Latest Developments

Asia
The Hindu BusinessLine

SBI ends land dispute with Telangana govt, to withdraw case

State Bank of India (SBI) and the Telangana government have settled the legal dispute over Raidurgam land in Hyderabad with the bank agreeing to withdraw its case filed against the government and accept allocation of an alternative site. The State government has also agreed to offer an additional plot in the upcoming Future City for a data centre to be set up by the bank. Senior officials of SBI and a team of officials from the state government led by Chief Secretary Ramakrishna Rao held talks on the matter on Saturday and entered into an agreement. Earlier this month, SBI secured a stay from the Telangana High Court on the auction of the land by the Telangana Industrial Infrastructure Corporation (TGIIC) in Raidurgam here which had earlier allotted the property to the bank. This led to a confrontation between the State Government which examined the option of withdrawing its key financial transactions from SBI. An upset Chief Minister A Revanth Reddy took up the matter with the Finance Ministry and top leadership of SBI, according to sources. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

SBI ends land dispute with Telangana govt, to withdraw case
Asia
The Hindu BusinessLine

AP govt allots land to SAF One India SPKompact for SAF production facility in Kakinada

Andhra Pradesh Government has allotted 45 acres of land to SAF One India SPKompact Pvt Ltd, a subsidiary of SAF One Energy Management Limited, Dubai, in Kakinada for establishing a Sustainable Aviation Fuel (SAF) Production Facility on long-term lease with investment ₹1,835 crore. The proposed facility is expected to generate 2,500 directed and indirect jobs. The State Investment Promotion Board (SIPB) recommended the proposal for allotment of approximately 45 acres of identified Andhra Pradesh Maritime Board (APMB) land at Kakinada to SAF One India SPKompact for establishment of a Sustainable Aviation Fuel (SAF) production facility, in accordance with the APMB Land Allotment Guidelines, 2026. Subsequently, on Saturday the State Government approved the allotment of land and execution of a long-term lease agreement by APMB in favour of the company for a period of 30 years, with lease rentals and other applicable charges levied as per the prevailing norms. The allotment on an “as-is-where-is” basis, subject to the company obtaining all requisite statutory approvals, clearances, and compliances from the competent authorities, according to the order. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

AP govt allots land to SAF One India SPKompact for SAF production facility in Kakinada
Asia
The Hindu BusinessLine

AP govt to issue bar licences at airports, except Tirupati

Andhra Pradesh government has issued an order on Saturday providing for the issuance of bar licences to the airports in the State. Following a proposal, the Group of Ministers had reviewed the comparative inter-State position covering the States of Maharashtra, Telangana, Karnataka, and Delhi T3, regarding operation of bar licences at airports, including the applicable licence fee structure, business hours, serving points and counters, etc. The Group of Ministers gave recommendations, based on which, the Director, Excise & Prohibition, submitted proposals for grant of bar licences to airports (except Tirupati Airport) along with justification and requested to issue guidelines. “After careful examination of the matter, the government has formulated the guidelines for grant of excise licences for airports (except Tirupati Airport),” the government order said. Further, it is decided to make amendments to AP Excise (Grant of Licence of Selling by Bar and Conditions of Licence) Rules 2025 to implement the policy guidelines issued in this regard, the GO added. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

AP govt to issue bar licences at airports, except Tirupati
Asia
The Hindu BusinessLine

