Lupin in buy mode

Mumbai, Aug. 21: Lupin has acquired a minority stake in Generic Health, an Australian-owned and operated generic pharmaceutical firm. “The new investment arrangement with Lupin will contribute to our long-term market-share ambitions. Lupin’s equity investment will result in no change in the day-to-day operations of Generic Health,” Generic Health managing director Gavin Upiter said.

Corus plan

London, Aug. 21: Anglo-Dutch steel giant Corus is in talks with a new potential buyer for its aluminium smelters in the Netherlands and Germany, after a previous attempt for sale of these plants failed.

Export loss

New Delhi, Aug. 21: The finance ministry has ruled out extension of four per cent interest subsidy to exporters beyond September 30, on the ground that there is no case for such a facility after the rupee has started depreciating.

Oil hunt cash

New Delhi, Aug. 21: Over $1.49 billion minimum investment has been committed in oil and gas hunt in 45 blocks, bids for which were received in the latest auction under Nelp.

RBI order

Mumbai, Aug. 21: Concerned over banks operating from disputed premises, the RBI has asked state-owned banks to immediately undertake a review of all lease agreements to ensure that they function from places with valid lease.