Credit rating cut is going to hurt

first_imgJanine Myburgh, president, Cape Chamber of Commerce and IndustryWhat ordinary South Africans need to do now is look at the down-to-earth effects of the credit rating downgrade and how junk status will hurt them in their everyday lives.Overseas investors will withdraw their money and the government will have to pay much higher interest rates to borrow money to service and repay its massive loans such as those which Eskom, SAA and other state-owned enterprises have built up. Interest rates will go up and the value of the rand will shrink.In plain language, this means that the value of our savings and pension funds will go down, and the monthly payments on our cars, home loans, credit cards and our medical schemes will go up.Everything we import like petrol, clothes, food and medicines will cost more. That will mean less money for food, clothes and school fees.If investment in the country dries up, there will be no new factories, no new jobs and the unemployment problem will get worse. It is the ordinary South African and the poor who will feel the pain. Businesses will have to work together to starve the captured institutions of funds and services until their boards and management positions are no longer occupied by people with tarnished reputations. There is a great deal we can do if we can find the courage. It may mean taking risks, but we have reached the stage where the biggest risk of all is not to take the risks.last_img read more

Ex-solicitor allowed to work in firm seven months after strike-off

first_imgA former solicitor has been allowed back to work inside a regulated law firm – less than seven months after he was struck off by the tribunal.The Solicitors Regulation Authority announced today it had granted permission to former personal injury specialist Geoffrey Hart to work at Coventry firm Kumari Hart Limited.Hart, who had been a solicitor for 21 years, will be employed as a marketing and administration assistant after his employment was approved by the regulator last month.He had been struck off by the Solicitors Disciplinary Tribunal in October after drafting a letter to help a client conceal the extent of a damages settlement from her husband. The letter, prompted by a request from his client, referred to her receiving £30,000 in damages when in fact she had secured £48,000. The sanction was agreed between Hart and the SRA and approved by the tribunal.Permission to return to the profession comes with a number of conditions. Hart’s work will be directly supervised by managing director Anu Hart, and in her absence he will not work in the office.Any proposed variation to Hart’s job description, duties, or arrangements as to his supervision must be notified to the SRA in advance of the change taking place and the variation requires permission from the regulator. The SRA will also keep approval and the condition attached to it under review.A struck-off solicitor returning to the regulated sector is rare but not unheard of. Any solicitor wishing to employ someone who has been struck off in connection with their practice must secure SRA approval, in according with the Solicitors Act 1974.In its decision notice, the regulator said: ‘The SRA is satisfied that the above employment will not put public confidence in the administration of justice and the provision of legal services or the interests of clients at risk.’Hart had submitted to the tribunal in October that he became ‘very emotional’ after learning his client had gone through tragic events in her personal life similar to those he was experiencing at the time, and he acted out of character in drafting the false letter. He made no attempt to conceal the letters and pressed his employer to recall the letter, which was not shown to the client’s husband or anyone else.last_img read more

Treat junior staff well – clients are watching, GC warns

first_imgPlease see the Gazette’s dedicated coronavirus page here >> The head of Vodafone’s legal team has warned firms against laying off junior lawyers and support staff in the wake of the pandemic, saying clients are scrutinising partners’ decisions.Rosemary Martin, group general counsel and company secretary for the telecom giant, said she was troubled by ‘very rapid moves’ at the start of lockdown to lay off junior lawyers, not to take on trainees and to furlough support staff.  *The Law Society is keeping the coronavirus situation under review and monitoring the advice it receives from the Foreign & Commonwealth Office and Public Health England. Find advice and updates here. Rosemary Martin: ‘troubled’ by decisions to lay off young solicitors‘From the outside it seemed to be being done very quickly, without clear communication as to why it was necessary, and without very clear communication that the partners were also, as leaders of their organisations, feeling the pain in their pockets too,’ she said during a webinar hosted by the International Bar Association.Martin stressed the need for good communication, warning firms not to ‘under estimate the amount clients are watching what you are doing’.Asked how law firms could improve their operations during the pandemic, Martin said more attention should be paid to non-lawyers.‘One of the reasons I left working in a law firm was that I felt very uncomfortable about the fact that…huge attention was paid to the partners, a lot of attention was paid to the associate lawyers, and hardly any attention was paid to the technology staff, the HR guys, the marketing people. They were clearly second-class citizens. And I felt very uncomfortable about that…In my experience, not enough attention is paid to those other parts of the business’.Earlier this month, trade union Legal Sector Workers United said firms across the legal sector have imposed the burden of Covid-19 disproportionately on the lowest paid, least secure members of staff, who often cannot work from home.In some cases, firms are furloughing employees, including administrative assistants and paralegals, and are refusing to top up their salaries to 100%. In other cases, agency contracts have been suspended meaning law firms are no longer responsible for how or whether staff are paid.last_img read more

