With industrial output increasing slowly with each passing month, the prospect of incorporating industrial robots seems enticing for many. This, coupled with the notorious phenomenon of ‘The Great Resignation’ in the developing countries, the automation market is set to witness a boom in the coming years.
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Russia-Ukraine war took center stage at the recently concluded World Economic Forum in Davos, the debt crisis and the rising inflation has been the main stress points for every policy decision. The debt crisis seems to be the tip of the iceberg with most of the citizens facing complications pertaining to livelihood crisis and climate change.
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Our world is slowly grinding back to recovery after the disastrous 2-year-long pandemic that brought the world as a whole to a standstill. World leaders are cordially coming together for a globally wholesome solution to this financial
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In this latest issue, you will come across a very interesting article about the effects of Stagflation and how it is inspiring policymakers across the world. While 2021 was highlighted by slow growth, 2022 is largely populaized by the term ‘Stagflation’. This issue also gives you a glimpse into the technology trends in retail that is favouring the rise of IoT in the sector.
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Cover Story
Ahli Bank wins top honours for its
CONTENTSCONTENTS
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How does a meme token work in a decentralized finance system? Survival Mode: How a DuringStartupUkrainianHelpsPeopletheWar 06 20 29 33 TCS goIT Program inspires students pursue technologyeducation,STEMcareers in KSA 46 TechnologiesHydrogen Enabling IndustriesNet-Zero 52 How Social Media Platforms Can increase the sales of Any Business 38
technologybanking
Majid Al Futtaim partnership with MIT Center for Real Estate
In which technologies are AUB planning to invest in the next 5 years?
Ahli United Bank wins top honours for its banking technology
Banking 06
Tell us about the current technology trend observed across banks in the GCC region and in Kuwait.
In a conversation with International Business Magazine, Mr. Abdullah Jaragh - AUBK’s CIO discussed the current technology trends, what technology he believes will define the future of banking, and the robust security features used in the Bank
if we see the recent short term trends that are not based on major technology shifts to “Big data Analytics”, “Open Banking” or block chain etc., These trends also revolves around customer experience as we can see a “explosion in Mobile banking Usage”, “Contactless payments are on huge growth”, “Trade and supply chain” processes undergone a noticeable change to be closure to consumers and be paperless as much as it can.
‘Data Open Banking is crucial for today’s banks’
In addition the data open banking is one of the critical need to current banks in region. I have seen a significant move towards “Open banking financial innovations” and cloud computing. With the help of
In-line with AUB strategy to innovate and invest in technologies from a long time. We have planned to invest and in fact already invested in many of the advanced technologies to build a strong ecosystem to provide best in class products and services to our customers. Some of these technologies includes, Robotic Process Automation, Open Banking Financial Innovation, Big data Analytics and Cloud computing (As per the approval framework on Central Bank of Kuwait). To provide best in class services in experience to customers we need to be strong in our internal support unit process also, therefore we have invested and growing more on “Business Process automation” part as a short term plans.
- Abdullah Jaragh of Ahli United Bank
Ahli United Bank K.S.C.P. was the first bank to be established in Kuwait in 1941, and since converting to Islamic banking in 2010 has led the field in offering innovative Sharia-compliant financial solutions and services.
Over the recent years banks in GCC region and in Kuwait are more focused to Digital transformation, where customer experience (CX) banking, innovation and sustainability is the key focus. And to innovate in terms of customer experience, “data” plays an important role. I have seen banks and financial institutions are investing more in Data Analytics. Be it be the regression on customer’s “expending trends” or customer “sentiments analysis” based on feedbacks but it’s all about data now a days.
Open banking banks are integrating and collaborating with fintech (financial technology) provider but the ultimate goal of Customer Experience is always the key Moreoverfactor.
Banking 07
delivering optimal experience through the customer desired digital channels.
Also in collaboration with Public Authority of Civil Information (PACI), we are now integrated with “Kuwait Mobile ID” for Authentication and Digital Signature allowing us to server customer account boarding and KYC digitally. In addition we recently did a CRM Enhancements to turn tellers to sellers, it include CRM with capabilities to have quick and effective data and insight of customer. To enable tellers or front users for Cross-Selling and providing best in class service to customers.
What is the strategy adopted for Digital Transformation at AUB?
Middle east Award for ATM Innovation”.
This will interns helps to digitalize the highly utilized products and services to lower operational cost, making them more interactive for customers and hence increase revenue. Our strategies involves, Engaging more and more with customers and
Give us a few instances of innovations done at AUB in the past 5 years.
Our Digital Transformation strategies involves the usage of data analytics (AI & NLP) and analyze our customers “product and services usage trend” and “sentiments of our customer via feedback”, to enhance customer experience.
As our employees are our biggest assets, we empower them to anticipate and meet customer demand through an enhanced process enabled by advance technologies. Our strategies involves to optimize the operational processes by better managing the resources and keep business process synchronized across all boundaries.
Our technology and banking team always motivated for Innovation, therefore sure I would like to mention some of our key Innovative initiatives like, “Digital Branch in Avenues –Mall”, there are number of features that makes this branch one of the most advance in region. It is designed in a way to add new technologies quickly over the coming months and years. Another initiative is for Innovations on ATM, AUB ATMs are now equipped with, OMNI channel experience of transactions on ATM, In addition contactless or card less transactions can also be performed using NFC, Civil ID and PACI mobile ID. This ATM innovation awarded as the “Asian banker
Banking
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What are AUB’s unique and robust security features?
Insider Threats: User Access Reviews, Risk Management Framework, Effective Governance framework and Segregation of Duty Matrix
Cyber Threats: Multi-Factor Authentication (MFA) and Privilege Access Management (PAM)
End Point Security solutions: Data Leakage Prevention (DLP) - File Integrity Monitoring (FIM)Security Information and Event Management (SIEM)
Physical Threats: CCTV Monitoring - Effective Visitor Management System
Defense in Depth (DiD - Firewall) - Data Encryption - Technical Compliance: Vulnerability AssessmentPenetration Testing - Patch Management - Baseline Assessment - Design and Develop
Endpoint Detection & Response (EDR) - Network Access Control (NAC) - Anti-Virus
Security Operations Center - Database monitoring tool - Threat advisory partners (CTM 360 – Atos –CBK etc.) - Active directory security tool
Banking 09
AUB ensures to have a robust security controls to protect all the assets from the following threats:
Unlike other ERP systems, Odoo is cost-effective, flexible, and simple to use, allowing the entire e-in voicing solution to be implemented within a few days. With more than 60 business applications, SMEs can manage their accounting books and ef fectively run marketing, HR, sales, and other quin tessential business operations.
Odoo, a leader in open source business software, has implemented the localized solution for many companies in Egypt and continues to support man datory e-invoicing seamlessly and effetively.
With Egypt’s new e-invoicing policy, all companies must electronically issue their invoices. With new re quirements come new challenges; however, Odoo’s new localization feature makes Egypt’s digital trans formation efforts easy.
Taxpayers who have Odoo ERP system need to reg ister it on the ETA portal, configure Odoo and start sending invoices to the governmental portal.
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Odoo added that its e-invoicing feature helps reduce the chance of human error while improving security through encrypted exchanges between parties. Ulti mately, Odoo users can benefit from the automated, free-of-cost solution, reduced costs, and accelerat ed efficiency when processing compared to manual paper invoices.
It’s crucial for businesses operating in Egypt to comply with the e-invoicing system, not only to adhere to new government requirements but to further streamline the business process and reduce overhead costs along the way. Odoo’s localized solution is a perfect answer for companies that want to stay relevant and implement new requirements quick and hassle-free.
Pavitra Singh Managing Director of Odoo Middle East DMCC
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Level Benefit Bonus
• Fullerton Markets’ Ultimate Level-Up Bonus: Clients and partners are eligible for a credit bonus every time they deposit. They can claim 5% for their first USD10,000 and will level up to 20% according to the table below. Once they reach the highest level, they can claim a 10% bonus for every deposit made, regardless of the size of the deposit.
Fullerton Markets CEO
We would like to highlight the services and products that our clients believe in:
Second USD10,000 10% Bonus USD 1,000
Elaborate on the range of products from Fullerton Markets01
Fullerton Markets, an award-winning broker recognised for being a disruptive force in the trading industry, was recently awarded two titles, Best Forex Broker, Asia Pacific 2021 and Best Copy-Trading Platform, Asia Pacific 2021 by International Business Magazine.
Third USD10,000 15% Bonus USD 1,500
We have earned our status for international service with a local approach
First USD10,000 5% Bonus USD 500
Rahul Sodhy
On behalf of his team, Rahul Sodhy, CEO of Fullerton Markets, conveyed his gratitude, “Thank you! Winning these awards, Best Forex Broker & Best Copy-Trading Platform Asia Pacific 2021, make us strive to give the best to our clients. I would like to personally thank all of our partners and traders who have been together with Fullerton Markets from day one. The motivation you give us is the reason we achieve such accomplishments. Thank you for trusting Fullerton Markets.”
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Fourth USD10,000 20% Bonus USD 2,000 >USD40,000 10% Bonus 10% of each deposit
• Segregated accounts for corporate and client funds so that the latter is never used for operating expenses
• Independent Custodian Protection with Fullerton Custodian to prevent misappropriation or mishandling
• Our very own copy trading platform, CopyPip: strategy followers access a global network of 400+ global strategy providers/skilled traders, and enjoy complete control over their portfolio.
• Financially protected by a world-class insurer in the event of director’s keyman risk through insurance
• State-of-the-ar t business analytics: offers Introducing Brokers/partners with in-depth intelligence and comprehensive insights into how their business is growing.
What sets your company apart that helps it stand out from its peers?
