DIRS.INFO The most relevant business & tech news

☆ Exclusive: India may issue alert on Marion cough syrup exports after toxins found
▼ + stars: | 2023-03-04 | by ( Krishna N. Das | ) www.reuters.com time to read: +3 min

[1/2] Logo of Marion Biotech, a healthcare and pharmaceutical company is seen on a gate outside their office in Noida, India, December 29, 2022. REUTERS/Anushree FadnavisNEW DELHI, March 4 (Reuters) - India may issue an alert on cough syrup exported by Marion Biotech, whose products have been linked to deaths in Uzbekistan, after tests showed many of the company's drug samples contained toxins, a drug inspector said on Saturday. "The health ministry could issue an alert. Babbar has been part of a team that inspected Marion's plant four times after Uzbekistan said in December the children died after consuming the company's cough syrups. India in October suspended production at Maiden for violating manufacturing standards after the WHO said four of its cough syrups may have killed dozens of children in Gambia.

[1/6] A man arranges the flags kept outside the venue for G20 foreign ministers’ meeting in New Delhi, India, March 2, 2023. The Russian foreign ministry said Lavrov and Blinken spoke "on the move" but did not hold negotiations or a meeting, Russian news agencies reported. News of the exchange came at the end of the day-long G20 meeting which, as expected, was overshadowed by the Ukraine war. "Unfortunately, this meeting has again been marred by Russia’s unprovoked and unjustified war against Ukraine," Blinken said. French Foreign Minister Catherine Colonna said the war in Ukraine had hurt "almost every country on the planet, in terms of food, energy, inflation".

[1/6] A man arranges the flags kept outside the venue for G20 foreign ministers’ meeting in New Delhi, India, March 2, 2023. European and U.S. delegates, in New Delhi for the foreign ministers' meeting, have however reiterated that they hold Russia responsible for the conflict, with Germany saying it would use the meeting to counter Russian "propaganda". "You are meeting at a time of deep global divisions," Modi said in a video message as the talks began. The foreign ministers' meeting comes days after a meeting of the G20 finance chiefs that was also dominated by war. The New Delhi meeting is being attended by 40 delegations, including those headed by Russian Foreign Minister Sergei Lavrov, U.S. Secretary of State Antony Blinken and Chinese Foreign Minister Qin Gang.

[1/5] A man walks past a model of G20 logo outside the finance ministry in New Delhi, India, March 1, 2023. Germany responded saying it would counter Russian "propaganda" at the G20 meeting. The foreign ministers meeting comes days after a meeting of finance chiefs of G20 countries in Bengaluru that was also overshadowed by Russia's war in Ukraine. An EU source separately said the EU delegation would not support a statement at the G20 meeting if it did not include condemnation of the war. The G20 includes the wealthy G7 nations as well as Russia, China, India, Brazil, Australia and Saudi Arabia, among other nations.

Adani argued the plants were "unviable" at the trucking rates it wanted to slash by around half. Truckers rejoiced, with a union leader in a street address labelling it as a victory after late-night talks with Adani. After the Hindenburg report, Congress has renewed its claims that Modi for years has unduly favoured Adani. The Adani group wanted freight rates to be lowered to around 6 rupees ($0.0725) per tonne per km, from around 11 rupees. "The Hindenburg report was a gift that saved our businesses."

[1/5] Police officers stand outside a building having BBC offices, where income tax officials are conducting a search, in New Delhi, India, February 14, 2023. The government last month dismissed the documentary, "India: The Modi Question", as propaganda and blocked its streaming and sharing on social media. The BBC has stood by its reporting for the documentary and said it was cooperating with Indian tax officials. The tax survey relates to transfer pricing rules and alleged diversion of profits. India's Income Tax Department has so far declined to comment on the reason for the search.

☆ Indian tax officers search BBC offices for second day, sources say
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +2 min

[1/3] Police officers stand outside a building having BBC offices, where income tax officials are conducting a search, in New Delhi, India, February 14, 2023. REUTERS/Anushree FadnavisNEW DELHI, Feb 15 (Reuters) - Indian tax officers searched the BBC's offices in New Delhi and Mumbai for a second day on Wednesday, two sources said, as controversy swirled over a BBC documentary critical of Prime Minister Narendra Modi's role in deadly riots two decades ago. India's Income Tax Department has declined to comment on the reason for the search. The government says the documentary, "India: The Modi Question", aims to push what it calls a discredited narrative, arguing that it is "biased, lacked objectivity" and showed a "continuing colonial mindset". It said on Tuesday it was cooperating with Indian tax officials, and hoped to have the situation "resolved as soon as possible".

