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Showing posts with label credible information and knowledge sharing. Show all posts
Showing posts with label credible information and knowledge sharing. Show all posts

Tuesday, April 11, 2023

Fighting dengue mosquito with Wolbachia

 

How do male Wolbachia-Aedes mosquitoes help suppress dengue mosquito population?

 

 Prof Ooi Eng Eong on using Wolbachia-Aedes mosquitoes to control dengue

Wolbachia mosquitoes have been released in some 39 localities since the “successful” pilot run of a dengue control project in 2017 that significantly reduced cases, according to the Institute for Medical Research (IMR).

The IMR, which is the research arm of the Health Ministry, told The Star that the Malaysian Wolbachia project that was launched on March 28, 2017, saw Wolbachia-carrying Aedes mosquitoes being released at 11 dengue hotspots in the Klang Valley.

“After one year of release, dengue cases decreased significantly,” it said.

IMR said that “after seeing the promising effect of the initial releases and being impressed by the apparent success of the trial”, the Health Ministry’s Disease Control Department, in collaboration with the IMR, has deployed Wolbachia-carrying Aedes to 28 more localities.

“The outcomes of this operational programme serve as the basis for future expansion of releases in additional dengue-prone areas.

“Malaysia is the first endemic country to use Wolbachia mosquitoes for dengue control. The Health Ministry has established a five-year plan for the release of Wolbachia mosquitoes in dengue hotspots as its rollout programme,” it said.

Vector control, consisting of source reduction, chemical control, biological control, and even genetic control, was one of the strategies used to combat Aedes-borne viruses, IMR said.

Biological control consists of using Wolbachia mosquitoes and the “sterile insect technique”.

“The Malaysian approach is a replacement strategy, where both male and female mosquitoes are released to replace the wild Aedes population in the field,” IMR said.

In other words, the “bad” Aedes aegypti mosquitoes are replaced with “good” Aedes aegypti mosquitoes.

The female Aedes aegypti mosquitoes carrying Wolbachia prevent the growth of dengue virus in the mosquitoes so that the dengue virus could not be transmitted when mosquitoes bite humans, it added.

IMR said the added benefit of the Wolbachia strategy was that it prevented the mosquito from picking up dengue virus from dengue patients who are asymptomatic.

“The asymptomatic transmission of dengue virus to mosquitoes through mosquito bites has been known for years, but there has been no solution to prevent it, but with the Wolbachia strategy, the solution is there,” it said.

When contacted last month, Health director-general Tan Sri Noor Hisham Abdullah said that analysis had shown that dengue cases had been reduced by 75% to 100% in the 14 localities where the Wolbachia Mosquito Operation (WMO) had been implemented for at least two years.

“Nevertheless, ongoing evaluation is required to assess the effectiveness of WMO in reducing dengue cases as well as its impact on averting dengue morbidity and mortality in the long term,” he said.

He said the WMO, which was launched in 2019, had also become a novel tool for vector control under the National Dengue Control and Prevention Programme.

Since July 2019, 28 high-dengue burden localities in Selangor (10), Kuala Lumpur and Putrajaya (7), Penang (4), Kelantan (2), Johor (2), Pahang (2), and Melaka (1) have been selected to implement WMO in a staggered manner.

Wolbachia is a bacterium and a form of biological control that is naturally occurring in 60%-70% of insects, spiders and nematodes.

It is usually introduced into Aedes mosquitoes to prevent the transmission of dengue viruses.

The Wolbachia bacteria stops the dengue virus from replicating, so the mosquito does not spread the virus when it bites. 

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Monday, April 10, 2023

Any contagion from US banking crisis?

 


THE collapse of four banks in the United States and Europe has sent fears of systemic risks throughout the global banking system.

Currently, the risk of contagion in Malaysia is low, given the limited direct and indirect exposure of the domestic banking system as well as the swift action taken by United States and Swiss regulators to contain their respective banking crises.

Banks in Malaysia are also generally well-capitalised with healthy liquidity positions, underpinned by a stable and diversified funding base.