India’s agristack moment: Building digital backbone of agriculture

In February 2026, the Government of Maharashtra disbursed over ₹14,000 crore in disaster relief for Kharif crop losses to 89 lakh farmers in just five days. The following month, in March 2026, the Chhattisgarh government successfully transacted MSP-based paddy procurement, covering over 32 lakh farmers in a single season. A few years ago, the sheer scale and velocity of such exercises would have been unthinkable in a sector traditionally defined by fragmentation - whether of land records, beneficiary data, or administrative workflows. Today, these milestones represent a powerful proof point for the effectiveness of the robust Digital Public Infrastructure (DPI) rewriting the playbook for 21st-century Indian agriculture -AgriStack. This transformation follows the exact blueprint of the Unified Payments Interface (UPI) revolution. Just as UPI decoupled banking from physical branches by building an open, public protocol, AgriStack is transforming India’s disconnected agri-economic landscape into an integrated digital ecosystem. The system connects three open, foundational registries onto one digital platform: · The Farmers’ Registry: A single, verified digital identity for every farmer. It is connected to their verified farmland plot records. · The Crop Sown Registry: A dynamic registry that accurately captures and maps exactly what crops are being grown and harvested each season. · Geo-Referenced Village Maps: A comprehensive database providing spatial data and precise boundary mapping for agricultural land, linking geographic realities directly to land ownership. Just like UPI made financial transactions instant and effortless, AgriStack is making it easier for farmers to get the support they need, right when they need it. Consequently, the impact of the platform will be significant in all aspects of a farmers’ business – from sowing crops to accessing financial aid to market linkages. Bridging the gap in agricultural credit through transparency: Historically, small and marginal farmers have faced a significant credit gap from Indian banking and financial institutions because securing a formal loan was plagued by administrative delay, collateral verification costs, and paperwork. The advent of AgriStack bridges the trust gap by linking the farmer registry to RBI’s Unified Lending Interface (ULI), thus providing a secure conduit for lenders to access a farmer’s consolidated data instantly. The real-time data clarity has not only collapsed transaction timelines from weeks to hours but also provided RBI the confidence to facilitate better financial assistance to farmers. For instance, the credit limit of collateral-free credit has been increased to ₹2 lakh per borrower under the Kisan Credit Card scheme. Verifying farmer claims in real time through traceability: Before the advent of Agristack, farmer credit was disbursed based on self-reported data, leading to misallocated funds or multiple loans taken out on the same piece of land. To address the issue, the Crop Sown Registry, powered by automated Digital Crop Surveys (DCS), gives lenders real-time, tamper-proof data at different stages of cultivation. The registry maintains a historical, plot-level record of key details, such as when, where, and what crops are planted in each cropping season. Banks can match loan amounts to exact crop acreage, lowering risks and preventing loan stacking, thus drastically lowering their risks. The government targets to cover all 30 crore farm plots in 604 districts in the country by the Kharif season 2026. Enabling trust through a single source of truth: For decades, rural data i.e. crop and land records were filled out by guesswork away from the field. By mapping paper records onto precise GPS coordinates of geo-referenced village maps, AgriStack establishes a geo-tagged digital fence around every farm plot. A surveyor cannot log a crop or upload a photo unless their live location physically matches the plot’s coordinates. By doing so, the platform has eliminated the scope for proxy reporting and data fabrication. To date, 5.4 lakh villages out of the country’s 6.75 lakh have been fully geo-referenced.

India’s agristack moment: Building digital backbone of agriculture
Asia
The Hindu BusinessLine

