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Mint Afternoon Digest

Centre makes health insurance plan mandatory for surrogate mothers

The government has issued fresh surrogacy rules, making it mandatory for couples who wish to become parents through surrogacy to buy health insurance plans for surrogate mothers. Read more

The Biocon bribery case is a disaster for public health and Indian pharma

The 4% fall in Biocon’s stock price in early trading on Wednesday is just the tip of the iceberg. Unless the issue is thoroughly investigated, the guilty brought to book and India’s already iffy pharmaceutical regulatory system thoroughly overhauled, India’s position, as in Prime Minister Narendra Modi’s words “the pharmacy of the world", is at stake. Read more

India unlikely to offer tax waivers to fast track global bond index inclusion

India is opposed to providing any capital gains tax waivers to overseas debt investors even if it delays its goal of getting its bonds included in global bond indexes, two sources familiar with the matter said. Read more

Thyssenkrupp, Tata lose fight against EU veto of joint venture

Thyssenkrupp and Tata Steel lost their fight on Wednesday against a European Union antitrust veto of their proposed landmark joint venture three years ago, after Europe's second-highest court rejected their arguments. Read more

Sri Lanka PM Wickremesinghe says economy 'has collapsed', unable to buy oil

Sri Lanka’s prime minister says its debt-laden economy has “collapsed" after months of shortages of food, fuel and electricity, and the South Asian island nation cannot even purchase imported oil. Read more

CBI books former DHFL officials in India's biggest bank fraud case

In what is said to be India's biggest bank fraud case, CBI has registered a fresh case against Kapil Wadhawan and Dheeraj Wadhawan of DHFL for allegedly cheating a consortium of 17 banks led by the Union Bank of India to the tune of 34,615 crore. Read more

IKEA India to source more products locally to tackle rising inflation

IKEA India plans to source more products locally to combat rising inflation, as the Swedish furniture group looks to sell more to the country's burgeoning middle class with the launch of its latest store on Wednesday. Read more

Rupee hits new lows vs US dollar, analysts see more weakness

Indian rupee today fell to fresh record low of 78.28 against the US dollar amid broad weakness in emerging market currencies. Read more

Mint Morning Digest

Cooking oil cools as firms pass on fall in input costs

Retail prices of branded edible oil are inching down as packaged consumer goods firms pass on the gains from import duty cuts and cooling global prices, in a relief for millions of households scarred by rising prices. While Adani Wilmar, Patanjali, Mother Dairy and Emami Agrotech have already cut prices, others are expected to introduce promotions to win back consumers lost to cheaper products. (Read more)

National highways to be GIS mapped by July

The government is going all out to complete GIS mapping of national highways for better planning, execution and monitoring of the road network and timely completion of projects.

Geographic Information System (GIS) technology is expected to come to the aid of road construction agencies as it would provide detailed information on alignments and any obstruction in the path of highways. (Read more)

NSDL in talks with investment banks for 4,500 cr IPO

National Securities Depository Ltd (NSDL), India’s first and biggest depository services company, has initiated talks with investment banks for an initial public offering worth 4,500 crore, two people aware of the development said.

NSDL was set up in 1996 after the enactment of the Depositories Act. As of 31 May, it had over 27.6 million investor accounts, with a demat custody value of 297.55 trillion. (Read more)

Some services companies see inflation cooling down in May

While retail inflation is at record levels with most products reporting double-digit rise, the services sector saw a decline in inflation rates in May compared to the beginning of the year.

Consumer price index data showed most services such as beauticians, private tutors, coaching centres, hotels, photography, internet, cable TV charges, rickshaw fare, conveyance, medical and hospital charges, have reported a moderation in inflation rates during May compared to January. (Read more)

Elon Musk's $44 billion Twitter deal gets unanimous board endorsement. Read here

Twitter's board has recommended unanimously that shareholders approve the proposed $44 billion sale of the company to billionaire and Tesla CEO Elon Musk, according to a regulatory filing Tuesday.

Elon Musk reiterated his desire to move forward with the acquisition last week during a virtual meeting with Twitter employees, though shares of Twitter remain far below his offering price, signaling considerable doubt that it will happen. (Read more)

 

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