Elasticity of Substitution – Louth Online http://louthonline.com/ Fri, 24 Sep 2021 15:47:06 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 http://louthonline.com/wp-content/uploads/2021/03/louthonline-icon-70x70.png Elasticity of Substitution – Louth Online http://louthonline.com/ 32 32 Food prices: the rising cost of bread http://louthonline.com/food-prices-the-rising-cost-of-bread/ http://louthonline.com/food-prices-the-rising-cost-of-bread/#respond Wed, 22 Sep 2021 15:50:09 +0000 http://louthonline.com/food-prices-the-rising-cost-of-bread/

Food price updates

Soaring natural gas prices put an end to the soda boom and crippled chicken production. Now fears are spreading that high fertilizer prices could inflate the cost of our daily bread, if they persist.

These concerns are justified. Fertilizers are one of the most important input costs for agricultural products; perhaps a third of the operating costs of grain production, Rabobank estimates.

Manufacturers depend on natural gas to harvest fertilizer components such as nitrogen, which is sucked from the air and turned into ammonia and urea. Hence the closure of some fertilizer factories.

Fertilizer producers generally sell at floating or fixed prices over relatively short periods of time. British farmers typically buy at fixed prices around June for delivery in late autumn, says AHBH, a non-ministerial public body. They buy refills at spot rates. This provides a kind of buffer against short-lived spikes. But a shortage of hedging tools and illiquid fertilizer futures markets make it difficult to fully lock in future costs.

There are possibilities of substitution, for example with old-fashioned manure, a by-product of mixed farms. But high-intensity farmers in the developed world typically buy the same volumes of fertilizer each year, passing some costs on to customers.

There is much more elasticity of demand from the low intensity fields of emerging markets. Governments and aid agencies sometimes subsidize fertilizers for welfare reasons here. A university study found that free products in central Malawi tripled use and increased household income. The agriculture branch of the United Nations notes that during the 2007-08 food crisis, fertilizer prices rose faster than food prices.

Expensive fertilizers and reduced yields are just two related factors that could drive up the prices of agricultural products. In the UK, labor shortages – from seasonal pickers to truck drivers – can ruin harvests. In the United States and Australia, erratic weather has exhausted nature’s bounty. China wants to increase its national food security.

Everything points to a rise in food prices to come.

The Lex team wants to know more about the readers. Please let us know what you think of the food price outlook in the comments section below.

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Why Epic Games lost to Apple in court: three root causes http://louthonline.com/why-epic-games-lost-to-apple-in-court-three-root-causes/ http://louthonline.com/why-epic-games-lost-to-apple-in-court-three-root-causes/#respond Sun, 19 Sep 2021 18:00:48 +0000 http://louthonline.com/why-epic-games-lost-to-apple-in-court-three-root-causes/

Last week, the court issued its long-awaited decision in Epic vs. Apple, and Epic Games lost. I’ve written about this a few times before, but for those who aren’t in the know: Epic Games had challenged Apple’s restrictive policies that require developers to sell iPhone apps through the Apple App Store, to use Apple Pay to pay for entries. app purchases and pay Apple 30% of all Apple derivative income.

The lawsuit was filed in August and put on an accelerated schedule. The trial was held in May and was a “bench trial,” meaning the parties presented their evidence to the judge rather than a jury. The judge’s decision was 185 pages (single-spaced!) And included a thorough analysis of all the arguments in the case.

This week, I’m going to detail the decision and identify some root causes why Epic Games lost the lawsuit against Apple.

The big picture

There is no mining: Epic Games has lost big. In fact, the court ruled against Epic on almost every issue. The court concluded that there was nothing illegal about Apple’s rule requiring Epic (and others) to use the App Store as the exclusive distributor of iOS apps, nothing illegal in the Apple’s rule requiring developers to pay Apple 30% of all revenue derived from Apple, and nothing illegal about Apple’s rule requiring developers to use Apple Pay for all in-app purchases.

Epic’s only victory in this case is relatively minor. In addition to the issues described above, the court examined the legality of Apple’s “anti-leadership” rules, which prevent developers from “turning” customers away from the app for purchases. For example, Epic cannot include a link to its website that would allow users to purchase V-Bucks (or other in-game currency) outside of the app. The court found these rules to be illegal under California law (but not under federal law).

However, the anti-leadership issue was essentially a footnote to the other issues in the case. The real action in the case was about App Store exclusivity, Apple’s 30% commission and the mechanisms used to enforce those rules, and Epic can’t even claim a partial victory on these issues.

Why Epic Games lost

In many ways, the loss of Epic Games is a legal disaster – at least as far as Epic is concerned. My goal here is to provide high-level root cause analysis to understand what went wrong for Epic Games, based strictly on the court ruling itself, the trial record, and Epic’s public statements. .

The point is, Epic didn’t lose the case out of nowhere. Antitrust law is almost fractal in its complexity. The determination of who should prevail over any overall question is determined by a series of smaller intermediate questions decided along the way.

For example, before the court could determine whether Apple’s behavior was anti-competitive, it had to first identify the relevant market through which to measure competition. It’s easy to say that Apple’s behavior is hurting competition for iPhone apps, since Apple has full control in this market. However, it is quite another thing to say that Apple’s behavior is hurting the competition for games. generally, given that Apple is a relatively small component of the overall gaming industry.

Three Root Causes Epic Games Lost In Lawsuit Over Apple's Failed Loss

The question of which market is “relevant” for the purposes of a legal analysis itself requires the court to consider several intermediate facts, such as the interchangeability of goods in a potential market, price elasticity, trade, identifying the relevant consumer base. , And so on. But many of these facts even imply further away factual questions. And this is only for one step of the antitrust analysis (relevant market). There is a similar complexity for each of the other stages of antitrust analysis. Needless to say, once you dig into the details, it’s easy to see how the court ended up with a 185-page decision.

So, Epic Games’ loss on Big Issues stems directly from dozen losses on smaller problems along the way, at all levels of the analysis. Of course, this leads to an immediate follow-up question: How? ‘Or’ What Has Epic Games failed so epically on so many small issues? The court’s decision provides useful guidance for this purpose.

First cause: the bad experts

As explained above, the factual issues underlying an antitrust analysis are complex and factual. It’s no surprise, then, that Apple and Epic Games have relied heavily on experts to support their arguments regarding market definition, market presence, and anti-competitive effects (among others). Problem is, Epic’s experts were terrible – and the court didn’t hesitate to explain why:

  • “Unexplained academic and industrial experience simply does not provide a sufficient basis for drawing reliable conclusions. … [T]Dr Athey’s expert testimony is totally devoid of any evidence … “
  • Epic’s expert testimony on lockdown effects was based on flawed analysis limited to iOS only Fortnite players, excluded players who use cross-platform play and did not take into account the substitution between iOS and Android.
  • Dr. Rossi’s testimony at trial revealed that he was more interested in an outcome that would help his client’s case than in providing an objective reason to assist the Court in its decision making. of Dr. Rossi’s credibility, the Court strives to adopt its findings.
  • “The Court finds that Dr. Evans’ SSNIP analysis is hopelessly flawed by several standards, including his own. … Dr. Evans’ analysis is unreliable and gives no insight into substitution in an alleged iOS application distribution market.
  • “Dr. Evans’ decision to limit his analysis to iOS only Fortnite players is questionable as it ignores other market evidence that iOS players have engaged in substitution…. [T]The Court found that Dr Evans probably underestimated overall substitution.

