Author: Newsbit

  • Panel urges standardized pricing for cancer diagnostic packages

    Panel urges standardized pricing for cancer diagnostic packages

    A parliamentary panel has recommended that cancer diagnostic packages with standardised pricing should be developed under government-regulated health insurance schemes to enable wider inclusion.

    The Committee on Petitions, Rajya Sabha, headed by Narain Dass Gupta in its 163rd report presented on Wednesday, also recommends that the price caps enforced by the National Pharmaceutical Pricing Authority (NPPA) such as the existing 30 per cent trade margin cap on 42 essential anti-cancer drugs should be extended to cover cancer vaccines, immunotherapy, and oral chemotherapy.

    “This expansion of regulatory oversight is essential to containing insurer costs and making cancer insurance products more affordable and accessible to a wider population segment,” the Committee said.

    It also recommended that more cancer hospitals equipped with advanced medical technology be established through government funding, private sector participation, and Public-Private Partnership (PPP) models.

    “These facilities should be empanelled within insurer networks to enable the provision of cashless services to patients. The formulation of clearly defined treatment packages will further assist insurers in standardising costs and passing on financial benefits to policyholders,” the panel said.

    Additionally, dedicated cancer screening centres must be set up to facilitate early detection, it stated.

    The Committee also recommended policy level interventions to integrate cancer screening within major health schemes such as PMJAY, and to include cancer diagnostic tests under CGHS and ECHS. This would enable optimal utilisation of private sector diagnostic infrastructure for public health objectives, the panel said.

    The Committee observed that ensuring accessible and affordable cancer care necessitates a comprehensive, multi-stakeholder strategy underpinned by strong governmental policy support.

    It underscored the critical need for effective public-private partnerships, the adoption of standardised treatment protocols, and the expansion of insurance coverage to reduce the financial burden on patients.

    Additionally, it highlighted the importance of strengthening healthcare infrastructure and enhancing public awareness as integral components of a resilient cancer care ecosystem.

    To bridge existing service delivery and affordability gaps, the Committee recommended greater participation from insurance providers, banking institutions, and Corporate Social Responsibility (CSR) initiatives.

    Such coordinated engagement will play a pivotal role in creating an inclusive, sustainable, and patient-centric cancer care framework across the country, it underlined.

    It also observed that the existing number of diagnostic centres is inadequate considering the size and health needs of the country’s population.

    It further noted that rural areas, in particular, suffer from a lack of well-equipped diagnostic facilities and oncologists, who remain largely concentrated in urban centres. The Committee batted for establishing additional diagnostic centres, especially in underserved and rural regions. It recommended that cancer diagnostic packages with standardised pricing be developed under government-regulated health insurance schemes to enable wider inclusion.

    The availability of diagnostic services at regulated package rates would facilitate the inclusion of such centres in insurer networks, thereby extending the cashless treatment facility to a broader section of beneficiaries, the panel said.

    In light of the low rate of cancer screening in the country, the Committee also recommended that the government should scale up the national screening programme, with particular focus on regions with limited access to medical care.

    In addition to expanding screening infrastructure, it urged the government to intensify awareness campaigns across the country.

    These campaigns should be region-specific, rather than generalised, to ensure maximum outreach. The non-government organisations should be actively involved as they are well aware of the ground realities and possess valuable experience of working with local communities.

    Given the social stigma still associated with cancer in many parts of the country, leveraging these partnerships will effectively supplement the efforts of the government in conveying the preventive messages, it said while suggesting utilisation of services of celebrities, especially celebrity cancer survivors, to drive home the importance of early screening.

    The panel noted that Patient Assistance Programmes are a commendable initiative by the government aimed at ensuring access to affordable medicines, particularly for economically vulnerable sections of society.

    Programmes such as the Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) play a critical role in providing low-cost medicines to patients from low-income groups. It noted that while some pharmaceutical firms offer patient support programmes, their presence remains limited. It recommended engaging more pharmaceutical manufacturers to implement such initiatives, particularly in areas where access to healthcare services is inadequate.

    “This would greatly enhance the accessibility and affordability of essential treatments for disadvantaged populations. The Patient Assistance Programmes must also educate the patients about the treatment methodologies available and ensure that they adhere to the treatment plan. They should also be educated about the different government schemes available,” the panel recommended. PTI

  • TN govt pushes AI-driven growth for MSMEs

    TN govt pushes AI-driven growth for MSMEs

    Tamil Nadu’s Minister for Information Technology and Digital Services, Palanivel Thiaga Rajan suggested that it is essential for India to tap into its domestic market given the current geopolitical concerns globally.

