#role of central bank in developing economy

[writers-potion]

I'm writing a sci-fi story about a space freight hauler with a heavy focus on the economy. Any tips for writing a complex fictional economy and all of it's intricacies and inner-workings?

Constructing a Fictional Economy

The economy is all about: How is the limited financial/natural/human resources distributed between various parties?

So, the most important question you should be able to answer are:

Who are the "have"s and "have-not"s?

What's "expensive" and what's "commonplace"?

What are the rules(laws, taxes, trade) of this game?

Building Blocks of the Economic System

Type of economic system. Even if your fictional economy is made up, it will need to be based on the existing systems: capitalism, socialism, mixed economies, feudalism, barter, etc.

Currency and monetary systems: the currency can be in various forms like gols, silver, digital, fiat, other commodity, etc. Estalish a central bank (or equivalent) responsible for monetary policy

Exchange rates

Inflation

Domestic and International trade: Trade policies and treaties. Transportation, communication infrastructure

Labour and employment: labor force trends, employment opportunities, workers rights. Consider the role of education, training and skill development in the labour market

The government's role: Fiscal policy(tax rate?), market regulation, social welfare, pension plans, etc.

Impact of Technology: Examine the role of tech in productivity, automation and job displacement. How does the digital economy and e-commerce shape the world?

Economic history: what are some historical events (like The Great Depresion and the 2008 Housing Crisis) that left lasting impacts on the psychologial workings of your economy?

For a comprehensive economic system, you'll need to consider ideally all of the above. However, depending on the characteristics of your country, you will need to concentrate on some more than others. i.e. a country heavily dependent on exports will care a lot more about the exchange rate and how to keep it stable.

For Fantasy Economies:

Social status: The haves and have-nots in fantasy world will be much more clear-cut, often with little room for movement up and down the socioeconoic ladder.

Scaricity. What is a resource that is hard to come by?

Geographical Characteristics: The setting will play a huge role in deciding what your country has and doesn't. Mountains and seas will determine time and cost of trade. Climatic conditions will determine shelf life of food items.

Impact of Magic: Magic can determine the cost of obtaining certain commodities. How does teleportation magic impact trade?

For Sci-Fi Economies Related to Space Exploration

Thankfully, space exploitation is slowly becoming a reality, we can now identify the factors we'll need to consider:

Economics of space waste: How large is the space waste problem? Is it recycled or resold? Any regulations about disposing of space wste?

New Energy: Is there any new clean energy? Is energy scarce?

Investors: Who/which country are the giants of space travel?

Ownership: Who "owns" space? How do you draw the borders between territories in space?

New class of workers: How are people working in space treated? Skilled or unskilled?

Relationship between space and Earth: Are resources mined in space and brought back to Earth, or is there a plan to live in space permanently?

What are some new professional niches?

What's the military implication of space exploitation? What new weapons, networks and spying techniques?

Also, consider:

Impact of space travel on food security, gender equality, racial equality

Impact of space travel on education.

Impact of space travel on the entertainment industry. Perhaps shooting monters in space isn't just a virtual thing anymore?

What are some indsutries that decline due to space travel?

I suggest reading up the Economic Impact Report from NASA, and futuristic reports from business consultants like McKinsey.

If space exploitation is a relatiely new technology that not everyone has access to, the workings of the economy will be skewed to benefit large investors and tech giants. As more regulations appear and prices go down, it will be further be integrated into the various industries, eventually becoming a new style of living.

[zvaigzdelasas]

The Communist Party’s main theoretical journal has laid out a new ideological framework for the financial system that emphasizes the primacy of China’s top leader and Marxist principles. [...]

The Communist Party issued a detailed ideological statement on Friday in Qiushi, the party’s main official theoretical journal, that made clear that it expected banks, pension funds, insurers and other financial organizations in China to follow Marxist principles [...]

The Qiushi paper, which was being closely studied by bankers and economists in China, could cut against efforts by Beijing to show that the economy is open to investment even as it places a heavier hand on business.

Barry Naughton, an economist at the University of California at San Diego who has long studied China’s transition to a market economy, said that the document signaled that the finance sector would be subject to ever-tighter oversight and forced to serve government policies more actively.

“The financial sector will not be expected to push for market-oriented reforms or even necessarily maximize profit,” he said. “As a program for the financial sector, it is ambitious, disappointing and somewhat ominous.”[...]

“Politics will for sure further dictate China’s finance, effectively moving China even closer to how it was before the reforms started in 1978,” said Chen Zhiwu, a finance professor at the University of Hong Kong.

Some of the policy targets set forth in the essay would not be unusual as regulatory goals in the West. For example, it calls for banks to emphasize financial services for the “real economy,” which the party has long interpreted to include ample financing for the country’s industrial base.

But it also calls for a strong role in finance for [...] Marxist ideology generally. That follows a pattern that emerged for other sectors during the national congress of China’s Communist Party a year ago, but has been less apparent in finance — until now. [...]

Moody’s, the credit rating agency, announced on Tuesday that it was lowering its credit outlook for the Chinese government to negative. It had previously assigned a stable outlook for the country’s credit rating, which remains at A1, near the top of the ratings scale. [...]

Qiushi is the main journal providing pronouncements on China’s current ideology, which is known as Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era. The statement on Friday said that Mr. Xi’s speech to the financial conference, “is a valuable ideological crystallization formed by our party’s unremitting exploration of the path of financial development with Chinese characteristics.” [...]

“Politics affects all important areas, and economic or financial issues are themselves political issues,” he said. Indeed, Communist Party control over finance comes up repeatedly in the Qiushi statement. “We must unswervingly adhere to the centralized and unified leadership of the party Central Committee over financial work, uphold and strengthen the party’s overall leadership over financial work,” it said.

5 Dec 23

[sourcreammachine]

GREEN PARTY MANIFESTO 2024 SUMMARY

tldr: there's a feeling of tension in this manifesto, between youthful zennial climatic ecosocialism and old-guard hippy-liberal environmentalism. this year the greens may well go from 1 MP to the dizzying heights of 2 (there's whispers on the wind that they may even get 3...), and the green council delegation is at 800-odd now, so this could easily be a changing-of-the-guard moment

with the great Berry and the ok Denyer in parliament the party could have more momentum in battling the starmerite government, and with that, it has the ability, the possibility to pick up more momentum. this is a big opportunity in the party's history - over the next five years it can and could be pushed into a holistic ecosocialist movement by the centrally influential mass party membership, and remove the last dregs of its tunnel vision to provide a lefty movement for everyone, green and pink, a Newfoundland coalition. with votes at 16 on the cards and this potential evolution of the party, 2029 could be a big moment for this country's left. whether or not the greens play the role of keystone is up to them

it is also the only manifesto to use the term 'neurodivergent'

💷ECONOMY

wealth tax of 1% on individuals with assets over §10m and 2% for assets over §1b (an extremely humble proposal), reform capital gains and investment dividend taxation to be at the same rates as income taxation, remove the income-based bands on national insurance contributions, ie raising total income taxation by 8% at §50k/a, – altogether raising government revenues by upwards of §70b/a

stratify VAT to reduce it for consumer stuff and hike it for stuff like financial services

permanent windfall tax on banks for whenever they get windfalls

perform a holistic land survey to get the data needed for a new, effective Land Tax

abolish the tax relief on existing freeports and SEZs

heavy carbon tax to raise a boatload of billions, rising progressively over a decade to allow industrial adaptation, for a ~§80b state windfall for five years that'll be for green investment as this windfall starts to recede

renationalise water and energy

§15 minimum wage, 10:1 pay ratio for all organisations public and private (ie §150 sort-of maximum wage, ~§300k/a), mandatory equal pay audits, 'support' lower hours and four-day weeks [clarification needed]

unambiguously define gig workers as workers with contract rights from day one, repeat offenders of gig-slavery will be banned from operating in the country

every City bank required to produce a strategy with a clear pathway to divestment of all fossil fuels "as soon as possible and at least by 2030", every City non-banking organisation simply to be banned from having fossil fuel in their portfolios, credit to be banned for repeat City climate offenders, mandate the BoE to fulfil the funding of the climate transition and climate leadership of the City, FCA to develop measures to ban fossil fuel share trading in the City and immediately prohibit all new shares in fossil fuels

