The Zika virus is spreading in Pune, with two more cases reported on Monday, bringing the total to six. Both new cases involve pregnant women in Erandwane. Initial cases included a doctor and his daughter from the same area. Health officials collected 25 samples, 12 from Erandwane, and 13 from Mundhwa, confirming two more infections. Pregnant women with Zika face higher risks, prompting increased surveillance and anomaly scans. Authorities are urging precautions against mosquito bites and monitoring symptoms to control the outbreak.
Wockhardt's stock soared 20% as Zaynich antibiotic treated a US cancer patient with Pseudomonas infection at Children's Hospital of Orange County. The drug's success enabled chemotherapy, highlighting its potential impact on cancer deaths and Wockhardt's financial outlook.
Steve Ballmer surpassed Bill Gates to become the sixth-richest person globally, as Microsoft shares hit a record high, gaining 21% this year. Ballmer's net worth reached $157.2 billion, mostly in Microsoft shares, while Gates' diversified $156.7 billion fortune includes investments through Cascade Investment. Gates' wealth has reduced due to philanthropy, having donated nearly $60 billion to the Gates Foundation. Ballmer, who hasn't signed the Giving Pledge, focuses on smaller-scale philanthropic efforts. Читать дальше...
EQT's Sagility India filed a DRHP for an IPO, offering 984 million equity shares. Sagility BV is the promoter. FY24 revenue reached ₹4,753 crore, setting the stage for a significant market debut.
OpenAI, led by Sam Altman, disrupts covert influence operations through identifying deceptive AI activities, contributing to a crackdown on misinformation in elections.
Niva Bupa Health Insurance files a ₹3,000 crore IPO, aiming to enhance solvency ratio and operating expenses. British United Provident Fund Bupa is an existing shareholder. TrueNorth-managed Fettle Tone LLP and Bupa Group play key roles in the IPO process.
Proposals under consideration include incentives to create employment, development of the care economy, and enabling easier access to finance to encourage more women to join the labour force, said people aware of the deliberations.
Sebi directs MIIs to implement a new charge structure for fair market access, ensuring transparency and equal treatment for all participants.
HDFC Bank shines with a 16% rally, surpassing Sensex performance. Market awaits MSCI EM Index rebalancing news on August 13, fueling anticipatory speculation.
US President Joe Biden criticized the Supreme Court's ruling granting former President Donald Trump substantial immunity from prosecution over alleged attempts to overturn the 2020 election. Biden called the decision a "dangerous precedent" and a "terrible disservice" to Americans, arguing that it undermines the principle that no one, including the president, is above the law. He emphasized the ruling's implications, suggesting it removes legal constraints on presidential actions and undermines the rule of law. Читать дальше...
Indians are driving luxury travel in the Asia-Pacific region, with 89% of them planning to spend more in the next 12 months. This is according to a report released Monday by Marriott International on high networth travellers in the Asia Pacific.
New-age companies are choosing to set up manufacturing facilities in neighboring states like Maharashtra and Tamil Nadu, bypassing Karnataka. More on this in today's ETtech Morning Dispatch.
Delhi Airport was preparing to start operations at a new terminal by the middle of July, but permission will now be given only after a thorough examination of the structure is complete, which may take more than a month, the people said."In the meantime, all flights have been accommodated at terminals 2 and 3," said an official, requesting anonymity.
Asian stocks fluctuated amid US election uncertainty. Markets in Japan, Australia, and South Korea remained stable. Yields on 10-year Treasuries held steady. Wall Street edged higher with tech megacaps leading the rally. The Democratic National Committee considers early Biden nomination. Supreme Court ruling on Trump's immunity affects the election. Fiscal deficit policies are investors' focus.
India and Bangladesh have strengthened their defence ties through a new deal signed after Bangladesh PM Sheikh Hasina's visit to India. The Bangladesh Navy contracted India's Garden Reach Shipbuilding and Engineers (GRSE) for an 800-tonne oceangoing tug, funded by Indian credit. GRSE also recently signed a deal for a dredger. The tug will aid in towing, berthing, and rescue operations, and can handle harsh sea conditions. The nations also agreed on further cooperation in maritime security, space, and counterterrorism.
Coal India's coal production rose 8% to 189.3 million tonnes in the first quarter. Patanjali Foods approved the acquisition of the home and personal care business. DCX Systems received a Rs 1,250 crore order.
Adani-Hindenburg Case: Hindenburg Research's disclosure of suspected violations by Sebi regarding Adani Group's short bet led to minimal gains, highlighting challenges foreign investors face under Indian securities rules. The short seller also stated that Kotak Mahindra Bank created and oversaw an offshore fund structure used by its "investor partner" to bet against the conglomerate, providing new details of trades that puzzled investors.
Diageo first bought a stake in USL in 2012, taking its holding to a majority by the following year. Mallya stepped down from USL in 2016 and left India that year amid loan repayment troubles at Kingfisher Airlines. At the time, USL had nearly two dozen subsidiaries, joint ventures and associate companies, half of them in the UK, where Mallya has currently exiled himself.
Vi may also make more substantial payments to Indus towards cutting its dues after the telco raises debt of ₹23,000-25,000 crore through term loans as planned, analysts added. After the recent sale of its 18% stake in Indus, UK's Vodafone holds 3.1% of the tower company and is said to be in talks with Bharti Airtel to sell these shares, people familiar said.
The ministry of electronics and information technology will anchor this project and suggest ways to improve page and website loading times, have better user interfaces on websites and apps, and make them more accessible for people with disabilities, an official said.
India's economy showed strong first-quarter performance with surging manufacturing activity, robust GST collections, and record-high Sensex, alongside a rise in passenger car sales and new export orders from overseas markets, as highlighted by industry experts and economic indicators.
Manufacturers are gearing up for a surge in demand, anticipating a boost in sales for smartphones, refrigerators, wearables, and two-wheelers during the upcoming festive season. The industry is optimistic about growth, especially in rural India, with expectations of exceeding previous sales records.
India's $250 billion IT services industry is facing sluggish hiring, but a bright spot is emerging in Engineering, Research & Development (ER&D). Demand for ER&D services is surging, driving a 15% increase in recruitment for these roles. Staffing firms report that tech companies are ramping up ER&D hiring to stay competitive in the global market.
