Category Archives: Resource Based Economy

The Government has approved a decision to develop the Grand Canal Innovation District - a national initiative, spearheaded by Trinity College Dublin in collaboration with other universities.

The 1 billion plan will be a hub for innovation,world class university research facilities and a start up ecosystem, with a university campus acting as a connector.

The university owns a site adjacent to Grand Canal Quay, and it plans to build a campus close to tech firms such as Google, LinkedIn, and Facebook which are already located there.

The project was first launched by Taoiseach Leo Varadkar in July, 2018.

Dr Diarmuid O'Brien, Trinity's Chief Innovation and Enterprise Officer, said, "The government has commissioned a group called Grand Canal District Advisory Group, and that group has recommended that their government commits 150 million towards the development of this campus."

"We will be working now very closely with the government over the next couple of months, to identify where that funding will come from and how that will enable the plans," he said.

Similar hubs haveworked in other citiessuch as Paris andLondon.

"There is about 80 other different innovative districts growing up around the world at the moment," he said.

In a statement, the Government said any decision regarding Exchequer funding for the project will be taken in compliance with the Public Spending Code.

The Provost of Trinity, Patrick Prendergast, said statefunding will becrucial to unlocking support from the private sector.

Business group, Ibec has also welcomed the approval of the plan. "The economic and population growth currently underway on the island of Ireland makes planning for the future now even more important. The scale of our growth is an enabling factor that will allow the island to compete for international business at a new level," said Danny McCoy, Ibec CEO.

"The economies that invest properly in their future will drive economic prosperity and job creation. Our ability, as a small open economy, to continue to attract investment and grow its own successful global businesses is more than ever linked to the amount of research that originates here.

Dublin Chamber said the creation of the proposed new Grand Canal Innovation District would be a real statement of intent regarding Ireland's desire to be a world leader in R&D and entrepreneurship.

The St Andrews Resource Centre says that the project has major implications for the area, which it says has already undergone dramatic changes over recent years.

The centresays international experience shows that innovation districts based on research campuses and high tech investors can crowd out, or drive out, local communities, especially traditional inner city communities. For that reason, the centresays it was welcome that the Government set the needs of the local community as part of the priority objectives of the advisory group, and that this is reflected in the report published today.The centre says education, employment and above all social and affordable housing are crucial if the traditional community is not only to benefit from the planned Innovation District, but even to survive.

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Plan approved for Grand Canal Innovation District - RTE.ie

Jan 03, 2020 (LBO) President Gotabaya Rajapaksa says that he will never allow other countries to take over Sri Lankas economically significant geographic regions or physical resources.

Addressing the Parliament at the ceremonial sitting, he reminded that the countrys unique position has resulted in considerable attention being given towards Sri Lanka in global geopolitics in recent times.

We follow a neutral foreign policy. We must strive to maintain friendly relations with every country. However, we can never give up our independence, he said.

We must establish honourable governance that will allow this country to maintain its sovereignty, security, national pride, and deal with all nations on equal terms, without demonstrating weakness in our diplomatic or trading relationships.

Rajapaksa said that in order to safeguard the security, sovereignty, stability, and integrity of the country, it is essential that changes be made to the existing constitution.

Whilst preserving the positive characteristics of the proportional representation system, electoral reforms are needed to ensure the stability of the Parliament and to ensure the direct representation of the people, he said.

Even though elections can be won through numbers, an unstable Parliament that cannot make clear decisions and remains constantly under the influence of extremism is not one that suits the country.

Full text of the speech:

Honourable Speaker, Honourable Prime Minister,

Honourable Leader of the Opposition,

Honourable Ministers, Honourable State Ministers,Honourable Members of Parliament,

I have this opportunity to address you as the Head of Stateof the Democratic Socialist Republic of Sri Lanka consequent to the historic victorygranted to me by the people of this countryon the 16th of November.

Iexpress my gratitude to all citizens, institutions and all politicalparties who were committed to a peaceful, free and fair election.

Irrespective of the politicalparty you, the Honourable members in this august Assembly belong to,together all of us have as our prime responsibility to work for the bettermentof the people of this country.

I have served this nation as an ArmyOfficer for twenty years,

and as Secretary of Defence for nearly another ten years.

Even though I was not activelyengaged in politics, I have experienced what service to the people is, from anearly age.

My fathers elder brother, D. M.Rajapaksa, began his politicaljourney in the State Councilin 1936, representing the Hambantotaelectorate. After his demise in 1945, the people of Hambantota elected my father, D. A. Rajapaksa, to the State Council. Later,he was elected throughthe popular vote as a Member of the countrys first Parliament.

Fromthattime until now, manymembersof the Rajapaksa family, hailing from the ruralvillage of Medamulana in Giruvapaththuwa,Ruhuna, have served as electedpublic representatives. There havenot only been Members of Parliament, DeputyMinisters, Cabinet Ministers,a Deputy Speaker of Parliament, a Speaker of Parliament, a Leader of theOpposition and a Prime Minister, but also two Presidents elected to office bythe people, who reposed their trust in us.

Fromthe first day the honourable D. M. Rajapaksa, known as the Lionof Ruhuna, appeared in the State Council, he wore a maroon coloured shawl.

Whathe symbolized throughthis maroon shawlwere the milletfarmers of Giruvapaththuwa.

Following D.M. Rajapaksa, my father D. A. Rajapaksa and each member of the Rajapaksa family who was elected to Parliament wore themaroon shawl.

Even though I do not wear this shawl,I stand for the same profound philosophy of constant dedication to the poorthat is symbolized by the maroon shawl.

It is this same philosophy that isembodied in the Policy Statement I presented during my Presidential electioncampaign.

HonourableSpeaker, I now take this opportunity to table the Visions

of Prosperityand Splendour Policy Statement.

The people ofthis country gave me a clear mandate at the Presidential election held on 16th November 2019. That mandate wasgranted because of the trust the people had in me. I, together with myGovernment, stand committed to honour the trust of the people and implement theprogramme of developing a prosperous nation that we promised to them.

The peoplewho elected me to office desired a profound change in the political culture ofthis country. They rejected political agendas founded on race. The majorityof the people proved that it is no longerpossible for anyone tomanipulate and control the politics of this country by playing the role of king maker.

I invite the politicians concerned tounderstand this reality. I call uponall to join together in the national undertaking to develop this country, andto reject the politics based on petty agendas that have sown division in oursociety in the past.

We must always respectthe aspirations of the majorityof the people. It is onlythen that the sovereignty of the people will be safeguarded.

In accordance with our Constitution,I pledge that during my term of office, I will always defend the unitary statusof our country, and protect and nurture theBuddha Sasana whilstsafeguarding the rightof all citizens to practice a religion of their choice.

