Month: March 2019

Cipla gets 8 observations from USFDA for Kurkumbh plant

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Drug major Cipla on Sunday said it has received eight good manufacturing practices (GMP) observations from the US health regulator for its Kurkumbh facility in Maharashtra.

The company has also received 10 observations pertaining to a product-specific pre-approval (PAI) from the same plant, Cipla said in a BSE filing.

“The United States Food and Drug Administration (USFDA) conducted a product-specific pre-approval (PAI) and Good Manufacturing Practices (GMP) inspection at Kurkumbh plant from March 11, 2019 to March 20, 2019,” it added.

The inspection covered three units at the plant.

“These observations are both product specific and GMP observations related to the manufacturing and quality processes,” it added.

There are no data integrity observations, Cipla said. It, however, did not specify the details of the observations.

“The company is committed to addressing these observations and will submit its response to the agency within the stipulated time,” the drug major said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

TPG Growth invests Rs 100 crore in Indian beauty retailer Nykaa

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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India’s leading beauty retailer Nykaa has raised Rs 100 crore from US-based fund TPG Growth in fresh funding round.

According to the filings sourced by paper.vc, under the deal, TPG Growth would be allotted 2.83 lakh shares in exchange for its investment in Nykaa. The new round of funding has led to Nykaa’s valuation jumping to $724 million, filings accessed by Paper.vc showed.

Avendus was the financial advisor for the transaction.

Currently, the omnichannel retailer has over 1,000 brands and 100,000 products on website and app, offering global brands such as Aveda, Benefit, Huda Beauty, Make Up For Ever, Flower Beauty, MAC Cosmetics, Bobbi Brown, Estée Lauder and Clinique in India.

Nykaa has been growing its physical store presence in India since 2015 with a current footprint of 35 stores across 15 cities, having premium luxury brands like Tom Ford, Jo Malone London, Dior and Givenchy.

Catering to specific customer bases, it also launched Nykaa Man to build its men’s grooming business and Nykaa Pro, a portal for professional beauty consumers. The company is also expanding into the fashion business with the newly launched Nykaa Fashion website and app offering 150+ brands.

“This year has been a great year for us and we are thrilled to close the year by having TPG Growth join our shareholder family. We believe their expertise will help us continue to strengthen the Nykaa playbook. As we look for new ways to serve our customers through initiatives like physical retail, Nykaa Man and Nykaa Fashion, our growth momentum will continue to remain strong in the coming years,” stated Falguni Nayar, founder and CEO of Nykaa.

“With its omnichannel presence, exclusive brand partnerships, high consumer engagement and well-curated product lines, Nykaa has emerged as a disruptive force in the Indian beauty landscape in India. The company is well-positioned to capitalise on its leading position and we are excited to partner with Falguni and the team to accelerate the company’s already impressive growth trajectory,” said Akshay Tanna of TPG Growth.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Government extends deadline for linking PAN with Aadhaar to September 30

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The government on Sunday extended the deadline for linking PAN with biometric ID Aadhaar by 6 months to September 30, an official statement said.

This is the sixth time the government has extended the deadline for individuals to link their Permanent Account Number (PAN) to Aadhaar.

In June last year, the government had said that PAN has to be linked with the biometric ID by March 31.

“….now the cut-off date for intimating the Aadhaar number and linking PAN with Aadhaar is September 30, 2019, unless specifically exempted,” the Central Board of Direct Taxes (CBDT) said in a statement.

However, quoting of Aadhaar will be mandatory while filing income tax returns (ITRs) with effect from April 1, 2019.

The CBDT said there were reports that those PANs which are not linked with Aadhaar number by March 31 may be invalidated, following which the matter was considered by the government and the date extended till September 30.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

China says it will continue to suspend additional tariffs on US vehicles, auto parts

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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China’s state council said on Saturday that China will continue to suspend additional tariffs on US vehicles and auto parts after April 1, in a goodwill gesture to the US decision to delay tariff hikes on Chinese imports.

