Sun Pharmaceutical Industries on Tuesday said its arm DUSA Pharmaceuticals Inc has reached settlement with Biofrontera to resolve a litigation over misappropriation of trade secrets and unfair practice, following which DUSA will receive $22.5 million (nearly Rs 170 crore). In 2018, DUSA Pharmaceuticals had filed a suit at the US District Court of Massachusetts against Biofrontera Inc Biofrontera Bioscience GmbH, Biofrontera Pharma GmbH, and Biofrontera AG (together known as Biofrontera) alleging "misappropriation of trade secrets, tortious interference of contract and unfair trade practices".
Speaking at a virtual conference organised by the Confederation of Indian Industry, Suchitra Ella, joint Managing Director of the city-based vaccine maker, said the company's facilities in four cities -- Hyderabad, Bengaluru, Pune and Ankaleshwar -- are currently producing Covaxin.
India plans to release about 5 million barrels of crude oil from its emergency stockpile in tandem with the US, Japan and other major economies to cool prices, a top government official said on Tuesday. India stores about 38 million barrels of crude oil in underground caverns at three locations on the east and west coast. Of this, about 5 million barrels will be released, starting as early as 7-10 days, the official, who wished not to be named said.
Mandarin Oriental New York, the premium luxury hotel a subsidiary of Reliance Industries is acquiring, is known for its much-in-demand ballroom, five-star spa and eating and drinking venues, including MO Lounge. Liam Neeson and Lucy Liu are among regular guests. Set up in 2003, 248-rooms-and-suites hotel towering over Central Park is an iconic luxury hotel located at 80 Columbus Circle, directly adjacent to the pristine Central Park and Columbus Circle.
The Hyderabad-based manufacturer uses a proprietary adjuvant Algel-IMDG, which has now proven to be a safe and effective adjuvant, especially to stimulate memory T cell responses.
E-commerce giant Amazon on Thursday announced a $250 million (about Rs 1,873 crore) fund that will focus on digitising small and medium businesses, and driving innovation in the areas of agri-tech and health-tech in India. "Small and medium sized businesses are often the engine and the lifeblood of economies and I think it's true in India as well. "And we are very passionate about trying to enable acceleration of SMBs in fuelling innovation and the economy in India," Amazon Web Services CEO Andrew Jassy said.
As per RDIF, Sputnik V has a number of key advantages, including that there are no strong allergies caused by Sputnik V.
Facebook removed 25 million pieces of content identified as 'spam,' 1.8 million pieces of content containing 'adult nudity and sexual activity', reports Neha Alawadhi.
A report has alleged that personal data of 500 million users of LinkedIn has been put on sale, a charge that the professional networking platform has denied, saying no private member account data was impacted. The report by CyberNews claimed that an archive containing data purportedly scraped from 500 million LinkedIn profiles has been put for sale on a popular hacker forum, with another 2 million records leaked as a proof-of-concept sample by the post author. This included full names, email addresses, phone numbers and workplace information, among other data, it said. The report, however, did not specify the impact on users in India.
ShareChat on Thursday said it has raised $502 million (about Rs 3,725 crore) in funding led by Lightspeed Venture Partners and Tiger Global, valuing the homegrown social media platform at over $2.1 billion. Snap Inc (which owns photo-messaging app Snapchat) and existing investors Twitter and India Quotient, among others, also participated in the funding round in Mohalla Tech, the parent company of ShareChat and short video app, Moj. Founded in 2015, Mohalla Tech has raised over $766 million across six fundraising rounds.
With automation taking place at a much faster pace across industries especially in the tech space, domestic software firms that employee over 16 million are set to slash headcounts by a massive 3 million by 2022, which will help them save a whopping $100 billion mostly in salaries annually, says a report. The domestic IT sector employs around 16 million, of them around 9 million are employed in low-skilled services and BPO roles, according to Nasscom. Of these 9 million low-skilled services and BPO roles, 30 per cent or around 3 million will be lost by 2022, principally driven by the impact of robot process automation or RPA. Roughly 0.7 million roles are expected to be replaced by RPA alone and the rest due to other technological upgrades and upskilling by the domestic IT players, while it the RPA will have the worst impact in the US with a loss of almost 1 million jobs, according to a Bank of America report on Wednesday.
Hate speech content removal has increased over 15X on Facebook and Instagram since Facebook first began reporting it.
'If a member of your family has been diagnosed with glaucoma, rest of the members (brothers, sisters and children) should get their eyes tested to rule of early disease,' advises Dr Sandeep Buttan.
While the Indian government has been procuring Covid-19 vaccines at low prices so far, manufacturers have to declare the prices of vaccines they would supply to the open market (industries, private hospitals, etc) and state governments before May 1. Sohini Das reports.
China's Ambassador to Afghanistan Wang Yu and Acting Minister of Refugee Affairs of the Afghan caretaker government Khalil-ur-Rehman Haqqani attended the handover ceremony at the airport.
Sunny Leone has topped the list of most searched female celebrities in India.
Two sectors, fintech and media & entertainment, attracted 45 per cent of total funding by value, led by large ticket deals such as CRED and Dailyhunt.
Ferrying migrant workers back to their states would be the largest special service by any railway network in the world in one go. Here's how the transporter manages it.
