S&P indicated that the affirmation reflects the country’s prudent macroeconomic policies, moderate debt burden and stable political institutions. “The convergence of monetary and fiscal policy, as reflected in the recent interest rate cuts and fiscal expansion, are expected to soften the impact of the global economic crisis, while the massive infrastructure investment programme will ensure that South Africa’s economy grows even faster when the global economic cycle turns,” the Treasury said. “The affirmation of South Africa’s rating reflects confidence in our credit position and future policy direction, thanks in large part to a record of prudent execution of macroeconomic policies,” the Treasury said in a statement last week. Japanese rating Changed outlook Would you like to use this article in your publication or on your website? See: Using SAinfo material Ratings agency Standard & Poor’s (S&P) has affirmed South Africa’s long term rating at BBB+ and foreign currency issue rating at A+ with a negative outlook. S&P last upgraded South Africa in August 2005, and changed the outlook on South Africa’s credit to negative in November 2008 as a result of the global financial crisis. This follows an affirmation by Japan-based rating agency Ratings and Investment Information, earlier this month, of South Africa’s foreign currency issuer rating of A-, negative outlook, and domestic currency issuer rating at A, negative outlook. 22 June 2009 SAinfo reporter The National Treasury has welcomed the rating, particularly in the current economic climate, in which global ratings are dominated by rating downgrades.
What Nobody Teaches You About Getting Your Star… Tags:#predictions#startups tim devaney and tom stein Predicting the future is notoriously difficult, and the volatile world of high-tech startups don’t make things any easier. That’s why ReadWrite turned to famous and fearless tech prognosticator Paul Kedrosky, a senior fellow at the Kauffman Foundation, focused on entrepreneurship, innovation and the future of risk capital, to ask him his predictions for the startup world in 2013.Kedrosky shared six thoughtful insights about what the future is likely to bring. Most of them could be seen as warning signs, but there are some bright spots sprinkled in there as well.1. Accelerators Will Slow DownStartup accelerators were a big story in 2012. By the midpoint of the year there were more than 200 accelerators worldwide, attracting twice as many applicants as they did just two years ago. Recently, however, it’s become clear that most accelerators were not turning out viable companies. And now we’re seeing the first signs of an accelerator slowdown. Y Combinator, the world’s leading accelerator, cut its funding to $80,000 from $150,000 per company and reduced its next class to less than 50, down from 84 in the most recent group.“I think this will turn out to be the peak,” Kedrosky said, “But that does not mean things will tail off dramatically” because accelerators are relatively cheap to start. “This move by Y Combinator is significant… This was not a gut decision but one that was empirically driven by the quality of the incoming classes they were seeing. And what they saw happening with their outgoing classes and their propensity to raise funding.”2. The Enterprise Will Strike BackRevenue. What a concept. It took a few years – and a few thousand failed consumer internet startups – but investors have gone back to the basics and now demand that companies they fund have income, not just a lot of Web users or app downloads. That means more funding for startups targeting the enterprise in 2013, less funding for startups aimed at consumers.A related trend Kedrosky sees is the return of discipline. “You won’t see crazy valuations,” he says. “Discipline went out the window the last few years – and it comes back in 2013.”3. The Cash Gap Will Fix the Talent GapThe toughest job for startups in recent years was not pulling investment but attracting talented people. With funding freely available, companies launched right and left. Combine that with ever-present competition from high-paying tech giants like Facebook, Google and Twitter and you’ve created a severe talent shortage.Kedrosky predicts the talent gap will be closed in 2013. “I notice that good startups are now composed of a group of people who two or three years ago would have been out doing their own thing,” he said. “Now they’re happy to work as team that has a real chance of going somewhere. The reason for that is the cash trade. Cash now versus cash later. It’s generally accepted that cash later is going to be a lot harder to come by, whether it’s in the form of funding cash or exit cash.”4. Venture Capital Will ReboundEveryone’s talking about the coming Series A funding crunch. Kedrosky thinks it will be eased by the return to the venture market of big investors like pension funds. They’ve been staying away from venture funding after getting burned in the downturn – but they’re beginning to come back.