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Time Out
6 days ago
- Business
- Time Out
SA's R2.4 Billion Tourism Budget: Here's what it means for Cape Town
South Africa's latest tourism budget has landed - and it comes with a R2.434 billion mandate to do things differently, and do them better. Tabled in Parliament on Tuesday by Minister Patricia de Lille, the 2025/26 Tourism Budget Vote promises to rewire tourism for transformation—a far cry from the current state of play in countries like the United States, where Brand USA is facing significant budget cuts under Trump 2.0. But money alone won't fix tourism's most pressing challenges. The real question is this: How do we build a tourism economy that works for everyone? With Cape Town positioned as both a flagship destination and host of South Africa's first Tourism Investment Conference in September, the city will play a pivotal role in shaping the future, from budget delivery to global influence. A budget with a mission: Don't repeat the past The message from the national government is clear: inclusive growth, not business as usual. 'We must stop repeating the same actions and expecting different results,' said De Lille in her address, framing the budget as a reset, not just a spend. Shaped by the new Government of National Unity, the department's action plan is structured around destination marketing, tourist safety and security, visa and ease of access, product development and job creation. Big-ticket allocations include: R1.3 billion for South African Tourism to stimulate demand R662 million for destination development and support programmes - spanning SMME funding, green retrofits, tourism grading, transformation, and skills development Also on the table are improved fund management, performance-linked contracts with consequence management for missed goals, real-time digital dashboards, and stronger oversight—all in a bid to close the loop between planning and delivery. Tourism's comeback - but can it transform? The numbers point towards a rebound in 2024 as local travel remains a bedrock: 9.1 million international visitors 40 million domestic trips R92.8 billion in foreign direct spend R133.1 billion in domestic tourism contributions But as De Lille pointed out, growth on its own isn't enough. Tourism must be a turbo-charger for inclusive growth, jobs, and community upliftment. Cape Town's role: Futures thinking meets government strategy Alongside its upcoming role as host of the Tourism Investment Conference, the city is also home to one of the sector's most forward-looking institutions: Cape Town Tourism (CTT). Its Futures 2039 report explores multiple paths for tourism in the city, including the most recent 'Good Hood' scenario, where neighbourhood pride and local ownership sit at the centre of the visitor experience. 'Good Hood is not a fairy tale,' writes CTT CEO Enver Duminy. 'It's a balancing act." He goes further: 'When we celebrate our neighbourhoods, do we truly protect them — or unintentionally open the door for outsiders to take over?' That tension - between authentic celebration and creeping gentrification - is one he says Cape Town must navigate with care. And while it is a vision that aligns with national goals around inclusive growth - turning strategy into lived reality is another story. The challenge now is less about imagining better futures and more about doing the hard work to achieve them: shifting power, protecting communities, and holding both public and private partners accountable. Budgets, foresight, G20 leadership: Now what? As host of the G20 Presidency, South Africa is also leading the G20 Tourism Working Group, where four key priorities are on the table: Inclusive innovation and AI Fair and accessible investment Improved air connectivity (especially within Africa) Community-led, climate-smart tourism development Deputy Minister Maggie Sotyu recently launched a G20 Tourism Community Outreach Programme in the Northern Cape — connecting policy with practice by engaging directly with small businesses, creatives, and community leaders. It's part of a growing shift: taking global goals and rooting them in on-the-ground realities. When you align R2.4 billion in national spending, a global platform, and sharp local foresight, the stakes become clear: this could be a defining moment for tourism in South Africa — and Cape Town is at the centre of it. What that looks like in practice, according to the tabled budget: R95 million allocated for upgrades to government-owned tourism sites 25 new community lodges and tourism routes in development 105 MICE bids supported — including 10 events in townships and small towns A push for digitally enabled, climate-conscious tourism infrastructure Even fast-tracked projects like the Robben Island upgrades tie into the broader G20 moment — not just a tidy-up for VIPs, but an investment in long-term access and visitor experience. If this budget cycle is to succeed, it can't just be about plans and platforms. It has to deliver real outcomes for underrepresented communities, SMMEs, youth, and the future of Cape Town's culture-rich, economically diverse tourism landscape. Minister de Lille says we can't afford to repeat the mistakes of the past. If that's true, then building a resilient, people-first tourism economy means backing partnerships that are transparent, place-based, and locally led — not just internationally branded.
