Drug maker Lupin on Wednesday said it has received tentative approval from the US health regulator to market Ivacaftor tablets, used to treat cystic fibrosis, in America.

The company has received tentative approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Ivacaftor tablets, 150 mg strength, Lupin said in a statement.

Days after ExpressVPN announced that it is shutting down its operations in India over the new cybersecurity-related rules, another popular virtual private network (VPN) service provider Surfshark followed suit.

Surfshark said that its servers will be shut down in India before June 27, when CERT-In's new rules will come into effect.

Blackstone-backed IT services major Mphasis announced the setting up of a delivery centre in Downtown Calgary, Alberta. The centre will create 1,000 tech jobs in Alberta over two years.

Canada is fast becoming one of the world’s leaders in science, research, and technological innovation. According to Calgary Economic Development, Alberta’s spending on digital transformation is set to surpass C$20 billion between 2021-2024, with Calgary companies accounting for C$7.5 billion.

Shares of rate sensitive sectors such as automobiles, realty and financials including banks, non banking finance companies (NBFCs) and housing finance companies had gained up to 3 per cent on the National Stock Exchange (NSE), after the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Wednesday raised the repo rate by 50 basis points to 4.9 per cent (bps), which was more or less on expected lines.

Gold on Wednesday opened Rs 10 down from previous day's closing rate, with 10 gram of 24-carat gold trading at Rs 51,920. Ten grams of 22-carat gold is trading at Rs 47,590.

Bullion is used as a hedge against inflation, but higher interest rates increase the opportunity cost of holding the non-yielding asset.

The real estate sector, which is highly dependent on bank financing for both builders and customers, is worried that rising rates will impact post-pandemic recovery and slow down sales.

Anuj Puri, chairman of real estate advisory firm Anarock, said the hike was anticipated with inflation edging higher in the aftermath of the Russia-Ukraine war and surging oil prices. "A hike was inevitable, but we are now entering the red zone. Any future hikes will reflect markedly on housing sales," he warned.

SpiceJet extended its Employee Stock Ownership Plan (ESOP) scheme to mid to senior level employees and critical resource staff in recognition of their contribution to the Company in the last three years of the COVID-19 crisis.

SpiceJet already has an ESOP scheme in place for its top management.

German sports brand Puma on Tuesday said it has launched mobile shopping app in India to further enhance digital offerings for consumers and provide quicker access to its products.

India is the first country to go live with the Puma app developed by the German sportswear giant, the company said in a statement.

Deepak Parekh, chairman of HDFC Ltd, India’s largest mortgage financier, on Tuesday said he expected the regulator’s view on HDFC’s proposed merger with HDFC Bank to be fair and judicious, asking the stakeholders to be patient.

In his note to shareholders in the annual report, the HDFC patriarch said after 45 glorious years of providing homes to millions of customers, the time was right for HDFC to find a new home.

Mitsubishi Electric Corporation on Tuesday said it will invest about Rs 220 crore (3.1 billion yen) in its Indian subsidiary to set up a new factory in Maharashtra.

The new factory will be set up near Pune in Maharashtra. Its subsidiary Mitsubishi Electric India will manufacture inverters and other factory automation (FA) control system products, said a statement from the Japanese manufacturer of electrical and electronic products.

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