The Lancet, one of the world's top medical journals, on Thursday retracted a study that claimed the use of a drug favoured by President Donald Trump as a Covid-19 treatment was dangerous, claiming there were data inconsistencies.
Only hours later, another coronavirus paper in the New England Journal of Medicine was redacted, which was not linked to hydroxychloroquine but used the same healthcare company's patient records.
The Lancet study claimed to have retrospectively analysed some 96,000 patient records at 671 hospitals worldwide.
It found that anti-malarial drugs hydroxychloroquine and chloroquine were ineffective against Covid-19 and even increased the risk of death.
Mr Trump has promoted them as a "miracle cure" for the coronavirus and this week shipped two million doses of the drug to Brazil.
The findings published in The Lancet led the World Health Organisation to temporarily suspend clinical trials into the medicine.
But the study quickly caused concern in the scientific community due to lack of information about the countries and hospitals that contributed data.
More than 100 scientists questioned the source of the data and the methods use to analyse it.
Mandeep Mehra, a professor at Harvard University who led the research, along with Frank Ruschitzka of the University Hospital Zurich and Amit Patel of the University of Utah, said in a statement they had tried to launch a third-party peer review.
But data provider Surgisphere, a little-known healthcare analytics company based in Chicago, refused to co-operate.
"We can no longer vouch for the veracity of the primary data sources," Dr Mehra of Brigham and Women's Hospital in Boston, Dr Ruschitzka of University Hospital Zurich, and Dr Patel of the University of Utah said in a statement issued by The Lancet.
“Due to this unfortunate development, the authors request that the paper be retracted.”
Although three out of four of the authors supported the paper’s retraction, Sapan Desai, a vascular surgeon and Surgisphere's chief executive, did not join and declined to comment.
The journal’s editor, Richard Horton, expressed his dismay at the developments.
"This is a shocking example of research misconduct in the middle of a global health emergency," Horton told The Guardian.
Despite the finding apparently vindicating hydroxychloroquine's safety, there is still no proof from a randomised clinical trial that the medicine works against the virus.
A trial published on Wednesday found it was not significantly better than a placebo in preventing the disease among people who had been recently exposed to Covid-19.
But scientists broadly agree that more such tests are needed, and hydroxychloroquine should not be discounted yet.
The research scandal threatens to undermine confidence in the world's leading medical journals in the middle of a pandemic.
Researchers began to closely scrutinise The Lancet paper shortly after its publication, highlighting red flags ranging from the huge number of patients to the unusually complete information on their demographics.
The Guardian revealed that Surgisphere had a scant online presence, with only a handful of staff listed on LinkedIn, including a science fiction author and an adult model.
The company was involved in another attention-grabbing study that found the anti-parasite drug ivermectin could be useful against Covid-19.
Although this paper had not been peer-reviewed or appeared in a journal, it caused a run on the drug in Latin America where it is widely available.
While Desai and Surgisphere have been the focus of most scrutiny, the lead author of all of these papers was Dr Mehra, who is medical director at his hospital's heart and vascular centre.
Chris Chambers, a professor of psychology at Cardiff University, said the scandal "raises serious questions about the standard of editing at The Lancet and NEJM, ostensibly two of the world's most prestigious medical journals".
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
The specs
Engine: 3.5-litre V6
Power: 272hp at 6,400rpm
Torque: 331Nm from 5,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.7L/100km
On sale: now
Price: Dh149,000
The five pillars of Islam
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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About Housecall
Date started: July 2020
Founders: Omar and Humaid Alzaabi
Based: Abu Dhabi
Sector: HealthTech
# of staff: 10
Funding to date: Self-funded
The bio
Favourite book: The Alchemist by Paulo Coelho
Favourite travel destination: Maldives and south of France
Favourite pastime: Family and friends, meditation, discovering new cuisines
Favourite Movie: Joker (2019). I didn’t like it while I was watching it but then afterwards I loved it. I loved the psychology behind it.
Favourite Author: My father for sure
Favourite Artist: Damien Hurst
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
UNSC Elections 2022-23
Seats open:
- Two for Africa Group
- One for Asia-Pacific Group (traditionally Arab state or Tunisia)
- One for Latin America and Caribbean Group
- One for Eastern Europe Group
Countries so far running:
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
UAE currency: the story behind the money in your pockets
India cancels school-leaving examinations
Tonight's Chat on The National
Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.
Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.
Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.
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RESULT
Bayern Munich 3 Chelsea 2
Bayern: Rafinha (6'), Muller (12', 27')
Chelsea: Alonso (45' 3), Batshuayi (85')
Global state-owned investor ranking by size
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United States
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China
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3.
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UAE
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Japan
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5
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Norway
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6.
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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Our Time Has Come
Alyssa Ayres, Oxford University Press
Reputation
Taylor Swift
(Big Machine Records)