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In a high-pitched battle within the Munjal clan, Pawan Munjal of Hero MotoCorp won a crucial interim arbitration order that allows him and his company to use the popular ‘Hero’ brand name and trademark for their electric vehicles. With this, he scores a victory over his nephew Naveen Munjal, who along with his company Hero Electric had claimed rights over the Hero brand for green vehicles. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/a8IgsDJ

Hindustan Unilever (HUL) CEO & MD Sanjiv Mehta will be appointed the president commissioner (non-executive chairman) of Unilever Indonesia, a public company. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/8neB1VM

Finance minister Nirmala Sitharaman has said that the Indian currency is better placed compared to its peers and the forex markets were experiencing global spillovers. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/PJDrfx1

The Reserve Bank of India (RBI) has said that the banking system is sound and the economy is on the path to recovery, and the threats to the country are largely from global spillovers and geopolitical tensions. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/EKLZMrt

Seven states, including Andhra Pradesh, Gujarat, Haryana, Karnataka, Punjab, Tamil Nadu and Telangana, have emerged as top achievers among states and union territories in the Business Reforms Action Plan (BRAP) assessment, covering 15 areas and 301 reform action points. Based on their performance, states and UTs have also been categorised as ‘achievers’, ‘aspirers’ and emerging business ecosystems, unlike the past, when they were ranked. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/WomUr52

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Ahead of the end of the five-year compensation period to cover "losses" of states, a clarity on whether it would be extended beyond Thursday remained elusive, although several states raised the demand at the GST Council. "If there was a solution, I would have told you," finance minister Nirmala Sitharaman said when asked about an extension. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/T1ei05W

The GST Council on Wednesday deferred a decision on taxing casinos, online games and horse racing at 28% in the wake of issues raised by Goa. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/OZrunmL

Goods and services - ranging from pre-packed unbranded food items, certain pickles and lassi, cheques, cut and polished diamonds, LED lamps, pencil sharpeners, printing, drawing and writing ink, cutlery, and hospital rooms - will face higher GST from July 18, pushing up costs. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/EBcIRqL

India will have 122 new unicorns (startups valued over $1 billion) in 2-4 years in 25 cities, according to ASK Private Wealth Hurun India Future Unicorn Index 2022. Hurun Research said India's future unicorns are currently worth $49 billion, an increase of 36% compared to last year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/cnVrwQ0

Axis Bank has said that it is confident about the quality of Citibank’s credit card portfolio and the persistency & spending were satisfactory. Speaking to newspersons here, Axis Bank head (cards & payments) Sanjeev Moghe said that he was confident that the integration would be completed within the indicated timeframe. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/zFMjGST

The US economy contracted slightly more than previously estimated in the first quarter amid a record trade deficit and supply chain disruptions, government data showed on Wednesday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/H5yjRG3

Dubai Chamber of Commerce and Industry, a liaison office, set up in Mumbai, as part of diplomatic relationships to promote trade and economic relationships between India and the UAE, will need to obtain GST registration. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/rFbp0wR

Pallonji, the chairman of Shapoorji Pallonji (SP) Group which runs a sprawling construction business dating back over 150 years, was also the single-largest shareholder (18.4%) of Tata Sons, the main investment entity of the $103-billion Tata Group. A low-profile philanthropist, he was awarded the coveted Padma Bhushan award in 2016 for contributions to Indian industry. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/KvfquIJ

Bertelsmann India Investments (BII) has raised $500 million as part of its early stage programme to back tech startups. BII plans to partner with existing top VCs and entrepreneurs to make selective Series A investments - both as lead or follow-on investments and make three-four such deals annually. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5o4VbCj

Creditors in a bankruptcy process may be required to seek independent resolution plans for different business units of a defaulter where bidders are not interested in the entire diversified business but specialised units. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/c2BpMF7

Byju's is said to have pushed back payments to Aakash Educational Services (AESL) that it acquired last year for nearly $1 billion. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5NHSXnr

The government is likely to deregulate domestic crude on Wednesday in a bid to remove a market anomaly, boost government’s tax revenue and help producers such as ONGC and Oil India Ltd get better realisation for crude produced by them, sources said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/r0Bs3UW

Income inequality in the country stayed at the same level during the pandemic and India has done quite well in terms of navigating income shocks across deciles of population, a State Bank of India (SBI) report has shown. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/nBUytGv

Maruti Suzuki chairman R C Bhargava has said the company will not hesitate to "discontinue" small cars if these become unviable due to government policy interventions which are contributing to making the vehicles expensive and out of the reach of the common man from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/QNDvaFS

Mahindra Scorpio got a contemporary makeover, with the homegrown auto major launching 'Scorpio-N', the new-gen version of the model that first hit the roads in June 2002. Scorpio changed fortunes of the then-fledgling automotive business of Mahindra & Mahindra. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7behuSD

TVS Motor is betting big on the electric vehicle segment, lining up a range of products both in two- and three-wheeler categories across multiple EV platforms. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/vWNFjbw