It’s hard to overstate the importance of these results. Epic Games has relied on its experts to prove the key facts in its case against Apple. The fact that the court found these experts to be unreliable meant that it would have been next to impossible for Epic to prevail on these issues. And since Epic Games’ legal theories were based on the underlying facts, their factual failure directly contributed to why Epic lost the case.

Root cause # 2: epic games got greedy

Epic argued that there are two relevant antitrust markets, one for the distribution of iOS apps and the other for in-app iOS payment solutions. For the most part, Epic assumed the court would adopt its proposed market definitions and therefore did not spend enough time or effort persuading the court that Apple’s conduct was illegal under another definition of Marlet.

The court ended up rejecting the market proposed by Epic, leaving Epic an “underdeveloped case” compared to the market actually considered by the court. In fact, the court said explicitly, “At the end of the day, Epic Games has crossed the line. As a result, the trial record was not as complete with respect to antitrust conduct in the relevant market as it might have been. There were numerous other references throughout the decision to an “underdeveloped case.”

While this root cause certainly reflects a failure on Epic’s part, it’s easy to see how Epic made this mistake. On the one hand, the court rejected the market definition proposed by Apple and Epic and opted for a market definition on its own initiative. To make matters worse, the parties were never informed of the market definition chosen by the court and therefore did not have the opportunity to present evidence specific to this market. It’s also worth mentioning that trial time was limited – every minute Epic spent considering alternate market definition was one minute less for Epic to back up its case. prefer market definition. Looking back, it’s easy to see that Epic should have spent more time on alternate theories, but it certainly wasn’t as obvious during the trial.

Third cause: losing high moral ground

As I explained in my previous coverage of this case, “the most valuable tool lawyers have when presenting a case to a judge or jury is their credibility.” In that same post, I explained how Epic lost its credibility early on in this case by making spurious and misleading arguments in court as part of its preliminary injunction request. However, as the case was only in its early stages, Epic had plenty of time to put things right.

The substance of the court order shows, unequivocally, that Epic has not recovered any lost credibility. This emerges more clearly from the court’s discussion of “Project Liberty”. Project Liberty was a campaign whereby Epic bypassed Apple’s in-app payment requirements by using a technical backdoor built into its apps. The court described Project Liberty as “a highly choreographed attack on Apple and Google” and called its digital backdoor a “willful violation of [Epic’s] contractual obligations and directives. The court ruling includes a detailed over 7 page description of the campaign that makes it clear that the court did not approve of Epic’s tactics. Elsewhere, the court challenged Epic’s entire business model, saying: “There is little societal value in allowing [Epic] capitalize on more customer data to leverage customer habits.

Ultimately, judges are responsible for applying the law regardless of what they think about the parties or the underlying issues. But one cannot ignore the fact that judges are people and that their perception of the evidence presented in a case is always informed by the narrative lens through which they see it. It is for this reason that one of the most important and frequently offered tips for writing a legal brief is to start with the facts and persuade the judge that your side is on your side. should win before you get to the law and explain why your camp Is win under the law.

The fact that Epic Games lost control of the narrative before it even got off the ground was bad. The fact that Epic hadn’t recalibrated or attempted to change the narrative direction could easily have sealed his fate.

Now we see why Epic Games lost. Now what?

To anyone’s surprise, Epic has already filed a notice of appeal and will seek to overturn the judge’s decision. Will it be successful? We may have to discuss this next time.

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Will the Kroger / Instacart deal redefine the convenience of grocery shopping in America? – RetailWire http://louthonline.com/will-the-kroger-instacart-deal-redefine-the-convenience-of-grocery-shopping-in-america-retailwire/ http://louthonline.com/will-the-kroger-instacart-deal-redefine-the-convenience-of-grocery-shopping-in-america-retailwire/#respond Wed, 15 Sep 2021 16:58:34 +0000 http://louthonline.com/will-the-kroger-instacart-deal-redefine-the-convenience-of-grocery-shopping-in-america-retailwire/

Sep 15, 2021

Kroger and Instacart are work together to throw “Kroger delivery now“A nationwide new virtual convenience delivery service that will deliver fresh food, household essentials, meal solutions and snacks from morning to late at night in as little as 30 minutes.”

Order fulfillment will be handled by Kroger’s grocery store operations across the country. Service customers will have their choice of products from an inventory of 25,000 items. The grocery giant says its selection, pricing and speed of delivery through Instacart means consumers won’t have to compromise associated with existing convenience delivery models.

The new service will require a minimum order of $ 10 and will include a delivery charge of $ 2.99. Annual Instacart members will not have to pay for delivery. Orders can be placed through the Kroger or Instacart apps or websites.

“Kroger Delivery Now is a differentiated solution in the e-commerce industry, not just the grocery industry,” said Rodney McMullen, President and CEO of Kroger. “Our new service gives customers an additional way to shop with us and recognizes the importance of convenience and immediacy. Operationally, this service reaches up to 50 million homes and it is an expansion of our thriving e-commerce model that demonstrates a strategic interaction between our assets, our extensive store network, our chain of stores. supply and our dedicated distribution centers and fleet, joined by Instacart’s unparalleled distribution model and the latest -mile technology to provide our customers with anything, anytime, anywhere without compromise.

The launch of the new service is part of Kroger’s plan to double its digital sales and profits by the end of 2023. The company saw its online business reach more than $ 10 billion last year.

Kroger will recruit its more than 2,700 stores operating under its eponymous banner and its various chain stores, including King Soopers, Ralphs, Smith’s and others, will all join in the effort.

Mr. McMullen called Instacart a strategic partner whose “industry-leading scale and ingenuity complements Kroger’s best assets, digital strategy and growing transparent ecosystem.”

The launch of Kroger Delivery Now, he said, “reinforces our commitment to be the leader in fresh produce and to accelerate digitally in an environment of heightened and sustained customer expectations for fresh produce at home. demand “.

He called the service a “game changer” and said Kroger was focused on leveraging its assets to deliver a seamless experience “in the most scalable, sustainable and profitable way.”

DISCUSSION QUESTIONS: Will the new Kroger Delivery Now service redefine what many Americans think about convenience when it comes to ordering fresh food and essential household items? Do you see this as a win / win / win for Kroger, Instacart and consumers, and what will it mean for the grocery giant’s rivals?


“The real change would be a functioning supply chain. If Kroger can make it happen, more power for them!”

“Instant delivery will be the new ‘green fee’ for grocery stores and perhaps dry goods retailers. “

“Where does that leave Instacart’s stated ambitions to operate its own micro-execution centers?” “


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The global electric vehicle adhesives market size is estimated to be USD 0.4 billion in 2021 and is expected to reach USD 1.8 billion by 2026, at a CAGR of 44.7% between 2021 and 2026. http://louthonline.com/the-global-electric-vehicle-adhesives-market-size-is-estimated-to-be-usd-0-4-billion-in-2021-and-is-expected-to-reach-usd-1-8-billion-by-2026-at-a-cagr-of-44-7-between-2021-and-2026/ http://louthonline.com/the-global-electric-vehicle-adhesives-market-size-is-estimated-to-be-usd-0-4-billion-in-2021-and-is-expected-to-reach-usd-1-8-billion-by-2026-at-a-cagr-of-44-7-between-2021-and-2026/#respond Wed, 15 Sep 2021 08:23:00 +0000 http://louthonline.com/the-global-electric-vehicle-adhesives-market-size-is-estimated-to-be-usd-0-4-billion-in-2021-and-is-expected-to-reach-usd-1-8-billion-by-2026-at-a-cagr-of-44-7-between-2021-and-2026/

An adhesive is a chemical substance used to join materials (substrates), identical or different, by their surfaces. EV adhesives are used in a variety of applications such as white body, paint shop, powertrain and assembly.

