Gold medallist Hamilton shoulders heavy burden for KC

first_imgKingston College’s Yashawn Hamilton was always confident he would be on the medal podium for the long jump Class Two event this year.Hamilton, a second year Class Two athlete, had to contest to 200 metres preliminaries at the same time he was competing in the long jump final. He will also be participate in the 100 metres.However, the youngster, who won the event with a leap of 7.01 metres ahead of Excelsior High’s Joel Morgan and Calabar High’s Kristoffe Clifford, said he has to be mentally strong to perform and deliver the points he is expected to contribute to his school, who are depending heavily on his points to reclaim the Champs trophy.”I wasn’t surprised I won. I know I was a finalist last year so I just came out, did my best and ensure that I was on the medal podium,” he said. “But I have to be mentally strong because I have a lot of events, so I didn’t get to do the rest of my jumps. I don’t know what would happen after those jumps because I had the 200 just after the third round (long jump).”I have the 100 metres too, so I carry a lot of points for my team and I have to ensure that we win the Champs. I was expected to come third (long jump), but I went out and did my best and got gold. I was looking at 7.3 the least, so the jump wasn’t my best, but I listened to my coach and did my best,” he added.last_img read more

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: 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