Search results for: bilateral trade
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 1185

Search results for: bilateral trade

975 Effect of Transcutaneous Electrical Nerve Stimulation on Acupoints in Type 2 Diabetes Mellitus: A Blood Glucose Analysis

Authors: Asif Arsalan

Abstract:

The mortality rate of type 2 diabetes increasing day by day at an alarming rate. Changing lifestyle and environment have contributory effect in increase rate of type 2 diabetes mellitus. This study introduces a new method in physiotherapy field of treating a disease like diabetes, and gives the new way to control the diabetes without medicines.50 patients were selected on the basis of inclusion and exclusion criteria and were assigned to receive either TENS (group A) on the bilateral ST36 acupoints at a frequency of 25 Hz with intensity of 9 mA or placebo (group B) treatment for 5 minutes for 7 days. The blood glucose level was measured at both pre and post stimulation. Stimulation was given after 3 hours of food on every day regularly on stipulated time.There was significant improvement (P<0.05) in random blood sugar level of type 2 diabetes mellitus. It has been found TENS on bilateral ST36 acupoints have an effect to control plasma glucose level for type 2 diabetic mellitus patients and can be used without having any side effect. This study gives new idea to treat the type 2 diabetes conservatively with the TENS. As there are some study that TENS had been used to treat nausea, spasticity etc. condition by stimulating the acupoint but it is the very first time that TENS has been used to treat diabetes like disease. This study help the physiotherapy community to spread the physiotherapy treatment in other branches of the medical field and this gives a new identity for the physiotherapy. This also gives the benefit to patients to take a safe and cost effective treatment for the diabetes, and make the new use of TENS to treat other condition rather than pain.

Keywords: acupoint, plasma glucose level, type 2 diabetic mellitus, TENS

Procedia PDF Downloads 278
974 Assessment of the Egyptian Agricultural Foreign Trade with Common Market for Eastern and Southern Africa Countries

Authors: Doaa H. I. Mahmoud, El-Said M. Elsharkawy, Saad Z. Soliman, Soher E. Mustfa

Abstract:

The opening of new promising foreign markets is one of the objectives of Egypt’s foreign trade policies, especially for agricultural exports. This study aims at the examination of the commodity structure of the Egyptian agricultural imports and exports with the COMESA countries. In addition, estimation of the surplus/deficit of the Egyptian commodities and agricultural balance with these countries is made. Time series data covering the period 2004-2016 is used. Estimation of the growth function along with the derivation of the annual growth rates of the study’s variables is made. Some of the results of the study period display the following: (1) The average total Egyptian exports to the COMESA (Common Market for Eastern and Southern Africa) countries is estimated at 1,491 million dollars, with an annual growth rate of 14.4% (214.7 million dollars). (2) The average annual Egyptian agricultural exports to these economies is estimated at 555 million dollars, with an annual growth rate of 19.4% (107.7 million dollars). (3) The average annual value of agricultural imports from the COMESA countries is set at 289 Million Dollars, with an annual growth rate of 14.4% (41.6 million dollars). (4) The study shows that there is a continuous surplus in the agricultural balance with these economies, whilst having a deficit in the raw-materials agricultural balance, as well as the balance of input requirements with these countries.

Keywords: COMESA, Egypt, growth rates, trade balance

Procedia PDF Downloads 183
973 Banking Crisis and Economic Effects of the Banking Crisis in Turkey

Authors: Sevilay Konya, Sadife Güngör, Zeynep Karaçor

Abstract:

Turkish economy is occurred depending on different factors from time to time and the banking crises of different magnitudes. Foremost among the factors which hinder the development of countries and societies- crises in the country's economy. Countries' economic growth rates affect inflation, unemployment and external trade. In this study, effect of November 2000, February 2001 and 2008 banking crisis on Turkey's economy and banking crisis will be examined and announced as conceptual. In this context, this study is investigates Turkey's GDP, inflation, unemployment and foreign trade figures. Turkey's economy affected have been identified from 2000 November 2001 February and 2008 banking crisis.

Keywords: banking crises, Turkey’s economy, economic effects, Turkey

Procedia PDF Downloads 282
972 Analysis of the Evolution of Techniques and Review in Cleft Surgery

Authors: Tomaz Oliveira, Rui Medeiros, André Lacerda

Abstract:

Introduction: Cleft lip and/or palate are the most frequent forms of congenital craniofacial anomalies, affecting mainly the middle third of the face and manifesting by functional and aesthetic changes. Bilateral cleft lip represents a reconstructive surgical challenge, not only for the labial component but also for the associated nasal deformation. Recently, the paradigm of the approach to this pathology has changed, placing the focus on muscle reconstruction and anatomical repositioning of the nasal cartilages in order to obtain the best aesthetic and functional results. The aim of this study is to carry out a systematic review of the surgical approach to bilateral cleft lip, retrospectively analyzing the case series of Plastic Surgery Service at Hospital Santa Maria (Lisbon, Portugal) regarding this pathology, the global assessment of the characteristics of the operated patients and the study of the different surgical approaches and their complications in the last 20 years. Methods: The present work demonstrates a retrospective and descriptive study of patients who underwent at least one reconstructive surgery for cleft lip and/or palate, in the CPRE service of the HSM, in the period between January 1 of 1997 and December 31 of 2017, in which the data relating to 361 individuals were analyzed who, after applying the exclusion criteria, constituted a sample of 212 participants. The variables analyzed were the year of the first surgery, gender, age, type of orofacial cleft, surgical approach, and its complications. Results: There was a higher overall prevalence in males, with cleft lip and cleft palate occurring in greater proportion in males, with the cleft palate being more common in females. The most frequently recorded malformation was cleft lip and palate, which is complete in most cases. Regarding laterality, alterations with a unilateral labial component were the most commonly observed, with the left lip being described as the most affected. It was found that the vast majority of patients underwent primary intervention up to 12 months of age. The surgical techniques used in the approach to this pathology showed an important chronological variation over the years. Discussion: Cleft lip and/or palate is a medical condition associated with high aesthetic and functional morbidity, which requires early treatment in order to optimize the long-term outcome. The existence of a nasolabial component and its respective surgical correction plays a central role in the treatment of this pathology. The high rates of post-surgical complications and unconvincing aesthetic results have motivated an evolution of the surgical technique, increasingly evident in recent years, allowing today to achieve satisfactory aesthetic results, even in bilateral cleft lip with high deformation complexity. The introduction of techniques that favor nasolabial reconstruction based on anatomical principles has been producing increasingly convincing results. The analyzed sample shows that most of the results obtained in this study are, in general, compatible with the results published in the literature. Conclusion: This work showed that the existence of small variations in the surgical technique can bring significant improvements in the functional and aesthetic results in the treatment of bilateral cleft lip.

