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Africa: ‘harness FDI for development’

first_img27 July 2012Africa is sitting on the cusp of increasing investment, but needs to take advantage of this to drive a more sustainable developmental path for the continent, says South African Trade and Industry Minister Rob Davies.Davies was speaking at the launch of the South African United Nations Conference on Trade and Development (Unctad) Investment Policy Framework for Sustainable Development (IPFSD) at the University of the Witwatersrand in Johannesburg on Thursday.Unctad’s IPFSD is a guideline for national and international investment policy-making to support more sustainable, development-friendly policy-making.It was established to assist policy-makers to design policies that effectively mobilise investment and ensure their positive contribution to sustainable development.Benefits of FDI ‘not automatic’Davies said that while foreign direct investment (FDI) could make a positive contribution to sustainable development, “the benefits to host countries are not automatic”.Regulations were needed, he said, “to balance the economic requirements of investors with the need to ensure that investments make a positive contribution to sustainable development in the host state.“The associated benefits of investment as they relate to technology transfer, skills development and research, among others, need to be purposefully built into the investment regime, and not taken for granted.”Davies said that a recent Unctad report indicated that global foreign direct investment (FDI) showed global FDI flows exceeded the pre-crisis level, averaging US$1.5-trillion in 2011.According to the International Monetary Fund, emerging economies – including those in Africa – are projected to grow by 5.5% this year, and Africa is the second fastest growing continent after Asia.Seeking out new investment opportunitiesSouth Africa’s inclusion in Unctad’s list of top prospective host economies for FDI over the next two years was a positive reflection of the country, as well as the continent’s growth and development potential, Davies said.South Africa has seen growing investment from India and China, and the country is also seeking out new investment opportunities.“We are trying not to make [the attraction of investment into the country] a step- child. There is an incredible amount of negotiation going into it,” he said.“We are sitting on a cusp where there’s growing investment in Africa and South Africa.”Davies attributed the growth on the continent to the mineral products boom, consumption, infrastructure development and that the continent had been spared a sovereign debt crisis.“Although FDI increased across all major economic groupings in 2011, it’s striking that developing economies now account for 45% of global FDI,” he said. Most of the investment was in sub-Saharan Africa.South African companies were also investing into the continent, with direct investment increasing from R3.8-billion in 1994 to R115.7-billion in 2009.Source: SANews.gov.zalast_img read more

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10 months agoWOMEN’S CONTINENTAL CUP: Man City brush aside Brighton for semi-final berth

first_imgTagsPremiership NewsAbout the authorIan FerrisShare the loveHave your say WOMEN’S CONTINENTAL CUP: Man City brush aside Brighton for semi-final berthby Ian Ferris10 months agoSend to a friendShare the loveManchester City easily reached the Continental Cup last four with a 7-1 success over visitor’s BrightonCity finished top of their group and were rewarded with a home draw in the quarter finals of the Continental Cup against Brighton at the Academy Stadium. Their October meeting in the league at Brighton saw City record a comprehensive 6-0 win and they went into this game favourites despite a recent disappointing draw at Bristol City whilst Brighton impressively defeated Liverpool away.A low key first half saw City take an early lead then concede an immediate equaliser before reasserting their authority and going ahead again and dominating the remainder of the half without really threatening the Seagulls goal.In fact the only issue was whether the game would continue as the fog began to settle making visibility across the pitch very difficult.Nikita Parris scored her 50th City goal with a delightful chip after only 6 minutes only for keeper Karen Bardsley to bundle over Ini Umotong moments later and Danielle Buet converted the penalty to level the scores for Hope Powell’s team.City regained the lead midway through the half after Brighton failed to clear and Lauren Hemp pounced with a scuffed effort which squirmed under keeper Sophie Harris.The hosts gave themselves a two goal cushion after a period of sustained second half pressure when Caroline Weir found the back of the net with a fine long range strike.The Seagulls rarely looked like getting back into the game as City played controlled possession football to see off the opposition with Hemp getting her second of the night with five minutes remaining and three more late goals followed, Claire Emslie, substitute Georgia Stanway and Janine Beckie.Full Time Man City: 7 (Parris 6, Hemp 21,85, Weir 59, Emslie 87, Stanway 89,Beckie 90)Brighton: 1(Buet pen 19)Att: 786 Venue: Academy Stadium last_img read more