"we will explore legal ways for companies to be transformed into mutual organisations"😈

develop regional cooperative banks to invest in regional SMEs, coops and community enterprises

diversify crop growth, promote local agricultural cooperatives and peripheral urban horticultural farms, give farmers a sort of collective bargain against grocers

aim towards a circular economy: require ten-year warranties on white goods, rollout of right-to-repair

tighten monopoly laws on media with a hard cap preventing >20% of a media market being owned by one individual or company and implement Leveson 2

🏥PUBLIC SERVICES

abolish tuition fees and cancel standing debt

surge nhs funding by §30B, triple labour's spending plans for everything, the entire budget, the entire state, everything

free personal care, with occupational therapy being part of this

35h/w free child care (eg seven hours over five days, or seven days of five hours)

renationalise many academies under local authorities, abolish the "charity" status of private schools and charge VAT

surge funding for smoking-cessation, addiction support and sexual health service

surge funding for public dentistry with free care for children and low-earners

free school breakfasts in primary school and free school lunches for all schools

one-month guarantee of access to mental health therapies

online access to PrEP

let school playing fields be used in the evenings by local sports clubs

greater funding for civic sports facilities and pools

🏠HOUSING

unambiguously-under-the-law nationalise the crown estate for an absolute fuckton of land and assets for housing and for green energy and rewilding for FREE

rent control for local authorities, ban no-fault evictions and introduce long-term leases, create private tenancy boards of tenants

local authorities to have right of first refusal on the purchase of certain properties at aggressive rates, such as unoccupied or uninsulated buildings

all new homes to be Passivhaus standard with mandatory solar panels and heat pumps

§30B across five years to insulate homes, §12B of which is for social homes, and §9B more for heat pumps, and §7B more for summer cooling

planning law reform: council planning mechanisms to priorities little developments all over the place rather than sprawling blobs, demolitions to require as thorough a planning application as erections, new developments required to not be car dependent

planning laws to require large-scale developments feature access to key community infrastructures such as transport, health and education, often mandating the construction of new key infrastructures, support nightlife and local culture in planning regulations

exempt pubs and local cultural events from VAT

building materials to be reusable, builders' waste rates to be surged to encourage use of reuse

750k new social homes in five years

🚄TRANSPORT

'a bus service to every village', restore local authority control and/or ownership of their busses

renationalise rail via franchise-concession lapsing, slowly assume ownership of the rolling stock (currently leased, and would continue to be so under labour's implementation of renationalisation) by buying a new train when the stock needs to be replaced

electrification agenda across the rail network, strategic approach to rail line and station reopenings

bring forward (sorta, the tories suspended it but labour says they'll reinstate it) the new petrol car ban from 2030 to 2027, existing petrol cars targeted to be off the road by 2034, investigate road-price charges as a replacement for petrol tax, hike road tax proportionally to vehicle weight, drop urban speed limits from 50kph to 30kph (or from 30mph to 20mph if you only speak Wrong), mass funding for freightrail and support logistics firms transitioning away from lorries

§2.5b/a for footpaths and cycleways, target of 50% of urban journeys to be extravehicular by 2030

frequent-flyer levy, ban on domestic flights within three-hour rail distance, remove the exemption of airline fuel from fuel tax, prioritise training of airline workers into other transportational jobs

👮FORCE

abolish the home office, transfer its police/security portfolio to the justice ministry and its citizenship/migration portfolio to a new migration ministry separate from the criminal justice system

abolish the kill the bill bill and restore the right to protest

recognise palestine, push for immediate ceasefire and prosecution of war crimes, back the south africa case, "[support] an urgent international effort to end the illegal occupation of palestinian land"

grant asylum-seekers the right to work before their application is granted

end the hostile environment

abolish Prevent

end routine stop-and-search and facial recognition

commission to reform 'counterproductive' drug regime, decriminalise personal possession

amend the Online Safety Act to "[protect] political debate from being manipulated by falsehoods, fakes and half-truths", ie actually protecting 'fReE sPeEcH' and not everything that rightists imply by that phrase

decriminalise sex work

reform laws to give artists IP protections against ai

cancel trident and disarm

push for nato reforms (in its and our interest, they're not russophiles, they're not galloway, it's ok): get it to adopt a no-first-use nuclear policy, get it to prioritise diplomatic action first rather than military reaction, get it to adopt a stronger line on only acting for the defence of its member states

right to roam🚶‍♂️

🌱CLIMATE

zero-carbon by 2040, rather than the ephemeral ostensible government target of 2050

stop all new oil/gas licenses, end all subsidy for oil/gas industries, regulate biofuels to end greenwashing, end subsidies for biomass

decarbonise energy by 2030, minimum threshold of energy infrastructures to be community owned, "end the de facto ban on onshore wind" with planning reform

massively expand the connections between the insular grid and the UCTE continental grid to increase electricity import and export and prevent the need for energy autarky

more targeted bans on single-use plastics

"give nature a legal personhood" ok grandma let’s get you to bed

§2b/a to local authorities for local small-business decarbonisation

"cease development of new nuclear power stations, as nuclear energy is much more expensive and slower to develop than renewables. we are clear that nuclear is a distraction from developing renewable energy and the risk to nuclear power stations from extreme climate events is rising fast. nuclear power stations carry an unacceptable risk for the communities living close to facilities and create unmanageable quantities of radioactive waste. they are also inextricably linked with the production of nuclear weapons. green MPs will campaign to phase out existing nuclear power stations." because some people just can't let go of the seventies. nuclear is good. nuclear is our friend

invest in r&d to find solutions to decarbonise 'residual' carbon in the economy, such as HGVs or mobile machinery

increase unharvested woodland by 50% (no time frame given), grants to farmers for scrub rewilding, rewet Pete Boggs, make 30% of the EEZ protected waters and ban bottom trawling

§4b/a in skills training to stop gas communities getting Thatchered, prioritising shifting these workers into offshore wind

a.. licensing scheme for all pet animals? you guys sure about that one

regulate animal farming with a goal of banning factory farms, ban mass routine antibiotics, ban cages/close confinement and animal mutilation

ban all hunting including coursing and "game", ban snaring, ban hunt-landscaping such as grouse moors, end the badger cull, mandate licensing of all animal workers with lifetime striking off for cruelty convictions, compulsory hedgehog holes in new fencing, 'push' for 'ending' horse and dog racing [clarification needed], new criminal offences for stealing and harming pets, 'work towards' banning animal testing

🗳️DEMOCRACY

proportional representation for parliament and all councils

abolish voter ID

votes at sixteen

votes for all visa'd migrants

restore the electoral commission's prosecutory powers and remove the cap on fines it can impose on parties

increase Short Money, especially for smaller parties

create a manifest legal category of organisation for think tanks, to allow better enforcement of lobbying and funding restrictions

consider fun new measures for political accessibility such as MP jobsharing and allowing public provision of offices for all parliamentary candidates

🎲OTHER STUFF

Self-ID including nonbinary recognition, including with an X passport marker

"work towards rejoining the eu as soon as the domestic political situation is favourable", join the eea now (with restored free movement)

let local authorities invest shares in sports teams, including professional ones, dividends ringfenced for public sports facilities and coaching

right to die

[mariacallous]

Among the many disruptive economic policies former U.S. President Donald Trump is promising to pursue if he returns to the White House next year—a list that includes massive tax increases on imports, a global trade war, and an exploding budget deficit—his insistence on a weaker U.S. dollar stands out as bizarre, if not downright counterproductive.

For decades, Trump has clamored for a weaker dollar, first as a heavily indebted real-estate developer, then as a presidential candidate, then as president, and now again as a candidate for reelection. Trump’s weak-dollar push has gained support from key figures such as Robert Lighthizer, his former trade czar, who may well play a pivotal role in a second Trump administration.

Their reasoning is wonderfully simple: The dollar, they argue, is overvalued compared to currencies used by trade rivals such as China, Japan, and Europe. A weaker dollar would make imports that much more expensive for Americans and make U.S. exports that much more attractive on global markets. Voilà—a simple tweak to start balancing an out-of-balance trade deficit that for some reason is their bête noire.

The problem—there are many, but more on that later—is that pursuing such a policy would run directly counter to the one thing that Trump claims to be fighting against, and which seems to still worry Americans the most: high prices.

