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Monday, June 5, 2023

Business News Headlines

*Business News Headlines*

*Economic Times*

Ø RBI may hit rate pause button again this week
Ø Consumer Goods orders swell as brands bet big on festive season 
Ø 69% of train accidents between  FY18 and FY21 due to derailment 
Ø E-way bill generation rises to 8.82 crore in May, points to robust GST  collection in June 
Ø EV start-ups set to power India’s next unicorn club  
Ø Opec+ reaches agreement to extend output cuts into 2024  
Ø Spot airfares up 3x in a month on India’s busiest routes 

*Business Standard*

Ø GST Council likely to approve tribunal blueprint this month   
Ø India may give UK access to PV market, with riders  
Ø Railways seeks CBI probe into Odisha train accident 
Ø USFDA checks of Indian sites still below pre-Covid levels
Ø Reliance Retail, 6 others submit EoIs for Future arm 
Ø Ola Electric likely to cross $1-bn revenue this yr: Ola exec 
Ø Foreign airlines have reaped benefits of growing Indian market, says Wilson  

*Financial Express*
 
Ø DoT plans more shops to Chip firms 
Ø Street sees modest growth of India Inc's topline in FY24
Ø Falling costs power Q4 earnings  
after two quarters of weakness  
Ø FPIs pump in ₹43,838 cr in May, highest in 9 months 
Ø Lemon Tree can ride high on expansion amid improved demand 
Ø Manufacturing PMI hits 31-mth  
high in May on strong demand 
Ø Walmart shareholding in PhonePe drops to 85% 

*Mint*

Ø Govt plans ₹15k cr push for batteries 
Ø RBI may continue pause on rate hike    
Ø Saudi Arabia slashes crude oil output by 1 mn bbl a day        
Ø India to join global scheme to  
improve quality of drugs  
Ø IFC plans $500 mn long-term  
financing for smart meter cos    
Ø India may bring back CVD on  
steel to check flood of imports 
Ø Indians pick UPI over debit cards for ease of use, zero fees 

*Business Line*
 
Ø Banks cut rates on FDs of up 
to 3 years on easing liquidity
Ø Corporate India set for some big hitting on investment front: CII  president   
Ø IEAsees slowdown in solar 
installations in India this year   
Ø Upbeat on India, FPIs pump in  ₹43,838 cr in May 
Ø Balco listing: Govt holds talks  with Vedanta to withdraw  arbitration 
Ø HUL starts price cuts in some  FMCG categories  
Ø Luxury carmakers mull price hike as input costs rise     

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