V&A buyers to invest more in SA

first_img16 February 2007The British- and Dubai-led consortium that bought Cape Town’s landmark Victoria & Alfred (V&A) Waterfront for US$1-billion has indicated that it will spend at least a further $1-billion on the development of “Africa’s Riviera” ahead of the 2010 Fifa World Cup.The V&A Waterfront, a world-class mixed-use development near the heart of Cape Town’s central business district, attracts up to 22-million visitors a year. Set against a backdrop of sea and mountain views, its mixes shopping and entertainment venues with offices, luxury hotels and exclusive apartments in a residential marina.In September, Istithmar, the private equity arm of government-owned Dubai World, partnered with UK-based London and Regional Properties and a local black empowerment grouping in a successful bid to buy the Waterfront.Only 45% of the 603 000 square metre property has been developed, and the consortium immediately announced plans to drive the further development of the V&A Waterfront as “a world-leading shopping, leisure, business and luxury waterfront destination”.2010 opportunityLondon and Regional Properties director Richard Livingston said in a statement following the sale that the most important thing the V&A Waterfront offered the consortium was “opportunity”.“It sits in a magnificent location with significant allowable development, giving us the chance to create a truly world-class resort, which can be a focal point for the Fifa World Cup 2010,” Livingston said.“The existing waterfront development consistently attracts a high volume of tourists annually, and our proposed enhancement of this exceptionally unique location will further the growth of Cape Town as a leading lifestyle destination.”James Wilson, CEO of Nakheel Hotels and Resorts – an Istithmar subsidiary company appointed, along with London and Regional, to manage the development – confirmed the link with the 2010 World Cup, saying in the same statement that they aimed to ensure that the Waterfront “links seamlessly” both to the central business district and the new stadium to be built for 2010.In a recent interview with Engineering News, Wilson said that Dubai World would spend at least $1-billion on developing the Waterfront ahead of the World Cup, and was considering the part funding and construction of a new boulevard between the Waterfront and the still-to-be-built Green Point Stadium.According to Engineering News, potential new developments at the V&A include a new yacht club and further marina development, a cruise ship terminal, a train station and improved connections to Cape Town International Airport.The consortium is also looking to build a number of new hotels, including a 250-bedroom luxury hotel and a resort hotel. “We have already had every top-ten hotel group in the world approach us over opportunities at the V&A,” Wilson told Engineering News.Other investment possibilitiesIn a separate interview with Business Day during a conference in Cape Town in November, Wilson said that Dubai World was looking at possible investments in a number of other sectors in South Africa.He said Dubai World disagreed with the high risk rating assigned to SA by international raging agencies. “There is a crime issue [in South Africa],” he said, “but employment will solve that.”South Africa, he told Business Day, had a sophisticated economy backed by a sound legal system and a banking system comparable to that of the US or UK. It also boasted some of the best tourism assets in the world – and offered excellent returns on investment.“The costs of entry are lower here than in the rest of the world,” Wilson said. “With the price of entry being low, obviously the investment return is higher for us.”SouthAfrica.info reporter Want to use this article in your publication or on your website?See: Using SAinfo materiallast_img read more

Where does Pasaol’s 49-point game stack up against past scoring outbursts?

