WTA signs lucrative 10-year deal to move finals to China

first_imgDon’t miss out on the latest news and information. Brian Heruela arrival bolsters Phoenix backcourt, defense “When you have 20 million people in that downtown district, plus 68 million in the entire delta region,” he said, “we feel confident we’re going to be able to fill (the arena).”The 10-year commitment is also far longer than the WTA has signed in previous host cities, a cause for possible concern if attendance figures don’t reach initial expectations.Simon said, however, that time is needed to build a successful event in a new market. He spoke in 2016 of finding a more permanent home for the finals, saying at the time that Singapore was a city “we’d be very proud to call home.”In a statement on Wednesday, the Singapore Tourism Board said it had evaluated a possible extension of the WTA Finals hosting agreement with the national agency Sport Singapore and “decided not to pursue this.” It did not elaborate on the reasons.Simon said the WTA would evaluate whether it could bring another tournament to Singapore in the future.ADVERTISEMENT The prize money for the top eight singles players and top eight doubles teams is also a major upgrade from the current purse of $7 million and is nearly double the $8 million in total prize money on offer at the ATP Finals in London.The WTA said the Chinese real estate developer Gemdale Corporation submitted the winning bid and will build a 12,000-seat stadium in downtown Shenzhen.FEATURED STORIESSPORTSTim Cone, Ginebra set their sights on elusive All-Filipino crownSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSAfter winning title, time for LA Tenorio to give back to Batangas folk“We are very excited about the opportunity I think that Shenzhen brings,” Steve Simon, the CEO of the WTA Tour, said at the Australian Open on Thursday. “With the new arena that’s being built, it will be built in the downtown district, which hasn’t been done. Most of the time it’s on the outskirts, and now it’s there.”Attendance has been a concern at ATP and WTA events in China in recent years, particularly at tournaments in cities such as Wuhan and Tianjin, but Simon believes the WTA Finals will attract a sizable audience in a major metropolitan region like the Pearl River Delta. View comments Meralco ‘never the same’ after Almazan injury in PBA Finals MOST READ OSG plea to revoke ABS-CBN franchise ’a duplicitous move’ – Lacson “We have created a good market down there, and I would hate to see it get vacated,” he said. “I don’t have one to put there today, but it’s something we will certainly look at.”Shenzhen already hosts a WTA tournament in early January, one of the tune-up tournaments for the Australian Open.Maria Sharapova, who played in the Shenzhen Open at the start of this season, said the WTA was making a good strategic move to partner with “a place that’s willing to invest in women’s tennis.”“They were the ones that put the money on the line,” Sharapova said. “They are willing to grow our sport. They’re willing to build a stadium, willing to accept the game and its level and the players.”Sports Related Videospowered by AdSparcRead Next Jiro Manio arrested for stabbing man in Marikina Scottie Thompson also worthy of Finals MVP, thinks Cone NCAA volleyball: Letran sneaks into fifth spot after brushing off Lyceum Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Andrea Hlavackova of Czech Republic (L) and Timea Babos of Hungary (R) play against Kiki Bertens of the Netherlands and Johanna Larsson of Sweden during the women’s doubles final at the WTA Finals tennis tournament in Singapore on October 29, 2017. / AFP PHOTO / ROSLAN RAHMANMELBOURNE, Australia — The WTA has signed a long-term deal to move its season-ending WTA Finals to Shenzhen, China, in 2019 and will increase total prize money to $14 million, double the previous purse.The move represents a significant investment in the China market at a time when the sport is aggressively expanding its reach in the country, with the addition of a number of new tournaments in recent years. The WTA signed a 10-year deal to stage the finals in Shenzhen — double the length of the current commitment in Singapore, the host since 2014.ADVERTISEMENT Steam emission over Taal’s main crater ‘steady’ for past 24 hours Redemption is sweet for Ginebra, Scottie Thompson OSG plea to revoke ABS-CBN franchise ’a duplicitous move’ – Lacson Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award LATEST STORIESlast_img read more