In December, China said it would temporarily suspend additional 25 percent tariffs on US-made vehicles and auto parts for three months, following a truce in a trade war between the world’s two largest economies.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Lok Sabha Elections 2019: Rahul Gandhi asks JDS and Congress to strive unitedly to defeat Modi

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Congress President Rahul Gandhi on Sunday asked leaders and workers of the Congress-JDS alliance in Karnataka to strive unitedly to defeat the Modi government in the Lok Sabha polls.

Gandhi’s comments come amid reports of deep resentment in several constituencies among local leaders and workers of the Congress and JDS, which are fighting the polls unitedly.

He asked the Congress workers and leaders to work for JDS candidates and made a similar appeal to JDS counterparts, emphasising that their main target was to “defeat Modi.”

Gandhi accused the Modi government of benefitting only the rich and his “industrialist friends” and not doing anything to help the farmers who were in distress.

He also raked up the “Yeddyurappa diary” issue, referring to the allegation that the former Chief Minister had paid Rs 1,800 crore as bribe to the party top brass.

“Whose money is Rs 1,800 crore?” Gandhi asked, as he mentioned about the alleged entries in the diary about payments having been made to senior BJP leaders.

“Where did this money come from?” he asked, adding it came from farmers.

Yeddyurappa has rubbished the allegations as “atrocious and malicious” while the Income Tax department has dismissed it as a “forgery document” and a “set of loose papers”.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Gazing at coffee reminders can arouse your brain

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Finding it hard to concentrate? Just looking at something that reminds us of coffee can cause our minds to become more alert and attentive, according to a new study.

“Coffee is one of the most popular beverages and a lot is known about its physical effects,” said Sam Maglio, Associate Professor at the University of Toronto in Canada.

However, much less is known about its psychological meaning — in other words, how even seeing reminders of it can influence how we think, Maglio added.

The study, published in the journal Consciousness and Cognition, looks at an effect called priming, through which exposure to even subtle cues can influence our thoughts and behaviour.

“People often encounter coffee-related cues, or think about coffee without actually ingesting it,” Maglio said.

The team used a mix of participants from Western and Eastern cultures “to see if there was an association between coffee and arousal such that if we simply exposed people to coffee-related cues, their physiological arousal would increase, as it would if they had actually drank coffee,” he noted.

They found that participants exposed to coffee-related cues perceived time as shorter and thought in more concrete, precise terms.

“People who experience physiological arousal — again, in this case as the result of priming and not drinking coffee itself — see the world in more specific, detailed terms,” Maglio said. “This has a number of implications for how people process information and make judgements and decisions.”

However, the study noted that the association between coffee and arousal is not as strong in less coffee-dominated cultures.

Maglio said the research may be of interest in better understanding a range of consumer-related behaviours and for marketers in considering retail store locations.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Former US Vice President Biden denies inappropriate conduct allegation

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Former US Vice President Joe Biden said on Sunday he believed he had never acted inappropriately following allegations by a female activist that he made her feel uncomfortable by kissing her at a campaign event in 2014.

“In my many years on the campaign trail and in public life, I have offered countless handshakes, hugs, expressions of affection, support and comfort. And not once – never – did I believe I acted inappropriately. If it is suggested I did so, I will listen respectfully. But it was never my intention,” Biden said.

Biden said he does not recall the 2014 incident.

The allegation was made in an online essay published on Friday by Lucy Flores, a party activist who was running to be Nevada’s lieutenant governor. Flores said Biden also touched her shoulders and smelled her hair when they appeared at an event together, making her feel uncomfortable.

“I may not recall these moments the same way, and I may be surprised at what I hear. But we have arrived at an important time when women feel they can and should relate their experiences, and men should pay attention. And I will,” Biden’s statement continued.