first_imgLATEST STORIES For the complete collegiate sports coverage including scores, schedules and stories, visit Inquirer Varsity. But Pasaol came six points short of the record held by now-Mapua assistant coach Ed Cordero.Cordero fired an eye-popping 54 points in his heyday with the then-UST Glowing Goldies to set the long-standing UAAP feat in 1979.Letran coach Jeff Napa, who owns the highest scoring output in the past two decades after firing 43 points for National U in 2002 in Season 65, meanwhile, sees this as an opportunity for Pasaol to make a difference for the 0-6 Red Warriors.“It’s a great motivation for him so that he can work harder in his career and help his team,” he said.ADVERTISEMENT Frontrow holds fun run to raise funds for young cancer patients  Brace for potentially devastating typhoon approaching PH – NDRRMC Meralco completes sweep of Star with OT win, returns to Finals Fire hits houses in Mandaluyong City Two-time UAAP MVP Kiefer Ravena, whose career-best was 38 points in Season 77 back in 2014, tweeted: “49 is already hard to do. But in 20/30 FG% and in 32 mins? Well I be damned.”Fellow two-time UAAP MVP Bobby Ray Parks, who only scored as high as 35 in Season 75 in 2012, hoped that the guard could have broken the half-century mark, as he tweeted: “Let Pasaol get his 50 piece!”FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutPasaol’s 49 points on an efficient 20-of-30 shooting, that went with top of eight rebounds, is the most points scored by a Red Warrior since James Yap’s 36 in UAAP Season 65 in 2002.In terms of scoring, he also surpassed Paolo Mendoza, who had a 48-point performance for UP in 1999, the legendary duel of UE legend Allan Caidic, who had 46, and UST great Pido Jarencio, who answered with 48 markers, in Game 3 of the UAAP Season 47 Finals in 1984. Trending Articles PLAY LIST 00:50Trending Articles00:50Trending Articles03:07PH billiards team upbeat about gold medal chances in SEA Games01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games Photo by Tristan Tamayo/INQUIRER.netAlvin Pasaol set the Philippine basketball scene ablaze after his 49-point outburst on Wednesday.Former UAAP standouts were nonetheless impressed with the feat from University of the East forward even if it came with a 106-100 loss to La Salle.ADVERTISEMENT Don’t miss out on the latest news and information. Nonong Araneta re-elected as PFF president MOST READ Read Next LOOK: Loisa Andalio, Ronnie Alonte unwind in Amanpulo for 3rd anniversary BSP sees higher prices in November, but expects stronger peso, low rice costs to put up fight Typhoon Kammuri accelerates, gains strength en route to PH Fire hits houses in Mandaluyong City View commentslast_img read more

Yuki to play first singles as team gears up to face World No.2 Serbia

first_imgIndias Yuki Bhambri trains in Bangalore on Thursday, a day before the Davis Cup World Group play-off tie against Serbia.On the eve of its World Group play-off tie against Serbia, the Indian team looked a happy bunch. Playing against Serbia, who are ranked second in the world and finished runners-up last year, not many would have given India a chance to make their way into the top-16.But with Serbia without their three most experienced and prominent players, the Indian team is relishing an opportunity to go through to the next stage.For that to happen, a lot will depend on the two singles matches that will be played on Friday. Yuki Bhambri and Somdev Devvarman will have to punch above their weight if India are to cause an upset.Yuki has been drawn against Serbia’s Dusan Lajovic, who has been playing well, while Somdev, ranked 144th, will be up against young Filip Krajinovic.On Saturday, India’s formidable doubles pair of Leander Paes and Rohan Bopanna will take on Nenad Zimonjic and Ilija Bozoljac.On Sunday, Somdev is scheduled to play the first reverse singles against Lajovic, while Yuki will play Krajinovic. The teams can, however, change the players for the fourth and fifth rubber until one hour before the matches.India’s non-playing captain, Anand Amritraj, sounded pleased with the fact that Yuki will open the campaign as both his singles players wanted to play first on the opening day. “Both Somdev and Yuki wanted to play first, so we are happy, whoever is playing the first match,” said Amritraj, who will be seen in a jacket that he wore when India reached the final of the 1987 Davis Cup.advertisementIndia had decent success in the Davis Cup, reaching the finals three times – in 1966, 1974 and 1987. But since then, India haven’t been able to repeat their historic feats.Doubles has always been India’s strong point but singles is where they have faltered, which is why their success rate has been affected. India come into the tie on the back of some good wins against Chinese Taipei and Korea, whom they beat 3-1 in an away tie.Serbia are in this position after losing to Switzerland in the World Group first round, in which they were also without the services of World No.1 Novak Djokovic. Somdev understands his responsibilities being the top-ranked singles player in the Indian team. “It is not about who plays first. Every single point in the match or the tie, for that matter, will be important. Filip has had the best season of his career. I am doing pretty well so I will put my best foot forward tomorrow,” said Somdev.The bounce because of the high altitude here will also be a factor as it will be difficult to control the shots. The ball is likely to fly past quicker through air and that is where Yuki, who is the more aggressive of the two Indians, may have to pay more attention.The tie will be played in the evening under lights here, although Indian captain Amritraj said both teams would have preferred morning starts.”Personally, I would have opted to play in the morning, and in Davis Cup, normally, matches are played in the mornings. However, both the teams agreed to the wishes of the organisers here and we are ready for it,” said Amritraj.Yuki is scheduled to play his reverse singles match against Krajinovic and the two know each other quite well. They haven’t played against each other in many years but they used to train together at the Nick Bollettieri academy.last_img read more