I remember my father being at thisParliament, during my childhood. I often used to watch Parliamentaryproceedings from the public gallery.The Parliament we had then was exemplary. The discourse that took place in itwas of great importance. The debates were replete with logic and richarguments. School children and adults were eager to come to Parliament tolisten to those debates. Members of Parliament always behaved in a way that upheld the dignityof the Parliament and the officethey held. The people then had great respect for the Parliament. They respectedpeoples representatives. Unfortunately, latterly, that respect gradually waned.

This Parliament should once againbecome an exemplary institution where the real issues of the peopleare discussed, wherematters concerned with nationalpolicy are subjected to debate, and where the responsibilitiesof the legislature are duly fulfilled. The responsibility of ensuring that theParliament once again becomes an institution winning the respect of the peoplelies with the Members who are in this House.

There is a social, economic andpolitical crisis in the country today. Even after 70 years of Independence, we cannot be satisfied with thecountrys development. We all have a responsibility to change this situation.We must be prepared to make the sacrifices required for this.

The primary responsibility of apeoples representative is service to the people. We should all remember thatthe offices we hold are not privileges, but responsibilities.

To develop the country, the right vision and plans areneeded. The Policy statement, Vistas of Prosperity and Splendour, placedbefore the people at thePresidential Election by me contains a national programme that was craftedduring a period of nearly four years by incorporating my vision with the ideasand recommendations of national organisations such as Viyathmaga, the findingsof the Conversation with the Villageprogramme conducted by the Sri Lanka Podujana Peramuna, the discussions heldwith other political parties, and the ideas contributed by the general public.

In accordancewith that programme, we have already taken several steps including the easingof taxes that were unduly burdening the public, introducing a high degree oftransparency and efficiency to the government administration, and curtailingunnecessary government expenditure.

In ourpolicy, National Security occupies the foremost place.

We havealready taken steps to strengthen the national security apparatus. Talentedofficers have been given appropriate responsibilities again. We have takensteps to ensure proper coordination between the Armed Forces and the Police,who are collectively responsible for maintaining national security. The networkof national intelligence agencies has been reorganized and strengthened.

We will take all necessary stepsto make our motherland a safe country free of terrorism, extremism,underworld activities, theft and robbery, extortionists, the drug menace,disruptors of public order, and the abuse of women and children.

Our primarypurpose is to create a productive citizen, a happy family, a disciplinedsociety and a prosperous nation.

The Government must take the initiative to make every healthy citizen of employable age a useful andproductive citizen. What we need is for all of them to contribute to thenations economy.

We must ensure that the benefits of development reach everygroup of people. We must employmodern methodologies and indicators to gauge whether the needs of the peopleare truly being met, and whether they are happy.It is no longer necessary to wait for elections to find out how peoplefeel about the work programme of the Government.

We need everyones support for ourefforts to reduce the cost of livingof the people. The corporate sector must ensure that some percentage of thebenefits of the tax concessions recently provided to them are passed onto the public as well. Accordingly, we expect a reduction in the priceof all goods and services on which taxes have been reduced.

Eliminating povertyis a priority of ourGovernment. We must understand the causes of povertyand find solutionsto eliminate such causes. We willbe able to alleviate povertyby finding practical approaches to issuessuch as the lack of proper education or skills, the lack of land forcultivation, or the lack of capital for self-employment.

We have made plans to find employmentopportunities for 100,000 young men and women from low incomefamilies within the next month. My government is prepared topresent practical solutions to resolve unemployment, with the public sector andthe private sector working together.

One of ourmain themes during the last election was the development of a virtuous, lawabiding and disciplined society. The public has given us a mandate for thispurpose.

Ours is acountry with an ancient history, and a society nurtured by Buddhist teachingsand the teachings of other world faiths. We must always safeguard our cultureand our values.

Our target isto make Sri Lankaa developed country. It must be a sovereign, independent nation. Also, it mustbe a safe, and a peaceful country. Sri Lanka will be a prosperous nation only when all of these are achieved.

We have introduceda people-centric economicpolicy through the

Vistas ofProsperity and Splendour manifesto.

Its main aimsare to ensure economic stability for all citizens, provide equal opportunitiesto all who seek to improve themselves, to establish a clean and efficient state sector that is committedto public service,and to protect and empowerlocal entrepreneurs.

In order tosuccessfully establish a people-centric economy it is important that everyofficial from the highest to the lowest level of government becomes aware ofour vision and aims. That will enable them to perform their duties moreproductively.

We must also implement a special programme to combatcorruption and fraud. Legal action must be taken promptly againstall who engagein corrupt practices, irrespective of their status.

Today, most countries have employed technology as a means ofenhancing the efficiency of the state sector. Through this, it will also be possible to provide equal opportunitiesfor all. As such, we will pay special attention to increasing the use oftechnology in government institutions.

We must plan for the future, based on the geographiclocation, natural resources and human resources of our country.

Sri Lanka has been an international trading hub for merchants fromGreece, Rome,Arabia, China and various other nations forthousands of years. One of the main reasons for Sri Lankas renowned standing wasour countrys unique location in the ocean connecting the east and west. We canbenefit from this advantage in the same way today.

During theperiod from 2005 to 2014, the government of President Mahinda Rajapaksa plannedto develop Sri Lanka intothe commercial hub of South Asia.

The Mattala Airportwas built adjacent to the Hambantota Port with

the aim ofestablishing an industrial city in the south.

Thedecision to developthe Colombo Port City was taken with the aim of making Sri Lanka a hub for finance and commerce in Asia.We must carry forward these projectsthat were designed according to achieve long term objectives.

If we workaccording to a proper plan, we will be able to encourage internationalbusinesses to locate themselves in Sri Lanka and supply goods andservices to regional neigbouring countries. Toencourage such investors, wemust be prepared to swiftly provide all the facilities they require within Sri Lanka.

For economicdevelopment to occur, it is important that we accelerate improvements to theroad network, including the expressways, so that travel from any one part of the countryto another in a few hours becomes possible. The development of thetrain service is an integral part of this programme. We can also help alleviate the grave problem of heavy roadcongestion through an efficient and comfortable train service.

Urbanisationbrings both good and bad results to a country.We need a restructuring programme to ensure that the benefitsof development reach every region of the country. Thiswill help us reduce congestion, pollution and the cost of living.People dispersed throughout Sri Lanka should have access to facilities foreducation and healthcare, and opportunities for employment, within theirown area. The development of the roads and rail network together with theprovision of high-speed internet and telecommunication facilitiesthroughout the country is essential for this.

Thecost of electricity is an important factor in economicdevelopment. It particularly affects the attracting of investors to theindustry sector. We needshort-term and long-term solutions to generate power at a reasonable price. Inlooking at long term solutions, our principle is to pay special attention to the use of eco-friendly renewable energy sources such as solar, wind and hydro-power.

