‘Jobs, investment, sustainable debt’

first_img11 February 2009Protecting the poor and sustaining job creation were two of five guiding principles that formed the basis of Finance Minister Trevor Manuel’s latest Budget speech.Delivering his Budget speech to Parliament in Cape Town on Wednesday, Manuel said that, in a time of global economic turmoil, the government had been guided by five enduring principles in drawing up South Africa’s national Budget for 2009/10.These were: protecting the poor; sustaining jobs growth and expanding training opportunities; building economic capacity and promoting investment; addressing the “barriers to competitiveness that limit equitable sharing of opportunities”; and maintaining a sustainable debt level “so that our actions do not constrain our development tomorrow”.‘GDP growth of 1.2% in 2009’According to the National Treasury, South Africa’s incomes and outputs slowed sharply in the second half of 2008, with gross domestic product (GDP) growth averaging about 3.1 percent in 2008.With the slowdown in international demand for South Africa’s exports, including the commodities that form the bedrock of the country’s economy, as well as reduced consumer spending and high interest rates, GDP growth is expected to average 1.2 percent for 2009, recovering to 4 percent by 2011.“We expect output growth to improve in 2010, supported by public infrastructure spending, lower interest rates, the 2010 Fifa World Cup and a recovery in the world economy,” Manuel said.Trading conditions ‘tough’However, he warned that trading conditions were tough and “likely to deteriorate further in the short term.”2008 was a year of economic shocks for South African producers, with increasing electricity tariffs, rising input costs, high interest rates and slowing demand for goods among consumers.The mining sector was one of the worst affected by the slowdown in demand in 2008, as evidenced by Monday’s announcement by one of South Africa’s biggest mining houses, Anglo Platinum, that it planned to cut 10 000 jobs in 2009.Manuel said the manufacturing, retail trade and residential construction sectors had also been badly hit by the global slowdown, and had already begun laying off workers, with the pace of job losses set to increase.Inflationary pressures easeInflation in South Africa has over the past two years been fuelled by rapid increases in food and oil prices, domestic capacity constraints and a weaker local currency, as well as rising electricity tariffs.The consumer inflation averaged 11.3 percent in 2008, spurred by an inflationary cycle which began in June 2006.Despite this, the National Treasury expects inflation to return to within the South African Reserve Bank’s inflation target band of 3-6 percent by the first half of 2009.In response to an improving inflation outlook and an easing of inflationary pressures such as oil prices, the central bank cut South Africa’s interest rates by a cumulative 1.5 percent between December 2008 and February 2009.Source: BuaNewslast_img read more

FIFA research says 3.5B people viewed some World Cup action

first_imgView comments Chooks-to-Go 3×3 league set to kick off with 12 city-based teams The 10 most watched games all had a verified average TV audience of more than 260 million viewers. The second-highest rating was 327.5 million for Croatia’s semifinal win over England in extra time.FIFA’s research suggests most viewers also watched for longer than they did four years earlier.The number of people watching at least 30 consecutive minutes of any game in their home was almost 2.5 billion — up more than 27 percent from the same measure in 2014.South Americans were the most avid viewers despite watching fewer hours overall of a tournament where Brazil exited in the quarterfinals, and Argentina in the round of 16.FIFA said 96.6 percent of South America’s population saw at least one minute of any game. However, their 5.52 billion hours of total viewing fell 26.9 percent from the 2014 tournament where host Brazil placed fourth.ADVERTISEMENT SEA Games: Biñan football stadium stands out in preparedness, completion LATEST STORIES Is Luis Manzano planning to propose to Jessy Mendiola? Private companies step in to help SEA Games hosting PH underwater hockey team aims to make waves in SEA Games PLAY LIST 02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss TS Kammuri to enter PAR possibly a day after SEA Games opening MOST READcenter_img In Europe —which provided all four semifinalists in Russia — the 2018 World Cup reached 86 percent of people watching an average of 14.6 hours.“In contrast only 38.4 percent of the Asian population were reached by World Cup coverage, reflecting relatively lower interest in the Indian subcontinent,” FIFA said.Still, almost 30 percent more viewing hours were measured in Asia, where games in Russia were played in time zones more convenient than in 2014.Sports Related Videospowered by AdSparcRead Next Changing viewing habits — and no South American team in the final — help explain a drop from the 545-million average TV audience for the Germany-Argentina final in 2014.In comparison, the 2016 European Championship final attracted a 284.4 million average audience for Portugal beating host France. The most-watched Super Bowl in the United States was 114.4 million when the New England Patriots beat the Seattle Seahawks in 2015.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSUrgent reply from Philippine ‍football chiefFIFA said the global TV audience for the 64-match tournament in Russia averaged 191 million per game — up from 187 million for the 2014 edition in Brazil.“Each game was a global televisual event in its own right,” soccer’s governing body said, citing research by Publicis Media Sport & Entertainment. BREAKING: Corrections officer shot dead in front of Bilibid SEA Games: Biñan football stadium stands out in preparedness, completion Hotel management clarifies SEAG footballers’ kikiam breakfast issue LOOK: Joyce Pring goes public with engagement to Juancho Triviño Don’t miss out on the latest news and information. FILE – In this Sunday, July 15, 2018 file photo, people watch a giant screen during the World Cup final between France and Croatia, on the Champ de Mars next to the Eiffel Tower in Paris. FIFA says more than 3.5 billion people viewed some of the 2018 World Cup, with 1.12 billion watching at least one minute of France beating Croatia 4-2 in the final. A FIFA-commissioned review of World Cup viewing says Friday, Dec. 21 the final’s television audience was 516.6 million by the traditional measure of “global average in-home audience.” (AP Photo/Bob Edme, file)GENEVA  — More than 3.5 billion people viewed some of the 2018 World Cup action, with 1.12 billion watching at least one minute of France beating Croatia 4-2 in the final, according to FIFA.A FIFA-commissioned review of World Cup viewing published Friday said the television audience for the final was 516.6 million by the traditional measure of “global average in-home audience.” More watched on digital devices and out-of-home screenings in public spaces, bars and restaurants.ADVERTISEMENTlast_img read more