thenewsbit.com

Month: February 2025

  • Private hospitals dues hit ₹500cr; Punjab assures HC to clear dues by March 21

    Private hospitals dues hit ₹500cr; Punjab assures HC to clear dues by March 21

    The state of Punjab has informed the Punjab and Haryana High Court that it will settle all outstanding payments owed to private hospitals up to December 31, 2024, by March 21.

    The commitment was made before Justice Kuldeep Tiwari’s Bench during the hearing of a petition filed by the Indian Medical Association (IMA) Punjab and other petitioner-hospitals/medical institutions registered under the Ayushman Bharat Scheme.

    The petitioners had sought the release of pending dues amounting to over Rs 500 crore.

    As the petition filed against the state and other respondents through senior counsel DS Patwalia and advocate Adityajit Singh Chadha came up for a resumed hearing, the state counsel gave the undertaking on instructions from the Principle Secretary, Finance. He, at the same time, sought liberty to “further raise the claim regarding contribution to the Central Government as per the scheme”.

    In view of the specific stand taken by the state counsel, the counsel for the petitioners submitted that they at the current stage did not want to press the petition. They, too, sought liberty to revive the petition in case the undertaking was not been adhered to by Punjab.

    Taking up the matter in September last year, Justice Vinod S Bhardwaj of the high court had observed that the liability to pay had been acknowledged, but only about Rs 26 crore had been released. The court had also called for details of expenses incurred on advertising in print and audio-visual media, renovating houses and offices of ministers, MLAs and Class I officers, and the purchase of new vehicles. The Principal Secretary, Finance, was directed to file an affidavit detailing expenses incurred under specific heads.

    Justice Bhardwaj had noted Additional Solicitor-General Satya Pal Jain’s contention that the Centre was to reimburse 60 per cent of the medical bills and had already released Rs 355.48 crore to the state government. The responsibility to disburse the funds, along with their own dues, rested with the state health agencies. “The state has not only not released its own share but also misutilised the share already released by the Union of India,” Jain had added.

    “What is surprising is that even though more than Rs 350 crore has been claimed to be released by the Union of India, the amount received by the state of Punjab/state health agency from the Union of India has not been disbursed and they have unlawfully retained the amount,” Justice Bhardwaj had asserted. Tribune India

  • South Africa’s Vodacom targets double-digit profit growth by 2030

    South Africa’s Vodacom targets double-digit profit growth by 2030

    South Africa’s biggest mobile operator Vodacom aims to accelerate group core profit growth into a double-digit rise from 7.8% in its latest annual results, with more customers and targeted financial services growth.

    Chief Executive Shameel Joosub and Chief Financial Officer Raisibe Morathi hosted shareholders and potential investors to share the operator’s “Vision 2030”, where they laid out medium-term plans to grow on the continent.

    The targeted normalised group earnings before interest, tax, depreciation and amortization (EBITDA) growth of double-digits for 2025 to 2030 is an upgrade from the existing target of high single-digit growth for 2024 to 2027.

    In its latest results for the year ended March 31, Vodacom reported group EBITDA growth of 7.8% on a pro-forma basis. On a reported basis, EBITDA grew by 24.3%.

    According to presentation slides on its website, future growth will be supported by an increase of 50 million customers to reach 260 million customers across eight African countries by 2030. It also expects to add more than 35 million financial services customers from the current 85 million as smartphone penetration grows from 63% to 75%.

    Mobile operators have been expanding in financial services across Africa, where a large part of the population does not have good access to traditional banking. They see fintech and digital services as quick revenue generators.

    Vodacom, majority-owned by British Vodafone, is targeting financial services revenue growth of between 15% and 20% by 2030, as it scales beyond core financial services, introducing products and services such as wealth management.

    Overall, full-year group revenue is seen accelerating to just over 200 billion rand ($10.80 billion) by 2030, from 151 billion rand in 2025, according to the presentation slides. Reuters

  • Besi warns of Q1 2025 revenue drop despite AI-driven orders

    Besi warns of Q1 2025 revenue drop despite AI-driven orders

    Dutch chipmaking parts supplier BE Semiconductor Industries (Besi) forecast an unexpected sales drop for the first quarter on Thursday, as weakness in its traditional markets offsets positive AI related orders.