Although our country is rich in gemand mineral resources, relevant value-added industries have not yet developed to international standards. Each year, the countryis deprived of significant foreignexchange earnings

through the export of these natural resources withoutvalue addition. We should establish a world class marketplace in which gemsfrom not only Sri Lankabut even from African nations can be sold after value addition.

While we should provide newtechnological facilities for conducting oceanic and geological surveys, we mustprovide special incentives to encourage investments in industries that willprovide value addition to Sri Lankas mineral resources.

We will not allow various laws,permits and restrictions to impose unnecessary and unfair limitations on someof Sri Lankastraditional livelihoods, including the gem industry, tile industry, brickindustry, carpentry and handicrafts.

When planning for the future, moreattention than at present must be given to the agriculture, plantation and fisheries sectors.As a country that possessesa large oceanic economic zone in temperate waters, we can develop theseindustries much further.

We need to increase earnings fromagricultural produce such as spices,

fruits, vegetables, grains, meat and fish,for which thereis export potential.

One third ofthe countrys population is engaged in agriculture, plantation industries and the fisheriessector. We must raise their standard of living.

There is a need for new technology-based approaches that can develop these industries beyondtraditional farming methods.

Encouraging the production of foodfree of pesticides and chemicals, by increasing the use of organic fertilizerfor agriculture is part of our policy. We must prepare plans to encourageSri Lankas entire agriculturesector to shift to using only organic fertilizer within the next decade.Increasing domestic production of organic fertilizer should be included inthese plans.

Theproblems that had been causedto growers of export-oriented crops through the allowing of unlimited re-exportswere addressed by the new Government soon after its assumption of office. Instructions have already

been issued to completely stop the re-export ofagricultural products.

Moreattention has to be paid to the ocean economy.We will introduce asystematic programme to improve the fisheries sector through the introductionof new technologies and equipment. Existing harbours will be improved and newharbours developed to cater to the requirements of multi day vessels that engage in deep water fishing.

Introducing new technologies to furtherdevelop the inland fisheries sector is also part of our plan. Protecting thenatural environment for our futuregenerations is one of our fundamental responsibilities. We will pay special attention to environmental protection in theformulation and implementation of governmentpolicies.

We hope to make Sri Lanka oneof the worlds leading nations in achieving the United Nations SustainableDevelopment Goals.

Our most valuable resource as anation is our future generation. As such, we have identified the development ofour human capital as one of theprimary responsibilities of the government.

We have to pay special attention toensuring that our future generationwill become productive citizens by nurturing them with the required knowledge,skills and abilities. The opportunities young people have to pursue highereducation and technical education should be broadened. The infrastructurefacilities needed for this must be developed within a short time frame. Thenumber of students entering tertiary educationcan be increased through more effective utilization of the capacities ofstate universities and other higher educational institutions.

Some of the coursestaught in universities today are not in consonance with market requirements. Inthe near future, we intend to introduce short-term courses to equip ouruniversity students to meet the needsof the modern job market, which they can opt to attend whilst pursuingtheir current courses of study. Universities and other higher educationinstitutions should be given more freedom in the enrollment of students and in the restructuring of their syllabito meet theneeds of themarketplace.

Institutions in the country that currentlyteach diploma levelprogrammes must be gradually enhanced to the level of degree awardinginstitutions. As a preliminary step, we look forward to upgrading teachertraining schools and nursing schools to degree awarding level. The shortage oftrained graduate teachers continues to be a problem in the education sector. Further, by upgrading the existing3-year diploma programme in Nursing into a 4-year degree, and by improving theEnglish knowledge of nurses, we will createopportunities for them to even seek work abroadby providing services that meet international quality standards.

Colleges which provide technical andindustrial training need to be strengthenedto cater to more students who have studiedup to the Ordinary Levelexaminations but not progressed beyond the Advanced Level examinations. Thefunding and facilities provided to these institutions need to be increased.This will not only enable us to create a workforce that has received vocationaltraining in line with global standards, but also enable such trained personnelto seek high wage employment in the fast-evolving marketplace both here and abroad.

Manyyoung people arecurrently deprived of employment opportunities due to their lack ofproficiency in English. We willintroduce a special programme to improvethe facilities providedfor English educationin all schools, and torecruit the required teaching staff.

We intend to entrust our foreignMissions with special responsibilities to seek new employment opportunities for our youth.We can enhance Sri Lankas image in the global job market and earn more foreign incomeby sending trained and qualified workersin all fields to work abroad, instead of untrained workers.

The educationsector can be a significant foreign exchange earner. A large number of Sri Lankan studentspresently study at higher educational institutes in Asia. Instead of sending our students abroad for highereducation at a high cost, we should introduce a programme to attract foreignstudents to Sri Lanka.We must prepare short term and longterm programmes to improve the global ranking of our universities.

Sri Lanka is still referred to as a developing country even after70 years of our achieving independence. We mustidentify the opportunities that would allow us to move away from this situationand to become a developed country.

With a population of over 5 billion,Asia is undergoing an economic boom and the centerof gravity of the globaleconomy is movingtowards it.

The fastestgrowing middle class with high purchasing power is in thisregion.

That is why we must encourage ourlocal entrepreneurs to seek new markets in Asia.

The 21st Century is known as theKnowledge-centric Century.

New technologies such as ArtificialIntelligence, biotechnology, robotics, 3D printing, and the Internet of Things,amongst others, are continually changing the world.

Mostdeveloping nations have grasped this reality. They are spending substantiallyto attract technology centric investments.

We must payattention to this in the formulation of our investment policies. We mustunderstand what type of investments we need to spur future economicdevelopment. We must provide special incentives and concessions to encourageinvestors who are capable of introducing new technologies to the country.

It is also very important to directour youth to learn these new technologies and undertake research relevant tothem. We must assist our educationsystem to speedilyprepare to facilitate this change without delay.We must also take steps topromote English education as well as Information Technology usage amongst our youth.

Itis important to understand that we have market opportunities beyond technology heavy sectors. One sector we can very swiftly developis

the tourism industry. This sector, which earned 4.4 billion USDollars in 2018, has space to grow toone that can earn revenue in excess of10 billion US dollars within the next few years. We will introduce a systematic programme to achieve this.

For us toreap the fullbenefits of democracy,the government

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We never allow others to take over our economically significant resources: President - Lanka Business Online

With global economic growth vulnerable to a Donald Trump tweet stoking trade hostility and losses to the property market earlier in the year, one could forgive the cautious among us opting to hide gold bullion under the bed.

And in the billion-dollar field of investing for high-growth return, this answer isnt too far from the truth.

RELATED: How to get started on the Australian share market

Over the last 10 years, gold miner Northern Star (NST) has been a standout performer on the Australian securities exchange.

