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IDC to invest R5-billion in jobs

first_img14 June 2005South Africa’s Industrial Development Corporation (IDC) plans to invest “just over R5-billion” in job-creation projects over the next financial year, the Sunday Times reports. The newspaper says corporation chief executive Geoff Qhena wants to boost investment in small- to medium-sized enterprises (SMEs), backing projects that will create jobs. The target is to create26 000 jobs in the new financial year.“When we emphasise development, what is over-arching is jobs,” Qhena said. “We will have a bias towards projects that create jobs. We will still do major projects as we need the balance; they feed the SMEs and the SMEs feed into them.”A key element of the corporation’s promotion of SMEs is backing franchisees, including those in fast-food chains such as Nando’s and McDonald’s, the Sunday Times reports. It has also discussed franchise deals with Sasol.“Franchising is an opportunity for us,” Qhena said. “We are talking to the franchisors, where we can enter into an agreement with them or we can make facilities available. When we do that, we insist that they have an adequate black economic empowerment component.“Franchising is one of the growing SME areas. The failure rate is minimal, as the franchisors want to make the business work.”At an IDC-backed black economic empowerment conference in Mafikeng last week, Qhena said the organisation wanted to back more businesses in rural provinces such as the North West, Free State and Limpopo.“We need to interact with provinces and local government,” Qhena told the Sunday Times. “We have realised that is where the resources are.”Gauteng, KwaZulu-Natal and the Western Cape benefit the most from IDC backing.“We will be talking to all the provinces,” Qhena said. “We could stay at home and we would surely find propositions from the three richest provinces. But now we want to develop other provinces.”The IDC is likely to play a leading role in the restructuring of the diamond industry, according to the Sunday Times, prompted by the government’s desire to see more diamonds beneficiated in the country and as a result of the planned amendment of the Diamond Act.De Beers has offered the government a partnership in the SA division of its diamond trading company Diamdel. And in her recent budget speech, Minerals and Energy Minister Phumzile Mlambo-Ngcuka said the government may look at forming one major diamond trading company for SA diamonds.“We are very excited about what is happening in diamonds,” said Qhena.He stressed that each company in the IDC’s portfolio – whether it was one in which the IDS held a stake, or one to which it provided financial backing – was making a real effort to transform, and not just at an equity level.“We want to see the transfer of skills,” said Qhena.The Sunday Times also reports that the IDC might still sell stakes in listed companies such as Sasol and BHP Billiton, but only when the time is reporterlast_img read more

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SA, Australia to share SKA telescope

first_imgThe announcement was initially expected early in April but was delayed. Various reasons were given for the delay, such as a number of objections raised by the Australian organisation that had to be resolved. Brand South Africa CEO Miller Matola says that South Africa is thrilled with the opportunity to share the hosting of the SKA as the partnership with Australia will open up new avenues for skills development as well as ideas and cultural exchange. First published by – get free high-resolution photos and professional feature articles from Brand South Africa’s media service. The SKA in South Africa will be located mainly in the Northern Cape province, in an area protected by legislation from development that could interfere with the reception of radio waves from space. “The SKA will bring advancements of astro-sciences to both countries and facilitate knowledge sharing between young and older astronomy and cosmology experts. The opportunity to share the SKA with Australia will also highlight the benefits of partnerships on a global scale, and will improve industry cohesion and co-development in astronomy and other related fields.” The instrument, which will be the world’s largest radio telescope, is expected to be complete in 2024. “We have decided on a dual site approach,” said SKA board chairperson John Wommersley at a press conference held at Amsterdam’s Schiphol Airport, following a meeting of the SKA organisation’s members in the Dutch capital. When complete, MeerKAT will be the biggest radio telescope in the southern hemisphere. Although it’s only due to become operational in 2012, the first five years of MeerKAT research time are fully booked, with astronomers queuing up to work on this important instrument The team’s goal is to complete 15 MeerKAT antennae by 2015. 25 May 2012 Members of the SKA Organisation then agreed that it was necessary to set up a small scientific working group to explore various implementation options that would ensure that there was an inclusive approach to SKA, as well as maximise the value from the investments made by both candidate host regions. Driving scientific development in Southern Africa This follows a meeting of the members at Schiphol Airport in the Netherlands, after weeks of waiting and speculation regarding the final outcome of the hosting bid, which came down to two rivals, South Africa and Australia. South Africa will be the majority partner in the project, however, and will host 2/3rd of the antennae technologies of the SKA, while the remaining third will be built in Australia and New Zealand. In South Africa scientists and engineers have been hard at work for a number of years in preparation for the SKA. It will comprise about 3 000 dish-shaped antennae spread over many thousands of square kilometres. The core of the telescope will lie in the Northern Cape’s Karoo region, with outlying stations spread throughout South Africa, and in Namibia, Botswana, Ghana, Mozambique, Zambia, Kenya, Madagascar and Mauritius. Already an array of seven radio telescopes, the KAT-7, is online at the Northern Cape site and bringing in valuable imagery from far-flung corners of the universe. The KAT-7 is the MeerKAT precursor. YouTube: SKA bid announcement media briefing To date, R55-million has been spent on developing the skills needed for SKA, with 398 postdoctoral fellowships, PhD, MSc and undergraduate bursaries given to deserving candidates. An extensive bursary programme has seen hundreds of university students becoming interested in space science and engineering as a career, and, said Pandor, even more encouraging is that many of these are black students and women. After weeks of speculation, members of the Square Kilometre Array Organisation have announced that South Africa and Australia will jointly host the world’s largest radio telescope, the Square Kilometre Array (SKA).last_img read more

