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Swiss firm gets COVID-19 test approval in India

THE Drug Controller General of India (DCGI), the drug regulator in the country, has given approval to Swiss company Roche Diagnostics India to conduct coronavirus tests.

Roche Diagnostics is the first private firm to get such permission after the government decided to allow accredited private labs to test for COVID-19.


The DCGI is now assessing giving license to another private diagnostic firm, bioMérieux, which has also sought approval to conduct tests for coronavirus, reports said.

Two Indian diagnostic companies-- Trivitron Healthcare and Mylab Discovery Solution-- have also sought approval from the DCGI for the coronavirus testing kits developed by them.

The Indian health ministry has issued guidelines for private sector laboratories intending to initiate COVID-19 testing while appealing them to conduct the tests free of cost.

Roche Diagnostics India is the country’s in-vitro diagnostics market leader. The Company started operations in January 2002 and provides diagnostic testing solutions and services for early detection, evaluation and monitoring of diseases.

The company provides a wide range of diagnostic products in the areas of diabetes, virology, immunology, blood screening, women’s health, microbiology and oncology for India’s customers.

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UK economy contracts unexpectedly in January

Chancellor Rachel Reeves speaks while holding roundtable discussion during a visit to RAF Waddington in eastern England. (Photo by YUI MOK/POOL/AFP via Getty Images)

UK economy contracts unexpectedly in January

BRITAIN's economy unexpectedly shrank in January, official data showed on Friday (14), piling more pressure on the Labour government ahead of its Spring Statement on the economy.

Gross domestic product contracted 0.1 per cent in the month after GDP rose 0.4 per cent in December, the Office for National Statistics (ONS) said in a statement.

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Pakistan seeks £3.4bn bank loan to tackle mounting energy sector debt

Pakistan’s government is the largest shareholder or owner of most power companies

Pakistan seeks £3.4bn bank loan to tackle mounting energy sector debt

Eastern Eye

PAKISTAN government is negotiating a 1.25 trillion Pakistani rupee (£3.4 billion) loan with commercial banks to reduce its bulging energy sector debt, the power minister and banking association said.

Plugging unresolved debt across the sector is a top priority under an ongoing $7bn (£5.4bn) International Monetary Fund (IMF) bailout, which has helped Pakistan dig its way out of an economic crisis.

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Deliveroo posts first annual profit after 12 years

A Deliveroo rider near Victoria station in London, England. (Photo by Dan Kitwood/Getty Images)

Deliveroo posts first annual profit after 12 years

FOOD DELIVERY app Deliveroo announced on Thursday (13) its first annual profit as orders and revenue rose, while the 12-year old company sees further growth despite exiting Hong Kong.

The milestone follows sizeable full-year losses owing to high investment costs since American Will Shu founded the company in 2013 and made Deliveroo's first delivery in London.

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Government to abolish payments regulator to boost growth

Keir Starmer (R) and Rachel Reeves host an investment roundtable discussion with members of the BlackRock executive board at 10 Downing Street on November 21, 2024 in London, England. (Photo by Frank Augstein - WPA Pool/Getty Images)

Government to abolish payments regulator to boost growth

PAYMENTS REGULATOR will be abolished and its remit absorbed by another financial regulator, the government said on Tuesday (11), as it aims to cut red tape in favour of growth.

The Payment Systems Regulator (PSR), which oversees systems including MasterCard and bank transfers, tackles problems such as fraud, excessive fees and lack of competition among banks and payment providers.

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