Joe Ragland Leads Lokomotive on Winning Streak

first_imgAmerican -Liberian Joe Ragland (in red jersey) who obtained his Liberian citizenship in 2012 in in action for Lokomotive Kuban in the EuroCup (photo credit: Lokomotive Kuban) Liberia-born Joe Ragland of the United States on Wednesday led Lokomotive Kuban to their fifth unbeaten match in Group C of the ongoing EuroCup Basketball competition after defeating Partizan NIS Belgrade 93-83.Ragland led the Lokomotive by scoring 23 points and 5 assists after they won their fifth unbeaten match in the European basketball tournament. Before the match against Partizan, Lokomotive defeated Retabet Bilbao Basket 102-86 where Ragland scored 12 points and 4 assists.Wednesday’s match was the 27-year-old fifth’s appearance for Lokomotive in the EuroCup since joining the basketball club in July and his 21st appearance in the European tournament.The 23 points scored by Ragland on Wednesday means he has so far scored 93 points, 26 assists, and 6 steals for Lokomotive out of  five games in the EuroCup.Prior to his move to Locomotive Kuban, Ragland played 16 games in the EuroCup for Italian side FoxTown Cantu and recorded 235 points, 83 assists and 15 steals.Lokomotiv Kuban is seated top of Group C after securing five wins out of five games. They will be hoping to extend their unbeaten run on November 15 when they take on Limoges CSP.The Russian club last won the EuroCup in 2013 after defeating Uxúe Bilbao of Spain 75-64.In the domestic league in Russia, Ragland also led the team in their second home match by scoring a game point of 16 and 3 assist after Lokomotive won Nizhny Novgorod 94-64. He has so far scored 46 points out of 4 games in the VTB United League.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

Reliance Jio launches 4G services but only for Reliance employees

first_imgReliance Jio on Sunday evening launched its 4G services at an event in Mumbai, but it will be available to only Reliance employees as of now. The public rollout is expected to begin in March-April 2016.The launch had already been deferred twice, apparently because Mukesh Ambani was not happy with the service being offered. As of now, Reliance 4G’s peak speed, as reported in field trials by Credit Suisse, is 70 Megabits per second (Mbps), which translates to downloading a 700 MB video file — the maximum amount of data that can be put on a CD — in 80 seconds.However, other sources say the usual speed is in the 15-30 Mbps range, meaning the entire contents of a full CD can be downloaded in approximately 6 minutes and 15 seconds in the lower limit, and about 3 minutes and 6 seconds in the upper limit.Interestingly, the Reliance Industries chairman has managed to rope in Shah Rukh Khan, the erstwhile brand ambassador of Bharti Airtel, to endorse his product. Airtel is one of the biggest competitors of Reliance in the 4G space, having heavily advertised the service over the past few months to capture a majority share of the market.In a glittering event where performances by Shah Rukh Khan and internationally-acclaimed music composer were the highlights, no one missed the significance of the presence of Mukesh’s brother Anil, his wife Tina and their two children.A statement from RIL said: “By throwing open the Jio services to all its business partners, and its vast number of employees and their families spread all across India, RIL will be making the optimal use of human resources to ensure that the last and the slightest wrinkle would be smoothed out to perfection before Jio launches its all-India commercial services.”The launch also saw Reliance pushing its Lyf brand of phones with the connection.last_img read more

What made Idea Cellular post Rs 12845 crore loss in Q3

first_imgIdea Cellular’s Managing Director Himanshu Kapania speaks during a news conference to announce the company’s quarterly results in Mumbai October 24, 2013.Reuters fileIndia’s third largest telecom company, Idea Cellular on Wednesday posted a loss of Rs 12.84 billion (Rs 1,284.5 crore) for the quarter ended on December 31, 2017.Idea said a sharp cut in call connect charges and competitive tariff rates among telecom companies are the reasons for the loss.Kumar Mangalam Birla-owned telecom operator had registered a loss of Rs 3.84 billion (Rs 383.9 crore) in the year-ago period, according to its regulatory filing, reports PTI.It added that the revenue from operations came in at Rs 65.1 billion (Rs 6,509.6 crore) for the quarter ended December 2017, almost 25 percent lower than Rs 86.63 billion (Rs 8,662.7 crore) in the same period the previous year.The company pointed out that 57 percent sharp decline in IUC (Interconnect Usage Charges) settlement rates negatively impacted Idea’s Revenue and EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) for this quarter by Rs 8,200 million (Rs 820 crore) and Rs 2,300 million (Rs 230 crore) respectively, the news agency reported.The telecom company gave hints about the merger plans with Vodafone India. Idea Cellular said that the merger is awaiting final regulatory approval and expected to complete in the first half of 2018. The proposed entity will create India’s largest telecom company by revenue and subscriber base. Last week, Reliance Jio posted a net profit of Rs 504 crore, in three months ended in December, the company announced.last_img read more

