Search results for: islamic capital markets

Authors: Levan Sabauri

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In this paper, we discuss the deteriorated standing of engineering companies, some of the reasons behind it and the problems facing engineering enterprises during the financial crisis. We show the part that financial analysis plays in the detection of the main factors affecting the standing of a company, classify internal problems and the reasons influencing efficiency thereof. The publication contains the analysis of municipal engineering companies in post-Soviet transitional economies. In the wake of the 2008 world financial crisis the issue became even more poignant. It should be said though that even before the problem had been no less acute for some post-Soviet states caught up in a lengthy transitional period. The paper highlights shortcomings in the management of transportation companies, with new, more appropriate methods suggested. In analyzing the financial stability of a company, three elements need to be considered: current assets, investment policy and structural management of the funding sources leveraging the stability, should be focused on. Inappropriate management of the three may create certain financial problems, with timely and accurate detection thereof being an issue in terms of improved standing of an enterprise. In this connection, the publication contains a diagram reflecting the reasons behind the deteriorated financial standing of a company, as well as a flow chart thereof. The main reasons behind low profitability are also discussed.

Keywords: efficiency, financial management, financial analysis funding structure, financial sustainability, investment policy, profitability, solvency, working capital

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Authors: Yujie Wei

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Twitter uses a variety of narrative methods (e.g., messages, featured videos, music, and actual events) to strengthen its cultivation effect. Consumers are receiving mass-produced brand stores or images made by brand managers according to strict market specifications. Drawing on the cultivation theory, this quantitative research investigates how following a brand on Twitter for 12 weeks can cultivate their attitude toward the brand and influence their purchase intentions. We conducted three field experiments on Twitter to test the cultivation effects of following a brand for 12 weeks on consumer attitude toward the followed brand. The cultivation effects were measured by comparing the changes in consumer attitudes before and after they have followed a brand over time. The findings of our experiments suggest that when consumers are exposed to a brand’s stable, pervasive, and recurrent tweets on Twitter for 12 weeks, their attitude toward a brand can be significantly changed, which confirms the cultivating effects on consumer attitude. Also, the results indicate that branding activities on Twitter, when properly implemented, can be very effective in changing consumer attitudes toward a brand, increasing the purchase intentions, and increasing their willingness to spread the word-of-mouth for the brand on social media. The cultivation effects are moderated by brand type and consumer age. The research provides three major marketing implications. First, Twitter marketers should create unique content to engage their brand followers to change their brand attitude through steady, cumulative exposure to the branding activities on Twitter. Second, there is a significant moderating effect of brand type on the cultivation effects, so Twitter marketers should align their branding content with the brand type to better meet the needs and wants of consumers for different types of brands. Finally, Twitter marketers should adapt their tweeting strategies according to the media consumption preferences of different age groups of their target markets. This empirical research proves that content is king.

Keywords: tweeting, cultivation theory, consumer brand attitude, purchase intentions, word-of-mouth

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Authors: Keivan Amirbagheri, Ana Nuñez-Carballosa, Laura Guitart-Tarrés

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Over the last couple of decades, enterprises have begun to accept the need for environmental management and have started to implement environmental management programs to compete in the markets. The implementation of green supply chain management (GSCM) practices can provide valuable opportunities to improve firm performance. Through the prior investigations, the ascending tendency of the numbers of published papers in the field of green supply chain management practices has been reported and it shows the high interest level of the authors to work in this area. Besides, there is still a gap to study more about the relationship of GSCM to the organizational performance (OP). So, the purpose of this research is to study the practices related to green supply chain management that influence the results of the company as an organizational performance. Based on our previous works, from one part we have collected these GSCM practices (planning, operational, and communication practices) and classified them through conducting some literature reviews to analyze their effects on the OP’s factors (balanced scorecard’s perspectives). To do so we design a case study methodology through semi-structured interviews and secondary data from some multinational well-known companies based in Spain. The cases have been selected with the criterion of trying to collect members of the entire supply chain to have a vision as global as possible. The results report the considerable influence of green supply chain management practices on the organizational performance of the companies of the study. In addition, they represent that the implementation of green supply chain management practices especially in a long-term perspective can be economically justified. From the point of view of the personal, they feel better about being a member of this type of company that has been structured on environmental issues. Also, for these companies, the image that has been created by the implementation of these practices helps them to facilitate their marketing program.

Keywords: green supply chain management, organizational performance, case study, Spain

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Authors: Mohamed Moheyeldin Mahmoud

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Various Islamic, Coptic and Jewish archeological places are located in many Egyptian neighborhoods such as Alsayeda zainab, Aldarb Alahmar, Algammaleya and many other in which they are daily exposed to a great traffic intensity causing vibrations. Vibrations could be stated as one of the most important challenges that face the archeological buildings and threaten their survival. The impact of vibrations varies according to the nature of the soil, nature and building conditions, how far the source of vibration is and the period of exposure. Traffic vibrations could be also stated as one of the most common types of vibrations having the greatest impact on buildings and archaeological installations. These vibrations result from the way that the vehicles act with different types of roads which vary according to the shape, nature, and type of obstacles. Other elements concerning the vehicle itself such as speed, weight, and load have a direct impact on the vibrations resulting from the vehicle movement that couldn't be neglected. The research aims to determine some of the requirements that must be observed when designing the public means of transport operating in the archaeological areas, in order to preserve the archaeological nature of the place. The research concludes that light weight slow motion vehicles should be used (25-50 km/h at maximum) having a multi-leaf steel spring suspension system instead of having an air-bag one should be used in order to reduce generated vibrations that could destroy the archeological buildings. Isolation layers could be used in the engine chamber in order to reduce the resulting noise causing vibrations. Electrically operated engines that use solar photovoltaic cells as a source of electricity could be used instead of gas ones in order to reduce the resulting engine noise.

