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business families are asking legal advisors and experts in the field to advise them on possible amendments to tightly written Deeds of Family Settlement (DFS) that were designed to safeguard inheritances in an age that didn’t envisage the prospect of members going abroad venturing into segments that were non-existent at the time. For instance, the younger members of a Delhi-based family which has multiple interests in the consumer sector are seeking opportunities within and outside the country, said a top Mumbai-based business advisor.

In the panel session ‘Challenges and benefits of CBDCs, tokenised deposits, and stablecoin adoption’, speakers David Cunningham, head of strategy and partnerships for digital assets, treasury, and trade solutions at Citi; Manuel Klein, market management payments and digital currencies, cash management at Deutsche Bank; Alessandro Roveda, head of network services solutions at Nexi Group; Gilbert Verdian, founder and CEO of Quant; and Phoebe Zhou, head of emerging payments, GPS Europe at HSBC, discussed how various countries manage public and private money.

hydroelectricity production in recent times may further coal usage to meet its rising power demand in the coming months, S&P Global Commodity Insights said on Tuesday. It is also likely to keep the coal import window open for the country. This is despite an increase in coal production, which touched the 1-billion-tonne mark in FY24, which was in line with the government's target of reducing the country's dependence on coal imports, it said. Depleting hydroelectricity generation in the backdrop of irregular rainfall last year has led to a lower water level available in the country's primary reservoirs which could further reduce generation during the summer, it said. India has imported around 85 million tonnes of thermal coal so far in 2024, S&P Global Commodities at Sea data showed.

Fitch Ratings has raised India's growth forecast for FY25 to 7.2% from 7% earlier, on the back of elevated consumer confidence that is expected to drive spending and increased investments, but cautioned that the ongoing heatwave was a risk to both growth and inflation. In its Global Economic Outlook (GEO) released Monday, it raised its forecast for world growth in 2024 to 2.6% from 2.4% estimated earlier. India's economy grew 8.2% in FY24. «We expect the Indian economy to expand by a strong 7.2% in FY25 (an upward revision of 0.2pp from the March GEO),» Fitch Ratings said, adding that investment will continue to rise but more slowly than in recent quarters, while consumer spending will recover with elevated consumer confidence. Purchasing managers survey data point to continued growth at the start of the current financial year. Earlier this month, RBI had revised upwards the country's GDP forecast by 20bps to 7.2%. As per the report, signs of the coming monsoon season being more normal should support growth and make inflation less volatile, though a recent heatwave poses a risk. «We expect growth in later years to slow and approach our medium-term trend estimate,» it said.

National Financial Reporting Authority (NFRA) will wrap up its first annual inspection of eight audit firms — including the Big Five — and reveal its findings by October or November, people aware of the auditing regulator's plans said. The inspection, focused on the processes and standards adopted by auditors, could reveal how NFRA plans to bolster the country's audit and accounting ecosystem to curb corporate frauds and uphold shareholders' interests in a fast-growing economy, one of the persons said. The inspection reports will also reveal the Big Five's compliance with suggestions made in the regulator's December 2023 reports that had flagged deficiencies in their work processes. It had also expressed its reservation over non-audit services provided by some of these auditors to the same companies for whom they are also the statutory auditors.

Ehrmann introduced the theme - 'Orchestrating the Dialogue on Payments – The Collaborative Advantage' and praised the location of the event - Lisbon, Portugal - reiterating how the city and country has excelled with regards to digital transformation.

ALSO READ: Babar Azam deserves no place in Pakistan's T20 cricket team: Virender Sehwag says, 'I may sound harsh, but...'According to a report by The Express Tribune, some players are even considering playing in local leagues in the United Kingdom, while others plan to spend time with friends and family in London.In the meantime, head coach Gary Kirsten and assistant coach Azhar Mahmood will head to their respective homes.ALSO READ: 'There's no unity in Pakistan's team': Head coach Gary Kirsten lashes out after dismal performance in T20 World CupGary Kirsten appeared deeply disappointed and frustrated with Pakistan's dismal performance and eve stated that there is 'no unity' within the Pakistan team."There's no unity in Pakistan's team. They call it a team, but it isn't a team.

Master Card has announced a major change to its digital payments system in Europe and this is expected to affect millions of customers. The company which is the second largest payment network in the world has announced that all digital payments shall be 100% tokenized by 2030. Master Card introduced this system in 2014 and it now accounts for over 25% of all digital payments around the world. The new system seeks to move towards ensuring digital security of the card holder, ensuring ease of payments and also ensuring easier management of card systems. This has been reported by the Mirror.

PepsiCo India is seeking to enhance the livelihood prospects for 1 million women in the country by 2026 under an initiative that focuses on sustainable development and gender equality, the beverages and packaged foods company said. It is looking at doing this through a combination of upskilling, awareness building and by offering job opportunities. The company has named this initiative as RevolutioNari, and is currently looking at partnering with other companies for this project.

