Securities clearing and settlement in Serbia according to recommendation of ECB-CESR

The aim of this paper is to, through analysis of the clearing and settlement system within the securities market and operating of the Central Securities Depository and Clearing House-a joint-stock company, Belgrade (ser. Centralni registar, depo i kliring hartija od vrednosti a.d. Beograd, hereinafter referred to as CSD), determine by comparison, the extent to which established rules and processes are harmonized with the EU regulations. Harmonization of the legal framework based on which the CSDs function, is one of the primary goals in the segment of business regulation at financial markets that the European Union pursues within its organizations. In this respect, in May 2009 The Governing Council of the European Central Bank (ECB) and The Committee of European Securities Regulators (CESR) issued an official document entitled Recommendations for Securities Settlement Systems (Ref. CESR/09-446) containing recommendations which seek to improve competitiveness, safety and soundness of pan-European post trading arrangements, that should ultimately lead to greater confidence in securities markets and better investor protection by reducing systemic risk. Following completion of the comparative analysis of law regulations, business techniques, data protection and all the relevant parameters in work of the CSD, it was established that there is a very high degree of harmonization with the corresponding recommendations from the CESR/09-446 document, and thus, when it comes to this segment, we can conclude that the Republic of Serbia may very swiftly, and without major additional harmonization, become a part of the integral EU financial market

Private equity funds as possible source of capital for SMEs in transitional economies: case of Serbia

Analyzing current problems which a lot of entrepreneurs and small and medium enterprise managers encounter in Serbia, as well as in some neighboring countries in the region of Central and South-Eastern Europe, it has become obvious that limited approach to quality long-term sources of financing is the most worrying one. As small and medium enterprises, according to many parameters, represent the most dominant sector in terms of its share in GDP, total production, employment and creation of values, in this paper we have tried to look into the role that private equity funds (PEF) may have in their financing. Analyzing alternative sources of financing SMEs on the one hand and basic principles of the function of private equity funds on the other, we have tried to identify the most important advantages and disadvantages of this source of financing in order to draw conclusion in terms of possible impact that PEF may have on the development of a certain number of SMEs

Value of the multidetector computed tomography in evaluation and prediction of response of esophageal cancer to the neoadjuvant chemo radiotherapy