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Big Data Doesn’t Seem So Big Anymore

first_imgBigMemory Max also safeguards data by copying it across multiple servers. Data loss won’t occur if one server fails because a complete copy of the data sits on another server. BigMax Memory can maintain an uptime of 99.999 percent with this data mirroring method.But wait—it gets even better. The Intel® Xeon™ processor E7 v2 family was engineered for systems that require an uptime of 99.999 percent. Combining BigMemory Max with servers built on the Intel® Xeon™ processor E7 v2 allows enterprises to follow the scale-up model, which helps reduce power use, cooling costs, and complexity.Servers running BigMemory Max and the Intel® Xeon™ processor E7 v2 family help decrease overall total cost of ownership (TCO) without sacrificing the benefits of a large cluster running on lower-powered servers. This allows enterprises to expand their big data horizons, changing impossible or improbable analyses into very manageable scenarios.Read more about Terracotta BigMemory Max and Intel at Terracotta Breaks Down Barriers to Big Data ManagementOpens in a new window .Follow me on Twitter, @TimIntel. Terracotta BigMemory Max, a recognized leader of in-memory data management solutions, is changing the way that enterprises analyze big data. How? By storing data in a server’s machine memory. This change makes big data analysis more reliable and much faster. On the traditional hard-disk-based data management model, analysis of big data could have taken hours or days to process, but BigMemory Max whittles that down to minutes or even seconds! Crucial business decisions can be made faster and more accurately when big data is processed in-memory.Watch a select video presentation on Terracotta BigMemory Max and Intel from the Strata Conferencelast_img read more

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Sylvanvale have a ball at clinic

first_imgThe 2015 Youth Trans Tasman Junior Clinic on Friday, 16 January at Remondis Stadium, Cronulla included a number of special guests, none more important than the group from the Sylvanvale Foundation. The group comprised of adults and young adults with different forms of physical and intellectual disabilities, all of whom had a great passion for learning about Touch Football and having as much fun as possible whilst doing so. With assistance from Touch Football Australia, New South Wales Touch Association and Cronulla Sharks staff, the group were provide a unique experience, by having a run around on the home ground of the Sharks as well as going home with a number of special gifts.Steve, a mad Cronulla Sharks fan, had an amazing time, and showed off all of the skills that he had learnt as part of the clinic, including trick passes and touchdowns.The Sylvanvale Foundation’s Operations Manager, Marti Travers, said the group have not stopped raving about their time at the clinic and are looking forward to using their new found skills.The group also had a chance to meet and speak with Australian Touch Football representatives, as well as members of the Cronulla Sharks NRL side, and made sure they got plenty of gear signed to keep as a memory of this special day.The Sylvanvale Foundation works with children and adults with disabilities to provide them with experiences as well help them to successfully live in their communities.More information on the Sylvanvale Foundation can be found at – To view photos from the day, head to the TFA Facebook page – and stay tuned to the TFA YouTube channel for the highlights – Related LinksSylvanvale Cliniclast_img read more