New York, September 15, 2021 (GLOBE NEWSWIRE) – Reportlinker.com Announces the Release of the “Electric Vehicle Adhesives Market by Application, Resin Type, Substrate, Shape, Vehicle Type and Region – Global Forecast to 2026 “- https: //www.reportlinker.com/p05824469/? utm_source = GNW
In this report, the market has been defined as the adhesives used in electric vehicles (EVs). The types of electric vehicles considered are the electric car, the electric bus, the electric bicycle (2 wheels) and the electric truck. Polymer, composite and metal have been considered the primary substrates on which EV adhesives are used. The application of EV adhesives is increasing due to various requirements from automotive manufacturers, such as bonding of similar and dissimilar materials, substitution of traditional substrate materials with synthetic substrates, and increasing attention to environmental concerns. EV adhesives address various engineering and design issues because they have the ability to resist vibration, are lightweight, and allow stress distribution over a wide area.

Exterior application is expected to be the largest application segment in the electric vehicle adhesives market
The increasing production and sale of electric cars has increased the demand for batteries, electric motors, doors, instrument cluster, infotainment system, seats, various panels and charging outlets. Batteries are the most important components of electric cars because they provide energy to the car.

The car battery is heavier than other parts. In order to counter the weight of the batteries and reduce the overall weight of electric cars, lightweight materials are used in electric car applications.

In the electric vehicle industry, adhesives are used in place of welds, screws, rivets, gaskets and fasteners, which allows automakers to make the vehicle lightweight. One of the concerns of electric vehicles is autonomy.

Automakers are tackling this problem by increasing the capacity of the vehicle’s battery.
The design of electric vehicles should be lightweight to counter the weight of the battery system used in electric vehicles. Bonding dissimilar materials is done using structural adhesives to replace fasteners, rivets and spot welding, which helps reduce vehicle weight.

The use of structural adhesives also addresses the issue of impact resistance and safety of battery systems in electric vehicles. With the continuous development of technology, the consumption of adhesives in exterior parts of electric vehicles will further increase during the forecast period.

Polyurethane Expected to be the Largest Resin Type Segment in the Electric Vehicle Adhesives Market
The use of adhesives in electric vehicles is expected to increase during the forecast period. The various adhesive applications in electric vehicles require different types of adhesives derived from resins such as epoxy, polyurethane, silicone and acrylic.

Adhesives made of different resins have different properties and are chosen according to the specific application.
Polyurethane adhesives are made from urethane polymers. They exhibit extraordinary elasticity and elongation up to 600% before breaking.

There are three types of polyurethane adhesives, two-component polyurethane adhesives, one-component rigid polyurethane adhesives, and two-component elastic polyurethane adhesives. Bonds of polyurethane adhesives form in two stages: first, the adhesive cools to achieve hold-down strength and second, the adhesive uses moisture to continue to cure for hours or even days to achieve structural strength. final.

Electric cars to be the largest vehicle type segment in the electric vehicle adhesives market
The demand for electric vehicles is growing at a rapid rate due to growing environmental concerns, even as the sale of ICE vehicles is declining. The implementation of favorable policies for electric vehicles and technological advancements in the value chain will boost the electric vehicle market five years.

Growth of electric cars and buses is expected to drive the growth of electric vehicle adhesives during the forecast period.
Automakers have announced increasingly ambitious electrification plans. Of the top 20 global automakers, which accounted for around 90% of new car registrations in 2020, 18 have announced plans to expand their model portfolio and rapidly increase production of light vehicles. electric vehicles.

The growth of electric cars is being driven by critical policy changes adopted by leading countries in electric mobility. These countries have introduced stricter emission standards in addition to incentives for electric cars and are encouraging investments in the electric vehicle industry value chain to bring about price parity between electric vehicles and electric vehicles. ICE vehicles.

In an electric vehicle, adhesive technology plays an essential role in the lightness of the electric vehicle, as it is used in a number of applications. Growing electric vehicle markets such as Europe, APAC and North America will provide growth opportunities for electric vehicle adhesive manufacturers during the forecast period.

APAC accounts for largest EV adhesives market share by region
APAC accounted for the largest share of the electric vehicle adhesives market in 2020, followed by Europe and North America. Growing tensions in the U.S.-China trade war and low labor costs in China have forced various end-users of adhesives to relocate and establish their manufacturing base in countries around the world. ASEAN.

This relocation is expected to increase the demand for adhesives in ASEAN countries. India offers low cost labor, which can offer significant investment opportunities for businesses.

Government initiatives such as “Make in India” and the proposed government entrepreneurship development program may open up additional opportunities in the industrial construction and infrastructure segments. All of these factors are expected to drive the APAC market.
In-depth primary interviews were conducted to determine and verify the market size for several segments and sub-segments and the information gathered through secondary research.

The breakdown of primary interviews is shown below:
• By type of business – Level 1 – 30%, Level 2 – 50% and Level 3 – 20%
• By designation – level C – 40%, director level – 20% and others * – 40%
• By region – North America – 10%, Europe – 40%, APAC – 30% and others ** – 20%
Notes: * Others include sales, marketing, and product managers.
** Other regions include South America, Middle East and Africa

Level 1:> 5 billion USD; Level 2: USD 1 billion to USD 5 billion; and level 3:
The companies presented in this market research report are Henkel (Germany), HB Fuller (United States), Sika AG (Switzerland), 3M (United States), Wacker Chemie AG (Germany), Bostik SA – An Arkema company (France), L&L Products (United States), Jowat SE (Germany), Ashland (United States), PPG Industries, Inc. (United States) and Permabond (United Kingdom) and others.

Research coverage:
This research report categorizes the EV Adhesives market on the basis of application, resin type, vehicle type, substrate, shape, and region. The report includes detailed information on the major factors influencing the growth of the EV Adhesives market such as drivers, restraints, challenges, and opportunities.

A detailed analysis of major industry players has been performed to provide information on business overviews, products and services, key strategies, extensions, new product developments, acquisitions, and recent developments associated with the market.

Reasons to buy the report

The report will assist the market leaders / new entrants in this market in the following ways:
1. This report segments the EV Adhesives market comprehensively and provides the closest approximations of market sizes for the overall market and sub-segments across verticals and regions.
2. The report will help stakeholders understand the market pulse and provide them with insights into the key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand the main competitors and obtain information to improve their position in the company. The competitive landscape section includes extensions, new product developments and joint ventures.
4. The report includes the impact of COVID-19 on the EV Adhesives market.
Read the full report: https://www.reportlinker.com/p05824469/?utm_source=GNW

About Reportlinker
ReportLinker is an award winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.


CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001

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TAIF-NK petroleum. Gas. International Petrochemical Exhibition – RealnoeVremya.com http://louthonline.com/taif-nk-petroleum-gas-international-petrochemical-exhibition-realnoevremya-com/ http://louthonline.com/taif-nk-petroleum-gas-international-petrochemical-exhibition-realnoevremya-com/#respond Fri, 03 Sep 2021 07:00:00 +0000 http://louthonline.com/taif-nk-petroleum-gas-international-petrochemical-exhibition-realnoevremya-com/

Photo credit: Rinat Nazmetdinov

The 28e Oil. Gas. The international specialized petrochemical fair, which takes place during the Tatarstan Gas and Petrochemical Forum, opened in Kazan. More than 150 companies from Russia and neighboring and distant countries participate in the exhibition. The TAIF-NK oil refinery is one of the permanent participants. Read more in Realnoe Vremya’s report.

The biggest event in the oil, gas and petroleum refining industry in Russia

Kazan has traditionally become the center of the Tatarstan Gas and Petrochemical Forum, which is one of the largest international events in Russia’s oil and gas sector. President of Tatarstan Rustam Minnikhanov participated in the official opening ceremony.

“I sincerely welcome you to the Tatarstan Gas and Petrochemical Forum. There will be a lot of interesting topics related to new challenges. I think the events organized during the forum will be useful and interesting for the participants. I wish everyone successful work, ”said the President of Tatarstan.

President of Tatarstan Rustam Minnikhanov participated in the official opening ceremony. Photo credit: Rinat Nazmetdinov

Russian Deputy Minister of Industry and Trade Mikhail Ivanov pointed out that the Tatarstan Gas and Petrochemical Forum has for many years brought together the top representatives of the fuel and energy complex, mechanical engineering and science.

“Current issues of the development of the oil, gas and chemical sectors, digitization, import substitution are discussed here. I think the forum will be at the highest level this year too, ”he added.

Kazakhstan’s Energy Minister Nourlan Nogayev in turn congratulated the people of Tatarstan on the Republic Day and expressed hope for closer cooperation. The honorable guests opened the evening with the push of a symbolic button. After that, they began to examine the achievements of the gas and petrochemical sector which were represented at the 28e Oil. Gas. Exhibition specializing in petrochemicals.

The exhibition is considered one of the main events of the sector in the Volga Federal District, to be in the top 3 of the largest regional oil regions and has exhibitions of Russia and is of particular importance for the development of the economy, technological infrastructure and technical re-equipment of enterprises of the Russian gas and petrochemical complex.

TAIF-NK JSC is traditionally one of the biggest participants in the exhibition.

The company’s product assortment includes 49 names. Diesel and pure gasoline, motor gasoline, liquefied hydrocarbon gases, jet fuel and bitumen are among the key products.

The company’s product assortment includes 49 names. Photo credit: Rinat Nazmetdinov

TAIF-NK JSC recently declared a new product: Euro 6 Low Sulfur Diesel Fuel. Another type of product was presented at the exhibition – polymer-bitumen binder PBB-60. With the use of PBB in road construction, the durability of the road surface is 4-6 years longer, it has high flexibility and elasticity, and is more resistant to thermal oxidation compared to road bitumen.

Polymeric road surfaces are more resistant to warping, cracks and ruts due to high traffic load. A section of the road from Naberezhnye Chelny to Almetyevsk via Zainsk in Tukay district, Tatarstan, with 50/70 and PBB 60 bitumen made by TAIF-NK JSC laid in August 2016 can be cited as an example. Nowadays the road is actively used and in good condition.

“Not only the road companies of Tatarstan, but also the oblasts of Kirov and Ulyanovsk use the bitumen of Nizhnekamsk to build quality roads. Foreign customers also praise its quality. Orders come from Kazakhstan, Uzbekistan, Mexico and Bolivia. All products are in great demand in Tatarstan, Russia and abroad. The demand for TAIF-NK products is high, ”noted Ilshat Fattakhov, Deputy General Manager and Commercial Director of TAIF-NK JSC.

All products are in great demand in Tatarstan, Russia and abroad. Photo credit: Rinat Nazmetdinov

The entire range of petroleum products manufactured by TAIF-NK JSC conform to world-class quality standards. The products have been noticed several times in prestigious Republican and Russian competitions. So, in 100 Best Products of Russia, RT brand jet fuel and viscous road bitumen 70/100 were praised.

Production of light petroleum products increased from 76% to 80.2%

Despite the negative situation unfolding in the global and Russian economy, TAIF-NK JSC not only continued to operate, but also increased the conversion rate and production of light petroleum products. The company reduced the production of heavy petroleum products by using them as feedstock in the high conversion heavy tailings facility. Thanks to this, not only the structure of production improved, but also new records were achieved. The production of light petroleum products increased from 76% to 80.2%.

These indicators were achieved thanks to the continued activity of the High Conversion Heavy Waste Installation in test mode. With more stable work of the installation, the production of light petroleum products will exceed 90%.

Environmental safety remains one of TAIF-NK’s ​​priorities. The company continues to implement the Clean Air project designed to reduce the negative impact on the atmosphere.

An agreement to equip the source of emissions of polluting substances – the conduct of the BA-201 furnace in the workshop No. 3 of the oil refinery – with an automatic monitoring system for 34.3 million rubles was signed in 2021. Design and study work has started under this agreement to obtain an environmental permit. A detailed qualitative and quantitative examination of emission sources has been carried out at TAIF-NK JSC for the technical and economic feasibility of investments in the design and installation of systems that automatically control emissions of polluting substances.

The activity of TAIF-NK JSC, one of the main enterprises of the republic, is aimed at improving the processes of refining crude oil and producing high quality petroleum products, which directly facilitates the implementation of the programs of development of the republic’s gas and petrochemical complex. in the socio-economic development strategy of the republic until 2020, performs tasks of laying the foundation for national competitiveness.

Affiliate report

Liliya Yegorova. Photo credit: Rinat Nazmetdinov


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COVID resurgence means more working from home – but offices still aren’t going away http://louthonline.com/covid-resurgence-means-more-working-from-home-but-offices-still-arent-going-away/ http://louthonline.com/covid-resurgence-means-more-working-from-home-but-offices-still-arent-going-away/#respond Thu, 19 Aug 2021 06:32:44 +0000 http://louthonline.com/covid-resurgence-means-more-working-from-home-but-offices-still-arent-going-away/

CHAPEL HILL – At the start of the COVID-19 pandemic, a dramatic shift occurred in the number of people working from home. And with the recent rise of the Delta variant, many employees who had started returning to the office this spring and summer have returned to work from their kitchen tables, garages and home offices to comply with efforts to curb the resurgence of the virus.

Employers and employees have grown accustomed to the new arrangement, with both groups now expecting a permanent increase in homeworking (WFH) after the pandemic ends.1.2

Although COVID-19 has accelerated the shift to WFH, the change has been underway for more than 30 years. From the introduction of affordable PCs in the early 1990s to the further development of email, high-speed internet, smartphones, video conferencing technology and cloud computing, the widespread adoption of technological advancements has allowed us to work ever more efficiently at home.

Our recent research3 examines how widespread acceptance of technology has accelerated the transition from highly skilled workers to working from home. We also explore the productivity gains made by homemakers and what the WFH trend means for homes, offices and municipalities.