Keywords: archeological, design, isolation layers, suspension, vibrations

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Authors: Mohammad Mirwais Arghandiwal, Fujita Motohiro, Wisinee Wisetjindawat

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Since 2001, the new government of Afghanistan addressed the improvement of transportation in rural areas as one of the key issues for the country development. This paper thus, aims to show the impotency of transportation in the rural area of Kabul province. A field survey in Kabul Province capital of Afghanistan has been conducted during March, 2015, and 201 questionnaires were collected from four districts named Shakar Dara, Paghman, Char Asyab, and Khak Jabar to investigate the impacts of road transportation on the people’s daily life. The districts had their road projects constructed during the last 3-5 years. The interviewees are chosen randomly from a different category of districts residences. As transportation is one of the most important factors for the development of the communities, during the survey it was very easily to observe a positive effect on the life of people. The improvement on the accessibility has had a positive impact on the land and land price. In this paper, a model is created to show the relationship between different factors and the land price improvement. In the end, a recommendation is presented on the establishment of the community council for a better use and maintenance of road projects. We emphasize on a public and private partnership at a community level in the districts during the construction period too. In addition, the communities should be encouraged on their positive role in the improvement of transportation through their participation and collaboration with the local government.

Keywords: accessibility, Afghanistan, poverty, rural area, transportation development

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Authors: Jesús David Argueta Moreno, Taria Ruiz, Cesar Ortega

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This qualitative investigation represents the first stage of the human capital engineering analysis, along the small and medium textile manufacturing companies, located on the city of Tegucigalpa, Honduras where the symptoms of the local manufacturing industry´s describe a severe gender displacement phenomenon. The evaluation of this phenomena, intends to trigger the Honduran small and medium technology manufactures into a collective performance, analysis through the development of a sectorial diagnose and the creation of a manufacturers guide, personalized. In accordance to the Honduran textile manufacturing needs, in order to strengthen their personnel capacities and thereby smoothen the gender equilibrium on this particular sector. It is worth mentioning, that on the last decade, the female gender has gathered positive statistics upon Central American job market´s, were the local business landscape describes a significant displacement of the Honduran female operators over the male gender workers that has significantly diminished their employment predominance. On the other hand, this study aims to evaluate the main features that impact on the job market local gender supplanting. On the other hand, this document aims to holistically describe the Honduran manufacturing context, as well as the current textile operator qualifications, in order to infer over the most proper human resources enforcement approaches/techniques on the industry.

Keywords: gender predominance, manufacturing, higher education institutions, emerging trends

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Authors: Sidiqat A. Aderinoye-Abdulwahab, Lateef L. Adefalu, Rashid S. Adisa, Felix O. Oladipo, Tawakalitu A. Dolapo

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This study investigates whether the rural women in Nigeria have access to productive resources such as land, livestock, and capital in order to determine their level of socio-economic empowerment. The study adopted a case study design while employing qualitative and quantitative methods of data collection. A multi-stage sampling technique was used to identify 7 locations, where 88 women were selected based on simple random sampling technique. Focus group discussions and questionnaire were used to elicit information. Gender analysis framework was used to explore and analyse the data generated for the study. The study found that the rural women desire to engage in gainful economic activities. However, cultural barriers prevent them from adequately exploring livelihood-improving opportunities. It was established that ownership of productive resources such as land and livestock can enhance their livelihoods provided cultural and governance issues do not deter them from accessing the services. It was therefore recommended that appropriate policies that will favour the access and ownership of assets by women so as to empower them need to be in place. The study provides a nuanced perspective on the influence and relevance of possession of physical assets in enhancing women’s livelihood diversification and overall development of rural livelihoods.

Keywords: livelihoods, productivity, development, economic activities, socio-economic empowerment

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Authors: Lan Wu

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The declared transformation towards a ‘new electricity system dominated by renewable energy’ by China requires a cleaner electricity consumption mix with high shares of renewable energy sourced-electricity (RES-E). Unfortunately, integration of RES-E into Chinese electricity markets remains a problem pending more robust legal support, evidenced by the curtailment of wind and solar power as a consequence of integration constraints. The upcoming energy law of the PRC (energy law) is expected to provide such long-awaiting support and coordinate the existing diverse sector-specific laws to deal with the weak implementation that dampening the delivery of their desired regulatory effects. However, in the shadow of the COVID-19 crisis, it remains uncertain how this new energy law brings synergies to RES-E integration, mindful of the significant impacts of the pandemic. Through the theoretical lens of the interplay between China’s electricity reform and legislative development, the present paper investigates whether there is a paradigm shift in energy law regarding renewable energy integration compared with the existing sector-specific energy laws. It examines the 2020 draft for comments on the energy law and analyses its relationship with sector-specific energy laws focusing on RES-E integration. The comparison is drawn upon five key aspects of the RES-E integration issue, including the status of renewables, marketisation, incentive schemes, consumption mechanisms, access to power grids, and dispatching. The analysis shows that it is reasonable to expect a more open and well-organized electricity market enabling absorption of high shares of RES-E. The present paper concludes that a period of prosperous development of RES-E in the post-COVID-19 era can be anticipated with the legal support by the upcoming energy law. It contributes to understanding the signals China is sending regarding the transition towards a cleaner energy future.

