Our 6 ‘Best Buys Now’ Shares Investors dumped Pearson (LSE: PSON) shares Thursday morning, after the company issued an update flagging weak 2019 profits. The education firm expects adjusted operating profit of around £590m, at the lower end of previous guidance.The price slumped almost 14% at one point during the morning, before settling at a loss of around 10%.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Pearson has released a string of profit warnings concerning US higher education courseware, and we saw further weakness there. That segment, accounting for 24% of revenue, fell by 12%. Students, not surprisingly, are increasingly favouring eBooks, and print sales are declining steadily.BetterThe rest of the company performed better, Pearson said, recording an aggregate 4% rise. The firm’s Online Program Management and Professional Certification materials both grew by 10%. And the Pearson Test of English Academic gained 17%.Analysts are expecting an EPS fall of nearly 20% for 2019, and the firm has confirmed lower profits are expected in 2020 too. Pearson expects adjusted operating profit to drop to between £500m and £580m.In another shock, Pearson said chief financial office Coram Williams has resigned, and deputy CFO Sally Johnson will take over the role. This is the second high-profile departure in recent months, after chief executive John Fallon announced his retirement in December. He’ll step down some time in 2020.In this update, Fallon described Pearson as “now a simpler, more efficient company, with strong financial foundations.” But I see the company as something of an enigma.TrendThe trend away from printed books and towards online educational material is clearly well established, and Pearson is chasing it. But it’s not yet seeing enough growth in that sector to compensate for the fall in print. I also don’t see that Pearson has a significant competitive advantage as it moves away from its previous core strength.The financial situation does seems solid enough, though. Pearson is preparing to sell its remaining 25% of Penguin Random House, and that’s expected to complete sometime in the first half. The proceeds from that, coupled with annualised savings of £335m by the end of 2019, are enabling a share buyback.The company has decided to return £350m to shareholders via that route, which implies confidence in the future. It also suggests Pearson sees its shares as undervalued at the moment, but I’m not sure I agree.Based on further forecast EPS falls, its shares are on a prospective P/E of 10.4 for 2020. With the uncertainties surrounding the company at the moment, I think that’s probably about right. Certainly not a screaming buy, in my view.BuybacksI’m unconvinced when companies in difficulty engage in share buybacks to return surplus capital. In this case, I’d rather Pearson refrain from such speculation and just pay out the excess cash as dividends. Leave investors, who are best placed to judge, to decide if the shares are cheap.I do think Pearson could once again become a top long-term income investment. But I expect a few more tough years before we see the shape of the revamped company, and further share price weakness.Until I see some clarity, and can gain some confidence in Pearson’s strategy, I’m keeping away. Here’s one falling FTSE 100 stock I’m avoiding in 2020 Enter Your Email Address Image source: Getty Images Alan Oscroft has no position in any of the shares mentioned. The Motley Fool UK has recommended Pearson. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. “This Stock Could Be Like Buying Amazon in 1997” I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Simply click below to discover how you can take advantage of this. 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latest #1 Pasadena’s “Bad Weather Shelter” Ramps Up Now to Prevent Homeless Deaths in Coming El Nino By THOMAS DANG, Guest Correspondent Published on Thursday, August 20, 2015 | 4:22 am Business News With California in dire need of rainfall, the upcoming El Nino may promise a much wetter winter than usual. The natural phenomenon typically brings twenty-five inches of rain to Downtown Los Angeles each time it comes around. However, meteorologists predict that this winter’s El Nino could be the strongest in over fifty years.Pasadena’s “Bad Weather Shelter,” operated by the nonprofit organization, “Friends In Deed,” is aiming to increase funding in preparation for the imminent El Nino.The idea of the “Bad Weather Shelter” was spurred by multiple deaths of the homeless caused by hypothermia in Los Angeles County.Tracing its roots back to 1986, “The Bad Weather Shelter opened in response to the emergency needs of homeless persons in Pasadena. [The Bad Weather Shelter serves] individuals who for a variety of reasons lack adequate refuge during the cold and wet winter months.”The goal of the shelter is to prevent homeless persons from dying of hypothermia during the coldest part of the year. As such, the Bad Weather Shelter opens the day after Thanksgiving to mid-March whenever the weather forecasts anticipate rain or temperatures below forty degrees.In 2012, the Bad Weather Shelter lost an annual $60,000 contribution by the City of Pasadena due to budget cuts.Fortunately, the then local high school student Rebecca Huang founded the “Friends of the Bad Weather Shelter,” campaign which gathered the necessary donations from private parties such as local businesses and residents to keep the shelter running. The campaign raised over $50,000 in the last three years to enable the shelter to continue its operations.Rebecca was prompted to help the shelter when she found out that nine homeless people died of hypothermia in Los Angeles County, including one person in Pasadena, during the winter of 1986-1987.