Keywords: cleft lip, palate lip, congenital abnormalities, cranofacial malformations

Procedia PDF Downloads 88
971 The Impact of Information Communication Technology on Promoting Travel Trade Industry in a Developing Economy, Case Study Nigeria

Authors: Murtala Mohammed Alamai, Abdullahi Marshal Idris, Adama Idris

Abstract:

Today, marketing does not only involve selecting target markets, but it also involves communicating with the customers through various means to put across your selling point. Modern marketing involves driving new product development based on customer needs by getting feedback from them. Utilizing the latest technology for better communication with the customers is the latest advancement in Marketing in the 21st century. The survey approach was used where a sample of tourist destinations across the six geographical zones of the country at random was done to ascertain the use of information communication systems in promoting their products and or services, the findings revealed that only a few utilize these modern advanced means in marketing and promoting their products and a need to develop effective and up to date online services for marketing was proffered as solutions to the findings observed.

Keywords: information, communication, travel, trade, promotion

Procedia PDF Downloads 303
970 Current Starved Ring Oscillator Image Sensor

Authors: Devin Atkin, Orly Yadid-Pecht

Abstract:

The continual demands for increasing resolution and dynamic range in CMOS image sensors have resulted in exponential increases in the amount of data that needs to be read out of an image sensor, and existing readouts cannot keep up with this demand. Interesting approaches such as sparse and burst readouts have been proposed and show promise, but at considerable trade-offs in other specifications. To this end, we have begun designing and evaluating various new readout topologies centered around an attempt to parallelize the sensor readout. In this paper, we have designed, simulated, and started testing a new light-controlled oscillator topology with dual column and row readouts. We expect the parallel readout structure to offer greater speed and alleviate the trade-off typical in this topology, where slow pixels present a major framerate bottleneck.

Keywords: CMOS image sensors, high-speed capture, wide dynamic range, light controlled oscillator

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969 Uterine Leiomyomas and Urological Complications

Authors: Dharshini Selvarajah, Nicula Lui, Karen Kong

Abstract:

Background: Uterine fibroids are a common benign gynaecologic neoplasm in reproductive-aged women. Fibroids may become symptomatic in a vast majority of nulliparous women. Their diagnosis and management is often coordinated between gyneacologists, radiologists and urologists depending on the anatomical location, growth, size and the fibroids sarcomatous evolvement. Some patients may develop obstructive uropathy symptoms, either uni or bilateral secondary urethral obstruction causing hydronephrosis. Uterine artery emoblisation (UAE) has previously shown to effectively resolve symptoms as well as relieve urethral obstruction and resolve the hydronephrosis. UAE has now established itself as an organ preserving and minimally invasive procedure in the management of symptomatic uterine fibroids. It is a safe and effective alternative to hysterectomy for resolving fibroid related pressure symptoms. The case presented examines the clinical manifestations and impact of uterine fibroids on the urinary tract system. The therapeutic options to relieve the urological symptoms as well as preserve fertility are explored and presented. Case: The case is a 29-year-old Nepalese female admitted to hospital with recurrent urosepsis with multiresistant organisms. This was on a background of an enlarged uterus (measuring 17cm x11cm) with multiple subserosal, intramural and exophytic fibroids- causing external ureteric compression. She had bilateral ureteric stents insitu and required bilateral right and left nephrostomies during repeated episodes of urosepsis and bilateral ureteric obstruction. The left nephrostomy was removed a month prior to admission and her most recent CT KUB demonstrated hypofunctioning ureteric stents with bilateral hydronephrosis. Options of hysterectomy versus uterine artery emoblisation (UAE) were extensively explored. The patient was keen to preserve fertility. Risks associated with UAE such as expulsion of the submucosal component of the fibroids and the possibilities of sepsis in the setting of ongoing ureteric colonisation were particularly high. The patient opted to trial UAE even though the risks of recurrent hospital admissions with urosepsis were going to be particularly high. In the event, the uterus fails to shrink adequately enough to relieve the obstructed ureters a hysterectomy would inevitably be required in future. Day 3 post UAE the patient developed fevers, was hypotensive and tachycardic post-receiving prophylactic meropenem and fluconazole pre emoblisation. She was noted to have a CRP of 293 with the most recent urine culture during this time growing Candida albicans. The patient was recommenced on oral fluconazole and IV meropenem, with good effect. Her repeat renal tract ultrasound post-UAE showed ongoing marked left hydronephrosis relatively unchanged from the scan one month prior to the procedure, however the right-sided hydronephrosis had resolved. The patient was discharged on a 2-week course of antibiotics. The patient will have a repeat renal tract ultrasound and MRI of the ureters to re-evaluate the degree of hydronephrosis and progress- this was unavailable at the time of abstract submission and will be presented at the conference. Conclusion: Fibroids are a common benign tumour of the uterus and can frequently impact the lower urinary system resulting in significant uropathy. They often enlarge and compress the urinary bladder, urethra and lower end of the ureters. The effectiveness of UAE as a fertility preserving option is described.

Keywords: Uterine leiomyomas and urological complications, uterine artery embolisation for fibroids, Uterine fibroids and complications, Management of uterine fibroids

Procedia PDF Downloads 202
968 Management of Urological Complications Secondary to Uterine Fibroids

Authors: Dharshini Selvarajah, Karen Kong

Abstract:

Background: Uterine fibroids are a common benign gynaecologic neoplasm in reproductive-aged women. Fibroids may become symptomatic in a vast majority of nulliparous women. Their diagnosis and management are often coordinated between gyneacologists, radiologists and urologists depending on the anatomical location, growth, size and the fibroids' sarcomatous evolvement. Some patients may develop obstructive uropathy symptoms, either uni or bilateral secondary urethral obstruction causing hydronephrosis. Uterine artery embolization (UAE) has previously been shown to effectively resolve symptoms as well as relieve urethral obstruction and resolve hydronephrosis. UAE has now established itself as an organ-preserving and minimally invasive procedure in the management of symptomatic uterine fibroids. It is a safe and effective alternative to hysterectomy for resolving fibroid-related pressure symptoms. The case presented examines the clinical manifestations and impact of uterine fibroids on the urinary tract system. The therapeutic options to relieve the urological symptoms as well as preserve fertility are explored and presented. Case: The case is a 29-year-old Nepalese female admitted to the hospital with recurrent urosepsis with multiresistant organisms. This was on a background of an enlarged uterus (measuring 17cm x11cm) with multiple subserosal, intramural and exophytic fibroids- causing external ureteric compression. She had bilateral ureteric stents in situ and required bilateral right and left nephrostomies during repeated episodes of urosepsis and bilateral ureteric obstruction. The left nephrostomy was removed a month prior to admission, and her most recent CT KUB demonstrated hypofunctioning ureteric stents with bilateral hydronephrosis. Options of hysterectomy versus uterine artery embolization (UAE) were extensively explored. The patient was keen to preserve fertility. Risks associated with UAE, such as the expulsion of the submucosal component of the fibroids and the possibilities of sepsis in the setting of ongoing ureteric colonisation were particularly high. The patient opted to trial UAE even though the risks of recurrent hospital admissions with urosepsis were going to be particularly high. In the event, the uterus fails to shrink adequately enough to relieve the obstructed ureters, a hysterectomy would inevitably be required in the future. Day 3 post-UAE the patient developed fevers, was hypotensive and tachycardic post-receiving prophylactic meropenem and fluconazole pre emoblisation. She was noted to have a CRP of 293 with the most recent urine culture during this time growing Candida albicans. The patient was recommenced on oral fluconazole and IV meropenum, with good effect. Her repeat renal tract ultrasound post-UAE showed ongoing marked left hydronephrosis relatively unchanged from the scan one month prior to the procedure; however, the right-sided hydronephrosis had resolved. The patient was discharged on a 2-week course of antibiotics. The patient will have a repeat renal tract ultrasound and MRI of the ureters to re-evaluate the degree of hydronephrosis and progress- this was unavailable at the time of abstract submission and will be presented at the conference. Conclusion: Fibroids are a common benign tumor of the uterus and can frequently impact the lower urinary system resulting in significant uropathy. They often enlarge and compress the urinary bladder, urethra and lower end of the ureters. The effectiveness of the UAE as a fertility-preserving option is described.

Keywords: uterine artery embolisation for fibroids, urological complications from fibroids, uropathy of fibroids, obstructive fibroid management

Procedia PDF Downloads 188
967 Role of International Organizations towards Good Governance: Recent Trends

Authors: E. Prema Shyam

Abstract:

The role of international organizations has contributed in various ways for the good governance in the world at large. Since the beginning of the 1990s international organizations, particularly those active in the areas of human rights, trade and economic etc., have embraced a 'good governance'. It is also pertinent to mention that the application of the concept of good governance to international organizations themselves and not exclusively to national or regional polities is a more recent phenomenon. Especially since the second half of the 1990s, a number of international organizations have carried out major governance reforms, assuming that their calls for governments to heed higher standards of good governance will be all the more credible provided that they develop a good governance standard for themselves. In addition to this number of organizations such as the United Nations (UN), Organisation for Economic Co-operation and Development (OECD), European Union (EU), International Committee of the Red Cross and World Trade Organization (WTO). OECD has been specifically mobilized to fight corruption. The World Bank was the first international organization to address the issue of good governance when it attributed the African development crisis to a crisis of governance in a 1989 report. International organizations are often denounced for their lack of transparency and democracy. However, in the last few years, a number of them have pushed through impressive reforms aimed at enhancing good governance standards within their own organizations, especially in the light of their long-standing secrecy. This is a remnant of the traditional conception of international organizations, which renders them merely answerable to their Members. International organizations have already gone quite some way in the areas of good management and opening up to the public. However, as far as participatory governance is concerned, lot to be done for the larger interest of society. In this paper, an attempt has been made to focus the issues on international organisations with regard to good governance.

Keywords: good governance, World Trade Organisation, international organisation, governance reforms

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966 Evaluating Value of Users' Personal Information Based on Cost-Benefit Analysis

Authors: Jae Hyun Park, Sangmi Chai, Minkyun Kim

Abstract:

As users spend more time on the Internet, the probability of their personal information being exposed has been growing. This research has a main purpose of investigating factors and examining relationships when Internet users recognize their value of private information with a perspective of an economic asset. The study is targeted on Internet users, and the value of their private information will be converted into economic figures. Moreover, how economic value changes in relation with individual attributes, dealer’s traits, circumstantial properties will be studied. In this research, the changes in factors on private information value responding to different situations will be analyzed in an economic perspective. Additionally, this study examines the associations between users’ perceived risk and value of their personal information. By using the cost-benefit analysis framework, the hypothesis that the user’s sense in private information value can be influenced by individual attributes and situational properties will be tested. Therefore, this research will attempt to provide answers for three research objectives. First, this research will identify factors that affect value recognition of users’ personal information. Second, it provides evidences that there are differences on information system users’ economic value of information responding to personal, trade opponent, and situational attributes. Third, it investigates the impact of those attributes on individuals’ perceived risk. Based on the assumption that personal, trade opponent and situation attributes make an impact on the users’ value recognition on private information, this research will present the understandings on the different impacts of those attributes in recognizing the value of information with the economic perspective and prove the associative relationships between perceived risk and decision on the value of users’ personal information. In order to validate our research model, this research used the regression methodology. Our research results support that information breach experience and information security systems is associated with users’ perceived risk. Information control and uncertainty are also related to users’ perceived risk. Therefore, users’ perceived risk is considered as a significant factor on evaluating the value of personal information. It can be differentiated by trade opponent and situational attributes. This research presents new perspective on evaluating the value of users’ personal information in the context of perceived risk, personal, trade opponent and situational attributes. It fills the gap in the literature by providing how users’ perceived risk are associated with personal, trade opponent and situation attitudes in conducting business transactions with providing personal information. It adds to previous literature that the relationship exists between perceived risk and the value of users’ private information in the economic perspective. It also provides meaningful insights to the managers that in order to minimize the cost of information breach, managers need to recognize the value of individuals’ personal information and decide the proper amount of investments on protecting users’ online information privacy.

Keywords: private information, value, users, perceived risk, online information privacy, attributes

Procedia PDF Downloads 212
965 The Imperative of Indigenous Entrepreneurship and Sustainable Development in the Globalized Economy

Authors: Innocent Felix Idoko

Abstract:

The development of indigenous entrepreneurship is critical to the achievement of sustainable development in the internationalized economy. Sustainable development implies a continuous stimulus of growth and improvement of an economy in a fairly stable manner. The paradigms of a globalization are numerous to mention. However, to a great extent, these are trade-offs and dilemmas for indigenous entrepreneurship, particularly in the developing economies with infant industries that are essentially crucial to development. This paper analyses the pros and cons of globalization as relates to the complementary role of both foreign and indigenous entrepreneurs, the conflict of values between globalization and protectionism for local entrepreneurship. Using analytical and descriptive approach, the views of academicians, research fellows, literature reviews and both the theories of the mercantilists and those of free trade mainstream economists, and the G20, the paper concludes that there is a legitimate need for protectionism for domestic entrepreneurship in the developing economies as doing otherwise amount to stifling them.

