Assessing the Preconditions in Establishing an Independent Regulatory and Supervisory Agency in Globalized Financial Markets: The Case of Turkey

Recent financial crises highlight weaknesses in financial markets and the need for regulatory and supervisory bodies (RSB) to improve the stability of financial markets. Currently, international institutions like the IMF and the World Bank place the independent RSB among their principle policy recommendations to developing countries. This paper acknowledges the importance of independent RSB for the proper functioning of financial markets. However, this paper also points out the preconditions to establish independent RSB. Unless certain prerequisites are satisfied, policy recommendations to construct an independent RSB are doomed to fail. The recent Turkish experience is provided as a case study to elucidate this conclusion. This paper first presents the arguments for independent RSB and the policy recommendations in institution building for stronger financial system. Then, the background of Turkish experience for independent RSB is provided. Finally, we analyze the primary reasons for the deficient performance of Turkish RSB over the last five years in an attempt to provide actual lessons for the future institutional reforms

Molecular surveillance of Theileria parasites of livestock in Oman

Background: Theileriosis is one of the most prevalent infectious diseases of livestock in the Arabian Peninsula, and causes high rates of mortality and morbidity in sheep and cattle. However, there is a paucity of information on the distribution of Theileria spp. over the whole region and their impact on different hosts. The present study carried out a country-wide molecular survey for Theileria spp. of livestock in Oman across four governorates. The aim of the survey was to define the prevalence of Theileria spp. in cattle, sheep and goats, highlight risk factors for infection and identify the main tick species involved in parasite transmission. Material and methods: A total of 2020 animals were examined in the survey consisting of sheep [n = 592], goats [n = 981] and cattle [n = 447]. All three species were raised and co-grazed on the same farms. Theileria parasites were detected using PCR-RFLP and RLB of the 18S rRNA gene. Cloning and sequencing of the 18S rRNA was carried out on 11 T. lestoquardi isolates from Ash-Sharqiyah, and Ad-Dhahira governorates, and phylogenetic relationships were inferred using additional sequences of T. lestoquardi, T. annulata and T. ovis available in GenBank. Results: Theileria spp. prevalence was 72.3%, 36.7% and 2.7% among cattle, sheep and goats, respectively. Strong similarity in results was obtained using RLB and PCR-RFLP for detection of Theileria spp. however, RLB detected a higher rate of mixed infection than PCR-RFPL (P < 0.001). Theileria annulata was the only parasite detected in cattle, while sheep and goats carried T. ovis, T. lestoquardi and T. annulata as well as Theileria spp. OT1. Of the four Theileria spp. detected in small ruminants, overall T. ovis was most prevalent (sheep [33.4%], goats [2.0%]), whereas T. lestoquardi was less prevalent (sheep [22.0%], goats [0.5%]). A large proportion of infected sheep (19%) carried mixed infection of T. ovis and T. lestoquardi. However, single T. lestoquardi infections (3.0%) were less prevalent than T. ovis infections (14.5%). Risk of Theileria spp. infection was significantly higher for exotic breeds, relative to native breeds, of cattle (p = 0.00002) and sheep (p = 0.005). Phylogenetic analysis placed T. lestoquardi in Oman in the same clade as other T. lestoquardi strains isolated from the same regional area (Iraq and Iran). The main tick species, identified on the examined animals, Hyalomma anatolicum, was widely distributed and was found in all of the surveyed governorates. Conclusion: Theileria spp. are widespread in Oman with variable prevalence detected in different regions. Two economically important hosts, cattle and sheep are at high risk from virulent T. annulata and T. lestoquardi, respectively. The survey indicates extensive exposure to ticks and transmission of infection that has a significant economic impact. The higher prevalence of T. lestoquardi as mixed rather than single infection requires further investigation

Assessing the Preconditions in Establishing an Independent Regulatory and Supervisory Agency in Globalized Financial Markets: The Case of Turkey