“When I found out about the shelter from my father [Housing & Career Services Director for the City of Pasadena William Huang] and about its possible closure, I had to at least try to keep the shelter open. If the shelter were to close, these same tragedies could very well occur again, so to me, it is not an option to let a shelter that plays such a vital role close. We, as a community, need to find the funds to keep the shelter operating,” Rebecca states.The high tolerance shelter is weather-activated, basing its operation upon the likelihood of low temperatures or rain. Guests are welcomed for a hot meal and a warm place to sleep if the temperature drops below forty degrees or if there is a forty percent chance of rain.The shelter’s staff is comprised of volunteers and dedicated members, with some having professional experience with homeless service organizations such as Union Station, Lake Avenue Foundation, and Passageways. The shelter is even able to provide “a nurse from Passageways/Pacific Clinics, who provides flu shots, health evaluations and palliative care.”Although the City of Pasadena, U.S. Department of Housing and Urban Development and Los Angeles County Mayor Michael Mike Antonovich have made contributions in the past, the shelter is currently asking for more funds to best prepare for the powerful El Nino.This past July, heavy rain caused a bridge on the Interstate 10 to collapse, foreboding the problems that could very well be underway.Already, a record rainfall of 0.36 inch for the month of July in Downtown Los Angeles has broken the previous 0.25 inch record way back in July 1886.Rebecca concludes, “With a potential El Nino, the shelter will very likely need to be opened significantly more nights than the previous couple of winters. I hope that enough funds can be raised so that the shelter is able to be open every night that it needs to be. We definitely need the entire community, including businesses, to step up and help prepare for a potentially very harsh winter.”Donations for the Bad Weather Shelter can me made directly to Friends in Deed or online at http://ecpac.net/FriendsOfBWS.html. 2 recommended0 commentsShareShareTweetSharePin it faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Community News Top of the News Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Your email address will not be published. Required fields are marked * Subscribe Herbeauty7 Reasons Why The Lost Kilos Are Regained AgainHerbeautyHerbeautyHerbeauty10 Ways To Get Into Shape You’ve Never Tried BeforeHerbeautyHerbeautyHerbeautyIs It Bad To Give Your Boyfriend An Ultimatum?HerbeautyHerbeautyHerbeauty6 Trends To Look Like A Bombshell And 6 To Forget AboutHerbeautyHerbeautyHerbeauty8 Easy Exotic Meals Anyone Can MakeHerbeautyHerbeautyHerbeautyBohemian Summer: How To Wear The Boho Trend RightHerbeautyHerbeauty Make a comment Community News Thomas Dang was first introduced to journalism when he enrolled in San Marino High School’s newspaper class, Titan Shield. He wrote as a Staff Writer in his Freshman year and was later promoted to News Editor in his Junior year. Dang became the Editor-in-Chief by his Senior year. He heard about the Bad Weather Shelter when he met Director of Housing for the City of Pasadena William Huang. Dang enjoys lifting weights in his spare time and is an avid car enthusiast. His favorite historical figure is Benjamin Franklin but has lately become hugely inspired by Elon Musk. He will be attending PCC this fall. More Cool Stuff First Heatwave Expected Next Week EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Name (required) Mail (required) (not be published) Website Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena
The two LNG dual-fuel VLCCs are scheduled to be delivered to AET starting from Q1 2022 AET will charter two LNG dual-fuel VLCCs. (Credit: AET Tanker Holdings Sdn. Bhd.) French oil major Total’s wholly-owned subsidiary Chartering and Shipping Services has signed an agreement to charter out two LNG-powered very large crude carriers (VLCCs) to Malaysia’s energy logistics provider AET.The two LNG dual-fuel VLCCs, which are scheduled to be delivered to AET from Q1 2022, will emit around 20% less CO2 greenhouse gases compared to conventional vessels, as well as 85% less NOx and 99% less SOx.Total Shipping & Trading senior vice-president Luc Gillet said: “We’ve partnered with AET for many years and today’s signing is the next logical step in our continuing relationship.”Total Marine Fuels Global Solutions to supply LNG to new vesselsTotal Marine Fuels Global Solutions, the Total’s business unit in charge of bunkering activities, will supply LNG to the two vessels, which will comply with IMO Tier III levels.AET president and CEO Rajalingam Subramaniam said: “AET is investing to build efficiency in our partners’ energy logistics activities and this includes assisting them to meet their environmental targets. Today’s collaboration is a further example of our commitment towards Environmental, Social and Corporate Governance as well as the UN Sustainable Development Goals.“We were among the industry leaders in building and operating LNG-powered Aframax vessels and dynamic positioning shuttle tankers and these two new ships will be our first LNG dual-fuel VLCCs.AET, within its global fleet, currently operates two LNG dual-fuel dynamic positioning shuttle tankers and LNG dual-fuel Aframax vessels.In February 2020, AET signed long-term charter contracts with Brazil’s Petrobras for three suezmax-class dynamic positioning shuttle tankers.AET will own and operate the shuttle tankers in Brazilian international waters.
Share Jason Ader – No Boogeyman… Activism will play a vital part in reshaping gambling August 20, 2020 StumbleUpon Share Related Articles Submit Belgian Pro League selects bwin as its new betting partner August 4, 2020 GVC absorbs retail shocks as business recalibrates for critical H2 trading August 13, 2020 Professional Darts Corporation (PDC) Chairman Barry Hearn has confirmed that bwin will be sponsors of the Grand Slam of Darts in Wolverhampton for the next two years.The Grand Slam of Darts, a cross-code event for both PDC and British Darts Organisation (BDO) players, was introduced in 2007 and sees 32 players competing across nine days, with a round-robin group phase followed by a knockout stage.Won for the past two years at the Wolverhampton Civic Hall by Michael van Gerwen, the tournament has also seen Phil Taylor, Scott Waites and Raymond van Barneveld lift the trophy over the past decade.Hearn commented: “It’s great to welcome bwin as the new title sponsor for the bwin Grand Slam of Darts. Their previous sponsorship of the World Cup of Darts came at a time of huge growth for that event in Germany in 2014 and 2015.“Their backing of the Grand Slam of Darts will not only showcase the brand across nine days of fantastic darts in Wolverhampton, but provides worldwide exposure through Sky Sports and our international broadcast partners.”Adam Lewis, CMO of bwin, added: “We’re delighted to become the title sponsor of the bwin Grand Slam of Darts. It is a huge tournament that continues to grow in popularity every year, with an ever-increasing international reach. Darts is enjoying a huge boom and it’s great for us to link up once again with the PDC to sponsor this prestigious tournament.”Prize money for the bwin Grand Slam of Darts 2017, which will be broadcast live on Sky Sports from 11-19 November, has increased to £450,000, with the first prize rising to £110,000.
