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Biocon's executive chairperson Kiran Mazumdar-Shaw on Friday said she expects consolidation and acceleration of biosimilar business along with further reduction of debt taken to fund the $3.3-billion acquisition of Viatris biosimilar business to be key priorities in FY25. «FY24 was a very transformational year for us, because we made a very successful transition of the (Viatris biosimilar business) acquisition in a seamless way,» Mazumdar-Shaw said in an interview to ET. «FY25 will be a year of consolidation. It will be a year of acceleration, and of course, we want fiscal stabilization as well, and therefore we're looking at paring down the debt further,» Mazumdar-Shaw added. Biocon has reduced $250 million out of its $1.2 billion debt in FY24.

Reserve Bank of India has urged asset reconstruction companies (ARCs) to follow the regulations in letter and spirit, and directed them to conduct the recovery process responsibly by following transparent and non-discriminatory practices. This was conveyed by senior RBI officials at a closed-door conference the banking regulator held with top management of 27 registered ARCs. RBI deputy governors M Rajeshwar Rao and Swaminathan J gave keynote addresses in the conference, 'Governance in ARCs — Towards Effective Resolutions'. It was attended by senior-most RBI officials and 80 participants from the ARC sector.

₹500 crore from fresh investors as it plans to enter new categories as well as allow early investors to exit. Private equity firm Rabo Equity Advisors, which was the investment advisors for India Agri Business Fund II acquired a minority stake in Cremica for $15 million in June 2016. In 2022, Rabo Equity Advisors—where the Dutch lender Rabo Bank held stake—sold its partnership in India Agri Business Fund to advisory firm Kroll Inc's asset management unit.

One of the more popular tax credits, claimed by more than five million Canadians annually, is the medical expense tax credit (METC), which provides tax relief for qualifying above-average medical or disability-related expenses incurred by individuals on behalf of themselves, a spouse or common-law partner, or a dependent relative.

ONDC (open network for digital commerce) has started getting traction in the e-commerce sector and so far five lakh sellers have been onboarded on the platform, a senior official said on Friday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said the ONDC was set up primarily to democratise and make digital commerce accessible to smaller players. «It has started getting traction in the last two years. Five lakh sellers have on-boarded of which 70 per cent are small and medium sellers. In April, ONDC facilitated 7.22 million transactions,» Singh told reporters here. The ONDC aims to promote an open platform for all aspects of e-commerce retail. It would help small retailers expand their business through e-commerce medium and reduce dominance of giants in the sector.

DXC Technology slumped 18% on Friday, after the IT services provider unveiled a new revamp and forecast fiscal 2025 revenue and profit below estimates. The latest attempt comes as a sale bid failed last year and exits of top executives and a slowdown due to high interest rates hampered efforts to pivot away from its declining legacy business of IT outsourcing services to cloud-based solutions.

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San Francisco-based RIA Robertson Stephens has announced another move broadening its footprint in the Western US.

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CBSE Board Results 2024 marks verification: The Central Board of Secondary Education (CBSE) has opened the window to register for verification of marks for those Class 12 students who are unsatisfied with the Board exam 2024 announced on Monday, i.e. May 13, 2024 at cbse.gov.in. In addition to the mark’s verification, students can also apply for photocopy of answer sheets and re-evaluation.

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Highways throughout southern Ontario will be busy this Victoria Day long weekend as residents mark the unofficial start to summer.

Question: Kindly guide us on the tax benefits associated with making contributions and withdrawal to/from the National Pension System.

In recent years, the shift towards sustainable living has brought the electric vehicle (EV) industry into the spotlight. India is experiencing a significant surge in EV adoption, and there are compelling reasons why now may be the ideal time to consider purchasing an electric vehicle in the country.

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NEW DELHI : In order to come up with more clarity about provisions for drugs to be declared as over-the-counter (OTC), the centre has set a three months timeframe for an all doctor's expert committee to provide with suggestion, according to officials aware of the matter. The expert committee consists of eight members including doctors from LHMC, Safdarjung Hospital, PGIMER, SMS Medical College to examine matters regarding amendment of the Drugs Rules in line with recommendations from the Drugs Technical Advisory Board (DTAB).

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credit rating. Higher the rating, the safer the instrument and conversely, the lower the rating, the riskier the investment. However, one may wonder what are the criteria based on which these agencies such as CRISIL and ICRA rate the financial products.

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