Postman, a leading application programming interface platform, has secured $225 million in a Series D round, placing its valuation at $5.6 billion. With this, Postman has emerged as the most-valued software-as-a-service (SaaS) firm started by Indian founders, overtaking web and mobile testing firm BrowserStack, which was valued at $4 billion in June. The valuation of the San Francisco-headquartered firm with offices in Bengaluru, where it was founded, has almost trebled in just about one year and risen multi-fold since 2019. Postman, with team members spread across four continents, had secured $150 million in a Series C investment round led by Insight Partners at a $2-billion valuation last summer.
The IPO will be sometime in the first half of next year.
The Brihanmumbai Municipal Corporation told the Bombay High Court on Monday that it does not apprehend a third wave of the COVID-19 pandemic in the city as the vaccination drive is going on smoothly, with over 42 lakh people fully vaccinated and over 82 lakh people having received the first dose.
Tharoor argued that the proposed bill represents a "grave chapter in the history of the Indian republic, seeking to ratify an ordinance that in many ways is an assault on our democratic heritage and the spirit of federalism."
Dr Reddy's Laboratories is in a pact with Russian Direct Investment Fund to sell the first 125 million people doses (250 million vials) of Sputnik V in India.
Signs of financial stress were visible when the airline reported a loss of Rs 10.40 billion.
Disale announced that he will be sharing 50 per cent of his prize money with his fellow finalists to support their "incredible work".
In April 2016, the then CIC M Sridhar Acharyulu had directed the Delhi University and the Gujarat University to provide information to Kejriwal on the degrees that Modi received.
The 27 year old strikes a sensuous pose on the cover of Be Beautiful India's August edition.
While Mercedes-Benz India expects 25 per cent of its India sales to come from EVs in the next four years, BMW says it estimates around 10 per cent of sales to come from those in the near future.
Three major cities in south India -- Bengaluru, Hyderabad and Chennai -- dominate India's office market with the contribution of 66 per cent of the total demand for office space during the last financial year 2020-21, according to Anarock report. The consultant noted that the main southern office market has overtaken other regions in terms of new supply, net absorption, and even rental growth. Among the top-seven cities, Bengaluru, Hyderabad and Chennai saw their share of total office leasing increase to 66 per cent in the 2020-21 fiscal year as against 47 per cent in FY18.
Bharti Airtel aims to leverage its 180 million plus digital service customers and its wide presence in rural areas to grow its payment bank business. "We are well placed as we can leverage the 180 million plus customers we have across our digital assets. "We offer a plethora of services such as lucrative interest rates, gift cards, FASTag, telecom recharges, payments and debit cards. "Our large merchant base of more than eight million allows us to drive both engagement and monetisation.
The new IT rules require large digital platforms -- with over five million users -- to publish compliance reports every month, mentioning the details of complaints received and action taken.
The Seventh Pay Commission had decided to choose the CPI-IW as the index for adjusting inflation for central government employees.
A mere two-bedroom apartment - albeit quite spacious, covering 3,000 square (sq.) feet (ft) - will set you back 5.8 million. That's the asking price from the Indian-owned Hinduja Group, if you desire a nest in London Whitehall's iconic Old War Office (OWO). Its 1,100 rooms are now being converted into 85 residences and a first-ever hotel to be operated in Britain by Singapore's legendary Raffles Hotels chain. Gopichand Hinduja, co-chair of the conglomerate, said: "Every decision made on The OWO (as the building is fondly called) is underscored by our passion and respect for the heritage of the building and long-term commitment to London."
Nothing in India's recent history suggests that India can provide 8-9 million jobs a year, let alone generate 50 million jobs in any reasonable time, notes Mahesh Vyas.
Vodafone Idea (Vi) lost 12.4 million subscribers in the first quarter of FY22, the most since the fourth quarter of FY20, as the second wave of Covid hurt its operational and financial performance. Vi had managed to trim subscriber losses in the third and fourth quarters of FY21. However, it lost 12.4 million subscribers and its customer base shrunk to 255.4 million in the first quarter of FY22. Sequential fall in 4G users was modest, indicating that most of the loss was in the low-margin 2G segment.
The country's foreign exchange reserves increased by $889 million to a lifetime high of $621.464 billion in the week ended August 6, 2021, RBI data showed on Friday. In the previous week ended July 30, 2021, the reserves had surged by $9.427 billion to reach $620.576 billion. In the reporting week, the increase in the forex kitty was due to a rise in foreign currency assets (FCAs), a major component of the overall reserves, as per weekly data by the Reserve Bank of India (RBI).
Indian PC shipments for the third quarter of CY21 touched a total of 4.5 million, making it India's biggest-ever single quarter. To put this in perspective, it is bigger than the total yearly consumer shipments in 2019, a year before the pandemic hit. As a result, many brands also reported their biggest quarter of PC shipments.
The Congress on Monday sought a thorough probe in the Rafale defence deal and demanded answers from Prime Minister Narendra Modi, after a French media report claimed that 1.1 million (Rs 9.5 crore) was paid to a "middleman" by the aircraft manufacturer.
Personal details of about 533 million Facebook users globally, including 6.1 million from India, were allegedly leaked online and posted for free on hacking forums, according to a cybersecurity executive. The leaked details allegedly include names, phone numbers and other details of users of Facebook, a social media giant that had 2.80 billion monthly active users (MUAs) as of December 31, 2020.
An analysis of WHO data shows that most of the countries with an older cohort of population and higher in the development index had a lower excess mortality rate than India.
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