Search results for: bank deposits

Authors: Adarsh Patil, David A. Power, John P. Morrison

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Grid environments consist of the volatile integration of discrete heterogeneous resources. The notion of the Grid is to unite different users and organisations and pool their resources into one large computing platform where they can harness, inter-operate, collaborate and interact. If the Grid Community is to achieve this objective, then participants (Users and Organisations) need to be willing to donate or share their resources and permit other participants to use their resources. Resources do not have to be shared at all times, since it may result in users not having access to their own resource. The idea of reward-based computing was developed to address the sharing problem in a pragmatic manner. Participants are offered a reward to donate their resources to the Grid. A reward may include monetary recompense or a pro rata share of available resources when constrained. This latter point may imply a quality of service, which in turn may require some globally agreed reservation mechanism. This paper presents a platform for economybased computing using the WebCom Grid middleware. Using this middleware, participants can configure their resources at times and priority levels to suit their local usage policy. The WebCom system accounts for processing done on individual participants- resources and rewards them accordingly.

Keywords: WebCom, Economy-based computing, WebComGrid Bank Reward, Condensed Graph, Distributor, Accounting, GridPoint.

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Authors: M. van der Bank

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This study involves a legal analysis of the case Earthlife Africa Johannesburg v Minister of Environmental Affairs and Others. The case considered the impact of the Thabametsi Power Project if it operated to the expected year 2060 on the global climate and ever-changing climate, in South Africa. This judgment highlights the significance, place and principles of climate change and where climate change impacts the South African environmental law which has its founding principles in the Constitution of the Republic of South Africa, 1996. This paper seeks to examine the advances for climate change regulation and application in terms of international law, in South Africa, through a qualitative study involving comparative national and international case law. A literature review study was conducted to compare and contrast the various aspects of law in order to support the argument undertaken. The paper presents a detailed discussion of the current legislation and the position as it currently stands with reference to international law and interpretation. The relevant protections as outlined in the National Environmental Management Act will be discussed. It then proceeds to outline the potential liability of the Minister in the interpretation and application of international law.

Keywords: Climate change, environment, environmental review, international law, principles.

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Authors: S. Esakkirajan, T. Veerakumar, V. Senthil Murugan, R. Sudhakar

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This paper presents a new fingerprint coding technique based on contourlet transform and multistage vector quantization. Wavelets have shown their ability in representing natural images that contain smooth areas separated with edges. However, wavelets cannot efficiently take advantage of the fact that the edges usually found in fingerprints are smooth curves. This issue is addressed by directional transforms, known as contourlets, which have the property of preserving edges. The contourlet transform is a new extension to the wavelet transform in two dimensions using nonseparable and directional filter banks. The computation and storage requirements are the major difficulty in implementing a vector quantizer. In the full-search algorithm, the computation and storage complexity is an exponential function of the number of bits used in quantizing each frame of spectral information. The storage requirement in multistage vector quantization is less when compared to full search vector quantization. The coefficients of contourlet transform are quantized by multistage vector quantization. The quantized coefficients are encoded by Huffman coding. The results obtained are tabulated and compared with the existing wavelet based ones.

Keywords: Contourlet Transform, Directional Filter bank, Laplacian Pyramid, Multistage Vector Quantization

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Authors: Chiu-Wen Chen, Chih-Feng Chen, Cheng-Di Dong

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The distribution, enrichment, accumulation, and potential ecological risk of copper (Cu) in the surface sediments of northern Kaohsiung Harbor, Taiwan were investigated. Sediment samples from 12 locations of northern Kaohsiung Harbor were collected and characterized for Cu, aluminum, water content, organic matter, total nitrogen, total phosphorous, total grease and grain size. Results showed that the Cu concentrations varied from 6.9–244 mg/kg with an average of 109±66 mg/kg. The spatial distribution of Cu reveals that the Cu concentration is relatively high in the river mouth region, and gradually diminishes toward the harbor entrance region. This indicates that upstream industrial and municipal wastewater discharges along the river bank are major sources of Cu pollution. Results from the enrichment factor and geo-accumulation index analyses imply that the sediments collected from the river mouth can be characterized between moderate and moderately severe degree enrichment and between none to medium and moderate accumulation of Cu, respectively. However, results of potential ecological risk index indicate that the sediment has low ecological potential risk.

Keywords: Accumulation, ecological risk, enrichment, copper, sediment.