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ExxonMobil Eagle LNG Crowley Join Forces on LNG as Fuel

first_imgzoom ExxonMobil, Eagle LNG Partners and Crowley have signed an agreement to collaborate on the development of LNG as a marine fuel. The companies said that the goal of the collaboration is to establish the storage and technical support necessary to provide “safe, reliable LNG delivery for vessel operators bunkering in North America.”The three companies signed a Memorandum of Understanding (MoU) on June 27, 2017, and they will initially focus their efforts in Florida before expanding to other North American markets.Under the terms of the deal, ExxonMobil will provide its technical support and expertise to help the parties carry out safe bunkering operations and sell LNG bunker fuel to vessel operators. Eagle LNG Partners will supply the LNG and will design, build and operate small-scale production and storage facilities as well as coordinate land-based LNG transportation. Crowley will provide bunker logistics and ensure safe and reliable operations.“The Memorandum of Understanding is another major step forward in developing LNG as a marine fuel. It will leverage the specialist knowledge and expertise of ExxonMobil, Eagle LNG Partners and Crowley to the benefit of vessel operators bunkering in North America,” said Luca Volta, LNG Venture Manager at ExxonMobil. “This agreement provides additional opportunities for vessel operators looking to adopt LNG as a marine fuel.”The decision by the International Maritime Organization (IMO) to introduce a global 0.50 percent sulfur cap on vessel emissions in 2020 will impact bunker fuel selection. The parties believe that the marine industry is heading for a multi-fuel future that will include low-sulphur options, with LNG an important part of that mix.last_img read more

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Everton Koeman in contract row

first_imgEverton are currently involved in a bitter row with their former manager Ronald Koeman with the Premier League side still paying the majority of his wages for the NetherlandsThe Holland manager was made one of the highest paid managers in the Premier League in June 2016, when he accepted a new three year contract worth £6m a year from Everton.But despite that, Koeman was fired in October 2017 with the club lying in the relegation zone following a poor start to the season. Since then, the former Barcelona player has been appointed the new coach of the Dutch national side.Jose Mourinho is sold on Lampard succeeding at Chelsea Tomás Pavel Ibarra Meda – September 14, 2019 Jose Mourinho wanted to give his two cents on Frank Lampard’s odds as the new Chelsea FC manager, he thinks he will succeed.There really…But the Liverpool Echo has now revealed that the Dutch FA are only paying for less than 10% of his wages due to the settlement he made with Everton following his dismissal.But Everton are believed to be livid with the arrangement after learning of Koeman’s salary with Holland and have begun legal proceedings against their former manager.Previously, Belgium coach Roberto Martinez received a £10m payout from the club following his own dismissal prior to Koeman’s appointment after extensive negotiations with Everton’s lawyers.last_img read more

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RBC Team off to Grand Turk with EZ Pay

first_imgFacebook Twitter Google+LinkedInPinterestWhatsAppProvidenciales, 25 Feb 2016 – RBC Royal Bank executives said the interest in RBC EZ Pay is astounding coming out of the Capital Grand Turk and today, that is where the team is headed to offer the new payment system. The Windmills Plaza is the venue and RBC Bank Manager, Sanfra Foster said they will be in GT for meetings from 9am to 4pm today.EZ Pay is a cashless system of getting paid on the go using mobile devices; like your cell phone. Cruise figures forecast to drop, says Tourism Director Minister of Works puts government buildings reconstruction post hurricanes at $8.6m Related Items:ez pay, grand turk, rbc, royal bank of canada Facebook Twitter Google+LinkedInPinterestWhatsApp Recommended for you Roll Out of EZ Pay in TCI todaylast_img read more

