Deals a-plenty at fifth Brics summit

first_imgThe five leaders and their retinues take their places just before confirming the establishment of the Brics Development Bank. Indian prime minister Manmohan Singh reaffirmed his confidence in the work and purpose of the Brics group.(Images: Janine Erasmus)MEDIA CONTACTS• Brand South Africa +27 11 483 0122RELATED ARTICLES• Building revenue with beneficiation • Brics development bank underway?• Zuma: shared prosperity for all • SA to Brics: we’re ready for you Janine ErasmusThe second day of the fifth Brics summit saw a number of co-operation agreements signed between the attending heads of state in fields ranging from nuclear medicine and military technology to rail transport and the much-anticipated Brics bank.They included:• A multilateral agreement on green economy co-financing, which was signed by representatives of the Brics Inter-Bank Co-operation  Mechanism, which includes Jabu Moleketi, the chairman of the Development Bank of Southern Africa;• A multilateral agreement on infrastructure co-financing for Africa, also signed by representatives of the Inter-Bank Co-operation Mechanism;• The launch of the Brics Business Council, which was signed by representatives of the newly formed council. It’s chaired by South African mining tycoon Patrice Motsepe and is aimed at strengthening and promoting economic, trade, business and investment ties between the business communities of the five countries.The Brics Development Bank was the issue that had piqued the world’s curiosity, and it was confirmed by all five leaders at a plenary session on day two.“We considered that developing countries face challenges of infrastructure development due to insufficient long-term financing and foreign direct investment, especially investment in capital stock,” said President Jacob Zuma on behalf of the group.He said that the finance ministers had done an assessment in early 2012 on whether it was feasible to set up a bank, and that their report had satisfied the leaders that the establishment of the financial institution was viable.“We have agreed to establish the bank,” said Zuma. “The initial capital contribution to the bank should be substantial and will be sufficient for the bank to be effective in financing infrastructure.”He added that progress would be reviewed at the Brics group’s next meeting in September 2013.At the same time a few other new developments were announced, including the establishment of the Brics Think-Tanks Council, a body that will help with speeding up innovation; the launch of the Brics Joint Statistical Publication 2013; and the issuing of the eThekwini Declaration and eThekwini Action Plan.The declaration is a summary of the Brics countries’ common stance in key issues of global politics and economy, while the action plan provides a roadmap for Brics activity for the next 12 months, including areas of co-operation.The summit took place under the theme Brics and Africa: Partnership for Development, Integration and Industrialisation. Co-operation between developing powersNumerous other deals were concluded on day one. They included co-operation agreements between South Africa and China; South Africa and Russia; and Brazil and China.South African commercial transport company Transnet secured a deal with the China Development Bank which, say media sources, could be worth as much as US$5-billion. This loan will fund the revitalisation of rail networks around the region, used mainly for the transport of commodities such as iron and steel.Another deal was reached between South African defence equipment manufacturer Denel Aviation and Moscow-based Russian Helicopters. This will allow the state-owned Denel to officially operate a service and maintenance centre for the 600 or so Russian-built helicopters operating across the sub-Saharan region. Denel has years of experience in this field, and has designed and built its own attack helicopter, the Rooivalk.The centre has already been opened in Johannesburg.South Africa and Russia are also to work together in nuclear energy and nuclear medicine, particularly in the production of medical isotopes. South Africa is a major producer for the global market of molybdenum 99, which is a marker used in cancer diagnostic techniques.“Over the last five summits our forum has become more relevant,” said Indian prime minister Manmohan Singh. “We stand to benefit enormously from our collective strengths. We need to exploit our complementarities for mutual benefit and encourage more interaction between institutions in Brics countries to enhance the education, energy, IT, healthcare and other sectors.”Singh stated that economic development in the bloc should be made more broad-based and inclusive. This, he said, would also help to address instability in vulnerable parts of the world.“I would like to reaffirm the importance that India attaches to the work of the Brics group,” he said, “not just for our people but for the world at large.”Singh expressed his conviction that the Brics forum would reach new heights in the years to come.last_img read more

