Business
Central banks independence debate: ECB’s Lagarde warns subverting Fed could trigger disruption; says bank’s autonomy as ‘critically important’
Christine Lagarde cautioned against undermining central bank independence, citing potential dysfunction and instability. Her remarks, delivered amidst President Trump’s pressure on the Federal Reserve to cut interest rates, highlight international concern over political interference. Lagarde’s experience at the IMF informs her warning about the dangers of compromising central bank autonomy.
Corporate insolvency: NCLAT dismisses plea against Nuvoco’s Vadraj acquisition; tribunal backs NCLT approval of Rs 1,800 cr resolution plan
The NCLAT has upheld Nuvoco Vistas’ acquisition of Vadraj Cement, dismissing an appeal challenging the resolution plan. The tribunal affirmed the NCLT’s approval of Nuvoco’s Rs 1,800 crore plan, noting the bid exceeded Vadraj Cement’s fair value. The decision addressed concerns regarding employee gratuity dues, confirming payouts aligned with the approved resolution plan.
India-China ties: China agrees in principle to reopen Shipki-La route; Himachal sees boost for trade, tourism
India and China have made progress in reviving border trade, with Beijing agreeing to reopen the Shipki-La pass in Himachal Pradesh, suspended since 2020. External Affairs Minister S Jaishankar informed Himachal Pradesh Chief Minister Thakur Sukhvinder Singh Sukhu that discussions are underway to restore trade through Shipki-La, Lipulekh, and Nathu La.
Bullish run: Reliance, TCS, Airtel lift top-10 mcap by Rs 1.72 lakh cr; HDFC Bank and SBI weigh down
Fueled by bullish domestic equities, eight of the top-ten most valued firms in India saw a combined market valuation increase of over Rs 1.72 lakh crore last week. Reliance Industries emerged as the biggest gainer, while HDFC Bank and SBI experienced declines in market capitalization. Reliance Industries remains the most valued firm, followed by HDFC…