Search results for: circular economy

Authors: Abobaker Mohammed Qasem Farhan, Olof M. A. Saif

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The demand for parking spaces in urban areas, particularly in developing countries, has led to a significant issue in the absence of sufficient parking spaces in crowded areas, which results in daily traffic congestion as drivers search for parking. This not only affects the appearance of the city but also has indirect impacts on the economy, society, and environment. In response to these challenges, researchers from various countries have sought technical and intelligent solutions to mitigate the problem through the development of smart parking systems. This paper aims to analyze and design three models of parking lots, with a focus on parking time and security. The study used computer software and Uppaal tools to simulate the models and determine the best among them. The results and suggestions provided in the paper aim to reduce the parking problems and improve the overall efficiency and safety of the parking process. The conclusion of the study highlights the importance of utilizing advanced technology to address the pressing issue of insufficient parking spaces in urban areas.

Keywords: preliminaries, system requirements, timed Au- tomata, Uppaal

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Authors: Min Wei

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With the rapid development eco-tourism resources exploitation, the conflict between economy development and ecological environment is increasingly prominent. The environmental protection laws, however, are lack of necessary legal support to use market mechanism and economic means to carry out ecological compensation and promote the environmental protection. In order to protect the sustainable utilization of eco-tourism resources and the benign development of the interests of various stakeholders, protection of ecological compensation balance should be put on schedule. The main role of institutional guarantee in eco-tourism resources' value compensation mechanism is to solve the question 'how to guarantee compensation'. The evaluation of the game model in this paper reveals that interest balance of stakeholders is an important cornerstone to obtain the sustainable development. The findings result in constructing a sustainable development pattern of eco- tourism industry based on tripartite game equilibrium among government, tourism enterprises and tourists. It is important that the social, economic and ecological environment should be harmonious development during the pursuit of eco-tourism growth.

Keywords: environmental protection, ecological compensation, eco-tourism, market mechanism

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Authors: Fang Bin Guo, Emma Roberts, Haibin Du, Yonggang Wang, Yu Chen, Xiuli Ge

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This paper explores the findings so far from a major externally-funded project which operates internationally in China, Germany and the UK. The research team is working in the context of the redevelopment of post-industrial sites in China and how these might be platforms for creative enterprises and thereby, the economy and welfare to flourish. Results from the project are anticipated to inform urban design policies in China and possibly farther afield. The research has utilised ethnographic studies and participatory design methods to investigate alternative strategies for sustainable urban renewal of China’s post-industrial areas. Additionally, it has undertaken comparative studies of successful examples of European and Chinese urban regeneration cases. The international cross-disciplinary team has been seeking different opportunities for developing relevant creative industries whilst retaining cultural and industrial heritage. This paper will explore the research conducted so far by the team and offer initial findings. Findings point out the development challenges of cities respecting the protection of local culture/heritages, history of the industries and transformation of the local economies. The preliminary results and pilot analysis of the current research have demonstrated that local government policyholders, business investors/developers and creative industry practitioners are the three major stakeholders that will impact city revitalisations. These groups are expected to work together with asynchronous vision in order for redevelopments to be successful. Meanwhile, local geography, history, culture, politics, economy and ethnography have been identified as important factors that impact on project design and development during urban transformations. Data is being processed from the team’s research conducted across the focal Western and Chinese cities. This has provided theoretical guidance and practical support to the development of significant experimental projects. Many were re-examined with a more international perspective, and adjustments have been based on the conclusions of the research. The observations and research are already generating design solutions in terms of ascertaining essential site components, layouts, visual design and practical facilities for regenerated sites. Two significant projects undertaken by this project team have been nominated by the central Chinese government as the most successful exemplars. They have been listed as outstanding national industry heritage projects; in particular, one of them was nominated by ArchDaily as Building of the Year 2019, and so this project outcome has made a substantial contribution to research and innovation. In summary, this paper will outline the funded project, discuss the work conducted so far, and pinpoint the initial discoveries. It will detail the future steps and indicate how these will impact on national and local governments in China, designers, local citizens and building users.

Keywords: cultural & industrial heritages, ethnographic research, participatory design, regeneration of post-industrial sites, sustainable

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Authors: Wendy De Gomez

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The University of Waterloo is situated in central Canada in the Province of Ontario- one hour from the metropolitan city of Toronto. For over 30 years, it has held Canada’s top spot as the most innovative university; and has been consistently ranked in the top 25 computer science and top 50 engineering schools in the world. Waterloo benefits from the federal government’s over 100 domestic innovation policies which have assisted in the country’s 15th place global ranking in the World Intellectual Property Organization’s (WIPO) 2022 Global Innovation Index. Yet undoubtedly, the University of Waterloo’s unique characteristics are what propels its innovative creativeness forward. This paper will provide a contextual definition of innovation in higher education and then demonstrate the five operational attributes that contribute to the University of Waterloo’s innovative reputation. The methodology is based on statistical analyses obtained from ranking bodies such as the QS World University Rankings, a secondary literature review related to higher education innovation in Canada, and case studies that exhibit the operationalization of the attributes outlined below. The first attribute is geography. Specifically, the paper investigates the network structure effect of the Toronto-Waterloo high-tech corridor and the resultant industrial relationships built there. The second attribute is University Policy 73-Intellectal Property Rights. This creator-owned policy grants all ownership to the creator/inventor regardless of the use of the University of Waterloo property or funding. Essentially, through the incentivization of IP ownership by all researchers, further commercialization and entrepreneurship are formed. Third, this IP policy works hand in hand with world-renowned business incubators such as the Accelerator Centre in the dedicated research and technology park and velocity, a 14-year-old facility that equips and guides founders to build and scale companies. Communitech, a 25-year-old provincially backed facility in the region, also works closely with the University of Waterloo to build strong teams, access capital, and commercialize products. Fourth, Waterloo’s co-operative education program contributes 31% of all co-op participants to the Canadian economy. Home to the world’s largest co-operative education program, data shows that over 7,000 from around the world recruit Waterloo students for short- and long-term placements- directly contributing to the student’s ability to learn and optimize essential employment skills when they graduate. Finally, the students themselves at Waterloo are exceptional. The entrance average ranges from the low 80s to the mid-90s depending on the program. In computer, electrical, mechanical, mechatronics, and systems design engineering, to have a 66% chance of acceptance, the applicant’s average must be 95% or above. Singularly, none of these five attributes could lead to the university’s outstanding track record of innovative creativity, but when bundled up into a 1000 acre- 100 building main campus with 6 academic faculties, 40,000+ students, and over 1300 world-class faculty, the recipe for success becomes quite evident.

