A Swiss Activist Stirs Up Trouble in Singapore

How the merger bid for a small, Shariah-compliant REIT became the subject of confrontational shareholder capitalism.

Singapore loves REITs. Photographer: Maverick Asio/SOPA/LightRocket/Getty
There’s a glitzy side of Singapore property: the cavernous shopping malls; the tall office buildings; the pricey condominiums; the luxury hotels; and the hospitals where rich Indonesians and Bangladeshis seek treatment and five-star customer service.
But there’s also a vibrant market at the non-sexy end of the spectrum: the warehouses, the factory sheds and, increasingly, the data centers. Their owners are industrial real estate investment trusts, which collect rent and pass it on to unitholders. It’s something that appeals to an aging population that values the certainty of dividends more than the headiness of growth.
Some landlords, like Mapletree Industrial Trust, command market prices twice their net asset values. Others, like Sabana Shari’ah Compliant Industrial REIT, or Sabana REIT, trade at a chronic discount. This column is about Sabana, and how it became a vehicle in a Swiss value investor’s campaign to make confrontational shareholder capitalism work in polite and obedient Singapore.
Sabana is among the smallest of Singapore REITs: Its 18 properties across the island-state add up to a little more than 4 million square feet. But it has historically had big problems of governance and performance. In 2017, Sabana scrapped a property purchase from its then sponsor under pressure from unitholders; the REIT manager’s chief executive officer quit.

Still, performance remained lackluster. In September 2018, Sabana agreed to sell a factory site for less than half its book value, but the buyer couldn’t secure regulatory approvals and abandoned the deal. The factory spent all last year earning nothing. A warehouse also became tenantless in the fourth quarter of 2019, shaving a few percentage points off the property owner’s low occupancy rate.
Some REITs Get All The Love
Singapore’s Sabana, a factory landlord, could never make a mark, either with tenants or with investors.
Source: Bloomberg
It was relief to unitholders when in June last year control passed to to ESR Cayman Ltd., a Hong Kong-based logistics firm that owned another industrial landlord in Singapore. ESR-REIT is nearly four times as big as Sabana. The change in ownership perked up the interest of Jan Moermann, a Swiss who’s acquired a reputation as an activist investor in Singapore. Assisted by its Malaysian-born, Singapore-citizen research head Havard Chi, Moermann’s Quarz Capital Management Ltd. was already building a stake because it believed Sabana had good properties that could be managed better.
Toward the end of last year, Moermann called on ESR Cayman to merge its two Singapore real-estate trusts. Both Sabana and ESR-REIT were competing in the same market for industrial property. Conflict was a possibility, even though the managers of the two trusts say they don’t share information on strategy or operations.
Moermann put a value of 54.5 Singapore cents ($0.4) apiece on Sabana shares in a cash-plus-stock deal. But when the all-stock merger with ESR-REIT was finally announced in July, each Sabana unit was implicitly judged to be worth less than 38 Singapore cents, way below the book value of 51 cents. “We’re not here to fight over who gets one more piece of salami on the pizza,” said Adrian Chui, chief executive officer of ESR-REIT. “We want the pizza to become bigger.”
The Sabana management has publicly said that swapping 100 units for 94 units of ESR is a fair deal. That’s nearly 12% more than what the trust’s investors would have got from the market on average in the two years prior to the announcement.
Fair Exchange?
Swapping 100 shares of Sabana for 94 of ESR is more than what unitholders would have got on average in the stock market — not of late, though
Source: Bloomberg
The question for unitholders isn’t so much whether ESR is a good home, but whether they can move in on better terms or aspire for a different sanctuary. Donald Han, the Sabana manager’s CEO, is right: Small in his business is unsexy. Even with low debt, the landlord can’t grow because most assets are already pledged. However, if ESR can secure cheaper refinancing for those properties, so can another strong owner. Now that Sabana is adding a 35,000-square-feet retail and F&B component to its flagship property, dropping the Shariah compliance tag to allow tenants that deal in alcohol or pork could also be of modest help.
Scouting for suitors from around the world after the Covid-19 travel restrictions end might throw up alternatives. Conversely, it’s also possible that the pandemic dislocation, combined with Singapore’s tightening restrictions on foreign workers, will erode the value of industrial properties, hurting Sabana unitholders if they hold out. Their portfolio is too small to afford the downtime involved in costly redevelopment.
Quarz and Hong Kong-based Black Crane Capital, which own 11% of the Sabana stock between them, are prepared to vote against the current offer when a shareholders’ meeting is called. They’re also asking the current Sabana management to leave if the merger fails.
In Singapore’s West-meets-East culture, people in positions of authority are rarely challenged so openly. Yet someone needs to do it. The chief of city’s Securities Investors Association invited the managers of the two merging entities and an analyst to discuss the deal. The moderation was courteous, and the participants agreed on everything.
How can there be a market without disagreement? Thanks to Moermann’s activism, the Monetary Authority of Singapore got involved to give its views on resolving conflict in situations where competing REITs are under single control. Mak Yuen Teen, a Singapore business professor, questioned the independence of a director on the Sabana manager’s board, drawing a reply.

