DOCSLIB.ORG

Banco BPI 2002

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Banco BPI 2002 Banco BPI 2002 Report Index REPORT Leading business indicators 4 Introduction 6 Governing bodies 11 Historical milestones 12 The identity of BPI 14 The BPI brand 15 Corporate governance at the BPI Group 16 Social investment 18 Financial and business structure 20 Distribution channels 21 Human resources 22 Technology 25 Operations 35 Highlights of 2002 38 Background to operations 40 Domestic Commercial Banking 48 International Commercial Banking 62 Insurance 65 Asset Management 66 Investment Banking 72 Private Equity 75 Financial review 77 Risk management 108 Rating 120 BPI shares 122 Shareholders 125 Shareholders value creation 126 Final acknowledgements 127 Proposed appropriation of net profit 128 CONSOLIDATED FINANCIAL STATEMENTS AND NOTES Consolidated financial statements 129 Notes to the consolidated financial statements 137 Legal certification of accounts and audit report 195 Auditor's report 197 Report and opinion of the Audit Board 198 ANNEXES The BPI Group's Corporate Governance Report 201 Trading information 223 Appendices Definitions, acronyms and abbreviations 226 Glossary 228 Formulary 230 Methodological notes 231 Index of figures, tables, charts and "boxes" 232 General index 234 Miscellaneous information 237 Leading business indicators (Consolidated figures in millions of euro, except where indicated otherwise) 1998 1999 2000 2001 2002 ∆% 01 / 02 Total assets 15 579.9 16 550.5 21 907.4 24 792.9 25 669.1 3.5% Total assets plus disintermediation 19 885.2 20 758.0 26 335.8 29 127.7 29 605.6 1.6% Shareholders’ equity 566.4 650.7 930.0 908.7 1 168.9 28.6% Loans to Customers (gross) and guarantees 9 903.6 12 023.4 16 542.8 18 768.9 19 738.0 5.2% Customer deposits 9 053.6 9 458.5 10 463.7 11 494.3 12 224.6 6.4% Total Customer resources 13 909.8 14 806.0 16 507.8 17 402.9 17 647.5 1.4% Assets under management 7 009 7 249 7 639 7 545 7 513 (0.4%) Operating cash flow 227.2 207.2 278.6 327.0 310.4 (5.1%) Net operating income 159.2 139.6 152.5 190.6 192.1 0.7% Net profit 137.0 124.8 152.4 133.3 140.1 5.1% Cash flow after taxation 205.0 192.3 278.5 269.6 258.4 (4.2%) Return on average total assets (ROA) 0.8% 0.8% 0.8% 0.6% 0.6% Return on Shareholders’ equity (ROE) 25.6% 22.4% 21.6% 14.7% 13.5% Cost-to-income1 61.7% 65.0% 60.7% 58.1% 58.7% Efficiency ratio2 74.5% 79.6% 71.9% 68.3% 67.1% Ratio of own funds requirements3 11.1% 11.6% 9.8% 9.2% 10.2% Tier I3 6.0% 6.8% 6.7% 5.9% 7.3% Loans in arrears for more than 90 days as % of Customer loans 1.8% 1.4% 1.0% 0.9% 1.3% Provisioning cover for arrear loans 141.0% 157.3% 194.2% 210.0% 153.0% Cover of pension obligations4 101.7% 102.4% 101.6% 100.0% 100.1% Data per share adjusted (euro)5 Cash flow after taxation 0.35 0.32 0.45 0.40 0.36 (10.7%) Net profit 0.24 0.21 0.24 0.20 0.19 (2.0%) Dividend 0.07 0.09 0.09 0.08 0.08 (2.4%) Book value 0.97 1.05 1.37 1.34 1.54 14.9% Weighted average no. of shares (in millions)5 584.0 603.8 626.3 679.0 728.3 7.3% Closing price (euro)5 3.86 3.86 3.18 2.15 2.18 1.5% Total Shareholder return 31.2% 2.5% (16.0%) (30.4%) 3.0% Stock market capitalisation at year end 2 252.7 2 390.0 2 156.4 1 459.1 1 656.8 13.5% Dividend yield 2.5% 2.4% 2.4% 2.7% 3.9% Individuals and small businesses distribution network (retail branches)6 487 592 592 584 564 (3.4%) Corporate and institutionals centres network7 53 54 63 63 61 (3.2%) BPI Group staff complement (number)8 7 695 8 239 8 359 8 106 7 576 (6.5%) 1) Administrative overheads (personnel costs and outside supplies and services) as % of operating income from banking. Table 1 2) Administrative overheads and depreciation as % of operating income from banking, excluding profits from financial operations. 