Search results for: alternative financing

Authors: Todor Nickolov Stoyanov

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These factors appear as a reason for difficulties in financing from programs for rural development of the European Union. Credit conditions for commercial banks are difficult to implement, and its interest rate is too high. One of the possibilities for short-term loans at preferential conditions for the small and medium-sized agricultural and forest owners is credit cooperative. After the changes, occurred in the country after 1990, the need to restore credit cooperatives raised. The purpose for the creation of credit cooperatives is to assist private agricultural and forest owners to take care for them, to assist in the expansion and strengthening of their farms, to increase the quality of life and to improve the local economy. It was found that: in Bulgaria there is a legal obstacle for credit cooperatives to expand their business in the deposit and lending sphere; private forest and agricultural owners need small loans to solve a small problem for a certain season; providing such loans is not attractive for banks, but it is extremely necessary for owners of small forests and lands; if a special law on credit cooperatives is adopted, as required by the Cooperatives Act, it will allow more local people to be members of such credit structures and receive the necessary loans. In conclusion, proposals to create conditions for the development of credit cooperatives in the country are made and positive results expected from the creation of credit cooperatives, are summarized.

Keywords: cooperatives, credit cooperatives, forestry, forest owners

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Authors: Ridwaan N. Milase, Leonardo J. Van Zyl, Marla Trindade

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American foulbrood (AFB) is the world’s most devastating honeybee disease that has drastically reduced the population of Apis mellifera capensis since 2009. The outbreak has jeopardized the South African bee keeping industry as well as the agricultural sector dependent on honeybees for honey production and pollination, leading to significant economic losses. AFB is caused by Paenibacillus larvae, a spore-forming, Gram positive facultative anaerobic and flagellated bacterium. The use of antibiotics within beehives has selected for resistant strains of P. larvae, while the current practice of burning spore contaminated beehives and equipment contributes to the economic losses in the honeybee-keeping industry. Therefore, phage therapy is proposed as a promising alternative to combat P. larvae strains affecting A. mellifera capensis. The genomes of two P. larvae strains isolated from infected combs in the Western Cape have been sequenced and annotated using bioinformatics tools. Genome analyses has revealed that these P. larvae strains are lysogens to more than 6 different prophages and possess different type of clustered regularly interspaced short palindromic repeat (CRISPRs) regions per strain. Active prophages from one of the two P. larvae strains were detected and identified using PCR. Electron microscopy was used to determine the family of the identified active prophages. Lytic bacteriophages that specifically target the two P. larvae strains were purified from sewage wastewater, beehive materials, and soil samples to investigate their potential development as anti-P. larvae agents. Another alternative treatment being investigated is the development of a prophage endolysin cocktail. Endolysin genes of the prophages have been targeted, cloned and expressed in Escherichia coli. The heterologously expressed endolysins have been purified and are currently being assessed for their lytic activity against P. larvae strains and other commensal microorganisms that compose the honeybee larvae microbiota. The study has shown that phage therapy and endolysins have a great potential as alternative control methods for AFB disease affecting A. mellifera capensis.

Keywords: American foulbrood, bacteriophage, honeybee, Paenibacillus larvae

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Authors: Hayati Sari Hasibuan, Tresna P. Soemardi, Raldi H. Koestoer, Setyo S. Moersidik

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Facing the severe transportation system in daily basis, the government of Indonesia were searching an alternative solution to combat the acute traffic jam and the socio-economic negative effects and pollutions resulted. Transit-oriented development as a strategy in reformulating and restructuring of the urban land uses as well as the transport system will be implemented in many urban areas in Indonesia, especially in Jabodetabek. Jabodetabek is the greatest metropolitan area in Indonesia with 27.9 million inhabitants. The Jabodetabek is also the center of economic activity with gross domestic product around 22 percent of gross national product. This study aims to assess the potential of economic development and community change effects with implementing the transit oriented development. This study found that using transit oriented development as an alternative approach in reconstructing of urban land uses in metropolitan region will effect to the behaviour of urban mobilities, the housing choices, and the cost of transportation. The sustainable of socio-economic aspects resulting from the transit oriented development is the main focus of this paper. The challenge here is to explore the characteristics of transit oriented development that suitable for metropolitan region in developing country,which considering the uniqueness of nature and socio-cultural that shapes this urban.

Keywords: economic development, community change, restructuring, land use, transportation, environment

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Authors: E. H. Hegazy, M. A. Mosaad, A. A. Tawfik, A. A. Hassan, M. Abbas

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The rapid depletion of petroleum reserves and rising oil prices has led to the search for alternative fuels. A promising alternative fuel Jatropha Methyl Easter, JME, has drawn the attention of researchers in recent times as a high potential substrate for production of biodiesel fuel. In this paper, the combustion, performance and emission characteristics of a single cylinder diesel engine when fuelled with JME, diesel oil and natural gas are evaluated experimentally and theoretically. The experimental results showed that the thermal and volumetric efficiency of diesel engine is higher than Jatropha biodiesel engine. The specific fuel consumption, exhaust gas temperature, HC, CO2 and NO were comparatively higher in Jatropha biodiesel, while CO emission is appreciable decreased. CFD investigation was carried out in the present work to compare diesel fuel oil and JME. The CFD simulation offers a powerful and convenient way to help understanding physical and chemical processes involved internal combustion engines for diesel oil fuel and JME fuel. The CFD concluded that the deviation between diesel fuel pressure and JME not exceeds 3 bar and the trend for compression pressure almost the same, also the temperature deviation between diesel fuel and JME not exceeds 40 k and the trend for temperature almost the same. Finally the maximum heat release rate of JME is lower than that of diesel fuel. The experimental and CFD investigation indicated that the Jatropha biodiesel can be used instead of diesel fuel oil with safe engine operation.

