BOJ Projects Modest Growth for 2013/14

first_imgBOJ Projects Modest Growth for 2013/14JIS News | Presented by: PausePlay% buffered00:0000:00UnmuteMuteDisable captionsEnable captionsSettingsCaptionsDisabledQualityundefinedSpeedNormalCaptionsGo back to previous menuQualityGo back to previous menuSpeedGo back to previous menu0.5×0.75×Normal1.25×1.5×1.75×2×Exit fullscreenEnter fullscreenPlay BOJ Projects Modest Growth for 2013/14 Finance & Public ServiceMay 16, 2013Written by: Douglas McIntosh RelatedNHT’s Contribution Will Not Affect Its Operations – Finance Minister Advertisements RelatedPublic Servants Agree to Wage Restraintcenter_img RelatedCabinet Signs Off on Measures to Advance IMF Negotiations Photo: JIS PhotographerBank of Jamaica (BoJ) Governor, Brian Wynter (centre), addresses journalists during the institution’s quarterly media briefing at its downtown Kingston offices on Wednesday, May 15. Flanking him are BoJ Deputy Governors, Gayon Hosin (left); and Myrtle Halsall. FacebookTwitterWhatsAppEmail The Bank of Jamaica (BoJ) is projecting economic growth ranging between 0.5 and 1.5 per cent for the 2013/14 fiscal year.BoJ Governor, Brian Wynter, who made the disclosure during the Bank’s quarterly media briefing on Wednesday, May 15, said this forecast is based on the “expected boost” to investor confidence, consequent on the government’s recent conclusion of a four-year Extended Fund Facility (EFF) with the International Monetary Fund (IMF), and the resulting funding support from other multilateral agencies and institutions anticipated.The IMF has already disbursed an initial US$207.2 million under the EFF provision to Jamaica, of which US$87.9 million represents budgetary support for the government.This, the Governor said, is expected to be complemented by anticipated loan and grant funding of some US$2 billion in multilateral support from agencies such as the World Bank, European Union (EU), and Inter-American Development Bank (IDB), over the medium term.Mr. Wynter pointed out that the private sector is expected to benefit from the government’s fiscal consolidation programme, which is anticipated to release resources for investments.“The robust growth of 18.4 per cent in private sector credit for 2012/13 is anticipated to provide some momentum for the projected growth for the current (2013/14) fiscal year. Note (should) be taken of the decline of 50 basis points, or half per cent, in average lending rates to the private sector at commercial banks during the March quarter,” he informed.While noting that these rates are “still higher than desired”, Mr. Wynter said this “bodes well” for future credit expansion.“In this regard, at 5.3 per cent, the quarter saw the strongest rate of quarterly growth in loans and advances since 2011,” he added.Mr. Wynter said BoJ estimates for the January to March quarter suggest that the economy contracted in the range of -1.2 to -0.2 per cent. The economy is estimated to have contracted in the range of -1.0 to 0.0 per cent for the 2012/13 fiscal year.“The estimated outturn for this (January to March) quarter reflected the impact of drought conditions as well as weak domestic and external demand. In addition, continued uncertainty about prospects for the economy had a debilitating impact on investments and economic activity in general,” the Governor stated.In light of this, Mr. Wynter contended that the IMF’s approval of the Extended Fund Facility for Jamaica and anticipated strengthening of currency inflows from multilateral agencies should serve to boost confidence in the economy.Additionally, he said interest rates continue to be at “historically” low levels, and are expected to remain relatively low in light of the successful implementation of the National Debt Exchange (NDX), and the government’s fiscal consolidation programme.“These developments are expected to lead to a gradual recovery in the domestic economic activity and per capita income over the near to medium term. In this context, the Bank of Jamaica’s primary focus will remain the reduction of inflation over the medium term, towards levels which prevail among our trading partners,” Mr. Wynter said.Contact: Douglas McIntoshlast_img read more

