Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 32 n° 220

Posts Tagged ‘deals’

Parliament approves EU-Vietnam free trade and investment protection deals

Posted by fidest press agency su venerdì, 14 febbraio 2020

MEPs gave their consent to the free trade agreement by 401 votes, 192 votes against and 40 abstentions. The “most modern, comprehensive and ambitious agreement ever concluded between the EU and a developing country” will contribute to setting high standards in the region, and could lead to a future region-to-region trade and investment agreement, said the Parliament, in an accompanying resolution adopted by 416 votes for, 187 against and 44 abstentions. The agreement is “a strong signal in favour of free, fair and reciprocal trade, in times of growing protectionist tendencies and serious challenges to multilateral rules-based trade”, MEPs stressed.The agreement will remove virtually all customs duties between the two parties over the next ten years, including on Europe’s main export products to Vietnam: machinery, cars, and chemicals. It extends to services such as banking, maritime transport and postal, where EU companies will have better access. Companies will also be able to bid on public tenders put out by the Vietnamese government and several cities, including Hanoi. The deal also safeguards 169 emblematic European products.
In addition, the agreement is an instrument to protect the environment and to sustain social progress in Vietnam, including labour rights. It commits Vietnam to apply the Paris Agreement. Vietnam committed to ratify two bills as requested by Parliament, one on the abolition of forced labour, the other on freedom of association, by 2020 and 2023, respectively.
Separately, the Parliament agreed by 407 votes for, 188 against and 53 abstentions to an investment protection agreement providing an investment court system with independent judges to settle disputes between investors and state. The accompanying resolution passed by 406 votes for, 184 against and 58 abstentions.

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Mega-deals in H109

Posted by fidest press agency su mercoledì, 15 luglio 2009

The UK IT outsourcing (ITO) market continues to present opportunities for large providers at the top end of the market, according to new research from global advisory and consulting firm Ovum. However smaller and niche suppliers are facing the toughest of conditions as opportunities fall into the hands of the largest players. Ovum’s report titled, “UK IT outsourcing: opportunities in a recession”,shows that the ten biggest UK ITO providers have boosted their total contract value (TCV) of ITO deals signed in the first six months of the year by an impressive 31%. This is due to a combination of some new megadeals entering the market (BT’s £500m contract at the National Health Service, IBM and CSC’s c£300m deals at the Government’s Identity and Passport Service, and a £685m deal for HP-EDS at insurance giant Aviva) as well as many smaller sized deals that are increasingly encompassing a broader range of services. Other vertical sectors such as financial services, pharmaceuticals/life sciences, retail and travel are showing active interest in ITO too. They are also under heavy financial pressure as a result of the recession. Recent £20m+ ITO deals with IBM at the Carphone Warehouse, CSC at Virgin Atlantic, and with Xerox at nationalised bank Northern Rock, are encouraging signs of such activity coming to market. To succeed in the current market, suppliers are going to need to have deep pockets and resilience. Offering more for less by restructuring contracts, offering new technologies such as virtualisation and cloud computing, and providing innovative approaches to drive out further cost for their customers are key to winning and retaining business. This will require significant time and financial investment on the part of suppliers, and will be a challenge to even the most financially stable vendors.  Without a clear understanding of, and a strategic response to the challenges faced, this has the potential to spell the end for the second and third tier UK ITO market.

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