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CCI) has approved Ahmedabad-based detergent-to-cement conglomerate Nirma's acquisition of a majority stake in Glenmark Life Sciences (GLS), the competition watchdog said in a statement. Nirma in September has agreed to acquire 75% of Glenmark Life Sciences (GLS) in a deal valued at Rs 5,651.5 crore, or Rs 615 per share. The deal is Nirma’s biggest bet in the pharmaceutical sector. The acquisition will trigger a mandatory open offer to all public shareholders of GLS for an additional 17%. Nirma's spokesperson couldn't be reached. Glenmark's spokesperson declined to comment. GLS is into manufacture of active pharmaceutical ingredients (APIs) and contract development and manufacturing organisation (CDMO) business. Nirma, an unlisted company, was set up by Karsanbhai Patel in 1969 who sold his low-priced detergents in Gujarat as a door-to-door salesman.

Varun Beverages Ltd (VBL), one of PepsiCo’s largest franchise bottlers worldwide, announced the acquisition of South Africa-based Beverage Company (Bevco) along with its wholly-owned subsidiaries at an enterprise value of Rs 1,320 crore, on Tuesday. The proposed transaction is valued at an enterprise level of ZAR 3 billion (Rs 1,320 crore) and will help it expand its geographical footprint in the African market, the company said in a stock exchange filing. BevCo, which has franchise rights from PepsiCo Inc, in South Africa, Lesotho and Eswatini, manufactures and distributes licensed PepsiCo and own-branded non-alcoholic beverages in South Africa.

MV Ruen, which was hijacked by around six pirates, 680 nautical miles east of Bosaso, the commercial capital of Somalia’s breakaway Puntland region, was moved on Monday to Indian stealth destroyer INS Kochi for medical assistance following a bullet injury in firing by pirates, news agency ANI reported Tuesday. The crew member had a bullet injury near his shoulder during the piracy incident but was reported to be stable.

LK Advani, and Murli Manohar Joshi not to attend the consecration of Ram Temple in Ayodhya, scheduled to be held in January 2024, the Vishwa Hindu Parishad (VHP) on Tuesday invited the former deputy prime minister Advani, and Murli Manohar Joshi to Ayodhya next month. Vishwa Hindu Parishad (VHP) president Alok Kumar said that both BJP veterans said that they will try their best to attend the 22 January event in Ayodhya. "The pioneers of the Ram Mandir movement, Advani ji and Murli Manohar Joshi ji were invited to attend the consecration ceremony.

the India Meteorological Department (IMD) has issued no major warning in the state on Wednesday. The weather department said, "Squally weather with wind speed 40-45 kmph gusting to 55 kmph likely to prevail along and off South Tamil Nadu coast, over Gulf of Mannar and adjoining Comorin area. Fishermen are advised not to venture into these sea areas during above mentioned period." In the wake of no IMD alert, Tamil Nadu Chief Secretary Shiv Das Meena said the forecast of heavy rainfall by the IMD was also 'wrong'.

inflation rate held steady at 3.1 per cent in November, Statistics Canada said Tuesday, amid a “broad-based” easing in grocery price hikes.Some economists had expected a decline in the headline inflation figure, but StatCan said higher prices on travel tours and elevated housing costs kept the annual rate steady.Rents were up 7.4 per cent year-over-year — down from the previous month — and mortgage interest costs rose nearly 30 per cent annually, the agency noted.A 26.1 per cent jump in the prices for travel tours last month was offset by drops in the cost of cellular services, which StatCan said related to Black Friday deals in November.Gas prices were down last month but to a lesser extent than October, which the agency said put upward pressure on the monthly inflation figure. A drop in the price of fuel oil helped to reduce price pressures in the month, with StatCan noting the Liberal government’s temporary suspension of the federal carbon levy on home heating oil “contributed to the decline.”November was the fifth straight month that food inflation slowed, the agency noted, with grocery prices rising 4.7 per cent annually in the month.StatCan said that the easing at the grocery store was “broad-based,” with price hikes on every component in the grocery basket cooling from October’s increases.