St. Louis Rams defensive end Michael Sam (96) looks up at the scoreboard from the sidelines during the first half of an NFL preseason football game against the Miami Dolphins, Thursday, Aug. 28, 2014 in Miami Gardens, Fla. The Dolphins defeated the Rams 14-13. (AP Photo/Lynne Sladky)MIAMI GARDENS, Fla. (AP) — For Michael Sam, it’s time for another waiting game, another chapter of waiting for the phone to ring and seeing what someone on the other end says about his future.And as was the case on NFL draft weekend, Sam is confident things will work out as he hopes.Sam’s preseason came to an end Thursday night, with a team-best six tackles in the St. Louis Rams’ 14-13 loss to the Miami Dolphins. The Rams, like all NFL teams, have to cut down their rosters to 53 players by Saturday afternoon — and Sam, the league’s first openly gay player, seems squarely on the bubble.“I’m very confident,” Sam said. “I’m going to sleep really well tonight and I’m very confident I’m going to be on a team, the Rams or any other team in the NFL.”He called Thursday his final exam, and afterward gave himself a B-plus grade.Sometime Saturday, he’ll find out if that’s was enough to make the Rams’ roster.“I think he can play in this league,” Rams coach Jeff Fisher said, “as can some of the other guys on this team who had good preseasons.”Austin Davis threw for 162 yards, including an 11-yard touchdown pass to Austin Pettis, and Greg Zuerlein made a pair of long field goals for the Rams.Davis came into training camp as an afterthought, buried at the bottom of the depth chart. He’s now the backup behind Shaun Hill, who became the starter when Sam Bradford was lost for the season with a torn ligament in his left knee.Given the way he’s played in the preseason, Davis might be ready. He completed 12 of 19 passes, albeit largely against second- and third-stringers, and finished the preseason 39 of 63 for 534 yards with four touchdowns and one interception.“I thought Austin was a little excited early,” Fisher said. “He sailed some balls but settled down and made some plays.”Sam, a seventh-round draft pick, didn’t start but got playing time on the first Miami drive of the night. He made two tackles in a span of three plays to help force the Dolphins into a punt.Afterward, as the Rams’ locker room emptied out, Sam said his work merits him a shot.That is, a victory shot.If he makes the team, Sam plans to celebrate with a drink and a cigar.“I did everything I could,” said Sam, who will go see his former college teammates at Missouri open their season on Saturday while the Rams decide his fate. “Now it’s out of my hands. I’m at the NFL mercy, the coaches’ mercy. So we wait.”Both teams held out plenty of regulars, standard for teams in the final preseason game. Rosters will be cut to 53 by Saturday afternoon, meaning about 700 players in uniform around the league on Thursday night will be either headed to practice squads or looking for new teams shortly.“Jobs are open,” Dolphins coach Joe Philbin said. “That’s why we’re here.”Marcus Thigpen is one of those whose immediate future is a great unknown. He showed why he shouldn’t make the Dolphins in the first half, then why he should in the second half.Trying to make the team as a receiver and returner, Thigpen muffed a punt badly in the first half, then had Thigpen had a 32-yard punt return midway through the fourth quarter to set up Miami’s go-ahead score.“The first half, I felt like I was kind of out of it,” Thigpen said. “I didn’t have a rhythm going and I knew I had to pick it up. The second half, I came out with a different attitude and knew I had to make some plays.”Matt Hazel caught a 22-yard touchdown pass from Seth Lobato with 6:15 left for the Dolphins, who rallied with two TDs in the final quarter. Daniel Thomas, making his preseason debut and playing with the belief his spot on the roster wasn’t secure, had a 5-yard touchdown run for Miami.NOTES: Trey Watts had 51 rushing yards on 13 attempts for the Rams. … Dolphins K Caleb Sturgis, who has been hurt for much of the preseason, warmed up well, Philbin said. Sturgis had both Miami extra-points.
Loic Remy starts for Chelsea in the game against Newcastle at St James’ Park.Remy, who spent the 2013-14 season on loan with the Magpies, gets the nod over Radamel Falcao to replace the suspended Diego Costa up front for the Blues.Falcao is on the substitutes’ bench along with John Terry, who is again left out of the starting-line up.Newcastle, meanwhile, welcome back striker Aleksandar Mitrovic following a three-match suspension.Newcastle: Krul; Janmaat, Mbemba, Coloccini, Mbabu; Sissoko, Anita, Colback, Wijnaldum; Perez, Mitrović.Subs: Elliot, Williamson, Lascelles, Obertan, Thauvin, de Jong, Toney.Chelsea: Begovic; Ivanovic, Zouma, Cahill, Azpilicueta; Matic, Fabregas; Pedro, Oscar, Hazard; Remy.Subs: Blackman, Terry, Mikel, Ramires, Willian, Kenedy, Falcao.Follow West London Sport on TwitterFind us on Facebook
4 July 2012Only one South African athlete will travel to the London Olympic Games as a medal winner from four years ago in Beijing. That man is long jumper Khotso Mokoena.He booked his spot at the London Olympics by meeting the stringent South African Sports Confederation and Olympic Committee standard set for qualification of 8.20 metres, a distance that Mokoena had to leap at home and in international competition.He made a jump of 8.29 metres in April in Pretoria, but it was only on 31 May that he managed a distance of 8.20 metres in Rome to secure his place in the South African Olympic team.Nonetheless, Mokoena’s 8.29m in Pretoria is the sixth best distance in the world this year and, again, only six athletes have managed a distance of 8.20m at least twice.A similar sort of distance could well put the South African star in a medal winning position in London. In Beijing, he won silver with a leap of 8.24m, while Irving Saladino claimed gold with a best of 8.34m.A high jumperThe strange thing, considering that Mokoena is in the running to add another Olympic medal to his silver medal of four years ago, is that he began his international career not as a long jumper, but as a high jumper!In fact, in 2001, at the World Youth Championships in Debrecen, Hungary, he finished fifth in the high jump with a height of 2.10 metres.While at Nigel High School, a teacher, Elna de Beer, discovered Mokoena’s talent for long jump and the following year he began his long international career in the event.In 2002, at the World Junior Championships in Kingston, Jamaica, he finished twelfth with a best of 7.08m in the final after leaping 7.47m in qualifying.Later that year, he took up the triple jump and after only five days of training recorded a national youth and junior record of 16.03 metres.His achievements in 2003 included bronze medals in the long jump at the Afro-Asian and All Africa Games, as well as a second in the triple jump at the All Africa Games and third in the same event at the Afro-Asian Games.World junior championThe following year, at Grosseto in Italy, he won the triple jump at the World Junior Championships and placed second in the long jump. His winning triple jump was 16.77m, while his long jump measured 8.09 metres, good for a national junior record, and only two centimetres behind the winning distance.He contested the triple jump at the 2004 Athens Olympics, but, not yet an adult, he failed to make it to the final.In April of 2005, he set a national record in the triple jump in Durban that still stands to this day of 17.25 metres. In August, he topped the qualifying distances in the long jump at the World Championships in Helsinki, Finland, but failed to win a medal in the finals.It