Search results for: property investment

Authors: Dionysios Kakaroumpas, Jesseka Farago, Stephen Webber

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Athletes and spectators depend on the tennis ranking system to represent the truest caliber of athletic prowess; a careful look at the current ranking system though, reveals its main weakness: it undermines expectations of fans and players. Our study proposes several key changes to the existing ranking formula that provide a fair and accurate approach to measure player performance. The study proposes a modification of the system to value: participation, continued advancement, and overall achievement. The new ranking formula facilitates closing the trust gap, encouraging competition equality, engaging the fan base, attracting investment, and promoting tennis involvement worldwide. To probe the crux of our main contention we performed week-by-week comparisons between results procured from the current and proposed formulae. After performing this rigorous case-study of top players of each gender, the findings strongly indicated that there is identifiable inflation in the ranks and enhanced the conviction that the current system should be updated. The new system is accompanied by a web-based software package freely available to anyone involved or interested in tennis rankings. The software package is designed to automatically calculate new player rankings based on a responsive, multi-faceted formula that also generates projected point scenarios and provides separate rankings for the three different court surfaces. By taking a critical look at the current tennis ranking system with consideration to the perspective of fans, players, and businesses involved, an upgrade is in order for it to maintain the balance of trust between fans and the evaluation process. In closure, this proposed solution increases fair play competition, eliminates rank inflation, and better engages fans, players, and sponsors by bringing in a new era of professional tennis.

Keywords: measurement and evaluation, rules and regulations, sports management and marketing, tennis ranking system

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Authors: Robin V. Cupido

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Online dispute resolution has been identified in many countries as a viable alternative for resolving conflicts which have arisen in the so-called digital age. This system of dispute resolution is developing alongside the Internet, and as new types of transactions are made possible by our increased connectivity, new ways of resolving disputes must be explored. Developed nations, such as the United States of America and the European Union, have been involved in creating these online dispute resolution mechanisms from the outset, and currently have sophisticated systems in place to deal with conflicts arising in a number of different fields, such as e-commerce, domain name disputes, labour disputes and conflicts arising from family law. Specifically, in the field of e-commerce, the Internet’s borderless nature has served as a way to promote cross-border trade, and has created a global marketplace. Participation in this marketplace boosts a country’s economy, as new markets are now available, and consumers can transact from anywhere in the world. It would be especially advantageous for developing nations to be a part of this global marketplace, as it could stimulate much-needed investment in these nations, and encourage international co-operation and trade. However, for these types of transactions to proliferate, an effective system for resolving the inevitable disputes arising from such an increase in e-commerce is needed. Online dispute resolution scholarship and practice is flourishing in developed nations, and it is clear that the gap is widening between developed and developing nations in this regard. The potential for implementing online dispute resolution in developing countries has been discussed, but there are a number of obstacles that have thus far prevented its continued development. This paper aims to evaluate the various political, infrastructural and socio-economic challenges faced in developing nations, and to question how these have impacted the acceptance and development of online dispute resolution, scholarship and training of online dispute resolution practitioners and, ultimately, developing nations’ readiness to participate in cross-border e-commerce.

Keywords: developing countries, feasibility, online dispute resolution, progress

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Authors: Giap Pham Ngoc Tram, Tran Hong Quan, Tran Tieu Yen, Nguyen Phung Tien

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The use of natural ingredients to enhance the nutritional and sensory properties of food products has gained significant interest in recent years. This study focuses on the effect of Golden oyster mushroom powder (GOMP) on the physiochemical, antioxidative, and sensory properties of noodles. The aim of this study is to investigate the influence of GOMP on the nutritional, antioxidant, and sensory properties of noodles. The study determined the color, moisture, total ash, protein, total phenolic, flavonoid contents, water activity, and antioxidant activity of GOMP and noodles. The incorporation of GOMP at levels of 5-15% increased the ash, protein, flavonoid, and total phenolic contents of the noodles. It also enhanced their antioxidant activities, as evidenced by improved DPPH radical scavenging activity and metal chelating activity. However, the incorporation of GOMP resulted in a decrease in the L* and b* values of the noodles. Furthermore, the GOMP-enriched noodles exhibited a lower cutting force compared to the control. This study highlights the potential of GOMP as a nutritional and antioxidant ingredient in noodle preparation. It adds to the existing literature by providing evidence of the positive effects of GOMP on the nutritional and functional properties of noodles. The researchers collected data on the physiochemical properties, nutritional contents, and antioxidant activities of GOMP and noodles. Statistical analysis was then performed to assess the differences between the control and GOMP-enriched noodles. The results of this study demonstrate that the inclusion of GOMP at the amount of 5-15% can increase the nutritional and antioxidant properties of noodles without significantly impacting sensory attributes.

Keywords: oyster mushroom, noodles, antioxidant activity, phytochemical, sensory property

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Authors: Swati Sundararajan, Asit B. Samui, Prashant S. Kulkarni

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Polymeric ionic liquids combine the properties of ionic liquids and polymers into a single material which has gained massive interest in the recent years. These ionic liquids offer several advantages such as high phase change enthalpy, wide temperature range, chemical and thermal stability, non-volatility and the ability to make them task-specific. Separation of CO2 is an area of critical importance due to the concerns over greenhouse gasses leading to global warming. Thermal energy storage materials, also known as phase change materials absorb latent heat during fusion process and release the absorbed energy to the surrounding environment during crystallization. These materials retain this property over a number of cycles and therefore, are useful for bridging the gap between energy requirement and use. In an effort to develop materials, which will help in minimizing the growing energy demand and environmental concerns, a series of dicationic poly(ethylene glycol) based polymeric ionic liquids were synthesized. One part of an acrylate of poly(ethylene glycol) was reacted with imidazolium quarternizing agent and the second part was reacted with triazolium quarternizing agent. These two different monomers were then copolymerized to prepare dicationic polymeric ionic liquid. These materials were characterized for solid-liquid phase transition and the enthalpy by using differential scanning calorimetry. The CO2 capture studies were performed on a fabricated setup with varying pressure range from 1-20 atm. The findings regarding the prepared materials, having potential dual applications in the fields of thermal energy storage and CO2 capture, will be discussed in the presentation.