    The chip assembly equipment maker expects its quarterly sales to fall by up to 10% from the 153.4 million euros ($159.9 million) it reported for the final quarter of 2024.

    Analysts were expecting revenue to grow to 170.2 million euros in the first quarter, according to LSEG’s IBES data.

    Degroof Petercam analyst Michael Roeg said the first quarter guidance came well below market expectations, while fourth quarter results were a broad miss, with order bookings significantly below estimates.

    Bookings, an important metric to forecast future growth, were 121.9 million euros in the fourth quarter, against analysts’ estimate of 171 million euros in a Visible Alpha consensus.

    “We enter the year 2025 with cautious optimism based on strong momentum in our advanced die placement solutions for AI applications partially offset by ongoing weakness in mainstream automotive, smart phone, industrial and Chinese end-user markets,” CEO Richard Blickman said in a statement.

    Investors are banking on growing orders for Besi’s hybrid bonding solutions and the company’s first-mover advantage amid a surge in demand for AI-enabling technology.

    But its traditional markets – tools destined for the production of chips used in cars and smartphones – are facing a more than two year long downturn, as manufacturers push back orders to manage their excess manufacturing capacity.

    Besi said it expects recovery in the mainstream assembly markets to start only in the second half of 2025, which will also depend on end market trends and the course of global trade restrictions. US News

  • Myanmar crime syndicate faces Chinese court over telecom fraud

    Myanmar crime syndicate faces Chinese court over telecom fraud

    A total of 23 defendants, including key members of several major telecom fraud groups based in northern Myanmar stood trial in China on multiple charges including crimes that had killed 14 Chinese nationals and injured six others.

    A local court in Wenzhou, east China’s Zhejiang Province, heard the case from Feb. 14 to 19.

    The defendants included Mg Myin Shaunt Phyin and Ma Thiri Maung, ringleaders of a criminal gang led by their family, as well as major members of the gang and members of other related gangs who served as the “sponsors” of the family’s criminal activities.

    They were facing 11 counts of criminal charges including fraud, intentional homicide, intentional injury, illegal detention, operating casinos, drug trafficking, and organizing prostitution.

    According to the prosecutors, the defendants took advantage of the family’s influence in relevant areas in northern Myanmar and set up several compounds to house criminal gangs, providing armed protection for the operations of the “sponsors” and colluding with them in relevant crimes, such as telecom fraud schemes targeting people in China.

    The gambling and fraud crimes involved funds of more than 10 billion yuan (about 1.4 billion U.S. dollars) and caused the deaths of 14 Chinese nationals and injuries to six other Chinese, the indictment said.

    In a high-profile incident, on Oct. 20, 2023, the gang, in collaboration with the “sponsors,” organized armed escorts to relocate people working for their gangs in an attempt to evade an upcoming crackdown.

    During the relocation, some individuals attempted to escape but were shot by the armed escorts, resulting in multiple deaths and injuries.

    At the trial, prosecutors presented evidence and each defendant and their lawyers examined it. Both sides gave their respective accounts, and the defendants made their respective final statements.

    More than 100 people, including Chinese legislators, political advisors, journalists, family members of those involved, and members of the public, observed the court proceedings.

    The verdict will be announced in due course.

    In addition to the latest trial, several thousand other suspects linked to the criminal groups have been put under investigation after they were linked to more than 10,000 reported telecom fraud cases.

    A prior official statement emphasized that the handling of the case reflects China’s dedication to protecting the legitimate rights and interests of the nation and its citizens.

    The crimes partially took place within Chinese borders, specifically targeted Chinese citizens, and jeopardized the shared interests of the international community, thus granting China jurisdiction under its Criminal Law and international treaties, according to procuratorial sources. Xinhua

  • Bain-NASSCOM report outlines India’s 2047 tech ambitions

    Bain-NASSCOM report outlines India’s 2047 tech ambitions

    As India sets its sights on becoming a developed economy by 2047 in line with its Viksit Bharat vision, a report by Bain & Company and NASSCOM offers several suggestions on how the country can achieve this ambition.