Strides Pharma sells majority stake in arm Pivot Path for ₹100 cr

Strides Pharma Science Ltd on Saturday announced divestment of majority stake in its wholly-owned arm Pivot Path for ₹100 crore to a consortium of investors led by Ascent Capital, along with co-investor Vintage. The board of directors of the company, at its meeting held on June 27, 2026, has approved a strategic investment by a consortium led by Ascent Capital, along with co-investor Vintage Classic, in its wholly owned subsidiary, Pivot Path Pvt Ltd (Pivot Path), Strides Pharma Science Ltd , said in a regulatory filing. The proposed transaction comprises the sale of the majority stake by Strides to Ascent Capital and Vintage Classic for an aggregate consideration of ₹100 crore and the primary infusion of ₹50 crore into Pivot Path by Ascent Capital to accelerate the next phase of growth, it added. Strides will receive ₹75 crore at initial closing and ₹25 crore on the first anniversary of closing, it added. After the transaction, Strides will hold a 19.95 per cent stake in Pivot Path, while investors will hold 65.05 per cent with ESOP Pool at 15 per cent, the filing said. In a separate filing, Strides said the transaction values Pivot Path at ₹230 crore on a post-money basis. Pivot Path originated within Arco Lab Pvt Ltd, Strides' Global Capability Centre (GCC), where it developed capabilities across life sciences consulting, digital transformation, quality and compliance, and technology-enabled operational services, it said. "As the business enters its next phase, we believe this is the right time to bring in a strategic investment partner with the expertise and capital to accelerate its growth," Badree Komandur, MD & Group CEO of Strides, said. This transaction unlocks value for Strides, provides Pivot Path with the resources to scale independently, and allows Strides to retain meaningful participation in its future success, he added. Ascent Capital Managing Director & Founder Raja Kumar said, "Pivot Path brings deep domain expertise across the core, non-discretionary segments of the pharmaceutical industry, capabilities that have been rigorously honed within the Strides stable." As an Independent entity, Pivot Path is exceptionally well-positioned to combine the power of technology and Agentic-AI with its 400-plus subject matter experts in building purpose -built solutions that enable global customers to manage their compliance, digital transformation, and drug safety requirements with greater speed, precision, cost-effectiveness and confidence, he added. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Strides Pharma sells majority stake in arm Pivot Path for ₹100 cr
Europe
The Guardian

Here’s what to do if your StubHub World Cup resale ticket is canceled

Many World Cup fans who bought resold tickets on StubHub were notified days or hours before the match that their tickets did not exist. Photograph: NurPhoto/Getty ImagesView image in fullscreenMany World Cup fans who bought resold tickets on StubHub were notified days or hours before the match that their tickets did not exist. Photograph: NurPhoto/Getty ImagesConsumedWorld Cup 2026Here’s what to do if your StubHub World Cup resale ticket is canceledWorld Cup StubHub ticket mess shows how weak consumer protections are in the US, but there are steps fans can take A growing number of World Cup fans who thought they had bought tickets to matches on the ticket reseller StubHub were notified with just days or hours to spare that their tickets did not exist. Horror stories about stranded families, ruined once-in-a-lifetime trips, thousands of dollars squandered, and hang-ups on StubHub’s customer service line are flooding social media and local news. It’s the latest sign of the powerlessness many consumers feel in the US, say advocates who estimate thousands of World Cup fans may have been affected. “The system is deeply broken and flawed at all levels,” said Brian Hess, the executive director of the Sports Fans Coalition, a non-profit that advocates for fans’ rights. “Consumers should not have to fight like this,” he said. StubHub has a history of failing to deliver promised tickets, claimed Bradford Clements, an attorney and former Texas state prosecutor who has more than 150 clients, both buyers and sellers, who say they were ripped off or misled by StubHub and are owed $2.4m. “This happens over and over” – not just at World Cup matches, Clements said. StubHub often says the seller pulled out of the ticket swap at the last minute, but that’s frequently not the case, he said. A StubHub spokesperson said that fans should “contact us directly and ask for World Cup specialist support”. Many of the World Cup issues had to do with a faulty new ticketing app that Fifa introduced just before the tournament, StubHub said. “The issues fans have experienced at this World Cup are transfer problems, not ticket problems,” the spokesperson said. Fifa’s app “has experienced significant performance issues that have affected ticket transfers across all resale platforms”, which are outside StubHub’s control. Fifa said that Fifa.com/tickets, the company’s primary ticket sales and the official resale platform, “is the official ticket sales channel for the Fifa World Cup 2026. Fifa can guarantee the validity and delivery of tickets purchased through its official platforms.” The Guardian spoke to consumer advocates, lawyers, company representatives and analysts about what thwarted ticket holders could do to get their money back or get to the game, and what reform is on the horizon. Here’s what they suggest: Fans who want to get to a game should be “persistent with customer service and demand that they get tickets”, said Hess.