Keywords: dual fuel diesel engine, natural gas, Jatropha Methyl Easter, volumetric efficiency, emissions, CFD

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Authors: Ihtasham Hamza

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In the contemporary world, where the West is afflicted by the diseases of excess nutrition, much of the rest globe suffers at the hands of hunger. A troubling constituent of hunger is micronutrient deficiency, also called hidden hunger. Major dependence on calorie-rich diets and low diet diversification are responsible for high malnutrition rates, especially in African and Asian countries. But the dilemma isn’t immune to solutions. Highlighting the substantial cause to be sole dependence on staples for food, biofortification has emerged as a novel tool to confront the widely distributed jeopardize of hidden hunger. Biofortification potentials the better nutritional approachability to commonalities overcoming various difficulties and reaching the doorstep. The crops associated with biofortification offer a rural-based involvement that, proposal, primarily reaches these more remote populations, which comprise a majority of the malnourished in many countries, and then penetrates to urban populations as assembly overages are marketed. Initial investments in agricultural research at a central location can generate high recurrent benefits at low cost as adapted biofortified cultivars become widely available in countries across time at low recurrent costs as opposed to supplementation which is comparatively expensive and requires continued financing over time, which may be imperilled by fluctuating political curiosity.

Keywords: biofortified crops, hunger, malnutrition, agricultural practices

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Authors: Sabri Mrayed, David Maccioni, Greg Leslie

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Seawater desalination has been accepted as one of the most effective solutions to the growing problem of a diminishing clean drinking water supply. Currently, two desalination technologies dominate the market – the thermally driven multi-stage flash distillation (MSF) and the membrane based reverse osmosis (RO). However, in recent years membrane distillation (MD) has emerged as a potential alternative to the established means of desalination. This research project intended to determine the viability of MD as an alternative process to MSF and RO for seawater desalination. Specifically the project involves conducting a thermodynamic analysis of the process based on the second law of thermodynamics to determine the efficiency of the MD. Data was obtained from experiments carried out on a laboratory rig. In order to determine exergy values required for the exergy analysis, two separate models were built in Engineering Equation Solver – the ’Minimum Separation Work Model’ and the ‘Stream Exergy Model’. The efficiency of MD process was found to be 17.3 %, and the energy consumption was determined to be 4.5 kWh to produce one cubic meter of fresh water. The results indicate MD has potential as a technique for seawater desalination compared to RO and MSF. However, it was shown that this was only the case if an alternate energy source such as green or waste energy was available to provide the thermal energy input to the process. If the process was required to power itself, it was shown to be highly inefficient and in no way thermodynamically viable as a commercial desalination process.

Keywords: desalination, exergy, membrane distillation, second law efficiency

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Authors: Rodrigo Buaiz Boabaid

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Tokenization of Blue Bonds is an emerging Green Finance tool that has the potential to scale Blue Carbon Projects to fight climate change. This innovative solution has a huge potential to democratize the green finance market and catalyze innovations in the climate change finance sector. Switzerland has emerged as a leader in the Green Finance space and is well-positioned to drive the adoption of Tokenization of Blue & Green Bonds. This unique approach has the potential to unlock new sources of capital and enable global investors to participate in the financing of sustainable blue carbon projects. By leveraging the power of blockchain technology, Tokenization of Blue Bonds can provide greater transparency, efficiency, and security in the investment process, while also reducing transaction costs. Investments are in line with the highest regulations and designed according to the stringent legal framework and compliance standards set by Switzerland. The potential benefits of Tokenization of Blue Bonds are significant and could transform the way that sustainable projects are financed. By unlocking new sources of capital, this approach has the potential to accelerate the deployment of Blue Carbon projects and create new opportunities for investors to participate in the fight against climate change.

Keywords: blue carbon, blue bonds, green finance, Tokenization, blockchain solutions

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Authors: Patricia Jiménez, Rafael Corchuelo

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Nowadays the World Wide Web is the most popular source of information that relies on billions of on-line documents. Web mining is used to crawl through these documents, collect the information of interest and process it by applying data mining tools in order to use the gathered information in the best interest of a business, what enables companies to promote theirs. Unfortunately, it is not easy to extract the information a web site provides automatically when it lacks an API that allows to transform the user-friendly data provided in web documents into a structured format that is machine-readable. Rule-based information extractors are the tools intended to extract the information of interest automatically and offer it in a structured format that allow mining tools to process it. However, the performance of an information extractor strongly depends on the search heuristic employed since bad choices regarding how to learn a rule may easily result in loss of effectiveness and/or efficiency. Improving search heuristics regarding efficiency is of uttermost importance in the field of Web Information Extraction since typical datasets are very large. In this paper, we employ an information extractor based on a classical top-down algorithm that uses the so-called Information Gain heuristic introduced by Quinlan and Cameron-Jones. Unfortunately, the Information Gain relies on some well-known problems so we analyse an intuitive alternative, Termini, that is clearly more efficient; we also analyse other proposals in the literature and conclude that none of them outperforms the previous alternative.