Keywords: IP policy, higher education, economy, innovation

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Authors: Akhter Hussain Najar

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Honey bees are the best insect grown on earth and are taking the lead in the global ecosystem. Life on earth depends upon honey bees pollinating each and every flower in its reign. The global economy is balanced by providing financial attribute due to the use of valuable resources generated from honey bees like honey, royal jelly, bee venom, propolis, bee wax even queens from parent colonies is now in demand. Livelihood stability is also maintained by the rearing of honey bees; beekeeping became a new professional work to be cared for by the experts. Indigenous methodologies are used to rear honey bees. The rearing of honey bees showed variation in different states like Uttar Pradesh, Rajasthan, Haryana, Punjab, Jammu, Kashmir, etc. The production of honey depends upon the area and the availability of crops and the colonies of beekeepers in these states. However, the kind of honey from Jammu and Kashmir, like Accacia and Solai, has different color and odour from the honey generated in the rest of the states. However, the nature and viscosity vary from state to state. But in the last few years, the honey from Jammu and Kashmir has given different shapes when kept at room temperature due to unconditional rainfall during honey peak season in J&K.

Keywords: ecosystem pollen, pollination, honey bee

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Authors: Elena Tkachenko, Elena Rogova, Daria Koval

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The paper examines the ways of cash flows forecasting in the dynamic external environment. The so-called new reality in economy lowers the predictability of the companies’ performance indicators due to the lack of long-term steady trends in external conditions of development and fast changes in the markets. The traditional methods based on the trend analysis lead to a very high error of approximation. The macroeconomic situation for the last 10 years is defined by continuous consequences of financial crisis and arising of another one. In these conditions, the instruments of forecasting on the basis of fuzzy sets show good results. The fuzzy sets based models turn out to lower the error of approximation to acceptable level and to provide the companies with reliable cash flows estimation that helps to reach the financial stability. In the paper, the applicability of the model of cash flows forecasting based on fuzzy logic was analyzed.

Keywords: cash flow, industrial enterprise, forecasting, fuzzy sets

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Authors: Paul Gurr, Maik Moser

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In Europe, some countries recently abolished air passenger taxes (APT), while others issued or consider issuing an APT. From a fiscal perspective, APT can benefit the environment, while generating a vast amount of tax revenue with relatively low administration costs. However, they may have significant negative effects on the economy. Focusing on the German air passenger tax issued 2011, this work estimates the elasticity of tourism outflows using data on passenger departures from German airports between 2010 and 2016 aggregated by destination country. The results are obtained by estimating a model of the demand for outbound tourism. In line with theory, the regression results indicate a negative relationship between taxes and departures from Germany. Furthermore, on average, an increase of the air passenger tax rate results in a relatively higher decrease of passenger departures. The elasticity of tourism outflows can be used to estimate tax revenue changes and hence evaluate possible policy actions. Neglecting environmental reasons, the results suggest that tax revenue might be maximized by reducing the air passenger tax rate. Besides Germany, this work is also important for countries which have or consider implementing APT.

Keywords: air passenger tax, Germany, Outbound tourism, panel data

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Authors: Irina Rönnqvist

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The world is constantly changing; therefore previous views or cultural patterns and programs formed by the “old world” cannot be suitable for solving actual problems. Indeed, reformation of an education system is unlikely to be effective without understanding of the processes that emerge in the field of employment. There is a problem in overcoming of the negative trends that determine imbalance of needs of the qualified work force and preparation of professionals by an education system. At the contemporary stage of economics the processes occurring in the field of labor and employment reproduce the picture of economic development of the country that cannot be imagined without the factor of labor mobility (e.g. migration). On the one hand, adult education has a significant impact on multifaceted development of economy. On the other hand, Sweden has one of the world's most generous asylum reception systems and the most liberal labor migration policy among the OECD countries. This effect affects the increased productivity. The focus of this essay is on problems of education and employment concerning social inclusion of migrants in working life in Sweden.