Moreover, Bank Negara keeps a close watch on all banks operating locally as compared to the two-tier system in the United States, said RHB Banking Group regional sector head, group wholesale banking David Chong Voon Chee.

The United States has a dual banking system, with national banks regulated on the federal level and state banks regulated by each state.

Still, we should monitor for second and third order effects from these events, where possible cause-and-effects could lead to market volatility, tighter access to credit and ultimately, slower global growth.

In the United States, Californiabased Silicon Valley Bank (SVB) and New York’s Signature Bank, collapsed due to heavy losses on their bond portfolios and a huge run on deposits.

San Diego-based Silvergate Bank, which catered largely to cryptocurrency companies, had voluntarily wound down its operations.

As investors began ditching out anything related to banking risks, Switzerland’s scandal-ridden Credit Suisse also collapsed as its largest shareholder, Saudi National Bank, stopped investing in it.

As a result of the banking crisis in March, 2023, the jump in risk indicators – credit default swaps of major US and European banking names as well as US sovereign credit default swaps – has become worrying.

However, their levels are still far from the highs of the global financial crisis of 2008.

A credit default swap is a financial derivative that allows investors to offset their credit risks with that of another investor.

But volatility outside of rates – in other asset classes like foreign exchange, equities and commodities – remain relatively modest by historical standards, implying that the crisis is not systemic, said United Overseas Bank in a report.

In the case of Malaysian banks, beyond the minimum level of 8% for total capital ratio (TCR), excess capital stands at about Rm196bil, as of January.

Meanwhile, TCR (the ratio of total capital to total risk-weighted assets) at 18.9% in January is way above the prescribed level of 8%.

This means that banks have substantial buffer in their capital levels where they are able to absorb a significant amount of loans impairment and market volatility, said Bank Muamalat chief economist and social finance, Mohamed Afzanisam Abdul Rashid.

Despite external uncertainties, this indicates that borrowing and lending activities can be conducted seamlessly, while households and businesses are able to access credit from the banking sector without hassle.

Nevertheless, every financing application will be subjected to their eligible criteria including repayment history and the level of indebtedness.

Malaysian banks also usually have a relatively smaller portion of assets in investments while interest rate increase is less drastic, and hence, the mark-to-market losses would be comparatively smaller, said Fortress Capital Asset Management Sdn Bhd CEO Thomas Yong.

If a security was bought at a certain price and the market price dropped later, it would result in an unrealised loss, marking the security down to the new market price would lead to mark-to-market losses.

Malaysian banks also have a large portion of household depositors, while business depositors are diversified across different industries.

Hence, the need for a large amount of liquidity to fund withdrawals is less urgent.

While there will be jitters, banks in Malaysia are well-regulated besides having a diversified depositor base, they also have retailers who are more loyal, said Etiqa Insurance and Takaful chief strategy officer Chris Eng.

The funding base of the Malaysian banking system remained strong, with an aggregate liquidity coverage ratio (LCR) and net stable funding ratio of 154% and 118.2% respectively, at the end of 2022.

The LCR seeks to ensure that banks hold sufficient high-quality assets, while the net stable funding ratio calculates the proportion of available over required stable funding.

More than 80% of banks’ high quality liquid assets are in the form of placements with Bank Negara and government bonds, which banks can access and pledge in the interbank market or with Bank Negara for additional liquidity, according to Maybank Investment Bank in a report.

Foreign currency external debt-at-risk was manageable, at Rm80.4bil or 20.3% of total banking system external debt.

Loans under repayment assistance programmes declined to 4.2% of total banking system loans at the end of 2022, from 5.7% at the end of June, 2022.

Loan loss coverage ratio (which indicates how protected a bank is against future losses), including regulatory reserves, remained high at 118.2% at the end of 2022.

Since the Asian Financial Crisis in 1997, Malaysia’s banking industry has gone through a significant consolidation which brought down the number of banks from more than 60 to about 10 banks by early 2020.

Non-performing loans had led to the creation of Danaharta Nasional to address non-performing accounts while banks concentrated on running their businesses.