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Authors: Gitimoni Deka, Krishna G Bhattacharyya

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The textile industry produces highly coloured effluents containing polar and non-polar compounds. The textile mill run by the Assam Polyester Co-operative Society Limited (APOL) is situated at Rangia, about 55 km from Guwahati (26011' N, 91047' E) in the northern bank of the river Brahmaputra, Assam (India). This unit was commissioned in June 1988 and started commercial production in November 1988. The installed capacity of the weaving unit was 8000 m/day and that of the processing unit was 20,000 m/day. The mill has its own dyeing unit with a capacity of 1500-2000 kg/day. The western side of the mill consists of vast agricultural land and the far northern and southern side of the mill has scattered human population. The eastern side of the mill has a major road for thoroughfare. The mill releases its effluents into the agricultural land in the western side of the mill. The present study was undertaken to assess the impact of the textile mill on surface soil quality in and around the mill with particular reference to Cr, Mn, Ni and Zn. Surface soil samples, collected along different directions at 200, 500 and 1000 m were digested and the metals were estimated with Atomic Absorption Spectrophotometer. The metals were found in the range of: Cr 50.9 – 105.0 mg kg-1, Mn 19.2- 78.6 mg kg-1, Ni 41.9 – 50.6 mg kg-1 and Zn 187.8 – 1095.8 mg kg-1. The study reveals enrichment of Cr, Mn, Ni and Zn in the soil near the textile mill.

Keywords: Cr, Mn, Ni, Zn, soil quality, heavy metal enrichment.

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Authors: Maia Margvelashvili, Kakhaber Cheishvili, Ineza Vatsadze

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In Capitalism all economic activity rests upon a set of core institutional foundations, main from which are privately owned capital assets and profit. How these core institutional foundations are working in former soviet countries, in particular in Travel and Tourism Industry of Georgia? The role of Travel and Tourism as a key pillar of economic growth is being increasingly recognized by governments in all regions of the world. For the last few years Georgia succeeded in the World Bank and IFC “Doing Business” rankings. Despite of that, during decades totally different statistical data of the tourism sector were provided by the different State bodies; economic parameters were published few, or not published at all. The frequency and extent of property rights violation in Georgia has repeatedly been the subject of concern for the last decade. Total value of abrogated by the former Georgian Government private property is estimated approximately in US$4-5 billion. Thus, if economic profitability is unknown and property rights are not protected – that means that the main institutional foundations of capitalism in Georgia, are not working properly yet, that cause management problems at all levels of the national Travel and Tourism industry of Georgia.

Keywords: Institutional foundations of capitalism, Tourism management, Transition stage.

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Authors: Nidal F. Shilbayeh, Remah W. Al-Khatib, Sameer A. Nooh

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Arabic offline handwriting recognition systems are considered as one of the most challenging topics. Arabic Handwritten Numeral Strings are used to automate systems that deal with numbers such as postal code, banking account numbers and numbers on car plates. Segmentation of connected numerals is the main bottleneck in the handwritten numeral recognition system.  This is in turn can increase the speed and efficiency of the recognition system. In this paper, we proposed algorithms for automatic segmentation and feature extraction of Arabic handwritten numeral strings based on Watershed approach. The algorithms have been designed and implemented to achieve the main goal of segmenting and extracting the string of numeral digits written by hand especially in a courtesy amount of bank checks. The segmentation algorithm partitions the string into multiple regions that can be associated with the properties of one or more criteria. The numeral extraction algorithm extracts the numeral string digits into separated individual digit. Both algorithms for segmentation and feature extraction have been tested successfully and efficiently for all types of numerals.

Keywords: Handwritten numerals, segmentation, courtesy amount, feature extraction, numeral recognition.

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Authors: Vivek Agrawal, Vikas Tripathi, Nitin Seth

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This study examines several critical dimensions of eservice quality overlooked in the existing literature and proposes a model and instrument framework for measuring customer perceived e-service quality in the banking sector. The initial design was derived from a pool of instrument dimensions and their items from the existing literature review by content analysis. Based on focused group discussion, nine dimensions were extracted. An exploratory factor analysis approach was applied to data from a survey of 323 respondents. The instrument has been designed specifically for the banking sector. Research data was collected from bank customers who use electronic banking in a developing economy. A nine-factor instrument has been proposed to measure the e-service quality. The instrument has been checked for reliability. The validity and sample place limited the applicability of the instrument across economies and service categories. Future research must be conducted to check the validity. This instrument can help bankers in developing economies like India to measure the e-service quality and make improvements. The present study offers a systematic procedure that provides insights on to the conceptual and empirical comprehension of customer perceived e-service quality and its constituents.

Keywords: Testing, instrument, e-service quality, factor analysis.

