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As of January 1, 2020, the upper limit of sulfur emissions outside emission control areas decreased from 3.5% to 0.5%. This paper aims to present some of the challenges associated with the implementation of the sulfur cap and investigates its possible side effects as regard the drive of the International Maritime Organization (IMO) to reduce carbon dioxide (CO₂) emissions. Even though it would appear that the two issues (desulfurization and decarbonization) are unrelated, it turns out that there are important cross-linkages between them, which have not been examined, at least by the regulators.

A literature review and a qualitative risk assessment of possible CO₂ contributors are presented first. A cost-benefit analysis is then conducted on a specific case study, so as to assess the financial, as well as the environmental impact of two main compliance choices, in terms of CO₂ and sulfur oxide.

From a financial perspective, the choice of a scrubber ranks better comparing to a marine gas oil (MGO) choice because of the price difference between MGO and heavy fuel oil. However, and under different price scenarios, the scrubber choice remains sustainable only for big vessels. It is noticed that small containerships cannot outweigh the capital cost of a scrubber investment and are more sensitive in different fuel price scenarios. From an environmental perspective, scrubber ranks better than MGO in the assessment of overall emissions.

Fuel price data in this paper was based on 2019 data. As this paper was being written, the COVID-19 pandemic created a significant upheaval in global trade flows, cargo demand and fuel prices. This made any attempt to perform even a rudimentary ex-post evaluation of the 2020 sulfur cap virtually impossible. Due to limited data, such an evaluation would be extremely difficult even under normal circumstances. This paper nevertheless made a brief analysis to investigate possible COVID-19 impacts.

The main implication is that the global sulfur cap will increase CO₂ emissions. In that sense, this should be factored in the IMO greenhouse gas discussion.

According to the knowledge of the authors, no analysis examining the impact of the 2020 sulfur cap on CO₂ emissions has yet been conducted in the scientific literature.

The study examined a wide range of proactive supply chain practices to demonstrate a cross-linkage among them and to understand their effects on both practitioners of previous decision-making models, frameworks, strategies and policies. Here, six supply chain practices are empirically evaluated based on 28 constructs to investigate a comprehensive model and confirm the connections for achieving performance and competence. The study presents a conceptual model and examines the influence of many crucial factors, i.e. supply chain collaboration, knowledge, information sharing, green human resources (GHR) management and lean-green (LG) practices on supply chain performance.

Structural equation modeling (SEM) examines the conceptual model and allied relationship. A sample of 175 respondents' data was collected to test the hypothesized relations. A resource based view (RBV) was adopted, and the questionnaires-based survey was conducted on the Indian supply chain professionals to explore the effect of LG and green human resource management (GHRM) practices on supply chain performance.

The study presented five constructs for supply chain capabilities (SCCA), five constructs for supply chain collaboration and integration (SCIN), four constructs for supply chain knowledge and information sharing (SCKI), five constructs for GHR, five constructs for LG practices (LGPR) and four constructs for lean-green SCM (LG-SCM) firm performance to be utilized for validation by the specific industry, company size and operational boundaries for attaining sustainability. The outcome emphasizes that SCCA positively influence GHRM, LG practices and LG supply chain firm performance. However, LG practices do not influence LG-SCM firm performance, particularly in India.

The study exploited multiple practices in a conceptual model to provide a widespread understanding of decision-making to assist in developing a holistic approach based on different practices for attaining organizational sustainability. The study stimulates the cross-pollination of ideas between many supply chain practices to better understand SCCA, SCIN, SCKI, GHRM and LG-SCM under a single roof for retaining organization performance.

This paper seeks to examine the operation of an Islamic inter‐bank money market (IIMM), within a dual banking system.

The paper describes Malaysia's Islamic IIMM. It then examines some of the key risks associated with money market functions. An empirical examination of the extent to which yields in the IIMM are correlated with conventional money market yields is undertaken. The implication of this on interest‐rate exposure for the Islamic financial sector is discussed. Finally, the paper looks at some of the challenges and offers conclusions.

The paper argues that even though an Islamic money market operates in an interest‐free environment and trades Shariah‐compliant instruments, many of the risks associated with conventional money markets, including interest‐rate risks are relevant. The empirical evidence, based on Malaysian data, points to Islamic money market profit rates/yields that are highly correlated and move in tandem with conventional money market rates. Given the dynamics of fund flows and cross‐linkages, an IIMM operating within a dual banking system cannot sterilize itself from interest‐rate risks. In fact, the paper argues that such an IIMM may actually enhance interest‐rate risk transmission to the Islamic banking sector, by providing additional channels of transmission. Ironical as it may be, the operations of an IIMM in a dual banking system may serve to bring the Islamic banking sector into closer orbit with the conventional sector.

