese are back in demand although prospects in Saudi are dampened by a crackdown on illegal workers and policies to replace foreigners with locals.</p>
<p> Sudanese are also looking further afield. At the Goethe Institute in Khartoum, run by the German government, there&#8217;s a waiting list of up to three months to enrol in German classes.</p>
<p> Ahmed Shamun is making a living from the rise in migration. Having worked in Abu Dhabi as an English translator for 13 years, he returned in 1993 and now runs an employment agency in Khartoum, fixing up Sudanese with jobs in the Gulf. Yet, he still laments the trend.</p>
<p> &#8220;It&#8217;s not just doctors or engineers leaving, most of them are workers,&#8221; he said, sitting in his small office next to a travel agent selling air tickets to Saudi Arabia.</p>
<p> &#8220;I don&#8217;t like it but what else can young people do? There are no jobs here.&#8221;</p>
<p> ($1 = 3.7502 Saudi riyals)</p>
<p> (Editing by Susan Fenton)</p>
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		<title>Best Reason Why People Ought To Be Careful About Taking A Loan</title>
		<link>http://www.sharonastyk.com/personal-loans/best-reason-why-people-ought-to-be-careful-about-taking-a-loan/</link>
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		<pubDate>Wed, 15 May 2013 18:33:03 +0000</pubDate>
		<dc:creator>Sharon</dc:creator>
				<category><![CDATA[Personal Loans]]></category>
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		<description><![CDATA[Although loans are solutions during difficult financial times, most people neglect to take forethoughts prior to signing the commitment. Unable to comprehend the implications of taking a personal unsecured loan usually puts individuals poverty and can make anyone to strain something useful. Since loans must be cleared within set durations, you have to be concise <a href="http://www.sharonastyk.com/personal-loans/best-reason-why-people-ought-to-be-careful-about-taking-a-loan/">Continue reading &#8594;</a>]]></description>
				<content:encoded><![CDATA[<p><img class="alignright" width="150" height="156" alt="" src="http://www.sharonastyk.com/wp-content/uploads/2013/05/1428118-cash-free.jpg" title="cash free">
<p>Although loans are solutions during difficult financial times, most people neglect to take forethoughts prior to signing the commitment. Unable to comprehend the implications of taking a personal unsecured loan usually puts individuals poverty and can make anyone to strain something useful. Since loans must be cleared within set durations, you have to be concise and clear about borrowing loans. Making the correct decisions will assist you to in setting your future financial targets without worries. The following are the top things you should know before you take financing.</p>
<p>To start with, you need to ask whether you will need the credit or it is to make the wallet fatter. Should you not use a justifiable reason that are used for taking a loan, then you&#8217;ve got to let it sit because it could be stressing if you are paying back. Some individuals take loans without certainty of what to do which is dangerous. For those who have an excuse when planning on taking a loan, it&#8217;s okay but if you do not have, just try to keep from the temptation.</p>
<p>Additionally, it&#8217;s essential must yourself whether you are effective at repaying the credit soon enough. If your wages is not large enough in order to the loan with time, you don&#8217;t to accept personal bank loan. This can constrain you in doing other things in future. If as an example you&#8217;re taking ca loan to get a trip, you may find themselves in trouble make payment on cashback.</p>
<p>The duration to settle is yet another crucial point out consider when going for a loan. Clearing loans as soon as possible is a method of managing finances and a chance to manage our financial life. Loans, which are really easy to clear off, are better than loans that will give you decades to stay. You have to be clear about the possibilities.</p>
<p>Moreover, people do not take into account the consequences of failing to pay the borrowed funds in time. If you are not careful, you could possibly wind up choosing a loan that can make one to lose your premises. It is advisable to take a <i>loan</i> you are aware certainly that you can clear.</p>
<p>Further, you need to consider whether you can afford high-priced product for less money as an alternative to taking big loans, which are not an easy task to service. As an illustration, should you be getting a car worth 8,000 dollars, that can be done research and find out whether you may get a cheaper car of high quality. Taking huge loans to acquire liabilities can give you financial strains and perchance bankruptcy.</p>
<p>Some loans adverts are luring and so they look too good for clients. You may notice the good quotes, you may be motivated to try to get the borrowed funds only to realize that you&#8217;ve made a big mistake that can include hassles in the future. It&#8217;s good to understand all details before you apply.</p>
