Carbapenem-resistant Acinetobacter baumannii is the top-ranked pathogen in the World Health Organization priority list of antibiotic-resistant bacteria. It emerged as a global pathogen due to the successful expansion of a few epidemic lineages, or international clones (ICs), producing acquired class D carbapenemases (OXA-type). During the past decade, however, reports regarding IC-I isolates in Latin America are scarce and are non-existent for IC-II and IC-III isolates. This study evaluates the molecular mechanisms of carbapenem resistance and the epidemiology of 80 non-duplicate clinical samples of A. baumannii collected from February 2014 through April 2016 at two tertiary care hospitals in Lima. Almost all isolates were carbapenem-resistant (97.5%), and susceptibility only remained high for colistin (95%). Pulsed-field gel electrophoresis showed two main clusters spread between both hospitals: cluster D containing 51 isolates (63.8%) associated with sequence type 2 (ST2) and carrying OXA-72, and cluster F containing 13 isolates (16.3%) associated with ST79 and also carrying OXA-72. ST2 and ST79 were endemic in at least one of the hospitals. ST1 and ST3 OXA-23-producing isolates were also identified. They accounted for sporadic hospital isolates. Interestingly, two isolates carried the novel OXA-253 variant of OXA-143 together with an upstream novel insertion sequence (ISAba47). While the predominant A. baumannii lineages in Latin America are linked to ST79, ST25, ST15, and ST1 producing OXA-23 enzymes, we report the emergence of highly resistant ST2 (IC-II) isolates in Peru producing OXA-72 and the first identification of ST3 isolates (IC-III) in Latin America, both considered a serious threat to public health worldwide. / This study was supported by Cienciactiva of CONCYTEC, contract no. 164-2016-FONDECYT; Planes Nacionales de I+D+i 2008-2011/2013-2016, Instituto de Salud Carlos III, Subdirección General de Redes y Centros de Investigación Cooperativa, Ministerio de Economía y Competitividad, Spanish Network for Research in Infectious Diseases (REIPI RD12/0015/0013 and REIPI RD16/0016/ 0010); the 2017 call for Strategic Action on Health (PI17/01932), co-financed by European Development Regional Fund “A way to achieve Europe” and operative program Intelligent Growth 2014-2020; and grant 2014 SGR 0653 from the Departament d’Universitats, Recerca i Societat de la Informació, of the Generalitat de Catalunya. I.R. was supported by the Department of Health, Generalitat de Catalunya, grant SLT002/16/00349. Part of these data have been presented as a poster communication at the 18th International Congress on Infectious Diseases, 3–4 March, 2018, Buenos Aires, Argentina, and at the XXVIII-European Congress of Clinical Microbiology and Infectious Diseases (ECCMID), Madrid (Spain), 21–24 April, 2018 / Revisión por pares

No description available.

No description available.

The diploma thesis deals with vehicle movement dynamics and defining a theoretical model for software simulation of vehicle passing a given trajectory, while main aim is time minimization driving mode. Simulation (algorithm for computing speed profile) is then applicated for passing experimental vehicle along Masaryk circuit in Brno. At the end, we optimize chosen vehicle parameters with derivate-free algorithms Multilevel Coordinate Search and Particle Swarm.

Yes / A series of novel nopyl-derived chiral phosphonium ionic liquids have been successfully synthesised and characterised. Analysis of each novel ionic liquid was conducted in order to confirm structure, purity and thermal stability.