“It makes no sense to run against high inflation, and then advocate lower interest rates, higher tariffs, and a weaker dollar, all of which will add to inflation,” said Maurice Obstfeld, a senior fellow at the Peterson Institute for International Economics and a former chief economist at the International Monetary Fund (IMF). “It just makes no sense.”

Or, as researchers at the Brookings Institution put it when Trump toyed with the same idea when he was president: “If the objective of the U.S. administration is to worsen their trade deficit, only temporary devalue the U.S. real effective exchange rate, boost the trade balances of U.S. trading partners, support China’s economy and undervalue China’s real effective exchange rate, provide only a temporary sugar-hit to the U.S. economy, worsen global currency misalignments and provoke retaliation from their trading partners, then this policy will achieve those objectives.”

First, though, Trump and company do have a point. The U.S. dollar is a bit overvalued compared to other major currencies, no matter how you look at it—even if it tripped on the carpet Wednesday over some disappointing economic news. The IMF figured it was about 6 percent to 12 percent overvalued the last time it looked, in 2019, and big rivals such as the Chinese renminbi and Japanese yen are relatively cheap by comparison. (The yen is near 40-year lows to the dollar.)

The bigger question is why. U.S. interest rates are still on the high side to tame inflation, which explains why the yen is tanking. But a lot has to do with the fact that the U.S. dollar is the world’s reserve currency. This means that foreign central banks buy and hold dollars, like everyone else in the global economy, which props up their value. U.S. securities, such as government debt, remain the absolute safe haven for investors in times of trouble, even when those troubles emanate, like during the 2008-09 financial crisis, from the United States. That demand props up the dollar. Massive fiscal deficits in the United States, such as that caused by Trump’s $1.9 trillion tax cut, require foreign funding to finance. That demand props up the dollar.

But the problems with pursuing a weak-dollar policy remain legion, even if the policy were actually workable.

For starters, a weaker dollar would neither put a governor on U.S. imports nor turbocharge U.S. exports, which is the explicit goal of the entire approach. In the very short term, a cheap-money, weak-dollar policy would boost U.S. economic growth, which would put money in consumers’ pockets, which would lead to an uptick in imports. That is why the U.S. trade deficit widens when times are good at home—consumers are flush.

But more importantly for Trump and Lighthizer’s case, a weak dollar would do little to boost U.S. exports. There are all sorts of things beyond the marginal value of the dollar that stand in the way of U.S. goods elbowing their way into foreign markets, from non-tariff barriers and regulatory regimes (no chlorinated chicken in Europe, please) to consumer preferences; massive trucks with poor gas mileage are a terrible fit in a place like Europe with pricey petrol and narrow roads.

The biggest reason, though, is that in the modern world of global supply chains, the ability of the value of any country’s currency to affect the level of exports is quite small. Products are made with inputs from foreign countries, sold to other countries, often re-imported, tinkered with again, and exported again somewhere else. The upshot is that in a globalized world, supply chain intermingling makes the value of the export currency increasingly irrelevant.

Another problem is that the easiest way to force the dollar down is by lowering U.S. interest rates, one of Trump’s long-standing obsessions. The one thing that axiomatically follows lower interest rates (unless you are Japan) is higher inflation, which is exactly what Trump and his acolytes have been bashing U.S. President Joe Biden over for years.

And there is a national security component, too. The United States maintains about 800 overseas military bases in more than 70 countries, which collectively underpin a globe-spanning projection of U.S. power. That is kept running day to day by spending dollars on fuel, power, supplies, and a million other things. The weaker the dollar is, the more expensive it would be to maintain the country’s sprawling overseas commitments, which sits rather awkwardly with Trump’s advisors’ plans for “peace through strength” overseas.

But Trump’s plans for a weaker dollar would be hard to realize in any event, which makes the whole exercise befuddling.

Take the Chinese currency, which, despite years of scolding from U.S. officials before, during, and after Trump, keeps getting cheaper in relative terms. The renminbi is partially pegged to the dollar. If the dollar goes down in value, the renminbi will follow it down like George Costanza’s rock-climbing partner. Other countries can equally stand aside and let their own currencies slide a bit to offset the dollar’s move, and everything goes back to square one.

Then there is the tariff angle. Trump has already vowed tariffs on every country in the world, and especially on China. The last time he did that, China and Europe retaliated in kind. Foreign tariffs would erase absolutely any tiny advantage gained by a cheaper dollar.

And then there is the exploding deficit. One-quarter of the entire U.S. national debt was accrued during Trump’s term, in part due to his massive unfunded tax cuts. He promises to double down in a second term, with more unfunded tax cuts that can only be filled by enticing foreign investors to pay for them—which requires higher yields on U.S. government debt, which would then act to push the dollar back up again, undoing all the work he just tried to do.

So why, knowing what we know about the pitfalls and perils of a weak-dollar policy, is this such a Trump priority? It seems that the lodestars for Trump and his economic brain trust are found in years past, and none of them are particularly good for learning economic lessons.

Trump himself seems keen on replaying the 1930s, not exactly a golden time for the U.S. and global economies. His love of tariffs is well known, but it takes a special breed to make worship of the infamous 1930 Smoot-Hawley tariff the hill to die on. He couples that with a love of competitive devaluation of currency to get a trade advantage, another tactic that featured heavily in 1930s beggar-thy-neighbor economic thought (though recent research suggests competitive devaluation only slightly beggared some neighbors and tariffs were a greater evil).

Lighthizer last took his bearings in the 1980s, when the Reagan administration strong-armed Japan over trade, imposed trade restrictions that raised prices and lowered choice for U.S. consumers, and got European allies to help deflate an admittedly overheated dollar with the Plaza Accord, named after the New York hotel in which Trump once made a cameo in a Christmas movie.

But that was, Obstfeld said, a very different time. The dollar was wildly overvalued, there was no common European currency, and Europe was utterly dependent on the U.S. security umbrella during the Cold War. Trump previously threatened to pull out of NATO (and now says he’ll only stay as long as European countries pay their share), refuses to commit to collective defense, and has already started a trade war once with those allies. None of the levers that did the lifting back then are even around today.

Trump has been chasing a weaker dollar for decades and didn’t manage to get there during his chaotic term. He may not get there again, even if he gets to the White House again. But it is a reminder that beyond the crimes and the misdemeanors and the worries about everything else, there are literally dollars and sense at stake this November.

“I just don’t see how the United States can stand alone and be strong. It is all back to the 1930s and isolationism,” Obstfeld said. “It is so misguided.”

[allthebrazilianpolitics]

Political Barriers to Decarbonization in Brazil: The Persistence of Neoliberalism

After four years of a neoliberal government that dismantled environmental regulations in Brazil, the country is once again transitioning toward a state-led model of development. But entrenched domestic interests may thwart a more sustainable path.

Since Brazil’s redemocratization in 1989, the country has oscillated between neoliberal and more interventionist development models, the latter championed by the governments of the Workers’ Party. Now, during Luiz Inácio Lula da Silva’s third presidency, the government has initiated a state-led program of “neoindustrialization” aimed at advancing decarbonization efforts. Even though Brazil has several advantages in the transition to a green economy, such as its clean energy matrix and abundance of natural resources, the success of this transition depends on overcoming barriers imposed by two important domestic constituencies: agribusiness producers and impoverished citizens that rely on extractive activities, particularly in the Amazon region. Those groups perceive environmental policies as a threat to their economic interest and livelihoods, respectively, posing significant challenges to the government’s sustainable development efforts. The political barriers to decarbonization in Brazil provide a compelling case study of the challenges that progressive governments in Latin America face when attempting to pursue policy directions that run counter to the entrenched interests of powerful economic groups. Brazil’s circumstances also underscore the importance of implementing policies that provide alternatives and compensation to the poorest citizens to keep the forest standing.

For the past three and a half decades, Brazil has alternated between neoliberal and state-led developmental models. A significant contrast between these frameworks lies in the role played by the Brazilian Development Bank, commonly referred to as the BNDES. Neoliberal administrations typically have constrained the BNDES’s scope, restricted the amount of subsidized credit it extends, and at times redirected its resources toward downsizing the public sector and facilitating the privatization of state-owned enterprises. By contrast, when the Workers’ Party has been in power, the BNDES has occupied a central position in the Brazilian economy. Under these administrations, the bank has financed development initiatives to address regional inequalities, enhanced access to credit for small and medium-sized enterprises, and funded industrial policies and the global expansion of Brazilian multinational corporations. Consequently, the breadth of BNDES’s operations often serves as a barometer of the policy priorities set by Brazilian administrations.

