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Singapore’s Ministry of Health Commits SG$200 Million to AI-Driven Healthcare Innovations

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The Singaporean Ministry of Health (MOH) has announced a significant investment of SG$200 million (approximately $150 million) over the next five years to enhance the implementation of AI technologies across the country’s healthcare system. This financial boost is part of the MOH Health Innovation Fund, aimed at advancing technological innovations and expanding AI integration into system-wide, national projects. Key Initiatives Supported by the Investment: Generative AI for Record Automation: A major focus of the funding will be a generative AI project designed to automate the updating of medical records. The MOH plans to roll out this project across the public healthcare system by the end of 2025, with the goal of streamlining administrative tasks such as documentation and the summarisation of medical records. AI in Medical Imaging: The MOH will also invest in medical imaging AI for early detection of breast cancer. This technology, currently undergoing validation, is expected to be adopted as part of a national subsidised screening programme by the end of 2025. The initiative will enhance early detection and diagnosis through advanced AI-assisted imaging tools. Broader Trends in Singapore’s AI-Driven Healthcare: Singapore’s healthcare system has been making strides in integrating AI and generative AI (genAI) technologies, backed by the government. The national health tech agency Synapxe has expanded its partnership with Microsoft, working on projects like Secure GPT for Healthcare Professionals, which develops large language models (LLMs) for healthcare applications. The National University Health System (NUHS) has also developed RUSSELL-GPT, an AI chatbot that summarises patient case notes and generates referral letters. Additionally, Singapore General Hospital is exploring genAI use in pre-surgery assessments, and hospitals under SingHealth have adopted chest X-ray analysis AI through AimSG, a national radiology AI platform. The platform, launched last year, allows hospitals to integrate validated AI tools into their workflows. Genetic Testing Programme: The MOH also announced plans to launch a national genetic testing programme by mid-2025, with a focus on Familial Hypercholesterolemia, a genetic condition affecting cholesterol levels. This marks another step towards incorporating advanced technology into personalised healthcare. Strengthening AI Governance: As AI becomes more central to Singapore’s healthcare system, the MOH is committed to improving national governance for AI use in healthcare. The ministry emphasized the need to balance innovation with safety, ensuring that new AI solutions are implemented securely and deliver safe care to patients. Conclusion: Singapore’s investment in AI-driven healthcare innovations demonstrates its forward-thinking approach to enhancing healthcare delivery. With a focus on automation, early detection, and improving overall patient care Source: Business Standard

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Australia Reaches Agreement with World Aquatics on Governance Reform

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Swimming Australia (SA) has reached an agreement with World Aquatics to resolve governance issues that could have led to its suspension by the global governing body. The agreement, announced on Monday, introduces significant reforms aimed at enhancing athlete and club representation in decision-making processes. Key Outcomes of the Agreement: Enhanced Voting Rights for Athletes and Clubs: The new agreement involves an updated SA constitution, which will allocate 50% of voting rights at future annual general meetings to athletes and clubs. This move ensures greater involvement of those directly engaged in the sport, fostering a more inclusive governance model. Positive Reception from SA: Hayden Collins, co-chair of the SA Board, expressed gratitude for the support from member organizations and emphasized the significance of the resolution. “We are delighted to have been able to reach this outcome today and thank the member organisations for their support in bringing this to a resolution,” Collins stated. The finalization of the revised constitution is expected by Christmas, marking a new chapter for Swimming Australia. Global Recognition from World Aquatics: Brent Nowicki of World Aquatics praised the outcome, highlighting the importance of giving the swimming community more control. “We are pleased that 50% of the voting rights now sit with the community the sport is there to serve, the athletes and clubs,” Nowicki said. He added that this governance model is likely to set a global standard for best practices across other sports organizations. This agreement between Swimming Australia and World Aquatics represents a significant step toward more inclusive governance, ensuring that athletes and clubs have a stronger voice in shaping the future of the sport. With these reforms, Swimming Australia moves forward with a governance structure that prioritizes those it serves, establishing a model that may influence similar reforms worldwide.

