Day: October 9, 2018

Business is Booming in Vietnam

By Uponbiz | | No Comments | Business

Foreign companies have been flocking to Vietnam.

Earlier this year, one of the world’s biggest private equity firms Warburg Pincus added banking and logistics to its Vietnam portfolio, pushing its total investment into the country over the $1 billion mark.

Auto players like JAC Motors of China, as well as Kamaz, the largest truck maker in Russia, have recently turned to Vietnam. The Southeast Asian country is seeing money pour in from all over the globe, whether it’s Indonesia’s Gojek in ride-hailing, or Qatar’s Ooredoo in telecommunications. 

With a trade war rippling across the Pacific and fears of interest rate contagion in emerging markets, much of Asia looks bleak. So why is the economy in communist Vietnam such a bright spot?

Stability is key

Gross domestic product is forecast to expand 7 percent this year. The currency and inflation are stable. Growth is expected in exports, manufacturing, foreign direct investment, and other indicators that show Vietnam outpacing rivals in the 10-member Association of Southeast Asian Nations.

“Vietnam is likely to remain the fastest-growing ASEAN economy in 2018 and 2019, as in 2017,” said Chidu Narayanan, Asia economist at Standard Chartered Bank. “We remain positive on Vietnam’s growth medium term on strong manufacturing activity, as FDI inflows to electronics manufacturing remain strong.”

The bank predicts a current account surplus of 3.7 percent of GDP for 2018, meaning Vietnam takes in more money through trade and investment than it sends abroad. That includes an increase in income from services, such as IT outsourcing.

To explain why the country of 100 million people is outperforming peers, it helps to look at factors like trade, consumer spending, and politics.

On the surface, Vietnam’s communist system would not sound like an appeal for investors. But many actually cite the political stability, albeit through one-party government, as a reason to come here. And in reality most businesses operate in a free market, with some state controls. 

Political stability contributes to economic stability, and it helped Vietnam weather a leadership transition that in other countries could spell volatility. Stock markets were not rattled when the president, Tran Dai Quang, died suddenly of illness last month while in office. He will be succeeded by Communist Party chief Nguyen Phu Trong, a man known for maintaining the status quo.

“There will be no major change in Vietnam’s economic strategy or political system as a result of the passing of President Tran Dai Quang,” said Carl Thayer, emeritus politics professor, the University of New South Wales at the Australian Defence Force Academy.

Vietnam likes trade deals

That economic strategy has been characterized by trade deals with as many countries as possible. Through ASEAN, Vietnam has trade pacts with Australia, New Zealand, China, India, Japan, and South Korea. It also signed the Trans-Pacific Partnership, as well as separate agreements with Russia and the European Union.

This could be part of the reason that investor optimism jumped 6 percentage points between the first and second quarters of 2018, according to a European Chamber of Commerce in Vietnam survey released Oct. 3.

“These results show once again that European companies and investors remain confident in Vietnam,” chamber co-chair Nicolas Audier said. “On the cusp of this historic [EU-Vietnam free trade] deal, which would boost trade and investment on both sides, we hope this positive message from EuroCham and its members will inspire the government to continue opening its markets to foreign investment.”

Also drawing in businesses are Vietnamese shoppers. Consumer confidence was higher in Vietnam than in Thailand, Malaysia and Singapore, market researcher Nielsen reported in March. As citizens’ incomes rise, their spending attracts brands in all manner of products.

Spanish fashion retailer Zara has opened outlets here, while Apple in September appointed its first premium reseller in the country, EDigi, authorized to do official repairs of iPhones and Macs. Vingroup, a conglomerate founded by Vietnam’s richest man, launched a line of cars this month with some promotional juice from soccer star David Beckham.

No economy is perfect

It’s not all coming up roses, of course. Economists say Vietnam needs to keep an eye on borrowing: consumers are using more credit cards, the government is close to its debt ceiling, and banks have more non-performing loans than desired. The real estate sector is also cooling, and the country wants to avoid any of the flak that comes from the trade war between the U.S. and China.

That trade war has made investors bearish on Asia’s biggest economy. Elsewhere in the region, Indonesia is fighting to hold the value of its currency, as investors abscond to take advantage of higher U.S. interest rates.

Philippine inflation is approaching 7 percent, the highest in nearly a decade. In Myanmar, the economic potential that once seemed sky-high is now taking a back seat as that state allows ethnic violence and jails journalists.

