Development of sustainable aquaculture project (DSAP): mid-term review report

Aquaculture, Fish culture, Pond Culture, Rice field aquaculture, Farmers, Bangladesh,

Substituting Wood with Nonwood Fibers in Papermaking: A Win-Win Solution for Bangladesh

Bangladesh is facing an acute shortage of fibrous raw materials for the production of pulp and paper. On the other hand, the demand for paper and paper products is increasing day by day. This study reviews the availability and suitability of nonwood raw materials for pulp production in Bangladesh. It shows that Bangladesh has a huge amount of unused jute fiber, which is highly suitable for papermaking in Bangladesh. Other agricultural wastes like rice straw, dhaincha, golpata fronds, cotton stalks, corn stalks, and kash are also available and may be used for some pulp production. Given the different properties of these different nonwood fibers, jute pulp can be used as a reinforcing agent with other nonwood pulps for the production of high quality paper in Bangladesh.Bangladesh, natural fibers, jute, paper making, pulp

The influence of Sufism on Eric–Emmanuel Schmitt’s work

This paper attempts to investigate Eric-Emmanuel Schmitt(1960- ), as a Western dramatist and mystical writer of Eastern traditions through a detailed, qualitative and critical analysis of one of his most important work, Monsieur Ibrahim and the Flowers of Quran . In the play , Sufi framework and Archetypal Theory is used to present plainly and briefly the main concepts of mysticism and, at the same time, to situate mysticism within the play. Here, the author finds that the title character takes on the role of a Sufi master, initiating the protagonist, Moses, into the way of the Sufi and to eventually become his successor. The author concludes that Schmitt is indeed influenced by the master and disciple relationship in the initiation and journey of Sufism.Keywords: Modern drama, Emmanuel Schmitt, Sufism, Theater, play, Monsieur Ibrahim and the Flowers of the Qur’a

US sector rotation with five-factor Fama–French alphas

In this paper, we investigate the risk-adjusted performance of US sector portfolios and sector rotation strategy using the alphas from the Fama–French five-factor model. We find that five-factor model fits better the returns of US sector portfolios than the three-factor model, but that significant alphas are still present in all the sectors at some point in time. In the full sample period, 50% of sectors generate significant five-factor alpha. We test whether such alpha signifies a true sector out/underperformance by applying simple long-only and long-short sector rotation strategies. Our long-only sector rotation strategy that buys a sector with a positive five-factor alpha generates four times higher Sharpe ratio than the S & P 500 buy-and-hold. If the strategy is adjusted to switch to the risk-free asset in recessions, the Sharpe ratio achieved is tenfold that of the buy-and-hold. The long-short strategy fares less well

Examining the impact of heterogeneous nitryl chloride production on air quality across the United States

The heterogeneous hydrolysis of dinitrogen pentoxide (N₂O₅) has typically been modeled as only producing nitric acid. However, recent field studies have confirmed that the presence of particulate chloride alters the reaction product to produce nitryl chloride (ClNO₂) which undergoes photolysis to generate chlorine atoms and nitrogen dioxide (NO₂). Both chlorine and NO₂ affect atmospheric chemistry and air quality. We present an updated gas-phase chlorine mechanism that can be combined with the Carbon Bond 05 mechanism and incorporate the combined mechanism into the Community Multiscale Air Quality (CMAQ) modeling system. We then update the current model treatment of heterogeneous hydrolysis of N₂O₅ to include ClNO₂ as a product. The model, in combination with a comprehensive inventory of chlorine compounds, reactive nitrogen, particulate matter, and organic compounds, is used to evaluate the impact of the heterogeneous ClNO₂ production on air quality across the United States for the months of February and September in 2006. The heterogeneous production increases ClNO₂ in coastal as well as many in-land areas in the United States. Particulate chloride derived from sea-salts, anthropogenic sources, and forest fires activates the heterogeneous production of ClNO₂. With current estimates of tropospheric emissions, it modestly enhances monthly mean 8-h ozone (up to 1–2 ppbv or 3–4%) but causes large increases (up to 13 ppbv) in isolated episodes. This chemistry also substantially reduces the mean total nitrate by up to 0.8–2.0 μg m⁻³ or 11–21%. Modeled ClNO₂ accounts for up to 6% of the monthly mean total reactive nitrogen. Sensitivity results of the model suggest that heterogeneous production of ClNO₂ can further increase O₃ and reduce TNO₃ if elevated particulate-chloride levels are present in the atmosphere

Biomass combustion systems. A guide for monitoring and efficient operation

In developing countries, biomass represents the main source of energy with 300 to 375 million tonnes being used in small- to medium-scale industries. This industrial use causes local wood supply and associated deforestation problems which can be alleviated by efficient use of the fuel. This publication, which forms part of a series, is intended for use by plant operators and researchers in the field of biomass combustion to enable the evaluation of plant performance and provide the means to improve it. Combustion calculations including stoichiometric air requirements, theoretical flue gas composition and diabatic flame temperatures are explained in detail. Fuel properties of over 140 biomass materials are tabulated. A wide range of equipment is available for biomass combustion, some of which is derived from systems designed for solid fossil fuel combustion. Some of the considerations required to adapt such equipment are covered and a brief review of the different types of solid fuel combustion systems is included. Procedures and instrumentation for measurement of gas composition and temperatures in combustion equipment are reviewed and the advantages and disadvantages of each type of instrument are discussed. Methods for correcting systematic errors in gas temperature measurement are explained. The results of the measurements can be used to calculate the efficiency of the combustion system and the magnitude of the different losses

A tale of two states: asymmetries in the UK small, value and momentum premiums

This article performs comparative analysis of the asymmetries in size, value and momentum premium and their macroeconomic determinants over the UK economic cycles, using Markov switching approach. We associate Markov switching regime 1 with economic upturn and regime 2 with economic downturn. We find clear evidence of cyclical variations in the three premiums, most notable being that in the size premium, which changes from positive in expansions to negative in recessions. Macroeconomic indicators prompting such cyclicality the most are variables that proxy credit market conditions, namely the interest rates, term structure and credit spread. Overall, macro factors tend to have more significant impact on the three premiums during economic downturns. The results are robust to the choice of information variable used in modelling transition probabilities of the two-stage Markov switching model. We show that exploiting cyclicality in premiums proves particularly profitable for portfolios featuring small cap stocks in recessions at a feasible level of transaction costs

A guide to survival of momentum in UK style portfolios

In this study we estimate the survival time of momentum in six UK style portfolio returns from October 1980 to June 2014. We utilise the Kaplan-Meier estimator, a non-parametric method that measures the probability that momentum will persist beyond the present month. This probability enables us to compute the average momentum survival time for each of the six style portfolios. Discrepancies between these empirical mean survival times and those implied by theoretical models [Random Walk and ARMA (1, 1)] show that there is scope for profiting from momentum trading. We illustrate this by forming long-only, short-only and long-short trading strategies that exploit positive and negative momentum and their average survival time. These trading strategies yield considerably higher Sharpe ratios than the comparative buy-and-hold strategies at a feasible level of transaction costs. This result is most pronounced for the long/short strategies. Our findings remain robust during the 2007/2008 financial crisis and the aftermath, suggesting that Kaplan-Meier estimator is a powerful tool for designing a profitable momentum strategy