Published on August 29, 2016 at 10:48 am Contact Matt: [email protected] | @matt_schneidman Related Stories THE SPREAD: From Texas to Syracuse, Dino Babers brings the Baylor-style offenseSyracuse football roster updates: Trey Dunkelberger back to TE, Scoop Bradshaw to WR and moreSyracuse football training camp blog: Devin Butler switches numbers, Kenneth Ruff catches passes again and moreSyracuse football quarterback Zack Mahoney earns scholarshipJamal Custis working on filling out frame and potential in 2016 Comments Facebook Twitter Google+ Syracuse released its Week 1 depth chart Monday morning, four days before the Orange opens the regular season against Colgate at 7 p.m. in the Carrier Dome.Here are some of the most significant notes on the first pecking order released by SU since April 21.— True freshman Kendall Coleman is starting at defensive end opposite redshirt sophomore Chris Slayton. Coleman is the only true freshman on the first team and Slayton, at 296 pounds, moves from defensive tackle to defensive end where he’s listed above nicked-up redshirt freshman Jake Pickard.— Maryland grad transfer Amba Etta-Tawo is starting at wide receiver opposite incumbent starter Steve Ishmael. Etta-Tawo is listed in front of redshirt senior Alvin Cornelius.— Sophomore Cody Conway will start at left tackle after beating out Michael Lasker for the spot in training camp. Lasker is actually listed as the backup right tackle, while redshirt junior Jon Burton is behind Conway.AdvertisementThis is placeholder text— Sophomore Dontae Strickland, who played the hybrid in Tim Lester’s offense last season, is listed as the first-string running back ahead of Jordan Fredericks. Fredericks finished the season as the starter last year and has worked to drop his weight closer to 200 pounds, but Strickland gets the nod against Colgate.Other notes— Junior Jonathan Thomas will start at strong-side linebacker ahead of Ted Taylor.— Ervin Philips will return kicks and Brisly Estime will return punts.— Redshirt freshman Sterling Hofrichter takes over for Riley Dixon as Syracuse’s punter
John Calipari had a rough day on Saturday.Not only did his Kentucky Wildcats blow a seven-point lead in the final 2:56 against Tennessee in the SEC semifinals, but the coach had some rather interesting interactions with the officials. Less than five minutes into the game, Wildcats stars PJ Washington and Reid Travis each picked up early fouls, prompting a back-and-forth between Calipari and official Doug Show.Keep an eye on this: both PJ and Reid have a foul with 15:21 to go in the half. A quick whistle on one of them in the next few minutes would be problematic.These teams are a combined 9 of 14 shooting with zero turnovers. Fun, fun, fun.— Kyle Tucker (@KyleTucker_ATH) March 16, 2019SEC TOURNAMENT: TV schedule, scores, how to live-streamA minute later, Washington was handed a Flagrant 1 foul. Things between Calipari and Show only escalated as The Athletic’s Kyle Tucker reported the Kentucky coach went “BERSERK” and apparently screamed, “If you want to throw me out, throw me out!” John Calipari is absolutely getting T’d up in this game. He’s going BERSERK on Shows.— Kyle Tucker (@KyleTucker_ATH) March 16, 2019Lip readers, was that Cal screaming, “If you want to throw me out, throw me out!” ???— Kyle Tucker (@KyleTucker_ATH) March 16, 2019A vocal Calipari is nothing new, but when Travis was tied up with over nine minutes left in the first half and UK leading 20-16, and a held ball was called instead of what Cal thought was a foul, he broke out a rather strange yoga position in protest.Lord give me the strength to deal with these refs today. pic.twitter.com/hToSXFyuFw— Not Scott Charlton (@Scott_Charlton2) March 16, 2019Looks like some new kind of yoga Calipari has going here pic.twitter.com/jKf5AHutvp— Eric Crawford (@ericcrawford) March 16, 2019All of #BBN pic.twitter.com/N9fyPNnHcX— Kentucky Basketball (@KentuckyMBB) March 16, 2019For like ten seconds, he did this. pic.twitter.com/ZExHDzlLj6— Tyler Thompson (@MrsTylerKSR) March 16, 2019My new favorite Calipari moment #BBNGot a “bench warning” for this pic.twitter.com/NMcRmxdeEI— KY Insider (@KyInsider) March 16, 2019Calipari received a bench warning. Tennessee ultimately earned an 82-78 win and secured a date with Auburn in the SEC final, spoiling the Wildcats’ chances of a top NCAA Tournament seed.Not a great day for Wildcats fans, but at least they know Calipari isn’t too old to still get limber.