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Authors: Fereshteh M. Haskouei, Habib Alimohammadian

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Magnetic susceptibility (χ) is operational to identify of late quaternary glacial-interglacial cycles in loess-paleosol sequences. It is well accepted that many loess-paleosol sequences bear witness to cold-dry/warm-humid periods, well known as glacial-interglacial cycles, respectively. For this study, loess-paleosol sequence of north-east of Iran was magnetically investigated. The study area is situated at about 8 km away of Neka city, on the main road of Sari-Behshahr, in Mazandaran Province, north of Iran. The youngest deposits of study area are the late Quaternary wind-blown accumulations. In this study, the total number of 117 samples was collected from loess-paleosols units. After that, the natural remnant magnetization (NRM) and magnetic susceptibility (MS) of the samples were measured. Variation of MS of more than 110 loess samples was plotted to reveal the correlation of the MS and paleoclimatic changes. This study aims reconstruction of climatic changes (glacial-interglacial and stadials-interstadials cycles). To confirm our results we compared MS (χ) and the curves of other investigations in paleoclimatology. This correspondence abled us to recognize worldly events in the study area such as: Younger Dryas, the Last Glacial Maximum (LGM), deglaciation of Northern Hemisphere etc. The obtained magnetic data indicate that during almost 50 ka, at least two glacial-interglacial periods occurred in north-east of Iran. Further, variation of χ values revealed short period of climatically cycles known as stadials-interstadials. We recognized 4 stadials and a single stadial as colder sub-periods for S₀ (recently soil-paleosol) and S₂ (lower paleosol), respectively, Moreover, we recognized 6 warmer sub-periods (interstadials) for L₁ (upper loess) and one interstadial L₂ (lower loess).

Keywords: Glacial-interglacial cycles, Iran, last glacial maximum, loess, magnetic susceptibility (χ), Neka, Stadials-Interstadials sub-periods, younger dryas.

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Authors: Okezie A. Ihugba

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The bounds testing ARDL (2, 2, 2, 2, 0) technique to cointegration was used in this study to investigate the effect of energy consumption and energy loss on Nigeria's manufacturing sector from 1981 to 2020. The model was created to determine the relationship between these three variables while also accounting for interactions with control variables such as inflation and commercial bank loans to the manufacturing sector. When the dependent variables are energy consumption and energy loss, the bound tests show that the variables of interest are bound together in the long run. Because electricity consumption is a critical factor in determining manufacturing value-added in Nigeria, some intriguing observations were made. According to the findings, the relationship between log of electricity consumption (LELC) and log of manufacturing value added (LMVA) is statistically significant. According to the findings, electricity consumption reduces manufacturing value-added. The target variable (energy loss) is statistically significant and has a positive sign. In Nigeria, a 1% reduction in energy loss increases manufacturing value-added by 36% in the first lag and 35% in the second. According to the study, the government should speed up the ongoing renovation of existing power plants across the country, as well as the construction of new gas-fired power plants. This will address a number of issues, including overpricing of electricity as a result of grid failure.

Keywords: ARDL, cointegration, Nigeria's manufacturing, electricity.

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Authors: Prateep Wajeetongratana

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The purpose of this research was to study the influence of accountants’ potential performance on their working process, a case study of Government Savings Banks in the northeast of Thailand. The independent variables included accounting knowledge, accounting skill, accounting value, accounting ethics, and accounting attitude, while the dependent variable included the success of the working process. A total of 155 accountants working for Government Savings Banks were selected by random sampling. A questionnaire was used as a tool for collecting data. Descriptive statistics in this research included percentage, mean, and multiple regression analyses.

The findings revealed that the majority of accountants were female with an age between 35-40 years old. Most of the respondents had an undergraduate degree with ten years of experience. Moreover, the factors of accounting knowledge, accounting skill, accounting a value and accounting ethics and accounting attitude were rated at a high level. The findings from regression analysis of observation data revealed a causal relationship in that the observation data could explain at least 51 percent of the success in the accountants’ working process.

Keywords: Influence, Potential Performance, Success, Working Process.

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Authors: Pascal Mwenge, Tumisang Seodigeng

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The combination of world population and the third industrial revolution led to high demand for fuels. On the other hand, the decrease of global fossil 8fuels deposits and the environmental air pollution caused by these fuels has compounded the challenges the world faces due to its need for energy. Therefore, new forms of environmentally friendly and renewable fuels such as biodiesel are needed. The primary analytical techniques for methanolysis yield monitoring have been chromatography and spectroscopy, these methods have been proven reliable but are more demanding, costly and do not provide real-time monitoring. In this work, the in situ monitoring of biodiesel from sunflower oil using FTIR (Fourier Transform Infrared) has been studied; the study was performed using EasyMax Mettler Toledo reactor equipped with a DiComp (Diamond) probe. The quantitative monitoring of methanolysis was performed by building a quantitative model with multivariate calibration using iC Quant module from iC IR 7.0 software. 15 samples of known concentrations were used for the modelling which were taken in duplicate for model calibration and cross-validation, data were pre-processed using mean centering and variance scale, spectrum math square root and solvent subtraction. These pre-processing methods improved the performance indexes from 7.98 to 0.0096, 11.2 to 3.41, 6.32 to 2.72, 0.9416 to 0.9999, RMSEC, RMSECV, RMSEP and R2Cum, respectively. The R² value of 1 (training), 0.9918 (test), 0.9946 (cross-validation) indicated the fitness of the model built. The model was tested against univariate model; small discrepancies were observed at low concentration due to unmodelled intermediates but were quite close at concentrations above 18%. The software eliminated the complexity of the Partial Least Square (PLS) chemometrics. It was concluded that the model obtained could be used to monitor methanol of sunflower oil at industrial and lab scale.