• CopyPip 02 IBs
• Fullerton Suite (a powerful back-office)
• Daily Trade Ideas
The three-level protection plan of Fullerton Shield to ensure the Safety of Funds are:
• Weekly Research
• PipProfit!, is a mobile app that serves as an all-in-one trading resource: Users access educational content, trade ideas, the latest trading-related events and can request to make deposits/withdrawals from the
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Traders
• Attractive Rebate Payouts (paid instantly)
Fullertonapp.
• PipBox (Complete toolbox of internet marketing and social media marketing)
Speed of Execution is one of the key pillars of our business, and our connection with Equinix has been a key factor in this. When we set out to disrupt the online trading industry, we knew we had to have one thing. Speed! It is what keeps us ahead of the game. The lightning-fast execution capabilities of our platform would allow traders to quickly place their orders and see a response, an essential element in a business where every second counts.
Markets prides itself on “3S” – the Safety of Funds, Speed of Execution, and a System of Wealth Creation. We aspire to create a trading environment built on trust, where everyone is safe to grow their wealth. We provide clients with our triple-level protection plan, Fullerton Shield, which features added safety measures that are not offered by other brokers in the industry. Fullerton Shield allows our clients to trade and earn with peace of mind.
Here’s how we support traders and IBs:
We also provide a system to help traders and IBs create wealth for themselves. Our goal is to educate as many as possible about the financial markets as a whole. With our System of Wealth Creation, we truly believe that anyone can create wealth in the markets; either by trading or by business-building.
Tell us about the Team. How has the team assisted and improved the company’s journey in trading so far?
Instagram, Twitter and WhatsApp. Their posts are then instantly posted to social media or chat apps as soon as they are published. The digital team has worked very hard to create this disruptive affiliate tool, and PipBox is the fruition of that endeavour.
No doubt, our success has come as a result of our unwavering focus on forward-thinking innovation. From the outset, we’ve set out to create a new kind of trading organisation – one that epitomizes the very core of diversification. We at Fullerton Markets, believe in building futures with technology. As such, we strive to be at the forefront of progress by encouraging innovation both within our business and in our partnerships with tech firms.
Culture is the key to unlocking our potential and achieving amazing results! It is the most important thing in any organisation. We define culture as the combination of values and behaviour. Values are what pull us on the inside. Behaviour is what pushes us on the outside. It is what brings us together, and it is what makes us unique. Culture is why we commit to a shared mission, value each other, and speak with one voice.
We feel privileged to share this platform with our affiliates. PipBox is designed simply and powerfully to provide the best content for our affiliates to share on their favourite social and messaging sites. Once the affiliates log in to PipBox, they will see a dropdown menu. All they need to do is select the content and share it on their favourite apps like Facebook,
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We are driven and dedicated to growing the wealth of each of our clients. We provide them with the offerings that help them unlock their earning potential through Fullerton Markets’ copy trading platform, CopyPip, and passive income generation tool, PipBox, a digital tool for its growing army of affiliates.
We have recently launched our new Chat Hub on various channels, like WhatsApp, Telegram, Viber, LINE, and WeChat. This is to provide more efficient and convenient 24/5 live support to our clients on their preferred messaging platform in their preferred language. We are expanding the products we offer and by the end of 2021, we have fully launched crypto and stock offerings, solidifying our vision of being a multi-asset broker.
What are the different services provided by your company and what are your company’s latest unique offerings in the field of Forex trading?
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Mario Singh Group Chairman
Fullerton Markets’ MT5 platform offers 21 timeframes, six pending order types, a built-in economic calendar, real-time Depth of Market data and an in-app shortcut to Fullerton Suite. Our
Innovative in spirit and committed to our vision! We are consistently working hard to provide the best service for our global clients – be it in trading or business partnership. We aim to be their truly committed trading partner in their journey of wealth creation. Our accolades over the years are perhaps a testament to our continued growth!
The values that we believe in, and put into place in our company, are our Passion, Excellence, Commitment, and Sustainability.
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Fullerton Markets has achieved incredible milestones, and we couldn’t be prouder! We look forward to reaching even greater heights and we will continue to do our best to bring our clients and partners improved solutions and a quality trading experience
embraced by the international community as a reliable broker because of our local expertise, which was demonstrated when we entered the market in 2016. Speed and Service are at the forefront of what we do, which is why our communication to our base of international clients includes languages in English, Thai, Vietnamese, Chinese, Bahasa Indonesia and Bahasa Melayu.
The whole team is committed to delivering unparalleled Safety of Funds, Speed of Execution, and a reliable System of Wealth Creation. We
Cover Story
We have several standout features that has proved to be beneficial for our clients. The launch of the MT5 trading platform enhances the trading experience of our clients and will help expand their business. The new platform offers more trading flexibility and additional trading functionalities that will allow traders to explore, adapt, and earn from what is likely to become the trading platform of choice in the future.
Fullerton Markets is based in Asia, where over 4 billion people reside. It is establishing bases of clients where some big brands have failed due to a lack of local understanding. We have localised teams in different countries across Asia to support our clients and partners. Fullerton Markets has made a name for itself by providing international service with a local approach and it has been
Clients have full access to features and tools that allow for better control of their trading activity and improved charting among others. Given MT5’s newer technology, we can only expect better performance and sustainability of the platform, a key advantage that it has over its older counterpart. As such, the trading possibilities for our clients will be vastly multiplied with new and improved resources available on our MT5 platform.
award-winning Research & Education team helps our traders make better trading decisions. Soon, we will be launching CopyPip Pro, the newly upgraded copy trading platform with unique and enhanced features built-in, to enhance the trading experience and results for our clients.
provide our global clients with direct access to the world’s largest financial market and promise price stability at competitive rates through our tierone liquidity providers. Equipping clients with the necessary tools and knowledge, Fullerton Markets empowers traders to effectively compete in the markets.
Tell us your growth story since 2016?05
What are the ways in which, Fullerton Markets has overcome challenges with its specialized trading services?
British businesses are booming. The number of new businesses registered in the UK in the first half of 2021 increased by 32% against the same period in 2019. A combination of enterprise, social, and work ing changes has presented new opportunities for budding entrepreneurs to take the reins of their own brand and have a go at being their own boss. It also signals a rise in entrepreneurship to help drive the economic recovery post-COVID.
cashflows, supercharge product development, and unlock finance management.
Alongside new digital services, the demand for tech nical transformation, and the growth of no-code platforms, there is now a unique prospect to hone your technical literacy and start a business that has real potential for growth.
Innovative technology has further presented oppor tunities for new businesses to experience acceler ated growth. The use of B2B Buy Now Pay Later (BNPL) platforms are enabling businesses to extend
How to Start a Business for less than £1,000
Here, Jamie Beaumont, founder and CEO of Playter, investigates four emerging digital industries with space on the market to start a business for less than £1,000.
Corporate 16
• Displaying a menu on the phone
NFC tags can cost as little as £0.25. It’s a small sticker with a paper-thin chip inside. These tags can be programmed with no code using smartphones and apps that are accessible to everyone. In homes and businesses, you could set up NFC tags to be activated when phones are tapped against them. These can trigger actions including:
This venture is commonplace on many ‘businessesto-start’ lists, but the growth of the sector continues to make this an exciting endeavour, with low set-up costs so that most people can start with a limited No-codeinvestment.platforms
You may not be familiar with near-field communication (NFC), but you’ve been using it for years. Today, most smartphones have NFC capabilities. This al lows them to communicate with other NFC compat ible NFCdevices.isactivated
Near-field communication (NFC) integration Ecommerce Marketplace01 02
There are a variety of ways to get into e-commerce for less than £1,000. According to Oberlo, using Shopify, a drop-shipping platform and domain provider, will cost start-ups in the region of £500£600 per year, with additional costs depending on your stock requirements.
Corporate 17
• Connecting to a venue or home’s Wi-Fi
when two compatible devices are tapped against each other, where set instructions can then be played out. Familiar actions include pay ment tap-and-go systems, entry badges to authorise access to buildings, and digitised time-stamp cards.
• Controlling or dimming lights
Partially spurred on by the pandemic, global e-commerce retail sales increased by 65% between 2018 and 2021.
• Taking customers to a specific website
Of course, dropshipping is not the only way to begin your e-commerce marketplace. Entrepreneurs may find success selling products from other sources, identifying gaps in the market where competitors have not yet focussed their sales and customer outreach.
such as Shopify and Wix are enabling business owners to create brands from scratch. Meanwhile, other e-commerce platforms, such as Amazon and eBay, allow businesses to place their products in front of huge audiences.
The applications of NFC are now being integrated across businesses and domewstic settings for a va riety of uses. The installation and integration of NFC tags could be a viable business for entrepreneurs. The global NFC market is expected to grow 49% between 2022 and 2024.
While there may be other costs incurred with setting up your NFC business, in theory, there’s no reason you couldn’t set this one up for only £0.25.
Automated services are set to be the next big thing in the world of customer experiences, and it’s a market that is still up for grabs for any entrepreneur pining for a successful business.
The potential for marketers to create a business around social media grows alongside the increasing use of these platforms. By 2025, there will be an additional 450 million users of social networks.
Chatbot builder03
The best part is that the tools to get started are free – you can run campaigns on the platforms themselves. You will, of course, need knowledge of how to set up and run carefully-targeted campaigns, and how to interpret and learn from the results. You’ll also need a creative eye, while strong content creation, audience understanding and metric tracking skills are also essential. However, there is a huge variety of free courses online that can point you towards effective social media use.
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The market revenue of chatbots is set to increase by 327% in the next five years, so there’s real growth potential for your new business. The cost of a chatbot-building service can vary between £120 and £540 per year, depending on the features, its integration, and the number of conversations the chatbot can deliver.
