Tax Treatment of Common Investment Vehicles in State Aid Context

Common investment vehicle (CIVs) is a widely used structure, yet relevantly little dealt topic in the case law. In a nutshell, a CIV is a legal structure used for investing. It usually consists of three separate levels, which are investors, an intermediary vehicle and an investment object. The idea is to pool the assets of private investors and invest those pooled assets to the investment object which varies. The structure creates benefits, for example it enables investing big amounts of money and thus creates new investment objectives to the private investors. Due to the intermediary level, the structure may create double taxation, which would not occur in case of direct investment. Thus, special tax measures are often needed for the elimination of multiple taxation. The European Union’s State aid regulation (among others) determines what kind of CIV tax measures can be enacted. Even though the direct taxation of Member States is not harmonized, the prohibition of State aid, imposed in the Article 107(1) of the Treaty on the Functioning of the European Union, limits internal legislative power. The State aid prohibition in the Article 107(1) TFEU consist of four separate and cumulative conditions, the most important being a selectivity condition. It is also in the CIV context, when the selectivity condition analysis usually determines the outcome. The Court has concluded that the selectivity of a tax measure can be justified, for example on the basis of tax neutrality. Yet, it is not utterly clear, whether the purpose of achieving tax neutrality is unconditional and suffices itself. Furthermore, the Article 107(3) TFEU may justify the investments made to risk finance investments, which consequently may justify the measure applied for the investment structure. The common investment structure is a very little dealt topic in the State aid case law of the European Union. But why so? Due to the wide use of the CIV structure it is simply impossible that any CIV measures would not have been enacted. The answer seem to lie in the relation between the State aid and fundamental freedoms regulations. Unfortunately, the relation of these two set of rules is anything but complete. Nonetheless, it seems that the fundamental freedoms often overrule the State aid regulation. However, both regulation aim to ensure free competition on the single market and thus, at least generally speaking, the desired purpose is achieved no matter which one of the rulings applied

Täysproteiinipohjaisten osien ja proteiinipäällysteisten nanopartikkelien pintaplasmoniresonanssitutkimukset Caco-2-suolistosolumallilla

Nowadays, targetability studies usually require sample modifications and quite often, examination requires the use of directed light in harmful wavelengths. The surface plasmon resonance (SPR) technique does not need either of those actions. With SPR technology, the targetability of biomolecules can be studied in real-time and without any additional labels. The SPR response is received by measuring the change in surface plasmon resonance conditions due to refractive index changes caused by material interactions in the vicinity of a metal sensor surface. In the present study, the targetability of neonatal Fc receptor (FcRn) was studied by SPR. FcRn-mediated targetability studies were performed against protein A and human colorectal adenocarcinoma (Caco-2) immobilized on SPR sensors. The aim of the study was to confirm the FcRn targetability with bare Fc-fragment and Fc-fragment modified nanoparticles (NPs) designed for oral drug delivery. The NPs consisted of a core porous silicon (PSi) particle, entrapped into a lignin capsule, and finally functionalized with the FcRn-targeting ligand. Results confirmed the binding efficacy of bare Fc-fragment with protein A at pH 6.5, which was the critical pH value for preserving the lignin capsule around the PSi NPs. The cell-based SPR response was significantly higher for FcRn-targeted NPs when compared with non-functionalized NPs. According to these results, FcRn-mediated transcytosis emerges with great potential for oral drug delivery via Fc-functionalized NPs.Nykyajan kohdentamistutkimukset vaativat yleensä näytteen muokkaamista ja melko usein koeasetelma edellyttää suoran valon käyttöä haitallisilla aallonpituuksilla. Pintaplasmoniresonanssi (surface plasmon resonance, SPR) -tekniikka ei edellytä kumpaakaan näistä toimista. SPR-tekniikalla biomolekyylien kohdennettavuutta voidaan tutkia reaaliaikaisesti sekä ilman leima-aineita. SPR:n vaste saadaan mittaamalla sensoripinnan läheisyydessä tapahtuvien materiaalien vuorovaikutusten ja täten taitekertoimen muutoksen aiheuttamaa pintaplasmonien resonanssiolosuhteiden muutosta. Tässä tutkimuksessa tutkittiin neonataalisen Fc-reseptorin (FcRn) kohdennettavuutta hyödyntäen SPR-tekniikkaa. FcRn-välitteisiä kohdentamistutkimuksia tehtiin SPR-sensoreille istutetuilla proteiini A -biomolekyyleillä ja ihmisen suolistosta peräisin olevilla adenokarsinooma (Caco-2) soluilla. Tutkimuksen tavoitteena oli varmistaa FcRn:n kohdennettavuus vapaan Fc-fragmentin ja Fc-fragmentilla muokattujen nanopartikkelien (NP) avulla, jotka oli suunniteltu suun kautta annosteltaviksi. NP:t koostuivat pohjimmiltaan huokoisista piihiukkasista (porous silicon, PSi), jotka ympäröitiin ligniinikapselilla ja lopulta funktionalisoitiin FcRn:iin kohdistuvalla ligandilla. Tulokset vahvistivat vapaan Fc-fragmenttien sitoutumistehokkuuden proteiinin A:n kanssa pH 6,5:ssä, joka oli kriittinen pH-arvo ligniinikapselin säilyttämiseksi PSi NP:n ympärillä. SPR-vaste oli huomattavasti suurempi FcRn-kohdennetuilla nanopartikkeleilla verrattuna ei-funktionalisoituihin nanopartikkeleihin. Näiden tulosten pohjalta kävi ilmi, että FcRn-välitteinen transsytoosi osoittaa merkittävän mahdollisuuden lääkkeiden annosteluun suun kautta Fc-funktionalisoitujen nanopartikkeleiden välityksellä