Tusker had broken the deadlock through David Majak before David Odhiambo equalized for Zoo.The result takes Zoo to within two points of 15th placed Chemelil Sugar with two rounds of matches to go and they will now look to win both games and hope Chemelil drop points in one of their two.The home side broke the deadlock in the 17th minute when Majak picked the ball inside the box after Faraj Ominde had flicked him through before slamming the ball oast the keeper.Before that, the Brewers had some half chances, first Hillary Wandera’s volley from the edge of the box going wide before Boniface Muchiri shot straight at the keeper from range.In the 36th minute Tusker had a chance when Majak out Jackson Macharia through but the latter’s shot was turned behind for a corner by the keeper.Zoo drew level just two minutes later when Kevin Omondi curled the ball to the top left corner after being out through on goal by Ernest Kipkoech.Almost immediately, Zoo had another glorious opportunity that should have ended in the back of the net when Kiokoech’s point blank cross fell on Derrick Amani whose point blank shot attracted a brilliant one on one save from Robert Mboya.Zoo Kericho midfielder Geoffrey Gichana clears the ball under pressure from Tusker FC’s Jackson Macharia during a Kenyan Premier League match at the Ruaraka Complex in Nairobi on May 23, 2019. PHOTO/Timothy OlobuluIn a quick turn around with the heavens opening up, Tusker came inches close to restoring their lead off a counter but Wafula’s point blank effort was saved by keeper Martin Elung’at.The pouring rain made the pitch heavy and the pace if the game hugely died down.At the start of the second half. Robert Matano made changes to his midfield, Peter Nzuki and Jackson Macharia coming off for David Naftali and Timothy Otieno.With the slippery nature of the pitch, it was difficult to play the ball on the ground and both teams resorted to playing in high balls and dumping them into the opponent’s box.Off one of these moves, Zoo had a chance after 72 minutes when keeper Mboya made a brilliant double save to deny Chetambe. The midfielder picked up the ball at the edge of the six yard box, shot at goal and his effort was blocked.He picked up the ball on the second bite of the cherry and saw that effort blocked as well.Omondi was using his height and ball control superbly, his hold up play when Zoo were on the offensive being on point. However, they could not finish the job in the final third.The brewers them took the lead with 13 minutes left when Muchiri stood over a freekick from 30 yards out before curling it beyond the wall and past keeper Elung’at.Despite going down, Zoo showed some fighting spirit as they continued knocking on the Tusker door. Three minutes to go, they won a freekick from range and Chetambe stood over it, sending it to the top right corner of Mboya’s goal.There would have been late drama in the game when Omondi had a chance off another looped ball, but his shot was blocked by Eugene Asike.0Shares0000(Visited 5 times, 1 visits today) 0Shares0000Zoo Kericho midfielder Danson Chetambe vies for the ball with Tusker FC’s Boniface Muchiri during a Kenyan Premier League match at the Ruaraka Complex in Nairobi on May 23, 2019. PHOTO/Timothy OlobuluNAIROBI, Kenya, May 23 – Danson Chetambe curled in a brilliant freekick three minutes from time to hand Zoo Kericho a massive point in the race to survive Kenyan Premier League relegation, scoring the equalizer in their 2-2 draw with Tusker FC at the Ruaraka Complex on Thursday.Boniface Muchiri had given Tusker the lead with another beauty of a freekick at a rain drenched Ruaraka before Chetambe replied with a beauty of his own.
