Category Archives: Resource Based Economy

Japan will strip Russia of its "most favored nation" status to punish Moscow for its aggression in Ukraine, following in the footsteps of the United States and European nations, Prime Minister Fumio Kishida said Wednesday.

To hold Russia accountable for its "irrational and inhumane" onslaught, Japan will take additional sanctions by expanding the scope of asset freezes targeting elites and business oligarchs close to President Vladimir Putin, he said.

"We will take severe sanctions against Russia in coordination with the United States and European nations in the G7," Kishida said at a press conference, noting that "resolute" action is necessary.

"Do we want an international order based on universal values such as freedom, democracy, the rule of law and human rights, or one that tolerates the use of force to change the status quo and is based on the rule of force?" he said.

The "most favored nation" status under World Trade Organization rules has given Russia the best possible trade terms on key products.

The Group of Seven -- Britain, Canada, France, Germany, Italy, Japan and the United States, plus the European Union -- had vowed to take independent actions to stop their favorable treatment of Russia.

The status removal would mean higher tariffs on Russian products. Consumers in Japan would see Russian crabs, salmon and other seafood items sold at higher prices.

Revoking the status by itself does not immediately affect energy resources, ranging from liquefied natural gas, crude oil and coal, to palladium, a key metal used in electronics, because they are tariff-free.

For resource-poor Japan, how far it can go in punishing Moscow is a delicate balancing act, given Russia is one of the major LNG exporters to the country.

"For a net importer of energy and food items, the blows to the economy and people's livelihoods are concerning," he said, as Russia has begun to take retaliatory steps and commodity prices have been surging.

"But we can never give in to threats posed by Russia to show that we are with the people of Ukraine and to protect the peace and order of the international community," he said.

Asked about the future of oil and gas projects on Sakhalin island in the Russian Far East, the prime minister stressed the need to factor in energy security before deciding on cutting reliance on Russian resources.

The government and Japanese companies hold interests in the projects. The Russian military attack since late February has prompted U.S. oil major Exxon Mobil Corp to announce its withdrawal from the Sakhalin 1 and Britain's Shell PLC from the Sakhalin 2.

Japan has joined other members of the G7 in removing some Russian banks from the international payment network SWIFT but not an oil embargo imposed by the United States, a net energy exporter.

Following through on the G7 pledge, Japan will block Russian access to financing by international organizations, such as the International Monetary Fund and the World Bank, Kishida said.

The war in Ukraine has sent ripples beyond Europe to the Indo-Pacific region where China's economic and military clout has heightened tensions and raised regional concerns. With China and Russia having close relations, eyes are on Beijing's response as pressure mounts on Moscow to end its offensive, a violation of international law.

Any unilateral use of force to change the status quo should not be tolerated in Ukraine or anywhere, Kishida said, adding, "We call on China to take responsible action."

Kishida vowed to send additional supplies to Ukraine on top of bulletproof vests and helmets and to extend humanitarian assistance by taking in people fleeing the conflict-hit Eastern European nation and assisting them in their daily lives in Japan.

The government has begun accepting people from Ukraine via third countries, giving them short-term visas. Those who have relatives and acquaintances have received priority in entering Japan, but the government is arranging to open the door for those who do not and allow them to work if their stay is prolonged.

"In Japan, we say, 'We have each other when in trouble,'" Kishida said. "We would like to offer help to people evacuating Ukraine."

See more here:

Japan to revoke Russia's most favored nation status over Ukraine - Japan Today

Vancouver, BC - TheNewswire - March 16, 2022 - Global Energy Metals Corporation (TSXV:GEMC) (OTC:GBLEF) (FSE:5GE1) (Global Energy Metals, the Company and/or GEMC), a company involved in investment exposure to the battery metals supply chain, is pleased to report a drilling contract has been executed with Schonknecht Drilling Pty Ltd. for 2022 work at the Millennium Project in NW Queensland. Drilling is currently scheduled to commence in April.

With over $10 million raised at the end of last year, Global Energy Metals joint venture partner, ASX listed Metal Bank Limited (MBK), is fully capitalized to pursue and sole fund this work program as part of MBKs right to earn up to 80% of the Millennium Copper, Cobalt and Gold project which holds a JORC 2012-compliant Inferred Resource of 5.9Mt @ 1.08% CuEq1 across 5 granted Mining Leases.

In 2021, MBK established an Exploration Target of 810Mt @ 1.0-1.1% CuEq2, with the first drill program intercepting 5m @ 2.92% Cu, 0.50% Co and 1.19g/t Au (within 22m @ 2.22%)3 and confirming northern extensions to the mineralisation system.

The 2022 drilling program is aimed at expanding existing resources at the Central and Southern Areas and defining new resources in the Northern Area with the overall goal of converting the Exploration Target into resources.

Click Image To View Full Size

Figure 1: MI21RC07 drill setup nearing completion of 2021 drill program

Highlights

GEMCs JV partner funded 2022 exploration program at the Millennium Cu-Co-Au Project, NW Queensland is underway with drilling to commence in April;

The Project holds a JORC 2012-compliant Inferred Resource of 5.9Mt @ 1.08% CuEq2 across 5 granted Mining Leases;

The 2022 exploration program includes extension, infill and metallurgical work aimed at significantly increasing existing resources to underpin an updated JORC 2012 Resource statement in late 2022;

The Project provides exposure to copper and cobalt in demand, critical components for the renewable energy transition;

Global Energy Metals currently holds 100% of the MIllennium project with MBK having the right to earn, in stages, up to an 80% interest in the Project; and

With a recent successful capital raising by MBK, GEMC will benefit from having a well funded partner to pursue exploration and development work at Millennium aimed at increasing the projects Resources.

Commenting on the Millennium exploration program for 2022, Metal Banks Chair, Ins Scotland said:

The 2022 work program at Millennium is aimed at increasing the existing Millennium Resource of 5.9Mt @ 1.08% CuEq1. As Australia looks to establish itself as a global critical minerals supplier, at a time of supply constraint and unprecedented copper and cobalt prices, the Millennium projects current Resource already provides significant value not yet factored into the current share price. With a combination of resource growth and the projects granted Mining Leases the project presents a real opportunity for near-term development.