Keywords: energy law, energy transition, electricity market reform, renewable energy integration

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Authors: Lina Najafian, Hamidreza Vakilifard

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The present study focused on the relationship between the quality of accruals and non-systematic risk. The independent study variables included the ability of accruals, the information content of accruals, and amount of discretionary accruals considered as accruals quality measures. The dependent variable was non-systematic risk based on the Fama and French Three Factor model (FFTFM) and the capital asset pricing model (CAPM). The control variables were firm size, financial leverage, stock return, cash flow fluctuations, and book-to-market ratio. The data collection method was based on library research and document mining including financial statements. Multiple regression analysis was used to analyze the data. The study results showed that there is a significant direct relationship between financial leverage and discretionary accruals and non-systematic risk based on FFTFM and CAPM. There is also a significant direct relationship between the ability of accruals, information content of accruals, firm size, and stock return and non-systematic based on both models. It was also found that there is no relationship between book-to-market ratio and cash flow fluctuations and non-systematic risk.

Keywords: accruals quality, non-systematic risk, CAPM, FFTFM

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Authors: Sonny Dewi Judiasih

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Every person retains the right to marry and starts a family through a legitimized marriage. Indonesian Marriage Act has regulated the minimum age for boys to marry is 19 while the girls is 16, with an exception that the parents could ask for an exemption to the court or to the authorized official. Despite the age limit is set by the Marriage Act, however, with the influences from adat law and islamic law which allows younger persons to marry, the child marriage phenomenon is inevitable to happen in Indonesia. Child marriages in Indonesia have shown such alarming fact where 4.8 percentage of total marriage number come from persons with the age of 10 to 14 years old. The percentage was the result from a research conducted by the National Population and Family Planning Board (BKKBN). The result shows 41.9 percent of child marriages was contributed by girls who marry in the age of 15 to 19, which mostly comes from villagers. Other fact shows 50 percent of child marriages end in divorce with grounds varied from the mental health of the children, economic situation, and so on. With more children committed early marriages, more babies will be borned from indebted families. Subsequently, the government’s program to alleviate poverty will be short of expectations. Other risk for child marriages includes death of the mother and the child after giving birth. The people have challenged the legality of child marriages through judicial review filed to the Constitutional Court. The Court decided to reinforce the age limitation previously set by the Marriage Act by issuing judicial decision no: 30-74/PUU-Xii/2014. The Court stated that changes to the age limit must be in conform with cultural and traditional situation. Further, it stated child marriages are allowed to be arranged as an “emergency exit” if the parents filed such request to an exemption on the grounds of coercive situation and after the court or the authorized officials issued its approval.

Keywords: child, marriage, court, Indonesia

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Authors: Marwah Mohsin, Thomas Beach, Alan Kwan, Mahdi Ismail

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This paper describes the differences in views on sustainable development between the general public and experts in a developing country, Iraq. This paper will answer the question: How do the views of the public differ from the generally accepted view of experts in the context of sustainable urban development in Iraq? In order to answer this question, the views of both the public and the experts will be analysed. These results are taken from a public survey and a Delphi questionnaire. These will be analysed using statistical methods in order to identify the significant differences. This will enable investigation of the different perceptions between the public perceptions and the experts’ views towards urban sustainable development factors. This is important due to the fact that different viewpoints between policy-makers and the public will impact on the acceptance by the public of any future sustainable development work that is undertaken. The brief findings of the statistical analysis show that the views of both the public and the experts are considered different in most of the variables except six variables show no differences. Those variables are ‘The importance of establishing sustainable cities in Iraq’, ‘Mitigate traffic congestion’, ‘Waste recycling and separating’, ‘Use wastewater recycling’, ‘Parks and green spaces’, and ‘Promote investment’.

Keywords: urban sustainability, experts views, public views, principle component analysis, PCA

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Authors: Avinash Kishore, Suman Chakrabarti

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In September 2013, the parliament of India enacted the National Food Security Act (NFSA) which entitles two-thirds of India’s population to five kilograms of rice, wheat or coarse cereals per person per month at one to three rupees per kilogram. Five states in India—Andhra Pradesh, Chhattisgarh, Tamil Nadu, Odisha and West Bengal—had already implemented somewhat similar changes in the TPDS a few years earlier using their own budgetary resources. They made rice—coincidentally, all five states are predominantly rice-eating—available in fair price shops to a majority of their population at very low prices (less than Rs.3/kg). This paper tries to account for the changes in household consumption patterns associated with the change in TPDS policy in these states using data from household consumption surveys by the National Sample Survey Organization (NSSO). NSS data show improvement in the coverage of TPDS and average off-take of grains from fair price shops between 2004-05 and 2009-10 across all states of India. However, the increase in coverage and off-take was significantly higher in four out of these five states than in the rest of India. An average household in these states purchased three kilos more rice per month from fair price shops than its counterpart in non-treated states as a result of more generous TPDS policies backed by administrative reforms. The increase in consumption of PDS rice was the highest in Chhattisgarh, the poster state of PDS reforms. Households in Chhattisgarh used money saved on rice to spend more on pulses, edible oil, vegetables and sugar and other non-food items. We also find evidence that making TPDS more inclusive and more generous is not enough unless it is supported by administrative reforms to improve grain delivery and control diversion to open markets.

