With exports set to rise, economists believe South Africa’s economy will climb slightly higher in 2014. (Image: Brand South Africa) • Manusha Pillai Communications Manager Brand South Africa+27 11 483 0122 firstname.lastname@example.org • Zuma urges Team SA to sell South Africa at Davos• WEF Davos 2014: Keeping up with a fast-changing world • Watch: Davos 2014 pre-meeting press conference• Cape to Cairo trade agreement to open up African borders • Watch: The South African Competitiveness ForumShamin ChibbaTeam South Africa will join the World Economic Forum’s (WEF) annual meeting in Davos, Switzerland, with a compelling argument to sell the country as an attractive investment destination.A sign that the South African economy is on the up is the positive growth international economists have forecast for 2014. In its Global Economic Prospects report released on Wednesday 15 January, the World Bank predicts a growth rate of 2.7%, an improvement on last year’s 2%. The International Monetary Fund is even more optimistic: its World Economic Outlook report for 2014 expects South Africa’s growth rate to reach 3.3%.Matthew Sharrat, chief economist at Bank of America Merrill Lynch South Africa, is also more hopeful than the World Bank, saying economic growth could reach 2.9%. At a briefing held in Johannesburg on 16 January, he said the increase was in anticipation of a rise in exports to Europe, the US and China. This would generate as many as 280 000 new jobs a year. However, a Daily Maverick report said this was not enough to reduce the unemployment rate of 24%. For unemployment to drop to the government’s goal of 10%, economists believe a sustained growth of 5% a year is needed.The World Bank says the slight increase in growth is because the American Federal Reserve is narrowing its asset purchases, which could lead to a rise in base interest rates. And with South Africa heavily tied to global financial markets, it points out that the country is “particularly vulnerable to sudden stops of capital”. Despite this, the bank predicts that in 2015, South Africa’s economic growth rate will rise to 3.4%.Growing with BricsAt the first Brics Business Council, held in August 2013, Trade and Industry Minister Rob Davies described the Brics nations – Brazil, Russia, India, China and South Africa – as places of growth. It is not an unwarranted claim: the grouping accounts for one-fifth of the global gross domestic product, estimated at US$13.7-trillion (R149-trillion).In 2012, the five nations made up about 11% of global annual foreign direct investment flows, with a value of $465-billion. And its foreign reserves combined are worth an estimated $4-trillion. While the member nations collectively make up 43% of the world’s population, 53.3% of its people are economically active.According to the WEF 2013-2014 Global Competitiveness Report, South Africa outperforms its Brics peers in a number of major competitive pillars, including institutions, goods market efficiency and financial market development. When it comes to innovation and sophistication factors, it is second only to China. South Africa’s trade with Brics partners grew from 6.2% in 2005 to 16.8% in 2011. By 2012, the country’s trade with Brics had grown tenfold from $3.2-billion to $37-billion. And the one nation that has increased its presence markedly in South Africa is China.Foreign tradeThe executive chairman of J&J Group, Jayendra Naidoo, said that in the last five years the country had been viewed as an “investment launch pad” for those wanting to do business in Africa. This was particularly evident when it came to fellow Brics member China. “Chinese companies seem to have identified South Africa as a good place to do business, and are setting up offices here.” J&J Group is an investment holding and management company.Indeed, the UN Conference on Trade and Development stated that trade between China and Africa had increased tenfold since 2000 to just under $170-billion (R1.85-trillion) in 2012. That is more than twice the dealings between the US and Africa, something the Americans will have to be concerned about if they are to keep a firm hold on trade on the continent.Just 13 years ago, the US was South Africa’s biggest export market. In 2012, it was second to China, importing 8.7% of South Africa’s goods.African integrationBut before South Africa can think about trade with major foreign powers, it needs to improve trade among its neighbours. It is driving integration among African countries, according to Brand South Africa chief executive, Miller Matola. This is because the country has created an open environment for business, which will allow goods and people to flow across borders more freely.The Department of Trade and Industry is also leading talks of integrating the three regional trade blocs of the Southern African Development Community, the Common Market for Eastern and Southern Africa, and the East African Community. Combined, these three regions consist of 26 countries.Stanley Subramoney, the chairman of the Nepad Business Foundation, suggested that poor road and rail networks between major African cities needed to be improved if trade was to flourish on the continent. “The infrastructure is designed mostly for trade outside of the continent and is not built for intra-African business.”He added that the projected infrastructure deficit from now until 2040 was approximately $93-billion a year. And though Africa was spending about $48-billion on infrastructure annually, Subramoney said inefficient authorities who managed the trade corridors cost the continent as much as $17-billion.Global competitivenessIn the WEF 2013-2014 Global Competitiveness Report, South Africa has dropped one place to 53rd out of 148 countries. However, the index shows it has improved in four of the 12 pillars – institutions (41), goods and market efficiency (28), business sophistication (35), and innovation (39).It is also the global leader in five criteria, namely: strength of auditing and reporting standards, efficacy of corporate boards, protection of minority shareholders’ interests, regulation of securities exchanges, and the legal rights index. The country has also progressed on the innovation pillar by three positions, finishing in 39th place. It is hoped this will be harnessed to drive the National Development Plan as the country’s blueprint for economic and social development by 2030.Matola said that to be more competitive, South Africa needed to focus on further improving innovation and introduce entrepreneurship as a viable career choice for young adults.He also noted that to attract investors to the country, the health sector needed fixing as businesspeople looked for a healthy workforce. Matola referred to the United Nations’ Human Development Index for positive signs of a health sector on the mend. The country had improved on its infant mortality rate and had significantly reduced the incidence of mother-to-child transmission of HIV/Aids. read more
Share Facebook Twitter Google + LinkedIn Pinterest Today’s average yield for the I-71 leg was 191.9 bushels as yields improved as we moved into southern Ohio. Here is more from the I-71 crew after the second day.