Keywords: CO2 capture, phase change materials, polyethylene glycol, polymeric ionic liquids, thermal energy storage

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Authors: Jonathan J. Burson

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With the rise of virtually costless, mobile-based trading platforms, stock market trading activity has increased significantly over the past decade, particularly for the millennial generation. This increased stock market attention, combined with the recent market turmoil due to the economic upset caused by COVID-19, make the topics of market-timing and forecasting particularly relevant. While the overall stock market saw an unprecedented, historically-long bull market from March 2009 to February 2020, the end of that bull market reignited a search by investors for a way to reduce risk and increase return. Similar searches for outperformance occurred in the early, and late 2000’s as the Dotcom bubble burst and the Great Recession led to years of negative returns for mean-variance, index investors. Extensive research has been conducted on fundamental analysis, technical analysis, macroeconomic indicators, microeconomic indicators, and other techniques—all using different methodologies and investment periods—in pursuit of higher returns with lower risk. The enormous variety of timeframes, data, and methodologies used by the diverse forecasting methods makes it difficult to compare the outcome of each method directly to other methods. This paper establishes a process to evaluate the market-timing methods in an apples-to-apples manner based on simplicity, performance, and feasibility. Preliminary findings show that certain technical analysis models provide a higher return with lower risk when compared to the buy-and-hold method and to other market-timing strategies. Furthermore, technical analysis models tend to be easier for individual investors both in terms of acquiring the data and in analyzing it, making technical analysis-based market-timing methods the preferred choice for retail investors.

Keywords: buy-and-hold, forecast, market-timing, probit, technical analysis

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Authors: Niranjan Das

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‘Geographical indication’ is a sign which is used on products that have a specific geographical origin and possess qualities or a reputation that are due to that origin. Geographical Indication is primarily granted to agricultural, natural, manufactured, handicrafts originating from a definite geographical territory. It is defined in Article 22(1) of the World Trade Organization's (WTO) 1995 Agreement on ‘Trade-Related Aspects of Intellectual Property Rights (TRIPS)’. Assam is literally a ‘Silk country’ where silk culture is rooted in the rural life and culture of Assamese people. This is the only state in India and the world where Muga silk (Antheraea assamensis) is grown. Out of the total production of India’s Muga silk, Assam has the credit of being the sole producer of this 100 percent output, and thus occupies a unique position in the sericulture map of the world. Muga production has been an effective means for generating gainful employment in rural Assam and it has enormous potential in the context of building the rural economy and generating livelihood of this region. Muga, the unique golden-yellow silk of Assam was granted the ‘Geographical Indication (GI)’ registration in 2007. It is the first item from the state of Assam to obtain the GI tag. Besides manufacturing of Muga Silk cloths, the industry is also giving employment to thousands of people, and the silk industry is playing a leading role in the economy of the state. As Brahmaputra Valley is also known for tourist destination, tourists are visiting the valley every year and now the Muga Silk has reached each corner of the country and also in the other parts of the world. This paper tries to emphasizes how the Geographical Indication tag is protecting the traditional right of the Muga Silk of Assam as it has been practised by the Assamese people since times immemorial.

Keywords: Geographical Indication, environment, Muga silk, traditional right and livelihood

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Authors: Zachary Bolo Awino

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The need to gain and sustain a competitive advantage is overwhelming for businesses, especially now with cut throat competition. Innovation has been suggested as one way of gaining the advantage sustainably. But innovation can only happen within certain enabling environment and cultures. This study had one hypothesis: that there is no relationship between innovation and performance. This research was a cross sectional survey in which variables of interest are not controlled or manipulated. The cross sectional survey design is also appropriate for this study as it improves accuracy in generalizing findings, since it involves detailed study of a unit. Also known as one shot study, this design enhances uniform data collection and comparison across respondents. The population of the study was the 55 publicly quoted corporations in the Nairobi Securities Exchange (NSE) as at October 2013.The number was initially envisaged to be 60 but 5 firms were delisted or suspended during the year, hence leaving 55 firms as the population of study. The rationale for the choice for these firms is because they cut across the key economic sectors in Kenyan economy which include agriculture, commercial and services, manufacturing, finance and investment. This was a census survey and targeted all the firms listed at the Nairobi Securities Exchange as of October 2013. The primary data for the study was collected through the use of a structured questionnaire. A five point type Likert scale ranging from 1 - denoting to a less event to 5 - denoting to a greater extent was used. Respondents were from senior management of NSE. From the analyses, the study established that there was a strong positive relationship between innovation and performance, and organization innovation significantly contributes to employee engagement. Also there was a moderate positive relationship between innovation and performance. The study drew expressions of interrelations between various variables, offered generalization of understanding and meaning of these relationships, thus expanding the frontiers of knowledge both theoretical and practical with respect to innovation and firm performance. Major conclusion in this study was that there is a positive strong relationship between innovation and major measures of firm performance.

Keywords: emperical, innovation, NSE, organizations, performance

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Authors: Saravanan Govindaraju, Kyusik Yun

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The purpose of this study is to develop the chitosan doped curcumin gold cluster nanofiber for wound healing and skin cancer drug delivery applications. Chitosan is a typical marine polysaccharide composed of glucosamine and n-acetyl glucosamine biodegradable and biocompatible polymer. Curcumin is a natural bioactive molecule obtained from Curcuma longo, it mostly occurs in some Asian countries like India and China. It has naturally antioxidant, antimicrobial, wound healing and anticancer property. Due to this advantage, we prepared a combination of natural polymer chitosan with Curcumin and gold nanocluster nanofiber (CH-CUR-AuNCs nanofibers). The prepared nanofiber was characterized by using Fourier transform infrared spectroscopy (FT-IR), and scanning electron microscopy (SEM). Antibacterial studies were performed with E.coli and S.aureus. Antioxidant assay, drug release test, and cytotoxicity will be evaluated. Prepared nanofiber emits low intensity of red fluorescent. The FTIR confirm the presence of chitosan and Curcumin in the nanofiber. In vitro study clearly shows the antibacterial activity against the gram negative and gram positive bacteria. Particularly, synthesised nanofibers provide better antibacterial activity against gram negative than gram positive. Cytotoxicity study also provides better killing rate in cancer cell, biocompatible with normal cell. Prepared CH-CUR-AuNCs nanofibers provide the better killing rate to bacterial strains and cancer cells. Finally, prepared nanofiber can be possible to use for wound healing dressing, patch for skin cancer and other biomedical applications.