☆ Cracks begin to show in India's Himalayan building spree
▼ + stars: | 2023-02-02 | by ( Krishn Kaushik | ) www.reuters.com time to read: +12 min

"Modern connectivity is also a guarantee of national security," Modi said at an election rally at a border village in October, where he said the new transport links would bring development to remote regions. India's ministries of highways and railway, which own the state-run companies building the road and rail projects, also did not respond. Hundreds of homes have sunk and cracked in an Indian tourist town close to the Himalayan border with China. Eight of the families neighbouring Butola have now left the village, their homes riven with cracks, villagers told Reuters. Officials halted road construction work near the town, fearful of a bigger collapse.

☆ Analysis: India's EV dawn fans expectations fuel demand may peak early
▼ + stars: | 2023-01-27 | by ( Mohi Narayan | ) www.reuters.com time to read: +5 min

Currently, around 90% of Indian petrochemical demand is met by China, he said, so a shift by Indian refiners towards domestic chemical needs could dramatically change supply dynamics. Indian refiners are investing billions of dollars to raise petrochemical capacity. Indian Oil Corp (IOC.NS), the country's top refiner, is raising petrochemical capacity at its Panipat refinery by 13% and building new plants linked to its Paradip and Gujarat refineries. India's state refiners, which dominate fuel retailers, plan to set up EV charging facilities at more than 22,000 fuel stations and highways by 2024. About 40% of India's fuel demand is for diesel, which is mostly used by trucks.

REUTERS/Anushree FadnavisJan 24 (Reuters) - India is likely to peg its nominal gross domestic product (GDP) growth at around 11% in the annual budget next week, marking a slowdown from its estimate for the current fiscal year due to the prospect of weak exports, two government officials said. Nominal GDP growth — which includes inflation and is the benchmark used to estimate tax collections — could be pressured by suppressed external demand next year due to a likely U.S. recession, said the sources, who declined to be named as discussions are not yet public. The government expects nominal growth of 15.4% for the current fiscal year that ends on March 31. With nominal GDP of 10.6%-11%, India's gross tax collection growth rate is likely to be around 8% in 2023/24, compared with 14.5% in the current year, due to base effect, said Gaura Sengupta, an economist at IDFC First Bank. The real GDP growth is expected to be pegged at 6.0%-6.5% in the Economic Survey of 2022/23, one of the officials said.

☆ WHO urges 'immediate action' after cough syrup deaths
▼ + stars: | 2023-01-23 | by ( Jennifer Rigby | ) www.reuters.com time to read: +3 min

REUTERS/Anushree FadnavisLONDON, Jan 23 (Reuters) - The World Health Organization has called for "immediate and concerted action" to protect children from contaminated medicines after a spate of child deaths linked to cough syrups last year. The medicines, over-the-counter cough syrups, had high levels of diethylene glycol and ethylene glycol. It called for action across its 194 member states to prevent more deaths. It also issued a warning last year for cough syrups made by four Indonesian manufacturers, PT Yarindo Farmatama, PT Universal Pharmaceutical, PT Konimex and PT AFI Pharma, that were sold domestically. It also asked governments and regulators to assign resources to inspect manufacturers, increase market surveillance and take action where required.

☆ Top Indian wrestlers accuse sports body chief of sexual harassment
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Anushree FadnavisNEW DELHI, Jan 19 (Reuters) - Olympic medal-winning Indian wrestlers have accused the chief of their sport's governing body and its coaches of sexually harassing female players and have vowed to protest until the federation is disbanded and its head investigated. The athletes say they know five or six players who have in the past been victims of harassment. The wrestlers met sports ministry officials on Thursday and were given "assurances" of action, Malik, The first Indian female wrestler to win an Olympic medal, told reporters at the protest site. Punia, one of India's top male wrestlers, Malik and Phogat said they would not take part in any tournaments until adequate action was taken and the wrestling federation was disbanded. Reporting by Shivam Patel in New Delhi; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

The government uses the estimates as a basis for its growth and fiscal projections for the next budget due on Feb. 1. Since September, economists have been cutting their 2022/23 growth projections to around 7% due to slowing exports and risks of high inflation crimping purchasing power. India's nominal growth, which includes inflation, is projected to be at 15.4% for 2022/23, up from an earlier 11.1% estimate. "The nominal GDP growth is higher, implying that the government's fiscal deficit target will be achieved," said Sabnavis. "Buoyant albeit mixed domestic consumption should help to stave off some of the pain arising from weak exports during this period," Aditi Nayar, economist at ICRA.