September 1, 2010 Disciplinary Actions

first_imgDisciplinary Actions Prepared by The Florida Bar’s Public Information and Bar Services Department __________________________________________________________ The Florida Supreme Court in recent court orders disciplined 27 attorneys, disbarring eight and suspending 17. Some attorneys received more than one form of discipline. Two attorneys were publicly reprimanded, and three were placed on probation. Three were ordered to pay restitution.The following lawyers are disciplined: Charles Behm, P.O. Box 10, Pomona Park, permanently disbarred following a July 1 court order. (Admitted to practice: 1999) Behm failed to file income tax returns from 1999 to the present. He declared in court that he has no intention of filing federal income tax returns in the future. He also failed to prepare and maintain certain trust account records. (Case No. SC07-661) Joseph Edward Broadus, 641 1st St. S., St. Petersburg, placed on probation for an additional 18 months, effective immediately, following a June 17 court order. (Admitted to practice: 1986) Broadus was held in contempt of the court for failing to comply with the terms of his probation by failing to follow through with the requirements of a Florida Lawyers Assistance, Inc., contract, and failing to pay the monthly monitoring fee. In September 2007, he was placed on 18 months probation. (Case No. SC09-1310) Steven M. Busch, P.O. Box 4305, Ft. Lauderdale, suspended for three years effective immediately, following a June 3 court order. Busch is currently suspended, so the suspension shall run concurrently with the one imposed in February 2008. (Admitted to practice: 1974) Further, Busch shall pay restitution of $1,500 to one client. Busch acted in contempt of the Supreme Court of Florida by holding himself out as an attorney in good standing and practicing law after the effective date of his suspension. Busch failed to notify clients, opposing counsel, and the courts that he was suspended. (Case No. SC09-1421) Rudolph C. Campbell, P.O. Box 546, Lutz, disbarred effective 30 days from a June 3 court order. (Admitted to practice: 1998) Further, Campbell shall pay restitution of $1,500 to one client. Campbell used his law firm as a loan modification and foreclosure assistance business. He charged up-front fees to homeowners, in violation of the Foreclosure Rescue Fraud Prevention Act, Florida Statute, 501.1377; he used deceptive advertising, and he failed to respond in writing to an inquiry from The Florida Bar. (Case No. SC09-1742) John Everette Evans III, P.O. Box 1653, Ft. Myers, suspended until further order, following a June 15 court order. (Admitted to practice: 2005) According to a petition for emergency suspension, Evans appeared to be causing great public harm by engaging in a repeated pattern of neglect and abandonment of his clients. (Case No. SC10-1124) Harvey Jay Goldstein, P.O. Box 240037, Milwaukee, Wis., suspended until further order, following a June 3 court order. (Admitted to practice: 1987) According to a petition for emergency suspension, Goldstein appeared to be causing great public harm by converting nearly $70,000 from three probate estates while acting as an administrator and using the funds to pay personal and business expenses and to finance real estate deals. Those incidents resulted in his suspension in Wisconsin. (Case No. SC10-1001) Gary W. Gramer, 181 Southbay Drive, Suite 2, Naples, disbarred retroactive to Jan. 13, following a June 3 court order. (Admitted to practice: 1973) Gramer was found guilty of grand larceny in the third degree in Suffolk County Court, N.Y. (Case No. SC09-2252) Carolyn Marie Holt, 2202 N. West Shore Blvd., Suite 200, Tampa, suspended for 91 days, effective 30 days from a June 4 court order. Further, upon reinstatement, Holt is placed on probation for one year. (Admitted to practice: 1997) During the course of representing a client in a civil matter, Holt intentionally misled the court and opposing counsel by making false statements to a judge. She later made false statements to The Florida Bar and the grievance committee. (Case No. SC08-1911) Christine Marie Horn, 3469 W. Boynton Beach Blvd., Suite 15, Boynton Beach, disbarred effective immediately, following a June 17 court order. (Admitted to practice: 1980) Horn was suspended on an emergency basis in November 2009. A Bar audit revealed trust account shortages ranging from more