“We try to make our criticism as constructive as possible,” says Moermann. “From the point of view of unitholders, this merger is not a necessity at all.”

The pandemic will leave a long shadow on rents and interest rates. This matters for Singapore, where every third dollar changing hands on the local exchange is because of buying or selling in a REIT. With all the uncertainties of the post-Covid economy, the least investors expect is that someone shine a light on their behalf, not just in gleaming storefronts and condominiums, but in gloomy warehouses and factory yards. For now, that job has gone to a foreigner.
(For more on the Quarz-Black Crane campaign, and the Sabana manager’s response, click here and here.)
This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

A living room with a view. Photographer: Nicky Loh/Bloomberg
Something big is missing from Singapore’s picturesque and impeccably maintained highway linking downtown with Changi A¬irport: traffic.
The collapse in international travel has hit the city-state especially hard. Borders are shut to tourists and much of Singapore Airlines Ltd.’s proud fleet is mothballed. The idea of “flights to nowhere” had even been floated — effectively three-hour sight-seeing trips that would be bundled with staycations, shopping vouchers and limousine services. Now that has been scrapped for a plan to serve lunch aboard a grounded jumbo jet, a tour of the carrier’s training facilities and home delivery of first- and business class meals.

The ability to get in and out of a nation that takes about 30 minutes to traverse has been a big draw for the more than one million expatriates who live here. Non-Singaporeans make up more than half of senior management roles in financial services. The idea of being stuck flying in circles has many rethinking the informal bargain they’ve struck with the city they call home. A big part of that was the opportunity to work in a dynamic region and experience diverse cultures and nations for a few years. In return, Singapore got talent, industrialization and unique ties to global networks, vital for a country without a hinterland or natural resources.
Singapore’s modus operandi has been to make itself a base camp for global capitalism and the people who make it tick. Lee Kuan Yew, the country’s first leader, laid out the welcome mat for multinational corporations: first for textiles, ship maintenance and petrochemicals, then for electronics, tourism and finance. Changi Airport, top-notch public transport, a commitment to education, and political stability made the city an appealing place to live. Relatively low tax rates only sweetened the deal (except for Americans, who need to pay income tax no matter where they live).

Now Lee’s vision is running into the wall of Covid-19. Singapore’s economy shrank a record 42.9% on an annualized basis in the second quarter from the previous three months, the deepest economic contraction since independence in 1965. While data point to a bounce before year-end, the government projects gross domestic product to decline as much as 7% in 2020. This has sharply refocused public discourse. Opportunities for locals are the priority.
When companies do pare headcount, they are prevailed upon to keep Singaporeans at the core of their staffing. Local press reports of legislative proceedings highlight references to a closely held list of firms on a watch list for their hiring practices. Banking and finance has fallen under heightened scrutiny. The government, which lost seats to the opposition in July’s general election, has tightened rules around employment visas for foreigners by raising minimum salaries twice this year. Figures released last week showed Singapore’s population fell slightly to 5.69 million in the year through June, the first drop since 2003. Work permit holders saw the largest decrease.
“We cannot sustain our openness if we do not provide enough opportunities for our own people,” Senior Minister Tharman Shanmugaratnam told the Singapore Summit on Sept. 14. “It is not socially or politically sustainable. No society can be blindly open.”
Singapore is slowly cranking back to life after a strict lockdown. Throngs pulse through malls and hawker centers in suburbs of central Singapore. Subway trains are often full. A pilot scheme for international executives to travel in the region — under a strictly controlled itinerary and subject to Covid testing — is in the works. Children under six are no longer required to wear a mask.
But while the government will allow more people into their offices, work-from-home remains the default. As long as that’s the case, and the airport remains effectively a no-go zone, the more folks realize they don’t actually need to be in Singapore to do their jobs. If teams across Asia can be managed by Zoom from the living room, then that living room could be anywhere.
This realization is crystallizing as the headlines splashed across Singapore’s major English-language newspaper, the Straits Times, openly debate the role foreigners play in the economy. Far from feeling welcome, expats now spend a lot of time looking over their shoulders. Employers are quietly urging them to avoid anything that might attract attention.
That’s left many wondering whether uprooting their families has been worth it. You don’t have to come to Singapore for the privilege of getting laid off. Schools fret about families packing up. And those regional offices executives are sent here to run? They need to be able to get into them.