Outsourced social media management04
Chatbots can vary in utility. Your own experience with them may tell you as much. Retailers may be able to tell you when your order is expected for delivery. Hoteliers may allow you to book and pay for a room using a messenger service. Even Domino’s is in on the action, integrating Facebook messenger with their ordering service. Now, you just need to ask ‘Dom’ for your pizza.
All it takes is some forward planning, considering what your clients’ customers may ask for over a messaging service, and how to respond to their questions. 21 percent of surveyed consumers think that chatbots are the easiest way to contact a business. Remind your customers of its value when you pitch your new business to them.
Although it may not cost anything to set up, developing your social media skills could be a worthwhile investment. The Chartered Institute of Marketing, for example, offers a Social Media Strategy Masterclass for £575, elevating your ability to drive continuous conversation and a compelling content narrative in your customer’s markets.
Social media is a great tool for businesses to reach new audiences and keep existing customers engaged with their products and services. 89.3% of businesses believe that social media is very important or somewhat important to their overall marketing strategy.
As businesses continue to expand their digital offering to consumers, you may find untapped potential in setting up chatbots for forward-thinking companies. Even better, there’s no coding involved.
The average value of online shopping orders originating from social media in the second quarter of 2021 was £61.90: its prevalence and success has created a huge market for outsourced social media management services.
Starting a business is an exciting prospect and there are a number of low-cost routes in to build your own business start-up. Plus, once you’ve navigated the first year or so and are starting to think about scaling up, services such as B2B Buy Now Pay Later mean any one has the potential to successfully create and grow a business.
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Majid Al Futtaim, the leading shopping malls, com munities, retail, and leisure pioneer across the Middle East, Africa, and Central Asia, announces its membership of the Massachusetts Institute of Technology’s Center for Real Estate (MIT/CRE) as a Strategic Partner.
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Additionally, this partnership will empower the Majid Al Futtaim and MIT/CRE to collaborate on in-depth research in areas of common interest, as well as pro vide development opportunities for Majid Al Futtaim
partnership, will aid them in joining the global net work of some 1,300 MIT Center alumni, researchers, affiliates, and 30 strategic industry partners.
Majid Al Futtaim added that this strategic
Industry sources added that the latter will comprise access to Majid Al Futtaim’s leadership team and its broad portfolio of real estate developments, includiwng its shopping malls and integrated residential com munities across the region.
It also works with other faculties and departments at MIT, including the MIT Media Lab and the MIT Mobil ity Initiative, to incorporate the latest thinking and in sights for the improvement of the built environment.
As the first real estate developer from the MENA region to join the MIT Center for Real Estate as a strategic partner, Majid Al Futtaim – Properties is excited to work with the distinguished professors and students of MIT, one of the world’s most prestig ious academic institutions. At the same time, we are delighted to bring our own expertise in pioneering the region’s most exciting destinations to the table, as well as our ambitions and plans to reinvent many of these experiences.
of interest to the global real estate industry. Industry sources further explained that the Center addition ally has several subject-focused research initiatives, including the Real Estate Climate Initiative, Real Es tate Technology Initiative, Price Dynamics Platform, and Asia Real Estate Initiative.
professionals, along with industry resources for MIT faculty and students to apply innovative concepts and solutions to real-world environments.
Ahmed Galal Ismail Chief Executive Officer of Majid Al Futtaim
The MIT Center for Real Estate sits at the intersection of tech nology, innovation, and the built environment. We bring together some of the world’s leading thinkers in various disciplines, which guides our holistic approach to better understanding how the real estate industry currently operates and how it continues to evolve. Importantly, we work with leading real estate firms like Majid Al Futtaim to put theory into to practice and help better understand some of the most pressing issues of the day, such as the digital transformation, responding to urban growth, sustainability and resiliency, and consumer trends.
Additionally, the MIT/CRE claims that they are the global foremost institutes that offer an interdisci plinary platform for the study of real estate and its related practices, from initial concept to market re ality. It brings together professors and researchers in urban design and planning, urban and environ mental economics, sustainability and climate tech nology (climatech), digital innovation and property technology (proptech), real estate financing and in vestment, project delivery, Artificial Intelligence/ Ma chine Learning, and data science, and other topics
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Professor Kairos Shen Executive Director of the MIT Center for Real Estate
Stock and bond markets move in cyclical phases. Generally, one can expect markets to experience lows when prices fall and peaks when prices surge. Whilst only a select few know more or less when and how much approximately those lows and highs will manifest, one can expect the financial markets and most global economies to eventually bounce back to those levels.
of all aspects operating and governing in the finan cial services industry.
1.
June Jamboree with J-Pow and Markets Pow-Wow
Finance 22
To say I’ve been inundated with calls and meeting requests to rebalance portfolios and hedge posi tions would be an understatement, but is the order of my day or need I say month, especially with BTC dropping sub USD 20k. As an investment manag er, having endured the tech crash in 2000, and the global financial crisis in 2008 have seasoned me to believe in my very own investment philosophy which is a blend of traditional and conventional techniques to not only achieve alpha at times but mainly to secure steady growth within the confines
The four stages of a stock market cycle are Accumulation occurs after the market has capitulated or bottomed out and investors begin to look for opportunities in cheap valuations.
3. Distribution happens when the majority of activity shifts to sellers as the market reaches a peak.
This highlights the importance of constructing and maintaining a diverse properly balanced portfolio versus a highly concentrated non-diversified one, which can more effectively withstand the shock of a market downturn. When financial markets are in turmoil and account balances start to fall, there can be a strong temptation to attempt to do something to stem any perceived losses, and it’s naturally deeply entrenched in human behavior. If you’ve been reacting to the market emotionally given what’s
4. A Downtrend transpires when prices begin to fall and the cycle begins a new.
2. Markup occurs after a period of market stability and security prices rise.
It certainly doesn’t help when media outlets report doom and gloom at every opportunity. Inflation is up! Pending recession! War in Ukraine! Buy! Sell! Due to our heightened sensitiv ity, we become magnets to negative bias that leads us to react emotionally. In times like these, it’s impor tant to identify the charac teristics of fear and chal lenge it
feeling to make better judgment calls and decisions. Let’s start by looking at the facts. What’s causing the market volatility? To put it sim ply: The world did not anticipate the impact (or the advent) of the Russia and Ukraine war. The war has put a chokehold on distribution lines of common resources the world uses every day since Russia is the world’s largest exporter of wheat, pig iron, natu ral gas, and nickel. It also accounts for a significant share of coal, crude oil, and refined aluminum ex ports. Ukraine, on the other hand, is a key exporter of food commodities such as wheat and sunflower seed oil. The stabilization that Central Banks were looking forward to has been hindered by variables it has no control over. In addition, countries like China
Separatedirectly.factsfrom
So human in fact, that on a cellular level, we are bi ologically programmed to panic in times of market volatility. One part of our brain sounds a biological alarm that floods the body with fear signals when we are losing money. It leads to our emotions get ting the best of us – quite literally.
been happening recently, then hey, I hear you. Who wouldn’t be? Let’s be honest with ourselves, it’s painful to watch your portfolio diminish in value. We’re only human.
Finance 23
This will likely put more pressure on food and oil prices and cause further price increases. On the one hand, you have Central Banks raising rates in order to reduce demand, thus reducing the cost of living for their people, but on the other hand, the cost of living is increasing due to factors outside of its monetary policy
market volatility, market corrections, and bear markets are a normal part of investing. Mar kets do tend to go up over time, but they don’t do so in a straight line. The truism “there is no gain without loss” will always hold true in investing.
rallies to reduce exposure and raise cash. Given the failed rally, it is important the retest of the previous lows holds. A break of those lows will confirm the ‘bear market’ is fully engaged.”
rally now adds additional downward pres sure on prices near term. Therefore, from a risk man agement perspective, we continue to suggest using
Finance 24
c) Beware of the cognitive biases that aren’t helping Loss aversion theory states that people experience the pain of loss about twice as strong as the pleasure of a gain. This is a reason why we react so strongly when we experience a financial loss. Another concept called anchoring can be detrimental as well. It’s when investors anchor on the highest value their investment portfolio has reached. For exam ple, if your portfolio was at $100,000 in January, and now it’s $85,000, it probably feels like you’ve lost $15,000. Thinking this way ignores the fact that a year ago you started off with $80,000 and 5 years ago it was $30,000. The value of your portfolio is still up compared to when you first started, and the market will likely rise to new highs in the future. My concern was that the longer the market re mained in a tight trading range, the risk of a failed rally increased. While there was certainly room for the market to break to the upside, the multiple lev els of resistance immediately overhead limited any Theadvance.failed
are coming back online as the government is reducing restrictions and consumer spending on goods and services will soon increase.
Thiscontrol.leaves
Central Banks in the precarious position it is in today, and markets are fearful of the near-term prospects, primarily concerned that the Fed will raise rates too high and cause a recession. Expectations are that in the upcoming Fed meeting, Jerome Powell will raise rates anywhere between 50bps and 75bps in the coming week. So, the above has shed light on why we’re in the position we’re in right now. Read it, or don’t, it doesn’t actually affect your next steps. What you should be primarily concerned with is how to navigate the volatility of the market and what actually helps in this situation. Hold your ground and adopt a big-picture perspective.a)Periodsof
Unfortunately, previous support levels did fail to hold, and the market tumbled this week to new lows for the year as the Fed hiked rates by 0.75%, almost ensuring an economic recession.
b) Remember the lessons from the financial crisis I learned a decade ago that life goes on. Markets recov er. And those who try to time volatile markets often lose out. Investors who kept their heads and their money working during the financial crisis benefitted the most. Apply those lessons now. Don’t panic, stay disciplined, and look for the investment opportunities market lows can present.
