The process of “unwinding” the lockdown imposed to contain COVID-19 has already begun, and most sectors of the economy will be open by May 3, Principal Economic Adviser Sanjeev Sanyal told members of the PHD Chamber of Commerce and Industry via a video-conference call. “Well before the rest of the world is out and about, … Read more
Mumbai/New Delhi: An interim order by the Delhi high court restraining coercive action against Indiabulls Housing Finance Ltd for its inability to repay bondholders has raised fears among mutual funds that more debtors could take the same course. The Indiabulls counsel cited the Reserve Bank of India’s (RBI) 27 March circular on loan moratorium and … Read more
As news flows in from Beijing that a Chinese research firm has become the first organisation to enter phase II of clinical trials in the global race to find a vaccine for the coronavirus, India, too, is gearing up to develop its indigenous variant soon. With vaccines of some firms already in the animal trial … Read more
MUMBAI/NEW DELHI: The government has permitted manufacturing and other industrial establishments to operate from April 20, but the big question is how will they bridge the gap in labour supply? A large section of migrant workers engaged in contract labour, e-commerce and logistics operations and other project-related activities — estimated at around 5 crore — … Read more
In a rare show of camaraderie, grounded Indian airlines, bitter rivals otherwise, took to Twitter on Friday to encourage people to stay at home through a light-hearted exchange. With no clarity on how long the lockdown will continue, the struggling airlines indulged in witty banter, aimed at keeping their brands top of mind among travellers. … Read more
Bharat Biotech is getting into development and testing of a vaccine against COVID-19 called CoroFlu as part of an international collaboration of virologists and vaccine makers. CoroFlu is a one drop COVID-19 nasal vaccine built on a flu vaccine “backbone” that has been shown to be safe and well-tolerated in humans, in Phase I and … Read more
In a positive for Biocon, US drug regulator USFDA has accepted a biologics licence application by biopharmaceutical major and partner Mylan for a proposed biosimilar to treat advanced colon or rectal cancer. The application seeks approval of biosimilar bevacizumab for treatment of patients with metastatic colorectal cancer in addition to other ailments. “Once approved, our … Read more
At least Rs 10.52 trillion worth of corporate loans — around 16 per cent of the system-level corporate debt — is likely to default over the next three years due to prolonged slowdown in the economy. Further, around 25 per cent of the vulnerable debt is likely to turn delinquent, resulting in additional Rs 2.54 … Read more
Healthcare startup Qure.ai has raised $16 million in an equity funding round led by Sequoia India, with participation from MassMutual Ventures Southeast Asia, it said Thursday. MassMutual Ventures is the investment arm of US-based MassMutual Life Insurance Company. Founded in 2016 by Prashant Warier and Pooja Rao, Qure.ai provides interpretations of radiology scans within seconds, … Read more