3) Calculated in accordance with the Portuguese Central Bank's rules governing minimum own funds requirements (Notice 7 / 96). 4) Pension liabilities recognised in the balance sheet. 5) Adjusted for capital increase, re-denomination and re-nominalisation. 6) Includes traditional branches (508 in 2001 and 483 in 2002), housing shops, in-store branches, investment centres and automatic shops. 7) Distribution network specialising in serving medium-sized companies (44 Corporate Centres), large companies (7 Corporate Centres), 4 Wholesale Centres, 1 Project Finance Centre and Institutionals (5 Centres). 8) Group staff complement in the domestic and international activities. Includes term Employees and temporary workers. 4 Banco BPI | Annual Report 2002 GROWTH, PROFITABILITY, STRENGTH AND VALUE Bi.€ Bi.€ Net total assets plus 32 20 Loans and Customer disintermediation resources 24 15 Net total assets1 Disintermediation2 16 10 Total Customer resources1 Loans to Customers 1) Corrected for duplication of 8 5 balances. 2) Off-balance sheet Customer 1) Corrected for duplication of resources. 0 0 balances. 9899 0001 02 9899 0001 02 M.€ € Net profit 160 0.28 Net profit per share 120 0.21 80 0.14 40 0.07 0 0.00 9899 0001 02 9899 0001 02 % Bi.€ Quality of loan portfolio 6 2.0 Own funds and own funds requirements 4 1.5 Ratio of loans in arrears1 Loans in arrears1 net of 2 1.0 provisions, as % of loans to Customers 0 0.5 1) Loans in arrears for more than Own funds 90 days. Own funds requirements -2 0 9899 0001 02 9899 0001 02 Bi.€ Stock market capitalisation 2.8 BPI Ratings Issuer A+ Fitch Ratings Stable 13 Jan. 03* 2.1 A2 Moody’s 1.4 Stable 7 Jan. 03* 0.7 A- Standard & Poor’s Stable 20 Dec. 02* Long-term rating notations * last revision 0 9899 0001 02 Figure 1 Report | Leading business indicators 5 Introduction ON THE RIGHT COURSE The BPI Group’s performance in 2002, marked by an important reorganisation of its system of governance, confirms the satisfactory execution of the strategy mapped out for the three-year period 2002-2004. This approach is based on a programme of selective and more efficient growth, not only from the viewpoint of operating costs, but also in terms of capital allocation. In 2002, BPI managed to surpass the targets set for cost containment, while simultaneously achieving robust growth in its domestic activity. It continued to present risk and financial base indicators within the best in the Portuguese banking system. Net profit posted a rise of 5%, in spite of the pressure exerted on net interest income by the decline in interest rates. The objectives for 2003 and 2004 have been revised in the light of the predictable impact of the negative economic environment on the growth in demand and GDP. The new goals envisage nil growth in both years in administrative overheads, defined as the sum of personnel costs, other administrative costs and depreciation and amortisation. Considering that these items had already registered a decline in 2002 of 2.8%, the revised objectives constitute an even more demanding challenge. On the other side, the target set for gross operating income from banking (excluding profits from financial operations) remains unaltered, that is, this item is still projected to rise at a rate of 5% in 2003 and 2004, after having fallen slightly (1%) in the year under review. As a consequence of this trend in costs and revenues, the new goal laid down for the ratio administrative