Keywords: curcumin, chitosan, gold clusters, nanofibers

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Authors: Beata Ślusarczyk, Sebastian Kot

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In subjective terms, Polish SME sector occupies a prominent position in the national economic development, in which planning of the management strategies should be primarily based on identifying and meeting the innovation needs. As a research sample, there is chosen a printing sector of industry. SMEs share in printing sector in Poland is estimated at the level of 81% of all enterprises. In recent years, the printing industry achieved one of the highest levels of EU support in Poland. There is a relatively high increase in the development of technological innovations in equipment and the associated significant increase in production capacity. It can be also noticed that on average, every third enterprise belonging to the printing industry has implemented innovations, but not all of them effected in better economic results. Therefore, the aim of this article is to evaluate the impact of the implementation of innovation projects financed from the EU funds for performance of SMEs in the printing industry. As the results of research of EU funds co-financing effects on the development of innovation in the printing industry, it was specified that examined SMEs prefer to implement product innovation to receive a grant to the project at a level between 40% to 60%, the remaining part of the investment is usually covered with equity. The most common type of innovation had indicated a single implementation, related only to the change in process, technology, or organization. The relationship between variables of the EU funds and management of innovative activities was verified. It has been observed that the identified variables arising from the support in a form of the EU funds had a positive effect on the level of earned revenue, the increase in margin and in increase in employment as well. It was confirmed that the implemented innovations supported by the European funds have a positive impact on the performance of the printing companies. Although there is a risk that due to the decreasing demand for printing services such a high level of funding the companies in this sector will significantly increase competition in the long term, that may also contribute to the economic problems of the enterprises belonging to the analyzed branch.

Keywords: innovations, SMEs, performance, results

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Authors: Zaharani Ahmad, Nor Hashimah Jalaluddin

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The aim of this paper is to examine and identify the issue of linguistic redundancy in two competing grammars of Malay, namely the school grammar and the corpus grammar. The former is a normative grammar which is formally and prescriptively taught in the classroom, whereas the latter is a descriptive grammar that is informally acquired and mastered by the students as native speakers of the language outside the classroom. Corpus grammar is depicted based on its actual used in natural occurring texts, as attested in the corpus. It is observed that the grammar taught in schools is incompatible with the grammar used in the corpus. For instance, a noun phrase containing nominal reduplicated form which denotes plurality (i.e. murid-murid ‘students’ which is derived from murid ‘student’) and a modifier categorized as quantifiers (i.e. semua ‘all’, seluruh ‘entire’, and kebanyakan ‘most’) is not acceptable in the school grammar because the formation (i.e. semua murid-murid ‘all the students’ kebanyakan pelajar-pelajar ‘most of the students’) is claimed to be redundant, and redundancy is prohibited in the grammar. Redundancy is generally construed as the property of speech and language by which more information is provided than is precisely required for the message to be understood, so that, if some information is omitted, the remaining information will still be sufficient for the message to be comprehended. Thus, the correct construction to be used is strictly the reduplicated form (i.e. murid-murid ‘students’) or the quantifier plus the root (i.e. semua murid ‘all the students’) with the intention that the grammatical meaning of plural is not repeated. Nevertheless, the so-called redundant form (i.e. kebanyakan pelajar-pelajar ‘most of the students’) is frequently used in the corpus grammar. This study shows that there are a number of redundant forms occur in the morphology of the language, particularly in affixation, reduplication and combination of both. Apparently, the so-called redundancy has grammatical and socio-cultural functions in communication that is to give emphasis and to stress the importance of the information delivered by the speakers or writers.

Keywords: corpus grammar, morphology, redundancy, school grammar

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Authors: B. D. Ravindra, A. K. Tyagi, C. Kathirvelan

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Some micronutrients in food (milk and meat), called ‘functional food components’ exert beneficial effects other than their routine nutrient function and conjugated linoleic acid (CLA) is an unsaturated fatty acid of ruminant origin, an example of this category. However, recently the fear of hypercholesterolemia due to saturated fats has led to the avoidance of dietary fat especially of animal origin despite its advantages such as lowering blood cholesterol, immuno-modulation and anticarcinogenic property due to the presence of CLA. The dietary increase of linoleic acid (LA) and linolenic acid (LNA) is one of the feeding strategies for increasing the CLA concentration in milk. Butyrivibrio fibrisolvens is the one potential rumen bacteria, which has high potential to isomerize LA to CLA. The study was conducted to screen the different oils for CLA production, selected based on their LA concentration. Butyrivibrio fibrisolvens culture (strain 49, MZ3, 30/10) were isolated from the rumen liquor of fistulated Buffalo (age ≈ 3 years; weight ≈ 250 kg) were used in in-vitro experiments, further work was carried out with three oils viz., sunflower, mustard and soybean oil at different concentration (0.05, 0.1, 0.15, 0.2, 0.25 and 0.3 g/L of media) to study the growth of bacteria and CLA production at different incubation period (0, 8, 12, 18, 24, 48, 72 h). In the present study, growth of the bacteria was decreased linearly with increase in concentration of three oils. However, highest decrease in growth was recorded at the concentration of 0.30 g of three oils per litre of the media. Highest CLA production was 51.96, 42.08 and 25.60 µg/ml at 0.25 g and it decreased to 48.19, 39.35 and 23.41 µg/ml at 0.3 g supplementation of sunflower, soybean, and mustard oil per litre of the media, respectively at 18 h incubation period. The present study indicates the Butyrivibrio fibrisolvens bacteria involves in the biohydrogenation process, and LA rich sunflower meal can be used to improve the CLA production in rumen and thereby increasing the CLA concentration of milk.