TORRANCE – A man who was linked through DNA testing to the rape of a woman during a burglary at her Hawthorne apartment was sentenced today to 109 years plus two life terms in state prison. Torrance Superior Court Judge Eric Taylor denied the defense’s request for a new trial for Steven Lee Myrick, 41, who was convicted Oct. 2 of rape and residential burglary. Myrick was arrested in March 2006, after DNA test results linked him to the June 18, 2000, attack in which the victim was blindfolded. He had been ordered to submit his DNA after being convicted of “mooning” Los Angeles police officers at a gang rally about two years ago, according to Deputy District Attorney Jodi Link. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREStriving toward a more perfect me: Doug McIntyre Myrick had prior convictions for various offenses, including robbery and attempted robbery, the prosecutor said. ———————————— For the latest news and observations on crime in Los Angeles and the San Fernando Valley, check out the Daily News’ crime blog by clicking here. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!
Scientists and entrepreneurs can’t get enough of the design solutions found in the living world.Snake-bots: PhysOrg wrote about “Flexible snake armor: Biology could inspire systems in engineering with minimized abrasion.” Snakes slither on all kinds of surfaces; their skin, therefore, is optimized to handle friction. Scientists at Kiel University looked at electron micrographs of snake skin cross-sections and found a gradient of stiff to flexible cells from outside to inside. “A material that has a transition from a stiff outside to a flexible inside can distribute an impacting force over a larger area, therefore decreasing the force on one single point,” a researcher explained. “Materials like this are like a flexible amour.” How could imitating this structure help humans? “Possible application areas can be found in the medical engineering sector, in which friction could for instance be optimized for artificial implants,” the article said. “Furthermore, the propulsion and conveyer technique market could profit from the abrasion minimization findings, since lubrication would have to be implicated less often.” Research on the mechanical properties of snake skin is “extremely new,” the spokesperson said.Worm-bots: The pulsing action used by earthworms and snails, called peristalsis, has inspired another soft robot named “Meshworm” by its inventors. “Now researchers at MIT, Harvard University and Seoul National University have engineered a soft autonomous robot that moves via peristalsis, crawling across surfaces by contracting segments of its body, much like an earthworm,” a report on Science Daily says. “The robot, made almost entirely of soft materials, is remarkably resilient: Even when stepped upon or bludgeoned with a hammer, the robot is able to inch away, unscathed.” Faced with challenges of building artificial muscles and soft actuators, the team “looked to the earthworm for design guidance.” The article explains how they did it. A softbot using peristalsis would be useful for getting into tight places. Have they thought about just training earthworms?Gecko tape update: The climbing ability of geckos with dry feet has been well studied, but how do they perform when wet? The BBC News and Science Daily revealed the secret: they trap air bubbles between the tiny hairs on the toe pads that cling to surfaces. Tokay geckos live in tropical rainforests where wetness is a problem. In natural circumstances, the geckos do fairly well in wet weather, but in the lab, when the toes were soaked, they lost adhesion. Researchers at the University of Akron hope to use what they are learning to develop a “gecko tape” that works on both wet and dry surfaces. The BBC article also discussed research in Japan with beetles that can walk underwater. The beetles use capillary action of an oily secretion to do the trick. “Inspired by this, the team created an artificial structure from silicone to mimic the adhesion and were able to successfully stick a plastic toy bulldozer to the bottom of a fish tank.”Bamboo construction: The wood of bamboo decays in UV light and has poor fire resistance; otherwise, it has desirable properties for construction, PhysOrgs aid in “Bamboo: The new super construction material.” Those properties are its fast growth and a strength like steel. If they can overcome the undesirable properties, researchers at the University of Bath believe bamboo holds promise. They are experimenting with composites that boost its UV and fire resistance. “Possible applications of the resulting novel composites developed through this research programme include incorporation in architectural structures, particularly