Recent financial crises highlight weaknesses in financial markets and the need for regulatory and supervisory bodies (RSB) to improve the stability of financial markets. Currently, international institutions like the IMF and the World Bank place the independent RSB among their principle policy recommendations to developing countries. This paper acknowledges the importance of independent RSB for the proper functioning of financial markets. However, this paper also points out the preconditions to establish independent RSB. Unless certain prerequisites are satisfied, policy recommendations to construct an independent RSB are doomed to fail. The recent Turkish experience is provided as a case study to elucidate this conclusion. This paper first presents the arguments for independent RSB and the policy recommendations in institution building for stronger financial system. Then, the background of Turkish experience for independent RSB is provided. Finally, we analyze the primary reasons for the deficient performance of Turkish RSB over the last five years in an attempt to provide actual lessons for the future institutional reforms

Human c-MYBPC3 RNA Targeted Therapy, Reversal of Hypertrophic Cardiomyopathy in the Zebrafish Model

Hypertrophic cardiomyopathy (HCM) is a serious heart disease and is defined as abnormal left ventricular (LV) wall thickening with diastolic dysfunction. HCM is an autosomal dominant monogenic disease caused by a mutation in 1 of 13 or more genes encoding protein components of sarcomere (i.e. sarcomere is the subunit for muscle tissue). The myosin binding protein C (MYBPC) encoded by mybpc3 gene, a key constituent of the thick filaments of the sarcomere (Dhandapany et al., 2009). By binding to myosin, titin, and actin, MYBPC contributes to maintaining the structural integrity of the sarcomere and regulates cardiac contractility and relaxation (Harris et al., 2002). Mutations of c-MYBPC3 gene have been demonstrated to be associated with a risk of cardiac hypertrophy and represent one of the common causes of HCM with about more than 20% frequency (Houston & Stevens, 2015). Zebrafish is a widely used animal model for the cardiac genotype – phenotype association since it allows easy genetic manipulation. We have previously identified four disease causing missense mutations of MYBPC3 domain C1 in cardiac patients: Mutation1 (Arg177His), Mutation 2 (Ala216Thr), Mutation 3 (Glu258Lys) and Mutation 4 (Ser217Gly). Previously, it was shown that mybpc3 gene mutations induced a zebrafish embryonic phenotype resembling HCM(Chen et al., 2013). We have recapitulated these mutations in the zebrafish model (Da'as et al., 2014). The efficacy of human RNA injection to zebrafish embryos for rescuing the induced hypertrophic defects was recently suggested as a novel rescue strategy for HCM (Behrens-Gawlik, Mearini, Gedicke-Hornung, Richard, & Carrier, 2014). Previously, we showed that, zebrafish specific cardiac phenotypes resembling the different human mybpc3 mutations were partially reverted upon co-injection of Human c-MYBPC3 mRNA (Da'as et al, 2015). In the current study, we induced hypertrophic condition to zebrafish embryos with morpholino injections to target exon 5 (Mutation 1, 2 and 4) and exon 6 (Mutation 3). We have also analyzed the recovery of these conditions with RNA co-injection

Probabilistic seismic hazard maps for the sultanate of Oman

This study presents the results of the first probabilistic seismic hazard assessment (PSHA) in the framework of logic tree for Oman. The earthquake catalogue was homogenized, declustered, and used to define seismotectonic source model that characterizes the seismicity of Oman. Two seismic source models were used in the current study; the first consists of 26 seismic source zones, while the second is expressing the alternative view that seismicity is uniform along the entire Makran and Zagros zones. The recurrence parameters for all the seismogenic zones were determined using the doubly bounded exponential distribution except the zones of Makran, which were modelled using the characteristic distribution. Maximum earthquakes were determined and the horizontal ground accelerations in terms of geometric mean were calculated using ground-motion prediction relationships developed based upon seismic data obtained from active tectonic environments similar to those surrounding Oman. The alternative seismotectonic source models, maximum magnitude, and ground-motion prediction relationships were weighted and used to account for the epistemic uncertainty. Hazard maps at rock sites were produced for 5 % damped spectral acceleration (SA) values at 0.1, 0.2, 0.3, 1.0 and 2.0 s spectral periods as well as peak ground acceleration (PGA) for return periods of 475 and 2,475 years. The highest hazard is found in Khasab City with maximum SA at 0.2 s spectral period reaching 243 and 397 cm/s[superscript 2] for return periods 475 and 2,475 years, respectively. The sensitivity analysis reveals that the choice of seismic source model and the ground-motion prediction equation influences the results most.Oman Ministerial Cabinet (project number 22409017

