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Domestic MFs plan international funds
Domestic mutual funds are again scouting investment opportunities abroad, mostly in emerging markets, as they plan to launch international funds, after more than a year. At least three fund houses-- SBI Mutual Fund, UTI Mutual Fund and Mirae Asset Mutual Fund— are planning to launch international funds soon.

Centre may relax jute packaging norms
With uncertainty prevailing over the supply of jute bags due to the indefinite strike of the jute mills in West Bengal, the Centre plans to allow Food Corporation of India (FCI) and the other government procurement agencies to place orders for polymer bags for packaging of food grains.

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Shoppers Stop gets shareholders nod for QIP issue
Garment and apparel retail chain Shoppers Stop today said it has obtained shareholders approval to issue 40 lakh shares by way of qualified institutional placement to garner resources for its expansion plans.
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Novartis starts testing its swine flu vaccine

Swiss drugmaker Novartis has begun injecting its swine flu vaccine into people in the company"s first human tests, a spokesman said today. - Novartis loses battle for cancer drug patent - Novartis raises stake in Indian arm to 76.42% - Novartis says produces first batch of H1N1 vaccine - Novartis hikes open offer to Rs 450 - Novartis sweetens bid for India arm to Rs 450 a share - Novartis may revise open offer Sensex ends up 35pts A person in Britain became the first to get the swine flu vaccine about 10 days ago, he said. Since swine flu was declared to be a pandemic, or global outbreak, by the World Health Organization in June, pharmaceuticals have been racing to get their vaccines ready. Last month, Australian drugmaker CSL became the first vaccine maker to start testing its vaccine in humans in Australia. "We initiated clinical trials about 10 days ago," Althoff said. Half of Novartis" vaccines being tested are grown in chicken eggs, the traditional way of making flu vaccines, while the other half use a new cell-based technology. The trial will test the vaccine"s safety and whether one or two shots are necessary. "Our assumption is that two doses will be required," Althoff said.


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