was a good year, however, with Mokoena bettering the eight-metre mark nine times, including a leap of 8.37 metres at the national university championships.2006 proved to be a successful year for Mokoena. He placed fifth in the long jump at the World Indoor Championships in Moscow. In Manchester, at the Commonwealth Games, he ended fourth in the long jump and won a silver medal in the triple jump with a distance of 16.95.Two silver medalsAt the African Championships in Mauritius, Mokoena picked up two silver medals after leaping 8.45m in the long jump and 16.67 in the triple jump.He also set a South African record of 8.39 metres in the long jump while competing in Finland.In 2007, after changing his technique, Mokoena decided to focus on the long jump and proved to be a consistent performer on the world stage in the biggest of competitions.His results included a third place at the All Africa Games in Algiers, fifth place in the World Championships in Osaka, where he had topped his group in qualifying, and third in the World Athletics Finals in Stuttgart.World indoor championIn March 2008, he captured gold at the IAAF World Indoor Championships in Valencia, Spain. After topping qualifying, Mokoena recorded a best distance of 8.08m, and nothing less than 8.01m, to claim the title.In August, he finished second at the Olympic Games.In July 2009, Mokoena set an African record with a career best leap of 8.50 metres in Madrid. In Berlin, in August, he picked up silver at the World Athletics Championships with a leap of 8.47 metres. Then, in September, he finished third in the World Athletics Finals in Thessaloniki, Greece.He enjoyed another good result at the World Indoor Championships in 2010, when he won silver with another leap of 8.08m. He was crowned African champion in Nairobi, with a best jump of 8.23 metres.He surprisingly missed out on qualifying for the final of the 2011 World Athletics Championships, although he would have done so with just two centimetres added to his distance.At 28 years of age, Mokoena is, however, a proven medal challenger on the athletics world’s biggest stages, and it would not be surprising to see him in the running for another Olympic medal in London.Would you like to use this article in your publication or on your website? See: Using SAinfo material
In the State of the Nation Address, President Jacob Zuma called for the eradication of the ‘demon of racism’, he reminded South Africans that economic growth was the fastest way to reduce inequality and lift fellow South Africans out of poverty. The Junior Guard of Honour at Parliament in Cape Town ahead of the State of the Nation Address. (Image: GCIS) State of the Nation Address by Jacob G Zuma, President of the Republic of South Africa on the occasion of the Joint Sitting of ParliamentThe Speaker of the National Assembly,The Chairperson of the National Council of Provinces;Deputy Speaker of the National Assembly and Deputy Chairperson of the NCOP,Deputy President Cyril Ramaphosa,Former President Thabo Mbeki,Chief Justice Mogoeng Mogoeng and all esteemed members of the judiciary,The President of the Pan African Parliament, Mr Roger Nkodo Dang,Ministers and Deputy Ministers,Premiers and Speakers of Provincial Legislatures,Chairperson of SALGA and all Executive Mayors present,The Heads of Chapter 9 Institutions,Chairperson of the National House of Traditional Leaders,Leaders of faith based organisations,The former Speaker of the National Assembly, Dr Frene Ginwala,Invited guests,Veterans of the struggle for liberation,Members of the diplomatic corps,Fellow South Africans,Good evening, sanibonani, molweni, dumelang, goeie naand, lotshani, riperile, ndimadekwana,Thank you for the opportunity to address Parliament and the nation.Today marks the 26th anniversary of the release of President Nelson Mandela from prison, which was one of the most remarkable episodes in the history of our country.It is also the 50th anniversary of the declaration by the National Party regime that District Six would be a whites only area, leading to the forced removals of more than 60 000 residents.The year 2016 also marks the 20th anniversary of the signing into law by Madiba, of the Constitution of the Republic. The signing took place in Sharpeville on 10 December 1996.We are proud of our democracy and what we have achieved in a short space of time. Our democracy is functional, solid and stable.Compatriots,The Constitution, which has its foundation in the Freedom Charter, proclaims that South Africa belongs to all who live in it. A lot has been done to promote inclusion and a non-racial society.However, the journey to a non-racial society has not yet been completed.The nation was shaken last month when racism reared its ugly head on social and electronic media, causing untold pain and anger.There is a need to confront the demon of racism. Human Rights Day, March 21, will be commemorated as the national day against racism this year. It will be used to lay the foundation for a long-term programme of building a non-racial society.Compatriots, I would like to remind you of a few other important anniversaries.The year 2016 marks 60 years since the women’s march to the Union Buildings to demand an end to the pass laws. We are happy to have in our midst Ms Sophie de Bruyn, who was among the heroic leaders of that historic march.We also acknowledge the former President of the Black Sash, Ms Mary Burton. We acknowledge the organisation’s track record in fighting for human rights, justice and equality.This year also marks 40 years since the landmark June 16 student uprising in Soweto.We welcome the photographer who shot the famous photograph of Hector Peterson carried by Mbuyisa Makhubu with his sister Antoinette, Mr Sam Nzima.We also salute the class of 1976 for their bravery in standing up against the brutal apartheid regime. We acknowledge one of the activists of that era, the Deputy Secretary of Parliament, Ms Baby Tyawa, who is in our midst.This year we also mark 30 years since the ambush and brutal killing of the Gugulethu Seven by the apartheid police in March 1986.The University of Fort Hare celebrates its centenary, which is a critical milestone in the liberation history of not only our country but the continent. The national celebrations will take place on the 20th of May.Let me recognise uMntwana wakwaPhindangene, the leader of the IFP who is a former student of the university.The year 2016 also marks the centenary of the battle of Deville Woods in France, which took place during the First World War.Scores of Black soldiers fought in the war but were treated badly due to the colour of their skin.A memorial that will restore their dignity and humanity is scheduled to be unveiled in July this year in France.Compatriots, allow me as well to recognise three special guests who are also with us today,the chairperson of the National Church Leaders Forum and Archbishop of Cape Town, Archbishop Thabo Makgoba. Archbishop Daniel Matebesi, the President of the National Interfaith Council of South Africa and Bishop Zipho Siwa, the Presiding Bishop of the Methodist Church of Southern Africa and the President of the South African Council of Churches.Madam Speaker and Madam Chairperson,A resilient and fast growing economy is at the heart of our radical economic transformation agenda and our National Development Plan.When the economy grows fast it delivers jobs. Workers earn wages and businesses make profits.The tax base expands and allows government to increase the social wage and provide education, health, social grants, housing and free basic services – faster and in a more sustainable manner.Our economy has been