Israel Financial News

Sun Pharma and Israel-based Moebius Medical on Friday said that USFDA has granted fast track designation to novel non-opioid therapy MM-II against osteoarthritis knee pain. USFDA fast track designation allows expedited review of potential therapies to treat serious conditions and fill an unmet medical need. Among other benefits, companies whose investigational products are granted FTD are eligible for more frequent interactions with the USFDA during clinical development and potentially accelerated approval and priority review. MM2 is currently in planning stages for phase 3 clinical trials. Data from a randomized, controlled, Phase 2b study showed that a single intra-articular injection of 3mL of MM-II provided greater pain relief than placebo for up to 26 weeks.

Piyush Goyal on Friday said he has invited the steel industry to discuss about the «unfair» competition that some of them are facing to take appropriate steps with a view to promote the sector's growth. Certain steel industry players have raised concerns over rising imports from China at lower rates. «I have invited the steel industry...to understand the unfair competition that some of them are facing and take appropriate measures so that the steel industry remains vibrant, continues to grow and adds jobs to the Indian economy,» Goyal told reporters here. On September 5, he mooted the idea of introducing a border adjustment tax to protect the domestic players by providing a level-playing field against increasing imports.

US National Security Council spokesman John Kirby stated that the Biden administration believes that the ceasefire deal between Israel and Hamas is 90 per cent agreed on, adding, «That's how close we believe we are,» Al Jazeera reported. «Nothing is negotiated until everything is negotiated,» Kirby said. He noted that several detailed issues remain to be resolved, adding that «that's when things get difficult.» «You call that optimistic. I call that accurate. That's how close we believe we are. That's where we have gotten to. The basic framework of the deal has been agreed to,» Kirby said.

Blinken said on Thursday it was incumbent on both Israel and Palestinian Islamist group Hamas to say yes on remaining issues to reach a Gaza ceasefire deal, which has faced obstacles in negotiations across months. «Based on what I have seen, 90% is agreed but there are a few critical issues that remain,» including the so-called Philadelphi corridor on the southern edge of the Gaza Strip bordering Egypt, Blinken said at a press briefing in Haiti. He said there were also some gaps in the agreement in how Israeli hostages and Palestinian prisoners are exchanged.

Israel's Foreign Minister met on Thursday with the visiting Romanian Foreign Minister, Luminita Odobescu. Katz said he thanked Odobescu for her continued support after the October 7 Hamas terror massacre and for Israel's efforts to free all the hostages. He also told Odobescu that Israel's war is «the war of the entire Western world against the Iranian axis of evil and its proxies.»

TORONTO — The group of authors in contention for this year’s $100,000 Giller Prize has been whittled down to 12, but one name is notably absent from the list: Bank of Nova Scotia.

BJP MLA Rajkumar Imo Singh has sought for banning a Kuki group alleging the group has been taking financial aid to buy lethal drones, bombs and ammunition Singh, who is also the son-in-law of Chief Minister N Biren Singh, appealed to the Home Ministry to ban the Kuki group Indigenous Tribal Leaders Forum (ITLF) alleging the group has been taking financial aid to buy lethal drones, bombs and ammunition. The MLA stated in X uploaded purported photos of a person with an identity card under the name 'Haopu Vaiphei' and the words 'ITLF Drone Squad'.

Coca-Cola and rival PepsiCo spent hundreds of millions of dollars over decades building demand for their soft drinks in Muslim-majority countries including Egypt to Pakistan. Now, both face a challenge from local sodas in those countries due to consumer boycotts that target the globe-straddling brands as symbols of America, and by extension Israel, at a time of war in Gaza. In Egypt, sales of Coke have cratered this year, while local brand V7 exported three times as many bottles of its own cola in the Middle East and the wider region than last year. In Bangladesh, an outcry forced Coca-Cola to cancel an ad campaign against the boycott. And across the Middle East, Pepsi's rapid growth evaporated after the Gaza war started in October. Pakistani corporate executive Sunbal Hassan kept Coke and Pepsi off her wedding menu in Karachi in April. She said she didn't want to feel her money had reached the tax coffers of the United States, Israel's staunchest ally.

