Latest Developments

Asia
The Economic Times

NFO Watch: 5 mutual funds and 2 SIFs open for subscription this week. Check details

Around five new mutual funds and two SIFs will open for subscription this week (June 29 to July 3). Fund houses launch new schemes to expand and complete their product portfolios. Here is a detailed breakup (Source: ACE MF). Prism Hybrid Long-Short Fund, a SIF from JioBlackRock Mutual Fund, will open on June 29 and close on July 13. The minimum investment amount is Rs 10 lakh. Summit Equity Long-Short Fund, a SIF from Invesco Mutual Fund, will open on July 2 and close on July 16. The minimum investment amount is Rs 10 lakh. Choice Overnight Fund, an overnight fund from Choice Mutual Fund, will open on July 1 and close on July 3. The minimum investment amount is Rs 1,000. Motilal Oswal BSE Midcap 150 Momentum 30 Index Fund, an index fund from Motilal Oswal Mutual Fund, will open on July 3 and close on July 17. The minimum investment amount is Rs 500.

NFO Watch: 5 mutual funds and 2 SIFs open for subscription this week. Check details
Europe
BBC Business

Asia stock markets slide as tech shares slump

Image source, AFP via Getty ImagesByOsmond ChiaBusiness reporterPublished4 hours agoAsian stock markets fell sharply on Friday, led by a sell-off in technology firms as investors worried that recent jumps in share prices had gone too far. Trading on South Korea's Kospi was temporarily halted as an 8% fall in the benchmark index triggered a mechanism intended to curb panic selling. The index closed 5.8% lower. It comes after shares in Apple fell sharply on Thursday after it announced it would raise the prices of its iPads and MacBooks due to the soaring cost of computer chips. Some investors are also concerned about the hundreds of billions of dollars being spent this year by big tech firms to build artificial intelligence (AI) infrastructure. Traders are reassessing the valuations of tech stocks, while some are taking profits after a rally in recent months, said senior partner David Makaryan from the Alpha Pacific Group, an investment firm. "The long term investment case for AI remains compelling, but investors are becoming far more selective about which companies can justify the valuations the market has assigned to them," Makaryan said. Elsewhere in Asia, Japan's Nikkei 225 closed more than 4% lower as shares in technology investment giant SoftBank fell by 12.5%. Other major indexes in the region, including in Taiwan and mainland China, were also sharply lower. Friday's 20-minute halt on the Kospi marked the third time the so-called circuit breaker has been triggered this week and the fifth such event this year. On Thursday in the US, Apple shares dropped by 6% - its biggest one-day fall in more than a year. Microsoft shares also fell after it announced higher prices for its Xbox gaming consoles, citing higher costs of components. The moves have raised concerns that rising component prices could hit sales of devices, which in turn may slow demand for computer chips.

Asia stock markets slide as tech shares slump
Asia
The Hindu BusinessLine

Frustration grows in Venezuela as earthquake death toll reaches 1,430

Tensions flared Saturday as desperation grew in Venezuela's state of La Guaira as rescuers and civilians searched for earthquake survivors and the death toll rose sharply to 1,430. Venezuela's government said families reported at least 68,900 people missing, three days after the one-two punch of 7.2 and 7.5 magnitude earthquakes devastated the South American nation. Venezuelans looking for loved ones and neighbors used shovels, heavy equipment, ropes and bare hands atop mounds of toppled concrete throughout La Guaira, one of the hardest-hit states. They were joined by a growing number of international rescue teams who began to climb through the rubble, offering a small glint of hope to anguished families. Tensions peaked over what many Venezuelans viewed as an inadequate response by the government, whose soldiers, firefighters, police and military cadets were evidently underprepared to respond to the scope of the tragedy. Many felt every minute ticking away as they ran out of time to rescue people alive. Frustration was amplified by efforts to project the image of a robust state response. “There's a pile of bodies over there from last night. Newborn babies," said Mileidy Romero, who was among those searching in the seaside town of Caraballeada. "At 8 p.m. (yesterday) there were people alive down there, and they haven't bothered to rescue them. We've located several bodies, and they haven't helped us recover them either. What are they waiting for?” Aid agencies consider the first 48 to 72 hours as crucial for retrieving people alive, though that can be extended if they have access to food and water. Venezuelan officials said 17 flights carrying more than 1,600 rescue team members had touched down by Saturday. Tension mounts during rescue efforts Acting President Delcy Rodríguez said on state television that more than 14,000 members of the military and police are patrolling the area, where access is now blocked and special permits are required to enter. But many in disaster zones said they had seen little of their government. Some people climbed the remnants of buildings and cried out names, hoping for any proof of life. Dust coated coastal communities. In punishing heat, more people wore masks as the stench of decomposition spread. In other parts of La Guaira, teams unloaded stacks of bodies from white trucks onto the ground of a dirt hospital parking lot, where they were to be identified. With the absence of hard hats, rescuers and civilians used motorcycle helmets as they searched piles of debris that were once people's belongings: Eddie Murphy and Nemo DVDs, a kitchen sink, mattresses and shoes. Some, frustrated by the government's response, blocked an excavator from leaving the site of a collapse and pulled the operator from its cabin shortly after state workers took selfies in front of flattened buildings and left without helping. The ruling party's officials often take selfies to show participation in government-related events. A member of the crowd, Yeison Marcano, said those searching had received some assistance from an investigations unit but neither police nor the National Guard helped. “They came to eat arepas and take pictures to make it look like they were working," Marcano said. "They didn't even get their uniforms dirty like we have. We've been here for three days." A minute later, a man tried to grab a firefighter, shouting and cursing. “Silence! Silence!” rescuers shouted as they tried to confirm whether someone was trapped alive.