☆ Indian maker of syrup linked to Uzbekistan deaths halts production; facility inspected
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Anushree FadnavisNEW DELHI, Dec 29 (Reuters) - India's drug regulator said on Thursday that it had inspected Marion Biotech's production facility and promised more action based on the probe report after the company's cough syrup was linked to death of 18 children in Uzbekistan. A legal representative of Marion Biotech said the Indian maker of pharmaceuticals and cosmetics regretted the deaths and the company has halted production of the Dok-1 Max syrup. The drug regulator reviewed the company's Noida facility in the Uttar Pradesh state and is in regular touch with its Uzbekistan counterpart, the Indian health ministry said in a statement. "The samples of the cough syrup have been taken from the manufacturing premises and sent to Regional Drugs Testing Laboratory, Chandigarh for testing," the ministry said. Uzbekistan's health ministry said on Wednesday that at least 18 children in the country died after consuming the syrup, manufactured by the Indian drugmaker.

☆ New Delhi fog disrupts air and rail travel
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +1 min

[1/2] A man walks across the lawns near India Gate on a cold winter morning in New Delhi, India, December 27, 2022. REUTERS/Anushree FadnavisNEW DELHI, Dec 27 (Reuters) - Low temperatures and fog in New Delhi hit air and rail movement on Tuesday morning as a cold wave gripped the Indian capital with minimum temperatures dipping as low as 5.6 degrees Celsius (42 F). Local media reported that 15 trains to Delhi were also running late because of fog. The IMD also forecast cold wave conditions in some areas over the northwest states of Punjab, Haryana and Delhi during the next two days. A cold wave is declared in the plains of India when the minimum temperature dips to 4 degrees Celsius or falls 4.5 degrees Celsius below normal to 10 degrees Celsius or below.

☆ Rahul Gandhi's cross-India march reaches capital city Delhi
▼ + stars: | 2022-12-24 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Anushree FadnavisNEW DELHI, Dec 24 (Reuters) - A cross-country march led by Indian opposition leader Rahul Gandhi reached the capital New Delhi on Saturday, hoping to regain some of the popularity it lost to the ruling Hindu-nationalist party. Gandhi's mother, former Congress president Sonia Gandhi, party leader Priyanka Gandhi and her husband Robert Vadra joined Saturday's march. The Nehru-Gandhi dynasty has controlled the Congress party for decades but has also overseen its recent decline. Rahul Gandhi resigned as Congress president after the last election. The "Unite India Rally" march began in September in the coastal town of Kanyakumari on the southern tip of India.

☆ Analysis: India's post-COVID spending boom drives two-speed economy
▼ + stars: | 2022-12-21 | by ( Ira Dugal | ) www.reuters.com time to read: +5 min

The world's fifth-largest economy is expected grow 6% in the fiscal year ending March 31, 2024, according to a survey by the Indian central bank this month. Importantly, conditions are better than not just the crippling slump during India's devastating COVID surge last year but also the anemic growth of the debt-saddled last decade. "If India does everything right, we could see significant foreign inflows in the next one to two years," said Sridhar Sivaram, investment director at Enam Holdings, a privately managed investment group. India's weight in the MSCI emerging market index has already risen from 8% in 2019 to 16% as of October 2022, said Sivaram. There is also hope that global corporations will diversify supply chains away from China, which would benefit India.

The four gay couples want a Supreme Court ruling that modifies or interprets laws in a way that allows same-gender marriages, the court filings show. The United States this month approved legislation that provides federal recognition to same-sex marriages in a bid to further safeguard gay rights. The law ministry has opposed same-sex marriages in the past and said courts should stay away from the law-making process that falls under parliament's purview. The Supreme Court has given the government until Jan. 6 to submit its responses. "A decision on same-sex marriage in the near future is inevitable.

☆ Lightning kills 907 in India as extreme weather surges in 2022
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +2 min

[1/2] A policeman jumps off a makeshift raft after wading through a flooded area of a slum on the banks of the river Yamuna in New Delhi, India, September 28, 2022. REUTERS/Anushree Fadnavis/File PhotoNEW DELHI, Dec 7 (Reuters) - India saw a big jump in extreme weather events such as heatwaves and lightning strikes this year and related deaths rose to their highest in three years, government data showed on Wednesday, with scientists blaming climate change for the heavy toll. There were nearly eight times as many heatwaves, 27 in all, and lightning strikes rose more than 111 times, killing 907 people, the Ministry of Earth Sciences said in a report to parliament. Lightning and floods and heavy rains accounted for 78% of the deaths this year, the data showed. India is the world's third-largest carbon polluter, though its per-capita emissions are much lower than many developed countries.

