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People cutting spends on health, grocery as fuel prices bite, say SBI economists

by | Jul 13, 2021 | , , , ,

”As consumers are spending more on fuel, it is crowding out expenses on health. Our analysis of SBI card spends indicates that spend on non-discretionary health expenditure has been substantially reduced to accommodate increased expenditure on fuel,” group chief economic adviser Soumya Kanti Ghosh said.

”In fact such spending has more than crowded out the spending on other non-discretionary items, like grocery and utility services to such an extent that the demand for such products has significantly declined,” he added.

China tightens control over cybersecurity in data crackdown

by | Jul 13, 2021 | , , , , ,

Beijing is increasingly sensitive about control over information about its people and economy. Companies are barred from storing data about Chinese customers outside China. Companies including ride-hailing service Didi Global Inc, which recently made its US stock market debut, have been publicly warned to tighten data security.

Under the new rules, anyone in China who finds a vulnerability must tell the government, which will decide what repairs to make. No information can be given to “overseas organisations or individuals” other than the product’s manufacturer.

Medicare evaluating coverage for $56,000 Alzheimer’s drug

by | Jul 13, 2021 | , , ,

“We want to consider Medicare coverage of new treatments very carefully in light of the evidence available. Our process will include opportunities to hear from many stakeholders, including patient advocacy groups, medical experts, states, issuers, industry professionals, and family members and caregivers of those living with this disease” CMS( Centers for Medicare and Medicaid Services) Administrator Chiquita Brooks-LaSure said in a statement

Maha unveils new EV policy, sets 10 pc share in total registrations by 2025

by | Jul 13, 2021 | , , ,

”The policy has some ambitious targets. Electric vehicles must comprise at least 10 per cent of total vehicles registered by 2025. We also want to achieve 25 per cent EV share in public transport in Mumbai, Pune, Nagpur, Aurangabad and Nashik. It includes converting 15 per cent of the MSRTC fleet into EVs by 2025. We also intend to make Maharashtra the top producer of battery driven EVs in India in terms of annual production capability,” Singh said.

‘Sputnik, AstraZeneca mix & match results by end of July’

by | Jul 13, 2021 | , , , ,

This approach has been really pioneered by Sputnik V in the beginning. So we are open for mix and match a Covishield in India. We believe there will be a great result. Covishield is the same vaccine as AstraZeneca so we believe that trials will show high efficacy. We hope that the Serum Institute of India (SII) can produce Sputnik V and mix and match as well. It will be a true partnership,” said Dmitriev.

Billionaire Branson soars to space aboard Virgin Galactic flight

by | Jul 12, 2021 | , , , ,

The Swiss-based investment bank UBS has estimated the potential value of the space tourism market reaching $3 billion annually by 2030. Proving rocket travel safe for the public is key.
Virgin Galactic’s CEO Michael Colglazier.said 600 wealthy would-be citizen astronauts have also booked reservations, priced at around $250,000 per ticket for the exhilaration of supersonic flight, weightlessness and the spectacle of spaceflight.

British billionaire Richard Branson has said he aims ultimately to lower the price to around $40,000 per seat as the company ramps up service, achieving greater economies of scale. Colglazier said he envisions eventually building a large enough fleet to accommodate roughly 400 flights annually at the spaceport.

Zika Virus Disease: Karnataka intensifies vector control measures

by | Jul 12, 2021 | , , , ,

“In view of reporting of Zika Virus Disease (ZVD) in the neighboring State of Kerala, it is crucial to intensify the vector control measures in Karnataka also. The current monsoon season supports the widespread proliferation of Aedes mosquito, which is a vector for Zika Virus Disease,” a circular by the Commissionerate of Health & Family Welfare Services said.

India wants rich countries to pay more for green energy shift

by | Jul 12, 2021 | , , , ,

“Every policy decision has a cost to the economy. Going net-zero or using less carbon also has a cost,” Environment Secretary Rameshwar Prasad Gupta said in an interview at his New Delhi office. “We are not anti-net-zero. But without adequate climate finance being definitively available, we can’t commit on that part.”

MBBS students may soon have to take internship in Ayush: NMC draft rule

by | Jul 12, 2021 | , ,

For Ayush, the NMC mentioned that interns can choose any elective from Ayurveda, Yoga, Unani, Siddha, Homeopathy and Sowa Rigpa for a week.

There will be 17 postings which MBBS students have to complete over a period of 12 months after graduation. Of the 17 postings, 14 are mandatory and three are electives. The training in Indian systems of medicine are among the electives, the draft regulation said.

As China’s population greys, the burden of care weighs on families

by | Jul 12, 2021 | , , , ,

China had 264 million citizens aged 60 and older in 2020, a number set to increase rapidly just as the working population shrinks. HNA Investment Group opened Heyuejia in 2016 as part of efforts to “respond to China’s aging crisis,” according to a company statement.

Helped by government subsidies, more than 40,000 registered homes have been built in recent decades. But many are too expensive or too low quality to replace family care, experts say. Some facilities have long waiting lists. But most are quite empty – average occupancy rates are as low as 50%, official data suggests, far lower than the 80%-90% rates seen in Japan or the UK

AXA introduces “LoveAssure Critical Illness Protection” Series in Hong Kong

by | Jul 12, 2021 | , ,

According to the data from the Food and Health Bureau and the Hong Kong Hospital Authority, it is estimated that for people aged 65 or above, there is a worrying 5-8% chance of getting dementia and the prevalence of dementia doubles with every 5-year increment after age 65. Due to the irreversible nature of dementia and the heavy dependence on support services, the cost of care and the burden on caregivers will keep growing with an ageing population and increase of dementia cases.
Moreover, despite the improved cancer survival rate due to advancements in medical technology, cancer recurrence rate is still high, for example, colorectal and ovarian cancer recurrence rate can reach as high as 50% and 80% respectively2.