Name: Abbott test that can detect coronavirus in 5 min is approved
Uploaded: 2020-03-28T12:09:59.fff+05:30
Duration: T00M23S
Channel: editorji
Description: Abbott on Friday announced it has received approval for a test that is capable of testing positive coronavirus cases in as little as five minutes, and it will begin making those tests available to health care providers next week. The test can detect negative results in 13 minutes. The company said it plans to ramp up manufacturing so it can deliver 50,000 tests per day.

Abbott&nbsp;on Friday announced&nbsp;it has received approval for a test that is capable of testing positive coronavirus&nbsp;cases in as little as five minutes, and it will begin making those tests available to health care providers next week.&nbsp;The test can detect negative results in 13 minutes. The company said it plans to ramp up manufacturing so it can deliver 50,000 tests per day.

Abbott on Friday announced it has received approval for a test that is capable of testing positive coronavirus cases in as little as five minutes, and it will begin making those tests available to health care providers next week. The test can detect negative results in 13 minutes. The company said it plans to ramp up manufacturing so it can deliver 50,000 tests per day.

Oyo&nbsp;has announced to grant employee stock ownership plans worth around ₹130 crore to all its furloughed employees impacted by the Coronavirus pandemic. The hospitality firm is putting&nbsp;efforts to minimize the disruption being experienced by its employees, said the announcement. The company moreover, did not share any of the details regarding the number of impacted employees.
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In a bid to boost electronic manufacturing in India, Union Minister Ravi Shankar Prasad&nbsp;on Tuesday announced three schemes. Those schemes are&nbsp;'Production Linked Incentive Scheme', 'Component Manufacturing Scheme' and 'Cluster Scheme'. Addressing the media, the minister said that&nbsp;electronic manufacturing in India has risen from ₹1.9 lakh crore in 2014 to ₹4.58 lakh crore in 2018-19.&nbsp;

Automobile major Maruti Suzuki on Monday posted total sales of 18,539 units in May 2020. The company resumed its manufacturing operations post from May 12 at its Manesar facility and from May 18 at its Gurugram facility. However, it is 86% less than 1.35 lakh units sold in May last year.

Commerce Minister Piyush Goyal on Sunday said that the Union government has decided to disinvest in certain pharmaceutical public sector units. According to an official statement, Goyal also said that India should become a self-reliant country in the supply of active pharmaceutical ingredients (APIs) as early as possible. He assured the industry of full government support in its expansion, diversification and strengthening.
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German airline, Lufthansa, on Saturday said it had accepted a rescue plan offered by the country's government under which it will get&nbsp;$9.8 billion. The carrier&nbsp;has suffered economically due to restrictions imposed to contain the Covid-19 pandemic. As per the deal, the government will take a 20% stake in Lufthansa to become the leading stakeholder.

Microsoft is laying off at least 50 news production workers and replacing them with AI-based algorithms to perform their editorial duties, the Seattle Times reported. These news production contractors work with Microsoft News, the company&rsquo;s news content arm that operates MSN.com and other properties. The work includes identifying trending news stories, rewrite headlines or adding better photographs or slide shows. Besides the production work, the contract employees also planned content, maintained the editorial calendars of partner news websites and assigned content to them.

IT services major Wipro on Friday said it has appointed Capgemini Group veteran Thierry Delaporte as its Chief Executive Officer and Managing Director, effective July 6, 2020. It is being seen as a historic move by industry observers, as he perhaps will be the first non-Indian to be at the helm of any large Indian IT services company. In January this year, the company's MD &amp; CEO&nbsp;Abidali Neemuchwala had decided to step down. Analysts believe&nbsp;Delaporte's appointment will help Wipro&nbsp;with new ideas and practices.&nbsp;Wipro's shares surged by 6% on the NSE&nbsp;on news of the appointment.
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The&nbsp;domestic automobile industry is headed for another year of double-digit sales decline this fiscal, given the extended lockdown to contain the Covid-19 pandemic, Crisil Research said on Friday. Overall sales volume would plunge to multi-year lows, with sales of both passenger and commercial vehicles reaching FY2010 levels, it said. For the full fiscal, sales of passenger vehicles are expected to decline 24-26% as compared with a 21-23% contraction for two-wheelers, according to Crisil Research.

