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World Bank: Commodity prices likely to rise further in 2018

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Oil prices are forecast to rise to $56 a barrel in 2018 from $53 this year as a result of steadily growing demand, agreed production cuts among oil exporters and stabilizing U.S. shale oil production, while the surge in metals prices is expected to level off next year, the World Bank said on Thursday.

Prices for energy commodities – which include oil, natural gas, and coal — are forecast to climb 4 percent in 2018 after a 28 percent leap this year, the World Bank said in its October Commodity Markets Outlook. The metals index is expected to stabilize in the coming year, after a 22 percent jump this year as a correction in iron ore prices is offset by increased prices in other base metals. Prices for agricultural commodities, including food commodities and raw materials, are anticipated to recede modestly in 2017 and edge up next year.

“Energy prices are recovering in response to steady demand and falling stocks, but much depends on whether oil producers seek to extend production cuts,” said John Baffes, Senior Economist and lead author of the Commodity Markets Outlook. “Developments in China will play an important role in the price trajectory for metals.”

The oil price forecast is a small downward revision from the April outlook and is subject to risks. Supplies from producers such as Libya, Nigeria, and Venezuela could be volatile. Members of the Organization of the Petroleum Exporting Countries (OPEC) and other producers could agree to cut production further, maintaining upward pressure on prices.

However, failure to renew the agreement could drive prices down, as could increased production from the U.S. shale oil industry. Natural gas prices are expected to rise 3 percent in 2018, while coal prices are seen retreating following a climb of nearly 30 percent in 2017. China’s environmental policies are anticipated to be a key factor determining future trends in coal markets.

Iron ore prices are forecast to tumble 10 percent in the coming year but tight supply should push up prices for base metals including lead, nickel and zinc.  Downside risks to the forecast include slower-than-anticipated demand from China, or an easing of production restrictions on China’s heavy industries.

Gold prices are anticipated to ease next year on expectations of higher U.S. interest rates.

Agriculture prices are expected to edge up in 2018 due to reduced supplies, with grain and oils and meals prices rising marginally. Agricultural commodities markets are well-supplied and the stocks-to-use ratios (a measure of how well supplied markets are) of some grains are forecast to be at multi-year highs.

However, favorable weather patterns, well-supplied global food markets, and relatively low world prices do not necessarily imply ample food availability everywhere. Drought conditions that are by some accounts the worst in 60 years, have caused crops failures in parts of Ethiopia, Somalia and Kenya and led to severe food shortages. Conflicts in South Sudan, Yemen and Nigeria have driven millions of people from their homes and left millions more in need of emergency food.

The World Bank’s Commodity Markets Outlook provides detailed market analysis for major commodity groups, including energy, metals, agriculture, precious metals, and fertilizers. The report includes price forecasts to 2030 for more than 45 commodities. It also provides historical price data and supply, demand, and trade balances for most commodities.

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Finance

Reasons for Choosing Temporary and Permanent Industrial Buildings

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Professional temporary solution providers have become very innovative in designing industrial buildings. While temporary industrial structures are made of lighter materials such as aluminum and fabric or PVC covers, permanent solutions are made of steel or metal frames and sheets. All of them require good preparation of the ground, pre-fabrication of the frames and sheets, and proper installation to serve their purpose well.

Most beneficiaries of these structures are processing factories, manufacturing plants, sports clubs, schools, and many other organizations and companies. Choosing temporary and permanent industrial buildings from a reputable supplier has many perks.

So, let us dive into the reasons for choosing temporary and permanent industrial buildings to understand this topic better.

Amazing Speed of Constructions

Bye-bye brick and mortar industrial buildings that are time-consuming. Temporary and permanent industrial buildings are the way to go because they are fast and easy to fabricate and install using modern technology.

According to experts, these structures save a lot of time, especially if the frames and panels are already fabricated in the factory. Companies that need to set up new companies or expand the current ones will have everything ready in a matter of a few weeks.

Excellent Cost Saving

The economy is hard enough and the investor needs to save on capital when setting up companies or doing expansions. The good news is that temporary and permanent industrial buildings save costs by up to 30% when done by a professional company.

Smart-Space is not only innovative in their technology but they save you a lot of money when setting up your industrial structures. You can rent these structures if you only need them for a short time to save more money.

Absolute Flexibility and Versatility

If you are looking for structures that can be moved after a few years, then temporary and permanent industrial buildings are the way to go. As mentioned, they are made of frames and panels that are fastened together using bolts. Hence, they are easy to dismantle and move to a different location.

However, this work should be done by professionals to reduce damage and ensure the safety of the structures at all times.

High Level of Customization

If you are looking for functional sizes and unique designs that will maintain the theme of your company or organization, the temporary and permanent industrial buildings done by experts will be best. After a discussion of what will serve your business well, the solution provider will take a few days to do the designs with your preferred sizes and colors.

Customization also applies during the extension of an existing factory where everything is done to your preference or in the best possible way. To achieve a high level of customization, you should consider experienced solution providers.