Here’s what to do if your StubHub World Cup resale ticket is canceled
Europe
The Guardian

Too hot for work: why extreme heat is a threat to Europe’s productivity

Canary Wharf station in east London. Workers across the UK and Europe have faced sweltering offices and disrupted commutes. Photograph: Yui Mok/PAView image in fullscreenCanary Wharf station in east London. Workers across the UK and Europe have faced sweltering offices and disrupted commutes. Photograph: Yui Mok/PAProductivityToo hot for work: why extreme heat is a threat to Europe’s productivityHigh temperatures make some workplaces dangerous, with economists warning disruption will dent growth Joanna PartridgeFri 26 Jun 2026 01.00 EDTLast modified on Fri 26 Jun 2026 03.39 EDTSharePrefer the Guardian on GoogleMonique Mosley is used to sweltering conditions at the food factory in Yorkshire where she works, but June’s record-breaking heatwave has made conditions unbearable. “We make hot filled food products and it’s common that we see temperatures in the high 30s,” she said. “Thanks to our union, our employer is offering extra breaks, but not every workplace is the same.” The latest heatwave to grip the UK and much of western Europe has presented significant challenges to employers and their employees, from sweltering offices, disrupted commutes and school closures to dangerous construction sites where workers are at risk of dehydration, heatstroke and other injury. There is now a growing acceptance that increasing spells of extreme heat have a significant impact on productivity and threaten Europe’s already sluggish economies. Economists warn that the climate crisis will dent economic growth unless European countries adapt their ageing buildings and infrastructure. Robert Marks, the lead climate economist at Oxford Economics, said temperatures in the high 30s and low 40s would “likely lead to substantial productivity losses and directly disrupt labour across construction, agriculture, manufacturing, retail and hospitality and other sectors which are unable to provide a protected work environment”. “These sectors represent 27% of economic activity in the UK and an average of 35% in western Europe,” he said. As a result, a four-day heatwave “could reduce quarterly labour productivity growth by 1.5 percentage points in the UK and up to two percentage points in the rest of western Europe”. The largest loss of working hours in western, northern and southern Europe by 2030 is expected to be felt by the agriculture and construction sectors, according to research by the International Labour Office. View image in fullscreenA construction worker in Wimbledon. The largest loss of working hours in western, northern and southern Europe is expected to be felt by the agriculture and construction sectors. Photograph: Amer Ghazzal/ShutterstockResearchers at the insurance group Allianz found extreme heat was emerging as a “structural economic risk” for Europe. They found France, Spain and Italy were among the European economies most exposed to the growing economic cost of heat stress (the UK was not included in the study). This was because productivity losses intensify sharply above a 30C threshold, while at the same time the cost of energy required to cool machinery and buildings rises. France could lose $240bn (£182bn) in economic output between 2026 and 2030 under the study’s stress scenario, followed by $147bn for Italy and $120bn for Spain, representing a cumulative loss of as much as 7% of gross domestic product. “The heatwave is not an exception, it is a direction,” said Katharina Utermöhl, the head of thematic and policy research at Allianz Investment Management and a co-author of the study. “Extreme heat costs all of us as workers, as businesses, as taxpayers, and there is a difference between countries that adapt and those that wait. It would be better to stop treating it as a summer problem and start treating it as a permanent economic policy challenge.” The heatwave has reignited tensions between employees and employers. While workplace regulations in the UK set out a minimum working temperature – 16C in an office, or 13C if strenuous physical work is required – there is no maximum legal temperature. This is because some places such as kitchens or foundries can be hot all the time. Instead, the Health and Safety Executive’s (HSE) guidance to employers tells them to keep the environment at a “reasonable” temperature for employees. There are separate regulations for workers on construction sites, where “reasonable” temperatures are required for indoor areas and the rest areas of outdoor sites, and workers also need to be protected from adverse weather.

