BUSINESS
Corbevax Covid vaccine receives EUA approval for 12-18 age group
According to the Hyderabad-based firm, Corbevax is India's first indigenously developed Receptor Binding Domain (RBD) protein sub-unit vaccine against Covid-19. The Drugs Controller General of India (DCGI) had already approved Corbevax for restricted use in emergency situation among adults on December 28, 2019. BE received the approval for restricted use in an emergency situation in adolescents aged 12 to less than 18 years based on interim results (of the ongoing phase 2/3 clinical study).
Will deposit Rs 600 cr in DAMPEL's escrow account, says DMRC
As a bench of Justice Suresh Kumar Kait was hearing the DAEMPL's execution petition seeking enforcement of an arbitration award of Rs 6,208 crore in favour of the Reliance Infrastructure subsidiary, senior advocate Parag Tripathi, appearing for the DMRC, reiterated the earlier argument that around Rs 6,000 crore is lying in various accounts of the DMRC, but is meant for various metro rail projects in the national capital as well as projects in Patna and Maharashtra.
LIC well-capitalised, says Chairman ahead of listing
Addressing a press conference, he said that if the need for growth capital arises, then the LIC may approach the Centre as well as the new shareholders post the IPO. Besides, he reassured prospective investors not to worry about the Centre's control post the listing as the company's decisions are taken by its Board and not by the Centre. However, the Centre will have a 95 per cent stake even after the IPO.
Fund outflows dent indices; power stocks down
Initially, the two indices opened gap down in line with other Asian markets, however, it later made a recovery only to cede its gains during the late trade session. Besides, volumes on the NSE were below recent average. Amongst sectoral indices, bank index was the sole gainer whereas power, oil & gas, metals and healthcare indices lost the most.
Indian women freelancers' earning grew by 42% amid pandemic
For women freelance workers in India, the pandemic has resulted in higher levels of satisfaction, owing to an increased work-life balance and flexibility in work schedules that the gig culture offers in specialised areas, a new report showed on Monday. Indian women freelancers' average hourly earning rate grew by 42 per cent since 2020 -- $22 per hour (nearly Rs 1,600) in 2022 against $14 per hour (about Rs 1,050) in 2020.
Digital ad fraud losses to hit $68 bn globally this year
Losses owing to digital advertising fraud are set to reach a whopping $68 billion globally this year, rising from $59 billion in 2021, a new report showed on Monday. Top five countries most impacted by advertising fraud -- the US, Japan, China, South Korea and the UK -- together account for 60 per cent of global digital advertising spend losses, says Juniper Research.
LIC IPO set to be largest in Indian history | All you need to know
Life Insurance Corporation of India (LIC) IPO is all set to launch in the month of March before the end of the current fiscal year. With 61 percent share of the new premium collected and over 72 precent share in the insurance policies sold in India while commanding assets worth INR 39.7 trillion, the IPO is expected to set records vis-à-vis retail subscription. LIC IPO set to create new record in Indian market; Key points
Budget focused on growth revival: Sitharaman to industry
The revival of economic growth was the foremost priority of the Union Budget FY23, said Finance Minister Nirmala Sitharaman on Monday. The Budget FY23 has raised capital expenditure by 35.4 per cent Rs 7.5 lakh crore in a bid to continue the public infrastructure plan which in turn will create fresh jobs in the economy besides crowd-in private participation through investments."
ED raids India Bulls Housing in Delhi, Mumbai
The Enforcement Directorate (ED) on Monday conducted raids at the offices of India Bulls Finance Centre in Mumbai and Delhi in connection with a Prevention of Money Laundering case lodged against the company and its promoter Sameer Gehlaut in April 2021. The ED had earlier recorded the statement of a Pune based businessman who deals in real estate, in this connection.
Equities reverse early trend, rise in afternoon trade
After declining in early trade, key indices -- S&P BSE Sensex and NSE Nifty50 -- rose in the afternoon on Friday primarily due to value buying, said analysts. Geo-strategic tensions between Ukraine and Russia had weighed on the indices in the recent sessions, which led to heavy sell-off by foreign institutional investors.
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