Surprising Durability

Both temporary and permanent industrial buildings are surprisingly durable. Take steel industrial structures for example. They provide service for many years without the need for complicated maintenance. Since steel does not rust, the structure will withstand harsh weather conditions including moisture.

Structures made of metal frames and fabric are equally durable, especially when used as recommended. They also require low maintenance with no paintwork needed after every few years.

Manufacturer’s Warranty

The buyers of temporary and permanent industrial buildings enjoy different manufacturer’s warranty benefits. This could be the bought structures or the materials used to make them. What’s more is that many reputable service providers also give warranties on the workmanship, which will save cost when there is a problem.

Conclusion

To enjoy all of these benefits, it is good to buy or lease your temporary and permanent industrial buildings from a reliable and trusted supplier. Well, there are even more benefits that you will realize once you start using these structures. So, make the right choice now.

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EU Politics

Coronavirus: EU Strategy for the development and availability of therapeutics

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The European Commission is today complementing the successful EU Vaccines Strategy with a strategy on COVID-19 therapeutics to support the development and availability of much-needed COVID-19 therapeutics, including for the treatment of ‘long COVID’. Today’s Strategy covers the full lifecycle of medicines: from research, development and manufacturing to procurement and deployment.

It is part of the strong European Health Union, in which all EU countries prepare and respond together to health crises and ensure the availability of affordable and innovative medical supplies – including the therapeutics needed to treat COVID-19.

The Strategy includes clear actions and targets, including authorising three new therapeutics to treat COVID-19 by October 2021 and possibly two more by end of the year. Concretely:

  • Research, development and innovation
    • Invest €90 million in population studies and clinical trials to establish links between risk factors and health outcomes to further inform public health policy and clinical management, including for long-COVID patients.
    • Set up a ‘therapeutics innovation booster’ by July 2021 to support the most promising therapeutics from preclinical research to market authorisation. It will build on current initiatives and investments in therapeutic development, working in a close cooperation with the European Health Emergency Preparedness and Response Authority (HERA) preparatory action on mapping therapeutics. It will therefore ensure the coordination of all research projects on COVID-19 therapeutics, stimulating innovation and boosting therapeutic development.
  • Access to and swift approval of clinical trials
    • Invest €5 million under the EU4Health programme to generate better, high-quality safety data in clinical trials, which will help produce robust results in a timely manner.
    • Provide EU countries with financial support of €2 million under the EU4Health 2021 work programme for expedited and coordinated assessments to facilitate approval of clinical trials.
    • Explore how to support developers of therapeutics to build capacity to produce high-grade material for clinical trials.
  • Scanning for candidate therapeutics
    • Invest €5 million to map therapeutics and diagnostics to analyse development phases, production capacities and supply chains, including possible bottlenecks.
    • Establish a broader portfolio of 10 potential COVID-19 therapeutics and identify five of the most promising ones by June 2021.
  • Supply chains and delivery of medicines
    • Fund a €40 million preparatory action to support flexible manufacturing and access for COVID-19 therapeutics under the EU Fab project, which in turn will become over time an important asset for the future the European Health Emergency Preparedness and Response Authority (HERA).
  • Regulatory flexibility
    • Authorise at least three new therapeutics by October and possibly two more by the end of the year and develop flexible regulatory approaches to speed up the assessment of promising and safe COVID-19 therapeutics.
    • Start seven rolling reviews of promising therapeutics by end-2021, subject to research and development outcomes.
  • Joint procurement and financing
    • Launch new contracts for the purchase of authorised therapeutics by the end of the year.
    • Secure faster access to medicines with shorter administrative deadlines.
  • International cooperation to make medicines available to all
    • Reinforce engagement for the therapeutics pillar of the Access to COVID-19 Tools Accelerator.
    • Boost ‘OPEN’ initiative for international collaboration.

Next Steps

The Commission will draw up a portfolio of 10 potential COVID-19 therapeutics and by June 2021, identify the five most promising ones. It will organise matchmaking events for industrial actors involved in therapeutics to ensure enough production capacity and swift manufacturing. New authorisations, rolling reviews and joint procurement contracts will be up and running before the end of the year.

The therapeutics innovation booster, matchmaking events and preparatory action to support flexible manufacturing and access for COVID-19 therapeutics under the EU Fab project, will feed into the HERA, for which a proposal is due later in the year. The pilot project on access to health data will feed into the European Health Data Space proposal expected later this year.

Members of the College said:

Vice-President for Promoting our European Way of Life, Margaritis Schinas, said: “The situation in many intensive care units across the continent remains critical. We need to focus both on vaccines and therapeutics, as two powerful and complementary ways to combat COVID-19. But currently we have only one authorised medicine to treat COVID-19. By acting on better availability of medicines today, we are making sure patients receive the treatments they need while also preparing our future biomedical preparedness. A coordinated strategy on quick access to therapeutics will boost our strategic autonomy and contribute to a strong Health Union.”

