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Saturday, April 5, 2008

Inflation to soar further, likely to touch 7.5 % mark

ASSOCHAM on Saturday predicted that it would continue to soar for next three to four months, and may even touch the 7.5 per cent mark.

"The Wholesale Price Index (WPI) based inflation rate which is already at the highest in the last three years, could even surpass the 7.5 percent mark," predicts ASSOCHAM President Venugopal Dhoot.

In order to check inflation, the Cabinet Committee on Prices (CCP) chaired by Prime Minister Manmohan Singh on Monday, decided to abolish import duty on all crude edible oils, including palm and soya, and banned the export of non-basmati rice and pulses to contain inflation.

The Central Government also decided to raise the Minimum Export Price of basmati rice to 1,200 dollars per ton from 1100 dollars, to balance the demand " supply in the domestic market and to cut import duty on butter and clarified butter (ghee) from 40 per cent to 30 per cent, besides, the 15 per cent import duty on maize was abolished, applicable on import of up to five lakh tons.

The CCP also advised states to impose limits on stocks of commodities under the Essential Commodities Act, besides asking steel producers not to raise prices.

The study done by the business conglomerate also reveals that the Central Government's efforts to contain inflation will come start-yielding results by August when inflation is likely to fall at of four per cent.

Experts believe that after all possible measures taken by the government, now, everyone is waiting for Reserve Bank of India's (RBI) annual credit policy that will be revealed on April 29.

The industry body has asked the RBI to increase the interest rates, specifically the Cash Reserve Ratio (CRR) to restrain liquidity.

The problem of inflation doesn't seem to be India-centric with China too struggling with a rising inflation rate of over nine percent.

According to analysts, the announcement of Sixth Pay Commission recommendations, and provisions for enhanced expenditure on social sectors in the Budget 2008-09 coupled with rising crude oil prices have also raised expectations about high inflation.

Tuesday, April 1, 2008

Indian Economy - Rupee v/s US $ daily trends - April 2008

Daily rupee trends against US $ date wise for april 2008 (at stock market closing time):

24/4/2008 : (Rs v/s US $) - 39.95 - Down(-0.01)

19/4/2008 : (Rs v/s US $) - 39.96 - Down(-0.17)

17/4/2008 : (Rs v/s US $) - 39.79 - Up^0.16

16/4/2008 : (Rs v/s US $) - 39.95 - Down(-0.11)

15/4/2008 : (Rs v/s US $) - 39.84 - (No change)

14/4/2008 : (Rs v/s US $) - 39.84 - Up^0.10

11/4/2008 : (Rs v/s US $) - 39.94 - Down(-0.10)

10/4/2008 : (Rs v/s US $) - 39.84 - Up^0.18

9/4/2008 : (Rs v/s US $) - 40.02 - Up^0.09

8/4/2008 : (Rs v/s US $) - 40.11 - Down(-0.14)

7/4/2008 : (Rs v/s US $) - 39.97 - Up^0.06 (wrt 6/4/08 rates)

4/4/2008 : (Rs v/s US $) - 39.97 - Up^0.11

3/4/2008 : (Rs v/s US $) - 40.08 - Down(-0.09)

2/4/2008 : (Rs v/s US $) - 39.99 - Down(-0.02)

1/4/2008 : (Rs v/s US $) - 39.97 - Up^0.14

Sunday, March 30, 2008

Indian Business | Health Care / Biotech Sector Updates

Health care, biotech and Pharmaceuticals sector are vital sectors of indian economy anh latest updates are available here for both these sectors also update yourself with latest updates from Auto Sector Updates, Jobs Sector Updates, Energy Sector Updates, Media sector Updates , Entertainment Sector Updates , Telecom Sector Updates , Banking Sector Updates , Finance Sector Updates , Healthcare Sector Updates , Biotech Sector Updates , Pharmaceuticals Sector Updates - and get the comprehensive news about growth of indian economy.

Health Care Sector Latest Updates:

  • Avesthagen launches bioactive Teestar - (23/4/2008)
  • Biodiversity loss will wipe out cures: Experts - (23/4/2008)
  • Biocon launches stand alone cardiology division - (22/4/2008)
  • MakroCare announces the completion of Oracle Clinical Implementation - (22/4/2008)
  • GCC investors plan medical city in India - (22/4/2008)
  • ArcelorMittal plans a string of health centres in India - (21/4/2008)
  • Delhi govt in talks with Fortis, Apollo for emergency services - (19/4/2008)
  • Prozac might cure lazy eye, say scientists - (19/4/2008)
  • Bombay hospital introduces ozone therapy for patients - (14/4/2008)
  • Yash Birla to enter domestic health & wellness market - (14/4/2008)
  • India's public healthcare in serious decline: Planning Commission - (13/4/2008)
  • India's foray into telemedicine faces difficulties - (13/4/2008)
  • Opto Circuits completes acquisition of Criticare Systems - (11/4/2008)
  • Goa-based Sangath wins $350,000 MacArthur grant - (11/4/2008)
  • Ranbaxy, DBT signs agreement for joint research - (9/4/2008)
  • Suven Life Science enters into deal with Chinese company - (8/4/2008)
  • Opto Circuits acquires majority stake in Criticare Systems - (8/4/2008)
  • Planning Commission paints grim picture of healthcare
  • Jubilant Organosys acquires Canada's Draxis for $255 mn
  • Ayurvedic Association agreement with American Herbal Association
  • Wockhardt Hospitals to raise funds through PE
  • Manipal Cure to invest Rs 300 cr for expansion
  • US co GHIS plans $500 mn fund for healthcare sector in India
  • Dr Reddy’s buys Italian generics firm
  • Apollo Hospitals to set up 25-30 maternity centres
  • Govt may use compulsory licensing for drug companies only in emergency
  • RFCL to acquire Germany's Bremer Pharma GmbH
  • Realty players woo healthcare firms to meet govt norms
  • Suven receives two product patents associated with Neurodegenerative
  • Medical parks will be built across the country: Health Minister
  • 6 still in pipeline, Ramadoss plans 2 more 'AIIMS'
  • R-ADAG plans medical cities across country
  • US seeks India's help to improve global healthcare
  • Lifeline health insurance launched in kerala
  • Lifeline Group of Hospitals signs MoU with Zambian govt
  • Piramal Diagnostic eyeing acquisitions
  • Suven Life Sciences, US co enter deal on pre-clinical research
  • Polio project to be reviewed: Health Minister
  • Max New York Life Insurance makes foray into health sector
  • Reliance Life Insurance launches Reliance Wealth + Health Plan
  • Manipal group to buy 40% in Kerala hospital for Rs 100 cr
  • Fresenius Kabi to expand product portfolio in India
  • Country's first hi-tech TomoTherapy system installed
  • CII welcomes allocation to health sector in annual budget
  • Budget provides an incentive for quality healthcare
  • Government extends 5 yr tax holiday for all hospitals
  • Shasun Chemicals enters non-exclusive deal with Merck

Update yourself with Biotech Sector Latest Updates:

  • Asia gets its first Bio Safety Level-4 facility - (23/4/2008)
  • Biocon to buy US firm for $400 mn: Report - (14/4/2008)
  • Biocon eyes more buys to boost growth - (27/2/2008)
  • India to develop microbicides at earliest: Ramadoss
  • Biocon picks up 70% in German pharma co AxiCorp for e30 mn
  • Biotech cos raise record $9.1 bn venture capital
  • ICGEB joins with US based group to develop vaccines
  • Biotech industry urges government to `Walk the Talk'
  • New biochip technology may eliminate animal testing
  • Bengal to rope in biotech giants
  • Scientists spot gene behind alcoholism
  • Biocon to launch oral insulin drug by 2010
  • Glenmark eyes Indonesian co

Latest Updates from Pharmaceuticals Sector :