Risk management oversight was implemented at a robust pace and Malaysian banks were required to run multiple scenarios for the stress testing of their balance sheets.

This resulted in well-capitalised and highly liquid banks as well as sound credit underwriting standards.

Following the recent banking crisis, banks especially those in the United States and Europe, now need to defend and fight for their credit worthiness.

While fears of contagion are being allayed for now, caution and constant monitoring will prevail. 

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  Related posts:

 

SVB meltdown exposes risks of fragile US bank system, highlights need to strictly maintain the bottom line of low risks

  CLICK TO ENLARGE   “This is all part of a broader discussion of possibilities for reducing the use of the dollar. This discussion is not n..

 US itself is accelerating the de-dollarization process  De-Dollarization and the Fall of American Hegemony Ever since the Fed ended its ult...
 
 
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It's impossible for South Korea to enjoy being monitored: Global Times editorial

Facts repeatedly prove that the US, which believes in the principle of power, is not softer on its allies when it comes to using intelligence as a tool for blackmailing and coercion than it is toward a powerful "opponent."

 

Sunday, April 9, 2023

Abuse of hegemony is why de-dollarisation is trending

 US itself is accelerating the de-dollarization process

 De-Dollarization and the Fall of American Hegemony

Ever since the Fed ended its ultra-loose monetary policy and turned to a radical rate hike approach, the international financial market has been in turmoil with many currencies depreciating sharply. That has forced many countries to diversify their foreign exchange reserve assets. – AP

 

MARKET expectations for the Federal Reserve to end interest rate hikes have picked up as core inflation data in the United States has dropped and the University of Michigan’s consumer confidence index fell from 67 in February to 62 in March – yet worries abound about the outlook for the US economy.

Former US Treasury secretary Larry Summers said recently that it is too early to say that the US has shaken off the financial woes caused by its rapid interest rate hikes. The US economy is likely to experience a serious recession as a result of the recent banking crisis, with little chances of a “soft landing”. With recession expectations picking up, the factors supporting a strong US dollar are disappearing.

Ever since the Fed ended its ultra-loose monetary policy and turned to a radical rate hike approach, the international financial market has been in turmoil, with many currencies depreciating sharply. That has forced many countries to reduce holdings of US Treasuries, diversifying foreign exchange reserve assets.

In mid-march, Russia’s central bank reported that the ruble and “friendly” currencies together accounted for 52% of Russian export settlements at the end of 2022, surpassing the share of the US dollar and euro for the first time on record.

The members of Asean agreed at the end of March to strengthen the use of local currencies in the region and reduce reliance on major international currencies in cross-border trade and investment. On April 1, India and Malaysia agreed to settle trade in Indian rupees.

Data show that the proportion of US dollar reserves and assets in global central banks’ foreign exchange reserves has dropped from 65.46% in the first quarter of 2016 to 59.79% in the third quarter of 2022.

Despite its declining status, the US dollar still accounts for the largest share of global trade settlement, central banks’ foreign exchange reserves, global debt pricing, and global capital flows. However, the abuse of the US dollar hegemony has led many countries to launch a “de-dollarisation” campaign. The more the US dollar is used as a weapon, the faster it will be abandoned by other countries.

It’s unrealistic that some in the United States want to safeguard the benefits brought by the US dollar as a leading international currency, but don’t want to shoulder corresponding international responsibilities. – China Daily/Asia News Network

 Image result for Asia News Network, images/pictures

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China in second day of 'Joint Sword' military drills encircling Taiwan

GT investigates: why are more US politicians joining Kevin McCarthy's anti-China stunt?

 

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  CLICK TO ENLARGE   “This is all part of a broader discussion of possibilities for reducing the use of the dollar. This discussion is not n.
 
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Saturday, April 8, 2023

'Dedollarisation' is feasible

 

CLICK TO ENLARGE

 “This is all part of a broader discussion of possibilities for reducing the use of the dollar. This discussion is not new and has happened in the past but it appears to be more serious now and the actual changes are taking place,” - Prof Geoffrey William

Of late, the hot topic that is rapidly gaining pace is many countries, including Malaysia, are mulling the idea of reducing their trade dependency on the US dollar.

