New Tuberculosis Treatment for $1,040 in Developing Countries

Varieties

October 31st, 6:53am

London - Asharq Al-Awsat

A symbol of the World Health Organisation at its headquarters in Geneva. Photo: AFP

A newly approved three-drug treatment for tuberculosis will be available in 150 countries including India and South Africa, priced at $1,040 for a complete regimen, more than twice the cost proposed in the past by advocacy groups for other treatments. The United Nations-backed Stop TB Partnership said on Monday that BPaL would be obtainable in eligible countries through the Global Drug Facility (GDF), a global provider of TB medicines created in 2001 to negotiate lower prices for treatments, Reuters reported. Tuberculosis was responsible for 1.5 million deaths in 2018. BPaL is an oral treatment which promises a shorter, more convenient option to existing TB treatment options, which use a cocktail of antibiotic drugs over a period of up to two years. The new cocktail, which will treat extensively drug-resistant strains of the illness, consists of drug developer TB Alliance's newly-approved medicine pretomanid, in combination with linezolid and Johnson & Johnson's bedaquiline. Pretomanid, which will be available at $364 per treatment course, is only the third new medicine for drug-resistant tuberculosis to be approved in about 40 years, after bedaquiline and delamanid. Advocacy groups have long criticized the cost for bedaquiline and delamanid. Not-for-profit Médecins Sans Frontières (MSF) has waged a running battle in public with J&J over its $400 price tag for a six-month course for bedaquiline. MSF has argued that bedaquiline could be produced and sold at a profit for 25 cents per day, and that the price of treatments for drug-resistant TB should be no higher than $500 for a complete treatment course. But Stop TB Partnership says costs of other regimens for extremely drug-resistant TB range from $2,000 to $8,000 for courses of at least 20 months. Stop TB Partnership said it would start supplying the regimen following World Health Organization's guidance on using the drug.

from Asharq AL-awsat https://aawsat.com/english/home/article/1969751/new-tuberculosis-treatment-1040-developing-countries

Fires Burn Multimillion-Dollar Homes

Varieties

October 31st, 6:46am

New York - Asharq Al-Awsat

The Getty Fire burns near the Getty Center along the 405 freeway north of Los Angeles, California, US October 28, 2019. Reuters

A fast-moving wildfire destroyed at least five multimillion-dollar homes in one of the wealthiest neighborhoods in Los Angeles and forced celebrities to flee in the middle of the night. Among neighborhoods under evacuation orders was the posh area of Brentwood, a section on the west side of the city that became world famous in 1994 when former football star O.J. Simpson was accused of killing his ex-wife and a waiter there. Today Brentwood is home to basketball superstar LeBron James, A-list Hollywood actors, and wealthy producers and media company executives. James, who plays for the Los Angeles Lakers, said he and his family had to drive around in the early morning hours looking for a place to stay after fleeing the home he shares with his wife and three children, Reuters reported. James bought a $23 million, eight-bedroom home in Brentwood in late 2017, according to media reports. Actor and former California Governor Arnold Schwarzenegger also said he was among the thousands who had to evacuate overnight. A red-carpet premiere for Schwarzenegger's new movie, "Terminator: Dark Fate," that had been scheduled for Monday night was canceled due to fires in the area. The "Terminator" premiere had been scheduled to take place in Hollywood, several miles from the fire zone. Food intended for the premiere party was being donated to local American Red Cross shelters that were housing fire evacuees, Paramount Pictures said. On the northern edge of Brentwood, a cluster of several multimillion-dollar homes were reduced to smoldering debris along a street festooned with Halloween decorations. A fake bloody arm, part of the holiday decorations, had turned into melted plastic at one dwelling, and a giant skull replica remained in the front of another. Heavy smoke and ash filled the air as water-dropping helicopters and airplane tankers buzzed overhead.

from Asharq AL-awsat https://aawsat.com/english/home/article/1969741/fires-burn-multimillion-dollar-homes