    “After decades of hyper-globalism, the world is heading towards a phase of fragmentation and de-globalisation. Protectionist measures such as tariffs, trade regulations and shifting supply chains are making it increasingly harder for businesses to enter international markets,” he said. “In this climate it’s critical for India to leverage its sheer scale and the strength of its massive domestic consumption market. We will have to focus on building for India – manufacturing local products, by local entrepreneurs for local consumers,” Rajan said.

    The minister was speaking at the “ZeroToOne: GenAI Product Day” at the IIT Madras Research Park in Chennai.

    He also added that the Tamil Nadu government’s aim is to create a robust innovation ecosystem where even young MSMEs have the tools to adopt AI and digital technologies to design, manufacture and deliver impactful products.

    During the event, the minister unveiled MakeGPT, a platform that helps create sophisticated Internet of Things (IoT) systems using natural prompts. The platform, built by IIT Madras Research Park-based Kochadai Technologies, allows users to describe their ideas in plain language and automatically generate complete working IoT solutions.

    “Imagine telling an AI ‘Create a soil moisture monitoring system that sends alerts to my phone when plants need water’ and receiving a complete prototype with component lists, firmware code, and assembly instructions,” said Naveena Swamy, Founder, Kochadai Technology Solutions. “That’s the reality MakeGPT delivers today. We’re democratizing hardware innovation for everyone.”

    The event saw participants discuss the unique use cases of generative AI in product development and hardware innovation. It also involved live showcases of many GenAI themed student projects. The Hindu BusinessLine

  • Cellular IoT revenues to reach $30B by 2030

    Cellular IoT revenues to reach $30B by 2030

    Operators will generate $30 billion from cellular Internet of Things (IoT) connectivity globally in 2030, according to Juniper Research.

    This represents a substantial rise of 74% from $18 billion in 2025; driven by a rising demand for operational efficiency and automation.

    To capitalise on this growth, Juniper Research urges network operators to innovate how they monetise IoT connectivity, with network application programming interfaces (APIs) emerging as a key technology. By providing standardised, on-demand access to cellular network capabilities, APIs enable operators to shift from monthly subscription charges to usage-based monetisation.

    Network APIs Fuel Cellular IoT Adoption

    Enterprises increasingly demand flexibility in how they are charged; Juniper Research believes that the established recurring subscription model for connectivity is becoming insufficient in meeting this demand. Instead, operators must support IoT-centric APIs that charge through the usage of IoT networks, rather than solely connectivity.

    “Operators will find far more success in the IoT space through usage-based billing. As we move closer to 6G, operators cannot repeat the mistakes of 5G. Connectivity alone is not enough. Operators must leverage software-defined networks to increase revenue through billing mechanisms that align with high data usage.” explained Alex Webb, Senior Research Analyst at Juniper Research.

    Network APIs key opportunity for future revenue growth
    To maximise the impact of APIs, operators must simplify how enterprises use these advanced network capabilities. Juniper Research urges operators to implement standards-based network APIs through developer portals. This will enable all enterprises, regardless of their experience with networking protocols, to easily deploy network applications without needing deep telecom expertise; maximising cellular IoT’s appeal. Juniper Research

  • South Korea prioritizes AI to boost growth

    South Korea prioritizes AI to boost growth

    South Korea vowed to make investment in artificial intelligence a top policy priority, as the government slashed its economic growth projection for this year due to trade headwinds caused by US tariffs.

    In the first bi-annual economic policy plan under President Lee Jae Myung’s new administration, the finance ministry said it would introduce from the second half of 2025 policy packages for 30 major AI and innovation projects.

    These include AI technologies for robots, cars, ships, home appliances, drones, factories and chips, as well as advanced materials and cultural products such as “K-beauty” and “K-food”.

    “A grand transformation into AI is the only way out of growth declines resulting from a population shock,” the ministry said in a statement, referring to South Korea’s record low birthrate.

    While the government plans to include measures such as financial investments, tax incentives and regulatory improvements in the packages, it said it would also create a 100 trillion won ($71.56 billion) fund, jointly with the private sector, to invest in strategic sectors.

    The policy plans aim to make the country one of the world’s top three AI powers and boost potential economic growth rates in a country with the world’s lowest birth rate, the ministry said.

    South Korea’s potential growth rate is estimated at around 2% and expected to fall below 1% by the late 2040s, though the government hopes the new policies can lift the rate to 3%.