Keywords: information extraction, search heuristics, semi-structured documents, web mining.

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Authors: Haroon Mahmood, Christopher Gan, Cuong Nguyen

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Maturity transformation risk is highlighted as one of the major causes of recent global financial crisis. Basel III has proposed new liquidity regulations for transformation function of banks and hence to monitor this risk. Specifically, net stable funding ratio (NSFR) is introduced to enhance medium- and long-term resilience against liquidity shocks. Islamic banking is widely accepted in many parts of the world and contributes to a significant portion of the financial sector in many countries. Using a dataset of 68 fully fledged Islamic banks from 11 different countries, over a period from 2005 – 2014, this study has attempted to analyze various factors that may significantly affect the maturity transformation risk in these banks. We utilize 2-step system GMM estimation technique on unbalanced panel and find bank capital, credit risk, financing, size and market power are most significant among the bank specific factors. Also, gross domestic product and inflation are the significant macro-economic factors influencing this risk. However, bank profitability, asset efficiency, and income diversity are found insignificant in determining the maturity transformation risk in Islamic banking model.

Keywords: Basel III, Islamic banking, maturity transformation risk, net stable funding ratio

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Authors: Chandan M. S., Darshan G. A., Vyshnavi, Abhishek T.

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In the evolving world of technology and digital assets, non-fungible tokens (NFTs) have emerged as the latest advancement. These digital assets represent ownership of intangible items and hold significant value. Unlike cryptocurrencies, like Ethereum or Bitcoin, NFTs cannot be exchanged due to their nature. Each NFT has an indivisible value. NFTs not only pave the way for financial services but also open up fresh opportunities for creators, buyers and artists. To revolutionize financing in the DeFi space, this proposed approach utilizes NFTs generated from digital arts. By eliminating intermediaries, this innovative method ensures trust and security in transactions. The idea entails automating borrower-lender interactions through contracts while securely storing data using blockchain technology. Borrowers can obtain funding by leveraging assets such as estate, artwork and collectibles that are often illiquid. The key component of this system is contracts that independently execute lending agreements and collateral transfers within predefined parameters. By leveraging the Ethereum blockchain, this project aims to provide consumers with access to a platform offering a wide range of financial services. The demonstration illustrates how NFT lending and borrowing is managed through contracts, providing a secure and trustworthy transaction environment.

Keywords: blockchain, defi, NFT, ethereum, marketplace

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Authors: Roberta Martino, Viviana Ventre

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Intertemporal choices are choices under conditions of uncertainty in which the consequences are distributed over time. The Discounted Utility Model is the essential reference for describing the individual in the context of intertemporal choice. The model is based on the idea that the individual selects the alternative with the highest utility, which is calculated by multiplying the cardinal utility of the outcome, as if the reception were instantaneous, by the discount function that determines a decrease in the utility value according to how the actual reception of the outcome is far away from the moment the choice is made. Initially, the discount function was assumed to have an exponential trend, whose decrease over time is constant, in line with a profile of a rational investor described by classical economics. Instead, empirical evidence called for the formulation of alternative, hyperbolic models that better represented the actual actions of the investor. Attitudes that do not comply with the principles of classical rationality are termed anomalous, i.e., difficult to rationalize and describe through normative models. The development of behavioral finance, which describes investor behavior through cognitive psychology, has shown that deviations from rationality are due to the limited rationality condition of human beings. What this means is that when a choice is made in a very difficult and information-rich environment, the brain does a compromise job between the cognitive effort required and the selection of an alternative. Moreover, the evaluation and selection phase of the alternative, the collection and processing of information, are dynamics conditioned by systematic distortions of the decision-making process that are the behavioral biases involving the individual's emotional and cognitive system. In this paper we present an original decomposition of the discount function to investigate the psychological principles of hyperbolic discounting. It is possible to decompose the curve into two components: the first component is responsible for the smaller decrease in the outcome as time increases and is related to the individual's impatience; the second component relates to the change in the direction of the tangent vector to the curve and indicates how much the individual perceives the indeterminacy of the future indicating his or her aversion to uncertainty. This decomposition allows interesting conclusions to be drawn with respect to the concept of impatience and the emotional drives involved in decision-making. The contribution that neuroscience can make to decision theory and inter-temporal choice theory is vast as it would allow the description of the decision-making process as the relationship between the individual's emotional and cognitive factors. Neurofinance is a discipline that uses a multidisciplinary approach to investigate how the brain influences decision-making. Indeed, considering that the decision-making process is linked to the activity of the prefrontal cortex and amygdala, neurofinance can help determine the extent to which abnormal attitudes respect the principles of rationality.