Keywords: Butyrivibrio fibrisolvens, CLA, fatty acids, sunflower oil

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Authors: Omogboyega Abe

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This paper examines the relationships between socio-economic inequalities of power, race, wealth engendered by corporate structure, and domination in postcolonial Africa. The paper further considers how land as an epitome of property and power for the locals paved the way for capitalist accumulation and control in the hands of transnational corporations. European colonization of Africa was contingent on settler colonialism, where properties, including land, were re-modified as extractive resources for primitive accumulation. In developing Africa's extractive resources, transnational corporations (TNCs) usurped states' structures and domination over native land. The usurpation/corporate capture that exists to date has led to remonstrations and arguably a counter-productive approach to development projects. In some communities, the mention of extractive companies triggers resentment. The paradigm of state capture and state autonomy is simply inadequate to either describe or resolve the play of forces or actors responsible for severe corporate-induced human rights violations in emerging markets. Moreover, even if the deadly working conditions are conceived as some regulatory failure, it is tough to tell whose failure. The analysis in this paper is that the complexity and ambiguity evidenced by the multiple regimes and political and economic forces shaping production, consumption, and distribution of socio-economic variables are not exceptional in emerging markets. Instead, the varied experience in developing countries provides a window for seeing what we face in understanding and theorizing the structure and operation of the global economic and regulatory order in general.

Keywords: colonial, emerging markets, business, human rights, corporation

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Authors: Rachel Y. Zhang, Christopher K. Anderson

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A critical aspect of revenue management is a firm’s ability to predict demand as a function of price. Historically hotels have used simple time series models (regression and/or pick-up based models) owing to the complexities of trying to build casual models of demands. Machine learning approaches are slowly attracting attention owing to their flexibility in modeling relationships. This study provides an overview of approaches to forecasting hospitality demand – focusing on the opportunities created by machine learning approaches, including K-Nearest-Neighbors, Support vector machine, Regression Tree, and Artificial Neural Network algorithms. The out-of-sample performances of above approaches to forecasting hotel demand are illustrated by using a proprietary sample of the market level (24 properties) transactional data for Las Vegas NV. Causal predictive models can be built and evaluated owing to the availability of market level (versus firm level) data. This research also compares and contrast model accuracy of firm-level models (i.e. predictive models for hotel A only using hotel A’s data) to models using market level data (prices, review scores, location, chain scale, etc… for all hotels within the market). The prospected models will be valuable for hotel revenue prediction given the basic characters of a hotel property or can be applied in performance evaluation for an existed hotel. The findings will unveil the features that play key roles in a hotel’s revenue performance, which would have considerable potential usefulness in both revenue prediction and evaluation.

Keywords: hotel revenue, k-nearest-neighbors, machine learning, neural network, prediction model, regression tree, support vector machine

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Authors: Dorina Rusu, Emil Ghiocel Ioanid, Marta Ursescu, Ana Maria Vlad, Mihaela Popescu

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During the last decades the cold plasma discharges made the subject of numerous studies concerning the applications in the cultural heritage field, especially concentrated on ecological and non-invasive aspect of these conservation procedures. The conservation treatment using cold plasma is based, on the one hand, on the well-known property of plasma discharges to inactivate the contaminant biological species and, on the other hand, on the surface cleaning effect. Moreover the plasma discharge produces the functionalization of the treated surface, allowing subsequent deposition of protective layers. The paper presents the behavior of printing inks on historical documents treated in cold RF plasma. Two types of printing inks were studied, namely red and black ink, used on a religious book published in 19 century. SEM-EDX analysis results in the identification of the two inks as carbon black ink (C presence in the EDX spectrum) and cinnabar based red ink (Hg and S lines in the spectrum), result confirmed by XRF analysis. The experiments have been performed on paper samples written with laboratory- made inks, of similar composition with the inks identified on historical documents. The samples were subjected to RF plasma discharge, operating in nitrogen gaseous medium, at 1.2 MHz frequency and low-pressure (0.5 mbar), performed in a self-designed equipment for the application of conservation treatments on naturally aged paper supports. The impact of plasma discharge on the inks has been evaluated by SEM, XRD and color analysis. The color analysis revealed a slight discoloration of cinnabar ink on the historical document. SEM and XRD analyses have been carried out in an attempt to elucidate the process responsable for color modification.

Keywords: RF plasma, printing inks, historical documents, surface cleaning effect

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Authors: Siqin Wang, Jonathan Corcoran, Yan Liu, Thomas Sigler

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Australia is a quintessentially immigrant nation with 28 percent of its residents being foreign-born. By 2011, People’s Republic of China (PRC) overtook the United Kingdom to become the largest source country in Australia. Significantly, the profile of PRC-born migrants has changed to mirror broader global shifts towards high-skilled labour, education-related, and investment-focussed migration, all of which reflect an increasing trend in the mobility of wealthy and/or educated cohorts. Together, these coalesce to form a more complex pattern of migrant settlement –both spatially and socio-economically. This paper focuses on the PRC-born migration, redresses these lacunae, with regard to the settlement outcomes of PRC migrants to Australia, with a particular focus on spatial evolution and residential mobility at both the metropolitan and national scales. By drawing on Census Data and migration Micro Datasets, the aim of this paper is to examine the shifting dynamics of PRC-born migrants in Australian capital cities to unveil their socioeconomic characteristics, residential patterns and change of spatial concentrations during their transition into the new host society. This paper finds out three general patterns in the residential evolution of PRC-born migrants depending on the size of capital cities where they settle down, as well as the association of socio-economic characters with the formation of enclaves. It also examines the residential mobility across states and cities from 2001 to 2011 indicating the rising status of median-size Australian capital cities for receiving PRC-born migrants. The paper concludes with a discussion of evidences for policy formation, facilitates the effective transition of PRC-born populations into the mainstream of host society and enhances social harmony to help Australia become a more successful multicultural nation.

