World Bank warns China growth could screech to a halt

first_imgWith two-fifths of the world’s population under some form of lockdown that’s caused the shuttering of businesses and a slowdown in transportation to try to contain the virus, the country where the outbreak originated may escape a recession but will nonetheless suffer a sharp slowdown.Read also: World Bank approves $300m loan to improve Indonesia’s financial sectorJust two months ago, the World Bank’s economists forecast China would grow by 5.9 percent this year, which would have been its worst performance since 1990.Now the world’s second-largest economy faces a more dire outlook, reflected in the record contraction in manufacturing activity in February and industrial production that fell for the first time in 30 years. The coronavirus pandemic’s economic fallout could cause China’s growth to come to a standstill while driving 11 million more people in East Asia into poverty, the World Bank warned Monday.The pandemic is causing “an unprecedented global shock, which could bring growth to a halt and could increase poverty across the region,” said Aaditya Mattoo, World Bank chief economist for East Asia and the Pacific.Even in the best-case scenario, the region will see a sharp drop in growth, with China’s expansion slowing to 2.3 percent from 6.1 percent in 2019, according to a report on the pandemic’s impact on the region. The East Asia and Pacific region, excluding China, could see growth slow to 1.3 percent in the baseline or contract 2.8 percent in the more pessimistic scenario as compared to 5.8 percent last year, the report said.”The pandemic is profoundly affecting the region’s economies, but the depth and duration of the shock are unusually uncertain,” the report said, noting the region already was unsettled by trade conflict with the United States.Read also: IMF, World Bank call for suspending debt payments by poorest nations”Containment of the pandemic would allow recovery, but the risk of durable financial stress is high even beyond 2020,” the World Bank warned. “Most vulnerable are countries that rely heavily on trade, tourism, and commodities; that are heavily indebted; and that rely on volatile financial flows.”Worsening povertyEven in the best case, marked by a sharp slowdown followed by a strong recovery, 24 million fewer people in the region will escape poverty, the report said.But an additional 11 million people could descend into poverty under the more negative outlook, where there is a severe economic contraction followed by a sluggish recovery.Mattoo said the 17 countries in the region key to global value chains and accounting for 70 percent of world trade “have all been affected” and now have some of the world’s highest numbers of COVID-19 cases.Read also: World Bank adds $2b to funds available for coronavirus response”In this interdependent world where our economic destinies are intertwined, there’s going to be mutual amplification, because the shock is simultaneously affecting all these important countries,” he told reporters.”That makes it particularly costly in economic terms.”The World Bank called for strong action, with the priority first on containment but also on measures to cushion the shock to households of lost wages. Mattoo said it is not too late to follow Korea’s example to ramp up testing and containment so that economies can begin to return to normal more quickly.”This is not rocket science. With help even poorer countries can do it.”Topics :last_img read more

Brisbane’s property market hitting its straps

first_img6/455 Adelaide St, Brisbane sold under the hammer for $3.277 millionBRISBANE’S property market is hitting its straps with homes selling faster, good prices being achieved and the high end continuing to fire.New figures reveal statewide the auction market alone chalked up more than $91 million worth of sales in the past week.According to Real Estate Institute of Queensland figures, $91,000,800 worth of property sold at auction, with the median auction price more than $880,000.A Ray White auction event on Tuesday night, saw 15 properties go under the hammer for about $25 million. A further two sold shortly after. INVESTORS EYE OFF SOUTHEAST QLD PROPERTY Ray White Queensland CEO Tony Warland, said while he didn’t like to predict what would happen in the future at the moment all the indicators were good.“Property is moving really quickly, the high end is going really well and the days on market is reducing,’’ he said.More from newsMould, age, not enough to stop 17 bidders fighting for this home4 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor4 hours agoCEO of Ray White Queensland Tony Warland said the Brisbane market was performing well at the moment.“We are seeing good prices and we are experiencing people bidding over reserve which is another good indicator.“The Brisbane market has been above steady and of course it has not been so erratic like some of the other markets in the last 12 months.’’Mr Warland said the one issue in the market at the moment was a lack of stock which made competition for property stronger. Suzie O’Neill’s Yeronga renovator sold for $3 million. Picture: Mark Calleja“The market has gone from 108,000 sales (in the year to April 2016) to 101,000 (in the year to April 2017),’’ he said.“So we have had less sales but more money in the market.’’At the Ray White, auction on Tuesday night properties sold for solid prices including an inner city Adelaide St penthouse which went for $3.277 million and swimmer Susie O’Neill’s Yeronga renovator for $3 million.Ascot based agent, Mikki Finlay is so confident the high end market was going to continue to fire that she has returned to her boutique agency Premium Residential.last_img read more