Keywords: public distribution system, social safety-net, national food security act, diet quality, Chhattisgarh

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Authors: D. Tappi

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In the past decades, the idea of innovation moved from being considered the result of development to being seen as its means. Innovation and its diffusion are indeed keys to the development and economic catch-up of a country. However, the process of diffusing existing innovation in low income countries has demonstrated dependent on inadequate infrastructures and institutions. The paper examines the role of disruptive innovation in bridging the technology gap between high- and low-income countries, overcoming the lack in infrastructures and institutions. In particular, the focus of this paper goes to the role of disruptive innovation in people transportation in Nigeria. Uber, Taxify, and Smartcab are covering a small and interesting market that was underserved, between the high-end private driver markets, the personal car owners and the low-priced traditional cab and the Keke (tricycle). Indeed the small Nigerian middle class and international community have found in the sharing people transportation market a safe, reasonably priced means of transportation in Nigerian big cities. This study uses mainly qualitative data collection methods in the form of semi-structured interviews with major players and users and quantitative data analysis in the form of a survey among users in order to assess the role of these new transportation modes in shaping the market and even creating a new niche. This paper shows how the new sharing economy in people transportation is creating new solutions to old problems as well as creating new challenges for both the existing market players and institutions. By doing so, the paper shows how disruptive innovations applied to low income countries, not only can overcome the lacking infrastructure problem but could also help bridge the technology gap between those and high income countries. This contribution proves that it is indeed exactly because the market presents these obstacles that disruptive innovations can succeed in countries such as Nigeria.

Keywords: development, disruptive innovation, sharing economy, technology gap

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Authors: M. Pushparani, A. Sagaya

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Embedded systems have emerged as important elements in various domains with extensive applications in automotive, commercial, consumer, healthcare and transportation markets, as there is emphasis on intelligent devices. On the other hand, Business Intelligence (BI) has also been extensively used in a range of applications, especially in the agriculture domain which is the area of this research. The aim of this research is to create a framework for Embedded Weight Comparison Algorithm with Business Intelligence (EWCA-BI). The weight comparison algorithm will be embedded within the plantation management system and the weighbridge system. This algorithm will be used to estimate the weight at the site and will be compared with the actual weight at the plantation. The algorithm will be used to build the necessary alerts when there is a discrepancy in the weight, thus enabling better decision making. In the current practice, data are collected from various locations in various forms. It is a challenge to consolidate data to obtain timely and accurate information for effective decision making. Adding to this, the unstable network connection leads to difficulty in getting timely accurate information. To overcome the challenges embedding is done on a portable device that will have the embedded weight comparison algorithm to also assist in data capture and synchronize data at various locations overcoming the network short comings at collection points. The EWCA-BI will provide real-time information at any given point of time, thus enabling non-latent BI reports that will provide crucial information to enable efficient operational decision making. This research has a high potential in bringing embedded system into the agriculture industry. EWCA-BI will provide BI reports with accurate information with uncompromised data using an embedded system and provide alerts, therefore, enabling effective operation management decision-making at the site.

Keywords: embedded business intelligence, weight comparison algorithm, oil palm plantation, embedded systems

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Authors: Ateba Benedict Belobo, Faan Pelser, Ambe Marcus

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Aims: This study arise from repeated complaints from both electronic mails about the underperformance of Mafikeng Small and Medium-Size enterprises after the global financial crisis. The authors were on the view that, this poor performance experienced could be as a result of the negative effects on the cash flow of these businesses due to volatilities in the business environment in general prior to the global crisis. Thus, the paper was mainly aimed at determining the shortcomings experienced by these SMEs with regards to cash flow management. It was also aimed at suggesting possible measures to improve cash flow management of these SMEs in this tough time. Methods: A case study was conducted on 3 beverage suppliers, 27 bottle stores, 3 largest fast consumer goods super markets and 7 automobiles enterprises in the Mafikeng local municipality. A mixed method research design was employed and a purposive sampling was used in selecting SMEs that participated. Views and experiences of participants of the paper were captured through in-depth interviews. Data from the empirical investigation were interpreted using open coding and a simple percentage formula. Results: Findings from the empirical research reflected that majority of Mafikeng SMEs suffer poor operational performance prior to the global financial crisis primarily as a result of poor cash flow management. However, the empirical outcome also indicted other secondary factors contributing to this poor operational performance. Conclusion: Finally, the authorsproposed possible measures that could be used to improve cash flow management and to solve other factors affecting operational performance of SMEs in the Mafikeng local municipality in other to achieve a better business performance.

Keywords: cash flow, business performance, global financial crisis, SMEs

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Authors: Sabir Hussain, Mujtaba Hassan, Kashif Rasool, Asif Shahzad

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Fine particulate matter with an aerodynamic diameter of less than 2.5 μm (PM2.5) was collected in Islamabad from November 2022 to January 2023, at urban sites. The average mass concentrations of PM2.5 varied, ranging from 90.5 to 133 μg m−3 in urban areas. Environmental scanning electron microscopy (ESEM) analysis revealed that Islamabad's PM2.5 comprised soot aggregates, ashes, minerals, bio-particles, and unidentified particles. Results from inductively coupled plasma atomic emission spectroscopy (ICP-OES) indicated a gradual increase in total elemental concentrations in Islamabad PM2.5 in winter, with relatively high levels in December. Significantly different elemental compositions were observed in urban PM2.5. Enrichment factor (EF) analysis suggested that elements such as K, Na, Ca, Mg, Al, Fe, Ba, and Sr were of natural origin, while As, Cu, Zn, Pb, Cd, Mn, Ni, and Se originated from anthropogenic sources. Plasmid DNA assays demonstrated varying levels of potential toxicity in Islamabad PM2.5 collected from urban sites, as well as across different seasons. Notably, the urban winter PM2.5 sample exhibited much stronger toxicity compared to other samples. The presence of heavy metals in Islamabad PM2.5, including Cu, Zn, Pb, Cd, Cr, Mn, and Ni, may have synergistic effects on human health.