than $3,000 in September 2006 to nearly $314,000 in October 2008. (Case No. SC10-72) Thomas Lemuel Hurst, 822 N.E. 96th St., Miami, disbarred effective immediately, following a June 3 court order. (Admitted to practice: 1972) Hurst, who previously had been suspended three times from practicing law, failed to respond to inquiries from The Florida Bar regarding a case alleging he misappropriated a client’s funds, and he failed to appear at a court-mandated final hearing. (Case No. SC09-2027) Tolly Albert Kennon III, P.O. Box 34006, Charlotte, N.C., suspended for three years, retroactive to April 3, following a June 24 court order. (Admitted to practice: 1998) This is a reciprocal discipline case. In September 2009, Kennon was suspended from practicing law in North Carolina for three years. Kennon represented two criminal defendants in two separate cases in North Carolina. In both instances, Kennon advised witnesses for the prosecution as to the way they should handle subpoenas they received. Kennon did not advise either to seek independent counsel. (Case No. SC10-633) John Joseph Liu, P.O. Box 277, Safety Harbor, suspended for 91 days, retroactive to July 17, 2009, following a June 17 court order. (Admitted to practice: 1993) Liu failed to respond in writing to inquiries from The Florida Bar regarding the status of his trust account, which had been overdrawn. Nor did he appear for a hearing, despite being served a notice at his official Bar address. (Case No. SC09-1743) Michael H. Lubin, 16831 N.E. 15th Ave., North Miami Beach, disbarred effective 30 days from a June 24 court order. (Admitted to practice: 1981) Lubin misappropriated a portion of the funds he received from a client to hold in trust. (Case No. SC10-1063) Miguel Angel Montalvo, Apartado Postal 2, Salvatierra, Guanajuato, Mexico, to be publicly reprimanded following a June 24 court order. (Admitted to practice: 1994) During the course of representing a client, Montalvo discontinued his law practice in Immokalee and relocated to Mexico. He failed to inform the client that he’d withdrawn from the representation, and he failed to respond to inquiries by the Bar regarding the complaint failed by the client. (Case No. SC10-287) Dominyka Mindaougas Netchiounas, 2203 N. Lois Ave., Suite 953, Tampa, suspended until further order, effective 30 days from a June 23 court order. (Admitted to practice: 2002) Netchiounas willfully failed to respond to official Bar and grievance committee inquiries regarding a complaint. (Case No. SC10-811) Gary Stephen Ostrow, 3000 N.E. 30th Place, Suite 301, Ft. Lauderdale, suspended for 30 days, effective August 1, following a June 24 court order. (Admitted to practice: 1982) Ostrow was arrested in May 2008 and charged with cocaine possession. In December 2009, Ostrow successfully completed a drug court program, and the charge was dismissed. (Case No. SC10-1035) Matthew Glenn Palentchar, 16 Caton Ave., Colonia, N.J., suspended until further order, effective 30 days from a June 1 court order. (Admitted to practice: 2004) Palentchar failed to comply with a subpoena requesting that he produce trust account records on or before Jan. 15. (Case No. SC10-545) Robert Joseph Ratiner, 3225 Aviation Ave., Suite 600, Miami, suspended for 60 days, publicly reprimanded and placed on probation for two years, following a June 24 court order. (Admitted to practice: 1990) During a deposition, Ratiner’s behavior was disruptive and intimidating to the witness, opposing counsel, and other persons present. While on probation, Ratiner is required to undergo mental health counseling and prepare and mail letters of apology to those who were present during the deposition at issue. Further, Ratiner shall be accompanied by co-counsel approved by the Bar during depositions and other legal proceedings or he shall ensure that such appearances or proceedings are video-recorded. (Case No. SC08-689) J. Christopher Rich, 124 E. Rich Ave., Deland, suspended for 91 days, effective 30 days from a June 24 court order. (Admitted to practice: 1998) Between April 2007 and November 2009, Rich failed to provide diligent representation and adequate communication to several clients. He was reprimanded by a bankruptcy court judge and placed on one year probation for engaging in a pattern of misconduct that frequently led to the dismissal of his clients’ cases. (Case Nos. SC09-1744, SC10-414, and SC10-416) Jeffrey Stephen