Keywords: Australia, Chinese migrants, residential mobility, spatial evolution

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Authors: Walaa Diab, Baher Atlam, Nadia El Nimer

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Egypt faces many obvious economic challenges, and it is so clear that a real economic transformation is needed to address those problems, especially after the recent decisions of floating the Egyptian pound and the gradual subsidy cuts that are trying to meet the needed conditions to get the IMF support of (a £12bn loan) for its economic reform program. Following the post-2008 revival of the interest in the fiscal policy and its vital role in speeding up or slowing down the economic growth. Here comes the value of this paper as it seeks to analyze the macroeconomic effects of fiscal policy in Egypt by applying A Bayesian SVAR Approach. The study uses the Bayesian method because it includes the prior information and no relevant information is omitted and so it is well suited for rational, evidence-based decision-making. Since the study aims to define the effects of fiscal policy shocks in Egypt to help the decision-makers in determining the proper means to correct the structural problems in the Egyptian economy, it has to study the period of 1990s economic reform, but unfortunately; the available data is on an annual frequency. Thus, it uses annual time series to study the period 1991: 2005 And quarterly data over the period 2006–2016. It uses a set of six main variables includes government expenditure and net tax revenues as fiscal policy arms affecting real GDP, unemployment, inflation and the interest rate. The study also tries to assess the 'crowding out' effects by considering the effects of government spending and government revenue shocks on the composition of GDP, namely, on private consumption and private investment. Last but not least the study provides its policy implications regarding the needed role of fiscal policy in Egypt in the upcoming economic reform building on the results it concludes from the previous reform program.

Keywords: fiscal policy, government spending, structural vector autoregression, taxation

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Authors: Muhammad Arsalan

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The efficiency of a financial intermediation system is assessed by its ability to achieve allocative efficiency, asset transformation, and the subsequent economic development. Islamic Banking and Finance (IBF) was conceived to serve as an alternate financial intermediation system adherent to the injunctions of Islam. A critical appraisal of the state of contemporary IBF reveals that it neither fulfills the aspirations of Islamic rhetoric nor is efficient in terms of asset transformation and economic development. This paper is an intuitive pursuit to explore the economic rationale of established principles of IBF, and the reasons of the persistent divergence of IBF being accused of ruses and sophistry. Disentangling the varying viewpoints, the underdevelopment of IBF has been attributed to misinterpretation of Riba, which has been explicated through a narrow fiqhi and legally deterministic approach. It presents a critical account of how incorrect conceptualization of the key injunction on Riba, steered flawed institutionalization of an Islamic Financial intermediation system. It also emphasizes on the wrong interpretation of the ontological and epistemological sources of Islamic Law (primarily Riba), that explains the perennial economic underdevelopment of the Muslim world. Deeming ‘a collaborative and dynamic Ijtihad’ as the elixir, this paper insists on the exigency of redefining Riba, i.e., a definition that incorporates the modern modes of economic cooperation and the contemporary financial intermediation ecosystem. Finally, Riba has been articulated in an agency theoretic framework to eschew expropriation of wealth, and assure protection of property rights, aimed at realizing the twin goals of a) Shari’ah adherence in true spirit, b) financial and economic development of the Muslim world.

Keywords: agency theory, financial intermediation, Islamic banking and finance, ijtihad, economic development, Riba, information asymmetry

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Authors: P. Haldar, P. Ghosh, S. Ghoshdastidar, K. Kargupta

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In polymer electrolyte membrane fuel cells (PEMFC), the membrane electrode assembly (MEA) is consisting of two platinum coated carbon electrodes, sandwiched with one proton conducting phosphoric acid doped polymeric membrane. Due to low mechanical stability, flooding and fuel cell crossover, application of phosphoric acid in polymeric membrane is very critical. Phosphorous and silica based 3D inorganic gel gains the attention in the field of supercapacitors, fuel cells and metal hydrate batteries due to its thermally stable highly proton conductive behavior. Also as a large amount of water molecule and phosphoric acid can easily get trapped in Si-O-Si network cavities, it causes a prevention in the leaching out. In this study, we have performed molecular dynamics (MD) simulation and first principle calculations to understand the structural, electronics and electrochemical and morphological behavior of this inorganic gel at various P to Si ratios. We have used dipole-dipole interactions, H bonding, and van der Waals forces to study the main interactions between the molecules. A 'structure property-performance' mapping is initiated to determine optimum P to Si ratio for best proton conductivity. We have performed the MD simulations at various temperature to understand the temperature dependency on proton conductivity. The observed results will propose a model which fits well with experimental data and other literature values. We have also studied the mechanism behind proton conductivity. And finally we have proposed a structure for the gel paste with optimum P to Si ratio.

Keywords: first principle calculation, molecular dynamics simulation, phosphorous and silica based 3D inorganic gel, polymer electrolyte membrane fuel cells, proton conductivity

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Authors: Annur Suhadi, Haris B. Harahap, Zaim Arrosyidi, Epan, Darmapala

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Oilfields under waterflood often face the problem of plugging injectors either by internal filtration or external filter cake built up inside pore throats. The content of suspended solids shall be reduced to required level of filtration since corrective action of plugging is costly expensive. The performance of nutshell filters, where filtration takes place, is good using pecan and walnut shells. Candlenut shells were used instead of pecan and walnut shells since they were abundant in Indonesia, Malaysia, and East Africa. Physical and chemical properties of walnut, pecan, and candlenut shells were tested and the results were compared. Testing, using full-scale nutshell filters, was conducted to determine the oil content, turbidity, and suspended solid removal, which was based on designed flux rate. The performance of candlenut shells, which were deeply bedded in nutshell filters for filtration process, was monitored. Cleaned water outgoing nutshell filters had total suspended solids of 17 ppm, while oil content could be reduced to 15.1 ppm. Turbidity, using candlenut shells, was below the specification for injection water, which was less than 10 Nephelometric Turbidity Unit (NTU). Turbidity of water, outgoing nutshell filter, was ranged from 1.7-5.0 NTU at various dates of operation. Walnut, pecan, and candlenut shells had moisture content of 8.98 wt%, 10.95 wt%, and 9.95 wt%, respectively. The porosity of walnut, pecan, and candlenut shells was significantly affected by moisture content. Candlenut shells had property of toluene solubility of 7.68 wt%, which was much higher than walnut shells, reflecting more crude oil adsorption. The hardness of candlenut shells was 2.5-3 Mohs, which was close to walnut shells’ hardness. It was advantage to guarantee the cleaning filter cake by fluidization process during backwashing.