We start with a model that uses pre-pandemic data to estimate the elasticity of substitution between WFH and office work. Substitutability, in this case, refers to the extent to which work done in the home (largely through technology) is able to replace similar work done in the context of the office. For example, a video conference can easily replace an in-person meeting in the office.

In our model, highly skilled workers choose how to divide their time between working from home and working in the office. We are measuring to what extent, before the pandemic, workers in the same industries and occupations, but with different commuting times, made different choices about how often to work from home. The rate at which workers choose to work from home as travel costs change is informative about how the WFH is substitutable with office work.

What we are seeing is that the WFH is an imperfect substitute for working in the office. This has important implications for understanding the future of the post-pandemic workplace. If the two aren’t perfect substitutes, most workers in the future will continue to split their time between home and office.

In addition, historical evidence (in this case from the European Union [Fig. 1]) shows that the largest increase in WFH in the years leading up to the pandemic, in which technology improved substitutability, was in the share of workers who sometimes, rather than always, worked from home.

Likewise, a 2021 PwC study4 reports that most employers are planning a post-pandemic hybrid office model in which employees work in the office between one and four days per week, rather than a model in which employees can work entirely remotely or report to the office only a few times a month.

In addition to examining the prevalence of WFH after the pandemic, we also analyzed the impact of the pandemic on the adoption of WFH technology and the implications for worker productivity. Our simulation studies a pre-pandemic period in which workers with a college education work from home less than a full day per week, and a post-pandemic period in which these workers double or triple their working time. home. Finally, we study the pandemic period itself – a period in which we assume that office productivity has declined by 50%, reflecting the impact of social distancing on office productivity.

The model implies that the widespread adoption of WFH technology increased home work productivity relative to office work productivity by 30-50% between the start and end of the pandemic.

For comparison, we also simulate what might have happened if the COVID-19 pandemic had occurred in 1990, before many WFH technologies existed. In this model, workers continue to work in the office at the same pace, but office productivity drops by 50%, just like in the current pandemic. The model suggests that, even though incomes and prices fall, working from home was not a practical alternative to working in the office in 1990, implying that the pandemic would have had more serious consequences for household income and mortality if it had occurred in 1990 than it was. until today.

What does this mean for workers?

As previously reported, the widespread adoption of work-from-home technology increased work-from-home productivity relative to office-work productivity by 30-50% between the start and end of the pandemic. . Because of this increase in productivity, the pandemic will likely result in higher lifetime income for white collar workers. The dilemma is that this will also lead to greater income inequality, as most non-white collar jobs cannot be done from home and these workers will not be able to take advantage of the productivity gains due to the technology.

What does this mean for the office?

Because WFH is an imperfect substitute for office work, office space will not disappear. But we will have to adapt. The higher productivity of the WFH and the subsequent doubling of hours worked from home during the pandemic will persist as the virus becomes controllable, leading to an estimated 15-20% drop in office rents in central business districts (CBD ) in the short and long term, if the supply of office space cannot be reduced from pre-pandemic levels.

Additionally, the model suggests that an increase in hours worked from home will lead to a slight decrease in productivity in the office due to a decrease in agglomeration economies.

What does this mean for cities?

The short-term shock to office productivity will have lasting effects on the structure of the city.

Residential rents will increase in the short term, especially in the inner suburbs, due to increased demand for home offices. As highly skilled workers increasingly move to more remote suburbs, CBD office rents will come down, along with property prices and taxes, straining central city budgets.

The net effect of increasing WFH on sustainability and the environment is less clear. Although workers move less, reducing their carbon footprint, home offices are generally less energy efficient than offices in large, well-constructed buildings.

In conclusion, the switch to the WFH may be permanent, but it will not be exclusive. The office will still be needed for some tasks. And while the increased productivity of the WFH experienced by white-collar workers through the effects of learning and adoption will lead to higher lifetime incomes, workers whose jobs exclude them from the WFH will not gain. the same advantage. Finally, the acceleration of the WFH fueled by the pandemic will have substantial short and long term impacts on housing trends, sustainability and municipal budgets.

(C) Kenan Institute of Private Enterprise

This story is reprinted with permission. It was originally posted at https://kenaninstitute.unc.edu/kenan-insight/dont-shut-the-office-door-yet-why-technology-and-work-from-home-wont-displace-the- workplace /

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Professionalize all trades, remove the PMET classification: head of the MAS, Political News & Top Stories http://louthonline.com/professionalize-all-trades-remove-the-pmet-classification-head-of-the-mas-political-news-top-stories/ http://louthonline.com/professionalize-all-trades-remove-the-pmet-classification-head-of-the-mas-political-news-top-stories/#respond Fri, 23 Jul 2021 07:00:00 +0000 http://louthonline.com/professionalize-all-trades-remove-the-pmet-classification-head-of-the-mas-political-news-top-stories/

SINGAPORE – To professionalize all jobs, start by removing the professional, managerial, executive and technical (PMET) job categories, urged the head of Singapore’s central bank on Thursday (July 22).

“If we can’t abolish it, at least remove the ‘P’ from the category: it suggests other jobs are unprofessional. We should question the principle that all Singaporeans should aim for jobs. PMET jobs, ”Singapore Managing Director Ravi Menon said.

Addressing the lingering stigma and low wages faced by traditional “blue-collar workers” such as plumbers and cleaners, he said people should question the principle that all Singaporeans should aim for jobs. PMET jobs.

“Any population would house a distribution of skills, requiring a diversity of paths that can lead to different types of excellence. To be an inclusive society, we must value social and professional skills as much as academic intelligence,” he said. said, citing how skilled trades in European countries provide a middle class way of life for many workers.

“These jobs confer dignity and social status. We need to do the same in Singapore.

He estimated that one in three low-wage service jobs are held by cheap foreign labor, a situation that “cannot be good” for local wages.

One way to solve this problem, he said, is to gradually reduce the inflow of low-skilled foreign labor over a few years. This will promote the adoption of technology, increase productivity and help maintain wage gains across a wider range of occupations.

“The demand for many domestic services like cleaning, maintenance and cooking is inelastic, and wages will have to rise if the number of foreign workers is reduced.

“Rising wages, coupled with improved working conditions and rewarding career prospects, should gradually attract Singaporeans to these domestic services.

Acknowledging that the transition from a low-wage economy to a high-wage economy will be difficult, he said that companies that are excessively dependent on low-cost labor will have to retire, there could be some consolidation in sectors such as retail and food and beverage. , and there could be local job losses in the initial phase.

Mr Menon had previously suggested increasing the minimum allowable wage for S Pass holders and Employment Pass (EP) holders over time, with the minimum allowable wage for S Pass holders being closer to monthly income. median, about $ 4,500.

S Pass holders currently earn at least $ 2,500 per month, with older and more experienced applicants needing higher salaries to qualify.

He said Thursday he was not suggesting that S Pass workers be drastically reduced.

MAS Director General Ravi Menon (left) and Straits Times Deputy Editor-in-Chief Chua Mui Hoong at the Institute of Policy Studies on July 22, 2021. PHOTO: INSTITUTE OF POLICY STUDIES

On the contrary, when S Pass holders are available in large numbers and paid about 30 percent less than locals, there are two possible effects: First, local wages are likely to be depressed; and second, some graduates of FIE and polytechnics may be eliminated from these jobs.

