Search results for: International Centre for Settlement of Investment Disputes UNCITRAL
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 6373

Search results for: International Centre for Settlement of Investment Disputes UNCITRAL

5803 Economic Evaluation of an Advanced Bioethanol Manufacturing Technology Using Maize as a Feedstock in South Africa

Authors: Ayanda Ndokwana, Stanley Fore

Abstract:

Industrial prosperity and rapid expansion of human population in South Africa over the past two decades, have increased the use of conventional fossil fuels such as crude oil, coal and natural gas to meet the country’s energy demands. However, the inevitable depletion of fossil fuel reserves, global volatile oil price and large carbon footprint are some of the crucial reasons the South African Government needs to make a considerable investment in the development of the biofuel industry. In South Africa, this industry is still at the introductory stage with no large scale manufacturing plant that has been commissioned yet. Bioethanol is a potential replacement of gasoline which is a fossil fuel that is used in motor vehicles. Using bioethanol for the transport sector as a source of fuel will help Government to save heavy foreign exchange incurred during importation of oil and create many job opportunities in rural farming. In 2007, the South African Government developed the National Biofuels Industrial Strategy in an effort to make provision for support and attract investment in bioethanol production. However, capital investment in the production of bioethanol on a large scale, depends on the sound economic assessment of the available manufacturing technologies. The aim of this study is to evaluate the profitability of an advanced bioethanol manufacturing technology which uses maize as a feedstock in South Africa. The impact of fiber or bran fractionation in this technology causes it to possess a number of merits such as energy efficiency, low capital expenditure, and profitability compared to a conventional dry-mill bioethanol technology. Quantitative techniques will be used to collect and analyze numerical data from suitable organisations in South Africa. The dependence of three profitability indicators such as the Discounted Payback Period (DPP), Net Present Value (NPV) and Return On Investment (ROI) on plant capacity will be evaluated. Profitability analysis will be done on the following plant capacities: 100 000 ton/year, 150 000 ton/year and 200 000 ton/year. The plant capacity with the shortest Discounted Payback Period, positive Net Present Value and highest Return On Investment implies that a further consideration in terms of capital investment is warranted.

Keywords: bioethanol, economic evaluation, maize, profitability indicators

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5802 Biodiversity and Biotechnology: Some Considerations about the International Regulation of Agriculture and the International Legal System on Access to Genetic Resources

Authors: Leandro Moura da Silva

Abstract:

The international community has strived to create legal mechanisms to protect their biodiversity, but this can represent, sometimes, particularly in the case of regulatory regime on access to genetic resources, an excessive nationalism which transforms itself into a significant obstacle to scientific progress causing damages to the country and to local farmers. Although it has been poorly publicized in the media, the international legal system was marked, in 2014, by the entry into force of the Nagoya Protocol, which regulates the access and benefit sharing of genetic resources of the States Party to that legal instrument. However, it’s not reasonable to think of regulating access to genetic resources without reflecting on the links of this important subject with other related issues, such as family farming and agribusiness, food safety, food security, intellectual property rights (on seeds, genetic material, new plant varieties, etc.), environmental sustainability, biodiversity, and biosafety.

Keywords: international law, regulation on agriculture, agronomy techniques, sustainability, genetic resources and new crop varieties, CBD, Nagoya Protocol, ITPGRFA

Procedia PDF Downloads 501
5801 A Survey on How Faculty Perceive and Quest for Modes of Internationalization in a Private Higher Education Institution

Authors: Hanife Akar, Basak Calik, Gulcin Gulmez-Dag, Elanur Yilmaz

Abstract:

Internationalization in higher education (IHE) has been a longstanding issue in the Western World but its impact has travelled beyond its borders. As a developing country, universities in Turkey also have put into their agendas strategic plans for IHE to compete with global trends and benchmarked universities. The purpose of this study was to explore how faculty in a private university in Mid Anatolia would like see modes of internationalization in their institution through a survey design and understand their quest for internationalization. Findings indicate that participants (N=49) are internationalized in different ways, from holding international Ph.D. degrees to postdoctoral degrees, or being international faculty themselves. Participants’ visions seem to be affected by the type of programs they are in, and many consider being a part of an international joint program or having international students and faculty are an essential component in IHE. In addition to holding joints degrees, and exchange or international human sources, participants quest for more collaboration for R&D, more comparative research opportunities, and examine or develop curricula from a global perspective.

Keywords: faculty, higher education, internationalization, visions

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5800 A Qualitative Study of a Workplace International Employee Health Program

Authors: Jennifer Bradley

Abstract:

With opportunities to live and work abroad on the rise, effective preparation and support for international employees needs to be addressed within the work-site. International employees must build new habits, routines and social networks in an unfamiliar culture. Culture shock typically occurs within the first year and can affect both physical and psychological health. Employers have the opportunity to support staff through the adaptation process and foster healthy habits and routines. Cross-cultural training that includes a combination of instructional teaching, cultural experiences, and practice, is shown to increase the international employee adaptation process. However, little evidence demonstrates that organizations provide all of these aspects for international employees. The occupational therapy practitioner (OTP) offers a unique perspective focusing on the employee transactional relationship and engagement of meaningful occupations to enhance and enable participation in roles, habits and routines within new cultural contexts. This paper examines one such program developed and implemented by an OTP at the New England Center for Children, in Abu Dhabi, United Arab Emirates. The effectiveness of the program was assessed via participant feedback and concluded that an international employee support program that focuses on a variety of meaningful experiences and knowledge can empower employees to navigate healthy practices, develop habits and routines, and foster positive inter-cultural relationships in the organization and community.