Keywords: islamabad particulate matter pm2.5, scanning electron microscopy with energy-dispersive x-ray spectroscopy(sem-eds), fourier transform infrared spectroscopy(ftir), inductively coupled plasma optical emission spectroscopy(icp-oes)

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Authors: Farida Prihatini

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As a largest Muslim country in the world with around 215 Muslim inhabitants, Indonesia interestingly is not an Islamic country. Yet, Indonesia is not a secular country as well. The country has committed to be a unity in diversity country where people from various socio-political background may be coexistent live in this archipelago country. However, many provinces and Muslim groups are disposed of special regulation for Muslim people, namely local ordinances with sharia nuances, applied specifically in provinces, cities or regions where Muslim inhabitants are the majority. For the last two decades, particularly since Indonesia reform movement of 1998, a lot of local ordinances (Peraturan Daerah) with Sharia nuance have been enacted and applied in several provinces, cities and regions in Indonesia. The local ordinances are mostly deal with restriction of alcohol, prohibition of prostitution, Al Qur'an literacy, obligation to wear Muslim attire and zakat or alms management. Some of local ordinances have been warmly welcomed by society, while other ordinances have created tension. Those who oppose the ordinances believe that such things regulated by the ordinances are in violation of human rights and democracy, part of privacy rights of the people and must not be regulated by the State or local government. This paper describes the dynamic of local Ordinances with sharia nuances in Indonesia, in this research is limited to three ordinances: on the restriction of alcohol, prohibition of prostitution and obligation to wear Muslim attire. The researcher employs a normative method by studying secondary data and local ordinances in selected areas in Indonesia. The findings of the paper are that local ordinances with sharia nuances are indeed part of the needs of society, yet, in their implementation must take the pluralism of Indonesia and the state basic foundation, which is Pancasila (five pillars) into account.

Keywords: local, ordinances, sharia, rights

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Authors: Abdulaziz Abdulrahman Albahar

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This paper aims to answer the question of: is oil as a natural resource with all the wealth that it brings an economic burden? And how can resource curse be mitigated in such oil dependent nations? The case of Kuwait will be used as an example. The paper begins with an introduction of the resource curse and the Kuwaiti economy in general. Then there is an attempt to see that does the curse exist in the case for Kuwait. Furthermore, in the analysis section, an exploration on how the economy is dependent on oil and how oil is more of a burden if there is mismanagement is conducted. Later on, in answering on how to mitigate the problem of a resource curse, the case of Norway is explored. In concluding the paper, the results do show that oil rentals affects the Kuwaiti economy via 2 main channels, these are government spending that are mainly financed via oil rentals and exportation of oil based products. The surprising result was that government spending had a negative impact on GDP (gross domestic product) growth when oil rentals where instrumented on government expenditure, this is due to the issue of rent seeking in which government spending in Kuwait is financing things such as stimulus packages and raising the nominal wages. Yet, when comparing the magnitude of both oil exportation and government spending, the latter has a stronger effect on the GDP (gross domestic product) growth than the former. A resource curse doesn’t seem to exist in the case of Kuwait however, the characteristics of a curse do show in the form of rent seeking in the political sphere, the disruption of the traditional sectors like that of pearl trade and fishing markets. Yet, a curse doesn’t show due to the fact that the currency of the nation is very stable and hasn’t experienced any appreciation because of the fixed exchange rate system. Moreover, even if we can’t say that a curse exists, it is clear to see that the Kuwaiti economy is heading towards one. Whether or not it faces a resource curse will be based on how judicious the nation will be in exploiting their sovereign wealth fund and implementing diversification strategies to be less oil dependent like the vision “New Kuwait-2035” which has been underway since 2017.

Keywords: economic development, Kuwait, oil curse, dutch disease

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Authors: F. A. Gberindyer, M. O.Abatan, A. B. Saba

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Background: Gentamicin is an aminoglycoside antibiotic used in the treatment of infections caused by Gram-negative aerobic bacteria organisms in human and animals. In Nigeria, there are arrays of multisource generic versions of injectable gentamicin sulphate in the drug markets. There is a high prevalence of counterfeit and substandard drugs in the third world countries with consequent effect on their therapeutic efficacy and safety. Aim: The aim of this study was to investigate pharmaceutical equivalence of some of these generics used in veterinary practice in Nigeria. Methodology: About 20 generics of injectable gentamicin sulphate were sampled randomly across Nigeria but 15 were analyzed for identity and potency. Identity test was done using Fourier transform infra red spectroscopy and the spectral for each product compared with that of the USP reference standard for similarity. Microbiological assay using agar diffusion method with E. coli as a test organism on nutrient agar was employed and the respective diameters of bacterial inhibition zones obtained after 24 hour incubation at 37°C. The percent potency for each product was thereafter calculated and compared with the official specification. Result And Discussion: None of the generics is produced in any African country. About 75 % of the products are imported from China whereas 60 % of the veterinary generics are manufactured in Holland. Absorption spectra for the reference and test samples were similar. Percent potencies of all test products were within the official specification of 95-115 %. Nigeria relies solely on imported injectable gentamicin sulphate products. All sampled generic versions passed both identity and potency tests. Clinicians should ensure that drugs are used rationally since the converse could be contributing to the therapeutic failures reported for most of these generics. Bioequivalence study is recommended to ascertain their interchangeability when parenteral extra venous routes are indicated.