in critical areas such as joints and load bearing elements of buildings.”Octobot camouflage: “…inspired by the squid and octopus,” PhysOrg wrote, Harvard scientists have “devised a rubbery robot … which can crawl, camouflage itself and hide from infrared cameras.” With “dynamic coloration,” this robot could someday help surgeons and search-and-rescue teams. “One of the fascinating characteristics of these animals,” a researcher said, “is their ability to control their appearance, and that inspired us to take this idea further and explore dynamic coloration.” Just as the animals can hide from predators or signal friends, the new robots could camouflage themselves or signal their positions to other robots. The progress was reported in Science Magazine (Morin et al., “Camouflage and Display for Soft Machines,” Science 7 August 2012: Vol. 337 no. 6096 pp. 828-832, DOI: 10.1126/science.1222149). The paper begins, “Synthetic systems cannot easily mimic the color-changing abilities of animals such as cephalopods.” They hope their soft-bots can mimic some of the functions, if not the anatomy, of squid and octopus.Flower power: How to get more energy from sunlight? Follow the sun, like sunflowers do. “A field of young sunflowers will slowly rotate from east to west during the course of a sunny day, each leaf seeking out as much sunlight as possible as the sun moves across the sky through an adaptation called heliotropism,” began an article on PhysOrg. It’s a clever bit of natural engineering that inspired imitation from a UW-Madison electrical and computer engineer, who has found a way to mimic the passive heliotropism seen in sunflowers for use in the next crop of solar power systems.” The article includes a video clip about Hongrui Jiang’s invention using passive heliotropism that improved solar panel light harvesting by 10%. “But eventually, Jiang hopes to see huge industrial solar farms where fields of photovoltaic solar panels shift effortlessly along with the sunflowers that inspired him,” because “This is exactly what nature does.”Ultimate hard drive: Science Now called DNA the “ultimate hard drive” for information storage. How about some “wow” stats? “When it comes to storing information, hard drives don’t hold a candle to DNA,” John Bohannon wrote. “Our genetic code packs billions of gigabytes into a single gram. A mere milligram of the molecule could encode the complete text of every book in the Library of Congress and have plenty of room to spare.” He reported, “researchers stored an entire genetics textbook in less than a picogram of DNA—one trillionth of a gram—an advance that could revolutionize our ability to save data.” It’s not practical for personal computers yet, but just wait; an engineer at the Craig Venter Institute said, “the field is moving fast and the technology will soon be cheaper, faster, and smaller.” Synthetic DNA – no cells required – has been put on rewritable devices: “an inkjet printer embeds short fragments of chemically synthesized DNA onto the surface of a tiny glass chip.” The researchers boast, “DNA chips are now the storage medium with the highest known information density.” New Scientist’s coverage of this achievement added even more “wow” factoids about DNA:DNA is one of the most dense and stable media for storing information known. In theory, DNA can encode two bits per nucleotide. That’s 455 exabytes – roughly the capacity of 100 billion DVDs – per gram of single-stranded DNA, making it five or six orders denser than currently available digital media, such as flash memory. Information stored in DNA can also be read thousands of years after it was first laid down.Researcher George Church even wrote his latest book in DNA, illustrations and all, said Science Daily. Another good thing about DNA encoding is that the molecule is stable at room temperature.Fixing what happens: This is not exactly a biomimetics story, but it deals with a biological reality which, if handled better, would hold great promise for world health. The Bill and Melinda Gates Foundation, according to PhysOrg, sponsored a “Reinvent the Toilet Challenge” since much of the world lacks access to good sanitation (see YouTube video about the challenge). Cranfield University, one of the competitors, has come up with a human-powered device that extracts the water from refuse and concentrates it into briquets that can be used for fuel or fertilizer – and it’s not just for poor countries, too. The sanitary reapplication of digestive waste could go a long way to conserving water and preventing disease. As side benefits, new sources of energy and even fresh water could result when nature calls.The BBC News joked that Gates is flushing his money down the toilet, but quickly explained