Keywords: candlenut shells, filtration, nutshell filter, pecan shells, walnut shells

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Authors: Zatil Athaillah, Anastasia Devi, Dian Muzdalifah, Wirasuwasti Nugrahani, Linar Udin

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During tempe fermentation, some chemical changes occurred and they contributed to sensory, appearance, and health benefits of soybeans. Many studies on health properties of tempe have specialized on their isoflavones. In this study, other components of tempe, particularly water soluble chemicals, was investigated for their biofunctionality. The study was focused on the ability to suppress MCF-7 breast cancer cell growth and antioxidant activity, as expressed by DPPH radical scavenging activity, total phenols and total flavonoids, of the water extracts. Fermentation time of tempe was extended up to 120 hr to increase the possibility to find the functional components. Extraction yield and soluble nitrogen content were also quantified as accompanying data. Our findings suggested that yield of water extraction of tempe increased as fermentation was extended up to 120 hr, except for a slight decrease at 72 hr. Water extracts of tempe showed inhibition of MCF-7 breast cancer cell growth, as shown by lower IC50 values when compared to control (unfermented soybeans). Among the varied fermentation timescales, 60-hr period showed the highest activity (IC50 of 8.7 ± 4.95 µg/ml). The anticancer activity of extracts obtained from different fermentation time was positively correlated with total soluble nitrogens, but less relevant with antioxidant data. During 48-72 hr fermentation, at which cancer suppression activity was significant, the antioxidant properties from the three assays were not higher than control. These findings indicated that water extracts of tempe from extended fermentation could inhibit breast cancer cell growth but further study to determine the mechanism and compounds that play important role in the activity should be conducted.

Keywords: tempe, anticancer, antioxidant, phenolic compounds

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Authors: Bahram Fathi, Karim Alizadeh, Azam Mohammadbagheri

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The aim of this paper is to investigate the role of oil price shocks in explaining business cycles in Iran using a dynamic stochastic general equilibrium approach. This model incorporates both productivity and oil revenue shocks. The results indicate that productivity shocks are relatively more important to business cycles than oil shocks. The model with two shocks produces different values for volatility, but these values have the same ranking as that of the actual data for most variables. In addition, the actual data are close to the ratio of standard deviations to the output obtained from the model with two shocks. The results indicate that productivity shocks are relatively more important to business cycles than the oil shocks. The model with only a productivity shock produces the most similar figures in term of volatility magnitude to that of the actual data. Next, we use the Impulse Response Functions (IRF) to evaluate the capability of the model. The IRF shows no effect of an oil shock on the capital stocks and on labor hours, which is a feature of the model. When the log-linearized system of equations is solved numerically, investment and labor hours were not found to be functions of the oil shock. This research recommends using different techniques to compare the model’s robustness. One method by which to do this is to have all decision variables as a function of the oil shock by inducing the stationary to the model differently. Another method is to impose a bond adjustment cost. This study intends to fill that gap. To achieve this objective, we derive a DSGE model that allows for the world oil price and productivity shocks. Second, we calibrate the model to the Iran economy. Next, we compare the moments from the theoretical model with both single and multiple shocks with that obtained from the actual data to see the extent to which business cycles in Iran can be explained by total oil revenue shock. Then, we use an impulse response function to evaluate the role of world oil price shocks. Finally, I present implications of the findings and interpretations in accordance with economic theory.

Keywords: oil price, shocks, dynamic stochastic general equilibrium, Iran

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Authors: Elsa Makue Nguuffo, Esther Del Florence Moni Ndedi, Jacky Njiki Bikoï, Jean Paul Assam Assam, Maximilienne Ascension Nyegue

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Aims: The present study aims to evaluate the kinetic parameters of essential oils (EOs) and combinations fromDrypetes gossweileri Stem Bark, Ocimum gratissimum leaves, Cymbopogon citratusleaves after evaluation of their antibacterial activityonmultidrug-resistant strains ofShigella. Material and Methods:fiveclinical strains of Shigellaisolated from patients with diarrhoeaincluding Shigella flexneri, and 4 otherstrains of Shigella sppwere selected. Their antibiotic profile was established using agar test diffusion with seven antibiotics belonging to seven classes.EOs were extracted from each plant using hydrodistillation process. The activity of Ciprofloxacin®, OEs, and their combination formulatedinthe followingratios(w/w/w): C1: 1/1/1; C2: 2/1/1; C3: 1/2/1, C4:1/1/2 was evaluated microdilution assay. The various interactions of OEs in the different combinations were determined then the OE and the most active combination were retained to determine their kinetic parameters on S. flexneri. Results: Antibiotic susceptibility tests revealed that most Shigella isolates (n = 4) were resistant to six antibiotics tested. Ciprofloxacin (40%), Nalidixic acid (60%), Tetracycline (80%), Amoxicillin (100%), Cefotaxime (80%), Erythromycin (100%), and Cotrimoxazole (80%) were the profiles found in the different strains of Shigella. About the antibacterial activity of OEs, Drypetes gossweileriOE and C2 combination had shown a higher Shigellicide property with a Minimal Inhibitory Concentration(MIC) respectivelyranging from 0.078 mg/mL to 0.312 mg/mL and 0.012 to 1.562 mg/mL. Combinations of OEs showed various interactions whose synergistic effects were mostly encountered. The best deactivation was obtained by the combination C2 at 16 MIC withb= 1.962. Conclusion: the susceptibility of Shigella to OEs and their combinations justifies their use in traditional medicine in the treatment of shigellosis.

Keywords: shigella, multidrug-resistant, EOs, kinetic

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Authors: Serges Mendomo Meye, Li Guowei, Shen Zhenzhong

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Earthquake is one of the main loads threatening dam safety. Once the dam is damaged, it will bring huge losses of life and property to the country and people. Therefore, it is very important to research the seismic safety of the dam. Due to the complex foundation conditions, high fortification intensity, and high scientific and technological content, it is necessary to adopt reasonable methods to evaluate the seismic safety performance of concrete arch dams built and under construction in strong earthquake areas. Structural seismic vulnerability analysis can predict the probability of structural failure at all levels under different intensity earthquakes, which can provide a scientific basis for reasonable seismic safety evaluation and decision-making. In this paper, the response surface method (RSM) is applied to the seismic vulnerability analysis of arch dams, which improves the efficiency of vulnerability analysis. Based on the central composite test design method, the material-seismic intensity samples are established. The response surface model (RSM) with arch crown displacement as performance index is obtained by finite element (FE) calculation of the samples, and then the accuracy of the response surface model (RSM) is verified. To obtain the seismic vulnerability curves, the seismic intensity measure ??(?1) is chosen to be 0.1~1.2g, with an interval of 0.1g and a total of 12 intensity levels. For each seismic intensity level, the arch crown displacement corresponding to 100 sets of different material samples can be calculated by algebraic operation of the response surface model (RSM), which avoids 1200 times of nonlinear dynamic calculation of arch dam; thus, the efficiency of vulnerability analysis is improved greatly.

