• India's manufacturing growth slowed slightly in December, but the
pace remained strong amid robust sales, data from IHS Markit. The
headline Nikkei manufacturing purchasing managers' index, or PMI,
fell to 53.2 in December from 54.0 in November. Any reading above 50
indicates an expansion in the sector.
• Sun Pharma announced has completed acquisition of Japan-based Pola
Pharma to strengthen its presence in dermatology segment across the
globe. Pola Pharma’s portfolio mainly comprises dermatology
products. It has two manufacturing facilities in Saitama with
capabilities to manufacture topical products and injectables.
• Alembic Pharmaceutical received approval from the US health
regulator for Pramipexole Dihydrochloride extended-release tablets
used for the treatment of Parkinson’s disease. It has an estimated
market size of $38.6 million.
• Capacite Infraprojects has bagged orders worth Rs 97.69 crore for
RCC, civil, high side MEP works for sub-structure and superstructure of
proposed research building of the Institute of Chemical Technology at
• BHEL has bagged an order worth Rs 3,500 crore for setting up a 660 MW
supercritical Sagardigh thermal power plant in West Bengal by West
Bengal Power Development Corporation (WBPDCL) at Manigram village
in Murshidabad district of West Bengal.
• L&T announced its construction arm has won orders worth Rs 1,060
crore in the domestic market. The smart world and communication
business has secured a major order from the Andhra Pradesh State
FiberNet Limited (APSFL) for Bharatnet Phase-II works to establish an
IP/MPLS Infrastructure covering the 13 districts of Andhra Pradesh.
• Lemon Tree Hotels will soon be introducing its co-living prototype in
the country as early as March 2019. Hamstede Living, its joint venture
with global private equity major Warburg Pincus, will also launch a coliving brand that will tap into the sharing/ renting trend that's fast catching up with the millennial population in India.
• Tata Consultancy Services announced that Emirates NBD, the Middle
East's leading financial services group, has chosen TCS BaNCS for
Payments as its core processing platform to standardize and
streamline payments operations across multiple geographies,
including lndia, Egypt, Saudi Arabia, Singapore, UK and their home
market, the United Arab Emirates.
• U.S. Jobless claims rebounded in the week ended December 29th, The
Labor Department said initial jobless claims rose to 231,000, an
increase of 10,000 from the previous week's upwardly revised level of
221,000. Economists had expected jobless claims to climb to 220,000.
• US pending home sales index fell by 0.7 percent to 101.4 in November
after plunging by 2.6 percent to 102.1 in October. The continued
decline in pending home sales matched economist estimates.
• Eurozone manufacturing expanded at the weakest pace since early 2016
in December as new orders fell for a third month and business confidence
eroded to a six-year low, results of the survey by IHS Markit showed. The
final Eurozone Manufacturing Purchasing Managers' Index, or PMI, was
51.4, unchanged from the flash, but lower than November's 51.8.
• U.K. construction sector growth was the weakest in three months in
December amid a slower rise in commercial work, survey data from IHS
Markit. The CIPS Purchasing Managers' Index, or PMI, fell to 52.8 from 53.4 in
November. The latest reading was in line with economists' expectations.
• China's manufacturing activity fell in December, due to a decline in
new orders, for the first time since May 2017, survey data from IHS
Markit showed. The headline seasonally adjusted Caixin Factory
Purchasing Managers' Index, or PMI, fell to 49.7 from 50.2 in November.
• Hong Kong retail sales growth slowed far more-than-expected in November,
figures from the Census and Statistics Department showed. The retail sales
volume grew 1.2 percent year-on-year, following a 5.3 percent increase in
October. Economists had expected sales growth of 4.2 percent.