that the initiative could prevent many deaths: for example, 1.5 million children die each year from diarrheal disease. “The project challenged inventors to come up with a toilet that operated without running water, electricity or a septic system. It needed to operate at a cost of no more than five cents (3p) a day and would ideally capture energy or other resources.” In a short video clip in the article, Gates described problems with current toilet designs. “Traditional flush toilets waste tons of drinking water and are often impractical in many areas of the developing world.” They use, in fact, 10 times more water than people drink. At a recent Reinvent the Toilet Fair, “In total 28 designs were shown off at the fair and the winner was a team from the California Institute of Technology” (see picture at Bill and Melinda Gates Foundation website). “Led by Prof Michael Hoffman, the toilet they designed was solar-powered and generated hydrogen gas and electricity. They won a $100,000 prize.”Isn’t it refreshing to see science done for human good and environmental stewardship? Evolution was almost a no-show in these stories, just appearing in bit parts with no speeches. The Bill Gates challenge story is also a lesson about how wealth creation through capitalism can benefit the poorest of the poor. Gates built his fortune without government or U.N. help, starting in a garage. His mega-company, Microsoft, created thousands of jobs and made computing easier for the entire civilized world. Now, through some of the wealth created (not stolen from the poor), he is encouraging engineers to save millions of lives and promote environmental stewardship with a simple challenge that is long overdue: doing better with doo. Leftist redistributionist Marxists, are you paying attention? What has Darwin crap done for the world lately? (Visited 27 times, 1 visits today)FacebookTwitterPinterestSave分享0
24 July 2002The era of “medical tourism” has arrived, and South Africa appears to be cornering the market. Attracted by the country’s world-class surgeons, spectacular tourist destinations and favourable exchange rate, foreigners are flocking here for affordable operations and luxurious post-operative holidays.Cosmetic surgery is still the major drawcard, but there is now a growing demand for other surgical procedures, including major operations like heart bypass surgery, hip and knee surgery and dentistry.Both the SA Dentists Association and Cape Town Tourism describe “dental tourism” as a growing phenomenon, and Netcare International says it frequently brings out European patients for major surgery.The Western Cape health department was recently approached by the United Kingdom’s National Health Service with a request for its top teaching hospitals to conduct major operations like bypass surgery on its own queues of waiting patients.The hospitals, including Groote Schuur and Tygerberg, claim they have the capacity to take on the British patients, and say they will plough the profits back into areas of need here. But British law, which only allows NHS patients to be treated in the European Union, will have to be changed before this patient exchange can go ahead.Meanwhile, nothing stands in the way of foreigners who are paying their own medical bills. Keen to cash in on high-quality cosmetic surgery at relatively low cost, they are coming in droves.Some companies offer package deals that incorporate cosmetic surgery, post-operative care in a five-star hotel and a holiday – either before or after the operation. In most cases these packages are cheaper for foreigners than the cost of the operations alone in their home countries.Surgeon and SafariThe most successful of these ventures so far is Surgeon and Safari, a young business that has attracted extensive media coverage in the international press. Time, Newsweek, The Washington Post, Reuters, The Independent, BBC Online, American National Public Radio, CNN, Harpers and Queen – to name a few – have all covered Surgeon and Safari’s astounding, almost overnight, success.Lorraine Melvill, who heads up Surgeon and Safari, has been asked to address business conferences to divulge her secrets. Melvill jokes that she had to quickly scribble something down in the absence of any grand marketing or business plan.She attributes some of her success to: her ground-level approach – communicating directly with clients, doctors, nurses and hotel staff ; catering to the individual needs of each client; and a user-friendly website (most of the planning and administration occurs online).Given the trend towards niche markets in the tourism industry, Melvill realised she could harness the unusual synergy between the demand for tourism, on the one hand, and for cosmetic surgery