A majority of South African tertiary students want to work abroad…

first_imgMore than half of students in South Africa are hoping to work abroad after graduating reports SABCAccording to The Expat Insider’s Inter Nations Survey conducted in 2015 the top three reasons why South Africans considered moving abroad were personal safety, the cost of living, and the economic or labour market.“A possible reason why students were inclined to move abroad following their graduation could be the current economic environment and the gloomy outlook for employment in South Africa.” Said Motshabi Nomvethe, Technical marketing specialist at PPSThe 2016 PPS Student Confidence Index (SCI) was conducted with over 1500 students studying professional specific degree such as engineering, medicine, law or accounting through questionnaires online, face to face on campus and via focus groups reports SABC.“The latest figures from the Stats SA Labour Force Survey indicate that an estimated 26.7% of South Africa’s population are unemployed. These figures could motivate students to seek employment opportunities abroad,” Nomvethe is quoted to sayNovemthe added that the gloomy news of the high numbers of South Africa’s future generation planning to immigrate for work overseas has a silver lining, since they can be encouraged to return home after wards with international expertise to put in back into the local economy.last_img read more

Caribbean economies to grow by 2.5 percent in 2016-World Bank

first_imgMoneyNewsRegional Caribbean economies to grow by 2.5 percent in 2016-World Bank by: – April 15, 2016 Tweet Sharing is caring! 64 Views   one comment Sharecenter_img The World Bank is forecasting 2.5 per cent growth for Caribbean countries in 2016.The projection is contained in the latest semi-annual report by the World Bank’s Chief Economist Officer for Latin America and the Caribbean.It says the Latin America and Caribbean region is expected to contract by zero point nine per cent in 2016.South America, which has borne the brunt of the fall in commodity prices and in Chinese growth, is expected to contract by more than two per cent this year.However, it says for Mexico, Central America and the Caribbean growth is expected to remain positive in 2016 coming in at 2.5 per cent.The World Bank explains that this is because these countries depend less on commodity exports and are more closely tied to the economic recovery in the United States.Meanwhile, the World Bank says while remittances to all developing countries edged up slightly in 2015, the Latin America and Caribbean region saw the most rapid growth rate in remittances in 2015.The Bank says the region’s 4.8 percent growth was due to the recovery in labour markets in the United States.And it says remittances are expected to reach US$69.3 billion this year, up fro US$66.7 billion last year.Overall, the World Bank said remittances to developing countries grew only marginally in 2015, as weak oil prices and other factors strained the earnings of international migrants and their ability to send money home to their families.The Jamaica Gleaner Share Sharelast_img read more

DAIC Conducts Impact Assessment of COVID-19 on Private Sector Employment and Revenue

first_imgBusinessCoronavirusLocalNews DAIC Conducts Impact Assessment of COVID-19 on Private Sector Employment and Revenue by: – April 20, 2020 Sharing is caring! Share Roseau, April 20, 2020 – In recognition of the significant and fluid impact of COVID-19 on employment and revenue, the Dominica Association of Industry and Commerce seeks to enhance support to its membership and the private sector during this critical time.Furthermore, the DAIC continues to advocate on behalf of its members and the business community with the Government of the Commonwealth of Dominica and other partners, including regional and international partners. Fundamental to this advocacy is timely and accurate data.DAIC encourages all its Members and the Private Sector of Dominica to participate in this confidential survey which will ensure optimal representation. DAIC values the insights shared and requests that all questions be completed on/before Tuesday, April 21st, 2020.The survey can be accessed via: additional information, please contact DAIC at or 1(767)235-1962. Sharecenter_img Tweet 61 Views   no discussions Sharelast_img read more

