Subex launches integrated bypass fraud solution

The solution seamlessly integrates the Test Call Generator approach with Subex's ROC fraud management solution combining the strengths and eliminating the weaknesses of each individually, Subex said.

Subex, a leading global provider of business support systems for communications service providers (CSPs), announced that it has launched its "integrated bypass fraud solution".

"The solution has been introduced to combat the growing threat of bypass fraud and help CSP's more proactively reduce fraud losses", the Bangalore-headquartered company said in a statement.

The solution seamlessly integrates the Test Call Generator (TCG) approach with Subex's ROC fraud management solution combining the strengths and eliminating the weaknesses of each individually, the company said.

"The fraudulent SIM box numbers detected by the TCG are then put into the ROC FMS, which performs near real time xDR, subscriber, dealer and location analysis", it said. "Rather than targeting individual connections, this helps identify the whole bypass racket, which is faster than traditional methods involving more manual efforts".

The fraud management solution also provides feedback on new routes and traffic quantity of existing routes to the TCG, ensuring complete coverage and elimination of bypass fraud, the statement added.

In the early afternoon, Subex was trading at around Rs27.60 per share on the Bombay Stock Exchange, 1.95% down from the previous close.

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Suzlon arm REpower wins UK projects

Armistead wind farm will have a rated output of 12 megawatts (MW) and will generate enough electricity to power the equivalent of nearly 7,000 homes annually.

Suzlon Group-subsidiary, REpower Systems SE, has signed contracts to supply wind turbines for two wind farms in England - Armistead and Carsington Pasture.

Armistead wind farm in South Cumbria is owned by Banks Renewables, and will see six REpower MM82 machines installed. Carsington Pasture wind farm is owned by independent power generation company, International Power, and will consist of four MM82 wind turbines. The MM82 turbines have a rated output of 2.05 MW each.

Armistead wind farm will have a rated output of 12 megawatts (MW) and will generate enough electricity to power the equivalent of nearly 7,000 homes annually.

The four turbines at 8.2MW Carsington wind farm will in total generate enough electricity to power the equivalent of at least 4,500 homes annually.

The construction is due to start in summer 2012 for Carsington Pasture. Both Armistead and Carsington Pasture are expected to be completed in early 2013.

Phil Dyke, development director of Banks Renewables, said: “The REpower turbines we've specified provided the optimum solution for the Armistead scheme, and we're pleased to continue to have the company's support in our drive towards becoming one of the UK's leading owner/operators of onshore wind farms.”

Rick Eggleston, managing director of REpower UK, commented: “I am pleased to announce the closure of these contracts. Armistead wind farm demonstrates our ongoing relationship with Banks Renewables and south Cumbria is the ideal location for our MM82 machine. We are delighted to have signed – after Flimby – a second project with our customer, International Power, and we look forward to working with them.”

REpower's first project with International Power was signed at the end of 2011. Flimby wind farm will consist of three MM82 and is scheduled for completion at the end of 2012.

Since its launch in 2004, REpower UK has delivered 37 onshore wind farms in Scotland, England and Wales and two offshore wind farms: Project Beatrice in the North Sea and its largest offshore contract to date in the UK is the Ormonde wind farm, owned by Vattenfall. This offshore wind farm in the Irish Sea consists of the 30 REpower 5M wind turbines with a total rated output of 150 MW.

In the early afternoon, Suzlon Energy was trading at around Rs29.55 per share on the Bombay Stock Exchange, 1.50% down from the previous close.

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Mutual fund assets rose 2% to Rs6.75 trillion in February: Crisil

Owing to the uptick in the equity market, assets of equity funds rose by Rs61 billion to Rs1.86 trillion.

The mutual fund industry's assets increased to Rs6.75 trillion by the end of February 2012, registering an increase of Rs161 billion over Rs6.59 trillion in January.

According to Crisil Research, the 2% month-on-month rise in mutual fund assets in February 2012 was largely due to mark-to-market gains notched by equity funds and inflows witnessed in money market funds.

Owing to the uptick in the equity market, assets of equity funds rose by Rs61 billion to Rs1.86 trillion.

The benchmark S&P rose around 4% in February on the back of persistent foreign institutional investor (FII) inflows and firm global cues.

FIIs bought equities worth Rs252 billion in February, the highest monthly net buying since records are available and compared to Rs111 billion in January, Crisil Research said.

The equity funds category, however, saw outflows of Rs28 billion in the month, possibly due to redemptions by investors aiming to lock gains.

“This was the second consecutive month of outflows in the category as investors booked profits on recent gains in the market,” the report said.

The inflow into liquid funds was another positive factor for mutual funds assets. The category saw net inflows of Rs69 billion in February 2012, taking the total asset tally for the category to Rs1.57 trillion (up 6.5%) by February end.

Income funds, another type of debt-focussed mutual funds, witnessed outflows for the fourth consecutive month. These outflows were the second biggest drag on overall mutual fund industry assets in February.

In February the segment witnessed an outflow of Rs25 billion taking the total net outflows in the past four months in the category to Rs226 billion.

“Redemptions from the ultra short-term debt and short-term funds in this category could be a reason for the outflows as investors shift their preferences to long-term debt funds due to peaking of interest rates,” the report said.

Fixed maturity plans (FMPs) continued to garner majority of the new fund offers (NFOs) in the month. As many as 64 FMPs were launched in the month, garnering Rs113 billion.

An analysis of month-on-month mutual fund flows and AUM distribution, shows that so far this year money market funds, gilt funds and gold ETF funds witnessed net inflows of Rs332.89 billion, Rs4.33 billion and Rs1.67 billion respectively.

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