Oscar De La Hoya denies accusations in sexual assault lawsuit

first_imgDuterte calls himself, Go, Cayetano ‘the brightest stars’ in PH politics This jewelry designer is also an architect Trending Articles PLAY LIST 00:50Trending Articles01:26Lawmakers hail fighting Senator Pacquiao’s victory over Thurman01:24DILG, Napolcom should consider Senate report on admin raps vs Albayalde02:11Makabayan bloc defends protesting workers, tells Año to ‘shut up’03:07PH billiards team upbeat about gold medal chances in SEA Games01:38‘Bato’ to be ‘most effective’ CHR head? It’s for public to decide – Gascon02:07Aquino to Filipinos: Stand up vs abuses before you suffer De Lima’s ordeal01:28Ex-President Noynoy Aquino admits contracting pneumonia00:45Aquino agrees with Drilon on SEA games ‘kaldero’ spending issue Sports Related Videospowered by AdSparcRead Next Someone from the Philippines could win a $208 million jackpot this week! DTI creates Marahuyo, a luxe Filipino fashion brand for global buyers LATEST STORIES Canadian vaping study details danger from ‘popcorn lung’ chemical Phoenix starts slow, then blows past Sacramento FILE – Oscar De La Hoya at the premiere of HBO’s “What’s My Name: Muhammad Ali” at Regal Cinemas L.A. LIVE Stadium 14 on May 08, 2019 in Los Angeles, California. Alberto E. Rodriguez/Getty Images/AFPLOS ANGELES — Boxing promoter Oscar De La Hoya denies accusations of sexual assault contained in a lawsuit filed against him this week.De La Hoya’s company, Golden Boy Promotions, issued a statement Tuesday describing the action as a “frivolous lawsuit” and calling the allegations “completely false.”ADVERTISEMENTcenter_img Becoming his own man Don’t miss out on the latest news and information. Matteo Guidicelli had saved up for Sarah G’s ring since 2014? MOST READ “Oscar is a very successful businessman, running one of the country’s leading sports and entertainment companies — thus a prime target,” the statement reads.De La Hoya won a gold medal at the 1992 Olympics and went on to claim world title belts in six weight classes. He was one of the most successful boxers of his generation upon his retirement in 2009, and he has run Golden Boy Promotions since 2002.De La Hoya has been married to Millie Corretjer since 2001, and they have two children. The former boxer has acknowledged substance abuse problems several times in his past, admitting alcohol abuse and cocaine use.The woman’s lawsuit seeks a jury trial and unspecified damages for alleged sexual assault, sexual battery, gender violence, negligence and intentional infliction of emotional distress.ADVERTISEMENT Ethel Booba on SEA Games cauldron: ‘Sulit kung corrupt ang panggatong’ The lawsuit filed Monday in Los Angeles County Superior Court alleges that the unnamed woman had a consensual sexual relationship with De La Hoya until he assaulted her at his home in Pasadena on November 2017.The lawsuit goes into graphic detail in its allegations against De La Hoya, claiming the former boxing champion was intoxicated at the time that he overpowered the woman. The lawsuit doesn’t specify whether she filed a complaint with the police after the alleged attack, which left her requiring medication for “extreme swelling and pain.”FEATURED STORIESSPORTSGreatest ever?SPORTSFormer PBA import Anthony Grundy passes away at 40SPORTSSan Miguel suspends Santos, Nabong, Tubid indefinitely after ‘tussle’ in practiceThe complainant says she went to a hospital after the alleged attack and eventually sought psychological treatment, during which she was diagnosed with post-traumatic stress disorder. The woman claims she still has daily symptoms of depression and anxiety.Golden Boy Promotions’ statement suggests De La Hoya is being extorted. View commentslast_img read more

