Category: 3. Business

  • James D. Chalmers, MBChB, PhD

    James D. Chalmers, MBChB, PhD

    In part 2 of an interview with James D. Chalmers, MBChB, PhD, professor of respiratory medicine at the University of Dundee in Scotland, he expands upon the safety and tolerability profile of brensocatib (Brinsupri; Insmed), which received FDA approval last week for the treatment of patients with non–cystic fibrosis bronchiectasis.

    Watch part 1 to hear his insights on the ASPEN trial (NCT04594369) that supported this approval and how the therapy may change the treatment landscape for this patient population.

    This transcript has been lightly edited for clarity; captions are auto-generated.

    Transcript

    What should clinicians know about the safety and tolerability profile of brensocatib? How do you expect it to be managed in practice?

    The safety was very reassuring. The incidence of adverse events—which is always what we look for in clinical trials—and serious adverse events were very similar between the placebo group and the 2 treatment groups, so there was no evidence that there was any significant safety issue.

    We particularly look for the frequency of infections because, I think, clinicians, when they hear that you’ve got an anti-inflammatory drug, they think, “Oh, is that going to increase the risk of infection?” The really reassuring thing to let everyone know is that there was no increased risk of pneumonia or other types of infections, which is remarkable for a treatment that targets the neutrophil as an anti-inflammatory approach. That’s also really reassuring.

    There is this rare genetic condition called Papillon-Lefèvre syndrome, which is incredibly rare, and it’s caused by a knockout in this gene called dipeptidyl peptidase 1, which is the mechanism of action of the drug. We look very carefully for dental adverse effects and skin adverse effects, because those are the manifestations of that disease.

    We don’t see any dental issues in the trial, and there were no clinically significant issues either in the phase 2 trial from a dental point of view. The only thing that really showed up in the phase 3 trial was this slightly higher frequency of hyperkeratosis. Just to put that in some context for your viewers, there were 4 cases in the placebo group, 8 cases in the 10 mg group, and 16 cases in the 25 mg group.

    When you consider that there are more than 500 patients in each of those arms, these are quite rare [adverse] effects. Importantly, they were mild and manageable. There was actually only 1 patient in the whole trial who discontinued because of their hyperkeratosis as an adverse effect.

    In practice, I don’t think we’re going to have any significant issues with this. Some patients will develop a bit of hyperkeratosis that seems to respond in the trial to a treatment interruption; it just goes away. That’s how I would expect to manage it in clinical practice.

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  • 10 things to watch in the stock market Friday including the Fed and Nvidia’s China plans

    10 things to watch in the stock market Friday including the Fed and Nvidia’s China plans

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  • Alibaba.com Honors Pakistan’s Top Exporters, Unveils Major Trade Assurance Upgrade

    Alibaba.com Honors Pakistan’s Top Exporters, Unveils Major Trade Assurance Upgrade

    Alibaba.com, a leading global business-to-business (B2B) e-commerce platform, today celebrated the nation’s top e-commerce businesses at the KEL Awards 2025 ceremony while launching its enhanced Trade Assurance 2.0 service in Pakistan. The event brought together key industry leaders, including Omer Khalid, Vice President of SCCI and Sayyed Ahmad Masud, Project Director of the National Incubation Center Islamabad, to honor local exporters who have leveraged Alibaba.com to transform their operations and expand their businesses globally.

    The launch of Trade Assurance 2.0 was a key highlight, introducing major enhancements designed to empower Pakistani exporters. This updated service directly addresses their needs by offering reduced transaction fees, free withdrawals, higher order and credit limits, and more payment options, empowering local businesses to conduct international trade with greater efficiency and security.

    “Pakistan represents a high-potential supplier market for Alibaba.com, boasting robust production capabilities and a diverse range of product categories that capture substantial global buyer interest. To capitalize on this potential, we have deliberately upgraded Trade Assurance 2.0 to provide suppliers with the essential tools to overcome challenges related to cost and credit. This service is designed to enable Pakistani businesses to secure higher-value orders and drive substantial growth in their global operations.” said Summer Gao, Head of Global Supply Chain Services at Alibaba.com.

    Honoring Pakistan’s Top Global Exporters

    The KEL Awards 2025 showcased the remarkable achievements of six Pakistan’s top e-commerce finalists, each delivering insightful presentations on the strategies that fueled their success on the Alibaba.com platform. The ceremony honored top performers across a wide range of sectors, from apparel to surgical goods, with winners recognized in two categories, Global Trade Innovators and E-commerce Export Masters.