Cilj: Neoadjuvantna (preoperativna) hemoradioterapija (HRT) je široko prihvaćena terapijska opcija u multimodalnom tretmanu uznapredovalog, lokorgionalno ograničenog karcinoma jednjaka, a multidetektorska kompjuterizovana tomografija (MDCT) danas predstavlja standard u radiološkom dijagnostičkom algoritmu bolesnika sa karcinomom jednjaka, jer omogućava istovremenu procenu lokoregionalne proširenosti maligne bolesti (T i N stadijum) i detekciju udaljenih metastaza (M stadijum). Glavni ciljevi rada su: 1) utvrđivanje dijagnostičke pouzdanosti MDCT sa CT perfuzijom u proceni odgovora karcinoma jednjaka na neoadjuvantnu HRT i 2) identifikacija morfoloških i perfuzionih karakteristika karcinoma jednjaka koje mogu da predstavljaju prediktivne markere potencijalnog odgovora na HRT, a koje je moguće detektovati inicijalnim MDCT pregledom sa CT perfuzijom. Metodologija: Prospektivnom kohortnom kliničkom studijom obuhvaćeno je 65 bolesnika sa lokalno uznapredovalim skvamocelularnim karcinomom jednjaka, lečenih neoadjuvantnom HRT, kojima je u inicijalnoj dijagnostičkoj obradi, kao i 4-8 nedelja po sprovedenoj HRT, urađen MDCT pregled vrata, grudnog koša i abdomena sa CT perfuzionom studijom, radi (inicijalne i post-HRT) procene stadijuma maligne bolesti jednjaka. Istraživanje je sprovedeno u Centru za radiologiju i magnetnu rezonancu Kliničkog centra Srbije (Odsek digestivne radiologije- Prva hirurška klinika i Odsek za multidetektorsku kompjuterizovanu tomografiju) i Centru za hirurgiju jednjaka Prve hirurške klinike Kliničkog centra Srbije, u periodu od januara 2007. do jula 2013. Patološka analiza je rađena u Službi za patohistologiju Kliničkog centra Srbije (Odeljenje za digestivnu patologiju)...Objective: Neoadjuvant (preoperative) chemo radiotherapy (CRT) is widely accepted therapeutic option in the multimodal treatment of loco regional advanced esophageal cancer, while multidetector-computed tomography (MDCT) is now the standard in diagnostic algorithm of patients with esophageal cancer, because it allows the simultaneous assessment of loco regional spread of malignancy (T and N stage) and the detection of distant metastases (M stage). The main objectives of this study were: 1) to estimate the diagnostic accuracy of MDCT together with the CT perfusion study in assessment of response of esophageal cancer to the neoadjuvant CRT, and 2) to identify the morphological and perfusion characteristics of the esophageal carcinoma, which could be the potential predictive markers of response to CRT, and those could be detected by initial MDCT examination with CT perfusion study. Methodology: 65 patients with loco regional advanced squamous cell carcinoma of the esophagus, who were treated with neoadjuvant CRT, were included in this prospective cohort clinical study. In all patients, MDCT examination of the neck, thorax and abdomen with CT perfusion study was performed in the initial diagnostic process, and repeated on the same way 4-8 weeks after completion of the CRT, due to staging and restaging purposes. The research was performed at the Center of Radiology and MRI of Clinical Center of Serbia (Unit of Digestive Radiology - First Surgical Clinic and Department of Multidetector Computed Tomography), and the Center of Esophageal Surgery, First Surgical Clinic, Clinical Center of Serbia, from January 2007 until July 2013. Pathological analysis was performed in the Department of histopathology (Department of Digestive Pathology), Clinical Center of Serbia. The study was approved by the Ethics Committee of the Medical Faculty in Belgrade..

Acute abdomen in a patient with Mayer-Rokitansky-Kuster-Hauser syndrome

Background. Mayer-Rokitansky-Kuster-Hauser (MRKH) syndrome is a malformation of female genital tract (incidence 1 in 4000 female newborn children). It appears as a result of a disorder in the development of Millerian cannals. Etiology is unknown. Syndrome MRKH is the most frequent cause of primary amenorrhoea (90%). Patients with MRKH have a normal female phenotype, with normal pubic hairness and thelarche, and female karyotype (46XX) followed by primary amenorrhoea. Hormonal status corresponds to healthy women, where the appearance of ovarian tumors and tumors on rudiment parts of uterus is possible. Case report. We presented a case of acute abdomen in a patient with previously not diagnosed MRKH. The diagnosis was done during the operation. Small pelvis and an abdominal part were filled with torquated tumor lump, where ovaries, oviducts, uterus or something resembling rudiment of uterus were not recognized through careful examination. Furthemore, the patient had a short, dead-end vagina. Tumorectomy was done and hystopathological finding showed the presence of vascular leiomyoma. Conclusion. The diagnosis of complex syndromes, such as MRKH, can, despite modern diagnostics, be absent for non-medical and psycho-social reasons. We can expect ovarian and uterine pathology on hypoplastic structures in these patients, as well as in healthy women. Vascular leiomyoma in the patients with MRKH was not found in the available literature

