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Baystreet
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ZenaTech Zooms on Hegseth Directive
- ZenaTech, Inc. reacts to the new policy directive 'Unleashing U.S. Military Drone Dominance' by Secretary of Defense Pete Hegseth.
- Under the directive, ZenaTech's ZenaDrone drones are now categorized as Group 1–2 expendable assets eligible for direct purchases by field commanders.
- The directive focuses on the rapid acquisition and deployment of small, low-cost drones to enhance U.S. military capabilities on the battlefield.
- ZenaTech's stock fell 17.2% in response to the news, closing at $4.94 on Friday.
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Baystreet
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National Beverage Dips Despite Link with WNBA
- LaCroix Sparkling Water by National Beverage Corp. partners with the Dallas Wings WNBA team, showcasing its logo on warm-up jackets, shooting shirts, and through game-night activations.
- The partnership aims to enhance consumer brand recognition and loyalty by engaging with fans in the fourth largest and fast-growing U.S. metropolitan area.
- LaCroix sponsors various professional soccer and basketball teams along with men's professional soccer and hockey teams.
- National Beverage Corp. (FIZZ) shares fell by 1.5% following the announcement of the Dallas Wings partnership.
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HinduBusinessLine
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Under Armour clocks ₹500 crore revenues in FY25 in India
- Under Armour in India saw impressive growth in FY25 with revenues of ₹500 crore, marking a growth rate of over 25%.
- The premium athletic performance segment in India is focused and niche, driving stable growth that is not discount-driven.
- Underdog Athletics, the exclusive India distributor, plans to triple revenues in the next 5-6 years by gaining market share and focusing on non-discounted growth.
- Under Armour, known for athletic performance apparel and accessories, aims to continue retail expansion with a focus on premium real estate developments.
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Livebitcoinnews
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DOGE and Sol holders participate in cloud mining – earn up to $8,660 per dayv
- Investors are turning to cryptocurrencies like Dogecoin (DOGE) and Solana (SOL) to hedge against market volatility caused by Trump reigniting trade disputes.
- Due to market fluctuations, DOGE and SOL holders are turning to cloud mining through Earn Mining, reportedly earning up to $8,660 per day without physical mining machines.
- Earn Mining, founded in 2018 and based in London, offers cloud mining services with global coverage, clean energy-driven mining technology, and AI scheduling for efficiency and safety.
- Earn Mining provides advantages including sign-up rewards, professional computing power support, multi-currency options, data transparency, security measures, and various contract options for generating daily income.
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HinduBusinessLine
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Bank deposits outstrip credit growth: RBI
- Deposits of all scheduled banks in India surged by ₹3,54,532 crore, surpassing the credit growth of ₹1,69,156 crore in the latest reporting fortnight.
- The trend of deposit growth surpassing credit growth initiated in May, with figures standing at 10.1% and 9.8% respectively as of May 30.
- Money flowing back into banks due to expensive investment alternatives like equities and gold, coupled with trade uncertainties and geopolitical tensions like the Israel-Iran conflict.
- RBI's data for May 2025 indicates a decline in credit deployment across various sectors compared to the previous year, including agriculture, industry, services, and personal loans.
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Bloomberg Quint
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Religare Board Approves Rs 1,500-Crore Fundraise As Burman Family Looks At Fund Infusion
- Religare's board has approved a Rs 1,500 crore fundraise through preferential allotment, allowing the Burman family to increase their stake.
- The fundraise involves issuing 6.38 crore warrants at a discounted price of Rs 235 per warrant, convertible into equity shares within 18 months.
- Entities linked to the Burman family will contribute Rs 750 crore, with other investors like JM Financial Credit and Ashish Dhawan providing the remaining Rs 750 crore.
- The funds raised will support business expansion and new strategic initiatives, increasing the Burman family's stake in Religare to around 29.6% from 25.7%.
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HinduBusinessLine
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Mutual funds flood market with new fund offers
- Mutual funds are flooding the market with new fund offers (NFOs) amid a volatile equity market and tepid returns from IPOs.
- Recent trends show that new entrants in the asset management space are launching NFOs, especially on the passive side, linked to specific indexes without fund manager discretion.
- JioBlackRock AMC, a digital-focused joint venture, raised ₹17,800 crore through NFOs and has plans to launch eight more schemes with a minimum investment limit of ₹500, aiming to disrupt the fund management business in India.
