SA economy: recovery in sight

first_img19 August 2009 Fourth-quarter growth expected The main contributors to the second-quarter decrease in economic activity were the manufacturing industry (-1.6 percentage points), and the wholesale and retail trade and hotels and restaurants industry (-0.6 of a percentage point). “It is expected to stabilise next quarter, and move back into growth by the fourth quarter, making it unlikely that the full-year decline will be as bad as the two percent plus that more pessimistic economists had predicted,” the business daily said. “The seasonally adjusted real GDP at market prices for the second quarter of 2009 decreased by an annualised rate of three percent compared to the first quarter’s 6.4%,” Statistics South Africa (Stats SA) reported on Tuesday. Business Day said on Wednesday that when the year’s first-half figures were compared with those of last year, economic growth was down by only two percent. This was despite the South African Reserve Bank having cut interest rates by a cumulative five percent since December last year. Consumers ‘reluctant to spend’ Construction, mining growth While South Africans had more disposable income following the rate cuts, they were either still reluctant to spend or were servicing their debts, Stats SA’s Kedibone Mokone told Business Report. South Africa’s gross domestic product (GDP) growth contracted by three percent in the second quarter of 2009, indicating that the economy is still in recession, but with signs that a recovery is in sight. Stats SA said the increase in mining and quarrying in the second quarter was due to an increase in the mining of other metal ores, including platinum, and other mining and quarrying, including diamonds. Analysts interviewed by Business Report said the GDP data suggested that South Africa’s economy was still struggling, despite the easing in monetary policy. Industries that contributed to positive second-quarter growth included construction (+0.5% of a percentage point), general government services and mining and quarrying (each contributing +0.3% of a percentage point), as well as personal services (0.1% of a percentage point), Stats SA reported. “The data backs up suggestions from Central Bank governor Tito Mboweni and Finance Minister Pravin Gordhan that any recovery in South Africa’s economy will lag others, after several developed countries recorded second-quarter growth,” the paper said. The finance, real estate and business services, and the agriculture, forestry and fishing industries also contributed to the drop in GDP growth. Mining and quarrying were among the main contributors to the first-quarter GDP contraction. Nedbank economist Nicky Weimer told BuaNews that the figure had been expected by the market. “Overall it is still a weak number,” Weimer said. “However, the good news is that the contraction is at a slower pace.” SAinfo reporter and BuaNewsWould you like to use this article in your publication or on your website? See: Using SAinfo materiallast_img read more

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Business Bill to be revamped: Davies

first_img16 May 2013South African Trade and Industry Minister Rob Davies says his department has considered the concerns raised by businesses on the Licensing of Businesses Bill and that when the draft law is presented to Parliament again it will be “significantly different”.The Bill was put out for public comment in March, and the comments period came to an end last month.Addressing a media briefing in Parliament in Cape Town on Wednesday, Davies also stressed that there was no provision in the Bill that targeted foreigners.However, he said, his department would not scrap the Bill, saying it was designed to combat the significant illicit economy that was operating in South Africa’s urban and peri-urban areas, and which posed a serious a threat to small businesses in the country.“This is the economy of illegal imports, this is the trade in sub-standard products, this is the economy of people who don’t pay their VAT … and they then compete unfairly with people who do observe these requirements – that is the economy that is there.”Davies said business associations continually called on his department to shut down such operators, and the Bill would help to tackle this problem. Raids, he said, often proved fruitless as such operators soon resurfaced somewhere else.“It never was our intention to have an onerous registration process, which requires business people themselves to do a lot of things,” he said.The idea is to have municipalities, in the course of registering people for all kinds of services, to then forward these names to a national database.The department also wanted a database containing those found to be involved in illegal activities; transgressors could be then excluded from operating in South Africa.Davies said that in South Africa, five out of seven small businesses failed in their first year of starting up, compared to a 50% failure rate internationally.Business regulations were not the main reason for this, he said. Rather, the country’s high business failure rate was more a result of black entrepreneurs having been actively undermined and business ownership by black people outlawed during apartheid.The state, Davies argued, should not only remove red tape but also ensure that it offered active support to small businesses, for example through incentives and incubation.He said there was a tendency to see any kind of regulation as “red tape”, whereas there was a distinction between red tape, which was bureaucratic and unnecessary, and regulation which was needed for good reason.The department was moving to reduce red tape, he said; the new Companies Act made it easier for small companies to do business by removing some accounting and audit requirements.Added to this, he said, when the BEE Bill is passed into law large, companies will no longer have to compel their black small suppliers to get BEE verification, as this will be replaced by having such suppliers sign an affidavit to attest to their BEE status.Source: SAnews.gov.zalast_img read more