Keywords: Biodiesel, calibration, chemometrics, FTIR, methanolysis, multivariate analysis, transesterification.

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Authors: Francesca Affortunato, Edgardo Bucciarelli, Mariateresa Ciommi, Gianfranco Giulioni

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The paper represents a reflection on how to select proper indicators to assess the progress of regional contexts towards a knowledge-based society. Taking the first research methodologies elaborated at an international level (World Bank, OECD, etc.) as a reference point, this work intends to identify a set of indicators of the knowledge economy suitable to adequately understand in which manner and to which extent the territorial development dynamics are correlated with the knowledge-base of the considered local society. After a critical survey of the variables utilized within other approaches adopted by international or national organizations, this paper seeks to elaborate a framework of variables, named Regional Knowledge Economy Indicators (ReKEI), necessary to describe the knowledge-based relations of subnational socio-economic contexts. The realization of this framework has a double purpose: an analytical one consisting in highlighting the regional differences in the governance of knowledge based processes, and an operative one consisting in providing some reference parameters for contributing to increasing the effectiveness of those economic policies aiming at enlarging the knowledge bases of local societies.

Keywords: Knowledge economy, knowledge society, information society, regional innovation system, territorial competitiveness, local development.

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Authors: Naveed Ghani, Samreen Javed

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In today’s heterogeneous network environment, there is a growing demand for distrust clients to jointly execute secure network to prevent from malicious attacks as the defining task of propagating malicious code is to locate new targets to attack. Residual risk is always there no matter what solutions are implemented or whet so ever security methodology or standards being adapted. Security is the first and crucial phase in the field of Computer Science. The main aim of the Computer Security is gathering of information with secure network. No one need wonder what all that malware is trying to do: It's trying to steal money through data theft, bank transfers, stolen passwords, or swiped identities. From there, with the help of our survey we learn about the importance of white listing, antimalware programs, security patches, log files, honey pots, and more used in banks for financial data protection but there’s also a need of implementing the IPV6 tunneling with Crypto data transformation according to the requirements of new technology to prevent the organization from new Malware attacks and crafting of its own messages and sending them to the target. In this paper the writer has given the idea of implementing IPV6 Tunneling Secessions on private data transmission from financial organizations whose secrecy needed to be safeguarded.

Keywords: Network worms, malware infection propagating malicious code, virus, security, VPN.

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Authors: Ajibola O. Akinrinde, Andrew Swanson, Remy Tiako

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There exist significant losses on transmission lines due to distance, as power generating stations could be located far from some isolated settlements. Standalone wind farms could be a good choice of alternative power generation for such settlements that are far from the grid due to factors of long distance or socio-economic problems. However, uncompensated wind farms consume reactive power since wind turbines are induction generators. Therefore, capacitor banks are used to compensate reactive power, which in turn improves the voltage profile of the network. Although capacitor banks help improving voltage profile, they also undergo switching actions due to its compensating response to the variation of various types of load at the consumer’s end. These switching activities could cause transient overvoltage on the network, jeopardizing the end-life of other equipment on the system. In this paper, the overvoltage caused by these switching activities is investigated using the IEEE bus 14-network to represent a standalone wind farm, and the simulation is done using ATP/EMTP software. Scenarios involving the use of pre-insertion resistor and pre-insertion inductor, as well as controlled switching was also carried out in order to decide the best mitigation option to reduce the overvoltage.

Keywords: Capacitor banks, IEEE bus 14-network, Pre-insertion resistor, Standalone wind farm.

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Authors: Chimaobi Valentine Okolo, Chizoba Obidigbo

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As a basic physiology need, threat to sufficient food production is threat to human survival. Food security has been an issue that has gained global concern. This paper looks at the food security in Nigeria by assessing the availability of food and accessibility of the available food. The paper employed multiple linear regression technique and graphic trends of growth rates of relevant variables to show the situation of food security in Nigeria. Results of the tests revealed that population growth rate was higher than the growth rate of food availability in Nigeria for the earlier period of the study. Commercial bank credit to agricultural sector, foreign exchange utilization for food and the Agricultural Credit Guarantee Scheme Fund (ACGSF) contributed significantly to food availability in Nigeria. Food prices grew at a faster rate than the average income level, making it difficult to access sufficient food. It implies that prior to the year 2012; there was insufficient food to feed the Nigerian populace. However, continued credit to the food and agricultural sector will ensure sustained and sufficient production of food in Nigeria. Microfinance banks should make sufficient credit available to smallholder farmer. Government should further control and subsidize the rising price of food to make it more accessible by the people.

