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Rupee slips 11 paise to 69.61 against USD in early trade

US military's Central Command releases video it says shows Iran removing limpet mine from targeted oil tanker

US military's Central Command releases video it says shows Iran removing limpet mine from targeted oil tanker.

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FDA Okays Amgen And Allergan’s Kanjinti, Biosimilar To Herceptin

Amgen (AMGN) and Allergan plc (AGN) said that the U.S. Food and Drug Administration approved Kanjinti or trastuzumab-anns for all approved indications of the reference product, Herceptin or trastuzumab for the treatment of HER2-overexpressing adjuvant and metastatic breast cancer and HER2-overexpressing metastatic gastric or gastroesophageal junction adenocarcinoma.

Amgen has a total of 10 biosimilars in its portfolio, three of which have been approved in the U.S. and three that are approved in the European Union.

The company said that Kanjinti is currently not available commercially.

In the U.S., KANJINTI is approved for Adjuvant Breast Cancer, Metastatic Breast Cancer, Metastatic Gastric Cancer.

Hong Kong quiet, but more protests possible this weekend

HONG KONG — Calm appeared to have returned to Hong Kong after days of protests by students and human rights activists opposed to a bill that would allow suspects to be tried in mainland Chinese courts.

The prospect of further protests over the weekend loomed large, however, with demonstrators saying they were determined to prevent the administration of Beijing-appointed Chief Executive Carrie Lam from pushing through the legal amendments they see as eroding Hong Kong’s cherished legal autonomy.

Traffic flowed on major thoroughfares that had been closed after a protest by hundreds of thousands of people on Sunday, posing the biggest political challenge yet to Lam’s two-year-old government. Protesters had kept up a presence through Thursday night, singing hymns and holding up signs criticizing the police for their handling of the protests.

Raptors hold off depleted Warriors to win their first NBA title

OAKLAND, Calif. — Kawhi Leonard and the Toronto Raptors captured Canada’s first NBA championship with their most remarkable road win yet in the franchise’s NBA Finals debut, outlasting the battered and depleted two-time defending champion Golden State Warriors 114-110 on Thursday night in a Game 6 for the ages that spoiled a sensational send-off at Oracle Arena.

Stephen Curry missed a contested 3-pointer in the waning moments before Golden State called a timeout it didn’t have, giving Leonard a technical free throw with 0.9 seconds left to seal it. Leonard then got behind Andre Iguodala for a layup as the buzzer sounded, but it went to review and the basket was called off before Leonard’s two free throws. That only delayed the celebration for a moment.

Curry walked away slowly, hands on his head on a night Splash Brother Klay Thompson suffered a left knee injury and departed with 30 points.

Leonard scored 22 and Kyle Lowry had 26 points, 10 assists and seven rebounds.

China raises anti-dumping duties on some US, EU steel tubes and pipes

  • China is raising anti-dumping duties on certain alloy-steel seamless tubes and pipes used at utilities and imported from the United States and the European Union, its Commerce Ministry said on Friday.
  • The anti-dumping tax rate applicable to the steel tubes and pipes is between 57.9% and 147.8% on companies in the United States and the EU, effective June 14.

China said on Friday that it was raising anti-dumping duties on certain alloy-steel seamless tubes and pipes used at utilities and imported from the United States and the European Union.

The anti-dumping tax rate applicable to the steel tubes and pipes is between 57.9% and 147.8% on companies in the United States and the EU, effective June 14, the Commerce Ministry said on Friday.

Tariffs on U.S. steel extrusion firm Wyman-Gordon Forgings are at 101%, while those on all other U.S. companies are 147.8%, the ministry said.

The anti-dumping tariff on Vallourec units Vallourec Deutschland GmbH and Vallourec Tubes France are 57.9%, with all other EU companies face tariffs of 60.8%.

China, the world's largest steel producer and consumer, had imposed 13-14.1% tariffs on companies in the United States and the EU in 2014 which expired on May 10, 2019.

The decision to extend the anti-dumping tariff follows a request from the Chinese domestic steel tubes and pipes sector, the ministry said.

Rupee slips 11 paise to 69.61 against USD in early trade

Forex traders said, Rupee is trading in a narrow range as prospects of an interest rate cut by the U.S. Federal Reserve kept investors edgy

The Rupee opened on a weak note and declined by 11 paise to 69.61 against the U.S. Dollar in opening trade today, as rising crude oil price concerns weighed on investor community.

The Rupee opened weak at 69.55 at the interbank forex market and then fell further to 69.61, down 11 paise over its last close.

The Rupee had settled at 69.50 against the U.S. Dollar on June 13.

Forex traders said, Rupee is trading in a narrow range as prospects of an interest rate cut by the U.S. Federal Reserve kept investors edgy.

Besides, strengthening of the American currency in the overseas market and weak opening in domestic equities weighed on the local unit.

Meanwhile, foreign fund inflows supported the domestic currency.

Brent crude futures, the global oil benchmark, rose 0.47 per cent to $61.60 per barrel.

Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in ₹172.35 crore June 13, as per provisional data.

Domestic bourses opened on a cautious note today, with benchmark indices Sensex trading 76.97 points down at 39,664.39 and Nifty down 28.25 points at 11,885.80.