Copper and Cobalt

The Millennium Project provides exposure to copper and cobalt in demand, critical components for the renewable energy transition.

Cobalt has increased 11,500 USD/MT or 16.31% since the beginning of 2022 and copper reached a record high above the $5-per-pound level in March (see Figure 2).

Located on granted Mining Leases, with an existing Resource and significant expansion potential, the Project presents an excellent opportunity to advance and develop a copper-cobalt asset of significant size in close proximity to processing solutions and excellent infrastructure in the Mount Isa region. With escalating prices, Millenniums low logistics and processing risks, the project is well placed to participate in the battery revolution.

Click Image To View Full Size

Figure 2: Cobalt and Copper price charts: source tradingeconomics.com

Millennium Work Program

A three-phase work program for 2022 has been developed to confirm the Exploration Target and future Resource expansion and development potential.

Click Image To View Full Size

Figure 3: Millennium Cu-Co-Au Project long section showing existing drilling, current resource blocks and priority targets. NB: Intervals are CuEq%-metre as previously reported.4

The work program comprises:

Phase 1 1800-2000m RC/DD Exploration Target confirmation of scale drilling program. The aim of this program will test the open Southern and Central Area shoots at depth, the shallow Northern Area extension and infill, and adjacent Pilgrim/Fountain Range/Quamby Fault Zone resource potential;

Phase 2 2000m RC/DD drilling extension program to infill Resource gaps, extend near surface existing Resources, first pass testing of peripheral targets and Phase 1 follow-up; and

Phase 3 1500m RC Resource infill, metallurgical test work, economic assessment and follow-up work from Phase 1 and 2.

Upon receipt and assessment of results MBK will embark on a JORC 2012-compliant Resource update and Scoping Study utilising appropriate economic parameters aimed for completion late 2022.

Click Image To View Full Size

Figure 4: Millennium Cu-Co-Au Project plan showing interpreted geology, 2016 Inferred Resource and drilling to date.

Millennium Project MBK earning up to 80%

The Millennium Copper and Cobalt Project near Cloncurry in NW QLD currently holds a JORC 2012-compliant Inferred Resource of 5.9Mt @ 1.08% CuEq1 (Cu-Co-Au-Ag) across 5 granted Mining Leases with significant potential for expansion.

The Millennium Project is located 19km from the Rocklands copper-cobalt project, operated by Copper Resources Australia Pty Ltd., with an established processing plant capable of treating Millennium-style ores once recommissioned.

Recent MBK drilling provided confidence in growth upside to the existing Resource. This included encouraging infill/extension work in the Southern Area Resource (MI21RC01-2) and significantly expanding the system strike and scale into the Northern Area (MI21RC03-07) (Figures 3 &4).

Following completion of the recent drill program a review commenced of the existing Resource in the Southern and Central Areas of the Project, recent drill results and other previous drilling. In conjunction with significant appreciation in copper and cobalt prices since maiden Resource reporting, results from this review provided support for an initial Exploration Target3,4 for the Project of 810Mt @ 1.0 1.1% CuEq2 (Figures 3 &4).

This Exploration Target is based on extensions both along strike and at depth in both the Southern and Central Area copper-cobalt-gold Resources and also in the Northern Area, where shallow copper intervals at broad spacing have been returned some 800-1000m north of the closest Resource.

It should be noted that the Exploration Target is conceptual in nature. There has been insufficient drilling at depth of the existing Resource and in the Northern Area of the project and insufficient information relating to the Reasonable Prospects of Eventual Economic Extraction (RPEEE) of the Millennium project to estimate a Mineral Resource over the Exploration Target area, and it is uncertain if further study will result in the estimation of a Mineral Resource over this area. It is acknowledged that the currently available data is insufficient spatially in terms of the density of drill holes, and in quality, in terms of final audit procedures for down hole data, data acquisition and processing, for the results of this analysis to be classified as a Mineral Resource in accordance with the JORC Code.

Qualified PersonMr. Paul Sarjeant, P. Geo., is the qualified person for this release as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

1 HMX ASX Announcement dated 6 December 2016 and MBK ASX Release dated 13 December 2021 MBK signs Earn-in and JV Agreement for the Millennium Project.

2 MBK ASX Release dated 13 December 2021 MBK signs Earn-in and JV Agreement for the Millennium Project.

3 MBK ASX Release 2 September 2021 Millennium drilling completed with first two holes assayed

4 MBK ASX Announcement dated 26 October 2021 Livingstone Acquisition & Entitlement Offer to raise $6.34M

Global Energy Metals Corporation

(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)

Global Energy Metals Corp. offers investment exposure to the growing rechargeable battery and electric vehicle market by building a diversified global portfolio of exploration and growth-stage battery mineralassets.

Global Energy Metals recognizes that the proliferation and growth of the electrified economy in the coming decades is underpinned by the availability of battery metals, including cobalt, nickel, copper, lithium and other raw materials. To be part of the solution and respond to this electrification movement, Global Energy Metals has taken a consolidate, partner and invest approach and in doing so have assembled and are advancing a portfolio of strategically significant investments in battery metal resources.

As demonstrated with the Companys current copper, nickel and cobalt projects in Canada, Australia, Norway and the United States, GEMC is investing-in, exploring and developing prospective, scaleable assets in established mining and processing jurisdictions in close proximity to end-use markets. Global Energy Metals is targeting projects with low logistics and processing risks, so that they can be fast tracked to enter the supply chain in thiscycle. The Company is also collaborating with industry peers to strengthen its exposure to these critical commodities and the associated technologies required for a cleaner future.

Securing exposure to these critical minerals powering the eMobility revolution is a generationalinvestment opportunity. Global Energy Metals believe the the time to be part of this electrification movement.