<p>You&#8217;ll find companies, which not clarify the interest rates that they charge on loans and if you&#8217;re finding a personal unsecured <b>loan</b>, you have to be careful in regards to the applicable interest levels. In the event you don&#8217;t have the knowledge about the eye rates, you could be surprised when you will have to pay over you would expect.</p>
<p>Small print info is very crucial before easy since there is a chance of missing the purpose when having a loan. You&#8217;ll want to clarify every place and make sure that you understand all the points before using any loan.</p>
<p>The pattern of payment is very crucial when applying that <a href="http://earlypayday.com.sg/singapore-money-lenders/loan/" target="_blank">loan</a>. You&#8217;ll want to realize the distribution of the loans repayment. Some companies could have ineffective repayment patterns which will be an excellent issue in managing your financial life. It is good to learn how much premiums applicable before taking the credit.</p>
<p>The security of your job is the one other thing you have to look at when thinking about a personal unsecured loan. Discover permanently employed, you might have problems when clearing the credit timely. It&#8217;s good to analyze your job security and ask yourself what direction to go in case you lost the work along with that loan.</p>
<p>Loans are fantastic as they assist you in salvaging abrupt financial needs. However, it&#8217;s good to understand the potential risks as well as the implications involved when securing an unsecured loan. It is good to have multiple kind of repaying in case one fails.<span id="more-48"></span></p>
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		<title>Firm dollar hits oil, gold, shares; Nikkei scales new peak</title>
		<link>http://www.sharonastyk.com/currency-trading/firm-dollar-hits-oil-gold-shares-nikkei-scales-new-peak/</link>
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		<pubDate>Wed, 15 May 2013 05:11:03 +0000</pubDate>
		<dc:creator>Sharon</dc:creator>
				<category><![CDATA[Currency Trading]]></category>

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		<description><![CDATA[By Chikako Mogi TOKYO (Reuters) &#8211; Oil and gold prices fell on Monday as the dollar strengthened, weighing on Asian shares, but Japanese equities outperformed on the back of the yen&#8217;s slide to a fresh 4-1/2-year low against the U.S. currency. European stock markets are seen narrowly mixed after the pan-European FTSEurofirst 300 index closed <a href="http://www.sharonastyk.com/currency-trading/firm-dollar-hits-oil-gold-shares-nikkei-scales-new-peak/">Continue reading &#8594;</a>]]></description>
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<p class="first">By Chikako Mogi</p>
<p> TOKYO (Reuters) &#8211; Oil and <span class="yshortcuts" id="lw_1368427911527_2">gold prices</span> fell on Monday as the dollar strengthened, weighing on Asian shares, but Japanese equities outperformed on the back of the yen&#8217;s slide to a fresh 4-1/2-year low against the <span class="yshortcuts" id="lw_1368427911527_4">U.S.</span> currency.</p>
<p> European stock markets are seen narrowly mixed after the pan-European FTSEurofirst 300 index closed at a five-year high on Friday, with financial spreadbetters predicting London&#8217;s FTSE 100, Paris&#8217;s CAC-40 and Frankfurt&#8217;s DAX would open between a 0.2 percent rise and a 0.1 percent drop.<span id="more-46"></span></p>
<p> U.S. <span class="yshortcuts" id="lw_1368427911527_3">stock futures</span> were down 0.3 percent, pointing to a weak Wall Street open, after the Dow Jones industrial average and the Standard &#038; Poor&#8217;s 500 Index ended at record highs on Friday.</p>
<p> &#8220;A strength in the dollar is weighing on commodities across the board,&#8221; said Ben Le Brun, analyst at OptionsXpress in Sydney. &#8220;For oil, worries of ample supplies is putting pressure. We have unprecedented levels of stockpiles in the United States, with uncertainty surrounding economic growth.&#8221;</p>
<p> U.S. crude futures slipped 0.8 percent to $95.23 a barrel and Brent dropped 0.7 percent to $103.16.</p>
<p> The dollar&#8217;s strong performance also took the shine off gold, which typically serves as an alternative to the U.S. currency. Spot gold fell as much as 1.5 percent to a session low of $1,426.40 an ounce.</p>
<p> Investors were cautious ahead of China&#8217;s data. China&#8217;s industrial output in April grew 9.3 percent from a year earlier and its fixed-asset investment grew 20.6 percent from a year ago, both slightly below expectations. Retail sales in April rose 12.8 percent from a year earlier, matching forecasts.</p>