Passive Seismic Tomography Using Induced Seismicity at a Petroleum Field in Oman

A borehole network consisting of 5 monitoring wells was used to monitor the induced seismicity at a producing petroleum field for a period of about 11 months. Nearly 5400 microseismic events were analyzed and utilized in imaging the reservoir based on a new doubledifference (DD) seismic tomography. The DD tomography method simultaneously solves for event locations and Vp, Vs, and Vp/Vs models using absolute and differential P, S and S-P arrival times. Microseismicity in the field was primarily caused by compaction of the reservoir in and above the gas bearing formation and was distributed along the two major northeastsouthwest (NE-SW) faults in the field. The model resolution analysis based on the checkerboard test and the resolution matrix showed that the central part of the model was relatively well resolved for the depth range of 0.7 to 1.1 km. Clear velocity contrasts were imaged across most parts of the two NE-SW faults. Vp/Vs ratio estimations from the tomographic inversion were low (<1.75) in the shallow depth range, likely due to lithology and gas content, whereas they were large (>1.75) in the deeper part of the model, likely due to fluid saturated formation. In this study seismic tomography showed a great potential for reservoir imaging and property estimation using induced seismicity.Petroleum Development Oma

A novel in ovo model to study cancer metastasis using chicken embryos and GFP expressing cancer cells.

Cancer metastasis is the leading cause of cancer-related mortality worldwide. To date, several in vitro methodologies have been developed to understand the mechanisms of cancer metastasis and to screen various therapeutic agents against it. Nevertheless, mimicking an in vivo microenvironment in vitro is not possible; while in vivo experiments are complex, expensive and bound with several regulatory requirements. Herein, we report a novel in ovo model that relies on chicken embryo to investigate cancer cell invasion and metastasis to various organs of the body. In this model, we directly inject green fluorescent protein (GFP) expressing cancer cells to the heart of chicken embryo at 3 days of incubation, then monitor cell migration to various organs. To this end, we used a simple tissue processing technique to achieve rapid imaging and quantification of invasive cells. We were able to clearly observe the migration of GFP expressing cancer cells into various organs of chicken embryo. Organ specific variation in cell migration was also observed. Our new slide pressing based tissue processing technique improved the detectability of migrated cells. We herein demonstrate that the use of GFP expressing cancer cells allows easy detection and quantification of migrated cancer cells in the chicken embryo model, which minimizes the time and effort required in this types of studies compared to conventional histopathological analysis. In conclusion, our investigation provides a new cancer metastasis model that can be further improved to include more complex aspects, such as the use of multiple cell lines and anti-metastatic agents, thus opening new horizons in cancer biology and pharmaceutical research

Effective Processing of Specularite Ore by Wet Magnetic Separation and Reverse Flotation Techniques

