Competitive horizon
Article type: Competitive horizon From: Strategic Direction, Volume 28, Issue 9
Africa seeking to boost IT capabilities
Enhancements to its information and communication technology (ICT) sector will enable the African continent to post stronger economic growth, a report published by www.allafrica.comclaims. Securing foreign investment coupled with skills and infrastructure improvements are seen as essential steps in the process. While the importance of traditional industries remains, ICT is regarded as a key driver of socio-economic development. The report points out that Africa must shift towards becoming a knowledge-based economy in order to make its emerging nations more competitive. Significant advances are required as two leading indexes respectively show no African nations in the top 50 or top 100 for ICT penetration. Despite the fact that the continent accounts for 14 percent of the global population, internet subscription remains low. Consequently, a key objective is to address policy and regulatory issues so that universal access to broadband services can be provided on secure networks. That 55 percent of Africans currently live in rural areas increases the difficulty of meeting these objectives. But boosting ICT capacity will help facilitate the design of novel applications and innovations to meet the continent’s needs and boost its competitiveness.
Japan finds handy way to withdraw cash
The personal inconvenience and distress that results from the loss or destruction of bank cards may soon become a thing of the past. A report published by Growth Business (www.growthbusiness.co.uk) details how a Japanese bank is experimenting with new technology that could eventually see bank cards become obsolete. Created by IT giant Fujitsu, the technology enables consumers to scan their hand over an ATM and then enter their pin number and date of birth in order to carry out a transaction. The system adopted by the Ogaki Kyoritsu Bank is able to distinguish people by the uniqueness of their vein patterns. According to the report, need for such a development was acknowledged in the aftermath of the Japanese earthquake and Tsunami in 2011. The destruction resulted in many people losing valuable personal documents and bank cards. For now, the system will be restricted to Japan but could extend further should it prove successful.
Drive to rejuvenate car industry in EU
The European Union (EU) has announced plans to tackle problems facing its auto manufacturers, a report published by www.eu.business.com points out. Restrictive trade policies with other countries and challenging environmental conditions are among the issues causing most concern within a sector aiming to bounce back from several years of decline during a period when competition from other nations including South Korea has intensified. The program is focusing on securing improved trade agreements with major competitors, particularly Japan. In addition, the region acknowledges the need for green technology and has invested half a billion euros for this purpose. Between 2014 and 2200 this figure will treble as manufacturers increase their emphasis on the production of environmentally-friendly vehicles. The report also notes the need for some industry restructuring in order to better meet challenges relating to overcapacity, regulation and production costs.
Major upturn anticipated for Chinese steel industry
Policies announced by the State Council are expected to provide a major boost to the steel industry in China. In an aim to strengthen the nation’s economy, the move has also led to many important infrastructure and industrial projects being approved. With new and suspended railway, energy, transportation,real estate and airport projects on the radar, demand for steel will rise considerably, a report published by www.china.org points out. Project approval will also help restore market confidence, although the Lange Steel Information Research Center believes that such an effect will not occur immediately. But the industry body points out that the increased need for new heavy construction equipment that requires specialist steel products will provide another boost to the sector. Although the sanctioning of large infrastructure projects is renowned for being a lengthy process, the report predicts that it will not take long for steel prices to climb.