<p> The yen slid to a fresh 4-1/2-year low against the dollar of 102.15 yen in Asia on Monday morning, having earlier hit its highest point since January 2010 against the euro at 132.385. The <span class="yshortcuts" id="lw_1368427911527_5">yen</span> last traded at 101.70 against the dollar.</p>
<p> The drop in commodities prices weighed on the Australian dollar, which traded around $0.9987 after hitting an 11-month low of $0.9961 on Friday.</p>
<p> The dollar was also underpinned against the yen after <span class="yshortcuts" id="lw_1368427911527_1">Japan</span> avoided criticism from its peers for pursuing bold reflationary policies which have resulted in a steady decline in the Japanese currency. A weaker yen improves earnings prospects for exporters and underpins the export-reliant Japanese economy.</p>
<p> Group of Seven finance officials agreed on Saturday to redouble efforts to deal with failing banks and gave a green light to Japan&#8217;s drive to galvanise its economy.</p>
<p> Having urged Tokyo for years to do something to revive its economy, other world powers are not in a position to complain now that it is doing so. Also, the Federal Reserve and Bank of England have printed money in the way the Bank of Japan is now.</p>
<p> &#8220;If international peers criticise the yen&#8217;s weakness, investors who are on the nervous side could stop chasing the market higher. Now, such concerns are receding,&#8221; said Kenichi Hirano, a strategist at Tachibana Securities.</p>
<p> The Nikkei stock average scaled a fresh peak since January 2008 of 14,849.01, rising as much as 1.7 percent.</p>
<p> MSCI&#8217;s broadest index of Asia-Pacific shares outside Japan shed 0.8 percent. Hong Kong shares led the decline with a 1 percent drop as Ping An Insurance fell sharply after a three-month ban was imposed on its brokerage unit for helping list a fraudulent Chinese company.</p>
<p> Australian shares were down 0.3 percent after closing at a five-year high on Friday, while South Korean shares held in a tight range, capped by the yen&#8217;s weakness which erodes the competitiveness of Korean exporters.</p>
<p> U.S. labour market data has pointed to a steady recovery trend in the world&#8217;s largest economy, boosting the dollar and fuelling speculation that the Federal Reserve could scale back its aggressive monetary stimulus aimed at supporting growth.</p>
<p> Investors were keeping an eye on the U.S. retail sales due later on Monday.</p>
<p> &#8220;U.S. retail sales &#8230; is always going to be important as it highlights the health of the consumer and the potential to feed into expectations of inflation and also potential job creation,&#8221; Chris Weston, chief market strategist at IG markets, said in a note to clients.</p>
<p> U.S. Treasuries extended losses in Asia, with benchmark 10-year yields rising to 1.93 percent from around 1.895 percent on Friday.</p>
<p> Japanese government bond prices tumbled, hurt by the Nikkei&#8217;s rally and also tracking U.S. bonds lower, with the 10-year JGB yield hitting a three-month high of 0.750 percent and benchmark JGB futures shedding a full point to their lowest in a year.</p>
<p> Elsewhere, removing a potential source of political instability in the Asian region, Pakistan&#8217;s Nawaz Sharif, toppled in a 1999 military coup, has made a comeback over the weekend election, eyeing to form a government to implement reforms needed to rescue the fragile economy.</p>
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		<title>CA-BUSINESS Summary</title>
		<link>http://www.sharonastyk.com/currency-trading/ca-business-summary/</link>
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		<pubDate>Tue, 14 May 2013 01:28:03 +0000</pubDate>
		<dc:creator>Sharon</dc:creator>
				<category><![CDATA[Currency Trading]]></category>

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		<description><![CDATA[Asian shares ease, yen hits fresh lows against dollar TOKYO (Reuters) &#8211; Asian shares eased on Monday with sentiment hit by selling in commodities triggered by a strong dollar, which rose to a fresh 4-1/2-year peak against the yen on the back of growing confidence in the U.S. economy. Losses in shares were likely to <a href="http://www.sharonastyk.com/currency-trading/ca-business-summary/">Continue reading &#8594;</a>]]></description>
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<p class="first">Asian shares ease, yen hits fresh lows against dollar</p>
<p> TOKYO (Reuters) &#8211; Asian shares eased on Monday with sentiment hit by selling in commodities triggered by a strong dollar, which rose to a fresh 4-1/2-year peak against the yen on the back of growing confidence in the <span class="yshortcuts" id="lw_1368404944005_3">U.S.</span> economy. Losses in shares were likely to be limited after U.S. stocks rallied to record highs on Friday.<span id="more-45"></span></p>
<p> Analysis: <span class="yshortcuts" id="lw_1368404944005_1">Google</span>+ struggles to attract brands, some neglect to update</p>