Keywords: migration, adaptation, formal learning, informal learning, Sweden

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Authors: Kira Toxopeus, Kamran Siddiqui

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Channel flows are common in a wide range of engineering applications. In some types of channel flows, particularly the ones involving chemical or biological processes, the control of the flow temperature is crucial to maintain the optimal conditions for the chemical reaction or to control the growth of biological species. This often becomes an issue when the flow experiences temperature fluctuations due to external conditions. While active heating and cooling could regulate the channel temperature, it may not be feasible logistically or economically and is also regarded as a non-sustainable option. Thermal energy storage utilizing phase change material (PCM) could provide the required thermal regulation sustainably by storing the excess heat from the channel and releasing it back as required, thus regulating the channel temperature within a range in the proximity of the PCM melting temperature. However, in designing such systems, the configuration of the PCM storage within the channel is critical as it could influence the channel flow dynamics, which would, in turn, affect the heat exchange between the channel fluid and the PCM. The present research is focused on the investigation of the flow dynamical behavior in the channel during heat transfer from the channel flow to the PCM thermal energy storage. Offset vertical columns in a narrow channel were used that contained the PCM. Two different column shapes, square and circular, were considered. Water was used as the channel fluid that entered the channel at a temperature higher than that of the PCM melting temperature. Hence, as the water was passing through the channel, the heat was being transferred from the water to the PCM, causing the PCM to store the heat through a phase transition from solid to liquid. Particle image velocimetry (PIV) was used to measure the two-dimensional velocity field of the channel flow as it flows between the PCM columns. Thermocouples were also attached to the PCM columns to measure the PCM temperature at three different heights. Three different water flow rates (0.5, 0.75 and 1.2 liters/min) were considered. At each flow rate, experiments were conducted at three different inlet water temperatures (28ᵒC, 33ᵒC and 38ᵒC). The results show that the flow rate and the inlet temperature influenced the flow behavior inside the channel.

Keywords: channel flow, phase change material, thermal energy storage, thermal regulation

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Authors: Verena M. Moock, Darien E. Arce Chávez, Mariana M. Espejel González, Leopoldo Ruíz-Huerta, Crescencio García-Segundo

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Uncertainty analysis in industrial computed tomography is commonly related to metrological trace tools, which offer precision measurements of external part features. Unfortunately, there is no such reference tool for internal measurements to profit from the unique imaging potential of X-rays. Uncertainty approximations for computed tomography are still based on general aspects of the industrial machine and do not adapt to acquisition parameters or part characteristics. The present study investigates the impact of the acquisition time on the dimensional uncertainty measuring a stainless steel cylinder with a circular tomography scan. The authors develop the figure difference method for X-ray radiography to evaluate the volumetric differences introduced within the projected absorption maps of the metal workpiece. The dimensional uncertainty is dominantly influenced by photon energy dissipated as heat causing the thermal expansion of the metal, as monitored by an infrared camera within the industrial tomograph. With the proposed methodology, we are able to show evolving temperature differences throughout the tomography acquisition. This is an early study showing that the number of projections in computer tomography induces dimensional error due to energy absorption. The error magnitude would depend on the thermal properties of the sample and the acquisition parameters by placing apparent non-uniform unwanted volumetric expansion. We introduce infrared imaging for the experimental display of metrological uncertainty in a particular metal part of symmetric geometry. We assess that the current results are of fundamental value to reach the balance between the number of projections and uncertainty tolerance when performing analysis with X-ray dimensional exploration in precision measurements with industrial tomography.

Keywords: computed tomography, digital metrology, infrared imaging, thermal expansion

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Authors: Rizwana Tabassum

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Introductive Statement: Delay in budget releases is often cited as one of the biggest bottlenecks to smooth and efficient service delivery. While budget release from the ministry of finance to the line ministries has been expedited by simplifying the procedure, budget distribution within the line ministries remains one of the major causes of slow budget utilization. While the budget preparation is a bottom-up process where all DDOs submit their proposals to their controlling officers (such as Upazila Civil Surgeon sends it to Director General Health), who consolidate the budget proposals in iBAS++ budget preparation module, the approved budget is not disaggregated by all DDOs. Instead, it is left to the discretion of the controlling officers to distribute the approved budget to their sub-ordinate offices over the course of the year. Though there are some need-based criteria/formulae to distribute the approved budget among DDOs in some sectors, there is little evidence that these criteria are actually used. This means that majority of the DDOs don’t know their yearly allocations upfront to enable yearly planning of activities and expenditures. This delays the implementation of critical activities and the payment to the suppliers of goods and services and sometimes leads to undocumented arrears to suppliers for essential goods/services. In addition, social sector budgets are fragmented because of the vertical programs and externally financed interventions that pose several management challenges at the level of the budget holders and frontline service providers. Slow procurement processes further delay the provision of necessary goods and services. For example, it takes an average of 15–18 months for drugs to reach the Upazila Health Complex and below, while it should not take more than 9 months in procuring and distributing these. Aim of the Study: This paper aims to investigate the budget distribution practices of an emerging economy, Bangladesh. The paper identifies challenges of timely distribution and ways to deal with problems as well. Methodology: The study draws conclusions on the basis of document analysis which is a branch of the qualitative research method. Major Findings: Upon approval of the National Budget, the Ministry of Finance is required to distribute the budget to budget holders at the department level; however, budget is distributed to drawing and disbursing officers much later. Conclusions: Timely and predictable budget releases assist completion of development schemes on time and on budget, with sufficient recurrent resources for effective operation. ADP implementation is usually very low at the beginning of the fiscal year and expedited dramatically during the last few months, leading to inefficient use of resources. The timely budget release will resolve this issue and deliver economic benefits faster, better, and more reliably. This will also give the project directors/DDOs the freedom to think and plan the budget execution in a predictable manner, thereby ensuring value for money by reducing time overrun and expediting the completion of capital investments, and improving infrastructure utilization through timely payment of recurrent costs.