Pilot tislauskolonnin käyttöönotto

Tämän opinnäytetyön tavoitteena on päivittää Metropolian Leiritiellä prosessilaboratoriossa olevan panostislauslaitteiston automaation toiminnankuvaukset. Tämän on tarkoitus tukea automaatiotekniikan opiskelijoiden prosessiautomaation päivitysprojektia. Lähestymistavaksi valikoitui pohtia jokaisen prosessilaitteen ja -mittauksen roolia itsenäisenä. Näin pyrittiin määrittämään jokaiselle laitteelle toiminta-alue. Tämän jälkeen toiminnankuvaukset kytkettiin toisiinsa PI-kuvan avulla.The purpose of this thesis was to update the description of the automation of the batch irrigation equipment at the Metropolia Leiritie Process Laboratory. This is supposed to support the automation technology students’ process automation upgrade project. The approach was chosen to consider the role of each process device and measurement as an independent one. This was done to determine the operating range for each device. Subsequently, the operation descriptions were interconnected by a PI drawing

Matematiikkaa ja filosofiaa yhdistävän kerhon suunnittelu

Matematiikkaa ja filosofiaa pidetään usein varsin erilaisina oppiaineina. Näillä kahdella oppiaineella on kuitenkin paljon yhteistä, ja tämän opinnäytetyön keskeisimpänä tavoitteena on tuoda esille näitä yhteneväisyyksiä. Työssä suunnitellaan kerhomateriaali matematiikkaa ja filosofiaa yhdistävälle, lukioikäisille suunnitellulle kerholle. Itse kerhoa ei tämän työn puitteissa toteutettu. Työn ensimmäisen luvun johdannon jälkeen toisessa luvussa käydään läpi matematiikkaa ja filosofiaa yhdistäviä teemoja. Näitä yhteisiä teemoja ovat näiden oppiaineiden yhteinen historia, keskinäinen vuorovaikutus ja yhteiset aihealueet. Matematiikalle ja filosofialle selkein, yhteinen aihealue on pätevä päättely. Pätevä päättely otettiin tässä työssä suunnitellun kerhomateriaalin harjoitustehtävien aiheeksi. Kerhomateriaaliin otettiin myös lyhyt katsaus työn ensimmäiseen lukuun kerätyistä matematiikkaa ja filosofiaa yhdistävistä teemoista. Työn kolmannessa luvussa käydään läpi pedagogiikkaa siitä, miten ja miksi matematiikkaa ja filosofiaa voi yhdistää. Käymme lisäksi läpi nykyisen lukion opetussuunnitelman matematiikan ja filosofian yhteisiä tavoitteita ja sisältöjä. Tutkimme myös mitä on olla matematiikassa kompetentti ja miten nämä vaatimukset käyvät yhteen matematiikan ja filosofian yhdistämisen tuomien etujen kanssa. Neljännessa luvussa esitellään työssä suunnitellun varsinaisen kerhomateriaalin rakentuminen ja kerhomateriaaliin otetut harjoitukset. Suunniteltu kerhomateriaali löytyy työn lopusta liitteinä

