PremiumAhead of market opening read top business news, equity market precursors, and economic and banking news updates from India and across the world for 29 June, 2022
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India considers allowing some raw sugar exports: Report
India is considering allowing mills to ship out stocks of raw sugar that have piled up in ports and warehouses, trade and government sources said on Tuesday, weeks after it imposed curbs on overseas sale of the sweetener. Read more
Asian stocks decline amid worries about gloomy economic outlook
Stocks dropped in Asia on Wednesday on renewed worries about a gloomy economic outlook as monetary policy tightens in much of the world to fight high inflation. Read more
Ambani makes way for son on Jio board
In a surprise move, Reliance Industries Ltd chairman Mukesh Ambani, 65, on Tuesday stepped down from the board of Reliance Jio Infocomm Ltd, the group’s telecom arm. His eldest son Akash, 30, replaced him as the chairman of the wireless unit of India’s most valuable company. Read more
GST Council to ‘correct’ rates, withdraw some tax exemptions
The Goods and Services Tax (GST) Council on Tuesday decided to correct several tax rates and withdraw some tax exemptions, apart from making a series of changes to the GST registration and refund process to boost revenue collections. Read more
Deadline extended for VPN, security rules
The Computer Emergency Response Team (CERT-In) has extended by about three months the deadline for complying with its controversial rules for small enterprises and virtual private network (VPN) service providers in India. Read more
Special task force to enforce plastic ban
The environment ministry said on Tuesday it has formed special task forces across all states and union territories for enforcing the planned ban on single use plastic (SUP) from next month, signalling the government’s intent to go ahead with the measure despite protests by small businesses. Read more