Keywords: impatience, intertemporal choice, neurofinance, rationality, uncertainty

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Authors: Mark E. Lokanan, Liz Lee

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This paper aims to examine the role of accountants as gatekeepers in anti-money laundering compliance in real estate transactions. The paper seeks to answer questions on ways in which accountants are involved in real estate transactions and mandatory compliance with regulatory authorities in Canada. The data for the study came from semi-structured interviews with accountants, lawyers, and government officials. Preliminary results reveal that there is a conflict between accountants’ obligation to disclose and loyalty to their clients. Accountants often do not see why they are obligated to disclose their clients' information to government agencies. The importance of the client in terms of the amount of revenue contributed to the accounting firm also plays a significant role in accountants' reporting decision-making process. Although the involvement of accountants in real estate purchase and sale transactions is limited to lawyers or notaries, they are often involved in designing financing schemes, which may involve money laundering activities. The paper is of wider public policy interests to both accountants and regulators. It is hard not to see Chartered Professional Accountant (CPA) Canada and government regulators using the findings to better understand the decision-making processes of accountants in their reporting practices to regulatory authorities.

Keywords: money laundering, real estate, disclosure, legislation, compliance

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Authors: Gert Van Schalkwyk, Chris Cloete

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South Africa is experiencing a massive housing backlog in urban low-cost housing. A backlog in the transfer of low-cost housing units is exacerbated by various impediments and delays that exist in the current legal framework. Structured interviews were conducted with forty-five practicing conveyancers and fifteen deeds office examiners at the Deeds Office in Pretoria, South Africa. One of the largest, the Deeds Office in Pretoria implements a uniform registration process and can be regarded as representative of other deeds offices in South Africa. It was established that a low percentage of low-cost properties are freely transferable. The main economic impediments are the absence of financing and the affordability or payment of rates and taxes to local government. Encroachment of buildings on neighboring stands caused by the enlargement of existing small units on small stands also causes long-term unresolved legal disputes. In addition, as the transfer of properties is dependent on the proper functioning of administrative functions of various government departments, the adverse service delivery of government departments hampers transfer. Addressing the identified problems will contribute to a more sustainable process for the transfer of low-cost housing units in South Africa.

Keywords: conveyancing, low-cost housing, South Africa, tenure, titling, transfer

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Authors: Moharram Sharifi

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Despite a growing interest in the study of the introduction section of Research Articles (RA), there have been few studies to investigate how academic writers engage with other voices and alternative positions in this academic genre. Therefore, the purpose of this study was to show how Native Speaker (NS) and (Non-Native Speaker (NNS) writers take positions and stances in research article introductions. For this purpose, Engagement resources based on the appraisal framework were investigated in sixty articles written by English NS and Iranian NNS published in applied linguistics journals. It was found that the mean occurrences of heteroglossic items in both corpora were larger than those of monoglossic items, but comparing the means of monoglossic engagements between the two corpora, it was revealed that NS writers’ corpus had larger mean occurrences of monoglossic engagements than NNS writers’ corpus implying the native’s stronger authorial stance in the texts. The results also revealed that there was no significant difference in the use of contractive and expansive engagements by NS writers (t (29) = -0.995, p>0.05), indicating a balanced use between the two options. However, the higher mean occurrences of expansive options compared with contractive options in the NNS corpus may suggest that NN writers open up more dialogic room for alternative positions in the RA introductions. The findings of this study may help writers to better perceive the creation of a strong authorial position using appropriate engagement resources in RA introductions.

Keywords: engagement, heteroglossic, monoglossic, introduction

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Authors: Farida, M. Shehu, Shehu U. R. Aliyu

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Access to finance has been recognized in the literature as one of the major impediments confronting small scale businesses (SSBs). This largely arises due to high lending rate, religious inclinations, collateral, etc. Islamic mode finance operates under Profit and Loss Sharing (PLS) arrangement between a borrower (business owner) and a lender (Islamic bank). This paper empirically assesses the determinants of predisposition of small scale business operators in Fagge local government area, Kano State, Nigeria, towards the PLS. Cross-sectional data from a sample of 291 small scale business operators was analyzed using logit and probit regression models. Empirical results reveal that while awareness and religion inclination positively drive interest towards the PLS, lending rate and collateral work against it. The paper, therefore, strongly recommends more advocacy campaigns and setting up of more Islamic banks in the country to cater for the financing and religious needs of SSBs in the study area.

Keywords: Islamic finance, logit and probit models, profit and loss sharing small scale businesses, finance, commerce

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Authors: Despina Yiakoumi, Agathe Rouaix

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Laboratory experiments were run to investigate the impact of different design characteristics of the auctions, which have been implemented to procure capacity in the UK’s reformed electricity markets. The experiment studies competition among bidders in procurement multi-unit discrete descending clock auctions under different feedback policies and pricing rules. Theory indicates that feedback policy in combination with the two common pricing rules; last-accepted bid (LAB) and first-rejected bid (FRB), could affect significantly the auction outcome. Two information feedback policies regarding the bidding prices of the participants are considered; with feedback and without feedback. With feedback, after each round participants are informed of the number of items still in the auction and without feedback, after each round participants have no information about the aggregate supply. Under LAB, winning bidders receive the amount of the highest successful bid and under the FRB the winning bidders receive the lowest unsuccessful bid. Based on the theoretical predictions of the alternative auction designs, it was decided to run three treatments. First treatment considers LAB with feedback; second treatment studies LAB without feedback; third treatment investigates FRB without feedback. Theoretical predictions of the game showed that under FRB, the alternative feedback policies are indifferent to the auction outcome. Preliminary results indicate that LAB with feedback and FRB without feedback achieve on average higher clearing prices in comparison to the LAB treatment without feedback. However, the clearing prices under LAB with feedback and FRB without feedback are on average lower compared to the theoretical predictions. Although under LAB without feedback theory predicts the clearing price will drop to the competitive equilibrium, experimental results indicate that participants could still engage in cooperative behavior and drive up the price of the auction. It is showed, both theoretically and experimentally, that the pricing rules and the feedback policy, affect the bidding competitiveness of the auction by providing opportunities to participants to engage in cooperative behavior and exercise market power. LAB without feedback seems to be less vulnerable to market power opportunities compared to the alternative auction designs. This could be an argument for the use of LAB pricing rule in combination with limited feedback in the UK capacity market in an attempt to improve affordability for consumers.