overheads / operating income from banking (excluding profits from financial operations) is 61% in 2004, against 67% in 2002; in turn, the cost-to-income ratio, which is calculated by expressing personnel costs and other administrative costs as a percentage of operating income from banking, should decline from 58.7% in 2002 to 53% in 2004, thus confirming the Bank’s commitment to improve the efficiency and profitability of its business operations. Selective growth Net profit from domestic operations (including the Madrid branch and banking services to emigrant communities), climbed 17% in 2002 and accounted for 87% of the Group’s consolidated profit. This in turn is explained by around 103% by commercial banking (with an ROE of 15%) and helped to compensate for the negative contribution from participating interests. Investment banking’s share was situated at 6%, corresponding to a return on capital of 33%. Net interest income in narrow sense generated by domestic activity rose by 3%, while commissions from commercial banking grew by 7%, with very significant increases in net income from insurance brokerage (+80%), transfers and payment orders (+11%), operations relating to loans and guarantees (+9%) and cards (+7.5%). 6 Banco BPI | Annual Report 2002 There was also a slight decrease (-4%) in asset management commissions, a result that can be considered favourable in the light of the situation pervading the markets and the lesser importance of investment banking commissions (-27%). The latter were influenced significantly by the slump in commissions from brokerage and capital market operations, which dropped 48% as a consequence of the negative climate enveloping the major stock markets.
Load more

Recommended publications
  • Economic Analysis and Regulatory Principles
    ERG (09) 17 Report on Next Generation Access - Economic Analysis and Regulatory Principles June 2009 I ERG (09) 17 Table of contents List of figures III A Introduction 1 B Summary of Country Case Studies 3 C Economic Analysis in light of Factual NGA Developments 5 C.1 General principles 6 C.2 Business case studies 7 C.3 Regulatory implications of NGA economics 8 C.4 Economic and Social Value of NGA 10 D Analysis of Regulatory Decisions and Principles 11 D.1 Market definition and analysis 11 D.2 Access obligations and the ladder of investment 12 D.3 Price control measures including assessment of investment risk 15 D.4 Regulatory/Competition law treatment of joint projects 23 D.5 Symmetric regulation 23 D.6 Procedural steps during the migration period 25 E Overall assessment 30 Annex 1: NGA - Country Case Study Updates 34 Annex 2: Table on NGA Factual Development 188 Annex 3: Table of Price Control Measurements 203 Literature 207 II ERG (09) 17 List of figures Figure 1: NGA ladder of investment 14 III ERG (09) 17 A. Introduction This ERG Report “Next Generation Access – Economic Analysis and Regulatory Principles” is a follow up document of the October 2007 Common Position on NGA (ERG CP NGA)1 looking at the economic and regulatory analysis in light of ongoing roll-out, the draft NGA Recommen- dation and more recent economic studies including the ERG Statement on the development of NGN Access, ERG (08) 68, December 2008. It is a report examining the latest evidence on NGA roll-out strategies (including cable) as well as regulatory approaches being announced or implemented across Europe by ERG members since the adoption of the ERG CP NGA to ensure that the original conclusions remain valid and fit-for purpose for national regulators to follow and take account of the latest develop- ments.
