Islamic banking, efficiency and societal welfare: a machine-learning, agent-based study

Purpose: This paper models the benefits of Islamic banking on the efficiency of the banking sector and on societal happiness. This paper aims to examine how the adoption of Islamic banking to various degrees affects economics outcomes. Design/methodology/approach: This study uses machine-learning tools to build a happiness function and integrate it in an agent-based model to test for the direct and indirect welfare effects of implementing Islamic banking principles. Findings: This study shows that even though Islamic banking systems tend to reduce economic activity, financial stability and societal happiness is improved. Additionally, a banking sector using Islamic principles across all its members is better equipped to handle banking crises because contagion to both economic activity and societal welfare is greatly reduced. At the same time, adoption of the profit-and-loss sharing (PLS) paradigm by banks may also slow down economic growth. Research limitations/implications: The findings extend existing literature on the advantages of Islamic banking, by quantifying the welfare benefits of the PLS paradigm on happiness and financial stability. Originality/value: To the best of the authors’ knowledge, this paper is the first to combine agent-based modelling with machine learning tools to examine the benefits of the Islamic banking model on financial stability, social welfare and unemployment

Safe-haven properties of soft commodities during times of Covid-19

We use wavelet coherence analysis on global COVID-19 fear index and, soft commodities’ spot and futures prices to investigate safe-haven properties of soft commodities over the period from January 28, 2020 to April 29, 2021. Our findings show that each of the sampled soft commodities shows safe-haven behavior in one of the spot or futures markets and for one of the short-term or long-term investors during the times of COVID-19. Our results also show that safe-haven properties of soft commodities are contingent upon the nature of the commodity. The findings of our mean-variance portfolio analysis indicate that the portfolios with commodity futures are less risky and efficient compared to the portfolio containing stocks only, thus robustly supporting the safe-haven properties of soft commodities during COVID-19. Our results not only have important implications for individual investors and asset managers in suggesting particular soft commodities to strengthen safe-haven and diversification features of their portfolios but also can assist the policy makers to understand and disentangle health fear dimension of several interlocking dynamics affecting the spot and futures prices of soft commodities during COVID-19

Quantitative expression of osteopontin in nasal mucosa of patients with allergic rhinitis: effects of pollen exposure and nasal glucocorticoid treatment

<p>Abstract</p> <p>Background</p> <p>Osteopontin (OPN) is a multifunctional cytokine that has been primarily investigated in Th1 diseases. Recently, it has also been implicated in Th2-mediated allergic diseases, such as asthma. The expression of OPN in allergic rhinitis (AR) is currently unknown, as is the effect of intranasal glucocorticosteroids (GCs) on that expression.</p> <p>Methods</p> <p>Subjects with AR were randomised to receive treatment with fluticasone propionate (FP) (n = 12) or a placebo (n = 16) over the grass pollen season and nasal biopsies were taken prior to, and during the season. OPN expression in the nasal mucosa was examined with immunohistochemistry. Healthy non-AR controls (n = 5) were used as a comparator.</p> <p>Results</p> <p>OPN expression was detected in epithelial cells, subepithelial infiltrating/inflammatory cells and cells lining the vessels and glands of all subjects. Comparison of the pre- and peak-pollen season biopsy sections in placebo treated patients revealed no increase in OPN expression during the grass pollen season (5.7% vs 6.4%). Treatment with a local glucocorticosteroid did not alter the expression of OPN during pollen exposure (6.2% vs 6.7%).</p> <p>Conclusion</p> <p>OPN has been increasingly associated with the pathogenesis of various Th2-mediated diseases. However, our finding that the OPN expression in the nasal mucosa of AR patients is not significantly affected by allergen exposure and is comparable to that of the healthy controls, suggests that intracellular OPN is not directly involved in the pathogenesis of allergic rhinitis.</p

ERS/EAACI Statement on severe exacerbations in asthma in adult: facts, priorities and key research questions

