South Africa’s current account deficit narrows

first_img19 June 2014 South Africa’s current account deficit narrowed to 4.5% of gross domestic product (GDP) in the first quarter from a shortfall of 5.1% in the last quarter of 2013, the Reserve Bank said on Wednesday. “As a ratio of GDP, the deficit on the current account narrowed to 4.5%,” the central bank in its June Quarterly Bulletin. Market expectation had been for the deficit to widen to 6.1%. According to the bulletin, the annualised shortfall on the trade account widened to R75-billion in the first quarter from R45-billion in the fourth quarter of 2013. “The deficit on the services, income and current transfer account with the rest of the world narrowed considerably on account of notably lower net dividend payments to non-resident investors. The contraction in the deficit on this account more than neutralised the deterioration in the trade balance,” the bulletin noted. Nedbank said the improvement in the current account deficit was encouraging, adding that it could narrow further during the remainder of this year as global conditions continued to improve. “However, this will require a normalisation of production activity in the platinum sector and avoidance of further crippling disruptions in the local economy,” Nedbank added.Domestic expenditure grows 2.7% Meanwhile, spending in the country showed growth of 2.7% in the first quarter, the Reserve Bank’s bulletin shows. “[In] contrast to the contraction observed in domestic production in the first quarter of 2014, real gross domestic expenditure switched from negative growth at an annualised rate of 3.6% in the fourth quarter of 2013 to positive growth of 2.7% in the first quarter of 2014.” According to the bulletin, the acceleration was brought about by a moderation in the de-stocking of real inventories, while growth in all the components of final demand lost some momentum over the period. “The slower pace of inventory de-accumulation made the strongest contribution to growth in real gross domestic product in the first quarter of 2014.” Growth in real final consumption expenditure by households moderated for the eighth time in nine consecutive quarters. It grew at 1.8% from an annualised 2% rate in the fourth quarter of 2013. The ratio of household debt to disposable income edged down slightly to 74.5% from 74.6%. Nedbank said growth in domestic demand was likely to remain lacklustre in the second quarter as household finances remained weak and the government was still committed to reducing the fiscal deficit and growth in the public sector wage bill over the medium term. “Some improvement in household spending could be experienced during the second half of the year as the strike in the platinum mining sector ends,” Nedbank said, but added: “Firms will still be wary of expanding capacity aggressively in the current weak economic environment, while high input costs, persistent labour-related disputes in some of the key industries and general infrastructure constraints continue to hurt sentiment.” Source: SAnews.gov.zalast_img read more

Economic depreciation change for equipment

first_imgShare Facebook Twitter Google + LinkedIn Pinterest Deterioration in profit margins for major Midwestern field crops over the last three years has created a changing environment with respect to farm machinery and equipment investment. The strong returns for Midwestern field crops from 2006 to 2013 together with favorable tax incentives (bonus depreciation and Section 179 expensing) led to strong demand for new and used farm machinery and equipment over this period. The subsequent period (2013 to present) of lower crop prices and profit margins has led to relatively weaker demand for farm machinery and equipment over this period. This weaker demand has led to softer markets for used equipment and trade-ins. These lower prices for farm machinery and equipment trade-ins has created a higher rate of implied economic depreciation for this machinery and equipment compared to the previous high profit period.An analysis of farm machinery and equipment sales data from the online used farm equipment sales platform, Machinery Pete, allows us to examine the change in resale prices of used farm equipment over the period of profit margin change from 2000 through 2015.FindingsThe average depreciation for eight tractor models over the 2002-2015 period averaged $24.26 per tractor hour.The average depreciation for eight tractor models over the 2002-2006 period averaged $31.68 per tractor hour.The average depreciation for eight tractor models over the 2007-2013 period averaged $19.46 per tractor hour.The average depreciation for eight tractor models over the 2014-2015 period averaged $22.50 per tractor hour.Evidence of fluctuations in economic depreciation between periods of high and low profitability seems to be supported by the data. ConclusionsCalculating depreciation per machine hour for power equipment may be more accurate than traditional methods of calculating depreciation.Fluctuations in general farm profitability and machinery and equipment demand should be considered when utilizing hourly depreciation measures.Follow equipment resale markets to discern changes in economic depreciation.Change in resale price per unit and price per-hour-of-use of select makes/models over this time series implies a change in economic depreciation between periods of high profit margins and periods of low to negative profit margins.The tractors examined in this study were found to have a lower resale value per unit and per-hour-of-use and therefore higher implied economic depreciation in the period of lower profit margins from 2014 through 2015 compared to the period of higher profit margins from 2007 through 2013.last_img read more

