Malta`s industrial policy as a vehicle towards securing enhanced competitiveness

The nexus that exists between industrial policy and competitiveness appears questionable. Authors including Professor Michael Porter reject industrial policy as a means to achieve competitiveness, arguing that this policy distorts competition in favour of a particular location, as opposed to his diamond theory, the latter seeking to remove constraints to productivity growth. This paper argues that despite Malta’s size, resource limitations and insularity, enhanced competitiveness resulting from a pro-active industrial policy is possible, provided that the definition and scope of industrial policy is aligned as much as possible to the Porterian diamond concept. This is particularly so if one wishes to see the local economy transformed from its largely current factor-driven state, to a mainly investment-driven stage. Malta’s current industrial policy is assessed through Porterian lenses, and it is submitted that the feasibility of business clustering has yet to be comprehensively evaluated. This together with recent initiatives to seriously tackle the competitiveness issue—several of which are praiseworthy—leave a number of unanswered questions, particularly regarding the extent to which the local authorities accept the “diamond” underlying national competitive advantage, as well as the manner in which co-ordination of all aspects of industrial policy should be achieved.peer-reviewe

And then there were four: a study of UK market concentration - causes, consequences and the scope for market adjustment

While concentration measures are a good indicator of market structure, the link with competitiveness is more complex than often assumed. In particular, the modern theory of industrial organisation makes no clear statement regarding the impact of concentration on competition - the focus of this paper is concentration and no inferences are made about competitive aspects of the market. The extent and nature of concentration within the UK listed company audit market as at April, 2002 and, pro forma, after the collapse of Andersen is documented and analysed in detail (by firm, market segment and industry sector). The largest four firms held 90 per cent of the market (based on audit fees) in 2002, rising to 96 per cent with the demise of Andersen. A single firm, Pricewaterhouse-Coopers, held 70 per cent or more of the share of six out of 38 industry sectors, with a share of 50 per cent up to 70 per cent in a further seven sectors. The provision of non-audit services (NAS) by incumbent auditors is also considered. As at April 2002, the average ratio of non-audit fees (paid to auditor) to audit fees was 208 per cent, and exceeded 300 per cent in seven sectors. It is likely, however, that disposals by firms of their management consultancy and outsource firms, combined with the impact of the Smith Report on audit committees will serve to reduce these ratios. Another finding is that audit firms with expertise in a particular sector appeared to earn significantly higher nonaudit fees from their audit clients in that sector. The paper thus provides a solid empirical basis for debate. The subsequent discussion considers the implications for companies and audit firms of the high level of concentration in the current regulatory climate, where no direct regulatory intervention is planned

British Society of Gastroenterology guidance for management of inflammatory bowel disease during the COVID-19 pandemic.

The COVID-19 pandemic is putting unprecedented pressures on healthcare systems globally. Early insights have been made possible by rapid sharing of data from China and Italy. In the UK, we have rapidly mobilised inflammatory bowel disease (IBD) centres in order that preparations can be made to protect our patients and the clinical services they rely on. This is a novel coronavirus; much is unknown as to how it will affect people with IBD. We also lack information about the impact of different immunosuppressive medications. To address this uncertainty, the British Society of Gastroenterology (BSG) COVID-19 IBD Working Group has used the best available data and expert opinion to generate a risk grid that groups patients into highest, moderate and lowest risk categories. This grid allows patients to be instructed to follow the UK government's advice for shielding, stringent and standard advice regarding social distancing, respectively. Further considerations are given to service provision, medical and surgical therapy, endoscopy, imaging and clinical trials