Keywords: occupational therapy practitioner, cross cultural training, international employee health, international employee support

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5799 Working Capital Efficiency and Firm Profitability: Nigeria and Kenya

Authors: Lucian J. Pitt

Abstract:

The primary purpose of this study is to understand the differences in the relationship between working capital management efficiency, working capital investment decisions and working capital finance decisions and the profitability of firms within the context of two African developing economies, Kenya and Nigeria. The study finds that there is a significant difference in the relationship between the firm’s profitability and the working capital variables which suggests different challenges for working capital management in each of these countries.

Keywords: working capital management, working capital investment, working capital finance, profitability, cash conversion cycle

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5798 Counter-Hegemonic Movements and Their Consequences at the International Level: Transposing Gramsci to the 21st Century

Authors: Hanna Corsini

Abstract:

This article provides an analysis of counter-hegemonic movements and their consequences for the neoliberal world order at the international level. Even if calls for change are becoming louder, current research on populist forces at the domestic level in comparative politics is lacking an investigation of the international dimensions of the rise of such movements. At the same time, in the International Relations field, the focus still remains on the surge of challengers at the global level, while the national one stays neglected. This paper argues that to fill this gap as identified in the academic literature, the concept of hegemony, and more precisely, as deployed by Antonio Gramsci, can bear some interesting insights. An adaptation to the 21st century of Gramsci’s concept is proposed, highlighting the explanatory power that key concepts of his theoretical framework have. Transposing it to contemporary politics provides precious elements for an in-depth understanding of counter-hegemonic movements and the consequences of their rise for the neoliberal world order. In an era of disruption and turmoil in national politics, International Relations theory cannot avoid to engage with this dimension. However, populism as a theoretical concept lacks the capacity to go beyond the domestic border. It is therefore essential to create a dialogue between these two fields. Ultimately, the paper claims that (counter-)hegemony is crucial to build a bridge between the international and the domestic level.

Keywords: counter-hegemonic movements, Gramsci, hegemony, international relations

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5797 International Protection Mechanisms for Refugees

Authors: Djehich Mohamed Yousri

Abstract:

In recent years, the world has witnessed a phenomenon of displacement that is unprecedented in history. The number of refugees has reached record levels, due to wars, persecution, many conflicts and repression in a number of countries. The interest of United Nations bodies and international and regional organizations in the issue of refugees has increased, as they have defined a refugee and thus Determining who is entitled to this legal protection, and the 1951 Convention for the Protection of Refugees defines rights for refugee protection and sets obligations that they must perform. The institutional mechanisms for refugee protection are represented in the various agencies that take care of refugee affairs. At the forefront of these agencies is the United Nations High Commissioner for Refugees, as well as the various efforts provided by the International Committee of the Red Cross and the United Nations Relief and Works Agency for Palestine Refugees in the Middle East (UNRWA).

Keywords: protection, refugees, international, persecution, legal

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5796 The Application of International Law in Terms of Earthlife Africa Johannesburg and Another v Minister of Energy and Others 65662/16 (2017) Case

Authors: M. van der Bank

Abstract:

This study involves a legal analysis of the case Earthlife Africa Johannesburg v Minister of Environmental Affairs and Others. The case considered the impact of the Thabametsi Power Project if it operated to the expected year 2060 on the global climate and ever-changing climate, in South Africa. This judgment highlights the significance, place and principles of climate change and where climate change impacts the South African environmental law which has its founding principles in the Constitution of the Republic of South Africa, 1996. This paper seeks to examine the advances for climate change regulation and application in terms of international law, in South Africa, through a qualitative study involving comparative national and international case law. A literature review study was conducted to compare and contrast the various aspects of law in order to support the argument undertaken. The paper presents a detailed discussion of the current legislation and the position as it currently stands with reference to international law and interpretation. The relevant protections as outlined in the National Environmental Management Act will be discussed. It then proceeds to outline the potential liability of the Minister in the interpretation and application of international law.

Keywords: climate change; environment, environmental review, international law; and principles

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5795 Survey of Personality Characteristics in Adolescents under the Care of Tehran Juvenile Detention Center

Authors: Jamal Shokrzadehmadiyeh, Kambiz Kamkari, Shohreh Shokrzadeh

Abstract:

According to the research topic, the purpose of the current paper is to research personality characteristics in adolescents under the care of the Tehran Juvenile Detention Centre, and a survey research method has been used. In this regard, through systematic random sampling, 120 people from the research population were selected as a sample, who were referred to Tehran Juvenile Detention Centre after the decision was reached by the court. Data collection was carried out by separate examination using NEO-PI-III personality inventory, and statistical analysis was done using a one-sample t-test. Finally, the results of the research revealed that the level of neuroticism is higher than the average level, the level of conscientiousness is lower than the average level, and the level of extraversion, agreeableness, and openness are at the average level.

