A time-scale analysis of systematic risk: wavelet-based approach

The paper studies the impact of different time-scales on the market risk of individual stock market returns and of a given portfolio in Paris Stock Market by applying the wavelet analysis. To investigate the scaling properties of stock market returns and the lead/lag relationship between them at different scales, wavelet variance and crosscorrelations analyses are used. According to wavelet variance, stock returns exhibit long memory dynamics. The wavelet cross-correlation analysis shows that comovements between stock returns are stronger at higher scales (lower frequencies); scales corresponding to period of 4 months and longer, i.e. scales 7 and 8. The wavelet analysis of systematic risk shows that all individual assets and the diversified portfolio have a multi-scale behavior, which indicates that the systematic risk measured by Beta in the market model is not stable over time. The analysis of VaR at different time scales shows that risk is more concentrated at higher frequencies dynamics (lower time scales) of the data

A time-scale analysis of systematic risk: wavelet-based approach

The paper studies the impact of different time-scales on the market risk of individual stock market returns and of a given portfolio in Paris Stock Market by applying the wavelet analysis. To investigate the scaling properties of stock market returns and the lead/lag relationship between them at different scales, wavelet variance and crosscorrelations analyses are used. According to wavelet variance, stock returns exhibit long memory dynamics. The wavelet cross-correlation analysis shows that comovements between stock returns are stronger at higher scales (lower frequencies); scales corresponding to period of 4 months and longer, i.e. scales 7 and 8. The wavelet analysis of systematic risk shows that all individual assets and the diversified portfolio have a multi-scale behavior, which indicates that the systematic risk measured by Beta in the market model is not stable over time. The analysis of VaR at different time scales shows that risk is more concentrated at higher frequencies dynamics (lower time scales) of the data

The Adsorptive Removal of Bengal Rose by Artichoke Leaves: Optimization by Full Factorials Design

Currently, the dye industry is increasing its production as a consequence of the growing need for their products in different manufacturing sectors, such as textiles, plastics, food, paper, etc... Thereafter, these industries generate very large volumes of effluents contaminated by these dyes, which require proper removal treatment before final discharge of the effluents into the environment. In this study, artichoke leaves were used as an economical and eco-friendly bio-adsorbent for Bengal Rose (BR) dye removal. Bio-adsorbent obtained from artichoke leaves was ground to powder size. The resulting powder was characterized by different methods, such as Brunauer-Emmett-Teller (BET) surface area analysis, scanning electron microscopy(SEM), X-ray Diffraction (XRD), Fourier transfer infrared (FTIR), pH at point of zero charge (pHpzc), equilibrium pH, iodine number, methylene blue number, phenol number, density, Energy dispersive X-ray spectroscopy (EDX) and Thermo-gravimetric analysis (TGA). Thereafter, the bio-adsorbent was used to study its capability for removing BR dye by testing contact time, initial concentration of dye and temperature. The results show that the saturation of bio-sorbent was reached after 40 min and the removal rate of BR dye by artichoke leaves powder (ALP) was 4.07 mg/g, which corresponds to a removal efficiency of 80.1%. A design of experiences (DOE) based on a two-level full factorial design (23) was used to study the effects of different parameters, such as pH, temperature and bio-adsorbent dosage on BR dye removal efficiency. The obtained results show that the highest removal efficiency was 86.5% for the optimized values of pH (4), temperature (80 °C) and bio-adsorbent dosage (8 g/L). Furthermore, a satisfying accordance between experimental and predicted data was observed. The kinetic and isotherm studies show that the pseudo-second order model simulated adequately the obtained data and it was found that Langmuir and Temkin isotherm models are liable and suitable for evaluating the adsorption process performance. Free energy change of adsorption (ΔG°), enthalpy change (ΔH°) and entropy change (ΔS°) were furthermore calculated to predict the nature of the adsorption process

A review of the features and applications of ZIF-8 and its derivatives for separating CO2 and isomers of C3- and C4- hydrocarbons