Saudi King, Brazil’s President Witness Exchange of 4 Cooperation Deals

Gulf

October 31st, 6:05am

Riyadh - Asharq Al-Awsat

The Custodian of the Two Holy Mosques receives Brazil's President. SPA

The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and Brazilian President Jair Bolsonaro have witnessed the exchange of four cooperation agreements between Saudi Arabia and Brazil. The deals covered defense cooperation, procedures for granting citizens of the two countries visit visas, cultural cooperation, and quality, safety, and efficiency of health products and cosmetics. The documents were exchanged on Wednesday by relevant ministers and high-ranking officials. Earlier, the Saudi King and Bolsonaro held official talks at Al-Yamamah Palace in Riyadh. They reviewed bilateral relations between the two countries and ways of developing and strengthening them. They also exchanged views on all regional and international issues of common interest. A joint statement said that the leaderships of the two countries considered the Brazilian President's visit to the Kingdom as an important step in consolidating bilateral relations between the two countries, citing the agreements signed and the topics discussed during the visit in addition to the large delegation that accompanied Bolsonaro. Saudi Arabia and Brazil stressed enhancing defense cooperation between the two countries and agreed to continue cooperation in the fields of training. The statement said that the two states identified several joint important fields for cooperation and investment, such as agriculture, industry, energy, mining, infrastructure, transport, science, technology and innovation. They agreed to intensify cooperation in the peaceful use of nuclear energy, culture, the use of outer space and sports, which would greatly contribute to boosting economic partnership between the two countries. The two sides also discussed issues of common interest with regard to international peace and security and the need to strengthen the international partnership to combat terrorism and confront extremism.

from Asharq AL-awsat https://aawsat.com/english/home/article/1969706/saudi-king-brazil%E2%80%99s-president-witness-exchange-4-cooperation-deals

Saudi Crown Prince Meets Niger President, Burkina Faso’s PM

Gulf

October 31st, 5:40am

Riyadh - Asharq Al-Awsat

Saudi Crown Prince meets in with President of Niger. SPA

Saudi Crown Prince Mohammed bin Salman bin Abdulaziz, Deputy Prime Minister and Minister of Defense, has met in Riyadh with President of Niger Mohammadou Issoufou. During the meeting, they reviewed aspects of enhancing bilateral relations including the promising opportunities to develop them in various fields, as well as cooperation in combating terrorism. The Crown Prince also met with Burkina Faso’s Prime Minister Christophe Joseph Marie Dabire. During the meeting, they reviewed means of enhancing bilateral ties in various fields and cooperation in combating terrorism.

from Asharq AL-awsat https://aawsat.com/english/home/article/1969701/saudi-crown-prince-meets-niger-president-burkina-faso%E2%80%99s-pm

Iraq: Former PM Suggests Initiative to Solve Crisis

Arab World

October 30th, 11:48am

Baghdad- Hamza Mustafa

Iraqi police fire teargas at protesters during a demonstration against state corruption, failing public services and unemployment at Tayaran square in Baghdad on October 2, 2019. (AFP)

Former Iraqi Prime Minister Haider al-Abadi has put forward a 16-point initiative to resolve the political crisis in the country in which he called for the government’s resignation and the formation of a new interim and independent cabinet. Abadi said that according to Article 61 of the Constitution, the parliament can withdraw confidence from the current government, at the request of the President or based on questioning. An interim government will be formed with a limited number of ministries chaired by independent figures, given that none of them run for upcoming elections. He also indicated that the Prime Minister must be an independent figure. The interim government will prepare for early elections that will be held in 2020 at most, with the adoption of a new electoral law and independent electoral commission with the involvement and supervision of the United Nations, according to Abadi. The former PM called for the formation of an independent criminal court radical, urging reforms of the judiciary to achieve justice and prevent corruption. Abadi explained that the interim government should work to ensure that political parties and entities do not interfere with the state, and restrict weapons to the state and its legitimate institutions. Meanwhile, Supreme Judicial Council strongly condemned the former PM after Abadi called for maintaining the independence of the judiciary. He also tweeted against putting the justice system in a fight against the people. Council spokesman Abdul-Sattar Bayrakdar responded to Abadi’s statement reassuring him and others that the judiciary “was and will remain independent” and will not be biased with one party against the other. Bayrakdar addressed Abadi saying: “You know that the judiciary does not respond to the wishes of the executive branch.” In addition, Jassim al-Aliyawi, member of Nasr Coalition led by Abadi, lamented the Council's statement, pointing out that Abadi was surprised by the language used. He added that Abadi wrote a tweet calling for the independence of the judiciary because “we were and still bet on the judiciary as the last line of defense”. He believed the reaction was incorrect and the speech used doesn’t befit the language of the judiciary, and must not be dragged into political differences for whatever reasons. Aliyawi explained that the initiative would be discussed with their allies, namely National Wisdom Movement. He noted that some forces were trying to take advantage of the situation especially that things were still not clear.