David Rudisha preps for Beijing 2015 after overcoming injury

first_imgAfter nearly a year battling a nagging knee injury, Olympic gold medalist in 800 meters David Rudisha has fully recovered and has shaped his season towards the world championships in Beijing, China. CCTV’s Saddique Shaban filed this exclusive reportlast_img

La Liga confirms clubs training return as matches restart June

first_imgLa Liga have confirmed that clubs are returning to training this week, with matches planned to return in June and the 2019/20 campaign to be completed this summer. Loading… Read Also: Eight years on, FIFA, NFF, Eagles celebrate late Rashidi Yekini Phase 0: basic training for professional athletes Phase 1: medium training and opening of high-performance centres Phase 2: authorisation of outdoor activities with less than 400 attendees Phase 3: return to the ‘new standard’, with no specific references to sport. FacebookTwitterWhatsAppEmail分享 The nation has been in a state of emergency since 13 March but last week, Prime Minister Pedro Sanchez clarified plans to ease the nation back into some sense of normality as coronavirus cases begin to reduce. La Liga hopes to resume the 2019-20 season at the start of next month, with 11 rounds of games still to be played to conclude the league. “LaLiga clubs return to training this week following the approval by the Ministry of Health of the return to sports training,” read a league statement. “In accordance with the Return to Training Protocol that LaLiga has developed with medical experts, individual training of professional players from LaLiga Santander and LaLiga SmartBank (Spain’s second tier) is starting, once clubs have carried out medical tests.” As outlined by Goal, players can return to individual training session on 4 May with a de-escalation plan that will have four phases, each lasting a minimum of two weeks, and that should lead to some form of normality by the end of June – ‘gradually and asymmetrically’.Advertisement Promoted ContentThailand’s 10 Most Iconic LandmarksOnly The Chosen Ones Can Appear On-Screen Even After Their DeathEverything You Need To Know About Asteroid ArmageddonThe Highest Paid Football Players In The World10 Phones That Can Work For Weeks Without Recharging8 Fascinating Facts About CoffeeWhat Is A Black Hole In Simple Terms?Most Outstanding Female Racers Who Made History In SportsBirds Enjoy Living In A Gallery Space Created For ThemCan Playing Too Many Video Games Hurt Your Body?The Best Cars Of All Time6 Incredibly Strange Facts About Hurricaneslast_img read more

Ferguson gives support to Di Canio

first_imgSir Alex Ferguson has admitted he has a soft spot for Paolo Di Canio. “As I wrote the other week, he wears his heart on his sleeve and I like his football philosophy, wanting to play the ball on the ground rather than in the air. “I have this picture in my mind of him being in the technical area pointing to the sky and then the ground in an effort to get his players to keep the ball down. “He has a tough challenge on his hands with his fight to keep Sunderland in the Premier League.” Di Canio faces a baptism of fire at Chelsea on Sunday afternoon, when defeat would send Sunderland hurtling into the relegation zone should Wigan beat QPR. Press Associationcenter_img Di Canio’s appointment as Sunderland manager has been overshadowed by the furore over his links to fascism, which after three days of hot debate, finally triggered a statement from him in which he denied supporting the ideology. Ferguson has not got involved in that particular argument. However, speaking to United Review ahead of Manchester United’s derby encounter with City on Monday, Ferguson said he does like Di Canio’s management philosophy. “I must confess to a liking for the fellow and his approach to the game,” said Ferguson. last_img read more