    This year’s top honors of Alibaba.com Pakistan Key E-commerce Leader were awarded to Mr. Muhammad Usman Humayun from Gray Rocks Enterprise, Mr. Haider Ali from IMPEX Pakistan, and Mr. Muhammad Azam Rahmat from Mangoes Fashion. Additionally, the event featured a People’s Choice Award for 2025, which was presented to Mr. Muhammad Wasim from Blue Hands International based on audience voting. The finalists were evaluated by a distinguished judging panel with the challenging mission of selecting the winners including, Omer Khalid (Vice President of SCCI), Sayyed Ahmad Masud (Project Director of National Incubation Center Islamabad), Usman Chughtai (Key E-commerce Influencer), Berry Ma (Head of Pakistan Business, Alibaba.com), Summer Gao (Head of Global Supply Chain, Alibaba.com).

    Berry Ma, Head of Pakistan Business at Alibaba.com, emphasized the significance of the awards, stating, “The Pakistan KEL Awards are more than just a competition. They’re a powerful celebration of the ingenuity and resilience of Pakistan SMEs. We’re honored to provide a platform that enables exporters to not only succeed but also inspire. These finalists prove that with the right tools, Pakistani businesses can push the boundaries of global trade and seize opportunities in the global marketplace.”

    One of the six finalists, Muhammad Azam Rehmat, from Mangoes Fashion shared a compelling story that underscores the transformative power of ambition and innovation in e-commerce. As a farmer’s son, began his two-person garments company, Mangoes Fashion, in 2020. Despite having local manufacturing expertise, breaking into the competitive global market felt nearly impossible without a trusted channel to connect with international buyers. The solution came in 2021 when the company joined Alibaba.com. By leveraging the platform’s ecosystem and securing a Verified tag, Mangoes Fashion gained the credibility and visibility needed to transform its small-scale operation into a global venture, providing a direct channel to buyers worldwide.

    The results were transformative and rapid. Mangoes Fashion achieved over 200% annual growth, securing landmark deals including a single order worth $62,545 and six subsequent orders of $20,000 each. Today, what started as a small team exports apparel to key markets across the United States, Europe, Australia, and Canada, proving that local businesses can leverage digital tools to achieve significant global success. This impressive growth was not only a highlight of Azam’s entrepreneurial journey but also serves as an inspiration for aspiring entrepreneurs in Pakistan to harness technology in the pursuit of their dreams.

    Finalists in the Alibaba.com KEL Award 2025 Finale include:

    ● Mr Muhammad Wasim from Blue Hands International

    ● Mr Haider Ali from IMPEX Pakistan

    ● Mr Usman Asif from Moytei Sports

    ● Mr Muhammad Azam Rahmat from Mangoes Fashion

    ● Mr Imran Iqbal Bajwa from Producing Peak

    ● Mr Muhammad Usman Humayun from Gray Rocks Enterprise


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  • Tech war: which Chinese firm is supplying next-generation AI chips to DeepSeek?

    Tech war: which Chinese firm is supplying next-generation AI chips to DeepSeek?

    The Hangzhou-based start-up’s cryptic one-line post on WeChat triggered online discussions about which AI chip supplier, or suppliers, would unveil this breakthrough, even as US tech restrictions remain in place.
    DeepSeek’s post on Thursday said the “UE8M0 FP8 scale” of its V3.1 AI model was particularly designed “for home-grown chips to be released soon”. Apart from not identifying the supplier, the firm did not specify how the new AI chips would be used – for training of models or inferencing, the stage where an AI system puts its learning into action.
    “It’s also likely that the new model will support a number of AI chips, not just those from Huawei or another company,” Liu Jie, an engineer at a Shanghai-based developer of graphics processing units (GPUs), said on Friday.

    The speculation reflects not only growing confidence in the capabilities of locally designed and produced integrated circuits, but also how China’s semiconductor industry has steadily overcome US tech sanctions.

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  • Surging US LNG exports to fuel growth in shale gas production – Reuters

    1. Surging US LNG exports to fuel growth in shale gas production  Reuters
    2. US gas-heavy power pipeline set to stoke LNG exporter tensions  Reuters
    3. Evan Simon, Floodlight  WWNO
    4. Expanded LNG exports bring pollution, rising prices, and resistance along the Gulf Coast  ehn.org
    5. Trump-fueled LNG boom has fenceline Gulf Coast communities on edge  Louisiana Illuminator

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  • Hundreds of TikTok UK moderator jobs at risk despite new online safety rules | TikTok

    Hundreds of TikTok UK moderator jobs at risk despite new online safety rules | TikTok

    TikTok has put hundreds of UK content moderators’ jobs at risk, even as tighter rules come into effect to stop the spread of harmful material online.