    [Show full text]
  • Nowy Kurjer Łódzki 1917 R. 2 Półrocze. Dziennik Polityczny, Społeczny I Literacki
    1917 . Piątek. 31 sierpnia Ir~ . WsohodziejBMe si~ mo~ef nader łatwo, ryeh pr21yj~ciQ Ind ten nie był przygo .. jedną 2J wielu powatnyoh, prżyc2iyn. łowImy.. Potworzono bojówki 'P,rt11n~ dyktująoyoh mocarstwom europejskim stronnictw~ namil'Jtnie zwalolaJ~ol'ch potrzebt) rychłego zakońozenia wój· sit2 wzajem.nie. Wyłonił si~ mnich Ily, wyczerpującej wszystld~. Ja­ je bandytyzm, szerzący słt2 do dziś dnia, <III/? pońozycy .nie potrzebu,~ 8i~ śple~zy6, :pomimo energic~mego zwalczania 1ego gdy~ jeteli wojna potrwa. dłutel. a objawów przez Bt\dy polowe, kar'ił\Ge lak niektórzy 'PrzepOWiadają, lat jesz~ no śmiercif\ za rabunki i mordy_ . oze par«2, - Europa .na będzie dhl~i W o1na obecna! cał1mSlam~łem podaje do wiadomości, okres tak wyozerpaną.te JapOD]a towarzyszących 1e', lnb wytwono.. swobodnie bł2dzie mogła. > urzeczy.. nych przez nią warunk6w, przyakom. wistni6 swe dą~ą08 do zbu4o­ !er.prele.tlcje llflrji Dl 'idź i flkr~1 'Iizki "1,1 plany, pan1amenoie szale'lloe1 do· potwor­ wanla wielkiego imperjumjapońsl{Je~ nyoJ1 granic spekulaojl 1 wyzysku­ go na Dalekim Wschódzie~ jopełniła miary. Zdawało się; !ewo.,~ St. Li? )la f 1ej łdęski sprowadzą opami~t&... n nie. zwłaszcza, gdy zabłysła na ho­ w &odzi, przy 81. - ryzoncie dzie1ów ,jutrznia odrodzenia ui: Plolł'kOwskiej Qlczyzny w je1 Aamodzielnym, nie­ podl egłym byole. Nlestety~ złudzenia Wszyscy w Łodzi i okolicy, kt6rzy pragną o~rzyma6 kolektę o zDrowienaroDn. fe' zbyt szybko prysły. Zewsząd do- Joterji Legionów, proszeni są o zgłaszanie si~ dn p. Zółł:owsldego Jedną z l)ajf1owa~nieis~ych trosk cbodzą nas wieści o smutnym nad który udzielać będzie wB2I!elkioh infopmacjii odda­ w dobie obecne), która 1ratdego sr,c'te- wyraz moralnym stanie zdro\łla.
    [Show full text]
  • ZON Multimedia Towards the Future When It Is All a Matter of 'Fiber'
    ZON Multimedia towards the future When it is all a matter of ‘fiber’ André Almeida Pinho, 32 years old, director of new product development and product management at ZON TV Cabo, stood in front of his office’s window in Lisbon, Portugal, recalling his short but successful company’s story. He wondered how he might continue its successful path in such a time of aggressive competition and change in the telecommunication sector. Established in November 2007, ZON Multimedia was initially known for its TV cable service but quickly conquered the remaining market with its integrated and innovative offer which also included voice and broadband Internet. By the end of 2008 ZON Multimedia, with a business volume of 773, 081 M€, had achieved a leading position in the Triple Play segment. _____________________________________________________________________________________ Filipa Bilbao prepared this case under the supervision of Nuno Magalhães Guedes, in partial fulfillment of the Dissertation requirements for the degree of MSc in Business Administration, at Universidade Católica Portuguesa, in January 2012, as a basis for class discussion rather than to illustrate either effective or ineffective handling of a management situation. ZON Multimedia towards the future -When it is all a matter of ‘fiber’ Established in November 2007, ZON Multimedia was initially known for its TV cable service but quickly conquered the remaining market with its integrated and innovative offer which also included voice and broadband Internet. By the end of 2008 ZON Multimedia, with a business volume of 773, 081 M€, had achieved a leading position in the Triple Play segment. Yet, in 2008, the technology of ZON Multimedia began to be challenged.
