Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window) The World Bank Group’s Analysts on African economies have observed that African governments and private investors are yet to take advantage of or invest meaningfully in the provision of traditional and modern services. The Africa Pulse report indicates that Africa’s trade in services is still untapped.In its twice-yearly published report, Africa’s Pulse, which came out recently, the World Bank experts noted that globalization of services is a potentially important source of growth for developing countries, but Africans investors are yet to venture into the sector in order to realize its full potentials.World Bank Lead Economist in the African region, Ms. Punam Chuhan-Pole, said technology and outsourcing, which are considered as modern services, are enabling traditional services such as transportation and travel to overcome their old constraints such as physical and geographic proximity.The World Bank Lead Economist was providing analytical views on the report at a discussion on “Africa’s recent economic progress and future challenges in sustaining the continent’s economic growth in a changing global environment,” in Washington D.C. the event was webcast live at the World Bank Group’s Country office in Monrovia.It was also viewed in several other African countries including Nigeria, Ghana, Sierra Leone, Ethiopia, amongst others. Journalists from the continent had the opportunity to interact with the two discussants, Ms. Chuhan-Pole, and World Bank Chief Economist for the region, Franscisco Ferreira through questions and answers.The bank Lead Economist said that modern services, such as software development, call centers, and outsourced business processes, can be traded like value-added, manufactured products, enabling developing countries that focus on such services, innovation, and technology to leverage services as an important driver of growth.“Has Sub-Saharan Africa tapped this potential? At over $50 billion, the region’s services exports trail all other developing regions; however, it is expanding annually at about 12 percent, on average.Traditional services such as transportation and travel have declined from 73 percent of total services exports in 2005 to less than 64 percent in 2012, while modern services exports in the region have increased their share by nearly 10 percentage points from just over 26 percent of total services exports to about 36 percent over the same period,” the Africa’s Pulse reported records.It said in some countries such as Mauritius, Rwanda, and Tanzania, modern services exports recorded annual growth rates of over 10 percent between 2005 and 2012, with Rwanda starting from a low base of less than $40 million in services exported in 2005 to over twice that amount at almost $85 million by 2012.In both Mauritius and Rwanda, rapid expansion in modern services is a result of increased activity in tradable business and financial services. Over 60 percent of those employed in large companies in Mauritius work in the service sector, which offers more employment opportunities than either agriculture or manufacturing.“While Mauritius, Rwanda, and Tanzania have experienced a rapid increase in modern services, others like Kenya are also emerging as places where modern services are becoming drivers of growth and development. This is exciting news for other African countries looking to expand into the globalized services business.” says Punam Chuhan-Pole, who is also the author of Africa’s Pulse.In a special analysis of the region’s growth and trade patterns in Africa, the report says that export diversification remains a tough challenge for many African countries, especially amongst the oil producers.“Although Sub-Saharan Africa’s exports remain concentrated in a few strategic commodities, the region’s countries have made substantial progress in diversifying their trading partners,” says Francisco Ferreira, Chief Economist, World Bank Africa Region. “Over the last decade, exports to emerging markets such as the BRICs—Brazil, Russia, India, China—have grown robustly, primarily due to the prolonged boom in commodities demand. The BRICs received only 9 percent of Sub-Saharan Africa’s exports in 2000 but accounted for 34 percent of total exports a decade later.”Ferreira says total exports to the BRICs surpassed the region’s exports to the European Union (EU) market in 2010 and continue to grow. In 2012, the region’s exports to the BRICs reached $145 billion. China alone accounted for about a quarter (23.3 percent) of the region’s total merchandise exports. Of course, this shift in trading partners also underscores the region’s vulnerability to any slowdown in the BRICs, particularly China.
A cook appeared at the Georgetown Magistrates’ Courts before Chief Magistrate Ann McLennan, to answer to the charge of attempted murder.Alexis TurpinIt is alleged that Alexis Turpin of Campbell Street, Lodge, Georgetown, while being in the company of another, unlawfully and maliciously wounded the father of her child, Sherwin Johnson, with intent to commit murder on July 2.The prosecution is contending that on the day in question, the 25-year-old defendant went to the home of the Virtual Complainant and stabbed him with a claw bar.She was remanded to prison until July 28.