Keywords: developing countries, entrepreneurship, globalization, infant-industries, protectionism, sustainable development

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964 Sustainable Development in India: Towards a New Paradigm

Authors: Raghav Srivastava, Namrata Ramachandran

Abstract:

Strong sustainability has been, by consensus, imagined as comprising economic and extra-economic variables and cannot be viewed merely in terms of a trade-off between the economic needs of today and the potential left for tomorrow. Specifically, the cultural as well the ecological impacts of development projects on the affected communities should be evaluated, in addition to the economic. In developing and densely populated economies such as India, energy intensive development is seen as a sine qua non – a necessary trade off with ecological conservation. Although social impact assessment has been included as an inalienable part of the Environmental Impact Assessment required to be conducted under Indian law, it seems that the same is unable to meet the ends it seeks to achieve. The dissociation between those bearing the costs of development, and those reaping its benefits, lies at the heart of this failure. This paper attempts to study the various cost–benefit relationships for these minority stakeholders using the proposed Nyamjang Chhu hydroelectric power plant in Tawang District of Arunachal Pradesh (in North-east India) as the chief object of study, and discusses whether the current model of sustainable development is truly sustainable, given the level of social dissociation and disintegration that occurs between affected communities and their environment. The economic allure of hydroelectric projects in the hilly regions of India very rarely results in a proper assessment of their ecological and social externalities. Examining the various issues that have been agitated in the course of litigation over the Nyamjang Chhu hydroelectric project, the authors argue that there is a pressing need to re-evaluate the current Indian model of sustainable development going forward.

Keywords: hydroelectric power, socio-cultural dissociation, sustainable development, trade offs

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963 Climate Change Effects on Agriculture

Authors: Abdellatif Chebboub

Abstract:

Agricultural production is sensitive to weather and thus directly affected by climate change. Plausible estimates of these climate change impacts require combined use of climate, crop, and economic models. Results from previous studies vary substantially due to differences in models, scenarios, and data. This paper is part of a collective effort to systematically integrate these three types of models. We focus on the economic component of the assessment, investigating how nine global economic models of agriculture represent endogenous responses to seven standardized climate change scenarios produced by two climate and five crop models. These responses include adjustments in yields, area, consumption, and international trade. We apply biophysical shocks derived from the Intergovernmental Panel on Climate Change’s representative concentration pathway with end-of-century radiative forcing of 8.5 W/m2. The mean biophysical yield effect with no incremental CO2 fertilization is a 17% reduction globally by 2050 relative to a scenario with unchanging climate. Endogenous economic responses reduce yield loss to 11%, increase area of major crops by 11%, and reduce consumption by 3%. Agricultural production, cropland area, trade, and prices show the greatest degree of variability in response to climate change, and consumption the lowest. The sources of these differences include model structure and specification; in particular, model assumptions about ease of land use conversion, intensification, and trade. This study identifies where models disagree on the relative responses to climate shocks and highlights research activities needed to improve the representation of agricultural adaptation responses to climate change.

Keywords: climate change, agriculture, weather change, danger of climate change

Procedia PDF Downloads 294
962 Malignant Idiopathic Intracranial Hypertension Revealed a Hidden Primary Spinal Leptomeningeal Medulloblastoma

Authors: Naim Izet Kajtazi

Abstract:

Context: Frequently, the cause of raised intracranial pressure remains unresolved and rarely is related to spinal tumors, moreover less to spinal medulloblastoma without primary brain focus. Process: An 18-year-old woman had a 3-month history of headaches and impaired vision. Neurological examination revealed bilateral sixth cranial nerve palsies with bilateral papilloedema of grade III. No focal brain or spine lesion was found on imaging. Consecutive lumbar punctures showed high opening pressure and subsequent increasing protein level. The meningeal biopsy was negative. At one point, she developed an increasing headache, vomiting and back pain. Spine MRI showed diffuse nodular leptomeningeal enhancement with the largest nodule at T6–T7. Malignant cells were detected in cerebrospinal fluid. She underwent laminectomy with excisional biopsy, and pathology showed medulloblastoma WHO grade IV. Outcome: She was treated with chemotherapy and craniospinal irradiation and made a good recovery. Relevance: Primary spinal leptomeningeal medulloblastoma is extremely rare, especially without primary brain focus, but may cause increased intracranial pressure, even in the early microscopic phases, and it should be considered in the differential diagnosis if conventional and aggressive treatment of idiopathic intracranial hypertension fails. We assume that arachnoiditis from tumor seeding caused increased intracranial pressure. Appropriate neurosurgical intervention and surgical biopsy are mandated if a suspicious lesion is detected. Consider proper rescreening of the whole neuroaxis in refractory cases of intracranial hypertension.

Keywords: CNS infection, IIH, headache, primary spinal leptomeningeal medulloblastoma

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961 Balancing Biodiversity and Agriculture: A Broad-Scale Analysis of the Land Sparing/Land Sharing Trade-Off for South African Birds

Authors: Chevonne Reynolds, Res Altwegg, Andrew Balmford, Claire N. Spottiswoode

Abstract:

Modern agriculture has revolutionised the planet’s capacity to support humans, yet has simultaneously had a greater negative impact on biodiversity than any other human activity. Balancing the demand for food with the conservation of biodiversity is one of the most pressing issues of our time. Biodiversity-friendly farming (‘land sharing’), or alternatively, separation of conservation and production activities (‘land sparing’), are proposed as two strategies for mediating the trade-off between agriculture and biodiversity. However, there is much debate regarding the efficacy of each strategy, as this trade-off has typically been addressed by short term studies at fine spatial scales. These studies ignore processes that are relevant to biodiversity at larger scales, such as meta-population dynamics and landscape connectivity. Therefore, to better understand species response to agricultural land-use and provide evidence to underpin the planning of better production landscapes, we need to determine the merits of each strategy at larger scales. In South Africa, a remarkable citizen science project - the South African Bird Atlas Project 2 (SABAP2) – collates an extensive dataset describing the occurrence of birds at a 5-min by 5-min grid cell resolution. We use these data, along with fine-resolution data on agricultural land-use, to determine which strategy optimises the agriculture-biodiversity trade-off in a southern African context, and at a spatial scale never considered before. To empirically test this trade-off, we model bird species population density, derived for each 5-min grid cell by Royle-Nicols single-species occupancy modelling, against both the amount and configuration of different types of agricultural production in the same 5-min grid cell. In using both production amount and configuration, we can show not only how species population densities react to changes in yield, but also describe the production landscape patterns most conducive to conservation. Furthermore, the extent of both the SABAP2 and land-cover datasets allows us to test this trade-off across multiple regions to determine if bird populations respond in a consistent way and whether results can be extrapolated to other landscapes. We tested the land sparing/sharing trade-off for 281 bird species across three different biomes in South Africa. Overall, a higher proportion of species are classified as losers, and would benefit from land sparing. However, this proportion of loser-sparers is not consistent and varies across biomes and the different types of agricultural production. This is most likely because of differences in the intensity of agricultural land-use and the interactions between the differing types of natural vegetation and agriculture. Interestingly, we observe a higher number of species that benefit from agriculture than anticipated, suggesting that agriculture is a legitimate resource for certain bird species. Our results support those seen at smaller scales and across vastly different agricultural systems, that land sparing benefits the most species. However, our analysis suggests that land sparing needs to be implemented at spatial scales much larger than previously considered. Species persistence in agricultural landscapes will require the conservation of large tracts of land, and is an important consideration in developing countries, which are undergoing rapid agricultural development.

Keywords: agriculture, birds, land sharing, land sparing

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960 An Analysis of the Wheat Export Performance of Ukraine in Europe

Authors: Kiran Bala Das

Abstract:

This paper examines the Ukraine wheat export condition after Russian-Ukrainian military confrontation. The political conflict in Ukraine and the recent military intervention of Russia in Crimea is raising concern full effect of the events there is still uncertain, but some hints can be seen in the wheat market by analyzing the trend and pattern of Ukraine wheat export. Crimea is extremely important as it is where most of Ukraine grain exported by ship from its ports of the black sea. Ukraine is again seeking to establish itself a significant exporter of agricultural product with its rich black soil, it is chornozem the top soil layer that makes the country soil so fertile and become one of the major exporter of wheat in the world, its generous supplier of wheat make Ukraine 'Bread basket of Europe'. Ukraine possesses 30% of the world’s richest black soil; its agricultural industry has huge potential especially in grains. European Union (EU) is a significant trading partner of Ukraine but geopolitical tension adversely affects the wheat trade from black sea, which threatens Europe breadbasket. This study also highlights an index of export intensity to analyze the intensity of existing trade for the period 2011-2014 between Ukraine and EU countries. The result show export has intensified over the years, but this year low trade intensity. The overall consequence is hard to determine but if the situation deteriorates and Ukraine cutoff export, international wheat price will hike and grain prices (wheat) also come under the current circumstances and the recent development indicates how the grain market get affected and Agri future now in danger in Ukraine, and its forecast that Ukraine harvest low wheat crop this year and projected decline in export of wheat.

Keywords: breadbasket of Europe, export intensity index, growth rate, wheat export

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959 Assessment of Pakistan-China Economic Corridor: An Emerging Dynamic of 21st Century

Authors: Naad-E-Ali Sulehria

Abstract:

Pakistan and china have stepped in a new phase of strengthening fraternity as the dream of economic corridor once discerned by both countries is going to take a pragmatic shape. Pak-China economic corridor an under construction program is termed to be an emerging dynamic of 21st century that anticipates a nexus between Asian continent and Indian Ocean by extending its functions to adjoining East, South, Central and Western Asian regions. The $45.6 billion worth heavily invested megaprojects by China are meant to revive energy sector and building economic infrastructure in Pakistan. Evidently, these projects are a part of ‘southern extension’ of Silk Road economic belt which is going to draw out prominent incentives for both countries particularly bolstering China to acquire influential dominance over the regional trade and beyond. In pursuit to adhere, by these progressive plans both countries have began working on their respective assignments. This article discusses the economical development programs under China’s peripheral diplomacy regarding its region-specific-approach to accumulate trade of Persian Gulf and access the landlocked Central Asian states through Pakistan in a sublimate context to break US encirclement of Asia. Pakistan’s utmost preference to utilize its strategic channel as a trade hub to become an emerging economy and surpass its arch-rival India for strategic concerns is contemplated accordingly. The needs and feasibility of the economic gateway and the dividends it can provide in the contemporary scenario are examined carefully and analysis is drawn upon the future prospects of the Pakistan-China Economic corridor once completed.

Keywords: pak-china economic corridor (PCEC), central asian republic states (CARs), new silk road economic belt, gawadar

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958 Agent-Based Simulation for Supply Chain Transport Corridors

Authors: Kamalendu Pal

Abstract:

Supply chains are the spinal cord of trade and commerce. Their logistics use different transport corridors on regular basis for operational purpose. The international supply chain transport corridors include different infrastructure elements (e.g. weighbridge, package handling equipment, border clearance authorities, and so on) in supply chains. This paper presents the use of multi-agent systems (MAS) to model and simulate some aspects of transportation corridors, and in particular the area of weighbridge resource optimization for operational profit generation purpose. An underlying multi-agent model provides a means of modeling the relationships among stakeholders in order to enable coordination in a transport corridor environment. Simulations of the costs of container unloading, reloading, and waiting time for queuing up tracks have been carried out using data sets. Results of the simulation provide the potential guidance in making decisions about optimal service resource allocation in a trade corridor.

Keywords: multi-agent systems, simulation, supply chain, transport corridor, weighbridge

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957 Paradigms of Assessment, Valuation and Quantification to Trade Ecosystem Services: A Review Focusing on Mangroves and Wetlands

Authors: Rama Seth, Luise Noring, Pratim Majumdar

Abstract:

Based on an extensive literature review, this paper presents distinct approaches to value, quantify and trade ecosystem services, with particular emphasis on services provided by mangroves and wetlands. Building on diverse monetary and market-based systems for the improved allocation of natural resources, such trading and exchange-based methods can help tackle the degradation of ecosystem services in a more targeted and structured manner than achievable with stand-alone policy and administrative regulations. Using various threads of literature, the paper proposes a platform that serves as the skeletal foundation for developing an efficient global market for ecosystem services trading. The paper bridges a significant research and practice gap by recommending how to establish an equilibrium in the biosphere via trading mechanisms while also discovering other research gaps and future research potential in the domain of ecosystem valuation.