Commissioner for Health and Food Safety, Stella Kyriakides, said: “Vaccinations save lives, but they cannot yet eradicate COVID-19. We need a strong push on treatments to limit the need for hospitalisation, speed up recovery times, and reduce mortality. Patients in Europe and across the world should have access to world-class COVID-19 medicines. This is why we have set a very clear goal: by October, we will develop and authorise three new effective COVID-19 therapeutics that can have the potential to change the course of the disease. We will do so by investing in research and innovation, the identification of new promising medicines, ramping up production capacity and supporting equitable access. Our Therapeutics Strategy is a strong European Health Union in action.”

Commissioner for Innovation, Research, Culture, Education and Youth, Mariya Gabriel, said: “By increasing vaccine availability across Europe, more and more Europeans are now protected against COVID-19. In the meantime, the development of innovative medicines to treat coronavirus patients remains a priority when it comes to saving lives. Research and innovation is the first step to finding effective and safe therapeutics, which is why we are proposing to establish a new COVID-19 ‘therapeutics innovation booster’ and will invest € 90 million in population studies and clinical trials.

Background

The Strategy on COVID-19 therapeutics complements the EU strategy for COVID-19 vaccines from June 2020 and builds on ongoing work by the European Medicines Agency and the Commission to support research, development, manufacturing and deployment of therapeutics.

The Strategy forms part of a strong European Health Union, using a coordinated EU approach to better protect the health of our citizens, equip the EU and its Member States to better prevent and address future pandemics, and improve the resilience of Europe’s health systems.

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Development

Circular solution to Mosul’s conflict debris launched

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Photo credit: Gashtiyar Fathullah , IOM / 04 May 2021

Mosul – Iraq’s second largest city – suffered massive devastation during the conflict with the Islamic State in Iraq and the Levant (ISIL). An estimated 7-8 million tonnes of debris was created by the fighting, mainly in the Old City on the banks of the Tigris River. To deal with this huge debris challenge, the UN Environment Programme (UNEP) and the International Organization for Migration (IOM) are joining forces with Mosul Municipality – with the support of Japan – to establish the city’s first debris recycling center.

In the conflict’s immediate aftermath, clean-up campaigns cleared hundreds of thousands of tons of debris blocking streets to allow residents access to their homes and businesses, and enable rehabilitation of critical infrastructure such as hospitals, schools and water treatment plants.

The cleared debris, however, was often dumped in an uncontrolled manner in open spaces, gullies and strewn along roadsides for lack of designated disposal sites, creating problems in this city where land is a premium. Furthermore, much of the debris remains locked in damaged buildings which will require complex explosive hazard clearance and demolition and will take many years to release.

“By processing the rubble to produce quality materials that can be used in reconstruction efforts, creating much needed job opportunities for returnees and cleaning-up the urban environment, this initiative practically illustrates how humanitarian needs and sustainable development goals can be addressed in a joint manner,” said Dr. Jassim Humadi, Iraq’s Deputy Environment Minister.  “We are very grateful to the Government of Japan for their support in helping turn the debris problem in Mosul into a means of positive change.”  

The project builds upon lessons learned and best practices gathered under debris recycling pilots implemented jointly by IOM and UNEP in Mosul and Kirkuk. Where conventional practice had been to clear and dump the debris, this new initiative will concentrate on reusing the recycled aggregate for reconstruction.

“Material testing results confirming that the recycled aggregate complies with Iraq’s standards for road construction should also help pave the way for embedding circular economy principles in dealing with routine construction and demolition waste, thereby promoting a ‘building back better’ approach to crisis recovery,” said Gary Lewis, Director of UNEP’s Disasters and Conflicts Branch.

In the destroyed village of Buwaiter, where the pilot debris recycling project in Kirkuk was implemented, “unemployed youth with no work opportunities benefited immensely,” said Salal Othman, who guards the recycling site and used the crushed gravel to pave the area in front of his house, which is typically impassable during the rains.

“Young people in our village view debris recycling as a golden chance in terms of job creation, which additionally, by clearing the rubble, is allowing us to return and rebuild our homes,” added Mijbel Mar’i, a 24-year-old day labourer.

Remarking on the debris recycling in Buwaiter, Hassan Al-Jubouri, the head of Multaqa sub-district, described it as “an excellent step to dispose of huge volumes of debris while simultaneously employing people,” adding that “with this project, in addition to removing the debris we now have the possibility to reuse it. And given that many rural roads in our sub-district need surfacing, the crushed materials are ideal for this end.”

“Japan has provided over USD 500 million as humanitarian assistance to the people affected by the crisis since 2014. Additionally, Japan decided this year to provide a new assistance package to Iraq, amounting to USD 50 million, including this project by UNEP,” said Japan’s Ambassador to Iraq, His Excellency Mr. Kotaro Suzuki. “I commend UNEP’s initiative together with IOM on recycling debris which cleans up the urban environment and produces materials for road construction as well as creating job opportunities for unemployed youth.”

“In Japan, after the earthquakes, people mourned their loss and started to clean up the debris which was all that was left of their homes and memories of loved ones. Our fathers’ generation did the same in scorched cities after the war, to rebuild towns for their people, for their future children,” he added. “We want to assist people in Mosul and Kirkuk in their efforts to revive their towns, rebuild their lives once again.”

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