Search results for: historic investment

Authors: Debarshi Bhattacharya

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In 2015, historic Land Boundary Agreement (LBA) executed between India and Bangladesh finally settled almost seven decades long overdue critical enclave problems of the two neighbouring countries. Enclaves within India and Bangladesh were the awful outcome of the partition of India in 1947. As a dire consequence, the populace within these enclaves enormously suffered from getting basic rights and opportunities and governmental support services till long 67 years after India’s independence and partition. As per LBA, 2015, 51 Bangladeshi (BD) enclaves inside Indian territory and 111 Indian enclaves inside Bangladesh territory were actually transferred to each other. But, by virtue of LBA, 1974 executed earlier between the two countries, one BD enclave situated inside India, namely Dohogram-Angarpota (D-A) twin enclave, had not yet been exchanged by means of LBA, 2015 and it still remains as an integral part, may not be contiguous, of Bangladesh completely surrounded by Indian territory. A study was undertaken through an extensive field survey to assess the impact of the existence of D-A BD enclave inside Indian territory from India’s perspective. Field survey was conducted for the purpose in the form of an interview, group discussion, questionnaire survey, personal interaction etc. to gather information from the Indian people residing adjacent to D-A enclave and Tin Bigha Corridor (TBC), people of D-A enclave, officials of Border Security Forces of India and Bangladesh, public representatives, representatives of political organizations etc. The issue of the existence of D-A BD enclave inside Indian territory seriously brought apprehension of future problems to the people of Kuchlibari Region of Mekhligunj Block, India, on its contiguity with Indian mainland due to 24-hour open access for the BD people through TBC. The anxiety of the local Indian people regarding threats to the national security of India as well as to the law and order issues of the locality due to the open border of D-A BD enclave in the region. On the other hand, it was observed that 24 hours opening of TBC brought significant positive changes to the people of D-A BD enclave in terms of their socio-economic condition and security status.

Keywords: enclave, exchange of enclaves, land boundary agreement, Dohogram-Angarpota (D-A) Bangladeshi (BD) enclave, Tin Bigha Corridor

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Authors: Simeon Karafolas, Maciej Woźniak

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Mostly of public financing programs at national and regional level are funded from European Union sources. EU can participate directly to a national and regional program (example LEADER initiative, URBAN…) or indirectly by funding regional or national funds. Funds from European Union are provided from EU multiannual financial framework form which the annual budget is programmed. The adjusted program 2007-2013 of the EU considered commitments of almost 1 trillion Euros for the EU-28 countries. Provisions of the new program 2014-2020 consider commitments of more than 1 trillion Euros. Sustainable growth, divided to Cohesion and Competitiveness for Growth an Employment, is one of the two principal categories; the other is the preservation and management of natural resources. Through this financing process SMEs benefited of EU and public sources by receiving grants for their investments. Most of the financial instruments are available indirectly through the national financial intermediaries. Part of them is managed by the European Investment Fund. The paper focuses on the public financing to SMEs by examining case studies on divers forms of public help. It tries to distinguish the efficiency of the examined good practices and therefore try to have some conclusions on the possibility of application to other regions.

Keywords: DIFASS, grants, SMEs, public financing

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Authors: Raed El-Khalil, Hussein Zeaiter

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Managing and improving efficiency in the current highly competitive global automotive industry demands that companies adopt leaner and more flexible systems. During the past 20 years the domestic automotive industry in North America has been focusing on establishing new management strategies in order to meet market demands. 98The lean management process also known as Toyota Manufacturing Process (TPS) or lean manufacturing encompasses tools and techniques that were established in order to provide the best quality product with the fastest lead time at the lowest cost. The following paper presents a study that focused on improving labor efficiency at one of the Big Three (Ford, GM, Chrysler LLC) domestic automotive facility in North America. The objective of the study was to utilize several lean management tools in order to optimize the efficiency and utilization levels at the “Pre-Marriage” chassis area in a truck manufacturing and assembly facility. Utilizing three different lean tools (i.e. Standardization of work, 7 Wastes, and 5S) this research was able to improve efficiency by 51%, utilization by 246%, and reduce operations by 14%. The return on investment calculated based on the improvements made was 284%.