- The Mutual Fund (MF) industry has seen significant interest from investors, with 117 NFOs raising ₹19,164 crore in the first six months of the year, highlighting sustained retail investor confidence despite market volatility and geopolitical tensions.
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Bloomberg Quint
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Net Direct Tax Collections Dip 1.34% Amid Decline in Corporate Taxes, Surge In Refunds
- India's net direct tax collection for the current fiscal year has decreased by 1.34% compared to the previous year, standing at Rs 5.63 lakh crore.
- The decline in net inflows is mainly due to a 3.81% decrease in corporate tax collections, while non-corporate tax collections remained steady.
- Gross direct tax collection, however, saw a modest growth of 3.17% year-on-year, amounting to Rs 6.65 lakh crore.
- The increase in refund outgo by 38% to Rs 1.01 lakh crore has offset gains in gross collection, impacting the net tax mop-up.
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HinduBusinessLine
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Bengal Silicon Valley to witness NTT, ST Telemedia and CtrlS Datacenters starting operations soon
- 41 companies have been allotted plots in the 250-acre tech hub in Kolkata’s New Town.
- The Bengal Silicon Valley is expected to attract ₹30,000-35,000 crore investment, creating about one lakh direct and indirect employment.
- NTT, ST Telemedia, and CtrlS Datacenters are among the companies that will soon start their operations in the tech hub.
- The process of granting plots to companies at subsidised rates is being overseen by the West Bengal Housing Infrastructure Development Corporation.
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Bloomberg Quint
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RBI Imposes Penalty On HDFC Bank, Shriram Finance
- The Reserve Bank of India has imposed a penalty of Rs 4.88 lakh on HDFC Bank for contravention of norms related to foreign investment in India while granting a term loan to a client.
- Additionally, a penalty of Rs 2.70 lakh was imposed on Shriram Finance Limited for non-compliance with certain provisions of the Reserve Bank of India's Digital Lending Directions, 2025.
- RBI's penalties were based on deficiencies in regulatory compliance and not on the validity of any transactions or agreements entered into by the entities with their customers.
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Bloomberg Quint
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China Bans Surgical Treatment Of Alzheimer’s
- China has banned the surgical treatment of Alzheimer’s disease after concerns about its safety and effectiveness.
- The procedure known as lymphatic-venous anastomosis (LVA) aimed to boost the removal of harmful brain proteins to slow the disease's progression.
- The National Health Commission found a lack of high-quality evidence supporting the safety and efficacy of this surgery for Alzheimer's treatment.
- Local health authorities have been advised to halt Alzheimer's treatment with LVA surgery until more evidence is gathered, despite the procedure's growing popularity in China.
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HinduBusinessLine
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Rabi crop prices in mandis rule around MSPs in Apr-June
- Mandi prices of rabi crops like wheat and barley were above minimum support prices (MSP) in April-June, while chana and mustard were below MSP.
- Chana and mustard sold below their MSP with chana at ₹5,596/quintal compared to the MSP of ₹5,650 and mustard at ₹5,899/quintal against the MSP of ₹5,950.
- Masur prices declined by 4.7 per cent to ₹6,384 from the MSP of ₹6,700/quintal during the same period.
- Government raised wheat production estimates for 2024-25 to a record 117.51 million tonnes, while rapeseed/mustard production is lower. Experts suggest further reforms to help farmers benefit from higher rates.
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Guardian
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Enduring confusion is the only certainty amid Trump’s latest tariff threats
- Trump's latest tariff threats caused confusion and uncertainty in the market.
- Stock markets shrugged off the threats, assuming deadlines may slide by.
- Market experts predict potential impact on US economy as tariffs take effect.
- Experts suggest ongoing uncertainty and no direct evidence of achieving economic goals.
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Bloomberg Quint
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Tesla Likely To Begin First Deliveries In India From August
- Tesla is set to open its first showroom in India in Mumbai and begin deliveries as early as next month.
- A second showroom in New Delhi is also expected to open in late July.
- Deliveries in India are anticipated to start from late August, with customers able to configure and order Tesla EVs starting next week.
- Tesla's entry into India follows a decline in global sales, with the Model Y SUVs expected to be sold at a premium due to high import duties.
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