Latest Developments

Asia
The Hindu BusinessLine

British brewer Lion returns to India after 60 years, enters Delhi market with premium beer

British brewer Lion brewery co has re-entered the Indian market after an absence of more than six decades, launching its premium beer portfolio in Delhi as it seeks to tap into the country's fast-growing premium beer segment. The company has partnered with Copperdrop Spirits as its exclusive importer and distributor in India, with plans to expand distribution to Haryana and Uttar Pradesh in the next phase. The brewer, which was founded in London in 1836, said it has historical links with India and was among early producers and exporters of India Pale Ale (IPA), a beer style originally developed for export to the country during the British era. "India is not just a new market for us, it's part of Lion brewery co's story," said Will Julius, Managing Director of Lion brewery co. Lion brewery co is looking at the premium side of the Indian beer market, which is growing at an accelerated pace of over 40 per cent annually, driven by rising urban disposable incomes, a shift toward milder or craft options, and a massive surge in microbreweries. "To bring Lion back after more than half a century, and to do so at a time when the premium beer segment is growing so rapidly in India, is incredibly exciting," he added. The company has debuted in India with its Island Lager and Pale Ale, currently available in the Delhi market in 330 ml bottles. According to Lion brewery, further formats are expected. Lion brewery co, which was restored by a group of friends in 2018, India entry is enabled through the partnership with Copperdrop Spirits, which is promoted by the founder of premium beer brand Bad Monkey Beer, the statement said. "We see strong potential for premium international craft brands in India. Lion brewery co combines heritage, authenticity, and quality -- all of which resonate strongly with today's Indian consumer," said Rohan Khare of Copperdrop Spirits. India's beer market is undergoing a significant premiumisation shift, with the overall market estimated at around USD 4.5 billion in 2023 and projected to grow at a CAGR of 8-10 per cent through 2028, according to IMARC Group data cited in the statement. The premium segment is growing faster than the overall market, around 42-45 per cent, it said. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

British brewer Lion returns to India after 60 years, enters Delhi market with premium beer
Asia
The Hindu BusinessLine

Govt to introduce Bill to replace 125-year-old law on presenting bank records as evidence in courts

The government is replacing a colonial-era law with one that seeks to preserve access to banking evidence while protecting banks from unnecessary legal proceedings, shifting the emphasis to better-targeted judicial oversight rather than unrestricted access to banking records. To this end, Finance Minister Nirmala Sitharaman will introduce the Bankers’ Books Evidence Bill, 2026 in Parliament on Monday, replacing the Bankers’ Books Evidence Act, 1891, which has governed the production of banking records in courts for over 125 years. According to the List of Business for August 3, the proposed legislation seeks to provide “for law relating to evidence with respect to bankers’ books and to align it with contemporary digital banking practices.” The Bill comes against the backdrop of the rapid expansion of digital banking and the sharp rise in cyber-enabled financial frauds, including online scams and so-called “digital arrest” cases. It seeks to modernise the legal framework governing banking evidence to reflect the realities of electronic record-keeping and digital financial transactions. A key feature of the proposed law is the introduction of the concept of “special cause”, under which a court may, by a written order, compel a bank officer to produce bankers’ books or appear as a witness in proceedings where the bank itself is not a party. The provision raises the threshold for summoning bank officials, ensuring they are not routinely drawn into litigation merely because they hold customer records. The Bill defines “special cause” to include circumstances where the accuracy or authenticity of an entry in the bankers’ books is in doubt, where an event suggests that the bank’s normal record-keeping process has been disrupted, or where the bank has failed to comply with a legal order. In other words, courts will continue to have access to banking records in genuine cases, but only after recording specific reasons for doing so. The legislation also significantly expands the definition of “bankers’ books” to include records maintained in physical, electronic, digital, virtual, cloud-based or any other form, creating a technology-neutral legal framework that can accommodate future advances in banking. To facilitate the use of electronic evidence, the Bill provides for standardised certification formats, permits authentication through manual, digital or electronic signatures, and expressly recognises the admissibility of electronic banking records. Such records may be produced before courts in either physical or electronic form. Another enabling provision empowers the Central Government to extend the applicability of the legislation to other entities or classes of entities operating in the financial sector, subject to prescribed conditions. This gives the law flexibility to cover new categories of regulated financial institutions as the sector evolves. The existing Act was enacted in 1891 to allow certified copies of bank records to be admitted as evidence without requiring production of original ledgers. While the legislation served the banking system for more than a century, it was drafted at a time when records were maintained almost entirely on paper. “With the advancement of technology and growth of digital banking, bank records are increasingly created, stored and maintained using contemporary technology. It has, therefore, become necessary to modernise and strengthen the existing legal framework to meet the requirements of the present banking system,” the Statement of Objects and Reasons of the Bill says. The proposed legislation thus seeks to balance two objectives: preserving investigators’ and courts’ access to banking evidence in legitimate cases while reducing unnecessary legal burdens on banks and creating a legal framework suited to India’s digital financial ecosystem.