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9 months agoJuventus lodge new appeal for 2005/06 Serie A title removed from Inter Milan

first_imgTagsTransfersAbout the authorCarlos VolcanoShare the loveHave your say Juventus lodge new appeal for 2005/06 Serie A title removed from Inter Milanby Carlos Volcano9 months agoSend to a friendShare the loveJuventus have lodged a new appeal to have the 2005/06 Serie A title removed from Inter Milan.During the Calciopoli scandal of 2006, Juve had two Scudetti revoked – the 2004/05 title went unassigned, while the 2005/06 title was handed to third-place Inter.This was due to AC Milan, who had finished second, also being docked points in the trial, along with Lazio, Fiorentina, Reggina and Arezzo.Juventus have had several appeals rejected to have the titles returned, or at least the later trophy taken away from Inter.On Saturday, Juve formally lodged another appeal with the Collegio di Garanzia dello Sport tribunal. last_img read more

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Kentucky’s Willie Cauley-Stein On Arkansas, “We Don’t Like That Team”

first_imgWillie Cauley Stein warms up for Kentucky.Prior to Sunday’s SEC Tournament championship game, Arkansas’ players did some trash talking to their opponent, Kentucky. They reportedly got in the Wildcats’ faces in a Bridgestone Arena tunnel and Razorbacks’ forward Bobby Portis said being able to play UK was like getting a wish granted. The fervor Arkansas’ players have for Kentucky is a feeling that is apparently replicated by the Wildcats’ players. Following his team’s victory against the Razorbacks, Kentucky junior center Willie Cauley-Stein said “we don’t like that team,” referencing Arkansas. Wow. Willie keeping it REAL. “We don’t like that team.” Said winning title was one thing, but they just wanted to beat “that team.”— Ashley Scoby (@AshleyScoby) March 15, 2015Willie Cauley-Stein after the game re: Arkansas, “Straight up, we don’t like that team.”— Brett Dawson (@BDawsonRivals) March 15, 2015Full WCS quote on not liking “that team” pic.twitter.com/EoGtkE2VTJ— Ashley Scoby (@AshleyScoby) March 15, 2015It’s not often that you see college basketball players openly discussing their dislike for another team, but we love it. Kentucky and Arkansas will learn their place in the NCAA Tournament at 6 p.m. E.T. on CBS.last_img read more

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Labour Force Being Equipped With In-Demand Skills