Keywords: personality characteristics, adolescents, Juvenile Detention Center, Tehran city

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5794 Significant Stressed Zone of Highway Embankment

Authors: Sharifullah Ahmed, P. Eng

Abstract:

The Axle Pressure and the Consolidation Pressure decrease with the height of the highway embankment and the depth of subsoil. This reduction of pressure depends on the height and width of the embankment. The depth is defined as the significantly stressed zone at which the pressure is reduced to 0.2 or 20%. The axle pressure is reduced to 7% for embankment height 1-3m and to 0.7% for embankment height 4-12m at the bottom level of Highway Embankment. This observation implies that, the portion of axle pressure transferred to subsoil underlying the embankment is not significant for ESAL factor 4.8. The 70% consolidation to have occurred after the construction of the surface layer of pavement. Considering this ratio of post construction settlement, 70% consolidation pressure (Δσ70) is used in this analysis. The magnitude of influence depth or Significant Stressed Zone (Ds) had been obtained for the range of crest width (at the top level of the embankment) is kept between 5m and 50m and for the range of embankment height from 1.0m to 12.0m considering 70% of consolidation pressure (Δσ70). Significantly stressed zones (Ds) for 70% embankment pressure are found as 2-6.2He for embankment top width 5-50m.

Keywords: consolidation pressure, consolidation settlement, ESAL, highway embankment, HS 20-44, significant stressed zone, stress distribution

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5793 State’s Responsibility of Space Debris

Authors: Athari Farhani

Abstract:

Abstract The existence of space debris is a direct implication of human activities in outer space. The amount of orbital debris resulting from human exploration and use of outer space has been steadily increasing in the history of human exploration and use of outer space, so that space debris in the responsibility of the launching state. Space debris not only hs a direct impact on environmentalpollution but can also harm and endanger the safety of human life. Despite the legal provisions governing the exploration and use of outer space, both international space law and liability convention, however, these legal provisions are only basic prinsiples, so that further thought or effort are needed, such as new international legal instruments to regulate the existence of space debris. The method used in this research is normative juridical with an approach to written legal regulation, especially international agreements related to space law.

Keywords: state’s responsibility, space debris, outerspace, international law

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5792 Juridically Secure Trade Mechanisms for Alternative Dispute Resolution in Transnational Business Negotiations

Authors: Linda Frazer

Abstract:

A pluralistic methodology focuses on promoting an understanding that an alternative juridical framework for the regulation of transnational business negotiations (TBN) between private business parties is fundamentally required. This paper deals with the evolving assessment of the doctoral research of the author which demonstrated that due to insufficient juridical tools, negotiations are commonly misunderstood within the complexity of pluralistic and conflicting legal regimes. This inadequacy causes uncertainty in the enforcement of legal remedies, leaving business parties surprised. Consequently, parties cannot sufficiently anticipate when and how legal rights and obligations are created, often counting on oral or incomplete agreements which may lead to the misinterpretation of the extent of their legal rights and obligations. This uncertainty causes threats to business parties for fear of creating unintended legal obligations or, conversely, that law will not enforce intended agreements for failure to pass the tests of contractual validity. A need to find a manner to set default standards of communications and standards of conduct to monitor our evolving global trade would aid law to provide the security, predictability and foreseeability during alternative dispute resolution required by TBN parties. The conclusion of this study includes a proposal of new trade mechanisms, termed 'Bills of Negotiations' (BON) to enhance party autonomy and promote the ability for TBN parties to self-regulate within the boundaries of law. BON will be guided by a secure juridical institutionalized setting that caters to guiding communications during TBN and resolving disputes that arise along the negotiation processes on a fast track basis.

Keywords: alternative resolution disputes, ADR, good faith, good faith, juridical security, legal regulation, trade mechanisms, transnational business negotiations

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5791 The Effects of Cultural Self-Efficacy and Perceived Social Support on Acculturative Stress of International Postgraduate Students in the United Kingdom

Authors: Rhea Mathews

Abstract:

The purpose of the study is to investigate the effects of perceived social support and cultural self-efficacy on the acculturative stress of international postgraduate students in the United Kingdom. The study adopted Berry, Kim, Minde & Mok’s (1987) acculturative framework on acculturative stress and examined the relationship between the variables. The study hypothesized that perceived social support and cultural self-efficacy would predict lower levels of acculturative stress among students. Postgraduate students in the United Kingdom (N = 76) completed three surveys measuring the variables; Acculturative Stress Scale for International Students, Multidimensional Scale of Perceived Social Support, and Cultural Self-efficacy for Adolescents. To evaluate the role of the perceived social support and cultural self-efficacy in determining the acculturative stress level of international students, multiple linear regression was employed. Both independent variables exhibited a significant, negative relationship with acculturative stress (p < 0.001; p < 0.01). Results described that cultural self-efficacy and perceived social support significantly predicted acculturative stress (p < 0.01). Together, the variables accounted for 22% of the variance in acculturative stress scores (adjusted R² = 0.22), with cultural self-efficacy playing a larger role in predicting the dependent variable. Limitations and implications of the study are noted. The findings of the study are discussed in relation to enhancing international students’ acculturative experience when relocating to a new environment.