Now, under Lula’s third administration, the BNDES once again exemplifies the government’s commitment to advancing industrial policies, this time with a specific focus on promoting the country’s green transition. Consistent with this strategic orientation, the bank has announced a program of neoindustrialization intended to reinforce decarbonization initiatives within the Brazilian economy. The BNDES also oversees the management of the Climate Fund (Fundo Clima), which is expected to serve as a critical instrument within Brazil’s national climate change policy framework. This emphasis on environmental considerations is consistent with Lula’s two previous administrations. It reflects the government’s sense that Brazil’s abundant natural resources, clean energy infrastructure, rich mineral deposits, and ecologically significant biomes (such as the Amazon and Cerrado) leave the country uniquely positioned to capitalize on the global transition toward a green economy. It also reflects the political leadership’s decision to place the climate issue at the center of Brazil’s strategy for international engagement.

However, the success of Brazil’s transition to a decarbonized economy and its leadership on climate policies under Lula depend on overcoming at least two significant domestic barriers. The first is posed by an affluent, politically organized, and influential agribusiness sector, which reacts adversely to environmental regulation. The second stems from impoverished populations engaged in extractive activities, especially in the Amazon region, who perceive environmental concerns as a threat to their livelihoods.

Continue reading.

[tokenlauncher]

Top Reasons Why Mint Tokens Are the Future of Digital Finance in 2024

Introduction

The world of digital finance is rapidly evolving, with innovations emerging at an unprecedented pace. One of the most promising developments in this space is the rise of mint tokens. These digital assets are redefining the way we think about finance, offering new opportunities for investment, transactions, and economic growth. As we look ahead to 2024, it’s clear that mint tokens are poised to play a crucial role in shaping the future of digital finance. In this blog, we’ll explore the top reasons why mint tokens are set to dominate the financial landscape in the coming year.

What Are Mint Tokens?

Understanding Mint Tokens

Mint tokens are digital assets created on a blockchain network. Unlike traditional cryptocurrencies like Bitcoin, which are mined through complex computational processes, mint tokens are typically created through a process called minting. This involves the issuance of new tokens directly on the blockchain, often by a centralized entity or through decentralized protocols.

Types of Mint Tokens

Mint tokens can serve various purposes, including utility tokens, security tokens, governance tokens, and even memecoins. Each type of token has its unique characteristics and use cases, contributing to the diverse ecosystem of digital finance.

1. Enhanced Security and Transparency

Blockchain Technology

One of the primary reasons mint tokens are gaining traction is their inherent security and transparency. Built on blockchain technology, these tokens benefit from decentralized and immutable ledgers, which record every transaction. This ensures that all token movements are transparent and verifiable, reducing the risk of fraud and enhancing trust among users.

Smart Contracts

Mint tokens often utilize smart contracts, which are self-executing contracts with the terms directly written into code. These contracts automatically enforce agreements and transactions, eliminating the need for intermediaries and further enhancing security and efficiency.

2. Accessibility and Inclusivity

Democratizing Finance

Mint tokens have the potential to democratize finance by providing access to financial services for individuals who are underserved by traditional banking systems. With just a smartphone and internet connection, anyone can participate in the digital economy, regardless of their location or socio-economic status.

Lower Barriers to Entry

Creating and trading mint tokens is often more accessible than traditional financial instruments. Platforms that facilitate the minting process have simplified the creation of new tokens, allowing users to launch their digital assets without extensive technical knowledge or significant capital investment.

3. Decentralized Finance (DeFi) Integration

Expanding the DeFi Ecosystem

Mint tokens are integral to the growth of decentralized finance (DeFi), a movement that aims to create an open and permissionless financial system. By integrating with DeFi protocols, mint tokens enable a wide range of financial activities, such as lending, borrowing, trading, and staking, without relying on centralized institutions.

Yield Farming and Liquidity Provision

One of the key features of DeFi is yield farming, where users earn rewards by providing liquidity to decentralized exchanges (DEXs) and other DeFi platforms. Mint tokens can be staked in liquidity pools, generating passive income for holders and contributing to the overall liquidity and stability of the DeFi ecosystem.

4. Enhanced Interoperability

Cross-Chain Compatibility

As the blockchain ecosystem grows, interoperability between different networks becomes increasingly important. Mint tokens are often designed to be cross-chain compatible, allowing them to move seamlessly between various blockchains. This enhances their utility and opens up new possibilities for decentralized applications (dApps) and financial services.

Bridging Traditional and Digital Finance

Mint tokens can also serve as a bridge between traditional financial systems and the emerging digital economy. By tokenizing real-world assets such as stocks, bonds, and real estate, mint tokens enable fractional ownership and easier transfer of these assets, making them more accessible and liquid.

5. Innovation in Tokenomics

Dynamic Supply Mechanisms

Mint tokens offer innovative tokenomics models that can adapt to changing market conditions. For example, some mint tokens have dynamic supply mechanisms that adjust the token supply based on demand, helping to stabilize prices and incentivize user participation.

Incentive Structures

Many mint tokens incorporate incentive structures to encourage long-term holding and active participation in the ecosystem. These incentives can include staking rewards, governance rights, and access to exclusive services or benefits, driving user engagement and loyalty.

6. Environmental Considerations

Energy Efficiency

Traditional proof-of-work (PoW) mining methods used by cryptocurrencies like Bitcoin are often criticized for their high energy consumption. In contrast, mint tokens typically use more energy-efficient consensus mechanisms, such as proof-of-stake (PoS) or delegated proof-of-stake (DPoS), reducing their environmental impact.

Sustainable Growth

As the world becomes more conscious of environmental issues, the sustainability of financial systems is gaining importance. Mint tokens, with their lower energy requirements and innovative approaches to consensus, align with the growing demand for environmentally friendly financial solutions.

7. Regulatory Compliance

Aligning with Regulations

As the cryptocurrency market matures, regulatory compliance is becoming a critical factor for the long-term success of digital assets. Mint tokens can be designed to comply with regulatory requirements, providing greater assurance to investors and facilitating wider adoption.

Enhancing Investor Confidence

Regulatory compliance enhances investor confidence by ensuring that mint tokens adhere to established legal and financial standards. This can attract institutional investors and contribute to the overall legitimacy and stability of the digital finance ecosystem.

8. Increased Adoption and Market Growth

Expanding Use Cases

The versatility of mint tokens is driving their adoption across various industries, from finance and gaming to supply chain management and healthcare. As more use cases emerge, the demand for mint tokens is expected to grow, further solidifying their position in the digital economy.

Mainstream Acceptance

Mint tokens are gaining mainstream acceptance as more businesses and individuals recognize their potential benefits. High-profile endorsements, partnerships, and integrations with established platforms are helping to drive awareness and adoption, paving the way for widespread use.

Conclusion

Mint tokens are poised to revolutionize digital finance in 2024, offering enhanced security, accessibility, and innovation. Their integration with DeFi, cross-chain compatibility, and environmentally friendly features make them a compelling choice for investors and users alike. As the digital finance landscape continues to evolve, mint tokens are set to play a pivotal role in shaping the future of the economy.

By understanding the unique advantages of mint tokens and staying informed about the latest developments, investors can position themselves to capitalize on the opportunities presented by this exciting and transformative technology. Whether you are a seasoned investor or new to the world of digital finance, mint tokens offer a promising avenue for growth and innovation in the years to come.

[unpluggedfinancial]

The Unseen Impact of Bitcoin on the Global Economy

When people think about Bitcoin, the first thing that usually comes to mind is its price. Headlines often focus on its volatility, its highs, and its lows. But beneath the surface, Bitcoin is doing much more than just fluctuating in value. It’s quietly reshaping financial systems, altering how we think about money, and influencing global trade in ways that most people don’t yet fully appreciate.

The Psychological Shift: Changing Perceptions of Money

For centuries, people have trusted in the value of money as defined by governments—whether it was gold-backed currencies or the fiat money we use today. Bitcoin, however, is challenging these traditional views. It introduces the idea that money doesn’t need to be controlled by a central authority. Instead, it can be decentralized, with its value determined by the consensus of its users.

