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Dublin, July 17, 2025 – Aon plc (NYSE: AON), a leading global professional services firm, today announced that Chris Spiridis will rejoin the firm as global enterprise construction project leader, effective July 18, 2025.

As climate change, technological innovation and artificial intelligence continue to transform the global landscape, the demand for complex construction and infrastructure projects is accelerating – much of it driven by the world’s largest corporations investing in global expansion. Aon supports many of these multinational firms through its Enterprise Client Group, delivering sharper insights and more agile risk solutions to help them navigate uncertainty and fuel growth. Both Aon’s Construction practice and its Enterprise Client segment remain strategic priorities, representing key areas of ongoing investment and global expansion for the firm.

In his new role, Spiridis will lead the strategy for Enterprise client global construction projects.  He will engage Aon’s specialist teams in Project Solutions, Builders Risk, Professional Liability, Claims and loss control across Aon’s global regions to ensure Aon delivers the best results globally for our Enterprise clients. He will also harness the firm’s investments in data, analytics and proprietary content to deliver differentiated value to clients. With more than two decades of experience, Spiridis brings deep expertise in complex infrastructure and construction risk, along with a strong track record of client advocacy and innovation.

“Chris’s return to Aon reflects our commitment to investing in top talent to meet the evolving needs of our clients,” said Rob McDonough, CEO of construction, infrastructure and surety, North America. “His expertise will be instrumental as we continue to deliver bold solutions for the world’s most ambitious construction projects.”

“We’re thrilled to welcome Chris back to Aon,” added James MacNeal, global head of construction and infrastructure. “His deep understanding of our platform, combined with his client-first mindset, will help us accelerate growth and deliver even greater impact to our clients across the global construction industry.”

Spiridis will be based in New York and report to both MacNeal and McDonough.

About Aon

Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses.

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GSK plc (LSE/NYSE: GSK) notes that the US Food and Drug Administration (FDA) Oncologic Drugs Advisory Committee (ODAC) voted against the overall benefit/risk profile at the proposed dosage of Blenrep (belantamab mafodotin-blmf) combinations. The belantamab mafodotin combinations were evaluated in adults with relapsed or refractory multiple myeloma who have received at least one prior line of therapy.

The FDA will consider the recommendation of the committee as it finalises its review on Blenrep in advance of the 23 July 2025 PDUFA date. 

GSK remains confident in the benefit/risk profile of Blenrep (belantamab mafodotin-blmf) and will continue to work closely with the FDA as they complete their review for Blenrep in patients with relapsed or refractory multiple myeloma where there is high unmet need for novel treatment options that extend survival. 

Blenrep combinations are approved in relapsed or refractory multiple myeloma in the UK¹ and Japan², as well as other markets, including Switzerland (based on the results of DREAMM-8). Applications are currently under review in all major markets globally, including the European Union³, and China⁴ (based on the results of DREAMM-7, with Breakthrough Therapy Designation for the combination and priority review for the application). 

About multiple myeloma

Multiple myeloma is the third most common blood cancer globally and is generally considered treatable but not curable.^5,6 There are approximately more than 180,000 new cases of multiple myeloma diagnosed globally each year.⁷ Multiple myeloma is a significant and enduring health concern in the US, where more than 35,000 cases were diagnosed in 2024.⁸ Research into new therapies is needed as multiple myeloma commonly becomes refractory to available treatments.⁹ Many patients with multiple myeloma are treated in a community cancer setting, leaving an urgent need for new, effective therapies with manageable side effects that can be administered outside of an academic centre.^10,11

About Blenrep

Blenrep is an ADC comprising a humanised BCMA monoclonal antibody conjugated to the cytotoxic agent auristatin F via a non-cleavable linker. The drug linker technology is licensed from Seagen Inc.; the monoclonal antibody is produced using POTELLIGENT Technology licensed from BioWa Inc., a member of the Kyowa Kirin Group.

Indication

Blenrep combinations were approved in relapsed or refractory multiple myeloma in the UK in April 2025 and in Japan in May 2025. Applications are currently under review in all major markets.

In the UK, Blenrep is indicated in adults for the treatment of multiple myeloma:

• in combination with bortezomib and dexamethasone in patients who have received at least one prior therapy; and
• in combination with pomalidomide and dexamethasone in patients who have received at least one prior therapy including lenalidomide.