Keywords: generics, gentamicin, identity, multisource, potency

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Authors: Shubham Damke, Md Imtiaz, Sanchita Dei

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To stimulate the well and to enhance the production from the shaly formations, fracturing is essential. Presently the chiefly employed technology is Hydraulic Fracturing. However Hydraulic Fracturing accompanies itself with problems like disposing large volumes of fracturing wastewater, removal of water from the pores, formation damage due to injection of large amount of chemicals into underground formations and many more. Therefore embarking on the path of innovation new techniques have been developed which uses different gases such as Nitrogen, Carbon dioxide, Frac Oil, LPG, etc. are used as a base fluid for fracturing formation. However LPG proves to be the most favorable of them which eliminates the use of water and chemicals. When using it as a fracturing fluid, within the surface equipment, it is stored, gelled, and proppant blended at a constant pressure. It is then pressurized with high pressure pumps to the required surface injection pressure With lowering the total cost and increasing the productivity, LPG is also very noteworthy for fracturing shale, where if the hydraulic fracturing is done the water ‘swells’ the formation and creates surface tension, both of which inhibit the flow of oil and gas. Also fracturing with LPG increases the effective fracture length and since propane, butane and pentane is used which are already present in the natural gas therefore there is no problem of back flow because these gases get mixed with the natural gas. LPG Fracturing technology can be a promising substitute of the Hydraulic Fracturing, which could substantially reduce the capital cost of fracturing shale and will also restrict the problems with the disposal of water and on the same hand increasing the fracture length and the productivity from the shale.

Keywords: Fracking, Shale, Surface Tension, Viscosity

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Authors: Shamim Ahsan

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Abstract Global digital advances associated with consumer’s strong inclination for the state of art digital technologies is causing overwhelming social and environmental challenges for global community. During recent years not only economic advances of electronic industries has taken place at steadfast rate, also the generation of e-waste outshined the growth of any other types of wastes. The estimated global e-waste volume is expected to reach 65.4 million tons annually by 2017. Formal recycling practices in developed countries are stemming economic liability, opening paths for illegal trafficking to developing countries. Informal crude management of large volume of e-waste is transforming into an emergent environmental and health challenge in. Contrariwise, in several studies formal and informal recycling of e-waste has also exhibited potentials for economic returns both in developed and developing countries. Some research on China illustrated that from large volume of e-wastes generation there are recycling potential in evolving from ∼16 (10−22) billion US$ in 2010, to an anticipated ∼73.4 (44.5−103.4) billion US$ by 2030. While in another study, researcher found from an economic analysis of 14 common categories of waste electric and electronic equipment (WEEE) the overall worth is calculated as €2.15 billion to European markets, with a potential rise to €3.67 billion as volumes increase. These economic returns and environmental protection approaches are feasible only when sustainable policy options are embraced with stricter regulatory mechanism. This study will critically review current researches to stipulate how global e-waste generation and sustainable e-waste recycling practices demonstrate future economic development potential in terms of both quantity and processing capacity, also triggering complex some environmental challenges.

Keywords: E-Waste, , Generation, , Economic Potential, Recycling

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Authors: Sharapat Sharapat

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English language is perceived as cultural capital in many non-native English-speaking countries, and minority groups in these social contexts seem to invest in the language to be empowered and reposition themselves from the imbalanced power relation with the dominant group. This study is devoted to explore how English learning influence minority Kazakh students’ identity (re)construction at Chinese universities from the scope of ‘imagined community, investment, and identity’ theory of Norton (2013). To this end the three research questions were designed as follows: 1) Kazakh minority students’ English learning experiences at Chinese universities; 2) Kazakh minority students’ views about benefits and opportunities of English learning; 3) the influence of English learning on Kazakh minority students’ identity (re)construction. The study employs an interview-based qualitative research method by interviewing nine Kazakh minority students in universities in Xinjiang and other inland cities in China. The findings suggest that through English learning, some students have reconstructed multiple identities as multicultural and global identities, which created ‘a third space’ to break limits of their ethnic and national identities and confused identity as someone in-between. Meanwhile, most minority students were empowered by the English language to resist inferior or marginalized positions and reconstruct imagined elite identity. However, English learning disempowered students who have little previous English education in school and placed them on unequal footing with other students, which further escalated the educational inequities.

Keywords: minority in China, identity construction, multilingual education, language empowerment

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Authors: Tijjani Bashir Musa

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The recent global crisis which suddenly results to Nigerian stock market crash revealed some peculiarities of Nigerian firms. Some firms in Nigeria are performing but their stock prices are not increasing while some firms are at the brink of collapse but their stock prices are increasing. Thus, this study examines the relationship between firm performance and stock price in Nigeria. The study covered the period of 2005 to 2009. This period is the period of stock boom and also marked the period of stock market crash as a result of global financial meltdown. The study is a panel study. A total of 140 firms were sampled from 216 firms listed on the Nigerian Stock Exchange (NSE). Data were collected from secondary source. These data were divided into four strata comprising the most performing stock, the least performing stock, most performing firms and the least performing firms. Each stratum contains 35 firms with characteristic of most performing stock, most performing firms, least performing stock and least performing firms. Multiple linear regression models were used to analyse the data while statistical/econometrics package of Stata 11.0 version was used to run the data. The study found that, relationship exists between selected firm performance parameters (operating efficiency, firm profit, earning per share and working capital) and stock price. As such firm performance gave sufficient information or has predictive power on stock prices movements in Nigeria for all the years under study.. The study recommends among others that Managers of firms in Nigeria should formulate policies and exert effort geared towards improving firm performance that will enhance stock prices movements.