Govt to introduce Bill to replace 125-year-old law on presenting bank records as evidence in courts
Asia
The Hindu BusinessLine

Apartment sales in Bengaluru rise 16% in Jan-Jun to 35K units, highest among top 7 cities: JLL

Bengaluru witnessed sales of 35,017 apartments during the January-June period this year, highest among seven major cities in the country, on better demand as well as higher fresh supply, according to JLL. Real estate consultant JLL India data showed that the country’s residential market demonstrated resilience in the first half of this year, with sales volume increasing 3 per cent to 1,38,382 units across seven major cities compared to the same period last year. Mumbai includes Mumbai city, Mumbai suburbs, Thane city, and Navi Mumbai, while Delhi-NCR includes Delhi, Gurugram, Noida, Greater Noida, Ghaziabad, Faridabad and Sohna. The data includes only apartments. Rowhouses, villas and plotted developments are excluded from the analysis. JLL noted that Bengaluru led in sales of apartments during the January-June period, with a 16 per cent year-on-year increase in sales to 35,017 units, demonstrating the strength of these markets despite broader headwinds. The fresh supply of flats also rose 41 per cent to 48,748 units. Siva Krishnan, Senior Managing Director (Chennai and Coimbatore), Head- Residential Services, India at JLL noted that the fundamentals of the housing market remain compelling as sustained urbanisation, infrastructure development and rising aspirations continue to drive homebuying decisions. "What is particularly encouraging is the shift towards quality and quantum, with the Rs 1-3 crore segment surging 58 per cent year-on-year (YoY), demonstrating that buyers are increasingly willing to invest in well-located, premium developments that offer long-term value," he added. Commenting on the Bengaluru market data, Shivam Agarwal, VP - Strategy of realty firm Sattva Group, noted that Bengaluru's sustained residential growth reflects the strength of its economic fundamentals and enduring end-user demand. "Today’s homebuyers are looking beyond ownership to developments that offer quality, connectivity and a superior living experience, reinforcing the growing demand for thoughtfully planned, future-ready communities," he added. Madhusudhan G, CMD of Sumadhura Group, said this sustained demand highlights the confidence homebuyers continue to place in the city, driven by its strong employment ecosystem, expanding Global Capability Centres (GCCs), infrastructure improvements and long-term growth prospects. "The market is witnessing a clear shift towards premium, experience-led housing, where lifestyle has become as important as location," he added. Sunil Pareek, Executive Director of Assetz Property Group said the Bengaluru city is moving beyond its traditional identity as an IT-services hub, emerging as a mature, diversified tech economy supported by GCCs, AI, deep-tech and other high-value sectors. "Demand is also becoming more segmented. While affordability and connectivity remain key for a section of buyers, senior GCC professionals, product leaders and tech entrepreneurs are increasingly seeking larger, more experiential homes with a stronger emphasis on sustainability, smart-home features and community infrastructure," he said.

Apartment sales in Bengaluru rise 16% in Jan-Jun to 35K units, highest among top 7 cities: JLL
Asia
The Hindu BusinessLine

Lodha Developers to monetise 150 acres at data centre park in MMR for ₹10,000 cr: MD

Realty firm Lodha Developers Ltd is planning to sell 150 acre land in the next 3-4 years at its data centre park in Mumbai region for nearly ₹10,000 crore as part of its asset monetisation strategy, a top company official said. In a conference call with market analysts, Lodha Developers Managing Director Abhishek Lodha highlighted that land monetisation is not an exceptional item for this company, rather it is a planned recurring pillar of business. He said the company now holds about 660 acres at its data centre park in the Mumbai Metropolitan Region (MMR). "Of this, the first phase of 370 acres, we have already monetised about 130 acres, and we intend to further monetise about 150 acres over the next 3-4 years, which itself will generate close to ₹10,000 crore of sales," Abhishek said, as per the transcript of the interaction with the analysts. The company is expecting an average of ₹60 crore per acre from the land sale at data centre park at Pallava in MMR. The green data centre park has about 3 gigs of power availability at about US0.08 per unit, 5 fiber optic routes, 5 transmission lines and approval under the Maharashtra Green Integrated Data centre policy, the MD stated. "The data centre is largely self-funded from land sales inside the same park. It does not add to group leverage, and it does not compete with our DevCo (housing business) for capital in any significant manner," Abhishek asserted. Lodha Developers, one of the leading real estate firms in the country, has a presence in the MMR, Pune and Bengaluru markets. It is planning to launch its first housing project in Delhi-NCR this fiscal year. Lodha Developers builds housing, commercial projects (offices, malls, warehousing & industrial parks and data centres). Talking about the financial and operational metrics, Abhishek told analysts to assess the company on the basis of "accounting profit after tax, the numbers that are audited that flow into book value and against which return on equity is actually computed." Alongside this, he noted that operating cash flow is also important because profit and cash together are the true reflection of any business. Lodha Developers is targeting 20 per cent annual growth in net profit this fiscal year to ₹4,100 crore on better demand for its housing properties, strong execution of projects and land monetisation in data centre parks. The company has achieved best-ever quarterly profit during the April-June period of the 2026-27 fiscal year.