Keywords: lean manufacturing, standardized work, operation efficiency, utilization

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Authors: Ezgi Avci-Surucu, Doganbey Akgul

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Turkey’s energy reforms has achieved energy security through a variety of interlinked measures including electricity, gas, renewable energy and energy efficiency legislation; the establishment of an energy sector regulatory authority; energy price reform; the creation of a functional electricity market; restructuring of state-owned energy enterprises; and private sector participation through privatization and new investment. However, current strategies, namely; “Electricity Sector Reform and Privatization Strategy” and “Electricity Market and Supply Security Strategy” has been criticized for various aspects. The present paper analyzes the implementation of the aforementioned strategies in the framework of generation scheduling, transmission constraints, bidding structure and general aspects; and argues the deficiencies of current strategies which decelerates power investments and creates uncertainties. We conclude by policy suggestions to eliminate these deficiencies in terms of price and risk management, infrastructure, customer focused regulations and systematic market development.

Keywords: electricity markets, risk management, regulations, balancing and settlement, bilateral trading, generation scheduling, bidding structure

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Authors: Astha Sinha, Anjali Kanagali

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The United Kingdom’s withdrawal from the European Union, also termed as “Brexit,” took place on June 23, 2016 and immediately had global repercussions on the stock markets of the world. It is however expected to have a greater impact on the Banking sector in the UK. There is a two-fold effect on the earnings of banks which is being expected. First is of the trading activity and investment banking businesses being hit due to global weakness in financial markets. Second is that the banks having a large presence in the European Union will have to restructure their operations in order to cover other European countries as well increase their operating costs. As per the analysis, banks are expected to face rate cuts, bad loans, and tight liquidity. The directives in the Brexit negotiations on the Markets in Financial Instruments Directive (MiFID) will be a major decision to be taken for the Banking sector. New regulations will be required since most of the regulations governing the financial services industry allowing for the cross-border transactions were at the EU level. This paper aims to analyze the effect of Brexit on the UK Banking sector and changes in regulations that are expected due to the same. It shall also lay down the lessons learnt from the 2008 financial crisis and draw a parallel in terms of potential areas to be focused on for revival of the financial sector of Britain.

Keywords: Brexit, Brexit impact on UK, impact of Brexit on banking, impact of Brexit on financial services

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Authors: Bisi S. Olawoyin

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This study attempts an exploration into behavioural finance in which the traditional assumptions of expected utility maximization with rational investors in efficient markets are dropped. It reviews prior research and evidence about how psychological biases affect investors behaviour and stock selection. This study examined the relationship between demographic variables and financial behaviour biases among public sector retirees who invested in the Nigerian Stock Exchange prior to their retirement. By using questionnaire survey method, a total of 214 valid convenient samples were collected in order to determine how specific demographic and psychological trait affect stock selection between dividend paying and non-dividend paying stocks. Descriptive statistics and OLS were used to analyse the results. Findings showed that most of the retirees prefer dividend paying stocks in few years preceding their retirement but still hold on to their non-dividend paying stock on retirement. A significant difference also exists between senior and junior retirees in preference for non-dividend paying stocks. These findings are consistent with the clientele theories of dividend.

Keywords: behavioural finance, clientele theories, dividend paying stocks, stock selection

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Authors: Emin Avcı, Çiydem Çatak

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The recent economic crisis have shown that procyclicality, which could threaten the stability and growth of the economy, is a major problem of financial and real sector. The term procyclicality refers here the cyclical behavior of banks that lead them to follow the same patterns as the real economy. In this study, leverage which demonstrate how a bank manage its debt, is chosen as bank specific variable to see the effect of changes in it over the economic cycle. The procyclical behavior of Turkish banking sector (commercial, participation, development-investment banks) is tried to explain with analyzing the relationship between leverage and asset growth. On the basis of theoretical explanations, eight different leverage ratios are utilized in eight different panel data models to demonstrate the procyclicality effect of Turkish banks leverage using monthly data covering the 2005-2014 period. It is tested whether there is an increasing (decreasing) trend in the leverage ratio of Turkish banks when there is an enlargement (contraction) in their balance sheet. The major finding of the study indicates that asset growth has a significant effect on all eight leverage ratios. In other words, the leverage of Turkish banks follow a cyclical pattern, which is in line with those of earlier literature.

Keywords: banking, economic cycles, leverage, procyclicality

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Authors: Miroslav Čulík, Petr Gurný

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This paper is aimed at the financial assessment of the hard coal mining in a given region by real option methodology application. Hard coal mining in this mine makes net loss for the owner during the last years due to the long-term unfavourable mining conditions and significant drop in the coal prices during the last years. Management is going to shut down the operation and abandon the project to reduce the loss of the company. The goal is to assess whether the shutting down the operation is the only and correct solution of the problem. Due to the uncertainty in the future hard coal price evolution, the production might be again restarted if the price raises enough to cover the cost of the production. For the assessment, real option methodology is applied, which captures two important aspect of the financial decision-making: risk and flexibility. The paper is structured as follows: first, current state is described and problem is analysed. Next, methodology of real options is described. At last, project is evaluated by applying real option methodology. The results are commented and recommendations are provided.