Keywords: environment, economics, mangroves, wetlands, markets, ESG, global capital, climate investments, valuation, ecosystem services

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956 Analysis of Complex Business Negotiations: Contributions from Agency-Theory

Authors: Jan Van Uden

Abstract:

The paper reviews classical agency-theory and its contributions to the analysis of complex business negotiations and gives an approach for the modification of the basic agency-model in order to examine the negotiation specific dimensions of agency-problems. By illustrating fundamental potentials for the modification of agency-theory in context of business negotiations the paper highlights recent empirical research that investigates agent-based negotiations and inter-team constellations. A general theoretical analysis of complex negotiation would be based on a two-level approach. First, the modification of the basic agency-model in order to illustrate the organizational context of business negotiations (i.e., multi-agent issues, common-agencies, multi-period models and the concept of bounded rationality). Second, the application of the modified agency-model on complex business negotiations to identify agency-problems and relating areas of risk in the negotiation process. The paper is placed on the first level of analysis – the modification. The method builds on the one hand on insights from behavior decision research (BRD) and on the other hand on findings from agency-theory as normative directives to the modification of the basic model. Through neoclassical assumptions concerning the fundamental aspects of agency-relationships in business negotiations (i.e., asymmetric information, self-interest, risk preferences and conflict of interests), agency-theory helps to draw solutions on stated worst-case-scenarios taken from the daily negotiation routine. As agency-theory is the only universal approach able to identify trade-offs between certain aspects of economic cooperation, insights obtained provide a deeper understanding of the forces that shape business negotiation complexity. The need for a modification of the basic model is illustrated by highlighting selected issues of business negotiations from agency-theory perspective: Negotiation Teams require a multi-agent approach under the condition that often decision-makers as superior-agents are part of the team. The diversity of competences and decision-making authority is a phenomenon that overrides the assumptions of classical agency-theory and varies greatly in context of certain forms of business negotiations. Further, the basic model is bound to dyadic relationships preceded by the delegation of decision-making authority and builds on a contractual created (vertical) hierarchy. As a result, horizontal dynamics within the negotiation team playing an important role for negotiation success are therefore not considered in the investigation of agency-problems. Also, the trade-off between short-term relationships within the negotiation sphere and the long-term relationships of the corporate sphere calls for a multi-period perspective taking into account the sphere-specific governance-mechanisms already established (i.e., reward and monitoring systems). Within the analysis, the implementation of bounded rationality is closely related to findings from BRD to assess the impact of negotiation behavior on underlying principal-agent-relationships. As empirical findings show, the disclosure and reservation of information to the agent affect his negotiation behavior as well as final negotiation outcomes. Last, in context of business negotiations, asymmetric information is often intended by decision-makers acting as superior-agents or principals which calls for a bilateral risk-approach to agency-relations.

Keywords: business negotiations, agency-theory, negotiation analysis, interteam negotiations

Procedia PDF Downloads 118
955 Commercial Law Between Custom and Islamic Law

Authors: Mohamed Zakareia Ghazy Aly Belal

Abstract:

Commercial law is the set of legal rules that apply to business and regulates the trade of trade. The meaning of this is that the commercial law regulates certain relations only that arises as a result of carrying out certain businesses. which are business, as it regulates the activity of a specific sect, the sect of merchants, and the commercial law as other branches of the law has characteristics that distinguish it from other laws and various, and various sources from which its basis is derived from It is the objective or material source. the historical source, the official source and the interpretative source, and we are limited to official sources and explanatory sources. so what do you see what these sources are, and what is their degree and strength in taking it in commercial disputes. The first topic / characteristics of commercial law. Commercial law has become necessary for the world of trade and economics, which cannot be dispensed with, given the reasons that have been set as legal rules for commercial field. In fact, it is sufficient to refer to the stability and stability of the environment, and in exchange for the movement and the speed in which the commercial environment is in addition to confidence and credit. the characteristic of speed and the characteristic of trust, and credit are the ones that justify the existence of commercial law. Business is fast, while civil business is slow, stable and stability. The person concludes civil transactions in his life only a little. And before doing any civil action. he must have a period of thinking and scrutiny, and the investigation is the person who wants the husband, he must have a period of thinking and scrutiny. as if the person who wants to acquire a house to live with with his family, he must search and investigate Discuss the price before the conclusion of a purchase contract. In the commercial field, transactions take place very quickly because the time factor has an important role in concluding deals and achieving profits. This is because the merchant in contracting about a specific deal would cause a loss to the merchant due to the linkage of the commercial law with the fluctuations of the economy and the market. The merchant may also conclude more than one deal in one and short time. And that is due to the absence of commercial law from the formalities and procedures that hinder commercial transactions.

Keywords: law, commercial law, business, commercial field

Procedia PDF Downloads 48
954 Macroeconomic Policy Coordination and Economic Growth Uncertainty in Nigeria

Authors: Ephraim Ugwu, Christopher Ehinomen

Abstract:

Despite efforts by the Nigerian government to harmonize the macroeconomic policy implementations by establishing various committees to resolve disputes between the fiscal and monetary authorities, it is still evident that the federal government had continued its expansionary policy by increasing spending, thus creating huge budget deficit. This study evaluates the effect of macroeconomic policy coordination on economic growth uncertainty in Nigeria from 1980 to 2020. Employing the Auto regressive distributed lag (ARDL) bound testing procedures, the empirical results shows that the error correction term, ECM(-1), indicates a negative sign and is significant statistically with the t-statistic value of (-5.612882 ). Therefore, the gap between long run equilibrium value and the actual value of the dependent variable is corrected with speed of adjustment equal to 77% yearly. The long run coefficient results showed that the estimated coefficients of the intercept term indicates that other things remains the same (ceteris paribus), the economics growth uncertainty will continue reduce by 7.32%. The coefficient of the fiscal policy variable, PUBEXP, indicates a positive sign and significant statistically. This implies that as the government expenditure increases by 1%, economic growth uncertainty will increase by 1.67%. The coefficient of monetary policy variable MS also indicates a positive sign and insignificant statistically. The coefficients of merchandise trade variable, TRADE and exchange rate EXR show negative signs and significant statistically. This indicate that as the country’s merchandise trade and the rate of exchange increases by 1%, the economic growth uncertainty reduces by 0.38% and 0.06%, respectively. This study, therefore, advocate for proper coordination of monetary, fiscal and exchange rate policies in order to actualize the goal of achieving a stable economic growth.

