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INDIA BUSINESS | Thu, 28 May 2026, 3:07PM IST Reliance Industries achieved significant overseas financing milestones in FY26, securing the largest Samurai loan by an Indian company. Chairman Mukesh Ambani voluntarily continued to forgo his salary for the sixth year. The company posted record profits, demonstrating strong financial performance and robust growth.

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INDIA NEWS | Thu, 28 May 2026, 3:07PM IST New Delhi: Reliance Industries Ltd (RIL) said it secured multiple landmark overseas financing deals in FY26, including the largest Samurai loan raised by an Indian corporate, while Chairman and Managing Director Mukesh Ambani continued to forgo salary for the sixth consecutive year despite the company posting record profits.According to RIL's Integrated Annual Report 2025-26, S&P Global Ratings upgraded the company's international debt rating from BBB+ to A- in December 2025, reflecting the "rising contribution from less cyclical, consumer-facing businesses resulting in improved earnings stability."Also Read: RIL announces AGM date on June 19; updates on Jio IPO in focus"The rating upgrade will provide RIL access to new pools of capital at finer spreads," the company said in the annual report.The report said FY2025-26 unfolded amid "heightened market fluctuations" driven by tariff uncertainty, geopolitical tensions and volatility in currency and bond markets, but Reliance was still able to raise financing "across currencies and products at competitive cost for long tenors."Among the key transactions, Reliance tied up a JPY 91.9 billion, or around $625 million equivalent, Samurai loan."This was the largest Samurai loan ever by an Indian corporate and the third-largest ever by an Asian corporate," the company said.The annual report also highlighted two export credit agency-backed financing transactions that were firsts of their kind globally.RIL said it secured around $500 million equivalent Korea Trade Insurance Corporation (KSURE)-supported untied facilities to finance capital expenditure."This is KSURE's first untied facility for any corporate globally," the report stated.In another transaction, Reliance tied up around $600 million equivalent Nippon Export and Investment Insurance (NEXI)-supported untied facilities linked to its solar photovoltaic and battery gigafactories."This is NEXI's first untied facility for any corporate globally. The facility has the longest average tenor for any Export Credit Agency supported facility globally," the company said.The company said its liquidity strategy focuses on maintaining "a strong cash reserve" and sufficient undrawn credit lines to manage market volatility and funding requirements.RIL's financial performance during FY26 remained strong, with consolidated revenue rising 9.8 per cent year-on-year to Rs 11,75,919 crore, while net profit increased 17.8 per cent to Rs 95,754 crore."RIL has become the first Indian company to cross $10 billion in annual net profit," Mukesh Ambani said in his message to shareholders in the annual report.The report added that Reliance continued to fund its expansion plans "through strong internal accruals while maintaining a robust balance sheet."As of March 31, 2026, the company's gross debt stood at Rs 3,74,421 crore, while net debt stood at Rs 1,24,717 crore. The debt-to-equity ratio remained at 0.41:1.Also Read: Mukesh Ambanis $4 billion Jio IPO hits Iran war roadblockAlongside the financing milestones, the annual report showed that Mukesh Ambani continued to draw nil remuneration from the company for the sixth straight year from FY2020-21 to FY2025-26.According to the disclosure, Ambani received "Nil remuneration from the company. This means no salary, no allowances, no perquisites, no retiral benefits, no commission, and no stock options for six years running."The company said Ambani had voluntarily decided to forgo his remuneration in June 2020 during the Covid-19 pandemic and had continued the decision thereafter.Reliance also noted that before the pandemic, Ambani had voluntarily capped his remuneration at Rs 15 crore annually since FY2008-09 for 12 consecutive years despite the company's growth in revenue and profitability.