Time of India
6 days ago
- Health
- Time of India
Measles cases in US reach all-time high after disease was declared 'eliminated': Check symptoms and prevention tips
The United States has broken its record for the highest number of measles cases in the country since the disease was eliminated in 2000, according to data from the Johns Hopkins University Center for Outbreak Response Innovation (CORI). The annual tally of measles cases in the US is the highest in 33 years, as an ongoing outbreak in west Texas continues to drive cases. The surge in number of measles cases comes at a time when childhood vaccination rates are falling and a rise in anti-vaccine sentiment. The center reports that there are now 1,277 confirmed cases across 38 states and the District of Columbia, the highest annual tally since 1992. This figure has already surpassed the 1,274 cases recorded during the peak year of 2019, marking a critical public health milestone reached just halfway through 2025. According to experts, this year measles' cases are likely severely undercounted because many are going unreported, The Hill reports. There have been at least 155 hospitalizations and three confirmed deaths from measles this year, including two otherwise healthy but unvaccinated children in Texas. A third death was reported in New Mexico in an unvaccinated adult who tested positive after dying. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Washing Fruit With Baking Soda? Here's What You Should Know Read More Undo ALSO READ: Student Loan Forgiveness programs to undergo massive changes under Trump 2.0. Are you at risk? 'It's a harbinger of things to come,' Eric Ball, a leading pediatrician, told the Washington Post. 'Once we see a resurgence of measles, we know that other diseases are going to come behind it.' Live Events 'When you talk to people on the ground, you get the sense that this outbreak has been severely underestimated,' Dr Paul Offit, director of the vaccine education center at the Children's Hospital of Philadelphia told The Guardian. Confirmed cases appear to be the 'tip of a much bigger iceberg', he said. Texas reports highest number of measles cases The majority of cases stem from a large outbreak originating in West Texas, where 753 confirmed cases have been reported across 36 counties since January. Gaines County remains the epicenter, with 55 percent of Texas cases concentrated in this area after the virus spread through a close-knit, undervaccinated Mennonite community. Some critics say Health and Human Services Secretary Robert F. Kennedy Jr.'s efforts to contain the epidemic in the tight-knit, religious West Texas community ran counter to established public health strategies used to end past epidemics, according to NewsWeek. ALSO READ: 'Horrific': Houston pediatrician fired over vile post suggesting Texas flood victims were Trump supporters Confirmed measles cases have been reported by 39 states and jurisdictions, with Texas, New Mexico, and Kansas showing the highest concentrations. Active outbreaks, defined as three or more related cases, are occurring in Arizona, Colorado, Georgia, Illinois, Iowa, Kansas, Michigan, Montana, New Mexico, North Dakota, Oklahoma, and Utah. Kentucky reported its first outbreak of 2025 last month. What are the symptoms of measles? The symptoms of measles appear seven to 14 days after virus contact and it includes high fever, cough, runny nose, and watery eyes. Measles is a viral disease characterized by a top-down rash, high fever, runny nose and red, watery eyes. The virus is one of the most infectious diseases known to medicine. There is no cure for measles. The rash typically emerges three to five days after the first symptoms and is often paired with fever spikes that can exceed 104°F. Tiny white spots inside the mouth, known as Koplik's spots, may develop two to three days after symptoms start. ALSO READ: Barron Trump's love life revealed: US President's son has a mysterious girlfriend amid college life? What we know How to stay safe? Two doses of MMR vaccine provide the best protection against measles, according to CDC. Measles is very contagious. It spreads through the air when an infected person coughs or sneezes. You can get measles just by being in a room where a person with measles has been. This can happen even up to 2 hours after that person has left. Anyone showing symptoms should contact a healthcare provider immediately. Wash your hands frequently, avoid close contact with sick individuals, and cover your mouth and nose when coughing or sneezing. These practices can help prevent the spread of measles and other infectious diseases. If you are planning to travel, especially internationally, ensure you're fully vaccinated at least two weeks before departure. "Measles can live in the air for 2 hours after an infectious person leaves the space. Before any international travel, evaluate if your family needs early vaccine doses," the US CDC advises.
AllAfrica
04-07-2025
- Business
- AllAfrica
Is US dollar flirting with a ‘Liz Truss moment' amid tariff chaos?