Vietnam is not far away but has been spared many of those problems for now. 
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Amandla Stenberg: I’m Still Finding My Voice

By Uponent | | No Comments | Entertainment

Actress Amandla Stenberg was named after a 1989 Miles Davis album – a lush, African-tinged funk fusion that takes its name from the Zulu and Xhosa word for “power.”

In South Africa under apartheid, “amandla” was – and still is – a rallying cry against oppression. It’s a lot for Stenberg to live up to. 

“You think?” she asks, laughing and thanking her mother for the heavy responsibility. Then she turns more serious. “It’s something I keep very close to my heart.”

Stenberg has already done much to embody her namesake. At 19, she has become the face of a new Hollywood, one that fuses the personal with the political.

She is a confident, social media-savvy, outspoken, young, gay, African-American woman who, like many others of her generation, has little interest in contributing to the stereotypes or biases of the past. 

In “The Hate U Give,” which expands in theaters Friday, Stenberg has found a perfect amalgamation of art and activism. Based on Angie Thomas’ Black Lives Matter-inspired 2017 best-seller, George Tillman Jr.’s drama is about 16-year-old Starr Carter, who – like Stenberg did growing up in South Los Angeles – shuttles between worlds – her predominantly black neighborhood and her largely white, privileged high school. 

When she sees a white police officer shoot and kill her unarmed friend, Starr must decide whether to speak out. 

Starr eventually finds her voice. Sternberg has, too, but says she’s not done growing yet. 

“I’m finding my voice right now, as we speak,” she said, smiling, in a recent interview. 

It’s a theme that Stenberg returns to again and again: That whatever label has been put on her isn’t necessarily who she is – or who she will remain. “I experience intersections of identity,” she says. “Everyone does.” 

Even the word “activist” doesn’t sit quite right with her. 

“I made a video that went viral and since then, everything I’ve said or done has been politicized,” says Stenberg, who gained fame from her breakthrough role of Rue in “The Hunger Games.”

The video, titled “Don’t Cash Crop on My Cornrows,” was a high school history project in which Sternberg analyzed the appropriation of black culture. After Stenberg posted it on her Tumblr, it was watched by millions. One viewer was Thomas, who was in the midst of writing her young-adult novel. 

“I remember watching it and I was like: That’s exactly who I want Starr to be,” Thomas says about Stenberg and her unfolding career. “I can’t wait until 10 years from now when I’m like, ‘Yep, she was in my adaptation. That’s when it really took off.’ I’m going to have bragging points on that one.”

Stenberg’s education began with her mother, who schooled her on the likes of “Roots,” “The Color Purple” and Nina Simone. From the age of 10, she commuted from Leimert Park to the Wildwood School near Santa Monica. About four years ago, she began to feel emboldened by others on social media. 

On Instagram, she has been a forceful voice on diversity and gender equality. Stenberg has said she removed herself from contention for a “Black Panther” role because she felt the part shouldn’t go to a light-skinned woman of color. When some questioned whether Starr should also be dark-skinned, Stenberg responded thoughtfully about “my role in the quest for onscreen diversity and the sensitivity I must have towards the colorism that I do not experience.”

Stenberg came out in an interview earlier this year (“Yep, I’m gay,” she said). Last week, after watching Christine Blasey Ford’s testimony, Stenberg penned an op-ed for Teen Vogue about her two experiences of sexual assault. 

“I would love to change the fabric of Hollywood,” she says, laughing at the bravado of how that sounds. “I’m really just being myself. I also think there’s a huge movement that’s been started and continues that’s completely independent of me but that I’ve been included in now, that’s been well on its way for a long time.”

Much of “The Hate U Give” involves Starr’s relationship with her father, a reformed drug dealer played commandingly by Russell Hornsby. His mentoring of Stenberg, she says, mirrored the film. Hornsby’s regular flow of advice was “the best tough love I’ve ever received,” she says.

“She’s a beautiful, beautiful spirit,” Hornsby says of Stenberg, whose own father is Danish. “The role and her activism and where she’s in in life, everything is just perfectly aligned. This is the role she was meant to do.” 

The production wasn’t easy. Stenberg says she had residual trauma for months following the shooting scene and still vividly recalls seeing fake blood on her shoe.

Worse, some scenes needed to be reshot long after the fact, when it was revealed that Kian Lawley, a white actor who had been cast as Starr’s boyfriend, had previously been videotaped in a racist tirade. He was recast. “The irony of that was not lost on us,” says Stenberg. 