Ilongga finishes 3rd in Mayon Asian Triathlon

first_imgJacqui Rose Lamparero of Iloilo City seeks to improve her triathlon performance in future competitions. She finished third in the 2018 Mt. Mayon Asian Triathlon Confederation in Albay. PHOTO FROM JACQUI LAMPARERO FACEBOOK PAGE MANILA – Ilongga Jacqui Rose Lamparero continued to make waves. She finished third in the women’s juniors category of the 2018 Mt. Mayon Asian Triathlon Confederation from Aug. 10 to 12 in Legaspi City, Albay.The lloilo City native finished the 750-meter swim, 20-kilometer bike ride and 10-kilometer run event in 1:14:45 behind Karen Manayon (1:08.58) and Lauren Plaza (1:09.58).Lamparero, a student of Central Philippine University, said she was grateful with her third place finish and would strive further in training to improve her placing next year.“This is another great race for me. But it is still a long way to go,” Lamparero told Panay News. “This feat inspires me to further improve and pursue my goals in triathlon.” Prior to her third place finish in Albay, Lamparero finished sixth in the 2017 Subic Bay ASTC Triathlon with 1:18:02 clocking. She was the only Filipina in the Top 10.Lamparero also claimed the championship in the 2017 National Age Group Triathlon – Subic Bay Freeport Sprint Distance Event.Cebu’s Kim Remolino, meanwhile, ruled the Junior Elite clocking 1:00.02, beating Macao’s Chin Wa Wong (1:00.15) and Yiu Fung Ng (1:02.45).The 2018 Mt Mayon ASTC Triathlon Asian Cup was spearheaded by the Triathlon Association of the Philippines and Asian Triathlon Confederation under the supervision of the International Triathlon Union./PNlast_img read more

Argos Ranked 19th in Final AVCA Poll

first_img LEXINGTON, Ky. – The University of West Florida volleyball team is ranked 19th in this week’s American Volleyball Coaches’ Association Division II volleyball poll, it was announced today. The ranking is the highest mark of the season for the Argonauts.UWF finished the 2010 campaign with a 30-7 record, including a 15-1 mark against Gulf South Conference opponents. The Argonauts won their third consecutive GSC Championship and advanced to the Finals of the NCAA Division II South Regional, falling in five sets to the eventual National Runner-up, the University of Tampa.Led by GSC East Division Coach of the Year Melissa Wolter, UWF went a perfect 16-0 at home and reached the 30-win mark for just the second time in program history. Five Argonauts were named GSC East All-Conference performers, including East Division Player of the Year Katie Johnson and GSC Tournament Most Outstanding Player Chelsea Wilhoite. Johnson, Wilhoite and sophomore Anna Stoecklein were named Daktronics All-South Region 2nd Team members.FULL AVCA POLLPrint Friendly Version Photo by Jim Hogue Sharecenter_img Argos Ranked 19th in Final AVCA Polllast_img read more