Gold prices held steady on Wednesday as investors braced for a monthly U.S. payrolls report that could influence the size of a likely interest rate cut this month.

Salvagers have abandoned an effort to tow away a burning oil tanker in the Red Sea targeted by Yemen’s Houthi rebels

The Israeli military says it has killed a Hamas militant who appeared in a widely viewed video from Oct. 7, where he was seen drinking from a bottle of cola in front of two children wounded in a grenade attack that had just killed their father

Nouriel Roubini, Professor Emeritus of Economics and International Business, Stern School of Business, New York University, says there is an element of frothiness in US stock markets. Part of it is driven by the optimism about artificial intelligence (AI) radically changing industry, economies, and the world. Some correction might occur, but it is unlikely to be massive, especially if the economy keeps on growing and the Fed starts cutting rates. Roubini says in case of a Trump win, if he has a radical economic policy, there could be higher inflation, lower economic growth, and a significant correction with higher bond yields and lower stock prices. If he wisely chooses economic advisors who are more mainstream, and if he realises that the debt of the US is unsustainable and he has to do fiscal retrenchment, maybe those economic advisors can suggest a more moderate course of action.

silver December futures contracts were trading at Rs 84,426/kg, down by 0.15% or Rs 128. Gold prices have fallen by Rs 660/10 gm in the last 3 days while silver has dipped by Rs 2,600 per kilogram.

The U.K. government says it's suspending exports of some weapons to Israel because they could be used to break international law

Israel because there is a risk such equipment might be used to commit serious violations of international humanitarian law, foreign minister David Lammy said on Monday. Lammy said the decision to suspend the licences did not amount to a blanket ban or an arms embargo, but only involved those that could be used in the conflict between Israel and Hamas in the Palestinian enclave of Gaza. Soon after the Labour Party won an election in July, Lammy said he would update a review on arms sales to Britain's ally Israel to ensure these complied with international law.

A rare call for a general strike in Israel to protest the failure to return hostages held in Gaza led to closures and other disruptions around the country, including at its main international airport

JERUSALEM (AP) — Grieving and angry Israelis surged into the streets Sunday night after six more hostages were found dead in Gaza, and demanded — chanting “Now! Now!” — that Prime Minister Benjamin Netanyahu reach a cease-fire with Hamas to bring the remaining captives home.

health authorities and United Nations agencies on Sunday began a large-scale campaign of vaccinations against polio in the Gaza Strip, hoping to prevent an outbreak in the territory that has been ravaged by the ongoing Israel-Hamas war. Authorities plan to vaccinate children in central Gaza until Wednesday before moving on to the more devastated northern and southern parts of the strip. The campaign began with a small number of vaccinations on Saturday and aims to reach about 640,000 children. Israel has agreed to limited pauses in fighting to facilitate the campaign, according to the World Health Organization.

Ukraine’s incursion into Kursk isn’t just a brash bid to upend Russia’s invasion. It also marks the first time that a declared nuclear power has faced invasion and occupation by another country. For decades, nuclear-escalation theory has presumed that countries with atomic weapons were largely immune from attack because an aggressor risked triggering armageddon.

Israel recovered the bodies of six hostages in Gaza, including that of Israeli-American hostage Hersh Goldberg-Polin, U.S. President Joe Biden said late on Saturday. «Earlier today, in a tunnel under the city of Rafah, Israeli forces recovered six bodies of hostages held by Hamas,» Biden said in a statement issued by the White House. «I am devastated and outraged.» The Israeli military said in a statement early on Sunday that the bodies of Carmel Gat, Eden Yerushalmi, Alexander Lobanov, Almog Sarusi and Ori Danino had been brought to Israel.

From California to Israel, companies are aiming to grow cocoa beyond the tropics in a bid to buffer chocolate's key ingredient from climate change