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Check out www.asofterworld.com. They are pretty witty.
Thursday, April 29, 2010
Book burnings
Wednesday, April 28, 2010
Your Body Is A Machine
Tuesday, April 27, 2010
Tim Gunn vs. Superheroes: Fashion is the new Kryptonite
On the superhero Canary: "Frankly as a superhero, I would take her much, much more seriously [minus the fishnets]. Because she looks like she's ready for combat. What is she ready for here? A cocktail and a little roll in the hay?"
Monday, April 26, 2010
You can't handle the truth!
Eyjafjallajökull takes no prisoners
Saturday, April 24, 2010
Meat in SF: The Psychoanalysis of Burgers
It's lunch time. Who wants a cheeseburger? I've never been to 4505, but this burger seems like the perfect reason to visit. What is it with burgers and desire? I remember my college philosophy professor using using a cheeseburger to illustrate an argument about desire. Clearly, these cheesy meat patties are some sort of Jungian archetype that we can no longer ignore.
Check out SF Eater: Farr Out: 4505's Burgeoning Ferry Plaza Burger Business
4505 Cheeseburger. [Photo: Kate Newborn]
Weekend Drinks: The Escapology
via SFist
The brilliant (and clearly alcoholic) editors at SFist have found yet another drink winner in San Francisco: The Escapology. Yes, it has elderflower liqueur, and yes, they refer to it as "the bacon of the cocktail world," but this drink sound delicious and refreshing. Plus, you get some of your daily requirement of vegetables (that is why they put the cucumber in there, right?). If you're in Union Square, stop by Burger Bar and try this drink out. Or, just go to BevMo, get the ingredients and make yourself a punchbowlful at home. (Grande be damned. Punchbowl is my preferred drink size)
The Escapology
1.5 oz. Ocho Plata tequila (or other silver, unaged tequila)
0.5 oz. St. Germain
1 oz. fresh lime juice
0.75 oz simple syrup
Four thin slices of cucumber
Fever Tree bitter lemon soda
In a shaker, muddle the cucumber with a splash of syrup. Add the rest of the ingredients besides the bitter lemon and shake vigorously. Strain over ice and top with the soda.
Friday, April 23, 2010
I guess I'll be tanning south of Pleasure Island now: No Thongs on Kure Beach!
The Star-News of Wilmington reported that the town council voted Thursday to add a ban against the revealing swimwear to its existing ordinance against nudity.
The move came after the police chief received an e-mail earlier in the week asking if the town's existing nude bathing ordinance allowed thongs.
The ordinance bans nudity or "insufficient clothing," and the man wanted to know if thongs were allowed for both men and women.
"We try to do everything we can toward being a family oriented beach," Mayor Pro Tem Chuck Keener said.
Inappropriate swimwear on Kure Beach was a problem about five years ago, Lambeth said, but not in recent years. The ordinance applies to all of Kure Beach, though not to the three miles of federally owned beaches on the south end of Pleasure Island, Lambeth said.
It's FRIDAY! Are you as excited as this?
Seriously, I don't care if today was the Second Coming meets Christmas meets iPhone HD Release Day meets "the test came back negative," you will never be this excited. So, let's all be nostalgic for the 80s for a minute. . . . Ah, neon, big hair, excess and cocaine. We miss you.
Thursday, April 22, 2010
Coming soon to a gas station near you
Bobby Trendy's recession chic really fits with his new job. Oh, and Bobby, don't forget to wash the windows and check the fluid levels. kthxbye!
Finally, a valid reason for recycling: Vodka Lamps!
Recycling sucks, but we all look better in the filtered gauzy light of our local watering hole and after a few
Check them out on Etsy.
WANTED: Strawberry shortcake and some diet pills
The local roadside strawberry stand opened back up for business, so I thought a Strawberry Shortcake would be a great introduction to spring.
I diced up freshly washed strawberries and mixed them with a splash of Grand Marnier Liqueur and a sprinkle of vanilla sugar. The biscuit should be tender but able to soak up all the strawberry juices without falling apart or tasting dry and bland.
This drop biscuit recipe does just that with its slightly dense yet tender texture and warm biscuity-buttery flavor that pairs so well with the fresh berries. Just whip up a little whipped cream and you have a terrific dessert using fresh, local fruit. Here is how you can make your own:
Start by washing and dicing the strawberries. Add to the bowl a splash of Grand Marnier Liqueur and a sprinkle or two of vanilla sugar to taste (I make my own vanilla sugar by placing a vanilla bean in a small container with granulated sugar). Mix together and let set while you make the biscuits.
I used this fabulous recipe based on one from Cook's Illustrated Magazine:
Shortcake Biscuits- makes 6
- 2 cups (10 ounces) all purpose flour
- 2 teaspoons baking powder
- 1 Tablespoon granulated sugar
- 3/4 teaspoon salt
- 2/3 cup cold buttermilk
- 1 large egg
- 8 tablespoons butter, melted and cooled slightly
- 1 Tablespoon granulated sugar for sprinkling
Preheat oven to 475 and place parchment or a silpat on a baking sheet and set aside. Place a medium bowl and beaters into refrigerator to chill for whipped cream.
Whisk together the flour, baking powder, 1 Tablespoon sugar and salt in large bowl. Set aside.
In a medium bowl whisk together the buttermilk and egg. Add the melted butter and stir until small clumps form.
Add the butter mixture to the flour mixture and stir until well combined and dough comes together. Make sure no clumps of dry flour remain.
Using an ice cream scoop or a 1/3 cup dry measure, scoop out mounds of dough and place on baking sheet around 1 1/2 inches apart to create six biscuits.
Sprinkle remaining 1 tablespoon of sugar over tops of biscuits and bake for 15 minutes (watch carefully) until tops are golden brown and crisp. Transfer biscuits to wire rack and let cool at least 15 minutes before assembling the shortcake.
While the biscuits are cooling, make the whipped cream. Take the bowl and beaters out of the refrigerator. Pour around 1/2 cup cold whipping cream, splash of vanilla extract and sugar-to-taste into the cold bowl.
Start beating the cream on low speed until bubbles form then increase speed to medium, as the cream becomes thicker switch to high speed and beat until the creams forms soft peaks.
To assemble the shortcakes, split each biscuit in half with a serrated knife and spoon some berries and juice on the bottom half of each biscuit. Top the berries with a generous helping of whipped cream and cap with the biscuit top.
Serve immediately. The biscuits can be made 24 hours in advance, just keep in an airtight container until ready to use.
MSNBC Kicks Donny Deutsch Off the Air after Criticism of Keith Olbermann et al.
Is there much difference between these people and this classic Network moment?
In honor of Earth Day, I will compost all the dead gray whales
Garbage found in stomachs of dead beached whale on Earth Day
Wednesday, April 21, 2010
I'm Giving Up Muni For This
The world would be a better place if we all rolled around in our bookcases. Look out, Detroit! The publishing world is coming after you.
