Delhi-NCR rejoices as heavy rainfall ends long dry spell, Heavy showers in THESE states

Delhi-NCR and other parts of India are expected to receive relief from the intense heatwave as light showers and heavy rain are forecasted. The IMD has issued a yellow alert for thunderstorms, strong winds, and heavy rain. The southwest monsoon is also expected to extend its coverage over remaining portions of Rajasthan, Madhya Pradesh, Gujarat, and the Arabian Sea.

The Indian government's incentives have attracted electronics and semiconductor manufacturers to invest Rs 3 trillion in capital expenditure over 5 years. The potential market of $500 billion by 2030 has led to companies setting up shop for domestic and export demand. Major companies like Foxconn and Vedanta Group have also invested due to the production-linked incentive scheme.

The government is set to introduce a new concessional corporate tax rate in the upcoming Budget for new manufacturing units, similar to the previous 15% rate which ended in 2024. This move aims to boost manufacturing and attract foreign investment. Experts recommend a longer window and clearer eligibility conditions for maximum impact.

Samsung is now accepting pre-reservations for the Galaxy Z Fold 6 and Galaxy Z Flip 6 in India, with a token amount of Rs 1,999. The pre-reservation window is open from June 26 to July 10, and early adopters will receive benefits worth up to Rs 8,999, including an e-voucher. The smartphones will be globally launched on July 10.

IndiGo has been fined for Rs 1 lakh by the Bureau of Immigration for visa violations. The parent company, InterGlobe Aviation, stated that the fine will not impact the airline's finances or operations and is considering an appeal. However, the company will continue its business as usual.

South Africa dominated in both batting and bowling to secure their spot in the tournament finals with a comfortable victory over Afghanistan. Their disciplined approach and clinical performance dispelled doubts about their ability to handle pressure. Afghanistan struggled against South Africa's relentless bowling attack, leading to a disappointing end to their campaign.

SEBI has made changes to the Prohibition of Insider Trading regulations, allowing insiders to trade in company shares with reduced cooling-off period, price limits of 20%, and the option to cancel the trading plan. Insiders still need approval but have more flexibility in setting prices and can opt out under certain circumstances.

Hyundai has revealed the Inster, a micro electric SUV, set to launch in South Korea this summer and later in other markets. It boasts a spacious interior and sustainable materials, along with advanced technology like a 10.25-inch touchscreen and Level 2 ADAS. The Inster comes in two variants: Standard and Long Range, with unique features.

SBI successfully raises Rs 10,000 crore through its fifth infrastructure bond issuance with a 7.36% coupon rate. The issue was oversubscribed by four times, receiving bids of Rs 19,884 crore from 143 diverse investors. The bank aims to use the funds for infrastructure and affordable housing, while also developing a long-term bond curve and encouraging other investments.

Indian-owned IMFL company, Allied Blenders & Distillers, is closing its IPO on June 27. The issue includes 35.6 million fresh shares and 17.8 million shares from promoters and shareholders, raising Rs 1,500 crore. The price band is Rs 267 to Rs 281 per share, with a minimum lot size of 53 shares for retail investors. Shares will be allotted on June 28.

MSME Day 2024: As India and the world celebrate the MSME Day on June 27 recognising the role played by over 6 crore MSME units in the country’s GDP, exports, job creation and more, the MSME Ministry is organising the Udyami Bharat programme on Thursday.

The Ministry of Corporate Affairs has clarified that the proceedings against Byju's, an edtech company, are still ongoing under the Companies Act. Last year, an inspection was ordered due to developments, including an auditor's resignation. Reports of Byju's being cleared of financial fraud are false. The MCA also requested an inspection of Think & Learn, operating as By.

The 7th Pay Commission has led to changes in the CGHS, with the government initially making it compulsory for beneficiaries to link their CGHS ID with ABHA ID. However, this has been put on hold, but beneficiaries can still link their IDs if desired. The CGHS scheme offers healthcare services.

Global citizens are demanding a wealth tax on the super-rich, with 68% supporting the idea in a recent survey. The issue has been debated for two decades and will be discussed by G20 finance ministers next month. In India, 74% support higher taxes for the wealthy. The proposal aims to establish a global minimum tax of 2% on billionaires to address inequality and fund climate initiatives.

Bharti Airtel surprised everyone by acquiring the maximum airwaves worth Rs 6,857 crore in one of the shortest spectrum auctions that concluded in less than one-and-a-half days. This was also the first time since 2010 that the government's proceeds from the auction were the lowest at Rs 11,340.8 crore. Reliance Jio, expected to bid the most, came in third.

Dengue cases in Karnataka have risen rapidly, with over 5000 reported cases and 1000 in Bengaluru alone in just 20 days. The Chief Minister has directed officials to take action to contain the virus and ensure treatment availability. The city municipal corporation will conduct a larval survey and procure testing kits. Dengue is a viral illness with symptoms such as fever and joint pain.

