President Financial News

Novo Nordisk's oral semaglutide tablet, branded Rybelsus, is gaining popularity in India though doctors have cautioned against indiscriminate use of the drug approved for treating diabetes and also for weight reduction. Sales of the drug have more than doubled in the past year to ₹363 crore in April from ₹147 crore a year earlier, showed data from market researcher Pharmarack. Touted as a game changer for treating Type 2 diabetes, Rybelsus was launched in an oral form in India in 2022. The pill is marketed in three strengths (3, 7 and 14 mg), and is priced at about ₹10,000 a month.

Air India Express on Wednesday cancelled more than 80 flights after nearly 100 cabin crew members reported sick, protesting human resource practices of the airline. CEO Aloke Singh said in a message to employees that he is open to discussion with the cabin crew and that the airline will curtail flights for the next few days to mitigate the disruption. The airline operates around 360 flights per day. The civil aviation ministry sought a report from the airline, while Delhi's regional labour commissioner Ashok Perumalla pushed the company to settle the issues raised by the protesting staff.

‘Looked at myself in mirror and I appeared…’: Himanta Biswa Sarma on Sam Pitroda's 'Chinese, African' remark Sam Pitroda, in an interview to 'The Statesman', while reflecting upon the democracy in India said, “We have survived 75 years in a very happy environment where people could live together, leaving aside few fights here and there. We could hold a country together as diverse as India, where people on east look like Chinese, people on West look like Arab, people on North look like white and maybe people on South look like Africans." As the matter snowballed, PM Modi asked if Congress' key ally DMK will snap ties with it.

Council of Economics Advisers Chairman Kevin Hassett weighs in on the Fed's monetary decision, consumer credit data, oil prices and anti-Israel protests.

Addressing a Lok Sabha election rally at Warangal in Telangana, PM Modi slammed the Congress party. The prime minister said: The Prime Minister was apparently referring to Congress leader Sam Pitroda's alleged comments that people in the East of India resembled the Chinese, while those from the South looked like Africans.

rubber-stamp parliament, is under way in Beijing. The top leaders and thousands of delegates will attend for a week. So far the signals are not reassuring.

“inheritance tax" statement which is still a hot topic among the BJP leaders during election rallies. Condemning Sam Pitroda's remarks, Himanta Biswa Sarma said, “After I heard Sam Pitroda's statement, I looked at myself in the mirror and I appear as a proud Assamese and Indian, not as a Chinese...This is a racist comment." Himanta Biswa Sarma also attacked Rahul Gandhi for not “disowning" Sam Pitroda yet. “There is one thing that those who are near Rahul Gandhi always insult the northeast.

Arvinder Singh Lovely, who recently resigned from the Delhi Congress president's post, on Wednesday said he will rather quit politics instead of leaving the BJP that he has now joined. Lovely along with other senior Delhi Congress leaders, including former minister Raj Kumar Chauhan, Naseeb Singh and Amit Malik, joined the BJP last week. Previously, he had quit the Congress and joined the BJP along with Malik in April 2017. However, within a few months he switched back to the Congress in 2018. Since then he was in the Congress that he left over differences with the party leadership over choice of candidates for the Lok Sabha polls in Delhi.

when, on Tuesday, three Independent MLAs – Sombir Sangwan (Dadri), Randhir Singh Gollen (Pundri) and Dharampal Gonder (Nilokheri) – who have supported the saffron party since 2019, withdrew their support, bringing the BJP's majority to a minority in the 90-member (two seats are vacant) Assembly. The halfway mark is 45, and the NDA currently has 43 MLAs. The government needs the support of two more members to continue holding the reins of the government.

'Neither against Muslims, nor Islam': PM Modi says ‘Muslim community should….’ The Congress party president Mallikarjun Kharge also slammed Modi over the remarks and said that the prime minister was in jittery after Phase 3 of Lok Sabha elections. "Times are changing. Friends are no longer friends.

Vietnam’s anti-corruption drive, which the ruling Communist Party chief Nguyen Phu Trong likened to a “blazing furnace," is running hot. This year alone, two of the four pillars of power, including the chairman of the parliament and the country’s president, left their posts amid graft allegations. Last month, Truong My Lan, a real estate tycoon and Vietnam’s richest woman, was sentenced to death for her role in a $12 billion fraud case that involved Saigon Commercial Bank, one of its largest lenders.