1963

Trees for a Beautiful Golf Course by Philip Scott (page 1) The Golf Course\u27s Worst Enemy by Charles Amorim and Hal Haskell (2) Message from the President by James f. Gilligan (2) Turf Management Club News (3) Quotes from 1962 Freshman (4) When I consider How my Night is Spent Leonard Mailloux(5) Protection of a Golf Course by Pay Lucas Jr. (6) Safety - The Superintendents\u27 Responsibility by Gerald Peters (7) Picture - Senior Stockbridge Turf Majors (8) Picture - Freshmen Stockbridge Turf Majors (9) Kansas - In the Transition Zone by Carl Beer (10 Seeds by Don Daigle (11) Picture - Dean F. P. Jeffrey, Dr. W.G. Colby and Director J. R. Beattie (12) Picture - Graduates of Winter School for Turf Managers - 1963 (13) The Effect of Last Year\u27s Weather Upon This Year\u27s Incidence of Turf Insects by John C. Schread (A-1) Labor-Management Relations by Mortimer H. Gavin S.J. (A-4) Massachusetts Labor Laws by Andrew C. SInclair (A-7) Golf Course Budget by John Espey (A-10) Golf Course Budgets by Robert St. Thomas (A-12) Purpose & Method of Budgeting by Leon St. Pierre (A-13) The Committee Chairman, His Duties by Charles Connelly (A-16) Long-range vs. Short-range Planning by George Farber (A-18) The Golf Course Superintendent, His Duties by Sherwood Moore (A-20) The Budget by Leo Kowalski (A-25) Public Relations by Leon St. Pierre (A-26) A Study of WIlt by Harry Meusal (A-28) Specifications for a Method of Putting Green Construction by Alexander Radko (A-33) Management of Kentucky Bluegrass & Grass Mixtures for Turf by F.V. Juska (A-38) What\u27s New in Fertilizers by Geoffrey S. Cornish (A-40) Methylene Ureas by Harvey Stangel (A-42) Plastic Coated Fertilizers by Louis I. Hansen (A-44) The Role of Sewage Sludge by James Latham Jr. (A-49) The Role of Ureaforms in the Turf Fertilizer Industry by Robert T. Miller (A-51) Why Low Phosphorus & Higher Potassium by L. J. Sullivan (A-55) Uptake of Potassium by Evangel Bredakis (A-59) Responsibility of Industry & Community in Land Usage & Plantings by Joseph L. Beasley (A-61) Turf & Other Planting Problems by H. Thurston Handley Jr. (A-65) Weeds & Diseases by Dominic Marini (A-67) General Maintenacne & Equipment by Lewis Hodgkinson (A-68) Fertilizer Problems by William J. Bennett (A-70) Lawn Construction & Insect Problems by herbert C. Fordham (A-71

Oral Abstracts 7: RA ClinicalO37. Long-Term Outcomes of Early RA Patients Initiated with Adalimumab Plus Methotrexate Compared with Methotrexate Alone Following a Targeted Treatment Approach