Keywords: real option, investment, option to abandon, option to shut down and restart, risk, flexibility

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Authors: Zakariya B. H., Idris M. I., Jungudo M. A.

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High energy consumptions of urban settlements in Nigeria are escalating due to strong population growth and migration as a result of crises. The demand for lighting, heating, ventilation and air conditioning (LHVAC) is becoming higher. Conversely, there is a poor electricity supply to both rural and urban settlement in Nigeria. Generators were mostly used in Nigeria as a source of energy for LHVAC. Energy efficiency can be defined as any measure taken to reduce the amount of energy consumed for heating ventilation and air-conditioning (HVAC), and house hold appliances like computers, stoves, refrigerators, televisions etc. The aim of the study was to minimize energy consumption in building through the integration of energy efficiency and renewable energy in building sector. Some of the energy efficient buildings within the study area were identified, the study covers there major cities of Nigeria namely, Abuja, Kaduna and Lagos city. The cost of investment on the energy efficiency and renewable energy was determined and compared with other fossil energy source for conventional building. Findings revealed that the low energy and energy efficient buildings in Nigeria are cheaper than the conventional ones. Based on the finding of the research, construction stake holders are strongly encouraged to abandon the conventional buildings and consider energy efficiency and renewable energy in buildings.

Keywords: energy, efficiency, LHVAC, sustainable development

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Authors: Arnaud Deshais

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The supply chain industry has integrated the need for supplier Diversity and Inclusion (D&I), mostly from an ethical and moral argument. In addition, in some countries, it is also a legal requirement for companies reaching a certain size. As a matter of fact, a lot of successful companies have developed a Corporate Social Responsibility Program that encourages diversity and inclusion in the supply chain, such as building strong relationships with minority owned businesses (women, LGBT, veterans, etc.). Outside ethical and legal perspectives, it is also worth researching the economic and financial benefits of pursuing such efforts. Through surveys of purchasing and supply chain managers in their current roles as well as review of some case studies on supplier based D&I programs, it becomes apparent that a financial return on investment is to be expected as well for companies who make a concerted effort to grow their D&I programs. The study explores the levers to increase shareholder value and business efficiencies. Finally, the research highlights the competitive advantage related to a broad minority based supplier network. The benefits manifest themselves in the areas of competitiveness, innovation, and collaboration. The economic reward ends up being at the forefront of those programs while being an opportunity for organizations to become 'a good citizen'.

Keywords: diversity, inclusion, purchasing, supplier

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Authors: Vichada Chokesikarin

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The study aims to determine which factors account for customer satisfaction and to investigate the relationship between entrepreneurial orientation and business success, in particular, context of the information understanding of hostel business in Pranakorn district, Bangkok and the significant element of entrepreneurship in tourism industry. This study covers 352 hostels customers and 61 hostel owners/managers nearby Khao San Road. Data collection methods were used by survey questionnaire and a series of hypotheses were developed from services marketing literature. The findings suggest the customer satisfaction most influenced by image, service quality, room quality and price accordingly. Furthermore the findings revealed that significant relationships exist between entrepreneurial orientation and business success; while competitive aggressiveness was found unrelated. The ECSI model’s generic measuring customer satisfaction was found partially mediate the business success. A reconsideration of other variables applicable should be supported with the model of hostel business. The study provides context and overall view of hostel business while discussing from the entrepreneurial orientation to customer satisfaction, thereby reducing decision risk on hostel investment.

Keywords: customer satisfaction, ECSI model, entrepreneurial orientation, small hotel, hostel, business performance

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Authors: Xiaoya Yi, Yi He, Zhao Lu, Yang Zhang