Metal organic framework (MOF) membranes have gained more attentions due to their abilities in various applications in gas and liquid separations. The majority of works are related to Zeolite imidazolate frameworks-8 (ZIF-8). This is often attributed to its high stability, easy synthesis, and good gas separation. They have gained a significant interest of scientists and have the aptitude to be utilized in other gas separations and applications. Indeed, the investigation of the literatures revealed that ZIF-8 and its derivatives have a substantial attention due to of its good properties as its large specific surface area, “gate opening” mechanism, etc …, which makes them special in adsorption/membrane separations and other associated aspects. The applications of ZIF-8 based materials for carbon dioxide (CO2) gas adsorption and the C3- and C4- isomers’ (propane, propylene, n-butane and isobutane) gas separation also are discussed. Statistical physics approach was applied throughout this review as a perfect tool to discuss and understand properties of ZIF-8, especially the “gate opening pressure”. Subsequently, this review points to present highlights and applications of ZIF-8 and its derivatives for the purpose of carbon dioxide and hydrocarbon separations. Additionally, this study considers recent advancements of ZIF-8 synthesis and prospects for its use in gas separation. This study can help to better understand effective features of a sorbent and methods for gas separation process. As theoretical discussions are referred to as a crucial issue, this is the first study on Zeolitic Imidazolate Framework (ZIF) membrane application, which provides the use of statistical physics theoretical approach and considers the effect of nanogate opening pressures.Open Access funding provided by the Qatar National Library.Scopus2-s2.0-8511739324

Estimation of the economic impact of a bluetongue serotype 4 outbreak in Tunisia

IntroductionSince 1999, Tunisia has experienced multiple occurrences of Bluetongue (BT) outbreaks, leading to numerous reported cases of infection and mortality in flocks. The re-emergence of the disease in 2020 caused substantial economic losses in cattle, attributed to the incursion of serotype BTV-4.MethodsTo evaluate the economic impact of the recent BT episode, we conducted a retrospective study on outbreaks that occurred in Tunisia between August and November 2020, focusing on the impact at the owner’s level and its effects on both small ruminants and cattle. A total of 234 ruminant farms (sheep, cattle, and mixed) were randomly selected across Tunisian governorates and included in the study to estimate both the direct and indirect costs of these outbreaks.ResultsTotal costs were calculated as the sum of losses and expenditures resulting from the BT outbreaks. At the animal level, total losses were estimated to range between 116.280 and 207.086 TND for one infected ewe (€33.721 and 60.055). For one lactating cow, costs varied between 2,590.724 and 3,171.107 TND (€751.310 and 919.621). In cattle, exposure to BTV led to a daily unit milk yield decrease of 12.50 to 14.66 L over an average period of 5 months. Diseased sheep experienced weight loss ranging between 4 and 10 kg during the BT outbreaks. The total mean cost of the 2020 BT outbreak in Tunisian investigated farms was estimated at 1,935 million TND (million €561.15) (range: 1,489 and 2,474 million TND; 431.81 and million €717.46). The most influential costs of the total BT outbreaks were the decrease in milk yield, mortality, and veterinary treatment.DiscussionThis study gives valuable insights on the economic impact of the incursion of a new serotype of BT in a naive population in Tunisia. Considering the substantial costs incurred, it is imperative that this disease receives increased attention from stakeholders, including animal owners, veterinary services, practitioners, and decision-makers

First draft genome assembly of the Argane tree (Argania spinosa)

Background: The Argane tree (Argania spinosa L. Skeels) is an endemic tree of southwestern Morocco that plays an important socioeconomic and ecologic role for a dense human population in an arid zone. Several studies confirmed the importance of this species as a food and feed source and as a resource for both pharmaceutical and cosmetic compounds. Unfortunately, the argane tree ecosystem is facing significant threats from environmental changes (global warming, over-population) and over-exploitation. Limited research has been conducted, however, on argane tree genetics and genomics, which hinders its conservation and genetic improvement. Methods: Here, we present a draft genome assembly of A. spinosa. A reliable reference genome of A. spinosa was created using a hybrid de novo assembly approach combining short and long sequencing reads. Results: In total, 144 Gb Illumina HiSeq reads and 7.2 Gb PacBio reads were produced and assembled. The final draft genome comprises 75 327 scaffolds totaling 671 Mb with an N50 of 49 916 kb. The draft assembly is close to the genome size estimated by k-mers distribution and covers 89% of complete and 4.3 % of partial Arabidopsis orthologous groups in BUSCO. Conclusion: The A. spinosa genome will be useful for assessing biodiversity leading to efficient conservation of this endangered endemic tree. Furthermore, the genome may enable genome-assisted cultivar breeding, and provide a better understanding of important metabolic pathways and their underlying genes for both cosmetic and pharmacological purposes

