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| Reuters And Cyber Gear In Joint Sales Venture |
2/9/1999 DUBAI, UNITED ARAB EMIRATES - February 9, 1999 (Press Release Network): Reuters, the leading international business information provider, and Cyber Gear LLC, one of the leading companies in the Gulf for the design and promotion of Web sites, have formed a sales partnership to promote Internet based information services. Usage of the Internet is developing very fast in the Gulf region, and Reuters is launching a new range of information products using the latest Web technology to build a strong new market. Daniel Pujol, Business Development Manager for Business Information Products Gulf said, "Both companies are complementary. Cyber Gear has expertise in the design of Web technology solutions for government & private corporations and trading & financial institutions which are most likely to take advantage of our new range of financial information services." Jean-Paul Mergeai, Marketing Manager, Reuters Gulf added, "Reuters offers a series of standard solutions for professionals in the banking and corporate sectors based on intranets and the public Internet. Our intranet solutions are targeted at the banking sector where a growing number of institutions have developed their own internal communication system (intranet) and where we can market our financial services to anyone connected on their internal network. We provide financial data on foreign exchange, share prices, news and more general information. Our Internet strategy for corporations is to offer information services to web sites whose visitors will be attracted by Reuters unrivalled news coverage and pictures. We are also entering in distributor relationships with our traditional customers in the banking sector by offering them turnkey services to be made available on their Web sites. The Reuters Online Investor offers delayed share prices, company news, chart analysis and portfolio valuation services aimed at the private investor." According to Mr. Sharad Agarwal, Managing Director of Cyber Gear, "We see a tremendous opportunity in the Gulf region for value added web sites. One sure way of attracting repeat visitors to a web site is to offer unique and dynamic content such as a news channel. The major advantage of having valuable updated news or photos on a Website significantly enhances the value of such sites with Internet surfers coming back to the same site and therefore contributing to the brand building exercise. Our partnership with Reuters will enable local organisations in the region who are setting up virtual storefronts for E Commerce to implement our portfolio of information services. Currently, there are over 1,500 web sites in the Gulf countries alone and we are aiming to have 10% of the market over the next 18 months. We will also be demonstrating our news services at The Internet World Middle East exhibition being held in Abu Dhabi from 22-24 February 1999. A Website could show for instance the latest business news from the Middle East or latest sports news. We can easily match the news contents based on the clients unique business requirements." Some of the most visited Web sites already use Reuters news. The most famous are Yahoo and Infoseek and their share prices skyrocketed over the last few months. About Reuters : Reuters supplies the global financial markets and the news media with the widest range of information and news products including real-time financial data, collective investment data, numerical, textual, historical and graphical databases plus news, graphics, news video, and news pictures, reaching 457,000 users located in 57,200 organisations. Reuters designs and installs enterprise-wide information management and risk management systems for the financial markets as well as providing equity and foreign exchange transaction systems. It extensively uses Internet technologies for wider distribution of information and news. The Group employed 16,699 staff in 215 cities in 91 countries at 30 June 1998. Reuters is the world's largest news and television agency with 2,035 journalists, photographers and camera operators in 169 bureaux serving 163 countries. News is published in 25 languages. |
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