TSX falls as energy stocks fail to get lift from highest crude

first_imgTORONTO – Canada’s main stock market resumed its downward trajectory Wednesday as energy stocks failed to get a lift even though crude oil prices hit nearly a nine-week high.There was a disconnect as the overall market didn’t benefit from higher commodity prices because of uncertainty over NAFTA negotiations, said Candice Bangsund, vice-president and portfolio manager for Fiera Capital.“We’re not there yet and I think the market is just expressing a little bit of caution there and just waiting for some sort of tangible news on the NAFTA front,” she said in an interview.“That NAFTA overhang has really weighed on the index fairly generally and the hope is that we do get some sort of positive news on that front and likely could see a relief rally on Canadian stocks.”The S&P/TSX composite index closed down 45.23 points to 16,049.02, after hitting a low of 15,993.58 on 266.3 million shares traded. The decrease came a day after the market hit its first daily gain in September.Market heavyweights industrials, financials and energy all closed down.Gold, materials and base metals led on the positive because of a lower U.S. dollar and hope that a solution could be found in the U.S. trade dispute with China after a report said that the Americans were seeking new trade talks before even imposing new tariffs.“We find this to be fairly encouraging and I think the market is tentatively, cautiously optimistic so that’s why you’re not seeing a strong relief rally,” Bangsund said.Offsetting the hope was a down day in the United States for the market-heavy U.S. technology sector.In New York, the Dow Jones industrial average gained 27.86 points to 25,998.92. The S&P 500 index was up 1.03 points to 2,888.92, while the Nasdaq composite was off 18.24 points to 7,954.23.The Canadian dollar was trading at an average of 76.84 cents US compared with an average of 76.22 cents US on Tuesday.The gain came as the October crude contract was up US$1.12 at US$70.37 per barrel, the highest level since July 13.The improvement was driven by the U.S. producer price index posting its first monthly decline in 18 months, a weaker U.S. greenback against several currencies and concern about the impact of Hurricane Florence that is set to hit the U.S. southeastern coast.“On the oil front we saw a larger than expected weekly draw down in crude stockpiles so this is contributing to an already fairly tight crude market,” she added.The October natural gas contract was up 0.1 of a cent at US$2.83 per mmBTU.The December gold contract was up $8.70 to US$1,210.90 an ounce and the December copper contract was up 5.4 cents at US$2.68 a pound.last_img read more

