Japan PM Fumio Kishida 'to sack deputy finance minister' over delinquency on tax payments
Report of Kenji Kanda’s firing comes in the backdrop of poll by broadcaster FNN which shows approval rating for Kishida’s cabinet reaching a record low of 27.8%, 7.8 points below last month. Key Points
ThePrintU.P. approves ₹100 cr for Ayushman Bharat Yojana
Approval for expenditure on 42 standard items of social security and welfare programmes, other social security and welfare programmes, other insurance schemes and the Ayushman Bharat-National Health Protection Mission has been given. However, this approval is subject to various conditions and restrictions concerning the allocated funds. Key Points
Hindustan TimesBiden's rating plummets to new lows, Trump leads Republican polls, DeSantis lags
Biden's approval ratings plummet amidst Afghanistan fallout and Supreme Court setback. Trump dominates early Republican primary polls, DeSantis lags behind. | World News Key Points
Hindustan TimesFDA panel weighs US approval for Alzheimer's drug from Eisai and Biogen
A panel of expert advisers on Friday began their meeting to discuss whether to recommend traditional U.S. regulatory approval for Eisai and Biogen's new Alzheimer's drug Leqembi, a move expected to expand Medicare payment for the treatment. Key Points
ReutersStocks in news: South Indian Bank, Coal India, HDFC Life, SAIL, Adani Green
South Indian Bank has finalised the candidates for the post of MD and CEO of the Bank. The lender will submit the application to the RBI seeking approval for the same. Key Points
Economic Times
Transactions between 2 govt firms exempt from prior nod requirements by audit committee for RPTs, says Seb
The Securities and Exchange Board of India (Sebi) has clarified that transactions between two state-run companies do not need prior approval from the audit committee and shareholders for related-party transactions. The clarification followed after NTPC sought guidance about related party transactions under the Listing Obligations and Disclosure Requirements (LODR) rules. NTPC asked if the audit committee must approve transactions between it and PTC India and Energy Efficiency Services, where government of India nominee directors are appointed. Sebi said government nominees are on the boards of PTC and EESL, but neither are government companies, so the RPT exemptions do not apply. Key Points
Economic TimesUS FDA gives second approval to Eli Lilly's drug for type of blood cancer
Eli Lilly (LLY.N) said on Friday the U.S. Food and Drug Administration (FDA) gave a second approval for its drug Jaypirca, which is used to treat a form of blood cancer. Key Points
ReutersCCI approves IDFC merger plan with IDFC First Bank
The Competition Commission of India (CCI) has approved the merger plan of IDFC with IDFC First Bank. The approval was granted under the Green Channel Route. However, the merger is still subject to various statutory and regulatory approvals, including those from stock exchanges, regulatory authorities, and shareholders. This development is an important milestone in the merger process, and the companies will now work towards obtaining the necessary clearances and fulfilling legal requirements. Key Points
Economic TimesGodawari Power and Ispat gets approval to scale up sponge iron production capacity in Chhattisgarh
New Delhi, Jan 20 (PTI) Godawari Power and Ispat Ltd (GPIL) on Saturday said it has obtained the Chhattisgarh government’s approval to scale up capacity of its sponge iron production by around 1 lakh tonne. Production at its site at Siltara Industrial Area in Raipur will be increased to 5.94 lakh tonne per annum on […] Key Points
ThePrintIMF approves $3-bn loan for crisis-hit Pakistan, including $1.1-bn immediate disbursement
The approval allows for an immediate disbursement of $1.2 billion, the report said. "The remaining amount will be phased over the programme’s duration, subject to two quarterly reviews.” Key Points
Business Today
LIC gets RBI approval to acquire 9.99% holding in HDFC Bank
Pursuant to Regulation 30 of the SEBI Listing Regulations, we would like to inform you that the Reserve Bank of India (“RBI”) vide its letter dated January 25, 2024, addressed to Life Insurance Corporation of India (“LIC”), has accorded its approval to LIC for acquiring aggregate holding up to 9.99% of the paid-up share capital or voting rights of HDFC Bank Limited, the insurance company said in an exchange filing. Key Points
Economic TimesYet to get majority states’ nod on 7th Eco Census results: Report
In its submission to the committee, the ministry of statistics and programme implementation stated that it had received approval for provisional results from 13 statelevel coordination committees. approval of all states is needed to release the results. Key Points
Economic TimesStartup and MSME M&As to be cleared within 15-60 days
M&As in startup and MSME sectors will now be able to secure approval within 15 days that can go up to a maximum of 60 days, a corporate affairs ministry (MCA) notification said. The move is seen as a big boost for the startup sector that has seen a rise in corporate restructuring in recent times. Key Points
Economic TimesBGMI trial by fire is over and it can continue in India, but government will still monitor it every 3 months
Krafton seems to have received official approval for BGMI from the Indian government to continue its operations in the country. The latest development comes after Battlegrounds Mobile India completed a rigorous three-month audit and during that time, the game didn't receive any criticism by the government for any feature. Key Points
India TodayUS: Texas judge suspends approval of abortion pill mifepristone. What happens next?
