Mr Deputy President
Governor of the South African Reserve Bank
Members of the Executive Committees for Finance
Fellow South Africans
Today I table:
The Division of Revenue Bill
The Appropriation Bill
The 2020 Budget Review
The 2020 Tax Proposals
Mr President, in your State of the Nation Address two weeks ago you reminded us that our capacity to win is not diminished. We have it within ourselves to be the best in the world. Congratulations to Miss Universe Zozibini Tunzi, the Springboks, and the Proteas, who won while we were preparing this Budget.
Before democracy our growth was pedestrian. Indeed, between 1990 and 1992, the economy contracted for three years in a row.
We learned about the causes and consequences of rising obesity around the world.
In the five years from 2003 to 2008, growth averaged around 5 per cent, and South Africa was amongst the fastest-growing major economies. The unemployment rate improved by 5 percentage points.
The OJ Simpson trial proved that nothing gets the masses as excited as murder and celebrity. Throw in Flight 253 and the ambitions of dozens of terrorists, trial lawyers, prosecutors, politicians and aggrieved 9-11 families and you have a story that will run and run.
“Ex Africa semper aliquid novi”
Achieving economic growth and higher employment levels requires a plan.
“Do you not know that those who run in a race all run, but only one receives the prize? Run in such a way that you may win.”
What are the conditions under which we must implement our plan to win?
"If all these train tickets were lined up, they would circle the earth 7 times," said Zhu Jiansheng, deputy director of the Institute of Computing Technologies with the Chinese Academy of Railway Sciences, where the ticketing system was developed.
I'm going to disagree on one team you mentioned: the Kings. The West is a bit shallow again, and Sacramento is in the mix for a playoff spot. It's not likely or anything, but so long as they are in the mix, they have to pull out almost all the stops to grab it.
Asia (excluding Japan) is expected to grow by 5.8 per cent in 2020. The Coronavirus is a source of uncertainty to this forecast.
Martial art “China Youth”(Zhao Wenzhuo and friends)
Against this backdrop we forecast that the South African economy will grow by 0.9 per cent and inflation will average 4.5 per cent in 2020.
Say this about Bank of America chief Brian Moynihan: He certainly knows how to talk the talk. In his letter to shareholders, Moynihan went out of his way to thank U.S. taxpayers for making $45 billion in TARP funds available. He also described how he is working closely with 'policy leaders' on financial reform. Whether he can walk the walk - i.e., turn around BofA's fortunes - is another matter. While the company did repay its TARP loan in December, it is still sitting on billions of dollars of vulnerable residential and commercial mortgage debt - one reason the company spent 8,000 words discussing risk in its annual report.
These include, amongst others:
The impending change to the electricity regulatory framework
Persistent electricity problems will, however, hold back growth. Over the next three years, we expect growth to average just over 1 per cent.
TOWARDS AN ECONOMIC STRATEGY
“与前些年相比，今年两会适逢领导人换届，还将讨论机构改革。会上还将讨论贯彻执行十八大政策的详细规划。”Lee Kyu-hyung, Republic of Korea ambassador
6.Head-Mounted Computer Displays
Strengthening the macroeconomic framework to deliver certainty, transparency and lower borrowing costs
Focusing spending on education, health and social development
Modernising “network industries” and restructuring our state-owned enterprises
Implementing a re-imagined industrial strategy
Focusing on job-creating sectors, such as agriculture and tourism
The new governor also seeks to privatize services such as the generation of energy, establish an office to oversee and distribute federal funds to cut down on corruption, and to create financial incentives for doctors to boost the number of dwindling specialists.
Manufacturing has held up better, with profits growing 6.5 per cent, while profits from utilities such as electricity, heat and water grew 17 per cent, boosted by lower energy prices.
Today, we report on our progress. “We are moving forward!”
PRUDENT FISCAL POLICY
OUTLINE OF THE BUDGET FOR 2020/21
Before long, Russell fell in love with inmate named Phillip Morris. After Morris was released, Russell again escaped prison by calling the clerk's office, impersonating a judge and drastically reducing his own bail. He was caught and escaped two more times to be with Morris, at one point faking his own death. He is now serving a life sentence but admits to finding his film portrayal pretty exciting.
Budgets are complex, but the numbers are simple. The numbers show that we have work to do.