For Further Information:

Global Energy Metals Corporation

#1501-128 West Pender Street

Vancouver, BC, V6B 1R8

Email: info@globalenergymetals.com

t. + 1 (604) 688-4219

http://www.globalenergymetals.com

Twitter: @EnergyMetals | @USBatteryMetals | @ElementMinerals

Subscribe to the GEMC eNewsletter

Cautionary Statement on Forward-Looking Information:

Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although Global Energy Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that managements beliefs, estimates or opinions, or other factors, should change.

GEMCs operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.

For more information on Global Energy and the risks and challenges of their businesses, investors should review the filings that are available at http://www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

We seek safe harbour.

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Global Energy Metals Announces Partner Funded Drilling Campaign to Commence at the Millennium Cobalt-Copper-Gold Project - TheNewswire.ca

By AFP

Rising prices for food, sent soaring by Russia's invasion of Ukraine, are stoking fears of hunger and turmoil in a troubled corner of the Democratic Republic of Congo.

In this vast, poor and fragile country in the heart of Africa, three-quarters of households live below the poverty threshold.

But precarity is especially keen in the DRC's northeast, where the economy is hobbled by geographical remoteness and decades of violence.

"The authorities need to see what they can do, otherwise we are going to die of hunger," said Pascaline Buhume, a food hawker in Bukavu, a city on the southern flank of Lake Kivu which separates the DRC from Rwanda.

The local price of corn meal, rice, sugar, oil and tomatoes have all shot up, posing a mighty challenge for those who have to survive on a couple of dollars a day.

A 50-kilo (110-pound) sack of sugar which previously cost the equivalent of $43 now goes for $60, said Buhume.

A 20-kilo canister of cooking oil now costs $45 instead of $30, and a 25-kilo sack of rice has risen from $18 to $20.

A worried mother-of-five pointed out that a loaf of bread that previously went for 1,000 Congolese francs (50 cents) now cost 1,200 francs.

Janvier Mizo Kabare, president of a Kinshasa-based consumer rights group called LICOSKI, said Bukavu was an inflationary hotspot, suffering not just from a "dizzying spiral" in food costs but also a worrying rise in the price of fuel.

The average cost for a tanker bringing in petrol from across the border has risen from $726 to $900, said Urbain Kange, secretary of Bukavu's fuel industry association.

"We are doing what we can, but our suppliers in Tanzania, Rwanda and in Kenya tell us there is a shortage at their end," he explained.

Several petrol stations in Bukavu are already out of fuel, and the scarcity itself forces up prices.

"Getting fuel is becoming a real hassle," said Jeremie Cito, a motorbike taxi driver. As a result, he now had to charge 1,000 francs for a short run compared to 500 before, he added.

The situation is worsened by the fact that the province relies entirely on imports, said Paulin Bishakabalya, economics analyst with the Congo Federation of Businesses (FEC).

Rice, wheat, corn and oil could all be produced locally, he pointed out.

Eninga Abwe, who heads Bukavu's external trade office, said inspectors were being sent out to check markets for price-gouging.

Russian's invasion of Ukraine has dealt a blow to grain exports from both countries, which are major producers of wheat and other cereals.

Bishakabalya said the fog of uncertainty shrouding the world grain market was prompting some operators to hold back stock, and "that is pushing prices up too".

"The government has to act urgently," he said, calling for measures to spur production at home.

The DRC boasts massive mineral resource and millions of hectares (acres) of potential farmland.

But turning that land into productive agriculture requires capital to fix the country's decrepit transport system and political will to address administrative and other bottlenecks.

According to the World Bank more than 70 percent of the DRC's 90 million people live below the poverty threshold -- less than $1.90 a day.

UN Secretary General Antonio Guterres warned on Monday that the Ukraine crisis meant the world had to act to prevent a "hurricane of hunger and a meltdown of the global food system."

Eighteen African and less-developed countries import at least 50 percent of their wheat from either Ukraine or Russia, he said -- and among them was the DRC.

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Ukraine invasion sparks fears of hunger in eastern DR Congo - The East African

This week, as South Africa awaited the budget speech to hear what the government deems as the countrys financial priorities for 2022/23, small-scale fishers from the West Coast were preparing to go head-to-head with Searcher Geodata in the Western Cape High Court on Thursday.

The goal is to end the companys seismic operations, which pose a significant threat to coastal livelihoods. Anyone who still touts oil and gas as a positive game-changer is conveniently ignoring how resource curses have already led to a significant deterioration in living conditions in a number of African countries. Research showing this should be evidence enough that investing in oil and gas will not improve South Africas economy.

Research indicates that on average, countries with an abundance of non-renewable resources (or minerals) tend to suffer from the resource curse, which means they have lower levels of economic development and growth than those without such resources. In addition, countries rich in extractive resources such as South Africa tend to have higher levels of inequality, lower levels of democracy and increased levels of corruption.

The reality is that these countries tend not to reinvest their wealth to develop their own economies. This is largely the result of weak political institutions and underdeveloped civil societies which make it possible for political elites within mineral-rich countries to monopolise the ownership of these resources, thus redirecting much of the income to themselves. This often-deliberate mismanagement of resource revenues means that mineral resource-rich countries tend to underinvest in education and other important public goods, much as we see in South Africa. This underinvestment is exacerbated by the neglect of taxes as a source of revenue because extractive revenues are so high.

In addition, resource-rich countries fail to adequately diversify their economies, often prioritising the quick gains that come from extraction, over more sustainable, long-term economic planning. This often results in the agricultural sector being neglected, leading to increased poverty in rural populations. It also leads to underemployment as jobs are not created in other economic sectors. All of this is further compromised by the volatility of mineral resource prices, which causes unstable revenue streams, a situation made worse by commodity trading, since this attracts more speculative and short-term trading activity.

It is therefore unsurprising that this unstable and chaotic context gives rise to conflict between different political forces within countries over access to mineral profits. Seriously compounding the problem of the resource curse is the phenomenon known as Dutch Disease the paradox that occurs when non-renewable resources, such as the discovery of large oil reserves, harm a countrys broader economy which more often than not leads to economic recession.