Rosenberg, 20201 E. Country Club Drive, Apt. 2104, Aventura, disbarred effective immediately, following a June 24 court order. (Admitted to practice: 1979) Rosenberg failed to explain the whereabouts of $27,750 placed in escrow with his title company for a client. During the course of a Bar investigation, Rosenberg agreed to disbarment. (Case No. SC10-1167) David Philip Ryan III, 250 Catalonia Ave., Suite 804, Coral Gables, permanently disbarred effective immediately, following a June 17 court order. (Admitted to practice: 1997) Ryan misappropriated client trust funds for his personal use and he continued to practice law despite his suspension in March 2009. Also, Ryan produced some, but not all subpoenaed records requested by The Florida Bar, including bank statements, canceled checks, cash disbursements, and client ledgers. (Case Nos. SC09-776 and SC09-791) William Sumner Scott, 3109 Grand Avenue #183, Miami, suspended for three years, following a June 10 court order. (Admitted to practice: 1992) Scott was charged with having conflict of interest in representing clients and with making a false statement of material fact or law to a third party. (Case No. SC05-1145) Kenneth Paul Sirkin, 2500 Quantum Lakes Drive, Suite 203, Boynton Beach, suspended for three years, effective immediately, following a June 17 court order. (Admitted to practice: 2002) Sirkin failed to respond to official inquiries in 11 separate Bar complaints. (Case No. SC09-1125) Mark David Swanson, 1521 Alton Road 684, Miami Beach, suspended for 50 days, effective 30 days from a May 20 court order. (Admitted to practice: 1984) Swanson shall pay restitution totaling $9,300 to two clients in separate cases. In both instances, after being retained, Swanson failed to adequately communicate with the clients. He also failed to respond to inquiries from The Florida Bar and the grievance committee. (Case No. SC10-79) Harry Mark Vieth, 1500 San Remo Ave., Suite 145, Miami, suspended for one year, effective 30 days from a June 3 court order. (Admitted to practice: 1984) In one instance Vieth misled clients into believing that their case was progressing normally, when in fact, he had taken little action on their behalf. In another case, Vieth was retained to assist a military veteran in increasing his disability benefits and filing a retroactive claim. After obtaining a $1.5 million judgment, Vieth failed to file for payment and the client never received his money. As a result, the client was forced to retain new counsel. Despite numerous requests by the client to secure his medical records for a new lawsuit, Vieth failed to communicate with him. (Case No. SC09-1453) R. Scott Whitehead, 4507 Furling Lane, Suite 209, Destin, suspended until further order, following a June 9 court order. (Admitted to practice: 1998) According to a petition for emergency suspension, Whitehead engaged in a systematic scheme to deprive his clients of their money in the form of fees and costs, while not performing the legal services for which he was retained. Additionally, he was arrested four times for alcohol-related problems since May 2009. (Case No. SC10-1025) Marvin Deon Wilson Sr., 14321 S.W. 286th St., Homestead, suspended for three years, effective retroactive to December 1, 2008 following a May 27 court order. (Admitted to practice: 1998) A Bar audit found that Wilson used client funds for his own purposes. Additionally, Wilson was charged with three felony counts: organized scheme to defraud, grand theft and money laundering. Subsequently, the state attorney’s office dropped the charges against Wilson upon his agreement to refund $15,000 and attend a trust accounting workshop. In another instance, Wilson failed to keep a client informed as to the status of her case. He also failed to timely respond to an inquiry about the case from The Florida Bar. (Case No. SC09-777) Court orders are not final until time expires to file a rehearing motion and, if filed, determined. The filing of such a motion does not alter the effective date of the discipline. Disbarred lawyers may not re-apply for admission for five years. They are required to go through an extensive process that rejects many who apply. It includes a rigorous background check and retaking the bar exam. Historically, fewer than 5 percent of disbarred lawyers seek readmission. September 1, 2010 Disciplinary Actions September 1, 2010 Disciplinary Actionslast_img read more