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In the process of rapid urbanization, many historical cities have undergone excessive demolition and construction under the protection and renewal mechanism. The original pattern of the city has been changed, the urban context has been cut off, and historical features have gradually been lost. The historical city gradually changed into the form of decentralization and fragmentation. The understanding of the ancient city includes two levels. The first one refers to the ancient city on the physical space, which defined an ancient city by its historic walls. The second refers to the public perception of the image, which is derived from people's spatial identification of the ancient city. In ancient China, people draw maps to show their way of understanding the city. Starting from ancient maps and exploring the spatial characteristics of traditional Chinese cities from the perspective of urban imagery is a key clue to understanding the spatial characteristics of historical cities on an overall level. The spatial characteristics of the urban image presented by the ancient map are summarized into two levels by typology. The first is the spatial pattern composed of the center, axis and boundary. The second is the space element that contains the city, street, and sign system. Taking the ancient city of Shipu as a typical case, the "city image" in the ancient map is analyzed as a prototype, and it is projected into the current urban space. The research found that after a long period of evolution, the historical spatial pattern of the ancient city has changed from “dominant” to “recessive control”, and the historical spatial elements are non-centralized and fragmented. The wall that serves as the boundary of the ancient city is transformed into “fragmentary remains”, the streets and lanes that serve as the axis of the ancient city are transformed into “structural remains”, and the symbols of the ancient city center are transformed into “site remains”. Based on this, the paper proposed the methods of controlling the protection of land boundaries, the protecting of the streets and lanes, and the selective restoring of the city wall system and the sign system by accurate assessment. In addition, this paper emphasizes the continuity of the ancient city's traditional spatial pattern and attempts to explore a holistic conservation method of the ancient city in the modern context.

Keywords: ancient city protection, ancient maps, Shipu ancient city, urban intention

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Authors: Haymanot Gebre-Amlak, Selamawit Gebre-Amlak

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Since its original declaration in the 18th century, Karl Marx and Friedrich Engels's Communist Manifesto has become one of the most influential political tracts. Socialism is a political path that leads towards communism by fostering a cooperative economy through the creation of cooperative enterprises, common ownership, state ownership, or shared equity. The ultimate objective of communism is to bring everyone working toward the same collective goal of a healthy, happy, and free society. The European establishment of 19-century colonial rule over the continent of Africa reinforced inflows of European investment and forced a profound change in the operation of labor and land markets. The colonial era and forced labor schemes in Africa lasted for several decades. When exiting from colonialism, these African countries were attracted to socialism’s ideology to bridge the social gap and freedom to their society. In this paper, we compare a pre and post socialist ideology and the impact in various African countries. We analyse the different aspects, which led to inconsistent outcomes. Our finding indicates that while they have some facets in common, each African country had a unique interpretation and influence from the socialist ideology.

Keywords: African politics, socialism in Africa, African history, Africa

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Authors: Lala Rukh, Muhammad Abbas Choudhary, Saddam Akber Abbasi

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In Pakistan, the privatization of major sector of the national economy i.e. power, telecom, and gas is very strongly advocated since 80s. With varying degree of progress made in these sectors, it has been the government’s approach that the privatization accelerates the sectorial growth, increases operational efficiency and attracts the foreign investment and is of special significance for developing economies. The gas sector was not an exception and the privatization in this sector has moved through various stages during this time within the realms of socio-political agenda. This paper presents the overview of the gas sector in the country. The Oil and Gas Regulatory Authority (OGRA) Ordinance and privatization commission policy position as depicted in the press briefings provides philosophical foundations to the privatization and sectorial restructuring in this paper. The role of the major players from privatization perspective is discussed with special reference to the importance of natural gas sector. The case study further discusses the economic regulations that are being adopted by utility regulators in Pakistan and elsewhere in the world and some issues that the Regulatory Authority will be concerned are outlined. Major operators in the gas sector including Oil & Gas Development Corporation (OGDC), Sui Northern Gas Pipelines Limited (SNGPL), Sui Southern Gas Pipelines Limited (SSGPL) is also presented.

Keywords: privatization, economic regulation, OGDCL, SSGCL, SNGPL

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Authors: Yasmine Essafi Zouari, Aya Nasreddine

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Following a long inflationary period from the post-war era to the mid-1980s (+10.1% annually), France went through a moderate inflation period between 1986 and 2001 (+2.1% annually) and even lower inflation between 2002 and 2016 (+1.4% annually). In 2022, inflation in France increased rapidly and reached 4.5% over one year in March, according to INSEE estimates. Over a long period, even low inflation has an impact on portfolio value and households’ purchasing power. In such a context, inflation hedging should remain an important issue for investors. In particular, long-term investors, who are concerned with the protection of their wealth, seek to hold effective hedging assets. Considering a mixed-asset portfolio composed of housing assets (residential real estate in 150 Grand Paris communes) as well as financial assets, and using both correlation and regression analysis, results confirm the attribute of the direct housing investment as an inflation hedge especially particularly against its unexpected component. Further, cash and bonds were found to provide respectively a partial and an over hedge against unexpected inflation. Stocks act as a perverse hedge against unexpected inflation and provide no significant positive hedge against expected inflation.

