What is it? The amount that ride-hailing firm Ola will infuse in food delivery startup Foodpanda, which it has acquired from its German parent Delivery Hero AG in an all-stock deal.
Why is it important? With this, Ola returns to the food delivery market, a business which it forayed into in 2014 under Ola Cafe but shut down shortly. Ola’s re-entry in this space, which is dominated by Swiggy and Zomato, is being seen as direct competition to UberEATS, which is run by its rival Uber and is currently present in six cities. The acquisition will give Ola access to Foodpanda’s delivery network, which is spread across 100 cities and has 15,000 restaurants on board.
Tell me more: Ola claims its investment of $200 million in Foodpanda will be the largest of its kind in the country’s online food-ordering and delivery sector.
What is it? The length of roads for which the National Highway Authority of India (NHAI) aims to award contracts in 2017-18.
Why is it important? So far, it has managed to award contracts for about a tenth of the target set for the current fiscal. It had missed its target in the previous year too when it built 8,200km against its 15,000km target, averaging 22km a day. However, this is higher than the average of 6-9km per day achieved under the previous United Progressive Alliance (UPA) government between 2009 and 2014. According to India Ratings and Research, the pace of awarding road contracts fell by 20% in the first nine months of 2016-17 due to weak liquidity conditions in the sector.
Tell me more: The NHAI has invited bids for projects of 4,900 km till November and is pushing to bid out projects for 3,500km by the end of the year.
What is it? The monthly financial assistance the Indian government will provide to TB (tuberculosis) patients through direct benefit transfer.
Why is it important? This could help establish a support mechanism for TB patients in India, which has the highest burden of the disease in the world, according to World Health Organization (WHO). It is estimated that 2.8 million patients were suffering from TB last year, and about 423,000 are estimated to have died. According to a study, the mean TB treatment cost in private hospitals is Rs4.8 lakh, but it can range from Rs1.3 lakh to Rs25 lakh over two years.
Tell me more: TB patients enrolled under the government’s Revised National Tuberculosis Control Program have to produce their Aadhaar numbers and bank account details to avail this financial assistance.
What is it? The number of Formula One team titles that Ferrari has won, more than any other team in F1 history.
Why is it important? Ferrari chairman Sergio Marchionne has warned that Ferrari could lead others teams into an alternative championship over the prospective engine rules for 2021, which aim to simplify engine technology and introduce standard parts. The contract of Ferrari with F1, like most teams, expires in 2020. However, there have been similar threats in the past from Ferrari before Marchionne’s time, as well as from other teams, but they have not amounted to anything.
Tell me more: Ferrari is one of the three manufacturer teams in the 10-team F1, the others being Mercedes and Renault. Besides 16 team titles, it has also won 15 driver titles, more than any other team. But it hasn’t won the driver’s title since 2007 and the team title since 2008.
What is it? The amount that Dr Reddy’s will pay the US pharma regulator to settle a 6-year-old case related to the blister packaging of five prescription drugs.
Why is it important? In 2016-17, Dr Reddy’s registered a 16% drop in revenues from the sale of generic drugs in North America, partly because of issues raised by the regulator on its manufacturing practices. In this particular case, it was accused of selling prescription drugs with packaging that had not been tested for child safety. This settlement means one less issue with the US regulator for the company.
Tell me more: While settling the case without admission of guilt, Dr Reddy’s said it disagreed with the US government’s allegations. On Tuesday, the Dr Reddy’s stock closed 0.2% up on the Bombay Stock Exchange.