Keywords: descending clock auctions, experiments, feedback policy, market design, multi-unit auctions, pricing rules, procurement auctions

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Authors: Xiao Luo, Jayashree Arcot, Timothy P. Gill, Jimmy C. Louie, Anna M. Rangan

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Excessive consumption of added sugar is negatively associated with many health outcomes such as lower diet quality, dental diseases and other non-communicable diseases. Sugar-sweetened baked goods are popular discretionary foods that contribute significant amounts of added sugar to people’s diets worldwide. Food reformulation is of the most effective methods to reduce consumption of added sugar without significantly altering individual's diet pattern. However, sucrose, as the major sugar in baked goods, plays several vital functional roles such as providing sweetness and bulking, and suitable substitutes must be able to address these. The review examines the literature on sugar-reduced baked goods to summarise the feasible reformulations of low/no added sugar baked goods, and indicates the future directions for healthier baked goods reformulation. Based on this review, polyols and non-nutritive sweeteners (NNS) are suitable for alternative sweeteners to partially or fully replace sucrose in baked goods. Low-calorie carbohydrates such as oligofructose, polydextrose, maltodextrins are the mostly used bulking agents to compensate the loss of bulk due to the removal of sucrose. This review found that maltitol seems the most suitable sole sucrose substitution at present, while diverse mixtures of NNS( stevia, sucralose, acesulfame-K), other polyols and inulins can also deliver the functionalities of sucrose in baked products.

Keywords: alternative sweeteners, baked goods, reformulation, sugar reduction

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Authors: V. C. Santos-Ebinuma, J. F. B. Pereira, M. F. S. Teixeira, A. Pessoa Jr., P. Jauregi

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There is worldwide interest in process development for colorants production from natural sources. Microorganisms provide an alternative source of natural colorants which can be produced by cultivation technology and extracted from fermented broth. The aim of the present work was to study the recovery of red colorants from fermented broth of Penicillium purpurogenum DPUA 1275 using the technique of Colloidal Gas Aphrons (CGA); CGA are surfactant-stabilized microbubbles generated by intense stirring of a surfactant solution. CGA were generated by the cationic, hexadecyl trimethyl ammonium bromide (CTAB) surfactant. Firstly, experiments were carried out at different surfactant/fermented broth volumetric ratios (VCGA/VFB, VRATIO) varying between 3 and 18 at pH 6.9. Secondly, the experiments were carried out at VRATIO of 6 and 12 in different pH, namely, 6.9, 8.0, 9.0 and 10.0. The first results of recovery showed that an increase in the VRATIO from 3 to 6 and 12 promoted an increase as recovery as partition coefficient. However, at VRATIO of 18 the lowest partition coefficient was obtained. The best results were achieved at VRATIO of 6 and 12, namely recovery, Re, around 60% and partition coefficient, K, of 2.5 and 3.0 to 6 and 12 VRATIO, respectively. The second set of experiments showed that the pH 9.0 promoted the best results at VRATIO of 12 as follow: Re=70%, K=5.39, proteins and sugar selectivity (SePROT, 3.75 and SeSUGAR, 7.20, respectively). These results indicate that with CTAB the recovery is mainly driven by electrostatic interactions. In conclusion, the results above show that CGA employing a cationic surfactant is a promissory technique and it can be used as the first step of purification to recovery red colorants from fermented broth.

Keywords: liquid-liquid extraction, colloidal gas aphrons, recovery, natural colorants

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Authors: Carolijn Van Noort

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The aim of this research is to understand how the emerging power bloc BRICS employs infrastructure development narratives to construct a new world order. BRICS is an international body consisting of five emerging countries that collaborate on economic and political issues: Brazil, Russia, India, China, and South Africa. This study explores the projection of infrastructure development narratives through an analysis of BRICS’ attention to infrastructure investment and financing, its support of the New Partnership on African Development and the establishment of the New Development Bank in Shanghai. The theory of Strategic Narratives is used to explore BRICS’ commitment to infrastructure development and to distinguish three layers: system narratives (BRICS as a global actor to propose development reform), identity narratives (BRICS as a collective identity joining efforts to act upon development aspirations) and issue narratives (BRICS committed to a range of issues of which infrastructure development is prominent). The methodology that is employed is a narrative analysis of BRICS’ official documents, media statements, and website imagery. A comparison of these narratives illuminates tensions at the three layers and among the five member states. Identifying tensions among development infrastructure narratives provides an indication of how policymaking for infrastructure development could be improved. Subsequently, it advances BRICS’ ability to act as a global actor to construct a new world order.