    The report, titled India @2047: Transforming India into a Tech-Driven Economy, outlines a strategic roadmap focusing on the electronics and services sectors. This initiative is part of India’s broader ambition to achieve a GDP of $23-35 trillion and create a tech-driven economy.

    Electronics sector
    The report identifies three key phases for the evolution of the electronics sector:

    • Near term (next five years): A geopolitical shift in supply chains is anticipated, alongside advancements in smart manufacturing and Industry 4.0 technologies. The report states, “AI-enabled chip design and production will become pivotal, with a declining cost of AI access facilitating broader adoption.”
    • Medium term (5–15 years): The focus will shift towards post-silicon electronics and touchless fabrication. The report emphasises, “Next-generation batteries and the development of resilient electronics will be critical for sustainability and circularity.”
    • Long term (15+ years): Innovations in additive manufacturing and high-tech materials, as well as human-machine interfacing (HMI) and neuromorphic chip design, are expected to redefine the industry. The report notes, “Next-gen connectivity will enable smart use cases, enhancing multi-device continuity.”

    Key technology advancements
    The report highlights several technology advancements that will shape the future of the electronics sector:

    • AI-enabled R&D and fab design.
    • Low-power electronics.
    • Biodegradable components.
    • Flexible and transparent displays.
    • Touchless fabrication.

    These advancements are crucial for positioning India as a global leader in electronics manufacturing, the report states.

    Challenges and growth strategies

    Despite the promising outlook, the report also identifies several challenges:

    • Supply chain disruptions and component shortages.
    • Inadequate infrastructure and manufacturing capabilities.
    • Dependence on imports.
    • Regulatory and compliance challenges.

    To address these, the report suggests potential levers such as smart factories and generative AI (GenAI) for infrastructure development. “Accelerating domestic production and increasing participation in the global value chain are essential for growth,” it states.

    Services sector

    The services sector is projected to contribute significantly to India’s GDP, with growth driven by:

    • Favourable infrastructure.
    • Technological advancements and innovation.
    • Availability of a skilled workforce.
    • Rising contributions from MSMEs (micro, small, and medium enterprises).

    Technological advancements in BFSI
    In the banking, financial services, and insurance (BFSI) sector, the report outlines several advancements:

    • Explainable AI-led core processing.
    • Virtual AI agent-led open banking.
    • Data-based flexible insurance and claims pricing.
    • Blockchain-enabled transactions.
    • Quantum encryption for advanced cybersecurity.

    Potential levers for BFSI
    The report emphasises the importance of embedding AI for process automation and improving financial inclusion through GenAI. It states, “Flexible risk-based insurance premiums and enhanced cybersecurity measures are critical for future growth.”

    Retail and healthcare

    For the retail sector, advancements such as hyper-personalised shopping experiences using GenAI and autonomous delivery systems are highlighted. The report notes that “integrating on-demand production into supply chains will streamline operations and improve efficiency.”

    In healthcare, innovations like wearable health monitoring devices and AI-based predictive healthcare mechanisms are set to revolutionise patient care. The report suggests, “Expanding remote care and integrating genomics into precision medicine are essential for inclusivity and effectiveness.” CNBCTV18

  • Measat And SPACESAIL forge strategic partnership to enhance satellite broadband

    Measat And SPACESAIL forge strategic partnership to enhance satellite broadband

    The MoU exchange ceremony occurred in Shanghai, with Measat represented by Chief Operating Officer Yau Chyong Lim and SPACESAIL by its President, Dr. Jason Zheng. This partnership aims to facilitate the deployment of SPACESAIL’s Low Earth Orbit (LEO) broadband services and solutions, including its Thousand Sails mega-constellation, also known as “Qianfan.” The collaboration will focus on emerging technologies such as Direct-to-Device (D2D) communications, satellite-based IoT services, and Earth Observation (EO) capabilities in Malaysia and other Asian markets where Measat operates. Additionally, both companies will conduct a joint study on rain fade effects in Q-/V-band high-frequency transmission.

