Green light for Walmart deal

first_img1 June 2011 South Africa’s Competition Tribunal has given US retail giant Walmart the go-ahead for its R16.5-billion acquisition of a controlling stake in local retailer Massmart, with conditions.“Today the Competition Tribunal approved the merger between Walmart and Massmart subject to certain conditions,” the tribunal said in a statement on Tuesday.No further details were given. Full reasons for the tribunal’s decision will be made public within 20 working days.In January, shareholders voted to accept Walmart’s bid to acquire 51 percent of Massmart for R148 a share in a deal worth around R16.5-billion.The Competition Commission initially recommended the deal go ahead without conditions. However, it later changed its mind based on new evidence and recommended that Massmart reinstate 503 retrenched workers and the new merged entity be forced to honour existing agreements with trade unions for the next three years.Earlier in May, the tribunal held hearings in Pretoria during which trade unionists and government departments argued that jobs and local procurement in South Africa could be jeopardised by the deal.Unionists argued that Walmart was known to be anti-union and hard on labour.Unions and government wanted the tribunal to either decline permission for the deal to go ahead, or alternatively impose enforceable conditions on Walmart.However, Walmart argued that imposing conditions would violate numerous international trade agreements signed by the South African government. It would also give an unfair advantage to the merged entities’ competitors.Walmart said it was prepared to commit to no retrenchments for two years, and that the merged entity would honour all labour agreements to which Massmart was a party.Massmart and Walmart also vowed to spend R100-million to develop local South African suppliers over the next three years.Government said it was concerned about Walmart’s procurement policies. It argued if Walmart were a country, it would be China’s eighth largest trading partner.Walmart’s belief in low prices governed its procurement policies and that there was a substantial public interest in the deal and its effects, according to the government.The Massmart group includes Game, Dion Wired, Makro, Builders Warehouse and Masscash.Walmart operates around the world, including Canada, Brazil, China, Chile, Japan and Mexico. It wants to buy the stake in Massmart in order to get a stake in emerging African markets.Sapalast_img read more

German firm wins major SA solar contract

first_img3 December 2013A German company has landed its biggest ever solar contract – thanks to South Africa’s renewable energy programme for independent power producers.Juwi AG, which has its headquarters in Worrstadt, will provide engineering, procurement and construction services for an 86-megawatt (MW) solar park in Prieska in South Africa’s sun-drenched Northern Cape province, the company said in a statement last week.Juwi will be working with Sonnedix, an independent solar power producer based in Amsterdam, which landed the contract as one of six solar projects awarded in the third round of South Africa’s Renewable Energy Independent Power Producers Procurement Programme (REIPPP).Sonnedix’s South African partners include Mulilo Renewable Energy and Ixowave Women in Power.Known as the Mulilo Sonnedix Prieska PV solar park, it will be larger than any PV plant currently on line on the African continent, and will be Juwi’s fifth project in South Africa.“The project … represents an investment of more than R1.2-billion,” Olivier Renon, South Africa country manager of Sonnedix, told news website PV-Tech last month. He said construction was expected to begin in the second half of 2014, and the park should start generating electricity to the South African grid by the end of 2015.Under the government’s Integrated Resource Plan, a 20-year projection on electricity supply and demand, about 42% of electricity generated in South Africa will have to come from renewable resources. The Department of Energy’s REIPPP, introduced in August 2011, will help meet this target.The programme has helped investment grow from “a few hundred million dollars” to US$5.7-billion last year, according to the Renewables 2013 Global Status Report published in July by REN21, the global renewable energy policy network.SAinfo reporter, Juwi and PV-Techlast_img read more

Weak Managers Focus On More Activity

first_imgThere are no outcomes without activity. But the right outcomes require the right activity.“More activity” is the answer a weak manager uses when they need better results. It’s easier to demand more activity than it is to determine the real outcome you need, determine the “right and necessary” activity to deliver those outcome, and to ensure that his people have what they need to be effective in generating both the activity and the outcomes.Lest you think I’ve gone soft, many underperforming salespeople are asked to generate more activity because it is what is necessary to produce greater results. But when the idea of “more” is applied across an entire sales organization, it’s a clue that it is being used a substitute for what is really needed.You might need to make more phone calls. But you might also need a campaign of value creation in front of those phone calls to make them more effective.You might need more opportunities. But you might also need to better work the opportunities that are already in your pipeline but being haphazardly pursued.You might need more leads—or better leads. But you might also need a list of dream clients and a real plan to nurture those relationships to create the real opportunities you need.You might need more flexibility when it comes to your price. But you might also need to create a greater level of value and a compelling, differentiated, tailored value proposition.Sometimes you need more activity. But most of the time what you need is something more complicated, something more difficult to obtain. Strong managers know that some people need to be pushed for “more activity” to achieve their goals, but that most of their team needs greater effectiveness in areas where competencies are more difficult to obtain.QuestionsWhen is more activity the right prescription?When does getting better results require something more than more activity?Is more activity always necessary from all salespeople at the same time?Why is effectiveness more important than activity?last_img read more

