latest news releases from the newsroom
CDMA Development Group
CDMA2000 Moves to Its Next Growth Phase as 3G Broadband Enters China and India
COSTA MESA, Calif., March 2, 2009 (GLOBE NEWSWIRE) -- The CDMA Development Group (CDG) today noted that CDMA2000(r) is poised to enter into its next phase of rapid growth in 2009, as operators in China and India begin to offer 3G fixed and wireless services. CDMA2000 is already the most widely deployed 3G technology in the world, with 276 operators in 102 countries and territories serving more than 463 million subscribers. With a combined population exceeding 2.5 billion people, the two Pan Asian countries represent an enormous addressable market for 3G wireless telephony, broadband Internet access and a myriad of compelling data applications such as e-mail, personal navigation, FM radio and mobile broadcast services that will fuel the rapid growth of CDMA2000 over the next few years.
Horizon Financial Corp.
Horizon Bank Agrees to Regulatory Order Implementing a Corrective Action Plan
BELLINGHAM, Wash., March 2, 2009 (GLOBE NEWSWIRE) -- Horizon Financial Corp. (Nasdaq:HRZB) announced today that Horizon Bank, its sole operating subsidiary, has signed an agreement with the Federal Deposit Insurance Corporation (FDIC) and the Washington Department of Financial Institutions (DFI) to consent to the issuance of a cease and desist order. Although Horizon Bank has agreed to the order, it has not admitted or denied any of the allegations contained in the order charges. The order is a formal action by the FDIC and DFI requiring the Bank to take corrective measures in a number of areas, and no fines or penalties were imposed as a result of the order. The Bank will continue to serve its customers in all areas including making loans, establishing lines of credit, accepting deposits and processing banking transaction. All customer deposits remain fully insured to the highest limits set by the FDIC.
Pacific Asia Petroleum Inc.
Pacific Asia Petroleum Inc. Signs Expanded China Oil Production and Technology Acquisition Agreement
HARTSDALE, N.Y., March 2, 2009 (GLOBE NEWSWIRE) -- Pacific Asia Petroleum, Inc. (OTCBB:PFAP), a U.S. publicly-traded company, announced today that it has signed a comprehensive Amended & Restated Agreement on Cooperation with Well Lead Group Limited ("Well Lead") covering the principal terms and conditions for the acquisition by Pacific Asia Petroleum, Inc. ("Pacific Asia" or the "Company") of 51% participating interests in several Well Lead related companies conducting onshore oil production and enhanced oil recovery technology operations in the People's Republic of China.