What’s most striking about the young actor, both on camera and off, is her preternatural poise. When she speaks about social issues, she is just naturally expressing herself. For a so-called firebrand, she is gentle and warm. 

“The world is being revolutionized so quickly,” she adds. “It’s the first time as a black actress that I’ve seen these types of roles be available to someone who looks like me. Hopefully, we can bring some honesty to the screen.”

Asked what she wants, Stenberg excitedly responds: “I want to direct!” But the main thing, she says, is that she doesn’t want to be confined by a media-prescribed image. 

“I want a little more freedom to figure myself out as an artist,” Stenberg says. “One article comes out and makes it feel like you’re set in stone. Identity is really fluid, especially at the age I’m at. It’s going to change 50 million times and I’m going to figure out exactly how I want to express myself.” 

She smiles. “And I want to have fun.”
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Mahathir: Malaysia May Introduce New Taxes, Sell Assets to Pay Debt

By Uponbiz | | No Comments | Business

Malaysia may introduce new taxes and sell assets such as land to pay down debt, Prime Minister Mahathir Mohamad said on Tuesday, as his administration struggles with liabilities of around 1 trillion ringgit ($240.67 billion).

Mahathir, who unexpectedly won a general election in May, has blamed the previous administration of Najib Razak for taking the country into such heavy debt, including that of the 1MDB state fund, which is the subject of corruption and money laundering investigations in Malaysia and other countries.

The government is also looking for new sources of revenue to make up the shortfall it is expected to face after scrapping an unpopular goods and services tax just weeks after the Mahathir-led Alliance of Hope coalition was elected to government.

“We may have to devise new taxes in order to have the money to pay our debts,” Mahathir told an investor conference.

“The other thing we can do is to sell our assets. Land is one of them… Beyond that we may have to sell some of our valuable assets in order to raise funds to pay the debts.”

He did not identify or elaborate on what these assets would be.

Last month, Finance Minister Lim Guan Eng said Malaysia will consider a combination of new debt issuance and asset sales to meet its short-term financing needs.

($1 = 4.1550 ringgit)
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Netflix to Bring New US Production Hub to New Mexico

By Uponent | | No Comments | Entertainment

Netflix has chosen New Mexico as the site of a new U.S. production hub and is in final negotiations to buy an existing multimillion-dollar studio complex on the edge of the state’s largest city, government and corporate leaders announced Monday.

 

It’s the company’s first purchase of such a property, and upcoming production work in Albuquerque and at other spots around New Mexico is forecast to result in $1 billion in spending over the next decade.

 

More than $14 million in state and local economic development funding is being tapped to bring Netflix to New Mexico. Republican Gov. Susana Martinez and Albuquerque Mayor Tim Keller, a Democrat, touted the investment and said lengthy efforts to put New Mexico on the movie-making map are paying off.

“This is awesome,” the governor told dozens of people gathered inside a cavernous sound stage at ABQ Studios. “This massive investment will have a huge impact of course on New Mexico and continue our efforts to grow and diversify the economy.”

 

Martinez acknowledged the state’s reliance on federal funding and oil and gas development, saying more needs to be done to encourage diverse ventures such as Netflix as the private sector is the backbone of the American economy.

 

Keller said the city has laid the groundwork to make sure the film industry is part of its economic development plan. He called landing Netflix a “transformative victory” for the city.

Netflix projects produced in New Mexico include the Emmy Award-winning limited series “Godless” and “Longmire.” Company officials said previous experience working in the state inspired them to jump at the opportunity to establish a new production hub in Albuquerque.

 

Netflix earlier this year announced it was establishing its first European production hub in Spain. That operation is expected to help the online video entertainment platform expand its Spanish-language content.

 

It also has a production hub in Los Angeles and it’s possible the company’s footprint will continue to expand, given the amount of content the online entertainment provider is aiming to create.

 

“We will look at each place on its merits — the same kind of decision-making that went into the impending purchase of this studio,” said Ty Warren, Netflix’s vice president for physical production. “The combination of great crews, existing infrastructure, financial incentives — it was all part of it.”

 

Netflix has about 130 million subscribers worldwide.

 

Officials did not release details about the sales price of the studio complex in New Mexico. The property includes several sound stages, production offices, mill space and a back lot.

 

Martinez, whose second and final term ends this year, initially talked about trying to rein in New Mexico’s film incentive program and an annual $50 million cap was instituted.

