“Last year there were 3.6-million people who had been online for five years or more. By 2015, that figure will be 6.8-million – almost double the potential e-commerce market of today.” Online retail in South Africa has entered a phase of sustained acceleration, according to research recently released by World Wide Worx. SAinfo reporterWould you like to use this article in your publication or on your website? See: Using SAinfo material Internationally, according to global online retail data analysed in the report, growth slowed in most regions during the global financial crisis, but did not turn negative: total sales never fell anywhere in the world. 10 August 2011 Online retailers are even more bullish about 2011, with the industry consensus pointing to 40% growth this year. This will represent the highest rate of growth for online retail in South Africa in almost a decade. “This dramatic rise in online retail comes in the wake of an ongoing increase in the number of experienced Internet users in South Africa,” World Wide Worx MD Arthur Goldstuck said in a statement this week. In 2010, traditional, physical retail in South Africa reached R561-billion, according to Statistics South Africa. This means that online retail still makes up less than half a percent of total retail in SA: a mere 0.36%. At the same time, however, the growth rate of online retail in South Africa in 2010 was four times that of physical retail: 30% versus 7%. The figures indicate that, globally as in South Africa, online retail is recession-proof for now, while it still makes up a small proportion of total retail worldwide. International online retail Industry estimates for the total value of global online retail in 2010 come to an average of about US$545-billion, up from $469-billion in 2009. “This shows us that online retail growth represents not a rise in shopping activity, but rather a shift in shopping activity, from the physical space to the online space,” said Goldstuck. Highest growth in a decade The Online Retail in SA 2011 study shows that the total spent on online retail goods in South Africa in 2010 passed the R2-billion mark for the first time. It reached R2.028-billion, growing at 30% over the previous year.
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An event meant to honour India’s Olympic heroes turned out to be chaotic. It was an eventful day for London medal winners who hopped from one function to the other, but the felicitation by the Sports Ministry at the National Stadium left a lot to be desired.It had all the makings of a hastily arranged programme without much thought going into it. One wondered why the stadium was not used for the venue, and instead a makeshift dais was put up near the gate. Hundreds of people strolled in without any security checks, making it a nightmare for police officials. Youngsters enrolled in the “Come and play scheme” of the Sports Authority of India and schoolchildren were called to attend the function. Besides, fans got too close to the dais, giving security officials a headache.Many of the athletes who were part of the India’s Olympic contingent had no place to sit and even the coaches were left to rue the mismanagement. Boxers Vijender Kumar and Manoj Kumar left in a huff while the hockey team quietly moved to a corner.”This isn’t the way to organise an event of this scale. We were felicitated after the Commonwealth Games at the same venue but that happened inside the stadium not in an open area like this,” said one of the athletes, part of India’s contingent in London.”It was a completely chaotic function. This could have been a security issue for everyone present here,” he added.Silver medallists Sushil Kumar and Vijay Kumar, bronze medal winners Yogeshwar, Saina Nehwal, MC Mary Kom and Gagan Narang all wore broad smiles as they were greeted by ministry officials. They were later taken in open jeeps to the Amar Jawan Jyoti at Indian Gate where they paid floral tributes to the martyrs. All the while the crowd followed them along with a strong media contingent.advertisementAt the stadium, Maken handed cheques of Rs30 lakh each to the silver medallists while the bronze medalists received Rs20 lakh each. Maken said that the government would continue its support to the athletes under the ‘Operation Excellence’ 2010 scheme.”We aim to win 25 medals at the 2020 Olympics. We will provide all assistance,” he said.A faux pax during the event spelled embarrassment for the medallists. Eyebrows were raised, jokes did the rounds when the master of ceremonies called Saina Nehwal ‘Sania Nehwal’.That was not all. Yogeshwar Dutt was welcomed as ‘Yogendra Dutt’, shooter Joydeep Karmakar was identified as an ‘archer’ and Gagan Narang’s bronze medal changed colour to ‘silver’. The athletes somehow maintained their poise.Wrestling Federation of India president Brij Bhushan Sharan Singh slammed the ministry. “This is not the way to treat the national heroes and their family,” he told Mail Today. “There was no place to sit. There were four disciplines that earned us medals, but the names of federations were not mentioned,” he said.
zoom Due to the weaker rates seen in the third quarter of 2016, Bermuda-based chemical tanker owner and operator Team Tankers International Ltd. reported a net loss of USD 4.2 million, compared with a net profit of USD 7.4 million in the same quarter a year earlier. Net loss in the quarter was mainly attributed to lower average time charter equivalent rate, which was at USD 10,926 per day in the three-month period ended September 30.During the quarter, the company completed the sale of the 19,822 dwt stainless steel ship Sichem Contester, the 13,153 dwt coated ship Sichem Edinburgh, and the 44,640 dwt coated ship Siteam Anja, which resulted in a combined net gain of USD 0.4 million.Additionally, two vessels were dry docked and one completed an in-water survey IWS. Four dry dockings and two IWS are scheduled for the remainder of 2016.“With the vessel disposals in the 3rd quarter, we have now completed the strategic realignment of the Team fleet. Even though the freight environment in our industry has been challenging, Team has approximately USD 100 million of cash versus USD 97 million of debt and therefore has one of the strongest balance sheets in the publicly traded shipping universe,” Hans Feringa, Team Tankers’ CEO, said.“With very low leverage, Team is well-positioned to capitalize on strategic opportunities that will drive further consolidation of the chemical tanker industry,” Feringa added.At the end of September 2016, Team Tankers’ fleet consisted of 42 vessels, of which 32 were owned, 1 was a financial lease and 9 were classified as operational leases.
Chennai: An army officer was shot dead on Tuesday at Pallavaram barrack here by a rifleman, who later killed himself for allegedly being punished for “lethargic attitude in duty”, police said. A senior official said the incident took place at around 3 AM on Tuesday. The rifleman committed suicide by shooting himself, he said. “We suspect that the rifleman was emotionally worked up after the Havildar punished him for his lethargic attitude in duty,” the officer told PTI. Defence sources said the matter was under investigation.