AIADMK general secretary Edappadi K Palaniswami on Wednesday said the DMK regime burdening people by borrowing about Rs 3.5 lakh crore is its 'achievement' that marked its 3 years in office and the public would soon prove that it is an «anti-people» government. Slamming Chief Minister M K Stalin for asserting that he has proved through deeds that his party-led government has delivered, Palaniswami accused the DMK government of being an «idle regime» and not useful for the people. Palaniswami, also the leader of opposition, alleged that the DMK government has done no good for the people and did not fulfill assurances that would be beneficial to the people and the Stalin-led regime deceived the people. «Burdening people by borrowing Rs 3.5 lakh crore in about 3 years is the DMK government's achievement,» Palaniswami alleged in a statement.

retail sector in India registered a growth of 27 per cent on an annual basis in April, driven by stable fuel prices and new model launches even as Lok Sabha elections dampened consumer sentiment, FADA said in a press release on Wedensday. Retails of two-wheelers increased by 33 per cent while three-wheelers, passenger vehicles, commercial vehicles and tractors grew by 9 per cent, 16 per cent, 2 per cent each, the auto body said. The tractor segment grew by 1 per cent in April. Auto retails in April were buoyed by a favourable market sentiment which was driven by stable fuel prices, a positive monsoon outlook, festive demand and the marriage season.

prices for solar panels, which have slashed profits across the sector, don’t have much room to fall further, according to the chairmen of two of the industry’s biggest firms. The current slump is “irrational” and there’s only a small probability it will continue, Jinko Solar Co. Chairman Li Xiande said in a joint presentation hosted by the Shanghai Stock Exchange. Li answered written questions from investors at the event on Tuesday along with executives from other firms, including Trina Solar Co. and CSI Solar Co. The companies are trying to turn a corner after solar manufacturers saw profits vanish as a wave of new factories that were aimed at capturing a growing market came online in the past year. Instead, the new supply has overwhelmed demand, sending panel prices to record lows and annihilating margins.“The price of photovoltaic modules is currently at a low level, and there’s limited room for further decline,” Trina Chairman Gao Jifan said at the presentation.

Donald Trump will be convicted in all or at least a few of the 34 felony charges he is facing in the Manhattan federal court. In a survey poll conducted by USA Today and Suffolk University found that 65% of the respondents expect a guilty verdict on at least some of the 34 charges that Trump is facing in a hush money trial, reports USA Today. Only 23% of those surveyed, disproportionately Trump supporters, say he will be exonerated. The Republican contender has been accused of paying $ 130,000 to adult film star Stormy Daniels and falsifying business records to cover it up.

University of Chicago on Tuesday after administrators who had initially adopted a permissive approach said the protest had crossed a line and caused growing concerns about safety. University President Paul Alivisatos acknowledged the school's role as a protector of freedom of speech after officers in riot gear blocked access to the school's Quad but also took an enough-is-enough stance. «The university remains a place where dissenting voices have many avenues to express themselves, but we cannot enable an environment where the expression of some dominates and disrupts the healthy functioning of the community for the rest,» Alivisatos wrote in a message to the university community.

TAIPEI: Taiwan's military is prepared for any moves China may make around the time President-elect Lai Ching-te takes office later this month, the island's deputy defence minister said on Wednesday. China, which views democratically governed Taiwan as its own territory, has a strong dislike of Lai, believing him to be a dangerous separatist, whose repeated offers of talks it has rejected, including one this month. Lai, like current President Tsai Ing-wen, rejects Beijing's sovereignty claims; both say only the island's people can decide their future. Lai, now vice president, will be inaugurated on May 20.

dollar was back on the front foot on Wednesday, making modest gains after earlier losses from renewed bets on Federal Reserve rate cuts this year, while the yen eased towards the 155 per dollar level and kept intervention risks from Tokyo high. The offshore yuan further retreated from a more than three-month high hit last week, helped by hopes of further policy stimulus from Beijing to shore up its economy. It last stood at 7.2247 per dollar.

Asian stocks lacked direction on Wednesday, while the dollar remained firm despite lower U.S. Treasury yields as markets assessed mixed signals from U.S. policymakers and economic data on the path for Federal Reserve interest rates. The yen remained on the back foot even with the threat of currency intervention from Japanese authorities to support it.

Gold prices were steady on Wednesday, while market participants awaited fresh cues from U.S. Federal Reserve officials for further clarity on the timeline for potential interest rate cuts.

Worldcoin officials want to smooth out their “differences” with Argentina regulators, with Tools for Humanity CEO Alex Blania visiting President Javier Milei’s advisors this week.