Wednesday, 29 January 2014

Simple way to make stem cells hailed as major discovery

A radical and remarkably easy way to make cells that can grow into any tissue in the body has been developed by scientists in Japan.
The feat has been hailed as a major discovery by researchers familiar with the work, and if it can be repeated in human tissue, could lead to cheap and simple procedures to make patient-matched stem cells that could repair damaged or diseased organs.
In a series of elegant experiments, researchers showed that cells plucked from animals could be turned into all-powerful master cells simply by immersing them in a mildly acidic solution for half an hour.
To demonstrate the potential of the cells the scientists injected them into mouse embryos and showed that they grew into tissues and organs throughout the animals' bodies.
Haruko Obokata at the Riken lab in Kobe, Japan, told the Guardian that her team had created several dozen mice that had tissues grown from the cells, and had followed their health for one to two years. "So far they appear to be healthy, fertile, and normal," she said.
The finding has stunned many researchers because previous attempts to make stem cells have been fraught with difficulties. One route is cloning, which is controversial because it involves the creation and destruction of embryos. A more recent method, called induced pluripotency, uses genetic manipulation to convert adult cells into a more flexible, immature state.
The work, reported in two papers in the journal, Nature, was "a major scientific discovery that will be opening a new era in stem cell biology," said Dusko Ilic, a stem cell scientist at King's College London.
His enthusiasm was shared by Chris Mason, a stem cell expert at University College London. "If it works in man, this could be the game changer that ultimately makes a wide range of cell therapies available using the patient's own cells as starting material," he said.
Obokata started work on the procedure five years ago while working at Harvard Medical School.
After years of perfecting the experiments, Obokata showed that she could convert white blood cells taken from newborn mice into cells that behaved very much like stem cells. She went on to do the same with brain, skin, muscle, bone marrow, lung and liver cells. "It was very surprising to see that such a remarkable transformation could be triggered simply by stimuli from the outside," she said.
Obokata had trouble convincing other scientists, and her paper on the work was rejected several times. She eventually completed enough cross-checks to satisfy researchers that the findings were real.
Obokata calls the procedure "stimulus-triggered acquisition of pluripotency", and the resulting cells Stap cells. Immersion in a mild acidic solution, with a pH of 5.5, worked best. Squeezing cells had a similar effect but was less efficient.
Obokata said work was under way to repeat her experiments with human tissue, but that they had no results yet. One of the many outstanding questions is why cells in the body are not constantly turning into stem cells when they come into contact with acid, with heart burn, or when people drink fruit juice. The suspicion is that ability to revert to stem cells is blocked when cells are in the body.
Even if the procedure can be perfected in humans, Smith said major hurdles remain before patients could be treated with Stap cells. Any tissues grown from Stap cells would need to be proved safe in the body. Scientists would have to show they cannot turn into tumours, and demonstrate that they work with patients' healthy tissues without causing problems.
Obokata said the new procedure might have uses beyond regenerating damaged body parts, and shed light on the way cells gather wear and tear through our lifetimes. "By studying the mechanism we might be able to learn more about how the age of cells is also locked in," she told the Guardian.
Source: theguardian

Shaping the future of Central Asia by Erlan Idrissov, minister of foreign affairs of Kazakhstan