The caricature of the European sipping a gin and tonic under a shady tree with rent and school fees taken care of, pampered by maids, is woefully out of date. Relatively few employers these days pick up the tab for housing and tuition. Relocation company staff say the glory days of the expat packages ended with the global financial crisis. With economic warfare raging between China and the U.S., and fashionable talk about the world dividing into rival blocs, is an Asian experience still the resume booster it once was? A gig here feels no more secure than one at home.

As a 10-year-old boy, the flight returning to Australia from a family vacation in Europe stopped at the old Paya Lebar airport; I remember taking in the exotic night smells and marveling at the lights of hundreds of ships anchored just offshore. As a newly minted college graduate, Singapore was my first stop on a cross-Asia trip. Living in Malaysia in the late 1990s, visits to the city-state were a balm for the haphazardness of Kuala Lumpur. I returned with a young family last year. We pay taxes, live in a middle-class neighborhood and, through our spending, try to support the economy. I hope the shatter zone of the pandemic isn’t the end of our journey together.

For Full Information, You Can Visit!

 

 

%%footer%%

Microsoft announces plans for first datacenter region in Greece as part of “GR for GRowth” digital transformation initiative – Microsoft News Centre Europe

Microsoft will accelerate digitization of the public sector and businesses with access to local cloud services and skill a minimum of 100,000 people in Greece in digital technologies

ATHENS, Greece – October 5, 2020 – Microsoft Corp. announced today its “GR for GRowth” initiative, a significant technology commitment to support the people, government and businesses of all sizes in Greece with technology and resources to create new opportunities for growth. As part of the plan, Microsoft announced its intent to build new datacenters that will establish a Microsoft Cloud region in the country, adding Greece to the world’s largest cloud infrastructure footprint and delivering access to low-latency, enterprise-grade cloud services. To support citizens in both professional and personal ambitions, Microsoft also announced its plan to skill approximately 100,000 people in Greece in digital technologies by 2025.
Microsoft President Brad Smith made the announcement at the New Acropolis Museum alongside Kyriakos Mitsotakis, Greece Prime Minister, and Theodosis Michalopoulos, General Manager of Microsoft Greece, Cyprus and Malta.
“Today’s commitment to the people and businesses of Greece will position the country among the digital leaders of Europe. A Microsoft datacenter region provides a competitive advantage to our digital economy. At the same time, it is a long-term investment and a vote of confidence in our country’s potential. The cloud is transforming every industry and sector. The investment in skilling 100,000 citizens will empower today and tomorrow’s Greek workforce,” said Prime Minister of Greece, Kyriakos Mitsotakis.
“By a substantial margin, this is the largest investment Microsoft has made in Greece in the 28 years we have been operating here. In part, this reflects confidence that our world-leading datacenter technology can help enable innovation and growth across Greece’s economy. In addition, this large investment reflects our optimism about Greece’s future, its forward-leaning government, and the country’s ongoing economic recovery,” said Brad Smith, President, Microsoft.
“Microsoft has a rich 28-year history in Greece with a growing ecosystem of 3,000 partners and customers, including startups, enterprises and NGOs. Today, with plans for Microsoft’s first datacenter region in the country and the holistic ‘GR for GRowth’ plan, we are building on this work, leveling up our contribution to the country’s economy. Our commitment is to be a technology ally in driving growth, now and for the generations to come for our country,” said Theodosis Michalopoulos, General Manager of Microsoft Greece Cyprus and Malta.