Xiaomi Mi LED TV 4A Pro 32-inch launched in India for Rs 12,999, will be available on March 7

first_imgXiaomi launched the Redmi Note 7 and the Redmi Note 7 Pro in India. Alongside the two phones, the company also launched a new Mi TV called the Mi LED TV 4A Pro 32-inch for Rs 12,999. This is the third Mi TV that Xiaomi has launched in India this year.In January Xiaomi launched 55-inch Mi TV 4X Pro and 43-inch Mi TV 4 Pro. The 55-inch Mi TV 4X Pro sells for Rs 39,999, while the 43-inch Mi TV 4 Pro comes for Rs 22,999. The Mi LED TV 4A Pro 32-inch will go on sale in India for the first time at 12 noon on March 7 across Flipkart, and Mi Home.The new Xiaomi Mi LED TV 4A Pro 32-inch comes packed with Ultra-bright HD Ready Display and 20W speaker. The Mi LED TV 4A Pro 32-inch like all other Mi TVs comes with PatchWall and Android TV support. The new Mi TV also comes with 7 lakh plus content, Chromecast inbuilt, and support for YouTube and Google Assistant like all other Mi TVs. The new Mi LED TV 4A Pro 32-inch is powered by the latest Amlogic 64-bit processor with 7th generation imaging engine and runs Android TV 8.1. Like all the previous Mi TVs the new Mi LED TV 4A Pro 32-inch also comes with Bluetooth remote.Xiaomi India has also launched Mi Sports Bluetooth Earphones Basic for a price tag of Rs 1,499. The Mi Sports Bluetooth Earphones Basic comes with a secure-fit design, and offers IPX4 splash & sweat proof, nine hours long battery life, dynamic bass, among others. The Mi Sports Bluetooth Earphones Basic also works with Google Assistant. The earphones are available for pre-orders starting today on Redmi Note 7 comes in three variants in India including 3GB RAM/32GB storage for Rs 9,999, 4GB RAM and 64GB storage for Rs 11,999. The Redmi Note 7 Pro also comes in three variants including 4GB RAM and 64GB storage for Rs 13,999, and 6GB RAM and 128GB storage for Rs 16,999. The Redmi Note 7 Pro will be available in India starting March 13 while the Redmi Note 7 will go on sale in India for the first time on March 6.ALSO READ | Xiaomi 55-inch Mi TV 4: Should you buy it?ALSO READ | Xiaomi 55-inch Mi TV 4: 4 key things to know before you buyALSO READ | Xiaomi 55-inch Mi TV 4 review: It’s an offer you can’t refuselast_img read more

20 days agoMan Utd boss Solskjaer forced to delete Twitter account

first_imgAbout the authorPaul VegasShare the loveHave your say Man Utd boss Solskjaer forced to delete Twitter accountby Paul Vegas20 days agoSend to a friendShare the loveManchester United boss Ole Gunnar Solskjaer has deleted his Twitter account.Solskjaer has left Twitter after being targeted by vicious trolls in the aftermath of Thursday’s dire goalless draw at AZ Alkmaar.According to reports the abuse forced the Norwegian, who used to manager Molde in his native Norway, to close his account, @olegs26_ole.Although it was not verified with a tick it had had a total of 124,000 followers, including a number of players including club captain Ashley Young.The biog read: “Dad of 3 fantastic kids, married to a wonderful wife and Manager of Molde FK, ex footballer.” This was accompanied by an image of him with Ryan Giggs. last_img read more

Cineplex lays off nearly 100 employees

first_imgThe layoffs come as Cineplex aims to reduce its expenses by about $25 million annually. (NATHAN DENETTE / THE CANADIAN PRESS FILE PHOTO) LEAVE A REPLY Cancel replyLog in to leave a comment Cineplex Inc. is laying off “a number of” full-time workers.The Toronto-based company’s spokesperson Sarah Van Lange is refusing to say exactly how many jobs are being cut, but says the layoffs will impact less than 100 employees.Lange says the cuts are part of a “small restructuring” happening at the entertainment giant. Advertisement Advertisement Login/Register With:last_img