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INDIA BUSINESS | Thu, 28 May 2026, 3:04PM IST From crypto wallets to online accounts, lawyers say digital assets should now be part of estate planning

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INDIA MARKET | Thu, 28 May 2026, 3:04PM IST Union Minister of Commerce and Industry Shri Piyush Goyal delivered an address faculty, researchers, and students at the prestigious Munk School of Global Affairs and Public Policy, University of Toronto one of the worlds leading institutions for the study of international relations and public policy. He about Indias rapid economic progress, transformative reforms, and growing global leadership under Prime Minister Shri Narendra Modi. He highlighted the immense potential for deeper engagement among academia, industry, and policymakers to further strengthen bilateral trade, investment, and people-to-people ties between India and Canada.

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INDIA BUSINESS | Thu, 28 May 2026, 3:02PM IST Vodafone Idea has raised concerns over preferential telecom services as Airtel's priority postpaid plans using 5G slicing face scrutiny over net neutrality and equal internet access

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INDIA BUSINESS | Thu, 28 May 2026, 3:02PM IST An Akasa Air flight from Bengaluru to Bhubaneswar was diverted to Lucknow due to bad weather. The flight later landed safely at the destination. In a separate incident, an IndiGo flight from Bengaluru to Chennai was evacuated after smoke was detected. All passengers and crew were safe. An alternate aircraft was arranged.

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INDIA BUSINESS | Thu, 28 May 2026, 2:58PM IST PC Jeweller Ltd has posted a 61 per cent increase in consolidated net profit at Rs 152.89 crore for the quarter ended March 31, 2026 on higher total income. Its net profit stood at Rs 94.78 crore in the year-ago period. Total income grew to Rs 946.26 crore during January-March FY26 from Rs 700.10 crore a year ago, according to a regulatory filing on Wednesday. During 2025-26 fiscal, the net profit increased to Rs 714.46 crore from Rs 577.70 crore in the preceding year. Total income rose to Rs 3,549.58 crore from Rs 2,371.87 crore. "FY26 was an important year, as the company regained its momentum and delivered a strong performance throughout the year. This broad-based growth was driven by strong execution across the business, supported by continued consumer demand throughout the year, marking a meaningful progress in the company's ongoing turn around journey," MD Balram Garg said. He said the company would continue to strengthen and de-leverage its balance sheet and has made steady

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INDIA BUSINESS | Thu, 28 May 2026, 2:54PM IST Bharat Petroleum Corporation Limited has appointed Pushp Kumar Nayar as its new director for human resources. Nayar brings over 35 years of experience in various roles within the company. He has a strong background in retail, lubricants, and human resources. His expertise includes operational excellence and market expansion. Nayar is also involved in leveraging analytics and AI for decision-making.

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INDIA MARKET | Thu, 28 May 2026, 2:50PM IST H.G. Infra Engineering has been declared the successful bidder by REC Power Development and Consultancy (RECPDCL), a wholly owned subsidiary of REC.

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INDIA BUSINESS | Thu, 28 May 2026, 2:45PM IST Central Bank of India is well-positioned to reach the milestone of Rs 5,000 crore annual profit during the current fiscal year after clearing the deferred tax asset, according to the bank's MD and CEO, Kalyan Kumar. In the March quarter of FY26, the state-owned bank took a one-time hit of Rs 632 crore due to the recognition of deferred tax assets at a rate of 25 per cent, as against 35 per cent. "From the current year, we are migrating to the new tax regime and it will give us additional benefit of Rs 600-700 crore in our annual profit that is going to help us in bringing improvement in the bottom line," Kumar told PTI in an interview. Asked if the bank can cross the Rs 5,000 crore milestone in FY27, he said, "The bank booked a profit of Rs 4,369 crore in FY26 and Rs 5,000 crore should not be any challenge for Central Bank of India (going by the current run rate)." Stressing that customer centricity is the most important thing for any financial organisation, he said the company mus

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INDIA BUSINESS | Thu, 28 May 2026, 2:37PM IST Victims may get a solution if they promptly alert banks and cybercrime authorities

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INDIA MARKET | Thu, 28 May 2026, 2:37PM IST Re-examination is scheduled for June 21.

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GLOBAL NEWS | Thu, 28 May 2026, 2:33PM IST As predictive medicine advances, legal scholars warn that decades-old federal guidelines could set up a potential clash between your genes and your job.