Implication of New WHO Growth Standards on Identification of Risk Factors and Estimated Prevalence of Malnutrition in Rural Malawian Infants

BACKGROUND: The World Health Organization (WHO) released new Child Growth Standards in 2006 to replace the current National Center for Health Statistics (NCHS) growth reference. We assessed how switching from the NCHS to the newly released WHO Growth Standards affects the estimated prevalence of wasting, underweight and stunting, and the pattern of risk factors identified.METHODOLOGY/PRINCIPAL FINDINGS: Data were drawn from a village-informant driven Demographic Surveillance System in Northern Malawi. Children (n = 1328) were visited twice at 0-4 months and 11-15 months. Data were collected on the demographic and socio-economic environment of the child, health history, maternal and child anthropometry and child feeding practices. Weight-for-length, weight-for-age and length-for-age were derived in z-scores using the two growth references. In early infancy, prevalence estimates were 2.9, 6.1, and 8.5 fold higher for stunting, underweight, and wasting respectively using the WHO standards compared to NCHS reference (p<0.001 for all). At one year, prevalence estimates for wasting and stunting did not differ significantly according to reference used, but the prevalence of underweight was half that with the NCHS reference (p<0.001). Patterns of risk factors were similar with the two growth references for all outcomes at one year although the strength of association was higher with WHO standards.CONCLUSIONS/SIGNIFICANCE: Differences in prevalence estimates differed in magnitude but not direction from previous studies. The scale of these differences depends on the population's nutritional status thus it should not be assumed a priori. The increase in estimated prevalence of wasting in early infancy has implications for feeding programs targeting lactating mothers and ante-natal multiple micronutrients supplementation to tackle small birth size. Risk factors identified using WHO standards remain comparable with findings based on the NCHS reference in similar settings. Further research should aim to identify whether the young infants additionally diagnosed as malnourished by this new standard are more appropriate targets for interventions than those identified with the NCHS reference

Boys are more stunted than girls in Sub-Saharan Africa: a meta-analysis of 16 demographic and health surveys

BACKGROUND: Many studies in sub-Saharan Africa have occasionally reported a higher prevalence of stunting in male children compared to female children. This study examined whether there are systematic sex differences in stunting rates in children under-five years of age, and how the sex differences in stunting rates vary with household socio-economic status. METHODS: Data from the most recent 16 demographic and health surveys (DHS) in 10 sub-Saharan countries were analysed. Two separate variables for household socio-economic status (SES) were created for each country based on asset ownership and mothers' education. Quintiles of SES were constructed using principal component analysis. Sex differentials with stunting were assessed using Student's t-test, chi square test and binary logistic regressions. RESULTS: The prevalence and the mean z-scores of stunting were consistently lower amongst females than amongst males in all studies, with differences statistically significant in 11 and 12, respectively, out of the 16 studies. The pooled estimates for mean z-scores were -1.59 for boys and -1.46 for girls with the difference statistically significant (p < 0.001). The stunting prevalence was also higher in boys (40%) than in girls (36%) in pooled data analysis; crude odds ratio 1.16 (95% CI 1.12–1.20); child age and individual survey adjusted odds ratio 1.18 (95% CI 1.14–1.22). Male children in households of the poorest 40% were more likely to be stunted compared to females in the same group, but the pattern was not consistent in all studies, and evaluation of the SES/sex interaction term in relation to stunting was not significant for the surveys. CONCLUSION: In sub-Saharan Africa, male children under five years of age are more likely to become stunted than females, which might suggest that boys are more vulnerable to health inequalities than their female counterparts in the same age groups. In several of the surveys, sex differences in stunting were more pronounced in the lowest SES groups

Increased Incidence and Clinical Picture of Childhood Narcolepsy following the 2009 H1N1 Pandemic Vaccination Campaign in Finland

Peer reviewe

Neonatal Fc receptor-targeted lignin-encapsulated porous silicon nanoparticles for enhanced cellular interactions and insulin permeation across the intestinal epithelium