The paper offers insights into the IIMM, focusing on Malaysia.

At the onset of the Global Financial Crisis in 2007–2008, majority of the analysts and policymakers have anticipated contagion from the markets volatility in the advanced economies (AEs) to the emerging markets (EMs). This chapter examines the volatility spillovers from the AEs’ equity markets (Japan, the United States and Europe) to the four key EMs, the BRIC (Brazil, Russia, India and China).

The period under study, from 2000 through mid-2014, reflects a time of varying regimes in markets volatility, including the periods of dot.com bubble, the Global Financial Crisis and the European Sovereign Debt Crisis, the Great Recession and the start of the Russian-Ukrainian geopolitical crisis. To estimate volatility cross-linkages between the AEs and BRIC markets, we use multivariate GARCH-BEKK model across a number of specifications.

We find that, the developed economies weighted return volatility did have a significant impact on volatility across all four of the BRIC economies returns. However, contrary to the consensus view, there was no evidence of volatility spillover from the individual AEs onto BRIC economies with the exception of a spillover from Europe to Brazil. The implied forward-looking expectations for markets volatility had a strong and significant spillover effect onto Brazil, Russia and China, and a weaker effect on India.

The evidence on volatility spillovers from the AEs markets to EMs puts into question the traditional view of financial and economic systems sustainability in the presence of higher orders of integration of the global monetary and financial systems. Overall, data suggest that we are witnessing less than perfect integration between BRIC economies and AEs markets to-date can offer some volatility hedging opportunities for investors.

Our chapter contributes to the growing literature on volatility spillovers from the AEs to the EMs in a number of ways. Firstly, we provide a formal analysis of the spillovers to the BRIC economies over the periods of recent crises. Secondly, we make new conclusions concerning longer-term spillovers as opposed to higher frequency volatility contagion covered by the previous literature. Thirdly, we consider a new channel for volatility contagion – the trade-weighted AEs volatility measure.

To investigate changes at molecular level in lac‐resole blends, occurring due to the effect of thermal stress at higher temperatures and different intervals of baking time.

Films of lac‐resole blends were applied on tin‐panels and baked at 200°C for different time intervals. The baked films were examined by specular reflectance spectroscopy, as they were otherwise difficult to examine through conventional IR techniques, using KBr pellet method. The results obtained were compared and reported.

When lac‐resole blends are baked at 200°C, in addition to possible chromic ring structures, esters linkages are formed between lac and resole molecules through cross linkages among different reactive sites of lac and PF resin. Blend of 70 per cent lac: 30 per cent resole, baked at 200°C for 20 min was found to be the best in terms of different physico‐chemical properties.

Lac‐synthetic resin blends are structurally complex in nature. Chemical researches on such blends have been typically limited due to lack of modern tools. The present method, to determine molecular level changes in lac‐resole blends due to heating effects, using state‐of‐the‐art instrumentation and computational techniques, opens a new field for research and industry.

Lac and its blends retain their significance in the surface coatings and food applications, in the formulation of lacquers, varnishes and in the finishing industry. This study could have significant implication for such industries from application point of view.

As of now, there is no report of specular reflectance data on lac‐synthetic resin blends. This paper represents the first attempt to obtain and correlate reflectance data on such blends. It also highlights the convenience of the method and the scope of sophisticated data analysis, including derivative spectrometry.

To find out the molecular level changes in lac‐MF blends, occurring due to the effect of thermal stress on the blends at elevated temperature and at different intervals of baking time.

Films of lac‐MF blends, applied on tin panels were baked at 200°C for different time intervals. The baked films were examined by specular reflectance spectroscopy, as they were otherwise difficult to examine through conventional IR techniques, using KBr pellet method, due to their amorphous and tacky nature. The results obtained were compared and reported.

On baking the blends of lac‐MF resin at 200°C for different time intervals, cross‐polymerisation sets in via esterification and condensation. In addition to this, etherification may take place among different molecules of lac and MF resin. In terms of different physico‐chemical parameters, blends of 7:3 (w/w) lac:MF and of 1:1 (w/w) lac:MF were found to be better than blends of 3:7 (w/w) lac:MF, baked at 200°C for different time intervals.

Chemical researches on lac‐synthetic resin blends have been typically limited due to the complex nature of resins and also due to the lack of suitable modern tools and techniques. This has been solved using state‐of‐the‐art instrumentation and computational techniques, which may prove to be useful to industry and for research.

Lac and its blends retain their significance in diverse fields of applications, ranging from surface coatings and food applications, to the formulation of lacquers, varnishes and in the finishing industry. Findings made in this study could have significant application for such industries from an application point of view.