Davis Cup: Yuki goes down tamely, India lose play-off tie 2-3

first_imgYuki Bhambri at Davis Cup 2014 (AP Photo)India’s agonising wait to return to the World Group continued as the hosts lost 2-3 to Serbia in the rain-hit playoff tie after Yuki Bhambri surrendered tamely in the decisive fifth rubber against Filip Karjinovic in Bangalore on Monday.Krajinovic turned out to be a hero for the Serbians with his 6-3 6-4 6-4 win as the 2010 champions reclaimed their place in the World Group.The result means that India will now again fight it out in Asia/Oceania zone in the 2015 season. The last time India had made it to the World Group was in 2011, interestingly losing to Serbia in the first round.Yesterday, till the rain forced suspension of play in the second reverse second singles between the number two players, Yuki was fighting tooth and nail following Somdev Devvarman’s inspiring win over Dusan Lajovic.However, Yuki did not look the same fighting player today as he failed to rein in his unforced errors and failed to grab his chances. Twice Yuki had the opportunity to break Krajinovic and turn it around but he failed to do so.Coming to the courts this morning, trailing 4-6 4-4, dropping serve was the last thing Yuki needed but he did exactly that and when he had a chance for redemption in the next game, he could not do so.He squandered two break points when Krajinovic was serving for the second set. Krajinovic though played like a man possessed as he saved the breakpoint with a fiery ace. The Serbian was precise in his stroke-making and hit winners at will.advertisementPlaying a live fifth rubber for the first time, Yuki was far from convincing in his effort as he dropped serve in the first game of the third set at love as Krajonovic raced to a 3-1 lead.Yuki’s serve deserted him as he won only four points in three service games. He saved himself from falling further by saving two break chances in the fifth. The set went with serve and Krajinovic sealed the tie without any fuss.In the 114-year-old history of Davis Cup, there have been only 51 instances when nations have came back from 0-2 to win the tie and India have done that only once when they beat Brazil in 2010 in Chennai. Somdev had won the fourth rubber then and Rohan Bopanna the fifth.On Saturday, Leander Paes and Rohan Bopanna had brought India back with their stunning win in the doubles after the hosts lost both the singles on Friday.Somdev then pulled off a majestic win in the fourth rubber over Dusan Ljovic to lock the tie 2-2.last_img read more

2020 Honda Civic hatchback gets a meaner face and more sweet sixspeed

first_imgEnlarge ImageThe 2020 Civic hatchback in Sport Touring trim looks a little meaner and can be had with a six-speed manual. Honda The present generation of Honda Civic is better than it’s been in a really long time. So when Honda announced on Thursday that it was tweaking the hatchback version for 2020, we were psyched.The changes to the Civic hatch aren’t massive, but that’s no bad thing because the car was already good. The most significant change — and the one that’s going to get enthusiasts’ hearts pumping the most — is the addition of a six-speed manual transmission in the top Sport Touring trim level. If you know Honda, then you know that gearbox is going to be good.In addition to the six-speed manual, Honda is offering a CVT transmission, and with that choice, you get remote start. The Sport trim level also gets push-button ignition and keyless entry as standard.2020-honda-civic-hatchback-sport-touring-056Enlarge ImageThe interior of the 2020 Civic hatchback sports an updated infotainment system and typical Honda practicality. Honda Next, the big H made some slight adjustments to the vehicle’s styling; specifically, it gave the hatchback a more aggressive look in the front and rear. Now, it’s definitely not Civic Type R levels of aggression, but it suits the car quite well.Inside, Honda is using the dashboard trim to help differentiate between trim levels. For example, top-spec EX-L and Sport Touring get a brushed black finish while the Sport trim gets a geometric pattern. Also on deck is an upgraded Display Audio system which still offers physical controls and both Android Auto and Apple CarPlay integration.Pricing for the 2020 Civic hatchback ranges from $21,580 for the base LX model with the CVT transmission and $22,750 for the Sport trim with manual transmission to $29,780 for the Sport Touring model with CVT, and all are set to go on sale on Friday. 2019 Honda Civic Sedan: Small visual updates and friendlier tech More From Roadshow 2020 Mini JCW Clubman first drive: A fast alternative for the crossover-averse Preview • Apple CarPlay lets iOS take over a Mercedes-Benz Honda Tags 2 Share your voice News • 2018 Toyota Camry and Sienna eligible for Apple CarPlay, Amazon Alexa retrofit Hatchbacks Car Industry Honda 2020 Toyota 4Runner first drive: Same as it ever was — mostly 2020 Kia Soul review: Well-rounded box More about Apple CarPlay Comments Honda Civic Type R TCR is one serious $172,000 race car 4:41 Review • Apple CarPlay review: What’s it like after one month of heavy use? Now playing: Watch this: 63 Photoslast_img read more