“That’s been the story for the last six years, actually – Limited Partners (LPs) shying away from the asset class,” he said. “But I think this is the end of the venture market contraction. I think these LPs will stop cutting their commitment to venture funds because they see it as a lottery ticket in their portfolios. The rate of new venture partnerships getting funded will be the highest in a decade or more next year. As a result, that will change the dynamics in the market fairly materially.”5. Startup Ecosystems Will Go ExtinctCountries from Chile to Turkey have tried to cook up their own startup ecosystems in the past couple of years. Most have discovered just how difficult it is to make a Silicon Valley from scratch. You can’t simply choose a local geographic feature, attach the word “Silicon” and wait for the high-tech boom.“My feeling is that these efforts will prove to have been mis-timed to the market peak,” Kedrosky said. “I’m not optimistic about the success of these startup ecosystems and that will begin to show next year. Too often these first attempts are sheer mimicry of what’s happening in Silicon Valley. ‘Let’s do what the U.S. is doing but let’s do it years later.’ That’s not sustainable. It’s not the basis for building a fertile ecosystem.”The upside is that a lot of young people got their first taste of entrepreneuring and may very well be more successful the next time around. “This first wave will end badly,” Kedrosky says, “but they could go on in the future to do bigger and better things.”6. Big Data Will CrashBig data startups were a big deal in 2012. But the big data sector is in for a large letdown in 2013, Kedrosky predicted. “We’ve hit the end of that cycle. We’ll soon start to ask, ‘Why there were so many startups in big data and how come so many got funded?’ People will have post-funding regret in the space.”As clean-tech startups were revealed to be unsuccessful in 2012, Kedrosky forecasted 2013 will be the year that exposes big data startups. “It will be revealed that data alone is not enough for these companies to make money. In the past, the thinking was, ‘If I have enough eyeballs I can make money.’ That proved to be wrong. In the same way, just having the data will also prove to be wrong in terms of being able to make money… What really matters is having a paying customer.” China and America want the AI Prize Title: Who … Related Posts How to Get Started in China and Have Success How OKR’s Completely Transformed Our Culture
Calcutta Medical College and Hospital authorities have threatened to take legal action against the students on the ninth day of their hunger strike in the State capital’s premier medical institution.The acting principal of the college, Dr. Ramanuj Sinha, told the striking students on Wednesday that “legal actions will be initiated” if any of the students falls sick, claimed some students.“It is seriously unfortunate that the authorities are threatening us instead of addressing our grievances,” said Soumyadeep Roy, a third-year student.The ongoing protests are against the college authority’s decision to allocate an 11-storey boys’ hostel to newcomers when the senior students do not have proper accommodation.Four students had previously fallen seriously ill and had to be given medical attention. The students said that they will sit on a mass hunger strike soon.
Mario Goetze and Marco Reus will play a key role for Germany in the World CupGermany departs for the World Cup as one of the teams to beat despite having a relatively young squad.But because they made their international debuts early, many Germany players have dozens of national team games behind them.Here are five players to watch:PHILIPP LAHMCaptain since 2010, Philipp Lahm will be playing at his third World Cup and already has made 105 national team appearances.The 29-year-old Lahm helped Bayern Munich sweep the Champions League, Bundesliga and German Cup last season and was a major figure as the club recaptured the championship this year.As a defender, Lahm has been versatile, playing with equal success on the left or right flank, although he personally prefers the right side. He played both positions as necessary for both Bayern and the national team, until Bayern coach Pep Guardiola put him in the defensive midfield to fill a gap left by injuries.Lahm excelled again.Germany coach Joachim Loew says he might consider Lahm for that position as well, if needed.MANUEL NEUERBayern Munich goalkeeper Manuel Neuer is Germany’s uncontested No. 1.Neuer became the starting goalkeeper before the 2010 World Cup when Rene Adler hurt his shoulder, and has stayed there ever since.Neuer has conceded by far the fewest goals in the league, although that is also due to Bayern’s overall dominance. His main problem may be lack of action – he usually faces few shots in Bundesliga matches.That could explain why he is sometimes caught off-guard by long-distance shots. Neuer’s other weakness is a hesitancy in coming off the line.THOMAS MUELLERBayern Munich midfielder Thomas Mueller is another versatile player whose style of play makes him hard to figure out.Mueller can play on the flanks but he can also roam as a “false nine.” That’s