OD PREOKUPIRAJUĆEG VEZIVANJA DO DEPRESIJE: SERIJSKI MEDIJACIJSKI MODEL NA UZORKU ŽENA

Existing studies have confirmed the existence of a connection between depressive symptoms and insecure attachment, an undeveloped ability to mentalize, social anxiety and rumination, as well as their increasingly more frequent presence in the population of women. However, none of the studies have analyzed the mutual relations between the aforementioned phenomena. In this study we tested a multiple serial mediation model in which a preoccupied attachment style has an effect on depressive symptoms among women, mediated by the ability to mentalize one’s own state of mind, social anxiety and a tendency towards rumination, successively, in that order. The research was carried out on a geographical cluster sample and included 1258 working-age adults, respondents from 37 urban and rural locations, 20 administrative districts of Serbia, from which a sample of women was extracted (N= 791). The Relationships Questionnaire – RQ (Bartholomew and Horowitz, 1991), the Mentalization Scale – MentS (Dimitrijević et al., 2015), the Scale of Social Anxiety (Tovilović, 2004) and the Ruminative Thought Style Questionnaire – RTSQ; Brinker and Dozois, 2009) were all used in the study. The results have indicated that there is a significant specific indirect effect of the preoccupied attachment style on depression mediated by all three mediators sequentially (estimated indirect effect=.004, boot-strapped 95% CI=.002 - .007), suggesting that the preoccupied attachment style has an effect on depression by leading to a decrease in the ability to mentalize one’s own state of mind, which increases social anxiety, in turn leading to an increase in rumination, which ultimately leads to depression. These findings could be of importance for the treatment of a specific group of female patients with a preoccupied attachment style who suffer from depression.Postojeće studije potvrdile su postojanje povezanosti između simptoma depresije i nesigurnog vezivanja, nerazvijene sposobnosti za mentalizaciju, socijalne anksioznosti i ruminacije, kao i njihovu sve češću prisutnost u ženskoj populaciji. Ipak, nijedna studija nije analizirala uzajamne odnose između navedenih pojava. U ovom istraživanju testirali smo višestruki serijski medijacijski model u kojem preokupirajući stil vezivanja ima učinak na simptome depresije kod žena, kojima posreduju sposobnost mentalizacije vlastitog stanja uma, socijalna anksioznost i sklonost ruminaciji, redom i tim redoslijedom. Istraživanje je provedeno na geografskom klasterskom uzorku i uključilo je 1258 radno sposobnih odraslih osoba, ispitanika iz 37 urbanih i ruralnih lokacija iz 20 upravnih okruga Srbije, iz kojeg je izdvojen uzorak žena (N=791). U istraživanju su korišteni Upitnik o odnosima – The Relationship Questionnaire (Bartholomew & Horowitz, 1991), Upitnik za procjenu mentalizacije – the Mentalization Scale - MentS (Dimitrijević et al., 2015), Skala socijalne anksioznosti – the Scale of Social Anxiety (Tovilović, 2004) i Skala ruminativnog stila mišljenja – the Ruminative Thought Style Questionnaire – RTSQ (Brinker & Dozois, 2009). Rezultati ukazuju da postoji značajan specifični neizravni učinak preokupirajućeg stila vezivanja na depresiju kojem posreduju sva tri medijatora redom (procijenjeni neizravni učinak =,004, samodopunjavanje 95% CI=,002 - ,007), što ukazuje da preokupirani stil vezivanja ima učinak na depresiju jer vodi do smanjivanja sposobnosti mentalizacije vlastitog stanja uma, što povećava socijalnu anksioznost, te zatim vodi do povećane ruminacije i naposljetku do depresije. Ovi zaključci mogli bi biti od važnosti za liječenje specifične grupe pacijentica s preokupiranim stilom vezivanja koje boluju od depresije