The oil and gas industry exemplifies this disturbing trend in Africa. But more than this, African countries also tend to suffer a double whammy, because, coupled with the resource curse, this resource-rich continent also suffers from the presource curse as it is dubbed by a World Bank Working Paper. This is where countries that are targeted by oil and gas companies, such as those in Africa, experience slower economic growth but more social problems than those with fewer mineral resources. The World Banks research analysed 12 sub-Saharan African countries which had found oil and gas deposits during the period 2001-June 2020, and it was found that all these countries fell short of the inflated forecast expectations.

There were three reasons for their presource curse.

First, the commercial viability of the oil and gas resources for all countries was overvalued. These overestimations result from companies wanting to emphasise positive results to inflate their share prices. This, of course, results in governments and other companies exploring the same areas and being misled by these inflated potential results.

Second, oil and gas projects frequently run late and end up costing more than budgeted. In Africa especially, these overruns are likely to make extractive projects even less commercially viable.

Finally, African government revenues tend to fall significantly short as much as 63% lower than initial forecasts due to incorrect production rates, which are always lower than what was initially forecast. There are also challenges associated with taxation on production.

Nigeria, for instance, the largest oil producer in Africa, is an excellent example of the resource curse in action. For a long time, Nigeria was one of the top 10 global oil producers and the countrys estimated earnings are said to be between R5,822-billion and R8,733-billion in oil revenue since 1960. However, despite the enormous wealth oil has generated for this country, Nigerias Human Development Index (HDI) value for 2019 was 0.539, ranking at 161 out of 189 countries and territories. Compare this with Costa Rica, a country with considerably fewer mineral resources, which ranks 62 on the HDI.

The World Bank calculates that Nigerian per capita income is R32,456, compared with a global average of R266,349, while the adult literacy rate is only 62% (2018). According to a 2019 Poverty and Inequality in Nigeria report, 40% of the total population, or almost 83 million people, live below the countrys poverty line of 137,430 naira (R5,556) per year (National Bureau of Statistics, 2020).

To reiterate, investing in an oil and gas industry does not bode well for South Africa, a country with unprecedented poverty and unemployment levels, which continue to deteriorate. The time has come to stop the madness of chasing after elusive game-changers which are in fact game-spoilers and being naive or ignorant about the curse that oil and gas will bring to South Africa.

The time has come for the government to look at the evidence around us and to consider what it is our society really needs: to focus on the real game-changers such as investing in South Africas care economy and the just transition. DM

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OPINIONISTA: The curse of oil and gas, and the unfulfilled promises of resource-based economic development - Daily Maverick

DUBLIN, February 23, 2022--(BUSINESS WIRE)--The "Trend Opportunity Profile: B2B Sharing Economy" report has been added to ResearchAndMarkets.com's offering.

Businesses have already realized that sharing assets will bring not only multiple, sustainable added values but also financial and social benefits. Consumption within businesses will shift from the ownership model to the usership model.

Businesses have realized that reducing the use of natural resources through sharing helps bring down CO2 emissions and carbon footprints. Shift in consumption model from ownership to usership within businesses, rapid adoption of digital technology, the realization of economic benefit through collaborative consumption, and crowd-sourced assets and services will drive the growth of B2B sharing economy in the future. Sharing economy also opens up new avenues of revenue generation through renting or sharing idle capital-intensive equipment. There has been a surge in the number of start-ups in this space, enabling easy and secure sharing of resources.

B2B sharing will pace up like what B2C sharing is today in the next 10 years: B2B sharing economy will be recognized by big organizations as being one of the profitable routes to revenue from the capital-intensive idle equipment. Smaller and medium-sized enterprises will see B2B sharing economy as a way of reducing cost and minimizing initial set-up investment. Emerging regions will see more growth of the B2B sharing economy. The APAC region will have the highest potential for growth of B2B sharing economy in the next few years. Company and consumer willingness to share assets is highest in this region. Companies functioning within the B2B sharing space will continue to witness increased funding.

This is a comprehensive study on the present and future scenario of sharing economy models within the B2B space and is a detailed analysis of the various business models in the B2B sharing economy space. This research service also covers analysis on the level of investment or funding being injected into the B2B sharing economy space a and the regional prospects of the B2B sharing economy, and the industries which will see the upsurge of the B2B sharing economy. The study also captures future growth opportunities within this space.

Story continues

Key Issues Addressed

What do we understand about the B2B sharing economy and what are the different business models within this space?

What is the investment and funding potential of the B2B sharing economy over the next decade?

Which industries will see the highest adoption of the B2B sharing economy model and what will be the future impact of this model on these industries?

What new innovations and functionalities will be emerging in this space over the next decade?

What are the key growth opportunities to watch out for in the next decade?

What are the critical success factors for growth, primarily for companies seeking to enter this space?

Key Topics Covered:

1. Strategic Imperatives

2. Growth Environment

3. Sharing Economy in B2B

Trend Opportunity Overview

Key Themes of B2B Sharing Economy

B2B Sharing Economy Model - Marketplace-based Model

B2B Sharing Economy Model - Access-based Model

B2B Sharing Economy Model - On-demand Model

Evolving Trends by Industry

Trend Opportunity - Attractiveness Analysis

Trend Opportunity - Regional Exposure

Trend Opportunity - Industry Implications

Trend Opportunity - Levers

Case Study - Flexible Shared Workspaces

Case Study - B2B Crowd-funding Platform

Case Study - Fleet Sharing

Case Study - Rental-as-a-service

Case Study - Sharing Medical Resources

Case Study - B2B Sharing Marketplace

Trend Opportunity - Impact and Certainty Analysis

Trend Opportunity Matrix - Trend Innovation Index

Innovation Attractiveness Score

Trend Opportunity Matrix - Trend Growth Index

Growth Attractiveness Score

Trends - Beets Implications

4. Growth Opportunity Analysis

Growth Opportunity 1 - B2B Sharing that Enables Supply-chain-as-a-Service for Increased Asset Utilization and Operational Efficiency of Firms within the Supply Chain

Growth Opportunity 2 - Human Resource-as-a-Service will Ensure Huge Cost Savings in the B2B Landscape

Growth Opportunity 3 - Manufacturing-as-a Service with B2B Sharing Model for Greater Economic Returns

Critical Success Factors for Growth

Conclusion - The Way Forward

For more information about this report visit https://www.researchandmarkets.com/r/nafa03

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220223005694/en/

Contacts

ResearchAndMarkets.comLaura Wood, Senior Press Managerpress@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470For U.S./CAN Toll Free Call 1-800-526-8630For GMT Office Hours Call +353-1-416-8900

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Global B2B Sharing Economy: Human Resource-as-a-Service will Ensure Huge Cost Savings in the B2B Landscape - ResearchAndMarkets.com - Yahoo Finance

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Opinion: Will the B.C. Economic Plan do enough to remove barriers that are holding back homegrown talent from joining the sectors such as agritech, life sciences and digital media that will drive our province forward?