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GLOBAL NEWS | Thu, 28 May 2026, 2:32PM IST Its in Valley Center, Calif., on tribal land. Customers relish every penny saved.

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GLOBAL NEWS | Thu, 28 May 2026, 2:32PM IST A woman splurged for a lie-flat seat, but it got jammed in the horizontal position for most of the 14-hour flight. How much should United compensate her?

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GLOBAL NEWS | Thu, 28 May 2026, 2:32PM IST Companies and their customers are embracing bundled streaming packages but for different reasons.

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INDIA MARKET | Thu, 28 May 2026, 2:31PM IST PG Electroplast reported 55.34% decline in consolidated net profit to Rs 64.86 crore in Q4 FY26 compared with Rs 145.23 crore posted in Q4 FY25.

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INDIA MARKET | Thu, 28 May 2026, 2:29PM IST GP Petroleums reported an 8% year-on-year profit increase in the fourth quarter, driven by improved operating margins despite a revenue decline due to volatile market conditions. For the full fiscal year 2025-26, the company saw a 5% revenue growth and a slight increase in profit, though a wage provision impacted the annual bottom line.

Continue reading at Economic Times

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INDIA MARKET | Thu, 28 May 2026, 2:28PM IST MoSPI will launch the new IIP 2022-23 series on June 1, adding rare earths, gas supply, water supply and waste management to better reflect India's changing industrial economy

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INDIA MARKET | Thu, 28 May 2026, 2:27PM IST Ace investor Vijay Kedia has urged the government to abolish long-term capital gains (LTCG) tax on listed equities, stating that long-term investors should be recognized as contributors of patient capital rather than speculators. In a post on X, he emphasized that long-term shareholders help businesses grow, generate employment, drive innovation, and support Indias economic development.

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INDIA MARKET | Thu, 28 May 2026, 2:25PM IST screengrab from neet.nta.nic.in

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INDIA MARKET | Thu, 28 May 2026, 2:23PM IST Visually and structurally, the two cars are practically identical twins.

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GLOBAL NEWS | Thu, 28 May 2026, 2:22PM IST The lawsuit, the largest ever filed by the Australian government, claims 3M hid information about the harmful effects of PFAS used at military bases.

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INDIA MARKET | Thu, 28 May 2026, 2:20PM IST Content creation two years back took 24 days but now it "only takes two hours" due to AI, Kimberly-Clark India head Deena Dayalan said at a summit in Bengaluru

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INDIA MARKET | Thu, 28 May 2026, 2:14PM IST Ashok Leyland, Insecticides (India), Hindustan Motors and Bharat Dynamics will announce Q4FY26 results on Thursday.

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INDIA BUSINESS | Thu, 28 May 2026, 2:08PM IST Rising fuel prices are significantly shifting buyer preference towards electric vehicles, with Tata Motors reporting a 2.5 times increase in EV bookings. The company is positioning the new Tiago EV as a financially sound investment, promising cost recovery within four to five years, supported by a segment-first lifetime battery warranty.

Continue reading at Economic Times

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INDIA BUSINESS | Thu, 28 May 2026, 2:07PM IST Vingroup's V-Green and ChargeZone are joining forces to build electric vehicle charging stations across India. This collaboration will support VinFast's expansion in the country. Fifteen charging stations are already operational. The companies plan to add nearly 100 more stations in the next six months.

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INDIA NEWS | Thu, 28 May 2026, 2:07PM IST New Delhi, Vietnam-based Vingroup's EV charging arm V-Green on Thursday announced it has entered into a strategic partnership with ChargeZone to jointly develop dedicated EV charging infrastructure for VinFast customers across India.The co-branded EV charging network will support VinFast's India expansion. The first 15 charging stations under this collaboration have already been commissioned and made operational.As part of the next phase of expansion, nearly 100 additional co-branded charging stations are planned for deployment over the next six months, extending the network's reach to key locations across the country.The collaboration marks VinFast's first co-branded charging partnership with a Charge Point Operator (CPO) in India, and reflects a growing deeper integration between EV manufacturers and charging infrastructure providers."The co-branded charging network is designed to address one of the most important factors influencing EV adoption today: dependable and accessible charging infrastructure beyond the point of purchase. As EV adoption accelerates in India, partnerships like these will be critical in building charging networks that are dependable, accessible and integrated into the broader mobility ecosystem," Kartikey Hariyani, Founder & CEO, ChargeZone, said.Nguyen Nam Tien, CEO, V-Green, said, "By expanding reliable charging touch-points for VinFast customers and the wider EV community, we are enabling seamless mobility, accelerating EV adoption, and building confidence in sustainable transportation across the country".