Prime Minister Datuk Seri Anwar Ibrahim has also lent heavy support to the thought of reducing Malaysia’s dependency on the greenback in terms of attracting foreign direct investments into the country, as well as in bilateral trades not involving the United States.

This came as Anwar announced on Tuesday that investments worth about RM170bil by China-based companies would be kicking off next month.

The prime minister has also last week proposed the setting up of an Asian Monetary Fund (AMF), stressing the need to lower reliance on the greenback as well as the US-backed International Monetary Fund (IMF), an idea that he himself reported has been well received by Chinese President Xi Jinping, who is open to discussing its implementation.

According to Geoffrey Williams, economics professor at Malaysia University of Science and Technology (MUST), what Anwar was saying is in line with a growing group of international leaders seriously questioning the role of the dollar and the US/European Union systems, hence the prime minister’s comment is a change of tone with possible action points.

“This is all part of a broader discussion of possibilities for reducing the use of the dollar. This discussion is not new and has happened in the past but it appears to be more serious now and the actual changes are taking place,” Williams told StarBiz.

He concurred with Anwar’s view that bilateral trade between two nations could use the currencies of the countries involved instead of the dollar, calling it “feasible” and is in fact growing in popularity.

“Most commodities are priced and traded in dollars but direct sale of oil between Russia and China as well as India is circumventing that arrangement.

“There is an increasing probability this will extend to more countries and more commodities,” Williams said.

Some parties have even suggested that Anwar may not be taking any sides in the global balance of power between China and the United States, despite his preference for dollar independence.

However, uneasiness remains on the geopolitical implications of the suggested move and how it will affect relationships between countries such as Malaysia and the United States as well as its allies.

While acknowledging such concerns, Williams said: “At the moment, many countries are understandably questioning whether the dollar dominance is beneficial to them and if better exchange arrangements could be found.”

Meanwhile, economist and chief executive at Centre for Market Education, Dr Carmelo Ferlito, said that while countries can ponder over better options in a multipolar world, alternatives need to be weighed in with painstaking care.

Ferlito said the appearance of the euro in 1999 was met with a warm welcome since it forced the dollar to face a competitor characterised by stronger monetary discipline, and that the emergence of something new in the East, if properly conceived, could strengthen the path towards monetary stability.

However, he added: “If global currency competition were to move in the right direction, the path will remain incomplete without an actual competition between currencies within countries.

“A competition that enables individuals to choose the currency to be used for their daily transactions, favouring the emergence of a virtuous competition among currencies toward stability.

“Our point is thus that the new and vibrant developments in the international monetary scene can be a source of benefit – rather than spawn geopolitical tension – only if accompanied by a true opening of national economies to competition among available currencies. 

A novel Asean or BRICS (Brazil, Russia, India, China and South Africa) currency could become a strong alternative

“In this way, a novel Asean or BRICS (Brazil, Russia, India, China and South Africa) currency could become a strong alternative not as the result of a political will of power but simply as a consequence of market competition.”

On the setting up of an AMF, MUST’s Williams said such an idea is definitely attainable but would require participation across many Asian countries, especially to provide the finance and to agree to the terms on which access to that finance is made available.

As such, he remarked that it is not just a financial matter but also a geopolitical one.

“The main issue is who will fund the AMF and what will be the contribution rates for each member.

“It is likely that most will come from China, unless Japan and South Korea joins in. Otherwise most Asian countries are too small to contribute much.

“Ultimately, this will be driven by economic cost-benefit considerations and whether non-aligned countries like Malaysia can maintain good relationships with all parties without using the dollar,” he noted.

On the other hand, the move to bilateral currencies for trade and investment between two countries, while feasible, would be more at risk to exchange fluctuations and liquidity issues, Williams said, adding that this could be improved by a switch to multiple currency options.