San Francisco Muni: The Illustrated Edition
The back half of the Muni 30 line bus I was on today was a veritable chalk-pocalypse. How would anyone have time to do this uninterrupted? Do the cameras REALLY not work?! Do the drivers really not pay attention? Shocking.Also, our driver must have been new. She drove slowly, blocked traffic, and made a wrong turn, prompting most passengers to get off the bus since we didn't know where we would end up. On second thought, this is more S.O.P. than I'm willing to admit. Oh Muni. Quo vadis?
Tuesday, April 20, 2010
Dead gray whale spotted in San Francisco Bay
Oh no! Don't look in the stomach whatever you do!!!!!
Gray Whales Eat Garbage So You Don't Have To
Finally, we can quit worrying about the Great Pacific Garbage Patch. If we leave it alone, all the cute little sea creatures will just eat it up for us: NOM NOM NOM.
Sure, one or two of them might
"Whales Weep Not"
Monday, April 19, 2010
Good morning! Don't forget to put on your face.
Sunday, April 18, 2010
Did you know the Pope snores?
Now you can have any view you want
Here's how they did it.
Imagine the effect on apartment living. Who cares where your apartment is or what floor it's on? With this installed, you can be anywhere you want. Now, can they install an entire wall like this and will running it 24/7 cost too much?
The latest from SPAM: Unicorn Meat with extra sparkles
The Wattle Shop
Yes, I said "wattle." Didn't anyone watch Ally McBeal?
Saturday, April 17, 2010
What do artists eat?
Check out more at Boner Petit! if you dare.
One bottle of vodka + 12 seconds
Not only is he an octopus, he's also an amateur photographer
And have you seen the one where it unlocks the gate to get at the fish in the aquarium?! These things are sneaky.
Friday, April 16, 2010
We're Doomed! Coronal Mass Ejection Heading Toward Earth
from SLOGcoronal mass ejection hurtling toward Earth's magnetosphere. It should be delivering a 'glancing blow' sometime around Saturday.
According to a report released last year, a period of intense solar activity in 2012 coinciding with an 'unusually large hole in Earth's geomagnetic shield' could be curtains.
Entitled "Severe Space Weather Events — Understanding Societal and Economic Impacts," [the report] describes the consequences of solar flares unleashing waves of energy that could disrupt Earth's magnetic field, overwhelming high-voltage transformers with vast electrical currents and short-circuiting energy grids. Such a catastrophe would cost the United States '$1 trillion to $2 trillion in the first year,' concluded the panel, and 'full recovery could take 4 to 10 years.' That would, of course, be just a fraction of global damages.
They're not all priests
For @geoff_w on his birthday
Seattle Glee Flash Mob
I've been away from Seattle too long. Look what's happened. The gays have taken over Westlake Plaza and forced all of downtown Seattle to participate in their sick Glee-fest. Doesn't this look like fun? I know, I know: Flash mobs are so over. But I still love them. Give me public art and passion any day.
Now, who's looking forward to the Madonna-themed Glee next week? Moisture!!
Thursday, April 15, 2010
Sin tastes good! #idrankthis
This 2007 Sin Zin Zinfandel was the liquid companion to my dinner tonight. At a mere $13.99 (on sale), Sin Zin is a drinkable, not very spicy Zin. With the (overly) salty dinner I made tonight, it was a good counterpoint. This was the third bottle I've had of this wine but the first I've gotten to taste. Ah, that's life with wine.Was it worth the wait? On sale, yes. But at full price, there are other wines I'd rather drink. Cheers!
Taste Test: The new Milky Way Simply Caramel
I love Milky Ways. My preferred way to eat them is chilled. Just pop them in the fridge and then enjoy the cool milk chocolate-y, nougat-y, caramel-y goodness. Imagine my surprise yesterday when I walked up to the Walgreen's checkout and noticed this new addition to the ©Mars family. No nougat, just caramel. Hey, I like caramel.
89¢ later, I was the proud owner of this new Willy Wonka-esque concoction. And now I'm eating it--almost 24 hours later. I call that willpower.
It's good. It's less delicate than a Ghirardelli chocolate-caramel square; but, if you like caramel and don't want to splurge on the Ghirardelli OR if you're just anti-nougat (check out Kibology), then give it a shot. I think you'll like it.
I need to go purge now.
San Francisco is for Skateboarders
San Francisco's Embarcadero
I like getting up on Saturday and walking down the Embarcadero, with other people walking, biking, skating around. The bay is on one side and a busy street is on the other. It's the left margin of the country, the West Coast, and I love it. Typically, Rand and I stop by Peet's in the Ferry Building or Tcho for a Mocha, then we might head up to the Filbert Steps or walk around downtown SF for a bit. If it's sunny, all I really want to do is bask in the warmth awhile.
Where do you like to go in your city?
From Caliber SF: The Embarcadero in San Francisco
50¢ Drinks While They Last at the LookOut on Tax Day
50¢ Drinks While They Last at the LookOut on Tax Day
Beat the Clock Happy Hour
The LookOut
3600 16th Street (@ Market)
Wednesday, April 14, 2010
Following up on the smoking theme
I give you Exhibit B: Lauren Bacall. Smoking = cool.
I have the hottest iPhone wallpaper
Seriously, does it get much better than Mia Farrow looking serious and smoking a cigarette?I'm sorry, Surgeon General, but smoking does make people look cool.
Monday, April 12, 2010
Things we left behind
Found on Townsend Street, SF, CA.
The Ducklings Are Dead! Long Live The Ducklings!
Sad news. My duckling Magnolia and her brothers, Yoda and Bob, vanished from their new pond-home last week. My parents suspect coyotes. I think it was aliens.
Luckily, ducks are cheap (chirp?). So, I have a new duck. What should I name this one?
My Santa Cruz Weekend As A List
Did some work
Went to work
Doughnuts and coffee from Dynamo
On the road
Pacifica Taco Bell
Stopped a runaway beach ball
Grilled Stuft Chicken Burrito
Highway 1
Arrival in Santa Cruz
Unloaded the car
Said hello to the place we stayed in 2008
Loving West Cliff
Found site for future home
Put on my walking shoes
Explored West Cliff
Sun on my face
Traded shorts for pants
Santa Cruz Mountain Brewing
Time for beer #1: Amber
Beer #2: Witches' Wit
Bonny Doon Tasting Room
Tastings are done for the day
Back to the house
Reservations at Soif
Changed clothes again
Walking, walking, walking
2.4 miles to Soif
8 PM reservations turn into 8:45 PM
Thankful for the wine shop
Vermentino is oddly salty, minerally, good
Seated, menus, another glass of wine
Beef cheek ravioli desire
No more beef cheeks
Again, sadness
Crab cakes, lamb meatballs, Brussels sprouts, potato wedges and pork chop
Nebbiolo apotheosis
Exploring Santa Cruz at night
Cookies for $1 each
Walking back
No taxi
New day
Kelly's French Bakery
Scone, poached eggs, sourdough toast, coffee
Still no rain
More walking
Book Shop Santa Cruz
Boardwalk and roller coasters
Super burrito de la Hacienda
Text from friends
More walking
More cookies
Finally, a bus!