Keywords: budget distribution, challenges, digitization, emerging economy, service delivery

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Authors: Mouataz Zreika, Maria Estela Varua

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Stock investment decisions are often made based on current events of the global economy and the analysis of historical data. Conversely, visual representation could assist investors’ gain deeper understanding and better insight on stock market trends more efficiently. The trend analysis is based on long-term data collection. The study adopts a hybrid method that combines the Clustering algorithm and Force-directed algorithm to overcome the scalability problem when visualizing large data. This method exemplifies the potential relationships between each stock, as well as determining the degree of strength and connectivity, which will provide investors another understanding of the stock relationship for reference. Information derived from visualization will also help them make an informed decision. The results of the experiments show that the proposed method is able to produced visualized data aesthetically by providing clearer views for connectivity and edge weights.

Keywords: clustering, force-directed, graph drawing, stock investment analysis

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Authors: Risanda Alirastra Budiantoro, Riesanda Najmi Sasmita, Sri Herianingrum

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Allah has given the guidance in the form of Islam for Muslim to take and lead all the aspects of life including the economic activity. The Islamic economic system is believed to be the answer to the economic problems that exist at this time. The goal is to achieve falah in kaffah by not doing some economic activities that are in violation as prescribed by Islam. An example for this is riba. Discourse on riba can be said ‘classical’ both in the development of Islamic thought and in Islamic civilization because riba often occurs in all aspects of public life, especially economic transactions (in Islam called muamalah). Riba is an additional retrieval, either in a sale and purchase transaction or lending in a false or contrary to the principle of muamalah in Islam. Prohibition of riba is obtained from various sources by the Qur'an and Hadith Rasulullah SAW, so the scholars firmly and clearly defined the prohibition of riba because there are exploitative elements that can harm the others. So, this study is aimed to identify Islamic economic system and the prohibition of riba in historical perspective. From the results of this study, it is expected to be a good reference for the reader to understand the Islamic economic system and riba in the future.

Keywords: economics system, riba, historical perspective, economy

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Authors: Huyen T. Pham, Nhue P. Nguyen, Tien Q. Phi, Phuong T. Dang, Hy G. Le

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Since the marine environmental conditions are extremely different from the other ones, so that marine actinomycetes might produce novel bioactive compounds. Therefore, actinomycete strains were screened from marine water and sediment samples collected from the coastal areas of Northern Vietnam. Ninety-nine actinomycete strains were obtained on starch-casein agar media by dilution technique, only seven strains, named HP112, HP12, HP411, HPN11, HP 11, HPT13 and HPX12, showed significant antibacterial activity against both gram-positive and gram-negative bacteria (Bacillus subtilis ATCC 6633, Staphylococcus epidemidis ATCC 12228, Escherichia coli ATCC 11105). Further studies were carried out with the most active HP411strain against Candida albicans ATCC 10231. This strain could grow rapidly on starch casein agar and other media with high salt containing 7-10% NaCl at 28-30oC. Spore-chain of HP411 showed an elongated and circular shape with 10 to 30 spores/chain. Identification of the strain was carried out by employing the taxonomical studies including the 16S rRNA sequence. Based on phylogenetic and phenotypic evidence it is proposed that HP411 to be belongs to species Streptomyces variabilis. The potent of the crude extract of fermentation broth of HP411that are effective against wide range of pathogens: both gram-positive, gram-negative and fungi. Further studies revealed that the crude extract HP411 could obtain the anticancer activity for cancer cell lines: Hep-G2 (liver cancer cell line); RD (cardiac and skeletal muscle letters cell line); FL (membrane of the uterus cancer cell line). However, the actinomycetes from marine ecosystem will be useful for the discovery of new drugs in the furture.

Keywords: marine actinomycetes, antibacterial, anticancer, Streptomyces variabilis

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Authors: Siziwe Monica Zuma

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The Expanded Public Works Program (EPWP) is an instrument that the South African Government uses to reduce unemployment and poverty and also stimulate economic growth. However, due to the limited budget and programs in the EPWP, the program has had challenges in reducing unemployment, poverty and stimulating economic growth. The EPWP Vuk’uphile program had positive outcomes in developing Black emerging contractors, in order for them to participate in the main stream economy far better than when the EPWP program was not introduced. The Skills component of the program particularly the EPWP Infrastructure, which is the most funded program under EPWP has had limited success in transferring appropriate skills to ensure labour participants can penetrate the labour market after participating in the EPWP. Education and skills are important attributes that can contribute to labour absorption, however, the EPWP particularly the infrastructure program needs to strengthen skills development over a longer period of time suggested a year with multi skills relevant to the labour market. Longer and more sustained employment provides a safety net and reduces poverty better that short term employment. The EPWP program can be expanded in the infrastructure sector, focusing on rural infrastructure, agricultural infrastructure, infrastructure related components like property, ownership, management, and other services. These can stimulate the Economic sector Infrastructure of EPWP, offer longer term and more sustained employment and rural enterprise development and further employment. The Expanded Public Works Program (EPWP) is an instrument that the South African Government uses to reduce unemployment and poverty and also stimulate economic growth. However, due to the limited budget and programs in the EPWP, the program has had challenges in reducing unemployment, poverty and stimulating economic growth. The EPWP Vuk’uphile program has had positive outcomes in developing Black emerging contractors, in order for them to participate in the main stream economy far better than when the EPWP program was not introduced. The Skills component of the program particularly the EPWP Infrastructure, which is the most funded program under EPWP has had limited success in transferring appropriate skills to ensure labour participants are able to penetrate the labour market after participating in the EPWP. Education and skills are important attributes that can contribute to labour absorption, however, the EPWP particularly the infrastructure program needs to strengthen skills development over a longer period of time suggested a year with multi skills relevant to the labour market. Longer and more sustained employment provides a safety net and reduces poverty better that short term employment. The EPWP program can be expanded in the infrastructure sector, focusing on rural infrastructure, agricultural infrastructure, infrastructure related components like property, ownership, management, and other services. These can stimulate the Economic sector Infrastructure of EPWP, offer longer term and more sustained employment and rural enterprise development and further employment.

