Wind derivatives are financial instruments designed to mitigate losses caused by adverse wind conditions. With the rapid growth of wind power capacity due to efforts to reduce carbon emissions, the demand for wind derivatives to manage uncertainty in wind power production is expected to increase. However, existing wind derivative literature often assumes normally distributed wind speed, despite the presence of skewness and leptokurtosis in historical wind speed data. This paper investigates how the misspecification of wind speed models affects wind derivative prices and proposes the use of the generalized hyperbolic distribution to account for non-normality. The study develops risk-neutral approaches for pricing wind derivatives using the conditional Esscher transform, which can accommodate stochastic processes with any distribution, provided the moment-generating function exists. The analysis demonstrates that model risk varies depending on the choice of the underlying index and the derivative’s payoff structure. Therefore, caution should be exercised when choosing wind speed models. Essentially, model risk cannot be ignored in pricing wind speed derivatives.

A walking robot consisting of double Stewarts parallel legs was designed by our research team in the past time, which was mainly used for the transportation of the wounded after the disaster. In order to promote stability of control locomotion and ensure invariably horizontal state of the robot platform in the process of motion, the central pattern generator (CPG) based on particle swarm optimization (PSO) is presented to optimize the kinematic model. The purpose of optimization is to solve the hysteresis problem of displacement variation among the electric cylinders. Moreover, the dynamic model of the robot is established, which can provide mechanical basis for the feedback of control signal and make the robot move stably. The simulation results show that the displacement hysteresis problem of the electric cylinders is solved well. Meanwhile, compared with simulation results based on GA-CPG method, it is demonstrated that the robot motion planned using PSO-CPG method has better motion stability and can avoid the impact of legs landing during the transition phase of the motion cycle. The experimental results show that the platform on the robot can maintain an invariably horizontal state, and the locomotion is more stable. It verifies the feasibility of PSO-CPG model and the correctness of the dynamic model of the parallel mobile rescue robot.

Malaysia, being a former English colony, inherited a corpus of English law which includes equity and trusts. In recent times, major banks, financial institutions, and trust companies have reimagined the English trust in combination with Islamic law, by offering an innovation called the hibah trust. This instrument represents the Islamisation of the English trust concept where the Islamic idea of the hibah, an inter vivos gift and the English trust is combined as a wealth management offering to clients. This article explores how the hibah trust works, reasons why institutions may be offering this hybrid instrument, and potential challenges to its validity both in the civil and Syariah court.

The sequential occurrence of three layers of smooth muscle layers (SML) in human embryos and fetus is not known. Here, we investigated the process of gut SML development in human embryos and fetuses and compared the morphology of SML in fetuses and neonates. The H&E, Masson trichrome staining, and Immunohistochemistry were conducted on 6–12 gestation week human embryos and fetuses and on normal neonatal intestine. We showed that no lumen was seen in 6–7th gestation week embryonic gut, neither gut wall nor SML was developed in this period. In 8–9th gestation week embryonic and fetal gut, primitive inner circular SML (IC-SML) was identified in a narrow and discontinuous gut lumen with some vacuoles. In 10th gestation week fetal gut, the outer longitudinal SML (OL-SML) in gut wall was clearly identifiable, both the inner and outer SML expressed α-SMA. In 11–12th gestation week fetal gut, in addition to the IC-SML and OL-SML, the muscularis mucosae started to develop as revealed by α-SMA immune-reactivity beneath the developing mucosal epithelial layer. Comparing with the gut of fetuses of 11–12th week of gestation, the muscularis mucosae, IC-SML, and OL-SML of neonatal intestine displayed different morphology, including branching into glands of lamina propria in mucosa and increased thickness. In conclusions, in the human developing gut between week-8 to week-12 of gestation, the IC-SML develops and forms at week-8, followed by the formation of OL-SML at week-10, and the muscularis mucosae develops and forms last at week-12.

Viruses completely rely on the energy and metabolic systems of host cells for life activities. Viral infections usually lead to cytopathic effects and host diseases. To date, there are still no specific clinical vaccines or drugs against most viral infections. Therefore, understanding the molecular and cellular mechanisms of viral infections is of great significance to prevent and treat viral diseases. A variety of viral infections are related to the p38 MAPK signalling pathway, and p38 is an important host factor in virus-infected cells. Here, we introduce the different signalling pathways of p38 activation and then summarise how different viruses induce p38 phosphorylation. Finally, we provide a general summary of the effect of p38 activation on virus replication. Our review provides integrated data on p38 activation and viral infections and describes the potential application of targeting p38 as an antiviral strategy.

Intestinal atresia (IA), a common cause of neonatal intestinal obstruction, is a developmental defect, which disrupts the luminal continuity of the intestine. Here, we investigated (i) the process of lumen formation in human embryos; and (ii) how a defective lumen formation led to IA. We performed histological and histochemical study on 6–10 gestation week human embryos and on IA septal regions. To investigate the topology of embryonic intestine development, we conducted 3D reconstruction. We showed that a 6–7th gestation week embryonic gut has no lumen, but filled with mesenchyme cells and vacuoles of a monolayer of epithelial cells. A narrow gut lumen was formed by gestation week-9, the gut was filled with numerous vacuoles of different sizes, some vacuoles were merging with the developing embryonic gut wall. At gestation week-10, a prominent lumen was developed, only few vacuoles were present and were merging with the intestine wall. At IA septal regions, vacuoles were located in the submucous layer, covered by a single layer of epithelium without glandular structure, and surrounded with fibrous tissue. The mucosal epithelium was developed with lamina propria and basement membrane, but the submucosa and the longitudinal smooth muscle layers were not properly developed. Hence, the vacuoles in IA septum could represent a remnant of vacuoles of embryonic gut. In conclusion, the fusion of vacuoles with the developing intestine wall associates with the disappearance of vacuoles and gut lumen formation in human embryos, and perturbation of these developmental events could lead to IA.

The aim of the present study was to explore the influence of tea consumption on diabetes mellitus in the Chinese population. This multi-centre, cross-sectional study was conducted in eight sites from south, east, north, west and middle regions in China by enrolling 12 017 subjects aged 20–70 years. Socio-demographic and general information was collected by a standardised questionnaire. A standard procedure was used to measure anthropometric characteristics and to obtain blood samples. The diagnosis of diabetes was determined using a standard 75-g oral glucose tolerance test. In the final analysis, 10 825 participants were included and multiple logistic models and interaction effect analysis were applied for assessing the association between tea drinking with diabetes. Compared with non-tea drinkers, the multivariable-adjusted OR for newly diagnosed diabetes were 0·80 (95 % CI 0·67, 0·97), 0·88 (95 % CI 0·71, 1·09) and 0·86 (95 % CI 0·67, 1·11) for daily tea drinkers, occasional tea drinkers and seldom tea drinkers, respectively. Furthermore, drinking tea daily was related to decreased risk of diabetes in females by 32 %, elderly (>45 years) by 24 % and obese (BMI > 30 kg/m2) by 34 %. Moreover, drinking dark tea was associated with reduced risk of diabetes by 45 % (OR 0·55; 95 % CI 0·42, 0·72; P < 0·01). The results imply that drinking tea daily was negatively related to risk of diabetes in female, elderly and obese people. In addition, drinking dark tea was associated with decreased risk of type 2 diabetes mellitus.