IMPORTANT SAFETY INFORMATION FOR BLENREP

More information can be found in the Blenrep Summary of Product Characteristics and Patient Information leaflets available on the MHRA Products website.¹²

About DREAMM-7

DREAMM-7 is a multicentre, open-label, randomised phase III clinical trial evaluating the efficacy and safety of belantamab mafodotin combined with bortezomib plus dexamethasone (BVd) compared to daratumumab combined with bortezomib plus dexamethasone (DVd) in patients with relapsed or refractory multiple myeloma who previously were treated with at least one prior line of multiple myeloma therapy, with documented disease progression during or after their most recent therapy. The trial enrolled 494 participants who were randomised 1:1 to receive either BVd or DVd. Belantamab mafodotin was administered at a dose of 2.5mg/kg intravenously every three weeks in combination for the first eight cycles and then continued as a single agent. The primary endpoint was progression-free survival (PFS) as per an independent review committee, with secondary endpoints including overall survival (OS), duration of response (DOR), and minimal residual disease (MRD) negativity rate as assessed by next-generation sequencing. Other secondary endpoints include overall response rate (ORR), safety, and patient reported and quality of life outcomes.

In DREAMM-7, BVd nearly tripled median PFS versus DVd (36.6 months versus 13.4 months, respectively (hazard ratio [HR]: 0.41 [95% confidence interval (CI): 0.31-0.53], p-value<0.00001). DREAMM-7 also met the key secondary endpoint of OS, showing a statistically significant and clinically meaningful 42% reduction in the risk of death at a median follow-up of 39.4 months favouring BVd (n=243) versus DVd (n=251) (HR 0.58; 95% CI: 0.43-0.79; p=0.00023). The three-year OS rate was 74% in the BVd arm and 60% in the DVd arm.

PFS results were presented at the American Society of Clinical Oncology (ASCO) Plenary Series in February 2024 and published in the New England Journal of Medicine. OS results were presented at the American Society of Hematology (ASH) Annual Meeting in December 2024.^13,14

About DREAMM-8

DREAMM-8 is a multicentre, open-label, randomised phase III clinical trial evaluating the efficacy and safety of belantamab mafodotin in combination with pomalidomide plus dexamethasone (BPd) compared to bortezomib and pomalidomide plus dexamethasone (PVd) in patients with relapsed or refractory multiple myeloma previously treated with at least one prior line of multiple myeloma therapy, including a lenalidomide-containing regimen, and who have documented disease progression during or after their most recent therapy. The trial included 302 participants who were randomised 1:1 to receive either BPd or PVd. Compared to the patient population studied in the DREAMM-7 trial, patients in DREAMM-8 were more heavily pre-treated in that all had prior exposure to lenalidomide, 78% were refractory to lenalidomide, 25% had prior daratumumab exposure and of those most were daratumumab refractory. Belantamab mafodotin was administered at a dose of 2.5mg/kg intravenously for the first cycle and then 1.9mg/kg intravenously every four weeks. The primary endpoint was PFS as per an independent review committee, with key secondary endpoints including OS and MRD negativity rate as assessed by next-generation sequencing. Other secondary endpoints include ORR, DOR, safety, and patient reported and quality of life outcomes. 

At the primary analysis at a median follow-up of 21.8 months, the median PFS was not yet reached (95% CI: 20.6-not yet reached [NR]) with the Blenrep combination compared to 12.7 months in the bortezomib combination (95% CI: 9.1-18.5). A positive OS trend was observed but not statistically significant (HR: 0.77 [95% CI: 0.53-1.14]) at the interim analysis. OS follow-up continues and further analyses are planned.  

With additional follow-up, a clinically meaningful benefit continued to be observed, with a near-tripling of the median PFS for the Blenrep combination versus the bortezomib combination (32.6 months versus 12.5 months, respectively (HR: 0.49 [95% CI: 0.35-0.68]). At the end of one year, 71% (95% CI: 63-78) of patients in the BPd combination group compared to 51% (95% CI: 42-60) in the PVd combination group were alive and had not progressed. A benefit for BPd was observed across all pre-specified subgroups including those with poor prognostic features, such as patients who were refractory to lenalidomide and patients with high-risk cytogenetics.

Results were first presented at the 2024 ASCO Annual Meeting and published in the New England Journal of Medicine.¹⁵ Updated PFS results were presented at European Hematology Association Congress (EHA) 2025.¹⁶

GSK in oncology

Our ambition in oncology is to help increase overall quality of life, maximise survival and change the course of disease, expanding from our current focus on blood and women’s cancers into lung and gastrointestinal cancers, as well as other solid tumours. This includes accelerating priority programmes such as antibody-drug conjugates targeting B7-H3 and B7-H4, and IDRX-42, a highly selective KIT tyrosine kinase inhibitor.