With the market completing a head and shoulders stopping the process and violating important sup port at the 38.2% Fibonacci retracement level, the next logical support is 3500. Such a correction would wipe out all the gains since the 2020 peak. Such would also push the S&P 500 index near ly 4-standard deviations below the 50-day moving average. If the market fails to find support at 3500, 3196 becomes the next logical level.
While none of this data guarantees a market bottom is near, history suggests the odds of a reflexive ral ly remain elevated. We also suspect Wall Street will call the “Fed Faff” on aggressive monetary policy sooner than later.
still above the 2020 peak, it is hard to suggest we are in a bear market. But with such deep oversold conditions, one could argue there is potential support for markets near term. However, there are essential differences between the current market environment and the previous corrections. At previous market bottoms, as noted by the vertical red lines above, the Fed was cutting rates to zero, introducing QE programs, or providing other meas ures of monetary liquidity.
With2009.markets
However, the market is currently showing several signals aligned with previous market bottoms. Cur rently, only 2.6% of stocks in the S&P 500 index are trading above their 50-day moving average. Moreo ver, only 12.4% are above their respective 200-dma. As shown, with the market oversold and so many stocks trading below their respective moving aver ages, such typically denotes market lows. Further more, the market selling as of late has been brutal. As noted by BofA: “More than 90% of stocks in the S&P 500 declined today. It’s the 5th time in the past 7 days. Since 1928, there have been exactly 0 prec edents. This is the most overwhelming display of selling in history.”
The entirety of the financial market currently hinges on the Federal Reserve and its monetary policy out look. On Wednesday, the Fed hiked the overnight lending rate by 0.75%, citing inflationary pressures. Jerome Powell decided that a “Fed Faff” was the
Finance 25
As noted, the market remains in a very defined down trend from the January highs. With the market very oversold and pushing 3-standard deviations below the 50-dma, a counter-trend rally within the down trend is likely. However, given the Fed is tightening policy and the risk of an earnings recession is rising, we continue to suggest using rallies to reduce risk. It is not surprising that we are getting many questions inquiring whether we are near the bottom of the cur rent selloff. Picking the bottom of a bear market is always more luck than skill. However, some techni cal signals and supports suggest we may be closer to a bottom than not.
Today that is not the case, as the Fed is just starting
to reduce its balance sheet and hike interest rates aggressively. The reversal of liquidity suggests that any short-term bottom in stocks may not be “the” bottom, particularly as the economy approaches earnings and economic recessions.
One thing to note is that despite the current decline, the markets are still within a correction rather than a bear market. The mainstream media uses an ar bitrary measure of a 20% decline to declare a bear market. However, a bear market occurs when pric es are no longer trending positively but negatively. If we view the market from 2009 to the present, we can denote the market’s bullish trend compared to the current correction. The 3-year moving average has acted as the bullish trend support since the end of the financial crisis. More importantly, the bullish trend remains intact current from the 2009 lows. Notably, the market is currently more oversold (top and bottom panels) than at the lows of March 2020 or
ecosystem now more levered than ever. Over the last decade, the Fed has not had to contend with high inflation making it relatively easy to be more hawkish. However, now, as the market calls the “Fed Faff,” his predicament is much worse. While the Fed may talk a tough game of combating inflation, a recession will take care of that. However, financial instability is a problem that can quickly get out of control with much more significant economic and financial ramifications. Currently, BofA suggests that some 3500 is the point where the Fed pivots to stave off financial instability.
right call to assuage the markets in light of the in crease. While the Fed may not see signs of a broader economic slowdown, almost every measure of ac tivity in the economy is slowing. While the “Fed Faff” seemed to work on Wednesday, Wall Street called the Fed pushing stocks below important support on Thursday. The realization that the more aggressive Fed policy increases recession risk led to one of the largest sell programs since the financial crisis. Last ly, given that valuations remain elevated by histor ical measures, realizing economic recession risks requires further repricing for a coming earnings recession. (Fed rate hikes precede economic slow downs, recessions, and earnings reversions.)
As noted, while the “Fed Faff” tries to convince mar kets Powell & Co. has things under control, the Fed needs time to hike rates and reduce its balance sheet before the next recession. In other words, it is a race against time. The most significant risk to the Federal Reserve is financial stability. Such is par ticularly the case with the entirety of the financial
Finance
As markets remain under pressure, we continue reducing exposure and rebalancing portfolio risks accordingly. There is no easy measure to navigate markets at the moment, but for those who have nev er been through a bear market, this is just part of the process. As we discussed realigning perspective is critical in maintaining control in challenging market environments.
26
Yes, the markets are down 20%+ this year but are still up from the previous 2020 peak. Most investors did not buy the 2020 bottom or sell the 2022 peak. These anchor points provide little perspective for the average investor regarding where they are rela tive to their financial goals. However, these anchors, tied to constant media updates, feed our emotional decision-making processes driven by greed or fear. Those emotionally driven decisions always lead to the worst possible outcomes. I suggest using any rallies to reduce risk and increase cash levels further until the market provides better clarity. There will be
Anchoring is a heuristic revealed by behavioral fi nance that describes the subconscious use of irrel evant information, such as the purchase price of a security, as a fixed reference point (or anchor) for making subsequent decisions about that security. Investors are trained by the financial media to an chor to a fixed point in the market. We measure mar ket performance from the 1st trading day of each year. Or from the peak of an advance.
Finance 27
plenty of time to determine if and when the current bearish cycle is over. We remain pretty confident we are not at that point just yet. We are all going to make bad choices from time to time. The goal is to try and make bad choices that don’t have an out sized effect on our plan. When it comes to dieting, if you eat a burger, order it without cheese and mayon naise. When it comes to your portfolio, if you make speculative bets, do it in smaller sizes. Or, if you are leaning towards panic selling everything, start by selling some but not all of your holdings.
Importantly, keep your market perspective in check and ensure you aren’t anchoring to something that will lead to poor decisions over time. More impor tantly, if you don’t have an investment strategy and discipline you are stringently following, that is an ideal place to begin.
to pay for memes. For example, a user could pay 1 meme token for a piece of content. The creator of the meme token would then receive the payment and be able to use the funds to create more memes. The idea behind this is that users would be incen tivized to create more content because they will be able to profit from their creations.
The concept of meme tokens is very similar to the concept of decentralized finance (DeFi). Both are based on the idea that there are certain types of as sets that can be used to create smart contracts.
Finance 28
In this post, we will take a look at how the concept of meme tokens works on the Ethereum blockchain and explore their potential in the near future.
What Are Meme Tokens?
How Do The Meme Tokens Work?
However, they differ in the way they work. In DeFi, you can use your ether or another cryptocurrency as collateral for creating a smart contract. If it fails, the
Nevertheless, there are still many people who want to share memes, but they don’t have the time or re sources to create them. This is where meme tokens come into play.
A meme token is a digital asset that can be used
How does a meme token work in a decentralized finance system?
The Meme Token: A Decentralized Finance Model for Memes In the past, memes were a popular way to share ideas and information. However, the prolif eration of social media platforms has made it diffi cult to spread memes to a wider audience.
Blockchain is an open-source technology that does not have any centralized control. In this way, it en sures transparency and immutability. It is also se cure as no single point of failure exists.
How do they work?
What is a Smart Contract?
Smart contracts are also known as self-executing contracts. They are self-executing because they can automatically execute once certain conditions are met. The conditions are set by the smart contract
value of your collateral will decrease and the value of the contract will go up. On the other hand, meme tokens work by allowing you to create smart con tracts using memes. Each time you create a new meme token, it will become a part of a set of memes and will be added to the blockchain.
In order to understand it more clearly, we will have to understand the smart contracts. With that being said, let’s dive in and explore what they are.
A simple way to explain the smart contract is that to reffere it toas a piece of code that runs on a block chain. It is an agreement between two or more par ties that is executed automatically when certain conditions are met. That makes it uncontrollable by Foranyone.example,
It is a piece of code that is deployed on the block chain. When a transaction is performed, it is record ed in the blockchain. The code of the smart contract then executes the instructions written in the code. This process is called “Smart Contract Execution”.
words, Smart contracts are the contracts that exist on the blockchain and are programmed to run automatically without any human interven tion. This is achieved by the use of a programming language called Solidity. The contracts are coded in this programming language and then compiled into bytecode. Once the contract is deployed on the blockchain, it runs automatically.
Why do we need them?
This was a simple and brief description of how a meme token works in a decentralized financial sys tem. I hope it would be a useful piece of information for you to understand the working of a meme token.
let’s say you want to make a deal with another party. You can agree on a price for a prod uct or service, and then both of you can send the transaction to the blockchain. The blockchain will execute the transaction, and the product or service will be delivered to the buyer.
The meme tokens in the decentralized financial system are based on smart contracts that run on a blockchain. The blockchain is a database that keeps track of all transactions. All transactions are record ed on a public ledger, which ensures accountability. Smart contracts are applications or scripts that can be written to automate the process of managing money and property. They are programs that run in the blockchain’s network.
A smart contract is a piece of code that can be ac tivated when certain conditions are met. The condi tions are set by the developer and the smart contract will execute the instructions written in the code.
Finance 29
itself.Inother
The contracts can be written in any programming language as long as it is compiled and can run on the Ethereum Virtual Machine (EVM). The smart contracts are not just limited to Ethereum. There are
In the traditional world of a centralized financial sys tem, there are many intermediaries involved in the transfer of money or value. A decentralized system gets rid of all the intermediaries involved in transac tions of values and money.
other blockchains like NEO, EOS, and Cardano which also support smart contracts.