Keywords: Expanded Public Works Program (EPWP), VUKÚPHILE, youth, Public Works Programs (PWP), Infrastructure Sector of EPWP (EPWP Infrastructure)

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Authors: Adel El-Hadidy

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For any industry, the production and quality management or wastages reductions have major impingement on overall factory economy. This work discusses the quality improvement of garment industry by applying Pareto analysis, cause and effect diagram and Taguchi experimental design. The main purpose of the work is to reduce the stitching defects, which will also minimize the rejection and reworks rate. Application of Pareto chart, fish bone diagram and Process Sigma Level/and or Performance Level tools helps solving those problems on priority basis. Among all, only sewing, defects are responsible form 69.3% to 97.3 % of total defects. Process Sigma level has been improved from 0.79 to 1.3 and performance rate improved, from F to D level. The results showed that the new set of sewing parameters was superior to the original one. It can be seen that fabric size has the largest effect on the sewing defects and that needle size has the smallest effect on the stitching defects.

Keywords: garment, sewing defects, cost of rework, DMAIC, sigma level, cause and effect diagram, Pareto analysis

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Authors: Qin Yang, Fan Zhang, Juan Du, Chongkui Sun, Krishna Kota, Yun-Ling Zheng

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Telomeres are specialized structures at chromosome ends consisting of tandem repetitive DNA sequences [(TTAGGG)n in humans] and associated proteins, which are necessary for telomere function. Telomere lengths are tightly regulated within a narrow range in normal human somatic cells, the basis of cellular senescence and aging. Previous studies have extensively focused on how short telomeres are extended and have demonstrated that telomerase plays a central role in telomere maintenance through elongating the short telomeres. However, the molecular mechanisms of regulating excessively long telomeres are unknown. Here, we found that telomerase enzymatic component hTERT plays a dual role in the regulation of telomeres length. We analyzed single telomere alterations at each chromosomal end led to the discoveries that hTERT shortens excessively long telomeres and elongates short telomeres simultaneously, thus maintaining the optimal telomere length at each chromosomal end for an efficient protection. The hTERT-mediated telomere shortening removes large segments of telomere DNA rapidly without inducing telomere dysfunction foci or affecting cell proliferation, thus it is mechanistically distinct from rapid telomere deletion. We found that expression of hTERT generates telomeric circular DNA, suggesting that telomere homologous recombination may be involved in this telomere shortening process. Moreover, the hTERT-mediated telomere shortening is required its enzymatic activity, but telomerase RNA component hTR is not involved in it. Furthermore, shelterin protein TPP1 interacts with hTERT and recruits it on telomeres to mediate telomere shortening. In addition, telomere-associated proteins, DKC1 and TCAB1 also play roles in this process. This novel hTERT-mediated telomere shortening mechanism not only exists in cancer cells, but also in primary human cells. Thus, the hTERT-mediated telomere shortening is expected to shift the paradigm on current molecular models of telomere length maintenance, with wide-reaching consequences in cancer and aging fields.

Keywords: aging, hTERT, telomerase, telomeres, human cells

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Authors: Rohan Sarker, Cory Smith

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ROMIC Group UK is a leading provider of diesel electric locomotives, specializing in innovative and efficient solutions for rail transportation. With a strong focus on sustainability and performance, ROMIC's diesel electric locomotives are engineered to reduce fuel consumption while maximizing operational efficiency. The company's locomotives incorporate advanced technologies such as regenerative braking systems and precision control software, which enhance fuel economy and minimize environmental impact. ROMIC's extensive experience in the rail sector enables it to deliver reliable and powerful locomotives that meet the demands of both freight and passenger services. These locomotives are designed for heavy-duty applications, offering superior traction and load-carrying capacity across various terrains. The company's commitment to cutting-edge engineering and customer satisfaction ensures that its locomotives are a trusted choice for rail operators looking for high performance and low operational costs. ROMIC Group UK continues to drive innovation in the rail industry with its sustainable locomotive solutions.

Keywords: diesel, electric, engines, locomotives

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Authors: Josip Arneric, Blanka Skrabic Peric

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Forecasting of volatility, i.e. returns fluctuations, has been a topic of interest to portfolio managers, option traders and market makers in order to get higher profits or less risky positions. Based on the fact that volatility is time varying in high frequency data and that periods of high volatility tend to cluster, the most common used models are GARCH type models. As standard GARCH models show high volatility persistence, i.e. integrated behaviour of the conditional variance, it is difficult the predict volatility using standard GARCH models. Due to practical limitations of these models different approaches have been proposed in the literature, based on Markov switching models. In such situations models in which the parameters are allowed to change over time are more appropriate because they allow some part of the model to depend on the state of the economy. The empirical analysis demonstrates that Markov switching GARCH model resolves the problem of excessive persistence and outperforms uni-regime GARCH models in forecasting volatility for selected emerging markets.