    Commenting on the MoU, Communications Minister YB Fahmi Fadzil said: “In 2024, Malaysia marked the 50th anniversary of our diplomatic relations with the People’s Republic of China, celebrating the many positive outcomes of this cordial friendship. Looking forward, there are abundant opportunities for deeper collaboration, especially in harnessing advanced technologies to enhance people’s lives. These innovations can potentially drive a wide array of benefits, from improving the delivery of government services to fostering economic growth through industrial and commercial applications. Additionally, with Malaysia serving as Chairman of ASEAN this year, we hope to showcase the country’s technological capabilities and explore new opportunities across the region.”

    Yau Chyong Lim, Chief Operating Officer of Measat, added: “Measat is excited to begin this partnership with SPACESAIL to advance LEO satellite services across our markets. We firmly believe in a multi-orbit satellite network to achieve progress in society. We are pleased to have the opportunity to integrate the capabilities of SPACESAIL’s Thousand Sails mega constellation with Measat’s fleet of Geostationary Orbit (“GSO”) satellites. In regions where Measat operates, satellites have immense potential to further bridge the digital divide and overcome geographical challenges. We look forward to realising this multi-orbit potential – from expanding the reach of established use-cases like satellite broadband in remote areas to advancing cutting-edge satellite solutions such as D2D connectivity and satellite-based IoT.”

    Dr Jason Zheng, President of SPACESAIL, stated: “For SPACESAIL, this partnership with Measat is another milestone in delivering global broadband connectivity and driving innovation in the satellite industry by synergising our respective strengths. China and Malaysia are two nations that value the role of technology in empowering businesses and improving lives. I look forward to achieving technological progress by tapping on Measat’s local expertise while strengthening bilateral ties – including in upcoming fields like the integration of terrestrial and non-terrestrial network communications. I thank the Government of Malaysia, particularly the Malaysian Communications and Multimedia Commission, for welcoming SPACESAIL’s interest in offering our services in the country in collaboration with local industry leaders such as Measat.”

    SPACESAIL’s Thousand Sails mega-constellation, which has launched 72 satellites to date, seeks to provide low-latency, high-speed and ultra-reliable satellite broadband internet services worldwide. The mega-constellation is targeted to consist of more than 15,000 satellites in the future. Broadcast Media Africa

  • Vodafone to open European space and land mobile broadband research hub

    Vodafone to open European space and land mobile broadband research hub

    Vodafone will open a research facility in Spain for integrating Low-Earth Orbit (LEO) satellite and terrestrial mobile broadband services with AST SpaceMobile and the University of Málaga. Vodafone announced the center on Feb. 19, calling it the first of its kind in Europe.

    The hub aims to enable switching between satellite and cellular networks on smartphones. The initiative follows Vodafone’s successful space-based video call in January 2025 and aligns with its goal to expand mobile coverage across multiple markets.

    Opening by summer 2025, the hub is supported by an initial grant from the Spanish Space Agency. The hub will be located at Vodafone’s European innovation center in Málaga, Spain.

    The Vodafone hub will focus on the design, testing, and validation of open source hardware, software, and processing chips that can work in space and terrestrial networks. It will house a space-to-land gateway to allow its partners and other operators to test and validate their own services connected to AST SpaceMobile’s BlueBird satellites before launching them. Vodafone plans to evolve the hub into a comprehensive network and service operations center for European third-party companies.

    Alberto Ripepi, Vodafone’s chief network officer, said: “Vodafone, together with AST SpaceMobile and the University of Málaga, will forge partnerships with like-minded organizations to build harmonious space and Earth networks to meet Europe’s ambitious targets for ubiquitous digital connectivity.”

    This venture builds on Vodafone’s existing relationship with AST SpaceMobile, solidified by a commercial agreement signed in December 2024. The agreement, lasting through 2034, allows Vodafone to offer space-based cellular broadband in its markets and through partner operators. Via Satellite

  • 360 Broadband secures $52M grant to expand internet access

    360 Broadband secures $52M grant to expand internet access

    Internet service provider 360 Broadband will expand and upgrade internet access in Fannin County, Texas, with the help of a $52 million award from the Texas Broadband Development Office’s Bringing Online Opportunities to Texas (BOOT) II Program.

