SAI Global Limited (ASX:SAI) today posted a 140.5% increase in net profit after tax for the six-month period ended on 31 December 2008. When compared to the result for the corresponding period before the impact of non-recurring charges incurred in that period, the increase was 57.5%.
On Wednesday, the Australian shares dropped more than 2% dragged by the property and mining sectors. The benchmark S&P/ASX200 index was down 70.8 points, or 2.02 per cent, at 3,437.9, while the broader All Ordinaries index shed 66.8 points, or 1.94 per cent, to 3,382.3. The market could restore some confidence over the news that the US service sector shows it shrank at a low pace and China's national purchasing managers index suggests a recovery in China.
Software AG (FRA:SOW), a provider of business infrastructure software, today stressed the importance of IT in enabling the financial services industry to adapt to the new economic order.
Overnight US stocks plummeted for a second day with a 4.85% drop as global markets plunged on fears of a deep worldwide recession. Yesterday the 150 basis points interest rate cut of Britain also surprised the market. Economists and analysts questioned the need for such a big cut and believe the economy must be in seriously risk with more dangers ahead. Investors ignored big interest rate cuts in Europe to send markets into steep falls overnight. The key Asian indicators also dropped more than 6.5 percent and wiping out much of the previous rally that had preceded the presidential election in the United States.
SAI Global Limited (ASX: SAI) today announced that its Assurance strategy had been given a major boost with the Canadian Standards Association choosing SAI as acquirer of the prestigious Quality Management Institute ("QMI"), the leading Auditing and Certification Body (or Registrar) in Canada and the United States. An Asset Purchase Agreement has been signed and financial completion is scheduled for 29 February 2008, subject to customary closing conditions.
Polaris and NSW Government 'set the pace' with new centre for Application Performance Diagnostics & Managed Testing Services Sydney PACE Lab to service financial services, banking, insurance and services sectors.
As Northern Rock's customers are standing queuing in the streets, one of the world's leading standards and independent auditing bodies has launched a campaign in the United Kingdom designed to monitor and report on the sustainability of British business.