Anti-abortion groups led by the Texas-based Alliance for Hippocratic Medicine sued the U.S. Food and Drug Administration last year, claiming that it approved mifepristone for abortion in 2000 using an unlawful process and did not adequately consider the drug's safety Key Points
mint
Global pharma majors pitch for faster approval of innovative drugs in India but CDSCO remains cautious
Organisation of Pharmaceutical Producers of India seeks nod for drugs to be marketed at same time as US, Europe. But regulator rarely permits a drug launch without local clinical trials. Key Points
ThePrintVodafone Idea seeks shareholder approval for ₹20,000 crore fundraise
In a bid to shore up its finances, Vodafone Idea (VIL) held an Extraordinary General Meeting (EGM) on April 2, seeking shareholder approval to raise a staggering ₹20,000 crore through issuing new securities. The outcome of the vote is yet to be announced. Key Points
mintGovt proposes exempting certain M&A deals from Competition Comm approval requirement
Draft rules to exempt certain categories of combinations from the Competition Commission of India (CCI) approval requirement have been issued by the corporate affairs ministry. Vaibhav Choukse, Partner & Head - Competition Law at JSA Advocates & Solicitors, said the draft rules enlist certain kinds of M&A (Merger & Acquisition) transactions which will not require approval from the CCI. Key Points
Economic TimesWe are getting ready to be a global player, says Jairam Sampath of Kaynes Technology
Jairam Sampath, CFO of Kaynes Technology, discusses the company's semiconductor business and its plans for becoming a completely integrated EMS player. The approval process is in the final stages, and the company is confident in its ability to generate returns and achieve long-term growth through partnerships and collaborations. They are one of the first globally to have considered semiconductor assembly as well as the high-density interconnection PC boards and this will yield results in 5 to 10 years. . Key Points
Economic Times‘Promising’ anti-ageing drug for large-breed dogs to gain FDA approval soon
Good news for all the pet owners! A ‘promising’ anti-ageing drug for large breed dogs is nearing approval from the FDA. Read more below. Key Points
Hindustan Times
Coinbase wins approval to offer crypto futures trading in US
US News: Coinbase Global said on Wednesday it had secured approval to offer cryptocurrency futures to U.S. retail customers, scoring a major regulatory win eve Key Points
Times Of IndiaUnion Environment Ministry grants final approval for Kalaignar pen monument in Bay of Bengal; lays down 15 conditions
The Union Ministry of Environment has provided Coastal Regulation Zone (CRZ) clearance for the Tamil Nadu government’s proposal to construct Muthamizh Arignar Dr .Kalaignar pen monument in Bay of Bengal, off the Marina beach near Triplicane in Chennai, with 15 conditions. Key Points
The HinduUS FDA approves Biogen's ALS drug
The U.S. Food and Drug Administration said on Tuesday it had approved Biogen Inc's drug for treating a form of amyotrophic lateral sclerosis (ALS), making it the first available treatment targeting a genetic cause of the disease. Key Points
ReutersAICTE academic calendar for 2023-24 out, 1st year classes from September 15
AICTE has issued academic calendar for 2023-24. Check important dates here. Key Points
Hindustan TimesAmericans like Meghan the least among Harry, William, Kate and her: Report
Overall, among the four royals, Meghan is the least liked by Americans. Around 1500 interviews formed part of the poll conducted between April and June. | World News Key Points
Hindustan Times/cloudfront-us-east-2.images.arcpublishing.com/reuters/5MRPEFS52NLPRC4S5UWMAVPDNQ.jpg)
Eisai-Biogen Alzheimer's drug data confirms benefits, FDA staff says
U.S. Food and Drug Administration staff on Wednesday said data from a late-stage trial of Eisai and Biogen's Alzheimer's disease drug suggests it offered a meaningful benefit to patients and safety concerns likely would not hamper its chances of a traditional approval. Key Points
ReutersExit tax norms: Relief for charitable trusts
This tax is levied at the maximum marginal tax rate of 34.94% and had raised concerns among stakeholders. Key Points
FinancialexpressBroadcom closes $69 billion VMware deal after China approval
Broadcom (AVGO.O) on Wednesday closed its $69 billion acquisition of cloud-computing firm VMware (VMW.N) after receiving regulatory approval in last major market China and ending a months-long saga. Key Points