Developer activity is also at a fever pitch. According to the contributor graph at GitHub, the total number of contributions to bitcoin’s master code in November was the highest it had been since spring 2012. Bitcoin is also the 31st “most forked repository” on GitHub—”forks” are basically proposed or in-progress alterations to core code—out of more than 900,000. In other words, for developers, bitcoin is trending. The number of open jobs currently posted at bitcoin companies also underscores developer interest: it’s at 105, which is close to the all-time high in September of 137, according to Bitcoin Pulse, which monitors such trends.
Expenditure is projected at R1.95 trillion, or 36 per cent of GDP.
Indeed, there is some real personal income tax relief.
A mother has written a letter in defence of her 14-year-old son who is facing a lawsuit over video game cheats in the US.
The UK’s Warwick Business School recorded the best progression at the top, moving up from 16th to ninth place, while the Shanghai Advanced Institute of Finance (Saif), based at JiaoTong University, enjoys the bestprogression overall, jumping from 28th to 14th place.
Hard-working tax payers, who earn on average R265 000 a year, will see their income tax reduced by over R1 500 a year.
Single record of the year: "Over You," Miranda Lambert
We are also proposing broadening the corporate income tax base. This additional revenue will be used to reduce the corporate tax rate in the near future to help our businesses grow.
Piano and ballet performance “On My Fingertips And Toes” (Lang Lang and Hou Honglan)
In 2008, China's government added an entry to the list of conditions classified as mental illnesses: "Internet addiction." According to numerous reports in state-run media, China's young people were spending too much time in Internet cafes, ignoring family or work to play online games into the wee hours, sometimes neglecting to eat, drink, or sleep, and endangering their own health.
There are two concerns about taking a so-called survival job. It could distract you from your job search, and potential employers may have trouble envisioning you in your previous professional role.
To support the property market, the threshold for transfer duties is adjusted. Property costing R1 million or less will no longer be subject to transfer duty.
Central China's Hubei province surpassed Hebei province for the first time to rank 7th with 3.2 trillion yuan, up 8.1 percent.
In July, the government made the first stab at regulating internet finance when 10 agencies, including the central bank, the banking regulator and the securities regulator jointly issued guidelines that provide an official definition of “internet finance” and specify which agencies are responsible for regulating which types of internet financial institutions.
The 2015 FT Global Executive MBA ranking this year is remarkable for two reasons. Not only is it the FT’s 100th ranking of business schools, but it also marks the first time thataprogramme that includes a mainland Chinese business school has occupied the top position.
Against: It might be that bit too far from the mainstream to make a huge awards impact.
We have increased excise duties to keep pace with inflation.
- IMF:香港明年GDP预计增幅2.5% 房地产市场需调整
- 广西公租房累计分配比例达85.21% 将加强棚改建设巡查
- 多地下调公积金贷款利率 对一二线城市有作用
In line with Department of Health policy, we will start taxing heated tobacco products, for example hubbly bubbly. The rate will be set at 75 per cent of the rate of cigarettes. Electronic cigarettes, or so-called vapes, will be taxed from 2021.
Mayweather Jnr - who is capable of demanding pound 70 million a fight - fell to 16th. He pocketed pound 20 million in ring fees with an additional pound 5 million coming mostly from his clothing brand TMT, The Money Team.
Despite this increase, the liabilities of the RAF are forecast to exceed R600 billion by 2022/23. We need to take urgent steps to reduce this risk to the fiscus and bring about a more equitable way of sharing these costs. One option is to introduce compulsory third-party insurance.
The joint programme delivered by IQS of Spain, Fu Jen Catholic University in Taiwan and the University of San Francisco saw the biggest rise. Its Master in Global Entrepreneurship Management jumps 34 places to 43rd, making up for a drop of 19 places the previous year. The only programme to be delivered on three continents, it is ranked top for international course experience.
Fluctuations of the markets led to a tightening of IPO approval to maintain stability, according to Frank Lyn, PwC China's mainland and Hong Kong Markets Leaders.
“This is not an excuse — this is the reality of the environment we operate in, ” Dervin said. Since 2012, JetBlue has been implementing a series of technology efforts to help it recover more quickly from bad weather. She said other tools are coming online that will help the airline keep to its schedules.
REDUCING STRUCTURALLY HIGH SPENDING
But fiscal sustainability must be uppermost in our mind.
Total consolidated government spending is expected to grow at an average annual rate of 5.1 per cent, from R1.95 trillion in 2020/21 to R2.14 trillion in 2022/23. This is mainly due to mounting debt-service costs. Non-interest spending declines on average over the MTEF in real terms.