Continue reading at Economic Times

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INDIA BUSINESS | Thu, 28 May 2026, 2:07PM IST Bajaj Finserv has launched Finserv Intelligence, an AI-focused innovation platform, and plans to invest up to Rs 2,000 crore in AI-led startups over the next five years

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INDIA MARKET | Thu, 28 May 2026, 2:05PM IST Ace investor Dolly Khanna's portfolio, valued at Rs 481 crore as of May 2026, saw a 8% increase from December 2025. Five of her eight publicly held stocks gained between 4% and 26% in CY26, while three declined. The March 2026 quarter saw three new additions to her investments.

Continue reading at Economic Times

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INDIA BUSINESS | Thu, 28 May 2026, 2:05PM IST GSK's experimental hepatitis B drug, bepirovirsen, showed promising results in late-stage studies, with nearly one in five patients achieving a functional cure after six months of treatment. This offers a potential finite treatment course, a significant advancement over lifelong antiviral pills for the over 250 million people globally living with chronic hepatitis B.

Continue reading at Economic Times

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INDIA BUSINESS | Thu, 28 May 2026, 2:04PM IST Central Bank of India targets Rs 5,000 crore annual profit during this fiscal year. A new tax regime offers a significant boost. The bank plans 150 new branches and hiring 1,400 employees. Customer centricity, HR transformation, and technology are key drivers. Enhanced cybersecurity builds customer trust. These steps position the bank for a crucial role in India's economy.

Continue reading at Economic Times

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INDIA MARKET | Thu, 28 May 2026, 1:50PM IST Time Technoplast has reported 20.4% rise in consolidated net profit to Rs 131.84 crore on a 14.2% increase in revenue from operations to Rs 1,676.67 crore in Q4 FY26 over Q4 FY25.

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INDIA BUSINESS | Thu, 28 May 2026, 1:39PM IST Bookings open from 27-31 May 2026, offering up to 50% savings on domestic and international flights, along with an additional 20% discount on seat selection and pre-booked meals.

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INDIA MARKET | Thu, 28 May 2026, 1:38PM IST Virgil van Dijk will captain the Netherlands at the FIFA World Cup 2026 as the Dutch chase a first world title.

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INDIA MARKET | Thu, 28 May 2026, 1:35PM IST Delhi University

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INDIA MARKET | Thu, 28 May 2026, 1:31PM IST To implement agentic AI workflows across core enterprise functions

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INDIA MARKET | Thu, 28 May 2026, 1:31PM IST Singer India has reported 45.7% rise in consolidated net profit to Rs 5.9 crore on a 36.7% increase in revenue from operations to Rs 166.32 crore in Q4 FY26 over Q4 FY25.

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GLOBAL NEWS | Thu, 28 May 2026, 1:30PM IST Oil prices jumped after the U.S. said it shot down four Iranian attack drones, casting doubt once again on the prospects for a peace deal.