Shares in the resource company were worth just 3 cents at the end of November in 2009 but surged nearly 33,000 per cent to early December 2019, according to data collected by Bell Direct.

An investment of just $500 at the start of this period would have provided a whopping return of nearly $164,000.

Theyve seen some monumental gains, Bell Direct market analyst Jess Amir told news.com.au.

The gold miner has a market cap of more than $8 billion after acquiring several operations in Western Australia and North America.

In December it bought into the Kalgoorlie Super Pit, the largest open gold mine in Australia, while its executive chairman told investors in October the company was pushing ahead with its Pogo operation in Alaska.

Theyve also had a record year for growth and theyve been growing their earnings, Ms Amir said.

Northern Stars growth was more than double that of the next best, but the top six performing companies also pocketed significant returns.

Behind the gold miner was the electronic circuit board producer Altium (ALU), which jumped more than 15,000 per cent from 24 cents to more than $37.

A $500 investment would now be worth more than $76,700.

A key member of Australias group of high-performing tech companies dubbed WAAAX Wisetech, Altium, Appen, Afterpay and Xero it has deals with some of the worlds largest companies and institutions including Microsoft and NASA.

And while many of the decades stocks to record high growth have likely hit their ceilings, Ms Amir says Altiums recent push into China may continue to prove profitable for investors.

This one has shot the lights out the most of the WAAAX companies, she said. Its a standout over 10 years.

Investment firm Magellans (MFG) share price leapt from more than 74 cents to nearly $53 over the decade, a jump of more than 7000 per cent.

In the investment world, theyre going against the grain and theyre seeing lots of growth of funds under management, Ms Amir told news.com.au.

The firm continued to grow right through to December after it reported a boost to its net inflows, and its total funds under management rocketed to nearly $98 billion.

Tech company Appen (APX) and lottery gamer Jumbo Interactive (JIN) climbed nearly 4800 and more than 4200 per cent respectively over the 10 years, but Polynovo (PNV) is a particularly interesting company.

Its another that surged from just 3 cents, but the medical device company only launched on the ASX in 2015 and has gained nearly 6000 per cent since.

An investors original outlay of $500 would now be worth more than $29,900 from the company that helps victims with horrific burns and general accident injuries.

If you invested in them youve not only made a handsome return but theyre also helping people, Ms Amir said.

WORST STOCKS OF THE DECADE

The six biggest losers in share price value over the 10 years is a dirty laundry list of underperforming companies joined by AMP.

The once institutional wealth manager has spiralled lower and lower after its fees-for-no-service scandal emerged during the financial royal commission in 2018.

AMP began the decade at more than $6 but lost 68 per cent to be less than $2 in December.

Ms Amir, however, focused on two of the underperforming companies as sources of potential future growth.

Lithium miner Galaxy Resources (GXY) suffered the heaviest losses to its share price over the decade, falling 77 per cent from more than $4 to just 93 cents based on the volatility of the chemical elements value.

The lithium price made headlines two years ago in 2017 when its stocks were the talk of the town and they were the market darlings, the Bell Direct market analyst said.

Theyve lost their shine this year because the lithium price took a hit, but we think this company should ride out the lithium market weakness.

The demand for the chemical element is expected to grow as environmentally conscious consumers increasingly turn to electric cars coupled with the ubiquitous reach of mobile phones that rely on batteries made from lithium.

The other stock to watch is Elders (ELD).

The agribusinesss share price lost 47 per cent to $6.47, but Ms Amir expects it to construct a massive turnaround in 2020.

Already in 2019, this has proved to be a resilient company because it reported profit that beat expectations despite the drought being the worst weve seen in 100 years, she said.

Elders will also gain from improving demand for crop protection such as fertilisers as well as profiting from the high demand for Australian cattle in China.

WHERE TO MAKE MONEY IN 2020

HEALTHCARE

The healthcare sector has already been an engine room for the ASX, particularly through market darlings CSL and Cochlear (COH).

Ms Amir says the countrys ageing population will only increase the potential value of the sector.

Regardless of whats going on in the economy, people will always have a healthcare need, she said.

A good option for novice investors is to consider the whole sector to help diversify their risks through an exchange traded fund.

INFRASTRUCTURE

The prevailing view among economists and financial commentators is the Reserve Bank will cut interest rates twice in 2020 but appears unwilling to go further.

This means the Federal Government will need to step in and contribute stimulus of its own, which will likely come in the form of boosting infrastructure spending.

Therefore, Ms Amir says investors should look at companies that focus on rail and road projects in the new year as well as utilities.

Infrastructure stocks and contracting companies in infrastructure are likely to do well, she said.

A key beneficiary of this looming fiscal policy will be toll road constructor and operator Transurban (TCL).

What will be the best stocks of the next decade? Get in touch | @James_P_Hall | james.hall1@news.com.au

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ASX: Best and worst stocks of the decade - NEWS.com.au

Home News GeneralIsaac and Associates law firm nets a 10-year landmark

Publishing Date : 16 December, 2019

Author : TLHABO KGOSIEMANG

A leading commercial law firm in the Central Administrative District Isaac and Associates celebrated its 10th year anniversary this past weekend in Kasane. The law practice was established by Jost Isaac in 2009 and since its opening, the firm has grown in leaps and bounds offering legal services to its customers, and efficiently doing so.

When speaking at the Anniversary celebrations in Kasane, Justice Mpaphi Phumaphi said the firm has been committed to bringing and developing the Kazungula region. Isaac has been involved in corporate community initiatives aimed at developing the Kasane region. He used his generosity to donate chairs to schools, photocopying machines and computers to be used by students. This is a noble gesture because as the country, we strive to move from a resource based economy to knowledge based one so these donations came at the right time

He further said Isaac understands a biblical expression that a blessing one gets while they still alive, are given and used wisely, adding that they should be shared with those in need such as less privileged, especially those in the Kasane region that is poverty- stricken. Indeed I am very proud to see Isaac back home here in Kasane. I therefore urge the community to support his business and I can promise that he will deliver a great service to them. He is coming to a different place now and he should have courage to remain still.

That can probably help you grow into a big firm and never leave your office without a professional who can lead the firm. I believe a professional will be able to solve issues in your absence. Learn to charge appropriately and make sure everything stays in place. Keep your two offices under constant surveillance to see where your weak points are

Justice Phumaphi indicated that Isaac has walked the path that is highly commendable and appreciated. Its a pity that he did not do his internship at my firm, because those who did I taught them money is not everything. One important thing in legal practice is that you should do your homework, be Honest to your clients and that will lead you into the right track. He however expressed disappointment to law firms operating unlawfully, saying they over charge clients, probably because clients can afford to pay so.

