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Bloomberg Quint
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Devendra Fadnavis Says Work On Offshore Vadhvan Airport Likely To Commence Next Year
- Maharashtra Chief Minister Devendra Fadnavis announced that work on the offshore Vadhvan Airport, the country's first, is expected to begin next year.
- The government has already appointed an agency to prepare a detailed project report (DPR) for the airport.
- Fadnavis mentioned that the Vadhvan Airport will be the third airport in the Mumbai Metropolitan Region.
- The chief minister highlighted the importance of airport development in attracting investment and promoting economic growth in the region.
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Bloomberg Quint
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DDA Approves Reforms To Revive Delhi's Commercial Real Estate Sector
- The Delhi Development Authority has approved reforms to revitalize Delhi's commercial real estate sector, including reducing amalgamation charges for commercial properties and lowering multiplication factors for property auctions.
- The reforms aim to make Delhi more attractive for investment, exploit underutilized commercial plots, and align property valuations with market realities to enhance competitiveness within the National Capital Region.
- In addition to commercial policy changes, DDA approved a shift in land use in Narela to create an educational hub and sports complex. They also announced a premium housing scheme offering residential flats in prime locations.
- The DDA's decisions are expected to trigger a new wave of commercial development in Delhi, attract more investment, and accelerate planned growth in Narela sub-city.
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Bloomberg Quint
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Prada Keen To Launch Limited-Edition 'Kolhapuri-Inspired' Collection: MACCIA
- Prada plans to launch a limited-edition Kolhapuri-inspired collection in collaboration with local artisans.
- The collection will be made in India and a technical team from Prada will visit India to identify local supply chain partners.
- Prada has committed to including 'Kolhapuri' in all publications and meeting geographical indication requirements before commercializing the collection.
- MACCIA has requested Prada to expand the collaboration to include other heritage crafts beyond Kolhapuri chappal.
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Eu-Startups
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Founders first: Venture.Community’s new co-fund reshapes early-stage investment access
- Venture.Community, a co-operative of entrepreneurs and Founders, has launched its first co-fund aimed at Pre-Seed and Seed-stage startups, part of a €115 million investment mission.
- The co-fund offers more than just capital, providing guidance, mentorship, and connections to commercial networks, aiming to reshape early-stage investment access.
- Venture.Community's accelerator program has seen success with six startups participating, spanning industries like manufacturing, HealthTech, and social impact.
- The Investor Hub at the Advanced Manufacturing Park in South Yorkshire aims to connect Founders with mentors and provide direct access to funding, addressing the region's need for early-stage capital and startup education.
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TechBullion
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How Market Momentum and Burn Sync Made $FUN Soar, Proving Once Again Timing Is Everything
- FUNToken's recent surge in price showcases the power of strategic timing in crypto.
- Strategically timed deflation and ecosystem activation led to a rally validating the project's roadmap.
- A strategic burn event and market momentum boosted FUNToken's value, demonstrating sustainable growth.
- The project's roadmap, user engagement, and deflation model contributed to market success.
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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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Startup Story
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Flipkart Ventures Launches Leap Ahead 4.0 to Back Early-Stage Startups in AI, Drones, and Quick Commerce
- Flipkart Ventures has launched Flipkart Leap Ahead 4.0, an accelerator program to support early-stage startups in AI-native technologies, drone solutions, and quick commerce enablement.
- The program offers equity investments up to $500,000 and mentorship from Flipkart's leadership and venture capitalists, focusing on India's tech and logistics landscape.
- Since its launch, Flipkart Leap Ahead has nurtured startups like Dopplr and Livwell, helping them raise follow-on capital and scale with Flipkart's support.
- The initiative showcases Flipkart's commitment to fostering innovation in India's digital economy by targeting cutting-edge sectors to unlock new solutions for commerce, logistics, and customer engagement.
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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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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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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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Bloomberg Quint
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349
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Air India Plane Crash: AAIB's Preliminary Report Expected 'Very Soon', Says Civil Aviation Minister Naidu
- The Aircraft Accident Investigation Bureau's (AAIB) preliminary investigation report on the fatal Air India plane crash in Ahmedabad last month is expected soon, according to Civil Aviation Minister K Rammohan Naidu.
- The Air India Boeing 787-8 aircraft crashed into a medical hostel complex after takeoff from Ahmedabad, resulting in 260 fatalities, with one survivor.
- Under International Civil Aviation Organization norms, AAIB can submit a preliminary report within 30 days of the accident.
- The crash was significant as it marked the first fatal accident resulting in hull loss for the Boeing 787 Dreamliner.
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Bloomberg Quint
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Central Support To Meghalaya Increased 231% In A Decade: Sitharaman
- Union Finance Minister Nirmala Sitharaman announced a 23% increase in central financial support to Meghalaya over the past 10 years.
- Between 2014 and 2024, Meghalaya received Rs 89,335 crore in tax devolution and Grants-in-Aid, a significant increase from the Rs 26,973 crore received between 2004 and 2014.
- Tax devolution alone increased by 572%, jumping from Rs 7,273 crore to Rs 48,883 crore in the last decade. Grants-in-Aid also rose notably from Rs 19,700 crore to Rs 40,452 crore.
- The financial assistance has led to the transformation of Meghalaya's development landscape, empowering the state to undertake infrastructure projects, enhance connectivity, and improve public services in education and healthcare.
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Bloomberg Quint
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Earthquake Tremors Felt Again In Delhi-NCR
- Earthquake tremors were felt in Delhi and the adjoining NCR region, originating from the Jhajjar region in Haryana with an intensity of 3.7 on the Richter scale.
- This occurred a day after a 4.4 magnitude earthquake struck the same area, causing tremors felt across several districts.
- Areas like Rohtak, Gurugram, Panipat, Hisar, and Meerut were also affected by the recent seismic activities on July 10th.
- The news article is not eligible for a web story as it lacks details or updates beyond the occurrence of the earthquake tremors in Delhi-NCR.
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Medium
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Africa doesn’t need more Decks, It needs more Builders.
- The current system in Africa rewards shiny storytelling over gritty execution in the startup ecosystem.
- Most global investors looking at Africa tend to invest in founders who fit a Western mold, favoring polished slides and accents over genuine traction.
- African founders often face challenges like limited infrastructure and technical talent, yet they are expected to prioritize pitch storytelling over building sustainable businesses.
- To foster genuine entrepreneurship in Africa, there is a need to shift investment practices to support the region's true builders and for founders to focus on purposeful execution over superficial presentation.
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