Final Words:
a hospitality course, yet the school is not certified by the rel evant authorities. Note that there are numerous accreditation insti tutions in different jurisdictions. When looking at accreditation, check who issued the license to operate and which courses are
regulators usually maintain a da tabase of schools and their relat ed accreditation.
Accreditation
It will be worthless to go through
Contact with leading industry players can offer useful advice on the hospitality curriculum. Along with checking for hospital ity courses offered, enquire if the school regularly invites industry players to provide presentations or attend classes as expert guest lecturers. Such practices are an enriching experience for both stu dents and faculty.
After settling on a career in the hospitality industry, the first step is to join the right school. Most employers will require you to produce a valid educational cer tificate before landing any job. In most cases, qualification from a reputable school goes a long way in improving your chances of employment. Consider factors like the school’s contact with the industry and students’ employ ability rate. Here are how these factors play out.
check the school’s web site for any mentioned accredita tion. Most schools will have this information on the front page. You can also look at the specif ic pages of schools or depart ments for details on particular programs. In most jurisdictions,
Industry Contacts
Education 30
Simplyoffered.
A Guide to Selecting a Hospitality School
A strong alumni network lasts a lifetime with several opportunities. The school should offer an enabling environment for graduates to build developed alumni associations with chapters worldwide. Joining an alumni association can pay off in significant ways, like networking activities, connecting fresh graduates with established professionals, and helping people pursue different careers. Other alumni groups of fer career support for graduates, which can help professionals shape their career paths and transition into a new field. Remember that some alumni associations come with a fee.
Practicals
Internships
Alumni Network
Endnote
Education 31
Some hospitality schools claim to offer placements and internships after completing your course. How ever, only a handful offer their students placements at reputable hotels. The best hospitality colleges will help their students get placements globally. This way, the students are exposed to the hospitality in dustry on an international level.
While theory is integral to the learning process, practical work will help with understanding while offering real field experience. Check to en sure the practical experience combines basic hospitality skills and overall business subjects, like accounting, finance, marketing, and hu man resources. Practical work will also assist you in gaining useful experience for landing your dream job in the industry. Additionally, the school should have a well-structured internship program with a partner institution.
The key to success in the hospitality industry can narrow down to your school of choice. Graduates from specific schools might be favored by employ ers, especially if their student training is of high quality.
The institution you select should emphasize work-re lated skills and knowledge, which translates to turn ing out graduates who are ready for the employ ment market. A high graduate employment rate is a positive indicator of how a school’s graduates com pete in the general hospitality industry. The school should have a wide range of recruitment partners, both within and outside the hospitality industry.
Employability Rate
Medical tourism allows people to travel to foreign countries to obtain various medical services. Millions of people who want to solve such health issues as on cological, neurosurgical, cardiac, and other disorders look for solu tions overseas. However, it is not easy to arrange the trip yourself. What is the best solution? You can use the free services of reli able medical platforms such as whoofincompanytourismBookimedhttps://us-uk.bookimed.com/.isaNo.1medicalplatformglobally.Thewasfoundedin2014Ukraine,Kyiv.Thecorevaluetheteamistoservepeoplelookforhigh-qualityand
Lifestyle
affordable medical treatment worldwide. More than 500,000 patients have used the Bookimed services, leaving genuine reviews. It is challenging and rewardable to deal with people and help them feel happier and healthier.
clinics to increase the quality of emotional and physical well-be ing of thousands of patients or even save their lives. And what is essential, such companies as Bookimed support Ukrainian economics to help resist Russian terror.
32
The Main Reasons To Try Medical Tourism
Medical tourism grows at a co lossal speed. And Bookimed is one of those who lead it. More than 2,000 doctors have joined the Bookimed startup platform since Russia invaded Ukraine, and it is just the beginning. Con tinue to read this list, where you
Bookimed has proved to be adap tive to rough conditions not only during the pandemia but the war with Russia. Its head office is based in the capital of Ukraine, which is under a permanent at tack by the enemy. The team members continue providing ser vices despite the danger of mis sile strikes. Despite the enormous threat to life, the company’s em ployees find the best doctors and
will find the key reasons to test Bookimed medical service.
Many patients prefer to travel to foreign countries because they want to get access to various medical treatments which aren’t available in their home country. Bookimed medical coordinators can help you arrange the treat ment for the needed procedure as fast as possible.
There is nothing easier than us ing Bookimed services. Check out what you should do to have an excellent experience:
1. Submit your online request on the website.
Bookimed team can help you skip long waiting lists for receiving medical procedures, as it often happens in Europe and the USA. You can get an appointment with a top specialist in the private sec tor without any stress.
7. If you have additional ques tions or requests, you can contact Bookimed Customer Support 24/7.
Bookimed can help you find high-quality medical treatment in various countries according to your budget. You will access the top foreign hospitals catering to the international medical tourism market. You will deal with ad vanced medical facilities, profes sional doctors, and high-quality nurse care. All foreign medical in stitutions partner with Bookimed are internationally recognized and accredited.
Start Your Experience with Bookimed Right Now
Lifestyle 33
5. Study the recommended treat ment program. You are ready to approve the treatment if you are satisfied with the
Accessibility
2. Make sure you specify the health/cosmetic issue clearly.
Cost savings
destination, center, and price.
6. Get your upcoming medical trip assistance with Bookimed.
8. The Bookimed team will fol low the entire medical pro cess to ensure 100% client satisfaction.
Availability
3. Your request will get reviewed by a medical doctor, who will contact you in a short while.
Conclusion
Cost is the main motivator to look for medical treatment abroad. If you do not have access to proper medical insurance in your coun try, you can access affordable healthcare, thanks to Bookimed. You can read numerous stories of patients who succeeded in mak ing impressive savings. Accord ing to Bookimed data, by picking medical treatment in Turkey, you can save 50-65%, Thailand — 5075%, South Korea — 30-45%, or India — 65-90% over options pro vided in the USA or Great Britain.
Quality
4. A Bookimed medical coordi nator will pick the best hospi tal/specialist to deal with your case.
Bookimed is a free medical ser vice that works for the prosperity of both the Ukrainian people and the international community. The medical startup had to face many challenges due to the war. Still, it works hard to support the econ omy of Ukraine and the health of its citizens when they suffer enormously both physically and emotionally, living under the per manent risk of being killed by the Russian army. Such an example of bravery impresses many cli ents and doctors. Now you know where to get the most thorough medical consultation and med ical trip arrangement free of charge.
Managing Director, Wendy Edie. “eCom welcomes work by all or ganizations to promote and ele vate social value in procurement processes as we believe these initiatives can have a lasting im pact on individuals, communities, and the environment.”
COVID-19 Recovery
value themes: COVID-19 Recov ery; Wellbeing; Fighting Climate Change; Equal Opportunity, and Tackling Economic Inequality.”
In a move to bring its corporate responsibility policy into line with the latest social value and sus tainable procurement policies of both the UK and Scottish Govern ments, Scotland’s leading digital learning and assessment spe cialist has published the follow ing statement: “eCom Learning Solutions pursues and promotes the highest standards of corpo rate responsibility and is com mitted to supporting five social
eCom continues to do all it can to aid the recovery of its em ployees and their families and,
“The UK Government’s ‘Social Value Model’ and similar pol icies, including those of the Scottish Government, provide outcomes-based approaches and frameworks for measur ing the social value that is crit ical to achieving desired policy outcomes,” explained eCom’s
Opinion 34
Tackling Economic Inequality
The ‘eCom Academy’ is designed to increase knowledge flow, inno vation, skills development, and diversity in technology fields. This internal academy provides employees with a range of free learning resources encompass ing topics including social and environmental issues, business, leadership, and technical skills.
Fighting climate change
Opinion 35
Social purpose is woven into eCom’s fabric and values. Its vi sion is to help lower the unequal distribution of income and oppor tunity between different groups in society. It’s generating more em ployment and learning and devel opment opportunities, especially for those who face barriers or ob stacles to employment.
Wellbeing
Committed to combating climate change, eCom engages and col laborates with its many stake holders to make a positive, sus tainable environmental impact. This includes minimizing its car bon footprint, investing in renew able energy, and engaging with its people to maximize their col lective impact on climate change and the company’s operations.
eCom’s wellness program, ‘eComLife’ – available to all em ployees – is geared towards encouraging health and vitality, maintaining the quality of life, and providing a positive working and living environment in which people can thrive. Community cohesion, which lies at the heart of what makes communities safe and strong, must be delivered by creating strong community net works based on the principles of trust and respect for diversity, and nurturing a sense of belong ing and confidence in people and the communities in which they work and live. eCom’s commit ment to working with small, di verse, high-quality suppliers is also an important aspect of its business.
eCom ensures its products and services use the least amount of electricity possible, while still en suring reliability. Its headquarters uses the power that is fully re newable, and it aims to minimize water usage in its buildings and vehicles. It’s also committed to using recycled or upcycled goods as well as environmentally safe cleaning products. To further measure and assess its carbon footprint, eCom has signed up to Pawprint, an employee engage ment tool that harnesses energy to fight climate change.
by extension, local communities, businesses, and economies. This includes providing employment opportunities; up-skilling and re-skilling its workforce; imple menting return-to-work and hy brid working policies; continuing its community engagement and support efforts; developing and implementing new ways of work ing, and supporting the health and needs of those affected by the pandemic. eCom also has online communication and col laboration capabilities to help ensure and maintain business continuity – to help everyone stay safe while, simultaneously, continuing to serve its clients in a responsible and reliable way.
eCom believes that both suc cess and innovation begin with inclusion. It strives to build a workplace where everyone un derstands the important relation ship between health, work, and disability. It also believes all work should be fair and decent – and everyone, regardless of where they live or the sector in which they work, should be able to ben efit from high-quality jobs and op portunities to advance their own
Equal opportunity
careers and lives. This includes both a commitment to not using zero-hour contracts and a com mitment to pay Living Wages. eCom is also committed to cre ating accessible technologies and products that contribute to its employees’ productivity and with which its customers, and their audiences, engage. eCom understands and emphasizes the need for its products to be usable by disabled and disadvantaged audiences.
