Nobel 2017 season opens with medicine prize

Agencies
October 2, 2017

Stockholm, Oct 2: This year's Nobel season opens Monday with the announcement of the medicine prize, turning the page on Bob Dylan's literature prize stunner that stole the spotlight in last year's award season.

Like every year, speculation is rife about the possible winners, given the number of worthy laureates in the fields of medicine, physics, chemistry, literature, peace and economics.

The Nobel medicine prize committee at the Karolinska Institute is first out to announce its choice of laureates, on Monday at 11:30 am (0930 GMT) at the earliest.

Sweden's newspaper of reference, Dagens Nyheter, suggested American oncologist Dennis Slamon could be honoured for his research on breast cancer and the drug treatment Herceptin.

Or possibly American James Allison, a pioneer in the field of immunotherapy that combats cancer cells and the winner of the 2015 Lasker Prize -- often considered the US equivalent of a Nobel medicine prize. If this method were awarded, Allison could share the prize with Arlene Sharpe and Gordon Freeman.

Meanwhile Swedish public radio SR tipped the prize could go to researchers who worked on a cure for Hepatitis C, Ralf Bartenschlager of Germany and Americans Charles Rice and Michael Sofia -- a trio also awarded the Lasker Prize, in 2016.

Waves, scissors or batteries?

The medicine prize will be followed by the physics prize announcement on Tuesday, with the discovery of gravitational waves regularly mentioned as a possible winner.

Sending ripples through space and time, gravitational waves were first predicted by Albert Einstein a century ago as part of his theory of general relativity, but the first hard evidence of their existence came only in 2015, when two US detectors found the first such signal.

That discovery could however be considered too recent by the Nobel committee.

According to Dagens Nyheter, the jury could instead choose to honour the discovery of exoplanets by Swiss astrophysicians Michel Mayor and Didier Queloz.

On Wednesday, the chemistry prize committee could give the nod to a gene-editing technique known as the CRISPR-Cas9 DNA snipping tool, a type of genetic "scissors" used to cut out a mutated gene in a human embryo and replace it by a corrected version.

But that discovery could also be too early for a Nobel, as a legal dispute rages over who discovered the technique.

It has been claimed on the one hand by the French-American research duo of Emmanuelle Charpentier and Jennifer Doudna, and on the other by Chinese-born American Feng Zhang.

Another recurring favourite for the chemistry prize is John Goodenough, a 95-year old electrochemist whose pioneering work led to the invention of rechargeable lithium ion battery present in cell phones, computers and electric cars.

Anti-nuke buzz for peace prize

Perhaps the most watched Nobel is the peace prize, the only one to be announced in Oslo and due on Friday.

This year, anti-nuclear efforts could win, some have suggested. Tensions have escalated between Washington and Pyongyang after North Korea's sixth nuclear test, and there is growing uncertainty over the Iran deal, which US President Donald Trump has threatened to tear up.

Two key orchestrators of that accord, Iranian Foreign Minister Mohammad Javad Zarif and EU foreign policy chief Federica Mogherini, are seen as strong contenders by the head of the Peace Research Institute of Oslo (Prio), Henrik Urdal.

"With North Korea also at stake, it's very important to support initiatives that guard against the development and proliferation of nuclear weapons," he said.

The names of the candidates are kept secret for at least 50 years, but those eligible to nominate candidates — including former laureates, lawmakers and government ministers around the world, and some university professors — are allowed to disclose their choices.

Those believed to be on the list include Syria's White Helmets rescue service, Congolese doctor Denis Mukwege, jailed Saudi blogger Raif Badawi and Edward Snowden, who revealed the scope of America's NSA electronic surveillance programme.

Meanwhile, the Swedish Academy has yet to set the date for its literature prize announcement, but it traditionally falls on a Thursday so October 5 and 12 are seen as possible dates.

The Academy's choice of US singer songwriter Bob Dylan last year was so divisive that Stockholm's literary circles have predicted the Academy will go for a more conservative name this year, such as Italy's Claudio Magris, Kenya's Ngugi wa Thiong'o, Canadian author Margaret Atwood or Syrian poet Adonis.

The economics prize will be announced on October 9.

This year, each Nobel comes with a nine million kronor ($1.1-million, 940,500-euro) prize sum, to be shared if several laureates are honoured in the same discipline.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 22,2020

Feb 22: A 20-year-old Chinese woman from Wuhan, the epicentre of the coronavirus outbreak, travelled 400 miles(675 km) north to Anyang where she infected five relatives, without ever showing signs of infection, Chinese scientists reported on Friday, offering new evidence that the virus can be spread asymptomatically.

The case study, published in the Journal of the American Medical Association, offered clues about how the coronavirus is spreading, and suggested why it may be difficult to stop.

"Scientists have been asking if you can have this infection and not be ill? The answer is apparently, yes," said Dr. William Schaffner, an infectious disease expert at Vanderbilt University Medical Center, who was not involved in the study.

China has reported a total of 75,567 cases of the virus known as COVID-19 to the World Health Organization (WHO) including 2,239 deaths, and the virus has already spread to 26 countries and territories outside of mainland China.

Researchers have reported sporadic accounts of individuals without any symptoms spreading the virus. What's different in this study is that it offers a natural lab experiment of sorts, Schaffner said.

"You had this patient from Wuhan where the virus is, travelling to where the virus wasn't. She remained asymptomatic and infected a bunch of family members and you had a group of physicians who immediately seized on the moment and tested everyone."

According to the report by Dr Meiyun Wang of the People's Hospital of Zhengzhou University and colleagues, the woman travelled from Wuhan to Anyang on Jan. 10 and visited several relatives. When they started getting sick, doctors isolated the woman and tested her for coronavirus. Initially, the young woman tested negative for the virus, but a follow-up test was positive.

