logo
AstraZeneca expands Bengaluru global hub with Rs 166-cr investment

AstraZeneca expands Bengaluru global hub with Rs 166-cr investment

Time of India4 hours ago

Biopharmaceutical firm
AstraZeneca
on Thursday said it has expanded its global hub in
Bengaluru
with an investment of Rs 166 crore, creating 400 jobs to boost
Research and Development
,
global services
and AI innovation.
The new facility will house nearly 1,300 employees, including 400 new jobs, supporting the company's capabilities in AI-powered innovation across Research and Development, global business services, IT, and digital health operations,
AstraZeneca
said in a statement.
"Our global hub in Bengaluru is a strategic investment that will play a vital role in advancing AstraZeneca's bold ambition to deliver 20 new medicines by 2030 -- by strengthening automated, scalable, data-driven, and patient-centric solutions," AstraZeneca Vice President, Global Business Services, Jackie Crockford said.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
The Best Method for a Flat Stomach After 50 (It's Genius!)
Lulutox
Undo
This is AstraZeneca's second major investment in
India
within a year after the expansion of its Global Innovation and Technology Centre (GITC) in Chennai.
"The combined workforce now at AstraZeneca India Pvt Ltd (AZIPL) will reach close to 4,000 employees, strengthening the company's capability to deliver
life-changing medicines
to patients worldwide," the company said.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Mid-day meal staff to get Rs 16 lakh insurance cover: Punjab education minister
Mid-day meal staff to get Rs 16 lakh insurance cover: Punjab education minister

Indian Express

time7 minutes ago

  • Indian Express

Mid-day meal staff to get Rs 16 lakh insurance cover: Punjab education minister

The Punjab school education department has partnered with Canara Bank to introduce a comprehensive insurance scheme to provide accidental cover of Rs 16 lakh and other benefits for the security of as many as 44,301 mid-day meal cook-cum-helpers working in state government schools across the state. The decision was announced by Harjot Singh Bains, Minister of School Education, Punjab. A Memorandum of Understanding (MoU) was signed between the Directorate of Elementary Education (Mid-Day Meal), and Canara Bank Chandigarh, in the presence of Bains, Thursday. This collaboration aims to provide vital financial protection and security to cook-cum-helpers. The education minister informed that the scheme offers comprehensive benefits, including term insurance with Rs 1 lakh coverage for death with natural causes, Rs 16 lakhs for death due to accident, and air accident cover of 18 lakh. Furthermore, the scheme provides hassle-free banking with no minimum balance requirement, an instant overdraft facility of up to Rs 10,000 or 50 per cent of the previous month's net salary credited into their bank accounts to ensure ease and convenience for account holders. 'This scheme will greatly enhance the well-being of these essential workers to enable them to focus on their critical role in supporting our education system,' said Bains while adding that this initiative will go a long way to promote financial inclusion and security for cook-cum-helpers in the state government schools.

India seizes 39 containers with Pakistani-origin goods routed via UAE
India seizes 39 containers with Pakistani-origin goods routed via UAE

Indian Express

time8 minutes ago

  • Indian Express

India seizes 39 containers with Pakistani-origin goods routed via UAE

The anti-smuggling arm of the Finance Ministry, the Directorate of Revenue Intelligence (DRI), has seized 39 containers carrying 1,115 metric tonnes of goods worth around Rs 9 crore, of Pakistani origin, that were being routed to India via the UAE in the backdrop of the Pahalgam terror attacks, the government said in a statement on Thursday. This came after the government had terminated direct trade with Pakistan, marked by the closure of the Integrated Check Post (ICP) at Attari on April 24, following the Pahalgam terror attack. Later, the government banned direct or indirect import or transit of goods originating in or exported from Pakistan on May 2. 'DRI launched an operation codenamed Operation Deep Manifest, targeting the illegal import of Pakistani-origin goods routed through third countries, primarily via Dubai, UAE. The operation has so far led to the seizure of 39 containers carrying 1,115 metric tonnes of goods valued at approximately Rs 9 crore. One of the partners of an importing firm was arrested on June 26,' the Ministry of Finance said in a statement. The Indian Express had reported on May 16 that the DRI had begun seizing in-transit goods originating from Pakistan after Customs authorities increased scrutiny in the wake of the Pahalgam terrorist attack. The Ministry of Commerce had last year raised the issue of Pakistani dates and dry fruits entering India through the UAE after the two countries signed a free trade agreement in 2022. Despite these stringent measures, some importers have attempted to bypass the policy by 'misdeclaring the origin of goods' and manipulating related shipping documents, the statement said. 'In two separate cases, these consignments were seized at Nhava Sheva Port. The consignments were falsely declared as being of UAE origin, masking their Pakistani provenance. However, investigations revealed that these goods actually originated from Pakistan and were merely transshipped via Dubai for import into India,' the Ministry said. The government stated that investigations conducted so far had uncovered cargo movement trails from Karachi Port, Pakistan, and transshipments at Jebel Ali Port, Dubai – en route to Indian ports. Furthermore, money transfers and financial linkages with Pakistani entities were traced, raising serious concerns about illicit financial flows. 'The entire modus operandi was orchestrated through a complex web of transactions involving Pakistani and UAE nationals, aimed at obscuring the true origin of the goods – namely Pakistan.' According to estimates by the Global Trade Research Initiative (GTRI), around $10 billion worth of Indian goods reach Pakistan via trans-shipment hub routes. Tensions between the two countries – particularly after the 2019 Pulwama attack – reduced bilateral trade from Rs 4,370.78 crore in 2018–19 to Rs 2,257.55 crore in 2022–23. However, trade rebounded to Rs 3,886.53 crore in 2023–24, the highest in the past five years. Notably, total cargo movement also declined from 49,102 consignments in 2018–19 to just 3,827 in 2022–23, the data shows. In dollar terms, annual India–Pakistan trade has shrunk to around $2 billion over the past five years – a small fraction of the $37 billion trade potential estimated by the World Bank. India's overall goods trade stands at $430 billion, while Pakistan's is approximately $100 billion. The curbing of trade marks a significant shift from the late 1990s, when India took the initiative to boost bilateral trade by extending Most Favoured Nation (MFN) status to Pakistan in 1996, leading to a surge in trading volumes. However, Pakistan never reciprocated by granting the same status to India. In 2019, India revoked Pakistan's MFN status following the Pulwama terrorist attack. Ravi Dutta Mishra is a Principal Correspondent with The Indian Express, covering policy issues related to trade, commerce, and banking. He has over five years of experience and has previously worked with Mint, CNBC-TV18, and other news outlets. ... Read More

Cement makers struggle despite robust growth of construction sector in GDP
Cement makers struggle despite robust growth of construction sector in GDP

Business Standard

time11 minutes ago

  • Business Standard

Cement makers struggle despite robust growth of construction sector in GDP

The cement industry combined net sales declined to Rs 2.1 trillion in FY25 from Rs 2.22 trillion in the previous year Mumbai Listen to This Article India's cement industry is struggling to grow volumes and revenue despite a robust expansion in the country's construction sector. Combined revenue of cement makers -- both listed and unlisted, with FY25 figures available -- declined 6.9 per cent year-over-year, marking a sharp reversal from 8.7 per cent growth in the previous year. It was the first annual revenue contraction in this industry in two decades. By contrast, the construction sector, based on gross domestic product (GDP) estimates, expanded 9.4 per cent in FY25 at current prices, slightly down from 10.6 per cent growth a year earlier, according to Reserve Bank

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store