Meet up with friends at Soif
Recognized by waiter and hostess
Glass of wine purchased for me by Rosie and Kathy
Friends for life
Leave to meet up with other friends
Watch them eat
Two margaritas
Pizza, street fight, end of night, race tomorrow
Cold, rain, wind
Early morning to see runners
Quick visit to Kelly's for breakfast
Back to see runners on the return
Hurricane-proof umbrella defeating the wind
Packing up
Lunch with all the friends
Tasting at Bonny Doon
Surprise food tasting from the manager
Amazing pizza that I want to be buried with
Two bottles to go
A vintage of memories
Leaving the rain behind in Santa Cruz
Back in the city
Dinner at Suppenkuche
Time to rest, purge, and bask in the 3-day glow
Friday, April 9, 2010
Another Reason to Love Santa Cruz
Santa Cruz Mountain Brewery.
Thursday, April 8, 2010
Varla Jean Merman and friends
Tonight was a great night out. We started with a pre-show drink at Cantina. Then, we were lucky enough to have tickets to see Varla Jean and the Mushroomheads in the Rrazz Room at the Hotel Nikko in SF tonight. I went with a group of friends and the show was great. Imagine Schoolhouse Rock meets Electric Company meets Peewee's Playhouse meets mescaline-tinged psychadelic trip. In short, it was loads of fun. Get tickets while you can.After the show, R and I wanted to grab some food, so we went to Fish & Farm. We had a burger and the salmon (both were quite tasty) and we had the cheesecake in a jar for dessert. I've decided that I want to be buried in a cheesecake jar after I'm cremated. And don't skimp on the butter crumble!
P.S. Who has the bigger rack? Varla or Beth on the right?
Your Boss Just Doesn't Understand Your Alcohol Needs
(04-08) 14:57 PDT COPENHAGEN, Denmark (AP) --
Scores of Carlsberg workers walked off their jobs in protest Thursday after the Danish brewer tightened laid-back rules on workplace drinking and removed beer coolers from work sites, a company spokesman said.
The warehouse and production workers in Denmark are rebelling against the company's new alcohol policy, which allows them to drink beer only during lunch hours in the canteen. Previously, they could help themselves to beer throughout the day, from coolers placed around the work sites.
The only restriction was "that you could not be drunk at work. It was up to each and everyone to be responsible," company spokesman Jens Bekke said.
Carlsberg had mulled a stricter drinking policy for years and finally decided to impose the new rules on April 1, prompting protests from the staff.
Bekke said around 800 workers went on strike Wednesday and around 250 walked off their jobs Thursday, resulting in interruptions to beer transports in and around Copenhagen.
Carlsberg's truck drivers joined the strike in sympathy — even though they are exempt from the new rules, Bekke said. The truck drivers are permitted to bring three beers from the canteen because they often don't have time to have lunch there.
Very little truly upsets me anymore, but this is unacceptable. How dare management try to limit the amount of beer that you, a loyal, hardworking, and thoroughly addicted worker, clearly deserve while you're working. Look, dealing with coworkers is tough. They nag and cajole and ask for stuff. They even smile as you walk by. The expectation to smile back is too much to bear sober. Save your company. Let your employees drink.
*Brought to you by the Alcohol Producers of America Board
Monday, April 5, 2010
What is wrong with America? Teens destroy a brand new iPad
I read something yesterday about how people know how to deal with scarcity but not abundance. I think this clearly supports that hypothesis.
It's official: I hate kids.
Sunday, April 4, 2010
Bobby Flay: Chef and Drag Queen
Tonight, Bobby Flay was wearing more makeup than all the contestants on RuPaul's Drag Race. Can you see the blush on his cheeks?!
Dear Bobby, you're supposed to make pancakes, not wear them.
Saturday, April 3, 2010
You can find me here today
In my mind, I will be here, reading with a glass of wine and feeling the warm sun on my face. Where will you be today--in your mind?
Double Down and Loosen That Belt!
Available on April 12 from KFC, the Double Down will be available in two forms. The Original Recipe sandwich clocks in at 540 calories, 32g of fat and 1380mg of sodium (thirsty yet?). The light Grilled Double Down will save you 80 calories and 9g of fat, but you'll get an extra 60mg of sodium (just in case the McDonald's fries you had earlier hadn't pushed your blood pressure into the stratosphere). America, this is the sandwich for you!


text:
MUX provides innovative product designs for how people use hardware and software in real world scenarios. All factors are considered from ease of use, environmental factors and usage in a distracted state.
Insights from direct observation of users is crucial to discover problems and create solutions for actual issues. MUX provides research to interested companies using video and user testing to produce comprehensive reports.
Founder of Marine User Experience, Cian has spent 20 years designing products and services around the user.
Sea Kayak Around Ireland
A MUX produced documentary about an epic circumnavigation of Ireland in Summer 2015 by Irish kayakers Jon Hynes & Sean Cahill.Watch Video

subset: commoncrawl


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RAEFORD — Last season, the Southeastern Conference had three football teams that saw time in the top-10 rankings of the Associated Press' state poll, making it one of the toughest leagues in North Carolina.
Purnell Swett coach Jon Sherman has a unique way of explaining what five straight games to close out the season against the SEC seems like.
"When you play in this conference, it's almost like a playoff every game," Sherman said. "Just having to see the talent you see and the players every night in this conference, by the time you get to the playoffs you're ready to play on the day."
At the SEC media day on Sunday at Bayonet Golf Course at Puppy Creek, players and coaches from the league's six schools convened and voted on the projected finishing order this fall. This comes after three teams made the NCHSAA 4A state playoffs out of the conference last year. Lumberton made an appearance in the postseason against Page and held it's own with the eventual state runners-up in the first half before Page went on to defeat the Pirates 62-20.
"It's neat to see the first week and how our conference represents itself in the state playoffs," Lumberton coach Mike Setzer said. "For us to go against stellar competition like Page and be able to play neck and neck with them for a half lets you know what kind of competition we see every week."
Lumberton was represented by Setzer, senior Shadix Ralston and sophomore Braylan Grice at the media day, while Purnell Swett was represented by Sherman and seniors Ian Bullard and Dantae King.
Scotland, the regining conference champions, was selected as the preseason favorite to win the league. Richmond was picked second, Pinecrest third, Lumberton fourth, Purnell Swett fifth and Hoke sixth.
Both coaches feel their teams can exceed the predictions that have been put on their teams.
"When we get rankings like that, it makes us excited because we want to exceed everybody's expectations," Setzer said. "No matter how hard we work right now, certain people still see us as Lumberton."
"We've got to do what's expected," Sherman said. "We've got to win the games we're supposed to win and compete in the games where we are not necessarily at that level they're saying yet. We can prove our point by winning."
For the players, playing in a tough league has its benefits.
"Being in one of the toughest conferences allows us to gain more experience playing tougher opponents," King said.