“Why not pay S Pass workers closer to the local median and let the market adjust the job profile? In some occupations we might see an increase in local employment at better wages; we will continue to employ S Pass holders, ”he said.

Education and healthcare in particular, he added, have the potential to grab local jobs at good wages.

According to MAS estimates, the two sectors have an elasticity of substitution of 1.5, the highest among service industries. This means that if the wages of foreign workers in health care or education increase by 10 percent, the demand for local workers as substitutes will increase by 15 percent.

“The key question for Singapore is: do we want a dual economy with high inequalities or a more inclusive society with higher wages but also higher costs? The Nordic countries impose strict limits on low-paid foreign workers, which has facilitated a more equitable distribution of income. , low unemployment and a sustained commitment to productivity and innovation.

“If Singapore is to be a little more like the Nordic countries, it is not only government policies that should be adjusted, but also the mindsets of businesses, citizens and workers. Businesses need to reduce their dependence on cheap labor; citizens must be prepared to pay more for better quality services; and workers must be open to a wider variety of jobs. “

During the question-and-answer session moderated by Chua Mui Hoong, Deputy Editor-in-Chief of The Straits Times, Menon said it was not always true that salary increases would push up cost structures, even if that is conventional wisdom. Singapore, for example, has already seen its costs rise but is still able to compete.

“If we look at the experience of advanced economies elsewhere, they pay their workers well and sell their products at higher prices, but are able to sell them because the quality is high.”

He warned, however, that the minimum wage should not be set too high as it could put some Singaporeans out of work.

“I’ll start with something lower. Look at how things go, see if we can handle the dislocations.

“Advertise this well in advance so companies can adapt – tell them, ‘Look, we don’t want you to lay off your employees, but improve your processes. Consolidate your operations, so that you can pay this minimum wage in a few years’. “

To ensure that workers have good jobs instead of entering the odd-job economy as their first choice, unemployment assistance is important, especially for older workers, he said.

“Their financial resources are limited, so they are in a hurry to find another job … they have fixed expenses which limit their mobility and flexibility.”

He cited Denmark as an example where people are not afraid to move from job to job because they have the time and support to learn and prepare for change.

The paradox is that government has to help people become self-reliant, and that’s why the old left-right ideological divide in policymaking doesn’t make sense, he said.

“The right says people should be self-reliant – if you take care of them they will become dependent. The left says” no, they can’t take care of themselves, you have to take care of them. ” endless and simplistic debate. Over the years, I have come to the conclusion that you cannot leave these things entirely on the market. “

The ideal, he said, is an inclusive, work-centered model where people have to help themselves, but which also provides safety nets in the form of state support. , community and employers.

“You need mechanisms to help you bounce back because these things (like job losses) happen.

“This is the kind of synthesis of the values ​​of trust and support (that we need). We cannot ignore the inequalities in our society. We cannot look the other way.”

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Carbon pricing and offshoring: evidence from Dutch industry http://louthonline.com/carbon-pricing-and-offshoring-evidence-from-dutch-industry/ http://louthonline.com/carbon-pricing-and-offshoring-evidence-from-dutch-industry/#respond Tue, 13 Jul 2021 07:00:00 +0000 http://louthonline.com/carbon-pricing-and-offshoring-evidence-from-dutch-industry/

Carbon pricing is a cost effective instrument to meet emission reduction targets. The introduction of a substantial tax on industrial carbon emissions could be an important part of future climate policy. Proposals for a tax rate of € 100 or € 200 per tonne of CO2e in 2030 in addition to the carbon price in the EU Emissions Trading System (EU ETS) are not uncommon. However, implementing a national carbon tax has proven politically difficult (Stiglitz 2019, Dolphin et al. 2020). A major concern is that such a tax can harm national industrial activity. Another concern is carbon leakage – that is, the reduction in emissions achieved at the national level could (in part) be offset by an increase in carbon emissions in foreign countries with more favorable tax regimes.

In a recent paper (Bollen et al. 2021), we quantify both effects using the WorldScan Computable General Equilibrium (CGE) model, which includes the effects of world trade at a relatively detailed sectoral level. More precisely, we simulate the impact of four policy scenarios including a national carbon tax of 100 € / tCO2e or 200 € / tCO2e in 2030, with tax revenues either being returned as a lump sum to households or used as a targeted subsidy for reducing carbon emissions in Dutch industry. In the latter case, the additional costs of the carbon tax are partly offset, reducing the rise in cost prices and the loss of production for manufacturers. We assess the robustness of the effects for several model parameters, including trade elasticities, clean-up costs and EU ETS prices.

A cost-effective way to reduce national carbon emissions

Table 1 shows the environmental effects of a 100 € / tCO2the carbon tax.1 Dutch industry’s carbon emissions fall by around 40%. That is to say that the tax leads to a reduction in industrial emissions of 58 Mt of CO2e in 2018 to 21 Mt CO2e in 2030, i.e. a reduction of 40% compared to the case without tax (36 Mt CO2e). This substantial reduction in emissions reflects that industrial companies have significant options for reducing emissions at relatively low costs.2 In addition, the rate of carbon emission reduction increases further if tax revenues are redirected to industry in the form of a targeted subsidy for emission reduction. The emission reduction effects are in line with recent empirical results on the EU ETS (Dechezleprêtre et al. 2018).

Table 1 Reduction of carbon emissions thanks to 100 € / tCO2e carbon tax for Dutch industry, compared to the case without tax, in 2030 (%)

Remarks: * Composition effect of the decrease in the activity share of carbon-intensive sub-sectors within industry. ** Effect of the decrease in the activity share of the industry as a whole.

Production losses for industry are modest

At 100 € / tCO2The carbon tax has only modest economic effects. The production loss for Dutch industry is 2-3% (see table 2).3 This result is due to the fact that energy costs are only a relatively small part of the total input costs and the reduction curve is strongly convex (i.e. a large amount of emissions can be reduced with relatively inexpensive reduction options such as carbon capture and storage space). For chemicals and base metals, production losses are about twice as high as the rest of the industry because these sectors are more carbon-intensive and more sensitive to international competition. Previous empirical studies have also found zero or negligible competitiveness effects of carbon pricing (Dechezleprêtre and Sato 2017, Verde 2020).

Table 2 Loss of production due to a 100 € / tCO2e carbon tax for Dutch industry, compared to the case without tax, in 2030 (%)

Carbon leakage remains a potential concern

Despite the limited loss of production for Dutch industry, we see a substantial leakage of carbon emissions to foreign countries (see Table 3). At the carbon tax rate of 100 € / tCO2e, the leakage rate indicates that 61% of the emission reduction achieved nationally is offset by an increase in carbon emissions elsewhere. The leakage effect is relatively large because the loss of production is mainly borne by non-European countries without binding or relatively moderate emission ceilings, such as China and India. Carbon leakage to these countries can be significant due to the differences in carbon intensity of industrial activities and the additional demand for fossil fuels.4 Nonetheless, carbon leakage can be reduced by about a third when tax revenues are used as a targeted subsidy for emission reduction. Sensitivity analyzes which include different trade elasticities, clean-up costs and EU ETS prices generally confirm the pattern of limited production loss for Dutch industry as well as substantial carbon leakage to foreign countries. Overall, our results are slightly higher than recent empirical estimates for the EU ETS (Verde 2020), although they are close to earlier estimates of the business model which take into account the effects of large shocks on carbon prices. (Branger and Quirion 2014, Carbone and Rivers 2017).

