Category: 3. Business

  • UK to pioneer adaptable licensing for orphan medicines

    UK to pioneer adaptable licensing for orphan medicines

    The Medicines and Healthcare products Regulatory Agency (MHRA) is exploring a move to a more flexible, iterative licensing regime for treatments targeted at rare diseases – broadly, medicinal products intended to treat conditions prevalent in no more than five in every 10,000 people, also known as orphan medicines – after identifying problems with the way existing regulatory requirements map to such treatments.

    “Current regulatory pathways assume large populations, standard endpoints, and multiple trials,” the MHRA said. “Rare disease therapies, however, need flexibility, adaptable trial designs, real-world evidence, and expedited review – needs that existing frameworks do not adequately support.”

    The MHRA’s plans for a more adaptable regulatory regime for orphan medicines are not yet fully fledged – it intends to publish a draft framework by spring 2026 – but its recent policy paper provides an insight into how the system might operate. At the heart of the plans is the intention to develop “a regulatory process which bridges clinical trials and marketing authorisations”.

    In practice, this could mean the MHRA granting “preliminary approvals” based on “appropriate, albeit limited, evidence” with “iterative reassessment” thereafter. It might also involve substituting the need for some clinical trials by relying on other “real-world data” or “natural history comparators”.

    The system could be underpinned by a pooling of data internationally via new “global rare disease registries”, so that developers would have a greater sample size to consider patients and outcomes. Other “appropriate post-market monitoring”, the MHRA said, might entail the need for further studies to be undertaken to “clarify and further define risks” if new evidence emerges once products have been brought to market.

    The MHRA said it is seeking to ensure that the new regulatory regime for orphan medicines is aligned with the health technology assessment process, which in England is overseen by the National Institute for Health and Care Excellence (NICE). However, experts in medicines regulation at Pinsent Masons called on the MHRA to go further.

    Catherine Drew of Pinsent Masons said: “This is a bold approach from the MHRA and is clearly targeted at making the UK an attractive place for the approval of therapies for rare diseases. One could imagine that on the proposed pathway the UK acts in effect as a ‘test bed’ environment, generating further data; prior to the therapy being rolled out globally. Such an approach has the potential to benefit UK patients – if this innovative approach is coupled with an innovative bespoke reward, be that regulatory or intellectual property, such as an additional supplementary protection certificate (SPC) term. There is also the potential of additional significant benefit to originators in engaging with the MHRA in this regime.”

    “However, the regulatory pathway for orphan medicines is only part of the puzzle. The MHRA has not addressed the question of the NHS then paying for the products that are developed,” she said.

    Gareth Morgan of Pinsent Masons added: “With orphan medicines, the market manufacturers are supplying to is often very small, meaning the price they need to charge healthcare providers like the NHS to obtain a fair return on their investment is typically significantly greater than the average medicinal product.”

    “NICE has said that there is flexibility in the system – that they can spend three- to 10-times more than average on rare disease therapies – but many clients do not benefit from this. NICE also said its remit is to get the most ‘health per pound spent’ – an overarching metric that is at odds with the idea of investing in rare disease therapies. In our experience, many clients have struggled to get NICE on board due to the high level of statistical uncertainty around outcomes that low patient numbers bring to orphan drug studies. This level of uncertainty often bleeds into pricing negotiations as NICE will use outcome uncertainty against companies, for example, inferring lower efficacy – and, under its QALY metrics, apply a lower value to the product than manufacturers can reasonably accept,” he said.

    “It is imperative that the MHRA seeks alignment of pricing issues with a revised regulatory pathway for orphan medicines if manufacturers are truly going to be incentivised to focus greater resources into the development of those treatments for the UK market,” Morgan said.

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  • Ryanair scraps printed boarding passes to go fully digital

    Ryanair scraps printed boarding passes to go fully digital

    Passengers who present printed boarding passes at airports will no longer be accepted to fly with Ryanair, the company has announced.

    One of Europe’s biggest budget airlines said it was “moving to 100% digital boarding passes” from Wednesday in a bid to speed up travel and lower costs.

    It said all customers needed to check in online before arriving at the airport, adding that 90% of its 206 million passengers were already doing so and using digital boarding passes.

    Those who fail to check in online ahead of their flight will have to pay an airport check-in fee of up to £55, the airline confirmed.

