Click here if you are having trouble viewing the slideshow on a mobile device.ST. LOUIS — It didn’t take long for the Giants’ vision of a miracle run to the postseason to blur.With a 1-6 homestand against a pair of division foes, the Diamondbacks and Padres, the Giants turned from a team that saw a path to a Wild Card spot into a club that needs binoculars to keep the National League’s playoff contenders within their line of vision.The Giants came face-to-face with the first-place St. …
23 June 2014For South Africa to prosper and create jobs, it is crucial for the private sector to start investing more in the economy, says Deputy President Cyril Ramaphosa.Speaking during a post-State of the Nation address interview with the SABC at the public broadcaster’s studios in Cape Town on Sunday, Ramaphosa said the government would do all it could to support big business by removing obstacles to doing business in the country.These included energy constraints and bureaucratic red tape, which business people had identified as hindering business development.Ramaphosa said South Africa’s energy constraints affected all role players in the economy, “and particularly business, or the private sector, that accounts for 70% of employment in our country. For as long as energy is constrained, we are not able to build the factories, to do all that we are willing to do.”In his State of the Nation Address last Tuesday, President Jacob Zuma identified the current low level of investment by the private sector as a key factor holding back the growth of the economy.“We are determined to work with the private sector to remove obstacles to investment,” Zuma said, adding: “We would like to see the private sector showing as much confidence in the economy as the public sector.”Ramaphosa said that what the President was saying was that “there has been an assertion that the private sector, at some stage, has gone on strike as far as investing further in our economy.“What he was essentially doing was making a call on the private sector, that we as government are showing enormous confidence in the economy of our country. We would like you to do likewise and invest in the economy.”Overcoming the ‘trust deficit’The Deputy President said it was important for the government and business to sit around one table on a regular basis in order to eliminate the “trust deficit” that had grown between the two.Last week, Zuma said he would soon convene the next meeting of the Presidential Business Working Group, adding that after the first meeting, held last year, “six work streams were established, and these have been discussing solutions to various obstacles to doing business in South Africa.”The issues had also been raised by company CEOs during three working sessions he had hosted in November and December, Zuma said.Ramaphosa said these meetings needed to continue, as one could never have enough engagements. “Relationships between people, organisations and countries are by their very nature fluid. They are not static, they are never written in stone.“So people need to meet continuously to renew their relationships, to look at agreements that they have arrived at to see whether those are still relevant, given the changing environment in which we live.“When the President says he wants to have a further meeting, we should not pour cold water on that initiative. We should see it as continued progress, because what it means is that people are engaging.”Source: SAnews.gov.za
zoomIllustration. Image Courtesy: Pexels under CC0 Creative Commons license The tanker market has been in the doldrums for some time now, and times have been extremely tough for the crude carriers.However, industry major DHT Holdings expects the times to take a turn for the better due to four key reasons.Firstly, global demand looks healthy and steady with 1.3 million barrels per day expected for the remainder of the year and 1.2 million barrels per day for 2019, DHT’s Co-CEO, Svein Moxnes Harfjeld, explains.The second reason is the inventory drawdown gain in the second half and likely in the last quarter.On the supply side, fleet growth has been negative year-to-date, possibly in the amount of 10 VLCCs.And finally, the orderbook stands at 14 percent of the total fleet, and this should be compared to 24 pct of the fleet in excess of 15 years of age, Harfjeld adds.Speaking on the geopolitical situation and tensions between China and the United States and their potential impact on the freight markets, Harfjeld said that some 375,000 barrels per day of U.S. shale might be lost from this trade.“Whereas this sounds as a negative, we see signs of the North Sea and South America stepping into fill the void, and these trades are also VLCC trades,” he added.As these trades are of similar length as the U.S. export trades, the impact on VLCCs is predicted to be neutral.The U.S. has made a stronger grasp of other markets such as South Korea, with refiners increasing import of U.S. shale that has resulted in 4 to 5 VLCC cargoes per month. India is also increasing U.S. shale purchases, reported to be about 10 million barrels for August.What is more, the U.S. shale could also divert sales to Europe to partly replace loss of Iranian barrels and likely in smaller ships.“And China is expanding its refining capacity this year and a total of 1.2 million barrels per day of new capacity is due to come on stream later this year. Combined with the domestic production in decline, we expect imports to bounce back once the maintenance season ends later this quarter,” he pointed out.“And lastly, there has been further consolidation in the freight markets. And we welcome stronger and well behaved players.”DHT Holdings reported a net loss for the second quarter of 2018 worth USD 28.2 million and a net loss of USD 37.4 million for the first half of the year.In August, the company entered into 5-year interest rate swaps with Nordea totaling USD 168.8 million with an average fixed rate of 3.01 pct – as compared to current 3m Libor of about 2.34 pct. USD 168.8 million equals 22 pct of total outstanding bank mortgage debt.
AARP Foundation has announced the esteemed members of the host committee for the AARP The Magazine’s 15th annual Movies for Grownups Gala.The 2016 host committee will be co-chaired by Rob Friedman and Sherry Lansing. Committee members include Ed Asner, June Squibb, Ed Begley Jr., Jeff Bridges, Blythe Danner, Robert Forster, Sid and Nancy Hult Ganis, Ken Scherer and Jane Seymour.“I would like to express my deepest gratitude to our Movies for Grownups Gala host committee members for their support of this event,” said Lisa Marsh Ryerson, AARP Foundation president. “There are millions of vulnerable adults 50 and older facing housing, hunger, income and isolation challenges. This important event will help draw attention to these issues and create new opportunities for struggling seniors.”The annual awards gala supports AARP’s charitable affiliate, AARP Foundation, which helps struggling people 50 and older in Los Angeles and around the country transform their lives through programs that focus on functional and affordable housing, adequate and nutritious food, steady income, and strong and sustaining social bonds. AARP Foundation serves more than three million low-income seniors every year.AARP The Magazine will host the 15th annual Movies for Grownups Gala on Monday, February 8, 2016, at the Beverly Wilshire in Los Angeles. Several awards will be presented, including best actor, best actress and best director. Chase Card Services will be the Premier sponsor of the event.“Chase is a proud supporter of AARP Foundation’s hunger programs and we are excited to come together on this event to highlight the importance of addressing senior hunger as a basic health issue,” said Richard Quigley, president of Chase’s partner card business. The event aligns with Chase’s commitment to donate up to $1.1 million to AARP Foundation in 2016 through a cause-marketing campaign with the AARP Credit Card from Chase.For more information, click here.
Two diametrically opposite places – ancient Odisha and Egypt – gave Anupama Dayal the idea behind her collection that saw a mix and match between the two places. So her ensembles were called Giza dress [a halter necked long wrap dress with little colourful wheels], Cuttack tunic [a scarlet Dupion fitted dress with side slits and ikkat prints], Ra dress [long silk dress] and Jagannath sari [a graphic black and white printed red chanderi sari with choli].