Asian markets trade higher

Asian markets were trading higher on Monday morning led by broad gains on Wall Street last week, but lower commodity prices continued to weigh. Japanese markets were closed on account of a holiday. Hong Kong’s Hang Seng declined 0.2% and China’s Shanghai Composite was up 0.2%.

US markets end on a firm note

On Friday, the US markets closed with gains led by a rally in healthcare, consumer and technology stocks. The S&P 500 ended its strongest week in almost a year, up 0.4%. The Dow Jones Industrial Average and Nasdaq Composite gained 0.5% and 0.6%, respectively, read more.

The winter session of Parliament may remain stormy

In India, the winter session of Parliament, which begins on 26 November, is expected to be stormy as important regional parties such as the Biju Janata Dal and the All India Anna Dravida Munnetra Kazagham, which have backed the ruling Bharatiya Janata Party so far, may not do so anymore. This may derail the government’s move to pass crucial bills.

Vijay Mallya willing to settle dues with state-run banks

There might be some relief for public sector banks as Vijay Mallya, chairman of UB group, wants to settle his dues with banks and plans to initiate formal negotiations, reports Business Standard. Mallya’s willingness comes after the Central Bureau of Investigation stepped up efforts to investigate a 950-crore loan given by IDBI Bank to Kingfisher Airlines.

Strides Shasun gets USFDA nod to sell copycats of GSKs

Drug manufacturer Strides Shasun Ltd has got an approval from the US regulator to manufacture and sell the copycat versions of GlaxoSmithKline Plc’s blockbuster drug Avodart, known chemically as dutasteride, in the US.

CX Partners to sell 20% stake in Sutures India

India-focused private equity firm CX Partners is in talks with global PE firms to sell its 20% stake worth around 400 crore in surgical equipment maker Sutures India Pvt. Ltd. Malaysian sovereign wealth fund Khazanah Nasional Bhd, Singapore’s sovereign wealth fund GIC, Temasek Holdings Pte and Baring Private Equity Asia are in talks with CX Partners to acquire the stake, read more.

Reliance Jio plans digital content strategy

Reliance Industries Ltd telecom arm Reliance Jio Infocomm plans to position itself as a digital content company to compete with other telecom companies. Content streaming packages will be the key element of Jio’s strategy. It will allow subscribers to watch movies and cricket matches without having to pay for the data separately, reports Economic Times.

Historic merger deal between Pfizer and Allergan

Lastly, Pfizer and Allergan have agreed on a historic merger deal worth more than $150 billion that would create the world’s biggest drug-maker and move one of the top companies in the US abroad, helping them take advantage of lower corporate tax elsewhere, reports Wall Street Journal.

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