INFLUENCE OF THE NUMBER OF PREVIOUS CAESAREAN SECTIONS ON LOWER UTERINE SEGMENT STATE

Determining the lower uterine segment (LUS) state before vaginal delivery and after Caesarean section, including pregnant women with more than one Caesarean section, may be an important step towards prevention from still high maternal and neonatal morbidity and mortality that follow uterine rupture. In pregnant women with one or more previous Caesarean sections, ultrasonic measuring of thickness and estimating the LUS integrity can objectively show the state of uterine scars. The aim of this study was to determine the influence of several previous Caesarean sections on the LUS state in term pregnant women. The prospective study included 62 pregnant women with one or more previous Caesarean sections – the examined group, and 50 pregnant women without Caesarean section – the control group, that after the 37th week of pregnancy had undergone the transvaginal ultrasonic measuring of the thickness of the LUS muscular tissue. In 57 pregnant women from the examined group delivered with another Caesarean section, we estimated, intraoperatively, the LUS integrity in the scar area. On the same occasion, in the scar area, the presence of defect – partial or complete was detected. The research pointed out that the average LUS thickness in the examined group – 1.92±0.95mm was statistically significantly lower compared to the control group – 2.68±0.97mm (p<0.001). The average LUS thickness in 52 examined women with one Caesarean section was 1.92±0.97mm, and in 9 women with two Caesarean sections the average thickness was lower – 1.78±0.82mm, which does not represent a statistically significant difference (p=0.85). In one pregnant woman with three Caesarean sections, the LUS thickness was 3.30mm. We registered the total of 13 pregnant women with a defect in the Caesarean section scar area (12 partial and 1 complete defects), in 12 women after one Caesarean section and in 1 woman after two Caesarean sections. The research results show that women with previous Caesarean section have significantly thinner LUS, compared to the group of pregnant women without scars. With the increasing number of previous Caesarean sections, the LUS thickness decreases, but the difference is not statistically significant. Intraoperatively, the presence of certain LUS classes compared to the number of previous Caesarean sections is not significantly different. Furthermore, the increase in the number of Caesarean sections does not involve a statistically significant increase in the frequency of Caesarean section scar defects, which is in accordance with other authors’ results

Finansowe, bilansowe i podatkowe konsekwencje ataku typu ransomware

Ransomware is a prime cybersecurity threat at the moment. In this paper we analyze financial implications of ransomware attacks, motivation of the ransomware victim to pay ransom, and legal, accounting and tax implications of such payment. The methodological approach used in the study is a combination of formal-dogmatic method and argumentative literature review. First, we provide an overview of all potential losses which could be incurred by the ransomware attack. Further, we analyze under which conditions is legal to pay any kind of ransom, including cyber ransom, as an organization as well as which other considerations victims should consider when deciding to pay ransom. In that respect we analyze accounting and tax implications of losses inflicted by the ransomware attack, putting special attention to the ransom payments.Oprogramowanie typu ransomware jest obecnie istotnym zagrożeniem w zakresie cyberbezpieczeństwa. W niniejszym artykule analizujemy finansowe konsekwencje ataków typu ransomware, a także motywy zapłaty okupu przez ofiarę takiego ataku oraz prawne, bilansowe i podatkowe konsekwencje takiej zapłaty. Podejście metodologiczne zastosowane w pracy stanowi połączenie metody formalno-dogmatycznej z metodą krytyki literatury. Na początku opisujemy wszelkie potencjalne straty, jakie mogą wynikać z ataku ransomware. Następnie poddajemy analizie warunki, w których zapłata przez jednostkę organizacyjną okupu jakiegokolwiek rodzaju, w tym wymuszonego drogą komputerową, jest legalna, a także inne względy, które ofiara musi wziąć pod uwagę, decydując się na zapłatę okupu. W tym zakresie analizujemy bilansowe i podatkowe implikacje strat poniesionych na skutek ataku ransomware, ze szczególnym uwzględnieniem zapłaty okupu

Noncanonical DNA elements in the lamin B2 origin of DNA replication

DNA replication origins of eukaryotes lack linear replicator elements but contain short (dT)(n) (dA)(n) sequences that could build mutually equivalent unorthodox structures. Here we report that the lamin B2 origin of DNA replication adopts an alternative form characterized by unpaired regions CTTTTTTTTTTCC/GGAAAAAAAAAAG (3900-3912) and CCTTTTTTTTC/GAAAAAAAAGG (4141-4151). Both unpaired regions are resistant to DNase and except in central parts of their homopyrimidine strands are sensitive to single strand-specific chemicals. Interactions that protect central pyrimidines probably stabilize the bubble-like areas. Because DNA fragments containing either one or both bubbles migrate in TBM (89 mM Tris base, 89 mM boric acid, and 2 mM MgCl2) PAGE even faster than expected from their linear size, interacting regions are expected to belong to the same molecule. In an origin fragment containing a single bubble, free homopyrimidine strand can only interact with Hoogsteen hydrogen bonding surfaces from a complementary double stranded sequence. Indeed, this origin fragment reacts with triplex preferring antibody. In competition binding experiments control double stranded DNA or single stranded (dT) 40 do not affect origin-antibody interaction, whereas TAT and GGC triplexes exert competitive effect. Because the chosen fragment does not contain potential GGC forming sequences, these experiments confirm that the lamin B2 origin adopts a structure partly composed of intramolecular TAT triads