Bullard added: "When playing against one of the toughest conferences in the state, you definitely gain a whole lot more experience."
Purnell Swett went 1-4 in conference last season. Lumberton went 2-3.
"It's pretty tough at times but the better competition, the better it makes you as a player," Ralston said.
"Last year, I was nervous at times like that," Grice said about starting as a freshman last year in conference games.
This season is the last season the SEC will consist of six teams with the new conference realignment coming into effect, bringing Jack Britt and Seventy-First to the league. With that looming for next season, both coaches are not thinking about the future of SEC with its additions, but rather, their teams' first games.
"We're not even thinking about next year to be honest," Sherman said. "People have talked about the new conference and all that stuff and I couldn't care less. My goal is the first game of the year with these guys."
"We take it one week at a time and I haven't really talked to the kids too much about who is coming in next year, the most important thing in our universe is Hunt," Setzer said.
Jonathan Bym can be reached at 910-816-1977. Follow him on Twitter @Jonathan_Bym.


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I think this is an example of a REAL woman and what they do in bed of a night or when they are alone and horny. - Shes beautiful, shes totally open and honest ( you can tell shes not putting it on ) personally I would lick an swallow every drop of cum she had to give. MORE please sweetheart!
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boy i love the size of this chicks tits,, and her pussy is so fricken beautiful too all i wanna do is lick it,, long time,, fuck me,,
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- Violet Arnold
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1 OECD GLOBAL FORUM ON INTERNATIONAL INVESTMENT NEW HORIZONS AND POLICY CHALLENGES FOR FOREIGN DIRECT INVESTMENT IN THE 21 ST CENTURY Mexico City, November 2001 Foreign direct investment in Africa: policies also matter Jacques Morisset * Abstract Africa has not been very successful in attracting foreign direct investment (FDI) over the past few decades. When these countries were able to attract multinational companies, it was principally the result of their (abundant) natural resources and the size of their domestic market. Still, this paper demonstrates that a few Sub-Saharan African countries have generated the interest of international investors by improving their business environment, suggesting that they can become competitive internationally and attract FDI on a sustainable basis. This conclusion does not differ from the successful and well-known experience of countries such as Ireland and Singapore. * Program Manager for Africa, Foreign Investment Advisory Service of the International Finance Corporation and the World Bank. The author would like to thank Dale Weigel, James Emery, Marcelo Olareagga, Dorsati Madani, Charles Vellutini, Joe Battat, Bijit Bora, Gene Tidrick, Onno Ruhl, Charles Albert Michalet and two anonymous referees for their valuable comments. The views expressed here are the author s own and do not necessarily reflect those of the institution to which he is affiliated. This paper will be published by Transnational Corporations (forthcoming). 1
2 Introduction For many observers, the capacity of African countries to attract foreign direct investment (FDI) is principally determined by their natural resources and the size of their local markets. Over the years, Nigeria and Angola have been two of the most successful countries because of their comparative location advantage in oil despite their unstable political and economic environments. The apparent lack of interest of transnational corporations (TNCs) in African countries that have attempted to implement policy reforms has also contributed to support this argument. The balkanization of African countries is frequently used as an argument that this continent has been much less favoured than Asia and Latin America over the past decade. It has been argued that the reforms in many African countries have been incomplete and thus have not fully convinced foreign investors to develop activities that are not dependent on natural resources and aimed at regional and global markets. True, it takes time for a country to modify its image, especially when the State has a long tradition of policy intervention, and when the reforms have been mostly symbolic with the adoption of new texts that have not yet been translated into actions. This note will identify which African countries have been able to attract FDI by improving their business climate. These countries show that pro-active policies and reform-oriented Governments can generate FDI interest. This conclusion does not differ from the one reached for countries such as Singapore or Ireland. It simply makes the point that African countries can also be successful in attracting FDI that is not based on natural resources or aimed at the local market, but rather at regional and global markets, by implementing policy reforms. An econometric analysis of 29 African countries and a detailed review of two successful ones Mali and Mozambique will illustrate which policy factors have played a significant role in the improvement of their business climate at least in the views of foreign investors. Why? Determinants of FDI in Africa Although there has been a considerable number of analytical and empirical studies on FDI inflows, 1 there has been a limited consensus on which factors play an unambiguous role in explaining the location decision of TNCs. It is generally accepted that market size and access to natural resources are crucial determinants in their decision processes. Not surprisingly, the African countries that have been able to attract most FDI have been those with the largest tangible assets such as natural and mineral resources as well as large domestic markets. About 65 per cent of total FDI inflows to Africa concentrated in South Africa, Nigeria, and Cote d Ivoire in 1996/1997, which also accounted for about two-third of the sub-continent s GDP during the same period (table 1). The role of market size can be further evidenced by the almost perfect positive correlation between FDI inflows and GDP for a group of 29 African countries during 1996 and 1997 (the correlation coefficient equals 0.99) 2. The role of natural resources in the location decision of TNCs is apparent through the sectoral allocation of FDI inflows within the region. Traditionally, about 60 per cent of FDI in Africa is allocated to oil and natural resources (UNCTAD, 1999). This is corroborated by the coefficient correlation between FDI inflows and the total value of natural resources in each country, 3 which appears close to unity (i.e. 0.94) for the group of 29 African countries during The Africa region possesses not only large reserves of oil, gold, diamonds and copper but also more than half of the world s cobalt and manganese, one third of 1 See for example, Wheeler and Mody (1992); Singh and Jun (1995); UNCTAD (1998). 2 The link between FDI inflows and size could be further explored, as, for example, one may argue that there may exist a non-linear relationship between these two variables. This goes, however, beyond the scope of this note. 3 The total value of natural resources in each country is estimated as the sum of the primary and the secondary sectors, minus manufacturing. Source: World Bank s World Development Report (1999). 2