    [Show full text]
  • United States Securities and Exchange Commission Form
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F អ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ፤ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2006 OR អ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-13758 PORTUGAL TELECOM, SGPS S.A. (Exact name of Registrant as specified in its charter) The Portuguese Republic (Jurisdiction of incorporation or organization) Av. Fontes Pereira de Melo, 40, 1069-300 Lisboa Codex, Portugal (Address of principal executive offices) Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered American Depositary Shares, each representing one ordinary share, nominal value A0.03 per share ........ New York Stock Exchange Ordinary shares, nominal value A0.03 each ........... New York Stock Exchange* * Not for trading but only in connection with the registration of American Depositary Shares. Securities registered or to be registered pursuant to Section 12(g) of the Act: None Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report. Ordinary shares, nominal value A0.03 per share ........................................ 1,128,856,000 Class A shares, nominal value A0.03 per share ........................................
    [Show full text]
  • United States Securities and Exchange Commission Form
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F អ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ፤ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2007 OR អ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR អ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-13758 PORTUGAL TELECOM, SGPS, S.A. (Exact name of Registrant as specified in its charter) The Portuguese Republic (Jurisdiction of incorporation or organization) Av. Fontes Pereira de Melo, 40, 1069-300 Lisboa Codex, Portugal (Address of principal executive offices) Nuno Prego, Investor Relations Director, Tel. +351 21 500 1701 Av. Fontes Pereira de Melo, 40, 1069-300 Lisboa Codex, Portugal (Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person) Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered American Depositary Shares, each representing one ordinary New York Stock Exchange share, nominal value A0.03 per share .................. Ordinary shares, nominal value A0.03 each ............... New York Stock Exchange* * Not for trading but only in connection with the registration of American Depositary Shares. Securities registered or to be registered pursuant to Section 12(g) of the Act: None Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report.
    [Show full text]
  • The Economics of Next Generation Access - Final Report
    WIK-Consult • Report Study for the European Competitive Telecommunication Association (ECTA) The Economics of Next Generation Access - Final Report Authors: Dieter Elixmann Dragan Ilic Dr. Karl-Heinz Neumann Dr. Thomas Plückebaum WIK-Consult GmbH Rhöndorfer Str. 68 53604 Bad Honnef Germany Bad Honnef, September 10, 2008 The Economics of Next Generation Access I Contents Tables IV Figures VII Abbreviations X Preface XIII Executive Summary XV 1 Introduction 1 2 Literature review 3 2.1 OPTA: Business cases for broadband access 3 2.1.1 OPTA: Business case for sub-loop unbundling in the Netherlands 3 2.1.2 OPTA: Business case for fibre-based access in the Netherlands 5 2.2 Comreg: Business case for sub-loop unbundling in Dublin 8 2.3 BIPT: The business case for sub-loop unbundling in Belgium 10 2.4 Analysys: Fibre in the Last Mile 12 2.5 Avisem studies for ARCEP 15 2.5.1 Sharing of the terminal part of FTTH 16 2.5.2 Intervention of local authorities as facilitators 18 2.6 AT Kearney: FTTH for Greece 19 2.7 ERG opinion on regulatory principles of NGA 23 2.8 JP Morgan: The fibre battle 26 2.9 OECD 28 2.9.1 Public rights of way for fibre deployment to the home 29 2.9.2 Developments in fibre technologies and investment 32 3 Experiences in non-European countries 44 3.1 Australia 44 3.1.1 Overall broadband market penetration 44 3.1.2 Current broadband market structure 45 3.1.3 Envisaged nationwide “Fibre to the Node” network 47 3.1.4 Regulation, wholesale services 50 3.2 Japan 51 3.2.1 Overall broadband market penetration 51 II The Economics of
    [Show full text]
  • GOLDBERG, GODLES, WIENER & WRIGHT April 22, 2008
