Defending champions Camperdown High and Gaynstead High senior teams remained unbeaten this season as both teams made it two from two in Group Two of the second round of the ISSA urban area schoolgirls netball competition, played at the Leila Robinson Courts on Wednesday. Both Camperdown and Gaynstead matches were called off after the third quarter due to rain. Both teams were leading at that stage, and based on ISSA’s netball rules, were declared the winners. Camperdown, led by goal shooter Idara McCarty and goal attack Ramona Lawrence, scored an easy 38-16 win over the previously unbeaten St. Catherine High Gaynstead got by Tarrant 37-14. JUNIORS TWO FROM TWO FOR NORMAN MANLEY – St Catherine vs Norman Manley – Queen’s vs Wolmer’s -Campion vs Holy Childhood -Papine vs St Hugh’s All four start at 2 p.m. – Camperdown vs Gaynstead – St Jago vs St Andrew Technical Both at 2:45 p.m. It was also two from two for Norman Manley High in Group One as their game was also called off after the third quarter. They were comfortably ahead of Immaculate High 31-10. In the only senior match to be completed on the day, former champions St Hugh’s High had a narrow 32-30 win over Tivoli for their first win in Group One. Two other matches will have to be replayed. Excelsior were leading Wolmer’s 20-9 and Queen’s were ahead of Penwood 10-1 when the games were halted by the rain at halftime. Defending junior champions Gaynstead continued their impressive form. They had a big 58-3 win to make it two from two in Group Two. St Hugh’s also picked up their second win in a row in the group after beating St Andrew Technical 25-23. In Group 1, St Catherine High whipped Wolmer’s Girls 25-12, and The Queen’s School easily beat Campion College 31-20, while it was a 29-29 tie between Holy Childhood and Norman Manley. The third set of matches in the second round will continue today at the Leila Robinson Courts. 2:45 p.m: Excelsior vs Norman Manley 2:45 p.m: Queen’s vs Wolmer’s 3:30 p.m: Camperdown vs Gaynstead 3:30 p.m: St Catherine vs Tivoli 3:45 p.m: Penwood vs Immaculate 3:45 p.m: Tarrant vs St Hugh’s – R.G. SENIORS
The crisis brewing within the Indian economy has gained unanimous acceptance by now. Even the latest annual report of the RBI for the fiscal year 2018-19 (or FY19) confirmed that the Indian economy has indeed hit a rough patch. The GDP growth rate of the economy has slipped to 5 per cent in the first quarter of FY20, the lowest in over six years. This is an indication of tougher times ahead. Be it the recent collapse of the automobile sector or the rising number of non-performing assets (NPAs), sluggish consumer demand or failing manufacturing sector; all have a hand in this deceleration of growth rate. Also Read – A special kind of bondThe spurt in instances of job losses from automobile manufacturers to biscuit-makers has led to the general acceptance of the downturn. This is the third instance of an economic slowdown for India in the past decade after the ones that began in June 2008 and March 2011. The technical term for the same is a growth recession. A recession is defined in economics as three consecutive quarters of contraction in GDP. But since India is a large developing economy, contraction is a rarity. The last instance of negative growth for India was in 1979. A growth recession is more commonplace where the economy continues to grow but at a slower pace than usual for a sustained period – what India has been facing nowadays. Also Read – Insider threat managementThe growth of the Indian economy had been predominated by consumption inclusive of both the Private Final Consumption Expenditure (PFCE) as well as the Government Final Consumption Expenditure (GFCE). Over the last five years, the total consumption expenditure by Indian households had accelerated with an average growth rate of 7.8 per cent compared to an average of 6.1 per cent in 2011-14. But the recent sharp fall in PFCE in the June quarter to 3.1 per cent compared to 7.2 per cent in the March quarter has significantly contributed to the recent slowdown. That being said, any fall in consumption expenditure, as and when it would happen, would escalate the crisis even more. If consumption spending falls, then output and employment levels also fall since consumption expenditure directly impacts the other two. As a consequence, the economy would stagnate, and prices deflate. Lower prices, if unable to recover the costs, would halt operations of any firm and would initiate the layoff process. This, in turn, reduces earnings further. Hence, this vicious cycle keeps on repeating itself until the economy slips into a deeper state of shock. In addition, another major component of India’s GDP is investment, induced by both the private and government sectors. It has been a key driver of growth since the liberalisation of 1991. Though gross fixed capital formation (GFCF), the main constituent of investment in the economy, increased, yet its contribution to growth fell by 6.2 percentage points in 2014-19 than in 2011-14. The slackening of investment lowers the level of infrastructure development, causes hesitation in creating small businesses, stop entrepreneurs from investing in research and development, and thus stagnates technological development. Capital Investments are long-term gains that generate profitability for many years by improving operational efficiency and boosting innovation. It goes without saying that for holistic growth of the economy and to gain a competitive edge over others, the economy must innovate. In addition to these factors, the slump in the economy is also affected by various exogenous factors. A leading dampener is the US-China trade war, which has intensified over time and has contracted world trade and, in turn, Indian exports. Also, high rates of GST, liquidity crisis in NBFCs, and shift