Keywords: firm, Nigeria, performance, stock price

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Authors: Ali Alsawayeh, Ibrahim Eldanfour

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This paper examines the extent of disclosure of oil and gas reserve quantum in annual reports of international oil and gas exploration and production companies, particularly companies in untested international markets, such as Canada, the UK and the US, and seeks to determine the underlying factors that affect the level of disclosure on oil reserve quantum. The study is concerned with the usefulness of disclosure of oil and gas reserves quantum to investors and other users. Given the primacy of the annual report (10-k) as a source of supplemental reserves data about the company and as the channel through which companies disseminate information about their performance, the annual reports for one year (2009) were the central focus of the study. This comparative study seeks to establish whether differences exist between the sample companies, based on new disclosure requirements by the Securities and Exchange Commission (SEC) in respect of reserves classification and definition. The extent of disclosure of reserve is provided and compared among the selected companies. Statistical analysis is performed to determine whether any differences exist in the extent of disclosure of reserve under the determinant variables. This study shows that some factors would affect the extent of disclosure of reserve quantum in the above-mentioned countries, namely: company’s size, leverage and quality of auditor. Companies that provide reserves quantum in detail appear to display higher size. The findings also show that the level of leverage has affected companies’ reserves quantum disclosure. Indeed, companies that provide detailed reserves quantum disclosure tend to employ a ‘high-quality auditor’. In addition, the study found significant independent variable such as Profit Sharing Contracts (PSC). This factor could explain variations in the level of disclosure of oil reserve quantum between the contractor and host governments. The implementation of SEC oil and gas reporting requirements do not enhance companies’ valuation because the new rules are based only on past and present reserves information (proven reserves); hence, future valuation of oil and gas companies is missing for the market.

Keywords: comparison, company characteristics, disclosure, reserve quantum, regulation

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Authors: Duong Van Thanh

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Artificial Intelligence (AI) has been recently a new trend in Higher Education systems globally as well as in the Vietnamese Higher Education. This study explores the benefits and challenges in applications of AI in 02 selected universities, ie. Vietnam National Universities in Hanoi Capital and the University of Economics in Ho Chi Minh City. Particularly, this paper focuses on how the ethics of Artificial Intelligence have been addressed among faculty members at these two universities. The AI ethical issues include the access and inclusion, privacy and security, transparency and accountability. AI-powered educational technology has the potential to improve access and inclusion for students with disabilities or other learning needs. However, there is a risk that AI-based systems may not be accessible to all students and may even exacerbate existing inequalities. AI applications can be opaque and difficult to understand, making it challenging to hold them accountable for their decisions and actions. It is important to consider the benefits that adopting AI-systems bring to the institutions, teaching, and learning. And it is equally important to recognize the drawbacks of using AI in education and to take the necessary steps to mitigate any negative impact. The results of this study present a critical concern in higher education in Vietnam, where AI systems may be used to make important decisions about students’ learning and academic progress. The authors of this study attempt to make some recommendation that the AI-system in higher education system is frequently checked by a human in charge to verify that everything is working as it should or if the system needs some retraining or adjustments.

Keywords: artificial intelligence, ethics, challenges, vietnam

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Authors: Assaad Ghazouani, Hedia Teraoui

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The purpose of this article is to try to see if the FDI actually contributes to technology transfer in Tunisia or are there other sources that can guarantee this transfer? The answer to this problem was gradual as we followed an approach using economic theory, the reality of Tunisia and econometric and statistical tools. We examined the relationship between technology transfer and FDI in Tunisia over a period of 40 years from 1970 to 2010. We estimated in two stages: first, a growth equation, then we have learned from this regression residue (proxy technology), secondly, we regressed on European FDI, exports of manufactures, imports of goods from the European Union in addition to other variables to test the robustness of the results and describing the level of infrastructure in the country. It follows from our study that technology transfer does not originate primarily and exclusively in the FDI and the latter is econometrically weakly with technology transfer and spill over effect of FDI does not seem to occur according to our results. However, the relationship between technology transfer and imports is negative and significant. Although this result is cons-intuitive, is recurrent in the literature of panel data. It has also given rise to intense debate on the microeconomic modelling as well as on the empirical applications. Technology transfer through trade or foreign investment has become a catalyst for growth recognized by numerous empirical studies in particular. However, the relationship technology transfer FDI is more complex than it appears. This complexity is due, primarily, but not exclusively to the close link between FDI and the characteristics of the host country. This is essentially the host's responsibility to establish general conditions, transparent and conducive to investment, and to strengthen human and institutional capacity necessary for foreign capital flows that can have real effects on growth.