Abu Dhabi state fund Mubadala Investment Company is in talks to invest about $1 billion in Reliance Industries' digital unit Jio platforms, Reuters reported on Thursday.&nbsp;Reliance's telecoms venture Jio Infocomm&nbsp;has secured a massive $10 billion from investors, including Facebook,&nbsp;within a month.
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Google could acquire a 5% stake in Vodafone&nbsp;Idea, the Financial Times has reported.&nbsp;According to the average price of the Vodafone Idea stock in the past two weeks, a 5% stake sale could fetch the company around $101 million. The telecom joint venture of Vodafone Group Plc and the Aditya Birla Group is also in talks with private equity firms for potential investments, as per some reports. Shares of Vodafone&nbsp;Idea locked into the upper circuit of 10% on NSE and BSE&nbsp;right after the session started on Friday.
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The government has extended the time for interested parties to submit their bids for BPCL&nbsp;by two months due to the Covid-19 pandemic. Bidders now have to submit their 'expression of interest' by July 31. The government had in March invited bids to sell its 53% stake in BPCL, the country's second-largest oil retailer, as part of the efforts to speed up the privatisation process.&nbsp;

Anant Ambani, the youngest son of Mukesh Ambani, has formally joined the Reliance Industries's digital venture Jio Platforms as an additional director. Anant Ambani has been appointed as an additional director on the Jio Platforms board, with effect from March 16, 2020. This is the first time that Anant Ambani has become a part of his family business.&nbsp;His siblings, twins Akash and Isha,&nbsp;joined the boards of Reliance Jio Infocomm and Reliance Retail Ventures earlier in 2014.

The government may impose anti-dumping duty on imports of a certain type of rubber used in various industries. The domestic industry has approached the commerce ministry to investigate the alleged dumping of the product from China, European Union, Japan and Russia. Dumping of the product from these countries is impacting the domestic industry.&nbsp;In international trade parlance, dumping happens when a country or a firm exports an item at a price lower than the price of that product in its domestic market.

In a bid to provide a boost to gold financiers, the Reserve Bank of India is considering increasing the Loan to Value (LTV) ratio from 75% to 85% and the apex bank may announce the decision in a few days. As per a Zee Business report, in case the LTV in the gold loan is increased, borrowers will be able to get up to 85% of the liquid value of their&nbsp;mortgaged yellow metal.&nbsp;

Microsoft is negotiating an investment of as much as $2 billion in Reliance Industries'&nbsp;Jio Platforms, as per some reports. Microsoft has been in discussions with several players in the digital payments services space. With Reliance, Microsoft is interested in buying more than a 2.5% stake in Jio Platforms. Jio&nbsp;has already attracted investments worth $10 billion in just a month from marquee investors.

Bharti Telecom&nbsp;has raised over ₹8,433 crore via sale of a 2.75% stake in Bharti Airtel in order&nbsp;to fully repay its debt.&nbsp;Bharti Airtel&rsquo;s credit profile will improve as it will benefit from Bharti Telecom becoming a zero-debt company, according to the statement.&nbsp;

Maruti Suzuki said it has joined hands with ICICI Bank to offer retail financing schemes to its customers. As part of the tie-up, ICICI Bank is offering flexible EMI scheme which enables customers to pay low EMI initially, in order to help them overcome the liquidity stress due to the Covid-19 pandemic. The EMI amount starts with a low ₹899 on a loan amount of ₹1 lakh for first three months. Thereafter the EMI amount is higher.

Nokia&nbsp;on Tuesday said it suspended operations at a telecoms gear manufacturing plant in Tamil Nadu&nbsp;last week, after some employees tested positive for Covid-19. Nokia did not disclose how many workers at the plant tested positive, but a Reuters report said they were at least 42. The factory had begun operations in a restricted manner over the past few weeks after the country eased the world's biggest lockdown to kick-start its economy.

Reliance Industries is working with banks on early preparations for an overseas listing of its digital business Jio, after the unit attracted more than $10 billion of investment in a month.&nbsp;In the past one month, five global players have picked up a 17% stake in Jio Platforms for a total consideration of ₹78,562 crore, valuing the company at ₹4.91 lakh crore&nbsp;or $73 billion. The offering could happen in the next two years and the company hasn't decided on a listing venue, as per some reports. An overseas listing could potentially give the digital business a higher valuation and allow existing investors to exit.

In the wake of an&nbsp;unprecedented crisis,&nbsp;TVS Motor has announced to cut employees' salaries for six months, the Mint reported on Tuesday.&nbsp;Starting May, salaries will be reduced to the extent of 5% for junior executives and 15-20% at the senior management level.&nbsp;TVS Motor&rsquo;s domestic sales in the three and two-wheeler categories crashed more than 60% in March.
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Abbott test that can detect coronavirus in 5 min is approved

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Abbott test that can detect coronavirus in 5 min is approved

Mar 28, 2020 12:09 IST

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