This shift is significant because it represents a move towards financial sovereignty. With Bitcoin, individuals have the ability to control their wealth without relying on banks or governments. This is particularly appealing in regions where economic instability or authoritarian regimes threaten the security of personal assets. Countries like Venezuela, where hyperinflation has rendered the national currency nearly worthless, have seen a growing adoption of Bitcoin as a means of preserving wealth and ensuring financial independence.

Bitcoin’s Influence on Global Trade

Beyond its role as a store of value, Bitcoin is also beginning to impact global trade. Its decentralized nature and the ability to facilitate borderless transactions make it an attractive option for international commerce. Traditional banking systems, with their fees, delays, and reliance on the US dollar as the global reserve currency, are starting to feel the pressure.

As Bitcoin becomes more widely accepted, it has the potential to reduce the world’s dependence on the US dollar in international trade. This could lead to a more balanced global economy, where multiple currencies—both digital and fiat—compete on a more level playing field. Some countries and companies are already experimenting with Bitcoin for trade, recognizing its potential to streamline transactions and reduce costs.

The Quiet Evolution of Financial Systems

While Bitcoin’s influence on global trade and perceptions of money is becoming more evident, its impact on financial systems is happening more quietly. Many financial institutions and corporations are gradually integrating Bitcoin into their strategies, even if they’re not openly discussing it. This quiet adoption is setting the stage for a more significant shift in the future.

Central banks, too, are taking notice. The rise of Bitcoin has spurred interest in developing central bank digital currencies (CBDCs). While CBDCs differ from Bitcoin in that they are centrally controlled, their development is a clear response to the growing popularity of decentralized digital currencies. This trend could eventually lead to a financial landscape that is more decentralized, transparent, and accessible.

Sound Money and the Moral Shift

One of the most profound yet often overlooked impacts of Bitcoin lies in its potential to influence human behavior and morals. Sound money—money that is stable, scarce, and resistant to manipulation—naturally encourages long-term thinking. When people know that their money will retain its value over time, they are more likely to save, invest wisely, and make decisions that benefit their future selves.

In contrast, fiat currencies, which can be inflated at will, often incentivize short-term thinking. When people are unsure about the future value of their money, they are more prone to spending impulsively, taking on unsustainable debt, or engaging in risky financial behavior. This "live for today" mentality can have ripple effects throughout society, leading to economic instability, social unrest, and a general decline in ethical standards.

Bitcoin, as a form of sound money, has the potential to reverse these trends. By encouraging people to think long-term and value their future, Bitcoin could foster a society where individuals act with greater responsibility, integrity, and consideration for the broader community. In a world where sound money prevails, we might see a resurgence of virtues like patience, prudence, and self-discipline—qualities that are often eroded by the pressures of an inflationary monetary system.

The Broader Implications for Financial Sovereignty

Bitcoin’s influence is not just limited to financial institutions and global trade; it’s also changing the way we think about financial sovereignty on a global scale. Governments and regulators are grappling with how to address the rise of Bitcoin and other cryptocurrencies, leading to new policies and regulations that could redefine financial freedom.

One of the most exciting aspects of Bitcoin is its potential to empower the unbanked—those who don’t have access to traditional banking services. In regions with limited infrastructure, Bitcoin offers a way to participate in the global economy without needing a bank account. This could have profound implications for financial inclusion, particularly in developing countries.

As Bitcoin continues to evolve, its long-term impact on the global economy could be immense. The shift in power from traditional financial institutions to decentralized networks could lead to a more equitable and resilient financial system. While the journey is just beginning, the potential for Bitcoin to transform global finance is already becoming clear.

Conclusion

In the grand scheme of things, Bitcoin’s price is just a small part of its story. The real power of Bitcoin lies in its ability to challenge the status quo, reshape our financial systems, and redefine what money means in the 21st century. As we move forward, it’s essential to look beyond the price charts and consider the broader implications of this revolutionary technology.

If you haven’t already, now is the time to start exploring Bitcoin’s impact beyond its market value. The changes it’s driving may be subtle, but they’re profound, and they have the potential to transform the world as we know it.

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[collapsedsquid]

Although many surprises undoubtedly lurk down river, it is already clear that the advent of ‘catastrophic terrorism’ in tandem with what may likely be the worst recession since 1938 will produce major mutations in the American city. There is little doubt, for instance, that bin Laden et al have put a silver stake in the heart of the ‘downtown revival’ in New York and elsewhere. The traditional central city where buildings and land values soar toward the sky is not yet dead, but the pulse is weakening. The current globalization of fear will accelerate the high-tech dispersal of centralized organizations, including banks, securities firms, government offices, and telecommunications centres, into regional multi-site networks. Terror, in effect, has become the business partner of technology providers like Sun Microsystems and Cisco Systems, who have long argued that distributed processing (sprawling PC networks) mandates a ‘distributed workplace’. In this spatial model (of which the Al-Qaeda network might be an exemplar), satellite offices, telecommuting and, if the need be, comfortable bunkers will replace most of the functions of that obsolete behemoth, the skyscraper. Very tall buildings have long been fundamentally uneconomical; indeed the absurdly overbuilt World Trade Centre—a classic Rockefeller boondoggle—was massively subsidized by public-sector tenants.footnote23 (Will the hijacked airliners someday be seen as having played the same role in the extinction of skyscrapers as the Chixulub asteroid in the demise of dinosaurs?)

[...]

Despite massive plans for ‘hardening’ and ‘terror-proofing’ downtown public spaces and monumental buildings, however, most white-collar workers and managers will prefer to consume enhanced security closer to their suburban homes.footnote24 Physical security retrofits—the reinforcement of building structures, vapour-and-trace detection systems, bollards and traffic barricades, bomb mitigation containers, smart doors, metal detectors, bomb-proof trash cans, biometric surveillance portals, reduced surface and underground parking, and so on—will impose huge and unavoidable expenses for cities trying to shore up their downtown economies, but they are unlikely to stem the new exodus of jobs and tax resources. Massive public-sector subsidies to developers and corporate tenants likewise may slow but probably won’t reverse the trend toward deconcentration. In addition, as self-advertised ‘world cities’ hunker down for the long siege, urban economists and fiscal analysts must wrestle with the new demon of ‘de-globalization’: the portion of global service production and international tourism that may be lost forever.

I sometimes think back on the “fortress suburbia“ vision of ~2000 where locked-up suburban subdivisions would be opposite total urban blight that seemed like the inevitable future, instead we got “gentrification” as the major issue of ~2010.  Seemed like that might happen with covid too, although that’s still up in the air it seems like I’m not gonna get lucky enough to have my area blighted and get a goddamn rent reduction.

[newspressblog24]

Russian 'Trojan horse' bank stokes unease in Hungary

Called "Putin's Trojan horse" by Hungarian opposition politicians, a small Russian-dominated bank in Budapest has sparked unease ahead of Russian President Vladimir Putin's visit to the capital Wednesday.

The International Investment Bank (IIB) officially completed the move of its headquarters to Budapest last month.

But concerns persist that it is a vehicle for extending Russian political influence in Central Europe, and potentially for intelligence-gathering.

Hungarian opposition politicians have described the bank as a "national security threat" and a "nest of spies".

And in September, nine US senators and two Members of Congress set out their concerns in a letter to Washington's ambassador in Budapest.

The bank "is widely seen as an arm of the Russian secret service," they wrote.

Major shareholder -

Founded in 1970 by the Soviet Union to foster links within the communist bloc, the IIB is registered as an official Russian state organ.

Billed as a version of the London-based European Bank of Reconstruction and Development (EBRD), albeit smaller, the bank distributes loans to firms and projects in member countries.

Five of its nine current members are EU and NATO countries Bulgaria, Czech Republic, Hungary, Romania and Slovakia. The other members, besides Russia itself, are Cuba, Mongolia and Vietnam.

Hungary left the bank during nationalist Prime Minister Viktor Orban's first term in 2000, citing a lack of transparency. But three years after Putin revamped it in 2012, Hungary rejoined, and is its second biggest shareholder.

The move to Budapest will "strengthen the role of Hungary and Budapest as an international financial centre", the Hungarian government's press office told AFP in an email.

Security risks -

The bank is expected to have more than 100 international staff when fully operational in a permanent office next year, but the background of some senior figures has raised concerns among some observers.