in the behavioural pattern of the workforce due to the entry of young people has discouraged savings. When people save less in the economy, it leaves less money for investments. Recession can be short-lived if corrective actions are taken immediately, failure of which can have a prolonged effect on the health of an economy. Amidst the news of slowdown, rise in FDI inflows from $12.7bn (FY19) to $16.3 bn (Q1 FY20) brought respite for the government. In a welcoming move, the government revised GST for the automobile sector, opened up FDI in the contract manufacturing sector and even announced the recapitalisation of the banking sector. Together with these, it should also focus on optimum utilisation of funds granted by RBI and direct them to boost investment in the economy – both infrastructural and research investment. Further, structural shifts, in the long run, can be achieved through tapping into the health and education sectors that long for quality improvements. Only such long-lasting structural changes can improve the growth potential of the Indian economy and deter the possibility of three slowdowns within the short span of a decade. (The author is chair, Institute for Competitiveness. Chirag Yadav, senior researcher, has contributed to the article. The views expressed are strictly personal)
Race to Erase MS has announced that fashion designer and philanthropist, Tommy Hilfiger will be honored with the 2015 Medal of Hope Award at the 22nd Annual Race to Erase MS event, hosted by Nancy Davis, taking place on April 24th, 2015 at the Hyatt Regency Century Plaza Hotel in Los Angeles.For over 30 years, Tommy Hilfiger has brought classic, cool, American apparel to consumers around the world. What many don’t know about Hilfiger is his philanthropic efforts. Hilfiger began his relationship with Race to Erase MS as a sponsor, and developed a relationship with founder, Nancy Davis. Hilfiger shared her deep dedication to find a cure as his family member also suffers from the neurological disease. Hilfiger has co-chaired and been the visionary behind over two decades of Race to Erase MS events. Davis and Hilfiger share a mutual desire to find a cure for MS in the fastest way possible. They have had events from Aspen to Vail to Las Vegas to Los Angeles, always hosting creatively themed events with many celebrity fashion shows and the hottest most current entertainment.Now in its 22nd year, Nancy Davis is honoring the man who has been responsible for the vision and success of Race to Erase MS.“I’ve been proud to support the Race to Erase MS over the years and am humbled to be this year’s honoree,” said Hilfiger. “Nancy has been a great friend and champion of the cause to raise awareness and funds to fight this horrible disease. I am truly honored.”The legendary, celebrity-filled gala has raised over 32 million for Race to Erase MS and its Center Without Walls program. This year marks the 22nd annual event, where guests will be able to participate in a silent auction before enjoying a dinner gala featuring live musical performances. The evening will also include a one-of-a-kind live auction featuring a bespoke Aston Martin designed by this year’s honoree Tommy Hilfiger. The auction will also feature exclusive celebrity opportunities and amazing St. Regis trips around the world. To celebrate Tommy Hilfiger, American Pop Artist Burton Morris has designed the artwork for the invitation and event materials.“I am thrilled to be honoring Tommy Hilfiger,” said Nancy Davis. “A good friend, humanitarian and the most generous person I know. There are now 11 FDA approved drugs on the market for MS and as a team we have been able to take the stigma away from hopelessness to hopefulness.”The evening is generously sponsored by Hyatt Regency Century Plaza, Aston Martin and Associated Television International.In addition to the great fundraising this night provides, Race to Erase MS also supports the “Orange You Happy to Erase MS” awareness month, throughout May. The campaign features a variety of orange products (the vibrant color chosen to represent Multiple Sclerosis and hope) to be sold with all or a portion of proceeds benefiting the cause. Some items include a T-shirt designed by Nancy Davis and modeled by Sharon and Kelly Osbourne, Invicta watch sold on Evine Live also modeled by the Osbourne’s and a bracelet by Alex and Ani, sold annually, which has solely helped raise over $750,000 to date. To purchase any of these items please visit www.shop.erasems.org.Race to Erase MS is dedicated to the treatment and ultimate cure for MS. Funding research is the core focus of the foundation and significant strides have been made to find the cause and cure of this debilitating disease. At the event’s inception 22 years ago, the absence of medications and therapies encouraged its involvement; the Race has been instrumental in funding many pilot studies that have contributed to drugs now on the market and other very important therapies that are improving the lives of people suffering from MS.All funds raised support the Center Without Walls program, a unique collaboration of the world’s leading MS research scientists currently representing Harvard, Yale, Cedars Sinai, University of Southern California, Oregon Health Science University, UC San Francisco and Johns Hopkins. This nationwide collaboration of physicians, scientists and clinicians are on the cutting-edge of innovative research and therapeutic approaches to treat MS. It is the hope of the Race to Erase MS that in addition to combating MS through research in a clinical environment, awareness will be created by educating the public about this mysterious disease.Tickets to the 22nd Annual Race to Erase MS start at $1,000 and tables start at $10,000. To purchase tickets for the event, please contact email@example.com or (310) 440-4842.