DBT Bureau
Bengaluru, 17 May
Norges Bank, Norway’s central bank, has decided to exclude India’s Adani Ports and Special Economic Zone from its government pension fund over ethical concerns.
Other companies included in this list were United States-based L3Harris Technologies, and China’s Weichai Power.
Norges Bank manages one of the world’s largest sovereign wealth fund worth around $1.7 trillion. This decision may lead to the fund house selling the remaining stake in the Adani Ports and Special Economic Zone.
Adani Ports, part of billionaire Gautam Adani’s conglomerate, was excluded due to the sovereign fund’s concerns about its potential contribution to “serious violations of individuals’ rights in situations of war or conflict”.
“The company has been under observation since March 2022, but that observation now ends given the exclusion decision,” Norges Bank has said.
Serum Institute of India (SII) buys 20% stake in US-based IntegriMedical
Serum Institute of India (SII), the world’s largest vaccine maker, acquired a 20% stake in US-headquartered IntegriMedical for advancing needle-free injection system technology. The company didn’t disclose the financial details of the deal.
IntegriMedical has developed a US-patented needle-free injection system (N-FIS) that utilises high-velocity jet streams using mechanical power for administering biologics and drugs.
“At SII, we are constantly seeking opportunities to invest in technologies that align with our mission to make healthcare accessible and affordable for people worldwide. IntegriMedical’s Needle-Free Injection Systems (N-FIS) represent a significant advancement in drug delivery and we envision a needle-free solution to deliver vaccines. We believe this could potentially revolutionize the way we administer vaccines, making the process more comfortable for patients and healthcare professionals,” Adar Poonawalla, CEO of SII said in a release.
