Quebec firm wins Chinese ID card deal

Article Abstract:

Labcal Technologies Inc. (Quebec City) will provide 20,000 of the cell-phone-sized readers over the next year to Global Magnetic Card Co. (Tianjin) in a $12-million deal. GMCC is Asia's biggest smartcard manufacturer and is supplying Beijing with the plastic on which citizens' fingerprints and other information will be encrypted. However, Labcal also said it has a longer-term cooperation agreement with GMCC that could boost its sales by up to $100-million over the next three years. The first contact between the company and GMCC came as a result of a Quebec government trade mission to China in 1997. Biometrics technology has enabled companies to develop systems that can verify individuals' identities by digitalizing and then encrypting on cards unique personal characteristics such as voiceprints or fingerprints.

Computer Services, Computer Systems Design and Related Services, Computer and Data Processing Services, Computer services industry, Information technology services industry, Information technology services, Labcal Technologies Inc.

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U.S. card issuer pitches deal to Air Canada

Article Abstract:

Canadian Imperial Bank of Commerce may sell exclusive rights to Air Canada's frequent flyer program to Wilimington, Del.-based MBNA Corp., which is a leading credit card company. Air Canada, which filed for bankruptcy protection in early April, must have the deal approved by the Ontario Superior Court.

United States, Acquisitions & mergers, Banking industry, Mergers, acquisitions and divestments, Company acquisition/merger, Airlines, Frequent flyer programs, Canadian Imperial Bank of Commerce, Air Canada, MBNA Corp., KRB

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Quebec raids chase missing millions

Article Abstract:

The details Autorite des marches financiers' investigations on misappropriation of funds by Norbourg Asset Management Inc. are examined.

Legal issues & crime, Financial Services, Finance and Insurance, DEPOSITORY INSTITUTIONS, Company legal issue, Financial services industry, Investigations, Embezzlement

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