3 bauxite and more than 80 per cent of chromium and platinum. The sub-continent is also among the main exporters of agricultural products such as cocoa, coffee and sugar. The strong reliance of African countries on their natural resources and market size has been well evidenced by many studies. 4 It might be more pertinent to look at which countries have been most successful in attracting FDI over the past few years, when they could not rely on the natural resources and the size of their domestic market. To do so, we propose to normalize the value of total FDI inflows by GDP and the total value of natural resources in each country. For simplicity, we label this indicator as the business climate for FDI (FDIBC): FDIBC i =FDI i /(GDP i *NR i ) a (1) where FDI is defined as the FDI inflows in country i, GDP as the gross domestic product and NR the value of natural resources (all of them expressed in dollars). Equation (1) assumes that the elasticities of FDI inflows to changes in GDP and natural resources are both equal to unity (a = 1), which seem consistent with the estimated elasticities that will be reported later in the paper for the group of African countries surveyed in this note. 5 Our indicator captures the attraction of African countries for FDI when they can rely on everything except for their natural resources and market size. Therefore, it reflects not only policy and political variables but also a series of structural factors such as infrastructure, transport costs and human capital. By indicating the attraction of the FDI business climate for each country, it complements the data collected in investors surveys and cross-country ranking such as The Africa Competitiveness Report published by the World Economic Forum. One has to keep in mind, however, that our indicator reflects existing rather than potential data/information and, thus, might be a poor predicator of future FDI flows. 4 See for example, Pigato (2000) for a review. 5 The assumption that both elasticities equal unity is valid for the group of African countries covered in this note. However, if the sample is widened to include industrial countries for example, this assumption does not hold because of the large differences in GDP level between countries (for example, United States and Burundi). 3
4 Table 1. FDI inflows and GDP: ranking of 29 African countries, average (Millions of $US) Net FDI Inflows GDP South Africa Nigeria Cote d Ivoire Angola Tanzania Uganda Namibia Ghana Senegal Mozambique Zimbabwe Zambia Mali Mauritius Cameroon Benin Guinea Chad Kenya Madagascar Congo, Republic Central African Republic Ethiopia Rwanda Congo, Democratic Rep. Of Malawi Burundi Niger Sierra Leone Source: World Development Report, World Bank (1999). 4
5 Table 2. Business Climate for FDI: Ranking of 29 African countries, average Country FDI/business climate a ICRG political risk b Institutional Investor c Namibia 1 1 NA Mali Mozambique Zambia Chad 5 NA NA Senegal Angola Benin 8 NA 12 Mauritius 9 NA 1 Cote d'ivoire Tanzania Uganda Central African Republic 13 NA NA Ghana Madagascar 15 9 NA Burundi 16 NA NA Rwanda 17 NA NA Zimbabwe Congo, Rep Nigeria Niger NA Guinea Malawi Cameroon Kenya South Africa Ethiopia Sierra Leone Congo, Dem. Rep Sources: Author's own calculations; Pigato (1999). a. The business climate index is defined as net FDI inflows normalized by GDP and the total value of natural resources in each host country. b. Political risk rating based on the opinion of banks, TNCs and other institutional investors indicating corruption, political and judicial institutions. c. Institutional Investor rating measures a country s creditworthiness, which is mostly determined by economic and financial variables. 5
6 The ranking of 29 African countries according to the indicator proposed above is presented in table 2 (first column). In , the most attractive country was Namibia, followed by Mali, Mozambique, Zambia, Chad and Senegal. 6 The least attractive were Congo, Sierra Leone and Ethiopia. Preliminary findings for 1998 indicate that there have not been many changes in the ranking, with Mozambique and Namibia still on the top of the list. 7 A rapid comparison across regions reveals that Singapore had a FDI business indicator index twice as high as the best African country in 1995/1997. However, Ireland and Hungary were ranked about the same level as Senegal and Mauritius. This result may appear surprising at first sight, but one can observe that the flows of FDI were about the same in Senegal and Ireland, when compare to their respective GDP in 1997 (about 3.8 per cent) and Ireland has, in dollars, more natural resources than Senegal. It may also reveal some of the limits of our indicator when the differences in GDP are too big across countries the assumption that FDI is perfectly elastic to changes in GDP might not be robust across region or countries with large differences in GDP levels. Our ranking can be compared with those obtained in some well known surveys such as the International Country Risk Guide (ICRG) and the Institutional Investors (II) ratings that are reported in the second and third columns of table 2. 8 If the ranking appears quite similar for a few countries, 9 there exist significant differences both at the top and bottom of the table. While South Africa, Zimbabwe, Kenya and Malawi appear in the bottom half of our ranking, they are on the top of the list for the two other indicators. On the other hand, Mali and Mozambique have not been ranked very high by the ICRG and II indexes but are among the most attractive countries according to our indicator. 10 In our opinion, these differences can be explained the by more global concept captured by our indicator, which aims at reflecting the FDI that cannot be explained by the size of the local market and the availability of natural resources. As mentioned earlier, it reflects not only the policy and political environment in a host country but also a series of factors such as the geographical location, infrastructure and the stock of human capital. The ICRG and II indexes capture only two of these multiple elements: the political and financial risks in each country. Another major difference is that these indexes are built with investors surveys, mainly international banks, and thus are more subjective and forward-looking than our indicator that is constructed by using actual FDI flows and economic data. These differences can be illustrated by the cases of Zimbabwe and South Africa. Although Zimbabwe appears to be a country with low political (fourth out of 24 countries) and financial (third) risks, the fact of the matter is that most foreign investors have been reluctant to invest there. Their prudence may be explained by the weak growth performance over the past few years and numerous barriers against FDI, especially when Zimbabwe is compared to market-oriented neighbours such as Zambia, Uganda and Mozambique. Those obstacles are not captured by the ICRG or II index. The South African economy has benefited from large inflows of FDI in the recent years, but they have been mainly due to the privatization process, the return of companies based in neighbouring countries during the apartheid period and the interest of investors in the large domestic market (about three times greater than the second largest African country, i.e. Nigeria). Those factors are not related directly to the business climate, which remains quite problematic. The trade liberalization process remains timid with the exclusion of some important industries and relatively long transition periods. The economic 6 The good ranking of Chad and Zambia reflects that the first country offers great oil reserves (not reflected in our indicator of natural resources) that have attracted companies interested to explore those possibilities; Zambia has followed a relatively aggressive privatization programme and liberalization policy. 7 The 1998 ranking is incomplete because the data on FDI inflows are still missing for a few countries. 8 Unfortunately, the Competitiveness Indicator developed by the World Economic Forum is not available for most of the countries covered in this note. However, Namibia and Mauritius were also well ranked in their 1998 ranking, but South Africa was perceived as much more competitive, while Mozambique much less than reported in this note. 9 For example, Namibia has been traditionally perceived as a secure country, with satisfactory macroeconomic indicators, a good and reliable judiciary system and access to the large South African market. Similarly, the weak performance of Sierra Leone and Congo has been well publicized with their unstable political climate and multiple economic problems. 10 In fact, the coefficient correlation between our indicator and the ICRG and II indexes is negative for the period (see more details in the next section). 6