For his part, Attorney Isaac noted that his firm offers extensive coverage of Palapye and surrounding areas in terms of legal assistance. The firm deals mostly with the field of expertise in conveyance and notarial work, criminal law, civil litigation and commercial debt collection. We also offer services in contracts and agreements, labour disputes, land issues, divorces and maintenance, insurance and taxation, sectional title scheme management as well as wills and administration of estates he said

Held under the theme liberalisation of legal services the event also incorporated the opening of a satellite office in the Kazungula region. We live in a global world, and as we do so, we have major projects operating in the region that are operated by Korean companies and the reason why I came up with this theme was, you will find out that they will financing these projects, and most legal issues are out there were financers are. As local law firms, we will be just here and big contacts will jump in and sign these projects. These big companies can not only practice here, but they can have an influence over us.

Attorney Isaac said the firm was started from humble beginnings, adding that he identified a niche market, something that worked on his favour. This dream started while I was still at school. I genuinely believe my poor background motivated me to work extra hard, and it started with just a camera at school, snapping pictures and getting paid for it.

It was a great opportunity at the time and the project became a success. I successfully managed to buy two cars while at University Attorney Isaac holds a Bachelor of Laws Degree from the university of Botswana, Certificate of proficiency in Short Term Insurance from the Insurance Institute of South Africa and a Certificate in Sectional Title Scheme Management from the University of Cape Town.

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Isaac and Associates law firm nets a 10-year landmark - WeekendPost

By Mabell, Dave on December 14, 2019.

Dave Mabell

Lethbridge Herald

dmabell@lethbridgeherald.com

Now being described as the oilsands of sun and wind, southern Alberta is receiving a $1.5-billion boost from its fast-growing alternative energy industry.

Overseas investors continue to underwrite new Alberta projects, a just-released report confirms, due to strong demand around the world for energy from renewable resources.

International investment is moving into this industry right now, says Trevor Lewington, chief executive officer at Economic Development Lethbridge.

When Albertans are looking for good-news stories and economic wins, they can look right here, he says.

These projects also inject money into the economy, creating more wealth and opportunities for everyone in our region.

Commissioned by the Southern Alberta Alternative Energy Partnership, the new report reveals just how significant alternative energy investments have become for Albertas economy.

Renewable Randolph Consulting examined the economic impact of nine utility-scale projects that are either being built or have been approved for construction from 2019 to 2022.

Theres been a lot of discussion lately about the role of alternative energy in the economy, explains Peter Casurella, executive director of SouthGrow Regional Economic Development.

Our partnership wanted to quantify the economic impacts of these projects to show how important this sector is for southern Alberta,

The total capital expenditure of the nine projects six solar, three wind is reported at $1.56 billion. And that includes hundreds of millions in local spending on things like construction, annual land lease revenues, tax assessment for municipalities and ongoing operations jobs.

Its important to note that we only looked at nine projects out of dozens that have already been built, or are being applied for now, says Bev Thornton, executive director of Alberta SouthWest Regional Alliance.

It has been said that southern Alberta is the oilsands of sun and wind and the pace of investment is growing, she says.

Alberta has a richness of both resource-based and renewable assets which, taken together, can tell a strong and balanced energy story.

With the global demand for energy continually growing, the report says Albertas wind and solar resource potential offers plenty of opportunity, particularly as utility-scale battery storage projects come online.

Southern Alberta is well-served by high solar potential and some of the best conditions for wind generation in North America, the report points out.

Today, southern Alberta is recognized globally as a top destination for new alternative energy projects, and investment is pouring into the region.

While focusing on the impact of nine current projects, the report notes there are many more projects that have both preceded this window, or which are currently waiting for approval.

Many industry experts regard 2017 as the break-even year for alternative energy technology, it says the year when the input costs fell low enough for large-scale projects in Canada to become profitable without subsidies.

Input costs continue to fall, and we anticipate that the rate of growth should accelerate.

One of the issues holding back growth of the industry is transmission capacity, it observes.

This problem can be largely mitigated by the incorporation of emerging battery technology into generation projects in the coming years, and a sustained effort in this direction should yield more integration capacity.

The report was based on the researchers assessment of five southern Alberta projects already underway or about to begin, including the Enel North America CRR2/Riverview Wind Projects totalling 146 megawatts, the Greengate/Potentia Renewables Stirling Wind Project with 113 MW, the Innogy/Belectric Solar Canada Vauxhall and Hull Solar Projects with 57 MW of alternating current, the EDF Vulcan Municipal Solar Project with10 MW of AC current and the Canadian Solar Hays Solar Project with 23 MW of AC.

It also included four construction ready projects which have received regulatory approval.

They are the Greengate/Potentia Renewables Travers Solar Project to produce 400 MW of AC power, the EDF Vulcan Solar Energy Centre Project with 78 MW of AC, the TransAlta Windrise Wind Project generating 207 MW of direct current, and the Perimeter Claresholm Solar Project for 130 MW of AC.

The Southern Alberta Alternative Energy Partnership is a collaboration between Alberta SouthWest Regional Alliance, Economic Development Lethbridge and SouthGrow Regional Economic Development which has been supporting the development of alternative energy since 2007.

Over recent years, the report says, The results of this effort have been one of the largest economic development successes that southern Alberta has seen.

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'Oilsands of sun and wind' - Lethbridge Herald

Solar panels in Egypt

The oil industry is not dying, but it must change. For Tarek El-Molla, Egypts Minister of Petroleum & Mineral Resources, the main goal is to align the industry to Egypts 2030 Vision for the sustainable development of the countrys economy, society and environment.

So, what lies ahead for a sector that is under pressure to limit carbon emissions and create a different future for hydrocarbon-based businesses?

For starters, theres no point in visionary planning for 2030 or worrying about efficiency and productivity in the oil and gas sector unless steps are taken to prevent catastrophic climate change in the same time period. His Excellency, the Minister, is keenly aware of the need to address this issue now.

We are focusing on gas in the interim as we work to fill 40 percent of our energy needs through wind and solar by 2030, he says. In addition to meeting the demands of the domestic market, the Ministers vision is to help Egypt become a clean energy hub for the region. Thanks to a clear strategy and massive efforts undertaken by the Ministry since El-Mollas appointment in 2015, that long term goal has every chance of success.

Its this ongoing strategy for sustainable economic reform and the discovery of the offshore Zohr gas field in the Mediterranean that are behind the prediction by Standard Chartered Bank that Egypt will be one of the top ten global economies in just ten years,ranked number seven ahead of Russia, Japan and Germany.

Providing an outlook

El-Molla, who spent 24 years in various operational and executive positions at Chevron, recalls the turbulent times during the early part of the decade when two revolutions were followed by a period of instability and insecurity for Egypts 120 year-old oil and gas sector. The Ministry is responsible for securing refined products for the entire country and for maintaining and ensuring production through joint partners, but during that time, it was facing the practical problems of shortages and a decline in production.