Opinion 38
Estimated at USD 9.8 billion, South Africa’s informal retail sector represents a substantial portion of the total retail market and a third of the country’s FMCG market. Home to millions of busi nesses, from entrepreneurs and micro, small and medium enter prises (MSMEs) to large whole salers, it has historically been overlooked by the SA banking Insightssector. from FirstRand reveal a sizeable untapped market, with many cash-only wholesalers achieving turnovers as high as R40 million per month, and even
trade show SAITEX, and in part nership with key stakeholders such as the Township Econo my Chamber of Commerce and Industries in Africa (TECCIA), Banking Association South Africa (BASA) and SMME Chamber of Commerce, we have developed an initiative to drive development, trade and inclusive growth in Southern Africa’s townships and informal economy by providing buyers and sellers with opportuni ties to access the township econ omy through workshop content, features, speakers and exhibiting opportunities,” says Schiff.
How to Unlock Opportunities in the Township Economy
small township shops turning over around R2 million per year. Portfolio Director of Food, Hos pitality and Trade at dmg events, Evan Schiff, agrees that the town ship economy is clearly a huge opportunity for both manufac turers and importers of food and FMCG goods. This is why it plays a prominent role at leading food and beverage trade show Africa’s Big 7, taking place between 19 and 21 June 2022 at the Gallagh er Convention Centre in Johan “Co-locatednesburg. with the continent’s most-established multi-sectoral
In order for the township econo my to succeed as a driver of eco nomic development and job cre ation, Schiff says it is important that the challenges faced by the informal sector are collectively recognised and addressed.
“By visiting Africa’s Big 7, buyers will get direct access to manufac turers, opening them to new op portunities in the township econ omy markets, and enabling them to engage with Southern African stakeholders and grow their busi nesses,” concludes Schiff.
mation for women in trade, as well as a masterclass on re-es tablishing one’s business. In addition to the Township Econ omy workshops, Africa’s Big 7 general workshop programme will be equally packed withav ibrant mix of learning, devel opment and in-depth industry debate from a range of leading thought leaders across the retail ready food and beverage sector. Consultant Kiba Bam, one of Africa’s Big 7’s impressive ad visory board, will be running a free workshop on what retailers want, offering latest trends and key issues impacting the sector, as well as sharing insights on the latest innovation, creativity and knowledge to drive the food and beverage community forward.
Opinion 39
Over a series of free, collabora tive workshops, visitors will learn valuable insights and gain a bet ter understanding in areas such as SMME access to finance, new market opportunities, transfor
Event knowledge partner Euro monitor lists the sector’s prima ry difficulties as: low bargaining power from suppliers due to the fragmented nature of informal trades, poor access to financial support, as well as aggressive competition due to relatively low barriers of entry.
With Dawood onboard as spon sors of registration, badge and lanyard, Schiff says the 2022 edi tion will no doubt be the platform to engage on topics such as rede fining the food and beverage val ue-chain and creating affordable and accessible food in Africa.
Opinion 40
Opinion 41
There is a need to create a social media platform to promote any business effectively or help increase its sales in today’s market. The goal is to find social media platforms that are most appealing and inter esting to one’s target audience and help increase brand awareness and sales across the globe.
Drive targeted traffic to your business’s website and increase sales by driving targeted traffic. Using so cial media platforms, you can advertise your prod ucts or services and have them placed on relevant or interesting Facebook or Instagram pages or groups dedicated to a particular industry. This will allow you to reach a potential audience who might need your product or service in the first place.
Expand your brand’s reach across the globe
When you use video content created using a high-quality video maker for advertising your busi ness, people might be more willing to check out what you offer and will trust your brand even more than some random advertisements they see on oth er websites and mobile apps.
Thousands of online users are willing to check out any new business or product introduced in the market.
The first step to promoting a business is setting up a business account on one or more social media plat forms. These accounts can attract more followers and customers, which means more people who are about to be exposed to your brand for the first time.
Withsites.social
Use a video maker to create content and publish on these accounts to promote your offers daily to have more exposure and increase your brand awareness
Having a website is a bonus in this process because
There are thousands of them to choose from when it comes to social media platforms. Each platform has its unique features and audience to help pro mote a business or business-related products and services. The best way to promote your business is by finding the most relevant platforms for your busi ness and its audience.
media sites, you can easily control the content posted on these sites. If you find new types of content or offers which can attract more custom ers, publish them on various social media platforms so that your brand can reach out to new groups of people who may not have heard about your busi ness before.
There are various ways in which social media plat forms can help increase the sales of any business; some are listed below:
02
Drive targeted traffic to any website
You can post links to it on various social media pag es if you have a business website. People who visit these pages will be more likely to click on your web site from the reports and reviews.
01
through various media outlets, especially social me dia
One of the best things about social media platforms is that almost every person who has an internet con nection can access them in one way or another. This means that your brand will be available to everyone around the globe if you use these types of platforms to promote your business.
it will give some level of credibility and authority to your business and increase its sales through search engine optimization (SEO) strategies.
potential customers can find information about your store or service.
Anysales.business
Ifcustomers.youusea video maker to create creative, fun, and interesting content for your target audience, it will create a huge impact on your brand.
needs to have a brand identity through social media platforms in the current market. If you have an online business and run it from the comfort of your home, a website and social media accounts are important aspects of your business branding and identity.
Social media platforms also help expand your reach to a global audience and make new connections with people in your target audience or similar industry. New Leads
Any brand needs to have loyal customers if they want them to refer their friends and family members towards their brand and make new purchases from their store or follow them on social media pages. The best way to make any brand or company suc cessful is to increase the level of engagement of its
If you have a business, it needs to have an online presence, especially on social media pages where
It is always important for a brand to be emotionally connected with one’s audience and satisfy its needs and wants to have a loyal customer base.
If you can increase the number of followers who like and comment on your pages and groups, it will in crease the chances of your business appearing in search results and increase their relevance on the platform. You can also gain new customers as well as
Opinion 42
03 Increases Engagement 05 Brand Awareness 04 Generates
All you have to do is make sure that people will find your website and social media accounts when look ing for related products or services.
Any customer is likely to refer to a product or service from a brand that has made them happy and satis fied within the due course of experience.
Opinion 43
a small or large business, you need to engage with customers on social media platforms to get more exposure and reach out to potential cus tomers who might not have heard about your busi ness before.
It is important for any business out there to keep track of how their customers perceive them and
Social media platforms help businesses easily share their content with new people and provide a platform for companies to engage with customers directly. They are key marketing channels for any business that wants to establish its brand in the
Social media platforms also allow you to upload photos of your online shop or service, which helps build a positive image of your brand and reach out to potential customers.
how satisfied they are with their products or servic es to make new changes if necessary and improve themselves in the long run.
Social media platforms allow people to be more connected, express their thoughts and get to know other people from different parts of the world. They also help build a loyal customer base for a business.
Social media platforms like Facebook, Twitter, and Instagram can help increase customer satisfaction. The more trust your business has built with your customers, the more likely they are to visit your store, talk about it and ask their friends to try it.
Customer Satisfaction
Ifmarket.youhave
06
You can make money in the metaverse in many ways, such as:
Opinion 44
The sky’s the limit for savvy marketers on the block as big brands like Nike, Facebook, and Gucci continue to position themselves into the present Metaverse, employing gaming platforms like Fortnite and Ro boblox to produce immersive forms of advertising and new forms of viral brand awareness. So, how do you make money?
How to use Metaverse for Marketing and making Money?
Companies can use Metaverse to attract new audi ences, boost consumer confidence, and investigate a potential revenue stream. For example, Roboblox boasts 200 million active players who spent $319 million on in-game cash in the first half of 2020.
The Metaverse creation has seen the rise of a cat egory of games known as play to earn that enables users to play games and get rewarded with crypto. The rise of this category has been remarkable and is expected to become as popular, if not more popular, tha traditional gaming.
activities are genuinely incredible, from working in virtual offices to relaxing in the blockchain-based game and managing their crypto funds and portfolio.
Gaming
Theheadsets.metaverse
The recent COVID-19 pandemic saw the global digital dependency rise to unprecedented heights, thereby fundamentally changing consumer behav ior. This means a more significant percentage of consumers started working, learning, playing, and shopping online.
Future Impact of the Metaverse on Marketing
The rise of the metaverse is sure to lead to the crea tion of new marketing techniques and opportunities
The metaverse is a virtual place that is real-time, realistic, and – in many circumstances – intercon nected, where one can undertake any real-world ac tivity virtually in a 3D space. When you think about it, the potential for monetization of such a world is It’sunlimited.ahybrid
to explore the 3D virtual world. The Metaverse is a nexus of markets, decentralized government, digital identities, and other elements.
of augmented reality, virtual reality, and blockchain technology. Users can take advantage of ultra-fast bandwidth, the internet, and virtual reality
Real Estate in the Metaverse
Companies and individuals can also open art galler ies to display their art in the metaverse.
VR Games
The recent pandemic made it very difficult to host live physical events. Still, with metaverse, artists and companies can host massive audiences in the virtu al world, while event organizers can sell tickets for the event.
Like the real world, the metaverse allows users to buy and sell properties, opening up a new frontier for real estate in the 3D space.