facing difficulties since the financial crisis in 2008. We embarked on an aggressive infrastructure development programme to stimulate growth.Our reality right now is that global growth still remains muted. Financial markets have become volatile. Currencies of emerging markets have become weak and they fluctuate widely.The prices of gold, platinum, coal and other minerals that we sell to the rest of the world have dropped significantly and continue to be low.The economies of two of our partners in BRICS: Brazil and Russia – are expected to contract this year. The third, China, will not register the kind of robust growth that it is known for.Because our economy is relatively small and open, it is affected by all of these developments.Our economy is also affected by domestic factors such as the electricity constraints and industrial relations which are sometimes unstable.The IMF and the World Bank predict that the South African economy will grow by less than one per cent this year. The lower economic growth outcomes and outlook suggest that revenue collection will be lower than previously expected.Importantly, our country seems to be at risk of losing its investment grade status from ratings agencies. If that happens, it will become more expensive for us to borrow money from abroad to finance our programmes of building a better life for all especially the poor.The situation requires an effective turnaround plan from us.It is about doing things differently and also acting on what may not have been acted upon quickly before.I will share a few points that we believe would make a difference.First, our country remains an attractive investment destination. It may face challenges, but its positive attributes far outweigh those challenges.We must continue to market the country as a preferred destination for investments. This requires a common narrative from all of us as business, labour and government.If there are any disagreements or problems between us, we should solve them before they escalate. This is necessary for the common good of our country.We have had fruitful meetings with business, including the high level meeting with CEOs on Tuesday this week.We have heard the suggestions from business community on how we can turn the situation around and put the economy back on a growth path.We have heard the points about the need to create the correct investment support infrastructure.Government is developing a One Stop Shop/Invest SA initiative to signal that South Africa is truly open for business. We will fast-track the implementation of this service, in partnership with the private sector.Such an initiative requires that government removes the red tape and reviews any legislative and regulatory blockages.We have established an Inter-Ministerial Committee on Investment Promotion which will ensure the success of investment promotion initiatives.Compatriots, we have heard the concerns raised about the performance of state owned enterprises and companies.Many of our SOCs are performing well.Sanral has built some of the best roads in Gauteng and in many parts of the country. These make us the envy of many parts around the globe.The Trans Caledon Tunnel Authority has constructed dams of varied capacities, thus making it possible for our people to have access to safe drinking water.Transnet has built rail infrastructure which has enabled our country’s mines to move massive bulk of commodities through our ports to markets around the globe.Eskom, in spite of the challenges, still manages to keep the economy going, against all odds.Our development finance institutions such as the Industrial Development Corporation (IDC) or Development Bank of Southern Africa and others have provided finance for infrastructure, various industries and agricultural businesses without fail, even in the aftermath of the global financial crisis.For the state owned companies to contribute to the successful implementation of the National Development Plan, they must be financially sound.They must be properly governed and managed. We will ensure the implementation of the recommendations of the Presidential Review Commission on State Owned Enterprises, which outlines how the institutions should be managed.The Deputy President chairs the Inter-Ministerial Committee which is tasked with ensuring the implementation of these recommendations.We have to streamline and sharpen the mandates of the companies and ensure that where there are overlaps in the mandates, there is immediate rationalization.Those companies that are no longer relevant to our development agenda will be phased out.Government departments to which they report, will set the agenda and identify key projects for the State owned companies to implement, over a defined period. Proper monitoring and evaluation will be done.These interventions are essential for growth and also for the reduction of national debt levels.Compatriots,We must take advantage of the exchange rate as well as the recent changes of visa regulations, to boost inbound tourism.SA Tourism will invest one hundred million rand a year to promote domestic tourism, encouraging South Africans to tour their country.We have heard concerns from companies about delays in obtaining visas for skilled personnel from abroad. While we prefer that employers prioritise local workers, our migration policy must also make it possible to import scarce skills.The draft migration policy will be presented to Cabinet during the course of 2016.We have heard the appeals for policy certainty in the mining sector, especially with regards to the Mineral and Petroleum Resources Development Bill.The Bill was referred back to Parliament last year. We await Parliament to conclude the processing, which we trust will be done expeditiously.CompatriotsWe need to empower SMMEs to accelerate their growth. Access to high-quality, innovative business support can dramatically improve the success rate of new ventures.The department of small business development was established to provide such targeted support to small business.Economic transformation and black empowerment remain a key part of all economic programmes of government. One of our new interventions is the Black Industrialists Scheme which has been launched to promote the participation of black entrepreneurs in manufacturing.We urge big business to partner the new manufacturers including businesses owned by women and the youth, as part of broadening the ownership and control of the economy.CompatriotsWe are proud of our Top 10 ranking in the World Economic Forum competitiveness report with respect to financial services.Maintaining and indeed improving our ranking is important to our competitiveness as a country.It is also fundamental to our ambition to become a financial centre for Africa.The banks, through the Banking Association of South Africa, are to launch a project aimed at establishing a centre of excellence for financial services and leadership training.This will ensure that as a country we can attract, nurture, develop and retain the best talent in financial services in our country and across our continent.They will work with the Minister of Finance and the National Treasury to get this done. We believe that this will over time ensure that we can expand the pool of financial skills and broaden the job opportunities for many young people.This strategic project from the banking sector is a positive and encouraging outcome of our engagement with business this week.Together we move South Africa Forward!Compatriots,We have made an undertaking to spend public funds wisely and to cut wasteful expenditure, but without compromising on the core business of