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Bloomberg Quint
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FastAgs Toll Collections Jump Nearly 20% In June Quarter: NETC data
- Toll collections through FASTags increased by 19.6% to Rs 20,681.87 crore in the first quarter of 2025-26, based on NETC data.
- The number of toll users also rose by 16.2% to 1,173 million in the April-June quarter compared to the previous year.
- NHAI raised toll charges by 4-5% on highway sections across India starting April 1, 2025.
- The government plans to introduce a Rs 3,000 FASTag-based annual pass for private vehicles from August 15 to enhance highway travel convenience.
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Bloomberg Quint
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EU Chief Demands China Address Trade Imbalance As Tensions Flare
- European Commission President Ursula von der Leyen demanded China address trade imbalance and market distortions affecting European businesses.
- China's export controls on rare earth magnets have hit EU industries, leading to strained EU-China relations amid tariff disputes.
- The EU imposed tariffs on electric vehicles and excluded Chinese firms from public contracts, escalating tensions with Beijing.
- Tensions have increased ahead of a scheduled summit between the EU and China due to lack of progress in addressing trade disparities and economic issues.
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Bloomberg Quint
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365
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Commercial Ship Under Continuous Houthi Attack In Red Sea
- Yemen’s Houthi militants continued to attack a commercial ship in the Red Sea, causing significant damage and loss of propulsion.
- The attacked vessel, Eternity C, was carrying grains to Somalia for the World Food Programme and was targeted because it had previously visited Israeli ports.
- The attacks by the Houthis on commercial ships have escalated, leading to fears among crews navigating the Red Sea due to the ongoing conflict in the region.
- The continuous attacks on commercial ships by the Houthis may impact shipping patterns, increase insurance costs, and deter vessels from using the Suez Canal.
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Bloomberg Quint
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148
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No Directions Given To Close Inactive PM Jan Dhan Accounts: Finance Ministry
- The Finance Ministry denies giving advisory to close inactive Jan Dhan accounts as recent media reports had suggested.
- The Department of Financial Services clarified that it did not instruct banks to shut down inactive PM Jan Dhan Yojana accounts.
- A national campaign was launched to enhance adoption of financial-inclusion initiatives like PMJDY, where banks are expected to conduct re-KYC procedures for due accounts and encourage reactivation.
- Despite media reports citing a high number of inactive accounts, the department emphasized that no instructions have been issued for closure, with the focus remaining on bringing more people into the financial mainstream.
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Bloomberg Quint
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263
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German Exports Fall More Than Expected As US Shipments Sink
- German exports fell more than expected in May, with a 1.4% decline from the previous month, worse than the -0.5% median estimate.
- Imports in Germany also sank, including a more than 10% drop in sales from the US.
- The risk of tariffs and the strengthening euro are causing concerns for German and European exporters.
- Germany, vulnerable to US tariffs, faces a potential recession, but plans to boost defense and infrastructure offer optimism amid mixed economic indicators.
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Bloomberg Quint
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842
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Adani Electricity's Fight Against Power Theft Yields Results In FY25
- Adani Electricity's fight against power theft in fiscal year 2024-25 resulted in a reduction of aggregate technical and commercial losses to 4.70% from 5.47% in the previous year.
- During FY25, Adani Electricity conducted 37,424 mass raids, a 41% increase compared to the previous year, leading to the recovery of 60.9 tonnes of illegal wires and assessment of theft amounting to Rs 44.92 crore.
- The company registered 1,166 FIRs against power theft perpetrators, showcasing intensified vigilance with increases in FIRs, odd-timing raids, and power theft cases booked.
- Adani Electricity's actions in uncovering significant power theft cases, collaborating with authorities, and emphasizing infrastructure impacts demonstrate their commitment to combat power theft and reduce AT&C losses.
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Bloomberg Quint
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Nifty Top Gainers, Losers On July 8: Kotak Mahindra, Eternal To Titan, Bajaj Auto
- The NSE Nifty 50 closed 0.24% higher at 25,522.50, while the BSE Sensex ended 0.32% up at 83,712.
- Top gainers on the NSE Nifty 50 included Kotak Mahindra Bank, Eternal Ltd., Asian Paints, NTPC, and Grasim Industries, while Titan Co., Dr. Reddy's Laboratories, Bajaj Auto, Cipla, and Trent Ltd. were among the top losers.
- The stock market showed mixed sectoral indices with Nifty Realty emerging as the top gainer, while Nifty Pharma experienced significant declines. Benchmarks continued their upward trend for the third consecutive day, outperforming the broader markets.
- Midcap and smallcap segments displayed a lack of positive momentum, with midcaps falling for the third day and smallcaps ending lower for the second day. The varied performance across different market segments reflects investors' navigation of the current economic landscape.
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Bloomberg Quint
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965
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JSW Steel Q1 Update: Crude Steel Production At 7.26 Million Tonnes
- JSW Steel reported 7.26 million tonnes of consolidated crude-steel production for Q1 of FY 2026, marking a 5% decline from the previous quarter but a 14% increase year-on-year.