Keywords: acculturative stress, coping, cultural adjustment, cultural self-efficacy, international education, international students, migration, perceived social support

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5790 Financial Market Turmoil and Performance of Islamic Equity Indices

Authors: Abul Shamsuddin

Abstract:

The Islamic stock market indices are constructed by screening out stocks that are incompatible with Islam’s prohibition of interest and certain lines of business. This study examines the effects of Islamic screening on the risk-return characteristics of Islamic vis-a-vis mainstream equity portfolios. We use data on Dow Jones Islamic market indices and FTSE Global Islamic indices over 1993-2013. We observe that Islamic equity indices outperform their mainstream counterparts in both raw and risk-adjusted returns. In addition, Islamic equity indices are more resilient to turbulence in international markets than that of their mainstream counterparts. The findings are robust across a variety of portfolio performance measures.

Keywords: Dow Jones Islamic market index, FTSE global Islamic index, ethical investment, finance

Procedia PDF Downloads 354
5789 Evaluation of Bearing Capacity of Vertically Loaded Strip Piled-Raft Embedded in Soft Clay

Authors: Seyed Abolhasan Naeini, Mohammad Hosseinzade

Abstract:

Settlement and bearing capacity of a piled raft are the two important issues for the foundations of the structures built on coastal areas from the geotechnical engineering point of view. Strip piled raft as a load carrying system could be used to reduce the possible extensive consolidation settlements and improve bearing capacity of structures in soft ground. The aim of this research was to evaluate the efficiency of strip piled raft embedded in soft clay. The efficiency of bearing capacity of strip piled raft foundation is evaluated numerically in two cases: in first case, the cap is placed directly on the ground surface and in the second, the cap is placed above the ground. Regarding to the fact that the geotechnical parameters of the soft clay are considered at low level, low bearing capacity is expected. The length, diameter and axe-to-axe distance of piles are the parameters which varied in this research to find out how they affect the bearing capacity. Results indicate that increasing the length and the diameter of the piles increase the bearing capacity. The complementary results will be presented in the final version of the paper.

Keywords: soft clay, strip piled raft, bearing capacity, settlement

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5788 International College Students Understand Entrepreneurial Readiness and Business-Related Skills: A Qualitative Study

Authors: Aleksandar Chonevski

Abstract:

The free-market economy provides many opportunities for entrepreneurship or starting one’s own business, attracting many students to study business at for-profit colleges in the United States. This is also true for international students, many of whom are filled with the hope of making a better life for themselves and their families through entrepreneurial endeavors. This qualitative research showed that not all graduates business students start their own business. In investigating this phenomenon, the effectiveness of entrepreneurship curricula at international colleges needs to be examined in order to adjust, improve and reform entrepreneurship curricula. This qualitative study will explore how business skills learned in college for-profit play a role in the entrepreneurial readiness of undergraduate business students in the south Florida. Business curricula helps international students achieve goals and transform their actions to understand challenges in a corporate society. Students will be interviewed to gain information about the students’ experience with entrepreneurship curricula in a for-profit college in south Florida.

Keywords: business skills, college curriculum, entrepreneurial readiness, international students

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5787 Predicting the Effect of Vibro Stone Column Installation on Performance of Reinforced Foundations

Authors: K. Al Ammari, B. G. Clarke

Abstract:

Soil improvement using vibro stone column techniques consists of two main parts: (1) the installed load bearing columns of well-compacted, coarse-grained material and (2) the improvements to the surrounding soil due to vibro compaction. Extensive research work has been carried out over the last 20 years to understand the improvement in the composite foundation performance due to the second part mentioned above. Nevertheless, few of these studies have tried to quantify some of the key design parameters, namely the changes in the stiffness and stress state of the treated soil, or have consider these parameters in the design and calculation process. Consequently, empirical and conservative design methods are still being used by ground improvement companies with a significant variety of results in engineering practice. Two-dimensional finite element study to develop an axisymmetric model of a single stone column reinforced foundation was performed using PLAXIS 2D AE to quantify the effect of the vibro installation of this column in soft saturated clay. Settlement and bearing performance were studied as an essential part of the design and calculation of the stone column foundation. Particular attention was paid to the large deformation in the soft clay around the installed column caused by the lateral expansion. So updated mesh advanced option was taken in the analysis. In this analysis, different degrees of stone column lateral expansions were simulated and numerically analyzed, and then the changes in the stress state, stiffness, settlement performance and bearing capacity were quantified. It was found that application of radial expansion will produce a horizontal stress in the soft clay mass that gradually decrease as the distance from the stone column axis increases. The excess pore pressure due to the undrained conditions starts to dissipate immediately after finishing the column installation, allowing the horizontal stress to relax. Changes in the coefficient of the lateral earth pressure K ٭, which is very important in representing the stress state, and the new stiffness distribution in the reinforced clay mass, were estimated. More encouraging results showed that increasing the expansion during column installation has a noticeable effect on improving the bearing capacity and reducing the settlement of reinforced ground, So, a design method should include this significant effect of the applied lateral displacement during the stone column instillation in simulation and numerical analysis design.