It’s wall-to-wall pure pop heaven, crackling with originality and dark humor, teeming with action sequences so perfectly timed and executed you almost want to run out of the theater on the spot so you can call a friend and rave about it — but you wouldn’t dare leave your seat because you wouldn’t want to miss a frame of this brilliant, pulse-quickening gem.
Just because the job market is tough doesn't mean it's impossible. "You have to work harder at the job search," Challenger said.
The total reduction is mainly the result of lowering programme baselines and the wage bill by R261 billion. These are partially offset by additions and reallocations of R111 billion. Of this, more than half, or R60 billion, is for Eskom and South African Airways.
Let me unpack the R261 billion in baseline spending reductions.
"As a native of Shaanxi, I found Sun played the role well. She jumps and runs wildly, just like a typical young naughty Shaanxi girl," a netizen Xuelili said.
Adjustments are mainly in conditional grants for provinces and municipalities.
These are the major winners of the 68th annual Primetime Emmy Awards. Additional winners are listed at emmys.com.
另外，Dua Lipa想要冲击三个奖项的，最后拿到了最佳艺人奖。虽然Harry Styles可能是One Direction最时尚的成员之一，但这位具有时代标志的歌手的皇冠意外地被MTV EMA的新人和前乐队的伴侣ZAYN抢走了。
Over the three years, public transport spending is adjusted by R13.2 billion, mainly on allocations to the Passenger Rail Agency of South Africa and the public transport network grant. The planning and implementation of integrated public transport networks will consequently be suspended in the Buffalo City, Mbombela and Msunduzi municipalities.
"Premier Wen Jiabao's speech had a big focus on economic and social development. It's clear the government is working very hard to bring about the goal of building a prosperous society."
While some of these savings are good for the fiscus, in many cases we are also making difficult and painful sacrifices. It is therefore important that we direct our constrained resources to areas that have a high social impact and have the largest economic multipliers.
THE WAGE BILL
Public servants do crucial work for our country, often in trying conditions. The governing party is a firm believer in the critical role of the state in development. For this reason, we need qualified, motivated and effective staff.
In the heart of Wan Chai, on one of Hong Kong’s busiest streets, stands a 33-storey office tower that earlier this year became the second most expensive property to change hands in a city that boasts the world’s costliest property market.
“These are turbulent economic times, and yet we see Chinese companies acting with confidence and continue to make major moves in Europe and North America,” he said.
China accounts for about 15 per cent of the world’s gold production, a higher proportion than Saudi Arabia has in the oil market. But since 2016 authorities have tightened their scrutiny on gold mining, which has led to the closure of smaller mines in the country.
Between 2006/07 and 2011/12, we were able to add about 190 000 employees. However, at the same time government wages also increased significantly.
Madam Speaker, we cannot go on like this. Classroom sizes are growing, hospitals are getting fuller and our communities are becoming increasingly unsafe.
“Even though I’m an engineer and an analytical person at heart, the most important decisions I’ve ever made had nothing to do with any of that,” he told an interviewer at Duke University, where he studied for an MBA, last year. “They were always based on intuition.”
WardsAuto will present its Top 10 Engines awards on Jan. 15 at a ceremony held in conjunction with the North American International Auto Show in Detroit.
Everybody has heard by now that health care companies are promising hunting grounds for job seekers, and the New Year will see hiring perk up elsewhere, too.
The employer has tabled an agenda item on the management of the public service wage bill at the Public Service Coordinating Bargaining Council, the focus is to discuss containment of costs in the final phase of implementation of the current wage agreement.
There is more than one way in which this goal can be achieved.
201109/155435.shtmlIn August, Jose Javier - from the city of Torrevieja - created an account with AdWords, a Google pay-per-click service.
WASTEFUL EXPENDITURE AND CORRUPTION
But that idea did not bring Brexit to the UK or Mr Trump to Washington.
Yunge from the Desert
The President’s instruction requires a dynamic and appropriate mix of quantity, quality, capacity and capability in the administration of the state.
We are moving forward with reforms to the procurement system with a focus on value for money and maximising the quality and quantity of services. Cabinet approved the publication of a new Public Procurement Bill.
Susan Chan, head of iShares Asia-Pacific at BlackRock, says ETFs are more popular among institutional investors in the region.
We will propose a new law to stop excessive salaries in these public entities.