The aim of this study was to obtain a high grade and yield percentage of iron concentrate from a specularite ore by using wet magnetic separation and reverse flotation techniques. The processing a specularite sample using wet magnetic separation and reverse flotation method was studied. During the magnetic separation process, particle size was -2000 µm and magnetic field applied at 0.25 T and 0.85 T which were performed at a solid-liquid ratio of 10% and 20% by weight, respectively. In the reverse flotation tests, experimental design DOE was applied, statistically. Depressant dosage, collector dosage and flotation time were selected as main parameters. PH value, frother dosage MIBC and particle size were constant parameters. The results showed that particle size and magnetic field intensity had a significant effect on the iron concentrate grade and yield for wet magnetic separation. The optimum value of iron concentrate grade was 98.75% at 0.25 T and particle size of -150 µm while the highest value of iron concentrate yield was 67% at 0.75 T and particle size of -74 µm. In the flotation tests, depressant dosage had the greatest influence on the iron concentrate grade while the effect of the collector dosage and froth collection time were less. Froth collection time had the greatest effect on iron concentrate yield.The maximum iron concentrate grade was 90.13% for the following conditions: 5250 g/ton depressant, 1000 g/ton collector and 2-minute froth collection time. The maximum iron concentrate yield was 98.96% for the following conditions: 5250 g/ton depressant, 1500 g/ton collector and 1 min froth collection time under fixed conditions

A Novel Deep Learning Technique for Morphology Preserved Fetal ECG Extraction from Mother ECG using 1D-CycleGAN

Monitoring the electrical pulse of fetal heart through a non-invasive fetal electrocardiogram (fECG) can easily detect abnormalities in the developing heart to significantly reduce the infant mortality rate and post-natal complications. Due to the overlapping of maternal and fetal R-peaks, the low amplitude of the fECG, systematic and ambient noises, typical signal extraction methods, such as adaptive filters, independent component analysis, empirical mode decomposition, etc., are unable to produce satisfactory fECG. While some techniques can produce accurate QRS waves, they often ignore other important aspects of the ECG. Our approach, which is based on 1D CycleGAN, can reconstruct the fECG signal from the mECG signal while maintaining the morphology due to extensive preprocessing and appropriate framework. The performance of our solution was evaluated by combining two available datasets from Physionet, "Abdominal and Direct Fetal ECG Database" and "Fetal electrocardiograms, direct and abdominal with reference heartbeat annotations", where it achieved an average PCC and Spectral-Correlation score of 88.4% and 89.4%, respectively. It detects the fQRS of the signal with accuracy, precision, recall and F1 score of 92.6%, 97.6%, 94.8% and 96.4%, respectively. It can also accurately produce the estimation of fetal heart rate and R-R interval with an error of 0.25% and 0.27%, respectively. The main contribution of our work is that, unlike similar studies, it can retain the morphology of the ECG signal with high fidelity. The accuracy of our solution for fetal heart rate and R-R interval length is comparable to existing state-of-the-art techniques. This makes it a highly effective tool for early diagnosis of fetal heart diseases and regular health checkups of the fetus.Comment: 24 pages, 11 figure

Do changes in ace-2 expression affect sars-cov-2 virulence and related complications: A closer look into membrane-bound and soluble forms

The SARS-CoV-2 virus utilizes angiotensin converting enzyme (ACE-2) for cell entry and infection. This enzyme has important functions in the renin-angiotensin aldosterone system to preserve cardiovascular function. In addition to the heart, it is expressed in many tissues including the lung, intestines, brain, and kidney, however, its functions in these organs are mostly unknown. ACE-2 has membrane-bound and soluble forms. Its expression levels are altered in disease states and by a variety of medications. Currently, it is not clear how altered ACE-2 levels influence ACE-2 virulence and relevant complications. In addition, membrane-bound and soluble forms are thought to have different effects. Most work on this topic in the literature is on the SARS-CoV virus that has a high genetic resemblance to SARS-Co-V-2 and also uses ACE-2 enzyme to enter the cell, but with much lower affinity. More recent studies on SARS-CoV-2 are mainly clinical studies aiming at relating the effect of medications that are thought to influence ACE-2 levels, with COVID-19 outcomes for patients under these medications. This review paper aims to summarize what is known about the relationship between ACE-2 levels and SARS-CoV/SARS-CoV-2 virulence under altered ACE-2 expression states.The publication of this article was covered with a generous support from BARZAN HOLDING