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Sigma Pharmaceuticals wins national champion crown

INDIAN origin family-owned Sigma Pharmaceuticals won the ‘national champion’ crown at this year’s National Family Business Awards in the ‘health and care services’ category on Sunday (28).

The company said: “As we become a second-generation family business and continue to thrive and grow, this rewards the contribution of our extended family of over 500 valued colleagues, which is a fantastic achievement for us.”


Sigma Pharmaceuticals is owned and run by Indian origin family. It is located in Watford, Hertfordshire.

Employing over 350 staff, it is one of the largest independent short line pharmaceutical wholesalers in the UK. The company provides key services to the pharmaceutical industry, serving over 2,500 pharmacies, doctors, hospitals and care homes.

Sigma won the coveted award – given annually since 2008 to family-owned businesses in recognition of their extraordinary contribution to the British and Irish economies – just weeks after the company’s founder and CEO, Bharat Shah, was appointed CBE in the Queen’s Birthday Honours.

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Budget halted economic growth, Bank of England warns

Bank of England Governor Andrew Bailey reacts during a press conference at the Bank of England in London on Aug 1, 2024.

(Photo by ALBERTO PEZZALI/POOL/AFP via Getty Images)

Budget halted economic growth, Bank of England warns

THE Bank of England has cautioned that the UK economy is stagnating, following measures introduced in chancellor Rachel Reeves’s budget. Businesses are reportedly responding to tax hikes and a higher minimum wage by cutting jobs and raising prices.

Andrew Bailey, the Bank's governor, revealed that growth forecasts for the final quarter of 2024 have been downgraded to "zero." He also stressed a cautious approach to reducing interest rates, which remain at 4.75 per cent, citing economic uncertainty. “We need to ensure we meet the 2 per cent inflation target sustainably,” Bailey said.

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‘UK-India trade sees growth as
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BUSINESS activity between the UK and India flourished in 2024, with payments received by clients in Britain from India rising by 121 per cent, according to the latest data from HSBC UK.

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BANGLADESH's interim government has accused Adani Power, an energy company controlled by Indian billionaire Gautam Adani, of breaching a multi-billion-pound agreement by withholding tax benefits granted to a power plant central to the deal.

The agreement, signed in 2017, enabled Adani Power to supply electricity to Bangladesh from its coal-fired power plant in eastern India.

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Bank of England maintains interest rate amid inflation rise

THE BANK OF ENGLAND (BoE) on Thursday kept its key interest rate unchanged at 4.75 per cent, opting not to follow the US Federal Reserve's recent rate cut, as inflation in the UK sees an uptick.

"We've held interest rates today following the two cuts since the summer," BoE Governor Andrew Bailey said in a statement.

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Starmer woos Indian business leaders in Downing Street summit​

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PRIME MINISTER Keir Starmer hosted a delegation of 13 Indian companies at 10 Downing Street in London on what the British government described as a “curated visit” to enhance the bilateral partnership and boost investment flows.

The visit on Wednesday (18) follows Starmer’s meeting with Indian prime minister Narendra Modi on the sidelines of the G20 Summit last month, when the leaders committed to take forward an “ambitious” UK-India Comprehensive Strategic Partnership with collaboration opportunities on economic growth, security and defence, technology, climate, health, and education.

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