 

As the state dug its way out of the recession, she said it was important to avoid cuts to critical programs such as education, health care and public infrastructure. She was criticized by many who thought the cap would stifle the growth of the film industry.

 

In 2013, she signed the “Breaking Bad bill,” named after the Emmy-winning TV drama that filmed primarily in Albuquerque during its five seasons. The legislation enhanced incentives for television productions.

 

Martinez said the industry has since marked three consecutive record-breaking years in New Mexico and it is lining up to be another monumental year.

 

The industry has drawn more in-state direct spending from film and TV productions each year since 2014, topping out at $505 million last fiscal year, according to the state film office.
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Everyone and Everything Needed to Hold Climate Line, Scientists Urge

By Uponsci | | No Comments | Science

Last-ditch efforts to hold climate change to the most ambitious target set by governments will likely require using every available technique rather than picking and choosing the most attractive ones, climate scientists said on Monday.

Dramatically reducing the use of coal, planting huge swaths of land with carbon-absorbing forest or powering most transport with electricity are no longer sufficient to bring about the swift transition needed, they said, with warming expected to pass the 1.5 degree Celsius (2.7 degrees Fahrenheit) mark in as little as 12 years.

“We can make choices about how much of each option to choose, but the idea you can leave anything out is impossible,” said Jim Skea, who jointly led a major scientific report analyzing the feasibility of holding global average temperature rise to 1.5 degrees C above pre-industrial levels, the most ambitious goal of the 2015 Paris Agreement.

The Intergovernmental Panel on Climate Change (IPCC) report, requested by governments, was issued ahead of a U.N. conference in December in Poland that will consider how to increase country ambitions to cut emissions and manage climate risks better.

Current government commitments to curb climate change under the Paris pact, even if fully met, would still leave the world on track for about 3 degrees of warming, scientists said.

To have a chance of meeting the 1.5 degrees goal, climate-changing emissions would have to plunge 45 percent by 2030 compared to 2010 levels, the report said.

As that would be an “unprecedented” rate of decline, it is more likely the world will overshoot the target, then try to return to it by sucking carbon from the air, scientists said.

Such “carbon removal” might happen by developing better technology to take out carbon dioxide from the atmosphere – now an extremely expensive process – or by planting many more forests that could be harvested and burned for energy, with emissions pumped into underground storage.

“We have not identified any pathways that get to 1.5 degrees Celsius without some kind of carbon dioxide removal,” Skea said.

But turning over much more land for energy production “could have implications for food security, ecosystems and biodiversity,” the British scientist warned, as competition for land grows.

All on board

Swiftly reducing emissions – even with carbon removal – will also require unprecedented levels of international cooperation, a particular challenge as some national governments, like that in the United States, look increasingly inward.

Making the needed emissions changes “is within the scope of what humans can achieve”, said Hans-Otto Portner, a German climate scientist and IPCC report co-chair.

But success “depends on political leadership,” he added.

Henri Waisman, a senior researcher at Paris-based think tank IDDRI and one of 91 report authors, said the report’s aim was to set out the types of transformation required as clearly as possible to inform discussions at U.N. climate talks and beyond.

Delaying action on climate change “is something that is explicitly contradicted in the report,” he told the Thomson Reuters Foundation.

If governments fail to ramp up their ambition to reduce heat-trapping emissions over the next two years, they will have consciously abandoned the 1.5 degree goal, he added.

Action in cities – which consume more than two-thirds of energy globally and account for about three-quarters of carbon emissions – are pivotal to meeting the target, said report author William Solecki, a professor at Hunter College-City University of New York.

That’s particularly true because most population growth in coming years “is going to be in urban areas – a lot of it particularly in small and medium-sized cities … in the global south,” he said.

Those cities will need more support to develop cleanly, prevent disasters and adapt to climate shifts, he added.

The scientists said the report was intended to guide more than just governments, however, and that action by everyone – including individuals and businesses – would be required to hold the line on climate change.

“There’s a lot we can do individually or within our communities,” said Debora Ley, a report author who works on adaptation and renewable energy in Latin America.

Personal changes might include everything from eating less meat to using energy-efficient appliances and reducing air travel, said Patricia Pinho, a Brazilian climate scientist and report author.

Individuals and civic groups have a big role to play in pushing governments to tackle climate threats, and are stepping up pressure as recognition of the danger grows, she said.