Although the bank has firmly denied ever carrying out spying activity and rejects the 'Trojan horse' analogy, its chairman, veteran diplomat Nikolay Kosov, has alleged family links to the Russia's KGB.

Hungary's delegate to the bank, Imre Boros, worked for Hungarian intelligence during the country's pre-1990 communist era.

Legislation approved by Budapest in March, meanwhile, grants wide-ranging diplomatic immunity to some of its foreign staff.

"Staff regulations follow the usual practise for significant international organisations like the IMF," the government's press office told AFP.

The IIB says it is entitled to such privileges as it is registered with the United Nations as a multilateral, intergovernmental development bank.

It "receives no more" immunity than the EBRD or the World Bank in the US, said IIB senior official Imre Laszloczki in a recent interview in Hungarian media.

But observers like Andras Racz, a Russia expert at the German Council on Foreign Relations, argue that the leeway given to the IIB is much wider.

"There are clear security risks that don't look to be addressed properly," Racz said.

Nor will the bank's activities be subject to financial control or regulatory supervision in Hungary, he told AFP.

"The language of the bank is Russian, the headquarters was in Moscow for the last 49 years, the director is Russian. They have de facto control due to the decision-making structure. It is a Russian-dominated bank," he said.

Economic opportunities? -

According to Budapest, the move "will bring shareholders, including Hungary, positive results, and will offer players of the Hungarian economy further new opportunities".

But some analysts suspect the bank's loans could easily be funnelled toward business allies of Orban.

Others however point out that the bank's lending portfolio -- around 750 million euros ($830 million) in 2018 -- is dwarfed by those of western development lending institutions.

"The IIB may have a bit of an economic impact, but the size will be small," Andras Deak, an expert at the Hungarian Academy of Sciences, told AFP.

Moscow's leverage with Hungary has grown since Orban adopted a policy of "eastern opening" toward Russia, Turkey and China after returning to power in 2010.

In 2014 he signed a 10-billion euro ($11 billion) loan deal with Putin to expand Hungary's only nuclear plant at Paks, south of Budapest.

The IIB is likely to be discussed this week in Budapest during a meeting between Putin and Orban.

They are also due to sign a major gas energy supply deal and finalise a Hungarian-Russian consortium to produce railway carriages for Egypt.

[360digitmgmalaysia]

Is Data Science a Good Career in Malaysia?

In this world which has become a pool of data, the role of data science nowadays becomes much larger than this. Analytics or the ability to analyze data, therefore, becomes the means by which businesses and organizations can not only survive but thrive indicating enhancements in efficiency and effectiveness of activities conceived and undertaken and new spaces created for them. Development of such trends has created a sizable demand for data science professionals not only on the global level but also at the national level, in Malaysia. 

This is because data science as a profession has quickly grown to be one of the most demanded professions across the world due to the rate at which countries are embracing technology. In the case of Malaysia for example the uptake of AI and other related technologies such as big data and machine learning as the new digital technologies of change that can be targeted for improvement in productivity for the purpose of innovation among the governments and private entities in the country is on the increase. Let us now turn our attention to why data science has been the buzzword to become one of the most sought-after professions in the contemporary world and what the future of the occupation has for those who decide to take up this career path in the given country.

Growing Demand for Data Science in Malaysia

Malaysia is on the journey toward a knowledge-based, data-driven economy, with data science playing a central role in this transformation. While businesses in many sectors have just about began to get a glimpse of the immense potential lying in data analytics, demands for capable data professionals have shot up. Some of the key industries driving demand in Malaysia for data science include finance, healthcare, manufacturing, e-commerce, and telecommunications.

Several factors are contributing to this growing need for data science professionals:

This is further manifested by: 

• Digital Transformation Initiatives: The government of Malaysia is committed to digital transformation. It launched the Malaysia Digital Economy Blueprint, MyDIGITAL, to fast-track the adoption of data science, AI, and digital technologies. Furthermore, jobs numbering in the thousands are also being created in the field of data, thus creating a need for data scientists in industries across the board.

• Financial Services Sector: Banking and financial services have always been one of the largest adopters of data science industries in Malaysia, adopting advanced analytics in fraud detection, credit risk assessment, and personalized financial products. With the recent rise in fintech and digital banking, this has even driven up demand for data scientists who are crucial in helping to develop innovative financial solutions.

• Healthcare Industry: Data science will also revolutionize health care in Malaysia, enabling better personalized care for patients, prediction of diagnostics, and higher efficiency in hospital management. Data scientists in health make use of machine learning and AI on medical data to analyze and optimize treatment plans, allowing the forecasts of patient outcomes and opening so many career opportunities.

E-commerce and Retail: E-commerce platforms like Shopee and Lazada have been growing rapidly in Malaysia. For this, data science is being used to analyze consumer behavior, improve customer engagement, and optimize inventory management. This has created a rising demand for data scientists with substantial actionable insight to drive business growth in many ways.

Manufacturing and Supply Chain Optimization: Data science in Malaysia is considered crucial for the manufacturing industries for various key activities, such as predictive maintenance, quality control, and supply chain optimization. Large volumes of data let manufacturers improve production efficiency and cut down on production costs, enabling them to further enhance their operational performance.

These are the combined factors that make the job market for data scientists very strong in Malaysia. As more industries start to realize the power of insight from data, the demand for professionals in the field of data science will continue to keep growing and be a rewarding career. Competitive Salaries and Career Growth

Probably the most attractive feature of building a career in data science in Malaysia is the very competitive salary and the possibility of immense career growth. Due to the shortage of skilled data science professionals, organizations are ready to pay above-average salaries in order to attract and retain the best talent. Based on job market data, the average cost of a data scientist in Malaysia ranges from RM 80,000 to RM 150,000 annually, depending on experience, skill set, and industry.

Furthermore, career paths are well-defined in the field of data science. Though entry into the job market either as a data analyst or as a junior data scientist may be meritorious, further opportunities will unfold to gain experience in these higher-value areas: machine learning engineer, data engineer, or AI specialist. It goes without saying that experienced and capable data scientists would rise into leadership positions as managers of data science or chief data officers who drive an organization's data strategy.

Kickstart your career by enrolling in this: Data Science Courses in Malaysia

What Makes Data Science a Great Career in Malaysia?

The following are some of the main advantages which define data science and make the occupation choice promising and interesting for everybody in Malaysia. 

High Demand and Job Security: That is why there should not be any long-term problems with employment for data science personnel as the digitalization of many industries continues to progress. And this alone means job security and stability anyone willing to venture into this area of specialization. 

Diverse Career Opportunities: Data science is an enabling field; one can get jobs in any given area of specialization of one’s choice such as finance, health care, retail, manufacturing, telecommunications, or even civil service. Finally, data science helps one to hone in on a specific region of focus, say, health or business.

Challenging and Rewarding Work: It is all about difficult challenges, decoding the code in data, and rounding up innovation. Therefore, it is quite scholarly, enjoyable as well as fulfilling for those who prefer to deal with numeral, algorism and fairly established technology. 

Impactful Contributions: So, with the help of presenting his/her expertise in the decision-making front in businesses, increasing the customer satisfaction, and charting the route for the industries, a data scientist contributes to a lot of important works. 

What a data scientist provides to an organization is very quantifiable:

Continuous Learning and Innovation: Therefore, data science is an unending process of expansion as with the growth of advanced technologies, tools, and techniques each day, the knowledge in this field can infinitely develop, which in turn engages the professional in the respective areas.

Role of a Data Scientist

• From converting large datasets into useful forms that organizations use to make their decisions, the roles of a data scientist may slightly differ from one organization to another as essential as it may be. • Data Collection and Cleaning: The data scientists pull data from various sources such as databases, sensors, social media, and transactional systems. The derived data has to be cleaned and pre-processed in case there are inconsistencies like missing values for it to be analyzed. Watch here : Data Science Demo

• Data Exploration and Analysis: When exploring data, data scientists can use elements of statistics and programming to search for patterns, relations, and trends. This assists the data scientists in making sense of the data that can be used to arrive at meaningful conclusions. • Building Predictive Models: Machine learning is a way of developing analytical models in which data scientists utilize sample databases to design prognostic models which can predict future trajectory of events or phenomena. These models provide forecasts like customer actions, some levels of demands for a certain product and the potential risks needed for a certain project financially. • Data Visualization and Communication: A key responsibility of a data scientist is to translate complex findings into a format that is easy to understand. Some of the visualization tools that data scientists use are Tableau, Power BI, or Matplotlib to come up with the charts, graphs as well as the dashboard to present the insights to the stakeholders. • Collaborations: Sometimes, a data scientist has to work with the representatives of other departments like marketing, finance, operation, etc. It shows how the various departments must work more collaboratively and in harmony towards business objectives and plans.

