patna: In line with its planning, Chirag Paswan-led Lok Janshakti Party (LJP) hurts Nitish Kumar-headed Janata Dal (United) in a number of seats, bringing down its tally even below 50 seats by the time of going to print.

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International flights: The Centre started the ‘Vande Bharat Mission’ on May 6 to help those stranded due to the novel coronavirus pandemic reach their destinations via international repatriation flights.

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As per talks, the platform being considered for launch in December 2020 or January 2021 in India, could be a joint venture between Tata and Walmart Walmart is in talks with Tata Group for a large share in the latter’s proposed retail ‘super app’ in a deal worth $25 billion.

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The rupee strengthened by as much as 24 paise to 73.66 against the US dollar, tracking gains in domestic equities. At the Interbank Forex market, the domestic unit opened at 73.76 against the US dollar, then gained further ground and touched 73.66 at day's high. On Thursday, the rupee dived 32 paise to touch a near one-month low of 73.90 against the US dollar.

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Global investment firm KKR will invest Rs 5,500 crore into the retail business of Mukesh Ambani, the second deal for India's richest man in the arm as he looks to widen his lead over Amazon.
KKR's cheque values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore.

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Tata Sons has offered to buy out Shapoorji Pallonji group's stake in the holding company to help the group raise money to pay its debt. The Supreme Court has also barred the Mistry group from pledging or selling any Tata shares until October 28, when it starts hearing final arguments in the case.


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Farmers take to the streets over farm Bills

They block rail, road traffic; accuse Centre of implementing ‘anti-farmer’ policies

Tata Sons offers to buy out Shapoorji Pallonji Group's stake in shares dispute

Tata Sons has offered to buy out Shapoorji Pallonji group's stake in the holding company to help the group raise money to pay its debt. The Supreme Court has also barred the Mistry group from pledging or selling any Tata shares until October 28, when it starts hearing final arguments in the case.


Government plans Metrolite for rapid transport in Tier-II, Tier-III cities

The government is set to bring in a new mass transport system-LRT-Metrolite-for Tier-II and Tier-III cities. Metrolite will be dedicated rail corridors in cities and towns with tracks on surface instead of elevated or underground stretches as is the case with Metro rail corridors across the country. 

Mahindra reports 3% decline in total sales at 45,421 units in May

Auto major Mahindra and Mahindra Saturday reported 3 per cent decline in total sales at 45,421 units in May. The company had sold 46,848 units in the same month last year, M&M said in a statement. 

It was discussed in a meeting of Mutual Fund Advisory Committee members held recently with SEBI chief

Following the recent crisis in debt mutual funds, capital and commodity markets regulator Securities and Exchange Board of India is considering a proposal to make fund managers more accountable-by linking their remuneration to the performance of the schemes managed by them. Sources told Moneycontrol that the proposal was discussed at the recent meeting of the Mutual Fund Advisory Committee, at which SEBI chairman Ajay Tyagi was present. An industry source who attended the meeting said a sub-committee would be set up to frame guidelines. Asset Management Companies  are grumbling at what they see as micromanagement by the regulator. “If SEBI implements such norms, good fund managers may not want to stay in this business,” said a mutual fund executive on condition of anonymity. Mutual Fund CEOs get anywhere between Rs 7-30 crore in annual remuneration.

Punjab surpasses Centre’s target, set for record produce

Riding on a bumper crop, Punjab has procured 130.15 lakh tonnes of wheat this season, the highest in 20 years, surpassing the targets set by the state and the central governments. The feat becomes all the stupendous considering the fact that this year, there was lesser area under wheat crop and the yield in at least 50 per cent of the districts was marred by the unseasonal rain and hailstorms.

China proposes ASEAN+3 mega free trade agreement sans India, Australia and NZ

India could be out of the mega trade deal being negotiated between 16 countries, including the ASEAN and China, if a proposal made by Beijing for a free trade pact excluding New Delhi is taken seriously by other members. “China has started pushing for a free trade pact between ASEAN + 3 (which includes the ten-member ASEAN, China, Japan and South Korea) at the East Asia Summit. This would effectively mean that among the 16 countries negotiating the Regional Comprehensive Economic Partnership (RCEP), all except India, Australia and New Zealand would get included in the proposed pact,” an official told BusinessLine.

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