JSE pushes for youth financial literacy

first_img“This low savings rate, especially at household level has got negative spill over effects, leading to an increased burden on the state to provide safety nets,” said the Financial Planning Institute’s Solly Keetse. “Despite the advent of the introduction of the National Credit Act in 2007, many South African consumers face the challenges of high indebtedness and only education and a change of attitude will change that.” “For the youth they have the benefit of time on their side and need to start as soon as possible.” The Global Competitiveness Report for 2010/11 notes that South Africa’s gross savings rate was 15.5% of GDP in 2009, compared to China’s 52.3%, India’s 37.5% and Russia’s 21.9%. “I am confident that this Financial Literacy Day will make an important contribution to the improvement of the general understanding of financial and economic matters,” said the South African Reserve Bank’s Jannie Rossouw. “Domestic savings mobilisation helps the poor to get out poverty, as is access to key information,” she said. “A financially literate population will understand financial facts and concepts, appreciate financial risks and opportunities to make informed decisions, know where to go for help, and ultimately take actions that improve theirs and the country’s financial health.” He said that making financial literacy part of the syllabus would help develop an investment- and saving-savvy South African population. The South African Savings Institute’s Elizabeth Lwanga-Nanziri pointed out that South Africa had a dismal savings rate, especially at a household level (at 0.2% of GDP), adding that a high savings rate was desirable for sustainable growth and to fight poverty and household vulnerability. Negative spill over effects Given recent world events, the importance of investing and sticking to a long term plan is vitally important for the youth. For many years financial literacy has been neglected. There was also general agreement that people should be equipped with social skills, but financial literacy was not necessarily included as one of these skills. “If one is financially smart, one can use credit successfully,” said the National Credit Regulator’s Darrell Beghin. “Saving instead of spending without a budget and life plan, not being seduced by instant gratification, avoiding taking on unnecessary credit, and paying well in terms of any credit that is taken on – all of these habits make for highly desirable consumers who will also have benefits for credit providers and the economy.” The JSE has partnered with the Reserve Bank, the Financial Planning Institute, the SA Savings Institute and the National Credit Regulator to improve financial literacy among young South Africans. 12 August 2011center_img Everybody can, should save National Youth Financial Literacy Day, to be held annually, follows last month’s national savings month, and forms part of the JSE’s project aimed at growing the economy by taking financial knowledge and literacy to young people. The JSE and its partners held a National Youth Financial Literacy Day workshop at Johannesburg’s Sandton Convention centre this week for the benefit of young people wanting to know more about money matters. “As part of the focus on financial literacy, the JSE has a contractual agreement with several provincial Education Departments through which the exchange provides courses to schools which teach learners and teachers about banks, savings, investment and related topics,” JSE executive Noah Greenhill said in a statement this week. JustOneLap is a free resource for people to use and expand their knowledge about money, through a series of webinars, 100-second tips and other relevant content. Investing, sticking to long term plans The recurring theme is that everybody can, and should, save. “Typically people spend first and then save, but that is the wrong way around. We need to learn to save first and then spend, even if that means only saving R1 of R10,” said JustOneLap’s Simon Brown. “It is a culture and tradition of saving and investing that needs to be instilled in our youth that is vital to achieving financial freedom. Knowing, for example, how to use credit wisely is critical, especially for the increasingly number of youth headed households. Credit bureau records show there are 18.6-million credit-active consumers across the various age categories in the country, with 46.4% consumers having impaired records. “Long-term national saving rates do not go up by accident – nor do they do so quickly,” Greenhill said. “Inevitably, with or without large inflows from outside, the vast bulk of domestic investment is still financed by its own citizens, and in recognition of this fact we have implemented a number of initiatives to educate the wider public about the world of investing.” The workshop covered a range of topics including basics in economics, savings and money management, the role of the South African Reserve bank, investment opportunities on the JSE, credit rights and the importance of sound financial planning. SAinfo reporterWould you like to use this article in your publication or on your website? See: Using SAinfo materiallast_img read more