    LAW OFFICES GOLDBERG, GODLES, WIENER & WRIGHT 1229 NINETEENTH STREET, N.W. WASHINGTON, D.C. 20036 HENRY GOLDBERG (202) 429-4900 JOSEPH A. GODLES TELECOPIER: JONATHAN L. WIENER (202) 429-4912 LAURA A. STEFANI [email protected] DEVENDRA (“DAVE”) KUMAR HENRIETTA WRIGHT THOMAS G. GHERARDI, P.C. COUNSEL THOMAS S. TYCZ* SENIOR POLICY ADVISOR *NOT AN ATTORNEY April 22, 2008 ELECTRONIC FILING Marlene H. Dortch, Secretary Federal Communications Commission 445 12th Street, SW Washington, DC 20554 Re: Broadband Industry Practices, WC Docket No. 07-52 Dear Ms. Dortch: On April 21, on behalf of Vuze, Inc. (“Vuze”), the undersigned e-mailed the attached material to Aaron Goldberger and Ian Dillner, both legal advisors to Chairman Kevin J. Martin. The material reflects the results of a recent study conducted by Vuze, in which Vuze created and made available to its users a software plug-in that measures the rate at which network communications are being interrupted by reset messages. The Vuze plug-in measures all network interruptions, and cannot differentiate between reset activity occurring in the ordinary course and reset activity that is artificially interposed by a network operator. While Vuze, therefore, has drawn no firm conclusions from its network monitoring study, it believes the results are significant enough to raise them with network operators and commence a dialog regarding their network management practices. Accordingly, Vuze has sent the attached letters to four of the network operators whose rate of reset activity appeared to be higher than that of many others. While Vuze continues to believe that Commission involvement in this Marlene H.
    [Show full text]
  • Banco BPI 2003
    Banco BPI 2003 Report Index REPORT Leading business indicators 4 Introduction 6 Governing bodies 13 Historical milestones 14 The identity of BPI 16 Financial and business structure 17 The BPI Brand 18 Distribution channels 20 Corporate Governance at the BPI Group 22 Social investment 24 Highlights of 2003 26 Background to operations 28 Human resources 36 Technology 40 Operations 43 Commercial banking 44 Insurance 69 Asset Management 70 Investment banking 76 Private equity 81 Financial Review 84 Risk management 127 Rating 144 BPI Shares 146 Shareholders 149 Shareholders value creation 150 Final acknowledgements 151 Proposed appropriation of net profit 152 CONSOLIDATED FINANCIAL STATEMENTS AND NOTES Consolidated financial statements 153 Notes to the consolidated financial statements 160 Legal certification of accounts and audit report 224 Auditor’s report 226 Report and opinion of the Audit Board 227 ANNEXES The BPI Group's Corporate Governance Report 229 Trading information 291 Leading business indicators (Consolidated figures in millions of euro, except where indicated otherwise) 1999 2000 2001 2002 2003 ∆% 02 / 03 Total assets 16 550.5 21 907.4 24 792.9 25 669.1 26 195.3 2.0% Total assets plus disintermediation 20 753.3 26 331.3 29 098.3 29 576.9 30 533.1 3.2% Shareholders’ equity 650.7 930.0 908.7 1 168.9 1 227.3 5.0% Loans to Customers (gross) and guarantees 12 023.4 16 542.8 18 768.9 19 738.0 20 690.1 4.8% Customer deposits 9 458.5 10 463.7 11 494.3 12 224.6 12 181.4 (0.4%) Total Customer resources 14 801.2 16 507.8 17 392.9 17 690.3
    [Show full text]
  • Fiber to the Premises by Country from Wikipedia, the Free Encyclopedia
    Fiber to the premises by country From Wikipedia, the free encyclopedia This article lists the deployment of fiber to the premises, fiber to the home and fiber to the building by country. Africa Contents Kenya 1 Africa In Kenya, the home entertainment and communication services provider, Zuku, offers fiber-based Triple-Play [1] bundle (Broadband Internet, TV and phone) packages at speeds of 1, 10, 20 and 50 Mbit/s in most areas of 1.1 Kenya Nairobi and Mombasa.[2] 1.2 Mauritius Another fiber service is Faiba provided by Jamii Telecommunications Ltd.(JTL).[3] They offer packages at speeds of 5, 10, 15 and 20 Mbit/s for residential customers[4] and 3, 6, 9, 12 and 15 Mbit/s for businesses.[5] 1.3 South Africa 34 out of the 47 counties of Kenya have been connected to the National Optical Fibre Backbone Infrastructure 1.4 Tanzania (NOFBI).[6][7][8] 1.5 Zimbabwe Mauritius 2 Asia As of June 2016, in terms of percentage of fibre penetration, Mauritius was ranked first in Africa and 16th in 2.1 Brunei the global ranking worldwide, ahead of developed countries, such as USA, France and Germany. In Mauritius, 2.2 China two ISPs are currently providing FTTH. They are Mauritius Telecom[9] and Bharat Telecom Ltd,[10] with internet speeds of 10, 20, 30 and 100 Mbit/s. 2.2.1 Hong Kong South Africa 2.3 India Link Africa (formerly i3 Africa) announced plans to construct a FTTH network in South Africa covering 2.5 2.4 Indonesia million premises in six cities (Durban, Cape Town, Johannesburg, Port Elizabeth, Bloemfontein, and Pretoria) by 2016 with minimum connection speeds of 100Mbit/s.