from Asharq AL-awsat https://aawsat.com/english/home/article/1968546/iraq-former-pm-suggests-initiative-solve-crisis

Sovereign Wealth Funds Target Alternative Investments

Business

October 30th, 11:37am

Riyadh - Mosaed al-Zayani

A sign of the Future Investment Initiative is seen during the investment conference in Riyadh, Saudi Arabia October 23, 2018. Reuters/Faisal Al Nasser

World sovereign funds officials, who participated in the Future Investment Initiative (FII) in Riyadh, said that funds were seeking to diversify their investments to distribute the risks. They stressed that the transition to alternative investments would constitute a large part of the investment portfolios in sovereign funds, underlining a trend to hold partnerships with family businesses. Khalid Al-Rumaihi, chief executive of Bahrain's Mumtalakat Holding Company, said that sovereign wealth funds varied through their operations, as they were strategic assets of the state and operated like private equity firms. Al-Rumaihi noted that he expected the company’s investments in alternative investments to increase to 30 percent by 2031. “As long as the source is good for investment, sovereign funds tend to work together in this direction,” he said. The shifts of SWF investments from one sector to another are “natural, in line with the global developments in the economies and structural transitions in the fourth industrial revolution, according to Mumtalakat chief executive. Farouk Bastaki, Managing Director of the Kuwait Investment Authority, said that the heads of sovereign funds around the world were not worried about the fluctuation of liquidity. He pointed out that the diversity of investments adopted by sovereign funds “gives impetus to the distribution of risks, and strengthens sectors that were marginalized.” Heenam Choi, chairman and chief executive officer of Korea Investment Corporation, said his country was currently seeking to increase the focus on alternative investments, from 16 percent to 20 percent by 2021. Participants in the FII conference explained that sovereign funds have significant investments in commodities and technology companies. They noted that one of the highlights of future investment was the partnerships between sovereign funds and family businesses in the coming years. They also stressed the importance of balancing the investments of sovereign funds between domestic and foreign investment.

from Asharq AL-awsat https://aawsat.com/english/home/article/1968516/sovereign-wealth-funds-target-alternative-investments

Five Candidates to Run For Upcoming Presidential Elections in Algeria

Arab World

October 30th, 11:20am

Algiers - Boualem Goumrassa

Part of the judges’ demonstrations in the center of the Algerian capital on Tuesday, October 29, 2019 (AP)

Algeria’s Independent National Authority for the Organization of Elections will announce next Wednesday the results of “reviewing” 22 dossiers for candidates running for elections scheduled on December 12. Sources suggested that the authority is likely to retain five candidates only because the rest were unable to collect the necessary signatures. Sources from the Electoral Authority told Asharq Al-Awsat that the candidates whose files met the legal requirements contained in the electoral law are former premiers Abdelmadjid Tebboune and Ali Benflis, who heads an opposition party, former Minister of Culture Azzedine Mihoubi, leader of the Democratic National Rally party (RND), 2014’s presidential candidate Abdelaziz Belaid and Abdelkader Bengrina. Among these five candidates, three were senior officials under former President Abdelaziz Bouteflika (1999 – 2019). The candidates are: Benflis, who ran twice against Bouteflika in the 2004 and 2014 presidential elections and was his campaign manager in 1999, Tebboune, who described himself as a "victim of Bouteflika’s regime," arguing that influential businessmen deported him from the premiership two months after being appointed to the post. The third is Mihoubi, who served twice as a minister in two sectors and was also director of the state radio. Bengrina said he will become Algeria’s president on December 13 if the elections were held without fraud. He underestimated the sharp rejection of elections by thousands of demonstrators, who express this position in the popular Friday movement and the university students’ demonstrations every Tuesday. According to Bengrina, the El Bina movement, which he heads, received information that data that turnout will be high on December 12 and among Algerian immigrants abroad. The candidates, who supported a few months ago the extension of Bouteflika’s term, face popular rejection. The most targeted by the movement are Tebboune, who was Prime Minister under Bouteflika in 2017, and former Minister of the National Community Abroad Belkacem Sahli. Sahli faces severe attack because he was one of the biggest enthusiasts of Bouteflika's candidacy for a fifth term, which was overthrown by the movement and led to his resignation on April 2. Meanwhile, masses of university students stormed the streets again to express their rejection of the election and demanded the regime's departure.

from Asharq AL-awsat https://aawsat.com/english/home/article/1968501/five-candidates-run-upcoming-presidential-elections-algeria