    However, customers who have checked in online but cannot access their boarding pass on their smart phone will able to receive it for free at the airport – previously there was a £20 charge.

    Ryanair has said the change will make things more efficient and lower flight costs for customers, as well as being environmentally friendly.

    With the exception of Morocco, which still requires a paper boarding pass, the change will apply across Ryanair’s entire operation.

    Passengers travelling to Morocco will still be able to collect boarding passes at the airport.

    Despite the change, the company will continue to have check-in desks at airports.

    Speaking to the BBC, travel expert Simon Calder said most passengers were likely to adapt to digital-only passes but it would prove challenging for others.

    “There will be people who are not necessarily familiar with smartphones, don’t feel comfortable about them or maybe simply don’t want a smartphone at all – they will still have to check in online,” he said.

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  • Tariff uncertainty is throwing Chinese manufacturing into chaos – The Economist

    1. Tariff uncertainty is throwing Chinese manufacturing into chaos  The Economist
    2. US factories rocked by ‘unprecedented’ rise in unsold stock  The Telegraph
    3. Tariff-Driven Shifts Continue to Shape Asia’s Manufacturing Activity  The Wall Street Journal
    4. World top manufacturers struggle as US tariffs hit order books | Daily Sabah  Daily Sabah
    5. South Korea Factory Output Contracts in Oct, PMI Shows  US News Money

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  • FIF – Go Digital in WB – Raiffeisen Bank Kosovo

    Understanding transition

    Further information regarding the EBRD’s approach to measuring transition impact is available here.

    Business opportunities

    For business opportunities or procurement, contact the client company.

    For business opportunities with the EBRD (not related to procurement) contact:

    Tel: +44 20 7338 7168

    Email: projectenquiries@ebrd.com

    For state-sector projects, visit EBRD Procurement:

    Tel: +44 20 7338 6794

    Email: procurement@ebrd.com

    General enquiries

    Specific enquiries can be made using the EBRD Enquiries form.

    Environmental and Social Policy (ESP)

    The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

    More information on the EBRD’s practices in this regard is set out in the ESP.

    Integrity and compliance

    The EBRD’s Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank’s activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

    OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank’s countries of operation. The information provided must be made in good faith.

    Access to Information Policy (AIP)

    The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

    Specific requests for information can be made using the EBRD enquiries form.

    Independent Project Accountability Mechanism (IPAM)

    If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

    IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

    Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

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  • Council-owned farm in Chickerell earmarked for solar project

    Council-owned farm in Chickerell earmarked for solar project

    Plans to create one of the largest renewable energy schemes on local authority land in south-west England are to be drawn up after winning support from councillors.

    Dorset Council says, if approved, the solar project at Higher South Buckland Farm, Chickerell, would help meet net-zero energy targets, generate investment and create jobs.

    A report to the council’s cabinet said the poor soil quality and topography of the 60 hectare (140 acre) site made it “increasingly uneconomic for conventional farming”.

    At a meeting on Tuesday, cabinet members also gave backing to a new strategic partnership with renewable energy developer Source Galileo.

    The report said the collaboration would see the UK-based firm advance the Chickerell solar scheme and investigate the potential of other council-owned properties, including car parks, for renewable energy projects.

    The proposed site, near Weymouth, is among 41 farms totalling 2,600 hectares (6,425 acres) owned by the authority.

    Addressing the meeting, councillor Ryan Hope said: “There’s nothing stopping a solar farm still being used for farming purposes – designed correctly, it can still be used for grazing and livestock.

    “We need to look at green energy, not just to support the council’s net zero targets but to stabilise this country and reduce the reliance on gas.”

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  • Eutelsat and Paratus Sign Agreement to Expand LEO Connectivity Services Across Southern Africa

    Eutelsat and Paratus Sign Agreement to Expand LEO Connectivity Services Across Southern Africa

    Source: Eutelsat

    Eutelsat and Paratus, one of Sub-Saharan Africa’s fastest growing network services providers, have signed a new multi-million, multi-year agreement to expand the delivery of Eutelsat’s OneWeb Low Earth Orbit (LEO) connectivity services across Southern Africa. The agreement was formalised on November 12, 2025.

    This new multi-year agreement expands the existing partnership between Eutelsat and its long-standing partner, Paratus, to deliver an extended range of LEO services across Southern Africa, including solutions for fixed sites, as well as comms-on-the-move and comms-on-pause in South Africa, Angola, Namibia, Botswana and Zambia.