Of note, and on something that has not been touched by Anwar, the economics professor said the dollar still provides stable, reliable and secure financial systems such as the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

“Cybersecurity is essential and the questions of geopolitical stability also arise but these may not be solved by breaking up international systems into smaller regional systems,” he said.

There certainly has been an influx of recent activities geared towards reducing the use of the dollar in international trade, such as the discussions between Brazil and Argentina to create a common currency or Saudi Arabia declaring its openness to trade in other currencies other than the greenback for the first time in 48 years.

But the fact that the International Monetary Fund data shows central banks worldwide are still holding about 60% of their foreign exchange reserves in dollars as at the fourth quarter of 2022 literally means it is extremely unlikely the currency would be losing its status as the global reserve unit anytime soon. 

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Crisis jolts Wall Street bankers

 

Crisis jolts Wall Street bankers already resigned to tough ...

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UPDATE 1-Crisis jolts Wall Street bankers already ...

 

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Sunday, April 2, 2023

Mad media mania, CNN and BBC for world news both become arguably biased and unreliable

n the hot seat: Chew had the unenviable task of fielding questions, interrogated by this bunch of rude and abusive people with accusations that they can’t substantiate during the Congressional hearing. – AP/Bloomberg

 The US is afraid a social platform, perceived as ticking timebomb, is about to explode in an expose of its nation

 I wish most of us didn’t have to depend on CNN and BBC for our world news, but our choices are really limited.

The regional media, including those in Malaysia, also depend on Western news agencies for international news.

Only these news agencies have the resources and ability to deliver breaking news swiftly to the world.

As much as Al-Jazeera and CGTN (China Global Television Network) try to compete, they can’t because their presentations seem to lack global flavour.

Al-Jazeera is owned by the monarchy government of Qatar.

It focuses more on the Arab world while CGTN is bereft of appeal because its reporting appears government-centric and serious.

So whether we like it or not, we’re left with CNN and BBC for world news on TV, but unfortunately, both have become arguably biased and unreliable, and have even gone overboard at times.

If we are to believe what CNN has been reporting, the Russians lost the war with Ukraine a year ago. Almost every daily news bite is about the Russians suffering yet another blow, but the Ukrainians have yet to regain their lost territories.

The attacks on China have also become ridiculous and to many Asians, especially those in the Chinese diaspora, it has degenerated into comedy, when it used to merely be annoying previously.

The Chinese have been accused of wanting to supply arms to Russia. That has somehow stopped now because even Ukraine has quashed that claim.

So we have countries which are sending or selling arms to Ukraine who are hypocritically warning China against doing the same. They have given up on Iran being the beneficiary now, of course.

But the icing on the cake must be the US Congress hearing, where TikTok CEO Shou Zi Chew, a Singaporean, was grilled by Republican and Democrat politicians.The lawmakers supposedly assumed bipartisan roles in this instance, meaning for once, they were on the same side, but they were clearly partisan.

The poor CEO had the unenviable task of fielding questions, interrogated by this bunch of rude and abusive people with accusations that they can’t substantiate.

They had already made up their minds even before listening to Chew, and they were given glowing reports by CNN until last week when it became obvious the world was making fun of these members of Congress.

To be more precise, they were even targeted in talk shows where they were mocked and ridiculed.

This was a classic case of a group of digitally illiterate political oldies sounding like leftovers from the McCarthy era of the 1960s which witch-hunted imagined communists. These fogies even believe TikTok users are being used to spy for the Chinese government and imagine the app is a national security risk.

The Americans, British, Russians, Israelis and many other countries have all been involved in spying activities since time immemorial, yet suddenly, they’re worried about TikTok being used to spy on Americans?

So these politicians have unwittingly exposed their ignorance of how modern technology works. The more they queried Chew, the more foolish they revealed themselves to be.

One Congressman asked, “if I have a TikTok app on my phone and my phone is on my phone’s Wi Fi network, does TikTok access that network?” What a stupid question.

To this Chew replied: “‘It will have access to the network to get a connection to the Internet, if that’s the question.”