Heres all about Maitri Bridge over Indus river Longest suspension bridge made

first_imgMaitri Bridge in Leh-LadakhTwitterMaitri Bridge, the 260-feet long suspension bridge, was built in just 40 days over the Indus river in Jammu and Kashmir’s Leh district. It was opened to the public on Monday, April 1.The bridge is situated at Choglamsar village in Leh and is the longest suspension bridge over the Indus river.The name Maitri symbolises the friendship between the military personnel and locals. The bridge was constructed by Combat Engineers of the Sahas Aur Yogyata Regiment of Indian Army’s Fire and Fury Corps in a record time of 40 days. Almost 500 tonnes of equipment and construction material were taken to the location, reports ANI.  The bridge will help the residents of Choglamsar, Stok and Chuchot, which are said to be the largest villages in the regionTwitterAccording to India Today, the bridge has been constructed to help the residents of Choglamsar, Stok and Chuchot.According to ANI, the bridge was inaugurated by war veterans who were part of 1947-48, 1962, 1971 and 1999 operations in Jammu and Kashmir. They were led by an 89-year-old war veteran, Naik Phunchok Angdus (retd). The opening ceremony was conducted in the presence of Lt Gen YK Joshi, General Officer Commanding, Fire and Fury Corps.  Other army veterans, senior army officials and civil administrators were present during the opening of the bridge.Twitter 89-year-old war veteran, Naik Phunchok Angdus (retd) formally opening Maitri BridgeTwitterlast_img read more

KL Rahul ridicules Hardik Pandya You cannot swing the ball only concede

first_imgPandya and Rahul in England.Gareth Copley/Getty ImagesKL Rahul and Hardik Pandya are very good friends as they can often be seen spending time together when on tour with the Indian team. But since landing in trouble on Koffee With Karan, they have maintained a low profile. Now, an old video of the two has resurfaced where Rahul can be seen ridiculing Pandya’s bowling.This video was shot on the aeroplane when India was travelling to England last August and it was uploaded by BCCI on their website. As India once again prepares to take the flight to England for the ICC World Cup, this video has resurfaced.In the video, Pandya can be seen going around the flight, asking questions to various members of the Indian squad. Spinner Yuzvendra Chahal was accompanying Pandya as the two were entertaining themselves and also the rest of the travelling contingent. Pandya went around a bit before reaching Dinesh Karthik’s seat where the KKR skipper could be seen relaxing and watching something on his laptop. Hardik Pandya picked up his maiden fifer in Tests against England in Nottingham.PAUL ELLIS/AFP/Getty ImagesPandya climbed onto Karthik’s seat and asked him what he wants to say. The wicketkeeper-batsman looked confused as he did not how to respond to Pandya as he had asked nothing substantial. Subsequently, Rahul joined the band and spoke about how excited he was as it was his first tour of England.”[I am] Excited about England. My first time and I have prepared for a long to travel to England,” Rahul said while being interrupted by Pandya. The Mumbai Indians all-rounder was then asked about England by Rahul as he had been to the country before. “Good, I mean [the conditions for bowling are] good. The ball swings around,” Pandya quipped.Rahul seemed amused by Pandya’s reply and said, “Kya ball swing karaya hai tumne! Maar kha ke aaya hai udhar.” The approximate English translation of that is, “What swing you extracted I wonder! The only thing you did was concede loads of runs.” Everyone had a good laugh at Pandya’s expensive and Rahul subsequently walked off saying when Pandya talks in English, people must simply walk away. KL RahulRyan Pierse/Getty ImagesThe best moment of the video came when Pandya approached MS Dhoni. The former India captain was watching a movie on his laptop and when Pandya greeted him, Dhoni simply offered him a wafer and waved him away. Pandya seemed embarrassed and said, “Bye Mahi bhai.”Pandya went around talking to various people on the flight including skipper Virat Kohli, spinner Kuldeep Yadav and fast bowling sensation Jasprit Bumrah. The entire Indian contingent will once again board the flight to England and the squad which will take the said flight will be declared on April 15.last_img read more