7 growth performance in recent years has proved to be too modest to convince foreign investors, which is reflected in our indicator but not clearly in the ICRG or II index. It might be useful to examine the variations in the business climate, as a source of attraction for FDI, for the group of 29 African countries over the past decade (table 3). At the end of the 1980s, the most attractive countries were Zambia, Mauritius, Chad and Benin. Then, in the early 1990s, Benin, Namibia, Chad, Zambia and Mozambique were ranked as the most performing countries. In the last few years, Namibia, Mali and Mozambique appeared on the top of the list. Overall, we found that the ranking has been relatively stable over time with about the same strong and weak performers, suggesting that it takes time to establish a good or bad reputation. Table 3. Comparison over time of the business climate for FDI in Africa Rank Average Average Average Zambia Benin Namibia 2 Mauritius Namibia Mali 3 Chad Chad Mozambique 4 Benin Zambia Zambia 5 Rwanda Mozambique Chad 6 Niger Angola Senegal 7 Congo, Rep. Mauritius Angola 8 Central African Republic Senegal Benin 9 Guinea Ghana Mauritius 10 Namibia Uganda Cote d'ivoire 11 Madagascar Madagascar Tanzania 12 Angola Nigeria Uganda 13 Mozambique Guinea Central African Republic 14 Senegal Rwanda Ghana 15 Nigeria Tanzania Madagascar 16 Cote d'ivoire Congo, Rep. Burundi 17 Kenya Mali Rwanda 18 Burundi Zimbabwe Zimbabwe 19 Ghana Malawi Congo, Rep. 20 Ethiopia Burundi Nigeria 21 Malawi Kenya Niger 22 Uganda Cote d'ivoire Guinea 23 South Africa Ethiopia Malawi 24 Mali South Africa Cameroon 25 Congo, Dem. Rep. Congo, Dem. Rep. Kenya 26 Cameroon Cameroon South Africa 27 Zimbabwe Niger Ethiopia 28 Sierra Leone Central African Republic Sierra Leone 29 Tanzania (N/A) Sierra Leone Congo, Dem. Rep. 7
8 A few countries have shown significant changes in their business climate over the past decade. Foreign investors have recognized the progress achieved by countries such as Mali (from 26 in to 5 in ), Uganda (from 24 to 13) and Mozambique (from 13 to 3) where FDI inflows jumped about 600 per cent, 100 per cent and 90 per cent, respectively, between and On the other hand, several countries have seen a severe deterioration of their investment environment: Rwanda (from 6 to 18), Niger (from 7 to 22), and Congo Republic (from 8 to 20). Those countries went through unstable political events during these years, with a strong and negative impact on foreign investment. What makes a business climate attractive in Africa? At first sight, there are no apparent patterns that emerge from the ranking presented in the previous section. It could have been a priori argued that the small, non-oil exporting and landlocked countries would have made the strongest effort to improve their business climate to attract foreign investors. There are two complementary approaches that can be followed to attempt to define what the successful countries have been doing right. First, an econometric analysis can help to identify the main factors. Second a description of the policy reforms implemented in a few successful countries may be practical. These two approaches are presented below. The absence of reliable statistical data on most African countries precludes a rigorous econometric analysis. However, as a starting point, we proceeded with panel data and cross-country analyses of the 29 countries presented earlier in which we tested a number of explanatory variables. The selection of these variables was done on the basis of the existing literature and the following equation was chosen: with: FDIBC it =a 0 +a 1 g it +a 2 IR it +a 3 T it +a 4 TM it +a 5 UP it (2) FDIBC it = business climate for FDI in country i at time t g = GDP growth IR = illiteracy rate (per cent of people aged 15 and above) T = trade/gdp TM = telephone mainlines (per 1,000 people) UP = ratio of urban to total population Contrary to most econometric studies, we do not try to explain FDI inflows but rather the FDI that does not arise from market size and the natural resources available in the host country. Therefore, the dependent variable used in the regression is our business climate indicator as defined by equation (1). As discussed earlier, we assume that FDI inflows respond to a change in GDP or natural resources with perfect elasticity. To check the robustness of this assumption, we have also estimated the same equation but with FDI inflows as a dependent variable and GDP and natural resources as explanatory variables. We found the respective elasticities of 0.91 and 0.92 and 1.4 and 1.2 in our panel and cross-country regressions (see table 4, third column) Wheeler and Mody (1992) found that market size had a positive influence on capital expenditures by manufacturing affiliates of United States TNCs between 1982 and 1988, with an elasticity of Elasticity for the highest income countries was 1.86, while that for the lowest-income countries was
9 A brief explanation might be necessary for our selection of explanatory variables, which has been partly driven by the availability of data in the World Bank s database. 12 The economic growth rate should influence positively the business climate for FDI as it reflects an improvement in economic performance. Most recent studies have also evidenced that the degree of openness, as measured by the trade share in GDP, should influence positively foreign investors through trade liberalization and higher competitiveness. The illiteracy rate should be inversely related to the availability of relatively skilled labour a major factor in the location decision of TNCs. The number of telephone lines per 1,000 people is viewed as an indicator of infrastructure and communication development. Finally, the recent literature has argued that investors can be lured by concentration of other companies or customers, since it reduces their transport costs and there are evident economies of scale in the development of backward and forward linkages. This argument might be partially captured by the share of urban population (as a percentage of total population). Note we will also test the relationship between our indicator of business climate and the political and financial risks indicators reported in the preceding section. Table 4. Econometric results: sensitivity of business climate to policy variables (T-statistics in parenthesis) Panel data a Cross Country Dependant variable FDI business FDI inflows FDI business FDI inflows climate climate Economic growth (1.90) (1.71) (1.96) Trade openness (2.43) (3.23) (1.94) (1.50) Illiteracy rate (-0.39) (1.09) (1.33) (0.80) Telephone lines (-0.51) (-0.42) (0.15) (-0.46) Urban population (-1.21) (-1.26) (-0.49) (-0.63) GDP 0.91 (3.97) (4.28) Natural resources 0.92 (7.04) (3.89) Adj R a Fixed-term effects were used for our panel data regressions. We estimated equation (2) for the panel data of 29 countries over the period Alternatively, we proceeded with cross-country regressions using the average values of the selected variable during the same period. The panel data regression includes fixed-term effects because the results from testing the homogeneity of such effects indicate that the changes in the FDI business climate include critical time-correlated elements common to all countries. The estimated results of our panel regression indicate that GDP growth rate and trade openness have been positively and significantly correlated with the investment climate in Africa (table 4). 13 The positive impact of trade openness seems to confirm the arguments that trade liberalization leads to a more general reduction in administrative barriers and improve the business environment in the host economy countries 12 For a good review of determinants of FDI in the African context, see Srinivasan (1999). Note that we tested additional explanatory variables to those reported in the text such as income per capita and a dummy variable for landlocked countries. However, those do not appear to influence significantly the business climate index. 13 Our findings are consistent with the results obtained by Elbadawi and Mwega (1997) in a recent regression analysis of FDI in Africa. 9