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Couple Invites Both Mark Richt And Jimbo Fisher To Their Wedding

first_imgLetter for Mark Richt and his wife.TwitterWell, we’ve got a new trend emerging ahead of wedding season. Last week, we saw an Alabama fan invite Nick and Terry Saban to her wedding – and they actually responded with a heartwarming message and a gift. This week, we’ve got a couple inviting both Georgia head coach Mark Richt and Florida State head coach Jimbo Fisher to their nuptials. The husband-to-be, Patrick Millard, tweeted photos of both invites.@fsucoachfisher @MarkRicht Wedding Invites on the way! Hope you can make it @JekyllClubHotel. #WhenDawgsAndNolesUnite— Patrick Millard (@PM_Traveler) February 28, 2015It remains to be seen if either will attend or respond – if so, expect others to copy the idea and invite their favorite coaches.last_img read more

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Delhi gets cheapest electricity in country

first_imgNEW DELHI: Nearly six months before the scheduled assembly polls in Delhi, in a pre-election sop, Delhi Chief Minister Arvind Kejriwal on Thursday announced that electricity in the capital would be free for those who consume less than 200 units a month while those who consume between 201 and 400 units would be given a 50 per cent subsidy by the state government. This major relief to electricity consumers has come to effect immediately, meaning the new scheme has been implemented from 1st August itself. Also Read – After eight years, businessman arrested for kidnap & murderUpto 200 units of electricity will be free in Delhi from Thursday, Arvind Kejriwal announced on Thursday. Any consumer consumed power between 201 and 400 units will be at half price as the Delhi government will provide 50 per cent subsidy, he added. “Delhi is supplying the cheapest electricity in the country today. In Mumbai, 200 units cost Rs 1400, Delhi will pay zero. Mumbai pays Rs 3310 for 400 units, Delhi pays Rs1075. Bangalore pays Rs135p for 20p units, Delhi pays 0. For 400 units, Bangalore pays Rs 2910 and Delhi only pays Rs 1075. Gurgaon pays Rs 975 for 200, Rs 1820 for 400 units. Noida pays Rs1310 for 200 units and for 400 units, almost Rs 2500. In Amritsar under congress, Rs1318 for 200 and for 400 units, it is Rs 2700,” said the Chief Minister. Also Read – Two brothers held for snatchingsTracing the journey of major electricity sector reforms in Delhi, CM Kejriwal claimed that when his government was formed four and a half years ago, the electricity sector was in a complete mess. “Today electricity consumers are getting 24×7 electricity at cheapest rates in the country, discoms financial health has improved considerably, electricity infrastructure has been strengthened beyond imagination and people no longer need inverters and generators in Delhi,” he said. He also talked about how the party fought against the Congress party for electricity bill hike. “In 2013, we had launched a movement against exploitative electricity bills. Whichever house we would go to at the time, people would show use their bills that went into thousands for 100-200 units of consumption. During our 49-day government in 2014, on 8 or 9 February an interesting incident occurred,” he said. CM Kejriwal also said that in the Congress regime electricity distribution companies were in such financial distress that they didn’t have any cash left to continue operations. “They gave us an ultimatum that if the government doesn’t give us a certain sum to bail us out, Delhi will face a blackout the next day. They said they don’t have any money to purchase electricity,” said the Chief Minister. Delhi Chief Minister Arvind Kejriwal asserted that earlier Delhiites faced four major electricity problems such as each year Delhi’s power tariffs would be hiked arbitrarily. When asked about the allegations of giving “freebies” before the election, Delhi CM Kejriwal questioned, “Nobody says anything if the VIPs and big politicians get free power. Why deprive the common man? Am I wrong in taking this step.” The CM’s announcement came a day after the Delhi Electricity Regulatory Commission (DERC) also reduced the burden on consumers by reducing fixed charges for most domestic connections by up to 84 per cent. CM Kejriwal had congratulated the citizens and said this was the fifth straight year that power tariffs were not raised. DERC kept the energy charges the same for all categories, except for those who consume more than 1,200 units per month. A household whose electricity consumption crosses 1,200 units a month will have to pay 25 paise extra per unit and will be charged Rs 8 per unit.last_img read more