Cognizant sees no impact on revenue despite Chennai floods

first_imgUS-based Cognizant Technology Solutions on Tuesday reaffirmed its full-year revenue guidance of at least $12.41 billion set for the calendar year 2015 despite disruptions to its operations caused by the recent floods in Chennai.The company, which has major operations in India, manages 11 delivery and operations centers in Chennai, which recently witnessed one of the worst floods in the past several decades. Cognizant said in a statement that its business continuity plan largely mitigated the financial impact of the flooding.The IT services provider also maintained its non-GAAP diluted EPS guidance of at least $3.03.Cognizant said all its employees are safe and accounted for and that its comprehensive business continuity plan enabled continuity of critical work for its clients.Last month, Cognizant had announced to spend $40 million (Rs 260 crore) to help flood victims, its employees and business partners in the flood-hit capital city of Tamil Nadu.”In December, Chennai experienced heavy rains that caused unprecedented flooding. During this period, the company’s key priorities were ensuring the safety of its employees and their families, and maintaining continuity of critical operations for clients,” it said.A few Indian companies including Tata Consultancy Services (TCS) and Wipro have already warned about Chennai floods weighing on their earnings in the December quarter.TCS, India’s largest IT firm, had earmarked Rs 1,100 crore to offer interest free cash advances to its employees in Chennai .last_img read more

Samsung Galaxy Note 10s major design element leaked and youll love it

first_img 5g network speed test: How fast is fast enough? Samsung Galaxy Note 10 is the next big release after Galaxy S10-series made waves in the industry. The upcoming flagship is expected to be more refined than the current flagship, both in terms of hardware and software. Now, a freshly leaked detail about the upcoming Note 10 could significantly contribute towards the overall appeal and visual delight of the phone.According to Android Police, sources within the company have revealed that Samsung will ditch the 3.5mm headphone jack in its Galaxy Note 10. While this is an expected move, the reason behind it could be accommodating a bigger battery if not following the trend. But that’s not the change we are excited about.The sources further revealed that Samsung will also get rid of any physical buttons such as for volume and power in its Note 10. This will give the company to achieve a thinner frame design without any cutouts for keys or buttons. Imagine a sleek design with no disruption of any kind in a streamlined design, and Samsung might have a winner at its hands with Note 10.There’s no reason to be alarmed about the lack of physical buttons on the phone as Samsung will offer capacitive or pressure-sensitive areas highlighted by a bump or recognisable texture for volume and power functions. It’s still a neat change that could add value to the overall design of the phone. Samsung Galaxy Note 10 renderBen Geskin – TwitterSamsung phones are always one of the better-looking gadgets in the market. The cutout camera in the display was the highlight of this year’s Galaxy S10-series, which allowed the company to achieve the highest screen-to-body ratio. It is likely that the company will continue the punch-hole display concept for its Note-lineup as well.We are quite far away from Galaxy Note 10’s official launch as Samsung will traditionally make the announcement in August. According to other rumours, the rear cameras will be rearranged and won’t get the standard horizontal layout. It will get a more traditional vertical arrangement of camera sensors on the back. Ben Geskin imagined the design of the Galaxy Note 10 in his renders, which hinted at two models – one with a single front camera and the other with dual cameras. Samsung Galaxy Note 10 renderBen Geskin – TwitterOther expected features include 6.66-inch 19:9 ratio display, a large 4,500mAh battery with super-fast charging and the latest Exynos chipset found in the Galaxy S10-series. The single front camera version is also expected to have a smaller battery of 3,400mAh and mostly a smaller display too.It’s all too soon to draw conclusions, so readers are advised to take these rumours with a pinch of salt. Closecenter_img IBTimes VideoRelated VideosMore videos Play VideoPauseMute0:02/0:30Loaded: 0%0:02Progress: 0%Stream TypeLIVE-0:28?Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedSubtitlessubtitles settings, opens subtitles settings dialogsubtitles off, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window. COPY LINKAD Loading …last_img read more

