2. Drug seizure issue settled, EU agrees to amend laws India has resolved the dispute with the European Union over confiscation of Indian generic drugs by countries such as the Netherlands and France, ending uncertainty for Indian pharma firms which use Europe as a transit point for exports to Africa and Latin America. The EU has accepted the position and amended rules of india
3. National Insurance pips Oriental to become 3rd largest insurer State-run National Insurance has pipped Oriental Insurance to become the third largest non-life insurer in terms of premium collection. Oriental Insurance collected Rs 2,225 crore in the first five months of the current fiscal. Among private insurers, ICICI Lombard collected Rs 1,755 crore premium.
4. Japan government approves $61 billion economic stimulus Japan's Cabinet approved 5.05 trillion yen ($61 billion) in new economic stimulus , the latest in a string of measures to shore up the country's lethargic economy. The plan also called for funding to secure rare earths needed for Japan's advanced manufacturing. It comes just days after the central bank cut its key interest rate to virtually zero.
5. Honda unveils Fit hybrid, cheapest hybrid in Japan Honda Motor Co said on Friday it would sell the hybrid version of its popular Fit subcompact for 1.59 million yen ($19,310) in Japan, making it the cheapest gasoline-electric car on the domestic market. The company expects to sell about 5,600 units a month. Honda needs the Fit hybrid to succeed after its last gas-electric model.
