The business wrap: RBI keeps interest rate unchanged at 6.25%, and six other top stories
In other headlines: Pfizer was fined £84 million for drug price hike, and stock markets closed marginally lower after the central bank's announcement
A look at the headlines in this sector right now:
- Monetary Policy Committee keeps RBI’s key repo rate unchanged at 6.25%: Factors such as the impacts of the US elections worldwide, domestic financial concerns as well as the modest Q2 global growth were taken into account.
- Pfizer fined a record £84 million for hiking anti-epilepsy drug prices in 2012: The price of 100 mg packs of an anti-epilepsy drug was raised from £2.82 to £67.5 overnight for the National Health Services.
- Sensex drops by 155 points, Nifty ends at 8,100 after RBI keeps key rates unchanged: Stock brokers said the indices were also affected by the central bank lowering India’s GDP growth rate to 7.1% from 7.6%.
- Centre seeks parliamentary approval for additional spending worth Rs 60,000 crore: The government said the funds would be used on rural employment schemes and pension liabilities of retired civil servants.
- Enforcement Directorate files case against AirAsia to probe allegations made by Cyrus Mistry: The agency will investigate an alleged payment of over Rs 12 crore to a Singapore-based company without a ‘proper’ agreement for the transaction.
- United States Supreme Court rules in favour of Samsung in Apple’s design patent case: The court’s justices sent the case back to an appellate court after ruling that Samsung does not need to pay the $399-million fine.
- European Union approves Microsoft’s $26 billion acquisition of LinkedIn: The United States-based software giant agreed to concessions such as letting the professional networking website’s rivals access its Office add-on suite.