Ecuador has announced the suspension of an agreement with China that had waived visas for Chinese citizens traveling to the South American country

Ford plans further job cuts in Germany, Spain and the U.K., the head of the worker's council for the US automaker in Germany told Reuters on Tuesday. It is unclear how many additional job cuts are foreseen in Germany under the new restructuring plan, which comes on top of a previous restructuring program, said the head of the works council at Ford's Cologne plant, Benjamin Gruschka. Gruschka added that a decision is expected by end June.

Oil markets could be in for a stormy year, according to a new report from strategists at Bank of America.

Taxation policy is critically important since it intersects with the economic and social policies of the government, with the raised funds supporting programs such as social safety nets, pensions and income re-distribution, as well as critical infrastructure.

Paytm share plunges 3% amid discussions with Zomato to sell movie ticketing businessThe chairperson of NCPCR disclosed that 58 children, including 20 girls, were found at the plant. He further stated that many of the children had suffered burns on their hands due to exposure to chemicals.“Yesterday afternoon, during an inspection in Madhya Pradesh's Raisen district, we found 39 boys and teenagers employed in the liquor manufacturing work at the Som Distillery who had disappeared from the factory late in the evening," NCPCR said in a post on social media X.However, the company has denied responsibility for employing child labour, attributing the incident to a private contractor."We wish to clarify that these concerns are not related to Som Distilleries and Breweries Limited but relate to our associate Private Limited company which deals in country liquor primarily, and not the listed company as reported," the company said.In the last one year, Som Distilleries' stock has increased by 13 per cent, which lags behind the Nifty 50 benchmark index, which rose approximately 26 per cent over the same period.Also read: Minda Corp share price hits record high; gains 74% in about 1 year; is the stock buy-worthy? Experts weigh inSom Distilleries and Breweries, based in Bhopal and promoted by Som Group, is a prominent player in the Indian alcoholic beverages sector.

₹18,000 crore in a follow-on public offer in April.In a note to clients, JP Morgan said that the company expects to have adequate cash to repay annual government dues starting FY28.“Vodafone Idea believes that post moratorium-end next year and spectrum payments restarting, it will need government support in FY26/27 and after that it believes its cash generation should be sufficient to repay annual government dues," analysts at the brokerage said in the note seen by Mint.The Aditya Birla Group-promoted telecom services provider owes the government $24.5 billion or more than ₹2 trillion for spectrum bought in prior auctions as well as dues from adjusted gross revenues or AGR, that it needs to start repaying. In FY26, it must pay $3.5 billion, then $4 billion each year from FY27 to FY31.“Given its cash crunch, it is in favour of converting the deferred amount ($3.5 billion) of this debt into equity from FY26, which we assume happens at ₹10 per share, driving dilution," the analysts added.

EVM and used to generate an 'unlocking' OTP. This incident has intensified calls from various political figures in India to replace EVMs with traditional ballot papers. Former Andhra Pradesh Chief Minister YS Jagan Mohan Reddy has been vocal in his criticism of EVMs.

Heritage Foundation public finance economist EJ Antoni joins The Bottom Line to discuss Aprils jobs report falling short of economists expectations and the labor force participation rate.

study abroad to demonstrate their readiness for academic success in English-speaking environments. Almost all universities in popular overseas education countries such as the US, UK, Australia & Canada, and even in emerging destination markets such as Germany, France, Singapore, Dubai among others requires an English Proficiency Test and accepts TOEFL iBT test scores for the same. The fear of taking an English proficiency test is often higher in aspirants who have studied in vernacular languages, as opposed to those who have had their education with English as a medium of instruction. However, with the right preparation and learning resources, aspiring Indian students can easily get the requisite scores for TOEFL test. The TOEFL iBT test is a crucial step for Indian students aiming to study in any domain across undergraduate, graduate or post graduate programs in English-speaking countries or enroll in English-taught programs globally. The test evaluates proficiency in English and the learner’s ability to understand and use it in an academic context. The TOEFL iBT assesses your English language proficiency across reading, listening, speaking, and writing.

Indian fishermen were arrested and their trawler seized early on Tuesday by the Sri Lanka Navy for allegedly poaching in the island nation's waters, taking the total number of such arrests to more than 180 this year. «In the latest incident of alleged poaching by Indians, one Indian trawler was seized and four fishermen were arrested early on Tuesday around the northern islet of Delft in the Jaffna peninsula,» Sri Lanka Navy said here. Including Tuesday's arrests, a total of 182 Indian fishermen have been arrested and 25 of their trawlers seized so far in 2024 for alleged illegal fishing in Sri Lankan waters, the Navy said. The numbers are almost 75 per cent of the approximate 240-245 held similarly in 2023.

The dust from a heated election campaign has now settled down. A new government has been sworn in. The Union finance ministry led by Nirmala Sitharaman is busy preparing the full budget for the current financial year.

recently observed several discrepancies in data on heatwave-related deaths in India reported by different wings of the government. The year 2023 was India's second-warmest on record, closely trailing the record-breaking temperatures experienced in 2016, according to the IMD.