☆ New Delhi wrestles with 'hazardous' air pollution, primary schools shut
▼ + stars: | 2022-11-04 | by ( Tanvi Mehta | Ian Ransom | ) www.reuters.com time to read: +3 min

NEW DELHI, Nov 4 (Reuters) - Authorities in New Delhi ordered primary schools to shut from Saturday, and told schools to stop outdoor activities for older children as air in the world's most polluted capital had become a severe risk to health. The chart below shows the daily maximum PM 2.5 concentration at the U.S. Embassy New Delhi since 2015. Delhi environment minister Gopal Rai said going forward 50% of Delhi government employees would be told to work from home, and he urged private firms to take similar steps. School girls walk towards a school as they reopened after remaining closed for nearly 15 days due to a spike in air pollution, on a smoggy morning in New Delhi, India, November 29, 2021. According to data compiled by the Swiss group IQAir, New Delhi has been the world's most polluted capital for the past four years.

☆ India festival spending booms despite inflation worries, global slowdown
▼ + stars: | 2022-10-14 | by ( Manoj Kumar | ) www.reuters.com time to read: +7 min

The sales would include nearly $15.2 billion offline sales, compared to about $8.5 billion in 2019, according to the Confederation of All India Traders (CAIT). read moreBut economists said the sense in India was that inflation has peaked while economic activity was picking up. The bump in consumer demand is expected to support economic growth of around 6.5% in the fiscal year ending March 2023, the highest among the world's major economies. Credit demand increases Credit demand increasesThe retail boom is also a boon for the government - goods and services tax collections, a barometer of consumer demand, rose 26% year-on-year in September, data showed. "After two consecutive downbeat festive seasons, consumer sentiment and spending appear to have rebounded this year... which may boost economic growth in the current quarter, but may not sustain thereafter."

Karnataka state's ban on the garment in schools in February unleashed protests by Muslim students and their parents. "We have a divergence of opinion," said Supreme Court Justice Hemant Gupta, one of two judges on the panel. The chief justice would set up a larger bench to further consider the case, they said but did not say by when that could happen. Supreme Court decisions apply nationwide. "Hopefully, the chief justice will set up the larger bench soon and we will have a definitive verdict," he said by telephone.

☆ India tells Gambia it is probing childrens' deaths linked to India-made drugs
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +2 min

Logo of the Maiden Pharmaceuticals Ltd. company is seen on a board outside their office in New Delhi, India, October 6, 2022. The matter "is being seriously investigated by appropriate authorities," India's foreign minister S Jaishankar said in a tweet. Known as a "pharmacy of the world", India supplies 45% of all generic medicines to Africa. The WHO issued a medical product alert last week asking regulators to remove Maiden goods from the market. The U.N. health agency said that laboratory analysis of four Maiden products - Promethazine Oral Solution, Kofexmalin Baby Cough Syrup, Makoff Baby Cough Syrup and Magrip N Cold Syrup - had "unacceptable" amounts of diethylene glycol and ethylene glycol, which can be toxic and cause acute kidney injury.

A man takes a picture of a friend in front of a sign showing installation of the 5G network in New Delhi, India, October 3, 2022. The agenda includes holding talks "to prioritise" and release software upgrades for supporting the high-speed network, the notice for the closed-door meeting stated. Airtel's website on Tuesday showed "Apple yet to update software" for all of Apple iPhones' 12 to 14 models under its 5G compatible section. A third source with direct knowledge of the issue said Apple was in the process of testing and validating different 5G offerings from network providers in India. Lack of 5G software upgrades has already irked users.

☆ India bans Islamic group PFI, accuses it of terrorism
▼ + stars: | 2022-09-28 | by ( Krishna N. Das | ) www.reuters.com time to read: +4 min

A man walks past the old office of Popular Front of India (PFI) Islamic group, in New Delhi, India, September 28, 2022. REUTERS/Anushree FadnavisSummary Bans imposed on PFI, eight affiliates for five yearsGovernment says PFI involved in 'terrorism'PFI dissolves itself - statementPFI student wing CFI decries 'vendetta'NEW DELHI, Sept 28 (Reuters) - India declared the Popular Front of India (PFI) Islamic group and its affiliates unlawful on Wednesday, accusing them of involvement in terrorism and banning them for five years, after authorities detained more than 100 PFI members this month. The PFI's now-banned student wing, the Campus Front of India (CFI), called the government action a political vendetta and propaganda. The government said in a notification it had banned the PFI and affiliates CFI, Rehab India Foundation, All India Imams Council, National Confederation of Human Rights Organisation, National Women's Front, Junior Front, Empower India Foundation and Rehab Foundation, Kerala. The PFI came together in late 2006 and was launched formally the next year with the merger of three organisations based in south India.

Search resuls for: "Anushree"

25 mentions found