Frustration grows in Venezuela as earthquake death toll reaches 1,430
Asia
The Hindu BusinessLine

SBI ends land dispute with Telangana govt, to withdraw case

State Bank of India (SBI) and the Telangana government have settled the legal dispute over Raidurgam land in Hyderabad with the bank agreeing to withdraw its case filed against the government and accept allocation of an alternative site. The State government has also agreed to offer an additional plot in the upcoming Future City for a data centre to be set up by the bank. Senior officials of SBI and a team of officials from the state government led by Chief Secretary Ramakrishna Rao held talks on the matter on Saturday and entered into an agreement. Earlier this month, SBI secured a stay from the Telangana High Court on the auction of the land by the Telangana Industrial Infrastructure Corporation (TGIIC) in Raidurgam here which had earlier allotted the property to the bank. This led to a confrontation between the State Government which examined the option of withdrawing its key financial transactions from SBI. An upset Chief Minister A Revanth Reddy took up the matter with the Finance Ministry and top leadership of SBI, according to sources. 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. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

SBI ends land dispute with Telangana govt, to withdraw case
Asia
The Hindu BusinessLine

AP govt allots land to SAF One India SPKompact for SAF production facility in Kakinada

Andhra Pradesh Government has allotted 45 acres of land to SAF One India SPKompact Pvt Ltd, a subsidiary of SAF One Energy Management Limited, Dubai, in Kakinada for establishing a Sustainable Aviation Fuel (SAF) Production Facility on long-term lease with investment ₹1,835 crore. The proposed facility is expected to generate 2,500 directed and indirect jobs. The State Investment Promotion Board (SIPB) recommended the proposal for allotment of approximately 45 acres of identified Andhra Pradesh Maritime Board (APMB) land at Kakinada to SAF One India SPKompact for establishment of a Sustainable Aviation Fuel (SAF) production facility, in accordance with the APMB Land Allotment Guidelines, 2026. Subsequently, on Saturday the State Government approved the allotment of land and execution of a long-term lease agreement by APMB in favour of the company for a period of 30 years, with lease rentals and other applicable charges levied as per the prevailing norms. The allotment on an “as-is-where-is” basis, subject to the company obtaining all requisite statutory approvals, clearances, and compliances from the competent authorities, according to the order. 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. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

AP govt allots land to SAF One India SPKompact for SAF production facility in Kakinada
Asia
The Hindu BusinessLine

AP govt to issue bar licences at airports, except Tirupati

Andhra Pradesh government has issued an order on Saturday providing for the issuance of bar licences to the airports in the State. Following a proposal, the Group of Ministers had reviewed the comparative inter-State position covering the States of Maharashtra, Telangana, Karnataka, and Delhi T3, regarding operation of bar licences at airports, including the applicable licence fee structure, business hours, serving points and counters, etc. The Group of Ministers gave recommendations, based on which, the Director, Excise & Prohibition, submitted proposals for grant of bar licences to airports (except Tirupati Airport) along with justification and requested to issue guidelines. “After careful examination of the matter, the government has formulated the guidelines for grant of excise licences for airports (except Tirupati Airport),” the government order said. Further, it is decided to make amendments to AP Excise (Grant of Licence of Selling by Bar and Conditions of Licence) Rules 2025 to implement the policy guidelines issued in this regard, the GO added. 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. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