International audienceDespite the use of effective medications to control asthma, severe exacerbations in asthma are still a major health risk and require urgent action on the part of the patient and physician to prevent a serious outcome such as hospitalisation or death. Moreover, severe exacerbations are associated with substantial huge healthcare costs, and psychological burden including anxiety and fear for patients and their families. The European Academy of Allergy and Clinical Immunology (EAACI) and the European Respiratory Society (ERS) set up a Task Force (TF) to search for a clear definition of severe exacerbations and to also define research questions and priorities. The statement includes comments from patients who were members of the TF

Activin-A co-opts IRF4 and AhR signaling to induce human regulatory T cells that restrain asthmatic responses

Type 1 regulatory T (Tr1) cells play a pivotal role in restraining human T-cell responses toward environmental allergens and protecting against allergic diseases. Still, the precise molecular cues that underlie their transcriptional and functional specification remain elusive. Here, we show that the cytokine activin-A instructs the generation of CD4+ T cells that express the Tr1-cell–associated molecules IL-10, inducible T-Cell costimulator (ICOS), lymphocyte activation gene 3 protein (LAG-3), and CD49b, and exert strongly suppressive functions toward allergic responses induced by naive and in vivo-primed human T helper 2 cells. Moreover, mechanistic studies reveal that activin-A signaling induces the activation of the transcription factor interferon regulatory factor (IRF4), which, along with the environmental sensor aryl hydrocarbon receptor, forms a multipartite transcriptional complex that binds in IL-10 and ICOS promoter elements and controls gene expression in human CD4+ T cells. In fact, IRF4 silencing abrogates activin-A– driven IL10 and ICOS up-regulation and impairs the suppressive functions of human activin-A–induced Tr1-like (act-A–iTr1) cells. Importantly, using a humanized mouse model of allergic asthma, we demonstrate that adoptive transfer of human act-A–iTr1 cells, both in preventive and therapeutic protocols, confers significant protection against cardinal asthma manifestations, including pulmonary inflammation. Overall, our findings uncover an activin-A–induced IRF4-aryl hydrocarbon receptor (AhR)–dependent transcriptional network, which generates suppressive human Tr1 cells that may be harnessed for the control of allergic diseases

Cabbage and fermented vegetables : From death rate heterogeneity in countries to candidates for mitigation strategies of severe COVID-19

Large differences in COVID-19 death rates exist between countries and between regions of the same country. Some very low death rate countries such as Eastern Asia, Central Europe, or the Balkans have a common feature of eating large quantities of fermented foods. Although biases exist when examining ecological studies, fermented vegetables or cabbage have been associated with low death rates in European countries. SARS-CoV-2 binds to its receptor, the angiotensin-converting enzyme 2 (ACE2). As a result of SARS-CoV-2 binding, ACE2 downregulation enhances the angiotensin II receptor type 1 (AT(1)R) axis associated with oxidative stress. This leads to insulin resistance as well as lung and endothelial damage, two severe outcomes of COVID-19. The nuclear factor (erythroid-derived 2)-like 2 (Nrf2) is the most potent antioxidant in humans and can block in particular the AT(1)R axis. Cabbage contains precursors of sulforaphane, the most active natural activator of Nrf2. Fermented vegetables contain many lactobacilli, which are also potent Nrf2 activators. Three examples are: kimchi in Korea, westernized foods, and the slum paradox. It is proposed that fermented cabbage is a proof-of-concept of dietary manipulations that may enhance Nrf2-associated antioxidant effects, helpful in mitigating COVID-19 severity.Peer reviewe

Nrf2-interacting nutrients and COVID-19 : time for research to develop adaptation strategies