First draft genome assembly of the Argane tree (Argania spinosa) [version 2; peer review: 2 approved]

BACKGROUND : The Argane tree (Argania spinosa L. Skeels) is an endemic tree of mid-western Morocco that plays an important socioeconomic and ecologic role for a dense human population in an arid zone. Several studies confirmed the importance of this species as a food and feed source and as a resource for both pharmaceutical and cosmetic compounds. Unfortunately, the argane tree ecosystem is facing significant threats from environmental changes (global warming, over-population) and over-exploitation. Limited research has been conducted, however, on argane tree genetics and genomics, which hinders its conservation and genetic improvement. METHODS : Here, we present a draft genome assembly of A. spinosa. A reliable reference genome of A. spinosa was created using a hybrid de novo assembly approach combining short and long sequencing reads. RESULTS : In total, 144 Gb Illumina HiSeq reads and 7.6 Gb PacBio reads were produced and assembled. The final draft genome comprises 75 327 scaffolds totaling 671 Mb with an N50 of 49 916 kb. The draft assembly is close to the genome size estimated by k-mers distribution and covers 89% of complete and 4.3 % of partial Arabidopsis orthologous groups in BUSCO. CONCLUSION : The A. spinosa genome will be useful for assessing biodiversity leading to efficient conservation of this endangered endemic tree. Furthermore, the genome may enable genome-assisted cultivar breeding, and provide a better understanding of important metabolic pathways and their underlying genes for both cosmetic and pharmacological.DATA AVAILABILITY: All of the A. spinosa datasets can be retrieved under BioProject accession number PRJNA294096: http://identifiers.org/ bioproject:PRJNA294096. The raw reads are available at NCBI Sequence Reads Archive under accession number SRP077839: http://identifiers.org/insdc.sra:SRP077839. The complete genome sequence assembly project has been deposited at GenBank under accession number QLOD00000000: http://identifiers. org/ncbigi/GI:1408199612. Data can also be retrieved via the International Argane Genome Consortium (IAGC) website: http://www.arganome.org.https://f1000research.compm2021BiochemistryGeneticsMicrobiology and Plant Patholog

Thermal characterization of a new effective building material based on clay and olive waste

The influence of thermophysical properties of wall materials on energy performance and comfort in traditional building was investigated. The clay is the most commonly used sustainable building material. The study looked at the effects of the addition of pomace olive on the thermophysical properties of clay bricks to improve the energy efficiency of this ecological material. An experimental measurement of thermal properties of clay mixed with pomace olive was carried out by using the transient and steady state hot-plate and flash methods. The experimental methods are applied to measure the thermal properties of the composite material. The estimation of these thermal characteristics is based on a one dimensional model and the experimental errors are found less than 3%. The composite samples were prepared with different granular classes and mass fractions of the pomace olive in the mixture. The results show that the density of the new material was not substantially influenced by the size of the pomace olive. However, the thermal conductivity and diffusivity decrease from 0.65 W.m-1.K-1 and 4.21×10-7 m2.s-1 to 0.29 W.m-1.K-1 and 2.47×10-7m2.s-1, respectively, according to the variation of the volume fraction of pomace olive from 0 (pure clay) to 71% showing that the olive pomace can be used as effective secondary raw materials in the making of clay bricks

Thermal characterization of a new effective building material based on clay and olive waste

The influence of thermophysical properties of wall materials on energy performance and comfort in traditional building was investigated. The clay is the most commonly used sustainable building material. The study looked at the effects of the addition of pomace olive on the thermophysical properties of clay bricks to improve the energy efficiency of this ecological material. An experimental measurement of thermal properties of clay mixed with pomace olive was carried out by using the transient and steady state hot-plate and flash methods. The experimental methods are applied to measure the thermal properties of the composite material. The estimation of these thermal characteristics is based on a one dimensional model and the experimental errors are found less than 3%. The composite samples were prepared with different granular classes and mass fractions of the pomace olive in the mixture. The results show that the density of the new material was not substantially influenced by the size of the pomace olive. However, the thermal conductivity and diffusivity decrease from 0.65 W.m-1.K-1 and 4.21×10-7 m2.s-1 to 0.29 W.m-1.K-1 and 2.47×10-7m2.s-1, respectively, according to the variation of the volume fraction of pomace olive from 0 (pure clay) to 71% showing that the olive pomace can be used as effective secondary raw materials in the making of clay bricks