About GSK 

GSK is a global biopharma company with a purpose to unite science, technology, and talent to get ahead of disease together. Find out more at gsk.com.

References

1. GSK press release issued 17 April 2025. Blenrep (belantamab mafodotin) combinations approved by UK MHRA in relapsed/refractory multiple myeloma. Available at https://www.gsk.com/en-gb/media/press-releases/blenrep-belantamab-mafodotin-combinations-approved-by-uk-mhra-in-relapsedrefractory-multiple-myeloma/.
2. GSK press release issued 19 May 2025. Blenrep (belantamab mafodotin) combinations approved in Japan for treatment of relapsed/refractory multiple myeloma. Available at https://www.gsk.com/en-gb/media/press-releases/blenrep-belantamab-mafodotin-combinations-approved-in-japan/.
3. GSK press release issued 19 July 2024. Blenrep (belantamab mafodotin) combinations in multiple myeloma application accepted for review by the European Medicines Agency. https://www.gsk.com/en-gb/media/press-releases/blenrep-belantamab-mafodotin-combinations-in-multiple-myeloma-application-accepted-for-review-by-the-european-medicines-agency.
4. GSK press release issued 9 December 2024. Blenrep (belantamab mafodotin) combination accepted for priority review in China in relapsed/refractory multiple myeloma. Available at: https://www.gsk.com/en-gb/media/press-releases/blenrep-belantamab-mafodotin-combination-accepted-for-priority-review-in-china-in-relapsedrefractory-multiple-myeloma/.
5. Sung H, Ferlay J, Siegel R, et al. Global Cancer Statistics 2020: GLOBOCAN Estimates of Incidence and Mortality Worldwide for 36 Cancers in 185 Countries. CA Cancer J Clin. 2021;71(3):209-249. doi:10.3322/caac.21660.
6. Kazandjian D. Multiple myeloma epidemiology and survival: A unique malignancy. Semin Oncol. 2016;43(6):676–681.doi: 10.1053/j.seminoncol.2016.11.004.
7. Global Cancer Observatory. International Agency for Research on Cancer. World Health Organization. Multiple Myeloma fact sheet. Available at: https://gco.iarc.who.int/media/globocan/factsheets/cancers/35-multiple-myeloma-fact-sheet.pdf. Accessed 5 March 2025.
8. American Cancer Society Cancer Statistics Center. Myeloma. https://cancerstatisticscenter.cancer.org/#!/cancer-site/Myeloma.
9. Nooka AK, Kastritis E, Dimopoulos MA. Treatment options for relapsed and refractory multiple myeloma. Blood. 2015;125(20). doi:10.1182/blood-2014-11-568923.
10. Gajra A, Zalenski A, Sannareddy A, et al. Barriers to Chimeric Antigen Receptor T-Cell (CAR-T) Therapies in Clinical Practice. Pharmaceut Med. 2022 Jun;36(3):163-171.
11. Crombie J, Graff T, Falchi L, et al. Consensus recommendations on the management of toxicity associated with CD3×CD20 bispecific antibody therapy. Blood (2024) 143 (16): 1565–1575.  
12. Medicines & Healthcare products Regulatory Agency website: https://products.mhra.gov.uk/.
13. Hungria V, Robak P, Hus M et al. Belantamab Mafodotin, Bortezomib, and Dexamethasone for Multiple Myeloma. N Engl J Med. 2024 Aug 1;391(5):393-407. doi: 10.1056/NEJMoa2405090. Epub 2024 Jun 1. PMID: 38828933. 
14. Hungria V, Robak P, H Marek et al. Belantamab Mafodotin, Bortezomib, and Dexamethasone Vs Daratumumab, Bortezomib, and Dexamethasone in Relapsed/Refractory Multiple Myeloma: Overall Survival Analysis and Updated Efficacy Outcomes of the Phase 3 Dreamm-7 Trial. Presented at the 66th American Society of Hematology (ASH) Annual Meeting and Exposition. December 2024.
15. Dimopoulos MA, Beksac M, Pour L, Delimpasi S et al. Belantamab Mafodotin, Pomalidomide, and Dexamethasone in Multiple Myeloma. N Engl J Med. 2024 Aug 1;391(5):408-421. doi: 10.1056/NEJMoa2403407. Epub 2024 Jun 2. PMID: 38828951.
16. Dimopoulos MA, Beksac M, Pour L et al. Updated results from phase 3 DREAMM-8 study of Belantamab Mafodotin, Pomalidomide and Dexamethasone versus Pomalidomide plus Bortezomib and Dexamethasone in relapsed/refractory multiple myeloma. HemaSphere | 2025;9(S1) 846 EHA 2025 Congress.