Lodha Developers to monetise 150 acres at data centre park in MMR for ₹10,000 cr: MD
North America
CNBC Finance

To keep growing, incoming Best Buy CEO says he first wants to go smaller

Best Buy is at a critical juncture as the consumer electronics retailer aims to revitalize its performance under incoming CEO Jason Bonfig, who spoke exclusively with CNBC about his strategy for the company. The company has been struggling with slumping sales over the past few years, which it has attributed to lower consumer confidence, less tech innovation and a slower housing market. In an effort to refresh its products, improve the customer experience and drive more sales, the retailer announced Bonfig will succeed current CEO Corie Barry this fall. As he prepares to take the helm, Bonfig has said he's focused on four key pillars: advancing Best Buy as a retail and technology company, improving its reach, enhancing the customer experience and focusing on being a human-powered company. Bonfig has also said he's looking into ways to capitalize on the artificial intelligence boom and Best Buy's spot in that next chapter. This week, Best Buy opened two new stores, one in Jonesboro, Arkansas, and one in Cape Cod, Massachusetts, which Bonfig told CNBC illustrates his strategy as he prioritizes returning the company to long-term and sustainable growth. "What we're finding is that there are markets that we just can't be in with a traditional size Best Buy store, but they're markets that absolutely make sense for Best Buy from a reach perspective," Bonfig said. To lean into those markets, the company is opening new small-format stores, ranging from 12,000 to 15,000 square feet, compared to its medium-format stores, which range from 20,000 to 25,000 square feet. Some of its largest stores, including its flagship location in New York City, exceed 40,000 square feet. The new small stores tap into Bonfig's priority of expanding the company's reach, he said. "We also know that when we put a store close to a customer, it doesn't just change the customers' behavior in the frequency of the visits of the store … it also changes their behavior digitally as well," Bonfig said. When Best Buy joins a new, smaller community, he said, the company has found more customers physically go to a store for the first time, but they also use the app and digital channels as well. The Jonesboro store marks Best Buy's return to the town after a tornado destroyed its previous location. "It's a great example of a vibrant market, a place where customers are interested in our brand, but not a market that could support a 30,000- or 35,000-square-foot store," Bonfig said. "An 18,000-square-foot store allows us to have the best of all of our different categories and meet the needs at that particular location." The second opening, in Cape Cod, is slightly larger than Best Buy's normal medium-format stores, coming in at 28,000 square feet, but Bonfig said it's another example of finding "the right size store in the right location in the right node." He added that Best Buy Canada, which can often do things faster than its U.S. counterpart, has been after the small-format store for "an extended period of time" and has seen success with locations as small as 7,000 square feet.

To keep growing, incoming Best Buy CEO says he first wants to go smaller
Asia
The Economic Times

These 9 equity mutual funds delivered over 10% returns in July. Did you invest in any of them?

Top nine equity mutual funds delivered over 10% returns in July. There were nearly 610 equity mutual funds during the period, and the top nine funds were from the technology sector. Here is the detailed breakup (Source: ACE MF). HDFC Technology Fund, the topper on the list and a technology sector fund, delivered a return of 16.91% in July. Aditya Birla SL Digital India Fund, a technology sector fund, delivered a return of 15.08% in July. Kotak Technology Fund, ICICI Prudential Technology Fund, SBI Technology Opportunities Fund and Tata Digital India Fund delivered returns of 13.84%, 13.83%, 13.73% and 13.30%, respectively, in July 2026. Motilal Oswal Digital India Fund, WOC Digital Bharat Fund and Franklin India Technology Fund delivered returns of 10.93%, 10.59% and 10.05%, respectively, in July. Jasmeet Singh, Executive Director at Anand Rathi Wealth Limited, told ETMutualFunds that whether this outperformance will continue over the next 12 to 18 months is difficult to predict, as technology remains a cyclical sector and consistently identifying market tops and bottoms is rarely possible.The long-term outlook for the IT sector remains positive. However, near-term performance will depend on earnings delivery and global demand. Rather than taking concentrated sectoral exposure after a sharp rally, investors can consider diversified equity funds that already have meaningful exposure to quality IT companies, offering participation in the sector with lower portfolio risk. Nearly 442 funds generated returns ranging from 0.03% to 9.91% in July. One fund generated no return, while around 158 funds posted negative returns, with eight delivering double-digit losses. These double-digit losses were recorded by international funds. Of the 158 funds with negative returns, the first 23 were international funds.