It wasnt that long ago that in this province you could work in a family-supporting job with a high school education.

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My grandfather grew up on a farm in Surrey and worked in the mills along the Fraser River. He provided for his family and was active in the trade union movement, fighting to establish better working conditions and wages.

My father was employed in forestry and mining, and eventually moved the family to Campbell River, where many of my high-school friends worked at the local mine or mill after graduation. These jobs paid well and afforded them the opportunity to buy a home and support their own young families. We were competing and winning in a resource-based economy.

Times have certainly changed.

Within a generation, these resource-based jobs once the lifeblood of our province and accessible for many have significantly declined, shifting instead to technology-focused roles, often in a digital space.

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The barrier to employment in these sectors is high, with the vast majority of employment opportunities today requiring at least a post-secondary education.

The newly released B.C. Economic Plan promises investment in training for the jobs of tomorrow, but will this plan do enough to remove barriers that are currently holding back homegrown talent from joining the economies that will drive our province forward?

At Invest Vancouver, we know jobs in sectors such as agritech, life sciences, digital media and entertainment will be a substantial part of B.C.s future economy. Occupations in these and other high-tech or digital sectors benefit the residents of our region as they are generally well-paying, provide competitive benefits and are relatively future-proof but almost entirely inaccessible without at least a university degree.

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Post-secondary education is often expensive and time-intensive, which can be a challenge to most workers looking to retrain or upskill, but even more so for those who are low income, women and minorities. Indigenous people have a critical role in this provinces economy, yet are often marginalized from accessing education.

If education has become an unavoidable barrier between people and high-paying, family-supporting jobs, then how do we ensure that job-ready skills training is attainable and equitable?

The economic benefits of making skills training more accessible are clear a well-trained workforce can attract outside investment. In Invest Vancouvers recent analysis of our regions clean transportation sector, firms overwhelmingly reported that highly specialized local talent draws them to Metro Vancouver in the hydrogen sector, the engineering expertise in our region leads the world. Yet very few training opportunities exist in the province to support these jobs so much so that students are often recruited before they graduate from their programs. We must be mindful that an inability to keep up with workforce demands means we may lose clean transportation firms looking to establish themselves in our region.

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In its economic plan, the province stated it will advance inclusive and clean growth to create a low-carbon economy that works for everyone.

By focusing on how to advance broadly shared prosperity for all, supporting the export-oriented sectors where we have productive advantages and addresses barriers to future economic growth, we are on a better path to supporting our provinces workforce and attracting investment to our region. However, we must do more to establish an education and talent system that is accessible, connected, scalable and supportive of the jobs that will sustain the families of the next generation in B.C.

Just as the generation before me could not imagine a time when high-tech jobs would replace the once-prosperous mill in the town where I grew up, I dont know exactly what the future of work will look like for my own kids. However, I do know that we are transitioning to a technology-driven economy at a rapid pace. Equitable and expeditious access to agile digital skills training is imperative for us to ensure shared prosperity for the residents of this province, while we establish ourselves in the global economy of the future.

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Jacquie Griffiths is the executive vice-president of Invest Vancouver, a regional economic prosperity service of Metro Vancouver with the objective of attracting strategic investment and laying the foundation for a region where every resident can thrive economically in a fast-changing economy.

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Jacquie Griffiths: Opening skills training gate to will lead to path of prosperity for B.C. - The Province

As the world moves towards an increasingly digital future, expanded connectivity infrastructure has become a defining feature of a modern economy.

By Steve Briggs, chief sales and marketing officer at Seacom

It allows people and businesses across the globe to connect with and access a world of digital innovation. Whether its for social media and entertainment, or improved business performance through digital processes, connected technologies are now part of nearly every aspect of our daily lives.

Connectivity is vital for the growth and future success of every global economy, the economic benefits of which have been widely researched in many countries.

Only recently, however, has a thorough study been conducted on the economic impact of connectivity delivered by submarine fibre optic cables in South Africa.

The study, which was conducted by RTI International, finds the overall economic impact of connectivity to be significant, leading to increases in GDP and improvements to the likelihood of being employed.

But these economic gains were not broad-based because many South Africans still do not have access to or cannot afford fast and reliable Internet services. So, why are subsea cables so important to our economy, and what can we do to get more South Africans connected?

Transitioning to a digital-first economy

Over the last few decades, South Africa has transformed from a resource-based economy relying on rich mineral reserves, to an economy driven largely by tertiary sectors such as financial and business services, transport and communication, and manufacturing. Unlike more labour-intensive and low-skilled sectors, these sectors all rely heavily on ICT infrastructure that requires connectivity.

The study by RTI International demonstrates this, finding that subsea cable connectivity led to a 6,1% increase in GDP per capita between 2009 and 2014. This can be attributed to factors such as technological innovation, access to international markets, and improved education for people living in connected areas.

Connectivity also has a role to play in addressing unemployment, which remains one of South Africas most pressing socioeconomic challenges. In the aftermath of the pandemic, unemployment rose to a record high of 34,9% by the third quarter of 2021. The RTI International study finds that people were 2,2% more likely to be employed if they lived within 500 metres of the fibre network.

The study also highlights that connecting South Africas most densely populated areas would translate to the greatest increases in total employment.