    Paratus has been a long-time distributor of Eutelsat’s GEO connectivity services and was one of the first adopters of its OneWeb LEO connectivity capacities in early 2024. Paratus also built the teleport facility in Angola, a key Eutelsat ground station supporting the deployment of OneWeb LEO services in the region.

    Ghassan Murat, RVP MEA, Eutelsat, said: “Demand for resilient and high-speed connectivity continues to grow across Southern Africa, particularly in sectors operating across remote and distributed sites. This new multi-year agreement reflects the success of our collaboration with Paratus and our shared ambition to provide reliable, scalable, low-latency connectivity in the region. By combining Eutelsat’s LEO capabilities with Paratus’ established network and operational presence, we are enabling organisations to stay connected wherever they operate.”

    Schalk Erasmus, CEO of Paratus, added: “Expanding our LEO service offering with Eutelsat strengthens our strategy of delivering adaptable and robust connectivity solutions across Africa. The combined GEO and LEO capability allows us to serve customers with greater flexibility and performance. Working together, we are supporting our customers’ growth and digital transformation, even in the most challenging environments.”

    About Eutelsat

    Eutelsat is a global leader in satellite communications, delivering connectivity and broadcast services worldwide. Eutelsat was formed through the combination of the Company and OneWeb in 2023, becoming the first fully integrated GEO-LEO satellite operator with a fleet of 34 Geostationary (GEO) satellites and a Low Earth Orbit (LEO) constellation of more than 600 satellites. Eutelsat addresses the needs of customers in four key verticals: Video, where it distributes around 6,400 television channels, and the high-growth connectivity markets of Mobile Connectivity, Fixed Connectivity, and Government Services. Eutelsat’s unique suite of in-orbit assets and ground infrastructure enables it to deliver integrated solutions to meet the needs of global customers. The Company is headquartered in Paris, and Eutelsat employs more than 1,600 people across 75+ countries. Eutelsat is committed to delivering safe, resilient, and environmentally sustainable connectivity to help bridge the digital divide.

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  • China planning renewable energy expansion beyond power sector – Reuters

    1. China planning renewable energy expansion beyond power sector  Reuters
    2. China ties AI, cloud expansion to clean-energy ambitions in new guidelines  MLex
    3. Pre-Market Key News Summary for A-Share Market (2025-11-11)  富途牛牛
    4. China’s economic planner issues guideline to boost new energy consumption  bastillepost.com
    5. Soochow Securities: Establish and improve the integrated development mechanism for coal and new energy, promoting coordinated development between mining and new energy.  富途牛牛

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  • Exclusive: India markets regulator plans wide-ranging reforms to woo foreign investors, chief says – Reuters

    1. Exclusive: India markets regulator plans wide-ranging reforms to woo foreign investors, chief says  Reuters
    2. High costs, low awareness plague Sebi’s stock lending scheme  livemint.com
    3. India markets regulator plans wide-ranging reforms to woo foreign investors, chief says  MarketScreener
    4. SEBI to review short selling and SLBM frameworks  Securities Finance Times
    5. #CNBCTV18GLS | SEBI’s Tuhin Kanta Pandey says the market regulator will continue to streamline the capital raising process, adds that derivatives play a vital role in price discovery. “We have made several regulatory changes and will take a consultative app  LinkedIn

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  • Banks and insurers deploy AI agents to fight fraud and process applications, with plans for new roles to supervise the AI

    Banks and insurers deploy AI agents to fight fraud and process applications, with plans for new roles to supervise the AI





    Banks and insurers deploy AI agents to fight fraud and process applications, with plans for new roles to supervise the AI – Capgemini USA












    Banks and insurers deploy AI agents to fight fraud and process applications, with plans for new roles to supervise the AI – Capgemini USA













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  • BIS Global Economy Meeting and Economic Consultative Committee Chair

    BIS Global Economy Meeting and Economic Consultative Committee Chair

    The Board of Directors of the Bank for International Settlements (BIS) has today announced that Christine Lagarde, President of the European Central Bank, will succeed Jerome H Powell, Chair of the Board of Governors of the Federal Reserve System, as Chair of the Global Economy Meeting (GEM) and Economic Consultative Committee (ECC) from May 2026. The GEM and the ECC are among the principal meetings held at the BIS every two months.

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