government and the provision of services to our people.In 2013, the Minister of Finance announced a number of cost containment measures.Excessive and wasteful expenditure has been reduced, but there is still more to be done to cut wastage.I would like to announce some measures this evening.Overseas trips will be curtailed and those requesting permission will have to motivate strongly and prove the benefit to the country.The sizes of delegations will be greatly reduced and standardised.Further restrictions on conferences, catering, entertainment and social functions will be instituted.The budget vote dinners for stakeholders hosted by government departments in Parliament, after the delivery of budget speeches will no longer take place.The Minister of Finance will announce more measures and further details in the budget vote speech on the 24th of February.The executive management and boards of public agencies and state owned companies must undertake similar measures.I also invite Premiers of all nine provinces as well as mayors to join us as we begin eliminating wasteful expenditure within government.I trust that Parliament and the Judiciary will also be persuaded to consider the implementation of similar measures.CompatriotsA big expenditure item, that we would like to persuade Parliament to consider, is the maintenance of two capitals, Pretoria as the administrative one and Cape Town as the legislative capital.We believe that the matter requires the attention of Parliament soon.CompatriotsWe all have a lot to do to turn the economy around and to cut wastage. We will go through a difficult period for a while, but when the economy recovers, we will be proud of ourselves for having done the right thing.Compatriots,I would now like to report back on the undertakings made last year.During the State of the Nation Address in February 2015I announced the Nine Point Plan to respond to sluggish growth.The nine point plan consists of:a.Revitalisation of the agriculture and agro-processing value-chain;b.Advancing beneficiation adding value to our mineral wealth;c.More effective implementation of a higher impact Industrial Policy Action Plan;d.Unlocking the potential of SMME, co-operativess, township and rural enterprises;e.Resolving the energy challenge;f.Stabilising the labour market;g.Scaling-up private-sector investment;h.Growing the Ocean Economy;i.Cross-cutting Areas to Reform, Boost and Diversify the Economy;i.Science, technology and innovationii.Water and sanitationiii.Transport infrastructureiv.Broadband rolloutv.State owned companies.We have made significant progress in the implementation of the plan.Progress has been made to stabilise the electricity supply. There has been no load shedding since August last year which has brought relief for both households and industry alike.Government has invested eighty three billion rand (R83 billion) in Eskom which has enabled the utility to continue investing in Medupi and Kusile, while continuing with a diligent maintenance programme.Additional units from Ingula power station will be connected in 2017, even though some of them will begin synchronisation this year.The multiple bid windows of the Renewable Independent Power Producer Programme have attracted an investment of one hundred and ninety four billion rand.This initiative is a concrete example of how government can partner with the private sector to provide practical solutions to an immediate challenge that faces our country.In 2016, government will select the preferred bidders for the coal independent power producer.Request for Proposals will also be issued for the first windows of gas to power bids.The nuclear energy expansion programme remains part of the future energy mix.Our plan is to introduce nine thousand six hundred megawatts of nuclear energy in the next decade, in addition to running Koeberg Nuclear Power Plant.We will test the market to ascertain the true cost of building modern nuclear plants.Let me emphasise that we will only procure nuclear on a scale and pace that our country can afford.Compatriots,Our government through the Department of Trade and Industry introduced a number of incentives in the past few years to boost investments in the manufacturing sectors especially textiles, leather and the automotive sectors.Progress has been made in these sectors.The incentives for the automotive sector have attracted investments of over twenty five billion rand over the last five years. We welcome key investments from Mercedes, General Motors, Ford, Beijing Auto Works, the Metair group, BMW, Goodyear and VW.The clothing and textile sector has also been successfully stabilised after a difficult few years.Multinational companies such as Nestle, Unilever Samsung and Hisense have also affirmed South Africa as a regional manufacturing hub.They have retained and expanded their investments in new plants.Indeed the progress made in manufacturing has certainly demonstrated that the incentive programmes are effective and attractive to investors.Compatriots,I announced programmes for the revitalisation of agriculture last year. We introduced the Agri-Parks programme, aimed at increasing the participation of small holder farmers in agricultural activities.Construction has begun in at least five agriparks, which are: Westrand in Gauteng, Springbokpan in North West, Witzenberg in Western Cape, Ncora in the Eastern Cape and Enkangala in Mpumalanga.The agricultural programmes must empower women farmers as well. Allow me to introduce the winner of the Female Entrepreneur of the Year 2015, Ms Julia Shungube, from Nkomazi municipality in Mpumalanga.Honourable Speaker and Chairperson,Land reform remains an important factor as we pursue transformation.I spoke about the fifty/fifty policy framework last year, which proposes relative rights for people who live and work on farms.Twenty seven proposals have been received from commercial farmers and four are being implemented in the Eastern Cape and the Free State.I also announced the Regulation of Land Holdings Bill which would place a ceiling on land ownership at a maximum of 12 000 hectares and would prohibit foreign nationals from owning land. They would be eligible for long term leases. The draft Bill will be presented to Cabinet in the first semester of the year.We also announced the re-opening of land claims for people who had missed the 1998 deadline. The number of new land claims that have been lodged stood at close to one hundred and twenty thousand as of December last year.Compatriots,As we are aware, five provinces have been seriously affected by drought, namely North-West, KwaZulu-Natal, Free State, Limpopo and Mpumalanga.Government provides relief to affected communities. Isomiso sixakile impela ezifundazweni eziningi. Imfuyo iyafa kanti nezolimo zisele emuva. Isikhathi esinzima lesi.Uhulumeni uzoqhubeka nokuxhasa abalimi kanye nokusiza imiphakathi ngezimoto ezithwala zamanzi.Let me take this opportunity to commend the civil society initiative, Operation Hydrate and others for the provision of water relief to many communities in distress.The building of water infrastructure remains critical so that we can expand access to our people and industry.The first phase of the Mokolo and Crocodile Water Augmentation project in Lephalale area in Limpopo is fully operational. It will provide 30 million cubic meters of water per annum.The raising of the Clan William Dam wall in the Western Cape entails raising the existing dam level by 13 metres to provide additional water supply.To curb water wastage, the Department of Water and Sanitation has begun its programme of training fifteen thousand young people as artisans.Madam