Though the US dollar has been on a downward path all year, there's something particularly ominous about the most recent declines. The losses are coming even as US government bond yields are rising. Normally, an increase in interest-rate differentials is dollar positive. Yet the dollar's 13.5% drop this year appears to be accelerating in ways that economist Robin Brooks thinks deserve more attention. One reason: The interplay between US rates and the dollar echoes what the UK experienced in late 2022 in what was essentially a debt crisis. 'Signs are mounting that a similar risk premium may be starting to build for the US dollar,' says economist Brooks at the Brookings Institution. It suggests that 'many years of very loose fiscal policy may be coming to a head amid tariff uncertainty.' This dynamic calls to mind Warren Buffett's famous observation that 'only when the tide goes out do you discover who's been swimming naked.' There's no better example of a developed nation trying to get away with skinny dipping than the US, as its public debt tops US$37 trillion. Only time will tell if US President Donald Trump and the Republicans are courting a 'Liz Truss moment' as their 'Big, Beautiful Bill' adds an estimated US$4 trillion to the federal deficit. That increase, equivalent to the size of Japan's annual GDP, could indeed pique the interest of credit rating analysts at S&P Global, Fitch and Moody's Investors Service. Until recently, Brooks argues, much of the commentary on the dollar was too alarmist. That's because a material part of the dollar decline since the start of Trump 2.0 in January was attributable to Germany's surprise fiscal stimulus announcement in early March, which caused the dollar to fall 4% on a trade-weighted basis. Factoring this in, the dollar was essentially unchanged from election day on Nov. 5. 'However,' Brooks says, 'a more worrying dynamic has taken over in recent weeks, with the dollar falling sharply against its G10 peers. What's especially worrying is that the latest fall comes amid rising US interest rates, which is something that has tended to support the dollar.' The US currency, he explains, 'has been falling even as the interest differential has risen. This combination — a falling currency even as rate differentials rise — is deeply worrying. It harkens back to 2022, when the UK experienced what was essentially a debt crisis, with rising yields and a falling pound.' That infamous episode followed then-UK Prime Minister Truss in September 2022 trying to sneak a sizable unfunded tax cut past the so-called 'bond vigilantes.' It did not go well. As the gilt market crashed, a UK tabloid began live-streaming a head of lettuce next to a framed Truss photo to see if it could outlast her premiership. The lettuce won. The idea that a similar unraveling might befall the US has been contemplated myriad times post-2008. That was one of the hinge points for the explosion of the US national debt that occurred since then. The fallout from the 'Lehman shock' has Washington ramping up fiscal stimulus aggressively. The resulting debt buildup led to S&P's earthquake-generating decision in 2011 to yank away Washington's AAA rating. Then came the Covid-19 crisis that turbocharged US borrowing programs. When S&P acted 14 years ago, the US debt was just US$14 trillion. In August 2023, when Fitch Ratings downgraded Washington to AA+, the national debt was US$31.4 trillion. As Fitch said at the time, the downgrade 'reflects the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance' relative to peers. Most recently, in mid-May, Moody's pulled the trigger, revoking the pristine US rating it had maintained since 1919. As Moody's analysts put it, 'successive US administrations and Congress have failed to agree on measures to reverse the trend of large annual fiscal deficits and growing interest costs.' Stanford University economist Darrell Duffie called it a wake-up call for Congress 'to discipline itself, either get more revenues or spend less.' Only when the tide goes out do you discover who's been swimming naked Warren Buffett The opposite happened this week as Congress added the equivalent of two Russian economies to the federal deficit. Spencer Hakimian, CEO of hedge fund Tolou Capital Management, tells Reuters that Moody's spotlighted the 'continuation of a long trend of fiscal irresponsibility that will eventually lead to higher borrowing costs for the public and private sector' in the US. Economist Philip Luck at the Center for Strategic and International Studies argues that this most recent downgrade was 'more than a technical market event — it represents an emerging consensus that the United States' mounting debt burden has shifted from an abstract risk to a strategic constraint on US power and leadership.' As borrowing costs rise and fiscal space narrows, Luck says, 'the nexus between debt and national security becomes increasingly salient. As interest payments surpass defense spending, global growth slows and demographic pressures accelerate, the United States faces difficult choices.' Luck says that without reform, debt is projected to reach 156% of GDP by 2055, threatening to erode US power in an era of intensifying great power competition and validating 18th-century economist Adam Ferguson's centuries-old warning that nations may mortgage their liberty through excessive borrowing. 