Conclusion

The desire for data scientists is on the rise in the country, enabling experts to earn attractive salaries, enjoy employment stability, and embark on promising careers. With more and more businesses across industries incorporating data in their decision making, data science is set to further gain prominence going ahead. Studies show that careers in data science are diverse and fulfilling – and to become data professionals, learners can opt to pursue a data science program at 360DigiTMG. Therefore, if you are asking yourself whether data science is a good profession in Malaysia, the answer is positive. From the above discussion, it can be deduced that the future of data science in Malaysia is promising, and anyone wishing to be part of the data revolution should do so now.

[novumtimes]

Hamdan bin Mohammed attends graduation of first cohort of Master of Science in Big Data and Business Analytics at ESCP Business Schools Dubai campus UAE

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, attended the graduation ceremony of the first cohort of the ‘Master of Science in Big Data and Business Analytics’ offered by the ESCP Business School at its Dubai campus in the DIFC Academy. His Highness congratulated the graduates on their hard work and determination in achieving academic success at this prestigious institution. He encouraged them to use the skills and knowledge they acquired to serve their country and community. HH Sheikh Hamdan highlighted the UAE’s commitment to nurturing and advancing the skills of its national talent and equipping them with cutting-edge knowledge and expertise. He noted that this strategic focus is essential to driving comprehensive development, in line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. His Highness praised the role of international academic institutions in Dubai in enhancing the education sector and reinforcing the emirate’s position as a leading global hub for higher education. These efforts align with the goals of the ‘Dubai Social Agenda 33,’ aimed at fostering an education system capable of fulfilling Dubai’s future ambitions and enhancing its human capital, he said. Additionally, the Crown Prince of Dubai expressed gratitude to Al Rostamani Group for awarding scholarships to the first cohort of students, and highlighted the commitment of private entities in supporting Dubai’s strategic plans. At the end of the ceremony held at the Dubai World Trade Centre, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum posed for commemorative photos with the graduates. 220 graduates from across the UAE Comprising of 220 Emirati students, the inaugural cohort was nominated by various government and private entities across the UAE, including The Executive Council of Dubai; UAE Space Agency; UAE Ministry of Foreign Affairs; Masdar; UAE Ministry of Education; Dubai Police; UAE Ministry of Economy; UAE Ministry of Interior; Abu Dhabi Police; Nawah Energy Company; Dubai Future Foundation; Mubadala; UAE Ministry of Human Resources and Emiratization; ADNOC; UAE Ministry of Health and Prevention; Emirates Airlines; Federal Tax Authority; Etihad Rail; Roads and Transport Authority (RTA); UAE Central Bank; Dubai Municipality; Etisalat; and Dubai Electricity and Water Authority (DEWA). In 2022, ESCP Business School, the world’s oldest business school, founded in 1819, launched its seventh global campus—and its first in the region—at the Dubai International Financial Centre Academy. The campus, founded with the support of Al Rostamani Group, offers a variety of educational programmes and certificates, including several introduced for the first time both regionally and globally. The ‘Master of Science in Big Data and Business Analytics’ programme, ranked fourth worldwide, focuses on emerging technologies and future trends, tackling challenges in a data-driven world while honing skills in problem-solving, analysis, and strategic decision-making. Follow Emirates 24|7 on Google News. Source link via The Novum Times

[timesofinnovation]

In a bold initiative aimed at enhancing the financial landscape of Pakistan, Visa has set its sights on exponentially increasing the acceptance of digital payments within the country. This strategic plan, articulated by Visa's general manager for Pakistan, North Africa, and Levant, Leila Serhan, seeks a tenfold expansion over the next three years through a partnership with 1Link, the largest payment service provider in Pakistan. This collaborative effort is not just about technology; it aims to empower businesses, streamlining transactions, and improving financial inclusivity for a large segment of the population. Pakistan is at a critical juncture, grappling with a significant challenge in its banking landscape. Despite a population of approximately 240 million, only 60% of the 137 million adults have access to banking services. This presents both a challenge and an opportunity for Visa and its partners. With the introduction of innovative solutions such as turning smartphones into payment devices and the integration of widely accepted payment methods like QR codes and contactless card tapping, the potential for transforming the payments ecosystem in Pakistan is immense. To achieve these ambitious goals, Visa plans to invest heavily in developing digital payment infrastructure. This investment not only focuses on making digital transactions more affordable and user-friendly but also addresses the needs of smaller merchants who often struggle with high transaction fees and complex setups. By lowering barriers to entry for digital payments, Visa aims to encourage widespread adoption among businesses of all sizes. The partnership with 1Link is particularly critical in enhancing the remittance process, which plays a vital role in Pakistan’s economy. With remittances contributing significantly to the nation’s GDP, improving the mechanisms for these transactions can have far-reaching effects. The collaboration involves allowing 1Link's PayPak cards to be utilized on Visa’s online platforms, offering customers more choices and simplified processes. This strategic move is noteworthy as it signifies a cooperative approach between two competitors working towards a common goal of financial inclusion. Moreover, this initiative aligns with Pakistan’s ongoing economic reforms, particularly following the $7 billion bailout from the International Monetary Fund (IMF). In an environment where digital payments are becoming increasingly central to economic recovery and growth, Visa's commitment to supporting these reforms showcases the company’s foresight in recognizing the importance of digital payments in modern economies. Visa’s strategy is underpinned by a deep understanding of the current market dynamics in Pakistan. The company is not merely pushing technology for technology's sake; instead, it is tailoring its offerings to meet the specific needs of the Pakistani consumer and business owner. For instance, the ability to facilitate various payment methods through established networks and technological innovations is critical in a country where many people remain unbanked. The integration of digital payment solutions can also help ensure that businesses operate more efficiently. With mobile payment options becoming more popular, particularly in urban areas, businesses that adopt these technologies stand to benefit significantly. Not only do they gain access to a broader customer base, but they also enhance their operational efficiencies through automated processes that reduce cash handling and the associated risks. As Visa moves forward with this initiative, it hopes to foster a more secure payment environment. Enhanced security features that accompany digital transactions can help build trust among users, encouraging them to switch from cash to digital solutions. The cooperation with 1Link adds an extra layer of reliability to this goal, as both entities are focused on ensuring that transactions remain secure and compliant with international standards.

Digital transformation is not just about improving processes; it's about creating a more inclusive financial system that can benefit everyone, especially those who have previously been left out. Visa's significant investment in infrastructure, combined with innovative solutions, has the potential to reshape the financial landscape in Pakistan in ways that benefit consumers and businesses alike. In conclusion, Visa's partnership with 1Link marks a pivotal moment for digital payments in Pakistan. As the country stands on the brink of a technological revolution in finance, it is essential to support this transition effectively. The ambitious plan to expand digital payment acceptance is not just about Visa; it’s about empowering millions of Pakistanis and positioning the economy for sustainable growth in the years to come.

[head-post]

Germany seeks to enhance co-operation with Tajikistan, Turkmenistan

Germany is interested in expanding co-operation with Tajikistan in the energy sector, including hydropower and other green energy sources, as well as in mining, environmental protection and security issues, German Federal Chancellor Olaf Scholz said at a meeting with Tajik President Emomali Rahmon in Astana, Asian media reported.

Scholz emphasised Germany’s interest in co-operating with Tajikistan and called on German companies with global influence to participate in the partnership. He said:

“We encourage German companies with worldwide influence to cooperate with Tajikistan.”

Global issues such as access to drinking water, melting glaciers, climate change and food security were also discussed.

President Rahmon noted the significant contribution of the German Society for International Co-operation (GIZ) and the German Development Bank (KfW) in supporting Tajikistan’s national strategies.

He recalled Germany’s role in the construction of the Tajikistan and Sebzor power plants in Badakhshan, as well as in the modernisation of the Nurek HPP, expressing confidence that this experience could be extended to the construction of the Rogun HPP.