US average mortgage rates ease 30year at 483 per cent

first_imgWASHINGTON – Long-term U.S. mortgage rates declined this week, in a quiet pause after weeks of market anxiety over rising interest rates.Home borrowing rates still remain at their highest levels in more than seven years, dampening the outlook for prospective homebuyers. Mortgage buyer Freddie Mac said Thursday the rate on 30-year, fixed-rate mortgages eased to an average 4.83 per cent this week from 4.86 per cent last week. A year ago, it stood at 3.94 per cent.The average rate on 15-year, fixed-rate loans slipped to 4.23 per cent this week from 4.29 per cent last week.Anxiety over rising interest rates, which result from strength in the economy, has buffeted financial markets in recent weeks and spilled over into the housing market.U.S. stocks rallied on Tuesday and Wednesday after falling sharply from early October through the last few days of the month — a skid that wiped out their gains from earlier in the year.The combination of higher mortgage rates and increasing home prices has made home ownership less affordable.Despite the higher borrowing costs, “the monthly mortgage payment remains affordable,” Freddie Mac chief economist Sam Khater said. For many buyers, he said, the persistent lack of available properties for first-time homebuyers is a bigger hurdle than higher mortgage rates because choices are limited. And the shortage of available homes has pushed prices higher.To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week.The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates.The average fee on 30-year fixed-rate mortgages was unchanged from last week at 0.5 point. The fee on 15-year mortgages rose to 0.5 point from 0.4 point.The average rate for five-year adjustable-rate mortgages dropped to 4.04 per cent from 4.14 per cent last week. The fee held steady at 0.3 point.last_img read more

Province to increase number of MRI scans completed in Northern BC

first_imgThe Province says it will reach this target by running existing machines longer, establishing a central intake at the regional level to reduce duplicate referrals and appointments, adding already planned MRI machines and by adding additional capacity to the public system.In 2017-2018, Northern Health did 7,632 MRI scans, and under the new plan, the Province says Northern Health will complete 13,000 from 2018-2019.The new MRI at the Fort St. John Hospital became operational in late September of 2017. VICTORIA, B.C. – The Province says it will increase the number of MRI scans completed in Northern B.C. from 7,600 to over 13,000 by 2019.Minister of Health Adrian Dix has announced that the Province will do 37,000 more MRI exams by the end of March 2019 compared to the previous year.  To meet this number, the Province has made $11 million available to the public health-care system to add resources and capacity.“Wait times are simply too long in B.C., in part due to volumes that are 35% to 40% less than other provinces,” said Dix. “Increasing MRI exams by 37,000 exams in B.C. this year, with further increases planned for 2019-20, will reduce the uncertainty and pain caused by long waits. We plan to maximize resources and employ best practices in the public system to reduce wait times and improve care.”last_img read more

Public comment now open for LNG facility on Vancouver Island

first_imgVANCOUVER B.C. – The Canadian Environmental Assessment Agency has to decide if a Federal Environmental Assessment is required for the proposed Kwispaa LNG facility.The project is being developed north of Bamfield on Vancouver Island.  The Federal Environmental Assessment agency is now seeking public input to help make this decision.This project would convert natural gas to LNG for export which would produce 24 million tons of LNG for at least 25 years. The Canadian Environmental Assessment Agency (CEAA) is looking for the public and indigenous groups comments in regards to the project and the potential effects on the environment by welcoming written feedback to be sent by letter or email.All comments must be submitted by November 18, 2018, and are considered public.  The CEAA will post on their website their decision. If an environmental assessment is required the public will have three more opportunities to comment.Please direct your comments to the following;Kwispaa LNG ProjectCanadian Environmental Assessment Agency410-701 West Georgia StreetVancouver, British Columbia V7Y 1C6Telephone: 604-666-2431Email: CEAA.Kwispaa.ACEE@canada.calast_img read more