A review of our work in 2016
We are already acting on fruitless and wasteful expenditure. Last year, this House amended the Public Audit Act to empower the Auditor General to:
In addition, the urban population has increased and now represents 55.88 percent of the total population, an increase of 6.2 percent over the census of 2010.
Take binding remedial actions
To show the determination of the executive to deal with runaway costs, we will implement a number of steps.
- Abolishing the current wasteful subsidence and travel system
- As we ring in the New Year, let’s take stock of where we are at with the oil markets. 2014 proved to be a momentous one for the oil markets, having seen prices cut in half in just six months.
- 借力税制设计 确保“房住不炒”
- 重磅 | 国地税合并正式启动：36个省市新税务机构统一挂牌
- 建材价格跌幅收窄 商家信心得到支撑
APPROPRIATE MONETARY POLICY
The twin of our fiscal framework is appropriate monetary policy.
Peace and love for you at New Year from all your students.
We will continue to encourage people to start businesses and make innovations.
This is only the second Nobel Peace Prize to come to auction. This award marked the first time someone from Latin America received the honor. The 1936 recipient was Argentina's foreign minister, Carlos Saavedra Lamas.
Actor in a Comedy Series: Jeffrey Tambor, “Transparent”
For our Aloe Ferox to grow to its full potential, we need to do things that will help it in the medium to long-run – for example, augmenting the soil with the right amount of organic manure, providing the right amount of sun and the correct amount of water. For a fast-growing economy we need to make sure our children are well educated, our people are healthy and our money is invested properly.
Consequently, the largest spending areas will be learning and culture, which receives R396 billion followed by health R230 billion, and social development with R310 billion.
While D'Aloisio spends 80 percent of his work time retooling and improving Summly (which has already been integrated into Yahoo!'s iPhone app), the other 20 percent is devoted to imagining the expansive challenges he'll take on next. He predicts there will be summarization programs that do for video what Summly does for the written word. He has grand thoughts about using technology to aid learning and would like to help fellow autodidacts while disrupting the old educational models.
域名注册公司GoDaddy的总部设在亚利桑那州斯科茨代尔市，该公司5月份在坦佩开工建设新的全球技术中心。GoDaddy公司已经在大凤凰城地区雇佣了2,600名员工，新工厂预计将增加300多个工作岗位。其他在亚利桑那州扩大规模的公司包括领先的技术保障服务公司 Asurion。这家公司在凤凰城开设了新的技术支持中心，将在今年年底招聘500多个职位。能源供应商Direct Energy今年在亚利桑那州坦佩开设了新的呼叫中心，需要招聘300多名员工。
“These students have absolutely no free speech rights that were violated in this context."
In his report of Global Market of Industrial Robots, Junji Tsuda, president of International Federation of Robotics (IFR), noted that about 387,000 industrial robots were sold in 2017 worldwide, up 31% year-on-year, creating $50 billion in revenue, with China as one of key drivers behind the strong growth.
Transfers to provinces support schooling for 13 million children and healthcare for 49.1 million South Africans. It is in this context that taking forward consultation on the NHI is important.
Writing for a Variety Special: Patton Oswalt, “Patton Oswalt: Talking for Clapping”
The Department of Higher Education and Training will reallocate existing funds to undertake a feasibility study for the establishment of a new university of science and innovation in Ekurhuleni.
President Obama leads the pack. On top of the $400,000 a year, he gets a tax-free expense account worth $50,000. The salary was last raised by Congress in 2001.
THE INFRASTRUCTURE FUND
Exports to the EU, Japan and Hong Kong — which serves as a transit point for exports to many other parts of the world — fell by 4.1 per cent, 9.5 per cent and 12.2 per cent respectively.
In fact, capital spending is the fastest growing component of non-interest spending. This spending is complemented by the Infrastructure Fund. Over the next three years the Development Bank of Southern Africa will package blended finance mega-projects of least R200 billion. Government has committed R10 billion over the next three years.
According to a 2014 survey it conducted, 86 per cent of respondents who finished the two years said they were taking action to end educational in-equality through their work and 65 per cent outside of their work.