Too hot for work: why extreme heat is a threat to Europe’s productivity
Asia-Pacific
The Straits Times

Malaysian ringgit expected to weaken further against Singdollar in 2026

The ringgit has weakened by 0.2 per cent against the Singdollar so far in 2026 after strengthening by 4 per cent in 2025. SINGAPORE – Yaw Poh Ling, an administrative worker based in Singapore, sends money to her ageing parents in Malaysia every month. But as the exchange rate between the Singapore dollar and the Malaysian ringgit has become more volatile, she has become more strategic about when she makes her transfers. “I always check the exchange rate on my CIMB Bank app before making a transfer,” said the 52-year-old. When the exchange rate is more favourable, she exchanges a larger amount of Singapore dollars for the Malaysian currency before transferring, so that it can last her parents several months. “If the rate is too low, I will continue to monitor it and wait for a better rate. But if I urgently need Malaysian ringgit, then I have no choice but to still exchange the money,” she added. Yaw and her parents could enjoy more ringgit in the second half of 2026, with the currency expected to weaken further against the Singapore dollar, analysts said. The ringgit has weakened by 0.2 per cent against the Singdollar so far in 2026 after strengthening by 4 per cent in 2025. It was trading at 3.17 ringgit per Singdollar on June 26, close to its six-month low of 3.21 recorded on June 22. The volatility comes as Bank Negara Malaysia said on June 24 that it would step up measures to support the ringgit, including encouraging companies to bring home and convert more of their overseas earnings into the local currency amid expectations of a stronger US dollar. The central bank added that the ringgit’s recent weakness is mainly due to global factors, and not problems with the country’s economy. “While geopolitical uncertainties have partially eased following an interim peace deal signed by the US and Iran, global financial markets have remained focused on the prospects of higher policy rates in the US amid elevated inflation risks,” said Bank Negara Malaysia’s Financial Markets Committee. It added that foreign investors have adopted a wait-and-see stance towards Malaysian assets ahead of the upcoming state elections in Johor and Negeri Sembilan, which has contributed to the currency’s pullback in June. OCBC Bank foreign exchange strategist Christopher Wong said Bank Negara Malaysia’s latest measures could provide some support to the ringgit.

Malaysian ringgit expected to weaken further against Singdollar in 2026
North America
CNBC Finance

Walmart heir Lukas Walton buys minority stake in the Chicago Bulls and United Center

Walmart heir Lukas Walton and his wife, Samantha, have acquired a minority stake in the Chicago Bulls and the United Center, the team announced Friday. The transaction involves the purchase of existing stakes from limited partners and does not provide Walton with a path to controlling ownership, the team said. The size of the minority stake and the valuation were not disclosed, but a person familiar with the matter told CNBC the Waltons' stake in the team and arena was 10%. The person asked not to be named because they were not authorized to speak publicly on the details. The Reinsdorf family remains the controlling owner of the Chicago Bulls. Jerry Reinsdorf purchased the team for $16.2 million in 1985. Today, the team is worth approximately $6.45 billion, according to CNBC's most recent NBA valuations, making the franchise the fifth-most valuable in the league. The Wirtz and Reinsdorf families split ownership of the United Center, where the Bulls and NHL's Blackhawks play. They will continue to hold the controlling interest in the United Center and the 1901 Project, a $7 billion redevelopment project on Chicago's West Side, the team said. The Bulls have been one of the NBA's most successful franchises in history, winning six championships during the Michael Jordan era. In recent years, however, they have struggled, having not made the playoffs since the 2021-2022 season. Lukas Walton is the 39-year-old grandson of Walmart founder Sam Walton. He and his wife are residents of Chicago. Lukas Walton has a reported net worth of roughly $45 billion according to Forbes. "The Chicago Bulls are as iconic as the city itself, and this transaction reflects our dedication to the city's future. We have long admired the vision the Reinsdorf and Wirtz families have set forth for The 1901 Project, and we look forward to the United Center's continued positive impact on Chicago's West Side," the Waltons said in a statement. Lukas Walton's uncle, Rob Walton, bought the NFL's Denver Broncos in 2022 and also owns a stake in MLB's Arizona Diamondbacks. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Walmart heir Lukas Walton buys minority stake in the Chicago Bulls and United Center