One of the best ways to take advantage of the metaverse is to incorporate your virtual market ing with your real-life marketing. This means you can replicate what you offer in the real world in the metaverse. The same has proven to be an authentic way to further interact with your consumers.
The COVID-19 pandemic saw the meteoric rise of online shopping, with more and more consumers preferring to shop online. With the metaverse, busi nesses can immerse themself in the virtual world to make shopping more accessible and interactive for their consumers. Companies can sell items like NFTs (for digital art) and wearables(for avatars).
Live Events
meteoric, with companies also joining the fray and creating digital collectibles for their consumers.
Incorporating Real Life Marketing with your Metaverse Marketing
Art Creation
Companies like Fortnite quickly jumped on the metaverse train to bring their players VR games. And they have never regretted it. So creating and monetizing VR games is one of the best ways to make money in the metaverse.
The rise of NFTs has made it very easy for artists (primarily digital artists) to make money from their art. The increase of NFTs has been nothing but
Even architects are not left behind in this amazing opportunity. Architects and designers can create and design 3D structures for users in the metaverse and get paid.
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Virtual Shopping
Design and Architecture
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partner with a global sensation in the turntables sector. Since its establishment, Pro-Ject has been producing solutions that not only sound fantastic but are also beautifully designed to suit retro and modern lifestyles. As an organization, we have grown from strength to strength to be come the biggest record player distributor in the region. We are confident that this partnership with Pro-Ject will not only help us accelerate our business further, but also encourage established hobbyists and plain music lovers to experience a whole different genre of music.”
Qualia Electronic Trading, a lead ing distributor of a wide variety of wearables, gadgets, and audio products throughout the Mid dle East and North Africa region has partnered with Pro-Ject Au dio Systems, the leading turnta ble manufacturer in the world to distribute high-quality, premium turntables at relatively affordable
experience. It will distribute ProJect’s turntables to retailers in the UAE such as Virgin Megas tores and more.
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Qualia added that it will be dis tributing a comprehensive range of Pro-Ject’s turntables in the region to offer the best analog
Technology
Shirin Asadi, General Manager of Qualia stated: “We are pleased to
The firm will also distribute prod ucts to Bahrain, Jordan, Kuwait, Oman, and Qatar in the Middle East. Pro-Ject claimed that they utilize the best components and manufactures its hand made goods solely in Europe. With cutting-edge technologies and machines, it creates visual ly pleasing products, which are shipped to more than 80 coun tries worldwide.
Qualia & Pro-Ject Audio Systems partnership offers premium turntables in the region
sources added that es tablished in 2014, Qualia is an allwomen-led team across varied levels of the organization. With over 1500+ products under its umbrella, Qualia serves over 20+ clients and is available across 35+ stores in the region.
Industryprices.
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on the collabora tion, Ola Mourad, Academic Co ordinator, the Al Sahafa Interna tional School, Riyadh, stated, “We are very excited to see the STEM exposure our students got through the TCS goIT program. They really impressed us with their enthusiasm and willing ness to learn. I think programs like this are extremely important in showing students how they can succeed in a range of fields, with a good grounding in IT.”
that it has currently joined forces with Al Sahafa In ternational School, Riyadh, and has trained 106 students. Under the theme of the UN SDGs, stu dents ideated solutions for good health and wellbeing, affordable and clean energy, and zero hun
Industry sources claimed that this program has benefitted over 100,000 students across 38 na tions around the globe since its inception in 2009. First, the TCS goIT program was conducted in Arabic to suit local schools across the Middle East. Technology
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that this career-guided program is focused primarily on demystifying computer science and assisting students in gaining the skills and confidence required to pursue STEM careers, and TCS claims that its goIT program is an experiential, immersive program that gives young people access to hands-on technology educa tion and design challenges.
Leah, Grade 7 student, at the Al Sahafa International School, shares her experience, “I am su per happy to have had the oppor tunity to get involved in the design thinking program. The mobile app training is cool and I am proud of my project on improving world health by using technology.”
would help people make and re ceive Sumantadonations.Roy,
ger. For an illustration: – Grade 7 students researched, ideated, and prototyped a mobile solution called ‘Team Earth’ that displays the location of the nearest renew able energy outlets and finds an environmental, social, and gov ernance volunteer. Meanwhile, Grade 5 students pitched a tech nology solution to solve world hunger by creating an app that would act as a digital aggrega tor. Called ‘Free Supermarket’, it
VP & Regional Head, Middle East & Africa, TCS (pictured above)stated: “To be competitive in the digital econo my of the future, every commu nity has to invest in developing its human capital and creating a digitally-capable workforce. We have been partnering with lo cal communities for the past 13 years to spark interest in IT and technology among young people. After the huge success of goIT
in other parts of the world, we introduced this program in the Kingdom so students can learn from TCS’ skilled technology pro fessionals and flex their IT skills. We look forward to expanding the program to more schools in Sau di Commentingsoon.”
Tata Consultancy Services (TCS) has recently unveiled its digital innovation and career readiness program – goIT – in Riyadh, Sau di TCSArabia.added
TCS explained further that it familiarizes students to design thinking and digital technolo gies to develop and prototype solutions that improve their own communities or support the United Nations’ Sustainable Development Goals (SDGs). The engaging curriculum includes innovation lifecycle, product pro totyping, and industry-relevant entrepreneurial skills. Under the program, TCS employees men tor students and provide industry context and real-world connec
TCStions.added
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Energy Dome added that the in itial phase of the operations has
confirmed the performance of the CO2 battery as well as its long-term energy storage capac ities, while guaranteeing a high ly competitive cyclic efficiency, without degradation or depend ency on any site whatsoever.
Energy Dome claimed that its CO2 batteries can be swiftly deployed anywhere globally in less than half the price of similarly sized lithium-ion battery storage facil ities. Additionally, Energy Dome utilizes readily available materi als like carbon dioxide, steel, and water. The firm is now preparing to open its full-fledged plant with a capacity of 20 MW/200 MWh. Its first commercial project,
Energy Dome claimed that the Sardinian demonstration plant project has got the effectiveness of this innovative process using standard equipment available from an established global sup ply chain, showing that the rapid international deployment of the CO2 battery is now possible with out any blockage.
This milestone tells us that the final risks of CO2 battery tech nology have been staved off, as Energy Dome enters its commer cial scale-up phase and becomes the provider of the world’s first long-duration energy storage technology. market by offering a reliable alternative to fossil fuels within the framework of basic electricity production that can be dispatched internationally.
Energy Dome Founder and CEO Claudio Spadacini stated: “I am proud of our dedicated team and
our results. We are now in a po sition to provide a solution to the most pressing issue of our time, which is climate change. Our breakthrough technology, the CO2 battery, is now commercially available to cost-effectively gen erate dispatchable renewable en ergy on a global scale.”
Energy Dome, a leading provider of utility-scale long-term ener gy storage capacity, today an nounced the successful launch of its first CO2 battery power plant on the Italian island of Sardinia.
Further, the firm stated that it had begun its operations in February 2020 and went from concept to full multi-megawatt scale testing in just over two years. To accom plish this, the firm has called on the skills of a team of experts in turbomachinery, process en gineering, and energy produc tion-proven projects for the
Dome’s plan is backed by investors including Europe an deeptech venture capital firm 360 Capital, as well as Barclays, Novum Capital Partners, and Third Derivative. Energy Dome added that for financing this rap id commercial-scale deployment, Energy Dome plans to organize a series B fundraising, seeking potential investors interested in its revolutionary energy storage technology.
design of turbines of a new type at the base energy projects with a capacity of more than 500 MW.
Energy2023.
Commercial Operation Date, is expected to roll out by the end of
construction of a first power plant with a capacity of 20 MW/5 MWh. Earlier in the year, Energy Dome also signed a non-exclusive li cense agreement with Ansaldo Energia, the major component and power plant builder, with the aim of implementing long-term energy storage projects in Italy, Germany, and the Middle East, and Africa.
This successful launch is also partly due to the unique nature of Energy Dome’s process, which integrates already known com ponents into a new industrial process based on the thermody namic transformation of CO2.
The firm stated that it has al ready concluded several com mercial agreements, in particular with the Italian group A2A, for the
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Batelco unveils Cloud ERP (Enterprise Resource Planning), a comprehensive enterprise-oriented cloud software solution for companies to meet all their business management needs in a single product offering. The solution is being delivered ex clusively in Bahrain by Batelco in partnership with CorporateStack, a leading provider of software solu tions specializing in digital transformation, following the signing of an agreement on the opening day of BITEX & Meet ICT 2022.
