Govt's plan for infra push, bad news for banks and more: Mint Morning Digest
Premium- Read top business and latest news updates from India and across the world for 11 July, 2022
Mint Morning Digest
₹8k cr roads may be moved to InvITs over next 6 months
The government plans to monetize an additional 500km of completed highway projects worth ₹8,000 crore through the infrastructure investment trust, or InvIT, route over the next six months. Read more
Hardening yields to hurt income growth of banks
Reeling under treasury losses due to hardening bond yields, banks are expected to report weaker profit growth in the three months to June, analysts said. Read more
Asia shares open cautiously as investors brace for US inflation data, earnings season
Asian shares started cautiously on Monday as investors braced for a U.S. inflation report that could force another super-sized hike in interest rates, and the start of an earnings season where profits could be under pressure. Read more
Hydrogen enters green power play
Round-the-clock power fuelled solely by renewable energy may be close at hand, with the Union government planning pilot projects to operate solar and wind power bundled with power from green hydrogen. Read more
Duty deferment scrapped for solar cos
The Central Board of Indirect Taxes and Customs (CBIC) has revoked the concessions it had granted under the bonded warehouse scheme—which had allowed solar developers to defer payment of the steep import duties on solar cells and modules that took effect on 1 April—in the wake of blatant abuse of the scheme. Read more
Heavy rainfall in Telangana, Gujarat, Karnataka; schools, colleges shut
As heavy rainfall lashes Telangana, the state's chief minister K Chandrashekhar Rao has declared a three-day holiday for educational institutions from today, July 11. Read more