Keywords: high concrete arch dam, performance index, response surface method, seismic vulnerability analysis, vector-valued intensity measure

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Authors: Saurabh Basu, Sudin Ganguly

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Conductance in graphene nanoribbons (GNR) in presence of magnetic (for example, Iron) and non-magnetic (for example, Gold) adatoms are explored theoretically within a Kane-Mele model for their possible spintronic applications and topologically non-trivial properties. In our work, we have considered the magnetic adatoms to induce a Rashba spin-orbit coupling (RSOC) and an exchange bias field, while the non-magnetic ones induce an RSOC and an intrinsic spin-orbit (SO) coupling. Even though RSOC is present in both, they, however, represent very different physical situations, where the magnetic adatoms do not preserve the time reversal symmetry, while the non-magnetic case does. This has important implications on the topological properties. For example, the non-magnetic adatoms, for moderately strong values of SO, the GNR denotes a quantum spin Hall insulator as evident from a 2e²/h plateau in the longitudinal conductance and presence of distinct conducting edge states with an insulating bulk. Since the edge states are protected by time reversal symmetry, the magnetic adatoms in GNR yield trivial insulators and do not possess any non-trivial topological property. However, they have greater utility than the non-magnetic adatoms from the point of view of spintronic applications. Owing to the broken spatial symmetry induced by the presence of adatoms of either type, all the x, y and z components of the spin-polarized conductance become non-zero (only the y-component survives in pristine Graphene owing to a mirror symmetry present there) and hence become suitable for spintronic applications. However, the values of the spin polarized conductances are at least two orders of magnitude larger in the case of magnetic adatoms than their non-magnetic counterpart, thereby ensuring more efficient spintronic applications. Further the applications are tunable by altering the adatom densities.

Keywords: magnetic and non-magnetic adatoms, quantum spin hall phase, spintronic applications, spin polarized conductance, time reversal symmetry

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Authors: Samitharathana R. Wadigala

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The peace will not be established until the self-consciousness would reveal in the human beings. In this nuclear age, the establishment of a lasting peace on the earth represents the primary condition for the preservation of human civilization and survival of human beings. Nothing perhaps is so important and indispensable as the achievement and maintenance of peace in the modern world today. Peace in today’s world implies much more than the mere absence of war and violence. In the interdependent world of today the United Nations needs to be representative of the modern world and democratic in its functioning because it came into existence to save the generations from the scourge of war and conflict. Buddhism is the religion of peaceful co-existence and philosophy of enlightenment. Violence and conflict from the perspective of the Buddhist theory of interdependent origination (Paṭiccasamuppāda) are same with everything else in the world a product of causes and conditions. Buddhism is totally compatible with the congenial and peaceful global order. The canonical literature, doctrines, and philosophy of Buddhism are the best suited for inter-faith dialogue, harmony, and universal peace. Even today Buddhism can resurrect the universal brotherhood, peaceful co-existence and harmonious surroundings in the comity of nations. With its increasing vitality in regions around the world, many people today turn to Buddhism for relief and guidance at the time when peace seems to be a deferred dream more than ever. From a Buddhist point of view the roots of all unwholesome actions (Conflict) i. e. greed, hatred and delusion are viewed as the root cause of all human conflicts. Conflict often emanates from attachment to material things: pleasures, property, territory, wealth, economic dominance or political superiority. Buddhism has some particularly rich resources for deployment in dissolving conflict. Buddhism addresses the Buddhist perspective on the causes of conflict and ways to resolve conflict to realize world peace. The world has enough to satisfy every body’s needs but not every body’s greed.

Keywords: Buddhism, conflict-violence, peace, self-consciousness

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Authors: Lanre Oluwafemi Akinyemi

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The reduction of limestone to cement in Nigeria is expensive and requires huge amounts of energy. This significantly affects the cost of cement. Concrete is heavy: a cubic foot of it weighs about 150 lbs. and a cubic yard is about 4000 lbs. Thus a ready-mix truck with 9 cubic yards is carrying 36,000 lbs excluding the weight of the truck itself, thereby accumulating cost for also manufacturers. Therein lies the need to find a substitute for cement by using the polystyrene paste that benefits both the manufactures and the consumers. Polystyrene Paste Constructional Cement (PPCC), a patented material obtained by dissolving Waste EPS in volatile organic solvent, has recently been identified as a suitable binder/cement for construction and building material production. This paper illustrates the procedures of a test experiment undertaken to determine the splitting tensile strength of PPCC mortar compared to that of OPC (Ordinary Portland Cement). Expanded polystyrene was dissolved in gasoline to form a paste referred to as Polystyrene Paste Constructional Cement (PPCC). Mortars of mix ratios 1:4, 1:5, 1:6, 1:7 (PPCC: fine aggregate) batched by volume were used to produce 50mm x 100mm cylindrical PPCC mortar splitting tensile strength specimens. The control experiment was done by creating another series of cylindrical OPC mortar splitting tensile strength specimens following the same mix ratio used earlier. The PPCC cylindrical splitting tensile strength specimens were left to air-set, and the ones made with Ordinary Portland Cement (OPC) were demoded after 24 hours and cured in water. The cylindrical PPCC splitting tensile strength specimens were tested at 28 days and compared with those of the Ordinary Portland cement splitting tensile strength specimens. The result shows that hence for this two mixes, PPCC exhibits a better binding property than the OPC. With this my new invention I recommend the use of PPCC as a substitute for a Portland cement.