Keywords: direct housing, inflation, hedging ability, optimal portfolio, Grand Paris metropolis

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Authors: Christoph Speer

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Decentralized ventilation systems should combine a small and economical design with high aerodynamic and thermal efficiency. The Counter Flow Heat Recovery Fan (CHRF) provides the ability to meet these requirements by using only one cross flow fan with a large number of blades to generate both airflows and which simultaneously acts as a regenerative counter flow heat exchanger. The successful development of the first laboratory prototype has shown the potential of this ventilation system. Occurring condensate on the surfaces of the fan blades during the cold and dry season can be recovered through the characteristic mode of operation. Hence the CHRF provides the possibility to avoid the need for frost protection and condensate drain. Through the implementation of system-specific solutions for flow balancing and summer bypass the required functionality is assured. The scalability of the CHRF concept allows the use in renovation as well as in new buildings from single-room devices through to systems for office buildings. High aerodynamic and thermal efficiency and the lower number of required mechatronic components should enable a reduction in investment as well as operating costs. The rotor is the key component of the system, the requirements and possible implementation variants are presented.

Keywords: CHRF, counter flow heat recovery fan, decentralized ventilation system, renovation

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Authors: R. M. Chandler, A. J. Stringer

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In adults, short bursts of high-intensity exercise (intensities between 80-95% of maximum heart rates) increase cardiovascular and metabolic function without the time investment of traditional aerobic training. Similar improvements in various health indices are also becoming increasingly evident in children in countries other than the United States. In the United States, physical education programs have become shorter in length and fewer in frequency. With this in the background, it is imperative that health and physical educators delivered well-organized and focused fitness programs that can be tolerated across many different somatotypes. Perhaps the least effective lag-time in a US physical education (PE) class is the first 10 minutes, a time during which children warm up. Replacing a traditional PE warmup with a 10 min high-intensity excise protocol is a time-efficient method to impact health, leaving as much time for other PE material such as skill development, motor behavior development as possible. This supplemented 10 min high-intensity exercise increases cardiovascular function as well as induces favorable body composition changes in as little as six weeks with further enhancement throughout a semester of activity. The supplemental high-intensity exercise did not detract from the PE lesson outcomes.

Keywords: cardiovascular fitness, high intensity interval training, high intensity exercise, pediatric

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Authors: T. Wanyama, B. Far

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Automatic irrigation systems usually conveniently protect landscape investment. While conventional irrigation systems are known to be inefficient, automated ones have the potential to optimize water usage. In fact, there is a new generation of irrigation systems that are smart in the sense that they monitor the weather, soil conditions, evaporation and plant water use, and automatically adjust the irrigation schedule. In this paper, we present an agent based smart irrigation system. The agents are built using a mix of commercial off the shelf software, including MATLAB, Microsoft Excel and KEPServer Ex5 OPC server, and custom written code. The Irrigation Scheduler Agent uses fuzzy logic to integrate the information that affect the irrigation schedule. In addition, the Multi-Agent system uses Open Platform Connectivity (OPC) technology to share data. OPC technology enables the Irrigation Scheduler Agent to communicate over the Internet, making the system scalable to a municipal or regional agent based water monitoring, management, and optimization system. Finally, this paper presents simulation and pilot installation test result that show the operational effectiveness of our system.

Keywords: community water usage, fuzzy logic, irrigation, multi-agent system

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Authors: Ayele Tamene

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Cultural heritage is the legacy of physical artifacts and intangible attributes of a group or society that are inherited from past generations, maintained in the present and bestowed for the benefit of future generations. Tangible heritage e includes buildings and historic places, monuments, artifacts, etc., which are considered worthy of preservation for the future. These include objects significant to the archaeology, architecture, science or technology of a specific culture. The research addressed the challenges and prospects of preservation of tangible cultural heritage management in Lake Tana islands; Amahara Regional State. Specifically, the research inquired the major factors which affected tangible cultural heritage management, investigated how communities successfully involved in tangible cultural heritage management, and described the contribution of cultural management to tourism development. It employed qualitative research approaches to grasp the existing condition in the study area. Major techniques of data gathering such as in-depth interview, observation/photographing and Focus Group Discussion (FGDs) were used. Related documents collected through secondary sources were examined and analyzed. In Lake Tana Islands precious heritages such as ancient religious manuscripts (written since 9th century), sacral wall paintings, gold and silver Crosses, crowns and prestigious clothes of the various kings of the medieval and the 19th century are found. The study indicated that heritages in Tana islands were affected by both natural and manmade problems. In Lake Tana Islands, movable heritages were looted several times by foreign aggressors, tourists, and local people who serve there. Some heritages were affected by visitors by their camera flash light and hand touch. Most heritages in the Tana islands lacked community ownership and preserved non- professionally which highly affected their originality and authenticity. Therefore, the local community and the regional government should work together in the preservation of these heritage sites and enhance their role for socio-economic development as a center of research and tourist destinations.