To date, there is no record of specular – reflectance and derivative spectrometric studies on lac‐synthetic resin blends. This paper represents the first attempt to obtain and correlate reflectance data on such blends. It also highlights the convenience of the method and the scope of sophisticated data analysis, including derivative spectrometry.

The aim of this study is to develop a soy‐based cream cheese (SCC) with textural characteristics comparable to that of commercial dairy cream cheese (DCC) via the addition of microbial transglutaminase (MTG), soy protein isolate (SPI) and maltodextrin (MD).

Response surface methodology (RSM) was employed in this study to determine the effects of MTG, MD and SPI on firmness of SCC.

The second‐order model generated via RSM was significant with only a 9.76 per cent variation not explained by the model. The coefficient of regression revealed that MTG, MD and SPI showed significant linear effects (P<0.0001) on the firmness of SCC, while MTG and SPI showed significant quadratic effects. The model successfully predicted and developed a SCC model with similar firmness as that of DCC; via the combination of 2.57 per cent (w/w) of MTG, 19.69 per cent (w/w) of SPI and 19.69 per cent (w/w) of MD. Physicochemical analyses revealed that SCC possessed lower fat content, reduced saturated fatty acid and zero trans fat. Further rheological measurements revealed that SCC was more solid‐like at room temperature, but less elastic at refrigerated temperature compared to DCC. SEM and SDS‐PAGE analyses affirmed that the textural changes of SCC were attributed to MTG‐induced cross‐linking.

The research demonstrated that a non‐dairy cream cheese could be developed using soy. In addition, the SCC also contained better nutritional properties compared to its dairy counterpart.

The process of ageing is discussed from the point of view of biocybernetics. In the first part of the paper analytical factors are enumerated. Later in the paper the synthetic‐cybernetic aspects of gerontology are discussed and some illustrative examples mentioned. Finally, assuming a successful prolongation of the life‐expectancy of man, some philosophical questions are raised concerning cybernetic interactions in a world, in which one of the most important component subsystems, man, will interact maybe five times longer with the total system than in its present semi‐homeostatic equilibrium.

This paper aims to gain a greater insight into the molecular level changes occurring in lac‐epoxy blends, at elevated temperatures for different intervals of time. It is also to determine the changes in key physico‐chemical parameters of these blends, before and after applying thermal stress on these blends.

Films of lac‐epoxy blends, applied on tin panels, were baked at 200°C for different time intervals. The baked films were examined by specular reflectance spectroscopy, as these were otherwise difficult to examine through conventional IR techniques, using KBr pellet method. The results obtained were compared and reported. The blends were also tested for different physico‐chemical parameters like scratch hardness, flexibility, adhesion, acid resistance, etc.

On baking the blends of lac‐epoxy resin at 200°C for different time intervals, the strained three membered epoxy ring apparently break open, releasing some free hydroxyl groups, which react with carboxylic groups in lac resin to form ester linkages, resulting in condensation. In terms of different physico‐chemical parameters, blends of 70 per cent lac:30 per cent epoxy were found to be better in performance than blends of 50 per cent lac:50 per cent epoxy and blends of 30 per cent lac:70 per cent epoxy resins, baked at 200°C for different time intervals. Adhesion and acid resistance of lac‐epoxy blends were very good compared with the parent resins.

The spectral studies on lac‐epoxy blends were done qualitatively. Although desirable, quantitative studies could not be carried out, due to the inherent difficulties in handling the resins.

Lac‐epoxy blends may find an important role in printing inks, varnishes and finishing industries owing to their very good adhesion, gloss, scratch hardness and resistance to the action of acids.

As of now, there is no record of specular‐reflectance and derivative spectrometric studies on lac‐synthetic resin blends. This paper represents the first attempt to obtain and correlate reflectance data with physico‐chemical changes. It also highlights the convenience of the method and the scope of sophisticated data analysis, including derivative spectrometry and spectral subtraction techniques.

This study aims to provide a salt ready-mix to instant fried noodles manufacturers.

Response surface methodology was used to get optimized salt ready-mix based on carbonate salt, disodium phosphate, tripotassium phospahte, sodium hexametaphosphate and sodium chloride. Peak viscosity of flour and yellowness, cooking loss and hardness of noodles were considered as response factors for finding optimized salt formulation.

The results showed that salts have an important role in governing quality of noodles. Optimum levels of five independent variables of salts, namely, carbonate salt (1:1 mixture of sodium to potassium carbonate), disodium phosphate, sodium hexametaphosphate, tripotassium phosphate and sodium chloride were 0.64%, 0.29%, 0.25%, 0.46% and 0.78% on flour weight basis, respectively.

To the best of the authors’ knowledge, this is the first study to assess the effect of different combinations of different salts on the quality of noodles. These findings will also benefit noodle manufacturers, assisting in production of superior quality noodles.