Keywords: macroeconomic, policy coordination, growth uncertainty, ARDL, Nigeria

Procedia PDF Downloads 74
953 Human Trafficking and Terrorism: A Study on the Security Challenges Imposed upon Countries in Conflict

Authors: Christopher Holroyd

Abstract:

With the various terrorist organizations and drug cartels that are currently active, there is a myriad of security concerns facing countries around the world. Organizations that focus their attacks on others through terror, such as what is seen with the Islamic State of Iraq and the Levant (ISIS), have no boundaries when it comes to doing what is needed to fulfill their desired intent. For countries such as Iraq, who have been trying to rebuild their country since the fall of the Saddam Hussein Regime, organizations such as Al-Qaeda and ISIS have been impeding the country’s efforts toward peace and stability. One method utilized by terrorist organizations around the world is human trafficking. This method is one that is seen around the world; modern slavery is still exploited by those who have no concern for human decency and morality, their only concern is to achieve their goals by any means. It is understandable that some people may not have even heard of 'modern slavery', or they just might not believe that it is even an issue in today’s world. Organizations such as ISIS are not the only ones in the world that seek to benefit from the immoral trading of humans. Various drug cartels in the world, such as those seen in Mexico and Central America, have recently begun to take part in the trade – moving humans from state to state, or country to country, to better fuel their overall operations. This now makes the possibility of human trafficking more real for those in the United States because of the proximity of the cartels to the southern border of the country. An issue that, at one time, might have only seen as a distant threat, is now close to home for those in the United States. Looking at these two examples is how we begin to understand why human trafficking is utilized by various organizations around the world. This trade of human beings and the violation of basic human rights is a plague that effects the entire world and not just those that are in a country other than your own. One of the security issues that stem from the trade includes the movement and recruitment of members of the organizations. With individuals being smuggled from one location to another in secrecy, this only puts those trying to combat this trade at a disadvantage. This creates concern over the accurate number of potential recruits, combatants, and other individuals who are working against the host nation, and for the mission of the cartel or terrorist organization they are a part of. An uphill battle is created, and the goals of peace and stability are now harder to reach. Aside from security aspects, it cannot be forgotten that those being traded and forced into slavery, are being done so against their will. Families are separated, children trained to be fighters or worse. This makes the goal of eradicating human trafficking even more dire and important.

Keywords: human trafficking, reconstruction, security, terrorism

Procedia PDF Downloads 116
952 Research of the Factors Affecting the Administrative Capacity of Enterprises in the Logistic Sector of Bulgaria

Authors: R. Kenova, K. Anguelov, R. Nikolova

Abstract:

The human factor plays a major role in boosting the competitive capacity of logistic enterprises. This is of particular importance when it comes to logistic companies. On the one hand they should be strictly compliant with legislation; on the other hand, they should be competitive in terms of pricing and of delivery timelines. Moreover, their policies should allow them to be as flexible as possible. All these circumstances are reason for very serious challenges for the qualification, motivation and experience of the human resources, working in logistic companies or in logistic departments of trade and industrial enterprises. The geographic place of Bulgaria puts it in position of a country with some specific competitive advantages in the goods transport from Europe to Asia and back. Along with it, there is a number of logistic companies, that operate in this sphere in Bulgaria. In the current paper, the authors aim to establish the condition of the administrative capacity and human resources in the logistic companies and logistic departments of trade and industrial companies in Bulgaria in order to propose some guidelines for improving of their effectiveness. Due to independent empirical research, conducted in Bulgarian logistic, trade and industrial enterprises, the authors investigate both the impact degree and the interdependence of various factors that characterize the administrative capacity. The study is conducted with a prepared questionnaire, in format of direct interview with the respondents. The volume of the poll is 50 respondents, representatives of: general managers of industrial or trade enterprises; logistic managers of industrial or trade enterprises; general managers of forwarding companies – either with own or with hired transport; experts from Bulgarian association of logistics; logistic lobbyist and scientists of the relevant area. The data are gathered for 3 months, then arranged by a specialized software program and analyzed by preset criteria. Based on the results of this methodological toolbox, it can be claimed that there is a correlation between the individual criteria. Also, a commitment between the administrative capacity and other factors that determine the competitiveness of the studied companies is established. In this paper, the authors present results of the empirical research that concerns the number and the workload in the logistic departments of the enterprises. Also, what is commented is the experience, related to logistic processes management and human resources competence. Moreover, the overload level of the logistic specialists is analyzed as one of the main threats for making mistakes and losing clients. The paper stands behind the thesis that there is indispensability of forming an effective and efficient administrative capacity, based on the number, qualification, experience and motivation of the staff in the logistic companies. The paper ends with recommendations about the qualification and experience of the specialists in logistic departments; providing effective and efficient administrative capacity in the logistic departments; interdependence of the human factor and the other factors that influence the enterprise competitiveness.

Keywords: administrative capacity, human resources, logistic competitiveness, staff qualification

Procedia PDF Downloads 126
951 Transaction Cost Analysis, Execution Quality, and Best Execution under MiFID II

Authors: Rodrigo Zepeda

Abstract:

Transaction cost analysis (TCA) is a way of analyzing the relative performance of different intermediaries and different trading strategies for trades undertaken in financial instruments. It is a way for an investor to determine the overall quality of execution of a particular trade, and there are many different approaches to undertaking TCA. Under the updated Markets in Financial Instruments Directive (2014/65/EU) (MiFID II), investment firms are required when executing orders, to take all sufficient steps to obtain the best possible result for their clients. This requirement for 'Best Execution' must take into account price, costs, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to the execution of the order. The new regulatory compliance framework under MiFID II will now also apply across a very broad range of financial instruments. This article will provide a comprehensive technical analysis of how TCA and Best Execution will significantly change under MiFID II. It will also explain why harmonization of post-trade reporting requirements under MiFID II could potentially support the development of peer group analysis, which in turn could provide a new and highly advanced framework for TCA that could more effectively support Best Execution requirements under MiFID II. The study is significant because there are no studies that have dealt with TCA and Best Execution under MiFID II in the literature.

