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Indian
Govt waives import duty on raw materials for Covid test kits, APIs for Amphotericin B
In a notification dated July 12, the Finance Ministry said the basic customs duty exemption on raw materials for manufacturing Covid test kits would be till September 30, 2021. While the exemption on specified API (active pharmaceutical ingredients)/ excipients for Amphotericin B would be valid till August 31.
World witnessing third wave, ensure it doesn’t hit India: Dr VK Paul
“We would like to request to everyone, when we talk about the third wave (of COVID-19), we are taking it as a weather update and not understanding its seriousness and our responsibilities associated with it,” he said. Agarwal also highlighted that the Centre has deputed teams in 11 states so that they can help the state governments in COVID-19 management.
Clean Energy:Mukesh Ambani’s Reliance Industries plans foraying into solar power manufacturing
India, the world’s third biggest emitter of greenhouse gases, plans to expand its renewable power capacity nearly five-fold to 450 gigawatts by the end of the decade, aiming to reduce dependence on fossil fuels that currently drive its economy. Solar power will account for around 62% of the 2030 target, meaning the country will need to add about 26 gigawatts of capacity annually for the next nine years. The country’s own factories can currently meet less than half the demand for modules.
The government is giving 45 billion rupees ($603 million) to companies setting up solar manufacturing facilities.
People cutting spends on health, grocery as fuel prices bite, say SBI economists
”As consumers are spending more on fuel, it is crowding out expenses on health. Our analysis of SBI card spends indicates that spend on non-discretionary health expenditure has been substantially reduced to accommodate increased expenditure on fuel,” group chief economic adviser Soumya Kanti Ghosh said.
”In fact such spending has more than crowded out the spending on other non-discretionary items, like grocery and utility services to such an extent that the demand for such products has significantly declined,” he added.
International
Europe faces heatwave with London and Paris expected to break July records
Europe is facing a second heatwave this summer, just weeks after...
US home insurance leader Hippo Insurance raises $100 million
Hippo is building faster, more accurate and more affordable homeowners insurance for today’s customers. The company’s data-driven pricing and real-time underwriting analyzes trusted public data sets, from municipal building records to satellite imagery of physical property characteristics, to develop a more accurate profile of a customer’s property, resulting in qualified customers receiving a comprehensive, tailored and accurate quote in under 60 seconds, and reduced premium costs of up to 25 percent
U.S. slaps $5 billion fine against Facebook, other privacy settlement terms
Group of German companies – including BASF, Siemens, Roche – hit by cyber attacks
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