Markets regulator Sebi has imposed a fine of Rs 12 crore on two Sahara Group companies and some of the board members of these two entities, including Subrata Roy Sahara, for violating laws that govern fund-raising by corporates. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/U7no94L

Union road transport minister Nitin Gadkari on Monday called out the double standards of some car manufacturers who were not providing the safety features in cars sold in India that they were giving in the same models meant for exports. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/B2wpNJ3

Billionaire Gautam Adani has set the ball rolling to build a one-million-ton per annum (MTPA) copper plant in his home state of Gujarat. He has raised Rs 6,071 crore in debt to finance the project’s first phase (that is 0.5MTPA capacity). The development comes at a time when commodities magnate Anil Agarwal is looking for buyers for his copper unit in Tamil Nadu. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/4j9Tv2P

Private sector banks more than tripled their share in loans sanctioned to the micro, small and medium enterprise (MSME) sector to 69.8% in FY22 from the previous year’s levels. Earlier, private banks had almost halved their share in FY21 to 18.2% from 33.6% in FY20. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/A9v3hYj

Open Network for Digital Commerce (ONDC), the UPI-type platform that the government is pushing to democratise retail and take on the might of Amazon, Flipkart and other e-commerce giants. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ZAYgBOd

US beauty products maker Revlon Inc’s move of filing for bankruptcy has put the spotlight on the India business. The domestic operations here are controlled by Umesh Modi, brother of B K Modi (chairman of Smart Group) and K K Modi (owner of Godfrey Philips). from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/v8Nk7zD

V Krishnamurthy, 97, who is known as the "father of PSUs in India" for his successful contribution in turning around SAIL, BHEL, GAIL & Maruti into the most profit-making companies, passed away in TN on Sunday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/VgiTecY

For months, the country found paths around the penalties imposed after the Kremlin’s invasion of Ukraine. But at the end of the day on Sunday, the grace period on about $100 million of snared interest payments due May 27 expired, a deadline considered an event of default if missed. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/1y2Y08v

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India is one of the fastest-growing economies in the world and it is expected to reach USD 30 trillion in the coming 30 years, Commerce and Industry Minister Piyush Goyal said here on Sunday. If India grows at 8 per cent every year on a compounded annual growth basis, the economy will double in about nine years, he said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/wgUyFb2

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Foreign investors continue to desert Indian equity markets and pulled out close to Rs 46,000 crore so far this month following monetary policy tightening by the Reserve Bank and US Federal Reserve, high oil prices and volatile rupee. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/35NsIWt

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The cess is due to end on June 30 as part of the five-year formula devised by the Centre and the states to ensure that the latter's revenue grew 14% annually. But due to the pandemic, the burden has now been passed on to consumers up to March 2026. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/cgPzKyX

The levy of cess was to end on June 30 but the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state FMs, decided to extend it till March 2026 to repay the loans taken in the last two fiscal years to make up for the shortfall in their revenue collection. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/TBCr6FR

Adani Group chairman Gautam Adani has committed to donate Rs 60,000 crore ($7.7 billion) to social causes. Adani's corpus will be administered by the Adani Foundation, making it one of the biggest transfers to a philanthropic trust in India. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/WiUv6La

Inflationary challenges are going to continue through the remaining of the year at least, but the medium- and long-term prospects of the fast-moving consumer goods (FMCG) sector are “unarguably positive”, Hindustan Unilever (HUL) chairman Nitin Paranjpe told TOI in an exclusive interview. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ZxoeJO8

Global electronics contract manufacturing major Foxconn's top officials met Prime Minister Narendra Modi as the Taiwanese company outlined plans to expand its India operations. It is looking to enter the semiconductor business with Anil Agarwal's Vedanta Group. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/M4YOmv9

Swedish furniture retailer Ikea is shutting down its purchasing office in the Delhi NCR region, which has been operational for decades. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/GLialYk

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The government has claimed that a series of interventions in the past one year has resulted in “insulating the import of inflation” in the edible oil sector. It cited the data of how the international prices of major edible oils such as soyabean, sunflower and palmolein have gone up by more than 45% in the past one year while their domestic wholesale prices have increased by a maximum of 16%. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ya512Q8

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Thyssenkrupp and Tata Steel have lost their fight against a European Union antitrust veto of their proposed landmark joint venture, after Europe's second-highest court rejected their arguments. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Af2tvXq

Edible oil prices in the retail market have started easing with softening of international rates and the government's timely intervention, food secretary Sudhanshu Pandey said on Wednesday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/NHUw0sm

India is providing safety certification for dozens of ships managed by a subsidiary of top Russian shipping group Sovcomflot, official data showed, enabling oil exports to India and elsewhere after Western certifiers withdrew their services due to global sanctions against Moscow. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/8goTQ6J

The RBI on Tuesday gave three more months to banks and NBFCs issuing credit and debit cards to comply with certain norms including activation of cards without consent of customers. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/B9Odkn0