Our world is being redrawn at bewildering speed. A whole range of forces are continuing to shake up the established order, creating new challenges and opportunities. Our collective future depends on how successfully we harness them to deliver prosperity and peace.
In Kazakhstan, we have first-hand knowledge of the rapid pace of change. Our country, born out of the break-up of the Soviet Union, is scarcely two decades old. We had many obstacles to overcome to provide a better future for our citizens. But through their hard work and the vision of our leaders, we have become one of the world’s fastest growing economies and a modern, stable society at peace with itself and its neighbours.
While proud of what we have achieved so far – and as highlighted by President Nazarbayev in his recent annual State of the Nation address, ambitious for the future – we know continued progress depends not just on ourselves. In our interconnected world, success or failure rarely stays within national borders. That is why Kazakhstan and Central Asia as a whole face real challenges in the coming months.
The handing over by the International Security Assistance Force of responsibilities to their Afghan counterparts in 2014 is a critical moment for our region and the wider world. If the international community turns its back on the troubled country, there is a real risk that it could descend again into outright chaos and that instability and violence will spill increasingly over its borders.
No nation is immune from this threat. Up to now, extremists have struggled to gain a foothold in Kazakhstan. Despite a very diverse population, we have built a moderate and tolerant society where all can make a contribution.
But there is no room for complacency. We are all at risk from a rise in terrorism, the spread of hate-filled ideologies and an increase in drug smuggling, which funds extremist activities.
We are working hard to counter the distorted message of extremists in our society. We are also stepping up direct economic and humanitarian aid to Afghanistan. But the real solution to this challenge must be through increased international cooperation both within Afghanistan itself and the wider region.
It is an effort that Afghanistan’s Central Asian neighbours must help shape and lead. After all, we have the most to gain from success and the most to lose from failure. We are already discussing how we can do more together to help rebuild Afghanistan as well as improve regional security against terrorism and the drugs trade.
The long-term answer, however, must be to accelerate the growth of the entire regional economy to spread employment and prosperity in Afghanistan and all neighbouring countries. This will deny the extremists the anger and despair required for their divisive message to take root.
Improving regional infrastructure is key to this goal. Afghanistan is among the countries that can benefit from the new opportunities that will flow from the modern road, rail and energy links we are already putting in place.
The positive impact of this new Silk Road will of course be felt far beyond Afghanistan or Central Asia. As discussed at this year’s Annual Meeting in Davos, our region is a serious contender as the next economic frontier. Rich in energy and natural wealth, and strategically positioned between Europe and the fast-growing economies of the east, improved connections can provide a much-needed boost to global growth.
We need, however, to ensure this growth is not achieved at the expense of our planet. Kazakhstan, like other countries in the region, is blessed with rich natural resources that have provided a platform for economic development. But we recognize that our future depends on harnessing these resources in a sustainable way.
Through our Green Bridge initiative, we aim to bring and spread environmentally friendly knowledge and innovation across Central Asia. Expo17, being held in Astana, will also be a major platform to share the latest developments in future energy.
These challenges also demand improved regional cooperation. Scarce water resources, for example, have the potential to be both a brake on development and a source of tension. The shrinking over many decades of the Aral Sea, once one of the largest lakes on earth, has highlighted the devastating impact we can have on our own planet. We are working hard – and successfully – to reverse this environmental catastrophe.
We cannot halt the powerful forces that are changing our world. But through increased cooperation, they can be channelled to benefit us all. This is the lesson from Davos and our challenge is to turn good intentions into positive action in Afghanistan, in Central Asia and across the world.

Early morning market view

"The U.S. equity markets are seeing some pressure in early action, ahead of this afternoon's monetary policy decision by the Federal Reserve, while the overnight boost from more emerging market central bank action to stabilize the currency markets has dissipated. Treasuries are higher ahead of the Fed decision and amid festering emerging market uneasiness, while a report showed U.S. mortgage applications dipped. In earnings news, Dow member Boeing Co posted stronger-than-expected results, but offered a softer-than-estimated outlook, while fellow Dow component AT&T Inc reported disappointing wireless subscriber growth. Moreover, Dow Chemical Co topped the Street's quarterly expectations, while Yahoo Inc's display-ad revenues disappointed. Gold and the U.S. dollar are higher, while crude oil prices are mixed. Overseas, Asian stocks finished mostly higher following the emerging market central bank actions, while European equities are losing altitude alongside the U.S. markets".

Source: Schwab

BBC: Chile-Peru: Moving on from the past (?)

For six years, relations between Chile and Peru have been overshadowed by their dispute at the International Court of Justice (ICJ) in the Hague about their maritime border.
Now that dispute has been resolved, analysts say the two countries should be able to move on from their acrimonious past and forge closer ties.
"This could be a turning point," said Mario Artaza, professor at the University of Santiago and a former Chilean ambassador.
The ICJ ruling, announced on Monday, gave both countries some cause for celebration.
Map
The court ordered Chile to relinquish control of a large swathe of the Pacific Ocean and give it to Peru, a decision described by Chile's President Sebastian Pinera as "a lamentable loss" for his nation.
But the swathe was smaller than Peru had wanted.
It had asked for 38,000 sq km (23,600 sq miles) but had to settle for around 21,000 sq km. Chile gets to keep the rest, including the lucrative fishing grounds closest to its coastline.
By changing the border, the court also gave Peru an additional 28,000 sq km of sea that until now was in international waters.
Additionally, the ICJ said the maritime border should start from the same point on the coastline as it does now. Peru had wanted it moved south, further into Chilean territory.
"It's a bitter-sweet verdict," Mr Artaza said.
A Chilean nationalists with a T-shirt that reads in Spanish, "Chile is not for Sale", shows his displeasure at the recent world court ruling in Santiago, Chile, Jan. 27, 2014.
Unsurprisingly, both governments made the best of the ruling.
In Lima, Peruvian President Ollanta Humala said his country had won 70% of the area it had demanded while in Santiago, Mr Pinera said the court had heeded most of Chile's arguments.
Crucially, both countries said they would abide by the verdict.
The biggest impact of the ICJ ruling will be on Chilean fishermen in the frontier city of Arica. Although they will be still be able to fish the waters closest to the coast, they will lose access to waters further out.
One fishermen's association in Arica estimated that as a result, the fleet will be deprived of around 35% of its catch.
The Chilean government has promised to consider financial compensation for the fishermen.
And there are further hurdles to overcome.
The Peruvians want the border changes to be implemented as soon as possible while the Chileans say it will take time.
And some Chileans fear that having failed to gain everything they wanted, the Peruvians will continue to press further claims for Chilean land and sea.
"The judicial stage of this process has ended and now the political-diplomatic stage begins," said Gabriel Gaspar, an analyst at Chilean think-tank Fundacion Chile 21.
"One would like to think that from that, an agreement could be reached to ensure that Peru makes no further territorial claims against Chile."
Monday's verdict might also have implications for Chile's future relations with Bolivia, which has also taken Chile to The Hague over claims dating from the War of the Pacific.
Bolivia lodged its claim only last year and a verdict is not expected for several years.
Source:  BBC