    [Show full text]
  • Europa Multimedialna 2
    RADOSŁAW SAJNA EUROPA MULTIMEDIALNA 2 Książka ta jest nowoczesną, tj. ekonomiczną, ekologiczną i multimedialną wersją (wydanie elektroniczne free e-book on-line + wydanie drukowane, gł. dla bibliotek uniwersyteckich i na potrzeby własne autora) pierwszej części opracowania pt. „Europa multimedialna. Media – dziennikarstwo i prawo – kinematografia” (R. Sajna, J. Taczkowska, M. Guzek), zrecenzowanego przez dr hab. Alicję Jaskiernię, prof. UW, na zlecenie Wydawnictwa Naukowego PWN w 2010 roku. W niniejszej wersji autor naniósł poprawki zasugerowane w recenzji i dołożył wszelkich starań, by opracowanie to spełniało wszelkie normy osobnej publi- kacji naukowej. Kopiowanie jakichkolwiek fragmentów treści tej książki (zarówno z wydania drukowanego, jak i elektronicznego) zabronione! Odwoływanie się lub cytowanie fragmentów treści tej książki dozwolone, pod warunkiem podania źródła w przypisie. 2 3 Radosław Sajna EUROPA MULTIMEDIALNA Od Acta Diurna do Europa.eu Bydgoszcz 2011 3 4 © Copyright by Radosław Sajna ISBN 978-83-932455-4-3 Wydawca: Stowarzyszenie Wyższej Użyteczności Publicznej Instytut Naukowo-Badawczy „Moveable” Bydgoszcz 2011 Redakcja i korekta: Zespół IN-B „Moveable” 4 5 SPIS TREŚCI Wstęp 7 Rozdział 1. Rozwój prasy drukowanej w Europie 13 1.1. Acta Diurna , Gutenberg i pierwsze periodyki 13 1.2. Początki wolnej prasy i rozwój prasy politycznej 19 1.3. Telegraf, agencje informacyjne i prasa jako biznes 25 1.4. Specjalizacja prasy drukowanej i kształtowanie się systemów prasowych 32 1.5. Współczesna prasa opiniotwórcza w europejskich demokracjach 41 1.6. Prasa ekonomiczna, tabloidy i kolorowe magazyny – biznes prasowy we współczesnej Europie 53 1.7. Decentralizacja państw i „Europa stu flag” – prasa regionalna i lokalna 65 Podsumowanie 76 Case Study 1. „Avui”, „El Correo” i „La Voz de Galicia” – hiszpańskie dzienniki regionalne a nowoczesny regionalizm europejski 77 1.