Keywords: cultural heritages, heritage preservation, lake Tana heritages, non professional preservation tangible heritages

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Authors: Okorowo Cyril Agochi

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The Niger Delta Region of Nigeria is home to about 20 million people and 40 different ethnic groups. The region has an area of seventy thousand square kilometers (70,000 KM2) of wetlands, formed primarily by sediments deposition and makes up 7.5 percent of Nigeria's total landmass. The notable ecological zones in this region includes: coastal barrier islands; mangrove swamp forests; fresh water swamps; and lowland rainforests. This incredibly naturally-endowed ecosystem region, which contains one of the highest concentrations of biodiversity on the planet, in addition to supporting abundant flora and fauna, is threatened by the inhuman act known as gas flaring. Gas flaring is the combustion of natural gas that is associated with crude oil when it is pumped up from the ground. In petroleum-producing areas such as the Niger Delta region of Nigeria where insufficient investment was made in infrastructure to utilize natural gas, flaring is employed to dispose of this associated gas. This practice has impoverished the communities where it is practiced, with attendant environmental, economic and health challenges. This paper discusses the adverse environmental and health implication associated with the practice, the role of Government, Policy makers, Oil companies and the Local communities aimed at bring this inhuman practice to a prompt end.

Keywords: natural combustion, emission, environment, flaring, gas, health, Niger Delta

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Authors: Andrea Paltrinieri, Alberto Dreassi, Stefano Miani, Alex Sclip

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The financial crises caused a collapse in prices of most asset classes, raising the attention on alternative investments such as Sukuk, a smaller, fast growing but often misunderstood market. We study diversification benefits of Sukuk, their correlation with other asset classes and the effects of their inclusion in investment portfolios of institutional and retail investors, through a comprehensive comparison of their risk/return profiles during and after the financial crisis. We find a beneficial performance adjusted for the specific volatility together with a lower correlation especially during the financial crisis. The distribution of Sukuk returns is positively skewed and leptokurtic, with a risk/return profile similarly to high yield bonds. Overall, our results suggest that Sukuk present diversification opportunities, a significant volatility-adjusted performance and lower correlations especially during the financial crisis. Our findings are relevant for a number of institutional investors. Long term investors, such as life insurers would benefit from Sukuk’s protective features during financial crisis yet keeping return and growth opportunities, whereas banks would gain due to their role of placers, advisors, market makers or underwriters.

Keywords: sukuk, zero beta asset, asset allocation, sukuk market

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Authors: Liang Sun, Yi He

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The origination and development of Chinese traditional villages have a strong link with clan society. Thousands of traditional villages are constituted by one big family who have the same surname. Villages’ basic social relationships are built on the basis of family kinship. Clan power controls family courtyards’ spatial structure and influences their evolvement process. Compared with other countries, research from perspective of clanism is a particular and universally applicable manner to recognize Chinese traditional villages’ space features. This paper takes traditional villages in astern Zhejiang province as examples, especially a single-clan village named Zoumatang. Through combining rural sociology with architecture, it clarifies the coupling relationship between clan structure and village space, reveals spatial composition and evolvement logic of family courtyards. Clan society pays much attention to the patrilineal kinship and genealogy. In astern Zhejiang province, clan is usually divided to ‘clan-branches-families’ three levels. Its structural relationship looks like pyramid, which results in ‘center-margin’ structure when projecting to villages’ space. Due to the cultural tradition of ancestor worship, family courtyards’ space exist similar ‘center-margin’ structure. Ancestor hall and family temple are respectively the space core of village and courtyard. Other parts of courtyard also shows order of superiority and inferiority. Elder and men must be the first. However, along with the disintegration of clan society, family courtyard gradually appears fragmentation trend. Its spatial structure becomes more and more flexible and its scale becomes smaller and smaller. Living conditions rather than ancestor worship turn out to be primary consideration. As a result, there are different courtyard historical prototype in different historic period. To some extent, Chinese present traditional villages’ conservation ignore the impact of clan society. This paper discovers the social significance of courtyard’s spatial texture and rebuilds the connection between society and space. It is expected to promote Chinese traditional villages’ conservation paying more attention to authenticity which defined in the historical process and integrity which built on the basis of social meaning.