that is affordable, high-quality and offers the client anonymity, on the other.Melvill was fuelled by a desire to break away from the negativity plaguing many South Africans who fail to see what spectacular products the country has to offer. “Look at our surgeons. They are world-class.”South African doctors have had the privelege of years of hands-on experience in hospitals like Chris Hani Baragwanath, the largest hospital in the southern hemisphere. Melvill believes they are academically sound and tend to be conservative. “They may not always have the latest techniques, but newest doesn’t always mean best”, says Melvill.Judging by her flourishing business (she is bringing in 20 to 30 people a month, and the figure is escalating), her clients are satisfied with the results of their procedures – from breast augmentation to face lifts, nasal reconstruction, liposuction and tummy tucks – as well as their time spent recuperating in a luxurious hotel and visiting tourist attractions.Most (90%) of Melvill’s clients undergo cosmetic surgery, with half from the United States and the other half from the United Kingdom. While clients from the UK tend to opt for reconstructive surgery and are more conservative about how many procedures they will undergo, their American counterparts “come with a shopping list”, jokes Melvill.She believes the impact of her business on the country’s tourism industry in general is enormous. People who visit – usually newcomers to South Africa – are unaware at first of the treasures the country has to offer, in particular “the first-world service and hospitality at third-world prices”. They return again and again, says Melvill.Surgeon and Safari offers personalised programmes to its clients: it facilitates online and face-to-face consultations with registered surgeons selected by Melvill (some of whom visit the United Kingdom periodically for initial and follow-up consultations); meets clients at the airport, and then puts them up at either The Westcliff Hotel in Johannesburg or Mount Nelson Hotel in Cape Town (both owned by the Orient Express Group) for one-to-two week recovery periods.Each client is assigned a personal assistant to give them all the support they need and arrange their outings and post- or pre-operative holidays. During their recuperation, patients are visited by body care clinicians for massages and other treatments to speed up the healing process.Melvill’s business is not without risk – “All surgery is high risk. But we are dealing with elective surgery. People have to take responsibility for a procedure they elect to undergo. This is not about computer-generated, before-and-after pictures. This is about human hands, the work of an artist, on one’s body.”Surgeons will not automatically operate on everyone wanting to submit to the knife. People who are anorexic, obese or mentally unstable, for example, will be turned away, says Melvill.Since the surgery is conducted in South Africa, doctors are bound by our laws, not the more litigious-friendly laws of the United States.AfrisurgeJo Brink is the director of another company, Afrisurge, which offers a similar service for clients wanting cosmetic surgery. However, she also caters to a growing demand from people keen to visit headache, dental and eye clinics.Brink offers three different accommodation options to clients: self-catering flats, bed and breakfast, and top hotels. She also organises golf safaris for husbands accompanying their wives. Most of her clients are women in their 40s and older, wanting face lifts and breast operations.Brink believes South Africa’s reputation for some of the world’s best plastic surgeons dates back to Dr Jack Penn, “the doyen of plastic surgery”, who opened the Brenthurst clinic in Johannesburg in 1941 to help victims of the Second World War. Many Europeans disfigured by the war, came to South Africa for the brilliant reconstructive surgery he performed.Brink claims that foreign patients these days occupy half the beds in plastic surgery wards in some of the country’s top private clinics.MediscapesNewest kid on the block is Mediscapes, a Cape-Town based medical tourism business that offers a wide spectrum of medical specialists, post-operative treatments, luxury accommodation and tours to other parts of the country.Blood transfusions, cardiology, addiction treatment, cosmetic surgery, gastrointestinal and infertility treatments are some of the many procedures on offer.Says Mediscapes MD Peter Ordway: “Each client’s needs are different, so we adopt a completely personalised approach. We work extremely closely with each individual client, providing tailor-made packages to address their unique needs and, at the same time, we guarantee their personal safety and privacy.”