These 9 equity mutual funds delivered over 10% returns in July. Did you invest in any of them?
North America
Yahoo Finance

J-Star Holding Co., Ltd Regains Compliance with Nasdaq Minimum Bid Price Requirement

TAICHUNG CITY, Taiwan, July 31, 2026 (GLOBE NEWSWIRE) -- J-Star Holding Co., Ltd. (Nasdaq: YMAT) (“J-Star” or the “Company”), today announced that it has received a written decision from the Nasdaq Hearings Panel determining that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2), the minimum bid price requirement for continued listing on The Nasdaq Capital Market. The Panel's decision follows a hearing held on July 21, 2026, during which the Company's management presented i

J-Star Holding Co., Ltd Regains Compliance with Nasdaq Minimum Bid Price Requirement
Asia-Pacific
The Straits Times

Japan to announce Tokyo, Washington took joint action on yen, sources say

Market sources earlier reported rounds of yen-buying in the market by both nations, the first such joint intervention since 2011. TOKYO – Japanese Finance Minister Satsuki Katayama will announce on Aug 3 that Tokyo and Washington took joint action in the currency market to arrest the yen’s slide to 40-year lows, two Japanese government officials told Reuters. Katayama is likely to stress the two countries’ determination to combat what they consider excessive yen declines, said the sources familiar with the matter, on condition of anonymity due to the sensitivity of the matter. One source, asked if Katayama would announce “joint action”, said yes, adding, “the operation is still ongoing.” The Ministry of Finance (MOF) could not immediately be reached for comment on Aug 2. US Treasury officials did not immediately respond to requests for comment. The expected announcement follows what market sources say were rounds of yen-buying in the market by the Japanese and US authorities, the first such joint intervention since 2011, seeking to boost the Japanese currency from its lowest levels against the dollar since 1986. The Japanese government bought yen for dollars in New York trading hours on July 30, a market source told Reuters, with Bank of Japan (BOJ) data suggesting it sold as much as US$58.97 billion (S$75.6 billion) to support the yen. Tokyo’s initial intervention came hours before the BOJ decided on July 31 to keep monetary policy steady while signalling a strong chance it would raise interest rates soon. A widening rate differential with the US, where the Federal Reserve has dramatically shifted to a more hawkish stance, has been a key factor in the dollar’s rise against the yen. Shortly after BOJ Governor Kazuo Ueda held a press conference on the central bank’s decision, the yen spiked in what markets suspect may have been another bout of yen-buying intervention by Tokyo. “Going forward, as the official responsible for currency policy, I would like to respond in close coordination with monetary policy,” Katayama’s top currency diplomat, Atsushi Mimura, told reporters after the yen’s spike on July 31, suggesting the MOF and BOJ were working hand in hand to combat the weak yen. Also on July 31, the US Treasury informed a number of banks that it might intervene in the yen market and that they should “stand ready for future action”, a source familiar with the matter told Reuters.

Japan to announce Tokyo, Washington took joint action on yen, sources say
Europe
BBC Business

Interest rates expected to be held again by Bank of England

Image source, Getty ImagesByKevin PeacheyCost of living correspondentPublished4 hours agoUK interest rates are expected to be held at 3.75% for a fifth time by Bank of England policymakers. Uncertainty over the the global political and economic outlook, and the impact on prices, means the Bank is likely to continue its cautious approach to rates. Its Monetary Policy Committee (MPC) meets eight times a year, with its decisions heavily influencing how much borrowers are charged for loans and mortgages, as well as the returns available to savers. The benchmark Bank rate is at its lowest level since February 2023, but few analysts predict any short-term changes. The committee of five women and four men will announce their latest interest rate decision at 12:00 BST, with a hold the widespread expectation. The Bank rate is the MPC's primary tool for maintaining the rate of rising prices - inflation - at a target of 2%. The latest official figures show inflation in the UK was 2.6% in the year to June, down slightly on the previous month but still above its 2.3% target. The inflation rate is likely to go up in July, as millions of households in Scotland, England and Wales feel the impact of a 13% rise in domestic energy prices. The increase was the result of the impact of the Iran war on wholesale energy prices. Conflict in the Gulf, and uncertainty over the chances of a lasting truce, hang over the MPC's meeting and decision this month and in the months ahead. Many analysts expect interest rates to be unchanged in the foreseeable future, with the possibility of the next change being a rise. "A new government finding its feet, and the situation in the Middle East becoming increasingly uncertain, mean that a hold on [the] base rate decision would be a welcome dose of stability," said Katie Horne, from savings platform Flagstone.

Interest rates expected to be held again by Bank of England