Connecting Africa with the world

Subsea fibre optic cables are the backbone of the Internet. But before Africa had a subsea cable system, the entire continent relied on sporadic satellite connections that made Internet access largely inaccessible and expensive.

At the same time, South Africas telecommunications market suffered because it did not have a competitive structure, which changed in 2008 when a court ruling allowed other industry players to build infrastructure and provide Internet services.

One year later, Africa saw its first commercial undersea cable. The Seacom cable spans 17 000km and connects the eastern and southern coasts of Africa with the rest of the world with faster and more affordable fibre connectivity. The RTI International study credits this subsea cable for disrupting the market, resulting in a substantial decrease in wholesale prices for direct fibre and an increased uptake of broadband connectivity.

Since then, South Africas fibre-to-the-home connectivity has expanded significantly, connecting over 600 000 homes in a market that was growing more than 30% per year in 2019. Now, 90% of South Africas population also lives within 10km of a fibre line because of our extensive domestic network in most major cities and towns.

But, even though widespread fibre penetration is eminently achievable, only 1,2% of households in rural areas had access to Internet at home in 2019, compared to 15,4% of households in metropolitan areas.

And, despite the fact that mobile broadband coverage reaches over 95% of the population, more than 30% of South Africans still do not use the Internet.

One reason for this is the prohibitive cost of mobile data, and the lack of incentives for last-mile infrastructure development beyond the existing fibre network. While fibre connections require a higher initial investment, fibre ultimately pays its dividends by being orders of magnitude cheaper than prepaid mobile data and providing a much faster and more reliable connection.

Looking forward

Digital technologies are evolving rapidly, which is why we need a modern approach to policy and regulation to keep up with other digitally driven economies. Our policy and regulatory environment in the telecommunications sector has been characterised as sluggish and uncoordinated, such as the failed attempt to deliver universal broadband access through SA Connect.

But there are many reasons to be optimistic. Our government has recognised the importance of the Fourth Industrial Revolution (4IR) for the future of our economy, and at a BRICS meeting on 11 November 2021, our Minister of Communications announced a fast-track programme that aims to connect all South Africans to the Internet within 24 months.

Additionally, government agencies will be funding the development of affordable Internet access for low-income neighbourhoods. Other initiatives like Project Isizwe are also helping provide local communities with uncapped Wi-Fi for as little as R5.

Theres no doubt that South Africa needs more partnerships between government, NGOs, and the private sector to help narrow the digital divide. By allowing more people and businesses to participate in the digital economy with affordable connectivity, we can create more jobs, accelerate economic recovery, and pave the way forward to a more connected future.

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The economic impact of connectivity in SA - IT-Online

Coal yard.

Korba district in Chhattisgarh has 13 operational mines. Four more mines are in the pipeline. Of the operational ones, as many as 10 are loss-making, and just three are profitableGevra, Kusmunda and Dipkaproducing 95% of the coal.

It is a quintessential example of an economy that will need to immediately think of what to do when India starts to 'phase down' coal as promised at the annual global climate change conference (COP26) last year.

Coal, part of the fossil fuel basket, is the largest contributor towards emissions and hence planned to be phased down as part of climate action to restrict emissions so that the global temperature rise is restricted to 1.5-degree Celsius.

The latest study has found that Korba's coal-centric economy has stymied the growth of other economic sectors, including agriculture, forestry, manufacturing, and services even as the poor socio-economic status and high dependence on the coal economy make it highly vulnerable to the unplanned closure of mines and industries, leading to severe socio-economic consequences.

Keeping in mind that India's biggest coal and power districts will face energy transition challenges much earlier than anticipatedit is predicted that Korba will reach its peak in 2025the economic restructuring and development intervention will be essential, the latest study by International Forum for Environment Sustainability and Technology (iFOREST) has pointed out.

'Korba: Planning a Just Transition for India's Biggest Coal and Power District' was launched earlier this week.

"Our study of Korba in Chhattisgarh essentially shows just transition in India is about re-development of the coal regions. Major policy and legal reforms in land, labour, and finance will be required to enable a smooth just transition. We need to develop a strategic roadmap for this and secure necessary finances to support it, both domestically and through international cooperation," Chandra Bhushan of iForest said.

Very clear why Bhushan says so. As mentioned in the report, with declining coal production, for the mining companies (here, South-Eastern Coalfields Limited (SECL)) shutting down all eight unprofitable mines in Korba district in the next few years is a win-win situation as the resources saved can be diverted to start a just transition in Korba.

Despite having coal mines and multiple power plants and other industries such as Balco Plant, the district is a Schedule V district with over 40 per cent tribal population and declared 'Aspirational District' with 41 per cent people living below the poverty line and over 32 per cent of the district's population being 'multidimensionally poor' with limited access to healthcare, education, and basic amenities.

The numbers are alarming considering the fact that Korba produces over 16 per cent of India's coal and is also an electricity hub, with 6,428 MW of thermal power capacity. Clearly, the coal-based economy did not do justice to the poorest of the poor and that makes the task of transition harder in view of the human resources.

The study points out that Korba has an aging formal workforceat least 70 per cent of SECL and National Thermal Power Corporation (NTPC) workers are 40-60 years of age.

"Their retirement can be synchronized with plant and mine closure, making the transition of the formal workers less of a challenge. The biggest challenge is the re-employment of informal workers, who constitute over 60 per cent of the workforce in the coal industry. They will require job support and reskilling. Skilling for the new green economy is another challenge," the report mentions.

Speaking at the launch of the study report, Secretary, Coal Ministry, Anil Kumar Jain, had said, "A place-based approach is an answer to ensuring a just transition as districts have different issues. A strategic approach will be needed as there is a big human aspect involved in the energy transition."

He also suggested re-purposing mining land can be a key opportunity.

The CEO of NITI Aayog, Amitabh Kant, welcomed the idea of the report and said, this can become the template in terms of impact on jobs and livelihood, revenue and other social sector investments the energy shift will have consequences for coal-dependent districts and states' just transitional result as a concept around the world to ensure that cold dependent towns of regions do not suffer."