On Friday, July 18, the exchange rate for the UK Pound (GBP) against the Pakistani Rupee (PKR) in the open market is Rs 390.6.

The rates for trading are distinguished, with the buying rate set at Rs 386.5 and the selling rate at Rs 390.6 on July 18^, 2025.

UK Pound Rate- Latest Updates

These exchange rate movements have a significant impact on businesses, tourists, and individuals involved in cross-border financial transactions between the United Kingdom and Pakistan. The rates were last updated at 02:05 PST on July 18, 2025.

The volatility observed in the UK pound rate stems from multiple factors, including fluctuations in supply and demand for both currencies, as well as macroeconomic indicators such as inflation and interest rates. Additionally, market sentiment, trader expectations, and geopolitical dynamics play a critical role in driving these fluctuations.

Currency Valuation Dynamics

UK pound exchange rates are determined in the foreign exchange market, where the interplay of supply and demand establishes currency values. Central banks further influence these rates through monetary policy measures and management of foreign exchange reserves.

Read More: Omani Rial to Pakistani rupee rate; July 18, 2025

This intricate balance of economic and market factors shapes the GBP/PKR exchange rate.

Importance of monitoring the UK pound exchange rates

Monitoring the pound rate is crucial for individuals and businesses dealing with UK currency. Fluctuations in the pound rate can affect the cost of imported goods, investment returns, travel expenses, and remittances.

For instance, when the pound weakens against local currency, UK products become more affordable, but sending money to the UK may cost more. Keeping an eye on the pound rate helps in making informed financial decisions and avoiding unexpected losses.

Note: This information is intended solely for informational and estimation purposes and should not be used for trading or financial advice. It is essential to confirm prices with your broker before entering into any transactions or investment activities. 

A British trader who was jailed in the United States for allegedly manipulating foreign exchange rates has had his conviction overturned after a nine-year struggle for justice.

Former HSBC trader Mark Johnson, 59, has fought to establish his innocence ever since he was convicted of fraud in 2017 in connection with a large foreign exchange trade six years earlier.

He served time in jail in US federal prisons and in Wandsworth prison in the UK, exhausting avenues of appeal before being released on license in 2022.

After the US courts in 2023 overturned a law that was used to prosecute him, he launched a fresh appeal, which has now been allowed by a US appeal court, granting him a full acquittal.

Mr Johnson’s US lawyer Alexandra Shapiro said: “We are delighted that justice has finally been achieved for Mark Johnson, after a nine-year ordeal. This is a case that never should have been brought.”

Prosecutors at Mr Johnson’s trial alleged he had conspired with a colleague to increase the price of sterling against the dollar before executing a huge foreign exchange trade for HSBC’s client Cairn Energy, converting $3.5bn into pounds.

They alleged that on behalf of HSBC, Mr Johnson arranged to buy sterling in advance, inflating the currency’s value so that the bank made a quick gain before executing the trade for its client at a higher price – so called ‘front-running’.

Following his conviction a foreign exchange industry body, ACI Financial Markets Association, petitioned the court, protesting that purchasing a currency ahead of a large trade was a normal industry practice to manage a bank’s risk, known in the industry as ‘pre-hedging’.

“Mr Johnson carried out the Cairn transaction consistent with industry practice and in violation of no law or rule, and he looks forward to moving on with his life,” said Ms Shapiro.

Mr Johnson, a father of five from Hampshire, was originally arrested on 19 July 2016 as he accompanied his son and a friend to JFK Airport on his way home to the UK and was later tried and convicted on 18 October 2017.

His arrest took place three days after demands in Congress for the US government to pursue the prosecution of HSBC employees who had avoided facing justice.

Those calls were prompted by a congressional report, Too Big to Jail, which revealed that the British government had secretly intervened on HSBC’s behalf in 2012, when the bank face the risk of prosecution for helping a Mexican drug cartel launder £881m and for facilitating trades with US-sanctioned countries such as Iran, Libya and Sudan.

Senior executives at HSBC had urged him to accept a new role in the US in March 2016, four months before his subsequent arrest. Because he was arrested in the US, it meant that there was no need for extradition proceedings.

By contrast his alleged co-conspirator, Stuart Scott, contested extradition to the US and won his hearing. The US Department of Justice later withdrew the charges against him.