    Asia’s fourth-largest economy grew in the second quarter at the fastest pace in more than a year, as consumer demand rebounded and technology exports remained robust, but still faces trade uncertainties due to higher US tariffs.

    Last month, South Korea agreed to a US trade deal that reduces tariffs on the Asian ally to 15% from a threatened 25%, but still higher than the baseline 10% that had been in place.

    The finance ministry expects the export-reliant economy to grow 0.9% this year, down sharply from the 2.0% expansion last year and its previous projection of 1.8% in January. The economy is expected to grow 1.8% in 2026, the ministry said.

    Exports are forecast to grow 0.2% in 2025, but fall 0.5% in 2026, according to the ministry. In 2024, exports jumped 8.1%.

    Lee’s liberal administration said it would increase government budget spending for next year at a higher rate than this year, emphasising its proactive fiscal policy stance.

    Other major policy plans announced on Friday include support measures for childcare and work-life balance, stronger sanctions to prevent industrial accidents, regulatory frameworks for digital assets and capital market reforms to win a developed-market designation from a global stock index provider. Reuters

  • Coalition urges CMS to ease medical device access

    Coalition urges CMS to ease medical device access

    A coalition of health care and medical technology organizations is urging federal officials to create a streamlined pathway that would give Medicare patients faster access to breakthrough medical devices and diagnostics.

    In a letter to Mehmet Oz, MD, administrator for the Centers for Medicare & Medicaid Services, the groups called on the agency to align more closely with the Food and Drug Administration to reduce delays in coverage for innovative technologies. They argued that unnecessary regulatory hurdles prevent seniors from benefiting from treatments that could improve or save lives.

    “Patients should not be forced to wait the better part of a decade for access to safe and effective medical technology,” the groups wrote, citing a recent study that found it can take nearly six years between FDA authorization of a new technology and Medicare coverage.

    The organizations highlighted the impact of medical technology in recent decades, noting that advances have shortened hospital stays, reduced deaths from breast cancer by 43%, and cut fatalities from heart disease and stroke by nearly half. Devices and diagnostics have also enabled earlier detection of conditions such as Alzheimer’s and Parkinson’s disease.

    While CMS has programs such as the Transitional Coverage of Emerging Technologies initiative, the groups said those efforts fall short of delivering consistent, timely access to innovations. They urged the agency to consider adopting a framework modeled after the Medicare Coverage of Innovative Technology program, which was introduced under a prior administration but later repealed.

    Such a policy, they argued, would provide automatic coverage for FDA-cleared breakthrough technologies and a clear timeline for CMS to gather additional evidence needed for permanent coverage decisions. Legislative proposals such as the Ensuring Patient Access to Critical Breakthrough Products Act have also sought to enshrine this approach.

    The letter praised Oz for exploring options to improve the pathway but urged the agency to “take bold action” to ensure Medicare beneficiaries are not left behind as new treatments become available.

    “This administration has a significant opportunity to course correct and make meaningful progress on improving American health,” the groups wrote. Medical Economics

  • US tech slump exposes AI trade risks

    US tech slump exposes AI trade risks

    US technology shares are showing signs of vulnerability after a massive run, which has some investors pointing to overdone AI-driven gains while funds have taken steps to position away from the high-flying sector.

    Investors are looking to de-risk portfolios or lock in profits during a seasonally difficult period for stocks. Friday’s looming speech by Federal Reserve Chair Jerome Powell at the annual Jackson Hole symposium is creating caution, investors said, with the potential for volatility if his comments fail to meet growing market expectations that the central bank is poised to cut interest rates.

    “When you have overcrowding and you have had such strong performance, it doesn’t take much to see an unwind of that,” said Keith Lerner, co-chief investment officer at Truist Advisory Services. “At the same time this week, everyone is waiting for the Fed, and there is repositioning ahead of that.”

    The heavyweight S&P 500 tech sector fell sharply for a second consecutive session on Wednesday, putting its decline on the week at about 2.5%, while the tech-heavy Nasdaq Composite was off about 2% for the week. Shares of some highflyers, including Nvidia Corp and Palantir Technologies, were getting hit particularly hard.

    The pullback comes after a huge rally in which the tech sector soared over 50% through last week since the market’s low for the year in April. That easily topped the 29% gain of the broader S&P 500 during that period and drove up valuations of tech stocks to lofty levels.

    Investors cited wariness about the artificial intelligence trade, which has been a key driver of tech stocks and the broader market as indexes have soared to record highs this year.