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CCI’s M&A Overhaul: Stricter Scrutiny, Faster Approvals Under New Rules

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India’s merger and acquisition (M&A) landscape has undergone a significant transformation with the recent amendments stemming from the Competition (Amendment) Act, 2023. Notified on September 9, 2024, these changes introduce stricter regulatory scrutiny while aiming to enhance ease of doing business. The new framework sets clear deal value thresholds, accelerates decision-making processes, and broadens the definition of control, aligning India’s regime with global standards. Key Highlights of the Revised M&A Framework: Deal Value Thresholds: Under the revised rules, any M&A valued above Rs 2,000 crore ($240 million) must be notified to the Competition Commission of India (CCI), provided the target has “substantial business operations” in India. This includes if the target’s Indian turnover or gross merchandise value (GMV) exceeds Rs 500 crore ($60 million) or constitutes at least 10% of global figures. Expedited Timelines: The CCI’s timeline for reviewing mergers has been shortened. The initial review period has been reduced from 30 working days to 30 calendar days, and the overall review period has been shortened from 210 to 150 days. This move promises faster clearances, benefiting businesses looking for speedier consolidation. Expanded Definition of ‘Control’: The new framework expands the definition of control to include the “ability to exercise material influence” over the management or strategic decisions of another entity. This change may bring more M&A transactions under CCI’s purview, ensuring that influential stakeholders are properly scrutinized. Exemptions for Minority Acquisitions: Acquisitions involving less than 25% of shares or voting rights that do not result in a change of control are now exempt from pre-merger notifications, easing the regulatory burden for smaller or unsolicited acquisitions. Higher Filing Fees: The filing fee for Form I has increased from Rs 20 lakh to Rs 30 lakh, while Form II fees have gone up from Rs 65 lakh to Rs 90 lakh, reflecting the more stringent review processes. Appointment of Monitoring Agencies: To ensure compliance with CCI’s orders, monitoring agencies such as accounting firms and management consultancies can be appointed. These agencies will be responsible for reporting any non-compliance with CCI directives. India’s revamped M&A regime signifies a new era of accountability, oversight, and efficiency. The introduction of deal value thresholds, expedited timelines, and enhanced exemptions point to a more sophisticated regulatory landscape. While these changes introduce additional compliance layers, they also promote transparency, making India an attractive destination for global and domestic investments. Businesses must adapt to these new rules, navigating both challenges and opportunities to benefit from the more streamlined M&A process. Source: Business Standard

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Schools in Bengaluru Closed Due to Heavy Rains, Safety Measures Implemented for Colleges

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In response to the heavy rainfall battering Bengaluru, the District Collector has declared a holiday for all Anganwadis and schools in the city on Monday, October 21. The decision was made as a precautionary measure to ensure the safety of students. However, higher education institutions, including degree programs, postgraduate courses, diplomas, engineering colleges, and ITIs, will remain operational. Special Instructions for Colleges While colleges continue to hold classes, authorities have issued specific guidelines to ensure safety amid the downpour. College heads have been instructed to avoid conducting lectures in weak or dilapidated buildings, prioritizing the structural integrity of campuses. They are advised to inspect the condition of their buildings and take necessary precautions to prevent accidents. Making Up for Lost Learning Time To compensate for the lost instructional time caused by school closures, the District Collector has directed schools to hold extra classes on Saturday afternoons or Sundays. This ensures that students can catch up without falling behind in their studies. Safety Precautions for Students Parents and college administrators have been urged to ensure that students avoid waterlogged areas and low-lying regions, as these areas are prone to flooding. Additionally, the safety of vehicles used by students to travel to and from colleges must be ensured. The authorities have also recommended that colleges provide students with information on how to deal with natural calamities. Weather Forecast and Alerts The India Meteorological Department (IMD) has predicted continued rainfall for Bengaluru over the next two days, with a generally cloudy sky, moderate rain, and occasional heavy thundershowers. The temperature is expected to remain between 20°C and 26°C. A yellow alert has been issued for 11 districts across Karnataka, including Uttara Kannada, Udupi, Belagavi, Dharwad, Haveri, Gadag, Shivamogga, Chikkamagaluru, Hassan, Kodagu, Chitradurga, Davangere, and Tumakuru, due to the forecast of heavy rainfall until October 21. Authorities are closely monitoring the situation as they take steps to mitigate the impact of the weather on residents and educational institutions. Source: Hindustan Times