where he is probably at his most dangerous.Relatively unknown internationally before the 2010 World Cup, Mueller made his name in South Africa, where he was the top scorer with five goals and three assists. He was also named the tournament’s best young player.Still only 24, Mueller is already a mature player, having won everything there was to win with Bayern in the past two seasons.Although his playing time has been somewhat reduced by Bayern coach Pep Guardiola’s rotations, Mueller is still the club’s best scorer after striker Mario Mandzukic.MARIO GOETZEMario Goetze is the product of Germany’s exemplary youth programs and has gone through all junior selections.A 22-year-old attacking midfielder, Goetze is considered the country’s most promising and exciting talent. He helped Borussia Dortmund win two consecutive Bundesliga championships, then stunned his childhood club by taking advantage of an opt-out clause in his contract to move to Bayern Munich.Goetze had an inconspicuous start in Bayern, missing the early part of the season because of an ankle injury. He was eased into the team by coach Pep Guardiola, and still often comes off the bench in a star-studded squad.Goetze’s pace, vision and dribbling skills, in addition to his scoring, have drawn comparisons to some of the game’s greats, such as Diego Maradona or Lionel Messi.The World Cup could be an occasion for Goetze to prove he is worthy of the praise.Germany coach Joachim Loew has indicated his might use Goetze as a “hanging nine” if his injured strikers don’t recover in time.MARCO REUSOnce dubbed “Rolls Reus” for his pace, Marco Reus was voted Germany’s player of the year at the end of the 2011-12 season, when he also left Borussia Moenchengladbach to return to childhood club Borussia Dortmund.Reus is a fast and goal-scoring midfielder who has tremendous pace with the ball. He is also a big threat from set pieces, with excellent shooting technique. He is able to shoot and score with both feet.Reus already has seven goals in 19 games for Germany. One of the leaders of his generation, Reus has a good understanding on the field with Mario Goetze from a common season in Dortmund and the pair of them could be Germany’s powerful weapon at the World Cup.
An agreement that Netflix will invest at least $500 million in original productions in Canada is set to be part of a long-awaited reboot of Canada’s cultural policy.Heritage Minister Melanie Joly will unveil the comprehensive overhaul Thursday that will look at everything from the CRTC to how best to sell and promote Canada’s creative work.The plan is being dubbed a “creative economic strategy” designed to both update the approach the government takes to encouraging Canadian content production and the laws and organizations which govern it.Getting companies like Netflix to play a bigger role financially is one of the government’s goals as traditional broadcasters have long complained about an uneven playing field.Some had hoped to see the policy force the U.S. giants to charge sales tax for their subscriptions or contribute to the same content funds as Canadian broadcasters.But a government source, not authorized to speak on the record, says Netflix has agreed to invest at least $500 million over the next five years in original productions here.The government is eager to see Facebook and Google do the same; the search engine giant did recently launch a dedicated Canadian content channel on YouTube.The goal is to make sure the government’s approach to Canadian content is not tied to arcane technology of the past, and is flexible enough to bolster content creators, be they musicians, artists, writers, architects or video game designers, while also helping them sell their wares abroad.The policy is the product of months of consultations and will plot a course for a review of the Broadcasting Act and Telecommunications Act, which was promised in the 2017 federal budget.Joly’s speech — scheduled to begin at noon ET Thursday at the Fairmont Chateau Laurier in downtown Ottawa, in the shadow of Parliament Hill — will cover three themes: investing in creators, helping their content get discovered and distributed and — a staple of any conversation on Canadian culture — a discussion on the future of public broadcasting.There are some other announcements likely, including more robust funding to help Canadian film, television and music producers find an audience. Some money was allocated to two programs in the 2016 budget, but the expectation is that they’ll be supported with additional funds.“As our economy changes in an information age, we need to support creative talent who will be critical in future economic growth,” said David Sparrow, president of ACTRA, the performers’ union.CBC president Hubert Lacroix said ensuring that all of the players chip in to develop Canada’s cultural content will be essential to the survival of Canada’s relatively small marketplace.“The levelling of the playing field, so that everyone … contributes to the ecosystem, is key,” Lacroix said. “We’re too small in this world to be doing this by ourselves.”