DP World Bags 30Year Port Concession Deal in Congo

first_imgzoom Dubai-based port developer DP World has won a 30-year concession with an option of a further 20-year extension for the management and development of a greenfield multi-purpose port project at Banana, Democratic Republic of the Congo (DRC).The Port of Banana will be the first deep-sea port in the country along its small coastline of 37 kilometres, which currently only has the riverine port of Matadi.Under the deal, DP World plans to set up a joint venture with 70 pct control with the government of DRC holding a 30 pct share, to manage and invest in the port.The first phase of the greenfield project, with an estimated initial investment of USD 350 million, will include a 600-metre quay and 25-hectare yard extension with a container capacity of 350,000 TEU and 1.5 million tonnes for general cargo, DP World said.The construction is expected to start in 2018 and will take approximately 24 months to complete.The initial investment of USD 350 million will be spread over 24 months and the total project cost of more than USD 1 billion over four phases will be dependent on market demand for the port, industrial and logistics zone infrastructure, DP World said.The development gives the Democratic Republic of the Congo the opportunity to reduce its dependency on the neighbouring countries’ ports.“ Investment in this deep-water port will have a major impact on the country’s trade with significant cost and time savings, attracting more direct calls from larger vessels from Asia and Europe, and ultimately acting as a catalyst for the growth of the country and the region’s economy, “ Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said.As explained, for DP World, the investment in Congo is part of the company’s push to enlarge its footprint in Africa and promises to deliver attractive returns to shareholders over the longer-term.“The Port of Banana will offer the first deep-water port to the Democratic Republic of the Congo that will dramatically improve the cost and time of trade as the majority of the cargo is still handled by neighbouring countries,” Jose Makila Sumanda, Vice Prime Minister and Minister of Transport and Communications, Democratic Republic of the Congo, said.“The project will provide us with a first-class marine facility comparable to other African countries in terms of capacity, draft and ability to handle the latest generation of vessels.”Separately, the company reported that it has signed two framework agreements with the government of Kazakhstan relating to the acquisition, governance and management of Special Economic Zones (SEZ) in Aktau and Khorgos.Following the agreements, DP World now plans to acquire a 51 pct stake in the Khorgos SEZ and 49 pct in the Aktau SEZ in line with the development of the New Silk Route and the Belt and Road Initiative.last_img read more

Redefining Success in Print Media

first_img Engaging audiences on different platforms was a key theme throughout the day. While many publishers have established social media platforms, it remains an area that brands want to improve upon. Snapchat Discover and Facebook Live were a favorite topic, as they’re new platforms many companies have yet to crack open. But at this year’s min day summit in New York on Tuesday, several panelists noted that print is still an important platform and will likely remain relevant for at least the next ten years. Digital and print are often framed in opposition, but by seeing the two platforms as complementary, one can conceive of print’s continuing success. The definition of a successful print magazine just might have to change. Panelists Larry Burstein, publisher at New York Media, Christian Baesler, president of Bauer Xcel Media, and Scott Burton, executive editor of ESPN The Magazine, specifically explored this concept. Each panelist took a different approach towards print and digital. NEW YORK—Over the past decade or so, it has become relatively common to hear the phrase “print is dead.” In this environment, context and engagement matter more than ever. “If you create a better experience in these mobile environments, you’re more likely to succeed in the long term,” he said. This means erasing loading time—if it takes longer than ten seconds, half your audience is gone. Google’s AMP (Accelerated Mobile Pages) thereby aims to create a faster environment for consumers to engage with content. “The next $50 billion will come from a better mobile experience,” announced Craig DiNatali, Google’s director of News Media Partnerships and the keynote speaker. Media is increasingly being consumed in different verticals, as behavior and consumption has changed drastically. Almost 80% of people access news on mobile devices today.   The rest of the min day Summit saw more than 25 leaders from magazine media, advertising agencies, and tech companies discuss specific challenges, strategies, and opportunities in the industry. Speakers examined a wide range of topics, from exploring the possibilities of virtual reality to understanding Hispanic marketing. In contrast, Bauer advocates for separate operations entirely. “Editorially, we found the tools you need as an editor to succeed in print versus digital are very different,” Baesler explained.center_img A lively group of industry professionals gathered at the Yale Club to hear the speakers, which included Kate Brady, director of media strategy and innovation at PepsiCo, Cathy Glosser, SVP licensing for Condé Nast, Mike Suggett, VP, executive producer, original programming at Ten/MindOverEye, and Michael Brownstein, VP and CRO of Meredith Corp. Burstein emphasized that New York Media focuses heavily on “reaching the audience in any way they want to be reached,” by integrating departments. ESPN the Magazine also uses an assimilated approach to take advantage of ESPN’s enormous reach. This allows for strategizing across all channels, resulting in wide coverage that engages audiences beyond the Magazine’s reach. Despite the different approaches, all three panelists maintained that print would be successful in the future, provided one understands the different context within which print exists today. Burstein and Burton agreed print magazines need to identify themselves as a place where people can access great stories. Certain content areas are better suited for digital because of the quick publishing time. But magazines offer a different reading experience, one that is finite and tangible. National Geographic’s vice president of social media, Rajiv Mody, discussed why brands should improve their social strategy, using the brand’s impressive use of Snapchat Discover as an example. Mody said that Discover should be as customized and engaging as possible for the audience. But such customization should not be relegated only to social media. It is also increasingly important in advertising. Digital may have initially been seen as a way to increase ad revenue and access, but brands have seen ad blockers, viewability problems, and other roadblocks appear. So customization is more important than ever, and clients reflect this. There is an increasing trend of clients partnering with brands to create custom content. But, as Shenan Reed, president, digital of MEC Global said, “We don’t spend enough time talking about the terrible creative that could be massively improved to help performance.”last_img read more