Thesis (MBA)--Stellenbosch University, 2002. / ENGLISH ABSTRACT: Tax policy makers in South Africa have to a large extent neglected the tax treatment of derivative instruments. The Income Tax Act, No. 58 of 1962, currently only takes into account three types of financial arrangements that can be classified as being derivative in nature: forward exchange and option contracts relating to foreign exchange, interest rate swaps based on notional capital amounts and option contracts. Although the Commissioner for Inland Revenue has appointed a number of internal working committees to research this area of the law, the legislation resulting from these efforts has been piecemeal in nature, dealing only with limited aspects of the taxation of a few specific transactions. Due to the lack of specific legislative provisions regulating the tax aspects of derivatives, the general principles of South African income tax law have to be applied to these instruments. This leads to imprecise and inconsistent results, primarily due to the development of these principles long before the widespread use of derivatives in sophisticated and complex transactions. The taxation of transactions involving derivative instruments is becoming a subject of increasing practical importance in South Africa due to the number of derivative transactions escalating in quantity. The introduction of capital gains tax in South Africa has added yet a further dimension to the taxation of derivatives. In light of the increasing volume and value of derivative transactions entered into by South African taxpayers, it is imperative that clarity regarding the taxation of these transactions be reached as soon as possible. Any reform and revised tax rules which is made applicable to these instruments, need to be very flexible, as further developments in the financial instrument environment are extremely dynamic and almost changing by day. It is furthermore important that the South African tax system keeps track with international developments to enhance the countl-y's trading status and to ensure that cross border transactions do not have anomalous conseq Llences, especially for foreign counter-parties. / AFRIKAANSE OPSOMMING: Belastingbeleidmakers in Suid-Afrika het tot 'n groot mate die belastinghantering van afgeleide instrumente verwaarloos. Die Inkomstebelasingwet, No. 58 van 1962, neem tans slegs drie soorte finansiele ooreenkomste wat as afgeleide instrumente geklassifiseer kan word, in aanmerking: termynwissel- en opsiekontrakte met betrekking tot buitelandse valuta, rentekoers ruilkontrakte gebaseer op denkbeeldige kapitaalbedrae en opsiekontrakte. Alhoewel die Kommissaris van Binnelandse Inkomste 'n aantal interne werkskomitees aangestel het om ondersoek in te stel na hierdie afdeling van die reg, is die wetgewing wat voortgespruit het as uitvloeisel van hierdie pogings broksgewys van aard deurdat dit slegs met beperkte aspekte van die belasbaarheid van 'n aantal spesifieke transaksies gehandel het. Vanwee die gebrek aan spesifieke wetgewende bepalings wat die belastingaspekte van afgeleides reguleer, moet die algemene beginsels van die Suid-Afrikaanse inkol11stebelastingreg toegepas word op hierdie instrumente. Dit gee aanleiding tot onnollkeurige en teenstrydige resllltate, hoofsaaklik omdat hierdie beginsels reeds lank voor die wydverspreide gebruik van afgeleides in gesofistikeerde en ingewikkelde transaksies ontwikkel het.- Die belasbaarheid van transaksies waarby afgeleide instrumente betrokke is, is 'n onderwerp van loenemende praktiese belang in Suid-Afrika vanwee die styging in die aantal transaksies in afgeleides. Die inwerkingstelling van kapitaalwinsbelasting in Suid-Afrika het nog 'n verdere dimensie aan die belasbaarheid van afgeleide instmmente toegevoeg. lndien aggeslaan word op die toename in die aantal en waarele van transaksies in afgeleiele instrllmente wat deur Suid-Afrikaanse belastingbetalers aangegaan word, is elit noodsaaklik clat ciuidelikheid rakencle ciie belasbaarheid van hierdie transaksies so spoedig doenlik verkry word. Enige hervOiming en hersiende belastingreels wat van toepassing gemaak word op hierdie instrllmente, moet baie buigsaam wees aangesien verdere ontwikkelings in die finansieie instrumente-omgewing uiters dinamies is en bykans daagliks verander. Dit is vnorts belangrik dat die Suid-Afrikaanse belastingstelsel tred hou met intemasionale ontwikkelinge ten eincle ciie lanci se handelstatus te versterk en te verseker ciat tral1saksies oor grense heen nie onreeimatige gevolge inhou, veral vir buitelandse teenpartye nie.

Numerical methods form an important part of the pricing of financial derivatives and especially in cases where there is no closed form analytical formula. We begin our work with an introduction of the mathematical tools needed in the pricing of financial derivatives. Then, we discuss the assumption of the log-normal returns on stock prices and the stochastic differential equations. These lay the foundation for the derivation of the Black Scholes differential equation, and various Black Scholes formulas are thus obtained. Then, the model is modified to cater for dividend paying stock and for the pricing of options on futures. Multi-period binomial model is very flexible even for the valuation of options that do not have a closed form analytical formula. We consider the pricing of vanilla options both on non dividend and dividend paying stocks. Then show that the model converges to the Black-Scholes value as we increase the number of steps. We discuss the Finite difference methods quite extensively with a focus on the Implicit and Crank-Nicolson methods, and apply these numerical techniques to the pricing of vanilla options. Finally, we compare the convergence of the multi-period binomial model, the Implicit and Crank Nicolson methods to the analytical Black Scholes price of the option. We conclude with the pricing of exotic options with special emphasis on path dependent options. Monte Carlo simulation technique is applied as this method is very versatile in cases where there is no closed form analytical formula. The method is slow and time consuming but very flexible even for multi dimensional problems.

