Warriors’ Klay Thompson will start Game 4; should he have played Game 3?

first_imgKlay Thompson will play Friday night in Game 4 of the NBA Finals, Chris Haynes of Yahoo Sports reported.Thompson injured his left hamstring late in the Warriors’ Game 2 triumph. Though Thompson lobbied the coaching staff to play Game 3 on Wednesday, he was held out by coach Steve Kerr. Without Thompson, Kevin Durant and Kevon Looney, and despite Stephen Curry’s 47-point outburst, the Warriors lost 123-109 and are down 2-1 to the Toronto Raptors in the best-of-seven series.“The whole point …last_img read more

MTN launches R8.1bn shares scheme

first_imgMTN is implementing Zakhele, its BEE deal. (Image: Bongani Nkosi) MTN, the biggest mobile phone operator in Africa, has finally launched its R8.1-billion (US$1.1-billion) broad-based black economic empowerment (BEE) shares scheme in South Africa.This is welcome news for current and potential investors, as the deal has been on the cards for two years now and looked set to be plagued by further delays in July 2010, when it was announced there were “severe constraints in financial markets”.The name of the new BEE scheme is Zakhele, which means “built it yourself” in local Nguni languages. It came into effect on 30 August.MTN is inviting share applications from previously disadvantaged black South Africans, which by law includes African, coloured, Indian and Chinese citizens. Individuals and groups can apply for shares.The 4% equity deal will increase the group’s BEE ownership, which currently stands at 29.9% when combined with its other economic empowerment initiatives like the Asonge scheme facilitated by the National Empowerment Fund in 2007.MTN Zakhele is the largest empowerment deal in South Africa’s telecommunications industry history, following Vodacom’s R7.5-billion ($1-billion) BEE scheme in 2008. The Vodacom deal also targeted previously disadvantaged black South Africans and benefited the group’s partners, Royal Bafokeng Holdings and Thebe Investment Corporation.“MTN believes that broad-based BEE participation is important to its future success as a group,” MTN president and CEO Phuthuma Nhleko said in a statement.The group has supported black empowerment since 1994 and will seek to provide long-term and sustainable benefits to black South Africans, Nhleko said.“It is for this reason that we have structured the new MTN BEE transaction through an offer to the black public, acting as far as possible within the letter and the spirit of the codes and empowerment requirements for South African businesses.”Karel Pienaar, MTN South Africa managing director, said in July that the empowerment transaction “will enhance MTN SA’s BEE credentials and supplement other areas of the BEE scorecard such as preferential procurement, skills development, employment equity and enterprise development”.Black investors who qualify for the scheme are being offered shares at R20 ($2.70) apiece. The minimum investment amount is 100 shares, which is worth R2 000 ($270).MTN and the Public Investment Corporation have made 75-million shares available through the Zakhele scheme, which is planned to run for six years.MTN black employees will also benefitThe group said it will offer about 0.1% of its issued share capital to its Employee Share Ownership Plan to benefit BEE-eligible employees. Management and directors of the JSE-listed company will not be allowed to participate in this scheme.MTN is a big player in South Africa and creates stiff competition for other local operators like Vodacom and Cell C. It’s a multinational firm, operating in 21 African countries and the Middle East. In 2006 it had 40-million subscribers, and this number has been growing ever since.last_img read more

MV Suez row won’t hit Indo-Pak talks: Govt

first_imgThe government on Sunday downplayed the row between the Indian and Pakistan navies and ruled out any adverse fallout of the incident on the Indo-Pak foreign secretary talks scheduled in Islamabad on June 23-24.Over the past two days, Islamabad and New Delhi have exchanged charges on reported “dangerous manoeuvres” carried out by each other’s warships in the Gulf of Aden.It all started with Pakistani official protesting against aggression by INS Godavari towards PNS Babur, when the latter was escorting the freed vessel MV Suez to Oman.It has been learnt that Indian ships had earlier run into trouble with PNS Babur in January and November last year as well.However, senior officials in New Delhi sought to downplay the issue and ruled out any impact on the talks later this week, which India is approaching with “an open and constructive mind”.The talks are likely to result in the announcement of key confi-dence building measures (CBMs) in areas of nuclear security, trade and cross LoC connectivity.The government does not want to up the ante ahead of the bilateral talks after it decided last February to virtually resume the ‘composite dialogue’ process that was suspended as a mark of protest after the 26/11 attack.Firing from across the LoC and increase in infiltration attempts into J&K have been a common phenomenon ahead of high level talks between the two countries.Sources said foreign secretary Nirupama Rao will be going to Islamabad with “realistic expectations” and that the two sides would try to build upon theprogress achieved in the past on various issues.advertisementIt was also pointed out that cross-border terror aimed at India would be a key component of the dialogue.”Our concerns have not, in any way, diminished by the resumption of the dialogue…How can we not take up our concerns of terrorism? It is central to our concerns,” a senior source said.The government is also disappointed with the glacial pace of the ongoing 26/11 trial in Pakistan, as the judge was changed for the fourth time recently.Sources said India has provided all documents and evidence and sought a satisfactory closure to the case.”It is not behind us,” the source said, adding that Rao and her delegation will also discuss the larger conspiracy that has emerged in the trial of Pakistani-American terrorist David Headley who has testified in a Chicago court on the links between the ISI and terror groups and the spy agency’s role in the 26/11 attacks.For more news on India, click here.For more news on Business, click here.For more news on Movies, click here.For more news on Sports, click here.last_img read more