  • Lupin's Japanese arm gets nod to sell 10 products - (25/4/2008)
  • Aventis to launch three new drugs in 2008 - (24/4/2008)
  • Promotional expenses of pharma cos to be capped - (24/4/2008)
  • PEs, banks in talks to buy stake in SRL Ranbaxy - (24/4/2008)
  • Fresenius Kabi makes open offer to buy 20% of Dabur Pharma - (23/4/2008)
  • Lupin enters gynaecology segment - (23/4/2008)
  • Ranbaxy net up 7% to Rs 153 cr - (23/4/2008)
  • HC restrains Cipla from exporting anti-cancer drug - (23/4/2008)
  • Five pharma companies to face legal action - (23/4/2008)
  • Ranbaxy in strategic alliance with Orchid Chemicals - (23/4/2008)
  • Sale of fine chemicals unit props Glaxo Pharma profit - (22/4/2008)
  • US-based Merck to double workforce by year-end - (22/4/2008)
  • GlaxoSmithKline Pharma to launch more vaccines in India - (22/4/2008)
  • Fresenius Kabi to invest $70 mn, announces open offer - (22/4/2008)
  • Pharma sale would expedite the growth of firm - (21/4/2008)
  • German co Fresenius Kabi picks up 73% in Dabur Pharma - (20/4/2008)
  • Singapore firm to acquire 73.27% stake in Dabur Pharma - (19/4/2008)
  • Pharmas give wrong prescription, can't barter cheap drugs with policy - (19/4/2008)
  • Domestic growth may lift Q4 pharma margins - (18/4/2008)
  • Mankind plans IPO to raise Rs 400 cr for cape1x - (17/4/2008)
  • RFCL launches manufacturing facility in Haridwar - (16/4/2008)
  • Ranbaxy strikes deal on Nexium with AstraZeneca - (16/4/2008)
  • Nicholas Piramal buys two brand groups from Khandelwal Labs - (15/4/2008)
  • Nicholas Piramal plans Rs 1.16 bn brand buys - (15/4/2008)
  • Ranbaxy to sell ulcer drug Nexium in US - (15/4/2008)
  • Astra settles Nexium patent dispute with Ranbaxy - (15/4/2008)
  • Drug firms seek to trade off controls - (15/4/2008)
  • Price regulator wants pharma cos to pass on duty cut benefits - (14/4/2008)
  • Strides Arcolab promoters hike stake to 21% - (14/4/2008)
  • India to see 8% growth in drug sales annually - (14/4/2008)
  • Solrex close to triggering open offer in Orchid - (13/4/2008)
  • Orchid Chemicals sees $100 million sales from Japan in 5 years - (10/4/2008)
  • No hostile intentions on Orchid: Ranbaxy - (10/4/2008)
  • Dabur Pharma to supply anti-cancer drug to Thailand - (9/4/2008)
  • Ranbaxy, Biotech Department in new drug discovery deal - (9/4/2008)
  • Orchid owners have option to convert warrants to equity - (9/4/2008)
  • Orchid MD denies meeting Malvinder - (9/4/2008)
  • Orchid may use warrants as defence - (9/4/2008)
  • Ranbaxy to market Amlodipine tablets in Japan - (8/4/2008)
  • Ranbaxy picks up 9.54% stake in Orchid Chemicals - (8/4/2008)
  • Novartis buys stake in Nestle eyecare unit for $11 bn - (8/4/2008)
  • CD Pharma to introduce 4 drugs in India with licence agreement
  • Nicholas Piramal expecting 35% growth from Baddi plant
  • Fortis Group cos SRL Ranbaxy & Fortis Healthworld planning stake sale to PEs
  • Govt creating database of traditional Indian drugs
  • Dr. Reddy's buys Italy's Jet Generici
  • Ranbaxy launches Bio-generic injectable for Osteoporosis
  • Dr Reddy's to acquire part of Dowpharma business
  • RFCL acquires Bremer Pharma
  • Guardian Lifecare in talks to raise Rs 100 cr
  • Sun Pharma launches generic Ethyol in US
  • Sun Pharma launches Amifostine for injection 500mg
  • NGO to seek compulsory licensing of cancer drugs
  • Herbal mkt to grow to Rs 14,500 cr by 2012: Assocham
  • Ranbaxy’s 2007 dividend goes up to 170%
  • Jupiter Bioscience eyes acquisitions in US, Europe
  • Role of CFOs in Pharma Cos undergoing transformation: E&Y
  • Pfizer again sues Ranbaxy over Lipitor
  • Aurobindo to be on prowl again in EU
  • Ranbaxy, Cipla among Indian cos in race for $200 mn drug deal
  • Arch Pharmalabs Ltd changing horizons
  • Cipla gets Rs 62 cr interest demand from NPPA
  • Aurobindo Pharma acquires Italian company
  • Sun Pharma gets US FDA nod for benzonatate
  • Vitabiotics to launch 3 OTC brands in India
  • Govt all set to fix profit margin for chemists
  • Pharma MNCs losing turf to Indian companies
  • Natco plans copy of Roche cancer drug
  • Sun Pharma gets USFDA nod for anti-cough drug
  • Cipla scores a generic win over Roche
  • Ranbaxy fights NPPA's price control move
  • Sun Pharma gets FDA nod for generic Cerebyx
  • Delhi HC refuses relief to Swiss Company La Roche against Cipla
  • Sun Pharma gets USFDA approval for fosphenytoin sodium injection
  • US wants FDA inspectors stationed in India
  • Strides Arcolab gets approval for Fosphenytoin injection
  • Ranbaxy to introduce INERSAN brand in India and Nepal
  • Ranbaxy Labs enters deal CD Pharma to market INERSAN
  • Accenture to expand lifesciences R&D unit
  • Glenmark Pharma gets US marketing rights for Clobetasol Propionate
  • Sun Pharma gets USFDA approval to market generic Ethyol
  • Retail pharma logs 13.9% growth in Jan
  • IOL Chemicals to invest Rs 300 cr in next one year
  • US FDA approves Glenmark's Nabumetone & Hydroxyzine Hydrochloride