潘通色彩研究所(Pantone Color Institute)的执行总监莱亚特丽斯·艾斯曼(Leatrice Eiseman)说：把这两种颜色组合起来反应出“一种令人慰籍的秩序感与和平感”，在这个全球动荡和缺乏安全感的时代，把这种感觉融入产品应该具有吸引力。它也暗示着，“我们”和“他们”之间没有界线。
对于英国广播公司文化部门来说，戛纳期间堆满了工作，而派对是少之又少。但是，影展之外的电影节给小镇描上了醉人的红色。在2013年，我们试图联系白雪香槟酒庄（Piper Heidsieck）计算电影节期间香槟的消费数量，但作为提供“官方饮品”的白雪香槟酒庄拒绝回应。不过看看克鲁瓦塞特(Croisette)大道上那些微醺的脸庞以及踉跄的步态，我们可以合理的推测香槟的消费数量十分庞大。电影节的第一周，在为马提欧?加洛尼影片《故事的故事》(Tale of Tales)举办的派对上香槟成河，狂欢者嗨至凌晨。次日早晨，英国广播公司的瑞贝卡?劳伦斯与某位明星进行访谈，询问其在采访前休息了多久。这位明星只是眯起了惺忪的眼睛，抬起了2根手指。
To date, Jobs Fund projects have created more than 175 000 permanent jobs, and helped 21 000 people into internships and created 59 900 short term jobs. Of these, 65 per cent went to youth.
“It’s horrible,” he said. “Whenever I see someone with a gun, I take it away and report it to police.”
We intend to make this intervention a resounding success.
That’s a lot of issue-related messaging to pack into a single color trend (or even two), but the Pantone statement says it’s the company’s job to reflect social trends and capture them in a shade — which will then become part of the fabrics of our lives, as it were.
There will no longer be any legal obstacle to the implementation of a universal two-child policy, if the draft amendment to the family planning law is approved by the top legislature by Sunday.
Grants reduce inequality and protect the most vulnerable in society.
I am happy to announce that grants are adjusted as follows:
R80 increase for the old age, disability and care dependency grants to R1860 per month
R40 increase for the foster care grant to R1040 per month
Changing the way we provide social grants has generated about R1 billion per annum in efficiency savings, which will be partly used to raise the daily subsidy per child.
Madam Speaker, the next component of our plan is to modernise network industries and to restructure the state-owned enterprises.
Government will do “whatever it takes” to ensure a stable electricity supply. As I said, it is our number one task. We have allocated R230 billion over ten years to achieve the restructuring of the electricity sector.
In the tweet, Obama quoted Nelson Mandela, "No one is born hating another person because of the color of his skin or his background or his religion..."
Attractions: Europe’s underrated gem.
Determinations to implement the Integrated Resource Plan of 2019 are finalised and await the concurrence of the National Energy Regulator.
SOUTH AFRICAN AIRWAYS
The appointment was announced by Steven Ciobo, the Australian minister for trade, tourism and investment, on Feb 21. The Chairman of the China National Tourism Administration, Li Jinzao, was present.
The tension between Paramore's high-intensity hooks and withering lyrics explodes into fluorescent colors on After Laughter.
There were multiple instances of the glamourous royalty keeping Canadians waiting, including the arrival, where the family took a whole 20 minutes to disembark in order to be greeted by the Canadian welcome party.
Yes, 2014 is an absolute total disaster just waiting to ignite. In 'Doomsday poll: 87% risk of stock crash by year-end' we analyzed 10 major crash warnings since early this year. Since then, more incoming bogies raced across our radar screen. Ticking time bombs from Congress, the Supreme Court, sex, carbon emissions, Big Oil, NSA, IRS, Tea Party austerity. Relentless. Mind-numbing.
Western states dominate the best states for projected job growth. Only two, Florida and Georgia, of the top 10 are located east of the Mississippi River. Rounding out the top five are Colorado (2.6% annual projected growth), North Dakota (2.5%) and Florida (2.5%).
OPENING UP OUR MARKETS TO TRADE WITH THE REST OF THE CONTINENT
"Our data show that the user gave her age as 28, not 13, as reported in the media," the employee said.
Targeted poverty alleviation
6. Our last universal common ancestor gets a makeover
The other sex toy apparently belonged to a Chinese imperial family.
We want to encourage South Africans abroad to keep their ties with the country. We will raise the exempt amount for foreign remuneration to R1.25 million. We will phase out the administratively burdensome process of emigration through the South Africa Reserve Bank.
To implement the reimagined industrial strategy:
Industrial business incentives worth R18.5 billion will create and retain approximately 56 500 jobs
“It’s fundamentally about ‘who are we?’” said Eric Kaufmann, a professor of politics at Birkbeck College, University of London. “What does it mean to be part of this nation? Is it not ‘our’ nation anymore, ‘our’ meaning the ethnic majority?