jointly presented by Lau Chi Yuen, Joseph, Wong Chi Ho. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1995. / Includes bibliographical references (leaves 92-96). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iv / Chapter CHAPTER I --- INTRODUCTION --- p.1 / Chapter CHAPTER II --- THE MOTIVATION OF DERTVATIVES TRANSACTIONS --- p.3 / Chapter CHAPTER III --- MAJOR TYPE OF DERIVATIVES TRADING IN EXCHANGE MARKET AND OTC MARKET IN HONG KONG --- p.7 / Exchange Traded Derivatives --- p.7 / Index Option --- p.7 / Strategies of option trading --- p.9 / Ratio covered writing --- p.9 / Bull/Bear Spreads --- p.10 / Butterfly Spreads --- p.11 / Calendar Spreads --- p.12 / Straddle --- p.13 / Strips and Straps --- p.14 / Strangles --- p.14 / Index Future --- p.15 / Spreading Trading --- p.16 / Warrants and Covered Warrants --- p.16 / Other derivatives --- p.19 / OTC (Over-The-Counter) Derivatives --- p.20 / Equity or equity-linked derivatives --- p.20 / Advantages of equity-linked derivatives --- p.20 / Equity-Linked Debt Instruments --- p.21 / Equity Swaps --- p.23 / The Future of Equity Swap Market --- p.27 / Equity options --- p.27 / OTC Stock options --- p.28 / Collar --- p.28 / Spread Call or Put (Capped Call or Put) --- p.29 / Barrier options --- p.30 / Convertible Bonds --- p.31 / OTC Currency Derivatives --- p.31 / Currency Options --- p.32 / Currency Swaps --- p.33 / Currency forwards --- p.33 / Currency Asian Option --- p.33 / Interest Rate Derivatives --- p.34 / Interest rate swap --- p.34 / Interest rate swaptions --- p.35 / Interest rate forward swaps --- p.35 / "Interest rate cap, floor and collar" --- p.35 / Chapter CHAPTER IV --- GROWTH OF ASIAN AND HONG KONG DERIVATIVES MARKET --- p.37 / Bookrunners in Asia --- p.39 / Growth of OTC markets in Asia --- p.41 / Chapter CHAPTER V --- PRICING MODELS FOR THE DERIVATIVES --- p.46 / Black-Scholes differential equation --- p.46 / For HSI call option --- p.47 / For HSI put options --- p.47 / Binomial Trees Model --- p.50 / Valuation of Convertible Bond --- p.50 / Swap Pricing - Banker rs Perspective --- p.51 / Decreasing Profit Margin in Swap Deal --- p.53 / Chapter CHAPTER VI --- THE APPLICATION OF DERIVATIVES IN HONG KONG MARKET --- p.54 / Corporations --- p.54 / Lowering Funding Costs through Arbitrage Opportunity or Issuance of Customized Instruments --- p.55 / Diversifying Funding Sources --- p.55 / Funding Operations in Multiple Countries at Lowest Cost --- p.56 / Managing Foreign Exchange Exposures --- p.56 / Hedging the cost of Issuing Floating-Rate and Fixed-Rate Debt --- p.57 / Hedging the Cost of Anticipated Issuance of Fixed-Rate Debt --- p.58 / Managing Existing Debt of Asset Portfolio --- p.58 / Institutional Investors --- p.59 / Enhancing Yields Through Arbitrage Opportunities --- p.59 / Asset Allocation using Swap --- p.59 / Synthetic Equity --- p.59 / Synthetic FRN --- p.60 / The Benefits of Swap in Asset Management --- p.62 / Eliminate Currency Risk --- p.62 / Managing Risk Exposure with Customized instruments --- p.63 / Individual investors --- p.63 / "Financial Institutions," --- p.64 / Greater Progress in Asian Markets Risk Management Still Lies Ahead --- p.64 / Chapter CHAPTER VII --- RISK MANAGEMENT --- p.65 / Concerns of risk management --- p.65 / "What can be done by the clients," --- p.67 / What can be done by regulators --- p.69 / Chapter CHAPTER VIII --- RISK MANAGEMENT - BANKERS PERSPECTIVE --- p.71 / Reasons for Investment in risk management --- p.71 / Profit by taking more of the right risks --- p.71 / Internationalization of markets --- p.72 / Greater variety and complexity of financial instruments --- p.73 / Risk management in Action --- p.74 / A Common Framework in Risk Management --- p.74 / Identification --- p.74 / Measurement --- p.74 / Management --- p.76 / Measuring Volatility - Past Vs Future --- p.76 / Market Risk Management --- p.78 / Basic Information Views --- p.78 / Trader's View --- p.79 / Accountant's View --- p.79 / Management's View --- p.80 / Simulation to Describe Risks --- p.80 / Reality Check --- p.83 / Reporting in Action --- p.84 / "Risk Management at Large Investment Banks Today," --- p.85 / APPENDIX I SIMULATION OF DELTA HEDGING --- p.88 / BIBLIOGRAPHY --- p.92

No abstract available.

Numerical methods form an important part of the pricing of financial derivatives and especially in cases where there is no closed form analytical formula. We begin our work with an introduction of the mathematical tools needed in the pricing of financial derivatives. Then, we discuss the assumption of the log-normal returns on stock prices and the stochastic differential equations. These lay the foundation for the derivation of the Black Scholes differential equation, and various Black Scholes formulas are thus obtained. Then, the model is modified to cater for dividend paying stock and for the pricing of options on futures. Multi-period binomial model is very flexible even for the valuation of options that do not have a closed form analytical formula. We consider the pricing of vanilla options both on non dividend and dividend paying stocks. Then show that the model converges to the Black-Scholes value as we increase the number of steps. We discuss the Finite difference methods quite extensively with a focus on the Implicit and Crank-Nicolson methods, and apply these numerical techniques to the pricing of vanilla options. Finally, we compare the convergence of the multi-period binomial model, the Implicit and Crank Nicolson methods to the analytical Black Scholes price of the option. We conclude with the pricing of exotic options with special emphasis on path dependent options. Monte Carlo simulation technique is applied as this method is very versatile in cases where there is no closed form analytical formula. The method is slow and time consuming but very flexible even for multi dimensional problems.