CountryOpinionSurveys FY 2024 Georgia Country Opinion Survey Report ECR Business Intelligence Team | February 2024 Acknowledgements The Georgia Country Opinion Survey is part of the County Opinion Survey Program series of the World Bank Group. This report was prepared by the Business Intelligence (BI) team, led by José De Buerba (Senior External Affairs Officer) and Svetlana Markova (Senior External Affairs Officer). Yulia Danilina, Jessica Cameron, Nan Lin, and Sofya Gubaydullina oversaw the design, report ...

CountryOpinionSurveys FY 2024 Bhutan Country Opinion Survey Report ECR Business Intelligence Team | April 2024 The Bhutan Country Opinion Survey is part of the County Opinion Survey Program series of the World Bank Group. This report was prepared by the Business Intelligence (BI) team, led by José De Buerba (Senior External Affairs Officer) and Svetlana Markova (Senior External Affairs Officer). Yulia Danilina, Jessica Cameron, Nan Lin, and Sofya Gubaydullina oversaw the design, reporting, and analysis of t ...

Yemen ECONOWIC WONITOR Navigating Increased Hardship and Growing Fragmentation Spring 2024 ic Disclosure Auth ic Disclosure Autho Yemen Economic Monitor Navigating Increased Hardship and Growing Fragmentation Spring 2024 Global Practice for Macroeconomics, Trade & Investment Middle East and North Africa Region © 2024 International Bank for Reconstruction and Development/The World Bank 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org This work is a product of the staff ...

ARTICLE 6 APPROACH PAPER SERIES plic Disclosure Auth Disclosure Authoriz Considerations for CDM Methodology Concepts to Article 6.2 Mechanism WORLD BANK GROUP © 2024 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington, DC 20433 Telephone: 202-473-1000 Internet: www.orldbank.org This work is a product of the staff of the World Bank with external contributions. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the vi ...

Investment Rating - The report downgrades Moutai, Wuliangye, Laojiao, and Yanghe from Buy to Neutral, while reiterating Sell on Swellfun and Fenjiu due to their demanding valuations. Gujing is rated as the top pick with a Buy rating [4][7][39]. Core Viewpoints - The supply/demand dynamics for the baijiu sector are expected to deteriorate over the next 12 months due to potential destocking of Moutai's social inventory, capacity expansion by industry leaders, and ongoing macroeconomic challenges. The average EPS CAGR for the baijiu sector is projected to moderate to 8% from 19% during 2020-23 [1][4][39]. - The combined capacity of the top six baijiu companies is anticipated to expand by 37% from 2023 levels, while the primary drinking demographic (males aged 30-59) is expected to decline, leading to a potential 13% volume decline in baijiu consumption during 2023-25E [3][39][40]. Summary by Sections Earnings and Valuation - The report projects 2024E/25E earnings to be 8% and 17% below consensus on average. The baijiu sector is currently trading at 17x 12-month forward PE, compared to a historical average of 22x and a trough of 10x since 2010 [1][15][41]. Supply and Demand Dynamics - Moutai's wholesale prices are under pressure due to accumulated social inventory, estimated at 14-15 months' worth of sales, with an average holding cost of Rmb2,079 per bottle, approximately 10% below current prices. If supply is not contained, Moutai and Wuliangye's wholesale prices could fall by 50% and 17% respectively by the end of 2025 [2][30][33]. Demographic Trends - The primary baijiu consumer cohort is experiencing a population decline, which is expected to negatively impact sector volume growth. The report estimates a potential 13% decline in total baijiu consumption volume from 2023 to 2025 [3][39][40]. Company-Specific Insights - Gujing is highlighted as the most preferred stock due to its margin expansion opportunities, while Swellfun and Fenjiu are rated as Sell due to their high valuations [4][39].