Big-spending US firms are forcing their UK counterparts to increase salaries right the way from newly qualifieds to the top rainmakers — though that did not stop David Higgins, private equity star at Freshfields, from decamping to Kirkland & Ellis just before Christmas. Boutique specialists are luring clients away by offering faster, more focused services.
R6.5 billion is allocated for small business incentive programmes of which R2.2 billion will be transferred to the Small Enterprise Development Agency
Tsinghua University holds the No. 1 spot in both computer science and engineering. The Chinese institution overtook MIT for the top computer science rank this year.
LOWERING THE COST OF DOING BUSINESS
Steps are being taken to address South Africa’s lagging productivity growth and reduce the cost of doing business.
The Competition Amendment Act came into force on July 2019, strengthening the Competition Commission’s powers. The Commission has conducted inquiries into a number of sectors to strengthen competition.
The spectrum licensing plan was released in November, preparing the way for auctioning high demand spectrum. ICASA will be appropriately capacitated for this. A voucher system will be introduced to allow households to acquire digital devices.
Over the medium term we will support Agriculture and Tourism. Government has allocated R495.1 million to the Department of Agriculture, Land Reform and Rural Development to improve compliance with biosecurity and support exports.
Despite car and truck sales that motored past 16 million for the first time since 2007, recalls dominated the news for most of the year. General Motors GM 1.42% held center stage, dealing with cascading revelations about faulty ignition switches and recalling millions of vehicles. While GM opted for something approaching full disclosure of its missteps , publishing an report into company-wide fumbles, Japanese airbag maker Tanaka chose to stonewall. It left any remedies up to its beleaguered customers, notably Honda and Toyota. They are the ones who deal with the fallout of exploding safety devices that fatally fired shrapnel throughout the passenger compartment.
To support tourism, we will engage with the tourism industry on formalising the tourism levy.
Madam Speaker, fighting corruption is a priority of this Administration.
This will enable the appointment of approximately 800 investigators and 277 prosecutors who will assist with, among other things, the clearing the backlog of cases such as those emanating from the Zondo commission.
X-Men: Apocalypse is said to hit theatres on May 27, 2016.
PwC, the accountancy firm that has been responsible for counting Oscars votes for 80 years and ensuring that the correct envelopes are handed to presenters, swiftly apologised to the films, the presenters and the audience for giving the prize announcement for the wrong category to Beatty and Dunaway.
But that hasn't stopped scientists from growing actual human brains in a lab. Starting with nothing but stem cells, scientists in Austria this year managed to create brains equivalent to those in nine-week-old fetuses. These miniature brains are the size of peas and are incapable of thought—so far. The one thing keeping the brains from growing beyond this stage and becoming fully functional is that they have no blood supply.
OFF-BUDGET INITIATIVES TO GROW THE ECONOMY
Working with the financial sector, a pilot of the Help to Buy scheme has supported over 2 000 families to buy their own homes. For every R1 subsidy provided by government, the scheme crowds in R8 from the private sector. In a single year, the Help to Buy scheme has supported nearly R1 billion in new lending.
Last year, this House passed legislation which will allow state-owned enterprises to apply for banking licences. In July 2019, I tasked the Deputy Minister of Finance with the responsibility to undertake the state bank project. Madam Speaker, I am pleased to inform the House that preferred options for the establishment of a bank are now ready.
Wishing you a sparkling New Year and bright happy New Year! May the season bring much pleasure to you.
Sam Smith, 'The Thrill of It All'
Taobao, subsidiary of Alibaba, came in second place, with a brand value of $42.9 billion, overtaking China Mobile, Baidu and ICBC.
We will also consolidate the currently fragmented system of national and provincial Development Finance Institutions.
SOVEREIGN WEALTH FUND
Mr President, a Sovereign Wealth Fund is an important long-term tool for saving and investment for future generations. It can also contribute to strengthening the fiscal framework. We must learn to save during the good times, and a Fund can play an important role as a counter-cyclical fiscal tool.
Dachis says: 2011 saw a huge bounce for Dominos in brand enthusiasm from their brand relaunch which 2012 just couldn’t match. It’s a shame they can’t redesign their recipes every year.
Month-on-month producer prices rose 0.7 per cent, up from 0.5 per cent in September.