Keywords: Food security, food availability and food accessibility.

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Authors: Punya Tepsing

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This research aimed to study the beliefs in auspicious materials of entrepreneurs in Muang Hat Yai. The data were collected via documentary research and field work including interviews, observations shops in Hat Yai which used auspicious materials to bring lucks to the shops. The results were as follows. The beliefs in auspicious materials that the entrepreneurs had were of three areas: 1) The auspicious materials could correct the improperness of the shop location, for example, the shop situated opposite a branch road, a shrine, or a bank. The owner usually corrected it by putting Chinese auspicious materials in front of or in the shop, for example, a lion holding a sword in his mouth, or a mirror, etc. 2) The auspicious materials could bring in more income. The owner of the shop usually put the auspicious materials such as a cat beckoning and a bamboo fish trap believed to trap money in front of or inside the shop. 3) The auspicious materials like turtles, paired fish and a monster holding the moon in his mouth could solve life problems including health, family, and safety problems. The use of these auspicious materials showed the blending of the beliefs of the Chinese shop entrepreneurs with the Thai folk beliefs. What is interesting is that Hat Yai is located near the three southern border provinces which are the unrest area and this may cause the number of tourists to decline. This prompted them to build a mechanism in adjusting themselves both to save their lives and to increase the number of customers. Auspicious materials can make them feel more confident.

Keywords: Belief, auspicious materials, shop, entrepreneur, Maung Hat Yai.

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Authors: Alireza Azimi Sani , Shahram Chaharmahalie

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Internal controls of accounting are an essential business function for a growth-oriented organization, and include the elements of risk assessment, information communications and even employees' roles and responsibilities. Internal controls of accounting systems are designed to protect a company from fraud, abuse and inaccurate data recording and help organizations keep track of essential financial activities. Internal controls of accounting provide a streamlined solution for organizing all accounting procedures and ensuring that the accounting cycle is completed consistently and successfully. Implementing a formal Accounting Procedures Manual for the organization allows the financial department to facilitate several processes and maintain rigorous standards. Internal controls also allow organizations to keep detailed records, manage and organize important financial transactions and set a high standard for the organization's financial management structure and protocols. A well-implemented system also reduces the risk of accounting errors and abuse. A well-implemented controls system allows a company's financial managers to regulate and streamline all functions of the accounting department. Internal controls of accounting can be set up for every area to track deposits, monitor check handling, keep track of creditor accounts, and even assess budgets and financial statements on an ongoing basis. Setting up an effective accounting system to monitor accounting reports, analyze records and protect sensitive financial information also can help a company set clear goals and make accurate projections. Creating efficient accounting processes allows an organization to set specific policies and protocols on accounting procedures, and reach its financial objectives on a regular basis. Internal accounting controls can help keep track of such areas as cash-receipt recording, payroll management, appropriate recording of grants and gifts, cash disbursements by authorized personnel, and the recording of assets. These systems also can take into account any government regulations and requirements for financial reporting.

Keywords: Internal controls, risk assessment, financial management.

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Authors: Ana Mouro, Ana Ramalheira

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Since 1989, with the Fall of the Berlin Wall, Germany has undergone a profound restructuring political and economic process. When the Euro Crisis broke out, Germany was no longer the “sick man” of Europe. Instead, it had recovered its dominance as the strongest and wealthiest economy within the European Union. With the European Debt Crisis, that has been taking place in the European Union since the end of 2009, Germany´s Chancellor Angela Merkel has gained the power of deciding, so to say, on the fate of the debtor nations, but she neither stands for binding German commitments, nor refuses assistance. A debate on whether Merkel’s hesitation has been deliberated and used as a means of coercion has arisen on international print media, and the Portuguese Press has been no exception. This study, which was conducted by using news reporting, opinion articles, interviews and editorials, published in the Portuguese weekly Expresso and the daily Público, from 2008 to 2015, tries to show how Merkel’s hesitation, depicted in the press by the term “Merkiavelli”, was perceived in Portugal, a country that had to embrace the austerity measures, imposed by the European Central Bank, but defined under Angela Merkel´s leading role.

Keywords: Euro crisis, “Merkiavelli”, cultural studies, Portuguese quality press.