'In the years ahead,' Luck notes, the US will face stark choices about spending, taxation, and the burdens of global leadership. Perhaps the most dangerous threat is not economic but psychological: the false belief that dollar dominance insulates the US from the consequences of fiscal recklessness.' As the federal debt climbs toward 160% of GDP and interest payments consume a growing share of the budget, Luck warns, critical investments in defense, diplomacy and domestic priorities are increasingly at risk. 'The US,' he concludes, 'may forfeit not just its credit rating, but its global leadership – exactly the kind of decline Ferguson warned of. The US still commands unparalleled economic and strategic strengths. But without serious fiscal reform, those strengths will wither. History teaches that great powers seldom fall to external forces alone; more often, they crumble under the weight of their own unsustainable choices.' One flashpoint might be Asia's vast holdings of US Treasury securities. As Trump and the Republicans blow out the US debt, officials in Tokyo are sitting on US$1.1 trillion of US debt that might now go awry. Beijing has about US$770 billion of Treasuries, while the Asia region is exposed to Washington's fiscal mess to the tune of more than US$2.5 trillion. China, of course, is no happier now than it was right after the 2008 global financial crisis. At the time, in 2009, then-Chinese Premier Wen Jiabao warned that 'we have made a huge amount of loans to the United States. Of course, we are concerned about the safety of our assets. To be honest, I am a little bit worried.' He urged Washington 'to honor its words, stay a credible nation and ensure the safety of Chinese assets.' At the time, the US debt was less than US$12 trillion, two-and-a-half times lower than when Fitch Ratings downgraded the US in 2023. Today, Moody's Investors Service is mulling whether to maintain Washington's last AAA rating with the US debt three times what it was in 2009. Hence, the concerns being expressed by economists like Brooks at Brookings. Particularly given parallels between what tripped up the UK in 2022 and the US today. 'This kind of counterintuitive price action is highly unusual for the dollar and may be a signal that – after many years of very loose fiscal policy – tariff uncertainty is now bringing things to a head' with the 'ultimate metric for global confidence in the United States.'
Time of India
03-07-2025
- Business
- Time of India
New-age IPO frenzy; Hoping against H-1B hope
New-age IPO frenzy; Hoping against H-1B hope Want this newsletter delivered to your inbox? Also in the letter: Startups aim for over Rs 18,000 crore in IPO frenzy Leading the pack Long queue: Pine Labs and Groww are targeting Rs 2,600 crore and Rs 1,735 crore, respectively. Others, such as Boat, Wakefit, Capillary Technologies, and Urban Company, are planning smaller issues of under Rs 1,000 crore each. These figures exclude any offer-for-sale (OFS) component, which will increase the overall IPO size further. Rush hour: How it stacks up: In 2021-22, startups like Zomato (now Eternal), Paytm, Delhivery, Nykaa, and PB Fintech raised over Rs 25,000 crore in fresh capital. Zomato and Paytm alone brought in Rs 17,000 crore. The two years that followed saw a dip, with a string of sub-Rs 1,000 crore issues from the likes of Ixigo, Awfis, Blackbuck, MobiKwik, and Honasa Consumer. Also Read: Early Nykaa investor to sell stake in block deal Founders stay put: H-1B hopefuls brace for longer wait times, delays in Trump 2.0 Numberwise: 85,000 applicants made it through the H-1B lottery this March. In 2018, denial rates under the first Trump administration hit 15% overall—24% for new applications and 12% for renewals, according to Pew Research. During Biden's presidency, rejection rates fell sharply, dropping to just 3%, Pew noted. Between 2016 and 2020, H-1B processing times increased by 12-36 months, according to data from immigration platform Jeelani Law Firm. Imminent scrutiny: Workarounds and detours: Applications for the EB-5 investor visa have jumped 50% since January. There's also growing demand for L-1 and O-1 visas. The EB-2 NIW (National Interest Waiver), which allows highly qualified individuals working in areas of US national interest to stay and work in the country, is another option gaining traction. Also Read: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Venture capital funding inches up to $4.9 billion in H1 2025 VC favourites: Big ticket investments: Innovaccer: $275 million $275 million Meesho: $270 million $270 million Groww: $200 million $200 million Porter: $200 million 2025 unicorns: IPOs in line: Also Read: Other Top Stories By Our Reporters Micron shifts gears in AI era: IEA throws weight behind India's digital energy stack: Global Picks We Are Reading Happy Thursday! Startups are lining up to list in a reinvigorated public market. This and more in today's ETtech Morning Dispatch.