    Shares of Nvidia, the semiconductor giant that has symbolized the AI trade, have gained about 30% this year while shares of AI-focused data and analytics firm Palantir have roughly doubled year-to-date.

    Indeed, the tech sector’s price-to-earnings ratio recently reached about 30 times expected earnings for the next 12 months, its highest level in a year, according to LSEG Datastream, while tech’s share of the overall S&P 500’s market value is nearly its highest since 2000.

    Recent cautionary signs included a study from researchers at the Massachusetts Institute of Technology that found that 95% of organizations are getting no return on AI investments, as well as comments by OpenAI CEO Sam Altman, who told tech news website the Verge last week that investors may be getting overexcited about AI.

    Since last week, some AI-linked shares have pulled back sharply: Nvidia has dropped about 5% while shares of Palantir have slumped some 16%. In Europe, stocks of so-called AI adopters have been under pressure over concerns over how powerful new AI models could disrupt the software sector.

    Still, some investors said, the caution is unlikely to be a sign that enthusiasm over AI is fizzling.

    “These are price corrections,” said Andrew Almeida, director of investments at financial planning network XYPN. “But if you look at the big picture, it’s clear that more people will be investing more dollars in AI infrastructure. This is certainly not a ‘reckoning’ with the AI theme.”

    Investors also could be paring back their stock exposure during a traditionally rocky period for equities. August and September rank as the worst-performing months on average for the S&P 500 over the past 35 years, according to the Stock Trader’s Almanac.

    “Valuations were stretched, these names have not taken a breather, and we’re going into a tougher season for stocks,” said King Lip, chief strategist at Baker Avenue Wealth Management.

    Other sectors such as consumer staples, healthcare and financials were up on the week, while relative strength for the equal-weight S&P 500 signaled to some investors a possible start of broadening of gains beyond the massive tech stocks that have led indexes higher.

    Powell’s upcoming speech comes as Fed fund futures on Wednesday were indicating an 84% chance that the central bank will cut rates at its next meeting on September 16-17.

    Investors will be watching to see if Powell gives any indication that the central bank is on track for such a move or if he pushes back on the market’s expectation for easing, which could spark volatility. Tech stocks tend to carry higher valuations which could make them sensitive to higher-than-expected interest rates going forward.

    “There are a lot of people who have overweighted tech, and it has worked for them,” said Chuck Carlson, chief executive officer at Horizon Investment Services.

    “They don’t want to get caught on the wrong side of that if in fact, the Fed doesn’t do anything in September. So I think that is also causing (investors) to maybe not necessarily get out of tech, but to reduce the overweight a little bit.” Reuters

  • DeepSeek unveils upgraded AI model

    DeepSeek unveils upgraded AI model

    Chinese artificial intelligence startup DeepSeek on Thursday released DeepSeek-V3.1, an upgraded model with hybrid inference structure, faster thinking speed and stronger agent capability, the company said in a statement published on WeChat.

    The company will also adjust the costs for using the model’s API, a platform that allows developers of other apps and web products to integrate its AI models, starting September 6, the statement showed. Reuters

  • Russia mandates pre-install of state messenger app

    Russia mandates pre-install of state messenger app

    A Russian state-backed messenger application called MAX, a rival to WhatsApp that critics say could be used to track users, must be pre-installed on all mobile phones and tablets from next month, the Russian government said.

    The decision to promote MAX comes as Moscow is seeking greater control over the internet space as it is locked in a standoff with the West over Ukraine, which it casts as part of an attempt to shape a new world order.

    The Russian government said in a statement that MAX, which will be integrated with government services, would be on a list of mandatory pre-installed apps on all “gadgets,” including mobile phones and tablets, sold in Russia from September 1.

    State media says accusations from Kremlin critics that MAX is a spying app are false and that it has fewer permissions to access user data than rivals WhatsApp and Telegram.

    It will also be mandatory that from September 1, Russia’s domestic app store, RuStore, which is pre-installed on all Android devices, will be pre-installed on Apple devices.

    A Russian-language TV app called LIME HD TV, which allows people to watch state TV channels for free, will be pre-installed on all smart TVs sold in Russia from January 1, the government added.

    The push to promote homegrown apps comes after Russia said this month it had started restricting some calls on WhatsApp, owned by Meta Platforms, and on Telegram, accusing the foreign-owned platforms of failing to share information with law enforcement in fraud and terrorism cases.

    WhatsApp, which in July had a reach of 97.3 million in Russia, responded by accusing Moscow of trying to block Russians from accessing secure communications, while Telegram, which had a reach of 90.8 million users, said it actively combats the harmful use of its platform.