<p> SAN FRANCISCO (Reuters) &#8211; To mark the Cinco de Mayo holiday this year, Domino&#8217;s Pizza festooned its Facebook page with a string of posts, including an image of a Mexican-themed guacamole pizza that garnered over 2,000 &#8220;likes&#8221;. But visitors to Domino&#8217;s companion Google+ page on that day found less festive fare: The most recent post was from October 2012. Two years after introducing its social network, Google Inc <goog.o> is struggling to win over the brands and businesses that have been its most loyal customers in the Internet search market.</goog.o></p>
<p> For banks in cyber heist, how to get their money back?</p>
<p> NEW YORK (Reuters) &#8211; Because the sums were large and such attacks are relatively new, the two Middle East banks hit in a $45 million ATM heist face an uncertain path in trying to recover their losses, financial, insurance and legal experts say. Oman-based Bank of Muscat lost $40 million and United Arab Emirates-based National Bank of Ras Al Khaimah PSC <rakb.ad> (RAKBANK) lost $5 million in the global heist, U.S. prosecutors said on Thursday.</rakb.ad></p>
<p> Western Union shares could rise in coming years &#8211; Barron&#8217;s</p>
<p> NEW YORK (Reuters) &#8211; Western Union Co. <wu.n>, which facilitates long-distance money transfers between consumers and businesses, could see its shares rise to the low $20 range in the next few years, according to a Barron&#8217;s report. In its May 13 edition, Barron&#8217;s cited a recent reduction in Western Union&#8217;s rates as a catalyst for growth. It also said that business could expand as unemployment levels fall around the world, citing Ariel Investment analyst James Kenney.</wu.n></p>
<p> <span class="yshortcuts" id="lw_1368404944005_2">Deutsche Telekom</span> says U.S. listing helps it &#8220;attack&#8221; rivals: paper</p>
<p> FRANKFURT (Reuters) &#8211; Deutsche Telekom
<dtegn.de> has given its U.S. operations more autonomy, positioning its business to compete better with bigger and smaller rivals, <span class="yshortcuts" id="lw_1368404944005_5">Chief Executive Rene Obermann</span> told Germany&#8217;s Welt am Sonntag newspaper. In an effort to turnaround its U.S. business, which has lost customers to AT&#038;T <t.n> and Verizon <vz.n>, the German telecoms provider floated its operations there after merging its T-Mobile USA unit with MetroPCS Communications.</vz.n></t.n></dtegn.de></p>
<p> HSBC boss can do more to cut bank down to size</p>
<p> LONDON (Reuters) &#8211; HSBC&#8217;s <hsba.l> sale of a stake in a Korean insurer last month was made with little fanfare, just one of 52 deals struck or businesses closed in the last two years by <span class="yshortcuts" id="lw_1368404944005_6">Chief Executive Stuart Gulliver</span>, and analysts are expecting more. With less than a year left of his 3-year restructuring plan, Gulliver will report on how he is doing in meeting his targets on Wednesday.</hsba.l></p>
<p> Mixed signals for the global economy</p>
<p> WASHINGTON (Reuters) &#8211; A flood of data this week will paint a mixed picture of the global economy, with belt-tightening continuing to dampen activity in the euro zone, but accommodative policies helping to stimulate growth in Japan. Reports from the United States are expected to show some slowdown in momentum early in the second quarter, and the Chinese economy&#8217;s prospects are unlikely to have changed much.</p>
<p> Analysis: Bullish yuan herd leaves China fundamentals in the dust</p>
<p> SHANGHAI (Reuters) &#8211; Investors convinced China&#8217;s currency is once again a one-way bet upward should think again: signs of slowing economic growth could cut short the yuan&#8217;s rally. Investors and companies have been pouring funds into China in recent months, helping send the yuan to a series of record highs.</p>
<p> Germany pushing for faster reform in euro zone: magazine</p>
<p> BERLIN (Reuters) &#8211; Germany wants further reforms and savings in crisis-hit euro zone states, according to a report obtained by German magazine Spiegel in which Berlin evaluates progress made under strengthened EU budget rules. The rules have managed to spur in all euro zone countries a &#8220;general political mobilization towards structural reforms and greater competitiveness&#8221;, Spiegel cited the report as saying in its edition published on Sunday.</p>
<p> India IT watchdog investigating breach in ATM heist</p>
<p> MUMBAI/BANGALORE (Reuters) &#8211; The Indian government&#8217;s cyber watchdog is investigating how security at two companies that are part of the country&#8217;s vast IT services industry was breached in a global ATM heist that saw $45 million stolen from two banks in the Middle East. EnStage Inc, which operates from Bangalore, and ElectraCard Services, based in the Indian city of Pune, processed card payments for the two banks that were hit in the theft, several people familiar with the situation said.</p>
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