New CCUS Advisory Group for UK

first_imgGet instant access to must-read content today!To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.Don’t just stay connected, stay at the forefront – join gasworld and become a subscriber to access all of our must-read content online from just $270. Subscribelast_img

Namibia re-opens businesses but borders to remain closed.

first_imgShops in Kampala remain closed days after strike began FILE PHOTO: Hage Gottfried Geingob, president of Namibia, looks on during a session of the World Economic Forum on Africa in Cape Town, South Africa, September 5, 2019. REUTERS WINDHOEK, NAMIBIA – MARCH 5, 2018: Namibia’s President Hage Geingob during a meeting with Russia’s Foreign Minister Sergei Lavrov. Alexander Shcherbak/TASS (Photo by Alexander ShcherbakTASS via Getty Images)Namibia will start to ease nationwide restrictions on movement from next Tuesday, allowing economic activity under strict monitoring, President Hage Geingob said on Thursday.Namibia has so far seen 16 confirmed cases of coronavirus, with no deaths.Geingob said in a televised speech that from midnight on Monday, May 4, Namibia would enter stage two of a four-stage plan.People will be permitted to travel domestically while wearing face masks at all times.Returning Namibians will be allowed to re-enter the country, subject to screening on entry and quarantine for 14 days, but borders will remain closed for non-Namibians.Businesses and productive activities can reopen. Shopping malls, shops and restaurants will continue operating on a take-away basis.The buying and selling of liquor with more than 3 per cent alcohol content remain prohibited.Related Nigeria has closed its sea and land borderscenter_img Durban beaches remain closed following deadly stormlast_img read more

Blue Jackets Call Up Harrington After Monsters’ Victories

first_img David Sprouse CLEVELAND – The AHL’s defending Calder Cup Champion Cleveland Monsters,  announced Sunday that defenseman Scott Harrington was recalled by the NHL’s Columbus Blue Jackets from a conditioning assignment to Cleveland. Harrington logged a +1 rating and four shots on goal in two appearances during the Monsters’ season-opening series at The Q, a 2-1 home win over the Rockford IceHogs on Friday and a 3-1 victory over Rockford on Saturday. Harrington was called up Friday from Columbus for conditioning and performed well while with The Monsters over the two game series with the Icehogs.Captain Ryan Craig commented on his performance throughout the games and the ability to come up to Cleveland and fit into the team seamlessly, which shows what kind of pro Scott really is. At 6’2”, 219 lb. left-handed blue-liner from Kingston, ON, Harrington registered 0-1-1 with eight penalty minutes in 25 NHL appearances for the Pittsburgh Penguins and Toronto Maple Leafs spanning parts of the past two seasons. A fourth-year pro, Harrington, 23, logged 8-31-39 with 89 penalty minutes and a +33 rating in 143 combined AHL appearances for the Wilkes-Barre/Scranton Penguins, the Toronto Marlies and Cleveland spanning parts of five seasons from 2012-16.VIDEO LINK: tuned to NEOSI for all of your Cleveland Monsters and Columbus Blue Jackets updates. Follow me on Twitter @NEOSI_Sprouse. Also, be sure to catch @Eli_Mooneyham and myself on Facebook for our pregame show “Between the Pipes” and the game wrap up with “Less Than A Minute Remaining” postgame show. Northeast Ohio Sports Insiders, bringing you the best of Cleveland sports. Co-editor, photographer covering the Cleveland Monsters, Gladiators and Indians. Also, passionate about high school sports, be sure to follow David on Twitter and Instagram @neosi_sprouse for in-game updates and up-to-the-minute developing news.center_img Related Topicslast_img read more

Doncic dominates as Mavs clip Kings in OT

first_imgLuka Doncic capped a 34-point, 20-rebound, 12-assist triple-double with a basket inside to break a tie with 1:57 remaining in overtime yesterday afternoon as the Dallas Mavericks outlasted the Sacramento Kings for a 114-110 victory. Tim Hardaway Jr. had six of his 22 points in the extra session, helping the Mavericks (41-29) win for the first time in three tries in the NBA bubble.De’Aaron Fox went for a team-high 28 points for the Kings (28-39), who fell to the brink of elimination in the Western Conference playoff race with a third straight defeat since the restart.A Buddy Hield 3-pointer gave Sacramento a 102-99 lead with 3:30 left in overtime before Hardaway was fouled on a 3-point attempt and converted three straight free throws for the game’s final tie at 102-all. Doncic then connected on his go-ahead hoop and Maxi Kleber then hit a 3-pointer with 1:22 to go, propelling the Mavericks to the win.The Kings got threes from Hield and Bogdan Bogdanovic in the final 10 seconds to close within 112-110, but Trey Burke nailed two free throws with 4.4 seconds remaining to ice Dallas’ win.The Kings led almost the entire regulation, using nine first-quarter 3-pointers to build a 37-27 advantage after 12 minutes. Hield (three), Fox (two) and Cory Joseph (two) combined for seven of the early threes. The Mavericks rallied into a 52-all tie on a pair of free throws by Kristaps Porzingis with 2:46 remaining in the half, but then never drew even again until Kleber hit one of two foul shots with 1:52 remaining, squaring the score at 95-all.The teams combined for seven missed shots and a turnover over the scoreless final 1:52 of regulation. Fox missed three of the shots, including a buzzer-beating 18-footer.Doncic’s triple-double was his league-leading 16th of the season, while his 20 rebounds were a career-high, eclipsing his previous best of 18 set against New Orleans in December. Porzingis matched Hardaway with 22 points, while Dorian Finney-Smith collected a career-high 16 rebounds to complement 16 points.Fox added a team-high nine assists for the Kings, who outshot the Mavericks 41.3 percent to 36.7.Hield added 21 points and Kent Bazemore 16 for Sacramento, while Nemanja Bjelica had a double-double with 12 points and a team-high 13 rebounds. —Field Level Medialast_img read more