London Metal Exchange Data

London Metal Exchange
Aluminium Alloy Cash Official Confirmed $/m tonneWed 13:301792.50
-15.00
-0.8
Aluminium Alloy 3mo Official Confirmed $/m tonneWed 13:301835.00
-5.00
-0.3
Primary Aluminium Cash Official Confirmed $/m tonneWed 13:301709.25
-3.50
-0.2
Primary Aluminium 3mo Official Confirmed $/m tonneWed 13:301753.25
-3.50
-0.2
Copper Cash Official Confirmed $/m tonneWed 13:307159.75
-11.75
-0.2
Copper 3mo Official Confirmed $/m tonneWed 13:307226.75
0.00
0.0
Lead Cash Official Confirmed $/m tonneWed 13:302154.50
+18.00
+0.8
Lead 3mo Official Confirmed $/m tonneTue 21:252154.00
0.00
0.0
N. American Special Alum Alloy Cash Official Confmd $/m tonneWed 13:301815.00
+19.50
+1.1
N. American Special Alum Alloy 3mo Official Confmd $/m tonneWed 13:301840.00
+9.50
+0.5
Nickel Cash Official Confirmed $/m tonneWed 13:3014162.50
+5.00
+0.0
Nickel 3mo Official Confirmed $/m tonneWed 13:3014102.50
0.00
0.0
Tin Cash Official Confirmed $/m tonneWed 13:3022142.50
+40.00
+0.2
Tin 3mo Official Confirmed $/m tonneWed 13:3022137.50
+62.50
+0.3
Zinc Cash Official Confirmed $/m tonneWed 13:302009.25
-0.25
-0.0
Zinc 3mo Official Confirmed $/m tonneTue 21:252004.00
0.00
0.0


Source: BBC

Euro Zone Stock Indexes Data

Stock Indexes


 Price Change%Change
FTSE6485.37
 
-86.96-1.32%
DAX9228.68
 
-178.23-1.89%
CAC 404111.31
 
-73.98-1.77%
STOXX600319.29
 
-4.93-1.52%
AEX384.72
 
-7.51-1.91%
BEL 202853.05
 
-49.52-1.71%
FTSE MIB19117.06
 
-331.26-1.70%
IBEX 359733.90
 
-145.20-1.47%
OMXS301297.49
 
-20.92-1.59%
SMI8082.90
 
-103.72

Source:  CNBC

LONDON MIDDAY: GAINS ERASED AHEAD OF FED AS EMERGING-MARKET CONCERNS REMAIN

UK markets had come off their highs by midday on Wednesday ahead of a policy decision in the States as a rate hike in Turkey failed to ease investors' concerns about emerging markets.

Mining stocks were leading the upside in London this morning after some well-received production updates from Antofagasta, Anglo American and Randgold. However, Sainsbury was leading the fallers after the surprise exit of its long-running boss Justin King.

The FTSE 100 was trading just 0.1% higher at 6,579 by lunchtime, having erased nearly all of its gains which sent it to an intraday high of 6,640 early on.

Stocks were initially given a boost by Turkey's move last night to hike interest rates in an effort to halt the recent slide in the lira which reached a record-low against thedollar on Monday. After an emergency policy meeting, the central bank lifted the overnight funding rate from 7.75% to 12% and raised the one-week lending rate from 4.5% to 10%.

"While the rate hike has helped stem lira weakness in the short term, it increases the chances of slower growth and a domestic credit crunch in the medium term," said analysts at RBS. They said that the decision highlights the "dilemma" being faced by other emerging-market central banks.