Optimization of the preparation of novel polymer/clay nanocomposites

Recent advances in material technologies have resulted in the preparation of novel polymer/clay composites with improved thermal, mechanical, optoelectronic/ magnetic properties and increased biodegradability [1]. In this study, six samples of poly(glycidyl methacrylate-co-ethylene glycol dimethacrylate) (PGME) nanocomposites with organically-modified montmorillonite clay Cloisite 30B® (C30B), were prepared via suspension copolymerization. In order to obtain nanocomposites with fine spherical beads of regular shape and satisfying thermal stability the optimization of the synthesis conditions was performed. Firstly, the influence of the poly(N-vinyl pyrrolidone) (PVP) quantity in the aqueous phase was varied (1, 3 and 5 wt.%) at a constant stirring rate of 250 rpm and constant clay content C30B (10 wt.%). In the second phase of the optimization of the preparation, samples with a constant composition of the composite reaction mixture (5 wt.% PVP and 10 wt.% C30B) at a stirring rate of 250, 325 and 400 rpm, were prepared. According to the obtained results, it was concluded that the optimal conditions for preparation of these composites are 5 wt.% of PVP and 400 rpm. The prepared nanocomposites were characterized with Fourier transform infrared spectroscopy (FTIR), scanning electron microscopy (SEM) and thermogravimetric analysis (TGA) in air. The structure of the prepared nanocomposites was confirmed with FTIR spectroscopy. According to the obtained SEM microphotographs the fine spherical beads, with desired size and homogeneous morphology, were prepared. Furthermore, SEM analysis was also showed that clay nanoparticles are homogeneously dispersed both inside surface and cross-section area. The incorporation of C30B clay increased the thermal stability of the prepared polymer/clay nanocomposites in comparison to the pure PGME copolymer

CARVEDILOL POPULATION PHARMACOKINETIC ANALYSIS – APPLIED VALIDATION PROCEDURE

Carvedilol is a nonselective beta blocker/alpha-1 blocker, which is used for treatment of essential hypertension, chronic stable angina, unstable angina and ischemic left ventricular dysfunction. The aim of this study was to describe carvedilol population pharmacokinetic (PK) analysis as well as the validation of analytical procedure, which is an important step regarding this approach. In contemporary clinical practice, population PK analysis is often more important than standard PK approach in setting a mathematical model that describes the PK parameters. Also, it includes the variables that have particular importance in the drugs pharmacokinetics such as sex, body mass, dosage, pharmaceutical form, pathophysiological state, disease associated with the organism or the presence of a specific polymorphism in the isoenzyme important for biotransformation of the drug. One of the most frequently used approach in population PK analysis is the Nonlinear Modeling of Mixed Effects - NONMEM modeling. Analytical methods used in the data collection period is of great importance for the implementation of a population PK analysis of carvedilol in order to obtain reliable data that can be useful in clinical practice. High performance liquid chromatography (HPLC) analysis of carvedilol is used to confirm the identity of a drug and provide quantitative results and also to monitor the efficacy of the therapy. Analytical procedures used in other studies could not be fully implemented in our research as it was necessary to perform certain modification and validation of the method with the aim of using the obtained results for the purpose of a population pharmacokinetic analysis. Validation process is a logical terminal phase of analytical procedure development that provides applicability of the procedure itself. The goal of validation is to ensure consistency of the method and accuracy of results or to confirm the selection of analytical method for a given sample and drug. This study confirmed the importance of using valid analytical procedure for the purpose of carvedilol population pharmacokinetic analysis. Identification of demographic, pathophysiological and other factors that may influence the population carvedilol PK parameters gives the physician the possibility of a more comprehensive overview of the patient and better optimization of the therapeutical regimen