- Indian operations of JSW Steel produced 7.02 million tonnes of crude steel, showing a 5% decrease from the previous quarter but a 15% increase from the same period last year.
- The capacity utilization at Indian operations, excluding trial production, stood at 87% for the first quarter.
- Despite the annual increase in production, JSW Steel reported a quarterly decline in output due to planned maintenance shutdowns of blast furnaces, which have now resumed to optimum capacity levels.
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Bloomberg Quint
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Move Over Kanjeevarams! At Nearly Rs 1 Lakh Crore, India's Silk Capital Is Now Its Smartphone Capital
- Kanchipuram, known for its silk sarees, has emerged as India's top smartphone exporter, surpassing even Karnataka's Kolar.
- In the last fiscal year, Kanchipuram exported smartphones valued at nearly Rs 1 lakh crore, while Kolar stood at around Rs 0.43 lakh crore.
- This shift signifies Kanchipuram's economic evolution from traditional silk sarees to modern technology, reflecting the changing times.
- India's smartphone exports have seen a significant boost, making the country the second largest smartphone producer globally, supported by PLI schemes.
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Bloomberg Quint
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357
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Pixel 6a Overheating: Check If You're Eligible For Free Battery As Google Rolls Out Software Update Today
- Google is rolling out a mandatory automatic software update to Android 16 for Pixel 6a to address battery overheating issues.
- The update activates battery management functions to reduce battery capacity and charging performance after 400 charge cycles on impacted devices.
- Not all Pixel 6a devices are affected by the decrease in battery capacity; Google provides free battery replacement or other support for eligible users.
- Users can check Google's support page to see if their Pixel 6a qualifies for free repair/replacement, cash payment, or hardware discount credit.
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SiliconCanals
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Backed by Swiss govt, SECO Startup Fund relaunches with €5.34M to fuel impact startups in CEE and emerging economies
- The SECO Startup Fund (SSF) has relaunched with €5.34 million to provide debt financing to post-revenue startups in Central & Eastern Europe, Africa, Asia, and Latin America, supported by Switzerland’s State Secretariat for Economic Affairs.
- Managed by iGravity and Seedstars, the fund aims to support inclusive and climate-friendly economic growth by focusing on businesses aligned with Switzerland's global priorities.
- SSF offers flexible loans to established businesses in emerging markets, with a focus on decent work, climate-smart solutions, and access to goods and services, aiming to fill the gap in traditional financing.
- With CHF 44M disbursed since inception, the fund has backed over 120 companies, contributing to sustainable growth and national development goals in emerging markets.
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Bloomberg Quint
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314
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Commission Models Not Enough To Determine Market Share, Says Uber
- Uber India believes that commission models are not the sole determinant of market share for cab aggregators in the country.
- The President of Uber India and South Asia, Prabhjeet Singh, highlighted the importance of fair, transparent, and sustainable models for drivers irrespective of commission structures.
- Uber aims to be 'competition aware' rather than 'competition obsessed' and emphasizes the need for a level playing field in terms of legal and taxation structures.
- Uber recently introduced new features in India like 'Price Lock', 'Wait & Save', 'Simple Mode For Seniors', and Airport Priority Access, recognizing India as one of its fastest-growing markets with over 14 lakh drivers across 125 cities.
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Bloomberg Quint
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764
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Ola Electric Commences Rollout Of Latest Software Update 'MoveOS 5'
- Ola Electric Mobility has launched its latest software update, MoveOS 5, improving performance, reliability, and range for its S1 scooters and Roadster X motorcycles.
- Key features of MoveOS 5 include enhanced battery management, personalized journey settings, group riding features, parking assistance, safety alerts, and notifications.
- The software update also includes features like 'Find My Vehicle,' 'Cricket Widget,' and 'Weather Widget' to enhance the overall user experience.
- Ola Electric aims to provide riders with a more advanced and convenient experience through the MoveOS 5 update.
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Bloomberg Quint
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85
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Tata Motors Q1 Business Updates: Global Wholesales Decline 9%
- Tata Motors' global wholesales, including Jaguar Land Rover, declined by 9% in the quarter ending June.
- The company's commercial vehicles and Tata Daewoo range saw a 6% decline in global wholesales.
- Jaguar Land Rover reported an 11% decrease in global sales with Jaguar sales at 2,339 vehicles and Land Rover sales at 84,947 units for the quarter.
- Despite the decline, Tata Motors shares rose over 1% on the day of the announcement.
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Eu-Startups
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As easy as Netflix: Austrian DeepTech startup Hololight raises €10 million for its XR pixel-streaming tech
- Austrian DeepTech startup Hololight, known for AR/VR pixel-streaming tech, secured a €10 million investment led by Cipio Partners.
- Hololight aims to make XR pixel-streaming easily accessible across the AR/VR market, comparing it to the simplicity of Netflix for streaming movies.
- The company's XR pixel-streaming technology overcomes device, performance, and security limitations, enabling seamless streaming of applications to AR/VR devices.
- With over 150 international customers and partners, Hololight plans to expand its position in XR pixel streaming and promote global technology adoption.
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