“We have to live our lives in a way that makes a difference. “Our life on this planet, our kids are at risk,” she said.
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Carbon Tax Gets Renewed Attention But Still Faces Resistance

By Uponsci | | No Comments | Science

Advocates of taxing fossil fuels believe their position is stronger now because of an alarming new report on climate change and a Nobel Prize awarded to by two American economists, but neither development is likely to break down political resistance to a carbon tax.

Previous alarms about global warming met with resistance from Congress and the White House. President Donald Trump withdrew the United States from the Paris agreement on climate change last year.

The Intergovernmental Panel on Climate Change, a panel of scientists brought together by the United Nations, warned in a report Monday that droughts, wildfires, coral reef destruction and other climate and environmental disasters could grow worse as soon as 2040, even with a smaller increase in temperatures than used to set the Paris targets.

A few hours later, the Nobel Prize in economics went to two Americans, including William Nordhaus of Yale University, who argues that carbon taxes would be the best way to address problems created by greenhouse-gas emissions.

A carbon tax is a charge imposed on the burning of fossil fuels like coal, oil and natural gas, which produce carbon dioxide. The tax is designed to make users of those fuels pay for the environmental damage they cause. The ultimate goal of some tax backers is to price fossil fuels out of the market and replace them with sources of energy that produce little or no heat-trapping emissions.

Coal and oil and gas companies could pass the tax cost along to consumers, which would presumably give a price advantage to energy that is not taxed. That, advocates say, would help renewables such as solar and wind grow more quickly from their current single-digit share of the U.S. electricity market.

There is, of course, stark disagreement over the economic effect of a carbon tax.

Researchers at Columbia University estimate that a tax of $50 per ton of carbon dioxide emissions would increase average U.S. consumer electricity bills 22 percent by 2030, with amounts varying by region. A Tufts University authority estimates that it would add 45 cents a gallon to the price of gasoline. Both think the impact can be mitigated by distributing the money raised through taxes to households, and that many low- and medium-income families would come out ahead.

Opponents argue that a carbon tax would kill manufacturing jobs and hurt family income.

A 2014 report by the Heritage Foundation said that a tax of $37 a ton would cut economic output more than $2.5 trillion, or $21,000 per family, by 2030. This year, two dozen conservative groups endorsed an estimate that a carbon tax would cost more than 500,000 manufacturing jobs by 2030.

Noah Kaufman, an energy-policy researcher at Columbia and a proponent of carbon taxes, said the terrifying prognosis in Monday’s report should highlight the central role of a carbon tax in addressing climate change. But, he acknowledged, such warnings are not new, and political opposition to a tax remains strong.

“There are really high political barriers that continue to stand in our way,” he said. “By far the biggest obstacle in the United States right now is the leadership of the Republican party, which is dead-set against any strong climate-change policy.”

In July, the GOP-controlled House voted for a resolution rejecting carbon taxes as detrimental to the U.S. economy. Almost all Republicans, joined by a few Democrats, voted for the symbolic measure.

Prominent opponents of the carbon tax also believe that urgency over addressing climate change is exaggerated. They point out that U.S. carbon emissions have fallen in recent years as abundant natural gas has risen to rival coal in electric generation. Meanwhile, China’s emissions grow rapidly, making it the world’s largest emitter of greenhouse gases.

The scientists who prepared the UN-backed report “are trying to convince us all that there is an imminent crisis when in fact there is a potential long-term problem,” said Myron Ebell of the Competitive Enterprise Institute, who worked on the Trump transition. Carbon taxes, he added, “are political poison once people figure out how much their energy bills are going to go up.”

​There are signs that the political ground could shift.

A group of former Republican officials and big corporations plan to lobby for a tax of $40 per ton of carbon dioxide produced and to give the money to U.S. taxpayers. Oil giants Exxon Mobil, BP and Royal Dutch Shell support the plan, which also would protect them from lawsuits blaming them for climate change.
A Republican congressman, Carlos Curbelo of Florida, bucked party leadership this summer by proposing a carbon tax.
Voters in Washington state will decide next month whether to adopt a carbon fee.

“I am optimistic that the (U.N.-backed) report will make a difference, but I just think we’re going to have to get a little distance from where we are right now in the politics,” said Gilbert Metcalf, an economist at Tufts University and author of an upcoming book advocating a carbon tax. “It’s going to take a longer time, a few years.”

