Asia Covid19 

Glenmark launches COVID-19 drug after DCGI nod

Glenmark Pharmaceuticals on Saturday said it has launched antiviral drug Favipiravir, under the brand name FabiFlu, for the treatment of patients with mild to moderate COVID-19. The Mumbai-based drug firm had on Friday received manufacturing and marketing approval from the Drugs Controller General of India (DCGI). FabiFlu is the first oral Favipiravir-approved medication for the treatment of COVID-19, the company said in a statement. “This approval comes at a time when cases in India are spiralling like never before, putting a tremendous pressure on our healthcare system,” Glenmark Pharmaceuticals Chairman…

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Africa Financial Services 

MONEY, PEOPLE & POWER: The 10 bank CEOs who control 80% of Uganda’s banking sector – CEO East Africa

1. Anne Juuko Chief Executive, Stanbic Bank 2019 Asset Value: UGX6.6 trillion Market Share: 20.2 per cent Industry Rank: 1 Stanbic Bank has maintained the top spot in the banking sector ever since the acquisition of a majority stake (80per cent) in Uganda Commercial Bank (UCB) back in 2001. Getting to the top spot was the easy bit – despite the politics around the acquisition. Remaining at the top, ahead of the chasing pack is where all credit is due to the bank shareholders and management that have given the…

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Covid19 North America 

Genworth and Canada Guaranty Won’t Adopt CMHC’s New Mortgage Rules

Following the announcement of CMHC’s new mortgage rules last week, Canada’s other two mortgage insurers, Genworth Canada and Canada Guaranty, confirmed Monday they will not be following CMHC’s lead. “Genworth MI Canada Inc confirms that it has no plans to change its underwriting policy related to debt service ratio limits, minimum credit score and down payment requirements,” the company said in a release. Similarly, Canada Guaranty said it “confirms that no changes to underwriting policy are contemplated as a result of recent industry announcements.” To recap CMHC’s mortgage rule changes,…

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Africa Utilities 

Ford has launched a compact utility Figo in South Africa

Ford Motor Company of Southern Africa (FMCSA) says it is expanding its presence in the utility vehicle sector with the Figo Freestyle – a sub-B segment compact utility vehicle (CUV) based on the Figo hatchback. Doreen Mashinini, GM marketing at FMCSA, said that the new utility fulfils the growing demand from younger buyers for a vehicle that is more compact and affordable than the compact SUV offerings. Ford’s existing range of active lifestyle-oriented models includes its top-selling EcoSport, the Kuga and the Everest seven-seater SUV. “With bigger wheels, an increased…

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Startups 

Nigerian startup Launched To Help Brands Connect With Drivers In Traffic Jams

Nigerian start-up Wrapyt has actually introduced its cars and truck marketing solution that helps brands reach and engage with countless geographically-targeted audiences within cities. Launched in February, Wrapyt has partnered with around 1,000 high-mileage personal vehicle owners and e-hailing motorists who want to have their vehicles covered in adverts for a charge. Its online platform links brands with these chauffeurs, while its internal GPS innovation assists it track each motorist in a live project, produce a “geo-fence” around a particular project area, and generate data such as total miles covered…

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