Keywords: BRICS, emerging powers, infrastructure development, strategic narratives

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Authors: Tanvir A. Uddin, Blake Goud

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Emerging trends in FinTech-enabled alternative finance, which includes channels and instruments emerging outside the traditional financial system, heralds unprecedented opportunities to improve financial intermediation and increase access to finance. With widespread criticism of the mainstream Islamic banking and finance sector as either mimicking the conventional system, failing to achieve inclusive growth or both, industry stakeholders are turning to technology to show that finance can be done differently. This paper will outline the critical elements for successful deployment of technology to maximize benefit and minimize potential for harm from introduction of Islamic FinTech and propose recommendations for Islamic financial institutions, FinTech companies, regulators and other stakeholders who are integrating or who are considering introducing FinTech solutions. The paper will present an overview of literature, present relevant case studies and summarize the lessons from interviews conducted with Islamic FinTech founders from around the world. With growing central bank concerns about leveraged loans and ballooning private credit markets globally (estimated at $1.4 trillion), current and future Islamic FinTech operators are at risk of contributing to the problems they aim to solve by operating in a 'shadow banking' system. The paper will show that by systematising a robust theory of change linked to positive outcomes, utilising objective impact frameworks (e.g., the Impact Measurement Project) and instilling a risk management culture that is proactive about potential social harm (e.g., irresponsible lending), FinTech can enable the Islamic finance industry to support positive social impact and minimize harm in support of the maqasid. The adoption of FinTech within the Islamic finance context is still at a nascent stage and the recommendations we provide based on the limited experience to date will help address some of the major cross-cutting issues related to FinTech. Further research will be needed to elucidate in more detail issues relating to individual sectors and countries within the broader global Islamic finance industry.

Keywords: alternative finance, FinTech, Islamic finance, maqasid, theory of change

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Authors: Renee Moten

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Introduction: Knee pain becomes chronic because the therapy used focuses only on the symptoms of knee pain and not the causes of knee pain. Preventing knee injuries is not in the toolbox of the traditional practitioner. This research was done to show that we must reduce the inflammation (holistically), reduce the swelling and regain flexibility before considering any type of exercise. This method of performing the correct exercise stops the bowing of the knee, corrects the walking gait, and starts to relieve knee, hip, back, and shoulder pain. Method: The holistic method that is used to heal knees is called the Knee Pain Recipe. It’s a six step system that only uses alternative medicine methods to reduce, relieve and restore knee joint mobility. The system is low cost, with no hospital bills, no physical therapy, and no painkillers that can cause damage to the kidneys and liver. This method has been tested on 200 women with knee, back, hip, and shoulder pain. Results: All 200 women reduce their knee pain by 50%, some by as much as 90%. Learning about ankle and foot flexibility, along with understanding the kinetic chain, helps improve the walking gait, which takes the pressure off the knee, hip and back. The knee pain recipe also has helped to reduce the need for a cortisone injection, stem cell procedures, to take painkillers, and surgeries. What has also been noted in the research was that if the women's knees were too far gone, the Knee Pain Recipe helped prepare the women for knee replacement surgery. Conclusion: It is believed that the Knee Pain Recipe, when performed by men and women from around the world, will give them a holistic alternative to drugs, injections, and surgeries.

Keywords: knee, surgery, healing, holistic

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Authors: Caterina Grandi, Lukas Lochner, Marco Padovan, Mirco Rizzi, Paola Sperinde, Fabio Vittadello, Luisa Cavada

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Background: In recent years, the use of Complementary Alternative Medicine (CAM) has achieved worldwide popularity. With the increased public interest in CAMs, attention to it within Health Care Schools and Colleges has also improved. Studies generally assess the knowledge and attitudes regarding CAMs in medical and nursing students. The current study focused on the knowledge, attitudes and practice of CAM in healthcare students. Aim: To assess the knowledge and attitudes regarding complementary and alternative medicine (CAM) in healthcare students in South Tyrol, a region in Northern Italy. Methodology: This cross-sectional study was carried out among 361 students. Self-administered questionnaire was adapted and modified by the researchers from several questionnaires. The instrument consisted of three sections: 1) demographical characteristics (gender, place of residence and year of study); 2) general attitudes towards CAM, evaluated through 11 items using a Likert scale (agree, partly agree, partly disagree, disagree); 3) knowledge and use about any particular CAM practices (acupuncture, aromatherapy, creative therapies, diet/nutritional therapies, phytotherapy/herbal therapies, compresses, massage therapy, Ayurvedic therapy, Tibetan medicine, naturopathy, homeopathy, pet therapy, reflexology, therapeutic touch, chiropractic/osteopathy). Results: The sample consisted of 63 males and 297 females, 58% living in villages. 151 students (42%) were in the first year, 99 (27%) in the second and 106 (30%) in the third. Both men and women agreed with statements about the utility and benefits of CAMs. Women were significantly more likely than men to agree that the CAM practices should be included in the curriculum (p < 0.004), that the health professionals should be able to advice their patients about commonly used CAM methods (p < 0.002) and that the clinical care should integrate CAM practices (p < 0.04). Students in the second year showed the highest mean score for the statement 'CAM includes ideas and methods from which conventional medicine could benefit' (p = 0.049), highlighting a positive attitude, while students in the third year achieved the lowest mean score for the negative statement 'The results of CAM are in most cases due to a placebo effect'. Regarding this statement, participants living in villages disagreed significantly than students living in the city (p < 0.001). Females appeared to be significantly more familiar with homeopathy (p < 0.002), aromatherapy (p < 0.033), creative therapies (p < 0.001) and herbal therapies (p<0.002) than males. Moreover, women were likely to use CAM more frequently than men, particularly to solve psychological problems (p < 0.004). In addition, women perceived the benefit significantly more positive than men (p < 0.001). Students in the second year revealed to use the CAM mostly to improve the quality of life (p < 0.023), while students in the third year used CAMs particularly for chronic diseases (p < 0.001). Conclusions: Results from this study suggested that female students show more positive attitudes on CAM than male students. Moreover, the prevalence of CAM use and its perceived benefits differ between males and females, so that women are more willing to use CAM practices.