AP govt to issue bar licences at airports, except Tirupati
Asia
The Hindu BusinessLine

India’s agristack moment: Building digital backbone of agriculture

In February 2026, the Government of Maharashtra disbursed over ₹14,000 crore in disaster relief for Kharif crop losses to 89 lakh farmers in just five days. The following month, in March 2026, the Chhattisgarh government successfully transacted MSP-based paddy procurement, covering over 32 lakh farmers in a single season. A few years ago, the sheer scale and velocity of such exercises would have been unthinkable in a sector traditionally defined by fragmentation - whether of land records, beneficiary data, or administrative workflows. Today, these milestones represent a powerful proof point for the effectiveness of the robust Digital Public Infrastructure (DPI) rewriting the playbook for 21st-century Indian agriculture -AgriStack. This transformation follows the exact blueprint of the Unified Payments Interface (UPI) revolution. Just as UPI decoupled banking from physical branches by building an open, public protocol, AgriStack is transforming India’s disconnected agri-economic landscape into an integrated digital ecosystem. The system connects three open, foundational registries onto one digital platform: · The Farmers’ Registry: A single, verified digital identity for every farmer. It is connected to their verified farmland plot records. · The Crop Sown Registry: A dynamic registry that accurately captures and maps exactly what crops are being grown and harvested each season. · Geo-Referenced Village Maps: A comprehensive database providing spatial data and precise boundary mapping for agricultural land, linking geographic realities directly to land ownership. Just like UPI made financial transactions instant and effortless, AgriStack is making it easier for farmers to get the support they need, right when they need it. Consequently, the impact of the platform will be significant in all aspects of a farmers’ business – from sowing crops to accessing financial aid to market linkages. Bridging the gap in agricultural credit through transparency: Historically, small and marginal farmers have faced a significant credit gap from Indian banking and financial institutions because securing a formal loan was plagued by administrative delay, collateral verification costs, and paperwork. The advent of AgriStack bridges the trust gap by linking the farmer registry to RBI’s Unified Lending Interface (ULI), thus providing a secure conduit for lenders to access a farmer’s consolidated data instantly. The real-time data clarity has not only collapsed transaction timelines from weeks to hours but also provided RBI the confidence to facilitate better financial assistance to farmers. For instance, the credit limit of collateral-free credit has been increased to ₹2 lakh per borrower under the Kisan Credit Card scheme. Verifying farmer claims in real time through traceability: Before the advent of Agristack, farmer credit was disbursed based on self-reported data, leading to misallocated funds or multiple loans taken out on the same piece of land. To address the issue, the Crop Sown Registry, powered by automated Digital Crop Surveys (DCS), gives lenders real-time, tamper-proof data at different stages of cultivation. The registry maintains a historical, plot-level record of key details, such as when, where, and what crops are planted in each cropping season. Banks can match loan amounts to exact crop acreage, lowering risks and preventing loan stacking, thus drastically lowering their risks. The government targets to cover all 30 crore farm plots in 604 districts in the country by the Kharif season 2026. Enabling trust through a single source of truth: For decades, rural data i.e. crop and land records were filled out by guesswork away from the field. By mapping paper records onto precise GPS coordinates of geo-referenced village maps, AgriStack establishes a geo-tagged digital fence around every farm plot. A surveyor cannot log a crop or upload a photo unless their live location physically matches the plot’s coordinates. By doing so, the platform has eliminated the scope for proxy reporting and data fabrication. To date, 5.4 lakh villages out of the country’s 6.75 lakh have been fully geo-referenced.