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IIM Lucknow Partners with TalentSprint to Launch 10-Month Executive Program in Sales and Marketing

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The Indian Institute of Management Lucknow (IIM Lucknow) has announced a strategic collaboration with TalentSprint to offer an innovative 10-month Executive Program in Sales and Marketing. This program is tailored for working professionals, combining IIM Lucknow’s academic expertise with TalentSprint’s proficiency in delivering online executive education. Meeting the Demands of a Customer-Centric Future As businesses increasingly shift towards customer-centric models, the importance of aligning sales and marketing functions has become more crucial than ever. A recent Forbes report states, “The future of business is customer-centric, driven by technology.” This is especially relevant in sales and marketing, where personalized customer experiences are key to success in 2024 and beyond. In light of these evolving demands, IIM Lucknow’s Executive Program, designed in collaboration with TalentSprint, prepares professionals to anticipate customer needs, build resilient brands, and foster cross-functional integration for organizational growth. Breaking Down Silos in Sales and Marketing The traditional division between sales and marketing is no longer viable in today’s dynamic marketplace. Professionals must adopt a holistic approach that encourages collaboration between these two vital functions. IIM Lucknow’s program focuses on equipping participants with the necessary tools to deliver consistent value throughout the customer journey by fostering innovation, agility, and cross-functional cooperation. A Career-Accelerating 10-Month Program The program offers cutting-edge strategies and tools essential for thriving in a competitive business environment. With a focus on enhancing professionals’ capabilities, it aims to prepare participants for real-world challenges, helping them build stronger brands and drive organizational success. Sabyasachi Sinha, Chairperson of Management Development Programs at IIM Lucknow, highlighted the program’s flexible structure: “With executive-friendly weekend classes, over 150 hours of interactive sessions led by distinguished faculty, and a 5-day campus immersion experience, this program is crafted for busy professionals who are committed to advancing their careers.” A Forward-Thinking Approach to Education Dr. Santanu Paul, Founding CEO and MD of TalentSprint, emphasized the innovative nature of the program, stating, “Participants will gain not only the latest tools to navigate the digital landscape but also a strategic understanding of how sales and marketing functions interconnect in today’s business world.” This partnership between IIM Lucknow and TalentSprint marks a significant step in providing future-focused education that prepares professionals to excel in a customer-centric, technology-driven business environment. Source: Shiksha

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International Cricket Returns to Kashmir, Boosting Joy and Local Economy

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After a 40-year hiatus, international cricket made a historic return to Kashmir, filling the region with excitement and hope for the future. The recently concluded Legends League Cricket (LLC) T20 tournament in Srinagar’s Bakshi Stadium brought joy to cricket fans and stimulated the local economy, reigniting interest in international sporting events in the Valley. A New Experience for Kashmiris For Mohammad Basit, 25, returning home past midnight after watching a live match in Srinagar was a surreal experience. In a region where nightlife is rare due to years of conflict, the late-night atmosphere during the LLC matches provided an exhilarating shift for Kashmir’s youth, many of whom were born after the 1990s. “The announcement of the Legends League Cricket event in September thrilled me to the core,” Basit said. The LLC, a T20 cricket league featuring former international players, marked the revival of major cricket events in the Valley. Seven matches of the league’s third edition were played at the recently revamped Bakshi Stadium, which drew in thousands of fans from across the region. The final match between Southern Super Stars and Konark Suryas Odisha on Wednesday evening was a thrilling spectacle, with the stadium packed with over 27,000 enthusiastic spectators. A Thrilling Finale and Hope for IPL The Southern Super Stars triumphed in a dramatic Super Over, lifting the trophy in front of cheering fans. Mohammad Shahid, one of the attendees, expressed his excitement: “It was the first time I saw my favourite cricketers like Yusuf Pathan and Martin Guptill live in action.” Fans carried placards reading “IPL: Kashmir is ready” and “Kashmir wants King Kohli,” expressing hopes that the Indian Premier League (IPL) would soon come to the Valley. The current reception to the LLC was in stark contrast to the two ODI matches held in Kashmir in the 1980s, where tensions marred the atmosphere. Today, the Valley is eager to host more international events, reflecting a positive shift in public sentiment. “There has been a significant change now. The people want international events to be organised here,” said Mohammad Rafi, a local resident. Economic Boost from Sporting Events Beyond the joy for cricket fans, the LLC event provided a much-needed boost to local businesses. Hotels, restaurants, and transport services saw increased activity as spectators traveled to Srinagar from various parts of the country. Sheikh Ashiq, a prominent businessman and former president of the Kashmir Chamber of Commerce and Industries (KCCI), said, “These events have a positive impact on business. We are looking forward to hosting more such events.” Source: hindubusinessline