Keywords: transaction cost analysis, execution quality, best execution, MiFID II, financial instruments

Procedia PDF Downloads 273
950 A Study of Inter-Media Discourse Construction on Sino-US Trade Friction Based on Network Agenda Setting Theory

Authors: Wanying Xie

Abstract:

Under the background of the increasing Sino-US trade friction, the two nations pay more attention to the medias’ words. This paper mainly studies the causality, effectiveness, and influence of discourse construction between traditional media and social media. Based on the Network Agenda Setting theory, a kind of associative memory pattern in Psychology, who focuses on how media affect audiences’ cognition of issues and attributes, as well as the significance of the relation between people and matters. The date of the sample chosen in this paper ranges from March 23, 2018, to April 30, 2019. A total of 395 Tweets of Donald Trump are obtained, and 731 related reports are collected from the mainstream American newspapers including New York Times, the Washington Post and the Washington Street, by using Factiva and other databases. The sample data are processed by MAXQDA while the media discourses are analyzed by SPSS and Cite Space, with an aim to study: 1) whether the inter-media discourse construction exists; 2) which media (traditional media V.S. social media) is dominant; 3) the causality between two media. The results show: 1) the discourse construction between three American mainstream newspapers and Donald Trump's Twitter is proved in some periods; 2) the dominant position is extremely depended on the events; 3) the causality between two media is decided by many reasons. New media technology shortens the time of agenda-setting effect to one day or less. By comparing the specific relation between the three major American newspapers and Donald Trump’s Twitter, whose popularity and influence could be reflected. Hopefully, this paper could enable readers to have a more comprehensive understanding of the international media language and political environment.

Keywords: discourse construction, media language, network agenda-setting theory, sino-us trade friction

Procedia PDF Downloads 234
949 Discussing Embedded versus Central Machine Learning in Wireless Sensor Networks

Authors: Anne-Lena Kampen, Øivind Kure

Abstract:

Machine learning (ML) can be implemented in Wireless Sensor Networks (WSNs) as a central solution or distributed solution where the ML is embedded in the nodes. Embedding improves privacy and may reduce prediction delay. In addition, the number of transmissions is reduced. However, quality factors such as prediction accuracy, fault detection efficiency and coordinated control of the overall system suffer. Here, we discuss and highlight the trade-offs that should be considered when choosing between embedding and centralized ML, especially for multihop networks. In addition, we present estimations that demonstrate the energy trade-offs between embedded and centralized ML. Although the total network energy consumption is lower with central prediction, it makes the network more prone for partitioning due to the high forwarding load on the one-hop nodes. Moreover, the continuous improvements in the number of operations per joule for embedded devices will move the energy balance toward embedded prediction.

Keywords: central machine learning, embedded machine learning, energy consumption, local machine learning, wireless sensor networks, WSN

Procedia PDF Downloads 125
948 Developing Logistics Indices for Turkey as an an Indicator of Economic Activity

Authors: Gizem İntepe, Eti Mizrahi

Abstract:

Investment and financing decisions are influenced by various economic features. Detailed analysis should be conducted in order to make decisions not only by companies but also by governments. Such analysis can be conducted either at the company level or on a sectoral basis to reduce risks and to maximize profits. Sectoral disaggregation caused by seasonality effects, subventions, data advantages or disadvantages may appear in sectors behaving parallel to BIST (Borsa Istanbul stock exchange) Index. Proposed logistic indices could serve market needs as a decision parameter in sectoral basis and also helps forecasting activities in import export volume changes. Also it is an indicator of logistic activity, which is also a sign of economic mobility at the national level. Publicly available data from “Ministry of Transport, Maritime Affairs and Communications” and “Turkish Statistical Institute” is utilized to obtain five logistics indices namely as; exLogistic, imLogistic, fLogistic, dLogistic and cLogistic index. Then, efficiency and reliability of these indices are tested.

Keywords: economic activity, export trade data, import trade data, logistics indices

Procedia PDF Downloads 313
947 Commercial Law Between Custom and Islamic Law

Authors: Shimaa Abdel-Rahman Amin El-Badawy

Abstract:

Commercial law is the set of legal rules that apply to business and regulates the trade of trade. The meaning of this is that the commercial law regulates certain relations only that arises as a result of carrying out certain businesses. which are business, as it regulates the activity of a specific sect, the sect of merchants, and the commercial law as other branches of the law has characteristics that distinguish it from other laws and various, and various sources from which its basis is derived from It is the objective or material source. the historical source, the official source and the interpretative source, and we are limited to official sources and explanatory sources. so what do you see what these sources are, and what is their degree and strength in taking it in commercial disputes. The first topic / characteristics of commercial law. Commercial law has become necessary for the world of trade and economics, which cannot be dispensed with, given the reasons that have been set as legal rules for commercial field.In fact, it is sufficient to refer to the stability and stability of the environment, and in exchange for the movement and the speed in which the commercial environment is in addition to confidence and credit. the characteristic of speed and the characteristic of trust, and credit are the ones that justify the existence of commercial law.Business is fast, while civil business is slow, stable and stability. The person concludes civil transactions in his life only a little. And before doing any civil action. he must have a period of thinking and scrutiny, and the investigation is the person who wants the husband, he must have a period of thinking and scrutiny. as if the person who wants to acquire a house to live with with his family, he must search and investigate. Discuss the price before the conclusion of a purchase contract. In the commercial field, transactions take place very quickly because the time factor has an important role in concluding deals and achieving profits. This is because the merchant in contracting about a specific deal would cause a loss to the merchant due to the linkage of the commercial law with the fluctuations of the economy and the market. The merchant may also conclude more than one deal in one and short time. And that is due to the absence of commercial law from the formalities and procedures that hinder commercial transactions.

Keywords: law, commercial law, Islamic law, custom and Islamic law

Procedia PDF Downloads 51
946 Renegotiating International Contract Clauses: The Case of Investment Environment Changes in Egypt

Authors: Marwa Zein

Abstract:

The long-term of the contract is one of the major features that distinguish international trade and investment contracts from other internal contracts. This is due to the nature of the contract and the huge works required to be performed from one hand or the desire of the parties to achieve stability in their transactions. However, long-term contracts might expose them to certain events and circumstances that impact the capability of the parties to execute their obligations pursuant to these contracts. During the year 2016, the Egyptian government has taken series of economic decisions which greatly impacted the economic and investment environment. Consequently, many contracts have encountered many problems in their execution due to such changes that greatly influence the performance of their obligation, a matter that necessitated the renegotiation of the conditions of these contracts on the basis of the unpredicted changes that could be listed under the Force Majeure Clause. The principle of fair and equitable treatment in investment placed on an obligation on the Egyptian government to consider the renegotiation of contract clauses based on the new conditions. This paper will discuss the idea of renegotiating international trade and investment contracts in Egypt with reference to the changes the economic environment has witnessed lately.

Keywords: change of circumstances, international contracts, investment contracts, renegotiation

Procedia PDF Downloads 175