https://bit.ly/2GAuoR3o

Delivering the Microsoft Cloud in Greece
Today’s announcement will pave the way for local companies, startups and institutions to fully utilize the potential of cloud computing, while maintaining the highest cybersecurity, data residency and compliance standards.
The Greece datacenter region will join Microsoft’s global footprint of cloud regions, now totaling 63 regions announced, with Microsoft Azure available in over 140 countries, and will provide companies local access to Microsoft’s full set of cloud services, all built on a foundation of trust:
• Microsoft Azure: An ever-expanding set of cloud services that offers computing, networking, databases, analytics, AI and IoT services.
• Microsoft 365: The world’s productivity cloud that delivers best-of-breed productivity apps integrated through cloud services and delivered as part of an open platform for business processes.
• Dynamics 365 and Power Platform: The next generation of intelligent business applications that enable organizations to grow, evolve and transform to meet the needs of customers and capture new opportunities.
• Compliance, security and privacy: Microsoft offers more than 90 certifications and spends $1 billion every year on cybersecurity to address security at every layer of the cloud. Microsoft’s Greece datacenter region will help companies comply with the European Union’s General Data Protection Regulation (GDPR), and will also help customers store data at rest in Greece.
• Sustainably operated: As part of Microsoft’s global commitment to be carbon negative by 2030, the company will shift to 100 percent supply of renewable energy for its datacenters by 2025.
Accelerating digital transformation and innovation
Leading companies of Greece are already using Microsoft’s cloud to ensure their seamless operation, optimize their processes and increase customer satisfaction through advanced collaboration and cloud development services. Today, we are proud to announce that Alpha Bank, Eurobank, National Bank of Greece, OTE Group, Piraeus Bank, Public Power Corporation (DEI) have all expressed their intent to use the Microsoft Cloud services when available from the new region in Greece.
In addition, Microsoft’s cloud services will play a key role in creating new ways to digitally preserve, celebrate and experience the culture of Greece. As part of Microsoft’s AI for Cultural Heritage program, the company is collaborating with the Ministry of Culture and Sports to bring the Ancient City of Olympia to life using artificial intelligence and other technologies. The immersive, 3D presentation of the monuments and artifacts will give people around the world the opportunity to experience them as they were nearly 3,000 years ago. The project has been approved by the Archaeological Council (KAS) and will be available in 2021.
Skilling Greece’s workforce of tomorrow
The final pillar of today’s announcement is Microsoft’s plan to expand employment opportunities for local professionals and youth over the next five years. Microsoft aims to boost the digital competencies of an estimated 100,000 public sector, business and IT professionals, educators, and students to support the digital transformation of public and private organizations. This ambitious goal will be achieved over the next five years, through a three-pronged skilling program that includes online and physical courses and workshops:
• The broad and dedicated upskilling of Microsoft’s customer and partner ecosystems.
• The launch of a new skilling initiative in collaboration with the government especially designed for the civil servants covering the public-sector needs of modernization and digitization.
• Expansion and further investment in the existing programs with ReGeneration focusing on youth, unemployed and underserved communities, leveraging LinkedIn Learning, MS Learn and GitHub training programs.
Microsoft’s “GR for GRowth” initiative is a significant step for Greece, with technology as a catalyst for growth, providing people and businesses the tools and expertise to thrive and innovate in the digital era

For Full Information, You Can Visit!