India’s agristack moment: Building digital backbone of agriculture
Asia
The Hindu BusinessLine

Strides Pharma sells majority stake in arm Pivot Path for ₹100 cr

Strides Pharma Science Ltd on Saturday announced divestment of majority stake in its wholly-owned arm Pivot Path for ₹100 crore to a consortium of investors led by Ascent Capital, along with co-investor Vintage. The board of directors of the company, at its meeting held on June 27, 2026, has approved a strategic investment by a consortium led by Ascent Capital, along with co-investor Vintage Classic, in its wholly owned subsidiary, Pivot Path Pvt Ltd (Pivot Path), Strides Pharma Science Ltd , said in a regulatory filing. The proposed transaction comprises the sale of the majority stake by Strides to Ascent Capital and Vintage Classic for an aggregate consideration of ₹100 crore and the primary infusion of ₹50 crore into Pivot Path by Ascent Capital to accelerate the next phase of growth, it added. Strides will receive ₹75 crore at initial closing and ₹25 crore on the first anniversary of closing, it added. After the transaction, Strides will hold a 19.95 per cent stake in Pivot Path, while investors will hold 65.05 per cent with ESOP Pool at 15 per cent, the filing said. In a separate filing, Strides said the transaction values Pivot Path at ₹230 crore on a post-money basis. Pivot Path originated within Arco Lab Pvt Ltd, Strides' Global Capability Centre (GCC), where it developed capabilities across life sciences consulting, digital transformation, quality and compliance, and technology-enabled operational services, it said. "As the business enters its next phase, we believe this is the right time to bring in a strategic investment partner with the expertise and capital to accelerate its growth," Badree Komandur, MD & Group CEO of Strides, said. This transaction unlocks value for Strides, provides Pivot Path with the resources to scale independently, and allows Strides to retain meaningful participation in its future success, he added. Ascent Capital Managing Director & Founder Raja Kumar said, "Pivot Path brings deep domain expertise across the core, non-discretionary segments of the pharmaceutical industry, capabilities that have been rigorously honed within the Strides stable." As an Independent entity, Pivot Path is exceptionally well-positioned to combine the power of technology and Agentic-AI with its 400-plus subject matter experts in building purpose -built solutions that enable global customers to manage their compliance, digital transformation, and drug safety requirements with greater speed, precision, cost-effectiveness and confidence, he added. 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. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Strides Pharma sells majority stake in arm Pivot Path for ₹100 cr
Europe
The Guardian

Here’s what to do if your StubHub World Cup resale ticket is canceled

Many World Cup fans who bought resold tickets on StubHub were notified days or hours before the match that their tickets did not exist. Photograph: NurPhoto/Getty ImagesView image in fullscreenMany World Cup fans who bought resold tickets on StubHub were notified days or hours before the match that their tickets did not exist. Photograph: NurPhoto/Getty ImagesConsumedWorld Cup 2026Here’s what to do if your StubHub World Cup resale ticket is canceledWorld Cup StubHub ticket mess shows how weak consumer protections are in the US, but there are steps fans can take A growing number of World Cup fans who thought they had bought tickets to matches on the ticket reseller StubHub were notified with just days or hours to spare that their tickets did not exist. Horror stories about stranded families, ruined once-in-a-lifetime trips, thousands of dollars squandered, and hang-ups on StubHub’s customer service line are flooding social media and local news. It’s the latest sign of the powerlessness many consumers feel in the US, say advocates who estimate thousands of World Cup fans may have been affected. “The system is deeply broken and flawed at all levels,” said Brian Hess, the executive director of the Sports Fans Coalition, a non-profit that advocates for fans’ rights. “Consumers should not have to fight like this,” he said. StubHub has a history of failing to deliver promised tickets, claimed Bradford Clements, an attorney and former Texas state prosecutor who has more than 150 clients, both buyers and sellers, who say they were ripped off or misled by StubHub and are owed $2.4m. “This happens over and over” – not just at World Cup matches, Clements said. StubHub often says the seller pulled out of the ticket swap at the last minute, but that’s frequently not the case, he said. A StubHub spokesperson said that fans should “contact us directly and ask for World Cup specialist support”. Many of the World Cup issues had to do with a faulty new ticketing app that Fifa introduced just before the tournament, StubHub said. “The issues fans have experienced at this World Cup are transfer problems, not ticket problems,” the spokesperson said. Fifa’s app “has experienced significant performance issues that have affected ticket transfers across all resale platforms”, which are outside StubHub’s control. Fifa said that Fifa.com/tickets, the company’s primary ticket sales and the official resale platform, “is the official ticket sales channel for the Fifa World Cup 2026. Fifa can guarantee the validity and delivery of tickets purchased through its official platforms.” The Guardian spoke to consumer advocates, lawyers, company representatives and analysts about what thwarted ticket holders could do to get their money back or get to the game, and what reform is on the horizon. Here’s what they suggest: Fans who want to get to a game should be “persistent with customer service and demand that they get tickets”, said Hess.

Here’s what to do if your StubHub World Cup resale ticket is canceled