ReutersMore Eisai/Biogen Alzheimer's drug approvals seen likely despite safety warning
With U.S. approval of Eisai's (4523.T) and Biogen's (BIIB.O) Alzheimer's drug Leqembi secured, Wall Street analysts said they expect other region's health regulators to follow suit even if they share similar concerns about a potentially severe side effect. Key Points
ReutersFDI plans by China, Pakistan, others in limbo as India keeps permission pending
FDI is not totally banned from these countries. It is just that they (investors from these countries) have to follow the government approval route and of course that takes times, a source said. Key Points
Economic Times
Burmans get CCI approval to buy stake in Religare
The Competition Commission of India approves the acquisition of a 5.27% stake in Religare Enterprises by entities controlled by the Burman family, along with a subsequent open offer for an additional 26% stake. Key Points
mintAlaska Airlines to acquire Hawaiian Airlines in $1.9 billion deal
International Business News: Alaska Airlines announces intent to purchase Hawaiian Airlines for $1.9 billion, awaiting regulatory approval. Merger would create nation's fifth-larg Key Points
Times Of IndiaDGCA suspends Air India’s Boeing simulators after audit finds quality control gaps
The Directorate General of Civil Aviation (DGCA) has suspended the approval for Air India's Mumbai Aviation Training Organisation, which houses simulators for Boeing 777, 787, and 737 pilots. The suspension will affect the training of pilots for Air India's fleet, which primarily operates to Europe and North America. During a routine inspection, DGCA auditors found that the approval for the facility's quality manual had expired and that no Quality Control Officer had been appointed. Key Points
Economic TimesKolkata NCLT approves NARCL plan to acquire twin Srei companies under IBC
This will be the first acquisition of NARCL after it was formed two years ago with the aim to acquire bad loans from Indian banks. NARCL, which gave the highest offer among the three bidders, will now seek approval from the Reserve Bank of India to acquire Srei Equipment Finance and Srei Infrastructure Finance. Key Points
Economic TimesShilpa Medicare jumps over 11% in early trade. Details here
Shilpa Medicare's stock jumped over 11 per cent in early trade after it received a key approval from the USFDA. Here is all you need to know. Key Points
India Today
Competition Commission clears JM Baxi Ports-HAL deal
Competition Commission of India (CCI) said it has given the approval for the acquisition of shareholding of JM Baxi Ports HL Terminal Holding B.V. Key Points
FinancialexpressDeutsche Boerse extends SimCorp offer as it awaits EU regulators
Deutsche Boerse (DB1Gn.DE) said on Friday that it was extending an offer period to shareholders for its takeover of the Danish investment management software company SimCorp (SIM.CO) as it awaits European Union regulatory approval. Key Points
ReutersIPO pipeline for FY24 remains strong, 54 firms likely to raise ₹76,189 cr
About 54 firms have received Sebi's approval and are looking to raise up to ₹76,189 crore. They are most likely to hit market in FY24. Another 19 companies are awaiting the market watchdog's approval while looking to raise ₹32,940 crore. Key Points
mintAjit Pawar alleges ₹500 crore scam in govt ads during Fadnavis’s tenure
Pawar sought a detailed probe and suspension of the officers with immediate effect. He said that the preliminary probe was conducted after Uddhav Thackeray led MVA government came to power in 2019. The report found blatant violations on part of eight officials including DG and the principal secretary | Mumbai news Key Points
Hindustan TimesA Rubberized Cybertruck Is Plowing Through European Pedestrian Safety Rules
Tesla’s troubled electric pickup is illegal in Europe, yet somehow a barely modified model has found a way to get licensed. A group of European transport organizations claim this ride could spell disaster. Key Points
WIRED
PM GatiShakti: 208 infra projects worth Rs 15.39 lakh crore recommended for approval
208 infrastructure projects worth Rs 15.39 lakh crore have been recommended under PM GatiShakti, enhancing coordination across ministries such as roads and railways. The initiative aims to streamline logistics costs through integrated planning, with substantial use of geospatial data and inter-ministerial collaboration. Key Points
Economic Times