Now, Nizam’s daughter stakes claim to Rs 2,000 crore assets

Jerusalem, Jul 23: Merging Israel's technological expertise with India's mass production capabilities, experts from the two countries have joined hands to develop rapid testing for Covid-19 in under 30 seconds.

Israel will soon send a high-level research delegation to India to conduct a series of "final stages of testing" as part of the joint effort to develop the rapid testing kits for Covid-19 .

A high ranking team from the Directorate of Defence Research and Development (DDR&D), in the Ministry of Defense, which has been working with India's DRDO to develop rapid testing for Covid-19 in under 30 seconds, is to leave from Tel Aviv to New Delhi on a special flight in a few days, Israel's Ministry of Defence said in a statement on Thursday.

Israel's Ministry of Foreign Affairs (MFA) and Ministry of Health are also involved in this unprecedented cooperation between the two countries which aims at "merging Israeli technology with Indian development and production capabilities to allow a swift resumption of normal life alongside the virus".

The DDR&D team will conduct a series of "final stages of testing" to determine the effectiveness of a number of rapid diagnostic solutions with their Indian counterparts.

Since the start of the pandemic, the DDR&D has tested dozens of diagnostic technologies. Some of them have matured and passed initial trials in Israel, however in order to complete testing and prove their effectiveness, these must be tested on a wide range of patients, IMoD said.

The four tech systems that will be tested are - voice test, breathalyzer test based on terra-hertz waves, isothermal test, and polyamino acids test.

"What they all have in common is the ability to detect the presence of the virus in the body quickly- usually within minutes. Developing diagnostic capabilities is a goal for the State of Israel and of many additional countries around the world. It is the most effective way to cut off 'chains of infection', prevent prolonged quarantine and enable the reopening of the global economy," the statement said.

"We hope that the research and development led by the DDR&D together with our excellent industries and academic institutions, will lead to a breakthrough that will change the way we diagnose and fight the virus, while giving the boost necessary to 'restart' our economy," Defense Minister Benny Gantz said.

Foreign Minister Gabi Ashkenazi noted that this cooperation provides a unique opportunity for scientific and technological cooperation that can assist Israel, India and the world in coping both with the pandemic and with the economic crisis that came with it.

The cooperation between Israel and India will enable the delegation and its Indian counterparts, to collect tens of thousands of samples in just ten days, and analyze them using computer systems based on artificial intelligence. This massive sampling will shorten processes and advance the approval of effective technology. All tests will be validated using PCR tests.

"The cooperation between India and Israel on Covid-19 is a good example of harnessing the scientific and technological strengths that the two countries have for larger, common good. It will also further deepen our strategic ties,” India's Ambassador Sanjeev Singla told PTI.

The flight will be carrying some breakthrough emerging Israeli technologies for combatting Covid-19, which have been donated by the Israeli foreign ministry and the private sector, in order to bolster India’s response to the virus outbreak.

The plane will also deliver mechanical ventilators which were given special permission by Israel for export to India.

Prime Minister Narendra Modi and his Israeli counterpart Benjamin Netanyahu have held three telephonic conversations since the outbreak of the pandemic and promised mutual assistance in dealing with the virus, committing to joint technological and scientific research between the countries.

The Israeli media widely reported that Modi lifted a ban on the export of Hydroxychloroquine at Netanyahu's request.

"The past few years have cemented the strategic relations between India and Israel and have included two historical visits of the Prime Ministers in Israel and in India," a press statement from the ministry of defence said.

"India seeks to integrate advanced technologies in its hospitals as they prepare to treat massive waves of Covid-19 patients on an Indian scale. The Israeli companies chosen by the MFA, MOD and Israel Defence Forces to be sent to India are potentially given unique access to one of the largest economies in the world to provide monitoring and treatment technologies while significantly reducing contact between the patients and the medical staff," it said.

"By opening the door to India’s market with its development and production capabilities, these Israeli technologies can be mass produced at a lower cost and could in future be jointly exported to third countries," it said.

"The COVID-19 pandemic is a global challenge, so it is only right that the solution be a global scientific cooperation between countries. India and Israel’s military R&D cooperation is well known for its success. I have no doubt the same will be seen in the private sector joined by brilliant scientific minds from both countries to introduce a breakthrough in swift and simple testing procedures,” said Prof. Nati Keller, an infectious diseases specialist from Sheba Medical Center, who is leading the medical side of the delegation.

New Delhi, Jul 16: With India's economic growth sputtering, the Reserve Bank of India was expected to maintain a rate-cutting cycle, but an uptick in near-term inflation could give the central bank's Monetary Policy Committee reason to pause for now.

Having cut its key lending rate by an aggressive 115 basis points (bps) in 2020, on top of 135 bps cuts in 2019, the RBI so far has had little success in spurring credit growth amid varying degrees of lockdowns across India.

Some economists and market insiders argue it may be prudent for the MPC, the policy committee, to hold its fire when it meets early next month.

