BackMint Evening Digest: Bitcoin falls to fresh 18-month low, Govt panel on GST rate revision to meet on 17 June
Mint Evening Digest: Read top business news, equity market precursors, and economic and banking news updates from India and across the world for 15 June, 2022
PremiumMint Evening Digest
Why some petrol pumps in Madhya Pradesh, Rajasthan, Karnataka running dry
Some petrol pumps in states like Madhya Pradesh, Rajasthan and Karnataka have run dry following a sudden surge in demand at PSU outlets that followed curtailment of operations by private fuel retailers to check the heavy losses they were suffering from trying to compete with heavily under-priced rates of public sector companies. Read more
Why Amazon did not bid for IPL media rights
Manish Tiwary had only been in his new job as head of Amazon.com Inc.’s India business a couple of months when he faced a weighty decision: How aggressively should the US e-commerce giant bid for media rights to the Indian Premier League? Read more
Maharashtra sees 36% rise in daily Covid cases
As many as 4,024 more people tested positive for Covid-19 in the last 24 hours across Maharashtra, said the state health department on Wednesday. With this, the cumulative tally of the virus in the state has reached 79,19,442. Read more
Bitcoin careens toward $20,000 as crypto rout deepens
Cryptocurrencies extended their slide Wednesday, with bitcoin on the verge of falling below $20,000 for the first time since December 2020. Read more
SBI raises minimum rate for home loans to 7.55%
India’s largest lender State Bank of India (SBI) on Wednesday raised minimum rate for home loans to 7.55% from 15 June. Read more
Govt panel on GST rate revision to meet this month
The Group of Ministers on Goods and Services Tax rate rationalisation are expected to meet on 17 June, reported news agency PTI on 15 June. The panel of ministers are most likely to discuss possible tweaking in tax rates and may make changes in the tax slab. Read more
Mint Afternoon Digest
India’s trade deficit widens to $24.29 bn in May
A sharp jump in gold imports and a sequential dip in non-oil exports widened India’s merchandise trade deficit to $24.29 billion, data released by the Ministry of Commerce and Industry showed on Wednesday. Read more
Sensex ends 152 pts lower ahead of US Fed decision
Indian equity markets were volatile on Wednesday and ended in losses, ahead of the US Fed's decision on interest rates and its impact on the world's largest economy. Read more
WTO makes final push for trade deals, with eyes on defiant India
World Trade Organization members entered a tense final day of negotiations on Wednesday, with no certainty they would find consensus on any change to global trade rules and India adamant it would not yield on food, fisheries and vaccines. Read more
India looks to rains, not just rates, to cool hot inflation
As India faces a crippling surge in food and fuel prices, its policymakers will be counting mostly on this year's monsoon rains, not just interest rate hikes, to take inflationary pressure off the country's households and businesses. Read more
Cabinet approves 5G auctions
The Union Cabinet on Wednesday approved auction of 5G airwaves which will be part of the total 72097.85 MHz of spectrum that will be put on sale on July 26. Read more
Mint Morning Digest
WTO fishing subsidies: India sticks to fishing demands as WTO tries to avoid impasse
Indian Commerce Minister Piyush Goyal told a meeting of delegates Tuesday that it would not bend on demands for extensive exceptions on a 20-year negotiation to curb harmful government fishery subsidies, according to a statement on his ministry’s website. Read more
Govt asks oil PSUs to come up with monetization plan
The ministry of petroleum and natural gas has asked state-run oil and gas companies to come up with new plans for asset monetization after the original plan for monetizing their oil and gas pipelines through infrastructure investment trusts (InvITs) was shelved. Read more
Small packs for big bucks: FMCG prices up 10% on year
Every kilogram of packaged consumer goods sold in India in February-April were 10% costlier than they were a year earlier following the rise in raw material prices, researcher Kantar said on Tuesday. Read more
Sterlite Technologies in talks with telcos for open-RAN 5G
Sterlite Technologies Ltd, a maker of fibre optic cables and other telecom gear, expects to increase sales by as much as 25% to ₹7,000 crore this fiscal year, helped by ₹11,000 crore worth of orders including those from Europe and the US, managing director Ankit Agarwal said. Read more
Centre issues guidelines on 2 key tax dispute settlement schemes
The Central Board of Direct Taxes (CBDT) has issued a set of guidelines on the interplay between two key schemes meant for minimising litigation--the Vivad se Vishwas direct tax dispute settlement scheme and the mutual agreement procedure (MAP) that offers relief to multinational companies. Read more
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