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Tata Group's Advinus Therapeutics has penned down an agreement with Japan-based drug giant Takeda Pharmaceutical Co. to start a three-year R&D collaboration.

Under the terms of the agreement, Takeda will give Advinus guaranteed research funding of $36 million to help it explore novel molecules in the various areas, including inflammatory diseases, central nervous system and metabolic diseases.

Goa government's decision to form a high-level committee, headed by a retired high court, to probe alleged irregularities in iron ore mining would result in a further delay in restarting of mining operations, the mining industry said.

The government of Goa on Wednesday announced that it would form a six-member high-level investigation committee, headed by retired Bombay high Court Judge RM Khande parkar, to investigate irregularities in iron ore mining pointed out by the Justice MB Shah panel.

The Asian Development Bank (ADB) on Wednesday slashed its growth forecasts for India and China, citing weakening growth momentum in the two Asian giants.

In its Asian Development Outlook, the ADB lowered its growth projection for India to 5.6 per cent for the financial year of 2012-13, from its previous projection of 7 per cent.

For China, the bank lowered growth projection from 9.3 per cent to 7.7 per cent. For the financial year of 2013-14, the bank expects growth to recover to 6.7 per cent in India and 8.1 per cent in China.

British telecom firm Asergis dragged Bharti Airtel to the Telecom Disputes Settlement & Appellate Tribunal (TDSAT) over toll-free number (TFN) blocking issue.

Asergis accused Airtel of blocking its subscribers from accessing the TFNs it leased from Tata Teleservices on the ground that calls to the TFNs were terminating outside India.

Asergis had ordered seventy-one TFNs from Tata Teleservices for a project. They initially activated one number on trial basis. But Airtel soon blocked the traffic to the TFNs, even before the project could take off.

The Reserve Bank of India (RBI) may reduce interest rates as there is a now a strong case for easing of repo rate policy, Department of Economic Affairs Secretary Arvind Mayaram said.

Mayaram said that the central bank was as concerned about the economic growth as the government was, and added that the rupee appreciation would drastically cut subsidy burden.