    [Show full text]
  • Interim Report
    Altice S.A. (Société anonyme) Interim Financial Report L-2449 Luxembourg, 3, boulevard Royal R.C.S. Luxembourg number B 183.391 Table of contents Interim Management Report 2 Statement of Responsible Persons 23 Condensed consolidated financial statements as of and for the three and six month periods ended June 30, 2014 24 Condensed Consolidated Statement of Income 25 Condensed Consolidated Statement of Other Comprehensive Income 26 Condensed Consolidated Statement of Financial Position 27 Condensed Consolidated Statement of Changes in Equity 29 Condensed Consolidated Statement of Cash Flows 31 Notes to the Condensed Consolidated Financial Statements 33 Review Report of the Réviseur d’Entreprises Agréé 77 1 INTERIM MANAGEMENT REPORT (AS AND FOR THE 6 MONTHS ENDED JUNE 30, 2015) Introduction The Board of Directors of Altice S.A. (the “Company” or “Altice”) has the pleasure in presenting its interim report, which constitutes the interim management report (“Interim Management Report”) as defined by the Luxembourg law dated 10 August 1915 concerning commercial companies as amended, together with the audited condensed consolidated financial statements of the Company and its subsidiaries (the “Group”) as at and for the three and six months periods ended June 30, 2015. This report, along with the condensed consolidated financial statements, form the Interim Financial Report of the Company. The Creation of Altice Altice is a public limited liability company (Société Anonyme) incorporated in the Grand Duchy of Luxembourg whose head office is in Luxembourg and was formed on January 3, 2014. On January 31, 2014, the Company successfully listed its shares on the Amsterdam stock exchange (Euronext Amsterdam) at an offer price of € 28.25, for a total primary offering amount of € 750 million and a secondary offering of € 555 million (not including a green shoe of approximately €196 million).
    [Show full text]
  • Descarga Del Libro Verde Canales Temáticos (PDF | 3
    CUBIERTAS C TEMATICOS 11/9/06 20:20 Página 1 01 INTRODUCCION 8/10/06 19:33 Página 1 01 INTRODUCCION 18/10/06 23:19 Página 2 “...llegaste temprano demasiado temprano a una muerte que no era la tuya y que a esta altura no sabrá que hacer con tanta vida.” M. Benedetti Dirección de Proyecto: Carlos Lamas Alonso y Jesús Pascual Adrián Coordinación: Ignacio González Corral y Joaquín García Gil Comité de redacción: Claire Benatar. Eurosport Cristina Gómez Corregidor. FOX International Channels Cristina González Martín. Sogecable Media David Gómez Soler. TEUVE Edurne Ruiz de Arcaute Martínez de Ibarreta. JETIX Eloísa Rodríguez Gómez. Discovery Networks Fernando Hernaiz Sobrino. Walt Disney Television Fernando Santiago Ceballos. RTVE José de Isasa Fereres. Sony Pictures Television International Mar Camps Guerrero. Digital + Marta Castán Vidal. Turner Broadcasting System Nuria González Lucas. Televisa Pablo Escarabajal Sánchez. MTV Networks Raquel Beato Crespo. NBC Universal Global Networks S.L. Raquel López Vázquez. Multicanal Susana Perrote Martín. Cosmopolitan TV Colaboradores: Ana Santos Rojo Antonio Roger Márquez Inmaculada Vilariño Rodríguez Marta Almendral Morán Nerea Pascual Iribarren Reyes Martos López Sonia Pérez Gómez ISBN: 84-611-3249-1 Depósito Legal: M-42.722-2006 Imprime: Realigraf, S.A. Pedro Tezano 26, 28039 Madrid. Diseño y Maquetación: RIVER 01 INTRODUCCION 8/10/06 19:33 Página 3 canales temáticos ´05 3 01 INTRODUCCION 8/10/06 19:33 Página 4 01 INTRODUCCION 8/10/06 19:33 Página 5 Índice Introducción 7 Cap. 1. Los Canales Temáticos y la comunicación publicitaria 13 Cap. 2. El panorama internacional de los Canales Temáticos 41 Cap.
    [Show full text]