Keywords: attitude, CAM, complementary and alternative medicine, healthcare students, knowledge

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Authors: Ursula D'Almeida, Danielly Aliprandi

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A car-based development is observed in our cities, what leads to social and environmental impacts, such as air pollution, excessive noises and the substitution of public open spaces for roads and parking lots. Concerning the efforts to promote a sustainable development, a key issue is the reduction of fossil fuels consumption. An alternative to the pollutant gases emission, especially from urban transportation, is the incentive for active transport. The promoting of non-motorized travels and locomotion ways that only depend on human propulsion meets the sustainable mobility notion. Walking is one of the healthiest, cleanest, most natural and economical means to move around. Also, it integrates part of public transportation travels. Since walking demands physical effort, it is sensitive to environmental conditions. In urban space, not always we come across pedestrian friendly road structures. Based on the theory of walkability, the present paper aims to discuss the walking conditions in city centers by analyzing the distribution of urban services and uses, and this also regarding sidewalks quality. The case study presented is the urban center in the medium-sized Brazilian city Campos dos Goytacazes, in Rio de Janeiro State. The study also brings contributions to the recovering of underused public open spaces, especially by encouraging their use and appropriation through valuing non-motorized travels conditions.

Keywords: active transport, historical center, sustainable mobility, walking

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Authors: Lynne Soon-Chean Park

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Critical Realism (CR) has emerged as an alternative to both the positivist and constructivist perspectives that have long dominated social work research. By unpacking the epistemic weakness of two dogmatic perspectives, CR provides a useful philosophical approach that incorporates the ontological objectivist and subjectivist stance. The CR perspective suggests an alternative approach for social work researchers who have long been looking to engage in the complex interplay between perceived reality at the empirical level and the objective reality that lies behind the empirical event as a causal mechanism. However, despite the usefulness of CR in informing social work research, little practical guidance is available about how CR can inform methodological considerations in social work research studies. This presentation aims to provide a detailed description of CR-informed thematic analysis by drawing examples from a social work doctoral research of Korean migrants’ experiences and understanding of trust associated with their settlement experience in New Zealand. Because of its theoretical flexibility and accessibility as a qualitative analysis method, thematic analysis can be applied as a method that works both to search for the demi-regularities of the collected data and to identify the causal mechanisms that lay behind the empirical data. In so doing, this presentation seeks to provide a concrete and detailed exemplar for social work researchers wishing to employ CR in their qualitative thematic analysis process.

Keywords: critical Realism, data analysis, epistemology, research methodology, social work research, thematic analysis

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Authors: Piriya Pholphirul, Pungpond Rukumnuaykit

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Contrary to studies of other migrant-receiving countries, most of which are developed countries, this paper examines impacts of immigrant workers on innovative capacities in Thailand, which is not only a representative of a receiving country that is a developing country but also a country where the majority of its immigrant workers are unskilled. Analysis of firm-level survey data in Thailand finds that employing unskilled and cheap labor from neighboring countries, namely, Myanmar, the Lao PDR, and Cambodia, is like adopting a kind of “labor-saving technology” which actually impedes firms’ R&D investment. Contrary to developed countries in which immigrants are found to boost innovation and promote sustainable growth, in Thailand, even though employing unskilled immigrant workers helps firms maintain their cost competitiveness in the short run, its negative impacts on R&D investment tend to hamper improvements in productivity and thus diminish global competitiveness in the long run. Employing skilled or educated migrants, on the other hand, complements technological progress and encourages firms to innovate more quickly. In addition, the paper finds that providing government incentives and promoting access to financing have become effective tools in facilitating Thai firms’ investment in innovation.

Keywords: immigration, innovation, developing country, Thailand

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Authors: Ali Bakari Mohammed

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Transitioning is a continuous process of radical change in a society which involves co-evolution of institutional, technological, socio-cultural, and ecological developments at different scales and levels. Transition management model is a methodology that influences structural change of complex systems over a period (0-30 years) by experimenting and implementing new techniques. A transition management in the context of groundwater is a radical change from the current operate and control system to a next generation integrated and sustainable system that takes into account quality protection and sustained supply into the future. This study evaluates the transition management model in adopting it as a viable tool for the attainment of sustainable groundwater management. The outcome of the evaluation shows that there are three levels (strategic, tactical and operational) of operating the transition management model. At the strategic level, long-term goals for sustainable groundwater management are formulated, at the tactical level activities such as inter institutional networking, negotiation, planning and financing are carried out, and at the operational level, transition experiments and strategic niche management are carried out at the societal level. Overall, different actors and set of activities are required to partake at each management level. The outcome of this paper will provide basis for the implementation of the Sustainable Development Goal (SDG) 6 in Nigeria.

