Future Retail has shut most of its Big Bazaar stores since February 25 (Friday) and its website is also down as it missed lease payments to Reliance Industries (RIL).

RIL will open most of the 200 Future Retail stores as Reliance stores in the next week and it is in the process of taking stock, re-branding, and transferring 30,000 Future Retail and Future Lifestyle employees on to the rolls of its manpower and staffing firm Reliance SMSL, according to a source. The first tranche of stores are set to be opened as early as in the next two days.

Biocon Biologics, a subsidiary of Biocon, announced on Monday that it will acquire Viatris’ biosimilars business in a $3.3 billion cash and stock deal.

Viatris will receive cash consideration of $2 billion on closing of the transaction and up to $335 million as additional payments expected to be paid in 2024. Additionally, upon closing of the transaction, BBL will issue $1 billion of compulsorily convertible preference shares (CCPS) to Viatris, equivalent to an equity stake of at least 12.9 per cent in the company, on a fully diluted basis.

Vedanta's aluminium business, which has not been impacted majorly by COVID-19, would focus on backward integration in the next fiscal and would bring into production two of its mines in Odisha to provide raw material security for its plants, a top official of the company said.

The CEO of Vedanta's aluminium business Rahul Sharma in an interview with PTI said that in the coming financial year, the company's "focus would be on backward integration.

The global coronavirus caseload has topped 432.8 million, while the deaths have surged to more than 5.93 million and vaccinations to over 10.46 billion, according to Johns Hopkins University.

In its latest update on Saturday morning, the University's Center for Systems Science and Engineering (CSSE) revealed that the current global caseload and the death toll stood at 432,816,460 and 5,936,924, respectively, while the total number of vaccine doses administered has increased to 10,461,731,731.

Ten gram of 24-carat gold is selling at Rs 51,110 on Saturday, down Rs 440 since the last trade as demand dipped for safe-haven bullion.

Ten gram of 22 carat gold is selling at Rs 46,850, down Rs 400 from Friday according to the Goodreturns website. One kg of silver is selling at Rs 65,000, down Rs 1,000 from the last trade.

Union Home Minister Amit Shah on Friday trained his guns on the Samajwadi Party and the Bahujan Samaj Party, accusing them of promoting "mafia raj" in Uttar Pradesh during their rule as he campaigned for BJP candidates in Pratapgarh.

Though he was addressing an election rally in Rampur Khas, from where veteran Congress leader Pramod Tiwari's daughter Aradhna Mishra is seeking a third consecutive win, Shah only made a passing reference to the Congress while talking about ending Article 370 from Jammu and Kashmir.

With 11,499 people testing positive for coronavirus infection in a day, India's total tally of COVID-19 cases rose to 4,29,05,844, while the active cases further declined to 1,21,881, according to the Union Health Ministry data updated on Saturday.

The death toll climbed to 5,13,481 with 255 daily fatalities, the data updated at 8 am stated.

In a rare move, the US has slapped sanctions on Russian President Vladimir Putin and his foreign minister Sergey Lavrov, holding them "directly responsible" for Moscow's "unprovoked and unlawful" invasion of Ukraine.

The latest US sanctions build on other sweeping actions that America and partners took earlier this week targeting the core infrastructure of the Russian financial system, including sanctions against Moscow's largest financial institutions, the US Department of the Treasury said in a statement.

The conflict between Russia and Ukraine is expected to hit badly the Indian economy and the trade to a significant extent, domestic traders' body CAIT said on Friday.

The Confederation of All India Traders (CAIT) said the impact will jeopardise efforts to recover the domestic trade from the COVID-19 pandemic.

The pharmaceutical sector in the country can grow to USD 130 billion by 2030, industry captains said on Friday.

He, along with other industry leaders, participated in a 'CEOs Conclave' as part of 'BioAsia 2022', the Telangana government's flagship annual life sciences convention that concluded on Friday.

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