news blog from Tammie

~ Thursday, October 20 ~
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World’s first malaria vaccine works in major trial


Final-stage trial data released on Tuesday showed it gave protection against clinical and severe malaria in five- to 17-month-olds in Africa, where the mosquito-borne disease kills hundreds of thousands of children a year.”These data bring us to the cusp of having the world’s first malaria vaccine,” said Andrew Witty, chief executive of the British drugmaker that developed the vaccine along with the non-profit PATH Malaria Vaccine Initiative (MVI).While hailing an unprecedented achievement, Witty, malaria scientists and global health experts stressed that the vaccine — known as RTS,S or Mosquirix — was no quick fix for eradicating malaria. The new shot is less effective than others against common infections like polio and measles.”We would have wished that we could wipe it out, but I think this is going to contribute to the control of malaria rather than wiping it out,” Tsiri Agbenyega, a principal investigator in the RTS,S trials in Ghana, told Reuters at a conference in Seattle about the disease.Malaria is endemic in more than 100 countries worldwide and killed around 781,000 people in 2009, according to the World Health Organization.Control measures such as insecticide-treated bednets, indoor spraying and the use of combination anti-malaria drugs have helped cut the numbers of malaria cases and deaths significantly in recent years, but experts say an effective vaccine is vital to complete the fight against the disease.The new data, presented at the Bill & Melinda Gates Foundation’s Malaria Forum conference in Seattle and published simultaneously in the New England Journal of Medicine, were the first from a final-stage Phase III clinical trial conducted at 11 trial sites in seven countries across sub-Saharan Africa.The trial is still going on, but researchers who analyzed data from the first 6,000 children found that after 12 months of follow-up, three doses of RTS,S reduced the risk of children experiencing clinical malaria and severe malaria by 56 percent and 47 percent respectively.”We are very happy with the results. We have never been closer to having a successful malaria vaccine,” said Christian Loucq, director of PATH MVI, who was at the Seattle conference.Loucq added that widespread use of insecticide-treated bednets in the trial — by 75 percent of people taking part — showed that RTS,S can provide significant protection on top of other existing malaria control methods.Results in babies aged six to 12 weeks are expected in a year’s time and, if all goes well, GSK believes the vaccine could reach the market in 2015.Getting it to the African infants that need it will take a concerted effort from international funders, such as the Gates Foundation that helped pay for the research. Health experts say it must be cheap enough to be cost-effective.Witty declined to say if a course of three shots would cost under $10 but told reporters RTS,S would be priced as low as possible. The company has previously said it will charge only the cost of manufacture plus a 5 percent mark-up, which will be reinvested into tropical disease research.”We are not going to make any money from this project,” Witty said.PARASITE IN SALIVAMalaria is caused by a parasite carried in the saliva of mosquitoes. The RTS,S vaccine is designed to kick in when the parasite enters the human bloodstream after a mosquito bite. By stimulating an immune response, it can prevent the parasite from maturing and multiplying in the liver.Without that immune response, the parasite gets back into the bloodstream and infects red blood cells, leading to fever, body aches and in some cases death.RTS,S’s co-inventor Joe Cohen said the data were robust and consistent with earlier trials which also showed around 50 percent efficacy. Side effects, including fever and injection-site swelling, were similar in children given RTS,S and a control vaccine.After working for 24 years on developing the shot, he said he was “very proud of what we have achieved.Some external commentators were cautious about the vaccine’s potential — health experts normally like to see a success rate of 80 percent plus in a vaccine — but said it was an important development that should save many lives.”We’re probably not there yet, but this is a really important advance in science,” Peter Agre, director of the John Hopkins Malaria Research Institute and a former Nobel prize winner, told Reuters at the Seattle Malaria Forum.

Tags: Worlds first malaria vaccine works in major trial
~ Tuesday, October 18 ~
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CORRECTED-UPDATE 2-IMF tells Belarus fresh credit depends on reform


* IMF wants wage restraint, higher interest rates* Ex-Soviet republic hit by high inflationBy Andrei MakhovskyMINSK, Oct 17 (Reuters) - The International Monetary Fund on Monday stressed the need to restrain wage growth in Belarus and said the leadership of President Alexander Lukashenko would have to show clear commitment to reform if it hoped to secure new IMF credit.The ex-Soviet republic is in the grip of a severe financial crisis which has drained its foreign currency reserves, forced a 65 percent devaluation in the national currency and pushed inflation up to 75 percent in the year to date.Minsk has put out feelers for a possible new stand-by credit programme from the IMF of up to $7 billion, according to financial sources.Chris Jarvis, head of a visiting IMF mission, said that while the Fund applauded the partial floating of the Belarussian rouble as “an important step forward” there was a danger that gains could be wiped out by high inflation.Speaking to journalists, he said Belarus had to raise interest rates more sharply and the authorities should refrain from any further public wage increases.The IMF wants Belarus, which is run for the most part on old Soviet lines, to carry out structural and economic reforms to fully liberalise the economy.”The authorities should also continue with and accelerate their work on structural reform, especially enterprise reform, privatization, price liberalization and banking sector reform,” Jarvis said in a statement.”Deep structural reform is needed for Belarus to achieve strong and lasting growth and to increase living standards in a durable way,” he added.FOLLOW-UP ACTION NEEDEDIn a comment angled at Lukashenko, Belarus’s authoritarian leader, Jarvis said the country’s “highest” authorities had to show a clear commitment to reforms and follow through with action if a fresh programme was to be forthcoming from the Fund.”Before programme negotiations could begin, as a first step, the authorities will need to demonstrate a clear commitment, including at the highest level, to stability and reforms and to reflect this commitment in their actions,” he said.He implicitly criticised Lukashenko for raising public sector wages shortly before an election last December in which he won a fourth consecutive term in power, which is disputed by the political opposition and in the West.”Wage restraint is … crucial. The role of the November 2010 wage increase in contributing to the crisis … is now widely recognised,” he said.After a previous IMF programme had been completed in 2010 there had been a softening in economic policy especially in credit policy and in the pay sector, he said.Belarus has introduced special free-trade sessions for the rouble, while maintaining a separate official exchange rate tightly controlled by the central bank.While this official rate stood on Monday at 5,692 roubles per dollar, it was down at 8,990 per dollar in the free-float trading session, up slightly from its low point of 9,010 last Friday.The Fund wants the national currency to be able to trade freely across the board and authorities are indicating they may meet the IMF on this point.A senior government official said on Saturday that Belarus would lift administrative caps and reinstate free currency trading.”The government along with the National bank made the decision to carry out all currency trading in one session starting Oct. 20 … with a flexible exchange rate regime,” Deputy Prime Minister Sergei Rumas told Belarusian STV channel.”The government will not use administrative measures to influence the currency exchange regime,” he said.The government curbed free currency trade in March in an effort to rescue the rouble, which nevertheless was subsequently devalued twice, losing 65 percent of its value in all against the dollar.