After spending over a month on remand at the Camp Street Prison for allegedly trafficking over one pound of marijuana, a 35-year-old Bourda Market vendor walked out of the courtroom a happy man as Attorney-at-Law George Thomas managed to secure bail on his behalf from Magistrate Fabayo Azore at the Georgetown Magistrates’ Courts.Ras ParisWhen he appeared in court, Thomas raised concerns of having his client spend a long time on remand while the prosecution reports no favourable progress at every succeeding hearing, thereby infringing on the fundamental right of his client, Ras Paris, to a fair and timely trial.Paris was arraigned before the Georgetown Magistrates’ Courts in early October, and was remanded to prison for allegedly trafficking 448 grams of cannabis on October 3, 2017 at North Ruimveldt, Georgetown.Paris is a resident of the North Ruimveldt community.While the Prosecutor made no mention of prior brushes with the law, Paris was in April of this year released on $200,000 bail for a charge of trafficking in two pounds of cannabis.As it relates to the second charge, the defendant was reportedly busted by the Police with a black bag in his hand containing the suspected narcotic on the day in question.Paris has since maintained his innocence, claiming the narcotic in discovered in the upper flat of a building occupied by two other persons present at the time of the search. The case will be called again on December 13.
A man who is no stranger to the courts was on Friday fined $50,000 after he admitted to stealing five cases of Guinness among other beverages totalling $102,000.Asif Mohammed, 51, recently served a 6-month sentence for stealing an air condition unit from the Georgetown Public Hospital Corporation (GPHC) and prior to that served an 18-month sentence for stealing tools.However, on this occasion, he admitted to stealing the items belonging to Orin Forde between June 14 and 18, 2018.The man reportedly entered Forde’s premises where the items were stored and made off with them.He was however, caught on surveillance cameras removing the items and as such, Police swooped down on him at his Garnette Street home where some of the stolen beverages were found. He was arrested, charged and fined or an alternative of a three-month imprisonment
Fort St. John’s Paladin Black Sox climbed back into the win column on Wednesday night. The Black Sox picked up a 9-3 over the Diamond Backs in Dawson Creek. Brett Loney recorded a complete game victory on the mound for Fort St. John. – Advertisement -The win moves the defending Wheatbelt league champs to 4-7 on the season.
The Taylor Bridge heading southbound will be temporarily shut down as two tractor trailers are stalled on the South Taylor Hill. The Department of Highways is currently on the scene to offer assistance to the two stalled vehicles, as well as to redirect traffic through the area.Fort St. John officials are warning motorist of the poor conditions and are saying to avoid driving in this area until the weather and road conditions have improved.RCMP in the area will advise as soon as conditions have improved and the southbound lanes of the Taylor Hill bridge have reopened. Advertisement Photo: Traffic is now moving on the South Taylor Hill – Kyle Thomas – Energeticcity.caUPDATE – Traffic is once again moving in the area. Motorists are advised to expect delays in the area.- Advertisement -Drivers heading southbound may be in traffic longer than expected today.
The Pasadena Maple Leafs and the California Golden Bears youth hockey clubs are both sponsoring 3-on-3 travel hockey leagues, which are forming. Registration at Pickwick Ice Center, 1001 Riverside Drive in Burbank, is scheduled from 6:30-8:30 p.m., Monday, March 19 and 26, and Wednesday, March 21 and 28. Sign-ups at the Pasadena Ice Skating Center, 310 E. Green St., will be during the March Madness Clinics slated from 6:30-8:30 p.m., Tuesdays, and from 5-7 p.m., Saturdays. Games will be played at Pickwick or Pasadena on Saturday or Sunday. For information call Victor Perez at (626) 716-0437 or visit www.pasadenahockey.net. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!