Stability returned under the current President, Abdel Fattah El-Sisi, who realized the need for someone with El-Mollas experience to lead necessary change.

One of El-Mollas first steps was to reach out to partners, vendors and suppliers. During difficult times it is easy for investors and multinationals to just shut down and leave, he explains. Its critical to keep them engaged. They need to feel confident that their investments are protected, and that the government is a stable, reliable partner.

The next steps were more difficult.

Modernizing for change

Becoming the regional energy hub requires massive changes, so the Ministry created a comprehensive modernization strategy addressing key areas such as production performance, refining and distribution, and enterprise resource planning. But the core area for overhaul was human resource development.

The Ministry is a fragmented organization comprising different holding companies, joint ventures, public sector entities and investment groups. Over 240,000 people are part of it, but they were not connected to each other.

The last organizational change was twenty years ago, says the Minister. We need to communicate our vision of change, we need to connect people to the vision, and we need the right people to make it happen.

Pulling it together requires one global system, one consolidated balance sheet, and mostly importantly, ONE team. First, the Ministry created an intranet to facilitate unified updates and messaging and get buy-in from employees. El-Molla knew from previous experience that people often feel threatened when new systems are implemented. They only accept change once they realize the system will help them work more efficiently and save time for more fulfilling tasks.

Creating a diverse workforce

Then, together with his team, El-Molla identified key competencies and announced internal openings for subject matter experts and core business disciplines like finance and administration. Out of 3,000 applicants, they selected the 700 most motivated and ambitious and then whittled that group down to 400. Those selected were sent abroad for on-the-job training and given mid-management roles upon their return, ready to fast track the organization into the future.

We now have the most diverse, highly qualified, dynamic team to take us to the next level, says El-Molla proudly.

With the right people in place, El-Molla can focus fully on the modernization process which requires the right technology. SAP S/4HANA ERP was his first choice not only because he was familiar with it from his Chevron days, but because he believes it is the right solution for preparing a national industry to work more efficiently with minimum losses at higher productivity rates.

El-Molla believes in leading by example. The Ministry of Petroleums modernization program will not only set an example for the nation, but as it begins to show results, it will help unlock the potential of the entire region by improving the economy, empowering people and creating sustainable sources of energy for generations to come.

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A Sustainable Energy Plan Will Help Put Egypt Among The Top Ten Global Economies - Forbes

Ooredoo is looking back on a strong year, as it continued to create and build its relationships with the public and private sectors. Providing support and expertise to a number of initiatives, the company signed a number of Memorandums of Understanding (MoU) with Ministries and government entities aimed at the overall enhancement of key administrative areas. The agreements helped reinforce Ooredoos position as the Sultanates data experience leaders and its contributions to the Sultanates digital transformation.

Raed bin Mohammed Dawood, Director of Government Relations and Corporate Affairs at Ooredoo, said, This years successful partnerships have not only fulfilled our commitment to build a stronger community, but have enabled us to establish long-lasting relationships with the public and private sectors. Through them we are able to provide our wide range of services and innovative products to more companies, as well as help Oman become a digital knowledge-based economy.

At the start of this year, Ooredoo joined forces with the Public Authority for Investment Promotion and Export Development Ithraa, a partnership that enabled Ooredoo to share valuable experiences and expertise with local businesses, provide them with better access to information and communication services, all the while helping them gain a competitive edge. A similar agreement was also signed with the Public Authority of Craft Industries (PACI), to help home-grown artisans develop and grow their businesses.

The telecoms company also extended its support to the education sector, signing an agreement with the General Directorate of Education in Northern Al Batinah to provide a range of schools in the governate with technical equipment and training opportunities. Other notable agreements pertaining to training and development were made with the Ministry of Awqaf and Religious Affairs, the Ministry of Social Development, the Ministry of Civil Service, and the Al Rafd Fund to support SMEs.

Dawood added, Were extremely proud of our achievements this year, which we will continue to build on. Next year we are looking to engage more partners to help prepare Oman for technological and digital advancement.

Strengthening its commitment to the community, Ooredoo also joined hands with the Ministry of Social Development, supporting various Omani womens associations around the country, as well as aiding the creation of sensory and resource rooms at several branches of the Al Wafa Centre for the Rehabilitation of Disabled Children. Another agreement was signed with the Ministry of Higher Education to provide new graduates with training, workshops, lectures and conference opportunities in technical and service fields.

On a community level, Ooredoo signed MoUs with the Ministry of Health, the Public Authority for Consumer Protection, the National Committeefor Drugs and Psychotropic Substances, and Oman Charitable Organisation to support them in raising awareness on their causes through nation-wide text messages. Committed to enriching the lives of people across Oman, Ooredoo continues to collaborate with various organisations to deliver its message of 'care' and translate it into reality.

Link:

Ooredoos Successful Year of Public and Private Sector Partnerships - Al-Bawaba

DUBLIN, Dec. 16, 2019 /PRNewswire/ -- The "2019-2020 Cloud-Based Contact Center Infrastructure Market Report" report has been added to ResearchAndMarkets.com's offering.

The cloud has become the preferred delivery model for contact center solutions. Companies large and small are taking advantage of the market-changing innovation and automation that the cloud-based solutions provide. On-premise solutions will continue to be available, but a hybrid approach that combines cloud and on-premise applications are enabling companies to migrate gradually to the cloud.

A Strong and Innovative Sector with Sustained Growth and Momentum

CBCCI offerings have reached functional parity with their on-premise counterparts, and companies of all sizes are benefitting from the advanced capabilities of cloud-based solutions. The innovations in the current generation of solutions include vastly improved user interfaces and experiences (UIs and UXs), agent desktops, enhanced routing capabilities, new key performance indicators (KPIs), and better analytics and reporting. The CBCCI vendors are offering out-of-the-box interfaces to make it easier to integrate cloud-based solutions with all types of contact center applications. They have also started to push a "digital-first" agenda by delivering omnichannel solutions to address customer demands in an increasingly digital economy. AI is being incorporated into the new generation of solutions as a foundational layer, through acquisitions, or via partnerships with vendors offering sophisticated AI capabilities.

The CBCCI market is performing well and continuing to pick up momentum: Sales of CBCCI solutions are coming from replacements of on-premise solutions, switching from one CBCCI provider to another, and small and mid-size enterprises (SMEs) purchasing their first contact center systems. Growing demand is being driven by the classic CBCCI benefits as well as new features being delivered by the vendors who are striving to differentiate themselves in a crowded market. The number of CBCCI seats in the market grew by 20.1% between 2017 and 2018 (as of July 31, 2019). The publisher expects the number of CBCCI seats to increase by 23% in 2019 and 2020, by 21% in 2021 and 2022, and by 20% in 2023.