Oriental Bank logs Q4 net profit of Rs 202 crore

first_imgNew Delhi: Public sector Oriental Bank of Commere (OBC) Monday posted a net profit of Rs 201.50 crore for the January-March quarter of the last fiscal, helped by fall in bad loans, arrest of fresh slippages and a healthy growth in retail loan portfolio. The bank had clocked a loss to the tune of Rs 1,650.22 crore in the corresponding period of the fiscal ended March 2018. Total income grew to Rs 5,711.92 crore in the March 2019 quarter from Rs 4,689.12 crore in the same period of the preceding fiscal. On a yearly basis, the bank managed to return to profit after two fiscals by registering a net profit of Rs 55 crore for FY 2018-19. Also Read – Commercial vehicle sales to remain subdued in current fiscal: IcraThe lender had posted a loss of Rs 5,872 crore in 2017-18 and of Rs 1,094.07 crore in 2016-17. For FY 2018-19, total income stood at Rs 20,536.77 crore as against Rs 20,181.25 crore in the previous fiscal. On the asset quality front, gross non-performing assets (NPAs) came down to 12.66 per cent of gross advances at the end of March 2019 from 17.63 per cent in March 2018. Net NPAs or bad loans were also trimmed to 5.93 per cent from 10.48 per cent. Also Read – Ashok Leyland stock tanks over 5 pc as co plans to suspend production for up to 15 days”We have been making profits for the last three quarters. We are very confident that we will sustain the profit in the times to come year after year, quarter after quarter…,” the bank’s MD and chief executive, Mukesh Kumar Jain, told a news conference at its headquarters. “Earlier we were having more than Rs 12,000 crore slippages (for) the full year, now this is contained to around Rs 7,000 crore. Recovery and upgradation (of loan accounts) … has increased from Rs 3,161 crore to Rs 6,597 crore now,” he said. So these things are basically contributing to the turnaround, Jain said. Further, he said that the bank is confident of bringing down the bad loans to below 5 per cent on a net basis by the next fiscal and the gross NPAs less than 10 per cent on account of focussed strategy on arresting slippages, speedier recovery process and constant monitoring. “Our main focus is on recovery and upgradation only. We have even posted six general managers in the field for only with the responsibility of recovery and upgradation (of loan accounts). And we have been seeing good results also,” he said. On asked about bank consolidation and prospects of merger into some bigger, Jain said being a mid-sized bank Oriental Bank can equally acquire some other lender/s as well because of strong fundamentals. “We can think of acquiring some other banks also. Yes, if some opportunity is there as we are in profits, good credit growth is there, net interest margin of about 2.73 per cent. All these parameters are quite healthy and we are open to acquire other bank as well,” he added.last_img read more

Womens gymnastics Ohio State tops No 11 Michigan Washington and Kent State

The Ohio State women’s gymnastics team snagged another win with an overall score of 195.8 after their home quad-meet against No. 11 Michigan, Washington and Kent State on Saturday evening.The team started strong in their first rotation event on vault, scoring a total of 49.12. Junior Alexis Mattern received the highest score and career best of 9.9, tying for first on vault with Michigan’s Olivia Karas.“Person after person, and being the sixth person up on vault, it’s, it’s kind of tough,” Mattern said. “So you have to wait and watch your teammates, and you just wait in the wings until it’s your turn. And for me to do the vault that I’ve been training all week, right in the moment, when it really counted, was just really great to start that off.”The Buckeyes gained the lead after the first rotation and continued with momentum to the second event on uneven bars. Sophomore Kaitlyn Hofland placed second overall with a score of 9.85.After the third rotation on beam, OSU still held the lead before entering their fourth and final event on floor.“As much as we try not to focus too much on the scores, we could see that we were still in the lead going into the last event,” Hofland said. “Floor is a strong event for us. It’s a fun event. It’s an awesome event and we knew we all could do it.With the team placing first in their Saturday meet and Mattern finishing third in the all-around with a 39.125, Ohio State received their first conference win against Michigan.“To beat them at home when all the odds were really stacked against us just means so much more, especially because we worked so hard,” said Mattern.After riding a wave from their second victory, the team said it won’t take the win for granted. A few minor performance issues were seen during the meet, such as two girls receiving a one-tenth point deduction for stepping out of bounds on their floor routines.Although coach Carey Fagan took these performances as something to improve upon in preparation for their next meet on Jan. 28 against Iowa, she holds a strong positive outlook for the coming meet and the season as a whole.“Starting off in the conference 1-0 is going to be huge for my team, and beating — Michigan is a great team,” said Fagan. “They’re historically strongest in the conference, so I think the confidence that my team will get knowing that they compete with the best will really set us up for the rest of the season.” read more