first_imgStory Highlights As such, he said that strategic partnerships have been forged with the Jamaica Manufacturing Association (JMA) and the Business Process Industry Association of Jamaica (BPIAJ) to aid in the setting up of a Sector Skills Council. Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Hon. Daryl Vaz, says the Government is working to ensure that the local labour force is equipped with the skills that are demanded by investors.As such, he said that strategic partnerships have been forged with the Jamaica Manufacturing Association (JMA) and the Business Process Industry Association of Jamaica (BPIAJ) to aid in the setting up of a Sector Skills Council.Mr. Vaz said that establishment of the body is part of recommendations arising from the Labour Market Forum held in April through contribution from the Inter-American Development Bank (IDB).He informed that apprenticeship programmes will be created with support from the private sector “to address skill gaps experienced by employers (which) will lead to greater employment”.Mr. Vaz was speaking at the official opening of Honey Bun Limited’s new US$1-million warehouse facility, at its Retirement Crescent headquarters in Kingston on May 3.He said that the Government is continuing its pursuit of policies that will boost job creation and economic growth.“These policies are (already) bearing fruit as unemployment continues to trend downwards. In January this year, the unemployment rate was 9.6 per cent, the lowest it has been for at least a decade. This figure represents a decrease of 3.1 per cent when compared to 12.7 per cent in 2017,” he indicated.Minister Vaz commended Honey Bun on the new facility, which, he said, “signals the confidence of the private sector in the economy”.The 11,500 square-foot space, built on the site of the former studio of veteran Reggae Producer, Joe Gibbs, will enable Honey Bun to increase production and exports as well as boost employment by 100 persons.Honey Bun Executive Chairman, Herbert Chong, said that the new warehouse will enable the company to operate at maximum capacity “utilising every inch of space in the most effective way”.It has been named in honour of the company’s late non-executive Board member and mentor to the Board, Sushil Jain.Founded in 1982, Honey Bun is the fastest-growing wholesale bakery in Jamaica, specialising in producing packaged pastries and baked snacks.It is the first Jamaican bakery to be Hazard Analysis and Critical Control Points (HACCP)-certified, and became publicly listed on the Jamaica Junior Stock Market in 2011.Mr. Chong said that through the junior market the company has been able to realise “many of its accomplishments”. Mr. Vaz said that establishment of the body is part of recommendations arising from the Labour Market Forum held in April through contribution from the Inter-American Development Bank (IDB). Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Hon. Daryl Vaz, says the Government is working to ensure that the local labour force is equipped with the skills that are demanded by investors.last_img read more

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Samir will remain at Udinese until 2023

first_imgThere is an official statement from Udinese that the Brazilian international playing for them, Samir Caetano de Souza Santos has extended his contract with the club until 2023.Samir, the Brazilian center-back had joined Udeinese from Flamengo, and has since become a significant feature for the club after he had spent a period of loan at Verona an also Italian club. He has supported the defense of Udinese after he picked up a steady role from them after his return from being loaned to Verona.“Samir and Udinese go forward together,” a statement on the club website stated, according to Football Italia.Cristiano Ronaldo, JuventusSerie A Betting: Match-day 3 Stuart Heath – September 14, 2019 Considering there is a number of perfect starts so early in the Serie A season, as well as a few surprisingly not-so perfect ones….“General manager Franco Collavino and technical director Daniele Pradè announced the extension of the Brazilian defender Samir, who has reached 56 appearances with the Bianconeri.”This means that Samir’s contract has moved on to 2023. He will stay on with Udinese until the time to contribute his ability to their side in the Serie A.last_img read more

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Public Hearing On Hospital Boundary In Homer This Evening

first_imgBagley:“since hospital service area boundaries should reflect the usage of the communities they serve, it makes sense to examine them periodically to allow for changes.” Residents of Ninilchik tend to use CPH more often than SPH, and so shouldn’t have to pay the higher mill rate for the South Peninsula Hospital Service Area, according to the ordinance. The common boundary between the two hospital service areas has, since their inception, crossed the Sterling Highway at the Clam Gulch Tower, which is about 14.5 miles closer to Central Peninsula Hospital (“CPH”) than the roadway midpoint. Facebook0TwitterEmailPrintFriendly分享The Kenai Peninsula Borough Assembly will be holding a special session this evening, in Homer, on a proposal to move the boundary between Central Peninsula Hospital and South Peninsula Hospital.center_img The ordinance was introduced by Assembly member Dale Bagley: “It can be safely assumed that the vast majority of the people living in the Ninilchik area and north to the current boundary routinely use CPH instead of SPH. In my view, those people should not pay taxes for the SKPHSA which are much higher than taxes paid for the CKPHSA. I believe this is an issue of fairness. The line between the CKPHSA and the SKPHSA should be moved to the south side of Ninilchik.” Central Peninsula residents can call in to testify during the meeting in Homer this evening, at 6pm, by calling 714-2169.last_img read more

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You Bought a Print Magazine in 2017

first_img Miller: The answer is, probably not in print. We are looking to diversify our digital properties and bring them into other markets. Not necessarily in the LGBTQ space, but in some of our other businesses. Where we’ve fallen short is in digital, so we’re really positioned in the acquisition by Davler to become the number one player across the board in the LGBTQ space. Miller: Rob has done events. He’s taken a year or two off but we’re planning to bring them back. Miller: The biggest one — we recently made another acquisition of a business called Mommybites. It’s folded into our Parenting division. It’s basically a job board online for nannys, babysitters and moms that are looking for jobs. That’s already a national property as well, but not from the job board standpoint. We distribute national content and hold national education events. Now we’re looking to take our job boards and role that out nationally. That’s the one that’s furthest along in development. Folio: Is Davler looking to expand across the country with any other publications, now that you have an LA and a national magazine? Folio: What are your digital ad products? What’s available to marketers? Rob Davis: In these days of increasing desire by advertisers to go digital with their advertising buys, we really had been looking for a partner that could help us branch out in the digital world, and who had larger resources than what we were able to do as a smaller, independent company. This partnership is something that helps us go much further than we could go on our own. So why buy a niche brand like this in a market that’s moving away from tactile media products? Miller: That’s a hard one. Right now I can say that all of our print media are reasonably stable, and I think they’re reasonably stable because we’re very niche, we’re very targeted, and we still give people useful information in a print format that is digestible and helpful. Are things shifting digitally? Of course they are. One of the things about Metrosource that we really liked is that over the years, Rob has built a really strong directory component in the back. So it really is a way for readers and consumers to find doctors, and wedding venues, or gyms that really serve that community. In that regard, it’s very consistent with all of our other media and a perfect fit. All of our properties take an integrated approach — print, digital, and events — to provide consumers a targeted information source…The beauty of it is that it delivers a very efficient vehicle for our advertisers to reach those markets. They can buy an integrated program. So, the LGBTQ community has some common attributes to that. This is a community, the data shows, that has a real interest in doing business with companies that are sensitive and support the LGBTQ community. Davler CEO David Miller, left, and Metrograph publisher Rob Davis, right. It’s 2017 and Davler Media just bought three print magazines. First launched in 1990, Metrosource is an upscale brand directed at professionals in the LGBTQ community. With editions in NYC and LA, as well as a national publication, Metrosource has a combined circulation of 235,000 in print, which is also where most of its revenues come from. Folio: Rob, why was now a good time to sell Metrosource? Folio: So is print advertising the main revenue source at Metrosource? Folio: sat down with Davler CEO David Miller, and Rob Davis, longtime owner of the magazine and now its publisher, to find out what’s in store for the magazine. All of the hype in the news about gay rights, gay marriage — it’s been a very big topic — that has brought some advertisers out of the woodwork. We’re poised even more so with the Trump administration. We’re a vehicle to embrace diversity, so companies that are looking to show their support are interested more than ever in these more upscale publications. Folio: How has your advertising been affected since LGBTQ coverage has become more mainstream? Has that affected your revenues at all? Davis: When I started Metrosource, there were no publications geared toward the LGBTQ community that weren’t sexually explicit. I saw this incredible need for people in our community — professionals — who were looking for something else. Our first issue came out in 1990 and it was just overwhelmingly embraced by the local market. It became a great opportunity for national advertisers to finally come into a publication where they could show their support of the gay market and be proud of the content that they were next to. That just didn’t exist prior to the first issue of Metrosource. Folio: What did Davler see in Metrosource as a publication? We realized there was a real need and desire for the rest of the country to get the same type of content…So 10 years after Metrosource began, we launched our national edition, and then in 2004, I went to Los Angeles to get Metrosource LA off the ground. We’re the number one print publication in those two markets among any media, regional or national. Folio: As you move your focus toward digital assets, what role do you see print having in the next 10, 20 years? Davis: Because of the niche, there are so many companies that want to reach this audience. You’re right in that it’s become more and more accepted among mainstream advertisers; and they had really limited options of the places they could go into. David Miller: We have four other divisions [tourism, parenting, design, and bar/bat mitzvahs] and the commonality in all of them is that our media is almost exclusive New York focused, though not 100 percent. One of the nice things about Metrosource is that it does branch us out beyond New York, but it’s strong in New York. Miller: At the moment, yes. It’s almost exclusively print. Folio: Does Metrosource have any events? I can’t tell you what 10 years looks like, but hopefully I’ll be a grandfather.last_img read more

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A Fifth Boy Is Reportedly Rescued From Thai Cave After Being Trapped

first_img Share Lillian Suwanrumpha/AFP/Getty ImagesPolice and military personnel use umbrellas to cover a stretcher as it is carried to a helicopter from an ambulance at a military airport in Chiang Rai, Thailand, on Monday, as rescue operations continue for those still trapped inside the cave in Khun Nam Nang Non Forest Park in the Mae Sai district.Emergency crews in Thailand have reportedly brought another member of a soccer team to safety, weeks after 12 boys and their coach were trapped in a flooded cave network. The Associated Press reports an ambulance was seen leaving the area on Monday.The apparent rescue comes one day after the first four members of the team were saved, in a complicated and hours-long process that includes the use of multiple divers and a system of air tanks stashed along the escape route.The boys, ranging in age from 11-16, have been trapped in the cave system since June 23, after heavy rains flooded the network. Authorities say they want to get them out now, with the threat of more rain looming.“All conditions are still as good as they were yesterday,” Chiang Rai acting Gov. Narongsak Osatanakorn said, as relayed by the AP. “The boys’ strength, the plan — today we are ready like before. And we will do it faster because we are afraid of the rain.”A deluge could overwhelm efforts to lower water levels in the caves – more than 32 million gallons of water were pumped out after the boys were found last Monday.Giving an update on the four boys who were pulled from the cave on Sunday, Narongsak said, “This morning they said they were hungry and wanted to eat khao pad grapao” — a popular Thai rice dish of meat stir-fried with basil and chili peppers.Copyright 2018 NPR. To see more, visit http://www.npr.org/.last_img read more

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Food and hotel industry converge at AAHAR 2017

first_imgSouth Asia’s largest food and hospitality show AAHAR, now in its 32nd edition, will run from March 7–11 at Pragati Maidan. Aahar has become a well known and globally acclaimed brand over the years. The show is organised by India Trade Promotion Organisation with the active support of Ministry of Food Processing Industries, Government of India and the Agricultural and Processed Food Products Export Development Authority (APEDA), along with leading trade associations. Also Read – Add new books to your shelfAAHAR 2017 will be inaugurated by the Hon’ble Minister for Food Processing Industries, Government of India, Harsimrat Kaur Badal, today at 10am. For the first time, three foreign Ministers will grace the occasion of the inaugural ceremony. These include: HE Lawrence MacAulay, Canadian Federal Agriculture Minister, HE Edgar Vasquez, the Vice-Minister of Foreign Trade, Government of Peru, and HE Ewa Lech, Deputy Minister, Ministry of Agriculture and Rural Development, Republic of Poland. Also Read – Over 2 hours screen time daily will make your kids impulsiveOver 900 exhibitors are taking part in the fair covering an area of 60000 sq mtrs (Approx.), spread over 14 halls. Aahar has a significant foreign participation. As many as 72 foreign companies are participating in the fair – includeing USA, China, Canada, Germany, Italy, Switzerland, Russia, Poland, Turkey, Bulgaria, Spain, Oman, Korea, Sweden, Thailand, UAE, Peru and Lebanon. ITPO has made a special provision in Aahar for promoting ‘New and Young Entrepreneurs’ by offering them space at 50 per cent of the normal tariff. The focus on new and young entrepreneurs will invigorate the youth to set up fresh innovative businesses. Around 60,000 trade visitors are expected to visit the fair. Around 300 renowned Chefs will participate in the Culinary Art Competition with live demonstrations.ITPO has begun work on its ambitious project of the redevelopment of Pragati Maidan as a world class Integrated Exhibition- cum-Convention Centre (IECC), to cater to the growing needs of the global exhibition and convention fraternity. AAHAR is a B2B show. Visiting hours are 10 am – 6 pm on all days. Visitor registration is required at site or online on the Mobile App.last_img read more

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