Mittal Life Style Limited (MITTAL.NS)
- Barrons.com
4 Stocks to Play India’s Election
Indian Prime Minister Narendra Modi is likely to win reelection but a pullback in stocks now is an opportunity for investors.
- Associated Press Finance
Facing pressure from rights groups, World Bank suspends funding for Tanzania tourism project
The World Bank has suspended funding for a tourism project in Tanzania that caused the suffering of tens of thousands of villagers, according to a U.S.-based rights group that has long urged the global lender to take such action. The World Bank's decision to suspend the $150 million project, which aims to improve the management of natural resources and tourism assets in a remote part of southern Tanzanian, was “long overdue,” the Oakland Institute said in a statement Tuesday, charging that the bank's "failure to take immediate action resulted in serious harms for the local communities.” The suspension of World Bank financing took effect April 18.
- Reuters
India's Biocon developing its own version of Wegovy, clinical trial likely next year
Indian drugmaker Biocon , looking to grab a piece of the exploding weight-loss drug market as early as possible, is developing its own version of Novo Nordisk's wildly popular Wegovy and is prepared to conduct a clinical trial next year if needed, the CEO told Reuters. Wall Street has forecast the market for this new generation of obesity treatments reaching at least $100 billion by the end of the decade, and Biocon is taking steps to be a part of that windfall. "We're going to develop semaglutide for India even if it requires a clinical trial," Chief Executive Officer Siddharth Mittal said in an interview of the active ingredient in Wegovy and Ozempic.