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Business Highlights

first_img___Brexit, Italy, trade: Risks piling up for Europe’s economyFRANKFURT, Germany (AP) — Europe’s long-running economic rebound is facing a mid-life crisis as it copes with worries including a potential debt explosion in Italy, an escalating US-China trade war and a potentially disruptive British exit from the European Union. How those risks play out will decide whether the expansion — now completing its fifth year, ages gracefully for several more — or meets an early demise.___US industrial production ticks up 0.1 per cent in OctoberWASHINGTON (AP) — U.S. industry expanded for a fifth straight month in October, as manufacturing growth offset declines in mining and utility production. The Federal Reserve says that industrial production rose a modest 0.1 per cent last month following a 0.2 per cent advance in September. The economy has been growing at a solid rate this year. But there are concerns that the strong dollar and rising trade tensions could hurt future growth.___Beloved toy store FAO Schwarz makes its comebackNEW YORK (AP) — FAO Schwarz is returning to New York three years after it closed its beloved toy store on Fifth Avenue. A new FAO opens Friday in Manhattan’s Rockefeller Center, about 10 blocks from its former home near the southeast corner of Central Park. Although smaller, the new version will have familiar attractions including a musical clock tower and the giant piano keyboard mat on which Tom Hanks danced in the film “Big.”___CNN’s Acosta back at White House after judge’s rulingWASHINGTON (AP) — CNN’s Jim Acosta is back at the White House after a federal judge ordered the Trump administration to immediately return his press credentials, though a lawsuit over the revocation is continuing. The White House revoked Acosta’s credentials last week after he and Trump tangled verbally during a press conference following the midterm elections. CNN sued and asked the judge to issue a temporary restraining order.___VW wants to storm car market with cheaper electric modelFRANKFURT, Germany (AP) — Automaker Volkswagen says it will invest 44 billion euros ($50 billion) in developing autonomous and electric cars. It’s also moving to expand the appeal of battery-powered cars by selling its upcoming ID compact for about what a diesel-powered Golf costs. Chairman Hans Dieter Poetsch told a news conference Friday that the company’s plans for the next five years aim to make Volkswagen “a worldwide supplier of sustainable mobility.”___California utility shares rise as regulator calms investorsSACRAMENTO, Calif. (AP) — Shares of Pacific Gas & Electric Co. soared Friday after California’s top utility regulator said his agency will help the company deal with potentially crippling liability costs from wildfires. Stock prices soared 36 per cent in midday trading after plunging 60 per cent and losing $15 billion in valuation in the week following the Northern California wildfire that is the nation’s deadliest in a century. No cause has been determined, but speculation has centred on PG&E.___Hong Kong economy cools as trade tension mountsHONG KONG (AP) — Hong Kong’s economic growth slowed in the latest quarter and the government warned it will face headwinds from U.S.-Chinese trade tension and higher interest rates. The Chinese territory’s economy expanded by 2.9 per cent over a year earlier, down from the previous quarter’s 3.5 per cent. The government said the impact of U.S.-Chinese trade tension has ‘begun to surface’ and is ‘likely to become more apparent in the near term.’___Trump says will name EPA’s acting chief to post permanentlyWASHINGTON (AP) — President Donald Trump says EPA agency’s acting head, Andrew Wheeler, will become permanent at the agency. Trump made the announcement almost in passing Friday at a White House ceremony for President Medal of Freedom honorees. The nomination would require Senate confirmation. Senators approved Wheeler as the agency’s deputy administrator in a 53-45 vote last April.___Health care, energy companies power US stock market higherNEW YORK (AP) — Wall Street capped a day of volatile trading with a late-afternoon buying spree that sent U.S. stock indexes to a mostly higher finish Friday. Despite the 11th-hour rally, the benchmark S&P 500 index ended with its second weekly loss in four weeks. Gains in health care and energy companies powered the market higher. Energy companies rose. The market got a brief boost after President Donald Trump expressed optimism that the U.S. and China will reach a deal to resolve their costly trade dispute.___The S&P 500 index rose 6.07 points, or 0.2 per cent, to 2,736.27. The Dow Jones Industrial Average gained 123.95 points, or 0.5 per cent, to 25,413.22. The Nasdaq composite slid 11.16 points, or 0.2 per cent, to 7,247.87. The Russell 2000 index of smaller companies picked up 3.41 points, or 0.2 per cent, to $1,527.53.Benchmark U.S. crude oil was unchanged at $56.46 a barrel in New York. Brent crude, used to price international oils, gained 0.2 per cent to $66.76 a barrel in London. Natural gas added 5.8 per cent to $4.27 per 1,000 cubic feet, heating oil held steady to $2.07 a gallon and wholesale gasoline jumped 1.3 per cent to $1.58 a gallon.The Associated Pres, The Associated Presslast_img read more