Keywords: China, clanism, courtyard, evolvement process, spatial structure, traditional village

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Authors: Sameh Shahin, Nannang Arrys

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Optimizing pit slope stability and reducing strip ratio of a mining operation are two key tasks in geotechnical engineering. With a growing demand for minerals and an increasing cost associated with extraction, companies are constantly re-evaluating the viability of mineral deposits and challenging their geological understanding. Within Rio Tinto Iron Ore, the Structural Geology (SG) team investigate and collect critical data, such as point based orientations, mapping and geological inferences from adjacent pits to re-model deposits where previous interpretations have failed to account for structurally controlled slope failures. Utilizing innovative data collection methods and data-driven investigation, SG aims to address the root causes of slope instability. Committing to a resource grid drill campaign as the primary source of data collection will often bias data collection to a specific orientation and significantly reduce the capability to identify and qualify complexity. Consequently, these limitations make it difficult to construct a realistic and coherent structural model that identifies adverse structural domains. Without the consideration of complexity and the capability of capturing these structural domains, mining operations run the risk of inadequately designed slopes that may fail and potentially harm people. Regional structural trends have been considered in conjunction with surface and in-pit mapping data to model multi-batter fold structures that were absent from previous iterations of the structural model. The risk is evident in newly identified dip-slope and rock-mass controlled sectors of the geotechnical design rather than a ubiquitous dip-slope sector across the pit. The reward is two-fold: 1) providing sectors of rock-mass controlled design in previously interpreted structurally controlled domains and 2) the opportunity to optimize the slope angle for mineral recovery and reduced strip ratio. Furthermore, a resulting high confidence model with structures and geometries that can account for historic slope instabilities in structurally controlled domains where design assumptions failed.

Keywords: structural geology, geotechnical design, optimization, slope stability, risk mitigation

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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 bonds, blue carbon, tokenization, green finance

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Authors: Keith Dominic T. Li

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The soaring prices of residential properties in Hong Kong has become a social problem that even the middle class is having dif?iculties in purchasing homes. In making policies to curb the prices, it is important to determine the factors that contribute to the property in?lation. Many researches attribute this in?lation to macroeconomic factors especially the interest rate. However, it is important to remember that Hong Kong is under a Currency Board system which makes its interest rate exogenously determined. This research aims to show the signi?icance of the money supply on Hong Kong residential property prices in post-1997 Asian Financial Crisis period. Using money supply data, macroeconomic fundamentals, and demographic variables from 2000Q1 to 2013Q2, the factors contributed to residential property price in?lation are estimated to calculate the share of each explanatory variable in disparity. It is found that the Hong Kong property market is mainly driven by investment and that the in?lation on Hong Kong residential property prices can explained by the increase in the Hang Seng Index and in the money supply M2.

Keywords: real estate, Hong Kong, property market, monetary economics, monetary policy

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Authors: Diego Sánchez, Sandra M. Aguilar, José F. Gómez, Gustavo Montaño, Laura P. Otero, Carlos V. Rey, José A. Martínez, Juliana Robles, Jorge E. Burgos, Juan S. López

Abstract:

Bogota is making efforts towards urban resilience through Nature-based Solutions (NbS) incorporation in public projects as a climate change resilience strategy. The urban renovation project on the Alhambra square includes Green Infrastructure (GI), like Sustainable Urban Drainage Systems (SUDS) and Urban Trees (UT), as ecosystem services (ES) boosters. This study analyzes 3 scenarios: (1) the initial situation without NbS, (2) the expected situation including NbS in the design and (3) the projection of the second one after 30 years, calculating the ecosystem services, the stormwater management benefits provided by SUDS and the cultural services. The obtained results contribute to the understanding of the urban NbS benefits in public spaces, providing valuable information to foster investment in sustainable projects and encouraging policy makers to integrate NbS in urban planning.