The lira strengthened this morning and was up 1.7% to 2.2154 per dollar, but had pared an earlier advance which had sent it up as much as 4% against the US currency. Other developing-nation currencies also trimmed earlier gains today.

Investors were also showing cautions ahead of the Federal Reserve's two-day policy meeting which concludes later this evening. 

The central bank, which began scaling back its monthly asset purchases in December from $85bn to $75bn, is expected make another $10bn cut this month, according to the consensus forecast.

Miners in focus

Chilean miner Antofagasta was a high riser this morning after unveiling a record year of copper production for 2013, supported by a strong output performance in the fourth quarter.

Anglo American also impressed as it reported an increase in fourth-quarter iron ore, copper, nickel and thermal coal production.

Meanwhile, Randgold Resources rose after saying that its Loulo-Gounkoto gold mine in Mali is likely to beat its revised production target for 2013.

Other miners including Fresnillo and Rio Tinto were also putting in a solid performance this morning.

Heading the other way was supermarket group Sainsbury after announcing that Chief Executive King would be stepping down in the summer. King, widely regarded as having revived the chain's fortunes in his 10 years in charge, will be succeeded by Group Commercial Director Mike Coupe.

Financials were in demand as risk appetite continued to recover after recent volatility. Barclays was among the best performers on reports that it is looking at closing a quarter of its High Street branches in the coming years and could be making 40,000 job cuts.

EUROZONE MONEY SUPPLY GROWTH SLOWED DOWN IN DECEMBER

The annual rate of growth of the Eurozone's money supply (M3) eased over the three months ended in December to 1.3 per cent from the 1.6 per cent pace seen over the three months to November, according to data released this morning by the European Central Bank (ECB). 

The consensus estimate had been for a slowdown to 1.3%. 

In year-on-year terms M3 slowed down to a 1.0% pace in December from the 1.5% clip seen in the month before. 

Notably, the annual growth rate of credit extended to the private sector was more negative at -2.4% in December, having slipped from the -1.6% seen in November. 

Lending to non-monetary financial intermediaries (excluding insurance corporations and pension funds) was more negative in December, at -12.2%, than the -9.2% seen in the previous month.

Source: Live Charts

US MBA Purchase Applications Data

MBA Purchase Applications
Released On 1/29/2014 7:00:00 AM For wk1/24, 2014
PriorActual
Composite Index - W/W Change4.7 %-0.2 %
Purchase Index - W/W Change-4.0 %2.0 %
Refinance Index - W/W Change10.0 %-2.0 %
Highlights
The purchase index bounced back a bit in the January 24 week, up 2.0 percent but still down an unadjusted year-on-year 12.0 percent in what reflects weakness for non-cash home sales. The refinance index fell 2.0 percent in the week. A plus for both purchase and refinancing demand is an ongoing dip this month in mortgage rates as the average rate for conforming loans ($417,000 or less) fell 5 basis points in the week to 4.52 percent which is the lowest rate since November.