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Crude by rail exports hit three year high as Canadian oil discounts

first_imgCALGARY, A.B. – The National Energy Board says exports of Canadian crude oil by rail to the United States jumped to a three-year high in March.In a report, the federal agency says average crude-by-rail volumes reached just over 170,000 barrels per day, the highest since December 2014.The NEB says crude-by-rail exports were driven by steep discounts for Western Canadian Select heavy oil versus New York-traded West Texas Intermediate, with the March average price difference at about US$23 per barrel. The price difference makes the higher cost of shipping by rail versus pipeline worthwhile because the barrels sell for higher prices at their destination in the U.S. than they would have in Canada.The NEB says the rising use of rail was also sparked by the fact major Canadian export pipelines operated at or near maximum capacity during the month.In the first quarter of 2018, about 75 percent of Canadian rail exports were destined for the U.S. East Coast and Gulf Coast.The Gulf Coast is the largest refining region in the U.S. and has a large capacity to process Canadian heavy crude oil.last_img read more

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CRPF trooper kills three colleagues shoots self

first_imgJammu: A Central Reserve Police Force (CRPF) trooper shot dead three colleagues and then shot and seriously wounded himself in Udhampur district in Jammu and Kashmir, police said on Thursday. CRPF Constable Ajit Singh fired shot dead the three colleagues inside a camp in Battal Ballian area on Wednesday night after a heated exchange of words, a police officer said. The incident occurred around 10.40 p.m. Ajit Singh belongs to Kanpur in Uttar Pradesh. The deceased were identified as Head Constables Umeed Singh of Rewari (Haryana), Yogendra Sharma (Delhi) and Pokarmal of Jhunjhunu (Rajasthan). Also Read – India gets first tranche of Swiss bank a/c details This is the first fratricidal incident of this year in Jammu and Kashmir. Security forces have in the past engaged counsellors to address the problem which have been attributed to long duty hours in hostile environment, separation from families, lack of recreational activities and a weak command and control structure. Better command and control, frequent leave facilities to join families and adequate recreational facilities are some of the remedial measures suggested by counsellors to address the problem.last_img read more

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Vote for AAP because we worked for development CM to people

first_imgNEW DELHI: Delhi Chief Minister Arvind Kejriwal on Sunday held a roadshow for West Delhi candidate Balbir Singh Jakhar. The road show was held at the Dwarka in presence of local MLAs and other leaders. This was held a day after the Chief Minister was slapped by a person in a roadshow in North East Delhi. For the Sunday rally, the security for the Delhi CM was increased by the police.In the roadshow, the Chief Minister urged the people to vote for the Aam Aadmi Party because they have worked for the development of Delhi. The CM also warned the people and urged not to vote for the Congress party. Also Read – Odd-Even: CM seeks transport dept’s views on exemption to women, two wheelers, CNG vehiclesMeanwhile, Gujarat MLA Jignesh Mevani and Kannada actor Prakash Raj campaigned for AAP’s East Delhi candidate Atishi on Sunday, a party leader said. Kafeel Khan, whose name surfaced in the death case of 63 children at Gorakhpur’s BRD Medical College, also campaigned in East Delhi for Atishi. The AAP claimed Khan was hailed as a “hero” for arranging jumbo oxygen cylinders to save dying kids. “The fabulous results of 94.24 per cent students passing in the XII board exams this year is a lasting legacy of her work in government schools.” tweeted Mevani. Also Read – More good air days in Delhi due to Centre’s steps: JavadekarIn another tweet, he wrote, “In East Delhi with AAP’s candidate Atishi. This is AAP’s candidate and the people’s. She is working being between you, and wishes to work for your benefit. No caste, no religion – press the button on work.” Mevani also addressed a gathering at Old Seemapuri where he said, “I came here from Gujarat to support your candidate Atishi. I come from Gujarat but I am not a lier and I speak truth.” Mevni attacked PM Narendra Modi and explained why it is important this election to defeat Modi-Shah regime. Actor-turned-politician Prakash Raj will campaign for the Aam Aadmi Party (AAP) in Delhi for a week. Raj began his campaign from the Northeast Lok Sabha constituency on Saturday evening with a meeting in support of AAP candidate Dilip Pandey at Babarpur. On Sunday, he campaigned for Atishi in East Delhi. “AAP is fighting elections on the issues of health, education, their vision, and based on their work. I am here to support such candidates, such party, which is fighting for a change in this election compared to other parties,” he said. “This is what we need. This is my gesture and my belief that different people with different thought processes but love for the country need to come together to reclaim our republic, which is on the verge –and which we may lose –with the onslaught of communal and hate politics of the government that is in place,” he added. Meanwhile, Dr Khan praised Atishi and said, ” We want to see that people like Atishi is going to Parliament. Here the fight is between Atishi and BJP’s Gautam Gambhir, therefore, do not ever do the mistake of choosing BJP because they have shattered the democracy of India.”last_img read more

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