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Indian

Pharma industry to surpass $60 bn by FY24: Report

The report expects this faster growth to be driven by the ability of the domestic industry to leverage the opportunities arising from the expiry of the many patented drugs across the globe, ebbing of regulatory risks, adoption of various de-risk strategies from China dependency for key raw materials, increasing PE investments, and strong fundamentals of the industry.

Govt wants returns from PSU insurers:DFS Secy 

“These companies should be able to generate profit so that they can give some return to their stakeholder- government,’’ said Panda while addressing employees of New India Assurance recently on the occasion of the company’s 103rd foundation day.

Identifying four pillars on which these companies should build their business, Panda said these companies should adopt technologies to keep up with the times, be customer centric as a matter of best practices, taking care of the  population who are at the bottom of the pyramid and above all design products for social security in the matter of property, health and natural catastrophes.

Citigroup, Kotak Mahindra, Among 10 Others Selected To Manage LIC IPO

A ministerial panel, called the Alternative Mechanism on strategic Divestment, is expected to decide soon on the size of the stake to be sold. It could be around 10 per cent, sold in two tranches, the two government sources said.

The other selected lenders are JM Financial Ltd, Axis Capital, Nomura, BofA Securities, J.P. Morgan India Pvt Ltd, ICICI Securities and Kotak Mahindra,

International

Seoul worst hit as Asia markets plunge on virus worries

“While the coronavirus is probably slowing in China, it is speeding up elsewhere,” Charles Gillams, at RJMG Asset Management, said. “Its impact on Chinese business is already deep. So, whether that has a one economic quarter impact — of some severity — or is a bigger issue remains unclear and indeed we won’t know for while.”

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