Current Affairs - Business

Alembic Pharmaceuticals received approval from the US Food and Drug Administration (USFDA) for its Albendazole Tablets USP (200 mg), a generic version of Impax Laboratories' Albenza. This approval allows Alembic Pharma to market its generic tablets, which are used to treat infections such as parenchymal neurocysticercosis and cystic hydatid disease caused by worm larvae. The approved ANDA (Abbreviated New Drug Application) is therapeutically equivalent to Impax Laboratories' Albenza tablets.

Paysharp, a rising fintech startup from Tamil Nadu, achieved a significant milestone by securing final authorization from the Reserve Bank of India (RBI) on August 30, 2024. This authorization strengthens its position in India's payment system ecosystem, marking the company's journey from preliminary authorization in December 2022 to becoming one of the 36 authorized payment aggregators in the country. This achievement highlights Tamil Nadu’s growing presence in India's fintech sector.

FlixBus, a Germany-based travel-tech company, is expanding its operations into South India, connecting major cities like Bengaluru, Hyderabad, and Chennai. With a focus on affordable, safe, and eco-friendly intercity travel solutions, FlixBus aims to connect 33 cities and 215 stops across India. This expansion marks a significant milestone for the company, which has partnered with local bus operators to offer services in Tamil Nadu, Karnataka, and Andhra Pradesh. Germany's FlixBus is poised to transform India's intercity travel landscape with its innovative approach.

ADNOC and ExxonMobil are collaborating to build a low-carbon hydrogen facility, which will be the largest in the world. The facility will utilize natural gas to produce low-carbon hydrogen, significantly reducing CO2 emissions. ADNOC holds a 35% equity stake in the project, with operations expected to commence in 2029. This partnership demonstrates a commitment to developing sustainable energy solutions and reducing carbon footprint.

Bisleri International Pvt. Ltd. has partnered with the Goa government to enhance plastic waste management in Mormugao, under its CSR initiative 'Bottles for Change'. This collaboration was formalized at the Green Goa Summit 2024, with the aim of improving waste collection, segregation, and recycling processes. The initiative involves key stakeholders like the Goa State Pollution Control Board and Mormugao Municipal Council and focuses on educating the public, training staff, and establishing efficient recovery facilities to promote sustainable waste management.