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Authors: A. Asgharzadeh, M. Maroufi

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5G mobile communication system has drawn more and more attention. The 5G system needs to provide three different types of services, including enhanced Mobile BroadBand (eMBB), massive machine-type communication (mMTC), and ultra-reliable and low-latency communication (URLLC). Universal Filtered Multi-Carrier (UFMC), Filter Bank Multicarrier (FBMC), and Filtered Orthogonal Frequency Division Multiplexing (f-OFDM) are suggested as a well-known candidate waveform for the coming 5G system. Themachine-to-machine (M2M) communications are one of the essential applications in 5G, and it involves exchanging of concise messages with a very short latency. However, in UFMC systems, the subcarriers are grouped into subbands but f-OFDM only one subband covers the entire band. Furthermore, in FBMC, a subband includes only one subcarrier, and the number of subbands is the same as the number of subcarriers. This paper mainly discusses the performance of UFMC with different parameters for the UFMC system. Also, paper shows that UFMC is the best choice outperforming OFDM in any case and FBMC in case of very short packets while performing similarly for long sequences with channel estimation techniques for Interleave Division Multiple Access (IDMA) systems.

Keywords: UFMC, IDMA, 5G, subband.

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Authors: Carolijn Van Noort

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The aim of this research is to understand how the emerging power bloc BRICS employs infrastructure development narratives to construct a new world order. BRICS is an international body consisting of five emerging countries that collaborate on economic and political issues: Brazil, Russia, India, China, and South Africa. This study explores the projection of infrastructure development narratives through an analysis of BRICS’ attention to infrastructure investment and financing, its support of the New Partnership on African Development and the establishment of the New Development Bank in Shanghai. The theory of Strategic Narratives is used to explore BRICS’ commitment to infrastructure development and to distinguish three layers: system narratives (BRICS as a global actor to propose development reform), identity narratives (BRICS as a collective identity joining efforts to act upon development aspirations) and issue narratives (BRICS committed to a range of issues of which infrastructure development is prominent). The methodology that is employed is a narrative analysis of BRICS’ official documents, media statements, and website imagery. A comparison of these narratives illuminates tensions at the three layers and among the five member states. Identifying tensions among development infrastructure narratives provides an indication of how policymaking for infrastructure development could be improved. Subsequently, it advances BRICS’ ability to act as a global actor to construct a new world order.

Keywords: BRICS, emerging powers, infrastructural development, strategic narratives.

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Authors: Aspalella A. Rahman

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Money laundering has been described by many as the lifeblood of crime and is a major threat to the economic and social well-being of societies. It has been recognized that the banking system has long been the central element of money laundering. This is in part due to the complexity and confidentiality of the banking system itself. It is generally accepted that effective anti-money laundering (AML) measures adopted by banks will make it tougher for criminals to get their "dirty money" into the financial system. In fact, for law enforcement agencies, banks are considered to be an important source of valuable information for the detection of money laundering. However, from the banks- perspective, the main reason for their existence is to make as much profits as possible. Hence their cultural and commercial interests are totally distinct from that of the law enforcement authorities. Undoubtedly, AML laws create a major dilemma for banks as they produce a significant shift in the way banks interact with their customers. Furthermore, the implementation of the laws not only creates significant compliance problems for banks, but also has the potential to adversely affect the operations of banks. As such, it is legitimate to ask whether these laws are effective in preventing money launderers from using banks, or whether they simply put an unreasonable burden on banks and their customers. This paper attempts to address these issues and analyze them against the background of the Malaysian AML laws. It must be said that effective coordination between AML regulator and the banking industry is vital to minimize problems faced by the banks and thereby to ensure effective implementation of the laws in combating money laundering.

Keywords: Banking Industry, Bank Negara Money, Laundering, Malaysia.

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Authors: C. Lanzerstorfer, M. Hinterberger

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The iron content of the ore used is crucial for the productivity and coke consumption rate in blast furnace pig iron production. Therefore, most iron ore deposits are processed in beneficiation plants to increase the iron content and remove impurities. In several comminution stages, the particle size of the ore is reduced to ensure that the iron oxides are physically liberated from the gangue. Subsequently, physical separation processes are applied to concentrate the iron ore. The fine-grained ore concentrates produced need to be transported, stored, and processed. For smooth operation of these processes, the flow properties of the material are crucial. The flowability of powders depends on several properties of the material: grain size, grain size distribution, grain shape, and moisture content of the material. The flowability of powders can be measured using ring shear testers. In this study, the influence of the moisture content on the flowability for the Krivoy Rog magnetite iron ore concentrate was investigated. Dry iron ore concentrate was mixed with varying amounts of water to produce samples with a moisture content in the range of 0.2 to 12.2%. The flowability of the samples was investigated using a Schulze ring shear tester. At all measured values of the normal stress (1.0 kPa – 20 kPa), the flowability decreased significantly from dry ore to a moisture content of approximately 3-5%. At higher moisture contents, the flowability was nearly constant, while at the maximum moisture content the flowability improved for high values of the normal stress only. The results also showed an improving flowability with increasing consolidation stress for all moisture content levels investigated. The wall friction angle of the dust with carbon steel (S235JR), and an ultra-high molecule low-pressure polyethylene (Robalon) was also investigated. The wall friction angle increased significantly from dry ore to a moisture content of approximately 3%. For higher moisture content levels, the wall friction angles were nearly constant. Generally, the wall friction angle was approximately 4° lower at the higher wall normal stress.