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Bahraich Police Warns Right-Wing Media Against Spreading Fake News Amidst Communal Clashes

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Following the recent communal clashes in Bahraich, Uttar Pradesh, local police have issued strict warnings against the dissemination of fake news, particularly by certain right-wing media outlets. The violence, sparked by a dispute over loud music during the Durga idol immersion procession on October 13, led to the death of 22-year-old Ram Gopal Mishra and left several others injured. Media outlets, including Aaj Tak and Zee News, have come under fire for allegedly spreading misleading information regarding Mishra’s death. Reports claimed that Mishra was subjected to brutal torture, including electric shocks and mutilation, before his death. Sudhir Chaudhary, a well-known journalist with a history of controversial reporting, echoed these false reports on Aaj Tak, suggesting Mishra’s death was the result of unprecedented violence against Hindus. The Bahraich police were quick to debunk these claims, stating that Mishra had died from gunshot wounds after being shot 20 times during the clashes. A video surfaced showing Mishra storming into a Muslim household and vandalizing the property before being shot. The police confirmed that the cause of death was solely due to bullet injuries, with no evidence of torture or mutilation. In response to the misinformation circulating on social media, the Bahraich police have issued public warnings on their official X-page, urging people not to spread false narratives that could escalate communal tensions. They emphasized that legal action would be taken against those found guilty of disseminating misleading information. The police clarified the situation through a statement: “Misinformation like electrocuting the deceased, killing him with a sword, and pulling out nails was spread on social media to disturb communal harmony. The postmortem clearly shows the cause of death was gunshot wounds. We urge everyone to refrain from spreading rumours and maintain peace.” The clashes and subsequent riots led to the suspension of internet services in Bahraich to prevent further unrest. Over 55 people have been detained, and the situation, while still tense, is gradually returning to normal. BJP MLA Shalabh Mani Tripathi also added fuel to the fire by targeting Muslim journalists in a controversial post, questioning their impartiality and accusing them of protecting rioters. His actions have been criticized for exacerbating communal tensions at a time when efforts are being made to restore peace. Source : Siasat Daily

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Sports Minister Mansukh Mandaviya Leads Discussions on Draft National Sports Governance Bill 2024

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Governance reforms, athlete welfare, and transparency in administration were the main points of discussion during a consultation meeting on the Draft National Sports Governance Bill 2024. The meeting, chaired by Sports Minister Mansukh Mandaviya, took place on Thursday and involved key stakeholders, including Indian Olympic Association (IOA) President P. T. Usha, representatives from National Sports Federations (NSFs), and National Sports Promotion Organisations (NSPOs). Mandaviya emphasized the significance of the bill, stating, “The Draft National Sports Governance Bill 2024 is a milestone in our mission to build a robust and transparent sports governance structure in India that aligns with international standards, including the Olympic and Paralympic Charter. The active involvement of stakeholders and the public is essential for shaping policies that reflect the aspirations of our sports community.” The minister outlined the key reforms proposed in the draft, which include empowering athlete-centric federations, introducing a Safe Sports Policy to protect athletes’ rights, and establishing an Appellate Sports Tribunal to address disputes. These measures aim to elevate athletes and strengthen India’s global position in the sporting world. The consultation saw active participation from various NSFs, NSPOs, and the IOA, with many appreciating the proposal to relax age and tenure caps for sports administrators. The draft bill proposes that office bearers of NSFs, including presidents, secretaries, and treasurers, can continue in their roles beyond the age of 70 if they have not completed their tenures. This move was widely regarded as a positive step toward improving the governance of Indian sports. “The minister said it’s a proactive and good step from our side to work in close coordination with all for the good of Indian sports,” a source at the meeting revealed. Other key issues discussed included safeguarding athlete rights, streamlining the operations of sports bodies, and enhancing India’s standing on the global sports stage. Mandaviya assured stakeholders that their suggestions would be carefully considered in refining the draft bill. The proposed reforms signal a significant shift toward a more transparent and athlete-friendly sports governance model in India. However, the ministry did not disclose the specific suggestions made by the stakeholders during the meeting. This consultation marks an important step in shaping the future of sports governance in the country, with the Draft National Sports Governance Bill 2024 expected to have far-reaching impacts on Indian sports. Source: Business Standard