The International Monetary Fund has reclassified India's «de facto» exchange rate regime to «stabilized arrangement» from «floating» for December 2022 to October 2023, the first such instance of such reclassification following an article IV review of the country's policies.

credit rating agencies and reforming the structure of the multilateral development banks (MDBs) to mobilise funds for green and sustainable growth across developing nations. “The way forward involves a new toolkit of policies and a reform of the structure of the MDBs to help them engage in capital mobilisation, better project implementation, joint financing, risk sharing and making sustainable infrastructure an asset class,” the Aayog said in its report on a Green and Sustainable Growth Agenda. The report, developed by NITI Aayog in collaboration with the International Development Research Centre (IDRC), Ottawa, and the Global Development Network (GDN), New Delhi, has been compiled following a G20 international conference on the theme in July this year.

Madonna faced a serious health scare in June, being hospitalized with a bacterial infection that led to her being induced into a coma for 48 hours. Bacterial infections can affect various body parts, such as the skin, blood, brain, and lungs. While they may cause mild symptoms, severe cases can lead to complications like sepsis, a life-threatening condition. Madonna reportedly needed the drug Narcan to combat deadly septic shock before receiving medical care.

new images of Uranus. The photographs, taken by NASA’s high-powered James Webb Space Telescope, reveal a stunning look of glowing rings and one rarely-seen feature of Uranus. The icy planet was captured along with its multiple inner and outer rings, nine of its 27 known moons, and a seasonal polar cap. The space telescope was also able to capture a rare glimpse of the 'elusive' Zeta ring, an extremely faint and diffuse ring closest to the planet.

Investing.com — U.S. stocks traded marginally higher Tuesday, struggling to continue the recent rally as Federal Reserve policymakers attempted to rein in investors’ hopes for potential future interest rate cuts.

As 2023 draws to a close, investors are shifting their focus to the upcoming fiscal year.

iPhone 16 series, set to launch in less than a year, is making headlines with leaks revealing a potential game-changer – the introduction of a dedicated Capture Button for video recording. Building on the iPhone 15 Pro's Action Button, Apple is gearing up to streamline video recording with a dedicated button, as per Bloomberg's Mark Gurman.

Large language models, similar to the one at the heart of ChatGPT, frequently fail to answer questions derived from Securities and Exchange Commission filings, researchers from a startup called Patronus AI found.

Switzerland's financial regulator on Tuesday called for greater legal powers and vowed to adapts its approach in the wake of the Credit Suisse collapse.

Inflation has given millions of people new access to certain investments earmarked for the wealthy — and consumer advocates argue that's not a good thing.

The Nova Scotia Securities Commission, along with Halifax Regional Police and the RCMP, have issued a warning to be vigilant when investing in cryptocurrency “as residents continue to lose substantial amounts of money to crypto-related scams.”

Portland resident Damian Bunting provides insight on the citys crisis on The Bottom Line.

IDFC First Bank's shares rose over 3 percent, reaching a day's high of ₹92.33 per share on December 19, following the Reserve Bank of India's (RBI) approval of the merger between IDFC and IDFC Financial Holding Company with the bank. Over the last month, the stock of this private sector lender has shown a growth of over 6 percent, slightly trailing the 8 percent rise in the benchmark Sensex. Previously, IDFC First Bank's shares had achieved a 52-week high of ₹100.74 per share on September 5, 2023.

Heritage Foundation senior fellow Brent Sadler reacts to BP pausing Red Sea oil shipments after Houthi attacks on 'Varney & Co.'

Mint explains what the new virus is, its symptoms and efficacy of the vaccine: The new variant, experts have warned, appears to be more immune evasive and has been identified by WHO scientists as a ‘variant of interest’. JN.1 was first detected in the US in September 2023. By the end of October, it made up less than 0.1% of SARS-CoV-2 viruses, as per US Centers for Disease Control and Prevention (CDC).