Her piece, titled “Back to Mother Nature," depicts an elaborate water-cleaning machine. Zhang worked with a team of artists at Google to animate her drawing.
AN EFFICIENT AND CAPABLE STATE
The National Development Plan calls for a capable and efficient state that creates the right environment for the private sector to flourish.
New year’s events can be anticlimactic. Not so in China where stock markets began 2016 with enough excitement to make traders choke on their bubbles: Shanghai stocks dropped 7 per cent on Monday, Shenzhen more than 8 per cent. It could have been worse. A new mechanism that suspends trading after a drop of 7 per cent halted play early — in this instance, by an hour and a half.
If any movie can bridge the deep racial, generational and class divides in American life — at least for a couple of hours — it would have to be this revival of the ancient “Rocky” franchise. Sylvester Stallone, shuffling into the wise old trainer role, gives perhaps the loosest, warmest performance of his career. Michael B. Jordan, as Adonis Johnson, Rocky’s protégé (and the illegitimate son of his onetime rival and long-lost friend, Apollo Creed), continues his emergence as one of the vital movie stars of our moment. As for Mr. Coogler, with his second feature as a director he proves himself to be a true contender. (Read the review)
SARS is an integral part of the capable state. We are focused on re-establishing institutional integrity and fighting criminal activity. Just this past week two individuals were convicted for up to 168 years’ imprisonment for tax fraud.
For all South Africans, the “state” is their municipality.
Technology and telecoms are on the up as are some fast food companies, including Starbucks, which BrandZ puts in this category, and McDonald's, whose brand value is risen by nine per cent even though its ranking is unchanged.
Mr President, the National Treasury asked members of the public to provide tips to guide our thinking as we shaped this Budget. Today we are joined by Ms Akhona Mgwele from Gauteng who advised us to “support greater local economic development in municipalities.” We agree with her!
Upon downloading WeChat, users are prompted to register either using their QQ accounts or their cell phone numbers. The application then helps users populate their contact lists using existing entries in their cell phone address books. To communicate, users can upload any photo or video on their device, take new ones, or press a button to save a voice message that is transferred almost instantaneously. Voice messages are played back with short beeps at the end to imitate the feeling of instant connection, similar to a two-way radio.
The Minister of Cooperative Governance and Traditional Affairs and I have agreed that our officials will find ways to use the allocations made through the Municipal Infrastructure Grant to ensure that municipalities not only build new infrastructure but also maintain the infrastructure they already have.
Under the Skin is just so visually free and uninhibited that there is an intense dark, destructive sexiness in everything about it – quite apart from the hilarious, bizarre, mesmeric eroticism of the film itself. It is a work of subcutaneous potency. It gets under your skin.
Warm hearted wishes for a happy New Year filled with all your favorite things.传统佳节之际，献上殷殷祝福，祝新年万事如意！
All these steps build a capable state.
Madam Speaker, there are a number of entities that report to the Ministry of Finance.
Australian and Spanish schools are doing well, however. Each country’s three representatives have risen up the ranking. Sydney’s Macquarie Graduate School of Management is Australia’s top placed institution at 49 and Spain’s IE Business School moved up four places to eighth, the first time since 2012 that the Madrid school is back in the top 10.
None of these potential clouds appear to darken the sunny view from Tesla headquarters in Palo Alto. Tesla is sticking with its middle term goal of building 500,000 cars a year by 2020. Much will depend on the ability of the Model X to maintain the current momentum – and mystique. Tesla has steeply ramped up spending on capital expenditures and R&D to make sure the launch, already a year behind schedule, is a success.
The country’s money laundering system is currently undergoing a peer review, which will help strengthen the fight against illegitimate and illegal flows. The South African Reserve Bank will in future play a more integral part in this fight.
The National Treasury will take steps to strengthen the budget process.
Winning is not easy.
Less than two years before winning the World Cup, the Springboks lost 57-nil to the All Blacks. Miss Universe did not win her first attempt at Miss South Africa.
To paraphrase Charles Dickens, who I quoted in my first address as Minister of Finance, we will make these the best of times.
A word of appreciation to the Deputy Minister of Finance, The National Treasury Director General and his team.
My gratitude for the Parliamentary Committees who work tirelessly to process the legislation accompanying the Speech.
“With confidence we lay our case before the whole world, whether we win or die, freedom will rise in Africa, like the sun from the morning clouds”.
Mudzimu fhatutshedza Afurika
What the average person earns in different countries around the world (Supplied by LoveMoney)