Keywords: technology transfer, foreign direct investment, economics, finance

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Authors: Monisha Isaac

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Biotechnology is a discipline which explains the use of living organisms and systems to construct a product, or we can define it as an application or technology developed to use biological systems and organisms processes for a specific use. Particularly, it includes cells and its components use for new technologies and inventions. The tools developed can be further used in diverse fields such as agriculture, industry, research and hospitals etc. The 21^st century has seen a drastic development and advancement in biotechnology in India. Significant increase in Government of India’s outlays for biotechnology over the past decade has been observed. A sectoral break up of biotechnology-based companies in India shows that most of the companies are agriculture-based companies having interests ranging from tissue culture to biopesticides. Major attention has been given by the companies in health related activities and in environmental biotechnology. The biopharmaceutical, which comprises of vaccines, diagnostic, and recombinant products is the most reliable and largest segment of the Indian Biotech industry. India has developed its vaccine markets and supplies them to various countries. Then there are the bio-services, which mainly comprise of contract researches and manufacturing services. India has made noticeable developments in the field of bio industries including manufacturing of enzymes, biofuels and biopolymers. Biotechnology is also playing a crucial and significant role in the field of agriculture. Traditional methods have been replaced by new technologies that mainly focus on GM crops, marker assisted technologies and the use of biotechnological tools to improve the quality of fertilizers and soil. It may only be a small contributor but has shown to have huge potential for growth. Bioinformatics is a computational method which helps to store, manage, arrange and design tools to interpret the extensive data gathered through experimental trials, making it important in the design of drugs.

Keywords: biotechnology, advancement, agriculture, bio-services, bio-industries, bio-pharmaceuticals

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Authors: Damanhur Munardi, Muhammad Hafiz, Dina Nurmalita Sari, Syarifah Ridani Alifa

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Purpose: This research aims to analyze the Benefits, Opportunity, Cost, and Risk aspects of applying the Green Finance concept and to obtain the right Green Finance financing strategy to be implemented within a long-term and short-term strategic framework.Methodology: This research method uses a qualitative-descriptive analysis approach. The analysis technique uses Analytical Network Process (ANP) with a BOCR network structure approach.Findings: The research results show that the most priority long-term strategic alternative based on the long-term BOCR analysis is increasing awareness among the public and industry by 52% and the importance of coordination between related institutions by 50%. Meanwhile, the most priority short-term strategic alternatives are the importance of coordination between related institutions 29%, increasing awareness among the public and industry 28%, the banking industry proactively funding environmentally friendly companies and technology 23%, the existence of Green Finance POS (Standard Operating Procedures) 20%.Implications: This research can be used as a reference for regulators and policymakers in making strategic decisions that can increase green finance financing. The novelty of this research is identifying problems that occur in green finance financing in Aceh province by analyzing opinions from experts in related fields and financial regulators in Aceh to create a strategy that can be implemented to increase green finance financing in Aceh province through BPD in Aceh, namely Bank Aceh.

Keywords: green financing, banking, sharia, islamic

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Authors: Sally Barsoum

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This paper is providing a significant insight into the role of satire in Egyptian politics and how it has been received from the government and viewer’s point of view. It mainly sets out to test whether Bassem Youssef’s satirical program has played a significant role in Egypt recent politics and to investigate what is the nature and extent of this role. In order to test this hypothesis, the researcher chose to critically analyze one episode of Bassem Youssef’s satirical show, El Bernameg. This paper goes further to highlight that the aims of satire is to invite citizens to analyze, criticize and question people in power and the realm of politics rather than remain as untouched subjects by combining humor with critique in order to enhance citizens’ political awareness and perhaps even political engagement. Moreover it identifies that Bassem Youssef’s satire is to use laughter as a medium to communicate his political message. By first informing the public and secondly engaging them through laughter, satire plays a very constructive political role, which have been argued finally that Bassem Youssef has indeed played an important part in the Egyptian political scene of today and this can be measured by the degree of censorship that he has been subject to and the level of international and domestic reaction towards his satirical show. At the end, this paper is suggesting that the measure of a strong government is its ability not only to accommodate satire but also to learn from it.

Keywords: political satirist, Bassem Youssef, capital broadcasting center, TV channel, muslims brotherhood regime, ONTV Egyptian TV channel

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Authors: Souhir Abid

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The growing interest in vegetal biomass as an alternative for fossil resources has stimulated the development of numerous classes of monomers. Polymers from renewable resources have attracted an increasing amount of attention over the last two decades, predominantly due to two major reasons (i) firstly environmental concerns, and (ii) secondly the use of monomers from renewable feedstock is a steadily growing field of interest in order to reduce the amount of petroleum consumed in the chemical industry and to open new high-value-added markets to agriculture. Furanic polymers have been considered as alternative environmentally friendly polymers. In our earlier work, modifying furanic polyesters by incorporation of amide functions along their backbone, lead to a particular class of polymer ‘poly(ester-amide)s’, was investigated to combine the excellent mechanical properties of polyamides and the biodegradability of polyesters. As a continuation of our studies on this family of polymer, a series of furanic poly(ester-amide)s bearing sulfonate groups in the main chain were synthesized from 5,5’-Isopropylidene-bis(ethyl 2-furoate), dimethyl 5-sodiosulfoisophthalate, ethylene glycol and hexamethylene diamine by melt polycondensation using zinc acetate as a catalyst. In view of the complexity of the NMR spectrum analysis of the resulting sulfonated poly(ester-amide)s, we found that it is useful to prepare initially the corresponding homopolymers: sulfonated polyesters and polyamides. Structural data of these polymers will be used as a basic element in 1H NMR characterization. The hydrolytic degradation in acidic aqueous conditions (pH = 4,35 ) at 37 °C over the period of four weeks show that the mechanism of the hydrolysis of poly(ester amide)s was elucidated in relation with the microstructure. The strong intermolecular hydrogen bonding interactions between amide functions and water molecules increases the hydrophilicity of the macromolecular chains and consequently their hydrolytic degradation.

Keywords: furan, hydrolytic degradation, polycondensation, poly(ester amide)

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