The Leading Resource for the CBCCI Market

The report provides the most thorough, authoritative analysis of this explosive market. The report examines the competitive landscape as well as the business, market and technology trends and drivers that are shaping the cloud-based contact center infrastructure (CBCCI) sector. The 2019-2020 edition analyzes the servicing, business and management trends and innovations that are transforming the way enterprises are interacting with customers, prospects and employees. It provides detailed information about the offerings, as well as market share, projections, adoption rates, benefits, return on investment (ROI), pricing, and implementation best practices. The report also presents the results of a comprehensive customer survey that measures satisfaction with the vendors and their product offerings.

The report features 9 leading and contending vendors: 88, Cisco, Content Guru, Five9, Genesys, NICE inContact, Serenova, Sharpen and Twilio. Vonage, who acquired NewVoiceMedia in November 2018, is covered at a high level. The report also includes a comprehensive Vendor Directory that lists providers of cloud-based contact center infrastructure systems and applications for contact centers and customer service organizations worldwide.

The report includes:

Key Topics Covered

1. Executive Summary

2. Introduction

3. Research Methodology3.1 Report Participation Criteria

4. Cloud-Based Contact Center Infrastructure Functional Overview4.1 Cloud-Based Contact Center Infrastructure Functional Components

5. Cloud-Based Contact Center Infrastructure Market Trends

6. Cloud-Based Contact Center Infrastructure Market Challenges

7. CBCCI Market Innovation7.1 New Product Features7.2 Future Enhancements

8. Digital Transformation Initiatives for Contact Centers

9. The Changing Workforce

10. AI-Enabled WFO: Interaction Centers of the Future10.1 Recording10.2 Quality Management10.3 Analytics-Enabled Quality Management10.4 Gamification10.5 Contact Center Performance Management10.6 Surveying/VoC10.7 Workforce Management10.8 Knowledge Management10.9 Interaction (Speech and Text) Analytics10.10 Desktop Analytics10.11 Customer Journey Analytics10.12 Predictive Analytics10.13 Robotic Process Automation10.13.1 RPA Building Blocks10.13.2 Attended and Unattended Automation

11. Cloud-Based Contact Center Infrastructure Market Activity Analysis

12. Adoption of Cloud-Based Contact Center Infrastructure Solutions

13. Cloud-Based Contact Center Infrastructure Market Projections

14. Cloud-Based Contact Center Infrastructure Competitive Landscape14.1 Company Snapshots

15. Cloud-Based Contact Center Infrastructure Core Functionality: ACD, CTI, IVR/IVA, Dialing

16. CBCCI Functional Analysis16.1 High-Level Functional Summary16.2 CRM16.3 User Interface16.4 Dashboards, Reporting and Business Intelligence

17. CBCCI Technical Analysis17.1 High-Level Technical Summary17.2 Security17.3 Compliance Management

18. Implementing and Managing a CBCCI Solution18.1 Vendor Implementation Analysis18.2 CBCCI Decision Framework18.3 Service-Level Agreements18.4 Disaster Recovery/Business Continuity

19. Cloud-Based Contact Center Infrastructure Vendor Satisfaction Analysis19.1 Summary of Survey Findings and Analysis: Vendor Categories19.1.1 Vendor Satisfaction by Sub-Category and Customer19.2 Summary of Survey Findings and Analysis: Product Capabilities Satisfaction Categories19.2.1 Product Capabilities Satisfaction by Category and Customer19.3 Summary of Survey Findings and Analysis: Product Features19.3.1 Product Features Satisfaction by Sub-Category and Customer19.4 Summary of Survey Findings and Analysis: WFO Components19.4.1 Workforce Optimization Satisfaction by Category and Customer19.5 Customer Background and Insights19.5.1 Channels Supported19.5.2 Digital Transformation Support19.5.3 Engineering a Better Customer Experience19.5.4 Pain Points Being Addressed with CBCCI Solutions19.5.5 CBCCI Challenges19.5.6 Additional Comments

20. Pricing20.1 Pricing Structure20.2 Pricing for a 250-Seat CBCCI Solution

21. Company Reports21.1 88, Inc.21.2 Cisco Systems21.3 Content Guru21.4 Five921.5 Genesys21.6 NICE inContact21.7 Serenova21.8 Sharpen Technologies21.9 Twilio, Inc.21.10 Vonage Holdings Corp.

22. Appendix: Cloud-Based Contact Center Infrastructure Vendor Directory

For more information about this report visit https://www.researchandmarkets.com/r/3ib443

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets Laura Wood, Senior Manager press@researchandmarkets.com

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Cloud-based Contact Center Infrastructure Market Report, 2019-2020 - Number of CBCCI Seats to Increase by 23% in 2019 & 2020, by 21% in 2021 &...

Latest economic impact report highlightsongoing legacyaseconomic driver,statewidecommunitypartner ineducation, employment and healthcare.

The university today released the results of anindependent analysis ofthe economic impact ofVanderbilt University and Vanderbilt University Medical Center,outliningthe many ways thetwoinstitutions contribute to, andbenefit,Tennessees economy.

Our impact, through our educational mission and the activity that supports it, reaches far beyond our campus in terms of research, discovery, an educated workforce and jobs for Tennesseans.~ Susan R. Wente

We are invested in Tennessees progress as a partner in facilitating innovation, jobs and growth, Interim Chancellor and Provost Susan R. Wente said. Vanderbilts success is intertwined with that of our state and region, and I am deeply proud of the many ways that Vanderbilt contributes to Tennessees economic strength. Our impact, through our educational mission and the activity that supports it, reaches far beyond our campus in terms of research, discovery, an educated workforce and jobs for Tennesseans.

Vanderbilt-related operations, along with student and visitor spending, generatedanannualimpact of $11.9 billionin economic activity, approximately 79,200 jobs and more than $4.2 billion in labor income, according to the biennial report that looks at figures from fiscal year 2018.By comparison, the 2017 report, which was based on fiscal year 2016, listed the institutions annual economic impact as $9.5 billion, jobs at 63,500 and labor income at $3.8 billion.

Vanderbilts annual contributionsstem frominstitutional spending on payroll, construction and general procurement with Tennessee companies, local spending by students and campus visitors, and economic development through labor force and research commercialization.

Though VUMC became a full independent nonprofit entity in spring 2016, the medical center has preserved its connections to the university in researchandteaching.Together, Vanderbilt institutions are the largest private employer in the Nashville region and the second largest private employer based in the stateemployinga total of approximately 33,200 faculty, staff and medical professionals.

Although they are tax-exempt as nonprofit institutions, the university and the medical centers economic activity also contributed $279.2 million in annual tax revenue for the state.