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M&A Surge Marks Economic Recovery as 2025 Promises Further Growth

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In a year marked by rising interest rates and a slowdown in initial public offerings (IPOs), mergers and acquisitions (M&As) have gained renewed momentum, signaling a robust recovery for 2025. According to Dealogic data, M&A deals in Brazil reached R$195 billion as of October 2024, a 56% increase compared to the same period last year, surpassing 2023’s total of R$117 billion. Notable transactions include Prio’s acquisition of the Peregrino and Pitangola oil fields, the sale of Santos Brasil’s controlling stake to France’s CMA CGM for R$6.3 billion, and Oi’s fiber broadband portfolio sold to V.tal for R$5.7 billion. The year’s largest deal so far was Auren’s acquisition of AES for $3 billion. Sectors like infrastructure and oil and gas have seen significant activity, with upcoming concessions expected to boost deal flow through year-end. Agribusiness is also contributing, as restructuring in the sector drives M&A opportunities. Anderson Brito, director at UBS BB Investment Bank, notes that private equity funds are increasingly active, while foreign investors are showing renewed interest in Brazilian acquisitions. “We’re seeing investors comfortable with Brazil’s risk,” he said. Meanwhile, Bank of America’s Diogo Aragão points out that many deals that stalled in 2023 are now moving forward, reflecting a rebound from a low base. Despite the increase in volume, activity is still below the peak years of 2021 and 2022. However, banks are optimistic about 2025, with stronger pipelines and a positive outlook, bolstered by U.S. interest rate cuts and Brazil’s credit rating upgrade. Key sectors driving M&A activity include consumer goods, retail, and infrastructure, with a strong performance expected in the first half of 2025. Source: valorinternational.globo.com

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AI Governance Market to Reach USD 2761.3 Million by 2032 Driven by Ethical AI Practices and Regulatory Compliance

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The AI governance market is set to experience remarkable growth, projected to reach USD 2761.3 million by 2032, up from USD 160.4 million in 2023, according to a recent report by SNS Insider. This expansion, driven by a compound annual growth rate (CAGR) of 37.21% between 2024 and 2032, is largely fueled by the increasing adoption of artificial intelligence across various sectors and the need for robust frameworks that ensure ethical practices and regulatory compliance. Organizations worldwide are recognizing the importance of AI governance frameworks to address challenges such as data privacy, security, bias, and algorithmic transparency. Key industries like healthcare, finance, and government, where AI decisions have a direct impact on people and society, are leading the charge in implementing governance solutions. The rise of public-private partnerships is expected to further standardize governance practices, ensuring both accountability and transparency. As countries introduce regulations surrounding AI, companies are increasingly adopting AI governance solutions to stay compliant and minimize risks associated with AI technology deployment. According to the report, 80% of global organizations are actively monitoring regulatory developments related to AI, with many citing regulatory compliance as a key driver of their governance initiatives. Major players in the market, including IBM, Microsoft, Google, and Amazon Web Services (AWS), are at the forefront of developing AI governance solutions across industries. Startups and large enterprises alike are exploring ways to integrate governance frameworks that address the complexities of AI technology, contributing to the market’s rapid growth. North America leads the AI governance market, with Europe following closely due to its focus on ethical AI practices and data privacy regulations, such as the GDPR and the proposed AI Act. As AI continues to expand across industries, the demand for governance solutions is expected to rise, making the market a critical area of focus for businesses globally. Source: globenewswire.com

AI Governance Market to Reach USD 2761.3 Million by 2032 Driven by Ethical AI Practices and Regulatory Compliance Read More »