Promising areas of co-operation include mining and processing of minerals, particularly rare earth elements, as well as expansion of bilateral co-operation in industry and agriculture, including export of Tajik products to Germany.

Turkmen-German relations

Meeting with German Chancellor Olaf Scholz will help strengthen Turkmen-German relations, Turkmen President Serdar Berdimuhamedov said during a meeting with Scholz at the Central Asia-Germany Summit in Astana.

Scholz emphasised Germany’s high interest in deepening partnership with Turkmenistan. He noted that Turkmenistan has earned international recognition for its wise policies and progressive initiatives. Both leaders expressed satisfaction with the opportunity to discuss key issues of bilateral co-operation, which is developing on the basis of trust and mutual respect.

President Berdimuhamedov emphasised the importance of systematic development of bilateral relations backed by 90 agreements and treaties.

He also noted the importance of inter-sectoral Days of Economy, business forums, exhibitions, activities of the Turkmen-German joint working group and the Eastern Committee of the German Economy, which contribute to effective interstate co-operation.

Astana is hosting the second Central Asia-Germany (5+1) summit. At the first 5+1 summit, held in Berlin last year, a strategic regional partnership programme was signed.

Read more HERE

[alejandrotrader]

Navigating the Global Economy: Why Financial Knowledge is More Important Than Ever

Global economy is dynamic and fluid and especially with advancement in technology, politics and other changes, it has never been easy to understand these changes. This is perhaps the most important reason why for people or companies to succeed in such systems, it becomes a very important factor that is the ability to navigate these complexities.

Current mains economic trends that define the future

In the recent past, several factors have influenced the growth of the economies including emergence of digital currencies, disruption of the global supply chain and changes in the trade policies. Anyone who is involved in investment or financial planning need to be aware of these trends to enable him/her to make good decisions. As such, the recognition of fluctuations in markets yields the ability for investors to grasp opportunity or threats and adjust multiple portfolios on the short and long terms.

Central Banks and Fiscal Policies: The Driving Force Behind Market Movements

Government policies and central banks play an influential role in economic performance. Their decisions on interest rates, inflation management, and stimulus programs can directly impact global markets. Investors who understand how these policies work and anticipate potential changes are better positioned to adapt and protect their wealth.

By analyzing the relationship between economic policies and market reactions, savvy investors can gain an edge in both traditional markets and emerging sectors, such as cryptocurrency and tech innovation.

Why Diversification is Important especially in times of Economic Volatility

This is why diversification of investment remains key particularly given todays volatile global economies. This way the risk can be diversified because assets are placed in different sectors, regions, and they are of a different class. Diversification makes portfolio less vulnerable in bad performing industries and stocks, and more ready to embrace good and significantly growing industries.

How ORION Wealth Academy Assists the Investors

In particular, all those who would like to study the subject of economics in greater detail or develop effective financial plans and strategies will find a set of useful educational materials at ORION Wealth Academy. These courses were created to assist people who tried to figure out all the connections between work on the world economy and one’s portfolio. Some of the subjects that learners at ORION Wealth Academy maybe interested in could include market analysis, risk management and sophisticated trading strategies in view of the current economic environment. In this way, providing learners with the applicable skills and knowledge, ORION assists investors in decision-making in the conditions of the bullish and the bearish market.

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For this year’s International Women’s Day, the United Nations calls on us to “Invest in Women: Accelerate Progress.” The theme highlights how, amid a global polycrisis, achieving gender equality is vital for the collective well-being of communities worldwide. It calls attention to the significant challenges that persist in ensuring gender-equitable outcomes: in particular, evidence from the 2023 Gender Snapshot projecting that 340 million women and girls will still be living in poverty by 2030 and highlighting a significant funding shortfall—an additional $360 billion investment needed to achieve SDG goals of gender equality.

As global calls for financing for gender equality continue, it is vital to center care in these conversations. Over the past few decades, while programs focusing on women’s inclusion into the formal economy have made promising strides, much of the labor traditionally performed by girls and women, such as domestic and care work, is unpaid and not accounted for in conventional economic models. Globally, women perform an estimated 76 percent of unpaid care work. Even when paid, care work is often characterized by low wages and inadequate working conditions, especially for the most marginalized workers.

This International Women’s Day, as we reflect upon the advances made in the struggle for gender equality and justice in the previous decades, policy and program design would also be strengthened from addressing the relative invisibility of women’s labor across informal and care economies.

Situating women in global development

Globally, women’s inclusion as stakeholders in development processes emerged in the 1970s as part of a transnational “Women in Development” movement, which sought to position women as central to development—both as agents and beneficiaries. The movement’s advocacy translated into significant policy shifts, beginning with the 1973 Percy Amendment to the U.S. Foreign Assistance Act, requiring that “U.S. foreign aid programs encourage and promote the integration of women into the national economies in the developing countries.”

In the following decade, a broad array of global actors began championing women’s role in development. For example, the OECD instituted the Guiding Principles for Supporting the Role of Women in Development in 1983, and the World Bank established a Women in Development division in 1987. Galvanized by the U.N. Decade for Women (1975), along with decades of feminist research and organizing across the Global South and North, such programs ranged from women workers’ rights to small scale social enterprise, the latter of which were contemporaneous with the ascendancy of neoliberal policies in the 1980s and the faith in increasingly market-based solutions toward development.

But much like the biologically deterministic category of “woman” itself, actors working in the women in development space were far from homogenous. Over the intervening decades, their work has pushed theory and practice in new directions, introducing debates over whether women’s economic inclusion should be separated from advocating structural transformations in the political economy and asking what the roles of gender, race, caste, class, ability, and geopolitics are in women’s development programs. This has led to new frameworks, including those emphasizing gender relations, intersectionality, and global redistributive politics, which continue to shape contemporary debates in the broader field of gender and development.

In many of these debates, the gendered division of labor has been at the center. For example, feminist research on social reproduction—which broadly refers to the paid and unpaid labor necessary to sustain human life, such as care work—highlights not only that such labor has historically been seen as “women’s work” but also how its devaluation is fundamental in reproducing inequality and patriarchy.

Building care infrastructures for a gender-equal future

So, while today’s calls to invest in gender equality can fuel transformative initiatives, there are also perils associated with focusing solely on women’s inclusion in the formal labor market. Evaluating progress through this lens can not only render women who perform domestic or care work as “unworthy, disposable others,” but can also erase how race, class, and geopolitics shape labor across all gender identities. A broader view of the economy, which encompasses concepts of care, is fundamental in creating a more gender-equal future. In fact, Sustainable Development Goal 5.4 underscores the importance of valuing unpaid work by providing essential public services and promoting shared household responsibilities.

Building care infrastructures that recognize, fairly compensate, and redistribute the care work performed predominately by the working class, migrants, and women of color can lead to a multitude of benefits, including ensuring better educational outcomes for children, improving women’s mental well-being, and expanding women’s access to economic opportunities. One example of how the redistribution of care work can lead to gender equality is adequate and well-incentivized paternity leave, which can increase mothers’ probability of reemployment, promote maternal health, and advance gender and economic equality. Additionally, recognizing unpaid care and domestic work can help promote the elimination of discriminatory social norms and deep-rooted stereotypes around ideas of gender and labor–ultimately contributing to building more inclusive societies for all gender identities.

Looking forward

As global stakeholders respond to this year’s International Women’s Day call, determining who, how, and what to invest in can facilitate progress toward more equitable and sustainable development goals.

Who: Using an intersectional lens can enable stakeholders to identify how different systems of oppression—and the particularities between them—marginalize individuals and communities across all gender identities, and who should be centered in policy and programs.

How: The root causes of marginalization may then be addressed through a critical reflection of power dynamics across and within development contexts, and empowering local communities to chart their paths toward justice and equality, which can also inform recent “localization” efforts championed by development actors such as the U.S. Agency for International Development.

What: Finally, such shifts toward intersectionality and localization may also benefit from directly addressing inequities at the household, community, and national levels—in particular, both domestic work at home and in paid sectors such as education and health care—by developing concrete tools and infrastructures that value and redistribute care burdens.

As we craft new strategies to carry forward the decades-long fight to transform systems that sustain inequality and patriarchy, reimagining the relationships between gender, labor, and the economy is essential to building a more just future for all.