    The viral video app said several hundred jobs in its trust and safety team could be affected in the UK, as well as south and south-east Asia, as part of a global reorganisation.

    Their work will be reallocated to other European offices and third-party providers, with some trust and safety jobs remaining in the UK, the company said.

    It is part of a wider move at TikTok to rely on artificial intelligence for moderation. More than 85% of the content removed for violating its community guidelines is identified and taken down by automation, according to the platform.

    The cuts come despite the recent introduction of new UK online safety rules, which require companies to introduce age checks on users attempting to view potentially harmful content. Companies can be fined up to £18m or 10% of global turnover for breaches, whichever is greater.

    John Chadfield of the Communication Workers Union said replacing workers with AI in content moderation could put the safety of millions of TikTok users at risk.

    “TikTok workers have long been sounding the alarm over the real-world costs of cutting human moderation teams in favour of hastily developed, immature AI alternatives,” he said.

    TikTok, which is owned by the Chinese tech group ByteDance, employs more than 2,500 staff in the UK.

    Over the past year, TikTok has been cutting trust and safety staff across the world, often substituting workers with automated systems. In September, the company fired its entire team of 300 content moderators in the Netherlands. In October, it then announced it would replace about 500 content moderation employees in Malaysia as part of its shift towards AI.

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    Meanwhile, business at TikTok is booming. Accounts filed to Companies House this week, which include its operations in the UK and Europe, showed revenues grew 38% to $6.3bn (£4.7bn) in 2024 compared with the year prior. Its operating loss narrowed from $1.4bn in 2023 to $485m.

    A TikTok spokesperson said the company was “continuing a reorganisation that we started last year to strengthen our global operating model for trust and safety, which includes concentrating our operations in fewer locations globally to ensure that we maximise effectiveness and speed as we evolve this critical function for the company with the benefit of technological advancements”.

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  • Analyst calls on Friday include Nvidia, Ulta Beauty and Roblox

    Analyst calls on Friday include Nvidia, Ulta Beauty and Roblox

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  • Growing regulatory intervention in Namibia

    The Namibian Competition Commission (NaCC) has entered a new phase of regulatory assertiveness. Once regarded as a relatively restrained regulator, the NaCC is now actively making use of its powers under the Namibian Competition Act, 2003 (the Act). Its recent decisions show a sharper focus on interrogating the public interest impact of merger transactions and pursuing prohibited practices across multiple sectors.

     

    A new era for merger control

    Merger control has become the clearest expression of the NaCC’s shift in approach. Beyond analysing the impact of a merger on the market structure, the Commission has embraced (similar to the South African competition authorities) its powers under the Act to consider public interest as an important focal point for merger assessment. Some noteworthy decisions by the NaCC in the past few years where public interest conditions were imposed include:

    • RWCO / Schwenk Namibia (2023)1: Although the NaCC found no substantive competition harm, it imposed conditions designed to enhance local ownership. Notably, the merged entity was barred for one year from purchasing newly available shares in Ohorongo Cement, a subsidiary of Shwenk Namibia, allowing Namibian entities first right of acquisition.
    • Sinomine / Dundee Precious Metals Tsumeb (2024)2: Approval was subject to sweeping conditions, including a three-year moratorium on retrenchments, a requirement for 92% of the workforce to be local citizens; a requirement that management must comprise of 70% local citizens and 30% foreigners; procurement preferences for Namibian-owned undertakings, and environmental undertakings. Sinomine’s subsequent voluntary separation programme – initiated without notifying the NaCC as required by the conditions – has triggered an investigation that could in terms of the Act lead to fines of up to 10% of global turnover and even revocation of approval.
    • Pepkor / Big Daddy Stores (2025)3: Conditions included Small and Medium Enterprise (SME) support, supplier-fairness obligations and a three-year moratorium on merger-specific retrenchments.

    The NaCC has also shown that it is prepared to block deals outright. The prohibition of West China Cement’s proposed acquisition of Schwenk Namibia in July 20244 demonstrates the NaCC’s willingness to intervene where it sees excessive concentration, risks of coordination, or adverse public interest impacts on employment and local government participation.

