latest news releases from the newsroom
Kinnevik: New Loan Agreements and Refinancing
STOCKHOLM, Sweden, May 14, 2003 (PRIMEZONE) -- Industriforvaltnings AB Kinnevik (Nasdaq:KVIKA) (Nasdaq:KVIKB) today announced that it had completed a major refinancing of its banking facilities. The majority of the funds are being used to refinance both short and medium term bank facilities.
Skandia's Financial Effects Through March 2003
STOCKHOLM, Sweden, May 14, 2003 (PRIMEZONE) -- Skandia's (Other OTC:SKNFF) (LSE:SDIAq) result is affected by external factors such as changes in the stock market and interest rates. Future revenues, which are based on fund values, increase or decrease as a result of these factors. When the value of funds decrease, the company's tax situation is also affected in certain cases. Altogether this entails a one-time effect on the operating result. During the first quarter of 2003 the aggregate negative financial effect on the operating result is estimated to be in the range of SEK 250 -- 350 million.
SAS: snowflake Destined for Beirut, Belgrade and Istanbul
STOCKHOLM, Sweden, May 14, 2003 (PRIMEZONE) -- SAS (Other OTC:SASDF): to date, more than 200,000 aircraft seats have been booked on snowflake and interest among travelers is considerable. Capacity usage on board in April was more than 72 percent and www.flysnowflake.com now has an average of 40,000 visits per week.
Horizon Offshore Inc.
Horizon Offshore Reports First Quarter Results
HOUSTON, May 14, 2003 (PRIMEZONE) -- Horizon Offshore, Inc. (Nasdaq:HOFF) today reported a net loss for the quarter ended March 31, 2003 of $2.9 million, or $0.11 per share-diluted. This compares with net income of $0.4 million, or $0.02 per share-diluted, for the first quarter of 2002.
Saab Ericsson Space to Shed 80 People in Gothenburg
LINKOPING, Sweden, May 14, 2003 (PRIMEZONE) -- Saab Ericsson Space is to lose a further 80 personnel from its Gothenburg operation. The international market for telecommunications satellites remains weak, and Sweden's space budget has gradually been cut back over a number of years.
Allied Irish Banks, p.l.c.
Allied Irish Banks, p.l.c. Purchase of Own Shares
DUBLIN, Ireland, May 14, 2003 (PRIMEZONE) -- Allied Irish Banks, p.l.c. ("AIB") (NYSE:AIB) announces that on 13 May 2003, it purchased ordinary shares. Allied Irish Banks, p.l.c. ("AIB") (NYSE:AIB) announces that on 13 May 2003, it purchased 1,450,000 of its ordinary shares, at an average price of Euro 14.1724, to be held as treasury shares.
City Network Makes Significant In-Roads in Shanghai Broadband Market
TAIPEI, Taiwan, May 14, 2003 (PRIMEZONE) -- City Network Inc. (OTCBB:CYNW) is celebrating its second consecutive year of providing Home PNA and VDSL Internet equipment solutions to one of China's largest communication companies Shanghai Telecom (www.sta.net.cn). Shanghai Magicnet Inc. (www.chongwang.com), an agent and supplier of broadband Internet equipment to Shanghai Telecom, is one of City Network's key investments in developing China's burgeoning internet market. Shanghai Magicnet has been responsible for winning important license and supplier agreements with Shanghai Telecom, in order to increase the ubiquity of high-speed, broadband Internet use among Shanghai's several million Internet users. Magicnet is currently working with Shanghai Telecom in the planning and development of projects for Shanghai's massive multi-dwelling unit market.