Top headlines: PM Modi reaches New York, FinMin withdraws spending curbs

Business Standard brings you the top headlines on Saturday

PM Narendra Modi reaches New York to address 76th UNGA session

Prime Minister Narendra Modi on Saturday reached New York where he is scheduled to address the 76th session of the United Nations General Assembly, which had gone virtual last year due to the Covid-19 pandemic.

Modi flew to New York from Washington after holding his first bilateral meeting with US President Joe Biden in the Oval Office of the White House and attended his first in-person Quad summit on Friday. Read more

Booster dose: Bharat Biotech's nasal vaccine may be used with Covaxin

Bharat Biotech is working on a three-legged clinical trial for its intranasal vaccine BBV154, which is in phase two. The Hyderabad-based firm is testing the efficacy of a combination in three modes – two intranasal shots, first a Covaxin shot followed by the nasal vaccine, and Covaxin following a nasal shot.

The idea is to see which combination induces better and long-lasting immune response. Read more

Bumper shipments of Apple iPhone 13 for festive season

In anticipation of bumper sales during the forthcoming festive season, Apple is shipping in a record 600,000 iPhone 13 models. The new flagship phone that is going live in India today has attracted higher pre-orders than last year’s iPhone 12, prompting the company to increase its initial shipments by a good amount.

According to industry sources, steady pre-booking orders and the growth momentum that Apple is enjoying in the local market of late, were the reasons for the decision. Read more

Daikin to set up Rs 1,000-crore AC manufacturing plant in Andhra Pradesh

Japanese air conditioning major Daikin has become the first company to acquire land for a new factory under the production-linked incentive (PLI) scheme for white goods.

The India unit of the multinational, Daikin India, on Friday finished the purchase agreement for a 75-acre plant at Sri City (Andhra Pradesh) to set up a large air-conditioner (AC) manufacturing plant, which will come up in phases. Read more

Finance Ministry withdraws spending curbs on ministries, departments

The Centre has withdrawn spending curbs on ministries and departments and allowed them to spend in accordance with their Budget estimates for the remaining part of the fiscal year.

The move is likely to help spur the economy which is struggling to come back to the pre-covid levels. Read more