Disney Testing Pre-Order Service at All Star Music

first_imgShare This!Disney is testing a new pre-order service at Intermission Food Court, the quick service location at All Star Music. This service is currently offered for breakfast, lunch, and dinner at All Star Music only. The other All Star resorts (Sports and Movies) are not testing pre-orders, nor are the other value resorts, Pop Century and Art of Animation. This service is different from mobile ordering through MyDisneyExperience.To use the service, pick up any grab and go items you want, place your order with the cashier, pay, and take a pager. You can then grab a table, cutlery, napkins, and any fountain beverages you ordered. When your food is ready, the pager goes off and you collect your order at the pizza pickup window.For burgers and pizza, the pre-order option is the only way to order your food. For items other than burgers and pizza, you still get your food at the walk-up windows the usual way.So how well does it work? Pretty well, with some caveats. Right now, for breakfast and dinner, Intermissions is using both the regular lines and the pre-order option, depending on the food you are ordering. So if one person in your party wants a burger and the other wants rotisserie chicken, you’re still going through the chicken line and then place your burger order at the cashier. For breakfast, you currently have an option of doing pre-order or pick up at the window for most items.We’re seeing that many guests are simply waiting at the pick up window rather than taking a seat and waiting for the pager to alert them. This is causing some crowding around the pick up window.If this is brought to all the stations instead of just one, there would be an advantage to this service. For those traveling with family, they would only need to stand in one line to order food and then would be able to get settled at a table without juggling both food and drinks. On the other hand, sometimes you really do want to see the actual food you’re ordering instead of a picture, and it is easier to customize your order when talking with the person who’s plating it instead of with a cashier who’s sending the order to the kitchen.With the addition of online check-in to MyDisneyExperience, mobile ordering in the parks, and the pre-order test, it seems Disney is moving away from human interaction in many of the transactions guests go through in their trips. How do you feel about this? Let us know in the comments.last_img read more

SA, Africa ‘must position for growth’

first_img2 July 2012 Africa, and South Africa as a key gateway to the continent, will have a bright future as the next growth frontier in the global economy if they can position themselves correctly, says Trade and Industry Minister Rob Davies. Speaking during the New Age/SABC breakfast briefing in Sandton, Johannesburg on Friday, Davies highlighted the need for economic integration on the continent, noting that promoting regional economic integration was an important element of South Africa’s trade strategy. He noted that there were around 20 emerging economies that were becoming the main drivers of economic growth and economic dynamism in the world.Emerging economies to drive global growth “It is estimated that the 20-odd emerging economies will be responsible for something like 61% of global growth over the next few decades and that these countries were already responsible for something like one-third of world trade,” he said. The hope of recovery from the economic crisis still resided in the emerging economies. “Good news for us is that Africa is very much part of the growth story,” Davies said. “There is growing recognition across the world that Africa is the next growth frontier after Asia ahead of some other parts of the emerging world.” This was exemplified by the fact that the IMF estimates that this year the average growth on the African continent will be about 5.5%. In addition, six of the 10 fastest growing economies were located on the African continent. “If one attends international forums and engages investors across the world, we will see that many of them are now taking seriously the African continent as the growth frontier.” The factors Davies identified as having driven growth in Africa included a mineral products boom; a consumer-driven boom in Africa; the fact that the continent had been spared either a systemic financial crisis or a sovereign debt crisis; and infrastructure development that had taken place and which has supported economic growth across the continent.Africa ‘must now industrialise’ What was now required was to change this economic spurt into a sustained development effort, and that required the continent to industrialise, Davies said. South Africa had an important role, an important set of opportunities and important responsibilities in this regard, as it was the most industrialised country on the African continent. Three main areas that have been identified for the focus of industrial development, Davies said, were the need to add value to mineral products, to agricultural products and to develop a pharmaceutical industry. Also important was the need to consolidate and build new, mutually beneficial trade and investment relations with dynamic economics and dynamic sectors across the world. South Africa’s membership of BRICS was a huge advantage in consolidating and building a relationship with the fastest growing economies and most important leading economies in the emerging world, Davies added. Source: read more