It’s perplexing that a CEO of a tech company is asked about espionage and the plight of Uighurs in China, when Muslims in Syria, Yemen, Afghanistan, Libya, and Iraq have been bombed flat for decades.

And on the day CNN reported widely on the Congressional hearing, there wasn’t a peep about how Apple CEO Tim Cook was given a rousing welcome in China.

The treatment from the Chinese of Cook couldn’t have been more contrasting following the hours of Chew’s pummelling in the US.

Perhaps US politicians would want to haul Cook up to explain whether iPhones – of which 95% is made in China – could be used to spy on Americans.

These paranoid lawmakers should be worried about toting these Chinese-made US-owned mobiles.

But with more than 150 million TikTok users in the US, that translates into a massive number of votes. After all, the politicians can reach the voters more effectively via TikTok.

So why ban the app if it serves their selfish interests? 

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Wong Chun Wai

Wong Chun Wai

Wong Chun Wai began his career as a journalist in Penang, and has served The Star for over 35 years in various capacities and roles. He is now group editorial and corporate affairs adviser to the group, after having served as group managing director/chief executive officer. On The Beat made its debut on Feb 23 1997 and Chun Wai has penned the column weekly without a break, except for the occasional press holiday when the paper was not published. In May 2011, a compilation of selected articles of On The Beat was published as a book and launched in conjunction with his 50th birthday. Chun Wai also comments on current issues in The Star.


 Forcing TikTok to sell its shares is a shameless manifestation of US’ hegemonism

 

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When White House cracks down on TikTok, what is US afraid of? 

 

China reaffirms opening-up, stresses cooperation at Development Forum .   China rea...

 Calls for cooperation between China and US grow at high-level platform in Beijing

While the US has intensified crackdowns on Chinese companies, business representatives from the US called for increased cooperation between the world's two largest economies at the China Development Forum (CDF) 2023, a high-level dialogue platform held in Beijing from Saturday to Monday. 

 

 

<< Photo: A screenshot of Apple's Tim Cook's Sina Weibo on March 24, 2023.

 

 

 

 Greatest threat to the USA is Peace; China is now fearless drawing red lines with US and no longer can be bullied. 史无前例! 中美天津會談. 史無前例! 第一次有一個國家

 

Friday, March 31, 2023

Dengue case numbers to peak this year following cycle uptrend

 



Dengue spike due to four-year epidemic cyclical pattern, says Health DG

 

PETALING JAYA: The rising number of dengue cases is part of a cyclical trend and is expected to peak this year, says Tan Sri Dr Noor Hisham Abdullah.

The Health director-general said this was based on national data, which shows that dengue trends follow a cyclical pattern with an epidemic being reported every four to five years.

“The recent dengue epidemics were observed in 2014 and 2019, with an average of 2,300 cases per week and 2,500 cases per week reported respectively.

“The rising number of dengue cases is partly contributed by the change in dominant circulating dengue serotype, or the ‘serotype shift’, which is a well-known reason for dengue surges.

“It has been observed that dengue cases will increase usually four to six months after a serotype shift due to the lack of immunity in the community towards the new dominant circulating serotype,” he said in a statement yesterday.

From the Health Ministry’s surveillance monitoring, there has been a shift of the circulating dengue virus serotype from DEN 3 to DEN 4 since June 2021, Dr Noor Hisham added.

Since then, the DEN4 serotype has been the dominant circulating virus serotype in the environment, he said.

In 2022, Malaysia reported 66,102 dengue cases with 56 deaths, compared to 26,365 cases with 20 deaths in 2021.

This was an increase of 150.7% in dengue cases and a 180% increase in deaths from the previous year.

Dr Noor Hisham said that other countries in the region are also seeing a rise in dengue this year.

In terms of contributing factors, he pointed out that human behaviour, such as littering, is among the main reasons for poor environmental cleanliness.

“The abundance of man-made containers (being littered) have provided suitable breeding places for Aedes mosquitoes,” he said, adding that climatic change is also an important factor, especially with alternating rainy and hot seasons. 

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