QANTAS is worth $A22 billion to Australia and generates almost 60,000 jobs, according to a newly released report that highlights the economic value of airlines to local economies.The airline-commissioned study found the Qantas Group’s direct and indirect economic impact totalled $A11.5 billion, or 0.7 per cent of Australian GDP, but it also facilitated $A10.4 billion in additional value through the tourism spending of its passengers.The airline’s contribution to GDP was bigger than many industries and about a third of the direct contribution made by coal mining, the report said.The airline group directly and indirectly supported almost 60,000 jobs, more than 29,000 employed by the group itself and another 29,535 employed indirectly as a result of its operations.The report’s authors estimated that one in eight tourism jobs were attributable to the spending of passengers on Qantas Group airlines.“In addition to the contribution generated by its operations, the Qantas Group plays an instrumental role in supporting tourism in Australia, both through facilitating air travel by domestic and international passengers and through marketing Australian tourism destinations to domestic and international consumers,’’ the report said.“In particular, the extensive network operated by the Qantas Group plays a pivotal role in allowing tourists to access many regional destinations throughout Australia.”A breakdown of states showed New South Wales and the Australian Capital Territory , which account 29 per cent of group passenger departures, were the biggest beneficiaries with a direct and indirect economic contribution of $A4.2 billion. NSW is also the site of the Qantas headquarters.Victoria, the headquarters of Jetstar, come next at $A2.8 billion followed by Queensland ($A2.5bn) Western Australia ($1bn), South Australia ($538m) Tasmania ($A185m) and the Northern Territory ($156m).In terms of business units, Qantas was the biggest contributor with a direct economic contribution of $5.2 billion and indirect contribution of $A3.45 billion. Jetstar added another $A1.35 billion in direct and $A942 billion in indirect contributions, followed by Qantas Freight with $237 million direct and $298 million indirect.The airline also released a report of its tax payments for the 2015 and 2016 financial years, showing it paid $SA2.5 billion in tax during 2015-16 and $A2.3 billion in 2014-15.But the airline did not pay company tax due to previous losses and a write-down of the value of its aircraft fleet in 2014.“Qantas continues to work through accumulated tax losses – including from its record financial loss in 2014 – meaning it’s not currently required to pay company tax,’’ it said. “However, its overall tax contribution is spread widely across a range of categories, including ticket taxes, payroll tax, fuel excise and the GST.“Company tax payments will resume once Qantas’ tax losses have been used up, in accordance with tax law, resulting in an even more significant contribution to public finances and the Australian economy.”
Mumbai: Venture capital/private equity investments doubled in March to $7 billion on an annualised basis, boosted by a spurt in large transactions, says a report. Exits during the month were 34 percent lower at $465 million involving 13 transactions, a report by consultancy firm EY said Thursday. March was the best month ever for private equity (PE) and venture capital (VC ) investments, it said, adding that the $7-billion mark in the month was more than Also Read – Thermal coal import may surpass 200 MT this fiscaldouble of $3 billion in the previous year and over 30 percent higher than the previous high of $5.4 billion clocked in August 2017. Thirteen large deals of $100 million-plus adding up to $6 billion helped boost the numbers, and Brookfields $1.9 billion buyout of Reliance Industries Ltd (RIL’s) East-West Pipeline was the largest deal during the month. On the back of a busy March, the March quarter has emerged as the best ever quarter for private equity/ venture capital investments, with investments worth $11.4 billion, up 37 percent over the same period a year ago. The month also recorded highest monthly value and number of buyout deals, aggregating at $2.8 billion across seven deals. Private investment in public equity investments rose to $1.9 billion, but massivley down from $3 billion a year ago. From a fund raising perspective, the firepower plunged to a low $40 million in March from $1.1 billion a year ago.
India is an oil import-dependent nation. Over 90 per cent of the oil requirement is met via import. India is the third biggest importer of crude oil in the world. Despite these factors, India is not feared to undergo oil convulsion with USA withdrawing waiver over the sanction on Iran oil from May. Except concerns by vehicle users, analysts and politicians preferred to remain mute on any major impact on the Indian economy, even though the waiver was made amidst the general election. With the end of the waiver, crude oil prices will soar in the world market. This is because Iran is the fourth largest producer of crude oil in the world. Furthermore, global oil consumption exceeds global production. Also Read – Hijacking Bapu’s legacyGiven these situations, sanction on Iran oil will certainly impact India’s basket prices of imported crude. This will have a cascading impact on petrol and diesel prices. Eventually, a general fear looms large that the hikes in oil prices will fuel inflation in the country. However, there is another school of thought, which argued that the concern would be minimised owing to technological innovations and structural changes in oil use. It believes that India is insulated from any major impact of