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The report introduces a practical framework to assist the Ministry of Rural Development (MRD) of Cambodia in prioritizing investments and interventions for rural roads to achieve climate-resilient rural accessibility for poverty reduction, human development, and logistic supply [12][13]. - The proposed framework utilizes two core geospatial models: the Flood Disruption Model and the Logistic Supply Chain Model, to identify critical and climate-vulnerable road sections for prioritized interventions [13]. - The report emphasizes the importance of rural roads, which account for about 75% of Cambodia's total road network, in providing access to services and economic opportunities for the rural population [19][20]. Summary by Sections Introduction - The report aims to assist MRD in prioritizing rural road investments for climate resilience [12]. - The audience includes officials and decision-makers at MRD and other rural road authorities facing similar challenges [14]. Cambodia's Rural Road in the Face of Climate Change - Cambodia's rural road network spans over 47,000 km, with 90% remaining unpaved and undrained, posing challenges during the rainy season [20]. - Climate change increases vulnerability, with projections indicating a temperature rise of 0.7℃–2.7℃ by 2060 and more frequent extreme precipitation [24]. A Prioritization Framework for Resilient Rural Road Planning - The framework prioritizes communes based on a multicriteria analysis and selects roads through context-specific assessments [29]. - It integrates three development lenses: Inclusiveness, Human Development, and Logistic Supply, with six indicators to quantify the criticality of rural roads [30][31]. Underpinning Geospatial Models - The report details two geospatial models: the Resilient Accessibility Model and the Logistic Supply Model, which assess the criticality and vulnerability of rural roads [40]. - The Resilient Accessibility Model evaluates accessibility to key facilities, while the Logistic Supply Model simulates supply chain disruptions due to road closures [60]. Revealing the Climate Vulnerability of Rural Roads - The analysis reveals that about 70% of the rural population has access to referral hospitals within 60 minutes, and two-thirds can reach high schools within 30 minutes [71]. - The report highlights the significant impact of flooding on accessibility, with a focus on the socio-economic implications of road disruptions [70].

blic Disclosure Authori Behavioral Solutions for Successful Subsidy Reform Research Note olic Disclosure Authori July 2024 1 Contents | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------| | Acknowledgments | | Executive Summary . | | I. | The intricacy of subsidy reform: Balancing reform and the social contract ....................................... 7 | | l.i. | Definition, rationale, and functions of subsid ...

Industry Overview - The logistics sector is showing signs of normalization after the post-pandemic boom, with cooling demand, falling volumes, and inflationary pressures impacting near-term revenue forecasts [20][21] - Despite short-term challenges, the 5-year forecasts for most brands have improved year-on-year, with revenues expected to rebound once demand picks up [21] - Freight rates remain near the bottom of the market compared to the immediate post-pandemic highs [21] Top Logistics Brands - UPS retains its position as the most valuable logistics brand for the 10th consecutive year, valued at USD34.6 billion, with a AAA- brand strength rating and a Brand Strength Index (BSI) score of 80.9 [22][24] - FedEx follows as the second most valuable logistics brand, with a brand value of USD28.6 billion, down 1% from the previous year [24] - DHL ranks third with a brand value of USD12.2 billion, driven by strategic investments in sustainability, digitalization, and e-commerce capabilities [26] - JR remains the strongest logistics brand with a AAA rating and a BSI score of 86.9, despite a 13% decline in brand value to USD11.9 billion [23][27] - JINGDONG Logistics (JD Logistics) is the second strongest brand, with a brand value of USD3.5 billion, up 1%, and a BSI score of 85.2 [27] Brand Value Growth - CPKC experiences the largest brand value growth by percentage, surging 28% to USD2.7 billion, driven by its newly integrated North American network [29] - DoorDash sees a 14% increase in brand value to USD4.3 billion, climbing six ranks to become the 12th most valuable logistics brand [29] - dpd records a 10% growth in brand value to USD3 billion, supported by innovative sustainability measures such as its "Green Hub" in London [32] Sustainability Perceptions - UPS holds the highest Sustainability Perceptions Value at USD3 billion and the highest positive gap value of USD224 million, reflecting its strong sustainability efforts [34][36] - UPS aims to have 28.8% of its ground operations running on alternative fuels and has planted 34.2 million trees as part of its goal to plant 50 million trees by 2030 [36] - dpd's "Green Hub" in London, designed to be diesel-free, handles up to 80,000 parcels daily using 500 electric delivery vans and solar panels for renewable energy [32] Regional Insights - The United States dominates the logistics sector, contributing 22% of the total brand value with USD95.3 billion, followed by Germany at 13% with USD22.5 billion [39] - China accounts for 9% of the total brand value with USD14.9 billion, while Japan contributes 7% with USD11.9 billion [39]

July 2024 Industry trends Chemicals Ongoing recovery, with an uneven outlook among Global overview Rebound in Europe and the US supports higher global growth rates in 2024 and 2025. The chemical industry was amongst the worst impacted by the energy crisis in 2022 and into 2023, as output is heavily reliant on oil and gas feedstocks and requires energy- intensive manufacturing processes. High inflation and tight monetary policies kept feedstock prices high, while also causing key buyer industries and consume ...

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