"It's probably too early to administer a demand stimulus. The RBI still has room to cut rates, but we probably want to be more cautious of the timing," said Venkat Pasupuleti, portfolio manager at Dalton Investments.

"Maybe they should wait a quarter to see how things pan out once the lockdown situation is eased further."

Market participants have factored in at least a 25 bps rate cut by the MPC on August 6 while analysts are predicting a total 50-75 bps cuts over the rest of the fiscal year that runs to March 31.

The spike in the retail inflation rate above the RBI's mandated 2%-4% target range is another reason for the central bank to take a breather, analysts say.

Annual retail inflation rose to 6.09% in June, compared to 5.84% in March and sharply above a 5.30% median forecast in a Reuters poll of economists.

Rahul Bajoria, an economist at Barclays, said the spike in both consumer and wholesale prices "could lead to a tempering in enthusiasm for material front-loaded policy support from here on."

Almost all economists however agreed the RBI cannot move away from its accommodative stance or call an end to the rate cutting cycle just yet.

India's economy grew at 3.1% in the March quarter - an eight year low - and some economists have predicted a contraction of more than 20% in the June quarter and a contraction of up to 5% in the fiscal year.

"Even in the event of a pause, we think the RBI and MPC would want to hold out the promise of more cuts," said A. Prasanna, economist with ICICI Securities.

RBI Governor Shaktikanta Das said in a recent speech the need of the hour is to restore confidence, preserve financial stability, revive growth and recover stronger, suggesting inflation concerns are unlikely to deter the downward trajectory for rates too soon.

"The August policy decision would boil down to a judgment call over whether RBI can maintain easy monetary and financial conditions without the aid of a token rate cut," Prasanna said. 

United Nations, Apr 16: WHO chief Tedros Adhanom Ghebreyesus has welcomed the world health body's cooperation with India to leverage strategies that helped the country win its war against polio into the response to COVID-19 outbreak, saying such joint efforts will help defeat the pandemic.

The World Health Organization (WHO) has said it will work with India's Ministry of Health and Family Welfare to leverage the strategies that helped the country eradicate polio to fight the pandemic.

Migrants who returned to UP and Bihar were hurriedly housed in schools and panchayat buildings, which were turned into quarantine centres. However, unhygienic conditions and people running away have proved to be a problem

The WHO's national polio surveillance network will be engaged to strengthen COVID-19 surveillance and its field staff will continue to support immunization and elimination of tuberculosis and other diseases.

“Great news: @MoHFW_INDIA & @WHOSEARO initiated a systematic engagement of @WHO's national polio surveillance network, and other field staff, for India's #COVID19 response, tapping into the best practices & resources that helped win its war against polio,” the WHO director-general tweeted, referring to India's Ministry of Health and Family Welfare and World Health Organization Regional Office for South-East Asia.

According to the Johns Hopkins University data, over 2 million people are infected by the virus and more than 136,000 people have died of the disease globally.

Ghebreyesus expressed gratitude to Health and Family Welfare Minister Harsh Vardhan “for his leadership and collaboration” with WHO. “Through these joint efforts we can defeat the #coronavirus and save lives. Together!”

India eliminated polio in 2014.
According to a WHO press release, Vardhan said in New Delhi that “time and again the Government of India and WHO together have shown our ability, competence and prowess to the whole world. With our combined meticulous work, done with full sincerity and dedication, we were able to get rid of polio.”

“All of you in the field – IDSP (Integrated Disease Surveillance Project), state rapid response teams and WHO - are our ‘surveillance corona warriors'. With your joint efforts we can defeat the coronavirus and save lives,” Vardhan added.

WHO South-East Asia Regional Director Poonam Khetrapal Singh said the National Polio Surveillance Project (WHO-NPSP) played a critical role in strengthening surveillance for polio that generated useful, timely and accurate data to guide policies, strategies and interventions until transmission of the poliovirus was interrupted in the country,” adding that the other WHO field staff involved with elimination of tuberculosis and neglected tropical diseases and hypertension control initiative were also significant resources.

Singh added that “it is now time to use all your experience, knowledge and skills, with the same rigor and discipline that you showed while monitoring polio activities, to support districts with surveillance, contact tracing and containment activities.”

The WHO release said strengths of the NPSP team – surveillance, data management, monitoring and supervision, and responding to local situations and challenges – will be utilized to supplement efforts of National Centre for Disease Control, IDSP and Indian Council of Medical Research to strengthen COVID-19 surveillance.

The NPSP team will also support in sharing information and best practices and help states and districts calibrate their response based on transmission scenarios and local capacities.

The WHO field staff will continue to support immunization and surveillance and elimination of Tuberculosis and Neglected Tropical Diseases, Singh said, adding, “disease outbreaks can negatively impact progress in a range of areas, from maternal and child mortality to vaccine-preventable diseases and other treatable conditions. India had been making stupendous progress in these areas and we cannot afford for India's remarkable progress to be set back or reversed.”