Tags:#news#web marshall kirkpatrick A Web Developer’s New Best Friend is the AI Wai… Related Posts Author, blogger, photographer and PR firm founder Brian Solis announced yesterday that he has joined boutique technology marketing analyst firm Altimeter Group. Solis will accompany founder Charlene Li, partners Lora Cecere, Jeremiah Owyang, Alan Webber and fellows Marcia Conner and Deborah Shultz in helping global corporations define strategies concerning social media and more.Altimeter is one of the most high-profile of a growing number of boutique analyst firms that use production of free content on platforms like blogs and Twitter in order to generate consulting leads with big clients. Solis rounds out a leadership team now consisting of some of the most prominent social strategists on the web, all in one small shop. Other examples of boutique firms making putting heavy emphasis on social media content production include technical developer analysts RedMonk and analyst industry analysts Sage Circle.Solis by the NumbersBrian Solis is a prolific writer. His most recently published book is titled Engage: The Complete Guide for Brands and Businesses to Build, Cultivate, and Measure Success in the New Web. He’s posted more than 300 times to his blog BrianSolis.com over the last 18 months, averaging a remarkable 4.5 posts per week. For what it’s worth, Solis’s long time friend and now co-worker at Altimeter Jeremiah Owyang is also a prolific blogger. Owyang has posted more than 200 times in the last 18 months, an average of 3 posts per week. We covered Owyang’s August, 2009 departure from large analyst firm Forrester (and what it said about the analyst industry) in depth. In addition to blogging, the Altimeter team is unusually active on Twitter. Solis now owns the team’s longest running account on that service, having joined just two days before Deborah Shultz in November, 2006. (4 months before the service blew up at SXSW 2007.)In a recent analysis of the social media habits of more than 140 people responsible for social strategy at corporations around the world, Brian Solis was the 3rd most commonly followed individual Twitter user among members of that group. Owyang was #1 and Charlene Li was #2, meaning that the Altimeter team now includes all 3 of the 3 most-followed individuals on Twitter in the corporate social strategy world. Top Reasons to Go With Managed WordPress Hosting Why Tech Companies Need Simpler Terms of Servic… 8 Best WordPress Hosting Solutions on the Market read more
Ethel Booba on hotel’s clarification that ‘kikiam’ is ‘chicken sausage’: ‘Kung di pa pansinin, baka isipin nila ok lang’ Through the course of the six-game championship series, the KaTropa drew huge contributions from their upstarts like Roger Pogoy, RR Garcia, and Troy Rosario — all of whom have carved their niche in coach Nash Racela’s system.Castro had high praise for Pogoy, who emerged as a vital piece for TNT this conference.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSWin or don’t eat: the Philippines’ poverty-driven, world-beating pool starsAnd though losing in the Finals stings, Castro thinks these kinds of experiences could only help their young guns grow.“This conference, I’m happy with their performance. Like with Pogoy, I tell it to him to stay confident. Even though we lost, it’s a huge boost for him to play in the finals and it will only be huge for us for the next conference. I hope they bring the lessons they get from this when we make it again in the Finals,” he said. MOST READ Pogoy heard Castro’s message loud and clear, and if there’s one thing he could take away from this bitter memory, it’s that just like in any level of basketball competition, championships could only be achieved through teamwork.“We can’t win it if we think of ourselves individually. Just like what San Miguel did, we have to share the ball and work as a team,” he said.Sports Related Videospowered by AdSparcRead Next China furious as Trump signs bills in support of Hong Kong View comments TNT KaTropa. Tristan Tamayo/INQUIRER.netTNT lost the 2017 PBA Commissioner’s Cup Finals but Jayson Castro believes that his team learned a lot from its clash with a powerhouse squad like San Miguel.“We had a lot of young guys in this team. We only have five remaining from the old core that we had, so the finals was a great learning experience for us all,” Castro said in Filipino.ADVERTISEMENT Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games Pagasa: Kammuri now a typhoon, may enter PAR by weekend Another vape smoker nabbed in Lucena LATEST STORIES Cayetano to unmask people behind ‘smear campaign’ vs him, SEA Games What ‘missteps’? LOOK: Jane De Leon meets fellow ‘Darna’ Marian Rivera Lacson: SEA Games fund put in foundation like ‘Napoles case’ Don’t miss out on the latest news and information. Injured Kyrgios pulls out of Wimbledon opener read more
New Delhi, Dec 1 (PTI) Honda Cars India Ltd (HCIL) today reported a 47.2 per cent jump in its domestic sales at 11,819 units in November.The company had sold 8,029 units in the same month last year, HCIL said in a statement.Last month, the company sold 154 units of small car Brio, 2,039 units of premium hatchback Jazz, 1,976 units of compact sedan Amaze and 3,315 units of mid-sized sedan City.The company also sold 3,521 units of its new compact sports utility vehicle (SUV) WR-V. While SUV BR-V saw sales of 793 units, those of SUV CR-V stood at 21 units.In addition, it exported a total of 283 units during the month under review.On the sales performance, HCIL President and CEO Yoichiro Ueno said: “Last year, HCIL sales in November were severely affected by demonetisation. Although November volumes this year have shown improvement over last year, the market is still to recover fully from the GST related changes affecting consumers at large.” PTI RKL ARD read more