Oral insulin delivery could change the life of millions of diabetic patients as an effective, safe, easy-to-use, and affordable alternative to insulin injections, known by an inherently thwarted patient compliance. Here, we designed a multistage nanoparticle (NP) system capable of circumventing the biological barriers that lead to poor drug absorption and bioavailability after oral administration. The nanosystem consists of an insulin-loaded porous silicon NP encapsulated into a pH-responsive lignin matrix, and surface-functionalized with the Fc fragment of immunoglobulin G, which acts as a targeting ligand for the neonatal Fc receptor (FcRn). The developed NPs presented small size (211 ± 1 nm) and narrow size distribution. The NPs remained intact in stomach and intestinal pH conditions, releasing the drug exclusively at pH 7.4, which mimics blood circulation. This formulation showed to be highly cytocompatible, and surface plasmon resonance studies demonstrated that FcRn-targeted NPs present higher capacity to interact and being internalized by the Caco-2 cells, which express FcRn, as demonstrated by Western blot. Ultimately, in vitro permeability studies showed that Fc-functionalized NPs induced an increase in the amount of insulin that permeated across a Caco-2/HT29-MTX co-culture model, showing apparent permeability coefficients (Papp) of 2.37 × 10−6 cm/s, over the 1.66 × 10−6 cm/s observed for their non-functionalized counterparts. Overall, these results demonstrate the potential of these NPs for oral delivery of anti-diabetic drugs.</p

Mothers' education but not fathers' education, household assets or land ownership is the best predictor of child health inequalities in rural Uganda

BACKGROUND: Health and nutrition inequality is a result of a complex web of factors that include socio-economic inequalities. Various socio-economic indicators exist however some do not accurately predict inequalities in children. Others are not intervention feasible. OBJECTIVE: To examine the association of four socio-economic indicators namely: mothers' education, fathers' education, household asset index, and land ownership with growth stunting, which is used as a proxy for health and nutrition inequalities among infants and young children. METHODS: This was a cross-sectional survey conducted in the rural district of Hoima, Uganda. Two-stage cluster sampling design was used to obtain 720 child/mother pairs. Information on indicators of household socio-economic status and child anthropometry was gathered by administering a structured questionnaire to mothers in their home settings. Regression modelling was used to determine the association of socio-economic indicators with stunting. RESULTS: One hundred seventy two (25%) of the studied children were stunted, of which 105 (61%) were boys (p < 0.001). Bivariate analysis indicated a higher prevalence of stunting among children of: non-educated mothers compared to mothers educated above primary school (odds ratio (OR) 2.5, 95% confidence interval (CI) 1.4–4.4); non-educated fathers compared to fathers educated above secondary school (OR 1.7, 95% CI 0.8–3.5); households belonging in the "poorest" quintile for the asset index compared to the "least poor" quintile (OR 2.1, 95% CI 1.2–3.7); Land ownership exhibited no differentials with stunting. Simultaneously adjusting all socio-economic indicators in conditional regression analysis left mothers' education as the only independent predictor of stunting with children of non-educated mothers significantly more likely to be stunted compared to those of mothers educated above primary school (OR 2.1, 95% CI 1.1–3.9). More boys than girls were significantly stunted in poorer than wealthier socio-economic strata. CONCLUSIONS: Of four socio-economic indicators, mothers' education is the best predictor for health and nutrition inequalities among infants and young children in rural Uganda. This suggests a need for appropriate formal education of the girl child aimed at promoting child health and nutrition. The finding that boys are adversely affected by poverty more than their female counterparts corroborates evidence from previous studies

Numerical and physical assessment of control measures to mitigate fugitive dust emissions from harbor activities

In recent years, the industrial demand for petcoke—a solid residue derived from the refinement of crude oil—has been growing due to its low cost. The use of petcoke is causing environmental concern associated with its high level of contaminants and air pollutant emissions, mainly particulate matter (PM). Given the impact of petcoke on the environment and human health, increased attention has been given to its production, storage, transportation, and application processes. The main goal of this work was to assess the effectiveness of placing a barrier to reduce PM emissions from petcoke in a harbor area. The Port of Aveiro, Portugal, was used as case study. Firstly, wind tunnel experiments were performed for different types of barrier to (i) assess the effect on PM emissions of different types of barriers, namely solid, porous, and raised porous barriers; (ii) determine the optimal size and location of the barrier to achieve maximum reduction of PM emissions; and (iii) estimate the impact of placing such barrier in the attenuation of petcoke emissions over the harbor area. Secondly, the numerical model VADIS (pollutant DISpersion in the atmosphere under VAriable wind conditions) was run to evaluate the effect of implementing the barrier on the local air quality. Results showed that the best solution would be the implementation of two solid barriers: a main barrier of 109 m length plus a second barrier of 30 m length. This measure produced the best results in terms of reduction of the dispersion of particulate matter from the petcoke stockpile and minimization of the PM concentrations in the harbor surrounding area.publishe