All five of her relatives developed COVID-19 pneumonia, but as of Feb. 11, the young woman still had not developed any symptoms, her chest CT remained normal and she had no fever, stomach or respiratory symptoms, such as cough or sore throat.

Scientists in the study said if the findings are replicated, "the prevention of COVID-19 infection could prove challenging."

Key questions now, Schaffner said, are how often does this kind of transmission occur and when during the asymptomatic period does a person test positive for the virus.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 6,2020

New Delhi, Mar 6: Shares of YES Bank and State Bank of India came under huge selling pressure on Friday as developments unfolded regarding SBI picking stake in the private lender. Shares of the lender hit record low of Rs 5.55, plunging 85 per cent, and were trading below its previous low of Rs 8.16 hit on March 9, 2009.

SBI, on the other hand, slumped 11 per cent to Rs 257.35 on the BSE. The benchmark S&P BSE Sensex was trading with a cut of over 3 per cent at 37,251.37 level.

In the past three months, share price of the private lender has plunged 41 per cent, while the state-owned lender has slipped 14 per cent. In comparison, the S&P BSE Sensex has dipped 5.6 per cent till Thursday.

On Thursday, the Reserve Bank of India superseded the board of troubled private sector lender YES Bank and imposed a 30-day moratorium on it “in the absence of a credible revival plan” amid a “serious deterioration” in its financial health.

During the moratorium, which came into effect from 6 pm on Thursday, YES Bank will not be allowed to grant or renew any loans, and “incur any liability”, except for payment towards employees’ salaries, rent, taxes and legal expenses, among others.

This is the first time that a bank of this size will be put under a moratorium by the RBI.

“The financial position of YES Bank had undergone a steady decline “largely due to inability of the bank to raise capital to address potential loan losses and resultant downgrades, triggering invocation of bond covenants by investors, and withdrawal of deposits,” RBI said in a statement.

“After the moratorium, the next step will be to infuse to money and keep the bank afloat. So from shareholders’ point of view, the future is certainly hazy as the capital requirement is huge. The good part, however, is that the RBI has stepped in and depositors don't have to worry,” says Siddharth Purohit, a research analyst at SMC Securities.

Meanwhile, analysts at Nomura believe that placing the Bank under moratorium implies that equity value in the bank would be negligible, and that the chances of private capital participating in future capital raising plan are near zero.

"Any resolution for Yes Bank is more proposed from the perspective of deposit holders and systemic stability, and not from the perspective of Yes Bank equity investors or even perpetual bond holders," they wrote in a note dated March 6.

In another development, SBI’s Board Thursday gave in-principle approval to consider an “investment opportunity” in YES Bank, even as it said “no decision had yet been taken to pick up stake in the bank”.

According to a  report, highly-placed sources indicated a rescue plan involving SBI and Life Insurance Corporation of India (LIC) was being discussed and an announcement in this regard might be made soon.

“While the finer details of the deal are being worked out, it is anticipated that both SBI and LIC together will take a 51 per cent stake in the bank, with a one-year lock-in period,” the report said.

Most analysts believe it is a positive step for the Indian financial sector as the government has tried to avoid a repeat of IL&FS-like crisis.

“The move is a positive step for the financial sector as a whole. By this, the government has tried to avoid a repeat of IL&FS-like crisis and has saved the depositors,” said AK Prabhakar, Head of Research at IDBI Capital. While we know that YES Bank has a huge pile of bad loans, SBI is the only bank that has the capacity to absorb it, he added.

However, the valuation at which YES bank would be taken over remains a cause of concern.

Global brokerage firm JP Morgan Thursday cut its target price for YES Bank on Thursday to Rs 1 per share, taking into account the potential fall in the lender’s net worth due to stressed assets.

“We believe forced bailout investors will likely want the bank to be acquired at near-zero value to account for risks associated with the stress book and likely loss of deposits. We think the bank will need to be recapitalised at nominal equity value and could test dilution of additional tier 1 (AT1) capital. We remain underweight and cut our target price to Rs 1 as we believe net worth is largely impaired,” JP Morgan said in a note.

Global brokerage firm Nomura estimates a need of Rs 25,000-44,000 crore and adjusted for Rs 7,400 crore of current coverage, if the current stress of Rs 65,000-70,000 crore faces 70 per cent loss given default (LGD).

"It implies Rs 18,000-37,000 crore needed for provisioning against the current net worth of Rs 25,700 crore Also, to run as going concern, the bank would require over Rs 20,000 crore of CET-1 capital as well," the note said.

YES Bank has registered slippages of Rs 12,000 crore so far in FY20, while it has placed Rs 30,000 crore of loan assets under the watch list. Its deposits stood at Rs 2.09 trillion on September 30, 2019, while its advances totalled Rs 2.24 trillion. The bank has delayed publishing its December quarter results by a month to March 14.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 31,2020

Jan 31: President Ram Nath Kovind on Friday hailed the contentious Citizenship Amendment Act as "historic" in his address to joint sitting of both houses of Parliament, prompting protests by some opposition members.

He also said that debate and discussion on any issue strengthens democracy while violence during protests weaken it.

"The Citizenship Amendment Act is a historic law. It has fulfilled wishes of our founding fathers including Mahatma Gandhi," he said.

"Debate and discussions strengthen democracy, but violence during protests weaken democracy," he said without directly referring to the anti-CAA protests in the country some of which have witnessed violence.

In a reference to abrogation of Article 370, Kovind said there is happiness among people of India that people in Jammu and Kashmir and Ladakh have got rights on par with the rest of the country.

The president said Parliament has created record in the first seven months of the new government headed by Narendra Modi by enacting several landmark legislations.

"My government is taking strong steps for making this decade as India's decade and this century as India's century," he said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.