Keywords: emerging markets, Markov switching, GARCH model, transition probabilities

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Authors: Aleksandar Chonevski

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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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Authors: Jelena Bašić, Višnjica Vučetić, Mislav Anić, Tomislav Bašić

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Lack of precipitation combined with high temperatures causes great damage to the agriculture and economy in Croatia. Therefore, it is important to understand water circulation and balance. We decided to gain a better insight into the spatial distribution of water balance components (WBC) and their long-term changes in Croatia. WBC are precipitation (P), potential evapotranspiration (PET), actual evapotranspiration (ET), soil moisture content (S), runoff (RO), recharge (R), and soil moisture loss (L). Since measurements of the mentioned components in Croatia are very rare, the Palmer model has been applied to estimate them. We refined method by setting into the account the corrective factor to include influence effects of the wind as well as a maximum soil capacity for specific soil types. We will present one hundred years’ time series of PET and ET showing the trends at few meteorological stations and a comparison of components of two climatological periods. The meteorological data from 109 stations have been used for the spatial distribution map of the WBC of Croatia.

Keywords: croatia, long-term trends, the palmer method, water balance components

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Authors: Asim Quddus

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A miniaturized three dimensional co-planar waveguide (CPW) two-port MIMO antenna, exhibiting high isolation and WLAN band-notched characteristics is presented in this paper for ultrawideband (UWB) communication applications. The microstrip patch antenna operates as a single UWB antenna element. The proposed design is a cuboid-shaped structure having compact size of 35 x 27 x 45 mm³. Radiating as well as decoupling structure is placed around cuboidal polystyrene sheet. The radiators are 27 mm apart, placed Face-to-Face in vertical direction. Decoupling structure is placed on the side walls of polystyrene. The proposed antenna consists of an oval shaped radiating patch. A rectangular structure with fillet edges is placed on ground plan to enhance the bandwidth. The proposed antenna exhibits a good impedance match (S11 ≤ -10 dB) over frequency band of 2 GHz – 10.6 GHz. A circular slotted structure is employed as a decoupling structure on substrate, and it is placed on the side walls of polystyrene to enhance the isolation between antenna elements. Moreover, to achieve immunity from WLAN band distortion, a modified, inverted crescent shaped slotted structure is etched on radiating patches to achieve band-rejection characteristics at WLAN frequency band 4.8 GHz – 5.2 GHz. The suggested decoupling structure provides isolation better than 15 dB over the desired UWB spectrum. The envelope correlation coefficient (ECC) and gain for the MIMO antenna are analyzed as well. Finite Element Method (FEM) simulations are carried out in Ansys High Frequency Structural Simulator (HFSS) for the proposed design. The antenna is realized on a Rogers RT/duroid 5880 with thickness 1 mm, relative permittivity ɛr = 2.2. The proposed antenna achieves a stable omni-directional radiation patterns as well, while providing rejection at desired WLAN band. The S-parameters as well as MIMO parameters like ECC are analyzed and the results show conclusively that the design is suitable for portable MIMO-UWB applications.

Keywords: 3-D antenna, band-notch, MIMO, UWB

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Authors: Eleftheria Atta, Yianna Vovides, Marios Katsioloudes

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In the fusion of neoliberalism and globalization, Higher Education (HE) is becoming increasingly complex. The changing patterns of the economy worldwide caused the development of high value-added economy HE has been viewed as a social investment, significant for the development of knowledge-based societies and economies. In order to contribute to economic competitiveness universities are required to produce local and employable workers in order to fit into the neoliberal economic environment. The emergence of neoliberal performativity, which measures outcomes, is a key aspect in a neoliberal era. It facilitates the redesign of institutions making organizations and individuals to think about themselves in relation to their performance. Performativity and performance management systems lead academics to become more effective, professionally advance, improve and become better than others and therefore act competitively. Besides the aforementioned complexities, universities also encounter the challenge of maintaining a set of values to guide an institution’s actions and which have always been highly respected in developing a HE institution. The formulation of a clear set of values also determines the institutional culture which will be maintained. It is evident that values create a significant framework for the workplace and may determine positive institutional results. Universities are required to engage in activities for capacity building which will improve their students’ competence as well as offer opportunities to administrative and academic staff to professionally develop in light of neoliberal performativity. Additionally, the University is now considered as an innovation ecosystem playing a significant role in providing education, research and innovation to help create solutions to meet social, environmental and economic challenges. Thus, Universities become central in orchestrating multi-actor innovation networks. This presentation will discuss the establishment of an institutional unit entitled ‘Human Development Unit’ (HDU) in a European start-up university. The activities of the HDU are envisioned as drivers for innovation that would enable the university as a whole to maintain its position in a fast-changing world and be ready to face adaptive challenges. In addition, the HDU provides its students, staff, and faculty with opportunities to advance their academic and professional development through engagement in programs that align with institutional values. It also serves as a connector with the broader community. The presentation will highlight the functions of three centers which the unit will coordinate namely, the Student Development Center (SDC), the Faculty & Staff Development Center (FSDC) and the Continuing Education Center (CEC). The presentation aligns with the aim of the conference as it welcomes presentations to discuss innovations and challenges encountered in HE. Particularly, this presentation seeks to discuss the establishment of an innovative unit at a start-up university which will contribute to creating an institutional culture shaped by the value of academic excellence for students as well as for staff, shaping and defining the functions and activities of the unit. The establishment of the proposed unit is crucial in a start-up university both to differentiate from other competitors but also to sustain its presence given the pressures in a neoliberal HE context.