Dry weather leads to drop in minimum temperature across Kashmir

first_imgLeh in Ladakh region was the coldest recorded place in the state at minus 10.4 degrees Celsius, as the minimum temperature across Kashmir division dropped by several degrees due to dry weather and clear sky.The night temperature in Leh dropped from the previous night’s low of minus 5.1 degrees Celsius to settle at minus 10.4 degrees Celsius, a spokesman of the Meteorological Department here said.Along with Leh, the temperature at other places across Kashmir division, including Ladakh region, went down last night due to dry weather and clear sky.Srinagar, the summer capital of the state, recorded minimum temperature of 0.9 degree Celsius down from the previous night’s 2.7 degrees Celsius, the spokesman said.He said Qazigund, the gateway town to Kashmir along Srinagar—Jammu national highway, registered a low of 0.4 degree Celsius, while the nearby Kokernag town recorded a low of minus 0.2 degree Celsius.Kupwara town of north Kashmir had registered a minimum of minus 2.5 degrees Celsius, a decrease of three degrees from 0.5 degree Celsius yesterday.The night temperature recorded at the famous hill resort of Pahalgam in south Kashmir was minus 6.6 degrees Celsius down about seven degrees from the previous night’s 0.2 degrees Celsius, the spokesman said.He said Gulmarg, in north Kashmir, registered a low of minus 9.5 degrees Celsius, adding the resort had yesterday recorded a low of minus 7.0 degrees Celsius.He said the resort was the coldest place in the Valley.The spokesman said the weather is likely to remain dry for a few days after which there is possibility of another wet spell from February 26.last_img read more

It’s Bach to the cemetery for a musical feast in Kolkata

first_imgCome Saturday, Kolkatans, both the living and the dead, can look forward to a grand musical feast as the South Park Street Cemetery, one of the city’s oldest cemeteries, will celebrate its 250th birthday by holding a concert on its premises. In a clearing amid small and giant sepulchres, ageing plaques, and 300 varieties of trees, its sprawling, leafy compound will host a performance by a string quartet and a pianist on January 6. The performances, according to the programme booklet, will mainly be of “17th and early 18th century Baroque composers” such as Antonio Lucio Vivaldi, Johann Sebastian Bach and George Frederick Handel. Some of the finest musicians of the city, including some who are based abroad, such as the violinist Prosanto Dutt, will perform. “He will also talk about the music,” said Ranajoy Bose, the architect of the two-hour show and a managing member of the Christian Burial Board, which manages the cemetery. The tickets are priced at a modest ₹20.On being asked about the low price of the tickets, Mr. Bose said, “This is a strange cemetery. For instance, there are no crosses here. Instead, the tomb designs carry the architectural imprint of many civilisations, including Greek, Roman, Turkish and Mughal influences, and some are even shaped liked Hindu temples. We would like school children to know something about these eclectic designs created by Indian masons, besides some Western classical music.”last_img read more

Racela: We’ll find better ways to defend San Miguel

first_imgPagasa: Kammuri now a typhoon, may enter PAR by weekend Another vape smoker nabbed in Lucena Lacson: SEA Games fund put in foundation like ‘Napoles case’ Read Next TNT was called for 32 fouls for the game, which led to San Miguel going 26-of-38 from the charity stripe. In comparison, the Beermen had 23 fouls, which turned to the KaTropa’s 14-of-21 shooting from the free throw line.Racela and his coaching staff have two days to devise a plan to trim those free throws attempt down, downplaying the situation. “I don’t know how. We’ll find ways to better defend them.”One thing’s for sure, is that TNT will come to play on Sunday with one goal in mind: to force a Game 7.“Again, the goal is to get to a Game 7. I think that’s the target of a lot of people,” he said. “I mean, your emotions cannot be dictated by this game. You just have to focus on the next one, and there will be a Game 7.”ADVERTISEMENT Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games View comments LATEST STORIES Photo by Tristan Tamayo/ INQUIRER.netTNT coach Nash Racela was at loss for words after his side suffered a 111-102 Game 5 defeat to San Miguel in the 2017 PBA Commissioner’s Cup Finals on Friday.“I would like to say that San Miguel easily outplayed us, but that’s just not the case,” said the soft-spoken coach, seemingly struggling to find the right words to say.ADVERTISEMENT Don’t miss out on the latest news and information. center_img Chris Ross credits teammates: ‘Everyone was up to the task’ LOOK: Jane De Leon meets fellow ‘Darna’ Marian Rivera MOST READ Racela looked the other way and raised that just like in Game 3, turnovers once again led to the KaTropa’s downfall as they committed 24 turnovers which led to 23 turnover points for the Beermen.“Again, we have to limit our turnovers. I think that’s number one,” he said.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSWin or don’t eat: the Philippines’ poverty-driven, world-beating pool starsThose miscues haunted TNT as it lost its 15-point halftime lead, 61-46, and succumbed to a furious San Miguel rally in the second half.Racela continued: “We also have to limit San Miguel’s free throws.” What ‘missteps’? Cayetano to unmask people behind ‘smear campaign’ vs him, SEA Games China furious as Trump signs bills in support of Hong Kong Pagasa: Kammuri now a typhoon, may enter PAR by weekendlast_img read more