SpeakerMadam Chairperson,On improving labour relations, we welcome the agreement reached by social partners at NEDLAC on the principle of a national minimum wage.Deliberations continue on the level at which the minimum wage must be placed.It is important to emphasise that the national minimum wage should be implemented in a manner that does not undermine employment creation, the thriving of small businesses or sustained economic growth.We are also encouraged by reports from NEDLAC that a framework to stabilize the labour market by reducing the length of strikes and eliminating violence during strike action is being finalized.We have heard the concerns of labour about the Tax Amendment Act that I signed into law in December, following its passing by Parliament.Government is in discussion with COSATU about the matter and a solution is being sought.Discussions are also on-going within government, led by the Department of Social Development and National Treasury, with regards to finalising the comprehensive social security policy.Compatriots,Only a few years ago, our mining sector was in turmoil especially on the platinum belt.The situation has improved and we commend business and labour for the progress made.Another positive development in the mining sector was the Leaders’ Declaration to Save Jobs which was signed by mining industry stakeholders in August 2015.We urge the parties to implement the agreement and to continue seeking ways of saving jobs.We appeal to business again that retrenchments should not be the first resort when they face difficulties.Compatriots,In 2014 we launched the popular operation Phakisa Big Fast results methodology and implemented it in the ocean economy, health, education and mining sectors.Seven billion rand has been committed in new port facilities, following the adoption of a Public- Private-Partnership model for port infrastructure development by Transnet National Ports Authority.Compatriots, we were concerned that South Africa did not own vessels while we are surrounded by about three thousand kilometres of a coastline.Through the oceans economy segment of Operation Phakisa, we are trying to solve this challenge.I am pleased that two bulk carrier vessels have been registered in Port Elizabeth, and a third tanker in Cape Town under the South African flag.Another positive Operation Phakisa development has been the launch of a fuel storage facility here in Cape Town, bringing an investment of six hundred and sixty million rand.Aquaculture appears to be an important growth area within the oceans economy segment of Operation Phakisa.Close to three hundred and fifty thousand rand private sector investment has thus far been committed in the Aquaculture sector. Nine aquaculture farms are already in production. These farms are located within the Eastern Cape, KwaZulu-Natal, Western Cape and Northern Cape.We continue to promote innovation within the Nine Point Plan programme.The Department of Science and Technology will finalise the Sovereign Innovation fund, a Public private funding partnership aimed at commercialising innovations that are from ideas from the public and the private sectors.Government will fast track the implementation of the first phase of broadband roll-out to connect more than five thousand government facilities in eight district municipalities over a three year period.Funding to the tune of 740 million rand over a three year period has been allocated in this regard.CompatriotsA lot of work was done in the social sector as well in the past year.Government has responded to the financial shortfall arising from the zero per cent university fee increase, as agreed in meeting with students and vice-chancellors last year.The Minister of Finance will provide the details of education shortfall funding in the Budget speech.I have appointed a Judicial Commission of Inquiry into higher education. We urge all stakeholders to cooperate with the Commission and help ensure its success.On the health front, the life expectancy of South Africans for both males and females has significantly improved and is currently 62 years across genders, which is an increase of eight and a half years since 2005.The HIV policy turnaround in 2009 led to a massive rollout of HIV testing and treatment for 3.2 million people living with the virus.This has contributed immensely to healthier and longer lives for those infected.We acknowledge the contribution of partners in the South African National Aids Council which is chaired by the Deputy President.Our next step is to revive prevention campaigns especially amongst the youth. The Minister of Health will soon announce a major campaign in this regard.I am also happy to announce that the state-owned pharmaceutical company, Ketlaphela, has been established. The company will participate in the supply of anti-retroviral drug to the Department of Health from the 2016/17 financial year.Meanwhile, the White Paper on National Health Insurance was released in December aimed at improving health care for everyone in South Africa.Compatriots,Local government elections will be held within three months after the 18th of May, the date of the last elections.We urge all citizens who are over the age of 18 to register to vote during the first registration weekend, 5 and 6 March 2016.We urge the youth in particular who are turning 18 years of age this year, to register in their numbers for this first ever opportunity to cast their votes.Our Back to Basics local government revitalisation plan was launched in September 2014 and 2015 has been the year of intensive implementation.In this second phase of implementation, national government will engage in more active monitoring and accountability measures.This includes unannounced municipal visits, spot checks of supply chain management processes, the implementation of recommendations of forensic reports, site visits of Municipal Infrastructure Grant funded projects, and increased interventions to assist struggling municipalities.A 10 point plan of Back to Basics priority actions has been developed to guide this next phase.The plan includes the promotion of community engagement, which is absolutely critical to enable communities to provide feedback on their experience of local government.I already undertook a walkabout at Marabastad taxi and bus rank in Pretoria on Monday to speak to informal traders and commuters.The majority of complaints and issues raised related to municipal services.They would like the Tshwane municipality to clean the area and also to fix some broken sewerage pipes. Traders said they needed and were prepared to pay.They alerted me that many people in Elandspoort receive RDP houses but instead of occupying them, they either sell them or rent them out other people.Mrs Baloyi who runs a stall complained about nyaope drug addicts who steal goods from traders.Other commuters said I must visit Kwaggafontein in the former KwaNdebele and see the lack of service delivery. I will visit the area soon.I was also able to speak to foreign nationals who said they queue daily to apply for documentation from the Department of Home Affairs. We will continue to visit communities to hear their concerns and suggestions. Issues raised during the visit will be followed up by the respective departments.CompatriotsThe South African Police Service is undergoing a turnaround and has adopted the Back to Basics approach to management to rebuild the organisation and to improve performance at all under-performing police stations.We note sadly, as well that fifty seven police officers have been murdered to date during the 2015/16 financial year. We condemn this criminality strongly.We urge