Keywords: transition management, groundwater, sustainable management, tool, Nigeria

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Authors: Mohd Adil, Rosina Khan, Danishuddin, Asad U. Khan

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The aim of this study was to evaluate the influence of the crude and active solvent fraction of Trachyspermum ammi on S. mutans cariogenicity, effect on expression of genes involved in biofilm formation and caries development in rats. GC–MS was carried out to identify the major components present in the crude and the active fraction of T. ammi. The crude extract and the solvent fraction exhibiting least MIC were selected for further experiments. Scanning electron microscopy was carried out to observe the effect of the extracts on S. mutans biofilm. Comparative gene expression analysis was carried out for nine selected genes. 2-Isopropyl-5-methyl-phenol was found as major compound in crude and the active fraction. Binding site of this compound within the proteins involved in biofilm formation was mapped with the help of docking studies. Real-time RT-PCR analyses revealed significant suppression of the genes involved in biofilm formation. All the test groups showed reduction in caries (smooth surface as well as sulcal surface caries) in rats. Moreover, it also provides new insight to understand the mechanism influencing biofilm formation in S. mutans. Furthermore, the data suggest the putative cariostatic properties of T. Ammi and hence can be used as an alternative medicine to prevent caries infection.

Keywords: bio-film, Streptococcus mutans, dental caries, bio-informatic

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Authors: Abhishek Khupsare, Ajay Parmar, Ajay Agarwal, Swapnil Wanjari

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The extreme demand for aggregate leads to the exploitation of river-bed for fine aggregates, affecting the environment adversely. Therefore, a suitable alternative to natural river sand is essentially required. This study focuses on preventing environmental impact by developing polymer sand to replace natural river sand (NRS). Development of polymer sand by mixing high volume fly ash, bottom ash, cement, natural river sand, and locally purchased high solid content polycarboxylate ether-based superplasticizer (HS-PCE). All the physical and chemical properties of polymer sand (P-Sand) were observed and satisfied the requirement of the Indian Standard code. P-Sand yields good specific gravity of 2.31 and is classified as zone-I sand with a satisfactory friction angle (37˚) compared to natural river sand (NRS) and Geopolymer fly ash sand (GFS). Though the water absorption (6.83%) and pH (12.18) are slightly more than those of GFS and NRS, the alkali silica reaction and soundness are well within the permissible limit as per Indian Standards. The chemical analysis by X-Ray fluorescence showed the presence of high amounts of SiO2 and Al2O3 with magnitudes of 58.879% 325 and 26.77%, respectively. Finally, the compressive strength of M-25 grade concrete using P-sand and Geopolymer sand (GFS) was observed to be 87.51% and 83.82% with respect to natural river sand (NRS) after 28 days, respectively. The results of this study indicate that P-sand can be a good alternative to NRS for construction work as it not only reduces the environmental effect due to sand mining but also focuses on utilising fly ash and bottom ash.

Keywords: polymer sand, fly ash, bottom ash, HSPCE plasticizer, river sand mining

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Authors: Richard Ssempala, Francis Kintu, Christine K. Tashobya

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Funding for health remains a key constraint facing many developing countries, Uganda inclusive. Uganda’s health sector budget to the national budgetary allocation has stagnated between 8.2% to 10% over the years. Using data collected from different government documents, we sought to establish the implications of the budget allocation over the period (FY2010/11-2018/19) on health services delivery in Uganda to inform policymakers specifically Members of Parliament who are critical in making sectorial allocation on the steps they can adapt to change the terrain of health financing in Uganda. Findings revealed that the contribution of public funding to the health sector is low (15.7%) with private sources (42.6%) and donors contributing much more, with the bulk of private funds, are out of pocket. The study further revealed that low budget allocation had been manifested in inadequate and poorly motivated health workers, essential drug stock-outs that ultimately contribute to poor access to services, catastrophic health expenditures, and high morbidity rates. We recommend for a substantial and sustained increase in the government health budget, optimizing the available resources by addressing wastages, prioritizing health promotion, prevention and finally, institutionalizing the National Health Insurance Scheme.

Keywords: budget allocations, universal health coverage, health service delivery, Uganda

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Authors: Marwen Ghouil, Jamel Eddine Mkadmi

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Banking performance is the pillar and goal of all banking activity and its impact on economic policy. First, researchers defined the principles for assessing and modeling bank performance, and then theories and models explaining bank performance were developed. The importance of credit as a means of financing businesses in most developing countries has led to questions about the effects of financial liberalisation on increased banking competition. In Tunisia, as in many other countries, the liberalization of financial services in general and of banks' activities has not ceased to evolve. The objective of this paper is to examine the determinants of banking performance for 8 Tunisian banks and their impact on economic policy during the Arab Spring. We used cointegration analysis and the ARDL Panel model, explaining using total assets, bank credits, guarantees, and bank size as performance drivers. The correlation analysis shows that there is a positive correlation relationship between total assets, bank credits, guarantees, and bank size and bank performance. Long-term empirical results show that bank loans, guarantees, bank size, and total assets have a positive and significant impact on bank performance. This means that bank credits, guarantees, bank size, and total assets are very important determinants of bank performance in Tunisia.

Keywords: bank performance, economic policy, finance, economic

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