10 with low trade barriers also tend to have low barriers to FDI as well as conveys the right signal to the international business community (Lall, 2000). In a more specific context, free trade zones have been much successful in attracting FDI with stable, growing economic environment and trade liberalization (Madani, 1999). In contrast, the illiteracy rate, the number of telephone lines and the share of urban population do not appear to have been major determinants in the business climate for FDI in the region. Those results corroborate those obtained in the cross-country regression. Note that we also tested the impact of political and financial risks (as measured by ICRG and II), but these did not appear significant in the business climate in our (cross-country) regressions. These findings are not surprising in view of the significant differences in the rankings presented in table 2, but contradict somewhat the results obtained in other studies. For example, Zdenek Drabek and Warren Payne (1999) found a highly positive correlation between the ICRG index and FDI for a sample of countries, including both industrial and developing countries. The inclusion of only four African countries in their sample may explain the difference between their and our estimated results. 14 The above results are indicative but should be interpreted with caution because of several statistical and econometric problems. There are numerous data shortcomings in most African countries. 15 For example, it would be interesting to separate how much of the FDI inflows were the result of privatization receipts; but the data were not consistent and available for the surveyed countries over a sufficient period of time. Also, the variables used in the regressions may capture imperfectly the relationship with the business climate; for example the number of telephone lines does not always reflect the quality and costs of the telecommunication infrastructure in each country. The same problems can be associated with the illiteracy rate and the urban population. The estimated effects of the GDP growth and trade openness might be biased because of causality problems since changes in the business climate may determine and be determined by the GDP growth rate. Foreign companies may simultaneously follow or push the trade liberalization effort in a country. To circumvent these statistical and analytical shortcomings, one could use more sophisticated econometric techniques or alternative indicators. Instead, we propose to examine more closely the experience of two individual economies Mali and Mozambique that have shown major improvements in their business climate during the 1990s, as reported in table If, in terms of FDI growth, the performance of Mali appears less impressive, it has to be taken into account that the its geographical position (landlocked and not close to the South African market) is not as favourable as that of Mozambique. What have Mali and Mozambique been doing right? This can be hard to summarize because establishing an attractive business climate for FDI is a multi-dimensional effort. Yet, a few major actions can be identified (see table 5 for details and chronology). First, it appears that these two countries have established a stable macroeconomic environment, at least by regional standards, for a prolonged period of time. The political climate also became secure after a period of high instability. Both countries used aggressive trade liberalization and privatization programmes (especially Mozambique) to attract foreign investors. The Governments approved important pieces of legislation, including new Mining (1991) and Investment (1995) Codes in Mali 17 and a new Industrial Free Zone regime in Mozambique (1994). Moreover, the adoption of international treaties related to FDI helped to increase the Governments visibility in the international business community as well as provided additional insurance to potential foreign investors. Last but not least, the Presidents have played an important role in promoting their countries abroad, both in the case of Mali and Mozambique. Another interesting element is that FDI inflows were triggered by the implementation of a few large projects such as the MOZAL project in Mozambique. True, those projects were initially triggered by the 14 A closer look at the data indicates that the variations in the ICRG index are not large across African countries, which are all at the bottom of the ranking. The influence of the political climate as investors decision may only occur when there are significant differences across countries, which is the case in the Drabek-Payne sample as it includes countries such as Denmark and Sierra Leone. 15 As indicated in the previous footnote, we tested additional variables. 16 It has to be noted that preliminary indications shows that if Mozambique remained the economy with the most attractive business climate in 1998, Mali declined to seventh place in 1998 from fourth in 1996/ See also UNCTAD and ICC (forthcoming). 10
11 presence of natural resources, but they have contributed to put firms these two countries on the radar screen of international investors. The same argument obviously applies to privatization. 18 As an illustration of this multiplier effect, it suffices to look at the investment projects financed by the International Finance Corporation (IFC) the private arm of the World Bank Group in Mozambique and Mali over the past few years. Those investments range from projects in banking to printing and tourism, for a total commitment of $65 million and $134 million in Mali and Mozambique, respectively, as of June Interestingly, the IFC s portfolio in Mozambique was the largest in Africa, while that in Mali ranked in sixth position, greater than that in Nigeria, Cameroon or Ghana. We believe that the IFC s portfolio allocation illustrates well the interest of the international private community in these two countries and the progress that they have achieved in their business climate. 19 It is also revealing to compare Mali and Mozambique with countries such as Kenya and Cameroon, which have been much less successful in attracting FDI in spite of larger local markets and abundant natural resources (table 1). The business indicator for these two last countries shows that they have not been attractive, twenty-fifth and twenty-fourth, respectively in 1996/1997. Indeed, these countries have not been able to focus on any of the actions that have been identified as key elements of the recent success of Mali and Mozambique. Their macroeconomic performance has been below the regional average, their privatization and trade liberalization efforts rather timid, there has been no major foreign investment projects, and only a few legislative changes have been implemented in recent years. Last but not least, these two countries have established a reputation of high corruption and lack of transparency. A final word of caution might be necessary. Both countries, Mali and Mozambique, have been through a spectacular recovery during the 1990s, after several years of internal disrupt and (dis) investments by foreign companies. The large FDI inflows observed in the past few years might therefore benefit from a catch-up effect in which it was relatively easy to attract investment projects during the initial recovery but that maintaining such a pace would be increasingly more difficult over time. Only a sustained effort in improving the business climate will continue to attract (foreign) investors. And, in both countries, there is still much room for improvement in areas such as infrastructure, transport costs and human capital. 18 One of the positive externalities of the MOZAL project in Mozambique has been its impact on the Government s commitment to reduce administrative barriers. For fuller details, see Wells (2000). 19 It would be worth exploring further if the IFC investments have been perceived as signals by other private investors that the business climate has been improving in the host country. 11
12 Table 5. Major actions in Mali and Mozambique Area Mali Mozambique Macroeconomic stability The macroeconomic indicators improved dramatically, as real GDP growth reached approximately 7 per cent in 1997, up from 0.6 per cent in Average annual inflation, as measured by the consumer price index for Bamako, was reduced from 12.4 per cent in 1995, to 4 per cent in Both the external account deficit and fiscal deficit were reduced, and a prudent credit policy was pursued. Trade liberalization The trade openness ratio increased from 49 per cent in 1990 to 60 per cent in 1997, with a reduction in tariffs and the elimination of several non-tariff barriers. Privatization After a slow start, privatization receipts reached $22 million in 1997, including the sale of several enterprises in the financial and manufacturing sectors. Focus on one/ few major projects Investment projects in the mining sector (gold) were realized by Rand Gold and Ashanti, facilitated by the reform of the Mining Code in Political stability In March 1991, a series of clashes between the people and the army culminated in the arrest of the President. In January 1992, the Alliance pour la democratie au Mali (ADEMA), leading a coalition of opposition parties, established electoral dominance, while its candidate was elected President. He was recently reelected in May 1997 for another fiveyear term. Implementation of new laws and accession to international agreements related to FDI Mining Code (1991) Investment Code (1995) Multilateral Investment Guarantee Agency (1992) Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1994) The economic growth rate jumped from 4.0 per cent in 1990 to 13.3 per cent in Inflation was reduced from 70 per cent in 1994 to single digits by The trade openness ratio increased from 53 per cent in 1990 to 63 per cent in In 1996, the Government rationalized and lowered the tariff structure, averaging around 14 per cent Mozambique s privatization programme is one of the most active in Africa as well: more than 900 state enterprises have been privatized, including the entire banking sector and a number of state manufacturing firms. The privatization receipts reached $37 millions in The development of the new $1.3 billion MOZAL aluminum smelter facility. The General Peace Agreement in 1992 between FRELIMO and RENAMO and the general elections that followed in 1994 were important steps towards national reconciliation and stability. FRELIMO won the first national election. The opposition, RENAMO, retains almost 45 per cent of the seats in parliament. Industrial Free Zone (1994) Multilateral Investment Guarantee Agency (1994) World Intellectual Property Organization (1996) Convention on the Settlement of Investment Disputes between States and Nationals and States (1995) 12