There are large between- and within-country variations in COVID-19 death rates. Some very low death rate settings such as Eastern Asia, Central Europe, the Balkans and Africa have a common feature of eating large quantities of fermented foods whose intake is associated with the activation of the Nrf2 (Nuclear factor (erythroid-derived 2)-like 2) anti-oxidant transcription factor. There are many Nrf2-interacting nutrients (berberine, curcumin, epigallocatechin gallate, genistein, quercetin, resveratrol, sulforaphane) that all act similarly to reduce insulin resistance, endothelial damage, lung injury and cytokine storm. They also act on the same mechanisms (mTOR: Mammalian target of rapamycin, PPAR gamma:Peroxisome proliferator-activated receptor, NF kappa B: Nuclear factor kappa B, ERK: Extracellular signal-regulated kinases and eIF2 alpha:Elongation initiation factor 2 alpha). They may as a result be important in mitigating the severity of COVID-19, acting through the endoplasmic reticulum stress or ACE-Angiotensin-II-AT(1)R axis (AT(1)R) pathway. Many Nrf2-interacting nutrients are also interacting with TRPA1 and/or TRPV1. Interestingly, geographical areas with very low COVID-19 mortality are those with the lowest prevalence of obesity (Sub-Saharan Africa and Asia). It is tempting to propose that Nrf2-interacting foods and nutrients can re-balance insulin resistance and have a significant effect on COVID-19 severity. It is therefore possible that the intake of these foods may restore an optimal natural balance for the Nrf2 pathway and may be of interest in the mitigation of COVID-19 severity

Expression of the cytokine osteopontin as a marker of inflammation and tissue remodelling in mild / moderate ans severe asthma

