Even allergies as serious as those to peanuts can be treated by a slow reintroduction of the offending item to the sufferer's diet.
Even allergies as serious as those to peanuts can be treated by a slow reintroduction of the offending item to the sufferer's diet.

Allergic retractions



It is the scourge of birthday parties and affects an increasing number of children, but could peanut allergy soon be a thing of the past? In early trials, doctors at Addenbrooke's Hospital in Cambridge, UK, claim to have successfully treated 20 children suffering from severe peanut allergies - symptoms of which include potentially dangerous swelling of the airways, breathing problems and asthma - by "retraining" their faulty immune systems. After six months of taking controlled doses of peanut flour, some of the youngsters could eat up to 12 of the nuts a day without experiencing any life-threatening allergic reaction.

Although it is not being billed as a cure, experts hope that the discovery will not only ease the lives of many affected children in the future, but also enable parents who are over-sensitive to the concept of food allergies to relax. For although allergies and intolerances are on the rise among children, there are far more parents who erroneously believe their child needs to avoid certain foods. It is generally accepted that six to eight per cent of children suffer from a food allergy (that figure drops to three per cent in adulthood), yet more than one fifth of parents believe their child to be allergic to peanuts, dairy, wheat or shellfish. The result, say some, is a burgeoning paranoia about food allergies that can have a negative impact on a child's life.

"A real food allergy can be serious and have severe implications," says Catherine Collins, the chief dietician at St George's Hospital in London and a spokeswoman for the British Dietetic Association. "But there is a lot of hype surrounding intolerances and allergies and commercial companies make a lot of money from tests like hair analysis and inaccurate blood analysis that wrongly claim to diagnose them. The result is that children not only become anxious about food, but that they sometimes cut out entire food groups because their parents believe them to be problematic."

Collins says she has come across children who are eating far too few dairy foods to support their growth because parents think they are lactose intolerant. "There is so much confusion about what an allergy is," she says. "And the power of persuasion plays a huge part in people thinking that their child has one." A true allergy occurs when the immune system responds to an offending food by producing large quantities of immunoglobulin E. It can be fatal, with symptoms including swollen lips, an itchy throat, nausea and anaphylaxis. Food intolerances are more common, but less easily diagnosed. There are no confirmed figures, but up to one fifth of people suffer at some time or another, according to the charity Allergy UK. What marks intolerances apart from allergies is that they are not life-threatening and often require no form of dietary manipulation. Indeed, many of the symptoms often associated with an intolerance such as headaches, bloating and nausea occur hours after a food has been eaten and can usually be attributed to something else.

Collins says that the accepted way to treat an intolerance is to build up a resistance by gradually eating more of the offending item: "An intolerance is different to an allergy and exposure to tiny amounts of a food will help to lessen the risk more than avoiding it altogether. Even people with a severe lactose (milk sugar) intolerance can tolerate 6g of lactose a day." She strongly advises against any commercially available tests that claim to diagnose or treat an intolerance. "They are not only a waste of money, but are often very inaccurate," Collins says. "They cause more anxiety than they are worth."

It is because of inaccuracies in testing that misdiagnoses of allergies and intolerances have soared in recent years and that, consequently, parents have become more paranoid. A recent study in Denver looked at 125 children with an average age of four who had been diagnosed with a total of 60 food allergies between them, although none by medical professionals. Dr David Fleischer, a paediatric allergist who led the research, presented each of the children with carefully controlled "food challenges" in which, much like the peanut approach, they were fed minute amounts of the food that was considered to be the problem. By the end of the study, 90 per cent of the allergies turned up negative. "In our department we see people who have undergone commercial tests and are avoiding up to 30 foods as a result," Fleischer says. "It transforms their life when we confirm that, actually, their allergy doesn't exist."

Not that persuading people they have an imaginary allergy is always easy. Psychologists at the University of California in Irvine were studying false memories when they discovered that perceived problems with food can easily be manipulated. The researchers asked 336 subjects to complete a survey about their early eating memories. A week later they were each handed a bogus dietary profile which contained a single untruthful fact about the history of their relationship with food. Some were told that they had become sick when eating pickles or hard-boiled eggs. Around 40 per cent of people said they clearly remembered having an adverse reaction to the food in question or believed their intolerance to be real. Compared with a control group, those who were fed the falsehood also said they would avoid the offending food whenever possible.

Further proof that people are increasingly phobic about food comes from psychologists at the University of Birmingham who interviewed 300 people with a supposed food intolerance and 600 people who considered themselves healthy. However, they found little convincing evidence to link food to any of the symptoms - which ranged from headaches and upset stomachs to hyperactivity - that the sufferers had complained about. Although the researchers acknowledged that real intolerances do exist, they said that most of those reported by their subjects "were based on pure fantasy".

One woman even thought that she was allergic to bananas because her mouth became numb when she ate banana-flavoured ice cream, but investigation found it was the coldness of the dessert and not its fruit content that was the problem. So how do experts explain the benefits reported by some people when they cut out a food only for their energy to be boosted or their abdominal bloating to be reduced? Collins says a placebo effect may be at play. "Sometimes people are so set on the idea that changing their diet will make them feel better that it does up to a point," she explains. "And if they were eating too much of something like wheat, which many people do, then reducing their intake probably will make them feel less lethargic. But to say they have an intolerance is completely inaccurate."

Warlight,
Michael Ondaatje, Knopf 

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Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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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The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)