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Bloomberg Quint
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UP Cabinet Approves Rs 4,775 Crore Expressway Connecting Agra-Lucknow And Purvanchal
- The Uttar Pradesh cabinet has approved the construction of a controlled-access greenfield link expressway between the Agra-Lucknow Expressway and the Purvanchal Expressway to enhance connectivity across major regional corridors.
- The project, totaling Rs 4,775.84 crore, will interlink various expressways like the Agra-Lucknow Expressway, Purvanchal Expressway, and others, covering key locations such as Lucknow, Agra, Kanpur, Prayagraj, Varanasi, and Ghazipur.
- The expressway, spanning 49.96 kilometers initially expandable to eight lanes, will be constructed under the Engineering, Procurement, and Construction (EPC) model and is expected to generate direct and indirect employment opportunities.
- The project aims to provide seamless and rapid access across Uttar Pradesh, fostering regional development through improved logistics and transportation, and the entire cost of Rs 4,775.84 crore will be covered by the state government.
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Bloomberg Quint
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Monsoon Damage? What Your Home And Vehicle Insurance Actually Cover
- Understanding what your home and vehicle insurance cover during the monsoon season is crucial to avoid costly repairs due to rain-related damages like waterlogging, flooding, roof leaks, and electrical damage.
- Home insurance typically covers structural damage, electrical equipment, and furniture affected by heavy rainfall, while vehicle insurance can help with engine damage, accidental damage, and damage from falling objects.
- However, pre-existing issues, negligence, and lack of add-on covers may limit the coverage provided by insurance policies for both home and vehicles during monsoon damage.
- To stay protected, ensure you have the right add-ons in your policies, review them annually, check for flood/storm damage coverage, and take preventive measures like clearing drains and parking in safe areas.
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Bloomberg Quint
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Tata Power Renewables Commissions Record 752 MW Of Solar Projects In Q1
- Tata Power Renewables Ltd. has commissioned a record 752 megawatts of solar projects in April-June 2025-26.
- The total utility-scale operational capacity of Tata Power Renewables now stands at 5.6 GW, including 4.6 GW solar and 1 GW wind capacity.
- The company plans to commission 1.7 GW of its utility-owned capacity during FY26, in addition to 1 GW of third-party projects.
- Factors contributing to the successful execution of projects included advanced engineering practices, supply chain management, execution models, and strong vendor partnerships.
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Bloomberg Quint
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IMD Forecasts Heavy Rain, Strong Winds Across Karnataka For A Week
- The Indian Meteorological Department has forecast heavy rainfall across Karnataka for the next seven days.
- Coastal districts like Dakshina Kannada, Uttara Kannada, and Udupi can expect heavy rain with winds of 30-40 kmph, while Belagavi in north interior Karnataka may experience heavy rain with wind speeds of 40-50 kmph.
- South interior districts such as Chikkamagaluru, Hassan, Shivamogga, and Kodagu may see heavy to very heavy rainfall on certain days, with 'extremely heavy rain' possible at isolated places.
- The weather is influenced by the monsoon trough passing through central and eastern India, along with an offshore trough along the Maharashtra-Karnataka coast.
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Bloomberg Quint
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Protecting Shareholder Rights Through Articles Of Association In Layered Corporate Structures
- Incorporate HoldCo's SHA and AOA provisions in SubCo's AOA for protecting rights.
- Failure to include governance-related provisions in AOA may limit shareholders' recourse.
- Publicly incorporating SHA provisions in AOA essential to safeguard shareholders' rights.
- Incorporating SHA provisions in AOA prevents third parties from having better rights.
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Bloomberg Quint
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India Initiates Anti-Dumping Probe Into Multi-Layer Paperboard Import From Indonesia
- India has initiated an anti-dumping probe into the import of multi-layer paperboard from Indonesia following a complaint by domestic players.
- The Indian Paper Manufacturer Association filed the application with the Directorate General of Trade Remedies, alleging that the industry is impacted due to the dumped imports.
- The product under investigation is used in various sectors like pharmaceuticals, FMCG, food and beverages, electronics, cosmetics, and publishing.
- If dumping is found to have caused material injury to domestic players, the Directorate General of Trade Remedies may recommend the imposition of a levy on imports, with the finance ministry making the final decision.
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Eu-Startups
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Munich-based EDURINO raises €17 million to give children a responsible, playful entry into the world of digital education
- German EdTech startup EDURINO raises €17 million in Series B financing to become Europe’s leading platform for educational gaming for children.
- The funding round was led by Ravensburger Next Ventures with participation from various investors, aiming to set the standard for digital learning at pre-school and primary school age.
- EDURINO combines educational games, ergonomic input tools, and animated characters teaching skills like reading, coding, and environmental awareness. They have sold over one million products and are used in more than 1,500 educational institutions.
- The company plans to focus on platform development, international scaling, and retail expansion with the Series B funding. They aim to create interactive learning experiences and make education an emotional experience for families.
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Bloomberg Quint
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UCO Bank Q1 Update: Business Grows Nearly 14%, Loan-Book Expands 20%
- UCO Bank reported a healthy business growth of 13.67% in the April-June period of financial year 2026, with total business reaching Rs 5.24 lakh crore.
- The bank's domestic advances increased by 19.76% to Rs 2 lakh crore, while total advances grew by 16.58% to Rs 2.27 lakh crore.