"I entirely agree that a strategic plan needs to be developed in the sector to prevent closures of mine and socio-economic disruptions and the policy should include components of cold phase-out strategy at the national state level coal-based power phase-out plan," he said.

"Just transition is not just about climate change action; it is an opportunity to reverse the resource curse in the coal districts. The next 10 to 20 years will be crucial for Korba to plan and implement a just transition. We need to have the right policies and governance mechanisms to ensure that this opportunity to build a new inclusive economy is realized," said Srestha Banerjee, Director, Just Transition, iFOREST.

**

The above article has been published from a wire agency with minimal modifications to the headline and text.

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Biggest Coal and Power District: Chhattisgarh's Korba Highlights Major Energy Transition Challenges for India | The Weather Channel - Articles from...

Congress instructs the Federal Reserve to aim for maximum employment and price stability. The Fed has defined price stability as inflation averaging 2%, but maximum employment doesnt lend itself to such a simple measure. In its monetary policy strategy statement, the Federal Open Market Committee (FOMC), the Feds policy-setting body, says: The maximum level of employment is a broad-based and inclusive goal that is not directly measurable and changes over time owing largely to nonmonetary factors that affect the structure and dynamics of the labor market.[T]he Committees policy decisions must be informed by assessments of the shortfalls of employment from its maximum level, recognizing that such assessments are necessarily uncertain and subject to revision. The Committee considers a wide range of indicators in making these assessments.

What does that mean in practice?

Simply put, maximum employment sometimes called full employment is the highest level of employment the economy can sustain without generating unwelcome inflation. It describes an economy in which nearly everyone who wants to work has a job. The unemployment rate is one important way to gauge whether an economy is at maximum employment, but not the only one.

The headline unemployment rate (U-3) is defined by the Bureau of Labor Statistics (BLS) as the percentage of adults who do not have a job, have actively sought work in the last four weeks, and are currently able to work. The unemployment rate is a percentage of the labor force, the sum of the unemployed plus the employed.

This measure doesnt, however, account for all idle workers and isnt a sufficient measure of whats called slack in the labor market. It doesnt, for instance, count workers who have given up looking for work or those who work part-time because they cant find a full-time job. The BLS publishes several alternative measures. The U-6 measure, for instance, counts the unemployed plus discouraged workers (those whod like to work but have given up looking because they believe there are no jobs available for them), those who are marginally attached to the labor force (those whod like to work but have stopped looking for work for any other reason), and those working part-time whod prefer full-time jobs.

Primarily because for much of the past decade, the unemployment rate fell and inflation didnt rise. Although the unemployment rate is a very informative aggregate indicator, it provides only one narrow measure of where the labor market is relative to maximum employment, Fed Governor Lael Brainard has said. For nearly four decades, monetary policy was guided by a strong presumption that accommodation should be reduced preemptively when the unemployment rate nears its normal rate in anticipation that high inflation would otherwise soon follow. But changes in economic relationships over the past decade have led trend inflation to run persistently somewhat below target and inflation to be relatively insensitive to resource utilization.

In a subtle but significant change to its monetary policy strategy statement, the Fed said in August 2020 that it would respond to shortfalls of employment from its maximum level rather than the previous deviations from its maximum level. This indicated that the Fed would no longer preemptively tighten monetary policy only because unemployment was approaching or even falling below estimates of the unemployment rate that economist models suggest are consistent with stable inflation. This change signals that high employment, in the absence of unwanted increases in inflation or other risks that could impede the attainment of the Committees goals, will not by itself be a cause for policy concern, the Fed said.

The Fed defines the maximum level of employment as a broad-based and inclusive goal. When Fed Chair Jerome Powell announced the addition of that phrase to the Feds strategy statement, he said it reflects our appreciation for the benefits of a strong job market, particularly for many in low- and moderate-income communities. This reflects calls for the Fed to keep interest rates lower as a way to boost employment in communities, including communities of color, where people are more likely to be unemployed. It also argues for looking beyond the overall unemployment rate to decide whether the economy is at maximum employment. What this means is practice for Fed policy remains to be seen. Some observers have argued that the Fed should keep interest rates low until the Black unemployment rate falls. But Powell has said, The point of the broad and inclusive goal was not to target a particular unemployment rate for any particular group And one of the things we look at is unemployment rates and participation rates and wages for different demographic and age groups and that kind of thing.

Among the other measures of the labor market that the Fed and others track are the following.

The Labor Force Participation (LFP) rate is the number of employed people plus the officially unemployed divided by the civilian non-institutionalized population older than 16.

In recent years, the LFP rate has been declining as the Baby Boomer generation ages and retires. To look beyond that demographic change, economists often focus on the LFP for people between the ages of 25 and 54, so-called prime age because people in this age group are more likely to be available to work. When the prime age LFP rate falls, it means there are more workers on the sidelines of the economy who arent counted as unemployed but who may be drawn into the labor force.

In economic downturns, LFP often declines as people stop looking for work. During the pandemic, the LFP rate fell sharply as many parents (particularly mothers) left the labor force due to childcare facility closures and schools shifting to distance learning, and others dropped out for fear of COVID or other reasons, and still others took early retirement. The Fed and other economists have been surprised that the LFP didnt rebound more quickly when vaccines became available and lockdowns ended.

The failure of the LFP rate to return quickly to pre-pandemic levels led the Fed in late 2021 and early 2022 to judge that the economy was closer to maximum employment than it had anticipated. Powell noted that Fed officials hope the level of maximum employment consistent with stable prices may increase as [labor force] participation gradually rises.

The employment to population ratio is the employed as a percentage of the civilian noninstitutionalized population. It reflects those people who are counted as unemployed and those who are not working for some other reasonthose who are retired as well as those who have given up looking for work.

Using a sample of 16,000 employers, the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS) measures the number of people who have left their jobs.

The quits rate counts workers who voluntarily left their job as a percent of total employment. The layoffs and discharges rate includes all involuntary separations initiated by the employer. Retirements, transfers, deaths, and disability-related separations are counted in the other separations rate.