Table 3 Carbon leakage due to 100 € / tCO2e carbon tax for Dutch industry, compared to the tax-free case, in 2030

To note: * Defined as (increased carbon emissions outside the Netherlands / reduced carbon emissions in the Netherlands) × 100%.

Final remarks

The carbon taxes analyzed for the Dutch case are substantial (100 € and 200 € / tCO2e) and our analysis thus contributes to a better understanding of the impact of intensified climate policies in the world. In particular, the tightening of the EU ETS, as envisaged by the European Green Deal, could push carbon prices up to, for example, € 100 per tonne of CO2e. Our study suggests that targeted subsidies for reducing carbon emissions can also help reduce the leakage rate in the European case. Future work on other anti-leakage measures, such as border tax mechanisms, is needed to improve the effectiveness of carbon pricing instruments.

The references

Bollen, J, D Freeman and R Teulings (2018), “Trade Wars: Economic Impacts of US Tariff Hikes and Retaliation – An International Perspective,” CPB Backgrounder, November 19.

Bollen, J, D Freeman and R Teulings (2020), “Trade policy analysis with agravity model”, CPB reference document, July 17.

Bollen, J, A Deelen, S Hoogendoorn and A Trinks (2021), “CO2-heffing en verplaatsing”, CPB backgrounder (in Dutch), 23 November.

Branger, F and P Quirion (2014), “Would border carbon adjustments prevent carbon leakage and loss of competitiveness in heavy industry? Insights from a meta-analysis of recent economic studies ”, Ecological economy 99: 29-39.

Carbone, JC and N Rivers (2017), “The impacts of unilateral climate policy on competitiveness: evidence from computable general equilibrium models”, Environmental economics and policy review 11 (1): 24-42.

Dechezleprêtre, A, D Nachtigall and F Venmans (2018), “The Joint Impact of the European Union Emissions Trading System on Carbon Emissions and Economic Performance”, Working Paper of the OECD.

Dechezleprêtre, A, and M Sato (2017), “The impacts of environmental regulations on competitiveness”, Environmental economics and policy review 11 (2): 183-206.

Dolphin, G, MG Pollitt and DM Newbery (2020), “The Political Economy of Carbon Pricing: A Panel Analysis”, Oxford Economic Papers 72 (2): 472-500.

Stiglitz, JE (2019), “Addressing climate change through tariff and non-tariff interventions”, European Economic Review 119: 594-612.

Verde, SF (2020), “The Impact of the EU Emissions Trading System on Competitiveness and Carbon Leakage: The Econometric Evidence”, Journal of Economic Studies 34 (2): 320-343.

End Notes

1 The economic and environmental effects of a carbon tax of 200 € / tCO2e are included in Bollen et al. (2020).

2 We verified the potential and costs of these carbon emission reduction techniques by performing a review of the most recent literature on emission reduction technologies in Dutch industry.

3 As industrial companies cannot fully pass on the additional costs of the carbon tax to their customers, the market price for the industry as a whole increases by 0.4%. As a result, Dutch industry is losing market share in world production, represented by a drop in exports (-2.4%). The degree to which exports respond to a change in price depends on the elasticity of price substitution – the Armington elasticity – which, according to recent empirical estimates, is around 6 for the whole industry ( Bollen et al. 2018, 2020). The drop in exports (i.e. the loss of production) is therefore equal to 6 (Armington elasticity) times 0.4 (increase in market prices).

4 A carbon tax for Dutch industry will reduce exports of carbon-intensive products to other European countries. Subsequently, these countries must increase their own industrial production and reduce their exports to meet domestic demand. In response, non-European countries like China and India are also increasing their industrial production to maintain consumption levels. However, China and India so far do not have binding emission ceilings and the carbon intensity of industrial activities is on average 2.5 times higher than in Europe. In addition, the additional production of industrial products will be accompanied by an increased demand for electricity which is often generated by the use of fossil fuels. As a result, carbon emissions in non-European countries like China and India can be five times higher than in Europe. Finally, additional production in these countries also generates GDP growth, resulting in additional traffic (often based on fossil fuels) and demand for services.

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Deal with youth unemployment in Ghana by supporting the agro-industry and tourism sectors http://louthonline.com/deal-with-youth-unemployment-in-ghana-by-supporting-the-agro-industry-and-tourism-sectors/ http://louthonline.com/deal-with-youth-unemployment-in-ghana-by-supporting-the-agro-industry-and-tourism-sectors/#respond Tue, 29 Jun 2021 22:15:25 +0000 http://louthonline.com/address-youth-unemployment-in-ghana-by-supporting-the-agro-industry-and-tourism-sectors/

As elsewhere in Africa, the difficulty of rising unemployment in Ghana has turn into a significant concern, particularly attributable to rising youth unemployment. Companies have turn into the engine of progress in Ghana, in contrast to the experiences of East Asia and different newly industrialized international locations the place exports of manufactures have pushed progress and elevated the absorptive capability of low-income employees. or reasonably expert. The truth is, in Ghana, the manufacturing sector carried out appallingly, with a mean progress charge of three.2% between 2008 and 2017.

Regardless of the widely robust efficiency of the Ghanaian economic system over the previous twenty years (albeit with a slowdown in current occasions), there’s a lag between GDP progress and employment, a development that has continued for a few years. , the nation having a mean employment-growth elasticity of 0.5 over the previous twenty years. Nevertheless, current knowledge signifies the position of rising excessive productiveness sectors, reminiscent of agribusiness, tourism and horticulture, amongst others, which share traits with manufacturing (particularly within the employment of guide labor). – low to medium expert employee), in fixing the issue of youth unemployment by creating respectable jobs in Ghana.

So, to look at how Ghana might take advantage of current progress traits for job creation, we lately printed an article figuring out which of those sectors might play this position in Ghana. This analysis is a component of a bigger multinational coverage undertaking to allow ‘Smoke-Free Industries’ (IWOSS) to develop and soak up low-skilled labor. (For extra on this undertaking, see “Exploring New Sources of Giant-Scale Job Creation: The Potential Position of Chimney-less Industries.”)

The state of the Ghanaian economic system

The robust efficiency of the Ghanaian economic system over the previous twenty years has not translated into job creation or improved employment situations, particularly for the nation’s rising youth inhabitants (Determine 1) . As well as, the nation’s conventional dependence on commodities, together with gold, cocoa and, extra lately, oil, for exports has uncovered it to worldwide fluctuations in commodity costs, making the extra pressing want for diversification and structural transformation.

Determine 1. GDP progress and employment in Ghana

Supply: Authors’ illustration primarily based on WDI knowledge.

With a nationwide common unemployment charge of round 6 %, youth unemployment (these aged 15-35) is way larger at 12.1 % with an extra 28 % of the labor pressure because the discouraged employees. With no unemployment advantages within the nation, unemployment is just not an possibility for most individuals, particularly younger individuals who typically flip to the casual sector for earnings. The truth is, 1 in 3 younger folks in Ghana are self-employed within the non-agricultural sector as self-employed in susceptible jobs.

Employment projections present that IWOSS sectors will dominate employment sooner or later

In our article, we discover that the IWOSS sectors, specifically agro-industry and horticulture, transport and storage, lodges and eating places (tourism) and development, will contribute simply over 50 % of whole employment by 2035 (see desk 1).