Introduction Asthma is a heterogeneous, chronic inflammatory disease of the lower airways characterized by increased airway hyper-responsiveness and reversible narrowing of the airways. A variety of mediators produced by several cells of the immune system as well as structural cells have been implicated in the pathogenesis of asthma, however the underlying mechanisms are not yet known. Osteopontin (Opn) is a cytokine typically associated with autoimmune and infectious responses. Recent studies have implicated Opn in allergic inflammation and airway remodeling in experimental animal models of asthma; however, its effects on human asthma are still unclear. Aim The primary aim of this study was to determine the expression pattern of Opn in the serum, bronchoalveolar lavage fluid (BALF) and bronchial and compare it to that of healthy controls, as well as to investigate whether Opn expression is dependent on asthma severity or the level of control of the disease. The secondary goal of this study was to identify the cellular sources of Opn production in situ in the bronchial tissue of patients with asthma. Finally, markers of airway remodeling were also assessed (reticular basement membrane thickness and goblet cell hyperplasia) in the bronchial tissue of patients with asthma in order to investigate possible correlations with tissue Opn expression. Methods A total of 71 subjects were included in the study, consisting of 54 patients with asthma and 17 controls. The patients group included 35 mild-moderate (MMA) and 19 severe asthma (SA) patients. The control group consisted of 17 non-smoking healthy individuals. Informed and written consent was obtained from all participating subjects and the corresponding protocol was approved by the Hospital Research Ethics Committee as well as the Greek National Organization for Medicines. Asthma severity was assessed according to GINA guidelines and patients were receiving treatment during the study according to their asthma severity. Serum samples were collected from all healthy controls and asthmatic patients in steady state, as well as from all patients that exhibited asthma exacerbations during the study (n=17). To evaluate the effect of steroids on Opn expression, serum samples were also obtained from 11 patients with moderate to severe asthma before and after 2 weeks of treatment with oral steroids. Flexible bronchoscopy was performed on 29 asthmatics (12 patients with mild-moderate and 17 with severe asthma) as well as on 9 healthy controls. Endobronchial biopsies were collected from all subjects that underwent bronchoscopy, while bronchoalveolar lavage fluid (BALF) was also obtained when possible. Opn levels were measured in the serum and BALF by means of Enzyme-linked immunosorbent assay (ELISA), while Opn expression in the bronchial tissue was determined by means of immunohistochemistry. Cells that expressed Opn in the bronchial tissue of asthmatic patients were identified by means of double immunofluorescence for Opn and specific cell markers for airway and vascular smooth muscle cells, myofibroblasts, T and B lymphocytes, mast cells, neutrophils and eosinophils. Double positive cells were visualized with the help of confocal laser microscopy. Reticular basement membrane (RBM) thickness and goblet cell hyperplasia were also determined in the bronchial tissue with the help of image analysis software. Results Serum Opn levels were significantly increased in patients with asthma in steady state, while Opn was significantly decreased in the serum of patients exhibiting exacerbations. BALF Opn levels were also significantly increased in asthmatic patients in steady state. No difference was found in both serum and BALF Opn levels between MMA and SA patients. Opn expression was significantly upregulated in the bronchial tissue of all patient groups compared to healthy controls in