the police to defend themselves when attacked, within the confines of the law.CompatriotsThe African continent remains central to our foreign policy engagements.South Africa continued to support peace and security and regional economic integration through participation in the African Union and the Southern African Development Community initiatives.We continued to assist sister countries in resolving their issues for example in Lesotho and South Sudan.The South African National Defence Force represented the country bravely and remarkably well in peacekeeping missions on the continent. We are truly proud of our soldiers. They will be showcasing their capability in Port Elizabeth from the 13th to the 21st of February, the celebration of Armed Forces Day.The Agreement by BRICS nations on the New Development Bank or BRICS Bank came into force and the bank is envisaged to approve its inaugural projects in April this year.We participated in the India-Africa Summit as well as the Forum on Cooperation between Africa and China as we strengthened these important partnerships.China announced investments of fifty billion US dollars of which South Africa will receive ten billion US dollars for infrastructure, industrialisation and skills development.On North-South cooperation, we continued our engagements with the European Union as a bloc which is our largest trading partner and foreign investor.Over 2000 EU companies operate within South Africa creating over three hundred and fifty thousand jobs.South Africa’s relations with the USA and Canada continue to strengthen, especially in the areas of economy, health, education, energy, water, safety and security, capacity building and the empowerment of women.The renewal and expansion of the African Growth and Opportunity Act (AGOA) provides a platform for the enhancement of industrialisation and regional integration. All outstanding issues around AGOA are being attended to.CompatriotsWe extend good wishes to all athletes who have qualified for the Olympic Games to be held in Rio de Janeiro.We encourage participation in several programmes aimed at promoting healthy lifestyles and nation building.These include the National Recreation Day, the Nelson Mandela Sports and Culture Day; the World Move for Health Day, the Golden Games and the Andrew Mlangeni Golf Development Day.Compatriots,A committee has been established to coordinate the participation of our performing arts legends in nation building activities in the country.The Living Legends committee is chaired by playwright Mr Welcome Msomi working with music icon, Ms Letta Mbulu, as deputy chairperson.We are also happy that musicians and actors amongst others heeded our call to unite and have formed the Creative Industries Federation of South Africa. The Presidency has established the Presidential Creative Industries Task Team to support our artists.Compatriots,To achieve our objectives of creating jobs, reducing inequality and pushing back the frontiers of poverty we need faster growth.In the National Development Plan, we set our aspirational target growth of five per cent per year, which we had hoped to achieve by 2019.Given the economic conditions I have painted earlier on, it is clear that we will not achieve that growth target at the time we had hoped to achieve it.The tough global and domestic conditions should propel us to redouble our efforts, working together as all sectors. In this regard, it is important to act decisively to remove domestic constraints to growth.We cannot change the global economic conditions, but we can do a lot to change the local conditions.Let us work together to turn the situation around. It can be done.I thank you.
Performance Max Flight Distance: 100mMax Speed: 8m/sMax Flight Time: 13min Image via DJI. DJI, in my opinion, is the undisputed king of drones. They were one of the first competitors on the market and have held their position steadfastly for the past several years. With GoPro leaving the drone game after the lackluster performance of the Karma, DJI seems to keep its place on the top of the hill. One of DJI’s latest moves is the release of the Tello, DJI’s first low-cost consumer drone.DJI paired with the startup company Ryze Robotics, a tech up-and-comer specializing in drones, to release this one-of-a-kind piece of equipment. It features an intel processor for photo processing, along with image stabilization and the ability to capture 5mp pictures. It may only feature 720p transmission for its video function, but that’s not too bad for a drone under $100.Honestly, this drone isn’t built for capturing cinematic footage. But it has the potential to be the next gift your kid wants for their birthday. It comes with VR support for first-person flying, as well an app to connect a controller for even more precision and control. It even comes with Scratch, an MIT-developed coding system that allows you to learn more about programming and customizing your drone. Keep your eyes on this one, folks, because it’s going to be the hot new item when it (hopefully) releases in the next few weeks.Here are the specs: With the huge tech conference CES 2018 starting today, DJI has just rolled out some new products that are sure to turn heads.Cover image via Ryze Robotics.The 2018 Consumer Electronics Show is moving into full swing this week, which has all of the tech giants lined up to showcase their new gear and tech. Stabilizer and Drone company DJI certainly is rising to the challenge and decided to release all of its new gear a few days before CES even began. Their new lineup includes the successor to their Osmo mobile stabilization device, a Ronin-branded DSLR handheld stabilizer, and a surprising $99 consumer drone that pairs their technology with Ryze — a new robotics startup.Tello Weight: approximately 80 g (with propellers and battery)Dimensions: 98mm*92.5mm*41mmPropeller: 3-inchBuilt-In Functions: Range Finder, Barometer, LED, Vision System, WIFI 802.11n 2.4G, 720P Live ViewPort: micro USB charging portMax Flight Distance: 100mMax Speed: 8m/sMax Flight Time: 13minPhoto: 5MP (2,592×1,936)FOV: 82.6°Video: HD720P30Format: JPG(Photo); MP4(Video)Electronic Image Stabilization: Yes Osmo Mobile 2Previously, if you were looking for a quality mobile phone stabilizer, the usual go-to was the original Osmo Mobile. Unfortunately, the $200 price tag turned away the average consumer. With the release of the Osmo Mobile 2, DJI has upgraded a few features — as well as bringing that price point all the way down to $129.99. Pretty impressive.New features for this mobile stabilizer include full support for portrait recording, as well as simpler controls and a hefty 15-hour battery life. With the price drop from the original model and a few upgrades, this new piece of equipment is sure to be in the hands of every on-the-go cinematographer — or even your friendly neighborhood skate crew — in the upcoming months.Ronin-SI can’t express enough how impressed I am with this stabilizer. Being released into the already-industry-leading product line of the Ronin, the Ronin-S has compacted all of the features of the two-handed stabilizer into one. It has the impressive ability to handle the payload of a typical DSLR or mirrorless camera while providing top-grade DJI stabilization performance. It also provides a focus-assist that you can control from the base of the rig.This is DJI’s challenge to Zhiyun and Feiyu, who have a firm hold on the one-handed stabilization market, and once we get a closer look at it when the technical specs are released, it may unbalance the playing field substantially.Make sure to follow PremiumBeat on Facebook for more coverage of CES 2018.