The Bottom Line: Duke and Zion will dominate in March

first_imgThe East appears to be No. 1 Duke’s. The bottom half of the region features the three teams that could upset Duke in No. 2 Michigan State, No. 3 LSU and No. 7 Louisville. Ultimately, Michigan State will probably claw its way into the Elite Eight after getting past Bradley, Louisville and then LSU, but will run out of steam against Duke. In particular, the Midwest appears to be the toughest region in this year’s tournament. North Carolina headlines the division as the one seed, but it also features major college basketball powerhouses in Kentucky and Kansas, as well as sleeper teams like fifth seed Auburn. The match between Virginia and Auburn is a harder one to pick. While Auburn has been doing well recently, Virginia is still recovering from a disappointing ACC Championship Tournament. However, Auburn has a tough run just to get into the Final Four and is by no means a lock to get out of the Midwest. In recent years, Virginia has had an elite team, but it has failed to deliver in the tournament. This year is its time to change people’s minds. The South Region also has a good mixture of some top-seeded teams and sleepers, including Virginia, which headlines the group as the top seed. It recently lost to Florida State by 10 points in the ACC tournament, but it has had a strong season, only losing three times this season. It’s dangerous to pick a team from the east as the winner of the tournament because there are many capable of coming out of it. This region is just too good, and will be a total grind for whoever wins it. While North Carolina has had an impressive season with major victories and an elite coach, I opted for Auburn to win out of this region. It easily beat Tennessee in the SEC final — momentum I think they will carry forward. Robby Aronson is a sophomore writing about sports. His column, “The Bottom Line,” runs every other Wednesday. On the other side, Tennessee can definitely make a run as the No. 2 seed. The team lost to Auburn by 20 points in the SEC finals, but defeated Kentucky the day before. Experience is an important factor in the tournament. Its starting lineup against Auburn consisted of three juniors and two seniors. One of the hottest teams in the country, Auburn is now in the spotlight after winning the SEC Tournament. In the past, teams coming into March with momentum generally continue to ride the wave in the tournament. Moreover, Seton Hall, a No. 10 seed, narrowly lost to defending champion Villanova in the Big East tournament. That leaves a Final Four of Duke vs. Michigan and Virginia vs. Auburn. Duke’s easy run in the West Region makes them the favorite against Michigan. Ultimately the team has more stars on the court in RJ Barrett, Cam Reddish and Zion Williamson, and they should beat the Wolverines comfortably in that game. Barring an upset, these two teams in Tennessee and Virginia are likely to face off in the Elite Eight. While the game might end up being close, Virginia has been one of the best teams all season and are desperate to make amends for its loss last year in the first round of the tournament as the No. 1 team in the country. The West Region also contains last season’s runner-up in the tournament, No. 2 Michigan. Many Michigan players have good tournament experience, and the program has an elite tournament pedigree. While potential matchups between No. 7 Nevada and No. 3 Texas Tech may be tricky, Michigan’s experience from last year should give the team an edge and help it reach the  Final Four again. This year’s NCAA men’s basketball tournament has some intriguing matchups that will determine who will participate in the Final Four. Some regions on paper will be tougher than others. Whenever I make my bracket for March Madness, I typically over-analyze every statistic to determine the winning team. In the past, I’ve looked at factors like the team’s free-throw percentage, rebounding and age to settle on my winning pick. But this year is different. The ACC tournament showed that Zion Williamson transcends college basketball. Duke will win. The bottom line? Stars win championships. My final prediction is that Duke and Virginia will face each other in the final round. Both teams have played each other twice this year and have split the series with one win a piece. However, on the big stage in the ACC tournament with everyone watching, Zion Williamson came up big and put up tremendous numbers on both sides of the floor. True stars shine the brightest in the biggest games, and ultimately, Zion Williamson will carry Duke to yet another championship. As the weakest link, the West is up for grabs. No. 1 seed Gonzaga recently lost to St. Mary’s in the West Conference Tournament finals by scoring just 46 points. While they beat Duke earlier in the season, the Bulldogs have upset potential written all over them. In the second round, Gonzaga will potentially face Syracuse, which also defeated the Blue Devils this season, and I predict a Syracuse win.last_img read more