Background: This analysis assessed, on a group level, whether there is a long-term advantage for early RA patients treated with adalimumab (ADA) + MTX vs those initially treated with placebo (PBO) + MTX who either responded to therapy or added ADA following inadequate response (IR). Methods: OPTIMA was a 78- week, randomized, controlled trial of ADA + MTX vs PBO + MTX in MTX-naïve early (<1 year) RA patients. Therapy was adjusted at week 26: ADA + MTX-responders (R) who achieved DAS28 (CRP) <3.2 at weeks 22 and 26 (Period 1, P1) were re-randomized to withdraw or continue ADA and PBO + MTX-R continued randomized therapy for 52 weeks (P2); IR-patients received open-label (OL) ADA + MTX during P2. This post hoc analysis evaluated the proportion of patients at week 78 with DAS28 (CRP) <3.2, HAQ-DI <0.5, and/or ΔmTSS ≤0.5 by initial treatment. To account for patients who withdrew ADA during P2, an equivalent proportion of R was imputed from ADA + MTX-R patients. Results: At week 26, significantly more patients had low disease activity, normal function, and/or no radiographic progression with ADA + MTX vs PBO + MTX (Table 1). Differences in clinical and functional outcomes disappeared following additional treatment, when PBO + MTX-IR (n = 348/460) switched to OL ADA + MTX. Addition of OL ADA slowed radiographic progression, but more patients who received ADA + MTX from baseline had no radiographic progression at week 78 than patients who received initial PBO + MTX. Conclusions: Early RA patients treated with PBO + MTX achieved comparable long-term clinical and functional outcomes on a group level as those who began ADA + MTX, but only when therapy was optimized by the addition of ADA in PBO + MTX-IR. Still, ADA + MTX therapy conferred a radiographic benefit although the difference did not appear to translate to an additional functional benefit. Disclosures: P.E., AbbVie, Merck, Pfizer, UCB, Roche, BMS—Provided Expert Advice, Undertaken Trials, AbbVie—AbbVie sponsored the study, contributed to its design, and participated in the collection, analysis, and interpretation of the data, and in the writing, reviewing, and approval of the final version. R.F., AbbVie, Pfizer, Merck, Roche, UCB, Celgene, Amgen, AstraZeneca, BMS, Janssen, Lilly, Novartis—Research Grants, Consultation Fees. S.F., AbbVie—Employee, Stocks. A.K., AbbVie, Amgen, AstraZeneca, BMS, Celgene, Centocor-Janssen, Pfizer, Roche, UCB—Research Grants, Consultation Fees. H.K., AbbVie—Employee, Stocks. S.R., AbbVie—Employee, Stocks. J.S., AbbVie, Amgen, AstraZeneca, BMS, Celgene, Centocor-Janssen, GlaxoSmithKline, Lilly, Pfizer (Wyeth), MSD (Schering-Plough), Novo-Nordisk, Roche, Sandoz, UCB—Research Grants, Consultation Fees. R.V., AbbVie, BMS, GlaxoSmithKline, Human Genome Sciences, Merck, Pfizer, Roche, UCB Pharma—Consultation Fees, Research Support. Table 1.Week 78 clinical, functional, and radiographic outcomes in patients who received continued ADA + MTX vs those who continued PBO + MTX or added open-label ADA following an inadequate response ADA + MTX, n/N (%)a PBO + MTX, n/N (%)b Outcome Week 26 Week 52 Week 78 Week 26 Week 52 Week 78 DAS28 (CRP) <3.2 246/466 (53) 304/465 (65) 303/465 (65) 139/460 (30)*** 284/460 (62) 300/460 (65) HAQ-DI <0.5 211/466 (45) 220/466 (47) 224/466 (48) 150/460 (33)*** 203/460 (44) 208/460 (45) ΔmTSS ≤0.5 402/462 (87) 379/445 (86) 382/443 (86) 330/459 (72)*** 318/440 (72)*** 318/440 (72)*** DAS28 (CRP) <3.2 + ΔmTSS ≤0.5 216/462 (47) 260/443 (59) 266/443 (60) 112/459 (24)*** 196/440 (45) 211/440 (48)*** DAS28 (CRP) <3.2 + HAQ-DI <0.5 + ΔmTSS ≤0.5 146/462 (32) 168/443 (38) 174/443 (39) 82/459 (18)*** 120/440 (27)*** 135/440 (31)** aIncludes patients from the ADA Continuation (n = 105) and OL ADA Carry On (n = 259) arms, as well as the proportional equivalent number of responders from the ADA Withdrawal arm (n = 102). bIncludes patients from the MTX Continuation (n = 112) and Rescue ADA (n = 348) arms. Last observation carried forward: DAS28 (CRP) and HAQ-DI; Multiple imputations: ΔmTSS. ***P < 0.001 and **iP < 0.01, respectively, for differences between initial treatments from chi-squar

Prognostic model to predict postoperative acute kidney injury in patients undergoing major gastrointestinal surgery based on a national prospective observational cohort study.

Background: Acute illness, existing co-morbidities and surgical stress response can all contribute to postoperative acute kidney injury (AKI) in patients undergoing major gastrointestinal surgery. The aim of this study was prospectively to develop a pragmatic prognostic model to stratify patients according to risk of developing AKI after major gastrointestinal surgery. Methods: This prospective multicentre cohort study included consecutive adults undergoing elective or emergency gastrointestinal resection, liver resection or stoma reversal in 2-week blocks over a continuous 3-month period. The primary outcome was the rate of AKI within 7 days of surgery. Bootstrap stability was used to select clinically plausible risk factors into the model. Internal model validation was carried out by bootstrap validation. Results: A total of 4544 patients were included across 173 centres in the UK and Ireland. The overall rate of AKI was 14·2 per cent (646 of 4544) and the 30-day mortality rate was 1·8 per cent (84 of 4544). Stage 1 AKI was significantly associated with 30-day mortality (unadjusted odds ratio 7·61, 95 per cent c.i. 4·49 to 12·90; P < 0·001), with increasing odds of death with each AKI stage. Six variables were selected for inclusion in the prognostic model: age, sex, ASA grade, preoperative estimated glomerular filtration rate, planned open surgery and preoperative use of either an angiotensin-converting enzyme inhibitor or an angiotensin receptor blocker. Internal validation demonstrated good model discrimination (c-statistic 0·65). Discussion: Following major gastrointestinal surgery, AKI occurred in one in seven patients. This preoperative prognostic model identified patients at high risk of postoperative AKI. Validation in an independent data set is required to ensure generalizability

Study of ordered hadron chains with the ATLAS detector

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