US major Novavax has said its Covid-19 vaccine (NVX-CoV2373) for adults — to be used in the US following an approval from the USFDA — would be manufactured by its Indian partner Serum Institute of India (SII). According to Reuters, Novavax’s Chief Medical Officer Filip Dubovsky said on Tuesday that all vaccines being distributed commercially across the world “are being made in a single facility by our partners (the Serum Institute in India — SII) that includes the vaccines which are being deployed around the world as well as the ones that will be initially deployed in the US”.

The Tamil Nadu Medical Services Corporation (TNMSC) has blacklisted pharma major Abbott Healthcare for five years for allegedly “hiding information” while participating in the tender process.

The company did not divulge that it was banned by central procurement agencies such as the Directorate General of Health Services (DGHS) and Employee State Insurance Corporation (ESIC) when it participated in the TN procurement agency’s tender process, TNMSC said.

German sports luxury car manufacturer Porsche on Wednesday said it has forayed into pre-owned car segment in India.

The Porsche Approved programme is now available across India with a comprehensive warranty on pre-owned cars for a minimum of 12 months, including access to the 24-hour roadside service after passing a rigorous 111-point inspection, the automaker said in a statement.

Ayana Renewable Power Pvt Ltd (Ayana) is scaling up its presence in Karnataka by setting up renewable energy projects totaling 2 gigawatts (GWs) with an investment of Rs 12,000 crore.

At present, it has an operational portfolio of 340 megawatt-alternate current (MWAC) in the state, Ayana said in a statement on Wednesday.

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.

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