Nordhaus, the freshly minted Nobel winner, was also looking beyond the current political leadership in Washington, D.C. He said that outside the United States there is wide acceptance of the science and economics of climate change.

“This administration won’t last forever,” Nordhaus said at a news conference. “All I can do is hope that we will get through this without too much damage.”

Grover Norquist of Americans for Tax Reform, another group that lobbied against carbon taxes, said Nordhaus ignored science and history in advocating a carbon tax.

“He should look at the history of the last 20 years and see that the United States has been reducing carbon emissions without a carbon tax,” Norquist said.
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SpaceX Satellite Launch Lights Up Night Sky, Social Media

By Uponsci | | No Comments | Science

When SpaceX launched a rocket carrying an Argentine Earth-observation satellite from California’s Central Coast, both the night sky and social media lit up.

 

People as far away as San Francisco, Sacramento, Phoenix and Reno, Nevada, posted photos of the Falcon 9 rocket’s launch and return on Sunday night. It was the first time SpaceX landed a first-stage booster back at its launch site at Vandenberg Air Force Base, about 130 miles (210 kilometers) northwest of Los Angeles.

 

The Air Force warned residents on the Central Coast that they might see multiple engine burns by the first stage and hear one or more sonic booms as it returned.

 

But many far beyond the region were taken by surprise when the launch illuminated the sky, wondering what the otherworldly looking sight was. Some speculated it was a comet or an alien aircraft.

 

“Something exploded in the sky west of Phoenix,” Laura Gadbery wrote on Twitter. “Anyone catch it or know what it was?”

 

Lloyd Lawrence, another user in Phoenix — about 490 miles (790 kilometers) away from the launch site — said he was driving on Interstate 10 when he saw the launch and “couldn’t believe my eyes.”

 

“I wondered who was holding the gigantic flashlight in the sky,” he wrote.

 

Others in Reno, Nevada — about 340 miles away (550 kilometers) — also saw the galactic wonder.

 

Jill Bergantz Carley wrote : “OK Twitter, what the heck is this #UFO #brightlight #plume-a-licious thing we just saw in the sky above #Reno — it radiated beams of light!”

 

Debi Hammond wrote : “Strangest thing I’ve ever seen in the sky. Anyone know what this is?”

 

Californians from Los Angeles to Sacramento — about 270 miles (435 kilometers) from the launch site — also posted their confusion.

 

Los Angeles Mayor Eric Garcetti was among those trying to clear up the speculation, tweeting a photo of the launch and writing: “Nope, definitely not aliens.”

 

Those who knew they were watching a satellite launch posted videos they captured of the stunning spectacle, including one taken over the downtown Los Angeles skyline and a timelapse from Kern County.

 

The primary purpose of the SpaceX mission was to place the SAOCOM 1A satellite into orbit, but SpaceX also wanted to expand its recovery of first stages to its launch site at Vandenberg.

 

SpaceX had previously flown first-stage rockets back to land after Florida launches but had not done so on the West Coast.

 

SpaceX also has successfully landed Falcon 9 first stages on so-called drone ships off the coasts of Florida and California, all as part of its effort to decrease the cost of space launches by reusing rockets rather than allowing them to fall into the ocean.

 

The satellite is the first of two for Argentina’s space agency, the Comision Nacional de Actividades Espaciales, and will work in conjunction with a constellation of Italian space agency satellites. Its acronym is short for Satelite Argentino de Observacion Con Microondas.

 

SAOCOM 1A carries a high-resolution instrument called a synthetic aperture radar that will be used for emergency management during disasters and for land monitoring. The second satellite will be SAOCOM 1B.
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IOC Picks Senegal as First African Host for Youth Olympics

By Uponent | | No Comments | Entertainment

The IOC has picked its first African host of any Olympics, formally awarding the 2022 Youth Games to Senegal.

Senegal President Macky Sall was present on Monday to see International Olympic Committee members confirm the executive board’s preference from four candidates.

Senegal will host the youth games in three places: Dakar; a new city of Diamniadio, close to the capital; and the coastal resort of Saly.

Sall said a 50,000-seat Olympic Stadium will be built for the government-backed project.

The games budget is estimated at $150 million, the IOC executive director of Olympic Games, Christophe Dubi, said at a news conference. 

Senegal’s games are likely to be held in late May. This would be at the end of the dry season to “greatly reduce the prevalence of tropical diseases,” IOC vice president Ugur Erdener told the membership.