CNET Book Club Infinite Detail asks what if the internet dies

first_img Culture Share your voice CNET Book Club Tim Maughan (right) and Scott Stein (left) at the podcast studio. CNET Cast your mind forward, five, 10, 30 years. What will the future of the ultra-connected smart city be like? Glad you asked, because Infinite Detail is as good an exploration of the promises and fears of the next decade as you’re likely to read.Tim Maughan, a journalist for Vice/Motherboard, New Scientist and the BBC, joins us on the podcast to discuss his novel Infinite Detail. We talk about what scares him about smart cities, the possibilities and pitfalls of augmented reality, and a lot more.Subscribe: CNET RSS | iTunes | FeedBurner | Google Play | TuneIn | Stitcher See Infinite Detail on Amazon9780374175412Infinite Detail. Tim Maughan/FSG Set in both a creepily frictionless New York City of the deep-surveillance near-future and a rebellious anti-surveillance community in Bristol, UK called The Croft, Infinite Detail also jumps back and forth in time. Half of the book takes place in a near future fully immersed in AR smartglasses and information-collecting infrastructures. The other half lives in an even farther-off future where the internet as we know it, and much of the global infrastructure, has collapsed.I won’t spoil anything else in between, but the politically-charged book follows the spirit of Cory Doctorow’s 2017 novel, Walkaway, and in some ways, Station 11 by Emily St. John Mandel: It’s both pre- and post-apocalyptic, and yet also oddly optimistic. I swear. About CNET Book Club The Book Club is hosted by a pair of self-proclaimed book experts: Dan Ackerman (author of the nonfiction video game history book The Tetris Effect), and Scott Stein, a playwright and screenwriter. We’ll be announcing our next Book Club selection soon, so send us your suggestions and keep an eye out for updates on Twitter at @danackerman and @jetscott. Previous episodes Borne by Jeff VanderMeerWalkaway by Cory DoctorowArtemis by Andy WeirDown the River Unto the Sea by Walter MosleyTen Arguments for Deleting Your Social Media Accounts Right Now by Jaron LanierCNET Book Club: Holiday 2018 gift guide specialTeam Human by Douglas RushkoffGiraffes on Horseback Salad by Josh Frank, Manuela Pertega, and Tim Heidecker Subscribe to CNET Book Club: CNET RSS | iTunes | FeedBurner | Google Play | TuneIn | Stitcher 0 Tags Post a commentlast_img read more

Motorcyclist killed in road crash

first_imgA motorcyclist was killed as a covered van hit his vehicle in Mansurabad area of Chattogram city early Sunday.The deceased is Md Mirza, reports UNB.The accident took place when the van hit the motorcycle in front of the regional passport office around 2:00am, leaving him critically injured, said Chittagong Medical College Hospital (CMCH) police outpost constable Amir Hossain.He was brought to the hospital where the duty doctors declared him dead, the constable added.last_img

Oikya Front gets nod for Chattogram rally

first_imgJatiya Oikya Front rally in Sylhet. Prothom Alo File PhotoThe Jatiya Oikya Front, a newly formed political alliance, has obtained permission to hold its rally in Chattogram.The Front held its first rally in Sylhet on 24 October to mobilise public support in favour of the alliance’s seven-point demand, including holding the 11th parliamentary elections under a non-party administration.Chattogram Metropolitan Police (CMP) gave the permission asking them to restrict their rally on a part of a road along the Bangladesh Nationalist Party (BNP) office in the city.CMP commissioner Md Mahabubur Rahman told Prothom Alo that the permission was given on conditions.The Front leaders were asked to finish the rally within 5:00pm.On 13 October, the BNP together with Kamal Hossain-led Jatiya Oikya Prokriya, JSD and Nagorik Oikya launched the Jatiya Oikya Front to press for their seven-point demand, including holding the next polls under a non-party administration.last_img read more

Its KPop time again

first_imgA Korean music festival, incorporating a mix of dance, ballad, electronic, rock, hip-hop and R&B among other styles of pop music is scheduled to be held in the city soon.Organised by the Korean Cultural Centre, part of the Korean Embassy the K-POP festival, which is currently in its third edition is set to be held on 30 August here according to organisers.Apart from the national capital, Mumbai, Chennai and Dimapur are the other cities, which will play host to the festival. Also Read – ‘Playing Jojo was emotionally exhausting’The festival is currently seeking applications for participation from aspiring singers and dancers who can send in videos of their performances to organisers.‘K-POP fever has amplified in India and we were overwhelmed by the enthusiasm of the people last year’, says Kim Kum Pyoung, Director, Korean Cultural Centre.He further adds, ‘It’s the ultimate platform to showcase the talent and personality of very gifted performer chosen from all corners of India!’ Meanwhile, winning teams at the upcoming festival would be awarded an all expenses paid trip to South Korea sponsored by the Korean Cultural Centre (KCC) and Korea Tourist Organization (KTO).They will also get an opportunity to perform in the K-POP World Festival in Changwon, organisers said.last_img read more