13 Conclusions Countries that can offer a large domestic market and/or natural resources have inevitably attracted foreign investors in Africa. South Africa, Nigeria, Ivory Cost, and Angola have been traditionally the main recipients of FDI within the region. Over the past decade, several African countries have attempted to improve their business climate in an effort to attract foreign companies. Establishing a competitive business climate is a difficult task because it takes time not only to implement policies but also to convince potential investors. In the case of Africa, it is even more difficult because most countries are not even on the radar screen of most companies. In 1997, we found that Mozambique, Namibia, Senegal and Mali were perceived as the countries with the most attractive investment environments. Those countries were also able to attract substantial FDI inflows, more than countries that have bigger local market (Kenya, Cameroon, Congo) and/or natural resources (Congo, Zimbabwe). To improve the climate for FDI, an econometric analysis indicates that strong economic growth and aggressive trade liberalization can be used to fuel the interest of foreign investors. Similarly, a closer look at the experience of Mali and Mozambique two countries that have shown a spectacular improvement in their business climate during the 1990s reveals that the implementation of a few visible actions is essential in the strategy of attracting FDI. Beyond macroeconomic and political stability, those countries focused on a few strategic actions such as: opening the economy through a trade liberalization reform; launching an attractive privatization programme; modernizing mining and investment codes; adopting international agreements related to FDI; developing a few priority projects that have a multiplier effects on other investment projects; and mounting an image building effort with the participation of high political figures, including the President. Interestingly, these actions do not differ significantly from those that have been identified behind the success of other small countries with limited natural resources such as Ireland and Singapore about twenty years ago. 13
14 References Drabek, Zdenek and Warren Payne (1999). The impact of transparency on foreign direct investment, Staff Working Paper, EAR (Geneva: World Trade Organization). Elbadawi, Ibrahim and Mwega Francis M. (1997). FDI in Africa (Washington D.C.: World Bank), mimeo. Lall, Sanjaya (2000). FDI and development: research issues in the emerging context, (Oxford: Oxford University), mimeo. Madani, Dorsati (1999). A review of the role and impact of export processing zones, Policy Working Paper, No (Washington D.C.: World Bank). Pigato, Miria (1999). Foreign direct investment in Africa: old tales and new evidence (Washington D.C.: World Bank), mimeo. Singh, Harinder and Kwang Jun (1995). Some new evidence on determinants of foreign direct investment in developing countries, Policy Research Working Paper, No (Washington D.C.: World Bank). Srinivasan, Krishna (1999). Foreign direct investment in Africa: some case studies (Washington D.C.: International Monetary Fund), mimeo. United Nations Conference on Trade and Development (UNCTAD) (1998). World Investment Report 1998: Trends and Determinants (New York and Geneva: United Nations), United Nations publication, Sales No. E.98.II.D.5. (1999). Foreign Direct Investment in Africa: Performance and Potential (New York and Geneva: United Nations), United Nations publication, UNCTAD/ITE/IIT/Misc.15. and International Chamber of Commerce (ICC) (forthcoming). (New York and Geneva: United Nations; Paris: ICC). Guide d' Investment du Mali Wells, Louis T. (2000). Cutting red tape: lessons from a case-based approach to improving the investment climate in Mozambique in Administrative Barriers to Foreign Investment by James Emery, Melvin Spence, Louis Wells and Timothy Buehrer, FIAS Occasional Paper N. 14, Washington, DC., Wheeler, David and A. Mody (1992). International investment location decisions: the case of U.S. firms, Journal of International Economics, 33, pp World Bank (1999). World Development Report (Washington D.C.: World Bank). World Economic Forum (1998). The Africa Competitiveness Report, World Economic Forum, Geneva, Switzerland 14
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Loudspeaker installations don't come more discreet than the Ci50 Soundlight System. A full bandwidth sound system consisting of four satellite speakers and a twin-ported subwoofer, the only visible components are designed to be virtually indistinguishable from a standard 50mm low voltage light fitting once installed.The subwoofer itself is hidden out of sight in the ceiling void, with a 100mm (4in.) dual coil bass driver pumping sound into the room via two ingenious flexible ports. There's nothing discreet about the way it performs, though - by combining high quality drivers with innovative KEF engineering, response is fluid and accurate across the frequency range and the sound image has astonishing clarity and power for the speaker size.Features and BenefitsThe Ci50 Soundlight System combines 10-100W per channel power handling and 88dB sensitivity, for a maximum in-room SPL of 92dB. The Ci50 Soundlight System is purpose-built for flush mounting into Ceilings and ceilings. The Ci50R speakers are mounted with KEF's standard lighting style fitting. It is available in White, Chrome, Brass or Brushed Steel bezels. The Ci50SW subwoofer is ceiling mounted by using the joist or suspended ceiling brackets included.ApplicationsThe Ci Series Ci50 Soundlight System is best suited where high quality background music and speech reinforcement applications require hi-fi performance such as:• Multi Room systems• Lounges, Bars, Boutiques• Boardrooms & Offices
Architectural SpecificationsThe Ci Series Ci50 Soundlight System comprises four satellite Ci50R 50mm full range speakers and a band pass, dual ported Ci50SW subwoofer with a 100mm, dual coil bass unit, and passive crossovers, for in-ceiling void installation.System performance should meet or exceed the following criteria: frequency response 1 metre on-axis with swept sinewave shall be 62Hz to 20kHz, system sensitivity shall be at least 88dB for 2.83V@1m, both channels driven.The system impedance shall be 4 ohms. Model Ci50R Soundlight SystemNominal Impedance 4ΩSensitivity (2.83V @ 1m) 88dBFrequency Response +/-6dB 2pi/open-backed 62 - 20kHzFrequency Response +/-6dB With back can/rear enclosure 62 - 20kHzCrossover Frequency 220HzDrive Units (LF / MF / HF) 100mm / 4 x 50mm / -Recommended Amplifier Power 10-100WFeatures Subwoofer packaged with 4 x Ci50R in the Soundlight SystemProduct External Dimensions (Diameter / Width / Depth) Subwoofer unit: 350mm / Subwoofer unit: 180mm / Subwoofer unit: 104mmCut-out Dimension (Diameter) Soundlight: 65mm / Subwoofer: NoneMounting Depth from Surface (Product only / With back can) Please see the product manual / -
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Richard Taylor
Reclaiming the Blade
Explore the history of the sword in this cutting-edge documentary, which traverses the globe to interview archaeologists, research scientists and martial arts experts from Europe, the United States and Asia. Special guests include Hollywood fight choreographer Bob Anderson, historical fencing expert John Clements, illustrator and conceptual designer John Howe and swashbuckling actor Viggo Mortensen. John Rhys-Davies narrates.