    The grant will fund part of a $65 million project to bring high-speed fiber internet service to the region, transforming connectivity for residents, businesses, and community institutions. In total, the buildout will improve internet speeds and reliability for 12,000 locations, with 4,355 funded by the grant and the remainder by 360 Broadband. The project is already underway and is expected to be completed by the end of 2026, creating good local jobs in the process.

    “This is a pivotal moment for Fannin County,” said Kris McElroy, CEO of 360 Broadband. “Reliable, high-speed internet isn’t just a convenience – it’s necessary for education, business, healthcare, and overall quality of life. We’re honored to lead this effort.”

    “Our mission has always been to connect under-served communities in our area, and this will allow us to take that commitment even further,” commented Drew Beverage, COO of 360 Broadband. “We’re not just laying fiber; we’re laying the foundation for long-term growth and quality of life in Fannin County.”

    The BOOT II Program, spearheaded by the Texas Comptroller’s office, aims to bridge the digital divide by funding projects that deliver reliable, high-speed broadband to underserved areas. The Manila Times

  • OTT platforms striving to stay relevant in ever evolving market & technologies

    OTT platforms striving to stay relevant in ever evolving market & technologies

    There was a time that radio, broadcasting, and newspapers ruled the minds of global consumers, and then came the wave of OTT platforms that offered personalised content, playlists, and unique narratives that empowered the viewer. This changed the game and the entertainment sector rose to much significance. Also, as OTT media became mainstream entertainment, platforms now have a constant need to revamp their catalogue, marketing tactics, business partnerships, and technology to stay ahead in the game. The bar is raised on hygiene and consumers are discerning about the overall experience.

    The figures show that the Indian OTT streaming video market is currently in its second expansion and two billion dollars in advertising and one billion dollars in subscription is the current business value.

    Business Model Disruption
    The business model is where the major disruption has occurred. Aggregation is largely emerging as an answer to consumer questions at large. In India, there are an average of two OTT platforms being launched every quarter or so, and everyone is fighting for the same viewer. This pushes up the cost of digital inventory, thereby pushing up the cost of consumer acquisition which is already hitting the roof, making direct subscriptions expensive. India has a saving mentality and they like bundled options, which are slowly emerging as the mainstay of many OTT platforms, especially the smaller ones.

    There is a hybrid model, a freemium model, and the subscription model. Within the subscription model, the direct-to-consumer relationship is evolving into an aggregation and bundle model. But each platform will want to write its P&L narrative considering who is their TG, what is audience pool, content type, pipeline, and so on.

    Unexplored Yet Markets
    The potential of the regional market is unexplored yet is immense; at present, there is about 36 per cent of the regional market is left unpenetrated and showcases a huge potential for the OTT players.

    While platforms like Stage, Aha, Hoichoi, and Chaupal are trying to serve regional audiences, it’s the larger OTT platforms that need to take the plunge with a deeper more regional approach to enhancing their footprints. For example early on when Netflix and Amazon Prime were working to establish themselves in India, they saw tremendous success with shows like Sacred Games and Mirzapur respectively because a huge chunk of the population was able to identify with it at a deeper level than they were able to relate to the global content which was offered. But India is not just a Hindi-speaking market, it has diverse languages and content perspectives.

    The Fresh Content Narrative
    People increasingly turned to OTT platforms for fresh and high-quality content, as they had obviously been fatigued by the routine Indian TV serials. Additionally, OTT provided a platform for creators and artists to reclaim their status in the entertainment industry, which may have otherwise been overshadowed by a shift in the cinema or other forms of entertainment.

    India is a land of great cultural and demographic diversity, presenting multiple chances for OTT players to reach out to a wide variety of viewers. But is that still the narrative of content or is it getting influenced again by television style or cinema offerings? That is the question that OTT platforms need to ask themselves constantly and revamp their pipeline to stay ahead in the game. Collaboration on content creation doesn’t only amortise the rising content cost, but partners are also able to leverage each other’s strengths, understand consumer insights better, co-market, and monetise the product with combined reach strength.

    Technology and thereof Experience
    An immersive experience helps set the OTT spaces aside from other forms of entertainment. As the users get to experience a newer, contemporary form of entertainment consumption, it builds a deeper connection between the user and the platform. Also, India being a mobile-first country, OTTs will need to leverage the 5G model to their advantage for faster and more reliable access to end-users with zero buffer and immersive experiences that can be AR/VR or E-commerce built into content-led.