Keywords: bearing capacity, design, installation, numerical analysis, settlement, stone column

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5786 Y-Y’ Calculus in Physical Sciences and Engineering with Particular Reference to Fundamentals of Soil Consolidation

Authors: Sudhir Kumar Tewatia, Kanishck Tewatia, Anttriksh Tewatia

Abstract:

Advancements in soil consolidation are discussed, and further improvements are proposed with particular reference to Tewatia’s Y-Y’ Approach, which is called the Settlement versus Rate of Settlement Approach in consolidation. A branch of calculus named Y-Y' (or y versus dy/dx) is suggested (as compared to the common X-Y', x versus dy/dx, dy/dx versus x or Newton-Leibniz branch) that solves some complicated/unsolved theoretical and practical problems in physical sciences (Physics, Chemistry, Mathematics, Biology, and allied sciences) and engineering in an amazingly simple and short manner, particularly when independent variable X is unknown and X-Y' Approach can’t be used. Complicated theoretical and practical problems in 1D, 2D, 3D Primary and Secondary consolidations with non-uniform gradual loading and irregularly shaped clays are solved with elementary school level Y-Y' Approach, and it is interesting to note that in X-Y' Approach, equations become more difficult while we move from one to three dimensions, but in Y-Y' Approach even 2D/3D equations are very simple to derive, solve, and use; rather easier sometimes. This branch of calculus will have a far-reaching impact on understanding and solving the problems in different fields of physical sciences and engineering that were hitherto unsolved or difficult to be solved by normal calculus/numerical/computer methods. Some particular cases from soil consolidation that basically creeps and diffusion equations in isolation and in combination with each other are taken for comparison with heat transfer. The Y-Y’ Approach can similarly be applied in wave equations and other fields wherever normal calculus works or fails. Soil mechanics uses mathematical analogies from other fields of physical sciences and engineering to solve theoretical and practical problems; for example, consolidation theory is a replica of the heat equation from thermodynamics with the addition of the effective stress principle. An attempt is made to give them mathematical analogies.

Keywords: calculus, clay, consolidation, creep, diffusion, heat, settlement

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5785 Foreign Real Estate Investment and the Australian Residential Property Market: A Study on Chinese Investors

Authors: Peng Yew Wong

Abstract:

House prices in the Australian capital cities were at record levels subsequent to Global Financial Crisis (GFC) 2008 and many believed that foreign investors, especially the Chinese investors, were the main reason for the Australian capital cities’ house prices escalation. This research conducted an Australian cross border semi-structured interviews in Shanghai, China to uncover historical evidence and emerging trend supporting the existence of a significant relationship between overseas investors and residential housing markets performance in Australia subsequent to the GFC 2008. Some unique investment strategies of private investors from China which emphasised on non-capitalist factors such as early education were identified, alongside with some insights on the significant China government policies that have incentivised the cross border investments from China. It is believed that this understanding will assist policy makers to effectively manage the overheated Australian residential property market without compromising the steady flow of FREI.

Keywords: Australian housing market, residential property, foreign real estate investment, education, China investor

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5784 Effective Infection Control Measures to Prevent Transmission of Multi-Drug Resistant Organisms from Burn Transfer Cases in a Regional Burn Centre

Authors: Si Jack Chong, Chew Theng Yap, Wan Loong James Mok

Abstract:

Introduction: Regional burn centres face the spectra of introduced multi-drug resistant organisms (MDRO) from transfer patients resident in MDRO endemic countries. MDRO can cause severe nosocomial infection, which in massive burn patients, will lead to greater morbidity and mortality and strain the institution financially. We aim to highlight 4 key measures that have effectively prevented transmission of imported MDRO. Methods: A case of Candida auris (C. auris) from a massive burn patient transferred from an MDRO endemic country is used to illustrate the measures. C. auris is a globally emerging multi-drug resistant fungal pathogen causing nosocomial transmission. Results: Infection control measures used to mitigate the risk of outbreak from transfer cases are: (1) Multidisciplinary team approach involving Infection Control and Infectious Disease specialists early to ensure appropriate antibiotics use and implementation of barrier measures, (2) aseptic procedures for dressing change with strict isolation and donning of personal protective equipment in the ward, (3) early screening of massive burn patient from MDRO endemic region, (4) hydrogen peroxide vaporization terminal cleaning for operating theatres and rooms. Conclusion: The prevalence of air travel and international transfer to regional burn centres will need effective infection control measures to reduce the risk of transmission from imported massive burn patients. In our centre, we have effectively implemented 4 measures which have reduced the risks of local contamination. We share a recent case report to illustrate successful management of a potential MDRO outbreak resulting from transfer of massive burn patient resident in an MDRO endemic area.