Celebrate the Fourth of July in Sunrise!

first_imgThe City of Sunrise is hosting a full day of free celebrations on Wednesday, July 4. Looking for a traditional start to your Independence Day? Be in position at 9:00 a.m., when our “Animation Comes to Life” Parade winds its way west along Sunset Strip from NW 12th Street to City Park (6700 Sunset Strip, Sunrise 33313). You’ll see colorful floats, costumed characters, marching musicians, and more! From the end of the parade until noon, enjoy a Family Fun Day complete with refreshments and activities for kids. The excitement continues with a Concert and Fireworks outdoors at the BB&T Center (One Panther Parkway, Sunrise 33323). The gates open at 4:30, and parking and admission are free.  This year’s live entertainment includes three amazing bands and a fantastic fireworks display: 5:00 p.m. – Skotch Bonnett Band (reggae and R&B) 6:15 p.m. – Mr. Nice Guy (classic rock) 7:45 p.m. – Grand Funk Railroad (classic rock from The American Band) 9:15 p.m. – Fireworks The event also features a children’s fun zone, and a wide selection of food and beverage vendors. For attendees’ safety, the following items cannot be brought into the event area at the BB&T Center: backpacks, bags larger than 12” x 12”, coolers, glass bottles, alcohol, weapons, drones, fireworks, pets, and bicycles. (Bring a lock to secure your bike in the lot.) All bags will be searched. The City of Sunrise Concert and Fireworks celebration is presented by Wheelabrator Technologies and sponsored by the BB&T Center, the Florida Panthers, Ed Morse Sawgrass Automall, Metropica, Memorial Healthcare System, the Sun-Sentinel Media Group, The Beach 102.7 FM, The Ticket 790 AM, and Bahama Breeze. For more information, visit www.sunrisefl.gov/july4, or call the City of Sunrise Leisure Services Department: (954) 747-4600.last_img read more

Caribbean countries could receive less funding for projects -CDF

first_imgBarbados, CMC – The Barbados-based Caribbean Development Fund (CDF) says regional countries could receive less funding for projects in the future because some countries have not been meeting their financial obligations.“We have enough resources to continue the programs that we have already agreed to. However, if we do not get all of the subscriptions that were due in the second cycle, there is a possibility that we may need to scale down operations, not projects that are discussed, but scale down new projects that will be anticipated for 2020. We are hoping that this will not be the case,” said the chairman of the CDF board of directors, Dr Sherwyn Williams.In addition, Williams told reporters on the side-lines of the CDF’s seventh annual meeting of contributors and development partners, that the fund, established to provide financial and technical assistance to disadvantaged countries in the Caribbean Community (CARICOM) could scale back if owing member states did not meet their financial obligations to the CDF for the second funding cycle.During 2017 the CDF received contributions from two member states, St Kitts and Nevis and Belize, completing their second cycle commitment, while the outstanding balance was received from Jamaica.As at December 31, 2017, total fund balance was US$122.42 million or two per cent above that reported for 2016. This increase reflected payments from the three member states which brought the net contribution to US$109.42 million at the end of 2017.Fund owed over US$57 million Last year the CDF was owed a total of US$57.2 million, with Trinidad and Tobago owing US$40 million and Barbados US$7.4 million.For 2017, St Lucia, Belize, Antigua and Barbuda, St Kitts and Nevis, Guyana, Dominica, and Grenada benefited from the fund as 17 disbursements of loans and grants totaling US$4.27 million and US$5.01 million, respectively, were made during the reporting period.The CDF said that total disbursement of US$9.28 million in 2017 was 28 per cent higher than the previous year. In line with this performance, the loan portfolio recorded another year of growth at eight per cent from US$23.6 million in 2016 to US$25.71 million last year.The fund has undisbursed balance of US$7.3 million in its coffers as at December 31, 2017.Payments are still too slowCDF chief executive officer, Rodinald Soomer said the response from member states in relation to their payments was not what the fund expected, indicating that they were still too slow in meeting their obligations.He did not name the countries but indicated that there were four member states still in arrears. But he said given the financial situation facing the region, the CDF was taking a new approach in seeking payment.Soomer  said that the CDF was perhaps not the only regional institution having challenges in getting member countries to pay their dues, and that the Guyana-based CARICOM Secretariat was working on a system to ensure for automaticity of financing for regional institutions.last_img read more