 

By Bill Gates – A hero in the fight against the world’s longest-running pandemic

While all of us are focused on the COVID-19 pandemic, it’s easy to forget about the world’s longest-running pandemic—cholera. Over the last 200 years the deadly diarrheal disease, which thrives in areas without safe water and sanitation, has killed millions of people. The current cholera pandemic—the world’s seventh—started in 1961, spreading from South Asia to Africa and the Americas. Every year, cholera outbreaks around the globe affect about 4 million people and lead to as many as 130,000 deaths.
An affordable, effective, and safe oral cholera vaccine, however, is proving to be a game changer in the fight against this often-forgotten disease. Thanks in large part to recent cholera vaccination campaigns, the number of cholera cases decreased globally by 60 percent in 2018, according to the World Health Organization. Though 2019 saw an increase in cases, the total number of cholera deaths fell by 36 percent.
This breakthrough has been the life’s work of Dr. Firdausi Qadri, an immunologist and infectious disease researcher in Bangladesh. For the last 25 years, Dr. Qadri has been one of the few people advocating for an affordable vaccine to protect entire communities from cholera epidemics.

https://bit.ly/2SViWSF.
While there have been several cholera vaccines since the late 19th century, they were expensive and in short supply. In the early 2000s, the main cholera vaccine available was largely used by travelers from rich countries and was not practical for use in vaccination campaigns of poor communities at risk of the disease.
In 2011, Dr. Qadri and her team at the International Centre for Diarrheal Disease and Research, Bangladesh (icddr,b) led a feasibility study on a newer, more affordable oral cholera vaccine, Shanchol. The study, which was done in partnership with our foundation, showed that the inexpensive vaccine could be an effective tool in stopping the spread of cholera in poor, urban environments, giving people more than 50 percent protection against the disease.
Dr. Qadri’s study—the largest trial of its kind—helped lead to a complete change in thinking about how the world could tackle the challenge of cholera. “You can have very good water, sanitation, education, good homes and people won’t have cholera. But until that happens, you need to stop the misery. You need to control the disease,” Dr. Qadri said. “And the vaccine is a one-stop solution.”
To be sure, access to clean water and sanitation are still critically important for controlling cholera in the long-term. During the 19th century, as cholera spread around the world from its original reservoir in India, outbreaks were eventually brought under control in America and Europe through huge investments in water and sewer systems. And work continues to improve access to clean water and sanitation in low-income countries. But infrastructure improvements can be expensive and take time to build and maintain. Cholera vaccination campaigns provide an important tool to save lives immediately and buy time for communities to pursue longer-term water and sanitation solutions.
In 2013, the WHO helped create an oral cholera vaccine stockpile, to contain and prevent outbreaks. Since then, more than 60 million doses have been shipped worldwide. In addition to Shanchol, a second affordable cholera vaccine, Euvichol, is now available, helping to increase vaccine supplies. Gavi, the Vaccine Alliance, is supporting countries to use the cholera vaccine to target cholera “hotspots”—areas at highest risk—to prevent outbreaks before they happen.
This preventive approach will be even more critical in the years ahead because climate change, urbanization, and population growth create ideal conditions for the spread of cholera. Humanitarian crises are also a breeding ground for the disease. The civil war in Yemen, for example, has led to the largest and fastest-spreading cholera outbreak in modern history, infecting millions and killing more than 3,000 people since 2016.
Still, progress is being made. In Bangladesh, the arrival in 2017 of nearly one million Rohingya refugees from Myanmar into overcrowded camps raised concerns about a cholera epidemic. Working with the government, Dr. Qadri led a vaccination program that has helped prevent an outbreak.
“If this vaccination was not carried out, there would be chaotic conditions,” Dr. Qadri said. “We were able to prevent a major, major epidemic and deaths.”
Successes like this have helped fuel new optimism in the fight against cholera. The Global Task Force on Cholera Control, hosted by the World Health Organization, is a partnership of more than 50 institutions all working together to end cholera. The task force’s strategy aims to reduce cholera deaths by 90 percent by 2030, and eliminate cholera in 20 countries, targeting areas where the disease is endemic and shifting from outbreak response to outbreak prevention.
Thanks to the pioneering work of Dr. Qadri, the world is making progress toward this goal. And maybe someday cholera will be a disease that can truly be forgotten.

For Full Information, You Can Visit!

 

 

About – Inhibiting Ebola virus and SARS-CoV-2 entry

  • O

The mechanisms by which cells defend against many viruses remain largely unknown. Defining these mechanisms is important not only for understanding viral pathogenesis but also for informing the development of antiviral therapeutics. The concerted efforts of antiviral factors within cells are central to host cell defense. Without these factors, the cell remains defenseless against potentially harmful pathogens. Understanding how the cell defends itself is particularly important for viruses that have the potential to affect global health, such as Ebola virus (EBOV) and severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). On page 241 of this issue, Bruchez et al. (1) developed a transposon screening approach in a human osteosarcoma cell line to identify a mechanism by which CD74, previously only associated with antigen presentation, directly inhibits EBOV and SARS-CoV-2 entry into host cells.