Al Gore slams investor short-sightedness

first_img22 September 2011Investors’ increasingly short-term outlooks are bad for the ability of markets to create value and of economies to recover from recessions, former US vice-president Al Gore said at the Discovery Investec Leadership Summit in Johannesburg on Wednesday.“I think we really do need to work for change in capital markets and not be so focused on the short term,” he told a Discovery leadership summit in Johannesburg.“The increasing short-term focus for investment decisions and business planning has been harmful to creating sustainable value.”This could be the reason it was taking longer for economies to recover from recessions.He said the period of time taken after recessions to restore the economy and jobs had been stretching out considerably.It changed from about six months after World War II to the over two years, or more, of today.Investors used to retain stocks for six to seven years, but now they sold them after less than a year, he said.“As it happens, the average period for 75 percent to 80 percent of real building up of value is six to seven years,” Gore said.“But, if investors are getting in and out of stock in just a few months, that does not synchronise with the long-term build-up of value.”There was now an increasing focus on even shorter investment time-periods.“On many exchanges in the world today, 50 to 60 percent of trades are high-speed, high-frequency,” Gore said.This led to “flash crashes” on stock exchanges, where the value of the market dropped significantly and recovered in a very short time period.“One of the proposed remedies to flash crashes was a new rule that caught my attention … an offer to buy or sell has to remain open for one second. The reaction to this proposal was, ‘Oh no, the whole system will collapse’.”Although these short-term trades could serve a purpose, they caused more harm.“I don’t think the value they add is anywhere close to the risk that they cause,” he said.Sapalast_img read more

SA backs Nigerian for World Bank chief

first_img23 March 2012 South African Finance Minister Pravin Gordhan said his country fully supported Nigerian Finance Minister Ngozi Okonjo-Iweala’s candidature for the position of next World Bank chief, as Nigeria, South Africa and Angola jointly announced her nomination on Friday. “We are very proud as Africa and certainly this constituency to confirm that the Minister of Finance of Nigeria is going to be a candidate for the president of the World Bank,” Gordhan said on Friday – the day nominations close in Washington for the top post of the international body. Gordhan was speaking in Pretoria ahead of a constituency meeting of the World Bank between South Africa, Angola and Nigeria.A candidate of choice ‘not just in Africa’ Okonjo-Iweala is serving a second term as Nigeria’s finance minister, and has worked in a senior post at the World Bank for several years. Gordhan described her as being “very experienced”, adding that she holds eminent academic qualifications. “She would be a candidate of choice not just on the African continent but well beyond as well,” Gordhan said. The constituency meeting between South Africa, Nigeria and Angola forms part of the world body’s three sub-Saharan constituencies out of a total of 25 constituencies. Gordhan’s meeting with Okonjo-Iweala and Angolan Planning Minister Ana Dias Lourenco began on Thursday.Call for transparent, merit-based selection Gordhan added that the G20 had made a decision that future processes for the selection of heads of international finance institutions like the World Bank needed to be open, transparent, democratic and merit-based. “We believe that the candidature of Minister Okonjo-Iweala enables those that are going to make this decision in Washington to have before them an eminently qualified individual who can balance the needs of both developed and, importantly, developing countries,” Gordhan said. Okonjo-Iweala would also “provide a new vision and sense of mission to the World Bank and its relevance, particularly to developing countries across the globe”. South Africa and Angola have committed themselves to mobilise support for the Nigerian minister through the various bodies to which they belong on the continent.South Africa to lobby for BRICS support The countries will garner support for her candidature at next week’s meeting of the continent’s finance ministers in Addis Ababa, as well as at the BRICS summit in India, where South Africa will encourage Brazil, Russia, India and China to support Okonjo-Iweala’s candidacy. The World Bank is expected to choose its next leader before its Spring meeting in late April. Asked about other nominated candidates, Gordhan said the US was expected to field a candidate later on Friday. “We’ve heard the name of a Columbian academic and former finance minister Jose Antonio Ocampo, and Prof Jeffrey Sachs has made himself available. There could well be last minute surprises that we are unaware of,” Gordhan said. Okonjo-Iweala said she hoped the contest she faced would be merit-based and that those nominated applied their best minds in the interviewing processes. “I hope that the best candidates come forward,” she said. “I consider the World Bank [as] a very important institution for the world, particularly developing countries deserving of the best leadership. I look forward to a contest of very strong candidates. Am I confident? Absolutely,” she said. Okonjo-Iweala said it would be premature for her to lay out her vision for the World Bank. The current president of the institution, Robert Zoellick, announced in February that he would step down at the end of June. Source: BuaNewslast_img read more

Now You Can Chat With Your Team For Free With Talker

first_imgTags:#biz#Software Guides Why Tech Companies Need Simpler Terms of Servic… Top Reasons to Go With Managed WordPress Hosting Talker, a Web-based group chat application geared toward remote teams is now available for free, having been rolled into the Teambox collaboration suite. Talker is one of the many group messaging apps that seem to be coming out of the woodwork lately. It’s a browser-based chat environment that supports inline images and videos and has a slew of plugins and integrations available via its REST API. Starting today, its price tag has been removed. “We are doing this because Teambox is our premium offering, and we consider group chat something essential for any team,” reads a post on the company’s blog. “There is still a premium Talker version offering more storage and logs for those who choose paid accounts.”Teambox is another all-in-one collaboration Web app akin to products like Basecamp, Projecturf and Apollo. Interested in taking Talker for a spin? Sign up here for free. A Web Developer’s New Best Friend is the AI Wai…center_img john paul titlow Related Posts 8 Best WordPress Hosting Solutions on the Marketlast_img read more