The university, which serves a student population of just under 12,600, contributes more than 3,855 undergraduate, graduate and professional degrees to the economy eachyear.

On the medical side, there were approximately2.4 millionpatientvisits last year, along with $591 million in research awards and $711million in charity care, community benefits and other unrecovered costs.In the 2017 report,uncompensated medical care provided by VUMC totaled $513 million.

There is a vital relationship between better health and a healthy economy. As we make new discoveries that offer the promise of new treatments and cures, and through ongoing investments in the strength of our health system, we are proud to play an important role in Tennessees economic prosperity.~ Jeff Balser

With1,091licensed hospital beds, VUMC hosted nearly67,000 surgical procedures and 2.4million visits last year, while at the same time training more than 1,050 residents.

There is a vital relationship between better health and a healthy economy.As we make new discoveries that offer the promise of new treatments and cures,and throughongoinginvestments in the strength of our health system,we are proud to play an important role in Tennessees economic prosperity, said Jeff Balser, MD, PhD, president and CEO of Vanderbilt University Medical Center and dean of Vanderbilt University School of Medicine.Our training programsremaina dominant resource forTennesseesspecialty trained physicians, such as general surgeons, pediatricians and obstetricians,whileweare always pursuing other initiatives that improve care and address costs that help contribute in other ways to our states prosperity.

The2019 report andanalysis, by Austin, Texas-based TXP Inc., quantified the total annual economic and tax revenue generated by the university and medical center, including factors such as operations and construction, employment, student and visitor spending, and business spending generated by Vanderbilt-related activities. It also estimated the ripple effect in jobs and labor income of Vanderbilts operations and spending throughout Tennessees economy.

Originally posted here:

Vanderbilt reports record $11.9 billion economic impact in Tennessee - Vanderbilt University News

Never before has the urgency of climate action for ocean health been more pronounced. In September, the Intergovernmental Panel on Climate Change (IPCC) published its firstSpecial Report on the Ocean and Cryosphere in a Changing Climate, finding that climate-induced declines in ocean health will cost the annual global economy $428 billion by 2050 and $1.98 trillion by 2100.

Now, building on this analysis, anew papercommissioned by theHigh Level Panel for a Sustainable Ocean Economyunpacks what these economic losses are at the country and regional level across three of the ocean-based industries coral reef tourism, wild fisheries and mariculture (the cultivation of marine life for food).

The results are sobering. Changes to the oceans temperature, chemistry, flow and food webs have broad implications for our global economy. While some countries are set to maintain or improve catch and profits, billions of others around the world who rely on healthy oceans will see decreases in fish, food and prosperity. West Africa could see fish stocks decline by up to 85% due to migration to cooler waters. The North and South Atlantic, North and South Pacific, and Indian Ocean basins will see fish stocks decline by up to 30% by 2100 as fish migrate to Polar Arctic and Southern Ocean basins.

Coral reef tourism, worth $35.8 billion globally every year, could experience revenue losses of over 90% based on the current trajectory of warming.

However, if we act now, we have a path to reinforce the resilience of these ocean ecosystems and the industries that rely on them.

First and foremost, we must urgently reduce global greenhouse gas emissions from both land and ocean sources. A recent analysis commissioned by the High Level Panel for a Sustainable Ocean Economy found that ocean-based climate action could deliver up to 21% of the emissions reductions needed by 2050 to limit global temperature rise to 1.5 degrees C demonstrating that the ocean can be a powerful part of the climate solution.

But for the impacts which are now unavoidable, decisionmakers must change the way they manage their marine resources.

Wild capture fisheries produce approximately 79.3 million metric tons of fish, representing 46.4% of global seafood production and $130 billion in economic value. The industry employs 30.6 million people and operates 4.6 million fishing vessels. And for coastal communities and small island nations, small-scale fisheries are the backbone of their economies and their main source of protein.

As suitable habitats shift and change, marine species will move across jurisdictional boundaries. That will make it impossible to base management on historical benchmarks. As the climate changes, the fisheries sector will need to work to understand risks and anticipate changes and to make decisions aimed at improving ecosystem health. Regional, national, and international cooperative agreements will be necessary to ensure they are well-managed, and that the benefits are fairly distributed, during and after the transition.

In fact, our research finds under all climate scenarios that climate-adaptive fisheries management results in greater cumulative profits than business-as-usual management for 99% of countries. For many countries, catches can also be increased under certain scenarios. A constantly changing ocean requires management strategies and decisions to factor flexible, adaptive and precautionary approaches. As waters warm and acidify, fish stocks will migrate poleward, resulting in potential regional and international conflicts over shifting resources and exacerbated inequalities.

Historically, well-managed fisheries have been among the most resilient to climate change. Wider implementation of best practices in fisheries management will mitigate many of the negative impacts of climate change.

Mariculture, or marine aquaculture, produces over 38.6 million metric tons of seafood worth $67.4 billion every year. This sector has great potential as a source of nutritional seafood in the future, not least in areas where fish stocks are forecast to decline.

Although climate change is expected to reduce the productivity of mariculture, the magnitude of this reduction is small relative to the sheer potential for production. For many countries, developing or expanding sustainable mariculture could help offset the negative efforts of climate change on their local fish stocks.

Ocean tourism has the potential to alleviate poverty, especially in coastal fishing and farming communities where poverty incidences are high. It can boost local and national economic development and improve local welfare. But even if tougher climate action is taken to cut greenhouse gas emissions, and climate change stabilizes, coral cover is still expected to reduce by up to 28% resulting in global economic losses of up to 66%.

Diversifying tourism activities and investments will help maintain diverse ecosystem functions, while simultaneously capturing the tourism potential of various ecosystems. Ecotourism tourism activities that support nature conservation and education should be prioritized to prevent exacerbating the degradation of the environmental resource base that the tourism industry depends on.

Protecting mangroves, salt marshes and seagrasses which serve as nursery areas for coral reef fish species and trap sedimentwill also serve to enhance reef health and productivity. Furthermore, reducing local threats on these interconnected habitats (such as sedimentation, nutrient pollution and overfishing) will improve the ability of coastal ecosystems to cope with warming and acidification.

Linking fisheries, aquaculture and tourism to local food and livelihood security will also improve the portfolio of policies that can be applied to reduce climate changes impacts on local and national economies. Activities in the marine environment can also be strategically sited to reduce negative interactions and maintain healthy reefs.

The steps taken to adapt these three sectors for coming climate impacts must consider the equity implications of all new and existing management decisions. Climate change will exacerbate global inequities, and inequity reduces resilience, thereby likely worsening outcomes under all climate change scenarios. Truly inclusive, representative, participatory decision-making processes are needed in all sectors to ensure procedural equity in all policy and management decisions.

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Climate change poses an existential risk to ocean industries. Here's how they can respond. - GreenBiz