■ VC funding on the rise■ Micron's AI focus■ Support for India Energy StackA dozen new-age companies that have filed draft IPO papers are looking to raise over Rs 18,000 crore ($2 billion) through fresh share issues, signalling renewed momentum in India's public markets.: Ecommerce platform Meesho , which is set to file confidentially, is eyeing the biggest primary raise at Rs 4,250 crore. Close behind is edtech player PhysicsWallah , aiming for Rs 4,000 and bankers point to strong public market valuations and growing confidence among startups, many of which now see local listings as a viable Singh Banga, founder, The Caravel GroupHarindarpal Singh Banga, founder of the Hong Kong-based Caravel Group and an early investor in Nykaa, plans to sell a 2–2.5% stake in the company through a block deal worth $150 million (approximately Rs 1,200–1,300 crore), sources told the Nayar family, which founded Nykaa, still owns 52% and has not sold any shares since the company listed in November H-1B application window for this fiscal year has shut. Now begins the long wait—and possibly a tougher ride. Experts are already warning of higher rejection rates, slower processing and more paperwork under a Trump administration that is deeply sceptical of immigration.'We do expect to start seeing increased scrutiny of H-1B petitions eventually. Given what we saw during Trump's first term in office, and the administration's general scepticism of the positive impact of immigration, it is important to be prepared for what is very likely coming,' said immigration attorney Joel to the H-1B route are seeing a spike in noted that while this demand usually picks up after the H-1B lottery season, this year's surge also reflects a broader trend – more applicants are now actively looking to sidestep the scrutiny they anticipate Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship capital funding in Indian startups showed early signs of a rebound in the first half of 2025, with total deal value rising slightly to $4.95 billion across 410 deals, according to data analytics platform Venture a modest improvement on the same period last year, when startups raised around $4.54 billion from 418 deals. Ecommerce led the charge this year, pulling in $1.3 billion, followed by fintech with $1 billion. Enterprise software, deep tech, and health tech also attracted strong investor interest. India minted five unicorns in the first half of 2025— Netradyne BlueStone , and Jumbotail —compared to only six in the entire previous public markets are beginning to beckon again. Several startups have filed their draft red herring prospectuses (DRHPs) this year, lining up for new listings in the coming months. Expect to see Shadowfax Wakefit , and Curefoods on that Sadana, chief business officer, MicronMicron Technology is focusing on data centre and artificial intelligence (AI) opportunities in a shift from product-oriented to market segment-oriented business units, said its chief business officer Sumit International Energy Agency (IEA) is backing the India Energy Stack , a vital digital public infrastructure aimed at standardising and improving interoperability across the power sector, said the IEA executive director Fatih Birol.■ A group of young cybercriminals poses the 'most imminent threat' of cyberattacks right now ( Wired ■ Taiwan is creating an offshore wind industry to fuel its semiconductor factories ( Rest of World ■ Can the music industry make AI the next Napster? ( The Verge
Axios
01-07-2025
- Politics
- Axios
American pride plummets to new low
Ahead of the Fourth of July, a record-low share of U.S. adults — 58% — say they are "extremely" or "very" proud to be an American, according to recent Gallup polling. That's down nine percentage points from last year and five points below the previous low from 2020. The big picture: That fall is largely driven by Democrats' and Independents' national pride sharply cratering in the first year of the Trump 2.0 era. By the numbers: Just 36% of Democrats said they were extremely or very proud to be an American, joined by 53% of Independents. That's a new low for both groups. Last year, in the final months of former President Biden's administration, 62% Democrats reported feeling proud. Gallup notes this is only the second time in their polling that Democrats' pride has slipped below the majority level, with the prior dip coming in the final year of the first Trump administration. Zoom in: Among Republicans, 92% said they were extremely or very proud to be an American. That comes as no shock, as the share of Republicans who say they're proud to be Americans has remained remarkably steady for decades. Flashback: In 2001, when Gallup first starting polling on national pride, 87% said they were extremely or very proud — a number that's since plummeted.