UPDATE 1 Dead 6 Hurt At NYC Hospital Gunman Apparently Kills Self

first_imgHe said an alarm went off, and police said there was an active shooter in the hospital. Someone on the loudspeaker also announced a “Code Silver.” “She woke me up and told me there was a situation, somebody’s out there shooting people,” Trimble said as he waited for his wife to come out. “I could hear in her voice she was shaking and about to cry.” Emergency crews were blocked from entering the hospital while the shooter was at large. “I thought I was going to die,” said Renaldo Del Villar, a 55-year-old patient who was in the third-floor emergency room getting treatment for a lower back injury. The FBI tweeted that they had found “no nexus to terrorism” so far. A doctor with a rifle hidden under a lab coat opened fire Friday at the Bronx hospital where he used to work, killing one person and wounding six others before taking his own life, authorities said. Share Gonzalo Carazo described the scary scene to WCBS-TV. “I saw one of the doctors and he had a gunshot wound to his hand,” Carazo said. Police officers went floor by floor looking for the gunman and reported just before 4 p.m. that he was dead inside the building. A law enforcement official told The Associated Press that the gunman killed himself. He had opened fire on the 16th and 17th floors, police said. Law enforcement officials identified the shooter as Dr. Henry Bello, who was described on the hospital website as a family medicine physician. It was not immediately clear why Bello was no longer working at the hospital. The officials were not authorized to discuss the still-unfolding investigation and spoke on condition of anonymity. Garry Trimble said his wife, hospital employee Denise Brown, called him from inside the hospital shortly after 3 p.m. The shooting started at 2:50 p.m. inside the Bronx Lebanon Hospital, drawing a heavy police presence to the area as officers with guns drawn told people to hide. Hospital employees barricaded themselves in rooms to escape the violence. “I asked them, ‘Are we safe here?” Del Villar said. “When there’s a shooter and you don’t know where the shooter is, you don’t know what’s going to happen.” The 120-year-old hospital has nearly 1,000 beds and one of the busiest emergency rooms in New York City. It is about a mile and a half north of Yankee Stadium. JUST IN: At least 3 people shot at Bronx-Lebanon Hospital by a gunman, law enforcement sources say. https://t.co/SgGzAZGqq9 pic.twitter.com/4eMyM0Gb5b— ABC News (@ABC) June 30, 2017 APPolice help people cross the street outside the Bronx Lebanon Hospital in New York after a gunman opened fire there on Friday, June 30, 2017. The gunman, identified as Dr. Henry Bello who used to work at the hospital, returned with a rifle hidden under his white lab coat, law enforcement officials said. (AP Photo/Mary Altaffer) JUST IN: Shooting reported at New York hospital https://t.co/qgPVWVuKpq pic.twitter.com/ef39fQKzlx— AJC (@ajc) June 30, 2017 “All I heard was a doctor saying, “Help, help!” Carazo locked himself in a room for about 15 minutes until police came and led him out of the hospital. In 2011, two people were shot at Bronx Lebanon in what police said was a gang-related attack.last_img read more

Law Enforcement Is Ready To Catch Drunk Drivers During 4th Of July

first_imgListen 00:00 /01:05 Al OrtizHarris County Sheriff’s deputies will be watching the roadways in patrol cars like these, which is part of its DWI Unit.Texas has a high number of drunk driving incidents and law enforcement is ready to catch those who break the law in the Houston region during the 4th of July.The most recent data compiled by the Texas Department of Public Safety (DPS) pertain to 2015.That year there were 65,609 arrests for Driving Under the Influence (DUI) statewide.Drunk driving incidents can be more prevalent during big holidays like the 4th of July and, therefore, the Houston Police Department (HPD) and Sheriff deputies will be especially vigilant.“All of our patrol deputies who are on duty throughout the holiday are in what we call DWI mode, so they’re gonna be paying particular close attention to drivers who might be impaired,” notes Jason Spencer, director of Public Affairs at the Harris County Sheriff’s Office (HCSO).Texas State troopers will also be watching the roadways.DPS Sergeant Richard Standifer explains that their department “takes up jurisdiction outside of the city limit, so those travelling to and from outside the city limit, we’ll be actively looking for those violating the law.”Law enforcement will be on the lookout for people who are, for example, driving significantly above or below the speed limit or who have trouble staying in one lane. To embed this piece of audio in your site, please use this code: X Share last_img read more