Continue reading at The New York Times

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INDIA NEWS | Thu, 28 May 2026, 1:29PM IST Mumbai: Even as Indias labour code reforms will significantly simplify compliance and improve ease of doing business over the long term, the transition could create near-term complexity for companies, experts have pointed out.Organisations with multi-state operations could face complications in navigating overlapping regimes, as central rules are now being notified even while most state-level rules are still evolving. This could create a patchwork regulatory environment, forcing companies to continue with older state compliance in some cases while simultaneously preparing for the new central rules.Also read: Employees terminated for business reasons are entitled to compensation and re-skilling funds under New Labour CodeThe transition to the new Labour Codes is encouraging organisations to fundamentally modernise their compensation and compliance frameworks, with wage restructuring emerging as one of the most significant focus areas. While the exercise is operationally intensive, companies increasingly see it as an opportunity to create more transparent, compliant, and sustainable salary structures, said Lokesh Gulati, Partner, PwC India.Over the long term, industry expects the reforms to create more consistent wage structures, stronger social security coverage, improved compliance governance, and a more streamlined employment ecosystem overall, added Gulati.Only a few states, including Gujarat, Bihar and Arunachal Pradesh, have fully notified their rules so far, while most others remain in progress. Until these are in place, companies are expected to operate in a hybrid model, which could increase administrative complexity in the interim and require parallel compliance systems.Compliance alignment is emerging as the immediate pressure point. Companies across sectors such as banking, telecom, aviation, and insurance are likely to see faster adoption of central rules, while others may need to recalibrate in response to evolving state-level notifications and their applicability.At the same time, the underlying reform thrust is clearly towards simplification. The consolidation of multiple laws into four codes is expected to reduce compliance burden over time, with a sharp reduction in the number of returns, registers and licences required. Legacy structures involving over 30 returns and several dozen registers are being replaced with a limited set of consolidated filings and records.Also read: Labour reforms: Govt fully operationalises four new codes by publishing rulesDigitisation is expected to be a key structural shift. The move towards technology-driven inspections and a facilitator-led regulatory approach could reduce discretion and improve transparency. Systems such as centralised portals and digital inspection frameworks are intended to replace traditional inspection regimes, altering how companies engage with regulators.Changes in wage structures could also require adjustments. While overall wage costs may not increase uniformly, social security contributions could rise due to revised wage definitions. This could lead companies to revisit salary structures, reclassify allowances and reassess provisioning, particularly in sectors with large and diverse workforces.A major driver of restructuring is the revised definition of wages, which brings greater uniformity in how statutory benefits such as provident fund, gratuity, bonus, and overtime are calculated. Traditionally, many organisations - particularly in white-collar sectors - followed compensation models in which a large portion of pay was structured as allowances and variable components to optimise statutory outflows. Under the new framework, companies are reassessing these structures to ensure that the basic wage component remains compliant with prescribed thresholds, said Gulati of PwC India.Contract labour remains another area where companies could see tighter expectations. Greater accountability has been placed on principal employers, including responsibility for contractors' compliance failures, structured grievance redressal timelines, and clearer wage progression norms. These changes could require more oversight and tighter operational controls.Industry feedback suggests that many organisations are not far from the revised wage thresholds in terms of basic pay structures. However, the effort lies in the reclassification of pay elements, alignment of HR policies and consistency across workforce categories, including contract and gig workers.Worker-centric measures are also being strengthened. The introduction of a national floor wage, formal grievance mechanisms and broader social security constructs could improve labour protection and standardisation across states. At the same time, this could require companies to recalibrate cost structures and compliance processes.Several critical elements of the framework remain work in progress. Clarity on social security schemes, implementation contours for gig and platform workers, and timelines for full state adoption are still awaited. These gaps could prolong uncertainty in the near term.For India Inc, the labour code rollout signals a significant reset of the compliance landscape. While the reforms could deliver long-term efficiency and transparency benefits, the transition phase could demand careful execution, system upgrades and sustained regulatory alignment.

Continue reading at Economic Times

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INDIA MARKET | Thu, 28 May 2026, 1:29PM IST Vi's post comes days after Airtel announced its "Priority Postpaid" service, which uses advanced 5G network slicing technology to offer better speed and stable connectivity even during high traffic for its subscribed customers.

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GLOBAL NEWS | Thu, 28 May 2026, 1:28PM IST Oil prices jumped after the U.S. said it shot down four Iranian attack drones, casting doubt once again on the prospects for a peace deal.

Continue reading at The New York Times

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