India has dropped its demand that telecom equipment suppliers hand over proprietary source code, in a relief for local telcos and multinationals such as Ericsson, Nokia and Cisco, but poses a setback for local gear-makers. After the latest change, manufacturers need to provide just a summary of internal security test results and confirm following the … Read more
Chinese quantitative hedge funds are stepping up efforts to hire science and engineering students in the US affected by President Donald Trump’s university funding cuts and tighter visa policies. Shanghai-based Mingshi Investment Management launched a special program last month to offer full-time jobs to students unable to finish their PhDs due to the recent US … Read more
“We were always resilient in how we approached innovation. I think that’s what finally rewarded us,” Saldanha, chief executive officer and managing director of Glenmark Pharmaceuticals Ltd, told Mint in an exclusive interview. He was referring to one of the largest deals for an Indian biopharma firm after Glenmark’s US-based unit Ichnos Glenmark Innovation (IGI) … Read more
Sun Pharma on Monday announced it has settled a patent row with American biopharma company Incyte Corporation over its hair-loss drug, paving the way for its launch in the US. The Mumbai-based drugmaker, embroiled in the lawsuit since last year, launched the specialty drug in the world’s largest pharmaceutical market on Monday. Leqselvi (oral deuruxolitinib) … Read more
Tesla Inc. plans to poll shareholders on whether to invest in xAI, Elon Musk said after the Wall Street Journal reported SpaceX was prepared to funnel $2 billion into the Grok chatbot developer. The billionaire entrepreneur, responding to a post on X, said any decision to back the startup ultimately wasn’t his to make. Musk … Read more
New Delhi, Jul 14 (PTI) It was human error that led to the fuel switches being cut off before Air India’s Boeing 787-8 plane crashed in Ahmedabad last month, and there also should have been more transparency in the AAIB’s preliminary report on the accident, aviation expert Captain Mohan Ranganathan said on Monday. His comments … Read more
A couple of days after India’s Aircraft Accident Investigation Bureau released its preliminary report on last month’s Air India flight crash, the airline’s chief executive told employees to avoid drawing premature conclusions as the investigation was far from over. In an internal note accessed by Mint, CEO Campbell Wilson highlighted that AAIB’s report had not … Read more
(Bloomberg) — Indian pension managers have asked the industry regulator to ease rules that mandate the tenor of company bonds they can buy, according to people familiar with the matter. The retirement funds recently asked the Pension Fund Regulatory and Development Authority to relax a cap on purchases of corporate bonds that mature in less … Read more
Udaan and Pocket FM count Tencent among their investors, while Vedantu’s Chinese backers include Legend Capital and the TAL Education Group. There has been a recent spike in discussions around Chinese investors looking to pull out, several Indian investorsMintspoke with confirmed separately. “We can expect more block deals within listed startup entities as well, as … Read more
(Bloomberg) — The Air India jetliner that crashed on June 12 was doomed almost immediately upon taking off, after both engines lost fuel supply and the pilots ran out of time to regain control and avert catastrophe. A preliminary 15-page report filed on July 11 provided the first detailed account of the fateful 32 seconds … Read more