CRAIC CR929, Kolaborasi Rusia dan Cina di Pasar Pesawat Wide-Body

first_imgCR929. Sumber: Pada akhir tahun 2018 kemarin, pihak Cina dan Rusia meluncurkan sebuah sebuah model pesawat baru yang mereka kembangkan berdua di dalam sebuah joint venture bernama China-Russia Commercial Aircraft International Corporation (CRAIC).Adapun pesawat wide-body long-haul jet ini sengaja dihadirkan untuk merebut ceruk pasar yang selama ini didominasi oleh manufaktur raksasa asal Negeri Paman Sam, Boeing dan Airbus dari Konsorsium Eropa Barat. Kendati masih berbentuk mockup, namun kehadiran pesawat ini cukup memberikan ‘teror’ terhadap pihak Amerika Serikat yang selama ini diketahui terlibat perang dagang dengan Cina.Baca Juga: Low Cost Carrier, Ubah Peta Pasar Penerbangan Dunia Dalam perhelatan Zhuhai AirShow 2018, CRAIC memamerkan pesawat penumpang CR929 yang rencananya akan terbang perdana (prototipe) pada tahun 2013. “Saat ini sedang dalam tahap desain awal dan kami juga dalam tahap pemilihan pemasok dan peralatan, yang diperkirakan akan selesai pada akhir 2019,” tutur Presiden dari United Aircraft Corporation (UAC), Yury Slyusar. Patut diketahui, CRAIC merupakan perusahaan gabungan antara Commercial Aircraft Corporation of China (COMAC) dan UAC yang berasal dari Rusia.Secara keseluruhan, CR929 ini, “Ini lebih mirip Airbus ketimbang Boeing,” kata seorang eksekutif senior Western aerospace.Sebenarnya, UAC dan COMAC telah mengumumkan niatan kedua negara ini untuk mengembangkan pesawat jet wide-body pada tahun 2014 silam, dan mereka baru memulai pengembangan program ini dalam skala penuh tiga tahun berselang dengan membentuk perusahaan patungan (joint venture) bernama China-Russia Commercial Aircraft International Corporation (CRAIC).Hingga November 2018 kemarin, CRAIC mengatakan bahwa mereka masih membuat proposal untuk pengadaan mesin pesawat dan instrumen pendaratan. Kepala desainer COMAC untuk program CR929, Chen Yingchun mengatakan bahwa perusahaan masih akan menyebarkan proposal untuk menyempurnakan program pengembangan pesawat ini kepada pemasok di seluruh dunia.Namun, sebagaimana yang dilansir dari laman, dirinya masih enggan berkomentar apakah perang dagang yang terjadi antara Cina dan AS akan mempengaruhi pilihan perusahaan.Sementara pada bulan Desember 2018 kemarin, Direktur Kerjasama Internasional di Otoritas Penerbangan Sipil Perancis, Bertrand de Lacombe, menuturkan bahwa beberapa firma asal Perancis akan turut ambil andil dalam pengembangan CR929.“Perancis tertarik untuk berpartisipasi dalam proyek (pengembangan pesawat CR929) bersama dengan Rusia dan China,” ujar Bertrand.Baca Juga: Yang Menarik dari Air China – Terobsesi Gunakan Pesawat Produksi Dalam NegeriLebih lanjut, Bertrand mengatakan bahwa sejumlah perusahaan asal Perancis yang terkait dengan pengembangan ini siap untuk mengikuti tender yang tengah dibuka oleh CRAIC. Kendati tidak secara rinci menyebutkan kontribusi apa yang akan diberika oleh pihak Perancis, namun Bertrand menekankan bahwa mereka dapat memberikan berbagai peluang, termasuk memproduksi mesin dan suku cadang utama lainnya. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Like this:Like Loading… RelatedKuartal Pertama 2022, Rusia dan Cina Terhubung via Jembatan Kereta Api13/08/2020In “Darat”Data Organisasi Perdagangan Inggris Tunjukkan Sektor Aviasi Global Tengah Melemah27/08/2019In “Featured”Airbus Duga Cina Jadi Dalang di Balik Insiden Serangan Cyber06/02/2019In “Darat”last_img read more

Percaya atau Tidak? Airbus A320 Lufthansa Dijual Rp429 Ribu!

first_imgBeberapa produk daur ulang pesawat A320-211 Lufthansa. Foto: Lufthansa Pesawat biasanya dibanderol dengan harga selangit. Syarat pembeliannya pun juga tidak mudah, terlebih untuk sebuah pesawat baru. Namun, apa jadinya bila sebuah pesawat dijual dengan harga hanya sekitar US$29 atau Rp429 Ribu (kurs Rp14.864)?Baca juga: Lufthansa Mutilasi Airbus A340-600 Menjadi Souvenir Unik nan ArtistikSimple Flying melaporkan, belum lama ini, sebuah pesawat A320 purna tugas milik Lufthansa dijual mulai kisaran $29-55. Hanya saja, harga semurah itu bukan untuk mendapatkan pesawat dalam kedaaan utuh, melainkan bagian-bagian kecil pesawat yang sudah dikonversi menjadi gantungan kunci. Ide untuk melucuti pesawat yang sudah purna tugas, termasuk A320, datang dari sebuah perusahaan asal Jerman. Melalui situs, perusahaan yang berbasis di Cologne, Jerman, itu selain hendak menyelamatkan lingkungan dengan menghindari penumpukan pesawat-pesawat bekas yang jumlahnya jutaan di dunia, mereka juga melihat minat tinggi para pecinta penerbangan untuk mengabadikan pesawat favoritnya sekalipun dalam bentuk yang lebih kecil.“Kami selalu memiliki emosi yang campur aduk. Di satu sisi, sangat menyedihkan melihat era ini berakhir setelah hanya 10 tahun. Di sisi lain, kami senang bahwa kami berhasil melestarikan bagian dari pesawat ikonik ini untuk semua penggemar penerbangan,” Vice President Aviation Tag, Tobias Richter.Gantungan kunci A320-211 Lufthansa. Foto: AviationtagSelain menjual gantungan kunci dari badan pesawat A320, perusahaan itu juga sudah lebih dahulu menjual berbagai gantungan kunci asli dari bagian badan pesawat beragam merek di dunia, mulai dari Airbus (A340, A320, A319, dan A380), Boeing (767, 757, 747, 737, dan 777), Antonov (AN-2), ATR, Cessna, Royal Air Force, Lockheed, Fokker, Douglas (DC-9 dan DC-3), hingga Piper.Pesawat Airbus A320-211 dengan nomor registrasi D-AIPA (MSN 69) diketahui mulai beroperasi pada Oktober 1989 lalu. Setelah 30 tahun beroperasi, A320 Lufthansa kemudian keluar dari layanan dan dikirim ke Sofia, Bulgaria pada Mei 2019. Di Sofia, pesawat, yang dinamai Buxtehude, diambil dari nama kota Jerman itu, menemui ajalnya. Namun, berkat ide konversi menjadi berbagai barang bernilai jual tinggi, pesawat tersebut akan tetap hidup, setidaknya sampai souvenir atau gantungan kunci yang terbuat darinya tetap disimpan baik-baik oleh para pemiliknya.Terlepas dari peran pihak ketiga dalam mengkonversi pesawat, sebetulnya, Lufthansa secara mandiri juga mempunyai semangat melakukan upcycling atau daur ulang pesawat menjadi barang bernilai tinggi.Baca juga: Percaya atau Tidak? Airbus A380 Dijual Rp415 Ribu!Bahkan, selain menjadikan gantungan kunci, bersama aviationtag, Lufthansa juga mendorong terciptanya berbagai produk lain dari A320 D-AIPA, seperti meja yang terbuat dari wingtip, freestanding bar yang terbuat dari pintu pesawat, hingga penyimpanan bir di dinding yang terbuat dari jendela pesawat, serta banyak lagi produk-produk lainnya.Berbagai produk hasil konversi dari A320 D-AIPA itu dilepas bersamaan dengan pameran Upcycling Collection 2.0 Lufthansa. 2.0 menandakan bahwa gelaran tersebut merupakan tahun kedua, setelah sebelumnya pameran yang sama juga dilakukan tahun lalu. Namun, tahun ini, Lufthansa banyak membuat perbedaan, termasuk menjual seluruh bagian suku cadang pesawat.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Like this:Like Loading… RelatedPercaya atau Tidak? Airbus A380 Dijual Rp415 Ribu!18/02/2020In “Destinasi Udara”Boeing 747 Cathay Pacific Legendaris Dijual Rp525 Ribu! Tidak Percaya?03/09/2020In “Featured”Akibat Virus Corona, Harga Airbus A380 Bekas Turun Drastis19/03/2020In “Destinasi Udara”last_img read more