North Korean athletes arrive in South Korea for Olympics

first_imgGANGNEUNG, South Korea >> Ten North Korean skaters and skiers arrived in rival South Korea on Thursday to participate in this month’s Winter Olympics, which has brought a temporary lull in tensions over the North’s nuclear weapons program.The North Koreans are the second and final batch of 22 athletes from their country who have won special entries from the International Olympic Committee for the Feb. 9-25 games in Pyeongchang, South Korea. A dozen North Korean female hockey players came last …last_img read more

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Will the Cloud Be Tinged with Venture Capital Gold in 2011?

first_imgWhy Tech Companies Need Simpler Terms of Servic… alex williams Tags:#Analysis#cloud Top Reasons to Go With Managed WordPress Hosting A Web Developer’s New Best Friend is the AI Wai…center_img 8 Best WordPress Hosting Solutions on the Market The forces changing the enterprise are not lost on venture capitalists. They recognize the transformation as well as anyone. So much so that it looks like cloud computing investments are expected to be greater than those in other market sectors.That’s evident in just the past few days with three venture capital investments that total $55 million.The investments are going to companies that have only one thing in common: they are able to show promise due to the fast acceptance of cloud computing in the enterprise and the overall high level of interest in the ways that businesses can use Web and mobile applications for better optimization and reach with customers.Cloud computing is a catalytic factor for the Dachis Group, which has raised $30 million in a series B round from Austin Ventures. Skytap received a $10 million series C round to fund sales and marketing efforts for its cloud automation technology. SCVNGER is a location-based app that competes with Foursquare. It received $15 million this week.Dachis GroupDachis Group is the largest consulting company in the world dedicated to integrating social business solutions into the enterprise. It will use its funding for international expansion, staffing and other investments that include acquisitions. Dachis has made several acquisitions in the last year. These were mostly consulting companies, including Hinchcliffe and Associates, Archrival and Stuvo. Dachis competes with both boutique groups and the largest consulting companies. For example, companies such as Accenture are increasingly paying attention to the enterprise and the adoption of social technologies. In an interview, founder Jeffrey Dachis said the transformation is extending from the enterprise and deep into the supply chain. “I think cloud computing is one of the core components of social business,” Dachi said.SkytapSkytap is a cloud automation technology company based out of Seattle. The company’s platform provides the capabilities for self-serve cloud deployment and virtualized environments. Skytap plans to use its investment for sales and marketing purposes. The service allows for companies to develop, test, migrate, evaluate, demo and train on new and existing applications in the cloud. Its most significant offering has to be its network automation which it launched earlier this year. In an interview we did last month, Sundar Raghavan, chief product and marketing officer at Skytap, said the goal for the service is to make it as simple as possible for people to realize the benefits of a cloud platform. That means far better automation than the processes today that require assistance from people with specific expertise. Networks can break down. When that happens, a company will have to go lengths to get it fixed. Skytap provides the capability to move applications with ease. Krishnan Subramanian wrote earlier this year that Skytap is a hot company to watch due to its ability to “enable IT organizations the ability to move multi-tiered enterprise applications with clustering and fail-over networking capabilities into the cloud with point-and-click ease.” The resulting cost savings can be significant. Companies are seeking ways to pull the bits and pieces together to build a cloud environment. Skytap automates the process.SCVNGRSCVNGR is a location-based service that emphasizes gaming and challenges. It’s an entirely different play than Skytap or Dachis. SCVNGR is not exactly an enterprise technology but it has direct correlations to the cloud and its use for business to reach out to their customer base. This may mean a business asking customers to take photos and share them with others. That’s opposed to a check-in where a person is simply saying they have arrived at a location such as you see with a service like Foursquare. Gaming is entering the business world and the cloud is the vehicle for it.Overall ViewAccording to the National Venture Capital Association, Internet technologies and cloud computing software will outpace green tech. So much so that venture capitalists say there could be over investment in the Internet and cloud computing categories.That’s not too hard to believe considering the rapid pace of investment we are already seeing this year. Related Posts last_img read more

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Ophir Opts for Alternative Financing for Fortuna FLNG

first_imgzoom Africa’s first deepwater FLNG project situated in Equatorial Guinea, Fortuna FLNG, has been faced with some financial hurdles.Based on the latest update from its developer Ophir Energy, the talks with a group of Chinese banks on financing the project have taken longer than expected prompting the company to turn to alternative sources of funding.“Concurrently, Ophir and its partners have therefore also been developing alternative funding sources for the project. These alternative options are now at an advanced stage. Ophir expects to be in a position to select one of these options and to finalize the financing arrangements for the project by mid-December 2017,” the company said.“Once the financing arrangements have been selected, Ophir will promptly seek approval for the project from its shareholders and the project stakeholders.”As informed, the final investment decision, based on this sequence of approvals, would be expected to take place during Q1 2018.“The discussions we have had in recent weeks make us more confident than ever that shareholders will realise significant value from Fortuna,” Nick Cooper, Chief Executive of Ophir, commented.Ophir has agreed on a twelve-month extension to the Block R licence, in which the project is situated, to the end of December 2018.The expected total capital expenditure for the integrated project is around USD 2 billion to reach first gas, which will have been achieved by 2020 based on initial projections. Some USD 1.2 billion is expected to be debt financed, with full drawdown by the start of commercial operations.last_img read more

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