Workers are more likely to quit when they feel confident they can obtain another job, so a rising quit rate is a sign of a very strong job market.

JOLTS also counts the number of positions for which employers are actively recruiting and would start within 30 days of hire. The number of unfilled jobs is a measure of the unmet demand for labor. The ratio of the number of unemployed per job opening is a way to gauge the strength of the job market; the lower this ratio, the closer the economy is to maximum employment.

Named for William Beveridge, a 20th-century British labor economist and politician (though he apparently never drew it), the Beveridge Curve charts the number of job postings (as a percentage of all filled and unfilled jobs) against unemployment rate. The Bureau of Labor Statistics updates the chart monthly here. The line generally slopes downward because a higher rate of unemployment usually coincides with a lower rate of vacancies, since there are more people looking for jobs.

Outward shifts in the curve (that is, up and to the right) show a given level of job postings is associated with higher rates of unemployment. They are seen as indicators of unwelcome change in the labor marketan increase in mismatches between the skills of workers and the demands of employers, for instance, or a reluctance of jobless workers to take available jobs. The Beveridge Curve did shift outward following the Great Recession. It shifted further outward during and after the COVID-19 pandemic; in other words, employers found it harder to hire at given rates of unemployment than they had in the recent past. When the unemployment rate fell to 4.2% in November 2021, the job openings rate was 6.6%. In September 2017, when the unemployment rate also hit 4.2%, the job openings rate was 4.1%.

The NAIRU (Non-Accelerating Inflation Rate of Unemployment) is an estimate of the lowest the unemployment rate can go without leading to rising inflation. The logic is that when there arent very many unemployed workers, employers raise wages and that leads to rising prices. The NAIRU is difficult to estimate precisely and can change over time as, among other factors, demographics, union strength, and the pace of productivity change.

At his January 2022 press conference, amid growing concern about rising inflation, Powell said that most FOMC participants agree that labor market conditions are consistent with maximum employment, which he defined as the highest level of employment that is consistent with price stability. The issue, Powell added, is whether we can raise [interest] rates and move to a less accommodative [monetary policy] without hurting the labor market.

The Brookings Institution is financed through the support of a diverse array of foundations, corporations, governments, individuals, as well as an endowment. A list of donors can be found in our annual reports published online here. The findings, interpretations, and conclusions in this report are solely those of its author(s) and are not influenced by any donation.

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How does the Fed define maximum employment? - Brookings Institution

The books main aim, French explains early on, is to restore those key chapters which articulate Africas significance to our common narrative of modernity to their proper place of prominence.

French intricately traces, from the early 15th century through the Second World War, the encounters between African and European civilisations. These, he argues, were motivated by Europes desire to trade with West Africas rich, Black civilisations. These included the Ghanaian and Malian empires. The ancient West African region was perceived as an abundant source of both gold and slaves. French argues that it is the intertwined background of gold and slavery which would eventually birth the transatlantic slave trade of the early 16th century.

A 600-year journey

Born in Blackness sprawls approximately 600 years. It traverses geographies from the edge of Europe, across Africa and the Americas. It follows the long history of the age of European discovery beginning with Portugals early ventures into Africa and Asia in the late 1400s and early 1500s, through the Atlantic slave trades modest start in Barbados in the 1630s to the Haitian Revolution.

Then it moves to Londons abolishment of the transatlantic trafficking of humans in 1807 and the introduction of the mechanical cotton picker. This invention could do the work of fifty sharecropping Blacks, a fact not lost on the white planters of the (Mississippi Delta). Frenchs historical tracing of the crafting of the modern world through the oppression and subjugation of Black persons continues on through the Second World War and beyond.

Citing Simeon Booker, a noteworthy African-American journalist whose work concerned the American civil rights movement and the murder of Emmett Till, an African-American teenager accused of offending a white woman, French notes that in the early 1960s, Mississipi could easily rank with South Africa, Angola or Nazi Germany for brutality and hatred.

His careful weaving together of how gold and slavery became intertwined over centuries and continents makes one thing abundantly clear. Without the trade of persons belonging to African civilisations across the globe, but particularly the Atlantic, the modern world would not have been made.

A reckoning with slavery

As the author explains, the boom of the cotton, sugar and tobacco industries of the colonial US simply would not have happened without the trade of slaves from Africa. Without this capitalist jolt as French puts it, what we know now as the United States of America would have remained relatively obscure. It would not likely have become the superpower state it is today.

In this way Born in Blackness challenges emphatically the deliberate forgetting of European contests over control of African resources. This process of erasure, French explains, began with Europes Age of Discovery (1400s-1600s). The improperly explained rationale for this era was that European civilisations wanted to form trading ties with Asia. To do so, they reached across continents, including Africa, for territory and, later, subjects.

But French insists that the real rationale was Europes earnest desire to establish economic ties with Africa, and in particular West Africa with its resource-rich civilisations and resource-based economies.

The intervention of Born in Blackness, then, is to insist on reckoning with the role played by the brutal bond between Europe and Africa. This was forged through slavery. It is what drove the birth of a truly global capitalist economy; it hastened the processes of industrialisation and revolutionised the worlds diets by facilitating the globalisation of the consumption of sugar.

It is also important to mark, as French does, that the centrality of enslaved Africans labour extends beyond the mining of plantation crops to the very creation of the plantations themselves. It was the slaves who prepared the land for planting: they removed plants and rocks, but most importantly displaced indigenous peoples from their territories.

A world born in Blackness

In marking this, Born in Blackness demonstrates how the displacement to which African persons taken as slaves is mirrored in the making of modern-day America and echoed in the displacement of first nations or indigenous Americans.

What is at stake in the intervention of the book is precisely what is gestured toward by its title: that modernity and the modern world was indeed born in Blackness. The civilisational transformations the author traces economic, spatial and most importantly cultural in their texture are a product of Blackness. DM/ML

This story was first published in The Conversation.

Lauren van der Rede is a lecturer at Stellenbosch University.

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