     

    Enforcement beyond mergers

    The NaCC’s approach to increased enforcement is not limited to merger control. It is also prosecuting restrictive practices with greater frequency:

    • Rent-A-Drum5: In May 2025, Ren-A-Drum, inter alia, admitted to engaging in exclusionary conduct through entering into an exclusive distribution arrangement with Molok Oy in which Rent-A-Drum was given sole distribution rights of Molok related waste products in Namibia. Rent-A-Drum entered into a consent agreement with the NaCC which included a NAD250,000 penalty and costs, pending High Court confirmation.
    • PAN6: In July 2025, PAN admitted to contravening the Act by coordinating interchange fees with major banks. PAN entered into a consent agreement with the NaCC which included a penalty of NAD319,650.
    • Namib Mills and Namib Poultry Industries7: In February 2025, the NaCC announced its intention to launch an investigation against Namib Mills and Namib Poultry Industries for refusal to supply certain poultry products to SMEs.

     

    Strategic takeaways for business

    Businesses operating in Namibia should be alert to several clear trends:

    • Heightened scrutiny of mergers – particularly on public interest grounds such as employment, local ownership, and SME participation.
    • Real consequences for non-compliance – breaches of merger conditions can trigger investigations, fines, and possibly even revocation of approvals.
    • Closer examination of procurement arrangements, with a readiness to challenge restrictions that limit supplier or customer choice.
    • Increased willingness to act against dominant firms, especially where conduct impacts SMEs or consumer welfare.

     

    Final word

    The competition law environment in Namibia is changing rapidly. Merger transactions and notifications to the NaCC now demand careful forward-planning, particularly around employment, local ownership, and participation of local businesses. At the same time, businesses must be increasingly cognisant of how their everyday commercial arrangements with customers and suppliers may give rise to competition concerns.

    This article was written jointly by DLA Piper and DLA Piper Africa, Namibia (Ellis Shilengudwa Incorporated). DLA Piper authors include Werner Rysbergen, Dharshini Naidoo and Zanele Mkatshwa, together with DLA Piper Africa, Namibia authors – Peter Johns and Dr Meyer van Den Berg.

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  • UAE bourses mixed ahead of Fed Chair Powell's speech – Reuters

    1. UAE bourses mixed ahead of Fed Chair Powell’s speech  Reuters
    2. Most Gulf equities end lower  Business Recorder
    3. Fed Board Tensions Weigh On Tadawul As Investors Stay Cautious  Finimize
    4. Mideast Stocks: Gulf shares muted ahead of Fed’s Jackson Hole symposium  ZAWYA
    5. Gulf bourses end mixed in cautious trade ahead of Fed’s symposium  TradingView

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  • US Upland cotton export sales slump to 105,400 bales this week: USDA

    US Upland cotton export sales slump to 105,400 bales this week: USDA

    Net sales of Upland cotton in the US amounted to 105,400 running bales (RB), each weighing 226.8 kg (500 pounds), for the 2025-26 marketing year during the week ending August 14, 2025. This was lower than the previous week’s sales of 242,000 bales.

    According to the weekly export sales report of the US Department of Agriculture (USDA), sales were primarily to Vietnam (35,800 RB, including 400 RB switched from South Korea and reductions of 11,700 RB), Pakistan (28,100 RB, including reductions of 1,200 RB), Bangladesh (21,300 RB, including 2,600 RB switched from Pakistan and reductions of 4,500 RB), Peru (8,400 RB, including reductions of 600 RB), and India (7,300 RB). These were partly offset by reductions for Turkiye (12,600 RB), South Korea (400 RB), and Malaysia (300 RB).

    US net sales of Upland cotton fell sharply to 105,400 running bales (RB) for the 2025-26 marketing year in the week ending August 14, 2025, down from 242,000 bales a week earlier, USDA reported.
    Key buyers included Vietnam, Pakistan, and Bangladesh, though reductions were noted for Turkiye, South Korea, and Malaysia.
    Pima sales totalled 1,000 RB, with shipments of 4,600 RB.

    Export shipments of 123,300 RB were mainly destined for Vietnam (31,100 RB), Bangladesh (18,500 RB), Pakistan (12,200 RB), Mexico (9,600 RB), and Honduras (9,500 RB).

    Net sales of Pima cotton totalled 1,000 RB for 2025-26, primarily for India (800 RB, including reductions of 1,900 RB) and Thailand (200 RB).

    Export shipments of 4,600 RB were primarily to India (2,900 RB), Egypt (700 RB), Thailand (400 RB), Bangladesh (300 RB), and Vietnam (200 RB).

    Fibre2Fashion News Desk (KUL)

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