Sun Pharma to sell US-based manufacturing unit to Nostrum Lab

Drug major Sun Pharma today said it has sold its manufacturing unit in Ohio to Nostrum Laboratories Inc for an undisclosed sum as part of the company’s consolidation of manufacturing business in the US. Sun Pharmaceutical Industries said in a regulatory filing that one of its wholly-owned subsidiaries has entered into an agreement with Nostrum Laboratories Inc for the divestment ... Read More »

Janet Yellen must hike rates for ‘Fed up’ markets this week

It’s that time again: won’t they or will they? In either case, the US Federal Reserve and Janet Yellen are all set to destabilise the asset markets. The fact that this destabilising price action will play out sooner rather than later is the only silver lining of a potential 25 basis point rate hike on December 16th. Firstly, let us ... Read More »

Air India likely to make Rs 6 crore profit this fiscal, first since merger

For the first time since merger of Indian Airlines into Air India, the national carrier is likely to report an operating profit of about Rs six crores in the current fiscal, owing to a combination of factors including lower fuel costs and Dreamliner operations, among others. The Dreamliners (Boeing 787-800) are helping the company to turnaround it’s business in a ... Read More »

Pearson in talks to sell ‘the Economist’ magazine, says Financial Times

The Financial Times reports that its parent company, Pearson PLC, is in talks to sell its 50 percent stake in the Economist magazine. The report says the talks involve other shareholders in the Economist Group. The FT said Saturday its report is based on people familiar with the negotiations. It did not indicate a sale is imminent. Pearson is in ... Read More »

UAE may take time to deport IM financier, Pakistan using diplomatic channels to stall process

ndia’s efforts to get Abdul Wahid Siddibapa, the alleged financer of Indian Mujahideen terrorist group, deported from the United Arab Emirates have come to a nought, with the West Asian country making it clear that Wahid will be sent to India only after the lengthy process of extradition is complete. Wahid, who was caught in the UAE last year on ... Read More »

US Federal Reserve rate hike wrong move for emerging economies

An expected first interest rate rate in almost a decade by the Federal Reserve on Wednesday could squeeze emerging economies’ room for manoeuvre as they try to stave off recession, analysts warn. The rise would mark “the end of a very big illusion,” says Christine Rifflart, economist with French think tank OFCE. Emerging economies have done well out of the ... Read More »