Ford set to lose $600 million following Brexit currency hit
The Dollar Business Bureau Britain’s June 2016 referendum is expected to drag down the US carmaker Ford’s 2017 earnings by as much as $600 million, a senior Ford executive told Reuters on Friday. During the first quarter after the referendum, which led to a considerable slump in the sterling, currency hedges had shielded Ford from revenue slump. But in the first quarter of 2017, the global car manufacturer seems to be facing the brunt of a weaker pound. "When Brexit happened we were fully hedged for the first quarter with the stronger pre-Brexit exchange rate. As we enter the rest of the year, especially the second half, we now face the full effects of the weaker sterling," Jim Farley, Ford’s Europe boss said ...
Need to create ecosystem to boost exports: Jaitley
Source:PTI Finance Minister said the “glaring challenge” is to step up shipments at a time when the world trade was getting compressed Concerned over slowing global demand and declining exports, Finance Minister Arun Jaitley on Friday underlined the need for creating an ecosystem to boost shipments to the markets overseas. He asked exporters to produce quality products at competitive prices to meet the challenge of slowing demand in international markets. “One important factor, which our global experience now teaches us, is that the world wants to buy good products, it wants to buy cheaper products and therefore you have to think ahead of the others, manufacture products which are cost and quality competitive. “This can actually enable you, even in ...
Indian pharma company gets nod to sell hepatitis B medicine in US
The Dollar Business Bureau United States drug regulator has granted its nod to India’s Aurobindo Pharma to manufacture and sell in the American market the generic drug meant for those infected with hepatitis B virus. Aurobindo Pharma Limited “has received the final approval from the US Food and Drug Administration (USFDA) to manufacture and market Entecavir Tablets, 0.5mg and 1mg,” the company said in a statement on Thursday. The Hyderabad-based firm had sought nod under the Abbreviated New Drug Application (ANDA) which is applicable for generic drugs that are similar to innovator’s medicine in terms of impact on patients. “The approved ANDA is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Baraclude® Tablets, 0.5mg and 1mg, of Bristol-Myers ...