Keywords: burns, burn unit, cross infection, infection control

Procedia PDF Downloads 150
5783 An International Comparison of Global Financial Centers: Major Competitive Strategies

Authors: I. Hakki Eraslan, Birol Ozturk, Istemi Comlekci

Abstract:

This paper begins by defining what is meant by “globalization” in finance and by identifying the sources of value-added in the internationally-competitive financial services sector origination, trading and distribution of debt and equity capital market instruments and their derivatives, foreign exchange trading and securities brokerage, management of market risk and credit risk, loan syndication and structured bank financings, corporate finance and advisory services, and asset management. These activities are considered in terms of a “value-chain” one that ultimately gives rise to the real economic gains attributable to financial-center operations. The research presents available evidence as to where the relevant value-added activities usually take place. It then examines the “centrifugal” and “centripetal” forces that determine the concentration or dispersal of value-added activity in financial intermediation, both interregionally and internationally. Next, the research assesses the factors, which appear to underlie the locational pattern of international financial centers that has evolved. In preparing this paper, also it is examined the current position and the main opportunities and challenges facing world major financial services sector, and attempted to lay out a potential vision and strategies. It is conducted extensive research, including many internal research materials and publications. It is also engaged closely with the academia, industry practitioners and regulators, and consulted market experts from major world financial centers. More than 60 in‐depth consultative sessions were conducted in the past two years which provided insightful suggestions and innovative ideas on how to further financial industry’s position as an international financial centre. The paper concludes with the outlook for the future pattern of financial centers in the global competitive environment. The ideas and advice gathered are condensed into this paper that recommends to the strategic decision leaders a vision and a strategy for financial services sector to move forward amid a highly competitive environment.

Keywords: financial centers, competitiveness, financial services industry, economics

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5782 Ethno-Botanical Survey on the Rare and Endangered Medicinal Plants of Poonch District (Jammu and Kashmir)

Authors: Shazia Shamim, Pallavi Gautam

Abstract:

The present study describes the presence of rare or endangered plants from Poonch Dist., which spread over 1674 Km sq. located between latitude 330 25' N to 340 01' N and longitude 730 58' E to 740 35' E forming a part of the Northwest Himalaya in Jammu and Kashmir state of India, with the aim of suggesting the strategy for the conservation and promotion of cultivation of rare and endangered medicinal plants, as well as developing traditional knowledge of medicinal plants. The main threats to biodiversity and ecosystem are overexploitation, global climate change, habitat loss, fragmentation, pollution, and invasion of alien species and disturbance of community structure. Surveys were carried out during 2015-2016 throughout the Poonch valley. During the field survey, various criteria of International Union for the conservation of nature for categorizing threatened plants, extent of occurrence, area of occupancy, probability of extinction, etc. were measured. The rarity of species was determined by field study, visual estimations, and literature. During the collection, it was observed that few rare and endangered species which were present in the study area, are also mentioned in the prescribed red data book of Indian plants, International Union for conservation of nature, list of threatened species and list of Botanical Survey of India presented by its Northern Regional Centre. The study was based on extensive surveys of the study area and then concluded by preparing a list of plant species occurring in different seasons, the photographs of all these plant species were collected. Actual threats to the population of a selected plant species in a given area were recorded by direct observation. The present paper provides information about 22 rare and endangered medicinal plant species belonging to 18 families that are used by the native of these areas. Information provided includes botanical name, family name, local name, habitat, part used, ethno medicinal uses and brief preparation of the reported plant species is presented in the present work.

Keywords: biodiversity, traditional knowledge, International Union for Conservation of Nature, Botanical Survery of India

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5781 Health Post A Sustainable Prototype for the Third World

Authors: Chizzoniti Domenico, Beggiora Klizia, Cattani Letizia, Moscatelli Monica

Abstract:

This paper concerns the study of sustainable construction materials applied on the "Health Post", a prototype for the primary health care situated in alienated areas of the world. It's suitable for social and climatic Sub-Saharan context; however, it could be moved in other countries of the world with similar urgent needs. The idea is to create a Health Post with local construction materials that have a low environmental impact and promote the local workforce allowing reuse of traditional building techniques lowering production costs and transport. The aim of Primary Health Care Centre is to be a flexible and expandable structure identifying a modular form that can be repeated several times to expand its existing functions. In this way it could be not only a health care centre but also a socio-cultural facility.

Keywords: low costs building, sustainable construction materials, green construction system, prototype, health care, emergency

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5780 Measures Adopted by FIFA and UEFA against Russian Athletes: A Human Rights Perspective

Authors: Ayyoub Jamali, Alena Kozlova

Abstract:

The Russian invasion of Ukraine has tested the mettle of the international community, prompting not only States but also non-state actors to take deterrent action in response. Indeed, international sports organisations, namely FIFA and UEFA, have been rather successful in shifting the power dynamics by introducing a complete ban on the Russian national and club teams. This article aims to inquire into the human rights implications of such actions taken by international sports organisations. First, the article departs from an assessment of the legal status of FIFA and UEFA under international law and reflects on how a legal link could be established vis-à-vis their human rights obligations. Second, it examines the human rights aspects of the impugned measures by FIFA and UEFA on the part of the Russian athletes, further scrutinising them against the international human rights law principle of non-discrimination through a proportionality test. Last, it draws basic pathways for how possible human rights violations committed in the context of measures adopted by such organisations could be remedied, outlining the challenges of arbitration and litigation in Switzerland.