Ebola virus cell entry Normal cellular entry (left) of Ebola virus (EBOV) involves binding to cells expressing DC-SIGN (dendritic cell–specific ICAM-3–grabbing non-integrin 1) and TIM1 (T cell immunoglobulin mucin receptor 1), macropinocytosis, and cathepsin-mediated cleavage of the viral glycoproteins. Together with NPC1 (Niemann-Pick C1), glycoprotein cleavage allows fusion with endosomal membranes and genome release into the cytoplasm. However, CIITA (class II major histocompatibility complex transactivator) up-regulates the CD74 p41 isoform, which inhibits cathepsins and prevents genome release into the cytoplasm (right). GRAPHIC: KELLIE HOLOSKI/SCIENCEViruses must gain entry into the host cell to replicate. In the case of EBOV, an enveloped virus, virions are internalized by macropinocytosis . Once virions reach endosomes, host cathepsin proteases cleave viral glycoproteins. The glycoproteins then fuse with the lysosomal membrane, which is followed by release of the viral genome into the host cell cytoplasm, where viral replication can occur (2). Thus, cathepsin-mediated cleavage is a critical step in the entry of many enveloped viruses, including EBOV, into the host cell.

Similar to EBOV, coronaviruses, including SARS-CoV-2, are enveloped viruses that undergo a series of entry steps culminating in genome release. Coronavirus entry also requires delivery of incoming viral particles to host lysosomes, where the coronavirus spike protein is cleaved by cathepsins to facilitate fusion between virus and host membranes (3, 4). However, in contrast to EBOV, SARS-CoV-2 also requires the activity of transmembrane serine protease 2 (TMPRSS2) to prime the viral spike protein (5). Thus, despite their differences in size and shape, EBOV and SARS-CoV-2 rely on similar proteolytic processes to gain entry into a target cell.
Bruchez et al. used a transposon screen in which transposable elements were inserted in front of or within genes. This approach allowed for tandem gene activation and inactivation in a single screen. To identify host factors involved in EBOV infection, the authors infected these cells with EBOV and identified two main “hits,” including Niemann-Pick C1 (NPC1), an intracellular EBOV receptor that is required for entry, thus validating the approach (6). NPC1 is a cholesterol transporter in the lysosome and is essential for EBOV fusion of the glycoproteins with the lysosomal membrane and subsequent genome release.
Additionally, the authors found that activation of the transcription factor major histocompatibility complex (MHC) class II transactivator (CIITA) inhibited EBOV infection. CIITA is a nucleotide-binding oligomerization domain–like receptor (NLR). Typically, NLRs detect pathogen-associated molecular patterns (PAMPs) within the cell and trigger an intracellular antimicrobial signaling cascade leading to nuclear factor-κB (NF-κB) nuclear translocation and expression of various proinflammatory cytokines. Unlike most NLRs, CIITA acts mainly as a transcription factor to promote the expression of other genes, including serving as the master regulator of MHC gene expression. MHC presents peptides from either intracellular (MHC class I) or extracellular (MHC class II) proteins to adaptive immune cells. CIITA induces the expression of MHC class II genes to initiate antigen presentation. The authors determined that expression of CIITA was specifically associated with inhibition of cell entry by EBOV, thus defining the step of the viral life cycle that CIITA inhibits (see the figure).
Bruchez et al. identified CD74 as the CIITA-controlled host factor responsible for inhibiting EBOV entry. CD74, often called the invariant chain or Ii, is enriched in immune cell populations and associates with MHC class II. It localizes to endoplasmic reticulum (ER) membranes and facilitates MHC class II export from the ER to vesicles that fuse with the late endosome, resulting in trafficking to the cell surface (7). CD74 also blocks the peptide-binding groove so that MHC molecules do not bind peptides prior to trafficking. Thus, without CD74, MHC class II molecules are not properly processed, and antigen presentation becomes impaired.
Bruchez et al. show that the thyroglobulin domain of CD74 is required for its antiviral activity. This domain inhibits cathepsins (8). CD74 has four isoforms but only two of them, p41 and p43, have the thyroglobulin domain. The authors show that the p41 isoform is responsible for the antiviral activity of CD74 against EBOV entry and inhibits SARS-CoV-2 fusion, suggesting a broad antiviral activity of CD74 against many cathepsin-dependent viruses. These findings highlight the often shared strategies of distinct viruses that are co-opted from host cells to promote cell entry.
These findings suggest that molecules involved in antigen presentation could also possess direct antiviral activity and that other factors with defined functions may possess additional roles in antiviral immunity. CIITA activates antiviral factors that inhibit a broad range of viruses, such as human T cell leukemia virus type 2 (HTLV-2) (9), although the steps of the viral life cycle that it targets differ from those for EBOV and SARS-CoV-2. During HTLV-2 infection, CIITA acts more directly and inhibits the viral transactivator protein (TAX2), which promotes transcription of the viral genome and thus directly inhibits HTLV-2 replication (9). Some viruses have evolved mechanisms to inhibit this restriction. For example, Epstein-Barr virus (EBV), an oncogenic DNA virus, encodes Zta, a protein that directly inhibits CIITA and results in down-regulation of MHC class II molecules. This potentially allows EBV to escape recognition from the immune system (10).
The identification of host factors that could be targeted therapeutically to limit the replication of broad families of viruses may be an effective approach to combat viral-mediated disease. However, the therapeutic benefits of viral entry inhibitors are likely most effective prior to the onset of symptoms and the development of disease, given that by these stages, viral particles have already gained entry into the cell and begun to efficiently replicate.