People wont be granted visas just to come and live Mahathir

first_imgProspective buyers look at a model of the development at the Country Gardens` Forest City showroom in Johor Bahru. Photo: ReutersMalaysian prime minister Mahathir Mohamad on Monday declared that foreigners will not be granted visas to live in the giant Forest City real estate project on the country’s southern tip, a major threat to the marketing strategy for the development. It is not his first broadside against the plan by Chinese developer Country Garden Holdings Co to create a new city that was envisaged to eventually house 700,000 people on reclaimed land near Singapore, but it could be his most damaging. The company has been targeting foreigners more than Malaysians for sales of the apartments.A top official at the project told Reuters last week that in the weeks immediately after 93-year-old Mahathir came back into power, through a shock election victory in May, demand for the apartments had weakened, and that the uncertainty remained a concern.Mahathir’s latest comments are likely to exacerbate those concerns.“One thing is certain, that city that is going to be built cannot be sold to foreigners,” Mahathir said at a news conference on Monday in Kuala Lumpur in response to a question from Reuters. “We are not going to give visas for people to come and live here.”Mahathir, who was Malaysia’s leader from 1981-2003, said the government’s objection was “because it was built for foreigners, not built for Malaysians. Most Malaysians are unable to buy those flats.”Country Garden Pacificview Sdn Bhd, the joint venture between Country Garden and the Johor state government that is developing Forest City, said in a statement it is in touch with Mahathir’s office as it seeks clarification. It said it believed Mahathir’s comments “may have been taken out of context in certain media reports” as they do not correspond with the content of a meeting between the prime minister and Country Garden Holdings Chairman Yeung Kwok Keung.In that meeting on 16 August, Mahathir “reiterated that he welcomes foreign investments which could create employment opportunities, promote technology transfer and innovations that could benefit Malaysia’s economic growth and job creation,” Country Garden Pacificview said.It also said that it has complied with all Malaysian laws and regulations concerning approvals to sell to foreign purchasers.Shares in Hong Kong-listed Country Garden, which rose as much as 3.9 per cent on Monday morning, trimmed their gains to 2.5 per cent after Mahathir’s comments.Country Garden Chinese buyers now make up about two-thirds of the owners of the Forest City apartments that have been sold so far, with 20 per cent from Malaysia and the rest from 22 other countries including Indonesia, Vietnam and South Korea.Mahathir had capitalised on popular disquiet about Chinese investment pouring into Malaysia during his election campaign. He even suggested in a speech last December that he hoped Forest City would become an actual forest with baboons and monkeys as residents, according to local media reports.Since becoming prime minister he has put the brakes on a number of China-backed projects, including the $20 billion East Coast Rail Link project and a natural gas pipeline project in Sabah. Plans for a high speed rail link from Kuala Lumpur to Singapore, which was expected to be a big boost to the Forest City project, have also been suspended.“GHOST TOWN” QUESTIONSForest City’s sales have picked back up in recent weeks, and the developer has been seeking to change the project’s image. Country Garden is trying to make it appear more Malaysian and less Chinese, according to the official, Ng Zhu Hann, who is head of strategy for Country Garden Forest City.Country Garden is also willing to acknowledge for the first time that if demand does falter it will have to slow down the building of the development. It is eventually intended to be a $100 billion city, with apartment blocks, houses, office towers, hotels and shopping centres on four man-made islands.“If the demand is there, we will build. If it’s not there, we will slow down,” Ng said in an interview at the gleaming Phoenix Hotel, one of the finished new structures on the first of the reclaimed islands. “So there’s no worry of a ghost town, oversupply – If the demand is not there, we won’t be building.”Mahathir’s victory is the second big threat that the development – which is a partnership between Country Garden and the Sultan of Johor – has faced in the past couple of years. Beijing’s moves to stem capital outflows imposed after the yuan plummeted in late 2016 hurt mainland Chinese demand for the apartments.“CHINESE STIGMA”Ng said what he called the “Chinese Stigma” is the biggest hurdle facing the project.“What the Malaysian government does not want is a Chinese enterprise coming to Malaysia, taking government contracts, affecting the project opportunities of local developers, making the money and going back,” Ng said.This has prompted a change in hiring strategy as Forest City seeks to recruit more Malaysians like Ng into senior management positions.“My predecessor was a Chinese. In the past, our management had only one Malaysian, which was head of legal. This (my) position is usually held by a Chinese, but now I’m here,” said Ng, who is ethnic Chinese but from Malaysia.Ng said that the political uncertainty had hurt investor sentiment.“It’s not that people don’t want to invest, but people are now: ‘Let’s wait and see. What if they change their policy again?’ Political stability is one, policy stability is another.”After Mahathir’s comments, Ng defended the local nature of the project.“There are many Malaysians in this project,” Ng told Reuters. “1,100 out of 1,545 of the total workforce are Malaysians.”SKYSCRAPERS ABOVE MANGROVESAt the end of a thirty-minute drive from the crossing from Singapore through palm oil plantations and jungle, the once sleepy town of Gelang Patah known for its mangroves and fishing villages now has a skyline of skyscrapers.This futuristic development is only half of the first of four man-made islands envisioned for the development – only 2.7 square kilometres of the planned reclamation of 20 square kilometres.Work to build higher rise residential towers, town houses and commercial buildings is continuing full steam, with dozens of heavy duty trucks carrying sand and materials while cranes dot a skyline that is growing taller and denser as high-rise apartments rapidly approach completion.Forest City is barely inhabited, with only a handful of staff living at its service apartments and guests at its hotel.But earlier this month, an international school opened its doors to the first 60 students – mostly from China and also from South Korea – to its 22-acre campus planted with “vertical gardens,” an Olympic-size pool and three yoga studios.They will be knocking about the Shattuck St Mary’s school campus designed to accommodate 1,000 students as construction roars on in the backdrop.Liang Ri Sheng, 44, who runs an electrical services company in Guangzhou, said he hopes Forest City will be the gateway for his son to an international life, riding on the strength of China’s Belt and Road regional infrastructure push.“It will give both eastern and western exposure for my son. I think it’s good for my son’s growth and development,” Liang told Reuters. He was speaking before Mahathir’s latest remarks.His family will be one of the first 482 to get the keys to their new homes by September.Another buyer, Jackie Chan (not related to the actor of the same name), who bought an apartment in Forest City last year for around $140,000, said he hadn’t expected such a twist.“When I bought it I was betting on long-term appreciation and didn’t expect there would be such a policy risk. But I’m not aiming for their immigration visa so there’s no impact for me. The investment amount is small so I’m just going to keep it as a vacation home,” said Chan, who lives in Hong Kong.last_img