Biden served eight years as vice president under former President Barack Obama and 36 years in the US Senate. He has not yet said whether he will run for president in 2020, but has been expected to throw his hat into the ring soon.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

LS Polls 2019: Wayanad in national limelight after Rahul Gandhi decides to contest from the hill district

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Wayanad Lok Sabha constituency in north Kerala has been catapulted to the national limelight with Congress president Rahul Gandhi deciding to contest from the hilly district.

After week-long suspense, Congress formally announced that Gandhi would try his luck from Wayanad, besides Amethi in Uttar Pradesh, giving the much-needed boost to the Congress-led United Democratic Front (UDF) workers.

The late M I Shanavas (Cong-UDF) had sucessfully represented the constituency in 2014 and 2009 defeating LDF candidates.

He passed away in November last year.

The LDF candidate in Wayanad this time is P P Suneer of the CPI.

The BJP has given the seat to its partner BDJS (Bharat Dharma Jana Sena (BDJS) and has not formally announced its candidate here so far.

The predominantly agrarian constituency, Wayanad, where coffee, tea, cocoa, pepper, tea and Cardamom are the chief agricultural crops, is also a much sought after tourist destination with its stone age carvings of Edakkal caves, scenic locales, breathtaking waterfalls.

It is also a trekker’s delight, with some of its peaks towering 2,100 metres above sea level.

Wayanad constituency consists of Mananthavady, Sulthan Bathery, Kalpetta, Thiruvambady, Ernad, Nilambur and Wandoor segments and has a total voter population of 13,25,788, of whom 6,70,0002 are females.

Wayanad also has a large mix of Scheduled Caste and Scheduled Tribe community.

Perched on the western ghats, Wayanad shares its borders with Mysore and Chamarajanagar in Karnataka and Nilgiris in Tamil Nadu.

It was carved out from Kozhikode and Malappuram districts on November 1, 1980, as the 12th district of Kerala and has 886.92 sq km of area under forest.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Huawei builds mini Europe in China to house R&D arm

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Chinese technology giant Huawei, which is in the eye of a global security storm, has built a new campus in China that looks like a cluster of European cities.

The campus with an old European feel is connected through a futuristic tram service that takes thousands of Huawei employees to their destinations in the faux-Europe, dotted with 12 buildings, the Efe news reported.

The company has opted for the ostentatious campus in Dongguan (south) for research and development.

There are replicas of Italian towers, artificial lakes and palaces. The campus houses buildings and squares that look like the ones of medieval Europe, reflecting Huawei’s infinite global ambitions despite a tough year marked by suspicions on security flaws in its devices and the arrest of its CFO Meng Wanzhou in Canada.

The company announced on Friday its net profit in 2018 increased by 25.1 percent year on year to 9.3 billion yuan and invested 101.5 billion yuan for research and development.

The feel at the campus is surreal. Employees, visitors and clients riding the train get down at stops named like Paris, Verona, Freiburg and Granada.

The campus, spread over 1.4 million square meters, is situated on the banks of lake Songshan. It has been designed to create an idyllic work environment to motivate employees and where long-term plans of the company could be developed.

According to sources, these places are undergoing heavy investment in innovation in areas of virtual reality, in smart cities, with hyper-vigilance and facial recognition,- and the Internet of Things (IoT).

Joe Kelly, head of international communication, told a group of international journalists that all these new strategies and values of the company inspire self-criticism and cooperation among employees.

However, the journalists raised the issues the company is facing, including the security conditions of 5G mobile connectivity.

Guo Ping, Rotating Chairman of the company, said none of its products have technological back doors or nor does it have the capability to access a device without the knowledge of the user.

The clarification comes in the middle of allegations that Huawei was part of Beijing’s intelligence system that led the European Commission to urge countries to analyse and be alert of threats that the tech giant poses to the development of 5G data connectivity.

At the moment, Huawei devices are banned in the US, Australia and New Zealand. A possible ban in other countries would be a bad news for the company, for which Europe id the biggest market.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow