Latest news with #economicBenefits
Russia Today
08-07-2025
- Business
- Russia Today
Stop using the US dollar
Countries around the globe should give up on the US dollar and rely on national currencies in trading with each other, Bolivian President Luis Arce told RT on the sidelines of the 17th BRICS summit in Rio de Janeiro. The BRICS members have intensified efforts to reduce their reliance on third-party currencies in bilateral trade after the West froze Moscow's assets, mostly held in dollars and euros, as part of sanctions following the escalation of the Ukraine conflict in February 2022. In his interview with RT on Monday, Arce made it clear that he supports BRICS' policies, saying that as part of 'decoupling' from the US, 'we need as countries in the world… to stop using the US dollar. We have also proposed it.' 'It is better to trade and trust in our own currencies or, at the very least, look for alternative payment mechanisms,' he stressed. The Bolivian leader said that there is currently 'a very clear struggle between the old, declining bloc of the US and Europe versus the emerging bloc of the BRICS countries.' 'We no longer believe that there is dominance by a single country on our planet,' he noted, referring to the US. By obtaining the status of a BRICS partner country this year, Bolivia gained the opportunity to 'access large markets and become part of the bloc that will undoubtedly generate economic benefits for everyone,' Arce said. BRICS, established in 2009, currently includes Brazil, Russia, India, China, South Africa, Egypt, the UAE, Ethiopia, Indonesia and Iran. In early 2025, Bolivia, Belarus, Bolivia, Indonesia, Kazakhstan, Malaysia, Thailand, Uganda, Uganda and Uzbekistan became partners of the bloc. In June, they were joined by Vietnam. On Monday, US President Donald Trump threatened to impose an additional 10% tariff on any country which 'aligns itself' with BRICS, accusing the economic bloc of adopting 'anti-American policies.' In February, Trump declared BRICS 'dead' and warned that its members would face 100% duties if they 'play games with the dollar.' The same day, Russian Finance Minister Anton Siluanov told RT that trading in national currencies has been effective in freeing the BRICS members from Western pressure. Such settlements 'have proven their reliability and independence from Western lending institutions that at any moment, as it turned out, can suspend payments,' he said. Russian Foreign Minister Sergey Lavrov said last year that Russia has been doing 65% of its trade with fellow BRICS countries in national currencies.
Irish Times
26-06-2025
- Irish Times
How cycling has economic as well as health benefits
Cycling is often dismissed as a niche mode of transport, favoured only by fitness enthusiasts or environmental advocates. Recent figures suggest that as a mode of transport, Ireland still has stubbornly low levels of cycling at 1.9 per cent of all trips. This is a huge missed opportunity to capitalise on the health and economic benefits of active travel. Despite funding increases towards cycling and walking since 2020, Ireland's transport policies and associated investments still prioritise cars. The cycling infrastructure we do have is not designed in ways that attract women and older people, who tend to prefer safe, segregated cycle lanes that are generously designed. They also prefer their cycle lanes to be part of a continuous, connected network – one that facilitates gentle speeds and all kinds of bicycles and mobility aids. READ MORE I was privileged to attend this year's world cycling summit in Gdansk, Poland recently. This was was also known as Velo-city 2025. The conference included inspiring sessions about mobility policy, urban design, technologies and behavioural change. What stood out for me most were the sessions that highlighted the social and economic benefits of cycling. In the Netherlands , about 27 per cent of all trips are taken by bicycle. Interestingly, the production value of bicycles reached €3.24 billion in 2022, an increase of 79 per cent since 2015, with 3,495 companies involved in the bicycle sector and 13,800 jobs. The economic returns include reducing healthcare costs, boosting productivity and saving households money – while also delivering environmental and public health gains. The cycling economy is now moving into a new phase of shared mobility services such as bike-share schemes, bike leasing and mobility hubs. Such hubs are designed to make multi-modal trips easier, such as a commute that combines a bike ride or car trip to a train or bus station, followed by a bike rental at the other end to the final destination. At a national level, cycling infrastructure is far cheaper to build and maintain than roads for cars. A kilometre of urban road can cost millions, whereas high-quality cycle lanes require significantly less investment. The Netherlands spends approximately €30 per person annually on cycling infrastructure – a modest sum compared to the €500 million per year saved in reduced traffic congestion and healthcare costs. Studies show that every €1 invested in Dutch cycling infrastructure returns €5-€19 in economic benefits, thanks to lower air pollution, reduced road maintenance and improved public health. Researchers who analysed the cost-benefit frameworks currently used to assess bicycle infrastructure projects in Copenhagen reported that the cost to society of 1km of car driving is more than six times higher (€0.50/km) than cycling (€0.08/km), when collisions, climate change, health and travel time are considered. The Dutch cycling ecosystem is not just about bicycles and spare parts: the cycling economy includes the use of the bicycle for utility, logistics, recreational and tourism purposes. For 'last mile' logistics, cargo bicycles are both cost effective and highly efficient alternatives to the ubiquitous vans and lorries that often needlessly clutter up Irish towns and cities. Evidence from the Netherlands shows that bike-friendly streets increase retail sales by up to 25 per cent As for the health benefits, regular cycling reduces the risk of chronic illnesses by up to 27 per cent, leading to fewer hospital admissions and lower medical costs. These benefits increase with age. To recoup these benefits, therefore, cycling infrastructure must be attractive, safe and inviting to older people. In the Netherlands, cycling prevents around 6,500 premature deaths each year, saving the healthcare system €3 billion annually. Additionally, cyclists take 15 per cent fewer sick days, boosting workforce productivity. It is a tragedy that so many proposals for cycle lanes still meet public opposition, often fuelled by misinformation about the economic impact. The perception that cycle lanes will result in lost revenue to local business is usually mistaken. Repeated studies show either neutral or largely positive impacts from replacing car-parking spaces with cycling infrastructure. Evidence from the Netherlands shows that bike-friendly streets increase retail sales by up to 25 per cent. Cyclists and pedestrians stop more frequently and spend more in local shops than drivers. [ 'Amsterdam is a whole lot easier to get around than Dublin ... You get a much better quality of life here' Opens in new window ] [ Visit Copenhagen: Great food, self-assured style and bicycles in Denmark's capital Opens in new window ] And finally, tourism is another key component of the cycling economy. The Netherlands attracts 4.5 million cycle tourists annually, generating €1.2 billion in revenue. Ireland's growing network of greenways are ideal for similar growth but require sustained investment and great public appreciation of their local benefits. Expanding cycling infrastructure nationwide and creating a Wild-er Atlantic Way that caters for cyclists could create thousands of jobs in hospitality, bike rentals and maintenance services. If we want to make these benefits accessible to all, cycling infrastructure will need to cater to the safety concerns of women, people with disabilities and older people, for whom the benefits of cycling are particularly pronounced. Additionally, investment will need to increase dramatically to create the connected networks that allow cycling to become a realistic and safe alternative to driving. Sadhbh O'Neill is a climate and environmental researcher
Forbes
23-06-2025
- Health
- Forbes
Examining The Economic Case For College Mental Health
U.S. Dollar Signs In 2021, the American Council on Education conducted a survey of college and university presidents, which indicated that student mental health was the top-rated pressing issue. Many presidents are currently tasked with balancing the need to support student mental health with demands from other campus departments, financial constraints, as well as federal and state policies. Furthermore, the rise of preventive and online services from third-party vendors might make it difficult for some administers to know what financial investments could have the greatest returns. Daniel Eisenberg is a professor of health policy and management at UCLA and obtained a doctoral degree in economics from Stanford University. He's a principal investigator of the Healthy Minds Network (HMN) for Research on Adolescent and Young Adult Mental Health, which administers national survey studies on college student mental health. Eisenberg argued that economic evaluations of mental health services could help administrators balance their priorities, as well as highlight the financial benefits that many campus counseling centers provide. He stated, '…our research indicates that there is a fairly strong economic case for investing in student mental health.' The Economic Benefits Of Improved Student Mental Health A 2024 report by the Center of Collegiate Mental Health indicated that counseling centers are remarkably effective in reducing distress and suicide ideation among students with elevated risk. While protecting against suicide, and providing crisis response services on campus, avoids emotional/financial costs to families and schools, the financial impact extends to local communities. According to a 2020 report by the Substance Abuse and Mental Health Service Administration, the average cost per case for a community mobile crisis program is $1,520, including $455 related to the mobile crisis unit being on site. Many counseling centers don't rely on mobile crisis programs, meaning that these savings to their communities are significant. Counseling services are also effective in treating non-crisis concerns and are associated with improved academic outcomes. For example, a 2005 study in the Journal of Mental Health Policy and Economics found that untreated diagnosed depression was associated with 0.49 decrease in GPA, while receiving treatment was associated with a .044 increase in GPA. Academic performance is often a high priority for administrators, but Eisenberg argued that the financial implications of this also benefits society. He said, '…the students will end up with higher levels of education and greater lifetime earnings, which are important economic benefits for them and their communities… These economic benefits are relevant for communities on local and national scales, because we are talking about a more skilled and productive workforce emerging from higher education.' Eisenberg's argument is supported by a 2019 report by the United States Federal Reserve System, which described college education as a path to higher incomes and greater economic well-being. Another improved academic outcome associated with student mental health is university retention. According to Eisenberg, "Reducing depressive symptoms, for example, is likely to lower the likelihood that students leave college before graduating. This means that student mental health interventions can help institutions retain tuition and other enrollment-driven revenue…' Eisenberg's argument is supported be a 2024 study in the Journal of College Student Mental Health, which found that about two-thirds of counseling center clients stated that services helped them stay in school. These savings on tuition revenue extend multiple years until graduation. Furthermore, as the 2024 study indicated, the retention rate among counseling center clients was higher than the overall campus population. Thus, campus counseling centers can have a significant financial impact on the revenue of institutions. Return On Investment Related To Student Mental Health In 2019, Eisenberg helped create a report with the American Council on Education about investing in student mental health. This report provided a link to an online return on investment (ROI) tool that can be customized to understand the economic returns from specific mental health investments. Eisenberg stated, 'Schools can use this online calculator to generate estimates for the economic case of investing in student mental health programs at their institution." The professor further argued that schools should invest in services with established effectiveness. A possible example is a 2025 report by Inside Higher Ed, which discussed a statewide agreement with a telehealth provider. This report argued that more information is needed to determine if this service increased the capacity of counseling centers and if the mental health of students improved over time. According to Eisenberg, knowing the effectiveness of a service is vital. He commented, 'That said, if institutions can identify mental health programs without solid evidence of effectiveness, and replace those with programs that have stronger evidence, that is likely to yield improvements in terms of student wellbeing and economic consequences.' Campus counseling centers are uniquely effective due to their general location, established facilities, easy access to licensed mental health providers, and real-time connections with campus stakeholders. When financial concerns affect a school, administrators often consider constraining their investments. However, Eisenberg warned about negative economic consequences for reducing mental health services on campuses. He argued, 'The negative economic consequences of decreasing investments would be the exact flip side of the positive consequences.'
CTV News
15-06-2025
- Business
- CTV News
CTV National News: G7 Summit shines global spotlight on Banff and the Canadian Rockies
Watch As world leaders and media descend on Banff, locals welcome the spotlight, protests, and promise of lasting economic benefits. CTV's Kathy Le reports.
Yahoo
31-05-2025
- Business
- Yahoo
Service station expansion expected to get go-ahead
Plans to double the size of a service station look likely to be approved. Gillingham Services, in south Norfolk near Beccles, could expand if South Norfolk Council's planning committee offers the green light to the scheme on Wednesday. Council officers have recommended it is given the go-ahead. The bid would see a new Marks and Spencer's shop and a Greggs drive-through built. The current services, off the roundabout between the A146 and A143 Norwich Road close to the Norfolk-Suffolk border, include a petrol station, McDonald's, KFC and Starbucks. The council has received dozens of objections from locals with concerns, including fears about increased noise and light pollution, as well as heavy traffic in the area. The proposed development includes a farm shop, electric vehicle charging hub, and six other trade units in addition to Marks and Spencer's and Greggs. The plans also include a battery energy storage system (BESS) but few details are known about its design and scale at this stage. It is expected that the development will create around 115 full-time jobs. In a report to councillors, officers acknowledged concerns, but said the development would provide "overriding" economic and social benefits. Follow Norfolk news on BBC Sounds, Facebook, Instagram and X. Local Democracy Reporting Service South Norfolk Council