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Government Signs New Industrial Agreement with the Bahamas Customs Immigration Allied Workers

first_imgFacebook Twitter Google+LinkedInPinterestWhatsApp Facebook Twitter Google+LinkedInPinterestWhatsApp#Bahamas, January 19, 2018 – Nassau – The Government signed a new Industrial Agreement with the Bahamas Customs, Immigration & Allied Workers Union at the Ministry of the Public Service, Thursday, January 18, 2018.   Minister of the Public Service and National Insurance the Hon. Brensil Rolle thanked the Minister of Labour, Senator the Hon. Dion Foulkes who he said was instrumental and extremely focused on ensuring that the negotiations concluded in the shortest possible time.He also thanked the negotiators from the Public Service, who assisted and worked tirelessly to ensure that the agreement was reached and signed in a reasonable time.“As always we believe it is the Government’s duty to come to some agreements with the unions that are in the best interests of the people of The Bahamas and the workers.  So today, I am very pleased that we are all here to witness this historical event.”Minister Rolle explained that negotiations began in 2012 with the Bahamas Customs, Immigration & Allied Workers Union.   “The negotiations themselves progressed to June 2013 when the Union filed an action against the Government claiming that the wages of its members were unilaterally reduced and overtime was a part of their wages.“This matter was resolved in the courts and negotiations again resumed in June 17, 2016.  In the interim however, on December 2014, the Government in good faith signed an agreement with the Union, which paid the uniformed members of the bargaining unit on a number of benefits.”He noted, however, that after several meetings in 2016, an agreement was reached on the majority of these issues including an increase in salaries and allowances.  However, talks stalled again once again because of a general union concern.Minister Rolle said, “The former Government sort to in our view divide the workers by inviting members of the Customs, Immigration & Allied Union to write into the Government if they wanted their salary advances.“The result of this was devastating to some degree to the public service because the Ministry of the Public Service then had to create two salary parts for individuals who had accepted the advance and those who were complying with the general views of the union.”He said, “To some degree, some refer to this as a strategic attack by the Government to bust the union by encouraging and causing some members to receive benefits before the negotiations were fully addressed.  As a result of that when we came to office in May, the Government through the Minister of Labour re-opened these negotiations and successfully in this very short period concluded the results.”For his part, Minister Foulkes said the Minister of Labour played the role of negotiator/conciliator to ensure that the talks went well and that there was respect on both sides of the table, which happened.   He said upon being appointed as the Minister of Labour in May 2016, one of the first meetings he had was with Mr. Obie Ferguson and his executive team from the Trade Union Congress which had as number one on its list of concerns, Customs and Immigration.Minister Foulkes also noted that number one on the issue for the Customs and Immigration Officers was keeping the insurance coverage for which they have become accustomed, and the new agreement will allow that to continue.President of the Customs, Immigration & Allied Workers Union Sloan Smith said the Agreement also includes the opening of salary scales that will help some individuals who were stuck at their bar, and an increase in uniform allowance among other benefits.  The contract will expire June 30, 2018.By: Llonella Gilbert (BIS)Photo Caption:The Government signed an Industrial Agreement with the Customs, Immigration and Allied Workers Union at the Ministry of the Public Service, Thursday, January 18, 2018.  Pictured seated from left: Minister of Financial Services, Trade & Industry and Immigration, the Hon. Brent Symonette; Deputy Prime Minister and Minister of Finance the Hon. Peter Turnquest; Minister of the Public Service and National Insurance the Hon. Brensil Rolle; Trade Union Congress President, Obie Ferguson and President of the Customs, Immigration & Allied Workers Union, Sloan Smith.  Standing second from right, Minister of Labour, Senator the Hon. Dion Foulkes.(BIS Photo/Derek Smith) Related Items:last_img read more