Motorola launches new Moto G with big screen at Rs 12,999

first_imgMotorola on Friday launched an updated version of the Moto G in India. The phone will be available exclusively on Flipkart from today at a price of Rs 12,999.The price is for the 16GB version. Motorola has both the 16GB and 8GB versions of the new Moto G but in India, it is only selling the 16GB version for now.The new device doesn’t seem all that different from the earlier Moto G phone. But it has been given updates in a few crucial areas like screen and camera.The new device has a 5-inch screen with 720P resolution. It is powered by a Qualcomm Snapdragon processor running at 1.2 GHz and 1GB RAM. The new Moto G runs on Android 4.4 and uses stock user interface. Motorola has promised to update the operating system to Android L when it becomes available. One area where the new Moto G is likely to be radically different compared to the earlier Moto G is its camera. The earlier one was criticised for having a poor camera. The new one sports a 8-megapixel camera on the back and a 2-megapixel camera on the front. Unlike the earlier version, the new Moto G has a slot for microSD card. This means you can add more internal storage if you require it.Another area where the Moto G has been improved is the audio performance. The new Moto G has stereo speakers, positioned on the top and bottom of the screen.When Motorola launched Moto G in India in February, it helped the company mark a strong entry into the country. In next five months, Motorola sold 1 million Moto phones. But much of this was because competition was poor. This time the competition is strong. Devices like Asus ZenFone 5 and Xolo 8X-1000 are fine devices and will challenge the new Moto G in the market.advertisementlast_img read more

2015 NTL Finals Day Update

first_imgPlease find attached the finals draw and finals structure for finals day of the 2015 National Touch League. To view, please click on the attachments below.Related Filesmodified_draw1-pdfmodified_draw_structure_and_format1-pdfRelated LinksModified Finals Drawlast_img

Refugee claimants coming to Canada through the United States not new

first_imgMONTREAL – One spring morning, Alfredo Rivas and his wife, who was seven months pregnant, grabbed the small bags containing their remaining belongings and headed north to Canada, a place they’d never seen.A week earlier, they’d decided to leave New York City amid worries the U.S. president’s promise to crack down on illegal immigration would put them at risk of being deported back to wartorn El Salvador.It’s a story that has recently become familiar to Canadians as the country has seen a rise in the number of refugee claimants crossing its southern borders — a phenomenon some have linked with rising anti-immigrant rhetoric and the election of U.S. President Donald Trump.Only, Rivas’ journey didn’t happen in recent months, and the president whose policies he was fleeing was Ronald Reagan, not Trump.While the scenes playing out at the Canadian border have garnered worldwide attention, northward migration is hardly unprecedented, says an author and historian who has studied the issue.“There’s a long history of people crossing the border fleeing U.S. policy and seeking refuge in Canada, whether you’re looking at African-Americans fleeing slavery in the 19th century, draft dodgers in the 1960s and ’70s, then refugees from Central America and other countries in the 1980s and ’90s,” John Rosinbum said in a phone interview.In November 1986, exactly 30 years prior to Trump’s election, Reagan signed the Immigration Reform Control Act, which stated that illegal immigrants who could not prove they had resided in the country for five years could be deported, and employers who hired them could be penalized.The move sent thousands of would-be refugees heading toward Canada, many of them originally from Central American countries such as Guatemala and El Salvador.This wave of arrivals caused Ottawa to dramatically shift positions in February 1987 and declare that asylum claimants would not be allowed to enter the country pending their hearing dates.The process essentially stranded hundreds of refugees, including Rivas and his wife, in communities along the Canada-U.S. border for weeks or months at a time, Rosinbum said.The small town of Plattsburgh, N.Y., pop. 20,000, unexpectedly found itself hosting an impromptu refugee camp for people originating from more than 50 countries.Without formal services in place, volunteers quickly jumped in to organize food, shelter and warm winter clothes for the refugees, according to former volunteer Margot Zeglis.“I think it was a surprise to everybody,” recalled Zeglis, who eventually co-ordinated the volunteer effort.“The Salvation Army was one of the first places they went but that was bursting at the seams, they would be sleeping under pews and filling the halllways with their small duffels of what their belongings were.”Eventually, she said, the volunteers became more sophisticated and formed partnerships with social services and various levels of government to organize better housing, food, counselling, translation services and entertainment for the guests.Despite the kindness of the volunteers, it was a stressful time, Rivas recalls.“They were small army beds, very small,” said Rivas, adding his wife’s stomach barely fit on one of the cots, which were lined up next to each other in rows.Rivas says he and his wife were allowed into Canada on April 6, 1987 — the same day his daughter was born.“They asked us (at the border) if we wanted the baby born in New York or Canada,” he said.While he chose New York, he said, his wife opted to give birth in Montreal — a decision he now concedes was the right one.Rivas, now a slim 58-year-old widower with two grown children, said many people who came up through Plattsburgh in 1987 are still friends.On a recent Sunday afternoon in Montreal, several of them met up for a backyard barbecue hosted by their friend Fredy Cruz, a fellow Salvadoran, to reminisce and eat plates of pupusas, or thick tortillas, filled with meat and cheese.Rivas’ friend, Nelson Gonzalez, who arrived at the lunch with Rivas, said he sees similarities between the run on the border in the late ’80s and the current situation under Trump.“It’s the same, always the same thing,” he said. “They’re scaring people to run from there. But it’s just a lot of talk.”Rivas, Cruz and Gonzalez, who all came to Canada in the same year, are now part of a group that helps raise funds to send money back to El Salvador.“We came here with nothing, just a small bag,” said Rivas, sitting at a picnic table in Cruz’s garage. “And now, we don’t have much, but we have something.”last_img read more