    Also, OTT spaces need to understand the critical importance of personalised experiences and content, in terms of suggestions, playlists, etc when dealing with their audience. Speedy players and great recommendation engines along with a simple UI/UX are becoming the staple requirement of the day and non-negotiable. BW Marketing World

  • USAID cut derails South Africa-led HIV research project

    USAID cut derails South Africa-led HIV research project

    South African lab technician Nozipho Mlotshwa was waiting for the test results for a potential HIV vaccine, which has eluded scientists for decades, when the order came from USAID to stop work.

    The first round of vaccines she and her colleagues made in Johannesburg had produced an immune response in rabbits, which was promising but not conclusive – so they tweaked the formula and sent off four new versions for pre-clinical tests.

    “This was very exciting. We were getting quite good results,” Mlotshwa, 32, told Reuters in the lab in the Antiviral Gene Therapy Research Unit at the city’s University of the Witwatersrand.

    Now the animal blood samples containing their results are sitting untouched in a freezer.

    A trial of an earlier, separate vaccine candidate, which was about to be tested on humans in South Africa as well as Kenya and Uganda, is also on ice.

    Both trials are among the casualties of U.S. President Donald Trump’s decision to dismantle the United States Agency for International Development (USAID).

    They are part of a wider South African-led HIV vaccine development scheme known as BRILLIANT and funded entirely by a $45 million grant from USAID. It is unclear if or when the project could resume. The U.S. State Department did not immediately respond to a request for comment.

    “It feels like you’re building something and you could really make a huge difference,” Nigel Garrett, Chief Scientific Officer at the Desmond Tutu Health Foundation, a partner in the project, said.

    “And then it’s wiped away.”

    The project is one of many research efforts worldwide to be hit by Trump’s actions since taking office last month. Others include halting efforts to protect food crops from pests and diseases and blocking publication of a paper on the mpox outbreak.

    ‘Holy grail’
    HIV’s ability to mutate quickly has confounded efforts to create a vaccine ever since it was first identified in 1983. The researchers in Johannesburg are using the mRNA technology that created some COVID-19 vaccines.

    Several other mRNA-based HIV vaccine candidates worldwide have reached clinical trials. BRILLIANT is unique in being Africa-led, aiming to develop capacity for producing vaccines in Africa.

    For the past year the Johannesburg team had been working with genetic sequences from two South African patients who have HIV but whose bodies produce a rare type of antibody that neutralizes the virus. They are trying to simulate that immune response.

    “We were gaining momentum,” said Patrick Arbuthnot, director of the research unit, adding: “an HIV vaccine is the holy grail of the field”.

    Trump in January ordered a 90-day pause in all foreign development assistance pending assessment of its consistency with his “America First” foreign policy.

    Separately, he has targeted South Africa with an executive order to cut all funding to the country, citing disapproval of its land reform policy and its genocide case against U.S. ally Israel.

    The U.S. foreign aid freeze has affected programmes across the globe, stranding shipments of life-saving medical supplies, including HIV drugs, and leaving disaster response teams unable to deploy. Waivers for “life-saving humanitarian assistance” have been hampered.

    ‘Good for the world’
    Because South Africa has the world’s largest population of people living with HIV, at more than 8 million, it is a hub for research on the virus.

    “Most of the landmark and groundbreaking studies have been conducted in this country. But these have been good for the whole world,” said Ntobeko Ntusi, CEO of the South African Medical Research Council, which is spearheading the HIV vaccine search.

    Ntusi said he did not expect funding for projects like BRILLIANT to resume, given the executive order on aid to South Africa. The council gets about a third of its funding from U.S. federal sources, for research that is mostly on HIV and tuberculosis but covers other areas including maternal and infant mortality and antimicrobial resistance, he said.

    Garrett said the shot that was ready for testing on humans was a mix of two vaccine substances developed in the United States and the Netherlands which have shown promise but never been tested together.

    They are now sitting in storage.

    “We had a huge opportunity, good funding. It’s difficult for other funders to fill that gap,” he said. Reuters