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In this issue
May 25, 2023
Nineteen opposition parties vow to skip Parliament opening
Nineteen opposition parties announced on Wednesday that they would boycott the inauguration of the new Parliament building on 28 May, arguing that Prime Minister Narendra Modi’s decision to open the building instead of President Droupadi Murmu was an “assault on democracy\".
2 mins
Capital Foods sale: Nestle, ITC in last lap, deal at up to 15k cr
Food giants Nestle India Ltd and ITC Ltd have emerged as the finalists in the race for leading ingredient maker Capital Foods Pvt. Ltd, two people aware of the matter said. A deal may value the maker of Ching’s Secret and Smith & Jones food ingredients between ₹4,000 crore and ₹5,000 crore, they said.
3 mins
Govt to integrate MSME Global Mart with ONDC
The government is working on integrating the B2B platform, MSME Global Mart, into the Open Network for Digital Commerce (ONDC) to bolster small businesses, said Narayan Rane, Union minister for micro, small and medium enterprises.
4 mins
Fresh tax troubles brewing for FPIs
Tax dept bars offsetting derivative gains against equity losses
3 mins
RIL softens hiring in retail, telecom, cuts duplication
Reliance Industries Ltd is rolling out a cost-efficiency drive across its units Reliance Retail and Reliance Jio Infocomm, reducing hiring, reviewing compensation benchmarks, and firing underperformers, multiple executives from the company and the wider industry said.
2 mins
India to ship grains to Indonesia, Nepal, Senegal, Gambia
India will despatch around 1.05 million tonnes of food grains to Nepal, Indonesia, Senegal and Gambia as part of its economic diplomacy in the current financial year, waiving curbs on exports.
1 min
Govt plans ropeways, funicular railways
Road transport and highways minister Nitin Gadkari on Wednesday unveiled extensive proposals for the development of India’s transportation infrastructure, including ropeway and funicular railway projects, as well as 500 new bus terminals to support the goal of having 200,000 electric buses.
3 mins
India works on standards to soften EU carbon tax blow
Move aims to avoid disputes if EU, other countries recognize embedded carbon standards
3 mins
Jungle Ventures leads $11 mn round in ice cream co NIC
Singapore's Jungle Ventures, a backer of unicorns such as Moglix and Livspace, has led a $11 million (about 191 crore) round of funding in Pune-based ice cream brand NIC.
1 min
Cummins India beats Street in Q4 with 68% jump in net profit
Cummins India Ltd on Wednesday said standalone net profit in the March quarter jumped 68.4% to ₹318.5 crore, crossing the ₹268 crore estimated in a Bloomberg analysts’ poll. The engine maker attributed the strong numbers to robust demand, strategic pricing, and prudent cost management.
1 min
What after taming inflation beast?
The inflation fever is finally breaking. The latest round of inflation prints from key global economies is a harbinger of that. After remaining stubbornly elevated through 2022, price pressures are easing across many developed and emerging economies.
2 mins
Dixon Technologies' fortunes hinge on scale-up of mobile biz
Dixon Technologies (India) Ltd’s shares surged over 7% on Wednesday.
1 min
India to get bulk of QED's $925 mn fund
Global fintech-focused venture capital firm, QED Investors, plans to invest a substantial part of its new $925 million fund in India and Southeast Asia, a senior company official said.
1 min
Telcos petition DoT to halt new e-waste rules
Companies say rules will impact existing 2G, 4G and future 5G networks
2 mins
Myntra unveils MyFashionGPT feature
Fashion e-commerce site Myntra, which is owned by the Flipkart group, has launched a new search feature MyFashionGPT, powered by ChatGPT. The innovative feature aims to enhance the shopping experience of its customers and enable improved product discovery and drive higher engagement on its app.
1 min
GRMs of state-run refineries double on higher oil demand
Increasing demand for petroleum products and cheaper oil imports from Russia helped refineries run by public sector oil marketing companies (OMC) witness a surge in gross refining margins (GRM) during the last financial year.
2 mins
Mint Mumbai Newspaper Description:
Publisher: HT Digital Streams Ltd.
Category: Newspaper
Language: English
Frequency: Daily
The business newspaper “Mint” published by one of the leading media houses of India, Hindustan Times, in association with Wall Street Journal. It aims to connect India to the world and the world to India in terms of business, economy, regulation and policies...
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