BMW celebrates one million 3-Series built in SA

first_img27 February 2015The one-millionth vehicle, a BMW 3 Series Sedan, rolled off the assembly line at BMW’s South African manufacturing plant in Rosslyn, Pretoria, on Thursday.Established in 1973, the Rosslyn plant was BMW Group’s first plant outside of Germany.“Globalisation has been an inherent part of our corporate strategy for more than four decades,” Harald Kruger, CEO of BMW South Africa and member of the Management Board of BMW AG responsible for production.The South African production site “represents a cornerstone” of BMW’s global production network of 30 sites in 14 countries, Kruger said, and it remained “a vivid example of a successful market entry through local production”.BMW has been producing vehicles in South Africa since 1973. (Image: BMW SA) BMW cars made in South Africa are also successful on the international stage. Since its inception, and before the establishment of a dedicated international automobile industry, BMW South Africa has exported cars.In 2014, BMW 3 Series Sedan exports from the Rosslyn line increased by more than 17%, which helped solidify BMW South Africa’s position as the country’s leading exporter of premium vehicles.BMW South Africa directly and indirectly employs more than 43 000 people: more than 3 700 associates at the plant and at the national sales organisation, as well as more than 3 700 dealership staff and about 36 000 first-tier supplier employees.In 2014, the more than 2 900 workers at the Rosslyn plant built 68 771 BMW 3 Series Sedans for the local and export markets.“With a high demand for all-wheel drive vehicles in markets such as the North American Free Trade Agreement region huge potential exists for export numbers to increase. In addition, production of the xDrive units requires skilled and highly trained production workers, which Plant Rosslyn has proved it has,” reported Tim Abbott, the MD of BMW SA, as saying.Source: BMWlast_img read more

Salaam Cricket: Clive Lloyd apologises for West Indies cutting short India tour

first_imgWest Indian cricket legend Clive Lloyd on Saturday apologised for the West Indian players’ decision to cut short their India tour over pay disputes with the West Indian Cricket Board.Speaking at the final Seven Wonders session of AajTak’s Salaam Cricket Conclave in New Delhi, Lloyd said, “I would like to apologise to the Indian people. Some of the guys (the WI team) wanted to leave the tour. It was a great mistake. I want to say, we still have closeness built over the years. We have great love for the Indian people. There is no better place than India. It is unfortunate they have left. I hope the damage is not incurable.”It was meant to be a sport event where the ‘Seven Wonders’ of the game spoke in one voice: Australia are a hot favourite for the 2015 World Cup. But the bigger news came from the original superstar Clive Lloyd, who on Saturday apologised for the West Indies team having left the India tour midway.Lloyd’s remarks came after all World Cup winning captains, who were discussing the favourites for the World Cup that begins in February 2015, gave Australia the thumbs-up to win it. Former Australia captain Ricky Ponting, who led the squad that won the 2003 and 2007 editions, predicted an Australia-India World Cup final which the Aussies, he said, will win.The galaxy of stars included Lloyd, Kapil Dev (1983 champion), Allan Border (1987 champion), Arjuna Ranatunga (1996 champion) Steve Waugh (1999 champion) and Ricky Ponting (2003 & 2007 champion) and Aamer Sohail, former Pakistan captain. The session was moderated by India Today Group Consulting Editor Rajdeep Sardesai.advertisementWhile almost all the greats picked Sri Lanka as the game-changers of World Cup history for their victory when they won it in 1996, Ranatunga said it was Kapil Dev and Imran Khan, who became the inspiration for millions of cricketers in his country. “We asked ourselves, if India and Pakistan can win the World Cup, why can’t we?” he said.last_img read more