Erdener pointed to Senegal’s “booming economy” and better conditions than the other bidders from Botswana, Nigeria and Tunisia.

The construction project includes a rail link and an athletes village which will become university accommodation.

“It is not required to have a detailed budget at this stage,” Erdener said, though noting that Senegal’s government has “full understanding of the magnitude” of its task.

One IOC member from Africa said the whole continent would share the responsibility of its first Olympics, comparing it to soccer’s 2010 World Cup in South Africa.

“In Africa, when a family organizes a party all the neighbors chip in and they help organizing the event,” said Lydia Nsekera of Burundi, who also sits on FIFA’s ruling council, responding to a fellow IOC member’s question about Senegal’s economic indicators.

“It doesn’t matter, everyone will be there to help President Macky Sall organize and stage these games.”

Nsekera is a candidate to lead the African group of national Olympic bodies, ANOCA, in an election next month.

The 2022 decision was taken at a two-day IOC meeting on the sidelines of the Buenos Aires Youth Olympics.

In reports by past and future Olympic organizing committees about their work, the Pyeongchang Winter Games reported an operating profit of $55 million.

Pyeongchang organizing president Lee Hee-beom said the games in South Korea beat its target from sponsorship and donations, and raised almost $1 billion.

The IOC executive board has agreed to give its share of the surplus to sports in South Korea.

Three Pyeongchang venues still lack a long-term plan for use, including two skating arenas and the Alpine skiing downhill course. The slope at Jeongseon was promised to be replanted with trees and restored as a forest.

“This obviously has always been a concern,” Dubi said of the legacy planning. “It has been the case for many months and it will continue to be the case.”

Organizers of the 2024 Paris Olympics said they hope to propose new sports for its medal program to the IOC “early next year.”
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‘Speak Now’ – Taylor Swift Sets Off Storm by Getting Political

By Uponent | | No Comments | Entertainment

Taylor Swift’s decision to break her silence on politics triggered a storm on Monday, with fans and commentators divided over whether one of pop music’s biggest stars should have spoken out.

Swift, 28, has notably stayed out of the U.S. political fray in contrast to her more vocal peers, like Democratic supporters Katy Perry and Beyonce, and Republican backer Kid Rock.

But on Sunday Swift told her 112 million Instagram followers that she was backing — and would vote for — two Democrats running in Tennessee in the U.S. congressional midterm elections on Nov. 6.

“In the past I’ve been reluctant to publicly voice my political opinions, but due to several events in my life and in the world in the past two years, I feel very differently about that now,” Swift wrote.

The “Speak Now” singer said she was a supporter of gay rights and women’s rights, and against racism.

“I cannot vote for someone who will not be willing to fight for dignity for ALL Americans, no matter their skin color, gender or who they love,” Swift wrote, saying she would vote for Democrats Phil Bredesen for the U.S. Senate and Jim Cooper for the House of Representatives.

Bredesen, a former Tennessee governor, is facing Republican Representative Marsha Blackburn in what has become an extremely close race for the Senate seat being vacated by Republican Bob Corker.

Swift said in her comments that while she typically tries to support women running for office, Blackburn’s voting record “appalls and terrifies me.”

Swift’s comments got 1.5 million likes on her Instagram page. But they enraged many conservatives, especially those in the country music community where Swift got her start as a teenager and went on to win 10 Grammys.

“What I used to love about Taylor Swift is she stayed away

from politics,” Charlie Kirk, founder of the conservative non-profit student organization Turning Point, said on Fox News television on Monday.

Some sought to play down Swift’s influence outside her predominantly young girl fan base.

“So @taylorswift13 has every right to be political but it won’t impact election unless we allow 13 yr old girls to vote,” tweeted former Arkansas Governor Mike Huckabee, who twice sought the Republican presidential nomination.

Former “Star Trek” actor George Takei was among those welcoming Swift’s declaration ahead of what are expected to be polarizing elections in November.

“Guys, things have gotten so dire that even Taylor Swift had to say something,” Takei tweeted.

Model Chrissy Teigen, actress Blake Lively and singer Perry were among those adding “likes” to Swift’s Instagram post.

Swift is currently on a world tour to support her top-selling 2017 album “Reputation,” and will perform live at the American Music Awards show in Los Angeles on Tuesday.

“Respectfully, be quiet and sing!” wrote a Twitter user named Janice @theemporersnew. “I guess you’re more pop than country now anyway. You’re country fans are gonna be disappointed.”
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