- Deposits rose by 11.57% to Rs 2.99 lakh crore, despite only a 1.7% increase over the March quarter.
- The bank's credit-deposit ratio increased to 75.48% from 72.07% a year earlier, with shares closing 0.98% lower at Rs 32.39 apiece on the NSE.
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Bloomberg Quint
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Unsecured Loan Growth Hits 18-Month Low As Asset Quality Woes Remain
- Growth in unsecured loans has hit an 18-month low, with personal loans and credit card loans growing at 8.3% and 8.5% year-on-year in May.
- This slowdown is attributed to lenders adopting a cautious approach, tightening credit filters, and concerns over borrower over-leveraging and rising delinquencies.
- Private sector banks have seen stress in their unsecured retail loan portfolios, with a higher gross non-performing asset ratio compared to the overall retail portfolio.
- Analysts expect personal loan growth to improve in the second half of the financial year, driven by the festive season and a revival in demand alongside government's taxation benefits.
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Bloomberg Quint
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Stock Market Highlights: Sensex, Nifty Erase Intraday Gains To Close Lower For Second Day
- Indian benchmark equity indices closed lower for the second consecutive day, with Nifty and Sensex dropping by 0.19% and 0.2% respectively. Nifty PSU Bank, Metal, and Realty sectors saw the most significant declines.
- Top gainers in Nifty included Dr. Reddy Laboratories Ltd., Apollo Hospitals Enterprise Ltd., and Hero MotoCorp, while laggards consisted of State Bank of India, Kotak Mahindra Bank, Bajaj Finserv Ltd., and JSW Steel Ltd.
- Infosys Ltd. and Maruti Suzuki India Ltd. were among the top contributors to gains in the Nifty, while Kotak Mahindra Bank and Bharti Airtel were the major drag on the index.
- Nine out of the 15 sectors on NSE closed in the red, with Nifty PSU Bank, Metal, and Realty facing significant declines. The market breadth favored sellers with more stocks declining than advancing on the BSE.
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Bloomberg Quint
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Foxconn Disruption 'Temporary', Say MeitY Sources After iPhone Maker Pulls Out Chinese Staff From India
- The disruption caused by Foxconn pulling out Chinese staff from India is expected to be temporary, according to sources within the Ministry of Electronics and Information Technology.
- Foxconn, a key manufacturer of Apple's iPhones, is likely to hire 500-1,000 Indian workers this month amidst the disruption.
- India is said to have sufficient manpower to address the situation as local machine manufacturing is increasing, potentially reducing dependency on imports over time.
- The pull-out of over 300 Chinese engineers by Foxconn has led to reassurances that there won't be any major problems and the disruption is estimated to last a month or so.
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Bloomberg Quint
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India Not Looking At 25% Tariffs, Mini Trade Deal With US To Leave Tricky Sectors For Later: CII President
- Confederation of Indian Industry President Sanjiv Memani expressed optimism about India-US trade talks, with industry expectations being considered.
- India is not considering the continuation of 25% tariffs, focusing on relative competitiveness in negotiations.
- Some contentious issues may be left for future discussions to ensure a balanced framework in the trade agreement.
- The US seeks market access in Indian agricultural sectors, while India aims for tariff concessions on labor-intensive exports like garments and footwear.
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SiliconCanals
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UK’s HIVED lands €35.5M to expand its AI logistics platform and electric delivery fleet
- UK-based HIVED, an AI-powered parcel delivery startup, secures €35.5M in Series B funding led by NordicNinja to expand its operations and electric delivery fleet.
- The funding will be used to accelerate HIVED's UK rollout, enhance its engineering and data team, and scale the development of its proprietary logistics intelligence platform, HIVEDmind.
- HIVED, founded in 2021, offers customer-centric, tech-enabled, and all-electric parcel delivery services using its AI-driven platform to revolutionize the delivery experience.
- The company has achieved significant milestones by delivering over 6.5 million parcels in Greater London with impressive on-time delivery rates and high customer satisfaction, surpassing industry averages.
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Bloomberg Quint
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What If Your Medical Bill Exceeds Health Insurance? Check These Simple Tips
- Rising medical costs can exceed insurance coverage, understanding backup options crucial.
- Options for managing financial gap when medical bill surpasses insurance coverage amount.
- Tips include top-up insurance, checking for sub-limits, co-pay clauses, and using emergency savings.
- Corporate health benefits and reviewing policy details also aid in dealing with costs.
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Eu-Startups
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Swiss cloud platform Impossible Cloud Network (ICN) secures €28.8 million to become an alternative to “monopolistic hyperscalers”
- Swiss cloud platform Impossible Cloud Network (ICN) based in Zug secures €28.8 million in funding, reaching a post-money valuation of over €398 million.
- The funding round led by NGP Capital includes investments from 1kx, Protocol Labs, No Limit Holdings, and HV Capital, with the launch of ICN's native token $ICNT.
- ICN aims to challenge Big Tech giants like Amazon Web Services by offering decentralized cloud services, currently generating €5.9 million in ARR with a vision for over 200 cloud services.
- The platform provides enterprise-grade, decentralized storage and compute solutions, positioning itself as a cost-effective alternative to traditional hyperscalers, with plans to expand services into compute, AI inference, and edge networking.
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