Keywords: polystyrene paste, Portland cement, construction, mortar

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Authors: M. Shahzad Kamal, Abdullah S. Sultan, Usamah A. Al-Mubaiyedh, Ibnelwaleed A. Hussein

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Oil recovery from reservoirs using conventional oil recovery techniques like water flooding is less than 20%. Enhanced oil recovery (EOR) techniques are applied to recover additional oil. Surfactant-polymer flooding is a promising EOR technique used to recover residual oil from reservoirs. Water soluble polymers are used to increase the viscosity of displacing fluids. Surfactants increase the capillary number by reducing the interfacial tension between oil and displacing fluid. Hydrolyzed polyacrylamide (HPAM) is widely used in polymer flooding applications due to its low cost and other desirable properties. HPAM works well in low-temperature and low salinity-environment. In the presence of salts HPAM viscosity decrease due to charge screening effect and it can precipitate at high temperatures in the presence of salts. Various strategies have been adopted to extend the application of water soluble polymers to high-temperature high-salinity (HTHS) reservoir. These include addition of monomers to acrylamide chain that can protect it against thermal hydrolysis. In this work, rheological properties of various water soluble polymers were investigated to find out suitable polymer and surfactant-polymer systems for HTHS reservoirs. Polymer concentration ranged from 0.1 to 1 % (w/v). Effect of temperature, salinity and polymer concentration was investigated using both steady shear and dynamic measurements. Acrylamido tertiary butyl sulfonate based copolymer showed better performance under HTHS conditions compared to HPAM. Moreover, thermoviscosifying polymer showed excellent rheological properties and increase in the viscosity was observed with increase temperature. This property is highly desirable for EOR application.

Keywords: rheology, polyacrylamide, salinity, enhanced oil recovery, polymer flooding

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Authors: Khaled M. Nabil

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This paper introduces the Nested Vortexes conception of the universe structure and interprets all the physical phenomena according this conception. The paper first reviews recent physics theories, either in microscopic scale or macroscopic scale, to collect evidence that the space is not empty. But, these theories describe the property of the space medium without determining its structure. Determining the structure of space medium is essential to understand the mechanism that leads to its properties. Without determining the space medium structure, many phenomena; such as electric and magnetic fields, gravity, or wave-particle duality remain uninterpreted. Thus, this paper introduces a conception about the structure of the universe. It assumes that the universe is a medium of ultra-tiny homogeneous particles which are still undiscovered. Like any medium with certain movements, possibly because of a great asymmetric explosion, vortexes have occurred. A vortex condenses the ultra-tiny particles in its center forming a bigger particle, the bigger particles, in turn, could be trapped in a bigger vortex and condense in its center forming a much bigger particle and so on. This conception describes galaxies, stars, protons as particles at different levels. Existing of the particle’s vortexes make the consistency of the speed of light postulate is not true. This conception shows that the vortex motion dynamic agrees with the motion of all the universe particles at any level. An experiment has been carried out to detect the orbiting effect of aggregated vortexes of aligned atoms of a permanent magnet. Based on the described particle’s structure, the gravity force of a particle and attraction between particles as well as charge, electric and magnetic fields and quantum mechanics characteristics are interpreted. All augmented physics phenomena are solved.

Keywords: astrophysics, cosmology, particles’ structure model, particles’ forces

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Authors: Rowen Naicker, Dhiren Allopi

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One of the major problems the Port of Durban is experiencing is addressing shallow spots aggravated by megaships that berth. In the recent years, the vessels that call at the Port have increased in size which calls for draughts that are much deeper. For this reason, these larger vessels can only berth under high tide to avoid the risk of running aground. In addition to this, the ships cannot sail in fully laden which does not make it feasible for ship owners. Further during the berthing materials are displaced from the seabed which result in shallow spots being developed. The permitted draft (under-keel allowance) for the Durban Container Terminal (DCT) is currently 12.2 m. Transnet National Ports Authority (TNPA) are currently investing in a dredging fleet worth almost two billion rand. One of the highlights of this investment would be the building of grab hopper dredger that would be dedicated to the Port by 2017. TNPA are trying various techniques to dissolve the reduction of draughts by implementing dredging maintenance projects but is this sufficient? The ideal resolution would be the deepening and widening of the berths. Plans for this project is in place, but the implementation process is a matter of urgency. The intention of this project will be to accommodate three big vessels rather than two which in turn will improve the turnaround time in the port. The berthing will then no longer depend on high tide to avoid ships running aground. The aim of this paper is to prove the implementation of deepening and widening of the Port of Durban is a matter of urgency. If the plan to deepen and widen the berths at DCT is delayed it will mean a loss of business for the South African economy. If larger vessels cannot be accommodated in the Port of Durban, it will bypass the busiest container handling facility in the Southern hemisphere. Shipping companies are compelled to use larger ships as opposed to smaller vessels to lower port and fuel costs. A delay in the expansion of DCT could also result in an escalation of costs.

Keywords: DCT, deepening, berth, port

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Authors: Nasim Abuali Galehdari, Thomas J. Ryan, Ajit D. Kelkar

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In recent years, nanotechnology has played an important role in the design of an efficient radiation shielding polymeric composites. It is well known that, high loading of nanomaterials with radiation absorption properties can enhance the radiation attenuation efficiency of shielding structures. However, due to difficulties in dispersion of nanomaterials into polymer matrices, there has been a limitation in higher loading percentages of nanoparticles in the polymer matrix. Therefore, the objective of the present work is to provide a methodology to fabricate and then to characterize the functionally graded radiation shielding structures, which can provide an efficient radiation absorption property along with good structural integrity. Sandwich structures composed of Ultra High Molecular Weight Polyethylene (UHMWPE) fabric as face sheets and functionally graded epoxy nanocomposite as core material were fabricated. A method to fabricate a functionally graded core panel with controllable gradient dispersion of nanoparticles is discussed. In order to optimize the design of functionally graded sandwich composites and to analyze the stress distribution throughout the sandwich composite thickness, a finite element method was used. The sandwich panels were discretized using 3-Dimensional 8 nodded brick elements. Classical laminate analysis in conjunction with simplified micromechanics equations were used to obtain the properties of the face sheets. The presented finite element model would provide insight into deformation and damage mechanics of the functionally graded sandwich composites from the structural point of view.

Keywords: nanotechnology, functionally graded material, radiation shielding, sandwich composites, finite element method

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