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Friday,30-July-2021

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AWS introduces Amazon HealthLake for healthcare organisations

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Amazon

Amazon Web Services (AWS), the cloud computing business of e-commerce giant Amazon, has introduced Amazon HealthLake, a new service to enable healthcare organisations to store, transform, and analyse all of their data in the cloud.

Amazon HealthLake aggregates an organisation’s complete data across various silos and disparate formats into a centralised AWS data lake and automatically normalises this information using machine learning, the company said the AWS re:Invent conference on Tuesday.

The service makes it easier for customers to query, perform analytics, and run machine learning to derive meaningful value from the newly normalized data.

Organisations such as healthcare systems, pharmaceutical companies, clinical researchers, health insurers, and more can use Amazon HealthLake to help spot trends and anomalies in health data.

This can help them make much more precise predictions about the progression of disease, the efficacy of clinical trials, the accuracy of insurance premiums, and many other applications, AWS said.

“With Amazon HealthLake, healthcare organizations can reduce the time it takes to transform health data in the cloud from weeks to minutes so that it can be analyzed securely, even at petabyte scale,” said Swami Sivasubramanian, Vice President of Amazon Machine Learning for AWS.

“This completely reinvents what’s possible with healthcare and brings us that much closer to everyone’s goal of providing patients with more personalized and predictive treatment for individuals and across entire populations.”

AWS said that Cerner, Ciox Health, Konica Minolta Precision Medicine, and Orion Health are among the customers using Amazon HealthLake.

Business

HC allows commercial suit of Rs 938cr against NSEL defaulter NK Proteins

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The National Spot Exchange Ltd (NSEL) has got a shot in the arm with the Bombay High Court converting its suit for recovery of Rs 937.89 crore against NK Proteins and others into a commercial suit which would ensure stringent procedural formalities for speedy disposal of the case against the defaulter.

In its order, the court came down very heavily on NSEL largest defaulter NK Proteins Group for opposing the conversion of a regular suit into a commercial suit.

The High Court observed that the present case fell under the definition of “Commercial Dispute” under the Commercial Courts Act, 2015, which requires urgent and quick resolution of the matter.

The court’s ruling, on the application made by NSEL in September 2015, set the way for priority hearing that the Commercial Courts Act demands.

Notably, the Commercial Courts Act contains extensive rules of procedure and provides for mechanisms for fast-tracking the matter. It sets strict timelines and endeavours to make attempts at delaying the suit exceedingly difficult and expensive.

In a statement, the NSEL said the order recorded opposition by defaulting entity as “bereft of substance” and “opposition for the sake of it”.

“The High Court order is a major boost to NSEL’s fight against defaulters and strengthens its efforts in recovering the defaulted money,” it added.

NK Proteins Ltd is one of the largest defaulters in the Rs 5,600 crore NSEL payment default crisis with a liability of Rs of about Rs 935 crore.

Last week, an order by the Punjab and Haryana High paved the way for a criminal investigation against NSEL defaulter LOIL Group and an arrest of its owners Balbir Uppal and Janak Raj Singh for the recovery of Rs 720.31 crore.

“NSEL is getting booked all the defaulters one-by-one under the law, who were let go scot-free by the then Forward Markets Commission Chairman Ramesh Abhishek in 2013, in conspiracy with the then Additional Secretary in Department of Economic Affairs K.P. Krishnan and former Finance Minister P. Chidambaram,” said the company.

Pointing out that the NSEL payment default was an engineered crisis, the company said it was solvable, though it was not solved by then FMC Chairman Ramesh Abhishek who conspired with K.P. Krishnan and P.Chidambaram.

“Even though the Economic Offences Wing, Mumbai, had submitted its report, Ramesh Abhishek deliberately did not take any action against the defaulters and brokers. He let every broker and defaulter escape scot-free,” NSEL alleged.

Despite being unjustly targeted, it stated, NSEL had been continuously striving to recover the default amount from the 22 defaulting entities, which has resulted in obtaining the decree of Rs 3,364.71 crore and crystallisation of liability by the High Court Committee to the tune of over Rs 930 crore.

NSEL said the entire recovery process has been possible on account of its single-handed efforts and added that the Decrees were under execution at respective jurisdictions across India where it has achieved injunction or attachment in the Execution Proceedings as well.

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Business

To clear debts, Axis Bank manager loots ICICI branch, kills officer

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ICICI-Bank

In a shocking incident, an Axis Bank Branch Manager allegedly committed an unsuccessful heist on the ICICI Bank and stabbed a deputy branch head there to death, police said here on Friday.

The incident happened late on Thursday around 8.00 p.m., after the close of banking hours at the ICICI Bank’s Virar East Branch.

According to Virar Police Station Senior Police Inspector Suresh Warade, the accused Anil Dubey — the Naigaon Axis Bank Branch Manager, who was a former longtime employee of ICICI Bank, has been arrested.

In the scuffle that ensued between Dubey and the ICICI Bank Deputy Manager Yogita Nishant Choudhary, and her cashier colleague Shraddha Devrukhkar, he allegedly stabbed them both before attempting to flee with the bag full of the looted booty, but was caught outside by the locals.

While Vartak, 36, succumbed to her injuries later, Devrukhkar, 32, is undergoing treatment at a local hospital and further probe is on in the sensational case, said Warade.

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Toyota to raise price of Innova Crysta

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Innova-Crysta

Automobile major Toyota Kirloskar Motor will raise the price of its flagship model, Innova Crysta.

Accordingly, the price will be raised by up to 2 per cent, effective August 1, 2021. The company cited rising input costs as the key factor behind the price hike.

“This increase is necessitated to partially offset the substantial increase in input costs,” the company said in a statement.

“The price increase has been tapered down considering the impact on our valued customers,” it added.

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