For Full Information, You Can Visit!

 

 

About – Top 45 Modern Partition Wall Ideas – Engineering Discoveries

Even with an open-concept design for your home, zoning of space is necessary for some order. The key is designing partitions that do not totally cut off individual spaces but allow continuity throughout. Go for customized structures with designs that don’t look bulky or rigid, allow light to pass through and let you see through them. Make sure they look good — bear in mind overall proportion to the surroundings — and are functional too, to make the most of your space.

For Full Information, You Can Visit!

 

Artificial Intelligence, Marketing And Social Community

Self-driving cars … Siri personal assistant … chess master IBM Watson. These are just a few of the things that come to mind when we think about artificial intelligence (AI). AI is the buzzword that seems to be on everyone’s lips.
There’s virtually no business or industry, or consumer for that matter, that isn’t confronting the impact of AI today. To some, AI signals a utopian future, while others foresee a dystopian nightmare coming to control us all.
But before you try to ignore AI or run for the hills for fear your job is on the line, let’s dig a little deeper.
Fact: AI is transforming business operations and increasingly becoming our interface with technology. At the same time, we’re a long way from it taking over our lives. As IBM software engineer Frederick P. Brooks, Jr. wrote, “There is no single development, in either technology or management technique, which by itself promises even one order of magnitude improvement within a decade in productivity, in reliability, in simplicity.”
What we are seeing, however, is a new generation of technology that is bringing greater insight and productivity to marketing and sales and a heightened experience for customers.
If you’re sitting on the fence, consider that Salesforce’s State of Marketing reports that marketers—your competition—are embracing AI-based applications and technologies.
Gartner confirms this, projecting that 30% of companies around the world will be using at least one AI-based sales application by 2020. And if you need more inspiration to act, Forrester Research estimates that data-driven insights will enable businesses to attract $1.2 trillion AWAY from companies not yet using AI.
AI can revolutionize your marketing efforts…you just need to know how to use it. This guide to marketing AI for dummies can help.
How AI Works
Quite simply, AI is a set of algorithms designed to mimic some level of human function and intelligence. What elevates AI above a typical computer program is that, like us, AI is adaptive and capable of learning by storing millions of associations, patterns and concepts.
AI’s ability to process the variety and volume of data that swamps companies has the potential to free the human mind to focus on the big picture.
By using neural networks for dynamic pattern matching and to perform intelligent searches, AI processes data quickly and makes sophisticated associations. Natural language processing opens the door to systems being able to work with more complex data. And machine-learning algorithms are the predictive power behind AI, enabling systems to make decisions without being programmed to do a specific task.
For marketers and sales reps, AI is like having a virtual assistant that can take on routine processes, performing them quickly, reliably and indefinitely. These algorithms enable AI to learn by doing, problem solve and reason the best way to complete a task.
How AI Is Changing Marketing
Even as AI-based technologies continue to grow, the tools and applications are already streamlining sales and marketing. Here are just a few of the ways departments are using AI.
Social Media: AI systems are helping companies get the most out of their social media efforts by identifying the types of graphics that grab the attention of their target audience. Systems screen tens of millions of images posted on social media and analyze what people are watching most.
Marketing Automation: While most marketers are using some level of automation, they’ve had problems tying different tools and platforms together into a seamless system. AI is helping to provide the connections and transitions necessary to create a cohesive solution that moves critical information through the sales cycle.