Cloud ERP empowers the integrated management of commonly used business processes by seam lessly combining HRMS, for payroll management and attendance tracking, CRM, to give visibility and
‘Cloud ERP’
Batelco, Corporatestack alliance unveils business management solutions
management of sales figures, and Asset Manage ment software, to manage, track and maintain com pany Cloudassets.ERPempowers
businesses to improve pro ductivity while streamlining operations by central izing key business processes through their cloudbased Batelco’ssoftware.General
Manager of Enterprise, Abdulla Danesh, stated, “Batelco is committed to providing innovative digital solutions to support the evolving needs of the enterprise sector and was delighted to sign an exclusive partnership with CorporateStack to support the Company’s goals. We introduced
Batelco’s General Manager of Enterprise Abdulla Danesh
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added stating: “Batelco recognizes the vi tal role the enterprise sector plays in the Kingdom’s economy, and we strive to develop and deliver curat ed solutions that support the growth and efficiency of local businesses.”
explained: “The Cloud ERP solution pro vides businesses in Bahrain with the opportunity to upgrade their business processes conveniently and efficiently. To ensure we accommodate the specif ic requirements of each business, we can discuss their needs and customize the product accordingly
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Eng. Mohammed Abdin Co-Founder, and CCO CorporateStackof
We are pleased to be collaborating with Batelco, the leading digital solutions provider in Bahrain. We look forward to building a rapport in the Kingdom’s market as the country witnesses a dynamic digital transformation journey
Cloud ERP to enable businesses to efficiently man age their day-to-day operations, reduce costs, and maximize revenues through smart digitized solu Hetions.”further
so that ultimately a business can log in to a single platform to manage all their key internal operational Hefunctions.”further
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Stringent emissions norms and prioritizing envi ronmental protection are becoming major driving forces behind technological solutions to develop emissions protocols. However, the pace of emis sions reduction is not enough to meet the goals set by the Paris Agreement: net-zero carbon dioxide emissions between 2044 and 2052. To meet these ambitious targets, a significant amount of renew able energy infrastructure must be installed and
technologies can contribute to the above-mentioned renewable energy mix and industrial decarbonization requirements. Hydrogen is gaining interest as a necessary part of the future
integrated into the existing power grid. Additionally, carbon-intensive sectors such as steel, chemicals, transportation and manufacturing must undergo deep Hydrogendecarbonization.andfuel-cell
clean energy ecosystem due to its high energy con tent (almost three times more energy content than natural gas per kg), easy production, storage and negligible emissions on utilization. Further, hydro gen has a wide range of other significant features: it is a clean and safe energy carrier, it can be used as feedstock for power and industry, and it can be used for generating heat and electricity.
As per the IEA net-zero roadmap, electrolyzer capac ity is required to reach 3,000 GW by 2045 compared to 0.3 GW in 2020 to remain on track with emissions reduction targets as set by the Paris Agreement. In
Out of the total annual global hydrogen production, over 20% is produced from coal and 75% from natu ral gas, which is called grey hydrogen. Although hy drogen consumption is carbon-free, grey hydrogen production is a carbon-intensive process. Hence, industry participants are investing in blue hydrogen, i.e., producing hydrogen from steam methane re forming (SMR) in conjunction with carbon capture and storage (CCS). Currently, blue Hydrogen is the intermediary solution to carbon mitigation and has the potential to reduce emissions by up to 90%.
Sea water electrolysis has the potential to be a game-changer for the green hydrogen ecosystem
Blue and green hydrogen production will be necessary to achieve decarbonization in the hydrogen value chain
Technologies such as SOEC, PEM, and alkaline electrolysis drive the growth of green hydrogen production
Solid oxide electrolyzer cells (SOEC) technology is the most recent development in electrolyzer tech nology. SOEC uses ceramic electrolytes and steam for electrolysis instead of water. Consequently, the system requires additional heat to convert water into steam, presenting unique utilization opportunities, such as pairing with industrial waste heat streams and geothermal and solar thermal systems.
The cost of producing green hydrogen ranges be tween $4-$6/kg. However, to reach price parity with the traditionally used hydrocarbon-based energy sources, green hydrogen production costs need to be below $1/kg. To reduce costs, there are two paths: technological advancements of electrolyzer technologies for cost-effectiveness and operational efficiency; and less expensive sources of water pro curement such as seawater, which is significantly more available than freshwater. The saline content of seawater, however, presents a challenge. Re searchers at Stanford University have proven that by coating anode with layers rich in negative charg es, it is possible to electrolyze seawater without the risk of chlorine corroding the anodes. Electrolyzing seawater is possible; however, pilot-phase testing is ongoing, and commercialization is expected within three to five years.
As the cost of renewable electricity has consistently decreased over the past few years, primarily wind and solar, the idea of producing hydrogen via elec trolysis has gained ground in the industry. The pro cess of producing hydrogen via electrolysis utilizing renewable electricity—green hydrogen production— is gaining attention from policymakers and relevant stakeholders.
the current water electrolysis infrastructure, alkaline electrolyzers are the most mature and widely de ployed technology because they do not require pre cious metals and consequently have a lower capital cost. Proton exchange membrane (PEM) electro lyzers are another important technology segment. They have unique advantages such as a small size, compressed hydrogen production, and the ability to provide grid services. However, expensive materials such as iridium and platinum in catalysts drive up the PEM electrolyzer’s cost.
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Hydrogen blending in natural gas, ammonia and liquid hydrogen carriers emerges as a solution to efficient hydrogen storage, transport, and utilization
High-performance fuel cells enable hydrogen utilization across multiple industrial segments
Fuel cells provide an efficient pathway for convert ing chemical energy directly into electrical energy. Proton-exchange membrane fuel cell (PEMFC) and solid oxide fuel cell (SOFC) technologies have the potential to revolutionize the energy sector by pro viding a cost-effective and sustainable method of energy generation. In addition to utilizing pure hy drogen, fuel cell technologies can also cost-effec tively use hydrocarbon-based fuels (methanol or LCVGs with methane content less than 20%) for en ergy production, with water, carbon dioxide, and car bon monoxide end products. Fuel cells will be one of the key components of the hydrogen economy. Fuel cells are expected to gain significant market share in stationary energy storage as well as transpor tation, especially in the heavy-duty segment. This could also lead to possible changes in internal com bustion engines in vehicles, generate substitutes for fossil fuels in industrial heating, and enable a clean energy generation mechanism for utilities. High-per formance fuel-cell developers must balance perfor mance, cost, efficiency, heat rejection, lifespan, resil ience, recyclability, cost-effective manufacturability, adherence to codes and standards, and freeze start capabilities. One of the most cost-determining parts of fuel cells is the catalyst. It is important to develop technologies such as PEMFC, SOFC, and an alkaline anion exchange membrane fuel cell (AEMFC) with a platinum group metal (PGM)-free catalyst with high er performance and durability. Low-PGM or PGMfree catalysts will drastically reduce fuel-cell costs and make them much more cost-competitive with advanced battery technologies and fossil fuel-driv en systems.
The hydrogen technology value chain is quite com plex: cost-effective hydrogen production requires resilient and dependable hydrogen storage and transportation infrastructure and end users with constant demand. In the short term, green hydrogen production plants will be built near end users that require minimal infrastructure upgrades to integrate hydrogen as a fuel: steel producers, chemical manu facturers, fertilizer manufacturers (green ammonia), electric utilities, and oil refiners. Ammonia produc tion using green hydrogen, or green ammonia, can be directly used in the agriculture industry. Identi fying this potential application of green hydrogen, economies across the globe have deployed 8 metric tons of green hydrogen to green ammonia produc tion capacity.
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One of the emerging methodologies of hydrogen transportation is blending hydrogen with natural gas. This technique circumvents the requirement of constructing new infrastructure. However, the max imum blending limit of hydrogen with natural gas is 6%, as higher hydrogen blending can degrade the pipelines due to a high reactivity of hydrogen. An other solution for hydrogen transportation is trans porting hydrogen in the form of ammonia or liquid hydrogen carriers (LOHC). Both ammonia and LOHC are especially suitable for transportation over 1,500 km. However, they need reconversion into hydrogen at the point of use, and this cost must be balanced with cost savings in transportation.
According to the IEA, if climate goals are to be achieved by 2050, low-carbon hydrogen production must reach 520 million tons, from less than a mil lion tons in 2020. There are positive signs in this re gard, as several countries have announced funding and policies dedicated to promoting the hydrogen economy. Industries and economies across the world are consistently promoting and incentivizing research and development efforts along the hydro gen technology value chain for improvements in cost and performance. Hydrogen as a clean-burning fuel has the potential to be a key enabler of global low-carbon transition because it offers sustainable and flexible alternatives to carbon-intensive fuels.
Hydrogen has a wide variety of present and poten tial end uses. In addition to the above-mentioned applications of power, heat, electricity, and industry utilization, another prominent application is elec tric mobility. Fuel cell-based electric vehicles are increasingly being adopted across the globe, effec tively competing with battery electric vehicles. As of 2021, there were over 34,000 FCEVs on the road, while there were over 12 million BEVs.
acid fuel cells (PAFC), solid oxide fuel cells (SOFC), and molten carbonate fuel cells (MCFC) are current ly available technologies that can be deployed for stationary power applications. PEMFC, with a low operating temperature and fast start-up, are espe cially suitable for domestic scale microgeneration. PAFC suitableandcells,peraturetions.heatingspaceforcan1800C,heatelectricityproducesandofnearlywhichbeutilizeddomesticandwaterapplicaHigh-temfueli.e.,SOFCMCFC,areforgrid-scale
power supply and can oper ate on other hydrocarbon feedstocks.
Other hydrogen applications include power genera tion and domestic heating, although its use in these domains is low and has constraints. Polymer elec trolyte membrane fuel cells (PEMFC), phosphoric
Mobility, oil & gas and chemical sectors offer the largest opportunity for green hydrogen integration
The industrial sector is the largest consumer of hy drogen, with oil refining, ammonia production, meth anol production and steel production accounting for most of the hydrogen demand. The true impact of the decarbonization potential of hydrogen will be seen in these industries. Today, a majority of the hydrogen consumed by the industrial sector is gray hydrogen, presenting opportunities for decarboniza tion by using blue/green hydrogen.
TechVision, Frost & Sullivan
Shrinivas Tukdeo Research Director
The key challenge hindering the wide-scale adop tion of FCEVs is the cost of onboard hydrogen storage and fuel cells. Fuel-cell pricing at $50/kW can make FCEVs competitive with battery electric vehicles for a 400 km-range car. However, a typical fuel cell costs about $240/kW. Hence, stakeholders are working toward technology advancements and scaled-up production to reduce costs. FCEVs are also receiving regulatory support through subsidies and incentives for refueling infrastructure.
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