Source: Bloomberg

Argentina's peso slides on first day of new currency rules

 Argentina set monthly
limits on dollar purchases on Monday, widening the gap between
the official and parallel exchange rates with an erratic
currency policy that has battered the peso and rattled global
financial markets.
    By limiting the purchases of U.S. dollars to a fifth of a
worker's monthly wages, the government revived doubts about its
commitment to a more open currency market under measures
announced on Friday.
    The concerns circling the peso, which posted its biggest
daily drop in a decade last week, added to fears of an
emerging-market selloff hitting currencies from the Turkish lira
to the Polish zloty.  
    Argentina's ostracism from international credit markets
since a 2002 debt default has limited the risks to the global
financial system. However, the plunging peso could hurt trade
with neighbors such as Brazil, whose currency closed at a
five-month low on Monday.
    Argentina's central bank stabilized the official peso by
pumping $100 million of its waning reserves into the interbank
market. But private traders wary of the government restrictions
weakened the peso nearly 4 percent in parallel trading.
    Due to excess demand for dollars, the peso trades on the
parallel black market at a discount of more than 40 percent to
the tightly controlled official exchange rate.
    "This is a relief, but it is not freedom. In practice, it
gives just a little escape," said economist Rodolfo Rossi in
Buenos Aires. "The pressure on the (black-market peso) is going
to continue."
    The local currency weakened on the black market to
12.15 pesos per U.S. dollar, while the official exchange rate
 was unchanged at 8 per dollar in thin trading. Last
week, the official peso slid nearly 20 percent as investors
scrambled to make sense of the new currency regime.
    The rapid depreciation has raised credit risks for Argentine
banks, insurers and companies with foreign debts, analysts from
Moody's Investors Service warned in a research note to
investors.
    "It remains unclear what policies the government plans to
pursue to address the underlying causes of capital flight, curb
inflation and restore investor confidence," the ratings agency
said in a statement. "Hence, Argentina's credit quality will
likely continue to face negative pressure."
    Moody's forecast a further 50 percent devaluation of the
peso by the end of the year, with price pressures from imports
pushing inflation upward to over 30 percent in 2014, from what
is already one of the world's highest inflation rates.
    Argentine officials were quick to dismiss such risks.
    "There is no reason that the exchange rate should distort
consumer prices," said Cabinet Chief Jorge Capitanich in a press
conference detailing the new regulations. "Lots of businesses
just raise their prices out of uncertainty."
    Shopkeepers over the weekend hurriedly replaced price tags
on imported items, from Cuban cigars to Asian televisions.
    The price surge followed the government's decision to lift
two-year-old restrictions on Argentines buying foreign currency,
allowing savers access to coveted U.S. dollars.
    The relaxation of controls came as the central bank's
foreign exchange reserves dipped under $30 billion - a level
suggesting its interventions in support of the anemic peso had
become unsustainable.  
    Allowing average wage-earners to access U.S. dollars should
pressure reserves as well, because the central bank is the
economy's main source of foreign exchange.
    Conditioned by previous financial crises to hold savings in
dollars, Argentines are obsessed with the greenback. The
currency controls regime ending on Monday forced many people to
go to the black market for dollars to protect against the weak
peso and fast-rising consumer prices. 
    Consumer prices rose about 25 percent in 2013, according to
private analyst estimates. Official data, which many economists
dispute, clocks inflation at less than half that rate. A new
government consumer price index, ordered by the International
Monetary Fund, is expected to be unveiled next month. 
    While inflationary, President Cristina Fernandez's policies
were seen by most voters as the key to economic recovery from
the 2002 debacle. She easily won re-election in 2011, promising
deeper market interventions and more stimulus spending
unencumbered by inflation targeting.
    The effect of peso volatility on other countries' markets
should be limited by the fact that Argentina has been unable to
issue international bonds since its 2002 sovereign default.
    Since then, the government's unorthodox policies -
underscored by its 2012 seizure of energy company YPF 
- have kept all but the most risk-hungry investors at bay.
    The peso's recent slide added to risk aversion in global
financial markets, but foreign officials played down concerns.
    "The troubles in Argentina today find a European Union that
is much more solid and a euro that is much more solid and a
better ability to deal with this kind of concern," Italian Prime
Minister Enrico Letta told journalists on Monday.
    Consumer prices remain a big worry on the streets of
Argentina, but the issue has not sparked mass protests lately.
Tensions may rise in the coming weeks as labor unions demand
that pay increase in line with private inflation estimates.
    If Argentina suffers 30 percent inflation this year, as
private analysts expect, it would mark the fastest rate since
the 2002 crisis, when inflation reached 41 percent.
    Fernandez has mentioned neither consumer prices nor the
peso's plight in recent speeches, leaving her cabinet to
announce policy changes. The next presidential election is in
2015, with Fernandez constitutionally barred from a third term.

Source; Reuters

South Africa Follows Emerging Markets in Raising Benchmark Rate

The South Africa Reserve Bank unexpectedly increased its benchmark interest rate, following central banks in emerging markets from Turkey to Brazil that have tightened monetary policy to bolster their currencies.
The Monetary Policy Committee lifted the repurchase rate to 5.5 percent from 5 percent, Governor Gill Marcus told reporters in Pretoria today. It was the first increase since June 2008.
All 25 economists surveyed by Bloomberg last week predicted the rate will stay unchanged as the central bank focuses on supporting an economy that’s been buffeted by slower global demand and mining strikes. Those concerns are being overtaken by a weaker rand that’s fueling inflation and threatening the bank’s 3 percent to 6 percent target. Turkey raised borrowing costs after a late-night emergency meeting, whileIndia unexpectedly increased its key rate yesterday.
“Like these countries, South Africa has lived beyond its means over the past few years and a weaker currency and higher interest rates are necessary for a rebalancing of the economy,” Theuns de Wet, head of global markets research at FirstRand Ltd.’s Rand Merchant Bank unit, said in a note to clients before the rate decision.
Inflation  accelerated in December for the first time in four months to 5.4 percent. The rand has plunged 24 percent against the dollar since the beginning of last year and was trading as low as 11:0543 in Johannesburg today.
Source: Bloomberg

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