Keywords: academic excellence, globalization, human development unit, neoliberalism

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Authors: Qianhui Li, Christoph H. Bruecker

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Atherosclerotic plaques are typically found where flow separation and variations of shear stress occur. Although helical flow patterns and flow separations have been recorded in the aorta, their relation has not been clearly clarified and especially in the condition of artificial heart valve prostheses. Therefore, an experimental study is performed to investigate the hemodynamic performance of different mechanical heart valves (MHVs), i.e. the SJM Regent bileaflet mechanical heart valve (BMHV) and the Lapeyre-Triflo FURTIVA trileaflet mechanical heart valve (TMHV), in a transparent model of the human aorta under a physiological pulsatile right-hand helical flow condition. A typical systolic flow profile is applied in the pulse-duplicator to generate a physiological pulsatile flow which thereafter flows past an axial turbine blade structure to imitate the right-hand helical flow induced in the left ventricle. High-speed particle image velocimetry (PIV) measurements are used to map the flow evolution. A circular open orifice nozzle inserted in the valve plane as the reference configuration initially replaces the valve under investigation to understand the hemodynamic effects of the entered helical flow structure on the flow evolution in the aortic arch. Flow field analysis of the open orifice nozzle configuration illuminates the helical flow effectively delays the flow separation at the inner radius wall of the aortic arch. The comparison of the flow evolution for different MHVs shows that the BMHV works like a flow straightener which re-configures the helical flow pattern into three parallel jets (two side-orifice jets and the central orifice jet) while the TMHV preserves the helical flow structure and therefore prevent the flow separation at the inner radius wall of the aortic arch. Therefore the TMHV is of better hemodynamic performance and reduces the pressure loss.

Keywords: flow separation, helical aortic flow, mechanical heart valve, particle image velocimetry

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Authors: Kemi Olalekan Oduntan

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This paper was carried out in order to empirical, and descriptively analysis how interest rate and foreign exchange rate liberalization influence investment decision in Nigeria. The study spanned through the period of 1985 – 2014, secondary data were restricted to relevant variables such as investment (Proxy by Gross Fixed Capital Formation) saving rate, interest rate and foreign exchange rate. Theories and empirical literature from various scholars were reviews in the paper. Ordinary Least Square regression method was used for the analysis of data collection. The result of the regression was critically interpreted and discussed. It was discovered for empirical finding that tax investment decision in Nigeria is highly at sensitive rate. Hence, all the alternative hypotheses were accepted while the respective null hypotheses were rejected as a result of interest rate and foreign exchange has significant effect on investment in Nigeria. Therefore, impact of interest rate and foreign exchange rate on the state of investment in the economy cannot be over emphasized.

Keywords: interest rate, foreign exchange liberalization, investment decision, economic growth

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Authors: Min Zhou, Kaixuan Lin, Yaping Huang

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In this paper, the industrial space of metropolitan area in Wuhan is taken as a sample. First of all, it puts forward that the structure of service economy, circle gradient relocation and high degree of regional collaboration are the rules of industrial spatial development in the modern world cities. Secondly, using the economic statistics and land use vector data (1993, 2004, 2010, and 2013) of Wuhan, it analyzes the present situation of industry development and the characteristics of industrial space layout from three aspects of the industrial economic structure, industrial layout, and industrial regional synergy. Then, based on the industrial development regularity of world cities, it puts forward to construct the industrial spatial level of ‘complex industrial concentration area + modular industry unit’ and the industrial spatial structure of ‘13525’. Finally, it comes up with the optimization tactics of the industrial space’s transformation in the future under the background of new economic era.

Keywords: big city of metropolitan area, industrial space, characteristics, layout, strategy

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Authors: Bhargavi G. Iyer, Ojaswi Bhagat

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It is often noted that the value of a novel idea lies in its successful implementation. However, successful implementation requires the nurturing and encouragement of innovation. Nascent competitors are a true representation of innovation in any given industry. A nascent competitor is an entity whose prospective innovation poses a future threat to an incumbent dominant competitor. While a nascent competitor benefits in several ways, it is also exposed significantly and is at greater risk of facing the brunt of exclusionary practises and abusive conduct by dominant incumbent competitors in the industry. This research paper aims to explore the risks and threats faced by nascent competitors and analyse the benefits they accrue as well as the advantages they proffer to the economy; through an analytical, critical study. In such competitive market environments, a rise of the acquisitions of nascent competitors by the incumbent dominants is observed. Therefore, this paper will examine the dynamics of nascent acquisition. Further, this paper hopes to specifically delve into the role of antitrust bodies in regulating nascent acquisition. This paper also aspires to deal with the question how to distinguish harmful from harmless acquisitions in order to facilitate ideal enforcement practice. This paper proposes mechanisms of scrutiny in order to ensure healthy market practises and efficient merger control in the context of nascent acquisitions. Taking into account the scope and nature of the topic, as well as the resources available and accessible, a combination of the methods of doctrinal research and analytical research were employed, utilising secondary sources in order to assess and analyse the subject of research. While legally evaluating the Killer Acquisition theory and the Nascent Potential Acquisition theory, this paper seeks to critically survey the precedents and instances of nascent acquisitions. In addition to affording a compendious account of the legislative framework and regulatory mechanisms in the United States, the United Kingdom, and the European Union; it hopes to suggest an internationally practicable legal foundation for domestic legislation and enforcement to adopt. This paper hopes to appreciate the complexities and uncertainties with respect to nascent acquisitions and attempts to suggest viable and plausible policy measures in antitrust law. It additionally attempts to examine the effects of such nascent acquisitions upon the consumer and the market economy. This paper weighs the argument of shifting the evidentiary burden on to the merging parties in order to improve merger control and regulation and expounds on its discovery of the strengths and weaknesses of the approach. It is posited that an effective combination of factual, legal, and economic analysis of both the acquired and acquiring companies possesses the potential to improve ex post and ex ante merger review outcomes involving nascent companies; thus, preventing anti-competitive practises. This paper concludes with an analysis of the possibility and feasibility of industry-specific identification of anti-competitive nascent acquisitions and implementation of measures accordingly.