Tags: CORRECTEDUPDATE 2IMF tells Belarus fresh credit depends on reform
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~ Monday, October 17 ~
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UPDATE 1-Pecik has options on 5.5 pct of Telekom Austria


* Telekom Austria shares up 2 pct, outperform telecoms indexVIENNA, Oct 17 (Reuters) - Investor Ronny Pecik has secured options via several companies to buy about 5.5 percent of Telekom Austria , the company said on Monday.The announcement comes two weeks after media reports said Egypt’s Orascom Telecom was preparing a hostile takeover using Pecik as a cover.Pecik bought “exercisable at any time” call options on Friday via his private RPR foundation. The purchase will be completed via the foundation’s subsidiaries Marathon and Marathon Two Beteiligungs GmbH, two companies also run by Pecik, a spokesman for the investor said.Marathon Two Beteiligungs GmbH has the option, until June 18 next year, to obtain 5.4 percent of Telekom Austria voting rights. Including stakes owned by other companies, Pecik could own about 5.485 percent of Telekom shares.Telekom Austria shares are up more than 11 percent so far this month. The shares were up 1.6 percent at 8.38 euros by 1255 GMT, outperforming a flat European telecoms index .Citing unnamed sources, daily Wirtschaftsblatt reported earlier this month Telekom Austria was preparing its defences against a possible hostile takeover bid and that it would hire Merrill Lynch for advice.The paper said Telekom Austria could widen its share buyback programme or look for a “white knight” investor to fend off the unwanted advances, with Spain’s Telefonica , Russia’s VimpelCom , Norway’s Telenor and Turkey’s Turkcell seen as likely candidates.Samih Sawiris, the brother of Orascom Telecom owner Naguib Sawiris, told Swiss newspaper Sonntagszeitung his brother was looking for acquisitions in Switzerland and Austria.”My brother knows the telecom business very well and has earned a lot of money with it. My brother is looking to expand in Switzerland and Austria,” he was quoted as saying this weekend.

Tags: UPDATE 1Pecik has options on 55 pct of Telekom Austria
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UPDATE 1-Investor group to vote against Murdochs at News Corp AGM


* HEOS says will also withhold support from Siskind and KnightLONDON, Oct 14 (Reuters) - Rupert Murdoch’s campaign to keep control of News Corporation suffered a fresh blow on Friday after another key shareholder group called for his eviction from the board of the embattled media company.Hermes Equity Ownership Services (HEOS) the shareholder advisory service affiliated to Britain’s largest pension fund, issued a rallying cry to investors to eject Murdoch and sons James and Lachlan from the board at its upcoming annual meeting on Oct. 21.The organisation, which votes on behalf of the BT Pension Fund and more than 20 other institutional clients running $140 billion of assets, has also called for an independent investigation into the phone hacking scandal that forced the closure of top-selling British tabloid The News of the World.”The time is right for the company to appoint an independent chairman to rebuild trust, help correct the governance discount, and ensure that the interests of all investors are properly represented,” Jennifer Walmsley, Director of Hermes Equity Ownership Services, said.”News Corp has not reacted with sufficient urgency to investor concerns about its board composition and corporate culture,” Walmsley added.HEOS also said it would withhold support for the re-election of directors Arthur Siskind and Andrew Knight, citing concerns for their independence.The statement from HEOS follows a flurry of anti-Murdoch lobbying from corporate governance watchdogs all over the world.Earlier this week, News Corp hit back at critics including ISS in a letter to shareholders which said the “disproportionate focus” on the News of the World phone hacking saga was “misguided”.

Tags: UPDATE 1Investor group to vote against Murdochs at News Corp AGM
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~ Friday, October 14 ~
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Indian rupee, stocks extend gains after inflation data


The main share index extended gains to 0.7 percent from 0.5 percent before the data.The benchmark 10-year bond yield briefly fell 1 basis point to 8.77 percent.

Tags: Indian rupee stocks extend gains after inflation data
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