Transformers – Age of Extinction is playing at Wellington Regent

first_imgMovie Synopsis:TRANSFORMERS: AGE OF EXTINCTION begins after an epic battle left a great city torn, but with the world saved. As humanity picks up the pieces, a shadowy group reveals itself in an attempt to control the direction of history…while an ancient, powerful new menace sets Earth in its crosshairs. With help from a new cast of humans (led by Mark Wahlberg), Optimus Prime and the Autobots rise to meet their most fearsome challenge yet. In an incredible adventure, they are swept up in a war of good and evil, ultimately leading to a climactic battle across the world. (C) Paramount Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comments Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close WordPress.com Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. There are no comments posted yet. Be the first one! Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new comments Million Ways to Die in the West.Follow us on Twitter. Rotten Tomatoes rating (movie critics collective approval ratings): 17%. Audience review: 56% approval.Movies ahead at Regent Theater: This week at the Regent Theater: “Transformers – Age of Extinction” (Movie trailer is below). Rated: PG-13 Time: 2 hours 45 min. When: Friday 7 p.m. Saturday, Sunday 2 p.m. and 7 p.m.last_img read more

Mathnasium Opens New After-School Math Learning Center in Lacey

first_imgFacebook22Tweet0Pin0Submitted by Mathnasium of OlympiaMathnasium of Olympia is now open for business, offering fun and effective after-school math programs for children in grades K-12.The center, located at 4331-B Lacey Blvd., operates on the core belief that virtually any child can become great at math. The Mathnasium Method™, implemented at more than 400 Mathnasium centers in the U.S. and abroad, is a unique program that provides each child with a customized learning plan and personalized instruction in a way that makes sense to them.  “Mathnasium of Olympia focuses solely on math, so we know how to teach it in a way that really connects with kids. Mathnasium centers across the country have helped struggling students develop into ‘A’ students and ‘A’ students go on to even greater achievements. Children at Mathnasium quickly learn that math can be fun and interesting as well as extraordinarily useful, both in terms of succeeding in school and for the valuable life skills it provides. We are thrilled to be able to bring our Mathnasium Method™ to the parents and children of the Olympia area,” said Jennifer Chevalier, Owner of the Mathnasium of Olympia franchise.For students, the Mathnasium experience begins with a highly detailed assessment of each child’s strengths and weaknesses, which is then used to create a customized learning plan. Personalized instruction from Mathnasium of Olympia’s highly trained and caring instructors assures that each student fully understands key concepts before moving on to the next.Importantly, the Mathnasium Method™ includes a number of approaches to make math fun and interesting. It uses a unique combination of mental, verbal, visual, tactile, and written techniques to help children really understand math and has been developed over more than 40 years of practical experience with thousands of students.Rather than sending children home with additional piles of homework, Mathnasium of Olympia focuses on teaching children what they need to know while they are present at the center.  Unlike many learning centers, students can get help with their school homework at the center and can also use their time to help prepare for important standardized tests.To find out more about Mathnasium of Olympia, please contact Jennifer Chevalier, owner of the Olympia Mathnasium franchise, at (360) 688-9963, or visit http://www.mathnasium.com/olympia.About MathnasiumMathnasium Learning Centers, the nation’s leading math-only learning center franchise, specializes in teaching kids math in a way that makes sense to them. Students go to Mathnasium year-round to catch up, keep up, and get ahead in math. The proprietary Mathnasium Method™ is the result of 40+ years of hands-on instruction and research. Franchising since 2003, Mathnasium has become one of the fastest growing educational franchises, with a new center opening each week. There are more than 400 Mathnasium franchises in the U.S. and abroad. www.mathnasium.comlast_img read more