Now that CBS is back as a public company, it’s attracting the interest of value-oriented investors. Viacom recently split into two companies, creating CBS (symbol CBS) and a new Viacom (VIAB). The breakup reflected the frustration of Sumner Redstone, Viacom’s chairman and controlling holder, with Viacom’s stock in recent years. CBS trades near $27, with the more-liquid B shares bearing the symbol CBS. “It’s the cheapest large media stock, despite terrific assets, potential growth engines and a superior management team,” said Oscar Schafer, the head of O.S.S. Capital, a New York investment firm, at the Barron’s Roundtable this month. The Roundtable brings together a dozen leading investment professionals each year. Several Wall Street analysts, including Morgan Stanley’s Rich Bilotti, have recommended CBS. He values CBS at $33 a share. CBS has valuable assets, including the CBS television network, a group of 39 TV stations, CBS Radio, a large billboard business, Showtime and book publisher Simon & Schuster. Wall Street has deemed CBS a slow-growth, “oldmedia” firm, in contrast to the new Viacom, which has a group of cable networks including MTV and Nickelodeon, as well as the Paramount movie studio. CBS was an independent company until it merged with Viacom in 2000. The recent breakup undid that deal, which didn’t generate the synergistic benefits Mr. Redstone anticipated. Investors cheered last week when CBS decided to merge its UPN TV network with the WB network, owned by Time Warner (TWX) and Tribune (TRB). UPN has been losing money, and CBS aims to turn a profit with the new network, called CW. CBS may not be a highgrowth company, but it is paying a decent quarterly dividend of 16 cents a share, for a yield of more than 2.3%. The dividend is expected to rise in 2007. CBS trades for a moderate 15 times projected 2006 profits of $1.75 a share. The CBS brass, meanwhile, bridle at the no-growth label. CBS’s chief financial officer, Fred Reynolds, told investors last week that the company aims to produce annual percentage growth in per-share earnings in the “mid-to-high single digit range.” CBS isn’t without challenges. It gets about 70% of revenue from advertising, and so is vulnerable to a weakening economy and the migration of ads to the Internet. The radio business is struggling, and the fragmenting of the TV audience poses problems. On the plus side, CBS’s billboard unit is growing smartly, and the CBS network remains No. 1 in prime-time ratings. CBS is generating ample free cash flow, which should support a higher dividend and share repurchases in the coming years. AD Quality Auto 360p 720p 1080p Top articles1/5READ MORESanta Anita opens winter meet Saturday with loaded card160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!
1 Celtic and Roma target Adnan Januzaj is against the idea of Manchester United insisting on a buy-back clause should the Belgian leave Old Trafford.The 22-year-old, who spent last season on loan at relegated Sunderland, is not expected to feature in Jose Mourinho’s long-term plans and is likely to leave United this summer.Januzaj has been attracting a lot of interest from around Europe, including Paris Saint-Germain, Celtic and Roma.READ MORE: Roma plotting move for out-of-favour Man United starlet Adnan JanuzajHowever, it has been claimed that should United decide to sell the winger, they will insist on a buy-back option as part of any agreement.And, according to Het Nieuwsblad, Januzaj has vetoed that proposal revealing he is keen on having a clean break should he leave Old Trafford this summer.Loan spells at Sunderland and Borussia Dortmund haven’t gone to plan for the young Belgian, but it has been suggested that United do believe in the winger’s talents and are keen on the buy-back option. Adnan Januzaj
Story Links Then both MacGeoch and Wood fell in three sets in their second match. Grayson Broadus beat MacGeoch 3-6, 6-3, 6-2 and Nathan Griffin defeated Wood 5-7, 6-3, 6-4. Print Friendly Version MINNEAPOLIS, Minn. – The Drake University men’s tennis team had a pair of Bulldogs compete at the Gopher Invitational over the weekend. Results Junior Ben Wood posted 1-2 record, while fellow junior Calum MacGeoch went 0-3. Wood earned a convincing 6-3, 6-0 win over Penn’s Max Cancilla as MacGeoch fell to Kaden Funk, 7-6, 6-3. MacGeoch began his weekend with a first set tiebeaker win but ultimately fell to Notre Dame’s Guillermo Cabrera, 6-7, 6-4, 6-2. Notre Dame’s Johnathan Small topped Wood in a hard fought 6-4, 7-5 match.