Personalization: It’s one thing to send a personalized email; it’s quite another to deliver automatically exactly the right information to the right person at the right time throughout the sales cycle. AI-based chatbots are one way that companies are upping their customer and prospect relationships 24/7. Programmatic media buying is another. It automates media buys for marketers while delivering to customers the content they want to see.
Predictive Lead Scoring and Account Prioritization: Working with massive amounts of data on past sales and existing customers, AI-based lead scoring can identify the criteria that best define a high-priority lead. Similarly, AI can prioritize accounts based on a company’s ideal customer profile and a prospect’s propensity to buy.
Predictive and Prescriptive Analytics: It’s one thing to have lots of data; it’s another to be able to process it and know what it’s telling you. While companies have had tools that help the decipher what people did, they’re only beginning to use that same data to predict what customers will do. And now, with AI-based analytics, they have the potential to act on the predictions and find the best course of action to achieve the desired outcome.
As sales and marketing departments rush to embrace AI, don’t be left behind. Don’t let the competition get the edge on your business. Take the lead by becoming not merely more predictive in your decision making but also more prescriptive in reaching your desired outcomes. At the same time, free up your best sales and marketing people to do the work only they can do best.
These knowllidge together can be successfully implemented by Democratic Social Economy, a multi-million member social community around the world. The platform of this community stimulates the creation of Business for each member and at the same time, harmonizing the interests, creates the conditions for a comprehensive and successful business cooperation for each member.

Democratic Social Economy & Business

http://bit.ly/2PhhTLP

http://bit.ly/2PhhTLP

Become a Great Sales Manager And Social Community

The lifestyle of the committed salesperson can be hectic and stressful. Luckily, there’s someone to help create order out of the chaos.
Selling has been at the core of human work since the dawn of our current social epoch. The rapid expansion of technology that has characterized our particular chapter of this long history has brought unprecedented interconnectivity and communication. With this, the role of sales personnel in most organizations has transmuted far beyond the roaming product haulers of yesteryear. New tools have enabled countless leads to be tracked with the click of a button. The stakes have never been higher, and neither have the profits.
It takes an effective sales manager to truly unleash the potential of our digital age.
What is a sales manager?
A sales manager is a member of an organization who is responsible for guiding a team of other salespeople. Similar in practice to that of a BDR manager, their work is done less with client calls and more with team meetings and documents that outline goals, vision, and organization for their direct reports.
How many hours do sales managers work in a week?
Due to the high amount of responsibility that sales managers have on ensuring that core business functions are being executed, sales managers should expect to work more than forty hours a week, sometimes out of normal working hours.
If upper management composes the score, it’s the sales manager that conducts the orchestra on how best to execute the company’s vision. This requires sales managers to have a strong sense of entrepreneurship in order to help them find the best methods possible to execute on the roadmap laid down by the company leaders.
Sales manager responsibilities
The responsibilities held by a sales manager can vary wildly depending on the size or type of organization they work for. Despite this, most sales managers will be involved in a few of the same sorts of tasks regardless of where they land.
These knowledge, together can be successfully implemented by Democratic Social Economy, a multi-million member social community around the world. The platform of this community stimulates the creation of Business for each member and at the same time, harmonizing the interests, creates the conditions for a comprehensive and successful business cooperation for each member.

Democratic Social Economy & Business

http://bit.ly/32KHxff

http://bit.ly/32KHxff