Business

• Indian Firms Earn 72% of Revenue from Domestic Market: Morgan Stanley
  
  Indian companies earns around 72 per cent of their revenue from the domestic market, according to a report by Morgan Stanley.
• Allow Mumbai Restaurants to Reopen, Hoteliers Appeal to Thackeray
  
  The beleaguered Hotel & Restaurant Association of Western India (HRAWI) - founded by J.R.D. Tata - on Tuesday urged Maharashtra Chief Minister Uddhav Thackeray to allow them to reopen for business in Mumbai.
• Karnataka Court Allows CCI Probe against Amazon, Flipkart
  
  Quashing the petitions of the e-tailers, the Karnataka High Court on Friday allowed the Competition Commission of India (CCI) to probe the alleged violations of the competition law by Amazon and Flipkart.
• Flipkart Partners with Telangana for 'Medicines from Sky' Project
  
  As part of the consortium, Flipkart will utilise learnings from its tech-enabled supply chain to deploy drones and enable deliveries of medical supplies.
• Indian Labour Market Now in Worst Condition since Apr-May 2020: CMIE
  
  Data published by CMIE showed that the unemployment rate, which reached 11.9 per cent in May 2021, continued to rise during early June.
• India's Agriculture Exports Jump to $ 41 Billion Despite Pandemic Disruptions
  
  India's agriculture exports (including marine and plantation products) have beaten the pandemic registering a growth of 17.34 per cent to $ 41.25 billion in 2020-21, a top commerce ministry official said on Thursday.
• 95% Realtors Fear Project Delays Due to 2ND Covid Wave, Seek Urgent Relief
  
  The survey also showed that developers feel relief measures from the government and the Reserve Bank of India (RBI) are of utmost necessity to avoid delay.
• Neglecting Inflation Leaves Global Economies Sitting on a Time Bomb
  
  Inflation will make a comeback if the Federal Reserve sticks to its current policy stance of unchanged interest rates even on the assumption that price increase will be transitory, Deutsche Bank said in a note on Monday, Business Insider reported.
• Franklin Templeton APAC Head Vivek Kudva May Appeal against SEBI Ban
  
  In a statement, Kudva said that his personal transactions in the two shut schemes were conducted in good faith and with no intent to gain unfair benefit.
• Fuel Price Rise Paused Again, Petrol & Diesel Rates Static
  
  The oil marketing companies (OMC) kept petrol and diesel prices unchanged on Tuesday across the four metro cities.
• SEBI Fines Franklin Templeton AMC, Bars Launch of New Debt Scheme for 2 Years
  
  In its order on Monday, the capital market regulator said that Franklin Templeton Mutual Fund has been found to have violated the provisions of the Mutual Funds Regulations and also certain SEBI circulars.
• Sensex, Nifty Settle at Record High Closing Levels
  
  The Indian stock market climbed to fresh highs on Monday with both the BSE Sensex and the Nifty50 on the National Stock Exchange (NSE) ending at their record closing highs.
• RBI Projects Retail Inflation for FY22 at 5.1%
  
  The Reserve Bank of India has projected India's retail inflation for the current financial year at 5.1 per cent.
• Growth Oriented: RBI Retains Rates Accommodative Rates
  
  The Reserve Bank of India has retained its key short-term lending rates along with the growth-oriented accommodative stance during the second monetary policy review of FY22.
• SEBI Raise Overseas Investment Limit for MFS to $1 Bn
  
  Mutual funds can now make overseas investments of up to $1 billion within the overall industry limit of $7 billion.
• RIL May Go Big in Its New Energy Business amid Climate Concerns
  
  As environmental concerns regain momentum across the globe and companies are setting carbon neutral targets, oil-to-telecom major Reliance Industries (RIL) plans to give a major push to its new energy and new materials business.
• Twitter 'Blue' Subscription Service Rolled Out, Users Can Undo a Typo
  
  Twitter on Thursday rolled out its first-ever subscription offering called Twitter Blue in Australia and Canada, that will give users a 30-second Undo Tweet option to erase any typo, which has been the biggest demand by its users for years.
• SEBI Bars 8 Entities in Infosys Insider Trading Case, Impounds Accounts
  
  The Securities and Exchange Board of India (SEBI) has barred eight entities, including individuals and two financial companies, for being involved in insider trading in the scrip of Infosys.
• Crude, Covid Weight Heavy on Airline Sector: Ind-Ra
  
  Rising crude oil prices, along with the impact of Covid's second wave, have substantially increased the challenges for India's airline sector, India Ratings and Research said.
• HDFC Bank Deploys Mobile ATMs across 50 Cities in India
  
  In view of restrictions imposed in various parts of the country, HDFC Bank on Tuesday announced the availability of mobile ATMs in 50 cities across India to assist customers during the lockdown.
• India's FY21 Fiscal Deficit Reaches 98.5% of Revised Target
  
  India's budgetary fiscal deficit reached 98.5 per cent of the revised 2020-21 target or 9.3 per cent of the GDP, official data showed on Monday.
• Covid Casualty: India's FY21 GDP to Down 7.3%
  
  Covid-19-induced volatility heavily dented India's economy last fiscal as its growth rate plunged (-) 7.3 per cent from a rise of 4 per cent in 2019-20.
• Travel Industry Disappointed with GST Council Failure to Rationalise Taxes for the Sector
  
  The travel Industry, one of worst affected sectors during the pandemic, is disappointed as the government has so far not come up with a specific economic relief package for it.
• Reliance Jio Moves NCLT against Reliance Infratel COC
  
  Reliance Jio has moved the NCLT against the Committee of Creditors (CoC) of Reliance Infratel Ltd (RITL).
• Retailers Witness Massive Sales De-growth: RAI Survey
  
  Region-wise, western India was the most impacted in April with a contraction of 72 per cent, followed by 45 per cent in the north. South and eastern India witnessed a contraction of 40 per cent and 38 per cent, respectively, in retail sales last month.

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