both the epithelium and subepithelial inflammatory infiltrating cells. Although no significant difference was found in Opn expression in the bronchial epithelium between MMA and SA patients, there was a trend for increased Opn expression in the SA group. However, SA patients had significantly increased Opn expression by the subepithelial inflammatory cells compared to MMA. Opn was found to be expressed by airway and vascular smooth muscle cells, myofibroblasts, T-lymphocytes and mast cells. RBM thickness was found to be increased in patients with asthma compared to healthy controls, while RBM thickness was more prominent in SA than MMA patients. Furthermore, Opn tissue expression correlated with RBM thickness. Goblet cells were increased in asthmatic patients compared to healthy controls. Although a trend for increased goblet cell numbers as asthma severity progressed, no significant difference was found between subgroups. Moreover, no correlation was found between goblet cell hyperplasia and Opn tissue expression. Conclusions The results of this study demonstrate that Opn expression in asthma is dependent upon asthma severity as well as the control status of the disease. Our data point to an active role for Opn in the development and regulation of airway inflammation and remodeling that is observed in human asthma and possibly open the way for research into future novel therapies that differentially target Opn expression in situ.Εισαγωγή Το άσθμα είναι μια ετερογενής, χρόνια φλεγμονώδης νόσος των κατώτερων αεραγωγών, που χαρακτηρίζεται από αυξημένη βρογχική υπεραντιδραστικότητα και επεισόδια βρογχόσπασμου, αναστρέψιμα είτε αυτόματα είτε με την χρήση κατάλληλης αγωγής. Πληθώρα μεσολαβητών που παράγεται από διάφορα κύτταρα του ανοσοποιητικού συστήματος, αλλά και δομικά κύτταρα, έχουν κατά καιρούς εμπλακεί στην παθογένεια του άσθματος, παρόλα αυτά οι υποκείμενοι μηχανισμοί δεν είναι ακόμα γνωστοί. Η Οστεοποντίνη (Osteopontin ή Opn σε σύντμηση) είναι μια κυτταροκίνη που τυπικά εμπλέκεται στην παθογένεια κυρίως αυτοάνοσων και λοιμωδών νοσημάτων. Αν και πρόσφατες μελέτες έχουν συνδέσει την Opn με την αλλεργική φλεγμονή και ιστική αναδιαμόρφωση σε πειραματικά μοντέλα άσθματος, η ακριβής επίδραση της Opn στο άσθμα σε ανθρώπους παραμένει άγνωστη. Σκοπός της μελέτης Ο κύριος σκοπός της μελέτης αυτής ήταν ο προσδιορισμός της έκφρασης της Opn στον ορό, το βρογχοκυψελιδικό έκπλυμα (bronchoalveolar lavage fluid ή BALF) και το βρογχικό ιστό στο άσθμα και η σύγκρισή του με την αντίστοιχη έκφραση Opn σε υγιείς εθελοντές, καθώς και το να διερευνηθεί αν υπάρχει κάποια συσχέτιση μεταξύ της έκφρασης της Opn και της σοβαρότητας και του ελέγχου της νόσου. Δευτερεύων σκοπός της μελέτης ήταν ο προσδιορισμός της ταυτότητας των κυττάρων που είναι υπεύθυνα για την παραγωγή Opn τοπικά στο βρογχικό ιστό των ασθματικών ασθενών. Εν τέλει, ερευνήθηκαν δείκτες ιστικής αναδιαμόρφωσης (πάχυνση της βασικής μεμβράνης και υπερπλασία καλυκοειδών κυττάρων) με σκοπό τη διερεύνηση πιθανών συσχετίσεων με την έκφραση της Opn στον βρογχικό ιστό των ασθενών με άσθμα. Μέθοδος Στη μελέτη αυτή έλαβαν συνολικά μέρος 71 άτομα, 54 ασθενείς με άσθμα και 17 μάρτυρες. Η ομάδα των ασθενών αποτελείτο από 35 ασθενείς με ήπιο-μέτριο άσθμα (mild-moderate asthma ή ΜΜΑ σε σύντμηση) και 19 ασθενείς με σοβαρό άσθμα (severe asthma ή SA σε σύντμηση). Η ομάδα των μαρτύρων αποτελείτο από 17 υγιείς εθελοντές. Γραπτή συναίνεση πάρθηκε από όλους τους συμμετέχοντες και το αντίστοιχο ερευνητικό πρωτόκολλο εγκρίθηκε από τον Ελληνικό Οργανισμό Φαρμάκων (ΕΟΦ). Η βαρύτητα του άσθματος εκτιμήθηκε σύμφωνα με την ταξινόμηση GINA (Global Initiative for Asthma, updated 2009) ενώ όλοι οι ασθενείς λάμβαναν αγωγή ανάλογη της βαρύτητας του άσθματός τους, σύμφωνα με τις διεθνείς οδηγίες. Δείγματα ορού συλλέχτηκαν από όλους τους υγιείς εθελοντές και ασθενείς που συμμετείχαν στη μελέτη σε σταθερή κλινική