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Burnley star signs new contract

first_imgBurnley youngster McNeil has signed a new contract with the club and has put paid to speculations over his exit from the club.The teenager signed his first professional contract at the club last April and has been in blistering form since he made his debut for the club last season.“A lot has happened in a short space of time and I’m happy to have signed a new deal,” McNeil Lancashiretelegraph.“I hadn’t really thought this far ahead but I’m just happy it’s come so soon.Burnley FC v Manchester City - Premier LeagueMatch Preview: Burnley vs Liverpool Boro Tanchev – August 30, 2019 Premier League leaders Liverpool travel to Burnley for the Matchday 4 of the 2019-20 Premier League campaign.“The main aim was to sign it so I can focus on my football and I’ve done that now so I can focus and crack on with what I’m doing.“I think I’ve taken my opportunity well and hopefully I can build on that.“Hopefully I can stay in the team and really focus on this season. I think we’re doing well and we’ve got to keep that form going.“It’s a dream staying in the Premier League. It’s the best league in the world and you always want to stay and play in the Premier League.”last_img read more

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We dont know how to take advantage of Messi Tagliafico

first_imgThe Argentina national team left-back believes his country has the best player in the world, but they don’t know how to use him.At club level, Barcelona star Lionel Messi is simply one of the best, if not the best player in the whole world.But at the national team level, he has had trouble, not being able to lift any silverware with the senior squad.This has pushed him away from the team as he hasn’t played with them since they were eliminated by France in the 2018 FIFA World Cup in Russia.But for defender Nicolas Tagliafico, the problem is his country doesn’t know how to take advantage of a player like Messi.“We have seen two glorious stages in our football with [Cesar Luis] Menotti and [Carlos] Bilardo, which are two different ways of understanding football,” Tagliafico was quoted by Goal.“We have not found out which is the best [style of play] for our time, or which one is the best to help Leo [Messi].”Top 5 players who can actually replace Messi and Ronaldo Tomás Pavel Ibarra Meda – September 13, 2019 After Pep Guardiola’s latest defense of Messi and Ronaldo, we need to start talking about the Top 5 players who can replace them.Replacing Messi and…“He’s the best player in the world and we do not know how to take advantage of him,” he added.“We have to find an idea or a coach that makes us understand the opportunity he represents and bring that order we need.”“It’s not the same to be in a club for 15 years knowing everything,” he tried to explain.“In the national team, either because of the change of president, coach or because of the passion we have that blinds us, we are not able to put together projects every year. That’s not easy.”“Leo did not have the luck to be crowned. He reached three finals, but we do not have the project that, for example, Barca does,” he concluded.Argentina will play two friendlies on March: the first against Venezuela on the 23rd, while three days later they will play against Morocco.last_img read more

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Cabrillo National Monument remains closed amid government shutdown

first_img Posted: January 7, 2019 Cabrillo National Monument remains closed amid government shutdown , January 7, 2019center_img 00:00 00:00 spaceplay / pause qunload | stop ffullscreenshift + ←→slower / faster ↑↓volume mmute ←→seek  . seek to previous 12… 6 seek to 10%, 20% … 60% XColor SettingsAaAaAaAaTextBackgroundOpacity SettingsTextOpaqueSemi-TransparentBackgroundSemi-TransparentOpaqueTransparentFont SettingsSize||TypeSerif MonospaceSerifSans Serif MonospaceSans SerifCasualCursiveSmallCapsResetSave SettingsSAN DIEGO (KUSI) – We’re entering the third week of the government shut down, and some of the national parks that left their gates open can feel it.They’re understaffed, so they’re finding trash on the ground and vandalism, forcing some of our most beautiful treasures to close.The National Park Service says they’re going to start using entrance fee funds to get some people back to work and to protect the parks, but here in San Diego, the doors remain closed at the Cabrillo National Monument.Dozens of cars, joggers, and bikers planned a day at the Cabrillo National Monument to take in the fresh air, the rich history and the breathtaking views. Categories: Local San Diego News, National & International News FacebookTwitterlast_img read more

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