Kerala is facing heavy rainfall and disruptions in school operations and transport due to heavy rainfall. The IMD has issued alerts for several districts. Professional exams will continue as planned. An orange alert has been issued for Wayanad and Kannur. The IMD has predicted heavy rainfall in the coming days as the Monsoon advances.

President Droupadi Murmu emphasized the significance of the Union Budget and the need for expediting reforms in her address to the joint sitting of Parliament. She also congratulated the new MPs and urged them to fulfill the aspirations of the people of India through their representation.

Foreign investors have poured in $8 billion in India's bond market in the first half of 2024 ahead of the inclusion of government securities into JPMorgan Chase & Co's emerging market index. Experts predict that the domestic bond market will attract $30 billion inflows over the next 10 months. The inclusion of government bonds could potentially bring in $20-25 billion in global flows.

Bajaj Auto opens first overseas plant in Brazil to produce Dominar series and expand to other models, strengthening presence in Latin and South America. With a production capacity of 20,000 units per year, this move showcases Bajaj's commitment to Brazil and global growth.

GMDC and GUVNL have signed an MOU to secure long-term energy supply in Gujarat, where demand has been increasing at a rate of 6%. The deal involves replacing old units and building new ones, with a focus on coal and lignite-based power plants. GMDC has been granted lignite mines in Gujarat and two large commercial mines in Odisha.

WhatsApp, owned by Meta, will no longer support over 35 smartphone models by the end of the year. This is to ensure optimal performance and security. Users will be prompted to upgrade their devices to continue using the messaging app and can transfer chat histories. This emphasises the need to keep hardware updated for compatibility with essential apps.

Newly elected Saharanpur MP Imran Masood praised the Yogi Adityanath-led government in UP for ensuring uninterrupted power supply during the intense heat spell. The Congress leader said he believes in practicing politics of optimism and will raise issues of his constituency as a Lok Sabha MP. Masood was previously booked for controversial remarks against Prime Minister Narendra Modi.

"Monsoon season brings the threat of flooding to major cities, especially for apartment buildings with basement parking. If your car is submerged, follow these five steps to rescue it: do not open doors or start the car, call a technician, change all fluids, clean the interior, and assess the car's condition. While it may seem like the end, proper steps can save your car from flood damage."

Infosys chairman Nandan Nilekani revealed that the company has 225 generative AI projects in the works for clients, with talent being crucial for executing complex transformations. He believes enterprise AI adoption will be gradual, but Infosys is prepared. They are also using their platform and acquisitions to improve in areas like automotive.

Pune records first Zika virus cases this monsoon as doctor and daughter test positive. Doctor hospitalized and samples sent for analysis. Health department initiates surveillance and advises precautions, including avoiding mosquito bites and safe sex for pregnant women. No treatment or vaccine available for Zika virus.

Samajwadi Party MP RK Chaudhary stirred a political row after he demanded that the Sengol, a historic sceptre that is placed in the new building of the Parliament, be replaced with the Constitution in the Lok Sabha, inviting a backlash from the BJP and other NDA allies.

Yamaha introduces the new Y-AMT system, joining BMW and KTM in eliminating the need for a clutch lever and gear shifter. The system offers three modes, including manual, 'D' for relaxed riding, and 'D+' for a more exhilarating experience. Although the models to feature Y-AMT have not been disclosed, it is expected to be available on various motorcycles, including sports bikes.

UltraTech Cement, India's largest cement company, has approved the acquisition of 23% equity stake in India Cements for Rs 1885 crore. The purchase of 7.06 crore shares at Rs 267 per share will be completed in one month. This move will increase UltraTech's capacity and help them achieve their expansion plans of Rs 32,400 crore.

EU accuses Microsoft of violating antitrust rules by bundling Teams with Office products. Last year, Microsoft unbundled Teams from Microsoft 365 to address concerns, but EU disagrees. Microsoft's collaboration between Teams and Office products gives them an unfair advantage over competitors. EU investigation remains open and Microsoft could face fines up to 10% of global revenue.

GT Force has released their first electric motorcycle, the GT Texa, which costs Rs 1,19,555 and can reach a top speed of 80 kmph. It has a 3.5 kWh Lithium-Ion battery that can travel 120-130 km and can be fully charged in 4-5 hours with a micro charger. The bike can carry up to 180 kg and includes various features.

Vodafone Idea partners with Samsung for 4G and 5G network deployment, successfully trialed in Chennai, Karnataka, and Bihar. This will help meet 5G rollout obligations and improve network management. 5G rollout to begin in six months, discussions ongoing with vendors.

KEC International Ltd, a company under RPG Group, has received new orders worth Rs 1,025 crores for its T&D and Cables businesses. These orders include projects in India, Africa, and Americas. The company's MD & CEO, Vimal Kejriwal, expressed satisfaction with the continuous inflow of orders, which have significantly increased their order book.

The Covid-19 pandemic has driven the adoption of digital technologies in healthcare, resulting in the rise of connected health. Life sciences companies are investing in smart apps and tools for better diagnosis and monitoring in areas like cardiology, oncology, and mental health.