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BusinessEconomic Times ·

Adani Enterprises shares surge to pre-Hindenburg levels after reports of US probe closure

Shares of Adani Enterprises reached their highest level since the January 2023 Hindenburg report. This surge followed a Bloomberg report indicating U.S. prosecutors found insufficient evidence to continue an investigation into the conglomerate. The Adani Group has consistently denied the allegations made by Hindenburg Research. The recent report and subsequent share price recovery mark a significant financial milestone for the company.

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BusinessEconomic Times ·

Mittal counters Musk's complaint about India's Starlink satellite rules

Bharti Enterprises chairman Sunil Mittal has responded to criticism from SpaceX CEO Elon Musk regarding India's regulatory approach to satellite communications. Musk had earlier expressed frustration over India's requirement for satellite service operators, like his Starlink, to form a joint venture with a local company. Mittal defended the policy, stating it is designed to safeguard national security while still allowing foreign players to enter the market. He argued that the rules do not pose a significant barrier, noting that Bharti's own satellite venture successfully partners with the UK-based Eutelsat under similar frameworks.

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BusinessEconomic Times ·

Eighth Pay Commission DA estimates released for central government staff

The Economic Times reports on estimated Dearness Allowance rates under the proposed Eighth Central Pay Commission. These specific calculations pertain to employees in pay Levels 6 through 8 within the central government structure. The estimates provide projections for the allowance, which is designed to offset inflation. The report offers insight into potential future salary adjustments for these mid-level government workers. The information is based on current proposals and is subject to the commission's final recommendations.

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BusinessEconomic Times ·

El Nino event this year could be strongest in over 70 years

The current El Nino phenomenon has intensified significantly. According to data, it could potentially develop into the most powerful event of its kind since 1950. El Nino is a climate pattern characterized by warmer-than-average sea surface temperatures in the Pacific Ocean. It influences global weather, often leading to extreme events like droughts and floods in various regions.

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BusinessEconomic Times ·

CUET-UG exam format may be simplified starting 2027

The Common University Entrance Test for undergraduates could be shorter and simpler starting in 2027. The National Testing Agency is considering changes to reduce the exam's duration and complexity. This potential redesign follows feedback from stakeholders and aims to ease the process for students. A final decision will be made after consulting with universities and other relevant bodies.

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BusinessEconomic Times ·

Several major banks raise lending rates following RBI policy move

Multiple Indian banks, including Punjab National Bank and Bank of Baroda, have increased their lending rates. This move follows the Reserve Bank of India's recent decision to raise its key policy rate by 50 basis points. The higher lending rates will make loans more expensive for both businesses and individual consumers. Banks adjust their rates in response to the central bank's monetary policy changes to manage inflation.

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BusinessEconomic Times ·

Veteran Actor Nana Patekar Expresses Last Wish

Veteran actor Nana Patekar revealed his final wish in a statement reported by The Economic Times. He expressed a desire to be remembered by his work rather than through a grand funeral. Patekar stated he prefers a simple farewell without any public procession or fanfare. The actor emphasized the importance of his artistic legacy over ceremonial honors.

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BusinessEconomic Times ·

Nokia says India has 12-18 months to prepare for 6G leadership

Nokia has stated that India has a window of 12 to 18 months to establish itself as a key player in 6G technology development. The telecom infrastructure company emphasized the need for strategic preparation and investment during this period. This assessment was reported by The Economic Times. The aim is for India to achieve a significant global position in the upcoming 6G standards and ecosystem.

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BusinessEconomic Times ·

GST Officials May Lose Arrest Powers Under New Proposal

Indian tax officials may have their powers to arrest taxpayers under GST laws revoked. This proposal is being considered by the government to ease compliance and reduce harassment fears among businesses. The move follows complaints about the aggressive use of arrest provisions for minor procedural lapses. A final decision is pending as the Central Board of Indirect Taxes and Customs evaluates the potential change.

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BusinessEconomic Times ·

India's Chandrayaan-2 mission successfully launched toward the Moon

The Indian Space Research Organisation (ISRO) launched its Chandrayaan-2 lunar mission on July 22, 2019, from the Satish Dhawan Space Centre in Sriharikota. The mission aimed to land a rover on the Moon's south pole, a previously unexplored region. This launch marked a significant milestone in India's ambitious and growing space exploration program. The successful lift-off followed a previous delay due to a technical issue discovered shortly before the original launch date.

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BusinessEconomic Times ·

Shah Advocates for Strategic Investing During Bear Markets

A news report by the Economic Times cites financial expert Shah stating that bear markets can produce the best investment opportunities. He argues that market downturns present a chance to acquire valuable assets at lower prices. This perspective encourages a long-term, strategic approach to investing rather than reacting to short-term volatility. Shah's comments are aimed at investors looking to build wealth over extended periods.

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BusinessEconomic Times ·

GST Council meeting begins, to discuss ITC, refunds, and arrest rules.

The GST Council commenced a key meeting to deliberate on significant amendments to the Goods and Services Tax regime. The agenda prominently includes potential changes to input tax credit (ITC) provisions and refund procedures. Discussions are also expected to focus on the rules and criteria for arrests under the GST law. The meeting aims to address these critical operational areas to streamline tax administration.

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BusinessEconomic Times ·

Supreme Court Seeks Government Plan to Curb Pharma Marketing Practices

The Supreme Court of India has directed the government to explain measures against alleged unethical marketing by pharmaceutical companies. This follows a petition citing a study linking such practices to irrational drug prescriptions. The court has asked the Union Health Ministry to detail existing regulations and enforcement within ten days. The matter is scheduled for a further hearing in July.

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BusinessEconomic Times ·

PM Modi Says Digital India Has Saved Citizens Over 2 Trillion Rupees

Prime Minister Narendra Modi stated that the Digital India initiative has resulted in over 2 trillion rupees in savings for Indian citizens. He made these remarks during a recent public address. Modi credited the government's push for technology adoption for preventing this money from being lost to corruption and inefficiency. The savings are attributed to the direct benefit transfer of welfare funds and the elimination of middlemen in government schemes.

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