Keywords: ecosystem services, nature-based solutions, stormwater management, sustainable urban drainage systems

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Authors: Indrani Gupta, Leena Vachasiddha, Rakesh Kumar

Abstract:

Municipal Corporation of Greater Mumbai intends to undertake Mumbai Sewage Disposal (MSDP) for improvement of environment in and around Mumbai city. Sewage generated from the city currently gets partly into the inadequate collection system for treatment and the rest into nearby marine water body through drains. This paper addresses the cost benefit analysis of MSDP works for better compliance of sewage treatment and disposal. Cost benefit analysis indicates that the investment in sewage treatment is economically beneficial and will provide immense social, environmental, health and economic benefits. Monetary values of positive benefits such as avoided health costs, enhanced fish catches and improved tourism have been quantified. The total capital cost of the project is estimated to be about INR 51,510 million and operation and maintenance cost is about INR 2240.6 million per year. The cost benefit analysis indicates that a benefit of about 25,882 million per year can be achieved due to the implementation of this project. Other than these benefits, better marine ecosystem quality; higher property cost; improved recreational opportunities were not included because of lack of information.

Keywords: waste water treatment, cost-benefit analysis, health, tourism, fisheries

Procedia PDF Downloads 326

Authors: Betek Cecilia Kunseh, Musampa Christopher

Abstract:

Despite significant investment and important progress, access to safe potable water continues to be one of the most pressing challenges for rural communities in O R Tambo District Municipality. This is coupled with the low income of most residents and government's policy which obliges municipalities to supply basic water usually set at 6 kilolitres per month to each household free of charge. During the research, data was collected from three local municipalities of O. R. Tambo, i.e. King Sabata Dalindyebo, Mhlontlo and Ingquza Hill local municipalities. According to the result, significant differences exist between the sources of water in the different local municipalities from which data was collected. The chi square was use to calculated the differences between the sources of water and the calculated critical value of the District Municipality was 18.77 which is more than the stipulated critical value of 3.84. More people in Mhlontlo Local Municipality got water from the taps while a greater percentage of households in King Sataba Dalindyebo and Ingquza hill local municipalities got their water from the natural sources. 77% of the sample population complained that there have been no improvements in water provision because they still get water from natural sources and even the remaining 33% that were getting water from the taps still have to depend on natural sources because the taps are most of the time broken and it takes a long time to fix them.

Keywords: availability, water, sources, supply

Procedia PDF Downloads 335

Authors: Dina Alfreahat, Zoltan Sebestyen

Abstract:

Safety is considered as one of the project’s success factors. Poor safety management may result in accidents that impact human, economic, and legal issues. Therefore, it is necessary to consider safety and health as a project success factor along with other project success factors, such as time, cost, and quality. Organizations have a knowledge deficit of the implementation of long-term safety practices, and due to cost control, safety problems tend to receive the least priority. They usually assume that safety management involves expenditures unrelated to production goals, thereby considering it unnecessary for profitability and competitiveness. The purpose of this study is to introduce, analysis and identify the correlation between the orientation of the public safety procedures of an organization and the public safety standards applied in the project. Therefore, the authors develop the process and collect the possible mathematical-statistical tools supporting the previously mentioned goal. The result shows that the adoption of management to safety is a major factor in implementing the safety standard in the project and thereby improving safety performance. It may take time and effort to adopt the mindset of safety orientation service development, but at the same time, the higher organizational investment in safety and health programs will contribute to the loyalty of staff to safety compliance.

Keywords: project management perspective, safety orientation, safety performance, safety standards

Procedia PDF Downloads 167

Authors: Kageeporn Wongpreedee, Bongkot Phichaikamjornwut, Duangkhae Bootkul

Abstract:

The technique of stone in place casting had been established in jewelry production for two decades. However, the process were not widely used since it was limited to precious stones with high hardness and high stabililty at high temperature. This experiment were tested on tourmaline which is semi-precious gemstone having less hardness and less stability comparing to precious stones. The experiment were designed into two parts. The first part is to understand the phenomena of tourmaline under the heating conditions. Natural tourmaline stones were investigated and compared inclusions inside stones tested at temperature of 500 °C, 600 °C, and 700 °C. The second part is to cast the treated tourmaline with ion-implanation under the stones in place casting conditions. The results showed that stones were able to tolerate as much as at 700 °C showing the growths of inclusions inside the stones. The second part of this experiment were compared tourmaline with ion-implantation and natural tourmaline using on stones in place casting process at different stone setting types. The results showed that the cracks and inclustions of both treat and natural tourmaline with stones in place casting were propagate due to high stress of metal contractions. The stones with ion-implatation were more likely tolerate to cracks and inclusion propagations inside the stones.

Keywords: stone in place casting, tourmaline, ion implantation, metal contraction

Procedia PDF Downloads 210