India is looking to reduce its reliance on China for rare earth minerals with a Rs 3,500-Rs 5,000 crore scheme to boost domestic production. This initiative comes as China's export restrictions on rare earths have raised concerns in the Indian automotive and renewable energy sectors.

Emcure stake buy: Pharma firm to acquire 20.42% in Zuventus for Rs 724.9 crore; full ownership to aid consolidation
https://timesofindia.indiatimes.com/business/india-business/emcure-stake-buy-pharma-firm-to-acquire-20-42-in-zuventus-for-rs-724-9-crore-full-ownership-to-aid-consolidation/articleshow/121994554.cms

Emcure Pharmaceuticals will acquire the remaining 20.42% stake in Zuventus Healthcare for ₹724.9 crore, making it a wholly-owned subsidiary. The board has approved the acquisition from minority shareholders, with the transaction expected to close in the September quarter of FY26.

BRICS summit in Rio: Bloc may push trade in local currencies, countries differ on common currency; India says discussions still at 'early stage'
https://timesofindia.indiatimes.com/business/international-business/brics-summit-in-rio-bloc-may-push-trade-in-local-currencies-countries-differ-on-common-currency-india-says-discussions-still-at-early-stage/articleshow/121994756.cms

Ahead of the BRICS summit in Rio de Janeiro, member nations are set to intensify trade settlements in their own currencies, although a unified BRICS currency isn't imminent. Diplomats emphasized that BRICS aims for mutual respect and non-interference, not as an anti-West coalition. Discussions on a common currency are preliminary, with focus on national currency trade.

Income Tax Return: Are capital gains from MFs taxed differently under new & old regime? What taxpayers should know about new LTCG, STCG rules
https://timesofindia.indiatimes.com/business/financial-literacy/taxation/income-tax-return-fy-2024-25-are-capital-gains-from-mutual-funds-taxed-differently-under-new-old-regime-what-taxpayers-should-know-about-new-ltcg-stcg-rules/articleshow/121995606.cms

When filing income tax returns for AY 2025-26, understanding capital gains taxation from mutual funds is crucial. Both old and new tax regimes tax these gains. Long-term gains from equity funds are taxed at 12.50% (exceeding Rs 1.25 lakh), while short-term gains are taxed at 20%.

Centre-state mango relief: Karnataka growers to be paid for price fall on 2.5 lakh tonnes; price fall prompts joint compensation plan
https://timesofindia.indiatimes.com/business/india-business/centre-state-mango-relief-karnataka-growers-to-be-paid-for-price-fall-on-2-5-lakh-tonnes-price-fall-prompts-joint-compensation-plan/articleshow/121996244.cms

The Centre and Karnataka government have partnered to compensate mango farmers for losses due to a sharp decline in market prices. This joint effort, finalized in a meeting between Union Agriculture Minister Shivraj Singh Chouhan and Karnataka Agriculture Minister N Chaluvaraya Swamy, will cover up to 2.5 lakh tonnes of mangoes.

Refunds, advance tax dip: Net direct mop-up down 1.4% to Rs 4.6L crore
https://timesofindia.indiatimes.com/business/india-business/refunds-advance-tax-dip-net-direct-mop-up-down-1-4-to-rs-4-6l-crore/articleshow/121999324.cms

Gross direct tax collections saw a modest increase of under 5% up to June 19, with advance tax receipts growing at a muted 3.9%, signaling potential concerns about corporate profit growth. Net direct tax collections dipped slightly due to a significant surge in refunds, reflecting the finance minister's push for quicker disbursal.

FedEx founder Frederick W Smith dies at 80; CEO Raj Subramaniam issues statement
https://timesofindia.indiatimes.com/business/international-business/heart-and-soul-of-fedex-founder-frederick-w-smith-dies-at-80-ceo-raj-subramaniam-issues-statement/articleshow/122002080.cms

Frederick W. Smith, the founder of FedEx, passed away at 80, leaving behind a transformative legacy in the logistics industry. Smith's innovative concept of overnight delivery revolutionized global commerce, establishing FedEx as a recognizable brand. His vision, born from a college term paper, overcame initial skepticism to reshape air cargo delivery and foster international trade.