Desk 1. Employment in IWOSS and non-IWOSS (2017-2035)

Table 1. Employment in IWOSS and non-IWOSS (2017-2035)

Word: This desk is a truncated model of Desk 20 within the full article.
Supply: Authors’ calculations primarily based on Nationwide Revenue Accounts (printed by the Ghana Statistical Service), GLSS V and GLSS VI, Nationwide Finances and Financial Coverage Statements. See Annex C for the methodology used within the projections to 2035.

The job creation potential of agribusiness and tourism

In our analysis, we determine agribusiness and tourism because the IWOSS sectors finest positioned to fulfill this problem in Ghana attributable to their excessive potential for job creation and the demand for low to reasonable abilities – a attribute which is in line with the ability spectrum of the unemployment pool within the nation. Certainly, the outlook for the agro-industry and tourism sectors in Ghana is excessive when it comes to progress and different constructive spillover results with job creation alternatives. The agro-food {industry} is dominated by micro and small enterprises concerned in including worth alongside the agricultural worth chain in horticultural merchandise, greens, roots and tubers and palm oil for nationwide markets and foreigners. Within the area of tourism, Ghana has a number of pure, cultural and heritage sources (for instance, historic forts and castles), nationwide parks, an attractive shoreline and distinctive creative and cultural traditions which could be a supply of nice attraction. for the worldwide group. .

1 in 3 younger folks in Ghana are self-employed within the non-agricultural sector as self-employed in susceptible jobs.

As well as, these IWOSS sectors have been strategically focused as a part of the federal government’s flagship industrial transformation program to deal with the challenges of job creation, promote import substitution, improve export earnings and stimulate rural earnings era. .

What abilities are wanted to develop the IWOSS sectors?

Regardless of this promise, quite a lot of obstacles stand in the way in which of the expansion of those sectors and their capability to soak up jobs. Amongst these challenges, the persistent youth abilities hole is on the fore: our projections usually recommend that low-skilled jobs (i.e. these requiring much less highschool schooling) will proceed to dominate and that their significance would possibly solely lower barely. Thus, we discover {that a} deliberate public effort is required to make sure that younger folks will be absorbed into IWOSS sectors, which requires abilities upgrading.

To higher perceive the nuances of those gaps, we carried out a survey of a pattern of agribusiness and tourism firms wherein we inquired in regards to the abilities required for potential workers. The survey outcomes present that the majority workers have primary and social abilities, which conveniently meet the wants of employers. Conversely, systemic abilities (developed abilities used to know, monitor and enhance socio-technical programs and likewise important for employers) have been proven to be inadequate amongst workers of tourism and agro-industry enterprises. Determine 2 reveals the variations between the present ability stage of employees and the expectations of employers.

Determine 2. Expertise hole in tourism and agribusiness firms

Figure 2. Skills gap in tourism and agribusiness companies

Supply: Authors’ calculations primarily based on survey knowledge.

Importantly, on condition that the businesses surveyed broadly reported that digital abilities reminiscent of knowledge administration and analytics, manufacturing administration, cell transactions and social promoting (in agribusiness), in addition to On-line communication and cell transactions (in tourism) will probably be important for future workers, policymakers ought to attempt to higher combine this capability constructing into packages.

Unlock IWOSS Progress Potential and Shut Expertise Gaps

In an effort to uncover the job creation capability of the IWOSS sectors, the principle constraints hindering the expansion of those sectors should be addressed. Within the case of tourism companies, these constraints embrace tax charges, insurance policies and administration; entry to credit score; and the availability of electrical energy. For firms within the agro-food sector, these constraints embrace electrical energy provide, entry to credit score, unfair practices of casual opponents, and customs and commerce laws.

First, we suggest an overhaul of the general coverage setting in favor of coaching younger folks within the abilities required to be productive in all sectors of the economic system. Particularly, the federal government ought to prioritize and improve enrollment in Technical and Vocational Training and Coaching (TVET) to achieve sensible employable abilities to help progress and supply a sustainable employment path for younger folks.

Second, the institution of business parks, which depends on the constructive spillover results and linkages related to clustering and agglomeration, is usually acknowledged as important for industrial growth. Assist to the non-public sector by the Ghana Free Zones Authority and the Ghana Funding Promotion Heart for the institution of business park and particular financial zone infrastructure is anchored on these potential advantages.

Third, we suggest the strategic growth of infrastructure as a necessary stimulus to the dynamic of diversification and industrialization of the nation. Fourth, the federal government ought to step up its efforts to supply long-term financing to help the worth chains of those sectors and improve them to resolve the issue of IWOSS firms that aren’t properly superior, with a comparatively excessive diploma of added worth. low by all firms at totally different phases. .

In the end, we discover that the agribusiness and tourism sectors will be essential in addressing the challenges of the nation’s jobless progress, if interventions reminiscent of improved infrastructure, higher entry to long-term finance time period and improved digitization, amongst others, will be applied. These efforts must be complemented by numerous incentives for native companies in addition to institutional preparations to extend native demand. (See the doc for a full checklist of coverage suggestions.) Lastly, given the rising significance of applied sciences in agribusiness and tourism, the nation must put money into complementary digitization for actors to adapt and be aggressive within the altering nature of labor globally. .

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Business News | Stock market and stock market news http://louthonline.com/business-news-stock-market-and-stock-market-news/ http://louthonline.com/business-news-stock-market-and-stock-market-news/#respond Thu, 24 Jun 2021 07:00:00 +0000 http://louthonline.com/business-news-stock-market-and-stock-market-news/

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  • UPSC Civil Service 2020 result: सेवा परीक्षा 2020 का रिजल्ट घोषित, शुभम कुमार ने किया टॉप, 761 कैंडिडेट पास

  • 10,000, टाइम!

  • शेयर ने एक साल में दिया 4 गुना मुनाफा, एनालिस्ट से जानिए अभी कितना बाकी है दम

  • पहली बार 60,000 के पार हुआ बंद, एनालिस्ट से जानिए सोमवार को कैसी रहेगी बाजार की चाल

  • Oyo का IPO में 12 अरब डॉलर से अधिक वैल्यूएशन का टारगेट, हिस्सेदारी नहीं बेचेंगे फाउंडर

  • Face-to-face India China: ‘अवैध रूप से LAC को पार किया’, गलवान घाटी हिंसा के लिए चीन ने भारत को ठहराया जिम्मेदार

  • Daily hunt के कोफाउंडर ने बेंगलुरु में 16.5 करोड़ रुपए का विला खरीदा, जानें खासियत

  • Taj Hotel इस कर्मचारी ने ऐसा क्या किया, खुद रतन टाटा ने इसकी तारीफ में

  • 8 महीने में 10,000 चढ़ा, इस दौरान 42 स्टॉक बने मल्टीबैगर

  • और कश्मीर: श्रीनगर में 10 कोरोना कर्फ्यू का ऐलान, यहां जानें पूरी डिटेल

name Price Switch % variation
Indiabulls Hsg 225.85 -3.80 -1.65
Sbi 440.75 -9.05 -2.01
Ntpc 124.25 -1.95 -1.55
Nhpc 27.95 0.20 0.72




Which of these young people will score the most points in this ipl?

Which of these young people will score the most points in this ipl?


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