Aecon Group joint venture wins Enbridge Line 3 replacement contract

first_imgTORONTO – Aecon Group Inc. says its joint venture with Robert B. Somerville Co. Ltd. has won a $282-million contract for a work on Enbridge Inc.’s Line 3 replacement project in Manitoba.The work includes constructing 92.2 kilometres of pipeline in the area of Brandon, Man., and 96.5 km of pipeline near Morden, Man.Construction is expected to start in August and be mostly completed by the end of the year.The joint venture recently completed work on the Line 3 replacement project in Saskatchewan.The replacement project is to restore Line 3’s capacity to 760,000 barrels per day, thus adding 375,000 bpd of export capacity into the United States when it comes on stream in late 2019 or early 2020.Enbridge has estimated the cost of the Canadian segment of the project at $5.3 billion, with an additional $3.8 billion for the U.S. segment.Companies in this story: (TSX:ARE, TSX:ENB)last_img read more

Starbucks to expand delivery in US China

first_imgNEW YORK — Starbucks is expanding delivery to more stores in the U.S. and China.The company says it will offer delivery from 2,000 U.S. stores by next summer through a partnership with UberEats. It isn’t yet saying which stores will offer it.In China, delivery will be offered from 2,000 stores in 30 cities by the end of this year, up from 150 stores at the end of September. Starbucks is partnering with delivery service in that country.Starbucks made the comments at an investor presentation Thursday in New York.Starbucks CEO Kevin Johnson says Starbucks has learned a lot about delivery since launching it in China in September. The company has special spill-proof cups, for example, and is making beverages hotter so they will be the right temperature to drink when they arrive.Dee-Ann Durbin, The Associated Presslast_img read more

Trafffic diverted due to IPL match and ShabeBarat

first_imgNEW DELHI: Traffic would be diverted near FerozShah Kotla ground during the IPL T-20 match between Delhi Capitals Vs Kings XI Punjab on Saturday.The religious function of Muslims Shab-e-Barat also falls on the same day hence necessary arrangements have been made on Delhi roads near the ground. The match starts from 8 pm to 11:30 pm on 20 April. Delhi Traffic Police has made elaborate traffic arrangements for parking of vehicles, traffic circulation, pedestrians’ movement and safety of the visitors in and around the Stadium. Spectators are advised to use metro facility to reach the Stadium; Delhi Gate Metro Station (Gate No. 4 & 5) is the nearest to reach the Stadium. ITO Metro Station (Gate No. 3, 4 & 5) can also be used to reach the Stadium. People are requested to avoid the following roads from 4 pm to 11.30 pm on the match day respectively when the spectators would be coming to the stadium and congestion is expected at Rajghat to J.L.N. Marg, J.L.N. Marg from R/A Kamla Market to Raj Ghat, Asaf Ali Road from Turkman Gate to Delhi Gate, B.S.Z. Marg from Ram Charan Agarwal Chowk to Delhi Gate. Display of car parking label on windscreen is mandatory. Vehicle number must be written on the parking label. Those who do not display parking label with vehicle number will not be allowed in the proximity of the stadium, police said. Spectators using app-based taxi and other taxis should use the service lane on Ring Road between I.P. flyover and Rajghat crossing for drop and pickup.last_img read more

Fabregas announced his will to stay at Chelsea amid AC Milan

first_imgAfter featuring in his fourth Europa League game this season, Cesc Fabregas has expressed his willingness to remain at Chelsea until the end of the seasonWith his current contract with the Blues set to run out next summer, the 31-year-old Spaniard will be able to negotiate a potential transfer already in January.Known for his exceptional passing abilities and great vision, Fabregas has imposed himself as one of Europe’s best deep-lying playmakers.The very fact he will become a free agent at the end of the season will surely attract interest from many clubs, with AC Milan already tried to secure his services earlier this month.Tammy Abraham, ChelseaChelsea hat-trick hero Tammy Abraham hopes for more Andrew Smyth – September 14, 2019 Tammy Abraham hopes this season will be his big breakthrough at Chelsea after firing his first hat-trick for the club in Saturday’s 5-2 win at Wolves.The Rossoneri would like to get their hands on Fabregas already in January, but this seems highly unlikely at this point.Ex-Barcelona star is poised to stay at Stamford Bridge according to the statement he gave to The Independent after Chelsea’s 4-0 win over PAOK.“At the moment I haven’t spoken to anyone,” he said.“Obviously from January, I can sign with whoever I want and probably this will attract many clubs but so far, from what I can say right now, I will stay here until the end of the season.”last_img read more