Keywords: Iron ore concentrate, flowability, moisture content, wall friction angle.

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Authors: Ching-Feng Chen, Shih-Kai Chen

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The Floating Photovoltaic (FPV) system highlights economic benefits and energy performance to carbon dioxide (CO2) discharges. Due to land resource scarcity and many negligent water territories, such as reservoirs, dams, and lakes in Japan and Taiwan, both countries are actively developing FPV and responding to the pricing of the emissions trading systems (ETS). This paper performs a case study through a synthesis approach to compare the economic indicators between the FPVs of Taiwan’s Agongdian Reservoir and Japan’s Yamakura Dam. The research results show that the metrics of the system capacity, installation costs, bank interest rates, and ETS and Electricity Bills affect FPV operating gains. In the post-Feed-In-Tariff (FIT) phase, investing in FPV in Japan is more profitable than in Taiwan. The former’s positive net present value (NPV), eminent internal rate of return (IRR) (11.6%), and benefit-cost ratio (BCR) above 1 (2.0) at the discount rate of 10% indicate that investing the FPV in Japan is more favorable than in Taiwan. In addition, the breakeven point is modest (about 61.3%). The presented methodology in the study helps investors evaluate schemes’ pros and cons and determine whether a decision is beneficial while funding PV or FPV projects.

Keywords: Carbon Border Adjustment Mechanism, Floating Photovoltaic, Emissions Trading Systems, Net Present Value, NPV, Internal Rate of Return, IRR, Benefit-Cost Ratio.

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Authors: Kenneth M. Oba

Abstract:

This study investigated factors affecting the price of cement in Nigeria, and developed a mathematical model that can predict future cement prices. Cement is key in the Nigerian construction industry. The changes in price caused by certain factors could affect economic and infrastructural development; hence there is need for proper proactive planning. Secondary data were collected from published information on cement between 2014 and 2019. In addition, questionnaires were sent to some domestic cement retailers in Port Harcourt in Nigeria, to obtain the actual prices of cement between the same periods. The study revealed that the most critical factors affecting the price of cement in Nigeria are inflation rate, population growth rate, and Gross Domestic Product (GDP) growth rate. With the use of data from United Nations, International Monetary Fund, and Central Bank of Nigeria databases, amongst others, a Multiple Linear Regression model was formulated. The model was used to predict the price of cement for 2020-2025. The model was then tested with 95% confidence level, using a two-tailed t-test and an F-test, resulting in an R² of 0.8428 and R² (adj.) of 0.6069. The results of the tests and the correlation factors confirm the model to be fit and adequate. This study will equip researchers and stakeholders in the construction industry with information for planning, monitoring, and management of present and future construction projects that involve the use of cement.

Keywords: Cement price, multiple linear regression model, Nigerian Construction Industry, price prediction.

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Authors: Rita U. Onolemhemhen, Saheed L. Bello, Akin P. Iwayemi

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The effectiveness of energy demand policy depends on identifying the key drivers of energy demand both in the short-run and the long-run. This paper examines the influence of regional differences on the link between energy demand and other explanatory variables for Nigeria, China and USA using the Vector Error Correction Model (VECM) approach. This study employed annual time series data on energy consumption (ED), real gross domestic product (GDP) per capita (RGDP), real energy prices (P) and urbanization (N) for a thirty-six-year sample period. The utilized time-series data are sourced from World Bank’s World Development Indicators (WDI, 2016) and US Energy Information Administration (EIA). Results from the study, shows that all the independent variables (income, urbanization, and price) substantially affect the long-run energy consumption in Nigeria, USA and China, whereas, income has no significant effect on short-run energy demand in USA and Nigeria. In addition, the long-run effect of urbanization is relatively stronger in China. Urbanization is a key factor in energy demand, it therefore recommended that more attention should be given to the development of rural communities to reduce the inflow of migrants into urban communities which causes the increase in energy demand and energy excesses should be penalized while energy management should be incentivized.

Keywords: Economic growth, energy demand, income, real GDP, urbanization, VECM.