the sanction, despite it being an oil import-dependent nation. Also Read – The future is here!Basically, there are four reasons, according to this line of thought, which will help India insulate itself from the adverse impact of a global oil price hike. First, the parallel relation between oil price hike and inflation has tapered. Secondly, oil is not the main source of energy for manufacturing. Third, a big burden of crude oil import is counterbalanced by the export of petroleum refinery products. Lastly, the share of Iranian oil in India’s total imports of oil is not substantial. Conventional wisdom says that there is a close relationship between oil price and inflation. Whenever there was a global oil price hike, which was reflected in the high petrol and diesel prices in India, inflation surged. Nevertheless, the parallel relation between oil price and inflation witnessed a turnaround since 2016-17. Oil price hike failed to fuel inflation. For example, the average Indian basket price for imported crude oil increased from US$ 46.2 bbl in 2015-16 to US$ 47.6 bbl in 2016-17. But, in contravention to conventional wisdom, inflation, measured by CPI, declined. It fell from 4.9 per cent in 205-16 to 4.3 per cent in 2016-17. Since then, an opposite relation between oil price hike and inflation sustained. In 2017-18, the basket price of imported oil rose to US $56.4 bbl, but inflation slipped to 3.6 per cent. These suggest that the threat of global oil price hike and its impact on inflation does not hold good now. Why has the parallel relationship between oil price hike and inflation been jeopardised since 2016-17? The main reason is that oil energy is mainly (55 per cent) used as a transport fuel in the country and not for production. The high cost of transport fuel impacted the prices of mainly food and vegetables. Due to lack of adequate cold storage facilities, motor transport, viz. trucks and lorries, are the major carriers for food and vegetables, which bring these items to the cities from nearby villages in the country. The food component constitutes a bulk share in the retail price index. With a leapfrog in agricultural production, inflation owing to food component in the price index has swayed. This has overshadowed the impact of oil price hike, which was reflected in the transport fuel. In manufacturing, anecdotal evidence shows that an oil price hike will have a simmering impact. This is because oil is not the major source of energy for manufacturing in India, unlike other countries. Coal is the major energy source, such as power, for manufacturing and other industrial sectors. Oil produces less than one per cent of power generation in the country. Other oil-based products, such as fuel oil and light diesel oil, which are used as energy sources for manufacturing, are insignificant energy sources for manufacturing. Unlike in the 1990s, crude oil imports ceased to be a big burden for India’s trade deficit. With the advent of export of petroleum refinery products in the early of 2000s, owing to a large number of refinery plants established in the country, petroleum products have become the predominant component of export basket of the country. It became a major tool to counterbalance the big burden of crude oil. Currently, exports of petroleum refinery products account for one-sixth of India’s total exports. And, in terms of counterbalance, which help in reducing the trade deficit, exports of petroleum refinery products offset one-third of crude oil imports. For example, in 2018-19 export of petroleum products was US$ 46.4 billion against the import of US$ 141.1 billion import of crude oil and petroleum products. This offset 32 per cent of the import burden of crude oil and other petroleum products. Incidentally, Iran is not the major supplier of crude oil to India. In 2018-19, India imported crude oil from Iran amounting to 24 million tonnes. This accounted for a little more than 10 per cent of India’s total import of crude oil. Saudi Arabia and Iraq are the major suppliers of crude oil to India. Saudi Arabia ensured to increase supply by making India a regional hub for the supply of crude oil. Another factor, which goes in favour of India with regard to its oil dependency and curtailment of Iranian oil is the near stagnancy in oil demand in the country. With various counter-measures for oil saving and boost to non-conventional energies, such as solar, bio and wind energies, India’s total demand for crude oil increased marginally. Oil demand increased by 3-4 per cent during the past two years, despite the country achieving the highest GDP growth hovering around 7 per cent. This suggests that oil volatility due to price fluctuations is less vibrant to the major economic parameters for the country. Oil is not the major source of power energy and not the catalyst for manufacturing in the country. (The views expressed are strictly personal)
CAIRO – A car bomb intended for Egyptian troops in the Sinai exploded on Wednesday without causing any injuries, security officials said.The bomb near the north Sinai town of Sheikh Zuwayid was discovered before the planned attack.It blew up as a bomb squad team approached the car, but did not cause any injuries, the sources said. The sources said the military was tipped off to the bomb by a militant arrested after trading gunfire with soldiers earlier in the day.The military has sent armour and helicopters in the desert and mountains north of the peninsula to crush a militant insurgency since the army overthrew president Mohamed Morsi in July.Some of the militants belong to Al-Qaeda inspired groups that have carried out suicide bombings and attempted to attack a ship passing through the Suez Canal.