ABU DHABI // Researchers are "on the right track" in their search for a cure for diabetes, the 1985 Nobel Laureate for medicine told an audience in the capital yesterday.
"The possibility that there would be a cure to diabetes came from observing diabetics who underwent gastric bypass surgery designed to get them to lose weight," Dr Michael Brown said.
Patients with type 2 diabetes who had the operation typically lost more than 61 per cent of their body weight, he said. But in most cases - 84 per cent - their diabetes went into remission even before they had lost weight.
The reason, researchers believe, is that the surgery bypasses the part of the intestine that causes the body to "think" it has received food. This causes it to believe the patient has not eaten at all, which triggers the production of a hormone. The hormone goes to the muscles and tells them to help insulin burn sugar.
According to Dr Brown, this "gut hormone", which stops the production of fat and promotes the burning of sugar, would make a good treatment for diabetes.
Dr Brown was speaking at the Breakthrough in Diabetes conference organised by the Higher Colleges of Technology (HCT) and Invest AD.
He is chairman of the scientific advisory board of NGM Biopharmaceuticals, which is looking into ways to recreate the physiological effects of weight-loss surgery on patients with diabetes, but without them having to undergo the surgery.
Dr Alex DePaoli, the vice president of clinical research at the company, said scientists now understood diabetes to the point where remission was possible, if not yet a cure.
"The scope of the problem is particularly problematic in the Middle East, where five of the top 10 nations in the world known to have the highest prevalence of type 2 diabetes are in the Gulf region," he said.
At the Abu Dhabi Medical Congress (ADMC), which concluded yesterday, Dr Amir Nikousokhan-Tayar, chairman of the International Diabetes Federation in the Middle East and North Africa and managing director of the Iranian Diabetes Society, said that of the 285 million people in the world with diabetes, 26.6 million were in the Middle East. That number is expected to rise to 51.7 million by 2030.
He said more than US$5.6 billion (Dh20.6bn) was spent in the region on treating diabetes.
"The future for our region is a catastrophe, especially considering that the mean health expenditure per patient in the UAE - $1,067 - is very low compared with the huge numbers of diabetics."
Dr DePaoli also stressed that type 2 diabetics in the UAE tended to be younger than elsewhere. "At the age of 50, the population has more than a one of two chance of having type 2 diabetes. This is a truly alarming rate and absolutely demands attention.'
Dr Brown said this younger incidence could mean a financial nightmare in the future.
"The UAE has such a high incidence of diabetes, and you will see a huge increase in your healthcare costs as this cohort of people with diabetes begins to get older and older and reach the ages when diabetes complications set in," he said.
It is "essential to find some way to treat this epidemic", he said, before the likely surge in blindness, kidney disease, amputations, heart attacks and strokes.
Diet and exercise have been lauded as vital treatment for diabetics, but with lifestyle changes hard to commit to, medication is still essential, doctors said.
However, medication works modestly and is not a long-term cure, Dr DePaoli said. There are also side effects. "Something more is needed," he said.
At ADMC, Dr Maha Barakat, medical and research director and consultant endocrinologist at Imperial College London Diabetes Centre in Abu Dhabi, said that although diabetes can be prevented in 58 per cent of people who change their lifestyle, slimmer people are not exempt from the disease.
Dr Nikousokhan-Tayar also announced a Middle East and Northern Africa Leadership Forum, due to take place in Dubai in December. It will bring together about 600 experts to discuss diabetes.
hkhalaf@thenational.ae
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In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
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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
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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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