Keywords: acquisition, antitrust law, exclusionary practises merger control, nascent competitor

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Authors: Ishay Wolf

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In this study, the financial position of pension actors in the market during the pension system transition toward a more funded capitalized scheme is explored, mainly via an option benefit model. This is enabled by not considering the economy as a single earning cohort. We analytically demonstrate a socio-economic anomaly in the funded pension system, which is in favor of high earning cohorts on at the expense of low earning cohorts. This anomaly is realized by a lack of insurance and exposure to financial and systemic risks. Furthermore, the anomaly might lead to pension re-reform back to unfunded scheme, mostly due to political pressure. We find that a minimum pension guarantee is a rebalance mechanism to this anomaly, which increases the probability to of the sustainable pension scheme. Specifically, we argue that implementing the guarantee with an intra-generational, risk-sharing mechanism is the most efficient way to reduce the effect of this abnormality. Moreover, we exhibit the convergence process toward implementing minimum pension guarantee in many countries which have capitalized their pension systems during the last three decades, particularly among Latin America and CEE countries.

Keywords: benefits, pension scheme, put option, social security

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Authors: Emma Pope, Demos Parapanos

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Rural tourism has become more obvious and prevalent, with tourists’ increasingly seeking authentic experiences. This movement accelerated post-Covid, putting destinations in danger of reaching levels of saturation called ‘overtourism’. Whereas the phenomenon of overtourism has been frequently discussed in the urban context by academics and practitioners over recent years, it has hardly been referred to in the context of rural tourism, where perhaps it is even more difficult to manage. Rural tourism was historically considered small-scale, marked by its traditional character and by having little impact on nature and rural society. The increasing number of rural areas experiencing overtourism, however, demonstrates the need for new approaches, especially as the impacts and enablers of overtourism are context specific. Cumbria, with approximately 47 million visitors each year, and 23,000 operational enterprises, is one of these rural areas experiencing overtourism in the UK. Using the county of Cumbria as an example, this paper aims to explore better planning and management in rural destinations by clustering the area into rural and ‘urban-rural’ tourism zones. To achieve the aim, this study uses secondary data from a variety of sources to identify variables relating to visitor economy development and demand. These data include census data relating to population and employment, tourism industry-specific data including tourism revenue, visitor activities, and accommodation stock, and big data sources such as Trip Advisor and All Trails. The combination of these data sources provides a breadth of tourism-related variables. The subsequent analysis of this data draws upon various validated models. For example, tourism and hospitality employment density, territorial tourism pressure, and accommodation density. In addition to these statistical calculations, other data are utilized to further understand the context of these zones, for example, tourist services, attractions, and activities. The data was imported into ARCGIS where the density of the different variables is visualized on maps. This study aims to provide an understanding of the geographical context of visitor economy development and tourist behavior in rural areas. The findings contribute to an understanding of the spatial dynamics of tourism within the region of Cumbria through the creation of thematized maps. Different zones of tourism industry clusters are identified, which include elements relating to attractions, enterprises, infrastructure, tourism employment and economic impact. These maps visualize hot and cold spots relating to a variety of tourism contexts. It is believed that the strategy used to provide a visual overview of tourism development and demand in Cumbria could provide a strategic tool for rural areas to better plan marketing opportunities and avoid overtourism. These findings can inform future sustainability policy and destination management strategies within the areas through an understanding of the processes behind the emergence of both hot and cold spots. It may mean that attract and disperse needs to be reviewed in terms of a strategic option. In other words, to use sector or zonal policies for the individual hot or cold areas with transitional zones dependent upon local economic, social and environmental factors.

Keywords: overtourism, rural tourism, sustainable tourism, tourism planning, tourism zones

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Authors: Sandiso Mahlala, Fulufhelo Netswera

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Anecdotes of corruption and clear-cut lines of patronage in political parties and the government are frequently featured in South African newspapers and news media. Such graft and favouritism have institutionalised themselves more and more, resulting in the phenomenon of governmental capture and the diversion of Covid-19 relief monies. In order to further their own interests, political elites and those working in the public and private sectors influenced government decisions in this way. This paper presents examples of state capture, Covid-19 corruption, and patronage, as well as how these have a negative impact on broader governance and society at large. The fact that such corruption and patronage are occurring at a time when the South African economy is stagnating is particularly troubling since it implies that more people are getting less and raises concerns about the country's future political stability. This article further examines how party patronage as one method by which political parties exploit the state. The conceptual nature of the study is supported by a survey of the relevant literature from a range of sources, such as government regulations, media excepts, and scholarly works.

Keywords: political corruption, political patronage, patronage, state capture, COVID-19, corruption, South Africa

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