Top headlines: AstraZeneca still aiming for vaccine; MGNREGS fund drying up

From India awaiting drug regulator's nod to restart the vaccine trial to drying up MGNREGA funds, here are top headlines this morning

AstraZeneca still aiming for Oxford Covid-19 vaccine by year-end, says CEO

AstraZeneca Plc Chief Executive Officer Pascal Soriot said the coronavirus vaccine the company is developing with the University of Oxford could still be ready before the end of the year after pausing its trials due to a possible serious neurological problem in one participant. Read More

Covid-19: Indian sites await DCGI nod to restart Oxford vaccine trial

Even as late-stage trials for the UK arm of the Oxford-AstraZeneca Covid-19 vaccine have been suspended after a study participant suffered a ‘potentially unexplained illness’, India will wait until the country’s drug regulator gives the go-ahead to restart the trials, observed investigators here. Read More

SC gives Centre two weeks for final proposal on loan moratorium interest

The Union government on Thursday set up a three-member expert committee, led by former Comptroller and Auditor General (CAG) Rajiv Mehrishi, to gauge the impact of waiving interest on loans for borrowers during the six-month moratorium period, which was in place to deal with the Covid-19 pandemic. Read More

Reliance to offer $20-bn stake in retail business to Amazon: Report

Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is offering to sell a roughly $20 billion stake in its retail business to Amazon.com Inc., according to a person with knowledge of the matter. Amazon has held discussions about investing in the conglomerate’s Reliance Retail Ventures Ltd. unit and has expressed interest in negotiating a potential transaction, the person said. Read More

ITC's appetite for staples grows as it moves away from tobacco

ITC projects itself as a diversified conglomerate with a portfolio of cigarettes, hotels, agri-commodities, paperboards and specialty paper, and fast moving consumer goods. But the Street has rarely been convinced. With cigarettes accounting for 84 per cent of profit before interest and tax, ITC remains a tobacco play for the markets, and this is becoming a problem in two ways. Read More

ASCI will continue to work with newly formed govt regulator: Subhash Kamath

Putting to rest concerns on its role getting clipped, the new chairman of the Advertising Standards Council India (ASCI), Subhash Kamath, has pointed out that the self-regulatory body will continue to work with the newly formed government regulator, Central Consumer Protection Authority (CCPA), because both want to protect consumer interests and ensure responsible advertising. Read More

Suzuki Motor ups stake in Maruti to 56.37%, buys 284,322 equity shares

Japanese auto major Suzuki Motor Corporation (SMC), has increased its stake in Indian subsidiary Maruti Suzuki to 56.37% by purchasing shares from the market. Prior to the transaction, Suzuki held a 56.28 per cent stake in Maruti Suzuki. Read More

MGNREGS funds fast drying up as demand surges amid Covid-19 pandemic

Funds allocated for the Mahatma Gandhi National Rural Employment Generation Scheme (MGNREGS) are fast drying up even as the project continues to attract a sizeable chunk of the rural workforce. Almost 63 per cent of the increased allocation of around Rs 1.01 trillion has been spent in the first five months of 2020-21. Read More

ONGC, OIL earnings hinge on upside in crude prices as production stagnates

Concerns for oil and gas upstream producers in India, such as ONGC, have risen owing to the slide in crude oil prices to below the $40-mark on Wednesday, from above $45 on September 1. ONGC shares are trading about 10 per cent lower in September, while Oil India has also dipped. Read More