PORTLAND, Ore. – Should Klay Thompson need to feel inspired and rejuvenated again, he might want to avoid jumping into the water this time.Thompson had benefited from cooling off in the Pacific Ocean during an off day last month in Los Angeles a day before Game 4 of the Warriors’ first-round series against the Clippers. Before the Warriors play the Portland Trail Blazers in Game 3 of the Western Conference on Saturday, though, Thompson might not want to swim here.“You want to go to the …
19 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 material
5 January 2012Marsh, a wholly-owned local unit of US-based insurance and risk management group Marsh & McLennan, has completed its acquisition of the brokerage business of South African insurer Alexander Forbes, significantly expanding its presence in sub-Saharan Africa.Marsh said in a statement on Wednesday that the transaction comprises its South African insurance broking operations, Alexander Forbes Risk Services and related ancillary operations, as well as Alexander Forbes’ insurance broking operations in Botswana and Namibia.It had also agreed to acquire other Alexander Forbes risk operations across sub-Saharan Africa – in Malawi, Mozambique, Nigeria, Uganda and Zambia – subject to regulatory and other approvals. These transactions were expected to close “in the first quarter of 2012”, the company said.Alexander Forbes CEO Edward Kieswetter told Business Day that the whole transaction, once finalised, would be valued at between R1-billion and R1.1-billion.Expanding presence in sub-Saharan Africa“This transaction gives Marsh a leading market position in South Africa and significantly expands its presence in some of the most vibrant economies in the sub-Saharan region,” the company said.“In particular, it greatly enhances Marsh’s position in Africa’s major business sectors, including mining and minerals, power, telecommunications, transport and construction. It also extends Marsh’s reach into the dynamic middle market.”David Batchelor, president of Marsh’s international division, said the combination of Alexander Forbes’ “well-established South African operations, its regional network and respected team, together with Marsh’s existing South African business, global solutions, resources and placement skills, will bring dramatically enhanced benefits to all our clients.Ambition to become ‘pan-African leader’“Companies in the rapidly-developing African region are increasingly looking for insurance brokers and risk advisers that can help them both protect their vital assets and grow,” Batchelor said. “This transaction, which is driven by our growth ambitions to be a pan-African leader, gives us a powerful platform to meet these expectations.”Jurie Erwee, newly appointed CEO of the combined enterprise, now called Marsh Africa, said: “Together, as we unite our growth ambitions to become the continent’s pre-eminent broker and risk adviser, we are committed to bringing the world’s best to Africa.”On closing the transaction, Marsh retained its level 3 status in its black economic empowerment (BEE) scorecard rating.“Through focused investment and support, Marsh has made significant achievements in its levels of black economic empowerment,” Erwee said. “The combined Marsh entity will remain strongly committed to continuous improvement in its BEE performance levels.”SAinfo reporter
Photo Attribution: KT KingBefore the season started I made some predictions about how the Cowboys would fare this year, and specifically how prolific Brandon Weeden would perform in his senior campaign.I looked like a fool coming out of the gate after he looked average against Louisiana but everything came together last weekend in College Station for, surely, the most spectacular half of quarterbacking OSU has ever had.Let’s take a look at where we are with some of those predictions I made as well as a few other Weeden superlatives through four games.I said Brandon Weeden…Would throw more TDs than he did last year (34) – On pace for 32.5, easily within reach.Would break the completion percentage record he set last year of .669 – Currently at an absurd 74.3%Would be in New York City on December 10 – I’m going to be the conductor of this train until it happens or we careen off the tracks.Would become OSU’s all-time leading passer – Needs to average 243 the rest of the way. I’m pretty confident that’s going to happen.Would set the career TDs thrown record this year – Needs 18 more to tie Zac. That’s definitely hanging in the balance, but I say he gets it. Hell, he might throw for 7 or 8 against KU and Baylor.Weeden currently has more passing yards than 71 other teams have total yards.He leads the nation in attempts per game (48) and is on pace to throw 621 times this year which would break the school record he set last year by 110 throws. BJ Symons says, “so?”He leads the nation in completions per game (36) and is on pace to complete 462 passes which would break his school record by 120 completions.Only eleven other QBs have completed more passes in an entire year than Weeden has through four games.On Sunday Pat Jones said this about Weeden:This guy might be Barry Sanders playing quarterback.Pat is confused and sounds like he’s just trying to spew hyperbole because to compare someone, statistically or otherwise, to Barry Sanders is not a good basis for any argument.The point remains though, that the aged gunslinger from Edmond is conjuring up historical comparisons the likes of which we’ve never seen come through Stillwater. I hope you’re enjoying the ride.This post is part of a season-long series on the Heisman hopes of Brandon Weeden and Justin Blackmon. Click here to read more.If you’re looking for the comments section, it has moved to our forum, The Chamber. You can go there to comment and holler about these articles, specifically in these threads. You can register for a free account right here and will need one to comment.If you’re wondering why we decided to do this, we wrote about that here. Thank you and cheers!