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Authors: Ronal Muresano, Andrea Pagano

Abstract:

Nowadays, the mathematical/statistical applications are developed with more complexity and accuracy. However, these precisions and complexities have brought as result that applications need more computational power in order to be executed faster. In this sense, the multicore environments are playing an important role to improve and to optimize the execution time of these applications. These environments allow us the inclusion of more parallelism inside the node. However, to take advantage of this parallelism is not an easy task, because we have to deal with some problems such as: cores communications, data locality, memory sizes (cache and RAM), synchronizations, data dependencies on the model, etc. These issues are becoming more important when we wish to improve the application’s performance and scalability. Hence, this paper describes an optimization method developed for Systemic Model of Banking Originated Losses (SYMBOL) tool developed by the European Commission, which is based on analyzing the application's weakness in order to exploit the advantages of the multicore. All these improvements are done in an automatic and transparent manner with the aim of improving the performance metrics of our tool. Finally, experimental evaluations show the effectiveness of our new optimized version, in which we have achieved a considerable improvement on the execution time. The time has been reduced around 96% for the best case tested, between the original serial version and the automatic parallel version.

Keywords: Algorithm optimization, Bank Failures, OpenMP, Parallel Techniques, Statistical tool.

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Authors: Nwobu Obiamaka, Owolabi Akintola

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This study examined the extent of statistical significant difference between the economic, environmental, governance and social aspects of sustainability reporting as a result of board committee on sustainability and time (year) of reporting for business organizations in the Nigerian banking sector. The years of reporting under consideration were 2010, 2011, 2012 and 2013. Content analysis methodology was employed through a reporting index used to score the amount of economic, environmental, governance and social indicators of sustainability reporting. The results of this study indicated that business organizations with board committee on sustainability had more indicators of sustainability reporting than those without board committees on sustainability issues. Also, sustainability reporting in 2013 was higher than that of prior years (2012, 2011 and 2010) for the economic, environmental and social indicators. The governance indicators of 2012 was highest compared to the other years (2013, 2011 and 2010) under consideration in this study. The implication of this finding is that business organizations that have board committees on sustainability are monitored by such boards to report more to their stakeholders. On the other hand, business organizations are appreciating the need to engage in sustainability reporting with each passing year. This could be due to the Central Bank of Nigeria (CBN) Sustainability Reporting framework that business organizations in the banking sector have to adhere to. When sustainability issues are monitored from the board of directors, business organizations are likely to increase and improve on their sustainability reporting.

Keywords: Governance, organizations, reporting, sustainability.

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Authors: Francis O. Iyoha, Daniel E. Gberevbie, Charles T. Iruonagbe, Matthew E. Egharevba

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Cost of governance in Nigeria has become a challenge to development and concern to practitioners and scholars alike in the field of business and social science research. In the 2010 national budget of NGN4.6 trillion or USD28.75billion for instance, only a pantry sum of NGN1.8trillion or USD11.15billion was earmarked for capital expenditure. Similarly, in 2013, out of a total national budget of NGN4.92trillion or USD30.75billion, only the sum of NGN1.50trllion or USD9.38billion was voted for capital expenditure. Therefore, based on the data sourced from the Nigerian Office of Statistics, Central bank of Nigeria Statistical Bulletin as well as from the United Nations Development Programme, this study examined the causes of high cost of governance in Nigeria. It found out that the high cost of governance in the country is in the interest of the ruling class, arising from their unethical behaviour – corrupt practices and the poor management of public resources. As a result, the study recommends the need to intensify the war against corruption and mismanagement of public resources by government officials as possible solution to overcome the high cost of governance in Nigeria. This could be achieved by strengthening the constitutional powers of the various anti-corruption agencies in the area of arrest, investigation and prosecution of offenders without the interference of the executive arm of government either at the local, state or federal level.

Keywords: Capital expenditure, Cost of governance, recurrent expenditure, unethical behaviour.

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Authors: V. Sandeep Kumar, S. Anuradha

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The high Peak to Average Power Ratio (PAR) in Filter Bank Multicarrier with Offset Quadrature Amplitude Modulation (FBMC-OQAM) can significantly reduce power efficiency and performance. In this paper, we address the problem of PAPR reduction for FBMC-OQAM systems using Tone Reservation (TR) technique. Due to the overlapping structure of FBMCOQAM signals, directly applying TR schemes of OFDM systems to FBMC-OQAM systems is not effective. We improve the tone reservation (TR) technique by employing sliding window with Active Constellation Extension for the PAPR reduction of FBMC-OQAM signals, called sliding window tone reservation Active Constellation Extension (SW-TRACE) technique. The proposed SW-TRACE technique uses the peak reduction tones (PRTs) of several consecutive data blocks to cancel the peaks of the FBMC-OQAM signal inside a window, with dynamically extending outer constellation points in active(data-carrying) channels, within margin-preserving constraints, in order to minimize the peak magnitude. Analysis and simulation results compared to the existing Tone Reservation (TR) technique for FBMC/OQAM system. The proposed method SW-TRACE has better PAPR performance and lower computational complexity.

Keywords: FBMC-OQAM, peak-to-average power ratio, sliding window, tone reservation Active Constellation Extension.

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