κατάσταση (steady state), καθώς επίσης και από όσους ασθματικούς ασθενείς παρουσίασαν παρόξυνση κατά τη διάρκεια της μελέτης (n=17). Για να διερευνηθεί η ενδεχόμενη επίδραση της αγωγής με στεροειδή στην έκφραση της Opn, ελήφθησαν δείγματα ορού από 11 ασθενείς με μέτριο-σοβαρό άσθμα πριν και μετά από αγωγή 2 εβδομάδων με κορτικοστεροειδή από το στόμα. Ενδοβρογχικές βιοψίες ελήφθησαν με βρογχοσκόπηση από σε 29 συνολικά ασθματικούς ασθενείς (12 MMA και 17 SA) και 9 υγιείς εθελοντές, ενώ όποτε ήταν δυνατό συλλέχτηκε και BALF. Τα επίπεδα Opn μετρήθηκαν στον ορό και στο BALF μέσω ενζυμικής δοκιμασίας ανοσοπροσρόφησης (ELISA), ενώ η έκφραση της Opn στο βρογχικό ιστό καθορίστηκε με τη μεθόδο της ανοσοϊστοχημείας. Τα κύτταρα του βρογχικού ιστού, τα οποία παρήγαγαν Opn ταυτοποιήθηκαν με τη μέθοδο διπλής ανοσοφθορικής σήμανσης για την Opn και διάφορων κυτταρικών δεικτών ειδικών για λεία μυϊκά κύτταρα, μυοϊνοβλάστες, Τ και Β λεμφοκύτταρα, μαστοκύτταρα, ουδετερόφιλα και ηωσινόφιλα. Τα κύτταρα που βρέθηκαν θετικά και για τους δύο εκάστοτε δείκτες απεικονίστηκαν με τη βοήθεια συνεστιακού μικροσκοπίου σάρωσης με ακτίνες Laser (confocal laser microscope). Τέλος, μετρήθηκαν επίσης η πάχυνση της βασικής μεμβράνης του βρογχικού επιθηλίου (reticular basement membrane ή RBM σε σύντμηση) και ο βαθμός υπερπλασίας των καλυκοειδών κυττάρων (goblet cells) με τη βοήθεια ειδικού απεικονιστικού λογισμικού προγράμματος (image analysis software). Αποτελέσματα Τα επίπεδα Opn στον ορό βρέθηκαν στατιστικά σημαντικά υψηλότερα στους ασθενείς με σταθερό άσθμα εν συγκρίσει με τους υγιείς εθελοντές, ενώ ήταν σημαντικά χαμηλότερα κατά τη παρόξυνση της νόσου σε σχέση με τα επίπεδα σταθερής νόσου. Τα επίπεδα Opn στο BALF ήταν επίσης σημαντικά υψηλότερα στους ασθενείς με άσθμα. Εντούτοις δε παρουσιάστηκε στατιστικά σημαντική διαφορά στα επίπεδα Opn τόσο στον ορό όσο και στο BALF μεταξύ των δυο ομάδων MMA και SA των ασθματικών ασθενών. Η έκφραση της Opn ήταν σημαντικά αυξημένη στο βρογχικό ιστό όλων των ομάδων ασθματικών ασθενών σε σχέση με τους υγιείς εθελοντές τόσο στο βρογχικό επιθήλιο όσο και στα υποεπιθηλιακά φλεγμονώδη κύτταρα. Παρότι δε βρέθηκε διαφορά στο επίπεδο έκφρασης Opn στο βρογχικό επιθήλιο μεταξύ των ασθενών με MMA και SA, υπήρξε μια τάση αυξημένης παραγωγής Opn στους ασθενείς με SA σε σχέση με την ομάδα MMA. Εντούτοις, οι ασθενείς με SA παρουσίασαν σημαντικά αυξημένη έκφραση Opn στον υποβλεννογόνιο από τα υποεπιθηλιακά φλεγμονώδη κύτταρα σε σύγκριση με τους ασθενείς της ομάδας MMA. Επίσης, βρέθηκε πως η Opn εκφράζεται από τα λεία μυϊκά κύτταρα, τους μυοϊνοβλάστες, τα Τ-λεμφοκύτταρα και τα μαστοκύτταρα του βρογχικού ιστού στους ασθματικούς ασθενείς. Το πάχος της βασικής μεμβράνης (RBM) βρέθηκε στατιστικά σημαντικά αυξημένο στους ασθματικούς ασθενείς σε σχέση με τους υγιείς εθελοντές, ενώ η πάχυνση της RBM ήταν πιο εμφανής στους ασθενείς με σοβαρό άσθμα. Επιπροσθέτως, η ιστική έκφραση Opn συσχετίστηκε σημαντικά με την πάχυνση της RBM. Η υπερπλασία των καλυκοειδών κυττάρων ήταν επίσης σημαντικά αυξημένη στους ασθενείς με άσθμα. Παρά το γεγονός ότι παρουσιάστηκε μια τάση αύξησης του αριθμού των καλυκοειδών κυττάρων ανάλογα με τη βαρύτητα της νόσου, δεν βρέθηκε στατιστικά σημαντική διαφορά μεταξύ των τριών υποομάδων. Επίσης, η έκφραση της Opn στον βρογχικό ιστό δεν συσχετίστηκε με την υπερπλασία των καλυκοειδών κυττάρων. Συμπέρασμα Τα αποτελέσματα της μελέτης αυτής επιδεικνύουν πως η έκφραση της Opn στους ασθενείς με άσθμα εξαρτάται από τη βαρύτητα αλλά και από τον έλεγχο της νόσου. Τα δεδομένα της μελέτης υποστηρίζουν ότι η Opn έχει ένα ενεργό ρόλο στην εξέλιξη και ρύθμιση της φλεγμονής των αεραγωγών και της διαδικασίας της αναδιαμόρφωσης του βρογχικού ιστού που παρατηρείται στο άσθμα. πιθανώς αυτό να οδηγήσει στην έρευνα γύρω από ήδη υπάρχοντα ή και νεότερα φάρμακα και την δράση τους στην τοπική έκφραση της Opn στο βρογχικό ιστό των ασθενών με άσθμα