    The third most popular messenger app in July, according to Mediascope data, was VK Messenger at 17.9 million people, an offering from the same state-controlled tech company VK which developed MAX.

    MAX said this week that 18 million users had downloaded its app, parts of which are still in a testing phase.

    Russia’s interior ministry said that MAX was safer than foreign rivals, but that it had arrested a suspect in the first fraud case using the new messenger. Reuters

  • Baidu misses revenue estimates on ad slump

    Baidu misses revenue estimates on ad slump

    Chinese search engine giant Baidu, reported a drop in second quarter revenue as its core advertising business struggled amid China’s economic slowdown, offsetting strong growth in cloud services.

    The company reported total revenue of 32.71 billion yuan ($4.56 billion) during the three months ended June 30, down 4% from the same period a year earlier. Analysts on average estimated second quarter revenue at 32.76 billion yuan, according to data compiled by LSEG.

    On an adjusted basis, Baidu posted a profit of 13.58 yuan per American Depositary Share (ADS), beating expectations of 13.12 yuan.
    Baidu’s U.S.-listed shares were up 1.3% in premarket trading.

    Hit by a property market downturn, weak employment rates and choppy consumer demand, companies in China, the world’s second-largest economy, have reined in advertising spending to cut costs and protect their margins.

    The squeeze has spilled over into Baidu, which relies heavily on advertising in its search engine. Its core online advertising business, which typically makes up 60% of overall company revenue, saw revenue decrease 15% to 16.2 billion yuan during the April-June quarter.

    That eclipsed upbeat growth at the Beijing-based company’s AI cloud segment, which drove a 34% increase in Baidu’s non-online advertising business.

    Baidu has invested heavily in artificial intelligence in recent years. Last month, it launched a redesigned search interface that it called the biggest overhaul in a decade.

    It has also expanded AI services, recently launching MuseSteamer, an AI-powered video generator for businesses. It has also open-sourced a version of its flagship Ernie model as it competes with rivals including DeepSeek, which disrupted the global AI industry earlier this year with lower-cost models. Reuters

  • Disney’s ESPN app targets cord-cutters

    Disney’s ESPN app targets cord-cutters

    Walt Disney’s ESPN will deliver its full range of sports programming outside of pay TV for the first time starting on Thursday, when the network debuts an app designed to be a hub for live games and personalized news, stats and highlights.

    The ESPN app is Disney’s effort to capture some of the tens of millions of customers that the pioneering sports channel has lost since 2010 during the streaming TV revolution.

    ESPN executives said they have tailored the new offering, which is far broader than the limited ESPN+ app launched in 2018, to cater to the tastes of today’s sports fans.

    “We know that fans don’t just want to watch,” ESPN Chairman Jimmy Pitaro told reporters. “They want an experience. They want to interact.”

    The app will offer more than 47,000 live events each year from the NFL, NBA, WNBA, NHL, college football, tennis, golf and other sports. It will cost $30 per month. An introductory offer will include ad-supported versions of the Disney+ and Hulu streaming services for free.

    Fans can enter their favorite teams and sports for customization such as a personalized version of the “SportsCenter” news and recap show. Artificial intelligence will generate narration based on the voices of ESPN anchors.

    A new feature called “Verts,” or scroll-ready, vertical video highlights, also can be tailored. Stats for a user’s fantasy players will be displayed next to live games. And an ESPN Bet tab will show live, settled and upcoming bets for users who have linked their betting accounts.

    Disney Chief Executive Bob Iger has called the app “a sports fan’s dream.”

    Industry analysts see it as a chance for the company to pick up fans who do not subscribe to cable, and they do not expect it will pull masses from pay TV. ESPN was available in 100 million homes through pay TV in 2010. In July of this year, that number stood at about 61 million.

    “It’s another step in Disney’s pivot to (streaming) and the importance to streaming to the overall company,” said MoffettNathanson analyst Robert Fishman.

    ESPN will promote the app extensively. Actor John Cena will star in commercials that stress “All of ESPN. All in One Place.”

    Pay television will “remain a big part” of ESPN’s business, Pitaro said. For the quarter that ended in June, ESPN accounted for $1 billion of Disney’s $4.6 billion in operating income, or nearly 22%. Most of ESPN’s revenue came from fees paid by cable and satellite distributors and from advertising.

    Subscribers to pay TV will have access to the new ESPN app. Pitaro said the company hoped to drive all of its customers to the app “because that’s by far the best, the most holistic experience.” Yahoo