Rose Prairie family home burns down GoFundMe set up

first_imgThe goal for the Fundraiser is set at $10,000 and they are close to reaching their goal.To view the GoFundMe CLICK HERE ROSE PRAIRIE, B.C. – Mid December the home of Jake and Brianne Dyksterhuis burnt down, causing them to lose the contents and their family vehicle.December 14th at 1 am the Dyksterhuis’s woke up to find their house was on fire, ‘there was only enough time to grab their daughter who was still sleeping in their bedroom and jump out the window in their night clothes’, states the GoFundMe page set up to help assist the family.As a young family with a nine-month-old daughter and another child due in the spring, a GoFundMe account was created to alleviate some of the financial burdens that come with losing everything.last_img

Alexis Sanchez needs to play immediately says Mourinho

first_imgJose Mourinho is certain that Alexis Sanchez must start playing as soon as he arrives in the United States for Manchester United’s pre-season tour after missing their first gameThe Chile international was denied entry into the country after having an application for a US visa rejected.However, the issue has now been resolved and Mourinho is keen to get Sanchez out on to the field as soon as possible with Sunday’s next friendly against San Jose Earthquakes now just two days away.He told the club website: “I don’t even know if he is flying, if he is in Los Angeles or if he is in Manchester – I have no idea about it.“There will be no [Romelu] or [Marcus] Rashford, for sure, and we have to try with what we have.harry maguire, manchester UnitedMaguire says United need to build on today’s win George Patchias – September 14, 2019 Harry Maguire wants his United teammates to build on the victory over Leicester City.During the summer, Harry Maguire was referred to as the ultimate…“It’s not about if he can play, it’s about when he has to. When Martial left the pitch, it was Mata [leading the attack]. When Mata went to the sides, it was a kid that trained with us for the first time this pre-season [Mason Greenwood].”The absence of forwards Romelu Lukaku and Marcus Rashford is having a telling effect on United with Mourinho not certain if they will be available for their opening Premier League game against Leicester City on August 10 with both stars currently away on holiday following their participation in the World Cup.“There’s no Lukaku or Rashford here and probably not even for the start of the Premier League, so it’s about when Alexis lands and when he lands, he has to play because he trained with us for five days before we departed to Los Angeles and we left one fitness coach behind with him to keep training with him. Of course, it’s individual training but when he arrives, he has to play,” said Mourinho.A Juan Mata goal spared United from defeat in their first preseason game against Mexican side Club America with the sides having to settle for a 1-1 draw at Phoenix.last_img read more