Keywords: FIFA, UEFA, FUR, ban, human rights, Russia, Ukraine, non-state actors

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5779 The Development of Open Access in Latin America and Caribbean: Mapping National and International Policies and Scientific Publications of the Region

Authors: Simone Belli, Sergio Minniti, Valeria Santoro

Abstract:

ICTs and technology transfer can benefit and move a country forward in economic and social development. However, ICT and access to the Internet have been inequitably distributed in most developing countries. In terms of science production and dissemination, this divide articulates itself also through the inequitable distribution of access to scientific knowledge and networks, which results in the exclusion of developing countries from the center of science. Developing countries are on the fringe of Science and Technology (S&T) production due not only to low investment in research but also to the difficulties to access international scholarly literature. In this respect, Open access (OA) initiatives and knowledge infrastructure represent key elements for both producing significant changes in scholarly communication and reducing the problems of developing countries. The spreading of the OA movement in the region, exemplified by the growth of regional and national initiatives, such as the creation of OA institutional repositories (e.g. SciELO and Redalyc) and the establishing of supportive governmental policies, provides evidence of the significant role that OA is playing in reducing the scientific gap between Latin American countries and improving their participation in the so-called ‘global knowledge commons’. In this paper, we map OA publications in Latin America and observe how Latin American countries are moving forward and becoming a leading force in widening access to knowledge. Our analysis, developed as part of the H2020 EULAC Focus research project, is based on mixed methods and consists mainly of a bibliometric analysis of OA publications indexed in the most important scientific databases (Web of Science and Scopus) and OA regional repositories, as well as the qualitative analysis of documents related to the main OA initiatives in Latin America. Through our analysis, we aim at reflecting critically on what policies, international standards, and best practices might be adapted to incorporate OA worldwide and improve the infrastructure of the global knowledge commons.

Keywords: open access, LAC countries, scientific publications, bibliometric analysis

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5778 Analysis of Effect of Microfinance on the Profit Level of Small and Medium Scale Enterprises in Lagos State, Nigeria

Authors: Saheed Olakunle Sanusi, Israel Ajibade Adedeji

Abstract:

The study analysed the effect of microfinance on the profit level of small and medium scale enterprises in Lagos. The data for the study were obtained by simple random sampling, and total of one hundred and fifty (150) small and medium scale enterprises (SMEs) were sampled for the study. Seventy-five (75) each are microfinance users and non-users. Data were analysed using descriptive statistics, logit model, t-test and ordinary least square (OLS) regression. The mean profit of the enterprises using microfinance is ₦16.8m, while for the non-users of microfinance is ₦5.9m. The mean profit of microfinance users is statistically different from the non-users. The result of the logit model specified for the determinant of access to microfinance showed that three of specified variables- educational status of the enterprise head, credit utilisation and volume of business investment are significant at P < 0.01. Enterprises with many years of experience, highly educated enterprise heads and high volume of business investment have more potential access to microfinance. The OLS regression model indicated that three parameters namely number of school years, the volume of business investment and (dummy) participation in microfinance were found to be significant at P < 0.05. These variables are therefore significant determinants of impacts of microfinance on profit level in the study area. The study, therefore, concludes and recommends that to improve the status of small and medium scale enterprises for an increase in profit, the full benefit of access to microfinance can be enhanced through investment in social infrastructure and human capital development. Also, concerted efforts should be made to encouraged non-users of microfinance among SMEs to use it in order to boost their profit.

Keywords: credit utilisation, logit model, microfinance, small and medium enterprises

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5777 An Investigation of Tourists’ Destination Loyalty: A Case Study of Bangkok, Thailand

Authors: Sukritta Larsen, Kevin Wongleedee

Abstract:

The purposes of this research were to study tourists’ destination loyalty from the perspective of international tourists in Bangkok and to study the level of interest to revisit Bangkok in the near future. A probability random sampling of 200 international tourists was utilized. Half of the sample group was male and the other half was female. A Likert-five-scale questionnaire was designed to collect the data and small in-depth interviews were also used to obtain their opinions. The findings revealed that the majority of respondents had a medium level of loyalty. When examined in detail, the destination loyalty indicators can be ranked according to the mean average from high to low as follows: to recommend the visit, to say positive things, to revisit in the next three years, to refer the information, and to plan to visit regularly. Finally, the findings from the in-depth interviews with small group of international tourists revealed that the major obstacles that prevented many international tourists who may interested in revisiting Thailand included traffic congestions, high crime rate, and political instability.

Keywords: destination loyalty, international tourists, revisit, Bangkok

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5776 Adverse Drug Reactions Monitoring in the Northern Region of Zambia

Authors: Ponshano Kaselekela, Simooya O. Oscar, Lunshano Boyd

Abstract:

The Copperbelt University Health Services (CBUHS) was designated by the Zambia Medicines Regulatory Authority (ZAMRA), formally the Pharmaceutical Regulatory Authority (PRA) as a regional pharmacovigilance centre to carryout activities of drug safety monitoring in four provinces in Zambia. CBUHS’s mandate included stimulating the reporting of adverse drug reactions (ADRs), as well as collecting and collating ADR reports from health institutions in the four provinces. This report covers the researchers’ experiences from May 2008 to September, 2016. The main objectives are 1) to monitor ADRs in the Zambian population, 2) to disseminate information to all health professionals in the region advising that the CBU health was a centre for reporting ADRs in the region, 3) to monitor polypharmacy as well as the benefit-risk profile of medicines, 4) to generate independent, evidence based recommendations on the safety of medicines, 5) to support ZAMRA in formulating safety related regulatory decisions for medicines, and 6) to communicate findings with all key stakeholders. The methodology involved monthly visits, beginning in early May 2008 to September, 2016, by the CBUHS to health institutions in the programme areas. Activities included holding discussions with health workers, distribution of ADR forms and collection of ADRs reports. These reports, once collected, were documented and assessed at the CBUHS. A report was then prepared for ZAMRA on quarterly basis. At ZAMRA, serious ADRs were noted and recommendations made to the Ministry of Health of the Republic of Zambia. The results show that 2,600 ADRs reports were received at the pharmacovigilance regional centre. Most of the ADRs reports that received were due to antiretroviral drugs, as well as a few from anti-malarial drugs like Artemether/Lumefantrine – Coartem®. Three hundred and twelve ADRs were entered in the Uppsala Monitoring Centre WHO Vigiflow for further analysis. It was concluded that in general, 2008-16 were exciting years for the pharmacovigilance group at CBUHS. From a very tentative beginning, a lot of strides were made and contacts established with healthcare facilities in the region. The researchers were encouraged by the support received from the Copperbelt University management, the motivation provided by ZAMRA and most importantly the enthusiasm of health workers in all the health care facilities visited. As a centre for drug safety in Zambia, the results show it achieves its objectives for monitoring ADRs, Pharmacovigilance (drug safety monitoring), and activities of monitoring ADRs as well as preventing them. However, the centre faces critical challenges caused by erratic funding that prevents the smooth running of the programme.

Keywords: adverse drug reactions, drug safety, monitoring, pharmacovigilance

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5775 Ethical Investment Instruments for Financial Sustainability

Authors: Sarkar Humayun Kabir

Abstract:

This paper aims to investigate whether ethical investment instruments could contribute to stability in financial markets. In order to address the main issue, the study investigates the stability of return in seven conventional and Islamic equity markets of Asia, Europe and North America and in five major commodity markets starting from 1996 to June 2012. In addition, the study examines the unconditional correlation between returns of the assets under review to investigate portfolio diversification benefits of investors. Applying relevant methods, the study finds that investors may enjoy sustainable returns from their portfolios by investing in ethical financial instruments such as Islamic equities. In addition, it should be noted that most of the commodities, gold in particular, are either low or negatively correlated with equity returns. These results suggest that investors would be better off by investing in portfolios combining Islamic equities and commodities in general. The sustainable returns of ethical investments has important implications for the investors and markets since these investments can provide stable returns while the investors can avoid production of goods and services which believes to be harmful for human and the society as a whole.

Keywords: financial sustainability, ethical investment instruments, islamic equity, dynamic conditional correlation, conditional volatility

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5774 Urban Seismic Risk Reduction in Algeria: Adaptation and Application of the RADIUS Methodology

Authors: Mehdi Boukri, Mohammed Naboussi Farsi, Mounir Naili, Omar Amellal, Mohamed Belazougui, Ahmed Mebarki, Nabila Guessoum, Brahim Mezazigh, Mounir Ait-Belkacem, Nacim Yousfi, Mohamed Bouaoud, Ikram Boukal, Aboubakr Fettar, Asma Souki

Abstract:

The seismic risk to which the urban centres are more and more exposed became a world concern. A co-operation on an international scale is necessary for an exchange of information and experiments for the prevention and the installation of action plans in the countries prone to this phenomenon. For that, the 1990s was designated as 'International Decade for Natural Disaster Reduction (IDNDR)' by the United Nations, whose interest was to promote the capacity to resist the various natural, industrial and environmental disasters. Within this framework, it was launched in 1996, the RADIUS project (Risk Assessment Tools for Diagnosis of Urban Areas Against Seismic Disaster), whose the main objective is to mitigate seismic risk in developing countries, through the development of a simple and fast methodological and operational approach, allowing to evaluate the vulnerability as well as the socio-economic losses, by probable earthquake scenarios in the exposed urban areas. In this paper, we will present the adaptation and application of this methodology to the Algerian context for the seismic risk evaluation in urban areas potentially exposed to earthquakes. This application consists to perform an earthquake scenario in the urban centre of Constantine city, located at the North-East of Algeria, which will allow the building seismic damage estimation of this city. For that, an inventory of 30706 building units was carried out by the National Earthquake Engineering Research Centre (CGS). These buildings were digitized in a data base which comprises their technical information by using a Geographical Information system (GIS), and then they were classified according to the RADIUS methodology. The study area was subdivided into 228 meshes of 500m on side and Ten (10) sectors of which each one contains a group of meshes. The results of this earthquake scenario highlights that the ratio of likely damage is about 23%. This severe damage results from the high concentration of old buildings and unfavourable soil conditions. This simulation of the probable seismic damage of the building and the GIS damage maps generated provide a predictive evaluation of the damage which can occur by a potential earthquake near to Constantine city. These theoretical forecasts are important for decision makers in order to take the adequate preventive measures and to develop suitable strategies, prevention and emergency management plans to reduce these losses. They can also help to take the adequate emergency measures in the most impacted areas in the early hours and days after an earthquake occurrence.

Keywords: seismic risk, mitigation, RADIUS, urban areas, Algeria, earthquake scenario, Constantine

Procedia PDF Downloads 262